When a player holds glass in their hand and goes into third-person camera view, any type of entity; including the player; will not render in behind the held glass. Water, some of the leaves on trees, chests, mobs, sugarcane, grass, fire, iron-bars and the sun, moon and sky colour do not show. Nether portal tiles don't load; however; end portal tiles do. The rendering of leaves is also extremely inconsistent. Some leaves on some trees will load, but some do not. The rendered leaves are also dark. It also appears to load in some of a chunk if the chunk is far away, but loads the entire chunk when the player gets closer. In on of the screenshots my player has clearly loaded chunks behind me in the End; but some of the chunk is not there. Glass panes, stained glass and stained glass panes have the same effect.

To re-create the bug just hold a piece of any type of glass (including panes) in your hand and go into third-person mode. Most entity types will not render through the glass.

I've included a bunch of screenshots below.