Trading Activities (Tables)

12 Months Ended

Dec. 31, 2018

Brokers and Dealers [Abstract]

Summary of Gross and Net Amounts Recognized Relating to Assets and Liabilities of Partnership's Derivatives

The following tables summarize the gross and net amounts recognized relating to assets and liabilities of the Partnership’s derivatives and their offsetting subject to master netting arrangements or similar agreements as of December 31, 2018 and 2017, respectively.

				Gross Amounts			Net Amounts		Gross Amounts Not Offset in the
				Offset in the			Presented in the		Statements of Financial Condition
				Statements of			Statements of				Cash Collateral
	Gross Amounts			Financial			Financial		Financial		Received/		Net
December 31, 2018	Recognized			Condition			Condition		Instruments		Pledged*		Amount
Assets
Futures	$	2,636,639		$	(664,769	)	$	1,971,870	$	—	$	—	$	1,971,870
Forwards		835,975			(618,836	)		217,139		—		—		217,139
Total assets	$	3,472,614		$	(1,283,605	)	$	2,189,009	$	—	$	—	$	2,189,009
Liabilities
Futures	$	(664,769	)	$	664,769		$	—	$	—	$	—	$	—
Forwards		(618,836	)		618,836			—		—		—		—
Total liabilities	$	(1,283,605	)	$	1,283,605		$	—	$	—	$	—	$	—
Net fair value													$	2,189,009	*
				Gross Amounts			Net Amounts		Gross Amounts Not Offset in the
				Offset in the			Presented in the		Statements of Financial Condition
				Statements of			Statements of				Cash Collateral
	Gross Amounts			Financial			Financial		Financial		Received/		Net
December 31, 2017	Recognized			Condition			Condition		Instruments		Pledged*		Amount
Assets
Futures	$	1,027,835		$	(471,939	)	$	555,896	$	—	$	—	$	555,896
Forwards		494,616			(325,150	)		169,466		—		—		169,466
Total assets	$	1,522,451		$	(797,089	)	$	725,362	$	—	$	—	$	725,362
Liabilities
Futures	$	(471,939	)	$	471,939		$	—	$	—	$	—	$	—
Forwards		(325,150	)		325,150			—		—		—		—
Total liabilities	$	(797,089	)	$	797,089		$	—	$	—	$	—	$	—
Net fair value													$	725,362	*

* In the event of default by the Partnership, MS&Co., the Partnership’s commodity futures broker and the sole counterparty to the Partnership’s non-exchange-traded contracts, as applicable, has the right to offset the Partnership’s obligation with the Partnership’s cash and/or U.S. Treasury bills held by MS&Co., thereby minimizing MS&Co.’s risk of loss. In certain instances, MS&Co. may not post collateral and as such, in the event of default by MS&Co., the Partnership is exposed to the amount shown in the Statements of Financial Condition. In the case of exchange-traded contracts, the Partnership’s exposure to counterparty risk may be reduced since the exchange’s clearinghouse interposes its credit between buyer and seller and the clearinghouse’s guarantee funds may be available in the event of a default.

Gross Fair Values of Derivative Instruments of Futures and Forward Contracts Traded

The following tables indicate the gross fair values of derivative instruments of futures and forward contracts held directly by the Partnership as separate assets and liabilities as of December 31, 2018 and 2017, respectively.

	December 31, 2018
Assets
Futures Contracts
Currencies	$	41,947
Energy		647,829
Grains		160,024
Indices		196,704
Interest Rates U.S.		202,570
Interest Rates Non-U.S.		949,077
Livestock		26,050
Metals		140,316
Softs		272,122
Total unrealized appreciation on open futures contracts		2,636,639
Liabilities
Futures Contracts
Currencies		(70,231	)
Energy		(189,364	)
Grains		(29,138	)
Indices		(160,316	)
Interest Rates U.S.		(1,281	)
Interest Rates Non-U.S.		(28,242	)
Livestock		(1,765	)
Metals		(36,545	)
Softs		(147,887	)
Total unrealized depreciation on open futures contracts		(664,769	)
Net unrealized appreciation on open futures contracts	$	1,971,870	*
Assets
Forward Contracts
Currencies	$	443,534
Metals		392,441
Total unrealized appreciation on open forward contracts		835,975
Liabilities
Forward Contracts
Currencies		(549,780	)
Metals		(69,056	)
Total unrealized depreciation on open forward contracts		(618,836	)
Net unrealized appreciation on open forward contracts	$	217,139	**

* This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition.

** This amount is in “Net unrealized appreciation on open forward contracts” in the Statements of Financial Condition.

	December 31, 2017
Assets
Futures Contracts
Currencies	$	19,411
Energy		435,850
Grains		105,003
Indices		147,860
Interest Rates U.S.		49,180
Interest Rates Non-U.S.		64,681
Metals		105,894
Softs		99,956
Total unrealized appreciation on open futures contracts		1,027,835
Liabilities
Futures Contracts
Currencies		(2,001	)
Energy		(58,505	)
Grains		(9,538	)
Indices		(45,990	)
Interest Rates U.S.		(3,938	)
Interest Rates Non-U.S.		(197,490	)
Livestock		(7,560	)
Metals		(72,004	)
Softs		(74,913	)
Total unrealized depreciation on open futures contracts		(471,939	)
Net unrealized appreciation on open futures contracts	$	555,896	*
Assets
Forward Contracts
Currencies	$	283,891
Metals		210,725
Total unrealized appreciation on open forward contracts		494,616
Liabilities
Forward Contracts
Currencies		(167,812	)
Metals		(157,338	)
Total unrealized depreciation on open forward contracts		(325,150	)
Net unrealized appreciation on open forward contracts	$	169,466	**

* This amount is in “Net unrealized appreciation on open futures contracts” in the Statements of Financial Condition.

** This amount is in “Net unrealized appreciation on open forward contracts” in the Statements of Financial Condition.

Trading Gains and Losses by Market Sector on Derivative Instruments Traded

The following table indicates the trading gains and losses, by market sector, on derivative instruments traded directly by the Partnership for the years ended December 31, 2018, 2017 and 2016, respectively.

Sector	2018			2017			2016
Currencies	$	(2,332,511	)	$	(502,493	)	$	12,482
Energy		2,703,797			59,510			(764,839	)
Grains		(825,218	)		(618,535	)		61,794
Indices		(3,649,681	)		2,388,247			11,075
Interest Rates U.S.		265,234			(169,085	)		(30,501	)
Interest Rates Non-U.S.		(129,912	)		(553,886	)		(423,179	)
Livestock		(203,587	)		(203,797	)		24,283
Metals		(1,151,776	)		203,690			(85,005	)
Softs		(92,791	)		(117,006	)		91,922
Total	$	(5,416,445	)***	$	486,645	***	$	(1,101,968	)***

*** This amount is included in “Total trading results” in the Statements of Income and Expenses.