Ceres Tactical Commodity 10-Q 11 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	ck0001325676
Entity Registrant Name	CERES TACTICAL COMMODITY L.P.
Entity Central Index Key	1,325,676
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		74,734.3257

Statements of Financial Conditi

Statements of Financial Condition - USD ($)		Mar. 31, 2017	Dec. 31, 2016
Assets:
Investment in the Master, at fair value	[1]	$ 105,071,944	$ 105,585,464
Cash at MS&Co.		254,050	231,090
Cash at bank		1,022	217
Total assets		105,327,016	105,816,771
Accrued expenses:
Ongoing selling agent fees		173,395	176,361
Management fees		109,271	109,799
General Partner fees		87,417	87,839
Professional fees		253,291	233,661
Redemptions payable to Limited Partners		3,021,830	1,776,067
Total liabilities		3,645,204	2,383,727
Partners' Capital:
Total partners' capital (net asset value)		101,681,812	103,433,044
Total liabilities and partners' capital		105,327,016	105,816,771
Class A [Member]
Partners' Capital:
General Partner			1,208,476
Limited Partners, Class A, 76,902.1267 and 76,532.7527 Redeemable Units outstanding at March 31, 2017 and December 31, 2016, respectively		100,397,341	102,224,568
Total partners' capital (net asset value)		$ 100,397,341	$ 103,433,044
Net asset value per Redeemable Unit		$ 1,305.52	$ 1,335.70
Class Z [Member]
Partners' Capital:
General Partner		$ 1,284,471
Total partners' capital (net asset value)		$ 1,284,471
Net asset value per Redeemable Unit		$ 982.32
[1]	Defined in Note 1.

Statements of Financial Condit3

Statements of Financial Condition (Parenthetical) - shares	Mar. 31, 2017	Dec. 31, 2016
Class A [Member]
General Partner Redeemable Units outstanding	0	904.7535
Limited Partners Redeemable Units outstanding	76,902.1267	76,532.7527
Class Z [Member]
General Partner Redeemable Units outstanding	1,307.5870	0

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Investment Income:
Interest income allocated from the Master		$ 132,983	$ 53,356
Expenses:
Expenses allocated from the Master		325,146	636,524
Ongoing selling agent fees		534,099	644,650
Management fees		336,570	401,543
General Partner fees		269,256	321,235
Professional fees		96,909	109,555
Total expenses		1,561,980	2,113,507
Net investment loss		(1,428,997)	(2,060,151)
Net gains (losses) on investment in the Master:
Net realized gains (losses) on closed contracts allocated from the Master		(790,896)	4,176,312
Net change in unrealized gains (losses) on open contracts allocated from the Master		(241,643)	(1,205,926)
Total trading results		(1,032,539)	2,970,386
Net income (loss)		(2,461,536)	910,235
Class A [Member]
Net gains (losses) on investment in the Master:
Net income (loss)		$ (2,438,420)	$ 910,235
Net asset value per Redeemable Unit		$ 1,305.52	$ 1,279.71
Net income (loss) per Redeemable Unit	[1]	$ (30.18)	$ 11.33
Weighted average Redeemable Units outstanding		80,809.4747	101,985.7279
Class Z [Member]
Net gains (losses) on investment in the Master:
Net income (loss)		$ (23,116)
Net asset value per Redeemable Unit		$ 982.32
Net income (loss) per Redeemable Unit	[1]	$ (17.68)
Weighted average Redeemable Units outstanding		1,307.5870
[1]	Represents the change in net asset value per Redeemable Unit during the period.

Statements of Income and Expen5

Statements of Income and Expenses (Parenthetical) - shares	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Net asset value per redeemable unit outstanding	78,209.7137	77,437.5062	94,855.4102	104,300.7562
Class A [Member]
Net asset value per redeemable unit outstanding	76,902.1267	77,437.5062	94,855.4102	104,300.7562
Class Z [Member]
Net asset value per redeemable unit outstanding	1,307.5870		0

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	Limited Partners [Member]	General Partner [Member]	Class A [Member]	Class A [Member]Limited Partners [Member]	Class A [Member]General Partner [Member]	Class Z [Member]	Class Z [Member]General Partner [Member]
Partners' Capital, beginning of period at Dec. 31, 2015	$ 132,292,532			$ 132,292,532
Partners' Capital, Redeemable Units, beginning of period at Dec. 31, 2015	104,300.7562			104,300.7562
Subscriptions		$ 2,525,000			$ 2,525,000
Subscriptions, Redeemable Units		1,990.7280			1,990.7280
Net income (loss)	$ 910,235			$ 910,235
Redemptions		$ (13,985,235)	$ (355,000)		$ (13,985,235)	$ (355,000)
Redemptions, Redeemable Units		(11,150.5800)	(285.4940)		(11,150.5800)	(285.4940)
Partners' Capital, end of period at Mar. 31, 2016	$ 121,387,532			$ 121,387,532
Partners' Capital, Redeemable Units, end of period at Mar. 31, 2016	94,855.4102			94,855.4102			0
Partners' Capital, beginning of period at Dec. 31, 2016	$ 103,433,044			$ 103,433,044
Partners' Capital, Redeemable Units, beginning of period at Dec. 31, 2016	77,437.5062			77,437.5062
Subscriptions		$ 8,104,804	$ 1,307,587		$ 8,104,804			$ 1,307,587
Subscriptions, Redeemable Units		6,067.8330	1,307.5870		6,067.8330			1,307.5870
Net income (loss)	$ (2,461,536)			$ (2,438,420)			$ (23,116)
Redemptions		$ (7,493,611)	$ (1,208,476)		$ (7,493,611)	$ (1,208,476)
Redemptions, Redeemable Units		(5,698.4590)	(904.7535)		(5,698.4590)	(904.7535)
Partners' Capital, end of period at Mar. 31, 2017	$ 101,681,812			$ 100,397,341			$ 1,284,471
Partners' Capital, Redeemable Units, end of period at Mar. 31, 2017	78,209.7137			76,902.1267			1,307.5870

Organization

Organization	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization: Ceres Tactical Commodity L.P (formerly, Managed Futures Premier Aventis II L.P.) (the “Partnership”) is a limited partnership organized on April 20, 2005 under the partnership laws of the State of New York to engage, directly or indirectly, in the speculative trading of commodity interests on U.S. and international futures, options on futures and forward markets. The Partnership may also engage, directly or indirectly, in swap transactions and other derivative transactions with the approval of the General Partner (as defined below). Initially, the Partnership’s investment strategy focused on energy and energy-related investments. While the Partnership is expected to continue to have exposure to energy and energy-related markets, such trading will no longer be the Partnership’s primary focus. Therefore, the Partnership’s past trading performance will not necessarily be indicative of future results. The commodity interests that are traded by the Partnership, through its investment in MB Master Fund L.P. (the “Master”), 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 Master) 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. During the initial offering period, the Partnership sold 11,925 redeemable units of limited partnership interest in the Partnership (“Redeemable Units”). The Partnership commenced trading on September 6, 2005. 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. As of January 1, 2017, the General Partner became 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. Prior to January 1, 2017, the General Partner was a wholly owned subsidiary of Morgan Stanley Smith Barney Holdings LLC. All trading decisions for the Partnership are made by Aventis Asset Management, LLC (“Aventis” or the “Advisor”). During the reporting periods ended March 31, 2017 and 2016, the Partnership’s and the Master’s commodity broker was Morgan Stanley & Co. LLC (“MS&Co.”), a registered futures commission merchant. The Partnership and the Master also deposit a portion of their cash in non-trading Effective February 28, 2017, the Partnership changed its name from Managed Futures Premier Aventis II L.P. to Ceres Tactical Commodity L.P. On February 1, 2013, the Partnership allocated substantially all of its capital to the Master, a limited partnership organized under the partnership laws of the State of Delaware. The Partnership purchased an interest in the Master with cash equal to $262,944,186. The Master permits accounts managed by Aventis using its Aventis Diversified Commodity Strategy, a proprietary, discretionary trading system, to invest together in one trading vehicle. The General Partner is also the general partner of the Master. Individual and pooled accounts currently managed by the Advisor, including the Partnership, are permitted to be limited partners of the Master. The General Partner and the Advisor believe that trading through this master/feeder structure should promote efficiency and economy in the trading process. Expenses to investors as a result of the investment in the Master are approximately the same as if the Partnership traded directly and redemption rights are not affected. Generally, a limited partner in the Master withdraws all or part of its capital contribution and undistributed profits, if any, from the Master as of the end of any month (the “Redemption Date”) after a request has been made to the General Partner at least three days in advance of the Redemption Date. Such withdrawals are classified as a liability when the limited partner in the Master elects to redeem and informs the Master. However, a limited partner in the Master may request a withdrawal as of the end of any day if such request is received by the General Partner at least three days in advance of the proposed withdrawal day. The General Partner is not aware of any material changes to the Aventis Diversified Commodity Strategy during the fiscal quarter ended March 31, 2017. As of November 11, 2016, the Partnership began offering two classes of limited partnership interests, Class A Redeemable Units and Class Z Redeemable Units. All Redeemable Units issued prior to October 31, 2016 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 are available to taxable U.S. individuals and institutions, U.S. tax exempt individuals and institutions and non-U.S. At March 31, 2017, the Partnership owned approximately 88.1% of the Master. At December 31, 2016, the Partnership owned approximately 88.1% of the Master. It is the Partnership’s intention to continue to invest substantially all of its assets in the Master. The performance of the Partnership is directly affected by the performance of the Master. The Master’s trading of futures, forward, swap and option contracts, if applicable, on commodities is done primarily on U.S. commodity exchanges and foreign commodity exchanges. The Master engages in such trading through a commodity brokerage account maintained with MS&Co. The Master’s Statements of Financial Condition, Condensed Schedules of Investments and Statements of Income and Expenses and Changes in Partners’ Capital are included herein. The Partnership and the Master have entered into futures brokerage account agreements with MS&Co. The Partnership, through its investment in the Master, 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, The Partnership has also entered into a selling agreement (as amended, the “Selling Agreement”) with Morgan Stanley Wealth Management. Pursuant to the Selling Agreement, Morgan Stanley Wealth Management receives a monthly ongoing selling agent fee equal to 2.00% per year of the Partnership’s adjusted 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	3 Months Ended
	Mar. 31, 2017
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, 2017, and the results of its operations and changes in partners’ capital for the three months ended March 31, 2017 and 2016. These financial statements present the results for interim periods and do not include all disclosures normally provided in annual financial statements. These financial statements should be read together with the financial statements and notes included in the Partnership’s Annual Report on Form 10-K Due to the nature of commodity trading, the results of operations for the interim periods presented should not be considered indicative of the results that may be expected for the entire year. Use of Estimates. Profit Allocation Statement of Cash Flows. “Statement of Cash Flows.” Partnership’s Investment. Master’s Investments. first-in, first-out Master’s Cash Investment Company Status. 2013-08, Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements Income Taxes. “Income Taxes,” “more-likely-than-not” more-likely-than-not 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 The Master’s Statements of Financial Condition and Condensed Schedules of Investments as of March 31, 2017 and December 31, 2016 and Statements of Income and Expenses and Changes in Partners’ Capital for the three months ended March 31, 2017 and 2016 are presented below. MB Master Fund L.P. Statements of Financial Condition (Unaudited) March 31, December 31, Assets: Equity in trading account: Investment in U.S. Treasury bills, at fair value (amortized cost $0 and $24,980,354 at March 31, 2017 and December 31, 2016, respectively) $ - $ 24,989,906 Cash at MS&Co. 110,325,347 96,314,966 Cash margin 6,496,544 3,225,180 Net unrealized appreciation on open futures contracts 1,425,094 540,016 Net unrealized appreciation on open forward contracts 8,410 - Options purchased, at fair value (cost $2,898,634 and $4,100,580 at March 31, 2017 and December 31, 2016, respectively) 1,978,877 4,278,469 Total equity in trading account 120,234,272 129,348,537 Cash at bank 1,022 217 Expense reimbursement 9,800 11,682 Total assets $ 120,245,094 $ 129,360,436 Liabilities and Partners’ Capital: Liabilities: Options written, at fair value (premiums received $1,323,024 and $1,111,935 at March 31, 2017 and December 31, 2016, respectively) $ 980,629 $ 736,137 Accrued expenses: Professional fees 47,245 31,494 Redemptions payable - 8,747,265 Total liabilities 1,027,874 9,514,896 Partners’ Capital: General Partner - - Limited Partners 119,217,220 119,845,540 Total partners’ capital (net asset value) 119,217,220 119,845,540 Total liabilities and partners’ capital $ 120,245,094 $ 129,360,436 MB Master Fund L.P. Condensed Schedule of Investments March 31, 2017 (Unaudited) Number of Fair Value % of Partners’ Futures Contracts Purchased Energy 2,292 $ 2,385,078 2.00 % Grains 1,178 (439,945) (0.37) Livestock 219 195,691 0.16 Metals 9 (3,262) (0.00) * Softs 342 (621,027) (0.52) Total futures contracts purchased 1,516,535 1.27 Futures Contracts Sold Energy 1,213 (1,321,490) (1.11) Grains 713 551,323 0.46 Livestock 210 211 0.00 * Softs 573 678,515 0.58 Total futures contracts sold (91,441) (0.07) Net unrealized appreciation on open futures contracts $ 1,425,094 1.20 % Unrealized Appreciation on Open Forward Contracts Metals 69 $ 226,136 0.19 % Total unrealized appreciation on open forward contracts 226,136 0.19 Unrealized Depreciation on Open Forward Contracts Metals 155 (217,726) (0.18) Total unrealized depreciation on open forward contracts (217,726) (0.18) Net unrealized appreciation on open forward contracts $ 8,410 0.01 % Options Purchased Calls Energy 1,274 $ 732,245 0.61 % Grains 1,618 449,531 0.38 Livestock 255 200,700 0.17 Softs 1,117 450,781 0.38 Puts Livestock 150 63,810 0.05 Softs 50 81,810 0.07 Total options purchased (cost $2,898,634) $ 1,978,877 1.66 % Options Written Calls Grains 408 $ (50,663) (0.04) % Livestock 39 (17,640) (0.01) Softs 1,135 (70,192) (0.06) Puts Energy 190 (588,786) (0.49) Grains 38 (53,912) (0.05) Livestock 18 (12,150) (0.01) Softs 313 (187,286) (0.16) Total options written (premiums received $1,323,024) $ (980,629) (0.82) % * Due to rounding. MB Master Fund L.P. Condensed Schedule of Investments December 31, 2016 Number Fair Value % of Partners’ Futures Contracts Purchased Energy 1,050 $ 913,118 0.77 % Grains 2,584 (603,782) (0.50) Livestock 64 (9,035) (0.01) Softs 1,027 101,453 0.08 Total futures contracts purchased 401,754 0.34 Futures Contracts Sold Energy 754 (1,034,957) (0.87) Grains 2,022 1,104,320 0.92 Softs 483 68,899 0.06 Total futures contracts sold 138,262 0.11 Net unrealized appreciation on open futures contracts $ 540,016 0.45 % Options Purchased Calls Energy 1,938 $ 472,920 0.39 % Grains 1,565 679,313 0.57 Livestock 824 879,120 0.73 Softs 1,888 1,688,119 1.41 Puts Grains 468 228,150 0.19 Livestock 475 115,880 0.10 Softs 210 214,967 0.18 Total options purchased (cost $4,100,580) $ 4,278,469 3.57 % Options Written Calls Grains 197 $ (41,863) (0.03) % Softs 1,274 (314,686) (0.26) Puts Grains 468 (359,775) (0.30) Softs 164 (19,813) (0.02) Total options written (premiums received $1,111,935) $ (736,137) (0.61) % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $ 25,000,000 2/2/2017 U.S. Treasury bills, 0.41%* (Amortized cost of $24,980,354) $ 24,989,906 20.85 % *Liquid non-cash MB Master Fund L.P. Statements of Income and Expenses and Changes in Partners’ Capital (Unaudited) Three Months Ended March 31, 2017 2016 Investment Income: Interest income $ 148,399 $ 62,468 Expenses: Clearing fees 350,825 721,490 Professional fees 15,945 20,523 Total expenses 366,770 742,013 Expense reimbursements (25,456) (53,540) Net expenses 341,314 688,473 Net investment loss (192,915) (626,005) Trading Results: Net gains (losses) on trading of commodity interests: Net realized gains (losses) on closed contracts (894,323) 4,869,008 Net change in unrealized gains (losses) on open contracts (241,361) (1,395,734) Total trading results (1,135,684) 3,473,274 Net income (loss) (1,328,599) 2,847,269 Subscriptions—Limited Partners 9,703,900 5,025,000 Redemptions—Limited Partners (8,865,316) (21,314,819) Distribution of interest income to feeder funds (138,305) (7,744) Net increase (decrease) in Partners’ Capital (628,320) (13,450,294) Partners’ Capital, beginning of period 119,845,540 159,372,646 Partners’ Capital, end of period $ 119,217,220 $ 145,922,352

Financial Highlights

Financial Highlights	3 Months Ended
	Mar. 31, 2017
Text Block [Abstract]
Financial Highlights	3. Financial Highlights: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2017 and 2016 were as follows: Class A Three Months Ended March 31, 2017 2016 Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) $ (12.63) $ 31.57 Net investment loss (17.55) (20.24) Increase (decrease) for the period (30.18) 11.33 Net asset value per Redeemable Unit, beginning of period 1,335.70 1,268.38 Net asset value per Redeemable Unit, end of period $ 1,305.52 $ 1,279.71 Three Months Ended March 31, 2017 2016 Ratios to Average Limited Partners’ Capital:** Net investment loss*** (5.6) % (6.6) % Operating expenses 6.1 % 6.8 % Incentive fees - % - % Total expenses 6.1 % 6.8 % Total return: Total return before incentive fees (2.3) % 0.9 % Incentive fees - % - % Total return after incentive fees (2.3) % 0.9 % * Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income allocated from the Master 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 using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and includes the income and expenses allocated from the Master. Financial Highlights of the Master: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended 2017 2016 Ratios to Average Limited Partners’ Capital:* Net investment loss** (0.6)% (1.7)% Operating expenses before expense reimbursements 1.2 % 2.0 % Expense reimbursements (0.1)% (0.2)% Operating expenses after expense reimbursements 1.1 % 1.8 % Total return (1.1)% 1.9 % * Annualized. ** Interest income less total expenses, net of expense reimbursements. The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class using the limited partners’ share of income, expenses and average partners’ capital.

Trading Activities

Trading Activities	3 Months Ended
	Mar. 31, 2017
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 Partnership invests substantially all of its assets through a “master-feeder” pro-rata The futures brokerage account agreements with MS&Co. give the Partnership and the Master, respectively, the legal right to net unrealized gains and losses on open futures, forward and option contracts. The Master nets, for financial reporting purposes, the unrealized gains and losses on open futures and forward contracts in the Statements of Financial Condition as the criteria under ASC 210-20, “Balance Sheet,” Trading and transaction fees are based on the number of trades executed by the Advisor for the Master and the Partnership’s percentage ownership of the Master. All clearing fees paid to MS&Co. are borne by the Master and allocated to the Master’s limited partners, including the Partnership. All of the commodity interests owned by the Master are held for trading purposes. The monthly average number of futures contracts traded by the Master during the three months ended March 31, 2017 and 2016 were 5,355 and 6,729, respectively. The monthly average number of option contracts traded by the Master during the three months ended March 31, 2017 and 2016 were 7,382 and 19,834, respectively. The monthly average number of metals forward contracts traded by the Master during the three months ended March 31, 2017 and 2016 were 125 and 0, respectively. The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Master’s derivatives and their offsetting subject to master netting agreements or similar arrangements as of March 31, 2017 and December 31, 2016, respectively. March 31, 2017 Gross Amounts Gross Amounts Amounts Gross Amounts Not Offset in the Financial Cash Collateral Net Amount Assets Futures $ 4,090,719 $ (2,665,625) $ 1,425,094 $ - $ - $ 1,425,094 Forwards 226,136 (217,726) 8,410 - - 8,410 Options purchased 1,978,877 - 1,978,877 (980,629) - 998,248 Total assets $ 6,295,732 $ (2,883,351) $ 3,412,381 $ (980,629) $ - $ 2,431,752 Liabilities Futures $ (2,665,625) $ 2,665,625 $ - $ - $ - $ - Forwards (217,726) 217,726 - - - - Options written (980,629) - (980,629) 980,629 - - Total liabilities $ (3,863,980) $ 2,883,351 $ (980,629) $ 980,629 $ - $ - Net fair value $ 2,431,752 * December 31, 2016 Gross Amounts Gross Amounts Amounts Gross Amounts Not Offset in the Financial Cash Collateral Net Amount Assets Futures $ 3,722,941 $ (3,182,925) $ 540,016 $ - $ - $ 540,016 Options purchased 4,278,469 - 4,278,469 (736,137) - 3,542,332 Total assets $ 8,001,410 $ (3,182,925) $ 4,818,485 $ (736,137) $ - $ 4,082,348 Liabilities Futures $ (3,182,925) $ 3,182,925 $ - $ - $ - $ - Options written (736,137) - (736,137) 736,137 - - Total liabilities $ (3,919,062) $ 3,182,925 $ (736,137) $ 736,137 $ - $ - Net fair value $ 4,082,348 * * In the event of default by the Master, MS&Co., the Master’s commodity futures broker and the sole counterparty to the Master’s off-exchange-traded The following tables indicate the Master’s gross fair values of derivative instruments of futures, forward and option contracts, as applicable, as separate assets and liabilities as of March 31, 2017 and December 31, 2016, respectively. March 31, 2017 Assets Futures Contracts Energy $ 2,513,088 Grains 609,791 Livestock 234,965 Softs 732,875 Total unrealized appreciation on open futures contracts 4,090,719 Liabilities Futures Contracts Energy (1,449,500) Grains (498,413) Livestock (39,063) Metals (3,262) Softs (675,387) Total unrealized depreciation on open futures contracts (2,665,625) Net unrealized appreciation on open futures contracts $ 1,425,094 * Assets Forward Contracts Metals $ 226,136 Total unrealized appreciation on open forward contracts 226,136 Liabilities Forward Contracts Metals $ (217,726) Total unrealized depreciation on open forward contracts (217,726) Net unrealized appreciation on open forward contracts $ 8,410 ** Assets Options Purchased Energy $ 732,245 Grains 449,531 Livestock 264,510 Softs 532,591 Total options purchased $ 1,978,877 *** Liabilities Options Written Energy $ (588,786) Grains (104,575) Livestock (29,790) Softs (257,478) Total options written $ (980,629) **** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Master’s Statements of Financial Condition. *** This amount is in “Options purchased, at fair value” in the Master’s Statements of Financial Condition. **** This amount is in “Options written, at fair value” in the Master’s Statements of Financial Condition. December 31, 2016 Assets Futures Contracts Energy $ 1,097,955 Grains 1,630,894 Softs 994,092 Total unrealized appreciation on open futures contracts 3,722,941 Liabilities Futures Contracts Energy (1,219,794) Grains (1,130,356) Livestock (9,035) Softs (823,740) Total unrealized depreciation on open futures contracts (3,182,925) Net unrealized appreciation on open futures contracts $ 540,016 * Assets Options Purchased Energy $ 472,920 Grains 907,463 Livestock 995,000 Softs 1,903,086 Total options purchased $ 4,278,469 ** Liabilities Options Written Grains $ (401,638) Softs (334,499) Total options written $ (736,137) *** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Options purchased, at fair value” in the Master’s Statements of Financial Condition. *** This amount is in “Options written, at fair value” in the Master’s Statements of Financial Condition. The following table indicates the Master’s total trading gains and losses, by market sector, on derivative instruments for the three months ended March 31, 2017 and 2016. Three Months Ended Sector 2017 2016 Currencies $ (3,799) $ 3,696 Energy (1,141,415) 1,828,010 Grains 331,415 521,703 Livestock (35,688) (33,461) Metals 239,638 212,820 Softs (525,835) 940,506 Total $ (1,135,684) * $ 3,473,274 * * This amount is in “Total trading results” in the Master’s Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Master’s 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 Master considers prices for exchange-traded commodity futures, forward, swap and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of U.S. Treasury bills, non-exchange-traded March 31, 2017 Total Level 1 Level 2 Level 3 Assets Futures $ 4,090,719 $ 4,090,719 $ - $ - Forwards 226,136 226,136 - - Options purchased 1,978,877 1,978,877 - - Total assets $ 6,295,732 $ 6,295,732 $ - $ - Liabilities Futures $ 2,665,625 $ 2,665,625 $ - $ - Forwards 217,726 217,726 - - Options written 980,629 980,629 - - Total liabilities $ 3,863,980 $ 3,863,980 $ - $ - December 31, 2016 Total Level 1 Level 2 Level 3 Assets U.S. Treasury bills $ 24,989,906 $ - $ 24,989,906 $ - Futures 3,722,941 3,722,941 - - Options purchased 4,278,469 4,278,469 - - Total assets $ 32,991,316 $ 8,001,410 $ 24,989,906 $ - Liabilities Futures $ 3,182,925 $ 3,182,925 $ - $ - Options written 736,137 736,137 - - Total liabilities $ 3,919,062 $ 3,919,062 $ - $ -

Financial Instrument Risks

Financial Instrument Risks	3 Months Ended
	Mar. 31, 2017
Investments, All Other Investments [Abstract]
Financial Instrument Risks	6. Financial Instrument Risks: In the normal course of business, the Partnership, through its investment in the Master, is party to financial instruments with off-balance-sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include futures, forwards, options and swaps, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, to purchase or sell other financial instruments at specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange, a swap execution facility or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, option and swap contracts. Certain swap contracts may also be traded on a swap execution facility or OTC. OTC contracts are negotiated between contracting parties and also include certain forward and option contracts. Specific market movements of commodities or futures contracts underlying an option cannot accurately be predicted. The purchaser of an option may lose the entire premium paid for the option. The writer or seller of an option has unlimited risk. Each of these instruments is subject to various risks similar to those 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. None of the Master’s contracts are traded OTC, although contracts may be traded OTC in the future. Futures Contracts. Options. marked-to-market marked-to-market As both a buyer and seller of options, the Master pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. Written options expose the Master 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/Master does not consider these contracts to be guarantees. London Metals Exchange Forward Contracts. Market risk is the potential for changes in the value of the financial instruments traded by the Master 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 Master is exposed to market risk equal to the value of the futures, options and forward contracts held and unlimited liability on such contracts sold short or written. 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/Master’s risk of loss in the event of a counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and is not represented by the contract or notional amounts of the instruments. The Partnership’s/Master’s risk of loss is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership/Master to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership/Master has credit risk and concentration risk, as MS&Co. or an MS&Co. affiliate is the sole counterparty or broker with respect to the Partnership’s/Master’s 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/Master’s counterparty is an exchange or clearing organization. The General Partner monitors and attempts to control the Partnership’s/Master’s 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/Master may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk-adjusted The risk to the limited partners that have purchased Redeemable Units is limited to the amount of their share of the Partnership’s net assets and undistributed profits. This limited liability is a result of the organization of the Partnership as a limited partnership under New York law. The majority of these financial instruments mature within one year of the inception date. However, due to the nature of the Partnership’s/Master’s business, these instruments may not be held to maturity. In the ordinary course of business, the Master enters into contracts and agreements that contain various representations and warranties and which provide general indemnifications. The Master’s maximum exposure under these arrangements cannot be determined, as this could include future claims that have not yet been made against the Master. The Master considers the risk of any future obligation relating to these indemnifications to be remote.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	7. 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 Sum14

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates.
Profit Allocation	Profit Allocation
Statement of Cash Flows	Statement of Cash Flows. “Statement of Cash Flows.”
Partnership's Investment	Partnership’s Investment.
Master's Investments	Master’s Investments. first-in, first-out
Master's Cash	Master’s Cash
Investment Company Status	Investment Company Status. 2013-08, Financial Services — Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements
Income Taxes	Income Taxes. “Income Taxes,” “more-likely-than-not” more-likely-than-not
Net Income (loss) per Redeemable Unit.	Net Income (loss) per Redeemable Unit. “Financial Services – Investment Companies.”

Basis of Presentation and Sum15

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Statements of Financial Condition	MB Master Fund L.P. Statements of Financial Condition (Unaudited) March 31, December 31, Assets: Equity in trading account: Investment in U.S. Treasury bills, at fair value (amortized cost $0 and $24,980,354 at March 31, 2017 and December 31, 2016, respectively) $ - $ 24,989,906 Cash at MS&Co. 110,325,347 96,314,966 Cash margin 6,496,544 3,225,180 Net unrealized appreciation on open futures contracts 1,425,094 540,016 Net unrealized appreciation on open forward contracts 8,410 - Options purchased, at fair value (cost $2,898,634 and $4,100,580 at March 31, 2017 and December 31, 2016, respectively) 1,978,877 4,278,469 Total equity in trading account 120,234,272 129,348,537 Cash at bank 1,022 217 Expense reimbursement 9,800 11,682 Total assets $ 120,245,094 $ 129,360,436 Liabilities and Partners’ Capital: Liabilities: Options written, at fair value (premiums received $1,323,024 and $1,111,935 at March 31, 2017 and December 31, 2016, respectively) $ 980,629 $ 736,137 Accrued expenses: Professional fees 47,245 31,494 Redemptions payable - 8,747,265 Total liabilities 1,027,874 9,514,896 Partners’ Capital: General Partner - - Limited Partners 119,217,220 119,845,540 Total partners’ capital (net asset value) 119,217,220 119,845,540 Total liabilities and partners’ capital $ 120,245,094 $ 129,360,436
Condensed Schedule of Investments	MB Master Fund L.P. Condensed Schedule of Investments March 31, 2017 (Unaudited) Number of Fair Value % of Partners’ Futures Contracts Purchased Energy 2,292 $ 2,385,078 2.00 % Grains 1,178 (439,945) (0.37) Livestock 219 195,691 0.16 Metals 9 (3,262) (0.00) * Softs 342 (621,027) (0.52) Total futures contracts purchased 1,516,535 1.27 Futures Contracts Sold Energy 1,213 (1,321,490) (1.11) Grains 713 551,323 0.46 Livestock 210 211 0.00 * Softs 573 678,515 0.58 Total futures contracts sold (91,441) (0.07) Net unrealized appreciation on open futures contracts $ 1,425,094 1.20 % Unrealized Appreciation on Open Forward Contracts Metals 69 $ 226,136 0.19 % Total unrealized appreciation on open forward contracts 226,136 0.19 Unrealized Depreciation on Open Forward Contracts Metals 155 (217,726) (0.18) Total unrealized depreciation on open forward contracts (217,726) (0.18) Net unrealized appreciation on open forward contracts $ 8,410 0.01 % Options Purchased Calls Energy 1,274 $ 732,245 0.61 % Grains 1,618 449,531 0.38 Livestock 255 200,700 0.17 Softs 1,117 450,781 0.38 Puts Livestock 150 63,810 0.05 Softs 50 81,810 0.07 Total options purchased (cost $2,898,634) $ 1,978,877 1.66 % Options Written Calls Grains 408 $ (50,663) (0.04) % Livestock 39 (17,640) (0.01) Softs 1,135 (70,192) (0.06) Puts Energy 190 (588,786) (0.49) Grains 38 (53,912) (0.05) Livestock 18 (12,150) (0.01) Softs 313 (187,286) (0.16) Total options written (premiums received $1,323,024) $ (980,629) (0.82) % * Due to rounding. MB Master Fund L.P. Condensed Schedule of Investments December 31, 2016 Number Fair Value % of Partners’ Futures Contracts Purchased Energy 1,050 $ 913,118 0.77 % Grains 2,584 (603,782) (0.50) Livestock 64 (9,035) (0.01) Softs 1,027 101,453 0.08 Total futures contracts purchased 401,754 0.34 Futures Contracts Sold Energy 754 (1,034,957) (0.87) Grains 2,022 1,104,320 0.92 Softs 483 68,899 0.06 Total futures contracts sold 138,262 0.11 Net unrealized appreciation on open futures contracts $ 540,016 0.45 % Options Purchased Calls Energy 1,938 $ 472,920 0.39 % Grains 1,565 679,313 0.57 Livestock 824 879,120 0.73 Softs 1,888 1,688,119 1.41 Puts Grains 468 228,150 0.19 Livestock 475 115,880 0.10 Softs 210 214,967 0.18 Total options purchased (cost $4,100,580) $ 4,278,469 3.57 % Options Written Calls Grains 197 $ (41,863) (0.03) % Softs 1,274 (314,686) (0.26) Puts Grains 468 (359,775) (0.30) Softs 164 (19,813) (0.02) Total options written (premiums received $1,111,935) $ (736,137) (0.61) % U.S. Government Securities Face Amount Maturity Date Description Fair Value % of Partners’ $ 25,000,000 2/2/2017 U.S. Treasury bills, 0.41%* (Amortized cost of $24,980,354) $ 24,989,906 20.85 % *Liquid non-cash
Statements of Income and Expenses and Changes in Partners' Capital	MB Master Fund L.P. Statements of Income and Expenses and Changes in Partners’ Capital (Unaudited) Three Months Ended March 31, 2017 2016 Investment Income: Interest income $ 148,399 $ 62,468 Expenses: Clearing fees 350,825 721,490 Professional fees 15,945 20,523 Total expenses 366,770 742,013 Expense reimbursements (25,456) (53,540) Net expenses 341,314 688,473 Net investment loss (192,915) (626,005) Trading Results: Net gains (losses) on trading of commodity interests: Net realized gains (losses) on closed contracts (894,323) 4,869,008 Net change in unrealized gains (losses) on open contracts (241,361) (1,395,734) Total trading results (1,135,684) 3,473,274 Net income (loss) (1,328,599) 2,847,269 Subscriptions—Limited Partners 9,703,900 5,025,000 Redemptions—Limited Partners (8,865,316) (21,314,819) Distribution of interest income to feeder funds (138,305) (7,744) Net increase (decrease) in Partners’ Capital (628,320) (13,450,294) Partners’ Capital, beginning of period 119,845,540 159,372,646 Partners’ Capital, end of period $ 119,217,220 $ 145,922,352

Financial Highlights (Tables)

Financial Highlights (Tables)	3 Months Ended
	Mar. 31, 2017
Text Block [Abstract]
Financial Highlights for Limited Partner Class	Financial highlights for the limited partner class as a whole for the three months ended March 31, 2017 and 2016 were as follows: Class A Three Months Ended March 31, 2017 2016 Per Redeemable Unit Performance (for a unit outstanding throughout the period):* Net realized and unrealized gains (losses) $ (12.63) $ 31.57 Net investment loss (17.55) (20.24) Increase (decrease) for the period (30.18) 11.33 Net asset value per Redeemable Unit, beginning of period 1,335.70 1,268.38 Net asset value per Redeemable Unit, end of period $ 1,305.52 $ 1,279.71 Three Months Ended March 31, 2017 2016 Ratios to Average Limited Partners’ Capital:** Net investment loss*** (5.6) % (6.6) % Operating expenses 6.1 % 6.8 % Incentive fees - % - % Total expenses 6.1 % 6.8 % Total return: Total return before incentive fees (2.3) % 0.9 % Incentive fees - % - % Total return after incentive fees (2.3) % 0.9 % * Net investment loss per Redeemable Unit is calculated by dividing the expenses net of interest income by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information. ** Annualized (except for incentive fees). *** Interest income allocated from the Master 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 using the limited partners’ share of income, expenses and average partners’ capital of the Partnership and includes the income and expenses allocated from the Master. Financial Highlights of the Master: Financial highlights for the limited partner class as a whole for the three months ended March 31, 2017 and 2016 were as follows: Three Months Ended 2017 2016 Ratios to Average Limited Partners’ Capital:* Net investment loss** (0.6)% (1.7)% Operating expenses before expense reimbursements 1.2 % 2.0 % Expense reimbursements (0.1)% (0.2)% Operating expenses after expense reimbursements 1.1 % 1.8 % Total return (1.1)% 1.9 % * Annualized. ** Interest income less total expenses, net of expense reimbursements.

Trading Activities (Tables)

Trading Activities (Tables)	3 Months Ended
	Mar. 31, 2017
Brokers and Dealers [Abstract]
Summary of Valuation of Master's Investments	The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Master’s derivatives and their offsetting subject to master netting agreements or similar arrangements as of March 31, 2017 and December 31, 2016, respectively. March 31, 2017 Gross Amounts Gross Amounts Amounts Gross Amounts Not Offset in the Financial Cash Collateral Net Amount Assets Futures $ 4,090,719 $ (2,665,625) $ 1,425,094 $ - $ - $ 1,425,094 Forwards 226,136 (217,726) 8,410 - - 8,410 Options purchased 1,978,877 - 1,978,877 (980,629) - 998,248 Total assets $ 6,295,732 $ (2,883,351) $ 3,412,381 $ (980,629) $ - $ 2,431,752 Liabilities Futures $ (2,665,625) $ 2,665,625 $ - $ - $ - $ - Forwards (217,726) 217,726 - - - - Options written (980,629) - (980,629) 980,629 - - Total liabilities $ (3,863,980) $ 2,883,351 $ (980,629) $ 980,629 $ - $ - Net fair value $ 2,431,752 * December 31, 2016 Gross Amounts Gross Amounts Amounts Gross Amounts Not Offset in the Financial Cash Collateral Net Amount Assets Futures $ 3,722,941 $ (3,182,925) $ 540,016 $ - $ - $ 540,016 Options purchased 4,278,469 - 4,278,469 (736,137) - 3,542,332 Total assets $ 8,001,410 $ (3,182,925) $ 4,818,485 $ (736,137) $ - $ 4,082,348 Liabilities Futures $ (3,182,925) $ 3,182,925 $ - $ - $ - $ - Options written (736,137) - (736,137) 736,137 - - Total liabilities $ (3,919,062) $ 3,182,925 $ (736,137) $ 736,137 $ - $ - Net fair value $ 4,082,348 * * In the event of default by the Master, MS&Co., the Master’s commodity futures broker and the sole counterparty to the Master’s off-exchange-traded
Gross Fair Values of Derivative Instruments of Futures, Forward and Option Contracts, as Applicable, as Separate Assets and Liabilities	The following tables indicate the Master’s gross fair values of derivative instruments of futures, forward and option contracts, as applicable, as separate assets and liabilities as of March 31, 2017 and December 31, 2016, respectively. March 31, 2017 Assets Futures Contracts Energy $ 2,513,088 Grains 609,791 Livestock 234,965 Softs 732,875 Total unrealized appreciation on open futures contracts 4,090,719 Liabilities Futures Contracts Energy (1,449,500) Grains (498,413) Livestock (39,063) Metals (3,262) Softs (675,387) Total unrealized depreciation on open futures contracts (2,665,625) Net unrealized appreciation on open futures contracts $ 1,425,094 * Assets Forward Contracts Metals $ 226,136 Total unrealized appreciation on open forward contracts 226,136 Liabilities Forward Contracts Metals $ (217,726) Total unrealized depreciation on open forward contracts (217,726) Net unrealized appreciation on open forward contracts $ 8,410 ** Assets Options Purchased Energy $ 732,245 Grains 449,531 Livestock 264,510 Softs 532,591 Total options purchased $ 1,978,877 *** Liabilities Options Written Energy $ (588,786) Grains (104,575) Livestock (29,790) Softs (257,478) Total options written $ (980,629) **** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Net unrealized appreciation on open forward contracts” in the Master’s Statements of Financial Condition. *** This amount is in “Options purchased, at fair value” in the Master’s Statements of Financial Condition. **** This amount is in “Options written, at fair value” in the Master’s Statements of Financial Condition. December 31, 2016 Assets Futures Contracts Energy $ 1,097,955 Grains 1,630,894 Softs 994,092 Total unrealized appreciation on open futures contracts 3,722,941 Liabilities Futures Contracts Energy (1,219,794) Grains (1,130,356) Livestock (9,035) Softs (823,740) Total unrealized depreciation on open futures contracts (3,182,925) Net unrealized appreciation on open futures contracts $ 540,016 * Assets Options Purchased Energy $ 472,920 Grains 907,463 Livestock 995,000 Softs 1,903,086 Total options purchased $ 4,278,469 ** Liabilities Options Written Grains $ (401,638) Softs (334,499) Total options written $ (736,137) *** * This amount is in “Net unrealized appreciation on open futures contracts” in the Master’s Statements of Financial Condition. ** This amount is in “Options purchased, at fair value” in the Master’s Statements of Financial Condition. *** This amount is in “Options written, at fair value” in the Master’s Statements of Financial Condition.
Trading Gains and Losses, by Market Sector, on Derivative Instruments	The following table indicates the Master’s total trading gains and losses, by market sector, on derivative instruments for the three months ended March 31, 2017 and 2016. Three Months Ended Sector 2017 2016 Currencies $ (3,799) $ 3,696 Energy (1,141,415) 1,828,010 Grains 331,415 521,703 Livestock (35,688) (33,461) Metals 239,638 212,820 Softs (525,835) 940,506 Total $ (1,135,684) * $ 3,473,274 * * This amount is in “Total trading results” in the Master’s Statements of Income and Expenses and Changes in Partners’ Capital.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Derivative Instrument Fair Value Based on Hierarchy	March 31, 2017 Total Level 1 Level 2 Level 3 Assets Futures $ 4,090,719 $ 4,090,719 $ - $ - Forwards 226,136 226,136 - - Options purchased 1,978,877 1,978,877 - - Total assets $ 6,295,732 $ 6,295,732 $ - $ - Liabilities Futures $ 2,665,625 $ 2,665,625 $ - $ - Forwards 217,726 217,726 - - Options written 980,629 980,629 - - Total liabilities $ 3,863,980 $ 3,863,980 $ - $ - December 31, 2016 Total Level 1 Level 2 Level 3 Assets U.S. Treasury bills $ 24,989,906 $ - $ 24,989,906 $ - Futures 3,722,941 3,722,941 - - Options purchased 4,278,469 4,278,469 - - Total assets $ 32,991,316 $ 8,001,410 $ 24,989,906 $ - Liabilities Futures $ 3,182,925 $ 3,182,925 $ - $ - Options written 736,137 736,137 - - Total liabilities $ 3,919,062 $ 3,919,062 $ - $ -

Organization - Additional Infor

Organization - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Feb. 01, 2013	Sep. 06, 2005	Mar. 31, 2017
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Partnership owned	88.10%	88.10%
Morgan Stanley Wealth Management [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ongoing selling agent fee					2.00%
Class A [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of units sold during initial offering period				11,925
MB Master Fund L.P. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Cash equal, Partnership purchased			$ 262,944,186

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash denominated in foreign currencies	$ (219,624)	$ (215,708)
Cash denominated in foreign currencies, proceeds	$ 220,150	$ 220,034

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Financial Condition (Detail) - USD ($)		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $0 and $24,980,354 at March 31, 2017 and December 31, 2016, respectively)	[1]	$ 105,071,944	$ 105,585,464
Cash at MS&Co.		254,050	231,090
Cash at bank		1,022	217
Total assets		105,327,016	105,816,771
Accrued expenses:
Professional fees		253,291	233,661
Redemptions payable		3,021,830	1,776,067
Total liabilities		3,645,204	2,383,727
Partners' Capital:
Total partners' capital (net asset value)		101,681,812	103,433,044	$ 121,387,532	$ 132,292,532
Total liabilities and partners' capital		105,327,016	105,816,771
Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation on open forward contracts		8,410
MB Master Fund L.P. [Member]
Equity in trading account:
Investment in U.S. Treasury bills, at fair value (amortized cost $0 and $24,980,354 at March 31, 2017 and December 31, 2016, respectively)			24,989,906
Cash at MS&Co.		110,325,347	96,314,966
Cash margin		6,496,544	3,225,180
Options purchased, at fair value (cost $2,898,634 and $4,100,580 at March 31, 2017 and December 31, 2016, respectively)		1,978,877	4,278,469
Total equity in trading account		120,234,272	129,348,537
Cash at bank		1,022	217
Expense reimbursement		9,800	11,682
Total assets		120,245,094	129,360,436
Liabilities:
Options written, at fair value (premiums received $1,323,024 and $1,111,935 at March 31, 2017 and December 31, 2016, respectively)		980,629	736,137
Accrued expenses:
Professional fees		47,245	31,494
Redemptions payable			8,747,265
Total liabilities		1,027,874	9,514,896
Partners' Capital:
General Partner		0	0
Limited Partners		119,217,220	119,845,540
Total partners' capital (net asset value)		119,217,220	119,845,540	$ 145,922,352	$ 159,372,646
Total liabilities and partners' capital		120,245,094	129,360,436
MB Master Fund L.P. [Member] | Futures [Member]
Equity in trading account:
Net unrealized appreciation on open forward contracts		1,425,094	$ 540,016
MB Master Fund L.P. [Member] | Forward Contracts [Member]
Equity in trading account:
Net unrealized appreciation on open forward contracts		$ 8,410
[1]	Defined in Note 1.

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Financial Condition (Parenthetical) (Detail) - MB Master Fund L.P. [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Investment in U.S. Treasury bills, cost	$ 0	$ 24,980,354
Cost of options purchased	2,898,634	4,100,580
Stock option redemption premium	$ 1,323,024	$ 1,111,935

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies - Condensed Schedule of Investments (Detail)		12 Months Ended
		Dec. 31, 2016USD ($)Derivative	Mar. 31, 2017USD ($)Derivative
Schedule of Investments [Line Items]
Investment, Fair Value	[1]	$ 105,585,464	$ 105,071,944
Forward Contracts [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value			$ 8,410
Percentage of Partners' Capital			0.01%
Forward Contracts [Member] | Net Unrealized Depreciation On Open Forward Contracts [Member]
Schedule of Investments [Line Items]
Unrealized Depreciation on Open Forward Contracts			$ (217,726)
Percentage of Partners' Capital			0.18%
Forward Contracts [Member] | Metals [Member] | Net Unrealized Depreciation On Open Forward Contracts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			155
Unrealized Depreciation on Open Forward Contracts			$ (217,726)
Percentage of Partners' Capital			0.18%
MB Master Fund L.P. [Member]
Schedule of Investments [Line Items]
Investment, Fair Value		24,989,906
MB Master Fund L.P. [Member] | Contracts Purchased [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 401,754	$ 1,516,535
Percentage of Partners' Capital		0.34%	1.27%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 4,278,469	$ 1,978,877
Percentage of Partners' Capital		3.57%	1.66%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Energy [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,938	1,274
Investment in Master, at fair value		$ 472,920	$ 732,245
Percentage of Partners' Capital		0.39%	0.61%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Grains [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,565	1,618
Investment in Master, at fair value		$ 679,313	$ 449,531
Percentage of Partners' Capital		0.57%	0.38%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Grains [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		468
Investment in Master, at fair value		$ 228,150
Percentage of Partners' Capital		0.19%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Livestock [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		824	255
Investment in Master, at fair value		$ 879,120	$ 200,700
Percentage of Partners' Capital		0.73%	0.17%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Livestock [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		475	150
Investment in Master, at fair value		$ 115,880	$ 63,810
Percentage of Partners' Capital		0.10%	0.05%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Softs [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,888	1,117
Investment in Master, at fair value		$ 1,688,119	$ 450,781
Percentage of Partners' Capital		1.41%	0.38%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member] | Softs [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		210	50
Investment in Master, at fair value		$ 214,967	$ 81,810
Percentage of Partners' Capital		0.18%	0.07%
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ (736,137)	$ (980,629)
Percentage of Partners' Capital		(0.61%)	(0.82%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Energy [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			190
Investment in Master, at fair value			$ (588,786)
Percentage of Partners' Capital			(0.49%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Grains [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		197	408
Investment in Master, at fair value		$ (41,863)	$ (50,663)
Percentage of Partners' Capital		(0.03%)	(0.04%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Grains [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		468	38
Investment in Master, at fair value		$ (359,775)	$ (53,912)
Percentage of Partners' Capital		(0.30%)	(0.05%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Livestock [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			39
Investment in Master, at fair value			$ (17,640)
Percentage of Partners' Capital			(0.01%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Livestock [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			18
Investment in Master, at fair value			$ (12,150)
Percentage of Partners' Capital			(0.01%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Softs [Member] | Calls [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,274	1,135
Investment in Master, at fair value		$ (314,686)	$ (70,192)
Percentage of Partners' Capital		(0.26%)	(0.06%)
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member] | Softs [Member] | Puts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		164	313
Investment in Master, at fair value		$ (19,813)	$ (187,286)
Percentage of Partners' Capital		(0.02%)	(0.16%)
MB Master Fund L.P. [Member] | Futures [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 540,016	$ 1,425,094
Percentage of Partners' Capital		0.45%	1.20%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,050	2,292
Investment in Master, at fair value		$ 913,118	$ 2,385,078
Percentage of Partners' Capital		0.77%	2.00%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		2,584	1,178
Investment in Master, at fair value		$ (603,782)	$ (439,945)
Percentage of Partners' Capital		(0.50%)	(0.37%)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Livestock [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		64	219
Investment in Master, at fair value		$ (9,035)	$ 195,691
Percentage of Partners' Capital		(0.01%)	0.16%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Metals [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			9
Investment in Master, at fair value			$ (3,262)
Percentage of Partners' Capital			0.00%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		1,027	342
Investment in Master, at fair value		$ 101,453	$ (621,027)
Percentage of Partners' Capital		0.08%	(0.52%)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value		$ 138,262	$ (91,441)
Percentage of Partners' Capital		0.11%	(0.07%)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Energy [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		754	1,213
Investment in Master, at fair value		$ (1,034,957)	$ (1,321,490)
Percentage of Partners' Capital		(0.87%)	(1.11%)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Grains [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		2,022	713
Investment in Master, at fair value		$ 1,104,320	$ 551,323
Percentage of Partners' Capital		0.92%	0.46%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Livestock [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			210
Investment in Master, at fair value			$ 211
Percentage of Partners' Capital			0.00%
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Softs [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative		483	573
Investment in Master, at fair value		$ 68,899	$ 678,515
Percentage of Partners' Capital		0.06%	0.58%
MB Master Fund L.P. [Member] | Forward Contracts [Member]
Schedule of Investments [Line Items]
Investment in Master, at fair value			$ 8,410
MB Master Fund L.P. [Member] | Forward Contracts [Member] | Net Unrealized Appreciation On Open Forward Contracts [Member]
Schedule of Investments [Line Items]
Unrealized Appreciation on Open Forward Contracts			$ 226,136
Percentage of Partners' Capital			0.19%
MB Master Fund L.P. [Member] | Forward Contracts [Member] | Metals [Member] | Net Unrealized Appreciation On Open Forward Contracts [Member]
Schedule of Investments [Line Items]
Number of Contracts | Derivative			69
Unrealized Appreciation on Open Forward Contracts			$ 226,136
Percentage of Partners' Capital			0.19%
MB Master Fund L.P. [Member] | U.S. Treasury Bills 0.41% [Member]
Schedule of Investments [Line Items]
Investment, Face Amount		$ 25,000,000
Investment, Maturity Date		Feb. 2, 2017
Investment, Fair Value		$ 24,989,906
Percentage of Partners' Capital		20.85%
[1]	Defined in Note 1.

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies - Condensed Schedule of Investments (Parenthetical) (Detail) - MB Master Fund L.P. [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2017
Schedule of Investments [Line Items]
Investment in U.S. Treasury bills, Amortized cost	$ 24,980,354	$ 0
Stock option redemption premium	1,111,935	1,323,024
Option [Member] | Contracts Purchased [Member]
Schedule of Investments [Line Items]
Investment in U.S. Treasury bills, Amortized cost	4,100,580	2,898,634
Option [Member] | Contracts Sold [Member]
Schedule of Investments [Line Items]
Stock option redemption premium	1,111,935	$ 1,323,024
U.S. Treasury Bills 0.41% [Member]
Schedule of Investments [Line Items]
Investment in U.S. Treasury bills, Amortized cost	$ 24,980,354
Investment, interest rate	0.41%

Basis of Presentation and Sum25

Basis of Presentation and Summary of Significant Accounting Policies - Statements of Income and Expenses and Changes in Partners' Capital (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Investment Income:
Interest income	$ 132,983	$ 53,356
Expenses:
Professional fees	96,909	109,555
Total expenses	1,561,980	2,113,507
Net investment loss	(1,428,997)	(2,060,151)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts	(790,896)	4,176,312
Net change in unrealized gains (losses) on open contracts	(241,643)	(1,205,926)
Total trading results	(1,032,539)	2,970,386
Net income (loss)	(2,461,536)	910,235
Partners' Capital, beginning of period	103,433,044	132,292,532
Partners' Capital, end of period	101,681,812	121,387,532
MB Master Fund L.P. [Member]
Investment Income:
Interest income	148,399	62,468
Expenses:
Clearing fees	350,825	721,490
Professional fees	15,945	20,523
Total expenses	366,770	742,013
Expense reimbursements	(25,456)	(53,540)
Net expenses	341,314	688,473
Net investment loss	(192,915)	(626,005)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts	(894,323)	4,869,008
Net change in unrealized gains (losses) on open contracts	(241,361)	(1,395,734)
Total trading results	(1,135,684)	3,473,274
Net income (loss)	(1,328,599)	2,847,269
Subscriptions-Limited Partners	9,703,900	5,025,000
Redemptions-Limited Partners	(8,865,316)	(21,314,819)
Distribution of interest income to feeder funds	(138,305)	(7,744)
Net increase (decrease) in Partners' Capital	(628,320)	(13,450,294)
Partners' Capital, beginning of period	119,845,540	159,372,646
Partners' Capital, end of period	$ 119,217,220	$ 145,922,352

Financial Highlights - Financia

Financial Highlights - Financial Highlights for Limited Partner Class (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
MB Master Fund L.P. [Member]
Ratios to Average Limited Partners' Capital:
Net investment loss	(0.60%)	(1.70%)
Operating expenses before expense reimbursements	1.20%	2.00%
Expense reimbursements	(0.10%)	(0.20%)
Operating expenses after expense reimbursements	1.10%	1.80%
Total return	(1.10%)	1.90%
Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net asset value per Redeemable Unit, beginning of period	$ 1,335.70
Net asset value per Redeemable Unit, end of period	1,305.52	$ 1,279.71
Limited Partners [Member] | Class A [Member]
Per Redeemable Unit Performance (for a unit outstanding throughout the period):
Net realized and unrealized gains (losses)	(12.63)	31.57
Net investment loss	(17.55)	(20.24)
Increase (decrease) for the period	(30.18)	11.33
Net asset value per Redeemable Unit, beginning of period	1,335.70	1,268.38
Net asset value per Redeemable Unit, end of period	$ 1,305.52	$ 1,279.71
Ratios to Average Limited Partners' Capital:
Net investment loss	(5.60%)	(6.60%)
Operating expenses	6.10%	6.80%
Incentive fees	0.00%	0.00%
Total expenses	6.10%	6.80%
Total return:
Total return before incentive fees	(2.30%)	0.90%
Incentive fees	(0.00%)	(0.00%)
Total return after incentive fees	(2.30%)	0.90%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Contractshares	Mar. 31, 2016Contractshares
Brokers and Dealers [Abstract]
Monthly average number of futures contracts traded	5,355	6,729
Average number of options contracts traded | shares	7,382	19,834
Monthly average number of metals forward contracts traded	125	0

Trading Activities - Summary of

Trading Activities - Summary of Valuation of Master's Investments (Detail) - MB Master Fund L.P. [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 6,295,732	$ 8,001,410
Gross Amounts Offset in the Statements of Financial Condition, Assets	(2,883,351)	(3,182,925)
Amounts Presented in the Statements of Financial Condition, Assets	3,412,381	4,818,485
Financial Instruments, Assets	(980,629)	(736,137)
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	2,431,752	4,082,348
Gross Amounts Recognized, Liabilities	(3,863,980)	(3,919,062)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	2,883,351	3,182,925
Net Amounts Presented in the Statements of Financial Condition, Liabilities	(980,629)	(736,137)
Financial Instruments, Liabilities	980,629	736,137
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	0	0
Net fair value	2,431,752	4,082,348
Futures [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	4,090,719	3,722,941
Gross Amounts Offset in the Statements of Financial Condition, Assets	(2,665,625)	(3,182,925)
Amounts Presented in the Statements of Financial Condition, Assets	1,425,094	540,016
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	1,425,094	540,016
Gross Amounts Recognized, Liabilities	(2,665,625)	(3,182,925)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	2,665,625	3,182,925
Collateral Received/Pledged, Liabilities	0	0
Net Amount, Liabilities	0	0
Forward Contracts [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	226,136
Gross Amounts Offset in the Statements of Financial Condition, Assets	(217,726)
Amounts Presented in the Statements of Financial Condition, Assets	8,410
Collateral Received/Pledged, Assets	0
Net Amount, Assets	8,410
Gross Amounts Recognized, Liabilities	(217,726)
Gross Amounts Offset in the Statements of Financial Condition, Liabilities	217,726
Collateral Received/Pledged, Liabilities	0
Net Amount, Liabilities	0
Option [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	1,978,877	4,278,469
Amounts Presented in the Statements of Financial Condition, Assets	1,978,877	4,278,469
Financial Instruments, Assets	(980,629)	(736,137)
Collateral Received/Pledged, Assets	0	0
Net Amount, Assets	998,248	3,542,332
Option [Member] | Contracts Sold [Member]
Derivative [Line Items]
Gross Amounts Recognized, Liabilities	(980,629)	(736,137)
Net Amounts Presented in the Statements of Financial Condition, Liabilities	(980,629)	(736,137)
Financial Instruments, Liabilities	980,629	736,137
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, Forward and Option Contracts, as Applicable, as Separate Assets and Liabilities (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Forward Contracts [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	$ 8,410
MB Master Fund L.P. [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	1,516,535	$ 401,754
MB Master Fund L.P. [Member] | Futures [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	1,425,094	540,016
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Energy [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	2,385,078	913,118
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Grains [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(439,945)	(603,782)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Livestock [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	195,691	(9,035)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Softs [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(621,027)	101,453
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Purchased [Member] | Metals [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(3,262)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(91,441)	138,262
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Energy [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(1,321,490)	(1,034,957)
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Grains [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	551,323	1,104,320
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Livestock [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	211
MB Master Fund L.P. [Member] | Futures [Member] | Contracts Sold [Member] | Softs [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	678,515	68,899
MB Master Fund L.P. [Member] | Forward Contracts [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	8,410
MB Master Fund L.P. [Member] | Option [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	1,978,877	4,278,469
MB Master Fund L.P. [Member] | Option [Member] | Contracts Sold [Member]
Derivative [Line Items]
Net unrealized appreciation (depreciation) on open contracts	(980,629)	(736,137)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member]
Derivative [Line Items]
Derivative liabilities	(2,665,625)	(3,182,925)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member] | Energy [Member]
Derivative [Line Items]
Derivative liabilities	(1,449,500)	(1,219,794)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member] | Grains [Member]
Derivative [Line Items]
Derivative liabilities	(498,413)	(1,130,356)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member] | Livestock [Member]
Derivative [Line Items]
Derivative liabilities	(39,063)	(9,035)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member] | Softs [Member]
Derivative [Line Items]
Derivative liabilities	(675,387)	(823,740)
MB Master Fund L.P. [Member] | Liabilities [Member] | Futures [Member] | Metals [Member]
Derivative [Line Items]
Derivative liabilities	(3,262)
MB Master Fund L.P. [Member] | Liabilities [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative liabilities	(217,726)
MB Master Fund L.P. [Member] | Liabilities [Member] | Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Derivative liabilities	(217,726)
MB Master Fund L.P. [Member] | Liabilities [Member] | Option [Member] | Contracts Sold [Member]
Derivative [Line Items]
Derivative liabilities	(980,629)	(736,137)
MB Master Fund L.P. [Member] | Liabilities [Member] | Option [Member] | Contracts Sold [Member] | Energy [Member]
Derivative [Line Items]
Derivative liabilities	(588,786)
MB Master Fund L.P. [Member] | Liabilities [Member] | Option [Member] | Contracts Sold [Member] | Grains [Member]
Derivative [Line Items]
Derivative liabilities	(104,575)	(401,638)
MB Master Fund L.P. [Member] | Liabilities [Member] | Option [Member] | Contracts Sold [Member] | Livestock [Member]
Derivative [Line Items]
Derivative liabilities	(29,790)
MB Master Fund L.P. [Member] | Liabilities [Member] | Option [Member] | Contracts Sold [Member] | Softs [Member]
Derivative [Line Items]
Derivative liabilities	(257,478)	(334,499)
MB Master Fund L.P. [Member] | Assets [Member] | Futures [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	4,090,719	3,722,941
MB Master Fund L.P. [Member] | Assets [Member] | Futures [Member] | Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	2,513,088	1,097,955
MB Master Fund L.P. [Member] | Assets [Member] | Futures [Member] | Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	609,791	1,630,894
MB Master Fund L.P. [Member] | Assets [Member] | Futures [Member] | Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	234,965
MB Master Fund L.P. [Member] | Assets [Member] | Futures [Member] | Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	732,875	994,092
MB Master Fund L.P. [Member] | Assets [Member] | Forward Contracts [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	226,136
MB Master Fund L.P. [Member] | Assets [Member] | Forward Contracts [Member] | Metals [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	226,136
MB Master Fund L.P. [Member] | Assets [Member] | Option [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	1,978,877	4,278,469
MB Master Fund L.P. [Member] | Assets [Member] | Option [Member] | Contracts Purchased [Member] | Energy [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	732,245	472,920
MB Master Fund L.P. [Member] | Assets [Member] | Option [Member] | Contracts Purchased [Member] | Grains [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	449,531	907,463
MB Master Fund L.P. [Member] | Assets [Member] | Option [Member] | Contracts Purchased [Member] | Livestock [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	264,510	995,000
MB Master Fund L.P. [Member] | Assets [Member] | Option [Member] | Contracts Purchased [Member] | Softs [Member]
Derivative [Line Items]
Total unrealized appreciation on open futures and forward contracts	$ 532,591	$ 1,903,086

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses, by Market Sector, on Derivative Instruments (Detail) - MB Master Fund L.P. [Member] - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Derivative [Line Items]
Trading gains and losses	$ (1,135,684)	$ 3,473,274
Currencies [Member]
Derivative [Line Items]
Trading gains and losses	(3,799)	3,696
Energy [Member]
Derivative [Line Items]
Trading gains and losses	(1,141,415)	1,828,010
Grains [Member]
Derivative [Line Items]
Trading gains and losses	331,415	521,703
Livestock [Member]
Derivative [Line Items]
Trading gains and losses	(35,688)	(33,461)
Metals [Member]
Derivative [Line Items]
Trading gains and losses	239,638	212,820
Softs [Member]
Derivative [Line Items]
Trading gains and losses	$ (525,835)	$ 940,506

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Transfers of assets between Level 1 and Level 2	$ 0	$ 0
Transfers of liabilities between Level 1 and Level 2	$ 0	$ 0

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instrument Fair Value Based on Hierarchy (Detail) - MB Master Fund L.P. [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Derivative assets	$ 6,295,732	$ 32,991,316
Derivative liabilities	3,863,980	3,919,062
U.S. Treasury Bills [Member]
Derivative [Line Items]
Derivative assets		24,989,906
Futures [Member]
Derivative [Line Items]
Derivative assets	4,090,719	3,722,941
Derivative liabilities	2,665,625	3,182,925
Forward Contracts [Member]
Derivative [Line Items]
Derivative assets	226,136
Derivative liabilities	217,726
Option [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Derivative assets	1,978,877	4,278,469
Option [Member] | Contracts Sold [Member]
Derivative [Line Items]
Derivative liabilities	980,629	736,137
Level 1 [Member]
Derivative [Line Items]
Derivative assets	6,295,732	8,001,410
Derivative liabilities	3,863,980	3,919,062
Level 1 [Member] | Futures [Member]
Derivative [Line Items]
Derivative assets	4,090,719	3,722,941
Derivative liabilities	2,665,625	3,182,925
Level 1 [Member] | Forward Contracts [Member]
Derivative [Line Items]
Derivative assets	226,136
Derivative liabilities	217,726
Level 1 [Member] | Option [Member] | Contracts Purchased [Member]
Derivative [Line Items]
Derivative assets	1,978,877	4,278,469
Level 1 [Member] | Option [Member] | Contracts Sold [Member]
Derivative [Line Items]
Derivative liabilities	$ 980,629	736,137
Level 2 [Member]
Derivative [Line Items]
Derivative assets		24,989,906
Level 2 [Member] | U.S. Treasury Bills [Member]
Derivative [Line Items]
Derivative assets		$ 24,989,906

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017
Investments, All Other Investments [Abstract]
Financial instruments maturity period	1 year