If you are not losing fluid, and you are not getting bubbles coming out of the bleeders, then you definitely have a defective master cylinder.
New or not, sometimes even a new part can be bad.
I installed a brand new clutch on my car once and the clutch ended up with a a jerky feel to it. After replacing just about every other clutch componet (master, slave, pedal bearings, actuating mechanism) I finally bought another new clutch and voila, problem solved.
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