Schedule of Investments  (unaudited)  March 31, 2020 iShares Russell 2000 Small-Cap Index Fund (Percentages shown are based on Net Assets)

Mutual Fund	Value
Master Small Cap Index Series of Quantitative Master Series LLC	$	1,643,418,066
Total Investments (Cost — $2,096,593,902) — 100.0%		1,643,418,066
Liabilities in Excess of Other Assets — (0.0)%		(270,948	)
Net Assets — 100.0%	$	1,643,147,118

iShares Russell 2000 Small-Cap Index Fund (the “Fund”) seeks to achieve its investment objective by investing all of its assets in Master Small Cap Index Series (the “Series”), which has the same investment objective and strategies as the Fund. As of March 31, 2020, the value of the investment and the percentage owned by the Fund of the Series was $1,643,418,066 and 66.8%, respectively.

The Fund records its investment in the Series at fair value. The Fund’s investment in the Series is valued pursuant to the pricing policies approved by the Board of Directors of the Series.

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments is based on the pricing transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments, refer to the Fund’s most recent financial statements as contained in its annual report.

Certain investments of the Fund were fair valued using net asset value per share or its equivalent as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

1

Schedule of Investments  (unaudited)  March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks — 97.8%
Advertising Agencies — 0.1%
Boston Omaha Corp., Class A(a)(b)		17,734	$	321,163
Cardlytics, Inc.(a)(b)		23,660		827,154
Clear Channel Outdoor Holdings, Inc.(a)		75,454		48,291
Emerald Holding, Inc.		64,654		167,454
Fluent, Inc.(a)		64,666		75,659
Marchex, Inc., Class B(a)		54,767		79,412
MDC Partners, Inc., Class A(a)		88,049		127,671
National CineMedia, Inc.		100,163		326,531
QuinStreet, Inc.(a)		75,111		604,643
Viad Corp.		33,159		703,966
				3,281,944
Aerospace — 1.0%
AAR Corp.		55,382		983,584
Aerojet Rocketdyne Holdings, Inc.(a)(b)		121,101		5,065,655
AeroVironment, Inc.(a)		36,037		2,196,816
Astronics Corp.(a)(b)		38,565		354,027
Axon Enterprise, Inc.(a)(b)		96,718		6,844,733
Cubic Corp.		51,920		2,144,815
Ducommun, Inc.(a)		17,370		431,644
Kaman Corp.		45,990		1,769,235
Kratos Defense & Security Solutions, Inc.(a)(b)		149,457		2,068,485
Moog, Inc., Class A		51,586		2,606,641
Triumph Group, Inc.		77,157		521,581
				24,987,216
Agriculture, Fishing & Ranching — 0.5%
Alico, Inc.		8,101		251,455
Andersons, Inc.		52,205		978,844
Cadiz, Inc.(a)(b)		20,453		238,686
Cal-Maine Foods, Inc.		52,323		2,301,165
Calavo Growers, Inc.		26,611		1,535,189
Fresh Del Monte Produce, Inc.(b)		50,801		1,402,616
Limoneira Co.		23,776		311,466
Sanderson Farms, Inc.		33,047		4,075,356
				11,094,777
Air Transport — 0.4%
Air Transport Services Group, Inc.(a)(b)		96,649		1,766,744
Allegiant Travel Co.		21,330		1,744,794
Atlas Air Worldwide Holdings, Inc.(a)(b)		38,654		992,248
Era Group, Inc.(a)		42,590		227,005
Hawaiian Holdings, Inc.		75,241		785,516
Mesa Air Group, Inc.(a)(b)		45,347		149,191
SkyWest, Inc.		81,639		2,138,125
Spirit Airlines, Inc.(a)		113,957		1,468,906
				9,272,529
Alternative Energy — 0.2%
Ameresco, Inc., Class A(a)(b)		37,675		641,605
Green Brick Partners, Inc.(a)(b)		37,548		302,262
Green Plains, Inc.		56,094		272,056

Security	Shares		Value
Alternative Energy (continued)
REX American Resources Corp.(a)(b)		10,486	$	487,704
Sunnova Energy International, Inc.(a)		52,716		530,850
TerraForm Power, Inc., Class A		130,816		2,062,968
Vivint Solar, Inc.(a)		71,189		311,096
				4,608,541
Aluminum — 0.1%
Century Aluminum Co.(a)(b)		81,498		295,023
Kaiser Aluminum Corp.		26,005		1,801,626
				2,096,649
Asset Management & Custodian — 0.9%
Ares Management Corp., Class A		118,792		3,674,237
Arlington Asset Investment Corp., Class A		57,878		126,753
Artisan Partners Asset Management, Inc., Class A		83,258		1,789,215
AssetMark Financial Holdings(b)		25,972		529,569
B. Riley Financial, Inc.		33,167		610,936
BrightSphere Investment Group PLC(a)		107,278		685,506
Cohen & Steers, Inc.		38,112		1,732,190
Cowen, Inc., Class A		46,029		444,640
Diamond Hill Investment Group, Inc.		5,185		467,894
Federated Hermes, Inc.		161,308		3,072,917
Focus Financial Partners, Inc., Class A(a)		51,134		1,176,593
GAMCO Investors, Inc., Class A(b)		7,838		86,140
Hamilton Lane, Inc., Class A		37,572		2,078,107
Oppenheimer Holdings, Inc., Class A		16,058		317,306
PJT Partners, Inc., Class A(b)		37,389		1,622,309
Pzena Investment Management, Inc., Class A		31,376		139,937
Sculptor Capital Management, Inc.		27,534		372,810
Silvercrest Asset Management Group, Inc., Class A		12,496		118,212
Virtus Investment Partners, Inc.		10,625		808,669
Waddell & Reed Financial, Inc., Class A		113,760		1,294,589
Westwood Holdings Group, Inc.		13,912		254,729
WisdomTree Investments, Inc.		215,802		502,819
				21,906,077
Auto Parts — 0.7%
Adient PLC(a)		145,564		1,320,266
American Axle & Manufacturing Holdings, Inc.(a)		185,669		670,265
Dana, Inc.		239,926		1,873,822
Dorman Products, Inc.(a)		45,220		2,499,309
Fox Factory Holding Corp.(a)		62,977		2,645,034
Gentherm, Inc.(a)		54,127		1,699,588
Meritor, Inc.(a)		117,313		1,554,397
Standard Motor Products, Inc.		34,546		1,436,077
Stoneridge, Inc.(a)		42,636		714,153
Tenneco, Inc., Class A		82,143		295,715

1

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Auto Parts (continued)
Visteon Corp.(a)(b)		46,356	$	2,224,161
				16,932,787
Auto Services — 0.1%
Cooper Tire & Rubber Co.		82,979		1,352,558
Back Office Support, HR & Consulting — 1.7%
ASGN, Inc.(a)		84,827		2,996,090
Barrett Business Services, Inc.		11,769		466,523
BG Staffing, Inc.		15,185		113,584
CBIZ, Inc.(a)		84,397		1,765,585
Conduent, Inc.(a)		285,445		699,340
CRA International, Inc.		12,435		415,453
DHI Group, Inc.(a)		80,180		173,189
Exela Technologies, Inc.(a)(b)		64,951		13,315
ExlService Holdings, Inc.(a)		55,569		2,891,255
Forrester Research, Inc.(a)		19,942		582,905
FTI Consulting, Inc.(a)(b)		61,727		7,393,043
GP Strategies Corp.(a)		19,286		125,552
Hackett Group, Inc.		39,655		504,412
Heidrick & Struggles International, Inc.		30,619		688,927
Huron Consulting Group, Inc.(a)		37,983		1,722,909
ICF International, Inc.		30,513		2,096,243
Insperity, Inc.		61,471		2,292,868
Kelly Services, Inc., Class A		53,968		684,854
Kforce, Inc.		33,854		865,647
Korn Ferry		92,049		2,238,632
Liquidity Services, Inc.(a)		47,987		186,189
MAXIMUS, Inc.		105,539		6,142,370
NV5 Global, Inc.(a)		16,727		690,658
PRGX Global, Inc.(a)(b)		30,221		84,619
Resources Connection, Inc.		49,547		543,530
StarTek, Inc.(a)		24,267		91,244
Sykes Enterprises, Inc.(a)		63,069		1,710,431
Target Hospitality Corp.(a)(b)		49,812		99,126
TriNet Group, Inc.(a)(b)		72,883		2,744,774
TrueBlue, Inc.(a)		63,541		810,783
TTEC Holdings, Inc.		30,041		1,103,105
				42,937,155
Banks: Diversified — 8.8%
1st Constitution Bancorp		15,643		207,270
1st Source Corp.		26,399		856,120
ACNB Corp.		13,727		411,810
Allegiance Bancshares, Inc.(b)		30,369		732,197
Amalgamated Bank, Class A		23,480		254,054
Ambac Financial Group, Inc.(a)		78,047		963,100
Amerant Bancorp, Inc.(a)(b)		31,832		489,894
American National Bankshares, Inc.		18,511		442,413
Ameris Bancorp		103,603		2,461,607
Ames National Corp.		15,056		307,895
Arrow Financial Corp.		22,485		626,657
Atlantic Capital Bancshares, Inc.(a)(b)		36,720		435,866
Atlantic Union Bankshares Corp.		134,193		2,938,827
BancFirst Corp.		33,187		1,107,450

Security	Shares		Value
Banks: Diversified (continued)
Banco Latinoamericano de Comercio Exterior SA		49,852	$	513,974
Bancorp, Inc.(a)		84,819		514,851
BancorpSouth Bank		166,986		3,159,375
Bank First Corp.(b)		9,581		536,536
Bank of Commerce Holdings		29,813		234,628
Bank of Marin Bancorp		23,269		698,070
Bank of NT Butterfield & Son Ltd.		90,733		1,545,183
Bank of Princeton(b)		9,690		225,292
Bank7 Corp.		5,814		46,163
Bankwell Financial Group, Inc.		11,527		175,902
Banner Corp.		50,809		1,678,729
Bar Harbor Bankshares		26,461		457,246
Baycom Corp.(a)(b)		18,197		219,274
BCB Bancorp, Inc.		25,937		276,229
Boston Private Financial Holdings, Inc.		108,995		779,314
Bridge Bancorp, Inc.		29,506		624,347
Bridgewater Bancshares, Inc.(a)		36,905		359,824
Bryn Mawr Bank Corp.		35,335		1,002,807
Business First Bancshares, Inc.		20,534		277,209
Byline Bancorp, Inc.		39,298		407,520
C&F Financial Corp.		5,703		227,550
Cadence BanCorp		189,433		1,240,786
Cambridge Bancorp		8,404		437,008
Camden National Corp.		26,555		835,155
Capital Bancorp, Inc.(a)(b)		12,793		160,168
Capital City Bank Group, Inc.(b)		27,687		557,062
Capitol Federal Financial, Inc.		222,673		2,585,234
Capstar Financial Holdings, Inc.		31,662		313,137
Carolina Financial Corp.		39,284		1,016,277
Carter Bank & Trust		37,508		344,323
Cathay General Bancorp		135,266		3,104,355
CBTX, Inc.		31,038		551,545
CenterState Bank Corp.		200,708		3,458,199
Central Pacific Financial Corp.		35,589		565,865
Central Valley Community Bancorp		20,040		261,322
Century Bancorp, Inc., Class A		4,972		309,457
Chemung Financial Corp.		6,300		207,774
Citizens & Northern Corp.		21,059		421,180
City Holding Co.		25,105		1,670,236
Civista Bancshares, Inc.		26,232		392,431
CNB Financial Corp.		24,439		461,164
Coastal Financial Corp.(a)(b)		12,097		127,139
Codorus Valley Bancorp, Inc.		16,462		265,038
Colony Bankcorp, Inc.		13,079		163,487
Columbia Banking System, Inc.		105,777		2,834,824
Columbia Financial, Inc.(a)(b)		86,684		1,248,250
Community Bank System, Inc.(b)		77,558		4,560,410
Community Bankers Trust Corp.		37,382		181,303
Community Financial Corp.		7,638		168,800
Community Trust Bancorp, Inc.		27,934		888,022
ConnectOne Bancorp, Inc.		56,815		763,594
CrossFirst Bankshares, Inc.(a)(b)		84,663		711,169
Customers Bancorp, Inc.(a)		45,831		500,933

2

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Banks: Diversified (continued)
CVB Financial Corp.		221,458	$	4,440,233
Eagle Bancorp, Inc.		49,855		1,506,120
Enterprise Bancorp, Inc.		14,791		399,209
Enterprise Financial Services Corp.(b)		41,907		1,169,624
Equity Bancshares, Inc., Class A(a)		28,412		490,107
Esquire Financial Holdings, Inc.(a)		11,357		170,923
Evans Bancorp, Inc.		8,023		195,039
Farmers & Merchants Bancorp, Inc./Archbold		16,779		434,744
Farmers National Banc Corp.		44,618		518,907
FB Financial Corp.		28,621		564,406
Fidelity D&D Bancorp, Inc.(b)		4,801		244,947
Financial Institutions, Inc.		27,327		495,712
First Bancorp, Inc.		18,201		400,422
First BanCorp, Puerto Rico		324,190		1,724,691
First Bancorp/Southern Pines NC		51,103		1,179,457
First Bancshares, Inc.		28,283		539,357
First Bank/Hamilton		28,303		196,423
First Busey Corp.		92,742		1,586,816
First Business Financial Services, Inc.		14,311		221,820
First Choice Bancorp		16,926		254,059
First Commonwealth Financial Corp.		146,135		1,335,674
First Community Bancshares, Inc.		32,087		747,627
First Financial Bancorp		148,184		2,209,423
First Financial Bankshares, Inc.		215,997		5,797,359
First Financial Corp.		24,612		829,917
First Foundation, Inc.		66,800		682,696
First Guaranty Bancshares, Inc.		8,000		115,440
First Internet Bancorp		19,886		326,528
First Interstate Bancsystem, Inc., Class A		63,796		1,839,877
First Merchants Corp.		91,866		2,433,530
First Mid Bancshares, Inc.		25,446		604,088
First Midwest Bancorp, Inc.		161,719		2,140,351
First Northwest Bancorp		15,452		167,963
First of Long Island Corp.		41,040		712,044
Flagstar Bancorp, Inc.(b)		57,982		1,149,783
FNCB Bancorp, Inc.		29,402		203,168
Franklin Financial Network, Inc.		21,558		439,568
Franklin Financial Services Corp.		7,291		200,138
FS Bancorp, Inc.		6,801		244,836
Fulton Financial Corp.		269,708		3,098,945
FVCBankcorp, Inc.(a)(b)		20,792		276,949
German American Bancorp, Inc.		43,511		1,194,377
Glacier Bancorp, Inc.		144,072		4,899,168
Great Western Bancorp, Inc.		80,467		1,647,964
Guaranty Bancshares, Inc.		13,874		321,044
Hancock Whitney Corp.		146,299		2,855,756
Hanmi Financial Corp.		35,695		387,291
HarborOne Bancorp, Inc.(a)(b)		45,047		339,204
Hawthorn Bancshares, Inc.		8,966		164,526
HBT Financial, Inc.		16,051		169,017
Heartland Financial USA, Inc.		59,838		1,807,108
Heritage Commerce Corp.		101,551		778,896

Security	Shares		Value
Banks: Diversified (continued)
Home BancShares, Inc.		264,517	$	3,171,559
Hope Bancorp, Inc.		182,868		1,503,175
Horizon Bancorp		64,116		632,184
Howard Bancorp, Inc.(a)		28,208		306,339
Iberiabank Corp.		89,060		3,220,410
Independent Bank Corp.		91,180		3,937,852
Independent Bank Group, Inc.		59,657		1,412,678
International Bancshares Corp.		93,494		2,513,119
Investar Holding Corp.		15,819		202,009
Lakeland Bancorp, Inc.		88,370		955,280
Lakeland Financial Corp.		41,967		1,542,287
LCNB Corp.		21,122		266,137
Level One Bancorp, Inc.		8,912		160,416
Live Oak Bancshares, Inc.(b)		47,515		592,512
Luther Burbank Corp.		33,170		304,169
Macatawa Bank Corp.		49,646		353,479
Mackinac Financial Corp.		16,516		172,592
MainStreet Bancshares, Inc.(a)(b)		11,141		186,723
Mercantile Bank Corp.		27,557		583,382
Merchants Bancorp		14,596		221,567
Metrocity Bankshares, Inc.		26,780		314,397
Metropolitan Bank Holding Corp.(a)		13,948		375,620
Mid Penn Bancorp, Inc.		11,675		236,419
Midland States Bancorp, Inc.		38,170		667,593
MVB Financial Corp.		16,436		209,559
National Bank Holdings Corp., Class A		45,195		1,080,160
National Bankshares, Inc.		10,664		340,182
NBT Bancorp, Inc.		63,747		2,064,765
Nicolet Bankshares, Inc.(a)(b)		16,949		925,076
Northeast Bank(a)		11,696		136,375
Northrim BanCorp, Inc.		11,374		307,098
Norwood Financial Corp.		9,898		264,277
Oak Valley Bancorp		11,873		186,881
OFG Bancorp		78,947		882,627
Ohio Valley Banc Corp.		7,057		211,569
Old National Bancorp		262,066		3,456,651
Old Second Bancorp, Inc.(b)		52,681		364,026
OP Bancorp		23,528		175,519
Opus Bank		38,052		659,441
Origin Bancorp, Inc.		32,809		664,382
Orrstown Financial Services, Inc.		16,902		232,741
Pacific Mercantile Bancorp(a)(b)		30,165		142,077
Pacific Premier Bancorp, Inc.		89,181		1,680,170
Park National Corp.		22,914		1,779,043
Parke Bancorp, Inc.		17,346		233,998
PCB Bancorp		21,468		209,957
PCSB Financial Corp.		26,941		376,905
Peapack Gladstone Financial Corp.(b)		30,566		548,660
Penns Woods Bancorp, Inc.		11,799		286,716
People’s Utah Bancorp		27,621		535,019
Peoples Bancorp of North Carolina, Inc.		8,219		167,339
Peoples Bancorp, Inc.		34,064		754,518
Peoples Financial Services Corp.		11,408		453,354
Pioneer Bancorp, Inc.(a)(b)		18,962		196,826

3

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Banks: Diversified (continued)
Preferred Bank		23,419	$	792,031
Premier Financial Bancorp, Inc.		22,297		276,483
Professional Holding Corp., Class A(a)		6,568		104,760
Provident Financial Services, Inc.		101,233		1,301,856
QCR Holdings, Inc.(b)		27,811		752,844
RBB Bancorp		27,697		380,003
Red River Bancshares, Inc.(b)		8,836		328,876
Reliant Bancorp Inc.		17,568		197,991
Renasant Corp.		95,467		2,084,999
Republic Bancorp, Inc., Class A		16,647		549,850
Republic First Bancorp, Inc.(a)		77,302		169,291
S&T Bancorp, Inc.		62,476		1,706,844
Sandy Spring Bancorp, Inc.		59,675		1,351,042
SB One Bancorp		17,864		303,688
Seacoast Banking Corp. of Florida(a)		78,415		1,435,779
Select Bancorp, Inc.(a)		35,448		270,468
ServisFirst Bancshares, Inc.		81,347		2,385,094
Shore Bancshares, Inc.		22,172		240,566
Sierra Bancorp		29,032		510,383
Silvergate Capital Corp., Class A(a)		6,690		63,823
Simmons First National Corp., Class A		158,111		2,909,242
SmartFinancial, Inc.		21,356		324,825
South Plains Financial, Inc.		19,967		309,289
South State Corp.		55,800		3,277,134
Southern First Bancshares, Inc.(a)		12,735		361,292
Southern National Bancorp of Virginia, Inc.		35,408		348,415
Southside Bancshares, Inc.		53,174		1,615,958
Spirit of Texas Bancshares, Inc.(a)(b)		21,878		226,218
Stock Yards Bancorp, Inc.		36,606		1,059,012
Summit Financial Group, Inc.		19,115		405,429
Tompkins Financial Corp.		24,085		1,729,303
TowneBank		115,951		2,097,554
Trico Bancshares		45,854		1,367,366
TriState Capital Holdings, Inc.(a)		50,317		486,565
Triumph Bancorp, Inc.(a)		37,540		976,040
TrustCo Bank Corp. NY		143,381		775,691
Trustmark Corp.		106,696		2,486,017
UMB Financial Corp.		74,712		3,465,143
Union Bankshares, Inc.		6,925		155,812
United Bankshares, Inc.		163,557		3,774,896
United Community Banks, Inc.		92,653		1,696,476
United Security Bancshares		24,184		154,778
Unity Bancorp, Inc.		12,337		144,343
Univest Financial Corp.		50,726		827,848
Valley National Bancorp		651,917		4,765,513
Veritex Holdings, Inc.		81,304		1,135,817
Washington Trust Bancorp, Inc.		28,233		1,032,198
WesBanco, Inc.		111,436		2,641,033
West BanCorp., Inc.		28,851		471,714

Security	Shares		Value
Banks: Diversified (continued)
Westamerica BanCorp		40,646	$	2,389,172
				216,328,674
Banks: Savings, Thrift & Mortgage Lending — 1.2%
Axos Financial, Inc.(a)(b)		98,745		1,790,247
Banc of California, Inc.		77,171		617,368
BankFinancial Corp.		23,860		210,207
Berkshire Hills Bancorp, Inc.		76,528		1,137,206
Brookline Bancorp, Inc.		105,892		1,194,462
Dime Community Bancshares, Inc.		52,131		714,716
ESSA Bancorp, Inc.		16,438		224,379
First Capital, Inc.		5,359		321,004
First Defiance Financial Corp.		61,921		912,716
First Financial Northwest, Inc.		12,137		121,855
Flushing Financial Corp.		46,316		618,782
Great Southern Bancorp, Inc.		22,549		910,980
Greene County Bancorp, Inc.		5,855		136,773
Heritage Financial Corp.		55,415		1,108,300
Hingham Institution for Savings		2,361		342,321
Home Bancorp, Inc.		13,038		318,388
HomeStreet, Inc.		29,845		663,454
Investors Bancorp, Inc.		381,051		3,044,597
Kearny Financial Corp.		131,099		1,126,140
Ladder Capital Corp.		171,146		811,232
Malvern Bancorp, Inc.(a)		13,058		159,960
Meridian Bancorp, Inc.(b)		81,718		916,876
MutualFirst Financial, Inc.		10,025		282,705
Northfield Bancorp, Inc.		73,920		827,165
Northwest Bancshares, Inc.		165,022		1,909,305
OceanFirst Financial Corp.		93,901		1,493,965
Ocwen Financial Corp.(a)(b)		227,231		113,616
Ponce de Leon Federal Bank(a)(b)		12,884		132,319
Provident Bancorp, Inc.(a)(b)		16,241		139,997
Provident Financial Holdings, Inc.		10,685		162,733
Prudential Bancorp, Inc.		14,298		211,610
Richmond Mutual BanCorp., Inc.(a)		23,457		239,261
Riverview Bancorp, Inc.		37,996		190,360
Southern Missouri Bancorp, Inc.		13,207		320,534
Sterling Bancorp, Inc.(b)		27,375		117,713
Territorial Bancorp, Inc.		13,705		336,458
Timberland Bancorp, Inc.		12,693		232,155
Washington Federal, Inc.		129,765		3,368,699
Waterstone Financial, Inc.		40,517		589,117
Western New England Bancorp, Inc.		40,665		274,895
WSFS Financial Corp.		86,008		2,143,319
				30,487,889
Beverage: Brewers & Distillers — 0.2%
Boston Beer Co., Inc., Class A(a)(b)		13,825		5,081,517
Craft Brew Alliance, Inc.(a)(b)		19,652		292,815
				5,374,332
Beverage: Soft Drinks — 0.1%
Celsius Holdings, Inc.(a)(b)		50,738		213,607
Coca-Cola Consolidated, Inc.		7,782		1,622,780

4

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Beverage: Soft Drinks (continued)
Farmer Bros Co.(a)		16,144	$	112,362
National Beverage Corp.(a)(b)		19,706		840,461
New Age Beverages Corp.(a)(b)		116,112		161,396
				2,950,606
Biotechnology — 8.9%
89bio, Inc.(a)		5,270		133,068
Acceleron Pharma, Inc.(a)		74,671		6,710,683
Acer Therapeutics, Inc.(a)(b)		12,789		25,450
Acorda Therapeutics, Inc.(a)		67,973		63,392
ADMA Biologics, Inc.(a)(b)		112,460		323,885
Aduro Biotech, Inc.(a)		104,794		287,136
Adverum Biotechnologies, Inc.(a)		104,810		1,023,994
Aeglea BioTherapeutics, Inc.(a)(b)		39,362		183,427
Affimed NV(a)(b)		127,442		201,358
Agenus, Inc.(a)		175,896		430,945
AgeX Therapeutics, Inc.(a)(b)		31,755		29,532
Aimmune Therapeutics, Inc.(a)		74,220		1,070,252
Akcea Therapeutics, Inc.(a)		21,118		301,987
Akebia Therapeutics, Inc.(a)(b)		194,398		1,473,537
Akero Therapeutics, Inc.(a)		13,389		283,847
Albireo Pharma, Inc.(a)(b)		20,717		339,137
Aldeyra Therapeutics, Inc.(a)		61,351		151,537
Alector, Inc.(a)		57,238		1,381,153
Allakos, Inc.(a)(b)		32,333		1,438,495
Allogene Therapeutics, Inc.(a)		64,469		1,253,277
AMAG Pharmaceuticals, Inc.(a)(b)		55,831		345,036
Amicus Therapeutics, Inc.(a)(b)		425,082		3,927,758
AnaptysBio, Inc.(a)(b)		39,917		564,027
Anavex Life Sciences Corp.(a)(b)		80,323		253,017
ANI Pharmaceuticals, Inc.(a)(b)		15,228		620,389
Apellis Pharmaceuticals, Inc.(a)		95,932		2,570,018
Applied Therapeutics, Inc.(a)(b)		13,117		428,795
Aprea Therapeutics, Inc.(a)(b)		10,771		374,400
Arcus Biosciences, Inc.(a)		53,784		746,522
Arcutis Biotherapeutics, Inc.(a)		16,793		500,431
Ardelyx, Inc.(a)		101,195		575,294
Arena Pharmaceuticals, Inc.(a)(b)		83,801		3,519,642
Arvinas Holding Co. LLC(a)		35,077		1,413,603
Assembly Biosciences, Inc.(a)		46,070		683,218
Atara Biotherapeutics, Inc.(a)(b)		85,570		728,201
Athenex, Inc.(a)(b)		112,697		872,275
Athersys, Inc.(a)(b)		218,282		654,846
Atreca, Inc., Class A(a)(b)		32,116		531,520
Avid Bioservices, Inc.(a)(b)		91,692		468,546
Avrobio, Inc.(a)(b)		37,924		590,097
Axcella Health, Inc.(a)(b)		9,720		33,242
Baudax Bio, Inc.(a)(b)		11,614		28,803
Beam Therapeutics, Inc.(a)		19,712		354,816
Beyondspring, Inc.(a)(b)		20,384		261,119
BioCryst Pharmaceuticals, Inc.(a)		257,344		514,688
BioDelivery Sciences International, Inc.(a)		135,154		512,234

Security	Shares		Value
Biotechnology (continued)
Biohaven Pharmaceutical Holding Co. Ltd.(a)(b)		71,621	$	2,437,263
BioTelemetry, Inc.(a)		54,408		2,095,252
Bioxcel Therapeutics, Inc.(a)		11,097		248,018
Black Diamond Therapeutics, Inc.(a)		20,244		505,088
Blueprint Medicines Corp.(a)		88,874		5,197,352
Bridgebio Pharma, Inc.(a)		124,114		3,599,306
Cabaletta Bio, Inc.(a)(b)		10,977		80,132
Calithera Biosciences, Inc.(a)		90,236		400,648
Calyxt, Inc.(a)(b)		13,922		46,360
CASI Pharmaceuticals, Inc.(a)		74,900		152,796
Castle Biosciences, Inc.(a)		15,252		454,662
Catalyst Pharmaceuticals, Inc.(a)(b)		156,595		602,891
CEL-SCI Corp.(a)(b)		53,324		615,359
Celcuity, Inc.(a)(b)		8,565		55,673
Cellular Biomedicine Group, Inc.(a)		20,306		321,241
Checkpoint Therapeutics, Inc.(a)(b)		55,870		84,364
ChemoCentryx, Inc.(a)		67,533		2,713,476
Chiasma, Inc.(a)(b)		58,739		214,397
Clovis Oncology, Inc.(a)(b)		81,624		519,129
Codexis, Inc.(a)		87,367		975,016
Coherus Biosciences, Inc.(a)		105,367		1,709,053
Collegium Pharmaceutical, Inc.(a)(b)		53,272		869,932
Constellation Pharmaceuticals, Inc.(a)(b)		31,324		984,513
Contra GTX, Inc.(b)(c)		944		1,935
Corbus Pharmaceuticals Holdings, Inc.(a)(b)		107,281		562,152
Cortexyme, Inc.(a)		18,568		846,886
Crinetics Pharmaceuticals, Inc.(a)(b)		18,501		271,965
Cue Biopharma, Inc.(a)(b)		32,535		461,672
Cyclerion Therapeutics, Inc.(a)		35,776		94,806
Cymabay Therapeutics, Inc.(a)		106,168		157,129
Cytokinetics, Inc.(a)(b)		91,762		1,081,874
CytomX Therapeutics, Inc.(a)		72,989		559,826
CytoSorbents Corp.(a)(b)		51,281		396,402
Deciphera Pharmaceuticals, Inc.(a)		34,742		1,430,328
Denali Therapeutics, Inc.(a)		86,493		1,514,492
Dynavax Technologies Corp.(a)		135,849		479,547
Editas Medicine, Inc.(a)		85,892		1,703,238
Eidos Therapeutics, Inc.(a)		19,819		970,933
Eiger Biopharmaceuticals, Inc.(a)(b)		39,406		267,961
Emergent Biosolutions, Inc.(a)(b)		75,564		4,372,133
Enochian Biosciences, Inc.(a)		26,154		78,462
Enzo Biochem, Inc.(a)(b)		67,446		170,638
Epizyme, Inc.(a)		128,755		1,996,990
Evelo Biosciences, Inc.(a)(b)		20,162		75,708
Evofem Biosciences, Inc.(a)		21,125		112,385
EyePoint Pharmaceuticals, Inc.(a)(b)		166,503		169,833
Fate Therapeutics, Inc.(a)		100,562		2,233,482
FibroGen, Inc.(a)(b)		130,202		4,524,519
Five Prime Therapeutics, Inc.(a)(b)		50,910		115,566
Forty Seven, Inc.(a)		41,911		3,999,148
Frequency Therapeutics, Inc.(a)		9,682		172,436

5

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Biotechnology (continued)
Fulcrum Therapeutics, Inc.(a)(b)		19,865	$	237,188
G1 Therapeutics, Inc.(a)(b)		56,379		621,297
Galera Therapeutics, Inc.(a)		2,077		19,732
GenMark Diagnostics, Inc.(a)(b)		91,211		375,789
Geron Corp.(a)(b)		296,802		353,194
Global Blood Therapeutics, Inc.(a)		96,111		4,910,311
GlycoMimetics, Inc.(a)		51,030		116,348
Gossamer Bio, Inc.(a)		71,183		722,507
Gritstone Oncology, Inc.(a)		41,904		243,881
Halozyme Therapeutics, Inc.(a)(b)		223,280		4,016,807
Harpoon Therapeutics, Inc.(a)		17,339		200,786
Heron Therapeutics, Inc.(a)(b)		139,892		1,642,332
Homology Medicines, Inc.(a)(b)		40,196		624,646
Hookipa Pharma, Inc.(a)		17,591		145,126
IGM Biosciences, Inc.(a)(b)		8,279		464,866
ImmunoGen, Inc.(a)		280,564		956,723
Immunomedics, Inc.(a)(b)		315,062		4,247,036
Inovio Pharmaceuticals, Inc.(a)(b)		157,878		1,174,612
Insmed, Inc.(a)		147,860		2,370,196
Intellia Therapeutics, Inc.(a)(b)		68,151		833,487
Intercept Pharmaceuticals, Inc.(a)(b)		41,789		2,631,035
Invitae Corp.(a)(b)		144,898		1,980,756
Iovance Biotherapeutics, Inc.(a)		194,266		5,815,353
Jounce Therapeutics, Inc.(a)		38,311		181,977
Kadmon Holdings, Inc.(a)		266,629		1,117,176
Kala Pharmaceuticals, Inc.(a)(b)		39,935		351,029
Kaleido Biosciences, Inc.(a)(b)		21,175		130,226
KalVista Pharmaceuticals, Inc.(a)		19,984		152,878
Karuna Therapeutics, Inc.(a)(b)		18,003		1,296,216
Karyopharm Therapeutics, Inc.(a)		98,667		1,895,393
Kezar Life Sciences, Inc.(a)		64,483		281,146
Kindred Biosciences, Inc.(a)		59,521		238,084
Kiniksa Pharmaceuticals Ltd., Class A(a)(b)		22,792		352,820
Kodiak Sciences, Inc.(a)		46,488		2,217,478
Krystal Biotech, Inc.(a)(b)		17,415		753,025
Kura Oncology, Inc.(a)(b)		56,746		564,623
Lexicon Pharmaceuticals, Inc.(a)(b)		62,527		121,928
Ligand Pharmaceuticals, Inc.(a)(b)		28,422		2,066,848
Lineage Cell Therapeutics, Inc.(b)		162,712		134,742
LogicBio Therapeutics, Inc.(a)(b)		12,342		60,969
MacroGenics, Inc.(a)		76,660		446,161
Madrigal Pharmaceuticals, Inc.(a)		14,765		985,711
Magenta Therapeutics, Inc.(a)(b)		32,370		203,284
MannKind Corp.(a)(b)		306,653		315,853
Marinus Pharmaceuticals, Inc.(a)(b)		133,417		270,837
Marker Therapeutics, Inc.(a)(b)		40,458		76,870
MediciNova, Inc.(a)		69,665		259,154
MeiraGTx Holdings PLC(a)(b)		28,137		378,161
Menlo Therapeutics, Inc.(a)		74,920		200,786
Mersana Therapeutics, Inc.(a)		57,447		334,916
Millendo Therapeutics, Inc.		20,419		107,812
Minerva Neurosciences, Inc.(a)		48,677		293,036
Mirati Therapeutics, Inc.(a)		49,315		3,790,844

Security	Shares		Value
Biotechnology (continued)
Mirum Pharmaceuticals, Inc.(a)		8,546	$	119,644
Molecular Templates, Inc.(a)(b)		32,969		438,158
Momenta Pharmaceuticals, Inc.(a)		188,139		5,117,381
Morphic Holding, Inc.(a)		22,254		326,689
Mustang Bio, Inc.(a)(b)		68,499		183,577
Myriad Genetics, Inc.(a)		118,148		1,690,698
Natera, Inc.(a)(b)		104,183		3,110,904
Neon Therapeutics, Inc.(a)(b)		21,282		56,184
NextCure, Inc.(a)		23,826		883,230
NGM Biopharmaceuticals, Inc.(a)		40,271		496,541
Novavax, Inc.(a)(b)		52,821		717,309
Odonate Therapeutics, Inc.(a)(b)		16,052		443,196
Omeros Corp.(a)(b)		85,068		1,137,359
Oncocyte Corp.(a)(b)		32,093		78,628
OPKO Health, Inc.(a)(b)		632,082		846,990
Oyster Point Pharma, Inc.(a)(b)		9,415		329,525
Pacific Biosciences of California, Inc.(a)(b)		237,683		727,310
Palatin Technologies, Inc.(a)(b)		367,748		155,778
PDL BioPharma, Inc.(a)		186,837		526,880
Personalis, Inc.(a)(b)		29,965		241,818
Pfenex, Inc.(a)(b)		48,805		430,460
PhaseBio Pharmaceuticals, Inc.(a)(b)		20,486		67,809
Phathom Pharmaceuticals, Inc.(a)(b)		17,612		454,742
Pieris Pharmaceuticals, Inc.(a)		70,119		159,871
Precigen, Inc.(a)(b)		117,934		400,976
Precision BioSciences, Inc.(a)(b)		60,632		365,611
Prevail Therapeutics, Inc.(a)		22,425		273,361
Principia Biopharma, Inc.(a)		31,166		1,850,637
Progenics Pharmaceuticals, Inc.(a)		140,477		533,813
Protagonist Therapeutics, Inc.(a)(b)		30,167		212,979
Prothena Corp. PLC(a)		66,669		713,358
PTC Therapeutics, Inc.(a)		100,177		4,468,896
Pulse Biosciences, Inc.(a)(b)		17,440		124,870
Puma Biotechnology, Inc.(a)(b)		49,585		418,497
Ra Pharmaceuticals, Inc.(a)		57,689		2,769,649
RadNet, Inc.(a)		68,986		725,043
Rapt Therapeutics, Inc.(a)		2,960		62,959
Recro Pharma, Inc.(a)(b)		31,978		261,260
REGENXBIO, Inc.(a)(b)		55,510		1,797,414
Repligen Corp.(a)		86,599		8,360,267
Replimune Group, Inc.(a)		21,427		213,627
resTORbio, Inc.(a)(b)		22,328		22,998
Retrophin, Inc.(a)		68,425		998,321
Revolution Medicines, Inc.(a)(b)		22,884		501,388
Rhythm Pharmaceuticals, Inc.(a)		48,965		745,247
Rigel Pharmaceuticals, Inc.(a)		271,933		424,215
Rocket Pharmaceuticals, Inc.(a)(b)		51,974		725,037
Rockwell Medical, Inc.(a)		106,485		218,294
RTI Surgical Holdings, Inc.(a)(b)		92,564		158,284
Rubius Therapeutics, Inc.(a)(b)		57,590		256,275
Sangamo Therapeutics, Inc.(a)(b)		189,263		1,205,605
Satsuma Pharmaceuticals, Inc.(a)(b)		7,679		165,252
Savara, Inc.(a)(b)		57,789		122,513

6

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Biotechnology (continued)
Scholar Rock Holding Corp.(a)(b)		28,887	$	349,822
Seres Therapeutics, Inc.(a)(b)		61,899		220,979
Solid Biosciences, Inc.(a)		58,032		138,696
Sorrento Therapeutics, Inc.(a)(b)		218,321		401,711
Spero Therapeutics, Inc.(a)(b)		21,972		177,534
SpringWorks Therapeutics, Inc.(a)(b)		17,222		464,994
Stemline Therapeutics, Inc.(a)(b)		74,116		358,721
Stoke Therapeutics, Inc.(a)		27,533		630,506
Strongbridge Biopharma PLC(a)		54,034		102,124
Sutro Biopharma, Inc.(a)		18,288		186,538
Syneos Health, Inc.(a)(b)		103,042		4,061,916
Synlogic, Inc.(a)(b)		23,429		40,298
Syros Pharmaceuticals, Inc.(a)(b)		57,690		342,102
TCR2 Therapeutics, Inc.(a)(b)		17,804		137,803
Tocagen, Inc.(a)(b)		31,275		38,156
Translate Bio, Inc.(a)		57,091		569,197
Tricida, Inc.(a)		36,012		792,264
Turning Point Therapeutics, Inc.(a)(b)		46,546		2,078,744
Twist Bioscience Corp.(a)(b)		43,318		1,324,664
Tyme Technologies, Inc.(a)(b)		98,792		108,671
UNITY Biotechnology, Inc.(a)(b)		45,242		262,404
UroGen Pharma Ltd.(a)(b)		34,016		606,845
Vanda Pharmaceuticals, Inc.(a)		85,779		888,670
VBI Vaccines, Inc.(a)(b)		259,776		246,787
Veracyte, Inc.(a)		77,499		1,884,001
Vericel Corp.(a)(b)		73,917		677,819
Verrica Pharmaceuticals, Inc.(a)		19,910		217,616
Viela Bio, Inc.(a)(b)		8,924		339,112
Viking Therapeutics, Inc.(a)		105,410		493,319
Vir Biotechnology, Inc.(a)(b)		11,848		406,031
X4 Pharmaceuticals, Inc.(a)(b)		24,590		245,900
XBiotech, Inc.(a)		21,897		232,546
Xencor, Inc.(a)		78,330		2,340,500
Xeris Pharmaceuticals, Inc.(a)(b)		57,046		111,240
Y-mAbs Therapeutics, Inc.(a)(b)		38,684		1,009,652
ZIOPHARM Oncology, Inc.(a)(b)		301,860		739,557
				218,231,753
Building Materials — 1.2%
Armstrong Flooring, Inc.(a)		25,819		36,921
BlueLinx Holdings, Inc.(a)(b)		26,123		129,309
Builders FirstSource, Inc.(a)		188,825		2,309,330
Caesarstone Ltd.		37,682		398,299
Cornerstone Building Brands, Inc.(a)		74,171		338,220
Gibraltar Industries, Inc.(a)		54,130		2,323,259
Griffon Corp.		60,529		765,692
Louisiana-Pacific Corp.		187,954		3,229,050
Masonite International Corp.(a)		41,584		1,973,161
Patrick Industries, Inc.		37,373		1,052,424
PGT Innovations, Inc.(a)		99,366		833,681
Quanex Building Products Corp.		53,130		535,550
Simpson Manufacturing Co., Inc.		74,107		4,593,152
Summit Materials, Inc., Class A(a)(b)		188,559		2,828,385

Security	Shares		Value
Building Materials (continued)
Trex Co., Inc.(a)(b)		97,319	$	7,799,144
				29,145,577
Building: Climate Control — 0.2%
AAON, Inc.		67,778		3,275,033
Comfort Systems USA, Inc.		60,153		2,198,592
				5,473,625
Building: Roofing, Wallboard & Plumbing — 0.1%
Beacon Roofing Supply, Inc.(a)		89,109		1,473,863
Forterra, Inc.(a)(b)		30,724		183,730
Foundation Building Materials, Inc.(a)(b)		34,225		352,175
JELD-WEN Holding, Inc.(a)(b)		112,200		1,091,706
				3,101,474
Cable Television Services — 0.1%
Liberty Latin America Ltd., Class A(a)(b)		74,340		782,057
Liberty Latin America Ltd., Class C(a)(b)		191,774		1,967,601
WideOpenWest, Inc.(a)		39,377		187,435
				2,937,093
Casinos & Gambling — 0.3%
Boyd Gaming Corp.		134,007		1,932,381
Century Casinos, Inc.(a)(b)		44,745		107,835
Eldorado Resorts, Inc.(a)		108,687		1,565,093
Inspired Entertainment, Inc.(a)(b)		13,208		44,643
Monarch Casino & Resort, Inc.(a)		20,938		587,730
Penn National Gaming, Inc.(a)		182,823		2,312,711
Scientific Games Corp., Class A(a)(b)		93,053		902,614
Twin River Worldwide Holdings, Inc.		28,929		376,366
				7,829,373
Cement — 0.0%
Concrete Pumping Holdings, Inc.(a)(b)		40,542		115,950
US Concrete, Inc.(a)		25,991		471,477
				587,427
Chemicals: Diversified — 0.6%
AdvanSix, Inc.(a)(b)		45,379		432,916
American Vanguard Corp.		46,929		678,593
CSW Industrials, Inc.		25,615		1,661,133
GCP Applied Technologies, Inc.(a)		92,316		1,643,225
Hawkins, Inc.		18,256		649,913
Ingevity Corp.(a)		69,899		2,460,445
Landec Corp.(a)(b)		40,785		354,422
LSB Industries, Inc.(a)		32,481		68,210
Marrone Bio Innovations, Inc.(a)(b)		74,453		60,821
OMNOVA Solutions, Inc.(a)		70,989		719,828
PolyOne Corp.		153,100		2,904,307
Rayonier Advanced Materials, Inc.		74,401		78,865

7

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Chemicals: Diversified (continued)
Sensient Technologies Corp.		70,346	$	3,060,754
				14,773,432
Chemicals: Specialty — 0.8%
A. Schulman, Inc.(c)		28,192		12,207
Advanced Emissions Solutions, Inc.		25,557		167,910
Amyris, Inc.(a)(b)		100,329		256,842
Balchem Corp.		53,342		5,265,922
FutureFuel Corp.		42,590		479,989
Innospec, Inc.		40,186		2,792,525
Kraton Corp.(a)(b)		50,976		412,906
Livent Corp.(a)(b)		243,735		1,279,609
Orion Engineered Carbons SA		100,081		746,604
Park Aerospace Corp.		30,993		390,512
PQ Group Holdings, Inc.(a)		67,280		733,352
Quaker Chemical Corp.(b)		21,711		2,741,665
Stepan Co.		33,911		2,999,767
Tronox Holdings PLC, Class A(a)		151,600		754,968
Valhi, Inc.		42,640		43,919
				19,078,697
Coal — 0.1%
Arch Coal, Inc., Class A		24,807		716,922
CONSOL Energy, Inc.(a)(b)		41,675		153,781
Contura Energy, Inc.(a)(b)		28,968		68,075
Hallador Energy Co.		30,352		28,801
Peabody Energy Corp.		109,233		316,776
Ramaco Resources, Inc.(a)		10,891		26,029
Warrior Met Coal, Inc.		83,181		883,382
				2,193,766
Commercial Banks — 0.0%
HomeTrust Bancshares, Inc.		25,769		410,242
Commercial Finance & Mortgage Companies — 0.2%
Federal Agricultural Mortgage Corp., Class C		14,929		830,500
Medallion Financial Corp.(a)		31,714		58,988
Meta Financial Group, Inc.(b)		55,817		1,212,345
MMA Capital Holdings, Inc.(a)		7,816		193,290
On Deck Capital, Inc.(a)(b)		101,310		156,017
PennyMac Financial Services, Inc.(f)		3,162		69,912
RE/MAX Holdings, Inc., Class A		29,831		653,896
Velocity Financial, Inc.(a)(b)		19,699		148,333
Walker & Dunlop, Inc.		46,243		1,862,206
				5,185,487
Commercial Services & Supplies — 0.1%
Collectors Universe, Inc.		15,416		241,569
Information Services Group, Inc.(a)		60,206		154,729
National Research Corp., Class A		19,831		901,914
				1,298,212
Commercial Services: Rental & Leasing — 0.8%
CAI International, Inc.(a)		26,530		375,134

Security	Shares		Value
Commercial Services: Rental & Leasing (continued)
GATX Corp.		57,937	$	3,624,539
GMS, Inc.(a)		69,670		1,095,909
H&E Equipment Services, Inc.		56,219		825,295
Herc Holdings, Inc.(a)		39,288		803,833
Marlin Business Services Corp.		13,753		153,621
McGrath RentCorp		40,743		2,134,118
Mobile Mini, Inc.		72,701		1,906,947
NOW, Inc.(a)(b)		176,232		909,357
Rush Enterprises, Inc., Class B		6,485		197,857
SiteOne Landscape Supply, Inc.(a)(b)		67,749		4,987,682
Triton International Ltd.		89,493		2,315,184
Willis Lease Finance Corp.(a)		4,940		131,404
WillScot Corp.(a)		86,217		873,378
				20,334,258
Commercial Vehicles & Parts — 0.3%
Blue Bird Corp.(a)		24,212		264,637
Commercial Vehicle Group, Inc.(a)		47,027		71,011
Cooper-Standard Holdings, Inc.(a)		27,653		283,996
Miller Industries, Inc.		18,114		512,264
Modine Manufacturing Co.(a)		80,864		262,808
Motorcar Parts of America, Inc.(a)(b)		30,641		385,464
Navistar International Corp.(a)(b)		82,421		1,359,122
REV Group, Inc.		59,293		247,252
Rush Enterprises, Inc., Class A(b)		45,505		1,452,520
Spartan Motors, Inc.(b)		55,338		714,414
Wabash National Corp.		85,847		619,815
				6,173,303
Communications Technology — 1.3%
ADTRAN, Inc.		77,478		595,031
Anixter International, Inc.(a)		50,523		4,439,456
Anterix, Inc.(b)		18,124		827,723
Avaya Holdings Corp.(a)(b)		158,518		1,282,411
Bandwidth, Inc., Class A(a)(b)		27,352		1,840,516
Bel Fuse, Inc., Class B		14,803		144,181
Calix, Inc.(a)		75,709		536,020
Casa Systems, Inc.(a)		68,289		239,011
Comtech Telecommunications Corp.		38,528		512,037
DASAN Zhone Solutions, Inc.(a)(b)		11,498		48,177
Digi International, Inc.(a)		52,936		505,009
Extreme Networks, Inc.(a)		192,258		594,077
GSI Technology, Inc.(a)(b)		24,864		173,053
Harmonic, Inc.(a)(b)		145,984		840,868
Infinera Corp.(a)(b)		303,619		1,609,181
Inseego Corp.(a)		74,018		461,132
Intelsat SA(a)(b)		112,083		171,487
InterDigital, Inc.		51,865		2,314,735
KVH Industries, Inc.(a)		27,118		255,723
Loral Space & Communications, Inc.(a)		20,856		338,910
Lumentum Holdings, Inc.(a)		124,010		9,139,537
Maxar Technologies, Inc.(a)		102,935		1,099,346
NeoPhotonics Corp.(a)		64,901		470,532
NETGEAR, Inc.(a)(b)		49,352		1,127,200

8

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Communications Technology (continued)
Ooma, Inc.(a)		38,535	$	459,722
Pareteum Corp.(a)(b)		217,258		89,510
Plantronics, Inc.		56,593		569,326
Ribbon Communications, Inc.(a)		102,752		311,339
Telenav, Inc.(a)(b)		55,325		239,004
				31,234,254
Computer Services Software & Systems — 6.4%
A10 Networks, Inc.(a)(b)		85,422		530,471
ACI Worldwide, Inc.(a)(b)		190,727		4,606,057
Alarm.com Holdings, Inc.(a)		61,037		2,374,950
Altair Engineering, Inc., Class A(a)(b)		66,290		1,756,685
American Software, Inc., Class A		48,228		685,320
Appfolio, Inc., Class A(a)(b)		25,939		2,877,932
Appian Corp.(a)(b)		57,279		2,304,334
Avid Technology, Inc.(a)(b)		47,757		321,405
Benefitfocus, Inc.(a)(b)		48,036		428,001
Blackbaud, Inc.(b)		81,206		4,510,993
Blackline, Inc.(a)(b)		71,782		3,776,451
Blucora, Inc.(a)		81,085		977,074
Bottomline Technologies DE, Inc.(a)		71,932		2,636,308
Box, Inc., Class A(a)		243,010		3,411,860
Brightcove, Inc.(a)(b)		65,201		454,451
Cargurus, Inc.(a)(b)		126,172		2,389,698
Cloudera, Inc.(a)(b)		412,014		3,242,550
CommVault Systems, Inc.(a)(b)		70,486		2,853,273
ComScore, Inc.(a)(b)		84,033		236,973
Cornerstone OnDemand, Inc.(a)		95,142		3,020,758
CSG Systems International, Inc.		54,412		2,277,142
Digimarc Corp.(a)(b)		19,450		253,823
Digital Turbine, Inc.(a)		127,294		548,637
Domo, Inc., Class B(a)(b)		30,276		300,943
Ebix, Inc.(b)		39,046		592,718
Endurance International Group Holdings, Inc.(a)		117,772		227,300
Envestnet, Inc.(a)(b)		80,001		4,302,454
ePlus, Inc.(a)		21,856		1,368,623
Eventbrite, Inc., Class A(a)		59,106		431,474
Everbridge, Inc.(a)(b)		55,086		5,858,947
EverQuote, Inc., Class A(a)		14,495		380,494
Evolent Health, Inc., Class A(a)		123,344		669,758
ForeScout Technologies, Inc.(a)(b)		71,770		2,267,214
Groupon, Inc.(a)		753,835		738,909
GTY Technology Holdings, Inc.(a)		65,280		295,066
Ideanomics, Inc.(a)		163,721		219,386
Inovalon Holdings, Inc., Class A(a)(b)		120,117		2,001,149
Intelligent Systems Corp.(a)(b)		10,835		368,282
Leaf Group Ltd.(a)		25,791		34,560
Limelight Networks, Inc.(a)(b)		192,560		1,097,592
LivePerson, Inc.(a)(b)		102,982		2,342,840
LiveRamp Holdings, Inc.(a)(b)		111,896		3,683,616
Majesco(a)		11,110		60,661
ManTech International Corp., Class A		44,737		3,251,038
Meet Group, Inc.(a)(b)		110,011		645,765

Security	Shares		Value
Computer Services Software & Systems (continued)
Mercury Systems, Inc.(a)(b)		89,863	$	6,410,826
MicroStrategy, Inc., Class A(a)		13,575		1,603,208
Mitek Systems, Inc.(a)		36,057		284,129
NetScout Systems, Inc.(a)		117,527		2,781,864
NIC, Inc.		110,469		2,540,787
OneSpan, Inc.(a)		57,392		1,041,665
PAR Technology Corp.(a)		19,023		244,636
Parsons Corp.(a)		32,244		1,030,518
PDF Solutions, Inc.(a)		46,156		540,948
Perficient, Inc.(a)		52,793		1,430,162
Perspecta, Inc.		231,767		4,227,430
Phunware, Inc.(a)		46,302		31,254
Ping Identity Holding Corp.(a)		22,781		456,076
Progress Software Corp.		74,736		2,391,552
PROS Holdings, Inc.(a)		56,504		1,753,319
Q2 Holdings, Inc.(a)		72,372		4,274,290
QAD, Inc., Class A		19,211		767,095
Rapid7, Inc.(a)		81,745		3,542,011
Rimini Street, Inc.(a)		29,448		120,442
SailPoint Technologies Holding, Inc.(a)(b)		144,150		2,193,963
Schrodinger, Inc.(a)(b)		24,280		1,046,954
Science Applications International Corp.		95,819		7,150,972
SecureWorks Corp., Class A(a)(b)		12,735		146,580
SharpSpring, Inc.(a)(b)		15,791		95,693
ShotSpotter, Inc.(a)		13,316		365,924
Shutterstock, Inc.		31,932		1,026,933
Simulations Plus, Inc.		19,515		681,464
Sprout Social, Inc., Class A(a)		15,378		245,433
SPS Commerce, Inc.(a)		57,971		2,696,231
SVMK, Inc.(a)		146,541		1,979,769
Synchronoss Technologies, Inc.(a)(b)		64,512		196,762
TechTarget, Inc.(a)		38,217		787,652
Telaria, Inc.(a)(b)		74,988		449,928
Tenable Holdings, Inc.(a)(b)		62,579		1,367,977
TiVo Corp.(b)		206,733		1,463,670
Travelzoo(a)		7,629		29,982
Tucows, Inc., Class A(a)		16,872		814,243
Unisys Corp.(a)		78,964		975,205
Upland Software, Inc.(a)(b)		37,665		1,010,175
Upwork, Inc.(a)(b)		96,019		619,323
Varonis Systems, Inc.(a)(b)		49,954		3,180,571
Verint Systems, Inc.(a)(b)		110,122		4,735,246
Verra Mobility Corp.(a)		216,883		1,548,545
VirnetX Holding Corp.(a)(b)		101,386		554,581
Virtusa Corp.(a)(b)		47,646		1,353,146
Workiva, Inc.(a)		60,979		1,971,451
Yelp, Inc.(a)		114,379		2,062,253
Yext, Inc.(a)(b)		163,382		1,664,863
Zix Corp.(a)(b)		86,360		372,212

9

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Computer Services Software & Systems (continued)
Zuora, Inc., Class A(a)		145,563	$	1,171,782
				157,045,630
Computer Technology — 0.4%
3D Systems Corp.(a)(b)		190,993		1,472,556
AstroNova, Inc.		10,458		81,154
Diebold Nixdorf, Inc.(a)		124,225		437,272
Immersion Corp.(a)(b)		49,155		263,471
Impinj, Inc.(a)		27,541		460,210
Insight Enterprises, Inc.(a)(b)		58,776		2,476,233
PC Connection, Inc.		20,202		832,524
Safeguard Scientifics, Inc.		31,399		174,264
Stratasys Ltd.(a)		85,325		1,360,934
Synaptics, Inc.(a)		57,093		3,303,972
				10,862,590
Construction — 0.5%
Aegion Corp.(a)(b)		49,279		883,572
Construction Partners, Inc., Class A(a)		31,079		524,924
EMCOR Group, Inc.		92,398		5,665,845
Granite Construction, Inc.		78,177		1,186,727
Great Lakes Dredge & Dock Corp.(a)		98,553		817,990
Primoris Services Corp.		72,902		1,159,142
Sterling Construction Co., Inc.(a)(b)		42,389		402,696
Tutor Perini Corp.(a)(b)		64,754		435,147
				11,076,043
Consumer Electronics — 0.2%
Fitbit, Inc., Series A(a)(b)		388,085		2,584,646
Sonos, Inc.(a)(b)		132,572		1,124,210
Universal Electronics, Inc.(a)(b)		23,610		905,916
ZAGG, Inc.(a)(b)		47,128		146,568
				4,761,340
Consumer Lending — 0.5%
Curo Group Holdings Corp.		26,324		139,517
Elevate Credit, Inc.(a)(b)		36,127		37,572
Encore Capital Group, Inc.(a)		52,728		1,232,781
Enova International, Inc.(a)(b)		52,470		760,290
Ezcorp, Inc., Class A(a)(b)		85,294		355,676
FirstCash, Inc.(b)		68,604		4,921,651
Marcus & Millichap, Inc.(a)		39,747		1,077,144
Nelnet, Inc., Class A		30,554		1,387,457
Oportun Financial Corp.(a)(b)		11,594		122,317
PRA Group, Inc.(a)(b)		74,730		2,071,516
Regional Management Corp.(a)		14,161		193,439
World Acceptance Corp.(a)		9,155		499,954
				12,799,314
Consumer Services: Miscellaneous — 0.2%
Cars.com, Inc.(a)		108,635		467,131
Chuy’s Holdings, Inc.(a)(b)		27,191		273,813
Core-Mark Holding Co., Inc.		75,061		2,144,493
Waitr Holdings, Inc.(a)		96,783		119,043

Security	Shares		Value
Consumer Services: Miscellaneous (continued)
WW International, Inc.(a)(b)		76,973	$	1,301,613
				4,306,093
Containers & Packaging — 0.1%
Greif, Inc., Class A		42,707		1,327,761
Greif, Inc., Class B		9,682		387,861
Myers Industries, Inc.		63,571		683,388
UFP Technologies, Inc.(a)		11,366		432,931
Veritiv Corp.(a)		21,591		169,705
				3,001,646
Cosmetics — 0.1%
elf Beauty, Inc.(a)		42,700		420,168
Inter Parfums, Inc.		30,254		1,402,273
Revlon, Inc., Class A(a)(b)		10,960		119,793
				1,942,234
Diversified Financial Services — 0.8%
Alerus Financial Corp.		5,851		96,658
Altisource Portfolio Solutions SA(a)		8,939		68,562
Associated Capital Group, Inc., Class A		3,113		95,258
Cannae Holdings, Inc.(a)		122,343		4,097,267
Greenhill & Co., Inc.(b)		25,163		247,604
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		104,933		2,141,683
Houlihan Lokey, Inc.		70,767		3,688,376
MBIA, Inc.(a)		128,495		917,454
MidWestOne Financial Group, Inc.		20,758		434,672
Moelis & Co., Class A		79,956		2,246,764
Piper Sandler Cos		22,176		1,121,440
Stifel Financial Corp.		110,907		4,578,241
Tiptree, Inc.		40,194		209,813
				19,943,792
Diversified Manufacturing Operations — 0.6%
Barnes Group, Inc.(b)		78,156		3,269,266
Enerpac Tool Group Corp.(b)		91,517		1,514,606
Federal Signal Corp.		99,688		2,719,489
Harsco Corp.(a)(b)		129,418		902,044
Luxfer Holdings PLC		44,837		633,995
Lydall, Inc.(a)		28,753		185,744
OSI Systems, Inc.(a)		27,823		1,917,561
Raven Industries, Inc.		59,074		1,254,141
Standex International Corp.		21,467		1,052,312
TriMas Corp.(a)		73,969		1,708,684
				15,157,842
Diversified Materials & Processing — 0.4%
Belden, Inc.(b)		64,704		2,334,520
Cabot Microelectronics Corp.		47,978		5,476,209
Encore Wire Corp.		33,484		1,405,993
Energous Corp.(a)(b)		41,531		30,858
Insteel Industries, Inc.		29,997		397,460
Koppers Holdings, Inc.(a)		30,470		376,914
NL Industries, Inc.		9,941		29,624

10

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Diversified Materials & Processing (continued)
Synalloy Corp.(a)		14,455	$	126,192
Tredegar Corp.		42,104		658,086
Uranium Energy Corp.(a)(b)		312,544		175,025
				11,010,881
Diversified Media — 0.0%
EW Scripps Co., Class A		95,930		723,312
Hemisphere Media Group, Inc.(a)(b)		25,247		215,610
				938,922
Diversified Retail — 0.4%
Big Lots, Inc.		65,186		926,945
BJ’s Wholesale Club Holdings, Inc.(a)(b)		184,964		4,711,033
Dillard’s, Inc., Class A(b)		16,152		596,816
Duluth Holdings, Inc., Class B(a)(b)		16,032		64,288
Gaia, Inc.(a)(b)		16,011		142,178
Hudson Ltd., Class A(a)(b)		64,021		321,386
JC Penney Co., Inc.(a)(b)		533,459		192,045
PriceSmart, Inc.		37,188		1,954,229
Stitch Fix, Inc., Class A(a)(b)		72,850		925,195
Winmark Corp.		3,840		489,293
Youngevity International, Inc.(a)		12,324		8,627
				10,332,035
Drug & Grocery Store Chains — 0.2%
Ingles Markets, Inc., Class A		25,187		910,762
PetMed Express, Inc.		32,514		935,753
Rite Aid Corp.(a)		91,663		1,374,945
Village Super Market, Inc., Class A		13,373		328,708
Weis Markets, Inc.		15,506		645,980
				4,196,148
Education Services — 0.9%
Adtalem Global Education, Inc.(a)		87,839		2,353,207
American Public Education, Inc.(a)		25,183		602,629
Chegg, Inc.(a)		196,214		7,020,537
Franklin Covey Co.(a)		16,351		254,094
HealthStream, Inc.(a)		42,758		1,024,054
Houghton Mifflin Harcourt Co.(a)(b)		168,414		316,618
K12, Inc.(a)(b)		65,171		1,229,125
Laureate Education, Inc., Class A(a)		190,564		2,002,828
Perdoceo Education Corp.(a)(b)		113,606		1,225,809
Rosetta Stone, Inc.(a)(b)		33,771		473,469
Strategic Education, Inc.		35,293		4,932,550
				21,434,920
Electronic Components — 1.0%
Acacia Research Corp.(a)		15,133		33,595
American Superconductor Corp.(a)(b)		37,058		203,078
KEMET Corp.		95,655		2,311,025
Methode Electronics, Inc.		62,071		1,640,537
Novanta, Inc.(a)		55,551		4,437,414
NVE Corp.		9,238		480,653
Rogers Corp.(a)(b)		30,706		2,899,261

Security	Shares		Value
Electronic Components (continued)
Sanmina Corp.(a)(b)		113,654	$	3,100,481
ScanSource, Inc.(a)		41,439		886,380
Tech Data Corp.(a)		58,811		7,695,419
TTM Technologies, Inc.(a)		163,682		1,692,472
				25,380,315
Electronic Entertainment — 0.1%
Glu Mobile, Inc.(a)		192,326		1,209,730
PlayAGS, Inc.(a)		44,145		116,984
PolarityTE, Inc.(a)		44,132		47,663
				1,374,377
Electronics — 0.5%
Agilysys, Inc.(a)(b)		34,408		574,614
Coda Octopus Group, Inc.(a)(b)		11,217		62,927
Daktronics, Inc.		60,802		299,754
II-VI, Inc.(a)		149,725		4,267,163
Integer Holdings Corp.(a)		53,897		3,387,965
iRobot Corp.(a)(b)		46,078		1,884,590
Iteris, Inc.(a)(b)		62,088		198,682
nLight, Inc.(a)(b)		53,453		560,722
				11,236,417
Energy Equipment — 0.5%
Arcosa, Inc.		80,474		3,198,037
Bloom Energy Corp., Class A(a)(b)		89,116		466,076
Enphase Energy, Inc.(a)(b)		152,296		4,917,638
Matador Resources Co.(a)(b)		179,682		445,611
SunPower Corp.(a)(b)		124,383		630,622
Sunrun, Inc.(a)		190,670		1,925,767
TPI Composites, Inc.(a)(b)		51,141		755,864
				12,339,615
Energy Equipment & Services — 0.0%
Geospace Technologies Corp.(a)(b)		20,499		131,194
Engineering & Contracting Services — 1.0%
Argan, Inc.		24,425		844,372
Dycom Industries, Inc.(a)		51,667		1,325,259
Exponent, Inc.		85,624		6,157,222
IES Holdings, Inc.(a)(b)		13,627		240,517
KBR, Inc.		234,713		4,853,865
MasTec, Inc.(a)		100,204		3,279,677
Mistras Group, Inc.(a)		27,467		117,009
MYR Group, Inc.(a)		25,929		679,080
Tetra Tech, Inc.		90,357		6,381,011
VSE Corp.		14,607		239,409
Willdan Group, Inc.(a)(b)		16,480		352,178
				24,469,599
Entertainment — 0.1%
AMC Entertainment Holdings, Inc., Class A(b)		84,176		265,996
Golden Entertainment, Inc.(a)		27,635		182,667
IMAX Corp.(a)		87,620		792,961

11

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Entertainment (continued)
LiveXLive Media, Inc.(a)(b)		47,090	$	74,402
Reading International, Inc., Class A(a)(b)		25,513		99,246
				1,415,272
Environmental, Maintenance, & Security Service — 0.9%
ABM Industries, Inc.		112,143		2,731,804
BrightView Holdings, Inc.(a)(b)		50,690		560,631
Brink’s Co.		82,782		4,308,803
Charah Solutions, Inc.(a)(b)		12,674		21,673
Healthcare Services Group, Inc.		124,687		2,981,266
MSA Safety, Inc.		58,500		5,920,200
SP Plus Corp.(a)		37,668		781,611
UniFirst Corp.(b)		25,058		3,786,013
				21,092,001
Fertilizers — 0.0%
Intrepid Potash, Inc.(a)(b)		146,366		117,093
Financial Data & Systems — 0.4%
Cardtronics PLC, Class A(a)(b)		61,113		1,278,484
Cass Information Systems, Inc.		23,166		814,517
Donnelley Financial Solutions, Inc.(a)		51,452		271,152
Everi Holdings, Inc.(a)(b)		129,047		425,855
EVERTEC, Inc.		100,150		2,276,410
Evo Payments, Inc., Class A(a)		66,448		1,016,655
Green Dot Corp., Class A(a)(b)		79,534		2,019,368
I3 Verticals, Inc., Class A(a)		24,393		465,662
International Money Express, Inc.(a)(b)		29,703		271,188
LendingClub Corp.(a)		111,040		871,664
Paysign, Inc.(b)		50,221		259,140
Priority Technology Holdings, Inc.(a)(b)		9,786		18,985
Value Line, Inc.		1,578		51,048
				10,040,128
Food & Staples Retailing — 0.0%
Natural Grocers by Vitamin Cottage, Inc.		13,345		113,566
Foods — 1.2%
B&G Foods, Inc.(b)		107,593		1,946,357
BellRing Brands, Inc., Class A(a)		65,283		1,113,075
Bridgford Foods Corp.(a)(b)		2,585		59,636
Chefs’ Warehouse, Inc.(a)(b)		39,428		397,040
Freshpet, Inc.(a)		57,332		3,661,795
HF Foods Group, Inc.(a)		34,818		292,123
Hostess Brands, Inc.(a)(b)		202,764		2,161,464
J&J Snack Foods Corp.		25,072		3,033,712
John B Sanfilippo & Son, Inc.		14,180		1,267,692
Lancaster Colony Corp.		31,247		4,519,566
Medifast, Inc.		18,242		1,140,125
Nature’s Sunshine Products, Inc.(a)		12,706		103,300
Performance Food Group Co.(a)		190,231		4,702,510
Seneca Foods Corp., Class A(a)		10,989		437,143
Simply Good Foods Co.(a)		136,616		2,631,224
SpartanNash Co.		63,558		910,151

Security	Shares		Value
Foods (continued)
Tootsie Roll Industries, Inc.		28,211	$	1,014,459
United Natural Foods, Inc.(a)		88,764		814,854
				30,206,226
Forest Products — 0.2%
Boise Cascade Co.(b)		66,330		1,577,327
Universal Forest Products, Inc.		98,513		3,663,699
				5,241,026
Forms & Bulk Printing Services — 0.1%
Deluxe Corp.		70,180		1,819,767
Ennis, Inc.		42,407		796,403
InnerWorkings, Inc.(a)(b)		67,993		79,552
Quad/Graphics, Inc.		51,505		129,793
RR Donnelley & Sons Co.		108,819		104,303
				2,929,818
Fruit & Grain Processing — 0.0%
MGP Ingredients, Inc.(b)		21,326		573,456
Funeral Parlors & Cemeteries — 0.2%
Carriage Services, Inc.		26,969		435,549
Hillenbrand, Inc.		121,651		2,324,751
Matthews International Corp., Class A		50,485		1,221,232
				3,981,532
Gas Pipeline — 0.0%
Altus Midstream Co., Class A(a)(b)		75,216		56,412
NextDecade Corp.(a)		17,065		32,082
				88,494
Glass — 0.0%
Apogee Enterprises, Inc.		43,337		902,276
Gold — 0.2%
Coeur Mining, Inc.(a)(b)		394,712		1,267,025
Gold Resource Corp.		98,445		270,724
Novagold Resources, Inc.(a)(b)		386,202		2,850,171
				4,387,920
Health Care Equipment & Supplies — 0.1%
Inogen, Inc.(a)		30,907		1,596,656
Health Care Facilities — 0.6%
Apollo Medical Holdings, Inc.(a)		13,273		171,487
Brookdale Senior Living, Inc.(a)		305,265		952,427
Ensign Group, Inc.		83,871		3,154,388
Genesis Healthcare, Inc.(a)(b)		126,184		106,323
Hanger, Inc.(a)		59,772		931,248
Joint Corp.(a)(b)		20,432		221,687
National HealthCare Corp.		20,888		1,498,296
Select Medical Holdings Corp.(a)		182,291		2,734,365
Tenet Healthcare Corp.(a)		170,914		2,461,162

12

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Health Care Facilities (continued)
U.S. Physical Therapy, Inc.		20,947	$	1,445,343
				13,676,726
Health Care Management Services — 0.2%
1Life Healthcare, Inc.(a)		31,133		565,064
Computer Programs & Systems, Inc.		20,333		452,409
Magellan Health, Inc.(a)		36,109		1,737,204
Option Care Health, Inc.(a)(b)		49,750		471,133
Progyny, Inc.(a)(b)		19,196		406,763
Triple-S Management Corp., Class B(a)		37,598		530,132
				4,162,705
Health Care Services — 3.4%
Accelerate Diagnostics, Inc.(a)(b)		44,393		369,794
Addus HomeCare Corp.(a)(b)		20,618		1,393,777
Allscripts Healthcare Solutions, Inc.(a)(b)		268,045		1,887,037
Amedisys, Inc.(a)		51,973		9,539,124
AMN Healthcare Services, Inc.(a)		76,421		4,417,898
Cara Therapeutics, Inc.(a)(b)		65,975		871,530
Catasys, Inc.(a)(b)		11,039		168,124
CorVel Corp.(a)		14,327		780,965
Cross Country Healthcare, Inc.(a)		58,656		395,341
Flexion Therapeutics, Inc.(a)(b)		54,132		426,019
Globus Medical, Inc., Class A(a)		125,951		5,356,696
Health Catalyst, Inc.(b)		30,819		805,917
HealthEquity, Inc.(a)		114,873		5,811,425
HMS Holdings Corp.(a)		145,799		3,684,341
LHC Group, Inc.(a)		49,868		6,991,494
Livongo Health, Inc.(a)(b)		86,555		2,469,414
NeoGenomics, Inc.(a)(b)		157,935		4,360,585
NextGen Healthcare, Inc.(a)		90,601		945,875
Omnicell, Inc.(a)		68,547		4,495,312
OptimizeRx Corp.(a)(b)		21,306		193,032
Pennant Group Inc.(a)		42,196		597,495
Phibro Animal Health Corp., Class A		33,892		819,170
Phreesia, Inc.(a)		47,730		1,003,762
R1 RCM, Inc.(a)(b)		170,660		1,551,299
Ryman Hospitality Properties, Inc.		81,763		2,931,204
Surgery Partners, Inc.(a)(b)		38,960		254,409
Tabula Rasa HealthCare, Inc.(a)(b)		32,297		1,688,810
Teladoc Health, Inc.(a)(b)		119,735		18,560,122
Tivity Health, Inc.(a)(b)		76,770		482,883
				83,252,854
Health Care: Miscellaneous — 0.2%
Medpace Holdings, Inc.(a)		45,730		3,355,667
Providence Service Corp.(a)		20,284		1,113,186
				4,468,853
Home Building — 0.8%
Beazer Homes USA, Inc.(a)(b)		46,913		302,120
Century Communities, Inc.(a)(b)		46,521		675,020
Installed Building Products, Inc.(a)		38,272		1,525,905
KB Home(b)		143,766		2,602,164

Security	Shares		Value
Home Building (continued)
Legacy Housing Corp.(a)(b)		8,543	$	79,023
LGI Homes, Inc.(a)		33,913		1,531,172
M/I Homes, Inc.(a)		44,877		741,817
MDC Holdings, Inc.		83,701		1,941,863
Meritage Homes Corp.(a)		60,723		2,216,997
Taylor Morrison Home Corp., Class A(a)(b)		216,341		2,379,751
TopBuild Corp.(a)		55,419		3,970,217
TRI Pointe Group, Inc.(a)(b)		228,350		2,002,629
				19,968,678
Hotel/Motel — 0.1%
Marcus Corp.		36,803		453,413
Red Lion Hotels Corp.(a)(b)		37,919		55,362
Red Rock Resorts, Inc., Class A		115,663		988,918
				1,497,693
Household Appliances — 0.0%
Hamilton Beach Brands Holding Co., Class A		9,881		93,969
National Presto Industries, Inc.		8,409		595,441
				689,410
Household Equipment & Products — 0.7%
Central Garden & Pet Co.(a)		18,844		518,210
Central Garden & Pet Co., Class A(a)		66,023		1,688,208
Helen of Troy Ltd.(a)(b)		41,617		5,994,097
Novocure Ltd.(a)		144,015		9,697,970
Tupperware Brands Corp.		85,836		139,054
				18,037,539
Household Furnishings — 0.3%
American Woodmark Corp.(a)(b)		27,911		1,271,904
Bassett Furniture Industries, Inc.		14,828		80,812
Casper Sleep, Inc.(a)(b)		11,092		47,585
Ethan Allen Interiors, Inc.		39,204		400,665
Flexsteel Industries, Inc.		11,157		122,281
Hooker Furniture Corp.		19,559		305,316
La-Z-Boy, Inc.		76,317		1,568,314
Lifetime Brands, Inc.		17,497		98,858
Lovesac Co.(a)(b)		13,634		79,486
Purple Innovation, Inc.(a)		13,115		74,493
RH(a)(b)		28,040		2,817,179
Select Interior Concepts, Inc., Class A(a)		31,954		66,145
Sleep Number Corp.(a)		46,323		887,549
				7,820,587
Insurance: Life — 0.5%
American Equity Investment Life Holding Co.(b)		134,382		2,526,381
Benefytt Technologies, Inc.(a)(b)		15,894		355,867
Citizens, Inc.(a)		80,383		524,097
CNO Financial Group, Inc.		248,428		3,078,023
FBL Financial Group, Inc., Class A		16,995		793,157

13

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Insurance: Life (continued)
FGL Holdings		245,759	$	2,408,438
GWG Holdings, Inc.(a)(b)		4,648		47,224
Independence Holding Co.		9,140		233,618
National Western Life Group, Inc., Class A		4,314		742,008
Third Point Reinsurance Ltd.(a)		125,559		930,392
Trupanion, Inc.(a)(b)		49,594		1,290,932
				12,930,137
Insurance: Multi-Line — 0.5%
BRP Group, Inc., Class A(a)(b)		29,567		311,932
Crawford & Co., Class A		29,182		210,110
eHealth, Inc.(a)		37,850		5,330,037
Goosehead Insurance, Inc., Class A(a)		19,160		855,111
Horace Mann Educators Corp.		59,708		2,184,716
James River Group Holdings Ltd.		48,683		1,764,272
Mr Cooper Group, Inc.(a)(b)		126,064		924,049
PICO Holdings, Inc.(a)		14,026		109,122
ProSight Global, Inc.(a)(b)		15,941		155,425
Watford Holdings Ltd.(a)		30,253		443,206
				12,287,980
Insurance: Property-Casualty — 2.1%
AMERISAFE, Inc.		28,534		1,839,587
Argo Group International Holdings Ltd.		55,296		2,049,270
Donegal Group, Inc., Class A		20,078		305,186
Employers Holdings, Inc.		36,372		1,473,430
Enstar Group Ltd.(a)		19,346		3,076,981
Essent Group Ltd.		160,158		4,218,562
FedNat Holding Co.		19,373		222,402
Genworth Financial, Inc., Class A(a)		845,131		2,805,835
Global Indemnity Ltd.		13,789		351,619
Greenlight Capital Re Ltd., Class A(a)		61,461		365,693
Hallmark Financial Services, Inc.(a)		37,323		150,785
HCI Group, Inc.		10,877		437,799
Heritage Insurance Holdings, Inc.		45,012		482,078
Hilltop Holdings, Inc.		119,208		1,802,425
Investors Title Co.		3,034		388,352
Kinsale Capital Group, Inc.		34,117		3,566,250
National General Holdings Corp.		114,478		1,894,611
NI Holdings, Inc.(a)		16,737		226,954
NMI Holdings, Inc., Class A(a)		113,124		1,313,370
Palomar Holdings, Inc.(a)		30,886		1,796,330
ProAssurance Corp.		75,946		1,898,650
Protective Insurance Corp., Class B		15,162		208,477
Radian Group, Inc.		337,107		4,365,536
RLI Corp.		66,406		5,839,079
Safety Insurance Group, Inc.		24,279		2,049,876
Selective Insurance Group, Inc.		97,678		4,854,596
State Auto Financial Corp.		28,950		804,520
Stewart Information Services Corp.		32,704		872,216
United Fire Group, Inc.		35,885		1,170,210
United Insurance Holdings Corp.		35,911		331,818

Security	Shares		Value
Insurance: Property-Casualty (continued)
Universal Insurance Holdings, Inc.		49,297	$	883,402
				52,045,899
International Trade & Diversified Logistic — 0.1%
CryoPort, Inc.(a)(b)		52,134		889,927
Radiant Logistics, Inc.(a)		75,533		292,313
Vectrus, Inc.(a)		18,881		781,862
				1,964,102
Internet Software & Services — 0.1%
ChannelAdvisor Corp.(a)		43,402		315,099
eGain Corp.(a)(b)		34,204		250,715
Gogo, Inc.(a)(b)		85,100		180,412
Quotient Technology, Inc.(a)(b)		124,735		810,777
TrueCar, Inc.(a)		171,450		414,909
				1,971,912
Leisure Time — 0.8%
Acushnet Holdings Corp.		58,205		1,497,033
American Outdoor Brands Corp.(a)		90,330		749,739
Bluegreen Vacations Corp.		14,077		81,365
Callaway Golf Co.		153,748		1,571,305
Churchill Downs, Inc.		58,189		5,990,558
Clarus Corp.(b)		31,194		305,701
Drive Shack, Inc.(a)(b)		94,139		143,091
Escalade, Inc.		15,982		95,093
Johnson Outdoors, Inc., Class A		8,709		546,054
Liberty TripAdvisor Holdings, Inc., Series A(a)		119,545		215,181
Lindblad Expeditions Holdings, Inc.(a)		39,560		164,965
Marriott Vacations Worldwide Corp.		68,766		3,822,014
OneSpaWorld Holdings Ltd.		74,249		301,451
RCI Hospitality Holdings, Inc.		15,137		150,916
SeaWorld Entertainment, Inc.(a)		78,665		866,888
Sturm Ruger & Co., Inc.		27,684		1,409,392
Vista Outdoor, Inc.(a)(b)		96,232		846,842
YETI Holdings, Inc.(a)		93,958		1,834,060
				20,591,648
Life Sciences Tools & Services — 0.0%
WaVe Life Sciences Ltd.(a)(b)		43,984		412,130
Luxury Items — 0.0%
Movado Group, Inc.		26,394		311,977
Signet Jewelers Ltd.		85,628		552,301
				864,278
Machinery: Agricultural — 0.1%
Alamo Group, Inc.(b)		15,938		1,414,975
Lindsay Corp.(b)		18,414		1,686,354
Titan International, Inc.		86,427		133,962
Titan Machinery, Inc.(a)(b)		32,252		280,270
				3,515,561
Machinery: Construction & Handling — 0.2%
Astec Industries, Inc.		38,713		1,353,794

14

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Machinery: Construction & Handling (continued)
Douglas Dynamics, Inc.		36,751	$	1,305,028
Manitowoc Co., Inc.(a)		57,001		484,508
NACCO Industries, Inc., Class A		5,686		159,094
Terex Corp.		105,063		1,508,705
				4,811,129
Machinery: Engines — 0.0%
Briggs & Stratton Corp.		72,021		130,358
Machinery: Industrial — 1.2%
Altra Industrial Motion Corp.		106,657		1,865,431
Applied Industrial Technologies, Inc.		63,371		2,897,322
Chart Industries, Inc.(a)(b)		59,843		1,734,250
Columbus McKinnon Corp.(b)		37,595		939,875
DXP Enterprises, Inc.(a)		26,329		322,794
EnPro Industries, Inc.		34,049		1,347,659
EVI Industries, Inc.(a)		6,784		107,051
Gencor Industries, Inc.(a)		12,664		132,972
Graham Corp.		14,327		184,818
Hyster-Yale Materials Handling, Inc.		18,129		726,792
John Bean Technologies Corp.		51,641		3,835,377
Kadant, Inc.		18,018		1,345,044
Kennametal, Inc.		138,423		2,577,436
Mayville Engineering Co., Inc.(a)		9,414		57,708
MTS Systems Corp.		32,332		727,470
Omega Flex, Inc.		4,792		404,445
Proto Labs, Inc.(a)(b)		44,928		3,420,369
SPX Corp.(a)		72,470		2,365,421
SPX FLOW, Inc.(a)		69,647		1,979,368
Tennant Co.(b)		29,597		1,715,146
Twin Disc, Inc.(a)		17,752		123,909
Welbilt, Inc.(a)(b)		213,869		1,097,148
				29,907,805
Machinery: Specialty — 0.1%
Albany International Corp., Class A		51,133		2,420,125
Hurco Cos., Inc.		10,416		303,105
				2,723,230
Manufactured Housing — 0.1%
Cavco Industries, Inc.(a)		14,466		2,096,702
Skyline Champion Corp.(a)		83,277		1,305,783
				3,402,485
Medical & Dental Instruments & Supplies — 2.4%
Alphatec Holdings, Inc.(a)(b)		64,366		222,063
American Renal Associates Holdings, Inc.(a)(b)		30,930		204,447
AngioDynamics, Inc.(a)(b)		59,152		616,955
Anika Therapeutics, Inc.(a)		22,321		645,300
Antares Pharma, Inc.(a)		260,797		615,481
Apyx Medical Corp.		51,661		185,463
AtriCure, Inc.(a)		62,874		2,111,938
Atrion Corp.		2,369		1,539,850
Avanos Medical, Inc.(a)(b)		78,538		2,115,028

Security	Shares		Value
Medical & Dental Instruments & Supplies (continued)
Axogen, Inc.(a)(b)		55,048	$	572,499
BioLife Solutions, Inc.(a)		10,419		98,981
Cardiovascular Systems, Inc.(a)		57,256		2,015,984
Centogene NV(a)		3,407		68,140
Cerus Corp.(a)(b)		260,411		1,210,911
Community Health Systems, Inc.(a)		160,450		535,903
CONMED Corp.		45,507		2,606,186
CryoLife, Inc.(a)(b)		59,713		1,010,344
Cutera, Inc.(a)(b)		22,845		298,356
Exagen, Inc.		5,688		90,667
Intersect ENT, Inc.(a)		51,176		606,436
Invacare Corp.		55,654		413,509
LeMaitre Vascular, Inc.(b)		26,581		662,399
LivaNova PLC(a)		80,746		3,653,756
Meridian Bioscience, Inc.(a)		68,945		579,138
Merit Medical Systems, Inc.(a)		88,888		2,777,750
NanoString Technologies, Inc.(a)(b)		56,438		1,357,334
Neogen Corp.(a)(b)		85,688		5,740,239
NuVasive, Inc.(a)		85,998		4,356,659
Ocular Therapeutix, Inc.(a)(b)		69,445		343,753
OraSure Technologies, Inc.(a)		107,765		1,159,551
Organogenesis Holdings, Inc.(a)		15,729		50,805
Orthofix Medical, Inc.(a)		29,049		813,662
OrthoPediatrics Corp.(a)(b)		18,179		720,616
Owens & Minor, Inc.		112,530		1,029,649
Patterson Cos., Inc.		140,708		2,151,425
Quidel Corp.(a)(b)		59,233		5,793,580
SeaSpine Holdings Corp.(a)		34,773		284,095
Senseonics Holdings, Inc.(a)(b)		189,093		119,790
Sientra, Inc.(a)(b)		59,637		118,678
STAAR Surgical Co.(a)		74,692		2,409,564
Surmodics, Inc.(a)		23,286		775,890
TransEnterix, Inc.(a)		21,383		7,523
TransMedics Group, Inc.(a)		23,615		285,269
Utah Medical Products, Inc.		5,607		527,338
ViewRay, Inc.(a)(b)		170,921		427,302
Wright Medical Group NV(a)		209,193		5,993,379
				59,923,585
Medical Equipment — 1.6%
Accuray, Inc.(a)		142,231		270,239
BioSig Technologies, Inc.(a)(b)		37,855		158,612
CareDx, Inc.(a)		67,752		1,479,026
ConforMIS, Inc.(a)(b)		100,669		63,421
ElectroCore, Inc.(a)		17,217		16,356
Fluidigm Corp.(a)(b)		114,760		291,490
Glaukos Corp.(a)(b)		64,573		1,992,723
Haemonetics Corp.(a)		83,686		8,340,147
Inspire Medical Systems, Inc.(a)		22,160		1,335,805
IntriCon Corp.(a)		18,839		221,735
iRadimed Corp.(a)(b)		6,885		146,995
iRhythm Technologies, Inc.(a)(b)		43,854		3,567,523
Lantheus Holdings, Inc.(a)(b)		64,063		817,444
Luminex Corp.		69,452		1,912,014

15

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Medical Equipment (continued)
Misonix, Inc.(a)		14,244	$	134,179
Natus Medical, Inc.(a)		55,359		1,280,454
Neuronetics, Inc.(a)		20,360		38,480
Nevro Corp.(a)(b)		49,588		4,957,808
Quanterix Corp.(a)		25,374		466,120
Shockwave Medical, Inc.(a)(b)		42,005		1,393,726
SI-BONE, Inc.(a)		30,696		366,817
Silk Road Medical, Inc.(a)(b)		26,189		824,430
Soliton, Inc.(a)(b)		7,988		64,703
Tactile Systems Technology, Inc.(a)		30,327		1,217,932
Tandem Diabetes Care, Inc.(a)		92,946		5,981,075
Vapotherm, Inc.(a)		25,020		471,127
Varex Imaging Corp.(a)		62,155		1,411,540
Zynex, Inc.(a)		26,805		296,731
				39,518,652
Metal Fabricating — 0.8%
Advanced Drainage Systems, Inc.		71,811		2,114,116
Compx International, Inc.		2,464		37,453
DMC Global, Inc.		22,761		523,731
Eastern Co.		8,070		157,365
Haynes International, Inc.		19,883		409,789
Lawson Products, Inc.(a)		6,505		173,814
LB Foster Co., Class A(a)		16,911		209,020
MRC Global, Inc.(a)(b)		127,619		543,657
Mueller Industries, Inc.		91,680		2,194,819
Mueller Water Products, Inc., Class A		257,419		2,061,926
NN, Inc.		68,197		117,981
Northwest Pipe Co.(a)		15,630		347,767
RBC Bearings, Inc.(a)(b)		40,174		4,531,225
Rexnord Corp.		176,190		3,994,227
Worthington Industries, Inc.		65,375		1,716,094
				19,132,984
Metals & Minerals: Diversified — 0.6%
Cleveland-Cliffs, Inc.(b)		657,088		2,595,498
Commercial Metals Co.		197,850		3,124,052
Compass Minerals International, Inc.		56,352		2,167,860
Energy Fuels, Inc.(a)(b)		170,377		201,045
Ferroglobe PLC(c)		42,394		1
Hecla Mining Co.		881,598		1,604,508
Materion Corp.		33,348		1,167,513
Minerals Technologies, Inc.		56,745		2,057,574
Oil-Dri Corp. of America		8,646		289,122
Ring Energy, Inc.(a)(b)		90,112		59,357
SunCoke Energy, Inc.		115,600		445,060
U.S. Silica Holdings, Inc.		118,656		213,581
United States Lime & Minerals, Inc.		4,129		304,927
				14,230,098
Miscellaneous Consumer Staples — 0.0%
cbdMD, Inc.		50,663		47,117
Office Supplies & Equipment — 0.3%
ACCO Brands Corp.		159,931		807,652

Security	Shares		Value
Office Supplies & Equipment (continued)
Herman Miller, Inc.		98,746	$	2,192,161
HNI Corp.		71,442		1,799,624
Kimball International, Inc., Class B		63,823		760,132
Knoll, Inc.		80,390		829,625
Pitney Bowes, Inc.		278,650		568,446
Steelcase, Inc., Class A		146,429		1,445,254
				8,402,894
Offshore Drilling & Other Services — 0.0%
Diamond Offshore Drilling, Inc.(a)(b)		109,473		200,336
Noble Corp. PLC(a)(b)		383,683		99,757
Pacific Drilling SA(a)(b)		44,926		19,318
SEACOR Marine Holdings, Inc.(a)(b)		33,234		145,565
				464,976
Oil Well Equipment & Services — 0.3%
Cactus, Inc., Class A		82,758		959,993
Covia Holdings Corp.(a)(b)		62,110		35,490
Dril-Quip, Inc.(a)		60,185		1,835,642
Flotek Industries, Inc.(a)(b)		83,384		74,212
Forum Energy Technologies, Inc.(a)(b)		123,556		21,906
Frank’s International NV(a)(b)		173,141		448,435
FTS International, Inc.(a)		48,704		10,861
Helix Energy Solutions Group, Inc.(a)(b)		234,558		384,675
Independence Contract Drilling, Inc.(a)		3,270		4,578
KLX Energy Services Holdings, Inc.(a)		31,321		21,925
Liberty Oilfield Services, Inc., Class A		86,921		233,817
Mammoth Energy Services, Inc.		18,588		13,919
Matrix Service Co.(a)		43,580		412,703
Nabors Industries Ltd.		572,123		223,185
National Energy Services Reunited Corp.(a)(b)		39,684		201,595
Natural Gas Services Group, Inc.(a)		18,775		83,737
NCS Multistage Holdings, Inc.(a)		14,363		9,192
Newpark Resources, Inc.(a)		137,755		123,566
NexTier Oilfield Solutions Inc.(a)		258,693		302,671
Nine Energy Service, Inc.(a)		23,730		19,181
Oceaneering International, Inc.(a)		161,396		474,504
Oil States International, Inc.(a)		97,571		198,069
ProPetro Holding Corp.(a)		129,717		324,292
RigNet, Inc.(a)		21,835		39,303
RPC, Inc.		98,174		202,238
SEACOR Holdings, Inc.(a)		28,912		779,468
Seadrill Ltd.(a)(b)		87,528		37,637
Select Energy Services, Inc., Class A(a)(b)		96,614		312,063
Smart Sand, Inc.(a)(b)		31,470		32,729
Solaris Oilfield Infrastructure, Inc., Class A		50,749		266,432
TETRA Technologies, Inc.(a)		185,359		59,315
U.S Well Services, Inc.(a)(b)		29,965		8,990
				8,156,323
Oil, Gas & Consumable Fuels — 0.2%
Archrock, Inc.		216,649		814,600

16

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Ardmore Shipping Corp.		56,023	$	294,121
DHT Holdings, Inc.		182,988		1,403,518
Dorian LPG Ltd.(a)		44,875		390,861
Exterran Corp.(a)		60,568		290,726
Plug Power, Inc.(a)(b)		493,338		1,746,417
				4,940,243
Oil: Crude Producers — 0.7%
Abraxas Petroleum Corp.(a)(b)		239,135		28,935
Amplify Energy Corp.		20,050		11,346
Berry Corp.		102,753		247,635
Bonanza Creek Energy, Inc.(a)(b)		31,381		353,036
Brigham Minerals, Inc., Class A		47,631		393,908
California Resources Corp.(a)(b)		79,668		79,668
Callon Petroleum Co.(a)		622,706		341,181
Chaparral Energy, Inc., Class A(a)(b)		46,381		21,799
CNX Resources Corp.(a)(b)		310,174		1,650,126
Comstock Resources, Inc.(a)(b)		27,958		150,694
CVR Energy, Inc.		49,531		818,747
Denbury Resources, Inc.(a)		774,423		142,958
Earthstone Energy, Inc., Class A(a)(b)		32,802		57,732
Evolution Petroleum Corp.		40,577		105,906
Extraction Oil & Gas, Inc.(a)(b)		128,206		54,103
Falcon Minerals Corp.		58,877		126,586
Goodrich Petroleum Corp.(a)		11,977		51,022
Gulfport Energy Corp.(a)		246,641		109,681
HighPoint Resources Corp.(a)(b)		171,738		32,630
Laredo Petroleum, Inc.(a)		276,805		105,131
Magnolia Oil & Gas Corp., Class A(a)(b)		164,740		658,960
Montage Resources Corp.(a)		31,941		71,867
Northern Oil and Gas, Inc.(a)		582,561		386,296
Oasis Petroleum, Inc.(a)(b)		519,931		181,976
ONE Gas, Inc.		86,401		7,224,852
Overseas Shipholding Group, Inc., Class A(a)(b)		108,747		246,856
Panhandle Oil and Gas, Inc., Class A		23,154		85,438
PDC Energy, Inc.(a)(b)		168,339		1,045,385
Penn Virginia Corp.(a)		22,943		70,894
PrimeEnergy Resources Corp.(a)(b)		776		57,424
QEP Resources, Inc.		390,718		130,695
Rosehill Resources, Inc.(a)		15,579		6,387
SandRidge Energy, Inc.(a)(b)		45,940		41,305
SilverBow Resources, Inc.(a)(b)		9,744		24,068
SM Energy Co.		181,536		221,474
Southwestern Energy Co.(a)		904,483		1,528,576
Talos Energy, Inc.(a)(b)		33,127		190,480
Tellurian, Inc.(a)(b)		153,640		138,875
Unit Corp.(a)(b)		80,214		20,856
W&T Offshore, Inc.(a)		156,046		265,278
Whiting Petroleum Corp.(a)(b)		140,975		94,510
				17,575,276
Oil: Refining & Marketing — 0.3%
Clean Energy Fuels Corp.(a)(b)		217,452		387,065

Security	Shares		Value
Oil: Refining & Marketing (continued)
Delek US Holdings, Inc.		123,058	$	1,939,394
Par Pacific Holdings, Inc.(a)		57,303		406,851
Renewable Energy Group, Inc.(a)		63,850		1,310,840
Trecora Resources(a)(b)		35,662		212,189
World Fuel Services Corp.		106,842		2,690,282
				6,946,621
Paints & Coatings — 0.2%
Chase Corp.		12,034		990,278
Ferro Corp.(a)(b)		135,792		1,271,013
HB Fuller Co.		84,466		2,359,135
Kronos Worldwide, Inc.		37,297		314,787
				4,935,213
Paper — 0.2%
Clearwater Paper Corp.(a)		25,888		564,617
Neenah, Inc.		27,446		1,183,746
PH Glatfelter Co.		71,990		879,718
Schweitzer-Mauduit International, Inc.		50,880		1,415,482
Verso Corp., Class A(a)(b)		58,427		659,056
				4,702,619
Personal Care — 0.3%
Edgewell Personal Care Co.(a)		91,064		2,192,821
Lifevantage Corp.(a)(b)		27,743		285,753
USANA Health Sciences, Inc.(a)		20,646		1,192,513
WD-40 Co.		22,697		4,558,692
				8,229,779
Pharmaceuticals — 2.8%
Abeona Therapeutics, Inc.(a)(b)		89,299		187,528
ACADIA Pharmaceuticals, Inc.(a)		186,658		7,886,300
AcelRx Pharmaceuticals, Inc.(a)(b)		118,774		140,153
Aclaris Therapeutics, Inc.(a)		46,762		48,632
Adamas Pharmaceuticals, Inc.(a)(b)		33,709		97,419
Aerie Pharmaceuticals, Inc.(a)(b)		69,696		940,896
Akorn, Inc.(a)		144,384		81,028
Amneal Pharmaceuticals, Inc.(a)		194,933		678,367
Amphastar Pharmaceuticals, Inc.(a)(b)		62,591		928,850
Arrowhead Pharmaceuticals, Inc.(a)		165,852		4,771,562
Assertio Therapeutics, Inc.(a)		96,285		62,585
Axonics Modulation Technologies, Inc.(a)(b)		30,174		766,721
Axsome Therapeutics, Inc.(a)(b)		45,043		2,649,880
Biospecifics Technologies Corp.(a)(b)		11,180		632,453
Cerecor, Inc.(a)(b)		32,033		79,442
Chimerix, Inc.(a)		75,882		109,270
ChromaDex Corp.(a)(b)		67,064		218,629
Concert Pharmaceuticals, Inc.(a)(b)		43,423		383,859
Corcept Therapeutics, Inc.(a)(b)		161,742		1,923,112
Corium International, Inc.(b)(c)		34,301		6,174
CorMedix, Inc.(a)(b)		41,288		148,224
Dicerna Pharmaceuticals, Inc.(a)		88,513		1,625,984
Eagle Pharmaceuticals, Inc.(a)		15,068		693,128
Eloxx Pharmaceuticals, Inc.(a)(b)		37,597		73,690

17

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Pharmaceuticals (continued)
Enanta Pharmaceuticals, Inc.(a)(b)		31,156	$	1,602,353
Endo International PLC(a)		371,148		1,373,248
Esperion Therapeutics, Inc.(a)(b)		42,066		1,326,341
Evolus, Inc.(a)(b)		29,528		122,541
Galectin Therapeutics, Inc.(a)		71,645		140,424
Heska Corp.(a)(b)		11,534		637,830
Innoviva, Inc.(a)		105,005		1,234,859
Intra-Cellular Therapies, Inc.(a)		87,672		1,347,519
Ironwood Pharmaceuticals, Inc.(a)(b)		258,592		2,609,193
La Jolla Pharmaceutical Co.(a)		31,028		130,318
Lannett Co., Inc.(a)		52,516		364,986
Liquidia Technologies, Inc.(a)		20,040		94,388
Mallinckrodt PLC(a)(b)		136,411		270,094
MEI Pharma, Inc.(a)		159,894		257,429
MyoKardia, Inc.(a)		73,771		3,458,384
Omthera Pharmaceuticals, Inc.(c)		1,326		—
Optinose, Inc.(a)(b)		45,112		202,553
Osmotica Pharmaceuticals PLC(a)(b)		12,318		39,171
Pacira BioSciences, Inc.(a)		67,911		2,277,056
Paratek Pharmaceuticals, Inc.(a)		54,370		171,265
PetIQ, Inc.(a)(b)		32,729		760,295
Portola Pharmaceuticals, Inc.(a)		127,182		906,808
Prestige Consumer Healthcare, Inc.(a)(b)		83,231		3,052,913
Radius Health, Inc.(a)		74,352		966,576
Reata Pharmaceuticals, Inc., Class A(a)		37,578		5,424,009
Revance Therapeutics, Inc.(a)		85,721		1,268,671
SIGA Technologies, Inc.(a)(b)		90,574		432,944
Spectrum Pharmaceuticals, Inc.(a)(b)		184,347		429,529
Supernus Pharmaceuticals, Inc.(a)		81,906		1,473,489
Syndax Pharmaceuticals, Inc.(a)(b)		36,605		401,557
TG Therapeutics, Inc.(a)(b)		141,775		1,395,066
TherapeuticsMD, Inc.(a)(b)		357,938		379,414
Theravance Biopharma, Inc.(a)(b)		81,354		1,880,091
Ultragenyx Pharmaceutical, Inc.(a)(b)		90,741		4,031,623
Voyager Therapeutics, Inc.(a)		40,351		369,212
Zogenix, Inc.(a)(b)		71,051		1,757,091
Zynerba Pharmaceuticals, Inc.(a)(b)		35,338		135,345
				67,858,471
Photography — 0.0%
GoPro, Inc., Class A(a)(b)		212,746		557,395
Plastics — 0.0%
Trinseo SA		65,385		1,184,122
Power Transmission Equipment — 0.6%
Advanced Energy Industries, Inc.(a)		63,211		3,065,102
Generac Holdings, Inc.(a)(b)		101,161		9,425,170
Powell Industries, Inc.		14,539		373,216

Security	Shares		Value
Power Transmission Equipment (continued)
Vicor Corp.(a)(b)		29,421	$	1,310,411
				14,173,899
Printing & Copying Services — 0.2%
Casella Waste Systems, Inc., Class A(a)(b)		76,399		2,984,145
Cimpress PLC(a)		31,728		1,687,930
				4,672,075
Producer Durables: Miscellaneous — 0.2%
Advanced Disposal Services, Inc.(a)		120,258		3,944,463
Park-Ohio Holdings Corp.		14,160		268,190
				4,212,653
Production Technology Equipment — 0.5%
Axcelis Technologies, Inc.(a)		53,562		980,720
Brooks Automation, Inc.		119,814		3,654,327
Cohu, Inc.(b)		66,706		825,820
Ichor Holdings Ltd.(a)		36,703		703,230
Onto Innovation, Inc.(a)(b)		79,487		2,358,379
Photronics, Inc.(a)		99,012		1,015,863
Ultra Clean Holdings, Inc.(a)		65,201		899,774
Veeco Instruments, Inc.(a)		80,064		766,213
Xperi Corp.		81,378		1,131,968
				12,336,294
Publishing — 0.1%
Daily Journal Corp.(a)		1,877		428,519
Eros International PLC(a)(b)		153,018		252,480
Gannett Co., Inc.		190,581		282,060
Lee Enterprises, Inc.(a)(b)		79,941		78,582
Meredith Corp.		66,465		812,202
Scholastic Corp.		48,925		1,247,098
Tribune Publishing Co.		29,240		237,137
				3,338,078
Radio & TV Broadcasters — 0.4%
Central European Media Enterprises Ltd., Class A(a)(b)		144,864		453,424
Cumulus Media, Inc., Class A(a)		24,455		132,546
Entercom Communications Corp., Class A		190,229		325,292
Entravision Communications Corp., Class A		92,608		187,994
Gray Television, Inc.(a)(b)		151,035		1,622,116
Liberty Media Corp.-Liberty Braves, Class A(a)(b)		17,111		333,664
Liberty Media Corp.-Liberty Braves, Class C(a)(b)		63,833		1,216,657
MSG Networks, Inc., Class A(a)		70,962		723,812
Saga Communications, Inc., Class A		6,403		176,147

18

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Radio & TV Broadcasters (continued)
TEGNA, Inc.(b)		361,144	$	3,922,024
				9,093,676
Railroad Equipment — 0.0%
Greenbrier Cos., Inc.		52,657		934,135
Real Estate — 0.5%
Avalon GloboCare Corp.(a)		32,360		50,158
Consolidated-Tomoka Land Co.(b)		8,085		366,493
Cushman & Wakefield PLC(a)(b)		189,493		2,224,648
eXp World Holdings, Inc.(a)(b)		34,405		291,066
Griffin Industrial Realty, Inc.		1,381		45,159
Kennedy-Wilson Holdings, Inc.		203,236		2,727,427
Newmark Group, Inc., Class A		237,538		1,009,536
Realogy Holdings Corp.		188,371		566,997
Redfin Corp.(a)		150,128		2,314,974
Retail Value, Inc.		23,966		293,583
RMR Group, Inc., Class A		25,471		686,953
St. Joe Co.(a)		55,431		930,132
Stratus Properties, Inc.(a)		8,765		155,053
Tejon Ranch Co.(a)(b)		34,480		484,789
				12,146,968
Real Estate Investment Trusts (REITs) — 7.3%
Acadia Realty Trust		140,431		1,739,940
AG Mortgage Investment Trust, Inc.		51,421		140,894
Agree Realty Corp.		68,135		4,217,556
Alexander & Baldwin, Inc.		113,386		1,272,191
Alexander’s, Inc.		3,568		984,590
American Assets Trust, Inc.		81,655		2,041,375
American Finance Trust, Inc.		176,892		1,105,575
Anworth Mortgage Asset Corp.		156,546		176,897
Apollo Commercial Real Estate Finance, Inc.		255,959		1,899,216
Ares Commercial Real Estate Corp.		49,694		347,361
Armada Hoffler Properties, Inc.		96,794		1,035,696
ARMOUR Residential REIT, Inc.		95,893		844,817
Ashford Hospitality Trust, Inc.		151,161		111,738
Blackstone Mortgage Trust, Inc., Class A		215,868		4,019,462
Bluerock Residential Growth REIT, Inc.		33,801		188,272
Braemar Hotels & Resorts, Inc.		49,634		84,378
BRT Apartments Corp.		16,395		168,049
Capstead Mortgage Corp.		150,981		634,120
CareTrust REIT, Inc.		159,122		2,353,414
Catchmark Timber Trust, Inc., Class A		80,511		581,289
CBL & Associates Properties, Inc.(b)		259,934		52,013
Cedar Realty Trust, Inc.		141,316		131,862
Chatham Lodging Trust		75,070		445,916
Cherry Hill Mortgage Investment Corp.		25,766		159,749
CIM Commercial Trust Corp.		19,931		221,035
City Office REIT, Inc.		87,710		634,143
Clipper Realty, Inc.		23,302		120,704
Colony Credit Real Estate, Inc.		134,953		531,715
Community Healthcare Trust, Inc.		31,529		1,206,930

Security	Shares		Value
Real Estate Investment Trusts (REITs) (continued)
CoreCivic, Inc.		198,156	$	2,213,402
CorEnergy Infrastructure Trust, Inc.		21,957		403,570
DiamondRock Hospitality Co.(b)		331,137		1,682,176
Diversified Healthcare Trust		402,838		1,462,302
Dynex Capital, Inc.		36,509		381,154
Easterly Government Properties, Inc.		123,044		3,031,804
EastGroup Properties, Inc.		63,669		6,652,137
Ellington Financial, Inc.		66,361		378,921
Essential Properties Realty Trust, Inc.		153,696		2,007,270
Exantas Capital Corp.		49,855		137,600
Farmland Partners, Inc.		57,422		348,552
First Industrial Realty Trust, Inc.		208,693		6,934,868
Four Corners Property Trust, Inc.		117,318		2,195,020
Franklin Street Properties Corp.		172,245		986,964
Front Yard Residential Corp.		81,717		976,518
Geo Group, Inc.		197,548		2,402,184
Getty Realty Corp.		55,077		1,307,528
Gladstone Commercial Corp.		56,698		814,183
Gladstone Land Corp.		26,573		314,890
Global Medical REIT, Inc.		65,644		664,317
Global Net Lease, Inc.		151,382		2,023,977
Granite Point Mortgage Trust, Inc.		89,009		451,276
Great Ajax Corp.		28,750		182,850
Healthcare Realty Trust, Inc.		219,304		6,125,161
Hersha Hospitality Trust		55,531		198,801
Independence Realty Trust, Inc.		149,913		1,340,222
Industrial Logistics Properties Trust		106,202		1,862,783
Innovative Industrial Properties, Inc.		27,383		2,079,191
Invesco Mortgage Capital, Inc.		305,091		1,040,360
Investors Real Estate Trust		20,257		1,114,135
iStar, Inc.		97,863		1,038,326
Jernigan Capital, Inc.		37,307		408,885
Kite Realty Group Trust		137,191		1,299,199
KKR Real Estate Finance Trust, Inc.		42,248		634,142
Lexington Realty Trust		400,653		3,978,484
LTC Properties, Inc.		65,351		2,019,346
Mack-Cali Realty Corp.		143,459		2,184,881
Monmouth Real Estate Investment Corp.		156,515		1,886,006
National Health Investors, Inc.		70,693		3,500,717
National Storage Affiliates Trust		97,589		2,888,634
New Senior Investment Group, Inc.		140,467		359,596
New York Mortgage Trust, Inc.		628,173		973,668
NexPoint Residential Trust, Inc.		32,302		814,333
Office Properties Income Trust		79,009		2,152,995
One Liberty Properties, Inc.		23,662		329,612
Orchid Island Capital, Inc.		101,731		300,106
Pebblebrook Hotel Trust		217,186		2,365,156
Pennsylvania Real Estate Investment Trust(b)		106,394		96,989
PennyMac Mortgage Investment Trust(f)		163,919		1,740,820
Physicians Realty Trust		312,046		4,349,921
Piedmont Office Realty Trust, Inc., Class A(b)		206,719		3,650,658

19

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Real Estate Investment Trusts (REITs) (continued)
PotlatchDeltic Corp.		109,566	$	3,439,277
Preferred Apartment Communities, Inc., Class A		75,039		538,780
PS Business Parks, Inc.		33,171		4,495,334
QTS Realty Trust, Inc., Class A		95,264		5,526,265
Ready Capital Corp.		63,438		458,022
Redwood Trust, Inc.		186,432		943,346
Retail Opportunity Investments Corp.		189,785		1,573,318
Rexford Industrial Realty, Inc.		187,264		7,679,697
RLJ Lodging Trust		280,930		2,168,780
RPT Realty		129,377		780,143
Sabra Health Care REIT, Inc.		334,433		3,652,008
Safehold, Inc.(b)		20,930		1,323,404
Saul Centers, Inc.		19,209		628,903
Seritage Growth Properties, Class A		56,106		511,126
STAG Industrial, Inc.		247,915		5,583,046
Summit Hotel Properties, Inc.		173,277		731,229
Sunstone Hotel Investors, Inc.		375,472		3,270,361
Tanger Factory Outlet Centers, Inc.(b)		151,491		757,455
Terreno Realty Corp.		109,045		5,643,079
TPG RE Finance Trust, Inc.		80,678		442,922
UMH Properties, Inc.		58,810		638,677
Uniti Group, Inc.		314,347		1,895,512
Universal Health Realty Income Trust		21,157		2,132,837
Urban Edge Properties		191,506		1,687,168
Urstadt Biddle Properties, Inc., Class A		47,121		664,406
Washington Prime Group, Inc.(b)		305,453		245,920
Washington Real Estate Investment Trust		136,638		3,261,549
Western Asset Mortgage Capital Corp.		83,308		190,775
Whitestone REIT		60,527		375,267
Xenia Hotels & Resorts, Inc.		188,459		1,941,128
				179,317,221
Real Estate Management & Development — 0.0%
American Realty Investors, Inc.(a)		3,807		35,177
BBX Capital Corp.		97,788		225,890
CorePoint Lodging, Inc.		65,202		255,592
Forestar Group, Inc.(a)(b)		25,942		268,500
Maui Land & Pineapple Co., Inc.(a)(b)		9,778		106,873
Rafael Holdings, Inc., Class B(a)(b)		18,176		232,835
Transcontinental Realty Investors, Inc.(a)		2,104		43,153
				1,168,020
Recreational Vehicles & Boats — 0.2%
Camping World Holdings, Inc., Class A		53,100		302,139
LCI Industries		40,339		2,695,855
Malibu Boats, Inc., Class A(a)(b)		33,093		952,748
Marine Products Corp.		11,193		90,439
MasterCraft Boat Holdings, Inc.(a)		29,977		218,832

Security	Shares		Value
Recreational Vehicles & Boats (continued)
Winnebago Industries, Inc.		52,643	$	1,464,002
				5,724,015
Rental & Leasing Services: Consumer — 0.1%
Avis Budget Group, Inc.(a)		95,530		1,327,867
Hertz Global Holdings, Inc.(a)		167,747		1,036,677
Rent-A-Center, Inc.		84,917		1,200,726
				3,565,270
Restaurants — 1.0%
Biglari Holdings, Inc., Class B(a)(b)		1,451		74,581
BJ’s Restaurants, Inc.		31,562		438,396
Bloomin’ Brands, Inc.		144,597		1,032,423
Brinker International, Inc.		62,037		745,064
Carrols Restaurant Group, Inc.(a)(b)		53,679		97,696
Cheesecake Factory, Inc.		69,339		1,184,310
Cracker Barrel Old Country Store, Inc.		39,942		3,323,973
Dave & Buster’s Entertainment, Inc.		53,285		696,968
Del Taco Restaurants, Inc.(a)		44,875		153,921
Denny’s Corp.(a)(b)		94,889		728,748
Dine Brands Global, Inc.		26,502		760,077
El Pollo Loco Holdings, Inc.(a)		31,836		269,014
Fiesta Restaurant Group, Inc.(a)(b)		35,926		144,782
J Alexander’s Holdings, Inc.(a)		19,348		74,103
Jack in the Box, Inc.		38,400		1,345,920
Kura Sushi USA, Inc., Class A(a)(b)		5,130		61,355
Nathan’s Famous, Inc.		4,875		297,375
Noodles & Co.(a)		46,975		221,252
Papa John’s International, Inc.		37,245		1,987,766
Potbelly Corp.(a)(b)		54,067		167,067
Red Robin Gourmet Burgers, Inc.(a)		21,287		181,365
Ruth’s Hospitality Group, Inc.		45,746		305,583
Shake Shack, Inc., Class A(a)(b)		48,118		1,815,973
Texas Roadhouse, Inc.		109,248		4,511,943
Wingstop, Inc.		48,438		3,860,509
				24,480,164
Scientific Instruments: Control & Filter — 0.6%
Arlo Technologies, Inc.(a)		121,861		296,122
Brady Corp., Class A		80,154		3,617,350
CIRCOR International, Inc.(a)(b)		31,510		366,461
Energy Recovery, Inc.(a)(b)		60,043		446,720
ESCO Technologies, Inc.		42,378		3,216,914
Gorman-Rupp Co.		28,961		903,873
Helios Technologies, Inc.		49,690		1,884,245
Napco Security Technologies, Inc.(a)(b)		19,400		294,298
Thermon Group Holdings, Inc.(a)(b)		53,327		803,638
Watts Water Technologies, Inc., Class A		46,291		3,918,533
Wrap Technologies, Inc.(a)		25,645		109,248
				15,857,402
Scientific Instruments: Electrical — 0.4%
Allied Motion Technologies, Inc.(b)		11,399		270,156
Atkore International Group, Inc.(a)(b)		80,411		1,694,260
AZZ, Inc.		42,754		1,202,243

20

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Scientific Instruments: Electrical (continued)
EnerSys		70,729	$	3,502,500
Franklin Electric Co., Inc.		76,886		3,623,637
Preformed Line Products Co.		5,183		258,269
				10,551,065
Scientific Instruments: Gauges & Meters — 0.4%
Badger Meter, Inc.(b)		47,092		2,524,131
FARO Technologies, Inc.(a)		28,450		1,266,025
Itron, Inc.(a)		56,691		3,165,059
Mesa Laboratories, Inc.(b)		6,527		1,475,690
Transcat, Inc.(a)		11,266		298,549
Vishay Precision Group, Inc.(a)(b)		17,030		341,962
				9,071,416
Scientific Instruments: Pollution Control — 0.4%
CECO Environmental Corp.(a)		50,515		235,905
Covanta Holding Corp.		196,490		1,679,989
Darling Ingredients, Inc.(a)		272,345		5,220,854
Evoqua Water Technologies Corp.(a)(b)		125,902		1,411,361
Heritage-Crystal Clean, Inc.(a)		24,470		397,393
Team, Inc.(a)(b)		48,265		313,723
US Ecology, Inc.		39,217		1,192,197
				10,451,422
Securities Brokerage & Services — 0.1%
GAIN Capital Holdings, Inc.		31,038		173,192
INTL. FCStone, Inc.(a)		26,261		952,224
Siebert Financial Corp.(a)		14,424		104,141
				1,229,557
Semiconductors & Components — 2.1%
Acacia Communications, Inc.(a)		62,782		4,217,695
Adesto Technologies Corp.(a)		44,932		502,789
Alpha & Omega Semiconductor Ltd.(a)		33,866		217,081
Amkor Technology, Inc.(a)		168,221		1,310,442
AXT, Inc.(a)(b)		60,137		193,040
CEVA, Inc.(a)		35,185		877,162
Cirrus Logic, Inc.(a)		96,528		6,335,133
Diodes, Inc.(a)(b)		69,647		2,830,106
DSP Group, Inc.(a)		35,238		472,189
FormFactor, Inc.(a)		124,404		2,499,276
Inphi Corp.(a)		74,434		5,892,940
Lattice Semiconductor Corp.(a)(b)		209,656		3,736,070
MACOM Technology Solutions Holdings, Inc.(a)(b)		78,712		1,490,018
MaxLinear, Inc.(a)		110,243		1,286,536
Power Integrations, Inc.		46,874		4,140,380
Rambus, Inc.(a)		182,126		2,021,599
Semtech Corp.(a)		109,265		4,097,437
Silicon Laboratories, Inc.(a)(b)		71,207		6,081,790
SiTime Corp.(a)		7,675		167,085
SMART Global Holdings, Inc.(a)(b)		22,414		544,660

Security	Shares		Value
Semiconductors & Components (continued)
Vishay Intertechnology, Inc.		219,850	$	3,168,038
				52,081,466
Semiconductors & Semiconductor Equipment — 0.1%
Ambarella, Inc.(a)		53,697		2,607,526
Shipping — 0.5%
Diamond S Shipping, Inc.(a)		44,180		521,766
Eagle Bulk Shipping, Inc.(a)(b)		68,018		125,833
GasLog Ltd.		67,107		242,927
Genco Shipping & Trading Ltd.		35,249		226,299
Golar LNG Ltd.		157,384		1,240,186
International Seaways, Inc.		41,673		995,568
Matson, Inc.		71,689		2,195,117
Nordic American Tankers Ltd.		242,831		1,100,024
Safe Bulkers, Inc.(a)		74,538		88,700
Scorpio Tankers, Inc.(b)		73,115		1,397,959
SFL Corp. Ltd.		133,804		1,267,124
Teekay Corp.(a)(b)		116,178		367,123
Teekay Tankers Ltd., Class A(a)		39,535		879,258
Tidewater, Inc.(a)		67,412		477,277
				11,125,161
Software — 0.6%
Castlight Health, Inc., Class B(a)		156,665		113,284
Five9, Inc.(a)(b)		99,101		7,577,263
MobileIron, Inc.(a)		165,400		628,520
Model N, Inc.(a)		54,627		1,213,266
Qualys, Inc.(a)		55,726		4,847,605
Rubicon Project, Inc.(a)(b)		79,386		440,592
				14,820,530
Specialty Retail — 1.7%
1-800-Flowers.com, Inc., Class A(a)		40,181		531,595
Aaron’s, Inc.		112,191		2,555,711
Abercrombie & Fitch Co., Class A		104,356		948,596
America’s Car-Mart, Inc.(a)(b)		10,260		578,151
American Eagle Outfitters, Inc.		261,132		2,075,999
Asbury Automotive Group, Inc.(a)		31,932		1,763,604
Ascena Retail Group, Inc.(a)(b)		11,667		16,217
At Home Group, Inc.(a)(b)		79,483		160,556
Barnes & Noble Education, Inc.(a)		62,905		85,551
Bed Bath & Beyond, Inc.		203,090		855,009
BMC Stock Holdings, Inc.(a)		110,040		1,951,009
Boot Barn Holdings, Inc.(a)		46,362		599,461
Buckle, Inc.		48,040		658,628
Caleres, Inc.		63,303		329,176
Cato Corp., Class A		36,185		386,094
Chico’s FAS, Inc.		188,869		243,641
Children’s Place, Inc.		23,887		467,230
Citi Trends, Inc.		18,654		166,021
Conn’s, Inc.(a)		30,828		128,861
Container Store Group, Inc.(a)		45,627		107,680
Designer Brands, Inc., Class A		109,162		543,627
Express, Inc.(a)(b)		96,161		143,280

21

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Specialty Retail (continued)
GameStop Corp., Class A(b)		109,864	$	384,524
Genesco, Inc.(a)		23,619		315,077
GNC Holdings, Inc., Class A(a)(b)		126,560		59,243
Group 1 Automotive, Inc.		30,072		1,330,987
Guess?, Inc.		75,161		508,840
Haverty Furniture Cos., Inc.		29,369		349,197
Hibbett Sports, Inc.(a)		29,179		319,072
J. Jill, Inc.(a)		23,985		13,249
Lands’ End, Inc.(a)		16,179		86,396
Lithia Motors, Inc., Class A		37,428		3,061,236
Lumber Liquidators Holdings, Inc.(a)(b)		46,949		220,191
MarineMax, Inc.(a)		34,261		357,000
Michaels Cos., Inc.(a)		128,345		207,919
Monro, Inc.		54,098		2,370,033
Murphy USA, Inc.(a)		48,308		4,075,263
National Vision Holdings, Inc.(a)(b)		129,991		2,524,425
Office Depot, Inc.		902,899		1,480,754
OneWater Marine, Inc., Class A(a)		6,226		47,629
Party City Holdco, Inc.(a)(b)		81,545		37,372
RealReal, Inc.(a)(b)		84,538		592,611
Regis Corp.(a)(b)		38,664		228,504
RTW RetailWinds, Inc.(a)		43,216		9,080
Sally Beauty Holdings, Inc.(a)		193,711		1,565,185
Shoe Carnival, Inc.		15,531		322,579
Sonic Automotive, Inc., Class A		40,668		540,071
Sportsman’s Warehouse Holdings, Inc.(a)(b)		70,856		436,473
Stamps.com, Inc.(a)		27,529		3,580,972
Systemax, Inc.		20,451		362,596
Tailored Brands, Inc.		72,993		127,008
Tilly’s, Inc., Class A		33,361		137,781
Zumiez, Inc.(a)		32,222		558,085
				41,505,049
Steel — 0.2%
Allegheny Technologies, Inc.(a)		208,932		1,775,922
Carpenter Technology Corp.		78,220		1,525,290
Olympic Steel, Inc.		13,771		142,530
Ryerson Holding Corp.(a)		27,174		144,566
Schnitzer Steel Industries, Inc., Class A		41,632		542,881
TimkenSteel Corp.(a)		66,038		213,303
				4,344,492
Technology: Miscellaneous — 0.4%
Benchmark Electronics, Inc.		61,204		1,223,468
CTS Corp.(b)		53,210		1,324,397
Fabrinet(a)		60,892		3,322,268
Kimball Electronics, Inc.(a)		40,186		438,831
Plexus Corp.(a)		48,363		2,638,685
				8,947,649
Telecommunications Equipment — 0.3%
Airgain, Inc.(a)(b)		13,818		102,115
Akoustis Technologies, Inc.(a)(b)		48,386		259,833
Applied Optoelectronics, Inc.(a)(b)		29,336		222,660

Security	Shares		Value
Telecommunications Equipment (continued)
CalAmp Corp.(a)(b)		54,415	$	244,868
Cambium Networks Corp.(a)(b)		6,614		37,038
Clearfield, Inc.(a)		16,199		191,958
Knowles Corp.(a)		137,767		1,843,323
Sonim Technologies, Inc.(a)		15,644		10,951
Tessco Technologies, Inc.(b)		9,764		47,746
Viavi Solutions, Inc.(a)(b)		381,559		4,277,276
Vocera Communications, Inc.(a)		51,649		1,097,025
				8,334,793
Textile Products — 0.1%
Culp, Inc.		26,313		193,664
Interface, Inc.		96,084		726,395
Unifi, Inc.(a)		23,703		273,769
				1,193,828
Textiles Apparel & Shoes — 0.7%
Centric Brands, Inc.(a)(b)		24,642		27,599
Crocs, Inc.(a)		114,447		1,944,454
Deckers Outdoor Corp.(a)		46,584		6,242,256
Delta Apparel, Inc.(a)(b)		9,596		99,894
Fossil Group, Inc.(a)		78,740		259,055
G-III Apparel Group Ltd.(a)(b)		73,913		569,130
Kontoor Brands, Inc.(a)		73,573		1,410,394
Oxford Industries, Inc.		27,416		994,104
Rocky Brands, Inc.		10,928		211,457
Steven Madden Ltd.		139,916		3,250,249
Superior Group of Cos., Inc.		18,407		155,723
Vera Bradley, Inc.(a)		31,682		130,530
Vince Holding Corp.(a)		4,847		18,806
Weyco Group, Inc.		9,709		195,831
Wolverine World Wide, Inc.		132,373		2,012,070
				17,521,552
Tobacco — 0.2%
22nd Century Group, Inc.(a)(b)		180,340		135,255
Greenlane Holdings, Inc., Class A(a)(b)		9,262		15,931
Pyxus International, Inc.(a)(b)		12,563		39,071
Turning Point Brands, Inc.(b)		14,165		299,023
Universal Corp.		40,333		1,783,122
Vector Group Ltd.		183,764		1,731,057
				4,003,459
Toys — 0.0%
Funko, Inc., Class A(a)(b)		34,258		136,689
Transportation Miscellaneous — 0.2%
Costamare, Inc.		87,186		394,081
Echo Global Logistics, Inc.(a)		43,305		739,649
General Finance Corp.(a)		16,982		105,968
Hub Group, Inc., Class A(a)		53,358		2,426,188
Scorpio Bulkers, Inc.		93,387		236,269

22

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Transportation Miscellaneous (continued)
Textainer Group Holdings Ltd.(a)(b)		85,527	$	703,032
				4,605,187
Truckers — 0.5%
ArcBest Corp.		41,559		728,114
Covenant Transportation Group, Inc., Class A(a)(b)		20,658		179,105
Daseke, Inc.(a)(b)		77,092		107,929
Forward Air Corp.(b)		47,525		2,407,141
FRP Holdings, Inc.(a)		11,408		490,544
Heartland Express, Inc.		75,060		1,393,864
Marten Transport Ltd.		64,414		1,321,775
PAM Transportation Services, Inc.(a)		2,919		89,759
Roadrunner Transportation Systems, Inc.(a)(b)		5,327		13,584
Saia, Inc.(a)(b)		43,287		3,183,326
Universal Logistics Holdings, Inc.		12,578		164,772
US Xpress Enterprises, Inc., Class A(a)		33,215		110,938
Werner Enterprises, Inc.		74,636		2,706,302
YRC Worldwide, Inc.(a)(b)		50,834		85,401
				12,982,554
Utilities: Electrical — 2.1%
ALLETE, Inc.		89,319		5,419,877
Atlantic Power Corp.(a)		165,051		353,209
Avista Corp.		111,156		4,723,019
Black Hills Corp.		102,034		6,533,237
Clearway Energy, Inc., Class A		57,862		993,491
Clearway Energy, Inc., Class C		130,681		2,456,803
El Paso Electric Co.		67,164		4,564,466
Genie Energy Ltd., Class B		22,491		161,485
MGE Energy, Inc.		57,773		3,782,398
NorthWestern Corp.		85,054		5,088,781
Otter Tail Corp.		65,094		2,894,079
PNM Resources, Inc.		131,705		5,004,790
Portland General Electric Co.		147,913		7,090,949
Spark Energy, Inc., Class A		18,805		117,907
Unitil Corp.		23,567		1,233,025
				50,417,516
Utilities: Gas Distributors — 1.1%
Chesapeake Utilities Corp.(b)		26,885		2,304,313
New Jersey Resources Corp.		157,977		5,366,479
Northwest Natural Holding Co.		50,060		3,091,205
RGC Resources, Inc.		12,427		359,513
South Jersey Industries, Inc.		153,772		3,844,300
Southwest Gas Holdings, Inc.		89,997		6,260,191
Spire, Inc.		82,314		6,130,747
				27,356,748
Utilities: Miscellaneous — 0.2%
Ormat Technologies, Inc.		65,724		4,446,886
Utilities: Telecommunications — 1.2%
8x8, Inc.(a)(b)		160,268		2,221,314

Security	Shares		Value
Utilities: Telecommunications (continued)
ATN International, Inc.		18,529	$	1,087,838
Boingo Wireless, Inc.(a)		72,600		770,286
Cincinnati Bell, Inc.(a)(b)		61,447		899,584
Cogent Communications Holdings, Inc.		70,248		5,758,229
Consolidated Communications Holdings, Inc.		118,584		539,557
Frontier Communications Corp.(a)(b)		153,873		58,472
GTT Communications, Inc.(a)(b)		54,523		433,458
IDT Corp., Class B(a)		29,085		157,641
Iridium Communications, Inc.(a)		164,360		3,670,159
j2 Global, Inc.		77,523		5,802,597
ORBCOMM, Inc.(a)		114,678		279,814
Shenandoah Telecommunications Co.(b)		79,813		3,930,790
Spok Holdings, Inc.		35,261		376,940
Vonage Holdings Corp.(a)		376,532		2,722,326
				28,709,005
Utilities: Water — 0.6%
American States Water Co.		60,729		4,963,989
Artesian Resources Corp., Class A		13,005		486,127
California Water Service Group		79,773		4,014,177
Consolidated Water Co. Ltd.		27,377		448,983
Global Water Resources, Inc.		18,165		185,101
Middlesex Water Co.		27,518		1,654,382
Pure Cycle Corp.(a)(b)		30,008		334,589
SJW Group		44,054		2,545,000
York Water Co.		21,139		918,701
				15,551,049
Total Common Stocks — 97.8% (Cost — $2,978,160,124)				2,408,980,654
Investment Companies — 0.9%
Equity Funds — 0.9%
iShares Russell 2000 ETF(d)(f)		190,986		21,860,258
Total Investment Companies — 0.9% (Cost — $21,477,609)				21,860,258
Total Long-Term Investments — 98.7% (Cost — $2,999,637,733)				2,430,840,912
Short-Term Securities — 11.7%
BlackRock Cash Funds: Institutional, SL Agency Shares,     1.35%(d)(e)(f)		254,771,274		254,720,319

23

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series (Percentages shown are based on Net Assets)

Security	Shares		Value
Short-Term Securities (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares,     0.25% (d)(f)		32,755,776	$	32,755,776
Total Short-Term Securities — 11.7% (Cost — $287,521,337)				287,476,095

	Value
Total Investments — 110.4% (Cost — $3,287,159,070)	$	2,718,317,007
Liabilities in Excess of Other Assets — (10.4)%		(256,999,240	)
Net Assets — 100.0%	$	2,461,317,767

^(a)  Non-income producing security.

^(b)  Security, or a portion of the security, is on loan.

^(c)  Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(d)  Annualized 7-day yield as of period end.

^(e)  All or a portion of the security was purchased with the cash collateral from loaned securities.

^(f)  Investments in issuers considered to be an affiliate/affiliates of the Series during the period ended March 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Shares Held at 12/31/19		Shares Purchased			Shares Sold			Shares Held at 03/31/20		Value at 03/31/20		Income			Net Realized Gain (Loss) (a)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		391,429,044		—			(136,657,770	)(b)		254,771,274	$	254,720,319	$	1,081,324	(c)	$	(47,702	)	$	(93,295	)
BlackRock Cash Funds: Treasury, SL Agency Shares		28,859,257		3,896,519	(b)		—			32,755,776		32,755,776		130,494			—			—
iShares Russell 2000 ETF		97,425		472,615			(379,054	)		190,986		21,860,258		47,066			(3,144,010	)		(1,731,281	)
PennyMac Financial Services, Inc.		3,162		—			—			3,162		69,912		379			—			(37,722	)
PennyMac Mortgage Investment Trust		134,041		29,878			—			163,919		1,740,820		—			—			(1,665,201	)
											$	311,147,085	$	1,259,263		$	(3,191,712	)	$	(3,527,499	)

^(a)  Includes net capital gain distributions, if applicable.

^(b)  Represents net shares purchased (sold).

^(c)  All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

For Series compliance purposes, the Series’ industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Portfolio Abbreviations
ETF	Exchange-Traded Fund
MBIA	Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.)
REIT	Real Estate Investment Trust

24

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value / Unrealized Appreciation (Depreciation)
Long Contracts
Russell 2000 E-Mini Index		563		06/19/20	$	32,305	$	1,649,241

OTC Total Return Swaps ^(a)

Reference Entity	Counterparty	Termination Date		Net Notional			Unrealized Appreciation (Depreciation)			Net Value of Reference Entity		Gross Notional Amount Net Asset Percentage
Equity Securities Long:	JPMorgan Chase Bank N.A.		02/08/23		USD	1,600,320	$	(73,660	)(b)	$	1,524,623		0.07	%
	Goldman Sachs. & Co.		02/27/23		USD	1,465,783		158,918	(c)		1,616,886		0.06
							$	85,258		$	3,141,509

^(a)  The Series’ receives the total return on a portfolio of long positions underlying the total return swap. In addition, the Series pays a variable rate of interest, based on a specified benchmark, plus or minus a spread of 65 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest:

USD — 1D Overnight Bank Funding Rate

USD — 1D Overnight Fed Funds Effective Rate

^(b)  Amount includes $2,037 of net dividends and financing fees.

^(c)  Amount includes $7,815 of net dividends and financing fees.

25

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series     

The following table represents the individual long positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of March 31, 2020 termination date 02/08/23

	Shares		Value		% of Basket Value
Reference Entity — Long
Banks: Diversified
Banner Corp.		1,694	$	55,970		3.7	%
Boston Private Financial Holdings, Inc.		8,372		59,860		3.9
Central Pacific Financial Corp.		6,077		96,624		6.4
Community Bank System, Inc.		6,139		360,973		23.7
Hanmi Financial Corp.		7,638		82,872		5.4
United Community Banks, Inc.		17,230		315,481		20.7
				971,780
Banks: Savings, Thrift & Mortgage Lending
Brookline Bancorp, Inc.		11,206		126,404		8.3
Computer Services Software & Systems
Mitek Systems, Inc.		19,025		149,917		9.8
Insurance: Multi-Line
Horace Mann Educators Corp.		2,047		74,900		4.9
Leisure Time
Clarus Corp.		4,991		48,912		3.2
Utilities: Telecommunications
Cincinnati Bell, Inc.		10,431		152,710		10.0
Total Reference Entity — Long				1,524,623
Net Value of Reference Entity — JPMorgan Chase Bank N.A.			$	1,524,623

The following table represents the individual long positions and related values of the equity securities underlying the total return swap with Goldman Sachs & Co. as of March 31, 2020 termination date 02/27/23

	Shares		Value		% of Basket Value
Reference Entity — Long
Banks: Diversified
Boston Private Financial Holdings, Inc.		6,477	$	46,310		2.9	%
Columbia Banking System, Inc.		4,502		120,654		7.4
First Financial Bancorp		2,354		35,098		2.2
First Midwest Bancorp, Inc.		2,825		37,389		2.3
Great Western Bancorp, Inc.		5,481		112,251		6.9
Hanmi Financial Corp.		1,899		20,604		1.3
United Community Banks, Inc.		18,518		339,065		21.0
				711,371
Electronic Components
Acacia Research Corp.		57,405		127,439		7.9
Insurance: Life
American Equity Investment Life Holding Co.		2,656		49,933		3.1
Insurance: Multi-Line
PICO Holdings, Inc.		13,289		103,388		6.4
Insurance: Property-Casualty
Employers Holdings, Inc.		10,767		436,171		27.0
ProAssurance Corp.		3,641		91,025		5.6
Stewart Information Services Corp.		3,658		97,559		6.0
				624,755
Total Reference Entity — Long				1,616,886
Net Value of Reference Entity — Goldman Sachs & Co.			$	1,616,886

26

Schedule of Investments  (unaudited) (continued) March 31, 2020 Master Small Cap Index Series     

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Series has the ability to access

• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Series’ policy regarding valuation of investments and derivative financial instruments, refer to the Series’ most recent financial statements as contained in its annual report.

The following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy:

	Level 1		Level 2			Level 3		Total
Assets:
Investments:
Long-Term Investments:(a)
Common Stocks	$	2,408,960,337	$	—		$	20,317	$	2,408,980,654
Investment Companies		21,860,258		—			—		21,860,258
Short-Term Securities		287,476,095		—			—		287,476,095
	$	2,718,296,690	$	—		$	20,317	$	2,718,317,007
Derivative Financial Instruments(b)
Assets:
Equity contracts	$	1,649,241	$	158,918		$	—	$	1,808,159
Liabilities:
Equity contracts		—		(73,660	)		—		(73,660	)
	$	1,649,241	$	85,258		$	—	$	1,734,499

^(a)  See above Schedule of Investments for values in each industry

^(b)  Derivative financial instruments are swaps and futures contracts. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

27