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 Funds 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 marketcorroborated 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 Committees (the Global Valuation Committees) 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 Funds policy regarding valuation of investments, refer to the Funds 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 | ||||||
Peoples 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 | ||||||
Chuys 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 | ||||||
BJs Wholesale Club Holdings, Inc.(a)(b) |
184,964 | 4,711,033 | ||||||
Dillards, 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 | ||||||
Brinks 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 | ||||||
Natures 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 | ||||||
Franks 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., |
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 | ||||||
Alexanders, 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 | ||||||
BJs 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 & Busters Entertainment, Inc. |
53,285 | 696,968 | ||||||
Del Taco Restaurants, Inc.(a) |
44,875 | 153,921 | ||||||
Dennys 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 Alexanders 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 | ||||||
Nathans Famous, Inc. |
4,875 | 297,375 | ||||||
Noodles & Co.(a) |
46,975 | 221,252 | ||||||
Papa Johns 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 | ||||||
Ruths 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 | ||||||
Aarons, Inc. |
112,191 | 2,555,711 | ||||||
Abercrombie & Fitch Co., Class A |
104,356 | 948,596 | ||||||
Americas 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 | ||||||
Chicos FAS, Inc. |
188,869 | 243,641 | ||||||
Childrens Place, Inc. |
23,887 | 467,230 | ||||||
Citi Trends, Inc. |
18,654 | 166,021 | ||||||
Conns, 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 | ||||||
Sportsmans 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 | ||||||
Tillys, 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., |
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% |
|
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% |
|
21,860,258 | ||||||
|
|
|||||||
Total Long-Term Investments 98.7% |
|
2,430,840,912 | ||||||
|
|
|||||||
Short-Term Securities 11.7% |
| |||||||
BlackRock Cash Funds: Institutional, |
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, |
32,755,776 | $ | 32,755,776 | |||||
|
|
|||||||
Total Short-Term Securities 11.7% |
|
287,476,095 | ||||||
|
|
Value | ||||||
Total Investments 110.4% |
$ | 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 Appreciation |
||||||||||||||||||||||||
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 |
||||||||||||
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 (Depreciation) |
Net Value of 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 Committees (the Global Valuation Committees) 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