Cash

XTSLA

BCF Treasury Fund

How To Buy
  • NAV as of 30-Dec-2024 $1.00
  • 7 Day SEC Yield as of 30-Dec-2024 4.43%

Overview

Investment Objective

BlackRock Cash Funds: Treasury seeks to achieve its investment objective by investing at least 99.5% of its total assets in cash, U.S. Treasury bills, notes and other direct obligations of the U.S. Treasury, and repurchase agreements secured by such obligations or cash. The Fund invests in securities maturing in 397 days or less (with certain exceptions) and the portfolio will have a dollar-weighted average maturity of 60 days or less and a dollar-weighted average life of 120 days or less. In addition, the Fund may invest in variable and floating rate instruments and transact in securities on a when-issued, delayed delivery or forward commitment basis. The Fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in U.S. Treasury bills, notes and other obligations of the U.S. Treasury, and repurchase agreements secured by such obligations. This policy is a non fundamental policy of the Fund and the Fund will not change the policy without providing shareholders with at least 60 days’ prior notice of any change in the policy.
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Performance

Performance


The daily Mark-to-Market Net Asset Value (“MTM NAV”) chart is provided in accordance with the Securities and Exchange Commission’s Rule 2a-7 of the Investment Company Act of 1940, and reflects fund level data. The Mark-to-Market NAV value should not be viewed as indicative of future MTM NAVs or the future performance of any of the funds and should not be relied upon for purposes of making an investment decision. The MTM NAV may change from day today. The MTM NAV does not reflect the price at which an investor may transact in the Fund. Values in the chart above represent the actual fund MTM NAV and are rounded to 4 decimal places, which could cause chart variances.
 
You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
 
Past performance does not guarantee future results.
Performance chart data not available for display.
Performance chart data not available for display.

Key Facts

Key Facts

Size of Fund (Millions)
as of 30-Dec-2024
$21,176.0
Performance Start Date
04-Feb-2009
Asset Class
Government
Minimum Initial Investment
$100,000,000
CUSIP
066922477
Trading Deadline
5:00 p.m. (ET)
Size of Class (Millions)
as of 30-Dec-2024
$15,648.4
Base Currency
U.S. Dollar
Gross Expense Ratio
0.12%
Domicile
United States
Net Expense Ratio
0.09%
Fund Code
1103
Regulatory Links
> Public Filings
> Form N-MFP
Expenses are as of the most current prospectus. BlackRock has contractually agreed to waive or reimburse certain fees and expenses through June 30, 2025.  Contractual waivers may not be terminated prior to July 1, 2025 without consent of the Board of Trustees of Master Investment Portfolio (MIP), in which the Fund invests. BlackRock Advisors, LLC (“BAL”), the administrator to the Fund, and BFA, the investment adviser to Treasury Master Portfolio, have also contractually agreed to reimburse, or provide offsetting credits to, the Fund and Treasury Master Portfolio, as applicable, for Independent Expenses through June 30, 2025. Independent Expenses consist of the Fund’s allocable portion of the fees and expenses of the independent trustees of the Trust and Master Investment Portfolio, counsel to such independent trustees and the independent registered public accounting firm that provides audit services to the Fund and Treasury Master Portfolio. The investment advisor and/or other service providers may also voluntarily agree to waive or reimburse certain fees and expenses. These voluntary fee and expense waivers or reimbursements may discontinue at any time without notice. When waivers or reimbursements are in place, the operating expenses are reduced and total returns to the shareholder in the fund increase. Please see the prospectus for additional information

Portfolio Characteristics

Portfolio Characteristics

Weighted Average Maturity
as of 27-Dec-2024
44 days
Daily Distribution Factor
as of 27-Dec-2024
0.000364026
Weekly Liquid Assets
as of 27-Dec-2024
100.0%
1-day Yield
as of 27-Dec-2024
4.44%
7-day Yield
as of 30-Dec-2024
4.43%
7-day SEC Yield
as of 30-Dec-2024
4.43%
30-day Yield
as of 30-Dec-2024
4.51%
30-day SEC Yield
as of 30-Dec-2024
4.51%
Weighted Average Life
as of 27-Dec-2024
101 days
Daily Liquid Assets
as of 27-Dec-2024
100.0%
Net Shareholder Flows
as of 30-Dec-2024
$891,769,983
Unsubsidized 1-day Yield
as of 30-Dec-2024
4.36%
Unsubsidized 7-day Yield
as of 30-Dec-2024
4.40%
7-day Unsubsidized SEC Yield
as of 30-Dec-2024
4.40%
Unsubsidized 30-day Yield
as of 30-Dec-2024
4.48%
Unsubsidized 30-day SEC Yield
as of 30-Dec-2024
4.48%
The daily shareholder flows data is provided in accordance with the Rule 2a-7 of the Investment Company Act of 1940. If there are no or net zero daily shareholder flows for a given business day, the chart will not reflect a data point for that business day.

Fund Ratings

Fund Ratings

Moody'sS&P
Aaa-mfAAAm
This Fund fits an exemption from that rule which permits a state regulated insurance company to report shares of this fund as debt. Representatives of state regulated insurance companies should contact the NAIC's Securities Valuation Office for further information on the criteria for listing on the U.S. Direct Obligations / Full Faith and Credit Exempt List.
Ratings by S&P and/or Moody's apply to the credit quality of a fund’s portfolio and are not a recommendation to buy, sell or hold securities of a fund, are subject to change and do not remove market risks associated with investments in the fund. For complete information on the methodology used by each rating agency, please visit the S&P or Moody's websites.

Holdings

Holdings

Position Description Amortized Cost %Par Par Identifier Final Maturity Maturity/Reset Yield/Coupon
Download Holdings
Holdings shown are unaudited and are based on the fund’s unofficial books and records, and may not be representative of current or future investments. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities. The holdings report provided represents certain information regarding the traded positions held within the portfolio as of the specified date. It does not include cash, accrued income and/or payables/receivables. The total assets reflected on the holdings report provided will not match to the net asset value of the fund as these items are excluded.

Exposure Breakdowns

Exposure Breakdowns

as of 27-Dec-2024

% of Weight

Type Fund
Sector exposure is calculated by aggregating the percent par of individual securities in the portfolio by security type. BlackRock uses a proprietary process to determine the security type of individual securities, by conducting a thorough analysis of the issuer/obligor, including but not limited to any support providers or enhancers. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Dec-2024

% of Weight

Type Fund
Geographic exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio based on a hierarchy by security type.  For repurchase agreements, exposure is rolled-up to the counterparty for Other Repurchase agreements.  For US Treasury and US Government Agency repurchase agreements, exposure looks through to the underlying collateral.  For Asset Backed Commercial Paper (“ABCP”), exposure looks to the sponsor level of the ABCP conduit.  For Variable Rate Demand Notes, exposure rolls up to the credit-enhancer.  The Geography report represents BlackRock’s view of each security’s geography risk. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Dec-2024

% of Weight

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received.  The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances  (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.
as of 27-Dec-2024

% of Weight

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted by BlackRock to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds). Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Eric Hiatt, CFA, FRM
Eric Hiatt, CFA, FRM
Managing Director, Portfolio Manager

Eric D. Hiatt, CFA, FRM, Managing Director and portfolio manager, is the Head of U.S. Portfolio Management for Cash Management within BlackRock Global Markets.

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Eric D. Hiatt, CFA, FRM, Managing Director and portfolio manager, is the Head of U.S. Portfolio Management for Cash Management within BlackRock Global Markets. As a member of BlackRock Global Markets, he contributes to the development and implementation of investment strategy and serves as portfolio lead for the U.S. Prime funds, Collective Trust Funds and securities lending cash collateral.


Prior to joining BlackRock in 2012, Mr. Hiatt was a Senior Portfolio Manager at Dwight Asset Management Company where he was responsible for generating and directing tactical trading for the money market and ultra-short duration desk. Prior to joining Dwight in 2009, Mr. Hiatt was a Senior Portfolio Manager at Lehman Brothers Asset Management where he spent six years assisting in the development of portfolio strategy and implementation of investment objectives for global cash management team. Previously, he spent five years as a trader and assistant portfolio manager for Opus Investment Management. Mr. Hiatt began his career as an analyst in the Treasury group for Eastern Enterprises, a utility holding company, in 1997.

Mr. Hiatt earned a BS in finance from Bentley University in 1997 and an MBA from Boston College's Carroll School of Management in 2006.  He is a member of the CFA Institute and the Global Association of Risk Professionals.

 

Joseph Markowski
Joseph Markowski
Managing Director, Portfolio Manager

Joseph Markowski, Managing Director and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets.

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Joseph Markowski, Managing Director and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets. He is responsible for managing USD liquidity and short duration portfolios, with a focus on overseeing U.S. Government and Treasury strategies.

Prior to moving to his current role in 2008, Mr. Markowski was a member of BlackRock's Global Rates Investment Team within BlackRock Fundamental Fixed Income portfolio management group. In this role, he was responsible for financing the firm's leveraged funds and alternative products. Mr. Markowski joined BlackRock in 1993 as a member of the Global Client Group, where he was responsible for marketing and sales support for the firm's institutional liquidity business.

Mr. Markowski earned a BS degree in finance from Drexel University in 1994.

Eion D'Anjou
Eion D'Anjou
Director, Portfolio Manager

Eion D'Anjou, Director and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets.

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Eion D'Anjou, Director and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets. His primary responsibilities include managing U.S. Liquidity Portfolios, including institutional and retail money market funds with a focus on U.S. Government and Treasury strategies.
 
Prior to joining BlackRock in April of 2017, Mr. D’Anjou worked for HSBC Securities where he was most recently the primary market maker for U.S. Treasury securities with maturities less than 5 years.
 
Mr. D’Anjou received a B.S. in Applied Economics and Management from Cornell University in May of 2005.

Christopher Linsky
Christopher Linsky
Vice President, Portfolio Manager

Christopher Linsky, Vice President and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets.

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Christopher Linsky, Vice President and portfolio manager, is a member of the Cash Management team within BlackRock Global Markets. His primary responsibility is managing US Liquidity Portfolios, including proprietary and subadvised government money market funds as well as dollar denominated offshore portfolios.


Mr. Linsky joined BlackRock in 2000 as a member of the Global Investment Operations Group, where he was responsible for the reconciliation of cash accounts for several large custodian bank relationships. Previously, he worked for SEI Investments as a mutual fund accountant for taxable and tax-exempt funds. Mr. Linsky began his investment career as an investment advisor for Morgan Stanley in 1997.


Mr. Linsky earned a BS degree in Finance and Economics from Drexel University in 1997 and an MBA with a concentration in Finance from Villanova University in 2003.

Alexander Polinsky
Alexander Polinsky
Vice President

Alexander Polinsky, Vice President, is a portfolio manager within BlackRock Global Markets.

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Alexander Polinsky, Vice President, is a portfolio manager within BlackRock Global Markets. He is responsible for managing government and treasury money market portfolios.

 

Before joining BlackRock in May 2019, Mr. Polinsky was a Systems Analyst with Independence Blue Cross where he designed predictive models for the healthcare industry.

 

Earlier in his career, Mr. Polinsky was with Peoples Natural Gas where he was an Energy Analyst.

 

Mr. Polinsky earned a BA degree in Economics, with a concentration in Quantitative Science, from Duquesne University and completed his MS in Analytics from Villanova University.

 

Portfolio Manager

Literature

Literature

 

How to Buy BlackRock Cash Management Funds

How to Buy BlackRock Cash Management Funds

There are many ways to access BlackRock Funds, learn how you can add them to your portfolio.
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Complete and submit an executed application along with any supporting documentation required. Visit our Account Resources page to learn more.

Contact us at 800-441-7450 for assistance.

BlackRock cash management funds are also available through certain brokerage accounts. Visit your brokerage today to see how you can get started.


You should consider the investment objectives, risks and expenses of the Funds carefully before investing. The Funds’ prospectuses and, if available summary prospectuses, contain this and other information about the Funds and are available by calling our Client Service Center at 800-441-7450 or by visiting www.blackrock.com/cash. Please read the prospectus carefully before investing.

 

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

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