SUPERFUND GREEN, L.P. - FORM 10-Q

SUPERFUND GREEN, L.P. - FORM 10-Q - May 15, 2018

Attached files

Attached files

SUPERFUND GREEN, L.P. Reports

file	filename
EX-32.2 - EX-32.2 - SUPERFUND GREEN, L.P.	d578175dex322.htm
EX-32.1 - EX-32.1 - SUPERFUND GREEN, L.P.	d578175dex321.htm
EX-31.2 - EX-31.2 - SUPERFUND GREEN, L.P.	d578175dex312.htm
EX-31.1 - EX-31.1 - SUPERFUND GREEN, L.P.	d578175dex311.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended March 31, 2018

☐	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 ☒ 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 ☒ 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 the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

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 Exchange Act). Yes ☐ No ☒

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 March 31, 2018 (unaudited) and December 31, 2017		3
Unaudited Condensed Schedule of Investments as of March 31, 2018		4
Condensed Schedule of Investments as of December 31, 2017		5
Unaudited Statements of Operations for the Three Months Ended March 31, 2018 and March 31, 2017		6
Unaudited Statements of Changes in Net Assets for the Three Months Ended March 31, 2018 and March 31, 2017		7
Unaudited Statements of Cash Flows for the Three Months Ended March 31, 2018 and March 31, 2017		8

Unaudited Financial Statements: Superfund Green, L.P. – Series A
Statements of Assets and Liabilities as of March 31, 2018 (unaudited) and December 31, 2017		9
Unaudited Condensed Schedule of Investments as of March 31, 2018		10
Condensed Schedule of Investments as of December 31, 2017		11
Unaudited Statements of Operations for the Three Months Ended March 31, 2018 and March 31, 2017		12
Unaudited Statements of Changes in Net Assets for the Three Months Ended March 31, 2018 and March 31, 2017		13
Unaudited Statements of Cash Flows for the Three Months Ended March 31, 2018 and March 31, 2017		14

Unaudited Financial Statements: Superfund Green, L.P. – Series B
Statements of Assets and Liabilities as of March 31, 2018 (unaudited) and December 31,2017		15
Unaudited Condensed Schedule of Investments as of March 31, 2018		16
Condensed Schedule of Investments as of December 31, 2017		17
Unaudited Statements of Operations for the Three Months Ended March 31, 2018 and March 31, 2017		18
Unaudited Statements of Changes in Net Assets for the Three Months Ended March 31, 2018 and March 31, 2017		19
Unaudited Statements of Cash Flows for the Three Months Ended March 31, 2018 and March 31, 2017		20

Notes to Unaudited Financial Statements.		21-38

SUPERFUND GREEN, L.P.

STATEMENTS OF ASSETS AND LIABILITIES

as of March 31, 2018 and December 31, 2017


	March 31, 2018 (unaudited)		December 31, 2017
ASSETS
Due from brokers	$	2,171,036	$	3,146,140
Unrealized gain on futures contracts purchased		246,837		304,814
Unrealized gain on futures contracts sold		144,977		111,436
Cash and Cash Equivalents		6,103,088		5,559,722

Total assets		8,665,938		9,122,112

LIABILITIES
Unrealized loss on futures contracts purchased		212,254		103,106
Unrealized loss on futures contracts sold		52,757		99,629
Redemptions payable		790,745		166,865
Management fees payable		12,994		13,794
Fees payable		1,579		2,766

Total liabilities		1,070,329		386,160

NET ASSETS	$	7,595,609	$	8,735,952

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of March 31, 2018


	Percentage of
	Net Assets			Fair Value
Futures contracts, at fair value
Futures contracts purchased
Currency		(0.2	)%	$	(18,383	)
Energy		0.3			19,559
Financial		2.0	*		148,384
Food & Fiber		0.3			21,025
Indices		(0.8	)		(50,325	)
Metals		(1.1	)*		(85,677	)

Total futures contracts purchased		0.5			34,583

Futures contracts sold
Currency		—	**		(2,974	)
Energy		(0.3	)		(19,715	)
Financial		(0.1	)		(10,469	)
Food & Fiber		0.2			16,616
Indices		0.5			34,501
Livestock		0.3			24,940
Metals		0.6			49,321

Total futures contracts sold		1.2			92,220

Total futures contracts, at fair value		1.7	%	$	126,803

Futures contracts by country composition
Australia		(0.1	)%	$	(7,680	)
Canada		0.1			7,050
European Monetary Union		0.5			35,961
Great Britain		0.1			7,862
Japan		0.1			5,819
United States		(0.7	)		(50,964	)
Other		1.7	*		128,755

Total futures contracts by country		1.7	%	$	126,803

*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

**	Due to rounding – amount is less than 0.05%

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.

CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2017


	Percentage of
	Net Assets			Fair Value
Futures contracts, at fair value
Futures contracts purchased
Currency		0.6	%	$	51,395
Energy		0.8			67,127
Financial		(0.6	)		(56,707	)
Food & Fiber		(0.2	)		(15,566	)
Indices		0.9			77,999
Metals		0.9			77,460

Total futures contracts purchased		2.4			201,708

Futures contracts sold
Currency		0.2			13,660
Energy		(0.4	)		(37,243	)
Financial		0.3			25,499
Food & Fiber		0.0	**		(816	)
Indices		0.2			18,185
Livestock		0.0	**		340
Metals		(0.1	)		(7,818	)

Total futures contracts sold		0.2			11,807

Total futures contracts, at fair value		2.6	%	$	213,515

Futures contracts by country composition
Australia		0.0	**%	$	(3,670	)
Canada		0.0	**		(2,885	)
European Monetary Union		0.1			10,942
Great Britain		0.3			26,052
Japan		0.2			19,012
United States		1.8	*		159,128
Other		0.1			4,936

Total futures contracts by country		2.5	%	$	213,515

*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

**	Due to rounding – amount is less than 0.05%

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF OPERATIONS


	Three Months Ended
	March 31,
	2018			2017
Investment income
Interest income	$	2,037		$	3,720
Other income		18			5,616

Total investment income		2,055			9,336

Expenses
Selling Commission		87,407			88,250
Management fees		40,426			40,816
Operating expenses		3,278			3,310
Other		683			6,404

Total expenses		131,794			138,780

Net investment loss		(129,739	)		(129,444	)

Realized and unrealized gain (loss) on investments
Net realized gain (loss) on:
Futures and forward contracts		101,517			381,541
Investments in securities		468			—
Net change in unrealized appreciation (depreciation) on:
Futures and forward contracts		(86,712	)		58,772
Investments in securities		375			—
Brokerage commissions		(36,648	)		(39,716	)

Net gain (loss) on investments		(21,000	)		400,597

Net increase (decrease) in net assets from operations	$	(150,739	)	$	271,153

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS


	Three Months Ended
	March 31,
	2018			2017
Increase (decrease) in net assets from operations
Net investment loss	$	(129,739	)	$	(129,444	)
Net realized gain (loss) on futures and forward contracts		101,985			381,541
Net change in unrealized appreciation (depreciation) on futures and forward contracts		(86,337	)		58,772
Brokerage commissions		(36,648	)		(39,716	)

Net increase (decrease) in net assets from operations		(150,739	)		271,153
Capital share transactions
Issuance of Units		84,692			80,272
Redemption of Units		(1,074,296	)		(702,484	)

Net decrease in net assets from capital share transactions		(989,604	)		(622,212	)
Net decrease in net assets		(1,140,343	)		(351,059	)

Net assets, beginning of period		8,735,952			8,783,260

Net assets, end of period	$	7,595,609		$	8,432,201

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.

UNAUDITED STATEMENTS OF CASH FLOWS


	Three Months Ended
	March 31,
	2018			2017
Cash flows from operating activities
Net increase (decrease) in net assets from operations	$	(150,739	)	$	271,153
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities:
Increase (decrease) in due from brokers		975,104			(717,920	)
Increase in unrealized appreciation on open forward contracts		—			13,357
Increase (decrease) in futures contracts purchased		167,125			(81,368	)
Increase in unrealized depreciation on open forward contracts		—			466
Increase (decrease) in futures contracts sold		(80,413	)		8,775
Decrease in management fee payable		(800	)		(2,062	)
Decrease in fees payable		(1,187	)		(4,202	)

Net cash and cash equivalent provided by (used in) operating activities		909,090			(511,801	)

Cash flows from financing activities
Subscriptions, net of change in advanced subscriptions		84,692			80,272
Redemptions, net of change in redemptions payable		(450,416	)		(1,681,938	)

Net cash and cash equivalent used in financing activities		(365,724	)		(1,601,666	)

Net increase (decrease) in cash and cash equivalent		543,366			(2,113,467	)
Cash and cash equivalent, beginning of period		5,559,722			4,768,586

Cash and cash equivalent, end of period	$	6,103,088		$	2,655,119

Supplemental cash flow disclosures Redemption payable	$	790,745		$	201,117

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

STATEMENTS OF ASSETS AND LIABILITIES

as of March 31, 2018 and December 31, 2017


	March 31, 2018 (unaudited)		December 31, 2017
ASSETS
Due from brokers	$	662,239	$	1,224,817
Unrealized gain on futures contracts purchased		52,767		79,285
Unrealized gain on futures contracts sold		48,522		28,065
Cash and Cash Equivalents		2,585,232		2,058,246

Total assets		3,348,760		3,390,413

LIABILITIES
Unrealized loss on futures contracts purchased		48,842		25,178
Unrealized loss on futures contracts sold		12,139		29,848
Redemptions payable		702,705		27,170
Management fee payable		5,086		5,159
Fees payable		113		670

Total liabilities		768,885		88,025

NET ASSETS	$	2,579,875	$	3,302,388

Number of Units		2,358.002		3,002.761

Net asset value per Unit	$	1,094.09	$	1,099.78

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of March 31, 2018


	Percentage of Net Assets			Fair Value
Futures contracts, at fair value
Futures contracts purchased
Currency		(0.3	)%	$	(7,814	)
Energy		0.1			2,142
Financial		1.5	*		39,275
Food & Fiber		0.2			5,162
Indices		(0.3	)		(8,414	)
Metals		(1.0	)*		(26,426	)

Total futures contracts purchased		0.2			3,925

Futures contracts sold
Currency		-	**		1,198
Energy		(0.2	)		(4,610	)
Financial		(0.1	)		(3,641	)
Food & Fiber		0.3			7,194
Indices		0.5			12,572
Livestock		0.2			4,500
Metals		0.7			19,170

Total futures contracts sold		1.4			36,383

Total futures contracts, at fair value		1.6	%	$	40,308

Futures contracts by country composition
Australia		0.1	%	$	1,714
Canada		0.1			3,434
European Monetary Union		0.1			3,777
Great Britain		-	**		294
Japan		-	**		282
United States		(0.3	)		(7,167	)
Other		1.6	*		37,974

Total futures contracts by country		1.6	%	$	40,308

*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

**	Due to rounding – amount is less than 0.05%

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2017


	Percentage of Net Assets			Fair Value
Futures Contracts, at fair value
Futures Contracts Purchased
Currency		0.4	%	$	14,668
Energy		0.5			16,418
Financial		(0.5	)		(15,601	)
Food & Fiber		(0.1	)		(4,093	)
Indices		0.7			23,490
Metals		0.6			19,225

Total futures contracts purchased		1.6			54,107

Futures Contracts Sold
Currency		0.1			3,866
Energy		(0.4	)		(12,562	)
Financial		0.2			8,110
Food & Fiber		(0.1	)		(3,850	)
Indices		0.3			5,018
Metals		(0.1	)		(2,365	)

Total futures contracts sold		0.0			(1,783	)

Total futures contracts, at fair value		1.6	%	$	52,324

Futures contracts by country composition
Australian		0.0	**%	$	(1,003	)
Canada		0.0	**		(409	)
European Monetary Union		0.1			3,433
Great Britain		0.2			6,115
Japan		0.2			6,873
United States		1.0	*		34,994
Other		0.1			2,321

Total futures contracts by country		1.6	%	$	52,324

^*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

^**	Due to rounding—amount is less than 0.05%

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

UNAUDITED STATEMENTS OF OPERATIONS


	Three Months Ended
	March 31,
	2018			2017
Investment income
Interest income	$	842		$	1,622
Other income		4			2,999

Total investment income		846			4,621

Expenses
Selling commission		33,401			36,233
Management fees		15,448			16,758
Operating expenses		1,253			1,359
Other		139			2,854

Total expenses		50,241			57,204

Net investment loss		(49,395)			(52,583	)

Realized and unrealized gain (loss) on investments
Net realized gain (loss) on:
Futures and forward contracts		52,774			129,601
Investments in securities		133			—
Net change in unrealized appreciation (depreciation) on:
Futures and forward contracts		(12,016	)		12,519
Investments in securities		107			—
Brokerage commissions		(9,591)			(12,120	)

Net gain (loss) on investments		31,407			130,000

Net increase (decrease) in net assets from operations	$	(17,988	)	$	77,417

Net increase (decrease) in net assets from operations per Unit (based upon weighted average number of units outstanding during period)*	$	(6.39	)	$	22.13

Net increase (decrease) in net assets from operations per Unit (based upon change in net asset value per unit during period)	$	(5.69	)	$	21.30

^*	Weighted average number of Units outstanding for Series A for the Three Months Ended March 31, 2018 and March 31, 2017: 2,813.61 and 3,498.07, respectively.

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS


	Three Months Ended
	March 31,
	2018			2017
Increase (decrease) in net assets from operations
Net investment loss	$	(49,395	)	$	(52,583	)
Net realized gain (loss) on futures and forward contracts		52,907			129,601
Net change in unrealized appreciation (depreciation) on futures and forward contracts		(11,909	)		12,519
Brokerage commission		(9,591	)		(12,120	)

Net increase (decrease) in net assets from operations		(17,988	)		77,417
Capital share transactions
Issuance of Units		33,044			32,151
Redemption of Units		(737,569	)		(337,242	)

Net decrease in net assets from capital share transactions		(704,525	)		(305,091	)
Net decrease in net assets		(722,513	)		(227,674	)
Net assets, beginning of period		3,302,388			3,656,086

Net assets, end of period	$	2,579,875		$	3,428,412

Units, beginning of period		3,002.761			3,694.882
Issuance of Units		29.893			32.042
Redemption of Units		(674.652	)		(335.141	)

Units, end of period		2,358.002			3,391.783

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES A

UNAUDITED STATEMENTS OF CASH FLOWS


	Three Months Ended
	March 31,
	2018			2017
Cash flows from operating activities
Net increase (decrease) in net assets from operations	$	(17,988	)	$	77,417
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities:
Decrease (increase) in due from brokers		562,578			(117,996	)
Increase in unrealized appreciation on open forward contracts		—			1,427
Increase (decrease) in futures contracts purchased		50,182			(19,346	)
Decrease in unrealized depreciation on open forward contracts		—			(2,839	)
Increase (decrease) in futures contracts sold		(38,166	)		8,240
Decrease in management fee payable		(73	)		(2,018	)
Decrease in fees payable		(557	)		(2,852	)

Net cash and cash equivalent provided by (used in) operating activities		555,976			(57,967	)

Cash flows from financing activities
Subscriptions, net of change in advanced subscriptions		33,044			32,151
Redemptions, net of change in redemptions payable		(62,034	)		(1,411,976	)

Net cash and cash equivalent used in financing activities		(28,990	)		(1,379,825	)

Net increase (decrease) in cash and cash equivalents		526,986			(1,437,792	)
Cash and cash equivalent, beginning of period		2,058,246			2,648,829

Cash and cash equivalent, end of period	$	2,585,232		$	1,211,037

Supplemental cash flow disclosures Redemption payable	$	702,705		$	75,940

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES B

STATEMENTS OF ASSETS AND LIABILITIES

as of March 31, 2018 and December 31, 2017


	March 31, 2018 (unaudited)		December 31, 2017
ASSETS
Due from brokers	$	1,508,797	$	1,921,323
Unrealized gain on Futures contracts purchased		194,070		225,529
Unrealized gain on Futures contracts sold		96,455		83,371
Cash and Cash Equivalents		3,517,856		3,501,476

Total assets		5,317,178		5,731,699

LIABILITIES
Unrealized loss on Futures contracts purchased		163,412		77,928
Unrealized loss on Futures contracts sold		40,618		69,781
Redemptions payable		88,040		139,695
Management fee payable		7,908		8,635
Fees payable		1,466		2,096

Total liabilities		301,444		298,135

NET ASSETS	$	5,015,734	$	5,433,564

Number of Units		3,783.853		3,995.325

Net asset value per Unit	$	1,325.56	$	1,359.98

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P. – SERIES B

UNAUDITED CONDENSED SCHEDULE OF INVESTMENTS

as of March 31, 2018


	Percentage of Net Assets			Fair Value
Futures contracts, at fair value
Futures contracts purchased
Currency		(0.2	)%	$	(10,569	)
Energy		0.3			17,417
Financial		2.2	*		109,109
Food & Fiber		0.3			15,863
Indices		(0.8	)		(41,911	)
Metals		(1.2	)*		(59,251	)

Total futures contracts purchased		0.6			30,658

Futures contracts sold
Currency		(0.1	)		(4,172	)
Energy		(0.3	)		(15,105	)
Financial		(0.1	)		(6,828	)
Food & Fiber		0.2			9,422
Indices		0.4			21,929
Livestock		0.4			20,440
Metals		0.6			30,151

Total futures contracts sold		1.1			55,837

Total futures contracts, at fair value		1.7	%	$	86,495

Futures and forward contracts by country composition
Australia		(0.2	)%	$	(9,394	)
Canada		0.1			3,616
European Monetary Union		0.6			32,184
Great Britain		0.2			7,568
Japan		0.1			5,537
United States		(0.9	)		(43,797	)
Other		1.8	*		90,781

Total futures and forward contracts by country		1.7	%	$	86,495

*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

**	Due to rounding—amount is less than 0.05%.

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES B

CONDENSED SCHEDULE OF INVESTMENTS

as of December 31, 2017


	Percentage of Net Assets			Fair Value
Futures contracts, at fair value
Futures contracts purchased
Currency		0.7	%	$	36,727
Energy		0.9			50,709
Financial		(0.8	)		(41,106	)
Food & Fiber		(0.2	)		(11,473	)
Indices		1.0	*		54,509
Metals		1.1	*		58,235

Total futures contracts purchased		2.7			147,601

Futures contracts sold
Currency		0.2			9,794
Energy		(0.4	)		(24,681	)
Financial		0.3			17,389
Food & Fiber		0.1			3,034
Indices		0.2			13,167
Livestock		0.0	**		340
Metals		(0.1	)		(5,453	)

Total futures contracts sold		0.3			13,590

Total futures contracts, at fair value		3.0	%	$	161,191

Futures and forward contracts by country composition
Australia		0.0	**%	$	(2,667	)
Canada		0.0	**		(2,476	)
European Monetary Union		0.1			7,509
Great Britain		0.4			19,937
Japan		0.2			12,139
United States		2.3	*		124,134
Other		0.0	**		2,615

Total futures and forward contracts by country		3.0	%	$	161,191

*	No individual contract position constituted one percent or greater of net assets. Accordingly, the number of contracts and expiration dates are not presented.

**	Due to rounding – amount is less than 0.05%

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES B

UNAUDITED STATEMENTS OF OPERATIONS


	Three Months Ended
	March 31,
	2018			2017
Investment income
Interest income	$	1,195		$	2,098
Other income		14			2,617

Total investment income		1,209			4,715

Expenses
Selling commission		54,006			52,017
Management fees		24,978			24,058
Operating expenses		2,025			1,951
Other		544			3,550

Total expenses		81,553			81,576

Net investment loss		(80,344)			(76,861	)

Realized and unrealized gain (loss) on investments
Net realized gain (loss) on:
Futures and forward contracts		48,743			251,940
Investments in securities		335			—
Net change in unrealized appreciation (depreciation) on futures and forward contracts
Futures and forward contracts		(74,696	)		46,253
Investments in securities		268			—
Brokerage commissions		(27,057)			(27,596	)

Net gain (loss) on investments		(52,407)			270,597

Net increase (decrease) in net assets from operations	$	(132,751	)	$	193,736

Net increase (decrease) in net assets from operations per Unit (based upon weighted average number of units outstanding during period)*	$	(34.05	)	$	40.82

Net increase (decrease) in net assets from operations per Unit (based upon change in net asset value per unit during period)	$	(34.42	)	$	40.26

*	Weighted average number of Units outstanding for Series B for Three Months Ended March 31, 2018 and March 31, 2017: 3,898.14 and 4,746.61, respectively.

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES B

UNAUDITED STATEMENTS OF CHANGES IN NET ASSETS


	Three Months Ended
	March 31,
	2018			2017
Increase (decrease) in net assets from operations
Net investment loss	$	(80,344	)	$	(76,861	)
Net realized gain (loss) on futures and forward contracts		49,078			251,940
Net change in unrealized appreciation (depreciation) on futures and forward contracts		(74,428	)		46,253
Brokerage commissions		(27,057	)		(27,596	)

Net increase (decrease) in net assets from operations		(132,751	)		193,736
Capital share transactions
Issuance of Units		51,648			48,121
Redemption of Units		(336,727	)		(365,242	)

Net decrease in net assets from capital share transactions		(285,079	)		(317,121	)

Net decrease in net assets		(417,830	)		(123,385	)
Net assets, beginning of period		5,433,564			5,127,174

Net assets, end of period	$	5,015,734		$	5,003,789

Units, beginning of period		3,995.325			4,887.522
Issuance of Units		37.521			45.243
Redemption of Units		(248.993	)		(339.046	)

Units, end of period		3,783.853			4,593.719

See accompanying notes to unaudited financial statements.

SUPERFUND GREEN, L.P.—SERIES B

UNAUDITED STATEMENTS OF CASH FLOWS


	Three Months Ended
	March 31,
	2018			2017
Cash flows from operating activities
Net increase (decrease) in net assets from operations	$	(132,751	)	$	193,736
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities:
Decrease (increase) in due from brokers		412,526			(599,924	)
Increase in unrealized appreciation on open forward contracts		—			11,930
Increase (decrease) in futures contracts purchased		116,943			(62,022	)
Increase in unrealized depreciation on open forward contracts		—			3,305
Increase (decrease) in futures contracts sold		(42,247	)		535
Decrease in management fee payable		(727	)		(44	)
Decrease in fees payable		(630	)		(1,350	)

Net cash and cash equivalent provided by (used in) operating activities		353,114			(453,834	)

Cash flows from financing activities
Subscriptions, net of change in advance subscriptions		51,648			48,121
Redemptions, net of change in redemptions payable		(388,382	)		(269,962	)

Net cash and cash equivalent used in financing activities		(336,734	)		(221,841	)

Net increase (decrease) in cash and cash equivalent		16,380			(675,675	)
Cash and cash equivalent, beginning of period		3,501,476			2,119,757

Cash and cash equivalent, end of period	$	3,517,856		$	1,444,082

Supplemental disclosure of non-cash financing activities
Redemption payable	$	88,040		$	125,177

See accompanying notes to unaudited financial statements.

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

NOTES TO UNAUDITED FINANCIAL STATEMENTS

March 31, 2018

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, 2017.

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 from the recognized exchange. The Fund uses the fair value method for valuing its U.S. Treasury Bills; this portfolio is classified within Level 2 of the fair value hierarchy. We use quoted prices from active markets in valuing the U.S. Treasury Bills.

Cash Translation of Foreign Currency

The fund maintains cash deposits with financial institutions in amounts that are in excess of the coverage limits adopted by the Federal Deposit Insurance Corporation. The fund does not however, believe it is exposed to significant credit risk on these holdings.

Cash equivalents include short term highly liquid investments of sufficient credit quality such as treasury bills that are readily convertible to known amounts of cash and have original maturities of three months or less.

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.

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. 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 statement of assets and liabilities as gross unrealized gain or loss, and any change in that amount from the prior period is reflected in the accompanying statement of operations. 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 March 31, 2018, the Fund had on deposit $1,336,110 at ADM Investor Services, Inc. and $1,139,172 at INTL FCStone Financial Inc. As of March 31, 2018, Series A had on deposit $358,054 at ADM Investor Services, Inc. and $304,184 at INTL FCStone Financial Inc. As of March 31, 2018, Series B had on deposit $673,872 at ADM Investor Services, Inc. and $834,925 at INTL FCStone Financial 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 2014 through 2018 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 2016-01

In January 2016, FASB issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Liabilities (“ASU 2016-01”). The amendments in ASU 2016-01 affect any entity that holds financial assets or owes financial liabilities. The guidance is effective for fiscal years beginning after December 15, 2017. The fund adopted ASU 2016-01 as of January 1, 2018, and the adoption did not have a material impact on its financial statements.

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 trading is in its U.S. Treasury Bill portfolio. The Fund uses the fair value method for valuing its U.S. Treasury Bills; this portfolio is classified within Level 2 of the fair value hierarchy. We use quoted prices from active markets in valuing the U.S. Treasury Bills.

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 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. There were no Level 3 holdings at March 31, 2018 and March 31, 2017, or during the period then ended.

The following table summarizes the valuation of the Fund’s assets and liabilities by the ASC 820 fair value hierarchy as of March 31, 2018 and December 31, 2017:

Superfund Green, L.P.


	Balance March 31, 2018		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		144,977		144,977		—		—
Futures contracts purchased		246,837		246,837		—		—
Cash equivalent		419,290		—		419,290		—

Total Assets Measured at Fair Value	$	811,104	$	391,814	$	419,290	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		52,757		52,757		—		—
Futures contracts purchased		212,254		212,254		—		—

Total Liabilities Measured at Fair Value	$	265,011	$	265,011	$	—	$	—


	Balance December 31, 2017		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		111,436		111,436		—		—
Futures contracts purchased		304,814		304,814		—		—

Total Assets Measured at Fair Value	$	416,250	$	416,250	$	—	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		99,629		99,629		—		—
Futures contracts purchased		103,106		103,106		—		—

Total Liabilities Measured at Fair Value	$	202,735	$	202,735	$	—	$	—

Superfund Green, L.P.—Series A


	Balance March 31, 2018		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		48,522		48,522		—		—
Futures contracts purchased		52,767		52,767		—		—
Cash equivalent		119,797		—		119,797		—

Total Assets Measured at Fair Value	$	221,086	$	101,289	$	119,797	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		12,139		12,139		—		—
Futures contracts purchased		48,842		48,842		—		—

Total Liabilities Measured at Fair Value	$	60,981	$	60,981	$	—	$	—


	Balance December 31, 2017		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		28,065		28,065		—		—
Futures contracts purchased		79,285		79,285		—		—

Total Assets Measured at Fair Value	$	107,350	$	107,350	$	—	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		29,848		29,848		—		—
Futures contracts purchased		25,178		25,178		—		—

Total Liabilities Measured at Fair Value	$	55,026	$	55,026	$	—	$	—

Superfund Green, L.P.—Series B


	Balance March 31, 2018		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		96,455		96,455		—		—
Futures contracts purchased		194,070		194,070		—		—
Cash equivalent		299,493		—		299,493		—

Total Assets Measured at Fair Value	$	590,018	$	290,525	$	299,493	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		40,618		40,618		—		—
Futures contracts purchased		163,412		163,412		—		—

Total Liabilities Measured at Fair Value	$	204,030	$	204,030	$	—	$	—


	Balance December 31, 2017		Level 1		Level 2		Level 3
ASSETS
Unrealized appreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		83,371		83,371		—		—
Futures contracts purchased		225,529		225,529		—		—

Total Assets Measured at Fair Value	$	308,900	$	308,900	$	—	$	—

LIABILITIES
Unrealized depreciation on open forward contracts	$	—	$	—	$	—	$	—
Futures contracts sold		69,781		69,781		—		—
Futures contracts purchased		77,928		77,928		—		—

Total Liabilities Measured at Fair Value	$	147,709	$	147,709	$	—	$	—

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 non derivative instruments in the Statements of Operations.

The Fund engages in the speculative trading of 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 commodity futures contracts are recorded in the statements of assets and liabilities as unrealized appreciation or depreciation on 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 change in unrealized gain (loss) on investments in the Statements of Operations.

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 March 31, 2018, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location		Asset Derivatives at March 31, 2018		Liability Derivatives at March 31, 2018			Net
Futures contracts		Futures contracts purchased	$	246,837	$	(212,254	)	$	34,583
Futures contracts		Futures contracts sold		144,977		(52,757	)		92,220

Totals			$	391,814	$	(265,011	)	$	126,803

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, 2017, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location		Asset Derivatives at December 31, 2017		Liability Derivatives at December 31, 2017			Net
Futures contracts		Futures contracts purchased	$	304,814	$	(103,106	)	$	201,708
Futures contracts		Futures contracts sold		111,436		(99,629			11,807

Totals			$	416,250	$	(202,735	)	$	213,515

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of March 31, 2018 is as follows:


				Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities			Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	133,181		$	—	$	—	$	133,181
INTL FCStone		(6,378	)		—		—		(6,378	)

Totals	$	126,803		$	—	$	—	$	126,803

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2017 is as follows:


			Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities		Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	98,331	$	—	$	—	$	98,331
INTL FCStone		115,184		—		—		115,184

Totals	$	213,515	$	—	$	—	$	213,515

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2018:


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		Realized and change in unrealized loss on futures and forward contracts	$	1,687	$	—
Futures contracts		Realized and change in unrealized gain (loss) on futures and forward contracts		99,830		(86,712	)

Total			$	101,517	$	(86,712	)

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2017:


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		Realized and change in unrealized gain (loss) on futures and forward contracts	$	39,987	$	(13,822	)
Futures contracts		Realized and change in unrealized loss on futures and forward contracts		341,554		72,594

Total			$	381,541	$	58,772

Superfund Green, L.P. gross and net unrealized gains and losses by long and short positions as of March 31, 2018 and December 31, 2017:


	As of March 31, 2018
	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 Gains (Losses) on Open Positions
Currency	$	24,407		0.3		$	(42,790	)		(0.6	)	$	2,025		0.0	*	$	(4,999	)		(0.1	)	$	(21,357	)
Financial		161,992		2.1			(13,608	)		(0.2	)		—		—			(10,469	)		(0.1	)		137,915
Food & Fiber		21,137		0.3			(112	)		(0.0	)*		29,103		0.4			(12,487	)		(0.2	)		37,641
Indices		19,713		0.3			(70,038	)		(0.9	)		38,194		0.5			(3,693	)		(0.0	)*		(15,824	)
Metals		9		0.0	*		(85,686	)		(1.1	)		50,715		0.7			(1,394	)		(0.0	)*		(36,356	)
Livestock		—		—			—			—			24,940		0.3			—			—			24,940
Energy		19,579		0.3			(20	)		(0.0	)*		—		0.0	*		(19,715	)		(0.3	)		(156	)

Totals	$	246,837		3.3		$	(212,254	)		(2.8	)	$	144,977		1.9		$	(52,757	)		(0.7	)	$	126,803

*	Due to rounding – amount is less than 0.05%


	As of December 31, 2017
	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
Currency	$	51,395		0.6		$	—			—		$	18,884		0.2		$	(5,224	)		(0.1	)	$	65,055
Financial		5,595		0.1			(62,302	)		(0.7	)		29,936		0.3			(4,437	)		(0.1	)		(31,208	)
Food & Fiber		713		0.0	*		(16,279	)		(0.2	)		36,826		0.4			(37,642	)		(0.4	)		(16,382	)
Indices		102,526		1.2			(24,527	)		(0.3	)		23,260		0.3			(5,075	)		(0.1	)		96,184
Metals		77,460		0.9			—			—			463		0.0	*		(8,281	)		(0.1	)		69,642
Livestock		—		—			—			—			340		0.0	*		—			—			340
Energy		67,127		0.8			—			—			1,730		0.0	*		(38,973	)		(0.4	)		29,884

Totals	$	304,816		3.5		$	(103,108	)		(1.2	)	$	111,439		1.3		$	(99,632	)		(1.2	)	$	213,515

*	Due to rounding – amount is less than 0.05%

Superfund Green L.P. monthly contract volume: For the three months ended March 31, 2018, the monthly average futures and forward contracts bought were 1,418 and the monthly average futures and forward contracts sold were 714. For the three months ended March 31, 2017, the monthly average futures contracts bought was 1,636 and the monthly average futures contracts sold was 741.

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


	For the Three Months Ended March 31, 2018
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	1,687		$	—		$	1,687
Currency		148,611			(86,412	)		62,199
Energy		29,221			(30,038	)		(817	)
Financial		198,328			169,123			367,451
Food & Fiber		(174,776	)		54,022			(120,754	)
Indices		(138,168	)		(112,008	)		(250,176	)
Livestock		(1,940	)		24,600			22,660
Metals		38,554			(105,999	)		(67,445	)

Total net trading gains	$	101,517		$	(86,712	)	$	14,805


	For the Three Months Ended March 31, 2017
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	39,987		$	(13,822	)	$	26,165
Currency		(109,904	)		(14,494	)		(124,398	)
Financial		(21,336	)		(19,083	)		(40,419	)
Food & Fiber		(133,377	)		74,987			(58,390	)
Indices		723,201			15,183			738,384
Metals		65,479			(23,976	)		41,503
Livestock		(58,560	)		47,010			(11,550	)
Energy		(123,949	)		(7,033	)		(130,982	)

Total net trading losses	$	381,541		$	58,772		$	440,313

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 March 31, 2018, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location		Asset Derivatives at March 31, 2018		Liability Derivatives at March 31, 2018			Net
Futures contracts		Futures contracts purchased	$	52,767	$	(48,842	)	$	3,925
Futures contracts		Futures contracts sold		48,522		(12,139	)		36,383

Totals			$	101,289	$	(60,981	)	$	40,308

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, 2017, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at December 31, 2017		Liability Derivatives at December 31, 2017			Net
Futures contracts	Futures contracts purchased	$	79,285	$	(25,178	)	$	54,107
Futures contracts	Futures contracts sold		28,065		(29,848	)		(1,783	)

Totals		$	107,350	$	(55,026	)	$	52,324

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of March 31, 2018 is as follows:


			Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities		Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	36,509	$	—	$	—	$	36,509
INTL FCStone		3,799		—		—		3,799

Totals	$	40,308	$	—	$	—	$	40,308

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2017 is as follows:


			Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities		Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	19,389	$	—	$	—	$	19,389
INTL FCStone		32,935		—		—		32,935

Totals	$	52,324	$	—	$	—	$	52,324

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2018:


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	Realized and change in unrealized loss on futures and forward contracts	$	(571	)	$	—
Futures contracts	Realized and change in unrealized gain on futures and forward contracts		53,345			(12,016	)

Total		$	52,774		$	(12,016	)

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2017:


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	Realized and change in unrealized gain (loss) on futures and forward contracts	$	10,315	$	1,412
Futures contracts	Realized and change in unrealized loss on futures and forward contracts		119,286		11,107

Total		$	129,601	$	12,519

Superfund Green, L.P. – Series A gross and net unrealized gains and losses by long and short positions as of March 31, 2018 and December 31, 2017:


	As of March 31, 2018
	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 Gains (Losses) on Open Positions
Currency	$	2,087		0.1		$	(9,901	)		(0.4	)	$	2,025		0.1	$	(827	)		(0.0	)*	$	(6,616	)
Financial		39,275		1.5			—			(0.0	)*		—		—		(3,641	)		(0.1	)		35,634
Food & Fiber		5,274		0.2			(112	)		(0.0	)*		9,152		0.4		(1,958	)		(0.1	)		12,356
Indices		3,989		0.2			(12,403	)		(0.5	)		13,081		0.5		(509	)		(0.0	)*		4,158
Metals		—		0.0	*		(26,426	)		(1.0	)		19,764		0.8		(594	)		(0.0	)*		(7,256	)
Energy		2,142		0.1			—			(0.0	)*		—		—		(4,610	)		(0.2	)		(2,468	)
Livestock		—		—			—			—			4,500		0.2		—			(0.0	)*		4,500

Totals	$	52,767		2.1		$	(48,843	)		(2.0	)	$	48,522		1.9	$	(12,139	)		(0.4	)	$	40,308

*	Due to rounding – amount is less than 0.05%


	As of December 31, 2017
	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 Gains (Losses) on Open Positions
Currency	$	14,668		0.4		$	—			—		$	4,979		0.2	$	(1,113	)		(0.0	)*	$	18,534
Financial		1,865		0.1			(17,466	)		(0.5	)		8,110		0.2		—			—			(7,491	)
Food & Fiber		237		0.0	*		(4,330	)		(0.1	)		8,673		0.3		(12,523	)		(0.4	)		(7,943	)
Indices		26,872		0.8			(3,382	)		(0.1	)		6,303		0.2		(1,285	)		(0.0	)*		28,508
Metals		19,225		0.6			—			—			—		—		(2,365	)		(0.1	)		16,860
Energy		16,418		0.5			—			—			—		—		(12,562	)		(0.4	)		3,856

Totals	$	79,285		2.4		$	(25,178	)		(0.7	)	$	28,065		0.9	$	(29,848	)		(0.9	)	$	52,324

*	Due to rounding – amount is less than 0.05%

Series A monthly contract volume: For the three months ended March 31, 2018, the monthly average futures and forward contracts bought was 362 and the monthly average futures and forward contracts sold was 198. For the three months ended March 31, 2017, the monthly average futures contracts bought was 493 and the monthly average futures contracts sold was 239.

Series A trading results by market sector:


	For the Three Months Ended March 31, 2018
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	(571	)	$	—		$	(571	)
Currency		46,357			(25,150	)		21,207
Energy		6,113			(6,322	)		(209	)
Financial		52,312			43,125			95,437
Food & Fiber		(53,059	)		20,298			(32,761	)
Indices		(7,548	)		(24,350	)		(31,898	)
Livestock		360			4,500			4,860
Metals		8,810			(24,117	)		(15,307	)

Total net trading gains	$	52,774		$	(12,016	)	$	40,758


	For the Three Months Ended March 31, 2017
	Net Realized Gain (Losses)			Change in Net Unrealized Gain (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	10,315			1,412		$	11,727
Currency		(34,901	)		(1,718	)		(36,619	)
Financial		(4,139	)		(12,009	)		(3,787	)
Food & Fiber		(37,733	)		20,852			(49,742	)
Indices		224,609			(9,424	)		245,461
Metals		11,552			(6,226	)		2,128
Livestock		(20,300	)		19,280			(1,020	)
Energy		(19,802	)		352			(26,028	)

Total net trading gains in Statement of Operations	$	129,601		$	12,519		$	142,120

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 March 31, 2018, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at March 31, 2018		Liability Derivatives at March 31, 2018			Net
Futures contracts	Futures contracts purchased	$	194,070	$	(163,412	)	$	30,658
Futures contracts	Futures contracts sold		96,455		(40,618	)		55,837

Totals		$	290,525	$	(204,030	)	$	86,495

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, 2017, is as follows:


Type of Instrument	Statement of Assets and Liabilities Location	Asset Derivatives at December 31, 2017		Liability Derivatives at December 31, 2017			Net
Futures contracts	Futures contracts purchased	$	225,529	$	(77,928	)	$	147,601
Futures contracts	Futures contracts sold		83,371		(69,781	)		13,590

Totals		$	308,900	$	(147,709	)	$	161,191

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of March 31, 2018 is as follows:


				Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities			Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	96,672		$	—	$	—	$	96,672
INTL FCStone		(10,177	)		—		—		(10,177	)

Totals	$	86,495		$	—	$	—	$	86,495

The Fund’s financial assets, derivative assets and cash collateral held by counterparties as of December 31, 2017 is as follows:


			Gross Amounts Not Offset in the Statement of Assets and Liabilities
Counterparty	Net Amount of Assets in the Statement of Assets and Liabilities		Financial Instruments Pledged		Cash Collateral Received		Net Amount
ADMIS	$	78,942	$	—	$	—	$	78,942
INTL FCStone		82,249		—		—		82,249

Totals	$	161,191	$	—	$	—	$	161,191

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2018:


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	Realized and change in unrealized loss on futures and forward contracts	$	2,258	$	—
Futures contracts	Realized and change in unrealized gain (loss) on futures and forward contracts		46,485		(74,696	)

Total		$	48,743	$	(74,696	)

Effects of Derivative Instruments on the Statement of Operations for the three months ended March 31, 2017:


Derivatives Not Accounted for 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	Realized and change in unrealized loss on futures and forward contracts	$	29,672	$	(15,234	)
Futures contracts	Realized and change in unrealized gain (loss) on futures and forward contracts		222,268		61,487

Total		$	251,940	$	46,253

Superfund Green, L.P. – Series B gross and net unrealized gains and losses by long and short positions as of March 31, 2018 and December 30, 2017:


	As of March 31, 2018
	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 Gains (Losses) on Open Positions
Currency	$	22,320		0.4		$	(32,889	)		(0.7	)	$	—		—	$	(4,172	)		(0.1	)	$	(14,741	)
Financial		122,717		2.4			(13,608	)		(0.3	)		—		—		(6,828	)		(0.1	)		102,281
Food & Fiber		15,863		0.3			—			—			19,951		0.4		(10,529	)		(0.2	)		25,285
Indices		15,724		0.3			(57,635	)		(1.1	)		25,113		0.5		(3,184	)		(0.1	)		(19,982	)
Metals		9		0.0	*		(59,260	)		(1.2	)		30,951		0.6		(800	)		(0.0	)*		(29,100	)
Energy		17,437		0.3			(20	)		(0.0	)*		—		—		(15,105	)		(0.3	)		2,312
Livestock		—		—			—			—			20,440		0.4		—			—			20,440

Totals	$	194,070		3.7		$	(163,412	)		(3.3	)	$	96,455		1.9	$	(40,618	)		(0.8	)	$	86,495

*	Due to rounding – amount is less than 0.05%


	As of December 31, 2017
	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 Gains (Losses) on Open Positions
Currency	$	36,727		0.7		$	—			—		$	13,905		0.3		$	(4,111	)		(0.1	)	$	46,521
Financial		3,730		0.1			(44,836	)		(0.8	)		21,826		0.4			(4,437	)		(0.1	)		(23,717	)
Food & Fiber		474		0.0	*		(11,947	)		(0.2	)		28,150		0.5			(25,116	)		(0.5	)		(8,439	)
Indices		75,654		1.4			(21,145	)		(0.4	)		16,957		0.3			(3,790	)		(0.1	)		67,676
Metals		58,235		1.1			—			—			463		0.0	*		(5,916	)		(0.1	)		52,782
Livestock		—		—			—			—			340		0.0	*		—			—			340
Energy		50,709		0.9			—			—			1,730		0.0	*		(26,411	)		(0.5	)		26,028

Totals	$	225,529		4.2		$	(77,928	)		(1.4	)	$	83,371		1.5		$	(69,781	)		(1.4	)	$	161,191

*	Due to rounding – amount is less than 0.05%

Series B monthly contract volume: For the three months ended March 31, 2018, the monthly average futures and forward contracts bought were 1,056 and the monthly average futures and forward contracts sold were 516. For the three months ended March 31, 2017, the monthly average futures contracts bought was 1,143 and the monthly average futures contracts sold was 502.

Series B trading results by market sector:


	For the Three Months Ended March 31, 2018
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	2,258		$	—		$	2,258
Currency		102,254			(61,262	)		40,992
Energy		23,108			(23,716	)		(608	)
Financial		146,016			125,998			272,014
Food & Fiber		(121,717	)		33,724			(87,993	)
Indices		(130,620	)		(87,658	)		(218,278	)
Livestock		(2,300	)		20,100			17,800
Metals		29,744			(81,882	)		(52,138	)

Total net trading gains	$	48,743		$	(74,696	)	$	(25,953	)


	For the Three Months Ended March 31, 2017
	Net Realized Gains (Losses)			Change in Net Unrealized Gains (Losses)			Net Trading Gains (Losses)
Foreign Exchange	$	29,672		$	(15,234	)	$	14,438
Currency		(75,003	)		(12,776	)		(87,779	)
Financial		(17,197	)		(7,074	)		(24,271	)
Food & Fiber		(95,644	)		54,135			(41,509	)
Indices		498,592			24,607			523,199
Metals		53,927			(17,750	)		36,177
Livestock		(38,260	)		27,730			(10,530	)
Energy		(104,147	)		(7,385	)		(111,532	)

Total net trading gains in Statement of Operation	$	251,940		$	46,253		$	298,193

5.	Due from/to brokers

Due from brokers consists of proceeds from cash and unsettled trades. 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 March 31, 2018 and December 31, 2017, 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.

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), 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, Superfund Brokerage Services, Inc., an affiliate of Superfund Capital Management, serves as the introducing broker for the Fund’s futures transactions and receives a portion of the brokerage commissions paid by the Fund in connection with its futures trading. 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 statements of operations and amounts over the 10% selling commission threshold are rebated to the Limited Partner by purchasing Units of the Fund.

8.	Financial highlights

Financial highlights for the period January 1 through March 31 are as follows:


	2018						2017
	Series A			Series B			Series A			Series B
Total return before incentive fees*		(0.1	)%		(2.7	)%		2.2	%		3.9	%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%

Total return after incentive fees		(0.1	)%		(2.7	)%		2.2	%		3.9	%

Ratios to average partners’ capital**
Operating expenses before incentive fees		(6.4	)%		(6.0	)%		(8.0	)%		(8.8	)%
Incentive fees		0.0	%		0.0	%		0.0	%		0.0	%

Total expenses		(6.4	)%		(6.0	)%		(8.0	)%		(8.8	)%

Net investment loss		(6.4	)%		(6.0	)%		(7.2	)%		(8.4	)%

Net asset value per unit, beginning of period	$	1,099.78		$	1,359.98		$	989.50		$	1,049.01
Net investment loss		(17.39	)		(20.66	)		(18.40	)		(22.03	)
Net gain on investments		11.70			(13.76	)		39.70			62.29

Total income (loss) from operations		(5.69	)		(34.42	)		21.30			40.26

Net asset value per unit, end of period	$	1,094.09		$	1,325.56		$	1,010.80		$	1,089.27

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)	$	(6.39	)	$	(34.05	)	$	22.13		$	40.82

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)	$	(5.69	)	$	(34.42	)	$	21.30		$	40.26

*	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 $391,814 and $265,011, respectively, at March 31, 2018.

For Series A, gross unrealized gains and losses related to exchange-traded futures were $101,289 and $60,981, respectively, at March 31, 2018.

For Series B, gross unrealized gains and losses related to exchange-traded futures were $290,525 and $204,030, respectively, at March 31, 2018.

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.

Credit risk is the possibility that a loss may occur due to the failure of 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 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. and INTL FCStone International.

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 March 31, 2018. However, due to the nature of the Fund’s business, these instruments may not be held to maturity.

10.

Subscriptions and redemptions

Effective May 1, 2014, the Fund no longer accepts subscriptions.

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. In similar cases such sums would be accounted for as cash and redemption payables. As provided in the Partnership Agreement, 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.

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.

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.

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 ended May 1, 2014. 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 March 31, 2018, redemptions totaled $1,074,296. For the quarter ended March 31, 2018, redemptions totaled $737,569 in Series A and $336,727 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.

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 March 31, 2018

Series A:

Net results for the quarter ended March 31, 2018, were a loss of (0.1)% 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 $17,988. This decrease consisted of investment income of $846, trading gains of $31,407 and total expenses of $50,241. Expenses included $15,448 in management fees, $1,253 in operating expenses, $33,401 in selling commissions and $139 in other expenses. At March 31, 2018 and December 31, 2017, the net asset value per Unit of Series A was $1,094.09 and $1,099.78, respectively.

Series B:

Net results for the quarter ended March 31, 2018, were a loss of (2.7)% 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 $132,751. This decrease consisted of investment income of $1,209, trading loss of $52,407 and total expenses of $81,553. Expenses included $24,978 in management fees, $2,025 in operating expenses, $54,006 in selling commissions and $544 in other expenses. At March 31, 2018 and December 31, 2017, the net asset value per Unit of Series B was $1,325.56 and $1,359.98 respectively.

Fund results for 1^st Quarter 2018:

In March, the Fund’s managed futures strategy produced positive returns largely backed by compelling performance in bonds. The fund ‘s exposure in European bonds helped contribute to a notable +1.81% gain, as exponential growth in the Eurozone combined with heightened anxieties surrounding trade war fears pushed bond prices up through most of the month. Agricultural markets were up 0.45% mainly due to performance of short positions in Live Cattle which was driven down by liquidation pressures and later tumbled with Feeder Cattle as a result of classic supply and demand fundamental data. The currency sector managed to end performance up at 0.01% with help from the Yen which strengthened against the Dollar after US attempts to exercise harsh tariffs against China was met with measured retaliation. Stock indices came in as the fund’s worst performer at -0.28% as a result of heightened volatility aided in large part by the hard protectionist measures called forth to be put in place by US President Donald Trump.

In February, the Fund’s managed futures strategy produced negative returns as it underperformed in all major sectors except bonds, to generate overall returns of -5.52%. The fund’s biggest pull-back was in stock indices which ended the month at -4.08%, as global equities dipped after a long-winning run on Wall Street came to an end early in the month. Grains, energy, metals and agriculture markets struggled to make any head-way for the fund with combined returns of -1.97%. Metals prices in particular struggled during the final week of trading, as higher treasury yields propped up the dollar, and erased much of the gains procured during the month. The performance of currencies was down -1.03% this month, with the U.S dollar weighed down on concerns of a weak strategy by Washington, and the strengthening of the yen after news came out that Haruhiko Kuroda’s nomination as BoJ Governor was finally confirmed. Although bonds performed fairly well at 1.56% as its short positions in US Treasuries took advantage of falling prices in the wake of increased government borrowing, it was not enough to move the fund’s performance into positive territory.

In January, the Fund’s managed futures strategy produced positive returns with Stock Indices proving to be the strongest performing sector with returns of 2.90%. From Stock Indices, the Nasdaq and Dow Jones Industrial Average were the strongest performing markets for the fund with returns of 0.80% and 0.75% respectively, as the fund’s positions took advantage in the equity rally due to strong corporate earnings during the holiday season. Currencies, Agricultural Markets, and Energy sectors, all contributed positively to the fund’s performance, with combined returns of 2.05%. The Bonds, Metals, and Grains sectors struggled, as their combined returns of -1.33% eroded some of the funds gains. Of these sectors, positions in the Euro BOBL suffered from declining bond prices on the back of hawkish messages from the ECB. Soybean Meal and NYMEX Platinum faltered, ranking within the bottom performing markets, as the fund’s positions in these markets were adversely affected by their bullish performance in January.

Three Months Ended March 31, 2017

Series A:

Net results for the quarter ended March 31, 2017, were a gain of 2.2% 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 $77,417. This increase consisted of investment income of $4,621, trading gains of $130,000 and total expenses of $57,204. Expenses included $16,758 in management fees, $1,359 in operating expenses, $36,233 in selling commissions and $2,854 in other expenses. At March 31, 2017 and December 31, 2016, the net asset value per Unit of Series A was $1,010.80 and $989.50, respectively.

Series B:

Net results for the quarter ended March 31, 2017, were a gain of 3.9% 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 $193,736. This increase consisted of investment income of $4,715, trading gains of $270,597 and total expenses of $81,576. Expenses included $24,058 in management fees, $1,951 in operating expenses, $52,017 in selling commissions and $3,550 in other expenses. At March 31, 2017 and December 31, 2016, the net asset value per Unit of Series B was $1,089.27 and $1,049.01 respectively.

Fund results for 1^st Quarter 2017:

In March, the Fund’s managed futures strategy produced negative results. The Fund’s positions in the metals sector contributed significantly to negative performance for the month. The Fund’s positions in Comex gold suffered as a result of unfavorable movements in the U.S. dollar. The Fund’s allocation to the bonds sector also yielded negative returns. The Fund’s positions in stock indices helped to offset some of these losses as global stock markets continued to rally.

In February, the Fund’s managed futures strategy yielded strong positive returns, as positions in stock indices and bonds proved to be top performers. The funds long positions in stock indices produced strong gains as U.S. stock indices surged amid investor optimism on tax cuts and regulatory reform. The Fund’s positions in bonds, particularly the Eurex Euro BOBL, benefitted from rising bond prices as geopolitical concerns led investors to safer assets.

In January, the Fund’s managed futures strategy produced positive results. The stock indices sector, particularly long positions in the Nasdaq index, was the strongest performing sector for the Fund. The Fund’s positions in the CBOE Volatility Index and LME Aluminum also yielded strong positive returns. The Fund’s allocation to the bonds sector yielded negative results, as did its positions in NYMEX Rbob Gas and NYMEX Platinum.

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 March 31, 2018 and December 31, 2017.

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 2016-01

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 March 31, 2018 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.

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 March 31, 2018.

(b) 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 March 31, 2018:


Series A:

Month	Units Redeemed		NAV per Unit ($)
January 31, 2018		0.000		1,139.53
February 28, 2018		32.382		1,076.64
March 31, 2018		642.270		1,094.09

		674.652


Series B:

Month	Units Redeemed		NAV per Unit ($)
January 31, 2018		70.129		1,476.81
February 28, 2018		112.448		1,290.53
March 31, 2018		66.416		1,325.56

		248.993

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4.

MINE SAFETY DISCLOSURE

Not applicable.

ITEM 5.

OTHER INFORMATION

None.

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

XBRL information is furnished and not filed for purposes of Sections 11 and 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and is not subject to liability under those sections, is not part of any registration statement or prospectus to which it relates and is not incorporated or deemed to be incorporated by reference into any registration statement, prospectus or other document.

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: May 15, 2018	SUPERFUND GREEN, L.P.
		(Registrant)

	By:	Superfund Capital Management, Inc.
	General Partner

	By:	/s/ Craig Lucas
	Craig Lucas
	Managing Director and Principal Executive Officer

	By:	/s/ Jim Douglas
	Jim Douglas
	Vice Head of Back Office and Principal Financial Officer

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

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