Emerging Cta Portfolio 10-Q 13 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'CTA	'
Entity Registrant Name	'EMERGING CTA PORTFOLIO LP	'
Entity Central Index Key	'0001269190	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Limited Partnership Redeemable Units Outstanding	'	96,493.73

Statements_of_Financial_Condit

Statements of Financial Condition (USD $)	Jun. 30, 2014	Dec. 31, 2013
Assets:	'	'
Investment in Funds, at fair value	$98,426,826	$123,486,175
Redemptions receivable from Funds	'	14,986,312
Equity in trading account:	'	'
Cash	26,726,497	24,966,156
Cash margin	6,120,313	4,901,267
Net unrealized appreciation on open futures contracts	'	634,229
Options purchased, at fair value (cost $48,384 and $1,372,875 at June 30, 2014 and December 31, 2013, respectively)	806	1,278,375
Total trading equity	131,274,442	170,252,514
Interest receivable	576	333
Total assets	131,275,018	170,252,847
Liabilities:	'	'
Net unrealized depreciation on open futures contracts	19,181	'
Net unrealized depreciation on open forward contracts	42,721	'
Options premium received, at fair value (premium $1,135,834 and $517,125 at June 30, 2014 and December 31, 2013, respectively)	214,499	322,350
Accrued expenses:	'	'
Ongoing selling agent fees	272,904	495,616
Management fees	153,303	179,798
Administrative fees	54,544	70,741
Incentive fees	'	12,209
Clearing fees due to MS&Co.	4,916	5,003
Other	88,083	147,797
Redemptions payable	2,672,872	6,897,645
Total liabilities	3,523,023	8,131,159
Partners' Capital:	'	'
General Partner, 1,512.9756 Class A Unit equivalents outstanding at June 30, 2014 and December 31, 2013	1,889,739	2,043,122
Limited Partners, 100,768.6972 and 118,541.4712 Class A Redeemable Units outstanding at June 30, 2014 and December 31, 2013, respectively	125,862,256	160,078,566
Total partners' capital	127,751,995	162,121,688
Total liabilities and partners' capital	$131,275,018	$170,252,847
Net asset value per unit, Class A	1,249.02	1,350.40

Statements_of_Financial_Condit1

Statements of Financial Condition (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Options purchased, at fair value, cost	$48,384	$1,372,875
Options premium received, at fair value	$1,135,834	$517,125
General Partner Class A Capital, Units outstanding	1,512.98	1,512.98
Limited Partner Capital Account Redeemable Unit outstanding	100,768.70	118,541.47

Condensed_Schedule_of_Investme

Condensed Schedule of Investments (USD $)	Jun. 30, 2014		Dec. 31, 2013
Total futures contracts purchased	($28,942)		$302,913
Total futures contracts sold	9,761		331,316
Total unrealized appreciation on open forward contracts	110,499		'
Total unrealized depreciation on open forward contracts	-153,220		'
Total investment in Funds	98,426,826		123,486,175
Net fair value	98,151,231		125,076,429
Futures contracts purchased	-0.02%		0.19%
Futures contracts sold	0.00%		0.20%
Unrealized appreciation on forward contracts	0.09%		'
Unrealized depreciation on forward contracts	-0.12%		'
Investment in Funds	77.05%		76.17%
Net fair value	76.83%		77.15%
Total options purchased	806		1,278,375
Total options premium received	-214,499		-322,350
Options Purchased	0.00%	[1]	0.79%
Options premium received	-0.17%		-0.20%
Energy [Member]	'		'
Number of future contracts purchased	61		57
Total futures contracts purchased	-2,324		23,033
Number futures contracts sold	6		'
Total futures contracts sold	2,178		'
Futures contracts purchased	0.00%	[1]	0.01%
Futures contracts sold	0.00%	[1]	'
Energy [Member] | Call [Member]	'		'
Number of options purchased	'		500
Number of options premium received	763		500
Total options purchased	'		1,278,375
Total options premium received	-171,393		-322,350
Options Purchased	'		0.79%
Options premium received	-0.14%		-0.20%
Energy [Member] | Puts [Member]	'		'
Number of options purchased	192		'
Number of options premium received	1,723		'
Total options purchased	806		'
Total options premium received	-43,106		'
Options Purchased	0.00%	[1]	'
Options premium received	-0.03%		'
Grains [Member]	'		'
Number of future contracts purchased	21		68
Total futures contracts purchased	-60,772		-62,003
Number futures contracts sold	66		281
Total futures contracts sold	38,765		329,286
Futures contracts purchased	-0.05%		-0.04%
Futures contracts sold	0.03%		0.20%
Indices [Member]	'		'
Number of future contracts purchased	90		232
Total futures contracts purchased	-42,385		539,634
Number futures contracts sold	128		603
Total futures contracts sold	58,705		-344,629
Futures contracts purchased	-0.03%		0.33%
Futures contracts sold	0.05%		-0.21%
Interest Rates Non-U.S. [Member]	'		'
Number of future contracts purchased	17		170
Total futures contracts purchased	14,045		-68,531
Number futures contracts sold	54		243
Total futures contracts sold	-47,071		245,199
Futures contracts purchased	0.01%		-0.04%
Futures contracts sold	-0.04%		0.15%
Interest Rates U.S. [Member]	'		'
Number of future contracts purchased	54		298
Total futures contracts purchased	46,453		-201,662
Number futures contracts sold	'		17
Total futures contracts sold	'		6,242
Futures contracts purchased	0.04%		-0.12%
Futures contracts sold	'		0.00%	[1]
Livestock [Member]	'		'
Number of future contracts purchased	20		15
Total futures contracts purchased	14,266		-3,570
Number futures contracts sold	'		9
Total futures contracts sold	'		-100
Futures contracts purchased	0.01%		0.00%	[1]
Futures contracts sold	'		0.00%	[1]
Metals [Member]	'		'
Number of future contracts purchased	'		10
Total futures contracts purchased	'		21,662
Number futures contracts sold	16		17
Total futures contracts sold	-48,307		30,720
Futures contracts purchased	'		0.01%
Futures contracts sold	-0.04%		0.02%
Softs [Member]	'		'
Number of future contracts purchased	'		46
Total futures contracts purchased	'		54,350
Number futures contracts sold	51		163
Total futures contracts sold	5,491		64,598
Futures contracts purchased	'		0.04%
Futures contracts sold	0.00%		0.04%
Futures Contracts [Member]	'		'
Net unrealized appreciation on open futures/forward contracts	-19,181		634,229
Net unrealized appreciation on open futures contracts	-0.02%		0.39%
Currencies [Member]	'		'
Number of future contracts purchased	16		'
Total futures contracts purchased	1,775		'
Total unrealized appreciation on open forward contracts	110,499		'
Total unrealized depreciation on open forward contracts	-153,220		'
Futures contracts purchased	0.00%	[1]	'
Unrealized appreciation on forward contracts	0.09%		'
Unrealized depreciation on forward contracts	-0.12%		'
Forward Contracts [Member]	'		'
Net unrealized appreciation on open futures/forward contracts	-42,721		'
Net unrealized depreciation on open futures/forward contracts	-0.03%		'
Blackwater Master Fund L.P. [Member]	'		'
Total investment in Funds	10,702,354		24,550,063
Investment in Funds	8.38%		15.14%
Secor Master Fund L.P.[Member]	'		'
Total investment in Funds	18,765,393		15,383,266
Investment in Funds	14.69%		9.49%
Cambridge Master Fund L.P. [Member]	'		'
Total investment in Funds	23,244,008		26,222,525
Investment in Funds	18.19%		16.17%
CMF Willowbridge Master Fund L.P. [Member]	'		'
Total investment in Funds	11,918,145		14,357,559
Investment in Funds	9.33%		8.86%
300 North Capital Master Fund L.P. [Member]	'		'
Total investment in Funds	20,474,262		24,373,736
Investment in Funds	16.03%		15.04%
Principle Master Fund L.P. [Member]	'		'
Total investment in Funds	13,322,664		18,599,026
Investment in Funds	10.43%		11.47%
Unrealized Appreciation On Open Forward Contracts [Member] | Currencies [Member]	'		'
Notional	14,837,352		'
Unrealized Depreciation On Open Forward Contracts [Member] | Currencies [Member]	'		'
Notional	$26,629,323		'
[1]	Due to rounding.

Statements_of_Income_and_Expen

Statements of Income and Expenses and Changes in Partners' Capital (USD $)	3 Months Ended				6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Investment Income:	'		'		'		'
Interest income	$1,150		$1,193		$3,167		$5,249
Interest income from investment in Funds	4,364		9,973		14,381		34,237
Total investment income	5,514		11,166		17,548		39,486
Expenses:	'		'		'		'
Clearing fees	258,099		436,060		530,790		867,658
Ongoing selling agent fees	843,121		1,661,245		2,173,197		3,315,489
Management fees	469,374		689,744		979,149		1,365,232
Administrative fees	168,531		236,432		358,397		471,887
Incentive fees	'		773,152		-12,209		1,145,571
Other	246,891		284,107		417,717		460,433
Total expenses	1,986,016		4,080,740		4,447,041		7,626,270
Net investment income (loss)	-1,980,502		-4,069,574		-4,429,493		-7,586,784
Net gains (losses) on trading of commodity interests and investment in Funds:	'		'		'		'
Net realized gains (losses) on closed contracts	121,228		558,128		-2,402,842		-522,813
Net realized gains (losses) on investment in Funds	5,936,062		7,548,615		1,489,141		21,372,357
Change in net unrealized gains (losses) on open contracts	-291,051		108,822		77,351		-36,335
Change in net unrealized gains (losses) on investment in Funds	-1,744,148		1,435,481		-7,199,764		-6,305,992
Total trading results	4,022,091		9,651,046		-8,036,114		14,507,217
Net income (loss)	2,041,589		5,581,472		-12,465,607		6,920,433
Subscriptions - Limited Partners	2,281,716		4,348,476		5,821,723		8,593,636
Redemptions - Limited Partners	-13,869,192		-7,112,086		-27,725,809		-18,762,147
Redemptions - General Partner	'		-200,699		'		-200,699
Net increase (decrease) in Partners' Capital	-9,545,887		2,617,163		-34,369,693		-3,448,777
Partners' Capital, beginning of period	137,297,882		182,086,006		162,121,688		188,151,946
Partners' Capital, end of period	$127,751,995		$184,703,169		$127,751,995		$184,703,169
Net asset value per unit, Class A (102,281.6728 and 130,888.9408 units outstanding at June 30, 2014 and 2013, respectively)	1,249.02		1,411.14		1,249.02		1,411.14
Net income (loss) per unit	$19.10	[1]	$41.55	[1]	($101.38)	[1]	$51.33	[1]
Weighted average Class A units outstanding	108,188.41		133,411.66		114,207.96		135,472.09
[1]	Based on change in net asset value per unit.

Statements_of_Income_and_Expen1

Statements of Income and Expenses and Changes in Partners' Capital (Parenthetical)	Jun. 30, 2014	Jun. 30, 2013
Partners' capital units outstanding	102,281.67	130,888.94

General

General	6 Months Ended
	Jun. 30, 2014
General	'
	1. General:
	Emerging CTA Portfolio L.P. (the “Partnership”) is a limited partnership that was organized on July 7, 2003 under the partnership laws of the State of New York. The objective of the Partnership is to achieve capital appreciation through the allocation of assets to early-stage commodity trading advisors which engage, directly and indirectly, in speculative trading of a diversified portfolio of commodity interests, including futures, options on futures, forwards, options on forwards, spot and swap contracts, cash commodities and any other rights or interest pertaining thereto. The Partnership may also enter into swap and other derivative transactions with the approval of the General Partner (defined below). The sectors traded include currencies, livestock, lumber, energy, grains, metals, indices, softs and U.S. and non-U.S. interest rates. The Partnership directly and through its investment in the Funds (as defined in Note 5, “Investment in Funds”) may trade futures, forward and option contracts of any kind. The Partnership may also engage in swap transactions and other derivative transactions directly and through its investments in the Funds with the approval of the General Partner. The commodity interests that are traded by the Partnership and the Funds are volatile and involve a high degree of market risk.
	Between December 1, 2003 (commencement of the offering period) and August 5, 2004, 20,872 redeemable units of limited partnership interest (“Redeemable Units”) were sold at $1,000 per Redeemable Unit. The proceeds of the initial offering were held in an escrow account until August 6, 2004, at which time they were remitted to the Partnership for trading. The Partnership privately and continuously offers Redeemable Units in the Partnership to qualified investors. There is no maximum number of Redeemable Units that may be sold by the Partnership.
	Ceres Managed Futures LLC, a Delaware limited liability company, acts as the general partner (the “General Partner”) and commodity pool operator of the Partnership. The General Partner is wholly owned by Morgan Stanley Smith Barney Holdings LLC (“MSSB Holdings”). MSSB Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial services and other businesses. Prior to June 28, 2013, Morgan Stanley indirectly owned a majority equity interest in MSSB Holdings and Citigroup Inc. indirectly owned a minority 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.
	As of September 1, 2011, the Partnership began offering three classes of limited partnership interests: Class A units, Class D units and Class Z units; each will be referred to as a “Class” and collectively referred to as the “Classes.” All Redeemable Units issued prior to September 1, 2011 were deemed “Class A Units.” The rights, liabilities, risks, and fees associated with investment in the Class A Units were not changed. Class A Units and Class D Units are available to taxable U.S. individuals and institutions, as well as U.S. tax exempt individuals and institutions. Class Z Units will be offered to certain employees of Morgan Stanley Wealth Management and its affiliates (and their family members). The Class of units that a limited partner of the Partnership (each a “Limited Partner”) receives upon subscription will generally depend upon the amount invested in the Partnership or the status of the Limited Partner, although the General Partner may determine to offer units to investors at its discretion. As of June 30, 2014, there were no Redeemable Units outstanding in Class D or Class Z.
	As of June 30, 2014, all trading decisions were made for the Partnership by its trading advisors (the “Advisors”) either directly, through individually managed accounts, or indirectly, through investments in other collective investment vehicles. Blackwater Capital Management, LLC, Willowbridge Associates Inc., SECOR Capital Advisors, LP, 300 North Capital LLC, Cambridge Strategy (Asset Management) Limited and Principle Capital Management LLC have been selected by the General Partner as the major commodity trading advisors. In addition, the General Partner has allocated the Partnership’s assets to additional non-major trading advisors (i.e. commodity trading advisors intended to be allocated less than 10% of the Partnership’s assets). Information about advisors allocated less than 10% of the Partnership’s assets may not be disclosed. The General Partner may allocate less than 10% of the Partnership’s assets to a new trading advisor or another trading program of a current Advisor. The Advisors are not affiliated with one another, are not affiliated with the General Partner, CGM or MS&Co. and are not responsible for the organization or operation of the Partnership.
	Effective July 31, 2014, the Partnership terminated its management agreement with Principle Capital Management LLC and fully redeemed its investment in Principle Master Fund L.P.
	During the six months ended June 30, 2014, the Partnerhip’s/Funds’ commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. During the prior periods included in this report, Citigroup Global Markets Inc. (“CGM”) also served as a commodity broker.
	During the second quarter of 2013, Cambridge Master Fund, L.P. (“Cambridge Master”) entered into a foreign exchange brokerage account agreement with MS&Co. Cambridge Master commenced foreign exchange trading through an account at MS&Co. on or about May 1, 2013. During the third quarter of 2013, CMF Willowbridge Master Fund L.P. (“Willowbridge Master”), Principle Master Fund L.P. (“Principle Master”) and Cambridge Master entered into a futures brokerage account agreement with MS&Co. Willowbridge Master, Principle Master and Cambridge Master commenced futures trading through accounts at MS&Co. on or about July 29, 2013, September 27, 2013 and September 1, 2013, respectively. SECOR Master Fund L.P continues to be a party to a futures brokerage account agreement with MS&Co. During the fourth quarter of 2013, 300 North Capital Master Fund L.P. and Blackwater Master Fund L.P. entered into a futures account agreement with MS&Co. and commenced trading through accounts at MS&Co. on or about October 2, 2013 and October 3, 2013, respectively. Effective August 21, 2013, the Partnership entered into a futures brokerage account agreement with MS&Co. and began transferring the brokerage account of the Partnership from CGM to MS&Co. The Partnership, directly and through its investment in the Funds, pays MS&Co. trading fees for the clearing and, where applicable, execution of transactions.
	Effective October 1, 2013, the Partnership ceased paying a brokerage fee to CGM and CGM ceased acting as a selling agent for the Partnership. Also effective October 1, 2013, the Partnership entered into a selling agreement with Morgan Stanley Smith Barney LLC (d/b/a Morgan Stanley Wealth Management). Pursuant to the selling agreement, Morgan Stanley Wealth Management received a selling agent fee equal to (i) 3.50% per year of adjusted month-end net assets for Class A units, (ii) 1.25% per year of adjusted month-end net assets for Class D units and (iii) 0.50% per year of adjusted month-end net assets for Class Z units. The selling agent fee received by Morgan Stanley Wealth Management will be shared with the properly registered/licensed financial advisers of Morgan Stanley Wealth Management who sell redeemable units in the Partnership.
	Effective April 1, 2014, the monthly ongoing selling agent fee was reduced from an annual rate of 3.5% to an annual rate of 2.5% for Class A units.
	Certain prior period amounts have been reclassified to conform to current period presentation. Amounts reported separately on the Statements of Income and Expenses and Changes in Partners’ Capital as ongoing selling agent fees and clearing fees were previously combined and presented as brokerage fees, including clearing fees.
	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 statement of the Partnership’s financial condition at June 30, 2014 and December 31, 2013, and the results of its operations and changes in partners’ capital for the three and six months ended June 30, 2014 and 2013. These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. You should read these financial statements 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, 2013.
	The General Partner and each Limited Partner share in the profits and losses of the Partnership in proportion to the amount of Partnership interest owned by each, except that no Limited Partner is liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions and losses, if any.
	The preparation of financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
	Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year.

Financial_Highlights

Financial Highlights	6 Months Ended
	Jun. 30, 2014
Financial Highlights	'
	2. Financial Highlights:
	Changes in the net asset value per unit for Class A for the three and six months ended June 30, 2014 and 2013 were as follows:
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2014			2013			2014			2013
	Net realized and unrealized gains (losses)*		$	27.24		$	56.35		$	(86.20	)	$	76.55
	Interest Income			0.05			0.08			0.15			0.29
	Expenses**			(8.19	)		(14.88	)		(15.33	)		(25.51	)
	Increase (decrease) for the period			19.1			41.55			(101.38	)		51.33
	Net asset value per unit, beginning of period			1,229.92			1,369.59			1,350.40			1,359.81
	Net asset value per unit, end of period		$	1,249.02		$	1,411.14		$	1,249.02		$	1,411.14
	*	Includes ongoing selling agent and clearing fees. Net realized and unrealized gains (losses) excluding ongoing selling agent fees for the three months ended June 30, 2014 and 2013, and for the six months ended June 30, 2014 and 2013 were $37.44, $72.07, $(62.67) and $107.43, respectively.
	**	Excludes ongoing selling agent and clearing fees . Total expenses including ongoing selling agent fees for the three months ended June 30, 2014 and 2013 and for the six months ended June 30, 2014 and 2013 were $(18.39), $(30.60), $(38.86) and $(56.39), respectively.
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2014			2013			2014			2013
	Ratios to average net assets:***
	Net investment income (loss)			(6.0	)%		(7.6	)%		(6.3	)%		(7.7	)%
	Incentive fees			0	%		0.4	%		0	%		0.6	%
	Net investment income (loss) before incentive fees****			(6.0	)%		(7.2	)%		(6.3	)%		(7.1	)%
	Operating expense			6	%		7.2	%		6.3	%		7.1	%
	Incentive fees			0	%		0.4	%		0	%		0.6	%
	Total expenses			6	%		7.6	%		6.3	%		7.7	%
	Total return:
	Total return before incentive fees			1.6	%		3.4	%		(7.5	)%		4.4	%
	Incentive fees			0	%		(0.4	)%		0	%		(0.6	)%
	Total return after incentive fees			1.6	%		3	%		(7.5	)%		3.8	%
	***	Annualized (other than incentive fees).
	****	Interest inc ome less total expenses.
	The above ratios 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 net assets.

Trading_Activities

Trading Activities	6 Months Ended
	Jun. 30, 2014
Trading Activities	'
	3. 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 customer agreement among the Partnership, each of the Funds and MS&Co. gives, and the customer agreements between the Partnership and CGM and each of the Funds and CGM gave, the Partnership and the Funds the legal right to net unrealized gains and losses on open futures and forward contracts on the Statements of Financial Condition. The Partnership and the Funds net, for financial reporting purposes, the unrealized gains and losses on open futures and on open forward contracts on the Statements of Financial Condition, as the criteria under Accounting Standards Codification (“ASC”) 210-20, “Balance Sheet,” have been met.
	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 months ended June 30, 2014 and 2013 were 660 and 1,568, respectively. The monthly average number of futures contracts traded directly by the Partnership during the six months ended June 30, 2014 and 2013 were 745 and 1,582, respectively. There were no metals forward contracts traded directly by the Partnership during the three months ended June 30, 2014 and 2013. The monthly average number of metals forward contracts traded directly by the Partnership during the six months ended June 30, 2014 and 2013, were 0 and 18, respectively. The monthly average number of option contracts held directly by the Partnership during the three months ended June 30, 2014 and 2013 were 2,392 and 0, respectively. The monthly average number of option contracts held directly by the Partnership during the six months ended June 30, 2014 and 2013 were 1,768 and 25, respectively. The monthly average notional value of currency forward contracts held directly by the Partnership during the three months ended June 30, 2014 and 2013 were $91,862,210 and $0, respectively. The monthly average notional values of currency forward contracts held directly by the Partnership during the six months ended June 30, 2014 and 2013 were $91,892,322 and $903, respectively.
	Brokerage fees previously paid to CGM were calculated as a percentage of the Partnership’s adjusted net asset value on the last day of each month and were affected by trading performance, subscriptions and redemptions.
	Trading and transaction fees are based on the number of trades executed by the Advisors and the Partnership’s ownership of the Funds.
	On January 1, 2013, the Partnership adopted Accounting Standards Update (“ASU”) 2011-11, “Disclosure about Offsetting Assets and Liabilities” and ASU 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 created a new disclosure requirement about the nature of an entity’s rights to setoff and the related arrangements associated with its financial instruments and derivative instruments, while ASU 2013-01 clarified the types of instruments and transactions that are subject to the offsetting disclosure requirements established by ASU 2011-11. Entities are required to disclose both gross information and net information about both instruments and transactions eligible for offset in the statement of financial condition and instruments and transactions subject to an agreement similar to a master netting arrangement. The objective of these disclosures is to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards.
	The following tables summarize the valuation of the Partnership’s investments at June 30, 2014 and December 31, 2013, respectively.
			Gross			Gross Amounts Offset in the			Amounts			Gross Amounts not Offset in					Net
			Amounts			Statement of Financial			Presented  in the			the Statement of Financial					Amount
			Recognized			Condition			Statement of			Condition
	June 30, 2014								Financial Condition			Financial			Cash
												Instruments			Collateral
															Received
	Assets
	Futures		$	304,764		$	(304,764	)	$	—		$	—		$	—	$	—
	Forwards			110,499			(110,499	)		—			—			—		—
	Options purchased			806			—			806			(806	)		—		—
	Total Assets			416,069			(415,263	)		806			(806	)		—		—
	Liabilities
	Futures		$	(323,945	)	$	304,764		$	(19,181	)	$	—		$	—	$	(19,181	)
	Forwards			(153,220	)		110,499			(42,721	)		—			—		(42,721	)
	Options premium received			(214,499	)		—			(214,499	)		806			—		(213,693	)
	Total Liabilities			(691,664	)		415,263			(276,401	)		806			—		275,595
	Net fair value																$	(275,595	)
			Gross Amounts			Gross Amounts Offset in the			Amounts			Gross Amounts
			Recognized			Statements of Financial			Presented in the			not Offset in the
						Condition			Statements of			Statements of
									Financial  Condition			Financial Condition
	December 31, 2013											Financial			Cash		Net Amount
												Instruments			Collateral
															Received
	Assets
	Futures		$	1,432,133		$	(797,904	)	$	634,229		$	—		$	—	$	634,229
	Options purchased			1,278,375			—			1,278,375			(322,350	)		—		956,025
	Total Assets			2,710,508			(797,904	)		1,912,604			(322,350	)		—		1,590,254
	Liabilities
	Futures		$	(797,904	)	$	797,904		$	—		$	—		$	—	$	—
	Options premium received			(322,350	)		—			(322,350	)		322,350			—		—
	Total Liabilities			(1,120,254	)		797,904			(322,350	)		322,350			—		—
	Net fair value																$	1,590,254
	The following tables indicate the gross fair va lues of derivative instruments of futures, forwards and options contracts as separate assets and liabilities as of June 30, 2014 and December 31, 2013.
	Assets		June 30, 2014
	Futures Contracts
	Currencies		$	1,775
	Energy			22,901
	Grains			40,049
	Indices			139,274
	Interest Rates Non-U.S.			15,242
	Interest Rates U.S.			46,672
	Livestock			17,666
	Metals			1,000
	Softs			20,185
	Total unrealized appreciation on open futures contracts		$	304,764
	Liabilities
	Futures Contracts
	Energy		$	(23,047	)
	Grains			(62,056	)
	Indices			(122,954	)
	Interest Rates Non-U.S.			(48,268	)
	Interest Rates U.S.			(219	)
	Livestock			(3,400	)
	Metals			(49,307	)
Softs			(14,694	)
Total unrealized depreciation on open futures contracts		$	(323,945	)
Net unrealized depreciation on open futures contracts		$	(19,181	)*
Assets
Forward Contracts
Currencies		$	110,499
Total unrealized appreciation on open forward contracts		$	110,499
Liabilities
Forward Contracts
Currencies		$	(153,220	)
Total unrealized depreciation on open forward contracts		$	(153,220	)
Net unrealized depreciation on open forward contracts		$	(42,721	)**
Assets
Options purchased
Energy		$	806
Total options purchased		$	806	***
Liabilities
Options premium received
Energy		$	(214,499	)
Total options premium received		$	(214,499	)****
*	This amount is included in “Net unrealized depreciation on open futures contracts” on the Statements of Financial Condition.
**	This amount is included in “Net unrealized depreciation on open forward contracts” on the Statements of Financial Condition.
***	This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.
****	This amount is included in “Options premium received, at fair value” on the Statements of Financial Condition.
		December 31,
		2013
Assets
Futures Contracts
Energy		$	47,952
Grains			330,270
Indices			581,789
Interest Rates Non-U.S.			281,256
Interest Rates U.S.			6,242
Livestock			380
Metals			54,812
Softs			129,432
Total unrealized appreciation on open futures contracts		$	1,432,133
Liabilities
Futures Contracts
Energy		$	(24,919	)
Grains			(62,987	)
Indices			(386,784	)
Interest Rates Non-U.S.			(104,588	)
Interest Rates U.S.			(201,662	)
Livestock			(4,050	)
Metals			(2,430	)
Softs			(10,484	)
Total unrealized depreciation on open futures contracts		$	(797,904	)
Net unrealized appreciation on open futures contracts		$	634,229	*
Assets
Options purchased
Energy		$	1,278,375
Total options purchased		$	1,278,375	**
Liabilities
Options premium received
Energy		$	(322,350	)
Total options premium received		$	(322,350	)***
*	This amount is included in “Net unrealized appreciation on open futures contracts” on the Statements of Financial Condition.
**	This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.
***	This amount is included in “Options premium received, at fair value” on the Statements of Financial Condition.
The following tables indicate the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three and six months ended June 30, 2014 and 2013.
		Three Months Ended						Six Months Ended
		June 30,						June 30,
Sector		2014			2013			2014			2013
Currencies		$	(191,252	)	$	180,715		$	(172,306	)	$	491,446
Energy			525,708			—			(1,037,631	)		114,173
Grains			17,389			—			68,612			(1,670	)
Indices			(223,847	)		394,274			(630,258	)		(77,114	)
Interest Rates U.S.			189,066			158,978			265,474			(85,074	)
Interest Rates Non-U.S.			(380,637	)		(67,017	)		(775,805	)		(669,237	)
Livestock			(120,940	)		—			36,890			(4,570	)
Metals			974			—			44,513			(350,475	)
Softs			13,716			—			(124,980	)		23,373
Total		$	(169,823	) ****	$	666,950	****	$	(2,325,491	)****	$	(559,148	)****
****	This amount is included in “Total trading results” on the Statements of Income and Expenses and Changes in Partners’ Capital.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Measurements	'
	4. Fair Value Measurements:
	Partnership’s and the Funds’ Investments. All commodity interests held by the Partnership and the Funds (including derivative financial instruments and derivative commodity instruments) are held for trading purposes. The commodity interests are recorded on the trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on open contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Partnership’s and the Funds’ Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The General Partner has concluded that based on available information in the marketplace, the Partnership’s and the Funds’ Level 1 assets and liabilities are actively traded.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that based on available information in the marketplace, there has not been a significant decrease in the volume and level of activity in the Partnership’s and the Funds’ Level 2 assets and liabilities.
	The Partnership and the Funds will separately present purchases, sales, issuances and settlements in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation as well as the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	On October 1, 2012, the Financial Accounting Standards Board (the “FASB”) issued ASU 2012-04 “Technical Corrections and Improvements,” which makes minor technical corrections and clarifications to ASC 820, “Fair Value Measurements and Disclosures.” When the FASB issued Statement 157 (codified in ASC 820), it conformed the use of the term “fair value” in certain pre-codification standards but not others. ASU 2012-04 conforms the term’s use throughout the ASC “to fully reflect the fair value measurement and disclosure requirements” of ASC 820. ASU 2012-04 also amends the requirements that must be met for an investment company to qualify for the exemption from presenting a statement of cash flows. Specifically, it eliminates the requirements that substantially all of an entity’s investments be carried at “market value” and that the investments be highly liquid. Instead, it requires substantially all of the entity’s investments to be carried at “fair value” and classified as Level 1 or Level 2 measurements under ASC 820.
	The Partnership and the Funds consider prices for exchange-traded commodity futures, forwards, swaps and options contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of non-exchange-traded forwards, swaps and certain options contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). Investments in funds (other commodity pools) where there are no other rights or obligations inherent within the ownership interest held by the Partnership are priced based on the end of the day net asset value (Level 2). The value of the Partnership’s investments in the Funds reflects its proportional interest in the Funds. As of and for the periods ended June 30, 2014 and December 31, 2013, 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). During the six months ended June 30, 2014 and the twelve months ended December 31, 2013, there were no transfers of assets or liabilities between Level 1 and Level 2.
		June 30, 2014		Quoted Prices in			Significant Other		Significant
				Active  Markets for			Observable  Inputs		Unobservable  Inputs
				Identical Assets			(Level 2)		(Level 3)
				and Liabilities
				(Level 1)
	Assets
	Investment in Funds	$	98,426,826	$	—		$	98,426,826	$	—
	Futures		304,764		304,764			—		—
	Forwards		110,499		—			110,499		—
	Options purchased		806		806			—		—
	Total assets	$	98,842,895	$	305,570		$	98,537,325	$	—
	Liabilities
	Futures	$	323,945	$	323,945		$	—	$	—
	Forwards		153,220		—			153,220		—
	Options premium received		214,499		214,499			—		—
	Total liabilities		691,664		538,444			153,220		—
	Net fair value	$	98,151,231	$	(232,874	)	$	98,384,105	$	—
		December 31, 2013		Quoted Prices in			Significant Other		Significant
				Active Markets for			Observable Inputs		Unobservable Inputs
				Identical Assets			(Level 2)		(Level 3)
				and  Liabilities
				(Level 1)
	Assets
	Investment in Funds	$	123,486,175	$	—		$	123,486,175	$	—
	Futures		1,432,133		1,432,133			—		—
	Options purchased		1,278,375		1,278,375			—		—
	Total assets		126,196,683		2,710,508			123,486,175		—
	Liabilities
	Futures	$	797,904	$	797,904		$	—	$	—
	Options premium received		322,350		322,350			—		—
	Total liabilities		1,120,254		1,120,254			—		—
	Net fair value	$	125,076,429	$	1,590,254		$	123,486,175	$	—

Investment_in_Funds

Investment in Funds	6 Months Ended
	Jun. 30, 2014
Investment in Funds	'
	5. Investment in Funds:
	On March 1, 2010, the assets allocated to Waypoint Capital Management LLC (“Waypoint”) for trading were invested in the Waypoint Master Fund L.P. (“Waypoint Master”), a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 26,581.6800 units of Waypoint Master with cash equal to $26,581,680. Effective November 30, 2013, the Partnership fully redeemed its investment in Waypoint Master for cash equal to $4,378,673.
	On November 1, 2010, the assets allocated to PGR Capital LLP (“PGR”) for trading were invested in PGR Master Fund L.P. (“PGR Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in PGR Master with cash equal to $14,913,029. Effective December 31, 2013, the Partnership fully redeemed its investment in PGR Master for cash equal to $14,986,312.
	On November 1, 2010, the assets allocated to Blackwater Capital Management LLC (“Blackwater”) for trading were invested in Blackwater Master Fund L.P. (“Blackwater Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in Blackwater Master with cash equal to $15,674,694. Blackwater Master permits accounts managed by Blackwater using the Blackwater Global Program, a proprietary, systematic trading program, to invest together in one trading vehicle. The General Partner is also the general partner of Blackwater Master. Individual and pooled accounts currently managed by Blackwater, including the Partnership, are permitted to be limited partners of Blackwater Master. The General Partner and Blackwater believe that trading through this structure should promote efficiency and economy in the trading process.
	On January 1, 2011, the assets allocated to J E Moody & Company LLC (“J E Moody”) for trading were invested in JEM Master Fund L.P. (“JEM Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership purchased 19,624.4798 units of JEM Master with cash equal to $19,624,480. Effective October 31, 2013, the Partnership fully redeemed its investment in JEM Master for cash equal to $4,400,957.
	On January 1, 2011, the assets allocated to Cirrus Capital Management LLC (“Cirrus”) for trading were invested in CMF Cirrus Master Fund L.P. (“Cirrus Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership purchased 22,270.9106 units of Cirrus Master with cash equal to $22,270,911. Effective August 31, 2013, the Partnership fully redeemed its investment in Cirrus Master for cash equal to $9,645,872.
	On September 1, 2012, the assets allocated to Cambridge Strategy (Asset Management) Limited (“Cambridge”) for trading were invested in Cambridge Master Fund L.P. (“Cambridge Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in Cambridge Master with cash equal to $3,000,000. 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 2 times the amount of assets allocated.
	Effective January 1, 2013, the assets traded directly by Willowbridge Associates Inc. (“Willowbridge”) using its wPraxis Futures Trading Approach, were invested in CMF Willowbridge Master Fund L.P. (“Willowbridge Master”), a limited partnership organized under the partnership laws of the State of New York. The Partnership purchased 14,103.3175 units of Willowbridge Master with cash equal to $29,484,306. Willowbridge Master permits accounts managed by Willowbridge using the 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 agreed that Willowbridge will trade the Partnership’s assets allocated to Willowbridge at a level that is up to 3 times the amount of assets allocated. Effective February 28, 2013, Willowbridge ceased trading the Partnership’s assets using its MStrategy Trading Approach.
	On March 1, 2013, the assets allocated to Principle Capital Management LLC (“Principle”) for trading were invested in Principle Master Fund L.P. (“Principle Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in Principle Master with cash equal to $6,503,661. Principle Master permits accounts managed by Principle using the Principle Commodity Futures trading program, a proprietary, discretionary trading program, to invest together in one trading vehicle. The General Partner is also the general partner of Principle Master. Individual and pooled accounts currently managed by Principle, are permitted to be limited partners of Principle Master. The General Partner and Principle believe that trading through this structure promoted efficiency and economy in the trading process. The General Partner and Principle agreed that Principle would trade the Partnership’s assets allocated to Principle at a level that was up to 1.5 times the assets allocated. Effective July 31, 2014, the Partnership fully redeemed its investment in Principle Master for cash equal to $12,165,827.
	On March 1, 2013, the assets allocated to 300 North Capital LLC (“300 North Capital”) for trading were invested in 300 North Capital Master Fund L.P. (“300 North Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in 300 North Master with cash equal to $10,000,000. 300 North Master permits accounts managed by 300 North Capital using the Global Macro Program, a proprietary, discretionary trading program, to invest together in one trading vehicle. The General Partner is also the general partner of 300 North Master. Individual and pooled accounts currently managed by 300 North Capital, including the Partnership, are permitted to be limited partners of 300 North Master. The General Partner and 300 North Capital believe that trading through this structure should promote efficiency and economy in the trading process. The General Partner and 300 North Capital agreed that 300 North Capital will trade the Partnership’s assets allocated to 300 North Capital at a level that is up to 2 times the amount of assets allocated.
	On August 1, 2013, the assets allocated to SECOR Capital Advisors, LP (“SECOR”) for trading were invested in the SECOR Master Fund L.P. (“SECOR Master”), a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in SECOR Master with cash equal to $10,000,000. SECOR Master permits accounts managed by SECOR using a variation of the program traded by SECOR Alpha Master Fund L.P., a proprietary, systematic trading program, to invest together in one trading vehicle. The General Partner is also the general partner of SECOR Master. Individual and pooled accounts currently managed by SECOR, including the Partnership, are permitted to be limited partners of SECOR Master. The General Partner and SECOR believe that trading through this structure should promote efficiency and economy in the trading process. The General Partner and SECOR agreed that SECOR will trade the Partnership’s assets allocated to SECOR at a level that is up to 1.5 times the amount of assets allocated.
	The General Partner is not aware of any material changes to any of the trading programs discussed above during the fiscal quarter ended June 30, 2014.
	Blackwater Master’s, Cambridge Master’s, Willowbridge Master’s, 300 North Master’s, Principle Master’s and SECOR Master’s (collectively, the “Funds”) and the Partnership’s trading of futures, forwards and options contracts, as applicable, on commodities is done primarily on United States of America commodity exchanges and foreign commodity exchanges. Reference to “Funds” included in this report may include, as relevant, Waypoint Master, PGR Master, JEM Master and Cirrus Master. During the six months ended June 30, 2014, the Funds engaged in such trading through commodity brokerage accounts maintained with MS&Co. During prior periods included in this report, the Funds also engaged in such trading through commodity brokerage accounts maintained with CGM.
	A limited partner of the Funds may withdraw all or part of their capital contribution and undistributed profits, if any, from the Funds as of the end of any day (the “Redemption Date”) after a request for redemption has been made to the General Partner at least three days in advance of the Redemption Date. Such withdrawals are classified as a liability when the limited partner elects to redeem and informs the Funds.
	Management, administrative and incentive fees are charged at the Partnership level. All trading, exchange, clearing, user, give-up, floor brokerage and National Futures Association fees (collectively the “clearing fees”) are borne by the Funds and allocated to their limited partners, including the Partnership. All other fees are charged at the Partnership level.
	At June 30, 2014, the Partnership owned approximately 28.5% of Blackwater Master, 67.9% of Cambridge Master, 15.7% of Willowbridge Master, 100% of 300 North Master, 100% of Principle Master and 100% of SECOR Master. At December 31, 2013, the Partnership owned approximately 38.8% of Blackwater Master, 58.2% of PGR Master (prior to its redemptions on December 31, 2013), 15.2% of Willowbridge Master, 100% of 300 North Master, 100% of Principle Master, 100% of SECOR Master and 69.9% 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 and the redemption rights are not affected.
	Summarized information reflecting the total assets, liabilities and capital of the Funds is shown in the following tables.
		30-Jun-14
		Total Assets				Total Liabilities				Total Capital
	Blackwater Master		38,061,343				444,806				37,616,537
	SECOR Master		18,788,217				23,124				18,765,093
	Cambridge Master		34,803,946				545,762				34,258,184
	Willowbridge Master		77,867,555				1,765,021				76,102,534
	300 North Master		20,681,966				208,065				20,473,901
	Principle Master		13,972,480				650,045				13,322,435
		31-Dec-13
		Total Assets				Total Liabilities				Total Capital
	Blackwater Master	$	63,936,601			$	610,828			$	63,325,773
	PGR Master		25,764,457				15,005,082				10,759,375
	SECOR Master		15,463,167				80,075				15,383,092
	Cambridge Master		37,549,964				28,580				37,521,384
	Willowbridge Master		95,699,725				7,316,065				88,383,660
	300 North Master		24,407,958				34,469				24,373,489
	Principle Master		18,952,159				353,341				18,598,818
	Summarized information reflecting the net investment income (loss) from trading, total trading results and net income (loss) of the Funds is shown in the following tables.
		For the three months ended June 30, 2014
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Blackwater Master		(24,208	)			2,304,526				2,280,318
	SECOR Master		(119,891	)			1,883,009				1,763,118
	Cambridge Master		(21,773	)			176,599				154,826
	Willowbridge Master		(103,816	)			1,170,549				1,066,733
	300 North Master		(35,598	)			933,080				897,482
	Principle Master		(57,858	)			133,492				75,634
		For the six months ended June 30, 2014
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Blackwater Master		(47,346	)			(1,729,574	)			(1,776,920	)
	SECOR Master		(244,781	)			836,042				591,261
	Cambridge Master		(66,719	)			332,674				265,955
	Willowbridge Master		(213,278	)			(1,038,561	)			(1,251,839	)
	300 North Master		(86,515	)			(3,704,098	)			(3,790,613	)
	Principle Master		(110,344	)			(2,222,418	)			(2,332,762	)
		For the three months ended June 30, 2013
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Waypoint Master	$	(32,298	)		$	(533,681	)		$	(565,979	)
	Blackwater Master		(28,472	)			(2,035,898	)			(2,064,370	)
	PGR Master		(54,085	)			2,151,266				2,097,181
	JEM Master		(348,433	)			1,773,546				1,425,113
	Cirrus Master		(50,395	)			1,994,980				1,944,585
	Cambridge Master		(8,654	)			1,880,968				1,872,314
	Willowbridge Master		(131,517	)			10,840,412				10,708,895
300 North Master		(30,206	)			1,329,747				1,299,541
Principle Master		(53,564	)			78,568				25,004
	For the six months ended June 30, 2013
	Net Investment				Total Trading				Net Income
	Income (Loss)				Results				(Loss)
Waypoint Master	$	(65,800	)		$	(152,817	)		$	(218,617	)
Blackwater Master		(59,076	)			(83,964	)			(143,040	)
PGR Master		(86,856	)			5,850,232				5,763,376
JEM Master		(691,783	)			828,150				136,367
Cirrus Master		(88,327	)			3,522,440				3,434,113
Cambridge Master		(28,417	)			3,201,019				3,172,602
Willowbridge Master		(240,793	)			12,917,087				12,676,294
300 North Master		(38,395	)			1,867,273				1,828,878
Principle Master		(66,100	)			(96,642	)			(162,742	)
Summarized information reflecting the Partnership’s investments in, and the operations of, the Funds is shown in the following tables.
	30-Jun-14										For the three months ended June 30, 2014
	% of					Fair Value					Income				Expenses							Net  Income				Investment	Redemptions
	Partnership’s										(Loss)											(Loss)				Objective	Permitted
Funds	Net Assets														Clearing			Other
															Fees
Blackwater Master			8.38	%			$	10,702,354				$	757,269			$	10,700		$	8,676			$	737,893		Commodity Portfolio	Monthly
SECOR Master			14.69	%				18,765,393					1,883,719				108,040			12,561				1,763,118		Commodity Portfolio	Monthly
Cambridge Master			18.19	%				23,244,008					186,587				—			23,223				163,364		Commodity Portfolio	Monthly
Willowbridge Master			9.33	%				11,918,145					300,740				14,182			4,412				282,146		Commodity Portfolio	Monthly
300 North Master			16.03	%				20,474,262					933,899				18,081			18,336				897,482		Commodity Portfolio	Monthly
Principle Master			10.43	%				13,322,664					134,064				34,887			23,543				75,634		Commodity Portfolio	Monthly
Total							$	98,426,826				$	4,196,278			$	185,890		$	90,751			$	3,919,637
	June 30, 2014										For the six months ended June 30, 2014
	% of					Fair Value					Income				Expenses							Net  Income				Investment	Redemptions
	Partnership’s										(Loss)											(Loss)				Objective	Permitted
Funds	Net Assets														Clearing			Other
															Fees
Blackwater Master			8.38	%			$	10,702,354				$	(809,000	)		$	23,805		$	17,895			$	(850,700	)	Commodity Portfolio	Monthly
SECOR Master			14.69	%				18,765,393					838,113				202,558			44,294				591,261		Commodity Portfolio	Monthly
Cambridge Master			18.19	%				23,244,008					301,495				30,867			40,279				230,349		Commodity Portfolio	Monthly
Willowbridge Master			9.33	%				11,918,145					(105,141	)			30,906			7,769				(143,816	)	Commodity Portfolio	Monthly
300 North Master			16.03	%				20,474,262					(3,701,369	)			45,923			43,321				(3,790,613	)	Commodity Portfolio	Monthly
Principle Master			10.43	%				13,322,664					(2,220,340	)			69,850			42,572				(2,332,762	)	Commodity Portfolio	Monthly
Total							$	98,426,826				$	(5,696,242	)		$	403,909		$	196,130			$	(6,296,281	)
Funds	31-Dec-13								For the three months ended June 30, 2013												Investment		Redemptions
	% of				Fair Value				Income				Expenses					Net Income			Objective		Permitted
	Partnership’s								(Loss)									(Loss)
	Net Assets												Brokerage			Other
													Fees
Waypoint Master		—	%		$	—			$	(234,595	)		$	5,606		$	9,015	$	(249,216	)	Commodity		Monthly
																					Portfolio
SECOR Master		9.49	%			15,383,266				—				—			—		—		Commodity		Monthly
																					Portfolio
Blackwater Master		15.14	%			24,550,063				(773,557	)			13,271			15,605		(802,433	)	Commodity		Monthly
																					Portfolio
PGR Master		—	%			—				1,563,929				16,156			26,732		1,521,041		Commodity		Monthly
																					Portfolio
JEM Master		—	%			—				1,270,966				239,546			11,686		1,019,734		Commodity		Monthly
																					Portfolio
Cambridge Master		16.17	%			26,222,525				1,064,070				—			10,073		1,053,997		Commodity		Monthly
																					Portfolio
Cirrus Master		—	%			—				1,689,927				24,851			18,908		1,646,168		Energy		Monthly
																					Markets
Willowbridge Master		8.86	%			14,357,559				3,003,509				25,617			6,658		2,971,234		Commodity		Monthly
																					Portfolio
300 North Master		15.04	%			24,373,736				1,330,565				12,824			18,200		1,299,541		Commodity		Monthly
																					Portfolio
Principle Master		11.47	%			18,599,026				79,255				36,543			17,708		25,004		Commodity		Monthly
																					Portfolio
Total					$	123,486,175			$	8,994,069			$	374,414		$	134,585	$	8,485,070
Funds	31-Dec-13								For the six months ended June 30, 2013												Investment		Redemptions
	% of				Fair Value				Income				Expenses					Net Income			Objective		Permitted
	Partnership’s								(Loss)									(Loss)
	Net Assets												Brokerage			Other
													Fees
Waypoint Master		—	%		$	—			$	(68,751	)		$	12,649		$	18,101	$	(99,501	)	Commodity		Monthly
																					Portfolio
SECOR Master		9.49	%			15,383,266				—				—			—		—		Commodity		Monthly
																					Portfolio
Blackwater Master		15.14	%			24,550,063				(8,535	)			40,594			25,189		(74,318	)	Commodity		Monthly
																					Portfolio
PGR Master		—	%			—				4,236,141				35,005			39,901		4,161,235		Commodity		Monthly
																					Portfolio
JEM Master		—	%			—				611,151				484,294			23,506		103,351		Commodity		Monthly
																					Portfolio
Cambridge Master		16.17	%			26,222,525				1,775,184				—			32,509		1,742,675		Commodity		Monthly
																					Portfolio
Cirrus Master		—	%			—				2,986,522				44,471			33,780		2,908,271		Energy		Monthly
																					Markets
Willowbridge Master		8.86	%			14,357,559				3,795,615				59,308			17,087		3,719,220		Commodity		Monthly
																					Portfolio
300 North Master		15.04	%			24,373,736				1,868,836				15,558			24,400		1,828,878		Commodity		Monthly
																					Portfolio
Principle Master		11.47	%			18,599,026				(95,561	)			43,274			23,908		(162,743	)	Commodity		Monthly
																					Portfolio
Total					$	123,486,175			$	15,100,602			$	735,153		$	238,381	$	14,127,068

Financial_Instrument_Risks

Financial Instrument Risks	6 Months Ended
	Jun. 30, 2014
Financial Instrument Risks	'
	6. Financial Instrument Risks:
	In the normal course of business, the Partnership and the Funds are parties to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include forwards, futures, options and swaps, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, to purchase or sell other financial instruments at specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange, a swap execution facility or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, option and swap contracts. Certain swap contracts may also be traded on a swap execution facility or OTC. OTC contracts are negotiated between contracting parties and also include certain forwards 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. The writer or seller of an option has unlimited risk. Each of these instruments is subject to various risks similar to those relating 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 44.7% to 61.7% of the Partnership’s/Fund’s contracts are traded OTC.
	The risk to the Limited Partners that have purchased Redeemable Units is limited to the amount of their share of the Partnership’s net assets and undistributed profits. This limited liability is a result of the organization of the Partnership as a limited partnership under New York law.
	Market risk is the potential for changes in the value of the financial instruments traded by the Partnership/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/Funds are exposed to a market risk equal to the value of futures and forward contracts purchased and unlimited liability on such contracts sold short.
	Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. The Partnership’s/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 had credit risk and concentration risk during the reporting period and prior periods included in this report, as CGM and/or MS&Co. or their affiliates were the sole counterparties or brokers with respect to the Partnership’s/Funds’ assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through CGM/MS&Co., the Partnership’s/Funds’ counterparty is an exchange or clearing organization. The Partnership and the Funds continue to be subject to such risks with respect to MS&Co.
	As both a buyer and seller of options, the Partnership/Funds 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 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, forwards and options 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 the Partnership’s/Funds’ business, these instruments may not be held to maturity.

Critical_Accounting_Policies

Critical Accounting Policies	6 Months Ended
	Jun. 30, 2014
Critical Accounting Policies	'
	7. Critical Accounting Policies
	Use of Estimates. The preparation of financial statements and accompanying notes in conformity with GAAP requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
	Partnership’s and the Funds’ Investments. All commodity interests held by the Partnership and the Funds, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests are recorded on the trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on open contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Partnership’s and the Funds’ Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The General Partner has concluded that based on available information in the marketplace, the Partnership’s and the Funds’ Level 1 assets and liabilities are actively traded.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that, based on available information in the marketplace, there has not been a significant decrease in the volume and level of activity in the Partnership’s and the Funds’ Level 2 assets and liabilities.
	The Partnership and the Funds will separately present purchases, sales, issuances and settlements in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation as well as the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	The Partnership and the Funds consider prices for exchange-traded commodity futures, forwards, swaps and options contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of non-exchange-traded forwards, swaps and certain option contracts for which market quotations are not readily available, are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). Investments in funds (other commodity pools) where there are no other rights or obligations inherent within the ownership interest held by the Partnership are priced based on the end of the day net asset value (Level 2). The value of the Partnership’s investments in the Funds reflects its proportional interest in the Funds. As of and for the periods ended June 30, 2014 and December 31, 2013, 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). For the six months ended June 30, 2014 and the twelve months ended December 31, 2013, there were no transfers of assets and liabilities between Level 1 and Level 2.
	Futures Contracts. The Partnership and the Funds trade futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of investments, currency or a standardized amount of a deliverable grade commodity, at a specified price on a specified future date, unless the contract is closed before the delivery date or if the delivery quantity is something where physical delivery cannot occur (such as the S&P 500 Index), whereby such contract is settled in cash. Payments (“variation margin”) may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. When the contract is closed, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in futures contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the futures broker, directly with the exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Forward Foreign Currency Contracts. Forward foreign currency contracts are those contracts where the Partnership and the Funds agree to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed-upon future date. Forward foreign currency contracts are valued daily, and the Partnership’s and Funds’ net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward foreign exchange rates at the reporting date, is included in the Statements of Financial Condition. Net realized gains (losses) and changes in net unrealized gains (losses) on forward foreign currency contracts are recognized in the period in which the contract is closed or the changes occur and are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	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 due to changes in market prices of investments held. Such fluctuations are included in net income (loss) in the Statements of Income and Expenses and Changes in Partners’ Capital.
	London Metals Exchange Forward Contracts. Metal contracts traded on the London Metals Exchange (“LME”) represent a firm commitment to buy or sell a specified quantity of aluminum, copper, lead, nickel, tin or zinc. LME contracts traded by the Partnership and the Funds are cash-settled based on prompt dates published by the LME. Payments (“variation margin”) may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. A contract is considered offset when all long positions have been matched with a like number of short positions settling on the same prompt date. When the contract is closed at the prompt date, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in LME contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the broker, directly with the LME. Net realized gains (losses) and changes in net unrealized gains (losses) on metal contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Options. The Partnership/Funds may purchase and write (sell) both exchange-listed and OTC options on commodities or financial instruments. An option is a contract allowing, but not requiring, its holder to buy (call) or sell (put) a specific or standard commodity or financial instrument at a specified price during a specified time period. The option premium is the total price paid or received for the option contract. When the Partnership/Funds write an option, the premium received is recorded as a liability in the Statements of Financial Condition and marked-to-market daily. When the Partnership/Funds purchase an option, the premium paid is recorded as an asset in the Statements of Financial Condition and marked-to-market daily. Net realized gains (losses) and changes in net unrealized gains (losses) on option contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Investment Company Status. Effective January 1, 2014, the Partnership adopted ASU 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements.” ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company’s status as an investment company. ASU 2013-08 is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of this ASU did not have a material impact on the Partnership’s financial statements. Based on management’s assessment, the Partnership has been deemed to be an investment company since inception. It has all of the fundamental and typical characteristics of an investment company.
	Income Taxes. Income taxes have not been provided as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses.
	GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements, and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements.
	The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2010 through 2013 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability.
	Net Income (Loss) per unit. Net income (loss) per unit is calculated in accordance with investment company guidance. See Note 2, “Financial Highlights.”
	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, other than that referenced in Note 1 and Note 5 to the Financial Statements, there were no subsequent events requiring adjustment of or disclosure in the financial statements.

Critical_Accounting_Policies_P

Critical Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Use of Estimates	'
	Use of Estimates. The preparation of financial statements and accompanying notes in conformity with GAAP requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates.
Partnership's and the Funds' Investments	'
	Partnership’s and the Funds’ Investments. All commodity interests held by the Partnership and the Funds, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests are recorded on the trade date and open contracts are recorded at fair value (as described below) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on open contracts are included as a component of equity in trading account on the Statements of Financial Condition. Net realized gains or losses and any change in net unrealized gains or losses from the preceding period are reported in the Statements of Income and Expenses and Changes in Partners’ Capital.
	Partnership’s and the Funds’ Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The General Partner has concluded that based on available information in the marketplace, the Partnership’s and the Funds’ Level 1 assets and liabilities are actively traded.
	GAAP also requires the use of judgment in determining if a formerly active market has become inactive and in determining fair values when the market has become inactive. The General Partner has concluded that, based on available information in the marketplace, there has not been a significant decrease in the volume and level of activity in the Partnership’s and the Funds’ Level 2 assets and liabilities.
	The Partnership and the Funds will separately present purchases, sales, issuances and settlements in their reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation as well as the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP.
	The Partnership and the Funds consider prices for exchange-traded commodity futures, forwards, swaps and options contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of non-exchange-traded forwards, swaps and certain option contracts for which market quotations are not readily available, are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). Investments in funds (other commodity pools) where there are no other rights or obligations inherent within the ownership interest held by the Partnership are priced based on the end of the day net asset value (Level 2). The value of the Partnership’s investments in the Funds reflects its proportional interest in the Funds. As of and for the periods ended June 30, 2014 and December 31, 2013, 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). For the six months ended June 30, 2014 and the twelve months ended December 31, 2013, there were no transfers of assets and liabilities between Level 1 and Level 2.
Futures Contracts	'
	Futures Contracts. The Partnership and the Funds trade futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of investments, currency or a standardized amount of a deliverable grade commodity, at a specified price on a specified future date, unless the contract is closed before the delivery date or if the delivery quantity is something where physical delivery cannot occur (such as the S&P 500 Index), whereby such contract is settled in cash. Payments (“variation margin”) may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. When the contract is closed, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in futures contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the futures broker, directly with the exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
Forward Foreign Currency Contracts	'
	Forward Foreign Currency Contracts. Forward foreign currency contracts are those contracts where the Partnership and the Funds agree to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed-upon future date. Forward foreign currency contracts are valued daily, and the Partnership’s and Funds’ net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward foreign exchange rates at the reporting date, is included in the Statements of Financial Condition. Net realized gains (losses) and changes in net unrealized gains (losses) on forward foreign currency contracts are recognized in the period in which the contract is closed or the changes occur and are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
	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 due to changes in market prices of investments held. Such fluctuations are included in net income (loss) in the Statements of Income and Expenses and Changes in Partners’ Capital.
London Metals Exchange Forward Contracts	'
	London Metals Exchange Forward Contracts. Metal contracts traded on the London Metals Exchange (“LME”) represent a firm commitment to buy or sell a specified quantity of aluminum, copper, lead, nickel, tin or zinc. LME contracts traded by the Partnership and the Funds are cash-settled based on prompt dates published by the LME. Payments (“variation margin”) may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. A contract is considered offset when all long positions have been matched with a like number of short positions settling on the same prompt date. When the contract is closed at the prompt date, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in LME contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the broker, directly with the LME. Net realized gains (losses) and changes in net unrealized gains (losses) on metal contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
Options	'
	Options. The Partnership/Funds may purchase and write (sell) both exchange-listed and OTC options on commodities or financial instruments. An option is a contract allowing, but not requiring, its holder to buy (call) or sell (put) a specific or standard commodity or financial instrument at a specified price during a specified time period. The option premium is the total price paid or received for the option contract. When the Partnership/Funds write an option, the premium received is recorded as a liability in the Statements of Financial Condition and marked-to-market daily. When the Partnership/Funds purchase an option, the premium paid is recorded as an asset in the Statements of Financial Condition and marked-to-market daily. Net realized gains (losses) and changes in net unrealized gains (losses) on option contracts are included in the Statements of Income and Expenses and Changes in Partners’ Capital.
Investment Company Status	'
	Investment Company Status. Effective January 1, 2014, the Partnership adopted ASU 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements.” ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company’s status as an investment company. ASU 2013-08 is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of this ASU did not have a material impact on the Partnership’s financial statements. Based on management’s assessment, the Partnership has been deemed to be an investment company since inception. It has all of the fundamental and typical characteristics of an investment company.
Income Taxes	'
	Income Taxes. Income taxes have not been provided as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses.
	GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements, and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements.
	The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2010 through 2013 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability.
Net Income (Loss) per unit	'
	Net Income (Loss) per unit. Net income (loss) per unit is calculated in accordance with investment company guidance. See Note 2, “Financial Highlights.”
Subsequent Events	'
	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, other than that referenced in Note 1 and Note 5 to the Financial Statements, there were no subsequent events requiring adjustment of or disclosure in the financial statements.

Financial_Highlights_Tables

Financial Highlights (Tables)	6 Months Ended
	Jun. 30, 2014
Schedule of Changes in Net Asset Value	'
	Changes in the net asset value per unit for Class A for the three and six months ended June 30, 2014 and 2013 were as follows:
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2014			2013			2014			2013
	Net realized and unrealized gains (losses)*		$	27.24		$	56.35		$	(86.20	)	$	76.55
	Interest Income			0.05			0.08			0.15			0.29
	Expenses**			(8.19	)		(14.88	)		(15.33	)		(25.51	)
	Increase (decrease) for the period			19.1			41.55			(101.38	)		51.33
	Net asset value per unit, beginning of period			1,229.92			1,369.59			1,350.40			1,359.81
	Net asset value per unit, end of period		$	1,249.02		$	1,411.14		$	1,249.02		$	1,411.14
	*	Includes ongoing selling agent and clearing fees. Net realized and unrealized gains (losses) excluding ongoing selling agent fees for the three months ended June 30, 2014 and 2013, and for the six months ended June 30, 2014 and 2013 were $37.44, $72.07, $(62.67) and $107.43, respectively.
	**	Excludes ongoing selling agent and clearing fees . Total expenses including ongoing selling agent fees for the three months ended June 30, 2014 and 2013 and for the six months ended June 30, 2014 and 2013 were $(18.39), $(30.59), $(38.86) and $(56.39), respectively.
Ratios to Average Net Assets	'
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2014			2013			2014			2013
	Ratios to average net assets:***
	Net investment income (loss)			(6.0	)%		(7.6	)%		(6.3	)%		(7.7	)%
	Incentive fees			0	%		0.4	%		0	%		0.6	%
	Net investment income (loss) before incentive fees****			(6.0	)%		(7.2	)%		(6.3	)%		(7.1	)%
	Operating expense			6	%		7.2	%		6.3	%		7.1	%
	Incentive fees			0	%		0.4	%		0	%		0.6	%
	Total expenses			6	%		7.6	%		6.3	%		7.7	%
	Total return:
	Total return before incentive fees			1.6	%		3.4	%		(7.5	)%		4.4	%
	Incentive fees			0	%		(0.4	)%		0	%		(0.6	)%
	Total return after incentive fees			1.6	%		3	%		(7.5	)%		3.8	%
	***	Annualized (other than incentive fees).
	****	Interest inc ome less total expenses.

Trading_Activities_Tables

Trading Activities (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Valuation of Partnership's Investments	'
	The following tables summarize the valuation of the Partnership’s investments at June 30, 2014 and December 31, 2013, respectively.
			Gross			Gross Amounts Offset in the			Amounts			Gross Amounts not Offset in					Net
			Amounts			Statement of Financial			Presented  in the			the Statement of Financial					Amount
			Recognized			Condition			Statement of			Condition
	June 30, 2014								Financial Condition			Financial			Cash
												Instruments			Collateral
															Received
	Assets
	Futures		$	304,764		$	(304,764	)	$	—		$	—		$	—	$	—
	Forwards			110,499			(110,499	)		—			—			—		—
	Options purchased			806			—			806			(806	)		—		—
	Total Assets			416,069			(415,263	)		806			(806	)		—		—
	Liabilities
	Futures		$	(323,945	)	$	304,764		$	(19,181	)	$	—		$	—	$	(19,181	)
	Forwards			(153,220	)		110,499			(42,721	)		—			—		(42,721	)
	Options premium received			(214,499	)		—			(214,499	)		806			—		(213,693	)
	Total Liabilities			(691,664	)		415,263			(276,401	)		806			—		275,595
	Net fair value																$	(275,595	)
			Gross Amounts			Gross Amounts Offset in the			Amounts			Gross Amounts
			Recognized			Statements of Financial			Presented in the			not Offset in the
						Condition			Statements of			Statements of
									Financial  Condition			Financial Condition
	December 31, 2013											Financial			Cash		Net Amount
												Instruments			Collateral
															Received
	Assets
	Futures		$	1,432,133		$	(797,904	)	$	634,229		$	—		$	—	$	634,229
	Options purchased			1,278,375			—			1,278,375			(322,350	)		—		956,025
	Total Assets			2,710,508			(797,904	)		1,912,604			(322,350	)		—		1,590,254
	Liabilities
	Futures		$	(797,904	)	$	797,904		$	—		$	—		$	—	$	—
	Options premium received			(322,350	)		—			(322,350	)		322,350			—		—
	Total Liabilities			(1,120,254	)		797,904			(322,350	)		322,350			—		—
	Net fair value																$	1,590,254
Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded	'
	The following tables indicate the gross fair va lues of derivative instruments of futures, forwards and options contracts as separate assets and liabilities as of June 30, 2014 and December 31, 2013.
	Assets		June 30, 2014
	Futures Contracts
	Currencies		$	1,775
	Energy			22,901
	Grains			40,049
	Indices			139,274
	Interest Rates Non-U.S.			15,242
	Interest Rates U.S.			46,672
	Livestock			17,666
	Metals			1,000
	Softs			20,185
	Total unrealized appreciation on open futures contracts		$	304,764
	Liabilities
	Futures Contracts
	Energy		$	(23,047	)
	Grains			(62,056	)
	Indices			(122,954	)
	Interest Rates Non-U.S.			(48,268	)
	Interest Rates U.S.			(219	)
	Livestock			(3,400	)
	Metals			(49,307	)
	Softs			(14,694	)
	Total unrealized depreciation on open futures contracts		$	(323,945	)
	Net unrealized depreciation on open futures contracts		$	(19,181	)*
	Assets
	Forward Contracts
	Currencies		$	110,499
	Total unrealized appreciation on open forward contracts		$	110,499
	Liabilities
	Forward Contracts
	Currencies		$	(153,220	)
	Total unrealized depreciation on open forward contracts		$	(153,220	)
	Net unrealized depreciation on open forward contracts		$	(42,721	)**
	Assets
	Options purchased
	Energy		$	806
	Total options purchased		$	806	***
	Liabilities
	Options premium received
	Energy		$	(214,499	)
	Total options premium received		$	(214,499	)****
	*	This amount is included in “Net unrealized depreciation on open futures contracts” on the Statements of Financial Condition.
	**	This amount is included in “Net unrealized depreciation on open forward contracts” on the Statements of Financial Condition.
	***	This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.
	****	This amount is included in “Options premium received, at fair value” on the Statements of Financial Condition.
			December 31,
			2013
	Assets
	Futures Contracts
	Energy		$	47,952
	Grains			330,270
	Indices			581,789
	Interest Rates Non-U.S.			281,256
	Interest Rates U.S.			6,242
	Livestock			380
	Metals			54,812
	Softs			129,432
	Total unrealized appreciation on open futures contracts		$	1,432,133
	Liabilities
	Futures Contracts
	Energy		$	(24,919	)
	Grains			(62,987	)
Indices			(386,784	)
Interest Rates Non-U.S.			(104,588	)
Interest Rates U.S.			(201,662	)
Livestock			(4,050	)
Metals			(2,430	)
Softs			(10,484	)
Total unrealized depreciation on open futures contracts		$	(797,904	)
Net unrealized appreciation on open futures contracts		$	634,229	*
Assets
Options purchased
Energy		$	1,278,375
Total options purchased		$	1,278,375	**
Liabilities
Options premium received
Energy		$	(322,350	)
Total options premium received		$	(322,350	)***
*	This amount is included in “Net unrealized appreciation on open futures contracts” on the Statements of Financial Condition.
**	This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.
***	This amount is included in “Options premium received, at fair value” on the Statements of Financial Condition.
Trading Gains and Losses by Market Sector on Derivative Instruments Traded	'
	The following tables indicate the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three and six months ended June 30, 2014 and 2013.
			Three Months Ended						Six Months Ended
			June 30,						June 30,
	Sector		2014			2013			2014			2013
	Currencies		$	(191,252	)	$	180,715		$	(172,306	)	$	491,446
	Energy			525,708			—			(1,037,631	)		114,173
	Grains			17,389			—			68,612			(1,670	)
	Indices			(223,847	)		394,274			(630,258	)		(77,114	)
	Interest Rates U.S.			189,066			158,978			265,474			(85,074	)
	Interest Rates Non-U.S.			(380,637	)		(67,017	)		(775,805	)		(669,237	)
	Livestock			(120,940	)		—			36,890			(4,570	)
	Metals			974			—			44,513			(350,475	)
	Softs			13,716			—			(124,980	)		23,373
	Total		$	(169,823	) ****	$	666,950	****	$	(2,325,491	)****	$	(559,148	)****
	****	This amount is included in “Total trading results” on the Statements of Income and Expenses and Changes in Partners’ Capital.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments Priced at Fair Value Using Unobservable Inputs	'
	During the six months ended June 30, 2014 and the twelve months ended December 31, 2013, there were no transfers of assets or liabilities between Level 1 and Level 2.
		June 30, 2014		Quoted Prices in			Significant Other		Significant
				Active  Markets for			Observable  Inputs		Unobservable  Inputs
				Identical Assets			(Level 2)		(Level 3)
				and Liabilities
				(Level 1)
	Assets
	Investment in Funds	$	98,426,826	$	—		$	98,426,826	$	—
	Futures		304,764		304,764			—		—
	Forwards		110,499		—			110,499		—
	Options purchased		806		806			—		—
	Total assets	$	98,842,895	$	305,570		$	98,537,325	$	—
	Liabilities
	Futures	$	323,945	$	323,945		$	—	$	—
	Forwards		153,220		—			153,220		—
	Options premium received		214,499		214,499			—		—
	Total liabilities		691,664		538,444			153,220		—
	Net fair value	$	98,151,231	$	(232,874	)	$	98,384,105	$	—
		December 31, 2013		Quoted Prices in			Significant Other		Significant
				Active Markets for			Observable Inputs		Unobservable Inputs
				Identical Assets			(Level 2)		(Level 3)
				and  Liabilities
				(Level 1)
	Assets
	Investment in Funds	$	123,486,175	$	—		$	123,486,175	$	—
	Futures		1,432,133		1,432,133			—		—
	Options purchased		1,278,375		1,278,375			—		—
	Total assets		126,196,683		2,710,508			123,486,175		—
	Liabilities
	Futures	$	797,904	$	797,904		$	—	$	—
	Options premium received		322,350		322,350			—		—
	Total liabilities		1,120,254		1,120,254			—		—
	Net fair value	$	125,076,429	$	1,590,254		$	123,486,175	$	—

Investment_in_Funds_Tables

Investment in Funds (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Total Assets, Liabilities and Capital	'
	Summarized information reflecting the total assets, liabilities and capital of the Funds is shown in the following tables.
		30-Jun-14
		Total Assets				Total Liabilities				Total Capital
	Blackwater Master		38,061,343				444,806				37,616,537
	SECOR Master		18,788,217				23,124				18,765,093
	Cambridge Master		34,803,946				545,762				34,258,184
	Willowbridge Master		77,867,555				1,765,021				76,102,534
	300 North Master		20,681,966				208,065				20,473,901
	Principle Master		13,972,480				650,045				13,322,435
		31-Dec-13
		Total Assets				Total Liabilities				Total Capital
	Blackwater Master	$	63,936,601			$	610,828			$	63,325,773
	PGR Master		25,764,457				15,005,082				10,759,375
	SECOR Master		15,463,167				80,075				15,383,092
	Cambridge Master		37,549,964				28,580				37,521,384
	Willowbridge Master		95,699,725				7,316,065				88,383,660
	300 North Master		24,407,958				34,469				24,373,489
	Principle Master		18,952,159				353,341				18,598,818
Summary of Net Investment Income (Loss), Total Trading Results and Net Income (Loss)	'
	Summarized information reflecting the net investment income (loss) from trading, total trading results and net income (loss) of the Funds is shown in the following tables.
		For the three months ended June 30, 2014
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Blackwater Master		(24,208	)			2,304,526				2,280,318
	SECOR Master		(119,891	)			1,883,009				1,763,118
	Cambridge Master		(21,773	)			176,599				154,826
	Willowbridge Master		(103,816	)			1,170,549				1,066,733
	300 North Master		(35,598	)			933,080				897,482
	Principle Master		(57,858	)			133,492				75,634
		For the six months ended June 30, 2014
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Blackwater Master		(47,346	)			(1,729,574	)			(1,776,920	)
	SECOR Master		(244,781	)			836,042				591,261
	Cambridge Master		(66,719	)			332,674				265,955
	Willowbridge Master		(213,278	)			(1,038,561	)			(1,251,839	)
	300 North Master		(86,515	)			(3,704,098	)			(3,790,613	)
	Principle Master		(110,344	)			(2,222,418	)			(2,332,762	)
		For the three months ended June 30, 2013
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Waypoint Master	$	(32,298	)		$	(533,681	)		$	(565,979	)
	Blackwater Master		(28,472	)			(2,035,898	)			(2,064,370	)
	PGR Master		(54,085	)			2,151,266				2,097,181
	JEM Master		(348,433	)			1,773,546				1,425,113
	Cirrus Master		(50,395	)			1,994,980				1,944,585
	Cambridge Master		(8,654	)			1,880,968				1,872,314
	Willowbridge Master		(131,517	)			10,840,412				10,708,895
	300 North Master		(30,206	)			1,329,747				1,299,541
	Principle Master		(53,564	)			78,568				25,004
		For the six months ended June 30, 2013
		Net Investment				Total Trading				Net Income
		Income (Loss)				Results				(Loss)
	Waypoint Master	$	(65,800	)		$	(152,817	)		$	(218,617	)
	Blackwater Master		(59,076	)			(83,964	)			(143,040	)
	PGR Master		(86,856	)			5,850,232				5,763,376
	JEM Master		(691,783	)			828,150				136,367
	Cirrus Master		(88,327	)			3,522,440				3,434,113
	Cambridge Master		(28,417	)			3,201,019				3,172,602
	Willowbridge Master		(240,793	)			12,917,087				12,676,294
	300 North Master		(38,395	)			1,867,273				1,828,878
	Principle Master		(66,100	)			(96,642	)			(162,742	)
Summary of Partnership's Investment and Operations of Funds	'
	Summarized information reflecting the Partnership’s investments in, and the operations of, the Funds is shown in the following tables.
		30-Jun-14										For the three months ended June 30, 2014
		% of					Fair Value					Income				Expenses							Net  Income				Investment	Redemptions
		Partnership’s										(Loss)											(Loss)				Objective	Permitted
	Funds	Net Assets														Clearing			Other
																Fees
	Blackwater Master			8.38	%			$	10,702,354				$	757,269			$	10,700		$	8,676			$	737,893		Commodity Portfolio	Monthly
	SECOR Master			14.69	%				18,765,393					1,883,719				108,040			12,561				1,763,118		Commodity Portfolio	Monthly
	Cambridge Master			18.19	%				23,244,008					186,587				—			23,223				163,364		Commodity Portfolio	Monthly
	Willowbridge Master			9.33	%				11,918,145					300,740				14,182			4,412				282,146		Commodity Portfolio	Monthly
	300 North Master			16.03	%				20,474,262					933,899				18,081			18,336				897,482		Commodity Portfolio	Monthly
	Principle Master			10.43	%				13,322,664					134,064				34,887			23,543				75,634		Commodity Portfolio	Monthly
	Total							$	98,426,826				$	4,196,278			$	185,890		$	90,751			$	3,919,637
		June 30, 2014										For the six months ended June 30, 2014
		% of					Fair Value					Income				Expenses							Net  Income				Investment	Redemptions
		Partnership’s										(Loss)											(Loss)				Objective	Permitted
	Funds	Net Assets														Clearing			Other
																Fees
	Blackwater Master			8.38	%			$	10,702,354				$	(809,000	)		$	23,805		$	17,895			$	(850,700	)	Commodity Portfolio	Monthly
	SECOR Master			14.69	%				18,765,393					838,113				202,558			44,294				591,261		Commodity Portfolio	Monthly
	Cambridge Master			18.19	%				23,244,008					301,495				30,867			40,279				230,349		Commodity Portfolio	Monthly
	Willowbridge Master			9.33	%				11,918,145					(105,141	)			30,906			7,769				(143,816	)	Commodity Portfolio	Monthly
	300 North Master			16.03	%				20,474,262					(3,701,369	)			45,923			43,321				(3,790,613	)	Commodity Portfolio	Monthly
	Principle Master			10.43	%				13,322,664					(2,220,340	)			69,850			42,572				(2,332,762	)	Commodity Portfolio	Monthly
	Total							$	98,426,826				$	(5,696,242	)		$	403,909		$	196,130			$	(6,296,281	)
	Funds	31-Dec-13								For the three months ended June 30, 2013												Investment		Redemptions
		% of				Fair Value				Income				Expenses					Net Income			Objective		Permitted
		Partnership’s								(Loss)									(Loss)
		Net Assets												Brokerage			Other
														Fees
	Waypoint Master		—	%		$	—			$	(234,595	)		$	5,606		$	9,015	$	(249,216	)	Commodity		Monthly
																						Portfolio
	SECOR Master		9.49	%			15,383,266				—				—			—		—		Commodity		Monthly
																						Portfolio
	Blackwater Master		15.14	%			24,550,063				(773,557	)			13,271			15,605		(802,433	)	Commodity		Monthly
																						Portfolio
	PGR Master		—	%			—				1,563,929				16,156			26,732		1,521,041		Commodity		Monthly
																						Portfolio
	JEM Master		—	%			—				1,270,966				239,546			11,686		1,019,734		Commodity		Monthly
																						Portfolio
	Cambridge Master		16.17	%			26,222,525				1,064,070				—			10,073		1,053,997		Commodity		Monthly
																						Portfolio
	Cirrus Master		—	%			—				1,689,927				24,851			18,908		1,646,168		Energy		Monthly
																						Markets
	Willowbridge Master		8.86	%			14,357,559				3,003,509				25,617			6,658		2,971,234		Commodity		Monthly
																						Portfolio
	300 North Master		15.04	%			24,373,736				1,330,565				12,824			18,200		1,299,541		Commodity		Monthly
																						Portfolio
	Principle Master		11.47	%			18,599,026				79,255				36,543			17,708		25,004		Commodity		Monthly
																						Portfolio
	Total					$	123,486,175			$	8,994,069			$	374,414		$	134,585	$	8,485,070
	Funds	31-Dec-13								For the six months ended June 30, 2013												Investment		Redemptions
		% of				Fair Value				Income				Expenses					Net Income			Objective		Permitted
		Partnership’s								(Loss)									(Loss)
		Net Assets												Brokerage			Other
														Fees
	Waypoint Master		—	%		$	—			$	(68,751	)		$	12,649		$	18,101	$	(99,501	)	Commodity		Monthly
																						Portfolio
	SECOR Master		9.49	%			15,383,266				—				—			—		—		Commodity		Monthly
																						Portfolio
	Blackwater Master		15.14	%			24,550,063				(8,535	)			40,594			25,189		(74,318	)	Commodity		Monthly
																						Portfolio
	PGR Master		—	%			—				4,236,141				35,005			39,901		4,161,235		Commodity		Monthly
Portfolio
JEM Master		—	%			—				611,151				484,294			23,506		103,351		Commodity		Monthly
																					Portfolio
Cambridge Master		16.17	%			26,222,525				1,775,184				—			32,509		1,742,675		Commodity		Monthly
																					Portfolio
Cirrus Master		—	%			—				2,986,522				44,471			33,780		2,908,271		Energy		Monthly
																					Markets
Willowbridge Master		8.86	%			14,357,559				3,795,615				59,308			17,087		3,719,220		Commodity		Monthly
																					Portfolio
300 North Master		15.04	%			24,373,736				1,868,836				15,558			24,400		1,828,878		Commodity		Monthly
																					Portfolio
Principle Master		11.47	%			18,599,026				(95,561	)			43,274			23,908		(162,743	)	Commodity		Monthly
																					Portfolio
Total					$	123,486,175			$	15,100,602			$	735,153		$	238,381	$	14,127,068

General_Additional_Information

General - Additional Information (Detail) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Apr. 01, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		Maximum [Member]	Selling Agreement [Member]	Class A units [Member]	Class A units [Member]	Class D units [Member]	Class Z units [Member]
					Selling Agreement [Member]	Selling Agreement [Member]	Selling Agreement [Member]
Partnership Organization And Basis Of Presentation [Line Items]	'	'	'	'	'	'	'
Redeemable units of limited partnership interest sold during the initial offering period	20,872	'	'	'	'	'	'
Redeemable Units per share	$1,000	'	'	'	'	'	'
Percentage of partnership assets allocated	'	10.00%	'	'	'	'	'
Percentage of brokerage fees paid	'	'	'	2.50%	3.50%	1.25%	0.50%
Management fees description	'	'	'The Partnership entered into a selling agreement with Morgan Stanley Smith Barney LLC (d/b/a Morgan Stanley Wealth Management). Pursuant to the selling agreement, Morgan Stanley Wealth Management received a selling agent fee equal to (i) 3.50% per year of adjusted month-end net assets for Class A units, (ii) 1.25% per year of adjusted month-end net assets for Class D units and (iii) 0.50% per year of adjusted month-end net assets for Class Z units.	'	'	'	'

Financial_Highlights_Schedule_

Financial Highlights - Schedule of Changes in Net Asset Value (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Financial Highlights [Line Items]	'	'	'	'
Net realized and unrealized gains (losses)	27.24	56.35	-86.2	76.55
Interest Income	0.05	0.08	0.15	0.29
Expenses	-8.19	-14.88	-15.33	-25.51
Increase (decrease) for the period	19.1	41.55	-101.38	51.33
Net asset value per unit, beginning of period	1,229.92	1,369.59	1,350.40	1,359.81
Net asset value per unit, end of period	1,249.02	1,411.14	1,249.02	1,411.14

Financial_Highlights_Schedule_1

Financial Highlights - Schedule of Changes in Net Asset Value (Parenthetical) (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Financial Highlights [Line Items]	'	'	'	'
Net realized and unrealized gains (losses) excluding ongoing selling agent fees and clearing fees	37.44	72.07	-62.67	107.43
Total expenses including ongoing selling agent fees and clearing fees	-18.39	-30.6	-38.86	-56.39

Financial_Highlights_Ratios_to

Financial Highlights - Ratios to Average Net Assets (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Ratios to average net assets:	'	'	'	'
Net investment income (loss)	-6.00%	-7.60%	-6.30%	-7.70%
Incentive fees	0.00%	0.40%	0.00%	0.60%
Net investment income (loss) before incentive fees	-6.00%	-7.20%	-6.30%	-7.10%
Operating expense	6.00%	7.20%	6.30%	7.10%
Incentive fees	0.00%	0.40%	0.00%	0.60%
Total expenses	6.00%	7.60%	6.30%	7.70%
Total return before incentive fees	1.60%	3.40%	-7.50%	4.40%
Incentive fees	0.00%	-0.40%	0.00%	-0.60%
Total return after incentive fees	1.60%	3.00%	-7.50%	3.80%

Trading_Activities_Additional_

Trading Activities - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Contracts	Contracts	Contracts	Contracts
Futures Contracts [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Average number of derivative contracts traded	660	1,568	745	1,582
Forward Contracts [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Average number of derivative contracts traded	0	0	0	18
Options Contracts [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Average number of derivative contracts traded	2,392	0	1,768	25
Currency Forward Contracts [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Average notional value of derivative	91,862,210	0	91,892,322	903

Trading_Activities_Summary_of_

Trading Activities - Summary of Valuation of Partnership's Investments (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Derivative [Line Items]	'	'
Net fair value	($275,595)	$1,590,254
Gross Amounts Recognized, Assets	416,069	2,710,508
Gross Amounts Offset in the Statements of Financial Condition, Assets	-415,263	-797,904
Amounts Presented in the Statements of Financial Condition, Assets	806	1,912,604
Net Amount, Assets	0	1,590,254
Gross Amounts Recognized, Liabilities	-691,664	-1,120,254
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	415,263	797,904
Amounts Presented in the Statements of Financial Condition, Liabilities	-276,401	-322,350
Net Amount, Liabilities	275,595	0
Futures Contracts [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	304,764	1,432,133
Gross Amounts Offset in the Statements of Financial Condition, Assets	-304,764	-797,904
Amounts Presented in the Statements of Financial Condition, Assets	0	634,229
Net Amount, Assets	0	634,229
Gross Amounts Recognized, Liabilities	-323,945	-797,904
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	304,764	797,904
Amounts Presented in the Statements of Financial Condition, Liabilities	-19,181	0
Net Amount, Liabilities	-19,181	0
Options premium received [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Liabilities	-214,499	-322,350
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	'	0
Amounts Presented in the Statements of Financial Condition, Liabilities	-214,499	-322,350
Net Amount, Liabilities	-213,693	0
Options Purchased [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	806	1,278,375
Gross Amounts Offset in the Statements of Financial Condition, Assets	0	0
Amounts Presented in the Statements of Financial Condition, Assets	806	1,278,375
Net Amount, Assets	0	956,025
Forward Contracts [Member]	'	'
Derivative [Line Items]	'	'
Gross Amounts Recognized, Assets	110,499	'
Gross Amounts Offset in the Statements of Financial Condition, Assets	-110,499	'
Amounts Presented in the Statements of Financial Condition, Assets	0	'
Net Amount, Assets	0	'
Gross Amounts Recognized, Liabilities	-153,220	'
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	110,499	'
Amounts Presented in the Statements of Financial Condition, Liabilities	-42,721	'
Net Amount, Liabilities	-42,721	'
Financial Instruments [Member]	'	'
Derivative [Line Items]	'	'
Financial Instruments, Assets	-806	-322,350
Financial Instruments, Liabilities	806	322,350
Financial Instruments [Member] | Futures Contracts [Member]	'	'
Derivative [Line Items]	'	'
Financial Instruments, Assets	0	0
Financial Instruments, Liabilities	0	0
Financial Instruments [Member] | Options premium received [Member]	'	'
Derivative [Line Items]	'	'
Financial Instruments, Liabilities	806	322,350
Financial Instruments [Member] | Options Purchased [Member]	'	'
Derivative [Line Items]	'	'
Financial Instruments, Assets	-806	-322,350
Financial Instruments [Member] | Forward Contracts [Member]	'	'
Derivative [Line Items]	'	'
Financial Instruments, Assets	0	'
Financial Instruments, Liabilities	0	'
Cash Collateral Received [Member]	'	'
Derivative [Line Items]	'	'
Cash Collateral Received, Assets	'	'
Cash Collateral Received, Liabilities	'	'
Cash Collateral Received [Member] | Futures Contracts [Member]	'	'
Derivative [Line Items]	'	'
Cash Collateral Received, Assets	'	'
Cash Collateral Received, Liabilities	'	'
Cash Collateral Received [Member] | Options premium received [Member]	'	'
Derivative [Line Items]	'	'
Cash Collateral Received, Liabilities	'	'
Cash Collateral Received [Member] | Options Purchased [Member]	'	'
Derivative [Line Items]	'	'
Cash Collateral Received, Assets	'	'
Cash Collateral Received [Member] | Forward Contracts [Member]	'	'
Derivative [Line Items]	'	'
Cash Collateral Received, Assets	'	'

Trading_Activities_Gross_Fair_

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	$110,499	'
Total options purchased	806	1,278,375
Total unrealized depreciation on open contracts	-153,220	'
Total options premium received	-214,499	-322,350
Energy [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total options purchased	806	1,278,375
Total options premium received	-214,499	-322,350
Futures Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Net unrealized appreciation (depreciation) on open contracts	-19,181	634,229
Forward Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Net unrealized appreciation (depreciation) on open contracts	-42,721	'
Derivative Assets [Member] | Futures Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	304,764	1,432,133
Derivative Assets [Member] | Futures Contracts [Member] | Energy [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	22,901	47,952
Derivative Assets [Member] | Futures Contracts [Member] | Grains [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	40,049	330,270
Derivative Assets [Member] | Futures Contracts [Member] | Indices [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	139,274	581,789
Derivative Assets [Member] | Futures Contracts [Member] | Interest Rates Non-U.S. [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	15,242	281,256
Derivative Assets [Member] | Futures Contracts [Member] | Interest Rates U.S. [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	46,672	6,242
Derivative Assets [Member] | Futures Contracts [Member] | Livestock [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	17,666	380
Derivative Assets [Member] | Futures Contracts [Member] | Metals [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	1,000	54,812
Derivative Assets [Member] | Futures Contracts [Member] | Softs [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	20,185	129,432
Derivative Assets [Member] | Futures Contracts [Member] | Currencies [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	1,775	'
Derivative Assets [Member] | Forward Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	110,499	'
Derivative Assets [Member] | Forward Contracts [Member] | Currencies [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized appreciation on open contracts	110,499	'
Derivative Liabilities [Member] | Futures Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-323,945	-797,904
Derivative Liabilities [Member] | Futures Contracts [Member] | Energy [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-23,047	-24,919
Derivative Liabilities [Member] | Futures Contracts [Member] | Grains [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-62,056	-62,987
Derivative Liabilities [Member] | Futures Contracts [Member] | Indices [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-122,954	-386,784
Derivative Liabilities [Member] | Futures Contracts [Member] | Interest Rates Non-U.S. [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-48,268	-104,588
Derivative Liabilities [Member] | Futures Contracts [Member] | Interest Rates U.S. [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-219	-201,662
Derivative Liabilities [Member] | Futures Contracts [Member] | Livestock [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-3,400	-4,050
Derivative Liabilities [Member] | Futures Contracts [Member] | Metals [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-49,307	-2,430
Derivative Liabilities [Member] | Futures Contracts [Member] | Softs [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-14,694	-10,484
Derivative Liabilities [Member] | Forward Contracts [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	-153,220	'
Derivative Liabilities [Member] | Forward Contracts [Member] | Currencies [Member]	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'
Total unrealized depreciation on open contracts	($153,220)	'

Trading_Activities_Trading_Gai

Trading Activities - Trading Gains and Losses by Market Sector on Derivative Instruments Traded (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	$4,022,091	$9,651,046	($8,036,114)	$14,507,217
Derivative instruments [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	-169,823	666,950	-2,325,491	-559,148
Derivative instruments [Member] | Currencies [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	-191,252	180,715	-172,306	491,446
Derivative instruments [Member] | Energy [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	525,708	'	-1,037,631	114,173
Derivative instruments [Member] | Grains [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	17,389	'	68,612	-1,670
Derivative instruments [Member] | Indices [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	-223,847	394,274	-630,258	-77,114
Derivative instruments [Member] | Interest Rates U.S. [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	189,066	158,978	265,474	-85,074
Derivative instruments [Member] | Interest Rates Non-U.S. [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	-380,637	-67,017	-775,805	-669,237
Derivative instruments [Member] | Livestock [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	-120,940	'	36,890	-4,570
Derivative instruments [Member] | Metals [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	974	'	44,513	-350,475
Derivative instruments [Member] | Softs [Member]	'	'	'	'
Trading Activity, Gains and Losses, Net [Line Items]	'	'	'	'
Total trading results	$13,716	'	($124,980)	$23,373

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Derivative Financial Instruments [Line Items]	'	'
Transfers of assets between Level 1 and Level 2	'	'
Transfers of liabilities between Level 1 and Level 2	'	'

Fair_Value_Measurements_Deriva

Fair Value Measurements - Derivative Instruments Priced at Fair Value Using Unobservable Inputs (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Assets	'	'
Investment in Funds	$98,426,826	$123,486,175
Derivative assets	806	1,912,604
Options purchased	806	1,278,375
Total assets	98,842,895	126,196,683
Liabilities	'	'
Derivatives liabilities	276,401	322,350
Options premium received	214,499	322,350
Total liabilities	691,664	1,120,254
Net fair value	98,151,231	125,076,429
Futures Contracts [Member]	'	'
Assets	'	'
Derivative assets	304,764	1,432,133
Liabilities	'	'
Derivatives liabilities	323,945	797,904
Forward Contracts [Member]	'	'
Assets	'	'
Derivative assets	110,499	'
Liabilities	'	'
Derivatives liabilities	153,220	'
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]	'	'
Assets	'	'
Options purchased	806	1,278,375
Total assets	305,570	2,710,508
Liabilities	'	'
Options premium received	214,499	322,350
Total liabilities	538,444	1,120,254
Net fair value	-232,874	1,590,254
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Futures Contracts [Member]	'	'
Assets	'	'
Derivative assets	304,764	1,432,133
Liabilities	'	'
Derivatives liabilities	323,945	797,904
Significant Other Observable Inputs (Level 2) [Member]	'	'
Assets	'	'
Investment in Funds	98,426,826	123,486,175
Total assets	98,537,325	123,486,175
Liabilities	'	'
Total liabilities	153,220	'
Net fair value	98,384,105	123,486,175
Significant Other Observable Inputs (Level 2) [Member] | Forward Contracts [Member]	'	'
Assets	'	'
Derivative assets	110,499	'
Liabilities	'	'
Derivatives liabilities	153,220	'
Significant Unobservable Inputs (Level 3) [Member]	'	'
Assets	'	'
Investment in Funds	'	'

Investment_in_Funds_Additional

Investment in Funds - Additional Information (Detail) (USD $)

0 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

Nov. 30, 2013

Mar. 01, 2010

Dec. 31, 2013

Nov. 01, 2010

Nov. 01, 2010

Jun. 30, 2014

Dec. 31, 2013

Oct. 31, 2013

Dec. 31, 2010

Sep. 01, 2012

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2013

Jun. 30, 2014

Dec. 31, 2013

Jul. 31, 2014

Feb. 28, 2013

Jun. 30, 2014

Dec. 31, 2013

Aug. 01, 2013

Jun. 30, 2014

Dec. 31, 2013

Aug. 31, 2013

Dec. 31, 2010

Waypoint Master [Member]

Waypoint Master [Member]

PGR Master [Member]

PGR Master [Member]

Blackwater Master [Member]

Blackwater Master [Member]

Blackwater Master [Member]

JEM Master [Member]

JEM Master [Member]

Cambridge Master [Member]

Cambridge Master [Member]

Cambridge Master [Member]

Willowbridge Master [Member]

Willowbridge Master [Member]

Willowbridge Master [Member]

Principle Master Fund L.P. [Member]

Principle Master Fund L.P. [Member]

Principle Master Fund L.P. [Member]

Principle Master Fund L.P. [Member]

300 North Capital Master Fund L.P. [Member]

300 North Capital Master Fund L.P. [Member]

300 North Capital Master Fund L.P. [Member]

SECOR Master [Member]

SECOR Master [Member]

SECOR Master [Member]

Cirrus Master [Member]

Cirrus Master [Member]

Subsequent Event [Member]

Investment Holdings [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Partnership units purchased

'

26,581.68

'

'

'

'

'

'

19,624.48

'

'

'

14,103.32

'

'

'

'

'

'

'

'

'

'

'

'

'

22,270.91

Cash paid

'

$26,581,680

'

$14,913,029

$15,674,694

'

'

'

$19,624,480

'

'

'

$29,484,306

'

'

$6,503,661

'

'

'

$10,000,000

'

'

$10,000,000

'

'

'

$22,270,911

Investments redeemed

4,378,673

'

14,986,312

'

'

'

'

4,400,957

'

'

'

'

'

'

'

'

'

'

12,165,827

'

'

'

'

'

'

9,645,872

'

Partnership purchased

'

'

'

'

'

'

'

'

'

$3,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum amount of partnership assets allocated to trading advisor

'

'

'

'

'

'

'

'

'

'

'2 times

'

'

'3 times

'

'

'1.5 times

'

'

'

'2 times

'

'

'1.5 times

'

'

'

Percent of partnership

'

'

58.20%

'

'

28.50%

38.80%

'

'

'

67.90%

69.90%

'

15.70%

15.20%

'

100.00%

100.00%

'

'

100.00%

100.00%

'

100.00%

100.00%

'

'

Investment_in_Funds_Summary_of

Investment in Funds - Summary of Total Assets, Liabilities and Capital (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Blackwater Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	$38,061,343	$63,936,601
Total Liabilities	444,806	610,828
Total Capital	37,616,537	63,325,773
SECOR Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	18,788,217	15,463,167
Total Liabilities	23,124	80,075
Total Capital	18,765,093	15,383,092
Cambridge Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	34,803,946	37,549,964
Total Liabilities	545,762	28,580
Total Capital	34,258,184	37,521,384
Willowbridge Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	77,867,555	95,699,725
Total Liabilities	1,765,021	7,316,065
Total Capital	76,102,534	88,383,660
300 North Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	20,681,966	24,407,958
Total Liabilities	208,065	34,469
Total Capital	20,473,901	24,373,489
Principle Master Fund L.P. [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	13,972,480	18,952,159
Total Liabilities	650,045	353,341
Total Capital	13,322,435	18,598,818
PGR Master [Member]	'	'
Investment Holdings [Line Items]	'	'
Total Assets	'	25,764,457
Total Liabilities	'	15,005,082
Total Capital	'	$10,759,375

Investment_in_Funds_Summary_of1

Investment in Funds - Summary of Net Investment Income (Loss), Total Trading Results and Net Income (Loss) (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	$3,919,637	$8,485,070	($6,296,281)	$14,127,068
Total trading results	4,022,091	9,651,046	-8,036,114	14,507,217
Net income (loss)	2,041,589	5,581,472	-12,465,607	6,920,433
Blackwater Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	737,893	-802,433	-850,700	-74,318
SECOR Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	1,763,118	'	591,261	'
Cambridge Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	163,364	1,053,997	230,349	1,742,675
Willowbridge Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	282,146	2,971,234	-143,816	3,719,220
300 North Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	897,482	1,299,541	-3,790,613	1,828,878
Principle Master Fund L.P. [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	75,634	25,004	-2,332,762	-162,743
Waypoint Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	-249,216	'	-99,501
PGR Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	1,521,041	'	4,161,235
JEM Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	1,019,734	'	103,351
Cirrus Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	1,646,168	'	2,908,271
Investment In Fund [Member] | Blackwater Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-24,208	-28,472	-47,346	-59,076
Total trading results	2,304,526	-2,035,898	-1,729,574	-83,964
Net income (loss)	2,280,318	-2,064,370	-1,776,920	-143,040
Investment In Fund [Member] | SECOR Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-119,891	'	-244,781	'
Total trading results	1,883,009	'	836,042	'
Net income (loss)	1,763,118	'	591,261	'
Investment In Fund [Member] | Cambridge Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-21,773	-8,654	-66,719	-28,417
Total trading results	176,599	1,880,968	332,674	3,201,019
Net income (loss)	154,826	1,872,314	265,955	3,172,602
Investment In Fund [Member] | Willowbridge Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-103,816	-131,517	-213,278	-240,793
Total trading results	1,170,549	10,840,412	-1,038,561	12,917,087
Net income (loss)	1,066,733	10,708,895	-1,251,839	12,676,294
Investment In Fund [Member] | 300 North Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-35,598	-30,206	-86,515	-38,395
Total trading results	933,080	1,329,747	-3,704,098	1,867,273
Net income (loss)	897,482	1,299,541	-3,790,613	1,828,878
Investment In Fund [Member] | Principle Master Fund L.P. [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	-57,858	-53,564	-110,344	-66,100
Total trading results	133,492	78,568	-2,222,418	-96,642
Net income (loss)	75,634	25,004	-2,332,762	-162,742
Investment In Fund [Member] | Waypoint Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	-32,298	'	-65,800
Total trading results	'	-533,681	'	-152,817
Net income (loss)	'	-565,979	'	-218,617
Investment In Fund [Member] | PGR Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	-54,085	'	-86,856
Total trading results	'	2,151,266	'	5,850,232
Net income (loss)	'	2,097,181	'	5,763,376
Investment In Fund [Member] | JEM Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	-348,433	'	-691,783
Total trading results	'	1,773,546	'	828,150
Net income (loss)	'	1,425,113	'	136,367
Investment In Fund [Member] | Cirrus Master [Member]	'	'	'	'
Investment In Funds Disclosure [Line Items]	'	'	'	'
Net Investment Income (Loss)	'	-50,395	'	-88,327
Total trading results	'	1,994,980	'	3,522,440
Net income (loss)	'	$1,944,585	'	$3,434,113

Investment_in_Funds_Summary_of2

Investment in Funds - Summary of Partnership's Investment and Operations of Funds (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	76.83%	'	76.83%	'	77.15%
Investment in Funds, at fair value	$98,426,826	'	$98,426,826	'	$123,486,175
Income (loss)	4,196,278	8,994,069	-5,696,242	15,100,602	'
Percentage of Partnership's Net Assets	76.83%	'	76.83%	'	77.15%
Clearing Fees and Brokerage Fees expenses	185,890	374,414	403,909	735,153	'
Investment in Funds, at fair value	98,426,826	'	98,426,826	'	123,486,175
Other	90,751	134,585	196,130	238,381	'
Net Investment Income (loss)	3,919,637	8,485,070	-6,296,281	14,127,068	'
Blackwater Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	8.38%	'	8.38%	'	15.14%
Investment in Funds, at fair value	10,702,354	'	10,702,354	'	24,550,063
Income (loss)	757,269	-773,557	-809,000	-8,535	'
Percentage of Partnership's Net Assets	8.38%	'	8.38%	'	15.14%
Clearing Fees and Brokerage Fees expenses	10,700	13,271	23,805	40,594	'
Investment in Funds, at fair value	10,702,354	'	10,702,354	'	24,550,063
Other	8,676	15,605	17,895	25,189	'
Net Investment Income (loss)	737,893	-802,433	-850,700	-74,318	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
SECOR Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	14.69%	'	14.69%	'	9.49%
Investment in Funds, at fair value	18,765,393	'	18,765,393	'	15,383,266
Income (loss)	1,883,719	'	838,113	'	'
Percentage of Partnership's Net Assets	14.69%	'	14.69%	'	9.49%
Clearing Fees and Brokerage Fees expenses	108,040	'	202,558	'	'
Investment in Funds, at fair value	18,765,393	'	18,765,393	'	15,383,266
Other	12,561	'	44,294	'	'
Net Investment Income (loss)	1,763,118	'	591,261	'	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Cambridge Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	18.19%	'	18.19%	'	16.17%
Investment in Funds, at fair value	23,244,008	'	23,244,008	'	26,222,525
Income (loss)	186,587	1,064,070	301,495	1,775,184	'
Percentage of Partnership's Net Assets	18.19%	'	18.19%	'	16.17%
Clearing Fees and Brokerage Fees expenses	'	'	30,867	'	'
Investment in Funds, at fair value	23,244,008	'	23,244,008	'	26,222,525
Other	23,223	10,073	40,279	32,509	'
Net Investment Income (loss)	163,364	1,053,997	230,349	1,742,675	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Willowbridge Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	9.33%	'	9.33%	'	8.86%
Investment in Funds, at fair value	11,918,145	'	11,918,145	'	14,357,559
Income (loss)	300,740	3,003,509	-105,141	3,795,615	'
Percentage of Partnership's Net Assets	9.33%	'	9.33%	'	8.86%
Clearing Fees and Brokerage Fees expenses	14,182	25,617	30,906	59,308	'
Investment in Funds, at fair value	11,918,145	'	11,918,145	'	14,357,559
Other	4,412	6,658	7,769	17,087	'
Net Investment Income (loss)	282,146	2,971,234	-143,816	3,719,220	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
300 North Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	16.03%	'	16.03%	'	15.04%
Investment in Funds, at fair value	20,474,262	'	20,474,262	'	24,373,736
Income (loss)	933,899	1,330,565	-3,701,369	1,868,836	'
Percentage of Partnership's Net Assets	16.03%	'	16.03%	'	15.04%
Clearing Fees and Brokerage Fees expenses	18,081	12,824	45,923	15,558	'
Investment in Funds, at fair value	20,474,262	'	20,474,262	'	24,373,736
Other	18,336	18,200	43,321	24,400	'
Net Investment Income (loss)	897,482	1,299,541	-3,790,613	1,828,878	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Principle Master Fund L.P. [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Percentage of Partnership's Net Assets	10.43%	'	10.43%	'	11.47%
Investment in Funds, at fair value	13,322,664	'	13,322,664	'	18,599,026
Income (loss)	134,064	79,255	-2,220,340	-95,561	'
Percentage of Partnership's Net Assets	10.43%	'	10.43%	'	11.47%
Clearing Fees and Brokerage Fees expenses	34,887	36,543	69,850	43,274	'
Investment in Funds, at fair value	13,322,664	'	13,322,664	'	18,599,026
Other	23,543	17,708	42,572	23,908	'
Net Investment Income (loss)	75,634	25,004	-2,332,762	-162,743	'
Investment Objective	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'Commodity Portfolio	'
Redemption Permitted	'Monthly	'Monthly	'Monthly	'Monthly	'
Waypoint Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Income (loss)	'	-234,595	'	-68,751	'
Clearing Fees and Brokerage Fees expenses	'	5,606	'	12,649	'
Other	'	9,015	'	18,101	'
Net Investment Income (loss)	'	-249,216	'	-99,501	'
Investment Objective	'	'Commodity Portfolio	'	'Commodity Portfolio	'
Redemption Permitted	'	'Monthly	'	'Monthly	'
PGR Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Income (loss)	'	1,563,929	'	4,236,141	'
Clearing Fees and Brokerage Fees expenses	'	16,156	'	35,005	'
Other	'	26,732	'	39,901	'
Net Investment Income (loss)	'	1,521,041	'	4,161,235	'
Investment Objective	'	'Commodity Portfolio	'	'Commodity Portfolio	'
Redemption Permitted	'	'Monthly	'	'Monthly	'
JEM Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Income (loss)	'	1,270,966	'	611,151	'
Clearing Fees and Brokerage Fees expenses	'	239,546	'	484,294	'
Other	'	11,686	'	23,506	'
Net Investment Income (loss)	'	1,019,734	'	103,351	'
Investment Objective	'	'Commodity Portfolio	'	'Commodity Portfolio	'
Redemption Permitted	'	'Monthly	'	'Monthly	'
Cirrus Master [Member]	'	'	'	'	'
Investment Holdings [Line Items]	'	'	'	'	'
Income (loss)	'	1,689,927	'	2,986,522	'
Clearing Fees and Brokerage Fees expenses	'	24,851	'	44,471	'
Other	'	18,908	'	33,780	'
Net Investment Income (loss)	'	$1,646,168	'	$2,908,271	'
Investment Objective	'	'Energy Markets	'	'Energy Markets	'
Redemption Permitted	'	'Monthly	'	'Monthly	'

Financial_Instrument_Risks_Add

Financial Instrument Risks - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]	'
General Partner OTC minimum	44.70%
General Partner OTC maximum	61.70%
Maturity on financial instruments	'1 year

Critical_Accounting_Policies_A

Critical Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Line Items]	'
Income tax examination, description	'No income tax returns are currently under examination. The 2010 through 2013 tax years remain subject to examination by U.S. federal and most state tax authorities.