Potomac Futures Fund (POTO) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	POTOMAC FUTURES FUND LP
Entity Central Index Key	0001043565
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Address, State or Province	NY
Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,173.5968
Class Z [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22.3230

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Equity in trading account:
Unrestricted cash	$ 28,760,889	$ 13,460,371
Restricted cash	9,851,055	3,230,953
Net unrealized appreciation on open contracts	334,452	766,141
Total equity in trading account	38,946,396	17,457,465
Receivable from General Partner	0	15,849
Interest receivable	55,517	26,847
Total assets	39,001,913	17,500,161
Liabilities:
Net unrealized depreciation on open contracts	39,076	0
Accrued expenses:
Ongoing selling agent fees	64,189	28,781
Management fees	48,273	21,661
General Partner fees	28,964	14,441
Professional fees	280,162	142,206
Redemptions payable to Limited Partners	304,078	104,315
Total liabilities	764,742	311,404
Partners' Capital:
Total partners' capital (net asset value)	38,237,171	17,188,757
Total liabilities and partners' capital	39,001,913	17,500,161
Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation on open contracts	334,452	479,523
Liabilities:
Net unrealized depreciation on open contracts	0	0
Futures [Member]
Equity in trading account:
Net unrealized appreciation on open contracts	0	286,618
Liabilities:
Net unrealized depreciation on open contracts	39,076	0
Class A [Member]
Partners' Capital:
Limited Partners,	37,791,882	16,975,265
Total partners' capital (net asset value)	$ 37,791,882	$ 16,975,265
Net asset value per Redeemable Unit	$ 1,432.19	$ 1,230.07
Class Z [Member]
Partners' Capital:
General Partner, Class Z, 412.4990 and 246.4190 Redeemable Units outstanding at September 30, 2019 and December 31, 2018, respectivel	$ 422,429	$ 213,492
Limited Partners,	22,860	0
Total partners' capital (net asset value)	$ 445,289	$ 213,492
Net asset value per Redeemable Unit	$ 1,024.07	$ 866.38

Statements of Financial Condi_2

Statements of Financial Condition (Parenthetical) - shares	Sep. 30, 2019	Dec. 31, 2018
Class A [Member]
Limited Partners Redeemable Units outstanding	26,387.5128	13,800.2198
Class Z [Member]
General Partner Redeemable Units outstanding	412.4990	246.4190
Limited Partners Redeemable Units outstanding	22.3230	0

Condensed Schedule of Investmen

Condensed Schedule of Investments		Sep. 30, 2019USD ($)Derivative	Dec. 31, 2018USD ($)Derivative
Futures [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open contracts		$ (39,076)	$ 286,618
Percentage of Partners' Capital		(0.10%)	1.67%
Total unrealized appreciation on open contracts		$ 852,080	$ 561,881
Total unrealized depreciation on open contracts		(891,156)	(275,263)
Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		$ 71,820	$ 157,988
Percentage of Partners' Capital		0.19%	0.92%
Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		$ (110,896)	$ 128,630
Percentage of Partners' Capital		(0.29%)	0.75%
Metals [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 63,540	$ 23,908
Total unrealized depreciation on open contracts		$ (75,143)	$ (400)
Metals [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		31	8
Investment, Fair Value		$ (11,603)	$ 19,310
Percentage of Partners' Capital		(0.03%)	0.11%
Metals [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			7
Investment, Fair Value			$ 4,198
Percentage of Partners' Capital			0.02%
Energy [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 151,258	$ 63,201
Total unrealized depreciation on open contracts		$ (30,394)	$ (83,350)
Energy [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		15	11
Investment, Fair Value		$ (27,320)	$ (82,600)
Percentage of Partners' Capital		(0.07%)	(0.48%)
Energy [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		72	12
Investment, Fair Value		$ 148,184	$ 62,451
Percentage of Partners' Capital		0.38%	0.36%
Grains [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 30,658	$ 67,071
Total unrealized depreciation on open contracts		$ (64,197)	$ (930)
Grains [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		39	1
Investment, Fair Value		$ 519	$ (80)
Percentage of Partners' Capital	[1]	0.00%	0.00%
Grains [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		134	167
Investment, Fair Value		$ (34,058)	$ 66,221
Percentage of Partners' Capital		(0.09%)	0.39%
Indices [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 228,839	$ 67,303
Total unrealized depreciation on open contracts		$ (88,017)	$ (67,877)
Indices [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		364	16
Investment, Fair Value		$ 161,355	$ (13,698)
Percentage of Partners' Capital		0.43%	(0.08%)
Indices [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		48	89
Investment, Fair Value		$ (20,533)	$ 13,124
Percentage of Partners' Capital		(0.05%)	0.08%
Interest Rates U.S. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 13,548	$ 40,484
Total unrealized depreciation on open contracts		$ (130,740)	$ (112,616)
Interest Rates U.S. [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		212	98
Investment, Fair Value		$ (105,693)	$ 40,140
Percentage of Partners' Capital		(0.27%)	0.23%
Interest Rates U.S. [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		73	134
Investment, Fair Value		$ (11,499)	$ (112,272)
Percentage of Partners' Capital		(0.03%)	(0.65%)
Interest Rates Non-U.S. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 279,976	$ 191,985
Total unrealized depreciation on open contracts		$ (394,929)	$ (8,061)
Interest Rates Non-U.S. [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,312	974
Investment, Fair Value		$ (9,870)	$ 184,406
Percentage of Partners' Capital		(0.03%)	1.07%
Interest Rates Non-U.S. [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		276	10
Investment, Fair Value		$ (105,083)	$ (482)
Percentage of Partners' Capital		(0.27%)	0.00%	[1]
Livestock [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 70,490	$ 30
Total unrealized depreciation on open contracts		$ (42,750)	$ (1,043)
Livestock [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		20
Investment, Fair Value		$ 70,490
Percentage of Partners' Capital		0.18%
Livestock [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		9	3
Investment, Fair Value		$ (42,750)	$ (1,013)
Percentage of Partners' Capital		(0.11%)	(0.01%)
Softs [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 13,771	$ 107,899
Total unrealized depreciation on open contracts		$ (64,986)	$ (986)
Softs [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		36	10
Investment, Fair Value		$ (6,058)	$ 10,510
Percentage of Partners' Capital		(0.02%)	0.07%
Softs [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		75	77
Investment, Fair Value		$ (45,157)	$ 96,403
Percentage of Partners' Capital		(0.12%)	0.56%
Forward Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open contracts		$ 334,452	$ 479,523
Percentage of Partners' Capital		0.87%	2.79%
Total unrealized appreciation on open contracts		$ 1,956,687	$ 1,333,455
Total unrealized depreciation on open contracts		(1,622,235)	(853,932)
Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		317,029	171,195
Total unrealized depreciation on open contracts		(303,247)	(126,750)
Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Notional		200,667,914	74,536,326
Total unrealized appreciation on open contracts		1,639,658	1,162,260
Notional		146,947,707	51,277,538
Total unrealized depreciation on open contracts		$ (1,318,988)	$ (727,182)
Unrealized Appreciation [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		5.11%	7.76%
Unrealized Appreciation [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		195	60
Percentage of Partners' Capital		0.83%	1.00%
Unrealized Appreciation [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		4.28%	6.76%
Unrealized Depreciation [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		(4.24%)	(4.97%)
Unrealized Depreciation [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		137	42
Percentage of Partners' Capital		(0.79%)	(0.74%)
Unrealized Depreciation [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		(3.45%)	(4.23%)
[1]	Due to rounding.

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investment Income:
Interest income		$ 185,970	$ 79,538	$ 572,565	$ 231,359
Total investment income		185,970	79,538	572,565	231,359
Expenses:
Clearing fees related to direct investments		57,075	18,173	177,475	57,087
Ongoing selling agent fees		196,023	93,122	568,386	300,543
Management fees		147,416	70,170	428,691	226,368
General Partner fees		88,449	46,780	257,214	150,911
Professional fees		35,770	69,260	177,095	210,250
Total expenses		524,733	297,505	1,608,861	945,159
Expenses borne by the General Partner		(15,391)	(45,830)	(66,547)	(134,327)
Net expenses		509,342	251,675	1,542,314	810,832
Net investment loss		(323,372)	(172,137)	(969,749)	(579,473)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts		3,415,772	138,647	7,186,427	(842,312)
Net change in unrealized gains (losses) on open contracts		(584,693)	(179,909)	(471,332)	(76,688)
Total trading results		2,831,079	(41,262)	6,715,095	(919,000)
Net income (loss)		2,507,707	(213,399)	5,745,346	(1,498,473)
Class A [Member]
Net gains (losses) on trading of commodity interests:
Net income (loss)		$ 2,477,575	$ (212,122)	$ 5,667,589	$ (1,488,360)
Net income (loss) per Redeemable Unit	[1]	$ 90.17	$ (13.80)	$ 202.12	$ (95.55)
Weighted average Redeemable Units outstanding		27,000.4485	14,683.8965	28,425.7895	15,338.3711
Class Z [Member]
Net gains (losses) on trading of commodity interests:
Net income (loss)		$ 30,132	$ (1,277)	$ 77,757	$ (10,113)
Net income (loss) per Redeemable Unit	[1]	$ 69.29	$ (5.18)	$ 157.69	$ (52.70)
Weighted average Redeemable Units outstanding		434.8220	246.4190	505.1829	252.0029
[1]	Represents the change in net asset value per Redeemable Unit during the period.

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	Limited Partners [Member]	General Partner [Member]	Class A [Member]	Class A [Member]Limited Partners [Member]	Class A [Member]General Partner [Member]	Class Z [Member]	Class Z [Member]Limited Partners [Member]	Class Z [Member]General Partner [Member]
Partners' Capital, beginning of period at Dec. 31, 2017	$ 22,263,377			$ 21,985,171			$ 278,206
Partners' Capital, Redeemable Units, beginning of period at Dec. 31, 2017	16,480.3018			16,183.6278			296.6740
Subscriptions		$ 50,000			$ 50,000
Subscriptions, Redeemable Units		38.2040			38.2040
Redemptions		$ (2,491,132)	$ (50,000)		$ (2,491,132)				$ (50,000)
Redemptions, Redeemable Units		(1,925.1750)	(50.2550)		(1,925.1750)				(50.2550)
Net income (loss)	$ (1,498,473)			$ (1,488,360)			$ (10,113)
Partners' Capital, end of period at Sep. 30, 2018	$ 18,273,772			$ 18,055,679			$ 218,093
Partners' Capital, Redeemable Units, end of period at Sep. 30, 2018	14,543.0758			14,296.6568			246.4190
Partners' Capital, beginning of period at Jun. 30, 2018	$ 19,266,900			$ 19,047,530			$ 219,370
Partners' Capital, Redeemable Units, beginning of period at Jun. 30, 2018	15,165.3988			14,918.9798			246.4190
Redemptions		$ (779,729)			$ (779,729)
Redemptions, Redeemable Units		(622.3230)			(622.3230)
Net income (loss)	$ (213,399)			$ (212,122)			$ (1,277)
Partners' Capital, end of period at Sep. 30, 2018	$ 18,273,772			$ 18,055,679			$ 218,093
Partners' Capital, Redeemable Units, end of period at Sep. 30, 2018	14,543.0758			14,296.6568			246.4190
Partners' Capital, beginning of period at Dec. 31, 2018	$ 17,188,757			$ 16,975,265			$ 213,492
Partners' Capital, Redeemable Units, beginning of period at Dec. 31, 2018	14,046.6388			13,800.2198			246.4190
Subscriptions		$ 20,389,371	$ 269,705		$ 20,370,031	$ 0		$ 19,340	$ 269,705
Subscriptions, Redeemable Units		16,581.0830	311.3000		16,558.7600	0		22.3230	311.3000
Redemptions		$ (5,221,003)	$ (135,005)		$ (5,221,003)	$ 0			$ (135,005)
Redemptions, Redeemable Units		(3,971.4670)	(145.2200)		(3,971.4670)	0			(145.2200)
Net income (loss)	$ 5,745,346			$ 5,667,589			$ 77,757
Partners' Capital, end of period at Sep. 30, 2019	$ 38,237,171			$ 37,791,882			$ 445,289
Partners' Capital, Redeemable Units, end of period at Sep. 30, 2019	26,822.3348			26,387.5128			434.8220
Partners' Capital, beginning of period at Jun. 30, 2019	$ 37,443,938			$ 37,028,781			$ 415,157
Partners' Capital, Redeemable Units, beginning of period at Jun. 30, 2019	28,026.6728			27,591.8508			434.8220
Redemptions	$ (1,714,474)			$ (1,714,474)
Redemptions, Redeemable Units	(1,204.3380)			(1,204.3380)
Net income (loss)	$ 2,507,707			$ 2,477,575			$ 30,132
Partners' Capital, end of period at Sep. 30, 2019	$ 38,237,171			$ 37,791,882			$ 445,289
Partners' Capital, Redeemable Units, end of period at Sep. 30, 2019	26,822.3348			26,387.5128			434.8220

Organization

Organization	9 Months Ended
	Sep. 30, 2019
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 and 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. 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 a wholly-owned During the reporting periods ended September 30, 2019 and 2018, the Partnership’s commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. During prior reporting periods included in this report, the Partnership deposited a portion of its cash in non-trading 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 Class A Redeemable Units were not changed. Class A Redeemable Units and Class Z Redeemable Units will each be referred to as a “Class” and collectively referred to as the “Classes.” Class A Redeemable Units are available to taxable U.S. individuals and institutions, U.S. tax exempt individuals and institutions, and non-U.S. As of July 17, 2017, the Advisor commenced trading the Partnership’s assets directly pursuant to the Campbell Managed Futures Portfolio, a proprietary, systematic trading program. The General Partner is not aware of any material changes to the trading program other than as discussed above during the fiscal quarter ended September 30, 2019. The Partnership’s trading of futures, forward, swap and option contracts, if applicable, on commodities are done primarily on U.S. and foreign commodity exchanges. The Partnership engages in such trading through commodity brokerage accounts maintained with MS&Co. The Partnership has entered into a foreign exchange brokerage account agreement and a futures brokerage account agreement with MS&Co. The Partnership 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, user, give-up, The Partnership has also entered into a selling agent agreement with Morgan Stanley Wealth Management (as amended, the “Selling Agreement”). Pursuant to the Selling Agreement, Morgan Stanley Wealth Management receives a monthly ongoing selling agent fee equal to 2.0% per year of the Partnership’s adjusted month-end Effective January 1, 2019, the General Partner fee was reduced to 1/12 of 0.90% (0.90% per year) of month-end Effective January 1, 2017, the General Partner instituted a cap on the Partnership’s operating expenses such that the General Partner will be responsible for any such expenses to the extent they exceed 0.50% of the Partnership’s net assets in any calendar year. 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	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019, the results of its operations and the changes in partners’ capital for the three and nine months ended September 30, 2019 and 2018. 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 10-K”) 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. Use of Estimates. Profit Allocation. Statement of Cash Flows. “Statement of Cash Flows.” Partnership’s Investments. All commodity interests of the Partnership, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests for the Partnership are recorded on the trade date and open contracts are recorded at fair value (as described in Note 5, “Fair Value Measurements”) at the measurement date. The Partnership’s investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses for the Partnership are realized when contracts are liquidated and are determined using the first-in, first-out The Partnership does not isolate the 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 Partnership’s Statements of Income and Expenses. Partnership’s Cash. Income Taxes. “Income Taxes,” “more-likely-than-not” more-likely-than-not Investment Company Status. 2013-08, “Financial Services—Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” Net Income (Loss) per Redeemable Unit. “Financial Services – Investment Companies.” 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

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2019
Investment Company [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three and nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class A Class Z Class A Per Redeemable Unit Performance (for a unit oustanding throughout the period): * Net realized and unrealized gains (losses) $ 102.09 $ 72.62 $ (2.14) $ 236.06 $ 167.57 $ (57.98) Net investment loss (11.92) (3.33) (11.66) (33.94) (9.88) (37.57) Increase (decrease) for the period 90.17 69.29 (13.80) 202.12 157.69 (95.55) Net asset value per Redeemable Unit, beginning of period 1,342.02 954.78 1,276.73 1,230.07 866.38 1,358.48 Net asset value per Redeemable Unit, end of period $ 1,432.19 $ 1,024.07 $ 1,262.93 $ 1,432.19 $ 1,024.07 $ 1,262.93 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class A Class Z Class A Ratios to Average Limited Partners’ Capital: ** Net investment loss *** (3.4) % (1.3) % (3.7) % (3.5) (1.4) % (3.9) % Operating expenses before expenses borne by the General Partner and incentive fees 5.3 % 3.2 % 6.4 % 5.5 3.4 % 6.3 % Expenses borne by the General Partner (0.2) % (0.2) % (1.0) % (0.4) (0.4) % (0.9) % Incentive fees - % - % - % - - % - % Operating expenses after expenses borne by the General Partner and incentive fees 5.1 % 3.0 % 5.4 % 5.1 3.0 % 5.4 % Total return: Total return before incentive fees 6.7 % 7.3 % (1.1) % 16.4 18.2 % (7.0) % Incentive fees - % - % - % - - % - % Total return after incentive fees 6.7 % 7.3 % (1.1) % 16.4 18.2 % (7.0) % * Net investment loss per Redeemable Unit is calculated by dividing the interest income less total expenses 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. ** Annualized (other than incentive fees). *** Interest income less total expenses. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period.

Trading Activities

Trading Activities	9 Months Ended
	Sep. 30, 2019
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’s results of trading activities are shown on the Statements of Income and Expenses. The futures brokerage account agreements with MS&Co. give the Partnership the legal right to net unrealized gains and losses on open futures and forward contracts. The Partnership nets, for financial reporting purposes, the unrealized gains and losses on open futures and forward contracts in the Statements of Financial Condition as the criteria under ASC 210-20, “Balance Sheet,” Trading and transaction fees are based on the number of trades executed by the Advisor. All clearing fees paid to MS&Co. are directly charged to the Partnership. All of the commodity interests owned by the Partnership are held for trading purposes. The monthly average number of futures contracts traded by the Partnership during the three months ended September 30, 2019 and 2018 were 2,885 and 1,286, respectively. The monthly average number of futures contracts traded by the Partnership during the nine months ended September 30, 2019 and 2018 were 3,305 and 1,327, respectively. The monthly average number of metals forward contracts traded by the Partnership during the three months ended September 30, 2019 and 2018 were 567 and 145, respectively. The monthly average number of metals forward contracts traded by the Partnership during the nine months ended September 30, 2019 and 2018 were 475 and 152, respectively. The monthly average notional values of currency forward contracts traded by the Partnership during the three months ended September 30, 2019 and 2018 were $642,832,216 and $154,752,785, respectively. The monthly average notional values of currency forward contracts traded by the Partnership during the nine months ended September 30, 2019 and 2018 were $660,522,968 and $159,450,559, respectively. The following tables summarize the gross and net amounts relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of September 30, 2019 and December 31, 2018, respectively. September 30, 2019 Gross Amounts Recognized Gross Amounts Offset in the Statements of Condition Amounts Presented in the Statements of Financial Condition Gross Amounts Not Offset in the Statements of Financial Condition Net Amount Financial Cash Collateral Pledged * Assets Futures $ 852,080 $ (852,080) $ - $ - $ - $ - Forwards 1,956,687 (1,622,235) 334,452 - - 334,452 Total assets $ 2,808,767 $ (2,474,315) $ 334,452 $ - $ - $ 334,452 Liabilities Futures $ (891,156) $ 852,080 $ (39,076) $ - $ - $ (39,076) Forwards (1,622,235) 1,622,235 - - - - Total liabilities $ (2,513,391) $ 2,474,315 $ (39,076) $ - $ - $ (39,076) Net fair value $ 295,376 * December 31, 2018 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial Condition Amounts Presented in the Statements of Financial Condition Gross Amounts Not Offset in the Statements of Financial Condition Net Amount Financial Instruments Cash Collateral Received/ Pledged * Assets Futures $ 561,881 $ (275,263) $ 286,618 $ - $ - $ 286,618 Forwards 1,333,455 (853,932) 479,523 - - 479,523 Total assets $ 1,895,336 $ (1,129,195) $ 766,141 $ - $ - $ 766,141 Liabilities Futures $ (275,263) $ 275,263 $ - $ - $ - $ - Forwards (853,932) 853,932 - - - - Total liabilities $ (1,129,195) $ 1,129,195 $ - $ - $ - $ - Net fair value $ 766,141 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s non-exchange-traded The following tables indicate the gross fair values of derivative instruments of futures and forward contracts as separate assets and liabilities for the Partnership as of September 30, 2019 and December 31, 2018, respectively. Assets September 30, 2019 Futures Contracts Energy $ 151,258 Grains 30,658 Indices 228,839 Interest Rates U.S. 13,548 Interest Rates Non-U.S. 279,976 Livestock 70,490 Metals 63,540 Softs 13,771 Total unrealized appreciation on open futures contracts 852,080 Liabilities Futures Contracts Energy (30,394) Grains (64,197) Indices (88,017) Interest Rates U.S. (130,740) Interest Rates Non-U.S. (394,929) Livestock (42,750) Metals (75,143) Softs (64,986) Total unrealized depreciation on open futures contracts (891,156) Net unrealized depreciation on open futures contracts $ (39,076) * Assets Forward Contracts Currencies $ 1,639,658 Metals 317,029 Total unrealized appreciation on open forward contracts 1,956,687 Liabilities Forward Contracts Currencies (1,318,988) Metals (303,247) Total unrealized depreciation on open forward contracts (1,622,235) Net unrealized appreciation on open forward contracts $ 334,452 ** * This amount is in “Net unrealized depreciation on open futures contracts” in the Partnership’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Partnership’s Statements of Financial Condition. Assets December 31, 2018 Futures Contracts Energy $ 63,201 Grains 67,071 Indices 67,303 Interest Rates U.S. 40,484 Interest Rates Non-U.S. 191,985 Livestock 30 Metals 23,908 Softs 107,899 Total unrealized appreciation on open futures contracts 561,881 Liabilities Futures Contracts Energy (83,350 ) Grains (930 ) Indices (67,877 ) Interest Rates U.S. (112,616 ) Interest Rates Non-U.S. (8,061 ) Livestock (1,043 ) Metals (400 ) Softs (986 ) Total unrealized depreciation on open futures contracts (275,263 ) Net unrealized appreciation on open futures contracts $ 286,618 * Assets Forward Contracts Currencies $ 1,162,260 Metals 171,195 Total unrealized appreciation on open forward contracts 1,333,455 Liabilities Forward Contracts Currencies (727,182 ) Metals (126,750 ) Total unrealized depreciation on open forward contracts (853,932 ) Net unrealized appreciation on open forward contracts $ 479,523 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Partnership’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Partnership’s Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments for the three and nine months ended September 30, 2019 and 2018, respectively. Three Months Ended September 30, Nine Months Ended September 30, Sector 2019 2018 2019 2018 Currencies $ 571,646 $ 108,024 $ (199,808) $ 158,726 Energy (359,241) (51,507) (806,982) 497,103 Grains 275,381 (78,802) (146,016) (392,429) Indices 574,526 151,656 2,499,518 (908,695) Interest Rates U.S. (103,624) 88,921 818,595 459,146 Interest Rates Non-U.S. 1,658,146 (286,967) 4,942,050 (289,000) Livestock 40,638 (46,175) 151,390 (130,268) Metals 62,463 (64,712) (509,993) (523,795) Softs 111,144 138,300 (33,659) 210,212 Total $ 2,831,079 * $ (41,262) * $ 6,715,095 * $ (919,000) * * This amount is in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Partnership’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 The Partnership considers prices for commodity futures, exchange-traded 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 September 30, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 852,080 $ 852,080 $ - $ - Forwards 1,956,687 - 1,956,687 - Total assets $ 2,808,767 $ 852,080 $ 1,956,687 $ - Liabilities Futures $ 891,156 $ 891,156 $ - $ - Forwards 1,622,235 - 1,622,235 - Total liabilities $ 2,513,391 $ 891,156 $ 1,622,235 $ - December 31, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 561,881 $ 561,881 $ - $ - Forwards 1,333,455 - 1,333,455 - Total assets $ 1,895,336 $ 561,881 $ 1,333,455 $ - Liabilities Futures $ 275,263 $ 275,263 $ - $ - Forwards 853,932 - 853,932 - Total liabilities $ 1,129,195 $ 275,263 $ 853,932 $ -

Financial Instrument Risks

Financial Instrument Risks	9 Months Ended
	Sep. 30, 2019
Investments, All Other Investments [Abstract]
Financial Instrument Risks	6. Financial Instrument Risks: In the normal course of business, the Partnership is party to financial instruments with off-balance-sheet over-the-counter Futures Contracts. Forward Foreign Currency Contracts. London Metals Exchange Forward Contracts. Market risk is the potential for changes in the value of the financial instruments that are traded by the Partnership due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. The Partnership’s market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are or were traded. The Partnership is exposed to market risk equal to the value of the 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 risk of loss in the event of a counterparty default for the Partnership is typically limited to the amounts recognized in the Statements of Financial Condition and is not, for the Partnership, represented by the contract or notional amounts of the instruments. The risk of loss for the Partnership is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership 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 assets. Credit risk with respect to exchange-traded instruments for the Partnership is reduced to the extent that, through MS&Co. or an MS&Co. affiliate, the Partnership’s counterparty is an exchange or clearing organization. The General Partner monitors and attempts to mitigate the Partnership’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 may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk-adjusted 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. The majority of these financial instruments mature within one year of the inception date. However, due to the nature of the Partnership’s business, these instruments may not be held to maturity. In the ordinary course of business, the Partnership enters into contracts and agreements that contain various representations and warranties and which provide general indemnifications. The Partnership’s maximum exposure under these arrangements cannot be determined, as this could include future claims that have not yet been made against the Partnership. The Partnership considers the risk of any future obligation relating to these indemnifications to be remote.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	7. Subsequent Events: The General Partner evaluates events that occur after the balance sheet date but before and up until financial statements are available to be issued. The General Partner has assessed the subsequent events through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment to or disclosure in the financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates.
Profit Allocation	Profit Allocation.
Statement of Cash Flows	Statement of Cash Flows. “Statement of Cash Flows.”
Partnership's Investments	Partnership’s Investments. All commodity interests of the Partnership, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests for the Partnership are recorded on the trade date and open contracts are recorded at fair value (as described in Note 5, “Fair Value Measurements”) at the measurement date. The Partnership’s investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses for the Partnership are realized when contracts are liquidated and are determined using the first-in, first-out The Partnership does not isolate the 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 Partnership’s Statements of Income and Expenses.
Partnership's Cash	Partnership’s Cash.
Income Taxes	Income Taxes. “Income Taxes,” “more-likely-than-not” more-likely-than-not
Investment Company Status	Investment Company Status. 2013-08, “Financial Services—Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements”
Net Income (Loss) per Redeemable Unit	Net Income (Loss) per Redeemable Unit. “Financial Services – Investment Companies.”

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2019
Investment Company [Abstract]
Financial Highlights for Limited Partner Class	Financial highlights for the limited partner class as a whole for the three and nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class A Class Z Class A Per Redeemable Unit Performance (for a unit oustanding throughout the period): * Net realized and unrealized gains (losses) $ 102.09 $ 72.62 $ (2.14) $ 236.06 $ 167.57 $ (57.98) Net investment loss (11.92) (3.33) (11.66) (33.94) (9.88) (37.57) Increase (decrease) for the period 90.17 69.29 (13.80) 202.12 157.69 (95.55) Net asset value per Redeemable Unit, beginning of period 1,342.02 954.78 1,276.73 1,230.07 866.38 1,358.48 Net asset value per Redeemable Unit, end of period $ 1,432.19 $ 1,024.07 $ 1,262.93 $ 1,432.19 $ 1,024.07 $ 1,262.93 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class A Class Z Class A Ratios to Average Limited Partners’ Capital: ** Net investment loss *** (3.4) % (1.3) % (3.7) % (3.5) (1.4) % (3.9) % Operating expenses before expenses borne by the General Partner and incentive fees 5.3 % 3.2 % 6.4 % 5.5 3.4 % 6.3 % Expenses borne by the General Partner (0.2) % (0.2) % (1.0) % (0.4) (0.4) % (0.9) % Incentive fees - % - % - % - - % - % Operating expenses after expenses borne by the General Partner and incentive fees 5.1 % 3.0 % 5.4 % 5.1 3.0 % 5.4 % Total return: Total return before incentive fees 6.7 % 7.3 % (1.1) % 16.4 18.2 % (7.0) % Incentive fees - % - % - % - - % - % Total return after incentive fees 6.7 % 7.3 % (1.1) % 16.4 18.2 % (7.0) % * Net investment loss per Redeemable Unit is calculated by dividing the interest income less total expenses 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. ** Annualized (other than incentive fees). *** Interest income less total expenses.

Trading Activities (Tables)

Trading Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Brokers and Dealers [Abstract]
Summary of Valuation of Investments	The following tables summarize the gross and net amounts relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of September 30, 2019 and December 31, 2018, respectively. September 30, 2019 Gross Amounts Recognized Gross Amounts Offset in the Statements of Condition Amounts Presented in the Statements of Financial Condition Gross Amounts Not Offset in the Statements of Financial Condition Net Amount Financial Cash Collateral Pledged * Assets Futures $ 852,080 $ (852,080) $ - $ - $ - $ - Forwards 1,956,687 (1,622,235) 334,452 - - 334,452 Total assets $ 2,808,767 $ (2,474,315) $ 334,452 $ - $ - $ 334,452 Liabilities Futures $ (891,156) $ 852,080 $ (39,076) $ - $ - $ (39,076) Forwards (1,622,235) 1,622,235 - - - - Total liabilities $ (2,513,391) $ 2,474,315 $ (39,076) $ - $ - $ (39,076) Net fair value $ 295,376 * December 31, 2018 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial Condition Amounts Presented in the Statements of Financial Condition Gross Amounts Not Offset in the Statements of Financial Condition Net Amount Financial Instruments Cash Collateral Received/ Pledged * Assets Futures $ 561,881 $ (275,263) $ 286,618 $ - $ - $ 286,618 Forwards 1,333,455 (853,932) 479,523 - - 479,523 Total assets $ 1,895,336 $ (1,129,195) $ 766,141 $ - $ - $ 766,141 Liabilities Futures $ (275,263) $ 275,263 $ - $ - $ - $ - Forwards (853,932) 853,932 - - - - Total liabilities $ (1,129,195) $ 1,129,195 $ - $ - $ - $ - Net fair value $ 766,141 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s non-exchange-traded
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 for the Partnership as of September 30, 2019 and December 31, 2018, respectively. Assets September 30, 2019 Futures Contracts Energy $ 151,258 Grains 30,658 Indices 228,839 Interest Rates U.S. 13,548 Interest Rates Non-U.S. 279,976 Livestock 70,490 Metals 63,540 Softs 13,771 Total unrealized appreciation on open futures contracts 852,080 Liabilities Futures Contracts Energy (30,394) Grains (64,197) Indices (88,017) Interest Rates U.S. (130,740) Interest Rates Non-U.S. (394,929) Livestock (42,750) Metals (75,143) Softs (64,986) Total unrealized depreciation on open futures contracts (891,156) Net unrealized depreciation on open futures contracts $ (39,076) * Assets Forward Contracts Currencies $ 1,639,658 Metals 317,029 Total unrealized appreciation on open forward contracts 1,956,687 Liabilities Forward Contracts Currencies (1,318,988) Metals (303,247) Total unrealized depreciation on open forward contracts (1,622,235) Net unrealized appreciation on open forward contracts $ 334,452 ** * This amount is in “Net unrealized depreciation on open futures contracts” in the Partnership’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Partnership’s Statements of Financial Condition. Assets December 31, 2018 Futures Contracts Energy $ 63,201 Grains 67,071 Indices 67,303 Interest Rates U.S. 40,484 Interest Rates Non-U.S. 191,985 Livestock 30 Metals 23,908 Softs 107,899 Total unrealized appreciation on open futures contracts 561,881 Liabilities Futures Contracts Energy (83,350 ) Grains (930 ) Indices (67,877 ) Interest Rates U.S. (112,616 ) Interest Rates Non-U.S. (8,061 ) Livestock (1,043 ) Metals (400 ) Softs (986 ) Total unrealized depreciation on open futures contracts (275,263 ) Net unrealized appreciation on open futures contracts $ 286,618 * Assets Forward Contracts Currencies $ 1,162,260 Metals 171,195 Total unrealized appreciation on open forward contracts 1,333,455 Liabilities Forward Contracts Currencies (727,182 ) Metals (126,750 ) Total unrealized depreciation on open forward contracts (853,932 ) Net unrealized appreciation on open forward contracts $ 479,523 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Partnership’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Partnership’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 and nine months ended September 30, 2019 and 2018, respectively. Three Months Ended September 30, Nine Months Ended September 30, Sector 2019 2018 2019 2018 Currencies $ 571,646 $ 108,024 $ (199,808) $ 158,726 Energy (359,241) (51,507) (806,982) 497,103 Grains 275,381 (78,802) (146,016) (392,429) Indices 574,526 151,656 2,499,518 (908,695) Interest Rates U.S. (103,624) 88,921 818,595 459,146 Interest Rates Non-U.S. 1,658,146 (286,967) 4,942,050 (289,000) Livestock 40,638 (46,175) 151,390 (130,268) Metals 62,463 (64,712) (509,993) (523,795) Softs 111,144 138,300 (33,659) 210,212 Total $ 2,831,079 * $ (41,262) * $ 6,715,095 * $ (919,000) * * This amount is in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Derivative Instrument Fair Value Based on Hierarchy	September 30, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 852,080 $ 852,080 $ - $ - Forwards 1,956,687 - 1,956,687 - Total assets $ 2,808,767 $ 852,080 $ 1,956,687 $ - Liabilities Futures $ 891,156 $ 891,156 $ - $ - Forwards 1,622,235 - 1,622,235 - Total liabilities $ 2,513,391 $ 891,156 $ 1,622,235 $ - December 31, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 561,881 $ 561,881 $ - $ - Forwards 1,333,455 - 1,333,455 - Total assets $ 1,895,336 $ 561,881 $ 1,333,455 $ - Liabilities Futures $ 275,263 $ 275,263 $ - $ - Forwards 853,932 - 853,932 - Total liabilities $ 1,129,195 $ 275,263 $ 853,932 $ -

Organization - Additional Infor

Organization - Additional Information (Detail) - $ / shares	Jan. 01, 2019	Jan. 01, 2017	Sep. 30, 2019	Jul. 01, 2016
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of General Partner fee	0.90%
Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ongoing selling agent fee			2.00%
Class Z [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Redeemable units per share				$ 1,000
Minimum [Member] | General Partner [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of expenses to net assets to be covered by General Partner		0.50%

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash held for margin requirements	$ 9,851,055	$ 3,230,953
Cash denominated in foreign currencies	170,530	380,451
Cost of foreign currencies	170,554	$ 379,908
Uncertain tax position	$ 0
Open tax year	2015 2016 2017 2018

Financial Highlights - Financia

Financial Highlights - Financial Highlights for Limited Partner Class (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period			$ 1,230.07
Net asset value per Redeemable Unit, end of period	$ 1,432.19		1,432.19
Class A [Member] | Limited Partners [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	102.09	$ (2.14)	236.06	$ (57.98)
Net investment loss	(11.92)	(11.66)	(33.94)	(37.57)
Increase (decrease) for the period	90.17	(13.80)	202.12	(95.55)
Net asset value per Redeemable Unit, beginning of period	1,342.02	1,276.73	1,230.07	1,358.48
Net asset value per Redeemable Unit, end of period	$ 1,432.19	$ 1,262.93	$ 1,432.19	$ 1,262.93
Ratios to Average Limited Partners' Capital:
Net investment loss	(3.40%)	(3.70%)	(3.50%)	(3.90%)
Operating expenses before expenses borne by the General Partner and incentive fees	5.30%	6.40%	5.50%	6.30%
Expenses borne by the General Partner	(0.20%)	(1.00%)	(0.20%)	(0.90%)
Incentive fees	0.00%	0.00%	0.00%	0.00%
Operating expenses after expenses borne by the General Partner and incentive fees	5.10%	5.40%	5.30%	5.40%
Total return:
Total return before incentive fees	6.70%	(1.10%)	16.40%	(7.00%)
Incentive fees	0.00%	0.00%	0.00%	0.00%
Total return after incentive fees	6.70%	(1.10%)	16.40%	(7.00%)
Class Z [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period			$ 866.38
Net asset value per Redeemable Unit, end of period	$ 1,024.07		1,024.07
Class Z [Member] | Limited Partners [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	72.62		167.57
Net investment loss	(3.33)		(9.88)
Increase (decrease) for the period	69.29		157.69
Net asset value per Redeemable Unit, beginning of period	954.78		866.38
Net asset value per Redeemable Unit, end of period	$ 1,024.07		$ 1,024.07
Ratios to Average Limited Partners' Capital:
Net investment loss	(1.30%)		(1.40%)
Operating expenses before expenses borne by the General Partner and incentive fees	3.20%		3.40%
Expenses borne by the General Partner	(0.20%)		(0.20%)
Incentive fees	0.00%		0.00%
Operating expenses after expenses borne by the General Partner and incentive fees	3.00%		3.20%
Total return:
Total return before incentive fees	7.30%		18.20%
Incentive fees	0.00%		0.00%
Total return after incentive fees	7.30%		18.20%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Contract	Sep. 30, 2018USD ($)Contract	Sep. 30, 2019USD ($)Contract	Sep. 30, 2018USD ($)Contract
Trading Activity, Gains and Losses, Net [Line Items]
Monthly average number of futures contracts traded	2,885		3,305
Monthly average number of metals forward contracts traded	567		475
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional values of currency forward contracts | $	$ 642,832,216		$ 660,522,968
CMF Campbell Master Fund L.P. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Monthly average number of futures contracts traded		1,286		1,327
Monthly average number of metals forward contracts traded		145		152
CMF Campbell Master Fund L.P. [Member] | Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional values of currency forward contracts | $		$ 154,752,785		$ 159,450,559

Trading Activities - Summary of

Trading Activities - Summary of Valuation of Investments (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 2,808,767	$ 1,895,336
Gross Amounts Offset in the Statements of Financial Condition, Assets	(2,474,315)	(1,129,195)
Amounts Presented in the Statements of Financial Condition, Assets	334,452	766,141
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	334,452	766,141
Gross Amounts Recognized, Liabilities	(2,513,391)	(1,129,195)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	2,474,315	1,129,195
Amounts Presented in the Statements of Financial Condition, Liabilities	(39,076)	0
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	(39,076)	0
Net fair value	295,376	766,141
Futures [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	852,080	561,881
Gross Amounts Offset in the Statements of Financial Condition, Assets	(852,080)	(275,263)
Amounts Presented in the Statements of Financial Condition, Assets	0	286,618
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	0	286,618
Gross Amounts Recognized, Liabilities	(891,156)	(275,263)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	852,080	275,263
Amounts Presented in the Statements of Financial Condition, Liabilities	(39,076)	0
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	(39,076)	0
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	1,956,687	1,333,455
Gross Amounts Offset in the Statements of Financial Condition, Assets	(1,622,235)	(853,932)
Amounts Presented in the Statements of Financial Condition, Assets	334,452	479,523
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	334,452	479,523
Gross Amounts Recognized, Liabilities	(1,622,235)	(853,932)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	1,622,235	853,932
Amounts Presented in the Statements of Financial Condition, Liabilities	0	0
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	$ 0	$ 0

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts as Separate Assets and Liabilities (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Futures [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	$ 852,080	$ 561,881
Total unrealized depreciation on open contracts	(891,156)	(275,263)
Net unrealized appreciation (depreciation) on open contracts	(39,076)	286,618
Futures [Member] | Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	151,258	63,201
Total unrealized depreciation on open contracts	(30,394)	(83,350)
Futures [Member] | Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	30,658	67,071
Total unrealized depreciation on open contracts	(64,197)	(930)
Futures [Member] | Indices [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	228,839	67,303
Total unrealized depreciation on open contracts	(88,017)	(67,877)
Futures [Member] | Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	13,548	40,484
Total unrealized depreciation on open contracts	(130,740)	(112,616)
Futures [Member] | Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	279,976	191,985
Total unrealized depreciation on open contracts	(394,929)	(8,061)
Futures [Member] | Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	70,490	30
Total unrealized depreciation on open contracts	(42,750)	(1,043)
Futures [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	63,540	23,908
Total unrealized depreciation on open contracts	(75,143)	(400)
Futures [Member] | Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	13,771	107,899
Total unrealized depreciation on open contracts	(64,986)	(986)
Forward Contracts [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	1,956,687	1,333,455
Total unrealized depreciation on open contracts	(1,622,235)	(853,932)
Net unrealized appreciation (depreciation) on open contracts	334,452	479,523
Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	317,029	171,195
Total unrealized depreciation on open contracts	(303,247)	(126,750)
Forward Contracts [Member] | Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	1,639,658	1,162,260
Total unrealized depreciation on open contracts	$ (1,318,988)	$ (727,182)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses, by Market Sector, on Derivative Instruments (Detail) - CMF Campbell Master Fund L.P. [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Trading gains and losses	$ 2,831,079	$ (41,262)	$ 6,715,095	$ (919,000)
Currencies [Member]
Derivative [Line Items]
Trading gains and losses	571,646	108,024	(199,808)	158,726
Energy [Member]
Derivative [Line Items]
Trading gains and losses	(359,241)	(51,507)	(806,982)	497,103
Grains [Member]
Derivative [Line Items]
Trading gains and losses	275,381	(78,802)	(146,016)	(392,429)
Indices [Member]
Derivative [Line Items]
Trading gains and losses	574,526	151,656	2,499,518	(908,695)
Interest Rates U.S. [Member]
Derivative [Line Items]
Trading gains and losses	(103,624)	88,921	818,595	459,146
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Trading gains and losses	1,658,146	(286,967)	4,942,050	(289,000)
Livestock [Member]
Derivative [Line Items]
Trading gains and losses	40,638	(46,175)	151,390	(130,268)
Metals [Member]
Derivative [Line Items]
Trading gains and losses	62,463	(64,712)	(509,993)	(523,795)
Softs [Member]
Derivative [Line Items]
Trading gains and losses	$ 111,144	$ 138,300	$ (33,659)	$ 210,212

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Fair Value Based on Hierarchy (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 2,808,767	$ 1,895,336
Derivative liabilities	2,513,391	1,129,195
Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	852,080	561,881
Derivative liabilities	891,156	275,263
Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,956,687	1,333,455
Derivative liabilities	1,622,235	853,932
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	852,080	561,881
Derivative liabilities	891,156	275,263
Level 1 [Member] | Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	852,080	561,881
Derivative liabilities	891,156	275,263
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,956,687	1,333,455
Derivative liabilities	1,622,235	853,932
Level 2 [Member] | Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1,956,687	1,333,455
Derivative liabilities	$ 1,622,235	$ 853,932

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Concentration Risk [Line Items]
Financial instruments maturity period	1 year
Credit Concentration Risk [Member] | Partnership's Contracts [Member] | Over the Counter [Member] | Minimum [Member]
Concentration Risk [Line Items]
Concentration risk percentage	49.10%
Credit Concentration Risk [Member] | Partnership's Contracts [Member] | Over the Counter [Member] | Maximum [Member]
Concentration Risk [Line Items]
Concentration risk percentage	64.70%