-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 fhfHEJj0742h2KjmdNzNgg==

<SEC-DOCUMENT>0000861441-09-000002.txt : 20090323
<SEC-HEADER>0000861441-09-000002.hdr.sgml : 20090323
<ACCEPTANCE-DATETIME>20090323104448
ACCESSION NUMBER:		0000861441-09-000002
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090323
DATE AS OF CHANGE:		20090323
EFFECTIVENESS DATE:		20090323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FUTURES PORTFOLIO FUND L.P.
		CENTRAL INDEX KEY:			0000861441
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				521627106
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-86144-1P
		FILM NUMBER:		09697814

	BUSINESS ADDRESS:	
		STREET 1:		C/O STEBEN & COMPANY, INC.
		STREET 2:		2099 GAITHER RD #200
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		240-631-9808

	MAIL ADDRESS:	
		STREET 1:		C/O STEBEN & COMPANY, INC.
		STREET 2:		2099 GAITHER RD #200
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FUTURES PORTFOLIO FUND LP
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0000861441</cik>
        <entityName>FUTURES PORTFOLIO FUND L.P.</entityName>
        <issuerAddress>
            <street1>C/O STEBEN &amp; COMPANY, INC.</street1>
            <street2>2099 GAITHER RD #200</street2>
            <city>ROCKVILLE</city>
            <stateOrCountry>MD</stateOrCountry>
            <zipCode>20850</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>240-631-9808</issuerPhoneNumber>
        <issuerPreviousNameList>
            <previousName>FUTURES PORTFOLIO FUND LP</previousName>
        </issuerPreviousNameList>
        <jurisdictionOfInc>MD</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ken</firstName>
                <middleName></middleName>
                <lastName>Steben</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2099 Gaither Road</street1>
                <street2>Ste 200</street2>
                <city>Rockville</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20850</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName></middleName>
                <lastName>Bulley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2099 Gaither Road</street1>
                <street2>Ste 2200</street2>
                <city>Rockville</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20850</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ahmed</firstName>
                <middleName></middleName>
                <lastName>Hassanein</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2099 Gaither road</street1>
                <street2>Ste 2200</street2>
                <city>Rockville</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20850</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Barry</firstName>
                <middleName></middleName>
                <lastName>Gainsburg</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2099 Gaither Road</street1>
                <street2>Ste 2200</street2>
                <city>Rockville</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20850</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Neil</firstName>
                <middleName></middleName>
                <lastName>Menard</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2099 Gaither Road</street1>
                <street2>Ste 2200</street2>
                <city>Rockville</city>
                <stateOrCountry>MD</stateOrCountry>
                <zipCode>20850</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Over $100,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1990-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Linsco/Private Ledger Corp</recipientName>
                <recipientCRDNumber>6413</recipientCRDNumber>
                <associatedBDName>Linsco/PPrivate Ledger Corp</associatedBDName>
                <associatedBDCRDNumber>6413</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>One Beacon Street</street1>
                    <street2>22nd Floor</street2>
                    <city>Boston</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02108</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Wachiovia Securities Inc.</recipientName>
                <recipientCRDNumber>19616</recipientCRDNumber>
                <associatedBDName>Wachovia Securities Inc</associatedBDName>
                <associatedBDCRDNumber>19616</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>One North Jefferson Street</street1>
                    <street2></street2>
                    <city>St. Louis</city>
                    <stateOrCountry>MO</stateOrCountry>
                    <zipCode>63103</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Commonwealth Financial Network</recipientName>
                <recipientCRDNumber>8032</recipientCRDNumber>
                <associatedBDName>Commonwealth Financial Network</associatedBDName>
                <associatedBDCRDNumber>8032</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>29 Sawyer Road</street1>
                    <street2></street2>
                    <city>Waltham</city>
                    <stateOrCountry>MA</stateOrCountry>
                    <zipCode>02453</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>855882681</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>35</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>9925</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>32784087</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Other expenses with regard to this offering are estimated at $150,000 which includes printing, legal, accounting and additional expenses.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>FUTURES PORTFOLIO FUND L.P.</issuerName>
                <signatureName>Barry R. Gainsburg</signatureName>
                <nameOfSigner>Barry R. Gainsburg</nameOfSigner>
                <signatureTitle>General Counsel &amp; CCO</signatureTitle>
                <signatureDate>2009-03-23</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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