Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

CMF Willowbridge Master Fund L.P. [Member]

Derivative Instrument Fair Value Based on Hierarchy

June 30, 2018	Total		Level 1		Level 2		Level 3
Assets
Futures	$	2,791,515	$	2,791,515	$	-	$	-
Forwards		4,375,555		-		4,375,555		-

Total assets	$	7,167,070	$	2,791,515	$	4,375,555	$	-

Liabilities
Futures	$	671,814	$	671,814	$	-	$	-
Forwards		5,123,605		-		5,123,605		-
Options written		2,226,430		2,226,430		-		-

Total liabilities	$	8,021,849	$	2,898,244	$	5,123,605	$	-


December 31, 2017 *	Total		Level 1		Level 2		Level 3
Assets
Futures	$	2,161,518	$	2,161,518	$	-	$	-
Forwards		7,165,669		-		7,165,669		-
Options purchased		109,340		109,340		-		-

Total assets	$	9,436,527	$	2,270,858	$	7,165,669	$	-

Liabilities
Futures	$	347,896	$	347,896	$	-	$	-
Forwards		11,018,218		-		11,018,218		-

Total liabilities	$	11,366,114	$	347,896	$	11,018,218	$	-

$3,825,033 of assets and $1,509,016 of liabilities were transferred from Level 1 to Level 2 during the year ended December 31, 2017. The General Partner believes that for London Metal Exchange (“LME”) forward contracts, the inputs are derived from an exchange and not actively quoted prices, which is more representative of a Level 2 security.

Ceres Tactical Macro L.P. 10-Q