Potomac Futures Fund (POTO) 10-Q 12 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	POTO
Entity Registrant Name	POTOMAC FUTURES FUND LP
Entity Central Index Key	1,043,565
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		16,500.6158

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Assets:
Investment in the Master, at fair value	[1]	$ 26,344,583	$ 27,018,218
Cash at MS&Co.		104,668	137,589
Cash at bank		802
Total assets		26,450,053	27,155,807
Accrued expenses:
Ongoing selling agent fees		44,083	45,260
Management fees		32,891	33,738
General Partner fees		21,928	22,492
Professional fees		92,870	120,019
Redemptions payable to Limited Partners		201,298	173,269
Total liabilities		393,070	394,778
Partners' Capital:
Total partners' capital (net asset value)		26,056,983	26,761,029
Total liabilities and partners' capital		26,450,053	27,155,807
Class A [Member]
Partners' Capital:
General Partner, Class A, 177.1666 and 192.5786 Redeemable Units outstanding at March 31, 2016 and December 31, 2015, respectively		276,264	302,546
Limited Partners, Class A, 16,533.0048 and 16,841.5078 Redeemable Units outstanding at March 31, 2016 and December 31, 2015, respectively		$ 25,780,719	$ 26,458,483
Net asset value per Redeemable Unit, Class A		$ 1,559.35	$ 1,571.03
[1]	Defined in Note 1.

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - Class A [Member] - shares	Mar. 31, 2016	Dec. 31, 2015
General Partner Redeemable Units outstanding	177.1666	192.5786
Limited Partners Redeemable Units outstanding	16,533.0048	16,841.5078

Statements of Income and Expens

Statements of Income and Expenses and Changes in Partners' Capital - USD ($)		Total	Class A [Member]	Limited Partners [Member]	Limited Partners [Member]Class A [Member]	General Partner [Member]
Net gains (losses) on investment in the Master:
Net asset value per Class A Redeemable Unit (16,710.1714 and 17,521.9604 Redeemable Units outstanding at March 31, 2016 and 2015, respectively)					$ 1,676.61
Interest income allocated from the Master		$ 541
Expenses allocated from the Master		66,271
Ongoing selling agent fees		160,667
Management fees		119,981
General Partner fees		79,986
Incentive fees		84,431
Professional fees		42,117
Total expenses		553,453
Net investment loss		(552,912)
Net realized gains (losses) on closed contracts allocated from the Master		3,432,478
Net change in unrealized gains (losses) on open contracts allocated from the Master		(388,516)
Total trading results		3,043,962
Net income (loss)		2,491,050
Subscriptions-Limited Partners		383,092
Redemptions				$ (1,312,490)
Net increase (decrease) in Partners' Capital		1,561,652
Partners' Capital, beginning of period at Dec. 31, 2014		30,242,428
Partners' Capital, end of period at Mar. 31, 2015		31,804,080
Net gains (losses) on investment in the Master:
Net income (loss) per Redeemable Unit, Class A	[1]		$ 138.49
Weighted average Class A Redeemable Units outstanding			17,855.6641
Net asset value per Class A Redeemable Unit (16,710.1714 and 17,521.9604 Redeemable Units outstanding at March 31, 2016 and 2015, respectively)			$ 1,815.10		1,815.10
Net asset value per Class A Redeemable Unit (16,710.1714 and 17,521.9604 Redeemable Units outstanding at March 31, 2016 and 2015, respectively)			1,571.03		1,571.03
Interest income allocated from the Master		13,519
Expenses allocated from the Master		54,306
Ongoing selling agent fees		136,131
Management fees		101,620
General Partner fees		67,748
Professional fees		62,284
Total expenses		422,089
Net investment loss		(408,570)
Net realized gains (losses) on closed contracts allocated from the Master		(570,754)
Net change in unrealized gains (losses) on open contracts allocated from the Master		791,256
Total trading results		220,502
Net income (loss)		(188,068)
Redemptions				$ (490,978)		$ (25,000)
Net increase (decrease) in Partners' Capital		(704,046)
Partners' Capital, beginning of period at Dec. 31, 2015		26,761,029
Partners' Capital, end of period at Mar. 31, 2016		$ 26,056,983
Net gains (losses) on investment in the Master:
Net income (loss) per Redeemable Unit, Class A	[1]		$ (11.68)
Weighted average Class A Redeemable Units outstanding			16,936.7374
Net asset value per Class A Redeemable Unit (16,710.1714 and 17,521.9604 Redeemable Units outstanding at March 31, 2016 and 2015, respectively)			$ 1,559.35		$ 1,559.35
[1]	Represents the change in net asset value per Redeemable Unit during the period.

Statements of Income and Expen5

Statements of Income and Expenses and Changes in Partners' Capital (Parenthetical) - shares	Mar. 31, 2016	Mar. 31, 2015
Class A [Member]
Net asset value per redeemable unit outstanding	16,710.1714	17,521.9604

Organization

Organization	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization: Potomac Futures Fund L.P. (the “Partnership”) is a limited partnership organized on March 14, 1997 under the partnership laws of the State of New York to engage, directly or indirectly, in the speculative trading of a diversified portfolio of commodity interests including futures, option, swap and forward contracts. The sectors traded include currencies, energy, grains, indices, U.S. and non-U.S. interest rates, livestock, metals and softs. The commodity interests that are indirectly traded by the Partnership through its investment in CMF Campbell Master Fund L.P. (the “Master”) are volatile and involve a high degree of market risk. The General Partner (defined below) may also determine to invest up to all of the Partnership’s assets in United States (“U.S.”) Treasury bills and/or money market mutual funds, including money market mutual funds managed by Morgan Stanley or its affiliates. The Partnership was authorized to sell an unlimited number of redeemable units of limited partnership interest (“Redeemable Units”) during its initial offering period. The Partnership privately and continuously offers Redeemable Units in the Partnership to qualified investors. There is no maximum number of Redeemable Units that may be sold by the Partnership. Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (the “General Partner”) and commodity pool operator of the Partnership. The General Partner is wholly owned by Morgan Stanley Smith Barney Holdings LLC (“MSSB Holdings”). MSSB Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial services and other businesses. Prior to June 28, 2013, Morgan Stanley indirectly owned a majority equity interest in MSSB Holdings and Citigroup Inc. indirectly owned a minority interest in MSSB Holdings. Prior to July 31, 2009, the date as of which MSSB Holdings became its owner, the General Partner was wholly owned by Citigroup Financial Products Inc., a wholly owned subsidiary of Citigroup Global Markets Holdings Inc., the sole owner of which is Citigroup Inc. All trading decisions for the Partnership are made by Campbell & Company, Inc. (the “Advisor”). On January 1, 2005, the Partnership allocated substantially all of its capital to the Master, a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 173,788.6446 units of the Master with cash equal to $172,205,653 and a contribution of open commodity futures and forward contracts with a fair value of $1,582,992. The units of the Master are used solely for accounting purposes and do not represent units issued legally. The Master permits accounts managed by the Advisor using the Campbell Managed Futures Portfolio (formerly, Financial, Metal and Energy Large Portfolio), a proprietary, systematic trading program, to invest together in one trading vehicle. The General Partner is also the general partner of the Master. Individual and pooled accounts currently managed by the Advisor, including the Partnership, are permitted to be limited partners of the Master. The General Partner and the Advisor believe that trading through this “master/feeder” structure promotes efficiency and economy in the trading process. Expenses to investors as a result of the investment in the Master are approximately the same as they would be if the Partnership traded directly and redemption rights are not affected. The General Partner is not aware of any material changes to the trading program discussed above during the fiscal quarter ended March 31, 2016. As of March 22, 2016, the Partnership began offering two classes of limited partnership interests, Class A Redeemable Units and Class Z Redeemable Units. All Redeemable Units issued prior to February 29, 2016 were deemed “Class A Redeemable Units.” The rights, liabilities, risks, and fees associated with investment in the Class A Redeemable Units were not changed. Class A Redeemable Units are available to taxable U.S. individuals and institutions, U.S. tax exempt individuals and institutions, and non-U.S. investors. Class Z Redeemable Units may, in the future, be offered to limited partners who receive advisory services from Morgan Stanley Wealth Management and may also be offered to certain employees of Morgan Stanley and/or its subsidiaries (and their family members). Class A Redeemable Units and Class Z Units are identical, except that Class Z Redeemable Units may be subject to reduced ongoing selling agent fees. As of March 31, 2016, there were no Redeemable Units outstanding in Class Z. Generally, a limited partner in the Master withdraws all or part of its capital contribution and undistributed profits, if any, from the Master as of the end of any month (the “Redemption Date”) after a request has been made to the General Partner at least three days in advance of the Redemption Date. Such withdrawals are classified as a liability when the limited partner in the Master elects to redeem and informs the Master. However, a limited partner in the Master may request a withdrawal as of the end of any day if such request is received by the General Partner at least three days in advance of the proposed withdrawal day. During the reporting periods ended March 31, 2016 and 2015, the Partnership’s/Master’s commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. The Partnership/Master also deposit a portion of their cash in a non-trading account at JPMorgan Chase Bank, N.A. As of March 31, 2016 and December 31, 2015, the Partnership owned 100% of the Master. The Partnership intends to continue to invest substantially all of its assets in the Master. The performance of the Partnership is directly affected by the performance of the Master. The Master’s trading of futures, forward, swap and option contracts, if applicable, on commodities is done primarily on U.S. and foreign commodity exchanges. The Master engages in such trading through a commodity brokerage account maintained with MS&Co. The Master’s Statements of Financial Condition, including Condensed Schedules of Investments and Statements of Income and Expenses and Changes in Partners’ Capital, are included herein. The General Partner and each limited partner share in the profits and losses of the Partnership in proportion to the amount of partnership interest owned by each except that no limited partner shall be liable for obligations of the Partnership in excess of its capital contributions and profits, if any, net of distributions or redemptions and losses, if any. The Master has entered into a foreign exchange brokerage account agreement and a futures brokerage account agreement with MS&Co. The Partnership has entered into a futures brokerage account agreement with MS&Co. The Partnership, through its investment in the Master, pays MS&Co. (or will reimburse MS&CO., if previously paid) its allocable share of all trading fees for the clearing and, where applicable, execution of transactions as well as exchange, clearing, user, give-up, floor brokerage and National Futures Association fees (collectively, the “clearing fees”). The Partnership has also entered into a selling agreement with Morgan Stanley Smith Barney LLC (doing business as Morgan Stanley Wealth Management) (“Morgan Stanley Wealth Management”) (as amended, the “Selling Agreement”). Pursuant to the Selling Agreement, Morgan Stanley Wealth Management receives a monthly selling agent fee equal to 2.0% per year of the Partnership’s adjusted month-end net assets for Class A Redeemable Units. Class Z Redeemable Units are not subject to the selling agent fee. The selling agent fee received by Morgan Stanley Wealth Management will be shared with the properly registered/licensed financial advisors of Morgan Stanley Wealth Management who sell redeemable units in the Partnership. In July 2015, the General Partner delegated certain administrative functions to SS&C Technologies, Inc., a Delaware corporation, currently doing business as SS&C GlobeOp (the “Administrator”). Pursuant to a Master Services Agreement, the Administrator furnishes certain administrative, accounting, regulatory, reporting, tax and other services as agreed from time to time. In addition, the Administrator maintains certain books and records of the Partnership. The cost of retaining the Administrator is allocated among the pools operated by the General Partner, including the Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies: The accompanying financial statements and accompanying notes are unaudited but, in the opinion of the General Partner, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Partnership’s financial condition at March 31, 2016, and the results of its operations and changes in partners’ capital for the three months ended March 31, 2016 and 2015. These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. These financial statements should be read together with the financial statements and notes included in the Partnership’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2015. The December 31, 2015 information has been derived from the audited financial statements as of and for the year ended December 31, 2015. The preparation of financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates. Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year. Partnership’s Investment: Master’s Investments: Master’s Cash Master’s Fair Value of Financial Instruments Financial Instruments Investment Company Status Financial Services — Investments Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements Income Taxes: Net Income (Loss) Per Redeemable Unit Financial Services – Investment Companies. Recent Accounting Pronouncement “Recognition and Measurement of Financial Assets and Financial Liabilities.” Reclassification. There have been no material changes with respect to the Partnership’s critical accounting policies as reported in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015. The Master’s Statements of Financial Condition and Condensed Schedules of Investments as of March 31, 2016 and December 31, 2015 and Statements of Income and Expenses and Changes in Partners’ Capital for the three months ended March 31, 2016 and 2015 are presented below: CMF Campbell Master Fund L.P. Statements of Financial Condition (Unaudited) March 31, 2016 December 31, Assets: Equity in trading account: Investment in U.S. Treasury bills, at fair value (amortized cost $11,997,387 and $18,249,423 at March 31, 2016 and December 31, 2015, respectively) $ 11,999,625 $ 18,248,802 Cash at MS&Co. 9,647,924 4,153,914 Cash margin 4,274,442 4,970,934 Net unrealized appreciation on open futures contracts 443,084 - Net unrealized appreciation on open forward contracts 6,063 - Total equity in trading account 26,371,138 27,373,650 Cash at bank 802 - Total assets $ 26,371,940 $ 27,373,650 Liabilities and Partners’ Capital: Liabilities: Net unrealized depreciation on open futures contracts $ - $ 271,180 Net unrealized depreciation on open forward contracts - 71,689 Accrued expenses: Professional fees 29,408 13,349 Total liabilities 29,408 356,218 Partners’ Capital: General Partner, 0.0000 Redeemable Units at March 31, 2016 and December 31, 2015 - - Limited Partner, 12,948.7284 and 13,359.1854 Redeemable Units at March 31, 2016 and December 31, 2015, respectively 26,342,532 27,017,432 Total liabilities and partners’ capital $ 26,371,940 $ 27,373,650 Net asset value per Redeemable Unit $ 2,034.37 $ 2,022.39 CMF Campbell Master Fund L.P. Condensed Schedule of Investments March 31, 2016 (Unaudited) Notional ($)/Number Fair Value % of Partners’ Capital Futures Contracts Purchased Grains 17 $ 6,194 0.02 % Indices 109 17,746 0.06 Interest Rates U.S. 140 115,543 0.44 Interest Rates Non-U.S. 330 229,109 0.87 Livestock 1 (440) (0.00) * Metals 13 7,690 0.03 Softs 30 (27,093) (0.10) * Total futures contracts purchased 348,749 1.32 Futures Contracts Sold Energy 148 41,351 0.16 Grains 149 49,625 0.19 Indices 109 14,201 0.05 Interest Rates U.S. 32 (24,641) (0.09) Interest Rates Non-U.S. 184 (14,851) (0.06) Livestock 18 12,960 0.05 Metals 8 (4,695) (0.02) Softs 25 20,385 0.08 Total futures contracts sold 94,335 0.36 Net unrealized appreciation on open futures contracts $ 443,084 1.68 % Unrealized Appreciation on Open Forward Contracts Currencies $91,096,524 $ 1,614,105 6.12 % Metals 76 70,698 0.27 Total unrealized appreciation on open forward contracts 1,684,803 6.39 Unrealized Depreciation on Open Forward Contracts Currencies $82,515,403 (1,623,515) (6.16) Metals 53 (55,225) (0.21) Total unrealized depreciation on open forward contracts (1,678,740) (6.37) Net unrealized appreciation on open forward contracts $ 6,063 0.02 % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $12,000,000 4/14/2016 U.S. Treasury bills, 0.28% (Amortized cost of $11,997,387) $ 11,999,625 45.55 % * Due to rounding CMF Campbell Master Fund L.P. Condensed Schedule of Investments December 31, 2015 (Unaudited) Notional ($)/Number Fair Value % of Partners’ Capital Futures Contracts Purchased Energy 9 $ 2,402 0.01 % Indices 83 (27,153) (0.10) Interest Rates Non-U.S. 317 (3,835) (0.01) Softs 44 2,001 0.01 Total futures contracts purchased (26,585) (0.09) Futures Contracts Sold Energy 164 (291,838) (1.08) Grains 283 115,368 0.42 Indices 97 (1,764) (0.01) Interest Rates U.S. 156 (1,318) (0.00) * Interest Rates Non-U.S. 156 2,108 0.01 Livestock 25 (52,458) (0.19) Metals 69 22,713 0.08 Softs 12 (37,406) (0.14) Total futures contracts sold (244,595) (0.91) Net unrealized depreciation on open futures contracts $ (271,180) (1.00) % Unrealized Appreciation on Open Forward Contracts Currencies $94,443,179 $ 1,519,936 5.63 % Metals 42 31,777 0.12 Total unrealized appreciation on open forward contracts 1,551,713 5.75 Unrealized Depreciation on Open Forward Contracts Currencies $86,905,702 (1,456,297) (5.39) Metals 159 (167,105) (0.62) Total unrealized depreciation on open forward contracts (1,623,402) (6.01) Net unrealized depreciation on open forward contracts $ (71,689) (0.26) % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $18,250,000 1/21/2016 U.S. Treasury bills, 0.0125% (Amortized cost of $18,249,423) $ 18,248,802 67.54 % * Due to rounding CMF Campbell Master Fund L.P. Statements of Income and Expenses and Changes in Partners’ Capital (Unaudited) Three Months Ended March 31, 2016 2015 Investment Income: Interest income $ 13,519 $ 541 Expenses: Clearing fees 33,783 34,788 Professional fees 20,523 31,483 Total expenses 54,306 66,271 Net investment loss (40,787) (65,730) Trading Results: Net gains (losses) on trading of commodity interests: Net realized gains (losses) on closed contracts (570,754) 3,432,478 Net change in unrealized gains (losses) on open contracts 791,256 (388,516) Total trading results 220,502 3,043,962 Net income (loss) 179,715 2,978,232 Subscriptions—Limited Partner - 383,092 Redemptions—Limited Partner (849,023) (1,984,021) Distribution of interest income to feeder fund (5,592) (541) Net increase (decrease) in Partners’ Capital (674,900) 1,376,762 Partners’ Capital, beginning of period 27,017,432 30,700,652 Partners’ Capital, end of period $ 26,342,532 $ 32,077,414 Net asset value per Redeemable Unit (12,948.7284 and 14,286.7062 Redeemable Units outstanding at March 31, 2016 and 2015, respectively) $ 2,034.37 $ 2,245.26 Net income (loss) per Redeemable Unit* $ 12.41 $ 202.88 Weighted average Redeemable Units outstanding 13,218.9469 14,893.0821 * Represents the change in net asset value per Redeemable Unit during the period before distribution of interest income to feeder fund.

Financial Highlights

Financial Highlights	3 Months Ended
	Mar. 31, 2016
Text Block [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2016 and 2015 were as follows: Class A Three Months Ended March 31, 2016 2015 Per Redeemable Unit Performance (for a unit outstanding throughout the period): (1) Net realized and unrealized gains (losses) allocated from the Master $ 12.44 $ 169.56 Net investment loss (24.12) (31.07) Increase (decrease) for the period (11.68) 138.49 Net asset value per Redeemable Unit, beginning of period 1,571.03 1,676.61 Net asset value per Redeemable Unit, end of period $ 1,559.35 $ 1,815.10 Three Months Ended March 31, 2016 2015 Ratios to Average Limited Partners’ Capital: (2) Net investment loss (3) (6.1) % (6.4) % Operating expenses 6.3 % 6.1 % Incentive fees - % 0.3 % Total expenses 6.3 % 6.4 % Total return: Total return before incentive fees (0.7) % 8.6 % Incentive fees - % (0.3) % Total return after incentive fees (0.7) % 8.3 % (1) Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. (2) Annualized (other than incentive fees). (3) Interest income allocated from the Master less total expenses. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and includes the income and expenses allocated from the Master. Financial Highlights of the Master: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2016 and 2015 were as follows: Three Months Ended March 31, 2016 2015 Per Redeemable Unit Performance (for unit oustanding throughout the period): (1) Net realized and unrealized gains (losses) $ 15.53 $ 207.38 Net investment loss (3.12) (4.50) Increase (decrease) for the period 12.41 202.88 Distribution of interest income to feeder fund (0.43) (0.03) Net asset value per Redeemable Unit, beginning of period 2,022.39 2,042.41 Net asset value per Redeemable Unit, end of period $ 2,034.37 $ 2,245.26 Three Months Ended March 31, 2016 2015 Ratios to Average Limited Partners’ Capital: (2) Net investment loss (3) (0.6) % (0.8) % Operating expenses 0.8 % 0.9 % Total return 0.6 % 9.9 % (1) Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. (2) Annualized. (3) Interest income less total expenses

Trading Activities

Trading Activities	3 Months Ended
	Mar. 31, 2016
Brokers and Dealers [Abstract]
Trading Activities	4. Trading Activities: The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity interests. The Partnership invests substantially all of its assets through a “master/feeder” structure. The Partnership’s pro-rata share of the results of the Master’s trading activities is shown in the Statements of Income and Expenses and Changes in Partners’ Capital. The futures brokerage account agreements with MS&Co. give the Partnership and the Master the legal right to net unrealized gains and losses on open futures and on open forward contracts. The Master nets, for financial reporting purposes, the unrealized gains and losses on open futures and on open forward contracts in the Statements of Financial Condition as the criteria under Accounting Standards Codification 210-20, “ Balance Sheet Trading and transaction fees are based on the number of trades executed by the Advisor and the Partnership’s percent ownership of the Master. All clearing fees are borne by the Master and allocated to the Partnership, and also directly charged at the Partnership level. All other fees are charged at the Partnership level. All of the commodity interests owned by the Master are held for trading purposes. The monthly average number of futures contracts traded during the three months ended March 31, 2016 and 2015 were 1,140 and 1,604, respectively. The monthly average number of metals forward contracts traded during the three months ended March 31, 2016 and 2015 were 303 and 412, respectively. The monthly average notional values of currency forward contracts held during the three months ended March 31, 2016 and 2015 were $287,000,698 and $351,428,637, respectively. The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Master’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of March 31, 2016 and December 31, 2015, respectively. Gross Amounts Amounts Gross Amounts Not Offset in the Statements of Financial Condition March 31, 2016 Gross Amounts Statements of Statements of Financial Collateral Net Amount Assets: Futures $ 688,758 $ (245,674) $ 443,084 $ - $ - $ 443,084 Forwards 1,684,803 (1,678,740) 6,063 - - 6,063 Total assets $ 2,373,561 $ (1,924,414) $ 449,147 $ - $ - $ 449,147 Liabilities: Futures $ (245,674) $ 245,674 $ - $ - $ - $ - Forwards (1,678,740) 1,678,740 - - - - Total liabilites $ (1,924,414) $ 1,924,414 $ - $ - $ - $ - Net fair value $ 449,147 * Gross Amounts Amounts Gross Amounts Not Offset in the Statements of Financial Condition December 31, 2015 Gross Amounts Statements of Statements of Financial Collateral Net Amount Assets: Futures $ 325,660 $ (325,660) $ - $ - $ - $ - Forwards 1,551,713 (1,551,713) - - - - Total assets $ 1,877,373 $ (1,877,373) $ - $ - $ - $ - Liabilities: Futures $ (596,840) $ 325,660 $ (271,180) $ - $ - $ (271,180) Forwards (1,623,402) 1,551,713 (71,689) - - (71,689) Total liabilites $ (2,220,242) $ 1,877,373 $ (342,869) $ - $ - $ (342,869) Net fair value $ (342,869) * * In the event of default by the Master, MS&Co., the Master’s commodity futures broker and the sole counterparty to the Master’s off exchange-traded contracts, as applicable, has the right to offset the Master’s obligation with the Master’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Master is exposed to the amount shown in the Master’s Statements of Financial Condition. In the case of exchange-traded contracts, the Master’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default. The following tables indicate the gross fair values of derivative instruments of futures and forward contracts as separate assets and liabilities as of March 31, 2016 and December 31, 2015. Assets March 31, 2016 Futures Contracts Energy $ 68,572 Grains 86,029 Indices 121,556 Interest Rates U.S. 115,543 Interest Rates Non-U.S. 249,392 Livestock 13,660 Metals 11,150 Softs 22,856 Total unrealized appreciation on open futures contracts 688,758 Liabilities Futures Contracts Energy (27,221) Grains (30,210) Indices (89,609) Interest Rates U.S. (24,641) Interest Rates Non-U.S. (35,134) Livestock (1,140) Metals (8,155) Softs (29,564) Total unrealized depreciation on open futures contracts (245,674) Net unrealized appreciation on open futures contracts $ 443,084 * Assets Forward Contracts Currencies $ 1,614,105 Metals 70,698 Total unrealized appreciation on open forward contracts 1,684,803 Liabilities Forward Contracts Currencies (1,623,515) Metals (55,225) Total unrealized depreciation on open forward contracts (1,678,740) Net unrealized appreciation on open forward contracts $ 6,063 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Master’s Statements of Financial Condition. Assets December 31, 2015 Futures Contracts Energy $ 58,972 Grains 117,568 Indices 28,068 Interest Rates U.S. 15,680 Interest Rates Non-U.S. 67,737 Livestock 50 Metals 31,773 Softs 5,812 Total unrealized appreciation on open futures contracts 325,660 Liabilities Futures Contracts Energy (348,408) Grains (2,200) Indices (56,985) Interest Rates U.S. (16,998) Interest Rates Non-U.S. (69,464) Livestock (52,508) Metals (9,060) Softs (41,217) Total unrealized depreciation on open futures contracts (596,840) Net unrealized depreciation on open futures contracts $ (271,180) * Assets Forward Contracts Currencies $ 1,519,936 Metals 31,777 Total unrealized appreciation on open forward contracts 1,551,713 Liabilities Forward Contracts Currencies (1,456,297) Metals (167,105) Total unrealized depreciation on open forward contracts (1,623,402) Net unrealized depreciation on open forward contracts $ (71,689) ** * This amount is in “Net unrealized depreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized depreciation on open forward contracts” in the Master’s Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments for the three months ended March 31, 2016 and 2015. Three Months Ended March 31 Sector 2016 2015 Currencies $ 342,371 $ 937,463 Energy 167,412 36,824 Grains (154,518) (48,323) Indices (267,182) 880,997 Interest Rates U.S. (75,775) 264,010 Interest Rates Non-U.S. 814,478 828,901 Livestock (34,698) (38,830) Metals (381,616) (109,772) Softs (189,970) 292,692 Total $ 220,502 * $ 3,043,962 * * This amount is in “Total trading results” in the Master’s Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Master’s Fair Value Measurements. The fair value of exchange-traded futures, option and forward contracts is determined by the various exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as inputs the spot prices, interest rates, and option implied volatilities quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period. U.S. Treasury bills are valued at the last available bid price received from independent pricing services as of the close of the last business day of the reporting period. The Master considers prices for exchange-traded commodity futures, forward, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of U.S. Treasury bills, non-exchange-traded forward, swap and certain option contracts for which market quotations are not readily available are priced by broker quotes or pricing services that derive fair values for those assets and liabilities from observable inputs (Level 2). As of March 31, 2016 and December 31, 2015 and for the periods ended March 31, 2016 and 2015, the Master did not hold any derivative instruments that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). Transfers between levels are recognized at the end of the reporting period. During the reporting periods, there were no transfers of assets or liabilities between Level 1 and Level 2. March 31, 2016 Total Level 1 Level 2 Level 3 Assets Futures $ 688,758 $ 688,758 $ - $ - Forwards 1,684,803 70,698 1,614,105 - U.S. Treasury bills 11,999,625 - 11,999,625 - Total assets $ 14,373,186 $ 759,456 $ 13,613,730 $ - Liabilities Futures $ 245,674 $ 245,674 $ - $ - Forwards 1,678,740 55,225 1,623,515 - Total liabilities $ 1,924,414 $ 300,899 $ 1,623,515 $ - December 31, 2015 Total Level 1 Level 2 Level 3 Assets Futures $ 325,660 $ 325,660 $ - $ - Forwards 1,551,713 31,777 1,519,936 - U.S. Treasury bills 18,248,802 - 18,248,802 - Total assets $ 20,126,175 $ 357,437 $ 19,768,738 $ - Liabilities Futures $ 596,840 $ 596,840 $ - $ - Forwards 1,623,402 167,105 1,456,297 - Total liabilities $ 2,220,242 $ 763,945 $ 1,456,297 $ -

Financial Instrument Risks

Financial Instrument Risks	3 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
Financial Instrument Risks	6. Financial Instrument Risks: In the normal course of business, the Partnership, through its investment in the Master, is party to financial instruments with off-balance-sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include forwards, futures, options and swaps, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, or to purchase or sell other financial instruments at specific terms at specified 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, a swap execution facility or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, option and swap contracts. Certain swap contracts may also be traded on a swap execution facility or OTC. OTC contracts are negotiated between contracting parties and also include certain forward and option contracts. Specific market movements of commodities or futures contracts underlying an option cannot be accurately predicted. The purchaser of an option may lose the entire premium paid for the option. The writer or seller of an option has unlimited risk. 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. The General Partner estimates that at any given time approximately 6.9% to 40.2% of the Partnership’s/Master’s contracts are traded OTC. Futures Contracts. Forward Foreign Currency Contracts. London Metals Exchange Forward Contracts. The Master 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 total trading results in the Master’s Statements of Income and Expenses and Changes in Partners’ Capital. The risk to the limited partners that have purchased Redeemable Units is limited to the amount of their share of the Partnership’s net assets and undistributed profits. This limited liability is a result of the organization of the Partnership as a limited partnership under New York law. Market risk is the potential for changes in the value of the financial instruments traded by the Partnership/Master due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. Market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are traded. The Partnership/Master is exposed to a market risk equal to the value of futures and forward contracts purchased and unlimited liability on such contracts sold short. Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. The Partnership’s/Master’s risk of loss in the event of a counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and is not represented by the contract or notional amounts of the instruments. The Partnership’s/Master’s risk of loss is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership/Master to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership/Master has credit risk and concentration risk, as MS&Co. or an MS&Co. affiliate is the sole counterparty or broker with respect to the Partnership’s/Master’s assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through MS&Co. or an MS&Co. affiliate, the Partnership’s/Master’s counterparty is an exchange or clearing organization. The General Partner monitors and attempts to control the Partnership’s/Master’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 Partnership/Master may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk-adjusted performance indicators and correlation statistics. In addition, online monitoring systems provide account analysis of futures, forwards and options positions by sector, margin requirements, gain and loss transactions and collateral positions. The majority of these financial instruments mature within one year of the inception date. However, due to the nature of the Partnership’s/Master’s business, these instruments may not be held to maturity.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	7. Subsequent Events The General Partner evaluates events that occur after the balance sheet date but before financial statements are issued. The General Partner has assessed the subsequent events through the date of issuance and determined that there were no subsequent events requiring adjustment to or disclosure in the financial statements.

Basis of Presentation and Sum13

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Partnership's Investment	Partnership’s Investment:
Master's Investments	Master’s Investments:
Master's Cash	Master’s Cash
Master's Fair Value of Financial Instruments	Master’s Fair Value of Financial Instruments Financial Instruments
Investment Company Status	Investment Company Status Financial Services — Investments Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements
Income Taxes	Income Taxes:
Net Income (Loss) Per Redeemable Unit	Net Income (Loss) Per Redeemable Unit Financial Services – Investment Companies.
Recent Accounting Pronouncement	Recent Accounting Pronouncement “Recognition and Measurement of Financial Assets and Financial Liabilities.”
Reclassification	Reclassification.

Basis of Presentation and Sum14

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Statements of Financial Condition	CMF Campbell Master Fund L.P. Statements of Financial Condition (Unaudited) March 31, 2016 December 31, Assets: Equity in trading account: Investment in U.S. Treasury bills, at fair value (amortized cost $11,997,387 and $18,249,423 at March 31, 2016 and December 31, 2015, respectively) $ 11,999,625 $ 18,248,802 Cash at MS&Co. 9,647,924 4,153,914 Cash margin 4,274,442 4,970,934 Net unrealized appreciation on open futures contracts 443,084 - Net unrealized appreciation on open forward contracts 6,063 - Total equity in trading account 26,371,138 27,373,650 Cash at bank 802 - Total assets $ 26,371,940 $ 27,373,650 Liabilities and Partners’ Capital: Liabilities: Net unrealized depreciation on open futures contracts $ - $ 271,180 Net unrealized depreciation on open forward contracts - 71,689 Accrued expenses: Professional fees 29,408 13,349 Total liabilities 29,408 356,218 Partners’ Capital: General Partner, 0.0000 Redeemable Units at March 31, 2016 and December 31, 2015 - - Limited Partner, 12,948.7284 and 13,359.1854 Redeemable Units at March 31, 2016 and December 31, 2015, respectively 26,342,532 27,017,432 Total liabilities and partners’ capital $ 26,371,940 $ 27,373,650 Net asset value per Redeemable Unit $ 2,034.37 $ 2,022.39
Condensed Schedule of Investments	CMF Campbell Master Fund L.P. Condensed Schedule of Investments March 31, 2016 (Unaudited) Notional ($)/Number Fair Value % of Partners’ Capital Futures Contracts Purchased Grains 17 $ 6,194 0.02 % Indices 109 17,746 0.06 Interest Rates U.S. 140 115,543 0.44 Interest Rates Non-U.S. 330 229,109 0.87 Livestock 1 (440) (0.00) * Metals 13 7,690 0.03 Softs 30 (27,093) (0.10) * Total futures contracts purchased 348,749 1.32 Futures Contracts Sold Energy 148 41,351 0.16 Grains 149 49,625 0.19 Indices 109 14,201 0.05 Interest Rates U.S. 32 (24,641) (0.09) Interest Rates Non-U.S. 184 (14,851) (0.06) Livestock 18 12,960 0.05 Metals 8 (4,695) (0.02) Softs 25 20,385 0.08 Total futures contracts sold 94,335 0.36 Net unrealized appreciation on open futures contracts $ 443,084 1.68 % Unrealized Appreciation on Open Forward Contracts Currencies $91,096,524 $ 1,614,105 6.12 % Metals 76 70,698 0.27 Total unrealized appreciation on open forward contracts 1,684,803 6.39 Unrealized Depreciation on Open Forward Contracts Currencies $82,515,403 (1,623,515) (6.16) Metals 53 (55,225) (0.21) Total unrealized depreciation on open forward contracts (1,678,740) (6.37) Net unrealized appreciation on open forward contracts $ 6,063 0.02 % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $12,000,000 4/14/2016 U.S. Treasury bills, 0.28% (Amortized cost of $11,997,387) $ 11,999,625 45.55 % * Due to rounding CMF Campbell Master Fund L.P. Condensed Schedule of Investments December 31, 2015 (Unaudited) Notional ($)/Number Fair Value % of Partners’ Capital Futures Contracts Purchased Energy 9 $ 2,402 0.01 % Indices 83 (27,153) (0.10) Interest Rates Non-U.S. 317 (3,835) (0.01) Softs 44 2,001 0.01 Total futures contracts purchased (26,585) (0.09) Futures Contracts Sold Energy 164 (291,838) (1.08) Grains 283 115,368 0.42 Indices 97 (1,764) (0.01) Interest Rates U.S. 156 (1,318) (0.00) * Interest Rates Non-U.S. 156 2,108 0.01 Livestock 25 (52,458) (0.19) Metals 69 22,713 0.08 Softs 12 (37,406) (0.14) Total futures contracts sold (244,595) (0.91) Net unrealized depreciation on open futures contracts $ (271,180) (1.00) % Unrealized Appreciation on Open Forward Contracts Currencies $94,443,179 $ 1,519,936 5.63 % Metals 42 31,777 0.12 Total unrealized appreciation on open forward contracts 1,551,713 5.75 Unrealized Depreciation on Open Forward Contracts Currencies $86,905,702 (1,456,297) (5.39) Metals 159 (167,105) (0.62) Total unrealized depreciation on open forward contracts (1,623,402) (6.01) Net unrealized depreciation on open forward contracts $ (71,689) (0.26) % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $18,250,000 1/21/2016 U.S. Treasury bills, 0.0125% (Amortized cost of $18,249,423) $ 18,248,802 67.54 % * Due to rounding
Statements of Income and Expenses and Changes in Partners' Capital	CMF Campbell Master Fund L.P. Statements of Income and Expenses and Changes in Partners’ Capital (Unaudited) Three Months Ended March 31, 2016 2015 Investment Income: Interest income $ 13,519 $ 541 Expenses: Clearing fees 33,783 34,788 Professional fees 20,523 31,483 Total expenses 54,306 66,271 Net investment loss (40,787) (65,730) Trading Results: Net gains (losses) on trading of commodity interests: Net realized gains (losses) on closed contracts (570,754) 3,432,478 Net change in unrealized gains (losses) on open contracts 791,256 (388,516) Total trading results 220,502 3,043,962 Net income (loss) 179,715 2,978,232 Subscriptions—Limited Partner - 383,092 Redemptions—Limited Partner (849,023) (1,984,021) Distribution of interest income to feeder fund (5,592) (541) Net increase (decrease) in Partners’ Capital (674,900) 1,376,762 Partners’ Capital, beginning of period 27,017,432 30,700,652 Partners’ Capital, end of period $ 26,342,532 $ 32,077,414 Net asset value per Redeemable Unit (12,948.7284 and 14,286.7062 Redeemable Units outstanding at March 31, 2016 and 2015, respectively) $ 2,034.37 $ 2,245.26 Net income (loss) per Redeemable Unit* $ 12.41 $ 202.88 Weighted average Redeemable Units outstanding 13,218.9469 14,893.0821 * Represents the change in net asset value per Redeemable Unit during the period before distribution of interest income to feeder fund.

Financial Highlights (Tables)

Financial Highlights (Tables)	3 Months Ended
	Mar. 31, 2016
Text Block [Abstract]
Financial Highlights for Limited Partner Class	Financial highlights for the limited partner class as a whole for the three months ended March 31, 2016 and 2015 were as follows: Class A Three Months Ended March 31, 2016 2015 Per Redeemable Unit Performance (for a unit outstanding throughout the period): (1) Net realized and unrealized gains (losses) allocated from the Master $ 12.44 $ 169.56 Net investment loss (24.12) (31.07) Increase (decrease) for the period (11.68) 138.49 Net asset value per Redeemable Unit, beginning of period 1,571.03 1,676.61 Net asset value per Redeemable Unit, end of period $ 1,559.35 $ 1,815.10 Three Months Ended March 31, 2016 2015 Ratios to Average Limited Partners’ Capital: (2) Net investment loss (3) (6.1) % (6.4) % Operating expenses 6.3 % 6.1 % Incentive fees - % 0.3 % Total expenses 6.3 % 6.4 % Total return: Total return before incentive fees (0.7) % 8.6 % Incentive fees - % (0.3) % Total return after incentive fees (0.7) % 8.3 % (1) Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. (2) Annualized (other than incentive fees). (3) Interest income allocated from the Master less total expenses. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and includes the income and expenses allocated from the Master. Financial Highlights of the Master: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2016 and 2015 were as follows: Three Months Ended March 31, 2016 2015 Per Redeemable Unit Performance (for unit oustanding throughout the period): (1) Net realized and unrealized gains (losses) $ 15.53 $ 207.38 Net investment loss (3.12) (4.50) Increase (decrease) for the period 12.41 202.88 Distribution of interest income to feeder fund (0.43) (0.03) Net asset value per Redeemable Unit, beginning of period 2,022.39 2,042.41 Net asset value per Redeemable Unit, end of period $ 2,034.37 $ 2,245.26 Three Months Ended March 31, 2016 2015 Ratios to Average Limited Partners’ Capital: (2) Net investment loss (3) (0.6) % (0.8) % Operating expenses 0.8 % 0.9 % Total return 0.6 % 9.9 % (1) Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. (2) Annualized. (3) Interest income less total expenses

Trading Activities (Tables)

Trading Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Brokers and Dealers [Abstract]
Summary of Valuation of Master's Investments	The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Master’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of March 31, 2016 and December 31, 2015, respectively. Gross Amounts Amounts Gross Amounts Not Offset in the Statements of Financial Condition March 31, 2016 Gross Amounts Statements of Statements of Financial Collateral Net Amount Assets: Futures $ 688,758 $ (245,674) $ 443,084 $ - $ - $ 443,084 Forwards 1,684,803 (1,678,740) 6,063 - - 6,063 Total assets $ 2,373,561 $ (1,924,414) $ 449,147 $ - $ - $ 449,147 Liabilities: Futures $ (245,674) $ 245,674 $ - $ - $ - $ - Forwards (1,678,740) 1,678,740 - - - - Total liabilites $ (1,924,414) $ 1,924,414 $ - $ - $ - $ - Net fair value $ 449,147 * Gross Amounts Amounts Gross Amounts Not Offset in the Statements of Financial Condition December 31, 2015 Gross Amounts Statements of Statements of Financial Collateral Net Amount Assets: Futures $ 325,660 $ (325,660) $ - $ - $ - $ - Forwards 1,551,713 (1,551,713) - - - - Total assets $ 1,877,373 $ (1,877,373) $ - $ - $ - $ - Liabilities: Futures $ (596,840) $ 325,660 $ (271,180) $ - $ - $ (271,180) Forwards (1,623,402) 1,551,713 (71,689) - - (71,689) Total liabilites $ (2,220,242) $ 1,877,373 $ (342,869) $ - $ - $ (342,869) Net fair value $ (342,869) * * In the event of default by the Master, MS&Co., the Master’s commodity futures broker and the sole counterparty to the Master’s off exchange-traded contracts, as applicable, has the right to offset the Master’s obligation with the Master’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Master is exposed to the amount shown in the Master’s Statements of Financial Condition. In the case of exchange-traded contracts, the Master’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default.
Gross Fair Values of Derivative Instruments of Futures and Forward Contracts as Separate Assets and Liabilities	The following tables indicate the gross fair values of derivative instruments of futures and forward contracts as separate assets and liabilities as of March 31, 2016 and December 31, 2015. Assets March 31, 2016 Futures Contracts Energy $ 68,572 Grains 86,029 Indices 121,556 Interest Rates U.S. 115,543 Interest Rates Non-U.S. 249,392 Livestock 13,660 Metals 11,150 Softs 22,856 Total unrealized appreciation on open futures contracts 688,758 Liabilities Futures Contracts Energy (27,221) Grains (30,210) Indices (89,609) Interest Rates U.S. (24,641) Interest Rates Non-U.S. (35,134) Livestock (1,140) Metals (8,155) Softs (29,564) Total unrealized depreciation on open futures contracts (245,674) Net unrealized appreciation on open futures contracts $ 443,084 * Assets Forward Contracts Currencies $ 1,614,105 Metals 70,698 Total unrealized appreciation on open forward contracts 1,684,803 Liabilities Forward Contracts Currencies (1,623,515) Metals (55,225) Total unrealized depreciation on open forward contracts (1,678,740) Net unrealized appreciation on open forward contracts $ 6,063 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Master’s Statements of Financial Condition. Assets December 31, 2015 Futures Contracts Energy $ 58,972 Grains 117,568 Indices 28,068 Interest Rates U.S. 15,680 Interest Rates Non-U.S. 67,737 Livestock 50 Metals 31,773 Softs 5,812 Total unrealized appreciation on open futures contracts 325,660 Liabilities Futures Contracts Energy (348,408) Grains (2,200) Indices (56,985) Interest Rates U.S. (16,998) Interest Rates Non-U.S. (69,464) Livestock (52,508) Metals (9,060) Softs (41,217) Total unrealized depreciation on open futures contracts (596,840) Net unrealized depreciation on open futures contracts $ (271,180) * Assets Forward Contracts Currencies $ 1,519,936 Metals 31,777 Total unrealized appreciation on open forward contracts 1,551,713 Liabilities Forward Contracts Currencies (1,456,297) Metals (167,105) Total unrealized depreciation on open forward contracts (1,623,402) Net unrealized depreciation on open forward contracts $ (71,689) ** * This amount is in “Net unrealized depreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized depreciation on open forward contracts” in the Master’s Statements of Financial Condition.
Trading Gains and Losses, by Market Sector, on Derivative Instruments	The following table indicates the trading gains and losses, by market sector, on derivative instruments for the three months ended March 31, 2016 and 2015. Three Months Ended March 31 Sector 2016 2015 Currencies $ 342,371 $ 937,463 Energy 167,412 36,824 Grains (154,518) (48,323) Indices (267,182) 880,997 Interest Rates U.S. (75,775) 264,010 Interest Rates Non-U.S. 814,478 828,901 Livestock (34,698) (38,830) Metals (381,616) (109,772) Softs (189,970) 292,692 Total $ 220,502 * $ 3,043,962 * * This amount is in “Total trading results” in the Master’s Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Derivative Instrument Fair Value Based on Hierarchy	March 31, 2016 Total Level 1 Level 2 Level 3 Assets Futures $ 688,758 $ 688,758 $ - $ - Forwards 1,684,803 70,698 1,614,105 - U.S. Treasury bills 11,999,625 - 11,999,625 - Total assets $ 14,373,186 $ 759,456 $ 13,613,730 $ - Liabilities Futures $ 245,674 $ 245,674 $ - $ - Forwards 1,678,740 55,225 1,623,515 - Total liabilities $ 1,924,414 $ 300,899 $ 1,623,515 $ - December 31, 2015 Total Level 1 Level 2 Level 3 Assets Futures $ 325,660 $ 325,660 $ - $ - Forwards 1,551,713 31,777 1,519,936 - U.S. Treasury bills 18,248,802 - 18,248,802 - Total assets $ 20,126,175 $ 357,437 $ 19,768,738 $ - Liabilities Futures $ 596,840 $ 596,840 $ - $ - Forwards 1,623,402 167,105 1,456,297 - Total liabilities $ 2,220,242 $ 763,945 $ 1,456,297 $ -

Organization - Additional Infor

Organization - Additional Information (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Jan. 01, 2005	Mar. 31, 2016
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Partnership owned	100.00%	100.00%
Class Z [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Redeemable units outstanding	0			0
Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ongoing selling agent fee				2.00%
CMF Campbell Master Fund L.P. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Units of Partnership purchased			173,788.6446
Cash equal, Partnership purchased			$ 172,205,653
Fair value, Partnership purchased			$ 1,582,992

Basis of Presentation and Sum19

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash denominated in foreign currencies	$ 29,833	$ 302,271
Cost of foreign currencies	29,764	$ 302,962
Provision for income tax	$ 0

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Financial Condition (Detail) - USD ($)		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $11,997,387 and $18,249,423 at March 31, 2016 and December 31, 2015, respectively)	[1]	$ 26,344,583	$ 27,018,218
Cash at MS&Co.		104,668	137,589
Cash at bank		802
Total assets		26,450,053	27,155,807
Accrued expenses:
Professional fees		92,870	120,019
Total liabilities		393,070	394,778
Partners' Capital:
Total liabilities and partners' capital		26,450,053	27,155,807
Futures [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on investments		443,084	(271,180)
Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on investments		6,063	(71,689)
CMF Campbell Master Fund L.P. [Member]
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $11,997,387 and $18,249,423 at March 31, 2016 and December 31, 2015, respectively)		11,999,625	18,248,802
Cash at MS&Co.		9,647,924	4,153,914
Cash margin		4,274,442	4,970,934
Total equity in trading account		26,371,138	27,373,650
Cash at bank		802
Total assets		26,371,940	27,373,650
Accrued expenses:
Professional fees		29,408	13,349
Total liabilities		29,408	356,218
Partners' Capital:
General Partner, 0.0000 Redeemable Units at March 31, 2016 and December 31, 2015		0	0
Limited Partner, 12,948.7284 and 13,359.1854 Redeemable Units at March 31, 2016 and December 31, 2015, respectively		26,342,532	27,017,432
Total liabilities and partners' capital		$ 26,371,940	$ 27,373,650
Net asset value per Redeemable Unit		$ 2,034.37	$ 2,022.39	$ 2,245.26	$ 2,042.41
CMF Campbell Master Fund L.P. [Member] | Futures [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on investments		$ 443,084	$ (271,180)
CMF Campbell Master Fund L.P. [Member] | Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on investments		$ 6,063	$ (71,689)
[1]	Defined in Note 1.

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Financial Condition (Parenthetical) (Detail) - CMF Campbell Master Fund L.P. [Member] - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Investment in U.S. Treasury bills, cost	$ 11,997,387	$ 18,249,423
General Partner, unit equivalents	0	0
Limited Partners, units outstanding	12,948.7284	13,359.1854

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies - Condensed Schedule of Investments (Detail)		3 Months Ended	12 Months Ended
		Mar. 31, 2016USD ($)Derivative	Dec. 31, 2015USD ($)Derivative
Schedule of Investments [Line Items]
Investment, Fair Value	[1]	$ 26,344,583	$ 27,018,218
Forward Contracts [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		6,063	(71,689)
Futures [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		443,084	(271,180)
CMF Campbell Master Fund L.P. [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		11,999,625	18,248,802
CMF Campbell Master Fund L.P. [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 6,063	$ (71,689)
Percentage of Partners' Capital		0.02%	0.26%
CMF Campbell Master Fund L.P. [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open futures/forward contracts		$ 70,698	$ 31,777
Net unrealized depreciation on futures/forward contracts		(55,225)	(167,105)
CMF Campbell Master Fund L.P. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 443,084	$ (271,180)
Percentage of Partners' Capital		1.68%	(1.00%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 348,749	$ (26,585)
Percentage of Partners' Capital		1.32%	(0.09%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		13
Investment in Master, at fair value		$ 7,690
Percentage of Partners' Capital		0.03%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		17
Investment in Master, at fair value		$ 6,194
Percentage of Partners' Capital		0.02%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Indices [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		109	83
Investment in Master, at fair value		$ 17,746	$ (27,153)
Percentage of Partners' Capital		0.06%	(0.10%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Interest Rates U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		140
Investment in Master, at fair value		$ 115,543
Percentage of Partners' Capital		0.44%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Interest Rates Non-U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		330	317
Investment in Master, at fair value		$ 229,109	$ (3,835)
Percentage of Partners' Capital		0.87%	(0.01%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Livestock [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1
Investment in Master, at fair value		$ (440)
Percentage of Partners' Capital		0.00%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		30	44
Investment in Master, at fair value		$ (27,093)	$ 2,001
Percentage of Partners' Capital		(0.10%)	0.01%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			9
Investment in Master, at fair value			$ 2,402
Percentage of Partners' Capital			0.01%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 94,335	$ (244,595)
Percentage of Partners' Capital		0.36%	(0.91%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		8	69
Investment in Master, at fair value		$ (4,695)	$ 22,713
Percentage of Partners' Capital		(0.02%)	0.08%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		149	283
Investment in Master, at fair value		$ 49,625	$ 115,368
Percentage of Partners' Capital		0.19%	0.42%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Indices [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		109	97
Investment in Master, at fair value		$ 14,201	$ (1,764)
Percentage of Partners' Capital		0.05%	(0.01%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Interest Rates U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		32	156
Investment in Master, at fair value		$ (24,641)	$ (1,318)
Percentage of Partners' Capital		(0.09%)	0.00%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Interest Rates Non-U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		184	156
Investment in Master, at fair value		$ (14,851)	$ 2,108
Percentage of Partners' Capital		(0.06%)	0.01%
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Livestock [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		18	25
Investment in Master, at fair value		$ 12,960	$ (52,458)
Percentage of Partners' Capital		0.05%	(0.19%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		25	12
Investment in Master, at fair value		$ 20,385	$ (37,406)
Percentage of Partners' Capital		0.08%	(0.14%)
CMF Campbell Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		148	164
Investment in Master, at fair value		$ 41,351	$ (291,838)
Percentage of Partners' Capital		0.16%	(1.08%)
CMF Campbell Master Fund L.P. [Member] | U.S. Treasury bills [Member]
Schedule of Investments [Line Items]
Investment, Face Amount		$ 12,000,000	$ 18,250,000
Investment, Maturity Date		Apr. 14, 2016	Jan. 21, 2016
Investment, Fair Value		$ 11,999,625	$ 18,248,802
Percentage of Partners' Capital		45.55%	67.54%
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Depreciation on Open Forward Contracts [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized depreciation on futures/forward contracts		$ (1,678,740)	$ (1,623,402)
Percentage of Partners' Capital		(6.37%)	(6.01%)
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Depreciation on Open Forward Contracts [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		53	159
Percentage of Partners' Capital		(0.21%)	(0.62%)
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Depreciation on Open Forward Contracts [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Notional		$ 82,515,403	$ 86,905,702
Net unrealized depreciation on futures/forward contracts		$ (1,623,515)	$ (1,456,297)
Percentage of Partners' Capital		(6.16%)	(5.39%)
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Appreciation on Open Forward Contracts [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open futures/forward contracts		$ 1,684,803	$ 1,551,713
Percentage of Partners' Capital		6.39%	5.75%
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Appreciation on Open Forward Contracts [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		76	42
Percentage of Partners' Capital		0.27%	0.12%
CMF Campbell Master Fund L.P. [Member] | Net Unrealized Appreciation on Open Forward Contracts [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Notional		$ 91,096,524	$ 94,443,179
Net unrealized appreciation on open futures/forward contracts		$ 1,614,105	$ 1,519,936
Percentage of Partners' Capital		6.12%	5.63%
[1]	Defined in Note 1.

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies - Condensed Schedule of Investments (Parenthetical) (Detail) - CMF Campbell Master Fund L.P. [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Investment in U.S. Treasury bills, Amortized cost	$ 11,997,387	$ 18,249,423
U.S. Treasury bills [Member]
Schedule of Investments [Line Items]
Investment, interest rate	0.28%	0.0125%
Investment in U.S. Treasury bills, Amortized cost	$ 11,997,387	$ 18,249,423

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Income and Expenses and Changes in Partners' Capital (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Investment Income:
Interest income	$ 13,519	$ 541
Expenses:
Professional fees	62,284	42,117
Total expenses	422,089	553,453
Net investment loss	(408,570)	(552,912)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts	(570,754)	3,432,478
Net change in unrealized gains (losses) on open contracts	791,256	(388,516)
Total trading results	220,502	3,043,962
Net income (loss)	(188,068)	2,491,050
Subscriptions-Limited Partner		383,092
Net increase (decrease) in Partners' Capital	(704,046)	1,561,652
Partners' Capital, beginning of period	26,761,029	30,242,428
Partners' Capital, end of period	26,056,983	31,804,080
CMF Campbell Master Fund L.P. [Member]
Investment Income:
Interest income	13,519	541
Expenses:
Clearing fees	33,783	34,788
Professional fees	20,523	31,483
Total expenses	54,306	66,271
Net investment loss	(40,787)	(65,730)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts	(570,754)	3,432,478
Net change in unrealized gains (losses) on open contracts	791,256	(388,516)
Total trading results	220,502	3,043,962
Net income (loss)	179,715	2,978,232
Subscriptions-Limited Partner		383,092
Redemptions-Limited Partner	(849,023)	(1,984,021)
Distribution of interest income to feeder fund	(5,592)	(541)
Net increase (decrease) in Partners' Capital	(674,900)	1,376,762
Partners' Capital, beginning of period	27,017,432	30,700,652
Partners' Capital, end of period	$ 26,342,532	$ 32,077,414
Net asset value per Redeemable Unit (12,948.7284 and 14,286.7062 Redeemable Units outstanding at March 31, 2016 and 2015, respectively)	$ 2,034.37	$ 2,245.26	$ 2,022.39	$ 2,042.41
Net income (loss) per Redeemable Unit	$ 12.41	$ 202.88
Weighted average Redeemable Units outstanding	13,218.9469	14,893.0821

Basis of Presentation and Sum25

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Income and Expenses and Changes in Partners' Capital (Parenthetical) (Detail) - shares	Mar. 31, 2016	Mar. 31, 2015
CMF Campbell Master Fund L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Net asset value per redeemable unit outstanding	12,948.7284	14,286.7062

Financial Highlights - Financia

Financial Highlights - Financial Highlights for Limited Partner Class (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period	$ 1,571.03
Net asset value per Redeemable Unit, end of period	1,559.35	$ 1,815.10
CMF Campbell Master Fund L.P. [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	15.53	207.38
Net investment loss	(3.12)	(4.50)
Increase (decrease) for the period	12.41	202.88
Distribution of interest income to feeder fund	(0.43)	(0.03)
Net asset value per Redeemable Unit, beginning of period	2,022.39	2,042.41
Net asset value per Redeemable Unit, end of period	$ 2,034.37	$ 2,245.26
Ratios to Average Limited Partners' Capital:
Net investment loss	(0.60%)	(0.80%)
Operating expenses	0.80%	0.90%
Total return	0.60%	9.90%
Limited Partners [Member] | Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	$ 12.44	$ 169.56
Net investment loss	(24.12)	(31.07)
Increase (decrease) for the period	(11.68)	138.49
Net asset value per Redeemable Unit, beginning of period	1,571.03	1,676.61
Net asset value per Redeemable Unit, end of period	$ 1,559.35	$ 1,815.10
Ratios to Average Limited Partners' Capital:
Net investment loss	(6.10%)	(6.40%)
Operating expenses	6.30%	6.10%
Incentive fees		0.30%
Total expenses	6.30%	6.40%
Total return:
Total return before incentive fees	(0.70%)	8.60%
Incentive fees		(0.30%)
Total return after incentive fees	(0.70%)	8.30%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)Contract	Mar. 31, 2015USD ($)Contract
Derivative [Line Items]
Monthly average number of futures contracts traded	1,140	1,604
Monthly average number of metals forward contracts traded	303	412
Forward Contracts [Member] | Currencies [Member] | Weighted Average [Member]
Derivative [Line Items]
Average notional values of currency forward contracts | $	$ 287,000,698	$ 351,428,637

Trading Activities - Summary of

Trading Activities - Summary of Valuation of Master's Investments (Detail) - CMF Campbell Master Fund L.P. [Member] - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 2,373,561	$ 1,877,373
Gross Amounts Offset in the Statements of Financial Condition, Assets	(1,924,414)	(1,877,373)
Amounts Presented in the Statements of Financial Condition, Assets	449,147
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	449,147
Gross Amounts Recognized, Liabilities	(1,924,414)	(2,220,242)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	1,924,414	1,877,373
Amounts Presented in the Statements of Financial Condition, Liabilities		(342,869)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities		(342,869)
Net fair value	449,147	(342,869)
Futures [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	688,758	325,660
Gross Amounts Offset in the Statements of Financial Condition, Assets	(245,674)	(325,660)
Amounts Presented in the Statements of Financial Condition, Assets	443,084
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	443,084
Gross Amounts Recognized, Liabilities	(245,674)	(596,840)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	245,674	325,660
Amounts Presented in the Statements of Financial Condition, Liabilities		(271,180)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities		(271,180)
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	1,684,803	1,551,713
Gross Amounts Offset in the Statements of Financial Condition, Assets	(1,678,740)	(1,551,713)
Amounts Presented in the Statements of Financial Condition, Assets	6,063
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	6,063
Gross Amounts Recognized, Liabilities	(1,678,740)	(1,623,402)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	1,678,740	1,551,713
Amounts Presented in the Statements of Financial Condition, Liabilities		(71,689)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	$ 0	0
Net Amount, Liabilities		$ (71,689)

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts as Separate Assets and Liabilities (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Futures [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open futures and forward contracts	$ 443,084	$ (271,180)
Forward Contracts [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open futures and forward contracts	6,063	(71,689)
Assets [Member] | Futures [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	688,758	325,660
Assets [Member] | Futures [Member] | Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	68,572	58,972
Assets [Member] | Futures [Member] | Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	86,029	117,568
Assets [Member] | Futures [Member] | Indices [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	121,556	28,068
Assets [Member] | Futures [Member] | Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	115,543	15,680
Assets [Member] | Futures [Member] | Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	249,392	67,737
Assets [Member] | Futures [Member] | Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	13,660	50
Assets [Member] | Futures [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	11,150	31,773
Assets [Member] | Futures [Member] | Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	22,856	5,812
Assets [Member] | Forward Contracts [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	1,684,803	1,551,713
Assets [Member] | Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	70,698	31,777
Assets [Member] | Forward Contracts [Member] | Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	1,614,105	1,519,936
Liabilities [Member] | Futures [Member]
Derivative [Line Items]
Derivative liabilities	(245,674)	(596,840)
Liabilities [Member] | Futures [Member] | Energy [Member]
Derivative [Line Items]
Derivative liabilities	(27,221)	(348,408)
Liabilities [Member] | Futures [Member] | Grains [Member]
Derivative [Line Items]
Derivative liabilities	(30,210)	(2,200)
Liabilities [Member] | Futures [Member] | Indices [Member]
Derivative [Line Items]
Derivative liabilities	(89,609)	(56,985)
Liabilities [Member] | Futures [Member] | Interest Rates U.S. [Member]
Derivative [Line Items]
Derivative liabilities	(24,641)	(16,998)
Liabilities [Member] | Futures [Member] | Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Derivative liabilities	(35,134)	(69,464)
Liabilities [Member] | Futures [Member] | Livestock [Member]
Derivative [Line Items]
Derivative liabilities	(1,140)	(52,508)
Liabilities [Member] | Futures [Member] | Metals [Member]
Derivative [Line Items]
Derivative liabilities	(8,155)	(9,060)
Liabilities [Member] | Futures [Member] | Softs [Member]
Derivative [Line Items]
Derivative liabilities	(29,564)	(41,217)
Liabilities [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative liabilities	(1,678,740)	(1,623,402)
Liabilities [Member] | Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Derivative liabilities	(55,225)	(167,105)
Liabilities [Member] | Forward Contracts [Member] | Currencies [Member]
Derivative [Line Items]
Derivative liabilities	$ (1,623,515)	$ (1,456,297)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses, by Market Sector, on Derivative Instruments (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Trading gains and losses	$ 220,502	$ 3,043,962
Currencies [Member]
Derivative [Line Items]
Trading gains and losses	342,371	937,463
Energy [Member]
Derivative [Line Items]
Trading gains and losses	167,412	36,824
Grains [Member]
Derivative [Line Items]
Trading gains and losses	(154,518)	(48,323)
Indices [Member]
Derivative [Line Items]
Trading gains and losses	(267,182)	880,997
Interest Rates U.S. [Member]
Derivative [Line Items]
Trading gains and losses	(75,775)	264,010
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Trading gains and losses	814,478	828,901
Livestock [Member]
Derivative [Line Items]
Trading gains and losses	(34,698)	(38,830)
Metals [Member]
Derivative [Line Items]
Trading gains and losses	(381,616)	(109,772)
Softs [Member]
Derivative [Line Items]
Trading gains and losses	$ (189,970)	$ 292,692

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Transfers of assets between Level 1 and Level 2	$ 0	$ 0
Transfers of liabilities between Level 1 and Level 2	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Fair Value Based on Hierarchy (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative assets	$ 14,373,186	$ 20,126,175
Derivative liabilities	1,924,414	2,220,242
Futures [Member]
Derivative [Line Items]
Derivative assets	688,758	325,660
Derivative liabilities	245,674	596,840
Forward Contracts [Member]
Derivative [Line Items]
Derivative assets	1,684,803	1,551,713
Derivative liabilities	1,678,740	1,623,402
U.S. Treasury bills [Member]
Derivative [Line Items]
Derivative assets	11,999,625	18,248,802
Level 1 [Member]
Derivative [Line Items]
Derivative assets	759,456	357,437
Derivative liabilities	300,899	763,945
Level 1 [Member] | Futures [Member]
Derivative [Line Items]
Derivative assets	688,758	325,660
Derivative liabilities	245,674	596,840
Level 1 [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative assets	70,698	31,777
Derivative liabilities	55,225	167,105
Level 2 [Member]
Derivative [Line Items]
Derivative assets	13,613,730	19,768,738
Derivative liabilities	1,623,515	1,456,297
Level 2 [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative assets	1,614,105	1,519,936
Derivative liabilities	1,623,515	1,456,297
Level 2 [Member] | U.S. Treasury bills [Member]
Derivative [Line Items]
Derivative assets	$ 11,999,625	$ 18,248,802

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements Disclosure [Line Items]
Financial instruments maturity period	1 year
Credit Concentration Risk [Member] | Over the Counter [Member] | Minimum [Member]
Fair Value Measurements Disclosure [Line Items]
Concentration risk percentage	6.90%
Credit Concentration Risk [Member] | Over the Counter [Member] | Maximum [Member]
Fair Value Measurements Disclosure [Line Items]
Concentration risk percentage	40.20%