Schedule of Investments (unaudited) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
1 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
2 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
3 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
4 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
5 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
6 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
7 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
8 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
9 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
10 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
11 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
12 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
13 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
14 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
15 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
16 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
18 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
19 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
20 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
21 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
22 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
23 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
24 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
25 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio (Percentages shown are based on Net Assets) |
For Master Portfolio compliance purposes, the Master Portfolios industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
26 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio |
Affiliates
Investments in issuers considered to be affiliate(s) of the Master Portfolio during the period ended March 31, 2021 for purposes of
Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/20 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 03/31/21 |
Shares Held at 03/31/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 35,734,117 | $ | 4,046,173 | (a) | $ | | $ | (719 | ) | $ | (365 | ) | $ | 39,779,206 | 39,755,353 | $ | 38,770 | (b) | $ | | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
27,191,885 | 76,815,188 | (a) | | | | 104,007,073 | 104,007,073 | 2,416 | | ||||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (719 | ) | $ | (365 | ) | $ | 143,786,279 | $ | 41,186 | $ | | |||||||||||||||||||||||||
|
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|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
Long Contracts |
||||||||||||||||
MSCI Emerging Markets Index |
52 | 06/18/21 | $ | 3,439 | $ | (45,824 | ) | |||||||||
Russell 2000 E-Mini Index |
9 | 06/18/21 | 1,000 | (37,367 | ) | |||||||||||
S&P 500 E-Mini Index |
129 | 06/18/21 | 25,590 | 456,707 | ||||||||||||
|
|
|||||||||||||||
373,516 | ||||||||||||||||
|
|
|||||||||||||||
Short Contracts |
||||||||||||||||
MSCI EAFE Index |
363 | 06/18/21 | 39,785 | 132,976 | ||||||||||||
MSCI Emerging Markets Index |
397 | 06/18/21 | 26,252 | 467,803 | ||||||||||||
Russell 2000 E-Mini Index |
1,568 | 06/18/21 | 174,244 | 4,709,643 | ||||||||||||
|
|
|||||||||||||||
5,310,422 | ||||||||||||||||
|
|
|||||||||||||||
$ | 5,683,938 | |||||||||||||||
|
|
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||||
USD | 645,143 | CHF | 591,000 | Goldman Sachs International | 06/16/21 | $ | 18,636 | |||||||||||||
USD | 384,746 | EUR | 318,000 | Morgan Stanley & Co. International PLC | 06/16/21 | 11,269 | ||||||||||||||
USD | 551,083 | EUR | 462,000 | Morgan Stanley & Co. International PLC | 06/16/21 | 8,485 | ||||||||||||||
USD | 680,516 | JPY | 72,711,000 | Bank of America N.A. | 06/16/21 | 23,370 | ||||||||||||||
USD | 26,069 | NOK | 221,000 | Goldman Sachs International | 06/16/21 | 231 | ||||||||||||||
|
|
|||||||||||||||||||
61,991 | ||||||||||||||||||||
|
|
|||||||||||||||||||
AUD | 809,000 | USD | 631,525 | Bank of America N.A. | 06/16/21 | (16,860 | ) | |||||||||||||
EUR | 412,000 | USD | 489,471 | Barclays Bank PLC | 06/16/21 | (5,595 | ) | |||||||||||||
GBP | 540,000 | USD | 754,644 | Bank of America N.A. | 06/16/21 | (10,041 | ) | |||||||||||||
NZD | 118,000 | USD | 85,567 | Toronto-Dominion Bank | 06/16/21 | (3,169 | ) | |||||||||||||
SEK | 5,851,000 | USD | 695,818 | Bank of America N.A. | 06/16/21 | (25,428 | ) | |||||||||||||
SGD | 165,000 | USD | 123,847 | Goldman Sachs International | 06/16/21 | (1,230 | ) | |||||||||||||
USD | 141,000 | CAD | 178,000 | Morgan Stanley & Co. International PLC | 06/16/21 | (655 | ) | |||||||||||||
|
|
|||||||||||||||||||
(62,978 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
$ | (987 | ) | ||||||||||||||||||
|
|
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
27 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| Level 1 Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Master Portfolio has the ability to access; |
| Level 2 Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other marketcorroborated inputs); and |
| Level 3 Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committees (the Global Valuation Committees) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Master Portfolios policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Master Portfolios investments categorized in the fair value hierarchy. The breakdown of the Master Portfolios investments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Common Stocks |
||||||||||||||||
Aerospace & Defense |
$ | 4,034,210 | $ | 116,787 | $ | | $ | 4,150,997 | ||||||||
Air Freight & Logistics |
4,432,110 | 627,458 | | 5,059,568 | ||||||||||||
Airlines |
1,584,559 | 351,695 | | 1,936,254 | ||||||||||||
Auto Components |
2,935,910 | 2,256,747 | | 5,192,657 | ||||||||||||
Automobiles |
5,334,934 | 3,265,020 | | 8,599,954 | ||||||||||||
Banks |
27,813,747 | 19,530,883 | | 47,344,630 | ||||||||||||
Beverages |
6,311,704 | 1,138,004 | | 7,449,708 | ||||||||||||
Biotechnology |
21,439,384 | 1,145,523 | 3,470 | 22,588,377 | ||||||||||||
Building Products |
7,002,579 | 785,100 | | 7,787,679 | ||||||||||||
Capital Markets |
13,931,449 | 2,341,218 | | 16,272,667 | ||||||||||||
Chemicals |
9,237,708 | 6,195,241 | | 15,432,949 | ||||||||||||
Commercial Services & Supplies |
6,691,377 | 710,112 | | 7,401,489 | ||||||||||||
Communications Equipment |
2,707,566 | 432,447 | | 3,140,013 | ||||||||||||
Construction & Engineering |
4,337,018 | 1,373,622 | | 5,710,640 | ||||||||||||
Construction Materials |
760,451 | 1,739,969 | | 2,500,420 | ||||||||||||
Consumer Finance |
4,094,086 | 228,463 | | 4,322,549 | ||||||||||||
Containers & Packaging |
2,025,540 | 23,836 | | 2,049,376 | ||||||||||||
Distributors |
1,098,087 | | | 1,098,087 | ||||||||||||
Diversified Consumer Services |
2,884,804 | 108,557 | | 2,993,361 | ||||||||||||
Diversified Financial Services |
4,113,392 | 728,326 | | 4,841,718 | ||||||||||||
Diversified Telecommunication Services |
5,092,708 | 1,101,622 | | 6,194,330 | ||||||||||||
Electric Utilities |
4,892,984 | 1,982,072 | | 6,875,056 | ||||||||||||
Electrical Equipment |
4,014,738 | 2,362,963 | | 6,377,701 | ||||||||||||
Electronic Equipment, Instruments & Components |
5,507,309 | 6,711,824 | | 12,219,133 | ||||||||||||
Energy Equipment & Services |
3,131,103 | 8,945 | | 3,140,048 | ||||||||||||
Entertainment |
8,386,300 | 663,103 | | 9,049,403 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) |
14,551,590 | 415,237 | | 14,966,827 | ||||||||||||
Food & Staples Retailing |
7,334,499 | 1,059,091 | | 8,393,590 | ||||||||||||
Food Products |
7,293,905 | 3,486,162 | | 10,780,067 | ||||||||||||
Gas Utilities |
2,278,096 | 1,224,668 | | 3,502,764 | ||||||||||||
Health Care Equipment & Supplies |
12,212,212 | 1,015,329 | | 13,227,541 | ||||||||||||
Health Care Providers & Services |
12,216,828 | 703,201 | | 12,920,029 | ||||||||||||
Health Care Technology |
3,275,938 | 68,648 | | 3,344,586 |
28 |
|
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) |
||||||||||||||||
Hotels, Restaurants & Leisure |
$ | 15,148,438 | $ | 455,968 | $ | | $ | 15,604,406 | ||||||||
Household Durables |
5,738,633 | 955,118 | | 6,693,751 | ||||||||||||
Household Products |
2,813,231 | 329,074 | | 3,142,305 | ||||||||||||
Independent Power and Renewable Electricity Producers |
1,652,348 | 732,780 | | 2,385,128 | ||||||||||||
Industrial Conglomerates |
3,166,568 | 1,151,694 | | 4,318,262 | ||||||||||||
Insurance |
9,571,976 | 6,518,307 | | 16,090,283 | ||||||||||||
Interactive Media & Services |
19,623,300 | 11,537,390 | | 31,160,690 | ||||||||||||
Internet & Direct Marketing Retail |
25,825,707 | 6,448,044 | | 32,273,751 | ||||||||||||
IT Services |
19,690,239 | 4,454,884 | | 24,145,123 | ||||||||||||
Leisure Products |
785,865 | 264,726 | | 1,050,591 | ||||||||||||
Life Sciences Tools & Services |
4,836,191 | 2,553,597 | | 7,389,788 | ||||||||||||
Machinery |
12,630,756 | 4,233,232 | | 16,863,988 | ||||||||||||
Marine |
4,521 | 654,207 | | 658,728 | ||||||||||||
Media |
5,093,559 | 371,083 | | 5,464,642 | ||||||||||||
Metals & Mining |
7,757,239 | 5,464,194 | | 13,221,433 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) |
1,377,330 | | | 1,377,330 | ||||||||||||
Multi-line Retail |
3,330,444 | 9,495 | | 3,339,939 | ||||||||||||
Multi-Utilities |
2,684,995 | 594,931 | | 3,279,926 | ||||||||||||
Oil, Gas & Consumable Fuels |
12,928,988 | 7,309,202 | | 20,238,190 | ||||||||||||
Paper & Forest Products |
1,149,693 | 253,137 | | 1,402,830 | ||||||||||||
Personal Products |
755,224 | 2,228,015 | | 2,983,239 | ||||||||||||
Pharmaceuticals |
11,847,876 | 4,190,184 | | 16,038,060 | ||||||||||||
Professional Services |
5,901,804 | 1,257,776 | | 7,159,580 | ||||||||||||
Real Estate Management & Development |
3,784,003 | 3,055,044 | | 6,839,047 | ||||||||||||
Road & Rail |
3,776,302 | 370,091 | | 4,146,393 | ||||||||||||
Semiconductors & Semiconductor Equipment |
17,782,934 | 16,485,233 | | 34,268,167 | ||||||||||||
Software |
37,686,010 | 987,474 | | 38,673,484 | ||||||||||||
Specialty Retail |
11,824,570 | 1,235,121 | | 13,059,691 | ||||||||||||
Technology Hardware, Storage & Peripherals |
17,919,008 | 10,831,900 | | 28,750,908 | ||||||||||||
Textiles, Apparel & Luxury Goods |
4,561,437 | 1,573,791 | | 6,135,228 | ||||||||||||
Thrifts & Mortgage Finance |
5,924,636 | 1,629,903 | | 7,554,539 | ||||||||||||
Tobacco |
106,941 | 1,763,172 | | 1,870,113 | ||||||||||||
Trading Companies & Distributors |
4,981,311 | 1,164,872 | | 6,146,183 | ||||||||||||
Transportation Infrastructure |
60,143 | 500,825 | | 560,968 | ||||||||||||
Utilities |
88,038 | | | 88,038 | ||||||||||||
Water Utilities |
1,021,903 | 392,589 | | 1,414,492 | ||||||||||||
Wireless Telecommunication Services |
304,298 | 2,062,026 | | 2,366,324 | ||||||||||||
Preferred Securities |
||||||||||||||||
Preferred Stocks |
||||||||||||||||
Automobiles |
| 42,272 | | 42,272 | ||||||||||||
Banks |
995,285 | | | 995,285 | ||||||||||||
Electric Utilities |
68,437 | | | 68,437 | ||||||||||||
Health Care Equipment & Supplies |
| 62,818 | | 62,818 | ||||||||||||
Metals & Mining |
104,942 | | | 104,942 | ||||||||||||
Oil, Gas & Consumable Fuels |
1,171,836 | | | 1,171,836 | ||||||||||||
Trading Companies & Distributors |
45,031 | | | 45,031 | ||||||||||||
Rights |
||||||||||||||||
Gas Utilities |
| 16 | | 16 | ||||||||||||
Metals & Mining |
14,494 | | | 14,494 | ||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
143,786,279 | | | 143,786,279 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 653,281,588 | $ | 168,026,058 | $ | 3,470 | $ | 821,311,116 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments(a) |
||||||||||||||||
Assets |
||||||||||||||||
Equity Contracts |
$ | 5,767,129 | $ | | $ | | $ | 5,767,129 | ||||||||
Foreign Currency Exchange Contracts |
| 61,991 | | 61,991 |
M A S T E R P O R T F O L I O S C H E D U L E O F I N V E S T M E N T S |
29 |
Schedule of Investments (unaudited) (continued) March 31, 2021 |
Diversified Equity Master Portfolio |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities |
||||||||||||||||
Equity Contracts |
$ | (83,191 | ) | $ | | $ | | $ | (83,191 | ) | ||||||
Foreign Currency Exchange Contracts |
| (62,978 | ) | | (62,978 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 5,683,938 | $ | (987 | ) | $ | | $ | 5,682,951 | ||||||||
|
|
|
|
|
|
|
|
(a) | Derivative financial instruments are futures contracts and forward foreign currency exchange contracts. Futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Currency Abbreviation | ||
AUD | Australian Dollar | |
CAD | Canadian Dollar | |
CHF | Swiss Franc | |
EUR | Euro | |
GBP | British Pound | |
JPY | Japanese Yen | |
NOK | Norwegian Krone | |
NZD | New Zealand Dollar | |
SEK | Swedish Krona | |
SGD | Singapore Dollar | |
USD | United States Dollar |
Portfolio Abbreviation | ||
ADR | American Depositary Receipt | |
CPO | Certificates of Participation (Ordinary) | |
GDR | Global Depositary Receipt | |
JSC | Joint Stock Company | |
MSCI | Morgan Stanley Capital International | |
NVDR | Non-Voting Depositary Receipt | |
PCL | Public Company Limited | |
PJSC | Public Joint Stock Company | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poors | |
SAB | Special Assessment Bonds |
30 |
|