Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Measurements

Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

The following table presents the Partnership’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2022:

Assets and Liabilities	Level 1		Level 2		Level 3		Total
Equity in brokers' trading accounts
U.S. and foreign futures contracts	$	1,955,532	$	—	$	—	$	1,955,532
Securities owned
U.S. Government-sponsored enterprises		—		22,027,294		—		22,027,294
U.S. Government securities		—		3,996,717		—		3,996,717
U.S. Exchange-traded funds		6,470,754		—		—		6,470,754
Total	$	8,426,286	$	26,024,011	$	—	$	34,450,297

The following table presents the Partnership’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2021:

Assets and Liabilities	Level 1		Level 2		Level 3		Total
Equity in brokers' trading accounts
U.S. and foreign futures contracts	$	223,952	$	—	$	—	$	223,952
Swap contracts		—		(591,631)		—		(591,631)
Securities owned
U.S. Government-sponsored enterprises		—		20,406,689		—		20,406,689
U.S. Government securities		—		5,991,677		—		5,991,677
U.S. Exchange-traded funds		7,128,854		—		—		7,128,854
Total	$	7,352,806	$	25,806,735	$	—	$	33,159,541