Emerging Cta Portfolio 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	CTA
Entity Registrant Name	EMERGING CTA PORTFOLIO LP
Entity Central Index Key	0001269190
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Class A Redeemable Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22,454.6820
Class Z Redeemable Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21.2650

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Mar. 31, 2019	Dec. 31, 2018
Assets:
Investment in the Funds(1), at fair value	[1]	$ 7,478,688	$ 10,478,871
Redemptions receivable from the Funds		1,503,871	2,523,092
Equity in trading account:
Unrestricted cash		16,252,048	16,750,928
Restricted cash		2,441,910	2,756,546
Net unrealized appreciation on open futures contracts		0	93,633
Total equity in trading account		18,693,958	19,601,107
Interest receivable		36,027	32,495
Total assets		27,712,544	32,635,565
Liabilities:
Net unrealized depreciation on open futures contracts		2,006	0
Accrued expenses:
Ongoing selling agent fees		45,520	53,716
Management fees		26,549	31,371
General Partner fees		22,981	27,083
Incentive fees		54,469	62,039
Professional fees		133,529	135,521
Redemptions payable to Limited Partners		1,182,608	2,467,162
Total liabilities		1,467,662	2,776,892
Partners' Capital:
Total partners' capital (net asset value)		26,244,882	29,858,673
Total liabilities and partners' capital		27,712,544	32,635,565
Class A Redeemable Units [Member]
Partners' Capital:
Limited Partners		25,849,743	29,455,757
Total partners' capital (net asset value)		$ 25,849,743	$ 29,455,757
Net asset value per Redeemable Unit:
Net asset value per Redeemable Unit		$ 1,123.91	$ 1,151.83
Class Z Redeemable Units [Member]
Partners' Capital:
General Partner		$ 375,035	$ 382,416
Limited Partners		20,104	20,500
Total partners' capital (net asset value)		$ 395,139	$ 402,916
Net asset value per Redeemable Unit:
Net asset value per Redeemable Unit		$ 945.42	$ 964.03
[1]	Defined in Note 1.

Statements of Financial Condi_2

Statements of Financial Condition (Parenthetical) - shares	Mar. 31, 2019	Dec. 31, 2018
Class A Redeemable Units [Member]
Limited Partners Redeemable Units outstanding	22,999.9160	25,573
Class Z Redeemable Units [Member]
General Partner Redeemable Units outstanding	396.6850	396.6850
Limited Partners Redeemable Units outstanding	21.2650	21.2650

Condensed Schedule of Investmen

Condensed Schedule of Investments		Mar. 31, 2019USD ($)Contract	Dec. 31, 2018USD ($)Contract
Schedule of Investments [Line Items]
% of Partners' Capital		28.50%	35.10%
Total investment in the Funds	[1]	$ 7,478,688	$ 10,478,871
Futures Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts		$ (2,006)	$ 93,633
% of Partners' Capital		(0.01%)	0.31%
Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts		$ 155,498	$ 201,796
% of Partners' Capital		0.59%	0.68%
Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation (depreciation) on open contracts		$ (157,504)	$ (108,163)
% of Partners' Capital		(0.60%)	(0.37%)
SECOR Master Fund L.P. [Member]
Schedule of Investments [Line Items]
% of Partners' Capital		20.42%	18.00%
Total investment in the Funds		$ 5,357,900	$ 5,373,355
CMF Harbour Square Master Fund LLC [Member]
Schedule of Investments [Line Items]
% of Partners' Capital		0.00%	8.39%
Total investment in the Funds		$ 0	$ 2,505,301
CMF AE Capital Master Fund LLC [Member]
Schedule of Investments [Line Items]
% of Partners' Capital		8.08%	8.71%
Total investment in the Funds		$ 2,120,788	$ 2,600,215
Currencies [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		170	212
Net unrealized appreciation (depreciation) on open contracts		$ (28,881)	$ (26,777)
% of Partners' Capital		(0.11%)	(0.09%)
Currencies [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		89	104
Net unrealized appreciation (depreciation) on open contracts		$ (21,073)	$ (4,015)
% of Partners' Capital		(0.09%)	(0.01%)
Energy [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		54	33
Net unrealized appreciation (depreciation) on open contracts		$ 6,573	$ (96,130)
% of Partners' Capital		0.02%	(0.32%)
Energy [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		19	32
Net unrealized appreciation (depreciation) on open contracts		$ (34,900)	$ 77,785
% of Partners' Capital		(0.13%)	0.26%
Grains [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		141	225
Net unrealized appreciation (depreciation) on open contracts		$ (108,225)	$ (84,112)
% of Partners' Capital		(0.41%)	(0.28%)
Grains [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		225	190
Net unrealized appreciation (depreciation) on open contracts		$ 80,745	$ 27,075
% of Partners' Capital		0.31%	0.09%
Indices [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		250	209
Net unrealized appreciation (depreciation) on open contracts		$ 65,831	$ 78,137
% of Partners' Capital		0.25%	0.26%
Indices [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		219	68
Net unrealized appreciation (depreciation) on open contracts		$ (74,182)	$ 8,843
% of Partners' Capital		(0.28%)	0.03%
Interest Rates Non-U.S. [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		236	441
Net unrealized appreciation (depreciation) on open contracts		$ 168,544	$ 224,279
% of Partners' Capital		0.64%	0.75%
Interest Rates Non-U.S. [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		214	215
Net unrealized appreciation (depreciation) on open contracts		$ (196,404)	$ (112,302)
% of Partners' Capital		(0.75%)	(0.38%)
Livestock [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		11	13
Net unrealized appreciation (depreciation) on open contracts		$ (6,560)	$ 5,100
% of Partners' Capital		(0.02%)	0.02%
Livestock [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		6	11
Net unrealized appreciation (depreciation) on open contracts		$ (5,480)	$ (1,550)
% of Partners' Capital		(0.02%)	(0.01%)
Metals [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		37	15
Net unrealized appreciation (depreciation) on open contracts		$ (38,348)	$ 18,336
% of Partners' Capital		(0.15%)	0.06%
Metals [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		2	4
Net unrealized appreciation (depreciation) on open contracts		$ 2,250	$ (483)
% of Partners' Capital		0.01%	(0.00%)
Softs [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		124	37
Net unrealized appreciation (depreciation) on open contracts		$ (147,617)	$ (23,859)
% of Partners' Capital		(0.56%)	(0.08%)
Softs [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		163	111
Net unrealized appreciation (depreciation) on open contracts		$ 125,267	$ (6,875)
% of Partners' Capital		0.48%	(0.02%)
Interest Rates U.S. [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		99	103
Net unrealized appreciation (depreciation) on open contracts		$ 244,181	$ 106,822
% of Partners' Capital		0.93%	0.36%
Interest Rates U.S. [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		36	57
Net unrealized appreciation (depreciation) on open contracts		$ (33,727)	$ (96,641)
% of Partners' Capital		(0.13%)	(0.33%)
[1]	Defined in Note 1.

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Investment Income:
Interest income		$ 96,846	$ 75,330
Interest income allocated from the Funds		49,411	62,040
Total investment income		146,257	137,370
Expenses:
Expenses allocated from the Funds		48,816	37,813
Clearing fees related to direct investments		37,691	54,848
Ongoing selling agent fees		144,090	205,834
Management fees		84,155	122,365
General Partner fees		72,745	103,829
Incentive fees		(7,570)
Professional fees		94,059	80,629
Total expenses		473,986	605,318
Net investment loss		(327,729)	(467,948)
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net realized gains (losses) on closed contracts		(612,685)	553,223
Net realized gains (losses) on closed contracts allocated from the Funds		303,402	335,741
Net change in unrealized gains (losses) on open contracts		(95,154)	(72,352)
Net change in unrealized gains (losses) on open contracts allocated from the Funds		55,807	517,524
Total trading results		(348,630)	1,334,136
Net income (loss)		(676,359)	866,188
Class A Redeemable Units [Member]
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss)		$ (668,582)	$ 853,059
Net income (loss) per Redeemable Unit	[1]	$ (27.92)	$ 24.79
Weighted average Redeemable Units outstanding		24,865.4530	34,838.4867
Class Z Redeemable Units [Member]
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss)		$ (7,777)	$ 13,129
Net income (loss) per Redeemable Unit	[1]	$ (18.61)	$ 25.24
Weighted average Redeemable Units outstanding		417.9500	520.1700
[1]	Represents the change in net asset value per Redeemable Unit during the period.

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	Limited Partners [Member]	General Partner [Member]	Class A Redeemable Units [Member]	Class A Redeemable Units [Member]Limited Partners [Member]	Class A Redeemable Units [Member]General Partner [Member]	Class Z Redeemable Units [Member]	Class Z Redeemable Units [Member]Limited Partners [Member]	Class Z Redeemable Units [Member]General Partner [Member]
Partners' Capital, beginning of period at Dec. 31, 2017	$ 41,742,612			$ 41,246,729			$ 495,883
Redemptions		$ (2,252,855)	$ (50,000)		$ (2,252,855)	$ 0		$ 0	$ (50,000)
Net income (loss)	866,188			853,059			13,129
Partners' Capital, end of period at Mar. 31, 2018	$ 40,305,945			$ 39,846,933			$ 459,012
Partners' Capital, Balance - Redeemable Units at Dec. 31, 2017	36,010.9960			35,490.8260			520.1700
Redemptions - Redeemable Units		(1,920.4390)	(51.0960)		(1,920.4390)	0		0	(51.0960)
Partners' Capital, Balance - Redeemable Units at Mar. 31, 2018	34,039.4610			33,570.3870			469.0740
Partners' Capital, beginning of period at Dec. 31, 2018	$ 29,858,673			$ 29,455,757			$ 402,916
Redemptions		$ (2,937,432)			$ (2,937,432)			$ 0
Net income (loss)	(676,359)			(668,582)			(7,777)
Partners' Capital, end of period at Mar. 31, 2019	$ 26,244,882			$ 25,849,743			$ 395,139
Partners' Capital, Balance - Redeemable Units at Dec. 31, 2018	25,990.9500			25,573			417.9500
Redemptions - Redeemable Units		(2,573.0840)			(2,573.0840)			0
Partners' Capital, Balance - Redeemable Units at Mar. 31, 2019	23,417.8660			22,999.9160			417.9500

Organization

Organization	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. 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 investment in the Funds (as defined below), 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 interests pertaining thereto. The Partnership may also enter into swap and other derivative transactions directly and through its investment in the Funds with the approval of the General Partner (as defined below). The sectors traded include currencies, livestock, energy, grains, metals, indices, softs and U.S. and non-U.S. interest rates. The commodity interests that are traded by the Partnership directly or indirectly through its investment in 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 (directly or indirectly through its investment in the Funds) 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 limited partnership interest (“Redeemable Units”) were sold at $1,000 per Redeemable Unit. The proceeds of the initial offering were held in an escrow account until August 6, 2004, at which time they were remitted to the Partnership for trading. The Partnership privately and continuously offers Redeemable Units 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, is the trading manager (the “Trading Manager”) of AE Capital Master (as defined below) and was the Trading Manager of Harbour Square Master (as defined below). The General Partner is a wholly-owned subsidiary of Morgan Stanley Domestic Holdings, Inc. (“MSD Holdings”). MSD Holdings is ultimately owned by Morgan Stanley. Morgan Stanley is a publicly held company whose shares are listed on the New York Stock Exchange. Morgan Stanley is engaged in various financial services and other businesses. During the reporting periods ended March 31, 2019 and 2018, the Partnership’s/Funds’ commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. JPMorgan Chase Bank, N.A. (“JPMorgan”) was also a foreign exchange forward contract counterparty for certain Funds. The Partnership/Funds deposited a portion of their cash in non-trading bank accounts at JPMorgan. 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, U.S. tax exempt individuals and institutions and non-U.S. investors. 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 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. Class Z Redeemable Units were first issued on July 1, 2017. As of March 31, 2019, there were no Redeemable Units outstanding in Class D. As of March 31, 2019, all trading decisions were made for the Partnership by AE Capital PTY Limited (“AE Capital”), Independent View BV (“Independent View”), Katonah Capital Partners Management, LLC (“Katonah”) and SECOR Capital Advisors, LP (“SECOR”) (each an “Advisor” and, collectively, the “Advisors”). Effective March 31, 2019, Harbour Square Capital Management LLC (“Harbour Square”) ceased to act as a commodity trading advisor to the Partnership. Effective October 1, 2018, the Partnership, the General Partner, The Cambridge Strategy (Asset Management) Limited (“Cambridge”) and Mesirow Financial International UK Limited (“Mesirow”) entered into a novation, assignment and assumption agreement, dated September 28, 2018, pursuant to which Cambridge transferred all of its future rights, obligations, and liabilities under that certain amended and restated management agreement, by and among the General Partner, the Partnership and Cambridge, dated as of October 1, 2013, as amended January 1, 2018 (collectively, the “Initial Advisory Agreement”), to Mesirow. From October 1, 2018 until its termination effective October 31, 2018, Mesirow had undertaken to perform the Initial Advisory Agreement and be bound by its terms in every way as if it were the original party to it in place of Cambridge. Effective March 1, 2018, Launchpad Capital Management, LLC (“Launchpad”) ceased to act as a commodity trading advisor to the Partnership. Effective April 30, 2018, Buttonwood Merchants, LLC (“Buttonwood”) ceased to act as a commodity trading advisor to the Partnership. References herein to the “Advisors” may also include, as relevant, references to Harbour Square, Cambridge, Mesirow, Launchpad and Buttonwood. Each Advisor is allocated a portion of the Partnership’s assets to manage. The Partnership invests the portion of its assets allocated to each of the Advisors either directly, through individually managed accounts, or indirectly, through its investment in the Funds. 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 . On November 1, 2018, the Partnership allocated a portion of its assets to Katonah, which trades the assets directly pursuant to Katonah’s Laplace Program through a managed account in the Partnership’s name. On October 1, 2016, the Partnership allocated a portion of its assets to Independent View, which trades the assets directly pursuant to Independent View’s IV Quantitative Futures Fund Program through a managed account in the Partnership’s . On September 1, 2017, the Partnership allocated a portion of its assets to Launchpad, which traded the assets directly pursuant to Launchpad’s MJP Commodity Strategy through a managed account in the Partnership’s name. Effective March 1, 2018, Launchpad transferred its rights and obligations under its management agreement with the Partnership and the General Partner to Buttonwood, and Buttonwood entered into a new management agreement with the Partnership and the General Partner pursuant to which Buttonwood assumed Launchpad’s rights and obligations. Prior to Buttonwood’s termination effective April 30, 2018, the assets allocated to it had been traded directly pursuant to its Liquid Commodity Strategy. The Partnership, SECOR Master Fund L.P. (“SECOR Master”) and CMF AE Capital Master Fund LLC (“AE Capital Master”) have, and (prior to its termination) Cambridge Master Fund L.P. (“Cambridge Master”) had, entered into futures brokerage account agreements and foreign exchange brokerage account agreements with MS&Co. Prior to its termination, CMF Harbour Square Master Fund LLC (“Harbour Square Master”) had entered into a futures brokerage account agreement with MS&Co. SECOR Master and AE Capital Master are collectively referred to as the “Funds.” References herein to “Funds” may also include as relevant, reference to Cambridge Master and Harbour Square Master. The Partnership, directly and through its investment in the Funds, pays MS&Co. (or will reimburse MS&Co. if previously paid) its allocable share of all trading fees for the clearing and, where applicable, execution of transactions as well as exchange, user, give-up, floor brokerage and National Futures Association fees (collectively, the “clearing fees”). Effective July 12, 2017, SECOR Master and, prior to its termination, Cambridge Master, each entered into certain agreements with JPMorgan in connection with trading in forward foreign currency contracts on behalf of the referenced Funds and indirectly, the Partnership. These agreements include a foreign exchange and bullion authorization agreement (“FX Agreement”), an International Swap Dealers Association, Inc. master agreement (“Master Agreement”), a schedule to the Master Agreement, a 2016 credit support annex for variation margin to the schedule and an institutional account agreement. In addition to SECOR Master and Cambridge Master, SECOR and Mesirow/Cambridge are or were parties to the FX Agreements for the Funds to which each acts or acted as advisor. Under each FX Agreement, JPMorgan charges a fee on the aggregate foreign currency transactions entered into on behalf of the respective Fund during a month. On October 10, 2018, Cambridge, Mesirow, Cambridge Master and JPMorgan entered into an amendment and assignment agreement (the “Assignment Agreement”), effective as of October 1, 2018, to the FX Agreement pursuant to which Cambridge assigned to Mesirow all of its rights, liabilities, duties and obligations under and in respect of the FX Agreement, Mesirow accepted such assignment and assumed all rights, liabilities, duties and obligations under and in respect of the FX Agreement and JPMorgan consented to such assignment and assumption. Pursuant to the Assignment Agreement, all references to Cambridge were replaced by references to Mesirow, and all references to “Investment Manager” are deemed to refer to Mesirow. On October 10, 2018, Cambridge Master and JPMorgan entered into an amendment (the “ISDA Amendment”), effective as of October 1, 2018, to the schedule to the Master Agreement, dated as of July 12, 2017, between Cambridge Master and JPMorgan. Pursuant to the ISDA Amendment, all references to Cambridge were replaced by references to Mesirow. The Partnership has entered into a selling agreement with Morgan Stanley Smith Barney LLC, doing business as Morgan Stanley Wealth Management (“Morgan Stanley Wealth Management”) (the “Selling Agreement”). Under the Selling Agreement, the Partnership pays Morgan Stanley Wealth Management a monthly ongoing selling agent fee equal to (i) 2.00% per year of adjusted month-end net assets for Class A Redeemable Units and (ii) 0.75% In July 2015, the General Partner delegated certain administrative functions to SS&C Technologies, Inc., a Delaware corporation, currently doing business as SS&C GlobeOp (the “Administrator”). Pursuant to a master services agreement, the Administrator furnishes certain administrative, accounting, regulatory reporting, tax and other services as agreed from time to time. In addition, the Administrator maintains certain books and records of the Partnership. The cost of retaining the Administrator is allocated among the pools operated by the General Partner, including the Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies: The accompanying financial statements and accompanying notes are unaudited but, in the opinion of the General Partner, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Partnership’s financial condition at March 31, 2019 and the results of its operations and changes in partners’ capital for the three months ended March 31, 2019 and 2018. These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. These financial statements should be read together with the financial statements and notes included in the Partnership’s Annual Report on Form 10-K (the “Form 10-K”) filed with the Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2018. The December 31, 2018 information has been derived from the audited financial statements as of and for the year ended December 31, 2018. Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year. Use of Estimates. The preparation of financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates, and those differences could be material. Profit Allocation. The General Partner and each limited partner share in the profits and losses of the Partnership in proportion to the amount of Partnership interest owned by each, except that no limited partner is liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions or redemptions and losses, if any. Statement of Cash Flows. The Partnership has not provided a Statement of Cash Flows, as permitted by Accounting Standards Codification (“ASC”) 230, “ Statement of Cash Flows .” The Statements of Changes in Partners’ Capital is included herein, and as of and for the periods ended March 31, 2019 and 2018, the Partnership carried no debt and all of the Partnership’s and the Funds’ investments were carried at fair value and classified as Level 1 or Level 2 measurements. Partnership’s Investment in the Funds. The Partnership carries its investment in the Funds based on the Partnership’s (1) net contribution to the Funds and (2) its allocated share of the undistributed profits and losses, including realized gains (losses) and net change in unrealized gains (losses), of the Funds. Partnership’s/Funds’ Derivative Investments. All commodity interests of the Partnership/Funds, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests are recorded on trade date and open contracts are recorded at fair value (as described in Note 5, “Fair Value Measurements”) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated and are determined using the first-in, first-out method. Unrealized gains or losses on open contracts are included as a component of equity in trading account in the Partnership’s/Funds’ Statements of Financial Condition. Net realized gains or losses and net change in unrealized gains or losses are included in the Partnership’s/Funds’ Statements of Income and Expenses. 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. Partnership’s Cash. The Partnership’s restricted cash is equal to the cash portion of assets on deposit to meet margin requirements, as determined by the exchange or counterparty, and required by MS&Co. At March 31, 2019 and December 31, 2018, the amount of cash held for margin requirements was $2,441,910 and $2,756,546, respectively. Cash that is not classified as restricted cash is therefore classified as unrestricted cash. The Partnership’s restricted and unrestricted cash includes cash denominated in foreign currencies of $(139,377) (proceeds of $140,708) and $(53,834) (proceeds of $54,680) as of March 31, 2019 and December 31, 2018, respectively. Income Taxes. Income taxes have not been recorded as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses. The Partnership follows the guidance of ASC 740, “ Income Taxes ,” which prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken or expected to be taken in the course of preparing the Partnership’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained “when challenged” or “when examined” by the applicable tax authority. Tax positions determined not to meet the more-likely-than-not threshold would be recorded as a tax benefit or liability in the Partnership’s Statements of Financial Condition for the current year. If a tax position does not meet the minimum statutory threshold to avoid the incurring of penalties, an expense for the amount of the statutory penalty and interest, if applicable, shall be recognized in the Statements of Income and Expenses in the period in which the position is claimed or expected to be claimed. The General Partner has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2015 through 2018 tax years remain subject to examination by U.S. federal and most state tax authorities. Investment Company Status. Effective January 1, 2014, the Partnership adopted Accounting Standards Update 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” and based on the General Partner’s assessment, the Partnership has been deemed to be an investment company since inception. Accordingly, the Partnership follows the investment company accounting and reporting guidance of Topic 946 and reflects its investments at fair value with unrealized gains and losses resulting from changes in fair value reflected in the Statements of Income and Expenses. Net Income (Loss) Per Redeemable Unit. Net income (loss) per Redeemable Unit is calculated in accordance with ASC 946, “Financial Services – Investment Companies.” See Note 3, “Financial Highlights.” There have been no material changes with respect to the Partnership’s critical accounting policies as reported in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2018.

Financial Highlights

Financial Highlights	3 Months Ended
	Mar. 31, 2019
Investment Company [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner Classes as a whole for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 Class A Class Z Class A Class Z Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) $ (14.84 ) $ (12.67 ) $ 38.13 $ 31.35 Net investment loss (13.08 ) (5.94 ) (13.34 ) (6.11 ) Increase (decrease) for the period (27.92 ) (18.61 ) 24.79 25.24 Net asset value per Redeemable Unit, beginning of period 1,151.83 964.03 1,162.18 953.31 Net asset value per Redeemable Unit, end of period $ 1,123.91 $ 945.42 $ 1,186.97 $ 978.55 Three Months Ended March 31, 2019 2018 Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.8 )% (2.7 )% (4.7 )% (2.6 )% Operating expenses 6.9 % 4.7 % 6.0 % 3.9 % Incentive fees 0.0 % **** 0.0 % **** - % - % Total expenses 6.9 % 4.7 % 6.0 % 3.9 % Total return: Total return before incentive fees (2.5 )% (1.9 )% 2.1 % 2.6 % Incentive fees 0.1 % 0.0 % **** - % - % Total return after incentive fees (2.4 )% (1.9 )% 2.1 % 2.6 % * Net investment loss per Redeemable Unit is calculated by dividing the interest income less total expenses by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income less total expenses. **** Due to rounding. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class for the Classes using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and include the income and expenses allocated from the Funds.

Trading Activities

Trading Activities	3 Months Ended
	Mar. 31, 2019
Brokers and Dealers [Abstract]
Trading Activities	4. Trading Activities: The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity instruments. The results of the Partnership’s trading activities are shown in the Statements of Income and Expenses. The Partnership also invests its assets through a “master/feeder” structure. The Partnership’s pro-rata share of the results of the Funds’ trading activities are shown in the Statements of Income and Expenses. The futures brokerage account agreements with MS&Co. give the Partnership and the Funds, respectively, the legal right to net unrealized gains and losses on open futures and forward contracts in their respective Statements of Financial Condition. The Partnership and the Funds net, for financial reporting purposes, the unrealized gains and losses on open futures and forward contracts in their respective Statements of Financial Condition, as the criteria under ASC 210-20, “ Balance Sheet, ” have been met. All of the commodity interests owned by the Partnership are held for trading purposes. All of the commodity interests owned by the Funds are held for trading purposes. The monthly average number of futures contracts traded directly by the Partnership during the three months ended March 31, 2019 and 2018 were 2,002 and 1,738, respectively. The monthly average number of option contracts traded directly by the Partnership during the three months ended March 31, 2019 and 2018 were 0 and 567, respectively. The monthly average notional value of currency forward contracts traded directly by the Partnership during the three months ended March 31, 2019 and 2018 were $0 and $14,041,522, respectively. 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. All clearing fees paid to MS&Co. are borne directly by the Partnership for its direct trading. In addition, clearing fees are borne by the Funds and are allocated to the Funds’ limited partners/members, including the Partnership. The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting agreements or similar arrangements as of March 31, 2019 and December 31, 2018, respectively. Gross Amounts Not Offset in the Gross Amounts Offset in the Amounts Presented in the Statements of Financial Condition Gross Statements of Statements of Cash Collateral Amounts Financial Financial Financial Received/ March 31, 2019 Recognized Condition Condition Instruments Pledged* Net Amount Assets Futures $ 838,035 $ (838,035 ) $ - $ - $ - $ - Total assets $ 838,035 $ (838,035 ) $ - $ - $ - $ - Liabilities Futures $ (840,041 ) $ 838,035 $ (2,006 ) $ - $ 2,006 $ - Total liabilities $ (840,041 ) $ 838,035 $ (2,006 ) $ - $ 2,006 $ - Net fair value $ - * Gross Amounts Not Offset in the Gross Amounts Offset in the Amounts Presented in the Statements of Financial Condition Gross Statements of Statements of Cash Collateral Amounts Financial Financial Financial Received/ December 31, 2018 Recognized Condition Condition Instruments Pledged* Net Amount Assets Futures $ 851,529 $ (757,896 ) $ 93,633 $ - $ - $ 93,633 Total assets $ 851,529 $ (757,896 ) $ 93,633 $ - $ - $ 93,633 Liabilities Futures $ (757,896 ) $ 757,896 $ - $ - $ - $ - Total liabilities $ (757,896 ) $ 757,896 $ - $ - $ - $ - Net fair value $ 93,633 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s non-exchange-traded 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. In certain instances, MS&Co. may not post collateral 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 funds may be available in the event of a default. The following tables indicate the gross fair values of derivative instruments of futures contracts held directly by the Partnership as separate assets and liabilities as of March 31, 2019 and December 31, 2018, respectively. Assets March 31, 2019 Futures Contracts Currencies $ 32,389 Energy 52,129 Grains 87,829 Indices 87,409 Interest Rates U.S. 246,054 Interest Rates Non-U.S. 172,360 Livestock 1,780 Metals 10,599 Softs 147,486 Total unrealized appreciation on open futures contracts 838,035 Liabilities Futures Contracts Currencies (82,343 ) Energy (80,456 ) Grains (115,309 ) Indices (95,760 ) Interest Rates U.S. (35,600 ) Interest Rates Non-U.S. (200,220 ) Livestock (13,820 ) Metals (46,697 ) Softs (169,836 ) Total unrealized depreciation on open futures contracts (840,041 ) Net unrealized depreciation on open futures contracts $ (2,006 )* * This amount is in “Net unrealized depreciation on open futures contracts” in the Statements of Financial Condition. Assets December 31, 2018 Futures Contracts Currencies $ 117,929 Energy 84,783 Grains 59,786 Indices 188,979 Interest Rates U.S. 110,603 Interest Rates Non-U.S. 239,824 Livestock 6,430 Metals 23,688 Softs 19,507 Total unrealized appreciation on open futures contracts 851,529 Liabilities Futures Contracts Currencies (148,721 ) Energy (103,128 ) Grains (116,823 ) Indices (101,999 ) Interest Rates U.S. (100,422 ) Interest Rates Non-U.S. (127,847 ) Livestock (2,880 ) Metals (5,835 ) Softs (50,241 ) Total unrealized depreciation on open futures contracts (757,896 ) Net unrealized appreciation on open futures contracts $ 93,633 * * This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three months ended March 31, 2019 and 2018, respectively. Three Months Ended March 31, Sector 2019 2018 Currencies $ (309,098 ) $ (434,926 ) Energy (179,250 ) (44,432 ) Grains (140,381 ) 80,568 Indices (299,984 ) 660,657 Interest Rates U.S. 283,134 (46,375 ) Interest Rates Non-U.S. 85,882 297,138 Livestock (52,010 ) 7,920 Metals (27,593 ) (32,305 ) Softs (68,539 ) (7,374 ) Total $ (707,839 ) ** $ 480,871 ** ** This amount is included in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Partnership’s and the Funds’ Fair Value Measurements. Fair value is defined as the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to fair values derived from unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The fair value of exchange-traded futures, option and forward contracts is determined by the various exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded foreign currency option contracts is calculated by applying an industry standard model application for options valuation of foreign currency options, using as 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 commodity futures, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of U.S. Treasury bills, non-exchange-traded forward, swap and certain option contracts for which market quotations are not readily available are priced by pricing services that derive fair values for those assets and liabilities from observable inputs (Level 2). As of March 31, 2019 and December 31, 2018 and for the periods ended March 31, 2019 and 2018, 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). March 31, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 838,035 $ 838,035 $ - $ - Total assets $ 838,035 $ 838,035 $ - $ - Liabilities Futures $ 840,041 $ 840,041 $ - $ - Total liabilities $ 840,041 $ 840,041 $ - $ - December 31, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 851,529 $ 851,529 $ - $ - Total assets $ 851,529 $ 851,529 $ - $ - Liabilities Futures $ 757,896 $ 757,896 $ - $ - Total liabilities $ 757,896 $ 757,896 $ - $ -

Investment in the Funds

Investment in the Funds	3 Months Ended
	Mar. 31, 2019
Schedule of Investments [Abstract]
Investment in the Funds	6. Investment in the Funds: 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. 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 master/feeder structure promotes efficiency and economy in the trading process. The General Partner and SECOR have agreed that SECOR will trade the Partnership’s assets allocated to SECOR at a level that is up to 1.5 times the leverage applied to the assets of SECOR Alpha Master Fund L.P. On February 1, 2017, the Partnership allocated a portion of its assets to AE Capital, which were managed and traded directly by AE Capital pursuant to AE Capital’s AE Systematic FX Fund Program through a trading account in the Partnership’s name from March 1, 2017 until January 31, 2018. Effective February 1, 2018, the assets allocated to AE Capital were transferred into AE Capital Master, a limited liability company organized under the limited liability company laws of the State of Delaware, through which they are managed and traded by AE Capital pursuant to the same strategy. AE Capital Master permits accounts managed by AE Capital using AE Capital’s AE Systematic FX Fund Program, a proprietary systematic strategy, to invest together in one trading vehicle. The General Partner is also the trading manager to AE Capital Master. Individual and pooled accounts currently managed by AE Capital, including the Partnership, are permitted to be members of AE Capital Master. The Trading Manager and AE Capital believe that trading through this master/feeder structure promotes efficiency and economy in the trading process. On August 1, 2016, 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. From October 1, 2018 until its termination effective October 31, 2018, Mesirow had undertaken to perform the Initial Advisory Agreement and be bound by its terms in every way as if it were the original party to it in place of Cambridge. Effective October 31, 2018, the Partnership fully redeemed its investment in Cambridge Master. The General Partner is not aware of any other material changes to any of the trading programs discussed above or in Note 1, “Organization” during the fiscal quarter ended March 31, 2019. The Funds’ and the Partnership’s trading of futures, forward, swap and option contracts, as applicable, on commodities is done primarily on U.S. and foreign commodity exchanges. The Funds and the Partnership engage in such trading through commodity brokerage accounts maintained with MS&Co. Generally, a limited partner/member in the Funds withdraws all or part of its capital contribution and undistributed profits, if any, from the Funds as of the end of any month (the “Redemption Date”) after a request has been made to the General Partner/Trading Manager at least three days in advance of the Redemption Date. Such withdrawals are classified as a liability when the limited partner/member elects to redeem and informs the Funds. However, a limited partner/member may request a withdrawal as of the end of any day if such request is received by the General Partner/Trading Manager at least three days in advance of the proposed withdrawal day. Management fees, ongoing selling agent fees, the General Partner fees and incentive fees are charged at the Partnership level. Professional fees are borne by the Funds and allocated to the Partnership, and also charged directly at the Partnership level. Clearing fees are borne by the Funds and allocated to the Funds’ limited partners/members, including the Partnership. Clearing fees are also borne by the Partnership directly. As of March 31, 2019, the Partnership owned approximately 12.6% of SECOR Master and 11.3% of AE Capital Master. As of December 31, 2018, the Partnership owned approximately 15.3% of SECOR Master, 31.3% of Harbour Square Master and 13.2% of AE Capital Master. The performance of the Partnership is directly affected by the performance of the Funds. Expenses to investors as a result of investment in the Funds are approximately the same as they would be if the Partnership traded directly and the redemption rights are not affected. Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Funds is shown in the following tables: March 31, 2019 Total Assets Total Liabilities Total Capital SECOR Master $ 42,956,875 $ 645,175 $ 42,311,700 Harbour Square Master 5,311,909 5,311,909 - AE Capital Master 18,810,537 111,558 18,698,979 December 31, 2018 Total Assets Total Liabilities Total Capital SECOR Master $ 37,347,676 $ 2,170,539 $ 35,177,137 Harbour Square Master 10,504,910 2,532,233 7,972,677 AE Capital Master 19,758,302 99,954 19,658,348 Summarized information reflecting the net investment income (loss), total trading results and net income (loss) of the Funds is shown in the following tables: For the three months ended March 31, 2019 Net Investment Income (Loss) Total Trading Results Net Income (Loss) SECOR Master $ (47,181 ) $ 3,326,837 $ 3,279,656 Harbour Square Master (14,678 ) 160,848 146,170 AE Capital Master 86,493 (895,582 ) (809,089 ) For the three months ended March 31, 2018 Net Investment Income (Loss) Total Trading Results Net Income (Loss) SECOR Master $ (50,101 ) $ 3,566,528 $ 3,516,427 Cambridge Master 85,288 2,010,327 2,095,615 Harbour Square Master 65,272 866,131 931,403 AE Capital Master (a) 38,714 (155,473 ) (116,759 ) (a) From February 1, 2018, commencement of operations for AE Capital Master, through March 31, 2018. Summarized information reflecting the Partnership’s investments in and the Partnership’s pro-rata share of the results of operations of the Funds is shown in the following tables: March 31, 2019 For the three months ended March 31, 2019 % of Expenses Net Funds Partners’ Capital Fair Value Income (Loss) Clearing Fees Professional Fees Income (Loss) Investment Objective Redemptions Permitted SECOR Master 20.42 % $ 5,357,900 $ 441,552 $ 27,851 $ 2,002 $ 411,699 Commodity Portfolio Monthly Harbour Square Master - % - 56,578 3,271 11,879 41,428 Commodity Portfolio Monthly AE Capital Master 8.08 % 2,120,788 (89,510 ) 1,895 1,918 (93,323 ) Commodity Portfolio Monthly Total $ 7,478,688 $ 408,620 $ 33,017 $ 15,799 $ 359,804 December 31, 2018 For the three months ended March 31, 2018 % of Expenses Net Funds Partners’ Capital Fair Value Income Clearing Fees Professional Fees Income (Loss) Investment Objective Redemptions Permitted SECOR Master 18.00 % $ 5,373,355 $ 547,001 $ 21,021 $ 2,541 $ 523,439 Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 366,446 5,036 6,304 355,106 Commodity Portfolio Monthly AE Capital Master (a) 8.71 % 2,600,215 (15,377 ) 511 1,820 (17,708 ) Commodity Portfolio Monthly Cambridge Master - % - 17,235 358 222 16,655 Commodity Portfolio Monthly Total $ 10,478,871 $ 915,305 $ 26,926 $ 10,887 $ 877,492 (a) From February 1, 2018, the date the Partnership invested into AE Capital Master, through March 31, 2018.

Financial Instrument Risks

Financial Instrument Risks	3 Months Ended
	Mar. 31, 2019
Investments, All Other Investments [Abstract]
Financial Instrument Risks	7. Financial Instrument Risks: In the normal course of business, the Partnership and the Funds are parties to financial instruments with off-balance-sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include 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. Specific market movements of commodities or futures contracts underlying an option cannot accurately be predicted. The purchaser of an option may lose the entire premium paid for the option. The writer or seller of an option has unlimited risk. 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 7.9% to 20.8% of the Partnership’s/Funds’ contracts are traded OTC. Futures Contracts. The Partnership and the Funds trade futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of investments, currency or a standardized amount of a deliverable grade commodity, at a specified price on a specified future date, unless the contract is closed before the delivery date or if the delivery quantity is something where physical delivery cannot occur (such as the S&P 500 Index), whereby such contract is settled in cash. Payments (“variation margin”) may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. When the contract is closed, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in futures contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the futures broker, directly with the exchange on which the contracts are traded. Net realized gains (losses) and net change in unrealized gains (losses) on futures contracts are included in the Partnership’s/Funds’ Statements of Income and Expenses. Forward Foreign Currency Contracts. Forward foreign currency contracts are those contracts where the Partnership and the Funds agree to receive or deliver a fixed quantity of foreign currency for an agreed upon price on an agreed upon future date. Forward foreign currency contracts are valued daily, and the Partnership’s and Funds’ net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts and the forward rates at the reporting date, is included in the Partnership’s/Funds’ Statements of Financial Condition. Net realized gains (losses) and net change in unrealized gains (losses) on forward foreign currency contracts are recognized in the period in which the contract is closed or the changes occur, respectively, and are included in the Partnership’s/Funds’ Statements of Income and Expenses. London Metals Exchange Forward Contracts. Metal contracts traded on the London Metals Exchange (“LME”) represent a firm commitment to buy or sell a specified quantity of aluminum, copper, lead, nickel, tin or zinc. LME contracts traded by the Partnership and the Funds are cash settled based on prompt dates published by the LME. Variation margin may be made or received by the Partnership and the Funds each business day, depending on the daily fluctuations in the value of the underlying contracts, and are recorded as unrealized gains or losses by the Partnership and the Funds. A contract is considered offset when all long positions have been matched with a like number of short positions settling on the same prompt date. When the contract is closed at the prompt date, the Partnership and the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Transactions in LME contracts require participants to make both initial margin deposits of cash or other assets and variation margin deposits, through the broker, directly with the LME. Net realized gains (losses) and net change in unrealized gains (losses) on metal contracts are included in the Partnership’s/Funds’ Statements of Income and Expenses. Options. The Partnership and the Funds may purchase and write (sell) both exchange-listed and OTC options on commodities or financial instruments. An option is a contract allowing, but not requiring, its holder to buy (call) or sell (put) a specific or standard commodity or financial instrument at a specified price during a specified time period. The option premium is the total price paid or received for the option contract. When the Partnership/Funds write an option, the premium received is recorded as a liability in the Partnership’s/Funds’ Statements of Financial Condition and marked-to-market daily. When the Partnership/Funds purchase an option, the premium paid is recorded as an asset in the Partnership’s/Funds’ Statements of Financial Condition and marked-to-market daily. Net realized gains (losses) and net change in unrealized gains (losses) on option contracts are included in the Partnership’s/Funds’ Statements of Income and Expenses. 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. 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 held 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 have credit risk and concentration risk, as MS&Co., an MS&Co. affiliate or JPMorgan are counterparties or brokers with respect to the Partnership’s/Funds’ assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through MS&Co. or an MS&Co. affiliate, the Partnership’s/Funds’ counterparty is an exchange or clearing organization. The General Partner monitors and attempts to mitigate the Partnership’s/Funds’ risk exposure on a daily basis through financial, credit and risk management monitoring systems, and accordingly, believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Partnership/Funds may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk-adjusted performance indicators and correlation statistics. In addition, online monitoring systems provide account analysis of futures, forward and option contracts by sector, margin requirements, gain and loss transactions and collateral positions. The majority of these 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. 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. In the ordinary course of business, the Partnership/Funds enter into contracts and agreements that contain various representations and warranties and which provide general indemnifications. The Partnership’s/Funds’ maximum exposure under these arrangements cannot be determined, as this could include future claims that have not yet been made against the Partnership/Funds. The Partnership/ Funds consider the risk of any future obligation relating to these indemnifications to be remote.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events: The General Partner evaluates events that occur after the balance sheet date but before and up until financial statements are available to be issued. The General Partner has assessed the subsequent events through the date the financial statements were issued and has determined that, other than that described below, there were no subsequent events requiring adjustment to or disclosure in the financial statements. Effective .

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates. The preparation of financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the General Partner to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses, and related disclosures of contingent assets and liabilities in the financial statements and accompanying notes. As a result, actual results could differ from these estimates, and those differences could be material.
Profit Allocation	Profit Allocation. The General Partner and each limited partner share in the profits and losses of the Partnership in proportion to the amount of Partnership interest owned by each, except that no limited partner is liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions or redemptions and losses, if any.
Statement of Cash Flows	Statement of Cash Flows. The Partnership has not provided a Statement of Cash Flows, as permitted by Accounting Standards Codification (“ASC”) 230, “ Statement of Cash Flows .” The Statements of Changes in Partners’ Capital is included herein, and as of and for the periods ended March 31, 2019 and 2018, the Partnership carried no debt and all of the Partnership’s and the Funds’ investments were carried at fair value and classified as Level 1 or Level 2 measurements.
Partnership's Investment in the Funds	Partnership’s Investment in the Funds. The Partnership carries its investment in the Funds based on the Partnership’s (1) net contribution to the Funds and (2) its allocated share of the undistributed profits and losses, including realized gains (losses) and net change in unrealized gains (losses), of the Funds.
Partnership's/Funds' Derivative Investments	Partnership’s/Funds’ Derivative Investments. All commodity interests of the Partnership/Funds, including derivative financial instruments and derivative commodity instruments, are held for trading purposes. The commodity interests are recorded on trade date and open contracts are recorded at fair value (as described in Note 5, “Fair Value Measurements”) at the measurement date. Investments in commodity interests denominated in foreign currencies are translated into U.S. dollars at the exchange rates prevailing at the measurement date. Gains or losses are realized when contracts are liquidated and are determined using the first-in, first-out method. Unrealized gains or losses on open contracts are included as a component of equity in trading account in the Partnership’s/Funds’ Statements of Financial Condition. Net realized gains or losses and net change in unrealized gains or losses are included in the Partnership’s/Funds’ Statements of Income and Expenses. 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.
Partnership's Cash	Partnership’s Cash. The Partnership’s restricted cash is equal to the cash portion of assets on deposit to meet margin requirements, as determined by the exchange or counterparty, and required by MS&Co. At March 31, 2019 and December 31, 2018, the amount of cash held for margin requirements was $2,441,910 and $2,756,546, respectively. Cash that is not classified as restricted cash is therefore classified as unrestricted cash. The Partnership’s restricted and unrestricted cash includes cash denominated in foreign currencies of $(139,377) (proceeds of $140,708) and $(53,834) (proceeds of $54,680) as of March 31, 2019 and December 31, 2018, respectively.
Income Taxes	Income Taxes. Income taxes have not been recorded as each partner is individually liable for the taxes, if any, on its share of the Partnership’s income and expenses. The Partnership follows the guidance of ASC 740, “ Income Taxes ,” which prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of tax positions taken or expected to be taken in the course of preparing the Partnership’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained “when challenged” or “when examined” by the applicable tax authority. Tax positions determined not to meet the more-likely-than-not threshold would be recorded as a tax benefit or liability in the Partnership’s Statements of Financial Condition for the current year. If a tax position does not meet the minimum statutory threshold to avoid the incurring of penalties, an expense for the amount of the statutory penalty and interest, if applicable, shall be recognized in the Statements of Income and Expenses in the period in which the position is claimed or expected to be claimed. The General Partner has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2015 through 2018 tax years remain subject to examination by U.S. federal and most state tax authorities.
Investment Company Status	Investment Company Status. Effective January 1, 2014, the Partnership adopted Accounting Standards Update 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” and based on the General Partner’s assessment, the Partnership has been deemed to be an investment company since inception. Accordingly, the Partnership follows the investment company accounting and reporting guidance of Topic 946 and reflects its investments at fair value with unrealized gains and losses resulting from changes in fair value reflected in the Statements of Income and Expenses.
Net Income (Loss) Per Redeemable Unit	Net Income (Loss) Per Redeemable Unit. Net income (loss) per Redeemable Unit is calculated in accordance with ASC 946, “Financial Services – Investment Companies.” See Note 3, “Financial Highlights.”

Financial Highlights (Tables)

Financial Highlights (Tables)	3 Months Ended
	Mar. 31, 2019
Investment Company [Abstract]
Financial Highlights	Financial highlights for the limited partner Classes as a whole for the three months ended March 31, 2019 and 2018 were as follows: Three Months Ended March 31, 2019 2018 Class A Class Z Class A Class Z Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) $ (14.84 ) $ (12.67 ) $ 38.13 $ 31.35 Net investment loss (13.08 ) (5.94 ) (13.34 ) (6.11 ) Increase (decrease) for the period (27.92 ) (18.61 ) 24.79 25.24 Net asset value per Redeemable Unit, beginning of period 1,151.83 964.03 1,162.18 953.31 Net asset value per Redeemable Unit, end of period $ 1,123.91 $ 945.42 $ 1,186.97 $ 978.55 Three Months Ended March 31, 2019 2018 Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.8 )% (2.7 )% (4.7 )% (2.6 )% Operating expenses 6.9 % 4.7 % 6.0 % 3.9 % Incentive fees 0.0 % **** 0.0 % **** - % - % Total expenses 6.9 % 4.7 % 6.0 % 3.9 % Total return: Total return before incentive fees (2.5 )% (1.9 )% 2.1 % 2.6 % Incentive fees 0.1 % 0.0 % **** - % - % Total return after incentive fees (2.4 )% (1.9 )% 2.1 % 2.6 % * Net investment loss per Redeemable Unit is calculated by dividing the interest income less total expenses by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income less total expenses. **** Due to rounding.

Trading Activities (Tables)

Trading Activities (Tables)	3 Months Ended
	Mar. 31, 2019
Brokers and Dealers [Abstract]
Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives	The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting agreements or similar arrangements as of March 31, 2019 and December 31, 2018, respectively. Gross Amounts Not Offset in the Gross Amounts Offset in the Amounts Presented in the Statements of Financial Condition Gross Statements of Statements of Cash Collateral Amounts Financial Financial Financial Received/ March 31, 2019 Recognized Condition Condition Instruments Pledged* Net Amount Assets Futures $ 838,035 $ (838,035 ) $ - $ - $ - $ - Total assets $ 838,035 $ (838,035 ) $ - $ - $ - $ - Liabilities Futures $ (840,041 ) $ 838,035 $ (2,006 ) $ - $ 2,006 $ - Total liabilities $ (840,041 ) $ 838,035 $ (2,006 ) $ - $ 2,006 $ - Net fair value $ - * Gross Amounts Not Offset in the Gross Amounts Offset in the Amounts Presented in the Statements of Financial Condition Gross Statements of Statements of Cash Collateral Amounts Financial Financial Financial Received/ December 31, 2018 Recognized Condition Condition Instruments Pledged* Net Amount Assets Futures $ 851,529 $ (757,896 ) $ 93,633 $ - $ - $ 93,633 Total assets $ 851,529 $ (757,896 ) $ 93,633 $ - $ - $ 93,633 Liabilities Futures $ (757,896 ) $ 757,896 $ - $ - $ - $ - Total liabilities $ (757,896 ) $ 757,896 $ - $ - $ - $ - Net fair value $ 93,633 * * In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s non-exchange-traded 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. In certain instances, MS&Co. may not post collateral 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 funds may be available in the event of a default.
Gross Fair Values of Derivative Instruments of Futures, Forward and Option Contracts Traded	The following tables indicate the gross fair values of derivative instruments of futures contracts held directly by the Partnership as separate assets and liabilities as of March 31, 2019 and December 31, 2018, respectively. Assets March 31, 2019 Futures Contracts Currencies $ 32,389 Energy 52,129 Grains 87,829 Indices 87,409 Interest Rates U.S. 246,054 Interest Rates Non-U.S. 172,360 Livestock 1,780 Metals 10,599 Softs 147,486 Total unrealized appreciation on open futures contracts 838,035 Liabilities Futures Contracts Currencies (82,343 ) Energy (80,456 ) Grains (115,309 ) Indices (95,760 ) Interest Rates U.S. (35,600 ) Interest Rates Non-U.S. (200,220 ) Livestock (13,820 ) Metals (46,697 ) Softs (169,836 ) Total unrealized depreciation on open futures contracts (840,041 ) Net unrealized depreciation on open futures contracts $ (2,006 )* * This amount is in “Net unrealized depreciation on open futures contracts” in the Statements of Financial Condition. Assets December 31, 2018 Futures Contracts Currencies $ 117,929 Energy 84,783 Grains 59,786 Indices 188,979 Interest Rates U.S. 110,603 Interest Rates Non-U.S. 239,824 Livestock 6,430 Metals 23,688 Softs 19,507 Total unrealized appreciation on open futures contracts 851,529 Liabilities Futures Contracts Currencies (148,721 ) Energy (103,128 ) Grains (116,823 ) Indices (101,999 ) Interest Rates U.S. (100,422 ) Interest Rates Non-U.S. (127,847 ) Livestock (2,880 ) Metals (5,835 ) Softs (50,241 ) Total unrealized depreciation on open futures contracts (757,896 ) Net unrealized appreciation on open futures contracts $ 93,633 * * This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition.
Trading Gains and Losses by Market Sector on Derivative Instruments Traded	The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the three months ended March 31, 2019 and 2018, respectively. Three Months Ended March 31, Sector 2019 2018 Currencies $ (309,098 ) $ (434,926 ) Energy (179,250 ) (44,432 ) Grains (140,381 ) 80,568 Indices (299,984 ) 660,657 Interest Rates U.S. 283,134 (46,375 ) Interest Rates Non-U.S. 85,882 297,138 Livestock (52,010 ) 7,920 Metals (27,593 ) (32,305 ) Softs (68,539 ) (7,374 ) Total $ (707,839 ) ** $ 480,871 ** ** This amount is included in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	March 31, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 838,035 $ 838,035 $ - $ - Total assets $ 838,035 $ 838,035 $ - $ - Liabilities Futures $ 840,041 $ 840,041 $ - $ - Total liabilities $ 840,041 $ 840,041 $ - $ - December 31, 2018 Total Level 1 Level 2 Level 3 Assets Futures $ 851,529 $ 851,529 $ - $ - Total assets $ 851,529 $ 851,529 $ - $ - Liabilities Futures $ 757,896 $ 757,896 $ - $ - Total liabilities $ 757,896 $ 757,896 $ - $ -

Investment in the Funds (Tables

Investment in the Funds (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Investments [Abstract]
Assets, Liabilities and Capital of Funds	Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Funds is shown in the following tables: March 31, 2019 Total Assets Total Liabilities Total Capital SECOR Master $ 42,956,875 $ 645,175 $ 42,311,700 Harbour Square Master 5,311,909 5,311,909 - AE Capital Master 18,810,537 111,558 18,698,979 December 31, 2018 Total Assets Total Liabilities Total Capital SECOR Master $ 37,347,676 $ 2,170,539 $ 35,177,137 Harbour Square Master 10,504,910 2,532,233 7,972,677 AE Capital Master 19,758,302 99,954 19,658,348
Net Investment Income (Loss), Total Trading Results and Net Income (Loss) for Funds	Summarized information reflecting the net investment income (loss), total trading results and net income (loss) of the Funds is shown in the following tables: For the three months ended March 31, 2019 Net Investment Income (Loss) Total Trading Results Net Income (Loss) SECOR Master $ (47,181 ) $ 3,326,837 $ 3,279,656 Harbour Square Master (14,678 ) 160,848 146,170 AE Capital Master 86,493 (895,582 ) (809,089 ) For the three months ended March 31, 2018 Net Investment Income (Loss) Total Trading Results Net Income (Loss) SECOR Master $ (50,101 ) $ 3,566,528 $ 3,516,427 Cambridge Master 85,288 2,010,327 2,095,615 Harbour Square Master 65,272 866,131 931,403 AE Capital Master (a) 38,714 (155,473 ) (116,759 ) (a) From February 1, 2018, commencement of operations for AE Capital Master, through March 31, 2018.
Partnership's Investments in, and Partnership's Pro Rata Share of Results of Operations of Funds	Summarized information reflecting the Partnership’s investments in and the Partnership’s pro-rata share of the results of operations of the Funds is shown in the following tables: March 31, 2019 For the three months ended March 31, 2019 % of Expenses Net Funds Partners’ Capital Fair Value Income (Loss) Clearing Fees Professional Fees Income (Loss) Investment Objective Redemptions Permitted SECOR Master 20.42 % $ 5,357,900 $ 441,552 $ 27,851 $ 2,002 $ 411,699 Commodity Portfolio Monthly Harbour Square Master - % - 56,578 3,271 11,879 41,428 Commodity Portfolio Monthly AE Capital Master 8.08 % 2,120,788 (89,510 ) 1,895 1,918 (93,323 ) Commodity Portfolio Monthly Total $ 7,478,688 $ 408,620 $ 33,017 $ 15,799 $ 359,804 December 31, 2018 For the three months ended March 31, 2018 % of Expenses Net Funds Partners’ Capital Fair Value Income Clearing Fees Professional Fees Income (Loss) Investment Objective Redemptions Permitted SECOR Master 18.00 % $ 5,373,355 $ 547,001 $ 21,021 $ 2,541 $ 523,439 Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 366,446 5,036 6,304 355,106 Commodity Portfolio Monthly AE Capital Master (a) 8.71 % 2,600,215 (15,377 ) 511 1,820 (17,708 ) Commodity Portfolio Monthly Cambridge Master - % - 17,235 358 222 16,655 Commodity Portfolio Monthly Total $ 10,478,871 $ 915,305 $ 26,926 $ 10,887 $ 877,492 (a) From February 1, 2018, the date the Partnership invested into AE Capital Master, through March 31, 2018.

Organization - Additional Infor

Organization - Additional Information (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Aug. 05, 2004
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of redeemable units of limited partnership interest issued and sold during initial public offering				20,872
Redeemable Units per share				$ 1,000
Maximum number of Redeemable Units sold by the Partnership			0
Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Management fees description	The Partnership has entered into a selling agreement with Morgan Stanley Smith Barney LLC, doing business as Morgan Stanley Wealth Management (“Morgan Stanley Wealth Management”) (the “Selling Agreement”). Under the Selling Agreement, the Partnership pays Morgan Stanley Wealth Management a monthly ongoing selling agent fee equal to (i) 2.00% per year of adjusted month-end net assets for Class A Redeemable Units and (ii) 0.75% per year of adjusted month-end net assets for Class D Redeemable Units.
Class D Redeemable Units [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Limited Partner Capital Account Redeemable Unit outstanding	0
Class D Redeemable Units [Member] | Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ongoing selling agent fee	0.75%
Class A Redeemable Units [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Limited Partner Capital Account Redeemable Unit outstanding	22,999.9160	25,573
Class A Redeemable Units [Member] | Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ongoing selling agent fee	2.00%
Maximum [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of partnership assets allocated	10.00%

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash denominated in foreign currencies	$ (139,377)	$ (53,834)
Cash denominated in foreign currencies, proceeds	140,708	54,680
Restricted cash held for margin	2,441,910	$ 2,756,546
Uncertain tax position	$ 0
Open tax year	2015 2016 2017 2018

Financial Highlights - Schedule

Financial Highlights - Schedule of Changes in Net Asset Value (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class A Redeemable Units [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	$ (14.84)	$ 38.13
Net investment loss	(13.08)	(13.34)
Increase (decrease) for the period	(27.92)	24.79
Net asset value per Redeemable Unit, beginning of period	1,151.83	1,162.18
Net asset value per Redeemable Unit, end of period	1,123.91	1,186.97
Class Z Redeemable Units [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	(12.67)	31.35
Net investment loss	(5.94)	(6.11)
Increase (decrease) for the period	(18.61)	25.24
Net asset value per Redeemable Unit, beginning of period	964.03	953.31
Net asset value per Redeemable Unit, end of period	$ 945.42	$ 978.55

Financial Highlights - Ratios t

Financial Highlights - Ratios to Average Net Assets (Detail)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Class A Redeemable Units [Member]
Ratios to Average Limited Partners' Capital:
Net investment loss	(4.80%)	(4.70%)
Operating expenses	6.90%	6.00%
Incentive fees	0.00%
Total expenses	6.90%	6.00%
Total return:
Total return before incentive fees	(2.50%)	2.10%
Incentive fees	0.00%
Total return after incentive fees	(2.40%)	2.10%
Class Z Redeemable Units [Member]
Ratios to Average Limited Partners' Capital:
Net investment loss	(2.70%)	(2.60%)
Operating expenses	4.70%	3.90%
Incentive fees	0.00%
Total expenses	4.70%	3.90%
Total return:
Total return before incentive fees	(1.90%)	2.60%
Incentive fees	0.00%
Total return after incentive fees	(1.90%)	2.60%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Futures Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held	2,002	1,738
Options Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held	0	567
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional value of derivative | $	$ 0	$ 14,041,522

Trading Activities - Summary of

Trading Activities - Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 838,035	$ 851,529
Gross Amounts Offset in the Statements of Financial Condition, Assets	(838,035)	(757,896)
Amounts Presented in the Statements of Financial Condition, Assets	0	93,633
Financial Instruments, Assets	0	0
Cash Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	0	93,633
Gross Amounts Recognized, Liabilities	(840,041)	(757,896)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	838,035	757,896
Amounts Presented in the Statements of Financial Condition, Liabilities	(2,006)	0
Financial Instruments, Liabilities	0	0
Cash Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	(2,006)	0
Net Fair Value	(2,006)	93,633
Futures Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	838,035	851,529
Gross Amounts Offset in the Statements of Financial Condition, Assets	(838,035)	(757,896)
Amounts Presented in the Statements of Financial Condition, Assets	0	93,633
Financial Instruments, Assets	0	0
Cash Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	0	93,633
Gross Amounts Recognized, Liabilities	(840,041)	(757,896)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	838,035	757,896
Amounts Presented in the Statements of Financial Condition, Liabilities	(2,006)	0
Financial Instruments, Liabilities	0	0
Cash Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	$ (2,006)	$ 0

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded (Detail) - Futures Contracts [Member] - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total unrealized appreciation on open contracts	$ 838,035	$ 851,529
Total unrealized depreciation on open contracts	(840,041)	(757,896)
Net unrealized appreciation (depreciation) on open contracts	(2,006)	93,633
Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	32,389	117,929
Total unrealized depreciation on open contracts	(82,343)	(148,721)
Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	52,129	84,783
Total unrealized depreciation on open contracts	(80,456)	(103,128)
Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	87,829	59,786
Total unrealized depreciation on open contracts	(115,309)	(116,823)
Indices [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	87,409	188,979
Total unrealized depreciation on open contracts	(95,760)	(101,999)
Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	246,054	110,603
Total unrealized depreciation on open contracts	(35,600)	(100,422)
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	172,360	239,824
Total unrealized depreciation on open contracts	(200,220)	(127,847)
Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	1,780	6,430
Total unrealized depreciation on open contracts	(13,820)	(2,880)
Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	10,599	23,688
Total unrealized depreciation on open contracts	(46,697)	(5,835)
Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	147,486	19,507
Total unrealized depreciation on open contracts	$ (169,836)	$ (50,241)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses by Market Sector on Derivative Instruments Traded (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total trading results	$ (707,839)	$ 480,871
Currencies [Member]
Derivative [Line Items]
Total trading results	(309,098)	(434,926)
Energy [Member]
Derivative [Line Items]
Total trading results	(179,250)	(44,432)
Grains [Member]
Derivative [Line Items]
Total trading results	(140,381)	80,568
Indices [Member]
Derivative [Line Items]
Total trading results	(299,984)	660,657
Interest Rates U.S. [Member]
Derivative [Line Items]
Total trading results	283,134	(46,375)
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total trading results	85,882	297,138
Livestock [Member]
Derivative [Line Items]
Total trading results	(52,010)	7,920
Metals [Member]
Derivative [Line Items]
Total trading results	(27,593)	(32,305)
Softs [Member]
Derivative [Line Items]
Total trading results	$ (68,539)	$ (7,374)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - DerivativeInstrument	Mar. 31, 2019	Dec. 31, 2018
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments held	0	0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Assets
Total assets	$ 838,035	$ 851,529
Liabilities
Total liabilities	840,041	757,896
Futures Contracts [Member]
Assets
Total assets	838,035	851,529
Liabilities
Total liabilities	840,041	757,896
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]
Assets
Total assets	838,035	851,529
Liabilities
Total liabilities	840,041	757,896
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Futures Contracts [Member]
Assets
Total assets	838,035	851,529
Liabilities
Total liabilities	840,041	757,896
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 2) [Member]
Assets
Total assets	0
Liabilities
Total liabilities	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 2) [Member] | Futures Contracts [Member]
Assets
Total assets	0
Liabilities
Total liabilities	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 3) [Member]
Assets
Total assets	0
Liabilities
Total liabilities	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 3) [Member] | Futures Contracts [Member]
Assets
Total assets	0
Liabilities
Total liabilities	$ 0

Investment in the Funds - Addit

Investment in the Funds - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
SECOR Master Fund L.P. [Member]
Investment [Line Items]
Percentage owned by partnership	12.60%	15.30%
CMF Harbour Square Master Fund LLC [Member]
Investment [Line Items]
Percentage owned by partnership		31.30%
CMF AE Capital Master Fund LLC [Member]
Investment [Line Items]
Percentage owned by partnership	11.30%	13.20%
Maximum [Member] | SECOR [Member]
Investment [Line Items]
Maximum amount of partnership assets allocated to trading advisor	1.5

Investment in the Funds - Asset

Investment in the Funds - Assets, Liabilities and Capital of Funds (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Total Assets	$ 27,712,544	$ 32,635,565
Total Liabilities	1,467,662	2,776,892
Total Partners' Capital	26,244,882	29,858,673	$ 40,305,945	$ 41,742,612
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets	42,956,875	37,347,676
Total Liabilities	645,175	2,170,539
Total Partners' Capital	42,311,700	35,177,137
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Total Assets	5,311,909	10,504,910
Total Liabilities	5,311,909	2,532,233
Total Partners' Capital		7,972,677
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Total Assets	18,810,537	19,758,302
Total Liabilities	111,558	99,954
Total Partners' Capital	$ 18,698,979	$ 19,658,348

Investment in the Funds - Net I

Investment in the Funds - Net Investment Income (Loss), Total Trading Results and Net Income (Loss) for Funds (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investment Holdings [Line Items]
Net Investment Income (Loss)	$ (327,729)	$ (467,948)
Total Trading Results	(348,630)	1,334,136
Net income (loss)	(676,359)	866,188
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(47,181)	(50,101)
Total Trading Results	3,326,837	3,566,528
Net income (loss)	3,279,656	3,516,427
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	(14,678)	65,272
Total Trading Results	160,848	866,131
Net income (loss)	146,170	931,403
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)	86,493	38,714
Total Trading Results	(895,582)	(155,473)
Net income (loss)	$ (809,089)	(116,759)
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		85,288
Total Trading Results		2,010,327
Net income (loss)		$ 2,095,615

Investment in the Funds - Partn

Investment in the Funds - Partnership's Investments in, and Partnership's Pro Rata Share of Results of Operations of Funds (Detail) (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Investment Holdings [Line Items]
% of Partners' Capital		28.50%		35.10%
Fair Value	[1]	$ 7,478,688		$ 10,478,871
Income (Loss)		(348,630)	$ 1,334,136
Expenses, Clearing Fees		37,691	54,848
Expenses, Professional fees		94,059	80,629
Net income (loss)		$ (676,359)	$ 866,188
Investment Objective			Commodity Portfolio
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partners' Capital		20.42%		18.00%
Fair Value		$ 5,357,900		$ 5,373,355
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partners' Capital
Fair Value
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
% of Partners' Capital		0.00%		8.39%
Fair Value		$ 0		$ 2,505,301
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
% of Partners' Capital		8.08%		8.71%
Fair Value		$ 2,120,788		$ 2,600,215
Investment in Funds [Member]
Investment Holdings [Line Items]
Income (Loss)		408,620	$ 915,305
Expenses, Clearing Fees		33,017	26,926
Expenses, Professional fees		15,799	10,887
Net income (loss)		359,804	877,492
Investment in Funds [Member] | Commodity [Member] | SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Income (Loss)		441,552	547,001
Expenses, Clearing Fees		27,851	21,021
Expenses, Professional fees		2,002	2,541
Net income (loss)		$ 411,699	$ 523,439
Investment Objective		Commodity Portfolio
Redemptions Permitted		Monthly	Monthly
Investment in Funds [Member] | Commodity [Member] | Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Income (Loss)			$ 17,235
Expenses, Clearing Fees			358
Expenses, Professional fees			222
Net income (loss)			$ 16,655
Investment Objective			Commodity Portfolio
Redemptions Permitted			Monthly
Investment in Funds [Member] | Commodity [Member] | CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Income (Loss)		$ 56,578	$ 366,446
Expenses, Clearing Fees		3,271	5,036
Expenses, Professional fees		11,879	6,304
Net income (loss)		$ 41,428	$ 355,106
Investment Objective		Commodity Portfolio	Commodity Portfolio
Redemptions Permitted		Monthly	Monthly
Investment in Funds [Member] | Commodity [Member] | CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Income (Loss)		$ (89,510)	$ (15,377)
Expenses, Clearing Fees		1,895	511
Expenses, Professional fees		1,918	1,820
Net income (loss)		$ (93,323)	$ (17,708)
Investment Objective		Commodity Portfolio	Commodity Portfolio
Redemptions Permitted		Monthly	Monthly
[1]	Defined in Note 1.

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Concentration Risk [Line Items]
Financial instruments maturity period	1 year
Minimum [Member] | Credit Concentration Risk [Member] | Partnership's/Funds' Contracts [Member] | Over the Counter [Member]
Concentration Risk [Line Items]
Concentration risk percentage	7.90%
Maximum [Member] | Credit Concentration Risk [Member] | Partnership's/Funds' Contracts [Member] | Over the Counter [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20.80%