MASTER INVESTMENT TRUST
NSAR-B, 1998-05-27
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<PAGE>      PAGE  1
000 B000000 03/31/98
000 C000000 879530
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 MASTER INVESTMENT TRUST
001 B000000 811-6415
001 C000000 5013772521
002 A000000 111 CENTER STREET
002 B000000 LITTLE ROCK
002 C000000 AR
002 D010000 72201
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  9
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C020700 ASSET ALLOCATION MASTER
007 C030700 Y
007 C010800  8
007 C020800 CORPORATE STOCK MASTER
007 C030800 Y
007 C010900  9
007 C020900 US GOVERNMENT ALLOCATION MASTER
007 C030900 Y
007 C011000 10
015 A00AA01 BARCLAYS GLOBAL INVESTORS, N.A.
015 B00AA01 C
015 C01AA01 SAN FRANCISCO
015 C02AA01 CA
015 C03AA01 94105
015 E01AA01 X
020 A000001 BERNARD MADOFF INV
020 B000001 13-1997126
020 C000001      4
020 A000002 BEAR STEARNS SECURITIES CORP
020 B000002 13-3299429
020 C000002      2
020 A000003 SALOMON BROTHERS INC
<PAGE>      PAGE  2
020 B000003 13-3082694
020 C000003      2
020 A000004 NEUBERGER AND BERMAN
020 B000004 13-5521910
020 C000004      2
020 A000005 GOLDMAN SACHS
020 B000005 13-5108880
020 C000005      1
020 A000006 CHASE MANHATTAN BANK
020 B000006 UNKNOWN
020 C000006      1
020 A000007 SPEAR LEEDS & KELLOGG
020 B000007 13-5515160
020 C000007      1
020 A000008 BHF SECURITIES
020 B000008 UNKNOWN
020 C000008      1
020 A000009 MORGAN STANLEY
020 B000009 13-2655998
020 C000009      1
020 A000010 PORTFOLIO TRADING SERVICES
020 B000010 UNKNOWN
020 C000010      1
021  000000       18
022 A000001 MORGAN STANLEY & CO
022 B000001 94-1701676
022 C000001    275962
022 D000001    220331
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002    143836
022 D000002    236166
022 A000003 SALOMON BROTHERS INC
022 B000003 13-3082694
022 C000003    112063
022 D000003    216779
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004    123399
022 D000004     21336
022 A000005 MERILL LYNCH PIERCE
022 B000005 13-2761776
022 C000005     58883
022 D000005     40469
022 A000006 BERNARD MADOFF INV SEC
022 B000006 13-1997126
022 C000006      9229
022 D000006     17635
022 A000007 COUNTRY NATWEST
022 B000007 UNKNOWN
022 C000007     25278
<PAGE>      PAGE  3
022 D000007         0
022 A000008 WELLS FARGO BANK
022 B000008 UNKNOWN
022 C000008     10227
022 D000008      1463
022 A000009 CHASE MANHATTAN BANK
022 B000009 UNKNOWN
022 C000009      3339
022 D000009      2507
022 A000010 JP MORGAN
022 B000010 13-3224016
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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070 A010800 Y
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070 K020800 N
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<PAGE>      PAGE  9
070 M020800 N
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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SIGNATURE   ANN BONSTEEL                                 
TITLE       ASST.SECRETARY      
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 07
   <NAME> ASSET ALLOCATION MASTER PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 08
   <NAME> CORPORATE STOCK MASTER PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                               0
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<OVERDISTRIBUTION-NII>                               0
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<NET-ASSETS>                                         0
<DIVIDEND-INCOME>                                    0
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<EXPENSES-NET>                                       0
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<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 09
   <NAME> U.S. GOVERNMENT ALLOCATION MASTER PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
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<INVESTMENTS-AT-VALUE>                               0
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
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<OTHER-ITEMS-LIABILITIES>                            0
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