If you use HD textures of 128X or above (I took screenshot with LB Photo Realism, if you want to test the bug, go to http://resourcepack.net/lb-photo-realism-resource-pack/ ) and 3D textures (I took other screenshot with Default 3D©, if you want to test the bug, go to http://www.planetminecraft.com/texture_pack/default-3d-2985741/ ), the item you are holding will become transparent (full sword for 3D and sides for HD Textures).
Environment
Minecraft Version: 1.8.2
Operating System: Mac OS X (x86_64) version 10.10.2
Java Version: 1.7.0_75, Oracle Corporation
Java VM Version: Java HotSpot(TM) 64-Bit Server VM (mixed mode), Oracle Corporation
JVM Flags: 5 total; -Xmx1G -XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:-UseAdaptiveSizePolicy -Xmn128M
IntCache: cache: 6, tcache: 68, allocated: 13, tallocated: 95
Launched Version: 1.8.1
LWJGL: 2.9.2
OpenGL: Intel HD Graphics 4000 OpenGL Engine GL version 2.1 INTEL-10.2.46, Intel Inc.
GL Caps: Using GL 1.3 multitexturing.
Using GL 1.3 texture combiners.
Using framebuffer objects because ARB_framebuffer_object is supported and separate blending is supported.
Shaders are available because OpenGL 2.1 is supported.
VBOs are available because OpenGL 1.5 is supported.
Using VBOs: No
Is Modded: Probably not. Jar signature remains and client brand is untouched.
Broken resource packs, see MC-70336