UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] Quarterly report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended September 30, 1999 or
[ ] Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from to
Commission File No. 0-18314
DEAN WITTER PRINCIPAL PLUS FUND L.P.
(Exact name of registrant as specified in its charter)
Delaware 13-3541588
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification
No.)
c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY 10048
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 392-5454
(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 X No
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DEAN WITTER PRINCIPAL PLUS FUND L.P.
INDEX TO QUARTERLY REPORT ON FORM 10-Q
September 30, 1999
<CAPTION>
PART I. FINANCIAL INFORMATION
<S> <C>
Item 1. Consolidated Financial Statements
Consolidated Statements of Financial Condition
September 30, 1999 (Unaudited) and December 31, 1998.......2
Consolidated Statements of Operations for the
Quarters Ended September 30, 1999 and 1998 (Unaudited)....3
Consolidated Statements of Operations for the Nine
Months Ended September 30, 1999 and 1998 (Unaudited).......4
Consolidated Statements of Changes in Partners'
Capital for the Nine Months Ended Sepember 30, 1999 and
1998 (Unaudited).......................................... 5
Consolidated Statements of Cash Flows for the
Nine Months Ended September 30, 1999 and 1998
(Unaudited)................................................6
Notes to Consolidated Financial Statements
(Unaudited).............................................7-12
Item 2. Management's Discussion and Analysis
of Financial Condition and Results of
Operations..................................... 13-23
Item 3. Quantitative and Qualitative Disclosures
about Market Risk...............................23-35
PART II. OTHER INFORMATION
Item 1. Legal Proceedings............................... 36
Item 6. Exhibits and Reports on Form 8-K........
.......... 36
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PART I. FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
DEAN WITTER PRINCIPAL PLUS FUND L.P.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
<CAPTION>
September 30, December 31,
1999 1998
$ $
(Unaudited)
ASSETS
<S> <C> <C>
Equity in futures interests trading accounts:
Cash 7,371,736 9,270,594
Net unrealized gain on open contracts 45,417
1,200,707
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<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
The schedule contains summary financial information extracted from Dean
Witter Principal Plus Fund L.P. and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> SEP-30-1999
<CASH> 7,371,736
<SECURITIES> 41,269,876
<RECEIVABLES> 27,860
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 48,309,513<F1>
<CURRENT-LIABILITIES> 0
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 48,309,513<F2>
<SALES> 0
<TOTAL-REVENUES> (1,137,517)<F3>
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 1,979,409
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (3,023,572)<F4>
<INCOME-TAX> 0
<INCOME-CONTINUING> (3,023,572)<F4>
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,023,572)<F4>
<EPS-BASIC> 0
<EPS-DILUTED> 0
<FN>
<F1>In addition to cash, securities and receivables, total assets include
net unrealized gain on open contracts of $45,417.
<F2>Liabilities include redemptions payable of $1,658,905, accrued
brokerage fee of $161,748, accrued administrative expenses of
$190,552, and accrued management fees of $40,437.
<F3>Total revenue includes realized trading revenue of $371,457, net
change in unrealized of $(1,155,290), interest income of $2,004,436 and
change in valuation of Yield Pool of $(2,358,120).
<F4>Income-Pretax, Income Continuing and Net Income includes minority
interest in loss of $93,354.
</FN>
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