--- pym/gentoolkit/equery/list_.py	2012-12-20 12:43:22.000000000 +0100
+++ pym/gentoolkit/equery/list_.py	2014-10-18 21:38:42.585066366 +0200
@@ -226,11 +226,15 @@
 			if (QUERY_OPTS["in_porttree"] and
 				not QUERY_OPTS["in_overlay"]):
 				if not 'P' in pkgstr.location:
-					continue
+					if (QUERY_OPTS['in_installed'] and
+						not 'I' in pkgstr.location):
+						continue
 			if (QUERY_OPTS["in_overlay"] and
 				not QUERY_OPTS["in_porttree"]):
 				if not 'O' in pkgstr.location:
-					continue
+					if (QUERY_OPTS['in_installed'] and
+						not 'I' in pkgstr.location):
+						continue
 			pp.uprint(pkgstr)
 
 			if QUERY_OPTS["include_mask_reason"]: