Diversified Equity Alpha Master Portfolio

Master Investment Portfolio

Actively managed U.S. equity fund
$2.80B NAV
2,767 positions · as of 2026-06-30 · filed 2026-08-25

Fund classification

Classified from what the fund holds · as of 2026 Q2

Diversified Equity Alpha Master Portfolio is an actively managed U.S. equity fund.

Asset class
Equity
Region
United States
Management
Actively managed
Fund type
Open-end fund
Features
Master-feeder

Fund profile

This fund files no prospectus profile. Unit investment trusts and closed-end funds register on forms that carry no objective or fee tagging, and some fund families file without it — a gap in what was filed, not a fund without an objective or without fees.

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

116.64%
of net assets
Stocks88.40%
Cash & short-term17.93%
Derivatives10.31%
Other0.00%

These positions come to 116.64% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.

Derivatives are shown at market value, not notional exposure.

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
International19.3%
Information Technology16.4%
Cash15.4%
Other8.7%
11 smaller40.2%

Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 549 new383 exited

Largest new: SPCX, ROST, HONA, MERRILL LYNCH INTERNATIONAL, JFrog Ltd, MAIR, AIG, Ennoconn Corp

Largest exited: CTVA, MCD, UNP, HSBC BANK PLC, SLB, DUK, IONQ, BA

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

1-year
+31.35%
3-year
+83.23%
5-year
+82.80%
Volatility
12.74%
Worst 3-yr fall
-7.94%
Cumulative return· Jul 2023 – Apr 2026

May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES10.49%$294.32M
BlackRock Funds III7.44%$208.62M
Citibank NA5.53%$155.19M
NVIDIA CorpNVDA2.88%$80.90M
Apple IncAAPL2.51%$70.34M
CITIBANK NA2.24%$62.92M
Taiwan Semiconductor Manufacturing Co Ltd2.16%$60.67M
MERRILL LYNCH INTERNATIONAL1.87%$52.45M
Microsoft CorpMSFT1.71%$47.83M
Amazon.com IncAMZN1.55%$43.50M
Showing 10 of 2,767Sign in to see more

Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.

Top 10 positions are 38.39% of net assets, top 25 49.98%, across 2.7K issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

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