Grant Park Futures Fund Limited Partnership
Filed: 18 Mar 10, 12:00am
Filed pursuant to Rule 424(b)(3)
File No. 333-153862
Grant Park Fund February 2010 Update
March 18, 2010
Supplement dated March 18, 2010 to Prospectus dated March 25, 2009
| Class | February ROR | YTD ROR | Net Asset Value | Net Asset Value per Unit |
| A | 0.6% | -7.4% | $65.1M | $1,320.19 |
| B | 0.6% | -7.5% | $633.1M | $1,132.91 |
| Legacy 1 | 0.8% | -7.0% | $4.9M | $898.39 |
| Legacy 2 | 0.8% | -7.0% | $4.4M | $896.55 |
| Global 1 | 0.7% | -7.1% | $5.2M | $888.52 |
| Global 2 | 0.7% | -7.2% | $11.1M | $885.17 |
| Global 3 | 0.5% | -7.5% | $54.5M | $869.65 |
| ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES |
Fund Announcements
K-1’s were mailed to investors with taxable accounts. If you have a taxable account and have not yet received your 2009 Schedule K-1, please contact our Client Services group at 1-800-217-7955 or cs@dearborncapital.com.
Sector Commentary
Agriculturals/Softs: Grains markets rallied as strong sales data and downward revisions to inventory estimates bolstered prices. Moving contrary to its recent uptrend, sugar prices declined following liquidations from large commodity funds. In the livestock markets, prices rose as gains in the equity markets supported bullish demand forecasts.
Currencies: Ongoing concerns over several smaller EU nations led to a decline in major currencies across Europe. The Swiss franc, euro, and Great British pound all declined against the U.S. dollar as investors sought safer assets. Strong Australian unemployment data led to gains in the Australian dollar over most major currencies.
Energies: Bullish demand forecasts from the Energy Information Administration and positive U.S. industrial production data led to gains in the crude oil markets. Elevated U.S. natural gas inventories put substantial pressure on the natural gas markets, moving prices nearly 7% lower for the month.
Equities: Optimistic economic data in the U.S. propelled North American equity markets higher in February. Ailing economies in several European nations drove European equity markets down. Ongoing fears in Asia regarding changes to Chinese lending polices resulted in declines in Hong Kong’s Hang Seng Index.
Fixed Income: Weak demand for European sovereign debt resulted in strong gains in the U.S. Treasury markets. An unexpected jump in U.S. jobless claims added to the rally in the U.S. debt markets. In Europe, short-term gains in the European equity markets put pressure on the Bund market.
Metals: Concern over the economic state of the European Union and short-term U.S. dollar weakness propelled the gold markets higher in February. In the base metals markets, bullish demand forecasts spurred by strong economic data led to gains in a number of industrial metals, including copper, aluminum, and tin.
Sincerely,
David Kavanagh
President
Enclosures
Daily fund performance is available on our website at www.grantparkfunds.com along with weekly commentary.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS
THIS DOES NOT CONSTITUTE AN OFFER OF ANY SECURITY FOR SALE NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH AN OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION OFFERING BY PROSPECTUS ONLY.
Account Statement (Prepared from books without audit) For the month ended February 28, 2010 | ||||||||
| STATEMENT OF INCOME | ||||||||
| Trading Income (Loss) | Month to Date Total | Year to Date Total | ||||||
| Realized Trading Income (Loss) | $ | -15,788,506 | $ | -51,890,510 | ||||
| Change In Unrealized Income (Loss) | 25,503,841 | -1,033,844 | ||||||
| Brokerage Commission | -453,500 | -939,416 | ||||||
| Exchange, Clearing Fee and NFA Charges | -35,561 | -69,489 | ||||||
| Other Trading Costs | -518,414 | -998,581 | ||||||
| Change in Accrued Commission | 12,877 | 32,788 | ||||||
| Net Trading Income (Loss) | 8,720,737 | -54,899,052 | ||||||
| Other Income | Month to Date Total | Year to Date Total | ||||||
| Interest, U.S. Obligations | $ | 163,928 | $ | 410,210 | ||||
| Interest, Other | 160,857 | 345,738 | ||||||
| U.S. Government Securities Gain (Loss) | 0 | 0 | ||||||
| Total Income (Loss) | 9,045,522 | -54,143,104 | ||||||
| Expenses | Month to Date Total | Year to Date Total | ||||||
| Management Fee | $ | 0 | $ | 0 | ||||
| Incentive Fee | 1,919 | 1,919 | ||||||
| Operating Expenses | 165,766 | 329,116 | ||||||
| Organization and Offering Expenses | 187,664 | 372,386 | ||||||
| Brokerage Expenses | 4,115,044 | 8,186,862 | ||||||
| Total Expenses | 4,470,393 | 8,890,283 | ||||||
| Net Income (Loss) | $ | 4,575,129 | $ | -63,033,387 | ||||
| Statement of Changes in Net Asset Value | Month to Date Total | Year to Date Total | ||||||
| Beginning Balance | $ | 774,743,742 | $ | 831,270,498 | ||||
| Additions | 11,370,445 | 26,888,124 | ||||||
| Net Income (Loss) | 4,575,129 | -63,033,387 | ||||||
| Redemptions | -12,366,055 | -16,801,974 | ||||||
| Balance at FEBRUARY 28, 2010 | $ | 778,323,261 | $ | 778,323,261 | ||||
| PERFORMANCE SUMMARY BY CLASS | ||||||||
| Class | Net Asset Value per Unit | Units | Net Asset Value | ROR – Month to Date ROR – Year to Date | ||||
| A | $1,320.186 | 49,286.64872 | $65,067,530 | 0.63% | -7.37% | |||
| B | $1,132.907 | 558,798.20518 | $633,066,273 | 0.57% | -7.47% | |||
| Legacy 1 | $898.393 | 5,502.05878 | $4,943,011 | 0.82% | -7.01% | |||
| Legacy 2 | $896.546 | 4,883.24022 | $4,378,050 | 0.80% | -7.05% | |||
| Global 1 | $888.519 | 5,897.19082 | $5,239,765 | 0.71% | -7.14% | |||
| Global 2 | $885.168 | 12,528.32209 | $11,089,668 | 0.69% | -7.18% | |||
| Global 3 | $869.651 | 62,713.62464 | $54,538,965 | 0.54% | -7.45% | |||
To the best of my knowledge and belief the information contained herein is accurate and complete.
__________________________________________________________
David Kavanagh, President
For Dearborn Capital Management, LLC
General Partner of Grant Park Futures Fund, Limited Partnership