Altegris QIM Futures Fund 10-Q15 Aug 162016 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2016USD ($)shares
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	Jun. 30, 2016
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 Public Float \| $	$ 0
Entity Common Stock, Shares Outstanding \| shares	0
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

STATEMENTS OF FINANCIAL CONDITI

STATEMENTS OF FINANCIAL CONDITION - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Equity in commodity broker account:
Cash	$ 4,178,131	$ 1,865,463
Restricted Cash	1,637,478	2,359,911
Restricted foreign currency (cost - $2,177,829 and $2,767,713)	2,175,917	1,888,055
Unrealized gain on open commodity futures contracts		30,235
Total equity in commodity broker account	7,991,526	6,143,664
Cash	12,595,453	10,250,155
Investment securities at fair value (cost - $10,316,994 and $10,297,864)	10,318,361	10,297,508
Interest receivable	243	1,064
Total assets	30,905,583	26,692,391
Liabilities: Equity in commodity broker account:
Foreign currency due to broker (proceeds - $2,464,921 and $2,768,014)	2,462,758	1,888,260
Unrealized loss on open commodity futures contracts	150,281
Total	2,613,039	1,888,260
Incentive fees payable	166,631	23,564
Subscriptions received in advance	92,000	329,557
Audit fee payable	83,354	81,564
Redemptions payable	42,361	584,501
Service fees payable	37,621	31,459
Management fee payable	28,267	25,461
Brokerage Commissions payable	18,934	5,645
Administrative fee payable	7,203	6,475
Other liabilities	48,973	45,620
Total liabilities	3,138,383	3,022,106
PARTNERS' CAPITAL (NET ASSET VALUE)
General Partner	871	802
Limited Partners	27,766,329	23,669,483
Total partners' capital (Net Asset Value)	27,767,200	23,670,285
Total liabilities and partners' capital	$ 30,905,583	$ 26,692,391

STATEMENTS OF FINANCIAL CONDIT3

STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Cost of restricted foreign currency equity in commodity broker account	$ 2,177,829	$ 2,767,713
Investment securities at cost	10,316,994	10,297,864
Proceeds of foreign currency liabilities in commodity broker account	$ 2,464,921	$ 2,768,014

CONDENSED SCHEDULE OF INVESTMEN

CONDENSED SCHEDULE OF INVESTMENTS - JUNE 30, 2016 - USD ($)		3 Months Ended		12 Months Ended
CONDENSED SCHEDULE OF INVESTMENTS - JUNE 30, 2016 - USD ($)		Jun. 30, 2016		Dec. 31, 2015
Fair Value		$ 10,318,361		$ 10,297,508
At Cost		10,316,994		10,297,864
Fixed Income Investments
Fair Value		$ 10,318,361		$ 10,297,508
% of Partners Capital		37.16%		43.50%
At Cost		$ 10,316,994		$ 10,297,864
Fixed Income Investments \| U.S. Government Agency Bonds and Notes
Fair Value		$ 5,569,396		$ 6,198,074
% of Partners Capital		20.06%		26.18%
At Cost		$ 5,568,169		$ 6,198,430
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.15%
Face Value		500,000
Fair Value		$ 499,983
% of Partners Capital		1.80%
Maturity Date		Jul. 8, 2016
Interest Rate/Yield	[1]	0.15%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.16%
Face Value		$ 600,000
Fair Value		$ 599,921
% of Partners Capital		2.16%
Maturity Date		Jul. 29, 2016
Interest Rate/Yield	[1]	0.16%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.24%
Face Value		$ 450,000		1,200,000
Fair Value		$ 449,878		$ 1,199,575
% of Partners Capital		1.62%		5.07%
Maturity Date		Aug. 9, 2016		Feb. 24, 2016
Interest Rate/Yield	[1]	0.24%		0.24%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.25%
Face Value		$ 300,000
Fair Value		$ 299,898
% of Partners Capital		1.08%
Maturity Date		Aug. 19, 2016
Interest Rate/Yield	[1]	0.25%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.28%
Face Value		$ 500,000
Fair Value		$ 499,701
% of Partners Capital		1.80%
Maturity Date		Sep. 16, 2016
Interest Rate/Yield	[1]	0.28%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.36%
Face Value		$ 500,000
Fair Value		$ 499,485
% of Partners Capital		1.80%
Maturity Date		Oct. 12, 2016
Interest Rate/Yield	[1]	0.36%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.36% 1
Face Value		$ 300,000
Fair Value		$ 299,664
% of Partners Capital		1.08%
Maturity Date		Oct. 21, 2016
Interest Rate/Yield	[1]	0.36%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.38%
Face Value		$ 500,000
Fair Value		$ 499,309
% of Partners Capital		1.80%
Maturity Date		Nov. 9, 2016
Interest Rate/Yield	[1]	0.38%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Mort Corp Disc Note, 0.00%
Face Value		$ 1,022,000
Fair Value		$ 1,022,000
% of Partners Capital		3.68%
Maturity Date		Jul. 1, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Mort Corp Disc Note, 0.25%
Face Value		$ 400,000
Fair Value		$ 399,883
% of Partners Capital		1.44%
Maturity Date		Aug. 12, 2016
Interest Rate/Yield	[1]	0.25%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Mort Corp Disc Note, 0.28%
Face Value		$ 500,000
Fair Value		$ 499,674
% of Partners Capital		1.80%
Maturity Date		Sep. 23, 2016
Interest Rate/Yield	[1]	0.28%
Fixed Income Investments \| U.S. Treasury Obligations
Fair Value		$ 399,832
% of Partners Capital		1.44%
At Cost		$ 399,662
Fixed Income Investments \| U.S. Treasury Obligations \| United States Treasury Bill, 0.23%
Face Value		400,000
Fair Value		$ 399,832
% of Partners Capital		1.44%
Maturity Date		Sep. 1, 2016
Interest Rate/Yield	[1]	0.23%
Fixed Income Investments \| Corporate Notes
Fair Value		$ 4,349,133		$ 4,099,434
% of Partners Capital		15.66%		17.32%
At Cost		$ 4,349,163		$ 4,099,434
Fixed Income Investments \| Corporate Notes \| Apple Inc., 0.00%
Face Value		300,000
Fair Value		$ 299,913
% of Partners Capital		1.08%
Maturity Date		Jul. 22, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Banco del Estado de Chile, NY, 0.40%
Face Value		$ 200,000		300,000
Fair Value		$ 200,000		$ 300,000
% of Partners Capital		0.72%		1.27%
Maturity Date		Jul. 15, 2016		Jan. 22, 2016
Interest Rate/Yield		0.40%	[1]	0.40%
Fixed Income Investments \| Corporate Notes \| Bridgestone Americas Inc., 0.00%
Face Value		$ 400,000
Fair Value		$ 399,996
% of Partners Capital		1.44%
Maturity Date		Jul. 1, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| CIBC World Markets Corp Disc Note, 0.00%
Face Value		$ 310,000
Fair Value		$ 309,900
% of Partners Capital		1.12%
Maturity Date		Jul. 8, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| The Chiba Bank Ltd., 0.50%
Face Value		$ 200,000
Fair Value		$ 200,000
% of Partners Capital		0.72%
Maturity Date		Jul. 1, 2016
Interest Rate/Yield	[1]	0.50%
Fixed Income Investments \| Corporate Notes \| DCAT LLC, 0.00%
Face Value		$ 200,000
Fair Value		$ 199,890
% of Partners Capital		0.72%
Maturity Date		Jul. 1, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Exxon Mobil Corp Disc Note, 0.00%
Face Value		$ 310,000
Fair Value		$ 309,904
% of Partners Capital		1.11%
Maturity Date		Jul. 7, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| National Rural Utilities Cooperative Finance Corp, 0.00%
Face Value		$ 210,000
Fair Value		$ 209,934
% of Partners Capital		0.75%
Maturity Date		Jul. 8, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Norinchukin Bank Disc Note, 0.42%
Face Value		$ 300,000
Fair Value		$ 300,000
% of Partners Capital		1.08%
Maturity Date		Jul. 8, 2016
Interest Rate/Yield	[1]	0.42%
Fixed Income Investments \| Corporate Notes \| The Shizouka Bank Ltd., 0.48%
Face Value		$ 270,000
Fair Value		$ 270,000
% of Partners Capital		0.97%
Maturity Date		Jul. 28, 2016
Interest Rate/Yield	[1]	0.48%
Fixed Income Investments \| Corporate Notes \| Sumitomo Mutsui Trust & Banking Co, 0.41%
Face Value		$ 310,000		$ 310,000
Fair Value		$ 310,000		$ 310,000
% of Partners Capital		1.12%		1.31%
Maturity Date		Jul. 15, 2016		Jan. 27, 2016
Interest Rate/Yield		0.41%	[1]	0.41%
Fixed Income Investments \| Corporate Notes \| Toronto Dominion Holdings (U.S.A.) Inc. , 0.00%
Face Value		$ 410,000
Fair Value		$ 409,867
% of Partners Capital		1.48%
Maturity Date		Jul. 8, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Victory Receivables Corp Disc Note, 0.00%
Face Value		$ 310,000
Fair Value		$ 309,951
% of Partners Capital		1.12%
Maturity Date		Jul. 6, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Wal-Mart Stores Inc., 0.00%
Face Value		$ 300,000
Fair Value		$ 299,920
% of Partners Capital		1.08%
Maturity Date		Jul. 12, 2016
Interest Rate/Yield	[1]	0.00%
Fixed Income Investments \| Corporate Notes \| Working Capital Management Co LP Disc Note, 0.00%
Face Value		$ 320,000
Fair Value		$ 319,858
% of Partners Capital		1.15%
Maturity Date		Jul. 29, 2016
Interest Rate/Yield	[1]	0.00%

[1]	The rate reported is the effective yield at time of purchase.

CONDENSED SCHEDULE OF INVESTME5

CONDENSED SCHEDULE OF INVESTMENTS - Futures Contracts	3 Months Ended	6 Months Ended	12 Months Ended
CONDENSED SCHEDULE OF INVESTMENTS - Futures Contracts	Jun. 30, 2016USD ($)Integer	Jun. 30, 2016USD ($)Integer	Dec. 31, 2015USD ($)Integer
Fair Value	$ 10,318,361	$ 10,318,361	$ 10,297,508
Futures Contracts
Number of Contracts \| Integer	373	373	442
Fair Value	$ (150,281)	$ (150,281)	$ 30,235
% of Partners Capital	(54.00%)	(54.00%)	0.13%
Futures Contracts \| Long Futures Contracts
Number of Contracts \| Integer	196	196	66
Fair Value	$ 63,297	$ 63,297	$ 5,827
% of Partners Capital	0.23%	0.23%	0.02%
Futures Contracts \| Long Futures Contracts \| Currencies
Number of Contracts \| Integer	3	3	28
Fair Value	$ (1,881)	$ (1,881)	$ 1,645
% of Partners Capital	(1.00%)	(1.00%)	0.01%
Expiration Dates		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Long Futures Contracts \| Energy
Number of Contracts \| Integer	11	11	3
Fair Value	$ (6,781)	$ (6,781)	$ (1,460)
% of Partners Capital	(2.00%)	(2.00%)	(0.01%)
Expiration Dates		Jul. 1, 2016	Feb. 1, 2016
Futures Contracts \| Long Futures Contracts \| Interest Rates
Number of Contracts \| Integer	22	22	1
Fair Value	$ 9,544	$ 9,544	$ 166
% of Partners Capital	0.03%	0.03%	0.00%
Expiration Dates		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Long Futures Contracts \| Stock Indices
Number of Contracts \| Integer	102	102	34
Fair Value	$ 41,745	$ 41,745	$ 5,476
% of Partners Capital	0.15%	0.15%	0.02%
Expiration Dates, Lower Range		Jul. 1, 2016	Jan. 1, 2016
Expiration Dates, Upper Range		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Long Futures Contracts \| Metals
Number of Contracts \| Integer	6	6
Fair Value	$ 1,437	$ 1,437
% of Partners Capital	0.01%	0.01%
Expiration Dates, Lower Range		Aug. 1, 2016
Expiration Dates, Upper Range		Sep. 1, 2016
Futures Contracts \| Long Futures Contracts \| Treasury Rates
Number of Contracts \| Integer	52	52
Fair Value	$ 19,233	$ 19,233
% of Partners Capital	0.07%	0.07%
Expiration Dates		Sep. 1, 2016
Futures Contracts \| Short Futures Contracts
Number of Contracts \| Integer	177	177	376
Fair Value	$ (213,578)	$ (213,578)	$ 24,408
% of Partners Capital	(0.77%)	(0.77%)	0.11%
Futures Contracts \| Short Futures Contracts \| Currencies
Number of Contracts \| Integer	26	26	13
Fair Value	$ 3,150	$ 3,150	$ 8,662
% of Partners Capital	0.01%	0.01%	0.04%
Expiration Dates		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Short Futures Contracts \| Energy
Number of Contracts \| Integer	3	3	15
Fair Value	$ 362	$ 362	$ (49,884)
% of Partners Capital	0.00%	0.00%	(0.21%)
Expiration Dates		Jul. 1, 2016	Feb. 1, 2016
Futures Contracts \| Short Futures Contracts \| Interest Rates
Number of Contracts \| Integer	4	4	59
Fair Value	$ (5,828)	$ (5,828)	$ 14,853
% of Partners Capital	(0.02%)	(0.02%)	0.06%
Expiration Dates		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Short Futures Contracts \| Stock Indices
Number of Contracts \| Integer	139	139	187
Fair Value	$ (208,488)	$ (208,488)	$ 25,420
% of Partners Capital	(0.75%)	(0.75%)	0.11%
Expiration Dates, Lower Range		Jul. 1, 2016	Jan. 1, 2016
Expiration Dates, Upper Range		Sep. 1, 2016	Mar. 1, 2016
Futures Contracts \| Short Futures Contracts \| Metals
Number of Contracts \| Integer	2	2	21
Fair Value	$ (2,519)	$ (2,519)	$ 27,641
% of Partners Capital	(0.01%)	(0.01%)	0.12%
Expiration Dates, Lower Range			Feb. 1, 2016
Expiration Dates, Upper Range			Mar. 1, 2016
Expiration Dates	Sep. 1, 2016
Futures Contracts \| Short Futures Contracts \| Treasury Rates
Number of Contracts \| Integer	3	3	81
Fair Value	$ (255)	$ (255)	$ (2,284)
% of Partners Capital	0.00%	0.00%	(0.01%)
Expiration Dates		Sep. 1, 2016	Mar. 1, 2016

CONDENSED SCHEDULE OF INVESTME6

CONDENSED SCHEDULE OF INVESTMENTS - December 31, 2015 - USD ($)		3 Months Ended		12 Months Ended
		Jun. 30, 2016		Dec. 31, 2015
Fair Value		$ 10,318,361		$ 10,297,508
At Cost		10,316,994		10,297,864
Fixed Income Investments
Fair Value		$ 10,318,361		$ 10,297,508
% of Partners Capital		37.16%		43.50%
At Cost		$ 10,316,994		$ 10,297,864
Fixed Income Investments \| U.S. Government Agency Bonds and Notes
Fair Value		$ 5,569,396		$ 6,198,074
% of Partners Capital		20.06%		26.18%
At Cost		$ 5,568,169		$ 6,198,430
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Farm Credit Bank Disc Note, 0.00%
Face Value				1,000,000
Fair Value				$ 999,998
% of Partners Capital				4.22%
Maturity Date				Jan. 4, 2016
Interest Rate/Yield	[1]			0.00%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.08%
Face Value				$ 500,000
Fair Value				$ 499,991
% of Partners Capital				2.11%
Maturity Date				Jan. 8, 2016
Interest Rate/Yield	[1]			0.08%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.13%
Face Value				$ 300,000
Fair Value				$ 299,971
% of Partners Capital				1.27%
Maturity Date				Jan. 27, 2016
Interest Rate/Yield	[1]			0.13%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.23%
Face Value				$ 500,000
Fair Value				$ 499,889
% of Partners Capital				2.11%
Maturity Date				Feb. 5, 2016
Interest Rate/Yield	[1]			0.23%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.23% 1
Face Value				$ 800,000
Fair Value				$ 799,761
% of Partners Capital				3.38%
Maturity Date				Feb. 16, 2016
Interest Rate/Yield	[1]			0.23%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.23% 2
Face Value				$ 250,000
Fair Value				$ 249,924
% of Partners Capital				1.05%
Maturity Date				Feb. 17, 2016
Interest Rate/Yield	[1]			0.23%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.24%
Face Value		450,000		$ 1,200,000
Fair Value		$ 449,878		$ 1,199,575
% of Partners Capital		1.62%		5.07%
Maturity Date		Aug. 9, 2016		Feb. 24, 2016
Interest Rate/Yield	[1]	0.24%		0.24%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank Disc Note, 0.34%
Face Value				$ 1,000,000
Fair Value				$ 998,960
% of Partners Capital				4.22%
Maturity Date				Apr. 20, 2016
Interest Rate/Yield	[1]			0.34%
Fixed Income Investments \| U.S. Government Agency Bonds and Notes \| Federal Home Loan Bank, 0.38%
Face Value				$ 650,000
Fair Value				$ 650,005
% of Partners Capital				2.75%
Maturity Date				Feb. 19, 2016
Interest Rate/Yield				0.38%
Fixed Income Investments \| Corporate Notes
Fair Value		$ 4,349,133		$ 4,099,434
% of Partners Capital		15.66%		17.32%
At Cost		$ 4,349,163		$ 4,099,434
Fixed Income Investments \| Corporate Notes \| Apple Inc., 0.30%
Face Value				300,000
Fair Value				$ 299,928
% of Partners Capital				1.27%
Maturity Date				Jan. 13, 2016
Interest Rate/Yield	[1]			0.30%
Fixed Income Investments \| Corporate Notes \| Banco del Estado de Chile, NY, 0.40%
Face Value		200,000		$ 300,000
Fair Value		$ 200,000		$ 300,000
% of Partners Capital		0.72%		1.27%
Maturity Date		Jul. 15, 2016		Jan. 22, 2016
Interest Rate/Yield		0.40%	[1]	0.40%
Fixed Income Investments \| Corporate Notes \| Chevron Corp Disc Note, 0.26%
Face Value				$ 460,000
Fair Value				$ 459,898
% of Partners Capital				1.94%
Maturity Date				Jan. 6, 2016
Interest Rate/Yield	[1]			0.26%
Fixed Income Investments \| Corporate Notes \| DCAT LLC, 0.35%
Face Value				$ 200,000
Fair Value				$ 199,925
% of Partners Capital				0.84%
Maturity Date				Jan. 13, 2016
Interest Rate/Yield	[1]			0.35%
Fixed Income Investments \| Corporate Notes \| Exxon Mobile Corp Disc Note, 0.30%
Face Value				$ 420,000
Fair Value				$ 419,879
% of Partners Capital				1.77%
Maturity Date				Jan. 12, 2016
Interest Rate/Yield	[1]			0.30%
Fixed Income Investments \| Corporate Notes \| General Electric Co., 0.15%
Face Value				$ 450,000
Fair Value				$ 449,993
% of Partners Capital				1.90%
Maturity Date				Jan. 4, 2016
Interest Rate/Yield	[1]			0.15%
Fixed Income Investments \| Corporate Notes \| National Rural Utilities Cooperative Finance Corp, 0.29%
Face Value				$ 200,000
Fair Value				$ 199,945
% of Partners Capital				0.84%
Maturity Date				Jan. 14, 2016
Interest Rate/Yield	[1]			0.29%
Fixed Income Investments \| Corporate Notes \| Norinchukin Bank Disc Note, 0.39%
Face Value				$ 300,000
Fair Value				$ 300,000
% of Partners Capital				1.27%
Maturity Date				Jan. 15, 2016
Interest Rate/Yield				0.39%
Fixed Income Investments \| Corporate Notes \| Sumitomo Mutsui Banking Co, 0.40%
Face Value				$ 310,000
Fair Value				$ 310,000
% of Partners Capital				1.31%
Maturity Date				Jan. 27, 2016
Interest Rate/Yield				0.40%
Fixed Income Investments \| Corporate Notes \| Sumitomo Mutsui Trust & Banking Co, 0.41%
Face Value		$ 310,000		$ 310,000
Fair Value		$ 310,000		$ 310,000
% of Partners Capital		1.12%		1.31%
Maturity Date		Jul. 15, 2016		Jan. 27, 2016
Interest Rate/Yield		0.41%	[1]	0.41%
Fixed Income Investments \| Corporate Notes \| The Chiba Bank Ltd, 0.46%
Face Value				$ 300,000
Fair Value				$ 300,000
% of Partners Capital				1.27%
Maturity Date				Jan. 8, 2016
Interest Rate/Yield				0.46%
Fixed Income Investments \| Corporate Notes \| The Walt Disney Co, 0.30%
Face Value				$ 250,000
Fair Value				$ 249,958
% of Partners Capital				1.06%
Maturity Date				Jan. 20, 2016
Interest Rate/Yield	[1]			0.30%
Fixed Income Investments \| Corporate Notes \| Working Capital Management Co LP Disc Note, 0.45%
Face Value				$ 300,000
Fair Value				$ 299,908
% of Partners Capital				1.27%
Maturity Date				Jan. 14, 2016
Interest Rate/Yield	[1]			0.45%

[1]	The rate reported is the effective yield at time of purchase.

STATEMENTS OF INCOME (LOSS)

STATEMENTS OF INCOME (LOSS) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF INCOME (LOSS) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Gain (loss) on trading of commodity futures
Realized	$ 935,848	$ 2,995,959	$ 3,157,248	$ 3,248,110
Change in unrealized	53,133	(59,383)	(180,516)	75,626
Brokerage Commissions	(101,351)	(109,009)	(197,568)	(251,550)
Gain (loss) from trading futures	887,630	2,827,567	2,779,164	3,072,186
Gain (loss) on trading of securities
Realized	2,855	1,241	4,965	4,269
Change in unrealized	299	431	1,723	5,596
Gain (loss) from trading securities	3,154	1,672	6,688	9,865
Gain (loss) on trading of foreign currency
Realized	(3,376)	(14,479)	(13,395)	(13,051)
Change in unrealized	1,254	(238)	155	(379)
Gain (loss) from trading foreign currency	(2,122)	(14,717)	(13,240)	(13,430)
Total trading gains (losses)	888,662	2,814,522	2,772,612	3,068,621
Income
Interest income	11,273	7,430	20,524	16,871
Expenses
Incentive fees	166,631	11,082	328,539	11,506
Service fees	90,748	89,878	176,067	194,948
Management fee	82,517	89,141	160,789	202,289
Professional fees	56,739	55,935	116,146	116,392
Administrative fee	21,015	22,861	40,923	50,500
Interest expense	14,750	16,164	22,458	16,197
Other expenses	22,730	43,296	34,568	79,294
Total expenses	455,130	328,357	879,490	671,126
Net investment loss	(443,857)	(320,927)	(858,966)	(654,255)
NET INCOME (LOSS)	$ 444,805	$ 2,493,595	$ 1,913,646	$ 2,414,366

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, 2014	$ 40,347,727	$ 22,069,532	$ 13,349,109	$ 4,928,388	$ 698
Transfers
Capital additions	279,509	45,000	234,509
Capital withdrawals	(15,338,850)	(6,853,597)	(4,767,558)	(3,717,695)
Net investment loss	(654,255)	(464,562)	(162,347)	(27,329)	(17)
Net realized gain (loss) from investments (net of brokerage commissions and foreign currency)	2,987,778	1,801,265	1,036,334	150,106	73
Net change in unrealized gain (loss) from investments	80,843	41,255	25,337	14,251
Net income (loss)	2,414,366	1,377,958	899,324	137,028	56
Balances at Jun. 30, 2015	27,702,752	16,638,893	9,715,384	1,347,721	754
Balances at Dec. 31, 2015	23,670,285	15,294,712	6,924,210	1,450,561	802
Transfers
Capital additions	3,208,142	3,090,142	118,000
Capital withdrawals	(1,024,873)	(827,156)	(197,717)
Net investment loss	(858,966)	(621,946)	(195,056)	(41,941)	(23)
Net realized gain (loss) from investments (net of brokerage commissions and foreign currency)	2,951,250	1,945,985	829,979	175,189	97
Net change in unrealized gain (loss) from investments	(178,638)	(120,243)	(48,130)	(10,260)	(5)
Net income (loss)	1,913,646	1,203,796	586,793	122,988	69
Balances at Jun. 30, 2016	$ 27,767,200	$ 18,761,494	$ 7,431,286	$ 1,573,549	$ 871

1. ORGANIZATION AND SIGNIFICANT

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2016
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. (Advisors or the "General Partner"). The Partnership speculatively trades commodity futures contracts, and may trade options on futures contracts, forward currency contracts and other commodity interests. The objective of the Partnerships 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 Partnerships 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 June 30, 2016 and December 31, 2015, and reported amounts of income and expenses for the three and six months ended June 30, 2016 and 2015, respectively. Management believes that the estimates utilized in preparing the Partnerships 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 Partnerships 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 Partnerships 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 contracts 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 I or Level 2 of the fair value hierarchy. As of June 30, 2016 and December 31, 2015, none of the Partnerships 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 June 30, 2016 and December 31, 2015, none of the Partnerships 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 Partnerships valuation methodology during the six month period ended June 30, 2016 and the year ended December 31, 2015. The following table presents information about the Partnerships assets and liabilities measured at fair value as of June 30, 2016 and December 31, 2015: Balance as of June 30, 2016 Level 1 Level 2 Level 3 June 30, 2016 Assets Futures contracts (1) $ 75,913 $ - $ - $ 75,913 U.S. Government agency bonds and notes 5,569,396 - - 5,569,396 Corporate notes - 4,349,133 - 4,349,133 U.S. Treasury obligations - 399,832 - 399,832 Total Assets $ 5,645,309 $ 4,748,965 $ - $ 10,394,274 Liabilities Futures contracts (1) $ (226,194 ) $ - $ - $ (226,194 ) December 31, 2015 Level 1 Level 2 Level 3 Balance as of December 31, 2015 Assets Futures contracts (1) $ 114,980 $ - $ - $ 114,980 U.S. Government agency bonds and notes 6,198,074 - - 6,198,074 Corporate notes - 4,099,434 - 4,099,434 Total Assets $ 6,313,054 $ 4,099,434 $ - $ 10,412,488 Liabilities Futures contracts (1) $ (84,745 ) $ - $ - $ (84,745 ) (1) See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category. For the six month period ended June 30, 2016 and the year ended December 31, 2015, there were no transfers between Level 1 and Level 2 assets and liabilities. For the six month period ended June 30, 2016 and the year ended December 31, 2015, 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 futures contracts in foreign markets, 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 Partnerships 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. J.P. Morgan Chase Bank, N.A. (the Custodian) is the Partnerships custodian. SG Americas Securities, LLC (the Clearing Broker) is the Partnerships commodity broker. A portion of the Partnerships assets are held as initial margin or option premiums (in cash or Treasury securities) in the Partnerships brokerage accounts at the Clearing Broker. The Partnerships assets not deposited at the Clearing Broker are deposited with either the Custodian or held in bank cash accounts at Northern Trust Company (and used to pay Partnership operating expenses). For the Partnerships cash deposited at the Custodian, the Partnership receives cash management services from J.P. Morgan Investment Management Inc. (JPMIM). E. Futures Contracts The Partnership engages 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 Statements of Financial Condition represent the amount of any short fall in the Partnerships 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 June 30, 2016 and December 31, 2015 are reflected within the Condensed Schedules of Investments. F. Foreign Currency Transactions The Partnerships 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 At times, the Partnerships 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. Both restricted cash and restricted foreign currency are held as margin collateral deposits for futures transactions. H. Offering Costs Offering costs incurred in connection with the ongoing offering of the Partnerships interests are borne by the Partnership. These costs include, but are not limited to, legal fees pertaining to updating the Partnerships 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 Partnerships 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 June 30, 2016 or December 31, 2015. However, the Partnerships 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 June 30, 2016 and December 31, 2015 or for the three and six months ended June 30, 2016 and 2015.

2. PARTNERS CAPITAL

2. PARTNERS CAPITAL	6 Months Ended
2. PARTNERS CAPITAL	Jun. 30, 2016
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 Partners 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 Limited Partners (each, a Limited Partner and collectively the Limited 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 Partnerships 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 six months ended June 30, 2016 and 2015.

3. RELATED PARTY TRANSACTIONS

3. RELATED PARTY TRANSACTIONS	6 Months Ended
3. RELATED PARTY TRANSACTIONS	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015, there were no Special Limited Partners. Total management fees earned by the General Partner for the three and six months ended June 30, 2016 and 2015 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 six months ended June 30, 2016, administrative fees for Class A Interests were $14,936 and $28,882, respectively, and administrative fees for Class B Interests were $6,079 and $12,041, respectively. For the three and six months ended June 30, 2015, administrative fees for Class A Interests were $14,504 and $31,906, respectively, and administrative fees for Class B Interests were $8,357 and $18,594, respectively. C. Altegris Investments, L.L.C. and Altegris Clearing Solutions, L.L.C. Altegris Investments, L.L.C. (Altegris Investments), an affiliate of the General Partner, is registered as a broker-dealer with the SEC and effective as of December 31, 2014, was converted from an Arkansas corporation (Altegris Investments, Inc.) to a Delaware limited liability company (Altegris Investments, L.L.C.). For the year ended December 31, 2015, Altegris Clearing Solutions, L.L.C. (Altegris Clearing Solutions), an affiliate of the General Partner and an introducing broker registered with the CFTC, was the Partnerships introducing broker. On December 31, 2014, Altegris Futures was merged with and into Altegris Clearing Solutions and thereafter dissolved. Altegris Clearing Solutions was the surviving entity (Altegris Clearing Solutions is referred to as the introducing broker of the Partnership). 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. The Partnerships 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 its introducing broker, at a minimum, brokerage charges at a flat rate of 0.125% (1.5% annually) of the Partnerships 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 June 30, 2016 and December 31, 2015, respectively, the Partnership had charges for brokerage-related services payable to Altegris Clearing Solutions of $16,696 and $2,993 and service fees payable to Altegris Investments of $5,147 and $5,155, respectively. The following tables show the fees paid to Altegris Investments and Altegris Clearing Solutions for the three and six months ended June 30, 2016 and 2015, respectively: Three months ended Six months ended Three months ended Six months ended June 30, 2016 June 30, 2016 June 30, 2015 June 30, 2015 Altegris Clearing Solutions - Brokerage Commission fees $ 52,309 $ 93,648 $ 17,936 $ 85,453 Altegris Investments- Service fees 15,512 31,675 18,053 38,560 Total $ 67,821 $ 125,323 $ 35,989 $ 124,013 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	6 Months Ended
4. ADVISORY CONTRACT	Jun. 30, 2016
Notes to Financial Statements
ADVISORY CONTRACT	NOTE 4 - ADVISORY CONTRACT The Partnerships 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 partners interest, achieved from commodity trading. The incentive fee is accrued on a monthly basis and paid quarterly. Incentive fees are reflected in the Statements of Income (Loss).

5. SERVICE FEES

5. SERVICE FEES	6 Months Ended
5. SERVICE FEES	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015. For the three and six months ended June 30, 2016, service fees for Class A Interests were $90,748 and $176,067, respectively. For the three and six months ended June 30, 2015, service fees for Class A Interests were $89,878 and $194,948, respectively.

6. BROKERAGE COMMISSIONS AND CH

6. BROKERAGE COMMISSIONS AND CHARGES	6 Months Ended
6. BROKERAGE COMMISSIONS AND CHARGES	Jun. 30, 2016
Brokers and Dealers [Abstract]
BROKERAGE COMMISSIONS AND CHARGES	NOTE 6 - BROKERAGE COMMISSIONS AND CHARGES The Partnership is subject to monthly brokerage charges equal to the greater of: (A) actual commissions and expenses paid to the Clearing Broker by the Partnership; or (B) an amount equal to 0.125% of the management fee net asset value of all Limited Partners month-end capital account balances (1.50% annually) (the Minimum Amount). If actual commissions and expenses paid to the Clearing Broker in a month (in (A) above) are less than the Minimum Amount, the Partnership will pay to the Introducing Broker the difference as payment for brokerage-related services, including, but not limited to, monitoring trade, execution, clearing, custodial and distribution services provided to the Partnership. If actual commissions and expenses paid to the Clearing Broker in a month (in (A) above) are greater than the Minimum Amount, the Partnership pays only the amounts described in (A) above. The Partnerships payments of brokerage commissions to the Clearing Broker for clearing trades on its behalf, and payments to the Introducing Broker for brokerage-related services, if any, are reflected in the Statements of Income (Loss) as Brokerage Commissions.

7. FINANCIAL DERIVATIVE INSTRUM

7. FINANCIAL DERIVATIVE INSTRUMENTS	6 Months Ended
7. FINANCIAL DERIVATIVE INSTRUMENTS	Jun. 30, 2016
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 Partnerships 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 June 30, 2016 and December 31, 2015. 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. June 30, 2016 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 3,150 $ (1,881 ) $ 1,269 Energy 362 (6,781 ) (6,419 ) Interest Rates 9,544 (5,828 ) 3,716 Metals 1,722 (2,804 ) (1,082 ) Stock Indices 41,745 (208,488 ) (166,743 ) Treasury Rates 19,390 (412 ) 18,978 $ 75,913 $ (226,194 ) $ (150,281 ) December 31, 2015 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 14,059 $ (3,752 ) $ 10,307 Energy - (51,344 ) (51,344 ) Interest Rates 15,150 (130 ) 15,020 Metals 29,697 (2,056 ) 27,641 Stock Indices 52,912 (22,016 ) 30,896 Treasury Rates 3,162 (5,447 ) (2,285 ) $ 114,980 $ (84,745 ) $ 30,235 The following presents the trading results of the Partnerships derivative trading and information related to the volume of the Partnerships derivative activity for the three months ended June 30, 2016 and 2015. 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 June 30, 2016 Type of Change in Futures Contracts Realized Unrealized Currencies $ 103,235 $ (46,733 ) . Energy (58,473 ) (27,923 ) Interest Rates (19,013 ) 55,776 Metals 259,505 (49,750 ) Stock Indices 699,012 86,754 Treasury Rates (48,418 ) 35,009 $ 935,848 $ 53,133 For the three months ended June 30, 2016, the number of futures contracts closed was 5,592. Six Months Ended June 30, 2016 Type of Change in Futures Contracts Realized Unrealized Currencies $ 35,524 $ (9,038 ) . Energy (193,459 ) 44,926 Interest Rates 612,331 (11,304 ) Metals 126,873 (28,723 ) Stock Indices 2,179,401 (197,640 ) Treasury Rates 396,578 21,263 $ 3,157,248 $ (180,516 ) For the six months ended June 30, 2016, the number of futures contracts closed was 11,309. Three Months Ended June 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 1,213,248 $ (7,764 ) . Energy (131,041 ) (47,170 ) Interest Rates 1,078,557 (9,577 ) Metals 53,608 (10,777 ) Stock Indices (148,894 ) 161,619 Treasury Rates 930,481 (145,714 ) $ 2,995,959 $ (59,383 ) For the three months ended June 30, 2015, the number of futures contracts closed was 9,885. Six Months Ended June 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 438,956 $ (8,047 ) . Energy 166,200 (8,406 ) Interest Rates 1,056,238 (41,143 ) Metals (70,954 ) 3,105 Stock Indices 390,535 147,052 Treasury Rates 1,267,135 (16,935 ) $ 3,248,110 $ 75,626 For the six months ended June 30, 2015, the number of futures contracts closed was 17,283. 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 Partnerships positions. These events include the following: (i) the Clearing Broker is directed or required by a regulatory or self-regulatory organization, (ii) the Clearing Broker determines, at its discretion, that the risk in the Partnerships account must be reduced for protection of the Clearing Broker, (iii) upon the Partnerships breach or failure to perform on its contractual agreements with the Clearing Broker, (iv) upon the commencement of bankruptcy, insolvency or similar proceeding for the protection of creditors against the Partnership, or (v) upon the dissolution, winding-up, liquidation or merger of the Partnership. 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 June 30, 2016 Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received (1) Net Amount Description Commodity futures contracts $ 75,913 $ (75,913 ) $ - $ - $ - $ - Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of June 30, 2016 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged (1) Net Amount Description Commodity futures contracts $ (226,194 ) $ 75,913 $ (150,281 ) $ - $ - $ (150,281 ) Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2015 Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received (1) Net Amount Description Commodity futures contracts $ 114,980 $ (84,745 ) $ 30,235 $ - $ - $ 30,235 Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2015 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged (1) Net Amount Description Commodity futures contracts $ (84,745 ) $ 84,745 $ - $ - $ - $ - (1) The Partnership posted additional collateral of $3,813,395 for 2016 & $4,247,966 for 2015, respectively, with the Clearing Broker. The Partnership may post collateral due to a variety of factors that may include, without limitation, initial margin or other requirements that are based on notional amounts which may exceed the fair value of the derivative contract.

8. FINANCIAL INSTRUMENTS, OFF-B

8. FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND UNCERTAINTIES	6 Months Ended
	Jun. 30, 2016
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	6 Months Ended
9. INDEMNIFICATIONS	Jun. 30, 2016
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 Partnerships 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	6 Months Ended
10. FINANCIAL HIGHLIGHTS	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015. This information has been derived from information presented in the financial statements. Three Months ended June 30, 2016 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 2.08 % 2.59 % 2.80 % Incentive fees (0.55 %) (0.71 %) (0.93 %) Total return after incentive fees 1.53 % 1.88 % 1.87 % Ratio to average net asset value Expenses prior to incentive fees (2) 5.02 % 2.97 % 2.14 % Incentive fees (3) 0.56 % 0.70 % 0.92 % Total expenses 5.58 % 3.67 % 3.06 % Net investment loss (1) (2) (7.27 %) (5.60 %) (5.66 %) Six Months ended June 30, 2016 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.83 % 9.92 % 10.36 % Incentive fees (1.28 %) (1.39 %) (1.88 %) Total return after incentive fees 7.55 % 8.53 % 8.48 % Ratio to average net asset value Expenses prior to incentive fees (2) 4.96 % 2.89 % 2.07 % Incentive fees (3) 1.19 % 1.30 % 1.77 % Total expenses 6.15 % 4.19 % 3.84 % Net investment loss (1) (2) (7.19 %) (5.34 %) (5.45 %) Three Months ended June 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.61 % 9.15 % 9.37 % Incentive fees (0.02 %) (0.07 %) (0.07 %) Total return after incentive fees 8.59 % 9.08 % 9.30 % Ratio to average net asset value Expenses prior to incentive fees (2) 5.29 % 3.20 % 2.35 % Incentive fees (3) 0.02 % 0.07 % 0.07 % Total expenses 5.31 % 3.27 % 2.42 % Net investment loss (1) (2) (5.18 %) (3.10 %) (2.24 %) Six Months ended June 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.00 % 9.08 % 9.52 % Incentive fees (0.02 %) (0.08 %) (0.07 %) Total return after incentive fees 7.98 % 9.00 % 9.45 % Ratio to average net asset value Expenses prior to incentive fees (2) 4.97 % 2.92 % 2.04 % Incentive fees (3) 0.02 % 0.07 % 0.04 % Total expenses 4.99 % 2.99 % 2.08 % Net investment loss (1) (2) (4.87 %) (2.82 %) (1.93 %) 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 Partners 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	6 Months Ended
11. SUBSEQUENT EVENTS	Jun. 30, 2016
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, and concluded that no events subsequent to June 30, 2016 have occurred that would require recognition or disclosure, except as noted below. From July 1, 2016 through August 12, 2016, the Partnership had subscriptions of $266,160 and redemptions of $72,819. Management has determined there are no additional matters requiring disclosure.

1. ORGANIZATION AND SIGNIFICA20

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Methods of Reporting	B. Method of Reporting The Partnerships 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 June 30, 2016 and December 31, 2015, and reported amounts of income and expenses for the three and six months ended June 30, 2016 and 2015, respectively. Management believes that the estimates utilized in preparing the Partnerships 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 Partnerships 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 Partnerships 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 contracts 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 I or Level 2 of the fair value hierarchy. As of June 30, 2016 and December 31, 2015, none of the Partnerships 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 June 30, 2016 and December 31, 2015, none of the Partnerships 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 Partnerships valuation methodology during the six month period ended June 30, 2016 and the year ended December 31, 2015. The following table presents information about the Partnerships assets and liabilities measured at fair value as of June 30, 2016 and December 31, 2015: Balance as of June 30, 2016 Level 1 Level 2 Level 3 June 30, 2016 Assets Futures contracts (1) $ 75,913 $ - $ - $ 75,913 U.S. Government agency bonds and notes 5,569,396 - - 5,569,396 Corporate notes - 4,349,133 - 4,349,133 U.S. Treasury obligations - 399,832 - 399,832 Total Assets $ 5,645,309 $ 4,748,965 $ - $ 10,394,274 Liabilities Futures contracts (1) $ (226,194 ) $ - $ - $ (226,194 ) December 31, 2015 Level 1 Level 2 Level 3 Balance as of December 31, 2015 Assets Futures contracts (1) $ 114,980 $ - $ - $ 114,980 U.S. Government agency bonds and notes 6,198,074 - - 6,198,074 Corporate notes - 4,099,434 - 4,099,434 Total Assets $ 6,313,054 $ 4,099,434 $ - $ 10,412,488 Liabilities Futures contracts (1) $ (84,745 ) $ - $ - $ (84,745 ) (1) See Note 7. "Financial Derivative Instruments" for the fair value in each type of contracts within this category. For the six month period ended June 30, 2016 and the year ended December 31, 2015, there were no transfers between Level 1 and Level 2 assets and liabilities. For the six month period ended June 30, 2016 and the year ended December 31, 2015, 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 futures contracts in foreign markets, 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 Partnerships 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. J.P. Morgan Chase Bank, N.A. (the Custodian) is the Partnerships custodian. SG Americas Securities, LLC (the Clearing Broker) is the Partnerships commodity broker. A portion of the Partnerships assets are held as initial margin or option premiums (in cash or Treasury securities) in the Partnerships brokerage accounts at the Clearing Broker. The Partnerships assets not deposited at the Clearing Broker are deposited with either the Custodian or held in bank cash accounts at Northern Trust Company (and used to pay Partnership operating expenses). For the Partnerships cash deposited at the Custodian, the Partnership receives cash management services from J.P. Morgan Investment Management Inc. (JPMIM).
Futures Contracts	E. Futures Contracts The Partnership engages 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 Statements of Financial Condition represent the amount of any short fall in the Partnerships 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 June 30, 2016 and December 31, 2015 are reflected within the Condensed Schedules of Investments.
Foreign Currency Transactions	F. Foreign Currency Transactions The Partnerships 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 At times, the Partnerships 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. Both restricted cash and restricted foreign currency are held as margin collateral deposits for futures transactions.
Offering Costs	H. Offering Costs Offering costs incurred in connection with the ongoing offering of the Partnerships interests are borne by the Partnership. These costs include, but are not limited to, legal fees pertaining to updating the Partnerships 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 Partnerships 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 June 30, 2016 or December 31, 2015. However, the Partnerships 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 June 30, 2016 and December 31, 2015 or for the three and six months ended June 30, 2016 and 2015.

1. ORGANIZATION AND SIGNIFICA21

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Partnership's assets and liabilities measured at fair value	Balance as of June 30, 2016 Level 1 Level 2 Level 3 June 30, 2016 Assets Futures contracts (1) $ 75,913 $ - $ - $ 75,913 U.S. Government agency bonds and notes 5,569,396 - - 5,569,396 Corporate notes - 4,349,133 - 4,349,133 U.S. Treasury obligations - 399,832 - 399,832 Total Assets $ 5,645,309 $ 4,748,965 $ - $ 10,394,274 Liabilities Futures contracts (1) $ (226,194 ) $ - $ - $ (226,194 ) December 31, 2015 Level 1 Level 2 Level 3 Balance as of December 31, 2015 Assets Futures contracts (1) $ 114,980 $ - $ - $ 114,980 U.S. Government agency bonds and notes 6,198,074 - - 6,198,074 Corporate notes - 4,099,434 - 4,099,434 Total Assets $ 6,313,054 $ 4,099,434 $ - $ 10,412,488 Liabilities Futures contracts (1) $ (84,745 ) $ - $ - $ (84,745 ) (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)	6 Months Ended
3. RELATED PARTY TRANSACTIONS (Tables)	Jun. 30, 2015
Related Party Transactions Tables
Fees paid to Altegris Investments and Altegris Futures	Three months ended Six months ended Three months ended Six months ended June 30, 2016 June 30, 2016 June 30, 2015 June 30, 2015 Altegris Clearing Solutions - Brokerage Commission fees $ 52,309 $ 93,648 $ 17,936 $ 85,453 Altegris Investments- Service fees 15,512 31,675 18,053 38,560 Total $ 67,821 $ 125,323 $ 35,989 $ 124,013

7. FINANCIAL DERIVATIVE INSTR23

7. FINANCIAL DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
7. FINANCIAL DERIVATIVE INSTRUMENTS (Tables)	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative contracts	June 30, 2016 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 3,150 $ (1,881 ) $ 1,269 Energy 362 (6,781 ) (6,419 ) Interest Rates 9,544 (5,828 ) 3,716 Metals 1,722 (2,804 ) (1,082 ) Stock Indices 41,745 (208,488 ) (166,743 ) Treasury Rates 19,390 (412 ) 18,978 $ 75,913 $ (226,194 ) $ (150,281 ) December 31, 2015 Asset Liability Type of Derivatives Derivatives Net Futures Contracts Fair Value Fair Value Fair Value Currencies $ 14,059 $ (3,752 ) $ 10,307 Energy - (51,344 ) (51,344 ) Interest Rates 15,150 (130 ) 15,020 Metals 29,697 (2,056 ) 27,641 Stock Indices 52,912 (22,016 ) 30,896 Treasury Rates 3,162 (5,447 ) (2,285 ) $ 114,980 $ (84,745 ) $ 30,235
Trading results of the Partnership's derivative trading and information related to the volume of the Partnership's derivative activity	Three Months Ended June 30, 2016 Type of Change in Futures Contracts Realized Unrealized Currencies $ 103,235 $ (46,733 ) . Energy (58,473 ) (27,923 ) Interest Rates (19,013 ) 55,776 Metals 259,505 (49,750 ) Stock Indices 699,012 86,754 Treasury Rates (48,418 ) 35,009 $ 935,848 $ 53,133 For the three months ended June 30, 2016, the number of futures contracts closed was 5,592. Six Months Ended June 30, 2016 Type of Change in Futures Contracts Realized Unrealized Currencies $ 35,524 $ (9,038 ) . Energy (193,459 ) 44,926 Interest Rates 612,331 (11,304 ) Metals 126,873 (28,723 ) Stock Indices 2,179,401 (197,640 ) Treasury Rates 396,578 21,263 $ 3,157,248 $ (180,516 ) For the six months ended June 30, 2016, the number of futures contracts closed was 11,309. Three Months Ended June 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 1,213,248 $ (7,764 ) . Energy (131,041 ) (47,170 ) Interest Rates 1,078,557 (9,577 ) Metals 53,608 (10,777 ) Stock Indices (148,894 ) 161,619 Treasury Rates 930,481 (145,714 ) $ 2,995,959 $ (59,383 ) For the three months ended June 30, 2015, the number of futures contracts closed was 9,885. Six Months Ended June 30, 2015 Type of Change in Futures Contracts Realized Unrealized Currencies $ 438,956 $ (8,047 ) . Energy 166,200 (8,406 ) Interest Rates 1,056,238 (41,143 ) Metals (70,954 ) 3,105 Stock Indices 390,535 147,052 Treasury Rates 1,267,135 (16,935 ) $ 3,248,110 $ 75,626 For the six months ended June 30, 2015, the number of futures contracts closed was 17,283.
Disclosures about Offsetting Assets and Liabilities	Gross Amounts Not Offset in the Statement of Financial Condition As of June 30, 2016 Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received (1) Net Amount Description Commodity futures contracts $ 75,913 $ (75,913 ) $ - $ - $ - $ - Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of June 30, 2016 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged (1) Net Amount Description Commodity futures contracts $ (226,194 ) $ 75,913 $ (150,281 ) $ - $ - $ (150,281 ) Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2015 Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Assets Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Received (1) Net Amount Description Commodity futures contracts $ 114,980 $ (84,745 ) $ 30,235 $ - $ - $ 30,235 Offsetting the Financial Liabilities and Derivative Liabilities Gross Amounts Not Offset in the Statement of Financial Condition As of December 31, 2015 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statement of Financial Condition Net Amounts of Liabilities Presented in the Statement of Financial Condition Financial Instruments Cash Collateral Pledged (1) Net Amount Description Commodity futures contracts $ (84,745 ) $ 84,745 $ - $ - $ - $ - (1) The Partnership posted additional collateral of $3,813,395 for 2016 & $4,247,966 for 2015, respectively, with the Clearing Broker.

10. FINANCIAL HIGHLIGHTS (Table

10. FINANCIAL HIGHLIGHTS (Tables)	6 Months Ended
10. FINANCIAL HIGHLIGHTS (Tables)	Jun. 30, 2016
Quarterly Financial Information Disclosure [Abstract]
Financial highlights of the Partnership	Three Months ended June 30, 2016 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 2.08 % 2.59 % 2.80 % Incentive fees (0.55 %) (0.71 %) (0.93 %) Total return after incentive fees 1.53 % 1.88 % 1.87 % Ratio to average net asset value Expenses prior to incentive fees (2) 5.02 % 2.97 % 2.14 % Incentive fees (3) 0.56 % 0.70 % 0.92 % Total expenses 5.58 % 3.67 % 3.06 % Net investment loss (1) (2) (7.27 %) (5.60 %) (5.66 %) Six Months ended June 30, 2016 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.83 % 9.92 % 10.36 % Incentive fees (1.28 %) (1.39 %) (1.88 %) Total return after incentive fees 7.55 % 8.53 % 8.48 % Ratio to average net asset value Expenses prior to incentive fees (2) 4.96 % 2.89 % 2.07 % Incentive fees (3) 1.19 % 1.30 % 1.77 % Total expenses 6.15 % 4.19 % 3.84 % Net investment loss (1) (2) (7.19 %) (5.34 %) (5.45 %) Three Months ended June 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.61 % 9.15 % 9.37 % Incentive fees (0.02 %) (0.07 %) (0.07 %) Total return after incentive fees 8.59 % 9.08 % 9.30 % Ratio to average net asset value Expenses prior to incentive fees (2) 5.29 % 3.20 % 2.35 % Incentive fees (3) 0.02 % 0.07 % 0.07 % Total expenses 5.31 % 3.27 % 2.42 % Net investment loss (1) (2) (5.18 %) (3.10 %) (2.24 %) Six Months ended June 30, 2015 Institutional Class A Class B Interest Total return for Limited Partners (3) Total return prior to incentive fees 8.00 % 9.08 % 9.52 % Incentive fees (0.02 %) (0.08 %) (0.07 %) Total return after incentive fees 7.98 % 9.00 % 9.45 % Ratio to average net asset value Expenses prior to incentive fees (2) 4.97 % 2.92 % 2.04 % Incentive fees (3) 0.02 % 0.07 % 0.04 % Total expenses 4.99 % 2.99 % 2.08 % Net investment loss (1) (2) (4.87 %) (2.82 %) (1.93 %) 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 Partners 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 ($)		Jun. 30, 2016	Dec. 31, 2015
Futures contracts	[1]	$ 75,913	$ 114,980
U.S. Government agency bonds and notes		5,569,396	6,198,074
Corporate notes		4,349,133	4,099,434
U.S. Treasury obligations		399,832
Total Assets		10,394,274	10,412,488
Futures Contracts	[1]	(226,194)	(84,745)
Level 1
Futures contracts	[1]	75,913	114,980
U.S. Government agency bonds and notes		5,569,396	6,198,074
Corporate notes
U.S. Treasury obligations
Total Assets		5,645,309	6,313,054
Futures Contracts	[1]	(226,194)	(84,745)
Level 2
Futures contracts	[1]
U.S. Government agency bonds and notes
Corporate notes		4,349,133	4,099,434
U.S. Treasury obligations		399,832
Total Assets		4,748,965	4,099,434
Futures Contracts	[1]
Level 3
Futures contracts	[1]
U.S. Government agency bonds and notes
Corporate notes
U.S. Treasury obligations
Total Assets
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)	6 Months Ended
	Jun. 30, 2016USD ($)
Notes to Financial Statements
Transfers between Level 1 and Level 2 assets and liabilities	$ 0
Liability for unrecognized tax benefits	0
Recognized interest expense or penalties	$ 0

3. RELATED PARTY TRANSACTIONS -

3. RELATED PARTY TRANSACTIONS - Fees paid to related parties (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Notes to Financial Statements
Altegris Clearing Solutions - Brokerage Commission fees	$ 52,309	$ 17,936	$ 93,648	$ 85,453
Altegris Investments - Service fees	15,512	18,053	31,675	38,560
Total	$ 67,821	$ 35,989	$ 125,323	$ 124,013

3. RELATED PARTY TRANSACTIONS28

3. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
3. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Partnership Monthly Brokerage Charges			0.125%
Partnership Annual Brokerage Charges			1.50%
Administrative fee	$ 21,015	$ 22,861	$ 40,923	$ 50,500
Commissions and Brokerage fees payable	16,696		16,696
Service fees payable	5,147		$ 5,147
Class A
Monthly Management Fee			0.104%
Annual Management Fee			1.25%
Monthly Administrative Fee			0.0275%
Annual Administrative Fee			0.33%
Administrative fee	14,936	14,504	$ 28,882	31,906
Class B
Monthly Management Fee			0.104%
Annual Management Fee			1.25%
Monthly Administrative Fee			0.0275%
Annual Administrative Fee			0.33%
Administrative fee	$ 6,079	$ 8,357	$ 12,041	$ 18,594
Institutional Interests
Monthly Management Fee			0.0625%
Annual Management Fee			0.75%

4. ADVISORY CONTRACT (Details N

4. ADVISORY CONTRACT (Details Narrative)	6 Months Ended
4. ADVISORY CONTRACT (Details Narrative)	Jun. 30, 2016
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 ($)	3 Months Ended		6 Months Ended
5. SERVICE FEES (Details Narrative) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Service fees	$ 90,748	$ 89,878	$ 176,067	$ 194,948
Class A
Ongoing Sales Service Fees			0.166%
Annual Sales Service Fees			2.00%
Service fees	$ 90,748	$ 89,878	$ 176,067	$ 194,948
Institutional Interests
Ongoing Sales Service Fees			0.0417%
Annual Sales Service Fees			0.50%

7. FINANCIAL DERIVATIVE INSTR31

7. FINANCIAL DERIVATIVE INSTRUMENTS - Fair value of derivative contracts (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Asset Derivatives Fair Value, Futures Contracts	$ 75,913	$ 114,980
Liability Derivatives Fair Value, Futures Contracts	(226,194)	(84,745)
Net Fair Value, Futures Contracts	(150,281)	30,235
Currencies
Asset Derivatives Fair Value, Futures Contracts	3,150	14,059
Liability Derivatives Fair Value, Futures Contracts	(1,881)	(3,752)
Net Fair Value, Futures Contracts	1,269	10,307
Energy
Asset Derivatives Fair Value, Futures Contracts	362
Liability Derivatives Fair Value, Futures Contracts	(6,781)	(51,344)
Net Fair Value, Futures Contracts	(6,419)	(51,344)
Interest Rates
Asset Derivatives Fair Value, Futures Contracts	9,544	15,150
Liability Derivatives Fair Value, Futures Contracts	(5,828)	(130)
Net Fair Value, Futures Contracts	3,716	15,020
Metals
Asset Derivatives Fair Value, Futures Contracts	1,722	29,697
Liability Derivatives Fair Value, Futures Contracts	(2,804)	(2,056)
Net Fair Value, Futures Contracts	(1,082)	27,641
Stock Indices
Asset Derivatives Fair Value, Futures Contracts	41,745	52,912
Liability Derivatives Fair Value, Futures Contracts	(208,488)	(22,016)
Net Fair Value, Futures Contracts	(166,743)	30,896
Treasury Rates
Asset Derivatives Fair Value, Futures Contracts	19,390	3,162
Liability Derivatives Fair Value, Futures Contracts	(412)	(5,447)
Net Fair Value, Futures Contracts	$ 18,978	$ (2,285)

7. FINANCIAL DERIVATIVE INSTR32

7. FINANCIAL DERIVATIVE INSTRUMENTS - Trading results of the Partnership's derivative trading (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Realized, Futures Contracts	$ 935,848	$ 2,995,959	$ 3,157,248	$ 3,248,110
Change in Unrealized, Futures Contracts	53,133	(59,383)	(180,516)	75,626
Currencies
Realized, Futures Contracts	103,235	1,213,248	35,524	438,956
Change in Unrealized, Futures Contracts	(46,733)	(7,764)	(9,038)	(8,047)
Energy
Realized, Futures Contracts	(58,473)	(131,041)	(193,459)	166,200
Change in Unrealized, Futures Contracts	(27,923)	(47,170)	44,926	(8,406)
Interest Rates
Realized, Futures Contracts	(19,013)	1,078,557	612,331	1,056,238
Change in Unrealized, Futures Contracts	55,776	(9,577)	(11,304)	(41,143)
Metals
Realized, Futures Contracts	259,505	53,608	126,873	(70,954)
Change in Unrealized, Futures Contracts	(49,750)	(10,777)	(28,723)	3,105
Stock Indices
Realized, Futures Contracts	699,012	(148,894)	2,179,401	390,535
Change in Unrealized, Futures Contracts	86,754	161,619	(197,640)	147,052
Treasury Rates
Realized, Futures Contracts	(48,418)	930,481	396,578	1,267,135
Change in Unrealized, Futures Contracts	$ 35,009	$ (145,714)	$ 21,263	$ (16,935)

7. FINANCIAL DERIVATIVE INSTR33

7. FINANCIAL DERIVATIVE INSTRUMENTS - Offsetting Assets and Liabilities (Details) - USD ($)		Jun. 30, 2016	Dec. 31, 2015
Gross Amounts of Recognized Assets		$ 75,913	$ 114,980
Offsetting the Financial Liabilities and Derivative Liabilities
Gross Amounts of Recognized Liabilities		(226,194)	(84,745)
Futures Contracts
Gross Amounts of Recognized Assets		75,913	114,980
Gross Amounts Offset in the Statement of Financial Condition		(75,913)	(84,745)
Net Amounts of Assets Presented in the Statement of Financial Condition			30,235
Gross Amounts Not Offset in the Statement of Financial Condition
Financial Instruments
Cash Collateral Received	[1]
Net Amount			30,235
Offsetting the Financial Liabilities and Derivative Liabilities
Gross Amounts of Recognized Liabilities		(226,194)	(84,745)
Gross Amounts Offset in the Statement of Financial Condition		75,913	84,745
Net Amounts of Liabilities Presented in the Statement of Financial Condition		(150,281)
Gross Amounts Not Offset in the Statement of Financial Condition
Financial Instruments
Cash Collateral Pledged	[1]
Net Amount		$ (150,281)

[1]	The Partnership posted additional collateral of $3,813,395 for 2016 & $4,247,966 for 2015, respectively, with the Clearing Broker.

7. FINANCIAL DERIVATIVE INSTR34

7. FINANCIAL DERIVATIVE INSTRUMENTS (Details Narrative)	3 Months Ended		6 Months Ended
7. FINANCIAL DERIVATIVE INSTRUMENTS (Details Narrative)	Jun. 30, 2016USD ($)Integer	Jun. 30, 2015Integer	Jun. 30, 2016USD ($)Integer	Jun. 30, 2015Integer	Dec. 31, 2015USD ($)
Notes to Financial Statements
Maintenance margin deposits held at the Clearing Broker \| $	$ 3,813,395		$ 3,813,395		$ 4,247,966
Futures contracts closed during period \| Integer	5,592	9,885	11,309	17,283

10. FINANCIAL HIGHLIGHTS - Fina

10. FINANCIAL HIGHLIGHTS - Financial highlights of the Partnership (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class A
Total return for Limited Partners
Total return prior to incentive fees	[1]	2.08%	8.61%	8.83%	8.00%
Incentive fees	[1]	(0.55%)	(0.02%)	(1.28%)	(0.02%)
Total return after incentive fees	[1]	1.53%	8.59%	7.55%	7.98%
Ratio to average net asset value
Expenses prior to incentive fees	[2]	5.02%	5.29%	4.96%	4.97%
Incentive fees	[1]	0.56%	0.02%	1.19%	0.02%
Total expenses		5.58%	5.31%	6.15%	4.99%
Net investment loss	[2],[3]	(7.27%)	(5.18%)	(7.19%)	(4.87%)
Class B
Total return for Limited Partners
Total return prior to incentive fees	[1]	2.59%	9.15%	9.92%	9.08%
Incentive fees	[1]	(0.71%)	(0.07%)	(1.39%)	(0.08%)
Total return after incentive fees	[1]	1.88%	9.08%	8.53%	9.00%
Ratio to average net asset value
Expenses prior to incentive fees	[2]	2.97%	3.20%	2.89%	2.92%
Incentive fees	[1]	0.70%	0.07%	1.30%	0.07%
Total expenses		3.67%	3.27%	4.19%	2.99%
Net investment loss	[2],[3]	(5.60%)	(3.10%)	(5.34%)	(2.82%)
Institutional Interests
Total return for Limited Partners
Total return prior to incentive fees	[1]	2.80%	9.37%	10.36%	9.52%
Incentive fees	[1]	(0.93%)	(0.07%)	(1.88%)	(0.07%)
Total return after incentive fees	[1]	1.87%	9.30%	8.48%	9.45%
Ratio to average net asset value
Expenses prior to incentive fees	[2]	2.14%	2.35%	2.07%	2.04%
Incentive fees	[1]	0.92%	0.07%	1.77%	0.04%
Total expenses		3.06%	2.42%	3.84%	2.08%
Net investment loss	[2],[3]	(5.66%)	(2.24%)	(5.45%)	(1.93%)

[1]	Not annualized.
[2]	Annualized
[3]	Excludes incentive fee.

11. SUBSEQUENT EVENTS (Details

11. SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
11. SUBSEQUENT EVENTS (Details Narrative)	Aug. 12, 2016USD ($)
Subsequent Events Details Narrative
Partnership subscriptions	$ 266,160
Partnership redemptions	$ 72,819