Hatteras Master Fund LP
|
|
Schedule of Investments
|
||||
December 31, 2020 (Unaudited)
|
||||||
Investments in Adviser Funds — (102.12%)
|
Shares
|
Cost
|
Fair Value
|
|||
Event Driven - (4.86%)
|
||||||
Harbinger Capital Partners Fund I, L.P. (Acquired 10/1/2007)(a)(b)(c)(d)
|
11,188,445
|
314,891
|
||||
Harbinger Credit Distressed Blue Line Fund, L.P. (Acquired 4/1/2010)(a)(b)(c)(e)
|
12,326,927
|
3,200,613
|
||||
King Street Capital, L.P. (Acquired 12/1/2017)(a)(b)(c)(e)
|
746,472
|
729,903
|
||||
Perry Partners, L.P. (Acquired 10/1/2007)(a)(b)(c)
|
2,692
|
2,952
|
||||
SGOF Liquidating Master LTD.(a)(b)(c)(d)
|
415,758
|
410,636
|
||||
Sculptor Asia Domestic Partners, L.P. (Acquired 1/1/2006)(a)(b)(c)(d)
|
11,602
|
3,271
|
||||
Third Point Partners Qualified, L.P. (Acquired 8/1/2017)(a)(b)(c)(e)
|
7,952,500
|
10,559,666
|
||||
Total Event Driven
|
32,644,396
|
15,221,932
|
||||
Long Short Equity — (0.99%)
|
||||||
Camcap Resources, L.P. (Acquired 6/1/2007)(a)(b)(c)
|
487,559
|
17,723
|
||||
PIPE Equity Partners (Acquired 10/1/2004)(a)(b)(c)
|
3,845,244
|
49,200
|
||||
PIPE Select Fund, LLC (Acquired 10/1/2004)(a)(b)(c)
|
3,218,604
|
2,280,501
|
||||
The Raptor Private Holdings, L.P. (Acquired 11/1/2005)(a)(b)(c)
|
155,648
|
28,092
|
||||
Valiant Capital Partners, L.P. (Acquired 9/1/2008)(a)(b)(c)(e)
|
354,270
|
716,379
|
||||
Total Long Short Equity
|
8,061,325
|
3,091,895
|
||||
Macro — (4.13%)
|
||||||
Aspect US Fund LLC - Diversified Class (Acquired 10/10/2017)(a)(b)(e)
|
5,939,110
|
6,189,933
|
||||
Graham Absolute Return Trading Ltd. (Acquired 12/1/2017)(a)(b)(e)
|
6,507,862
|
6,669,725
|
||||
Touradji Private Equity Onshore Fund, LTD. (Acquired 3/1/2009)(a)(b)(c)(d)
|
1,773,871
|
98,980
|
||||
Total Macro
|
14,220,843
|
12,958,638
|
||||
Relative Value — (4.65%)
|
||||||
BDCM Partners I, L.P. (Acquired 2/1/2012)(a)(b)(c)
|
6,490,138
|
6,656,042
|
||||
D.E. Shaw Composite Fund, LLC (Acquired 4/1/2006) (a)(b)(c)
|
124,998
|
114,880
|
||||
Drawbridge Special Opportunities Fund, L.P. (Acquired 4/1/2006)(a)(b)(c)
|
154,567
|
176,292
|
||||
HBK Multi-Strategy Fund, L.P. (Acquired 7/1/2017)(a)(b)(c)(e)
|
6,612,983
|
7,606,711
|
||||
Stark Investments, L.P. (Acquired 11/1/2010)(a)(b)(c)
|
50,084
|
17,171
|
||||
Stark Select Asset Fund, LLC (Acquired 2/1/2010)(a)(b)(c)
|
19,907
|
19,592
|
||||
Total Relative Value
|
13,452,677
|
14,590,688
|
||||
Private Investments — (87.48%)
|
||||||
ABRY Advanced Securities Fund III, L.P. (Acquired 6/1/2014)(a)(b)(d)
|
3,223,742
|
2,546,846
|
||||
ABRY Advanced Securities Fund, L.P. (Acquired 8/1/2008)(a)(b)(d)
|
256,690
|
101,643
|
||||
ABRY Partners VI, L.P. (Acquired 3/3/2008)(a)(b)
|
1,447,267
|
143,480
|
||||
ABRY Partners VII, L.P. (Acquired 11/8/2011)(a)(b)
|
1,856,633
|
1,256,364
|
||||
ABRY Partners VIII, L.P. (Acquired 5/1/2015)(b)(d)
|
1,780,973
|
1,870,594
|
||||
Accel-KKR Capital Partners III, L.P. (Acquired 9/30/2008)(a)(b)
|
-
|
30,279
|
||||
Accel-KKR Capital Partners IV, L.P. (Acquired 7/1/2013)(b)
|
1,722,172
|
2,815,620
|
||||
Angeles Equity Partners I, L.P. (Acquired 1/11/2016)(b)
|
884,276
|
1,010,167
|
||||
Arclight Energy Partners Fund V, L.P. (Acquired 7/1/2006)(a)(b)
|
2,904,135
|
1,856,206
|
||||
Ascendent Capital Partners I, L.P. (Acquired 7/1/2012)(b)(d)
|
1,202,321
|
1,611,581
|
||||
BDCM Opportunity Fund II, L.P. (Acquired 3/1/2006)(b)
|
1,986,509
|
5,128,691
|
||||
Benson Elliot Real Estate Partners II, L.P. (Acquired 6/1/2006)(a)(b)(g)
|
2,644,874
|
100,569
|
||||
Cadent Energy Partners II, L.P. (Acquired 2/1/2008)(b)
|
4,788,366
|
6,704,829
|
||||
Canaan Natural Gas Fund X, L.P. (Acquired 8/7/2008)(a)(b)
|
6,152,301
|
-
|
||||
CDH Fund IV, L.P. (Acquired 7/13/2010)(b)(d)
|
1,035,991
|
2,111,788
|
||||
China Special Opportunities Fund III, L.P. (Acquired 1/18/2011)(b)(d)
|
4,034,746
|
5,052,004
|
||||
Claremont Creek Ventures II, L.P. (Acquired 11/22/2008)(a)(b)
|
2,946,392
|
1,371,570
|
||||
Claremont Creek Ventures, L.P. (Acquired 12/1/2005)(a)(b)
|
1,476,005
|
9,329
|
||||
Colony Investors VII, L.P. (Acquired 3/1/2006)(a)(b)
|
2,221,355
|
31,012
|
||||
Colony Investors VIII, L.P. (Acquired 10/12/2006)(b)
|
6,143,940
|
133,402
|
||||
Crosslink Crossover Fund V, L.P. (Acquired 3/1/2007)(a)(b)
|
234,054
|
342,583
|
||||
Crosslink Crossover Fund VI, L.P. (Acquired 5/31/2011)(a)(b)
|
2,294,132
|
6,781,162
|
||||
CX Partners Fund LTD. (Acquired 4/1/2009)(b)(d)
|
2,286,818
|
2,076,606
|
||||
Dace Ventures I, L.P. (Acquired 6/1/2007)(a)(b)
|
2,286,219
|
854,266
|
||||
Darwin Private Equity I, L.P. (Acquired 8/1/2007)(b)(g)
|
4,723,624
|
495,627
|
||||
ECP IHS (Mauritius) Limited (Acquired 9/1/2014)(a)(b)(f)
|
7,419,169
|
11,357,682
|
||||
EMG AE Permian Co-Investment, L.P. (Acquired 7/1/2014)(a)(b)
|
3,000,000
|
-
|
||||
EMG Ascent 2016, L.P. (Acquired 12/28/2015)(a)(b)
|
4,203,815
|
5,191,576
|
||||
EMG Ascent Secondary Fund, L.P. (Acquired 9/7/2017)(a)(b)
|
116,829
|
173,163
|
||||
EMG Investment, LLC (Acquired 12/21/2010)(b)
|
-
|
-
|
||||
EnerVest Energy Institutional Fund X-A, L.P. (Acquired 6/1/2005)(a)(b)
|
2,155,939
|
5,475
|
||||
EnerVest Energy Institutional Fund XI-A, L.P. (Acquired 4/1/2007)(a)(b)
|
6,143,719
|
26,487
|
||||
Fairhaven Capital Partners, L.P. (Acquired 3/1/2008)(a)(b)
|
4,571,226
|
1,616,325
|
||||
Florida Real Estate Value Fund, L.P. (Acquired 11/12/2010)(b)
|
-
|
25,932
|
||||
Forum European Realty Income III, L.P. (Acquired 2/1/2008)(b)(d)
|
1,945,475
|
213,811
|
||||
Garrison Opportunity Fund, LLC (Acquired 1/12/2010)(a)(b)
|
-
|
161,692
|
||||
Garrison Opportunity Fund II A, LLC (Acquired 3/8/2011)(a)(b)
|
-
|
1,020,424
|
||||
Gavea Investment Fund II, L.P. (Acquired 5/1/2007)(a)(b)(d)
|
-
|
17,041
|
||||
Gavea Investment Fund III, L.P. (Acquired 9/18/2008)(a)(b)(d)
|
-
|
108,649
|
||||
Glade Brook Private Investors II L.P. (Acquired 1/27/2014)(a)(b)
|
3,905,752
|
52
|
||||
Glade Brook Private Investors III LLC (Acquired 11/1/2014)(a)(b)
|
3,198,543
|
2,627,087
|
||||
Glade Brook Private Opportunities Fund, LLC (Acquired 5/1/2015)(a)(b)
|
659,486
|
247,414
|
||||
Glade Brook Private Investors X LLC (Acquired 11/08/2017)(a)(b)
|
-
|
-
|
||||
Great Point Partners I, L.P. (Acquired 4/1/2006)(a)(b)
|
985,634
|
155,389
|
||||
Greenfield Acquisition Partners V,L.P. (Acquired 4/1/2008)(b)
|
2,331,247
|
53,135
|
||||
GTIS Brazil Real Estate Fund, L.P. (Acquired 7/25/2008)(b)
|
6,119,220
|
3,894,863
|
||||
Halifax Capital Partners II, L.P. (Acquired 8/1/2012)(b)
|
1,690
|
47,500
|
||||
Halifax Capital Partners III, L.P. (Acquired 8/1/2012)(b)
|
3,247,780
|
2,359,750
|
||||
Hancock Park Capital III, L.P. (Acquired 3/1/2006)(a)(b)
|
808,899
|
175,363
|
||||
Intervale Capital Fund, L.P. (Acquired 2/1/2008)(a)(b)
|
2,426,648
|
2,645,235
|
||||
J.C. Flowers II, L.P. (Acquired 12/23/2015)(b)(d)
|
-
|
-
|
||||
J.C. Flowers III, L.P. (Acquired 10/1/2009)(b)(d)
|
3,413,082
|
741,167
|
||||
L C Fund V, L.P. (Acquired 7/1/2011)(b)(d)
|
2,935,495
|
3,120,577
|
||||
Light Street Argon, L.P. (Acquired 5/1/2014)(a)(b)
|
757,340
|
1,122,229
|
||||
Light Street SPVH, L.P. (Acquired 8/25/2015)(a)(b)
|
2,000,000
|
2,741,646
|
||||
Lighthouse Capital Partners VI, L.P. (Acquired 2/1/2007)(a)(b)
|
219,968
|
74,589
|
||||
Lyfe Capital Fund, L.P. (Acquired 11/6/2015)(b)(d)
|
2,222,441
|
6,687,595
|
||||
Merit Energy Partners F-II, L.P. (Acquired 3/1/2006)(a)(b)
|
1,073,416
|
230,058
|
||||
Mid Europa Fund III, L.P. (Acquired 10/1/2007)(b)(h)
|
3,394,507
|
93,381
|
||||
Monomoy Capital Partners III, L.P. (Acquired 5/6/2011)(b)
|
1,636,655
|
2,362,567
|
||||
Natural Gas Partners IX, L.P. (Acquired 12/1/2005)(b)
|
564,297
|
286,136
|
||||
New Horizon Capital III, L.P. (Acquired 1/1/2009)(b)(d)
|
938,450
|
2,144,054
|
||||
NGP Energy Technology Partners II, L.P. (Acquired 1/23/2009)(b)
|
3,383,433
|
1,190,684
|
||||
NGP Midstream & Resources Follow-On Fund, L.P. (Acquired 10/7/2007)(b)
|
649,307
|
894,500
|
||||
NGP Midstream & Resources, L.P. (Acquired 10/7/2007)(b)
|
2,507,471
|
286,785
|
||||
Northstar Equity Partners III Limited (Acquired 6/1/2011)(b)(d)
|
3,315,837
|
2,422,378
|
||||
OCM Mezzanine Fund II, L.P. (Acquired 3/1/2006)(b)
|
382,661
|
-
|
||||
Octave Japan Infrastructure Fund I (Acquired 7/1/2014)(a)(b)(i)
|
1,304,398
|
1,260,603
|
||||
ORBIS Real Estate Fund I, L.P. (Acquired 11/1/2006)(a)(b)(f)
|
2,288,670
|
465,404
|
||||
Orchid Asia IV, L.P. (Acquired 8/1/2007)(b)(d)
|
2,523,435
|
23,038,432
|
||||
Patron Capital III, L.P. (Acquired 3/1/2007)(b)(g)
|
3,718,296
|
270,082
|
||||
Phoenix Asia Real Estate Investments L.P. (Acquired 9/24/2007)(a)(b)(d)
|
2,235,211
|
1,872,301
|
||||
Pine Brook Capital Partners, L.P. (Acquired 2/1/2008)(b)
|
4,596,155
|
445,635
|
||||
Private Equity Investment Fund IV, L.P. (Acquired 3/1/2006)(a)(b)
|
1,265,700
|
234,737
|
||||
Private Equity Investment Fund V, L.P (Acquired 4/1/2009)(a)(b)
|
12,442,343
|
6,553,612
|
||||
Rockwood Capital Real Estate Partners Fund VII, L.P. (Acquired 9/1/2006)(b)
|
2,913,547
|
58,797
|
||||
Roundtable Healthcare Partners II, L.P. (Acquired 10/29/2010)(a)(b)
|
-
|
1,107
|
||||
Roundtable Healthcare Partners III, L.P. (Acquired 10/29/2010)(a)(b)
|
4,618,141
|
7,317,806
|
||||
Saints Capital VI, L.P. (Acquired 4/1/2008)(b)
|
5,359,243
|
1,162,971
|
||||
Sanderling Venture Partners VI Co-Investment L.P. (Acquired 5/1/2005)(a)(b)
|
525,136
|
395,892
|
||||
Sanderling Venture Partners VI, L.P. (Acquired 5/1/2005)(b)
|
735,999
|
867,296
|
||||
SBC U.S. Fund II, L.P. (Acquired 8/30/2011)(a)(b)
|
2,377,306
|
1,136,408
|
||||
Sentient Global Fund IV, L.P. (Acquired 6/1/2011)(a)(b)
|
5,536,592
|
2,230,230
|
||||
Sentient Global Resources Fund III, L.P. (Acquired 7/21/2008)(b)(d)
|
11,966,779
|
3,331,552
|
||||
Singerman Real Estate Opportunity Fund, L.P. (Acquired 5/28/2012)(b)
|
1,019,675
|
734,688
|
||||
Sovereign Capital L.P. III (Acquired 3/22/2010)(b)(g)
|
-
|
1,176,966
|
||||
Square Mile Partners III, L.P. (Acquired 7/17/2008)(a)(b)
|
1,791,262
|
32,974
|
||||
Sterling Capital Partners Venture Fund II, L.P. (Acquired 8/1/2005)(a)(b)
|
1,359,210
|
127,604
|
||||
Sterling Group Partners III, L.P. (Acquired 4/21/2010)(a)(b)
|
3,047,086
|
420,069
|
||||
Strategic Value Global Opportunities Fund I-A, L.P. (Acquired 11/1/2006)(a)(b)
|
1,836,663
|
1,215,530
|
||||
Sweetwater Secondaries Fund II LP (Acquired 6/12/2018) (a)(b)(j)
|
8,797,500
|
20,593,730
|
||||
TDR Capital AS 2013 L.P. (Acquired 12/1/2013)(a)(b)(g)
|
6,184,080
|
24,175
|
||||
Tenaya Capital V, L.P. (Acquired 7/1/2007)(b)
|
2,370,489
|
1,389,911
|
||||
The Column Group, L.P. (Acquired 7/7/2007)(a)(b)
|
4,234,818
|
8,980,716
|
||||
The Energy & Minerals Group Fund II L.P. (Acquired 6/1/2011)(b)
|
4,040,468
|
4,474,620
|
||||
The Energy & Minerals Group Fund III L.P. (Acquired 10/8/2015)(b)
|
2,918,996
|
1,426,058
|
||||
The Energy & Minerals Group Fund IV L.P. (Acquired 10/8/2015)(b)
|
1,885,756
|
1,898,154
|
||||
The Founders Fund III,L.P. (Acquired 5/24/2010)(a)(b)
|
3,920,529
|
35,808,978
|
||||
The Founders Fund IV, L.P. (Acquired 1/1/2012)(a)(b)
|
1,446,761
|
21,360,228
|
||||
The Founders Fund VI, L.P. (Acquired 9/1/2017)(a)(b)
|
980,000
|
1,778,525
|
||||
Tiger Global Private Investments Partners X, L.P. (Acquired 12/31/2016)(b)(d)
|
2,005,944
|
4,132,270
|
||||
Tiger Global Private Investments Partners VI, L.P. (Acquired 11/8/2010)(b)(d)
|
2,216,261
|
3,938,709
|
||||
Tiger Global Private Investments Partners VII, L.P. (Acquired 2/24/2012)(b)(d)
|
1,685,545
|
1,264,138
|
||||
TPF II, L.P. (Acquired 10/1/2008)(a)(b)
|
1,814,310
|
200,200
|
||||
Trivest Fund IV, L.P. (Acquired 11/1/2007)(a)(b)
|
862,306
|
88,082
|
||||
Trivest Fund V, L.P. (Acquired 5/24/2013)(b)
|
2,321,747
|
2,473,796
|
||||
Trivest Growth Investment Fund (Acquired 1/17/2017)(b)
|
1,482,475
|
1,628,759
|
||||
Urban Oil and Gas Partners A-1, L.P. (Acquired 4/29/2010)(a)(b)
|
6,874,263
|
100,000
|
||||
Urban Oil and Gas Partners B-1, L.P. (Acquired 12/1/2012)(b)
|
2,257,157
|
1,800,000
|
||||
VCFA Private Equity Partners IV, L.P. (Acquired 3/1/2005)(b)
|
1,051,702
|
131,910
|
||||
VCFA Venture Partners V, L.P. (Acquired 9/1/2006)(b)
|
2,798,624
|
1,431,240
|
||||
Voyager Capital Fund III, L.P. (Acquired 5/1/2007)(a)(b)
|
1,652,835
|
812,604
|
||||
WCP Real Estate Fund I, L.P. (Acquired 4/1/2007)(a)(b)
|
742,933
|
77,700
|
||||
Westview Capital Partners II, L.P. (Acquired 8/21/2009)(a)(b)
|
1,875,422
|
1,713,308
|
||||
Zero2IPO China Fund II, L.P. (Acquired 8/8/2008)(a)(b)(d)
|
3,077,026
|
1,298,674
|
||||
Total Investments in Private Investments
|
286,139,127
|
274,302,476
|
||||
Total Investments in Adviser Funds
|
354,518,368
|
320,165,629
|
||||
Investments in Private Companies - (0.00%)
|
||||||
Illumitex, Inc., Common Stock (Acquired 6/1/2011)(a)(b)(j)
|
12,278
|
1,499,369
|
-
|
|||
Total Investments in Private Companies
|
1,499,369
|
-
|
||||
Investments in Private Company Call Options - (0.00%)
|
||||||
Illumitex, Inc., Exercise Price $0.03, 10/24/2022 (Acquired 6/1/2011)(a)(b)(j)
|
1,106
|
-
|
-
|
|||
Total Investments in Private Company Call Options
|
-
|
-
|
||||
Total Investments (cost $352,097,204) (102.12%)
|
320,165,629
|
|||||
Other Assets in Excess of Liabilities (-2.12%)
|
(6,643,989)
|
|||||
Partners’ Capital — (100.00%)
|
313,521,640
|
|||||
(a) Non-income producing.
|
||||||
(b) Adviser Funds and securities that are issued in private placement transactions may have limited resale or redemptions terms.
|
||||||
(c) The Adviser Fund has imposed gates on or has limited redemptions. The total cost and fair value of these investments as of
|
||||||
December 31, 2020 was $55,932,269 and $33,003,495, respectively.
|
||||||
(d) Domiciled in Cayman Islands.
|
||||||
(e) All or a portion of this position is held in custody by U.S Bank N.A., as collateral for a credit facility.
|
||||||
The total cost and fair value of these investments as of June 30, 2020 was $63,781,375 and $51,588,981, respectively.
|
||||||
(f) Domiciled in Mauritius.
|
||||||
(g) Domiciled in United Kingdom.
|
||||||
(h) Domiciled in Guernsey.
|
||||||
(i) Domiciled in Japan.
|
||||||
(j) Security value is determined using significant unobservable inputs.
|
Investments at Value
|
Level 1
|
Level 2
|
Level 3
|
Investments
Valued at NAV
|
Total
|
|||||||||||||||
Investments in Adviser Funds
|
||||||||||||||||||||
Event Driven
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
15,221,932
|
$
|
15,221,932
|
||||||||||
Long Short Equity
|
-
|
-
|
-
|
3,091,895
|
3,091,895
|
|||||||||||||||
Macro
|
-
|
-
|
-
|
12,958,638
|
12,958,638
|
|||||||||||||||
Relative Value
|
-
|
-
|
-
|
14,590,688
|
14,590,688
|
|||||||||||||||
Private Investments
|
-
|
-
|
20,593,730
|
253,708,746
|
274,302,476
|
|||||||||||||||
Investments in Private Companies
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Other Financial Instruments
|
||||||||||||||||||||
Private Companies Call Options
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Total
|
$
|
-
|
$
|
-
|
$
|
20,593,730
|
$
|
299,571,899
|
$
|
320,165,629
|
Level 3 Investments
|
Balances as of
March 31, 2020
|
Net Realized
Gain (Loss)
|
Change in
Unrealized
Appreciation/
(Depreciation)
|
Distributions
|
Gross Purchases
|
Gross Sales
|
Balance as of
December 31, 2020
|
|||||||||||||||||||||
Private Investments
|
$
|
21,536,120
|
$
|
-
|
$
|
(942,390
|
)
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
20,593,730
|
|||||||||||||
Private Companies
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Total Level 3 Investments
|
$
|
21,536,120
|
$
|
-
|
$
|
(942,390
|
)
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
20,593,730
|
Type of Level 3 Investment
|
Fair Value as of
June 30, 2020
|
Valuation Techniques
|
Unobservable Input
|
|||||
Preferred Stock
|
||||||||
Private Investments
|
$
|
20,593,730
|
Dilution estimate
|
Partner commitment percentage
|
||||
Private Companies
|
-
|
Current value method
|
Recent round of financing
|
|||||
Total Level 3 Investments
|
$
|
20,593,730
|
||||||