Emerging Cta Portfolio 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
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 Current Reporting Status	Yes
Entity Small Business	false
Entity Address, State or Province	NY
Entity Incorporation, State or Country Code	NY
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Class A Redeemable Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,159.7440
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 ($)		Sep. 30, 2019	Dec. 31, 2018
Assets:
Investment in the Funds, at fair value	[1]	$ 0	$ 10,478,871
Redemptions receivable from the Funds		0	2,523,092
Equity in trading account:
Unrestricted cash		20,816,188	16,750,928
Restricted cash		3,705,485	2,756,546
Net unrealized appreciation on open futures contracts		150,288	93,633
Total equity in trading account		24,671,961	19,601,107
Interest receivable		34,871	32,495
Total assets		24,706,832	32,635,565
Accrued expenses:
Ongoing selling agent fees		40,695	53,716
Management fees		22,975	31,371
General Partner fees		20,444	27,083
Incentive fees			62,039
Professional fees		174,297	135,521
Redemptions payable to Limited Partners		488,025	2,467,162
Total liabilities		746,436	2,776,892
Partners' Capital:
Total partners' capital (net asset value)		23,960,396	29,858,673
Total liabilities and partners' capital		24,706,832	32,635,565
Class A Redeemable Units [Member]
Partners' Capital:
Limited Partners		23,673,273	29,455,757
Total partners' capital (net asset value)		$ 23,673,273	$ 29,455,757
Net asset value per Redeemable Unit:
Net asset value per Redeemable Unit		$ 1,161.45	$ 1,151.83
Class Z Redeemable Units [Member]
Partners' Capital:
General Partner		$ 266,136	$ 382,416
Limited Partners		20,987	20,500
Total partners' capital (net asset value)		$ 287,123	$ 402,916
Net asset value per Redeemable Unit:
Net asset value per Redeemable Unit		$ 986.92	$ 964.03
[1]	Defined in Note 1.

Statements of Financial Condi_2

Statements of Financial Condition (Parenthetical) - shares	Sep. 30, 2019	Dec. 31, 2018
Class A Redeemable Units [Member]
Limited Partners Redeemable Units outstanding	20,382.5290	25,573
Class Z Redeemable Units [Member]
General Partner Redeemable Units outstanding	269.6640	396.6850
Limited Partners Redeemable Units outstanding	21.2650	21.2650

Condensed Schedule of Investmen

Condensed Schedule of Investments		Sep. 30, 2019USD ($)Contract		Dec. 31, 2018USD ($)Contract
Schedule of Investments [Line Items]
% of Partners' Capital				35.10%
Total investment in the Funds	[1]	$ 0		$ 10,478,871
Futures Contracts [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open futures contracts		$ 150,288		$ 93,633
% of Partners' Capital		0.63%		0.31%
Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open futures contracts		$ (157,007)		$ 201,796
% of Partners' Capital		(0.65%)		0.68%
Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Net unrealized appreciation on open futures contracts		$ 307,295		$ (108,163)
% of Partners' Capital		1.28%		(0.37%)
SECOR Master Fund L.P. [Member]
Schedule of Investments [Line Items]
% of Partners' Capital				18.00%
Total investment in the Funds				$ 5,373,355
CMF Harbour Square Master Fund LLC [Member]
Schedule of Investments [Line Items]
% of Partners' Capital				8.39%
Total investment in the Funds				$ 2,505,301
CMF AE Capital Master Fund LLC [Member]
Schedule of Investments [Line Items]
% of Partners' Capital				8.71%
Total investment in the Funds				$ 2,600,215
Currencies [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		186		212
Net unrealized appreciation on open futures contracts		$ (118,105)		$ (26,777)
% of Partners' Capital		(0.49%)		(0.09%)
Currencies [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		213		104
Net unrealized appreciation on open futures contracts		$ 20,104		$ (4,015)
% of Partners' Capital		0.08%		(0.01%)
Energy [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		48		33
Net unrealized appreciation on open futures contracts		$ (29,947)		$ (96,130)
% of Partners' Capital		(0.11%)		(0.32%)
Energy [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		72		32
Net unrealized appreciation on open futures contracts		$ 186,540		$ 77,785
% of Partners' Capital		0.78%		0.26%
Grains [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		48		225
Net unrealized appreciation on open futures contracts		$ 35,156		$ (84,112)
% of Partners' Capital		0.15%		(0.28%)
Grains [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		41		190
Net unrealized appreciation on open futures contracts		$ (23,198)		$ 27,075
% of Partners' Capital		(0.10%)		0.09%
Indices [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		333		209
Net unrealized appreciation on open futures contracts		$ 168,393		$ 78,137
% of Partners' Capital		0.70%		0.26%
Indices [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		432		68
Net unrealized appreciation on open futures contracts		$ 44,923		$ 8,843
% of Partners' Capital		0.19%		0.03%
Interest Rates Non-U.S. [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		345		441
Net unrealized appreciation on open futures contracts		$ 1,077		$ 224,279
% of Partners' Capital		0.00%	[2]	0.75%
Interest Rates Non-U.S. [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		379		215
Net unrealized appreciation on open futures contracts		$ (82,716)		$ (112,302)
% of Partners' Capital		(0.34%)		(0.38%)
Livestock [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		20		13
Net unrealized appreciation on open futures contracts		$ 24,660		$ 5,100
% of Partners' Capital		0.10%		0.02%
Livestock [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract				11
Net unrealized appreciation on open futures contracts				$ (1,550)
% of Partners' Capital				(0.01%)
Metals [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		59		15
Net unrealized appreciation on open futures contracts		$ (116,629)		$ 18,336
% of Partners' Capital		(0.49%)		0.06%
Metals [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract				4
Net unrealized appreciation on open futures contracts				$ (483)
% of Partners' Capital	[2]			0.00%
Softs [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		50		37
Net unrealized appreciation on open futures contracts		$ (138,735)		$ (23,859)
% of Partners' Capital		(0.58%)		(0.08%)
Softs [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		100		111
Net unrealized appreciation on open futures contracts		$ 161,642		$ (6,875)
% of Partners' Capital		0.67%		(0.02%)
Interest Rates U.S. [Member] | Futures Contracts [Member] | Long [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract		117		103
Net unrealized appreciation on open futures contracts		$ 17,123		$ 106,822
% of Partners' Capital		0.07%		0.36%
Interest Rates U.S. [Member] | Futures Contracts [Member] | Short [Member]
Schedule of Investments [Line Items]
Number of Contracts | Contract				57
Net unrealized appreciation on open futures contracts				$ (96,641)
% of Partners' Capital				(0.33%)
[1]	Defined in Note 1.
[2]	Due to rounding.

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investment Income:
Interest income		$ 110,267	$ 44,893	$ 298,782	$ 171,186
Interest income allocated from the Funds			111,403	78,975	270,827
Total investment income		110,267	156,296	377,757	442,013
Expenses:
Expenses allocated from the Funds			70,609	85,308	168,629
Clearing fees related to direct investments		58,684	25,251	142,963	120,587
Ongoing selling agent fees		123,467	183,960	395,902	584,582
Management fees		69,560	113,735	224,697	354,035
General Partner fees		62,055	92,853	199,430	294,844
Incentive fees				(48,436)
Professional fees		74,916	92,789	244,202	253,233
Total expenses		388,682	579,197	1,244,066	1,775,910
Net investment loss		(278,415)	(422,901)	(866,309)	(1,333,897)
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net realized gains (losses) on closed contracts		787,650	390,043	711,997	327,396
Net realized gains (losses) on closed contracts allocated from the Funds			(234,125)	197,738	359,402
Net change in unrealized gains (losses) on open contracts		(348,120)	248,298	56,876	250,482
Net change in unrealized gains (losses) on open contracts allocated from the Funds			(815,673)	47,655	(166,946)
Total trading results		439,530	(411,457)	1,014,266	770,334
Net income (loss)		161,115	(834,358)	147,957	(563,563)
Class A Redeemable Units [Member]
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss)		$ 157,834	$ (826,136)	$ 141,754	$ (564,046)
Net income (loss) per Redeemable Unit	[1]	$ 7.47	$ (26.92)	$ 9.62	$ (19.47)
Weighted average Redeemable Units outstanding		21,095.0010	31,563.7867	22,786.2310	33,205.2276
Class Z Redeemable Units [Member]
Net gains (losses) on trading of commodity interests and investment in the Funds:
Net income (loss)		$ 3,281	$ (8,222)	$ 6,203	$ 483
Net income (loss) per Redeemable Unit	[1]	$ 11.28	$ (17.53)	$ 22.89	$ (1.72)
Weighted average Redeemable Units outstanding		290.9290	469.0740	352.3937	486.1060
[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 Z Redeemable Units [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
Partners' Capital, Balance - Redeemable Units at Dec. 31, 2017	36,010.9960			35,490.8260		520.1700
Subscriptions		$ 50,000			$ 50,000
Subscriptions - Redeemable Units		433,540			433,540
Redemptions		$ (6,479,181)	$ (50,000)		$ (6,479,181)		$ (50,000)
Redemptions - Redeemable Units		(5,558.5340)	(51.0960)		(5,558.5340)		(51.0960)
Net income (loss)	$ (563,563)			$ (564,046)		$ 483
Partners' Capital, end of period at Sep. 30, 2018	$ 34,699,868			$ 34,253,502		$ 446,366
Partners' Capital, Balance - Redeemable Units at Sep. 30, 2018	30,444.7200			29,975.6460		469.0740
Partners' Capital, beginning of period at Jun. 30, 2018	$ 38,233,383			$ 37,778,795		$ 454,588
Partners' Capital, Balance - Redeemable Units at Jun. 30, 2018	32,768.9640			32,299.8900		469.0740
Redemptions		$ (2,699,157)			$ (2,699,157)
Redemptions - Redeemable Units		(2,324.2440)			(2,324.2440)
Net income (loss)	$ (834,358)			$ (826,136)		$ (8,222)
Partners' Capital, end of period at Sep. 30, 2018	$ 34,699,868			$ 34,253,502		$ 446,366
Partners' Capital, Balance - Redeemable Units at Sep. 30, 2018	30,444.7200			29,975.6460		469.0740
Partners' Capital, beginning of period at Dec. 31, 2018	$ 29,858,673			$ 29,455,757		$ 402,916
Partners' Capital, Balance - Redeemable Units at Dec. 31, 2018	25,990.9500			25,573		417.9500
Redemptions		$ (5,924,238)	$ (121,996)		$ (5,924,238)		$ (121,996)
Redemptions - Redeemable Units		(5,190.4710)	(127.0210)		(5,190.4710)		(127.0210)
Net income (loss)	$ 147,957			$ 141,754		$ 6,203
Partners' Capital, end of period at Sep. 30, 2019	$ 23,960,396			$ 23,673,273		$ 287,123
Partners' Capital, Balance - Redeemable Units at Sep. 30, 2019	20,673.4580			20,382.5290		290.9290
Partners' Capital, beginning of period at Jun. 30, 2019	$ 25,018,967			$ 24,735,125		$ 283,842
Partners' Capital, Balance - Redeemable Units at Jun. 30, 2019	21,725.4590			21,434.5300		290.9290
Redemptions		$ (1,219,686)			$ (1,219,686)
Redemptions - Redeemable Units		(1,052.0010)			(1,052.0010)
Net income (loss)	$ 161,115			$ 157,834		$ 3,281
Partners' Capital, end of period at Sep. 30, 2019	$ 23,960,396			$ 23,673,273		$ 287,123
Partners' Capital, Balance - Redeemable Units at Sep. 30, 2019	20,673.4580			20,382.5290		290.9290

Organization

Organization	9 Months Ended
	Sep. 30, 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 United States (“U.S.”) and non-U.S. .S. 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 and was the trading manager (the “Trading Manager”) of AE Capital Master (as defined below) and Harbour Square Master (as defined below), respectively. 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 September 30, 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. During prior periods included in this report, the Partnership/Funds deposited a portion of their cash in non-trading 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. As of September 30, 2019, all trading decisions were made for the Partnership by Independent View BV (“Independent View”) and Katonah Capital Partners Management, LLC (“Katonah”) (each an “Advisor” and, collectively, the “Advisors”). Effective June 30, 2019, SECOR Capital Advisors, LP (“SECOR”) ceased to act as a commodity trading advisor to the Partnership. Effective April 3, 2019, AE Capital PTY Limited (“AE Capital”) ceased to act as a commodity trading advisor to the Partnership. 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 SECOR, AE Capital, 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 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. The General Partner and Katonah have agreed that Katonah will trade the Partnership’s assets allocated to Katonah at a level that is up to 1.5 times the amount of the assets allocated. 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 name. The General Partner and Independent View have agreed that Independent View will trade the Partnership’s assets allocated to Independent View at a level that is up to 1.5 times the amount of the assets allocated. 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 has, and (prior to their respective terminations) SECOR Master Fund L.P. (“SECOR Master”), CMF AE Capital Master Fund LLC (“AE Capital Master”) and 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. References herein to “Funds” may also include as relevant, references to SECOR Master, AE Capital Master, 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, Effective July 12, 2017 and prior to their respective terminations, SECOR Master and 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 d 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” were 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 month-end In July 2015, the General Partner delegated certain administrative functions to SS&C Technologies, Inc., a Delaware corporation, currently doing business as SS&C GlobeOp (the “Administrator”). Pursuant to a master services agreement, the Administrator furnishes certain administrative, accounting, regulatory reporting, tax and other services as agreed from time to time. In addition, the Administrator maintains certain books and records of the Partnership. The cost of retaining the Administrator is allocated among the pools operated by the General Partner, including the Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies: The financial statements and accompanying notes are unaudited but, in the opinion of the General Partner, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Partnership’s financial condition at September 30, 2019 and the results of its operations and changes in partners’ capital for the three and nine months ended September 30, 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 10-K”) Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year. Use of Estimates. c Profit Allocation. Statement of Cash Flows. Statement of Cash Flows Partnership’s Investment in the Funds. Partnership’s/Funds’ Derivative Investments. first-in, first-out 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. Income Taxes. Income Taxes “more-likely-than-not” more-likely-than-not Investment Company Status. 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements” Net Income (Loss) Per Redeemable Unit. “Financial Services – Investment Companies.” There have been no material changes with respect to the Partnership’s critical accounting policies as reported in the Partnership’s Annual Report on Form 10-K

Financial Highlights

Financial Highlights	9 Months Ended
	Sep. 30, 2019
Investment Company [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner Classes as a whole for the three and nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Class A Class Z Class A Class Z 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) $ 20.58 $ 17.43 $ (13.61) $ (11.32) $ 47.37 $ 40.20 $ 20.43 $ 16.71 Net investment loss (13.11) (6.15) (13.31) (6.21) (37.75) (17.31) (39.90) (18.43) Increase (decrease) for the period 7.47 11.28 (26.92) (17.53) 9.62 22.89 (19.47) (1.72) Net asset value per Redeemable Unit, beginning of period 1,153.98 975.64 1,169.63 969.12 1,151.83 964.03 1,162.18 953.31 Net asset value per Redeemable Unit, end of period $ 1,161.45 $ 986.92 $ 1,142.71 $ 951.59 $ 1,161.45 $ 986.92 $ 1,142.71 $ 951.59 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class Z Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.5) % (2.5) % (4.6) % (2.5) % (4.5) % (2.4) % (4.6) % (2.6) % Operating expenses 6.3 % 4.3 % 6.3 % 4.2 % 6.6 % 4.5 % 6.1 % 4.1 % Incentive fees - % - % - % - % (0.2) % (0.2) % - % - % Total expenses 6.3 % 4.3 % 6.3 % 4.2 % 6.4 % 4.3 % 6.1 % 4.1 % Total return: Total return before incentive fees 0.6 % 1.2 % (2.3) % (1.8) % 0.7 % 2.2 % (1.7) % (0.2) % Incentive fees - % - % - % - % 0.1 % 0.2 % - % - % Total return after incentive fees 0.6 % 1.2 % (2.3) % (1.8) % 0.8 % 2.4 % (1.7) % (0.2) % * 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. 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	9 Months Ended
	Sep. 30, 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 The futures brokerage account agreements with MS&Co. give the Partnership and gave 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 nets and the Funds netted, 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, 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 September 30, 2019 and 2018 were 2,508 and 1,773, respectively. The monthly average number of futures contracts traded directly by the Partnership during the nine months ended September 30, 2019 and 2018 were 2,241 and 1,663, respectively. No option contracts were traded directly by the Partnership during the three months ended September 30, 2019 and 2018. The monthly average number of option contracts traded directly by the Partnership during the nine months ended September 30, 2019 and 2018 were 0 and 241, respectively. No currency forward contracts were traded directly by the Partnership during the three months ended September 30, 2019 and 2018. The monthly average notional value of currency forward contracts traded directly by the Partnership during the nine months ended September 30, 2019 and 2018 were $0 and $4,680,507, 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 were borne by the Funds and 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 September 30, 2019 and December 31, 2018, respectively. September 30, 2019 Gross Gross Amounts Statements of Amounts Statements of Gross Amounts Not Offset in the Financial Cash Collateral Pledged* Net Amount Assets Futures $ 949,661 $ (799,373) $ 150,288 $ - $ - $ 150,288 Total assets $ 949,661 $ (799,373) $ 150,288 $ - $ - $ 150,288 Liabilities Futures $ (799,373) $ 799,373 $ - $ - $ - $ - Total liabilities $ (799,373) $ 799,373 $ - $ - $ - $ - Net fair value $ 150,288 * December 31, 2018 Gross Gross Amounts Statements of Condition Amounts Statements of Condition Gross Amounts Not Offset in the Net Amount Financial Cash Collateral Pledged* 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 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 September 30, 2019 and December 31, 2018, respectively. Assets September 30, 2019 Futures Contracts Currencies $ 29,684 Energy 223,555 Grains 36,771 Indices 294,942 Interest Rates U.S. 51,987 Interest Rates Non-U.S. 96,167 Livestock 35,730 Metals 8,044 Softs 172,781 Total unrealized appreciation on open futures contracts 949,661 Liabilities Futures Contracts Currencies (127,685) Energy (66,962) Grains (24,813) Indices (81,626) Interest Rates U.S. (34,864) Interest Rates Non-U.S. (177,806) Livestock (11,070) Metals (124,673) Softs (149,874) Total unrealized depreciation on open futures contracts (799,373) Net unrealized appreciation on open futures contracts $ 150,288 * * This amount is in “Net unrealized appreciation 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 and nine months ended September 30, 2019 and 2018, respectively. Three Months Ended Nine Months Ended Sector 2019 2018 2019 2018 Currencies $ (915,087) $ 203,365 $ (772,203) $ (454,761) Energy 175,781 320,492 (78,964) 588,786 Grains (73,697) 74,104 (553,595) (40,938) Indices 345,243 (136,782) (38,089) 439,405 Interest Rates U.S. 474,420 82,547 1,433,600 60,571 Interest Rates Non-U.S. (108,602) (108,564) 291,762 (72,145) Livestock 2,982 (38,540) (74,398) (92,450) Metals 516,133 293,060 747,131 199,245 Softs 22,357 (51,341) (186,371) (49,835) Total $ 439,530 ** $ 638,341 ** $ 768,873 ** $ 577,878 ** ** This amount is included in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Partnership’s and the Funds’ Fair Value Measurements. The fair value of exchange-traded futures, option and forward contracts is determined by the various​​​​​​​ exchanges, and reflects the settlement price for each contract as of the close of business on the last business day of the reporting period. The fair value of foreign currency forward contracts is extrapolated on a forward basis from the spot prices quoted as of approximately 3:00 P.M. (E.T.) on the last business day of the reporting period from various exchanges. The fair value of non-exchange-traded 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 September 30, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 949,661 $ 949,661 $ - $ - Total assets $ 949,661 $ 949,661 $ - $ - Liabilities Futures $ 799,373 $ 799,373 $ - $ - Total liabilities $ 799,373 $ 799,373 $ - $ - 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	9 Months Ended
	Sep. 30, 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 permitted 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. Effective June 30, 2019, the Partnership fully redeemed its investment in SECOR Master. 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 were managed and traded by AE Capital pursuant to the same strategy until AE Capital’s termination effective April 3, 2019. For the interim period from April 4, 2019 through April 30, 2019, the Partnership’s assets previously allocated to AE Capital were not charged a management fee and was credited with interest income at a rate equal to the monthly average of the 4-week On August 1, 2016, the Partnership allocated a portion of its assets to Harbour Square, which until December 31, 2017 were managed and traded directly by Harbour Square pursuant to Harbour Square’s Discretionary Energy Program through a trading account in the Partnership’s name. Effective January 1, 2018, the assets allocated to Harbour Square were transferred into Harbour Square Master, a limited liability company organized under the limited liability company laws of the State of Delaware, through which they were managed and traded by Harbour Square pursuant to the same strategy until Harbour Square’s termination effective March 31, 2019. Effective March 31, 2019, the Partnership fully redeemed its investment in Harbour Square Master. 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 September 30, 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 withdrew 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 were classified as a liability when the limited partner/member elected to redeem and informed the Funds. However, a limited partner/member could have requested a withdrawal as of the end of any day if such request was 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 were borne by the Funds and allocated to the Partnership, and also charged directly at the Partnership level. Clearing fees were 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 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 was directly affected by the performance of the Funds. Expenses to investors as a result of investment in the Funds were approximately the same as they would have been had the Partnership traded directly and the redemption rights were not affected. Summarized information reflecting the total assets, liabilities and partners’/members’ capital of the Funds is shown in the following tables: 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 nine months ended September 30, 2019 Net Investment Total Trading Net Income SECOR Master (a) $ (84,266) $ 2,719,987 $ 2,635,721 Harbour Square Master (b) (14,678) 160,848 146,170 AE Capital Master (c) 71,739 (890,810) (819,071) For the three months ended September 30, 2018 Net Investment Total Trading Net Income (Loss) SECOR Master $ (29,321) $ (1,466,273) $ (1,495,594) Cambridge Master 102,313 (3,445,315) (3,343,002) Harbour Square Master 68,750 (1,067,004) (998,254) AE Capital Master 67,934 (657,511) (589,577) For the nine months ended September 30, 2018 Net Investment Total Trading Net Income (Loss) SECOR Master $ (127,027) $ 3,786,220 $ 3,659,193 Cambridge Master 286,968 (1,952,669) (1,665,701) Harbour Square Master 210,173 (190,943) 19,230 AE Capital Master (d) 157,473 (1,471,268) (1,313,795) (a) From January 1, 2019 through June 30, 2019, the date the Partnership fully redeemed its investment in SECOR Master. (b) From January 1, 2019 through March 31, 2019, the date the Partnership fully redeemed its investment in Harbour Square Master. (c) From January 1, 2019 through April 30, 2019, the date the Partnership fully redeemed its investment in AE Capital Master. (d) From February 1, 2018, the date the Partnership invested in AE Capital Master, through September 30, 2018. Summarized information reflecting the Partnership’s investments in and the Partnership’s pro-rata September 30, 2019 For the nine months ended September 30, 2019 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master (a) - % $ - $ 352,502 $ 56,216 $ 4,201 $ 292,085 Commodity Portfolio Monthly Harbour Square Master (b) - % - 56,578 3,271 11,879 41,428 Commodity Portfolio Monthly AE Capital Master (c) - % - (84,712) 5,155 4,586 (94,453) Commodity Portfolio Monthly Total $ - $ 324,368 $ 64,642 $ 20,666 $ 239,060 December 31, 2018 For the three months ended September 30, 2018 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master 18.00 % $ 5,373,355 $ (302,235) $ 34,198 $ 3,833 $ (340,266) Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 (374,255) 14,221 6,865 (395,341) Commodity Portfolio Monthly AE Capital Master 8.71 % 2,600,215 (116,901) 6,090 3,716 (126,707) Commodity Portfolio Monthly Cambridge Master - % - (145,004) 981 705 (146,690) Commodity Portfolio Monthly Total $ 10,478,871 $ (938,395) $ 55,490 $ 15,119 $ (1,009,004) December 31, 2018 For the nine months ended September 30, 2018 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master 18.00 % $ 5,373,355 $ 682,713 $ 86,574 $ 9,914 $ 586,225 Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 63,655 27,372 20,099 16,184 Commodity Portfolio Monthly AE Capital Master (d) 8.71 % 2,600,215 (248,208) 11,748 8,876 (268,832) Commodity Portfolio Monthly Cambridge Master - % - (34,877) 2,382 1,664 (38,923) Commodity Portfolio Monthly Total $ 10,478,871 $ 463,283 $ 128,076 $ 40,553 $ 294,654 (a) From January 1, 2019 through June 30, 2019, the date the Partnership fully redeemed its investment in SECOR Master. (b) From January 1, 2019 through March 31, 2019, the date the Partnership fully redeemed its investment in Harbour Square Master. (c) From January 1, 2019 through April 30, 2019, the date the Partnership fully redeemed its investment in AE Capital Master. (d) From February 1, 2018, commencement of operations for AE Capital Master, through September 30, 2018.

Financial Instrument Risks

Financial Instrument Risks	9 Months Ended
	Sep. 30, 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 over-the-counter None Futures Contracts. Forward Foreign Currency Contracts. London Metals Exchange Forward Contracts. Options. marked-to-market marked-to-market 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. or an MS&Co. affiliate are counterparties or brokers with respect to the Partnership’s/Funds’ assets. For certain OTC contracts traded by Cambridge Master and SECOR Master prior to their respective full redemptions, JPMorgan was the counterparty with respect to those 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/Trading Manager 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/Trading Manager 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 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	9 Months Ended
	Sep. 30, 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 issued. The General Partner has assessed the subsequent events through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment to or disclosure in the financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates. c
Profit Allocation	Profit Allocation.
Statement of Cash Flows	Statement of Cash Flows. Statement of Cash Flows
Partnership's Investment in the Funds	Partnership’s Investment in the Funds.
Partnership's/Funds' Derivative Investments	Partnership’s/Funds’ Derivative Investments. first-in, first-out 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.
Income Taxes	Income Taxes. Income Taxes “more-likely-than-not” more-likely-than-not
Investment Company Status	Investment Company Status. 2013-08, “Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements”
Net Income (Loss) Per Redeemable Unit	Net Income (Loss) Per Redeemable Unit. “Financial Services – Investment Companies.”

Financial Highlights (Tables)

Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2019
Investment Company [Abstract]
Financial Highlights	Financial highlights for the limited partner Classes as a whole for the three and nine months ended September 30, 2019 and 2018 were as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Class A Class Z Class A Class Z 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) $ 20.58 $ 17.43 $ (13.61) $ (11.32) $ 47.37 $ 40.20 $ 20.43 $ 16.71 Net investment loss (13.11) (6.15) (13.31) (6.21) (37.75) (17.31) (39.90) (18.43) Increase (decrease) for the period 7.47 11.28 (26.92) (17.53) 9.62 22.89 (19.47) (1.72) Net asset value per Redeemable Unit, beginning of period 1,153.98 975.64 1,169.63 969.12 1,151.83 964.03 1,162.18 953.31 Net asset value per Redeemable Unit, end of period $ 1,161.45 $ 986.92 $ 1,142.71 $ 951.59 $ 1,161.45 $ 986.92 $ 1,142.71 $ 951.59 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Class A Class Z Class A Class Z Class A Class Z Class A Class Z Ratios to Average Limited Partners’ Capital:** Net investment loss*** (4.5) % (2.5) % (4.6) % (2.5) % (4.5) % (2.4) % (4.6) % (2.6) % Operating expenses 6.3 % 4.3 % 6.3 % 4.2 % 6.6 % 4.5 % 6.1 % 4.1 % Incentive fees - % - % - % - % (0.2) % (0.2) % - % - % Total expenses 6.3 % 4.3 % 6.3 % 4.2 % 6.4 % 4.3 % 6.1 % 4.1 % Total return: Total return before incentive fees 0.6 % 1.2 % (2.3) % (1.8) % 0.7 % 2.2 % (1.7) % (0.2) % Incentive fees - % - % - % - % 0.1 % 0.2 % - % - % Total return after incentive fees 0.6 % 1.2 % (2.3) % (1.8) % 0.8 % 2.4 % (1.7) % (0.2) % * 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.

Trading Activities (Tables)

Trading Activities (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2019 and December 31, 2018, respectively. September 30, 2019 Gross Gross Amounts Statements of Amounts Statements of Gross Amounts Not Offset in the Financial Cash Collateral Pledged* Net Amount Assets Futures $ 949,661 $ (799,373) $ 150,288 $ - $ - $ 150,288 Total assets $ 949,661 $ (799,373) $ 150,288 $ - $ - $ 150,288 Liabilities Futures $ (799,373) $ 799,373 $ - $ - $ - $ - Total liabilities $ (799,373) $ 799,373 $ - $ - $ - $ - Net fair value $ 150,288 * December 31, 2018 Gross Gross Amounts Statements of Condition Amounts Statements of Condition Gross Amounts Not Offset in the Net Amount Financial Cash Collateral Pledged* 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
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 September 30, 2019 and December 31, 2018, respectively. Assets September 30, 2019 Futures Contracts Currencies $ 29,684 Energy 223,555 Grains 36,771 Indices 294,942 Interest Rates U.S. 51,987 Interest Rates Non-U.S. 96,167 Livestock 35,730 Metals 8,044 Softs 172,781 Total unrealized appreciation on open futures contracts 949,661 Liabilities Futures Contracts Currencies (127,685) Energy (66,962) Grains (24,813) Indices (81,626) Interest Rates U.S. (34,864) Interest Rates Non-U.S. (177,806) Livestock (11,070) Metals (124,673) Softs (149,874) Total unrealized depreciation on open futures contracts (799,373) Net unrealized appreciation on open futures contracts $ 150,288 * * This amount is in “Net unrealized appreciation 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 and nine months ended September 30, 2019 and 2018, respectively. Three Months Ended Nine Months Ended Sector 2019 2018 2019 2018 Currencies $ (915,087) $ 203,365 $ (772,203) $ (454,761) Energy 175,781 320,492 (78,964) 588,786 Grains (73,697) 74,104 (553,595) (40,938) Indices 345,243 (136,782) (38,089) 439,405 Interest Rates U.S. 474,420 82,547 1,433,600 60,571 Interest Rates Non-U.S. (108,602) (108,564) 291,762 (72,145) Livestock 2,982 (38,540) (74,398) (92,450) Metals 516,133 293,060 747,131 199,245 Softs 22,357 (51,341) (186,371) (49,835) Total $ 439,530 ** $ 638,341 ** $ 768,873 ** $ 577,878 ** ** This amount is included in “Total trading results” in the Statements of Income and Expenses.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	September 30, 2019 Total Level 1 Level 2 Level 3 Assets Futures $ 949,661 $ 949,661 $ - $ - Total assets $ 949,661 $ 949,661 $ - $ - Liabilities Futures $ 799,373 $ 799,373 $ - $ - Total liabilities $ 799,373 $ 799,373 $ - $ - 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)	9 Months Ended
	Sep. 30, 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: 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 nine months ended September 30, 2019 Net Investment Total Trading Net Income SECOR Master (a) $ (84,266) $ 2,719,987 $ 2,635,721 Harbour Square Master (b) (14,678) 160,848 146,170 AE Capital Master (c) 71,739 (890,810) (819,071) For the three months ended September 30, 2018 Net Investment Total Trading Net Income (Loss) SECOR Master $ (29,321) $ (1,466,273) $ (1,495,594) Cambridge Master 102,313 (3,445,315) (3,343,002) Harbour Square Master 68,750 (1,067,004) (998,254) AE Capital Master 67,934 (657,511) (589,577) For the nine months ended September 30, 2018 Net Investment Total Trading Net Income (Loss) SECOR Master $ (127,027) $ 3,786,220 $ 3,659,193 Cambridge Master 286,968 (1,952,669) (1,665,701) Harbour Square Master 210,173 (190,943) 19,230 AE Capital Master (d) 157,473 (1,471,268) (1,313,795) (a) From January 1, 2019 through June 30, 2019, the date the Partnership fully redeemed its investment in SECOR Master. (b) From January 1, 2019 through March 31, 2019, the date the Partnership fully redeemed its investment in Harbour Square Master. (c) From January 1, 2019 through April 30, 2019, the date the Partnership fully redeemed its investment in AE Capital Master. (d) From February 1, 2018, the date the Partnership invested in AE Capital Master, through September 30, 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 September 30, 2019 For the nine months ended September 30, 2019 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master (a) - % $ - $ 352,502 $ 56,216 $ 4,201 $ 292,085 Commodity Portfolio Monthly Harbour Square Master (b) - % - 56,578 3,271 11,879 41,428 Commodity Portfolio Monthly AE Capital Master (c) - % - (84,712) 5,155 4,586 (94,453) Commodity Portfolio Monthly Total $ - $ 324,368 $ 64,642 $ 20,666 $ 239,060 December 31, 2018 For the three months ended September 30, 2018 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master 18.00 % $ 5,373,355 $ (302,235) $ 34,198 $ 3,833 $ (340,266) Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 (374,255) 14,221 6,865 (395,341) Commodity Portfolio Monthly AE Capital Master 8.71 % 2,600,215 (116,901) 6,090 3,716 (126,707) Commodity Portfolio Monthly Cambridge Master - % - (145,004) 981 705 (146,690) Commodity Portfolio Monthly Total $ 10,478,871 $ (938,395) $ 55,490 $ 15,119 $ (1,009,004) December 31, 2018 For the nine months ended September 30, 2018 % of Expenses Net Funds Partners’ Fair Value Income Clearing Professional Income Investment Redemptions SECOR Master 18.00 % $ 5,373,355 $ 682,713 $ 86,574 $ 9,914 $ 586,225 Commodity Portfolio Monthly Harbour Square Master 8.39 % 2,505,301 63,655 27,372 20,099 16,184 Commodity Portfolio Monthly AE Capital Master (d) 8.71 % 2,600,215 (248,208) 11,748 8,876 (268,832) Commodity Portfolio Monthly Cambridge Master - % - (34,877) 2,382 1,664 (38,923) Commodity Portfolio Monthly Total $ 10,478,871 $ 463,283 $ 128,076 $ 40,553 $ 294,654 (a) From January 1, 2019 through June 30, 2019, the date the Partnership fully redeemed its investment in SECOR Master. (b) From January 1, 2019 through March 31, 2019, the date the Partnership fully redeemed its investment in Harbour Square Master. (c) From January 1, 2019 through April 30, 2019, the date the Partnership fully redeemed its investment in AE Capital Master. (d) From February 1, 2018, commencement of operations for AE Capital Master, through September 30, 2018.

Organization - Additional Infor

Organization - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2019	Dec. 31, 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	20,382.5290	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%
Maximum amount of partnership assets allocated to trading advisor	1.5 times the amount of the assets

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash denominated in foreign currencies	$ (55,032)	$ (53,834)
Cash denominated in foreign currencies, proceeds		54,680
Cash denominated in foreign currencies, cost	56,099
Restricted cash held for margin	3,705,485	$ 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Class A Redeemable Units [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	$ 20.58	$ (13.61)	$ 47.37	$ 20.43
Net investment loss	(13.11)	(13.31)	(37.75)	(39.90)
Increase (decrease) for the period	7.47	(26.92)	9.62	(19.47)
Net asset value per Redeemable Unit, beginning of period	1,153.98	1,169.63	1,151.83	1,162.18
Net asset value per Redeemable Unit, end of period	1,161.45	1,142.71	1,161.45	1,142.71
Class Z Redeemable Units [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	17.43	(11.32)	40.20	16.71
Net investment loss	(6.15)	(6.21)	(17.31)	(18.43)
Increase (decrease) for the period	11.28	(17.53)	22.89	(1.72)
Net asset value per Redeemable Unit, beginning of period	975.64	969.12	964.03	953.31
Net asset value per Redeemable Unit, end of period	$ 986.92	$ 951.59	$ 986.92	$ 951.59

Financial Highlights - Ratios t

Financial Highlights - Ratios to Average Net Assets (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Class A Redeemable Units [Member]
Ratios to Average Limited Partners' Capital:
Net investment loss	(4.50%)	(4.60%)	(4.50%)	(4.60%)
Operating expenses	6.30%	6.30%	6.60%	6.10%
Incentive fees			(0.20%)
Total expenses	6.30%	6.30%	6.40%	6.10%
Total return:
Total return before incentive fees	0.60%	(2.30%)	0.70%	(1.70%)
Incentive fees			0.20%
Total return after incentive fees	0.60%	(2.30%)	0.80%	(1.70%)
Class Z Redeemable Units [Member]
Ratios to Average Limited Partners' Capital:
Net investment loss	(2.50%)	(2.50%)	(2.40%)	(2.60%)
Operating expenses	4.30%	4.20%	4.50%	4.10%
Incentive fees			(0.20%)
Total expenses	4.30%	4.20%	4.30%	4.10%
Total return:
Total return before incentive fees	1.20%	(1.80%)	2.20%	(0.20%)
Incentive fees			0.20%
Total return after incentive fees	1.20%	(1.80%)	2.40%	(0.20%)

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Futures Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held	2,508	1,773	2,241	1,663
Options Contracts [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average number of derivative contracts held	0	0	0	24,100
Forward Contracts [Member] | Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average notional value of derivative | $	$ 0	$ 0	$ 0	$ 4,680,507

Trading Activities - Summary of

Trading Activities - Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 949,661	$ 851,529
Gross Amounts Offset in the Statements of Financial Condition, Assets	(799,373)	(757,896)
Amounts Presented in the Statements of Financial Condition, Assets	150,288	93,633
Financial Instruments, Assets	0	0
Cash Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	150,288	93,633
Gross Amounts Recognized, Liabilities	(799,373)	(757,896)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	799,373	757,896
Amounts Presented in the Statements of Financial Condition, Liabilities	0	0
Financial Instruments, Liabilities	0	0
Cash Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	0	0
Net Fair Value	150,288	93,633
Futures Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	949,661	851,529
Gross Amounts Offset in the Statements of Financial Condition, Assets	(799,373)	(757,896)
Amounts Presented in the Statements of Financial Condition, Assets	150,288	93,633
Financial Instruments, Assets	0	0
Cash Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	150,288	93,633
Gross Amounts Recognized, Liabilities	(799,373)	(757,896)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	799,373	757,896
Amounts Presented in the Statements of Financial Condition, Liabilities	0	0
Financial Instruments, Liabilities	0	0
Cash Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	$ 0	$ 0

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded (Detail) - Futures Contracts [Member] - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Total unrealized appreciation on open contracts	$ 949,661	$ 851,529
Total unrealized depreciation on open contracts	(799,373)	(757,896)
Net unrealized appreciation (depreciation) on open contracts	150,288	93,633
Currencies [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	29,684	117,929
Total unrealized depreciation on open contracts	(127,685)	(148,721)
Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	223,555	84,783
Total unrealized depreciation on open contracts	(66,962)	(103,128)
Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	36,771	59,786
Total unrealized depreciation on open contracts	(24,813)	(116,823)
Indices [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	294,942	188,979
Total unrealized depreciation on open contracts	(81,626)	(101,999)
Interest Rates U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	51,987	110,603
Total unrealized depreciation on open contracts	(34,864)	(100,422)
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	96,167	239,824
Total unrealized depreciation on open contracts	(177,806)	(127,847)
Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	35,730	6,430
Total unrealized depreciation on open contracts	(11,070)	(2,880)
Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	8,044	23,688
Total unrealized depreciation on open contracts	(124,673)	(5,835)
Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open contracts	172,781	19,507
Total unrealized depreciation on open contracts	$ (149,874)	$ (50,241)

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses by Market Sector on Derivative Instruments Traded (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Total trading results	$ 439,530	$ 638,341	$ 768,873	$ 577,878
Currencies [Member]
Derivative [Line Items]
Total trading results	(915,087)	203,365	(772,203)	(454,761)
Energy [Member]
Derivative [Line Items]
Total trading results	175,781	320,492	(78,964)	588,786
Grains [Member]
Derivative [Line Items]
Total trading results	(73,697)	74,104	(553,595)	(40,938)
Indices [Member]
Derivative [Line Items]
Total trading results	345,243	(136,782)	(38,089)	439,405
Interest Rates U.S. [Member]
Derivative [Line Items]
Total trading results	474,420	82,547	1,433,600	60,571
Interest Rates Non-U.S. [Member]
Derivative [Line Items]
Total trading results	(108,602)	(108,564)	291,762	(72,145)
Livestock [Member]
Derivative [Line Items]
Total trading results	2,982	(38,540)	(74,398)	(92,450)
Metals [Member]
Derivative [Line Items]
Total trading results	516,133	293,060	747,131	199,245
Softs [Member]
Derivative [Line Items]
Total trading results	$ 22,357	$ (51,341)	$ (186,371)	$ (49,835)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - DerivativeInstrument	Sep. 30, 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 ($)	Sep. 30, 2019	Dec. 31, 2018
Assets
Total assets	$ 949,661	$ 851,529
Liabilities
Total liabilities	799,373	757,896
Futures Contracts [Member]
Assets
Total assets	949,661	851,529
Liabilities
Total liabilities	799,373	757,896
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]
Assets
Total assets	949,661	851,529
Liabilities
Total liabilities	799,373	757,896
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member] | Futures Contracts [Member]
Assets
Total assets	949,661	851,529
Liabilities
Total liabilities	799,373	$ 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)	Dec. 31, 2018
SECOR Master Fund L.P. [Member]
Investment [Line Items]
Percentage owned by partnership	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	13.20%

Investment in the Funds - Asset

Investment in the Funds - Assets, Liabilities and Capital of Funds (Detail) - USD ($)	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Investment Holdings [Line Items]
Total Assets	$ 24,706,832		$ 32,635,565
Total Liabilities	746,436		2,776,892
Total Partners' Capital	$ 23,960,396	$ 25,018,967	29,858,673	$ 34,699,868	$ 38,233,383	$ 41,742,612
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Total Assets			37,347,676
Total Liabilities			2,170,539
Total Partners' Capital			35,177,137
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Total Assets			10,504,910
Total Liabilities			2,532,233
Total Partners' Capital			7,972,677
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Total Assets			19,758,302
Total Liabilities			99,954
Total Partners' Capital			$ 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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investment Holdings [Line Items]
Net Investment Income (Loss)	$ (278,415)	$ (422,901)	$ (866,309)	$ (1,333,897)
Total Trading Results	439,530	(411,457)	1,014,266	770,334
Net income (loss)	$ 161,115	(834,358)	147,957	(563,563)
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		(29,321)	(84,266)	(127,027)
Total Trading Results		(1,466,273)	2,719,987	3,786,220
Net income (loss)		(1,495,594)	2,635,721	3,659,193
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		68,750	(14,678)	210,173
Total Trading Results		(1,067,004)	160,848	(190,943)
Net income (loss)		(998,254)	146,170	19,230
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		67,934	71,739	157,473
Total Trading Results		(657,511)	(890,810)	(1,471,268)
Net income (loss)		(589,577)	$ (819,071)	(1,313,795)
Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Net Investment Income (Loss)		102,313		286,968
Total Trading Results		(3,445,315)		(1,952,669)
Net income (loss)		$ (3,343,002)		$ (1,665,701)

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) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Investment Holdings [Line Items]
% of Partners' Capital						35.10%
Fair Value	[1]	$ 0		$ 0		$ 10,478,871
Income (Loss)		439,530	$ (411,457)	1,014,266	$ 770,334
Expenses, Clearing Fees		58,684	25,251	142,963	120,587
Expenses, Professional fees		74,916	92,789	244,202	253,233
Net income (loss)		$ 161,115	(834,358)	147,957	(563,563)
SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
% of Partners' Capital						18.00%
Fair Value						$ 5,373,355
CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
% of Partners' Capital						8.39%
Fair Value						$ 2,505,301
CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
% of Partners' Capital						8.71%
Fair Value						$ 2,600,215
Investment in Funds [Member]
Investment Holdings [Line Items]
Income (Loss)			(938,395)	324,368	463,283
Expenses, Clearing Fees			55,490	64,642	128,076
Expenses, Professional fees			15,119	20,666	40,553
Net income (loss)			(1,009,004)	239,060	294,654
Investment in Funds [Member] | Commodity [Member] | SECOR Master Fund L.P. [Member]
Investment Holdings [Line Items]
Income (Loss)			(302,235)	352,502	682,713
Expenses, Clearing Fees			34,198	56,216	86,574
Expenses, Professional fees			3,833	4,201	9,914
Net income (loss)			$ (340,266)	$ 292,085	$ 586,225
Investment Objective			Commodity Portfolio	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted			Monthly	Monthly	Monthly
Investment in Funds [Member] | Commodity [Member] | Cambridge Master Fund L.P. [Member]
Investment Holdings [Line Items]
Income (Loss)			$ (145,004)		$ (34,877)
Expenses, Clearing Fees			981		2,382
Expenses, Professional fees			705		1,664
Net income (loss)			$ (146,690)		$ (38,923)
Investment Objective			Commodity Portfolio		Commodity Portfolio
Redemptions Permitted			Monthly		Monthly
Investment in Funds [Member] | Commodity [Member] | CMF Harbour Square Master Fund LLC [Member]
Investment Holdings [Line Items]
Income (Loss)			$ (374,255)	$ 56,578	$ 63,655
Expenses, Clearing Fees			14,221	3,271	27,372
Expenses, Professional fees			6,865	11,879	20,099
Net income (loss)			$ (395,341)	$ 41,428	$ 16,184
Investment Objective			Commodity Portfolio	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted			Monthly	Monthly	Monthly
Investment in Funds [Member] | Commodity [Member] | CMF AE Capital Master Fund LLC [Member]
Investment Holdings [Line Items]
Income (Loss)			$ (116,901)	$ (84,712)	$ (248,208)
Expenses, Clearing Fees			6,090	5,155	11,748
Expenses, Professional fees			3,716	4,586	8,876
Net income (loss)			$ (126,707)	$ (94,453)	$ (268,832)
Investment Objective			Commodity Portfolio	Commodity Portfolio	Commodity Portfolio
Redemptions Permitted			Monthly	Monthly	Monthly
[1]	Defined in Note 1.

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019
Concentration Risk [Line Items]
Financial instruments maturity period	1 year
Credit Concentration Risk [Member] | Partnership's/Funds' Contracts [Member] | Over the Counter [Member]
Concentration Risk [Line Items]
Concentration risk percentage	0.00%