Ceres Tactical Global 10-Q 9 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	ck0001097396
Entity Registrant Name	CERES TACTICAL CURRENCY L.P.
Entity Central Index Key	1,097,396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		648,289.908
Class Z [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Jun. 30, 2018	Dec. 31, 2017
Assets:
Investment in the Master Fund(s), at fair value	[1]	$ 2,441,059	$ 6,430,471
Redemptions receivable from the Master Fund(s)	[1]	110,076	501,270
Equity in trading account:
Unrestricted cash		3,310,360
Restricted cash		94,867	0
Net unrealized appreciation on open futures contracts		29,677
Total equity in trading accounts		3,434,904
Expense reimbursement receivable		14,357
Cash at bank			1,000
Interest receivable		6,515	1,627
Total assets		6,006,911	6,934,368
Accrued expenses:
Ongoing placement agent fees		9,639	11,824
General Partner fees		3,658	9,460
Management fees		4,858	8,868
Incentive fees		30,370
Professional fees		54,850
Redemptions payable to General Partner			25,000
Redemptions payable to Limited Partners		101,211	446,118
Total liabilities		204,586	501,270
Partners' Capital:
Total partners' capital (net asset value)		5,802,325	6,433,098
Total liabilities and partners' capital		6,006,911	6,934,368
Futures Contracts [Member]
Equity in trading account:
Net unrealized appreciation on open futures contracts		29,677
Class A [Member]
Partners' Capital:
General Partner			70,104
Limited Partners, Class A, 658,148.758 and 744,227.936 Units outstanding at June 30, 2018 and December 31, 2017, respectively		5,730,539	6,362,994
Total partners' capital (net asset value)		$ 5,730,539	$ 6,433,098
Net asset value per Unit		$ 8.71	$ 8.55
Class Z [Member]
Partners' Capital:
General Partner		$ 71,786
Total partners' capital (net asset value)		$ 71,786
Net asset value per Unit		$ 10.22
[1]	Defined in Note 1.

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - shares	Jun. 30, 2018	Dec. 31, 2017
Class A [Member]
General Partner, Units outstanding	0	8,199.927
Limited Partners, Units outstanding	658,148.758	744,227.936
Class Z [Member]
General Partner, Units outstanding	7,027.337	0

Condensed Schedule of Investmen

Condensed Schedule of Investments	Jun. 30, 2018USD ($)Contract
Schedule of Investments [Line Items]
% of Partners' Capital	42.07%
Total investment in the Master Funds	$ 2,441,059	[1]
Cambridge Master Fund L.P. [Member]
Schedule of Investments [Line Items]
% of Partners' Capital	5.64%
Total investment in the Master Funds	$ 327,236
CMF AE Capital Master Fund LLC [Member]
Schedule of Investments [Line Items]
% of Partners' Capital	36.43%
Total investment in the Master Funds	$ 2,113,823
Futures Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts	$ 29,677
% of Partners' Capital	0.51%
Long [Member] | Futures Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts	$ 301
% of Partners' Capital	0.00%	[2]
Long [Member] | Currencies [Member] | Futures Contracts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	2
Net unrealized appreciation (depreciation) on open contracts	$ 301
% of Partners' Capital	0.00%	[2]
Short [Member] | Futures Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts	$ 29,376
% of Partners' Capital	0.51%
Short [Member] | Currencies [Member] | Futures Contracts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	45
Net unrealized appreciation (depreciation) on open contracts	$ 29,470
% of Partners' Capital	0.51%
Short [Member] | Interest Rates U.S. [Member] | Futures Contracts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	1
Net unrealized appreciation (depreciation) on open contracts	$ (94)
% of Partners' Capital	0.00%	[2]
[1]	Defined in Note 1.
[2]	Due to rounding

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investment Income:
Interest income		$ 11,252		$ 20,346
Interest income allocated from the Master Fund(s)		8,912	$ 12,358	16,767	$ 21,440
Total investment income		20,164	12,358	37,113	21,440
Expenses:
Expenses allocated from the Master Funds		5,043		7,319
Clearing fees related to direct investments		7,503		12,580
Ongoing placement agent fees		29,695	44,791	61,452	90,005
General Partner fees		11,268	35,832	23,177	72,003
Management fees		14,968	33,593	29,782	67,503
Incentive fees		30,370		30,370
Professional fees		43,853		90,422
Total expenses		142,700	114,216	255,102	229,511
Expenses borne by the General Partner		(43,629)		(84,055)
Net expenses		99,071	114,216	171,047	229,511
Net investment loss		(78,907)	(101,858)	(133,934)	(208,071)
Net gains (losses) on trading of commodity interests and investment in the Master Funds:
Net realized gains (losses) on closed contracts		269,746		188,267
Net realized gains (losses) on closed contracts allocated from the Master Fund(s)		(84,091)	394,620	(70,934)	705,027
Net change in unrealized gains (losses) on open contracts		(15,311)		29,939
Net change in unrealized gains (losses) on open contracts allocated from the Master Fund(s)		6,719	(213,622)	98,826	318,090
Total trading results		177,063	180,998	246,098	1,023,117
Net income (loss)		$ 98,156	$ 79,140	112,164	815,046
Class A [Member]
Net gains (losses) on trading of commodity interests and investment in the Master Funds:
Net income (loss)				$ 110,652	$ 815,046
Net income (loss) per Unit	[1]	$ 0.14	$ 0.08	$ 0.16	$ 0.82
Weighted average number of Units outstanding		690,429.988	931,844.378	714,323.423	966,815.384
Class Z [Member]
Net gains (losses) on trading of commodity interests and investment in the Master Funds:
Net income (loss)				$ 1,512
Net income (loss) per Unit	[1]	$ 0.22		$ 0.22
Weighted average number of Units outstanding		7,027.337		7,027.337
[1]	Represents the change in net asset value per Unit during the period.

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	General Partner [Member]	Limited Partners [Member]	Class A [Member]	Class A [Member]General Partner [Member]	Class A [Member]Limited Partners [Member]	Class Z [Member]	Class Z [Member]General Partner [Member]
Partners' Capital, beginning of period at Dec. 31, 2016	$ 9,094,995			$ 9,094,995
Redemptions		$ (15,000)	$ (1,275,890)		$ (15,000)	$ (1,275,890)
Net income (loss)	815,046			815,046
Partners' Capital, end of period at Jun. 30, 2017	$ 8,619,151			$ 8,619,151
Partners' Capital, Units, beginning of period at Dec. 31, 2016	1,028,828.887			1,028,828.887
Redemptions (in units)		(1,552.795)	(135,430.781)		(1,552.795)	(135,430.781)
Partners' Capital, Units, end of period at Jun. 30, 2017	891,845.311			891,845.311
Partners' Capital, beginning of period at Dec. 31, 2017	$ 6,433,098			$ 6,433,098
Subscriptions		$ 70,274						$ 70,274
Redemptions		$ (70,239)	$ (742,972)		$ (70,239)	$ (742,972)
Net income (loss)	112,164			110,652			$ 1,512
Partners' Capital, end of period at Jun. 30, 2018	$ 5,802,325			$ 5,730,539			$ 71,786
Partners' Capital, Units, beginning of period at Dec. 31, 2017	752,427.863			752,427.863
Subscriptions (in units)		7,027.337						7,027.337
Redemptions (in units)		(8,199.927)	(86,079.178)		(8,199.927)	(86,079.178)
Partners' Capital, Units, end of period at Jun. 30, 2018	665,176.095			658,148.758			7,027.337

Organization

Organization	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization: Ceres Tactical Currency L.P. (the “Partnership”) is a Delaware limited partnership organized in 1999 to engage primarily in the speculative trading of futures contracts, options on futures and forward contracts, and forward contracts on physical commodities and other commodity interests, including, but not limited to, foreign currencies, financial instruments, metals, energy, and agricultural products (collectively, “Futures Interests”) (refer to Note 4, “Financial Instruments”). The Futures Interests that are traded by the Partnership, either directly, through individually managed accounts, or indirectly, through its investment in the Master Funds (as defined below), are volatile and involve a high degree of market risk. The General Partner (as defined below) may also determine to invest up to all of the Partnership’s assets in United States (“U.S.”) Treasury bills and/or money market mutual funds, including money market mutual funds managed by Morgan Stanley or its affiliates. Prior to the close of business on December 31, 2017, the Partnership was one of the Morgan Stanley Spectrum series of funds, comprised of the Partnership, Morgan Stanley Smith Barney Spectrum Select L.P., Morgan Stanley Smith Barney Spectrum Strategic L.P. and, prior to its termination on December 31, 2017, Morgan Stanley Smith Barney Spectrum Technical L.P. Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (“Ceres” or the “General Partner”) and commodity pool operator of the Partnership, and as the commodity pool operator and general partner or trading manager (in such capacity, the “Trading Manager”) of each Master Fund (as defined below). Ceres is a wholly-owned subsidiary of Morgan Stanley Domestic Holdings, Inc. (“MSD Holdings”). MSD Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial services and other businesses. During the reporting periods ended June 30, 2018 and 2017, the Partnership’s and the Master Funds’ commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. JPMorgan Chase Bank, N.A. (“JPMorgan”) may also act as a foreign exchange forward or swap counterparty for the Partnership/Master Funds. During prior periods included in this report, the Partnership and the Master Funds also deposited a portion of their cash in a non-trading As of June 30, 2018, all trading decisions were made for the Partnership by AE Capital PTY Limited (“AE Capital”), P/E Global LLC (“P/E Global”), Greenwave Capital Management LLC (“Greenwave”) and The Cambridge Strategy (Asset Management) Limited (“Cambridge”) (each individually, a “Trading Advisor” or collectively, the “Trading Advisors”), each of which is a registered commodity trading advisor. Each Trading Advisor is allocated a portion of the Partnership’s assets to manage. AE Capital and Cambridge manage the assets of the Partnership through the Partnership’s investment in CMF AE Capital Master Fund LLC, a Delaware limited liability company (“AE Capital Master Fund”) and Cambridge Master Fund L.P., a Delaware limited partnership (“Cambridge Master Fund” and collectively with AE Capital Master Fund the “Master Funds”), respectively, each of which is an affiliated fund. P/E Global and Greenwave each manage the assets of the Partnership directly through managed accounts in the Partnership’s name. The Trading Advisors are not affiliated with one another, the General Partner or MS&Co., and are not responsible for the organization or operation of the Partnership. AE Capital Master Fund and Cambridge Master Fund have each entered into a futures brokerage account agreement with MS&Co. AE Capital Master Fund and Cambridge Master Fund have also each entered into a foreign exchange prime brokerage agreement with MS&Co. The Partnership has also entered into a futures brokerage account agreement and a foreign exchange prime brokerage agreement with MS&Co. Pursuant to these agreements, the Partnership, directly or through its investment in the Master Funds, pays MS&Co. (or will reimburse MS&Co. if previously paid) its allocable share of all trading fees for the clearing and, where applicable, execution of transactions as well as exchange, clearing, user, give-up, As of January 1, 2018, units of limited partnership interest (“Unit(s)”) of the Partnership are being offered in two classes (each, a “Class” or collectively, the “Classes”): Class A Units and Class Z Units. Class A Units and Class Z Units are identical, except that Class Z Units are not subject to the monthly ongoing placement agent fee. All Units issued prior to January 1, 2018 were deemed “Class A Units.” The rights, liabilities, risks, and fees associated with investment in the Class A Units were not changed. Class Z Units are offered to limited partners who receive advisory services from Morgan Stanley Wealth Management and may also be offered to certain employees of Morgan Stanley and/or its subsidiaries (and their family members). Class Z Units were first issued on April 1, 2018. 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. Effective January 1, 2018, the General Partner pays or reimburses the Partnership, from the General Partner fee it receives from the Partnership, the ordinary administrative expenses of the Partnership, to the extent these expenses exceed 0.85% annually of the net assets of the Partnership. This includes the expenses related to the engagement of the Administrator. Prior to January 1, 2018, the General Partner fully reimbursed the Partnership for these expenses.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018, the results of its operations for the three and six months ended June 30, 2018 and 2017 and changes in partners’ capital for the six months ended June 30, 2018 and 2017. 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 Investment in the Master Funds. Partnership’s/Master Funds’ Derivative Investments The Partnership and the Master Funds do not isolate the portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations due to changes in market prices of investments held. Such fluctuations are included in total trading results in the Partnership’s/Master Funds’ Statements of Income and Expenses. Restricted and Unrestricted 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 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	6 Months Ended
	Jun. 30, 2018
Investment Company [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three and six months ended June 30, 2018 and 2017 were as follows: For the Three Months Ended For the Six Months Ended 2018 2017 2018 2017 Class A Class A Class A Class A Per Unit Performance (for a unit outstanding throughout the period): * Net realized and unrealized gains (losses) $ 0.25 $ 0.19 $ 0.35 $ 1.04 Net investment loss (0.11) (0.11) (0.19) (0.22) Net increase (decrease) for the period 0.14 0.08 0.16 0.82 Net asset value per Unit, beginning of period 8.57 9.58 8.55 8.84 Net asset value per Unit, end of period $ 8.71 $ 9.66 $ 8.71 $ 9.66 For the Three Months Ended For the Six Months Ended 2018 2017 2018 2017 Class A Class A Class A Class A Ratios to Average Limited Partners’ Capital: ** Net investment loss *** (3.8) % (4.6) % (3.9) % (4.7) % Operating expenses before expenses borne by the General Partner and incentive fees 7.6 % 5.2 % 7.4 % 5.2 % Expenses borne by the General Partner (2.9) % - % (2.8) % - % Incentive fees 0.5 % - % 0.5 % - % Operating expenses after expenses borne by the General Partner and incentive fees 5.2 % 5.2 % 5.1 % 5.2 % Total return: Total return before incentive fees 2.1 % 0.8 % 2.4 % 9.3 % Incentive fees (0.5) % - % (0.5) % - % Total return after incentive fees 1.6 % 0.8 % 1.9 % 9.3 % * Net investment loss per Unit is calculated by dividing the interest income less total expenses by the average number of Units outstanding during the period. The net realized and unrealized gains (losses) per Unit is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per unit information. ** Annualized (except for incentive fees if applicable). *** 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. Additionally, these ratios are calculated for the limited partner Classes using the limited partners’ share of income, expenses and average limited partners’ capital of the Partnership, and include the income and expenses allocated from the Master Fund(s).

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2018
Investments, All Other Investments [Abstract]
Financial Instruments	4. Financial Instruments: The Partnership and the Master Funds trade Futures Interests. Futures and forwards represent contracts for delayed delivery of an instrument at a specified date and price. Futures Interests are open commitments until the settlement date, at which time they are realized. They are valued at fair value, generally on a daily basis, and the unrealized gains and losses on open contracts (the difference between contract trade price and market price) are reported in the Statements of Financial Condition as a net unrealized appreciation or depreciation on open futures contracts or net unrealized appreciation or depreciation on open forwards contracts. The resulting net change in unrealized gains and losses is reflected in “Net change in unrealized gains (losses) on open contracts” and “Net change in unrealized gains (losses) on open contracts allocated from the Master Funds” from one period to the next in the Statements of Income and Expenses. The Partnership’s/Master Funds’ contracts are accounted for on a trade-date basis. Gains or losses are realized when contracts are liquidated and are determined using the first-in, first-out The fair value of an exchange-traded contract is based on the settlement price quoted by the exchange on the day with respect to which fair value is being determined. If an exchange-traded contract could not have been liquidated on such day due to the operation of daily limits or other rules of the exchange, the settlement price will be equal to the settlement price on the first subsequent day on which the contract could be liquidated. In general, the risks associated with non-exchange non-exchange The Partnership also has credit risk because MS&Co. acts as the commodity futures broker, or the counterparty, with respect to most of the Partnership’s assets. Exchange-traded futures and exchange-traded forward contracts are fair valued on a daily basis, with variations in value settled on a daily basis. With respect to the Partnership’s non-exchange non-exchange non-exchange The General Partner monitors and attempts to mitigate the Partnership’s/Master Funds’ risk exposure on a daily basis through financial, credit and risk management monitoring systems, and, accordingly, believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Partnership/Master Funds may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk adjusted performance indicators and correlation statistics. In addition, online monitoring systems provide account analysis of futures and forward contracts by sector, margin requirements, gain and loss transactions and collateral positions. The U.S. Treasury bills and Futures Interests traded by the Partnership and the Master Funds involve varying degrees of related market risk. Market risk is often dependent upon changes in the level or volatility of interest rates, exchange rates, and prices of financial instruments and commodities, factors that result in frequent changes in the fair value of the Partnership’s open positions, and consequently in its earnings, whether realized or unrealized, and cash flow. Gains and losses on open positions of exchange-traded futures, exchange-traded forward, and exchange-traded futures-styled option contracts are settled daily through variation margin. Gains and losses on non-exchange non-exchange In the ordinary course of business, the Partnership and the Master Funds enter into contracts and agreements that contain various representations and warranties and which provide general indemnifications. The Partnership’s/Master Funds’ maximum exposure under these arrangements cannot be determined, as this could include future claims that have not yet been made against the Partnership/Master Funds. The Partnership and the Master Funds consider the risk of any future obligation relating to these indemnifications to be remote.

Trading Activities

Trading Activities	6 Months Ended
	Jun. 30, 2018
Brokers and Dealers [Abstract]
Trading Activities	5. Trading Activities: The Partnership’s objective is to profit from speculative trading in Futures Interests. Therefore, the Trading Advisors for the Partnership will take speculative positions in Futures Interests where it feels the best profit opportunities exist for its trading strategies. As such, the average number of contracts outstanding in absolute quantities (the total of the open long and open short positions) has been presented as a part of the volume disclosure, as position direction is not an indicative factor in such volume disclosures. With regard to foreign currency forward trades, each notional quantity amount has been converted to an equivalent contract based upon an industry convention. All of the Futures Interests owned directly by the Partnership are held for trading purposes. All of the Futures Interests owned by the Master Funds are held for trading purposes. The monthly average number of futures contracts traded directly by the Partnership during the three months ended June 30, 2018 was 43. The monthly average number of futures contracts traded directly by the Partnership during the six months ended June 30, 2018 was 49. There were no direct investments at June 30, 2017. The following table summarizes the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivative instruments and transactions eligible for offset subject to master netting agreements or similar agreements as of June 30, 2018. Gross Amounts Statements of Amounts Statements of Gross Amounts Not Offset in the June 30, 2018 Gross Amounts Financial Cash Collateral Net Amount Assets M S&Co. Futures $ 40,785 $ (11,108) $ 29,677 $ - $ - $ 29,677 Total assets $ 40,785 $ (11,108) $ 29,677 $ - $ - $ 29,677 Liabilities M S&Co. Futures $ (11,108) $ 11,108 $ - $ - $ - $ - Total liabilities $ (11,108) $ 11,108 $ - $ - $ - $ - Net fair value $ 29,677 * * 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 table indicates the gross fair values of derivative instruments of futures contracts held directly by the Partnership as separate assets and liabilities as of June 30, 2018. There were no direct investments held by the Partnership at December 31, 2017. June 30, 2018 Assets Futures Contracts Currencies $ 40,785 Total unrealized appreciation on open futures contracts 40,785 Liabilities Futures Contracts Currencies (11,014) Interest Rates U.S. (94) Total unrealized depreciation on open futures contracts (11,108) Net unrealized appreciation on open futures contracts $ 29,677 * * This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three and six months ended June 30, 2018. During the three and six months ended June 30, 2017, no derivative instruments were traded directly by the Partnership. Three Months Ended Six Months Ended Sector 2018 2018 Currencies $ 248,280 $ 224,762 Energy 2,006 1,995 Indices 3,672 (3,718) Interest Rates U.S. 6,017 11,011 Interest Rates Non-U.S. (341) (8,261) Metals (5,199) (7,583) Total $ 254,435 * $ 218,206 * * This amount is in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements: Fair value is defined as the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The fair value of exchange-traded futures, options and forward contracts is determined by the various futures 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 and the Master Funds consider prices for commodity futures, 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 June 30, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 40,785 $ 40,785 $ - $ - Total assets $ 40,785 $ 40,785 $ - $ - Liabilities Futures $ 11,108 $ 11,108 $ - $ - Total liabilities $ 11,108 $ 11,108 $ - $ -

Investment in the Master Funds

Investment in the Master Funds	6 Months Ended
	Jun. 30, 2018
Schedule of Investments [Abstract]
Investment in the Master Funds	7. Investment in the Master Funds: On November 1, 2012, the Partnership allocated a portion of its assets to Cambridge for trading through investment in Cambridge Master Fund, a limited partnership organized under the partnership laws of the State of Delaware. Cambridge Master Fund permits accounts managed now and in the future by Cambridge using Cambridge Asian Markets Alpha Programme and, from October 1, 2013, Cambridge Emerging Markets Alpha Programme, each a proprietary, systematic trading program, to invest together in one trading vehicle. Individual and pooled accounts currently managed by Cambridge, including the Partnership, are permitted to be limited partners of Cambridge Master Fund. The General Partner and Cambridge believe that trading through this master/feeder structure promotes efficiency and economy in the trading process. The General Partner and Cambridge agreed that Cambridge will trade the Partnership’s assets allocated to Cambridge at a level that is up to 1.5 times the amount of assets allocated. The amount of leverage may be increased or decrease in the future. However, in no event will the amount of leverage be greater than 2 times the amount of assets allocated. On or about February 1, 2018, the Partnership allocated a portion of its assets to AE Capital for trading through investment in AE Capital Master Fund, a Delaware limited liability company. AE Capital Master Fund permits accounts managed by AE Capital using its AE Systematic FX Fund Program, a proprietary, discretionary trading system, to invest together in one trading vehicle. Individual and pooled accounts currently managed by AE Capital, including the Partnership, are permitted to be limited partners of AE Capital Master Fund. The General Partner and AE Capital believe that trading through this master/feeder structure promotes efficiency and economy in the trading process. The General Partner is not aware of any material changes to any of the trading programs discussed above during the fiscal quarter ended June 30, 2018. The Master Funds’ and the Partnership’s trading of Futures Interests is done primarily on U.S. and foreign commodity exchanges. The Master Funds and the Partnership engage in such trading through commodity brokerage accounts maintained with MS&Co. Generally, a limited partner/member in a Master Fund withdraws all or part of its capital contribution and undistributed profits, if any, from the Master Fund as of the end of any month (the “Redemption Date”) after a request has been made to the General Partner/Trading Manager at least three days in advance of the Redemption Date. Such withdrawals are classified as a liability when the limited partner/member elects to redeem and informs the Master Fund. However, for each Master Fund a limited partner/member may request a withdrawal as of the end of any day if such request is received by the General Partner/Trading Manager at least three days in advance of the proposed withdrawal day. Management fees, ongoing placement agent fees, General Partner fees and incentive fees are charged at the Partnership level. Clearing fees are borne by the Master Funds and allocated to the Master Funds’ limited partners/members, including the Partnership. Effective January 1, 2018, Clearing fees are also borne by the Partnership directly. Professional fees are borne by the Master Funds and allocated to the Partnership, and effective January 1, 2018, also charged directly at the Partnership level. Effective January 1, 2018, the General Partner reimburses the Partnership for Clearing fees and professional fees to the extent that these fees exceed 0.85% annually of the net assets of the Partnership. As of June 30, 2018, the Partnership owned approximately 1.0% and 8.7% of Cambridge Master Fund and AE Capital Master Fund, respectively. Prior to the close of business on December 31, 2017, the Partnership owned approximately 22.9% of Cambridge Master Fund. It is the Partnership’s intention to continue to invest in the Master Funds. The performance of the Partnership is directly affected by the performance of the Master Funds. Expenses to investors as a result of the investment in the Master Funds are approximately the same as they would be if the Partnership traded directly and the redemption rights are not affected. Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Master Funds is shown in the following tables: June 30, 2018 Total Assets Total Liabilities Total Capital Cambridge Master Fund $ 33,813,915 $ 1,536,570 $ 32,277,345 AE Capital Master Fund 24,711,030 213,820 24,497,210 December 31, 2017 Total Assets Total Liabilities Total Capital Cambridge Master Fund $ 31,063,463 $ 4,384,639 $ 26,678,824 Summarized information reflecting the Partnership’s investment in and the Partnership’s pro-rata June 30, 2018 For the three months ended June 30, 2018 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 5.6% $ 327,236 $ (16,122 ) $ 250 $ 175 $ (16,547 ) Commodity Portfolio Monthly AE Capital Master Fund 36.4% 2,113,823 (52,338) 3,019 1,599 (56,956) Commodity Portfolio Monthly Total $ 2,441,059 $ (68,460) $ 3,269 $ 1,774 $ (73,503) June 30, 2018 For the six months ended June 30, 2018 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 5.6% $ 327,236 $ 107,667 $ 559 $ 662 $ 106,446 Commodity Portfolio Monthly AE Capital Master Fund (1) 36.4% 2,113,823 (63,008) 3,343 2,755 (69,106) Commodity Portfolio Monthly Total $ 2,441,059 $ 44,659 $ 3,902 $ 3,417 $ 37,340 December 31, 2017 For the three months ended June 30, 2017 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 100.0% $ 6,430,471 $ 193,356 $ - $ - $ 193,356 Commodity Portfolio Monthly Total $ 6,430,471 $ 193,356 $ - $ - $ 193,356 December 31, 2017 For the six months ended June 30, 2017 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 100.0% $ 6,430,471 $ 1,044,557 $ - $ - $ 1,044,557 Commodity Portfolio Monthly Total $ 6,430,471 $ 1,044,557 $ - $ - $ 1,044,557 (1) From February 1, 2018, the date the Partnership invested into AE Capital Master Fund, through June 30, 2018. The tables below represent summarized Income Statement Information for the Master Funds for the three and six months ended June 30, 2018 and 2017, respectively. For the three months ended June 30, 2018 Net Investment Total Trading Net Income Cambridge Master Fund $ 99,367 $ (517,681) $ (418,314) AE Capital Master Fund 50,825 (658,284) (607,459) For the six months ended June 30, 2018 Net Investment Total Trading Net Income Cambridge Master Fund $ 184,655 $ 1,492,646 $ 1,677,301 AE Capital Master Fund (1) 89,539 (813,757) (724,218) For the three months ended June 30, 2017 Net Investment Total Trading Net Income Cambridge Master Fund $ 44,132 $ 937,924 $ 982,056 For the six months ended June 30, 2017 Net Investment Total Trading Net Income Cambridge Master Fund $ 63,518 $ 5,659,416 $ 5,722,934 (1) From February 1, 2018, the date the Partnership invested into AE Capital Master Fund, through June 30, 2018.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	8. 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 Sum15

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
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 Investment in the Master Funds	Partnership’s Investment in the Master Funds.
Partnership's/Master Funds' Derivative Investments	Partnership’s/Master Funds’ Derivative Investments The Partnership and the Master Funds do not isolate the portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations due to changes in market prices of investments held. Such fluctuations are included in total trading results in the Partnership’s/Master Funds’ Statements of Income and Expenses.
Restricted and Unrestricted Cash	Restricted and Unrestricted 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 Unit	Net Income (Loss) per Unit Financial Services — Investment Companies.”

Financial Highlights (Tables)

Financial Highlights (Tables)	6 Months Ended
	Jun. 30, 2018
Investment Company [Abstract]
Financial Highlights for Limited Partner Class	Financial highlights for the limited partner class as a whole for the three and six months ended June 30, 2018 and 2017 were as follows: For the Three Months Ended For the Six Months Ended 2018 2017 2018 2017 Class A Class A Class A Class A Per Unit Performance (for a unit outstanding throughout the period): * Net realized and unrealized gains (losses) $ 0.25 $ 0.19 $ 0.35 $ 1.04 Net investment loss (0.11) (0.11) (0.19) (0.22) Net increase (decrease) for the period 0.14 0.08 0.16 0.82 Net asset value per Unit, beginning of period 8.57 9.58 8.55 8.84 Net asset value per Unit, end of period $ 8.71 $ 9.66 $ 8.71 $ 9.66 For the Three Months Ended For the Six Months Ended 2018 2017 2018 2017 Class A Class A Class A Class A Ratios to Average Limited Partners’ Capital: ** Net investment loss *** (3.8) % (4.6) % (3.9) % (4.7) % Operating expenses before expenses borne by the General Partner and incentive fees 7.6 % 5.2 % 7.4 % 5.2 % Expenses borne by the General Partner (2.9) % - % (2.8) % - % Incentive fees 0.5 % - % 0.5 % - % Operating expenses after expenses borne by the General Partner and incentive fees 5.2 % 5.2 % 5.1 % 5.2 % Total return: Total return before incentive fees 2.1 % 0.8 % 2.4 % 9.3 % Incentive fees (0.5) % - % (0.5) % - % Total return after incentive fees 1.6 % 0.8 % 1.9 % 9.3 % * Net investment loss per Unit is calculated by dividing the interest income less total expenses by the average number of Units outstanding during the period. The net realized and unrealized gains (losses) per Unit is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per unit information. ** Annualized (except for incentive fees if applicable). *** Interest income less total expenses.

Trading Activities (Tables)

Trading Activities (Tables)	6 Months Ended
	Jun. 30, 2018
Brokers and Dealers [Abstract]
Offsetting of Derivative Assets and Liabilities	The following table summarizes the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivative instruments and transactions eligible for offset subject to master netting agreements or similar agreements as of June 30, 2018. Gross Amounts Statements of Amounts Statements of Gross Amounts Not Offset in the June 30, 2018 Gross Amounts Financial Cash Collateral Net Amount Assets M S&Co. Futures $ 40,785 $ (11,108) $ 29,677 $ - $ - $ 29,677 Total assets $ 40,785 $ (11,108) $ 29,677 $ - $ - $ 29,677 Liabilities M S&Co. Futures $ (11,108) $ 11,108 $ - $ - $ - $ - Total liabilities $ (11,108) $ 11,108 $ - $ - $ - $ - Net fair value $ 29,677 * * 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 table indicates the gross fair values of derivative instruments of futures contracts held directly by the Partnership as separate assets and liabilities as of June 30, 2018. There were no direct investments held by the Partnership at December 31, 2017. June 30, 2018 Assets Futures Contracts Currencies $ 40,785 Total unrealized appreciation on open futures contracts 40,785 Liabilities Futures Contracts Currencies (11,014) Interest Rates U.S. (94) Total unrealized depreciation on open futures contracts (11,108) Net unrealized appreciation on open futures contracts $ 29,677 * * This amount is in “Net unrealized appreciation on open futures contracts” in the 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 traded directly by the Partnership for the three and six months ended June 30, 2018. During the three and six months ended June 30, 2017, no derivative instruments were traded directly by the Partnership. Three Months Ended Six Months Ended Sector 2018 2018 Currencies $ 248,280 $ 224,762 Energy 2,006 1,995 Indices 3,672 (3,718) Interest Rates U.S. 6,017 11,011 Interest Rates Non-U.S. (341) (8,261) Metals (5,199) (7,583) Total $ 254,435 * $ 218,206 * * This amount is in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Derivative Instrument Fair Value Based on Hierarchy	June 30, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 40,785 $ 40,785 $ - $ - Total assets $ 40,785 $ 40,785 $ - $ - Liabilities Futures $ 11,108 $ 11,108 $ - $ - Total liabilities $ 11,108 $ 11,108 $ - $ -

Investment in the Master Funds

Investment in the Master Funds (Tables)	6 Months Ended
	Jun. 30, 2018
Schedule of Investments [Abstract]
Assets, Liabilities and Partners'/ Members' Capital of Master Funds	Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Master Funds is shown in the following tables: June 30, 2018 Total Assets Total Liabilities Total Capital Cambridge Master Fund $ 33,813,915 $ 1,536,570 $ 32,277,345 AE Capital Master Fund 24,711,030 213,820 24,497,210 December 31, 2017 Total Assets Total Liabilities Total Capital Cambridge Master Fund $ 31,063,463 $ 4,384,639 $ 26,678,824
Partnership's Investments in and Partnership's Pro-rata Share of Results of Operations of Master Funds	Summarized information reflecting the Partnership’s investment in and the Partnership’s pro-rata June 30, 2018 For the three months ended June 30, 2018 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 5.6% $ 327,236 $ (16,122 ) $ 250 $ 175 $ (16,547 ) Commodity Portfolio Monthly AE Capital Master Fund 36.4% 2,113,823 (52,338) 3,019 1,599 (56,956) Commodity Portfolio Monthly Total $ 2,441,059 $ (68,460) $ 3,269 $ 1,774 $ (73,503) June 30, 2018 For the six months ended June 30, 2018 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 5.6% $ 327,236 $ 107,667 $ 559 $ 662 $ 106,446 Commodity Portfolio Monthly AE Capital Master Fund (1) 36.4% 2,113,823 (63,008) 3,343 2,755 (69,106) Commodity Portfolio Monthly Total $ 2,441,059 $ 44,659 $ 3,902 $ 3,417 $ 37,340 December 31, 2017 For the three months ended June 30, 2017 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 100.0% $ 6,430,471 $ 193,356 $ - $ - $ 193,356 Commodity Portfolio Monthly Total $ 6,430,471 $ 193,356 $ - $ - $ 193,356 December 31, 2017 For the six months ended June 30, 2017 % of Expenses Net Partners’ Fair Income Clearing Professional Income Investment Redemptions Master Funds Capital Value (Loss) Fees Fees (Loss) Objective Permitted Cambridge Master Fund 100.0% $ 6,430,471 $ 1,044,557 $ - $ - $ 1,044,557 Commodity Portfolio Monthly Total $ 6,430,471 $ 1,044,557 $ - $ - $ 1,044,557 (1) From February 1, 2018, the date the Partnership invested into AE Capital Master Fund, through June 30, 2018.
Net Investment Income (Loss), Trading Results and Net Income (Loss) for Master Funds	The tables below represent summarized Income Statement Information for the Master Funds for the three and six months ended June 30, 2018 and 2017, respectively. For the three months ended June 30, 2018 Net Investment Total Trading Net Income Cambridge Master Fund $ 99,367 $ (517,681) $ (418,314) AE Capital Master Fund 50,825 (658,284) (607,459) For the six months ended June 30, 2018 Net Investment Total Trading Net Income Cambridge Master Fund $ 184,655 $ 1,492,646 $ 1,677,301 AE Capital Master Fund (1) 89,539 (813,757) (724,218) For the three months ended June 30, 2017 Net Investment Total Trading Net Income Cambridge Master Fund $ 44,132 $ 937,924 $ 982,056 For the six months ended June 30, 2017 Net Investment Total Trading Net Income Cambridge Master Fund $ 63,518 $ 5,659,416 $ 5,722,934 (1) From February 1, 2018, the date the Partnership invested into AE Capital Master Fund, through June 30, 2018.

Organization - Additional Infor

Organization - Additional Information (Detail)	1 Months Ended	6 Months Ended
	Jul. 31, 2015	Jun. 30, 2018
General Partner [Member] | Minimum [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of expenses to net assets to be covered by General Partner	0.85%	0.85%

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Restricted cash	$ 94,867	$ 0
Cash denominated in foreign currencies	(7,674)	0
Cash denominated in foreign currencies, proceeds	7,936
Cash denominated in foreign currencies, cost		$ 0
Uncertain tax position	$ 0
Open tax year	2014 2015 2016 2017

Financial Highlights - Financia

Financial Highlights - Financial Highlights for Limited Partner Class (Detail) - Class A [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Per Unit Performance (for a unit outstanding throughout the period):
Net asset value per Unit, beginning of period			$ 8.55
Net asset value per Unit, end of period	$ 8.71		8.71
Limited Partners [Member]
Per Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	0.25	$ 0.19	0.35	$ 1.04
Net investment loss	(0.11)	(0.11)	(0.19)	(0.22)
Net increase (decrease) for the period	0.14	0.08	0.16	0.82
Net asset value per Unit, beginning of period	8.57	9.58	8.55	8.84
Net asset value per Unit, end of period	$ 8.71	$ 9.66	$ 8.71	$ 9.66
Ratios to Average Limited Partners' Capital:
Net investment loss	(3.80%)	(4.60%)	(3.90%)	(4.70%)
Operating expenses before expenses borne by the General Partner and incentive fees	7.60%	5.20%	7.40%	5.20%
Expenses borne by the General Partner	(2.90%)		(2.80%)
Incentive fees	0.50%		0.50%
Operating expenses after expenses borne by the General Partner and incentive fees	5.20%	5.20%	5.10%	5.20%
Total return:
Total return before incentive fees	2.10%	0.80%	2.40%	9.30%
Incentive fees	(0.50%)		(0.50%)
Total return after incentive fees	1.60%	0.80%	1.90%	9.30%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2018Contract	Jun. 30, 2018Contract	Jun. 30, 2017Investment
Derivative [Line Items]
Number of direct investments | Investment			0
Futures Contracts [Member]
Derivative [Line Items]
Average number of derivative contracts traded | Contract	43	49

Trading Activities - Offsetting

Trading Activities - Offsetting of Derivative Assets and Liabilities (Detail)	Jun. 30, 2018USD ($)
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 40,785
Gross Amounts Offset in the Statements of Financial Condition, Assets	(11,108)
Amounts Presented in the Statements of Financial Condition, Assets	29,677
Gross Amounts Not Offset in the Statements of Financial Condition, Financial Instruments, Assets	0
Gross Amounts Not Offset in the Statements of Financial Condition, Cash Collateral Received/ Pledged, Assets	0
Net Amount, Assets	29,677
Gross Amounts Recognized, Liabilities	(11,108)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	11,108
Amounts Presented in the Statements of Financial Condition, Liabilities	0
Gross Amounts Not Offset in the Statements of Financial Condition, Financial Instruments, Liabilities	0
Gross Amounts Not Offset in the Statements of Financial Condition, Cash Collateral Received/ Pledged, Liabilities	0
Net Amount, Liabilities	0
Net fair value	29,677
Futures Contracts [Member]
Derivative [Line Items]
Amounts Presented in the Statements of Financial Condition, Assets	29,677
Futures Contracts [Member] | MS&Co. [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	40,785
Gross Amounts Offset in the Statements of Financial Condition, Assets	(11,108)
Amounts Presented in the Statements of Financial Condition, Assets	29,677
Gross Amounts Not Offset in the Statements of Financial Condition, Financial Instruments, Assets	0
Gross Amounts Not Offset in the Statements of Financial Condition, Cash Collateral Received/ Pledged, Assets	0
Net Amount, Assets	29,677
Gross Amounts Recognized, Liabilities	(11,108)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	11,108
Amounts Presented in the Statements of Financial Condition, Liabilities	0
Gross Amounts Not Offset in the Statements of Financial Condition, Financial Instruments, Liabilities	0
Gross Amounts Not Offset in the Statements of Financial Condition, Cash Collateral Received/ Pledged, Liabilities	0
Net Amount, Liabilities	$ 0

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded (Detail) - Futures Contracts [Member]	Jun. 30, 2018USD ($)
Derivative [Line Items]
Total unrealized appreciation on open futures contracts	$ 40,785
Total unrealized depreciation on open futures contracts	(11,108)
Net unrealized appreciation on open futures contracts	29,677
Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures contracts	40,785
Total unrealized depreciation on open futures contracts	(11,014)
Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized depreciation on open futures contracts	$ (94)

Trading Activities - Schedule o

Trading Activities - Schedule of Trading Gains and Losses by Market Sector, on Derivative Instruments (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Derivative [Line Items]
Total trading results	$ 254,435	$ 218,206
Currencies [Member]
Derivative [Line Items]
Total trading results	248,280	224,762
Energy [Member]
Derivative [Line Items]
Total trading results	2,006	1,995
Indices [Member]
Derivative [Line Items]
Total trading results	3,672	(3,718)
Interest Rates U.S. [Member]
Derivative [Line Items]
Total trading results	6,017	11,011
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total trading results	(341)	(8,261)
Metals [Member]
Derivative [Line Items]
Total trading results	$ (5,199)	$ (7,583)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Transfers of assets between Level 1 and Level 2	$ 0	$ 0
Transfers of liabilities between Level 1 and Level 2	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Fair Value Based on Hierarchy (Detail)	Jun. 30, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 40,785
Total liabilities	11,108
Futures Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	40,785
Total liabilities	11,108
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	40,785
Total liabilities	11,108
Level 1 [Member] | Futures Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	40,785
Total liabilities	$ 11,108

Investment in the Master Fund29

Investment in the Master Funds - Additional Information (Detail) - TradingVehicle	1 Months Ended	6 Months Ended
	Jul. 31, 2015	Jun. 30, 2018	Dec. 31, 2017
Minimum [Member] | General Partner [Member]
Investment [Line Items]
Percentage of expenses to net assets to be covered by General Partner	0.85%	0.85%
Cambridge Master Fund [Member]
Investment [Line Items]
Number of trading vehicles		1
Percentage owned by partnership		1.00%	22.90%
Cambridge Master Fund [Member] | Minimum [Member]
Investment [Line Items]
Leverage applied to assets		150.00%
Cambridge Master Fund [Member] | Maximum [Member]
Investment [Line Items]
Leverage applied to assets		200.00%
AE Capital Master Fund [Member]
Investment [Line Items]
Percentage owned by partnership		8.70%

Investment in the Master Fund -

Investment in the Master Fund - Assets, Liabilities and Partners'/ Members' Capital of Master Funds (Detail) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Investment Holdings [Line Items]
Total Assets	$ 6,006,911	$ 6,934,368
Total Liabilities	204,586	501,270
Total Capital	5,802,325	6,433,098	$ 8,619,151	$ 9,094,995
Cambridge Master Fund [Member]
Investment Holdings [Line Items]
Total Assets	33,813,915	31,063,463
Total Liabilities	1,536,570	4,384,639
Total Capital	32,277,345	$ 26,678,824
AE Capital Master Fund [Member]
Investment Holdings [Line Items]
Total Assets	24,711,030
Total Liabilities	213,820
Total Capital	$ 24,497,210

Investment in the Funds - Partn

Investment in the Funds - Partnership's Investments in and Partnership's Pro-rata Share of Results of Operations of Master Funds (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017	Dec. 31, 2017	[1]
Investment Holdings [Line Items]
% of Partners' Capital	42.07%			42.07%
Fair Value	$ 2,441,059	[1]	$ 6,430,471	$ 2,441,059	[1]	$ 6,430,471	$ 6,430,471
Expenses, Clearing Fees	7,503			12,580
Expenses, Professional fees	43,853			90,422
Net income (loss)	$ 98,156		$ 79,140	$ 112,164		$ 815,046
Cambridge Master Fund [Member]
Investment Holdings [Line Items]
% of Partners' Capital	5.60%		100.00%	5.60%		100.00%
Fair Value	$ 327,236		$ 6,430,471	$ 327,236		$ 6,430,471
Net income (loss)	$ (418,314)		982,056	$ 1,677,301		5,722,934
AE Capital Master Fund [Member]
Investment Holdings [Line Items]
% of Partners' Capital	36.40%			36.40%
Fair Value	$ 2,113,823			$ 2,113,823
Net income (loss)	(607,459)			(724,218)
Investment in Funds [Member]
Investment Holdings [Line Items]
Income (Loss)	(68,460)		193,356	44,659		1,044,557
Expenses, Clearing Fees	3,269			3,902
Expenses, Professional fees	1,774			3,417
Net income (loss)	(73,503)		193,356	37,340		1,044,557
Investment in Funds [Member] | Commodity [Member] | Cambridge Master Fund [Member]
Investment Holdings [Line Items]
Income (Loss)	(16,122)		193,356	107,667		1,044,557
Expenses, Clearing Fees	250			559
Expenses, Professional fees	175			662
Net income (loss)	$ (16,547)		$ 193,356	$ 106,446		$ 1,044,557
Investment Objective	Commodity Portfolio		Commodity Portfolio	Commodity Portfolio		Commodity Portfolio
Redemptions Permitted	Monthly		Monthly	Monthly		Monthly
Investment in Funds [Member] | Commodity [Member] | AE Capital Master Fund [Member]
Investment Holdings [Line Items]
Income (Loss)	$ (52,338)			$ (63,008)
Expenses, Clearing Fees	3,019			3,343
Expenses, Professional fees	1,599			2,755
Net income (loss)	$ (56,956)			$ (69,106)
Investment Objective	Commodity Portfolio			Commodity Portfolio
Redemptions Permitted	Monthly			Monthly
[1]	Defined in Note 1.

Investment in the Funds - Net I

Investment in the Funds - Net Investment Income (Loss), Trading Results and Net Income (Loss) for Master Funds (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investment Holdings [Line Items]
Net Investment Income	$ (78,907)	$ (101,858)	$ (133,934)	$ (208,071)
Total Trading Results	177,063	180,998	246,098	1,023,117
Net income (loss)	98,156	79,140	112,164	815,046
Cambridge Master Fund [Member]
Investment Holdings [Line Items]
Net Investment Income	99,367	44,132	184,655	63,518
Total Trading Results	(517,681)	937,924	1,492,646	5,659,416
Net income (loss)	(418,314)	$ 982,056	1,677,301	$ 5,722,934
AE Capital Master Fund [Member]
Investment Holdings [Line Items]
Net Investment Income	50,825		89,539
Total Trading Results	(658,284)		(813,757)
Net income (loss)	$ (607,459)		$ (724,218)