Bridgeton Tactical Advisors Fund 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - 6 months ended Jun. 30, 2015 - shares	Total
Document And Entity Information
Entity Registrant Name	BRIDGETON TACTICAL ADVISORS FUND, LP
Entity Central Index Key	794,775
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

STATEMENTS OF FINANCIAL CONDITI

STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Equity in broker trading accounts:
Due from brokers (including margin deposits of $554,421 for 2015 and $591,118 for 2014)	$ 1,191,060	$ 1,723,176
Purchased options on futures contracts (premiums paid - $17,400 for 2015 and $167,200 for 2014)	8,100	70,200
Written options on futures contracts (premiums received - $28,624 for 2015 and $71,600 for 2014)	(28,723)	(29,200)
Net unrealized gain on open futures contracts	67,365	405,192
Deposits with brokers	1,237,802	2,169,368
Cash and cash equivalents	8,051,507	8,073,505
Due from general partner	0	9,815
Prepaid management fees	340	0
TOTAL ASSETS	9,289,649	10,252,688
LIABILITIES
Prepaid subscriptions	0	20,000
Redemptions payable	49,297	0
Other accrued expenses	38,694	46,801
Accrued management fees	0	253
TOTAL LIABILITIES	87,991	67,054
PARTNERS' CAPITAL (NET ASSET VALUE)
Limited partners - Class A (1,194.4277 and 1,259.7566 fully redeemable units at June 30, 2015 and December 31, 2014, respectively)	8,195,409	9,651,733
Limited partners - Class B (1,144.7306 and 580.2534 fully redeemable units at June 30, 2015 and December 31, 2014, respectively)	1,004,452	531,895
General partner - Class A (0.2618 fully redeemable units at June 30, 2015 and December 31, 2014)	1,797	2,006
TOTAL PARTNERS' CAPITAL (NET ASSET VALUE)	9,201,658	10,185,634
TOTAL LIABILITIES AND PARTNERS' CAPITAL (NET ASSET VALUE)	$ 9,289,649	$ 10,252,688

STATEMENTS OF FINANCIAL CONDIT3

STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Assets
Margin Deposits	$ 554,421	$ 591,118
Premiums paid	17,400	167,200
Premiums received	$ 28,624	$ 71,600
Partners Capital
Limited Partners Class A, redeemable units	1,194.4277	1,259.7566
Limited Partners Class B, redeemable units	1,144.7306	580.2534
General Partners Class A, redeemable units	0.2618	0.2618

CONDENSED SCHEDULES OF INVESTME

CONDENSED SCHEDULES OF INVESTMENTS (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
PURCHASED OPTIONS ON FUTURES CONTRACTS
Total purchased options on futures contracts	$ 8,100	$ 70,200
Total purchased options on futures contracts % of partners' capital	0.088%	0.689%
PURCHASED OPTIONS ON FUTURES CONTRACTS | Energy [Member]
Total purchased options on futures contracts	$ 8,100	$ 70,200
Total purchased options on futures contracts % of partners' capital	0.088%	0.689%
WRITTEN OPTIONS ON FUTURES CONTRACTS
Total written options on futures contracts	$ (28,723)	$ (29,200)
Total written options on futures contracts % of partners' capital	(0.312%)	(0.287%)
WRITTEN OPTIONS ON FUTURES CONTRACTS | Commodities
% of Partners' Capital	(0.208%)
Total written options on futures contracts	$ (19,125)
WRITTEN OPTIONS ON FUTURES CONTRACTS | Energy [Member]
Total written options on futures contracts	$ (5,160)	$ (29,200)
Total written options on futures contracts % of partners' capital	(0.056%)	(0.287%)
WRITTEN OPTIONS ON FUTURES CONTRACTS | Financials
% of Partners' Capital	(0.041%)
Total written options on futures contracts	$ (3,750)
WRITTEN OPTIONS ON FUTURES CONTRACTS | Stock Indices [Member]
% of Partners' Capital	(0.007%)
Total written options on futures contracts	$ (688)
Futures contracts
Unrealized Gain (Loss), Net	$ 67,365	$ 405,192
% of Partners' Capital	0.732%	3.978%
Futures contracts | LONG
Unrealized Gain (Loss), Net	$ 96,238	$ 68,521
% of Partners' Capital	1.046%	0.673%
Futures contracts | LONG | Commodities
Unrealized Gain (Loss), Net	$ 110,393	$ (8,238)
% of Partners' Capital	1.20%	(0.081%)
Futures contracts | LONG | Currencies
Unrealized Gain (Loss), Net	$ (6,313)
% of Partners' Capital	(0.069%)
Futures contracts | LONG | Energy [Member]
Unrealized Gain (Loss), Net	$ 1,606
% of Partners' Capital	0.017%
Futures contracts | LONG | Financials
Unrealized Gain (Loss), Net	$ (1,594)	$ 39,511
% of Partners' Capital	(0.017%)	0.388%
Futures contracts | LONG | Stock Indices [Member]
Unrealized Gain (Loss), Net	$ (7,854)	$ 37,248
% of Partners' Capital	(0.085%)	0.366%
Futures contracts | SHORT
Unrealized Gain (Loss), Net	$ (28,873)	$ 336,671
% of Partners' Capital	(0.314%)	3.305%
Futures contracts | SHORT | Commodities
Unrealized Gain (Loss), Net	$ (9)	$ 89,020
% of Partners' Capital	0.00%	0.874%
Futures contracts | SHORT | Currencies
Unrealized Gain (Loss), Net	$ 10,778	$ 60,795
% of Partners' Capital	0.117%	0.597%
Futures contracts | SHORT | Energy [Member]
Unrealized Gain (Loss), Net	$ (28,579)	$ 140,311
% of Partners' Capital	(0.311%)	1.377%
Futures contracts | SHORT | Financials
Unrealized Gain (Loss), Net	$ (29,020)
% of Partners' Capital	(0.315%)
Futures contracts | SHORT | Stock Indices [Member]
Unrealized Gain (Loss), Net	$ 7,367
% of Partners' Capital	0.08%
Futures contracts | SHORT | Metals [Member]
Unrealized Gain (Loss), Net	$ 10,590	$ 46,545
% of Partners' Capital	0.115%	0.457%

STATEMENTS OF INCOME (LOSS) (Un

STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income:
Interest income	$ 1,199	$ 113	$ 2,186	$ 424
Expenses:
Flat-rate brokerage commissions	25,955	92,926	65,923	193,781
Placement agent trail fees	22,819	0	48,017	0
Management fees	28,571	43,725	59,448	91,981
Professional fees	19,606	39,794	48,029	71,440
Accounting, administrative and other expenses	12,548	20,638	25,179	41,397
Total expenses	109,499	197,083	246,596	398,599
Net investment (loss)	(108,300)	(196,970)	(244,410)	(398,175)
Profits (losses) on trading of futures, options on futures, and forward currency contracts:
Net realized (losses) on closed contracts	(938,917)	(82,476)	(510,519)	(115,647)
Change in net unrealized (losses) on open contracts	(194,942)	(11,657)	(292,626)	(190,000)
Brokerage commissions	(16,237)	0	(16,237)	0
Net trading (losses)	(1,150,096)	(94,133)	(819,382)	(305,647)
NET (LOSS)	$ (1,258,396)	$ (291,103)	$ (1,063,792)	$ (703,822)
NET INCOME (LOSS) PER UNIT (based on weighted average number of units outstanding during the period)
Class A	$ (943.64)	$ (196.77)	$ (768.80)	$ (470.66)
Class B - Series 1	(124.76)	(24.79)	(167.23)	(55.65)
Class B - Series 2	(93.87)	(22.60)	(81.62)	(53.18)
Class B - Series 3	0	(27.48)	0	(65.20)

STATEMENTS OF CHANGES IN PARTNE

STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (NET ASSET VALUE) - USD ($)	General Partner	Class A Limited Partner	Total Class A	CLASS B LIMITED PARTNERS Series 1	CLASS B LIMITED PARTNERS Series 2	CLASS B LIMITED PARTNERS Series 3	Total Class B	Total
BEGINNING PARTNERS' CAPITAL,Unit at Dec. 31, 2013	0.2618	1,420.5030		895.4897	98.1157	47.0348
BEGINNING PARTNERS' CAPITAL,Amount at Dec. 31, 2013	$ 1,760	$ 9,546,996	$ 9,548,756	$ 807,254	$ 65,638	$ 40,991	$ 913,883	$ 10,462,639
Redemptions, unit		(82.8232)		(505.4283)
Redemptions, amount		$ (532,291)	(532,291)	$ (438,194)			(438,194)	(970,485)
Subscriptions, unit		4.4352
Subscriptions, amount		$ 27,965	27,965					27,965
Net (loss)	$ (123)	$ (654,984)	(655,107)	$ (40,430)	$ (5,218)	$ (3,067)	(48,715)	(703,822)
ENDING PARTNERS' CAPITAL,Unit at Jun. 30, 2014	0.2618	1,259.7566		336.9123	243.3411
ENDING PARTNERS' CAPITAL,Amount at Jun. 30, 2014	$ 2,006	$ 9,651,733	9,653,739	$ 349,669	$ 182,226		531,895	10,185,634
BEGINNING PARTNERS' CAPITAL,Unit at Dec. 31, 2014	0.2618	1,259.7566		336.9123	243.3411
BEGINNING PARTNERS' CAPITAL,Amount at Dec. 31, 2014	$ 2,006	$ 9,651,733	9,653,739	$ 349,669	$ 182,226		531,895	10,185,634
Redemptions, unit		(21.5630)
Redemptions, amount		$ (162,165)	(162,165)					(162,165)
Subscriptions, unit		19.7819		96.5291
Subscriptions, amount		$ 145,000	145,000	$ 96,981			96,981	241,981
Transfers, unit		(63.5478)		467.9481
Net (loss)	$ (209)	$ (943,091)	(943,300)	$ (100,629)	$ (19,863)		(120,492)	(1,063,792)
ENDING PARTNERS' CAPITAL,Unit at Jun. 30, 2015	0.2618	1,194.4277		901.3895	243.3411
ENDING PARTNERS' CAPITAL,Amount at Jun. 30, 2015	$ 1,797	$ 8,195,409	$ 8,197,206	$ 842,089	$ 162,363		$ 1,004,452	$ 9,201,658

STATEMENTS OF CHANGES IN PARTN7

STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (NET ASSET VALUE ) (Parenthetical)	Dec. 31, 2014$ / shares
Net Asset Value Per Unit
Class A	$ 7,661.59
Class B, Series 1	1,037.86
Class B, Series 2	$ 748.85

1. BASIS OF PRESENTATION

1. BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
BASIS OF PRESENTATION	The interim financial statements of Bridgeton Tactical Advisors Fund, LP, formerly, RFMC Tactical Advisors Fund, LP and RFMC Willowbridge Fund, L.P. (the “Partnership”), included herein, have been prepared by us without audit according to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and Rule 8-03 of Regulation S-X may be omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC. The Partnership follows the same accounting policies in the preparation of interim reports as set forth in the annual report. In the opinion of management, the financial statements reflect all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the financial position, results of operations and changes in partners’ capital for the interim periods presented. The results of operations for the three and six months ended June 30, 2015 and 2014 are not necessarily indicative of the results to be expected for a full year or for any other period.

2. PARTNERSHIP ORGANIZATION

2. PARTNERSHIP ORGANIZATION	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
PARTNERSHIP ORGANIZATION	The Partnership, a Delaware limited partnership, was organized on January 24, 1986. Prior to March 1, 2010, Willowbridge Associates, Inc (“Willowbridge”) served as the Partnership’s sole trading advisor. Effective March 1, 2010, the Partnership added Quantitative Investment Management, LLC (“QIM”) as an additional trading advisor and effective August 1, 2011, the Partnership added DPT Capital Management, LLC (“DPT”) and PJM Capital (“PJM”) as trading advisors. Effective March 1, 2013, the Partnership added 3D Capital Management, LLC (“3D Capital”) as a trading advisor. Effective October 22, 2013, the Partnership added Revolution Capital Management LLC (“Revolution”) as a trading advisor. Effective October 1, 2014, the Partnership added Bridgeton Fund Management, LLC (“Bridgeton”) as a Trading Advisor (Willowbridge, QIM, DPT, PJM, 3D Capital, Revolution, and Bridgeton, collectively the “Trading Advisors”). The Partnership terminated the relationship with DPT, PJM, 3D Capital, and QIM effective January 31, 2013, July 1, 2013, December 31, 2013, and April 30, 2014, respectively, and Revolution and Willowbridge were both terminated effective October 31, 2014. Effective November 1, 2014, Bridgeton is acting as both the General Partner and the sole Trading Advisor. The Partnership is an Investment Company that follows the accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification (the "Codification" or "ASC") Topic 946 - Financial Services - Investment Companies From the Partnership’s start until February 1, 2011, Ruvane Fund Management Corporation, a Delaware corporation (“Ruvane” or the “General Partner” for periods prior to March 1, 2011), was the sole general partner of the Partnership. From that date until March 1, 2011, Bridgeton Fund Management, LLC (“Bridgeton” or the “General Partner” for periods on or after March 1, 2011) was a co-general partner of the Partnership with Ruvane. Effective March 1, 2011, Bridgeton is the sole general partner of the Partnership. Bridgeton has been registered with the Commodity Futures Trading Commission (“CFTC”) pursuant to the Commodity Exchange Act (“CEA”) as a Commodity Pool Operator (“CPO”) since January 11, 2011 and has been a member of the National Futures Association (“NFA”) since January 11, 2011. The General Partner is required by the Limited Partnership Agreement, as amended and restated (the “Agreement”), to contribute $1,000 to the Partnership. In accordance with Section 5 of the Agreement, the Partnership offers separate classes of limited partnership interests, whereby interests which were issued prior to January 16, 2003 by the Partnership will be designated as Class A interests. The Partnership also offers Class B limited partnership interests through a private offering pursuant to Regulation D as adopted under section 4(2) of the Securities Act of 1933, as amended. The Partnership will offer the Class B interests up to an aggregate of $100,000,000; provided that the General Partner may increase the amount of interests that will be offered in increments of $10,000,000 after notice to the limited partners. Certain expenses for the Class B interests will differ from those of the Class A interests, but in all other respects the Class A interests and the Class B interests are identical. The Class A interests and Class B interests will also be traded pursuant to the same trading programs. From January 1, 2014 to April 30, 2014, the Partnership allocated its trading assets to the Trading Advisors: approximately 40% to Willowbridge, 35% to QIM, 25% to Revolution. From May 1, 2014 to September 30, 2014, the Partnership allocated its trading assets to the Trading Advisors: approximately 64% to Willowbridge and 36% to Revolution. During the month of October 2014, the allocation was adjusted to 47% for Willowbridge, 16% to Revolution, and 37% to Bridgeton. Effective November 1, 2014, the Partnership allocated 100% of its trading assets to Bridgeton. The General Partner, in the future, may allocate the Partnership’s assets to other trading strategies and investment programs. The Partnership shall end upon withdrawal, insolvency or dissolution of the General Partner or a decline of greater than fifty percent of the net assets of the Partnership as defined in the Agreement, or the occurrence of any event which shall make it unlawful for the existence of the Partnership to be continued.

3. SIGNIFICANT ACCOUNTING POLIC

3. SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
SIGNIFICANT ACCOUNTING POLICIES	A. Method of Reporting The Partnership’s financial statements are prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income (loss) and expenses during the reporting period. Actual results could differ from these estimates. FASB Codification is the single source of U.S. GAAP. The Partnership has elected not to provide a statement of cash flows as permitted under ASC Topic 230, Statement of Cash Flows B. Cash and Cash Equivalents The Partnership has defined cash and cash equivalents as cash and short-term, highly liquid investments with maturities of three months or less when acquired. Money market mutual funds, which are included in cash equivalents, are classified as Level 1 fair value estimates (unadjusted quoted prices in active markets for identical assets) under the fair value hierarchy provisions as described in ASC Topic 820, Fair Value Measurement C. Due from Brokers Due from brokers represents deposits required to meet margin requirements and excess funds not required for margin. Due from brokers at June 30, 2015 and December 31, 2014 consisted of cash on deposit with the brokers of $1,191,060 and $1,723,176, respectively. The Partnership is subject to credit risk to the extent any broker with whom the Partnership conducts business is unable to deliver cash balances or securities, or clear securities transactions on the Partnership’s behalf. The General Partner monitors the financial condition of the brokers with which the Partnership conducts business and believes that the likelihood of loss under the aforementioned circumstances is remote. Interest income is recognized on an accrual basis. D. Investments in Futures Contracts, Options on Futures Contracts, and Forward Currency Contracts Investments in futures contracts, options on futures contracts, and forward currency contracts are recorded on the trade date and open contracts are reported in the financial statements at their fair value on the last business day of the reporting period. The fair value of exchange-traded futures and options on futures contracts is determined by the various futures exchanges, and reflects the settlement price for each contract as of the close of the last business day of the reporting period. Accordingly, such contracts are classified as Level 1 fair value estimates under the fair value hierarchy as described within ASC Topic 820, Fair Value Measurement As the Partnership has the right of offset, the Partnership presents the aggregate net unrealized gains on open futures contracts with such brokers as “Net unrealized gains on open futures contracts” and the aggregate net unrealized losses on open futures contracts with such brokers as “Net unrealized losses on open futures contracts” in the Statements of Financial Condition, as applicable. The net unrealized gains on open futures contracts with one broker are not offset against net unrealized losses on open futures contracts from another broker in the Statements of Financial Condition where applicable (see Note 5., Derivative Instruments, for disclosures about offsetting derivative assets and liabilities). Any change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss) under the caption “Change in net unrealized losses on open contracts.” E. Flat-rate Brokerage Commissions Prior to November 1, 2014, the Class A limited partners paid to the General Partner a flat brokerage commission of 4.0% annually of the net asset value of the Class A limited partners’ capital as of the beginning of each month. Prior to November 1, 2014, Class B limited partners paid to the General Partner a flat brokerage commission equal to the following percentages of each Series’ applicable net asset value: Series 1 – 3%, Series 2 – 6%, and Series 3 – 5%. From November 1, 2014 to May 31, 2015, each of Class A interests and Class B interests paid to the General Partner a flat-rate monthly brokerage commission of approximately 0.13% (1.56% per year) of the net asset value of the Class A interests and Class B interests as of the beginning of each month. The General Partner paid from this amount all floor brokerage, exchange, clearing and NFA fees with respect to the Partnership’s trading, but the Partnership paid all other execution costs, including give-up charges and service fees assessed by certain forward dealing desks. From these amounts, the General Partner paid (1) actual trading commissions incurred by the Partnership of $26,703 and $53,615 for the three and six months ended June 30, 2015, respectively and $54,999 and $110,369 for the three and six months ended June 30, 2014, respectively, and, prior to November 1, 2014, (2) 3.0% to properly registered selling agents as their ongoing compensation for servicing Class B limited partners (and to the extent the amount was less than 3%, the brokerage commissions with respect to such Class B limited partnership interests would be reduced accordingly). Effective November 1, 2014, the properly registered selling agents are paid through the placement agent trail fee (see Note 3.I.). Effective June 1, 2015, the General Partner no longer assesses flat-rate brokerage commissions or pays actual trading commissions on behalf of the Partnership, and the Partnership recognizes and pays actual trading commissions incurred. Approximately 35% to 45% of the actual trading commissions incurred by the Partnership is remitted by the brokers to an Introducing Broker affiliated with Bridgeton. Flat-rate brokerage commissions charged to each Class or Series of class were as follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Class A $ 23,241 $ 87,201 $ 61,120 $ 181,416 Class B – Series 1 2,251 4,323 3,625 9,473 Class B – Series 2 463 921 1,178 1,901 Class B – Series 3 - 481 - 991 Total $ 25,955 $ 92,926 $ 65,923 $ 193,781 As of December 31, 2014, $9,815 was due from the General Partner for reimbursement of actual brokerage commissions advanced by the Partnership. F. Allocation of Income (Loss) Net realized and unrealized trading profits and losses, interest income and other operating income and expenses, except Class or Series specific brokerage commission charges or placement agent trail fees, are allocated to the partners monthly in proportion to their capital account balances, as defined in the Agreement. Class and/or Series specific commission charges or placement agent trail fees are allocated monthly to the partners of the respective Class and/or Series in proportion to their respective capital account balances within the Class and/or Series. G. Incentive Fees Pursuant to the Trading Advisory Agreements with Willowbridge (“Willowbridge Agreement”), QIM (“QIM Agreement”), Revolution (“Revolution Agreement”), and Bridgeton (“Bridgeton Agreement”), the Trading Advisors are entitled to an incentive fee based on the New Profits, the New Net Profits, the New Net Total Return, or the Net New High Profits, as defined in the applicable Trading Advisory Agreements, of the Partnership’s trading assets allocated to the respective Trading Advisor. The Trading Advisors earn such incentive fees on a quarterly basis. Willowbridge was entitled to a quarterly incentive fee of 25% of any New Profits, as defined in the Willowbridge Agreement. The term “New Profits” for the purpose of calculating Willowbridge’s incentive fee only, is defined as the excess (if any) of (A) the net asset value of the Partnership’s trading assets allocated to Willowbridge as of the last day of any calendar quarter (before deduction of incentive fees paid or accrued for such quarter), over (B) the net asset value of the Partnership’s trading assets allocated to Willowbridge as of the last day of the most recent quarter for which an incentive fee was paid or payable (after deduction of such incentive fee). In computing New Profits, the difference between (A) and (B) above was (i) increased by the amount of any distributions or redemptions paid or accrued by the Partnership as of or subsequent to the date in (B) through the date in (A), (ii) adjusted (either decreased or increased, as the case may be) to reflect the amount of any additional allocations or negative reallocations of Partnership assets from the date in (B) to the last day of the quarter as of which the current incentive fee calculation is made, and (iii) increased by the amount of any losses attributable to redemptions. QIM was entitled to a quarterly incentive fee of 30% of any New Net Profits (as defined in the QIM Agreement) in the Partnership’s account as of each calendar quarter end. “New Net Profits”, for the purpose of calculating QIM’s incentive fee, is defined as the excess of cumulative gain/loss from commodity trading (excluding interest) less trading and management fees over its highest past value at any prior calendar quarterly period with respect to trading assets allocated to QIM. The “gain/loss from commodity trading” is the net gain or loss from closed and completed commodity transactions (after brokerage commissions) plus the increases/decreases in the value of open positions at the end of each calendar quarter (accounting for commissions that would be incurred by closing such open positions). In the event of any subsequent losses, the quarterly incentive fees were not charged until there were Net New Profits to offset such losses. Revolution was entitled to a quarterly incentive fee of 20% of any New Net Total Return (as defined in the Revolution Agreement) in the Partnership’s account as of each calendar quarter end. “New Net Total Return”, for the purpose of calculating Revolution’s incentive fee, is computed using the formula: (1) the net of realized profits and loss during the period, plus (2) the change in unrealized profit and loss on open positions during the period, plus (3) accrued interest income, minus (4) all brokerage commissions, transaction fees, management fees and other charges incurred during the period and minus (5) cumulative net loss, if any, carried over from previous periods. Cumulative net loss shall be computed by totaling all net profit in each period (quarter or month) in which there was such a profit and subtracting from it all net loss in each period (quarter or month) in which there was such a loss, provided that the full cumulative net loss would not be carried over where a withdrawal had occurred. Instead, a portion of the loss (calculated by dividing the withdrawn amount by the total under management and multiplying the result by the cumulative net loss) attributable to the withdrawn amount would first be subtracted from the cumulative net loss. Bridgeton is entitled to a quarterly incentive fee equal to 10% of the Net New High Profits (as defined in the Bridgeton agreement). “Net New High Profits” is defined as the excess of the cumulative realized and unrealized gain or loss from commodity trading plus interest, less monthly management fees and previous incentive fees over the highest past value at any previous calendar quarter end. In the event of subsequent losses, the incentive fee would not be charged until there are “Net New High Profits.” Incentive fees once earned are not subject to refund if subsequent periods result in losses. In connection with the termination of relationships with certain Trading Advisors, and as the high-water marks or loss carry-forwards are specific to each Trading Advisor, the prior losses associated with former Trading Advisors are no longer subject to recoupment in order for incentive fees to be assessed by Bridgeton. The incentive fee to Bridgeton will be waived until such time that the respective Class or Series’ unit net asset value exceeds the high water mark achieved in January 2015. There were no incentive fees earned for Willowbridge, QIM, Revolution, or Bridgeton for the three and six months ended June 30, 2015 and 2014. H. Management Fees Through October 31, 2014, the General Partner charged a general partner management fee each beginning of month at 1/12 of 1% of the Partnership’s net assets as of the beginning of the respective month. Effective November 1, 2014, the General Partner charges such management fee each beginning of month at 1/12 of 0.35% of the Partnership’s net assets as of the beginning of the respective month. For the three and six months ended June 30, 2015, the Partnership recorded management fee expense earned by the General Partner of $8,539 and $17,432, respectively, and of $23,492 and $49,028 for the three and six months ended June 30, 2014, respectively. The Partnership paid to Willowbridge a quarterly trading advisor management fee of 0.25% (1% per year) of the Partnership’s trading assets allocated to Willowbridge. The Partnership paid Revolution a monthly trading advisor management fee of 0.083% (1% per year) of the Partnership’s trading assets allocated to Revolution. The Partnership pays Bridgeton a monthly trading advisor management fee of 0.07083% (0.85% per year) of the Partnership’s trading assets allocated to Bridgeton. QIM was not paid a trading advisor management fee. The aggregate trading assets allocated to the Trading Advisors may exceed the net asset value of the Partnership, and accordingly management fees may exceed that which would be assessed based on net asset value. Management fees earned by the Trading Advisors were as follows for the three and six months ended June 30: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Bridgeton $ 20,032 $ - $ 42,016 $ - Revolution - 7,396 - 16,381 Willowbridge - 12,837 - 26,572 Total $ 20,032 $ 20,233 $ 42,016 $ 42,953 As of December 31, 2014, management fees of $253 was due to Bridgeton. I. Placement Agent Trail Fees Effective November 1, 2014, the Partnership pays properly registered selling agents a monthly Placement Agent Trail Fee of 0.083% (1.0% per year) for their ongoing service to the Partnership with regard to any Class A interests sold by said selling agents or a fee of 0.167% (2.0% per year) for their ongoing service to the Partnership with regard to any Class B2 interests sold by said selling agents. There is no Placement Agent Trail Fee paid by Class B1 interests. Prior to November 1, 2014, the General Partner paid such selling agent fees from the flat-rate General Partner brokerage commission charged to the Partnership. Placement agent trail fees separately paid by the Partnership for the three and six months ended June 30, 2015 totaled $22,819 and $48,017, respectively, including $1,530 and $3,137, respectively, paid to the General Partner or its affiliates. As of June 30, 2015 and December 31, 2014, $489 and $990, respectively, of placement agent fees were due to the General Partner or its affiliates and are included with other accrued expenses in the Statements of Financial Condition. J. Income Taxes No provision for income taxes has been provided in the accompanying financial statements as each partner is individually liable for taxes, if any, on his or her share of the Partnership’s profits. The Partnership applies the provisions of Codification Topic 740, Income Taxes The Partnership files U.S. federal and state tax returns. The 2012 through 2014 tax years generally remain subject to examination by U.S. federal and most state authorities. K. Subscriptions Partnership units may be purchased on the first day of each month at the net asset value per unit determined on the last business day of the previous month. Partners’ contributions received in advance for subscriptions are recorded as prepaid subscriptions in the Statements of Financial Condition. L. Redemptions Limited partners may redeem some or all of their units at the net asset value per unit as of the last business day of each month with at least ten days written notice to the General Partner. M. Foreign Currency Transactions The Partnership’s functional currency is the U.S. dollar; however, it transacts business in currencies other than the U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the respective Statement 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 (losses) resulting from the translation to U.S. dollars totaled $(2,624) and $3,217 for the three and six months ended June 30, 2015, respectively, and totaled $(1,719) and $(3,063) for the three and six months ended June 30, 2014, respectively, and are reported as a component of “Net realized (losses) on closed contracts” in the Statements of Income (Loss). N. Indemnifications The Partnership has entered into agreements which provide for the indemnifications against losses, costs, claims and liabilities arising from the performance of its obligations under such agreements, except for gross negligence or bad faith. The Partnership’s individual 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 generally expects the risk of loss from indemnification claims in the future to be remote.

4. FAIR VALUE

4. FAIR VALUE	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
FAIR VALUE	Fair value of an investment is the amount that would be received to sell the investment in an orderly transaction between market participants at the measurement date (i.e. the exit price). The fair value hierarchy, as more fully described in ASC Topic 820, Fair Value Measurement Investments measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 – Quoted prices are available in active markets for identical investments as of the reporting date. The types of investments included in Level 1 are publicly traded investments. As required by ASC Topic 820, Fair Value Measurement Level 2 – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Investments which are generally included in this category are investments valued using market data. Level 3 – Pricing inputs are unobservable and include situations where there is little, if any, market activity for the investment. Fair value for these investments is determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment. Due to the inherent uncertainty of these estimates, these values may differ materially from the values that would have been used had a ready market for these investments existed. Investments that are included in this category generally are privately held debt and equity securities. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The General Partner’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. The Partnership recognizes transfers, if any, between fair value hierarchy levels at the beginning of the reporting period. There were no transfers into or out of the fair value hierarchy levels during the three and six months ended June 30, 2015 and the year ended December 31, 2014. The following table summarizes the valuation of the Partnership’s investments by the above fair value hierarchy levels. Fair value is presented on a gross basis even though certain assets and liabilities qualify for net presentation in the Statements of Financial Condition: As of June 30, 2015 Description Level 1 Level 2 Level 3 Total Assets Futures contracts Commodities $ 126,503 $ - $ - $ 126,503 Currencies 33,860 - - 33,860 Energy 4,054 - - 4,054 Financials 4,636 - - 4,636 Metals 11,510 - - 11,510 Stock indices 7,994 - - 7,994 Total futures contracts 188,557 - - 188,557 Purchased options on futures contracts Energy 8,100 - - 8,100 Money market mutual funds 7,754,013 - - 7,754,013 Total assets $ 7,950,670 $ - $ - $ 7,950,670 Liabilities Futures contracts Commodities $ (16,119 ) $ - $ - $ (16,119 ) Currencies (29,395 ) (29,395 ) Energy (31,027 ) - - (31,027 ) Financials (35,250 ) - - (35,250 ) Metals (920 ) - - (920 ) Stock indices (8,481 ) - - (8,481 ) Total futures contracts (121,192 ) - - (121,192 ) Written options on futures contracts Commodities (19,125 ) - - (19,125 ) Energy (5,160 ) - - (5,160 ) Financials (3,750 ) - - (3,750 ) Stock indices (688 ) - - (688 ) Total written options on futures contracts (28,723 ) - - (28,723 ) Total liabilities $ (149,915 ) $ - $ - $ (149,915 ) As of December 31, 2014 Description Level 1 Level 2 Level 3 Total Assets Futures contracts Commodities $ 89,095 $ - $ - $ 89,095 Currencies 60,795 - - 60,795 Energy 146,851 - - 146,851 Financials 41,745 - - 41,745 Metals 46,545 - - 46,545 Stock indices 47,392 - - 47,392 Total futures contracts 432,423 - - 432,423 Purchased options on futures contracts Energy 70,200 - - 70,200 Money market mutual funds 7,751,841 - - 7,751,841 Total assets $ 8,254,464 $ - $ - $ 8,254,464 Liabilities Futures contracts Commodities $ (8,313 ) $ - $ - $ (8,313 ) Energy (6,540 ) - - (6,540 ) Financials (2,234 ) - - (2,234 ) Stock indices (10,144 ) - - (10,144 ) Total futures contracts (27,231 ) - - (27,231 ) Written options on futures contracts Energy (29,200 ) - - (29,200 ) Total liabilities $ (56,431 ) $ - $ - $ (56,431 )

5. DERIVATIVE INSTRUMENTS

5. DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
DERIVATIVE INSTRUMENTS	The Partnership engages in the speculative trading of forward currency contracts, options on futures contracts, and futures contracts in currencies, financials and a wide range of commodities, among others (collectively “derivatives”) for the purpose of achieving capital appreciation. Since the derivatives held or sold by the Partnership are for speculative trading purposes, the derivative instruments are not designated as hedging instruments as defined in ASC Topic 815, Derivatives and Hedging Under provisions of ASC Topic 815, Derivatives and Hedging The Partnership’s derivatives held at June 30, 2015 and December 31, 2014 are subject to agreements similar to master netting agreements with the Partnership’s brokers which grant the Partnership the right to offset recognized assets and liabilities if certain conditions exist. The following tables present gross amounts of assets and liabilities which are offset in the Statements of Financial Condition. Offsetting of Derivative Assets and Liabilities As of June 30, 2015 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Assets Condition Condition Assets Futures Contracts(1) ADM Investor Services, Inc. $ 188,557 $ (121,192 ) $ 67,365 Options on futures contracts(1) ADM Investor Services, Inc. $ 8,100 $ - $ 8,100 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Liabilities Condition Condition Liabilities Futures Contracts(1) ADM Investor Services, Inc. $ (121,192 ) $ 121,192 $ - Options on futures contracts(1) ADM Investor Services, Inc. $ (28,723 ) $ - $ (28,723 ) Offsetting of Derivative Assets and Liabilities As of December 31, 2014 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Assets Condition Condition Assets Futures Contracts(1) ADM Investor Services, Inc. $ 432,423 $ (27,231 ) $ 405,192 Options on futures contracts(1) ADM Investor Services, Inc. $ 70,200 $ - $ 70,200 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Liabilities Condition Condition Liabilities Futures Contracts(1) ADM Investor Services, Inc. $ (27,231 ) $ 27,231 $ - Options on futures contracts(1) ADM Investor Services, Inc. $ (29,200 ) $ - $ (29,200 ) ________ (1) See Note 4. for the fair value for each type of contract within the category. Within the Statements of Financial Condition, the fair value of futures contracts is included in net unrealized gain on open futures contracts and the fair value of options on futures contracts is included in purchased options on futures contracts and written options on futures contracts. The cash held at each counterparty at June 30, 2015 and December 31, 2014 exceeds the net derivatives liability, if any, at such counterparty. Realized gains and losses, as well as any change in net unrealized gains or losses on open contracts from the preceding period, are recognized as part of the Partnership’s trading profits and losses in the Statements of Income (Loss). The Partnership’s trading results and information related to the volume of the Partnership’s derivative activity by market sector were as follows: For the three months ended June 30, 2015 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ (2,182 ) $ (83,378 ) $ (85,560 ) 2,378 Currencies (144,778 ) 2,097 (142,681 ) 980 Energy (635,340 ) (72,628 ) (707,968 ) 1,174 Financials (132,614 ) (72,342 ) (204,956 ) 806 Metals (15,203 ) (9,288 ) (24,491 ) 262 Stock indices (105,294 ) (14,123 ) (119,417 ) 734 Total futures contracts (1,035,411 ) (249,662 ) (1,285,073 ) 6,334 Options on futures contracts Commodities (10,421 ) (5,950 ) (16,371 ) 820 Currencies (58,673 ) 64,119 5,446 586 Energy 116,060 (7,980 ) 108,080 556 Financials 37,375 156 37,531 392 Stock indices 12,153 4,375 16,528 284 Total options on futures contracts 96,494 54,720 151,214 2,638 Total (loss) from derivatives trading $ (938,917 ) $ (194,942 ) $ (1,133,859 ) For the six months ended June 30, 2015 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ 53,369 $ 29,602 $ 82,971 4,188 Currencies 35,587 (56,330 ) (20,743 ) 1,278 Energy (642,500 ) (167,284 ) (809,784 ) 1,808 Financials (39,823 ) (70,125 ) (109,948 ) 1,266 Metals (42,108 ) (35,955 ) (78,063 ) 482 Stock indices (13,806 ) (37,735 ) (51,541 ) 1,354 Total futures contracts (649,281 ) (337,827 ) (987,108 ) 10,376 Options on futures contracts Commodities (10,421 ) (5,950 ) (16,371 ) 820 Currencies (48 ) - (48 ) 866 Energy 45,390 46,620 92,010 1,262 Financials 91,688 156 91,844 716 Stock indices 12,153 4,375 16,528 284 Total options on futures contracts 138,762 45,201 183,963 3,948 Total (loss) from derivatives trading $ (510,519 ) $ (292,626 ) $ (803,145 ) For the three months ended June 30, 2014 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ (29,953 ) $ (53,328 ) $ (83,281 ) 1,764 Currencies 21,655 24,398 46,053 1,484 Energy (164,349 ) (15,529 ) (179,878 ) 720 Financials 1,650 32,487 34,137 4,354 Metals (80,885 ) 7,545 (73,340 ) 718 Stock indices 169,338 (7,230 ) 162,108 3,586 Total futures contracts (82,544 ) (11,657 ) (94,201 ) 12,626 Notional Value of Contracts Closed Forward currency contracts 68 - 68 $ 49,821 Total (loss) from derivatives trading $ (82,476 ) $ (11,657 ) $ (94,133 ) For the six months ended June 30, 2014 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ 195,068 $ 11,917 $ 206,985 3,806 Currencies (61,475 ) (54,173 ) (115,648 ) 3,194 Energy (80,131 ) (45,397 ) (125,528 ) 1,382 Financials 148,577 (33,164 ) 115,413 9,458 Metals (174,871 ) (28,516 ) (203,387 ) 1,402 Stock indices (143,084 ) (40,667 ) (183,751 ) 6,858 Total futures contracts (115,916 ) (190,000 ) (305,916 ) 26,100 Notional Value of Contracts Closed Forward currency contracts 269 - 269 $ 156,156 Total (loss) from derivatives trading $ (115,647 ) $ (190,000 ) $ (305,647 ) The number of contracts closed for futures and options on futures contracts represents the number of contract half turns during the three months and six months ended June 30, 2015 and 2014. The notional value of contracts closed for forward currency contracts represents the U.S. dollar notional value of forward currency contracts closed during the three and six months ended June 30, 2014. A. Market Risk The Partnership engages in the speculative trading of futures contracts, options on futures contracts, and forward currency contracts. Derivative financial instruments involve varying degrees of off-balance sheet market risk whereby changes in the level of volatility of interest rates, foreign currency exchange rates or market values of the underlying financial instruments or commodities may result in cash settlements in excess of the amounts recognized in the Statements of Financial Condition. The Partnership’s exposure to market risk is directly influenced by a number of factors, including the volatility of the markets in which the financial instruments are traded and the liquidity of those markets. B. Fair Value The derivative financial instruments used in the Partnership’s trading activities are reported at fair value with the resulting unrealized gains (losses) recorded in the Statements of Financial Condition and the related trading profits (losses) reflected in “trading (losses)” in the Statements of Income (Loss). Open contracts generally mature within 90 days; as of June 30, 2015 and December 31, 2014, the latest maturity dates for open contracts are December 2015 and March 2015, respectively. C. Credit Risk Futures are contracts for delayed delivery of financial interests in which the seller agrees to make delivery at a specified future date of a specified financial instrument at a specified price or yield. Options on futures are contracts giving its owner the right, but not the obligation, to buy (call) or sell (put) a specified number of futures contracts at a fixed strike price either during a specified period or on a specified date. Risk on futures and options on futures contracts arises from changes in the fair value of the underlying instruments. The purchase and sale of futures and options on futures contracts requires certain margin deposits with the brokers. Additional deposits may be necessary for any loss on contract fair value. The Commodity Exchange Act requires a broker to segregate all customer transactions and assets from such broker's proprietary activities. A customer's cash and other property (for example, U.S. Treasury bills) deposited with a broker are considered commingled with all other customer funds subject to the broker's segregation requirements. In the event of a broker's insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than total cash and other property deposited with such brokers ("counterparties"). The Partnership’s counterparties are major brokerage firms and banks located in the United States, or their foreign affiliates. Credit risk due to counterparty nonperformance associated with futures contracts and options on futures contracts is reflected in the cash on deposit with brokers and the gross amounts of recognized assets held by such counterparties, if any, reflected above. The Partnership also trades forward currency contracts in unregulated markets between principals and assumes the risk of loss from counterparty nonperformance. The Partnership has a substantial portion of its assets on deposit with brokers and other financial institutions in connection with its trading of derivative contracts and its cash management activities. Assets deposited with brokers and other financial institutions in connection with the Partnership's trading of derivative contracts are partially restricted due to deposit or margin requirements. In the event of a financial institution's insolvency, recovery of Partnership assets on deposit may be limited to account insurance or other protection afforded such deposits. D. Risk Monitoring Due to the speculative nature of the Partnership’s derivatives trading, the Partnership is subject to the risk of substantial losses from derivatives trading. The General Partner actively assesses, manages, and monitors risk exposure on derivatives on a contract basis, a market sector basis, and on an overall basis in accordance with established risk parameters. The Limited Partners bear the risk of loss only to the extent of the fair value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

6. FINANCIAL HIGHLIGHTS

6. FINANCIAL HIGHLIGHTS	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
FINANCIAL HIGHLIGHTS	The following information presents per unit operating performance data and other supplemental financial data For the three and six months ended June 30, 2015 and 2014. The information has been derived from information presented in the financial statements. Three Months Ended June 30, 2015 Class B Class B Class A Series 1 Series 2 Per Unit Operating Performance (for a Unit outstanding for the entire period) Net Asset Value, beginning of the period $ 7,806.23 $ 1,060.09 $ 761.09 (Loss) from operations Net investment (loss) (82.33 ) (8.71 ) (9.81 ) Net trading (loss) (862.53 ) (117.17 ) (84.06 ) Net (loss) (944.86 ) (125.88 ) (93.87 ) Net Asset Value, end of the period $ 6,861.37 $ 934.21 $ 667.22 Total Return (1)(3) (12.10 )% (11.87 )% (12.33 )% Supplemental Data Ratios to average net asset value (2) Total expenses 5.06 % 4.06 % 6.06 % Net investment (loss) (5.01 )% (4.01 )% (6.01 )% Six Months Ended June 30, 2015 Class B Class B Class A Series 1 Series 2 Per Unit Operating Performance (for a Unit outstanding for the entire period) Net Asset Value, beginning of the period $ 7,661.59 $ 1,037.86 $ 748.85 (Loss) from operations Net investment (loss) (185.62 ) (18.89 ) (21.72 ) Net trading (loss) (614.60 ) (84.76 ) (59.91 ) Net (loss) (800.22 ) (103.65 ) (81.63 ) Net Asset Value, end of the period $ 6,861.37 $ 934.21 $ 667.22 Total Return (1)(3) (10.44 )% (9.99 )% (10.90 )% Supplemental Data Ratios to average net asset value (2) Total expenses 5.23 % 4.02 % 6.22 % Net investment (loss) (5.19 )% (3.97 )% (6.18 )% Three Months Ended June 30, 2014 Class B Class B Class B Class A Series 1 Series 2 Series 3 Per Unit Operating Performance ( for a Unit outstanding for the entire period Net Asset Value, beginning of the period $ 6,446.25 $ 866.83 $ 638.40 $ 833.79 (Loss) from operations Net investment (loss) (133.52 ) (15.81 ) (16.33 ) (19.30 ) Net trading (loss) (63.13 ) (8.51 ) (6.27 ) (8.19 ) Net (loss) (196.65 ) (24.32 ) (22.60 ) (27.49 ) Net Asset Value, end of the period $ 6,249.60 $ 842.51 $ 615.80 $ 806.30 Total Return (1)(3) (3.05 )% (2.81 )% (3.54 )% (3.30 )% Supplemental Data Ratios to average net asset value (2) Total expenses 8.52 % 8.31 % 10.47 % 9.47 % Net investment (loss) (8.52 )% (8.31 )% (10.47 )% (9.47 )% Six Months Ended June 30, 2014 Class B Class B Class B Class A Series 1 Series 2 Series 3 Per Unit Operating Performance ( for a Unit outstanding for the entire period Net Asset Value, beginning of the period $ 6,720.86 $ 901.47 $ 668.99 $ 871.50 (Loss) from operations Net investment (loss) (266.12 ) (31.28 ) (32.83 ) (38.64 ) Net trading (loss) (205.14 ) (27.68 ) (20.36 ) (26.56 ) Net (loss) (471.26 ) (58.96 ) (53.19 ) (65.20 ) Net Asset Value, end of the period $ 6,249.60 $ 842.51 $ 615.80 $ 806.30 Total Return (1)(3) (7.01 )% (6.54 )% (7.95 )% (7.48 )% Supplemental Data Ratios to average net asset value (2) Total expenses 8.27 % 7.64 % 10.25 % 9.24 % Net investment (loss) (8.26 )% (7.63 )% (10.24 )% (9.23 )% Total returns are calculated based on the change in value of a unit during the periods presented. An individual partner’s total returns and ratios may vary from the above total returns and ratios based on the timing of subscriptions and redemptions. (1) Total return is derived as ending net asset value less beginning net asset value divided by beginning net asset value, and excludes the effect of sales commissions and initial administrative charges on subscriptions. (2) Annualized. (3) Not annualized.

3. SIGNIFICANT ACCOUNTING POL14

3. SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
A. Method of Reporting	The Partnership’s financial statements are prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income (loss) and expenses during the reporting period. Actual results could differ from these estimates. FASB Codification is the single source of U.S. GAAP. The Partnership has elected not to provide a statement of cash flows as permitted under ASC Topic 230, Statement of Cash Flows
B. Cash and Cash Equivalents	The Partnership has defined cash and cash equivalents as cash and short-term, highly liquid investments with maturities of three months or less when acquired. Money market mutual funds, which are included in cash equivalents, are classified as Level 1 fair value estimates (unadjusted quoted prices in active markets for identical assets) under the fair value hierarchy provisions as described in ASC Topic 820, Fair Value Measurement
C. Due from Brokers	Due from brokers represents deposits required to meet margin requirements and excess funds not required for margin. Due from brokers at June 30, 2015 and December 31, 2014 consisted of cash on deposit with the brokers of $1,191,060 and $1,723,176, respectively. The Partnership is subject to credit risk to the extent any broker with whom the Partnership conducts business is unable to deliver cash balances or securities, or clear securities transactions on the Partnership’s behalf. The General Partner monitors the financial condition of the brokers with which the Partnership conducts business and believes that the likelihood of loss under the aforementioned circumstances is remote. Interest income is recognized on an accrual basis.
D. Investments in Futures Contracts, Options on Futures, and Forward Currency Contracts	Investments in futures contracts, options on futures contracts, and forward currency contracts are recorded on the trade date and open contracts are reported in the financial statements at their fair value on the last business day of the reporting period. The fair value of exchange-traded futures and options on futures contracts is determined by the various futures exchanges, and reflects the settlement price for each contract as of the close of the last business day of the reporting period. Accordingly, such contracts are classified as Level 1 fair value estimates under the fair value hierarchy as described within ASC Topic 820, Fair Value Measurement As the Partnership has the right of offset, the Partnership presents the aggregate net unrealized gains on open futures contracts with such brokers as “Net unrealized gains on open futures contracts” and the aggregate net unrealized losses on open futures contracts with such brokers as “Net unrealized losses on open futures contracts” in the Statements of Financial Condition, as applicable. The net unrealized gains on open futures contracts with one broker are not offset against net unrealized losses on open futures contracts from another broker in the Statements of Financial Condition where applicable (see Note 5., Derivative Instruments, for disclosures about offsetting derivative assets and liabilities). Any change in net unrealized gain or loss from the preceding period is reported in the Statements of Income (Loss) under the caption “Change in net unrealized losses on open contracts.”
E. Flat-Rate Brokerage Commissions	Prior to November 1, 2014, the Class A limited partners paid to the General Partner a flat brokerage commission of 4.0% annually of the net asset value of the Class A limited partners’ capital as of the beginning of each month. Prior to November 1, 2014, Class B limited partners paid to the General Partner a flat brokerage commission equal to the following percentages of each Series’ applicable net asset value: Series 1 – 3%, Series 2 – 6%, and Series 3 – 5%. From November 1, 2014 to May 31, 2015, each of Class A interests and Class B interests paid to the General Partner a flat-rate monthly brokerage commission of approximately 0.13% (1.56% per year) of the net asset value of the Class A interests and Class B interests as of the beginning of each month. The General Partner paid from this amount all floor brokerage, exchange, clearing and NFA fees with respect to the Partnership’s trading, but the Partnership paid all other execution costs, including give-up charges and service fees assessed by certain forward dealing desks. From these amounts, the General Partner paid (1) actual trading commissions incurred by the Partnership of $26,703 and $53,615 for the three and six months ended June 30, 2015, respectively and $54,999 and $110,369 for the three and six months ended June 30, 2014, respectively, and, prior to November 1, 2014, (2) 3.0% to properly registered selling agents as their ongoing compensation for servicing Class B limited partners (and to the extent the amount was less than 3%, the brokerage commissions with respect to such Class B limited partnership interests would be reduced accordingly). Effective November 1, 2014, the properly registered selling agents are paid through the placement agent trail fee (see Note 3.I.). Effective June 1, 2015, the General Partner no longer assesses flat-rate brokerage commissions or pays actual trading commissions on behalf of the Partnership, and the Partnership recognizes and pays actual trading commissions incurred. Approximately 35% to 45% of the actual trading commissions incurred by the Partnership is remitted by the brokers to an Introducing Broker affiliated with Bridgeton. Flat-rate brokerage commissions charged to each Class or Series of class were as follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Class A $ 23,241 $ 87,201 $ 61,120 $ 181,416 Class B – Series 1 2,251 4,323 3,625 9,473 Class B – Series 2 463 921 1,178 1,901 Class B – Series 3 - 481 - 991 Total $ 25,955 $ 92,926 $ 65,923 $ 193,781 As of December 31, 2014, $9,815 was due from the General Partner for reimbursement of actual brokerage commissions advanced by the Partnership.
F. Allocation of Income (Loss)	Net realized and unrealized trading profits and losses, interest income and other operating income and expenses, except Class or Series specific brokerage commission charges or placement agent trail fees, are allocated to the partners monthly in proportion to their capital account balances, as defined in the Agreement. Class and/or Series specific commission charges or placement agent trail fees are allocated monthly to the partners of the respective Class and/or Series in proportion to their respective capital account balances within the Class and/or Series.
G. Incentive Fees	Pursuant to the Trading Advisory Agreements with Willowbridge (“Willowbridge Agreement”), QIM (“QIM Agreement”), Revolution (“Revolution Agreement”), and Bridgeton (“Bridgeton Agreement”), the Trading Advisors are entitled to an incentive fee based on the New Profits, the New Net Profits, the New Net Total Return, or the Net New High Profits, as defined in the applicable Trading Advisory Agreements, of the Partnership’s trading assets allocated to the respective Trading Advisor. The Trading Advisors earn such incentive fees on a quarterly basis. Willowbridge was entitled to a quarterly incentive fee of 25% of any New Profits, as defined in the Willowbridge Agreement. The term “New Profits” for the purpose of calculating Willowbridge’s incentive fee only, is defined as the excess (if any) of (A) the net asset value of the Partnership’s trading assets allocated to Willowbridge as of the last day of any calendar quarter (before deduction of incentive fees paid or accrued for such quarter), over (B) the net asset value of the Partnership’s trading assets allocated to Willowbridge as of the last day of the most recent quarter for which an incentive fee was paid or payable (after deduction of such incentive fee). In computing New Profits, the difference between (A) and (B) above was (i) increased by the amount of any distributions or redemptions paid or accrued by the Partnership as of or subsequent to the date in (B) through the date in (A), (ii) adjusted (either decreased or increased, as the case may be) to reflect the amount of any additional allocations or negative reallocations of Partnership assets from the date in (B) to the last day of the quarter as of which the current incentive fee calculation is made, and (iii) increased by the amount of any losses attributable to redemptions. QIM was entitled to a quarterly incentive fee of 30% of any New Net Profits (as defined in the QIM Agreement) in the Partnership’s account as of each calendar quarter end. “New Net Profits”, for the purpose of calculating QIM’s incentive fee, is defined as the excess of cumulative gain/loss from commodity trading (excluding interest) less trading and management fees over its highest past value at any prior calendar quarterly period with respect to trading assets allocated to QIM. The “gain/loss from commodity trading” is the net gain or loss from closed and completed commodity transactions (after brokerage commissions) plus the increases/decreases in the value of open positions at the end of each calendar quarter (accounting for commissions that would be incurred by closing such open positions). In the event of any subsequent losses, the quarterly incentive fees were not charged until there were Net New Profits to offset such losses. Revolution was entitled to a quarterly incentive fee of 20% of any New Net Total Return (as defined in the Revolution Agreement) in the Partnership’s account as of each calendar quarter end. “New Net Total Return”, for the purpose of calculating Revolution’s incentive fee, is computed using the formula: (1) the net of realized profits and loss during the period, plus (2) the change in unrealized profit and loss on open positions during the period, plus (3) accrued interest income, minus (4) all brokerage commissions, transaction fees, management fees and other charges incurred during the period and minus (5) cumulative net loss, if any, carried over from previous periods. Cumulative net loss shall be computed by totaling all net profit in each period (quarter or month) in which there was such a profit and subtracting from it all net loss in each period (quarter or month) in which there was such a loss, provided that the full cumulative net loss would not be carried over where a withdrawal had occurred. Instead, a portion of the loss (calculated by dividing the withdrawn amount by the total under management and multiplying the result by the cumulative net loss) attributable to the withdrawn amount would first be subtracted from the cumulative net loss. Bridgeton is entitled to a quarterly incentive fee equal to 10% of the Net New High Profits (as defined in the Bridgeton agreement). “Net New High Profits” is defined as the excess of the cumulative realized and unrealized gain or loss from commodity trading plus interest, less monthly management fees and previous incentive fees over the highest past value at any previous calendar quarter end. In the event of subsequent losses, the incentive fee would not be charged until there are “Net New High Profits.” Incentive fees once earned are not subject to refund if subsequent periods result in losses. In connection with the termination of relationships with certain Trading Advisors, and as the high-water marks or loss carry-forwards are specific to each Trading Advisor, the prior losses associated with former Trading Advisors are no longer subject to recoupment in order for incentive fees to be assessed by Bridgeton. The incentive fee to Bridgeton will be waived until such time that the respective Class or Series’ unit net asset value exceeds the high water mark achieved in January 2015. There were no incentive fees earned for Willowbridge, QIM, Revolution, or Bridgeton for the three and six months ended June 30, 2015 and 2014.
H. Management Fees	Through October 31, 2014, the General Partner charged a general partner management fee each beginning of month at 1/12 of 1% of the Partnership’s net assets as of the beginning of the respective month. Effective November 1, 2014, the General Partner charges such management fee each beginning of month at 1/12 of 0.35% of the Partnership’s net assets as of the beginning of the respective month. For the three and six months ended June 30, 2015, the Partnership recorded management fee expense earned by the General Partner of $8,539 and $17,432, respectively, and of $23,492 and $49,028 for the three and six months ended June 30, 2014, respectively. The Partnership paid to Willowbridge a quarterly trading advisor management fee of 0.25% (1% per year) of the Partnership’s trading assets allocated to Willowbridge. The Partnership paid Revolution a monthly trading advisor management fee of 0.083% (1% per year) of the Partnership’s trading assets allocated to Revolution. The Partnership pays Bridgeton a monthly trading advisor management fee of 0.07083% (0.85% per year) of the Partnership’s trading assets allocated to Bridgeton. QIM was not paid a trading advisor management fee. The aggregate trading assets allocated to the Trading Advisors may exceed the net asset value of the Partnership, and accordingly management fees may exceed that which would be assessed based on net asset value. Management fees earned by the Trading Advisors were as follows for the three and six months ended June 30: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Bridgeton $ 20,032 $ - $ 42,016 $ - Revolution - 7,396 - 16,381 Willowbridge - 12,837 - 26,572 Total $ 20,032 $ 20,233 $ 42,016 $ 42,953 As of December 31, 2014, management fees of $253 was due to Bridgeton.
I. Placement Agent Trail Fees	Effective November 1, 2014, the Partnership pays properly registered selling agents a monthly Placement Agent Trail Fee of 0.083% (1.0% per year) for their ongoing service to the Partnership with regard to any Class A interests sold by said selling agents or a fee of 0.167% (2.0% per year) for their ongoing service to the Partnership with regard to any Class B2 interests sold by said selling agents. There is no Placement Agent Trail Fee paid by Class B1 interests. Prior to November 1, 2014, the General Partner paid such selling agent fees from the flat-rate General Partner brokerage commission charged to the Partnership. Placement agent trail fees separately paid by the Partnership for the three and six months ended June 30, 2015 totaled $22,819 and $48,017, respectively, including $1,530 and $3,137, respectively, paid to the General Partner or its affiliates. As of June 30, 2015 and December 31, 2014, $489 and $990, respectively, of placement agent fees were due to the General Partner or its affiliates and are included with other accrued expenses in the Statements of Financial Condition.
J. Income Taxes	No provision for income taxes has been provided in the accompanying financial statements as each partner is individually liable for taxes, if any, on his or her share of the Partnership’s profits. The Partnership applies the provisions of Codification Topic 740, Income Taxes The Partnership files U.S. federal and state tax returns. The 2012 through 2014 tax years generally remain subject to examination by U.S. federal and most state authorities.
K. Subscriptions	Partnership units may be purchased on the first day of each month at the net asset value per unit determined on the last business day of the previous month. Partners’ contributions received in advance for subscriptions are recorded as prepaid subscriptions in the Statements of Financial Condition.
L. Redemptions	Limited partners may redeem some or all of their units at the net asset value per unit as of the last business day of each month with at least ten days written notice to the General Partner.
M. Foreign Currency Transactions	The Partnership’s functional currency is the U.S. dollar; however, it transacts business in currencies other than the U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the respective Statement 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 (losses) resulting from the translation to U.S. dollars totaled $(2,624) and $3,217 for the three and six months ended June 30, 2015, respectively, and totaled $(1,719) and $(3,063) for the three and six months ended June 30, 2014, respectively, and are reported as a component of “Net realized (losses) on closed contracts” in the Statements of Income (Loss).
N. Indemnifications	The Partnership has entered into agreements which provide for the indemnifications against losses, costs, claims and liabilities arising from the performance of its obligations under such agreements, except for gross negligence or bad faith. The Partnership’s individual 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 generally expects the risk of loss from indemnification claims in the future to be remote.

3. SIGNIFICANT ACCOUNTING POL15

3. SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Flat-Rate Brokerage Commissions	Flat-rate brokerage commissions charged to each Class or Series of class were as follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Class A $ 23,241 $ 87,201 $ 61,120 $ 181,416 Class B – Series 1 2,251 4,323 3,625 9,473 Class B – Series 2 463 921 1,178 1,901 Class B – Series 3 - 481 - 991 Total $ 25,955 $ 92,926 $ 65,923 $ 193,781
Management fees earned by the Trading Advisors	For the Three Months Ended For the Six Months Ended June 30, June 30, 2015 2014 2015 2014 Bridgeton $ 20,032 $ - $ 42,016 $ - Revolution - 7,396 - 16,381 Willowbridge - 12,837 - 26,572 Total $ 20,032 $ 20,233 $ 42,016 $ 42,953

4. FAIR VALUE (Tables)

4. FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Fair Value	As of June 30, 2015 Description Level 1 Level 2 Level 3 Total Assets Futures contracts Commodities $ 126,503 $ - $ - $ 126,503 Currencies 33,860 - - 33,860 Energy 4,054 - - 4,054 Financials 4,636 - - 4,636 Metals 11,510 - - 11,510 Stock indices 7,994 - - 7,994 Total futures contracts 188,557 - - 188,557 Purchased options on futures contracts Energy 8,100 - - 8,100 Money market mutual funds 7,754,013 - - 7,754,013 Total assets $ 7,950,670 $ - $ - $ 7,950,670 Liabilities Futures contracts Commodities $ (16,119 ) $ - $ - $ (16,119 ) Currencies (29,395 ) (29,395 ) Energy (31,027 ) - - (31,027 ) Financials (35,250 ) - - (35,250 ) Metals (920 ) - - (920 ) Stock indices (8,481 ) - - (8,481 ) Total futures contracts (121,192 ) - - (121,192 ) Written options on futures contracts Commodities (19,125 ) - - (19,125 ) Energy (5,160 ) - - (5,160 ) Financials (3,750 ) - - (3,750 ) Stock indices (688 ) - - (688 ) Total written options on futures contracts (28,723 ) - - (28,723 ) Total liabilities $ (149,915 ) $ - $ - $ (149,915 ) As of December 31, 2014 Description Level 1 Level 2 Level 3 Total Assets Futures contracts Commodities $ 89,095 $ - $ - $ 89,095 Currencies 60,795 - - 60,795 Energy 146,851 - - 146,851 Financials 41,745 - - 41,745 Metals 46,545 - - 46,545 Stock indices 47,392 - - 47,392 Total futures contracts 432,423 - - 432,423 Purchased options on futures contracts Energy 70,200 - - 70,200 Money market mutual funds 7,751,841 - - 7,751,841 Total assets $ 8,254,464 $ - $ - $ 8,254,464 Liabilities Futures contracts Commodities $ (8,313 ) $ - $ - $ (8,313 ) Energy (6,540 ) - - (6,540 ) Financials (2,234 ) - - (2,234 ) Stock indices (10,144 ) - - (10,144 ) Total futures contracts (27,231 ) - - (27,231 ) Written options on futures contracts Energy (29,200 ) - - (29,200 ) Total liabilities $ (56,431 ) $ - $ - $ (56,431 )

5. DERIVATIVE INSTRUMENTS (Tabl

5. DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Fair value of the Partnership's derivative contracts	Offsetting of Derivative Assets and Liabilities As of June 30, 2015 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Assets Condition Condition Assets Futures Contracts(1) ADM Investor Services, Inc. $ 188,557 $ (121,192 ) $ 67,365 Options on futures contracts(1) ADM Investor Services, Inc. $ 8,100 $ - $ 8,100 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Liabilities Condition Condition Liabilities Futures Contracts(1) ADM Investor Services, Inc. $ (121,192 ) $ 121,192 $ - Options on futures contracts(1) ADM Investor Services, Inc. $ (28,723 ) $ - $ (28,723 ) Offsetting of Derivative Assets and Liabilities As of December 31, 2014 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Assets Condition Condition Assets Futures Contracts(1) ADM Investor Services, Inc. $ 432,423 $ (27,231 ) $ 405,192 Options on futures contracts(1) ADM Investor Services, Inc. $ 70,200 $ - $ 70,200 Gross Amounts Net Amounts Offset in the Presented in the Gross Amounts Statement of Statement of of Recognized Financial Financial Liabilities Condition Condition Liabilities Futures Contracts(1) ADM Investor Services, Inc. $ (27,231 ) $ 27,231 $ - Options on futures contracts(1) ADM Investor Services, Inc. $ (29,200 ) $ - $ (29,200 ) ________ (1) See Note 4. for the fair value for each type of contract within the category.
Summary of Partnership's trading results and information	For the three months ended June 30, 2015 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ (2,182 ) $ (83,378 ) $ (85,560 ) 2,378 Currencies (144,778 ) 2,097 (142,681 ) 980 Energy (635,340 ) (72,628 ) (707,968 ) 1,174 Financials (132,614 ) (72,342 ) (204,956 ) 806 Metals (15,203 ) (9,288 ) (24,491 ) 262 Stock indices (105,294 ) (14,123 ) (119,417 ) 734 Total futures contracts (1,035,411 ) (249,662 ) (1,285,073 ) 6,334 Options on futures contracts Commodities (10,421 ) (5,950 ) (16,371 ) 820 Currencies (58,673 ) 64,119 5,446 586 Energy 116,060 (7,980 ) 108,080 556 Financials 37,375 156 37,531 392 Stock indices 12,153 4,375 16,528 284 Total options on futures contracts 96,494 54,720 151,214 2,638 Total (loss) from derivatives trading $ (938,917 ) $ (194,942 ) $ (1,133,859 ) For the six months ended June 30, 2015 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ 53,369 $ 29,602 $ 82,971 4,188 Currencies 35,587 (56,330 ) (20,743 ) 1,278 Energy (642,500 ) (167,284 ) (809,784 ) 1,808 Financials (39,823 ) (70,125 ) (109,948 ) 1,266 Metals (42,108 ) (35,955 ) (78,063 ) 482 Stock indices (13,806 ) (37,735 ) (51,541 ) 1,354 Total futures contracts (649,281 ) (337,827 ) (987,108 ) 10,376 Options on futures contracts Commodities (10,421 ) (5,950 ) (16,371 ) 820 Currencies (48 ) - (48 ) 866 Energy 45,390 46,620 92,010 1,262 Financials 91,688 156 91,844 716 Stock indices 12,153 4,375 16,528 284 Total options on futures contracts 138,762 45,201 183,963 3,948 Total (loss) from derivatives trading $ (510,519 ) $ (292,626 ) $ (803,145 ) For the three months ended June 30, 2014 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ (29,953 ) $ (53,328 ) $ (83,281 ) 1,764 Currencies 21,655 24,398 46,053 1,484 Energy (164,349 ) (15,529 ) (179,878 ) 720 Financials 1,650 32,487 34,137 4,354 Metals (80,885 ) 7,545 (73,340 ) 718 Stock indices 169,338 (7,230 ) 162,108 3,586 Total futures contracts (82,544 ) (11,657 ) (94,201 ) 12,626 Notional Value of Contracts Closed Forward currency contracts 68 - 68 $ 49,821 Total (loss) from derivatives trading $ (82,476 ) $ (11,657 ) $ (94,133 ) For the six months ended June 30, 2014 Net Realized Change in Net Number of Gains Net Unrealized Trading Closed Futures contracts (Losses) Gains (Losses) Profits (Losses) Contracts Commodities $ 195,068 $ 11,917 $ 206,985 3,806 Currencies (61,475 ) (54,173 ) (115,648 ) 3,194 Energy (80,131 ) (45,397 ) (125,528 ) 1,382 Financials 148,577 (33,164 ) 115,413 9,458 Metals (174,871 ) (28,516 ) (203,387 ) 1,402 Stock indices (143,084 ) (40,667 ) (183,751 ) 6,858 Total futures contracts (115,916 ) (190,000 ) (305,916 ) 26,100 Notional Value of Contracts Closed Forward currency contracts 269 - 269 $ 156,156 Total (loss) from derivatives trading $ (115,647 ) $ (190,000 ) $ (305,647 )

6. FINANCIAL HIGHLIGHTS (Tables

6. FINANCIAL HIGHLIGHTS (Tables)	6 Months Ended
	Jun. 30, 2015
Notes to Financial Statements
Per unit operating performance data and other supplemental financial data	Three Months Ended June 30, 2015 Class B Class B Class A Series 1 Series 2 Per Unit Operating Performance (for a Unit outstanding for the entire period) Net Asset Value, beginning of the period $ 7,806.23 $ 1,060.09 $ 761.09 (Loss) from operations Net investment (loss) (82.33 ) (8.71 ) (9.81 ) Net trading (loss) (862.53 ) (117.17 ) (84.06 ) Net (loss) (944.86 ) (125.88 ) (93.87 ) Net Asset Value, end of the period $ 6,861.37 $ 934.21 $ 667.22 Total Return (1)(3) (12.10 )% (11.87 )% (12.33 )% Supplemental Data Ratios to average net asset value (2) Total expenses 5.06 % 4.06 % 6.06 % Net investment (loss) (5.01 )% (4.01 )% (6.01 )% Six Months Ended June 30, 2015 Class B Class B Class A Series 1 Series 2 Per Unit Operating Performance (for a Unit outstanding for the entire period) Net Asset Value, beginning of the period $ 7,661.59 $ 1,037.86 $ 748.85 (Loss) from operations Net investment (loss) (185.62 ) (18.89 ) (21.72 ) Net trading (loss) (614.60 ) (84.76 ) (59.91 ) Net (loss) (800.22 ) (103.65 ) (81.63 ) Net Asset Value, end of the period $ 6,861.37 $ 934.21 $ 667.22 Total Return (1)(3) (10.44 )% (9.99 )% (10.90 )% Supplemental Data Ratios to average net asset value (2) Total expenses 5.23 % 4.02 % 6.22 % Net investment (loss) (5.19 )% (3.97 )% (6.18 )% Three Months Ended June 30, 2014 Class B Class B Class B Class A Series 1 Series 2 Series 3 Per Unit Operating Performance ( for a Unit outstanding for the entire period Net Asset Value, beginning of the period $ 6,446.25 $ 866.83 $ 638.40 $ 833.79 (Loss) from operations Net investment (loss) (133.52 ) (15.81 ) (16.33 ) (19.30 ) Net trading (loss) (63.13 ) (8.51 ) (6.27 ) (8.19 ) Net (loss) (196.65 ) (24.32 ) (22.60 ) (27.49 ) Net Asset Value, end of the period $ 6,249.60 $ 842.51 $ 615.80 $ 806.30 Total Return (1)(3) (3.05 )% (2.81 )% (3.54 )% (3.30 )% Supplemental Data Ratios to average net asset value (2) Total expenses 8.52 % 8.31 % 10.47 % 9.47 % Net investment (loss) (8.52 )% (8.31 )% (10.47 )% (9.47 )% Six Months Ended June 30, 2014 Class B Class B Class B Class A Series 1 Series 2 Series 3 Per Unit Operating Performance ( for a Unit outstanding for the entire period Net Asset Value, beginning of the period $ 6,720.86 $ 901.47 $ 668.99 $ 871.50 (Loss) from operations Net investment (loss) (266.12 ) (31.28 ) (32.83 ) (38.64 ) Net trading (loss) (205.14 ) (27.68 ) (20.36 ) (26.56 ) Net (loss) (471.26 ) (58.96 ) (53.19 ) (65.20 ) Net Asset Value, end of the period $ 6,249.60 $ 842.51 $ 615.80 $ 806.30 Total Return (1)(3) (7.01 )% (6.54 )% (7.95 )% (7.48 )% Supplemental Data Ratios to average net asset value (2) Total expenses 8.27 % 7.64 % 10.25 % 9.24 % Net investment (loss) (8.26 )% (7.63 )% (10.24 )% (9.23 )% Total returns are calculated based on the change in value of a unit during the periods presented. An individual partner’s total returns and ratios may vary from the above total returns and ratios based on the timing of subscriptions and redemptions. (1) Total return is derived as ending net asset value less beginning net asset value divided by beginning net asset value, and excludes the effect of sales commissions and initial administrative charges on subscriptions. (2) Annualized. (3) Not annualized.

3. SIGNIFICANT ACCOUNTING POL19

3. SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Flat-Rate Brokerage Commission	$ 25,955	$ 92,926	$ 65,923	$ 193,781
Class A [Member]
Flat-Rate Brokerage Commission	23,241	87,201	61,120	181,416
Class B [Member] | Series 1 [Member]
Flat-Rate Brokerage Commission	2,251	4,323	3,625	9,473
Class B [Member] | Series 2 [Member]
Flat-Rate Brokerage Commission	463	921	1,178	1,901
Class B [Member] | Series 3 [Member]
Flat-Rate Brokerage Commission	$ 0	$ 481	$ 0	$ 991

3. SIGNIFICANT ACCOUNTING POL20

3. SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Investments in money market mutual funds	$ 7,754,013		$ 7,754,013		$ 7,751,841
Due from actual brokerage commissions advanced	1,191,060		1,191,060		1,723,176
Due from the General Partner for reimbursement of brokerage commissions advance					$ 9,815
Management fee expense earned by the General Partner	8,539	$ 23,492	17,432	$ 49,028
Gains/(losses) resulting from the translation to U.S. dollars	(2,624)	$ (1,719)	3,217	$ (3,063)
Placement agent trail fees separately paid by the Partnership	$ 22,819		$ 48,017

4. FAIR VALUE (Details)

4. FAIR VALUE (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Assets	$ 7,950,670	$ 8,254,464
Liabilities	(149,915)	(56,431)
Commodities
Assets	126,503	89,095
Liabilities	(16,119)	(8,313)
Currencies [Member]
Assets	33,860	60,795
Liabilities	(29,395)
Energy [Member]
Assets	4,054	146,851
Liabilities	(31,027)	(6,540)
Financials [Member]
Assets	4,636	41,745
Liabilities	(35,250)	(2,234)
Metals [Member]
Assets	11,510	46,545
Liabilities	(920)
Stock Indices [Member]
Assets	7,994	47,392
Liabilities	(8,481)	(10,144)
Future Contracts [Member]
Assets	188,557	432,423
Liabilities	(121,192)	(27,231)
Options on futures contracts Energy
Assets	8,100
Options on futures contracts Commodities
Liabilities	(19,125)
Options on futures contracts Energy
Assets		70,200
Liabilities	(5,160)	(29,200)
Options on futures contracts Financials
Liabilities	(3,750)
Options on futures contracts Stock indices
Liabilities	(688)
Total written options on futures contracts
Liabilities	(28,723)
Money Market Mutual Funds [Member]
Assets	7,754,013	7,751,841
Level 1 [Member]
Assets	7,950,670	8,254,464
Liabilities		(56,431)
Level 1 [Member] | Commodities
Assets	126,503	89,095
Liabilities	(16,119)	(8,313)
Level 1 [Member] | Currencies [Member]
Assets	33,860	60,795
Liabilities	(29,395)
Level 1 [Member] | Energy [Member]
Assets	4,054	146,851
Liabilities	(31,027)	(6,540)
Level 1 [Member] | Financials [Member]
Assets	4,636	41,745
Liabilities	(35,250)	(2,234)
Level 1 [Member] | Metals [Member]
Assets	11,510	46,545
Liabilities	(920)
Level 1 [Member] | Stock Indices [Member]
Assets	7,994	47,392
Liabilities	(8,481)	(10,144)
Level 1 [Member] | Future Contracts [Member]
Assets	188,557	432,423
Liabilities	(121,192)	(27,231)
Level 1 [Member] | Options on futures contracts Energy
Assets	8,100
Level 1 [Member] | Options on futures contracts Commodities
Liabilities	(19,125)
Level 1 [Member] | Options on futures contracts Energy
Assets		70,200
Liabilities	(5,160)	(29,200)
Level 1 [Member] | Options on futures contracts Financials
Liabilities	(3,750)
Level 1 [Member] | Options on futures contracts Stock indices
Liabilities	(688)
Level 1 [Member] | Total written options on futures contracts
Liabilities	(28,723)
Level 1 [Member] | Money Market Mutual Funds [Member]
Assets	$ 7,754,013	$ 7,751,841

5. DERIVATIVE INSTRUMENTS (Deta

5. DERIVATIVE INSTRUMENTS (Details) - ADM Investor Services, Inc. - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Futures contracts
Derivative assets gross amounts recognized assets	$ 188,557	$ 432,423
Gross amounts offset in the statement of financial condition	(121,192)	(27,231)
Net amount Presented in the Statement of Financial Condition	67,365	405,192
Gross Amounts of Recognized Liabilities	(121,192)	(27,231)
Gross Amounts Offset in the Statement of Financial Condition	121,192	27,231
Derivative Liability Fair Value	0	0
Options on Futures contracts
Derivative assets gross amounts recognized assets	8,100	70,200
Gross amounts offset in the statement of financial condition	0	0
Net amount Presented in the Statement of Financial Condition	8,100	70,200
Gross Amounts of Recognized Liabilities	(28,723)	(29,200)
Gross Amounts Offset in the Statement of Financial Condition	0	0
Derivative Liability Fair Value	$ (28,723)	$ (29,200)

5. DERIVATIVE INSTRUMENTS (De23

5. DERIVATIVE INSTRUMENTS (Details 1)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Integer	Jun. 30, 2014USD ($)Integer	Jun. 30, 2015USD ($)Integer	Jun. 30, 2014USD ($)Integer
Net Realized Gains (Losses)	$ (938,917)	$ (82,476)	$ (510,519)	$ (115,647)
Change in Net Unrealized Gains (Losses)	(194,942)	(11,657)	(292,626)	(190,000)
Net Trading Profits (Losses)	(1,133,859)	(94,133)	(803,145)	(305,647)
Commodities [Member]
Net Realized Gains (Losses)	(2,182)	(29,953)	53,369	195,068
Change in Net Unrealized Gains (Losses)	(83,378)	(53,328)	29,602	11,917
Net Trading Profits (Losses)	$ (85,560)	$ (83,281)	$ 82,971	$ 206,985
Number of Closed Contracts | Integer	2,378	1,764	4,188	3,806
Currencies [Member]
Net Realized Gains (Losses)	$ (144,778)	$ 21,655	$ 35,587	$ (61,475)
Change in Net Unrealized Gains (Losses)	2,097	24,398	(56,330)	(54,173)
Net Trading Profits (Losses)	$ (142,681)	$ 46,053	$ (20,743)	$ (115,648)
Number of Closed Contracts | Integer	980	1,484	1,278	3,194
Energy [Member]
Net Realized Gains (Losses)	$ (635,340)	$ (164,349)	$ (642,500)	$ (80,131)
Change in Net Unrealized Gains (Losses)	(72,628)	(15,529)	(167,284)	(45,397)
Net Trading Profits (Losses)	$ (707,968)	$ (179,878)	$ (809,784)	$ (125,528)
Number of Closed Contracts | Integer	1,174	720	1,808	1,382
Financials [Member]
Net Realized Gains (Losses)	$ (132,614)	$ 1,650	$ (39,823)	$ 148,577
Change in Net Unrealized Gains (Losses)	(72,342)	32,487	(70,125)	(33,164)
Net Trading Profits (Losses)	$ (204,956)	$ 34,137	$ (109,948)	$ 115,413
Number of Closed Contracts | Integer	806	4,354	1,266	9,458
Metals [Member]
Net Realized Gains (Losses)	$ (15,203)	$ (80,885)	$ (42,108)	$ (174,871)
Change in Net Unrealized Gains (Losses)	(9,288)	7,545	(35,955)	(28,516)
Net Trading Profits (Losses)	$ (24,491)	$ (73,340)	$ (78,063)	$ (203,387)
Number of Closed Contracts | Integer	262	718	482	1,402
Stock Indices [Member]
Net Realized Gains (Losses)	$ (105,294)	$ 169,338	$ (13,806)	$ (143,084)
Change in Net Unrealized Gains (Losses)	(14,123)	(7,230)	(37,735)	(40,667)
Net Trading Profits (Losses)	$ (119,417)	$ 162,108	$ (51,541)	$ (183,751)
Number of Closed Contracts | Integer	734	3,586	1,354	6,858
Futures contracts
Net Realized Gains (Losses)	$ (1,035,411)	$ (82,544)	$ (649,281)	$ (115,916)
Change in Net Unrealized Gains (Losses)	(249,662)	(11,657)	(337,827)	(190,000)
Net Trading Profits (Losses)	$ (1,285,073)	$ (94,201)	$ (987,108)	$ (305,916)
Number of Closed Contracts | Integer	6,334	12,626	10,376	26,100
Forward currency contracts
Net Realized Gains (Losses)		$ 68		$ 269
Change in Net Unrealized Gains (Losses)		0		0
Net Trading Profits (Losses)		68		269
Notional Value of Contracts Closed		$ 49,821		$ 156,156
Commodities Options
Net Realized Gains (Losses)	$ (10,421)		$ (10,421)
Change in Net Unrealized Gains (Losses)	(5,950)		(5,950)
Net Trading Profits (Losses)	$ (16,371)		$ (16,371)
Number of Closed Contracts | Integer	820		820
Currency Options
Net Realized Gains (Losses)	$ (58,673)		$ (48)
Change in Net Unrealized Gains (Losses)	64,119		0
Net Trading Profits (Losses)	$ 5,446		$ (48)
Number of Closed Contracts | Integer	586		866
Energy Options
Net Realized Gains (Losses)	$ 116,060		$ 45,390
Change in Net Unrealized Gains (Losses)	(7,980)		46,620
Net Trading Profits (Losses)	$ 108,080		$ 92,010
Number of Closed Contracts | Integer	556		1,262
Financials Options
Net Realized Gains (Losses)	$ 37,375		$ 91,688
Change in Net Unrealized Gains (Losses)	156		156
Net Trading Profits (Losses)	$ 37,531		$ 91,844
Number of Closed Contracts | Integer	392		716
Stock Indices Options
Net Realized Gains (Losses)	$ 12,153		$ 12,153
Change in Net Unrealized Gains (Losses)	4,375		4,375
Net Trading Profits (Losses)	$ 16,528		$ 16,528
Number of Closed Contracts | Integer	284		284
Total options on futures contracts
Net Realized Gains (Losses)	$ 96,494		$ 138,762
Change in Net Unrealized Gains (Losses)	54,720		45,201
Net Trading Profits (Losses)	$ 151,214		$ 183,963
Number of Closed Contracts | Integer	2,638		3,948

6. FINANCIAL HIGHLIGHTS (Detail

6. FINANCIAL HIGHLIGHTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Class A [Member]
Net Asset Value, beginning of the period	$ 7,806.23	$ 6,446.25	$ 7,661.59	$ 6,720.86
(Loss) from operations
Net investment (loss)	(82.33)	(133.52)	(185.62)	(266.12)
Net trading profits	(862.53)	(63.13)	(614.6)	(205.14)
Net (loss)	(944.86)	(196.65)	(800.22)	(471.26)
Net Asset Value, end of the period	$ 6,861.37	$ 6,249.6	$ 6,861.37	$ 6,249.6
Total Return	(12.10%)	(3.05%)	(10.44%)	(7.01%)
Ratios to average net asset value
Total expenses	5.06%	8.52%	5.23%	8.27%
Net investment (loss)	(5.01%)	(8.52%)	(5.19%)	(8.26%)
Class B [Member] | Series 1 [Member]
Net Asset Value, beginning of the period	$ 1,060.09	$ 866.83	$ 1,037.86	$ 901.47
(Loss) from operations
Net investment (loss)	(8.71)	(15.81)	(18.89)	(31.28)
Net trading profits	(117.17)	(8.51)	(84.76)	(27.68)
Net (loss)	(125.88)	(24.32)	(103.65)	(58.96)
Net Asset Value, end of the period	$ 934.21	$ 842.51	$ 934.21	$ 842.51
Total Return	(11.87%)	(2.81%)	(9.99%)	(6.54%)
Ratios to average net asset value
Total expenses	4.06%	8.31%	4.02%	(7.64%)
Net investment (loss)	(4.01%)	(8.31%)	(3.97%)	(7.63%)
Class B [Member] | Series 2 [Member]
Net Asset Value, beginning of the period	$ 761.09	$ 638.4	$ 748.85	$ 668.99
(Loss) from operations
Net investment (loss)	(9.81)	(16.33)	(21.72)	(32.83)
Net trading profits	(84.06)	(6.27)	(59.91)	(20.36)
Net (loss)	(93.87)	(22.6)	(81.63)	(53.19)
Net Asset Value, end of the period	$ 667.22	$ 615.8	$ 667.22	$ 615.8
Total Return	(12.33%)	(3.54%)	(10.90%)	(7.95%)
Ratios to average net asset value
Total expenses	6.06%	10.47%	6.22%	10.25%
Net investment (loss)	(6.01%)	(10.47%)	(6.18%)	(10.24%)
Class B [Member] | Series 3 [Member]
Net Asset Value, beginning of the period		$ 833.79		$ 871.5
(Loss) from operations
Net investment (loss)		(19.3)		(38.64)
Net trading profits		(8.19)		(26.56)
Net (loss)		(27.49)		(65.2)
Net Asset Value, end of the period		$ 806.3		$ 806.3
Total Return		(3.30%)		(7.48%)
Ratios to average net asset value
Total expenses		9.47%		9.24%
Net investment (loss)		(9.47%)		(9.23%)