Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 13, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-54028 | |
Entity Registrant Name | MILLBURN MULTI-MARKETS FUND L.P. | |
Entity Central Index Key | 0001468910 | |
Entity Tax Identification Number | 26-4038497 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | c/o MILLBURN RIDGEFIELD CORPORATION | |
Entity Address, Address Line Two | 55 West 46th Street | |
Entity Address, Address Line Three | 31st Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10036 | |
City Area Code | (212) | |
Local Phone Number | 332-7300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 0 |
Statements of Financial Conditi
Statements of Financial Condition (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Assets [Abstract] | ||
Investment in Millburn Multi-Markets Trading L.P. (the “Master Fund”) | $ 126,177,269 | $ 139,012,777 |
Due from the Master Fund | 505,754 | 2,272,143 |
Cash and cash equivalents | 10,750 | |
Total assets | 126,693,773 | 141,284,920 |
LIABILITIES: | ||
Capital withdrawals payable to Limited Partners | 516,504 | 2,272,143 |
Total liabilities | 516,504 | 2,272,143 |
PARTNERS’ CAPITAL: | ||
General Partner | 2,958,462 | 2,803,226 |
Total limited partners | 123,218,807 | 136,209,551 |
Total partners’ capital | 126,177,269 | 139,012,777 |
TOTAL | 126,693,773 | 141,284,920 |
Series A [Member] | ||
PARTNERS’ CAPITAL: | ||
Limited partners: | $ 104,028,389 | $ 108,544,835 |
NET ASSET VALUE PER UNIT OUTSTANDING: | ||
Net Asset Value Per Unit Outstanding | $ 1,117.59 | $ 1,089.83 |
Series B [Member] | ||
PARTNERS’ CAPITAL: | ||
Limited partners: | $ 6,961,927 | $ 7,431,183 |
NET ASSET VALUE PER UNIT OUTSTANDING: | ||
Net Asset Value Per Unit Outstanding | $ 1,352.22 | $ 1,299.02 |
Series C [Member] | ||
PARTNERS’ CAPITAL: | ||
Limited partners: | $ 3,361,262 | $ 4,015,189 |
NET ASSET VALUE PER UNIT OUTSTANDING: | ||
Net Asset Value Per Unit Outstanding | $ 1,379.66 | $ 1,325.38 |
Series D [Member] | ||
PARTNERS’ CAPITAL: | ||
Limited partners: | $ 8,867,229 | $ 16,218,344 |
NET ASSET VALUE PER UNIT OUTSTANDING: | ||
Net Asset Value Per Unit Outstanding | $ 1,294.65 | $ 1,251.08 |
Statements of Financial Condi_2
Statements of Financial Condition (Unaudited) (Parenthetical) - shares | Sep. 30, 2021 | Dec. 31, 2020 |
Series A [Member] | ||
Auction Market Preferred Securities, Stock Series [Line Items] | ||
Limited Partners' Capital Account, Units Outstanding | 93,082.6417 | 99,597.6414 |
Series B [Member] | ||
Auction Market Preferred Securities, Stock Series [Line Items] | ||
Limited Partners' Capital Account, Units Outstanding | 5,148.5127 | 5,720.6069 |
Series C [Member] | ||
Auction Market Preferred Securities, Stock Series [Line Items] | ||
Limited Partners' Capital Account, Units Outstanding | 2,436.2995 | 3,029.4662 |
Series D [Member] | ||
Auction Market Preferred Securities, Stock Series [Line Items] | ||
Limited Partners' Capital Account, Units Outstanding | 6,849.1247 | 12,963.4335 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |||||
INVESTMENT INCOME: | ||||||||
Interest income | $ 3 | $ 1 | $ 5 | $ 5,930 | ||||
Investment Income, Interest | 3,441 | [1] | 224,644 | [1] | 36,771 | [2] | 1,392,430 | [2] |
INVESTMENT INCOME — Interest income | 3,444 | 224,645 | 36,776 | 1,398,360 | ||||
EXPENSES: | ||||||||
Management fees | 557,532 | [1] | 767,867 | [1] | 1,842,680 | [2] | 2,462,296 | [2] |
Brokerage commissions | 206,834 | [1] | 184,387 | [1] | 642,528 | [2] | 605,926 | [2] |
Selling commissions and platform fees | 551,956 | [1] | 654,093 | [1] | 1,711,058 | [2] | 2,132,257 | [2] |
Administrative and operating expenses | 132,226 | [1] | 117,935 | [1] | 395,103 | [2] | 428,301 | [2] |
Custody fees and other expenses | 5,520 | [1] | 7,258 | [1] | 17,212 | [2] | 22,051 | [2] |
Total expenses | 1,454,068 | 1,731,540 | 4,608,581 | 5,650,831 | ||||
NET INVESTMENT LOSS | (1,450,624) | (1,506,895) | (4,571,805) | (4,252,471) | ||||
Net realized gains (losses) on closed positions: | ||||||||
Futures and forward currency contracts | (9,899,533) | 5,183,119 | 15,448,092 | (29,969,802) | ||||
Foreign exchange transactions | (208,044) | 444,691 | (156,683) | 214,124 | ||||
Net change in unrealized: | ||||||||
Futures and forward currency contracts | 2,176,108 | 1,701,388 | (5,875,439) | 3,078,876 | ||||
Foreign exchange translation | (18,948) | (6,377) | (284,401) | (78,656) | ||||
Realized | (693) | 4,818 | (5,511) | 207,165 | ||||
Net change in unrealized | (2,317) | (182,589) | 2,570 | (75,751) | ||||
Net realized and unrealized gains (losses) allocated from the Master Fund | (7,953,427) | 7,145,050 | 9,128,628 | (26,624,044) | ||||
NET INCOME (LOSS) | (9,404,051) | 5,638,155 | 4,556,823 | (30,876,515) | ||||
LESS PROFIT SHARE TO GENERAL PARTNER | (56,511) | 42,925 | ||||||
NET INCOME (LOSS) AFTER PROFIT SHARE TO GENERAL PARTNER | (9,347,540) | 5,638,155 | 4,513,898 | (30,876,515) | ||||
Millburn Multi Markets Trading L P [Member] | ||||||||
INVESTMENT INCOME: | ||||||||
INVESTMENT INCOME — Interest income | 12,335 | 953,944 | 129,346 | 5,780,865 | ||||
EXPENSES: | ||||||||
Management fees | 1,361,413 | 2,199,572 | 4,443,144 | 6,977,202 | ||||
Brokerage commissions | 745,481 | 786,171 | 2,308,560 | 2,512,532 | ||||
Selling commissions and platform fees | 552,346 | 660,975 | 1,721,577 | 2,149,586 | ||||
Administrative and operating expenses | 282,067 | 293,017 | 851,185 | 937,709 | ||||
Custody fees and other expenses | 19,972 | 31,152 | 63,634 | 94,547 | ||||
Total expenses | 2,961,279 | 3,970,887 | 9,388,100 | 12,671,576 | ||||
NET INVESTMENT LOSS | (2,948,944) | (3,016,943) | (9,258,754) | (6,890,711) | ||||
Net realized gains (losses) on closed positions: | ||||||||
Futures and forward currency contracts | (37,111,149) | 26,629,664 | 58,210,855 | (122,763,161) | ||||
Foreign exchange transactions | (738,406) | 1,834,663 | (561,788) | 926,261 | ||||
Net change in unrealized: | ||||||||
Futures and forward currency contracts | 8,267,530 | 5,221,855 | (23,507,921) | 9,086,227 | ||||
Foreign exchange translation | (78,761) | 23,731 | (1,029,249) | (315,956) | ||||
Realized | 2,502 | (20,841) | (20,386) | 875,124 | ||||
Net change in unrealized | (8,359) | (776,203) | 24,717 | (255,616) | ||||
Total net realized and unrealized gains (losses) | (29,671,647) | 32,954,551 | 33,116,228 | (112,447,121) | ||||
NET INCOME (LOSS) | (32,620,591) | 29,937,608 | 23,857,474 | (119,337,832) | ||||
LESS PROFIT SHARE TO GENERAL PARTNER | (914,181) | 72,899 | 602,156 | 105,482 | ||||
NET INCOME (LOSS) AFTER PROFIT SHARE TO GENERAL PARTNER | $ 31,706,410 | $ (29,864,709) | $ 23,255,318 | $ (119,443,314) | ||||
Series A [Member] | ||||||||
Net change in unrealized: | ||||||||
NET INCOME PER UNIT OUTSTANDING | $ (84.51) | $ 37.04 | $ 27.76 | $ (196.42) | ||||
Series B [Member] | ||||||||
Net change in unrealized: | ||||||||
NET INCOME PER UNIT OUTSTANDING | (95) | 50.01 | 53.20 | (210.70) | ||||
Series C [Member] | ||||||||
Net change in unrealized: | ||||||||
NET INCOME PER UNIT OUTSTANDING | (96.92) | 51.02 | 54.28 | (214.98) | ||||
Series D [Member] | ||||||||
Net change in unrealized: | ||||||||
NET INCOME PER UNIT OUTSTANDING | $ (85.66) | $ 46.06 | $ 43.57 | $ (211.33) | ||||
[1] | The Partnership’s proportionate share of income and expenses allocated from the Master Fund as of period end. | |||||||
[2] | The Partnership’s proportionate share of income and expenses allocated from the Master Fund as of period end. |
Statements of Changes in Partne
Statements of Changes in Partners' Capital (Unaudited) - USD ($) | General Partners [Member] | General Partners [Member]Millburn Multi Markets Trading L P [Member] | Limited Partners Series A [Member] | Limited Partners Series B [Member] | Limited Partners Series C [Member] | Limited Partners Series D [Member] | Total | Millburn Multi Markets Trading L P [Member] | Limited Partners [Member]Millburn Multi Markets Trading L P [Member] | New Profit Memo Account [Member]Millburn Multi Markets Trading L P [Member] |
PARTNERS’ CAPITAL - January 1, 2020 at Dec. 31, 2019 | $ 3,122,595 | $ 1,049,391 | $ 166,972,241 | $ 10,343,480 | $ 4,831,807 | $ 5,919,234 | $ 191,189,357 | $ 631,002,325 | $ 629,952,934 | |
Partners' Capital Account, Units, Beginning Balance at Dec. 31, 2019 | 132,149.4067 | 7,006.4813 | 3,207.8856 | 4,132.1394 | ||||||
Contributions | $ 2,257,400 | $ 150,000 | $ 150,000 | $ 11,859,000 | 14,416,400 | 268,999,600 | 268,999,600 | |||
Capital contributions, units | 1,790.7268 | 120.8101 | 106.9465 | 9,052.9189 | ||||||
Withdrawals | $ (28,285,064) | $ (968,765) | $ (11,039) | $ (156,156) | (29,421,024) | (139,372,170) | (139,372,170) | |||
Capital withdrawals, units | (26,775.7466) | (784.6188) | (8.9010) | (131.1191) | ||||||
Net (loss) before profit share | (405,180) | (134,556) | $ (26,590,600) | $ (1,497,600) | $ (701,977) | $ (1,681,158) | (30,876,515) | (119,337,832) | (119,203,276) | |
Profit share | ||||||||||
PARTNERS’ CAPITAL - September 30, 2020 at Sep. 30, 2020 | 2,717,415 | 914,835 | $ 114,353,977 | $ 8,027,115 | $ 4,268,791 | $ 15,940,920 | 145,308,218 | 641,186,441 | 640,271,606 | |
Partners' Capital Account, Units, Ending Balance at Sep. 30, 2020 | 107,164.3869 | 6,342.6726 | 3,305.9311 | 13,053.9392 | ||||||
Net Asset Value per Unit | $ 1,067.09 | $ 1,265.57 | $ 1,291.25 | $ 1,221.16 | ||||||
PARTNERS’ CAPITAL - January 1, 2020 at Dec. 31, 2020 | 2,803,226 | 944,315 | $ 108,544,835 | $ 7,431,183 | $ 4,015,189 | $ 16,218,344 | 139,012,777 | 554,247,918 | 553,303,603 | |
Partners' Capital Account, Units, Beginning Balance at Dec. 31, 2020 | 99,597.6414 | 5,720.6069 | 3,029.4662 | 12,963.4335 | ||||||
Contributions | $ 2,419,000 | $ 350,000 | $ 559,000 | 3,328,000 | 26,161,863 | 25,953,000 | 208,863 | |||
Capital contributions, units | 2,088.3473 | 244.6968 | 406.1506 | |||||||
Withdrawals | $ (9,804,033) | $ (772,055) | $ (1,184,514) | $ (8,916,804) | (20,677,406) | (174,174,748) | (174,174,748) | |||
Capital withdrawals, units | (8,603.3470) | (572.0942) | (837.8635) | (6,520.4594) | ||||||
Net (loss) before profit share | 155,236 | 54,219 | $ 2,868,587 | $ 302,799 | $ 180,587 | $ 1,049,614 | 4,556,823 | 23,857,474 | 23,815,842 | (12,587) |
Profit share | (42,925) | (42,925) | ||||||||
PARTNERS’ CAPITAL - September 30, 2020 at Sep. 30, 2021 | $ 2,958,462 | 998,534 | $ 104,028,389 | $ 6,961,927 | $ 3,361,262 | $ 8,867,229 | $ 126,177,269 | 429,490,351 | 428,295,541 | 196,276 |
Partners' Capital Account, Units, Ending Balance at Sep. 30, 2021 | 93,082.6417 | 5,148.5127 | 2,436.2995 | 6,849.1247 | ||||||
Net Asset Value per Unit | $ 1,117.59 | $ 1,352.22 | $ 1,379.66 | $ 1,294.65 | ||||||
General Partner’s allocation - profit share | $ (602,156) | $ (602,156) |
Statement of Financial Highligh
Statement of Financial Highlights (Unaudited) - $ / shares | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||||||
Limited Partner [Member] | Millburn Multi Markets Trading L P [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
Net investment loss (1) (2) (4) | [1],[2],[3] | $ (0.0248) | $ (0.0184) | $ (0.0253) | $ (0.0133) | ||||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | [1],[3] | 2.48% | 2.40% | 2.56% | 2.45% | ||||
Total expenses (1) | [3] | 2.29% | 2.41% | 2.68% | 2.47% | ||||
Total return before General Partner profit share allocation (3) | [4] | (6.71%) | 4.65% | 4.11% | (13.75%) | ||||
Less: General Partner profit share allocation (3) | [4] | (0.19%) | 0.01% | 0.12% | 0.02% | ||||
Total return after General Partner profit share allocation (3) | [4] | (6.52%) | 4.64% | 3.99% | (13.77%) | ||||
General Partner profit share allocation (3) | [4] | (0.19%) | 0.01% | 0.12% | 0.02% | ||||
Tracking Partner [Member] | Millburn Multi Markets Trading L P [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
Net investment loss (1) (2) (4) | [5],[6],[7] | $ (0.0252) | $ (0.0208) | $ (0.0258) | $ (0.0150) | ||||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | [5],[7] | 2.52% | 2.64% | 2.61% | 2.61% | ||||
Total expenses (1) | [7] | 2.52% | 2.64% | 2.61% | 2.61% | ||||
Total return before General Partner profit share allocation (3) | [8] | (6.50%) | 4.17% | 4.30% | (14.12%) | ||||
Less: General Partner profit share allocation (3) | [8],[9] | 0.00% | 0.00% | ||||||
Total return after General Partner profit share allocation (3) | [8] | (6.50%) | 4.17% | 4.30% | (14.12%) | ||||
General Partner profit share allocation (3) | [8],[9] | 0.00% | 0.00% | ||||||
Series A [Member] | Limited Partner [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
NET ASSET VALUE PER UNIT — Beginning of period | $ 1,202.10 | $ 1,030.05 | $ 1,089.83 | $ 1,263.51 | |||||
Net investment loss (1) (2) (4) | (13.91) | [10] | (11.07) | [11] | (41.71) | [12] | (30.13) | [13] | |
Total trading and investing losses (1) | (70.60) | [10] | 48.11 | [11] | 69.47 | [12] | (166.29) | [13] | |
Net loss before profit share allocation from the Master Fund | (84.51) | 37.04 | 27.76 | (196.42) | |||||
Less: profit share allocation from the Master Fund (1) (6) | 0 | [10],[14] | 0 | [11],[15] | 0 | [12],[16] | 0 | [13],[17] | |
Net loss from operations after profit share allocation from the Master Fund | (84.51) | 37.04 | 27.76 | (196.42) | |||||
NET ASSET VALUE PER UNIT — End of period | $ 1,117.59 | $ 1,067.09 | $ 1,117.59 | $ 1,067.09 | |||||
TOTAL RETURN BEFORE PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (7.03%) | [18] | 3.60% | [19] | 2.55% | [20] | (15.55%) | [21] | |
LESS: PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
TOTAL RETURN AFTER PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (7.03%) | 3.60% | [19] | 2.55% | [20] | (15.55%) | [21] | ||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | 4.81% | [22],[23],[24] | 4.80% | [25],[26],[27] | 4.87% | [28],[29],[30] | 4.85% | [31],[32],[33] | |
Profit share allocation from the Master Fund (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
Total expenses (1) | 4.81% | 4.80% | 4.87% | 4.85% | |||||
Net investment loss (3) (4) (5) | (4.80%) | [22],[23],[24] | (4.22%) | [25],[26],[27] | (4.83%) | [28],[29],[30] | (3.72%) | [31],[32],[33] | |
Series B [Member] | Limited Partner [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
NET ASSET VALUE PER UNIT — Beginning of period | $ 1,447.22 | $ 1,215.56 | $ 1,299.02 | $ 1,476.27 | |||||
Net investment loss (1) (2) (4) | (9.79) | [10] | (6.87) | [11] | (29.34) | [12] | (16.49) | [13] | |
Total trading and investing losses (1) | (85.21) | [10] | 56.88 | [11] | 82.54 | [12] | (194.21) | [13] | |
Net loss before profit share allocation from the Master Fund | (95) | 50.01 | 53.20 | (210.70) | |||||
Less: profit share allocation from the Master Fund (1) (6) | 0 | [10],[14] | 0 | [11],[15] | 0 | [12],[16] | 0 | [13],[17] | |
Net loss from operations after profit share allocation from the Master Fund | (95) | 50.01 | 53.20 | (210.70) | |||||
NET ASSET VALUE PER UNIT — End of period | $ 1,352.22 | $ 1,265.57 | $ 1,352.22 | $ 1,265.57 | |||||
TOTAL RETURN BEFORE PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.56%) | [18] | 4.11% | [19] | 4.10% | [20] | (14.27%) | [21] | |
LESS: PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
TOTAL RETURN AFTER PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.56%) | 4.11% | [19] | 4.10% | [20] | (14.27%) | [21] | ||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | 2.81% | [22],[23],[24] | 2.80% | [25],[26],[27] | 2.87% | [28],[29],[30] | 2.85% | [31],[32],[33] | |
Profit share allocation from the Master Fund (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
Total expenses (1) | 2.81% | 2.80% | 2.87% | 2.85% | |||||
Net investment loss (3) (4) (5) | (2.80%) | [22],[23],[24] | (2.22%) | [25],[26],[27] | (2.83%) | [28],[29],[30] | (1.73%) | [31],[32],[33] | |
Series C [Member] | Limited Partner [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
NET ASSET VALUE PER UNIT — Beginning of period | $ 1,476.58 | $ 1,240.23 | $ 1,325.38 | $ 1,506.23 | |||||
Net investment loss (1) (2) (4) | (9.97) | [10] | (7.15) | [11] | (29.93) | [12] | (16.99) | [13] | |
Total trading and investing losses (1) | (86.95) | [10] | 58.17 | [11] | 84.21 | [12] | (197.99) | [13] | |
Net loss before profit share allocation from the Master Fund | (96.92) | 51.02 | 54.28 | (214.98) | |||||
Less: profit share allocation from the Master Fund (1) (6) | 0 | [10],[14] | 0 | [11],[15] | 0 | [12],[16] | 0 | [13],[17] | |
Net loss from operations after profit share allocation from the Master Fund | (96.92) | 51.02 | 54.28 | (214.98) | |||||
NET ASSET VALUE PER UNIT — End of period | $ 1,379.66 | $ 1,291.25 | $ 1,379.66 | $ 1,291.25 | |||||
TOTAL RETURN BEFORE PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.56%) | [18] | 4.11% | [19] | 4.10% | [20] | (14.27%) | [21] | |
LESS: PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
TOTAL RETURN AFTER PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.56%) | 4.11% | [19] | 4.10% | [20] | (14.27%) | [21] | ||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | 2.81% | [22],[23],[24] | 2.80% | [25],[26],[27] | 2.87% | [28],[29],[30] | 2.85% | [31],[32],[33] | |
Profit share allocation from the Master Fund (2) (6) | 0.00% | [14],[18] | 0.00% | [15],[19] | 0.00% | [16],[20] | 0.00% | [17],[21] | |
Total expenses (1) | 2.81% | 2.80% | 2.87% | 2.85% | |||||
Net investment loss (3) (4) (5) | (2.80%) | [22],[23],[24] | (2.22%) | [25],[26],[27] | (2.83%) | [28],[29],[30] | (1.73%) | [31],[32],[33] | |
Series D [Member] | Limited Partner [Member] | |||||||||
Auction Market Preferred Securities, Stock Series [Line Items] | |||||||||
NET ASSET VALUE PER UNIT — Beginning of period | $ 1,380.31 | $ 1,175.10 | $ 1,251.08 | $ 1,432.49 | |||||
Net investment loss (1) (2) (4) | (11.93) | [10] | (9.36) | [11] | (35.60) | [12] | (23.53) | [13] | |
Total trading and investing losses (1) | (78.09) | [10] | 55.42 | [11] | 83.48 | [12] | (187.80) | [13] | |
Net loss before profit share allocation from the Master Fund | (90.02) | 46.06 | 47.88 | (211.33) | |||||
Less: profit share allocation from the Master Fund (1) (6) | (4.36) | [10],[14] | 0 | [11],[15] | 4.31 | [12],[16] | 0 | [13],[17] | |
Net loss from operations after profit share allocation from the Master Fund | (85.66) | 46.06 | 43.57 | (211.33) | |||||
NET ASSET VALUE PER UNIT — End of period | $ 1,294.65 | $ 1,221.16 | $ 1,294.65 | $ 1,221.16 | |||||
TOTAL RETURN BEFORE PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.81%) | [18] | 3.92% | [19] | 3.81% | [20] | (14.75%) | [21] | |
LESS: PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) (6) | (60.00%) | [14],[18] | 0.00% | [15],[19] | 0.33% | [16],[20] | 0.00% | [17],[21] | |
TOTAL RETURN AFTER PROFIT SHARE ALLOCATION FROM THE MASTER FUND (2) | (6.21%) | 3.92% | [19] | 3.48% | [20] | (14.75%) | [21] | ||
RATIOS TO AVERAGE NET ASSET VALUE: | |||||||||
Expenses (1) (4) | 3.57% | [22],[23],[24] | 3.55% | [25],[26],[27] | 3.63% | [28],[29],[30] | 3.59% | [31],[32],[33] | |
Profit share allocation from the Master Fund (2) (6) | (0.60%) | [14],[18] | 0.00% | [15],[19] | 0.33% | [16],[20] | 0.00% | [17],[21] | |
Total expenses (1) | 2.97% | 3.55% | 3.96% | 3.59% | |||||
Net investment loss (3) (4) (5) | (3.56%) | [22],[23],[24] | (2.98%) | [25],[26],[27] | (3.59%) | [28],[29],[30] | (2.60%) | [31],[32],[33] | |
[1] | Annualized. | ||||||||
[2] | Excludes General Partner profit share allocation and includes interest income. | ||||||||
[3] | Includes the Limited Partners’ proportionate share of expenses allocated from the Master Fund’s operations for the three | ||||||||
[4] | Not Annualized. | ||||||||
[5] | Annualized. | ||||||||
[6] | Excludes General Partner profit share allocation and includes interest income. | ||||||||
[7] | Includes the Limited Partner’s proportionate share of expenses allocated from the Master Fund’s operations for the | ||||||||
[8] | Not Annualized. | ||||||||
[9] | In instances of 0.00, value is less than 0.01 when rounded to two decimal places. | ||||||||
[10] | The net investment loss per unit and profit share allocation from the Master Fund per unit is calculated by dividing the net investment loss and profit share allocation from the Master Fund by the average number of units outstanding during the period. Total trading and investing gains is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | ||||||||
[11] | The net investment loss per unit and profit share allocation from the Master Fund per unit is calculated by dividing the net investment loss and profit share allocation from the Master Fund by the average number of units outstanding during the period. Total trading and investing gains is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | ||||||||
[12] | The net investment loss per unit and profit share allocation from the Master Fund per unit is calculated by dividing the net investment loss and profit share allocation from the Master Fund by the average number of units outstanding during the period. Total trading and investing loss is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | ||||||||
[13] | The net investment loss per unit and profit share allocation from the Master Fund per unit is calculated by dividing the net investment loss and profit share allocation from the Master Fund by the average number of units outstanding during the period. Total trading and investing gains is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. | ||||||||
[14] | Profit share for Series B and C is calculated based on Series B and C aggregate trading profits and may be impacted by rebalancing due to monthly capital activity. | ||||||||
[15] | Profit share for Series B and C is calculated based on Series B and C aggregate trading profits and may be impacted by rebalancing due to monthly capital activity. | ||||||||
[16] | Profit share for Series B and C is calculated based on Series B and C aggregate trading profits and may be impacted by rebalancing due to monthly capital activity. | ||||||||
[17] | Profit share for Series B and C is calculated based on Series B and C aggregate trading profits and may be impacted by rebalancing due to monthly capital activity. | ||||||||
[18] | Not Annualized. | ||||||||
[19] | Not Annualized. | ||||||||
[20] | Not Annualized. | ||||||||
[21] | Not Annualized. | ||||||||
[22] | Annualized. | ||||||||
[23] | Excludes profit share allocation from the Master Fund. | ||||||||
[24] | Includes the Partnership’s proportionate share of income (if applicable) and expenses allocated from the Master Fund. | ||||||||
[25] | Annualized. | ||||||||
[26] | Excludes profit share allocation from the Master Fund. | ||||||||
[27] | Includes the Partnership’s proportionate share of income (if applicable) and expenses allocated from the Master Fund. | ||||||||
[28] | Annualized. | ||||||||
[29] | Excludes profit share allocation from the Master Fund. | ||||||||
[30] | Includes the Partnership’s proportionate share of income (if applicable) and expenses allocated from the Master Fund. | ||||||||
[31] | Annualized. | ||||||||
[32] | Excludes profit share allocation from the Master Fund. | ||||||||
[33] | Includes the Partnership’s proportionate share of income (if applicable) and expenses allocated from the Master Fund. |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of Millburn Multi-Markets Fund L.P.’s (the “Partnership”) financial condition at September 30, 2021 (unaudited) and December 31, 2020 and the results of its operations for the three and nine months ended September 30, 2021 and 2020 (unaudited). These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. It is suggested that these financial statements be read in conjunction with the audited financial statements and notes included in the Partnership’s 2020 annual report included in Form 10-K filed with the Securities and Exchange Commission. The December 31, 2020 information has been derived from the audited financial statements as of December 31, 2020. The preparation of financial statements in conformity with accounting principles generally accepted (“U.S. GAAP”) in the United States of America (the “U.S.”), as detailed in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“Codification”), requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Actual results could differ from these estimates. The Partnership enters into contracts with various financial institutions that contain a variety of indemnification provisions. The Partnership’s maximum exposure under these arrangements is unknown. However, the Partnership has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. The Income Taxes (Topic 740) of the Codification clarifies the accounting for uncertainty in tax positions. This requires that the Partnership recognize in its financial statements the impact of any uncertain tax positions. Based on a review of the Partnership’s open tax years, 2017 to 2020, Millburn Ridgefield Corporation (the “General Partner”) has determined that no reserves for uncertain tax positions were required. There have been no material changes with respect to the Partnership’s critical accounting policies, off-balance sheet arrangements or disclosure of contractual obligations as reported in the Partnership’s Annual Report on Form 10-K for fiscal year 2020. |
Millburn Multi Markets Trading L P [Member] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Master Fund engages in the speculative trading of futures and forward currency contracts, as well as hedging using forward currency contracts and also acts as a master fund for the Partnership and Millburn Multi-Markets Ltd., a Cayman Islands exempted company (the “Cayman Feeder”). The accompanying financial statements, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Master Fund’s financial condition at September 30, 2021 (unaudited) and December 31, 2020 (audited) and the results of its operations for the three and nine months ended September 30, 2021 and 2020 (unaudited). These financial statements present the results of interim periods and do not include all disclosures normally provided in annual financial statements. It is suggested that these financial statements be read in conjunction with the audited financial statements and notes included in the Master Fund’s annual report for the year ended December 31, 2020 included in the Partnership’s annual report on Form 10-K filed with the Securities and Exchange Commission. The December 31, 2020 information has been derived from the audited financial statements as of December 31, 2020. The preparation of financial statements in conformity with U.S. GAAP in the U.S, as detailed in the FASB Codification, requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Actual results could differ from these estimates. The Master Fund enters into contracts with various financial institutions that contain a variety of indemnification provisions. The Master Fund’s maximum exposure under these arrangements is unknown. However, the Master Fund has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote. The Income Taxes (Topic 740) of the Codification clarifies the accounting for uncertainty in tax positions. This requires that the Partnership recognize in its financial statements the impact of any uncertain tax positions. Based on a review of the Partnership’s open tax years, 2017 to 2020, the General Partner has determined that no reserves for uncertain tax positions were required. Investment Company Status: The Partnership is for U.S. GAAP purposes an investment company in accordance with FASB Codification 946 Financial Services – Investment Companies |
INVESTMENT IN MILLBURN MULTI-MA
INVESTMENT IN MILLBURN MULTI-MARKETS TRADING L.P. | 9 Months Ended |
Sep. 30, 2021 | |
Investments, All Other Investments [Abstract] | |
INVESTMENT IN MILLBURN MULTI-MARKETS TRADING L.P. | 2. INVESTMENT IN MILLBURN MULTI-MARKETS TRADING L.P. The Partnership invests substantially all of its assets in Millburn Multi-Markets Trading L.P. (the “Master Fund”). The Partnership’s ownership percentage of the Master Fund at September 30, 2021 and December 31, 2020 was 29.38 25.08 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 3. RELATED PARTY TRANSACTIONS The Partnership bears its own expenses, including, but not limited to, periodic legal, accounting and filing fees. Administrative and operating expenses related to investors in the Partnership (including their pro-rata share of Master Fund expenses) are not expected to exceed 1/2 of 1% per annum of the Partnership’s average month-end partners’ capital. Series A Limited Partners that redeem Units at or prior to the end of the first eleven months after such Units are sold shall be assessed redemption charges calculated based on their redeemed Units’ net asset value as of the date of redemption. All redemption charges will be paid to the General Partner. At September 30, 2021 and December 31, 2020, there were no redemption charges owed to the General Partner. |
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS | 9 Months Ended |
Sep. 30, 2021 | |
FINANCIAL HIGHLIGHTS | 4. FINANCIAL HIGHLIGHTS Per unit operating performance for Series A, Series B, Series C and Series D Units is calculated based on Limited Partners’ Partnership capital for each series taken as a whole utilizing the beginning and ending net asset value per unit and weighted average number of units during the period. Weighted average number of units of each series is detailed below. Schedule of weighted number of units Schedule of weighted number of units Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Series A 92,344.719 118,034.723 94,871.221 127,159.028 Series B 5,148.518 6,537.753 5,310.402 6,850.092 Series C 2,511.196 3,305.893 2,724.337 3,288.386 Series D 7,015.673 13,018.240 9,968.982 10,959.560 |
Millburn Multi Markets Trading L P [Member] | |
FINANCIAL HIGHLIGHTS | 6. FINANCIAL HIGHLIGHTS Ratios to average capital are calculated based on 1) a Limited Partner that is charged a monthly management fee of 1/12 of 1.75% (1.75% per annum) 20 1.75 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
SUBSEQUENT EVENTS | 5. SUBSEQUENT EVENTS The General Partner has performed its evaluation of subsequent events through November 12, 2021, the date the Form 10-Q was filed. Based on such evaluation, no events were discovered that required disclosure or adjustment to the financial statement. |
Millburn Multi Markets Trading L P [Member] | |
SUBSEQUENT EVENTS | 7. SUBSEQUENT EVENTS The General Partner has performed its evaluation of subsequent events through November 12, 2021, the date this form 10-Q was filed. Based on such evaluation, no further were discovered that required disclosure or adjustment to the 10-Q. |
INVESTORS IN MILLBURN MULTI-MAR
INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. | 9 Months Ended |
Sep. 30, 2021 | |
INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. | 2. INVESTMENT IN MILLBURN MULTI-MARKETS TRADING L.P. The Partnership invests substantially all of its assets in Millburn Multi-Markets Trading L.P. (the “Master Fund”). The Partnership’s ownership percentage of the Master Fund at September 30, 2021 and December 31, 2020 was 29.38 25.08 |
Millburn Multi Markets Trading L P [Member] | |
INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. | 2. INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. The Partnership and the Cayman Feeder invest substantially all of their assets in the Master Fund. At September 30, 2021 and December 31, 2020, the respective ownership percentages of the Master Fund are detailed below. The remaining interests are held by direct investors in the Master Fund. Schedule of interests are held by direct investors in the Master Fund September 30, December 31, 2021 2020 Partnership 29.38 % 25.08 % Cayman Feeder 58.58 % 65.81 % Total 87.96 % 90.89 % The capital withdrawals payable at September 30, 2021 and December 31, 2020 were $ 24,349,962 54,219,673 Schedule of capital withdrawals payable September 30, December 31, 2021 2020 Direct investors (1) $ — $ 990,861 Partnership 505,754 2,272,143 Cayman Feeder 23,844,208 50,956,669 Total $ 24,349,962 $ 54,219,673 (1) Includes General Partner’s profit share of $ 622,309 The Master Fund bears expenses, including, but not limited to, periodic legal, accounting and filing fees, up to an amount equal to 1/4 of 1% per annum of average net assets of the Master Fund (the “Expense Cap”). Amounts subject to the Expense Cap include expenses incurred at the Master Fund and Cayman Feeder level. The General Partner bears any excess over such amounts. |
FAIR VALUE
FAIR VALUE | 9 Months Ended |
Sep. 30, 2021 | |
Millburn Multi Markets Trading L P [Member] | |
FAIR VALUE | 3. FAIR VALUE The Fair Value Measurement (Topic 820) of the Codification defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; and Level 3: Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. In determining fair value, the Master Fund separates its investments into two categories: cash instruments and derivative contracts. Cash Instruments. The Master Fund’s cash instruments are generally classified within Level 1 of the fair value hierarchy because they are typically valued using quoted market prices. The types of instruments valued based on quoted market prices in active markets include U.S. government obligations. The General Partner does not adjust the quoted price for such instruments, even in situations where the Master Fund holds a large position and a sale could reasonably impact the quoted price. Derivative Contracts. Derivative contracts can be exchange-traded or over-the-counter (“OTC”). Exchange-traded futures contracts are valued based on quoted closing settlement prices and typically fall within Level 1 of the fair value hierarchy. Spot currency contracts are valued based on current market prices (“Spot Price”). Forward currency contracts are valued based on pricing models that consider the Spot Price plus the financing cost or benefit (“Forward Point”). Forward Points from the quotation service providers are generally in periods of one month, two months, three months, six months, nine months and twelve months forward while the contractual forward delivery dates for the forward currency contracts traded by the Master Fund may be in between these periods. The General Partner’s policy to determine fair value for forward currency contracts involves first calculating the number of months from the date the forward currency contract is being valued to its maturity date (“Months to Maturity”), then identifying the forward currency contracts for the two forward months that are closest to the Months to Maturity (“Forward Month Contracts”). Linear interpolation is then performed between the dates of these two Forward Month Contracts to calculate the interpolated Forward Point. Model inputs can generally be verified and model selection does not involve significant management judgment. Such instruments are typically classified within Level 2 of the fair value hierarchy. During the three and nine months ended September 30, 2021 and 2020, there were no transfers of assets or liabilities between Level 1 and Level 2. The following tables represent the Master Fund’s investments by hierarchical level as of September 30, 2021 and December 31, 2020 in valuing the Master Fund’s investments at fair value. During the nine and twelve months ended September 30, 2021 and December 31, 2020, the Master Fund held no assets or liabilities in Level 3. At September 30, 2021 and December 31, 2020, the Master Fund had no assets or liabilities in Level 3. Financial assets and liabilities at fair value as of September 30, 2021 Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis Level 1 Level 2 Total U.S. Treasury notes (1) $ 393,466,366 $ — $ 393,466,366 Short-Term Money Market Fund* 29,488,041 — 29,488,041 Exchange-traded futures contracts Energies 4,753,412 — 4,753,412 Grains 983,270 — 983,270 Interest rates (492,672 ) — (492,672 ) Livestock 44,820 — 44,820 Metals (1,305,774 ) — (1,305,774 ) Softs 147,009 — 147,009 Stock indices (2,052,581 ) — (2,052,581 ) Total exchange-traded futures contracts 2,077,484 — 2,077,484 Over-the-counter forward currency contracts — (5,527,172 ) (5,527,172 ) Total futures and forward currency contracts (2) 2,077,484 (5,527,172 ) (3,449,688 ) Total financial assets and liabilities at fair value $ 425,031,891 $ (5,527,172 ) $ 419,504,719 Per line item in the Statements of Financial Condition (1) Investments in U.S. Treasury notes held in equity trading accounts as collateral $ 96,277,823 Investments in U.S. Treasury notes held in custody 297,188,543 Total investments in U.S. Treasury notes $ 393,466,366 (2) Net unrealized appreciation on open futures and forward currency contracts $ 3,955,234 Net unrealized depreciation on open futures and forward currency contracts (7,404,922 ) Total net unrealized depreciation on open futures and forward currency contracts $ (3,449,688 ) * The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. Financial assets and liabilities at fair value as of December 31, 2020 Level 1 Level 2 Total U.S. Treasury notes (1) $ 500,015,300 $ — $ 500,015,300 Short-Term Money Market Fund* 42,248,650 — 42,248,650 Exchange-traded futures contracts Energies 1,411,245 — 1,411,245 Grains 2,970,371 — 2,970,371 Interest rates 2,061,873 — 2,061,873 Livestock (12,760 ) — (12,760 ) Metals 5,115,659 — 5,115,659 Softs 230,325 — 230,325 Stock indices 5,340,762 — 5,340,762 Total exchange-traded futures contracts 17,117,475 — 17,117,475 Over-the-counter forward currency contracts — 2,940,758 2,940,758 Total futures and forward currency contracts (2) 17,117,475 2,940,758 20,058,233 Total financial assets and liabilities at fair value $ 559,381,425 $ 2,940,758 $ 562,322,183 Per line item in the Statements of Financial Condition (1) Investments in U.S. Treasury notes held in equity trading accounts as collateral $ 91,539,195 Investments in U.S. Treasury notes 408,476,105 Total investments in U.S. Treasury notes $ 500,015,300 (2) Net unrealized appreciation on open futures and forward currency contracts $ 20,183,485 Net unrealized depreciation on open futures and forward currency contracts (125,252 ) Total net unrealized appreciation on open futures and forward currency contracts $ 20,058,233 * The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. |
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS | 9 Months Ended |
Sep. 30, 2021 | |
Millburn Multi Markets Trading L P [Member] | |
DERIVATIVE INSTRUMENTS | 4. DERIVATIVE INSTRUMENTS The Derivatives and Hedging (Topic 815) of the Codification requires qualitative disclosure about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. The Master Fund’s market risk is influenced by a wide variety of factors, including the level and volatility of interest rates, exchange rates, equity price levels, the market value of financial instruments and contracts, the diversification effects among the Master Fund’s open positions and the liquidity of the markets in which it trades. The Master Fund engages in the speculative trading of futures and forward contracts on interest rates, grains, softs, currencies, metals, energies, livestock and stock indices. The following were the primary trading risk exposures of the Master Fund at September 30, 2021 by market sector: Agricultural (grains, livestock and softs) – The Master Fund’s primary exposure is to agricultural price movements, which are often directly affected by severe or unexpected weather conditions, as well as supply and demand factors. Currencies – Exchange rate risk is a principal market exposure of the Master Fund. The Master Fund’s currency exposure is to exchange rate fluctuations, primarily fluctuations which disrupt the historical pricing relationships between different currencies and currency pairs. The fluctuations are influenced by interest rate changes, as well as political and general economic conditions. The Master Fund trades in a large number of currencies, including cross-rates—e.g., positions between two currencies other than the U.S. dollar. Energies – The Master Fund’s primary energy market exposure is to gas and oil price movements often resulting from political developments in the oil producing countries and economic conditions worldwide. Energy prices are volatile and substantial profits and losses have been and are expected to continue to be experienced in this sector. Interest rates – Interest rate movements directly affect the price of the sovereign bond futures positions held by the Master Fund and indirectly the value of its stock index and currency positions. Interest rate movements in one country, as well as relative interest rate movements between countries may materially impact the Master Fund’s profitability. The Master Fund’s primary interest rate exposure is to interest rate fluctuations in countries or regions including Australia, Canada, Japan, Switzerland, the United Kingdom, the U.S. and the Eurozone. However, the Master Fund also may take positions in futures contracts on the government debt of other nations. The General Partner anticipates that interest rates in these industrialized countries or areas, both long-term and short-term, will remain the primary interest rate market exposure of the Master Fund for the foreseeable future. Metals – The Master Fund’s metals market exposure is to fluctuations in the price of aluminum, copper, gold, lead, nickel, platinum, silver, tin and zinc. Stock indices – The Master Fund’s equity exposure, through stock index futures, is to equity price risk in the major industrialized countries, as well as other countries. The Derivatives and Hedging (Topic 815) of the Codification requires entities to recognize in the Statements of Financial Condition all derivative contracts as assets or liabilities. Fair values of futures and forward currency contracts in an asset position by counterparty are recorded in the Statements of Financial Condition as “Net unrealized appreciation on open futures and forward currency contracts.” Fair values of futures and forward currency contracts in a liability position by counterparty are recorded in the Statements of Financial Condition as “Net unrealized depreciation on open futures and forward currency contracts.” The Master Fund’s policy regarding fair value measurement is discussed in the Fair Value note, contained herein. Since the derivatives held or sold by the Master Fund are for speculative trading purposes, the derivative instruments are not designated as hedging instruments under the provisions of the Derivatives and Hedging guidance. Accordingly, all realized gains and losses, as well as any change in net unrealized gains or losses on open positions from the preceding period, are recognized as part of the Master Fund’s trading gains and losses in the Statements of Operations. The following tables present the fair value of open futures and forward currency contracts, held long or sold short, at September 30, 2021 and December 31, 2020. Fair value is presented on a gross basis even though the contracts are subject to master netting agreements and qualify for net presentation in the Master Fund’s Statements of Financial Condition. Fair value of futures and forward currency contracts at September 30, 2021 Schedule of fair value of futures and forward currency contracts Net Unrealized Gain (Loss) Fair Value - Long Positions Fair Value - Short Positions on Open Sector Gains Losses Gains Losses Positions Futures contracts: Energies $ 5,053,042 $ (88,870 ) $ 25,470 $ (236,230 ) $ 4,753,412 Grains — (9,210 ) 1,417,455 (424,975 ) 983,270 Interest rates 14,243 (1,462,839 ) 1,029,046 (73,122 ) (492,672 ) Livestock 35,900 (1,510 ) 10,430 — 44,820 Metals 862,709 (4,024,672 ) 3,226,284 (1,370,095 ) (1,305,774 ) Softs 214,210 (12,769 ) — (54,432 ) 147,009 Stock indices 106,862 (2,125,472 ) 404,611 (438,582 ) (2,052,581 ) Total futures contracts 6,286,966 (7,725,342 ) 6,113,296 (2,597,436 ) 2,077,484 Forward currency contracts 2,125,460 (21,264,583 ) 16,265,085 (2,653,134 ) (5,527,172 ) Total futures and forward currency contracts $ 8,412,426 $ (28,989,925 ) $ 22,378,381 $ (5,250,570 ) $ (3,449,688 ) Fair value of futures and forward currency contracts at December 31, 2020 Net Unrealized Gain (Loss) Fair Value - Long Positions Fair Value - Short Positions on Open Sector Gains Losses Gains Losses Positions Futures contracts: Energies $ 951,320 $ (131,565 ) $ 854,540 $ (263,050 ) $ 1,411,245 Grains 3,318,296 (300 ) — (347,625 ) 2,970,371 Interest rates 2,550,872 (463,081 ) — (25,918 ) 2,061,873 Livestock — — 1,910 (14,670 ) (12,760 ) Metals 7,202,141 (949,128 ) 737,287 (1,874,641 ) 5,115,659 Softs 346,947 (952 ) 2,090 (117,760 ) 230,325 Stock indices 5,173,445 (605,768 ) 795,375 (22,290 ) 5,340,762 Total futures contracts 19,543,021 (2,150,794 ) 2,391,202 (2,665,954 ) 17,117,475 Forward currency contracts 14,163,798 (2,977,096 ) 3,203,228 (11,449,172 ) 2,940,758 Total futures and forward currency contracts $ 33,706,819 $ (5,127,890 ) $ 5,594,430 $ (14,115,126 ) $ 20,058,233 The effect of trading futures and forward currency contracts is represented on the Master Fund’s Statements of Operations for the three and nine months ended September 30, 2021 and 2020 as “Net realized gains (losses) on closed positions: Futures and forward currency contracts” and “Net change in unrealized: Futures and forward currency contracts.” These trading gains and losses are detailed below. Trading gains (losses) of futures and forward currency contracts for the three and nine months ended September 30, 2021 and 2020 Schedule of trading gains (losses) of futures and forward currency contracts Three months Three months Nine months Nine months ended: ended: ended: ended: September 30, September 30, September 30, September 30, Sector 2021 2020 2021 2020 Futures contracts: Energies $ 3,152,244 $ 3,755,596 $ 23,708,484 $ 38,622,323 Grains 858,209 (2,756,806 ) 2,665,340 (2,222,408 ) Interest rates (8,169,527 ) (11,243,708 ) (10,590,727 ) (11,545,189 ) Livestock (55,930 ) 349,200 (585,010 ) 1,101,830 Metals (2,670,251 ) 3,466,841 2,350,604 (5,805,613 ) Softs 50,062 23,463 (1,945,195 ) 1,041,892 Stock indices (10,246,001 ) 23,781,674 40,585,651 (158,123,044 ) Total futures contracts (17,081,194 ) 17,376,260 56,189,147 (136,930,209 ) Forward currency contracts (11,762,425 ) 14,475,259 (21,486,213 ) 23,253,275 Total futures and forward currency contracts $ (28,843,619 ) $ 31,851,519 $ 34,702,934 $ (113,676,934 ) For the three months ended September 30, 2021 and 2020, the monthly average number of future contracts bought and sold and the monthly average notional value of forward currency contracts traded are detailed below: ]Schedule of monthly average future and forward currency contracts 2021 2020 Average bought 79,295 104,534 Average sold 84,064 103,187 Average notional $ 10,024,000,000 $ 8,746,000,000 The customer agreements between the Master Fund, the futures clearing brokers including, Deutsche Bank Securities Inc. (a wholly owned subsidiary of Deutsche Bank AG), BofA Securities, Inc. (formerly Merrill Lynch Pierce, Fenner & Smith Inc.) and Goldman Sachs & Co. LLC, as well as the FX prime brokers, Deutsche Bank AG (“DB”) and Bank of America, N.A. (“BA”), give the Master Fund the legal right to net unrealized gains and losses on open futures and forward currency contracts. The Master Fund ceased clearing futures trades through SG Americas Securities, LLC. during November 2020.The Master Fund netted, for financial reporting purposes, the unrealized gains and losses on open futures and forward currency contracts on the Statements of Financial Condition as the criteria under FASB Accounting Standards Codification Topic 210, “ Balance Sheet The following tables represent gross amounts of assets or liabilities which qualify for offset as presented in the Statements of Financial Condition as of September 30, 2021 and December 31, 2020. Offsetting of derivative assets and liabilities at September 30, 2021 Schedule of offsetting Derivative Assets And Liabilities Gross amounts of Gross amounts offset in the Statements of Net amounts of assets presented in the Statements of recognized Financial Financial Assets assets Condition Condition Futures contracts Counterparty J $ 2,634,111 $ (696,580 ) $ 1,937,531 Counterparty L 9,180,388 (7,162,685 ) 2,017,703 Total assets $ 11,814,499 $ (7,859,265 ) $ 3,955,234 Gross Net amounts of liabilities amounts offset in the presented Gross amounts of Statements of Statements Liabilities recognized liabilities Financial Condition Financial Futures contracts Counterparty C $ 2,463,513 $ (585,763 ) $ 1,877,750 Forward currency contracts Counterparty G 8,022,529 (5,005,040 ) 3,017,489 Counterparty K 15,895,188 (13,385,505 ) 2,509,683 Total forward currency contracts 23,917,717 (18,390,545 ) 5,527,172 Total liabilities $ 26,381,230 $ (18,976,308 ) $ 7,404,922 Amounts Not Offset in the Statements of Net amounts of Assets presented in the Statements of Financial Financial Collateral Net Counterparty Condition Instruments Received (1)(2) Amount (3) Counterparty J $ 1,937,531 $ — $ (1,937,531 ) $ — Counterparty L 2,017,703 — (2,017,703 ) — Total $ 3,955,234 $ — $ (3,955,234 ) $ — Amounts Not Offset in the Statements of Net amounts of Liabilities presented in the Statements of Financial Financial Collateral Net Counterparty Condition Instruments Pledged (1)(2) Amount (4) Counterparty C $ 1,877,750 $ — $ 1,877,750 $ — Counterparty G 3,017,489 $ — 3,017,489 $ — Counterparty K 2,509,683 — 2,509,683 — Total $ 7,404,922 $ — $ 7,404,922 $ — (1) Collateral received includes trades made on exchanges. These trades are subject to central counterparty clearing where (2) Collateral disclosed is limited to an amount not to exceed 100% of the net amount of liabilities presented in the (3) Net amount represents the amount that is subject to loss in the event of a counterparty failure as of September 30, 2021. (4) Net amount represents the amounts owed by the Master Fund to each counterparty as of September 30, 2021. Offsetting of derivative assets and liabilities at December 31, 2020 Net amounts of Gross Gross amounts offset in the assets presented in the amounts of Statements of Statements of Assets recognized assets Financial Condition Financial Condition Futures contracts Counterparty C $ 7,424,604 $ (845,191 ) $ 6,579,413 Counterparty J 2,079,575 (195,917 ) 1,883,658 Counterparty L 12,430,044 (3,775,640 ) 8,654,404 Total futures contracts 21,934,223 (4,816,748 ) 17,117,475 Forward currency contracts Counterparty G 8,394,326 (5,328,316 ) 3,066,010 Total assets $ 30,328,549 $ (10,145,064 ) $ 20,183,485 Net Gross amounts offset in the amounts of Gross amounts of Statement of Statement Liabilities recognized liabilities Financial Condition Financial Forward currency contracts Counterparty K $ 9,097,952 $ (8,972,700) $ 125,252 Total liabilities $ 9,097,952 $ (8,972,700) $ 125,252 Amounts Not Offset in the Statements of Net amounts of Assets presented in the Statements of Financial Financial Collateral Net Counterparty Condition Instruments Received (1)(2) Amount (3) Counterparty C $ 6,579,413 $ — $ (6,579,413 ) $ — Counterparty J 1,883,658 — (1,883,658 ) — Counterparty L 8,654,404 — (8,654,404 ) — Counterparty G 3,066,010 — — 3,066,010 Total $ 20,183,485 $ — $ (17,117,475 ) $ 3,066,010 Amounts Not Offset in the Statement of Net amounts of Liabilities presented in the Statement of Financial Financial Collateral Net Counterparty Condition Instruments Pledged (1)(2) Amount (4) Counterparty K $ 125,252 — $ (125,252 ) — Total $ 125,252 $ — $ (125,252 ) $ — (1) Collateral received includes trades made on exchanges. These trades are subject to central counterparty clearing where (2) Collateral disclosed is limited to an amount not to exceed 100% of the net amount of liabilities presented in the Statement (3) Net amount represents the amount that is subject to loss in the event of a counterparty failure as of December 31, 2020. (4) Net amount represents the amounts owed by the Master Fund to each counterparty as of December 31, 2020. CONCENTRATION OF CREDIT RISK 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. Credit risk is normally reduced to the extent that an exchange or clearing organization acts as a counterparty to futures transactions since typically the collective credit of the members of the exchange is pledged to support the financial integrity of the exchange. The General Partner seeks to minimize credit risk primarily by depositing and maintaining the Master Fund’s assets at financial institutions and trading counterparties which the General Partner believes to be creditworthy. In addition, for OTC forward currency contracts, the Master Fund enters into master netting agreements with its counterparties. Collateral posted at the various counterparties for trading of futures and forward currency contracts includes cash and U.S. Treasury notes. The Master Fund’s forward currency trading activities are cleared by DB and BA. The Master Fund’s concentration of credit risk associated with DB, or BA nonperformance includes unrealized gains inherent in such contracts, which are recognized in the Statements of Financial Condition plus the value of margin or collateral held by DB, and BA. The amount of such credit risk was $ 55,869,829 47,021,416 |
PROFIT SHARE
PROFIT SHARE | 9 Months Ended |
Sep. 30, 2021 | |
Millburn Multi Markets Trading L P [Member] | |
PROFIT SHARE | 5. PROFIT SHARE The following table indicates the total profit share earned and accrued during the three and nine months ended September 30, 2021 and 2020. Profit share earned (from Limited Partners’ redemptions) is credited to the New Profit Memo Account as defined in the Master Fund’s Agreement of Limited Partnership. Schedule of profit share Three months ended: Three months ended: September 30, September 30, Profit share earned $ 11,307 $ — Reversal of profit share (1) (1,318,781 ) (32,583 ) Profit share accrued 393,293 105,482 Total profit share $ (914,181 ) $ 72,899 Nine months ended: Nine months ended: September 30, September 30, Profit share earned $ 208,863 $ — Profit share accrued 393,293 105,482 Total profit share $ 602,156 $ 105,482 (1) Reversal of profit share occurs on July 1st |
FINANCIAL HIGHLIGHTS (Tables)
FINANCIAL HIGHLIGHTS (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Financial Highlights | |
Schedule of weighted number of units | Schedule of weighted number of units Schedule of weighted number of units Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 Series A 92,344.719 118,034.723 94,871.221 127,159.028 Series B 5,148.518 6,537.753 5,310.402 6,850.092 Series C 2,511.196 3,305.893 2,724.337 3,288.386 Series D 7,015.673 13,018.240 9,968.982 10,959.560 |
INVESTORS IN MILLBURN MULTI-M_2
INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments, All Other Investments [Abstract] | |
Schedule of interests are held by direct investors in the Master Fund | Schedule of interests are held by direct investors in the Master Fund September 30, December 31, 2021 2020 Partnership 29.38 % 25.08 % Cayman Feeder 58.58 % 65.81 % Total 87.96 % 90.89 % |
Schedule of capital withdrawals payable | Schedule of capital withdrawals payable September 30, December 31, 2021 2020 Direct investors (1) $ — $ 990,861 Partnership 505,754 2,272,143 Cayman Feeder 23,844,208 50,956,669 Total $ 24,349,962 $ 54,219,673 (1) Includes General Partner’s profit share of $ 622,309 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis Level 1 Level 2 Total U.S. Treasury notes (1) $ 393,466,366 $ — $ 393,466,366 Short-Term Money Market Fund* 29,488,041 — 29,488,041 Exchange-traded futures contracts Energies 4,753,412 — 4,753,412 Grains 983,270 — 983,270 Interest rates (492,672 ) — (492,672 ) Livestock 44,820 — 44,820 Metals (1,305,774 ) — (1,305,774 ) Softs 147,009 — 147,009 Stock indices (2,052,581 ) — (2,052,581 ) Total exchange-traded futures contracts 2,077,484 — 2,077,484 Over-the-counter forward currency contracts — (5,527,172 ) (5,527,172 ) Total futures and forward currency contracts (2) 2,077,484 (5,527,172 ) (3,449,688 ) Total financial assets and liabilities at fair value $ 425,031,891 $ (5,527,172 ) $ 419,504,719 Per line item in the Statements of Financial Condition (1) Investments in U.S. Treasury notes held in equity trading accounts as collateral $ 96,277,823 Investments in U.S. Treasury notes held in custody 297,188,543 Total investments in U.S. Treasury notes $ 393,466,366 (2) Net unrealized appreciation on open futures and forward currency contracts $ 3,955,234 Net unrealized depreciation on open futures and forward currency contracts (7,404,922 ) Total net unrealized depreciation on open futures and forward currency contracts $ (3,449,688 ) * The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. Financial assets and liabilities at fair value as of December 31, 2020 Level 1 Level 2 Total U.S. Treasury notes (1) $ 500,015,300 $ — $ 500,015,300 Short-Term Money Market Fund* 42,248,650 — 42,248,650 Exchange-traded futures contracts Energies 1,411,245 — 1,411,245 Grains 2,970,371 — 2,970,371 Interest rates 2,061,873 — 2,061,873 Livestock (12,760 ) — (12,760 ) Metals 5,115,659 — 5,115,659 Softs 230,325 — 230,325 Stock indices 5,340,762 — 5,340,762 Total exchange-traded futures contracts 17,117,475 — 17,117,475 Over-the-counter forward currency contracts — 2,940,758 2,940,758 Total futures and forward currency contracts (2) 17,117,475 2,940,758 20,058,233 Total financial assets and liabilities at fair value $ 559,381,425 $ 2,940,758 $ 562,322,183 Per line item in the Statements of Financial Condition (1) Investments in U.S. Treasury notes held in equity trading accounts as collateral $ 91,539,195 Investments in U.S. Treasury notes 408,476,105 Total investments in U.S. Treasury notes $ 500,015,300 (2) Net unrealized appreciation on open futures and forward currency contracts $ 20,183,485 Net unrealized depreciation on open futures and forward currency contracts (125,252 ) Total net unrealized appreciation on open futures and forward currency contracts $ 20,058,233 * The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. |
DERIVATIVE INSTRUMENTS (Tables)
DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of fair value of futures and forward currency contracts | Schedule of fair value of futures and forward currency contracts Net Unrealized Gain (Loss) Fair Value - Long Positions Fair Value - Short Positions on Open Sector Gains Losses Gains Losses Positions Futures contracts: Energies $ 5,053,042 $ (88,870 ) $ 25,470 $ (236,230 ) $ 4,753,412 Grains — (9,210 ) 1,417,455 (424,975 ) 983,270 Interest rates 14,243 (1,462,839 ) 1,029,046 (73,122 ) (492,672 ) Livestock 35,900 (1,510 ) 10,430 — 44,820 Metals 862,709 (4,024,672 ) 3,226,284 (1,370,095 ) (1,305,774 ) Softs 214,210 (12,769 ) — (54,432 ) 147,009 Stock indices 106,862 (2,125,472 ) 404,611 (438,582 ) (2,052,581 ) Total futures contracts 6,286,966 (7,725,342 ) 6,113,296 (2,597,436 ) 2,077,484 Forward currency contracts 2,125,460 (21,264,583 ) 16,265,085 (2,653,134 ) (5,527,172 ) Total futures and forward currency contracts $ 8,412,426 $ (28,989,925 ) $ 22,378,381 $ (5,250,570 ) $ (3,449,688 ) Fair value of futures and forward currency contracts at December 31, 2020 Net Unrealized Gain (Loss) Fair Value - Long Positions Fair Value - Short Positions on Open Sector Gains Losses Gains Losses Positions Futures contracts: Energies $ 951,320 $ (131,565 ) $ 854,540 $ (263,050 ) $ 1,411,245 Grains 3,318,296 (300 ) — (347,625 ) 2,970,371 Interest rates 2,550,872 (463,081 ) — (25,918 ) 2,061,873 Livestock — — 1,910 (14,670 ) (12,760 ) Metals 7,202,141 (949,128 ) 737,287 (1,874,641 ) 5,115,659 Softs 346,947 (952 ) 2,090 (117,760 ) 230,325 Stock indices 5,173,445 (605,768 ) 795,375 (22,290 ) 5,340,762 Total futures contracts 19,543,021 (2,150,794 ) 2,391,202 (2,665,954 ) 17,117,475 Forward currency contracts 14,163,798 (2,977,096 ) 3,203,228 (11,449,172 ) 2,940,758 Total futures and forward currency contracts $ 33,706,819 $ (5,127,890 ) $ 5,594,430 $ (14,115,126 ) $ 20,058,233 |
Schedule of trading gains (losses) of futures and forward currency contracts | Schedule of trading gains (losses) of futures and forward currency contracts Three months Three months Nine months Nine months ended: ended: ended: ended: September 30, September 30, September 30, September 30, Sector 2021 2020 2021 2020 Futures contracts: Energies $ 3,152,244 $ 3,755,596 $ 23,708,484 $ 38,622,323 Grains 858,209 (2,756,806 ) 2,665,340 (2,222,408 ) Interest rates (8,169,527 ) (11,243,708 ) (10,590,727 ) (11,545,189 ) Livestock (55,930 ) 349,200 (585,010 ) 1,101,830 Metals (2,670,251 ) 3,466,841 2,350,604 (5,805,613 ) Softs 50,062 23,463 (1,945,195 ) 1,041,892 Stock indices (10,246,001 ) 23,781,674 40,585,651 (158,123,044 ) Total futures contracts (17,081,194 ) 17,376,260 56,189,147 (136,930,209 ) Forward currency contracts (11,762,425 ) 14,475,259 (21,486,213 ) 23,253,275 Total futures and forward currency contracts $ (28,843,619 ) $ 31,851,519 $ 34,702,934 $ (113,676,934 ) |
]Schedule of monthly average future and forward currency contracts | ]Schedule of monthly average future and forward currency contracts 2021 2020 Average bought 79,295 104,534 Average sold 84,064 103,187 Average notional $ 10,024,000,000 $ 8,746,000,000 |
PROFIT SHARE (Tables)
PROFIT SHARE (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Profit Share | |
Schedule of profit share | Schedule of profit share Three months ended: Three months ended: September 30, September 30, Profit share earned $ 11,307 $ — Reversal of profit share (1) (1,318,781 ) (32,583 ) Profit share accrued 393,293 105,482 Total profit share $ (914,181 ) $ 72,899 Nine months ended: Nine months ended: September 30, September 30, Profit share earned $ 208,863 $ — Profit share accrued 393,293 105,482 Total profit share $ 602,156 $ 105,482 (1) Reversal of profit share occurs on July 1st |
INVESTMENT IN MILLBURN MULTI-_2
INVESTMENT IN MILLBURN MULTI-MARKETS TRADING L.P. (Details Narrative) | Sep. 30, 2021 | Dec. 31, 2020 |
Investments, All Other Investments [Abstract] | ||
Partnership's investment | 29.38% | 25.08% |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | 9 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
Description of administrative and operating expenses related to investors | 1/2 of 1% per annum of the Partnership’s average month-end partners’ capital. |
FINANCIAL HIGHLIGHTS (Details)
FINANCIAL HIGHLIGHTS (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Series A [Member] | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted average number of units | 92,344.719 | 118,034.723 | 94,871.221 | 127,159.028 |
Series B [Member] | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted average number of units | 5,148.518 | 6,537.753 | 5,310.402 | 6,850.092 |
Series C [Member] | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted average number of units | 2,511.196 | 3,305.893 | 2,724.337 | 3,288.386 |
Series D [Member] | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted average number of units | 7,015.673 | 13,018.240 | 9,968.982 | 10,959.560 |
Statements of Financial Condi_3
Statements of Financial Conditions - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
CASH AND CASH EQUIVALENTS | $ 10,750 | |
LIABILITIES: | ||
Capital withdrawals payable to Limited Partners | 516,504 | 2,272,143 |
Total liabilities | 516,504 | 2,272,143 |
PARTNERS’ CAPITAL | 126,177,269 | 139,012,777 |
TOTAL | 126,693,773 | 141,284,920 |
Millburn Multi Markets Trading L P [Member] | ||
ASSETS | ||
Investments in U.S. Treasury notes — at fair value (amortized cost $96,283,669 and $91,546,413) | 96,277,823 | 91,539,195 |
Net unrealized appreciation on open futures and forward currency contracts | 3,955,234 | 20,183,485 |
Due from brokers, net | 23,100,583 | 22,876,161 |
Cash denominated in foreign currencies (cost $19,127,491 and $21,945,775) | 18,796,748 | 22,644,281 |
Total equity in trading accounts | 142,130,388 | 157,243,122 |
INVESTMENTS IN U.S. TREASURY NOTES — at fair value (amortized cost $297,207,360 and $408,518,267) | 297,188,543 | 408,476,105 |
CASH AND CASH EQUIVALENTS | 29,738,141 | 42,498,650 |
ACCRUED INTEREST RECEIVABLE | 2,290,409 | 3,523,202 |
DUE FROM MILLBURN MULTI-MARKETS LTD. | 100 | |
TOTAL | 471,347,481 | 611,741,179 |
LIABILITIES: | ||
Net unrealized depreciation on open futures and forward currency contracts | 7,404,922 | 125,252 |
Capital withdrawals payable to Limited Partners | 24,349,962 | 53,597,364 |
Capital withdrawal payable to General Partner | 622,309 | |
Management fee payable | 439,273 | 648,347 |
Selling commissions payable | 179,300 | 196,027 |
Accrued expenses | 282,755 | 286,761 |
Due to brokers, net | 8,781,400 | 1,909,153 |
Commissions and other trading fees on open futures contracts | 26,225 | 108,048 |
Accrued profit share | 393,293 | |
Total liabilities | 41,857,130 | 57,493,261 |
PARTNERS’ CAPITAL | 429,490,351 | 554,247,918 |
TOTAL | $ 471,347,481 | $ 611,741,179 |
Investment Owned, Percent of Net Assets | (0.80%) | 3.62% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (3,449,688) | $ 20,058,233 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Energies [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 1.16% | 0.15% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 4,964,172 | $ 819,755 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Energies [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.05%) | 0.11% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 992,480 | $ 591,490 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Grains [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.00%) | 0.60% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (9,210) | $ 3,317,996 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Grains [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.23% | (0.06%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (210,760) | $ (347,625) |
Millburn Multi Markets Trading L P [Member] | Interest Rate Contract [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.34%) | 0.38% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (1,448,596) | $ 2,087,791 |
Millburn Multi Markets Trading L P [Member] | Interest Rate Contract [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.00% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (25,918) | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Livestock [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.01% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 34,390 | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Livestock [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.00% | 0.00% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 10,430 | $ (12,760) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Metals [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.74%) | 1.13% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (3,161,963) | $ 6,253,013 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Metals [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.44% | (0.22%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 1,856,189 | $ (1,137,354) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Softs [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.05% | 0.06% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 201,441 | $ 345,995 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Softs [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.01%) | (0.02%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (54,432) | $ (115,670) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.47%) | 0.82% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (2,018,610) | $ 4,567,677 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.01%) | 0.14% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (33,971) | $ 773,085 |
Millburn Multi Markets Trading L P [Member] | Future [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.49% | 3.09% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 2,077,484 | $ 17,117,475 |
Millburn Multi Markets Trading L P [Member] | Future [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (0.33%) | 3.14% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (1,438,376) | $ 17,392,227 |
Millburn Multi Markets Trading L P [Member] | Future [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.82% | (0.05%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 3,515,860 | $ (274,752) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Two Year U S Treasury [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.01% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 57,953 | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Five Year U S Treasury [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.05% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 202,226 | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Ten Year U S Treasury [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.01% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 39,500 | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Otherinterestrates [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.15% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 656,245 | |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Totalinterestrates [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 0.22% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 955,924 | |
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (1.29%) | 0.53% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (5,527,172) | $ 2,940,758 |
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Long Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | (4.46%) | 2.02% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (19,139,123) | $ 11,186,702 |
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Short Contracts [Member] | ||
LIABILITIES: | ||
Investment Owned, Percent of Net Assets | 3.17% | (1.49%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 13,611,951 | $ (8,245,944) |
Statements of Financial Condi_4
Statements of Financial Conditions (Parenthetical) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)Decimal | Dec. 31, 2020USD ($)Decimal | |
Second Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Investment term | 2 years | 2 years |
Investment Owned, Balance, Contracts | Decimal | 408 | 400 |
Investment settlement date | December 2021 | March 2021 |
Five Years U S Treasury Note [Member] | Long Contracts [Member] | ||
Investment term | 5 years | |
Investment Owned, Balance, Contracts | Decimal | 991 | |
Investment settlement date | December 2021 | |
Ten Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Investment term | 10 years | 10 years |
Investment Owned, Balance, Contracts | Decimal | 421 | 1,971 |
Investment settlement date | December 2021 | March 2021 |
Millburn Multi Markets Trading L P [Member] | ||
Investments in U.S Treasury notes, amortized cost | $ | $ 96,283,669 | $ 91,546,413 |
Cash denominated in foreign currencies, cost | $ | 19,127,491 | 21,945,775 |
Investments in U.S Treasury notes, amortized cost | $ | $ 297,207,360 | $ 408,518,267 |
Condensed Schedule of Investmen
Condensed Schedule of Investments (U.S. Treasury Notes) (Unaudited) - Millburn Multi Markets Trading L P [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.80%) | 3.62% |
U.S. Treasury notes, 2.625%, 05/15/2021 [Member[ | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Balance, Principal Amount | $ 134,580,000 | $ 152,900,000 |
Investment Owned, Percent of Net Assets | 31.41% | 27.84% |
Investment Owned, at Fair Value | $ 134,900,679 | $ 154,306,561 |
U.S. Treasury notes, 2.750%, 08/15/2021 [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Balance, Principal Amount | $ 122,400,000 | $ 153,640,000 |
Investment Owned, Percent of Net Assets | 28.76% | 28.17% |
Investment Owned, at Fair Value | $ 123,518,813 | $ 156,148,653 |
U.S. Treasury notes, 2.000%, 11/15/2021 [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Balance, Principal Amount | $ 133,640,000 | |
Investment Owned, Percent of Net Assets | 31.44% | |
Investment Owned, at Fair Value | $ 135,046,874 | |
US Treasury Notes Securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 91.61% | 90.22% |
Investment Owned, at Fair Value | $ 393,466,366 | $ 500,015,300 |
U.S. Treasury notes, 2.250%, 02/15/2021 [Member[ | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Balance, Principal Amount | $ 189,080,000 | |
Investment Owned, Percent of Net Assets | 34.21% | |
Investment Owned, at Fair Value | $ 189,560,086 |
Condensed Schedule of Investm_2
Condensed Schedule of Investments (U.S. Treasury Notes) (Unaudited) (Parenthetical) - Millburn Multi Markets Trading L P [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
U.S. Treasury notes, 2.625%, 05/15/2021 [Member[ | ||
Net Investment Income [Line Items] | ||
Investment Interest Rate | 2.00% | 2.625% |
Investment Maturity Date | Nov. 15, 2021 | May 15, 2021 |
U.S. Treasury notes, 2.750%, 08/15/2021 [Member] | ||
Net Investment Income [Line Items] | ||
Investment Interest Rate | 2.50% | 2.75% |
Investment Maturity Date | Feb. 15, 2022 | Aug. 15, 2021 |
U.S. Treasury notes, 2.000%, 11/15/2021 [Member] | ||
Net Investment Income [Line Items] | ||
Investment Interest Rate | 1.75% | |
Investment Maturity Date | May 15, 2022 | |
US Treasury Notes Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized Cost of U.S. Treasury Notes | $ 393,491,029 | $ 500,064,680 |
U.S. Treasury notes, 2.250%, 02/15/2021 [Member[ | ||
Net Investment Income [Line Items] | ||
Investment Interest Rate | 2.25% | |
Investment Maturity Date | Feb. 15, 2021 |
Condensed Schedule of Investm_3
Condensed Schedule of Investments (Futures And Forward Currency Contracts) - Millburn Multi Markets Trading L P [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.80%) | 3.62% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (3,449,688) | $ 20,058,233 |
Exchange Traded Futures Contracts Energies [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 1.16% | 0.15% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 4,964,172 | $ 819,755 |
Exchange Traded Futures Contracts Energies [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.05%) | 0.11% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 992,480 | $ 591,490 |
Exchange Traded Futures Contracts Grains [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.00%) | 0.60% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (9,210) | $ 3,317,996 |
Exchange Traded Futures Contracts Grains [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.23% | (0.06%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (210,760) | $ (347,625) |
Second Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.00% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 12,742 | |
Five Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.04% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 227,326 | |
Ten Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.04% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 201,234 | |
Thirty Year U S Treasury Note [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.02% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 85,906 | |
Other Interest Rates [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.28% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 1,560,583 | |
Interest Rate Contract [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.34%) | 0.38% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (1,448,596) | $ 2,087,791 |
Interest Rate Contract [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.00% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (25,918) | |
Exchange Traded Futures Contracts Metals [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.74%) | 1.13% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (3,161,963) | $ 6,253,013 |
Exchange Traded Futures Contracts Metals [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.44% | (0.22%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 1,856,189 | $ (1,137,354) |
Exchange Traded Futures Contracts Softs [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.05% | 0.06% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 201,441 | $ 345,995 |
Exchange Traded Futures Contracts Softs [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.01%) | (0.02%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (54,432) | $ (115,670) |
Exchange Traded Futures Contracts Stock Indices [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.47%) | 0.82% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (2,018,610) | $ 4,567,677 |
Exchange Traded Futures Contracts Stock Indices [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.01%) | 0.14% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (33,971) | $ 773,085 |
Future [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.49% | 3.09% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 2,077,484 | $ 17,117,475 |
Future [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (0.33%) | 3.14% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (1,438,376) | $ 17,392,227 |
Future [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.82% | (0.05%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 3,515,860 | $ (274,752) |
Exchange Traded Futures Contracts Livestock [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.01% | |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 34,390 | |
Exchange Traded Futures Contracts Livestock [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 0.00% | 0.00% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 10,430 | $ (12,760) |
Forward Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (1.29%) | 0.53% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (5,527,172) | $ 2,940,758 |
Forward Contracts [Member] | Long Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | (4.46%) | 2.02% |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ (19,139,123) | $ 11,186,702 |
Forward Contracts [Member] | Short Contracts [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment Owned, Percent of Net Assets | 3.17% | (1.49%) |
Investment Owned, Unrecognized Unrealized Appreciation (Depreciation), Net | $ 13,611,951 | $ (8,245,944) |
Condensed Schedule of Investm_4
Condensed Schedule of Investments (Futures And Forward Currency Contracts) (Parenthetical) - Long Contracts [Member] | 12 Months Ended |
Dec. 31, 2020Decimal | |
Second Year U S Treasury Note [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment term | 2 years |
Investment Owned, Balance, Contracts | 400 |
Investment settlement date | March 2021 |
Five Year U S Treasury Note [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment term | 5 years |
Investment Owned, Balance, Contracts | 2,390 |
Investment settlement date | March 2021 |
Ten Year U S Treasury Note [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment term | 10 years |
Investment Owned, Balance, Contracts | 1,971 |
Investment settlement date | March 2021 |
Thirty Year U S Treasury Bond [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment term | 30 years |
Investment Owned, Balance, Contracts | 556 |
Investment settlement date | March 2021 |
INVESTMENT_INVESTORS IN MILLBUR
INVESTMENT/INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P (Details) - Millburn Multi Markets Trading L P [Member] | Sep. 30, 2021 | Dec. 31, 2020 |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 87.96% | 90.89% |
Partnerships [Member] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 29.38% | 25.08% |
Cayman Feeder [Member] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 58.58% | 65.81% |
INVESTMENT_INVESTORS IN MILLB_2
INVESTMENT/INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P (Details 1) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | |
Millburn Multi Markets Trading L P [Member] | |||
Capital withdrawals payable | $ 24,349,962 | $ 54,219,673 | |
Capital withdrawal payable to General Partner | 622,309 | ||
Millburn Multi Markets Trading L P [Member] | |||
Capital withdrawals payable | 24,349,962 | 54,219,673 | |
Capital withdrawal payable to General Partner | 622,309 | ||
Millburn Multi Markets Trading L P [Member] | Direct Investor [Member] | |||
Capital withdrawals payable | [1] | 0 | 990,861 |
Millburn Multi Markets Trading L P [Member] | Partnerships [Member] | |||
Capital withdrawals payable | 505,754 | 2,272,143 | |
Millburn Multi Markets Trading L P [Member] | Cayman Feeder [Member] | |||
Capital withdrawals payable | $ 23,844,208 | $ 50,956,669 | |
[1] | Includes General Partner’s profit share of $ 622,309 |
INVESTORS IN MILLBURN MULTI-M_3
INVESTORS IN MILLBURN MULTI-MARKETS TRADING L.P. (Details Narrative) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Millburn Multi Markets Trading L P [Member] | ||
Capital withdrawals payable | $ 24,349,962 | $ 54,219,673 |
FAIR VALUE (Details)
FAIR VALUE (Details) - Millburn Multi Markets Trading L P [Member] - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Dec. 31, 2020 | |||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative Assets (Liabilities), at Fair Value, Net | $ (3,449,688) | $ 20,058,233 | ||
Fair Value, Net Asset (Liability) | 419,504,719 | 562,322,183 | ||
Investments in U.S. Treasury notes | 96,277,823 | 91,539,195 | ||
Financial Instruments, Owned, US Government and Agency Obligations, at Fair Value | 297,188,543 | 408,476,105 | ||
Financial Instruments, Owned, at Fair Value | 393,466,366 | 500,015,300 | ||
[custom:UnrealizedGainOnDerivatives] | 3,955,234 | 20,183,485 | ||
[custom:UnrealizedLossOnDerivatives] | (7,404,922) | (125,252) | ||
Unrealized Gain (Loss) on Derivatives | (3,449,688) | 20,058,233 | ||
Exchange Traded [Member] | Future [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 2,077,484 | 17,117,475 | ||
Exchange Traded [Member] | Future [Member] | Energy Related Derivative [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 4,753,412 | 1,411,245 | ||
Exchange Traded [Member] | Future [Member] | Commodity Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 983,270 | 2,970,371 | ||
Exchange Traded [Member] | Future [Member] | Interest Rate Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (492,672) | 2,061,873 | ||
Exchange Traded [Member] | Future [Member] | Livestock Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 44,820 | (12,760) | ||
Exchange Traded [Member] | Future [Member] | Metal Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (1,305,774) | 5,115,659 | ||
Exchange Traded [Member] | Future [Member] | Softs Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 147,009 | 230,325 | ||
Exchange Traded [Member] | Future [Member] | Stock Indices Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (2,052,581) | 5,340,762 | ||
Over the Counter [Member] | Forward Contracts [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative forward currency contract | (5,527,172) | 2,940,758 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative Assets (Liabilities), at Fair Value, Net | 2,077,484 | 17,117,475 | ||
Fair Value, Net Asset (Liability) | 425,031,891 | 559,381,425 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 2,077,484 | 17,117,475 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Energy Related Derivative [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 4,753,412 | 1,411,245 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Commodity Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 983,270 | 2,970,371 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Interest Rate Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (492,672) | 2,061,873 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Livestock Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 44,820 | (12,760) | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Metal Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (1,305,774) | 5,115,659 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Softs Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 147,009 | 230,325 | ||
Fair Value, Inputs, Level 1 [Member] | Exchange Traded [Member] | Future [Member] | Stock Indices Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | (2,052,581) | 5,340,762 | ||
Fair Value, Inputs, Level 1 [Member] | Over the Counter [Member] | Forward Contracts [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative forward currency contract | 0 | |||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative Assets (Liabilities), at Fair Value, Net | (5,527,172) | 2,940,758 | ||
Fair Value, Net Asset (Liability) | (5,527,172) | 2,940,758 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Energy Related Derivative [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Commodity Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Interest Rate Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Livestock Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Metal Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Softs Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Exchange Traded [Member] | Future [Member] | Stock Indices Contract [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Total exchange-traded futures contracts | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Over the Counter [Member] | Forward Contracts [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Derivative forward currency contract | (5,527,172) | 2,940,758 | ||
US Treasury Notes Securities [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | 393,466,366 | 500,015,300 | ||
US Treasury Notes Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | 393,466,366 | 500,015,300 | ||
US Treasury Notes Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | 0 | 0 | ||
Money Market Funds [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | 29,488,041 | [1] | 42,248,650 | [2] |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | 29,488,041 | [1] | 42,248,650 | [2] |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||||
Investment Owned, at Fair Value | $ 0 | [1] | $ 0 | [2] |
[1] | The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. | |||
[2] | The short-term money market fund is included in Cash and Cash Equivalents in the Statements of Financial Condition. |
DERIVATIVE INSTRUMENTS (Details
DERIVATIVE INSTRUMENTS (Details) - Millburn Multi Markets Trading L P [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | $ (3,449,688) | $ 20,058,233 |
Exchange Traded Futures Contracts Energies [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 4,753,412 | 1,411,245 |
Exchange Traded Futures Contracts Grains [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 983,270 | 2,970,371 |
Interest Rate Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (492,672) | 2,061,873 |
Exchange Traded Futures Contracts Livestock [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 44,820 | (12,760) |
Exchange Traded Futures Contracts Metals [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (1,305,774) | 5,115,659 |
Exchange Traded Futures Contracts Softs [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 147,009 | 230,325 |
Exchange Traded Futures Contracts Stock Indices [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (2,052,581) | 5,340,762 |
Future [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 2,077,484 | 17,117,475 |
Forward Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (5,527,172) | 2,940,758 |
Futures And Forward Currency Contracts Gains [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 8,412,426 | 33,706,819 |
Futures And Forward Currency Contracts Gains [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 22,378,381 | 5,594,430 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Energies [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 5,053,042 | 951,320 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Energies [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 25,470 | 854,540 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Grains [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 3,318,296 | |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Grains [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 1,417,455 | |
Futures And Forward Currency Contracts Gains [Member] | Interest Rate Contract [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 14,243 | 2,550,872 |
Futures And Forward Currency Contracts Gains [Member] | Interest Rate Contract [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 1,029,046 | |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Livestock [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 35,900 | |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Livestock [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 10,430 | 1,910 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Metals [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 862,709 | 7,202,141 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Metals [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 3,226,284 | 737,287 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Softs [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 214,210 | 346,947 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Softs [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 2,090 | |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 106,862 | 5,173,445 |
Futures And Forward Currency Contracts Gains [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 404,611 | 795,375 |
Futures And Forward Currency Contracts Gains [Member] | Future [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 6,286,966 | 19,543,021 |
Futures And Forward Currency Contracts Gains [Member] | Future [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 6,113,296 | 2,391,202 |
Futures And Forward Currency Contracts Gains [Member] | Forward Contracts [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 2,125,460 | 14,163,798 |
Futures And Forward Currency Contracts Gains [Member] | Forward Contracts [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | 16,265,085 | 3,203,228 |
Futures And Forward Currency Contracts Losses [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (28,989,925) | (5,127,890) |
Futures And Forward Currency Contracts Losses [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (5,250,570) | (14,115,126) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Energies [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (88,870) | (131,565) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Energies [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (236,230) | (263,050) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Grains [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (9,210) | (300) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Grains [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (424,975) | (347,625) |
Futures And Forward Currency Contracts Losses [Member] | Interest Rate Contract [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (1,462,839) | (463,081) |
Futures And Forward Currency Contracts Losses [Member] | Interest Rate Contract [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (73,122) | (25,918) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Livestock [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (1,510) | |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Livestock [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (14,670) | |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Metals [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (4,024,672) | (949,128) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Metals [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (1,370,095) | (1,874,641) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Softs [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (12,769) | (952) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Softs [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (54,432) | (117,760) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (2,125,472) | (605,768) |
Futures And Forward Currency Contracts Losses [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (438,582) | (22,290) |
Futures And Forward Currency Contracts Losses [Member] | Future [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (7,725,342) | (2,150,794) |
Futures And Forward Currency Contracts Losses [Member] | Future [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (2,597,436) | (2,665,954) |
Futures And Forward Currency Contracts Losses [Member] | Forward Contracts [Member] | Long [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | (21,264,583) | (2,977,096) |
Futures And Forward Currency Contracts Losses [Member] | Forward Contracts [Member] | Short [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets (Liabilities), at Fair Value, Net | $ (2,653,134) | $ (11,449,172) |
DERIVATIVE INSTRUMENTS (Detai_2
DERIVATIVE INSTRUMENTS (Details 1) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | $ 858,209 | |||
Millburn Multi Markets Trading L P [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (28,843,619) | $ 31,851,519 | $ 34,702,934 | $ (113,676,934) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Energies [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | 3,152,244 | 3,755,596 | 23,708,484 | 38,622,323 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Grains [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (2,756,806) | 2,665,340 | (2,222,408) | |
Millburn Multi Markets Trading L P [Member] | Interest Rate Contract [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (8,169,527) | (11,243,708) | (10,590,727) | (11,545,189) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Livestock [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (55,930) | 349,200 | (585,010) | 1,101,830 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Metals [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (2,670,251) | 3,466,841 | 2,350,604 | (5,805,613) |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Softs [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | 50,062 | 23,463 | (1,945,195) | 1,041,892 |
Millburn Multi Markets Trading L P [Member] | Exchange Traded Futures Contracts Stock Indices [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (10,246,001) | 23,781,674 | 40,585,651 | (158,123,044) |
Millburn Multi Markets Trading L P [Member] | Future [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | (17,081,194) | 17,376,260 | 56,189,147 | (136,930,209) |
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Trading Gain (Loss) | $ (11,762,425) | $ 14,475,259 | $ (21,486,213) | $ 23,253,275 |
DERIVATIVE INSTRUMENTS (Detai_3
DERIVATIVE INSTRUMENTS (Details 2) - Millburn Multi Markets Trading L P [Member] | 9 Months Ended | |
Sep. 30, 2021USD ($)Decimal | Sep. 30, 2020USD ($)Decimal | |
Monthly average number of futures contracts bought | 79,295 | 104,534 |
Average sold | 84,064 | 103,187 |
Average notional | $ | $ 10,024,000,000 | $ 8,746,000,000 |
DERIVATIVE INSTRUMENTS (Detai_4
DERIVATIVE INSTRUMENTS (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Dec. 31, 2020 | ||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Credit risk | $ 55,869,829 | $ 47,021,416 | |||
Millburn Multi Markets Trading L P [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 30,328,549 | ||||
Derivative Liability, Fair Value, Gross Asset | (10,145,064) | ||||
Derivative Asset | 3,955,234 | 20,183,485 | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 9,097,952 | ||||
Derivative Liability, Fair Value, Gross Liability | (8,972,700) | ||||
Derivative Liability | 7,404,922 | 125,252 | |||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (3,955,234) | [1],[2] | (17,117,475) | [3],[4] | |
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [5] | 3,066,010 | [6] | ||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 3,955,234 | [1],[2] | 17,117,475 | [3],[4] | |
Financial instruments liabilities | |||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 7,404,922 | [1],[2] | (125,252) | [3],[4] | |
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [7] | ||||
Millburn Multi Markets Trading L P [Member] | Counterparty C [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset | 1,877,750 | 6,579,413 | |||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (1,877,750) | [1],[2] | (6,579,413) | [3],[4] | |
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [8] | [6] | |||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 1,877,750 | [1],[2] | 6,579,413 | [3],[4] | |
Millburn Multi Markets Trading L P [Member] | Counterparty L [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset | 2,017,703 | 8,654,404 | |||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (2,017,703) | [1],[2] | (8,654,404) | [3],[4] | |
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [5] | [6] | |||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 2,017,703 | [1],[2] | 8,654,404 | [3],[4] | |
Millburn Multi Markets Trading L P [Member] | Counterparty G [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset | 3,017,489 | 3,066,010 | |||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (3,017,489) | [1],[2] | [3],[4] | ||
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [8] | 3,066,010 | [6] | ||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 3,017,489 | [1],[2] | [3],[4] | ||
Millburn Multi Markets Trading L P [Member] | Counterparty K [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset | 2,509,683 | ||||
Derivative Liability | 125,252 | ||||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | [1],[2] | (2,509,683) | |||
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [8] | ||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | [1],[2] | 2,509,683 | |||
Financial instruments liabilities | |||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | [3],[4] | (125,252) | |||
Derivative Liability, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [7] | ||||
Millburn Multi Markets Trading L P [Member] | Counterparty J [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset | 1,937,531 | 1,883,658 | |||
Financial Instruments | |||||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (1,937,531) | [1],[2] | (1,883,658) | [3],[4] | |
Derivative Asset, Fair Value, Offset Against Collateral, Net of Not Subject to Master Netting Arrangement, Policy Election | [5] | [6] | |||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 1,937,531 | [1],[2] | 1,883,658 | [3],[4] | |
Millburn Multi Markets Trading L P [Member] | Future [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 11,814,499 | 21,934,223 | |||
Derivative Liability, Fair Value, Gross Asset | (7,859,265) | (4,816,748) | |||
Derivative Asset | 3,955,234 | 17,117,475 | |||
Millburn Multi Markets Trading L P [Member] | Future [Member] | Counterparty C [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2,634,111 | 7,424,604 | |||
Derivative Liability, Fair Value, Gross Asset | (696,580) | (845,191) | |||
Derivative Asset | 1,937,531 | 6,579,413 | |||
Millburn Multi Markets Trading L P [Member] | Future [Member] | Counterparty L [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 9,180,388 | 12,430,044 | |||
Derivative Liability, Fair Value, Gross Asset | (7,162,685) | (3,775,640) | |||
Derivative Asset | 2,017,703 | 8,654,404 | |||
Millburn Multi Markets Trading L P [Member] | Future [Member] | Counterparty J [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 2,079,575 | ||||
Derivative Liability, Fair Value, Gross Asset | (195,917) | ||||
Derivative Asset | 1,883,658 | ||||
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 26,381,230 | ||||
Derivative Liability, Fair Value, Gross Liability | (18,976,308) | ||||
Derivative Liability | 7,404,922 | ||||
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Counterparty C [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 2,463,513 | ||||
Derivative Liability, Fair Value, Gross Liability | (585,763) | ||||
Derivative Liability | 1,877,750 | ||||
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Counterparty G [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement | 8,394,326 | ||||
Derivative Liability, Fair Value, Gross Asset | (5,328,316) | ||||
Derivative Asset | 3,066,010 | ||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 8,022,529 | ||||
Derivative Liability, Fair Value, Gross Liability | (5,005,040) | ||||
Derivative Liability | 3,017,489 | ||||
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Counterparty K [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 15,895,188 | 9,097,952 | |||
Derivative Liability, Fair Value, Gross Liability | (13,385,505) | (8,972,700) | |||
Derivative Liability | 2,509,683 | $ 125,252 | |||
Millburn Multi Markets Trading L P [Member] | Forward Contracts [Member] | Forward Currency Contracts [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 23,917,717 | ||||
Derivative Liability, Fair Value, Gross Liability | (18,390,545) | ||||
Derivative Liability | $ 5,527,172 | ||||
[1] | Collateral disclosed is limited to an amount not to exceed 100% of the net amount of liabilities presented in the | ||||
[2] | Collateral received includes trades made on exchanges. These trades are subject to central counterparty clearing where | ||||
[3] | Collateral disclosed is limited to an amount not to exceed 100% of the net amount of liabilities presented in the Statement | ||||
[4] | Collateral received includes trades made on exchanges. These trades are subject to central counterparty clearing where | ||||
[5] | Net amount represents the amount that is subject to loss in the event of a counterparty failure as of September 30, 2021. | ||||
[6] | Net amount represents the amount that is subject to loss in the event of a counterparty failure as of December 31, 2020. | ||||
[7] | Net amount represents the amounts owed by the Master Fund to each counterparty as of December 31, 2020. | ||||
[8] | Net amount represents the amounts owed by the Master Fund to each counterparty as of September 30, 2021. |
PROFIT SHARE (Details)
PROFIT SHARE (Details) - Millburn Multi Markets Trading L P [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Profit share earned | $ 11,307 | $ 0 | $ 208,863 | $ 0 | |
[custom:ReversalOfProfitShare] | [1] | (1,318,781) | (32,583) | ||
Profit share accrued | 393,293 | 105,482 | 393,293 | 105,482 | |
[custom:LessProfitShareToGeneralPartner] | $ (914,181) | $ 72,899 | $ 602,156 | $ 105,482 | |
[1] | Reversal of profit share occurs on July 1st |
FINANCIAL HIGHLIGHTS (Details N
FINANCIAL HIGHLIGHTS (Details Narrative) - Millburn Multi Markets Trading L P [Member] | 9 Months Ended |
Sep. 30, 2021 | |
Monthly management fee charges description | 1.75% (1.75% per annum) |
Management fee percentage per annum | 20.00% |
Trading profits percent included in computing ratios to average capital | 1.75% |