Ceres Tactical Systematic (TDFF) 10-Q 10 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	TDFF
Entity Registrant Name	TACTICAL DIVERSIFIED FUTURES FUND L.P.
Entity Central Index Key	1,209,709
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		164,969.2938

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Assets:
Investment in the Funds, at fair value	[1]	$ 141,324,563	$ 210,548,183
Redemptions receivable from Fund		9,054,379
Equity in trading account:
Cash at MS&Co.		11,785,360	425,263
Cash margin		3,921,232
Total equity in trading account		16,005,937	425,263
Cash at bank		412
Interest receivable		1,892
Total assets		166,387,183	210,973,446
Accrued expenses:
Ongoing selling agent fees		277,312	351,622
Management fees		190,646	222,936
General Partner fees		138,235	175,255
Professional fees		227,517	315,729
Redemptions payable to General Partner		460,000
Redemptions payable to Limited Partners		4,435,082	3,038,650
Total liabilities		5,728,792	4,104,192
Partners' Capital:
General Partner, 1,972.2964 and 2,477.6854 Redeemable Units outstanding at September 30, 2016 and December 31, 2015, respectively		1,795,155	2,431,723
Limited Partners, 174,539.3598 and 208,301.6758 Redeemable Units outstanding at September 30, 2016 and December 31, 2015, respectively		158,863,236	204,437,531
Total Capital		160,658,391	206,869,254
Total liabilities and partners' capital		$ 166,387,183	$ 210,973,446
Net asset value per Redeemable Unit		$ 910.19	$ 981.45
Futures Contracts [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on open contracts		$ 203,387
Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation (depreciation) on open contracts		$ 95,958
[1]	Defined in Note 1.

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
General Partner capital, Redeemable units outstanding	1,972.2964	2,477.6854
Limited Partners capital, Redeemable units outstanding	174,539.3598	208,301.6758

Condensed Schedule of Investmen

Condensed Schedule of Investments	Sep. 30, 2016USD ($)Contract
Investment in the Funds
Total investment in the Funds, Fair Value	$ 141,324,563	[1]
% of Partners' Capital	87.97%
Forward Contracts [Member]
Investment in the Funds
Unrealized Appreciation on Open Forward Contracts	$ 256,279
Unrealized Depreciation on Open Forward Contracts	(160,321)
Net unrealized appreciation (depreciation) on open contracts	$ 95,958
Percentage of Partners' Capital	0.16%
Percentage of Partners' Capital	(0.10%)
% of Partners' Capital	0.06%
Forward Contracts [Member] | Currencies [Member]
Investment in the Funds
Unrealized Appreciation on Open Forward Contracts	$ 164,758
Notional Amount	15,352,688
Unrealized Depreciation on Open Forward Contracts	$ (90,531)
Percentage of Partners' Capital	0.10%
Percentage of Partners' Capital	(0.06%)
Notional Amount	$ 11,873,233
Forward Contracts [Member] | Metals [Member]
Investment in the Funds
Unrealized Appreciation on Open Forward Contracts	91,521
Unrealized Depreciation on Open Forward Contracts	$ (69,790)
Percentage of Partners' Capital	0.06%
Percentage of Partners' Capital	(0.04%)
CMF Willowbridge Master Fund L.P. [Member]
Investment in the Funds
Total investment in the Funds, Fair Value	$ 37,223,772
% of Partners' Capital	23.17%
CMF Aspect Master Fund L.P. [Member]
Investment in the Funds
Total investment in the Funds, Fair Value	$ 24,604,677
% of Partners' Capital	15.32%
CMF Graham Capital Master Fund L.P. [Member]
Investment in the Funds
Total investment in the Funds, Fair Value	$ 28,411,087
% of Partners' Capital	17.68%
Morgan Stanley Smith Barney Boronia I, LLC [Member]
Investment in the Funds
Total investment in the Funds, Fair Value	$ 18,134,764
% of Partners' Capital	11.29%
Cambridge Master Fund L.P. [Member]
Investment in the Funds
Total investment in the Funds, Fair Value	$ 32,950,263
% of Partners' Capital	20.51%
Net Unrealized Appreciation On Open Forward Contracts [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	33
Net Unrealized Depreciation On Open Forward Contracts [Member] | Forward Contracts [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	32
Futures Contracts [Member]
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 203,387
% of Partners' Capital	0.13%
Futures Contracts [Member] | Long [Member]
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 80,536
% of Partners' Capital	0.05%
Futures Contracts [Member] | Long [Member] | Indices [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	191
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 34,457
% of Partners' Capital	0.02%
Futures Contracts [Member] | Long [Member] | Interest Rates U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	39
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 1,297
% of Partners' Capital	0.00%
Futures Contracts [Member] | Long [Member] | Interest Rates Non-U.S. [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	344
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ (10,692)
% of Partners' Capital	(0.01%)
Futures Contracts [Member] | Long [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	23
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ (22,520)
% of Partners' Capital	(0.01%)
Futures Contracts [Member] | Long [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	27
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 6,952
% of Partners' Capital	0.01%
Futures Contracts [Member] | Long [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	68
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ (19,705)
% of Partners' Capital	(0.01%)
Futures Contracts [Member] | Long [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	37
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ (8,195)
% of Partners' Capital	(0.01%)
Futures Contracts [Member] | Long [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	95
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 98,942
% of Partners' Capital	0.06%
Futures Contracts [Member] | Short [Member]
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 122,851
% of Partners' Capital	0.08%
Futures Contracts [Member] | Short [Member] | Indices [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	136
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 17,009
% of Partners' Capital	0.01%
Futures Contracts [Member] | Short [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	89
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ (105,759)
% of Partners' Capital	(0.07%)
Futures Contracts [Member] | Short [Member] | Currencies [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	8
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 3,319
% of Partners' Capital	0.00%
Futures Contracts [Member] | Short [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	202
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 62,252
% of Partners' Capital	0.04%
Futures Contracts [Member] | Short [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	2
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 1,610
% of Partners' Capital	0.00%
Futures Contracts [Member] | Short [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	9
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 4,270
% of Partners' Capital	0.01%
Futures Contracts [Member] | Short [Member] | Livestock [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract	42
Investment in the Funds
Net unrealized appreciation (depreciation) on open contracts	$ 140,150
% of Partners' Capital	0.09%
[1]	Defined in Note 1.

Statements of Income and Expens

Statements of Income and Expenses and Changes in Partners' Capital - USD ($)		Total	General Partner [Member]	Limited Partner [Member]
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 1,010.09
Interest income allocated from the Funds		$ 18,455
Total investment income		18,455
Expenses allocated from the Funds		3,342,163
Ongoing selling agent fees		3,582,647
General Partner fees		1,785,803
Management fees		2,158,608
Incentive fees		1,694,935
Professional fees		528,551
Total expenses		13,092,707
Net investment loss		(13,074,252)
Net realized gains (losses) on closed contracts allocated from the Funds		11,989,610
Net change in unrealized gains (losses) on open contracts allocated from the Funds		(6,236,115)
Total trading results		5,753,495
Net Income (Loss)		(7,320,757)
Subscriptions - Limited Partners		1,209,286
Redemptions			$ (378,906)	$ (30,379,571)
Net increase (decrease) in Partners' Capital		(36,869,948)
Partners' Capital, beginning of period at Dec. 31, 2014		253,104,986
Partners' Capital, end of period at Sep. 30, 2015		$ 216,235,038
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss) per Redeemable Unit	[1]	$ (32.22)
Weighted average Redeemable Units outstanding		236,824.7012
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 924.98
Interest income allocated from the Funds		$ 12,278
Total investment income		12,278
Expenses allocated from the Funds		834,084
Ongoing selling agent fees		1,111,598
General Partner fees		554,074
Management fees		668,486
Professional fees		198,079
Total expenses		3,366,321
Net investment loss		(3,354,043)
Net realized gains (losses) on closed contracts allocated from the Funds		7,714,128
Net change in unrealized gains (losses) on open contracts allocated from the Funds		7,796,581
Total trading results		15,510,709
Net Income (Loss)		12,156,666
Redemptions				(9,187,149)
Net increase (decrease) in Partners' Capital		2,969,517
Partners' Capital, beginning of period at Jun. 30, 2015		213,265,521
Partners' Capital, end of period at Sep. 30, 2015		$ 216,235,038
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss) per Redeemable Unit	[1]	$ 52.89
Weighted average Redeemable Units outstanding		227,362.5445
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 977.87
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 981.45
Interest income		$ 4,293
Interest income allocated from the Funds		263,414
Total investment income		267,707
Expenses allocated from the Funds		1,671,944
Clearing fees related to direct investments		10,781
Ongoing selling agent fees		2,855,754
General Partner fees		1,423,385
Management fees		1,882,373
Incentive fees		188,689
Professional fees		442,366
Total expenses		8,475,292
Net investment loss		(8,207,585)
Net realized gains (losses) on closed contracts		(499,092)
Net realized gains (losses) on closed contracts allocated from the Funds		(4,431,357)
Net change in unrealized gains (losses) on open contracts		298,625
Net change in unrealized gains (losses) on open contracts allocated from the Funds		(716,133)
Total trading results		(5,347,957)
Net Income (Loss)		(13,555,542)
Redemptions			(460,000)	(32,195,321)
Net increase (decrease) in Partners' Capital		(46,210,863)
Partners' Capital, beginning of period at Dec. 31, 2015		206,869,254
Partners' Capital, end of period at Sep. 30, 2016		$ 160,658,391
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss) per Redeemable Unit	[1]	$ (71.26)
Weighted average Redeemable Units outstanding		197,221.9078
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 957.62
Interest income		$ 4,293
Interest income allocated from the Funds		88,182
Total investment income		92,475
Expenses allocated from the Funds		410,523
Clearing fees related to direct investments		10,781
Ongoing selling agent fees		867,628
General Partner fees		432,495
Management fees		585,185
Professional fees		139,454
Total expenses		2,446,066
Net investment loss		(2,353,591)
Net realized gains (losses) on closed contracts		(499,092)
Net realized gains (losses) on closed contracts allocated from the Funds		(3,058,373)
Net change in unrealized gains (losses) on open contracts		298,625
Net change in unrealized gains (losses) on open contracts allocated from the Funds		(3,201,978)
Total trading results		(6,460,818)
Net Income (Loss)		(8,814,409)
Redemptions			$ (460,000)	$ (11,585,621)
Net increase (decrease) in Partners' Capital		(20,860,030)
Partners' Capital, beginning of period at Jun. 30, 2016		181,518,421
Partners' Capital, end of period at Sep. 30, 2016		$ 160,658,391
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss) per Redeemable Unit	[1]	$ (47.43)
Weighted average Redeemable Units outstanding		186,022.2075
Net asset value per Redeemable Unit (176,511.6562 and 221,128.6472 Redeemable Units outstanding at September 30, 2016 and 2015, respectively)		$ 910.19
[1]	Represents the change in net asset value per Redeemable Unit during the period.

Statements of Income and Expen6

Statements of Income and Expenses and Changes in Partners' Capital (Parenthetical) - shares	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net asset value, Redeemable Units outstanding	176,511.6562	221,128.6472

Organization

Organization	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization: Tactical Diversified Futures Fund L.P. (the “Partnership”) is a limited partnership organized under the partnership laws of the State of New York on December 3, 2002 to engage, directly or indirectly, in the speculative trading of a diversified portfolio of commodity interests including futures, option, swap and forward contracts. The sectors traded include currencies, energy, grains, indices, U.S. and non-U.S. interest rates, livestock, lumber, metals and softs. The commodity interests that are traded by the Partnership indirectly through its investments in the Funds (as defined below) are volatile and involve a high degree of market risk. The General Partner may also determine to invest up to all of the Partnership’s and/or the Funds’ 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. Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (the “General Partner”) or with respect to Boronia Trading Company (defined below), the “Trading Manager” and commodity pool operator of the Partnership. The General Partner is wholly owned by Morgan Stanley Smith Barney Holdings LLC (“MSSB Holdings”). MSSB Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial services and other businesses. Prior to June 28, 2013, Morgan Stanley indirectly owned a majority equity interest in MSSB Holdings, and Citigroup Inc. indirectly owned a minority equity interest in MSSB Holdings. Prior to July 31, 2009, the date as of which MSSB Holdings became its owner, the General Partner was wholly owned by Citigroup Financial Products Inc., a wholly owned subsidiary of Citigroup Global Markets Holdings Inc., the sole owner of which is Citigroup Inc. All trading decisions are made for the Partnership by Graham Capital Management, L.P., (“Graham”), Willowbridge Associates Inc. (“Willowbridge”), Aspect Capital Limited (“Aspect”), Boronia Capital Pty. Ltd. (“Boronia”), The Cambridge Strategy (Asset Management) Limited (“Cambridge”), and International Standard Asset Management (“ISAM”) (each an “Advisor” and collectively, the “Advisors”), each of which is a registered commodity trading advisor. Effective September 30, 2016, JE Moody & Company LLC (“JE Moody”) ceased to act as a commodity trading adviser to the Partnership. Effective June 30, 2016, Altis Partners (Jersey) Limited (“Altis”) ceased to act as a commodity trading adviser to the Partnership. Reference herein to “Advisors” may include, as relevant, Altis and JE Moody. Each Advisor is allocated a portion of the Partnership’s assets to manage. The Partnership invests the portion of its assets allocated to each of the Advisors either directly, through individually managed accounts, or indirectly, through investments in the Funds. Between March 27, 2003 (commencement of the public offering period) and April 30, 2003, 36,616 redeemable units of limited partnership interest in the Partnership (“Redeemable Units”) were sold at $1,000 per Redeemable Unit. The proceeds of the initial public offering were held in an escrow account until April 30, 2003, at which time they were turned over to the Partnership for trading. The Partnership was authorized to publicly offer 300,000 Redeemable Units during the initial public offering period. As of December 4, 2003, the Partnership was authorized to publicly offer an additional 700,000 Redeemable Units. As of October 7, 2004, the Partnership was authorized to publicly offer an additional 1,000,000 Redeemable Units. As of June 30, 2005, the Partnership was authorized to publicly offer Redeemable Units previously registered. The public offering of Redeemable Units terminated on November 30, 2008. The Partnership currently privately and continuously offers up to 200,000 Redeemable Units to qualified investors. There is no maximum number of Redeemable Units that may be sold by the Partnership. During the reporting periods ended September 30, 2016 and 2015, the Partnership’s/Funds’ commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. The Partnership/Funds also deposit a portion of their cash in a non-trading account at JPMorgan Chase Bank, N.A. ISAM directly trades the Partnership’s assets allocated to it through a managed account in the name of the Partnership pursuant to ISAM’s Systematic Trend Programme. CMF Graham Capital Master Fund L.P. (“Graham Master”), CMF Aspect Master Fund L.P. (“Aspect Master”), CMF Willowbridge Master Fund L.P. (“Willowbridge Master”), CMF Altis Partners Master Fund L.P. (“Altis Master”), Morgan Stanley Smith Barney Boronia I, LLC (“Boronia I, LLC” or “Boronia Trading Company”), Cambridge Master Fund L.P. (“Cambridge Master”) and JEM Master Fund L.P. (“JEM Master”) entered into a futures brokerage account agreement with MS&Co. Graham Master, Aspect Master, Willowbridge Master, Altis Master, Boronia I, LLC, Cambridge Master and JEM Master are collectively referred to as the “Funds”. Graham Master, Aspect Master, Willowbridge Master, Boronia I, LLC and Cambridge Master have also entered into a foreign exchange prime brokerage agreement with MS&Co. The Partnership has also entered into a futures brokerage account agreement with MS&Co. The Partnership, through its investment in the 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, floor brokerage and National Futures Association fees (collectively, the “clearing fees”). The Partnership has also entered into a selling agreement (as amended, the “Selling Agreement”) with Morgan Stanley Smith Barney LLC (doing business as Morgan Stanley Wealth Management) (“Morgan Stanley Wealth Management”). 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 net assets. The ongoing selling agent fee received by Morgan Stanley Wealth Management is shared with the properly registered/exempted financial advisors of Morgan Stanley Wealth Management who sell Redeemable Units in the Partnership. In July 2015, the General Partner delegated certain administrative functions to SS&C Technologies, Inc., a Delaware corporation, currently doing business as SS&C GlobeOp (the “Administrator”). Pursuant to a master services agreement, the Administrator furnishes certain administrative, accounting, regulatory reporting, tax and other services as agreed from time to time. In addition, the Administrator maintains certain books and records of the Partnership. The cost of retaining the Administrator is allocated among the pools operated by the General Partner, including the Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies: The accompanying financial statements and accompanying notes are unaudited but, in the opinion of the General Partner, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Partnership’s financial condition at September 30, 2016, and the results of its operations and changes in partners’ capital for the three and nine months ended September 30, 2016 and 2015. These financial statements present the results for interim periods and do not include all disclosures normally provided in annual financial statements. These financial statements should be read together with the financial statements and notes included in the Partnership’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2015. The December 31, 2015 information has been derived from the audited financial statements as of and for the year ended December 31, 2015. 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. Partnership’s Investments in the Funds. Partnership’s/Funds’ Derivative Investments. Partnership’s Cash. Income Taxes. Investment Company Status. , “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” Net Income (Loss) per Redeemable Unit. Financial Services-Investment Companies Fair Value of Financial Instruments “Financial Instruments,” Recent Accounting Pronouncement. “Recognition and Measurement of Financial Assets and Financial Liabilities.” There have been no material changes with respect to the Partnership’s critical accounting policies as reported in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015.

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three and nine months ended September 30, 2016 and 2015 were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) (34.78) 67.63 (29.64) 22.52 Net investment loss (12.65) (14.74) (41.62) (54.74) Increase (decrease) for the period (47.43) 52.89 (71.26) (32.22) Net asset value per Redeemable Unit, beginning of period 957.62 924.98 981.45 1,010.09 Net asset value per Redeemable Unit, end of period $ 910.19 $ 977.87 $ 910.19 $ 977.87 Three Months Ended Nine Months Ended 2016 2015 2016 2015 Ratios to Average Limited Partners’ Capital:** Net investment loss*** (5.4) % (6.1) % (5.7) % (7.1) % Operating expenses 5.7 % 6.2 % 5.7 % 6.5 % Incentive fees 0.0 % **** - % 0.2 % 0.7 % Total expenses 5.7 % 6.2 % 5.9 % 7.2 % Total return: Total return before incentive fees (5.0) % 5.7 % (7.1) % (2.5) % Incentive fees (0.0) % **** - % (0.2) % (0.7) % Total return after incentive fees (5.0) % 5.7 % (7.3) % (3.2) % * Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income less total expenses. **** Due to rounding. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and include the income and expenses allocated from the Funds.

Trading Activities

Trading Activities	9 Months Ended
	Sep. 30, 2016
Brokers and Dealers [Abstract]
Trading Activities	4. Trading Activities: The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity instruments. The results of the Partnership’s trading activities are shown in the Statements of Income and Expenses and Changes in Partners’ Capital. The Partnership also invests its assets through a “master/feeder” structure. The Partnership’s pro-rata share of the results of the Funds’ trading activities is shown in the Statements of Income and Expenses and Changes in Partners’ Capital. The futures brokerage account agreement with MS&Co. gives the Partnership and the Funds the legal right to net unrealized gains and losses on open futures contracts and open forward contracts. The Partnership and the Funds net, for financial reporting purposes, the unrealized gains and losses on open futures and open forward contracts on the Statements of Financial Condition as the criteria under ASC 210-20, “ Balance Sheet All of the commodity interests owned by the Partnership are held for trading purposes. All of the commodity interests owned by the Funds are held for trading purposes. The monthly average number of futures contracts traded directly by the Partnership during the three and nine months ended September 30, 2016 was 1,290. The monthly average number of metals forward contracts traded directly by the Partnership during the three and nine months ended September 30, 2016 was 48. The monthly average notional value of currency forward contracts traded directly by the Partnership during the three and nine months ended September 30, 2016 was $23,940,288. There were no direct investments at December 31, 2015. Trading and transaction fees are based on the number of trades executed by the Advisors and the Partnership’s respective percentage ownership of each Fund. All clearing fees paid to MS&Co. are borne directly by the Partnership for its direct trading. In addition, clearing fees are borne by the Funds and allocated to the limited partners/members, including the Partnership. The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of September 30, 2016. Gross Amounts Offset in the Net Amounts Presented in the Gross Amounts Not Offset in the Statements of Financial Condition September 30, 2016 Gross Amounts Recognized Statements of Statements of Financial Cash Collateral Received/ Net Amount Assets Futures $ 499,724 $ (296,337) $ 203,387 $ - $ - $ 203,387 Forwards 256,279 (160,321) 95,958 - - 95,958 Total assets $ 756,003 $ (456,658) $ 299,345 $ - $ - $ 299,345 Liabilities Futures $ (296,337) $ 296,337 $ - $ - $ - $ - Forwards (160,321) 160,321 - - - - Total liabilities $ (456,658) $ 456,658 $ - $ - $ - $ - Net fair value $ 299,345 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s off-exchange-traded contracts, as applicable, has the right to offset the Partnership’s obligation with the Partnership’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Partnership is exposed to the amount shown in the Statements of Financial Condition. In the case of exchange-traded contracts, the Partnership’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default. The following tables indicate the gross fair values of derivative instruments of futures and forward contracts held directly by the Partnership as separate assets and liabilities as of September 30, 2016. September 30, 2016 Assets Futures Contracts Currencies $ 11,071 Grains 84,518 Indices 65,934 Interest Rates U.S. 6,039 Interest Rates Non-U.S. 30,645 Livestock 140,150 Metals 13,880 Softs 147,487 Total unrealized appreciation on open futures contracts 499,724 Liabilities Futures Contracts Currencies (800) Energy (128,279) Grains (41,971) Indices (14,468) Interest Rates U.S. (4,742) Interest Rates Non-U.S. (41,337) Metals (20,465) Softs (44,275) Total unrealized depreciation on open futures contracts (296,337) Net unrealized appreciation on open futures contracts $ 203,387 * Assets Forward Contracts Currencies $ 164,758 Metals 91,521 Total unrealized appreciation on open forward contracts 256,279 Liabilities Forward Contracts Currencies (90,531) Metals (69,790) Total unrealized depreciation on open forward contracts (160,321) Net unrealized appreciation on open forward contracts $ 95,958 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward 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 nine months ended September 30, 2016. During the three and nine months ended September 30, 2015, no derivative instruments were traded directly by the Partnership. Sector Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Currencies $ 1,581 $ 1,581 Energy (186,309) (186,309) Grains 73,220 73,220 Indices (66,124) (66,124) Interest Rates U.S. (42,204) (42,204) Interest Rates Non-U.S. (182,108) (182,108) Livestock 201,850 201,850 Metals (64,824) (64,824) Softs 64,451 64,451 Total $ (200,467) *** $ (200,467) *** *** This amount is included in “Total trading results” in the Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Partnership’s and the Funds’ Fair Value Measurements The fair value of exchange-traded futures, option and forward contracts is determined by the various exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as input the spot prices, interest rates, and option implied volatilities quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period. U.S. Treasury bills are valued at the last available bid price received from independent pricing services as of the close of the last business day of the reporting period. The Partnership and the Funds consider prices for exchange-traded commodity futures, forward, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of U.S. Treasury bills, non-exchange-traded forward, swap and certain option contracts for which market quotations are not readily available are priced by broker quotes or pricing services that derive fair values for those assets and liabilities from observable inputs (Level 2). As of September 30, 2016 and December 31, 2015 and for the periods ended September 30, 2016 and 2015, the Partnership and the Funds did not hold any derivative instruments that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). Transfers between levels are recognized at the end of the reporting period. During the reporting periods, there were no transfers of assets or liabilities between Level 1 and Level 2. September 30, 2016 Total Level 1 Level 2 Level 3 Assets Futures $ 499,724 $ 499,724 $ - $ - Forwards 256,279 91,521 164,758 - Total Assets $ 756,003 $ 591,245 $ 164,758 $ - Liabilities Futures $ 296,337 $ 296,337 $ - $ - Forwards 160,321 69,790 90,531 - Total Liabilities $ 456,658 $ 366,127 $ 90,531 $ -

Investment in the Funds

Investment in the Funds	9 Months Ended
	Sep. 30, 2016
Schedule of Investments [Abstract]
Investment in the Funds	6. Investment in the Funds: On March 1, 2005, the assets allocated to Aspect for trading were invested in Aspect Master, a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 131,340.8450 units of Aspect Master with cash equal to $122,786,448 and a contribution of open commodity futures and forward contracts with a fair value of $8,554,397. Aspect Master permits accounts managed by Aspect using the Diversified Program, a proprietary, systematic trading system, to invest together in one trading vehicle. The General Partner is also the general partner of Aspect Master. Individual and pooled accounts currently managed by Aspect, including the Partnership, are permitted to be limited partners of Aspect Master. The General Partner and Aspect believe that trading through this structure should promote efficiency and economy in the trading process. On July 1, 2005, the assets allocated to Willowbridge for trading were invested in Willowbridge Master (formerly CMF Willowbridge Argo Master Fund L.P.), a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 95,795.8082 units of Willowbridge Master with cash equal to $85,442,868 and a contribution of open commodity futures and forward contracts with a fair value of $10,352,940. Willowbridge Master permits accounts managed by Willowbridge using its wPraxis Futures Trading Approach, a proprietary, discretionary trading system, to invest together in one trading vehicle. The General Partner is also the general partner of Willowbridge Master. Individual and pooled accounts currently managed by Willowbridge, including the Partnership, are permitted to be limited partners of Willowbridge Master. The General Partner and Willowbridge believe that trading through this structure should promote efficiency and economy in the trading process. The General Partner and Willowbridge have agreed that Willowbridge will trade the assets allocated to Willowbridge at a level up to 3 times the amount of assets allocated. Prior to January 1, 2013, Willowbridge traded the Partnership’s assets pursuant to its Argo Trading System. On June 1, 2006, the assets allocated to Graham for trading were invested in Graham Master, a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 101,486.0491 units of Graham Master with cash equal to $103,008,482. Graham Master permits accounts managed by Graham using the K4D-15V Program, a proprietary, systematic trading system, to invest together in one trading vehicle. The General Partner is also the general partner of Graham Master. Individual and pooled accounts currently managed by Graham, including the Partnership, are permitted to be limited partners of Graham Master. The General Partner and Graham believe that trading through this structure should promote efficiency and economy in the trading process. On May 1, 2011, the assets allocated to Altis for trading were invested in Altis Master, a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 21,851.9469 units of Altis Master with cash equal to $70,000,000. Altis Master permits commodity pools managed now and in the future by Altis using the Global Futures Portfolio Program, a proprietary, systematic trading system, to invest together in one trading vehicle. The Partnership fully redeemed its investment in Altis Master on June 30, 2016 for cash equal to $19,215,106. On January 1, 2013, the assets allocated to Boronia for trading were invested in Boronia I, LLC, a limited liability company organized under the limited liability company laws of the State of Delaware. The Partnership purchased an interest in Boronia I, LLC with cash equal to $36,000,000. Boronia I, LLC permits accounts managed by Boronia using the Boronia Diversified Program, a proprietary, systematic trading system, to invest together in one trading vehicle. The General Partner is also the trading manager of Boronia I, LLC. Individual and pooled accounts currently managed by Boronia, including the Partnership, are permitted to be members of Boronia I, LLC. The Trading Manager and Boronia believe that trading through this structure should promote efficiency and economy in the trading process. The Trading Manager and Boronia agreed that Boronia will trade the Partnership’s assets allocated to Boronia at a level up to 1.5 times the amount of assets allocated. On August 1, 2013, the assets allocated to JE Moody for trading were invested in JEM Master, a limited partnership organized under the partnership laws of the State of Delaware. The Partnership purchased 11,968.0895 units of JEM Master with cash equal to $15,820,000. JEM Master permits accounts managed by JE Moody using the JEM Commodity Relative Value Program, a proprietary, systematic trading program, to invest together in one trading vehicle. The General Partner is also the general partner of JEM Master. Individual and pooled accounts currently managed by JE Moody, including the Partnership, are permitted to be limited partners of JEM Master. The General Partner and JE Moody believe that trading through this structure should promote efficiency and economy in the trading process. The General Partner and JE Moody agreed that JE Moody will trade the Partnership’s assets allocated to JE Moody at a level that is up to 3 times the amount of assets allocated. The Partnership fully redeemed its investment in JEM Master on September 30, 2016 for cash equal to $9,054,379. On December 1, 2015, the assets allocated to Cambridge for trading were invested in Cambridge Master, a limited partnership organized under the partnership laws of the State of Delaware. The Partnership purchased an interest in Cambridge Master with cash equal to $17,000,000. Cambridge Master permits accounts managed by Cambridge using the Asian Markets Alpha Programme and the Emerging Markets Alpha Programme, each a proprietary, systematic trading program, to invest together in one trading vehicle. The General Partner is also the general partner of Cambridge Master. Individual and pooled accounts currently managed by Cambridge, including the Partnership, are permitted to be limited partners of Cambridge Master. The General Partner and Cambridge believe that trading through this structure should promote 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 decreased in the future. However, in no event will the amount of leverage be greater than 2 times the amount of assets allocated. The General Partner is not aware of any material changes to the trading programs discussed above during the fiscal quarter ended September 30, 2016. The Funds’ and the Partnership’s trading of futures, forward and option contracts, if applicable, on commodities is done primarily on U.S. and foreign commodity exchanges. The Funds and the Partnership engage in such trading through commodity brokerage accounts maintained with MS&Co. Generally, a limited partner/member in the Funds withdraws all or part of its capital contribution and undistributed profits, if any, from the Funds 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 Funds. However, 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, General Partner fees, ongoing selling agent fees and incentive fees are charged at the Partnership level, except for management and incentive fees payable to Boronia which are charged at the Boronia Trading Company level. Clearing fees are borne by the Funds and allocated to the Funds’ limited partners/non-managing members, including the Partnership. Clearing fees are also borne by the Partnership directly. Professional fees are borne by the Funds and allocated to the Partnership, and also charged directly at the Partnership level. As of September 30, 2016, the Partnership owned approximately 10.0% of Willowbridge Master, 44.8% of Aspect Master, 70.3% of Graham Master, 34.3% of Boronia I, LLC and 45.5% of Cambridge Master. At December 31, 2015, the Partnership owned approximately 13.7% of Willowbridge Master, 55.3% of Aspect Master, 72.7% of Graham Master, 59.7% of Altis Master, 61.0% of JEM Master, 48.8% of Boronia I, LLC and 28.3% of Cambridge Master. It is the Partnership’s intention to continue to invest in the Funds. The performance of the Partnership is directly affected by the performance of the Funds. Expenses to investors as a result of investment in the 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 Funds is shown in the following tables. September 30, 2016 Total Assets Total Liabilities Total Capital Willowbridge Master $ 371,349,533 $ 762,132 $ 370,587,401 Aspect Master 54,968,036 34,479 54,933,557 Graham Master 40,444,499 16,895 40,427,604 JEM Master 12,892,646 12,892,646 - Boronia I, LLC 53,344,006 515,156 52,828,850 Cambridge Master 73,304,043 959,204 72,344,839 December 31, 2015 Total Assets Total Liabilities Total Capital Willowbridge Master $ 351,368,221 $ 2,668,272 $ 348,699,949 Aspect Master 68,986,804 521,227 68,465,577 Graham Master 52,819,144 17,985 52,801,159 Altis Master 44,778,165 463,886 44,314,279 JEM Master 11,192,959 67,453 11,125,506 Boronia I, LLC 74,378,857 119,223 74,259,634 Cambridge Master 59,992,404 282,482 59,709,922 Summarized information reflecting the net investment income (loss), total trading results and net income (loss) of the Funds is shown in the following tables. For the three months ended September 30, 2016 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (38,070) $ (8,182,932) $ (8,221,002) Aspect Master (17,102) (780,337) (797,439) Graham Master (15,620) (1,390,129) (1,405,749) JEM Master (111,911) 1,089,745 977,834 Boronia I, LLC (601,850) (7,110,962) (7,712,812) Cambridge Master (3,827) (5,491,999) (5,495,826) For the nine months ended September 30, 2016 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (222,525) $ (18,740,739) $ (18,963,264) Aspect Master (71,218) (252,863) (324,081) Graham Master (67,316) (1,735,913) (1,803,229) JEM Master (380,665) (17,095) (397,760) Boronia I, LLC (2,375,665) 4,386,573 2,010,908 Cambridge Master 3,746 (2,913,416) (2,909,670) For the three months ended September 30, 2015 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (145,834) $ 28,756,543 $ 28,610,709 Aspect Master (55,404) 8,636,148 8,580,744 Graham Master (45,272) 283,163 237,891 Altis Master (79,868) 2,601,937 2,522,069 JEM Master (205,158) 172,874 (32,284) Boronia I, LLC (1,075,317) 8,917,469 7,842,152 For the nine months ended September 30, 2015 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (636,638) $ 15,134,368 $ 14,497,730 Aspect Master (182,077) 6,261,137 6,079,060 Graham Master (154,142) 3,536,460 3,382,318 Altis Master (222,930) 675,898 452,968 JEM Master (724,097) 1,191,983 467,886 Boronia I, LLC (4,665,174) (7,844,128) (12,509,302) Summarized information reflecting the Partnership’s investment in and the Partnership’s pro rata share of the results of operations of the Funds is shown in the following tables. September 30, 2016 For the three months ended September 30, 2016 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.17% $ 37,223,772 $ (788,893) $ 27,118 $ 2,087 $ - $ - $ (818,098) Commodity Monthly Aspect Master 15.32% 24,604,677 (296,939) 13,167 9,029 - - (319,135) Commodity Monthly Graham Master 17.68% 28,411,087 (975,625) 15,932 14,494 - - (1,006,051) Commodity Monthly JEM Master 0.00% - 748,909 70,008 10,325 - - 668,576 Commodity Monthly Boronia I, LLC 11.29% 18,134,764 (2,397,584) 130,240 17,891 76,381 206 (2,622,302) Commodity Monthly Cambridge Master 20.51% 32,950,263 (2,462,037) 14,542 9,103 - - (2,485,682) Commodity Monthly Total $ 141,324,563 $ (6,172,169) $ 271,007 $ 62,929 $ 76,381 $ 206 $ (6,582,692) September 30, 2016 For the nine months ended September 30, 2016 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.17% $ 37,223,772 $ (1,898,638) $ 89,721 $ 6,873 $ - $ - $ (1,995,232) Commodity Monthly Aspect Master 15.32% 24,604,677 94,544 44,735 30,607 - - 19,202 Commodity Monthly Graham Master 17.68% 28,411,087 (1,147,820) 52,397 44,070 - - (1,244,287) Commodity Monthly Altis Master 0.00% - (3,222,037) 77,805 30,569 - - (3,330,411) Commodity Monthly JEM Master 0.00% - 57,484 218,771 36,013 - - (197,300) Commodity Monthly Boronia I, LLC 11.29% 18,134,764 2,772,858 426,663 64,350 274,766 220,305 1,786,774 Commodity Monthly Cambridge Master 20.51% 32,950,263 (1,540,467) 29,009 25,290 - - (1,594,766) Commodity Monthly Total $ 141,324,563 $ (4,884,076) $ 939,101 $ 237,772 $ 274,766 $ 220,305 $ (6,556,020) December 31, 2015 For the three months ended September 30, 2015 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.12% $ 47,827,925 $ 4,379,446 $ 22,968 $ 3,463 $ - $ - $ 4,353,015 Commodity Monthly Aspect Master 18.31% 37,891,702 4,773,360 15,579 15,084 - - 4,742,697 Commodity Monthly Graham Master 18.56% 38,390,905 207,824 17,081 15,844 - - 174,899 Commodity Monthly Altis Master 12.80% 26,474,103 1,608,832 35,894 14,286 - - 1,558,652 Commodity Monthly JEM Master 3.28% 6,784,895 102,625 122,436 14,685 - - (34,496) Commodity Monthly Boronia I, LLC 17.53% 36,257,683 4,450,900 329,232 43,046 184,486 - 3,894,136 Commodity Monthly Cambridge Master 8.18% 16,920,970 - - - - - - Commodity Monthly Total $ 210,548,183 $ 15,522,987 $ 543,190 $ 106,408 $ 184,486 $ - $ 14,688,903 December 31, 2015 For the nine months ended September 30, 2015 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.12% $ 47,827,925 $ 2,347,693 $ 101,103 $ 13,179 $ - $ - $ 2,233,411 Commodity Monthly Aspect Master 18.31% 37,891,702 3,416,617 55,997 46,397 - - 3,314,223 Commodity Monthly Graham Master 18.56% 38,390,905 2,467,199 59,641 52,519 - - 2,355,039 Commodity Monthly Altis Master 12.80% 26,474,103 629,239 93,877 50,121 - - 485,241 Commodity Monthly JEM Master 3.28% 6,784,895 931,189 431,113 49,406 - - 450,670 Commodity Monthly Boronia I, LLC 17.53% 36,257,683 (4,019,987) 1,142,117 149,616 641,217 455,860 (6,408,797) Commodity Monthly Cambridge Master 8.18% 16,920,970 - - - - - - Commodity Monthly Total $ 210,548,183 $ 5,771,950 $ 1,883,848 $ 361,238 $ 641,217 $ 455,860 $ 2,429,787

Financial Instrument Risks

Financial Instrument Risks	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Financial Instrument Risks	7. Financial Instrument Risks: In the normal course of business, the Partnership and the Funds are party to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include forward, futures, option and swap contracts, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, to purchase or sell other financial instruments at specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange, a swap execution facility or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, swap and option contracts. Specific market movements of commodities or futures contracts underlying an option cannot accurately be predicted. The purchaser of an option may lose the entire premium paid for the option. Certain swap contracts may also be traded on a swap execution facility or OTC. OTC contracts are negotiated between contracting parties and also include certain forward, swap and option contracts. Each of these instruments is subject to various risks similar to those related to the underlying financial instruments, including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange-traded instruments because of the greater risk of default by the counterparty to an OTC contract. The General Partner estimates that at any given time approximately 57.4% to 73.0% of the Partnership’s/Funds’ contracts are traded OTC. Futures Contracts. Forward Foreign Currency Contracts. London Metals Exchange Forward Contracts. Options. As both a buyer and seller of options, the Partnership/Fund pay or receive a premium at the outset and then bear the risk of unfavorable changes in the price of the contract underlying the option. Written options expose the Partnership/Funds to potentially unlimited liability; for purchased options, the risk of loss is limited to the premiums paid. Certain written put options permit cash settlement and do not require the option holder to own the reference asset. The Partnership/Funds do not consider these contracts to be guarantees. The Partnership and the 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 from changes in market prices of investments held. Such fluctuations are included in total trading results in the Partnership’s/Funds’ Statements of Income and Expenses and Changes in Partners’ Capital. Market risk is the potential for changes in the value of the financial instruments traded by the Partnership/Funds due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. Market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are traded. The Partnership and the Funds are 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 Partnership’s/Funds’ risk of loss in the event of a counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and is not represented by the contract or notional amounts of the instruments. The Partnership’s/Funds’ risk of loss is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership/Funds to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership/Funds have credit risk and concentration risk, as either MS&Co. or an MS&Co. affiliate is the sole counterparty or broker with respect to the Partnership’s/Funds’ assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through MS&Co. or an MS&Co. affiliate, the Partnership’s/Funds’ counterparty is an exchange or clearing organization. The General Partner monitors and attempts to control the Partnership’s/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/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, forward and option contracts by sector, margin requirements, gain and loss transactions and collateral positions. The majority of these financial instruments mature within one year of the inception date. However, due to the nature of Partnership’s/Funds’ business, these instruments may not be held to maturity. 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.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events: The General Partner evaluates events that occur after the balance sheet date but before financial statements are issued. The General Partner has assessed the subsequent events through the date of issuance and 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)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates
Profit Allocation	Profit Allocation.
Statement of Cash Flows	Statement of Cash Flows.
Partnership's Investments in the Funds	Partnership’s Investments in the Funds.
Partnership's/Funds' Derivative Investments	Partnership’s/Funds’ Derivative Investments.
Partnership's Cash	Partnership’s Cash.
Income Taxes	Income Taxes.
Investment Company Status	Investment Company Status. , “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
Fair Value of Financial Instruments	Fair Value of Financial Instruments “Financial Instruments,”
Recent Accounting Pronouncement	Recent Accounting Pronouncement. “Recognition and Measurement of Financial Assets and Financial Liabilities.” There have been no material changes with respect to the Partnership’s critical accounting policies as reported in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2015.
Partnership's and the Funds' Fair Value Measurements	Partnership’s and the Funds’ Fair Value Measurements The fair value of exchange-traded futures, option and forward contracts is determined by the various exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as input the spot prices, interest rates, and option implied volatilities quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period. U.S. Treasury bills are valued at the last available bid price received from independent pricing services as of the close of the last business day of the reporting period. The Partnership and the Funds consider prices for exchange-traded commodity futures, forward, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of U.S. Treasury bills, non-exchange-traded forward, swap and certain option contracts for which market quotations are not readily available are priced by broker quotes or pricing services that derive fair values for those assets and liabilities from observable inputs (Level 2). As of September 30, 2016 and December 31, 2015 and for the periods ended September 30, 2016 and 2015, the Partnership and the Funds did not hold any derivative instruments that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). Transfers between levels are recognized at the end of the reporting period. During the reporting periods, there were no transfers of assets or liabilities between Level 1 and Level 2.

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Schedule of Changes in Net Asset Value	Financial highlights for the limited partner class as a whole for the three and nine months ended September 30, 2016 and 2015 were as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) (34.78) 67.63 (29.64) 22.52 Net investment loss (12.65) (14.74) (41.62) (54.74) Increase (decrease) for the period (47.43) 52.89 (71.26) (32.22) Net asset value per Redeemable Unit, beginning of period 957.62 924.98 981.45 1,010.09 Net asset value per Redeemable Unit, end of period $ 910.19 $ 977.87 $ 910.19 $ 977.87
Ratios to Average Limited Partners' Capital	Three Months Ended Nine Months Ended 2016 2015 2016 2015 Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) (34.78) 67.63 (29.64) 22.52 Net investment loss (12.65) (14.74) (41.62) (54.74) Increase (decrease) for the period (47.43) 52.89 (71.26) (32.22) Net asset value per Redeemable Unit, beginning of period 957.62 924.98 981.45 1,010.09 Net asset value per Redeemable Unit, end of period $ 910.19 $ 977.87 $ 910.19 $ 977.87 Three Months Ended Nine Months Ended 2016 2015 2016 2015 Ratios to Average Limited Partners’ Capital:** Net investment loss*** (5.4) % (6.1) % (5.7) % (7.1) % Operating expenses 5.7 % 6.2 % 5.7 % 6.5 % Incentive fees 0.0 % **** - % 0.2 % 0.7 % Total expenses 5.7 % 6.2 % 5.9 % 7.2 % Total return: Total return before incentive fees (5.0) % 5.7 % (7.1) % (2.5) % Incentive fees (0.0) % **** - % (0.2) % (0.7) % Total return after incentive fees (5.0) % 5.7 % (7.3) % (3.2) % * Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income less total expenses. **** Due to rounding.

Trading Activities (Tables)

Trading Activities (Tables)	9 Months Ended
	Sep. 30, 2016
Brokers and Dealers [Abstract]
Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives	The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of September 30, 2016. Gross Amounts Offset in the Net Amounts Presented in the Gross Amounts Not Offset in the Statements of Financial Condition September 30, 2016 Gross Amounts Recognized Statements of Statements of Financial Cash Collateral Received/ Net Amount Assets Futures $ 499,724 $ (296,337) $ 203,387 $ - $ - $ 203,387 Forwards 256,279 (160,321) 95,958 - - 95,958 Total assets $ 756,003 $ (456,658) $ 299,345 $ - $ - $ 299,345 Liabilities Futures $ (296,337) $ 296,337 $ - $ - $ - $ - Forwards (160,321) 160,321 - - - - Total liabilities $ (456,658) $ 456,658 $ - $ - $ - $ - Net fair value $ 299,345 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s off-exchange-traded contracts, as applicable, has the right to offset the Partnership’s obligation with the Partnership’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Partnership is exposed to the amount shown in the Statements of Financial Condition. In the case of exchange-traded contracts, the Partnership’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default.
Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded	The following tables indicate the gross fair values of derivative instruments of futures and forward contracts held directly by the Partnership as separate assets and liabilities as of September 30, 2016. September 30, 2016 Assets Futures Contracts Currencies $ 11,071 Grains 84,518 Indices 65,934 Interest Rates U.S. 6,039 Interest Rates Non-U.S. 30,645 Livestock 140,150 Metals 13,880 Softs 147,487 Total unrealized appreciation on open futures contracts 499,724 Liabilities Futures Contracts Currencies (800) Energy (128,279) Grains (41,971) Indices (14,468) Interest Rates U.S. (4,742) Interest Rates Non-U.S. (41,337) Metals (20,465) Softs (44,275) Total unrealized depreciation on open futures contracts (296,337) Net unrealized appreciation on open futures contracts $ 203,387 * Assets Forward Contracts Currencies $ 164,758 Metals 91,521 Total unrealized appreciation on open forward contracts 256,279 Liabilities Forward Contracts Currencies (90,531) Metals (69,790) Total unrealized depreciation on open forward contracts (160,321) Net unrealized appreciation on open forward contracts $ 95,958 ** * This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Statements of Financial Condition.
Trading Gains and Losses by Market Sector on Derivative Instruments Traded	The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three and nine months ended September 30, 2016. During the three and nine months ended September 30, 2015, no derivative instruments were traded directly by the Partnership. Sector Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Currencies $ 1,581 $ 1,581 Energy (186,309) (186,309) Grains 73,220 73,220 Indices (66,124) (66,124) Interest Rates U.S. (42,204) (42,204) Interest Rates Non-U.S. (182,108) (182,108) Livestock 201,850 201,850 Metals (64,824) (64,824) Softs 64,451 64,451 Total $ (200,467) *** $ (200,467) *** *** This amount is included in “Total trading results” in the Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Derivative Instruments Priced at Fair Value Using Unobservable Inputs	During the reporting periods, there were no transfers of assets or liabilities between Level 1 and Level 2. September 30, 2016 Total Level 1 Level 2 Level 3 Assets Futures $ 499,724 $ 499,724 $ - $ - Forwards 256,279 91,521 164,758 - Total Assets $ 756,003 $ 591,245 $ 164,758 $ - Liabilities Futures $ 296,337 $ 296,337 $ - $ - Forwards 160,321 69,790 90,531 - Total Liabilities $ 456,658 $ 366,127 $ 90,531 $ -

Investment in the Funds (Tables

Investment in the Funds (Tables)	9 Months Ended
	Sep. 30, 2016
Schedule of Investments [Abstract]
Assets, Liabilities and Partners'/Members' Capital of Funds	Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Funds is shown in the following tables. September 30, 2016 Total Assets Total Liabilities Total Capital Willowbridge Master $ 371,349,533 $ 762,132 $ 370,587,401 Aspect Master 54,968,036 34,479 54,933,557 Graham Master 40,444,499 16,895 40,427,604 JEM Master 12,892,646 12,892,646 - Boronia I, LLC 53,344,006 515,156 52,828,850 Cambridge Master 73,304,043 959,204 72,344,839 December 31, 2015 Total Assets Total Liabilities Total Capital Willowbridge Master $ 351,368,221 $ 2,668,272 $ 348,699,949 Aspect Master 68,986,804 521,227 68,465,577 Graham Master 52,819,144 17,985 52,801,159 Altis Master 44,778,165 463,886 44,314,279 JEM Master 11,192,959 67,453 11,125,506 Boronia I, LLC 74,378,857 119,223 74,259,634 Cambridge Master 59,992,404 282,482 59,709,922
Net Investment Income (Loss), Trading Results and Net Income (Loss) of Funds	Summarized information reflecting the net investment income (loss), total trading results and net income (loss) of the Funds is shown in the following tables. For the three months ended September 30, 2016 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (38,070) $ (8,182,932) $ (8,221,002) Aspect Master (17,102) (780,337) (797,439) Graham Master (15,620) (1,390,129) (1,405,749) JEM Master (111,911) 1,089,745 977,834 Boronia I, LLC (601,850) (7,110,962) (7,712,812) Cambridge Master (3,827) (5,491,999) (5,495,826) For the nine months ended September 30, 2016 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (222,525) $ (18,740,739) $ (18,963,264) Aspect Master (71,218) (252,863) (324,081) Graham Master (67,316) (1,735,913) (1,803,229) JEM Master (380,665) (17,095) (397,760) Boronia I, LLC (2,375,665) 4,386,573 2,010,908 Cambridge Master 3,746 (2,913,416) (2,909,670) For the three months ended September 30, 2015 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (145,834) $ 28,756,543 $ 28,610,709 Aspect Master (55,404) 8,636,148 8,580,744 Graham Master (45,272) 283,163 237,891 Altis Master (79,868) 2,601,937 2,522,069 JEM Master (205,158) 172,874 (32,284) Boronia I, LLC (1,075,317) 8,917,469 7,842,152 For the nine months ended September 30, 2015 Net Investment Total Trading Net Income (Loss) Willowbridge Master $ (636,638) $ 15,134,368 $ 14,497,730 Aspect Master (182,077) 6,261,137 6,079,060 Graham Master (154,142) 3,536,460 3,382,318 Altis Master (222,930) 675,898 452,968 JEM Master (724,097) 1,191,983 467,886 Boronia I, LLC (4,665,174) (7,844,128) (12,509,302)
Partnership's Investments in, and Partners' Pro Rata Share of Results of Operations of, Funds	Summarized information reflecting the Partnership’s investment in and the Partnership’s pro rata share of the results of operations of the Funds is shown in the following tables. September 30, 2016 For the three months ended September 30, 2016 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.17% $ 37,223,772 $ (788,893) $ 27,118 $ 2,087 $ - $ - $ (818,098) Commodity Monthly Aspect Master 15.32% 24,604,677 (296,939) 13,167 9,029 - - (319,135) Commodity Monthly Graham Master 17.68% 28,411,087 (975,625) 15,932 14,494 - - (1,006,051) Commodity Monthly JEM Master 0.00% - 748,909 70,008 10,325 - - 668,576 Commodity Monthly Boronia I, LLC 11.29% 18,134,764 (2,397,584) 130,240 17,891 76,381 206 (2,622,302) Commodity Monthly Cambridge Master 20.51% 32,950,263 (2,462,037) 14,542 9,103 - - (2,485,682) Commodity Monthly Total $ 141,324,563 $ (6,172,169) $ 271,007 $ 62,929 $ 76,381 $ 206 $ (6,582,692) September 30, 2016 For the nine months ended September 30, 2016 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.17% $ 37,223,772 $ (1,898,638) $ 89,721 $ 6,873 $ - $ - $ (1,995,232) Commodity Monthly Aspect Master 15.32% 24,604,677 94,544 44,735 30,607 - - 19,202 Commodity Monthly Graham Master 17.68% 28,411,087 (1,147,820) 52,397 44,070 - - (1,244,287) Commodity Monthly Altis Master 0.00% - (3,222,037) 77,805 30,569 - - (3,330,411) Commodity Monthly JEM Master 0.00% - 57,484 218,771 36,013 - - (197,300) Commodity Monthly Boronia I, LLC 11.29% 18,134,764 2,772,858 426,663 64,350 274,766 220,305 1,786,774 Commodity Monthly Cambridge Master 20.51% 32,950,263 (1,540,467) 29,009 25,290 - - (1,594,766) Commodity Monthly Total $ 141,324,563 $ (4,884,076) $ 939,101 $ 237,772 $ 274,766 $ 220,305 $ (6,556,020) December 31, 2015 For the three months ended September 30, 2015 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.12% $ 47,827,925 $ 4,379,446 $ 22,968 $ 3,463 $ - $ - $ 4,353,015 Commodity Monthly Aspect Master 18.31% 37,891,702 4,773,360 15,579 15,084 - - 4,742,697 Commodity Monthly Graham Master 18.56% 38,390,905 207,824 17,081 15,844 - - 174,899 Commodity Monthly Altis Master 12.80% 26,474,103 1,608,832 35,894 14,286 - - 1,558,652 Commodity Monthly JEM Master 3.28% 6,784,895 102,625 122,436 14,685 - - (34,496) Commodity Monthly Boronia I, LLC 17.53% 36,257,683 4,450,900 329,232 43,046 184,486 - 3,894,136 Commodity Monthly Cambridge Master 8.18% 16,920,970 - - - - - - Commodity Monthly Total $ 210,548,183 $ 15,522,987 $ 543,190 $ 106,408 $ 184,486 $ - $ 14,688,903 December 31, 2015 For the nine months ended September 30, 2015 % of Expenses Net Funds Fair Income Clearing Professional Management Incentive Investment Redemptions Willowbridge Master 23.12% $ 47,827,925 $ 2,347,693 $ 101,103 $ 13,179 $ - $ - $ 2,233,411 Commodity Monthly Aspect Master 18.31% 37,891,702 3,416,617 55,997 46,397 - - 3,314,223 Commodity Monthly Graham Master 18.56% 38,390,905 2,467,199 59,641 52,519 - - 2,355,039 Commodity Monthly Altis Master 12.80% 26,474,103 629,239 93,877 50,121 - - 485,241 Commodity Monthly JEM Master 3.28% 6,784,895 931,189 431,113 49,406 - - 450,670 Commodity Monthly Boronia I, LLC 17.53% 36,257,683 (4,019,987) 1,142,117 149,616 641,217 455,860 (6,408,797) Commodity Monthly Cambridge Master 8.18% 16,920,970 - - - - - - Commodity Monthly Total $ 210,548,183 $ 5,771,950 $ 1,883,848 $ 361,238 $ 641,217 $ 455,860 $ 2,429,787

Organization - Additional Infor

Organization - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2016	Oct. 07, 2004	Dec. 04, 2003	Apr. 30, 2003
Partnership Organization And Basis Of Presentation [Line Items]
Number of redeemable units of limited partnership interest for public offer				36,616
Value of redeemable units				$ 1,000
Redeemable units of limited partnership interest authorized for public offer		1,000,000	700,000	300,000
Maximum number of Redeemable Units sold by the Partnership	0
Morgan Stanley Wealth Management [Member]
Partnership Organization And Basis Of Presentation [Line Items]
Brokerage fees payable	2.00%
Maximum [Member]
Partnership Organization And Basis Of Presentation [Line Items]
Number of redeemable units of limited partnership interest for public offer	200,000

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Cash denominated in foreign currencies	$ (287,524)	$ 0
Cash denominated in foreign currencies, cost	0	$ 0
Cash denominated in foreign currencies, proceeds	286,804
Provision for income tax	$ 0

Financial Highlights - Schedule

Financial Highlights - Schedule of Changes in Net Asset Value (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	$ (34.78)	$ 67.63	$ (29.64)	$ 22.52
Net investment loss	(12.65)	(14.74)	(41.62)	(54.74)
Increase (decrease) for the period	(47.43)	52.89	(71.26)	(32.22)
Net asset value per Redeemable Unit, beginning of period	957.62	924.98	981.45	1,010.09
Net asset value per Redeemable Unit, end of period	$ 910.19	$ 977.87	$ 910.19	$ 977.87

Financial Highlights - Ratios t

Financial Highlights - Ratios to Average Limited Partners' Capital (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Ratios to Average Limited Partners' Capital:
Net investment loss	(5.40%)	(6.10%)	(5.70%)	(7.10%)
Operating expenses	5.70%	6.20%	5.70%	6.50%
Incentive fees	0.00%		0.20%	0.70%
Total expenses	5.70%	6.20%	5.90%	7.20%
Total return before incentive fees	(5.00%)	5.70%	(7.10%)	(2.50%)
Incentive fees	(0.00%)		(0.20%)	(0.70%)
Total return after incentive fees	(5.00%)	5.70%	(7.30%)	(3.20%)

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)Contracts	Sep. 30, 2016USD ($)Contracts	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Trading Activity, Gains and Losses, Net [Line Items]
Direct investments			$ 0
Partnership [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Direct investments				$ 0
Futures Contracts [Member] | Partnership [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held | Contracts	1,290	1,290
Forward Contracts [Member] | Metals [Member] | Partnership [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held | Contracts	48	48
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional value of derivative	$ 23,940,288	$ 23,940,288

Trading Activities - Summary of

Trading Activities - Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives (Detail)	Sep. 30, 2016USD ($)
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 756,003
Gross Amounts Offset in the Statements of Financial Condition, Assets	(456,658)
Amounts Presented in the Statements of Financial Condition, Assets	299,345
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Net Amount, Assets	299,345
Gross Amounts Recognized, Liabilities	(456,658)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	456,658
Amounts Presented in the Statements of Financial Condition, Liabilities	0
Financial Instruments, Liabilities	0
Cash Collateral Received/Pledged, Liabilities	0
Net Amount, Liabilities	0
Net fair value	299,345
Futures Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	499,724
Gross Amounts Offset in the Statements of Financial Condition, Assets	(296,337)
Amounts Presented in the Statements of Financial Condition, Assets	203,387
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Net Amount, Assets	203,387
Gross Amounts Recognized, Liabilities	(296,337)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	296,337
Amounts Presented in the Statements of Financial Condition, Liabilities	0
Financial Instruments, Liabilities	0
Cash Collateral Received/Pledged, Liabilities	0
Net Amount, Liabilities	0
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	256,279
Gross Amounts Offset in the Statements of Financial Condition, Assets	(160,321)
Amounts Presented in the Statements of Financial Condition, Assets	95,958
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Net Amount, Assets	95,958
Gross Amounts Recognized, Liabilities	(160,321)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	160,321
Amounts Presented in the Statements of Financial Condition, Liabilities	0
Financial Instruments, Liabilities	0
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)	Sep. 30, 2016USD ($)
Futures Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	$ 499,724
Total unrealized depreciation on open contracts	(296,337)
Net unrealized appreciation on open contracts	203,387
Futures Contracts [Member] | Energy [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized depreciation on open contracts	(128,279)
Futures Contracts [Member] | Indices [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	65,934
Total unrealized depreciation on open contracts	(14,468)
Futures Contracts [Member] | Interest Rates U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	6,039
Total unrealized depreciation on open contracts	(4,742)
Futures Contracts [Member] | Interest Rates Non-U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	30,645
Total unrealized depreciation on open contracts	(41,337)
Futures Contracts [Member] | Metals [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	13,880
Total unrealized depreciation on open contracts	(20,465)
Futures Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	11,071
Total unrealized depreciation on open contracts	(800)
Futures Contracts [Member] | Grains [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	84,518
Total unrealized depreciation on open contracts	(41,971)
Futures Contracts [Member] | Livestock [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	140,150
Futures Contracts [Member] | Softs [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	147,487
Total unrealized depreciation on open contracts	(44,275)
Forward Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	256,279
Total unrealized depreciation on open contracts	(160,321)
Net unrealized appreciation on open contracts	95,958
Forward Contracts [Member] | Metals [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	91,521
Total unrealized depreciation on open contracts	(69,790)
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	164,758
Total unrealized depreciation on open contracts	$ (90,531)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses by Market Sector on Derivative Instruments Traded (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	$ (6,460,818)	$ 15,510,709	$ (5,347,957)	$ 5,753,495
Derivative [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(200,467)		(200,467)
Derivative [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	1,581		1,581
Derivative [Member] | Energy [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(186,309)		(186,309)
Derivative [Member] | Grains [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	73,220		73,220
Derivative [Member] | Indices [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(66,124)		(66,124)
Derivative [Member] | Interest Rates U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(42,204)		(42,204)
Derivative [Member] | Interest Rates Non-U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(182,108)		(182,108)
Derivative [Member] | Livestock [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	201,850		201,850
Derivative [Member] | Metals [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	(64,824)		(64,824)
Derivative [Member] | Softs [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total Trading Results	$ 64,451		$ 64,451

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Investment in Funds	$ 0	$ 0
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 Instruments Priced at Fair Value Using Unobservable Inputs (Detail)	Sep. 30, 2016USD ($)
Assets
Total assets	$ 756,003
Liabilities
Total liabilities	456,658
Forward Contracts [Member]
Assets
Total assets	256,279
Liabilities
Total liabilities	160,321
Futures Contracts [Member]
Assets
Total assets	499,724
Liabilities
Total liabilities	296,337
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]
Assets
Total assets	591,245
Liabilities
Total liabilities	366,127
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Forward Contracts [Member]
Assets
Total assets	91,521
Liabilities
Total liabilities	69,790
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Futures Contracts [Member]
Assets
Total assets	499,724
Liabilities
Total liabilities	296,337
Significant Other Observable Inputs (Level 2) [Member]
Assets
Total assets	164,758
Liabilities
Total liabilities	90,531
Significant Other Observable Inputs (Level 2) [Member] | Forward Contracts [Member]
Assets
Total assets	164,758
Liabilities
Total liabilities	$ 90,531

Investment in the Funds - Addit

Investment in the Funds - Additional Information (Detail) - USD ($)		Jun. 30, 2016	Dec. 01, 2015	Aug. 01, 2013	Jan. 01, 2013	May 01, 2011	Jun. 01, 2006	Jul. 01, 2005	Mar. 01, 2005	Sep. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Investment in Funds, at fair value	[1]									$ 141,324,563	$ 210,548,183
CMF Aspect Master Fund L.P. [Member]
Investment [Line Items]
Number of units purchased by partnership									131,340.8450
Cash paid for units purchased by partnership									$ 122,786,448
Investment in Funds, at fair value									$ 8,554,397	$ 24,604,677	$ 37,891,702
Percentage owned by partnership										44.80%	55.30%
CMF Willowbridge Master Fund L.P. [Member]
Investment [Line Items]
Number of units purchased by partnership								95,795.8082
Cash paid for units purchased by partnership								$ 85,442,868
Investment in Funds, at fair value								$ 10,352,940		$ 37,223,772	$ 47,827,925
Maximum amount of partnership assets allocated to trading advisor										3 times
Percentage owned by partnership										10.00%	13.70%
CMF Graham Capital Master Fund L.P. [Member]
Investment [Line Items]
Number of units purchased by partnership							101,486.0491
Cash paid for units purchased by partnership							$ 103,008,482
Investment in Funds, at fair value										$ 28,411,087	$ 38,390,905
Percentage owned by partnership										70.30%	72.70%
CMF Altis Partners Master Fund L.P. [Member]
Investment [Line Items]
Number of units purchased by partnership						21,851.9469
Cash paid for units purchased by partnership						$ 70,000,000
Investment in Funds, at fair value											$ 26,474,103
Cash redemption on investment		$ 19,215,106
Percentage owned by partnership											59.70%
Morgan Stanley Smith Barney Boronia I, LLC [Member]
Investment [Line Items]
Cash paid for units purchased by partnership					$ 36,000,000
Investment in Funds, at fair value										$ 18,134,764	$ 36,257,683
Maximum amount of partnership assets allocated to trading advisor										1.5 times
Percentage owned by partnership										34.30%	48.80%
JEM Master Fund L.P. [Member]
Investment [Line Items]
Number of units purchased by partnership				11,968.0895
Cash paid for units purchased by partnership				$ 15,820,000
Investment in Funds, at fair value											$ 6,784,895
Maximum amount of partnership assets allocated to trading advisor										3 times
Cash redemption on investment										$ 9,054,379
Percentage owned by partnership											61.00%
Cambridge Master Fund L.P. [Member]
Investment [Line Items]
Cash paid for units purchased by partnership			$ 17,000,000
Investment in Funds, at fair value										$ 32,950,263	$ 16,920,970
Maximum amount of partnership assets allocated to trading advisor										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 decreased in the future. However, in no event will the amount of leverage be greater than 2 times the amount of assets allocated.
Percentage owned by partnership										45.50%	28.30%
[1]	Defined in Note 1.

Investment in the Funds - Asset

Investment in the Funds - Assets, Liabilities and Partners'/Members' Capital of Funds (Detail) - USD ($)	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Investment Holdings [Line Items]
Total Assets	$ 166,387,183		$ 210,973,446
Total Liabilities	5,728,792		4,104,192
Total Capital	160,658,391	$ 181,518,421	206,869,254	$ 216,235,038	$ 213,265,521	$ 253,104,986
CMF Willowbridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	371,349,533		351,368,221
Total Liabilities	762,132		2,668,272
Total Capital	370,587,401		348,699,949
CMF Aspect Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	54,968,036		68,986,804
Total Liabilities	34,479		521,227
Total Capital	54,933,557		68,465,577
CMF Graham Capital Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	40,444,499		52,819,144
Total Liabilities	16,895		17,985
Total Capital	40,427,604		52,801,159
CMF Altis Partners Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets			44,778,165
Total Liabilities			463,886
Total Capital			44,314,279
JEM Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	12,892,646		11,192,959
Total Liabilities	12,892,646		67,453
Total Capital			11,125,506
Morgan Stanley Smith Barney Boronia I, LLC [Member]
Investment Holdings [Line Items]
Total Assets	53,344,006		74,378,857
Total Liabilities	515,156		119,223
Total Capital	52,828,850		74,259,634
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	73,304,043		59,992,404
Total Liabilities	959,204		282,482
Total Capital	$ 72,344,839		$ 59,709,922

Investment in the Funds - Net I

Investment in the Funds - Net Investment Income (Loss), Trading Results and Net Income (Loss) of Funds (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Investment Holdings [Line Items]
Net Investment Income (Loss)	$ (2,353,591)	$ (3,354,043)	$ (8,207,585)	$ (13,074,252)
Total Trading Results	(6,460,818)	15,510,709	(5,347,957)	5,753,495
Net Income (Loss)	(8,814,409)	12,156,666	(13,555,542)	(7,320,757)
CMF Willowbridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(38,070)	(145,834)	(222,525)	(636,638)
Total Trading Results	(8,182,932)	28,756,543	(18,740,739)	15,134,368
Net Income (Loss)	(8,221,002)	28,610,709	(18,963,264)	14,497,730
CMF Aspect Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(17,102)	(55,404)	(71,218)	(182,077)
Total Trading Results	(780,337)	8,636,148	(252,863)	6,261,137
Net Income (Loss)	(797,439)	8,580,744	(324,081)	6,079,060
CMF Graham Capital Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(15,620)	(45,272)	(67,316)	(154,142)
Total Trading Results	(1,390,129)	283,163	(1,735,913)	3,536,460
Net Income (Loss)	(1,405,749)	237,891	(1,803,229)	3,382,318
CMF Altis Partners Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		(79,868)		(222,930)
Total Trading Results		2,601,937		675,898
Net Income (Loss)		2,522,069		452,968
JEM Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(111,911)	(205,158)	(380,665)	(724,097)
Total Trading Results	1,089,745	172,874	(17,095)	1,191,983
Net Income (Loss)	977,834	(32,284)	(397,760)	467,886
Morgan Stanley Smith Barney Boronia I, LLC [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(601,850)	(1,075,317)	(2,375,665)	(4,665,174)
Total Trading Results	(7,110,962)	8,917,469	4,386,573	(7,844,128)
Net Income (Loss)	(7,712,812)	$ 7,842,152	2,010,908	$ (12,509,302)
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(3,827)		3,746
Total Trading Results	(5,491,999)		(2,913,416)
Net Income (Loss)	$ (5,495,826)		$ (2,909,670)

Investment in the Funds - Partn

Investment in the Funds - Partnership's Investments in, and Partners' Pro Rata Share of Results of Operations of, Funds (Detail) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jul. 01, 2005	Mar. 01, 2005
Investment Holdings [Line Items]
% of Partner's Capital		87.97%		87.97%		101.78%
Fair Value	[1]	$ 141,324,563		$ 141,324,563		$ 210,548,183
Income (Loss)		(6,460,818)	$ 15,510,709	(5,347,957)	$ 5,753,495
Expenses, Clearing Fees		10,781		10,781
Expenses, Professional Fees		139,454	198,079	442,366	528,551
Management Fee		585,185	668,486	1,882,373	2,158,608
Incentive Fee				188,689	1,694,935
Net Income (Loss)		$ (8,814,409)	12,156,666	$ (13,555,542)	(7,320,757)
CMF Willowbridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital		23.17%		23.17%		23.12%
Fair Value		$ 37,223,772		$ 37,223,772		$ 47,827,925	$ 10,352,940
CMF Aspect Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital		15.32%		15.32%		18.31%
Fair Value		$ 24,604,677		$ 24,604,677		$ 37,891,702		$ 8,554,397
CMF Graham Capital Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital		17.68%		17.68%		18.56%
Fair Value		$ 28,411,087		$ 28,411,087		$ 38,390,905
CMF Altis Partners Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital						12.80%
Fair Value						$ 26,474,103
JEM Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital						3.28%
Fair Value						$ 6,784,895
Morgan Stanley Smith Barney Boronia I, LLC [Member]
Investment Holdings [Line Items]
% of Partner's Capital		11.29%		11.29%		17.53%
Fair Value		$ 18,134,764		$ 18,134,764		$ 36,257,683
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partner's Capital		20.51%		20.51%		8.18%
Fair Value		$ 32,950,263		$ 32,950,263		$ 16,920,970
Investment In Funds [Member]
Investment Holdings [Line Items]
Fair Value		141,324,563	210,548,183	141,324,563	210,548,183
Income (Loss)		(6,172,169)	15,522,987	(4,884,076)	5,771,950
Expenses, Clearing Fees		271,007	543,190	939,101	1,883,848
Expenses, Professional Fees		62,929	106,408	237,772	361,238
Management Fee		76,381	184,486	274,766	641,217
Incentive Fee		206		220,305	455,860
Net Income (Loss)		$ (6,582,692)	$ 14,688,903	$ (6,556,020)	$ 2,429,787
Investment In Funds [Member] | CMF Willowbridge Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		23.17%	23.12%	23.17%	23.12%
Fair Value		$ 37,223,772	$ 47,827,925	$ 37,223,772	$ 47,827,925
Income (Loss)		(788,893)	4,379,446	(1,898,638)	2,347,693
Expenses, Clearing Fees		27,118	22,968	89,721	101,103
Expenses, Professional Fees		2,087	3,463	6,873	13,179
Net Income (Loss)		$ (818,098)	$ 4,353,015	$ (1,995,232)	$ 2,233,411
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | CMF Aspect Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		15.32%	18.31%	15.32%	18.31%
Fair Value		$ 24,604,677	$ 37,891,702	$ 24,604,677	$ 37,891,702
Income (Loss)		(296,939)	4,773,360	94,544	3,416,617
Expenses, Clearing Fees		13,167	15,579	44,735	55,997
Expenses, Professional Fees		9,029	15,084	30,607	46,397
Net Income (Loss)		$ (319,135)	$ 4,742,697	$ 19,202	$ 3,314,223
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | CMF Graham Capital Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		17.68%	18.56%	17.68%	18.56%
Fair Value		$ 28,411,087	$ 38,390,905	$ 28,411,087	$ 38,390,905
Income (Loss)		(975,625)	207,824	(1,147,820)	2,467,199
Expenses, Clearing Fees		15,932	17,081	52,397	59,641
Expenses, Professional Fees		14,494	15,844	44,070	52,519
Net Income (Loss)		$ (1,006,051)	$ 174,899	$ (1,244,287)	$ 2,355,039
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | CMF Altis Partners Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		0.00%	12.80%	0.00%	12.80%
Fair Value			$ 26,474,103		$ 26,474,103
Income (Loss)			1,608,832	$ (3,222,037)	629,239
Expenses, Clearing Fees			35,894	77,805	93,877
Expenses, Professional Fees			14,286	30,569	50,121
Net Income (Loss)			$ 1,558,652	$ (3,330,411)	$ 485,241
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | JEM Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		0.00%	3.28%	0.00%	3.28%
Fair Value			$ 6,784,895		$ 6,784,895
Income (Loss)		$ 748,909	102,625	$ 57,484	931,189
Expenses, Clearing Fees		70,008	122,436	218,771	431,113
Expenses, Professional Fees		10,325	14,685	36,013	49,406
Net Income (Loss)		$ 668,576	$ (34,496)	$ (197,300)	$ 450,670
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | Morgan Stanley Smith Barney Boronia I, LLC [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		11.29%	17.53%	11.29%	17.53%
Fair Value		$ 18,134,764	$ 36,257,683	$ 18,134,764	$ 36,257,683
Income (Loss)		(2,397,584)	4,450,900	2,772,858	(4,019,987)
Expenses, Clearing Fees		130,240	329,232	426,663	1,142,117
Expenses, Professional Fees		17,891	43,046	64,350	149,616
Management Fee		76,381	184,486	274,766	641,217
Incentive Fee		206		220,305	455,860
Net Income (Loss)		$ (2,622,302)	$ 3,894,136	$ 1,786,774	$ (6,408,797)
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
Investment In Funds [Member] | Cambridge Master Fund L.P. [Member] | Commodity Portfolio [Member]
Investment Holdings [Line Items]
% of Partner's Capital		20.51%	8.18%	20.51%	8.18%
Fair Value		$ 32,950,263	$ 16,920,970	$ 32,950,263	$ 16,920,970
Income (Loss)		(2,462,037)		(1,540,467)
Expenses, Clearing Fees		14,542		29,009
Expenses, Professional Fees		9,103		25,290
Net Income (Loss)		$ (2,485,682)		$ (1,594,766)
Investment Objective				Commodity Portfolio
Redemptions Permitted				Monthly
[1]	Defined in Note 1.

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements Disclosure [Line Items]
Maturity period of instruments	1 year
Minimum [Member]
Fair Value Measurements Disclosure [Line Items]
Percentage of contracts traded over the counter	57.40%
Maximum [Member]
Fair Value Measurements Disclosure [Line Items]
Percentage of contracts traded over the counter	73.00%