- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
24 Agosto 2012 - 7:05PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF
PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-06196 and 811-21298
Name of Fund: BIF Treasury Fund and Master Treasury LLC
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent
for service: John M. Perlowski, Chief Executive Officer, BIF Treasury Fund and
Master Treasury LLC, 55 East 52
nd
Street, New York, NY 10055
Registrants telephone number, including area code: (800) 626-1960
Date of fiscal year end: 03/31/2013
Date of reporting period: 06/30/2012
Item 1 Schedule of Investments
Schedule
of Investments
June 30, 2012 (Unaudited)
|
BIF
Treasury Fund
(Percentages shown are based on Net Assets)
|
|
|
Mutual Fund
|
Value
|
Master Treasury LLC
|
$ 1,524,850,651
|
Total Investments (Cost - $1,524,850,651) 99.9%
|
1,524,850,651
|
Other Assets Less Liabilities 0.1%
|
2,013,628
|
Net Assets 100.0%
|
$ 1,526,864,279
|
BIF Treasury Fund (the Fund) seeks to achieve its investment objective by investing all of its assets in Master Treasury LLC (the "Master LLC"), which has the same investment objective and strategies as the
Fund. As of June 30, 2012, the value of the investment and the percentage owned by the Fund of the Master LLC was $1,524,850,651 and 55.0%, respectively.
The Fund records its investment in the Master LLC at fair value. The Funds investment in the Master LLC is valued pursuant to the pricing policies approved by the Board of Directors of the Master LLC.
|
|
Fair Value Measurements Various inputs
are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure
hierarchy consisting of three broad levels for financial reporting purposes as follows:
|
|
|
Level 1 unadjusted price quotations
in active markets/exchanges for identical assets and liabilities
|
|
|
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 market-corroborated inputs)
|
|
|
Level 3 unobservable inputs based on
the best information available in the circumstances, to the extent observable inputs are not available (including the Fund's own
assumptions used in determining the fair value of investments)
|
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Master LLCs policy, transfers between different levels of the fair value
disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the
risks associated with investing in those securities. For information about the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Master LLCs most recent financial statements as
contained in its annual report.
As of June 30, 2012, the Fund's investment in the Master LLC was classified as Level 2.
There were no transfers between levels during the period ended June 30, 2012.
BIF TREASURY FUND
|
JUNE 30, 2012
|
1
|
Schedule
of Investments
June 30, 2012 (Unaudited)
|
Master
Treasury LLC
(Percentages shown are based on Net Assets)
|
|
Par
|
|
US Treasury
Obligations
|
(000)
|
Value
|
US Treasury Bills (a):
|
|
|
0.04% - 0.09%,
7/05/12
|
$
|
131,403
|
$
|
131,401,609
|
0.03% - 0.08%, 7/12/12
|
610,829
|
610,817,032
|
0.05% - 0.06%, 7/19/12
|
115,292
|
115,288,712
|
0.06% - 0.08%, 7/26/12
|
346,783
|
346,767,263
|
0.05% - 0.10%, 8/02/12
|
164,015
|
164,001,856
|
0.06% - 0.10%, 8/09/12
|
122,694
|
122,681,958
|
0.09% - 0.13%, 8/23/12
|
95,000
|
94,984,569
|
0.09%, 8/30/12
|
75,000
|
74,987,991
|
0.07% - 0.13%, 9/06/12
|
115,123
|
115,100,775
|
0.08% - 0.09%, 9/13/12
|
52,397
|
52,387,108
|
0.10% - 0.15%, 9/20/12
|
110,000
|
109,969,128
|
0.09% - 0.15%, 9/27/12
|
105,000
|
104,968,738
|
0.14% - 0.15%, 10/04/12
|
40,000
|
39,984,709
|
0.15%, 10/11/12
|
50,000
|
49,978,333
|
0.13%, 10/25/12
|
60,000
|
59,975,417
|
0.15%, 11/01/12
|
50,000
|
49,974,826
|
0.14%, 11/08/12
|
25,000
|
24,986,938
|
0.15%, 11/23/12
|
25,000
|
24,985,198
|
0.15%, 11/29/12
|
20,000
|
19,987,675
|
0.13% - 0.15%, 12/06/12
|
85,000
|
84,948,478
|
0.15%, 12/20/12
|
60,000
|
59,956,500
|
0.15%, 12/27/12
|
45,000
|
44,966,063
|
0.17%, 3/07/13
|
25,115
|
25,085,232
|
US Treasury Notes:
|
|
|
0.63%, 7/31/12
|
90,000
|
90,043,750
|
0.38%, 8/31/12
|
20,000
|
20,009,928
|
1.38%, 9/15/12
|
15,000
|
15,038,743
|
0.38%, 9/30/12
|
50,000
|
50,030,719
|
0.63%,
12/31/12
|
22,000
|
22,053,288
|
Total Investments (Cost - $2,725,362,536*)
98.4%
|
2,725,362,536
|
Other Assets Less Liabilities
1.6%
|
|
45,101,875
|
Net Assets 100.0%
|
|
|
$
|
2,770,464,411
|
*
|
|
Cost for federal income tax purposes.
|
(a)
|
|
Rates shown are discount rates or a range
of discount rates paid at the time of purchase.
|
|
|
Fair Value Measurements - Various inputs are
used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure hierarchy
consisting of three broad levels for financial reporting purposes as follows:
|
|
|
Level 1 unadjusted price quotations
in active markets/exchanges for identical assets and liabilities
|
|
|
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 market-corroborated inputs)
|
|
|
Level 3 unobservable inputs based on
the best information available in the circumstances, to the extent observable inputs are not available (including the Master LLC's
own assumptions used in determining the fair value of investments)
|
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Master LLC's policy, transfers between different levels of the fair value
disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the
risks associated with investing in those securities. For information about the Master LLC's policy regarding valuation of investments and other significant accounting policies, please refer to the Master LLC's most recent financial statements as
contained in its annual report.
The following table summarizes the Master LLCs investments categorized in the disclosure hierarchy as of June 30, 2012:
|
Level
1
|
Level
2
|
Level
3
|
Total
|
Assets:
|
|
|
|
|
Investments:
|
|
|
|
|
US Treasury
|
|
|
|
|
Obligations
|
|
$2,725,362,536
|
|
$2,725,362,536
|
Certain of the Master LLCs assets are held at carrying amount, which approximates fair value for financial reporting purposes. As of June 30, 2012, cash of $47,812,141 is categorized as Level 1 within the
disclosure hierarchy.
There were no transfers between levels during the period ended June 30, 2012.
MASTER TREASURY LLC
|
JUNE 30, 2012
|
1
|
Item 2
|
|
Controls and Procedures
|
|
|
|
2(a)
|
|
The
registrants'
principal
executive
and
principal
financial
officers,
or
persons
performing
similar
functions,
have
concluded
that
the
registrants'
disclosure
controls
and
procedures
(as
defined
in
Rule
30a-3(c)
under
the
Investment
Company
Act
of
1940,
as
amended
(the
31940
Act3))
are
effective
as
of
a
date
within
90
days
of
the
filing
of
this
report
based
on
the
evaluation
of
these
controls
and
procedures
required
by
Rule
30a-3(b)
under
the
1940
Act
and
Rule
15d-15(b)
under
the
Securities
Exchange
Act
of
1934,
as
amended.
|
|
|
|
2(b)
|
|
There
were
no
changes
in
the
registrants'
internal
control
over
financial
reporting
(as
defined
in
Rule
30a-3(d)
under
the
1940
Act)
that
occurred
during
the
registrants'
last
fiscal
quarter
that
have
materially
affected,
or
are
reasonably
likely
to
materially
affect,
the
registrants'
internal
control
over
financial
reporting.
|
|
|
|
Item 3
|
|
Exhibits
|
|
|
|
|
Certifications Attached hereto
|
|
|
|
|
Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, each registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
BIF Treasury Fund and Master
Treasury LLC
|
|
|
|
|
By:
|
/s/ John M. Perlowski
|
|
|
John M. Perlowski
|
|
|
Chief Executive Officer (principal
executive officer) of
BIF Treasury Fund and Master Treasury LLC
|
|
|
|
|
Date: August 24, 2012
|
|
|
|
|
Pursuant to the requirements
of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this
report has been signed below by the following persons on behalf of each registrant and
in the capacities and on the dates indicated.
|
|
|
|
|
By:
|
/s/ John M. Perlowski
|
|
|
John M. Perlowski
|
|
|
Chief Executive Officer (principal
executive officer) of
BIF Treasury Fund and Master Treasury LLC
|
|
|
|
|
Date: August 24,
2012
|
|
|
|
|
By:
|
/s/ Neal J. Andrews
|
|
|
Neal J. Andrews
|
|
|
Chief Financial Officer (principal
financial officer) of
BIF Treasury Fund and Master Treasury LLC
|
|
|
|
|
Date: August 24, 2012
|
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