10-Q 1 go10q901.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended: September 30, 2001 or [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 33-50388 THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. (Exact name of registrant as specified in its charter) Delaware 06-1346-879 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) c/o MILLBURN RIDGEFIELD CORPORATION 411 West Putnam Avenue Greenwich, Connecticut 06830 (Address of principal executive offices) Registrant's telephone number, including area code: (203) 625-7554 Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant Limited Partnership Units to Section 12(g) of the Act: (Title of Class) Indicate by check mark whether the registrant (1) 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 [ ] Aggregate market value of the voting and non-voting common equity held by non-affiliates: $6,403,043.00. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. INDEX Part I - Financial Information Financial Statements: Pages Statements of Financial Condition at September 30, 2001 and December 31, 2000 (unaudited) 1 Statements of Operations for the Periods Ended September 30, 2001 and 2000 (unaudited) 2 Condensed Schedule of Investments at September 30, 2001 (unaudited) 4 Statements of Changes in Partners' Capital for the Periods Ended September 30, 2001 (unaudited) 5 Changes in Net Asset Value per Unit for the periods ended September 30, 2001 and 2000 (unaudited) 6 Notes to Financial Statements (unaudited) 8 Part II - Other Information 10 PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Statements of Financial Condition (UNAUDITED)

See accompanying notes to financial statements. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Statements of Operations For the three months ended September 30, 2001 and 2000 (UNAUDITED)

See accompanying notes to financial statements. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Statements of Operations For the nine months ended September 30, 2001 and 2000 (UNAUDITED)

See accompanying notes to financial statements. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Condensed Schedule of Investments at September 30, 2001 (UNAUDITED)

THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. Statement of Partners' Capital For the three months ended September 30, 2001 (UNAUDITED)

Statement of Partners' Capital For the nine months ended September 30, 2001 (UNAUDITED)

Net Asset Value per Unit Changes in net asset value per Unit during the three months ended September 30, 2001 and 2000 (unaudited) were as follows:

Financial highlights for the quarter ended September 30, 2001 (UNAUDITED): Total return: 4.21% Ratio of expenses to average net assets: 8.81% (annualized) Ratio of net income to average net assets: 17.31% (annualized) See accompanying notes to financial statements. Net Asset Value per Unit Changes in net asset value per Unit during the nine months ended September 30, 2001 and 2000 (unaudited) were as follows:

Financial highlights for the nine months ended September 30, 2001 (UNAUDITED): Total return: 6.93% Ratio of expenses to average net assets: 8.64% (annualized) Ratio of net income to average net assets: 9.71% (annualized) See accompanying notes to financial statements. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. The accompanying financial statements are unaudited but, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Partnership's financial condition at September 30, 2001 (unaudited) and December 31, 2000 and the results of its operations for the three month and nine month periods ended September 30, 2001 and 2000. These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. It is suggested that these financial statements be read in conjunction with the financial statements and notes included in the Partnership's annual report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2000. ITEM II. OTHER INFORMATION Management discussion and analysis of the financial statements for the three months ended September 30, 2001.

Due to the nature of commodity trading, the results of operations for the interim period presented should not be considered indicative of the results that may be expected for the entire year. The partnership's net assets increased 3.41% in the third quarter of 2001. This increase was attributable to a net gain of $293,811, which was partially offset by redemptions of $63,586. Brokerage commissions are calculated on the net asset value on the last day of each month and are affected by trading performance and redemptions. Brokerage commissions for the three months ended September 30, 2001 decreased by $9,355, relative to the corresponding period in 2000. The fund NAV gained during the third quarter. Trading of interest rate, stock index, and metals futures was profitable, while currency trading was unprofitable. As economic activity continued to decelerate in the third quarter, Central Banks worldwide eased their monetary policies. Furthermore, in the wake of the September 11th terrorist attacks in the US, there was a pronounced flight to "safer" investments that included government fixed income securities, particularly those with shorter maturity. Consequently, long futures positions in US bonds, notes and eurodollars were very profitable. A long position in the 5-year German note future also produced a gain. On the other hand, trading of Japanese and British interest rate futures generated losses on both long and short positions. Global equity markets were weak prior to September 11th, and dropped substantially further afterward. Hence, short positions in the German DAX, Hong Kong Hang Seng, Japanese Topix and NASDAQ 100 indices were highly profitable this quarter. Weakening industrial activity during the 3Q led to a significant gain from a short aluminum position, while the flight to safety produced a sizable gain on a long gold position in September. On the other hand, currency trading was not profitable during the July-September period. Exchange rates were volatile in broad ranges as market participants were buffeted to and fro by the deteriorating economic environment, the differing economic policy responses of different countries, and the aftershock of the September 11th attacks. Hence, there were losses on both long and short dollar positions against the euro, yen, Korean won and Thai baht. A long Swiss franc/short US dollar position did register a gain. Non-dollar cross currency trading was also unprofitable. Both long and short euro positions versus the pound sterling and Norwegian krone, as well as both long and short pound sterling positions versus the yen were unprofitable. PART II. OTHER INFORMATION ITEM I. Legal Proceedings - None ITEM 2. Changes in Securities and Use of Proceeds - None ITEM 3. Defaults Upon Senior Securities - None ITEM 4. Submission of Matters to a Vote of Security Holders - None ITEM 5. Other Information - None ITEM 6. (a) Exhibits - None (b) Reports on Form 8-K - None SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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, in the City of New York and State of New York on the 30th day of October, 2001. THE MILLBURN GLOBAL OPPORTUNITY FUND L.P. By: Millburn Ridgefield Corporation, General Partner By /s/ Tod A. Tanis October 30, 2001 Tod A. Tanis Vice-President

MILLBURN GLOBAL OPPORTUNITY FUND L P 10-Q