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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2025

☐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: 0-50316

GRANT PARK FUTURES FUND
LIMITED PARTNERSHIP

(Exact name of registrant as specified in its charter)


Illinois		36-3596839
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification Number)

c/o Dearborn Capital Management, L.L.C.
566 West Adams Street, Suite 300
Chicago, Illinois 60661
(Address of Principal Executive Offices, including Zip Code)

Registrant’s telephone number, including area code: (312) 756-4450

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Not applicable.	Not applicable.	Not applicable.

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 ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

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


Large accelerated filer ☐		Accelerated filer ☐

Non accelerated filer ☒		Smaller reporting company ☒ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b -2 of the Securities Exchange Act of 1934). Yes ☐ No ☒

Table of Contents

GRANT PARK FUTURES FUND LIMITED PARTNERSHIP

QUARTER ENDED June 30, 2025

INDEX

PART I – FINANCIAL INFORMATION

ITEM 1.	Financial Statements

	Consolidated Statements of Financial Condition as of June 30, 2025 (unaudited) and December 31, 2024	2

	Consolidated Condensed Schedule of Investments as of June 30, 2025 (unaudited)	3

	Consolidated Condensed Schedule of Investments as of December 31, 2024	5

	Consolidated Statements of Operations for the six months ended June 30, 2025 and 2024 (unaudited)	7

	Consolidated Statements of Changes in Partners’ Capital (Net Asset Value) for the six months ended June 30, 2025 and 2024 (unaudited)	9

	Notes to Consolidated Financial Statements (unaudited)	13

ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	29

ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	35

ITEM 4.	Controls and Procedures	39

PART II – OTHER INFORMATION

ITEM 1A.	Risk Factors	40

ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	40

ITEM 6.	Exhibits	41

SIGNATURES		42
CERTIFICATIONS

Table of Contents

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Financial Condition


	June 30,		December 31,
	2025		2024
		(Unaudited)
Assets
Equity in brokers' trading accounts:
Cash	$	3,739,519	$	3,649,470
Net unrealized gain on open futures contracts (see Note 10)		344,997		875,848
Net unrealized loss on open futures contracts (see Note 10)		(43,841)		(33,235)
Total equity in brokers' trading accounts		4,040,675		4,492,083
Cash and cash equivalents		14,254,662		18,518,343
Securities owned, at fair value (cost $1,293,191 and $1,600,000, respectively)		1,293,160		1,601,943
Interest receivable, net		—		3,976
Total assets	$	19,588,497	$	24,616,345
Liabilities and Partners' Capital (Net Asset Value)
Liabilities
Brokerage charge payable	$	94,437	$	121,399
Organization and offering costs payable		4,385		5,612
Accrued operating expenses		4,078		5,127
Redemptions payable to limited partners		309,064		427,333
Other payables		7,500		—
Total liabilities		419,464		559,471
Partners' Capital (Net Asset Value)
General Partner
Class A (231.29 units outstanding at both June 30, 2025 and December 31, 2024)		191,878		204,059
Legacy 2 Class (250.67 units outstanding at both June 30, 2025 and December 31, 2024)		187,921		197,804

Limited Partners
Class A (3,423.64 units outstanding at both June 30, 2025 and December 31, 2024)		2,840,180		3,020,494
Class B (13,805.82 and 17,095.89 units outstanding at June 30, 2025 and December 31, 2024, respectively)		8,950,282		11,825,466
Legacy 1 Class (374.12 and 427.56 units outstanding at June 30, 2025 and December 31, 2024, respectively)		292,549		351,477
Legacy 2 Class (140.55 units outstanding at both June 30, 2025 and December 31, 2024)		105,363		110,903
Global 1 Class (7,868.46 and 9,542.72 units outstanding at June 30, 2025 and December 31, 2024, respectively)		6,364,104		8,091,605
Global 2 Class (303.97 and 311.98 units outstanding at June 30, 2025 and December 31, 2024, respectively)		236,756		255,066
Total partners' capital (net asset value)		19,169,033		24,056,874
Total liabilities and partners' capital (net asset value)	$	19,588,497	$	24,616,345

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Condensed Schedule of Investments

June 30, 2025

(Unaudited)

Futures Contracts


	Unrealized gain/(loss) on open long contracts		Percent of Partners’ Capital (Net Asset Value)		Unrealized gain/(loss) on open short contracts		Percent of Partners’ Capital (Net Asset Value)		Net unrealized gain/(loss) on open contracts		Percent of Partners’ Capital (Net Asset Value)
Futures Contracts *
U.S. Futures Positions:
Agriculturals	$	3,256	0.02	%	$	138,547	0.72	%	$	141,803	0.74	%
Currencies		142,124	0.74	%		(30,091)	(0.16)	%		112,033	0.58	%
Energy		(143,137)	(0.75)	%		63,490	0.33	%		(79,647)	(0.42)	%
Interest rates		31,756	0.17	%		(125,941)	(0.66)	%		(94,185)	(0.49)	%
Meats		47,110	0.25	%		—	—	%		47,110	0.25	%
Metals		41,885	0.22	%		—	—	%		41,885	0.22	%
Soft commodities		4,445	0.02	%		107,517	0.56	%		111,962	0.58	%
Stock indices		51,693	0.27	%		(13,283)	(0.07)	%		38,410	0.20	%
Total U.S. Futures Positions		179,132				140,239				319,371

Foreign Futures Positions:
Agriculturals		1,270	0.01	%		8,649	0.04	%		9,919	0.05	%
Currencies		(1,570)	(0.01)	%		1,382	0.01	%		(188)	—	%
Energy		(34,500)	(0.18)	%		(31,275)	(0.16)	%		(65,775)	(0.34)	%
Interest rates		7,299	0.04	%		6,423	0.03	%		13,722	0.07	%
Metals		95,060	0.50	%		(159,428)	(0.83)	%		(64,368)	(0.33)	%
Soft commodities		2,362	0.01	%		5,302	0.03	%		7,664	0.04	%
Stock indices		103,825	0.54	%		(23,014)	(0.12)	%		80,811	0.42	%
Total Foreign Futures Positions		173,746				(191,961)				(18,215)
Total Futures Contracts	$	352,878	1.84	%	$	(51,722)	(0.27)	%	$	301,156	1.57	%

*	No individual futures contract position constituted greater than 1 percent of partners’ capital (net asset value). Accordingly, the number of contracts and expiration dates are not presented.

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Condensed Schedule of Investments (continued)

June 30, 2025

(Unaudited)

Securities owned

U.S. Government securities


						Percent of
						Partners' Capital
Face Value		Maturity Dates	Description	Fair Value		(net asset value)
$	1,300,000	8/14/2025	U.S. Treasury bill, 4.3% (cost $1,293,191)	$	1,293,160	6.75	%

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Condensed Schedule of Investments

December 31, 2024

Futures Contracts


	Unrealized gain/(loss) on open long contracts		Percent of Partners’ Capital (Net Asset Value)		Unrealized gain/(loss) on open short contracts		Percent of Partners’ Capital (Net Asset Value)		Net unrealized gain/(loss) on open contracts		Percent of Partners’ Capital (Net Asset Value)
Futures Contracts *
U.S. Futures Positions:
Agriculturals	$	2,867	0.01	%	$	(16,578)	(0.07)	%	$	(13,711)	(0.06)	%
Currencies		7,498	0.03	%		458,577	1.91	%		466,075	1.94	%
Energy		56,654	0.23	%		(56,369)	(0.23)	%		285	—	%
Interest rates		(11,312)	(0.04)	%		102,092	0.42	%		90,780	0.38	%
Meats		50,202	0.21	%		—	—	%		50,202	0.21	%
Metals		(54,745)	(0.23)	%		46,862	0.20	%		(7,883)	(0.03)	%
Soft commodities		260,055	1.08	%		85,104	0.35	%		345,159	1.43	%
Stock indices		(99,338)	(0.41)	%		12,879	0.05	%		(86,459)	(0.36)	%
Total U.S. Futures Positions		211,881				632,567				844,448

Foreign Futures Positions:
Agriculturals		(1,679)	(0.01)	%		(1,393)	(0.01)	%		(3,072)	(0.02)	%
Currencies		21,014	0.09	%		—	—	%		21,014	0.09	%
Energy		100	—	%		(48,566)	(0.20)	%		(48,466)	(0.20)	%
Interest rates		(142,921)	(0.59)	%		183,274	0.76	%		40,353	0.17	%
Metals		(81,619)	(0.34)	%		110,320	0.46	%		28,701	0.12	%
Soft commodities		11,009	0.04	%		3,370	0.02	%		14,379	0.06	%
Stock indices		(67,397)	(0.28)	%		12,653	0.05	%		(54,744)	(0.23)	%
Total Foreign Futures Positions		(261,493)				259,658				(1,835)
Total Futures Contracts	$	(49,612)	(0.21)	%	$	892,225	3.71	%	$	842,613	3.50	%

*	No individual futures contract position constituted greater than 1 percent of partners’ capital (net asset value). Accordingly, the number of contracts and expiration dates are not presented.

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Condensed Schedule of Investments (continued)

December 31, 2024

Securities owned

U.S. Government-sponsored enterprises


						Percent of
						Partners' Capital
Face Value		Maturity Dates	Description	Fair Value		(net asset value)
$	400,000	4/11/2025	Federal Farm Credit Banks, 2.9%	$	400,856	1.67	%
	1,200,000	3/28/2025-5/19/2025	Federal Home Loan Banks, 2.3%-3.5% **		1,201,087	4.99	%
			Total U.S. Government-sponsored enterprises (cost $1,600,000)	$	1,601,943	6.66	%

** No individual position constituted greater than 5 percent of partners’ capital (net asset value).

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Operations

(Unaudited)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Net trading gains (losses)
Net gains (losses) from futures trading
Realized	$	(546,828)	$	377,839	$	(416,480)	$	3,197,969
Change in unrealized		352,875		(1,428,897)		(541,457)		(832,649)
Commissions		(21,206)		(117,917)		(96,781)		(240,418)
Net gains (losses) from futures trading		(215,159)		(1,168,975)		(1,054,718)		2,124,902

Net gains (losses) from securities
Realized		397		—		397		—
Change in unrealized		(9,801)		160,694		(5,388)		302,274
Net gains (losses) from securities		(9,404)		160,694		(4,991)		302,274

Net trading gains (losses)		(224,563)		(1,008,281)		(1,059,709)		2,427,176

Net investment income (loss)
Income
Interest and dividend income, net		176,565		178,802		372,054		318,035
Expenses from operations
Brokerage charge		288,838		367,297		560,993		751,808
Incentive fees		—		1,206		—		146,848
Organizational and offering costs		13,722		21,721		29,260		44,402
Operating expenses		12,702		19,653		26,964		40,070
Total expenses		315,262		409,877		617,217		983,128
Net investment loss	$	(138,697)	$	(231,075)	$	(245,163)	$	(665,093)
Net income (loss)	$	(363,260)	$	(1,239,356)	$	(1,304,872)	$	1,762,083


	Three Months Ended June 30, 2025
	Class A		Class B		Legacy 1		Legacy 2		Global 1		Global 2
	Units		Units		Class Units		Class Units		Class Units		Class Units
Net income (loss) per unit (based on weighted average number of units outstanding during the period) and increase (decrease) in net asset value per unit for the period	$	(15.44)	$	(13.14)	$	(9.96)	$	(10.03)	$	(9.18)	$	(9.33)

Weighted average number of units outstanding		3,654.93		14,660.53		374.12		391.22		8,230.32		307.97


	Three Months Ended June 30, 2024
	Class A		Class B		Legacy 1		Legacy 2		Global 1		Global 2
	Units		Units		Class Units		Class Units		Class Units		Class Units
Net income (loss) per unit (based on weighted average number of units outstanding during the period) and increase (decrease) in net asset value per unit for the period	$	(47.95)	$	(39.01)	$	(38.77)	$	(37.83)	$	(38.55)	$	(37.82)

Weighted average number of units outstanding		3,669.48		20,564.30		427.56		391.22		10,514.32		345.49

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Operations (continued)

(Unaudited)


	Six Months Ended June 30, 2025
	Class A		Class B		Legacy 1		Legacy 2		Global 1		Global 2
	Units		Units		Class Units		Class Units		Class Units		Class Units
Net income (loss) per unit (based on weighted average number of units outstanding during the period) and increase (decrease) in net asset value per unit for the period	$	(52.67)	$	(43.41)	$	(40.09)	$	(39.42)	$	(39.13)	$	(38.70)

Weighted average number of units outstanding		3,654.93		15,408.85		381.76		391.22		8,669.07		309.69


	Six Months Ended June 30, 2024
	Class A		Class B		Legacy 1		Legacy 2		Global 1		Global 2
	Units		Units		Class Units		Class Units		Class Units		Class Units
Net income (loss) per unit (based on weighted average number of units outstanding during the period) and increase (decrease) in net asset value per unit for the period	$	38.10	$	27.84	$	44.03	$	41.39	$	47.57	$	44.87

Weighted average number of units outstanding		3,676.01		21,526.74		427.56		391.22		10,755.88		345.49

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Changes in Partners’ Capital (Net Asset Value)

Six Months Ended June 30, 2025

(Unaudited)


	Class A						Class B						Legacy 1 Class						Legacy 2 Class
	General Partner			Limited Partners			General Partner			Limited Partners			General Partner			Limited Partners			General Partner			Limited Partners
	Number			Number			Number			Number			Number			Number			Number			Number
	of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount
Partners’ capital,
December 31, 2024	231.29	$	204,059	3,423.64	$	3,020,494	—	$	—	17,095.89	$	11,825,466	—	$	—	427.56	$	351,477	250.67	$	197,804	140.55	$	110,903
Redemptions	—		—	—		—	—		—	(1,434.72)		(975,022)	—		—	(53.44)		(44,260)	—		—	—		—
Net income (loss)	—		(8,610)	—		(127,458)	—		—	—		(491,471)	—		—	—		(10,940)	—		(7,369)	—		(4,131)
Partners’ capital,
March 31, 2025	231.29	$	195,449	3,423.64	$	2,893,036	—	$	—	15,661.17	$	10,358,973	—	$	—	374.12	$	296,277	250.67	$	190,435	140.55	$	106,772
Redemptions	—		—	—		—	—		—	(1,855.35)		(1,197,480)	—		—	—		—	—		—	—		—
Net income (loss)	—		(3,571)	—		(52,856)	—		—	—		(211,211)	—		—	—		(3,728)	—		(2,514)	—		(1,409)
Partners’ capital,
June 30, 2025	231.29	$	191,878	3,423.64	$	2,840,180	—	$	—	13,805.82	$	8,950,282	—	$	—	374.12	$	292,549	250.67	$	187,921	140.55	$	105,363

Net asset value per General Partner and Limited Partner unit at December 31, 2024		$	882.25					$	691.71					$	822.05					$	789.09

Net asset value per General Partner and Limited Partner unit at March 31, 2025		$	845.02					$	661.44					$	791.92					$	759.70

Net asset value per General Partner and Limited Partner unit at June 30, 2025		$	829.58					$	648.30					$	781.96					$	749.67

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Changes in Partners’ Capital (Net Asset Value) (continued)

Six Months Ended June 30, 2025

(Unaudited)


	Global 1 Class						Global 2 Class
	General Partner			Limited Partners			General Partner			Limited Partners
	Number			Number			Number			Number			Total
	of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		Amount
Partners’ capital,
December 31, 2024	—	$	—	9,542.72	$	8,091,605	—	$	—	311.98	$	255,066	$	24,056,874
Redemptions	—		—	(845.22)		(694,680)	—		—	—		—		(1,713,962)
Net income (loss)	—		—	—		(282,471)	—		—	—		(9,162)		(941,612)
Partners’ capital,
March 31, 2025	—	$	—	8,697.50	$	7,114,454	—	$	—	311.98	$	245,904	$	21,401,300
Redemptions	—		—	(829.04)		(665,367)	—		—	(8.01)		(6,160)		(1,869,007)
Net income (loss)	—		—	—		(84,983)	—		—	—		(2,988)		(363,260)
Partners’ capital,
June 30, 2025	—	$	—	7,868.46	$	6,364,104	—	$	—	303.97	$	236,756	$	19,169,033

Net asset value per General Partner and Limited Partner unit at December 31, 2024		$	847.94					$	817.58

Net asset value per General Partner and Limited Partner unit at March 31, 2025		$	817.99					$	788.21

Net asset value per General Partner and Limited Partner unit at June 30, 2025		$	808.81					$	778.88

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Changes in Partners’ Capital (Net Asset Value) (continued)

Six Months Ended June 30, 2024

(Unaudited)


	Class A						Class B						Legacy 1 Class						Legacy 2 Class
	General Partner			Limited Partners			General Partner			Limited Partners			General Partner			Limited Partners			General Partner			Limited Partners
	Number			Number			Number			Number			Number			Number			Number			Number
	of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount

Partners’ capital,
December 31, 2023	231.29	$	214,617	3,455.12	$	3,205,977	—	$	—	23,691.52	$	17,342,365	—	$	—	427.56	$	361,592	250.67	$	203,985	140.55	$	114,370
Net increase (decrease) from payments by General Partner (see Note 5)	—		174	—		2,597	—		—	—		13,408	—		—	—		294	—		166	—		93
Redemptions	—		—	(5.07)		(5,059)	—		—	(2,113.54)		(1,616,579)	—		—	—		—	—		—	—		—
Net income (loss)	—		19,727	—		294,603	—		—	—		1,498,562	—		—	—		35,111	—		19,692	—		11,040
Partners’ capital,
March 31, 2024	231.29	$	234,518	3,450.05	$	3,498,118	—	$	—	21,577.98	$	17,237,756	—	$	—	427.56	$	396,997	250.67	$	223,843	140.55	$	125,503
Net increase (decrease) from payments by General Partner (see Note 5)	—		150	—		2,222	—		—	—		10,496	—		—	—		253	—		143	—		80
Redemptions	—		—	(23.72)		(23,890)	—		—	(1,453.85)		(1,193,119)	—		—	—		—	—		—	—		—
Net income (loss)	—		(11,239)	—		(166,645)	—		—	—		(763,727)	—		—	—		(16,832)	—		(9,626)	—		(5,396)
Partners’ capital,
June 30, 2024	231.29	$	223,429	3,426.33	$	3,309,805	—	$	—	20,124.13	$	15,291,406	—	$	—	427.56	$	380,418	250.67	$	214,360	140.55	$	120,187

Net asset value per General Partner and Limited Partner unit at December 31, 2023		$	927.89					$	732.01					$	845.71					$	813.75

Net asset value per General Partner and Limited Partner unit at March 31, 2024		$	1,013.94					$	798.86					$	928.51					$	892.97

Net asset value per General Partner and Limited Partner unit at June 30, 2024		$	965.99					$	759.85					$	889.74					$	855.14

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Consolidated Statements of Changes in Partners’ Capital (Net Asset Value) (continued)

Six Months Ended June 30, 2024

(Unaudited)


	Global 1 Class						Global 2 Class						GP Class *
	General Partner			Limited Partners			General Partner			Limited Partners			General Partner
	Number			Number			Number			Number			Number			Total
	of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		of Units	Amount		Amount
Partners’ capital,
December 31, 2023	—	$	—	11,220.92	$	9,735,931	—	$	—	345.49	$	289,761	—	$	587,556	$	32,056,154
Net increase (decrease) from payments by General Partner (see Note 5)	—		—	—		7,793	—		—	—		235	—		(24,760)		—
Redemptions	—		—	(484.98)		(449,947)	—		—	—		—	—		(76,498)		(2,148,083)
Net income (loss)	—		—	—		945,930	—		—	—		28,334	—		148,440		3,001,439
Partners’ capital,
March 31, 2024	—	$	—	10,735.94	$	10,239,707	—	$	—	345.49	$	318,330	—	$	634,738	$	32,909,510
Net increase (decrease) from payments by General Partner (see Note 5)	—		—	—		6,431	—		—	—		202	—		(19,977)		—
Redemptions	—		—	(354.84)		(344,765)	—		—	—		—	—		(122,684)		(1,684,458)
Net income (loss)	—		—	—		(400,307)	—		—	—		(13,266)	—		147,682		(1,239,356)
Partners’ capital,
June 30, 2024	—	$	—	10,381.10	$	9,501,066	—	$	—	345.49	$	305,266	—	$	639,759	$	29,985,696

Net asset value per General Partner and Limited Partner unit at December 31, 2023		$	867.66					$	838.70

Net asset value per General Partner and Limited Partner unit at March 31, 2024		$	953.78					$	921.39

Net asset value per General Partner and Limited Partner unit at June 30, 2024		$	915.23					$	883.57

*See Note 5 regarding the GP Class.

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

Grant Park Futures Fund Limited Partnership

Notes to Consolidated Financial Statements

(Unaudited)

Note 1. Nature of Business and Significant Accounting Policies

Nature of business: Grant Park Futures Fund Limited Partnership (the “Partnership”) was organized as a limited partnership under Illinois law in August 1988 and will continue until December 31, 2027, unless terminated sooner as provided for in its Limited Partnership Agreement. As a commodity investment pool, the Partnership is subject to the regulations of the Commodity Futures Trading Commission (“CFTC”), an agency of the United States (U.S.) government which regulates most aspects of the commodity futures industry; rules of the National Futures Association,

Percent of

Partners' Capital

Fair Value

(net asset value)

Total securities owned (cost of $1,293,191)

GRANT PARK FUTURES FUND LIMITED PARTNERSHIP 10-Q