1. Organization and Summary of Significant Accounting Policies Description of the Fund Sage Fund Limited Partnership (?Fund?) is a Maryland limited partnership, which operated as a commodity investment pool. The Fund commenced operations on August 2, 1995 and ceased trading activity during March 2014. The Fund issued Class A units of limited partner interests (?Units?), which represent units of fractional undivided beneficial interest in and ownership of the Fund. The Fund returned all capital to its investors by April 30, 2014, and will dissolve as soon as practical after May 1, 2014. The Second Amended and Restated Limited Partnership Agreement (?Partnership Agreement?) provides that if the Fund?s net asset value per Unit declines to 50% or less of the highest net asset value per Unit at the start of any fiscal year, the Fund will suspend trading and liquidate its securities and commodity interest positions. On January 13, 2014, the estimated net asset value per Unit fell below the 50% threshold and trading was suspended on January 14, 2014. All positions were either liquidated or covered at that time. Limited partners were notified of the trading suspension and were given the opportunity to redeem from the fund. Because there remained only limited interest in continuing the investment, the General Partner decided to not resume trading, but to dissolve the partnership and return all capital to the remaining partners. Prior to the cessation of trading, the Fund used a commodity trading advisor to engage in the speculative trading of futures contracts and other financial instruments traded in the United States (?U.S.?) and internationally. The Fund is a registrant with the U.S. Securities and Exchange Commission (?SEC?) pursuant to the U.S. Securities Exchange Act of 1934, as amended (?1934 Act?). As a registrant, the Fund is subject to the regulations of the SEC and the disclosure requirements of the 1934 Act. As a commodity pool, the Fund is subject to the regulations of the U.S. Commodity Futures Trading Commi