UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2013

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File number: 000-51634

SUPERFUND GREEN, L.P.

(Exact name of registrant as specified in charter)

Delaware	98-0375395
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
Superfund Office Building P.O. Box 1479 Grand Anse St. George’s, Grenada West Indies	Not applicable
(Address of principal executive offices)	(Zip Code)

(473) 439-2418

(Registrant’s telephone number, including area code)

Not applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	¨	Accelerated Filer	¨
Non-Accelerated Filer	¨  (Do not check if a smaller reporting company)	Smaller Reporting Company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The following unaudited financial statements of Superfund Green, L.P., Superfund Green, L.P. Series A and Superfund Green, L.P. Series B are included in Item 1:

	Page
Unaudited Financial Statements: Superfund Green, L.P.
Statements of Assets and Liabilities as of September 30, 2013 and December 31, 2012		3
Condensed Schedule of Investments as of September 30, 2013		4
Condensed Schedule of Investments as of December 31, 2012		5
Statements of Operations for the Three and Nine Months Ended September 30, 2013 and September 30, 2012		6
Statements of Changes in Net Assets for the Three and Nine Months Ended September  30, 2013 and September 30, 2012		7
Statements of Cash Flows for the Nine Months Ended September 30, 2013 and September 30, 2012		8
Unaudited Financial Statements: Superfund Green, L.P. – Series A
Statements of Assets and Liabilities as of September 30, 2013 and December 31, 2012		9
Condensed Schedule of Investments as of September 30, 2013		10
Condensed Schedule of Investments as of December 31, 2012		11
Statements of Operations for the Three and Nine Months Ended September 30, 2013 and September 30, 2012		12
Statements of Changes in Net Assets for the Three and Nine Months Ended September  30, 2013 and September 30, 2012		13
Statements of Cash Flows for the Nine Months Ended September 30, 2013 and September 30, 2012		14
Unaudited Financial Statements: Superfund Green, L.P. – Series B
Statements of Assets and Liabilities as of September 30, 2013 and December 31, 2012		15
Condensed Schedule of Investments as of September 30, 2013		16
Condensed Schedule of Investments as of December 31, 2012		17
Statements of Operations for the Three and Nine Months Ended September 30, 2013 and September 30, 2012		18
Statements of Changes in Net Assets for the Three and Nine Months Ended September  30, 2013 and September 30, 2012		19
Statements of Cash Flows for the Nine Months Ended September 30, 2013 and September 30, 2012		20
Notes to Unaudited Financial Statements as of and for the Three and Nine Months ended September  30, 2013		21-42

2

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES

as of September 30, 2013 and December 31, 2012

	September 30, 2013		December 31, 2012
ASSETS
Due from brokers	$	11,942,245	$	16,139,431
Due from affiliate		—		187
Unrealized appreciation on open forward contracts		57		299,598
Futures contracts purchased		509,116		906,553
Futures contracts sold		275,736		314,602
Cash		17,896,385		18,965,187
Total assets		30,623,539		36,625,558
LIABILITIES
Unrealized depreciation on open forward contracts		38		176,689
Futures contracts purchased		831,866		—
Futures contracts sold		195,739		—
Subscription received in advance		35,000		—
Redemptions payable		720,874		1,908,427
Management fees payable		45,690		56,206
Fees payable		51,413		69,938
Total liabilities		1,880,620		2,211,260
NET ASSETS	$	28,742,919	$	34,414,298

See accompanying notes to unaudited financial statements.

3

SUPERFUND GREEN, L.P.

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of September 30, 2013

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		0.0	*%	$	57
Total unrealized appreciation on forward contracts		0.0	*		57
Unrealized depreciation on forward contracts
Currency		(0.0	)*		(38	)
Total unrealized depreciation on forward contracts		(0.0	)*		(38	)
Total forward contracts, at fair value		0.0	*%	$	19
Futures contracts purchased
Currency		0.6	%	$	156,715
Energy		(0.7	)		(198,050	)
Financial		0.6			183,041
Food & Fiber		0.0	*		11,106
Indices		(1.3	)		(386,815	)
Livestock		(0.0	)*		(13,020	)
Metals		(0.3	)		(75,727	)
Total futures contracts purchased		(1.1	)		(322,750	)
Futures contracts sold
Currency		(0.0	)*		(13,093	)
Energy		0.3			99,666
Financial		(0.1	)		(32,726	)
Food & Fiber		0.4			104,387
Livestock		(0.2	)		(44,715	)
Metals		(0.1	)		(33,522	)
Total futures contracts sold		0.3			79,997
Total futures contracts, at fair value		(0.8	)%	$	(242,753	)
Futures and forward contracts by country composition
Australia		(0.1	)%	$	(28,128	)
Canada		0.0	*		10,662
European Monetary Union		(0.1	)		(16,435	)
Great Britain		(0.0	)*		(10,667	)
Japan		(0.2	)		(56,751	)
United States		(0.3	)		(78,594	)
Other		(0.2	)		(62,821	)
Total futures and forward contracts by country composition		(0.9	)%	$	(242,734	)

* Due to rounding

See accompanying notes to unaudited financial statements.

4

SUPERFUND GREEN, L.P.

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2012

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		0.9	%	$	299,598
Total unrealized appreciation on forward contracts		0.9			299,598
Unrealized depreciation on forward contracts
Currency		(0.5	)		(176,689	)
Total unrealized depreciation on forward contracts		(0.5	)		(176,689	)
Total forward contracts, at fair value		0.4	%	$	122,909
Futures contracts purchased
Currency		(0.0	)*%	$	(4,412	)
Energy		0.5			180,049
Financial		0.7			247,051
Food & Fiber		0.0	*		1,240
Indices		1.0			337,382
Metals		0.4			145,243
Total futures contracts purchased		2.6			906,553
Futures contracts sold
Currency		0.9			300,345
Energy		0.8			269,707
Financial		(0.0	)*		(11,031	)
Food & Fiber		0.5			195,332
Indices		(0.0	)*		(1,007	)
Metals		(1.3	)		(438,744	)
Total futures contracts sold		0.9			314,602
Total futures contracts, at fair value		3.5	%	$	1,221,155
Futures and forward contracts by country composition
Australia		0.1	%	$	37,749
Canada		0.1			21,946
European Monetary Union		(0.1	)		(38,141	)
Great Britain		(0.1	)		(33,717	)
Japan		1.1			367,412
United States		2.1			733,901
Other		0.7			254,914
Total futures and forward contracts by country composition		3.9	%	$	1,344,064

* Due to rounding

See accompanying notes to unaudited financial statements.

5

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF OPERATIONS

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Investment income
Interest income	$	669		$	3,991		$	2,492		$	9,785
Other income		1			4			6			1,870
Total investment income		670			3,995			2,498			11,655
Expenses
Selling commission		311,161			489,442			1,023,135			1,653,000
Brokerage commissions		133,370			329,630			537,319			1,024,612
Management fee		143,912			226,367			473,202			764,513
Ongoing offering expenses		77,790			122,360			255,785			413,249
Operating expenses		11,668			18,354			38,369			61,988
Gain on MF Global		—			—			—			(8,417	)
Other		3,389			6,056			15,476			16,584
Total expenses		681,290			1,192,209			2,343,286			3,925,529
Net investment loss	$	(680,620	)	$	(1,188,214	)	$	(2,340,788	)	$	(3,913,874	)
Realized and unrealized gain (loss) on investments
Net realized gain (loss) on futures and forward contracts	$	(350,857	)	$	237,278		$	5,864,091		$	1,922,875
Net change in unrealized appreciation (depreciation) on futures and forward contracts	$	(903,997	)	$	(1,335,397	)	$	(1,586,798	)	$	(2,467,731	)
Net gain (loss) on investments	$	(1,254,854	)	$	(1,098,119	)	$	4,277,293		$	(544,856	)
Net increase (decrease) in net assets from operations	$	(1,935,474	)	$	(2,286,333	)	$	1,936,505		$	(4,458,730	)

See accompanying notes to unaudited financial statements.

6

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS

	Nine Months Ended September 30,
	2013			2012
Decrease in net assets from operations
Net investment loss	$	(2,340,788	)	$	(3,913,874	)
Net realized gain on futures and forward contracts		5,864,091			1,922,875
Net change in unrealized depreciation on futures and forward contracts		(1,586,798	)		(2,467,731	)
Net decrease in net assets from operations		1,936,505			(4,458,730	)
Capital share transactions
Issuance of Units		1,008,292			1,268,273
Redemption of Units		(8,616,176	)		(16,726,091	)
Net decrease in net assets from capital share transactions		(7,607,379	)		(15,457,818	)
Net decrease in net assets		(5,671,379	)		(19,916,548	)
Net assets, beginning of period		34,414,298			63,429,698
Net assets, end of period	$	28,742,919		$	43,513,150

See accompanying notes to unaudited financial statements.

7

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF CASH FLOWS

	Nine Months Ended September 30,
	2013			2012
Cash flows from operating activities
Net increase (decrease) in net assets from operations	$	1,936,505		$	(4,458,730	)
Adjustment to reconcile net increase (decrease) in net assets from operations to net cash provided by operating activities:
Changes in operating assets and liabilities:
Purchases of U.S. government securities		—			(19,446,037	)
Sales and maturities of U.S. government securities		—			37,100,000
Amortization of discounts and premiums		—			(3,963	)
Increase in due from brokers		4,197,186			19,052,807
Due from affiliate		187			—
Decrease in unrealized appreciation on open forward contracts		299,541			172,349
Increase in futures contracts purchased		1,229,303			246,069
Decrease in unrealized depreciation on open forward contracts		(176,651	)		(68,279	)
Increase in futures contracts sold		234,605			2,117,592
Decrease in management fees payable		(10,516	)		(143,975	)
Decrease in fees payable		(18,525	)		(317,337	)
Net cash provided by operating activities		7,691,635			34,250,496
Cash flows from financing activities
Subscriptions, net of change in advanced subscriptions		1,043,292			1,113,573
Redemptions, net of change in redemptions payable		(9,803,729	)		(17,566,276	)
Net cash used in financing activities		(8,760,437	)		(16,452,703	)
Net increase (decrease) in cash		(1,068,802	)		17,797,793
Cash, beginning of period		18,965,187			989,356
Cash, end of period	$	17,896,385		$	18,787,149

See accompanying notes to unaudited financial statements.

8

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES

as of September 30, 2013 and December 31, 2012

	September 30, 2013		December 31, 2012
ASSETS
Due from brokers	$	4,556,708	$	7,148,002
Due from affiliate		—		187
Unrealized appreciation on open forward contracts		21		89,246
Futures contracts purchased		179,546		309,618
Futures contracts sold		93,306		123,836
Cash		9,475,396		10,113,907
Total assets		14,304,977		17,784,796
LIABILITIES
Unrealized depreciation on open forward contracts		9		62,254
Futures contracts purchased		283,285		—
Futures contracts sold		72,894		—
Subscription received in advance		35,000		—
Redemptions payable		182,286		1,102,466
Management fees payable		21,502		27,320
Fees payable		26,341		35,420
Total liabilities		621,317		1,227,460
NET ASSETS	$	13,683,660	$	16,557,336
Number of Units		11,758.133		14,646.201
Net Asset Value per Unit	$	1,163.76	$	1,130.49

See accompanying notes to unaudited financial statements.

9

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of September 30, 2013

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		0.0	*%	$	21
Total unrealized appreciation on forward contracts		0.0	*		21
Unrealized depreciation on forward contracts
Currency		0.0	*		(9	)
Total unrealized depreciation on forward contracts		0.0	*		(9	)
Total forward contracts, at fair value		0.0	*%	$	12
Futures contracts purchased
Currency		0.4	%	$	51,709
Energy		(0.5	)		(68,027	)
Financial		0.5			69,814
Food & Fiber		0.0	*		4,575
Indices		(1.0	)		(131,354	)
Livestock		0.0	*		(4,490	)
Metals		(0.2	)		(25,966	)
Total futures contracts purchased		(0.8	)		(103,739	)
Futures contracts sold
Currency		0.0	*%		1,545
Energy		0.2			25,057
Financial		(0.1	)		(12,027	)
Food & Fiber		0.3			40,579
Livestock		0.0	*		(1,220	)
Metals		(0.2	)		(33,522	)
Total futures contracts sold		0.2			20,412
Total futures contracts, at fair value		(0.6	)%	$	(83,327	)
Futures and forward contracts by country composition
Australia		(0.1	)%	$	(8,538	)
Canada		0.0	*		4,373
European Monetary Union		0.0	*		(5,492	)
Great Britain		0.0	*		544
Japan		(0.1	)		(19,787	)
United States		(0.3	)		(34,998	)
Other		(0.1	)		(19,417	)
Total futures and forward contracts by country composition		(0.6	)%	$	(83,315	)

* Due to rounding

See accompanying notes to unaudited financial statements.

10

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2012

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		0.5	%	$	89,246
Total unrealized appreciation on forward contracts		0.5			89,246
Unrealized depreciation on forward contracts
Currency		(0.4	)		(62,254	)
Total unrealized depreciation on forward contracts		(0.4	)		(62,254	)
Total forward contracts, at fair value		0.1	%	$	26,992
Futures contracts purchased
Currency		(0.0	)*%	$	(2,921	)
Energy		0.4			59,291
Financial		0.6			98,490
Food & Fiber		0.0	*		915
Indices		0.6			106,397
Metals		0.3			47,446
Total futures contracts purchased		1.9			309,618
Futures contracts sold
Currency		0.7			110,509
Energy		0.7			112,267
Financial		(0.0	)*		(4,137	)
Food & Fiber		0.4			70,100
Indices		(0.0	)*		(428	)
Metals		(1.0	)		(164,475	)
Total futures contracts sold		0.8			123,836
Total futures contracts, at fair value		2.7	%	$	433,454
Futures and forward contracts by country composition
Australia		0.1	%	$	15,450
Canada		0.1			9,979
European Monetary Union		(0.1	)		(15,950	)
Great Britain		(0.1	)		(13,748	)
Japan		0.7			114,403
United States		1.5			247,595
Other		0.6			102,717
Total futures and forward contracts by country composition		2.8	%	$	460,446

* Due to rounding

See accompanying notes to unaudited financial statements.

11

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED STATEMENTS OF OPERATIONS

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Investment income
Interest income	$	259		$	2,036		$	1,013		$	4,984
Other income		—			1			2			673
Total investment income		259			2,037			1,015			5,657
Expenses
Selling commission		146,996			234,309			483,336			799,082
Brokerage commissions		48,968			125,292			201,711			403,339
Management fee		67,985			108,368			223,543			369,575
Ongoing offering expenses		36,749			58,577			120,835			199,770
Operating expenses		5,512			8,787			18,126			29,966
Gain on MF Global		—			—			—			(41,517	)
Other		1,428			3,398			6,052			9,046
Total expenses		307,638			538,731			1,053,603			1,769,261
Net investment loss	$	(307,379	)	$	(536,694	)	$	(1,052,588	)	$	(1,763,604	)
Realized and unrealized gain (loss) on investments
Net realized gain (loss) on futures and forward contracts	$	(201,750	)	$	227,128		$	2,234,555		$	888,163
Net change in unrealized appreciation (depreciation) on futures and forward contracts		(378,167	)		(516,977	)		(543,761	)		(888,024	)
Net gain (loss) on investments	$	(579,917	)	$	(289,849	)	$	1,690,794		$	139
Net increase (decrease) in net assets from operations	$	(887,296	)	$	(826,543	)	$	638,206		$	(1,763,465	)
Net increase (decrease) in net assets from operations per Unit (based upon weighted average number of units outstanding during period)*	$	(73.58	)	$	(44.53	)	$	49.50		$	(85.65	)
Net increase (decrease) in net assets from operations per Unit (based upon change in net asset value per unit during period)*	$	(73.32	)	$	(50.81	)	$	33.27		$	(93.67	)

* Weighted average number of Units outstanding for Series A for the Three Months Ended September 30, 2013 and September 30, 2012: 12,059.55 and 18,716.65, respectively; and for the Nine Months Ended September 30, 2013 and September 30, 2012: 12,894.19 and 20,898.14, respectively.

See accompanying notes to unaudited financial statements.

12

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS

	Nine Months Ended September 30,
	2013			2012
Decrease in net assets from operations
Net investment loss	$	(1,052,588	)	$	(1,763,604	)
Net realized gain on futures and forward contracts		2,234,555			888,163
Net change in unrealized depreciation on futures and forward contracts		(543,761	)		(888,024	)
Net increase (decrease) in net assets from operations		638,206			(1,763,465	)
Capital share transactions
Issuance of Units		380,482			695,444
Redemption of Units		(3,892,364	)		(9,148,049	)
Net decrease in net assets from capital share transactions		(3,511,882	)		(8,452,605	)
Net decrease in net assets		(2,873,676	)		(10,216,070	)
Net assets, beginning of period		16,557,336			30,877,886
Net assets, end of period	$	13,683,660		$	20,661,816
Units, beginning of period		14,646.201			23,634.331
Issuance of Units		312.611			547.919
Redemption of Units		(3,200.679	)		(7,145.957	)
Units, end of period		11,758.133			17,036.293

See accompanying notes to unaudited financial statements.

13

SUPERFUND GREEN, L.P. – SERIES A

UNAUDITED STATEMENTS OF CASH FLOWS

	Nine Months Ended September 30,
	2013			2012
Cash flows from operating activities
Net increase (decrease) in net assets from operations	$	638,206		$	(1,763,465	)
Adjustment to reconcile net increase (decrease) in net assets from operations to net cash provided by operating activities:
Changes in operating assets and liabilities:
Purchases of U.S. government securities		—			(9,048,159	)
Sales and maturities of U.S. government securities		—			17,350,000
Amortization of discounts and premiums		—			(1,841	)
Increase in due from brokers		2,591,294			11,136,449
Increase in due from affiliate		187			—
Increase in unrealized appreciation on open forward contracts		89,225			54,740
Increase in futures contracts purchased		413,357			58,171
Decrease in unrealized depreciation on open forward contracts		(62,245	)		(30,913	)
Increase in futures contracts sold		103,424			806,026
Decrease in management fees payable		(5,818	)		(68,578	)
Decrease in fees payable		(9,079	)		(148,818	)
Net cash provided by operating activities		3,758,551			18,343,612
Cash flows from financing activities
Subscriptions, net of change in advanced subscriptions		415,482			631,444
Redemptions, net of change in redemptions payable		(4,812,544	)		(9,269,897	)
Net cash used in financing activities		(4,397,062	)		(8,638,453	)
Net increase (decrease) in cash		(638,511	)		9,705,159
Cash, beginning of period		10,113,907			333,206
Cash, end of period	$	9,475,396		$	10,038,365

See accompanying notes to unaudited financial statements.

14

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED STATEMENTS OF ASSETS AND LIABILITIES

as of September 30, 2013 and December 31, 2012

	September 30, 2013		December 31, 2012
ASSETS
Due from brokers	$	7,385,537	$	8,991,429
Unrealized appreciation on open forward contracts		36		210,352
Futures contracts purchased		329,570		596,935
Futures contracts sold		182,430		190,766
Cash		8,420,989		8,851,280
Total assets		16,318,562		18,840,762
LIABILITIES
Unrealized depreciation on open forward contracts		29		114,435
Futures contracts purchased		548,581		—
Futures contracts sold		122,845		—
Redemptions payable		538,588		805,961
Management fees payable		24,188		28,886
Fees payable		25,072		34,518
Total liabilities		1,259,303		983,800
NET ASSETS	$	$15,059,259	$	17,856,962
Number of Units		12,474.990		15,682.537
Net Asset Value per Unit	$	$1,207.16	$	1,138.65

See accompanying notes to unaudited financial statements.

15

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of September 30, 2013

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		0.0	*%	$	36
Total unrealized appreciation on forward contracts		0.0	*		36
Unrealized depreciation on forward contracts
Currency		0.0	*		(29	)
Total unrealized depreciation on forward contracts		0.0	*		(29	)
Total forward contracts, at fair value		0.0	*%	$	7
Futures contracts purchased
Currency		0.7	%	$	105,006
Energy		(0.9	)		(130,023	)
Financial		0.8			113,227
Food & Fiber		0.0	*		6,531
Indices		(1.7	)		(255,461	)
Livestock		(0.1	)		(8,530	)
Metals		(0.3	)		(49,761	)
Total futures contracts purchased		(1.5	)		(219,011	)
Futures contracts sold
Currency		(0.1	)		(14,638	)
Energy		0.5			74,609
Financial		(0.1	)		(20,699	)
Food & Fiber		0.4			63,808
Metals		(0.3	)		(43,495	)
Total futures contracts sold		0.4			59,585
Total futures contracts, at fair value		(1.1	)%	$	(159,426	)
Futures and forward contracts by country composition
Australia		(0.1	)%	$	(19,590	)
Canada		0.0	*		6,289
European Monetary Union		(0.1	)		(10,943	)
Great Britain		(0.1	)		(11,211	)
Japan		(0.2	)		(36,964	)
United States		(0.3	)		(43,596	)
Other		(0.3	)		(43,404	)
Total futures and forward contracts by country composition		(1.1	)%	$	(159,419	)

* Due to rounding

See accompanying notes to unaudited financial statements.

16

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2012

	Percentage of Net Assets			Fair Value
Forward contracts, at fair value
Unrealized appreciation on forward contracts
Currency		1.2	%	$	210,352
Total unrealized appreciation on forward contracts		1.2			210,352
Unrealized depreciation on forward contracts
Currency		(0.6	)		(114,435	)
Total unrealized depreciation on forward contracts		(0.6	)		(114,435	)
Total forward contracts, at fair value		0.6	%	$	95,917
Futures contracts purchased
Currency		(0.0	)*%	$	(1,491	)
Energy		0.7			120,758
Financial		0.8			148,561
Food & Fiber		0.0	*		325
Indices		1.3			230,985
Metals		0.5			97,797
Total futures contracts purchased		3.3			596,935
Futures contracts sold
Currency		1.1			189,836
Energy		0.8			157,440
Financial		(0.0	)*		(6,894	)
Food & Fiber		0.7			125,232
Indices		(0.0	)*		(579	)
Metals		(1.5	)		(274,269	)
Total futures contracts sold		1.1			190,766
Total futures contracts, at fair value		4.4	%	$	787,701
Futures and forward contracts by country composition
Australia		0.1	%	$	22,299
Canada		0.1			11,967
European Monetary Union		(0.1	)		(22,191	)
Great Britain		(0.1	)		(19,969	)
Japan		1.4			253,009
United States		2.7			486,306
Other		0.9			152,197
Total futures and forward contracts by country composition		5.0	%	$	883,618

* Due to rounding

See accompanying notes to unaudited financial statements.

17

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED STATEMENTS OF OPERATIONS

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Investment income
Interest income	$	410		$	1,955		$	1,479		$	4,801
Other income		1			3			4			1,197
Total investment income		411			1,958			1,483			5,998
Expenses
Selling commission		164,165			255,133			539,799			853,918
Brokerage commissions		84,402			204,338			335,608			621,273
Management fee		75,927			117,999			249,659			394,938
Ongoing offering expenses		41,041			63,783			134,950			213,479
Operating expenses		6,156			9,567			20,243			32,022
Loss on MF Global		—			—			—			33,100
Other		1,961			2,658			9,424			7,538
Total expenses		373,652			653,478			1,289,683			2,156,268
Net investment loss	$	(373,241	)	$	(651,520	)	$	(1,288,200	)	$	(2,150,270	)
Realized and unrealized gain (loss) on investments
Net realized gain (loss) on futures and forward contracts	$	(149,107	)	$	10,150		$	3,629,536		$	1,034,712
Net change in unrealized depreciation on futures and forward contracts		(525,830	)		(818,420	)		(1,043,037	)		(1,579,707	)
Net gain (loss) on investments	$	(674,937	)	$	(808,270	)	$	2,586,499		$	(544,995	)
Net increase (decrease) in net assets from operations	$	(1,048,178	)	$	(1,459,790	)	$	1,298,299		$	(2,695,265	)
Net increase (decrease) in net assets from operations per Unit (based upon weighted average number of units outstanding during period)*	$	(81.05	)	$	(76.09	)	$	94.86		$	(130.46	)
Net increase (decrease) in net assets from operations per Unit (based upon change in net asset value per unit during period)*	$	(80.80	)	$	(79.23	)	$	68.51		$	(136.02	)

* Weighted average number of Units outstanding for Series B for the Three Months Ended September 30, 2013 and September 30, 2012: 12,933.28 and 19,111.90, respectively; and for the Nine Months Ended September 30, 2013 and September 30, 2012: 13,687.18 and 20,938.59, respectively.

See accompanying notes to unaudited financial statements.

18

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS

	Nine Months Ended September 30,
	2013			2012
Decrease in net assets from operations
Net investment loss	$	(1,288,200	)	$	(2,150,270	)
Net realized gain on futures and forward contracts		3,629,536			1,034,712
Net change in unrealized depreciation on futures and forward contracts		(1,043,037	)		(1,579,707	)
Net decrease in net assets from operations		1,298,299			(2,695,265	)
Capital share transactions
Issuance of Units		627,810			572,829
Redemption of Units		(4,723,812	)		(7,578,042	)
Net decrease in net assets from capital share transactions		(4,096,002	)		(7,005,213	)
Net decrease in net assets		(2,797,703	)		(9,700,478	)
Net assets, beginning of period		17,856,962			32,551,812
Net assets, end of period	$	15,059,259		$	22,851,334
Units, beginning of period		15,682.537			23,394.345
Issuance of Units		471.535			417.205
Redemption of Units		(3,679.082	)		(5,609.419	)
Units, end of period		12,474.990			18,202.131

See accompanying notes to unaudited financial statements.

19

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED STATEMENTS OF CASH FLOWS

	Nine Months Ended September 30,
	2013			2012
Cash flows from operating activities
Net increase (decrease )in net assets from operations	$	1,298,299		$	(2,695,265	)
Adjustment to reconcile net increase (decrease) in net assets from operations to net cash provided by operating activities:
Changes in operating assets and liabilities:
Purchases of U.S. government securities		—			(10,397,878	)
Sales and maturities of U.S. government securities		—			19,750,000
Amortization of discounts and premiums		—			(2,122	)
Increase in due from brokers		1,605,892			7,916,358
Increase in unrealized appreciation on open forward contracts		210,316			117,609
Increase in futures contracts purchased		815,946			187,898
Decrease in unrealized depreciation on open forward contracts		(114,406	)		(37,366	)
Increase in futures contracts sold		131,181			1,311,566
Decrease in management fees payable		(4,698	)		(75,397	)
Decrease in fees payable		(9,446	)		(168,519	)
Net cash provided by operating activities		3,933,084			15,906,884
Cash flows from financing activities
Subscriptions, net of change in advanced subscriptions		627,810			482,129
Redemptions, net of change in redemptions payable		(4,991,185	)		(8,296,379	)
Net cash used in financing activities		(4,363,375	)		(7,814,250	)
Net increase (decrease) in cash		(430,291	)		8,092,634
Cash, beginning of period		8,851,280			656,150
Cash, end of period	$	8,420,989		$	8,748,784

See accompanying notes to unaudited financial statements.

20

SUPERFUND GREEN, L.P., SUPERFUND GREEN, L.P. – SERIES A and SUPERFUND GREEN, L.P. – SERIES B

NOTES TO UNAUDITED FINANCIAL STATEMENTS

September 30, 2013

1. Nature of operations

Organization and Business

Superfund Green, L.P. (the “Fund”), a Delaware limited partnership, commenced operations on November 5, 2002. The Fund was organized to trade speculatively in the United States (“U.S.”) and international commodity futures and forward markets using a fully-automated computerized trading system. The Fund has issued two classes of units (“Units”), Series A and Series B (each, a “Series”). The two Series are traded and managed the same way except for the degree of leverage.

The terms of Series A and Series B each shall continue until December 31, 2050, unless the applicable Series is terminated earlier by the Fund’s general partner, Superfund Capital Management, Inc. (“Superfund Capital Management”) or by operation of law or a decline in the aggregate net assets of such Series to less than $500,000.

2. Basis of presentation and significant accounting policies

Basis of Presentation

The unaudited financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the U.S. (“U.S. GAAP”) with respect to the Form 10-Q and reflect all adjustments which in the opinion of management are normal and recurring, and which are necessary for a fair statement of the results of interim periods presented. It is suggested that these financial statements be read in conjunction with the financial statements and the related notes included in the Fund’s Annual Report on Form 10-K for the year ended December 31, 2012.

Valuation of Investments in Futures Contracts, Forward Contracts, and U.S. Treasury Bills

All commodity interests (including derivative financial instruments and derivative commodity instruments) are used for trading purposes. The commodity interests are recorded on a trade date basis and open contracts are recorded in the statements of assets and liabilities at fair value on the last business day of the period, which represents market value for those commodity interests for which market quotes are readily available.

Exchange-traded futures contracts are valued at settlement prices published by the recognized exchange. Any spot and forward foreign currency contracts held by the Fund will be valued at published settlement prices or at dealers’ quotes. The Fund uses the amortized cost method for valuing U.S. Treasury Bills due to the short-term nature of such instruments; accordingly, the cost of securities plus accreted discount, or minus amortized premium approximates fair value (See Section 3 – Fair Value Measurements).

Translation of Foreign Currency

Assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the period-end exchange rates. Purchases and sales of investments and income and expenses that are denominated in foreign currencies are translated into U.S. dollar amounts on the transaction date. Adjustments arising from foreign currency transactions are reflected in the Statements of Operations.

The Fund does not isolate that portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations from changes in market prices of investments held. Such fluctuations are included in net realized and unrealized gain (loss) on investments in the statements of operations.

21

Investment Transactions, Investment Income and Expenses

Investment transactions are accounted for on a trade-date basis. Interest income and expenses are recognized on the accrual basis. The Fund uses the amortized cost method for valuing U.S. Treasury Bills. Operating expenses of the Fund are allocated to each Series in proportion to the net asset value of the Series at the beginning of each month. Expenses directly attributable to a particular Series are charged directly to that Series.

Gains or losses are realized when contracts are liquidated. Unrealized gains and losses on open contracts (the difference between contract trade price and market price) are reported in the Statements of Operations as a net gain or loss, as there exists a right of offset of unrealized gains or losses in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 210-20, Offsetting – Balance Sheet.

Set forth herein are instruments and transactions eligible for offset in the Statements of Assets and Liabilities and which are subject to derivative clearing agreements with the Fund’s futures commission merchants. Each futures commission merchant nets margin held on behalf of each Series of the Fund or payment obligations of the futures commission merchant to each Series against any payment obligations of that Series to the futures commission merchant. Each Series is required to deposit margin at each futures commission merchant to meet the original and maintenance requirements established by that futures commission merchant, and/or the exchange or clearinghouse associated with the exchange on which the instrument is traded. The derivative clearing agreements give each futures commission merchant a security interest in this margin to secure any liabilities owed to the futures commission merchant arising from a default by the Series. As of September 30, 2013, the Fund had on deposit $6,418,285 at ADM Investor Services, Inc., $3,531,430 at Barclays Capital Inc. and $1,991,839 at Citigroup Global Markets Inc. As of September 30, 2013, Series A had on deposit $2,270,907 at ADM Investor Services, Inc., $1,571,612 at Barclays Capital Inc. and $713,843 at Citigroup Global Markets Inc. As of September 30, 2013, Series B had on deposit $4,147,378 at ADM Investor Services, Inc., $1,959,818 at Barclays Capital Inc. and $1,277,996 at Citigroup Global Markets Inc.

Income Taxes

The Fund does not record a provision for U.S. income taxes because the partners report their share of the Fund’s income or loss on their returns. The financial statements reflect the Fund’s transactions without adjustment, if any, required for income tax purposes.

Superfund Capital Management has evaluated the application of ASC Topic 740, Income Taxes (“ASC 740”), to the Fund, to determine whether or not there are uncertain tax positions that require financial statement recognition. Based on this evaluation, Superfund Capital Management has determined no reserves for uncertain tax positions are required to be recorded as a result of the application of ASC 740. Superfund Capital Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. As a result, no income tax liability or expense has been recorded in the accompanying financial statements. The Fund files federal and various state tax returns. The 2010 through 2012 tax years generally remain subject to examination by the U.S. federal and most state tax authorities.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires Superfund Capital Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Recently Issued Accounting Pronouncements

ASU 2011-11

In December 2011, FASB issued ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). ASU 2011-11 requires disclosures to make financial statements that are prepared under U.S. GAAP more comparable to those prepared under International Financial Reporting Standards (“IFRS”). The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of assets and liabilities as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, ASU 2011-11 requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements.

22

In January 2013, the FASB issued guidance to clarify the scope of disclosures about offsetting assets and liabilities. The amendments clarify that the scope of guidance issued in December 2011 to enhance disclosures around financial instrument and derivative instruments that are either (a) offset, or (b) subject to a master netting agreement or similar agreement, irrespective of whether they are offset, applies to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. The amendments are effective for interim and annual periods beginning on or after January 1, 2013. Adoption did not have a material impact on the Funds’ financial statements.

ASU 2011-04

In May 2011, FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. ASU 2011-04 includes common requirements for measurement of and disclosure about fair value between U.S. GAAP and IFRS. ASU 2011-04 will require reporting entities to disclose the following information for fair value measurements categorized within Level 3 of the fair value hierarchy: quantitative information about the unobservable inputs used in the fair value measurement, the valuation processes used by the reporting entity and a narrative description of the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs. In addition, ASU 2011-04 will require reporting entities to make disclosures about amounts and reasons for all transfers in and out of Level 1 and Level 2 fair value measurements. The new and revised disclosures are effective for interim and annual reporting periods beginning after December 15, 2011. The Fund adopted ASU 2011-04 as of January 1, 2012. The adoption of the provisions of ASU 2011-04 has not had a material impact on the Fund’s financial statement disclosures.

3. Fair Value Measurements

The Fund follows ASC 820, Fair Value Measurements and Disclosures, which establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below:

Level 1:	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2:	Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly;
Level 3:	Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining fair value, the Fund separates its financial instruments into two categories: U.S. government securities and derivative contracts.

U.S. Government Securities. The Fund’s only market exposure in instruments held other than for speculative trading is in its U.S. Treasury Bill portfolio. As the Fund uses the amortized cost method for valuing its U.S. Treasury Bill portfolio, which approximates fair value, this portfolio is classified within Level 2 of the fair value hierarchy.

Derivative Contracts. Derivative contracts can be exchange-traded or over-the-counter (“OTC”). Exchange-traded derivatives typically fall within Level 1 or Level 2 of the fair value hierarchy depending on whether they are deemed to be actively traded or not. The Fund has exposure to exchange-traded derivative contracts through the Fund’s trading of exchange-traded futures contracts. The Fund’s exchange-traded futures contract positions are valued daily at settlement prices published by the applicable exchanges. In such cases, provided they are deemed to be actively traded, exchange-traded derivatives are classified within Level 1 of the fair value hierarchy. Less actively traded exchange-traded derivatives fall within Level 2 of the fair value hierarchy.

OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market-clearing transactions, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument as well as the availability of

23

pricing information in the market. For OTC derivatives that trade in liquid markets, such as generic forwards and swaps, model inputs can generally be verified and model selection does not involve significant management judgment. The OTC derivatives held by the Fund may include forwards and swaps. Spot and forward foreign currency contracts held by the Fund are valued at published daily settlement prices or at dealers’ quotes. The Fund’s forward and swap positions are typically classified within Level 2 of the fair value hierarchy.

Certain OTC derivatives trade in less liquid markets with limited pricing information, and the determination of fair value for these derivatives is inherently more difficult. Such instruments are classified within Level 3 of the fair value hierarchy. Where the Fund does not have corroborating market evidence to support significant model inputs and cannot verify the model to market transactions, transaction price is initially used as the best estimate of fair value. Accordingly, when a pricing model is used to value such an instrument, the model is adjusted so that the model value at inception equals the transaction price. The valuations of these less liquid OTC derivatives are typically based on Level 1 and/or Level 2 inputs that can be observed in the market, as well as unobservable Level 3 inputs. Subsequent to initial recognition, the Fund updates the Level 1 and Level 2 inputs to reflect observable market changes, with resulting gains and losses reflected within Level 3. Level 3 inputs are changed only when corroborated by evidence such as similar market transactions, third-party pricing services and/or broker or dealer quotations, or other empirical market data. In circumstances in which the Fund cannot verify the model value to market transactions, it is possible that a different valuation model could produce a materially different estimate of fair value. The Fund attempts to avoid holding less liquid OTC derivatives. However, once held, the market for any particular derivative contract could become less liquid during the holding period. As of and during the quarters ended September 30, 2013 and September 30, 2012, the Fund held no derivative contracts valued using Level 3 inputs.

The following table summarizes the valuation of the Fund’s assets and liabilities by the ASC 820 fair value hierarchy as of September 30, 2013 and December 31, 2012:

Superfund Green, L.P.

	Balance September 30, 2013		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	57	$	—	$	57	$	—
Futures contracts sold		275,736		275,736		—		—
Futures contracts purchased		509,116		509,116		—		—
Total Assets Measured at Fair Value	$	784,909	$	784,852	$	57	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	38	$	—	$	38	$	—
Futures contracts sold		195,739		195,739		—		—
Futures contracts purchased		831,866		831,866		—		—
Total Liabilities Measured at Fair Value	$	1,027,643	$	1,027,605	$	38	$	—

	Balance December 31, 2012		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	299,598	$	—	$	299,598	$	—
Futures contracts purchased		906,553		906,553		—		—
Futures contracts sold		314,602		314,602		—		—
Total Assets Measured at Fair Value	$	1,520,753	$	1,221,155	$	298,598	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	176,689	$	—	$	176,689	$	—
Total Liabilities Measured at Fair Value	$	176,689	$	—	$	176,689	$	—

24

Superfund Green, L.P. – Series A

	Balance September 30, 2013		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	21	$	—	$	21	$	—
Futures contracts sold		93,306		93,306		—		—
Futures contracts purchased		179,546		179,546		—		—
Total Assets Measured at Fair Value	$	272,873	$	272,852	$	21	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	9	$	—	$	9	$	—
Futures contracts sold		72,894		72,894		—		—
Futures contracts purchased		283,285		283,285		—		—
Total Liabilities Measured at Fair Value	$	356,188	$	356,179	$	9	$	—

	Balance December 31, 2012		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	89,246	$	—	$	89,246	$	—
Futures contracts purchased		309,618		309,618		—		—
Futures contracts sold		123,836		123,836		—		—
Total Assets Measured at Fair Value	$	522,700	$	433,454	$	89,246	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	62,254	$	—	$	62,254	$	—
Total Liabilities Measured at Fair Value	$	62,254	$	—	$	62,254	$	—

Superfund Green, L.P. – Series B

	Balance September 30, 2013		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	36	$	—	$	36	$	—
Futures contracts sold		182,430		182,430		—		—
Futures contracts purchased		329,570		329,570		—		—
Total Assets Measured at Fair Value	$	512,036	$	512,000	$	36	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	29	$	—	$	29	$	—
Futures contracts sold		122,845		122,845		—		—
Futures contracts purchased		548,581		548,581		—		—
Total Liabilities Measured at Fair Value	$	671,455	$	671,426	$	29	$	—

25

	Balance December 31, 2012		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	210,352	$	—	$	210,352	$	—
Futures contracts purchased		596,935		596,935		—		—
Futures contracts sold		190,766		190,766		—		—
Total Assets Measured at Fair Value	$	998,053	$	787,801	$	210,352	$	—
LIABILITIES
Unrealized depreciation on open forward contracts	$	114,435	$	—	$	114,435	$	—
Total Liabilities Measured at Fair Value	$	114,435	$	—	$	114,435	$	—

4. Disclosure of derivative instruments and hedging activities

The Fund follows ASC 815, Disclosures about Derivative Instruments and Hedging Activities (“ASC 815”). ASC 815 is intended to improve financial reporting for derivative instruments by requiring enhanced disclosure that enables investors to understand how and why an entity uses derivatives, how derivatives are accounted for, and how derivative instruments affect an entity’s results of operations and financial position.

Derivative instruments held by the Fund do not qualify as derivative instruments held as hedging instruments, as defined in ASC 815. Instead, the Fund includes derivative instruments in its trading activity. Per the requirements of ASC 815, the Fund discloses the gains and losses on its trading activities for both derivative and nonderivative instruments in the Statements of Operations.

The Fund engages in the speculative trading of forward contracts in currency and futures contracts in a wide range of commodities, including equity markets, interest rates, food and fiber, energy, livestock, and metals. ASC 815 requires entities to recognize all derivatives instruments as either assets or liabilities at fair value in the statement of financial position. Investments in forward contracts and commodity futures contracts are recorded in the Statements of Assets and Liabilities as “unrealized appreciation or depreciation on open forward contracts” and “futures contracts purchased” and “futures contracts sold.” Since the derivatives held or sold by the Fund are for speculative trading purposes, the derivative instruments are not designated as hedging instruments under the provisions of ASC 815. Accordingly, all realized gains and losses, as well as any change in net unrealized gains or losses on open positions from the preceding period, are recognized as part of the Fund’s realized and unrealized gain (loss) on investments in the Statements of Operations.

Superfund Capital Management believes futures and forward trading activity expressed as a percentage of net assets is indicative of trading activity. Information concerning the fair value of the Fund’s derivatives held long or sold short, as well as information related to the annual average volume of the Fund’s derivative activity, is as follows:

Superfund Green, L.P.

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of September 30, 2013, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at September 30, 2013		Liability Derivatives at September 30, 2013			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	57	$	—		$	57
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(38	)		(38	)
Futures contracts	Futures contracts purchased		509,116		(831,866	)		(322,750	)
Futures contracts	Futures contracts sold		275,736		(195,739	)		79,997
Totals		$	784,909	$	(1,027,643	)	$	(242,734	)

26

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2012, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at December 31, 2012		Liability Derivatives at December 31, 2012			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	299,598	$	—		$	299,598
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(176,689	)		(176,689	)
Futures contracts	Futures contracts purchased		906,553		—			906,553
Futures contracts	Futures contracts sold		314,602		—			314,602
Totals		$	1,520,753	$	(176,689	)	$	1,344,064

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Loss on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(52,860	)	$	11,396
Futures contracts	Net realized/unrealized loss on futures and forward contracts		(267,997	)		(915,393	)
Total		$	(350,857	)	$	(903,997	)

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized loss on futures and forward contracts	$	(493,044	)	$	(122,890	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		6,357,135			(1,463,908	)
Total		$	5,864,091		$	(1,586,798	)

27

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(996,010	)	$	421,538
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		1,233,288			(1,756,935	)
Total		$	237,278		$	(1,335,397	)

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain on Derivatives Recognized in Income		Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	317,840	$	(104,072	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		1,605,035		(2,363,659	)
Total		$	1,922,875	$	(2,467,731	)

Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of September 30, 2013 and December 31, 2012:

	As of September 30, 2013
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	57		0.0	*	$	(9	)		(0.0	)*	$	—		—		$	(29	)		(0.0	)*	$	19
Currency		200,951		0.7			(44,236	)		(0.2	)		3,157		0.0	*		(16,250	)		(0.1	)		143,622
Financial		197,809		0.7			(14,768	)		(0.1	)		3,010		0.0	*		(35,736	)		(0.1	)		150,315
Food & Fiber		13,912		0.1			(2,806	)		(0.0	)*		104,387		0.4			—			—			115,493
Indices		84,102		0.3			(470,917	)		(1.6	)		—		—			—			—			(386,815	)
Metals		12,344		0.0	*		(88,071	)		(0.3	)		10,017		0.0	*		(87,034	)		(0.3	)		(152,744	)
Energy		—		—			(198,050	)		(0.7	)		155,166		0.6			(55,500	)		(0.2	)		(98,384	)
Livestock		—		—			(13,020	)		(0.0	)*		—		—			(1,220	)		(0.0	)*		(14,240	)
Totals	$	509,175		1.8		$	(831,877	)		(2.9	)	$	275,737		1.0		$	(195,769	)		(0.7	)	$	(242,734	)

* Due to rounding

28

	As of December 31, 2012
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	299,300		0.9		$	(27,564	)		(0.1	)	$	298		0.0	*	$	(149,125	)		(0.4	)	$	122,909
Currency		148,788		0.4			(153,200	)		(0.4	)		305,562		0.9			(5,217	)		(0.0	)*		295,933
Financial		282,169		0.8			(35,118	)		(0.1	)		2,470		0.0	*		(13,501	)		(0.0	)*		236,020
Food & Fiber		1,350		0.0	*		(110	)		(0.0	)*		198,242		0.6			(2,910	)		(0.0	)*		196,572
Indices		515,158		1.5			(177,776	)		(0.5	)		—		—			(1,007	)		(0.0	)*		336,375
Metals		201,333		0.6			(56,090	)		(0.2	)		305,050		0.9			(743,794	)		(2.1	)		(293,501	)
Energy		180,319		0.5			(270	)		(0.0	)*		491,317		1.4			(221,610	)		(0.6	)		449,756
Totals	$	1,628,417		4.7		$	(450,128	)		(1.3	)	$	1,302,939		3.8		$	(1,137,164	)		(3.3	)	$	1,344,064

* Due to rounding

Superfund Green, L.P. average* monthly contract volume by market sector as of quarter ended September 30, 2013:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		29		30	$	44,876	$	56,429

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		674		341
Financial		1,551		2,236
Food & Fiber		131		198
Indices		2,466		607
Metals		449		374
Energy		648		463
Livestock		60		136
Total		6,008		4,385

* Based on quarterly holdings

Superfund Green, L.P. average* monthly contract volume by market sector as of quarter ended September 30, 2012:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		201		121	$	367,775	$	725,553

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		2,149		1,349
Financial		6,605		1,015
Food & Fiber		102		162
Indices		3,151		1,212
Metals		1,132		352
Energy		945		545
Livestock		88		140
Total		14,373		4,896

* Based on quarterly holdings

29

Superfund Green, L.P. trading results by market sector:

	For the Three Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(52,860	)	$	11,396		$	(41,464	)
Currency		(881,573	)		517,703			(363,870	)
Financial		36,624			53,691			90,315
Food & Fiber		(256,253	)		8,876			(247,377	)
Indices		1,225,066			(447,217	)		777,849
Metals		(144,187	)		(780,491	)		(924,678	)
Livestock		(181,650	)		(10,360	)		(192,010	)
Energy		(96,024	)		(257,595	)		(353,619	)
Total net trading losses	$	(350,857	)	$	(903,997	)	$	(1,254,854	)

	For the Nine Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(493,044	)	$	(122,890	)	$	(615,934	)
Currency		(1,286,981	)		(152,311	)		(1,439,292	)
Financial		161,801			(85,705	)		76,096
Food & Fiber		(1,045,085	)		(81,079	)		(1,126,164	)
Indices		3,855,809			(723,190	)		3,132,619
Metals		4,719,765			140,757			4,860,522
Livestock		172,700			(14,240	)		158,460
Energy		(220,874	)		(548,140	)		(769,014	)
Total net trading gains (losses)	$	5,864,091		$	(1,586,798	)	$	4,277,293

	For the Three Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(996,010	)	$	421,538		$	(574,472	)
Currency		(641,120	)		(302,606	)		(943,726	)
Financial		1,022,121			336,950			1,359,071
Food & Fiber		883,663			(53,857	)		829,806
Indices		128,232			(954,350	)		(826,118	)
Metals		1,001,773			(580,054	)		421,719
Livestock		(175,453	)		(165,523	)		(340,976	)
Energy		(985,928	)		(37,495	)		(1,023,423	)
Total net trading gains (losses)	$	237,278		$	(1,335,397	)	$	(1,098,119	)

	For the Nine Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	317,840		$	(104,072	)	$	213,768
Currency		(2,860,415	)		(897,508	)		(3,757,923	)
Financial		1,663,038			291,993			1,955,031
Food & Fiber		(1,120,649	)		(131,626	)		(1,252,275	)
Indices		(85,242	)		(1,133,531	)		(1,218,773	)
Metals		258,313			(190,117	)		68,196
Livestock		175,073			(245,353	)		(70,280	)
Energy		3,574,917			(57,517	)		3,517,400
Total net trading gains (losses)	$	1,922,875		$	(2,467,731	)	$	(544,856	)

30

Superfund Green, L.P. – Series A

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of September 30, 2013, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at September 30, 2013		Liability Derivatives at September 30, 2013			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	21	$	—		$	21
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(9	)		(9	)
Futures contracts	Futures contracts purchased		179,546		(283,285	)		(103,739	)
Futures contracts	Futures contracts sold		93,306		(72,894	)		20,412
Totals		$	272,873	$	(356,188	)	$	(83,315	)

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of December 31, 2012, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at December 31, 2012		Liability Derivatives at December 31, 2012			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	89,246	$	—		$	89,246
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(62,254	)		(62,254	)
Futures contracts	Futures contracts purchased		309,618		—			309,618
Futures contracts	Futures contracts sold		123,836		—			123,836
Totals		$	522,700	$	(62,254	)	$	460,446

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Loss on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(27,027	)	$	5,438
Futures contracts	Net realized/unrealized gain on futures and forward contracts		(174,723	)		(383,605	)
Total		$	(201,750	)	$	(378,167	)

31

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized loss on futures and forward contracts	$	(210,741	)	$	(26,980	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		2,445,296			(516,781	)
Total		$	2,234,555		$	(543,761	)

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(331,665	)	$	149,750
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		558,793			(666,727	)
Total		$	227,128		$	(516,977	)

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain on Derivatives Recognized in Income		Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	164,926	$	(23,828	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		723,237		(864,196	)
Total		$	888,163	$	(888,024	)

32

Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of September 30, 2013 and December 31, 2012:

	As of September 30, 2013
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	21		0.0	*	$	(3	)		(0.0	)*	$	—		—		$	(6	)		(0.0	)*	$	12
Currency		69,307		0.5			(17,598	)		(0.1	)		1,545		0.0	*		—			—			53,254
Financial		73,719		0.6			(3,905	)		(0.0	)*		970		0.0	*		(12,997	)		(0.1	)		57,787
Food & Fiber		4,575		0.0	*		—			—			40,579		0.3			—			—			45,154
Indices		28,355		0.2			(159,709	)		(1.2	)		—		—			—			—			(131,354	)
Metals		3,592		0.0	*		(29,558	)		(0.2	)		3,846		0.0	*		(37,368	)		(0.3	)		(59,488	)
Energy		—		—			(68,027	)		(0.5	)		46,367		0.4			(21,310	)		(0.1	)		(42,970	)
Livestock		—		—			(4,490	)		(0.0	)*		—		—			(1,220	)		(0.0	)*		(5,710	)
Totals	$	179,569		1.3		$	(283,290	)		(2.0	)	$	93,307		0.7		$	(72,901	)		(0.5	)	$	(83,315	)

* Due to rounding

	As of December 31, 2012
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	89,181		0.5		$	(9,816	)		(0.1	)	$	65		0.0	*	$	(52,438	)		(0.3	)	$	26,992
Currency		59,819		0.4			(62,740	)		(0.4	)		112,612		0.7			(2,103	)		(0.0	)*		107,588
Financial		113,718		0.7			(15,228	)		(0.1	)		1,185		0.0	*		(5,322	)		(0.0	)*		94,353
Food & Fiber		915		0.0	*		—			—			71,348		0.4			(1,248	)		(0.0	)*		71,015
Indices		176,408		1.1			(70,011	)		(0.4	)		—		—			(428	)		(0.0	)*		105,969
Metals		69,944		0.4			(22,498	)		(0.1	)		122,925		0.7			(287,400	)		(1.7	)		(117,029	)
Energy		59,561		0.4			(270	)		(0.0	)*		187,282		1.2			(75,015	)		(0.5	)		171,558
Totals	$	569,546		3.5		$	(180,563	)		(1.1	)	$	495,417		3.0		$	(423,954	)		(2.5	)	$	460,446

* Due to rounding

Series A average* monthly contract volume by market sector as of quarter ended September 30, 2013:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		7		10	$	12,864	$	17,622

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		239		130
Financial		588		829
Food & Fiber		42		71
Indices		901		233
Metals		158		137
Energy		219		173
Livestock		21		50
Total		2,175		1,633

* Based on quarterly holdings

Series A average* monthly contract volume by market sector as of quarter ended September 30, 2012:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		86		51	$	128,360	$	238,238

33

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		833		526
Financial		2,571		392
Food & Fiber		39		55
Indices		1,166		456
Metals		435		136
Energy		334		198
Livestock		32		52
Total		5,496		1,866

* Based on quarterly holdings

Series A trading results by market sector:

	For the Three Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(27,027	)	$	5,438		$	(21,589	)
Currency		(321,279	)		182,648			(138,631	)
Financial		6,062			29,280			35,342
Food & Fiber		(100,657	)		8,884			(91,773	)
Indices		433,463			(151,579	)		281,884
Metals		(66,839	)		(323,870	)		(390,709	)
Livestock		(64,330	)		(6,330	)		(70,660	)
Energy		(61,143	)		(122,638	)		(183,781	)
Total net trading losses	$	(201,750	)	$	(378,167	)	$	(579,917	)
	For the Nine Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(210,741	)	$	(26,980	)	$	(237,721	)
Currency		(464,220	)		(54,334	)		(518,554	)
Financial		43,756			(36,566	)		7,190
Food & Fiber		(404,040	)		(25,861	)		(429,901	)
Indices		1,398,769			(237,323	)		1,161,446
Metals		1,802,563			57,541			1,860,104
Livestock		68,520			(5,710	)		62,810
Energy		(52	)		(214,528	)		(214,580	)
Total net trading gains (losses)	$	2,234,555		$	(543,761	)	$	1,690,794
	For the Three Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(331,665	)	$	149,750		$	(181,915	)
Currency		(240,332	)		(114,020	)		(354,352	)
Financial		447,937			121,842			569,779
Food & Fiber		332,142			(24,639	)		307,503
Indices		49,897			(333,431	)		(283,534	)
Metals		371,012			(223,941	)		147,071
Livestock		(65,743	)		(62,849	)		(128,592	)
Energy		(336,120	)		(29,689	)		(365,809	)
Total net trading gains (losses)	$	227,128		$	(516,977	)	$	(289,849	)

34

	For the Nine Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	164,926		$	(23,828	)	$	141,098
Currency		(1,119,575	)		(343,045	)		(1,462,620	)
Financial		693,741			110,054			803,795
Food & Fiber		(484,746	)		(53,408	)		(538,154	)
Indices		(4,492	)		(386,105	)		(390,597	)
Metals		35,988			(67,769	)		(31,781	)
Livestock		65,923			(91,399	)		(25,476	)
Energy		1,536,398			(32,524	)		1,503,874
Total net trading gains (losses)	$	888,163		$	(888,024	)	$	139

Superfund Green, L.P. – Series B

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statement of Assets and Liabilities, as of September 30, 2013, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at September 30, 2013		Liability Derivatives at September 30, 2013			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	36	$	—		$	36
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(29	)		(29	)
Futures contracts	Futures contracts purchased		329,570		(548,581	)		(219,011	)
Futures contracts	Futures contracts sold		182,430		(122,845	)		59,585
Totals		$	512,036	$	(671,455	)	$	(159,419	)

The fair value of the Fund’s derivatives by instrument type, as well as the location of those instruments on the Statements of Assets and Liabilities, as of December 31, 2012, is as follows:

Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at December 31, 2012		Liability Derivatives at December 31, 2012			Net
Foreign exchange contracts	Unrealized appreciation on open forward contracts	$	210,352	$	—		$	210,352
Foreign exchange contracts	Unrealized depreciation on open forward contracts		—		(114,435	)		(114,435	)
Futures contracts	Futures contracts purchased		596,935		—			596,935
Futures contracts	Futures contracts sold		190,766		—			190,766
Totals		$	998,053	$	(114,435	)	$	883,618

35

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Loss on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(25,833	)	$	5,958
Futures contracts	Net realized/unrealized loss on futures and forward contracts		(123,274	)		(531,788	)
Total		$	(149,107	)	$	(525,830	)

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2013:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized loss on futures and forward contracts	$	(282,303	)	$	(95,910	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		3,911,839			(947,127	)
Total		$	3,629,536		$	(1,043,037	)

Effects of Derivative Instruments on the Statement of Operations for the three months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain (Loss) on Derivatives Recognized in Income			Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	(664,345	)	$	271,788
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		674,495			(1,090,208	)
Total		$	10,150		$	(818,420	)

36

Effects of Derivative Instruments on the Statement of Operations for the nine months ended September 30, 2012:

Derivatives not Designated as Hedging Instruments under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Income	Net Realized Gain on Derivatives Recognized in Income		Net Change in Unrealized Depreciation on Derivatives Recognized in Income
Foreign exchange contracts	Net realized/unrealized gain (loss) on futures and forward contracts	$	152,914	$	(80,244	)
Futures contracts	Net realized/unrealized gain (loss) on futures and forward contracts		881,798		(1,499,463	)
Total		$	1,034,712	$	(1,579,707	)

Series B gross and net unrealized gains and losses by long and short positions as of September 30, 2013 and December 31, 2012:

	As of September 30, 2013
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	36		0.0	*	$	(6	)		(0.0	)*	$	—		—		$	(23	)		(0.0	)*	$	7
Currency		131,644		0.9			(26,638	)		(0.2	)		1,612		0.0	*		(16,250	)		(0.1	)		90,368
Financial		124,090		0.8			(10,863	)		(0.1	)		2,040		0.0	*		(22,739	)		(0.2	)		92,528
Food & Fiber		9,337		0.1			(2,806	)		(0.0	)*		63,808		0.4			—			—			70,339
Indices		55,747		0.4			(311,208	)		(2.1	)		—		—			—			—			(255,461	)
Metals		8,752		0.0	*		(58,513	)		(0.4	)		6,171		0.0	*		(49,666	)		(0.3	)		(93,256	)
Energy		—		—			(130,023	)		(0.8	)		108,799		0.7			(34,190	)		(0.2	)		(55,414	)
Livestock		—		—			(8,530	)		(0.0	)*		—		—			—			—			(8,530	)
Totals	$	329,606		2.2		$	(548,587	)		(3.6	)	$	182,430		1.2		$	(122,868	)		(0.8	)	$	(159,419	)
*  Due to rounding
	As of December 31, 2012
	Long Positions Gross Unrealized											Short Positions Gross Unrealized
	Gains		% of Net Assets			Losses			% of Net Assets			Gains		% of Net Assets			Losses			% of Net Assets			Net Unrealized Gain (Loss) on Open Positions
Foreign Exchange	$	210,119		1.2		$	(17,748	)		(0.1	)	$	233		0.0	*	$	(96,687	)		(0.5	)	$	95,917
Currency		88,969		0.5			(90,460	)		(0.5	)		192,950		1.1			(3,114	)		(0.0	)*		188,345
Financial		168,451		0.9			(19,890	)		(0.1	)		1,285		0.0	*		(8,179	)		(0.0	)*		141,667
Food & Fiber		435		0.0	*		(110	)		(0.0	)*		126,894		0.7			(1,662	)		(0.0	)*		125,557
Indices		338,750		1.9			(107,765	)		(0.6	)		—		—			(579	)		(0.0	)*		230,406
Metals		131,389		0.7			(33,592	)		(0.2	)		182,125		1.0			(456,394	)		(2.5	)		(176,472	)
Energy		120,758		0.7			—			—			304,035		1.7			(146,595	)		(0.9	)		278,198
Totals	$	1,058,871		5.9		$	(269,565	)		(1.5	)	$	807,522		4.5		$	(713,210	)		(3.9	)	$	883,618

* Due to rounding

Series B average* monthly contract volume by market sector as of quarter ended September 30, 2013:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		22		20	$	32,012	$	38,807

37

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		435		211
Financial		963		1,407
Food & Fiber		89		127
Indices		1,565		374
Metals		291		237
Energy		429		290
Livestock		39		86
Total		3,833		2,752

* Based on quarterly holdings

Series B average* monthly contract volume by market sector as of quarter ended September 30, 2012:

	Average Number of Long Contracts		Average Number of Short Contracts		Average Value of Long Positions		Average Value of Short Positions
Foreign Exchange		115		70	$	239,415	$	487,315

	Average Number of Long Contracts		Average Number of Short Contracts
Currency		1,316		823
Financial		4,034		623
Food & Fiber		63		107
Indices		1,985		756
Metals		697		216
Energy		611		347
Livestock		56		88
Total		8,877		3,030

* Based on quarterly holdings

Series B trading results by market sector:

	For the Three Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(25,833	)	$	5,958		$	(19,875	)
Currency		(560,294	)		335,055			(225,239	)
Financial		30,562			24,411			54,973
Food & Fiber		(155,596	)		(8	)		(155,604	)
Indices		791,603			(295,638	)		495,965
Metals		(77,348	)		(456,621	)		(533,969	)
Livestock		(117,320	)		(4,030	)		(121,350	)
Energy		(34,881	)		(134,957	)		(169,838	)
Total net trading losses	$	(149,107	)	$	(525,830	)	$	(674,937	)
	For the Nine Months Ended September 30, 2013
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(282,303	)	$	(95,910	)	$	(378,213	)
Currency		(822,761	)		(97,977	)		(920,738	)
Financial		118,045			(49,139	)		68,906
Food & Fiber		(641,045	)		(55,218	)		(696,263	)
Indices		2,457,040			(485,867	)		1,971,173
Metals		2,917,202			83,216			3,000,418
Livestock		104,180			(8,530	)		95,650
Energy		(220,822	)		(333,612	)		(554,434	)
Total net trading gains (losses)	$	3,629,536		$	(1,043,037	)	$	2,586,499

38

	For the Three Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(664,345	)	$	271,788		$	(392,557	)
Currency		(400,788	)		(188,586	)		(589,374	)
Financial		574,184			215,108			789,292
Food & Fiber		551,521			(29,218	)		522,303
Indices		78,335			(620,919	)		(542,584	)
Metals		630,761			(356,113	)		274,648
Livestock		(109,710	)		(102,674	)		(212,384	)
Energy		(649,808	)		(7,806	)		(657,614	)
Total net trading gains (losses)	$	10,150		$	(818,420	)	$	(808,270	)
	For the Nine Months Ended September 30, 2012
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	152,914		$	(80,244	)	$	72,670
Currency		(1,740,840	)		(554,463	)		(2,295,303	)
Financial		969,297			181,939			1,151,236
Food & Fiber		(635,903	)		(78,218	)		(714,121	)
Indices		(80,750	)		(747,426	)		(828,176	)
Metals		222,325			(122,348	)		99,977
Livestock		109,150			(153,954	)		(44,804	)
Energy		2,038,519			(24,993	)		2,013,526
Total net trading gains (losses)	$	1,034,712		$	(1,579,707	)	$	(544,995	)

5. Due from/to brokers

Due from brokers consists of proceeds from securities sold. Amounts due from brokers may be restricted to the extent that they serve as deposits for securities sold short. Amounts due to brokers, if any, represent margin borrowings that are collateralized by certain securities. As of September 30, 2013 and December 31, 2012, there were no amounts due to brokers.

In the normal course of business, all of the Fund’s marketable securities transactions, money balances and marketable security positions are transacted with brokers. The Fund is subject to credit risk to the extent any broker with whom it conducts business is unable to fulfill contractual obligations on its behalf.

6. Allocation of net profits and losses

In accordance with the Fund’s Sixth Amended and Restated Limited Partnership Agreement, net profits and losses of the Fund are allocated to partners according to their respective interests in the Fund as of the beginning of each month.

Subscriptions received in advance, if any, represent cash received prior to the balance sheet date for subscriptions of the subsequent month and do not participate in the earnings of the Fund until the following month.

7. Related party transactions

Superfund Capital Management shall be paid a management fee equal to one-twelfth of 1.85% of month-end net assets (1.85% per annum), ongoing offering expenses equal to one-twelfth of 1% of month-end net assets (1% per annum), not to exceed the amount of actual expenses incurred, and monthly operating expenses equal to one-twelfth of 0.15% of month-end net assets (0.15% per annum), not to exceed the amount of actual expenses incurred. Superfund Capital Management will also be paid a monthly performance/incentive fee equal to 25% of the new appreciation without respect to interest income. Trading losses will be carried forward and no further performance/incentive fee may be paid until the prior losses have been recovered. In addition, a portion of the Fund’s brokerage fees will be paid to the clearing brokers for execution and clearing costs and the

39

balance will be paid to Superfund Capital Management for providing services akin to services provided by an introducing broker. Superfund USA, LLC an entity related to Superfund Capital Management by common ownership, shall be paid monthly selling commissions equal to one-twelfth of 4% (4% per annum) of the month-end net asset value of the Fund. However, the maximum cumulative selling commission per Unit is limited to 10% of the initial public offering price of Units sold. Selling commissions charged as of the end of each month in excess of 10% of the initial public offering price of Units sold shall not be paid out to any selling agent but shall instead be held in a separate account. Accrued monthly performance fees, if any, will then be charged against both net assets of the Fund as of month-end, as well as against amounts held in the separate account. Any increase or decrease in net assets and any accrued interest will then be credited or charged to each investor (a “Limited Partner”) on a pro rata basis. The remainder of the amounts held in the separate account, if any, shall then be reinvested in Units as of such month-end, at the current net asset value, for the benefit of the appropriate Limited Partner. The amount of any distribution to a Limited Partner, any amount paid to a Limited Partner on redemption of Units and any redemption fee paid to Superfund Capital Management upon the redemption of Units will be charged to that Limited Partner. Selling commissions are shown gross on the statement of operations and amounts over the 10% selling commission threshold are rebated to the Limited Partner by purchasing Units of the Fund.

As of September 30, 2013, Superfund Capital Management owned 386.799 Units of Series A, representing 3.29% of the total issued Units of Series A, and 551.711 Units of Series B, representing 4.42% of the total issued Units of Series B, having a combined value of $1,118,219.

8. Financial highlights

Financial highlights for the period January 1 through September 30 are as follows:

	2013						2012
	Series A			Series B			Series A			Series B
Total Return*
Total return before incentive fees and MF Global reserve		2.9	%		6.0	%		(7.4	)%		(9.6	)%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%
MF Global reserve		0.0	%		0.0	%		0.2	%		(0.2	)%
Total return after incentive fees		2.9	%		6.0	%		(7.2	)%		(9.8	)%
Ratios to average partners’ capital**
Operating expenses before incentive fees		6.6	%		7.2	%		6.8	%		7.4	%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%
MF Global reserve		0.0	%		0.0	%		(0.2	)%		0.1	%
Total expenses		6.6	%		7.2	%		6.6	%		7.5	%
Net investment loss		(6.5	)%		(7.2	)%		(6.7	)%		(7.4	)%
Net asset value per unit, beginning of period	$	1,130.49		$	1,138.65		$	1,306.48		$	1,391.44
Net investment loss		(79.22	)		(91.16	)		(84.39	)		(102.69	)
Net gain (loss) on investments		112.49			159.67			(9.28	)		(33.33	)
Net asset value per unit, end of period	$	1,163.76		$	1,207.16		$	1,212.81		$	1,255.42
Other per Unit information:
Net increase (decrease) in net assets from operations per Unit (based upon weighted average number of Units during period) upon weighted average number of Units during period)	$	49.50		$	94.86		$	(95.65	)	$	(130.46	)
Net increase (decrease) in net assets from operations per Unit (based upon change in net asset value per Unit) upon change in net asset value per Unit)	$	33.27		$	68.51		$	(93.67	)	$	(136.02	)

40

Financial highlights for the period July 1 through September 30 are as follows:

	2013						2012
	Series A			Series B			Series A			Series B
Total Return*
Total return before incentive fees		(5.9	)%		(6.3	)%		(4.0	)%		(5.9	)%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%
Total return after incentive fees		(5.9	)%		(6.3	)%		(4.0	)%		(5.9	)%
Ratios to average partners’ capital**
Operating expenses before incentive fees		2.1	%		2.3	%		2.3	%		2.6	%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%
Total expenses		2.1	%		2.3	%		2.3	%		2.6	%
Net investment loss		(2.1	)%		(2.3	)%		(2.3	)%		(2.6	)%
Net asset value per unit, beginning of period	$	1,237.08		$	1,287.96		$	1,263.62		$	1,334.65
Net investment loss		(25.00	)		(28.51	)		(28.67	)		(34.09	)
Net loss on investments		(48.32	)		(52.29	)		(22.14	)		(45.14	)
Net asset value per unit, end of period	$	1,163.76		$	1,207.16		$	1,212.81		$	1,255.42
Other per Unit information:
Net decrease in net assets from operations per Unit (based upon weighted average number of Units during period) upon weighted average number of Units during period)	$	(73.58	)	$	(81.05	)	$	(44.53	)	$	(76.09	)
Net decrease in net assets from operations per Unit (based upon change in net asset value per Unit) upon change in net asset value per Unit)	$	(73.32	)	$	(80.80	)	$	(50.81	)	$	(79.23	)

* Total return is calculated for each Series of the Fund taken as a whole. An individual’s return may vary from these returns based on the timing of capital transactions.

** Annualized for periods less than a year.

Financial highlights are calculated for each series taken as a whole. An individual partner’s return, per unit data, and ratios may vary based on the timing of capital transactions.

9. Financial instrument risk

In the normal course of its business, the Fund is party to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss. These financial instruments may include forwards, futures and options, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash flows, to purchase or sell other financial instruments at specific terms at specific future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange or OTC. Exchange-traded instruments are standardized and include futures and certain option contracts. OTC contracts are negotiated between contracting parties and include forwards and certain options. Each of these instruments is subject to various risks similar to those related to the underlying financial instruments including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange-traded instruments because of the greater risk of default by the counterparty to an OTC contract.

For the Fund, gross unrealized gains and losses related to exchange-traded futures were $784,855 and $1,027,608, respectively, and gross unrealized gains and losses related to non-exchange-traded forwards were $57 and $38, respectively, at September 30, 2013.

For Series A, gross unrealized gains and losses related to exchange-traded futures were $272,855 and $356,182, respectively, and gross unrealized gains and losses related to non-exchange-traded forwards were $21 and $9, respectively, at September 30, 2013.

For Series B, gross unrealized gains and losses related to exchange-traded futures were $512,000 and $671,426, respectively, and gross unrealized gains and losses related to non-exchange-traded forwards were $36 and $29, respectively, at September 30, 2013.

Market risk is the potential for changes in the value of the financial instruments traded by the Fund due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by conditions such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures interest positions at the same time, and Superfund Capital Management was unable to offset such positions, the Fund could experience substantial losses.

41

Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. Credit risk with respect to exchange-traded instruments is reduced to the extent that an exchange or clearing organization acts as a counterparty to the transactions. The Fund’s risk of loss in the event of counterparty default is typically limited to the amounts recognized in the statements of assets and liabilities and not represented by the contract or notional amounts of the instruments. As the Fund’s assets are held in segregated accounts with futures commission merchants, the Fund has credit risk and concentration risk. The Fund’s futures commission merchants are currently ADM Investor Services, Inc., Barclays Capital Inc. and Citigroup Global Markets Inc.

Superfund Capital Management monitors and attempts to control the Fund’s risk exposure on a daily basis through financial, credit, and risk management monitoring systems, and accordingly believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Fund is subject. These monitoring systems allow Superfund Capital Management to statistically analyze actual trading results with risk adjusted performance indicators and correlation statistics. In addition, on-line monitoring systems provide account analysis of futures and forward positions by sector, margin requirements, gain and loss transactions, and collateral positions.

The majority of these futures and forwards mature within one year of September 30, 2013. However, due to the nature of the Fund’s business, these instruments may not be held to maturity.

10. Subscriptions and redemptions

Investors must submit subscriptions at least five business days prior to the applicable month-end closing date and they will be accepted once payments are received and cleared. All subscription funds are required to be promptly transmitted to the escrow agent, U.S. Bank National Association. Subscriptions must be accepted or rejected by Superfund Capital Management within five business days of receipt, and the settlement date for the deposit of subscription funds in escrow must be within five business days of acceptance. No fees or costs will be assessed on any subscription while held in escrow, irrespective of whether the subscription is accepted or the subscription funds are returned.

A Limited Partner may request any or all of his investment in such Series be redeemed by such Series at the net asset value of a Unit within such Series as of the end of each month, subject to a minimum redemption of $1,000 and subject further to such Limited Partner having an investment in such Series, after giving effect to the requested redemption, at least equal to the minimum initial investment amount of $10,000. Limited Partners must transmit a written request of such redemption to Superfund Capital Management not less than five business days prior to the end of the month (or such shorter period as permitted by Superfund Capital Management) as of which the redemption is to be effective. Redemptions will generally be paid within twenty days after the effective date of the redemption. However, in special circumstances, including, but not limited to, inability to liquidate dealers’ positions as of a redemption date or default or delay in payments due to each Series from clearing brokers, banks or other persons or entities, each Series may in turn delay payment to persons requesting redemption of the proportionate part of the net assets of each Series represented by the sums that are subject of such default or delay. The Prospectus of the Fund dated May 1, 2013 included within the Registration Statement on Form S-1 (File No. 333-184998) provides if the net asset value per Unit within a Series as of the end of any business day declines by 50% or more from either the prior year-end or the prior month-end Unit value of such Series, Superfund Capital Management will suspend trading activities, notify all Limited Partners within such Series of the relevant facts within seven business days and declare a special redemption period.

11. Indemnification

In the normal course of business, the Fund enters into contracts that provide general indemnifications. The Fund’s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund, and therefore cannot be established; however, based on experience, the risk of loss from such claims is considered remote.

12. Subsequent events

Superfund Capital Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were filed and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

INTRODUCTION

The Fund commenced the offering of its Units on October 22, 2002. The initial offering terminated on October 31, 2002 and the Fund commenced operations on November 5, 2002. The continuing offering period commenced at the termination of the initial offering period and is ongoing. Subscription and redemption data is presented for both the Fund, as the SEC registrant, and for Series A and Series B, individually. For the quarter ended September 30, 2013, the Fund has accepted subscriptions totaling $251,470 and redemptions over the same period totaled $2,077,342. For the quarter ended September 30, 2013, subscriptions totaling $112,658 in Series A and $138,812 in Series B have been accepted and redemptions over the same period totaled $1,058,399 in Series A and $1,018,943 in Series B.

LIQUIDITY

Most U.S. commodity exchanges limit fluctuations in futures contracts prices during a single day by regulations referred to as “daily price fluctuation limits” or “daily limits.” During a single trading day, no trades may be executed at prices beyond the daily limit. This may affect the Fund’s ability to initiate new positions or close existing ones or may prevent it from having orders executed. Futures prices have occasionally moved the daily limit for several consecutive days with little or no trading. Similar occurrences could prevent the Fund from promptly liquidating unfavorable positions and subject the Fund to substantial losses, which could exceed the margin initially committed to such trades. In addition, even if futures prices have not moved the daily limit, the Fund may not be able to execute futures trades at favorable prices if little trading in such contracts is taking place.

Trading in forward contracts introduces a possible further impact on liquidity. Because such contracts are executed “off exchange” between private parties, the time required to offset or “unwind” these positions may be greater than that for regulated instruments. This potential delay could be exacerbated to the extent a counterparty is not a U.S. person.

Other than these limitations on liquidity, which are inherent in the Fund’s futures and forward trading operations, the Fund’s assets are expected to be highly liquid.

CAPITAL RESOURCES

The Fund will raise additional capital only through the sale of Units offered pursuant to the continuing offering and does not intend to raise any capital through borrowings. Due to the nature of the Fund’s business, it will make no capital expenditures and will have no capital assets which are not operating capital or assets.

RESULTS OF OPERATIONS

Three Months Ended September 30, 2013

Series A:

Net results for the quarter ended September 30, 2013 were a loss of 5.9% in net asset value compared to the quarter ending June 30, 2013. In this period, Series A experienced a net decrease in net assets from operations of $887,296. This decrease consisted of interest income of $259, trading losses of $579,917, and total expenses of $307,638. Expenses included $67,985 in management fees, $36,749 in ongoing offering expenses, $5,512 in operating expenses, $146,996 in selling commissions, $48,968 in brokerage commissions, and $1,428 in other expenses. At September 30, 2013, the net asset value per Unit of Series A was $1,163.76.

Series B:

Net results for the quarter ended September 30, 2013 were a loss of 6.3% in net asset value compared to the quarter ending June 30, 2013. In this period, Series B experienced a net decrease in net assets from operations of $1,048,178. This decrease consisted of interest income of $410, other income of $1, trading losses of $674,937, and total expenses of $373,652. Expenses included $75,927 in management fees, $41,041 in ongoing offering expenses, $6,156 in operating expenses, $164,165 in selling commissions, $84,402 in brokerage commissions, and $1,961 in other expenses. At September 30, 2013, the net asset value per Unit of Series B was $1,207.15.

Fund results for the 3rd Quarter 2013:

The Fund’s strategies produced negative returns in September. The Fund’s long positions in the energy sector hurt performance as natural gas futures continued to retrace from near three-month highs amid reduced anticipated demand based on U.S. weather forecasts. The Fund’s long positions in the metals markets also underperformed as gold futures tumbled following a

43

report that U.S. jobless claims fell to the lowest level since April 2006. Gold and silver continued to decline on concerns over a possible shutdown of the U.S. government in October. The Fund’s positions in the bonds sector produced favorable returns as Japan’s inflation rate soared to its highest level since 2008.

In August, the Fund underperformed as gold and silver continued their recovery from the previous month on news that U.S. home sales fell below consensus forecast indicating that the Fed will continue its stimulus program. The Fund’s short positions in the grain markets produced negative returns as soybeans rose to a nine-month high. The Fund’s long positions in crude yielded positive returns as prices rose at the end of the month to its highest level since April 2011. Crude’s rally coincided with signs of accelerating economic growth in Europe and the contemplation of Western military action against Syria.

The Fund produced negative returns in July. The Fund’s short positions in the metals and bonds markets suffered as the market weighed the U.S. Federal Reserve’s (the “Fed”) next move on monetary stimulus against the prospects for demand amid higher prices. Gold also recovered from a three-year low on news that the Fed would only start phasing out the stimulus once the economy was strong enough to stand on its own. This news allayed fears of imminent cuts to the Fed’s monthly bond purchases. The losses from the Fund’s metals and bond positions was partly offset by gains from the Fund’s long positions in the energy sector as U.S. Energy Information Administration data showed oil inventories feel for a fourth consecutive week.

Three Months Ended June 30, 2013

Series A:

Net results for the quarter ended June 30, 2013, were a gain of 2.8% in net asset value compared to the preceding quarter end. In this period, Series A experienced a net increase in net assets from operations of $479,463. This increase consisted of income of $376, trading gains of $835,069 and total expenses of $355,982. Expenses included $77,822 in management fees, $42,066 in ongoing offering expenses, $6,310 in operating expenses, $168,262 in selling commissions, $59,802 in brokerage commissions and $1,720 in other expenses. At June 30, 2013 and December 31, 2012, the net asset value per Unit of Series A was $1,237.08 and $1,130.49, respectively.

Series B:

Net results for the quarter ended June 30, 2013, were a gain of 2.1% in net asset value compared to the preceding quarter end. In this period, Series B experienced a net increase in net assets from operations of $465,075. This increase consisted of income of $579, trading gains of $900,708 and total expenses of $436,212. Expenses included $87,286 in management fees, $47,181 in ongoing offering expenses, $7,077 in operating expenses, $188,725 in selling commissions, $102,926 in brokerage commissions and $3,017 in other expenses. At June 30, 2013 and December 31, 2012, the net asset value per Unit of Series B was $1,287.96 and $1,138.65 respectively.

Fund results for 2^nd Quarter 2012:

The Fund produced negative returns in June, driven primarily by losses from the Fund’s allocation to energies markets as U.S. Department of Energy data showed higher than expected oil inventories. These losses were tempered slightly by gains experienced from the Fund’s metals positions, as gold and silver each dropped to its lowest level in over two years. The Fund’s allocation to the bonds markets also produced positive returns as a rise in the U.S. dollar produced sharp downward pressure on interest rate products.

In May, the Fund yielded disappointing results due primarily to its positions in the bonds and energy sectors. The Fund’s long natural gas positions negatively affected performance amid reports from the U.S. Energy Information Administration of rising inventories. The U.S. Environmental Protection Agency also issued reports downplaying the environmental impact of natural gas fracking. The Fund’s long soybean positions produced sold returns in May as China, the world’s largest soybean consumer, continued to show increased demand.

In April, the Fund’s strategies posted strong returns amidst high volatility in several key markets. The Fund’s positions in the metals sector generated positive returns, as did its long natural gas positions. The Fund’s allocation to the grains sector suffered in April after the U.S. Department of Agriculture (“USDA”) reported that farmers had planted 2 million more acres of corn than expected.

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Three Months Ended March 31, 2013

Series A:

Net results for the quarter ended March 31, 2013, were a gain of 6.5% in net asset value compared to the preceding quarter end. In this period, Series A experienced a net increase in net assets from operations of $1,046,039. This increase consisted of income of $380, trading gains of $1,435,642 and total expenses of $389,983. Expenses included $77,736 in management fees, $42,020 in ongoing offering expenses, $6,304 in operating expenses, $168,078 in selling commissions, $92,941 in brokerage commissions and $2,904 in other expenses. At March 31, 2013 and December 31, 2012, the net asset value per Unit of Series A was $1,203.82 and $1,130.49, respectively.

Series B:

Net results for the quarter ended March 31, 2013, were a gain of 10.8% in net asset value compared to the preceding quarter end. In this period, Series B experienced a net increase in net assets from operations of $1,881,402. This increase consisted of income of $493, trading gains of $2,360,728 and total expenses of $479,819. Expenses included $86,446 in management fees, $46,728 in ongoing offering expenses, $7,010 in operating expenses, $186,909 in selling commissions, $148,280 in brokerage commissions and $4,446 in other expenses. At March 31, 2013 and December 31, 2012, the net asset value per Unit of Series B was $1,261.83 and $1,138.65 respectively.

Fund results for 1^st Quarter 2013:

In March, the Fund’s trading strategies produced positive returns. United States (“U.S.”) stock indices rose for a third consecutive month with the Standard and Poor’s 500 Index (the “S&P 500”) approaching an all-time high, leading to profitable returns for the Fund’s long positions. The Fund’s long positions in European long-term interest rate futures produced significant gains as investors feared the banking crisis in Cyprus could spill over into neighboring economies. Short positions in base metals added to positive returns as markets were pressured by the debt crisis in Europe, slumping Chinese stocks, and the rising U.S. dollar. The Fund also benefited from long natural gas positions as below normal temperatures forecasted for April lifted futures to an 18-month high. Larger than expected U.S. inventories and record projected planting acreage sent Chicago Board of Trade (“CBOT”) corn to limit down conditions on the last day of trading, resulting in losses for the Fund’s long positions across the grain sector.

The Fund produced positive results in February as unmet expectations for global demand sent commodities lower while unsettling election results in Italy and negative growth renewed European debt concerns. Long positions in equity indices yielded losses for the Fund as European political instability and the slow pace of economic activity again raised concerns over regional finances. The Fund’s long bond positions generated solid returns in treasuries as European debt crisis fears were reignited in reaction to inconclusive Italian election results. Long positions in the money market sector generated favorable returns for the Funds as rising interbank borrowing costs prompted European Central Bank (“ECB”) President Mario Draghi to restate the ECB’s readiness to loosen monetary policy, lowering yield expectations. The U.S. dollar strengthened dramatically against a basket of world currencies leading to disappointing results for the Fund’s long positions in counter-currencies. The Fund’s short position in London Metal Exchange (“LME”) aluminum generated healthy returns as anticipated increases in demand had yet to be realized, Chinese production swelled and stockpiles tracked by LME rose for a fifth straight month. After climbing 6% in January, the crude oil complex fell back as the slow pace of recovery across the globe was unable to support a further advance, leading to losses for the Fund’s long positions in the energies sector.

In January, the Fund produced positive returns to start 2013 with gains across multiple market sectors. The Fund’s strategies performed well in global equities as indices reached multi-year highs on growing investor optimism, producing profits for the Fund’s long positions. The Fund’s long positions in base metals produced favorable results with the rebound in the global economy leading to increased industrial demand. Long allocations across the energies sector also generated healthy returns for the Fund as improving global economic conditions lifted demand prospects while unrest across North Africa and the Middle East injected geopolitical risk premium. Growing global economic stability eroded demand for the safety of government securities in January, leading to negative returns for the Fund’s long positions in the bonds sector. Expectations for the removal of excess liquidity from the financial system led to losses for the Fund’s long positions in money market futures.

Three Months Ended September 30, 2012

Series A:

Net results for the quarter ended September 30, 2012 were a loss of 4.0% in net asset value compared to the quarter ending June 30, 2012. In this period, Series A experienced a net decrease in net assets from operations of $826,543. This decrease consisted of interest income of $2,036, other income of $1, trading losses of $289,849, and total expenses of $538,731. Expenses included $108,368 in management fees, $58,577 in ongoing offering expenses, $8,787 in operating expenses, $234,309 in selling commissions, $125,292 in brokerage commissions, and $3,398 in other expenses. At September 30, 2012, the net asset value per Unit of Series A was $1,212.81.

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Series B:

Net results for the quarter ended September 30, 2012 were a loss of 5.9% in net asset value compared to the quarter ending June 30, 2012. In this period, Series B experienced a net decrease in net assets from operations of $1,459,790. This decrease consisted of interest income of $1,955, other income of $3, trading losses of $808,270, and total expenses of $653,478. Expenses included $117,999 in management fees, $63,783 in ongoing offering expenses, $9,567 in operating expenses, $255,133 in selling commissions, $204,338 in brokerage commissions, and $2,658 in other expenses. At September 30, 2012, the net asset value per Unit of Series B was $1,255.42.

Fund results for the 3rd Quarter 2012:

In September, the Fund’s trading strategies produced negative results as the expansion of accommodative policies by central bankers led investors to add risk. Optimism that followed the ECB’s decision to buy Spanish and Italian bonds was amplified by the Fed’s announcement of a third round of quantitative easing (“QE3”), lifting equities worldwide. The Fed revealed an open-ended plan to buy mortgage-backed securities while holding the federal funds rate near zero through at least mid-2015. The Bank of Japan’s (the “BOJ”) move to add 10 trillion yen to their asset purchase program and China’s openness to stimulus further supported stocks. Base metals climbed on hopes for increased demand while gold and silver benefited as inflation hedges. NY crude topped $100/bbl before growing stockpiles and the end of the summer driving season helped to reverse the trend. Natural gas rallied to a 2012 high on below normal gains in inventory ahead of the winter heating season. The Fund’s short-term strategies posted mixed results with gains in metals and losses in currencies. The Fund’s bond positions produced moderate losses in September as central bank intervention drove market movement. German bund yields climbed sharply as the ECB’s plan to purchase Italian and Spanish debt reduced safe-haven demand. Bund futures reached 3-month lows before concern over austerity measures within Spain’s 2013 budget and its ability to cooperate with the ECB sparked anxieties and reversed the move. After dipping 1.5%, U.S. 10-year note futures recovered to nearly unchanged on higher than expected U.S. jobless claims. The BOJ also eased, adding 10 trillion yen to its existing asset purchase program, suppressing Japanese Government Bonds (“JGB”) yields. The Fund’s allocation to currencies underperformed in September as the U.S. dollar lost ground against all major currencies in response to the Fed stimulus. Market expectations for QE3 proved to be correct as a weak employment data prompted further injections of liquidity. The Fed moved its focus to the mortgage market, announcing open-ended monthly purchases of $40 billion in mortgage backed securities. The ECB implemented a broad bond purchase program but stopped short of lowering interest rates. These moves prompted a decline in the U.S. dollar versus the euro (+2.2%) and the British pound versus the U.S. dollar (+1.6%). The Canadian dollar (+0.3%) strengthened versus the U.S. dollar as jobs data was better-than-expected. In Japan, the expansion of the BOJ’s bond purchase program led to volatile month for the yen (+0.5% versus the U.S. dollar). The Fund’s positions in the metals sector generated positive results in September as plans for open-ended asset purchases by U.S. and European central bankers and new infrastructure spending in China lifted both precious and base metal alike. Disappointing U.S. jobs data fueled growing expectations for monetary stimulus while China’s approval of new infrastructure spending supported metals early. Metals spiked higher following the announcement of QE3 with LME Aluminum (+11.3%) posting 11 consecutive gains, its longest rally in 25 years. LME and COMEX copper gained 7.7% and 8.7% respectively on anticipated raw material demand. Labor unrest in South Africa forced the closure of mines owned by Anglo American Platinum, the world’s top producer. Platinum was up 19.2% since August 16, 2012. The Fund’s allocations to the energies sector yielded disappointing results in September as the 30% climb in crude since June abruptly reversed on demand concerns and a build in supplies. Saudi Arabia’s commitment to increase production, concern over a Spanish bailout and a reduced profit outlook from economic bellwether Fedex sent prices lower. The September 19, 2012 inventory report showed a build of +8.53M bbl, culminating in a 4.4% decline for crude. Gasoline strengthened against crude, climbing 1.2%, as refining capacity remained constrained. Heating oil also gained as the winter heating season draws near. Natural gas (+12.1%) finished at 2012 highs on news that stockpiles will fall short of capacity prior to winter.

In August, apart from its perpetual long gold position, the Fund’s strategies produced moderately disappointing results as guidance from central bankers increased investor appetite for risk. ECB president Mario Draghi’s late July statement that the he would do “whatever it takes” to preserve the euro proved to be the driving force behind a rally in European equity markets. German Chancellor Angela Merkel reaffirmed her country’s support for the ECB’s approach, increasing expectations for monetary stimulus. U.S. equities rallied in tandem with Europe, aided by a series of positive economic data, with the S&P 500 reaching a four-year high. Fed minutes released in advance of the highly anticipated Jackson Hole symposium revealed the Federal Open Market Committee’s (“FOMC”) intention to implement a third round of quantitative easing unless the strength and pace of economic recovery improves soon. Energy markets rallied markedly, lifted by U.S. and euro-zone optimism, heightened tensions in the Middle East, and the falling U.S. dollar. The drought gripping the U.S. Midwest drove corn and soybean to all-time highs. The Fund’s short-term strategies underperformed with losses in equities, energies and currencies. The Fund’s positions in equities underperformed in August as European leaders worked to improve the region’s fiscal position, reducing anxiety over euro-zone debt issues. Yields in Spain and Italy fell back on increasing expectations that the ECB will take action to avoid default. Equities in the United Kingdom (the “U.K.”) (+1.8%), Italy (+8.9%), and Spain (+10.5%) all finished with gains in spite of weak economic data. France (+3.6%) and Germany (+2.7%) managed to avoid recession during the second quarter, outperforming their neighbors in the European Union (the “EU”). In the U.S., the S&P 500 (+2.2%) also

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gained, posting a four-year high. Asian equities in Japan (+1.6%) and Taiwan (+3.3%) finished on the plus side while stocks in China (-4.3%) fell as exports slowed. The Fund’s bond positions posted disappointing results in August as U.S. treasuries sold off steadily throughout the first half of the month in response to positive economic data and euro-zone optimism. Retail sales rose for the first time in four months while an encouraging 1.8% gain in housing prices signaled a strengthening economy. Reduced demand for safe-haven assets lifted U.S. 10-year note yields to an intraday three-month high of 1.86% before falling after Fed minutes alluded to the possible need for further stimulus. Positive economic news in Europe also contributed to risk appetite with better-than-expected gross domestic product (“GDP”) data from Germany (+0.3%) and France (unchanged), pressuring German bunds. The Fund’s positions in the energies sector benefited in August as the uptrend in the crude oil complex that began in July continued. Stronger employment data in the U.S. and an easing of European economic fears boosted the crude market early on expectations for increased demand. Inventory reports showed both crude and heating oil shrunk with heating oil inventories falling to a seasonally adjusted 4-year low. Tensions in the Middle East showed no signs of abating as hostilities continued to escalate in Syria. Crude prices climbed 9.6% while heating oil rose 11.5%. Natural gas prices fell back sharply, -12.8% to $2.799 per million British thermal unit (“btu”), as the supply glut rose still further and temperatures moderated. The Fund’s allocation to currencies produced negative results in August. High expectations on the latest ECB meeting went unmet as little new information was revealed and rates were left unchanged. Germany’s firm support of the euro and Greece’s reaffirmed dedication to meeting bailout targets, bolstered confidence. As a result, both the euro (+2.2%) and British pound (+1.3%) gained ground. The U.S. dollar (-1.8%) was mostly weaker as the slow pace of U.S. growth prompted the FOMC to suggest that additional stimulus might be necessary to spur a sustainable recovery. The Australian dollar (-1.5%) fell as weakening Chinese demand threatened to dampen exports. The Japanese yen (-0.3%) lost ground early on weak economic data but quickly rebounded.

In July, the Fund’s trading strategies returned to positive territory as capital preservation was the primary goal for investors. Unsustainable debt in Spain had government officials considering all options including bailout, default, or even leaving the euro while Greece’s troika of creditors found the country to be falling short of budgetary targets required for their 240 billion euro rescue package. China’s growth slowed to 7.6%, a three-year low, prompting two rate cuts so far this year. Investors seeking refuge redirected cash into safe haven debt instruments, pushing yields to record lows. In the U.S., the Great Plains growing region is facing the worst drought since 1956. Less than one-third of the U.S. corn and soybean crop is in good condition, propelling both markets to all-time highs. The Fund’s short-term strategies produced mixed results with gains in interest rates and losses in metals. The Fund’s equity positions underperformed in July. Volatility persisted as the overhang of European economic difficulties and slowing global growth continued to weigh on markets. Spain’s Ibex35 (-4.0%) fell to its lowest point since 2003 while the Italian Mib40 (-3.0%) reached an all-time low, prompting regulators to reinstitute short-sale bans in both countries. In the U.S., the Dow Jones Industrial Average (the “Dow”) (+1.1%) was supported by a drop in jobless claims and encouraging durable goods data. In China (+1.1%), slowing growth prompted a second cut to its key lending rate while Japanese stocks (-3.7%) lost ground, pressured by the yen’s appreciation. The Fund’s bond positions were profitable in July as investors poured money into safe-haven debt instruments despite record low yields. Spain remains at the center of Europe’s economic woes with 10-year bond yields reaching 7.75%, a euro-era record. In response, investment into German bunds increased, which twice touched a record low yield of 1.127%. British Long Gilts (+2.3%) also benefited from safe-haven inflows as Bank of England officials announced another 50 billion pounds in quantitative easing. Robust demand for the safety of U.S. debt drove 10-year and 30-year yields to record lows as well, at 1.379% and 2.4405% respectively. The Fund’s allocation to short-term interest rates generated positive returns in July as markets welcomed action from the ECB while looking to the Fed to follow suit. The ECB cut its benchmark lending rate to a record low of 0.75% and its overnight deposit rate to 0% in an effort to stave off recession. Speculation for further cuts drove the Euribor rate to a record low of 0.401%. Markets expect the Fed may now reconsider cutting the interest on excess reserves (“IOER”) from 0.25% in order to incentivize banks to reallocate reserves away from the Fed and into higher yielding areas. Anticipation for an IOER cut, coordinated with additional Fed tools, lifted Eurodollar futures. The Fund’s allocation to currencies produced moderate gains in July as global economic uncertainly drove money flows into safe-haven sovereign currencies at the expense of the euro. A permanent solution to the debt issues that plague southern Europe remained elusive, pushing the euro to a two-year low versus the U.S. dollar ($1.2043/euro). The yen maintained its favored status, up 7.2% since mid-March, while the Aussie dollar (+2.9%) also remained strong. The Canadian dollar (+1.5%) approached parity with its U.S. counterpart on relative economic outperformance. The Fund’s strategies produced strong returns in grains in July as the U.S. Midwest is experiencing its worst drought in nearly six decades. As of July 30^th, only 25% of the crop was in good condition, the lowest since 1988. The USDA lowered yield estimates 12% to and is expected to make another significant cut in August. December corn gained 27% in July and is 59% higher since mid-June. It is likely that later maturing soybeans will be equally affected by the drought. The most active corn and soybean contracts posted all-time highs of $8.20  ¹⁄₂ and 16.91  ¹⁄₂ a bushel respectively. The Fund’s positions in the metals sector underperformed in July as Comex gold continued to trade in a narrow range and global instability hurt base metal demand. LME warehouse zinc (-1.9%) supplies surpassed one million metric tons for the first time in 17 years while copper imports to China fell to a 10-month low. Comex copper declined 2.1%, closing at $341.75/lb. Gold was confined to a 4.6% range as traders awaited signals from central bankers towards easing policies. The Fund’s allocation to the energy sector yielded disappointing results in July as crude oil mounted a rally from the dramatic decline over the last several months. Short-covering helped to start prices moving up early in the month as speculators sought to lock in gains. Rising political tensions between Israel and Iran helped to reinforce the rally with unrest in Syria increasing the likelihood of a near-term supply disruption. RBOB gasoline (+6.9%) and heating oil (+5.4%) moved up sharply in step with crude, in spite of ample supplies. Natural gas (+13.6%) rebounded further from lows as hot weather drove up cooling demand from utilities.

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For the third quarter of 2012, the most profitable market group overall was the money market sector while the greatest losses were attributable to positions in the currencies sector.

Three Months Ended June 30, 2012

Series A:

Net results for the quarter ended June 30, 2012, were a gain of 4.2% in net asset value compared to the preceding quarter end. In this period, Series A experienced a net increase in net assets from operations of $1,113,168. This increase consisted of total income of $2,335, trading gains of $1,709,479 and total expenses of $598,646. Expenses included $124,620 in management fees, $67,362 in ongoing offering expenses, $10,104 in operating expenses, $269,451 in selling commissions, $165,710 in brokerage commissions, $41,517 in reduced expenses attributable to the MF Global reserve and $2,916 in other expenses. At June 31, 2012, the net asset value per Unit of Series A was $1,263.62.

Series B:

Net results for the quarter ended June 30, 2012, were a gain of 5.4% in net asset value compared to the preceding quarter end. In this period, Series B experienced a net increase in net assets from operations of $1,505,998. This increase consisted of total income of $2,458, trading gains of $2,290,559 and total expenses of $787,019. Expenses included $132,549 in management fees, $71,648 in ongoing offering expenses, $10,748 in operating expenses, $286,593 in selling commissions, $250,100 in brokerage commissions, $33,100 attributable to the MF Global reserve and $2,281 in other expenses. At June 30, 2012, the net asset value per Unit of Series B was $1,334.65.

Fund results for 2nd Quarter 2012:

In June, the Fund’s trading strategies yielded disappointing results as market sensitivity to European debt crisis news led to choppy market conditions. Investor focus remained on troubled European economies, with eyes turned to faltering Spain. Moody’s downgrade of Spanish sovereign debt was followed by rating reductions for numerous Spanish lenders. Depressed European indices reacted positively to EU summit agreements to reduce funding costs for Spain and Italy. U.S. stocks rallied in anticipation of QE3 but were disappointed as the Fed offered only an extension of the Operation Twist program. Commodity demand remains weak as supplies build in base metals and energies. U.S. crude inventories are at their highest since 1990 as growth in consumption is met with greater gains in production. The Fund’s short-term trading strategies also underperformed. The Fund’s allocation to equities underperformed in June due to volatile and directionless trading as European economic conditions weighed on global markets. Uncertainty over Greek elections eased as pro-EU moderates prevailed while business confidence in Germany hit a two-year low. European equities rose at the end of the month, as EU summit leaders eased repayment terms for Spanish banks. In the U.S., the Dow rose 3.4% but gains were tempered by poor unemployment and weak consumer confidence. China reacted to slowing growth by cutting its key interest rate. The Australian SPI fell 0.4% despite surprise gains in GDP and employment, while the Japanese Nikkei climbed 5.6% on expectations for further stimulus. The Fund’s bond portfolio experienced losses in June as the recent rally stagnated due to a lack of substantial central bank stimulus. Investors hoping for new asset purchases from the Fed were disappointed as they chose only to expand their Operation Twist program by $267 billion. Europe’s bond rally also retreated as area-wide interest rates climbed in response to the increasingly insolvent Spanish banking sector. While bond rallies in the U.S. and Europe cooled, Japanese 10-year bond futures continued higher with yields reaching 0.79%, the lowest since 2003. The Fund’s allocation to currencies produced negative results in June as the U.S. dollar declined versus major currencies. The euro (+2.4% against the U.S. dollar) finished in positive territory while remaining under pressure due to the unresolved debt crisis. Spanish bank insolvency and unsustainable sovereign debt had sent the euro to 23-month low before regaining ground. The Swiss franc (+2.5%) gained against the dollar while holding steady against the euro. The British pound (+1.7%) rose versus the dollar after May’s sharp decline while also gaining favor versus the euro. The Fund’s grain allocations generated moderate losses in June as hot and dry conditions in the U.S. threatened to damage the largest projected corn crop since 1937. December corn surged 21.6% as the market digested rapidly deteriorating crop conditions. Soybeans (+12.4%) trailed corn higher, tempered by hopes that the later developing crop still has time to recover. The Fund’s positions in the metals sector generated moderately negative results in June as gains in short base metal positions were offset by losses in range-bound COMEX gold (-0.4%). Demand for base metals has suffered as Chinese growth has slowed and the broader world economy has failed to show significant signs of recovery. After spending nearly the entire month in negative territory, however, base metals took part in a global rally spurred by European leaders’ agreement on short-term measures to assist Spanish banks. The Fund’s allocation to the energy sector produced gains in June as weak demand and ample supplies pushed prices lower. Global economic weakness continues to be the key driver of prices near-term as slowing global growth has hurt overall energy demand. Crude oil touched an eight-month low of $77.28/bbl with supplies reaching 22-year highs. Gasoline (-3.5%) fell as U.S. supplies rose more than expected and demand remains soft. Heating oil (-0.4%) also suffered from a rise in inventories and warm temperatures.

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In May, the Fund’s trading strategies produced strong results as uncertainty and eroding optimism dominated market sentiment, sending investors on a broad-based flight to safety. Falling business confidence in Germany, rising euro-zone unemployment, and a shrinking manufacturing sector led to dramatic risk reduction across all sectors. The euro decreased to a nearly two-year low as investors sought the safety of the U.S. dollar, pressuring commodities. The S&P GSCI index of 24 commodities plunged 13%, its worst month since the recession of 2008. Demand for capital preservation drove yields of safe-haven debt instruments to all-time lows. The Fund’s short-term models enhanced monthly gains with profitable positions in CME Australian dollar, Comex gold and CBT U.S. T-Bonds. The Fund’s equity positions excelled in May as markets fell sharply on weakening economic conditions. European economies continued to soften with negative quarterly GDP and falling indices in the U.K. (-7.5%), Italy (-10.4%), Spain (-11.8%), and Greece (-30.6%). Even though Germany managed to show slight positive GDP growth of .5%, Dax futures fell 7.9%. The possibility of a Greek departure from the euro-zone increased as economic and political pressures mount. In the U.S., the Dow slipped 5.3% as factory orders fell 1.5% and leading indicators slipped 0.1%, leaving only modest growth expectations for the near-term. The U.S. added 115,000 jobs in April, the fewest since October, 2011. Shares across Asia were decidedly weak with the Hang Seng (-11.5%), Nikkei (-10.2%), and MSCI Taiwan (-3.5%) sinking on weakening export demand. The Fund’s bond exposure returned substantial profits in May as the risk-off trade prevailed in response to the unresolved debt crisis in Europe. Elevated fears that Greece may leave the euro-zone and an increasingly troubled Spanish banking sector combined to lift borrowing costs for at-risk sovereigns. Fear-driven investment poured into safe-haven assets in Germany, the U.S., and Australia. German 10-year bund futures (+3.5%) rose to all-time highs. In the U.S., strong demand for safety pushed the benchmark 10-year note to a record low of 1.5309% with 30-year yields approaching their 2008 bottom. The Fund’s allocations to currencies yielded strong results in May as the U.S. dollar advanced sharply in a general flight to safety. Heightened European instability and slowing global growth hurt equity markets while driving the Dollar Index to a 5.4% gain and a 21-month high. The euro slid 6.6% against the U.S. dollar as regional unemployment hit 10.9%, a 15-year high. U.K. retail sales dropped the most over two years, pushing the British pound 5.0% lower versus the U.S. dollar. The Australian dollar fell 6.2% as the Reserve Bank of Australia (“RBA”) unexpectedly cut its key lending rate 50 basis points to 3.75%. Only the Japanese yen (+1.8%) managed to rise against the U.S. dollar in relatively quiet trade. The Fund’s positions in the metals sector generated significant gains in May. Precious and industrial metals fell as a risk-off mentality began to permeate futures markets once again on renewed fears of a global economic recession. Euro-zone service and manufacturing sector data showed contraction for the ninth consecutive month, adding to concerns about the health of the global economy. Manufacturing data in China continued to reveal slowing growth, pushing down industrial metal. LME and COMEX copper fell for four consecutive weeks while LME aluminum slumped 5.9%. All base metals, with the exception of zinc, established new lows for 2012 in May, as did COMEX gold (-6.1%) and silver (-10.3%). The Fund’s allocation to the energy sector produced robust gains, benefitting from the sharp decline in the petroleum complex as ample supply and slack demand pressured prices. After several months of consolidation in crude, technical breaks below support levels led to a significant decline in both NYMEX and Brent futures, dropping 17.5% and 14.7% respectively. In natural gas, the well-established down-trend was finally broken as multi-year lows spurred buying interest. Mild spring weather and warm near-term forecasts helped support prices on increased cooling needs.

In April, the Fund’s trading strategies produced mixed results as markets digested signs of moderating growth and concerns over European sovereign debt. Minutes from a meeting of the Fed revealed the U.S. central bank will refrain from additional stimulus unless the economy wavers, sparking concern over growth and demand for raw materials. Upticks in weekly jobless claims and weak sales of previously-owned homes added to bearish sentiment. Chinese GDP grew 8.1%, the slowest pace in nearly three years as the country seeks to rebalance its economy away from exports and towards domestic consumption. Tenuous optimism in Europe gave way to increasing instability as austerity measures and ECB efforts to spur growth have yet to solve the regions debt woes, punctuated by S&P’s downgrade of Spanish debt. Investment flowed into safe-haven debt instruments of the U.S., Germany, and Australia in response to the weakness. The Fund’s bond exposure produced robust returns in April as investment poured into safe-haven assets on renewed euro-zone weakness and concerns over slowing growth. Spain’s soaring unemployment (24.4%), contracting GDP (-0.3%), and alarming spike in non-performing loans led to poor debt auctions as their 10-year yield climbed back above 6%. Resurging peripheral debt woes sent investors flocking to the security of German Bunds (+1.9%). British Long Gilts also benefited from safe-haven inflows but performance was muted due to negative GDP growth in the U.K. Despite mixed economic signals and signs of stagnation, the U.S. maintained its favored position relative to struggling European economies, driving demand for U.S. debt. Australian debt yields fell to record lows as easing inflation data is widely expected to prompt a rate cut from the Reserve Bank of Australia (the “RBA”) at its next meeting. The Fund’s allocation to foreign exchange markets underperformed in April as markets ended little changed in volatile trade. Concerns over sovereign debt and slowing economic growth left European currencies seeking solid direction. The euro (-0.7%) fell modestly as economic indicators softened and Spain’s debt was downgraded. The Swiss franc (-0.5%) fell against the U.S. dollar after reversing early month gains. The British pound (+1.5%) gained against the U.S. dollar and the euro (+2.2%) on expectations the Bank of England will not pursue further stimulus. The Australian dollar (+1.0%) continued its position as a favored currency with the RBA keeping rates unchanged as their economy sustains growth. The Canadian dollar (1.1%) also appreciated as unemployment there fell to 7.2%. The Japanese yen (+3.8%) regained ground from its recent

49

decline as the Bank of Japan remains focused on easing in an effort to strengthen growth prospects. The Mexican peso (-1.5%) fell back on worries global growth concerns will dampen exports. The Fund’s positions in the metals sector generated moderate losses in April due to sharp reversals in the LME and COMEX copper markets. Poor U.S. monthly payroll and industrial production figures, slowing Chinese growth and heightened euro-zone debt concerns drove copper 6.6% lower to 3-month lows before being turned markedly higher on falling inventories. LME copper stockpiles dropped to 241,550 tons, the lowest level since November of 2008 and down 30% since January as miners struggle to keep pace with consumption. COMEX copper posted five consecutive gains at month’s end, its longest rally since August, to close nearly unchanged. Short positions in COMEX silver (-4.7%) helped to offset losses while COMEX gold (-0.3%) had its smallest monthly change since March of 2010 as traders waited for clarity on global economic conditions. The Fund’s allocation to the energy sector yielded losses in April as encouraging U.S. manufacturing and consumer spending supported energy markets despite reduced geopolitical risk, slowing growth in China, and renewed recession fears in Europe. NYMEX crude posted its least volatile month in 17 years, trading in a 4.8% range, tightly bound by its 100 and 50-day moving averages. Weekly inventories (373 million barrels) reached an 11-month high as Chinese manufacturing contracted for the sixth straight month. Brent crude’s premium over West Texas Intermediate (“WTI”) shrunk to as little as $13.61, the smallest margin since January, as Spain and the UK slid back into recession and negotiations with Iran showed promise.

For the second quarter of 2012, the most profitable market group overall was the bonds sector while the greatest losses were attributable to positions in the grains sector.

Three Months Ended March 31, 2012

Series A:

Net results for the quarter ended March 31, 2012, were a loss of 7.1% in net asset value compared to the preceding quarter end. In this period, Series A experienced a net decrease in net assets from operations of $2,050,090. This decrease consisted of income of $1,285, trading losses of $1,419,491 and total expenses of $631,884. Expenses included $136,587 in management fees, $73,831 in ongoing offering expenses, $11,075 in operating expenses, $295,322 in selling commissions, $112,337 in brokerage commissions and $2,732 in other expenses. At March 31, 2012 and December 31, 2011, the net asset value per Unit of Series A was $1,214.02 and 1,306.48, respectively.

Series B:

Net results for the quarter ended March 31, 2012, were a loss of 8.9% in net asset value compared to the preceding quarter end. In this period, Series B experienced a net decrease in net assets from operations of $2,741,473. This decrease consisted of income of $1,582, trading losses of $2,027,284 and total expenses of $715,771. Expenses included $144,390 in management fees, $78,048 in ongoing offering expenses, $11,707 in operating expenses, $312,192 in selling commissions, $166,835 in brokerage commissions and $2,599 in other expenses. At March 31, 2012 and December 31, 2011, the net asset value per Unit of Series B was $1,267.97 and 1,391.44 respectively.

Fund results for 1^st Quarter 2012:

In March, the Fund’s trading strategies produced disappointing returns as rapidly shifting macroeconomic factors led to trendless and choppy market conditions. The U.S. economy sustained momentum, adding another 227,000 jobs for its best six-month streak since May of 2006. Retail sales climbed 1.1%, the most in five months, reflecting consumer confidence despite rising gas prices. In contrast, commodity-driven economies such as Australia felt the effects of reduced base-metal demand, while euro-zone GDP unexpectedly contracted as the region struggles to contain its debt crisis. Crude oil declined as the impact of Iranian tensions receded when compared to slowing global demand and ample supplies. The Fund’s short-term strategies produced mixed to slightly negative results. The Fund’s allocation to currency markets yielded poor results in March. The U.S. dollar (+0.5%) advanced early as improvements in the U.S. economy and positive investor sentiment drove up equities and sent interest rates modestly higher. Later in the month Fed Chairman Bernanke reiterated his commitment to low interest rates, pressuring the U.S. dollar and erasing previous gains. The ECB continued to hold the line on interest rates, keeping its discount rate at 1%. The euro and British pound finished unchanged versus the U.S. dollar after declines of 2%. The Australian dollar (-4.4%) fell on weak GDP, an unexpected rise in unemployment, as well as softening commodity exports. The Fund’s bond exposure experienced losses during a turbulent March as U.S. and European bonds sold off precipitously only to rebound later in the month. JGB came under pressure as the BOJ resisted calls to increase asset purchases beyond the 30 trillion yen committed at their February meeting. JGB yields rose to 1.056%, the highest since December 2011. The Fund experienced negative results in the global equity markets in March. European stocks fell sharply on euro-zone GDP contraction (-0.3%) before optimistic U.S. data helped lift futures to 8-month highs. Markets quickly reversed on China’s shrinking economy and the possible need for further Greek debt restructuring. The FTSE (-2.1%), Amsterdam EOE Index (-1.2%), and Euro Stoxx (-4.5%) all finished lower. The Dow (+1.2%) and the S&P 500 (+2.5%) rose to four-year highs. Asian shares were mostly lower,

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pressured by the slowdown in China. China’s H-Shares (-10.9%) sank on weaker-than-expected housing and auto data with stocks in Singapore (-1.1%), Taiwan (-2.5%), and India (-2.3%) also lower. The Nikkei (+1.5%) managed to gain as the BOJ continued to ease in an effort to boost growth and weaken the yen. The Fund’s grains positions experienced moderate losses for the month. Directionless trading led to losses in corn and wheat while trending soybeans benefited long soybean meal positions. The Fund’s exposure to the metals sectors generated moderate losses as precious metals declined on increasingly positive sentiment surrounding the stability of the global economy. The Fund’s allocation to money market futures also produced negative results. Short-rate price movement closely mirrored the volatility seen in longer-term maturities as central banks continued to hold overnight lending rates between 0 and 25 basis points. Although targeted rates are expected to remain near zero for an extended period, the strength of the equity rally precipitated a decline in global short-rate prices, negatively impacting the Fund’s long positions.

In February, the Fund’s trading strategies generated solid returns as geopolitical and economic forces pushed energies and equities decidedly higher. Intensifying tensions with Iran over their nuclear program injected risk premium into oil markets, driving crude prices to multi-month highs. Meanwhile, a wave of hopeful economic data and the long-awaited second Greek bailout lifted stocks. U.S. unemployment fell for a fifth straight month, adding 234,000 jobs while U.S. consumer confidence posted its longest streak of gains since 1997. The Nasdaq Stock Market (the “Nasdaq”) hit 11-year highs and the Dow closed above 13,000 for the first time since 2008. The BOJ revealed plans to inject 10 trillion yen into the Japanese economy in an effort to suppress deflation while the ECB sought to stabilize euro-zone banks and stimulate the economy by issuing €529.5 billion of low interest loans. Chicago Board of Trade (“CBOT”) corn slid sideways awaiting spring plantings, while soybeans soared on expected crop damage in Brazil. Short-term strategies enhanced overall performance with gains in currencies, stocks, metals, and energies. The Fund’s allocation to the energy sector produced significant returns in February as economic optimism, escalating Iranian tensions, and reduced refinery capacity led to robust returns for long energy positions. Extreme cold in Europe in the midst of heavy refinery maintenance drove IPE gas oil (+6.3%) to a nine-month high. New York heating oil (+6.0%), also used in home heating, was pulled higher on anticipated demand shift to the U.S. Brent crude gained 10.9%, its best month since May of 2009, while NY crude (+8.6%) reached a nine-month high. Despite poor U.S. gasoline demand, RBOB futures extended an impressive rally, gaining 5.4%, aided by permanent, unplanned, and seasonal refinery closures. Promising U.S. employment data and the Greek bailout approval lifted energies universally on hopes of economic growth. The Fund experienced positive results in global equity markets as stocks rose on continued economic improvement. While Europe worked its way towards the second bailout of Greece, equity markets across the continent were higher as fears of an imminent euro-zone collapse subsided. The ECB eased monetary policy significantly in an effort to support markets, stepping away from its traditional mandate of inflation stability. Markets responded with the CAC40 (+4.5%), FTSE (+3.7%) and DAX (+6.0%) all finishing the month higher. Only the Greek index finished lower with a 9.1% loss. Investor optimism drove up markets across Asia with the Nikkei (+10.2%) climbing sharply as the yen fell. Improvements in the outlook for exports also boosted shares in Hong Kong (+6.6%), Korea (+3.5%) and Taiwan (+7.6%). The U.S. markets rose as unemployment fell to 8.3%, jobless claims hit a four-year low, and modest growth was seen in manufacturing and housing. The S&P 500 (+4.3%) is off to its best start in 21 years. The Fund’s allocation to currencies generated moderate losses due to the sharp reversal in the Japanese yen. The U.S. dollar was weaker against most global currencies as the Fed reiterated its highly accommodative stance in spite of improving economic conditions. The BOJ, which has struggled with deflation for more than a decade, announced it would target a 1% annual inflation rate, adding 10 trillion yen to the economy in the process. Traders took the news seriously and sent the yen (-6.2%) to a seven-month low. The euro (+1.9%) strengthened against the U.S. dollar as fears over a Greek debt disaster abated and expectations rose for increased lending activity. The Swiss franc (+1.8%) and British pound (+1.1%) also gained while better-than-expected economic data in Australia drove the AUD/USD rate to a six-month high (1.0795 $/AUD). South American currencies continued to climb with the Mexican peso (+1.4%), Colombian peso (+2.4%), and the Brazilian real (+1.7%) all gaining. The Fund’s bond portfolio produced negative results in February. U.S. bond prices retreated slightly from January highs as positive economic data continued to foster the strongest equity rally in two decades. U.S. unemployment dropped to 8.3%, returning to a level not seen since February 2009. U.S. 10-year notes retreated on the news and ended the month down 0.8%. The ECB implemented phase two of their long term refinancing operation liquidity program on February 27^th, injecting €530 billion of short-term liquidity into the region. The 1% loan offering was taken up by 800 euro-zone banks. The monetary infusion is expected to make its way into longer-term maturities as seen by the resulting rally in Bunds and 10-year Swap Notes. The Fund’s strategies underperformed in the metals sector after bullish trends in precious metals radically corrected as Fed Chairman Bernanke quelled hopes for a third round of quantitative easing. Immediately prior to the plunge, gold and silver each hit multi-month highs as investors placed hedges against rising consumer prices and a weakening U.S. dollar. Following Mr. Bernanke’s testimony, gold (-1.7%) and silver (-6.9%) decreased significantly. Fears of reduced euro-zone base metal demand abated as leaders came to agreement on a second aid package for Greece. LME aluminum (+4.0%), assisted by record canceled warrants (orders to withdraw stockpiles), reversed early losses in the broad-based rally. Rising confidence levels on both sides of the Atlantic and falling inventories worked in tandem to elevate Comex (+2.1%) and LME copper (+2.2%).

In January, the Fund’s strategies produced mixed results as optimism toward a European debt resolution and positive economic growth indicators led investors to add risk. The U.S. dollar declined against major currencies as the “safety trade” unwound, accelerated by the Fed’s stated willingness to purchase additional bonds. Gold benefited from the dollar’s decline, posting a

51

+10% gain, climbing solidly back above its 200-day moving average while base-metals surged on production cutbacks and anticipated Chinese demand. EU negotiations with Greece, initially promising, weighed on equity markets towards month-end as leaders debated terms of a second rescue package worth 500 billion euro. NYMEX gasoline trended higher throughout the month as supply concerns intensified due to multiple refinery closures while natural gas plummeted to a 10-year low on unseasonably warm winter temperatures and overabundant supply. The Fund’s short-term strategies contributed positively to performance with gains in bonds, stocks, and metals, while the Fund’s perpetual long gold position produced significant gains for the month. The Fund’s allocation to money market futures yielded robust returns as central banks universally maintained accommodative monetary policies. In the U.S., minutes from the FOMC of the Fed revealed the Fed’s commitment to maintain interest rates at or near zero through 2014. The ECB, having cut rates twice in the last three months, maintained rates at a record low of 1%, citing signs of stabilization. In the United Kingdom, the Bank of England also maintained a record low benchmark of 0.5%. The Fund’s allocation to currency markets yielded negative returns as the U.S. dollar reversed its recent uptrend as global economic concerns began to subside. What had been a flight to safety in the U.S. dollar in late 2011 reversed as investors chose risk exposure and yield over conservation. The euro reached a 17-month low before recovering on perceived EU debt negotiation progress. The Australian dollar sustained its climb on relative economic outperformance, attractive interest rates, and strength in commodity prices. South American currencies, which lost significant ground in 2011, advanced considerably against the U.S. dollar. The Japanese yen rallied sharply late, closing at a three-month high, as investors flocked to the currency given the short-term U.S. interest rate outlook. The Fund’s grain positions experienced moderate losses for the month. Lingering concerns over South American corn and soybean yields drove grains to multi-week highs before surprisingly bearish USDA figures abruptly reversed trends. The highly anticipated January USDA report caused significant declines mid-month on unexpected increases in corn production and inventories, resulting in losses for the Fund’s corn positions. Wheat traded in tandem with corn, pressured by weak exports, ample supply, and favorable winter crop conditions. The Fund’s exposure to the energy sector generated positive returns, led by long gasoline and short natural gas positions. Gasoline ended up (+7.3%) for the month, while an unusually warm winter and continued supply glut pushed natural gas to $2.231/btu, a 10-year low. The Fund experienced losses in NYMEX crude oil amid a directionless trade as prices were range-bound between $98 and $103 per barrel.

For the first quarter of 2012, the most profitable market group overall was the energy sector while the greatest losses were attributable to positions in the currency sector.

OFF-BALANCE SHEET RISK

The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss. The Fund trades in futures and forward contracts and is therefore a party to financial instruments with elements of off-balance sheet market and credit risk. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by conditions, such as interest rate volatility, resulting in such contracts being less valuable. If the markets should move against all of the futures interests positions of the Fund at the same time, and if Superfund Capital Management was unable to offset such positions, the Fund could experience substantial losses. Superfund Capital Management attempts to minimize market risk through real-time monitoring of open positions, diversification of the portfolio and maintenance of a margin-to-equity ratio in all but extreme instances not greater than 50%.

In addition to market risk, in entering into futures and forward contracts, there is a credit risk that a counterparty will not be able to meet its obligations to the Fund. The counterparty for futures contracts traded in the U.S. and on most foreign exchanges is the clearinghouse associated with such exchange. In general, clearinghouses are backed by the corporate members of the clearinghouse who are required to share any financial burden resulting from the non-performance by one of their members and, as such, should significantly reduce this credit risk. In cases where the clearinghouse is not backed by the clearing members, like some foreign exchanges, it is normally backed by a consortium of banks or other financial institutions.

OFF-BALANCE SHEET ARRANGEMENTS

The Fund does not engage in off-balance sheet arrangements.

CONTRACTUAL OBLIGATIONS

The Fund does not enter into contractual obligations or commercial commitments to make future payments of a type that would be typical for an operating company. The Fund’s sole business is trading futures, currency, forward and certain swap contracts, both long (contracts to buy) and short (contracts to sell). All such contracts are settled by offset, not delivery. Substantially all such contracts are for settlement within four months of the trade date and substantially all such contracts are held by the Fund for less than four months before being offset or rolled over into new contracts with similar maturities. The financial statements of Series A and Series B each present a Condensed Schedule of Investments setting forth net unrealized appreciation (depreciation) of such Series’ open forward contracts as well as the fair value of the futures contracts purchased and sold by each Series at September 30, 2013 and December 31, 2012.

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CRITICAL ACCOUNTING POLICIES – VALUATION OF THE FUND’S POSITIONS

Superfund Capital Management believes that the accounting policies that will be most critical to the Fund’s financial condition and results of operations relate to the valuation of the Fund’s positions. The Fund uses the amortized cost method for valuing U.S. Treasury Bills. Superfund Capital Management believes the cost of securities plus accreted discount, or minus amortized premium, approximates fair value. The majority of the Fund’s positions will be exchange-traded futures contracts, which will be valued daily at settlement prices published by the exchanges. Any spot and forward foreign currency or swap contracts held by the Fund will also be valued at published daily settlement prices or at dealers’ quotes. Thus, Superfund Capital Management expects that under normal circumstances substantially all of the Fund’s assets will be valued on a daily basis using objective measures.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

ASU 2011-11

In December 2011, FASB issued ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities (“ASU 2011-11”). ASU 2011-11 requires disclosures to make financial statements that are prepared under U.S. GAAP more comparable to those prepared under International Financial Reporting Standards (“IFRS”). The new disclosure requirements mandate that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of assets and liabilities as well as instruments and transactions subject to an agreement similar to a master netting arrangement. In addition, ASU 2011-11 requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements.

In January 2013, the FASB issued guidance to clarify the scope of disclosures about offsetting assets and liabilities. The amendments clarify that the scope of guidance issued in December 2011 to enhance disclosures around financial instrument and derivative instruments that are either (a) offset, or (b) subject to a master netting agreement or similar agreement, irrespective of whether they are offset, applies to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. The amendments are effective for interim and annual periods beginning on or after January 1, 2013. Adoption did not have a material impact on the Funds’ financial statements.

ASU 2011-04

In May 2011, FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. ASU 2011-04 includes common requirements for measurement of and disclosure about fair value between U.S. GAAP and IFRS. ASU 2011-04 will require reporting entities to disclose the following information for fair value measurements categorized within Level 3 of the fair value hierarchy: quantitative information about the unobservable inputs used in the fair value measurement, the valuation processes used by the reporting entity and a narrative description of the sensitivity of the fair value measurement to changes in unobservable inputs and the interrelationships between those unobservable inputs. In addition, ASU 2011-04 will require reporting entities to make disclosures about amounts and reasons for all transfers in and out of Level 1 and Level 2 fair value measurements. The new and revised disclosures are effective for interim and annual reporting periods beginning after December 15, 2011. The Fund adopted ASU 2011-04 as of January 1, 2012. The adoption of the provisions of ASU 2011-04 has not had a material impact on the Fund’s financial statement disclosures.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required.

ITEM 4. CONTROLS AND PROCEDURES

Superfund Capital Management, the Fund’s general partner, with the participation of Superfund Capital Management’s principal executive officer and principal financial officer, has evaluated the effectiveness of the design and operation of its disclosure controls and procedures with respect to each Series individually, as well as the Fund as a whole, as of the end of the period covered by this quarterly report, and, based on their evaluation, have concluded that these disclosure controls and procedures are effective. There were no formal changes in Superfund Capital Management’s internal controls over financial reporting during the quarter ended September 30, 2013 that have materially affected, or are reasonably likely to materially affect, Superfund Capital Management’s internal control over financial reporting with respect to each Series individually, as well as the Fund as a whole.

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The Rule 13a-14(a)/15d-14(a) certifications of the principal executive officer and the principal financial officer included as Exhibits 31.1 and 31.2, respectively, are certifying as to each Series individually, as well as the Fund as a whole.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Superfund Capital Management is not aware of any pending legal proceedings to which either the Fund is a party or to which any of its assets are subject. The Fund has no subsidiaries.

ITEM 1A. RISK FACTORS

Not required.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a) There were no sales of unregistered securities during the quarter ended September 30, 2013.

(c) Pursuant to the Fund’s Sixth Amended and Restated Limited Partnership Agreement, investors may redeem their Units at the end of each calendar month at the then current month-end Net Asset Value per Unit. The redemption of Units has no impact on the value of Units that remain outstanding, and Units are not reissued once redeemed.

The following tables summarize the redemptions by investors during the three months ended September 30, 2013:

Series A:

Month	Units Redeemed		NAV per Unit ($)
July 31, 2013		452.329		1,228.04
August 31, 2013		268.153		1,195.97
September 30, 2013		156.643		1,163.76
		877.125

Series B:

Month	Units Redeemed		NAV per Unit ($)
July 31, 2013		225.675		1,289.28
August 31, 2013		151.376		1,251.37
September 30, 2013		446.181		1,207.15
		823.232

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURE

Not applicable.

ITEM 5. OTHER INFORMATION

None.

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ITEM 6. EXHIBITS

The following exhibits are included herewith:

31.1	Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer
31.2	Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer
32.1	Section 1350 Certification of Principal Executive Officer
32.2	Section 1350 Certification of Principal Financial Officer
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Labe Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

55

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: November 12, 2013	SUPERFUND GREEN, L.P.             (Registrant)
	By: Superfund Capital Management, Inc. General Partner
	By:	/s/ Nigel James
	Nigel James
	President and Principal Executive Officer
	By:	/s/ Martin Schneider
	Martin Schneider
	Vice President and Principal Financial Officer

56

EXHIBIT INDEX

Exhibit Number	Description of Document	Page Number
31.1	Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer		E-2
31.2	Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer		E-3
32.1	Section 1350 Certification of Principal Executive Officer		E-4
32.2	Section 1350 Certification of Principal Financial Officer		E-5

E-1