0001145549-20-034459.txt : 20200612 0001145549-20-034459.hdr.sgml : 20200612 20200612153101 ACCESSION NUMBER: 0001145549-20-034459 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200612 DATE AS OF CHANGE: 20200612 EFFECTIVENESS DATE: 20200612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MASTER ADVANTAGE U.S. TOTAL MARKET LLC CENTRAL INDEX KEY: 0001114697 IRS NUMBER: 223750161 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-10095 FILM NUMBER: 20960069 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: MASTER VALUE OPPORTUNITIES LLC DATE OF NAME CHANGE: 20070719 FORMER COMPANY: FORMER CONFORMED NAME: MASTER Value Opportunities Trust DATE OF NAME CHANGE: 20040726 FORMER COMPANY: FORMER CONFORMED NAME: MASTER SMALL CAP VALUE TRUST DATE OF NAME CHANGE: 20000515 0001114697 S000002322 Master Advantage U.S. Total Market LLC C000006078 Master Advantage U.S. Total Market LLC N-CEN 1 primary_doc.xml X0201 N-CEN LIVE 0001114697 XXXXXXXX false false false N-1A true Master Advantage U.S. Total Market LLC 811-10095 0001114697 MAYAGTZFIOSZXVSXYZ86 100 Bellevue Parkway Wilmington 19809 US-DE US 800-441-7762 The Bank of New York Mellon 240 Greenwich Street New York 10286 212-495-1784 Records related to its functions as custodian. BlackRock Investments, LLC 40 East 52nd Street New York 10022 609-282-3046 Records related to its functions as distributor. BlackRock Advisors, LLC 100 Bellevue Parkway Wilmington 19809 302-797-2000 Records related to its functions as advisor and administrator. BNY Mellon Investment Servicing (US) Inc. 301 Bellevue Parkway Wilmington 19809 302-791-1700 Records related to its functions as transfer agent, sub-administrator and accounting agent. N N N-1A 1 N Robert Fairbairn 004992372 Y Bruce R. Bond N/A N Lena G. Goldberg N/A N Henry R. Keizer N/A N Donald C. Opatrny N/A N John M. Perlowski N/A Y Susan J. Carter N/A N Collette Chilton N/A N Neil A. Cotty N/A N Cynthia A. Montgomery N/A N Joseph P. Platt N/A N Kenneth L. Urish 005352005 N Claire A. Walton N/A N Mark Stalnecker N/A N Charles Park N/A 55 East 52nd Street New York 10055 XXXXXX N N N N N N BlackRock Investments, LLC 008-48436 000038642 54930061FBHCKXL2G714 Y N Deloitte & Touche LLP 34 N/A N N N N N N N Master Advantage U.S. Total Market LLC S000002322 MAYAGTZFIOSZXVSXYZ86 N 0 0 0 N N Y N N BlackRock Investment Management, LLC 5493006MRTEZZ4S4CQ20 Y N Revenue sharing split Cash collateral reinvestment fee Other Rebates paid to borrowers 2479912.000000000000 35742.000000000000 Rule 12d1-1 (17 CFR 270.12d1-1) Rule 32a-4 (17 CFR 270.32a-4) Y Y N N BlackRock Advisors, LLC 801-47710 000106614 5493001LN9MRM6A35J74 N BNY Mellon Investment Servicing (US) Inc. 084-01761 549300CFZQLI9QMJ1Z03 N N N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N N BofA Securities, Inc. 549300HN4UKV1E2R3U73 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) Citigroup Global Markets Inc. 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AC28XWWI3WIBK2824319 N Y Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6) CIBC Mellon Trust Company 549300IYUUH221WBZ505 CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N BLACKROCK ADVISORS, LLC 5493001LN9MRM6A35J74 Y N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y N BLACKROCK EXECUTION SERVICES 008-48719 000039438 549300HFCRQ0NT5KY652 0.000000000000 BLACKROCK INVESTMENTS, LLC 008-48436 000038642 54930061FBHCKXL2G714 0.000000000000 BOFA SECURITIES, INC. 008-69787 000283942 549300HN4UKV1E2R3U73 11867.000000000000 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 13062.000000000000 CitiGroup Global Markets Inc. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 11785.000000000000 CREDIT SUISSE SECURITIES (USA) LLC 008-00422 000000816 1V8Y6QCX6YMJ2OELII46 12402.000000000000 Cowen and Company, LLC 008-22522 000007616 549300WR155U7DVMIW58 6401.000000000000 WELLS FARGO SECURITIES, LLC 008-65876 000126292 VYVVCKR63DVZZN70PB21 6897.000000000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 9277.000000000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 10985.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 7023.000000000000 UBS Securities LLC 008-22651 000007654 T6FIZBDPKLYJKFCRVK44 10948.000000000000 156389.000000000000 Goldman Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 349790.000000000000 BlackRock Liquidity Funds T-Fund N/A N/A 5493002L9DNZ83RX7V61 139975476.000000000000 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 2083627.000000000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 1276742.000000000000 CitiGroup Global Markets Inc. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 394336.000000000000 144079971.000000000000 Y 393901778.000000000000 0.000000000000 Committed 1750000000.000000000000 N N N N true INTERNAL CONTROL RPT 2 masteradvanustotalmkt.htm PDFtoHTML Conversion Output

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

TO THE INVESTOR AND BOARD OF DIRECTORS OF MASTER ADVANTAGE U.S. TOTAL MARKET LLC:

In planning and performing our audit of the financial statements of Master Advantage U.S. Total Market LLC. (the "Fund"), as of and for the year ended March 31, 2020, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of March 31, 2020.

This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

Deloitte & Touche LLP

Boston, Massachusetts

May 22, 2020