Altegris QIM Futures Fund 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document And Entity Information
Entity Registrant Name	Altegris QIM Futures Fund, L.P.
Entity Central Index Key	1,469,317
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

STATEMENTS OF FINANCIAL CONDITI

STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Equity in commodity broker account:
Cash	$ 1,662,753	$ 1,708,036
Restricted Cash	2,493,828	1,119,921
Restricted foreign currency (cost - $2,365,285 and $871,601)	2,354,949	$ 846,214
Unrealized gain on open commodity futures contracts	321,437
Total equity in commodity broker account	6,832,967	$ 3,674,171
Cash	8,494,892	6,229,433
Investment securities at value (cost - $13,431,446 and $35,270,474)	13,431,995	35,264,837
Interest receivable	1,659	14,558
Total assets	28,761,513	45,182,999
Equity in commodity broker account:
Foreign currency due to broker (proceeds - $2,376,237 and $875,134)	$ 2,365,853	849,644
Unrealized loss on open commodity futures contracts		31,586
Total	$ 2,365,853	881,230
Redemptions payable	1,009,994	$ 3,684,626
Subscriptions received in advance	50,000
Incentive fees payable	33,346
Service fees payable	30,730	$ 43,629
Management fee payable	25,432	45,585
Brokerage Commissions payable	16,706	30,959
Administrative fee payable	6,489	11,126
Other liabilities	129,665	138,117
Total liabilities	3,668,215	4,835,272
PARTNERS' CAPITAL (NET ASSET VALUE)
General Partner	792	698
Limited Partners	25,092,506	40,347,029
Total partners' capital (Net Asset Value)	25,093,298	40,347,727
Total liabilities and partners' capital	$ 28,761,513	$ 45,182,999

STATEMENTS OF FINANCIAL CONDIT3

STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Cost of restricted foreign currency equity in commodity broker account	$ 2,365,285	$ 871,601
Investment securities at cost	13,431,446	35,270,474
Proceeds of foreign currency liabilities in commodity broker account	$ 2,376,237	$ 875,134

CONDENSED SCHEDULE OF INVESTMEN

CONDENSED SCHEDULE OF INVESTMENTS - September 30, 2015 - USD ($)		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Value		$ 13,431,995	$ 35,264,837
% of Partners Capital		53.53%
At Cost		$ 13,431,446	35,270,474
Fixed Income Investments
Value		$ 13,431,995	$ 35,264,837
% of Partners Capital		53.53%	87.40%
At Cost		$ 13,431,446	$ 35,270,474
Fixed Income Investments | U.S. Government Agency Bonds and Notes
Value		$ 8,702,325	$ 20,865,775
% of Partners Capital		34.68%	51.71%
At Cost		$ 8,701,776	$ 20,871,412
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank Disc Note,0.07%
Face Value		1,500,000
Value		$ 1,499,868
% of Partners Capital		5.98%
Maturity Date		Nov. 18, 2015
Interest Rate/Yield	[1]	0.07%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank Disc Note,0.11%
Face Value		$ 500,000
Value		$ 499,892
% of Partners Capital		1.99%
Maturity Date		Dec. 11, 2015
Interest Rate/Yield	[1]	0.11%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank Disc Note,0.17%
Face Value		$ 800,000
Value		$ 799,475
% of Partners Capital		3.19%
Maturity Date		Feb. 16, 2015
Interest Rate/Yield	[1]	0.17%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.20%
Face Value		$ 1,200,000
Value		$ 1,200,183
% of Partners Capital		4.78%
Maturity Date		Dec. 1, 2015
Interest Rate/Yield		0.20%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.13%
Face Value		$ 1,200,000
Value		$ 1,199,761
% of Partners Capital		4.78%
Maturity Date		Dec. 8, 2015
Interest Rate/Yield		0.13%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.38%
Face Value		$ 650,000
Value		$ 650,146
% of Partners Capital		2.59%
Maturity Date		Feb. 19, 2016
Interest Rate/Yield		0.38%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Mortgage Corp Disc Note, 0.00%
Face Value		$ 2,853,000
Value		$ 2,853,000
% of Partners Capital		11.37%
Maturity Date		Oct. 1, 2015
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments | Corporate Notes
Value		$ 4,729,670	$ 14,399,062
% of Partners Capital		18.85%	35.69%
At Cost		$ 4,729,670	$ 14,399,062
Fixed Income Investments | Corporate Notes | The Chiba Bank Ltd, 0.24%
Face Value		410,000
Value		$ 410,000
% of Partners Capital		1.63%
Maturity Date		Oct. 16, 2015
Interest Rate/Yield		0.24%
Fixed Income Investments | Corporate Notes | DCAT LLC, 0.31%
Face Value		$ 270,000
Value		$ 269,957
% of Partners Capital		1.08%
Maturity Date		Oct. 7, 2015
Interest Rate/Yield	[1]	0.31%
Fixed Income Investments | Corporate Notes | Exxon Mobil Corp, 0.17%
Face Value		$ 540,000
Value		$ 539,959
% of Partners Capital		2.15%
Maturity Date		Oct. 2, 2015
Interest Rate/Yield	[1]	0.17%
Fixed Income Investments | Corporate Notes | Gotham Funding Corp, 0.22%
Face Value		$ 400,000
Value		$ 399,948
% of Partners Capital		1.59%
Maturity Date		Oct. 20, 2015
Interest Rate/Yield	[1]	0.22%
Fixed Income Investments | Corporate Notes | National Rural Utilities Cooperative Finance Corp, 0.17%
Face Value		$ 270,000
Value		$ 269,973
% of Partners Capital		1.08%
Maturity Date		Oct. 23, 2015
Interest Rate/Yield	[1]	0.17%
Fixed Income Investments | Corporate Notes | Norinchukin Bank Disc Note, 0.18%
Face Value		$ 410,000
Value		$ 410,000
% of Partners Capital		1.64%
Maturity Date		Oct. 23, 2015
Interest Rate/Yield		0.18%
Fixed Income Investments | Corporate Notes | PACCAR Financial Corp, 0.15%
Face Value		$ 400,000
Value		$ 399,972
% of Partners Capital		1.60%
Maturity Date		Oct. 14, 2015
Interest Rate/Yield	[1]	0.15%
Fixed Income Investments | Corporate Notes | The Shizuoka Bank Ltd, 0.24%
Face Value		$ 270,000
Value		$ 270,000
% of Partners Capital		1.08%
Maturity Date		Oct. 22, 2015
Interest Rate/Yield		0.24%
Fixed Income Investments | Corporate Notes | Sumitomo Mutsui Banking Co, 0.19%
Face Value		$ 410,000
Value		$ 410,000
% of Partners Capital		1.63%
Maturity Date		Oct. 8, 2015
Interest Rate/Yield		0.19%
Fixed Income Investments | Corporate Notes | Sumitomo Mutsui Trust & Banking Co, 0.17%
Face Value		$ 410,000
Value		$ 410,000
% of Partners Capital		1.63%
Maturity Date		Oct. 30, 2015
Interest Rate/Yield		0.17%
Fixed Income Investments | Corporate Notes | Toronto-Dominion Bank New York, 0.19%
Face Value		$ 540,000
Value		$ 539,928
% of Partners Capital		2.15%
Maturity Date		Oct. 2, 2015
Interest Rate/Yield	[1]	0.19%
Fixed Income Investments | Corporate Notes | Working Capital Management Co LP Disc Note, 0.26%
Face Value		$ 400,000
Value		$ 399,933
% of Partners Capital		1.59%
Maturity Date		Oct. 2, 2015
Interest Rate/Yield	[1]	0.26%
[1]	The rate reported is the effective yield at time of purchase.

CONDENSED SCHEDULE OF INVESTME5

CONDENSED SCHEDULE OF INVESTMENTS - December 31, 2014 - USD ($)		12 Months Ended
		Dec. 31, 2014	Sep. 30, 2015
Value		$ 35,264,837	$ 13,431,995
% of Partners Capital			53.53%
At Cost		35,270,474	$ 13,431,446
Fixed Income Investments
Value		$ 35,264,837	$ 13,431,995
% of Partners Capital		87.40%	53.53%
At Cost		$ 35,270,474	$ 13,431,446
Fixed Income Investments | U.S. Government Agency Bonds and Notes
Value		$ 20,865,775	$ 8,702,325
% of Partners Capital		51.71%	34.68%
At Cost		$ 20,871,412	$ 8,701,776
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Farm Credit Bank Disc Note,0.01%
Face Value		2,417,000
Value		$ 2,416,999
% of Partners Capital		5.99%
Maturity Date		Jan. 2, 2015
Interest Rate/Yield	[1]	0.01%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank Disc Note, 0.018%
Face Value		$ 3,050,000
Value		$ 3,049,976
% of Partners Capital		7.56%
Maturity Date		Jan. 16, 2015
Interest Rate/Yield	[1]	0.018%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank,0.13%
Face Value		$ 2,500,000
Value		$ 2,499,633
% of Partners Capital		6.19%
Maturity Date		Mar. 20, 2015
Interest Rate/Yield		0.13%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.20%
Face Value		$ 2,000,000
Value		$ 1,999,648
% of Partners Capital		4.96%
Maturity Date		Aug. 19, 2015
Interest Rate/Yield		0.20%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.20% 1
Face Value		$ 1,500,000
Value		$ 1,499,131
% of Partners Capital		3.71%
Maturity Date		Sep. 18, 2015
Interest Rate/Yield		0.20%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.20% 2
Face Value		$ 1,200,000
Value		$ 1,198,553
% of Partners Capital		2.97%
Maturity Date		Dec. 1, 2015
Interest Rate/Yield		0.20%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.13% 1
Face Value		$ 1,200,000
Value		$ 1,196,986
% of Partners Capital		2.97%
Maturity Date		Dec. 8, 2015
Interest Rate/Yield		0.13%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Bank, 0.25%
Face Value		$ 2,000,000
Value		$ 2,000,052
% of Partners Capital		4.96%
Maturity Date		Jan. 16, 2015
Interest Rate/Yield		0.25%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal Home Loan Mortgage Corp, 0.50%
Face Value		$ 2,000,000
Value		$ 2,003,500
% of Partners Capital		4.96%
Maturity Date		Aug. 28, 2015
Interest Rate/Yield		0.50%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal National Mort Assoc Disc Note, 0.14%
Face Value		$ 1,000,000
Value		$ 999,625
% of Partners Capital		2.48%
Maturity Date		Jun. 1, 2015
Interest Rate/Yield	[1]	0.14%
Fixed Income Investments | U.S. Government Agency Bonds and Notes | Federal National Mortgage Association, 0.50%
Face Value		$ 2,000,000
Value		$ 2,001,672
% of Partners Capital		4.96%
Maturity Date		Jul. 2, 2015
Interest Rate/Yield		0.50%
Fixed Income Investments | Corporate Notes
Value		$ 14,399,062	$ 4,729,670
% of Partners Capital		35.69%	18.85%
At Cost		$ 14,399,062	$ 4,729,670
Fixed Income Investments | Corporate Notes | Bank of Montreal, 0.10%
Face Value		1,000,000
Value		$ 1,000,000
% of Partners Capital		2.48%
Maturity Date		Jan. 2, 2015
Interest Rate/Yield		0.10%
Fixed Income Investments | Corporate Notes | Exxon Mobile Corp Disc Note, 0.09%
Face Value		$ 1,400,000
Value		$ 1,399,893
% of Partners Capital		3.47%
Maturity Date		Jan. 9, 2015
Interest Rate/Yield	[1]	0.09%
Fixed Income Investments | Corporate Notes | General Electric Capital Corp Disc Note, 0.07%
Face Value		$ 1,400,000
Value		$ 1,399,903
% of Partners Capital		3.47%
Maturity Date		Jan. 9, 2015
Interest Rate/Yield	[1]	0.07%
Fixed Income Investments | Corporate Notes | Johnson & Johnson, 0.07%
Face Value		$ 1,600,000
Value		$ 1,599,916
% of Partners Capital		3.97%
Maturity Date		Jan. 5, 2015
Interest Rate/Yield	[1]	0.07%
Fixed Income Investments | Corporate Notes | Liberty Street Funding LLC, 0.16%
Face Value		$ 1,000,000
Value		$ 999,887
% of Partners Capital		2.48%
Maturity Date		Jan. 14, 2015
Interest Rate/Yield	[1]	0.16%
Fixed Income Investments | Corporate Notes | National Rural Utilities Cooperative Finance Corp, 0.13%
Face Value		$ 700,000
Value		$ 699,921
% of Partners Capital		1.73%
Maturity Date		Jan. 14, 2015
Interest Rate/Yield	[1]	0.13%
Fixed Income Investments | Corporate Notes | Norinchukin Bank Disc Note, 0.17%
Face Value		$ 1,000,000
Value		$ 1,000,000
% of Partners Capital		2.48%
Maturity Date		Jan. 29, 2015
Interest Rate/Yield		0.17%
Fixed Income Investments | Corporate Notes | Scotia Holdings (US) Inc., 0.13%
Face Value		$ 250,000
Value		$ 249,976
% of Partners Capital		0.62%
Maturity Date		Jan. 9, 2015
Interest Rate/Yield	[1]	0.13%
Fixed Income Investments | Corporate Notes | Shizuoka Bank, 0.19%
Face Value		$ 800,000
Value		$ 800,000
% of Partners Capital		1.98%
Maturity Date		Jan. 6, 2015
Interest Rate/Yield		0.19%
Fixed Income Investments | Corporate Notes | Sumitomo Mutsui Banking Co Disc Note, 0.16%
Face Value		$ 1,650,000
Value		$ 1,650,000
% of Partners Capital		4.09%
Maturity Date		Jan. 2, 2015
Interest Rate/Yield		0.16%
Fixed Income Investments | Corporate Notes | Toronto-Dominion Holdings, 0.09%
Face Value		$ 1,400,000
Value		$ 1,399,847
% of Partners Capital		3.47%
Maturity Date		Jan. 16, 2015
Interest Rate/Yield	[1]	0.09%
Fixed Income Investments | Corporate Notes | Victory Receivables Corp, 0.13%
Face Value		$ 1,200,000
Value		$ 1,199,840
% of Partners Capital		2.97%
Maturity Date		Jan. 8, 2015
Interest Rate/Yield	[1]	0.13%
Fixed Income Investments | Corporate Notes | Working Capital Management Co LP Disc Note, 0.10%
Face Value		$ 1,000,000
Value		$ 999,879
% of Partners Capital		2.48%
Maturity Date		Jan. 2, 2015
Interest Rate/Yield	[1]	0.10%
[1]	The rate reported is the effective yield at time of purchase.

CONDENSED SCHEDULE OF INVESTME6

CONDENSED SCHEDULE OF INVESTMENTS - Futures Contracts	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)Integer	Dec. 31, 2014USD ($)Integer
Value	$ 13,431,995	$ 35,264,837
% of Partners Capital	53.53%
Futures Contracts
Number of Contracts | Integer	544	256
Value	$ 321,437	$ (31,586)
% of Partners Capital	1.28%	(0.08%)
Futures Contracts | Short Futures Contracts
Number of Contracts | Integer	142	177
Value	$ 110,473	$ (33,000)
% of Partners Capital	0.44%	(0.08%)
Futures Contracts | Short Futures Contracts | Currencies
Number of Contracts | Integer	25	7
Value	$ 11,434	$ 736
% of Partners Capital	0.05%	0.00%
Expiration Dates	Dec. 1, 2015	Mar. 1, 2015
Futures Contracts | Short Futures Contracts | Energy
Number of Contracts | Integer	8	2
Value	$ 7,157	$ 2,581
% of Partners Capital	0.03%	0.01%
Expiration Dates	Oct. 1, 2015	Jan. 1, 2015
Futures Contracts | Short Futures Contracts | Interest Rates
Number of Contracts | Integer		29
Value		$ (21,637)
% of Partners Capital		(0.05%)
Expiration Dates		Mar. 1, 2015
Futures Contracts | Short Futures Contracts | Metals
Number of Contracts | Integer	9
Value	$ 13,337
% of Partners Capital	0.05%
Expiration Dates	Dec. 1, 2015
Futures Contracts | Short Futures Contracts | Stock Indices
Number of Contracts | Integer	100	137
Value	$ 78,545	$ (14,423)
% of Partners Capital	0.31%	(0.04%)
Expiration Dates, Lower Range	Oct. 1, 2015	Jan. 1, 2015
Expiration Dates, Upper Range	Dec. 1, 2015	Mar. 1, 2015
Futures Contracts | Short Futures Contracts | Treasury Rates
Number of Contracts | Integer		2
Value		$ (257)
% of Partners Capital		0.00%
Expiration Dates		Mar. 1, 2015
Futures Contracts | Long Futures Contracts
Number of Contracts | Integer	402	79
Value	$ 210,964	$ 1,414
% of Partners Capital	0.84%	0.00%
Futures Contracts | Long Futures Contracts | Currencies
Number of Contracts | Integer	21	14
Value	$ (142)	$ 1,812
% of Partners Capital	0.00%	0.00%
Expiration Dates	Dec. 1, 2015	Mar. 1, 2015
Futures Contracts | Long Futures Contracts | Energy
Number of Contracts | Integer	25	34
Value	$ 1,183	$ (5,901)
% of Partners Capital	0.00%	(0.02%)
Expiration Dates, Lower Range		Jan. 1, 2015
Expiration Dates, Upper Range		Feb. 1, 2015
Expiration Dates	Oct. 1, 2015
Futures Contracts | Long Futures Contracts | Interest Rates
Number of Contracts | Integer	115	6
Value	$ 79,040	$ 7,949
% of Partners Capital	0.32%	0.02%
Expiration Dates	Dec. 1, 2015	Mar. 1, 2015
Futures Contracts | Long Futures Contracts | Stock Indices
Number of Contracts | Integer	79	6
Value	$ (4,457)	$ (714)
% of Partners Capital	(0.02%)	(0.00%)
Expiration Dates, Lower Range	Oct. 1, 2015
Expiration Dates, Upper Range	Dec. 1, 2015
Expiration Dates		Jan. 1, 2015
Futures Contracts | Long Futures Contracts | Treasury Rates
Number of Contracts | Integer	162	19
Value	$ 135,340	$ (1,732)
% of Partners Capital	0.54%	0.00%
Expiration Dates	Dec. 1, 2015	Mar. 1, 2015

STATEMENTS OF INCOME (LOSS)

STATEMENTS OF INCOME (LOSS) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gain (loss) on trading of commodity futures
Realized	$ 1,388,698	$ 400,111	$ 4,636,808	$ (3,188,245)
Change in unrealized	277,397	(204,678)	353,023	(1,046,397)
Brokerage Commissions	(98,144)	(216,660)	(349,694)	(762,285)
Gain (loss) from trading futures	1,567,951	(21,227)	4,640,137	(4,996,927)
Gain (loss) on trading of securities
Realized	1,254	2,656	5,523	7,341
Change in unrealized	590	1,303	6,186	(526)
Gain (loss) from trading securities	1,844	3,959	11,709	6,815
Gain (loss) on trading of foreign currency
Realized	(12,527)	(9,041)	(25,578)	5,335
Change in unrealized	324	(2,652)	(55)	(2,400)
Gain (loss) from trading foreign currency	(12,203)	(11,693)	(25,633)	2,935
Total trading gain (loss)	1,557,592	(28,961)	4,626,213	(4,987,177)
Income
Interest income	5,802	12,342	22,673	45,256
Expenses
Management fee	80,105	170,434	282,394	599,255
Service fees	79,152	147,803	274,100	505,678
Professional fees	54,014	73,142	170,406	238,484
Administrative fee	20,482	40,988	70,982	143,953
Incentive fees	33,346	4,339	44,852	5,124
Interest expense	13,755	99	29,952	555
Other expenses	2,362	47,195	81,656	118,715
Total expenses	283,216	484,000	954,342	1,611,764
Net investment loss	(277,414)	(471,658)	(931,669)	(1,566,508)
NET INCOME (LOSS)	$ 1,280,178	$ (500,619)	$ 3,694,544	$ (6,553,685)

STATEMENTS OF CHANGES IN PARTNE

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (NET ASSET VALUE) (Unaudited) - USD ($)	Total	Class A	Class B	Institutional Interests	General Partner
Balances at Dec. 31, 2013	$ 82,855,113	$ 39,149,821	$ 29,758,386	$ 13,946,064	$ 842
Transfers	0	(91,271)	(3,310)	94,581
Capital additions	1,787,052	1,237,385	399,667	150,000
Capital withdrawals	(24,887,533)	(8,246,620)	(9,636,078)	(7,004,835)
Net investment loss	(1,566,508)	(1,070,994)	(395,832)	(99,657)	$ (25)
Net realized gain from investments (net of brokerage commissions)	(3,937,854)	(2,015,392)	(1,435,905)	(486,511)	(46)
Net change in unrealized gain from investments	(1,049,323)	(513,610)	(374,732)	(160,969)	(12)
Net loss	(6,553,685)	(3,599,996)	(2,206,469)	(747,137)	(83)
Balances at Sep. 30, 2014	53,200,947	28,449,319	18,312,196	6,438,673	759
Balances at Dec. 31, 2014	$ 40,347,727	$ 22,069,532	$ 13,349,109	$ 4,928,388	$ 698
Transfers
Capital additions	$ 435,329	$ 200,820	$ 234,509
Capital withdrawals	(19,384,302)	(8,956,923)	(6,709,684)	$ (3,717,695)
Net investment loss	(931,669)	(664,576)	(231,122)	(35,945)	$ (26)
Net realized gain from investments (net of brokerage commissions)	4,267,059	2,573,408	1,473,177	220,362	112
Net change in unrealized gain from investments	359,154	207,388	122,809	28,949	8
Net loss	3,694,544	2,116,220	1,364,864	213,366	94
Balances at Sep. 30, 2015	$ 25,093,298	$ 15,429,649	$ 8,238,798	$ 1,424,059	$ 792

1. ORGANIZATION AND SIGNIFICANT

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES A. General Description of the Partnership Altegris QIM Futures Fund, L.P. (“Partnership”) was organized as a Delaware limited partnership in June 2009. The Partnership's general partner is Altegris Advisors, L.L.C. (“General Partner”). The Partnership speculatively trades commodity futures contracts, and may trade options on futures contracts, forward contracts and other commodity interests. The objective of the Partnership’s business is appreciation of its assets. It is subject to the regulations of the Commodity Futures Trading Commission (the “CFTC”), an agency of the United States (“U.S.”) government that regulates most aspects of the commodity futures industry; rules of the National Futures Association, an industry self-regulatory organization; and the requirements of commodity exchanges and futures commission merchants (brokers) through which the Partnership trades. B. Method of Reporting The Partnership’s financial statements are presented in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Therefore, the Partnership follows the accounting and reporting guidelines for investment companies. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported fair value of assets and liabilities, disclosures of contingent assets and liabilities as of September 30, 2015 and December 31, 2014, and reported amounts of income and expenses for the three and nine months ended September 30, 2015 and 2014, respectively. Management believes that the estimates utilized in preparing the Partnership’s financial statements are reasonable; however, actual results could differ from these estimates and it is reasonably possible that the differences could be material. The financial information included herein is unaudited; however, such financial information reflects all adjustments which are, in the opinion of management, necessary for the fair presentation of the financial statements for the interim period. C. Fair Value In accordance with the authoritative guidance under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Partnership uses various valuation approaches. The authoritative guidance under U.S. GAAP establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Partnership. Unobservable inputs reflect the Partnership’s assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Partnership has the ability to access at the measurement date; Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity). The availability of valuation techniques and observable inputs can vary among assets and liabilities and is affected by a wide variety of factors, including the type of asset or liability, whether the asset or liability is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the asset or liability existed. Accordingly, the degree of judgment exercised by the Partnership in determining fair value is greatest for assets and liabilities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Partnership’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Partnership uses prices and inputs that are current as of the measurement date, including prices and inputs during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many assets and liabilities. This condition could cause an asset or liability to be reclassified to a lower level within the fair value hierarchy. The Partnership values futures contracts at the closing price of the contract’s primary exchange. The Partnership includes futures contracts in Level 1 of the fair value hierarchy, as they are exchange traded derivatives. The fair value of U.S. government agency bonds and notes is generally based on quoted prices in active markets. When quoted prices are not available, fair value is determined based on a valuation model that uses inputs which include interest-rate yield curves, cross-currency-basis index spreads, and country credit spreads similar to the bond in terms of issue, maturity and seniority. U.S. government agency bonds and notes are categorized in Level 1 or Level 2 of the fair value hierarchy. As of September 30, 2015 and December 31, 2014, none of the Partnership’s holdings in U.S. government agency bonds and notes were fair valued using valuation models. The fair value of U.S. treasury obligations is generally based on quoted prices in active markets. U.S. treasury obligations are categorized in Level 1 of the fair value hierarchy. The fair value of corporate notes is determined using recently executed transactions, market price quotations (where observable), notes spreads or credit default swap spreads. The spread data used are for the same maturity as that of the notes. If the spread data does not reference the issuer, data that references a comparable issuer is used. When observable price quotations are not available, fair value is determined based on cash flow models with yield curves, notes, or single-name credit default swap spreads and recovery rates based on collateral values as key inputs. These valuation methods represent both a market and income approach to fair value measurement. Corporate notes are categorized in Level 2 of the fair value hierarchy; however, in instances where significant inputs are unobservable, they are categorized in Level 3 of the hierarchy. As of September 30, 2015 and December 31, 2014, none of the Partnership’s holdings in corporate notes were fair valued using valuation models. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. There were no changes in the Partnership’s valuation methodology during the periods ended September 30, 2015 and December 31, 2014. The following table presents information about the Partnership’s assets and liabilities measured at fair value as of September 30, 2015 and December 31, 2014: Balance as of September 30, 2015 Level 1 Level 2 Level 3 September 30, 2015 Assets Future contracts (1) $ 351,711 $ - $ - $ 351,711 U.S. Government agency bonds and notes 8,702,325 - - 8,702,325 Corporate notes - 4,729,670 - 4,729,670 Total Assets $ 9,054,036 $ 4,729,670 $ - $ 13,783,706 Liabilities Futures contracts (1) $ (30,274) $ - $ - $ (30,274) Balance as of December 31, 2014 Level 1 Level 2 Level 3 December 31, 2014 Assets Futures contracts (1) $ 50,035 $ - $ - $ 50,035 U.S. Government agency bonds and notes 20,865,775 - - 20,865,775 Corporate notes - 14,399,062 - 14,399,062 Total Assets $ 20,915,810 $ 14,399,062 $ - $ 35,314,872 Liabilities Futures contracts (1) $ (81,621) $ - $ - $ (81,621) (1) See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category. For the nine month period ended September 30, 2015 and the year ended December 31, 2014, there were no transfers between Level 1 and Level 2 assets and liabilities. For the nine month period ended September 30, 2015 and the year ended December 31, 2014, there were no Level 3 securities. D. Investment Transactions and Investment Income Security transactions are recorded on the trade date for financial reporting purposes. Realized gains and losses from security transactions are determined using the specific identification cost method. Change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss). Brokerage commissions on securities and other trading fees are reflected as an adjustment to cost or proceeds at the time of the transaction. Interest income is recorded on an accrual basis. Gains or losses on futures contracts are realized when contracts are closed. Net unrealized gains or losses on open contracts (the difference between contract trade price and quoted market price) are reflected in the Statements of Financial Condition. Any change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss). Brokerage commissions on futures contracts include other trading fees and are incurred as an expense when contracts are opened, and are recognized as trading gains and losses. Net realized gains and losses from foreign currency related transactions represent gains and losses from sales of foreign currencies, sales and maturities of foreign currency forward contracts, currency gains and losses realized between trade and settlement dates on securities transactions, and the difference between the amounts of interest and foreign withholding taxes recorded on the Partnership’s books and the U.S. Dollar equivalent of the amounts actually received or paid. Net unrealized appreciation (depreciation) on foreign currency denominated other assets and liabilities arise from changes in the value of assets, other than investments in securities, and liabilities at fiscal year end, resulting from changes in the exchange rates. JPMorgan Chase Bank, N.A. (the “Custodian”) is the Partnership’s custodian. The Partnership has cash deposited with the Custodian. Société Générale (the “Clearing Broker”) is the Partnership’s commodity broker. For cash not held with the Clearing Broker the Partnership receives cash management services from an affiliate of the Custodian, J.P. Morgan Investment Management Inc. (“JPMIM”). E. Futures Contracts The Partnership may engage in futures contracts as part of its investment strategy. Upon entering into a futures contract, the Partnership is required to deposit with the broker an amount of cash or cash equivalents equal to a certain percentage of the contract amount. This is known as the “initial margin.” Subsequent payments (“variation margin”) are made or received by the Partnership each day, depending on the daily fluctuations in the value of the contract, and are included in unrealized gain (loss) on futures contracts. Due to broker amounts on the Statement of Financial Condition represent the amount of any short fall in the Partnership’s required cash margin. The Partnership recognizes a realized gain or loss when the contract is closed. There are several risks in connection with the use of futures contracts as an investment option. The change in value of futures contracts primarily corresponds with the value of their underlying instruments. In addition, there is the risk that the Partnership may not be able to enter into a closing transaction because of an illiquid secondary market. Open positions in futures contracts at September 30, 2015 and December 31, 2014 are reflected within the Condensed Schedules of Investments. F. Foreign Currency Transactions The Partnership’s functional currency is the U.S. dollar; however, it transacts business in currencies other than the U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the Statements of Financial Condition. Income and expense items denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect during the period. Gains and losses resulting from the translation to U.S. dollars are reported in the Statements of Income (Loss). G. Cash Restricted cash is held as maintenance margin deposits for futures transactions. At times, the Partnership’s cash balance could exceed the insured amount under the Federal Deposit Insurance Corporation (“FDIC”). The Partnership has not experienced any losses in such accounts and believes it is not subject to any significant counterparty risk related to its cash account. H. Offering Costs Offering costs incurred in connection with the ongoing offering of the Partnership’s interests are borne by the Partnership. These costs include, but are not limited to, legal fees pertaining to updating the Partnership’s offering documents and materials, accounting and printing costs. These costs are charged as an expense when incurred. I. Income Taxes As an entity taxable as a partnership for U.S. Federal income tax purposes; the Partnership itself is not subject to Federal Income tax. The Partnership prepares and files calendar year U.S. and applicable state information tax returns and reports to the partners their allocable shares of the Partnership’s income and expenses. The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. De-recognition of a tax benefit previously recognized results in the Partnership recording a tax liability that reduces ending partners’ capital. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of September 30, 2015 and December 31, 2014. However, the Partnership’s conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. The Partnership is subject to income tax examinations by major taxing authorities for all tax years since 2012. The Partnership recognizes interest and penalties related to unrecognized tax benefits in interest expense and other expenses, respectively. No interest expense or penalties have been recognized as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014.

2. PARTNERS CAPITAL

2. PARTNERS CAPITAL	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
PARTNERS' CAPITAL	NOTE 2 - PARTNERS’ CAPITAL A. Capital Accounts and Allocation of Income and Loss The Partnership accounts for subscriptions and redemptions on a per partner capital account basis. The Partnership consists of the General Partner’s Interest, Class A Interests, Class B Interests and Institutional Interests (collectively referred to as “Interests”). Income or loss (prior to management fees, administrative fees, service fees and incentive fees) is allocated pro rata among the partners based on their respective capital accounts as of the end of each month in which the items accrue, pursuant to the terms of the Partnership’s agreement of limited partnership, as may be amended and restated from time to time (the “Agreement”). Class A Interests, Class B Interests and Institutional Interests are then charged with their applicable management fee, administrative fee, service fee and incentive fee in accordance with the Agreement. No limited partner of the Partnership shall be liable for any debts or liabilities of the Partnership or any losses thereof in excess of such Limited Partner's capital contributions, except as may be required by law. B. Subscriptions, Distributions and Redemptions Investments in the Partnership are made by subscription agreement, subject to acceptance by the General Partner. The Partnership is not required to make distributions, but may do so at the sole discretion of the General Partner. A Limited Partner may request and receive redemption of capital, subject to restrictions set forth in the Agreement. The General Partner may request and receive redemption of capital, subject to the same terms as any Limited Partner. The partners may withdraw their interests on a monthly basis upon at least 15 days’ prior written notice, subject to the discretion of the General Partner. No distributions were made for the nine months ended September 30, 2015 and 2014.

3. RELATED PARTY TRANSACTIONS

3. RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 3 - RELATED PARTY TRANSACTIONS A. General Partner Management Fee The General Partner receives a monthly management fee from the Partnership equal to 0.104% (1.25% annually) for Class A and Class B, and 0.0625% (0.75% annually) for Institutional Interests of the Partnership's management fee net asset value. The General Partner may declare any Limited Partner a “Special Limited Partner” and the management fees or incentive fees charged to any such partner may be different than those charged to other Limited Partners. For the three and nine months ended September 30, 2015 and 2014, there were no Special Limited Partners. Total management fees earned by the General Partner for the three and nine months ended September 30, 2015 and 2014 are shown on the Statements of Income (Loss) as Management Fee. B. Administrative Fee The General Partner receives a monthly administrative fee from the Partnership equal to 0.0275% (0.33% annually) of the Partnership's management fee net asset value attributable to Class A and Class B Interests. For the three and nine months ended September 30, 2015, administrative fees for Class A Interests were $12,983 and $44,889, respectively, and administrative fees for Class B Interests were $7,499 and $26,093, respectively. For the three and nine months ended September 30, 2014, administrative fees for Class A Interests were $24,502 and $84,471, respectively, and administrative fees for Class B Interests were $16,486 and $59,482, respectively. C. Altegris Investments, Inc. and Altegris Clearing Solutions, L.L.C. Altegris Investments, Inc. (“Altegris Investments”), an affiliate of the General Partner, is registered as a broker-dealer with the Securities Exchange Commission. Altegris Clearing Solutions, L.L.C. (“Altegris Clearing Solutions”), an affiliate of the General Partner and an introducing broker registered with the CFTC, is the Partnership’s introducing broker. Altegris Investments has entered into a selling agreement with the Partnership whereby it receives 2% per annum as continuing compensation for Class A Interests sold by Altegris Investments that are outstanding at month end. Altegris Clearing Solutions, as the Partnership’s introducing broker, receives a portion of the commodity brokerage commissions paid by the Partnership to the Clearing Broker and interest income retained by the Clearing Broker. Additionally, the Partnership pays to its clearing brokers and Altegris Clearing Solutions, at a minimum, brokerage charges at a monthly flat rate of 0.125% (1.5% annually) of the Partnership’s management fee net asset value. Brokerage charges may exceed the flat rate described above, depending on commission and trading volume levels, which may vary. At September 30, 2015 and December 31, 2014, respectively, the Partnership had commissions and brokerage fees payable to Altegris Clearing Solutions of $13,442 and $29,423 and service fees payable to Altegris Investments of $5,350 and $7,777, respectively. The following tables show the fees paid to Altegris Investments and Altegris Clearing Solutions for the three and nine months ended September 30, 2015 and 2014, respectively: Three months ended Nine months ended Three months ended Nine months ended September 30, 2015 September 30, 2015 September 30, 2014 September 30, 2014 Altegris Clearing Solutions - Brokerage Commission fees $ 35,323 $ 120,776 $ 114,103 $ 346,304 Altegris Investments- Service fees 16,622 55,182 28,863 101,465 Total $ 51,945 $ 175,958 $ 142,966 $ 447,769 The amounts above are included in Brokerage Commissions and Service Fees on the Statements of Income (Loss), respectively. The amounts shown on the Statements of Income (Loss) include fees paid to non-related parties.

4. ADVISORY CONTRACT

4. ADVISORY CONTRACT	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
ADVISORY CONTRACT	NOTE 4 - ADVISORY CONTRACT The Partnership’s trading activities are conducted pursuant to an advisory contract with Quantitative Investment Management LLC (QIM) (“Advisor”). The Partnership pays the Advisor a quarterly incentive fee of 30% of the trading profits. However, the quarterly incentive fee is payable only on cumulative profits, calculated separately for each partner’s interest, achieved from commodity trading. The incentive fee is accrued on a monthly basis and paid quarterly. Incentive

5. SERVICE FEES

5. SERVICE FEES	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
SERVICE FEES	NOTE 5 - SERVICE FEES As compensation for the continuing services of the selling agents to the Class A Limited Partners, Class A Interests pay the selling agents an ongoing monthly payment of 0.166% (2% annually) of the net asset value of interests sold by the agents that are outstanding at month-end. As compensation for the continuing services of the selling agents to the Limited Partners holding Institutional Interests, the selling agents may elect the Institutional Interests to pay the selling agents an ongoing monthly payment of 0.0417% (0.50% annually) of the net asset value of Institutional Interests sold by the agents that are outstanding at month-end. However, there were none for the three and nine months ended September 30, 2015. For the three and nine months ended September 30, 2015, service fees for Class A Interests were $79,152 and $274,100, respectively. For the three and nine months ended September 30, 2014, service fees for Class A Interests were $147,765 and $505,400, respectively, and service fees for Institutional Interests were $38 and $278, respectively.

6. BROKERAGE COMMISSIONS

6. BROKERAGE COMMISSIONS	9 Months Ended
	Sep. 30, 2015
Brokers and Dealers [Abstract]
BROKERAGE COMMISSIONS	NOTE 6 - BROKERAGE COMMISSIONS The Partnership pays brokerage commissions to the Clearing Broker for clearing trades on its behalf, which are reflected in the Statements of Income (Loss) as Brokerage Commissions. The Partnership pays to its Clearing Broker a monthly brokerage commission equal to the greater of: (1) actual brokerage commissions, which are based upon trading volume, or (2) a flat rate of 0.125% (1.5% annually) (the “Minimum Amount”) of the Partnership’s management fee net asset value. If actual brokerage commissions paid to the Clearing Broker are less than the Minimum Amount, the Partnership will pay to the introducing broker, the difference. However, if actual brokerage commissions are greater than the Minimum Amount, the Partnership only pays the actual brokerage commissions.

7. FINANCIAL DERIVATIVE INSTRUM

7. FINANCIAL DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL DERIVATIVE INSTRUMENTS	NOTE 7 - FINANCIAL DERIVATIVE INSTRUMENTS The Partnership engages in the speculative trading of futures contracts for the purpose of achieving capital appreciation. None of the Partnership’s derivative instruments are designated as hedging instruments, as defined in the Derivatives and Hedging The following presents the fair value of derivative contracts as of September 30, 2015 and December 31, 2014. The fair value of derivative contracts is presented as an asset if in a gain position and a liability if in a loss position. Fair value is presented on a gross basis in the table below even though the derivative contracts qualify for net presentation in the Statements of Financial Condition. September 30, 2015 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 12,562 $ (1,270) $ 11,292 Energy 10,007 (1,667) 8,340 Interest Rates 80,374 (1,334) 79,040 Metals 13,337 - 13,337 Stock Indices 100,091 (26,003) 74,088 Treasury Rates 135,340 - 135,340 $ 351,711 $ (30,274) $ 321,437 December 31, 2014 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 3,505 $ (957) $ 2,548 Energy 4,249 (7,570) (3,321) Interest Rates 7,949 (21,637) (13,688) Stock Indices 33,223 (48,359) (15,136) Treasury Rates 1,109 (3,098) (1,989) $ 50,035 $ (81,621) $ (31,586) The following presents the trading results of the Partnership’s derivative trading and information related to the volume of the Partnership’s derivative activity for the three and nine months ended September 30, 2015 and 2014. The below captions of “Realized” and “Change in Unrealized” correspond to the captions in the Statements of Income (Loss) for gain (loss) on trading derivatives contracts. Three Months Ended September 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ (146,218) $ 16,790 . Energy 294,246 20,066 Interest Rates 380,304 133,872 Metals 2,700 10,231 Stock Indices 1,295,064 (57,827) Treasury Rates (437,398) 154,265 $ 1,388,698 $ 277,397 For the three months ended September 30, 2015, the number of futures contracts closed was 7,682. Nine Months Ended September 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 292,738 $ 8,743 . Energy 460,446 11,660 Interest Rates 1,436,542 92,729 Metals (68,254) 13,336 Stock Indices 1,685,599 89,225 Treasury Rates 829,737 137,330 $ 4,636,808 $ 353,023 For the nine months ended September 30, 2015, the number of futures contracts closed was 24,965. Three Months Ended September 30, 2014 Type of Change in Futures Contracts Realized Unrealized Currencies $ 856,682 $ (188,585) . Energy (31,142) 148,875 Interest Rates (475,832) (137,428) Metals 116,007 14,781 Stock Indices 714,445 66,200 Treasury Rates (780,049) (108,521) $ 400,111 $ (204,678) For the three months ended September 30, 2014, the number of futures contracts closed was 10,959. Nine Months Ended September 30, 2014 Type of Change in Futures Contracts Realized Unrealized Currencies $ (137,609) $ (274,524) . Energy 785,343 172,416 Interest Rates 1,221,653 (322,426) Metals (168,672) (1,903) Stock Indices (2,779,516) (407,656) Treasury Rates (2,109,444) (212,304) $ (3,188,245) $ (1,046,397) For the nine months ended September 30, 2014, the number of futures contracts closed was 45,539. With respect to futures contracts and options on futures contracts, the Partnership has entered into an agreement with the Clearing Broker which grants the Clearing Broker the right to offset recognized derivative assets and derivative liabilities if certain conditions exist, which would require the Clearing Broker to liquidate the Partnership’s positions. These events include the following: (i) upon the dissolution, winding up, liquidation or merger of the Partnership, (ii) failure to maintain initial margin or failure to make timely payment of additional variation margin, (iii) failure to pay the premium on any option purchased, (iv) upon the commencement of bankruptcy, insolvency or similar proceeding for the protection of creditors against the Partnership, (v) the Clearing Broker determines, at its discretion, that the risk in the Partnership’s account must be reduced for protection of the Clearing Broker, or (vi) if the Partnership’s registration status is suspended or is pending suspension. The following table summarizes the disclosure requirements for offsetting assets and liabilities: Offsetting the Financial Assets and Derivative Assets Gross Amounts Not Offset in the Statement of Financial Condition As of September 30, 2015 Gross Gross Amounts of Net Amounts Amounts of Recognized of Assets Presented Recognized Liabilities in the Statement Financial Cash Collateral Description Assets Available to Offset of Financial Condition Instruments Received (1) Net Amount Commodity futures contracts $ 351,711 $ (30,274) $ 321,437 $ - $ - $ 321,437 Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of September 30, 2015 Gross Gross Amounts of Net Amounts Amounts of Recognized of Liabilities Presented Recognized Assets in the Statement Financial Cash Collateral Description Liabilities Available to Offset of Financial Condition Instruments Pledged (1) Net Amount Commodity futures contracts $ (30,274) $ 30,274 $ - $ - $ - $ - Offsetting the Financial Assets and Derivative Assets Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2014 Gross Gross Amounts of Net Amounts Amounts of Recognized of Assets Presented Recognized Liabilities in the Statement Financial Cash Collateral Description Assets Available to Offset of Financial Condition Instruments Received (1) Net Amount Commodity futures contracts $ 50,035 $ (50,035) $ - $ - $ - $ - Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2014 Gross Gross Amounts of Net Amounts Amounts of Recognized of Liabilities Presented Recognized Assets in the Statement Financial Cash Collateral Description Liabilities Available to Offset of Financial Condition Instruments Pledged (1) Net Amount Commodity futures contracts $ (81,621) $ 50,035 $ (31,586) $ - $ - $ (31,586) (1) Does not include maintenance margin deposits held at the Clearing Broker of $4,848,777 for 2015 & $1,966,135 for 2014, respectively.

8. FINANCIAL INSTRUMENTS, OFF-B

8. FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND UNCERTAINTIES	9 Months Ended
	Sep. 30, 2015
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND UNCERTAINTIES	NOTE 8 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND UNCERTAINTIES The Partnership participates in the speculative trading of commodity futures contracts, substantially all of which are subject to margin requirements. The minimum amount of margin required for each contract is set from time to time in response to various market factors by the respective exchanges. Further, the Clearing Broker has the right to require margin in excess of the minimum exchange requirement. Risk arises from changes in the value of these contracts (market risk) and the potential inability of brokers to perform under the terms of their contracts (credit risk). All of the contracts currently traded by the Partnership are exchange traded. The risks associated with exchange-traded contracts are generally perceived to be less than those associated with over-the-counter transactions because, in over-the-counter transactions, the Partnership must rely solely on the credit of its respective individual counterparties. However, in the future, if the Partnership were to enter into non-exchange traded contracts, it would be subject to the credit risk associated with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net unrealized gain, if any. The Partnership also has credit risk because the sole counterparty to all domestic futures contracts is the exchange clearing corporation. In addition, the Partnership bears the risk of financial failure by the Clearing Broker. The Partnership's policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial position and credit exposure reporting and control procedures. In addition, the Partnership has a policy of reviewing the credit standing of each clearing broker or counterparty with which it conducts business. The Partnership has a substantial portion of its assets on deposit with the Custodian in U.S. government agency bonds and notes and corporate notes. Risks arise from investments in bonds and notes due to possible illiquidity and the potential for default by the issuer or counterparty. Such instruments are also sensitive to changes in interest rates and economic conditions.

9. INDEMNIFICATIONS

9. INDEMNIFICATIONS	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
INDEMNIFICATIONS	NOTE 9 - INDEMNIFICATIONS In the normal course of business, the Partnership enters into contracts and agreements that contain a variety of representations and warranties and which provide general indemnifications. The Partnership’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Partnership that have not yet occurred. The Partnership expects the risk of any future obligation under these indemnifications to be remote.

10. FINANCIAL HIGHLIGHTS

10. FINANCIAL HIGHLIGHTS	9 Months Ended
	Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
FINANCIAL HIGHLIGHTS	NOTE 10 - FINANCIAL HIGHLIGHTS The following information presents the financial highlights of the Partnership for the three and nine months ended September 30, 2015 and 2014. This information has been derived from information presented in the financial statements. Three Months ended September 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 5.14% 5.66% 5.87% Incentive fees (0.13%) (0.12%) (0.21%) Total return after incentive fees 5.01% 5.54% 5.66% Ratio to average net asset value Expenses prior to incentive fees (2) 4.70% 2.72% 1.78% Incentive fees (3) 0.13% 0.12% 0.21% Total expenses 4.83% 2.84% 1.99% Net investment loss (1) (2) (4.61%) (2.63%) (1.69% ) Nine Months ended September 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 13.54% 15.25% 15.95% Incentive fees (0.16%) (0.21%) (0.30%) Total return after incentive fees 13.38% 15.04% 15.65% Ratio to average net asset value Expenses prior to incentive fees (2) 4.89% 2.87% 1.95% Incentive fees (3) 0.13% 0.17% 0.16% Total expenses 5.02% 3.04% 2.11% Net investment loss (1) (2) (4.79%) (2.77%) (1.85% ) Three Months ended September 30, 2014 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees (1.07%) (0.57%) (0.37%) Incentive fees 0.00% 0.00% (0.01%) Total return after incentive fees (1.07%) (0.57%) (0.38%) Ratio to average net asset value Expenses prior to incentive fees (2) 4.47% 2.46% 3.38% Incentive fees (3) 0.01% 0.00% 0.01% Total expenses 4.48% 2.46% 3.39% Net investment loss (1) (2) (4.38%) (2.37%) (1.59% ) Nine Months ended September 30, 2014 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees (9.86%) (8.50%) (7.92%) Incentive fees (0.01%) 0.00% (0.01%) Total return after incentive fees (9.87%) (8.50%) (7.93%) Ratio to average net asset value Expenses prior to incentive fees (2) 4.35% 2.34% 1.98% Incentive fees (3) 0.01% 0.00% 0.01% Total expenses 4.36% 2.34% 1.99% Net investment loss (1) (2) (4.26%) (2.25%) (1.42% ) Total return and the ratios to average net asset value are calculated for each class of Limited Partners’ capital taken as a whole. An individual Limited Partner’s total return and ratios may vary from the above returns and ratios due to the timing of their contributions and withdrawals and differing fee structures. Total return is calculated on a monthly compounded basis. (1) Excludes incentive fee. (2) Annualized (3) Not annualized.

11. SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS Management of the Partnership evaluated subsequent events through the date these financial statements were available to be issued. From October 1, 2015 through November 11, 2015, the Partnership had subscriptions of $98,000 redemptions of $479,856. Management has determined there are no additional matters requiring disclosure.

1. ORGANIZATION AND SIGNIFICA20

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Methods of Reporting	B. Method of Reporting The Partnership’s financial statements are presented in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Therefore, the Partnership follows the accounting and reporting guidelines for investment companies. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported fair value of assets and liabilities, disclosures of contingent assets and liabilities as of September 30, 2015 and December 31, 2014, and reported amounts of income and expenses for the three and nine months ended September 30, 2015 and 2014, respectively. Management believes that the estimates utilized in preparing the Partnership’s financial statements are reasonable; however, actual results could differ from these estimates and it is reasonably possible that the differences could be material. The financial information included herein is unaudited; however, such financial information reflects all adjustments which are, in the opinion of management, necessary for the fair presentation of the financial statements for the interim period.
Fair Value	C. Fair Value In accordance with the authoritative guidance under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Partnership uses various valuation approaches. The authoritative guidance under U.S. GAAP establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Partnership. Unobservable inputs reflect the Partnership’s assumption about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Partnership has the ability to access at the measurement date; Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity). The availability of valuation techniques and observable inputs can vary among assets and liabilities and is affected by a wide variety of factors, including the type of asset or liability, whether the asset or liability is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Those estimated values do not necessarily represent the amounts that may be ultimately realized due to the occurrence of future circumstances that cannot be reasonably determined. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the asset or liability existed. Accordingly, the degree of judgment exercised by the Partnership in determining fair value is greatest for assets and liabilities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined by the lowest level input that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Partnership’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Partnership uses prices and inputs that are current as of the measurement date, including prices and inputs during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many assets and liabilities. This condition could cause an asset or liability to be reclassified to a lower level within the fair value hierarchy. The Partnership values futures contracts at the closing price of the contract’s primary exchange. The Partnership includes futures contracts in Level 1 of the fair value hierarchy, as they are exchange traded derivatives. The fair value of U.S. government agency bonds and notes is generally based on quoted prices in active markets. When quoted prices are not available, fair value is determined based on a valuation model that uses inputs which include interest-rate yield curves, cross-currency-basis index spreads, and country credit spreads similar to the bond in terms of issue, maturity and seniority. U.S. government agency bonds and notes are categorized in Level 1 or Level 2 of the fair value hierarchy. As of September 30, 2015 and December 31, 2014, none of the Partnership’s holdings in U.S. government agency bonds and notes were fair valued using valuation models. The fair value of U.S. treasury obligations is generally based on quoted prices in active markets. U.S. treasury obligations are categorized in Level 1 of the fair value hierarchy. The fair value of corporate notes is determined using recently executed transactions, market price quotations (where observable), notes spreads or credit default swap spreads. The spread data used are for the same maturity as that of the notes. If the spread data does not reference the issuer, data that references a comparable issuer is used. When observable price quotations are not available, fair value is determined based on cash flow models with yield curves, notes, or single-name credit default swap spreads and recovery rates based on collateral values as key inputs. These valuation methods represent both a market and income approach to fair value measurement. Corporate notes are categorized in Level 2 of the fair value hierarchy; however, in instances where significant inputs are unobservable, they are categorized in Level 3 of the hierarchy. As of September 30, 2015 and December 31, 2014, none of the Partnership’s holdings in corporate notes were fair valued using valuation models. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. There were no changes in the Partnership’s valuation methodology during the periods ended September 30, 2015 and December 31, 2014. The following table presents information about the Partnership’s assets and liabilities measured at fair value as of September 30, 2015 and December 31, 2014: Balance as of September 30, 2015 Level 1 Level 2 Level 3 September 30, 2015 Assets Future contracts (1) $ 351,711 $ - $ - $ 351,711 U.S. Government agency bonds and notes 8,702,325 - - 8,702,325 Corporate notes - 4,729,670 - 4,729,670 Total Assets $ 9,054,036 $ 4,729,670 $ - $ 13,783,706 Liabilities Futures contracts (1) $ (30,274) $ - $ - $ (30,274) Balance as of December 31, 2014 Level 1 Level 2 Level 3 December 31, 2014 Assets Futures contracts (1) $ 50,035 $ - $ - $ 50,035 U.S. Government agency bonds and notes 20,865,775 - - 20,865,775 Corporate notes - 14,399,062 - 14,399,062 Total Assets $ 20,915,810 $ 14,399,062 $ - $ 35,314,872 Liabilities Futures contracts (1) $ (81,621) $ - $ - $ (81,621) (1) See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category. For the nine month period ended September 30, 2015 and the year ended December 31, 2014, there were no transfers between Level 1 and Level 2 assets and liabilities. For the nine month period ended September 30, 2015 and the year ended December 31, 2014, there were no Level 3 securities.
Investment Transactions and Investment Income	D. Investment Transactions and Investment Income Security transactions are recorded on the trade date for financial reporting purposes. Realized gains and losses from security transactions are determined using the specific identification cost method. Change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss). Brokerage commissions on securities and other trading fees are reflected as an adjustment to cost or proceeds at the time of the transaction. Interest income is recorded on an accrual basis. Gains or losses on futures contracts are realized when contracts are closed. Net unrealized gains or losses on open contracts (the difference between contract trade price and quoted market price) are reflected in the Statements of Financial Condition. Any change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss). Brokerage commissions on futures contracts include other trading fees and are incurred as an expense when contracts are opened, and are recognized as trading gains and losses. Net realized gains and losses from foreign currency related transactions represent gains and losses from sales of foreign currencies, sales and maturities of foreign currency forward contracts, currency gains and losses realized between trade and settlement dates on securities transactions, and the difference between the amounts of interest and foreign withholding taxes recorded on the Partnership’s books and the U.S. Dollar equivalent of the amounts actually received or paid. Net unrealized appreciation (depreciation) on foreign currency denominated other assets and liabilities arise from changes in the value of assets, other than investments in securities, and liabilities at fiscal year end, resulting from changes in the exchange rates. JPMorgan Chase Bank, N.A. (the “Custodian”) is the Partnership’s custodian. The Partnership has cash deposited with the Custodian. Société Générale (the “Clearing Broker”) is the Partnership’s commodity broker. For cash not held with the Clearing Broker the Partnership receives cash management services from an affiliate of the Custodian, J.P. Morgan Investment Management Inc. (“JPMIM”).
Futures Contracts	E. Futures Contracts The Partnership may engage in futures contracts as part of its investment strategy. Upon entering into a futures contract, the Partnership is required to deposit with the broker an amount of cash or cash equivalents equal to a certain percentage of the contract amount. This is known as the “initial margin.” Subsequent payments (“variation margin”) are made or received by the Partnership each day, depending on the daily fluctuations in the value of the contract, and are included in unrealized gain (loss) on futures contracts. Due to broker amounts on the Statement of Financial Condition represent the amount of any short fall in the Partnership’s required cash margin. The Partnership recognizes a realized gain or loss when the contract is closed. There are several risks in connection with the use of futures contracts as an investment option. The change in value of futures contracts primarily corresponds with the value of their underlying instruments. In addition, there is the risk that the Partnership may not be able to enter into a closing transaction because of an illiquid secondary market. Open positions in futures contracts at September 30, 2015 and December 31, 2014 are reflected within the Condensed Schedules of Investments.
Foreign Currency Transactions	F. Foreign Currency Transactions The Partnership’s functional currency is the U.S. dollar; however, it transacts business in currencies other than the U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the Statements of Financial Condition. Income and expense items denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect during the period. Gains and losses resulting from the translation to U.S. dollars are reported in the Statements of Income (Loss).
Cash	G. Cash Restricted cash is held as maintenance margin deposits for futures transactions. At times, the Partnership’s cash balance could exceed the insured amount under the Federal Deposit Insurance Corporation (“FDIC”). The Partnership has not experienced any losses in such accounts and believes it is not subject to any significant counterparty risk related to its cash account.
Offering Costs	H. Offering Costs Offering costs incurred in connection with the ongoing offering of the Partnership’s interests are borne by the Partnership. These costs include, but are not limited to, legal fees pertaining to updating the Partnership’s offering documents and materials, accounting and printing costs. These costs are charged as an expense when incurred.
Income Taxes	I. Income Taxes As an entity taxable as a partnership for U.S. Federal income tax purposes; the Partnership itself is not subject to Federal Income tax. The Partnership prepares and files calendar year U.S. and applicable state information tax returns and reports to the partners their allocable shares of the Partnership’s income and expenses. The Partnership is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. De-recognition of a tax benefit previously recognized results in the Partnership recording a tax liability that reduces ending partners’ capital. Based on its analysis, the Partnership has determined that it has not incurred any liability for unrecognized tax benefits as of September 30, 2015 and December 31, 2014. However, the Partnership’s conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. The Partnership is subject to income tax examinations by major taxing authorities for all tax years since 2012. The Partnership recognizes interest and penalties related to unrecognized tax benefits in interest expense and other expenses, respectively. No interest expense or penalties have been recognized as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014.

1. ORGANIZATION AND SIGNIFICA21

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Partnership's assets and liabilities measured at fair value	Balance as of September 30, 2015 Level 1 Level 2 Level 3 September 30, 2015 Assets Future contracts (1) $ 351,711 $ - $ - $ 351,711 U.S. Government agency bonds and notes 8,702,325 - - 8,702,325 Corporate notes - 4,729,670 - 4,729,670 Total Assets $ 9,054,036 $ 4,729,670 $ - $ 13,783,706 Liabilities Futures contracts (1) $ (30,274) $ - $ - $ (30,274) Balance as of December 31, 2014 Level 1 Level 2 Level 3 December 31, 2014 Assets Futures contracts (1) $ 50,035 $ - $ - $ 50,035 U.S. Government agency bonds and notes 20,865,775 - - 20,865,775 Corporate notes - 14,399,062 - 14,399,062 Total Assets $ 20,915,810 $ 14,399,062 $ - $ 35,314,872 Liabilities Futures contracts (1) $ (81,621) $ - $ - $ (81,621) (1) See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category.

3. RELATED PARTY TRANSACTIONS (

3. RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions Tables
Fees paid to Altegris Investments and Altegris Futures	Three months ended Nine months ended Three months ended Nine months ended September 30, 2015 September 30, 2015 September 30, 2014 September 30, 2014 Altegris Clearing Solutions - Brokerage Commission fees $ 35,323 $ 120,776 $ 114,103 $ 346,304 Altegris Investments- Service fees 16,622 55,182 28,863 101,465 Total $ 51,945 $ 175,958 $ 142,966 $ 447,769

7. FINANCIAL DERIVATIVE INSTR23

7. FINANCIAL DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative contracts	September 30, 2015 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 12,562 $ (1,270) $ 11,292 Energy 10,007 (1,667) 8,340 Interest Rates 80,374 (1,334) 79,040 Metals 13,337 - 13,337 Stock Indices 100,091 (26,003) 74,088 Treasury Rates 135,340 - 135,340 $ 351,711 $ (30,274) $ 321,437 December 31, 2014 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 3,505 $ (957) $ 2,548 Energy 4,249 (7,570) (3,321) Interest Rates 7,949 (21,637) (13,688) Stock Indices 33,223 (48,359) (15,136) Treasury Rates 1,109 (3,098) (1,989) $ 50,035 $ (81,621) $ (31,586)
Trading results of the Partnership's derivative trading and information related to the volume of the Partnership's derivative activity	Three Months Ended September 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ (146,218) $ 16,790 . Energy 294,246 20,066 Interest Rates 380,304 133,872 Metals 2,700 10,231 Stock Indices 1,295,064 (57,827) Treasury Rates (437,398) 154,265 $ 1,388,698 $ 277,397 Nine Months Ended September 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 292,738 $ 8,743 . Energy 460,446 11,660 Interest Rates 1,436,542 92,729 Metals (68,254) 13,336 Stock Indices 1,685,599 89,225 Treasury Rates 829,737 137,330 $ 4,636,808 $ 353,023 Three Months Ended September 30, 2014 Type of Change in Futures Contracts Realized Unrealized Currencies $ 856,682 $ (188,585) . Energy (31,142) 148,875 Interest Rates (475,832) (137,428) Metals 116,007 14,781 Stock Indices 714,445 66,200 Treasury Rates (780,049) (108,521) $ 400,111 $ (204,678) Nine Months Ended September 30, 2014 Type of Change in Futures Contracts Realized Unrealized Currencies $ (137,609) $ (274,524) . Energy 785,343 172,416 Interest Rates 1,221,653 (322,426) Metals (168,672) (1,903) Stock Indices (2,779,516) (407,656) Treasury Rates (2,109,444) (212,304) $ (3,188,245) $ (1,046,397)
Disclosures about Offsetting Assets and Liabilities	Offsetting the Financial Assets and Derivative Assets Gross Amounts Not Offset in the Statement of Financial Condition As of September 30, 2015 Gross Gross Amounts of Net Amounts Amounts of Recognized of Assets Presented Recognized Liabilities in the Statement Financial Cash Collateral Description Assets Available to Offset of Financial Condition Instruments Received (1) Net Amount Commodity futures contracts $ 351,711 $ (30,274) $ 321,437 $ - $ - $ 321,437 Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of September 30, 2015 Gross Gross Amounts of Net Amounts Amounts of Recognized of Liabilities Presented Recognized Assets in the Statement Financial Cash Collateral Description Liabilities Available to Offset of Financial Condition Instruments Pledged (1) Net Amount Commodity futures contracts $ (30,274) $ 30,274 $ - $ - $ - $ - Offsetting the Financial Assets and Derivative Assets Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2014 Gross Gross Amounts of Net Amounts Amounts of Recognized of Assets Presented Recognized Liabilities in the Statement Financial Cash Collateral Description Assets Available to Offset of Financial Condition Instruments Received (1) Net Amount Commodity futures contracts $ 50,035 $ (50,035) $ - $ - $ - $ - Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2014 Gross Gross Amounts of Net Amounts Amounts of Recognized of Liabilities Presented Recognized Assets in the Statement Financial Cash Collateral Description Liabilities Available to Offset of Financial Condition Instruments Pledged (1) Net Amount Commodity futures contracts $ (81,621) $ 50,035 $ (31,586) $ - $ - $ (31,586) (1) Does not include maintenance margin deposits held at the Clearing Broker of $4,848,777 for 2015 & $1,966,135 for 2014, respectively.

10. FINANCIAL HIGHLIGHTS (Table

10. FINANCIAL HIGHLIGHTS (Tables)	9 Months Ended
	Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Financial highlights of the Partnership	Three Months ended September 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 5.14% 5.66% 5.87% Incentive fees (0.13%) (0.12%) (0.21%) Total return after incentive fees 5.01% 5.54% 5.66% Ratio to average net asset value Expenses prior to incentive fees (2) 4.70% 2.72% 1.78% Incentive fees (3) 0.13% 0.12% 0.21% Total expenses 4.83% 2.84% 1.99% Net investment loss (1) (2) (4.61%) (2.63%) (1.69% ) Nine Months ended September 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 13.54% 15.25% 15.95% Incentive fees (0.16%) (0.21%) (0.30%) Total return after incentive fees 13.38% 15.04% 15.65% Ratio to average net asset value Expenses prior to incentive fees (2) 4.89% 2.87% 1.95% Incentive fees (3) 0.13% 0.17% 0.16% Total expenses 5.02% 3.04% 2.11% Net investment loss (1) (2) (4.79%) (2.77%) (1.85% ) Three Months ended September 30, 2014 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees (1.07%) (0.57%) (0.37%) Incentive fees 0.00% 0.00% (0.01%) Total return after incentive fees (1.07%) (0.57%) (0.38%) Ratio to average net asset value Expenses prior to incentive fees (2) 4.47% 2.46% 3.38% Incentive fees (3) 0.01% 0.00% 0.01% Total expenses 4.48% 2.46% 3.39% Net investment loss (1) (2) (4.38%) (2.37%) (1.59% ) Nine Months ended September 30, 2014 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees (9.86%) (8.50%) (7.92%) Incentive fees (0.01%) 0.00% (0.01%) Total return after incentive fees (9.87%) (8.50%) (7.93%) Ratio to average net asset value Expenses prior to incentive fees (2) 4.35% 2.34% 1.98% Incentive fees (3) 0.01% 0.00% 0.01% Total expenses 4.36% 2.34% 1.99% Net investment loss (1) (2) (4.26%) (2.25%) (1.42% ) Total return and the ratios to average net asset value are calculated for each class of Limited Partners’ capital taken as a whole. An individual Limited Partner’s total return and ratios may vary from the above returns and ratios due to the timing of their contributions and withdrawals and differing fee structures. Total return is calculated on a monthly compounded basis. (1) Excludes incentive fee. (2) Annualized (3) Not annualized.

1. ORGANIZATION AND SIGNIFICA25

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES - Partnership's assets and liabilities at fair value (Details) - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Futures contracts	[1]	$ 351,711	$ 50,035
U.S. Government agency bonds and notes		8,702,325	20,865,775
Corporate notes		4,729,670	14,399,062
Total Assets		13,783,706	35,314,872
Liabilities: Futures Contracts	[1]	(30,274)	(81,621)
Level 1
Futures contracts	[1]	351,711	50,035
U.S. Government agency bonds and notes		$ 8,702,325	$ 20,865,775
Corporate notes
Total Assets		$ 9,054,036	$ 20,915,810
Liabilities: Futures Contracts	[1]	$ (30,274)	$ (81,621)
Level 2
Futures contracts	[1]
U.S. Government agency bonds and notes
Corporate notes		$ 4,729,670	$ 14,399,062
Total Assets		$ 4,729,670	$ 14,399,062
Liabilities: Futures Contracts	[1]
Level 3
Futures contracts	[1]
U.S. Government agency bonds and notes
Corporate notes
Total Assets
Liabilities: Futures Contracts	[1]
[1]	See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category.

1. ORGANIZATION AND SIGNIFICA26

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Notes to Financial Statements
Transfers between Level 1 and Level 2 assets and liabilities	$ 0	$ 0
Liability for unrecognized tax benefits	0	0
Recognized interest expense or penalties	$ 0	$ 0

3. RELATED PARTY TRANSACTIONS -

3. RELATED PARTY TRANSACTIONS - Fees paid to related parties (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Notes to Financial Statements
Altegris Futures - Brokerage Commission fees	$ 35,323	$ 114,103	$ 120,776	$ 346,304
Altegris Investments - Service fees	16,622	28,863	55,182	101,465
Total	$ 51,945	$ 142,966	$ 175,958	$ 447,769

3. RELATED PARTY TRANSACTIONS28

3. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Partnership Monthly Brokerage Charges			0.125%
Partnership Annual Brokerage Charges			1.50%
Administrative fee	$ 20,482	$ 40,988	$ 70,982	$ 143,953
Commissions and Brokerage fees payable	13,442		13,442		$ 29,423
Service fees payable	$ 5,350		$ 5,350		$ 7,777
Institutional Interests
Monthly Management Fee	0.0625%	0.0625%	0.0625%	0.0625%
Annual Management Fee	0.75%	0.75%	0.75%	0.75%
Class A
Monthly Management Fee	0.104%	0.104%	0.104%	0.104%
Annual Management Fee	1.25%	1.25%	1.25%	1.25%
Monthly Administrative Fee	0.0275%	0.0275%	0.0275%	0.0275%
Annual Administrative Fee	0.33%	0.33%	0.33%	0.33%
Administrative fee	$ 12,983	$ 24,502	$ 44,889	$ 84,471
Class B
Monthly Management Fee	0.104%	0.104%	0.104%	0.104%
Annual Management Fee	1.25%	1.25%	1.25%	1.25%
Monthly Administrative Fee	0.0275%	0.0275%	0.0275%	0.0275%
Annual Administrative Fee	0.33%	0.33%	0.33%	0.33%
Administrative fee	$ 7,499	$ 16,486	$ 26,093	$ 59,482

4. ADVISORY CONTRACT (Details N

4. ADVISORY CONTRACT (Details Narrative)	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Advisor quarterly incentive fee, percent of trading profits	30.00%

5. SERVICE FEES (Details Narrat

5. SERVICE FEES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class A
Ongoing Sales Service Fees	0.166%	0.166%	0.166%	0.166%
Annual Sales Service Fees	2.00%	2.00%	2.00%	2.00%
Service fees	$ 79,152	$ 147,765	$ 274,100	$ 505,400
Institutional Interests
Ongoing Sales Service Fees	0.0417%	0.0417%	0.0417%	0.0417%
Annual Sales Service Fees	0.50%	0.50%	0.50%	0.50%
Service fees	$ 0	$ 38	$ 0	$ 278

7. FINANCIAL DERIVATIVE INSTR31

7. FINANCIAL DERIVATIVE INSTRUMENTS - Fair value of derivative contracts (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Currencies
Asset Derivatives Fair Value, Futures Contracts	$ 12,562	$ 3,505
Liability Derivatives Fair Value, Futures Contracts	(1,270)	(957)
Net Fair Value, Futures Contracts	11,292	2,548
Energy
Asset Derivatives Fair Value, Futures Contracts	10,007	4,249
Liability Derivatives Fair Value, Futures Contracts	(1,667)	(7,570)
Net Fair Value, Futures Contracts	8,340	(3,321)
Interest Rates
Asset Derivatives Fair Value, Futures Contracts	80,374	7,949
Liability Derivatives Fair Value, Futures Contracts	(1,334)	(21,637)
Net Fair Value, Futures Contracts	79,040	(13,688)
Metals
Asset Derivatives Fair Value, Futures Contracts	$ 13,337
Liability Derivatives Fair Value, Futures Contracts
Net Fair Value, Futures Contracts	$ 13,337
Stock Indices
Asset Derivatives Fair Value, Futures Contracts	100,091	33,223
Liability Derivatives Fair Value, Futures Contracts	(26,003)	(48,359)
Net Fair Value, Futures Contracts	74,088	(15,136)
Treasury Rates
Asset Derivatives Fair Value, Futures Contracts	$ 135,340	1,109
Liability Derivatives Fair Value, Futures Contracts		(3,098)
Net Fair Value, Futures Contracts	$ 135,340	(1,989)
Futures Contracts
Asset Derivatives Fair Value, Futures Contracts	(30,274)	(81,621)
Liability Derivatives Fair Value, Futures Contracts	351,711	50,035
Net Fair Value, Futures Contracts	$ 321,437	$ (31,586)

7. FINANCIAL DERIVATIVE INSTR32

7. FINANCIAL DERIVATIVE INSTRUMENTS - Trading results of the Partnership's derivative trading (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Realized, Futures Contracts	$ 1,388,698	$ 400,111	$ 4,636,808	$ (3,188,245)
Change in Unrealized, Futures Contracts	277,397	(204,678)	353,023	(1,046,397)
Currencies
Realized, Futures Contracts	(146,218)	856,682	292,738	(137,609)
Change in Unrealized, Futures Contracts	16,790	(188,585)	8,743	(274,524)
Energy
Realized, Futures Contracts	294,246	(31,142)	460,446	785,343
Change in Unrealized, Futures Contracts	20,066	148,875	11,660	172,416
Interest Rates
Realized, Futures Contracts	380,304	(475,832)	1,436,542	1,221,653
Change in Unrealized, Futures Contracts	133,872	(137,428)	92,729	(322,426)
Metals
Realized, Futures Contracts	2,700	116,007	(68,254)	(168,672)
Change in Unrealized, Futures Contracts	10,231	14,781	13,336	(1,903)
Stock Indices
Realized, Futures Contracts	1,295,064	714,445	1,685,599	(2,779,516)
Change in Unrealized, Futures Contracts	(57,827)	66,200	89,225	(407,656)
Treasury Rates
Realized, Futures Contracts	(437,398)	(780,049)	829,737	(2,109,444)
Change in Unrealized, Futures Contracts	$ 154,265	$ (108,521)	$ 137,330	$ (212,304)

7. FINANCIAL DERIVATIVE INSTR33

7. FINANCIAL DERIVATIVE INSTRUMENTS - Offsetting Assets and Liabilities (Details) - Futures Contracts - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Gross Amounts of Recognized Liabilities available to offset		$ (30,274)	$ (81,621)
Gross Amounts Offset in the Statement of Financial Condition		$ 30,274	50,035
Net Amounts of Assets Presented in the Statement of Financial Condition			$ (31,586)
Gross Amounts Not Offset in the Statement of Financial Condition
Financial Instruments
Cash Collateral Received	[1]
Net Amount			$ (31,586)
Offsetting the Financial Liabilities and Derivative Liabilities
Gross Amounts of Recognized Assets available to offset		$ 351,711	50,035
Gross Amounts Offset in the Statement of Financial Condition		(30,274)	$ (50,035)
Net Amounts of Liabilities Presented in the Statement of Financial Condition		$ 321,437
Gross Amounts Not Offset in the Statement of Financial Condition
Financial Instruments
Cash Collateral Pledged	[1]
Net Amount		$ 321,437
[1]	Does not include maintenance margin deposits held at the Clearing Broker of $4,848,777 for 2015 & $1,966,135 for 2014, respectively.

7. FINANCIAL DERIVATIVE INSTR34

7. FINANCIAL DERIVATIVE INSTRUMENTS (Details Narrative) - Integer	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Notes to Financial Statements
Futures contracts closed during period	7,682	10,959	24,965	45,539

10. FINANCIAL HIGHLIGHTS - Fina

10. FINANCIAL HIGHLIGHTS - Financial highlights of the Partnership (Details)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class A
Total return for Limited Partners
Total return prior to incentive fees	[1]	5.14%	(1.07%)	13.54%	(9.86%)
Incentive fees	[1]	(0.13%)	0.00%	(0.16%)	(0.01%)
Total return after incentive fees	[1]	5.01%	(1.07%)	13.38%	(9.87%)
Ratio to average net asset value
Expenses prior to incentive fees	[2]	4.70%	4.47%	4.89%	4.35%
Incentive fees	[1]	0.13%	0.01%	0.13%	0.01%
Total expenses		4.83%	4.48%	5.02%	4.36%
Net investment loss	[2],[3]	(4.61%)	(4.38%)	(4.79%)	(4.26%)
Class B
Total return for Limited Partners
Total return prior to incentive fees	[1]	5.66%	(0.57%)	15.25%	(8.50%)
Incentive fees	[1]	(0.12%)	0.00%	(0.21%)	0.00%
Total return after incentive fees	[1]	5.54%	(0.57%)	15.04%	(8.50%)
Ratio to average net asset value
Expenses prior to incentive fees	[2]	2.72%	2.46%	2.87%	2.34%
Incentive fees	[1]	0.12%	0.00%	0.17%	0.00%
Total expenses		2.84%	2.46%	3.04%	2.34%
Net investment loss	[2],[3]	(2.63%)	(2.37%)	(2.77%)	(2.25%)
Institutional Interests
Total return for Limited Partners
Total return prior to incentive fees	[1]	5.87%	(0.37%)	15.95%	(7.92%)
Incentive fees	[1]	(0.21%)	(0.01%)	(0.30%)	(0.01%)
Total return after incentive fees	[1]	5.66%	(0.38%)	15.65%	(7.93%)
Ratio to average net asset value
Expenses prior to incentive fees	[2]	1.78%	3.38%	1.95%	1.98%
Incentive fees	[1]	0.21%	0.01%	0.16%	0.01%
Total expenses		1.99%	3.39%	2.11%	1.99%
Net investment loss	[2],[3]	(1.69%)	(1.59%)	(1.85%)	(1.42%)
[1]	Not annualized.
[2]	Annualized
[3]	Excludes incentive fee.