Quantitative Master Series N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07899 and 811-07855

Name of Fund:  BlackRock Index Funds, Inc.

    BlackRock International Index Fund

    BlackRock Small Cap Index Fund

  Quantitative Master Series LLC

    Master International Index Series

    Master Small Cap Index Series

Fund Address:  100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Index Funds, Inc.

            and Quantitative Master Series LLC, 55 East 52^nd Street, New York, NY 10055

Registrants’ telephone number, including area code: (800) 441-7762

Date of fiscal year end: 12/31/2014

Date of reporting period: 06/30/2014

Item 1 – Report to Stockholders

JUNE 30, 2014

  SEMI-ANNUAL REPORT (UNAUDITED)  

BlackRock Index Funds, Inc.

^Ø   BlackRock International Index Fund

^Ø   BlackRock Small Cap Index Fund

Not FDIC Insured • May Lose Value • No Bank Guarantee

Table of Contents

	Page
Shareholder Letter		3
Semi-Annual Report:
Fund Summary		4
About Fund Performance		8
Disclosure of Expenses		8
Derivative Financial Instruments		8
Fund Financial Statements:
Statements of Assets and Liabilities		9
Statements of Operations		10
Statements of Changes in Net Assets		11
Fund Financial Highlights		12
Fund Notes to Financial Statements		18
Series Portfolio Information		22
Series Financial Statements:
Schedules of Investments		23
Statements of Assets and Liabilities		53
Statements of Operations		54
Statements of Changes in Net Assets		55
Series Financial Highlights		56
Series Notes to Financial Statements		57
Disclosure of Investment Advisory Agreement		64
Officers and Directors		68
Additional Information		69
A World-Class Mutual Fund Family		71

2 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Shareholder Letter

Dear Shareholder,

The latter half of 2013 was a strong period for equities and other risk assets such as high yield bonds, despite the mixed tone of economic and financial news and uncertainty as to when and by how much the U.S. Federal Reserve (the “Fed”) would begin to gradually reduce (or “taper”) its asset purchase programs. Stock markets rallied in September when the Fed defied investors’ expectations with its decision to delay tapering. The momentum was soon disrupted, however, when political brinksmanship over decisions relating to the U.S. debt ceiling led to a partial government shutdown, roiling financial markets broadly until a compromise was struck in mid-October. The remainder of 2013 was generally positive for developed market stocks, while fixed income and emerging market investments struggled as Fed tapering became increasingly imminent. When the central bank ultimately announced its tapering plans in mid-December, equity investors reacted positively, as this action signaled the Fed’s perception of real improvement in the economy.

Financial markets continued to move higher in the first half of 2014 despite the gradual pull back in Fed stimulus. The year got off to a rocky start, however. A number of emerging economies showed signs of stress due to currency weakness, debt problems and uneven growth rates, while facing the broader headwind of diminishing global liquidity. Heightened risks in emerging markets combined with disappointing U.S. economic data caused equities to decline in January while bond markets found renewed strength from investors seeking relatively safer assets.

Although these headwinds persisted, equities were back on the rise in February as investors were encouraged by a one-year extension of the U.S. debt ceiling and market-friendly comments from the new Fed Chairwoman, Janet Yellen. While it was clear that U.S. economic data had softened, investors were assuaged by increasing evidence that the trend was temporary and weather-related, and continued to take on risk given expectations that growth would pick up later in the year.

In the months that followed, interest rates trended lower and bond prices climbed higher in the modest growth environment. Financial markets exhibited a remarkably low level of volatility despite rising geopolitical risks and mixed global economic data. Tensions in Russia and Ukraine and signs of decelerating growth in China caused some turbulence, but markets were resilient as investors focused on better U.S. economic data, stronger corporate earnings and increased merger-and-acquisition activity. Additionally, investors were comforted by comments from the Fed offering reassurance that no changes to short-term interest rates were on the horizon. Equity investors shifted from growth to value stocks as the strong performance of growth stocks in 2013 had pushed valuations higher in many of these sectors. More broadly, the strongest performers of 2013 struggled most in 2014, and vice versa. Emerging markets particularly benefited from this rotation into cheaper valuations. For investors in these markets, technical factors overshadowed the risks and emerging market investments surged even as a military coup in Thailand was added to the growing list of geopolitical issues in May.

Escalating violence in Iraq pushed oil prices sharply higher in June, causing a brief dip in stock markets around the world as investors were reminded of the broader risk that instability in the Middle East and North Africa poses to global oil production, although oil prices retreated later in the month. Improving U.S. data and a steady stream of mergers and acquisitions again took center stage and equities quickly resumed their upward course. Additionally, global investors were encouraged by aggressive measures taken by the European Central Bank to combat the uncomfortably low level of inflation in the eurozone, while the Fed continued to maintain a dovish stance.

All told, the riskier asset classes strongly outperformed higher quality investments for the 12-month period ended June 30. Nonetheless, most fixed income assets performed surprisingly well in the first half of 2014 even as the Fed reduced its open-market bond purchases. U.S. large cap stocks were the strongest performers in both the six- and 12-month periods, while small cap stocks lagged in the last six months given higher valuations resulting from their strong performance in 2013. Short-term interest rates remained near zero, keeping yields on money market securities close to historic lows.

At BlackRock, we believe investors need to think globally, extend their scope across a broad array of asset classes and be prepared to move freely as market conditions change over time. We encourage you to talk with your financial advisor and visit blackrock.com for further insight about investing in today’s world.

Sincerely,

Rob Kapito

President, BlackRock Advisors, LLC

Asset prices pushed higher over the period despite modest global growth, geopolitical risks and a shift toward tighter U.S. monetary policy.

Rob Kapito

President, BlackRock Advisors, LLC

Total Returns as of June 30, 2014
	6-month			12-month
U.S. large cap equities (S&P 500® Index)		7.14	%		24.61	%
U.S. small cap equities (Russell 2000® Index)		3.19			23.64
International equities (MSCI Europe, Australasia, Far East Index)		4.78			23.57
Emerging market equities (MSCI Emerging Markets Index)		6.14			14.31
3-month Treasury bills (BofA Merrill Lynch 3-Month U.S. Treasury Bill Index)		0.02			0.05
U.S. Treasury securities (BofA Merrill Lynch 10-Year U.S. Treasury Index)		6.13			2.84
U.S. investment-grade bonds (Barclays U.S. Aggregate Bond Index)		3.93			4.37
Tax-exempt municipal bonds (S&P Municipal Bond Index)		6.07			6.08
U.S. high yield bonds (Barclays U.S. Corporate High Yield 2% Issuer Capped Index)		5.46			11.72
Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

THIS PAGE NOT PART OF YOUR FUND REPORT 3

Fund Summary as of June 30, 2014 BlackRock International Index Fund

Investment Objective

BlackRock International Index Fund’s (the “Fund”), a series of BlackRock Index Funds, Inc. (the “Corporation”), investment objective is to match the performance of the MSCI EAFE Index (Europe, Australasia, Far East) (the “MSCI EAFE Index”) in U.S. dollars with net dividends as closely as possible before the deduction of Fund expenses.

Portfolio Management Commentary

How did the Fund perform?

Ÿ For the six months ended June 30, 2014, the Fund’s Institutional Shares returned 4.65%, Investor A Shares returned 4.53% and Class K Shares returned 4.73%. The benchmark MSCI EAFE Index returned 4.78% for the same period. The MSCI EAFE Index is a free float-adjusted, market capitalization-weighted index designed to measure equity performance of developed markets, excluding the United States and Canada.

Ÿ Returns for the Fund’s respective share classes differ from the benchmark index based on individual share-class expenses. The Fund invests all of its assets in Master International Index Series (the “Series”), a series of Quantitative Master Series LLC.

Describe the market environment.

Ÿ Despite high valuations resulting from last year’s strong rally, investors continued to favor equities in the first half of 2014, pushing major indices to record highs during the period. However, not all segments of the market advanced as many of last year’s winners struggled, including many biotechnology and internet-related companies. Broadly speaking, 2014 brought a swift reversal away from the prevailing momentum stocks of 2013 and a rotation from growth to value stocks. Additionally, market volatility remained well below historical norms, a trend that has continued for several quarters, suggesting that investors have become complacent in an environment where easy monetary conditions and low default rates have served to counteract growing geopolitical risk.

Ÿ The year got off to a rocky start, however, as heightened risks in emerging markets compelled investors to pull back from risk assets generally. A number of emerging economies struggled with currency weakness, debt problems and uneven growth rates while facing the broader headwind of diminishing global liquidity as the U.S. Federal Reserve (the “Fed”) began tapering its stimulus program. Signs of further deceleration in Chinese economic growth were particularly worrisome. Meanwhile, disappointing corporate earnings reports and softer economic data in the United States dampened sentiment for the broader global economy.

Ÿ International equities were back on the rise in February, with a significant surge in European stocks. Despite an uncomfortable low inflation environment, fourth-quarter European gross domestic product (“GDP”) growth came in slightly higher than expected, driven largely by stronger growth in France and Germany. Signs of a strengthening economic recovery combined with hopes that the European Central Bank (“ECB”) would soon take measures to combat the uncomfortably low level of inflation in the eurozone fueled a rally in Europe’s stock markets.

Ÿ Market volatility increased in March due to rising tensions between Russia and Ukraine over the disputed region of Crimea. Investors feared the impact of potential international sanctions and the threat of rising oil prices. More evidence of decelerating growth in China added to the air of uncertainty. Yet, markets were resilient amid heightened expectations for policy action from the ECB given rising deflationary risk. At the same time, improvements in U.S. economic data and corporate earnings lifted investor sentiment broadly, while dovish comments from the Fed helped push the world’s stock markets higher. The ECB ultimately took policy action in early June, including the implementation of a negative deposit rate, a move that has never before been attempted by a major central bank. In contrast, the Bank of Japan disappointed with its decision to refrain from expanding its asset purchase program even as the nation continued to struggle with slowing economic momentum, causing Japanese equities to lag other developed world markets.

Ÿ Escalating violence in Iraq pushed oil prices sharply higher in June, resulting in small declines across stock markets globally as investors were reminded of the broader risk that instability in the Middle East and Africa poses to global oil production. However, a steady stream of mergers and acquisitions took center stage and, against the backdrop of ongoing stimulus from the Fed and ECB, equity markets soon resumed their upward course.

Ÿ U.K. and Japanese stocks, which represent the largest weightings in the MSCI EAFE Index composition, gained 5.17% and 0.68% (in U.S. dollar terms), respectively, for the six-month period. Other markets with notable weightings in the index generated positive returns including Switzerland (+6.93%), France (+4.65%) and Germany (+1.31%). Of the 21 developed markets represented in the index, the strongest performers were Israel (+21.09%), Denmark (+19.72%), New Zealand (+14.98%), Italy (+14.45%), Spain (+12.29%), Norway (+12.26%) and Australia (+8.82%). Austria was the only market in the index to produce negative results for the period (-3.36%).

Describe recent portfolio activity.

Ÿ During the period, as changes were made to the composition of the MSCI EAFE Index, the Series purchased and sold securities to maintain its objective of replicating the risks and return of the benchmark index.

Describe portfolio positioning at period end.

Ÿ The Series remains positioned to match the risk characteristics of its benchmark index, irrespective of the future direction of international markets.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

4 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

BlackRock International Index Fund

Total Return Based on a $10,000 Investment

¹  Assuming transaction costs and other operating expenses, including administration fees, if any.

²  The Fund invests all of its assets in the Series. The Series invests in a statistically selected sample of equity securities included in the MSCI EAFE Index and in derivative instruments linked to the MSCI EAFE Index.

³  This unmanaged index is a free-float adjusted, market capitalization-weighted index designed to measure equity performance of developed markets, excluding the United States and Canada.

Performance Summary for the Period Ended June 30, 2014

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		4.65	%		23.16	%		11.38	%		6.59	%
Investor A		4.53			22.89			11.10			6.31
Class K5		4.73			23.31			11.44			6.64
MSCI EAFE Index		4.78			23.57			11.77			6.93

⁴  Average annual total returns reflect reductions for service fees, if any. See “About Fund Performance” on page 8 for a detailed description of share classes, including any related fees.

⁵  Class K Shares commenced operations on March 31, 2011.

Past performance is not indicative of future results.

Expense Example

	Actual						Hypothetical7
	Beginning Account Value January 1, 2014		Ending Account Value June 30, 2014		Expenses Paid During the Period6		Beginning Account Value January 1, 2014		Ending Account Value June 30, 2014		Expenses Paid During the Period6		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,046.50	$	1.87	$	1,000.00	$	1,023.65	$	1.15		0.23	%
Investor A	$	1,000.00	$	1,045.30	$	2.43	$	1,000.00	$	1,022.41	$	2.41		0.48	%
Class K	$	1,000.00	$	1,047.30	$	0.86	$	1,000.00	$	1,023.95	$	0.85		0.17	%

⁶  For each class of the Fund, expenses are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period shown). Because the Fund invests all of its assets in the Series, the expense example reflects the net expenses of both the Fund and the Series.

⁷  Hypothetical 5% return before expenses is calculated by pro rating the number of days in the most recent fiscal half year divided by 365.

See “Disclosure of Expenses” on page 8 for further information on how expenses were calculated.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 5

Fund Summary as of June 30, 2014 BlackRock Small Cap Index Fund

Investment Objective

BlackRock Small Cap Index Fund’s (the “Fund”), a series of BlackRock Index Funds, Inc. (the “Corporation”), investment objective is to match the performance of the Russell 2000^® Index (the “Russell 2000^®”) as closely as possible before the deduction of Fund expenses.

Portfolio Management Commentary

How did the Fund perform?

Ÿ For the six months ended June 30, 2014, the Fund’s Institutional Shares returned 3.08%, Investor A Shares returned 2.97% and Class K Shares returned 3.08%. The benchmark Russell 2000^® Index returned 3.19% for the same period.

Ÿ Returns for the Fund’s respective share classes differ from the benchmark index based on individual share-class expenses. The Fund invests all of its assets in Master Small Cap Index Series (the “Series”), a series of Quantitative Master Series LLC.

Describe the market environment.

Ÿ Despite high valuations resulting from last year’s strong rally, investors continued to favor equities in the first half of 2014. However, not all segments of the market advanced as many of last year’s winners struggled, including many biotechnology and internet-related companies as well as retailers. Small cap stocks underperformed the broader U.S. equity market given relatively high valuations resulting from their strong performance in 2013. Broadly speaking, 2014 brought a swift reversal away from the prevailing momentum stocks of 2013 and a rotation from growth to value stocks. Additionally, market volatility remained well below historical norms, a trend that has continued for several quarters, suggesting that investors have become complacent in an environment where easy monetary conditions and low default rates have served to counteract growing geopolitical risk.

Ÿ The year got off to a rocky start, however, as heightened risks in emerging markets compelled investors to pull back from risk assets generally. A number of emerging economies struggled with currency weakness, debt problems and uneven growth rates while facing the broader headwind of diminishing global liquidity as the Fed began tapering its stimulus program. Signs of further deceleration in Chinese economic growth were particularly worrisome. Meanwhile, disappointing corporate earnings reports and softer economic data in the United States also contributed to the sell-off in equities.

Ÿ U.S. equities were back on the rise in February due in part to positive developments in Washington, D.C. Fiscal uncertainty abated with the extension of the U.S. debt ceiling. Additionally, investors were encouraged by market-friendly comments from the new Fed Chairwoman, Janet Yellen. Although U.S. economic data had weakened, most investors viewed this recent trend as temporary and continued to take on U.S. equity risk given expectations that growth would pick up later in the year.

Ÿ Market volatility increased in March due to rising tensions between Russia and Ukraine over the disputed region of Crimea. Investors feared the impact of potential international sanctions and the threat of rising oil prices. More evidence of decelerating growth in China added to the air of uncertainty. Yet, markets were resilient as investors turned their focus to improving U.S. economic data, positive corporate earnings surprises and increased merger and acquisition activity. Dovish comments from the Fed also helped push U.S. stocks higher.

Ÿ Escalating violence in Iraq pushed oil prices sharply higher in June, causing stock prices to fall as investors were reminded of the broader risk that instability in the Middle East and Africa poses to global oil production. However, a steady stream of mergers and acquisitions again took center stage and, against the backdrop of ongoing Fed stimulus, U.S. equities quickly resumed their upward course.

Ÿ As the global economy continued its slow recovery, improving U.S. data garnered a good deal of investors’ attention during the period. Following a first quarter of disappointing economic reports, better data in the second quarter ultimately confirmed that the recent weakness had been temporary and largely weather-related. In June, revised gross domestic product (“GDP”) numbers revealed that the U.S. economy had contracted much more than expected in the first quarter. While this news came as a surprise, it was no longer important as compared to more recent data showing improvements in the labor market and manufacturing. Nonetheless, a low labor participation rate, anemic wage growth and lackluster consumption continued to weigh on U.S. growth. While the global recovery has remained generally on track, mixed economic reports in the first half of the year resulted in the World Bank lowering its 2014 global growth forecast to 2.8% in June from its January forecast of 3.2%.

Describe recent portfolio activity.

Ÿ During the period, as changes were made to the composition of the Russell 2000^® Index, the Series purchased and sold securities to maintain its objective of replicating the risks and return of the benchmark index.

Describe portfolio positioning at period end.

Ÿ The Series remains positioned to match the risk characteristics of its benchmark index, irrespective of the market’s future direction.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

6 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

BlackRock Small Cap Index Fund

Total Return Based on a $10,000 Investment

¹  Assuming transaction costs and other operating expenses, including administration fees, if any.

²  The Fund invests all of its assets in the Series. The Series may invest in a statistically selected sample of the stocks included in the Russell 2000^® Index and in derivative instruments linked to the Russell 2000^® Index.

³  This unmanaged index is a subset of the Russell 3000^® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership.

Performance Summary for the Period Ended June 30, 2014

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		3.08	%		23.51	%		20.04	%		8.38	%
Investor A		2.97			23.18			19.74			8.11
Class K5		3.08			23.53			20.11			8.43
Russell 2000® Index		3.19			23.64			20.21			8.70

⁴  Average annual total returns reflect reductions for service fees, if any. See “About Fund Performance” on page 8 for a detailed description of share classes, including related fees, if any.

⁵  Class K commenced operations on March 31, 2011.

    Past performance is not indicative of future results.

Expense Example

	Actual						Hypothetical7
	Beginning Account Value January 1, 2014		Ending Account Value June 30, 2014		Expenses Paid During the Period6		Beginning Account Value January 1, 2014		Ending Account Value June 30, 2014		Expenses Paid During the Period6		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,030.80	$	1.26	$	1,000.00	$	1,023.55	$	1.25		0.25	%
Investor A	$	1,000.00	$	1,029.70	$	2.52	$	1,000.00	$	1,022.32	$	2.51		0.50	%
Class K	$	1,000.00	$	1,030.80	$	0.96	$	1,000.00	$	1,023.85	$	0.95		0.19	%

⁶  For each class of the Fund, expenses are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period shown). Because the Fund invests all of its assets in the Series, the expense example reflects the net expenses of both the Fund and the Series.

⁷  Hypothetical 5% annual return before expenses is calculated by pro rating the number of days in the most recent fiscal half year divided by 365.

    See “Disclosure of Expenses” on page 8 for further information on how expenses were calculated.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 7

About Fund Performance

Ÿ Institutional and Class K Shares are not subject to any sales charge. These shares bear no ongoing distribution or service fees and are available only to certain eligible investors. Prior to March 31, 2011, Class K Shares’ performance results are those of Institutional Shares restated to reflect Class K Shares’ fees.

Ÿ Investor A Shares are not subject to any sales charge and bear no ongoing distribution fee. These shares are subject to an ongoing service fee of 0.25% per year.

Performance information reflects past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to www.blackrock.com/funds to obtain performance data current to the most recent month end. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Figures shown in the performance tables on the previous pages assume reinvestment of all dividends and capital gain distributions, if any, at net asset value (“NAV”) on the ex-dividend date. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Dividends paid to each class of shares will vary because of the different levels of service and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders. The Funds’ administrator waived and/or reimbursed a portion of the Funds’ fees and/or expenses. Without such waiver and/or reimbursement, the Funds’ performance would have been lower.

Disclosure of Expenses

Shareholders of these Funds may incur the following charges: (a) transactional expenses, such as sales charges; and (b) operating expenses, including administration fees, service fees, including 12b-1 fees, and other Fund expenses. The expense examples on the previous pages (which are based on a hypothetical investment of $1,000 invested on January 1, 2014 and held through June 30, 2014) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other mutual funds.

The expense examples provide information about actual account values and actual expenses. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number corresponding to their Fund and share class under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in these Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in other funds’ shareholder reports.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as sales charges, if any. Therefore, the hypothetical examples are useful in comparing ongoing expenses only, and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.

Derivative Financial Instruments

The Series may invest in various derivative financial instruments, including financial futures contracts and foreign currency exchange contracts, as specified in Note 4 of the Series’ Notes to Financial Statements, which may constitute forms of economic leverage. Such derivative financial instruments are used to obtain exposure to an index and/or market without owning or taking physical custody of securities or to hedge market, foreign currency exchange rate and/or equity risks. Derivative financial instruments involve risks, including the imperfect correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the derivative financial instrument. The Series’ ability to use a derivative financial instrument successfully depends on the investment advisor’s ability to predict pertinent market movements accurately, which cannot be assured. The use of derivative financial instruments may result in losses greater than if they had not been used, may require the Series to sell or purchase portfolio investments at inopportune times or for distressed values, may limit the amount of appreciation the Series can realize on an investment, may result in lower dividends paid to shareholders or may cause the Series to hold an investment that it might otherwise sell. The Series’ investments in these instruments are discussed in detail in the Series’ Notes to Financial Statements.

8 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Statements of Assets and Liabilities

June 30, 2014 (Unaudited)	BlackRock International Index Fund			BlackRock Small Cap Index Fund
Assets
Investments at value — from Master International Index Series and Master Small Cap Index Series (each, a “Series”, respectively)1	$	423,254,603		$	149,474,663
Capital shares sold receivable		4,702,439			178,219
Withdrawals receivable from the Series		—			465,055
Receivable from administrator		1,852			900
Prepaid expenses		32,619			28,523
Total assets		427,991,513			150,147,360
Liabilities
Contributions payable to the Series		4,349,409			—
Capital shares redeemed payable		353,030			643,274
Service fees payable		69,245			17,153
Other accrued expenses payable		76,224			49,277
Total liabilities		4,847,908			709,704
Net Assets	$	423,143,605		$	149,437,656
Net Assets Consist of
Paid-in capital	$	366,761,944		$	105,165,086
Undistributed net investment income		7,468,485			817,645
Accumulated net realized gain (loss) allocated from the Series		(51,849,382	)		4,076,503
Net unrealized appreciation/depreciation allocated from the Series		100,762,558			39,378,422
Net Assets	$	423,143,605		$	149,437,656
1 Investments at cost	$	322,492,045		$	110,096,241
Net Asset Value
Institutional:
Net assets	$	79,075,456		$	61,676,992
Shares outstanding2		5,763,085			3,417,777
Net asset value	$	13.72		$	18.05
Investor A:
Net assets	$	339,505,628		$	85,717,252
Shares outstanding2		24,948,724			4,752,786
Net asset value	$	13.61		$	18.04
Class K:
Net assets	$	4,562,521		$	2,043,412
Shares outstanding2		332,345			113,066
Net asset value	$	13.73		$	18.07
2 125 million shares authorized, $0.0001 par value.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	9

Statements of Operations

Six Months Ended June 30, 2014 (Unaudited)	BlackRock International Index Fund			BlackRock Small Cap Index Fund
Investment Income
Net investment income allocated from the Series:
Dividends — unaffiliated	$	11,331,999		$	829,577
Securities lending — affiliated — net		9,879			111,855
Dividends — affiliated		156			11,677
Foreign taxes withheld		(953,922	)		(921	)
Expenses		(126,117	)		(57,093	)
Fees waived		303			3,698
Total income		10,262,298			898,793
Fund Expenses
Administration		230,903			125,462
Service — Investor A		391,942			102,113
Transfer agent — Institutional		18,952			14,409
Transfer agent — Investor A		139,023			30,558
Transfer agent — Class K		95			151
Registration		28,138			24,792
Professional		24,528			19,827
Printing		16,198			9,878
Officer		36			13
Miscellaneous		6,580			5,584
Total expenses		856,395			332,787
Less administration fees waived		(83,397	)		(93,062	)
Less transfer agent fees waived and/or reimbursed — class specific		(61,522	)		(10,407	)
Total expenses after fees waived and/or reimbursed		711,476			229,318
Net investment income		9,550,822			669,475
Realized and Unrealized Gain (Loss) Allocated from the Series
Net realized gain (loss) from investments, financial futures contracts and foreign currency transactions		(108,096	)		6,865,359
Net change in unrealized appreciation/depreciation on investments, financial futures contracts and foreign currency translations		8,842,717			(3,179,299	)
Total realized and unrealized gain		8,734,621			3,686,060
Net Increase in Net Assets Resulting from Operations	$	18,285,443		$	4,355,535

See Notes to Financial Statements.
10	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Statements of Changes in Net Assets

	BlackRock International Index Fund						BlackRock Small Cap Index Fund
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31, 2013			Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31, 2013
Operations
Net investment income	$	9,550,822		$	7,947,227		$	669,475		$	1,538,848
Net realized gain (loss)		(108,096	)		(3,186,390	)		6,865,359			9,238,334
Net change in unrealized appreciation/depreciation		8,842,717			58,864,584			(3,179,299	)		27,192,380
Net increase in net assets resulting from operations		18,285,443			63,625,421			4,355,535			37,969,562
Dividends and Distributions to Shareholders From
Net investment income:
Institutional		—			(1,625,236	)1		—			(637,619	)1
Investor A		—			(6,601,334	)1		—			(706,766	)1
Class K		—			(54,078	)1		—			(11,944	)1
Net realized gain:
Institutional		—			—			—			(1,093,818	)1
Investor A		—			—			—			(1,553,975	)1
Class K		—			—			—			(21,681	)1
Decrease in net assets resulting from dividends and distributions to shareholders		—			(8,280,648	)		—			(4,025,803	)
Capital Share Transactions
Net increase in net assets derived from capital share transactions		22,071,568			50,389,204			61,122			17,405,626
Net Assets
Total increase in net assets		40,357,011			105,733,977			4,416,657			51,349,385
Beginning of period		382,786,594			277,052,617			145,020,999			93,671,614
End of period	$	423,143,605		$	382,786,594		$	149,437,656		$	145,020,999
Undistributed (distributions in excess of) net investment income, end of period	$	7,468,485		$	(2,082,337	)	$	817,645		$	148,170
1   Determined in accordance with federal income tax regulations.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	11

Financial Highlights BlackRock International Index Fund

	Institutional
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,
				2013			2012			2011			2010			2009
Per Share Operating Performance
Net asset value, beginning of period	$	13.11		$	11.06		$	9.63		$	11.42		$	10.97		$	8.75
Net investment income1		0.33			0.32			0.33			0.35			0.25			0.23
Net realized and unrealized gain (loss)		0.28			2.04			1.45			(1.79	)2		0.53	2		2.25	2
Net increase (decrease) from investment operations		0.61			2.36			1.78			(1.44	)		0.78			2.48
Dividends from net investment income		—			(0.31	)3		(0.35	)3		(0.35	)3		(0.33	)3		(0.26	)3
Net asset value, end of period	$	13.72		$	13.11		$	11.06		$	9.63		$	11.42		$	10.97
Total Investment Return4
Based on net asset value		4.65%	5		21.52%			18.58%			(12.55)%			7.26%			28.38%
Ratios to Average Net Assets6
Total expenses		0.27%	7,8		0.40%	7		0.42%	7		0.44%	7		0.47%			0.54%
Total expenses after fees waived and/or reimbursed		0.23%	7,8		0.35%	7		0.34%	7		0.35%	7		0.46%			0.54%
Net investment income		5.09%	7,8		2.64%	7		3.22%	7		3.14%	7		2.35%			2.43%
Supplemental Data
Net assets, end of period (000)	$	79,075		$	71,826		$	52,589		$	70,169		$	112,145		$	89,889
Portfolio turnover of the Series		1%			8%			21%			6%			8%			30%

¹  Based on average shares outstanding.

²  Includes redemption fees, which are less than $0.005 per share.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
12	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Financial Highlights (continued) BlackRock International Index Fund

	Investor A
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,
				2013			2012			2011			2010			2009
Per Share Operating Performance
Net asset value, beginning of period	$	13.02		$	10.99		$	9.57		$	11.36		$	10.91		$	8.71
Net investment income1		0.31			0.29			0.30			0.31			0.23			0.21
Net realized and unrealized gain (loss)		0.28			2.02			1.45			(1.77	)2		0.52	2		2.23	2
Net increase (decrease) from investment operations		0.59			2.31			1.75			(1.46	)		0.75			2.44
Dividends from net investment income		—			(0.28	)3		(0.33	)3		(0.33	)3		(0.30	)3		(0.24	)3
Net asset value, end of period	$	13.61		$	13.02		$	10.99		$	9.57		$	11.36		$	10.91
Total Investment Return4
Based on net asset value		4.53%	5		21.20%			18.33%			(12.84)%			7.02%			28.00%
Ratios to Average Net Assets6
Total expenses		0.56%	7,8		0.69%	7		0.69%	7		0.70%	7		0.74%			0.79%
Total expenses after fees waived and/or reimbursed		0.48%	7,8		0.60%	7		0.60%	7		0.60%	7		0.73%			0.79%
Net investment income		4.82%	7,8		2.41%	7		2.90%	7		2.84%	7		2.16%			2.27%
Supplemental Data
Net assets, end of period (000)	$	339,506		$	308,624		$	223,754		$	168,266		$	163,033		$	160,964
Portfolio turnover of the Series		1%			8%			21%			6%			8%			30%

¹  Based on average shares outstanding.

²  Includes redemption fees, which are less than $0.005 per share.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	13

Financial Highlights (concluded) BlackRock International Index Fund

	Class K
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,						Period March 31, 20111 to December  31, 2011
				2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	13.11		$	11.06		$	9.63		$	11.80
Net investment income2		0.34			0.28			0.22			0.26
Net realized and unrealized gain (loss)		0.28			2.09			1.57			(2.08	)
Net increase (decrease) from investment operations		0.62			2.37			1.79			(1.82	)
Dividends from net investment income		—			(0.32	)3		(0.36	)3		(0.35	)3
Net asset value, end of period	$	13.73		$	13.11		$	11.06		$	9.63
Total Investment Return4
Based on net asset value		4.73%	5		21.57%			18.65%			(15.38	)%5
Ratio to Average Net Assets6,7
Total expenses		0.22%	8		0.36%			0.33%			0.48%	8
Total expenses after fees waived and/or reimbursed		0.17%	8		0.30%			0.29%			0.30%	8
Net investment income		5.19%	8		2.29%			2.11%			3.27%	8
Supplemental Data
Net assets, end of period (000)	$	4,563		$	2,336		$	710		$	20
Portfolio turnover of the Series		1%			8%			21%			6%

¹  Commencement of operations.

²  Based on average shares outstanding.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
14	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Financial Highlights BlackRock Small Cap Index Fund

	Institutional
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,
				2013			2012			2011			2010			2009
Per Share Operating Performance
Net asset value, beginning of period	$	17.51		$	12.99		$	11.51		$	12.21		$	9.70		$	7.71
Net investment income1		0.09			0.22			0.24			0.14			0.08			0.07
Net realized and unrealized gain (loss)		0.45			4.83			1.61			(0.69	)2		2.51	2		1.98	2
Net increase (decrease) from investment operations		0.54			5.05			1.85			(0.55	)		2.59			2.05
Dividends and distributions from:
Net investment income		—			(0.19	)3		(0.37	)3		(0.15	)3		(0.08	)3		(0.06	)3
Net realized gain		—			(0.34	)3		—			—			—			—
Total dividends and distributions		—			(0.53	)		(0.37	)		(0.15	)		(0.08	)		(0.06	)
Net asset value, end of period	$	18.05		$	17.51		$	12.99		$	11.51		$	12.21		$	9.70
Total Investment Return4
Based on net asset value		3.08%	5		39.14%			16.10%			(4.49)%			26.77%			26.67%
Ratios to Average Net Assets6
Total expenses		0.37%	7,8		0.51%	7		0.60%	7		0.61%	7		0.57%			0.56%
Total expenses after fees waived and/or reimbursed		0.25%	7,8		0.29%	7		0.28%	7		0.30%	7		0.52%			0.56%
Net investment income		1.05%	7,8		1.45%	7		1.88%	7		1.14%	7		0.80%			0.85%
Supplemental Data
Net assets, end of period (000)	$	61,677		$	60,707		$	44,328		$	49,829		$	71,443		$	55,744
Portfolio turnover of the Series		17%			22%			68%			31%			42%			43%

¹  Based on average shares outstanding.

²  Includes redemption fees, which are less than $0.005 per share.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	15

Financial Highlights (continued) BlackRock Small Cap Index Fund

	Investor A
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,
				2013			2012			2011			2010			2009
Per Share Operating Performance
Net asset value, beginning of period	$	17.52		$	13.01		$	11.51		$	12.21		$	9.71		$	7.72
Net investment income1		0.07			0.19			0.21			0.11			0.06			0.05
Net realized and unrealized gain (loss)		0.45			4.82			1.62			(0.70	)2		2.50	2		1.98	2
Net increase (decrease) from investment operations		0.52			5.01			1.83			(0.59	)		2.56			2.03
Dividends and distributions from:
Net investment income		—			(0.16	)3		(0.33	)3		(0.11	)3		(0.06	)3		(0.04	)3
Net realized gain		—			(0.34	)3		—			—			—			—
Total dividends and distributions		—			(0.50	)		(0.33	)		(0.11	)		(0.06	)		(0.04	)
Net asset value, end of period	$	18.04		$	17.52		$	13.01		$	11.51		$	12.21		$	9.71
Total Investment Return4
Based on net asset value		2.97%	5		38.72%			15.96%			(4.76	)%		26.35%			26.36%
Ratios to Average Net Assets6
Total expenses		0.65%	7,8		0.77%	7		0.88%	7		0.88%	7		0.80%			0.82%
Total expenses after fees waived and/or reimbursed		0.50%	7,8		0.55%	7		0.55%	7		0.55%	7		0.78%			0.82%
Net investment income		0.81%	7,8		1.20%	7		1.64%	7		0.88%	7		0.53%			0.59%
Supplemental Data
Net assets, end of period (000)	$	85,717		$	83,118		$	49,303		$	45,263		$	47,252		$	38,340
Portfolio turnover of the Series		17%			22%			68%			31%			42%			43%

¹  Based on average shares outstanding.

²  Includes redemption fees, which are less than $0.005 per share.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
16	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Financial Highlights (concluded) BlackRock Small Cap Index Fund

	Class K
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,						Period March 31, 20111 to December 31, 2011
				2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	17.53		$	13.01		$	11.51		$	13.17
Net investment income2		0.10			0.25			0.25			0.11
Net realized and unrealized gain (loss)		0.44			4.81			1.62			(1.62	)
Net increase (decrease) from investment operations		0.54			5.06			1.87			(1.51	)
Dividends and distributions from:
Net investment income		—			(0.20	)3		(0.37	)3		(0.15	)3
Net realized gain		—			(0.34	)3		—			—
Total dividends and distributions		—			(0.54	)		(0.37	)		(0.15	)
Net asset value, end of period	$	18.07		$	17.53		$	13.01		$	11.51
Total Investment Return4
Based on net asset value		3.08%	5		39.14%			16.30%			(11.42)%	5
Ratio to Average Net Assets6,7
Total expenses		0.34%	8		0.49%			0.68%			0.68%	8
Total expenses after fees waived and/or reimbursed		0.19%	8		0.25%			0.25%			0.25%	8
Net investment income		1.18%	8		1.57%			1.99%			1.28%	8
Supplemental Data
Net assets, end of period (000)	$	2,043			1,196			40			22
Portfolio turnover of the Series		17%			22%			68%			31%

¹  Commencement of operations.

²  Based on average shares outstanding.

³  Determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of dividends and distributions.

⁵  Aggregate total investment return.

⁶  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁷  Includes the Fund’s share of the Series’ allocated fees waived or less than 0.01%.

⁸  Annualized.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	17

Notes to Financial Statements (Unaudited) BlackRock Index Funds, Inc.

1. Organization:

BlackRock International Index Fund (“International Index”) and BlackRock Small Cap Index Fund (“Small Cap Index”) (collectively, the “Funds” or individually, a “Fund”), are each a series of BlackRock Index Funds, Inc. (the “Corporation”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Corporation is organized as a Maryland corporation. Each Fund is classified as diversified. The Funds seek to achieve their investment objectives by investing all of their assets in Master International Index Series (“Master International Index”) and Master Small Cap Index Series (“Master Small Cap Index”), respectively (collectively, the “Series” or individually, a “Series”), of Quantitative Master Series LLC (the “Master LLC”), an affiliate of the Funds, each of which has the same investment objective and strategies as the corresponding Fund. The value of the Fund’s investment in the applicable Series reflects the Fund’s proportionate interest in the net assets of the Series. The performance of the Funds is directly affected by the performance of the Series. The percentages of Master International Index and Master Small Cap Index owned by International Index and Small Cap Index at June 30, 2014 were 37.9% and 19.8%, respectively. As such the financial statements of the Series, including the Schedules of Investments, are included elsewhere in this report and should be read in conjunction with the Funds’ financial statements.

The Funds offer multiple classes of shares. Institutional Shares and Class K Shares are sold without a sales charge and only to certain eligible investors. Investor A Shares are generally sold without a front-end sales charge. All classes of shares have identical voting, dividend, liquidation and other rights and are subject to the same terms and conditions, except that Investor A Shares bear certain expenses related to the shareholder servicing of such shares. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures.

2. Significant Accounting Policies

The Funds’ financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Funds:

Valuation: U.S. GAAP defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds’ policy is to fair value their financial instruments at market value. The Fund records its investment in the Series at fair value based on the Fund’s proportionate interest in the net assets of the applicable Series. Valuation of securities held by the Series is discussed in Note 2 of the Series’ Notes to Financial Statements, which are included elsewhere in this report.

Investment Transactions and Investment Income: For financial reporting purposes, contributions to and withdrawals from the Series are accounted on a trade date basis. The Funds record daily their proportionate share of the Series’ income, expenses and realized and unrealized gains and losses. Realized and unrealized gains and losses are adjusted utilizing partnership tax allocation rules. In addition, the Funds accrue their own expenses. Income, expenses and realized and unrealized gains and losses are allocated daily to each class based on its relative net assets.

Dividends and Distributions: Dividends and distributions paid by the Funds are recorded on the ex-dividend date. The character and timing of dividends and distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Recent Accounting Standard: In June 2014, the Financial Accounting Standards Board issued guidance to improve the financial reporting of reverse repurchase agreements and other similar transactions. The guidance includes expanded disclosure requirements for entities that enter into reverse repurchase agreements and similar transactions accounted for as secured borrowings. The guidance is effective for financial statements with fiscal years beginning on or after December 15, 2014 and interim periods within those fiscal years. Management is evaluating the impact, if any, of this guidance on the Funds’ financial statement disclosures.

Other: Expenses directly related to a Fund or its classes are charged to that Fund or class. Other operating expenses shared by several funds are pro rated among those funds on the basis of relative net assets or other appropriate methods. Expenses directly related to the Fund and other shared expenses pro rated to the Fund are allocated daily to each class based on its relative net assets or other appropriate methods.

3. Administration Agreement and Other Transactions with Affiliates:

The PNC Financial Services Group, Inc. is the largest stockholder and an affiliate, for 1940 Act purposes, of BlackRock, Inc. (“BlackRock”).

The Corporation, on behalf of the Funds, entered into an Administration Agreement with BlackRock Advisors, LLC (the “Administrator”), an indirect, wholly owned subsidiary of BlackRock, to provide administrative services (other than investment advice and related portfolio activities). For such services, International Index and Small Cap Index paid the Administrator a monthly fee at an annual rate of 0.24% and 0.29%, respectively, of the average daily value of the Fund’s net assets. Effective March 21, 2014, the administration fee was reduced to 0.03% and 0.08%, respectively, of the average daily value of the Fund’s net assets. The Funds do not pay an investment advisory fee or investment management fee.

18 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Notes to Financial Statements (continued) BlackRock Index Funds, Inc.

The Administrator contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, acquired funds fees and expenses and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of the Funds’ business. Prior to March 21, 2014, the expense limitation as a percentage of average daily net assets were as follows:

	International Index		Small Cap Index
Institutional		0.35%		0.30%
Investor A		0.60%		0.55%
Class K		0.30%		0.25%

Effective March 21, 2014, the expense limitation as a percentage of average daily net assets are as follows:

	International Index		Small Cap Index
Institutional		0.14%		0.21%
Investor A		0.39%		0.46%
Class K		0.09%		0.16%

The Administrator has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2015 unless approved by the Corporation’s Board of Directors (the “Board”), including a majority of the Independent Directors. These amounts are shown as administration fees waived and transfer agent fees waived and/or reimbursed – class specific, respectively, in the Statements of Operations.

For the six months ended June 30, 2014, the amounts shown as transfer agent fees waived and/or reimbursed — class specific were as follows:

	International Index		Small Cap Index
Institutional	$	569	$	62
Investor A	$	60,859	$	10,196
Class K	$	94	$	149

In addition, the Administrator waived $83,397 and $93,062 for International Index and Small Cap Index, respectively, which are shown as administration fees waived in the Statements of Operations.

The Corporation, on behalf of the Funds, entered into a Distribution Agreement and a Distribution Plan with BlackRock Investments, LLC (“BRIL”), an affiliate of BlackRock. Pursuant to the Distribution Plan and in accordance with Rule 12b-1 under the 1940 Act, the Funds pay BRIL ongoing service fees with respect to their Investor A Shares. The fees are accrued daily and paid monthly at the annual rate of 0.25% based upon the average daily net assets attributable to Investor A Shares.

Pursuant to sub-agreements with BRIL, broker-dealers and BRIL provide shareholder servicing to the Funds. The ongoing service fee compensates BRIL and each broker-dealer for providing shareholder servicing to Investor A shareholders.

Pursuant to written agreements, certain financial intermediaries, some of which may be affiliates, provide the Funds with sub-accounting, recordkeeping, sub-transfer agency and other administrative services with respect to sub-accounts they service. For these services, these entities receive an asset based fee or an annual fee per shareholder account, which will vary depending on share class and/or net assets. For the six months ended June 30, 2014, the Funds paid the following to affiliates in return for these services, which is included in transfer agent — class specific in the Statements of Operations:

	International Index		Small Cap Index
Investor A		—	$	34

The Administrator maintains a call center, which is responsible for providing certain shareholder services to the Funds, such as responding to shareholder inquiries and processing transactions based upon instructions from shareholders with respect to the subscription and redemption of Fund shares. For the six months ended June 30, 2014, the Funds reimbursed the Administrator the following amounts for costs incurred in running the call center, which are included in transfer agent — class specific in the Statements of Operations:

	International Index		Small Cap Index
Institutional	$	181	$	20
Investor A	$	1,573	$	786
Class K	$	8	$	5

Certain officers and/or directors of the Corporation are officers and/or directors of BlackRock or its affiliates. The Funds reimburse the Administrator for a portion of the compensation paid to the Corporation’s Chief Compliance Officer.

4. Income Tax Information:

Income Taxes: It is the Funds’ policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of their taxable income to their shareholders. Therefore, no federal income tax provision is required.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 19

Notes to Financial Statements (continued) BlackRock Index Funds, Inc.

The Funds file U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Funds’ U.S. federal tax returns remains open for each of the four years ended December 31, 2013. The statutes of limitations on the Funds’ state and local tax returns may remain open for an additional year depending upon the jurisdiction.

Management has analyzed tax laws and regulations and their application to the Funds’ facts and circumstances and does not believe there are any uncertain tax positions that require recognition of a tax liability.

As of December 31, 2013, International Index had capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates as follows:

Expires December 31,	International Index
2016	$	4,270,741
2017		6,596,186
No expiration date1		28,674,114
Total	$	39,541,041

¹  Must be utilized prior to losses subject to expiration.

5. Capital Share Transactions:

Transactions in capital shares for each class were as follows:

	Six Months Ended June 30, 2014						Year Ended December 31, 2013
International Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		2,314,162		$	30,766,072			2,307,793		$	28,259,339
Shares issued to shareholders in reinvestment of dividends		—			—			118,137			1,469,546
Shares redeemed		(2,029,666	)		(27,130,222	)		(1,702,180	)		(20,394,277	)
Net increase		284,496		$	3,635,850			723,750		$	9,334,608
Investor A
Shares sold		5,977,327		$	79,493,489			8,157,663		$	97,856,110
Shares issued to shareholders in reinvestment of dividends		—			—			531,595			6,563,648
Shares redeemed		(4,734,447	)		(63,076,238	)		(5,347,646	)		(64,736,792	)
Net increase		1,242,880		$	16,417,251			3,341,612		$	39,682,966
Class K
Shares sold		242,720		$	3,167,896			142,049		$	1,709,658
Shares issued to shareholders in reinvestment of dividends		—			—			4,293			53,404
Shares redeemed		(88,524	)		(1,149,429	)		(32,374	)		(391,432	)
Net increase		154,196		$	2,018,467			113,968		$	1,371,630
Total Net Increase		1,681,572		$	22,071,568			4,179,330		$	50,389,204
Small Cap Index
Institutional
Shares sold		764,813		$	13,234,575			1,391,454		$	21,530,848
Shares issued to shareholders in reinvestment of dividends		—			—			96,233			1,594,347
Shares redeemed		(814,717	)		(14,050,171	)		(1,432,058	)		(21,790,150	)
Net increase (decrease)		(49,904	)	$	(815,596	)		55,629		$	1,335,045
Investor A
Shares sold		616,464		$	10,736,344			1,794,352		$	27,777,242
Shares issued to shareholders in reinvestment of dividends		—			—			123,926			2,058,237
Shares redeemed		(608,212	)		(10,635,891	)		(964,345	)		(14,728,990	)
Net increase		8,252		$	100,453			953,933		$	15,106,489

20 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Notes to Financial Statements (concluded) BlackRock Index Funds, Inc.

	Six Months Ended June 30, 2014						Year Ended December 31, 2013
Small Cap Index (concluded)	Shares			Amount			Shares			Amount
Class K
Shares sold		49,466		$	857,497			74,025		$	1,102,083
Shares issued to shareholders in reinvestment of dividends		—			—			1,967			32,605
Shares redeemed		(4,662	)		(81,232	)		(10,838	)		(170,596	)
Net increase		44,804		$	776,265			65,154		$	964,092
Total Net Increase		3,152		$	61,122			1,074,716		$	17,405,626

At June 30, 2014, 1,898 Class K shares of Small Cap Index were owned by affiliates.

6. Subsequent Events:

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 21

Series Portfolio Information as of June 30, 2014 Quantitative Master Series LLC

Master International Index Series

Master Small Cap Index Series

Ten Largest Holdings Percent of
Long-Term Investments

Nestlé SA, Registered Shares	2	%
Roche Holding AG	2
Novartis AG, Registered Shares	2
HSBC Holdings PLC	1
Toyota Motor Corp	1
BP PLC	1
Royal Dutch Shell PLC, Class A	1
Total SA	1
GlaxoSmithKline PLC	1
Sanofi	1

Geographic Allocation Percent of
Long-Term  Investments

Japan	20	%
United Kingdom	19
France	10
Switzerland	10
Germany	9
Australia	8
Netherlands	5
Spain	4
Sweden	3
Hong Kong	3
Italy	2
Other1	7

¹  Includes holdings within countries that are 1% or less of long-term investments. Please refer to the Schedule of Investments for such countries.

Ten Largest Holdings Percent of
Long-Term Investments

Prosperity Bancshares, Inc.	0.2	%
InterMune, Inc.	0.2
Aspen Technology, Inc.	0.2
WEX, Inc.	0.2
Isis Pharmaceuticals, Inc.	0.2
Tenneco, Inc.	0.2
PolyOne Corp.	0.2
Investor Bancorp, Inc.	0.2
Ultimate Software Group, Inc.	0.2
Brunswick Corp.	0.2

Sector Allocation Percent of
Long-Term Investments

Financials	23	%
Information Technology	18
Industrials	14
Health Care	13
Consumer Discretionary	13
Energy	7
Materials	5
Utilities	3
Consumer Staples	3
Telecommunication Services	1

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

22 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments June 30, 2014 (Unaudited) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Australia — 7.5%
AGL Energy Ltd.		44,909	$	655,985
ALS Ltd.		31,254		261,067
Alumina Ltd. (a)		203,696		260,133
Amcor Ltd.		96,147		945,658
AMP Ltd.		235,358		1,176,519
APA Group		64,828		421,630
Asciano Ltd.		75,530		401,324
ASX Ltd.		14,765		496,391
Aurizon Holdings Ltd.		168,772		792,516
Australia & New Zealand Banking Group Ltd.		216,461		6,806,504
Bank of Queensland Ltd.		28,508		327,618
Bendigo and Adelaide Bank Ltd.		32,618		375,267
BGP Holdings PLC (a)		783,183		11
BHP Billiton Ltd.		253,338		8,639,999
Boral Ltd.		61,931		306,395
Brambles Ltd.		122,532		1,061,601
Caltex Australia Ltd.		11,572		235,458
CFS Retail Property Trust		176,953		340,285
Coca-Cola Amatil Ltd.		43,897		391,954
Cochlear Ltd.		4,833		281,358
Commonwealth Bank of Australia		127,147		9,697,255
Computershare Ltd.		38,598		454,304
Crown Resorts Ltd.		27,186		387,495
CSL Ltd.		38,223		2,399,370
Dexus Property Group		455,868		477,121
Federation Centres Ltd.		114,385		268,438
Flight Centre Ltd.		4,803		201,264
Fortescue Metals Group Ltd.		118,642		490,009
Goodman Group		137,614		655,178
GPT Group		137,636		498,459
Harvey Norman Holdings Ltd.		38,809		113,441
Iluka Resources Ltd.		33,664		258,671
Incitec Pivot Ltd.		137,369		375,560
Insurance Australia Group Ltd.		181,206		998,073
Leighton Holdings Ltd.		7,635		141,763
Lend Lease Group		44,067		544,777
Macquarie Group Ltd.		22,621		1,272,516
Metcash Ltd.		63,088		157,050
Mirvac Group		297,877		501,273
National Australia Bank Ltd.		185,675		5,738,981
Newcrest Mining Ltd. (a)		62,155		624,262
Orica Ltd.		29,863		548,475
Origin Energy Ltd.		86,941		1,198,356
Qantas Airways Ltd. (a)		77,541		92,240
QBE Insurance Group Ltd.		96,809		991,545
Ramsay Health Care Ltd.		9,937		426,805
REA Group Ltd.		4,134		166,559
Rio Tinto Ltd.		34,728		1,948,239
Santos Ltd.		77,079		1,036,912
Scentre Group (a)		403,454		1,217,397
Seek Ltd.		25,351		379,101
Sonic Healthcare Ltd.		31,000		507,103
SP AusNet		124,539		155,683
Stockland		186,281		681,315
Suncorp Group Ltd.		101,087		1,290,867
Sydney Airport		82,654		328,866
Tabcorp Holdings Ltd.		64,836		205,349
Tatts Group Ltd.		113,710		350,581
Telstra Corp. Ltd.		342,186		1,681,078
Toll Holdings Ltd.		57,647		277,431
TPG Telecom, Ltd.		21,913		113,855
Transurban Group		138,582		965,700
Treasury Wine Estates Ltd.		54,914		259,330
Common Stocks	Shares		Value
Australia (concluded)
Wesfarmers Ltd.		90,194	$	3,559,179
Westfield Corp.		155,797		1,050,397
Westpac Banking Corp.		245,245		7,844,433
Woodside Petroleum Ltd.		52,010		2,016,499
Woolworths Ltd.		99,186		3,293,620
WorleyParsons Ltd.		17,519		287,352
				83,307,200
Austria — 0.3%
Andritz AG		6,080		351,310
Erste Group Bank AG		22,061		713,295
Immofinanz AG (a)		71,433		252,358
OMV AG		12,119		547,476
Raiffeisen Bank International AG		9,645		307,481
Strabag SE		30,711		—
Telekom Austria AG		15,806		154,602
Vienna Insurance Group AG		3,358		179,782
Voestalpine AG		8,606		410,275
				2,916,579
Belgium — 1.2%
Ageas		17,580		701,111
Anheuser-Busch InBev NV		63,416		7,286,515
Belgacom SA		11,349		376,749
Colruyt SA		5,685		288,748
Delhaize Group		7,869		532,473
Groupe Bruxelles Lambert SA		6,236		648,129
KBC Groep NV (a)		19,856		1,080,189
Solvay SA		4,759		819,073
Telenet Group Holding NV (a)		4,118		234,692
UCB SA		8,933		755,751
Umicore SA		8,046		374,397
				13,097,827
Denmark — 1.4%
A.P. Moeller — Maersk A/S, Class A		220		517,785
A.P. Moeller — Maersk A/S, Class B		505		1,255,573
Carlsberg A/S, Class B		8,515		917,098
Coloplast A/S, Class B		8,875		803,055
Danske Bank A/S		50,941		1,440,025
DSV A/S		14,726		480,191
Novo Nordisk A/S, Class B		154,883		7,148,308
Novozymes A/S, Class B		17,918		898,704
Pandora A/S		8,085		620,473
TDC A/S		66,094		683,703
Tryg A/S		1,678		169,540
Vestas Wind Systems A/S (a)		17,406		878,283
William Demant Holding A/S (a)		1,914		173,808
				15,986,546
Finland — 0.8%
Elisa OYJ		11,811		361,300
Fortum OYJ		35,380		950,023
Kone OYJ, Class B		24,895		1,038,023
Metso OYJ		8,819		333,873
Neste Oil OYJ		9,344		182,325
Nokia OYJ		295,490		2,235,903
Nokian Renkaat OYJ		9,359		364,879
Orion OYJ, Class B		7,935		295,759
Sampo OYJ, Class A		35,574		1,798,351
Stora Enso OYJ, Class R		43,104		419,062
UPM-Kymmene OYJ		42,114		719,373
Wartsila OYJ		11,612		575,513
				9,274,384

Portfolio Abbreviation

ADR American Depositary Receipts

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 23

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
France — 9.8%
Accor SA		13,507	$	702,033
Aeroports de Paris		2,493		328,669
Air Liquide SA		27,152		3,669,018
Airbus Group NV		46,546		3,120,816
Alcatel-Lucent (a)		223,201		802,425
Alstom SA		17,361		630,506
ArcelorMittal		78,368		1,168,323
Arkema		4,361		423,742
AtoS		6,204		516,736
AXA SA		143,063		3,418,250
BNP Paribas SA		83,489		5,673,807
Bollore SA		430		278,956
Bouygues SA		15,473		643,835
Bureau Veritas SA		17,032		473,037
Cap Gemini SA		11,429		815,616
Carrefour SA		48,799		1,799,424
Casino Guichard-Perrachon SA		4,598		609,604
Christian Dior SA		4,316		859,310
Cie Generale des Etablissements Michelin		14,516		1,733,243
CNP Assurances		13,219		274,359
Compagnie de Saint-Gobain		35,046		1,977,372
Credit Agricole SA		82,299		1,161,968
Danone SA		44,793		3,330,736
Dassault Systemes SA		4,794		616,417
Edenred		15,541		471,264
EDF		19,582		616,596
Essilor International SA		16,084		1,704,517
Eurazeo		3,099		257,880
Eutelsat Communications SA		12,524		435,205
Fonciere Des Regions		2,308		250,355
GDF Suez		114,215		3,146,801
Gecina SA		1,869		272,321
Groupe Eurotunnel SA, Registered Shares		36,648		495,815
ICADE		2,822		302,498
Iliad SA		2,087		630,844
Imerys SA		2,500		210,836
JCDecaux SA		5,660		211,393
Kering		6,000		1,316,226
Klepierre		7,443		379,247
L’Oreal SA		18,876		3,250,053
Lafarge SA		14,608		1,270,299
Lagardere SCA		9,740		317,344
Legrand SA		21,220		1,299,525
LVMH Moet Hennessy Louis Vuitton SA		22,027		4,250,525
Natixis		70,781		454,265
Orange SA		145,995		2,309,978
Pernod Ricard SA		16,754		2,012,499
Peugeot SA (a)		30,443		450,424
Publicis Groupe SA		14,305		1,212,441
Remy Cointreau SA		2,081		191,459
Renault SA		15,124		1,367,129
Rexel SA		21,270		497,455
Safran SA		21,273		1,392,631
Sanofi		94,015		9,992,806
Schneider Electric SA		41,080		3,873,573
SCOR SE		11,602		399,491
SES SA		24,156		916,228
Societe BIC SA		2,281		312,127
Societe Generale SA		56,913		2,984,669
Sodexo		7,501		807,102
Suez Environnement Co.		21,425		409,864
Technip SA		8,198		895,725
Thales SA		7,640		461,948
Total SA		168,791		12,211,970
Unibail-Rodamco SE		7,727		2,248,636
Valeo SA		6,064		813,635
Vallourec SA		8,857		397,025
Common Stocks	Shares		Value
France (concluded)
Veolia Environnement SA		32,516	$	619,453
Vinci SA		38,113		2,849,282
Vivendi SA (a)		95,126		2,327,881
Wendel SA		2,515		360,312
Zodiac Aerospace		14,692		497,433
				109,385,187
Germany — 8.9%
Adidas AG		16,356		1,653,856
Allianz SE, Registered Shares		36,005		6,009,732
Axel Springer AG		2,870		176,381
BASF SE		72,450		8,427,641
Bayer AG, Registered Shares		65,229		9,202,059
Bayerische Motoren Werke AG		26,231		3,321,623
Bayerische Motoren Werke AG, Preference Shares		4,427		423,851
Beiersdorf AG		8,067		779,634
Brenntag AG		4,151		741,596
Celesio AG		3,574		127,091
Commerzbank AG (a)		76,614		1,200,779
Continental AG		8,680		2,006,908
Daimler AG, Registered Shares		75,947		7,094,556
Deutsche Bank AG, Registered Shares		108,878		3,826,515
Deutsche Boerse AG		15,051		1,166,974
Deutsche Lufthansa AG, Registered Shares		17,906		384,389
Deutsche Post AG, Registered Shares		76,309		2,754,366
Deutsche Telekom AG, Registered Shares		245,805		4,311,177
Deutsche Wohnen AG		21,875		471,201
E.ON SE		157,869		3,254,557
Fraport AG Frankfurt Airport Services Worldwide		2,725		192,268
Fresenius Medical Care AG & Co. KGaA		16,848		1,133,555
Fresenius SE & Co. KGaA		9,946		1,483,303
GEA Group AG		14,715		695,639
Hannover Rueck SE		4,939		444,764
HeidelbergCement AG		11,241		957,822
Henkel AG & Co. KGaA		9,192		924,400
Henkel AG & Co. KGaA, Preference Shares		14,058		1,624,154
Hochtief AG		1,718		148,690
Hugo Boss AG		2,371		354,036
Infineon Technologies AG		89,001		1,111,012
K+S AG, Registered Shares		12,982		426,308
Kabel Deutschland Holding AG		1,772		259,265
Lanxess AG		7,231		487,724
Linde AG		14,702		3,124,117
MAN SE		2,794		345,301
Merck KGaA		10,190		883,643
Metro AG (a)		12,803		557,167
Muenchener Rueckversicherungs AG, Registered Shares		14,215		3,147,887
Osram Licht AG (a)		7,148		359,969
Porsche Automobil Holding SE, Preference Shares		12,151		1,263,370
ProSiebenSat.1 Media AG, Registered Shares		17,432		775,881
RWE AG		38,604		1,655,652
SAP AG		72,682		5,600,489
Siemens AG, Registered Shares		62,544		8,257,944
Sky Deutschland AG (a)		36,810		339,183
Telefonica Deutschland Holding AG		20,099		166,144
ThyssenKrupp AG (a)		35,558		1,034,615
United Internet AG, Registered Shares		9,200		404,176
Volkswagen AG		2,386		615,370
Volkswagen AG, Preference Shares		12,862		3,368,772
				99,477,506
Hong Kong — 2.7%
AIA Group Ltd.		950,000		4,773,382
ASM Pacific Technology Ltd.		17,304		189,106
Bank of East Asia Ltd.		104,332		432,563
BOC Hong Kong Holdings Ltd.		294,400		852,895
Cathay Pacific Airways Ltd.		87,263		163,079
Cheung Kong Holdings Ltd.		108,835		1,930,912

See Notes to Financial Statements.

24 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Hong Kong (concluded)
Cheung Kong Infrastructure Holdings Ltd.		46,500	$	321,228
CLP Holdings Ltd.		149,187		1,225,559
First Pacific Co. Ltd.		173,250		193,394
Galaxy Entertainment Group Ltd.		183,000		1,462,623
Hang Lung Properties Ltd.		183,000		564,341
Hang Seng Bank Ltd.		60,353		985,533
Henderson Land Development Co. Ltd.		80,564		471,507
HKT Trust and HKT Ltd.		192,000		226,245
Hong Kong & China Gas Co. Ltd.		497,556		1,088,789
Hong Kong Exchanges & Clearing Ltd.		87,027		1,622,364
Hutchison Whampoa Ltd.		169,176		2,313,746
Hysan Development Co. Ltd.		54,791		256,621
Kerry Properties Ltd.		52,500		183,508
Li & Fung Ltd.		471,980		699,096
The Link REIT		185,414		998,226
MGM China Holdings Ltd.		69,600		241,381
MTR Corp.		113,500		437,100
New World Development Co. Ltd.		390,968		445,076
NWS Holdings Ltd.		127,824		237,163
PCCW Ltd.		348,000		207,442
Power Assets Holdings Ltd.		112,000		980,329
Sands China Ltd.		193,400		1,459,723
Shangri-La Asia Ltd.		97,905		153,406
Sino Land Co. Ltd.		237,263		390,563
SJM Holdings Ltd.		148,000		370,762
Sun Hung Kai Properties Ltd.		129,324		1,774,585
Swire Pacific Ltd., Class A		51,077		628,673
Swire Properties Ltd.		87,000		254,253
Techtronic Industries Co.		108,500		347,818
Wharf Holdings Ltd.		121,357		873,870
Wheelock & Co. Ltd.		72,000		300,572
Wynn Macau Ltd.		119,600		468,433
Yue Yuen Industrial Holdings Ltd.		54,285		181,634
				30,707,500
Ireland — 0.8%
Bank of Ireland (a)		1,916,805		646,826
CRH PLC		57,232		1,466,129
Experian PLC		77,514		1,309,611
James Hardie Industries SE		34,310		447,603
Kerry Group PLC, Class A		12,485		937,700
Ryanair Holdings PLC (a)		10,891		103,403
Ryanair Holdings PLC — ADR (a)		636		35,489
Shire PLC		46,379		3,638,109
				8,584,870
Israel — 0.5%
Bank Hapoalim BM		80,579		465,423
Bank Leumi Le-Israel BM (a)		107,117		417,495
Bezeq The Israeli Telecommunication Corp. Ltd.		139,679		261,421
Delek Group Ltd.		372		153,878
Israel Chemicals Ltd.		32,604		279,353
The Israel Corp. Ltd. (a)		206		117,224
Mizrahi Tefahot Bank Ltd.		11,916		154,056
NICE Systems Ltd.		5,103		208,841
Teva Pharmaceutical Industries Ltd.		67,383		3,539,827
				5,597,518
Italy — 2.5%
Assicurazioni Generali SpA		92,841		2,033,265
Atlantia SpA		32,599		928,679
Banca Monte dei Paschi di Siena SpA (a)(b)		336,194		651,396
Banco Popolare SC (a)		28,615		470,695
Enel Green Power SpA		137,956		390,448
Enel SpA		516,536		3,004,503
Eni SpA		200,679		5,488,505
Exor SpA		7,730		317,104
Fiat SpA (a)		67,779		668,267
Finmeccanica SpA (a)		29,559		280,691
Intesa Sanpaolo SpA		994,496		3,036,642
Luxottica Group SpA		13,350		773,041
Common Stocks	Shares		Value
Italy (concluded)
Mediobanca SpA (a)		47,636	$	474,342
Pirelli & C SpA		18,856		302,258
Prysmian SpA		15,947		360,124
Saipem SpA (a)		20,287		547,001
Snam SpA		161,729		974,082
Telecom Italia SpA (a)		804,131		1,017,789
Telecom Italia SpA, Non-Convertible Savings Shares		473,382		468,261
Tenaris SA		37,282		878,444
Terna — Rete Elettrica Nazionale SpA		120,321		633,960
UniCredit SpA		353,939		2,959,416
Unione di Banche Italiane SCpA		66,689		576,264
UnipolSai SpA		77,124		247,754
				27,482,931
Japan — 19.6%
ABC-Mart, Inc.		2,000		107,023
Acom Co. Ltd. (a)		29,800		141,929
Advantest Corp.		13,900		171,991
Aeon Co. Ltd.		48,700		599,294
AEON Financial Service Co. Ltd.		8,500		222,309
Aeon Mall Co. Ltd.		8,250		217,527
Air Water, Inc.		10,000		160,070
Aisin Seiki Co. Ltd.		15,700		624,954
Ajinomoto Co. Inc.		47,000		736,646
Alfresa Holdings Corp.		3,600		232,102
Amada Co. Ltd.		29,000		295,391
ANA Holdings, Inc.		100,000		235,999
Aozora Bank Ltd.		91,000		299,190
Asahi Glass Co. Ltd.		77,100		454,557
Asahi Group Holdings Ltd.		30,700		964,069
Asahi Kasei Corp.		98,000		750,241
Asics Corp.		12,800		298,902
Astellas Pharma, Inc.		169,700		2,231,651
The Bank of Kyoto Ltd.		28,000		254,808
The Bank of Yokohama Ltd.		96,000		552,864
Benesse Holdings, Inc.		4,800		208,201
Bridgestone Corp.		51,400		1,800,204
Brother Industries Ltd.		19,700		341,550
Calbee, Inc.		5,600		154,334
Canon, Inc.		89,500		2,925,038
Casio Computer Co. Ltd.		15,800		229,497
Central Japan Railway Co.		11,500		1,641,603
The Chiba Bank Ltd.		59,000		416,712
Chiyoda Corp.		13,000		157,556
Chubu Electric Power Co., Inc. (a)		51,900		644,570
Chugai Pharmaceutical Co. Ltd.		17,400		490,621
The Chugoku Bank Ltd.		12,900		198,418
The Chugoku Electric Power Co., Inc.		22,300		303,870
Citizen Holdings Co. Ltd.		19,000		149,203
Credit Saison Co. Ltd.		12,500		260,254
Dai Nippon Printing Co. Ltd.		44,000		459,710
The Dai-ichi Life Insurance Co. Ltd.		67,300		1,002,947
Daicel Corp.		21,000		200,787
Daido Steel Co. Ltd.		21,000		107,452
Daihatsu Motor Co. Ltd.		15,100		268,724
Daiichi Sankyo Co. Ltd.		50,100		936,456
Daikin Industries Ltd.		18,600		1,173,897
Daito Trust Construction Co. Ltd.		5,900		693,775
Daiwa House Industry Co. Ltd.		46,000		953,609
Daiwa Securities Group, Inc.		130,000		1,126,355
Dena Co. Ltd.		7,400		100,128
Denso Corp.		38,600		1,843,945
Dentsu, Inc.		17,413		709,141
Don Quijote Co. Ltd.		4,300		239,903
East Japan Railway Co.		26,449		2,083,972
Eisai Co. Ltd.		20,100		843,503
Electric Power Development Co. Ltd.		9,900		321,262

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 25

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Japan (continued)
FamilyMart Co. Ltd.		4,800	$	206,941
FANUC Corp.		15,300		2,642,124
Fast Retailing Co. Ltd.		4,200		1,383,604
Fuji Electric Co. Ltd.		40,800		193,599
Fuji Heavy Industries Ltd.		45,800		1,269,977
FUJIFILM Holdings Corp.		37,200		1,038,274
Fujitsu Ltd.		148,000		1,108,940
Fukuoka Financial Group, Inc.		63,000		304,294
Gree, Inc.		9,600		84,182
GungHo Online Entertainment, Inc.		31,900		206,128
The Gunma Bank Ltd.		27,000		159,750
The Hachijuni Bank Ltd.		35,000		216,726
Hakuhodo DY Holdings, Inc.		16,400		162,988
Hamamatsu Photonics KK		5,800		284,657
Hankyu Hanshin Holdings, Inc.		88,000		502,448
Hikari Tsushin, Inc.		1,300		98,177
Hino Motors Ltd.		20,400		281,445
Hirose Electric Co. Ltd.		2,200		327,056
The Hiroshima Bank Ltd.		45,000		215,082
Hisamitsu Pharmaceutical Co., Inc.		4,400		196,755
Hitachi Chemical Co. Ltd.		7,400		122,517
Hitachi Construction Machinery Co. Ltd.		9,500		189,622
Hitachi High-Technologies Corp.		4,400		104,767
Hitachi Ltd.		381,000		2,792,375
Hitachi Metals Ltd.		18,000		274,439
Hokuhoku Financial Group, Inc.		106,000		226,095
Hokuriku Electric Power Co.		14,900		197,531
Honda Motor Co. Ltd.		128,600		4,487,464
Hoya Corp.		34,000		1,130,425
Hulic Co. Ltd.		17,600		232,138
Ibiden Co. Ltd.		10,700		215,868
Idemitsu Kosan Co. Ltd.		6,000		130,288
IHI Corp.		108,000		503,433
Iida Group Holdings Co. Ltd.		13,100		199,101
Inpex Corp.		69,100		1,051,163
Isetan Mitsukoshi Holdings Ltd.		25,005		325,812
Isuzu Motors Ltd.		96,000		635,709
ITOCHU Corp.		119,100		1,528,980
Itochu Techno-Solutions Corp.		1,700		73,898
The Iyo Bank Ltd.		19,000		192,180
J. Front Retailing Co. Ltd.		40,600		285,053
Japan Airlines Co. Ltd.		5,140		284,188
Japan Display, Inc. (a)		28,600		175,782
Japan Exchange Group, Inc.		20,600		507,712
Japan Prime Realty Investment Corp.		64		229,711
Japan Real Estate Investment Corp.		92		535,875
Japan Retail Fund Investment Corp.		173		389,201
Japan Tobacco, Inc.		87,400		3,186,788
JFE Holdings, Inc.		39,300		812,889
JGC Corp.		16,000		486,712
The Joyo Bank Ltd.		53,000		282,725
JSR Corp.		12,900		221,467
JTEKT Corp.		15,100		254,780
JX Holdings, Inc.		180,260		964,612
Kajima Corp.		71,800		317,591
Kakaku.com, Inc.		11,800		206,925
Kamigumi Co. Ltd.		17,000		156,488
Kaneka Corp.		20,000		125,223
The Kansai Electric Power Co., Inc. (a)		54,700		515,609
Kansai Paint Co. Ltd.		18,000		300,857
Kao Corp.		41,200		1,622,611
Kawasaki Heavy Industries Ltd.		108,000		411,716
KDDI Corp.		46,000		2,806,623
Keikyu Corp.		36,000		323,609
Keio Corp.		46,000		361,717
Keisei Electric Railway Co. Ltd.		20,000		199,321
Keyence Corp.		3,592		1,570,738
Common Stocks	Shares		Value
Japan (continued)
Kikkoman Corp.		12,000	$	250,109
Kintetsu Corp.		139,000		506,496
Kirin Holdings Co. Ltd.		63,100		911,090
Kobe Steel Ltd.		230,000		345,910
Koito Manufacturing Co. Ltd.		7,000		179,379
Komatsu Ltd.		74,600		1,731,711
Konami Corp.		8,200		181,416
Konica Minolta, Inc.		37,000		365,711
Kubota Corp.		89,000		1,262,935
Kuraray Co. Ltd.		27,600		350,056
Kurita Water Industries Ltd.		8,200		189,919
Kyocera Corp.		24,900		1,182,347
Kyowa Hakko Kirin Co. Ltd.		19,000		257,420
Kyushu Electric Power Co., Inc. (a)		32,700		368,135
Lawson, Inc.		4,900		367,781
LIXIL Group Corp.		20,300		549,438
M3, Inc.		15,300		243,593
Mabuchi Motor Co. Ltd.		1,800		136,490
Makita Corp.		9,500		587,137
Marubeni Corp.		131,000		958,785
Marui Group Co. Ltd.		20,000		192,154
Maruichi Steel Tube Ltd.		3,400		91,317
Mazda Motor Corp.		217,400		1,020,240
McDonald’s Holdings Co. Japan Ltd.		6,000		168,530
Medipal Holdings Corp.		10,100		143,196
Meiji Holdings Co. Ltd.		5,093		337,652
Miraca Holdings, Inc.		4,100		198,703
Mitsubishi Chemical Holdings Corp.		110,700		490,959
Mitsubishi Corp.		110,800		2,306,236
Mitsubishi Electric Corp.		153,000		1,889,968
Mitsubishi Estate Co. Ltd.		99,000		2,445,845
Mitsubishi Gas Chemical Co., Inc.		34,000		217,724
Mitsubishi Heavy Industries Ltd.		240,200		1,500,265
Mitsubishi Logistics Corp.		9,000		134,881
Mitsubishi Materials Corp.		87,000		305,216
Mitsubishi Motors Corp. (b)		51,300		566,886
Mitsubishi Tanabe Pharma Corp.		18,800		281,418
Mitsubishi UFJ Financial Group, Inc.		1,005,474		6,172,318
Mitsubishi UFJ Lease & Finance Co. Ltd.		41,900		240,854
Mitsui & Co. Ltd.		137,100		2,197,937
Mitsui Chemicals, Inc.		64,000		175,111
Mitsui Fudosan Co. Ltd.		67,000		2,261,200
Mitsui OSK Lines Ltd.		85,000		316,666
Mizuho Financial Group, Inc.		1,816,164		3,733,131
MS&AD Insurance Group Holdings, Inc.		40,270		973,279
Murata Manufacturing Co. Ltd.		15,900		1,491,112
Nabtesco Corp.		8,900		196,966
Nagoya Railroad Co. Ltd.		66,000		263,217
Namco Bandai Holdings, Inc.		14,900		349,340
NEC Corp.		205,000		654,259
Nexon Co. Ltd.		11,900		113,734
NGK Insulators Ltd.		20,000		454,016
NGK Spark Plug Co. Ltd.		15,000		423,511
NHK Spring Co. Ltd.		10,700		100,415
Nidec Corp.		16,300		1,002,455
Nikon Corp.		26,100		411,181
Nintendo Co. Ltd.		8,400		1,008,733
Nippon Building Fund, Inc.		112		654,852
Nippon Electric Glass Co. Ltd.		34,500		201,062
Nippon Express Co. Ltd.		70,000		339,518
Nippon Meat Packers, Inc.		14,000		273,338
Nippon Paint Co. Ltd.		15,000		317,600
Nippon Prologis REIT, Inc.		107		249,539
Nippon Steel & Sumitomo Metal		604,265		1,935,770
Nippon Telegraph & Telephone Corp.		29,776		1,855,873
Nippon Yusen KK		124,000		357,688
Nissan Motor Co. Ltd.		195,400		1,850,331

See Notes to Financial Statements.

26 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Japan (continued)
Nisshin Seifun Group, Inc.		15,400	$	183,978
Nissin Foods Holdings Co. Ltd.		4,300		221,077
Nitori Holdings Co. Ltd.		5,500		300,915
Nitto Denko Corp.		11,910		557,881
NKSJ Holdings, Inc.		26,775		721,455
NOK Corp.		7,100		142,761
Nomura Holdings, Inc.		284,700		2,016,617
Nomura Real Estate Holdings, Inc.		8,800		166,678
Nomura Research Institute Ltd.		9,300		293,002
NSK Ltd.		36,000		468,480
NTT Data Corp.		10,000		384,565
NTT DoCoMo, Inc.		119,600		2,041,667
NTT Urban Development Corp.		8,400		94,598
Obayashi Corp.		52,000		371,387
Odakyu Electric Railway Co. Ltd.		49,000		471,876
Oji Holdings Corp.		67,000		275,706
Olympus Corp. (a)		18,300		629,636
Omron Corp.		16,600		700,015
Ono Pharmaceutical Co. Ltd.		6,300		553,513
Oracle Corp. Japan		2,600		113,731
Oriental Land Co. Ltd.		3,800		651,269
ORIX Corp.		103,500		1,716,112
Osaka Gas Co. Ltd.		152,000		638,676
Otsuka Corp.		4,500		218,225
Otsuka Holdings Co. Ltd.		30,800		955,111
Panasonic Corp.		175,600		2,128,631
Park24 Co. Ltd.		7,000		127,311
Rakuten, Inc.		62,700		810,654
Resona Holdings, Inc.		169,756		989,225
Ricoh Co. Ltd.		55,800		665,060
Rinnai Corp.		2,900		279,966
Rohm Co. Ltd.		7,600		435,897
Sankyo Co. Ltd.		3,400		130,788
Sanrio Co. Ltd. (b)		4,100		119,136
Santen Pharmaceutical Co. Ltd.		6,000		338,010
SBI Holdings, Inc.		16,140		197,805
Secom Co. Ltd.		16,700		1,019,459
Sega Sammy Holdings, Inc.		14,432		284,203
Seiko Epson Corp.		9,800		416,933
Sekisui Chemical Co. Ltd.		35,000		405,776
Sekisui House Ltd.		44,100		605,161
Seven & I Holdings Co. Ltd.		59,800		2,520,558
Seven Bank Ltd.		49,100		200,778
Sharp Corp. (a)		113,000		362,810
Shikoku Electric Power Co., Inc. (a)		14,500		202,186
Shimadzu Corp.		21,000		192,681
Shimamura Co. Ltd.		1,600		157,494
Shimano, Inc.		6,100		676,892
Shimizu Corp.		48,000		340,156
Shin-Etsu Chemical Co. Ltd.		32,300		1,964,105
Shinsei Bank Ltd.		127,000		286,050
Shionogi & Co. Ltd.		22,600		472,037
Shiseido Co. Ltd.		27,000		492,453
The Shizuoka Bank Ltd.		41,000		443,502
Showa Shell Sekiyu KK		13,200		150,044
SMC Corp.		4,400		1,179,031
Softbank Corp.		75,700		5,641,387
Sony Corp.		82,100		1,371,932
Sony Financial Holdings, Inc.		14,800		252,667
Stanley Electric Co. Ltd.		11,400		297,430
Sumitomo Chemical Co. Ltd.		115,000		434,722
Sumitomo Corp.		88,100		1,188,746
Sumitomo Dainippon Pharma Co. Ltd.		13,000		149,611
Sumitomo Electric Industries Ltd.		60,500		851,686
Sumitomo Heavy Industries Ltd.		46,000		218,958
Sumitomo Metal Mining Co. Ltd.		41,000		669,200
Sumitomo Mitsui Financial Group, Inc.		100,350		4,210,374
Common Stocks	Shares		Value
Japan (concluded)
Sumitomo Mitsui Trust Holdings, Inc.		260,820	$	1,192,076
Sumitomo Realty & Development Co. Ltd.		28,000		1,202,783
Sumitomo Rubber Industries Ltd.		14,600		211,021
Suntory Beverage & Food Ltd.		10,800		423,327
Suruga Bank Ltd.		16,000		310,785
Suzuken Co. Ltd.		6,100		227,231
Suzuki Motor Corp.		29,300		919,187
Sysmex Corp.		11,400		428,655
T&D Holdings, Inc.		46,900		637,913
Taiheiyo Cement Corp.		92,000		370,947
Taisei Corp.		83,000		459,999
Taisho Pharmaceutical Holdings Co. Ltd.		2,400		175,068
Taiyo Nippon Sanso Corp.		18,000		159,460
Takashimaya Co. Ltd.		19,000		184,538
Takeda Pharmaceutical Co. Ltd.		62,300		2,891,514
TDK Corp.		9,100		427,251
Teijin Ltd.		78,000		195,762
Terumo Corp.		22,800		510,785
THK Co. Ltd.		8,200		193,319
Tobu Railway Co. Ltd.		80,000		418,960
Toho Co. Ltd.		9,800		229,839
Toho Gas Co. Ltd.		30,000		164,769
Tohoku Electric Power Co., Inc.		35,400		414,292
Tokio Marine Holdings, Inc.		54,700		1,800,381
The Tokyo Electric Power Co., Inc. (a)		113,000		469,695
Tokyo Electron Ltd.		13,800		940,530
Tokyo Gas Co. Ltd.		189,000		1,104,007
Tokyo Tatemono Co. Ltd.		33,000		305,658
Tokyu Corp.		87,000		617,081
Tokyu Fudosan Holdings Corp.		38,000		299,935
TonenGeneral Sekiyu KK		23,000		218,446
Toppan Printing Co. Ltd.		44,000		340,220
Toray Industries, Inc.		117,700		774,470
Toshiba Corp.		323,000		1,509,842
Toto Ltd.		20,000		269,721
Toyo Seikan Kaisha Ltd.		12,600		193,701
Toyo Suisan Kaisha Ltd.		6,000		184,948
Toyoda Gosei Co. Ltd.		4,900		101,857
Toyota Industries Corp.		12,400		640,712
Toyota Motor Corp.		217,500		13,022,293
Toyota Tsusho Corp.		16,400		471,934
Trend Micro, Inc.		8,800		289,976
Unicharm Corp.		9,800		584,289
United Urban Investment Corp.		188		303,514
USS Co. Ltd.		18,600		317,470
West Japan Railway Co.		12,600		555,036
Yahoo! Japan Corp.		117,400		542,148
Yakult Honsha Co. Ltd.		6,700		339,346
Yamada Denki Co. Ltd.		63,600		226,718
Yamaguchi Financial Group, Inc.		18,000		189,828
Yamaha Corp.		13,400		211,862
Yamaha Motor Co. Ltd.		19,600		337,520
Yamato Holdings Co. Ltd.		28,700		594,924
Yamato Kogyo Co. Ltd.		2,900		85,132
Yamazaki Baking Co. Ltd.		8,000		99,923
Yaskawa Electric Corp.		18,000		218,204
Yokogawa Electric Corp.		16,800		212,786
The Yokohama Rubber Co. Ltd.		19,000		164,476
				219,022,743
Luxembourg — 0.1%
Altice SA (a)		4,811		335,183
RTL Group SA		3,164		351,190
				686,373
Netherlands — 4.5%
Aegon NV		142,820		1,245,883
Akzo Nobel NV		19,220		1,441,101

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 27

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Netherlands (concluded)
ASML Holding NV		28,204	$	2,630,343
CNH Industrial NV		75,095		770,542
Corio NV		5,756		293,782
Delta Lloyd NV		15,222		386,479
Fugro NV CVA		5,622		321,488
Gemalto NV (b)		6,342		658,332
Heineken Holding NV		7,610		500,092
Heineken NV		17,995		1,291,664
ING Groep NV CVA (a)		302,971		4,251,436
Koninklijke Ahold NV		72,516		1,359,754
Koninklijke Boskalis Westminster NV		6,140		352,113
Koninklijke DSM NV		13,871		1,009,425
Koninklijke KPN NV (a)		256,830		936,419
Koninklijke Philips Electronics NV		74,995		2,380,213
Koninklijke Vopak NV		5,570		271,960
OCI NV (a)		6,125		239,045
QIAGEN NV (a)		18,191		439,952
Randstad Holding NV		9,574		518,998
Reed Elsevier NV		54,269		1,246,192
Royal Dutch Shell PLC, A Shares		307,466		12,705,337
Royal Dutch Shell PLC, B Shares		192,830		8,380,407
TNT Express NV		33,068		299,177
Unilever NV CVA		128,502		5,624,925
Wolters Kluwer NV		24,340		720,986
Ziggo NV		11,447		529,384
				50,805,429
New Zealand — 0.1%
Auckland International Airport Ltd.		74,005		252,677
Contact Energy Ltd.		25,128		116,708
Fletcher Building Ltd.		51,612		397,874
Ryman Healthcare Ltd.		29,262		219,057
Telecom Corp. of New Zealand Ltd.		151,215		354,822
Xero Ltd. (a)		5,032		114,392
				1,455,530
Norway — 0.8%
Aker Solutions ASA		12,065		209,401
DnB NOR ASA		77,165		1,409,904
Gjensidige Forsikring ASA		14,922		267,600
Norsk Hydro ASA		104,548		559,812
Orkla ASA		64,395		573,048
Seadrill Ltd.		29,851		1,183,013
Statoil ASA		87,523		2,690,357
Subsea 7 SA		22,243		414,598
Telenor ASA		59,847		1,362,623
Yara International ASA		13,967		699,733
				9,370,089
Portugal — 0.2%
Banco Espirito Santo SA, Registered Shares (a)		196,340		161,538
EDP — Energias de Portugal SA		182,848		917,460
Galp Energia SGPS SA		30,463		558,375
Jeronimo Martins SGPS SA		18,634		306,371
				1,943,744
Singapore — 1.4%
Ascendas Real Estate Investment Trust		159,962		295,596
CapitaCommercial Trust		147,000		200,776
CapitaLand Ltd.		195,749		502,693
CapitaMall Trust		190,700		302,272
City Developments Ltd.		34,535		283,720
ComfortDelGro Corp. Ltd.		158,816		318,482
DBS Group Holdings Ltd.		134,407		1,807,732
Genting Singapore PLC		502,227		536,214
Global Logistic Properties Ltd.		233,000		504,967
Golden Agri-Resources Ltd.		599,251		267,259
Hutchison Port Holdings Trust		447,000		321,918
Common Stocks	Shares		Value
Singapore (concluded)
Jardine Cycle & Carriage Ltd.		9,721	$	345,484
Keppel Corp. Ltd.		116,577		1,009,145
Keppel Land Ltd.		59,000		160,039
Noble Group Ltd.		331,840		365,254
Oversea-Chinese Banking Corp. Ltd.		203,914		1,564,045
SembCorp Industries Ltd.		72,590		312,795
SembCorp Marine Ltd.		72,197		237,549
Singapore Airlines Ltd.		43,009		357,920
Singapore Exchange Ltd.		59,000		329,083
Singapore Press Holdings Ltd. (b)		99,985		334,347
Singapore Technologies Engineering Ltd.		119,213		363,673
Singapore Telecommunications Ltd.		631,132		1,950,635
StarHub Ltd.		44,157		147,793
United Overseas Bank Ltd.		101,147		1,829,014
UOL Group Ltd.		33,499		175,348
Wilmar International Ltd.		145,670		372,894
Yangzijiang Shipbuilding Holdings Ltd.		135,183		117,114
				15,313,761
Spain — 3.5%
Abertis Infraestructuras SA		30,877		710,365
ACS Actividades de Construccion y Servicios SA		14,218		650,761
Amadeus IT Holding SA, Class A		29,629		1,221,405
Banco Bilbao Vizcaya Argentaria SA		465,368		5,931,308
Banco de Sabadell SA		264,616		903,198
Banco Popular Espanol SA		138,196		923,200
Banco Santander SA		931,333		9,731,736
Bankia SA (a)		363,812		705,311
CaixaBank SA		139,964		863,448
Distribuidora Internacional de Alimentacion SA		48,882		449,921
Enagas SA		13,781		443,595
Ferrovial SA		32,559		725,445
Gas Natural SDG SA		27,922		882,146
Grifols SA		11,964		653,712
Iberdrola SA		402,278		3,077,239
Inditex SA		17,124		2,635,467
International Consolidated Airlines Group SA (a)		83,203		527,967
Mapfre SA		72,151		287,485
Red Electrica Corp. SA		7,322		669,320
Repsol SA		67,316		1,774,900
Telefonica SA		323,107		5,547,051
Zardoya Otis SA		14,019		249,615
				39,564,595
Sweden — 2.9%
Alfa Laval AB		25,343		652,583
Assa Abloy AB, Class B		26,254		1,335,433
Atlas Copco AB, Class A		52,879		1,526,677
Atlas Copco AB, Class B		30,955		826,047
Boliden AB		20,325		294,869
Electrolux AB, Class B		18,628		470,109
Elekta AB, B Shares		30,251		384,215
Getinge AB, Class B		15,355		402,077
Hennes & Mauritz AB, Class B		75,044		3,276,408
Hexagon AB, Class B		20,097		647,503
Husqvarna AB, Class B		29,922		232,542
Industrivarden AB, Class C		10,166		200,680
Investment AB Kinnevik, Class B		18,172		774,280
Investor AB, Class B		35,948		1,347,014
Lundin Petroleum AB (a)		17,569		355,119
Millicom International Cellular SA		4,973		455,219
Nordea Bank AB		239,632		3,378,317
Sandvik AB		84,190		1,149,797
Securitas AB, Class B		25,946		307,648
Skandinaviska Enskilda Banken AB, Class A		119,262		1,591,879
Skanska AB, Class B		30,660		699,914
SKF AB, Class B		31,977		815,338

See Notes to Financial Statements.

28 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Sweden (concluded)
Svenska Cellulosa AB, B Shares		46,247	$	1,204,451
Svenska Handelsbanken AB, Class A		39,043		1,909,185
Swedbank AB, Class A		70,879		1,877,380
Swedish Match AB		15,851		550,386
Tele2 AB, Class B		25,133		295,778
Telefonaktiebolaget LM Ericsson, Class B		240,679		2,907,582
TeliaSonera AB		187,577		1,369,683
Volvo AB, Class B		121,873		1,677,779
				32,915,892
Switzerland — 9.2%
ABB Ltd., Registered Shares		173,477		3,991,764
Actelion Ltd., Registered Shares (a)		8,135		1,029,644
Adecco SA, Registered Shares (a)		13,445		1,106,442
Aryzta AG (a)		7,044		667,096
Baloise Holding AG, Registered Shares		3,672		432,367
Barry Callebaut AG, Registered Shares (a)		174		236,334
Cie Financiere Richemont SA, Registered Shares		41,179		4,315,115
Coca-Cola HBC AG (a)		1,391		31,932
Coca-Cola HBC AG — ADR		13,591		309,195
Credit Suisse Group AG, Registered Shares		119,624		3,402,042
EMS-Chemie Holding AG, Registered Shares		601		239,826
Geberit AG, Registered Shares		2,960		1,038,349
Givaudan SA, Registered Shares (a)		729		1,214,460
Glencore PLC (a)		837,999		4,669,929
Holcim Ltd., Registered Shares (a)		18,280		1,605,667
Julius Baer Group Ltd.		17,970		740,351
Kuehne & Nagel International AG, Registered Shares		4,407		585,998
Lindt & Spruengli AG		73		371,586
Lindt & Spruengli AG, Registered Shares		8		494,181
Lonza Group AG, Registered Shares (a)		4,268		464,138
Nestle SA, Registered Shares		254,357		19,709,337
Novartis AG, Registered Shares		181,436		16,430,545
Pargesa Holding SA, Bearer Shares		2,489		223,406
Partners Group Holding AG		1,370		374,277
Roche Holding AG		55,415		16,511,276
Schindler Holding AG, Participation Certificates		3,711		563,684
Schindler Holding AG, Registered Shares		1,781		268,358
SGS SA, Registered Shares		431		1,031,350
Sika AG — Bearer Shares		164		670,039
Sonova Holding AG, Registered Shares		4,244		647,051
STMicroelectronics NV		49,663		444,933
Sulzer AG, Registered Shares		1,996		279,702
The Swatch Group AG, Bearer Shares		2,431		1,465,813
The Swatch Group AG, Registered Shares		3,921		434,999
Swiss Life Holding AG, Registered Shares (a)		2,592		614,412
Swiss Prime Site AG, Registered Shares		4,544		376,388
Swiss Re AG (a)		27,587		2,452,957
Swisscom AG, Registered Shares		1,854		1,076,945
Syngenta AG, Registered Shares		7,388		2,729,491
Transocean Ltd.		28,282		1,270,659
UBS AG, Registered Shares (a)		287,951		5,279,437
Zurich Insurance Group AG (a)		11,750		3,538,936
				103,340,411
United Kingdom — 18.0%
3i Group PLC		75,144		516,427
Aberdeen Asset Management PLC		73,333		569,123
Admiral Group PLC		14,967		396,576
Aggreko PLC		20,755		585,979
AMEC PLC		24,232		503,174
Anglo American PLC		109,405		2,681,337
Antofagasta PLC		30,354		396,543
ARM Holdings PLC		111,689		1,679,453
ASOS PLC (a)		4,098		207,539
Associated British Foods PLC		28,072		1,464,025
AstraZeneca PLC		99,467		7,400,109
Common Stocks	Shares		Value
United Kingdom (continued)
Aviva PLC		232,535	$	2,028,816
Babcock International Group PLC		39,621		787,543
BAE Systems PLC		253,221		1,875,539
Barclays PLC		1,289,850		4,698,635
BG Group PLC		268,951		5,675,231
BHP Billiton PLC		166,610		5,416,324
BP PLC		1,456,658		12,827,209
British American Tobacco PLC		148,812		8,854,648
British Land Co. PLC		75,627		908,705
British Sky Broadcasting Group PLC		81,145		1,255,399
BT Group PLC		624,064		4,100,761
Bunzl PLC		25,854		717,745
Burberry Group PLC		35,501		901,052
Capita PLC		52,351		1,025,623
Capital Shopping Centres Group PLC		71,868		383,350
Carnival PLC		14,856		560,384
Centrica PLC		402,937		2,153,144
Cobham PLC		91,467		488,673
Compass Group PLC		139,958		2,433,370
Croda International PLC		10,271		386,817
Diageo PLC		198,099		6,309,269
Direct Line Insurance Group PLC		118,529		546,994
easyJet PLC		13,133		306,691
Fresnillo PLC		17,890		268,843
Friends Life Group Ltd.		109,434		590,092
G4S PLC		121,071		528,574
GKN PLC		130,846		812,289
GlaxoSmithKline PLC		383,253		10,204,180
Hammerson PLC		54,580		541,585
Hargreaves Lansdown PLC		18,750		396,964
HSBC Holdings PLC		1,485,392		15,069,409
ICAP PLC		45,521		295,747
IMI PLC		22,068		561,131
Imperial Tobacco Group PLC		75,951		3,416,886
Inmarsat PLC		34,560		441,731
InterContinental Hotels Group PLC		20,627		853,366
Intertek Group PLC		12,965		609,582
Investec PLC		44,955		414,179
ITV PLC		304,483		927,897
J. Sainsbury PLC		99,946		539,504
Johnson Matthey PLC		16,265		862,459
Kingfisher PLC		190,060		1,166,759
Land Securities Group PLC		61,827		1,095,542
Legal & General Group PLC		462,659		1,782,391
Lloyds Banking Group PLC (a)		4,503,969		5,724,869
London Stock Exchange Group PLC		13,586		466,443
Marks & Spencer Group PLC		129,160		939,549
Meggitt PLC		63,165		546,886
Melrose Industries PLC		80,560		358,484
National Grid PLC		294,280		4,236,691
Next PLC		12,234		1,354,342
Old Mutual PLC		387,242		1,308,671
Pearson PLC		64,836		1,280,482
Persimmon PLC (a)		23,691		515,982
Petrofac Ltd.		21,409		440,379
Prudential PLC		201,998		4,628,067
Randgold Resources Ltd.		7,190		605,454
Reckitt Benckiser Group PLC		51,128		4,458,114
Reed Elsevier PLC		91,451		1,469,608
Rexam PLC		54,000		494,255
Rio Tinto PLC		100,345		5,418,052
Rolls-Royce Holdings PLC (a)		148,358		2,710,609
Royal Bank of Scotland Group PLC (a)		195,908		1,101,045
Royal Mail PLC (a)		49,125		419,229
RSA Insurance Group PLC		81,316		660,752
SABMiller PLC		76,021		4,405,795
The Sage Group PLC		83,955		551,415

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 29

Schedule of Investments (continued) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
United Kingdom (concluded)
Schroders PLC		9,825	$	421,021
Segro PLC		58,006		342,429
Severn Trent PLC		19,498		644,560
Smith & Nephew PLC		70,092		1,240,487
Smiths Group PLC		31,406		695,950
Sports Direct International PLC (a)		21,241		256,675
SSE PLC		76,926		2,060,774
Standard Chartered PLC		191,493		3,914,132
Standard Life PLC		188,025		1,202,887
Tate & Lyle PLC		35,338		413,453
Tesco PLC		640,569		3,113,283
Travis Perkins PLC		20,035		561,087
Tui Travel PLC		41,965		285,675
Tullow Oil PLC		71,606		1,044,641
Unilever PLC		101,249		4,589,563
United Utilities Group PLC		54,497		822,367
Vodafone Group PLC		2,085,496		6,970,308
The Weir Group PLC		17,092		765,849
Whitbread PLC		14,426		1,088,305
William Hill PLC		67,289		377,797
WM Morrison Supermarkets PLC		168,238		527,638
Wolseley PLC		21,056		1,153,470
WPP PLC		106,278		2,315,997
				201,324,838
Total Common Stocks — 96.7%				1,081,561,453
Preferred Stocks
Germany — 0.0%
Fuchs Petrolub SE, Preference Shares		5,942		268,111
Total Preferred Stocks — 0.0%				268,111
Rights — 0.0%	Shares		Value
Hong Kong — 0.0%
HKT Trust and HKT Ltd. (a)		34,560	$	10,212
Spain — 0.0%
Repsol SA (a)		67,316		45,811
Total Rights — 0.0%				56,023
Total Long-Term Investments (Cost — $755,875,418) — 96.7%				1,081,885,587
Short-Term Securities
BlackRock Liquidity Funds, TempCash, Institutional Class, 0.05% (c)(d)		1,756,169		1,756,169
	Beneficial Interest (000)
BlackRock Liquidity Series, LLC, Money Market Series, 0.18% (c)(d)(e)	$	913		912,766
Total Short-Term Securities (Cost — $2,668,935) — 0.3%				2,668,935
Total Investments (Cost — $758,544,353*) — 97.0%				1,084,554,522
Other Assets Less Liabilities — 3.0%				33,556,336
Net Assets — 100.0%			$	1,118,110,858

Notes to Schedule of Investments

* As of June 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

Tax cost	$	803,668,301
Gross unrealized appreciation	$	344,982,994
Gross unrealized depreciation		(64,096,773	)
Net unrealized appreciation	$	280,886,221

(a) Non-income producing security.

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

(c) Investments in issuers considered to be an affiliate of the Series during the six months ended June 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares/Beneficial Interest Held at December 31, 2013		Net Activity		Shares/Beneficial Interest Held at June 30, 2014		Income
BlackRock Liquidity Funds, TempCash, Institutional Class		587,542		1,168,627		1,756,169	$	411
BlackRock Liquidity Series, LLC, Money Market Series	$	528,856	$	383,910	$	912,766	$	26,054

(d) Represents the current yield as of report date.

(e) Security was purchased with the cash collateral from loaned securities. The Series may withdraw up to 25% of its investment daily, although the manager of the BlackRock Liquidity Series, LLC, Money Market Series, in its sole discretion, may permit an investor to withdraw more than 25% on any one day.

See Notes to Financial Statements.

30 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master International Index Series

Ÿ Financial futures contracts outstanding as of June 30, 2014 were as follows:

Contracts Purchased		Issue	Exchange	Expiration	Notional Value		Unrealized Depreciation
	196	Euro Stoxx 50 Index	Eurex Mercantile	September 2014	$	8,674,134	$	(83,712	)
	80	FTSE 100 Index	Euronext Liffe	September 2014	$	9,188,163		(12,485	)
	75	Nikkei 225 Index	Singapore Exchange	September 2014	$	5,604,363		(1,274	)
	29	SPI 200 Index	Australian Securities Exchange	September 2014	$	3,660,201		(9,167	)
	Total						$	(106,638	)

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

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

Ÿ 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)

Ÿ Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Series’ own 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.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Series’ policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument 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, please refer to Note 2 of the Notes to Financial Statements.

The following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy as of June 30, 2014:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments:
Common Stocks:
Australia	$	2,424,844	$	80,882,345	$	11	$	83,307,200
Austria		252,358		2,664,221		—		2,916,579
Belgium		—		13,097,827		—		13,097,827
Denmark		—		15,986,546		—		15,986,546
Finland		1,493,648		7,780,736		—		9,274,384
France		2,235,986		107,149,201		—		109,385,187
Germany		—		99,477,506		—		99,477,506
Hong Kong		1,722,500		28,985,000		—		30,707,500
Ireland		973,189		7,611,681		—		8,584,870
Israel		—		5,597,518		—		5,597,518
Italy		651,396		26,831,535		—		27,482,931
Japan		—		219,022,743		—		219,022,743
Luxembourg		335,183		351,190		—		686,373
Netherlands		—		50,805,429		—		50,805,429
New Zealand		354,822		1,100,708		—		1,455,530
Norway		967,333		8,402,756		—		9,370,089
Portugal		—		1,943,744		—		1,943,744
Singapore		—		15,313,761		—		15,313,761
Spain		—		39,564,595		—		39,564,595
Sweden		550,386		32,365,506		—		32,915,892
Switzerland		1,174,962		102,165,449		—		103,340,411
United Kingdom		3,196,633		198,128,205		—		201,324,838
Preferred Stocks		—		268,111		—		268,111
Rights		45,811		10,212		—		56,023
Short-Term Securities		1,756,169		912,766		—		2,668,935
Total	$	18,135,220	$	1,066,419,291	$	11	$	1,084,554,522

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 31

Schedule of Investments (concluded) Master International Index Series

	Level 1			Level 2			Level 3	Total
Derivative Financial Instruments1
Liabilities:
Equity contracts	$	(106,638	)		—		—	$	(106,638	)
1  Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.
The Series may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of June 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
	Level 1			Level 2			Level 3	Total
Assets:
Cash	$	10,799			—		—	$	10,799
Cash pledged for financial futures contracts		1,376,000			—		—		1,376,000
Foreign currency at value		22,024,440							22,024,440
Liabilities:
Collateral on securities loaned at value		—		$	(912,766	)	—		(912,766	)
Total	$	23,411,239		$	(912,766	)	—	$	22,498,473

There were no transfers between levels during the six months ended June 30, 2014.

See Notes to Financial Statements.

32 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments June 30, 2014 (Unaudited) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Advertising Agencies — 0.4%
Constant Contact, Inc. (a)		13,311	$	427,416
Conversant, Inc. (a)		28,412		721,665
Harte-Hanks, Inc.		20,889		150,192
Marchex, Inc., Class B		14,098		169,458
Marin Software, Inc. (a)		11,270		132,648
Marketo, Inc. (a)		10,866		315,983
MDC Partners, Inc., Class A		18,072		388,367
National CineMedia, Inc.		26,083		456,713
QuinStreet, Inc. (a)		14,582		80,347
ReachLocal, Inc. (a)		5,647		39,699
Sizmek, Inc. (a)		9,542		90,935
Viad Corp.		8,869		211,437
				3,184,860
Aerospace — 1.5%
AAR Corp.		16,811		463,311
Aerovironment, Inc. (a)		8,084		257,071
Astronics Corp. (a)		6,638		374,715
Cubic Corp.		8,740		389,017
Curtiss-Wright Corp.		20,416		1,338,473
Ducommun, Inc. (a)		4,611		120,485
Erickson Air-Crane, Inc. (a)(b)		2,434		39,553
Esterline Technologies Corp. (a)		13,479		1,551,703
GenCorp, Inc. (a)		25,389		484,930
HEICO Corp.		28,181		1,463,721
Kaman Corp.		11,590		495,241
Kratos Defense & Security Solutions, Inc. (a)		18,898		147,404
LMI Aerospace, Inc. (a)		4,557		59,606
Moog, Inc., Class A (a)		18,842		1,373,393
Orbital Sciences Corp. (a)		25,707		759,642
SIFCO Industries, Inc.		989		30,857
Teledyne Technologies, Inc. (a)		15,924		1,547,335
				10,896,457
Agriculture, Fishing & Ranching — 0.4%
Alico, Inc.		1,242		46,563
The Andersons, Inc.		11,943		616,020
Cal-Maine Foods, Inc.		6,561		487,614
Calavo Growers, Inc.		5,675		191,985
Fresh Del Monte Produce, Inc.		15,216		466,370
Limoneira Co.		4,764		104,665
Sanderson Farms, Inc.		9,767		949,353
Seaboard Corp. (a)		120		362,432
				3,225,002
Air Transport — 0.7%
Air Transport Services Group, Inc. (a)		22,221		185,990
Allegiant Travel Co.		5,844		688,248
Atlas Air Worldwide Holdings, Inc. (a)		10,731		395,437
Bristow Group, Inc.		15,047		1,213,089
Era Group, Inc. (a)		8,623		247,308
Hawaiian Holdings, Inc. (a)		19,132		262,300
JetBlue Airways Corp. (a)		105,440		1,144,024
PHI, Inc. (a)		5,314		236,845
Republic Airways Holdings, Inc. (a)		21,217		229,992
SkyWest, Inc.		21,736		265,614
				4,868,847
Alternative Energy — 0.2%
Ameresco, Inc., Class A (a)		8,485		59,649
Amyris, Inc. (a)(b)		11,591		43,234
EnerNOC, Inc. (a)		11,463		217,224
Green Plains Renewable Energy, Inc.		15,840		520,661
REX American Resources Corp. (a)		2,655		194,638
Solazyme, Inc. (a)(b)		32,311		380,624
				1,416,030
Common Stocks	Shares		Value
Aluminum — 0.1%
Century Aluminum Co. (a)		21,772	$	341,385
Kaiser Aluminum Corp.		7,604		554,103
Noranda Aluminum Holding Corp.		18,735		66,135
				961,623
Asset Management & Custodian — 0.6%
Arlington Asset Investment Corp.		8,027		219,378
Calamos Asset Management, Inc., Class A		7,239		96,930
CIFC Corp.		2,412		21,732
Cohen & Steers, Inc.		8,216		356,410
Cowen Group, Inc., Class A (a)		48,838		206,096
Diamond Hill Investment Group, Inc.		1,192		152,242
Financial Engines, Inc.		21,820		988,010
GAMCO Investors, Inc., Class A		2,715		225,481
KCG Holdings, Inc., Class A (a)		22,433		266,504
Manning & Napier, Inc.		5,755		99,331
Oppenheimer Holdings, Inc., Class A		4,296		103,061
Pzena Investment Management, Inc., Class A		4,759		53,110
RCS Capital Corp., Class A		1,803		38,278
Resource America, Inc., Class A		5,735		53,622
Silvercrest Asset Management Group, Inc., Class A		2,420		41,648
Virtus Investment Partners, Inc. (a)		2,998		634,827
Westwood Holdings Group, Inc.		3,088		185,404
WisdomTree Investments, Inc. (a)		45,775		565,779
				4,307,843
Auto Parts — 1.0%
American Axle & Manufacturing Holdings, Inc. (a)		28,709		542,313
Dana Holding Corp.		66,441		1,622,489
Dorman Products, Inc. (a)		11,438		564,122
Federal-Mogul Corp. (a)		12,188		246,563
Fox Factory Holding Corp. (a)		4,761		83,746
Fuel Systems Solutions, Inc. (a)		6,093		67,876
Gentherm, Inc. (a)		14,932		663,728
Meritor, Inc. (a)		41,497		541,121
Remy International, Inc.		6,036		140,941
Standard Motor Products, Inc.		8,393		374,915
Stoneridge, Inc. (a)		12,178		130,548
Superior Industries International, Inc.		9,957		205,313
Tenneco, Inc. (a)		25,791		1,694,469
Tower International, Inc. (a)		8,707		320,766
				7,198,910
Auto Services — 0.1%
Cooper Tire & Rubber Co.		26,963		808,890
Back Office Support, HR & Consulting — 1.8%
The Advisory Board Co. (a)		15,599		808,028
Angie’s List, Inc. (a)		18,559		221,594
Arrowhead Research Corp. (a)		21,967		314,348
Barrett Business Services, Inc.		3,033		142,551
CBIZ, Inc. (a)		17,612		159,036
CDI Corp.		5,959		85,869
Convergys Corp.		43,319		928,759
The Corporate Executive Board Co.		14,415		983,391
Corporate Resource Services, Inc. (a)		6,542		19,495
CRA International, Inc. (a)		4,401		101,443
Dice Holdings, Inc. (a)		16,926		128,807
ExlService Holdings, Inc. (a)		14,028		413,125
Forrester Research, Inc.		4,796		181,673
FTI Consulting, Inc. (a)		17,416		658,673
GP Strategies Corp. (a)		6,359		164,571
The Hackett Group, Inc.		11,412		68,130
Heidrick & Struggles International, Inc.		7,683		142,136
Huron Consulting Group, Inc. (a)		10,033		710,537
ICF International, Inc. (a)		8,576		303,247
Insperity, Inc.		9,608		317,064
Kelly Services, Inc., Class A		11,572		198,691

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 33

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Back Office Support, HR & Consulting (concluded)
Kforce, Inc.		11,576	$	250,620
Korn/Ferry International (a)		21,087		619,325
Liquidity Services, Inc. (a)		11,313		178,293
MAXIMUS, Inc.		28,823		1,239,966
Monster Worldwide, Inc. (a)		38,748		253,412
Navigant Consulting, Inc. (a)		21,121		368,561
On Assignment, Inc. (a)		23,024		818,964
Paylocity Holding Corp. (a)		3,595		77,760
PRGX Global, Inc. (a)		12,925		82,591
Resources Connection, Inc.		16,921		221,834
RPX Corp. (a)		22,782		404,381
ServiceSource International, Inc. (a)		29,605		171,709
Sykes Enterprises, Inc. (a)		16,934		367,976
TeleTech Holdings, Inc. (a)		7,658		222,005
TriNet Group, Inc. (a)		6,759		162,689
TrueBlue, Inc. (a)		17,556		484,019
WageWorks, Inc. (a)		14,877		717,220
				13,692,493
Banks: Diversified — 7.3%
1st Source Corp.		6,362		194,804
1st United Bancorp, Inc.		12,627		108,845
Ambac Financial Group, Inc. (a)		19,197		524,270
American National Bankshares, Inc.		3,346		72,709
Ameris Bancorp (a)		10,676		230,175
Ames National Corp.		3,531		81,707
Arrow Financial Corp.		4,538		117,716
Bancfirst Corp.		2,994		185,329
Banco Latinoamericano de Comercio Exterior SA		12,528		371,706
The Bancorp, Inc. (a)		14,098		167,907
BancorpSouth, Inc.		40,779		1,001,940
The Bank of Kentucky Financial Corp.		2,598		90,384
Bank of Marin Bancorp		2,492		113,610
Bank of the Ozarks, Inc.		33,745		1,128,770
Banner Corp.		8,299		328,889
BBCN Bancorp, Inc.		33,744		538,217
BBX Capital Corp. (a)		3,643		65,574
BNC Bancorp		8,299		141,664
Boston Private Financial Holdings, Inc.		33,899		455,603
Bridge Bancorp, Inc.		4,913		117,863
Bridge Capital Holdings (a)		4,123		99,818
Bryn Mawr Bank Corp.		5,804		169,012
Camden National Corp.		3,157		122,365
Capital City Bank Group, Inc.		4,534		65,879
Capitol Federal Financial, Inc.		60,622		737,164
Cardinal Financial Corp.		13,615		251,333
Cascade Bancorp (a)		13,134		68,428
Cathay General Bancorp		33,774		863,263
Centerstate Banks, Inc.		15,168		169,882
Central Pacific Financial Corp.		7,281		144,528
Century Bancorp, Inc., Class A		1,441		50,925
Charter Financial Corp.		9,379		104,107
Chemical Financial Corp.		12,671		355,802
Citizens & Northern Corp.		5,290		103,102
City Holding Co.		6,667		300,815
CNB Financial Corp.		6,189		103,975
CoBiz Financial, Inc.		15,314		164,932
Columbia Banking System, Inc.		22,307		586,897
Community Bank System, Inc.		17,223		623,473
Community Trust Bancorp, Inc.		6,633		226,981
CommunityOne Bancorp (a)		4,620		44,814
ConnectOne Bancorp, Inc.		4,949		95,169
CU Bancorp (a)		4,208		80,247
Customers Bancorp, Inc. (a)		10,847		217,040
CVB Financial Corp.		44,960		720,709
Eagle Bancorp, Inc. (a)		9,656		325,890
Enterprise Bancorp, Inc.		3,122		64,407
Common Stocks	Shares		Value
Banks: Diversified (continued)
Enterprise Financial Services Corp.		8,388	$	151,487
EverBank Financial Corp.		38,562		777,410
Fidelity Southern Corp.		7,130		92,619
Financial Institutions, Inc.		5,872		137,522
First Bancorp, Inc.		4,038		70,503
First Bancorp, North Carolina		8,401		154,158
First Bancorp, Puerto Rico (a)		44,684		243,081
First Busey Corp.		30,809		179,000
First Business Financial Services, Inc.		1,599		75,201
First Citizens BancShares, Inc., Class A		3,199		783,755
First Commonwealth Financial Corp.		40,025		369,030
First Community Bancshares, Inc.		6,988		100,138
First Connecticut Bancorp, Inc.		6,783		108,867
First Financial Bancorp		24,444		420,681
First Financial Bankshares, Inc.		27,190		852,950
First Financial Corp.		4,851		156,154
First Interstate Bancsystem, Inc.		7,638		207,601
First Merchants Corp.		15,291		323,252
First Midwest Bancorp, Inc.		31,965		544,364
First NBC Bank Holding Co. (a)		6,352		212,856
The First of Long Island Corp.		3,395		132,677
FirstMerit Corp.		70,184		1,386,134
Flagstar Bancorp, Inc. (a)		8,573		155,171
FNB Corp.		70,647		905,695
German American Bancorp, Inc.		5,665		153,408
Glacier Bancorp, Inc.		31,583		896,326
Guaranty Bancorp		6,198		86,152
Hampton Roads Bankshares, Inc. (a)		14,153		24,485
Hancock Holding Co.		34,874		1,231,750
Hanmi Financial Corp.		13,453		283,589
Heartland Financial USA, Inc.		6,630		163,960
Heritage Commerce Corp.		8,939		73,032
Heritage Oaks Bancorp (a)		9,568		73,004
Home BancShares, Inc.		22,937		752,792
Horizon Bancorp		3,926		85,744
Hudson Valley Holding Corp.		6,337		114,383
Iberiabank Corp.		13,298		920,089
Independent Bank Corp./MA		10,130		388,789
Independent Bank Corp./MI		8,253		106,216
Independent Bank Group, Inc.		3,851		214,385
International Bancshares Corp.		23,097		623,619
Janus Capital Group, Inc.		63,462		792,006
Lakeland Bancorp, Inc.		16,234		175,325
Lakeland Financial Corp.		6,997		267,006
Macatawa Bank Corp.		11,349		57,539
MainSource Financial Group, Inc.		8,697		150,023
MB Financial, Inc.		23,403		633,051
Mercantile Bank Corp.		7,057		161,464
Merchants Bancshares, Inc.		2,177		69,620
Meridian Interstate Bancorp, Inc. (a)		3,497		89,803
Metro Bancorp, Inc. (a)		6,060		140,107
MidSouth Bancorp, Inc.		3,630		72,201
NASB Financial, Inc.		1,585		37,485
National Bank Holdings Corp., Class A		17,397		346,896
National Bankshares, Inc.		2,975		91,898
National Penn Bancshares, Inc.		49,828		527,180
NBT Bancorp, Inc.		18,507		444,538
NewBridge Bancorp (a)		14,135		113,928
Northrim BanCorp, Inc.		2,851		72,900
OFG Bancorp		19,215		353,748
Old Line Bancshares, Inc.		3,195		50,353
Old National Bancorp		44,962		642,057
Opus Bank (a)		1,996		58,004
Pacific Continental Corp.		7,681		105,460
Pacific Premier Bancorp, Inc. (a)		7,279		102,561
Palmetto Bancshares, Inc. (a)		1,830		26,334
Park National Corp.		5,401		416,957

See Notes to Financial Statements.

34 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Banks: Diversified (concluded)
Park Sterling Corp.		19,121	$	126,007
Peapack Gladstone Financial Corp.		5,131		108,829
Penns Woods Bancorp, Inc.		2,018		95,048
Peoples Bancorp, Inc.		4,616		122,093
Peoples Financial Services Corp.		3,085		158,538
Pinnacle Financial Partners, Inc.		15,080		595,358
Preferred Bank (a)		4,920		116,309
PrivateBancorp, Inc.		30,389		883,104
Prosperity Bancshares, Inc.		29,565		1,850,769
Provident Financial Services, Inc.		25,528		442,145
Renasant Corp.		13,332		387,561
Republic Bancorp, Inc., Class A		4,218		100,051
Republic First Bancorp, Inc. (a)		12,795		64,487
S&T Bancorp, Inc.		12,614		313,458
Sandy Spring Bancorp, Inc.		10,641		265,067
Seacoast Banking Corp. of Florida (a)		8,112		88,177
ServisFirst Bancshares, Inc. (a)		244		21,089
Sierra Bancorp		5,212		82,350
Simmons First National Corp., Class A		6,897		271,673
South State Corp.		10,211		622,871
Southside Bancshares, Inc. (b)		7,987		231,304
Southwest Bancorp, Inc.		8,433		143,867
Square 1 Financial, Inc. (a)		2,366		44,978
State Bank Financial Corp.		13,649		230,805
Stock Yards Bancorp, Inc.		6,241		186,606
Stonegate Bank		4,000		100,800
Suffolk Bancorp (a)		4,937		110,144
Sun Bancorp, Inc. (a)		18,214		73,038
Susquehanna Bancshares, Inc.		79,742		842,076
Talmer Bancorp, Inc., Class A (a)		7,692		106,073
Taylor Capital Group, Inc. (a)		7,443		159,131
Texas Capital Bancshares, Inc. (a)		18,270		985,666
Tompkins Financial Corp.		6,273		302,233
TowneBank		12,434		195,338
Trico Bancshares		6,877		159,134
Tristate Capital Holdings, Inc. (a)		9,023		127,495
TrustCo Bank Corp. NY		40,346		269,511
Trustmark Corp.		28,653		707,443
UMB Financial Corp.		16,013		1,015,064
Umpqua Holdings Corp.		70,664		1,266,299
Union Bankshares Corp.		19,621		503,279
United Bankshares, Inc.		29,264		946,105
United Community Banks, Inc.		21,215		347,290
United Community Financial Corp. (a)		21,451		88,593
Univest Corp. of Pennsylvania		6,873		142,271
Valley National Bancorp		85,094		843,282
VantageSouth Bancshares, Inc. (a)(b)		8,534		50,777
Washington Trust Bancorp, Inc.		6,217		228,599
Webster Financial Corp.		38,266		1,206,910
WesBanco, Inc.		11,128		345,413
West BanCorp., Inc.		6,627		100,929
Westamerica BanCorp		11,168		583,863
Western Alliance Bancorp (a)		31,999		761,576
Wilshire Bancorp, Inc.		29,883		306,898
Wintrust Financial Corp.		19,736		907,856
Yadkin Financial Corp. (a)		5,824		109,724
				55,074,466
Banks: Savings, Thrift & Mortgage Lending — 1.4%
Apollo Residential Mortgage, Inc.		13,427		224,500
Astoria Financial Corp.		36,745		494,220
Banc of California, Inc.		12,688		138,299
Bank Mutual Corp.		19,996		115,977
BankFinancial Corp.		7,945		88,666
Beneficial Mutual Bancorp, Inc. (a)		12,379		167,859
Berkshire Hills Bancorp, Inc.		10,665		247,641
BofI Holding, Inc. (a)		6,019		442,216
Common Stocks	Shares		Value
Banks: Savings, Thrift & Mortgage Lending (concluded)
Brookline Bancorp, Inc.		29,968	$	280,800
Clifton Bancorp, Inc.		10,872		137,748
Dime Community Bancshares, Inc.		13,908		219,607
ESB Financial Corp.		5,515		71,364
First Defiance Financial Corp.		4,072		116,866
First Financial Northwest, Inc.		6,168		67,046
Flushing Financial Corp.		12,795		262,937
Fox Chase Bancorp, Inc.		5,072		85,514
Franklin Financial Corp. (a)		4,014		87,104
Great Southern Bancorp, Inc.		4,395		140,860
Heritage Financial Corp.		12,754		205,212
Home Loan Servicing Solutions Ltd.		29,964		681,082
HomeStreet, Inc.		6,261		115,015
Investors Bancorp, Inc.		151,825		1,677,666
Kearny Financial Corp. (a)		5,918		89,599
Ladder Capital Corp., Class A (a)		6,547		118,304
Northfield Bancorp, Inc.		22,489		294,831
Northwest Bancshares, Inc.		39,932		541,877
OceanFirst Financial Corp.		5,667		93,846
OmniAmerican Bancorp, Inc.		4,866		121,650
Oritani Financial Corp.		19,321		297,350
Sterling Bancorp		35,554		426,648
Territorial Bancorp, Inc.		3,664		76,504
United Financial Bancorp, Inc.		22,365		303,046
ViewPoint Financial Group, Inc.		16,908		454,994
Washington Federal, Inc.		42,955		963,481
Waterstone Financial, Inc.		14,632		166,951
WSFS Financial Corp.		3,750		276,263
				10,293,543
Beverage: Brewers & Distillers — 0.1%
The Boston Beer Co., Inc., Class A (a)		3,524		787,684
Craft Brew Alliance, Inc. (a)		4,610		50,987
				838,671
Beverage: Soft Drinks — 0.0%
Coca-Cola Bottling Co. Consolidated		1,958		144,246
Farmer Bros Co. (a)		3,115		67,315
National Beverage Corp. (a)		4,822		91,232
				302,793
Biotechnology — 4.9%
Acceleron Pharma, Inc. (a)		6,962		236,499
Acorda Therapeutics, Inc. (a)		17,661		595,352
Actinium Pharmaceuticals, Inc. (a)		8,313		60,020
Aegerion Pharmaceuticals, Inc. (a)		12,540		402,409
Agenus, Inc. (a)		25,804		83,089
Akebia Therapeutics, Inc. (a)		3,364		93,486
Albany Molecular Research, Inc. (a)		9,985		200,898
Alder Biopharmaceuticals, Inc. (a)		3,433		68,900
Alimera Sciences, Inc. (a)		10,857		64,925
AMAG Pharmaceuticals, Inc. (a)		9,281		192,302
ANI Pharmaceuticals, Inc. (a)		2,876		99,049
Applied Genetic Technologies Corp. (a)		2,067		47,748
Arena Pharmaceuticals, Inc. (a)		93,053		545,291
Ariad Pharmaceuticals, Inc. (a)		70,070		446,346
Array BioPharma, Inc. (a)		53,532		244,106
Bio Path Holdings, Inc. (a)		31,100		94,855
BioCryst Pharmaceuticals, Inc. (a)		29,670		378,292
BioDelivery Sciences International, Inc. (a)		17,718		213,856
BioTelemetry, Inc. (a)		11,169		80,082
Biotime, Inc. (a)(b)		22,183		67,658
Bluebird Bio, Inc. (a)		8,089		311,993
Celldex Therapeutics, Inc. (a)		37,915		618,773
Cellular Dynamics International, Inc. (a)(b)		4,032		58,746
Cepheid, Inc. (a)		29,524		1,415,381
ChemoCentryx, Inc. (a)(b)		11,665		68,240

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 35

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Biotechnology (continued)
Clovis Oncology, Inc. (a)		10,451	$	432,776
CTI BioPharma Corp. (a)		56,809		159,633
Cytokinetics, Inc. (a)		14,800		70,744
Cytori Therapeutics, Inc. (a)(b)		29,158		69,688
CytRx Corp. (a)		24,104		100,755
Dendreon Corp. (a)(b)		68,391		157,299
Durata Therapeutics, Inc. (a)(b)		6,544		111,444
Dyax Corp. (a)		57,505		552,048
Dynavax Technologies Corp. (a)		112,090		179,344
Eleven Biotherapeutics, Inc. (a)		1,919		25,292
Emergent Biosolutions, Inc. (a)		12,399		278,482
Enzo Biochem, Inc. (a)		14,557		76,424
Epizyme, Inc. (a)		5,416		168,546
Exact Sciences Corp. (a)(b)		35,090		597,583
Exelixis, Inc. (a)(b)		82,717		280,411
Five Prime Therapeutics, Inc. (a)		7,371		114,619
Foundation Medicine, Inc. (a)		5,913		159,414
Furiex Pharmaceuticals, Inc. (a)		3,003		318,859
Galena Biopharma, Inc. (a)(b)		50,126		153,386
GenMark Diagnostics, Inc. (a)		17,604		238,182
Genocea Biosciences, Inc. (a)		1,630		30,563
Genomic Health, Inc. (a)		7,091		194,293
Geron Corp. (a)		66,698		214,101
Halozyme Therapeutics, Inc. (a)		43,887		433,604
Heron Therapeutics, Inc. (a)		8,149		100,396
Horizon Pharma, Inc. (a)		27,490		434,892
Hyperion Therapeutics, Inc. (a)		5,750		150,075
Idenix Pharmaceuticals, Inc. (a)		49,760		1,199,216
Idera Pharmaceuticals, Inc. (a)		25,943		75,235
IGI Laboratories, Inc. (a)		12,168		64,612
Immunogen, Inc. (a)		36,496		432,478
Immunomedics, Inc. (a)		35,374		129,115
Inovio Pharmaceuticals, Inc. (a)		25,519		275,860
Insmed, Inc. (a)		16,657		332,807
Insys Therapeutics, Inc. (a)(b)		4,233		132,197
InterMune, Inc. (a)		41,872		1,848,649
Intrexon Corp. (a)(b)		15,122		380,016
Karyopharm Therapeutics, Inc. (a)(b)		5,235		243,689
Keryx Biopharmaceuticals, Inc. (a)(b)		38,745		595,898
Kindred Biosciences, Inc. (a)		4,468		83,284
Lexicon Pharmaceuticals, Inc. (a)		97,672		157,252
Liberator Medical Holdings, Inc.		13,178		49,417
Ligand Pharmaceuticals, Inc., Class B (a)		8,755		545,349
MacroGenics, Inc. (a)		8,472		184,097
MannKind Corp. (a)(b)		96,655		1,062,238
Merrimack Pharmaceuticals, Inc. (a)(b)		41,636		303,526
Mirati Therapeutics, Inc. (a)		2,975		59,500
Momenta Pharmaceuticals, Inc. (a)		20,422		246,698
Nektar Therapeutics (a)		53,802		689,742
Neuralstem, Inc. (a)		28,817		121,608
Neurocrine Biosciences, Inc. (a)		32,122		476,690
NewLink Genetics Corp. (a)		8,377		222,409
Northwest Biotherapeutics, Inc. (a)		14,989		100,576
Novavax, Inc. (a)		88,603		409,346
NPS Pharmaceuticals, Inc. (a)		45,025		1,488,076
Omeros Corp. (a)(b)		14,326		249,272
OncoMed Pharmaceuticals, Inc. (a)(b)		5,421		126,309
Oncothyreon, Inc. (a)		29,753		96,400
Ophthotech Corp. (a)		5,863		248,064
Opko Health, Inc. (a)(b)		83,437		737,583
Orexigen Therapeutics, Inc. (a)		49,436		305,514
Organovo Holdings, Inc. (a)		26,557		221,751
Osiris Therapeutics, Inc. (a)		7,973		124,538
Pacific Biosciences of California, Inc. (a)		24,403		150,811
PDL BioPharma, Inc.		68,236		660,524
Peregrine Pharmaceuticals, Inc. (a)(b)		74,995		140,991
Peregrine Semiconductor Corp. (a)		11,797		80,927
Common Stocks	Shares		Value
Biotechnology (concluded)
Progenics Pharmaceuticals, Inc. (a)		29,396	$	126,697
Prothena Corp. PLC (a)		9,235		208,249
PTC Therapeutics, Inc. (a)		9,395		245,585
Puma Biotechnology, Inc. (a)		9,827		648,582
RadNet, Inc. (a)		13,985		92,721
Raptor Pharmaceutical Corp. (a)(b)		26,424		305,197
Regado Biosciences, Inc. (a)		6,473		43,952
Regulus Therapeutics, Inc. (a)		5,836		46,921
Repligen Corp. (a)		13,549		308,782
Repros Therapeutics, Inc. (a)		9,777		169,142
Retrophin, Inc. (a)		8,964		105,237
Rigel Pharmaceuticals, Inc. (a)		37,244		135,196
Rockwell Medical, Inc. (a)(b)		17,266		207,019
RTI Surgical, Inc. (a)		23,911		104,013
Sangamo Biosciences, Inc. (a)		28,805		439,852
Sarepta Therapeutics, Inc. (a)		17,243		513,669
Sequenom, Inc. (a)(b)		49,491		191,530
Stemline Therapeutics, Inc. (a)		4,800		70,416
Sucampo Pharmaceuticals, Inc., Class A (a)		7,493		51,702
Sunesis Pharmaceuticals, Inc. (a)		20,959		136,653
Symmetry Medical, Inc. (a)		15,916		141,016
Synageva BioPharma Corp. (a)		9,036		946,973
Synergy Pharmaceuticals, Inc. (a)(b)		39,786		161,929
Synta Pharmaceuticals Corp. (a)(b)		25,069		102,532
TESARO, Inc. (a)		8,170		254,169
Theravance, Inc. (a)		34,905		1,039,471
Threshold Pharmaceuticals, Inc. (a)		21,866		86,589
Vanda Pharmaceuticals, Inc. (a)		14,406		233,089
Veracyte, Inc. (a)		2,754		47,148
Verastem, Inc. (a)		8,990		81,449
Versartis, Inc. (a)		2,948		82,662
Vital Therapies, Inc. (a)		2,226		60,636
West Pharmaceutical Services, Inc.		29,924		1,262,194
Wright Medical Group, Inc. (a)		21,060		661,284
Xencor Inc. (a)		6,336		73,624
XOMA Corp. (a)		35,658		163,670
ZIOPHARM Oncology, Inc. (a)(b)		34,359		138,467
				37,231,430
Building Materials — 0.9%
Builders FirstSource, Inc. (a)		19,498		145,845
Continental Building Products, Inc. (a)		5,110		78,694
Gibraltar Industries, Inc. (a)		13,095		203,103
Griffon Corp.		16,926		209,882
Headwaters, Inc. (a)		31,241		433,938
Louisiana-Pacific Corp. (a)		60,073		902,296
LSI Industries, Inc.		9,121		72,786
Masonite International Corp. (a)		12,516		704,150
NCI Building Systems, Inc. (a)		11,957		232,325
Patrick Industries, Inc. (a)		3,459		161,155
PGT, Inc. (a)		20,333		172,221
Quanex Building Products Corp.		16,066		287,099
Revolution Lighting Technologies, Inc. (a)(b)		14,116		32,467
Simpson Manufacturing Co., Inc.		17,550		638,118
Stock Building Supply Holdings, Inc. (a)		6,195		122,227
Texas Industries, Inc. (a)		9,436		871,509
Trex Co., Inc. (a)		14,329		412,962
Watsco, Inc.		10,945		1,124,708
				6,805,485
Building: Climate Control — 0.1%
AAON, Inc.		11,949		400,531
Comfort Systems USA, Inc.		16,118		254,664
Nortek, Inc. (a)		3,843		344,948
				1,000,143
Building: Roofing, Wallboard & Plumbing — 0.1%
Beacon Roofing Supply, Inc. (a)		21,039		696,812

See Notes to Financial Statements.

36 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Casinos & Gambling — 0.4%
Boyd Gaming Corp. (a)		32,984	$	400,096
Caesars Acquisition Co., Class A (a)		19,432		240,374
Caesars Entertainment Corp. (a)		21,679		391,956
Empire Resorts, Inc. (a)		6,185		44,285
Isle of Capri Casinos, Inc. (a)		9,210		78,838
Monarch Casino & Resort, Inc. (a)		3,965		60,030
Multimedia Games Holding Co., Inc. (a)		12,558		372,219
Penn National Gaming, Inc. (a)		33,159		402,550
Pinnacle Entertainment, Inc. (a)		25,287		636,727
Scientific Games Corp., Class A (a)		21,555		239,691
				2,866,766
Cement — 0.0%
U.S. Concrete, Inc. (a)		6,038		149,440
Chemicals: Diversified — 1.3%
Aceto Corp.		12,203		221,362
American Vanguard Corp.		12,426		164,272
Axiall Corp.		29,633		1,400,752
Chemtura Corp. (a)		40,742		1,064,589
Hawkins, Inc.		4,465		165,830
Innophos Holdings, Inc.		9,277		534,077
KMG Chemicals, Inc.		3,940		70,841
Landec Corp. (a)		11,330		141,512
LSB Industries, Inc. (a)		8,219		342,486
Marrone Bio Innovations, Inc. (a)(b)		4,828		56,101
Olin Corp.		33,522		902,412
OM Group, Inc.		13,598		440,983
OMNOVA Solutions, Inc. (a)		20,168		183,327
PolyOne Corp.		39,853		1,679,405
Sensient Technologies Corp.		20,953		1,167,501
Taminco Corp. (a)		12,076		280,888
Tronox Ltd., Class A		26,040		700,476
				9,516,814
Chemicals: Specialty — 0.6%
Advanced Emissions Solutions, Inc. (a)		9,206		211,094
Balchem Corp.		12,886		690,174
Calgon Carbon Corp. (a)		22,603		504,725
FutureFuel Corp.		9,216		152,894
Innospec, Inc.		10,335		446,162
Kraton Performance Polymers, Inc. (a)		13,908		311,400
Polypore International, Inc. (a)		19,099		911,595
Quaker Chemical Corp.		5,604		430,331
Stepan Co.		8,138		430,175
Zep, Inc.		9,755		172,273
				4,260,823
Coal — 0.2%
Arch Coal, Inc. (b)		89,947		328,306
Cloud Peak Energy, Inc. (a)		25,916		477,373
Hallador Energy Co.		3,731		35,407
Walter Energy, Inc. (b)		27,776		151,379
Westmoreland Coal Co. (a)		5,627		204,148
				1,196,613
Commercial Banks — 0.0%
HomeTrust Bancshares, Inc. (a)		8,305		130,970
Commercial Finance & Mortgage Companies — 0.1%
Capital Bank Financial Corp., Class A (a)		10,114		238,792
Federal Agricultural Mortgage Corp., Class C		4,442		138,057
Meta Financial Group, Inc.		2,585		103,400
NewStar Financial, Inc. (a)		11,373		159,904
PennyMac Financial Services, Inc. (a)(c)		5,912		89,803
RE/MAX Holdings, Inc., Class A		4,592		135,877
Stonegate Mortgage Corp. (a)		6,044		84,314
Walker & Dunlop, Inc. (a)		7,853		110,806
				1,060,953
Common Stocks	Shares		Value
Commercial Services & Supplies — 0.3%
ARC Document Solutions, Inc. (a)		17,584	$	103,042
Civeo Corp. (a)		39,781		995,718
Collectors Universe		2,815		55,146
Hill International, Inc. (a)		10,133		63,129
Information Services Group, Inc. (a)		13,519		65,026
LifeLock, Inc. (a)		34,140		476,594
National Research Corp. (a)		4,056		56,743
National Research Corp., Class B (a)		262		10,229
Performant Financial Corp. (a)		12,646		127,725
Quest Resource Holding Corp. (a)		4,700		24,487
Weight Watchers International, Inc.		11,944		240,911
				2,218,750
Commercial Services: Rental & Leasing — 0.5%
Aircastle Ltd.		27,386		486,649
CAI International, Inc. (a)		7,376		162,346
Electro Rent Corp.		6,947		116,223
H&E Equipment Services, Inc. (a)		13,263		481,977
Marlin Business Services Corp.		3,563		64,811
McGrath RentCorp		10,985		403,699
Mobile Mini, Inc.		19,793		947,887
PHH Corp. (a)		24,367		559,954
TAL International Group, Inc. (a)		14,429		640,070
				3,863,616
Commercial Vehicles & Parts — 0.3%
Accuride Corp. (a)		16,429		80,338
Commercial Vehicle Group, Inc. (a)		11,134		111,785
Cooper-Standard Holding, Inc. (a)		5,766		381,479
Miller Industries, Inc.		4,704		96,808
Modine Manufacturing Co. (a)		20,197		317,901
Motorcar Parts of America, Inc. (a)		6,304		153,502
Rush Enterprises, Inc., Class A (a)		14,535		503,928
Spartan Motors, Inc.		14,520		65,921
Strattec Security Corp.		1,439		92,801
Wabash National Corp. (a)		29,219		416,371
				2,220,834
Communications Equipment — 0.1%
Aerohive Networks, Inc. (a)		3,939		32,379
Polycom, Inc. (a)		58,561		733,769
Ruckus Wireless, Inc. (a)		27,628		329,049
				1,095,197
Communications Technology — 1.8%
ADTRAN, Inc.		23,936		539,996
Alliance Fiber Optic Products, Inc.		5,285		95,658
Anixter International, Inc.		11,486		1,149,404
Aruba Networks, Inc. (a)		45,250		792,780
Bel Fuse, Inc., Class B		4,230		108,584
Black Box Corp.		6,534		153,157
Calix, Inc. (a)		17,744		145,146
Ciena Corp. (a)		44,560		965,170
Comtech Telecommunications Corp.		6,430		240,032
Cyan, Inc. (a)		11,482		46,272
Datalink Corp. (a)		8,617		86,170
Digi International, Inc. (a)		10,792		101,661
DigitalGlobe, Inc. (a)		32,012		889,934
Emulex Corp. (a)		33,900		193,230
Enventis Corp.		5,768		91,365
Extreme Networks, Inc. (a)		40,879		181,503
Finisar Corp. (a)		40,993		809,612
General Cable Corp.		20,623		529,186
Harmonic, Inc. (a)		40,240		300,190
Infinera Corp. (a)		52,003		478,428
Intelsat SA (a)		11,694		220,315
InterDigital, Inc.		17,157		820,105
Ixia (a)		24,542		280,515

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 37

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Communications Technology (concluded)
KVH Industries, Inc. (a)		6,756	$	88,031
Loral Space & Communications, Inc. (a)		5,537		402,484
NETGEAR, Inc. (a)		15,477		538,135
Numerex Corp., Class A (a)		6,348		72,938
Oplink Communications, Inc. (a)		7,855		133,299
Parkervision, Inc. (a)(b)		41,777		61,830
Plantronics, Inc.		18,037		866,678
Procera Networks, Inc. (a)		8,853		89,327
QLogic Corp. (a)		37,083		374,167
RingCentral, Inc., Class A (a)		11,906		180,138
Seachange International, Inc. (a)		14,046		112,508
ShoreTel, Inc. (a)		26,507		172,826
Sonus Networks, Inc. (a)		103,910		373,037
TeleNav, Inc. (a)		11,386		64,786
ViaSat, Inc. (a)		17,534		1,016,271
				13,764,868
Computer Services Software & Systems — 5.9%
A10 Networks, Inc. (a)		5,452		72,512
ACI Worldwide, Inc. (a)(d)		16,514		921,977
Actuate Corp. (a)		19,614		93,559
Acxiom Corp. (a)		32,742		710,174
American Software, Inc., Class A		10,307		101,833
Aspen Technology, Inc. (a)		38,986		1,808,950
AVG Technologies NV (a)		14,819		298,306
Bankrate, Inc. (a)		28,423		498,539
Barracuda Networks, Inc. (a)(b)		3,332		103,359
Bazaarvoice, Inc. (a)		21,215		167,386
Benefitfocus, Inc. (a)		2,063		95,352
Blackbaud, Inc.		19,607		700,754
Blucora, Inc. (a)		17,898		337,735
Bottomline Technologies, Inc. (a)		16,684		499,185
Brightcove, Inc. (a)		13,620		143,555
BroadSoft, Inc. (a)		12,147		320,559
CACI International, Inc., Class A (a)		10,057		706,102
Callidus Software, Inc. (a)		19,473		232,508
CIBER, Inc. (a)		33,362		164,808
CommVault Systems, Inc. (a)		20,024		984,580
Computer Task Group, Inc.		6,625		109,047
ComScore, Inc. (a)		14,640		519,427
Cornerstone OnDemand, Inc. (a)		22,511		1,035,956
Covisint Corp. (a)		3,297		16,023
CSG Systems International, Inc.		14,653		382,590
Cvent, Inc. (a)		7,615		221,520
DealerTrack Holdings, Inc. (a)		22,705		1,029,445
Demand Media, Inc. (a)		18,641		89,850
Demandware, Inc. (a)		12,717		882,178
Digimarc Corp.		2,721		88,705
Digital River, Inc. (a)		13,838		213,520
Dot Hill Systems Corp. (a)		25,468		119,700
EarthLink Holdings Corp.		42,931		159,703
Ebix, Inc. (b)		13,118		187,719
Endurance International Group Holdings, Inc. (a)(b)		12,769		195,238
Envestnet, Inc. (a)		14,415		705,182
EPAM Systems, Inc. (a)		15,087		660,056
EPIQ Systems, Inc.		13,172		185,067
ePlus, Inc. (a)		2,194		127,691
Guidance Software, Inc. (a)		7,561		68,956
Guidewire Software, Inc. (a)		28,814		1,171,577
ICG Group, Inc. (a)		17,374		362,769
iGATE Corp. (a)		15,649		569,467
Imperva, Inc. (a)		9,451		247,427
Infoblox, Inc. (a)		22,993		302,358
Interactive Intelligence Group, Inc. (a)		7,113		399,253
Internap Network Services Corp. (a)		23,454		165,351
IntraLinks Holdings, Inc. (a)		16,692		148,392
Jive Software, Inc. (a)		18,092		153,963
Common Stocks	Shares		Value
Computer Services Software & Systems (concluded)
The KEYW Holding Corp. (a)(b)		13,875	$	174,409
Limelight Networks, Inc. (a)		25,852		79,107
Lionbridge Technologies, Inc. (a)		27,828		165,298
LivePerson, Inc. (a)		22,972		233,166
LogMeIn, Inc. (a)		10,280		479,254
Luxoft Holding, Inc. (a)		3,324		119,863
Manhattan Associates, Inc. (a)		32,089		1,104,824
Mantech International Corp., Class A		10,295		303,908
Mavenir Systems, Inc. (a)		4,150		62,873
Mentor Graphics Corp.		41,048		885,405
Mercury Systems, Inc. (a)		14,072		159,576
MicroStrategy, Inc., Class A (a)		3,843		540,403
Millennial Media, Inc. (a)		32,576		162,554
ModusLink Global Solutions, Inc. (a)		15,414		57,648
Monotype Imaging Holdings, Inc.		16,739		471,538
Netscout Systems, Inc. (a)		15,434		684,344
NIC, Inc.		27,633		437,983
Nimble Storage, Inc. (a)		3,904		119,931
OpenTable, Inc. (a)		9,967		1,032,581
PDF Solutions, Inc. (a)		12,932		274,417
Pegasystems, Inc.		15,063		318,131
Perficient, Inc. (a)		14,620		284,651
Progress Software Corp. (a)		21,817		524,481
Proofpoint, Inc. (a)		15,667		586,886
PROS Holdings, Inc. (a)		10,017		264,849
Q2 Holdings, Inc. (a)		4,208		60,006
QAD, Inc., Class A		2,480		52,874
QLIK Technologies, Inc. (a)		38,065		861,030
RealNetworks, Inc. (a)		9,370		71,493
RealPage, Inc. (a)		21,988		494,290
Reis, Inc.		3,718		78,375
Rocket Fuel, Inc. (a)(b)		7,796		242,378
Sapiens International Corp. NV (a)		10,472		83,776
Sapient Corp. (a)		48,568		789,230
Science Applications International Corp.		17,905		790,685
SciQuest, Inc. (a)		11,698		206,938
Shutterstock, Inc. (a)		6,456		535,719
SPS Commerce, Inc. (a)		6,927		437,717
SS&C Technologies Holdings, Inc. (a)		28,848		1,275,659
Synchronoss Technologies, Inc. (a)		14,975		523,526
SYNNEX Corp. (a)		12,053		878,061
Syntel, Inc. (a)		6,651		571,720
Tangoe, Inc. (a)(b)		16,447		247,692
TechTarget, Inc. (a)		7,018		61,899
TeleCommunication Systems, Inc., Class A (a)		20,223		66,534
Textura Corp. (a)(b)		7,932		187,512
Travelzoo, Inc. (a)		3,192		61,765
Tremor Video, Inc. (a)		15,127		71,399
Turtle Beach Corp. (a)		2,916		26,944
Tyler Technologies, Inc. (a)		13,983		1,275,389
The Ultimate Software Group, Inc. (a)		12,008		1,659,145
Unisys Corp. (a)		21,831		540,099
Unwired Planet, Inc. (a)		31,168		69,505
Varonis Systems, Inc. (a)		2,270		65,853
VASCO Data Security International, Inc. (a)		12,533		145,383
Verint Systems, Inc. (a)		22,876		1,122,068
VirnetX Holding Corp. (a)(b)		18,181		320,167
Virtusa Corp. (a)		11,127		398,347
Web.com Group, Inc. (a)		21,880		631,676
Wix.com Ltd. (a)(b)		5,839		115,846
YuMe, Inc. (a)(b)		7,674		45,277
Zix Corp. (a)		25,591		87,521
				44,161,441
Computer Technology — 0.5%
Cray, Inc. (a)		17,226		458,211
Immersion Corp. (a)		12,108		154,014

See Notes to Financial Statements.

38 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Computer Technology (concluded)
Insight Enterprises, Inc. (a)		17,311	$	532,140
PC Connection, Inc.		3,991		82,534
Quantum Corp. (a)		93,880		114,534
Safeguard Scientifics, Inc. (a)		8,752		181,954
Silicon Graphics International Corp. (a)(b)		14,632		140,760
Super Micro Computer, Inc. (a)		14,597		368,866
Synaptics, Inc. (a)		15,267		1,383,801
Violin Memory, Inc. (a)(b)		33,745		149,490
				3,566,304
Construction — 0.5%
Aegion Corp. (a)		16,234		377,765
EMCOR Group, Inc.		28,612		1,274,092
Granite Construction, Inc.		16,653		599,175
Great Lakes Dredge & Dock Corp. (a)		25,542		204,081
Orion Marine Group, Inc. (a)		11,883		128,693
Primoris Services Corp.		16,187		466,833
Sterling Construction Co., Inc. (a)		7,976		74,815
Tutor Perini Corp. (a)		15,856		503,269
				3,628,723
Consumer Electronics — 0.2%
RealD, Inc. (a)		17,193		219,383
Skullcandy, Inc. (a)		8,579		62,198
TiVo, Inc. (a)		48,819		630,253
Universal Electronics, Inc. (a)		6,738		329,354
VOXX International Corp. (a)		8,174		76,917
XO Group, Inc. (a)		11,441		139,809
				1,457,914
Consumer Lending — 0.9%
Cash America International, Inc.		11,959		531,338
Credit Acceptance Corp. (a)		2,970		365,607
Encore Capital Group, Inc. (a)		10,900		495,078
Ezcorp, Inc., Class A (a)		21,999		254,088
First Cash Financial Services, Inc. (a)		12,280		707,205
JGWPT Holdings, Inc., Class A (a)		5,018		56,503
Marcus & Millichap, Inc. (a)		3,428		87,448
MGIC Investment Corp. (a)(b)		143,608		1,326,938
MoneyGram International, Inc. (a)		12,534		184,626
Nelnet, Inc., Class A		8,832		365,910
Nicholas Financial, Inc.		4,262		61,202
Portfolio Recovery Associates, Inc. (a)		21,223		1,263,405
Regional Management Corp. (a)		4,538		70,203
Springleaf Holdings, Inc. (a)		10,388		269,569
Tree.com, Inc. (a)		2,686		78,270
World Acceptance Corp. (a)		3,579		271,861
				6,389,251
Consumer Services: Miscellaneous — 0.6%
Chuy’s Holdings, Inc. (a)		6,985		253,556
Core-Mark Holding Co., Inc.		9,681		441,744
Del Frisco’s Restaurant Group, Inc. (a)		9,975		274,911
Move, Inc. (a)		16,814		248,679
Nutrisystem, Inc.		12,165		208,143
Sotheby’s		25,866		1,086,113
Steiner Leisure Ltd. (a)		6,261		271,039
WEX, Inc. (a)		16,475		1,729,381
				4,513,566
Containers & Packaging — 0.4%
AEP Industries, Inc. (a)		1,906		66,462
Berry Plastics Group, Inc. (a)		38,100		982,980
Graphic Packaging Holding Co. (a)		138,946		1,625,668
Myers Industries, Inc.		11,709		235,234
UFP Technologies, Inc. (a)		2,494		60,081
				2,970,425
Common Stocks	Shares		Value
Cosmetics — 0.1%
Elizabeth Arden, Inc. (a)		11,051	$	236,712
Inter Parfums, Inc.		7,062		208,682
Revlon, Inc., Class A (a)		4,831		147,346
				592,740
Diversified Financial Services — 0.8%
Altisource Asset Management Corp. (a)		612		442,513
Altisource Portfolio Solutions SA (a)		6,182		708,333
Blackhawk Network Holdings, Inc. (a)		22,292		629,080
ConnectOne Bancorp, Inc. (a)		1,685		84,065
Evercore Partners, Inc., Class A		14,023		808,286
FBR & Co. (a)		3,945		107,028
Greenhill & Co., Inc.		12,031		592,527
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		9,116		130,723
JTH Holding, Inc., Class A (a)		1,576		52,497
MidWestOne Financial Group, Inc.		2,953		70,842
Moelis & Co. (a)		3,153		105,972
Outerwall, Inc. (a)		8,665		514,268
Piper Jaffray Cos. (a)		6,899		357,161
Stifel Financial Corp. (a)		27,760		1,314,436
Tiptree Financial, Inc., Class A		2,551		22,194
				5,939,925
Diversified Manufacturing Operations — 0.6%
AM Castle & Co. (a)		7,912		87,348
ARC Group Worldwide, Inc. (a)		1,293		19,654
Barnes Group, Inc.		22,991		886,073
Federal Signal Corp.		26,712		391,331
Harsco Corp.		34,255		912,211
Lydall, Inc. (a)		7,169		196,215
OSI Systems, Inc. (a)		8,442		563,503
Raven Industries, Inc.		15,433		511,450
Standex International Corp.		5,416		403,384
Trimas Corp. (a)		19,171		730,990
				4,702,159
Diversified Materials & Processing — 0.6%
Belden, Inc.		18,459		1,442,755
Cabot Microelectronics Corp. (a)		10,196		455,251
CLARCOR, Inc.		21,373		1,321,920
Encore Wire Corp.		8,758		429,492
Harbinger Group, Inc. (a)		35,198		447,015
Insteel Industries, Inc.		7,790		153,074
Koppers Holdings, Inc.		8,727		333,808
NL Industries, Inc.		2,756		25,603
Tredegar Corp.		10,575		247,561
				4,856,479
Diversified Media — 0.0%
EW Scripps Co. (a)		13,227		279,883
Hemisphere Media Group, Inc. (a)		3,703		46,510
				326,393
Diversified Retail — 0.3%
The Bon-Ton Stores, Inc. (b)		6,362		65,592
Fred’s, Inc., Class A		15,623		238,876
Gaiam, Inc., Class A (a)		6,086		46,741
HSN, Inc.		14,046		832,085
Overstock.com, Inc. (a)		4,912		77,462
Pricesmart, Inc.		7,899		687,529
Tuesday Morning Corp. (a)		18,391		327,728
Valuevision Media, Inc., Class A (a)		18,098		90,309
Winmark Corp.		988		68,794
				2,435,116
Drug & Grocery Store Chains — 0.4%
Casey’s General Stores, Inc.		16,293		1,145,235
Ingles Markets, Inc., Class A		5,513		145,267

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 39

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Drug & Grocery Store Chains (concluded)
The Pantry, Inc. (a)		9,933	$	160,915
PetMed Express, Inc.		8,583		115,699
Supervalu, Inc. (a)		86,135		708,030
Susser Holdings Corp. (a)		7,815		630,827
Village Super Market, Inc., Class A		2,748		64,935
Weis Markets, Inc.		4,629		211,684
				3,182,592
Education Services — 0.6%
2U, Inc. (a)		4,379		73,611
American Public Education, Inc. (a)		7,462		256,544
Bridgepoint Education, Inc. (a)		7,101		94,301
Bright Horizons Family Solutions, Inc. (a)		12,993		557,919
Capella Education Co.		4,661		253,512
Career Education Corp. (a)		28,369		132,767
Chegg, Inc. (a)		31,077		218,782
Education Management Corp. (a)(b)		8,426		14,240
Franklin Covey Co. (a)		4,655		93,705
Grand Canyon Education, Inc. (a)		19,765		908,597
HealthStream, Inc. (a)		9,031		219,453
Houghton Mifflin Harcourt Co. (a)		46,182		884,847
ITT Educational Services, Inc. (a)		10,154		169,470
K12, Inc. (a)		14,660		352,866
Rosetta Stone, Inc. (a)		9,079		88,248
Strayer Education, Inc. (a)		4,635		243,384
Universal Technical Institute, Inc.		9,176		111,397
				4,673,643
Electronic Components — 0.7%
Acacia Research Corp.		21,249		377,170
Checkpoint Systems, Inc. (a)		17,710		247,763
InvenSense, Inc. (a)(b)		30,176		684,693
Kemet Corp. (a)		19,035		109,451
Methode Electronics, Inc.		16,045		613,080
Multi-Fineline Electronix, Inc. (a)		3,703		40,881
NVE Corp. (a)		2,059		114,460
Park Electrochemical Corp.		8,834		249,207
Rogers Corp. (a)		7,664		508,506
Sanmina Corp. (a)		34,832		793,473
ScanSource, Inc. (a)		12,048		458,788
Sparton Corp. (a)		4,276		118,616
Speed Commerce, Inc. (a)		20,346		76,094
TTM Technologies, Inc. (a)		23,002		188,616
Universal Display Corp. (a)		17,206		552,313
Viasystems Group, Inc. (a)		2,203		23,991
				5,157,102
Electronic Entertainment — 0.2%
DTS, Inc. (a)		7,184		132,257
Glu Mobile, Inc. (a)		38,206		191,030
Take-Two Interactive Software, Inc. (a)		42,004		934,169
				1,257,456
Electronics — 0.4%
Agilysys, Inc. (a)		6,154		86,648
American Science & Engineering, Inc.		3,307		230,134
Coherent, Inc. (a)		10,550		698,094
Control4 Corp. (a)		4,888		95,609
CUI Global, Inc. (a)		8,674		72,862
Daktronics, Inc.		16,332		194,677
II-VI, Inc. (a)		22,354		323,239
iRobot Corp. (a)(b)		12,518		512,612
Newport Corp. (a)		16,873		312,151
Rofin-Sinar Technologies, Inc. (a)		11,923		286,629
				2,812,655
Common Stocks	Shares		Value
Energy Equipment — 0.5%
C&J Energy Services, Inc. (a)		19,491	$	658,406
Capstone Turbine Corp. (a)(b)		140,200		211,702
Dynegy, Inc. (a)		42,473		1,478,060
Enphase Energy, Inc. (a)(b)		7,843		67,058
FuelCell Energy, Inc. (a)(b)		93,910		225,384
Matador Resources Co. (a)		31,013		908,061
PowerSecure International, Inc. (a)		9,696		94,439
Silver Spring Networks, Inc. (a)		15,062		200,776
				3,843,886
Energy Equipment & Services — 0.1%
CHC Group, Ltd. (a)		14,167		119,569
Geospace Technologies Corp. (a)		5,595		308,173
Pioneer Energy Services Corp. (a)		26,551		465,705
				893,447
Engineering & Contracting Services — 0.5%
Argan, Inc.		5,363		199,986
Dycom Industries, Inc. (a)		14,477		453,275
Engility Holdings, Inc. (a)		7,393		282,856
Exponent, Inc.		5,629		417,165
Furmanite Corp. (a)		16,139		187,858
Layne Christensen Co. (a)		8,434		112,172
MasTec, Inc. (a)		26,403		813,741
Mistras Group, Inc. (a)		7,108		174,288
MYR Group, Inc. (a)		9,163		232,099
Power Solutions International, Inc. (a)		1,886		135,735
Tetra Tech, Inc.		27,621		759,578
VSE Corp.		1,799		126,506
				3,895,259
Entertainment — 0.2%
AMC Entertainment Holdings, Inc., Class A		8,892		221,144
Ascent Capital Group, Inc., Class A (a)		5,882		388,271
Carmike Cinemas, Inc. (a)		9,737		342,061
Reading International, Inc., Class A (a)		7,193		61,356
Rentrak Corp. (a)		4,197		220,133
World Wrestling Entertainment, Inc.		12,769		152,334
				1,385,299
Environmental, Maintenance, & Security Service — 0.5%
ABM Industries, Inc.		23,656		638,239
The Brink’s Co.		20,575		580,627
G&K Services, Inc., Class A		8,440		439,471
Healthcare Services Group, Inc.		29,685		873,926
MSA Safety, Inc.		12,504		718,730
SP Plus Corp. (a)		6,513		139,313
UniFirst Corp.		6,256		663,136
				4,053,442
Fertilizers — 0.1%
Intrepid Potash, Inc. (a)		23,779		398,536
Rentech, Inc. (a)		83,520		216,317
				614,853
Financial Data & Systems — 0.8%
Advent Software, Inc.		21,814		710,482
Cardtronics, Inc. (a)		18,948		645,748
Cass Information Systems, Inc.		4,931		243,986
Consumer Portfolio Services, Inc. (a)		8,950		68,199
Euronet Worldwide, Inc. (a)		21,663		1,045,023
EVERTEC, Inc.		27,796		673,775
Fair Isaac Corp.		14,608		931,406
Global Cash Access Holdings, Inc. (a)		28,092		250,019
Green Dot Corp., Class A (a)		13,287		252,187
Heartland Payment Systems, Inc.		15,299		630,472
Higher One Holdings, Inc. (a)		14,986		57,097
Xoom Corp. (a)		13,124		345,948
				5,854,342

See Notes to Financial Statements.

40 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Food & Staples Retailing — 0.0%
Fairway Group Holdings Corp. (a)(b)		7,928	$	52,721
Natural Grocers by Vitamin Cottage, Inc. (a)		3,959		84,762
				137,483
Foods — 1.4%
Annie’s, Inc. (a)		7,266		245,736
B&G Foods, Inc.		22,698		741,998
Boulder Brands, Inc. (a)		25,859		366,681
The Chefs’ Warehouse, Inc. (a)		7,758		153,376
Chiquita Brands International, Inc. (a)		19,925		216,186
Dean Foods Co.		39,754		699,273
Diamond Foods, Inc. (a)		9,152		258,086
The Fresh Market, Inc. (a)		18,229		610,125
Inventure Foods, Inc. (a)		6,451		72,703
J&J Snack Foods Corp.		6,295		592,485
John B Sanfilippo & Son, Inc.		3,449		91,295
Lancaster Colony Corp.		7,840		746,054
Lifeway Foods, Inc. (a)		2,015		28,170
Medifast, Inc. (a)		5,610		170,600
Nature’s Sunshine Products, Inc.		4,650		78,910
Nutraceutical International Corp. (a)		3,665		87,447
Omega Protein Corp. (a)		8,942		122,327
Post Holdings, Inc. (a)		18,638		948,861
Roundy’s, Inc.		16,769		92,397
Seneca Foods Corp., Class A (a)		3,438		105,203
Senomyx, Inc. (a)		17,961		155,363
Snyders-Lance, Inc.		20,174		533,804
SpartanNash Co.		15,980		335,740
Synutra International, Inc. (a)		7,657		51,378
Tootsie Roll Industries, Inc.		8,033		236,491
TreeHouse Foods, Inc. (a)		15,573		1,246,930
United Natural Foods, Inc. (a)		21,005		1,367,425
				10,355,044
Forest Products — 0.2%
Boise Cascade Co. (a)		16,863		482,956
Deltic Timber Corp.		4,788		289,291
Universal Forest Products, Inc.		8,581		414,205
				1,186,452
Forms & Bulk Printing Services — 0.3%
Deluxe Corp.		21,216		1,242,833
Ennis, Inc.		11,060		168,776
InnerWorkings, Inc. (a)		15,041		127,848
Multi-Color Corp.		5,267		210,733
Quad/Graphics, Inc.		11,660		260,834
Schawk, Inc.		5,117		104,182
				2,115,206
Funeral Parlors & Cemeteries — 0.2%
Carriage Services, Inc.		6,814		116,724
Hillenbrand, Inc.		26,611		868,051
Matthews International Corp., Class A		11,596		482,045
				1,466,820
Gas Pipeline — 0.2%
SemGroup Corp., Class A		18,047		1,423,006
Glass — 0.1%
Apogee Enterprises, Inc.		12,419		432,926
Gold — 0.1%
Allied Nevada Gold Corp. (a)(b)		44,377		166,858
Coeur Mining, Inc. (a)		43,816		402,231
Gold Resource Corp.		15,972		80,818
				649,907
Health Care Equipment & Supplies — 0.0%
Inogen, Inc. (a)		2,160		48,730
Common Stocks	Shares		Value
Health Care Facilities — 0.7%
Amsurg Corp. (a)		13,789	$	628,365
Capital Senior Living Corp. (a)		12,333		294,019
Emeritus Corp. (a)		15,917		503,773
The Ensign Group, Inc.		8,468		263,185
Five Star Quality Care, Inc. (a)		18,402		92,194
Hanger, Inc. (a)		14,953		470,272
HealthSouth Corp.		37,334		1,339,171
Kindred Healthcare, Inc.		23,200		535,920
National Healthcare Corp.		4,356		245,199
Select Medical Holdings Corp.		33,339		520,088
Skilled Healthcare Group, Inc., Class A (a)		9,934		62,485
Surgical Care Affiliates, Inc. (a)		5,314		154,531
US Physical Therapy, Inc.		5,196		177,651
				5,286,853
Health Care Management Services — 0.5%
BioScrip, Inc. (a)		29,145		243,069
Computer Programs & Systems, Inc.		4,716		299,938
Magellan Health Services, Inc. (a)		11,661		725,781
Molina Healthcare, Inc. (a)		12,820		572,157
Triple-S Management Corp. (a)		10,580		189,699
Universal American Corp.		17,436		145,242
WellCare Health Plans, Inc. (a)		18,590		1,387,929
				3,563,815
Health Care Services — 1.7%
Acadia Healthcare Co., Inc. (a)		15,389		700,199
Accelerate Diagnostics, Inc. (a)		9,586		249,236
Addus HomeCare Corp. (a)		2,671		60,044
Air Methods Corp. (a)		16,604		857,597
Alliance HealthCare Services, Inc. (a)		2,126		57,402
Almost Family, Inc. (a)		3,622		79,974
Amedisys, Inc. (a)		11,558		193,481
AMN Healthcare Services, Inc. (a)		19,840		244,032
Cara Therapeutics, Inc. (a)		2,256		38,397
Care.com, Inc. (a)		2,860		36,208
Chemed Corp.		7,441		697,370
Chindex International, Inc. (a)		5,856		138,729
Corvel Corp. (a)		4,681		211,488
Cross Country Healthcare, Inc. (a)		13,310		86,781
ExamWorks Group, Inc. (a)		14,718		467,002
Flexion Therapeutics, Inc. (a)		1,904		25,666
Gentiva Health Services, Inc. (a)		13,359		201,187
Globus Medical, Inc., Class A (a)		27,814		665,311
Healthways, Inc. (a)		13,334		233,878
HMS Holdings Corp. (a)		37,384		763,007
IPC The Hospitalist Co., Inc. (a)		7,296		322,629
LHC Group, Inc. (a)		5,297		113,197
Medidata Solutions, Inc. (a)		22,929		981,590
MiMedx Group, Inc. (a)(b)		39,430		279,559
MWI Veterinary Supply, Inc. (a)		5,445		773,136
Omnicell, Inc. (a)		15,457		443,770
OvaScience, Inc. (a)		6,485		59,467
PharMerica Corp. (a)		12,725		363,808
Phibro Animal Health Corp. (a)		6,203		136,156
Quality Systems, Inc.		21,168		339,746
Ryman Hospitality Properties		18,439		887,838
Team Health Holdings, Inc. (a)		29,862		1,491,308
Tetraphase Pharmaceuticals, Inc. (a)		9,263		124,958
WebMD Health Corp. (a)		16,399		792,072
				13,116,223
Health Care: Miscellaneous — 0.1%
MedAssets, Inc. (a)		26,006		593,977
The Providence Service Corp. (a)		4,878		178,486
				772,463

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 41

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Home Building — 0.6%
Beazer Homes USA, Inc. (a)		11,435	$	239,906
Hovnanian Enterprises, Inc., Class A (a)		49,994		257,469
Installed Building Products, Inc. (a)		3,622		44,370
KB Home		35,740		667,623
LGI Homes, Inc. (a)		6,063		110,650
M/I Homes, Inc. (a)		10,457		253,791
MDC Holdings, Inc.		16,691		505,570
Meritage Homes Corp. (a)		16,690		704,485
The New Home Co., Inc. (a)		3,500		49,455
The Ryland Group, Inc.		20,006		789,037
Standard Pacific Corp. (a)		61,871		532,091
Tile Shop Holdings, Inc. (a)(b)		12,080		184,703
TRI Pointe Homes, Inc. (a)(b)		7,272		114,316
UCP, Inc., Class A (a)		3,443		47,066
WCI Communities, Inc. (a)		4,900		94,619
William Lyon Homes, Class A (a)		7,532		229,274
				4,824,425
Hotel/Motel — 0.3%
Belmond Ltd., Class A (a)		41,002		596,169
Bloomin’ Brands, Inc. (a)		32,764		734,897
Intrawest Resorts Holdings, Inc. (a)		5,704		65,368
La Quinta Holdings, Inc. (a)		18,810		360,023
The Marcus Corp.		7,613		138,937
Morgans Hotel Group Co. (a)		12,296		97,507
				1,992,901
Household Appliances — 0.0%
National Presto Industries, Inc. (b)		2,027		147,647
Household Equipment & Products — 0.2%
Central Garden and Pet Co., Class A (a)		18,396		169,243
CSS Industries, Inc.		3,962		104,478
Helen of Troy Ltd. (a)		12,119		734,775
Libbey, Inc. (a)		9,100		242,424
Sears Hometown and Outlet Stores, Inc. (a)		4,912		105,461
				1,356,381
Household Furnishings — 0.2%
American Woodmark Corp. (a)		5,286		168,465
Ethan Allen Interiors, Inc.		10,764		266,301
Flexsteel Industries, Inc.		2,020		67,367
Kirkland’s, Inc. (a)		6,313		117,106
La-Z-Boy, Inc.		22,180		513,911
Lifetime Brands, Inc.		4,317		67,863
Norcraft Cos., Inc. (a)		3,247		46,465
Select Comfort Corp. (a)		23,055		476,316
				1,723,794
Insurance: Life — 0.7%
American Equity Investment Life Holding Co.		31,547		776,056
Citizens, Inc. (a)(b)		18,856		139,534
CNO Financial Group, Inc.		92,345		1,643,741
FBL Financial Group, Inc., Class A		4,102		188,692
Fidelity & Guaranty Life		4,899		117,282
Independence Holding Co.		3,266		46,149
Kansas City Life Insurance Co.		1,569		71,358
National Western Life Insurance Co., Class A		935		233,198
The Phoenix Cos., Inc. (a)		2,386		115,459
Primerica, Inc.		23,158		1,108,110
Symetra Financial Corp.		31,912		725,679
Third Point Reinsurance Ltd. (a)		24,114		367,980
				5,533,238
Insurance: Multi-Line — 0.4%
Atlas Financial Holdings, Inc. (a)		4,790		72,616
Crawford & Co., Class B		11,809		119,035
eHealth, Inc. (a)		8,071		306,456
Horace Mann Educators Corp.		17,256		539,595
Common Stocks	Shares		Value
Insurance: Multi-Line (concluded)
Kemper Corp.		19,695	$	725,958
Maiden Holdings Ltd.		21,144		255,631
PICO Holdings, Inc. (a)		9,657		229,450
Platinum Underwriters Holdings Ltd.		11,424		740,846
				2,989,587
Insurance: Property-Casualty — 1.5%
Amerisafe, Inc.		7,934		322,676
Amtrust Financial Services, Inc. (b)		12,733		532,367
Argo Group International Holdings Ltd.		11,055		565,021
Baldwin & Lyons, Inc., Class B		3,868		100,336
Donegal Group, Inc., Class A		3,240		49,572
EMC Insurance Group, Inc.		1,989		61,221
Employers Holdings, Inc.		13,415		284,130
Enstar Group Ltd. (a)		3,642		548,959
Essent Group Ltd. (a)		17,695		355,493
Federated National Holding Co.		4,717		120,284
First American Financial Corp.		45,272		1,258,109
Global Indemnity PLC (a)		3,400		88,366
Greenlight Capital Re Ltd. (a)		12,020		395,939
Hallmark Financial Services, Inc. (a)		5,991		64,403
HCI Group, Inc.		3,864		156,878
Heritage Insurance Holdings, Inc. (a)		2,803		42,634
Hilltop Holdings, Inc. (a)		28,723		610,651
Infinity Property & Casualty Corp.		4,850		326,065
Meadowbrook Insurance Group, Inc.		21,238		152,701
Montpelier Re Holdings Ltd.		16,598		530,306
National General Holdings Corp.		15,411		268,151
National Interstate Corp.		2,996		83,948
The Navigators Group, Inc. (a)		4,439		297,635
NMI Holdings, Inc., Class A (a)		21,495		225,697
OneBeacon Insurance Group Ltd.		9,431		146,558
Radian Group, Inc.		81,029		1,200,039
RLI Corp.		18,224		834,295
Safety Insurance Group, Inc.		5,448		279,918
Selective Insurance Group, Inc.		23,843		589,399
State Auto Financial Corp.		6,426		150,561
Stewart Information Services Corp.		9,122		282,873
United Fire Group, Inc.		8,737		256,169
United Insurance Holdings Corp.		6,917		119,387
Universal Insurance Holdings, Inc.		13,416		174,006
				11,474,747
International Trade & Diversified Logistic — 0.0%
Global Sources Ltd. (a)		7,656		63,392
Internet & Catalog Retail — 0.0%
Vitacost.com, Inc. (a)		9,439		59,088
Internet Software & Services — 0.2%
Amber Road, Inc. (a)		3,764		60,713
Borderfree, Inc. (a)		2,515		41,674
ChannelAdvisor Corp. (a)		8,787		231,625
Cinedigm Corp. (a)		32,392		80,656
Coupons.com, Inc. (a)		5,105		134,312
E2open, Inc. (a)		9,995		206,597
Everyday Health, Inc. (a)		3,231		59,709
Global Eagle Entertainment, Inc. (a)		16,167		200,471
Gogo, Inc. (a)(b)		23,700		463,572
GrubHub, Inc. (a)		3,765		133,319
OPOWER, Inc. (a)		3,303		62,261
TrueCar, Inc. (a)		3,345		49,439
Zendesk, Inc. (a)		4,912		85,371
				1,809,719
Leisure Time — 1.0%
Black Diamond, Inc. (a)		9,581		107,499
Callaway Golf Co.		32,951		274,152
Churchill Downs, Inc.		5,663		510,293

See Notes to Financial Statements.

42 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Leisure Time (concluded)
ClubCorp Holdings, Inc.		9,257	$	171,625
Escalade, Inc.		4,011		64,738
International Speedway Corp., Class A		11,783		392,138
Interval Leisure Group, Inc.		16,883		370,413
Johnson Outdoors, Inc.		2,069		53,380
Life Time Fitness, Inc. (a)		17,346		845,444
Marriott Vacations Worldwide Corp. (a)		11,963		701,391
Nautilus, Inc. (a)		13,307		147,575
Orbitz Worldwide, Inc. (a)		21,851		194,474
Pool Corp.		19,082		1,079,278
SFX Entertainment, Inc. (a)		18,652		151,081
Smith & Wesson Holding Corp. (a)(b)		23,324		339,131
Speedway Motorsports, Inc.		4,806		87,709
Sturm Ruger & Co., Inc.		8,225		485,357
Vail Resorts, Inc.		15,303		1,181,085
West Marine, Inc. (a)		7,388		75,801
				7,232,564
Luxury Items — 0.0%
Movado Group, Inc.		7,777		324,068
Machinery: Agricultural — 0.1%
Alamo Group, Inc.		3,014		163,027
Lindsay Corp. (b)		5,467		461,798
Titan International, Inc.		18,801		316,233
Titan Machinery, Inc. (a)		7,305		120,240
				1,061,298
Machinery: Construction & Handling — 0.1%
Astec Industries, Inc.		8,009		351,435
Douglas Dynamics, Inc.		9,398		165,593
NACCO Industries, Inc., Class A		2,039		103,173
				620,201
Machinery: Engines — 0.1%
Briggs & Stratton Corp.		19,852		406,172
Machinery: Industrial — 1.3%
Actuant Corp., Class A		30,149		1,042,251
Altra Industrial Motion Corp.		11,489		418,085
Applied Industrial Technologies, Inc.		17,716		898,733
Chart Industries, Inc. (a)		12,941		1,070,738
Columbus McKinnon Corp.		8,440		228,302
DXP Enterprises, Inc. (a)		5,492		414,866
EnPro Industries, Inc. (a)		9,618		703,653
The ExOne Co. (a)(b)		4,219		167,157
Graham Corp.		4,310		150,031
Hyster-Yale Materials Handling, Inc.		4,351		385,237
Intevac, Inc. (a)		9,738		78,001
John Bean Technologies Corp.		12,371		383,377
Kadant, Inc.		4,744		182,407
Manitex International, Inc. (a)		5,862		95,199
MTS Systems Corp.		6,398		433,528
Omega Flex, Inc.		1,265		24,819
Proto Labs, Inc. (a)		9,587		785,367
Tennant Co.		7,799		595,220
Twin Disc, Inc.		3,512		116,072
Woodward, Inc.		28,088		1,409,456
				9,582,499
Machinery: Specialty — 0.1%
Albany International Corp., Class A		11,873		450,699
Hurco Cos., Inc.		2,771		78,142
Xerium Technologies, Inc. (a)		4,605		64,286
				593,127
Manufactured Housing — 0.0%
Cavco Industries, Inc. (a)		3,767		321,325
Common Stocks	Shares		Value
Medical & Dental Instruments & Supplies — 1.8%
ABIOMED, Inc. (a)		16,941	$	425,897
AngioDynamics, Inc. (a)		10,423		170,208
Anika Therapeutics, Inc. (a)		6,094		282,335
Antares Pharma, Inc. (a)		50,129		133,844
AtriCure, Inc. (a)		11,552		212,326
Atrion Corp.		644		209,944
Cantel Medical Corp.		14,303		523,776
Cardiovascular Systems, Inc. (a)		11,695		364,416
Cerus Corp. (a)		30,890		128,193
CONMED Corp.		11,507		508,034
CryoLife, Inc.		11,810		105,700
Derma Sciences, Inc. (a)		9,527		110,132
Endologix, Inc. (a)		27,163		413,149
Exactech, Inc. (a)		4,094		103,292
HeartWare International, Inc. (a)		7,176		635,076
ICU Medical, Inc. (a)		5,697		346,435
Insulet Corp. (a)		23,461		930,698
Integra LifeSciences Holdings Corp. (a)		10,556		496,765
Invacare Corp.		13,570		249,281
K2M Group Holdings, Inc. (a)		3,703		55,101
Landauer, Inc.		4,033		169,386
LDR Holding Corp. (a)		7,014		175,420
Meridian Bioscience, Inc.		17,644		364,172
Merit Medical Systems, Inc. (a)		18,195		274,744
NanoString Technologies, Inc. (a)		4,272		63,866
Navidea Biopharmaceuticals, Inc. (a)(b)		65,123		96,382
Neogen Corp. (a)		15,545		629,106
NuVasive, Inc. (a)		19,733		701,903
OraSure Technologies, Inc. (a)		23,675		203,842
Orthofix International NV (a)		7,803		282,859
Owens & Minor, Inc.		26,664		906,043
Quidel Corp. (a)		12,102		267,575
Staar Surgical Co. (a)		16,220		272,496
STERIS Corp.		25,033		1,338,765
SurModics, Inc. (a)		5,832		124,921
Tornier NV (a)		15,037		351,565
TransEnterix, Inc. (a)		12,199		61,483
TriVascular Technologies, Inc. (a)		3,156		49,139
Unilife Corp. (a)(b)		43,780		129,589
Utah Medical Products, Inc.		1,569		80,709
Vascular Solutions, Inc. (a)		7,229		160,412
Volcano Corp. (a)		21,727		382,612
				13,491,591
Medical Equipment — 1.1%
Abaxis, Inc.		9,537		422,584
Accuray, Inc. (a)		32,477		285,798
Affymetrix, Inc. (a)		30,781		274,259
Analogic Corp.		5,266		412,012
Cyberonics, Inc. (a)		11,352		709,046
Cynosure, Inc., Class A (a)		9,482		201,492
DexCom, Inc. (a)		31,711		1,257,658
Fluidigm Corp. (a)		11,891		349,595
Greatbatch, Inc. (a)		10,518		516,013
Haemonetics Corp. (a)		22,106		779,900
Luminex Corp. (a)		15,937		273,320
Masimo Corp. (a)		20,536		484,650
Merge Healthcare, Inc. (a)		29,952		67,991
Natus Medical, Inc. (a)		13,612		342,206
NxStage Medical, Inc. (a)		26,043		374,238
Oxford Immunotec Global PLC (a)		5,470		92,060
Spectranetics Corp. (a)		17,631		403,397
Tandem Diabetes Care, Inc. (a)		3,480		56,585
Thoratec Corp. (a)		24,090		839,777
Zeltiq Aesthetics, Inc. (a)		12,269		186,366
				8,328,947

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 43

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Medical Services — 0.2%
Bio-Reference Laboratories, Inc. (a)		10,460	$	316,101
PAREXEL International Corp. (a)		24,152		1,276,192
				1,592,293
Metal Fabricating — 0.7%
Ampco-Pittsburgh Corp.		3,496		80,198
Dynamic Materials Corp.		5,908		130,744
Global Brass & Copper Holdings, Inc.		8,940		151,086
Haynes International, Inc.		5,251		297,154
LB Foster Co., Class A		4,412		238,778
Mueller Industries, Inc.		24,032		706,781
Mueller Water Products, Inc., Series A		67,665		584,626
NN, Inc.		7,505		191,978
Northwest Pipe Co. (a)		4,010		161,723
RBC Bearings, Inc.		9,848		630,764
Rexnord Corp. (a)		31,871		897,169
RTI International Metals, Inc. (a)		13,036		346,627
Worthington Industries, Inc.		21,827		939,434
				5,357,062
Metals & Minerals: Diversified — 0.8%
Alpha Natural Resources, Inc. (a)(b)		94,015		348,796
Commercial Metals Co.		49,906		863,873
Globe Specialty Metals, Inc.		27,025		561,579
Hecla Mining Co.		145,497		501,965
Materion Corp.		8,742		323,366
Minerals Technologies, Inc.		14,596		957,206
Molycorp, Inc. (a)(b)		77,547		199,296
Oil-Dri Corp. of America		2,042		62,424
Ring Energy, Inc. (a)		7,880		137,506
SunCoke Energy, Inc. (a)		29,598		636,357
United States Lime & Minerals, Inc.		824		53,395
US Silica Holdings, Inc.		22,784		1,263,145
				5,908,908
Office Supplies & Equipment — 0.6%
ACCO Brands Corp. (a)		48,503		310,904
Eastman Kodak Co. (a)		7,665		187,563
Electronics for Imaging, Inc. (a)		19,719		891,299
Herman Miller, Inc.		25,095		758,873
HNI Corp.		19,126		748,018
Kimball International, Inc., Class B		14,477		242,055
Knoll, Inc.		20,531		355,802
Steelcase, Inc., Class A		34,994		529,459
United Stationers, Inc.		16,746		694,457
				4,718,430
Offshore Drilling & Other Services — 0.1%
Hercules Offshore, Inc. (a)		68,291		274,530
North Atlantic Drilling, Ltd.		30,341		322,222
Vantage Drilling Co. (a)		86,909		166,865
				763,617
Oil Well Equipment & Services — 1.4%
Basic Energy Services, Inc. (a)		13,477		393,798
Dawson Geophysical Co.		3,441		98,585
Exterran Holdings, Inc.		24,801		1,115,797
Flotek Industries, Inc. (a)		22,778		732,540
Forum Energy Technologies, Inc. (a)		25,237		919,384
Glori Energy, Inc. (a)		5,086		55,234
Gulf Island Fabrication, Inc.		6,140		132,133
Helix Energy Solutions Group, Inc. (a)		44,735		1,176,978
Hornbeck Offshore Services, Inc. (a)		15,404		722,756
ION Geophysical Corp. (a)		54,962		231,940
Key Energy Services, Inc. (a)		55,763		509,674
Matrix Service Co. (a)		11,259		369,182
McDermott International, Inc. (a)		100,773		815,253
Mitcham Industries, Inc. (a)		5,440		76,051
Common Stocks	Shares		Value
Oil Well Equipment & Services (concluded)
Natural Gas Services Group, Inc. (a)		5,262	$	173,962
Newpark Resources, Inc. (a)		36,002		448,585
Nuverra Environmental Solutions, Inc. (a)(b)		6,439		129,488
Parker Drilling Co. (a)		51,419		335,252
Profire Energy, Inc. (a)		5,400		24,354
RigNet, Inc. (a)		5,009		269,584
SEACOR Holdings, Inc. (a)		8,724		717,549
Tesco Corp.		14,677		313,207
TETRA Technologies, Inc. (a)		33,529		394,972
Willbros Group, Inc. (a)		16,971		209,592
				10,365,850
Oil, Gas & Consumable Fuels — 0.5%
Ardmore Shipping Corp.		7,613		105,288
CARBO Ceramics, Inc.		8,350		1,286,902
DHT Holdings, Inc.		29,355		211,356
Dorian LPG, Ltd. (a)		3,178		73,062
Emerald Oil, Inc. (a)(b)		24,237		185,413
Equal Energy Ltd.		15,291		82,877
EXCO Resources, Inc.		64,677		380,947
Gastar Exploration, Inc. (a)		23,344		203,326
Gulf Coast Ultra Deep Royalty Trust (a)		3		9
Navios Maritime Acq Corp.		34,265		127,123
Pacific Ethanol, Inc. (a)		8,770		134,093
Parsley Energy, Inc., Class A (a)		21,196		510,188
Plug Power, Inc. (a)		70,773		331,218
RSP Permian, Inc. (a)		9,284		301,173
TransAtlantic Petroleum, Ltd. (a)		9,425		107,351
				4,040,326
Oil: Crude Producers — 2.7%
Abraxas Petroleum Corp. (a)		34,933		218,681
American Eagle Energy Corp. (a)		12,925		77,421
Apco Oil and Gas International, Inc. (a)		3,769		54,387
Approach Resources, Inc. (a)		16,760		380,955
Bill Barrett Corp. (a)		21,078		564,469
Bonanza Creek Energy, Inc. (a)		13,912		795,627
BPZ Resources, Inc. (a)		50,069		154,212
Callon Petroleum Co. (a)		17,071		198,877
Carrizo Oil & Gas, Inc. (a)		19,257		1,333,740
Clayton Williams Energy, Inc. (a)		2,490		342,051
Comstock Resources, Inc.		20,283		584,962
Contango Oil & Gas Co. (a)		7,377		312,121
Diamondback Energy, Inc. (a)		16,102		1,429,858
Energy XXI Bermuda Ltd.		39,727		938,749
Evolution Petroleum Corp.		8,336		91,279
Forest Oil Corp. (a)		51,267		116,889
FX Energy, Inc. (a)		23,100		83,391
Goodrich Petroleum Corp. (a)(b)		14,745		406,962
Halcon Resources Corp. (a)(b)		110,334		804,335
Harvest Natural Resources, Inc. (a)		17,731		88,478
Isramco, Inc. (a)(b)		375		47,670
Jones Energy, Inc., Class A (a)		4,776		97,908
Kodiak Oil & Gas Corp. (a)		112,988		1,643,975
Magnum Hunter Resources Corp. (a)		84,104		689,653
Midstates Petroleum Co., Inc. (a)		15,661		113,229
Northern Oil and Gas, Inc. (a)		25,939		422,546
ONE Gas, Inc.		22,003		830,613
Panhandle Oil and Gas, Inc.		2,949		165,232
PDC Energy, Inc. (a)		15,157		957,165
Penn Virginia Corp. (a)		27,782		470,905
PetroQuest Energy, Inc. (a)		24,870		187,022
Quicksilver Resources, Inc. (a)(b)		53,958		144,068
Resolute Energy Corp. (a)		33,014		285,241
Rex Energy Corp. (a)		20,340		360,221
Rosetta Resources, Inc. (a)		26,041		1,428,349
Sanchez Energy Corp. (a)		19,338		726,915

See Notes to Financial Statements.

44 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Oil: Crude Producers (concluded)
Stone Energy Corp. (a)		23,798	$	1,113,508
Swift Energy Co. (a)		18,666		242,285
Synergy Resources Corp. (a)		28,129		372,709
Triangle Petroleum Corp. (a)		32,070		376,822
Vaalco Energy, Inc. (a)		21,324		154,173
W&T Offshore, Inc.		14,878		243,553
Warren Resources, Inc. (a)		31,258		193,800
				20,245,006
Oil: Refining & Marketing — 0.3%
Adams Resources & Energy, Inc.		902		70,473
Alon USA Energy, Inc.		11,113		138,246
Clean Energy Fuels Corp. (a)(b)		29,854		349,889
Delek US Holdings, Inc.		25,197		711,311
Miller Energy Resources, Inc. (a)(b)		12,729		81,466
Renewable Energy Group, Inc. (a)		14,915		171,075
Trecora Resources (a)		8,394		99,385
Vertex Energy, Inc. (a)		4,861		47,200
Western Refining, Inc.		22,580		847,879
				2,516,924
Paints & Coatings — 0.2%
Chase Corp.		2,831		96,650
Ferro Corp. (a)		30,442		382,352
HB Fuller Co.		21,225		1,020,922
Kronos Worldwide, Inc.		8,818		138,178
				1,638,102
Paper — 0.5%
Clearwater Paper Corp. (a)		8,714		537,828
KapStone Paper and Packaging Corp. (a)		35,917		1,189,930
Neenah Paper, Inc.		7,071		375,824
PH Glatfelter Co.		18,420		488,683
Resolute Forest Products (a)		27,649		463,950
Schweitzer-Mauduit International, Inc.		13,005		567,798
Wausau Paper Corp.		18,284		197,833
				3,821,846
Personal Care — 0.1%
The Female Health Co.		9,355		51,546
Orchids Paper Products Co.		3,407		109,160
PhotoMedex, Inc. (a)(b)		5,565		68,171
USANA Health Sciences, Inc. (a)		2,749		214,807
WD-40 Co.		6,329		476,068
				919,752
Pharmaceuticals — 2.1%
ACADIA Pharmaceuticals, Inc. (a)		33,374		753,919
AcelRx Pharmaceuticals, Inc. (a)(b)		10,583		108,476
Achaogen, Inc. (a)		2,870		40,065
Achillion Pharmaceuticals, Inc. (a)		41,132		311,369
Adamas Pharmaceuticals, Inc. (a)		1,173		21,442
Aerie Pharmaceuticals, Inc. (a)		4,426		109,632
Agios Pharmaceuticals, Inc. (a)		5,757		263,786
Akorn, Inc. (a)		26,367		876,703
Ampio Pharmaceuticals, Inc. (a)		17,373		145,065
Anacor Pharmaceuticals, Inc. (a)		13,936		247,085
Aratana Therapeutics, Inc. (a)		10,259		160,143
Auspex Pharmaceuticals, Inc. (a)		3,397		75,651
Auxilium Pharmaceuticals, Inc. (a)		21,305		427,378
AVANIR Pharmaceuticals, Inc. (a)		67,743		382,070
Biospecifics Technologies Corp. (a)		1,511		40,737
Cambrex Corp. (a)		12,998		269,059
Cempra, Inc. (a)		9,585		102,847
Chimerix, Inc. (a)		11,450		251,213
Corcept Therapeutics, Inc. (a)		22,722		63,622
Depomed, Inc. (a)		24,599		341,926
Dicerna Pharmaceuticals, Inc. (a)		1,444		32,591
Common Stocks	Shares		Value
Pharmaceuticals (concluded)
Egalet Corp. (a)		1,683	$	22,081
Enanta Pharmaceuticals, Inc. (a)		4,347		187,225
Endocyte, Inc. (a)(b)		15,905		104,814
Esperion Therapeutics, Inc. (a)(b)		1,838		29,114
Galectin Therapeutics, Inc. (a)		7,543		104,169
Impax Laboratories, Inc. (a)		29,668		889,743
Infinity Pharmaceuticals, Inc. (a)		20,632		262,852
Intra-Cellular Therapies, Inc. (a)		7,287		122,859
Ironwood Pharmaceuticals, Inc. (a)		50,659		776,602
Isis Pharmaceuticals, Inc. (a)		49,820		1,716,299
Lannett Co., Inc. (a)		10,887		540,213
The Medicines Co. (a)		27,577		801,388
Nanoviricides, Inc. (a)		16,944		71,165
NeoStem, Inc. (a)		10,036		65,435
Ohr Pharmaceutical, Inc. (a)		8,933		84,953
Pacira Pharmaceuticals, Inc. (a)		15,079		1,385,157
Pain Therapeutics, Inc. (a)		15,839		91,074
Pernix Therapeutics Holdings (a)		14,056		126,223
Portola Pharmaceuticals, Inc. (a)		15,540		453,457
Pozen, Inc. (a)		11,613		96,736
Prestige Brands Holdings, Inc. (a)		21,968		744,495
Receptos, Inc. (a)		6,530		278,178
Relypsa, Inc. (a)		7,173		174,447
Revance Therapeutics, Inc. (a)		2,931		99,654
Sagent Pharmaceuticals, Inc. (a)		9,298		240,446
Sciclone Pharmaceuticals, Inc. (a)		22,025		115,851
Spectrum Pharmaceuticals, Inc. (a)		27,829		226,250
Supernus Pharmaceuticals, Inc. (a)		12,362		135,364
T.G. Therapeutics, Inc. (a)		9,851		92,501
TherapeuticsMD, Inc. (a)(b)		42,661		188,562
Theravance Biopharma, Inc. (a)		9,959		317,493
Ultragenyx Pharmaceutical, Inc. (a)		2,816		126,410
Vivus, Inc. (a)(b)		38,325		203,889
XenoPort, Inc. (a)		24,365		117,683
Zogenix, Inc. (a)		51,853		104,225
				16,121,786
Plastics — 0.1%
A. Schulman, Inc.		12,334		477,326
Ply Gem Holdings, Inc. (a)		9,088		91,789
				569,115
Power Transmission Equipment — 0.3%
Advanced Energy Industries, Inc. (a)		17,443		335,778
Generac Holdings, Inc. (a)		29,155		1,421,015
Global Power Equipment Group, Inc.		7,215		116,594
Maxwell Technologies, Inc. (a)		12,691		192,015
Powell Industries, Inc.		3,913		255,832
Vicor Corp. (a)		6,984		58,526
				2,379,760
Precious Metals & Minerals — 0.2%
Horsehead Holding Corp. (a)		21,504		392,663
Stillwater Mining Co. (a)		50,795		891,452
				1,284,115
Printing & Copying Services — 0.1%
Casella Waste Systems, Inc. (a)		16,315		81,738
Cenveo, Inc. (a)		23,762		88,157
VistaPrint NV (a)		14,157		572,792
				742,687
Producer Durables: Miscellaneous — 0.1%
Blount International, Inc. (a)		21,101		297,735
Park-Ohio Holdings Corp.		3,716		215,937
				513,672

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 45

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Production Technology Equipment — 1.0%
Axcelis Technologies, Inc. (a)		46,799	$	93,598
Brooks Automation, Inc.		28,212		303,843
Cognex Corp. (a)		36,764		1,411,738
Cohu, Inc.		10,585		113,259
Electro Scientific Industries, Inc.		10,008		68,154
Entegris, Inc. (a)		58,962		810,433
FEI Co.		17,894		1,623,523
GSI Group, Inc. (a)		12,779		162,677
MKS Instruments, Inc.		22,654		707,711
Nanometrics, Inc. (a)		10,052		183,449
Photronics, Inc. (a)		25,999		223,591
Rudolph Technologies, Inc. (a)		14,075		139,061
Tessera Technologies, Inc.		22,608		499,185
Ultra Clean Holdings, Inc. (a)		12,655		114,528
Ultratech, Inc. (a)		11,929		264,585
Veeco Instruments, Inc. (a)		16,980		632,675
				7,352,010
Publishing — 0.6%
AH Belo Corp.		7,916		93,805
Daily Journal Corp. (a)		455		94,044
Dex Media, Inc. (a)(b)		6,326		70,472
Eros International PLC (a)		8,264		125,365
Journal Communications, Inc., Class A (a)		19,114		169,541
Lee Enterprises, Inc. (a)		22,243		98,981
Martha Stewart Living Omnimedia, Class A (a)		12,683		59,610
The McClatchy Co., Class A (a)		25,977		144,172
Media General, Inc., Class A (a)(b)		23,014		472,477
Meredith Corp.		15,229		736,475
New Media Investment Group, Inc. (a)		12,802		180,636
The New York Times Co., Class A		58,710		892,979
Scholastic Corp.		11,207		382,047
Time, Inc. (a)		46,710		1,131,316
				4,651,920
Radio & TV Broadcasters — 0.4%
Central European Media Enterprises Ltd. (a)		30,079		84,823
Crown Media Holdings, Inc., Class A (a)		14,850		53,905
Cumulus Media, Inc., Class A (a)		57,343		377,890
Entercom Communications Corp., Class A (a)		10,508		112,751
Entravision Communications Corp., Class A		24,517		152,496
Gray Television, Inc. (a)		21,027		276,085
Nexstar Broadcasting Group, Inc., Class A		12,971		669,433
Radio One, Inc., Class D (a)		9,662		47,634
Saga Communications, Inc., Class A		1,546		66,045
Salem Communications Corp., Class A		4,446		42,059
Sinclair Broadcast Group, Inc., Class A		29,103		1,011,329
				2,894,450
Railroad Equipment — 0.1%
American Railcar Industries, Inc.		4,018		272,300
FreightCar America, Inc.		5,118		128,155
The Greenbrier Cos., Inc. (a)(b)		11,700		673,920
				1,074,375
Real Estate — 0.3%
AV Homes, Inc. (a)		4,786		78,251
Consolidated-Tomoka Land Co.		1,841		84,502
Forestar Group, Inc. (a)		14,952		285,434
HFF, Inc., Class A		13,902		517,015
Kennedy-Wilson Holdings, Inc.		30,495		817,876
The St. Joe Co. (a)		16,367		416,213
Tejon Ranch Co. (a)		5,856		188,504
				2,387,795
Real Estate Investment Trusts (REITs) — 8.2%
Acadia Realty Trust		24,343		683,795
AG Mortgage Investment Trust, Inc.		11,890		225,078
Common Stocks	Shares		Value
Real Estate Investment Trusts (REITs) (continued)
Agree Realty Corp.		6,363	$	192,353
Alexander & Baldwin, Inc.		20,680		857,186
Alexander’s, Inc.		885		326,981
Altisource Residential Corp.		24,284		632,112
American Assets Trust, Inc.		15,003		518,354
American Capital Mortgage Investment Corp.		21,412		428,668
American Realty Capital Healthcare Trust, Inc.		71,826		782,185
American Residential Properties, Inc. (a)		13,640		255,750
AmREIT, Inc., Class B		8,370		153,171
Anworth Mortgage Asset Corp.		54,525		281,349
Apollo Commercial Real Estate Finance, Inc.		19,636		323,798
Ares Commercial Real Estate Corp.		12,108		150,260
Armada Hoffler Properties, Inc.		8,299		80,334
ARMOUR Residential REIT, Inc.		151,413		655,618
Ashford Hospitality Prime, Inc.		8,691		149,138
Ashford Hospitality Trust, Inc.		29,594		341,515
Associated Estates Realty Corp.		24,415		439,958
Aviv REIT, Inc.		8,244		232,233
Campus Crest Communities, Inc.		27,714		240,003
Capstead Mortgage Corp.		40,529		532,956
CareTrust REIT, Inc. (a)		8,992		178,042
Catchmark Timber Trust, Inc.		4,970		67,940
Cedar Realty Trust, Inc.		33,810		211,312
Chambers Street Properties		100,540		808,342
Chatham Lodging Trust		11,203		245,346
Chesapeake Lodging Trust		21,174		640,090
Colony Financial, Inc.		39,197		910,154
CorEnergy Infrastructure Trust, Inc.		13,163		97,538
Coresite Realty Corp.		9,026		298,490
Cousins Properties, Inc.		84,339		1,050,021
CubeSmart		61,165		1,120,543
CyrusOne, Inc.		8,359		208,139
CYS Investments, Inc.		68,951		621,938
DCT Industrial Trust, Inc.		140,006		1,149,449
DiamondRock Hospitality Co.		83,114		1,065,521
DuPont Fabros Technology, Inc.		27,079		730,050
Dynex Capital, Inc.		23,383		206,940
EastGroup Properties, Inc.		13,258		851,561
Education Realty Trust, Inc.		48,865		524,810
Empire State Realty Trust, Inc., Class A		39,051		644,341
EPR Properties		22,618		1,263,668
Equity One, Inc.		26,096		615,605
Excel Trust, Inc.		20,386		271,745
FelCor Lodging Trust, Inc.		52,708		553,961
First Industrial Realty Trust, Inc.		46,745		880,676
First Potomac Realty Trust		24,856		326,111
Franklin Street Properties Corp.		38,167		480,141
Geo Group, Inc.		30,722		1,097,697
Getty Realty Corp.		10,985		209,594
Gladstone Commercial Corp.		6,303		112,635
Glimcher Realty Trust		61,656		667,734
Government Properties Income Trust		23,117		586,941
Gramercy Property Trust, Inc.		50,014		302,585
Hatteras Financial Corp.		40,913		810,486
Healthcare Realty Trust, Inc.		40,711		1,034,874
Hersha Hospitality Trust (b)		85,328		572,551
Highwoods Properties, Inc.		38,214		1,603,077
Hudson Pacific Properties, Inc.		23,253		589,231
Inland Real Estate Corp.		37,167		395,085
Invesco Mortgage Capital, Inc.		52,185		905,932
Investors Real Estate Trust		45,200		416,292
iStar Financial, Inc. (a)		35,831		536,748
Kite Realty Group Trust		55,901		343,232
KYTHERA Biopharmaceuticals, Inc. (a)		7,353		282,135
LaSalle Hotel Properties		44,149		1,558,018
Lexington Realty Trust		87,325		961,448
LTC Properties, Inc.		14,762		576,308

See Notes to Financial Statements.

46 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Real Estate Investment Trusts (REITs) (concluded)
Mack-Cali Realty Corp.		37,653	$	808,786
Medical Properties Trust, Inc.		73,228		969,539
Monmouth Real Estate Investment Corp., Class A		23,633		237,275
National Health Investors, Inc.		13,985		874,902
New Residential Investment Corp.		120,278		757,751
New York Mortgage Trust, Inc.		38,453		300,318
New York REIT, Inc.		74,734		826,558
One Liberty Properties, Inc.		5,201		110,989
Owens Realty Mortgage, Inc. REIT		4,360		84,802
Parkway Properties, Inc.		30,182		623,258
Pebblebrook Hotel Trust		27,060		1,000,138
Pennsylvania Real Estate Investment Trust		29,191		549,375
PennyMac Mortgage Investment Trust (c)		31,456		690,145
Physicians Realty Trust		14,656		210,900
Potlatch Corp.		17,301		716,261
PS Business Parks, Inc.		8,242		688,125
QTS Realty Trust, Inc., Class A		5,141		147,187
RAIT Financial Trust		34,828		288,028
Ramco-Gershenson Properties Trust		28,787		478,440
Redwood Trust, Inc.		35,199		685,324
Resource Capital Corp.		54,789		308,462
Retail Opportunity Investments Corp.		31,852		501,032
Rexford Industrial Realty, Inc.		12,052		171,620
RLJ Lodging Trust		55,513		1,603,771
Rouse Properties, Inc.		15,908		272,186
Sabra Health Care REIT, Inc.		20,059		575,894
Saul Centers, Inc.		4,093		198,920
Select Income REIT		15,572		461,554
Silver Bay Realty Trust Corp.		14,202		231,777
Sovran Self Storage, Inc.		13,953		1,077,869
STAG Industrial, Inc.		21,883		525,411
Starwood Waypoint Residential Trust (a)		16,590		434,824
Strategic Hotels & Resorts, Inc. (a)		104,912		1,228,519
Summit Hotel Properties, Inc.		36,200		383,720
Sun Communities, Inc.		17,361		865,272
Sunstone Hotel Investors, Inc.		77,870		1,162,599
Terreno Realty Corp.		14,111		272,766
Trade Street Residential, Inc.		7,554		56,579
UMH Properties, Inc.		7,812		78,354
Universal Health Realty Income Trust		5,108		222,096
Urstadt Biddle Properties, Inc., Class A		10,578		220,869
Walter Investment Management Corp. (a)		16,023		477,165
Washington Real Estate Investment Trust		28,310		735,494
Western Asset Mortgage Capital Corp.		17,863		253,119
Whitestone REIT		9,334		139,170
Winthrop Realty Trust		15,391		236,252
				61,811,267
Recreational Vehicles & Boats — 0.4%
Arctic Cat, Inc.		5,496		216,652
Brunswick Corp.		39,323		1,656,678
Drew Industries, Inc.		10,027		501,450
Malibu Boats, Inc. (a)		3,037		61,044
Marine Products Corp.		4,468		37,085
Winnebago Industries, Inc. (a)		11,589		291,811
				2,764,720
Rental & Leasing Services: Consumer — 0.1%
Rent-A-Center, Inc.		22,418		642,948
Restaurants — 1.6%
Biglari Holdings, Inc. (a)		609		257,589
BJ’s Restaurants, Inc. (a)		10,063		351,299
Bob Evans Farms, Inc.		10,443		522,672
Bravo Brio Restaurant Group, Inc. (a)		8,134		126,972
Buffalo Wild Wings, Inc. (a)		8,002		1,326,012
Carrols Restaurant Group, Inc. (a)		14,620		104,094
The Cheesecake Factory, Inc.		21,150		981,783
Common Stocks	Shares		Value
Restaurants (concluded)
Cracker Barrel Old Country Store, Inc.		8,049	$	801,439
Denny’s Corp. (a)		37,073		241,716
Diamond Resorts International, Inc. (a)		15,017		349,446
DineEquity, Inc.		7,040		559,610
Einstein Noah Restaurant Group, Inc.		4,607		73,988
Ellie Mae, Inc. (a)		11,905		370,603
Famous Dave’s Of America, Inc. (a)		1,968		56,482
Fiesta Restaurant Group, Inc. (a)		11,357		527,078
Ignite Restaurant Group, Inc. (a)		3,176		46,243
Jack in the Box, Inc.		16,935		1,013,390
Jamba, Inc. (a)		7,433		89,939
Krispy Kreme Doughnuts, Inc. (a)		27,674		442,231
Nathan’s Famous, Inc. (a)		1,325		71,802
Noodles & Co. (a)(b)		4,652		159,982
Papa John’s International, Inc.		12,946		548,781
Papa Murphy’s Holdings, Inc. (a)		2,464		23,605
Popeyes Louisiana Kitchen, Inc. (a)		10,014		437,712
Potbelly Corp. (a)		6,252		99,782
Red Robin Gourmet Burgers, Inc. (a)		6,051		430,831
Ruby Tuesday, Inc. (a)		26,097		198,076
Ruth’s Hospitality Group, Inc.		15,275		188,646
Sonic Corp. (a)		23,038		508,679
Texas Roadhouse, Inc.		29,503		767,078
Zoe’s Kitchen, Inc. (a)		2,498		85,881
				11,763,441
Scientific Instruments: Control & Filter — 0.5%
Brady Corp., Class A		20,331		607,287
CIRCOR International, Inc.		7,482		577,087
Energy Recovery, Inc. (a)(b)		16,557		81,460
ESCO Technologies, Inc.		11,247		389,596
The Gorman-Rupp Co.		7,997		282,854
Sun Hydraulics Corp.		9,454		383,832
Thermon Group Holdings, Inc. (a)		13,509		355,557
Watts Water Technologies, Inc., Class A		12,081		745,760
				3,423,433
Scientific Instruments: Electrical — 0.6%
AZZ, Inc.		10,836		499,323
EnerSys, Inc.		19,891		1,368,302
Franklin Electric Co., Inc.		20,193		814,384
GrafTech International Ltd. (a)		49,868		521,619
Houston Wire & Cable Co.		7,506		93,150
Littelfuse, Inc.		9,516		884,512
Preformed Line Products Co.		1,128		60,720
Taser International, Inc. (a)		22,913		304,743
				4,546,753
Scientific Instruments: Gauges & Meters — 0.3%
Badger Meter, Inc.		6,137		323,113
FARO Technologies, Inc. (a)		7,309		359,018
Itron, Inc. (a)		16,652		675,238
Measurement Specialties, Inc. (a)		6,757		581,575
Mesa Laboratories, Inc.		1,156		97,058
Vishay Precision Group, Inc. (a)		5,334		87,798
				2,123,800
Scientific Instruments: Pollution Control — 0.3%
Ceco Environmental Corp.		8,902		138,782
Darling International, Inc. (a)		69,832		1,459,489
Heritage-Crystal Clean, Inc. (a)		3,911		76,773
Team, Inc. (a)		8,678		355,972
US Ecology, Inc.		9,133		447,060
				2,478,076
Securities Brokerage & Services — 0.3%
BGC Partners, Inc., Class A		73,670		548,105
FXCM, Inc.		19,349		289,461

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 47

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Securities Brokerage & Services (concluded)
Gain Capital Holdings, Inc.		9,767	$	76,866
GFI Group, Inc.		32,277		107,160
INTL. FCStone, Inc. (a)		6,377		127,030
Investment Technology Group, Inc. (a)		15,304		258,331
Ladenburg Thalmann Financial Services, Inc. (a)		41,865		131,875
MarketAxess Holdings, Inc.		15,959		862,744
SWS Group, Inc. (a)		12,308		89,602
				2,491,174
Semiconductors & Components — 2.8%
Aeroflex Holding Corp. (a)		8,439		88,610
Alpha & Omega Semiconductor Ltd. (a)		8,990		83,337
Amkor Technology, Inc. (a)		36,147		404,123
Applied Micro Circuits Corp. (a)		33,029		357,043
Audience, Inc. (a)		5,958		71,258
Cavium, Inc. (a)		22,374		1,111,093
Ceva, Inc. (a)		8,920		131,748
Cirrus Logic, Inc. (a)		26,313		598,358
Cypress Semiconductor Corp. (a)		66,862		729,464
Diodes, Inc. (a)		15,431		446,882
DSP Group, Inc. (a)		9,405		79,848
Entropic Communications, Inc. (a)		37,569		125,105
Exar Corp. (a)		16,717		188,902
Fairchild Semiconductor International, Inc. (a)		52,967		826,285
FormFactor, Inc. (a)		23,531		195,778
GT Advanced Technologies, Inc. (a)		57,777		1,074,652
Hittite Microwave Corp.		13,267		1,034,163
Inphi Corp. (a)		13,268		194,774
Integrated Device Technology, Inc. (a)		56,557		874,371
Integrated Silicon Solution, Inc. (a)		12,790		188,908
International Rectifier Corp. (a)		30,164		841,576
Intersil Corp., Class A		54,427		813,684
IXYS Corp.		10,355		127,574
Kopin Corp. (a)		27,880		90,889
Lattice Semiconductor Corp. (a)		49,882		411,527
M/A-COM Technology Solutions Holdings, Inc. (a)		5,052		113,569
MaxLinear, Inc., Class A (a)		11,658		117,396
Micrel, Inc.		18,884		213,012
Microsemi Corp. (a)		40,209		1,075,993
Monolithic Power Systems, Inc.		16,326		691,406
OmniVision Technologies, Inc. (a)		23,786		522,816
Pericom Semiconductor Corp. (a)		9,295		84,027
PLX Technology, Inc. (a)		17,073		110,462
PMC — Sierra, Inc. (a)		73,466		559,076
Power Integrations, Inc.		12,884		741,345
QuickLogic Corp. (a)		23,584		121,929
Rambus, Inc. (a)		48,161		688,702
RF Micro Devices, Inc. (a)		121,241		1,162,701
Rubicon Technology, Inc. (a)		11,240		98,350
Semtech Corp. (a)		28,511		745,563	��
Silicon Image, Inc. (a)		33,314		167,903
Silicon Laboratories, Inc. (a)		18,399		906,151
Spansion, Inc., Class A (a)		25,558		538,507
TriQuint Semiconductor, Inc. (a)		72,557		1,147,126
Vitesse Semiconductor Corp. (a)		20,251		69,866
				20,965,852
Semiconductors & Semiconductor Equipment — 0.1%
Ambarella, Inc. (a)(b)		12,217		380,926
Cascade Microtech, Inc. (a)		5,399		73,750
Xcerra Corp. (a)		20,494		186,496
				641,172
Shipping — 0.6%
Baltic Trading Ltd.		21,033		125,777
Frontline Ltd. (a)		28,697		83,795
GasLog Ltd.		17,850		569,237
Common Stocks	Shares		Value
Shipping (concluded)
Gulfmark Offshore, Inc., Class A		11,407	$	515,368
International Shipholding Corp.		2,309		52,922
Knightsbridge Tankers Ltd.		14,218		201,753
Matson, Inc.		18,246		489,723
Navios Maritime Holdings, Inc.		33,636		340,396
Nordic American Tankers Ltd.		37,799		360,225
Safe Bulkers, Inc.		16,597		161,987
Scorpio Tankers, Inc.		84,718		861,582
Ship Finance International Ltd.		24,991		464,583
Teekay Tankers Ltd., Class A (b)		26,215		112,462
Ultrapetrol Bahamas Ltd. (a)		9,205		27,339
UTI Worldwide, Inc.		38,884		402,061
				4,769,210
Software — 0.6%
Castlight Health, Inc. (a)		5,608		85,242
Compuware Corp.		93,128		930,349
Comverse, Inc. (a)		9,565		255,194
Five9, Inc. (a)		5,079		36,569
FleetMatics Group PLC (a)		15,819		511,586
Fusion-io, Inc. (a)		45,920		518,896
Gigamon, Inc. (a)		10,309		197,314
Kofax Ltd. (a)		32,216		277,057
Model N, Inc. (a)		8,217		90,798
Park City Group, Inc. (a)		3,999		43,549
Paycom Software, Inc. (a)		2,740		39,977
Qualys, Inc. (a)		8,469		217,399
Rally Software Development Corp. (a)		10,720		116,741
The Rubicon Project, Inc. (a)		3,369		43,258
Trulia, Inc. (a)		15,654		741,686
Vringo, Inc. (a)(b)		30,292		103,599
				4,209,214
Specialty Retail — 3.2%
1-800-Flowers.com, Inc., Class A (a)		10,569		61,300
America’s Car-Mart, Inc. (a)		3,316		131,148
American Eagle Outfitters, Inc.		82,577		926,514
ANN, Inc. (a)		19,842		816,300
Asbury Automotive Group, Inc. (a)		12,972		891,695
Aéropostale, Inc. (a)		33,480		116,845
Barnes & Noble, Inc. (a)		17,394		396,409
bebe Stores, Inc.		13,554		41,340
Big 5 Sporting Goods Corp.		7,863		96,479
Blue Nile, Inc. (a)		5,190		145,320
Brown Shoe Co., Inc.		18,493		529,085
The Buckle, Inc. (b)		11,954		530,279
Build-A-Bear Workshop, Inc. (a)		5,229		69,859
Burlington Stores, Inc. (a)		12,139		386,749
The Cato Corp., Class A		11,597		358,347
The Children’s Place Retail Stores, Inc.		9,326		462,849
Christopher & Banks Corp. (a)		15,490		135,692
Citi Trends, Inc. (a)		6,542		140,391
Conn’s, Inc. (a)		11,755		580,579
The Container Store Group, Inc. (a)(b)		7,304		202,905
Destination Maternity Corp.		5,756		131,064
Destination XL Group, Inc. (a)		14,578		80,325
Express, Inc. (a)		35,815		609,929
The Finish Line, Inc., Class A		20,377		606,012
Five Below, Inc. (a)		23,035		919,327
Francesca’s Holdings Corp. (a)		18,042		265,939
FTD Cos., Inc. (a)		8,024		255,083
Genesco, Inc. (a)		10,140		832,798
Group 1 Automotive, Inc.		10,250		864,178
Guess?, Inc.		26,075		704,025
Haverty Furniture Cos., Inc.		8,566		215,264
hhgregg, Inc. (a)(b)		5,361		54,521
Hibbett Sports, Inc. (a)(b)		10,997		595,708

See Notes to Financial Statements.

48 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Specialty Retail (concluded)
Lands’ End, Inc. (a)		6,955	$	233,549
Lithia Motors, Inc., Class A		9,663		908,998
Lumber Liquidators Holdings, Inc. (a)		11,645		884,438
MarineMax, Inc. (a)		10,489		175,586
Mattress Firm Holding Corp. (a)		6,349		303,165
The Men’s Wearhouse, Inc.		20,299		1,132,684
Monro Muffler Brake, Inc.		13,360		710,618
New York & Co., Inc. (a)		12,562		46,354
Office Depot, Inc. (a)		226,710		1,289,980
Pacific Sunwear of California, Inc. (a)		20,883		49,702
The Pep Boys-Manny Moe & Jack (a)		22,629		259,328
Pier 1 Imports, Inc.		40,228		619,914
Regis Corp.		18,524		260,818
Restoration Hardware Holdings, Inc. (a)		13,208		1,229,004
RetailMeNot, Inc. (a)		13,073		347,873
Shoe Carnival, Inc.		6,401		132,181
Shutterfly, Inc. (a)		16,333		703,299
Sonic Automotive, Inc., Class A		16,868		450,038
Sportsman’s Warehouse Holdings, Inc. (a)		4,085		32,680
Stage Stores, Inc.		13,429		250,988
Stamps.com, Inc. (a)		6,029		203,117
Stein Mart, Inc.		11,741		163,083
Systemax, Inc. (a)		4,676		67,194
Tilly’s, Inc., Class A (a)		4,722		37,965
Vitamin Shoppe, Inc. (a)		13,078		562,616
Zumiez, Inc. (a)		8,809		243,040
				24,452,470
Steel — 0.2%
AK Steel Holding Corp. (a)		58,040		461,998
Carbonite, Inc. (a)		7,551		90,386
Handy & Harman Ltd. (a)		2,073		55,494
Olympic Steel, Inc.		3,840		95,040
Schnitzer Steel Industries, Inc., Class A		11,079		288,830
Shiloh Industries, Inc. (a)		3,516		64,905
Universal Stainless & Alloy Products, Inc. (a)		2,989		97,083
				1,153,736
Technology: Miscellaneous — 0.3%
Benchmark Electronics, Inc. (a)		22,797		580,868
CTS Corp.		14,284		267,111
Fabrinet (a)		14,889		306,713
Pendrell Corp. (a)		70,012		123,221
Plexus Corp. (a)		14,352		621,298
				1,899,211
Telecommunications Equipment — 0.2%
Applied Optoelectronics, Inc. (a)		6,336		146,995
CalAmp Corp. (a)		15,231		329,904
Clearfield, Inc. (a)		4,869		81,751
Inteliquent, Inc.		13,743		190,615
Oclaro, Inc. (a)		39,884		87,745
Tessco Technologies, Inc.		2,384		75,644
Ubiquiti Networks, Inc. (a)(b)		12,606		569,665
Vocera Communications, Inc. (a)		9,741		128,581
				1,610,900
Textile Products — 0.1%
Culp, Inc.		3,592		62,537
The Dixie Group, Inc. (a)		6,294		66,654
Interface, Inc.		28,182		530,949
Unifi, Inc. (a)		6,165		169,722
				829,862
Textiles Apparel & Shoes — 0.9%
Columbia Sportswear Co.		5,781		477,800
Crocs, Inc. (a)		37,060		557,012
G-III Apparel Group Ltd. (a)		7,548		616,370
Common Stocks	Shares		Value
Textiles Apparel & Shoes (concluded)
Iconix Brand Group, Inc. (a)		19,378	$	832,091
Oxford Industries, Inc.		6,135		409,020
Perry Ellis International, Inc. (a)		5,104		89,014
Quiksilver, Inc. (a)		57,848		207,096
RG Barry Corp.		3,983		75,478
Sequential Brands Group, Inc. (a)		7,200		99,432
Skechers U.S.A., Inc., Class A (a)		16,538		755,786
Steven Madden Ltd. (a)		24,683		846,627
Tumi Holdings, Inc. (a)		21,555		433,902
Vera Bradley, Inc. (a)		9,257		202,450
Vince Holding Corp. (a)		4,724		172,993
Weyco Group, Inc.		2,708		74,226
Wolverine World Wide, Inc.		42,962		1,119,590
				6,968,887
Tobacco — 0.2%
22nd Century Group Inc. (a)		17,650		54,186
Alliance One International, Inc. (a)		38,341		95,852
Universal Corp.		9,874		546,526
Vector Group Ltd.		27,847		575,876
				1,272,440
Toys — 0.0%
JAKKS Pacific, Inc. (b)		7,831		60,612
LeapFrog Enterprises, Inc. (a)		27,957		205,484
				266,096
Transportation Miscellaneous — 0.4%
Echo Global Logistics, Inc. (a)		10,069		193,023
General Finance Corp. (a)		4,419		41,980
Hub Group, Inc., Class A (a)		15,552		783,821
Scorpio Bulkers, Inc. (a)		57,143		508,573
Textainer Group Holdings Ltd.		9,130		352,600
Wesco Aircraft Holdings, Inc. (a)		22,277		444,649
XPO Logistics, Inc. (a)		22,253		636,881
				2,961,527
Truckers — 0.7%
ArcBest Corp.		10,989		478,131
Celadon Group, Inc.		8,839		188,448
Forward Air Corp.		13,199		631,572
Heartland Express, Inc.		23,029		491,439
Knight Transportation, Inc.		25,332		602,142
Marten Transport Ltd.		10,062		224,886
PAM Transportation Services, Inc. (a)		1,289		36,041
Patriot Transportation Holding, Inc. (a)		2,793		97,671
Quality Distribution, Inc. (a)		11,529		171,321
Roadrunner Transportation Systems, Inc. (a)		11,822		332,198
Saia, Inc. (a)		10,443		458,761
Swift Transportation Co. (a)		36,109		911,030
Universal Truckload Services, Inc.		2,765		70,120
USA Truck, Inc. (a)		2,609		48,501
Werner Enterprises, Inc.		18,934		501,940
YRC Worldwide, Inc. (a)(b)		13,268		372,964
				5,617,165
Utilities: Electrical — 1.9%
ALLETE, Inc.		17,925		920,449
Atlantic Power Corp. (b)		51,213		209,973
Avista Corp.		25,483		854,190
Black Hills Corp.		18,875		1,158,736
Cleco Corp.		25,570		1,507,352
El Paso Electric Co.		17,059		685,942
The Empire District Electric Co.		18,254		468,763
IDACORP, Inc.		21,304		1,232,010
MGE Energy, Inc.		14,669		579,572
NorthWestern Corp.		16,550		863,745
NRG Yield, Inc., Class A		8,535		444,247

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 49

Schedule of Investments (continued) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Utilities: Electrical (concluded)
Otter Tail Corp.		15,413	$	466,860
Pattern Energy Group, Inc.		16,766		555,122
Pike Corp. (a)		11,341		101,615
PNM Resources, Inc.		33,731		989,330
Portland General Electric Co.		33,143		1,149,068
UIL Holdings Corp.		23,983		928,382
Unitil Corp.		5,845		197,736
UNS Energy Corp.		17,646		1,065,995
				14,379,087
Utilities: Gas Distributors — 0.9%
Chesapeake Utilities Corp.		4,084		291,312
The Laclede Group, Inc.		13,827		671,301
New Jersey Resources Corp.		17,844		1,019,963
Northwest Natural Gas Co.		11,451		539,915
Piedmont Natural Gas Co., Inc.		33,002		1,234,605
South Jersey Industries, Inc.		13,954		842,961
Southwest Gas Corp.		19,693		1,039,593
WGL Holdings, Inc.		21,954		946,217
				6,585,867
Utilities: Miscellaneous — 0.0%
Ormat Technologies, Inc.		7,524		216,917
Utilities: Telecommunications — 0.9%
8x8, Inc. (a)		37,648		304,196
Atlantic Tele-Network, Inc.		3,951		229,158
Boingo Wireless, Inc. (a)		9,879		67,473
Cbeyond, Inc. (a)		12,001		119,410
Cincinnati Bell, Inc. (a)		89,435		351,479
Cogent Communications Group, Inc.		19,685		680,117
Consolidated Communications Holdings, Inc.		16,951		376,990
Fairpoint Communications, Inc. (a)		8,780		122,657
General Communication, Inc., Class A (a)		15,162		167,995
Globalstar, Inc. (a)		116,071		493,302
GTT Communications, Inc. (a)		5,946		60,709
Hawaiian Telcom Holdco, Inc. (a)(b)		4,544		130,004
IDT Corp., Class B		7,016		122,219
inContact, Inc. (a)		25,755		236,688
Iridium Communications, Inc. (a)(b)		34,293		290,119
j2 Global, Inc.		20,114		1,022,998
Lumos Networks Corp.		8,053		116,527
magicJack VocalTec Ltd. (a)(b)		7,625		115,290
NeuStar, Inc., Class A (a)		9,676		251,769
NTELOS Holdings Corp.		7,244		90,260
ORBCOMM, Inc. (a)		18,710		123,299
Premiere Global Services, Inc. (a)		20,517		273,902
Shenandoah Telecommunications Co.		10,217		311,210
USA Mobility, Inc.		9,116		140,386
Vonage Holdings Corp. (a)		73,968		277,380
West Corp.		16,281		436,331
				6,911,868
Common Stocks	Shares		Value
Utilities: Water — 0.2%
American States Water Co.		16,449	$	546,600
Artesian Resources Corp., Class A		3,179		71,464
California Water Service Group		20,267		490,462
Connecticut Water Service, Inc.		4,567		154,684
Middlesex Water Co.		6,713		142,181
SJW Corp.		6,667		181,343
York Water Co.		5,465		113,781
				1,700,515
Total Common Stocks – 98.7%				744,123,402
Other Interests (e) — 0.0%	Beneficial Interest (000)
Gerber Scientific, Inc.	$	13		—
Rights — 0.0%	Shares
Utilities: Telecommunications — 0.0%
Leap Wireless, CVR (a)		28,200		71,064
Warrants (f) — 0.0%
Oil: Crude Producers — 0.0%
Magnum Hunter Resources Corp., (Issued 9/12/13, 1 Share for 1 Warrant, Expires 4/15/16, Strike Price $8.50)		7,791		—
Total Long-Term Investments (Cost — $467,695,654) — 98.7%				744,194,466
Short-Term Securities
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.03% (c)(g)		8,533,148		8,533,148
	Beneficial Interest (000)
BlackRock Liquidity Series, LLC, Money Market Series, 0.18% (c)(g)(h)	$	16,991		16,991,002
Total Short-Term Securities (Cost — $25,524,150) — 3.4%				25,524,150
Total Investments (Cost — $493,219,804*) — 102.1%				769,718,616
Liabilities in Excess of Other Assets — (2.1)%				(15,881,573	)
Net Assets — 100.0%			$	753,837,043

Notes to Schedule of Investments

* As of June 30, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

Tax cost	$	511,269,396
Gross unrealized appreciation	$	287,415,981
Gross unrealized depreciation		(28,966,761	)
Net unrealized appreciation	$	258,449,220

(a) Non-income producing security.

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

See Notes to Financial Statements.

50 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Schedule of Investments (continued) Master Small Cap Index Series

(c) Investments in issuers considered to be an affiliate of the Series during the six months ended June 30, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares/Beneficial Interest Held at December  31, 2013		Shares/Beneficial Interest Purchased		Shares/Beneficial Interest Sold			Shares/Beneficial Interest Held at June  30, 2014		Value at June 30, 2014		Income		Realized Loss
BlackRock Kelso Capital Corp.1		37,065		2,009		(39,074	)		—		—	$	17,111	$	(620	)
BlackRock Liquidity Funds, TempFund, Institutional Class		48,629,247		—		(40,096,099	)2		8,533,148	$	8,533,148	$	3,223		—
BlackRock Liquidity Series, LLC, Money Market Series	$	45,115,062		—	$	(28,124,060	)2	$	16,991,002	$	16,991,002	$	640,564		—
PennyMac Financial Services, Inc.		5,912		—		—			5,912	$	89,803		—		—
PennyMac Mortgage Investment Trust		28,588		2,868		—			31,456	$	690,145	$	38,554		—
1   No longer held by the Series as of report date. 2   Represents net shares/beneficial interest sold.

(d) All or a portion of security has been pledged in connection with outstanding financial futures contracts.

(e) Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

(f) Warrants entitle the Series to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date, if any.

(g) Represents the current yield as of report date.

(h) Security was purchased with the cash collateral from loaned securities. The Series may withdraw up to 25% of its investment daily, although the manager of the BlackRock Liquidity Series, LLC, Money Market Series, in its sole discretion, may permit an investor to withdraw more than 25% on any one day.

Ÿ Financial futures contracts outstanding as of June 30, 2014 were as follows:

Contracts Purchased		Issue	Exchange	Expiration	Notional Value		Unrealized Appreciation
	93	Russell 2000 Mini Index	ICE Futures U.S. Indices	September 2014	$	11,069,790	$	209,641

Ÿ For Series compliance purposes, the Series’ sector classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market 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.

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

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

Ÿ 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)

Ÿ Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Series’ own 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.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Series’ policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument 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, please refer to Note 2 of the Notes to Financial Statements.

The following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy as of June 30, 2014:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments3
Common Stocks	$	744,123,402		—		—	$	744,123,402
Rights		—		—	$	71,064		71,064
Short-Term Securities		8,533,148	$	16,991,002		—		25,524,150
Total	$	752,656,550	$	16,991,002	$	71,064	$	769,718,616
3   See above Schedule of Investments for values in each industry.

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 51

Schedule of Investments (concluded) Master Small Cap Index Series

	Level 1		Level 2		Level 3		Total
Derivative Financial Instruments 1
Assets:
Equity contracts	$	209,641		—		—	$	209,641
1   Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

The Series may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of June 30, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

	Level 1		Level 2			Level 3		Total
Assets:
Cash	$	295,759		—			—	$	295,759
Foreign currency at value		1,336		—			—		1,336
Liabilities:
Collateral on securities loaned at value		—	$	(16,991,002	)		—		(16,991,002	)
Total	$	297,095	$	(16,991,002	)		—	$	(16,693,907	)

There were no transfers between levels during the six months ended June 30, 2014.

See Notes to Financial Statements.

52 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Statements of Assets and Liabilities

June 30, 2014 (Unaudited)	Master International Index Series		Master Small Cap Index Series
Assets
Investments at value — unaffiliated1,2	$	1,081,885,587	$	743,414,518
Investments at value — affiliated3		2,668,935		26,304,098
Cash		10,799		295,759
Cash pledged for financial futures contracts		1,376,000		—
Foreign currency at value4		22,024,440		1,336
Contributions receivable from investors		5,695,311		—
Dividends receivable		5,464,181		809,165
Investments sold receivable		86,558		94,891,376
Variation margin receivable on financial futures contracts		49,128		73,996
Securities lending income receivable — affiliated		3,347		118,703
Investment advisor receivable		—		1,944
Prepaid expenses		3,299		2,332
Total assets		1,119,267,585		865,913,227
Liabilities
Collateral on securities loaned at value		912,766		16,991,002
Variation margin payable on financial futures contracts		111,003		—
Investment advisory fees payable		8,938		—
Investments purchased payable		6,678		75,206,049
Directors’ fees payable		6,432		4,034
Other affiliates payable		2,039		1,487
Withdrawals payable to investors		—		19,739,478
Other accrued expenses payable		108,871		134,134
Total liabilities		1,156,727		112,076,184
Net Assets	$	1,118,110,858	$	753,837,043
Net Assets Consist of
Investors’ capital	$	791,750,930	$	477,128,582
Net unrealized appreciation/depreciation		326,359,928		276,708,461
Net Assets	$	1,118,110,858	$	753,837,043
1 Investments at cost — unaffiliated	$	755,875,418	$	466,947,088
2 Securities loaned at value	$	870,113	$	14,822,003
3 Investments at cost — affiliated	$	2,668,935	$	26,272,716
4 Foreign currency at cost	$	21,844,762	$	1,336

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	53

Statements of Operations

Six Months Ended June 30, 2014 (Unaudited)	Master International Index Series			Master Small Cap Index Series
Investment Income
Dividends — unaffiliated	$	29,830,139		$	4,704,491
Securities lending — affiliated — net		26,054			640,564
Dividends — affiliated		411			58,888
Foreign taxes withheld		(2,504,866	)		(5,337	)
Total income		27,351,738			5,398,606
Expenses
Accounting services		111,071			93,794
Custodian		64,604			118,205
Investment advisory		51,720			42,159
Professional		34,755			35,028
Directors		14,664			13,131
Printing		9,323			4,525
Miscellaneous		46,739			21,255
Total expenses		332,876			328,097
Less fees waived and/or reimbursed by Manager		(799	)		(20,543	)
Total expenses after fees waived and/or reimbursed		332,077			307,554
Net investment income		27,019,661			5,091,052
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments — unaffiliated		(1,473,327	)		34,127,331
Investments — affiliated		—			(620	)
Financial futures contracts		1,125,257			1,816,385
Foreign currency transactions		65,577			40
		(282,493	)		35,943,136
Net change in unrealized appreciation/depreciation on:
Investments		23,901,626			(17,381,276	)
Financial futures contracts		(865,353	)		(1,301,836	)
Foreign currency translations		183,301			—
		23,219,574			(18,683,112	)
Total realized and unrealized gain		22,937,081			17,260,024
Net Increase in Net Assets Resulting from Operations	$	49,956,742		$	22,351,076

See Notes to Financial Statements.
54	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Statements of Changes in Net Assets

	Master International Index Series
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31, 2013
Operations
Net investment income	$	27,019,661		$	26,032,478
Net realized loss		(282,493	)		(8,862,796	)
Net change in unrealized appreciation/depreciation		23,219,574			155,441,911
Net increase in net assets resulting from operations		49,956,742			172,611,593
Capital Transactions
Proceeds from contributions		165,486,526			274,848,943
Value of withdrawals		(110,146,419	)		(192,790,156	)
Net increase in net assets derived from capital transactions		55,340,107			82,058,787
Net Assets
Total increase in net assets		105,296,849			254,670,380
Beginning of period		1,012,814,009			758,143,629
End of period	$	1,118,110,858		$	1,012,814,009

	Master Small Cap Index Series
	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31, 2013
Increase (Decrease) in Net Assets:
Operations
Net investment income	$	5,091,052		$	10,262,296
Net realized gain		35,943,136			37,795,072
Net change in unrealized appreciation/depreciation		(18,683,112	)		181,146,437
Net increase in net assets resulting from operations		22,351,076			229,203,805
Capital Transactions
Proceeds from contributions		103,208,731			223,976,607
Value of withdrawals		(231,121,044	)		(175,553,424	)
Net increase (decrease) in net assets derived from capital transactions		(127,912,313	)		48,423,183
Net Assets
Total increase (decrease) in net assets		(105,561,237	)		277,626,988
Beginning of period		859,398,280			581,771,292
End of period	$	753,837,043		$	859,398,280

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014	55

Financial Highlights Master International Index Series

	Six Months Ended June 30, 2014 (Unaudited)		Year Ended December 31,
			2013		2012		2011		2010		2009
Total Investment Return
Total Investment Return		4.74%1		21.94%		19.01%		(12.34)%		7.66%		28.99%
Ratio to Average Net Assets
Total expenses		0.06%2		0.07%		0.06%		0.08%		0.11%		0.09%
Total expenses after fees waived and paid indirectly		0.06%2		0.07%		0.06%		0.08%		0.10%		0.09%
Net investment income		5.22%2		2.97%		3.36%		3.38%		2.73%		2.98%
Supplemental Data
Net assets, end of period (000)		$1,118,111		$1,012,814		$758,144		$855,781		$922,700		$749,280
Portfolio turnover		1%		8%		21%		6%		8%		30%

Master Small Cap Index Series

	Six Months Ended June 30, 2014 (Unaudited)			Year Ended December 31,
				2013		2012		2011		2010		2009
Total Investment Return
Total investment return		3.16%	1		39.11%		16.52%		(4.30)%		27.19%		27.37%
Ratios to Average Net Assets
Total expenses		0.08%	2,3		0.07%		0.14%		0.09%		0.12%		0.09%
Total expenses after fees waived and/or reimbursed		0.07%	2,3		0.06%		0.08%		0.07%		0.08%		0.07%
Net investment income		1.21%	2		1.46%		2.13%		1.46%		1.27%		1.27%
Supplemental Data
Net assets, end of period (000)		$753,837			$859,398		$581,771		$529,054		$338,172		$229,637
Portfolio turnover		17%			22%		68%		31%		42%		43%

¹ Aggregate total investment return.

² Annualized.

³ Ratio does not include expenses incurred indirectly as a result of investments in underlying funds of approximately 0.09%.

See Notes to Financial Statements.
56	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2014

Notes to Financial Statements (Unaudited) Quantitative Master Series LLC

1. Organization:

Master International Index Series ( “Master International Index”) and Master Small Cap Index Series (“Master Small Cap Index”) (collectively, the “Series”, or individually, a “Series”) are a series of Quantitative Master Series LLC (the “Master LLC”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Master LLC is organized as a Delaware limited liability company. Each Series is classified as diversified. The Master LLC’s Limited Liability Company Agreement permits the Board of Directors of the Master LLC (the “Board”) to issue non-transferable interests in the Master LLC, subject to certain limitations.

The Series, together with certain other registered investment companies advised by BlackRock Advisors, LLC (the “Manager”) or its affiliates, is included in a complex of open-end funds referred to as the Equity-Liquidity Complex.

2. Significant Accounting Policies:

The Series’ financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Series is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Series:

Valuation: U.S. GAAP defines fair value as the price the Series would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Series determine the fair values of their financial instruments at market value using independent dealers or pricing services under policies approved by the Board. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to provide oversight of the pricing function for the Series for all financial instruments.

Equity investments traded on a recognized securities exchange or the NASDAQ Stock Market (“NASDAQ”) are valued at the last reported sale price that day or the NASDAQ official closing price, if applicable. For equity investments traded on more than one exchange, the last reported sale price on the exchange where the stock is primarily traded is used. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last available bid (long positions) or ask (short positions) price. Financial futures contracts traded on exchanges are valued at their last sale price. Investments in open-end registered investment companies are valued at NAV each business day.

Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates determined as of the close of business on the New York Stock Exchange (“NYSE”). Foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of business on the NYSE. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available.

The Series values its investments in BlackRock Liquidity Series, LLC, Money Market Series (the “Money Market Series”) at fair value, which is ordinarily based upon its pro rata ownership in the underlying fund’s net assets. The Money Market Series seeks current income consistent with maintaining liquidity and preserving capital. Although the Money Market Series is not registered under the 1940 Act, its investments will follow the parameters of investments by a money market fund that is subject to Rule 2a-7 under the 1940 Act. The Series may withdraw up to 25% of its investment daily, although the manager of the Money Market Series, in its sole discretion, may permit an investor to withdraw more than 25% on any one day.

In the event that the application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Global Valuation Committee, or its delegate, in accordance with a policy approved by the Board as reflecting fair value (“Fair Value Assets”). When determining the price for Fair Value Assets, the Global Valuation Committee, or its delegate, seeks to determine the price that each Series might reasonably expect to receive from the current sale of that asset in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant consistent with the principles of fair value measurement, which include the market approach, income approach and/or in the case of recent investments, the cost approach, as appropriate. The market approach generally consists of using comparable market transactions. The income approach generally is used to discount future cash flows to present value and is adjusted for liquidity as appropriate. These factors include but are not limited to: (i) attributes specific to the investment or asset; (ii) the principal market for the investment or asset; (iii) the customary participants in the principal market for the investment or asset; (iv) data assumptions by market participants for the investment or asset, if reasonably available; (v) quoted prices for similar investments or assets in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates. Due to the inherent uncertainty of valuations of such investments, the fair values may differ from the values that would have been used had an active market existed. The Global Valuation Committee, or its delegate, employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of the Series’ pricing vendors, regular reviews of key inputs and assumptions, transactional back-testing or disposition analysis to compare unrealized gains and losses to realized gains and losses, reviews of missing or stale prices and large movements in market values and reviews of any market related activity. The pricing of all Fair Value Assets is subsequently reported to the Board or a committee thereof on a quarterly basis.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 57

Notes to Financial Statements (continued) Quantitative Master Series LLC

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of business on the NYSE. Occasionally, events affecting the values of such instruments may occur between the foreign market close and the close of business on the NYSE that may not be reflected in the computation of the Series’ net assets. If events (e.g., a company announcement, market volatility or a natural disaster) occur during such periods that are expected to materially affect the value of such instruments, those instruments may be Fair Value Assets and valued at their fair value, as determined in good faith by the Global Valuation Committee, or its delegate, using a pricing service and/or policies approved by the Board. Each business day, the Series use a pricing service to assist with the valuation of certain foreign exchange-traded equity securities and foreign exchange-traded and over-the-counter (“OTC”) options (the “Systematic Fair Value Price”). Using current market factors, the Systematic Fair Value Price is designed to value such foreign securities and foreign options at fair value as of the close of business on the NYSE, which follows the close of the local markets.

Foreign Currency: The Series’ books and records are maintained in U.S. dollars. Purchases and sales of investment securities are recorded at the rates of exchange prevailing on the respective date of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the Series’ investments denominated in that currency will lose value because that currency is worth fewer U.S. dollars; the opposite effect occurs if the U.S. dollar falls in relative value.

The Series do not isolate the portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in the market prices of investments held or sold for financial reporting purposes. Accordingly, the effects of changes in foreign currency exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments but are included as a component of net realized and unrealized gain (loss) from investments. The Series report realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for federal income tax purposes.

Segregation and Collateralization: In cases where a Series enters into certain investments (e.g., financial futures contracts and forward foreign currency exchange contracts) that would be “senior securities” for 1940 Act purposes, the Series may segregate or designate on its books and records cash or liquid securities having a market value at least equal to the amount of the Series’ future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, if required by an exchange or counterparty agreement, the Series may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments or obligations.

Investment Transactions and Investment Income: For financial reporting purposes, investment transactions are recorded on the dates the transactions are entered into (the trade date). Realized gains and losses on investment transactions are determined on the identified cost basis. Dividend income is recorded on the ex-dividend date. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Series is informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers, some of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.

Recent Accounting Standard: In June 2014, the Financial Accounting Standards Board issued guidance to improve the financial reporting of reverse repurchase agreements and other similar transactions. The guidance includes expanded disclosure requirements for entities that enter into reverse repurchase agreements and similar transactions accounted for as secured borrowings. The guidance is effective for financial statements with fiscal years beginning on or after December 15, 2014 and interim periods within those fiscal years. Management is evaluating the impact, if any, of this guidance on the Series’ financial statement disclosures.

Other: Expenses directly related to a Series are charged to that Series. Other operating expenses shared by several funds are pro rated among those funds on the basis of relative net assets or other appropriate methods.

The Series have an arrangement with the custodian whereby fees may be reduced by credits earned on uninvested cash balances, which, if applicable, are shown as fees paid indirectly in the Statements of Operations. The custodian imposes fees on overdrawn cash balances, which can be offset by accumulated credits earned or may result in additional custody charges.

3. Securities and Other Investments:

Preferred Stock: The Series may invest in preferred stock. Preferred stock has a preference over common stock in liquidation (and generally in receiving dividends as well) but is subordinated to the liabilities of the issuer in all respects. As a general rule, the market value of preferred stock with a fixed dividend rate and no conversion element varies inversely with interest rates and perceived credit risk, while the market price of convertible preferred stock generally also reflects some element of conversion value. Because preferred stock is junior to debt securities and other obligations of the issuer, deterioration in the credit quality of the issuer will cause greater changes in the value of a preferred stock than in a more senior debt security with similar stated yield characteristics. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock also may be subject to optional or mandatory redemption provisions.

Securities Lending: The Series may lend their securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. government. The initial

58 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Notes to Financial Statements (continued) Quantitative Master Series LLC

collateral received by the Series is required to have at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current market value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Series and any additional required collateral is delivered to the Series on the next business day. During the term of the loan, the Series earns dividend or interest income on the securities loaned but does not receive interest income on any securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return the borrowed securities within the standard time period for settlement of securities transactions.

The market value of securities on loan and the value of the related collateral are shown separately in the Statements of Assets and Liabilities as a component of investments at value, and collateral on securities loaned at value, respectively. As of June 30, 2014, any securities on loan were collateralized by cash. The cash collateral invested by the securities lending agent, BlackRock Investment Management, LLC (“BIM”), if any, is disclosed in the Schedules of Investments.

Securities lending transactions are entered into by the Series under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency), for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Series, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, the borrower can resell or re-pledge the loaned securities, and the Series can reinvest cash collateral, or, upon an event of default, resell or re-pledge the collateral.

The following tables are a summary of the Series’ securities lending agreements by counterparty which are subject to offset under an MSLA as of June 30, 2014:

Master International Index
Counterparty	Securities Loaned at Value		Cash  Collateral Received1			Net Amount
Credit Suisse Securities (USA) LLC	$	87,172	$	(87,172	)		—
JP Morgan Clearing Corp.		55,252		(55,252	)		—
Morgan Stanley & Co. LLC		727,689		(727,689	)		—
Total	$	870,113	$	(870,113	)		—

¹ Collateral with a value of $912,766 has been received in connection with securities lending agreements. Excess of collateral received from the individual counterparty is not shown for financial reporting purposes.

Master Small Cap Index
Counterparty	Securities Loaned at Value		Cash  Collateral Received2			Net Amount
Barclays Capital, Inc.	$	140,967	$	(140,967	)		—
BNP Paribas Prime Brokerage, Inc.		225,846		(225,846	)		—
Citigroup Global Markets, Inc.		510,783		(510,783	)		—
Credit Suisse Securities (USA) LLC		572,959		(572,959	)		—
Deutsche Bank Securities, Inc.		339,830		(339,830	)		—
Goldman Sachs & Co.		3,932,756		(3,932,756	)		—
JP Morgan Clearing Corp.		3,112,196		(3,112,196	)		—
Merrill Lynch, Pierce, Fenner & Smith, Inc.		1,240,026		(1,240,026	)		—
Morgan Stanley & Co. LLC		4,056,511		(4,056,511	)		—
National Financial Services LLC		152,172		(152,172	)		—
SG Americas Securities LLC		437,457		(437,457	)		—
UBS Securities LLC		100,500		(100,500	)		—
Total	$	14,822,003	$	(14,822,003	)		—

² Collateral with a value of $16,991,002 has been received in connection with securities lending agreements. Excess of collateral received from the individual counterparty is not shown for financial reporting purposes.

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Series benefit from a borrower default indemnity provided by BIM. BIM’s indemnity allows for full replacement of the securities lent if the collateral received does not cover the value on the securities loaned in the event of a borrower default. The Series could suffer a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received.

4. Derivative Financial Instruments:

The Series engage in various portfolio investment strategies using derivative contracts both to increase the returns of the Series and/or to economically hedge their exposure to certain risks such as equity risk or foreign currency exchange rate risk. These contracts may be transacted on an exchange or OTC.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 59

Notes to Financial Statements (continued) Quantitative Master Series LLC

Financial Futures Contracts: The Series purchase and/or sell financial futures contracts and options on financial futures contracts to gain exposure to, or economically hedge against, changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk). Financial futures contracts are agreements between the Series and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and at a specified date. Depending on the terms of the particular contract, financial futures contracts are settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash settlement amount on the settlement date.

Upon entering into a financial futures contract, the Series are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Securities deposited as initial margin are designated on the Schedules of Investments and cash deposited, if any, is recorded on the Statements of Assets and Liabilities as cash pledged for financial futures contracts. Pursuant to the contract, the Series agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as variation margin. Variation margin is recorded by the Series as unrealized appreciation or depreciation and, if applicable, as a receivable or payable for variation margin in the Statements of Assets and Liabilities.

When the contract is closed, the Series record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The use of financial futures contracts involves the risk of an imperfect correlation in the movements in the price of financial futures contracts, interest or foreign currency exchange rates and the underlying assets.

Forward Foreign Currency Exchange Contracts: The Series enter into forward foreign currency exchange contracts as an economic hedge against either specific transactions or portfolio instruments or to obtain exposure to, or hedge exposure away from, foreign currencies (foreign currency exchange rate risk). A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a future date. Forward foreign currency exchange contracts, when used by the Series, help to manage the overall exposure to the currencies in which some of the investments held by the Series are denominated. The contract is marked-to-market daily and the change in market value is recorded by the Series as an unrealized gain or loss. When the contract is closed, the Series record a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. The use of forward foreign currency exchange contracts involves the risk that the value of a foreign currency exchange contract changes unfavorably due to movements in the value of the referenced foreign currencies.

The following is a summary of the Series’ derivative financial instruments categorized by risk exposure:

Fair Values of Derivative Financial Instruments as of June 30, 2014
		Value
	Statements of Assets and Liabilities Location	Derivative Assets		Derivative Liabilities
		Master Small Cap Index		Master International Index
Equity contracts	Net unrealized appreciation/depreciation1	$	209,641	$	(106,638	)

¹  Includes cumulative appreciation/depreciation on financial futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.

The Effect of Derivative Financial Instruments in the Statements of Operations Six Months Ended June 30, 2014
	Net Realized Gain (Loss) From				Net Change in Unrealized Appreciation/Depreciation on
	Master International  Index		Master Small Cap  Index		Master International  Index			Master Small Cap  Index
Equity contracts:
Financial futures contracts	$	1,125,257	$	1,816,385	$	(865,353	)	$	(1,301,836	)

For the six months ended June 30 2014, the average quarterly balances of outstanding derivative financial instruments were as follows:

	Master International Index		Master Small Cap Index
Financial futures contracts:
Average number of contracts purchased		353		171
Average notional value of contracts purchased	$	24,504,259	$	20,049,095

Counterparty Credit Risk: A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

The Series’ risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by such Series.

60 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Notes to Financial Statements (continued) Quantitative Master Series LLC

With exchange-traded futures, there is less counterparty credit risk to the Series since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Series does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency) of the clearing broker or clearinghouse. Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Series.

In order to better define its contractual rights and to secure rights that will help the Series mitigate its counterparty risk, the Series may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its counterparties. An ISDA Master Agreement is a bilateral agreement between each Series and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, each Series may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. Bankruptcy or insolvency laws of a particular jurisdiction restrict or prohibit the right of offset in bankruptcy, insolvency or other events. In addition, certain ISDA Master Agreements allow counterparties to terminate derivative contracts prior to maturity in the event the Series’ net assets decline by a stated percentage or the Series fails to meet the terms of its ISDA Master Agreements. The result would cause the Series to accelerate payment of any net liability owed to the counterparty.

Collateral Requirements: For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Series and the counterparty.

Cash collateral that has been pledged to cover obligations of the Series and cash collateral received from the counterparty, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Series, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (typically either $250,000 or $500,000) before a transfer is required, which is determined at the close of business of the Series. Any additional required collateral is delivered to/pledged by the Series on the next business day. Typically, the Series and counterparties are not permitted to sell, re-pledge or use the collateral they receive. To the extent amounts due to the Series from its counterparties are not fully collateralized, contractually or otherwise, the Series bears the risk of loss from counterparty non-performance. Likewise, to the extent a Series has delivered collateral as a counterparty and stands ready to perform under the terms of its agreement with such counterparty, a Series bears the risk of loss from a counterparty on the amount of the value of the collateral in the event the counterparty fails to return such collateral.

For financial reporting purposes, the Series do not offset derivative assets and derivative liabilities that are subject to netting arrangements, if any, in the Statements of Assets and Liabilities.

5. Investment Advisory Agreement and Other Transactions with Affiliates:

The PNC Financial Services Group, Inc. is the largest stockholder and an affiliate, for 1940 Act purposes, of BlackRock, Inc. (“BlackRock”).

The Master LLC, on behalf of the Series, entered into an Investment Advisory Agreement with the Manager, the Series’ investment advisor, an indirect, wholly owned subsidiary of BlackRock, to provide investment advisory and administration services. The Manager is responsible for the management of the Series’ portfolios and provides the necessary personnel, facilities, equipment and certain other services necessary to the operations of the Series. For such services, the Series pays the Manager a monthly fee at an annual rate of 0.01% of the Series’ average daily net assets.

The Manager contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, acquired fund fees and expenses and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of the Series’ business. The expense limitation as a percentage of average daily net assets is 0.12% for Master International Index and 0.08% for Master Small Cap Index.

The Manager has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2015 unless approved by the Board, including a majority of the Independent Directors. For the six months ended June 30, 2014, Master Small Cap Index waived $12,895, which is included in fees waived by Manager in the Statements of Operations.

The Manager voluntarily agreed to waive its investment advisory fees by the amount of investment advisory fees the Series pays to the Manager indirectly through its investment in affiliated money market funds. However, the Manager does not waive its investment advisory fees by the amount of investment advisory fees paid in connection with the Series’ investment in other affiliated investment companies, if any. These amounts are included in fees waived by Manager in the Statements of Operations. For the six months ended June 30, 2014, the amounts waived for Master International Index and Master Small Cap Index were $799 and $7,648, respectively.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 61

Notes to Financial Statements (continued) Quantitative Master Series LLC

The Manager entered into a sub-advisory agreement with BIM, an affiliate of the Manager. The Manager pays BIM, for services it provides, a monthly fee that is a percentage of the investment advisory fees paid by the Series to the Manager. Effective July 1, 2014, the sub-advisory agreement between the Manager and BIM, with respect to the Master Portfolio, expired.

For the six months ended June 30, 2014, Master International Index and Master Small Cap Index reimbursed the Manager $4,980 and $4,075, respectively, for certain accounting services, which is included in accounting services in the Statements of Operations.

The U.S. Securities and Exchange Commission has issued an exemptive order which permits BIM, an affiliate of the Manager, to serve as securities lending agent for the Series, subject to applicable conditions. As securities lending agent, BIM bears all operational costs directly related to securities lending. The Series are responsible for expenses in connection with the investment of cash collateral received for securities on loan (the “collateral investment expenses”). The cash collateral is invested in a private investment company managed by the Manager or its affiliates. However, BIM has agreed to cap the collateral investment expenses of the private investment company to an annual rate of 0.04%. The investment advisor to the private investment company will not charge any advisory fees with respect to shares purchased by the Series.

Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment expenses. Each Series retains a portion of securities lending income and remits a remaining portion to BIM as compensation for its services as securities lending agent. Pursuant to a securities lending agreement effective February 1, 2014, BIM may lend securities only when the difference between the borrower rebate rate and the risk free rate exceeds a certain level (such securities, the “specials only securities”).

Pursuant to such agreement, each Series retains 80% of securities lending income. In addition, commencing the business day following the date that the aggregate securities lending income earned across the Equity-Liquidity Complex in a calendar year exceeds the aggregate securities lending income earned across the Equity-Liquidity Complex through the lending of specials only securities in the calendar year 2013, each Series, pursuant to the securities lending agreement, will retain for the remainder of the calendar year securities lending income in an amount equal to 85% of securities lending income. Prior to February 1, 2014, each Series retained 65% of securities lending income and paid a fee to BIM equal to 35% of such income. The share of securities lending income earned by each Series is shown as securities lending — affiliated – net in the Statements of Operations. For the six months ended June 30, 2014, each Series paid BIM the following amounts for securities lending agent services:

Master International Index	Master Small Cap Index
$7,919	$187,880

Certain officers and/or directors of the Master LLC are officers and/or directors of BlackRock or its affiliates.

The Series may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is due solely to having a common investment adviser, common officers, or common trustees. For the six months ended June 30, 2014, the purchase and sale transactions with an affiliated fund in compliance with Rule 17a-7 under the 1940 Act were as follows:

	Master Small Cap Index
Purchases	$	10,074,002
Sales	$	30,861,395

6. Purchases and Sales:

Purchases and sales of investments, excluding short-term securities, for the six months ended June 30, 2014, were as follows:

	Master International Index		Master Small Cap Index
Purchases	$	87,702,584	$	141,414,944
Sales	$	15,249,321	$	237,470,902

7. Income Tax Information:

Income Taxes: The Series are classified as partnerships for federal income tax purposes. As such, each investor in the Series is treated as the owner of its proportionate share of net assets, income, expenses and realized and unrealized gains and losses of the Series. Therefore, no federal income tax provision is required. It is intended that the Series’ assets will be managed so an investor in the Series can satisfy the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended.

The Series file U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Series’ U.S. federal tax returns remains open for each of the four years ended December 31, 2013. The statutes of limitations on the Series’ state and local tax returns may remain open for an additional year depending upon the jurisdiction.

Management has analyzed tax laws and regulations and their application to the Series’ facts and circumstances and does not believe there are any uncertain tax positions that require recognition of a tax liability.

62 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Notes to Financial Statements (continued) Quantitative Master Series LLC

8. Bank Borrowings:

The Series, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $1.1 billion credit agreement with a group of lenders, under which the Series may borrow to fund shareholder redemptions. The agreement expires in April 2015. Excluding commitments designated for a certain individual fund, other Participating Funds, including the Series, can borrow up to an aggregate commitment amount of $650 million, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.06% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) the one-month LIBOR plus 0.80% per annum or (b) the Fed Funds rate plus 0.80% per annum on amounts borrowed. Participating Funds paid administration and arrangement fees which, along with commitment fees, were allocated among such funds based upon portions of the aggregate commitment available to them and relative net assets of Participating Funds. The Series did not borrow under the credit agreement during the six months ended June 30, 2014.

9. Concentration, Market and Credit Risk:

In the normal course of business, the Series invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Series may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Series; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to issuer credit risk, the Series may be exposed to counterparty credit risk, or the risk that an entity with which the Series have unsettled or open transactions may fail to or be unable to perform on its commitments. The Series manage counterparty credit risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Series to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Series’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is generally approximated by their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Series.

Master International Index invests a substantial amount of its assets in issuers located in a single country or a limited number of countries. When the Series concentrates its investments in this manner, it assumes the risk that economic, political and social conditions in those countries may have a significant impact on their investment performance. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be less liquid, more volatile, and less subject to governmental supervision not typically associated with investing in U.S. securities. Please see the Schedules of Investments for concentrations in specific countries.

Master International Index invests a significant portion of its assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Master International Index’s investments.

As of June 30, 2014, Master Small Cap Index invests a significant portion of its assets in securities in the financials sector. Changes in economic conditions affecting the financials sector would have a greater impact on Master Small Cap Index and could affect the value, income and/or liquidity of positions in such securities.

As of June 30, 2014, the Series had the following industry classifications:

Master International Index
Industry	Percent of Long-Term  Investments
Commercial Banks		13%
Pharmaceuticals		9%
Oil, Gas & Consumable Fuels		7%
Insurance		5%
Other1		66%

Master Small Cap Index
Industry	Percent of Long-Term  Investments
Real Estate Investment Trusts		8%
Banks: Diversified		7%
Computer Services Software & Systems		6%
Other1		79%

¹  All other industries held were less than 5% of long-term investments.

10. Subsequent Events:

Management has evaluated the impact of all subsequent events on the Series through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 63

Disclosure of Investment Advisory Agreement

The Board of Directors of Quantitative Master Series LLC (the “Master LLC”) met in person on April 24, 2014 (the “April Meeting”) and May 28-30, 2014 (the “May Meeting”) to consider the approval of the Master LLC’s investment advisory agreement (the “Advisory Agreement”) with BlackRock Advisors, LLC (the “Manager” or “BlackRock”), the Master LLC’s investment advisor, on behalf of each of Master International Index Series and Master Small Cap Index Series (each, a “Master Portfolio” and collectively, the “Master Portfolios”), each a series of the Master LLC. At the May Meeting, it was noted that the sub-advisory agreement (the “Sub-Advisory Agreement”) between the Manager and BlackRock Investment Management, LLC with respect to each of the Master Portfolios would expire effective July 1, 2014. It was also noted that the non-renewal of the Sub-Advisory Agreement would not result in any change in the nature or quality of services provided to either of the Master Portfolios, or in the portfolio management team that serves each respective Master Portfolio. Each of BlackRock International Index Fund and BlackRock Small Cap Index Fund (each, a “Fund” and collectively, the “Funds”), each a series of BlackRock Index Funds, Inc. (the “Corporation”), is a “feeder” fund that invests all of its investable assets in the corresponding Master Portfolio. Accordingly, the Board of Directors of the Corporation also considered the approval of the Advisory Agreement with respect to each Master Portfolio. For simplicity: (a) the Board of Directors of the Master LLC and the Board of Directors of the Corporation are referred to herein collectively as the “Board,” and the members are referred to as “Board Members;” and (b) the shareholders of each Fund and the interest holders of each Master Portfolio are referred to as “shareholders.”

Activities and Composition of the Board

The Board consists of fifteen individuals, thirteen of whom are not “interested persons” of the Master LLC or the Corporation as defined in the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Board Members”). The Board Members are responsible for the oversight of the operations of the Master LLC or the Corporation, as pertinent, and perform the various duties imposed on the directors of investment companies by the 1940 Act. The Independent Board Members have retained independent legal counsel to assist them in connection with their duties. The Co-Chairs of the Board are each Independent Board Members. The Board has established five standing committees: an Audit Committee, a Governance and Nominating Committee, a Compliance Committee, a Performance Oversight and Contract Committee and an Executive Committee, each of which is chaired by an Independent Board Member and composed of Independent Board Members (except for the Executive Committee, which also has one interested Board Member).

The Advisory Agreement

Pursuant to the 1940 Act, the Board is required to consider the continuation of the Advisory Agreement on an annual basis. The Board has four quarterly meetings per year, each extending over two or three days, and a fifth one-day meeting to consider specific information surrounding the consideration of renewing the Advisory Agreement. In connection with this process, the Board assessed, among other things, the nature, scope and quality of the services provided to the Master Portfolios and the Funds by BlackRock, its personnel and its affiliates, including (as applicable) investment management; administrative and shareholder services; oversight of fund service providers; marketing services; risk oversight; compliance and assistance in meeting applicable legal and regulatory requirements.

The Board, acting directly and through its committees, considers at each of its meetings, and from time to time as appropriate, factors that are relevant to its annual consideration of the renewal of the Advisory Agreement, including the services and support provided by BlackRock to the Master Portfolios, the Funds and their shareholders. Among the matters the Board considered were: (a) investment performance for one-year, three-year, five-year and/or since inception periods, as applicable, against peer funds, and applicable benchmarks, if any, as well as senior management’s and portfolio managers’ analysis of the reasons for any over performance or underperformance against their peers and/or benchmark, as applicable; (b) fees, including advisory, administration, if applicable, and other amounts paid to BlackRock and its affiliates by the Master Portfolios and/or the Funds for services, such as marketing and distribution, call center and fund accounting; (c) the Master Portfolios’ and/or the Funds’ operating expenses and how BlackRock allocates expenses to the Master Portfolios and the Funds; (d) the resources devoted to, risk oversight of, and compliance reports relating to, implementation of each Master Portfolio’s and Fund’s investment objective, policies and restrictions, and meeting new regulatory requirements; (e) the Master LLC’s and the Corporation’s compliance with its respective Code of Ethics and other compliance policies and procedures; (f) the nature, cost and character of non-investment management services provided by BlackRock and its affiliates; (g) BlackRock’s and other service providers’ internal controls and risk and compliance oversight mechanisms; (h) BlackRock’s implementation of the proxy voting policies approved by the Board; (i) the use of brokerage commissions and execution quality of portfolio transactions; (j) BlackRock’s implementation of the Master LLC’s and/or the Corporation’s valuation and liquidity procedures; (k) an analysis of management fees for products with similar investment objectives across the open-end fund, exchange-traded fund (“ETF”), closed-end fund and institutional account product channels, as applicable, and the similarities and differences between the services provided to these products as compared to the Master LLC and/or the Corporation; (l) BlackRock’s compensation methodology for its investment professionals and the incentives it creates; and (m) periodic updates on BlackRock’s business.

The Board has engaged in an ongoing strategic review with BlackRock of BlackRock’s product pipeline, opportunities to consolidate funds and BlackRock’s commitment to investment performance. BlackRock also furnished information to the Board in response to specific questions. These questions covered issues such as: BlackRock’s profitability, implementation of alternative investment strategies, investment performance, portfolio manager compensation and accountability, portfolio managers’ investments in the funds they manage, supplemental service agreements with third party distribution partners, subadvisory and advisory relationships with other clients (including mutual funds sponsored by third parties) and management fee levels and breakpoints. The Board further considered the importance of: (i) BlackRock’s management organization; (ii) marketing support for the funds; (iii) services provided to the funds by BlackRock affiliates; and (iv) BlackRock’s oversight of relationships with third party service providers.

64 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Disclosure of Investment Advisory Agreement (continued)

Board Considerations in Approving the Advisory Agreement

The Approval Process: Prior to the April Meeting, the Board requested and received materials specifically relating to the Advisory Agreement. The Board is continuously engaged in a process with its independent legal counsel and BlackRock to review the nature and scope of the information provided to better assist its deliberations. The materials provided in connection with the April Meeting included (a) information independently compiled and prepared by Lipper, Inc. (“Lipper”) on fees and expenses of each Master Portfolio and Fund, as applicable, as compared with a peer group of funds as determined by Lipper (“Expense Peers”) and the investment performance of each Fund as compared with a peer group of funds as determined by Lipper¹, as well as the gross investment performance of each Fund as compared with its benchmark; (b) information on the profits realized by BlackRock and its affiliates pursuant to the Advisory Agreement and a discussion of fall-out benefits to BlackRock and its affiliates; (c) a general analysis provided by BlackRock concerning investment management fees charged to other clients, such as institutional clients, ETFs and closed-end funds, under similar investment mandates, as well as the performance of such other clients, as applicable; (d) review of non-management fees; (e) the existence, impact and sharing of potential economies of scale; (f) a summary of aggregate amounts paid by each Master Portfolio and/or Fund to BlackRock; (g) sales and redemption data regarding each Fund’s shares; and (h) if applicable, a comparison of management fees to similar BlackRock open-end funds, as classified by Lipper.

At the April Meeting, the Board reviewed materials relating to its consideration of the Advisory Agreement. As a result of the discussions that occurred during the April Meeting, and as a culmination of the Board’s year-long deliberative process, the Board presented BlackRock with questions and requests for additional information. BlackRock responded to these requests with additional written information in advance of the May Meeting.

At the May Meeting, the Board of the Master LLC, including all the Independent Board Members, approved the continuation of the Advisory Agreement between the Manager and the Master LLC with respect to each Master Portfolio for a one-year term ending June 30, 2015. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Advisory Agreement with respect to each Master Portfolio and found the Advisory Agreement to be satisfactory. In approving the continuation of the Advisory Agreement, the Board of the Master LLC considered: (a) the nature, extent and quality of the services provided by BlackRock; (b) the investment performance of each Master Portfolio, each Fund and BlackRock; (c) the advisory fee and the cost of the services and profits to be realized by BlackRock and its affiliates from their relationship with the Master Portfolios and the Funds; (d) each Fund’s costs to investors compared to the costs of Expense Peers and performance compared to the relevant performance comparison as previously discussed; (e) economies of scale; (f) fall-out benefits to BlackRock and its affiliates as a result of its relationship with the Master Portfolios and the Funds; and (g) other factors deemed relevant by the Board Members.

The Board also considered other matters it deemed important to the approval process, such as payments made to BlackRock or its affiliates relating to the distribution of Fund shares and securities lending, services related to the valuation and pricing of portfolio holdings of each Master Portfolio, direct and indirect benefits to BlackRock and its affiliates from their relationship with the Master Portfolios and the Funds and advice from independent legal counsel with respect to the review process and materials submitted for the Board’s review. The Board noted the willingness of BlackRock personnel to engage in open, candid discussions with the Board. The Board did not identify any particular information as determinative, and each Board Member may have attributed different weights to the various items considered.

A. Nature, Extent and Quality of the Services Provided by BlackRock: The Board, including the Independent Board Members, reviewed the nature, extent and quality of services provided by BlackRock, including the investment advisory services and the resulting performance of each Fund. Throughout the year, the Board compared each Fund’s performance to the performance of a comparable group of mutual funds and/or the performance of a relevant benchmark, as applicable. The Board met with BlackRock’s senior management personnel responsible for investment activities, including the senior investment officers. The Board also reviewed the materials provided by each Master Portfolio’s portfolio management team discussing Master Portfolio performance and the Master Portfolio’s investment objective, strategies and outlook.

The Board considered, among other factors, with respect to BlackRock: the number, education and experience of investment personnel generally and each Master Portfolio’s portfolio management team; investments by portfolio managers in the funds they manage; portfolio trading capabilities; use of technology; commitment to compliance; credit analysis capabilities; risk analysis and oversight capabilities; and the approach to training and retaining portfolio managers and other research, advisory and management personnel. The Board engaged in a review of BlackRock’s compensation structure with respect to each Master Portfolio’s portfolio management team and BlackRock’s ability to attract and retain high-quality talent and create performance incentives.

In addition to advisory services, the Board considered the quality of the administrative and other non-investment advisory services provided to each Master Portfolio and Fund. BlackRock and its affiliates provide the Master Portfolios and the Funds with certain administrative, shareholder and other services (in addition to any such services provided to the Master Portfolios and the Funds by third parties) and officers and other personnel as are necessary for the operations of the Master Portfolios and the Funds. In particular, BlackRock and its affiliates provide the Master Portfolios and the Funds with the following administrative services including, among others: (i) preparing disclosure documents, such as the prospectus, the summary prospectus (as applicable), the statement of additional information and periodic shareholder reports; (ii) oversight of daily accounting and pricing; (iii) overseeing and coordinating the activities of other service providers; (iv) organizing Board meetings and preparing the materials for such Board meetings; (v) providing legal and compliance support; (vi) furnishing analytical and other support to assist the Board in its consideration of strategic issues such as the merger or

¹  Funds are ranked by Lipper in quartiles, ranging from first to fourth, where first is the most desirable quartile position and fourth is the least desirable.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 65

Disclosure of Investment Advisory Agreement (continued)

consolidation of certain open-end funds; and (vii) performing other administrative functions necessary for the operation of the Master Portfolios and the Funds, such as tax reporting, fulfilling regulatory filing requirements and call center services. The Board reviewed the structure and duties of BlackRock’s fund administration, shareholder services, legal and compliance departments and considered BlackRock’s policies and procedures for assuring compliance with applicable laws and regulations.

B. The Investment Performance of the Master Portfolios, the Funds and BlackRock: The Board, including the Independent Board Members, also reviewed and considered the performance history of each Master Portfolio and Fund, as applicable. The Board noted that each Fund’s investment results correspond directly to the investment results of the applicable Master Portfolio. In preparation for the April Meeting, the Board worked with its independent legal counsel, BlackRock and Lipper to develop a template for, and was provided with, reports independently prepared by Lipper, which included a comprehensive analysis of each Fund’s performance. The Board also reviewed a narrative and statistical analysis of the Lipper data that was prepared by BlackRock, which analyzed various factors that affect Lipper’s rankings. In connection with its review, the Board received and reviewed information regarding the investment performance of each Fund as compared to other funds in its applicable Lipper category and the gross investment performance of each Fund as compared with its benchmark. The Board was provided with a description of the methodology used by Lipper to select peer funds and periodically meets with Lipper representatives to review its methodology. The Board and its Performance Oversight and Contract Committee regularly review, and meet with Master Portfolio management to discuss, the performance of each Master Portfolio and Fund, as applicable, throughout the year.

The Board noted that for the one-, three- and five-year periods reported, BlackRock International Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was within tolerance of its benchmark, exceeded its benchmark and underperformed its benchmark, respectively. BlackRock believes that gross performance relative to the benchmark is an appropriate performance metric for the Fund.

The Board noted that for the one-, three- and five-year periods reported, BlackRock Small Cap Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was out of tolerance, within tolerance and out of tolerance of its benchmark, respectively. BlackRock believes that gross performance relative to the benchmark is an appropriate performance metric for the Fund. The Board and BlackRock reviewed and discussed the reasons for the Fund’s out of tolerance performance during the one- and five-year periods. The Board was informed that, among other things, the two factors which caused the Fund to exceed the benchmark, by an out of tolerance amount, in the one- and five-year periods were the result of securities lending and other income items not contained in the benchmark.

The Board and BlackRock also discussed BlackRock’s strategy for improving the performance of Master Small Cap Index Series/BlackRock Small Cap Index Fund and BlackRock’s commitment to providing the resources necessary to assist Master Small Cap Index Series’ portfolio managers in seeking to improve the performance of Master Small Cap Index Series/BlackRock Small Cap Index Fund.

C. Consideration of the Advisory/Management Fees and the Cost of the Services and Profits to be Realized by BlackRock and its Affiliates from their Relationship with the Master Portfolios and the Funds: The Board, including the Independent Board Members, reviewed each Master Portfolio’s/Fund’s contractual management fee rate compared with the other funds in the corresponding Fund’s Lipper category. The contractual management fee rate represents a combination of the advisory fee and any administrative fees, before taking into account any reimbursements or fee waivers. The Board also compared each Fund’s total expense ratio, as well as each Master Portfolio’s/Fund’s actual management fee rate, to those of other funds in the corresponding Fund’s Lipper category. The total expense ratio represents a fund’s total net operating expenses, including any 12b-1 or non 12b-1 service fees. The total expense ratio gives effect to any expense reimbursements or fee waivers that benefit a fund, and the actual management fee rate gives effect to any management fee reimbursements or waivers that benefit a fund. The Board considered the services provided and the fees charged by BlackRock and its affiliates to other types of clients with similar investment mandates, as applicable, including institutional accounts.

The Board received and reviewed statements relating to BlackRock’s financial condition. The Board was also provided with a profitability analysis that detailed the revenues earned and the expenses incurred by BlackRock for services provided to the Master Portfolios and the Funds. The Board reviewed BlackRock’s profitability with respect to each Master Portfolio and Fund, as applicable, and other funds the Board currently oversees for the year ended December 31, 2013 compared to available aggregate profitability data provided for the two prior years. The Board reviewed BlackRock’s profitability with respect to certain other fund complexes managed by the Manager and/or its affiliates. The Board reviewed BlackRock’s assumptions and methodology of allocating expenses in the profitability analysis, noting the inherent limitations in allocating costs among various advisory products. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers and expense reimbursements by the Manager, the types of funds managed, precision of expense allocations and business mix. As a result, calculating and comparing profitability at individual fund levels is difficult.

The Board noted that, in general, individual fund or product line profitability of other advisors is not publicly available. The Board reviewed BlackRock’s overall operating margin, in general, compared to that of certain other publicly-traded asset management firms. The Board considered the differences between BlackRock and these other firms, including the contribution of technology at BlackRock, BlackRock’s expense management and the relative product mix.

In addition, the Board considered the cost of the services provided to the Master Portfolios and the Funds by BlackRock, and BlackRock’s and its affiliates’ profits relating to the management and distribution of the Master Portfolios and the Funds and the other funds advised by BlackRock and its affiliates. As part of its analysis, the Board reviewed BlackRock’s methodology in allocating its costs to the management of the Master Portfolios and the Funds. The Board also considered whether BlackRock has the financial resources necessary to attract and retain high quality investment management personnel to perform its obligations under the Advisory

66 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Disclosure of Investment Advisory Agreement (concluded)

Agreement and to continue to provide the high quality of services that is expected by the Board. The Board further considered factors including but not limited to BlackRock’s commitment of time, assumption of risk and liability profile in servicing the Master Portfolios and the Funds in contrast to what is required of BlackRock with respect to other products with similar investment objectives across the open-end fund, ETF, closed-end fund and institutional account product channels, as applicable.

The Board noted that Master International Index Series’/BlackRock International Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and BlackRock International Index Fund’s total expense ratio ranked in the first and second quartiles, respectively, relative to the Fund’s Expense Peers. The Board also noted that BlackRock has contractually agreed to a cap on Master International Index Series’ total expenses as a percentage of Master International Index Series’ average daily net assets and has contractually agreed to a cap on BlackRock International Index Fund’s total expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis. The Board noted that BlackRock proposed, and the Board agreed to, a contractual reduction of BlackRock International Index Fund’s administration fee and lowering the cap that limits BlackRock International Index Fund’s total expenses as a percentage of its average daily net assets to a specified amount, on a class-by-class basis. These reductions, which result in savings to shareholders, became effective March 21, 2014.

The Board noted that Master Small Cap Index Series’/BlackRock Small Cap Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and BlackRock Small Cap Index Fund’s total expense ratio ranked in the first and second quartiles, respectively, relative to the Fund’s Expense Peers. The Board also noted that BlackRock has contractually agreed to a cap on Master Small Cap Index Series’ total expenses as a percentage of Master Small Cap Index Series’ average daily net assets and has contractually agreed to a cap on BlackRock Small Cap Index Fund’s total expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis. The Board noted that BlackRock proposed, and the Board agreed to, a contractual reduction of BlackRock Small Cap Index Fund’s administration fee, and lowering the cap that limits BlackRock Small Cap Index Fund’s total expenses as a percentage of its average daily net assets to a specified amount, on a class-by-class basis. These reductions, which result in savings to shareholders, became effective March 21, 2014.

D. Economies of Scale: The Board, including the Independent Board Members, considered the extent to which economies of scale might be realized as the assets of the Master Portfolios and the Funds increase, as well as the existence of expense caps, as applicable. The Board also considered the extent to which the Master Portfolios and the Funds benefit from such economies and whether there should be changes in the advisory fee rate or breakpoint structure in order to enable the Master Portfolios and the Funds to participate in these economies of scale, for example through the use of breakpoints in the advisory fee based upon the asset level of the Master Portfolios. In their consideration, the Board Members took into account the existence of any expense caps and further considered the continuation and/or implementation, as applicable, of such caps.

E. Other Factors Deemed Relevant by the Board Members: The Board, including the Independent Board Members, also took into account other ancillary or “fall-out” benefits that BlackRock or its affiliates may derive from their respective relationships with the Master Portfolios and the Funds, both tangible and intangible, such as BlackRock’s ability to leverage its investment professionals who manage other portfolios and risk management personnel, an increase in BlackRock’s profile in the investment advisory community, and the engagement of BlackRock’s affiliates as service providers to the Master Portfolios and the Funds, including for administrative, distribution, securities lending and cash management services. The Board also considered BlackRock’s overall operations and its efforts to expand the scale of, and improve the quality of, its operations. The Board also noted that BlackRock may use and benefit from third party research obtained by soft dollars generated by certain registered fund transactions to assist in managing all or a number of its other client accounts. The Board further noted that it had considered the investment by BlackRock’s funds in ETFs without any offset against the management fees payable by the funds to BlackRock.

In connection with its consideration of the Advisory Agreement, the Board also received information regarding BlackRock’s brokerage and soft dollar practices. The Board received reports from BlackRock which included information on brokerage commissions and trade execution practices throughout the year.

The Board noted the competitive nature of the open-end fund marketplace, and that shareholders are able to redeem their Fund shares if they believe that the pertinent Fund’s and/or Master Portfolio’s fees and expenses are too high or if they are dissatisfied with the performance of the Fund.

Conclusion

The Board of the Master LLC, including all the Independent Board Members, approved the continuation of the Advisory Agreement between the Manager and the Master LLC, with respect to each Master Portfolio, for a one-year term ending June 30, 2015. Based upon its evaluation of all of the aforementioned factors in their totality, the Board of the Master LLC, including the Independent Board Members, was satisfied that the terms of the Advisory Agreement were fair and reasonable and in the best interest of each Master Portfolio and its shareholders. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Advisory Agreement with respect to each Master Portfolio and found the Advisory Agreement to be satisfactory. In arriving at its decision to approve the Advisory Agreement, the Board of the Master LLC did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and different Board Members may have attributed different weights to the various factors considered. The Independent Board Members were also assisted by the advice of independent legal counsel in making this determination. The contractual fee arrangements for the Master Portfolios reflect the results of several years of review by the Board Members and predecessor Board Members, and discussions between such Board Members (and predecessor Board Members) and BlackRock. As a result, the Board Members’ conclusions may be based in part on their consideration of these arrangements in prior years.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 67

Officers and Directors

Ronald W. Forbes, Co-Chairman of the Board and Director

Rodney D. Johnson, Co-Chairman of the Board and Director

Paul L. Audet, Director

David O. Beim, Director

Frank J. Fabozzi, Director

Henry Gabbay, Director

Dr. Matina S. Horner, Director

Herbert I. London, Director

Ian A. MacKinnon, Director

Cynthia A. Montgomery, Director

Joseph P. Platt, Director

Robert C. Robb, Jr., Director

Toby Rosenblatt, Director

Kenneth L. Urish, Director

Frederick W. Winter, Director

John M. Perlowski, President and Chief Executive Officer

Brendan Kyne, Vice President

Neal Andrews, Chief Financial Officer

Jay Fife, Treasurer

Charles Park, Chief Compliance Officer and Anti-Money Laundering Officer

Benjamin Archibald, Secretary

Effective May 30, 2014, Brian Kindelan resigned as Chief Compliance Officer and Anti-Money Laundering Officer of the Funds and Charles Park became Chief Compliance Officer and Anti-Money Laundering Officer of the Funds. Mr. Park joined BlackRock in 2009 and is the current Chief Compliance Officer of the BlackRock iShares exchange traded funds.

Investment Advisor BlackRock Advisors, LLC Wilmington, DE 19809	Custodians JP Morgan Chase,  N.A.1 Brooklyn, NY 11245 State Street Bank and Trust Company2 Boston, MA 02110	Transfer Agent BNY Mellon Investment Servicing (US) Inc. Wilmington, DE 19809	Legal Counsel Sidley Austin LLP New York, NY 10019	Address of the Funds 100 Bellevue Parkway Wilmington, DE 19809
Sub-Advisor BlackRock Investment Management, LLC Princeton, NJ 08540	Accounting Agent State Street Bank and Trust Company Boston, MA 02110	Distributor BlackRock Investments, LLC New York, NY 10022	Independent Registered Public Accounting Firm Deloitte & Touche LLP Boston, MA 02116

¹  For International Index Fund.

²  For Small Cap Index Fund.

68 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

Additional Information

General Information

Electronic Delivery

Electronic copies of most financial reports and prospectuses are available on the Funds’ website or shareholders can sign up for e-mail notifications of quarterly statements, annual and semi-annual reports and prospectuses by enrolling in the Funds’ electronic delivery program.

To enroll:

Shareholders Who Hold Accounts with Investment Advisors, Banks or Brokerages:

Please contact your financial advisor. Please note that not all investment advisors, banks or brokerages may offer this service.

Shareholders Who Hold Accounts Directly with BlackRock:

1) Access the BlackRock website at http://www.blackrock.com/edelivery

2) Select “eDelivery” under the “More Information” section

3) Log into your account

Householding

The Funds will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Funds at (800) 441-7762.

Availability of Quarterly Schedule of Investments

The Funds/Series file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’/Series’ Forms N-Q are available on the SEC’s website at http://www.sec.gov and may also be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on how to access documents on the SEC’s website without charge may be obtained by calling (800) SEC-0330. The Funds’/Series’ Forms N-Q may also be obtained upon request and without charge by calling (800) 441-7762.

Availability of Proxy Voting Policies and Procedures

A description of the policies and procedures that the Funds/Series use to determine how to vote proxies relating to portfolio securities is available (1) without charge, upon request, by calling (800) 441-7762; (2) at http://www.blackrock.com; and (3) on the SEC’s website at http://www.sec.gov.

Availability of Proxy Voting Record

Information about how the Funds/Series voted proxies relating to securities held in the Funds’/Series’ portfolio during the most recent 12-month period ended June 30 is available upon request and without charge (1) at http://www.blackrock.com or by calling (800) 441-7762 and (2) on the SEC’s website at http://www.sec.gov.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 69

Additional Information (concluded)

Shareholder Privileges

Account Information

Call us at (800) 441-7762 from 8:00 AM to 6:00 PM EST on any business day to get information about your account balances, recent transactions and share prices. You can also reach us on the Web at http://www.blackrock.com/funds.

Automatic Investment Plans

Investor Class shareholders who want to invest regularly can arrange to have $50 or more automatically deducted from their checking or savings account and invested in any of the BlackRock funds.

Systematic Withdrawal Plans

Investor Class shareholders can establish a systematic withdrawal plan and receive periodic payments of $50 or more from their BlackRock funds, as long as their account balance is at least $10,000.

Retirement Plans

Shareholders may make investments in conjunction with Traditional, Rollover, Roth, Coverdell, Simple IRAs, SEP IRAs and 403(b) Plans.

BlackRock Privacy Principles

BlackRock is committed to maintaining the privacy of its current and former fund investors and individual clients (collectively, “Clients”) and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information BlackRock collects, how we protect that information and why in certain cases we share such information with select parties.

If you are located in a jurisdiction where specific laws, rules or regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will comply with those specific laws, rules or regulations.

BlackRock obtains or verifies personal non-public information from and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from a consumer reporting agency; and (iv) from visits to our websites.

BlackRock does not sell or disclose to non-affiliated third parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory requests or to service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it only for its intended purpose.

We may share information with our affiliates to service your account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including procedures relating to the proper storage and disposal of such information.

70 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014

A World-Class Mutual Fund Family

BlackRock offers a diverse lineup of open-end mutual funds crossing all investment styles and managed by experts in equity, fixed income and tax-exempt investing.

Equity Funds

BlackRock ACWI ex-US Index Fund

BlackRock All-Cap Energy & Resources Portfolio

BlackRock Basic Value Fund

BlackRock Capital Appreciation Fund

BlackRock Commodity Strategies Fund

BlackRock Disciplined Small Cap Core Fund

BlackRock Emerging Markets Dividend Fund

BlackRock Emerging Markets Fund

BlackRock Emerging Markets Long/Short Equity Fund

BlackRock Energy & Resources Portfolio

BlackRock Equity Dividend Fund

BlackRock EuroFund

BlackRock Flexible Equity Fund

BlackRock Focus Growth Fund

BlackRock Global Dividend Portfolio

BlackRock Global Long/Short Equity Fund

BlackRock Global Opportunities Portfolio

BlackRock Global SmallCap Fund

BlackRock Health Sciences Opportunities Portfolio

BlackRock International Fund

BlackRock International Index Fund

BlackRock International Opportunities Portfolio

BlackRock Large Cap Core Fund

BlackRock Large Cap Core Plus Fund

BlackRock Large Cap Growth Fund

BlackRock Large Cap Value Fund

BlackRock Latin America Fund

BlackRock Long-Horizon Equity Fund

BlackRock Mid-Cap Growth Equity Portfolio

BlackRock Mid Cap Value Opportunities Fund

BlackRock Natural Resources Trust

BlackRock Pacific Fund

BlackRock Real Estate Securities Fund

BlackRock Russell 1000^® Index Fund

BlackRock Science & Technology Opportunities Portfolio

BlackRock Small Cap Growth Equity Portfolio

BlackRock Small Cap Growth Fund II

BlackRock Small Cap Index Fund

BlackRock S&P 500 Stock Fund

BlackRock U.S. Opportunities Portfolio

BlackRock Value Opportunities Fund

Taxable Fixed Income Funds

BlackRock Bond Index Fund

BlackRock Core Bond Portfolio

BlackRock CoreAlpha Bond Fund

BlackRock CoRI Funds

2015

2017

2019

2021

2023

BlackRock Emerging Markets Flexible Dynamic Bond Portfolio

BlackRock Floating Rate Income Portfolio

BlackRock Global Long/Short Credit Fund

BlackRock GNMA Portfolio

BlackRock High Yield Bond Portfolio

BlackRock Inflation Protected Bond Portfolio

BlackRock Investment Grade Bond Portfolio

BlackRock Low Duration Bond Portfolio

BlackRock Secured Credit Portfolio

BlackRock Short Obligations Fund

BlackRock Short-Term Treasury Fund

BlackRock Strategic Income Opportunities Portfolio

BlackRock Total Return Fund

BlackRock U.S. Government Bond Portfolio

BlackRock U.S. Mortgage Portfolio

BlackRock Ultra-Short Obligations Fund

BlackRock World Income Fund

Municipal Fixed Income Funds

BlackRock California Municipal Bond Fund

BlackRock High Yield Municipal Fund

BlackRock National Municipal Fund

BlackRock New Jersey Municipal Bond Fund

BlackRock New York Municipal Bond Fund

BlackRock Pennsylvania Municipal Bond Fund

BlackRock Short-Term Municipal Fund

BlackRock Strategic Municipal Opportunities Fund

Mixed Asset Funds

BlackRock Balanced Capital Fund	LifePath® Active  Portfolios			LifePath® Index  Portfolios
BlackRock Emerging Market Allocation Portfolio		2015	2040		Retirement	2040
BlackRock Global Allocation Fund		2020	2045		2020	2045
BlackRock Managed Volatility Portfolio		2025	2050		2025	2050
BlackRock Multi-Asset Income Portfolio		2030	2055		2030	2055
BlackRock Multi-Asset Real Return Fund		2035			2035
BlackRock Multi-Manager Alternatives Fund
BlackRock Strategic Risk Allocation Fund
BlackRock Prepared Portfolios	LifePath®  Portfolios
Conservative Prepared Portfolio		Retirement	2040
Moderate Prepared Portfolio		2020	2045
Growth Prepared Portfolio		2025	2050
Aggressive Growth Prepared Portfolio		2030	2055
		2035

BlackRock mutual funds are currently distributed by BlackRock Investments, LLC. You should consider the investment objectives, risks, charges and expenses of the funds under consideration carefully before investing. Each fund’s prospectus contains this and other information and is available at www.blackrock.com or by calling (800) 441-7762 or from your financial advisor. The prospectus should be read carefully before investing.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2014 71

This report is intended for existing shareholders. It is not authorized for use as an offer of sale or a solicitation of an offer to buy shares of a Fund unless preceded or accompanied by that Fund’s current prospectus. Past performance results shown in this report should not be considered a representation of future performance. Investment returns and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Statements and other information herein are as dated and are subject to change.

Index2-6/14-SAR

Item 2 – Code of Ethics – Not Applicable to this semi-annual report

Item 3 – Audit Committee Financial Expert – Not Applicable to this semi-annual report

Item 4 – Principal Accountant Fees and Services – Not Applicable to this semi-annual report

Item 5 – Audit Committee of Listed Registrants – Not Applicable

Item 6 – Investments

(a) The registrants’ Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this Form.

(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

Item 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable

Item 8 – Portfolio Managers of Closed-End Management Investment Companies – Not Applicable

Item 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable

Item 10 –  Submission of Matters to a Vote of Security Holders –There have been no material changes to these procedures.

Item 11 –  Controls and Procedures

(a) – The registrants’ principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants’ disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) – There were no changes in the registrants’ internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrants’ internal control over financial reporting.

Item 12 –  Exhibits attached hereto

(a)(1) – Code of Ethics – Not Applicable to this semi-annual report

(a)(2) – Certifications – Attached hereto

(a)(3) – Not Applicable

(b) – Certifications – Attached hereto

2

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, each registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BlackRock Index Funds, Inc. and Quantitative Master Series LLC
By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC

Date: August 25, 2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of each registrant and in the capacities and on the dates indicated.

By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC

Date: August 25, 2014

By:	/s/ Neal J. Andrews
	Neal J. Andrews
	Chief Financial Officer (principal financial officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC

Date: August 25, 2014

3