Emerging Cta Portfolio 10-K 28 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	CTA
Entity Registrant Name	EMERGING CTA PORTFOLIO LP
Entity Central Index Key	1,269,190
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		67,535.5262
Entity Public Float			$ 99,888,982

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets:
Investment in Funds, at fair value (Note 6)	$ 62,285,375	$ 93,426,730
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $11,248,961 and $0 at December 31, 2015 and 2014, respectively)	62,285,375	93,426,730
Cash (Note 3c)	15,654,546	25,786,501
Cash margin (Note 3c)	8,133,817
Net unrealized appreciation on open futures contracts	146,134
Total equity in trading account	35,183,085	25,786,501
Interest receivable (Note 3c)	2,130	152
Total assets	97,470,590	119,213,383
Liabilities:
Net unrealized depreciation on open forward contracts	678,352
Accrued expenses:
Ongoing selling agent fees (Note 3c)	161,320	198,685
Management fees (Note 3b)	127,306	151,108
General Partner fees (Note 3a)	80,498	99,297
Incentive fees (Notes 3a and 3b)		2,102,114
Clearing fees due to MS&Co. (Note 3c)		2,151
Professional fees	194,123	54,096
Redemptions payable to Limited Partners (Note 7)	1,900,350	1,977,940
Total liabilities	3,141,949	4,585,391
Partners' Capital: (Notes 1 and 7)
Total partners' capital	94,328,641	114,627,992
Total liabilities and partners' capital	$ 97,470,590	$ 119,213,383
Net asset value per unit, Class A	$ 1,328.16	$ 1,354.30
Class A Redeemable Units [Member]
Partners' Capital: (Notes 1 and 7)
General Partner, Class A, 814.5646 and 942.3886 Redeemable Units outstanding at December 31, 2015 and 2014, respectively	$ 1,081,872	$ 1,276,279
Limited Partners, Class A, 70,207.4852 and 83,697.5332 Redeemable Units at December 31, 2015 and 2014, respectively	$ 93,246,769	$ 113,351,713
Net asset value per unit, Class A	$ 1,328.16	$ 1,354.30
U.S. Treasury Bills [Member]
Assets:
Investment in Funds, at fair value (Note 6)	$ 11,248,588
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $11,248,961 and $0 at December 31, 2015 and 2014, respectively)	$ 11,248,588

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
U.S. Treasury Bills [Member]
Investment in U.S. Treasury bills, Amortized cost	$ 11,248,961	$ 0
Class A Redeemable Units [Member]
General Partner Class A Capital, units outstanding	814.5646	942.3886
Limited Partner Capital Account Redeemable Unit outstanding	70,207.4852	83,697.5332

Condensed Schedule of Investmen

Condensed Schedule of Investments		Dec. 31, 2015USD ($)Contract	Dec. 31, 2014USD ($)
Total Investment in Funds		$ 62,285,375	$ 93,426,730
Net fair value		73,001,745	$ 93,426,730
Unrealized Appreciation on Open Forward Contracts		146,134
Unrealized Depreciation on Open Forward Contracts		$ (678,352)
% of Partners' Capital		77.38%	81.50%
Forward Contracts [Member]
Unrealized Appreciation on Open Forward Contracts		$ 422,969
Unrealized Depreciation on Open Forward Contracts		(1,101,321)
Net unrealized appreciation (depreciation) on open contracts		$ (678,352)
Percentage of Partners' Capital		0.45%
Percentage of Partners' Capital		(1.17%)
% of Partners' Capital		(0.72%)
Currencies [Member] | Forward Contracts [Member]
Unrealized Appreciation on Open Forward Contracts		$ 422,969
Notional Amount		8,038,416
Unrealized Depreciation on Open Forward Contracts		$ (1,101,321)
Percentage of Partners' Capital		0.45%
Percentage of Partners' Capital		(1.17%)
Notional Amount		$ 43,159,674
Limited Partners [Member]
Total Investment in Funds		$ 62,285,375	$ 93,426,730
% of Partners' Capital		66.02%	81.50%
Limited Partners [Member] | Blackwater Master Fund L.P. [Member]
Total Investment in Funds			$ 3,980,034
% of Partners' Capital			3.47%
Limited Partners [Member] | SECOR Master Fund L.P. [Member]
Total Investment in Funds		$ 22,981,374	$ 29,604,763
% of Partners' Capital		24.36%	25.83%
Limited Partners [Member] | Cambridge Master Fund L.P. [Member]
Total Investment in Funds		$ 24,376,553	$ 26,708,570
% of Partners' Capital		25.84%	23.30%
Limited Partners [Member] | CMF Willowbridge Master Fund L.P. [Member]
Total Investment in Funds		$ 14,927,448	$ 12,341,418
% of Partners' Capital		15.82%	10.76%
Limited Partners [Member] | PGM Master Fund L.P. [Member]
Total Investment in Funds			$ 20,791,945
% of Partners' Capital			18.14%
Futures Contracts [Member]
Net unrealized appreciation (depreciation) on open contracts		$ 146,134
% of Partners' Capital		0.15%
Futures Contracts [Member] | Long [Member]
Net unrealized appreciation (depreciation) on open contracts		$ (271,413)
% of Partners' Capital		(0.29%)
Futures Contracts [Member] | Long [Member] | Indices [Member]
Number of Contracts | Contract		296
Net unrealized appreciation (depreciation) on open contracts		$ 336,594
% of Partners' Capital		0.36%
Futures Contracts [Member] | Long [Member] | Interest Rates U.S. [Member]
Number of Contracts | Contract		466
Net unrealized appreciation (depreciation) on open contracts		$ (157,655)
% of Partners' Capital		(0.17%)
Futures Contracts [Member] | Long [Member] | Interest Rates Non-U.S. [Member]
Number of Contracts | Contract		2,635
Net unrealized appreciation (depreciation) on open contracts		$ (450,352)
% of Partners' Capital		(0.48%)
Futures Contracts [Member] | Short [Member]
Net unrealized appreciation (depreciation) on open contracts		$ 417,547
% of Partners' Capital		0.44%
Futures Contracts [Member] | Short [Member] | Indices [Member]
Number of Contracts | Contract		446
Net unrealized appreciation (depreciation) on open contracts		$ (89,279)
% of Partners' Capital		(0.09%)
Futures Contracts [Member] | Short [Member] | Interest Rates U.S. [Member]
Number of Contracts | Contract		732
Net unrealized appreciation (depreciation) on open contracts		$ 339,849
% of Partners' Capital		0.36%
Futures Contracts [Member] | Short [Member] | Interest Rates Non-U.S. [Member]
Number of Contracts | Contract		1,796
Net unrealized appreciation (depreciation) on open contracts		$ 204,572
% of Partners' Capital		0.22%
Futures Contracts [Member] | Short [Member] | Energy [Member]
Number of Contracts | Contract		86
Net unrealized appreciation (depreciation) on open contracts		$ 3,720
% of Partners' Capital	[1]	0.00%
Futures Contracts [Member] | Short [Member] | Grains [Member]
Number of Contracts | Contract		53
Net unrealized appreciation (depreciation) on open contracts		$ 29,813
% of Partners' Capital		0.03%
Futures Contracts [Member] | Short [Member] | Metals [Member]
Number of Contracts | Contract		101
Net unrealized appreciation (depreciation) on open contracts		$ (71,128)
% of Partners' Capital		(0.08%)
U.S. Government Securities [Member]
Total Investment in Funds		$ 11,248,588
% of Partners' Capital		11.93%
U.S. Government Securities [Member] | U.S. Treasury bills, 0.19% [Member]
Total Investment in Funds		$ 4,249,721
% of Partners' Capital		4.51%
U.S. Government Securities [Member] | U.S. Treasury bills, 0.015% [Member]
Total Investment in Funds		$ 6,998,867
% of Partners' Capital		7.42%
[1]	Due to rounding.

Condensed Schedule of Investme5

Condensed Schedule of Investments (Parenthetical) - U.S. Government Securities [Member]	12 Months Ended
	Dec. 31, 2015USD ($)
U.S. Treasury bills, 0.19% [Member]
Investment in U.S. Treasury bills, Amortized cost	$ 4,249,372
Investment, interest rate	0.19%
Face Amount	$ 4,250,000
Maturity Date	Jan. 21, 2016
U.S. Treasury bills, 0.015% [Member]
Investment in U.S. Treasury bills, Amortized cost	$ 6,999,589
Investment, interest rate	0.015%
Face Amount	$ 7,000,000
Maturity Date	Mar. 3, 2016

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment Income:
Interest income		$ 6,310	$ 4,974	$ 9,127
Interest income allocated from Funds		17,874	20,279	56,478
Total investment income		24,184	25,253	65,605
Expenses:
Expenses allocated from Funds		687,310	1,341,161	1,809,246
Clearing fees related to direct investments (Note 3c)		267,311	263,588	252,007
Ongoing selling agent fees (Note 3c)		2,136,380	3,515,582	6,341,028
Management fees (Note 3b)		1,641,891	1,855,333	2,553,156
General Partner fees (Note 3a)		1,066,606	801,411	902,492
Incentive fees (Notes 3a and 3b)		1,434,431	2,640,529	1,383,573
Professional fees		494,726	441,355	331,783
Total expenses		7,728,655	10,858,959	13,573,285
Net investment loss		(7,704,471)	(10,833,706)	(13,507,680)
Net gains (losses) on trading of commodity interests and investment in Funds:
Net realized gains (losses) on closed contracts		(1,395,459)	(1,754,863)	(2,077,402)
Net realized gains (losses) on closed contracts allocated from Funds		11,611,019	11,179,959	14,218,357
Net change in unrealized gains (losses) on open contracts		76,492	(734,504)	640,174
Net change in unrealized gains (losses) on open contracts allocated from Funds		(4,496,249)	(1,394,812)	(595,800)
Total trading results		5,795,803	7,295,780	12,185,329
Net income (loss)		$ (1,908,668)	$ (3,537,926)	$ (1,322,351)
Net income (loss) per Redeemable Unit, Class A (Note 8)*	[1]	$ (26.14)	$ 3.90	$ (9.41)
Weighted average Class A Redeemable Units outstanding		78,310.5220	103,762.9323	132,268.9604
[1]	Represents the change in net asset value per Redeemable Unit.

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	Class A Redeemable Units [Member]	Limited Partners [Member]	General Partner [Member]
Net asset value per unit	$ 1,359.81
Partners' Capital at Dec. 31, 2012	$ 188,151,946		$ 185,900,134	$ 2,251,812
Net income (loss)	(1,322,351)		(1,314,360)	(7,991)
Subscriptions of Redeemable Units, value	19,089,652		19,089,652
Redemptions of Redeemable Units, value	(43,797,559)		(43,596,860)	(200,699)
Partners' Capital at Dec. 31, 2013	$ 162,121,688		160,078,566	2,043,122
Net asset value per unit	$ 1,350.40	$ 1,350.40
Net income (loss)	$ (3,537,926)		(3,473,702)	(64,224)
Subscriptions of Redeemable Units, value	7,249,416		7,249,416
Redemptions of Redeemable Units, value	(51,205,186)		(50,502,567)	(702,619)
Partners' Capital at Dec. 31, 2014	$ 114,627,992		113,351,713	1,276,279
Net asset value per unit	$ 1,354.30	1,354.30
Net income (loss)	$ (1,908,668)		(1,890,155)	(18,513)
Subscriptions of Redeemable Units, value	3,429,167		3,429,167
Redemptions of Redeemable Units, value	(21,819,850)		(21,643,956)	(175,894)
Partners' Capital at Dec. 31, 2015	$ 94,328,641		$ 93,246,769	$ 1,081,872
Net asset value per unit	$ 1,328.16	$ 1,328.16

Statements of Changes in Partn8

Statements of Changes in Partners' Capital (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subscriptions of Redeemable Units	2,514.3600	5,734.0090	14,027.6290
Redemptions of Redeemable Units	16,004.4080	40,577.9470	32,196.4880
General Partner [Member]
Redemptions of Redeemable Units	127.8240	570.5870	143

Partnership Organization

Partnership Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Partnership Organization	1. Partnership Organization: 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 or established advisors employing early-stage strategies, which engage, directly and indirectly through investments in the Funds (defined in Note 6, “Investment in Funds”), in speculative trading of a diversified portfolio of commodity interests, including futures, options on futures, forward, options on forward, 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 directly and through its investments in the Funds 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 commodity interests that are traded by the Partnership and the Funds are volatile and involve a high degree of market risk. The General Partner may also determine to invest up to all of the Partnership’s assets in United States (“U.S.”) Treasury bills and/or money market mutual funds, including money market mutual funds managed by Morgan Stanley or its affiliates. Between December 1, 2003 (commencement of the offering period) and August 5, 2004, 20,872 units of 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 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. During the years ended December 31, 2015 and 2014, the Partnership’s/Funds’ commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. During a prior period included in this report, Citigroup Global Markets Inc. (“CGM”) also served as a commodity broker. As of September 1, 2011, the Partnership began offering three classes of limited partnership interests: Class A Redeemable Units, Class D Redeemable Units and Class Z Redeemable Units; each of which 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 Redeemable Units.” The rights, liabilities, risks, and fees associated with investment in the Class A Redeemable Units were not changed. Class A Redeemable Units and Class D Redeemable Units are available to taxable U.S. individuals and institutions, as well as U.S. tax exempt individuals and institutions. Class Z Redeemable Units are offered to certain employees of Morgan Stanley and its subsidiaries (and their family members). The Class of Redeemable 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 a particular Class of Redeemable Units to investors at its discretion. As of December 31, 2015 and 2014, there were no Redeemable Units outstanding in Class D or Class Z. 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. As of December 31, 2015, The Cambridge Strategy (Asset Management) Limited (“Cambridge”), Centurion Investment Management, LLC (“Centurion”), Perella Weinberg Partners Capital Management LP (“Perella”), SECOR Capital Advisors, LP (“SECOR”) and Willowbridge Associates Inc. (“Willowbridge”) served as the Partnership’s major commodity trading advisors. In addition, the General Partner may allocate the Partnership’s assets to additional non-major trading advisors (i.e. commodity trading advisors 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 also 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, MS&Co. or CGM and are not responsible for the organization or operation of the Partnership. References herein to the “Advisors” may also include, as relevant, reference to 300 North Capital LLC (“300 North Capital”), Blackwater Capital Management, LLC (“Blackwater”), Cirrus Capital Management LLC (“Cirrus”), J E Moody & Company LLC (“JE Moody”), PGR Capital LLP (“PGR”), Principle Capital Management LLC (“Principle”) and Waypoint Capital Management LLC (“Waypoint”). The Partnership, directly and through its investment in the Funds, pays MS&Co. trading fees for the clearing and, where applicable, execution of transactions. 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 may be liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions and losses, if any. The Partnership will be liquidated upon the first to occur of the following: December 31, 2023; the net asset value per Redeemable Unit of limited partnership interest of any Class decreases to less than $400 as of the close of any business day; or under certain other circumstances as defined in the limited partnership agreement of the Partnership (the “Limited Partnership Agreement”). In addition, the General Partner may, in its sole discretion, cause the Partnership to be liquidated if the aggregate net assets of the Partnership decline to less than $1,000,000. In July 2015, the General Partner delegated certain administrative functions to SS&C Technologies, Inc., a Delaware corporation, currently doing business as SS&C GlobeOp (the “Administrator”). Pursuant to a master services agreement, the Administrator furnishes certain administrative, accounting, regulatory, reporting, tax and other services as agreed from time to time. In addition, the Administrator maintains certain books and records of the Partnership. The costs of retaining the Administrator will be allocated among the pools operated by the General Partner, including the Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies: a. Use of Estimates. b. Statement of Cash Flows. c. Partnership’s Investments in the Funds. . Partnership’s/Funds’ Derivative Investments. Partnership’s Cash: d. Income Taxes. e. Investment Company Status. “Financial Services— Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” f. Net Income (Loss) per Redeemable Unit. g. Fair Value of Financial Instruments “Financial Instruments,” h. Recent Accounting Pronouncements “Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent),” Further, the ASU removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using the practical expedient. The standard is effective for public business entities for fiscal years beginning after December 15, 2015. Early adoption is permitted. The Partnership has elected to adopt the guidance as of June 30, 2015. The adoption did not have any impact on the Partnership’s fair value measurement disclosures. In January 2016, the FASB issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities i. Reclassification In the financial highlights table, ongoing selling agent fees and clearing fees, which were previously included in net realized and unrealized gains (losses) per Redeemable Unit and excluded from expenses per Redeemable Unit, are now excluded from net realized and unrealized gains (losses) per Redeemable Unit and included in net investment loss per Redeemable Unit. Interest income per Redeemable Unit and expenses per Redeemable Unit previously presented separately are now combined into net investment loss per Redeemable Unit. j. Subsequent Events.

Agreements

Agreements	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Agreements	3. Agreements: a. Limited Partnership Agreement: The General Partner administers the business and affairs of the Partnership, including selecting one or more advisors to make trading decisions for the Partnership. The Partnership pays the General Partner a monthly administrative fee (“General Partner fees”) (formerly, the administrative fees) equal to 1/12 of 1% (1.0% per year) of month-end Net Assets. Prior to October 1, 2014, the Partnership paid the General Partner a monthly administrative fee equal to 1/24 of 1% (0.5% per year) of month-end Net Assets. Month-end Net Assets, for the purpose of calculating General Partner fees, are Net Assets, as defined in the Limited Partnership Agreement, prior to the reduction of the current month’s ongoing selling agent fees, management fees, incentive fee accruals, the General Partner fee and any redemptions or distributions as of the end of such month. The Partnership will also pay the General Partner an incentive fee payable annually equal to 5% of the Partnership’s overall New Trading Profits, as defined in the Limited Partnership Agreement, earned in each calendar year. For the years ended December 31, 2015, 2014 and 2013, there were no incentive fees earned by the General Partner. b. Management Agreement: The General Partner, on behalf of the Partnership, entered into management agreements (each, a “Management Agreement”) with the Advisors, each of which is a registered commodity trading advisor. The Advisors are not affiliated with one another, are not affiliated with the General Partner, MS&Co. or CGM and are not responsible for the organization or operation of the Partnership. Effective January 1, 2016, SECOR receives a monthly management fee equal to 1.75% per year of month-end net assets allocated to SECOR. Prior to January 1, 2016, SECOR received a monthly management fee equal to 2.0% per year. Cambridge receives a monthly management fee equal to 1.5% per year of month-end net assets allocated to Cambridge. Willowbridge receives a monthly management fee equal to 1.5% per year of month-end net assets allocated to Willowbridge. Perella receives a monthly management fee equal to 1.5% per year of month-end net assets allocated to Perella. Effective January 1, 2016, Centurion receives a monthly management fee equal to 1.00% per year of month-end net assets allocated to Centurion. Prior to January 1, 2016, Centurion received a monthly management fee equal to 1.25% per year. Prior to December 1, 2013, Blackwater received a monthly management fee equal to 1.25% per year. From December 1, 2013 to its termination on September 30, 2015, Blackwater received a monthly management fee equal to 0.75% per year of month-end net assets allocated to Blackwater. Prior to its termination on July 31, 2014, Principle received a monthly management fee equal to 1.5% per year of month-end net assets allocated to Principle. Prior to its termination on October 31, 2014, 300 North Capital received a monthly management fee equal to 1.5% per year of month-end net assets allocated to 300 North Capital. Prior to its termination on November 30, 2013, Waypoint received a monthly management fee equal to 2.0% per year of month-end net assets allocated to Waypoint. Prior to its termination on December 31, 2013, PGR received a monthly management fee equal to 1.0% per year of month-end net assets allocated to PGR. Prior to its termination on October 31, 2013, JE Moody received a monthly management fee equal to 2.0% per year of month-end net assets allocated to JE Moody. Prior to its termination on August 31, 2013, Cirrus received a monthly management fee equal to 2.0% per year of month-end net assets allocated to Cirrus. Month-end Net Assets, for the purpose of calculating management fees are Net Assets, as defined in the Limited Partnership Agreement, prior to the reduction of the current month’s management fees, incentive fee accruals, the General Partner fee, ongoing selling agent fee and any redemptions or distributions as of the end of such month. Each Management Agreement may be terminated upon notice by either party. In addition, the Partnership is obligated to pay each Advisor an incentive fee, payable quarterly, equal to 20% for Centurion, Perella, SECOR and Willowbridge, and equal to 15% for Cambridge, of New Trading Profits, as defined in each Management Agreement, earned by each Advisor for the Partnership during each calendar quarter. Prior to its termination on September 30, 2015, Blackwater was eligible to receive an incentive fee, payable quarterly, equal to 20% of New Trading Profits, as defined in its Management Agreement with the General Partner, earned by Blackwater for the Partnership during each calendar quarter. Prior to its termination on July 31, 2014, Principle was eligible to receive an incentive fee, payable quarterly, equal to 17.5% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by Principle for the Partnership during each calendar quarter. Prior to its termination on October 31, 2014, 300 North Capital was eligible to receive an incentive fee, payable quarterly, equal to 17.5% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by 300 North Capital for the Partnership during each calendar quarter. Prior to its termination on November 30, 2013, Waypoint was eligible to receive an incentive fee, payable quarterly, equal to 17% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by Waypoint for the Partnership during each calendar quarter. Prior to its termination on December 31, 2013, PGR was eligible to receive an incentive fee, payable quarterly, equal to 20% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by PGR for the Partnership during each calendar quarter. Prior to its termination on October 31, 2013, JE Moody was eligible to receive an incentive fee, payable quarterly, equal to 20% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by JE Moody for the Partnership during each calendar quarter. Prior to its termination on August 31, 2013, Cirrus was eligible to receive an incentive fee, payable quarterly, equal to 20% of the New Trading Profits, as defined in its Management Agreement with the General Partner, earned by Cirrus for the Partnership during each calendar quarter. To the extent an Advisor incurs a loss for the Partnership, the Advisor will not receive an incentive fee until the Advisor recovers the net loss incurred and earns additional trading profits for the Partnership. In allocating the assets of the Partnership among the Advisors, the General Partner conducts proprietary research and considers, among other things, the background of the Advisors’ principals, as well as the Advisors’ trading styles, strategies and markets traded, expected volatility, trading results (to the extent available) and fee requirements. The General Partner may modify or terminate the allocation of assets among the Advisors and may allocate assets to additional advisors at any time. c. Customer Agreement/Selling Agent Agreement: Prior to and during part of the third quarter of 2013, the Partnership was party to a Customer Agreement with CGM (the “CGM Customer Agreement”). During the third quarter of 2013, the Partnership entered into a Customer Agreement with MS&Co. (the “MS&Co. Customer Agreement”) and during the fourth quarter of 2013, the Partnership entered into a Selling Agent Agreement with Morgan Stanley Wealth Management (the “Selling Agreement”). The Partnership has terminated the CGM Customer Agreement. Under the CGM Customer Agreement, the Partnership paid CGM a monthly brokerage fee equal to 7/24 of 1% (3.5% per year) of month-end net assets, in lieu of brokerage fees on a per trade basis. Month-end Net Assets, for the purpose of calculating brokerage fees were Net Assets, as defined in the Limited Partnership Agreement, prior to the reduction of the current month’s brokerage fees, incentive fee accruals, the monthly management fees, the General Partner fee and other expenses and any redemptions or distributions as of the end of such month. The Partnership paid for exchange, service, clearing, user, give-up, floor brokerage and National Futures Association (“NFA”) fees (collectively, the “CGM clearing fees”) directly and through its investment in the Funds. CGM clearing fees were allocated to the Partnership based on its proportionate share of each Fund. During the term of the CGM Customer Agreement, all of the Partnership’s assets that were not held in the Funds’ accounts at CGM were deposited in the Partnership’s account at CGM. The Partnership’s cash was deposited by CGM in segregated bank accounts to the extent required by Commodity Futures Trading Commission regulations. CGM paid the Partnership interest on 100% of the average daily equity maintained in cash in the Partnership’s (or the Partnership’s allocable portion of a Fund’s) brokerage account at a 30-day U.S. Treasury bill rate determined weekly by CGM based on the average non-competitive yield on 3-month U.S. Treasury bills maturing 30 days from the date on which such weekly rate is determined. Under the MS&Co. Customer Agreement and the foreign exchange brokerage account agreement (described in Note 4, “Trading Activities”), the Partnership pays trading fees for the clearing and, where applicable, execution of transactions, as well as exchange, clearing, user, give-up, floor brokerage and NFA fees (collectively, the “MS&Co. clearing fees” and together with the CGM clearing fees, the “clearing fees”) directly and indirectly through its investment in the Funds. MS&Co. clearing fees are allocated to the Partnership based on its proportionate share of each Fund. Clearing fees will be paid for the life of the Partnership, although the rate at which such fees are paid may be changed. All of the Partnership’s assets not held in the Funds’ accounts at MS&Co. are deposited in the Partnership’s account at MS&Co. The Partnership’s cash is deposited by MS&Co. in segregated bank accounts to the extent required by Commodity Futures Trading Commission regulations. At December 31, 2015 and 2014, the amount of cash held for margin requirements was $8,133,817 and $0, respectively. MS&Co. has agreed to pay the Partnership interest on 100% of the average daily equity maintained in cash in the Partnership’s (or the Partnership’s allocable portion of a Fund’s) brokerage account at the rate equal to the monthly average of the 4-Week U.S. Treasury bill discount rate. The Customer Agreement may generally be terminated upon notice by either party. Under the Selling Agreement with Morgan Stanley Wealth Management, the Partnership pays Morgan Stanley Wealth Management a monthly ongoing selling agent fee. Prior to April 1, 2014, this monthly ongoing selling agent fee was equal to (i) 7/24 of 1% (3.5% per year) of month-end Net Assets for Class A Redeemable Units, (ii) 5/48 of 1% (1.25% per year) of month-end Net Assets for Class D Redeemable Units and (iii) 1/24 of 1% (0.50% per year) of month-end Net Assets for Class Z Redeemable Units. Effective April 1, 2014, the monthly ongoing selling agent fee was reduced to 5/24 of 1% (2.5% per year) for Class A Redeemable Units. Effective October 1, 2014, the monthly ongoing selling agent fee was (i) reduced to 4/24 of 1% (2.0% per year) for Class A Redeemable Units, (ii) reduced to 3/48 of 1% (0.75% per year) for Class D Redeemable Units and (iii) eliminated for Class Z Redeemable Units. Morgan Stanley Wealth Management pays a portion of its ongoing selling agent fees to properly registered or exempted financial advisors who have sold Redeemable Units. Month-end Net Assets, for the purpose of calculating ongoing selling agent fees are Net Assets, as defined in the Limited Partnership Agreement, prior to the reduction of the current month’s ongoing selling agent fees, incentive fee accruals, the monthly management fees, the General Partner fee and other expenses and any redemptions or distributions as of the end of such month. The General Partner fees, management fees, incentive fees and all other expenses are allocated proportionally to each Class based on the net asset value of each Class.

Trading Activities

Trading Activities	12 Months Ended
	Dec. 31, 2015
Brokers and Dealers [Abstract]
Trading Activities	4. Trading Activities: The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity interests. The results of the Partnership’s trading activities are shown in the Statements of Income and Expenses. During the second quarter of 2013, Cambridge Master Fund L.P (“Cambridge Master”) entered into a foreign exchange brokerage account agreement with MS&Co. and commenced foreign exchange trading through an account at MS&Co. on or about May 1, 2013. During the third quarter of 2013, Willowbridge Master and Cambridge Master entered into a futures brokerage account agreement with MS&Co. Willowbridge Master and Cambridge Master commenced futures trading through accounts at MS&Co. on or about July 29, 2013 and September 1, 2013, respectively. SECOR Master Fund L.P (“SECOR Master”) continues to be a party to a futures brokerage account agreement with MS&Co. During the fourth quarter of 2013 (and until its liquidation on September 30, 2015), Blackwater Master Fund L.P. (“Blackwater Master”) entered into a futures brokerage account agreement with MS&Co. and commenced trading through accounts at MS&Co. on or about October 3, 2013. During the third quarter of 2014 (and until its liquidation on June 30, 2015), PGM Master Fund L.P. (“PGM Master”) entered into a futures brokerage account agreement and a foreign exchange brokerage account agreement with MS&Co. and commenced trading through accounts at MS&Co. on or about September 1, 2014. Since July 1, 2015, the assets allocated to Perella have been traded directly pursuant to a variation of the program traded by PWP Global Macro Master Fund L.P. The assets allocated to Centurion are traded directly pursuant to Centurion’s Short Term Systematic Strategy Program. The MS&Co. Customer Agreement with the Partnership and the Funds gives, and the CGM Customer Agreement with the Partnership and the Customer Agreements between the Funds and CGM each gave, the Partnership and the Funds, respectively, the legal right to net unrealized gains and losses on open futures and forward contracts in the Statements of Financial Condition. The Partnership and the Funds net, for financial reporting purposes, the unrealized gains and losses on open futures and open forward contracts in the Statements of Financial Condition as the criteria under ASC 210-20, “ Balance Sheet All of the commodity interests owned directly by the Partnership are held for trading purposes. The monthly average number of futures contracts traded directly by the Partnership during the years ended December 31, 2015 and 2014 were 2,882 and 441, respectively. The monthly average number of option contracts traded directly by the Partnership during the years ended December 31, 2015 and 2014 were 100 and 1,240, respectively. The monthly average notional values of currency forward contracts held directly by the Partnership during the years ended December 31, 2015 and 2014 were $21,771,991 and $59,919,192, 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 percentage ownership of each respective Fund. The following table summarizes the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting or similar arrangements as of December 31, 2015. There were no direct investments as of December 31, 2014. Gross Gross the Statements Amounts Gross Amounts Not Offset in Statements of Financial Condition Net Amount December 31, 2015 Financial Cash Assets Futures $ 1,789,359 $ (1,643,225 ) $ 146,134 $ — $ — $ 146,134 Forwards 422,969 (422,969 ) — — — — Total assets $ 2,212,328 $ (2,066,194 ) $ 146,134 $ — $ — $ 146,134 Liabilities Futures $ (1,643,225 ) $ 1,643,225 $ — $ — $ — $ — Forwards (1,101,321 ) 422,969 (678,352 ) — — (678,352 ) Total liabilities $ (2,744,546 ) $ 2,066,194 $ (678,352 ) $ — $ — $ (678,352 ) Net Fair Value $ (532,218 )* * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s off-exchange-traded contracts, as applicable, has the right to offset the Partnership’s obligation with the Partnership’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Partnership is exposed to the amount shown in the Statements of Financial Condition. In the case of exchange-traded contracts, the Partnership’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default. The following table indicates the gross fair values of derivative instruments of futures and forward contracts held directly by the Partnership as separate assets and liabilities as of December 31, 2015. There were no direct investments as of December 31, 2014. December 31, Assets Futures Contracts Energy $ 3,720 Grains 29,813 Indices 793,699 Interest Rates U.S. 339,849 Interest Rates Non-U.S. 607,581 Metals 14,697 Total unrealized appreciation on open futures contracts 1,789,359 Liabilities Futures Contracts Indices (546,384 ) Interest Rates U.S. (157,655 ) Interest Rates Non-U.S. (853,361 ) Metals (85,825 ) Total unrealized depreciation on open futures contracts (1,643,225 ) Net unrealized appreciation on open futures contracts $ 146,134 * Assets Forward Contracts Currencies $ 422,969 Total unrealized appreciation on open forward contracts 422,969 Liabilities Forward Contracts Currencies (1,101,321 ) Total unrealized depreciation on open forward contracts (1,101,321 ) Net unrealized depreciation on open forward contracts $ (678,352 )** * This amount is included in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. ** This amount is included in “Net unrealized depreciation on open forward contracts” in the Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the years ended December 31, 2015, 2014 and 2013. Sector 2015 2014 2013 Currencies $ (658,713 ) $ 274,097 $ 2,165,089 Energy (274,934) (1,826,652 ) 225,138 Grains (36,678) 180,065 289,656 Indices (912,299) (843,355 ) (2,209,907 ) Interest Rates U.S. 321,210 333,522 (356,180 ) Interest Rates Non-U.S. 42,459 (695,562 ) (1,367,665 ) Livestock 2,079 (53,734 ) (35,540 ) Metals 222,360 182,099 (282,838 ) Softs (24,451) (39,847 ) 135,019 Total $ (1,318,967 )*** $ (2,489,367 )*** $ (1,437,228 )*** *** This amount is included in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Partnership’s and the Funds’ Fair Value Measurements. The fair value of exchange-traded futures, option and forward contracts is determined by the various futures exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as inputs the spot prices, interest rates, and option implied volatilities quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period. U.S. Treasury bills are valued at the last available bid price received from independent pricing services as of the close of the last business day of the reporting period. The Partnership and the Funds consider prices for exchange-traded commodity futures, forward, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of the U.S. Treasury bills, non-exchange-traded forward, swap and certain option contracts for which market quotations are not readily available are priced by broker quotes or pricing services that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the years ended December 31, 2015 and 2014, the Partnership and the Funds did not hold any derivative instruments that were priced at fair value using unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). Transfers between levels are recognized at the end of the reporting period. During the years ended December 31, 2015 and 2014, there were no transfers of assets or liabilities between Level 1 and Level 2. There were no direct investments as of December 31, 2014. December 31, 2015 Total Level 1 Level 2 Level 3 Assets Futures $ 1,789,359 $ 1,789,359 $ — $ — Forwards 422,969 — 422,969 — U.S. Treasury Bills 11,248,588 — 11,248,588 — Total assets $ 13,460,916 $ 1,789,359 $ 11,671,557 $ — Liabilities Futures $ 1,643,225 $ 1,643,225 $ — $ — Forwards 1,101,321 — 1,101,321 — Total liabilities $ 2,744,546 $ 1,643,225 $ 1,101,321 $ — Net fair value $ 10,716,370 $ 146,134 $ 10,570,236 $ —

Investment in Funds

Investment in Funds	12 Months Ended
	Dec. 31, 2015
Schedule of Investments [Abstract]
Investment in Funds	6. Investment in Funds: On March 1, 2010, the assets allocated to Waypoint for trading were invested in 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. The Partnership fully redeemed its investment in Waypoint Master on November 30, 2013 for cash equal to $4,378,673. On November 1, 2010, the assets allocated to 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. The Partnership fully redeemed its investment in PGR Master on December 31, 2013 for cash equal to $14,986,312. On November 1, 2010, the assets allocated to Blackwater for trading were invested in 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. Effective September 30, 2015, the Partnership fully redeemed its investment in Blackwater Master for cash equal to $2,233,594. On January 1, 2011, the assets allocated to JE 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. The Partnership fully redeemed its investment in JEM Master on October 31, 2013 for cash equal to $4,400,957. On January 1, 2011, the assets allocated to 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. The Partnership fully redeemed its investment in Cirrus Master on August 31, 2013 for cash equal to $9,645,872. On September 1, 2012, the assets allocated to Cambridge for trading were invested in Cambridge Master, a limited partnership organized under the partnership laws of the State of Delaware. The Partnership 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 promotes efficiency and economy in the trading process. The General Partner and Cambridge agreed that Cambridge will trade the Partnership’s assets allocated to Cambridge at a level that is up to 1.5 times the amount of assets allocated. The amount of leverage may be increased or decreased in the future. However, in no event will the amount of leverage be greater than 2 times the amount of assets allocated. Effective January 1, 2013, the assets traded directly by Willowbridge using its wPraxis Futures Trading Approach were invested in 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 promotes 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 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. The Partnership fully redeemed its investment in Principle Master on July 31, 2014 for cash equal to $12,165,827. On March 1, 2013, the assets allocated to 300 North Capital for trading were invested in 300 North Master 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. The Partnership fully redeemed its investment in 300 North Master on October 31, 2014 for cash equal to $12,374,970. On August 1, 2013, the assets allocated to SECOR for trading were invested in 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 are permitted to be limited partners of SECOR Master. The General Partner and SECOR believe that trading through this structure promotes 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. On September 1, 2014, the assets allocated to Perella for trading were invested in PGM Master, a limited partnership organized under the partnership laws of the State of Delaware. The Partnership invested in PGM Master with cash equal to $10,500,000. Effective June 30, 2015, the Partnership fully redeemed its investment in PGM Master for cash equal to $21,222,368 and open commodity futures and forward contracts with a fair value of $(608,710). The Partnership also assumed PGM Master’s liabilities totaling $82,054 in the same transaction. Since July 1, 2015, Perella has traded the assets allocated to it directly in a managed account in the Partnership’s name. The General Partner is not aware of any material changes to any of the trading programs discussed above during the year ended December 31, 2015. Cambridge Master’s, Willowbridge Master’s and SECOR Master’s (collectively, the “Funds”) and the Partnership’s trading of futures, forward, swap and option contracts, as applicable, on commodities is done primarily on United States of America commodity exchanges and foreign commodity exchanges. During the years ended December 31, 2015 and 2014, the Funds and the Partnership engaged in such trading through commodity brokerage accounts maintained with MS&Co. During a prior period included in this report, the Funds also engaged in such trading through commodity brokerage accounts maintained with CGM. References herein to “Funds” may also include as relevant, reference to Waypoint Master, PGR Master, Blackwater Master, JEM Master, Cirrus Master, Principle Master, 300 North Master and PGM Master. Generally, a limited partner in the Funds withdraws all or part of its capital contribution and undistributed profits, if any, from the Funds as of the end of any month (the “Redemption Date”) after a request has been made to the General Partner 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. However, a limited partner may request a withdrawal as of the end of any day if such request is received by the General Partner at least three days in advance of the proposed withdrawal day. Management, General Partner and incentive fees are charged at the Partnership level. All clearing fees are borne by the Partnership directly or by the Funds and allocated to the Funds’ limited partners, including the Partnership. Professional fees and other expenses are borne by the Funds and allocated to the Partnership, and also charged directly at the Partnership level. All other fees are charged at the Partnership level. At December 31, 2015, the Partnership owned approximately 4.3% of Willowbridge Master, 45.5% of SECOR Master and 40.8% of Cambridge Master. At December 31, 2014, the Partnership owned approximately 16.0% of Blackwater Master, 3.9% of Willowbridge Master, 100% of SECOR Master, 68.5% of Cambridge Master and 100% of PGM 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: December 31, 2015 Total Assets Total Liabilities Total Partners’ SECOR Master $ 50,962,450 $ 464,928 $ 50,497,522 Cambridge Master 59,992,404 282,482 59,709,922 Willowbridge Master 366,002,932 17,302,983 348,699,949 December 31, 2014 Total Assets Total Liabilities Total Partners’ Blackwater Master $ 24,973,305 $ 43,208 $ 24,930,097 SECOR Master 29,645,057 40,459 29,604,598 Cambridge Master 39,046,641 48,456 38,998,185 Willowbridge Master 332,179,217 16,638,854 315,540,363 PGM Master 20,831,040 39,214 20,791,826 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 year ended December 31, 2015 Net Investment Total Trading Net Income Blackwater Master $ (39,750 ) $ 87,198 $ 47,448 SECOR Master (396,486 ) 2,605,734 2,209,248 Cambridge Master (86,844 ) 9,062,618 8,975,774 Willowbridge Master (783,256 ) 6,652,400 5,869,144 PGM Master (136,430 ) (923,314 ) (1,059,744 ) For the year ended December 31, 2014 Net Investment Total Trading Net Income Blackwater Master $ (72,105 ) $ (545,462 ) $ (617,567 ) SECOR Master (577,318 ) 8,025,301 7,447,983 Cambridge Master (154,743 ) 9,610,031 9,455,288 Willowbridge Master (688,357 ) 46,239,150 45,550,793 300 North Master (164,457 ) (6,518,120 ) (6,682,577 ) Principle Master (184,996 ) (3,248,158 ) (3,433,154 ) PGM Master (110,539 ) 2,568,225 2,457,686 Summarized information reflecting the Partnership’s investments in, and the operations of the Funds is shown in the following tables: December 31, 2015 For the year ended December 31, 2015 Funds % of Fair Value Income (Loss) Expenses Net Income (Loss) Investment Redemptions Clearing Fees Other Blackwater Master(a) 0.00 % $ — $ 73,712 $ 3,762 $ 10,276 $ 59,674 Commodity Monthly SECOR Master 24.36 % 22,981,374 1,756,788 355,955 52,990 1,347,843 Commodity Monthly Cambridge Master 25.84 % 24,376,553 5,950,194 42,672 56,721 5,850,801 Commodity Monthly Willowbridge Master 15.82 % 14,927,448 274,436 24,974 2,702 246,760 Commodity Monthly PGM Master(b) 0.00 % — (922,486) 75,206 62,052 (1,059,744) Commodity Monthly Total $ 62,285,375 $ 7,132,644 $ 502,569 $ 184,741 $ 6,445,334 December 31, 2014 For the year ended December 31, 2014 Funds % of Fair Value Income (Loss) Expenses Net Income (Loss) Investment Redemptions Clearing Fees Other Blackwater Master 3.47 % $ 3,980,034 $ (511,367) $ 29,823 $ 26,911 $ (568,101) Commodity Monthly SECOR Master 25.83 % 29,604,763 8,028,963 482,950 98,030 7,447,983 Commodity Monthly Cambridge Master 23.30 % 26,708,570 6,837,308 79,783 81,601 6,675,924 Commodity Monthly Willowbridge Master 10.76 % 12,341,418 2,642,271 62,215 13,551 2,566,505 Commodity Monthly 300 North Master(c) 0.00 % — (6,514,690) 64,451 103,436 (6,682,577) Commodity Monthly Principle Master(d) 0.00 % — (3,245,900) 85,947 101,307 (3,433,154) Commodity Monthly PGM Master 18.14 % 20,791,945 2,568,841 43,655 67,500 2,457,686 Commodity Monthly Total $ 93,426,730 $ 9,805,426 $ 848,824 $ 492,336 $ 8,464,266 (a) From January 1, 2015 through September 30, 2015, the date the Partnership fully redeemed its interest in Blackwater Master. (b) From January 1, 2015 through June 30, 2015, the date the Partnership fully redeemed its interest in PGM Master. (c) From January 1, 2014 through October 31, 2014, the date the Partnership fully redeemed its interest in 300 North Master. (d) From January 1, 2014 through July 31, 2014, the date the Partnership fully redeemed its interest in Principle Master.

Subscriptions, Distributions an

Subscriptions, Distributions and Redemptions	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Subscriptions, Distributions and Redemptions	7. Subscriptions, Distributions and Redemptions: Subscriptions are accepted monthly from investors who become Limited Partners on the first day of the month after their subscription is processed. Distributions of profits, if any, will be made at the sole discretion of the General Partner and at such times as the General Partner may decide. A Limited Partner may require the Partnership to redeem its Redeemable Units at their net asset value as of the end of each month on three business days’ notice to the General Partner. There is no fee charged to Limited Partners in connection with redemptions.

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Financial Highlights	8. Financial Highlights: Financial highlights for the Limited Partner class as a whole for the years ended December 31, 2015, 2014 and 2013 were as follows: Class A 2015 2014 2013 Net realized and unrealized gains (losses) $ 71.66 $ 112.59 $ 92.50 Net investment loss (97.80 ) (108.69 ) (101.91 ) Increase (decrease) for the year (26.14 ) 3.90 (9.41 ) Net asset value per unit, beginning of year 1,354.30 1,350.40 1,359.81 Net asset value per unit, end of year $ 1,328.16 $ 1,354.30 $ 1,350.40 Ratios to average net assets: Net investment loss 1 (7.4 )% (8.5 )% (7.6 )% Operating expenses 6.0 % 6.4 % 6.9 % Incentive fees 1.4 % 2.1 % 0.8 % Total expenses 7.4 % 8.5 % 7.7 % Total return: Total return before incentive fees (0.5 )% 2.4 % 0.1 % Incentive fees (1.4 )% (2.1 )% (0.8 )% Total return after incentive fees (1.9 )% 0.3 % (0.7 )% 1 Interest income less total expenses. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the year. Additionally, these ratios are calculated for the Limited Partner class using the Limited Partners’ share of income, expenses and average net assets of the Partnership and includes the income and expenses allocated from the Funds.

Financial Instrument Risks

Financial Instrument Risks	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Financial Instrument Risks	9. Financial Instrument Risks: In the normal course of business, the Partnership and the Funds are party to financial instruments with off-balance sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include futures, forwards, 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, or to purchase or sell other financial instruments at specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange, a swap execution facility or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, swap and option contracts. Certain swap contracts may also be traded on a swap execution facility or OTC. OTC contracts are negotiated between contracting parties and also include certain forward and option contracts. Each of these instruments is subject to various risks similar to those related to the underlying financial instruments, including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange-traded instruments because of the greater risk of default by the counterparty to an OTC contract. The General Partner estimates that at any given time approximately 23.7% to 68.9% of the Partnership’s/Funds’ contracts are traded OTC. Futures Contracts Forward Foreign Currency Contracts London Metals Exchange Forward Contracts Options The Partnership and the Funds do not isolate the portion of the results of operations arising from the effect of changes in foreign exchange rates on investments from fluctuations from changes in market prices of investments held. Such fluctuations are included in total trading results in the Partnership’s/Funds’ Statements of Income and Expenses. Market risk is the potential for changes in the value of the financial instruments traded by the Partnership/Funds due to market changes, including interest and foreign exchange rate movements and fluctuations in commodity or security prices. Market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are traded. The Partnership and the Funds are exposed to 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 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, as MS&Co. and/or CGM 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 was reduced to the extent that, through MS&Co. and/or CGM, the Partnership’s/Funds’ counterparty was an exchange or clearing organization. The Partnership/Funds continues 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, forward and option contracts by sector, margin requirements, gain and loss transactions and collateral positions. 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. The limited liability is a result of the organization of the Partnership as a limited partnership under New York law. The majority of these 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.

Basis of Presentation and Sum18

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	a. Use of Estimates.
Statement of Cash Flows	b. Statement of Cash Flows.
Partnership's Investments in the Funds	c. Partnership’s Investments in the Funds. .
Partnership's/Funds' Derivative Investments	Partnership’s/Funds’ Derivative Investments.
Partnership's Cash	Partnership’s Cash:
Income Taxes	d. Income Taxes.
Investment Company Status	e. Investment Company Status. “Financial Services— Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements”
Net Income (Loss) per Redeemable Unit	f. Net Income (Loss) per Redeemable Unit.
Fair Value of Financial Instruments	g. Fair Value of Financial Instruments “Financial Instruments,”
Recent Accounting Pronouncements	h. Recent Accounting Pronouncements “Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent),” Further, the ASU removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using the practical expedient. The standard is effective for public business entities for fiscal years beginning after December 15, 2015. Early adoption is permitted. The Partnership has elected to adopt the guidance as of June 30, 2015. The adoption did not have any impact on the Partnership’s fair value measurement disclosures. In January 2016, the FASB issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities
Reclassification	i. Reclassification In the financial highlights table, ongoing selling agent fees and clearing fees, which were previously included in net realized and unrealized gains (losses) per Redeemable Unit and excluded from expenses per Redeemable Unit, are now excluded from net realized and unrealized gains (losses) per Redeemable Unit and included in net investment loss per Redeemable Unit. Interest income per Redeemable Unit and expenses per Redeemable Unit previously presented separately are now combined into net investment loss per Redeemable Unit.
Subsequent Events	j. Subsequent Events.

Trading Activities (Tables)

Trading Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Brokers and Dealers [Abstract]
Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives and Their Offsetting Subject to Master Netting or Similar Arrangements	The following table summarizes the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting or similar arrangements as of December 31, 2015. There were no direct investments as of December 31, 2014. Gross Gross the Statements Amounts Gross Amounts Not Offset in Statements of Financial Condition Net Amount December 31, 2015 Financial Cash Assets Futures $ 1,789,359 $ (1,643,225 ) $ 146,134 $ — $ — $ 146,134 Forwards 422,969 (422,969 ) — — — — Total assets $ 2,212,328 $ (2,066,194 ) $ 146,134 $ — $ — $ 146,134 Liabilities Futures $ (1,643,225 ) $ 1,643,225 $ — $ — $ — $ — Forwards (1,101,321 ) 422,969 (678,352 ) — — (678,352 ) Total liabilities $ (2,744,546 ) $ 2,066,194 $ (678,352 ) $ — $ — $ (678,352 ) Net Fair Value $ (532,218 )* * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s off-exchange-traded contracts, as applicable, has the right to offset the Partnership’s obligation with the Partnership’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. There is no collateral posted by MS&Co. and as such, in the event of default by MS&Co., the Partnership is exposed to the amount shown in the Statements of Financial Condition. In the case of exchange-traded contracts, the Partnership’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee fund may be available in the event of a default.
Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded	The following table indicates the gross fair values of derivative instruments of futures and forward contracts held directly by the Partnership as separate assets and liabilities as of December 31, 2015. There were no direct investments as of December 31, 2014. December 31, Assets Futures Contracts Energy $ 3,720 Grains 29,813 Indices 793,699 Interest Rates U.S. 339,849 Interest Rates Non-U.S. 607,581 Metals 14,697 Total unrealized appreciation on open futures contracts 1,789,359 Liabilities Futures Contracts Indices (546,384 ) Interest Rates U.S. (157,655 ) Interest Rates Non-U.S. (853,361 ) Metals (85,825 ) Total unrealized depreciation on open futures contracts (1,643,225 ) Net unrealized appreciation on open futures contracts $ 146,134 * Assets Forward Contracts Currencies $ 422,969 Total unrealized appreciation on open forward contracts 422,969 Liabilities Forward Contracts Currencies (1,101,321 ) Total unrealized depreciation on open forward contracts (1,101,321 ) Net unrealized depreciation on open forward contracts $ (678,352 )** * This amount is included in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. ** This amount is included in “Net unrealized depreciation on open forward contracts” in the Statements of Financial Condition.
Trading Gains and Losses by Market Sector on Derivative Instruments Traded	The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the years ended December 31, 2015, 2014 and 2013. Sector 2015 2014 2013 Currencies $ (658,713 ) $ 274,097 $ 2,165,089 Energy (274,934) (1,826,652 ) 225,138 Grains (36,678) 180,065 289,656 Indices (912,299) (843,355 ) (2,209,907 ) Interest Rates U.S. 321,210 333,522 (356,180 ) Interest Rates Non-U.S. 42,459 (695,562 ) (1,367,665 ) Livestock 2,079 (53,734 ) (35,540 ) Metals 222,360 182,099 (282,838 ) Softs (24,451) (39,847 ) 135,019 Total $ (1,318,967 )*** $ (2,489,367 )*** $ (1,437,228 )*** *** This amount is included in “Total trading results” in the Partnership’s Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Derivative Instruments Priced at Fair Value Using Unobservable Inputs	During the years ended December 31, 2015 and 2014, there were no transfers of assets or liabilities between Level 1 and Level 2. There were no direct investments as of December 31, 2014. December 31, 2015 Total Level 1 Level 2 Level 3 Assets Futures $ 1,789,359 $ 1,789,359 $ — $ — Forwards 422,969 — 422,969 — U.S. Treasury Bills 11,248,588 — 11,248,588 — Total assets $ 13,460,916 $ 1,789,359 $ 11,671,557 $ — Liabilities Futures $ 1,643,225 $ 1,643,225 $ — $ — Forwards 1,101,321 — 1,101,321 — Total liabilities $ 2,744,546 $ 1,643,225 $ 1,101,321 $ — Net fair value $ 10,716,370 $ 146,134 $ 10,570,236 $ —

Investment in Funds (Tables)

Investment in Funds (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Investments [Abstract]
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: December 31, 2015 Total Assets Total Liabilities Total Partners’ SECOR Master $ 50,962,450 $ 464,928 $ 50,497,522 Cambridge Master 59,992,404 282,482 59,709,922 Willowbridge Master 366,002,932 17,302,983 348,699,949 December 31, 2014 Total Assets Total Liabilities Total Partners’ Blackwater Master $ 24,973,305 $ 43,208 $ 24,930,097 SECOR Master 29,645,057 40,459 29,604,598 Cambridge Master 39,046,641 48,456 38,998,185 Willowbridge Master 332,179,217 16,638,854 315,540,363 PGM Master 20,831,040 39,214 20,791,826
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 year ended December 31, 2015 Net Investment Total Trading Net Income Blackwater Master $ (39,750 ) $ 87,198 $ 47,448 SECOR Master (396,486 ) 2,605,734 2,209,248 Cambridge Master (86,844 ) 9,062,618 8,975,774 Willowbridge Master (783,256 ) 6,652,400 5,869,144 PGM Master (136,430 ) (923,314 ) (1,059,744 ) For the year ended December 31, 2014 Net Investment Total Trading Net Income Blackwater Master $ (72,105 ) $ (545,462 ) $ (617,567 ) SECOR Master (577,318 ) 8,025,301 7,447,983 Cambridge Master (154,743 ) 9,610,031 9,455,288 Willowbridge Master (688,357 ) 46,239,150 45,550,793 300 North Master (164,457 ) (6,518,120 ) (6,682,577 ) Principle Master (184,996 ) (3,248,158 ) (3,433,154 ) PGM Master (110,539 ) 2,568,225 2,457,686
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: December 31, 2015 For the year ended December 31, 2015 Funds % of Fair Value Income (Loss) Expenses Net Income (Loss) Investment Redemptions Clearing Fees Other Blackwater Master(a) 0.00 % $ — $ 73,712 $ 3,762 $ 10,276 $ 59,674 Commodity Monthly SECOR Master 24.36 % 22,981,374 1,756,788 355,955 52,990 1,347,843 Commodity Monthly Cambridge Master 25.84 % 24,376,553 5,950,194 42,672 56,721 5,850,801 Commodity Monthly Willowbridge Master 15.82 % 14,927,448 274,436 24,974 2,702 246,760 Commodity Monthly PGM Master(b) 0.00 % — (922,486) 75,206 62,052 (1,059,744) Commodity Monthly Total $ 62,285,375 $ 7,132,644 $ 502,569 $ 184,741 $ 6,445,334 December 31, 2014 For the year ended December 31, 2014 Funds % of Fair Value Income (Loss) Expenses Net Income (Loss) Investment Redemptions Clearing Fees Other Blackwater Master 3.47 % $ 3,980,034 $ (511,367) $ 29,823 $ 26,911 $ (568,101) Commodity Monthly SECOR Master 25.83 % 29,604,763 8,028,963 482,950 98,030 7,447,983 Commodity Monthly Cambridge Master 23.30 % 26,708,570 6,837,308 79,783 81,601 6,675,924 Commodity Monthly Willowbridge Master 10.76 % 12,341,418 2,642,271 62,215 13,551 2,566,505 Commodity Monthly 300 North Master(c) 0.00 % — (6,514,690) 64,451 103,436 (6,682,577) Commodity Monthly Principle Master(d) 0.00 % — (3,245,900) 85,947 101,307 (3,433,154) Commodity Monthly PGM Master 18.14 % 20,791,945 2,568,841 43,655 67,500 2,457,686 Commodity Monthly Total $ 93,426,730 $ 9,805,426 $ 848,824 $ 492,336 $ 8,464,266 (a) From January 1, 2015 through September 30, 2015, the date the Partnership fully redeemed its interest in Blackwater Master. (b) From January 1, 2015 through June 30, 2015, the date the Partnership fully redeemed its interest in PGM Master. (c) From January 1, 2014 through October 31, 2014, the date the Partnership fully redeemed its interest in 300 North Master. (d) From January 1, 2014 through July 31, 2014, the date the Partnership fully redeemed its interest in Principle Master.

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Schedule of Financial Highlights for Limited Partner Class	Financial highlights for the Limited Partner class as a whole for the years ended December 31, 2015, 2014 and 2013 were as follows: Class A 2015 2014 2013 Net realized and unrealized gains (losses) $ 71.66 $ 112.59 $ 92.50 Net investment loss (97.80 ) (108.69 ) (101.91 ) Increase (decrease) for the year (26.14 ) 3.90 (9.41 ) Net asset value per unit, beginning of year 1,354.30 1,350.40 1,359.81 Net asset value per unit, end of year $ 1,328.16 $ 1,354.30 $ 1,350.40
Ratios to Average Net Assets	Ratios to average net assets: Net investment loss 1 (7.4 )% (8.5 )% (7.6 )% Operating expenses 6.0 % 6.4 % 6.9 % Incentive fees 1.4 % 2.1 % 0.8 % Total expenses 7.4 % 8.5 % 7.7 % Total return: Total return before incentive fees (0.5 )% 2.4 % 0.1 % Incentive fees (1.4 )% (2.1 )% (0.8 )% Total return after incentive fees (1.9 )% 0.3 % (0.7 )% 1 Interest income less total expenses.

Partnership Organization - Addi

Partnership Organization - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
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
Maximum number of Redeemable Units sold by the Partnership	0
Decreases in net asset value per Redeemable Unit of limited partnership interest of any Class	$ 400
Decline in aggregate net assets Partnership	$ 1,000,000
Liquidation date	Dec. 31, 2023
Class D Redeemable Units [Member]
Partnership Organization And Basis Of Presentation [Line Items]
Limited Partner Capital Account Redeemable Unit outstanding	0	0
Class Z Redeemable Units [Member]
Partnership Organization And Basis Of Presentation [Line Items]
Limited Partner Capital Account Redeemable Unit outstanding	0	0
Maximum [Member]
Partnership Organization And Basis Of Presentation [Line Items]
Percentage of partnership assets allocated	10.00%

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Cash denominated in foreign currencies	$ 472,794	$ 133,847
Cash denominated in foreign currencies at cost	$ 473,186
Income tax examination, description	No income tax returns are currently under examination. The 2012 through 2015 tax years remain subject to examination by U.S. federal and most state tax authorities.

Agreements - Additional Informa

Agreements - Additional Information (Detail) - USD ($)

Jan. 01, 2016

Sep. 29, 2015

Oct. 30, 2014

Oct. 01, 2014

Sep. 30, 2014

Jul. 30, 2014

Apr. 01, 2014

Mar. 31, 2014

Dec. 30, 2013

Nov. 30, 2013

Nov. 29, 2013

Oct. 30, 2013

Aug. 30, 2013

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Sep. 30, 2015

Agreements [Line Items]

Cash margin

$ 8,133,817

Customer Agreement [Member]

Agreements [Line Items]

Management fees description

Under the CGM Customer Agreement, the Partnership paid CGM a monthly brokerage fee equal to 7/24 of 1% (3.5% per year) of month-end net assets, in lieu of brokerage fees on a per trade basis.

Percentage of brokerage fees paid

3.50%

Percentage of Partnership interest

100.00%

U.S. Treasury bills maturing period

30 days

Cash margin

$ 8,133,817

$ 0

Selling Agreement [Member]

Agreements [Line Items]

Management fees description

Under the Selling Agreement with Morgan Stanley Wealth Management, the Partnership pays Morgan Stanley Wealth Management a monthly ongoing selling agent fee. Prior to April 1, 2014, this monthly ongoing selling agent fee was equal to (i) 7/24 of 1% (3.5% per year) of month-end Net Assets for Class A Redeemable Units, (ii) 5/48 of 1% (1.25% per year) of month-end Net Assets for Class D Redeemable Units and (iii) 1/24 of 1% (0.50% per year) of month-end Net Assets for Class Z Redeemable Units. Effective April 1, 2014, the monthly ongoing selling agent fee was reduced to 5/24 of 1% (2.5% per year) for Class A Redeemable Units. Effective October 1, 2014, the monthly ongoing selling agent fee was (i) reduced to 4/24 of 1% (2.0% per year) for Class A Redeemable Units, (ii) reduced to 3/48 of 1% (0.75% per year) for Class D Redeemable Units and (iii) eliminated for Class Z Redeemable Units.

Management Agreement [Member] | SECOR [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

2.00%

Management Agreement [Member] | Cambridge [Member]

Agreements [Line Items]

Incentive fees percentage

15.00%

Percentage of management fees paid to Advisors

1.50%

Management Agreement [Member] | Willowbridge [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

1.50%

Management Agreement [Member] | Perella [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

1.50%

Management Agreement [Member] | Centurion [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

1.25%

Management Agreement [Member] | Blackwater [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

1.25%

0.75%

Management Agreement [Member] | Principle [Member]

Agreements [Line Items]

Incentive fees percentage

17.50%

Percentage of management fees paid to Advisors

1.50%

Management Agreement [Member] | 300 North Capital [Member]

Agreements [Line Items]

Incentive fees percentage

17.50%

Percentage of management fees paid to Advisors

1.50%

Management Agreement [Member] | Waypoint Master [Member]

Agreements [Line Items]

Incentive fees percentage

17.00%

Percentage of management fees paid to Advisors

2.00%

Management Agreement [Member] | PGR Master Fund L.P. [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

1.00%

Management Agreement [Member] | JE Moody [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

2.00%

Management Agreement [Member] | Cirrus Capital Management LLC [Member]

Agreements [Line Items]

Incentive fees percentage

20.00%

Percentage of management fees paid to Advisors

2.00%

Subsequent Event [Member] | Management Agreement [Member] | SECOR [Member]

Agreements [Line Items]

Percentage of management fees paid to Advisors

1.75%

Subsequent Event [Member] | Management Agreement [Member] | Centurion [Member]

Agreements [Line Items]

Percentage of management fees paid to Advisors

1.00%

Class A Redeemable Units [Member] | Selling Agreement [Member]

Agreements [Line Items]

Percentage of brokerage fees paid

2.00%

2.50%

3.50%

Class D Redeemable Units [Member] | Selling Agreement [Member]

Agreements [Line Items]

Percentage of brokerage fees paid

0.75%

1.25%

Class Z Redeemable Units [Member] | Selling Agreement [Member]

Agreements [Line Items]

Percentage of brokerage fees paid

0.50%

Limited Partnership Agreement [Member]

Agreements [Line Items]

Management fee paid by partnership

0.50%

1.00%

Management fees description

The Partnership pays the General Partner a monthly administrative fee ("General Partner fees") (formerly, the administrative fees) equal to 1/12 of 1% (1.0% per year) of month-end Net Assets. Prior to October 1, 2014, the Partnership paid the General Partner a monthly administrative fee equal to 1/24 of 1% (0.5% per year) of month-end Net Assets.

Incentive fees percentage

5.00%

General partnership distribution amount

$ 0

$ 0

$ 0

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)Contracts	Dec. 31, 2014USD ($)Contracts
Trading Activity, Gains and Losses, Net [Line Items]
Net Fair Value | $	$ (532,218)	$ 0
Currency Forward Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional value of derivative | $	$ 21,771,991	$ 59,919,192
Futures Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held | Contracts	2,882	441
Options Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts traded | Contracts	100	1,240

Trading Activities - Summary of

Trading Activities - Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives and Their Offsetting Subject to Master Netting or Similar Arrangements (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 2,212,328
Gross Amounts Offset in the Statements of Financial Condition, Assets	(2,066,194)
Amounts Presented in the Statements of Financial Condition, Assets	146,134
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Net Amount, Assets	146,134
Gross Amounts Recognized, Liabilities	(2,744,546)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	2,066,194
Amounts Presented in the Statements of Financial Condition, Liabilities	(678,352)
Financial Instruments, Liabilities	0
Cash Collateral Received/Pledged, Liabilities	0
Net Amount, Liabilities	(678,352)
Net Fair Value	(532,218)	$ 0
Futures Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	1,789,359
Gross Amounts Offset in the Statements of Financial Condition, Assets	(1,643,225)
Amounts Presented in the Statements of Financial Condition, Assets	146,134
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Net Amount, Assets	146,134
Gross Amounts Recognized, Liabilities	(1,643,225)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	1,643,225
Financial Instruments, Liabilities	0
Cash Collateral Received/Pledged, Liabilities	0
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	422,969
Gross Amounts Offset in the Statements of Financial Condition, Assets	(422,969)
Financial Instruments, Assets	0
Cash Collateral Received/Pledged, Assets	0
Gross Amounts Recognized, Liabilities	(1,101,321)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	422,969
Amounts Presented in the Statements of Financial Condition, Liabilities	(678,352)
Financial Instruments, Liabilities	0
Cash Collateral Received/Pledged, Liabilities	0
Net Amount, Liabilities	$ (678,352)

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded (Detail)	Dec. 31, 2015USD ($)
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	$ 146,134
Total unrealized depreciation on open contracts	(678,352)
Futures Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	1,789,359
Total unrealized depreciation on open contracts	(1,643,225)
Net unrealized appreciation (depreciation) on open contracts	146,134
Futures Contracts [Member] | Energy [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	3,720
Futures Contracts [Member] | Grains [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	29,813
Futures Contracts [Member] | Indices [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	793,699
Total unrealized depreciation on open contracts	(546,384)
Futures Contracts [Member] | Interest Rates U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	339,849
Total unrealized depreciation on open contracts	(157,655)
Futures Contracts [Member] | Interest Rates Non-U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	607,581
Total unrealized depreciation on open contracts	(853,361)
Futures Contracts [Member] | Metals [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	14,697
Total unrealized depreciation on open contracts	(85,825)
Forward Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	422,969
Total unrealized depreciation on open contracts	(1,101,321)
Net unrealized appreciation (depreciation) on open contracts	(678,352)
Net unrealized appreciation (depreciation) on open contracts	(678,352)
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total unrealized appreciation on open contracts	422,969
Total unrealized depreciation on open contracts	$ (1,101,321)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses by Market Sector on Derivative Instruments Traded (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	$ 5,795,803	$ 7,295,780	$ 12,185,329
Derivative Instruments [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	(1,318,967)	(2,489,367)	(1,437,228)
Derivative Instruments [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	(658,713)	274,097	2,165,089
Derivative Instruments [Member] | Energy [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	(274,934)	(1,826,652)	225,138
Derivative Instruments [Member] | Grains [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	(36,678)	180,065	289,656
Derivative Instruments [Member] | Indices [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	(912,299)	(843,355)	(2,209,907)
Derivative Instruments [Member] | Interest Rates U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	321,210	333,522	(356,180)
Derivative Instruments [Member] | Interest Rates Non-U.S. [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	42,459	(695,562)	(1,367,665)
Derivative Instruments [Member] | Livestock [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	2,079	(53,734)	(35,540)
Derivative Instruments [Member] | Metals [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	222,360	182,099	(282,838)
Derivative Instruments [Member] | Softs [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Total trading results	$ (24,451)	$ (39,847)	$ 135,019

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Investment in Funds	$ 0	$ 0
Transfers of assets between Level 1 and Level 2	0	0
Transfers of liabilities between Level 1 and Level 2	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instruments Priced at Fair Value Using Unobservable Inputs (Detail)	Dec. 31, 2015USD ($)
Assets
Total assets	$ 13,460,916
Liabilities
Total liabilities	2,744,546
Net fair value	10,716,370
Forward Contracts [Member]
Assets
Total assets	422,969
Liabilities
Total liabilities	1,101,321
Futures Contracts [Member]
Assets
Total assets	1,789,359
Liabilities
Total liabilities	1,643,225
U.S. Treasury Bills [Member]
Assets
Total assets	11,248,588
Level 1 [Member]
Assets
Total assets	1,789,359
Liabilities
Total liabilities	1,643,225
Net fair value	146,134
Level 1 [Member] | Futures Contracts [Member]
Assets
Total assets	1,789,359
Liabilities
Total liabilities	1,643,225
Level 2 [Member]
Assets
Total assets	11,671,557
Liabilities
Total liabilities	1,101,321
Net fair value	10,570,236
Level 2 [Member] | Forward Contracts [Member]
Assets
Total assets	422,969
Liabilities
Total liabilities	1,101,321
Level 2 [Member] | U.S. Treasury Bills [Member]
Assets
Total assets	$ 11,248,588

Investment in Funds - Additiona

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

Sep. 30, 2015

Jun. 30, 2015

Oct. 31, 2014

Sep. 01, 2014

Jul. 31, 2014

Dec. 31, 2013

Nov. 30, 2013

Oct. 31, 2013

Aug. 31, 2013

Aug. 01, 2013

Mar. 01, 2013

Jan. 01, 2013

Sep. 01, 2012

Jan. 01, 2011

Nov. 01, 2010

Mar. 01, 2010

Dec. 31, 2015

Dec. 31, 2014

Cambridge [Member] | Maximum [Member]

Investment Holdings [Line Items]

Maximum amount of partnership assets allocated to trading advisor

2 times

Cambridge [Member] | Minimum [Member]

Investment Holdings [Line Items]

Maximum amount of partnership assets allocated to trading advisor

1.5 times

Cambridge Strategy Willowbridge Associates Inc [Member]

Investment Holdings [Line Items]

Maximum amount of partnership assets allocated to trading advisor

3 times

SECOR [Member]

Investment Holdings [Line Items]

Maximum amount of partnership assets allocated to trading advisor

1.5 times

Waypoint Master [Member]

Investment Holdings [Line Items]

Partnership units purchased

26,581.6800

Cash paid

$ 26,581,680

Investments redeemed

$ 4,378,673

Blackwater Master [Member]

Investment Holdings [Line Items]

Cash paid

$ 15,674,694

Investments redeemed

$ 2,233,594

Partnership assumed liabilities

$ 43,208

Percent of partnership

16.00%

PGR Master Fund L.P. [Member]

Investment Holdings [Line Items]

Cash paid

$ 14,913,029

Investments redeemed

$ 14,986,312

JEM Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership units purchased

19,624.4798

Cash paid

$ 19,624,480

Investments redeemed

$ 4,400,957

Cirrus Master [Member]

Investment Holdings [Line Items]

Partnership units purchased

22,270.9106

Cash paid

$ 22,270,911

Investments redeemed

$ 9,645,872

CMF Willowbridge Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership assumed liabilities

$ 17,302,983

$ 16,638,854

Percent of partnership

4.30%

3.90%

SECOR Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership assumed liabilities

$ 464,928

$ 40,459

Percent of partnership

45.50%

100.00%

Cambridge Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership assumed liabilities

$ 282,482

$ 48,456

Percent of partnership

40.80%

68.50%

PGM Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership assumed liabilities

$ 39,214

Percent of partnership

100.00%

Cambridge Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership purchased

$ 3,000,000

CMF Willowbridge Master Fund L.P. [Member]

Investment Holdings [Line Items]

Partnership units purchased

14,103.3175

Cash paid

$ 29,484,306

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

Investment Holdings [Line Items]

Cash paid

$ 10,000,000

Investments redeemed

$ 12,374,970

SECOR Master Fund L.P. [Member]

Investment Holdings [Line Items]

Cash paid

$ 10,000,000

Principle Master Fund L.P. [Member]

Investment Holdings [Line Items]

Cash paid

$ 6,503,661

Investments redeemed

$ 12,165,827

PGM Master Fund L.P. [Member]

Investment Holdings [Line Items]

Cash paid

$ 10,500,000

Investments redeemed

$ 21,222,368

Partnership purchased

608,710

Partnership assumed liabilities

$ 82,054

Investment in Funds - Summary o

Investment in Funds - Summary of Total Assets, Liabilities and Capital (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Blackwater Master [Member]
Investment Holdings [Line Items]
Total Assets		$ 24,973,305
Total Liabilities		43,208
Total Partners' Capital		24,930,097
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	$ 50,962,450	29,645,057
Total Liabilities	464,928	40,459
Total Partners' Capital	50,497,522	29,604,598
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	59,992,404	39,046,641
Total Liabilities	282,482	48,456
Total Partners' Capital	59,709,922	38,998,185
CMF Willowbridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	366,002,932	332,179,217
Total Liabilities	17,302,983	16,638,854
Total Partners' Capital	$ 348,699,949	315,540,363
PGM Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets		20,831,040
Total Liabilities		39,214
Total Partners' Capital		$ 20,791,826

Investment in Funds - Summary34

Investment in Funds - Summary of Net Investment Income (Loss), Total Trading Results and Net Income (Loss) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment In Funds Disclosure [Line Items]
Total trading results	$ 5,795,803	$ 7,295,780	$ 12,185,329
Net income (loss)	(1,908,668)	(3,537,926)	$ (1,322,351)
Blackwater Master [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)	(39,750)	(72,105)
Total trading results	87,198	(545,462)
Net income (loss)	47,448	(617,567)
SECOR Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)	(396,486)	(577,318)
Total trading results	2,605,734	8,025,301
Net income (loss)	2,209,248	7,447,983
Cambridge Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)	(86,844)	(154,743)
Total trading results	9,062,618	9,610,031
Net income (loss)	8,975,774	9,455,288
CMF Willowbridge Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)	(783,256)	(688,357)
Total trading results	6,652,400	46,239,150
Net income (loss)	5,869,144	45,550,793
300 North Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)		(164,457)
Total trading results		(6,518,120)
Net income (loss)		(6,682,577)
Principle Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)		(184,996)
Total trading results		(3,248,158)
Net income (loss)		(3,433,154)
PGM Master Fund L.P. [Member]
Investment In Funds Disclosure [Line Items]
Net Investment Income (Loss)	(136,430)	(110,539)
Total trading results	(923,314)	2,568,225
Net income (loss)	$ (1,059,744)	$ 2,457,686

Investment in Funds - Summary35

Investment in Funds - Summary of Partnership's Investment and Operations of Funds (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	77.38%	81.50%
Fair Value	$ 62,285,375	$ 93,426,730
Income (Loss)	5,795,803	7,295,780	$ 12,185,329
Expenses, Clearing Fees	267,311	263,588	252,007
Net income (loss)	(1,908,668)	(3,537,926)	$ (1,322,351)
Investment in Funds [Member]
Investment Holdings [Line Items]
Fair Value	62,285,375	93,426,730
Income (Loss)	7,132,644	9,805,426
Expenses, Clearing Fees	502,569	848,824
Expenses, Other	184,741	492,336
Net income (loss)	$ 6,445,334	$ 8,464,266
Investment in Funds [Member] | Commodity Portfolio [Member] | Blackwater Master [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	0.00%	3.47%
Fair Value		$ 3,980,034
Income (Loss)	$ 73,712	(511,367)
Expenses, Clearing Fees	3,762	29,823
Expenses, Other	10,276	26,911
Net income (loss)	$ 59,674	$ (568,101)
Investment Objective	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted	Monthly	Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	24.36%	25.83%
Fair Value	$ 22,981,374	$ 29,604,763
Income (Loss)	1,756,788	8,028,963
Expenses, Clearing Fees	355,955	482,950
Expenses, Other	52,990	98,030
Net income (loss)	$ 1,347,843	$ 7,447,983
Investment Objective	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted	Monthly	Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	25.84%	23.30%
Fair Value	$ 24,376,553	$ 26,708,570
Income (Loss)	5,950,194	6,837,308
Expenses, Clearing Fees	42,672	79,783
Expenses, Other	56,721	81,601
Net income (loss)	$ 5,850,801	$ 6,675,924
Investment Objective	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted	Monthly	Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | CMF Willowbridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	15.82%	10.76%
Fair Value	$ 14,927,448	$ 12,341,418
Income (Loss)	274,436	2,642,271
Expenses, Clearing Fees	24,974	62,215
Expenses, Other	2,702	13,551
Net income (loss)	$ 246,760	$ 2,566,505
Investment Objective	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted	Monthly	Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | 300 North Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets		0.00%
Income (Loss)		$ (6,514,690)
Expenses, Clearing Fees		64,451
Expenses, Other		103,436
Net income (loss)		$ (6,682,577)
Investment Objective		Commodity Portfolio
Redemptions Permitted		Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | Principle Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets		0.00%
Income (Loss)		$ (3,245,900)
Expenses, Clearing Fees		85,947
Expenses, Other		101,307
Net income (loss)		$ (3,433,154)
Investment Objective		Commodity Portfolio
Redemptions Permitted		Monthly
Investment in Funds [Member] | Commodity Portfolio [Member] | PGM Master Fund L.P. [Member]
Investment Holdings [Line Items]
Percentage of Partnership's Net Assets	0.00%	18.14%
Fair Value		$ 20,791,945
Income (Loss)	$ (922,486)	2,568,841
Expenses, Clearing Fees	75,206	43,655
Expenses, Other	62,052	67,500
Net income (loss)	$ (1,059,744)	$ 2,457,686
Investment Objective	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted	Monthly	Monthly

Subscriptions, Distributions 36

Subscriptions, Distributions and Redemptions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)
Statement of Partners' Capital [Abstract]
Fees charged to Limited Partners	$ 0

Financial Highlights - Schedule

Financial Highlights - Schedule of Financial Highlights for Limited Partner Class (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]
Net realized and unrealized gains (losses)	$ 71.66	$ 112.59	$ 92.50
Net investment loss	(97.80)	(108.69)	(101.91)
Increase (decrease) for the year	(26.14)	3.90	(9.41)
Net asset value per unit, beginning of year	1,354.30	1,350.40	1,359.81
Net asset value per unit, end of year	$ 1,328.16	$ 1,354.30	$ 1,350.40

Financial Highlights - Ratios t

Financial Highlights - Ratios to Average Net Assets (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Ratios to average net assets:
Net investment loss	(7.40%)	(8.50%)	(7.60%)
Operating expenses	6.00%	6.40%	6.90%
Incentive fees	1.40%	2.10%	0.80%
Total expenses	7.40%	8.50%	7.70%
Total return before incentive fees	(0.50%)	2.40%	0.10%
Incentive fees	(1.40%)	(2.10%)	(0.80%)
Total return after incentive fees	(1.90%)	0.30%	(0.70%)

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
General Partner OTC minimum	23.70%
General Partner OTC maximum	68.90%
Maturity on financial instruments	1 year