0001145549-23-066941.txt : 20231114 0001145549-23-066941.hdr.sgml : 20231114 20231114144818 ACCESSION NUMBER: 0001145549-23-066941 CONFORMED SUBMISSION TYPE: NPORT-P/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20231114 DATE AS OF CHANGE: 20231114 PERIOD START: 20240331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hatteras Master Fund, L.P. CENTRAL INDEX KEY: 0001307689 IRS NUMBER: 201820123 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: NPORT-P/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-21666 FILM NUMBER: 231404631 BUSINESS ADDRESS: STREET 1: 8510 COLONNADE CENTER DRIVE STREET 2: SUITE 150 CITY: RALEIGH STATE: NC ZIP: 27615 BUSINESS PHONE: (919) 846-2324 MAIL ADDRESS: STREET 1: 8510 COLONNADE CENTER DRIVE STREET 2: SUITE 150 CITY: RALEIGH STATE: NC ZIP: 27615 NPORT-P/A 1 primary_doc.xml NPORT-P/A false 0001145549-23-055140 0001307689 XXXXXXXX Hatteras Master Fund, L.P. 811-21666 0001307689 549300DPUW2OGXYMY560 8510 Colonnade Center Drive Suite 150 Raleigh 27615 919-846-2324 Hatteras Master Fund, L.P. 549300DPUW2OGXYMY560 2024-03-31 2023-06-30 N 123898226.740000000000 2233606.060000000000 121664620.680000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 N US BANK MMDA - USBFS 2 N/A US BANK MMDA - USBFS 2 N/A 500426.46 NS USD 500426.46 0.4113163360 Long STIV RF US N 1 N N N Beneficient N/A Beneficient 08178Q101 41132079 NS USD 123396237 101.4232702246 Long EC CORP US Y 1 N N N 2023-11-14 Hatteras Master Fund, L.P. /s/ Brittney Chick-Reny Hatteras Master Fund, L.P. Secretary XXXX NPORT-EX 2 hatteras-master.htm SCHEDULE OF INVESTMENTS & NOTES

Hatteras Master Fund LP
Schedule of Investments
     
June 30, 2023 (Unaudited)
             
Investments in Common Stock — (101.42%)
  
Shares
Cost
Fair Value
   
Beneficient - Class A (a)
    
305,104,509
123,396,237
   
Total Investments in Common Stock
    
305,104,509
123,396,237
             
   
Total Investments — (101.42%)
    
305,104,509
123,396,237
   
Liabilities in Excess of Other Assets — (-1.42%)
      
               (1,731,616)
   
Partners’ Capital — (100.00%)
      
121,664,621
             
   
(a) Non-income producing asset.
        

Valuation of Investments

The Hatteras Master Fund, L.P. (the “Fund”) classifies its assets and liabilities that are reported at fair value, not valued using net asset value (“NAV”) as the practical expedient into three levels based on the lowest level of input that is significant to the fair value measurement. Estimated values may differ from the values that would have been used if a ready market existed or if the investments were liquidated at the valuation date.
 
The three-tier hierarchy distinguishes between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs may be used in determining the value of the Master Fund’s investments. The inputs are summarized in the three broad levels listed below:
 
Level 1 — quoted prices (unadjusted) in active markets for identical assets and liabilities.
 
Level 2 — Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly.
 
Level 3 — Inputs to the valuation methodology are unobservable and significant to the fair value measurement. This includes situations where there is little, if any, market activity for the asset or liability.

The following table presents the Fund’s fair value hierarchy for those assets and liabilities measured at fair value as of June 30, 2023.

Investments at Value
  
Level 1
    
Level 2
    
Level 3
    
Investments
Valued at NAV
    
Total
  
Investment Type
                              
Common Stock
  
$
123,396,237
    
$
-
          
$
-
    
$
123,396,237
  
Total Investments
  
$
123,396,237
    
$
-
    
$
-
    
$
-
    
$
123,396,237
  

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value on recurring basis:

Level 3 Investments
  
Balances as of
March 31, 2023
    
Transfers into/
(out of)
    
Net Realized Gain/(Loss)
    
Change in
Unrealized Appreciation/
(Depreciation)
    
Distributions
    
Gross
Purchases
    
Gross Sales
    
Balance as of
June 30, 2023
  
Private Preferred Equity
  
$
327,430,767
    
$
(327,430,767
)
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Total Level 3 Investments
  
$
327,430,767
    
$
(327,430,767
)
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  

Should a transfer between Levels occur, it is the Fund’s policy to recognize transfers in and out of all Levels at the beginning of reporting period.

The change in unrealized appreciation/depreciation from Level 3 investments held at June 30, 2023 is $0.