Financial Highlights

3 Months Ended

Mar. 31, 2020

Investment Company [Abstract]

Financial Highlights

3. Financial Highlights:

Financial highlights for the limited partner class as a whole for the three months ended March 31, 2020 and 2019 were as follows:

	For the Three Months Ended March 31,
	2020		2019
Per Unit Performance (for a unit outstanding throughout the period): *
Net realized and unrealized gains (losses)	$	(0.19)	$	0.57
Net investment loss		(0.25)		(0.18)
Net increase (decrease) for the period		(0.44)		0.39
Net asset value per Unit, beginning of period		23.36		20.45
Net asset value per Unit, end of period	$	22.92	$	20.84
	For the Three Months Ended March 31,
	2020		2019
Ratios to Average Limited Partners’ Capital: **
Net investment loss ***		(4.4)%		(3.6) %
Operating expenses before incentive fees		5.2 %		5.3 %
Incentive fees		- %		- %
Operating expenses after incentive fees		5.2 %		5.3 %
Total return:
Total return before incentive fees		(1.9)%		1.9 %
Incentive fees		- %		- %
Total return after incentive fees		(1.9)%		1.9 %

* Net investment loss per Unit is calculated by dividing the interest income less total expenses by the average number of Units outstanding during the period. The net realized and unrealized gains (losses) per Unit is a balancing amount necessary to reconcile the change in net asset value per Unit with the other per unit information.

** Annualized (except for incentive fees, if applicable).

*** Interest income less total expenses.

The above ratios and total return may vary for individual investors based on the timing of capital transactions during the period. Additionally, these ratios are calculated for the limited partner class using the limited partners’ share of income, expenses and average partners’ capital.