Managed Futures Premier Warrington 10-K10 Mar 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	MANAGED FUTURES PREMIER WARRINGTON L.P.
Entity Central Index Key	0001353282
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Title of 12(g) Security	Redeemable Units of Limited Partnership Interest
Entity File Number	000-52603
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	20-3845577
Entity Address, Address Line One	c/o Warrington GP, LLC 200 Crescent Court
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	230-2100
Document Annual Report	true
Document Transition Report	false
Auditor Firm ID	410
Auditor Name	Weaver and Tidwell, L.L.P.
Auditor Location	Houston, TX
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
Class A [Member]
Document Information [Line Items]
Entity Limited Partnership Redeemable Units Outstanding		10,250.04
Entity Public Float			$ 14,441,804
Class D [Member]
Document Information [Line Items]
Entity Limited Partnership Redeemable Units Outstanding		290.73
Entity Public Float			$ 425,140

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Equity in trading account:
Cash (Note 3c)	$ 9,585,958	$ 15,987,465
Total trading equity	9,585,958	15,987,465
Investments in U.S. government securities, at fair value (cost $4,870,561 and $0 at December 31, 2022 and December 31, 2021, respectively)	4,924,471
Other		1,010
Total assets	14,510,429	15,988,475
Accrued expenses:
Ongoing selling agent fees (Note 3c)	23,367	25,861
Advisory fees (Note 3b)	23,648	26,245
Administrative fees (Note 3a)	11,824	13,122
Professional fees	74,667	7,250
Other	1,000
Redemptions payable (Note 5)	63,554	23,922
Total liabilities	198,060	96,400
Partners’ Capital: (Notes 1 and 5)
Total partners’ capital	14,312,369	15,892,075
Total liabilities and partners’ capital	14,510,429	15,988,475
Class GP [Member]
Partners’ Capital: (Notes 1 and 5)
General Partner, Class GP, (139.02 and 137.75 unit equivalents outstanding at December 31, 2022 and December 31, 2021, respectively)	222,807	209,210
Total partners’ capital	$ 222,807	$ 209,210
Net asset value per unit:
Net asset value per unit	$ 1,602.65	$ 1,518.78
Class A [Member]
Partners’ Capital: (Notes 1 and 5)
Limited Partners	$ 13,667,653	$ 15,265,754
Total partners’ capital	$ 13,667,653	$ 15,265,754
Net asset value per unit:
Net asset value per unit	$ 1,288.57	$ 1,283.35
Class D [Member]
Partners’ Capital: (Notes 1 and 5)
Limited Partners	$ 421,909	$ 417,111
Total partners’ capital	$ 421,909	$ 417,111
Net asset value per unit:
Net asset value per unit	$ 1,451.20	$ 1,434.70

Statements of Financial Condi_2

Statements of Financial Condition (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cost of options purchased	$ 0	$ 0
Investments in U.S. government securities, at cost	4,870,561	0
Premium received	$ 0	$ 0
Class GP [Member]
General Partner unit equivalents outstanding	139.02	137.75
Class A [Member]
Limited Partners Redeemable units outstanding	10,606.85	11,895.28
Class D [Member]
Limited Partners Redeemable units outstanding	290.73	290.73

Condensed Schedule of Investmen

Condensed Schedule of Investments	Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Investments in U.S. government securities, at cost	$ 4,870,561
Treasury Bill 0% due February 2, 2023 [Member]
Schedule of Investments [Line Items]
Investments in U.S. government securities, at cost	1,250,000
Fair Value	$ 1,246,733
% of Partners’ Capital	8.71%
Treasury Bill 0% due May 18, 2023 [Member]
Schedule of Investments [Line Items]
Investments in U.S. government securities, at cost	$ 1,250,000
Fair Value	$ 1,235,872
% of Partners’ Capital	8.64%
Treasury Bill 0% due July 13, 2023 [Member]
Schedule of Investments [Line Items]
Investments in U.S. government securities, at cost	$ 1,250,000
Fair Value	$ 1,229,259
% of Partners’ Capital	8.59%
Treasury Bill 0% due September 7, 2023 [Member]
Schedule of Investments [Line Items]
Investments in U.S. government securities, at cost	$ 1,250,000
Fair Value	$ 1,212,607
% of Partners’ Capital	8.47%
U.S. Government Securities [Member]
Schedule of Investments [Line Items]
Fair Value	$ 4,924,471
% of Partners’ Capital	34.41%

Condensed Schedule of Investm_2

Condensed Schedule of Investments (Parenthetical) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
U.S. government securities at cost	$ 4,870,561
Options purchased at cost		$ 0
Premium received	$ 0	$ 0
Treasury Bill 0% due February 2, 2023 [Member]
Schedule of Investments [Line Items]
Investment maturity date	Feb. 02, 2023
Investment interest rate	0%
Treasury Bill 0% due May 18, 2023 [Member]
Schedule of Investments [Line Items]
Investment maturity date	May 18, 2023
Investment interest rate	0%
Treasury Bill 0% due July 13, 2023 [Member]
Schedule of Investments [Line Items]
Investment maturity date	Jul. 13, 2023
Investment interest rate	0%
Treasury Bill 0% due September 7, 2023 [Member]
Schedule of Investments [Line Items]
Investment maturity date	Sep. 07, 2023
Investment interest rate	0%

Statements of Income and Expens

Statements of Income and Expenses - USD ($)		12 Months Ended
Statements of Income and Expenses - USD ($)		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investment Income:
Interest income (Note 3c)		$ 61,191		$ 82,500
Expenses:
Ongoing selling agent fees (Note 3c)		290,383	$ 351,823	555,002
Clearing fees		175,293	270,566	340,389
Advisory fees (Note 3b)		300,590	361,999	565,549
Administrative fees (Note 3a)		150,296	180,998	282,774
Professional fees		307,623	288,512	298,354
Other		1,564	(4,209)	6,169
Total expenses		1,225,749	1,449,689	2,048,237
Net investment income (loss)		(1,164,558)	(1,449,689)	(1,965,737)
Net gains (losses) on trading of commodity interests:
Net realized gains (losses) on closed contracts		1,254,304	1,822,707	1,445,017
Change in net unrealized gains (losses) on open contracts			2,089	12,760
Total trading results		1,254,304	1,824,796	1,457,777
Net income (loss) before allocation to Special Limited Partner		89,746	375,107	(507,960)
Allocation to Special Limited Partner (Note 3b)		(2,007)	(816)
Net income (loss) available for Pro rata distribution
Net income (loss)		87,739	374,291	(507,960)
Class A [Member]
Net income (loss) available for Pro rata distribution
Net income (loss)		$ 71,351	$ 346,294	$ (511,589)
Net income (loss) per unit (Note 6):*
Net income (loss) per unit	[1]	$ 5.22	$ 28.67	$ (20.52)
Weighted average units outstanding:
Weighted average units outstanding		11,268.07	14,005.52	21,996.17
Class D [Member]
Net income (loss) available for Pro rata distribution
Net income (loss)		$ 4,798	$ 13,457	$ (2,790)
Net income (loss) per unit (Note 6):*
Net income (loss) per unit	[1]	$ 16.50	$ 46.29	$ (5.44)
Weighted average units outstanding:
Weighted average units outstanding		290.73	290.73	376.82
Class GP [Member]
Net income (loss) available for Pro rata distribution
Net income (loss)		$ 11,590	$ 14,540	$ 6,419
Net income (loss) per unit (Note 6):*
Net income (loss) per unit	[1]	$ 83.87	$ 105.96	$ 46.75
Weighted average units outstanding:
Weighted average units outstanding		138.47	137.21	137.21

[1]Based on change in net asset value per unit

Statements of Changes in Partne

Statements of Changes in Partners' Capital - USD ($)	Total	Special Limited Partner [Member]	Limited Partners [Member]	Class A [Member]	Class A [Member] Limited Partners [Member]	Class D [Member]	Class D [Member] Limited Partners [Member]	Class GP [Member]	Class GP [Member] Special Limited Partner [Member]
Partners' capital, Amount, beginning balance at Dec. 31, 2019	$ 33,920,265			$ 33,162,002		$ 570,828		$ 187,435
Partners' capital, Units, beginning balance at Dec. 31, 2019	26,552.15			26,005.41		409.53		137.21
Net Income (loss) available for pro rata distribution	$ (507,960)			$ (511,589)		$ (2,790)		$ 6,419
Redemptions, Amount			$ (11,926,143)		$ (11,761,759)		$ (164,384)
Redemptions, Units			(9,475.67)		(9,356.87)		(118.80)
Partners' capital, Amount, ending balance at Dec. 31, 2020	$ 21,486,162			$ 20,888,654		$ 403,654		$ 193,854
Partners' capital, Units, ending balance at Dec. 31, 2020	17,076.48			16,648.54		290.73		137.21
Net Income (loss) available for pro rata distribution	$ 374,291			$ 346,294		$ 13,457		$ 14,540
Allocation of Redeemable Units to Special Limited Partner, Amount		$ 816							$ 816
Allocation of Redeemable Units to Special Limited Partner, Units		0.54							0.54
Redemptions, Amount			$ (5,969,194)		$ (5,969,194)
Redemptions, Units			(4,753.26)		(4,753.26)
Partners' capital, Amount, ending balance at Dec. 31, 2021	$ 15,892,075			$ 15,265,754		$ 417,111		$ 209,210
Partners' capital, Units, ending balance at Dec. 31, 2021	12,323.76			11,895.28		290.73		137.75
Net Income (loss) available for pro rata distribution	$ 87,739			$ 71,351		$ 4,798		$ 11,590
Allocation of Redeemable Units to Special Limited Partner, Amount		$ 2,007							$ 2,007
Allocation of Redeemable Units to Special Limited Partner, Units		1.27							1.27
Redemptions, Amount			$ (1,669,452)		$ (1,669,452)
Redemptions, Units			(1,288.43)		(1,288.43)
Partners' capital, Amount, ending balance at Dec. 31, 2022	$ 14,312,369			$ 13,667,653		$ 421,909		$ 222,807
Partners' capital, Units, ending balance at Dec. 31, 2022	11,036.60			10,606.85		290.73		139.02

Statements of Changes in Part_2

Statements of Changes in Partners' Capital (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A [Member]
Net Asset Value Per Unit	$ 1,288.57	$ 1,283.35	$ 1,254.68
Class D [Member]
Net Asset Value Per Unit	1,451.20	1,434.70	1,388.41
Class GP [Member]
Net Asset Value Per Unit	$ 1,602.65	$ 1,518.78	$ 1,412.82

Partnership Organization

Partnership Organization	12 Months Ended
Partnership Organization	Dec. 31, 2022
Accounting Policies [Abstract]
Partnership Organization	1. Partnership Organization: Managed Futures Premier Warrington L.P. (formerly known as Warrington Fund L.P.) (the “Partnership”) is a limited partnership organized on November 28, 2005, under the partnership laws of the State of New York to engage in the speculative trading of commodity interests including futures and option contracts. The Partnership does not currently intend to, but may in the future, engage in transactions in spot and forward markets. The Partnership primarily trades futures and options in the stock indices sector. The Partnership may also hold U.S. Treasury Bills (“T-Bills”). The Partnership commenced trading on February 21, 2006. The commodity interests that are traded by the Partnership are volatile and involve a high degree of market risk. The Partnership privately and continuously offers redeemable units of limited partnership interest (“Redeemable Units”) in the Partnership to qualified investors. There is no maximum number of Redeemable Units that may be sold by the Partnership. Effective as of the close of business on March 31, 2015, Warrington GP, LLC, a Delaware limited liability company, acts as the general partner (the “General Partner”) and commodity pool operator of the Partnership. The General Partner is beneficially owned by Scott C. Kimple. From inception to the close of business on March 31, 2015, Ceres Managed Futures LLC, a Delaware limited liability company, acted as the general partner (“CMF GP”) and commodity pool operator of the Partnership. On January 9, 2015, Scott C. Kimple proposed in a Proxy Statement, which was filed with the Securities and Exchange Commission (the “SEC”) and distributed to Limited Partners (defined below), that Warrington GP, LLC become the new general partner of the Partnership. The requisite number of each class of limited partnership interests approved the proposals described in the Proxy Statement, and, as a result, Warrington GP, LLC became the new general partner of the Partnership effective as of the close of business on March 31, 2015. CMF GP withdrew as the general partner of the Partnership immediately following Warrington GP, LLC becoming the Partnership’s new general partner. References to the “General Partner” herein refer to Warrington GP, LLC and/or CMF GP, as the context requires. Effective as of the close of business on March 31, 2015, Warrington SLP, LP, a Delaware limited liability company and an affiliate of the General Partner, became a special limited partner of the Partnership (the “Special Limited Partner”) and receives a quarterly profit share allocation equal to 20% of new trading profits from the Partnership in the form of Special Limited Partner unit equivalents, subject to a high water mark. All of the trading decisions for the Partnership are made by Warrington Asset Management LLC (the “Advisor”), an affiliate of the General Partner, using the Strategic Trading Program (formerly, the “Core Trading Program”), a proprietary trading program. The General Partner is not aware of any material changes to the trading program discussed above during the fiscal year ended December 31, 2022. On June 15, 2011, the Partnership began offering “Class A” Redeemable Units and “Class D” Redeemable Units pursuant to the offering memorandum. All outstanding Redeemable Units on June 15, 2011 were designated Class A Redeemable Units. The rights, powers, duties and obligations associated with the investment in Class A Redeemable Units were not changed. On October 1, 2011, the first Class D Redeemable Units were issued to limited partners of the Partnership (each a “Limited Partner”). Class A Redeemable Units and Class D Redeemable Units will each be referred to as a “Class” and collectively referred to as the “Classes.” The Class of Redeemable Units that a Limited Partner receives will generally depend upon the amount invested in the Partnership, although the General Partner may determine to offer Class A Redeemable Units or Class D Redeemable Units to investors in its sole discretion. On May 1, 2015, a new share class of units of general partner interest “Class GP” was initiated to accept an investment from the General Partner. During the twelve months ended December 31, 2022, the Partnership’s commodity brokers were Wedbush Securities, Inc. (“Wedbush”) and ADM Investor Services, Inc. (“ADM”), both of whom are registered futures commission merchants. During prior periods included in this report, the Partnership also engaged in futures and options trading through a commodity brokerage account maintained at HSBC Securities (USA) Inc. (“HSBC”). The Partnership paid HSBC trading fees for the clearing and, if applicable, execution of transactions. HSBC did not pay the partnership interest on excess cash balances. Effective September 30, 2020, the HSBC customer agreement was terminated. The HSBC Customer Agreement was terminated because the Partnership is no longer engaged in such trading through accounts at HSBC. The Partnership continues to engage in such trading through commodity brokerage accounts at Wedbush and ADM. Effective November 27, 2018, the Partnership entered into a commodity futures customer agreement with HSBC (the “HSBC Customer Agreement”); however, the Partnership did not engage in any trading activity through HSBC until September 4, 2019. The Partnership paid HSBC trading fees for the clearing and, if applicable, execution of transactions. Effective September 30, 2020, the HSBC customer agreement was terminated because the Partnership is no longer engaged in such trading through accounts at HSBC. Effective April 21, 2017, the Partnership entered into a commodity futures customer agreement with Wedbush (the “Wedbush Customer Agreement”); however, the Partnership did not engage in any trading activity through Wedbush until June 26, 2017. The Partnership pays Wedbush trading fees for the clearing and, if applicable, execution of transactions. In addition, with respect to excess cash, Wedbush does not pay interest on excess cash held in the Partnership’s account. The excess cash balances will be monitored and are expected to have an immaterial impact on the interest earned. Effective March 13, 2017, the Partnership entered into a commodity futures customer agreement with ADM (the “ADM Customer Agreement”); however, the Partnership did not engage in any trading activity through ADM until April 6, 2017. The Partnership pays ADM trading fees for the clearing and, if applicable, execution of transactions. In addition, with respect to excess cash, ADM does not pay interest on excess cash held in the Partnership’s account. The excess cash balances will be monitored and are expected to have an immaterial impact on the interest earned. The General Partner and each Limited Partner share in the profits and losses of the Partnership, after the allocation to the Special Limited Partner, in proportion to the amount of Partnership interest owned by each, except that no Limited Partner shall be liable for obligations of the Partnership in excess of its capital contribution and profits, if any, net of distributions and losses, if any. The Partnership will be liquidated upon the first to occur of the following: December 31, 2025; when the net asset value per Redeemable Unit of any Class decreases to less than $400 as of the close of trading on any business day; or under certain other circumstances as defined in the limited partnership agreement of the Partnership, as amended and/or restated from time to time (the “Limited Partnership Agreement”). In addition, the General Partner may, in its sole discretion, cause the Partnership to dissolve if the Partnership’s aggregate net assets decline to less than $1,000,000.

Accounting Policies

Accounting Policies	12 Months Ended
Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Accounting Policies	2. Accounting Policies: a. Use of Estimates. b. Partnership’s Investments. c. Partnership’s Fair Value Measurements. The Partnership will separately present purchases, sales, issuances, and settlements in its reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP. The Partnership considers prices for exchange-traded commodity futures and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of futures and certain option contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the years ended December 31, 2022 and 2021, the Partnership did not hold any derivative instruments for which market quotations were not readily available and that were priced at fair value using significant unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). As such a rollforward of Level 3 derivative instruments was not presented, nor was a table presenting unobservable inputs used by management in the fair value measurement process. During the years ended December 31, 2022 and 2021, there were no transfers of assets or liabilities between Level 1 and Level 2. December 31, 2022 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ 4,924,471 $ — $ 4,924,471 $ — Options purchased — — — — Total assets 4,924,471 — 4,924,471 — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ 4,924,471 $ — $ 4,924,471 $ — December 31, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ — $ — $ — $ — Options purchased — — — — Total assets — — — — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ — $ — $ — $ — d. Futures Contracts ® exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses. e. Options f. Income Taxes GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements. The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2018 through 2022 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability. g. United States Treasury Bills h. Investment Company Status

Agreements

Agreements	12 Months Ended
Agreements	Dec. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Agreements	3. Agreements a. Limited Partnership Agreement: The General Partner administers the business and affairs of the Partnership including selecting one or more advisors to make trading decisions for the Partnership. The Partnership pays the General Partner a monthly administrative fee in return for its services to the Partnership equal to 1/12 b. Management Agreement: The Advisor or one of its affiliates, all of which are controlled by Scott C. Kimple, has served as the Partnership’s commodity trading advisor since inception. The General Partner and the Partnership have entered into a management agreement (the “Management Agreement”) with the Advisor. As compensation for services, the Partnership pays the Advisor a monthly advisory fee equal to 1/12 In addition, the Special Limited Partner receives a quarterly profit share allocation to its capital account in the Partnership in the form of Redeemable Units of the Partnership, the value of which shall be equal to 20% of new trading profits, as defined in the Limited Partnership Agreement, earned for each outstanding Class by the Advisor on behalf of the Partnership during each calendar quarter and are issued as Special Limited Partner unit equivalents. The Special Limited Partner will not receive a profit share allocation until the Advisor recovers the net loss incurred and earns additional new trading profits for the Partnership. In allocating substantially all of the assets of the Partnership to the Advisor, the General Partner considers the Advisor’s past performance, trading style, volatility of the markets traded and fee requirements. The General Partner may modify or terminate the allocation of assets to the Advisor at any time. c. Customer Agreement/Selling Agent Agreement: During the fourth quarter of 2013, the Partnership entered into a Selling Agent Agreement with Morgan Stanley Wealth Management. Effective April 1, 2015, the Partnership entered into continuing services agreements with each of Morgan Stanley Wealth Management and Credit Suisse Securities (USA) LLC and a selling agreement with Robert W. Baird & Co. Incorporated (“Baird”). Under the Wedbush and ADM Customer Agreements, the Partnership pays trading fees for the clearing and, where applicable, execution of transactions, as well as exchange, clearing, user, give-up, floor brokerage and NFA fees (collectively, the “Wedbush, ADM and HSBC clearing fees,” the “clearing fees”) directly. Clearing fees will be paid for the life of the Partnership, although the rate at which such fees are paid may be changed. The portion of the Partnership’s cash held at Wedbush and ADM are in segregated bank accounts to the extent required by CFTC regulations. At December 31, 2022 and 2021 the amount of cash held for margin requirements at Wedbush and ADM was $0 and $0 , and $0 and $0, respectively. Wedbush and ADM do not, and HSBC did not, pay interest on excess cash held in the Partnership’s accounts. The excess cash balances will be monitored and are expected to have an immaterial impact on the interest earned. Under the continuing services agreement with Morgan Stanley Wealth Management, the Partnership pays Morgan Stanley Wealth Management a monthly fee in respect of certain partnership interests which have been sold to certain individuals and entities with an ongoing relationship with Morgan Stanley Wealth Management (the “MS Interests”) equal to (i) 1/12 1/12 Under the continuing services agreement with Credit Suisse Securities (USA) LLC, the Partnership pays Credit Suisse Securities (USA) LLC a monthly fee in respect of certain partnership interests which have been sold to certain individuals and entities with an ongoing relationship with Credit Suisse Securities (USA) LLC (the “CS Interests”) equal to (i) 1/12 1/12 Under the selling agreement with Baird, the Partnership pays Baird a monthly ongoing selling agent fee equal to (i) 1/12 1/12 1/12 1/12 For purposes of calculating the fees paid to selling agents, adjusted net assets are month-end Net Assets, as defined in the Partnership Agreement, increased by that month’s ongoing selling agent fee, advisory, profit share allocation accrual, the general’s partner’s administrative fee and other expenses and any redemptions or distributions as of the end of such month.

Trading Activities

Trading Activities	12 Months Ended
Trading Activities	Dec. 31, 2022
Brokers And Dealers [Abstract]
Trading Activities	4. Trading Activities: The Partnership was formed for the purpose of trading contracts in a variety of commodity interests, including derivative financial instruments and derivative commodity instruments. The results of the Partnership’s trading activities are shown in the Statements of Income and Expenses. The Wedbush and ADM Customer Agreements give, and the HSBC Customer Agreement gave, the Partnership the legal right to net unrealized gains and losses on open futures and option contracts. The Partnership netted as applicable, for financial reporting purposes, the unrealized gains and losses on open futures and option contracts on the Statements of Financial Condition as the criteria under Accounting Standards Codification 210-20, “Balance Sheet,” have been met. Ongoing selling agent fees paid to Baird, Morgan Stanley Wealth Management and Credit Suisse Securities (USA) LLC were calculated as a percentage of the Partnership’s adjusted net asset value on the last day of each month and were affected by trading performance, subscriptions and redemptions. Trading and transaction fees are based on the number of trades executed by the Advisor for the Partnership. All clearing fees paid to Wedbush, ADM and executing brokers, as applicable, are and all clearing fees paid to HSBC, were, borne by the Partnership. All of the commodity interests owned by the Partnership are held for trading purposes. The monthly average number of option contracts held during the years ended December 31, 2022 and 2021 was 1,512 and 577, respectively. The following tables summarize the valuation of the Partnership’s investments in derivative instruments as of December 31, 2022 and 2021: Gross Amounts not Offset in the Statements of Financial Condition December 31, 2022 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial condition Amounts Presented in the Statements of Financial condition Financial Instruments Cash Collateral Net Amount Assets Options purchased $ — $ — $ — $ — $ — $ — Total assets — — — — — — Liabilities Written options $ — $ — $ — $ — $ — $ — Total liabilities — — — — — — Net fair value $ — Gross Amounts not Offset in the Statements of Financial Condition December 31, 2021 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial condition Amounts Presented in the Statements of Financial condition Financial Instruments Cash Collateral Net Amount Assets Options purchased $ — $ — $ — $ — $ — $ — Total assets — — — — — — Liabilities Written options $ — $ — $ — $ — $ — $ — Total liabilities — — — — — — Net fair value $ — The following table indicates the gross fair values of derivative instruments of option contracts as separate assets and liabilities as of December 31, 2022 and 2021: 2022 2021 Assets Options Purchased Indices $ — $ — Total options purchased $ — $ — * * This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition. 2022 2021 Liabilities Written Options Indices $ — $ — Total written options $ — $ — This amount is included in “Written options, at fair value” on the Statements of Financial Condition. The following table indicates the trading gains and losses, by market sector, on derivative instruments for the years ended December 31, 2022, 2021 and 2020: Sector - Indices 2022 2021 2020 Net realized gains (losses) on closed contracts $ 1,254,304 $ 1,822,707 $ 1,445,017 Change in net unrealized gains (losses) on open contracts - 2,089 12,760 Total trading results $ 1,254,304 * $ 1,824,796 * $ 1,457,777 * *** This amount is included in “Total trading results” on the Statements of Income and Expenses. The following table rolls forward the transactions in Options Written for the year ended December 31, 2022: Calls Puts Notional (000) Notional (000) Contracts USD Premiums Received Contracts USD Premiums Received Outstanding options, beginning of year — $ — $ — — $ — $ — Options written 5,666 1,285,673 69,164 76,396 14,424,821 5,056,050 Options exercised (60 ) (12,870 ) (18,000 ) Options expired (5,666 ) (1,285,673 ) (69,164 ) (61,348 ) (11,404,043 ) (3,519,240 ) Options closed (14,988 ) (3,007,908 ) (1,518,810 ) Outstanding options, end of period - $ - $ - - $ - $ - The fund experienced a net trading loss from futures contracts in 2022 of $6,740 from 70 contracts.

Subscriptions, Distributions an

Subscriptions, Distributions and Redemptions	12 Months Ended
Subscriptions, Distributions and Redemptions	Dec. 31, 2022
Equity [Abstract]
Subscriptions, Distributions and Redemptions	5. Subscriptions, Distributions and Redemptions: Subscriptions are accepted monthly from investors and they become Limited Partners on the first day of the month after their subscription is processed. Distributions of profits, if any, will be made at the sole discretion of the General Partner and at such times as the General Partner may decide. A Limited Partner may require the Partnership to redeem its Redeemable Units at their net asset value as of the end of a month on three business days’ notice to the General Partner. There is no fee charged to Limited Partners in connection with redemptions.

Financial Highlights

Financial Highlights	12 Months Ended
Financial Highlights	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Financial Highlights	6. Financial Highlights: Changes in the net asset value per Unit for the years ended December 31, 2022, 2021 and 2020 were as follows: 2022 2022 2021 2021 2020 2020 Class A Class D Class A Class D Class A Class D Net realized and unrealized gains (losses) $ 105.45 $ 118.18 $ 130.07 $ 144.86 $ 68.07 $ 74.94 Interest Income 5.40 6.07 - - 3.23 3.53 Expenses and allocation to Special Limited Partner (105.63 ) (107.75 ) (101.40 ) (98.57 ) (91.82 ) (83.91 ) Increase (decrease) for the period 5.22 16.50 28.67 46.29 (20.52 ) (5.44 ) Net asset value per unit, beginning of period 1,283.35 1,434.70 1,254.68 1,388.41 1,275.20 1,393.85 Net asset value per unit, end of period $ 1,288.57 $ 1,451.20 $ 1,283.35 $ 1,434.70 $ 1,254.68 $ 1,388.41 2022 2022 2021 2021 2020 2020 Class A Class D Class A Class D Class A Class D Ratios to Average Net Assets: Net investment income (loss) (7.8 )% (6.5 )% (8.1 )% (6.8 )% (7.1 )% (5.9 )% Allocation to Special Limited Partner — % (0.5 )% — % (0.2 )% — % — % Net investment income (loss) after allocation to Special Limited Partner (7.8 )% (7.0 )% (8.1 )% (7.0 )% (7.1 )% (5.9 )% Operating expenses 8.2 % 7.0 % 8.1 % 6.8 % 7.4 % 6.1 % Allocation to Special Limited Partner — % 0.5 % — % 0.2 % — % — % Total expenses 8.2 % 7.5 % 8.1 % 7.0 % 7.4 % 6.1 % Total return: Total return before allocation to Special Limited Partner 0.4 % 1.7 % 2.3 % 3.5 % (1.6 )% (0.4 )% Allocation to Special Limited Partner — % (0.5 )% — % (0.2 )% — % — % Total return after allocation to Special Limited Partner 0.4 % 1.2 % 2.3 % 3.3 % (1.6 )% (0.4 )% ** Interest income less total expenses (exclusive of allocation to Special Limited Partner, if applicable). The above ratios may vary for individual investors based on the timing of capital transactions during the year. Additionally, these ratios are calculated for the Limited Partner Classes using the Limited Partners’ share of income, expenses and average net assets.

Financial Instrument Risks

Financial Instrument Risks	12 Months Ended
Financial Instrument Risks	Dec. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instrument Risks	7 . Financial Instrument Risks: In the normal course of business, the Partnership is party to financial instruments with off-balance-sheet risk, including derivative financial instruments and derivative commodity instruments. These financial instruments may include futures and options, whose values are based upon an underlying asset, index, or reference rate, and generally represent future commitments to exchange currencies or cash balances, to purchase or sell other financial instruments on specific terms at specified future dates, or, in the case of derivative commodity instruments, to have a reasonable possibility to be settled in cash, through physical delivery or with another financial instrument. These instruments may be traded on an exchange or over-the-counter (“OTC”). Exchange-traded instruments include futures and certain standardized forward, option and swap contracts. OTC contracts are negotiated between contracting parties and include certain forward and option contracts. Specific market movements of commodities or futures contracts underlying an option cannot accurately be predicted. The purchaser of an option may lose the entire premium paid for the option. The writer, or seller, of an option has unlimited risk. Each of these instruments is subject to various risks similar to those relating to the underlying financial instruments, including market and credit risk. In general, the risks associated with OTC contracts are greater than those associated with exchange-traded instruments because of the greater risk of default by the counterparty to an OTC contract. None of the Partnership’s current contracts are traded OTC, although contracts may be traded OTC in the future. Market risk is the potential for changes in the value of the financial instruments traded by the Partnership due to market changes, including interest rate movements and fluctuations in commodity or security prices. Market risk is directly impacted by the volatility and liquidity in the markets in which the related underlying assets are traded. The Partnership is exposed to market risk equal to the value of futures contracts purchased and unlimited liability on such contracts sold short. Credit risk is the possibility that a loss may occur due to the failure of a counterparty to perform according to the terms of a contract. The Partnership’s risk of loss in the event of a counterparty default is typically limited to the amounts recognized in the Statements of Financial Condition and is not represented by the contract or notional amounts of the instruments. The Partnership’s risk of loss is reduced through the use of legally enforceable master netting agreements with counterparties that permit the Partnership to offset unrealized gains and losses and other assets and liabilities with such counterparties upon the occurrence of certain events. The Partnership had credit risk and concentration risk during the reporting period and prior periods included in this report, as Wedbush, ADM and HSBC, or their affiliates, were the sole counterparties or brokers with respect to the Partnership’s assets. Credit risk with respect to exchange-traded instruments is reduced to the extent that, through Wedbush, ADM or HSBC, or their affiliates, the Partnership’s counterparty is an exchange or clearing organization. The Partnership continues to be subject to such risks with respect to Wedbush and ADM. The Partnership’s trading will be concentrated in exchange-traded futures and options on the S&P 500 ® As both a buyer and seller of options, the Partnership pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. Written options expose the Partnership to potentially unlimited liability; for purchased options, the risk of loss is limited to the premiums paid. Certain written put options permit cash settlement and do not require the option holder to own the reference asset. The Partnership does not consider these contracts to be guarantees. The General Partner monitors and attempts to control the Partnership’s risk exposure on a daily basis through financial, credit and risk management monitoring systems, and, accordingly, believes that it has effective procedures for evaluating and limiting the credit and market risks to which the Partnership may be subject. These monitoring systems generally allow the General Partner to statistically analyze actual trading results with risk-adjusted performance indicators and correlation statistics. In addition, online monitoring systems provide account analysis of futures and option contracts by sector, margin requirements, gain and loss transactions and collateral positions. The risk to the Limited Partners that have purchased Redeemable Units is limited to the amount of their share of the Partnership’s net assets and undistributed profits. This limited liability is a result of the organization of the Partnership as a limited partnership under New York law. The majority of these financial instruments mature within one year of the inception date. However, due to the nature of the Partnership’s business, these instruments may not be held to maturity.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	8. Subsequent Events: The General Partner evaluated events that occurred after the balance sheet date but before the financial statements were issued. Subsequent to December 31, 2022, the General Partner decided to initiate the orderly wind down of the Partnership. It's estimated this wind down will be completed by March 31, 2023 and liquidating distributions will be paid to partners as soon as practical.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
Selected Quarterly Financial Data (Unaudited)	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	9. Selected Quarterly Financial Data (Unaudited): Selected unaudited quarterly financial data for the years ended December 31, 2022 and 2021 are summarized below: For the period from October 1, 2022 to December 31, 2022 For the period from July 1, 2022 to September 30, 2022 For the period from April 1, 2022 to June 30, 2022 For the period from January 1, 2022 to March 31, 2022 Net realized and unrealized trading gains (losses) net of ongoing selling agent fees and clearing fees including interest income $ 101,611 $ 79,460 $ 422,650 $ 246,098 Net income (loss) before allocation to Special Limited Partner $ (85,727 ) $ (110,710 ) $ 231,591 $ 54,592 Net income (loss) after allocation to Special Limited Partner $ (85,727 ) $ (110,710 ) $ 230,102 $ 54,074 Increase (decrease) in net asset value per unit Class A $ (7.84 ) $ (9.91 ) $ 18.91 $ 4.06 Increase (decrease) in net asset value per unit Class D $ (4.42 ) $ (6.69 ) $ 20.48 $ 7.13 For the period from October 1, 2021 to December 31, 2021 For the period from July 1, 2021 to September 30, 2021 For the period from April 1, 2021 to June 30, 2021 For the period from January 1, 2021 to March 31, 2021 Net realized and unrealized trading gains (losses) net of ongoing selling agent fees and clearing fees including interest income $ 438,516 $ 196,195 $ 141,633 $ 426,063 Net income (loss) before allocation to Special Limited Partner $ 246,391 $ (6,084 ) $ (67,159 ) $ 201,959 Net income (loss) after allocation to Special Limited Partner $ 245,575 $ (6,084 ) $ (67,159 ) $ 201,959 Increase (decrease) in net asset value per unit Class A $ 19.28 $ 1.53 $ (4.79 ) $ 12.65 Increase (decrease) in net asset value per unit Class D $ 23.07 $ 6.01 $ (1.04 ) $ 18.25

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
Accounting Policies (Policies)	Dec. 31, 2022
Use of Estimates	a. Use of Estimates.
Partnership's Investments	b. Partnership’s Investments.
Partnership's Fair Value Measurements	c. Partnership’s Fair Value Measurements. The Partnership will separately present purchases, sales, issuances, and settlements in its reconciliation of Level 3 fair value measurements (i.e., to present such items on a gross basis rather than on a net basis), and make disclosures regarding the level of disaggregation and the inputs and valuation techniques used to measure fair value for measurements that fall within either Level 2 or Level 3 of the fair value hierarchy as required under GAAP. The Partnership considers prices for exchange-traded commodity futures and option contracts to be based on unadjusted quoted prices in active markets for identical assets and liabilities (Level 1). The values of futures and certain option contracts for which market quotations are not readily available are priced by broker-dealers that derive fair values for those assets and liabilities from observable inputs (Level 2). As of and for the years ended December 31, 2022 and 2021, the Partnership did not hold any derivative instruments for which market quotations were not readily available and that were priced at fair value using significant unobservable inputs through the application of the General Partner’s assumptions and internal valuation pricing models (Level 3). As such a rollforward of Level 3 derivative instruments was not presented, nor was a table presenting unobservable inputs used by management in the fair value measurement process. During the years ended December 31, 2022 and 2021, there were no transfers of assets or liabilities between Level 1 and Level 2. December 31, 2022 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ 4,924,471 $ — $ 4,924,471 $ — Options purchased — — — — Total assets 4,924,471 — 4,924,471 — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ 4,924,471 $ — $ 4,924,471 $ — December 31, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ — $ — $ — $ — Options purchased — — — — Total assets — — — — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ — $ — $ — $ —
Futures Contracts	d. Futures Contracts ® exchange on which the contracts are traded. Net realized gains (losses) and changes in net unrealized gains (losses) on futures contracts are included in the Statements of Income and Expenses.
Options	e. Options
Income Taxes	f. Income Taxes GAAP provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements and requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” to be sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax benefit or expense in the current year. The General Partner has concluded that no provision for income tax is required in the Partnership’s financial statements. The Partnership files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The 2018 through 2022 tax years remain subject to examination by U.S. federal and most state tax authorities. The General Partner does not believe that there are any uncertain tax positions that require recognition of a tax liability.
Investment Company Status	h. Investment Company Status
United States Treasury Bills [Member]
United States Treasury Bills	g. United States Treasury Bills

Accounting Policies (Tables)

Accounting Policies (Tables)	12 Months Ended
Accounting Policies (Tables)	Dec. 31, 2022
Accounting Policies [Abstract]
Derivative Fair Value of Assets and Liabilities Using Unobservable Inputs	During the years ended December 31, 2022 and 2021, there were no transfers of assets or liabilities between Level 1 and Level 2. December 31, 2022 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ 4,924,471 $ — $ 4,924,471 $ — Options purchased — — — — Total assets 4,924,471 — 4,924,471 — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ 4,924,471 $ — $ 4,924,471 $ — December 31, 2021 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets Investments in U.S. government securities, at fair value $ — $ — $ — $ — Options purchased — — — — Total assets — — — — Liabilities Written options $ — $ — $ — $ — Total liabilities — — — — Net fair value $ — $ — $ — $ —

Trading Activities (Tables)

Trading Activities (Tables)	12 Months Ended
Trading Activities (Tables)	Dec. 31, 2022
Brokers And Dealers [Abstract]
Summary of Valuation of Partnership's Investments in Derivative Instruments	The following tables summarize the valuation of the Partnership’s investments in derivative instruments as of December 31, 2022 and 2021: Gross Amounts not Offset in the Statements of Financial Condition December 31, 2022 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial condition Amounts Presented in the Statements of Financial condition Financial Instruments Cash Collateral Net Amount Assets Options purchased $ — $ — $ — $ — $ — $ — Total assets — — — — — — Liabilities Written options $ — $ — $ — $ — $ — $ — Total liabilities — — — — — — Net fair value $ — Gross Amounts not Offset in the Statements of Financial Condition December 31, 2021 Gross Amounts Recognized Gross Amounts Offset in the Statements of Financial condition Amounts Presented in the Statements of Financial condition Financial Instruments Cash Collateral Net Amount Assets Options purchased $ — $ — $ — $ — $ — $ — Total assets — — — — — — Liabilities Written options $ — $ — $ — $ — $ — $ — Total liabilities — — — — — — Net fair value $ —
Gross Fair Values of Derivative Instruments of Option Contracts as Separate Assets and Liabilities	The following table indicates the gross fair values of derivative instruments of option contracts as separate assets and liabilities as of December 31, 2022 and 2021: 2022 2021 Assets Options Purchased Indices $ — $ — Total options purchased $ — $ — * * This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition. 2022 2021 Liabilities Written Options Indices $ — $ — Total written options $ — $ — ** This amount is included in “Written options, at fair value” on the Statements of Financial Condition.
Trading Gains and Losses, by Market Sector, on Derivative Instruments	The following table indicates the trading gains and losses, by market sector, on derivative instruments for the years ended December 31, 2022, 2021 and 2020: Sector - Indices 2022 2021 2020 Net realized gains (losses) on closed contracts $ 1,254,304 $ 1,822,707 $ 1,445,017 Change in net unrealized gains (losses) on open contracts - 2,089 12,760 Total trading results $ 1,254,304 * $ 1,824,796 * $ 1,457,777 * * This amount is included in “Total trading results” on the Statements of Income and Expenses.
Summary of Transactions in Options Written	The following table rolls forward the transactions in Options Written for the year ended December 31, 2022: Calls Puts Notional (000) Notional (000) Contracts USD Premiums Received Contracts USD Premiums Received Outstanding options, beginning of year — $ — $ — — $ — $ — Options written 5,666 1,285,673 69,164 76,396 14,424,821 5,056,050 Options exercised (60 ) (12,870 ) (18,000 ) Options expired (5,666 ) (1,285,673 ) (69,164 ) (61,348 ) (11,404,043 ) (3,519,240 ) Options closed (14,988 ) (3,007,908 ) (1,518,810 ) Outstanding options, end of period - $ - $ - - $ - $ -

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
Financial Highlights (Tables)	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Financial Highlights for Each Class	Changes in the net asset value per Unit for the years ended December 31, 2022, 2021 and 2020 were as follows: 2022 2022 2021 2021 2020 2020 Class A Class D Class A Class D Class A Class D Net realized and unrealized gains (losses) $ 105.45 $ 118.18 $ 130.07 $ 144.86 $ 68.07 $ 74.94 Interest Income 5.40 6.07 - - 3.23 3.53 Expenses and allocation to Special Limited Partner (105.63 ) (107.75 ) (101.40 ) (98.57 ) (91.82 ) (83.91 ) Increase (decrease) for the period 5.22 16.50 28.67 46.29 (20.52 ) (5.44 ) Net asset value per unit, beginning of period 1,283.35 1,434.70 1,254.68 1,388.41 1,275.20 1,393.85 Net asset value per unit, end of period $ 1,288.57 $ 1,451.20 $ 1,283.35 $ 1,434.70 $ 1,254.68 $ 1,388.41
Summary of Ratios to Average Net Assets	2022 2022 2021 2021 2020 2020 Class A Class D Class A Class D Class A Class D Ratios to Average Net Assets: Net investment income (loss) (7.8 )% (6.5 )% (8.1 )% (6.8 )% (7.1 )% (5.9 )% Allocation to Special Limited Partner — % (0.5 )% — % (0.2 )% — % — % Net investment income (loss) after allocation to Special Limited Partner (7.8 )% (7.0 )% (8.1 )% (7.0 )% (7.1 )% (5.9 )% Operating expenses 8.2 % 7.0 % 8.1 % 6.8 % 7.4 % 6.1 % Allocation to Special Limited Partner — % 0.5 % — % 0.2 % — % — % Total expenses 8.2 % 7.5 % 8.1 % 7.0 % 7.4 % 6.1 % Total return: Total return before allocation to Special Limited Partner 0.4 % 1.7 % 2.3 % 3.5 % (1.6 )% (0.4 )% Allocation to Special Limited Partner — % (0.5 )% — % (0.2 )% — % — % Total return after allocation to Special Limited Partner 0.4 % 1.2 % 2.3 % 3.3 % (1.6 )% (0.4 )% ** Interest income less total expenses (exclusive of allocation to Special Limited Partner, if applicable).

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Table)	12 Months Ended
Selected Quarterly Financial Data (Unaudited) (Table)	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Unaudited Quarterly Financial Data	Selected unaudited quarterly financial data for the years ended December 31, 2022 and 2021 are summarized below: For the period from October 1, 2022 to December 31, 2022 For the period from July 1, 2022 to September 30, 2022 For the period from April 1, 2022 to June 30, 2022 For the period from January 1, 2022 to March 31, 2022 Net realized and unrealized trading gains (losses) net of ongoing selling agent fees and clearing fees including interest income $ 101,611 $ 79,460 $ 422,650 $ 246,098 Net income (loss) before allocation to Special Limited Partner $ (85,727 ) $ (110,710 ) $ 231,591 $ 54,592 Net income (loss) after allocation to Special Limited Partner $ (85,727 ) $ (110,710 ) $ 230,102 $ 54,074 Increase (decrease) in net asset value per unit Class A $ (7.84 ) $ (9.91 ) $ 18.91 $ 4.06 Increase (decrease) in net asset value per unit Class D $ (4.42 ) $ (6.69 ) $ 20.48 $ 7.13 For the period from October 1, 2021 to December 31, 2021 For the period from July 1, 2021 to September 30, 2021 For the period from April 1, 2021 to June 30, 2021 For the period from January 1, 2021 to March 31, 2021 Net realized and unrealized trading gains (losses) net of ongoing selling agent fees and clearing fees including interest income $ 438,516 $ 196,195 $ 141,633 $ 426,063 Net income (loss) before allocation to Special Limited Partner $ 246,391 $ (6,084 ) $ (67,159 ) $ 201,959 Net income (loss) after allocation to Special Limited Partner $ 245,575 $ (6,084 ) $ (67,159 ) $ 201,959 Increase (decrease) in net asset value per unit Class A $ 19.28 $ 1.53 $ (4.79 ) $ 12.65 Increase (decrease) in net asset value per unit Class D $ 23.07 $ 6.01 $ (1.04 ) $ 18.25

Partnership Organization - Addi

Partnership Organization - Additional Information (Detail) - USD ($)		12 Months Ended
	Mar. 31, 2015	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Incentive fee	20%	20%
Net asset value		$ 14,510,429	$ 15,988,475
Minimum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Decrease in net asset value per Redeemable Unit		$ 400
Net asset value		$ 1,000,000
Partnership liquidation date		Dec. 31, 2025

Accounting Policies - Additiona

Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounting Policy [Line Items]
Transfers of assets between Level 1 and Level 2	$ 0	$ 0
Transfers of liabilities between Level 1 and Level 2	0	0
Provision for income tax	0
US Treasury Bills
Accounting Policy [Line Items]
Fair value of T-Bills	$ 0	$ 0
Latest Tax Year [Member]
Accounting Policy [Line Items]
Tax years remain subject to examination	2022
Earliest Tax Year [Member]
Accounting Policy [Line Items]
Tax years remain subject to examination	2018

Accounting Policies - Derivativ

Accounting Policies - Derivative Fair Value of Assets and Liabilities Using Unobservable Inputs (Detail)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 4,924,471
Net fair value	4,924,471
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	4,924,471
Net fair value	4,924,471
U.S. Government Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	4,924,471
U.S. Government Securities [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 4,924,471

Agreements - Additional Informa

Agreements - Additional Information (Detail) - USD ($)		12 Months Ended
Agreements - Additional Information (Detail) - USD ($)	Mar. 31, 2015	Dec. 31, 2022	Dec. 31, 2021
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Monthly advisory fees		0.167%
Advisory fees per year		2%
Incentive fee	20%	20%
Limited Partnership [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Management fees on assets		1%
Management fees paid		1%
Administrative fees paid		0.08333%
Customer Agreement [Member] \| Wedbush [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Cash held for margin		$ 0	$ 0
Customer Agreement [Member] \| ADM [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Cash held for margin		$ 0	$ 0
Customer Agreement [Member] \| Robert W- Baird And Company [Member] \| Class A [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of maintenance fee		0.1667%
Maintenance fees per year		2%
Customer Agreement [Member] \| Robert W- Baird And Company [Member] \| Class D [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of maintenance fee		0.0625%
Maintenance fees per year		0.75%
Continuing Services Agreement [Member] \| Morgan Stanley Wealth Management [Member] \| Class A [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.1667%
Ongoing selling agent fees per year		2%
Continuing Services Agreement [Member] \| Morgan Stanley Wealth Management [Member] \| Class D [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.0625%
Ongoing selling agent fees per year		0.75%
Continuing Services Agreement [Member] \| Credit Suisse Securities (USA) LLC [Member] \| Class A [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.1667%
Ongoing selling agent fees per year		2%
Continuing Services Agreement [Member] \| Credit Suisse Securities (USA) LLC [Member] \| Class D [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.0625%
Ongoing selling agent fees per year		0.75%
Selling Agreement [Member] \| Robert W- Baird And Company [Member] \| Class A [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.1667%
Ongoing selling agent fees per year		2%
Selling Agreement [Member] \| Robert W- Baird And Company [Member] \| Class D [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percentage of ongoing selling agent fees		0.0625%
Ongoing selling agent fees per year		0.75%

Trading Activities - Additional

Trading Activities - Additional Information (Detail)	12 Months Ended
Trading Activities - Additional Information (Detail)	Dec. 31, 2022 USD ($) Contract	Dec. 31, 2021 USD ($) Contract	Dec. 31, 2020 USD ($)
Trading Activity Gains And Losses [Line Items]
Monthly average number of option contracts held \| Contract	1,512	577
Net trading loss \| $	$ (1,254,304)	$ (1,824,796)	$ (1,457,777)
Number of futures contracts \| Contract	70
Futures Contracts [Member]
Trading Activity Gains And Losses [Line Items]
Net trading loss \| $	$ 6,740

Trading Activities - Summary of

Trading Activities - Summary of Valuation of Partnership's Investments in Derivative Instruments (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Gross Amounts Recognized, Assets	$ 0	$ 0
Gross Amounts Offset in the Statement of Financial Condition, Assets	0	0
Amounts Presented in the Statement of Financial Condition, Assets	0	0
Financial Instruments, Assets	0	0
Cash Collateral, Assets	0	0
Net Amount, Assets	0	0
Gross Amounts Recognized, Liabilities	0	0
Gross Amounts Offset in the Statement of Financial Condition, Liabilities	0	0
Amounts Presented in the Statement of Financial Condition, Liabilities	0	0
Financial Instruments, Liabilities	0	0
Cash Collateral, Liabilities	0	0
Net Amount, Liabilities	0	0
Net fair value	0	0
Options Purchased [Member]
Derivative [Line Items]
Gross Amounts Recognized, Assets	0	0
Gross Amounts Offset in the Statement of Financial Condition, Assets	0	0
Amounts Presented in the Statement of Financial Condition, Assets	0	0
Financial Instruments, Assets	0	0
Cash Collateral, Assets	0	0
Net Amount, Assets	0	0
Written Options [Member]
Derivative [Line Items]
Gross Amounts Recognized, Liabilities	0	0
Gross Amounts Offset in the Statement of Financial Condition, Liabilities	0	0
Amounts Presented in the Statement of Financial Condition, Liabilities	0	0
Financial Instruments, Liabilities	0	0
Cash Collateral, Liabilities	0	0
Net Amount, Liabilities	$ 0	$ 0

Trading Activities - Gross Fair

Trading Activities - Gross Fair Values of Derivative Instruments of Option Contracts as Separate Assets and Liabilities (Detail) - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Options Purchased Indices [Member]
Assets
Total options purchased		$ 0	$ 0
Options Purchased [Member]
Assets
Total options purchased		0	0	[1]
Written Options Indices [Member]
Liabilities
Total written options		0	0
Written Options [Member]
Liabilities
Total written options	[2]	$ 0	$ 0

[1]This amount is included in “Options purchased, at fair value” on the Statements of Financial Condition.[2]This amount is included in “Written options, at fair value” on the Statements of Financial Condition.

Trading Activities - Trading Ga

Trading Activities - Trading Gains and Losses, by Market Sector, on Derivative Instruments (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary Of Investment Holdings [Line Items]
Net realized gains (losses) on closed contracts		$ 1,254,304	$ 1,822,707	$ 1,445,017
Change in net unrealized gains (losses) on open contracts			2,089	12,760
Total trading results		1,254,304	1,824,796	1,457,777
Indices [Member]
Summary Of Investment Holdings [Line Items]
Net realized gains (losses) on closed contracts		1,254,304	1,822,707	1,445,017
Change in net unrealized gains (losses) on open contracts			2,089	12,760
Total trading results	[1]	$ 1,254,304	$ 1,824,796	$ 1,457,777

[1]This amount is included in “Total trading results” on the Statements of Income and Expenses.

Trading Activities - Summary _2

Trading Activities - Summary of Transactions in Options Written (Detail)	12 Months Ended
	Dec. 31, 2022 USD ($) Contract
Summary Of Investment Holdings [Line Items]
Outstanding options, Premiums Received, beginning of year	$ 0
Outstanding options, Premiums Received, end of period	$ 0
Calls [Member]
Summary Of Investment Holdings [Line Items]
Options written, Contracts \| Contract	5,666
Options expired, Contracts \| Contract	(5,666)
Options written, Notional	$ 1,285,673,000
Options expired, Notional	(1,285,673,000)
Options written, Premiums Received	69,164
Options expired, Premiums Received	$ (69,164)
Puts [Member]
Summary Of Investment Holdings [Line Items]
Options written, Contracts \| Contract	76,396
Options exercised, Contracts \| Contract	(60)
Options expired, Contracts \| Contract	(61,348)
Options closed, Contracts \| Contract	(14,988)
Options written, Notional	$ 14,424,821,000
Options exercised, Notional	(12,870,000)
Options expired, Notional	(11,404,043,000)
Options closed, Notional	(3,007,908,000)
Options written, Premiums Received	5,056,050
Options exercised, Premiums Received	(18,000)
Options expired, Premiums Received	(3,519,240)
Options closed, Premiums Received	$ (1,518,810)

Subscriptions, Distributions _2

Subscriptions, Distributions and Redemptions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 USD ($)
Equity [Abstract]
Redemptions fee charged to limited partners	$ 0
Period of notice to redeem limited Partnership	3 days

Financial Highlights - Schedule

Financial Highlights - Schedule of Financial Highlights for Each Class (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A [Member]
Class of Stock [Line Items]
Net realized and unrealized gains (losses)	$ 105.45	$ 130.07	$ 68.07
Interest Income	5.40		3.23
Expenses and allocation to Special Limited Partner	(105.63)	(101.40)	(91.82)
Increase (decrease) for the period	5.22	28.67	(20.52)
Net asset value per unit, beginning of period	1,283.35	1,254.68	1,275.20
Net asset value per unit, end of period	1,288.57	1,283.35	1,254.68
Class D [Member]
Class of Stock [Line Items]
Net realized and unrealized gains (losses)	118.18	144.86	74.94
Interest Income	6.07		3.53
Expenses and allocation to Special Limited Partner	(107.75)	(98.57)	(83.91)
Increase (decrease) for the period	16.50	46.29	(5.44)
Net asset value per unit, beginning of period	1,434.70	1,388.41	1,393.85
Net asset value per unit, end of period	$ 1,451.20	$ 1,434.70	$ 1,388.41

Financial Highlights - Summary

Financial Highlights - Summary of Ratios to Average Net Assets (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A [Member]
Ratios to Average Net Assets:
Ratios to Average Net Assets, Net investment income (loss)	(7.80%)	(8.10%)	(7.10%)
Ratios to Average Net Assets, Net investment income (loss), Allocation to Special Limited Partner	0%	0%	0%
Ratios to Average Net Assets, Net investment income (loss) after allocation to Special Limited Partner	(7.80%)	(8.10%)	(7.10%)
Ratios to Average Net Assets, Operating expenses	8.20%	8.10%	7.40%
Ratios to Average Net Assets, Operating expenses, Allocation to Special Limited Partner	0%	0%	0%
Ratios to Average Net Assets, Total expenses	8.20%	8.10%	7.40%
Total return:
Total return before allocation to Special Limited Partner	0.40%	2.30%	(1.60%)
Total return, Allocation to Special Limited Partner	0%	0%	0%
Total return after allocation to Special Limited Partner	0.40%	2.30%	(1.60%)
Class D [Member]
Ratios to Average Net Assets:
Ratios to Average Net Assets, Net investment income (loss)	(6.50%)	(6.80%)	(5.90%)
Ratios to Average Net Assets, Net investment income (loss), Allocation to Special Limited Partner	(0.50%)	(0.20%)	0%
Ratios to Average Net Assets, Net investment income (loss) after allocation to Special Limited Partner	(7.00%)	(7.00%)	(5.90%)
Ratios to Average Net Assets, Operating expenses	7%	6.80%	6.10%
Ratios to Average Net Assets, Operating expenses, Allocation to Special Limited Partner	0.50%	0.20%	0%
Ratios to Average Net Assets, Total expenses	7.50%	7%	6.10%
Total return:
Total return before allocation to Special Limited Partner	1.70%	3.50%	(0.40%)
Total return, Allocation to Special Limited Partner	(0.50%)	(0.20%)	0%
Total return after allocation to Special Limited Partner	1.20%	3.30%	(0.40%)

Financial Instrument Risks - Ad

Financial Instrument Risks - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Maximum maturity period of financial instruments	1 year

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) - Schedule of Selected Unaudited Quarterly Financial Data (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capital Unit [Line Items]
Net realized and unrealized trading gains (losses) net of ongoing selling agent fees and clearing fees including interest income	$ 101,611	$ 79,460	$ 422,650	$ 246,098	$ 438,516	$ 196,195	$ 141,633	$ 426,063
Net income (loss) before allocation to Special Limited Partner	(85,727)	(110,710)	231,591	54,592	246,391	(6,084)	(67,159)	201,959
Net income (loss) after allocation to Special Limited Partner	$ (85,727)	$ (110,710)	$ 230,102	$ 54,074	$ 245,575	$ (6,084)	$ (67,159)	$ 201,959	$ 87,739	$ 374,291	$ (507,960)
Class A Unit [Member]
Capital Unit [Line Items]
Increase (decrease) in net asset value per unit	$ (7.84)	$ (9.91)	$ 18.91	$ 4.06	$ 19.28	$ 1.53	$ (4.79)	$ 12.65
Class D Unit [Member]
Capital Unit [Line Items]
Increase (decrease) in net asset value per unit	$ (4.42)	$ (6.69)	$ 20.48	$ 7.13	$ 23.07	$ 6.01	$ (1.04)	$ 18.25