# EDGAR Filing Document

**Accession Number:** 0001807333
**File Stem:** 0002048251-26-002374
**Filing Date:** 2026-3
**Character Count:** 16043
**Document Hash:** 60119890dcdf5e226a1666cb8026dfc9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-002374.hdr.sgml**: 20260319

**ACCESSION NUMBER**: 0002048251-26-002374

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20240630

**FILED AS OF DATE**: 20260319

**DATE AS OF CHANGE**: 20260319

**PERIOD START**: 20250331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wilshire Private Assets Master Fund
- **CENTRAL INDEX KEY:** 0001807333

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23607
- **FILM NUMBER:** 26773447

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 610-676-1000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Delaware Wilshire Private Markets Master Fund
- **DATE OF NAME CHANGE:** 20200320

## Nport-Ex

Wilshire Private Assets Fund

Schedule of Investments

June 30, 2024 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Master Fund — 99.2%** | **Master Fund — 99.2%** | **Master Fund — 99.2%** | **Master Fund — 99.2%** |
| **Description** | **Geographic Region** | **Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilshire Private Assets Master Fund, Class Institutional | North America | 2813361 | $33507126 |
| &nbsp;&nbsp;&nbsp;Total Master Fund (Cost — $29,639,626) |  |  | 33507126 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short Term Investment — 0.8%**<br>**Description** | <br>**Geographic Region** | <br>**Shares**  | <br>**Fair Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Class X |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.236%\*\* | North America | 266733 | 266733 |
| &nbsp;&nbsp;&nbsp;Total Short Term Investment (Cost — $266,733) |  |  | 266733 |
| Total Investments — 100.0% (Cost — $29,906,359) |  |  | $33773859 |
| &nbsp;&nbsp;&nbsp;Other Assets and Liabilities, Net — 0.0% |  |  | (13712) |
| &nbsp;&nbsp;&nbsp;Net Assets — 100.0% |  |  | $33760147 |

---

\*\* The rate reported is the 7-day effective yield as of June 30, 2024.

DWP-QH-001-0700

Wilshire Private Assets Tender Fund

Schedule of Investments

June 30, 2024 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Master Fund — 47.1%** | **Master Fund — 47.1%** | **Master Fund — 47.1%** | **Master Fund — 47.1%** |
| **Description** | **Geographic Region** | **Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilshire Private Assets Master Fund, Class Institutional | North America | 3655 | $43533 |
| &nbsp;&nbsp;&nbsp;Total Master Fund (Cost — $40,499) |  |  | 43533 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short Term Investment — 79.7%**<br>**Description** | <br>**Geographic Region** | <br>**Shares**  | <br>**Fair Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Class X |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.236%\*\* | North America | 73803 | 73803 |
| &nbsp;&nbsp;&nbsp;Total Short Term Investment (Cost — $73,803) |  |  | 73803 |
| Total Investments — 126.8% (Cost — $114,302) |  |  | $117336 |
| &nbsp;&nbsp;&nbsp;Other Assets and Liabilities, Net — (26.8)% |  |  | (24770) |
| &nbsp;&nbsp;&nbsp;Net Assets — 100.0% |  |  | $92566 |

---

\*\* The rate reported is the 7-day effective yield as of June 30, 2024.

DWP-QH-001-0700

Wilshire Private Assets Master Fund

Schedule of Investments

June 30, 2024 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** | **Primary Private Fund Investments — 68.5%(A)(B)** |
| **Description** | **Initial Acquisition Date** | **Redemption Frequency** | **Geographic Region** | **Industry** | **Commitment**  | **Unfunded Portion of Commitment**  | **Shares**  | **Fair Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brevet Direct Lending \*(C) | 6/9/2023 | Quarterly | Global | Private Lending | $2000000 | $— | 2000 | $2219850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buhuovc L.P. \* | 3/8/2021 |  | Asia-Pacific | Venture Capital | 6500000 | 49915 | (D) | 9246727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Bayside Loan Opportunity Feeder VI | 12/8/2020 |  | North America | Distressed Debt | 4000000 | 1376863 | (D) | 2581386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Linden Structured Capital Fund L.P. \* | 12/18/2020 |  | North America | Buyout | 6500000 | 747687 | (D) | 7811789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RCP MB Investments B, L.P. \* | 12/26/2021 |  | North America | Buyout | 1000000 |  | (D) | 1101048 |
| &nbsp;&nbsp;&nbsp;Total Primary Private Fund Investments (Cost — $17,696,959) | &nbsp;&nbsp;&nbsp;Total Primary Private Fund Investments (Cost — $17,696,959) | &nbsp;&nbsp;&nbsp;Total Primary Private Fund Investments (Cost — $17,696,959) | &nbsp;&nbsp;&nbsp;Total Primary Private Fund Investments (Cost — $17,696,959) |  |  |  |  | 22960800 |
| **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** | **Secondary Private Fund Investments — 21.1%(A)(B)** |
| **Description** | **Initial Acquisition Date** | **Redemption Frequency** | **Geographic Region** | **Industry** | **Commitment**  | **Unfunded Portion of Commitment**  | **Shares**  | **Fair Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basalt Infrastructure Partners II, L.P. \* | 11/17/2020 |  | UK, Europe and US | Infrastructure | 6000000 | 1863982 | (D) | 4447312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VII A \*(E) | 7/19/2021 |  | Europe | Buyout | 1044282 (F) | 11036 (F) | (D) | 156417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VII C \*(E) | 7/19/2021 |  | Europe | Buyout | 189872 (F) | 2023 (F) | (D) | 35372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VIII B L.P. (E) | 7/19/2021 |  | Europe | Buyout | 487374 (F) | 50449 (F) | (D) | 275324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VIII D L.P. (E) | 7/19/2021 |  | Europe | Buyout | 2781939 (F) | 288700 (F) | (D) | 1728062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VIII Top Up Fund B L.P. \*(E) | 7/19/2021 |  | Europe | Buyout | 1475077 (F) | 90954 (F) | (D) | 440376 |
| &nbsp;&nbsp;&nbsp;Total Secondary Private Fund Investments (Cost — $6,243,377) | &nbsp;&nbsp;&nbsp;Total Secondary Private Fund Investments (Cost — $6,243,377) | &nbsp;&nbsp;&nbsp;Total Secondary Private Fund Investments (Cost — $6,243,377) | &nbsp;&nbsp;&nbsp;Total Secondary Private Fund Investments (Cost — $6,243,377) |  |  |  |  | 7082863 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Short Term Investment — 10.8%**<br>**Description** | <br>**Geographic Region** | <br>**Shares**  | <br>**Fair Value**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Class X |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.236%\*\* | North America | 3630568 | 3630568 |
| &nbsp;&nbsp;&nbsp;Total Short Term Investment (Cost — $3,630,568) |  |  | 3630568 |
| Total Investments — 100.4% (Cost — $27,570,904) |  |  | $33674231 |
| &nbsp;&nbsp;&nbsp;Other Assets and Liabilities, Net — (0.4)% |  |  | (123707) |
| &nbsp;&nbsp;&nbsp;Net Assets — 100.0% |  |  | $33550524 |

---

\* Non-income producing security.

\*\* The rate reported is the 7-day effective yield as of June 30, 2024.

(A) Primary Private Fund Investments and Secondary Private Fund Investments are not redeemable and the final distribution date is not known at this time, except as noted in the Redemption Frequency column. 

Wilshire Private Assets Master Fund

Schedule of Investments

June 30, 2024 (Unaudited)

(B) Private Assets are generally issued in private placement transactions and as such are generally restricted as to resale. Each investment may have been purchased on various dates and for different amounts. The date of the first purchase is reflected under Acquisition Date. Total fair value of restricted investments as of June 30, 2024, was $30,043,663 or 89.5% of net assets. As of June 30, 2024, the aggregate cost of each investment restricted to sale was $2,000,000, $5,644,299, $2,850,057, $6,197,842, $1,004,761, $4,132,713, $111,498, $36,671, $279,050, $1,489,885, $193,560, respectively, totaling $23,940,336.

(C) Initial lock-up period: six months to five years.

(D) Investment does not issue shares.

(E) Security value was determined by using significant unobservable inputs.

(F) Amount reflected in GBP currency.

L.P. — Limited Partnership <br>

DWP-QH-001-0700

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Wilshire Private Assets Master Fund

- **b. Investment Company Act file number:** 811-23607

- **c. CIK number of Registrant:** 0001807333

- **d. LEI of Registrant:** 549300G16JRWI5O36637

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 6106761000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Wilshire Private Assets Master Fund

- **c. LEI of Series:** 549300G16JRWI5O36637

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-03-31

- **b. Date as of which information is reported:** 2024-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $33689116.96

**Total Liabilities:** $138593.22

**Net Assets:** $33550523.74

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.17%               | 2.58%                | -2.76%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $866142.46               | $-444354.55                                |
| Month 2  | $487323.29               | $200917.38                                 |
| Month 3  | $0.00                    | $-63709.16                                 |

### Schedule of Portfolio Investments

| Name                                               | Title                                                               | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Graphite Capital Partners VIII D LP                | Graphite Capital Partners VIII D LP PRIVATE EQUITY FUND             | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | GB        |   1107945 | NS      | $1728062.09   | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphite Capital Partners VIII B LP                | Graphite Capital Partners VIII B LP PRIVATE EQUITY FUND             | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | GB        |    206192 | NS      | $275324.19    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X CLASS X          | CUSIP: 31846V336<br>LEI: N/A | Long             | STIV             |  | US        |   3630568 | PA      | $3630568.05   | 10.82%            |  |  |  | No            |                  1 | On Loan: No      |
| Linden Structured Capital Fund LP                  | Linden Structured Capital Fund LP PRIVATE EQUITY FUND               | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | US        |   6197841 | NS      | $7811789.07   | 23.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Graphite Capital Partners VII A                    | Graphite Capital Partners VII A PRIVATE EQUITY FUND                 | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | GB        |     79951 | NS      | $156416.54    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphite Capital Partners VII C                    | Graphite Capital Partners VII C PRIVATE EQUITY FUND                 | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | GB        |     26380 | NS      | $35371.90     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BUHUOVC LP                                         | BUHUOVC LP PRIVATE EQUITY FUND                                      | CUSIP: 96BUH0001<br>LEI: N/A | Long             | EC               |  | US        |   5644299 | NS      | $9246727.00   | 27.56%            |  |  |  | No            |                  1 | On Loan: No      |
| Basalt Infrastructure Partners II C L.P.           | Basalt Infrastructure Partners II C L.P. PRIVATE EQUITY FUND        | CUSIP: 96MSCGZU1<br>LEI: N/A | Long             | EC               |  | US        |   4132713 | NS      | $4447312.00   | 13.26%            |  |  |  | No            |                  3 | On Loan: No      |
| RCP MB Investments B, L.P.                         | RCP MB Investments B, L.P. PRIVATE EQUITY FUND                      | CUSIP: 99RCP2021<br>LEI: N/A | Long             | EC               |  | US        |   1004761 | NS      | $1101048.00   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BREVET DIRECT LENDING SHORT DURATION FUND LTD      | BREVET DIRECT LENDING SHORT DURATION FUND LTD PRIVATE EQUITY FUND   | CUSIP: 96BREV001<br>LEI: N/A | Long             | EC               |  | US        |   2000000 | NS      | $2219850.24   | 6.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphite Capital Partners VIII Top Up Fund B LP    | Graphite Capital Partners VIII Top Up Fund B LP PRIVATE EQUITY FUND | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | GB        |    139134 | NS      | $440375.63    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| H.I.G. Bayside Loan Opportunity Feeder Fund VI     | H.I.G. Bayside Loan Opportunity Feeder Fund VI PRIVATE EQUITY FUND  | CUSIP: N/A<br>LEI: N/A       | Long             | EC               |  | US        |   2850057 | NS      | $2581385.86   | 7.69%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-19

**Name of Applicant:** Wilshire Private Assets Master Fund

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

**Title:** Treasurer, Controller and Chief Financial Officer