Potomac Futures Fund (POTO) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
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		21,571.7288
Class Z [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22.3230

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Equity in trading account:
Unrestricted cash	$ 33,143,277	$ 25,418,567
Restricted cash	757,609	10,484,390
Net unrealized appreciation on open forward contracts	2,293,668	0
Total equity in trading account	36,194,554	35,902,957
Interest receivable	11,702	38,067
Total assets	36,206,256	35,941,024
Liabilities:
Net unrealized depreciation on open contracts	158,387	1,127,120
Accrued expenses:
Ongoing selling agent fees	59,344	57,335
Management fees	44,738	43,144
General Partner fees	26,843	25,886
Professional fees	198,178	241,545
Redemptions payable to Limited Partners	1,039,079	267,526
Total liabilities	1,526,569	1,762,556
Partners' Capital:
Total partners' capital (net asset value)	34,679,687	34,178,468
Total liabilities and partners' capital	36,206,256	35,941,024
Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation on open forward contracts	2,293,668	0
Liabilities:
Net unrealized depreciation on open contracts	0	681,111
Futures [Member]
Equity in trading account:
Net unrealized appreciation on open forward contracts	0	0
Liabilities:
Net unrealized depreciation on open contracts	158,387	446,009
Class A [Member]
Partners' Capital:
Limited Partners	34,241,723	33,769,421
Total partners' capital (net asset value)	$ 34,241,723	$ 33,769,421
Net asset value per Redeemable Unit	$ 1,394.51	$ 1,309.01
Class Z [Member]
Partners' Capital:
General Partner, Class Z, 412.4990 outstanding at March 31, 2020 and December 31, 2019	$ 415,480	$ 388,047
Limited Partners	22,484	21,000
Total partners' capital (net asset value)	$ 437,964	$ 409,047
Net asset value per Redeemable Unit	$ 1,007.23	$ 940.72

Statements of Financial Condi_2

Statements of Financial Condition (Parenthetical) - shares	Mar. 31, 2020	Dec. 31, 2019
Class A [Member]
Limited Partners Redeemable Units outstanding	24,554.6788	25,797.7368
Class Z [Member]
General Partner Redeemable Units outstanding	412.4990	412.4990
Limited Partners Redeemable Units outstanding	22.3230	22.3230

Condensed Schedule of Investmen

Condensed Schedule of Investments		Mar. 31, 2020USD ($)Derivative		Dec. 31, 2019USD ($)Derivative
Futures [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation and depreciation on open contracts		$ (158,387)		$ (446,009)
Percentage of Partners' Capital		(0.46%)		(1.30%)
Total unrealized appreciation on open contracts		$ 242,170		$ 757,718
Total unrealized depreciation on open contracts		(400,557)		(1,203,727)
Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		$ (54,036)		$ (333,904)
Percentage of Partners' Capital		(0.16%)		(0.98%)
Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		$ (104,351)		$ (112,105)
Percentage of Partners' Capital		(0.30%)		(0.32%)
Metals [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 8,637		$ 142,058
Total unrealized depreciation on open contracts		$ (35,050)		$ (4,595)
Metals [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1		34
Investment, Fair Value		$ (27,611)		$ 136,400
Percentage of Partners' Capital		(0.08%)		0.40%
Metals [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		5		14
Investment, Fair Value		$ 1,198		$ 1,063
Percentage of Partners' Capital	[1]	0.00%		0.00%
Energy [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 79,237		$ 222,120
Total unrealized depreciation on open contracts				$ (23,343)
Energy [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1		126
Investment, Fair Value		$ 84		$ 132,267
Percentage of Partners' Capital		0.00%	[1]	0.39%
Energy [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		40		124
Investment, Fair Value		$ 79,153		$ 66,510
Percentage of Partners' Capital		0.23%		0.19%
Grains [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 40,685		$ 15,267
Total unrealized depreciation on open contracts		$ (13,764)		$ (188,403)
Grains [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		20		97
Investment, Fair Value		$ 32,716		$ 11,742
Percentage of Partners' Capital		0.09%		0.03%
Grains [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		24		100
Investment, Fair Value		$ (5,795)		$ (184,878)
Percentage of Partners' Capital		(0.02%)		(0.53%)
Indices [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 6,499		$ 167,959
Total unrealized depreciation on open contracts		$ (158,647)		$ (125,346)
Indices [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		14		302
Investment, Fair Value		$ (46,784)		$ 33,970
Percentage of Partners' Capital		(0.13%)		0.10%
Indices [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		33		37
Investment, Fair Value		$ (105,364)		$ 8,643
Percentage of Partners' Capital		(0.30%)		0.03%
Interest Rates U.S. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 40,540		$ 54,968
Total unrealized depreciation on open contracts		$ (28,937)		$ (35,983)
Interest Rates U.S. [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		39		326
Investment, Fair Value		$ 35,977		$ (8,797)
Percentage of Partners' Capital		0.10%		(0.03%)
Interest Rates U.S. [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		49		77
Investment, Fair Value		$ (24,374)		$ 27,782
Percentage of Partners' Capital		(0.07%)		0.08%
Interest Rates Non-U.S. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 61,007		$ 150,708
Total unrealized depreciation on open contracts		$ (116,504)		$ (680,331)
Interest Rates Non-U.S. [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		459		1,593
Investment, Fair Value		$ (8,888)		$ (640,186)
Percentage of Partners' Capital		(0.03%)		(1.87%)
Interest Rates Non-U.S. [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		33		245
Investment, Fair Value		$ (46,609)		$ 110,563
Percentage of Partners' Capital		(0.13%)		0.32%
Livestock [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 4,975		$ 2,320
Total unrealized depreciation on open contracts				$ (14,750)
Livestock [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1		40
Investment, Fair Value		$ 4,975		$ (12,430)
Percentage of Partners' Capital		0.01%		(0.04%)
Softs [Member] | Futures [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		$ 590		$ 2,318
Total unrealized depreciation on open contracts		$ (47,655)		$ (130,976)
Softs [Member] | Contracts Purchased [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		19		7
Investment, Fair Value		$ (39,530)		$ 700
Percentage of Partners' Capital		(0.11%)		0.00%	[1]
Softs [Member] | Contracts Sold [Member] | Futures [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		3		103
Investment, Fair Value		$ (7,535)		$ (129,358)
Percentage of Partners' Capital		(0.02%)		(0.37%)
Forward Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation and depreciation on open contracts		$ 2,293,668		$ (681,111)
Percentage of Partners' Capital		6.61%		(1.99%)
Total unrealized appreciation on open contracts		$ 6,591,504		$ 3,084,676
Total unrealized depreciation on open contracts		(4,297,836)		(3,765,787)
Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Total unrealized appreciation on open contracts		1,478,902		442,448
Total unrealized depreciation on open contracts		(821,600)		(827,607)
Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Notional		102,252,396		172,288,041
Total unrealized appreciation on open contracts		5,112,602		2,642,228
Notional		88,253,534		185,693,020
Total unrealized depreciation on open contracts		$ (3,476,236)		$ (2,938,180)
Unrealized Appreciation [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		19.00%		9.03%
Unrealized Appreciation [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		204		137
Percentage of Partners' Capital		4.26%		1.29%
Unrealized Appreciation [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		14.74%		7.74%
Unrealized Depreciation [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		(12.39%)		(11.02%)
Unrealized Depreciation [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		159		235
Percentage of Partners' Capital		(2.37%)		(2.42%)
Unrealized Depreciation [Member] | Forward Contracts [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Percentage of Partners' Capital		(10.02%)		(8.60%)
[1]	Due to rounding.

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Investment Income:
Interest income		$ 94,104	$ 187,504
Total investment income		94,104	187,504
Expenses:
Clearing fees related to direct investments		61,107	57,939
Ongoing selling agent fees		179,765	184,827
Management fees		135,486	139,729
General Partner fees		81,292	83,838
Professional fees		0	76,836
Total expenses		457,650	543,169
Expenses borne by the General Partner		0	(30,842)
Net expenses		457,650	512,327
Net investment loss		(363,546)	(324,823)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts		(660,045)	988,787
Net change in unrealized gains (losses) on open contracts		3,258,096	510,198
Total trading results		2,598,051	1,498,985
Net income (loss)		2,234,505	1,174,162
Class A [Member]
Net gains (losses) on trading of commodity interests:
Net income (loss)		$ 2,205,588	$ 1,155,226
Net income (loss) per Redeemable Unit	[1]	$ 85.50	$ 39.96
Weighted average Redeemable Units outstanding		25,550.9841	29,825.4568
Class Z [Member]
Net gains (losses) on trading of commodity interests:
Net income (loss)		$ 28,917	$ 18,936
Net income (loss) per Redeemable Unit	[1]	$ 66.51	$ 32.65
Weighted average Redeemable Units outstanding		434.8220	580.0420
[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 Z [Member]	Class Z [Member]Limited Partners [Member]	Class Z [Member]General Partner [Member]
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		$ 20,354,371	$ 269,705		$ 20,335,031		$ 19,340	$ 269,705
Subscriptions, Redeemable Units		16,553.9280	311.3000		16,531.6050		22.3230	311.3000
Redemptions		$ (1,774,050)			$ (1,774,050)
Redemptions, Redeemable Units		(1,441.4770)			(1,441.4770)
Net income (loss)	$ 1,174,162			$ 1,155,226		$ 18,936
Partners' Capital, end of period at Mar. 31, 2019	$ 37,212,945			$ 36,691,472		$ 521,473
Partners' Capital, Redeemable Units, end of period at Mar. 31, 2019	29,470.3898			28,890.3478		580.0420
Partners' Capital, beginning of period at Dec. 31, 2019	$ 34,178,468			$ 33,769,421		$ 409,047
Partners' Capital, Redeemable Units, beginning of period at Dec. 31, 2019	26,232.5588			25,797.7368		434.8220
Redemptions		$ (1,733,286)			$ (1,733,286)		$ 0
Redemptions, Redeemable Units		(1,243.0580)			(1,243.0580)		0
Net income (loss)	$ 2,234,505			$ 2,205,588		$ 28,917
Partners' Capital, end of period at Mar. 31, 2020	$ 34,679,687			$ 34,241,723		$ 437,964
Partners' Capital, Redeemable Units, end of period at Mar. 31, 2020	24,989.5008			24,554.6788		434.8220

Organization

Organization	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and 2019, the Partnership’s commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. 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 March 31, 2020. 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. The General Partner has 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, 2020
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, 2020, the results of its operations and the changes in partners’ capital for the three months ended March 31, 2020 and 2019. 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	3 Months Ended
	Mar. 31, 2020
Investment Company [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2020 and 2019 were as follows: Three Months Ended Three Months Ended March 31, 2019 Class A Class Z Class A Class Z Per Redeemable Unit Performance (for a Net realized and unrealized $ 99.64 $ 71.64 $ 50.79 $ 35.92 Net investment loss (14.14) (5.13) (10.83) (3.27) Increase (decrease) for the period 85.50 66.51 39.96 32.65 Net asset value per Redeemable Unit, 1,309.01 940.72 1,230.07 866.38 Net asset value per Redeemable Unit, $ 1,394.51 $ 1,007.23 $ 1,270.03 $ 899.03 Three Months Ended Three Months Ended Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.2) % (2.1) % (3.6) % (1.5) % Operating expenses 5.3 % 3.1 % 6.0 % 3.9 % Expenses borne by the General Partner - % - % (0.3) % (0.3) % Incentive fees - % - % - % - % Total expenses 5.3 % 3.1 % 5.7 % 3.6 % Total return: Total return before incentive fees 6.5 % 7.1 % 3.2 % 3.8 % Incentive fees - % - % - % - % Total return after incentive fees 6.5 % 7.1 % 3.2 % 3.8 % * 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	3 Months Ended
	Mar. 31, 2020
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 and foreign exchange brokerage account agreement 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. for direct trading 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 March 31, 2020 and 2019 were 2,170 and 3,388, respectively. The monthly average number of metals forward contracts traded by the Partnership during the three months ended March 31, 2020 and 2019 were 576 and 361, respectively. The monthly average notional values of currency forward contracts traded by the Partnership during the three months ended March 31, 2020 and 2019 were $523,817,619 and $578,070,342, 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 March 31, 2020 and December 31, 2019, respectively. Gross Amounts Offset in the Amounts Presented in the Gross Amounts Not Offset in the March 31, 2020 Gross Amounts Financial Cash Collateral Net Amount Assets Futures $ 242,170 $ (242,170) $ - $ - $ - $ - Forwards 6,591,504 (4,297,836) 2,293,668 - - 2,293,668 Total assets $ 6,833,674 $ (4,540,006) $ 2,293,668 $ - $ - $ 2,293,668 Liabilities Futures $ (400,557) $ 242,170 $ (158,387) $ - $ 158,387 $ - Forwards (4,297,836) 4,297,836 - - - - Total liabilities $ (4,698,393) $ 4,540,006 $ (158,387) $ - $ 158,387 $ - Net fair value $ 2,293,668 * Gross Amounts Amounts Statements of Gross Amounts Not Offset in the December 31, 2019 Gross Amounts Financial Cash Collateral Net Amount Assets Futures $ 757,718 $ (757,718) $ - $ - $ - $ - Forwards 3,084,676 (3,084,676) - - - - Total assets $ 3,842,394 $ (3,842,394) $ - $ - $ - $ - Liabilities Futures $ (1,203,727) $ 757,718 $ (446,009) $ - $ 446,009 $ - Forwards (3,765,787) 3,084,676 (681,111) - 681,111 - Total liabilities $ (4,969,514) $ 3,842,394 $ (1,127,120) $ - $ 1,127,120 $ - Net fair value $ - * * 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 March 31, 2020 and December 31, 2019, respectively. March 31, 2020 Assets Futures Contracts Energy $ 79,237 Grains 40,685 Indices 6,499 Interest Rates U.S. 40,540 Interest Rates Non-U.S. 61,007 Livestock 4,975 Metals 8,637 Softs 590 Total unrealized appreciation on open futures contracts 242,170 Liabilities Futures Contracts Grains (13,764) Indices (158,647) Interest Rates U.S. (28,937) Interest Rates Non-U.S. (116,504) Metals (35,050) Softs (47,655) Total unrealized depreciation on open futures contracts (400,557) Net unrealized depreciation on open futures contracts $ (158,387) * Assets Forward Contracts Currencies $ 5,112,602 Metals 1,478,902 Total unrealized appreciation on open forward contracts 6,591,504 Liabilities Forward Contracts Currencies (3,476,236) Metals (821,600) Total unrealized depreciation on open forward contracts (4,297,836) Net unrealized appreciation on open forward contracts $ 2,293,668 ** * 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. December 31, 2019 Assets Futures Contracts Energy $ 222,120 Grains 15,267 Indices 167,959 Interest Rates U.S. 54,968 Interest Rates Non-U.S. 150,708 Livestock 2,320 Metals 142,058 Softs 2,318 Total unrealized appreciation on open futures contracts 757,718 Liabilities Futures Contracts Energy (23,343) Grains (188,403) Indices (125,346) Interest Rates U.S. (35,983) Interest Rates Non-U.S. (680,331) Livestock (14,750) Metals (4,595) Softs (130,976) Total unrealized depreciation on open futures contracts (1,203,727) Net unrealized depreciation on open futures contracts $ (446,009) * Assets Forward Contracts Currencies $ 2,642,228 Metals 442,448 Total unrealized appreciation on open forward contracts 3,084,676 Liabilities Forward Contracts Currencies (2,938,180) Metals (827,607) Total unrealized depreciation on open forward contracts (3,765,787) Net unrealized depreciation on open forward contracts $ (681,111) ** * 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 depreciation 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 months ended March 31, 2020 and 2019, respectively. Three Months Ended Sector 2020 2019 Currencies $ 2,456,638 $ (415,202) Energy 1,028,374 (487,897) Grains 42,657 374,606 Indices (4,192,851) 798,253 Interest Rates U.S. 273,515 428,301 Interest Rates Non-U.S. 1,635,396 1,286,284 Livestock 499,355 (47,483) Metals 1,054,981 (230,465) Softs (200,014) (207,412) Total $ 2,598,051 *** $ 1,498,985 *** *** This amount is in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 Total Level 1 Level 2 Level 3 Assets Futures $ 242,170 $ 242,170 $ - $ - Forwards 6,591,504 - 6,591,504 - Total assets $ 6,833,674 $ 242,170 $ 6,591,504 $ - Liabilities Futures $ 400,557 $ 400,557 $ - $ - Forwards 4,297,836 - 4,297,836 - Total liabilities $ 4,698,393 $ 400,557 $ 4,297,836 $ - December 31, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 757,718 $ 757,718 $ - $ - Forwards 3,084,676 - 3,084,676 - Total assets $ 3,842,394 $ 757,718 $ 3,084,676 $ - Liabilities Futures $ 1,203,727 $ 1,203,727 $ - $ - Forwards 3,765,787 - 3,765,787 - Total liabilities $ 4,969,514 $ 1,203,727 $ 3,765,787 $ -

Financial Instrument Risks

Financial Instrument Risks	3 Months Ended
	Mar. 31, 2020
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 Metal 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 General Partner considers the risk of any future obligation relating to these indemnifications to be remote.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
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)	3 Months Ended
	Mar. 31, 2020
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)	3 Months Ended
	Mar. 31, 2020
Investment Company [Abstract]
Financial Highlights for Limited Partner Class	Financial highlights for the limited partner class as a whole for the three months ended March 31, 2020 and 2019 were as follows: Three Months Ended Three Months Ended March 31, 2019 Class A Class Z Class A Class Z Per Redeemable Unit Performance (for a Net realized and unrealized $ 99.64 $ 71.64 $ 50.79 $ 35.92 Net investment loss (14.14) (5.13) (10.83) (3.27) Increase (decrease) for the period 85.50 66.51 39.96 32.65 Net asset value per Redeemable Unit, 1,309.01 940.72 1,230.07 866.38 Net asset value per Redeemable Unit, $ 1,394.51 $ 1,007.23 $ 1,270.03 $ 899.03 Three Months Ended Three Months Ended Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.2) % (2.1) % (3.6) % (1.5) % Operating expenses 5.3 % 3.1 % 6.0 % 3.9 % Expenses borne by the General Partner - % - % (0.3) % (0.3) % Incentive fees - % - % - % - % Total expenses 5.3 % 3.1 % 5.7 % 3.6 % Total return: Total return before incentive fees 6.5 % 7.1 % 3.2 % 3.8 % Incentive fees - % - % - % - % Total return after incentive fees 6.5 % 7.1 % 3.2 % 3.8 % * 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)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and December 31, 2019, respectively. Gross Amounts Offset in the Amounts Presented in the Gross Amounts Not Offset in the March 31, 2020 Gross Amounts Financial Cash Collateral Net Amount Assets Futures $ 242,170 $ (242,170) $ - $ - $ - $ - Forwards 6,591,504 (4,297,836) 2,293,668 - - 2,293,668 Total assets $ 6,833,674 $ (4,540,006) $ 2,293,668 $ - $ - $ 2,293,668 Liabilities Futures $ (400,557) $ 242,170 $ (158,387) $ - $ 158,387 $ - Forwards (4,297,836) 4,297,836 - - - - Total liabilities $ (4,698,393) $ 4,540,006 $ (158,387) $ - $ 158,387 $ - Net fair value $ 2,293,668 * Gross Amounts Amounts Statements of Gross Amounts Not Offset in the December 31, 2019 Gross Amounts Financial Cash Collateral Net Amount Assets Futures $ 757,718 $ (757,718) $ - $ - $ - $ - Forwards 3,084,676 (3,084,676) - - - - Total assets $ 3,842,394 $ (3,842,394) $ - $ - $ - $ - Liabilities Futures $ (1,203,727) $ 757,718 $ (446,009) $ - $ 446,009 $ - Forwards (3,765,787) 3,084,676 (681,111) - 681,111 - Total liabilities $ (4,969,514) $ 3,842,394 $ (1,127,120) $ - $ 1,127,120 $ - Net fair value $ - * * 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 March 31, 2020 and December 31, 2019, respectively. March 31, 2020 Assets Futures Contracts Energy $ 79,237 Grains 40,685 Indices 6,499 Interest Rates U.S. 40,540 Interest Rates Non-U.S. 61,007 Livestock 4,975 Metals 8,637 Softs 590 Total unrealized appreciation on open futures contracts 242,170 Liabilities Futures Contracts Grains (13,764) Indices (158,647) Interest Rates U.S. (28,937) Interest Rates Non-U.S. (116,504) Metals (35,050) Softs (47,655) Total unrealized depreciation on open futures contracts (400,557) Net unrealized depreciation on open futures contracts $ (158,387) * Assets Forward Contracts Currencies $ 5,112,602 Metals 1,478,902 Total unrealized appreciation on open forward contracts 6,591,504 Liabilities Forward Contracts Currencies (3,476,236) Metals (821,600) Total unrealized depreciation on open forward contracts (4,297,836) Net unrealized appreciation on open forward contracts $ 2,293,668 ** * 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. December 31, 2019 Assets Futures Contracts Energy $ 222,120 Grains 15,267 Indices 167,959 Interest Rates U.S. 54,968 Interest Rates Non-U.S. 150,708 Livestock 2,320 Metals 142,058 Softs 2,318 Total unrealized appreciation on open futures contracts 757,718 Liabilities Futures Contracts Energy (23,343) Grains (188,403) Indices (125,346) Interest Rates U.S. (35,983) Interest Rates Non-U.S. (680,331) Livestock (14,750) Metals (4,595) Softs (130,976) Total unrealized depreciation on open futures contracts (1,203,727) Net unrealized depreciation on open futures contracts $ (446,009) * Assets Forward Contracts Currencies $ 2,642,228 Metals 442,448 Total unrealized appreciation on open forward contracts 3,084,676 Liabilities Forward Contracts Currencies (2,938,180) Metals (827,607) Total unrealized depreciation on open forward contracts (3,765,787) Net unrealized depreciation on open forward contracts $ (681,111) ** * 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 depreciation 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 months ended March 31, 2020 and 2019, respectively. Three Months Ended Sector 2020 2019 Currencies $ 2,456,638 $ (415,202) Energy 1,028,374 (487,897) Grains 42,657 374,606 Indices (4,192,851) 798,253 Interest Rates U.S. 273,515 428,301 Interest Rates Non-U.S. 1,635,396 1,286,284 Livestock 499,355 (47,483) Metals 1,054,981 (230,465) Softs (200,014) (207,412) Total $ 2,598,051 *** $ 1,498,985 *** *** This amount is in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Derivative Instrument Fair Value Based on Hierarchy	March 31, 2020 Total Level 1 Level 2 Level 3 Assets Futures $ 242,170 $ 242,170 $ - $ - Forwards 6,591,504 - 6,591,504 - Total assets $ 6,833,674 $ 242,170 $ 6,591,504 $ - Liabilities Futures $ 400,557 $ 400,557 $ - $ - Forwards 4,297,836 - 4,297,836 - Total liabilities $ 4,698,393 $ 400,557 $ 4,297,836 $ - December 31, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 757,718 $ 757,718 $ - $ - Forwards 3,084,676 - 3,084,676 - Total assets $ 3,842,394 $ 757,718 $ 3,084,676 $ - Liabilities Futures $ 1,203,727 $ 1,203,727 $ - $ - Forwards 3,765,787 - 3,765,787 - Total liabilities $ 4,969,514 $ 1,203,727 $ 3,765,787 $ -

Organization - Additional Infor

Organization - Additional Information (Detail) - $ / shares	Jan. 01, 2019	Jan. 01, 2017	Mar. 31, 2020	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 ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash held for margin requirements	$ 757,609	$ 10,484,390
Cash denominated in foreign currencies	(480,535)	308,671
Cost of foreign currencies	476,426	$ 308,475
Uncertain tax position	$ 0
Open tax year	2016 2017 2018 2019

Financial Highlights - Financia

Financial Highlights - Financial Highlights for Limited Partner Class (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period	$ 1,309.01
Net asset value per Redeemable Unit, end of period	1,394.51
Class A [Member] | Limited Partners [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	99.64	$ 50.79
Net investment loss	(14.14)	(10.83)
Increase (decrease) for the period	85.50	39.96
Net asset value per Redeemable Unit, beginning of period	1,309.01	1,230.07
Net asset value per Redeemable Unit, end of period	$ 1,394.51	$ 1,270.03
Ratios to Average Limited Partners' Capital:
Net investment loss	(4.20%)	(3.60%)
Operating expenses before expenses borne by the General Partner and incentive fees	5.30%	6.00%
Expenses borne by the General Partner		(0.30%)
Operating expenses after expenses borne by the General Partner and incentive fees	5.30%	5.70%
Total return:
Total return before incentive fees	6.50%	3.20%
Total return after incentive fees	6.50%	3.20%
Class Z [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period	$ 940.72
Net asset value per Redeemable Unit, end of period	1,007.23
Class Z [Member] | Limited Partners [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	71.64	$ 35.92
Net investment loss	(5.13)	(3.27)
Increase (decrease) for the period	66.51	32.65
Net asset value per Redeemable Unit, beginning of period	940.72	866.38
Net asset value per Redeemable Unit, end of period	$ 1,007.23	$ 899.03
Ratios to Average Limited Partners' Capital:
Net investment loss	(2.10%)	(1.50%)
Operating expenses before expenses borne by the General Partner and incentive fees	3.10%	3.90%
Expenses borne by the General Partner		(0.30%)
Operating expenses after expenses borne by the General Partner and incentive fees	3.10%	3.60%
Total return:
Total return before incentive fees	7.10%	3.80%
Total return after incentive fees	7.10%	3.80%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)Contract	Mar. 31, 2019USD ($)Contract
Trading Activity, Gains and Losses, Net [Line Items]
Monthly average number of futures contracts traded	2,170
Monthly average number of metals forward contracts traded	576
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional values of currency forward contracts | $	$ 523,817,619
CMF Campbell Master Fund L.P. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Monthly average number of futures contracts traded		3,388
Monthly average number of metals forward contracts traded		361
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 | $		$ 578,070,342

Trading Activities - Summary of

Trading Activities - Summary of Valuation of Investments (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 6,833,674	$ 3,842,394
Gross Amounts Offset in the Statements of Financial Condition, Assets	(4,540,006)	(3,842,394)
Amounts Presented in the Statements of Financial Condition, Assets	2,293,668	0
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	2,293,668	0
Gross Amounts Recognized, Liabilities	(4,698,393)	(4,969,514)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	4,540,006	3,842,394
Amounts Presented in the Statements of Financial Condition, Liabilities	(158,387)	(1,127,120)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	158,387	1,127,120
Net Amount, Liabilities	0	0
Net fair value	2,293,668	0
Futures [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	242,170	757,718
Gross Amounts Offset in the Statements of Financial Condition, Assets	(242,170)	(757,718)
Amounts Presented in the Statements of Financial Condition, Assets	0	0
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	0	0
Gross Amounts Recognized, Liabilities	(400,557)	(1,203,727)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	242,170	757,718
Amounts Presented in the Statements of Financial Condition, Liabilities	(158,387)	(446,009)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	158,387	446,009
Net Amount, Liabilities	0	0
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	6,591,504	3,084,676
Gross Amounts Offset in the Statements of Financial Condition, Assets	(4,297,836)	(3,084,676)
Amounts Presented in the Statements of Financial Condition, Assets	2,293,668	0
Financial Instruments, Assets	0	0
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	2,293,668	0
Gross Amounts Recognized, Liabilities	(4,297,836)	(3,765,787)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	4,297,836	3,084,676
Amounts Presented in the Statements of Financial Condition, Liabilities	0	(681,111)
Financial Instruments, Liabilities	0	0
Collateral Received/Pledged, Liabilities	0	681,111
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 ($)	Mar. 31, 2020	Dec. 31, 2019
Futures [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	$ 242,170	$ 757,718
Total unrealized depreciation on open contracts	(400,557)	(1,203,727)
Net unrealized appreciation (depreciation) on open contracts	(158,387)	(446,009)
Futures [Member] | Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	79,237	222,120
Total unrealized depreciation on open contracts		(23,343)
Futures [Member] | Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	40,685	15,267
Total unrealized depreciation on open contracts	(13,764)	(188,403)
Futures [Member] | Indices [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	6,499	167,959
Total unrealized depreciation on open contracts	(158,647)	(125,346)
Futures [Member] | Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	40,540	54,968
Total unrealized depreciation on open contracts	(28,937)	(35,983)
Futures [Member] | Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	61,007	150,708
Total unrealized depreciation on open contracts	(116,504)	(680,331)
Futures [Member] | Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	4,975	2,320
Total unrealized depreciation on open contracts		(14,750)
Futures [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	8,637	142,058
Total unrealized depreciation on open contracts	(35,050)	(4,595)
Futures [Member] | Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	590	2,318
Total unrealized depreciation on open contracts	(47,655)	(130,976)
Forward Contracts [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	6,591,504	3,084,676
Total unrealized depreciation on open contracts	(4,297,836)	(3,765,787)
Net unrealized appreciation (depreciation) on open contracts	2,293,668	(681,111)
Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	1,478,902	442,448
Total unrealized depreciation on open contracts	(821,600)	(827,607)
Forward Contracts [Member] | Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	5,112,602	2,642,228
Total unrealized depreciation on open contracts	$ (3,476,236)	$ (2,938,180)

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
	Mar. 31, 2020	Mar. 31, 2019
Derivative [Line Items]
Trading gains and losses	$ 2,598,051	$ 1,498,985
Currencies [Member]
Derivative [Line Items]
Trading gains and losses	2,456,638	(415,202)
Energy [Member]
Derivative [Line Items]
Trading gains and losses	1,028,374	(487,897)
Grains [Member]
Derivative [Line Items]
Trading gains and losses	42,657	374,606
Indices [Member]
Derivative [Line Items]
Trading gains and losses	(4,192,851)	798,253
Interest Rates U.S. [Member]
Derivative [Line Items]
Trading gains and losses	273,515	428,301
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Trading gains and losses	1,635,396	1,286,284
Livestock [Member]
Derivative [Line Items]
Trading gains and losses	499,355	(47,483)
Metals [Member]
Derivative [Line Items]
Trading gains and losses	1,054,981	(230,465)
Softs [Member]
Derivative [Line Items]
Trading gains and losses	$ (200,014)	$ (207,412)

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Fair Value Based on Hierarchy (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 6,833,674	$ 3,842,394
Derivative liabilities	4,698,393	4,969,514
Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	242,170	757,718
Derivative liabilities	400,557	1,203,727
Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	6,591,504	3,084,676
Derivative liabilities	4,297,836	3,765,787
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	242,170	757,718
Derivative liabilities	400,557	1,203,727
Level 1 [Member] | Futures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	242,170	757,718
Derivative liabilities	400,557	1,203,727
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	6,591,504	3,084,676
Derivative liabilities	4,297,836	3,765,787
Level 2 [Member] | Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	6,591,504	3,084,676
Derivative liabilities	$ 4,297,836	$ 3,765,787

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
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	0.00%
Credit Concentration Risk [Member] | Partnership's Contracts [Member] | Over the Counter [Member] | Maximum [Member]
Concentration Risk [Line Items]
Concentration risk percentage	55.80%