Graham Alternative Investment Fund I 10-K 28 Mar 14 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Mar. 01, 2014	Jun. 30, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'GRAHAM ALTERNATIVE INVESTMENT FUND I LLC	'	'
Entity Central Index Key	'0001461219	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Public Float	'	'	$112,648,921
Entity Common Stock, Shares Outstanding	'	837,668.13	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Dec-13	'	'

Statements_of_Financial_Condit

Statements of Financial Condition (USD $)	Dec. 31, 2013	Dec. 31, 2012
Assets	'	'
Investment in Graham Alternative Investment Trading LLC, at fair value	$99,045,133	$167,871,994
Redemption receivable from Graham Alternative Investment Trading LLC	3,619,464	14,897,527
Total assets	102,664,597	182,769,521
Liabilities:	'	'
Accrued redemptions	3,619,464	14,897,527
Total liabilities	3,619,464	14,897,527
Members' capital:	'	'
Total members' capital	99,045,133	167,871,994
Total liabilities and members' capital	102,664,597	182,769,521
Class 0 Units [Member]	'	'
Members' capital:	'	'
Total members' capital	77,340,803	142,637,622
Class 2 Units [Member]	'	'
Members' capital:	'	'
Total members' capital	$21,704,330	$25,234,372

Statements_of_Financial_Condit1

Statements of Financial Condition (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Class 0 Units [Member]	'	'
Members' capital:	'	'
Capital units, issued (in units)	605,548.07	1,241,639.09
Capital units, outstanding (in units)	605,548.07	1,241,639.09
Capital units, value (in dollars per unit)	$127.72	$114.88
Class 2 Units [Member]	'	'
Members' capital:	'	'
Capital units, issued (in units)	220,552.04	279,471.81
Capital units, outstanding (in units)	220,552.04	279,471.81
Capital units, value (in dollars per unit)	$98.41	$90.29

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Net gain (loss) allocated from investment in Graham Alternative Investment Trading LLC:	'	'
Net realized gain (loss) on investments	$17,936,766	($6,080,397)
Net increase in unrealized appreciation on investments	1,811,471	1,541,892
Brokerage commissions and fees	-729,469	0
Net gain (loss) allocated from investment in Graham Alternative Investment Trading LLC	19,018,768	-4,538,505
Investment income:	'	'
Interest income	252,782	469,762
Expenses:	'	'
Brokerage fees	0	5,302,779
Advisory fees	2,265,702	4,624,375
Sponsor fees	1,445,880	2,312,187
Professional fees and other	353,727	50,768
Administrator's fees	168,689	0
Total expenses	4,233,998	12,290,109
Net investment loss allocated from investment in Graham Alternative Investment Trading LLC	-3,981,216	-11,820,347
Net income (loss)	$15,037,552	($16,358,852)

Statements_of_Changes_in_Membe

Statements of Changes in Members' Capital (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Increase (Decrease) in Partners' Capital [Roll Forward]	'	'
Members' capital	$167,871,994	$263,929,118
Subscriptions	6,464,382	10,464,469
Redemptions	-90,328,795	-90,162,741
Net income (loss)	15,037,552	-16,358,852
Members' capital	99,045,133	167,871,994
Class 0 Units [Member]	'	'
Increase (Decrease) in Partners' Capital [Roll Forward]	'	'
Members' capital	142,637,622	223,427,719
Members' capital (in units)	1,241,639.09	1,814,039.59
Subscriptions	5,700,000	7,385,929
Subscriptions (in units)	46,891.73	60,627.10
Redemptions	-83,982,983	-74,771,511
Redemptions (in units)	-682,982.75	-633,027.60
Net income (loss)	12,986,164	-13,404,515
Members' capital	77,340,803	142,637,622
Members' capital (in units)	605,548.07	1,241,639.09
Class 2 Units [Member]	'	'
Increase (Decrease) in Partners' Capital [Roll Forward]	'	'
Members' capital	25,234,372	40,501,399
Members' capital (in units)	279,471.81	410,047.43
Subscriptions	764,382	3,078,540
Subscriptions (in units)	8,179.48	31,890.49
Redemptions	-6,345,812	-15,391,230
Redemptions (in units)	-67,099.25	-162,466.11
Net income (loss)	2,051,388	-2,954,337
Members' capital	$21,704,330	$25,234,372
Members' capital (in units)	220,552.04	279,471.81

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows provided by operating activities	'	'
Net income (loss)	$15,037,552	($16,358,852)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Net cash provided by operating activities	95,142,476	73,363,939
Cash flows used in financing activities	'	'
Subscriptions	6,464,382	10,464,469
Redemptions	-101,606,858	-83,828,408
Net cash used in financing activities	-95,142,476	-73,363,939
Net change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of year	0	0
Cash and cash equivalents, end of year	0	0
Graham Alternative Investment Trading LLC [Member]	'	'
Cash flows provided by operating activities	'	'
Net income (loss)	-15,037,552	16,358,852
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'	'
Proceeds from sale of investments in Graham Alternative Investment Trading LLC	101,606,858	83,828,408
Investments in Graham Alternative Investment Trading LLC	($6,464,382)	($10,464,469)

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2013
Organization and Business [Abstract]	'
Organization and Business	'
	1. Organization and Business
	The Blended Strategies Portfolio (the “Fund”) is a series of Graham Alternative Investment Fund I LLC (“GAIF I”), a Delaware Series Limited Liability Company established through an amendment to the certificate of formation, effective March 28, 2013. GAIF I has two other series in addition to the Fund, Systematic Strategies Portfolio and Discretionary Strategies Portfolio. Prior to March 28, 2013, GAIF I was organized as a Delaware Limited Liability Company which was formed on May 16, 2006 and commenced operations on August 1, 2006. Comparative information contained within these financial statements for periods prior to March 28, 2013 represent the data pertaining solely to the Blended Strategies Portfolio. GAIF I is registered as a commodity pool with the U.S. Commodity Futures Trading Commission.
	As a Series Limited Liability Company each series is legally segregated, and the assets associated with each series are held separately and accounted for in separate and distinct records from the assets of any other series of GAIF I. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular series are enforceable against the assets of such series only, and not against the assets of GAIF I generally or any other series thereof. Further, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to GAIF I are enforceable against the assets of any other series.
	The Fund offers investors Class 0 and Class 2 shares. The Fund invests all of its assets dedicated to trading in Graham Alternative Investment Trading LLC (“GAIT”), a Delaware LLC which was formed on May 18, 2006 and commenced operations on August 1, 2006. GAIT invests in various master trading vehicles (“Master Funds”), all of which are managed by Graham Capital Management, L.P. (the “Advisor” or “Manager”). The Manager is the manager and the sole investment advisor of GAIT and the Fund. The Manager is registered as a Commodity Pool Operator and Commodity Trading Advisor with the U.S. Commodity Futures Trading Commission and is a member of the National Futures Association. The Manager is also registered as a Registered Investment Advisor with the Securities and Exchange Commission. The Fund’s Units are registered under the Securities Exchange Act of 1934.
	The investment objective of the Fund is to achieve long-term capital appreciation through professionally managed trading in both U.S. and foreign markets primarily in futures contracts, forwards contracts, spot currency contracts, and associated derivative instruments, such as options and swaps, through its investment in GAIT, which in turn invests in various Master Funds. The Master Funds seek to profit from opportunities in the global financial markets, including interest rate futures, foreign exchange, global stock indices and energy, metals and agricultural futures, as professionally managed multi-strategy investment vehicles. Each of the investment programs consists of multiple trading strategies of the Manager, which the Manager has combined in an effort to diversify the Fund’s investment exposure and to make the Fund’s performance returns less volatile and more consistently profitable.
	SEI Global Services, Inc. (“SEI”) is the Fund’s independent administrator and transfer agent. SEI is responsible for certain matters pertaining to the administration of the Fund.
	The Fund will terminate on December 31, 2050 or at an earlier date if certain conditions occur as outlined in the Limited Liability Company Agreement (“LLC Agreement”).
	The performance of the Fund is directly affected by the performance of GAIT; therefore these financial statements should be read in conjunction with the attached financial statements of GAIT.
	Duties of the Manager
	Subject to the terms and conditions of the LLC Agreement, the Manager has complete and exclusive responsibility for managing and administering the affairs of the Fund and for directing the investment and reinvestment of the assets of the Fund and GAIT.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2. Summary of Significant Accounting Policies
	These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and all amounts are stated in U.S. dollars. The preparation of these financial statements requires the Manager to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Investment in Graham Alternative Investment Trading LLC
	The Fund records its investment in GAIT at fair value based upon the Fund’s proportionate share of GAIT’s reported net asset value in accordance with U.S. GAAP. In determining its net asset value, GAIT records its investments in Master Funds at fair value based upon GAIT’s proportionate share of the Master Funds’ reported net asset value. The Fund records its proportionate share of GAIT’s investment income and loss, expenses, fees, and realized and unrealized gains and losses on a monthly basis and includes them in the statements of operations. Purchases and sales of units in GAIT are recorded on a trade date basis. The accounting policies of GAIT are described in its attached financial statements.
	GAIT charges its investors, including the Fund, an advisory fee, administrator’s fee, brokerage fee (for 2012 periods only), sponsor fee and incentive allocation, all of which are described in detail in Note 4. The Fund does not charge any additional fees; however each investor in the Fund indirectly bears a portion of the advisory fee, brokerage fee, sponsor fee, administrator’s fee, and incentive allocation charged by GAIT.
	At December 31, 2013 and December 31, 2012, the Fund owned 54.85% and 63.27%, respectively of GAIT.
	Fair Value
	The fair value of the assets and liabilities of the Fund and GAIT, which qualify as financial instruments under U.S. GAAP, approximates the carrying amounts presented in the statements of financial condition. Changes in these carrying amounts are included in the statements of operations.
	The Fund follows U.S. GAAP for fair value measurements, which defines fair value, establishes a framework for measuring fair value, and requires certain disclosures about fair value measurements. The Fund reports the fair value of its investment related assets and liabilities in accordance with the hierarchy established under U.S. GAAP. U.S. GAAP uses a three-level hierarchy for fair value measurement based on the activeness of the market and the transparency and independence of inputs used in the valuation of an asset or liability as of the measurement date.
	The fair value hierarchy categorizes asset and liability positions into one of three levels, as summarized below, based on the inputs and assumptions used in deriving fair value.
		·	Level 1 inputs are unadjusted closing or settlement prices for such assets or liabilities as published by the primary exchange upon which they are traded.
		·	Level 2 inputs include quoted prices for similar assets and liabilities obtained from independent brokers and/or market makers in each security. With respect to the Fund’s investment in GAIT, Level 2 inputs include the net asset value of the underlying fund in which it holds an investment.
		·	Level 3 inputs are those which are considered unobservable and are significant in arriving at fair value.
	In accordance with this hierarchy, the Fund’s investment in GAIT has been classified as a Level 2 valuation. There were no Level 3 assets or liabilities held at any point during the years ended December 31, 2013 or 2012 by the Fund, GAIT, or the Master Funds, and there were no transfers between levels during those periods. Transfers between levels, if any, are recognized on the actual date of the event or change in circumstances that cause the transfer.
	Recent Accounting Pronouncements
	In June 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-08, Financial Services – Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements (“ASU 2013-08”). The amendments in ASU 2013-08 change the approach in determining whether an entity is an investment company and provides comprehensive implementation guidance for that assessment. Under ASU 2013-08, entities regulated under the Investment Company Act of 1940 will automatically qualify as investment companies while unregistered entities are required to have certain fundamental characteristics and should consider other typical characteristics to qualify as an investment company. ASU 2013-08 also includes certain disclosure requirements for investment companies. The guidance is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2013. The Manager is currently assessing the impact that this pronouncement will have on the financial statements.
	Indemnifications
	In the normal course of business, the Master Funds, GAIT, Graham Cash Assets LLC (“Cash Assets”), and the Fund enter into contracts that contain a variety of indemnifications. Such contracts may include those by Cash Assets and the Master Funds with their brokers and trading counterparties. The Fund’s maximum exposure under these arrangements is unknown; however, the Fund has not had prior claims or losses with respect to such indemnifications and considers the risk of loss to be remote.

Capital_Accounts

Capital Accounts	12 Months Ended
	Dec. 31, 2013
Capital Accounts [Abstract]	'
Capital Accounts	'
	3. Capital Accounts
	The Fund offers two classes (each a “Class”) of Units (collectively the “Units”), being Class 0 Units and Class 2 Units. The Fund may issue additional Classes in the future subject to different fees, expenses or other terms, or to invest in other investment programs or combinations of investment programs managed by the Manager.
	A separate Capital Account is maintained for each Member with respect to each member’s Class of Units. The initial balance of each Member’s Capital Account is equal to the initial contribution to the Fund by such Member with respect to the Class to which such Capital Account relates. Each Member’s Capital Account is increased by any additional subscription, and decreased by any redemption by such Member of Units of such Class to which the Capital Account relates. All income and expenses of the Fund are allocated among the Members’ Capital Accounts in proportion to the balance that each Capital Account bears to the balance of all Capital as of the beginning of such fiscal period.
	Subscriptions
	Units may be purchased at a price equal to the Net Asset Value per Unit of the relevant Class as of the immediately preceding Valuation Day as defined in the LLC Agreement. The minimum initial subscription from each investor in each Class is $50,000. Members may subscribe for additional Units in a minimum amount of not less than $5,000.
	Units are available for subscription as of the first business day of each month upon written notice of at least three business days prior to the last business day of the preceding month.
	Redemption of Units
	Units are not subject to any minimum holding period. Members may redeem Units at the Net Asset Value thereof as of each Valuation Day, as defined in the LLC Agreement, upon not less than three business days’ prior written notice to the administrator. A partial redemption request for an amount less than $10,000 will not be accepted, nor will a redemption request be accepted to the extent that it would result in an investor owning less than $25,000. The redemption proceeds will normally be remitted within 15 days after the Valuation Day, without interest for the period from the Valuation Day to the payment date.
	Redemption Fees
	Class 2 Units are subject to a redemption fee equal to 2% of their Net Asset Value if redeemed within six months from their subscription date and a redemption fee equal to 1% of their Net Asset Value if redeemed more than six and less than twelve months from their subscription date. Class 0 Units are not subject to a redemption fee. Redemption fees are payable to the Manager upon redemption of Units from the proceeds of such redemption. Redemption fees of $4,244 and $6,643 were paid to the Manager for the years ended December 31, 2013 and 2012, respectively, and are included as redemptions in the statements of changes in members’ capital.

Fees_and_Related_Party_Transac

Fees and Related Party Transactions	12 Months Ended
	Dec. 31, 2013
Fees and Related Party Transactions [Abstract]	'
Fees and Related Party Transactions	'
	4. Fees and Related Party Transactions
	Advisory Fees
	For the years ended December 31, 2013 and 2012, each Class of GAIT other than Class M paid the Manager an advisory fee (the “Advisory Fee”) at an aggregate annual rate equal to 1.75% and 2% respectively, of the Net Asset Value of such Class. The Advisory Fee is payable monthly in arrears calculated as of the last business day of each month and any other date the Manager may permit, in its sole and absolute discretion, as of which any subscription or redemption is effected with respect to Units of such Class during the month.
	Sponsor Fees
	Each Class of GAIT other than Class M paid the Manager a sponsor fee (the “Sponsor Fee”) at an annual rate of the Net Asset Value specified in the table below. This Sponsor Fee was payable monthly in arrears calculated as of the last business day of each month in the same manner as the Advisory Fee. For the three months ended March 31, 2013, the Sponsor Fee listed below for Class 2 reflects as well a selling agent fee (the “Selling Agent Fee”) of 2%. The Selling Agent Fee compensates selling agents for initial and on-going services to the Fund.
	Class	2013 Annual Rate	2012 Annual Rate
	Class 0	0.75%	1.00%
	Class 2	2.75%	1.00%
	Incentive Allocation
	At the end of each calendar quarter, the Manager of GAIT will receive a special allocation of net profits (the “Incentive Allocation”) in an amount equal to 20% of the New High Net Trading Profits of each Class of GAIT, as defined in the LLC Agreement. The Incentive Allocation is also accrued and allocable on the date of redemption with respect to any Units that are redeemed prior to the end of a calendar quarter. Additionally, any loss carryforward attributable to any class of GAIT shall be proportionately reduced, effective as of the date of any redemption of any Units of such class, by multiplying the loss carryforward by the ratio that the amount of assets redeemed from such class bears to the net assets of such class immediately prior to such redemption. The loss carryforward of a class must be recouped before any subsequent Incentive Allocation can be made to the Manager.
	Brokerage Fees
	For the year ended December 31, 2012, each Class of GAIT other than Class M paid the Manager a brokerage fee (the “Brokerage Fee”) at an annual rate of the Net Asset Value specified in the table below. This Brokerage Fee was payable monthly in arrears calculated as of the last business day of each month in the same manner as the Advisory Fee.
	Class	Annual Rate
	Class 0	2%
	Class 2	4%
	In consideration of the Brokerage Fee, the Manager assumed all of GAIT’s trading commissions (including exchange, clearing and regulatory fees relating to its trades), routine legal expenses, internal and external accounting, audit and tax preparation expenses, fees and expenses of an external or internal administrator, and expenses and costs of printing and mailing reports and notices, together with the costs incurred in connection with the organization of GAIT and the Fund and the continuous offering of Units. To the extent GAIT was allocated any of these expenses from the Master Funds in which they invested, the Manager reimbursed GAIT for those amounts. These reimbursements are included in commission reimbursements in GAIT’s statements of operations. As a result, there is no impact to the Fund’s statement of operations.
	As of January 1, 2013 the Manager eliminated the Brokerage Fee and GAIT began to absorb directly all costs previously covered by the Brokerage Fee. These costs are included in professional fees and other in the statement of operations.
	Administrator’s Fee
	For the year ended December 31, 2013, GAIT paid SEI a monthly administrator’s fee based on GAIT’s net asset value, calculated as of the last business day of each month. In addition, GAIT reimbursed SEI for reasonable out-of-pocket expenses incurred on behalf of GAIT. The total administrator’s fees, including out-of-pocket expenses, allocated to the Fund by GAIT for the year ended December 31, 2013 were $168,689. For the year ended December 31, 2012 the administrator’s fee was absorbed by the Manager in exchange for the Brokerage Fee.
	Any portion of any of the above fees, including the Incentive Allocation, may be paid by the Manager to third parties as compensation for selling activities in connection with the Fund.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Taxes [Abstract]	'
Income Taxes	'
	5. Income Taxes
	No provision for income taxes has been made in the accompanying financial statements, as members are individually responsible for reporting income or loss based upon their respective share of the Fund’s revenues and expenses for income tax purposes.
	U.S. GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. U.S. GAAP requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Fund’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet a more-likely-than-not threshold would be recorded as a tax expense in the current year. The Manager has evaluated the Fund’s tax positions and has concluded that there are no significant tax positions requiring recognition, measurement or disclosure in the financial statements. The Manager is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax expense will change materially in the next twelve months. Tax years which are considered open by the relevant jurisdiction are subject to potential examination.

Financial_Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2013
Financial Highlights [Abstract]	'
Financial Highlights	'
	6. Financial Highlights
	The following is the per Unit operating performance calculation for the years ended December 31, 2013 and 2012:
		Class 0			Class 2
	Per unit operating performance
	Net asset value per unit, December 31, 2011	$	123.17		$	98.77
	Net loss:
	Net investment loss		(4.88	)		(5.84	)
	Net loss on investments		(3.41	)		(2.64	)
	Net loss		(8.29	)		(8.48	)
	Net asset value per unit, December 31, 2012	$	114.88		$	90.29
	Net income:
	Net investment loss		(3.39	)		(4.48	)
	Net gain on investments		16.23			12.6
	Net income		12.84			8.12
	Net asset value per unit, December 31, 2013	$	127.72		$	98.41
	The following represents ratios to average members’ capital and total return for the years ended December 31, 2013 and 2012:
		Class 0						Class 2
		2013			2012			2013			2012
	Total return before Incentive Allocation		11.18	%		(6.73	)%		8.99	%		(8.59	)%
	Incentive Allocation		0			0			0			0
	Total return after Incentive Allocation		11.18	%		(6.73	)%		8.99	%		(8.59	)%
	Net investment loss before Incentive Allocation		(2.81	)%		(3.96	)%		(4.76	)%		(5.91	)%
	Incentive Allocation		0			0			0			0
	Net investment loss after Incentive Allocation		(2.81	)%		(3.96	)%		(4.76	)%		(5.91	)%
	Total expenses before Incentive Allocation		3.02	%		5.13	%		4.96	%		7.18	%
	Incentive Allocation		0			0			0			0
	Total expenses after Incentive Allocation		3.02	%		5.13	%		4.96	%		7.18	%
	Total return is calculated for Class 0 and Class 2 Units taken as a whole. Total return is calculated as the change in total members’ capital adjusted for subscriptions or redemptions during the year. An individual member’s return may vary from these returns based on the timing of capital transactions and the applicability of Advisory Fees, Brokerage Fees (for 2012 only), Sponsor Fees, Administrator’s Fees, and the Incentive Allocation. The net investment loss and total expense ratios (including Incentive Allocation) are calculated for Class 0 and Class 2 Units taken as a whole and include net amounts allocated from GAIT. The computation of such ratios is based on the amount of net investment loss, expenses and Incentive Allocation. Net investment loss and total expense ratios are computed based upon the weighted average of members’ capital for Class 0 and Class 2 Units of the Fund for the years ended December 31, 2013 and 2012.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	7. Subsequent Events
	The Fund had subscriptions of approximately $2.7 million and redemptions of approximately $1.3 million from January 1, 2014 through March 28, 2014, the date through which subsequent events were evaluated by management. These amounts have not been included in the financial statements.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]	'
Basis of Accounting	'
	These financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and all amounts are stated in U.S. dollars.
Use of Estimates	'
	The preparation of these financial statements requires the Manager to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Investment in Graham Alternative Investment Trading LLC	'
	Investment in Graham Alternative Investment Trading LLC
	The Fund records its investment in GAIT at fair value based upon the Fund’s proportionate share of GAIT’s reported net asset value in accordance with U.S. GAAP. In determining its net asset value, GAIT records its investments in Master Funds at fair value based upon GAIT’s proportionate share of the Master Funds’ reported net asset value. The Fund records its proportionate share of GAIT’s investment income and loss, expenses, fees, and realized and unrealized gains and losses on a monthly basis and includes them in the statements of operations. Purchases and sales of units in GAIT are recorded on a trade date basis. The accounting policies of GAIT are described in its attached financial statements.
	GAIT charges its investors, including the Fund, an advisory fee, administrator’s fee, brokerage fee (for 2012 periods only), sponsor fee and incentive allocation, all of which are described in detail in Note 4. The Fund does not charge any additional fees; however each investor in the Fund indirectly bears a portion of the advisory fee, brokerage fee, sponsor fee, administrator’s fee, and incentive allocation charged by GAIT.
	At December 31, 2013 and December 31, 2012, the Fund owned 54.85% and 63.27%, respectively of GAIT.
Fair Value	'
	Fair Value
	The fair value of the assets and liabilities of the Fund and GAIT, which qualify as financial instruments under U.S. GAAP, approximates the carrying amounts presented in the statements of financial condition. Changes in these carrying amounts are included in the statements of operations.
	The Fund follows U.S. GAAP for fair value measurements, which defines fair value, establishes a framework for measuring fair value, and requires certain disclosures about fair value measurements. The Fund reports the fair value of its investment related assets and liabilities in accordance with the hierarchy established under U.S. GAAP. U.S. GAAP uses a three-level hierarchy for fair value measurement based on the activeness of the market and the transparency and independence of inputs used in the valuation of an asset or liability as of the measurement date.
	The fair value hierarchy categorizes asset and liability positions into one of three levels, as summarized below, based on the inputs and assumptions used in deriving fair value.
		·	Level 1 inputs are unadjusted closing or settlement prices for such assets or liabilities as published by the primary exchange upon which they are traded.
		·	Level 2 inputs include quoted prices for similar assets and liabilities obtained from independent brokers and/or market makers in each security. With respect to the Fund’s investment in GAIT, Level 2 inputs include the net asset value of the underlying fund in which it holds an investment.
		·	Level 3 inputs are those which are considered unobservable and are significant in arriving at fair value.
	In accordance with this hierarchy, the Fund’s investment in GAIT has been classified as a Level 2 valuation. There were no Level 3 assets or liabilities held at any point during the years ended December 31, 2013 or 2012 by the Fund, GAIT, or the Master Funds, and there were no transfers between levels during those periods. Transfers between levels, if any, are recognized on the actual date of the event or change in circumstances that cause the transfer.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In June 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-08, Financial Services – Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements (“ASU 2013-08”). The amendments in ASU 2013-08 change the approach in determining whether an entity is an investment company and provides comprehensive implementation guidance for that assessment. Under ASU 2013-08, entities regulated under the Investment Company Act of 1940 will automatically qualify as investment companies while unregistered entities are required to have certain fundamental characteristics and should consider other typical characteristics to qualify as an investment company. ASU 2013-08 also includes certain disclosure requirements for investment companies. The guidance is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2013. The Manager is currently assessing the impact that this pronouncement will have on the financial statements.
Indemnifications	'
	Indemnifications
	In the normal course of business, the Master Funds, GAIT, Graham Cash Assets LLC (“Cash Assets”), and the Fund enter into contracts that contain a variety of indemnifications. Such contracts may include those by Cash Assets and the Master Funds with their brokers and trading counterparties. The Fund’s maximum exposure under these arrangements is unknown; however, the Fund has not had prior claims or losses with respect to such indemnifications and considers the risk of loss to be remote.

Fees_and_Related_Party_Transac1

Fees and Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2013
Fees and Related Party Transactions [Abstract]	'
Sponsor Fees	'
	Each Class of GAIT other than Class M paid the Manager a sponsor fee (the “Sponsor Fee”) at an annual rate of the Net Asset Value specified in the table below. This Sponsor Fee was payable monthly in arrears calculated as of the last business day of each month in the same manner as the Advisory Fee. For the three months ended March 31, 2013, the Sponsor Fee listed below for Class 2 reflects as well a selling agent fee (the “Selling Agent Fee”) of 2%. The Selling Agent Fee compensates selling agents for initial and on-going services to the Fund.
	Class	2013 Annual Rate	2012 Annual Rate
	Class 0	0.75%	1.00%
	Class 2	2.75%	1.00%
Brokerage Fees	'
	For the year ended December 31, 2012, each Class of GAIT other than Class M paid the Manager a brokerage fee (the “Brokerage Fee”) at an annual rate of the Net Asset Value specified in the table below. This Brokerage Fee was payable monthly in arrears calculated as of the last business day of each month in the same manner as the Advisory Fee.
	Class	Annual Rate
	Class 0	2%
	Class 2	4%

Financial_Highlights_Tables

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2013
Financial Highlights [Abstract]	'
Unit Operating Performance	'
	The following is the per Unit operating performance calculation for the years ended December 31, 2013 and 2012:
		Class 0			Class 2
	Per unit operating performance
	Net asset value per unit, December 31, 2011	$	123.17		$	98.77
	Net loss:
	Net investment loss		(4.88	)		(5.84	)
	Net loss on investments		(3.41	)		(2.64	)
	Net loss		(8.29	)		(8.48	)
	Net asset value per unit, December 31, 2012	$	114.88		$	90.29
	Net income:
	Net investment loss		(3.39	)		(4.48	)
	Net gain on investments		16.23			12.6
	Net income		12.84			8.12
	Net asset value per unit, December 31, 2013	$	127.72		$	98.41
Ratios to Average Members' Capital and Total Return	'
	The following represents ratios to average members’ capital and total return for the years ended December 31, 2013 and 2012:
		Class 0						Class 2
		2013			2012			2013			2012
	Total return before Incentive Allocation		11.18	%		(6.73	)%		8.99	%		(8.59	)%
	Incentive Allocation		0			0			0			0
	Total return after Incentive Allocation		11.18	%		(6.73	)%		8.99	%		(8.59	)%
	Net investment loss before Incentive Allocation		(2.81	)%		(3.96	)%		(4.76	)%		(5.91	)%
	Incentive Allocation		0			0			0			0
	Net investment loss after Incentive Allocation		(2.81	)%		(3.96	)%		(4.76	)%		(5.91	)%
	Total expenses before Incentive Allocation		3.02	%		5.13	%		4.96	%		7.18	%
	Incentive Allocation		0			0			0			0
	Total expenses after Incentive Allocation		3.02	%		5.13	%		4.96	%		7.18	%

Organization_and_Business_Deta

Organization and Business (Details)	12 Months Ended
	Dec. 31, 2013
	Investment
Organization and Business [Abstract]	'
Other series owned by entity	2

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (Graham Alternative Investment Fund LLC [Member])	Dec. 31, 2013	Dec. 31, 2012
Graham Alternative Investment Fund LLC [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Ownership percentage (in hundredths)	54.85%	63.27%

Capital_Accounts_Details

Capital Accounts (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
	Class
Capital Accounts [Abstract]	'	'
Number of classes of units offered by Fund	2	'
Minimum initial subscription amount	$50,000	'
Minimum cost for additional units	5,000	'
Minimum notice period for units subscription	'3 days	'
Minimum notice period for units redemption	'3 days	'
Minimum amount for partial redemption request	10,000	'
Minimum holding post partial redemption	25,000	'
Period of remittance for redemption proceeds	'15 days	'
Capital unit redemptions [Line Items]	'	'
Redemption and conversion policies	'Class 2 Units are subject to a redemption fee equal to 2% of their Net Asset Value if redeemed within six months from their subscription date and a redemption fee equal to 1% of their Net Asset Value if redeemed more than six and less than twelve months from their subscription date. Class 0 Units are not subject to a redemption fee.	'
Fees paid to manager for redemptions	$4,244	$6,643
Class 2 Units [Member]	'	'
Capital unit redemptions [Line Items]	'	'
Maximum applicable redemption fee - holding period, description	'within six months from their subscription date	'
Minimum applicable redemption fee - holding period, description	'more than six and less than twelve months from their subscription date	'
Class 2 Units [Member] | Minimum [Member]	'	'
Capital unit redemptions [Line Items]	'	'
Redemption fee (in hundredths)	1.00%	'
Class 2 Units [Member] | Maximum [Member]	'	'
Capital unit redemptions [Line Items]	'	'
Redemption fee (in hundredths)	2.00%	'

Fees_and_Related_Party_Transac2

Fees and Related Party Transactions (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Fees and Related Party Transactions [Abstract]	'	'
Advisory fees at annual rate of net assets value of fund (in hundredths)	1.75%	2.00%
Percentage of incentive allocation (in hundredths)	20.00%	'
Sponsor Fees [Abstract]	'	'
Sponsor fees at annual rate of net assets value of fund (in hundredths)	2.00%	'
Administrative fees [Abstract]	'	'
Administrator's fees allocated to the Fund	$168,689	$0
Class 0 Units [Member]	'	'
Sponsor Fees [Abstract]	'	'
Sponsor fees at annual rate of net assets value of fund (in hundredths)	0.75%	1.00%
Brokerage fees [Abstract]	'	'
Brokerage fees at annual rate (in hundredths)	'	2.00%
Class 2 Units [Member]	'	'
Sponsor Fees [Abstract]	'	'
Sponsor fees at annual rate of net assets value of fund (in hundredths)	2.75%	1.00%
Brokerage fees [Abstract]	'	'
Brokerage fees at annual rate (in hundredths)	'	4.00%

Income_Taxes_Details

Income Taxes (Details)	12 Months Ended
	Dec. 31, 2013
Income Taxes [Abstract]	'
Change in amount of unrecognized tax expense due to unaware tax positions, period	'12 months

Financial_Highlights_Details

Financial Highlights (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Class 0 Units [Member]	'	'
Net asset value per unit [Abstract]	'	'
Net asset value per unit, beginning of period (in dollars per unit)	$114.88	$123.17
Net income (loss) [Abstract]	'	'
Net investment loss (in dollars per unit)	($3.39)	($4.88)
Net gain (loss) on investments (in dollars per unit)	$16.23	($3.41)
Net income (loss) (in dollars per unit)	$12.84	($8.29)
Net asset value per unit, end of period (in dollars per unit)	$127.72	$114.88
Ratios to average members capital and total return [Abstract]	'	'
Total return before Incentive Allocation (in hundredths)	11.18%	-6.73%
Incentive Allocation (in hundredths)	0.00%	0.00%
Total return after Incentive Allocation (in hundredths)	11.18%	-6.73%
Net investment loss before Incentive Allocation (in hundredths)	-2.81%	-3.96%
Incentive Allocation (in hundredths)	0.00%	0.00%
Net investment loss after Incentive Allocation (in hundredths)	-2.81%	-3.96%
Total expenses before Incentive Allocation (in hundredths)	3.02%	5.13%
Incentive Allocation (in hundredths)	0.00%	0.00%
Total expenses after Incentive Allocation (in hundredths)	3.02%	5.13%
Class 2 Units [Member]	'	'
Net asset value per unit [Abstract]	'	'
Net asset value per unit, beginning of period (in dollars per unit)	$90.29	$98.77
Net income (loss) [Abstract]	'	'
Net investment loss (in dollars per unit)	($4.48)	($5.84)
Net gain (loss) on investments (in dollars per unit)	$12.60	($2.64)
Net income (loss) (in dollars per unit)	$8.12	($8.48)
Net asset value per unit, end of period (in dollars per unit)	$98.41	$90.29
Ratios to average members capital and total return [Abstract]	'	'
Total return before Incentive Allocation (in hundredths)	8.99%	-8.59%
Incentive Allocation (in hundredths)	0.00%	0.00%
Total return after Incentive Allocation (in hundredths)	8.99%	-8.59%
Net investment loss before Incentive Allocation (in hundredths)	-4.76%	-5.91%
Incentive Allocation (in hundredths)	0.00%	0.00%
Net investment loss after Incentive Allocation (in hundredths)	-4.76%	-5.91%
Total expenses before Incentive Allocation (in hundredths)	4.96%	7.18%
Incentive Allocation (in hundredths)	0.00%	0.00%
Total expenses after Incentive Allocation (in hundredths)	4.96%	7.18%

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 28, 2014
Subsequent Event [Member]	'
Subsequent event [Line Items]	'
Fund subscriptions	$2.70
Fund redemptions	$1.30