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 811-07885

Name of Fund: BlackRock Index Funds, Inc.

iShares MSCI EAFE International Index Fund (Formerly BlackRock International Index Fund)

iShares Russell 2000 Small-Cap Index Fund (Formerly BlackRock Small Cap Index Fund)

                           Quantitative Master Series LLC

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: 12/31/2017

Date of reporting period: 06/30/2017

Item 1 – Report to Stockholders

JUNE 30, 2017

  SEMI-ANNUAL REPORT (UNAUDITED)  

BlackRock Index Funds, Inc.

^Ø   iShares MSCI EAFE International Index Fund

^Ø   iShares Russell 2000 Small-Cap Index Fund

Not FDIC Insured • May Lose Value • No Bank Guarantee

The Markets in Review

Dear Shareholder,

In the 12 months ended June 30, 2017, risk assets, such as stocks and high-yield bonds, delivered strong performance. These markets showed great resilience during a period with big surprises, including the aftermath of the U.K.’s vote to leave the European Union and the outcome of the U.S. presidential election, which brought only brief spikes in equity market volatility. However, interest rates rose, which worked against high-quality assets with more interest rate sensitivity. Aside from the shortest-term Treasury bills, most U.S. Treasuries posted negative returns, as rising energy prices, modest wage increases and steady job growth led to expectations of higher inflation and anticipation of interest rate increases by the U.S. Federal Reserve (the “Fed”).

The global reflationary theme — rising nominal growth, wages and inflation — was the dominant driver of asset returns during the period, outweighing significant political upheavals and economic uncertainty. Reflationary expectations accelerated after the U.S. election in November 2016 and continued into the beginning of 2017, stoked by expectations that the new administration’s policies would provide an extra boost to U.S. growth.

The Fed has responded to these positive developments by increasing interest rates three times in the last six months, setting expectations for additional interest rate increases and moving toward normalizing monetary policy. For its part, the European Central Bank also began to signal its intent to wind down asset purchases and begin the long move toward policy normalization, contingent upon further improvement in economic growth.

In recent months, growing skepticism about the near-term likelihood of significant U.S. tax reform and infrastructure spending has tempered enthusiasm around the reflation trade. Similarly, renewed concern about oversupply has weighed on energy prices. Nonetheless, financial markets — and to an extent the Fed — have adopted a “wait-and-see” approach to the economic data and potential fiscal stimulus. Although uncertainty has persisted, benign credit conditions, modest inflation and the outlook for economic growth have kept markets relatively tranquil.

In the fifth edition of our Global Investor Pulse Survey, we heard from 28,000 individuals across 18 countries, including more than 4,000 respondents from the United States. While retirement remains the single most important issue for American investors, only a third of respondents feel confident that they will have enough retirement income, and nearly 40% of respondents have yet to begin saving for retirement. We encourage you to talk with your financial advisor and visit blackrock.com for further insight about investing in today’s markets.

Sincerely,

Rob Kapito

President, BlackRock Advisors, LLC

Rob Kapito

President, BlackRock Advisors, LLC

Total Returns as of June 30, 2017
	6-month			12-month
U.S. large cap equities (S&P 500® Index)		9.34	%		17.90	%
U.S. small cap equities (Russell 2000® Index)		4.99			24.60
International equities (MSCI Europe, Australasia, Far East Index)		13.81			20.27
Emerging market equities (MSCI Emerging Markets Index)		18.43			23.75
3-month Treasury bills (BofA Merrill Lynch 3-Month U.S. Treasury Bill Index)		0.31			0.49
U.S. Treasury securities (BofA Merrill Lynch 10-Year U.S. Treasury Index)		2.08			(5.58	)
U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)		2.27			(0.31	)
Tax-exempt municipal bonds (S&P Municipal Bond Index)		3.26			(0.28	)
U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)		4.92			12.69
Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

2 THIS PAGE NOT PART OF YOUR FUND REPORT

Table of Contents

	Page
The Markets in Review		2
Semi-Annual Report:
Fund Summaries		4
About Fund Performance		9
Disclosure of Expenses		9
Derivative Financial Instruments		9
Fund Financial Statements:
Schedule of Investments		10
Statements of Assets and Liabilities		21
Statements of Operations		22
Statements of Changes in Net Assets		23
Fund Financial Highlights		24
Fund Notes to Financial Statements		30
Series Portfolio Information		40
Series Financial Statements:
Schedule of Investments		41
Statement of Assets and Liabilities		61
Statement of Operations		62
Statements of Changes in Net Assets		63
Series Financial Highlights		63
Series Notes to Financial Statements		64
Disclosure of Investment Advisory Agreement		71
Disclosure of Sub-Advisory Agreement		76
Officers and Directors		77
Additional Information		78

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 3

Fund Summary as of June 30, 2017 iShares MSCI EAFE International Index Fund

Investment Objective

iShares MSCI EAFE International Index Fund’s (the “Fund”) 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.

On February 24, 2017, the Board approved a proposal to change the name of BlackRock International Index Fund to iShares MSCI EAFE International Index Fund, which was effective on June 19, 2017.

Portfolio Management Commentary

How did the Fund perform?

• For the six-month period ended June 30, 2017, the Fund’s Institutional Shares returned 14.66%, Investor A Shares returned 14.47% and Class K Shares returned 14.64%. The benchmark MSCI EAFE Index returned 13.81% 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.

Describe the market environment.

• The year started with the reflation trade spreading beyond the United States into developed markets in the first quarter of the year. Notable beneficiaries included countries such as Japan and parts of the Eurozone that tend to have a higher correlation to global growth.

• Japanese equities, which make up 23% of the MSCI EAFE Index, posted solid gains of 4.61% in the first quarter. Some success can be attributed to Japanese companies having a higher exposure to global growth, which has been trending upward over the past few quarters. Fourth-quarter earnings reports were among the strongest in Japan in nearly a decade. Continued yield curve management from the central bank, better corporate governance and domestic investor buying have also been supportive of Japanese stocks.

• In the case of Europe, economic data has been improving, particularly in large export-driven economies like Germany, where stocks climbed 8.44% during the first quarter. Additionally, inflation in the region has started to stabilize, although not a major reversal, with headline Consumer Price Index hitting 1.8% year-over-year and core inflation firming to 0.9% year-over-year in January. Political anxiety over elections in the Netherlands and France in the first half of the year, as well as fears over the European Central Bank (“ECB”) tapering its asset purchase program too soon, have weighed on investor sentiment to some extent.

• In the U.K., Prime Minster Theresa May triggered article 50 at the end of March, marking the start of the two-year period in which the U.K. must leave the European Union. While the initial impact of Brexit appeared to be inconsequential, recent economic data has shown the first signs of stress. January retail sales and average earnings missed expectations. Furthermore, a continued weakening of the pound sterling could continue to squeeze consumers further through increasing costs of imports. In such an environment, large-cap multinationals listed on the London Stock Exchange would likely remain better positioned than domestically focused small caps. The FTSE 100 Index hit a new record high against currency weakness.

• Australia also experienced a positive first quarter, rising 10.99%, as the country benefited from global reflation, rising metal prices, and strong domestic and Chinese economic indicators.

• Although underperforming the broader EAFE index, Japan’s 5.1% quarterly return contributed the most to the index’s second quarter total return, given the country’s high weighting. The Japanese yen was relatively volatile throughout the period, as the Bank of Japan made no changes to their policy, but revised upward their assessment of economic prospects. Japan’s strengthening economy translated into strong corporate earnings growth and positive earnings revisions.

• Investor interest accelerated in European equities, leading to solid, broad-based returns across the region. The defeat of anti-European Union populists in France and the Netherlands diminished political risk for the region overall. This allowed investors to focus on the strongest European earnings season in seven years amid both a strengthening regional economy and global economy. French President Emmanuel Macron’s victory was positively felt across the continent and unsurprisingly had the largest impact within France, which returned 10.2%, making it the second largest contributor to the index. Other European nations that outperformed the EAFE index and contributed at least 25 basis points to the EAFE indexes’ total return were Switzerland, Germany, Spain, Denmark and Sweden. Gains in Eurozone equities were capped, as some investors looked cautiously at ECB developments for signs of monetary tightening. The U.K. did experience some volatility ahead and in the immediate wake of the snap election in June, but the country returned a respectable 6.1% in the second quarter.

• The largest detractor from the index’s total return was Australia, which moved roughly 2% lower in the second quarter.

• From a sector perspective, consumer staples (+7.87%) had the strongest return in the second quarter of the MSCI EAFE Index (in USD). Increases were seen across most sectors, with notable results in utilities (+7.44%) and financials (+7.40%). In contrast, energy (-0.47%) posted the only negative returns for the quarter.

Describe recent portfolio activity.

• During the six-month period, as changes were made to the composition of the MSCI EAFE Index, the Fund purchased and sold securities to maintain its objective of replicating the risks and return of the benchmark index.

Describe portfolio positioning at period end.

• The Fund 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, 2017

iShares MSCI EAFE 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  Prior to August 1, 2016, the Fund invested all of its assets in Master International Index Series, a series of Quantative Master Series, LLC. Master International Index Series invested 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  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, 2017

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		14.66	%		19.85	%		8.39	%		0.75	%
Investor A		14.47			19.54			8.10			0.49
Class K		14.64			19.88			8.42			0.79
MSCI EAFE Index		13.81			20.27			8.69			1.03

⁴  See “About Fund Performance” on page 9 for a detailed description of share classes, including any related fees.

Past performance is not indicative of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

	Actual						Hypothetical6
	Beginning Account Value January 1, 2017		Ending Account Value June 30, 2017		Expenses Paid During the Period5		Beginning Account Value January 1, 2017		Ending Account Value June 30, 2017		Expenses Paid During the Period5		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,146.60	$	0.37	$	1,000.00	$	1,024.45	$	0.35		0.07%
Investor A	$	1,000.00	$	1,144.70	$	1.81	$	1,000.00	$	1,023.11	$	1.71		0.34%
Class K	$	1,000.00	$	1,146.40	$	0.27	$	1,000.00	$	1,024.55	$	0.25		0.05%

⁵ 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).

⁶ Hypothetical 5% annual return before expenses is calculated by prorating the number of days in the most recent fiscal half year divided by 365.

See “Disclosure of Expenses” on page 9 for further information on how expenses were calculated.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 5

iShares MSCI EAFE International Index Fund

Portfolio Information

Ten Largest Holdings	Percent of Net Assets
iShares MSCI EAFE ETF		2	%
Nestlé SA, Registered Shares		2
Novartis AG, Registered Shares		1
HSBC Holdings PLC		1
Roche Holding AG		1
Toyota Motor Corp.		1
British American Tobacco PLC		1
Royal Dutch Shell PLC, Class A		1
TOTAL SA		1
BP PLC		1

Geographic Allocation	Percent of Net Assets
Japan		23	%
United Kingdom		15
France		10
Germany		9
Switzerland		9
Australia		7
United States		7
Netherlands		5
Hong Kong		3
Spain		3
Sweden		3
Italy		2
Denmark		2
Other1		5
Liabilities in Excess of Other Assets		(3	)

¹  Includes holdings within countries that are 1% or less of net assets. Please refer to the Schedule of Investments for such countries.

6 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Fund Summary as of June 30, 2017 iShares Russell 2000 Small-Cap Index  Fund

Investment Objective

iShares Russell 2000 Small-Cap Index Fund’s (the “Fund”) investment objective is to match the performance of the Russell 2000^® Index as closely as possible before the deduction of Fund expenses.

On February 24, 2017, the Board approved a proposal to change the name of BlackRock Small Cap Index Fund to iShares Russell 2000 Small-Cap Index Fund, which was effective on June 19, 2017.

Portfolio Management Commentary

How did the Fund perform?

• For the six-month period ended June 30, 2017, the Fund’s Institutional Shares returned 4.95%, Investor A Shares returned 4.84% and Class K Shares returned 5.00%. The benchmark Russell 2000^® Index returned 4.99% for the same period.

• 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.

• The reflation trade in the United States continued to gain steam in the first quarter of the year. Macro data highlighted continued economic growth and a strengthening labor market, which supported the Fed’s decision to increase the federal funds rate by 25 basis points (0.25%) in March, marking the second rate hike in the past six months. The Fed’s summary of economic projections indicated that they will maintain a gradual pace of tightening should current economic trends continue.

• Expectations of the new administration’s policies also boosted market sentiment, sending several U.S. equity indices to record highs. The inauguration of President Trump in late January stoked risk-on appetite, as pledges of tax relief and increased fiscal spending were supportive of cyclical stocks. However, the final weeks of the quarter saw some profit taking as investor optimism waned after the failed attempt to repeal the Affordable Care Act called into question whether the new administration will be able to push through further reforms in 2017. Despite these setbacks, U.S. equities finished the quarter strong and the 10-year Treasury yield added 31 basis points in the first quarter.

• The health care sector contributed to the Russell 2000^® Index’s return in the second quarter. The sector benefited from positive investor sentiment on industry prospects following the House passing the Republican’s healthcare reform bill, as well as a leaked draft of an executive order relaxing drug price regulations being made public. Comparatively, the

energy sector was the largest detractor. Surging U.S. production levels and swelling inventories overshadowed efforts made by the Organization of Petroleum Exporting Countries (“OPEC”) to stabilize crude oil. OPEC’s agreement in late May to extend the duration of their crude output cut was unable to support the market – the price of a barrel of West Texas Intermediate crude oil fell 8.9% in the quarter, which weighed particularly heavily on upstream energy companies.

• Political risk was a headwind to U.S. equities. President Trump’s firing of FBI Director James Comey on May 9 and the subsequent developments regarding the investigation of pre-election correspondence between Trump administration members and Russian officials was an enduring source of negative market sentiment.

• Although the Fed continued their monetary policy normalization, the yield on the 10-year U.S. Treasury compressed by nine basis points to 2.31% in the second quarter. The Fed increased the federal funds rate by 25 basis points at the June meeting to between 1% - 1.25%, citing strength in the labor market and business spending, despite relatively weak inflation trends throughout the second quarter.

• The strongest returns in the Russell 2000^® Index as of the second quarter came from telecommunication services (+15.28%). Increases were seen across most sectors, with notable results in health care (+8.93%) and information technology (+4.19%). In contrast, negative results came from energy (-20.05%) and consumer staples (-4.48%).

Describe recent portfolio activity.

• 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.

• 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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 7

iShares Russell 2000 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  An unmanaged index that 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, 2017

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		4.95	%		24.50	%		13.70	%		6.75	%
Investor A		4.84			24.22			13.41			6.48
Class K		5.00			24.55			13.74			6.81
Russell 2000® Index		4.99			24.60			13.70			6.92

⁴  See “About Fund Performance” on page 9 for a detailed description of share classes, including related fees, if any.

Past performance is not indicative of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

	Actual						Hypothetical6
	Beginning Account Value January 1, 2017		Ending Account Value June 30, 2017		Expenses Paid During the Period5		Beginning Account Value January 1, 2017		Ending Account Value June 30, 2017		Expenses Paid During the Period5		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,049.50	$	0.76	$	1,000.00	$	1,024.05	$	0.75		0.10%
Investor A	$	1,000.00	$	1,048.40	$	2.18	$	1,000.00	$	1,022.66	$	2.16		0.37%
Class K	$	1,000.00	$	1,050.00	$	0.61	$	1,000.00	$	1,024.20	$	0.60		0.07%

⁵  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.

⁶  Hypothetical 5% annual return before expenses is calculated by prorating the number of days in the most recent fiscal half year divided by 365.

See “Disclosure of Expenses” on page 9 for further information on how expenses were calculated.

8 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

About Fund Performance

• 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.

• 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. These shares are generally available through financial intermediaries.

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 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. Distributions paid to each class of shares will vary because of the different levels of service, distribution and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders.

BlackRock Advisors, LLC (“BAL” or the “Manager and/or Administrator”), each Fund’s investment adviser and/or administrator, has contractually agreed to waive and/or reimburse a portion of each Fund’s expenses. Without such waiver and/or reimbursement, each Fund’s performance would have been lower. The Manager and/or Administrator is under no obligation to continue waiving and/or reimbursing its fees after the applicable termination date of such agreement. See Note 4 of the Notes to Financial Statements for additional information on waivers and/or reimbursements.

Disclosure of Expenses

Shareholders of these Funds may incur the following charges: (a) transactional expenses, such as sales charges; and (b) operating expenses, including investment advisory fees, administration fees, service fees, including 12b-1 fees, acquired fund fees and expenses 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, 2017 and held through June 30, 2017) 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 shareholder reports of other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect 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

International Index and the Series may invest in various derivative financial instruments. These instruments are used to obtain exposure to a security, commodity, index, market, and/or other asset without owning or taking physical custody of securities, commodities and/or other referenced assets or to manage market, equity, credit, interest rate, foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage and 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 instrument.

International Index’s and the Series’ successful use of a derivative financial instrument depends on the investment adviser’s ability to predict pertinent market movements accurately, which cannot be assured. The use of these instruments may result in losses greater than if they had not been used, may limit the amount of appreciation International Index or the Series can realize on an investment and/or may result in lower distributions paid to shareholders. International Index’s and the Series’ investments in these instruments, if any, are discussed in detail in the Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 9

Schedule of Investments June 30, 2017 (Unaudited) iShares MSCI EAFE International Index Fund (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Australia — 6.8%
AGL Energy Ltd.		410,999	$	8,054,132
Alumina Ltd.		1,314,863		1,936,675
Amcor Ltd.		702,067		8,746,164
AMP Ltd.		1,840,787		7,345,164
APA Group (a)		650,553		4,583,936
Aristocrat Leisure Ltd.		332,193		5,759,211
ASX Ltd.		110,254		4,542,577
Aurizon Holdings Ltd.		1,242,881		5,119,323
AusNet Services		1,047,249		1,396,334
Australia & New Zealand Banking Group Ltd.		1,755,270		38,741,745
Bank of Queensland Ltd.		245,465		2,159,650
Bendigo & Adelaide Bank Ltd.		285,496		2,430,307
BGP Holdings PLC (b)		783,183		9
BHP Billiton Ltd.		1,926,426		34,336,430
BlueScope Steel Ltd.		339,031		3,432,368
Boral Ltd.		656,091		3,503,015
Brambles Ltd.		957,122		7,156,963
Caltex Australia Ltd.		169,356		4,112,518
Challenger Ltd.		311,538		3,194,972
CIMIC Group Ltd.		52,162		1,556,402
Coca-Cola Amatil Ltd.		292,360		2,074,632
Cochlear Ltd.		32,998		3,941,191
Commonwealth Bank of Australia		1,027,950		65,394,328
Computershare Ltd.		250,018		2,717,126
Crown Resorts Ltd.		217,122		2,049,198
CSL Ltd.		269,666		28,619,582
Dexus		630,677		4,591,698
Domino’s Pizza Enterprises Ltd.		32,528		1,301,630
Flight Centre Travel Group Ltd.		32,208		948,047
Fortescue Metals Group Ltd.		893,564		3,577,019
Goodman Group		1,093,661		6,609,848
GPT Group		1,162,201		4,274,605
Harvey Norman Holdings Ltd.		286,891		842,452
Healthscope Ltd.		1,359,653		2,310,721
Incitec Pivot Ltd.		894,971		2,347,482
Insurance Australia Group Ltd.		1,438,380		7,496,324
Lend Lease Group (a)		321,125		4,109,949
Macquarie Group Ltd.		191,582		13,028,307
Medibank Pvt Ltd.		1,672,789		3,601,721
Mirvac Group		2,111,147		3,452,236
National Australia Bank Ltd.		1,598,510		36,363,614
Newcrest Mining Ltd.		472,697		7,336,139
Oil Search Ltd.		789,444		4,133,989
Orica Ltd.		219,675		3,490,846
Origin Energy Ltd. (c)		1,028,805		5,424,586
Qantas Airways Ltd.		264,089		1,160,815
QBE Insurance Group Ltd.		830,466		7,537,704
Ramsay Health Care Ltd.		87,723		4,963,525
REA Group Ltd.		27,325		1,394,138
Rio Tinto Ltd.		259,330		12,603,071
Santos Ltd. (c)		998,044		2,321,283
Scentre Group		3,219,835		10,010,781
Seek Ltd.		180,428		2,344,753
Sonic Healthcare Ltd.		223,611		4,163,365
South32 Ltd.		3,204,109		6,598,881
Stockland		1,477,443		4,968,496
Suncorp Group Ltd.		772,186		8,795,200
Sydney Airport (a)		721,816		3,931,942
Tabcorp Holdings Ltd.		441,458		1,482,624
Tatts Group Ltd.		756,649		2,430,696
Telstra Corp. Ltd.		2,487,436		8,218,811

Common Stocks	Shares		Value
Australia (continued)
TPG Telecom Ltd.		196,036	$	858,838
Transurban Group (a)		1,209,460		11,015,034
Treasury Wine Estates Ltd.		419,412		4,241,070
Vicinity Centres		2,109,613		4,162,717
Wesfarmers Ltd.		679,539		20,953,582
Westfield Corp.		1,219,459		7,521,269
Westpac Banking Corp.		2,005,228		46,950,290
Woodside Petroleum Ltd.		449,156		10,303,211
Woolworths Ltd.		756,252		14,844,486
				571,921,747
Austria — 0.2%
Andritz AG		40,888		2,466,888
Erste Group Bank AG (c)		184,963		7,084,959
IMMOFINANZ AG (c)		2,702		6,181
OMV AG		86,273		4,481,245
Raiffeisen Bank International AG (c)		77,905		1,966,445
Voestalpine AG		71,852		3,349,005
				19,354,723
Belgium — 1.1%
Ageas		117,836		4,745,391
Anheuser-Busch InBev SA		454,055		50,149,674
Colruyt SA		39,052		2,056,818
Groupe Bruxelles Lambert SA		46,474		4,473,267
KBC Group NV		149,084		11,303,398
Proximus		88,550		3,099,194
Solvay SA		45,412		6,094,798
Telenet Group Holding NV (c)		28,644		1,804,426
UCB SA		79,200		5,447,080
Umicore SA		55,846		3,884,705
				93,058,751
Denmark — 1.7%
A.P. Moeller — Maersk A/S, Class A		2,262		4,316,112
A.P. Moeller — Maersk A/S, Class B		4,006		8,066,128
Carlsberg A/S, Class B		65,351		6,983,758
Chr Hansen Holding A/S		55,680		4,049,427
Coloplast A/S, Class B		68,271		5,706,454
Danske Bank A/S		440,404		16,943,692
DONG Energy A/S (d)		100,809		4,550,120
DSV A/S		108,734		6,678,888
Genmab A/S (c)		34,310		7,315,567
H Lundbeck A/S		37,521		2,106,323
ISS A/S		94,541		3,713,679
Novo Nordisk A/S, Class B		1,080,845		46,440,969
Novozymes A/S, Class B		144,182		6,307,832
Pandora A/S		69,194		6,457,504
TDC A/S		498,608		2,899,600
Tryg A/S		69,538		1,520,729
Vestas Wind Systems A/S		129,251		11,938,560
William Demant Holding A/S (c)		67,038		1,734,538
				147,729,880
Finland — 1.0%
Elisa OYJ		87,522		3,395,164
Fortum OYJ		257,260		4,037,344
Kone OYJ, Class B		198,833		10,115,641
Metso OYJ		80,623		2,797,445
Neste OYJ		82,649		3,261,406
Nokia OYJ		3,481,018		21,344,634
Nokian Renkaat OYJ		63,398		2,624,264

Portfolio Abbreviations

ADR	American Depositary Receipts	ETF	Exchange-Traded Fund	NOK	Norwegian Krone
CLP	Chilean Peso	FTSE	Financial Times Stock Exchange	OTC	Over-the-Counter
CVA	Certificaten Van Aandelen (Dutch Certificate)	MSCI	Morgan Stanley Capital International	REIT	Real Estate Investment Trust

See Notes to Financial Statements.

10 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Finland (continued)
Orion OYJ, Class B		63,173	$	4,035,540
Sampo OYJ, Class A		266,565		13,676,278
Stora Enso OYJ, Class R		357,592		4,620,823
UPM-Kymmene OYJ		316,838		9,034,540
Wartsila OYJ		89,962		5,320,118
				84,263,197
France — 9.8%
Accor SA		110,159		5,167,466
Aeroports de Paris		17,877		2,881,642
Air Liquide SA		233,048		28,803,781
Airbus SE		347,040		28,639,641
Alstom SA (c)		86,391		3,017,246
Arkema SA		40,097		4,282,027
AtoS SE		56,819		7,972,304
AXA SA		1,150,294		31,498,895
BNP Paribas SA		666,799		48,004,659
Bollore SA		612,124		2,783,209
Bouygues SA		132,219		5,570,415
Bureau Veritas SA		173,294		3,835,934
Capgemini SE		96,672		9,986,453
Carrefour SA		334,051		8,445,450
Casino Guichard-Perrachon SA		28,823		1,707,020
Christian Dior SE		6,811		1,947,518
Cie Generale des Etablissements Michelin		101,193		13,468,173
CNP Assurances		102,677		2,304,707
Compagnie de Saint-Gobain		297,405		15,882,921
Credit Agricole SA		673,043		10,841,611
Danone SA		352,506		26,458,231
Dassault Aviation SA		1,383		1,932,744
Dassault Systemes SA		80,334		7,205,221
Edenred		122,564		3,197,098
Eiffage SA		43,122		3,917,245
Electricite de France SA		332,815		3,606,035
Engie SA		1,029,772		15,543,105
Essilor International SA		122,037		15,524,656
Eurazeo		22,606		1,696,079
Eutelsat Communications SA		95,107		2,426,645
Fonciere Des Regions		16,684		1,547,586
Gecina SA		24,523		3,849,086
Groupe Eurotunnel SE		290,043		3,094,617
Hermes International		12,518		6,183,587
ICADE		24,757		2,076,892
Iliad SA		15,996		3,780,306
Imerys SA		26,700		2,324,075
Ingenico Group SA		36,254		3,287,779
Ipsen SA		22,824		3,123,185
JCDecaux SA		40,659		1,333,069
Kering		45,121		15,364,229
Klepierre		121,108		4,963,703
L’Oreal SA		148,933		31,054,667
Lagardere SCA		73,983		2,334,474
Legrand SA		158,628		11,085,146
LVMH Moet Hennessy Louis Vuitton SE		165,754		41,447,671
Natixis SA		528,392		3,546,941
Orange SA		1,174,515		18,692,298
Pernod Ricard SA		127,404		17,060,305
Peugeot SA		290,055		5,780,695
Publicis Groupe SA		114,819		8,557,804
Remy Cointreau SA		12,275		1,430,817
Renault SA		105,741		9,566,945
Rexel SA		172,029		2,811,349
Safran SA		187,220		17,169,236
Sanofi		692,011		66,308,428
Schneider Electric SE		335,324		25,769,469
SCOR SE		99,218		3,941,711
SEB SA		12,202		2,190,118

Common Stocks	Shares		Value
France (continued)
SES SA		234,018	$	5,482,314
Societe BIC SA		15,967		1,895,944
Societe Generale SA		455,590		24,567,981
Sodexo SA		53,006		6,850,619
Suez		224,884		4,164,051
Thales SA		64,948		6,989,979
TOTAL SA		1,400,777		69,544,335
Unibail-Rodamco SE		58,152		14,653,218
Valeo SA		142,968		9,618,724
Veolia Environnement SA		286,064		6,052,131
Vinci SA		299,442		25,542,840
Vivendi SA		610,183		13,587,228
Wendel SA		19,452		2,877,136
Zodiac Aerospace		126,026		3,423,921
				833,474,740
Germany — 9.0%
adidas AG		112,404		21,553,320
Allianz SE, Registered Shares		271,490		53,576,369
Axel Springer SE		26,641		1,602,483
BASF SE		547,466		50,809,774
Bayer AG, Registered Shares		492,728		63,862,498
Bayerische Motoren Werke AG		199,732		18,576,523
Bayerische Motoren Werke AG, Preference Shares		28,815		2,377,968
Beiersdorf AG		62,032		6,524,618
Brenntag AG		98,502		5,712,537
Commerzbank AG (c)		645,518		7,708,082
Continental AG		65,661		14,204,425
Covestro AG (d)		67,165		4,869,061
Daimler AG, Registered Shares		572,440		41,518,296
Deutsche Bank AG, Registered Shares		1,221,685		21,721,296
Deutsche Boerse AG		113,569		11,996,304
Deutsche Lufthansa AG, Registered Shares		142,858		3,255,667
Deutsche Post AG, Registered Shares		588,588		22,094,560
Deutsche Telekom AG, Registered Shares		1,937,522		34,923,749
Deutsche Wohnen AG, Bearer Shares		216,647		8,301,345
E.ON SE		1,323,784		12,496,467
Evonik Industries AG		101,277		3,241,444
Fraport AG Frankfurt Airport Services Worldwide		23,700		2,097,274
Fresenius Medical Care AG & Co. KGaA		129,394		12,486,079
Fresenius SE & Co. KGaA		248,610		21,343,880
Fuchs Petrolub SE, Preference Shares		40,879		2,228,026
GEA Group AG		117,232		4,813,669
Hannover Rueck SE		34,306		4,120,614
HeidelbergCement AG		90,776		8,799,716
Henkel AG & Co. KGaA		63,007		7,632,305
Henkel AG & Co. KGaA, Preference Shares		106,834		14,731,735
Hochtief AG		10,622		1,949,973
HUGO BOSS AG		35,346		2,477,837
Infineon Technologies AG		679,449		14,431,875
Innogy SE (d)		89,131		3,507,878
K+S AG, Registered Shares		107,232		2,754,226
Lanxess AG		51,129		3,877,635
Linde AG		110,964		21,122,324
MAN SE		21,551		2,311,225
Merck KGaA		77,628		9,392,883
Metro AG		99,145		3,349,329
Muenchener Rueckversicherungs AG, Registered Shares		94,004		19,021,962
OSRAM Licht AG		48,384		3,862,109
Porsche Automobil Holding SE, Preference Shares		93,485		5,260,515
ProSiebenSat.1 Media SE, Registered Shares		147,507		6,187,834
RWE AG (c)		317,915		6,350,609
SAP SE		584,859		61,217,971
Schaeffler AG		91,531		1,313,154

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 11

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Germany (continued)
Siemens AG, Registered Shares		455,830	$	62,701,209
Symrise AG		75,135		5,330,846
Telefonica Deutschland Holding AG		395,628		1,978,533
ThyssenKrupp AG		212,722		6,062,568
TUI AG		264,529		3,856,257
United Internet AG, Registered Shares		81,003		4,457,919
Volkswagen AG		17,872		2,775,799
Vonovia SE		279,585		11,123,615
Zalando SE (c)(d)		68,553		3,134,721
				758,990,890
Hong Kong — 3.3%
AIA Group Ltd.		7,206,000		52,721,687
ASM Pacific Technology Ltd.		149,604		2,018,565
Bank of East Asia Ltd.		698,532		3,002,268
BOC Hong Kong Holdings Ltd.		2,169,400		10,382,120
Cheung Kong Property Holdings Ltd.		1,590,439		12,445,625
CK Hutchison Holdings Ltd.		1,604,939		20,141,247
CK Infrastructure Holdings Ltd.		405,500		3,406,307
CLP Holdings Ltd.		1,002,687		10,602,751
First Pacific Co. Ltd.		1,337,250		986,172
Galaxy Entertainment Group Ltd.		1,405,000		8,527,371
Hang Lung Group Ltd.		479,000		1,981,908
Hang Lung Properties Ltd.		1,065,000		2,661,590
Hang Seng Bank Ltd.		476,953		9,977,946
Henderson Land Development Co. Ltd.		676,216		3,770,522
HK Electric Investments & HK Electric Investments Ltd. (a)(d)		1,698,000		1,561,164
HKT Trust & HKT Ltd. (a)		2,275,560		2,984,551
Hong Kong & China Gas Co. Ltd.		4,995,779		9,395,454
Hong Kong Exchanges & Clearing Ltd.		678,802		17,536,436
Hongkong Land Holdings Ltd.		748,600		5,509,111
Hysan Development Co. Ltd.		375,791		1,793,422
Jardine Matheson Holdings Ltd.		130,200		8,358,313
Jardine Strategic Holdings Ltd.		139,600		5,819,557
Kerry Properties Ltd.		348,000		1,181,594
Li & Fung Ltd.		2,983,980		1,085,271
Link REIT		1,299,414		9,884,691
Melco Resorts & Entertainment Ltd. — ADR		137,061		3,077,019
MGM China Holdings Ltd.		440,000		978,479
MTR Corp. Ltd.		934,000		5,255,926
New World Development Co. Ltd.		3,629,359		4,600,546
NWS Holdings Ltd.		722,220		1,420,379
PCCW Ltd.		2,265,000		1,287,230
Power Assets Holdings Ltd.		851,500		7,516,174
Sands China Ltd.		1,459,800		6,682,287
Shangri-La Asia Ltd.		729,905		1,237,785
Sino Land Co. Ltd.		1,748,349		2,864,465
SJM Holdings Ltd.		1,230,000		1,296,016
Sun Hung Kai Properties Ltd.		845,324		12,417,954
Swire Pacific Ltd., Class A		306,077		2,987,818
Swire Properties Ltd.		663,400		2,186,843
Techtronic Industries Co. Ltd.		845,000		3,882,771
WH Group Ltd. (d)		4,921,000		4,969,082
Wharf Holdings Ltd.		709,357		5,869,705
Wheelock & Co. Ltd.		460,000		3,469,595
Wynn Macau Ltd.		811,600		1,895,140
Yue Yuen Industrial Holdings Ltd.		444,285		1,842,668
				283,473,525
Ireland — 0.7%
Bank of Ireland (c)		16,314,856		4,285,896
CRH PLC		490,463		17,383,621
DCC PLC		56,332		5,130,099
Experian PLC		556,414		11,419,192
James Hardie Industries PLC		267,360		4,213,556
Kerry Group PLC, Class A		91,581		7,879,458

Common Stocks	Shares		Value
Ireland (continued)
Paddy Power Betfair PLC		52,302	$	5,583,590
Ryanair Holdings PLC (c)		9,354		191,320
				56,086,732
Israel — 0.7%
Azrieli Group Ltd.		34,725		1,928,943
Bank Hapoalim BM		611,984		4,126,711
Bank Leumi Le-Israel BM		796,377		3,869,204
Bezeq The Israeli Telecommunication Corp. Ltd.		1,192,994		1,978,927
Check Point Software Technologies Ltd. (c)		79,039		8,621,574
Elbit Systems Ltd.		14,481		1,786,297
Frutarom Industries Ltd.		20,196		1,409,934
Israel Chemicals Ltd.		425,593		2,007,621
Mizrahi Tefahot Bank Ltd.		64,901		1,180,042
Mobileye NV (c)		119,791		7,522,875
NICE Ltd.		35,209		2,773,983
Taro Pharmaceutical Industries Ltd. (c)(e)		6,231		698,246
Teva Pharmaceutical Industries Ltd. — ADR		543,644		18,059,854
				55,964,211
Italy — 2.0%
Assicurazioni Generali SpA		751,925		12,411,403
Atlantia SpA		273,030		7,680,169
Enel SpA		4,909,162		26,330,248
Eni SpA		1,517,559		22,805,668
Ferrari NV		75,923		6,533,256
Intesa Sanpaolo SpA		8,095,290		25,646,363
Leonardo SpA		185,823		3,093,907
Luxottica Group SpA		103,710		6,036,749
Mediobanca SpA		311,365		3,080,343
Poste Italiane SpA (d)		301,581		2,067,936
Prysmian SpA		121,697		3,589,274
Recordati SpA		60,712		2,463,034
Saipem SpA (c)		297,520		1,101,773
Snam SpA		1,405,688		6,134,642
Telecom Italia SpA (c)		7,029,718		6,503,691
Telecom Italia SpA, Non-Convertible Savings Shares		3,485,427		2,579,295
Tenaris SA		274,670		4,288,623
Terna — Rete Elettrica Nazionale SpA		877,391		4,738,902
UniCredit SpA (c)		1,192,845		22,343,457
UnipolSai SpA		560,158		1,228,905
				170,657,638
Japan — 22.6%
ABC-Mart, Inc.		20,800		1,225,789
Acom Co. Ltd. (c)		204,600		936,510
Aeon Co. Ltd.		346,800		5,274,687
AEON Financial Service Co. Ltd.		56,600		1,201,171
Aeon Mall Co. Ltd.		64,050		1,265,432
Air Water, Inc.		77,300		1,426,624
Aisin Seiki Co. Ltd.		99,500		5,114,958
Ajinomoto Co., Inc.		338,400		7,317,618
Alfresa Holdings Corp.		110,100		2,128,575
Alps Electric Co. Ltd.		111,500		3,238,887
Amada Holdings Co. Ltd.		209,400		2,428,971
ANA Holdings, Inc.		643,000		2,238,917
Aozora Bank Ltd.		694,000		2,649,610
Asahi Glass Co. Ltd.		114,420		4,832,278
Asahi Group Holdings Ltd.		233,300		8,786,141
Asahi Kasei Corp.		771,000		8,317,790
Asics Corp.		81,800		1,520,220
Astellas Pharma, Inc.		1,310,600		16,063,619
Bandai Namco Holdings, Inc.		130,200		4,448,588
Bank of Kyoto Ltd.		175,000		1,658,310
Benesse Holdings, Inc.		37,400		1,413,875
Bridgestone Corp.		395,700		17,106,720

See Notes to Financial Statements.

12 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Japan (continued)
Brother Industries Ltd.		128,300	$	2,971,814
Calbee, Inc.		41,400		1,628,385
Canon, Inc.		636,000		21,633,737
Casio Computer Co. Ltd.		106,200		1,636,775
Central Japan Railway Co.		85,800		14,012,576
Chiba Bank Ltd.		379,000		2,758,141
Chubu Electric Power Co., Inc.		424,000		5,638,627
Chugai Pharmaceutical Co. Ltd.		128,200		4,803,129
Chugoku Bank Ltd.		101,600		1,525,361
Chugoku Electric Power Co., Inc.		163,800		1,808,578
Coca-Cola Bottlers Japan, Inc.		71,000		2,055,847
Concordia Financial Group Ltd.		698,400		3,539,759
Credit Saison Co. Ltd.		78,800		1,542,978
CYBERDYNE, Inc. (c)(e)		64,800		863,493
Dai Nippon Printing Co. Ltd.		311,000		3,464,524
Dai-ichi Life Holdings, Inc.		636,400		11,551,554
Daicel Corp.		147,700		1,846,067
Daiichi Sankyo Co. Ltd.		326,200		7,699,269
Daikin Industries Ltd.		146,000		14,978,436
Daito Trust Construction Co. Ltd.		43,700		6,808,269
Daiwa House Industry Co. Ltd.		331,200		11,335,511
Daiwa House REIT Investment Corp.		757		1,796,826
Daiwa Securities Group, Inc.		1,042,000		6,204,803
DeNA Co. Ltd.		55,800		1,254,130
Denso Corp.		284,500		12,073,641
Dentsu, Inc.		136,413		6,544,137
Disco Corp.		16,600		2,662,495
Don Quijote Holdings Co. Ltd.		68,600		2,606,444
East Japan Railway Co.		204,549		19,595,017
Eisai Co. Ltd.		164,100		9,079,247
Electric Power Development Co. Ltd.		96,300		2,385,180
FamilyMart UNY Holdings Co. Ltd.		45,900		2,628,502
FANUC Corp.		115,600		22,373,887
Fast Retailing Co. Ltd.		31,300		10,467,487
Fuji Electric Co. Ltd.		302,800		1,601,588
FUJIFILM Holdings Corp.		252,200		9,093,690
Fujitsu Ltd.		1,179,000		8,720,199
Fukuoka Financial Group, Inc.		401,000		1,913,255
Hachijuni Bank Ltd.		249,300		1,588,432
Hakuhodo DY Holdings, Inc.		118,500		1,578,147
Hamamatsu Photonics KK		85,700		2,641,030
Hankyu Hanshin Holdings, Inc.		135,800		4,892,232
Hikari Tsushin, Inc.		12,900		1,359,090
Hino Motors Ltd.		133,600		1,491,720
Hirose Electric Co. Ltd.		19,000		2,718,983
Hiroshima Bank Ltd.		307,000		1,366,584
Hisamitsu Pharmaceutical Co., Inc.		36,300		1,740,354
Hitachi Chemical Co. Ltd.		56,300		1,687,907
Hitachi Construction Machinery Co. Ltd.		55,100		1,386,103
Hitachi High-Technologies Corp.		35,400		1,378,579
Hitachi Ltd.		2,914,000		17,966,823
Hitachi Metals Ltd.		112,100		1,564,061
Honda Motor Co. Ltd.		1,018,700		27,910,401
Hoshizaki Corp.		37,400		3,393,332
Hoya Corp.		230,800		12,015,765
Hulic Co. Ltd.		152,300		1,559,675
Idemitsu Kosan Co. Ltd.		49,200		1,399,675
IHI Corp. (c)		955,000		3,263,599
Iida Group Holdings Co. Ltd.		87,500		1,460,506
Inpex Corp.		601,200		5,804,860
Isetan Mitsukoshi Holdings Ltd.		170,905		1,719,338
Isuzu Motors Ltd.		308,200		3,827,032
ITOCHU Corp.		896,300		13,344,938
J. Front Retailing Co. Ltd.		132,600		2,043,426
Japan Airlines Co. Ltd.		72,580		2,248,214
Japan Airport Terminal Co. Ltd.		31,500		1,209,273
Japan Exchange Group, Inc.		320,600		5,829,410

Common Stocks	Shares		Value
Japan (continued)
Japan Post Bank Co. Ltd.		238,000	$	3,055,239
Japan Post Holdings Co. Ltd.		248,800		3,094,917
Japan Prime Realty Investment Corp.		438		1,516,790
Japan Real Estate Investment Corp.		806		4,005,815
Japan Retail Fund Investment Corp.		1,590		2,934,157
Japan Tobacco, Inc.		655,300		23,032,533
JFE Holdings, Inc.		323,900		5,639,613
JGC Corp.		106,800		1,739,699
JSR Corp.		102,000		1,765,747
JTEKT Corp.		133,200		1,960,084
JXTG Holdings, Inc.		1,880,210		8,226,874
Kajima Corp.		508,800		4,300,183
Kakaku.com, Inc.		86,900		1,249,181
Kamigumi Co. Ltd.		141,000		1,482,167
Kaneka Corp.		148,000		1,132,711
Kansai Electric Power Co., Inc.		441,200		6,083,892
Kansai Paint Co. Ltd.		124,800		2,881,157
Kao Corp.		301,300		17,914,786
Kawasaki Heavy Industries Ltd.		855,000		2,545,011
KDDI Corp.		1,107,500		29,290,744
Keihan Holdings Co. Ltd.		248,000		1,578,174
Keikyu Corp.		255,000		3,075,383
Keio Corp.		335,000		2,808,054
Keisei Electric Railway Co. Ltd.		72,600		1,943,026
Keyence Corp.		57,484		25,306,051
Kikkoman Corp.		87,400		2,795,766
Kintetsu Group Holdings Co. Ltd.		1,049,000		4,047,121
Kirin Holdings Co. Ltd.		526,900		10,748,016
Kobe Steel Ltd. (c)		179,800		1,853,960
Koito Manufacturing Co. Ltd.		63,900		3,304,303
Komatsu Ltd.		561,700		14,417,396
Konami Holdings Corp.		52,700		2,933,581
Konica Minolta, Inc.		337,200		2,813,208
Kose Corp.		19,200		2,105,678
Kubota Corp.		643,700		10,880,324
Kuraray Co. Ltd.		206,500		3,760,166
Kurita Water Industries Ltd.		62,600		1,712,365
Kyocera Corp.		191,700		11,141,736
Kyowa Hakko Kirin Co. Ltd.		144,800		2,693,136
Kyushu Electric Power Co., Inc.		257,900		3,134,445
Kyushu Financial Group, Inc.		168,300		1,066,439
Kyushu Railway Co.		91,800		2,977,450
Lawson, Inc.		27,900		1,952,527
LINE Corp. (c)		23,300		808,882
Lion Corp.		125,000		2,592,733
LIXIL Group Corp.		154,200		3,865,038
M3, Inc.		132,100		3,644,160
Mabuchi Motor Co. Ltd.		25,800		1,289,557
Makita Corp.		124,800		4,621,844
Marubeni Corp.		942,100		6,103,539
Marui Group Co. Ltd.		108,300		1,600,224
Maruichi Steel Tube Ltd.		25,100		730,268
Mazda Motor Corp.		359,480		5,050,295
McDonald’s Holdings Co. Japan Ltd.		37,300		1,430,883
Mebuki Financial Group, Inc.		543,300		2,028,541
Medipal Holdings Corp.		97,000		1,798,580
MEIJI Holdings Co. Ltd.		75,600		6,130,322
Minebea Mitsumi, Inc.		236,200		3,819,814
Miraca Holdings, Inc.		30,400		1,369,187
MISUMI Group, Inc.		171,500		3,930,717
Mitsubishi Chemical Holdings Corp.		864,900		7,206,133
Mitsubishi Corp.		916,200		19,259,448
Mitsubishi Electric Corp.		1,177,900		17,035,496
Mitsubishi Estate Co. Ltd.		769,000		14,374,764
Mitsubishi Gas Chemical Co., Inc.		98,200		2,085,709
Mitsubishi Heavy Industries Ltd.		1,939,200		7,983,987
Mitsubishi Materials Corp.		67,200		2,039,279

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 13

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Japan (continued)
Mitsubishi Motors Corp.		372,800	$	2,465,384
Mitsubishi Tanabe Pharma Corp.		135,800		3,141,337
Mitsubishi UFJ Financial Group, Inc.		7,202,474		48,580,998
Mitsubishi UFJ Lease & Finance Co. Ltd.		216,800		1,189,482
Mitsui & Co. Ltd.		1,053,900		15,087,459
Mitsui Chemicals, Inc.		498,000		2,652,034
Mitsui Fudosan Co. Ltd.		529,200		12,678,831
Mitsui OSK Lines Ltd.		611,000		1,804,222
Mixi, Inc.		25,000		1,391,231
Mizuho Financial Group, Inc.		14,605,364		26,778,551
MS&AD Insurance Group Holdings, Inc.		287,170		9,685,863
Murata Manufacturing Co. Ltd.		114,900		17,541,321
Nabtesco Corp.		58,200		1,697,348
Nagoya Railroad Co. Ltd.		628,000		2,930,313
NEC Corp.		1,583,000		4,208,249
Nexon Co. Ltd. (c)		137,600		2,729,414
NGK Insulators Ltd.		167,500		3,358,064
NGK Spark Plug Co. Ltd.		88,300		1,891,430
NH Foods Ltd.		118,000		3,589,570
Nidec Corp.		140,600		14,445,232
Nikon Corp.		228,500		3,662,657
Nintendo Co. Ltd.		67,700		22,665,375
Nippon Building Fund, Inc.		786		4,011,238
Nippon Electric Glass Co. Ltd.		41,100		1,499,228
Nippon Express Co. Ltd.		446,000		2,798,724
Nippon Paint Holdings Co. Ltd.		91,500		3,481,094
Nippon Prologis REIT, Inc.		823		1,751,779
Nippon Steel & Sumitomo Metal Corp.		462,300		10,476,058
Nippon Telegraph & Telephone Corp.		417,100		19,688,818
Nippon Yusen KK (c)		793,000		1,482,503
Nissan Chemical Industries Ltd.		67,700		2,243,366
Nissan Motor Co. Ltd.		1,380,000		13,779,197
Nisshin Seifun Group, Inc.		107,040		1,759,693
Nissin Foods Holdings Co. Ltd.		35,100		2,194,788
Nitori Holdings Co. Ltd.		48,900		6,545,908
Nitto Denko Corp.		99,010		8,176,377
NOK Corp.		60,700		1,288,640
Nomura Holdings, Inc.		2,209,000		13,321,248
Nomura Real Estate Holdings, Inc.		68,100		1,340,185
Nomura Real Estate Master Fund, Inc.		2,372		3,241,399
Nomura Research Institute Ltd.		77,870		3,076,370
NSK Ltd.		219,900		2,767,170
NTT Data Corp.		362,500		4,044,280
NTT DOCOMO, Inc.		836,400		19,781,426
Obayashi Corp.		375,700		4,426,543
Obic Co. Ltd.		33,600		2,068,951
Odakyu Electric Railway Co. Ltd.		168,200		3,399,451
Oji Holdings Corp.		490,000		2,536,972
Olympus Corp.		177,800		6,514,304
Omron Corp.		111,500		4,853,526
Ono Pharmaceutical Co. Ltd.		261,300		5,699,314
Oracle Corp. Japan		20,600		1,339,982
Oriental Land Co. Ltd.		129,800		8,797,198
ORIX Corp.		793,600		12,348,294
Osaka Gas Co. Ltd.		1,250,000		5,118,553
Otsuka Corp.		27,100		1,685,729
Otsuka Holdings Co. Ltd.		233,200		9,956,531
Panasonic Corp.		1,327,500		18,087,530
Park24 Co. Ltd.		60,800		1,547,138
Pola Orbis Holdings, Inc.		48,500		1,283,145
Rakuten, Inc.		577,000		6,809,128
Recruit Holdings Co. Ltd.		650,900		11,201,908
Resona Holdings, Inc.		1,368,456		7,559,093
Ricoh Co. Ltd.		402,400		3,564,710
Rinnai Corp.		17,800		1,662,988
Rohm Co. Ltd.		53,000		4,086,372
Ryohin Keikaku Co. Ltd.		13,200		3,303,704

Common Stocks	Shares		Value
Japan (continued)
Sankyo Co. Ltd.		20,900	$	709,979
Santen Pharmaceutical Co. Ltd.		200,500		2,723,415
SBI Holdings, Inc.		108,240		1,471,915
Secom Co. Ltd.		123,800		9,419,322
Sega Sammy Holdings, Inc.		107,632		1,451,118
Seibu Holdings, Inc.		112,000		2,075,192
Seiko Epson Corp.		165,200		3,686,006
Sekisui Chemical Co. Ltd.		225,500		4,046,248
Sekisui House Ltd.		384,700		6,799,032
Seven & i Holdings Co. Ltd.		456,500		18,837,216
Seven Bank Ltd.		312,200		1,119,379
Sharp Corp. (c)		933,000		3,458,362
Shimadzu Corp.		169,500		3,229,853
Shimamura Co. Ltd.		13,100		1,605,954
Shimano, Inc.		45,800		7,272,053
Shimizu Corp.		326,000		3,463,951
Shin-Etsu Chemical Co. Ltd.		231,800		21,096,775
Shinsei Bank Ltd.		884,000		1,548,557
Shionogi & Co. Ltd.		175,300		9,774,357
Shiseido Co. Ltd.		230,400		8,213,217
Shizuoka Bank Ltd.		357,000		3,237,751
Showa Shell Sekiyu KK		92,300		857,315
SMC Corp.		34,000		10,393,535
Softbank Group Corp.		494,000		40,157,308
Sohgo Security Services Co. Ltd.		36,900		1,665,668
Sompo Holdings, Inc.		219,175		8,507,249
Sony Corp.		759,000		28,951,100
Sony Financial Holdings, Inc.		95,100		1,626,398
Stanley Electric Co. Ltd.		86,300		2,615,310
Start Today Co. Ltd.		104,700		2,580,297
Subaru Corp.		360,600		12,227,244
Sumitomo Chemical Co. Ltd.		984,000		5,687,321
Sumitomo Corp.		725,600		9,461,947
Sumitomo Dainippon Pharma Co. Ltd.		86,200		1,176,620
Sumitomo Electric Industries Ltd.		458,300		7,090,087
Sumitomo Heavy Industries Ltd.		306,000		2,030,501
Sumitomo Metal Mining Co. Ltd.		285,000		3,809,332
Sumitomo Mitsui Financial Group, Inc.		808,750		31,577,195
Sumitomo Mitsui Trust Holdings, Inc.		204,782		7,355,619
Sumitomo Realty & Development Co. Ltd.		205,000		6,348,490
Sumitomo Rubber Industries Ltd.		92,200		1,561,454
Sundrug Co. Ltd.		38,000		1,417,488
Suntory Beverage & Food Ltd.		82,400		3,830,019
Suruga Bank Ltd.		93,300		2,269,099
Suzuken Co. Ltd.		35,700		1,188,385
Suzuki Motor Corp.		205,800		9,803,890
Sysmex Corp.		96,800		5,793,836
T&D Holdings, Inc.		338,200		5,171,799
Taiheiyo Cement Corp.		661,000		2,417,299
Taisei Corp.		632,000		5,780,612
Taisho Pharmaceutical Holdings Co. Ltd.		21,000		1,600,082
Taiyo Nippon Sanso Corp.		58,900		664,347
Takashimaya Co. Ltd.		159,000		1,516,873
Takeda Pharmaceutical Co. Ltd.		431,100		21,886,499
TDK Corp.		83,100		5,493,069
Teijin Ltd.		134,500		2,595,457
Terumo Corp.		200,900		7,927,305
THK Co. Ltd.		62,700		1,786,901
Tobu Railway Co. Ltd.		588,000		3,212,520
Toho Co. Ltd.		59,700		1,841,145
Toho Gas Co. Ltd.		236,000		1,719,029
Tohoku Electric Power Co., Inc.		268,600		3,722,554
Tokio Marine Holdings, Inc.		412,600		17,169,626
Tokyo Electric Power Co. Holdings, Inc. (c)		815,700		3,367,495
Tokyo Electron Ltd.		94,800		12,816,293
Tokyo Gas Co. Ltd.		1,253,000		6,526,493
Tokyo Tatemono Co. Ltd.		124,900		1,641,780

See Notes to Financial Statements.

14 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Japan (continued)
Tokyu Corp.		605,000	$	4,623,158
Tokyu Fudosan Holdings Corp.		267,700		1,587,594
Toppan Printing Co. Ltd.		297,000		3,265,816
Toray Industries, Inc.		886,600		7,438,278
Toshiba Corp. (c)		2,488,000		6,026,954
Tosoh Corp.		341,000		3,514,420
Toto Ltd.		80,200		3,072,846
Toyo Seikan Kaisha Ltd.		84,200		1,425,404
Toyo Suisan Kaisha Ltd.		52,200		2,002,733
Toyoda Gosei Co. Ltd.		28,900		692,486
Toyota Industries Corp.		104,300		5,516,457
Toyota Motor Corp.		1,564,588		82,240,165
Toyota Tsusho Corp.		123,800		3,722,141
Trend Micro, Inc.		78,700		4,067,451
Tsuruha Holdings, Inc.		24,000		2,550,326
Unicharm Corp.		250,800		6,314,129
United Urban Investment Corp.		1,781		2,540,881
USS Co. Ltd.		118,800		2,367,813
West Japan Railway Co.		100,100		7,082,629
Yahoo! Japan Corp.		797,300		3,466,042
Yakult Honsha Co. Ltd.		49,400		3,367,255
Yamada Denki Co. Ltd.		327,200		1,626,854
Yamaguchi Financial Group, Inc.		99,000		1,199,090
Yamaha Corp.		103,300		3,576,137
Yamaha Motor Co. Ltd.		180,300		4,678,669
Yamato Holdings Co. Ltd.		199,500		4,052,956
Yamazaki Baking Co. Ltd.		65,500		1,305,869
Yaskawa Electric Corp.		157,300		3,349,241
Yokogawa Electric Corp.		126,800		2,040,632
Yokohama Rubber Co. Ltd.		94,600		1,907,057
				1,915,263,080
Luxembourg — 0.2%
ArcelorMittal (c)		397,739		9,021,951
Eurofins Scientific SE		6,317		3,564,081
RTL Group SA (c)		20,693		1,563,336
				14,149,368
Mexico — 0.0%
Fresnillo PLC		134,464		2,606,548
Netherlands — 4.9%
ABN AMRO Group NV (d)		218,031		5,776,039
Aegon NV		1,007,004		5,153,753
AerCap Holdings NV (c)		84,852		3,939,678
Akzo Nobel NV		149,801		13,027,978
Altice NV Class A (c)		242,066		5,577,050
Altice NV Class B (c)		50,125		1,156,160
ASML Holding NV		221,611		28,887,578
CNH Industrial NV		622,207		7,056,290
EXOR NV		64,879		3,520,524
Gemalto NV		45,844		2,749,690
Heineken Holding NV		62,832		5,759,180
Heineken NV		138,766		13,492,857
ING Groep NV		2,303,347		39,762,120
Koninklijke Ahold Delhaize NV		757,375		14,456,180
Koninklijke Boskalis Westminster NV		48,303		1,568,686
Koninklijke DSM NV		110,674		8,049,595
Koninklijke KPN NV		2,120,415		6,786,519
Koninklijke Philips NV		552,838		19,680,300
Koninklijke Vopak NV		56,102		2,599,700
NN Group NV		186,119		6,604,065
NXP Semiconductor NV (c)		206,357		22,585,774
QIAGEN NV (c)		126,962		4,224,499
Randstad Holding NV		73,431		4,281,108
Royal Dutch Shell PLC, Class A		2,639,375		70,124,763
Royal Dutch Shell PLC, Class B		2,237,635		60,072,434
Unilever NV CVA		970,253		53,559,664

Common Stocks	Shares		Value
Netherlands (continued)
Wolters Kluwer NV		183,741	$	7,770,944
				418,223,128
New Zealand — 0.2%
Auckland International Airport Ltd.		541,836		2,831,200
Contact Energy Ltd.		424,162		1,619,375
Fletcher Building Ltd.		353,163		2,068,088
Mercury NZ Ltd.		454,486		1,105,717
Meridian Energy Ltd.		769,498		1,640,767
Ryman Healthcare Ltd.		236,638		1,437,555
Spark New Zealand Ltd.		1,208,885		3,349,629
				14,052,331
Norway — 0.6%
DNB ASA		581,581		9,901,287
Gjensidige Forsikring ASA		112,526		1,920,807
Marine Harvest ASA (c)		232,053		3,970,241
Norsk Hydro ASA		740,392		4,097,332
Orkla ASA		518,275		5,267,753
Schibsted ASA, Class A		45,450		1,097,747
Schibsted ASA, Class B		61,787		1,366,700
Statoil ASA		697,347		11,563,505
Telenor ASA		461,981		7,664,375
Yara International ASA		97,691		3,673,401
				50,523,148
Portugal — 0.1%
EDP — Energias de Portugal SA		1,417,829		4,638,030
Galp Energia SGPS SA		225,543		3,417,824
Jeronimo Martins SGPS SA		175,617		3,428,705
				11,484,559
Singapore — 1.3%
Ascendas Real Estate Investment Trust		1,514,446		2,869,501
CapitaLand Commercial Trust Ltd.		1,214,700		1,463,970
CapitaLand Ltd.		1,468,249		3,730,849
CapitaLand Mall Trust		1,654,900		2,373,342
City Developments Ltd.		233,835		1,821,483
ComfortDelGro Corp. Ltd.		1,250,316		2,088,409
DBS Group Holdings Ltd.		1,041,407		15,673,977
Genting Singapore PLC		4,224,427		3,328,281
Global Logistic Properties Ltd.		1,512,100		3,141,329
Golden Agri-Resources Ltd.		4,730,351		1,288,435
Hutchison Port Holdings Trust		2,969,600		1,275,874
Jardine Cycle & Carriage Ltd.		76,156		2,451,964
Keppel Corp. Ltd.		830,477		3,792,522
Oversea-Chinese Banking Corp. Ltd.		1,835,798		14,380,430
SATS Ltd.		348,200		1,291,708
SembCorp Industries Ltd.		550,790		1,231,314
Singapore Airlines Ltd.		344,709		2,533,352
Singapore Exchange Ltd.		438,900		2,339,107
Singapore Press Holdings Ltd.		496,185		1,164,184
Singapore Technologies Engineering Ltd.		962,013		2,570,068
Singapore Telecommunications Ltd.		4,981,232		14,067,394
StarHub Ltd.		296,557		585,904
Suntec Real Estate Investment Trust		1,305,700		1,772,034
United Overseas Bank Ltd.		785,947		13,194,979
UOL Group Ltd.		388,899		2,157,772
Wilmar International Ltd.		980,970		2,386,062
Yangzijiang Shipbuilding Holdings Ltd.		1,357,383		1,172,953
				106,147,197
Spain — 3.3%
Abertis Infraestructuras SA		463,032		8,582,978
ACS Actividades de Construccion y Servicios SA		156,993		6,069,954
Aena SA (d)		43,873		8,567,266
Amadeus IT Group SA		267,508		15,990,475
Banco Bilbao Vizcaya Argentaria SA		4,042,195		33,671,263

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 15

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
Spain (continued)
Banco de Sabadell SA		3,506,590	$	7,134,345
Banco Santander SA		8,739,614		58,029,930
Bankia SA		608,020		2,940,840
Bankinter SA		469,890		4,334,712
CaixaBank SA		2,228,455		10,652,845
Distribuidora Internacional de Alimentacion SA		381,220		2,378,956
Enagas SA		32,261		905,383
Endesa SA		189,476		4,370,942
Ferrovial SA		315,849		7,016,008
Gamesa Corp. Technologica SA		145,468		3,112,366
Gas Natural SDG SA		208,933		4,890,798
Grifols SA		189,944		5,295,846
Iberdrola SA		3,175,583		25,164,637
Industria de Diseno Textil SA		663,402		25,477,929
International Consolidated Airlines Group SA		384,071		3,051,552
Mapfre SA		788,268		2,759,103
Red Electrica Corp. SA		100,333		2,099,008
Repsol SA		735,137		11,270,435
Telefonica SA		2,714,261		28,096,973
				281,864,544
Sweden — 2.8%
Alfa Laval AB		181,667		3,718,270
Assa Abloy AB, Class B		594,017		13,093,002
Atlas Copco AB, A Shares		394,192		15,157,372
Atlas Copco AB, B Shares		236,275		8,166,783
Boliden AB		155,487		4,250,225
Electrolux AB, Class B		150,907		4,948,426
Essity AB (c)		363,054		9,933,166
Getinge AB, Class B		138,248		2,707,761
Hennes & Mauritz AB, Class B		566,332		14,119,804
Hexagon AB, Class B		155,243		7,375,540
Husqvarna AB, Class B		252,197		2,506,888
ICA Gruppen AB		42,504		1,583,355
Industrivarden AB, Class C		101,875		2,443,946
Investor AB, Class B		268,752		12,966,348
Kinnevik AB		137,584		4,217,929
L E Lundbergforetagen AB, B Shares		19,085		1,507,525
Lundin Petroleum AB (c)		103,283		1,990,673
Millicom International Cellular SA		46,585		2,755,409
Nordea Bank AB		1,803,503		22,970,179
Sandvik AB		678,966		10,689,800
Securitas AB, Class B		186,878		3,151,973
Skandinaviska Enskilda Banken AB, Class A		924,168		11,188,565
Skanska AB, Class B		215,385		5,114,517
SKF AB, Class B		210,848		4,281,561
Svenska Handelsbanken AB, Class A		914,777		13,101,547
Swedbank AB, Class A		540,862		13,200,189
Swedish Match AB		108,800		3,833,111
Tele2 AB, Class B		210,479		2,205,751
Telefonaktiebolaget LM Ericsson, Class B		1,832,365		13,174,942
Telia Co. AB		1,541,670		7,104,927
Volvo AB, Class B		915,958		15,620,418
				239,079,902
Switzerland — 8.6%
ABB Ltd., Registered Shares		1,185,869		29,434,578
Adecco SA, Registered Shares		99,702		7,595,511
Baloise Holding AG, Registered Shares		31,268		4,843,403
Barry Callebaut AG, Registered Shares (c)		1,487		2,046,884
Cie Financiere Richemont SA, Registered Shares		308,022		25,488,455
Coca-Cola HBC AG (c)		121,801		3,582,044
Credit Suisse Group AG, Registered Shares (c)		1,405,116		20,445,830
Dufry AG (c)		20,256		3,324,218
EMS-Chemie Holding AG, Registered Shares		4,689		3,462,404
Geberit AG, Registered Shares		21,918		10,234,829
Givaudan SA, Registered Shares		5,500		11,020,894

Common Stocks	Shares		Value
Switzerland (continued)
Glencore PLC (c)		7,324,219	$	27,445,502
Julius Baer Group Ltd. (c)		136,687		7,222,026
Kuehne & Nagel International AG, Registered Shares		32,309		5,401,528
LafargeHolcim Ltd. (c)		269,220		15,472,899
Lindt & Spruengli AG		559		3,241,256
Lindt & Spruengli AG, Registered Shares		60		4,183,721
Lonza Group AG, Registered Shares (c)		45,355		9,824,622
Nestle SA, Registered Shares		1,851,633		161,495,080
Novartis AG, Registered Shares		1,327,765		110,903,706
Pargesa Holding SA, Bearer Shares		23,534		1,793,182
Partners Group Holding AG		10,904		6,770,409
Roche Holding AG		418,450		106,920,187
Schindler Holding AG, Participation Certificates		23,145		4,907,037
Schindler Holding AG, Registered Shares		12,364		2,569,970
SGS SA, Registered Shares		3,340		8,098,447
Sika AG, Bearer Shares		1,314		8,436,048
Sonova Holding AG, Registered Shares		29,770		4,842,789
STMicroelectronics NV		406,170		5,840,529
Straumann Holding AG, Registered Shares		5,167		2,942,453
Swatch Group AG, Bearer Shares		18,819		6,960,472
Swatch Group AG, Registered Shares		32,388		2,366,023
Swiss Life Holding AG, Registered Shares (c)		20,245		6,848,314
Swiss Prime Site AG, Registered Shares (c)		38,360		3,487,701
Swiss Re AG		194,747		17,847,149
Swisscom AG, Registered Shares		15,528		7,504,679
UBS Group AG, Registered Shares (c)		2,184,804		37,154,521
Vifor Pharma AG		30,133		3,328,421
Zurich Insurance Group AG		90,669		26,461,642
				731,749,363
United Arab Emirates — 0.0%
Mediclinic International PLC		186,944		1,808,316
United Kingdom — 15.1%
3i Group PLC		591,229		6,951,402
Aberdeen Asset Management PLC		499,644		1,967,147
Admiral Group PLC		127,365		3,323,567
Anglo American PLC (c)		801,558		10,708,588
Antofagasta PLC		211,311		2,204,602
Ashtead Group PLC		309,713		6,408,771
Associated British Foods PLC		214,543		8,209,965
AstraZeneca PLC		752,661		50,415,881
Auto Trader Group PLC (d)		557,883		2,762,275
Aviva PLC		2,413,368		16,554,173
Babcock International Group PLC		145,353		1,666,835
BAE Systems PLC		1,878,445		15,507,080
Barclays PLC		10,130,696		26,793,386
Barratt Developments PLC		569,633		4,183,536
Berkeley Group Holdings PLC		81,471		3,425,816
BHP Billiton PLC		1,250,996		19,166,132
BP PLC		11,680,360		67,421,042
British American Tobacco PLC		1,109,769		75,622,853
British Land Co. PLC		551,566		4,354,361
BT Group PLC		5,036,141		19,365,166
Bunzl PLC		199,128		5,936,469
Burberry Group PLC		274,725		5,944,694
Capita PLC		433,266		3,904,377
Carnival PLC		113,383		7,497,279
Centrica PLC		3,261,199		8,502,762
Cobham PLC		1,502,622		2,536,388
Coca-Cola European Partners PLC		121,913		4,939,571
Compass Group PLC		942,771		19,899,570
ConvaTec Group PLC (c)(d)		705,617		2,933,546
Croda International PLC		79,019		4,001,717
Diageo PLC		1,494,034		44,151,308
Direct Line Insurance Group PLC		737,916		3,416,936
Dixons Carphone PLC		510,987		1,888,948

See Notes to Financial Statements.

16 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Common Stocks	Shares		Value
United Kingdom (continued)
easyJet PLC		99,665	$	1,765,574
Fiat Chrysler Automobiles NV (c)		649,885		6,865,755
G4S PLC		941,335		4,003,424
GKN PLC		982,813		4,174,570
GlaxoSmithKline PLC		2,913,974		62,030,489
Hammerson PLC		436,597		3,266,572
Hargreaves Lansdown PLC		151,819		2,574,446
Hikma Pharmaceuticals PLC		73,381		1,405,356
HSBC Holdings PLC		11,809,839		109,618,494
IMI PLC		175,672		2,736,121
Imperial Brands PLC		572,581		25,730,141
Inmarsat PLC		257,590		2,583,407
InterContinental Hotels Group PLC		110,418		6,131,911
Intertek Group PLC		93,046		5,111,503
Intu Properties PLC		474,114		1,662,667
Investec PLC		409,535		3,060,033
ITV PLC		2,176,260		5,151,350
J. Sainsbury PLC		918,131		3,011,526
Johnson Matthey PLC		109,182		4,086,312
Kingfisher PLC		1,331,150		5,213,997
Land Securities Group PLC		466,169		6,154,668
Legal & General Group PLC		3,574,032		12,026,608
Lloyds Banking Group PLC		42,486,632		36,613,969
London Stock Exchange Group PLC		188,341		8,958,905
Marks & Spencer Group PLC		939,826		4,078,956
Meggitt PLC		430,250		2,673,468
Merlin Entertainments PLC (d)		436,142		2,730,190
Mondi PLC		218,787		5,736,980
National Grid PLC		2,057,275		25,490,624
Next PLC		94,903		4,766,391
Old Mutual PLC		2,960,834		7,469,818
Pearson PLC		502,342		4,523,045
Persimmon PLC		183,648		5,363,715
Petrofac Ltd.		116,652		670,746
Provident Financial PLC		86,339		2,738,381
Prudential PLC		1,541,724		35,388,351
Randgold Resources Ltd.		59,259		5,258,387
Reckitt Benckiser Group PLC		394,812		40,023,296
RELX NV		594,699		12,260,786
RELX PLC		638,228		13,796,567
Rio Tinto PLC		732,334		31,015,662
Rolls-Royce Holdings PLC (c)		1,005,111		11,657,898
Royal Bank of Scotland Group PLC (c)		2,185,227		7,051,050
Royal Mail PLC		524,516		2,877,319
RSA Insurance Group PLC		647,753		5,196,148
Sage Group PLC		668,891		5,993,900
Schroders PLC		67,312		2,721,823
Segro PLC		586,498		3,738,199
Severn Trent PLC		150,226		4,270,681
Shire PLC		538,530		29,693,962
Sky PLC		624,126		8,083,134
Smith & Nephew PLC		513,159		8,861,478
Smiths Group PLC		225,963		4,698,201
SSE PLC		605,563		11,458,028
St. James’s Place PLC		303,720		4,681,394
Standard Chartered PLC (c)		1,952,975		19,780,132
Standard Life PLC		1,176,942		6,120,097
Tate & Lyle PLC		275,689		2,375,990
Taylor Wimpey PLC		2,107,397		4,839,525
Tesco PLC (c)		4,972,579		10,947,777
Travis Perkins PLC		153,254		2,905,220
Unilever PLC		763,907		41,341,016
United Utilities Group PLC		411,255		4,648,735
Vodafone Group PLC		15,758,595		44,753,659
Weir Group PLC		127,961		2,888,057
Whitbread PLC		108,631		5,613,973
WM Morrison Supermarkets PLC		1,317,041		4,136,614

Common Stocks	Shares		Value
United Kingdom (continued)
Wolseley PLC		149,930	$	9,202,358
Worldpay Group PLC (d)		1,200,047		4,920,684
WPP PLC		769,866		16,210,809
				1,282,157,165
Total Common Stocks — 96.0%				8,144,084,683
Investment Companies — 2.4%
United States — 2.4%
iShares MSCI EAFE ETF (f)		3,131,052		204,144,590
Preferred Securities
Preferred Stock — 0.2%
Germany — 0.2%
Volkswagen AG, Preference Shares, 0.00%		111,885		17,091,074
Total Preferred Securities — 0.2%				17,091,074
Rights
Spain — 0.0%
ACS Actividades de Construccion y Servicios SA (Expires 07/17/17) (c)		136,607		109,218
Repsol SA (Expires 06/30/17) (c)		653,865		298,725
Total Rights — 0.0%				407,943
Total Long-Term Investments (Cost — $7,669,341,514) — 98.6%				8,365,728,290
Short-Term Securities
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.83% (f)(g)		348,589,345		348,589,345
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.29% (f)(g)(h)		1,468,181		1,468,622
Total Short-Term Securities (Cost — $350,058,086) — 4.1%				350,057,967
Total Investments (Cost — $8,019,399,600) — 102.7%				8,715,786,257
Liabilities in Excess of Other Assets — (2.7)%				(231,903,163	)
Net Assets — 100.0%			$	8,483,883,094

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 17

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

Notes to Schedule of Investments

(a) A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

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

(c) Non-income producing security.

(d) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

(f) During the period ended June 30, 2017, investments in issuers considered to be affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares/ Investment Value Held at December  31, 2016		Shares/ Investment Value Purchased			Shares/ Investment Value Sold			Shares/ Investment Value Held at June  30, 2017		Value at June 30, 2017		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds, T-Fund, Institutional Class		25,377,782		323,211,563	1		—			348,589,345	$	348,589,345	$	135,513			—			—
BlackRock Cash Funds: Institutional, SL Agency Shares		—		1,468,181	1		—			1,468,181		1,468,622		210,878	2	$	(5	)	$	(119	)
iShares MSCI EAFE ETF		—		18,849,827			(15,718,775	)		3,131,052		204,144,590		—			(844,778	)		(36,640	)
SL Liquidity Series, LLC, Money Market Series	$	1,766,823		—		$	(1,766,823	)3		—		—		—			98			(12	)
Total											$	554,202,557	$	346,391		$	(844,685	)	$	(36,771	)
1    Represents net shares/investment value purchased.
2    Represents all or a portion of securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrower of securities.
3    Represents net shares/investment value sold.

(g) Current yield as of period end.

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

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
Contracts Long		Issue	Expiration	Notional Value		Unrealized Appreciation (Depreciation)
	747	Euro Stoxx 50 Index	September 2017	$	29,272,805	$	(812,868	)
	209	FTSE 100 Index	September 2017	$	19,714,952		(330,401	)
	215	Nikkei 225	September 2017	$	19,115,359		(36,426	)
	89	SPI 200 Index	September 2017	$	9,660,552		5,425
	Total					$	(1,174,270	)

Derivative Financial Instruments Catergorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

Assets — Derivative Financial Instruments		Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total
Futures contracts	Net unrealized appreciation1		—		—	$	5,425		—		—		—	$	5,425
Liabilities — Derivative Financial Instruments
Futures contracts	Net unrealized depreciation1		—		—	$	1,179,695		—		—		—	$	1,179,695

See Notes to Financial Statements.

18 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) iShares MSCI EAFE International Index Fund

For the six months ended June 30, 2017, the effect of derivative financial instruments in the Statements of Operations was as follows:

Net Realized Gain (Loss) from:	Commodity Contracts	Credit Contracts	Equity Contracts			Foreign Currency Exchange Contracts	Interest Rate Contracts	Other Contracts	Total
Futures contracts	—	—	$	7,976,162		—		—	$	7,976,162
Net Change in Unrealized Appreciation (Depreciation) on:
Futures contracts	—	—	$	(2,688,893	)	—	—	—	$	(2,688,893	)
1    Includes cumulative appreciation (depreciation) on futures contracts, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.

Average Quarterly Balances of Outstanding Derivative Financial Instruments

Futures contracts:
Average notional value of contracts — long	$	121,416,541

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to the Notes to Financial Statements.

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

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Common Stocks:
Australia		—	$	571,921,738	$	9	$	571,921,747
Austria		—		19,354,723		—		19,354,723
Belgium		—		93,058,751		—		93,058,751
Denmark		—		147,729,880		—		147,729,880
Finland		—		84,263,197		—		84,263,197
France	$	3,643,597		829,831,143		—		833,474,740
Germany		—		758,990,890		—		758,990,890
Hong Kong		7,299,355		276,174,170		—		283,473,525
Ireland		13,463,048		42,623,684		—		56,086,732
Israel		34,902,549		21,061,662		—		55,964,211
Italy		2,463,034		168,194,604		—		170,657,638
Japan		12,775,242		1,902,487,838		—		1,915,263,080
Luxembourg		9,021,951		5,127,417		—		14,149,368
Mexico		—		2,606,548		—		2,606,548
Netherlands		26,525,452		391,697,676		—		418,223,128
New Zealand		2,543,272		11,509,059		—		14,052,331
Norway		—		50,523,148		—		50,523,148
Portugal		—		11,484,559		—		11,484,559
Singapore		—		106,147,197		—		106,147,197
Spain		—		281,864,544		—		281,864,544
Sweden		9,933,166		229,146,736		—		239,079,902
Switzerland		5,607,279		726,142,084		—		731,749,363
United Arab Emirates		—		1,808,316		—		1,808,316
United Kingdom		5,469,934		1,276,687,231		—		1,282,157,165
Investment Companies		204,144,590		—		—		204,144,590
Preferred Stock		—		17,091,074		—		17,091,074
Rights		407,943		—		—		407,943
Short-Term Securities		350,057,967		—		—		350,057,967
Total	$	688,258,379	$	8,027,527,869	$	9	$	8,715,786,257

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 19

Schedule of Investments (concluded) iShares MSCI EAFE International Index Fund

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2		Level 3		Total
Derivative Financial Instruments1
Assets:
Equity contracts	$	5,425			—		—	$	5,425
Liabilities:
Equity contracts		(1,179,695	)		—		—		(1,179,695	)
Total	$	(1,174,270	)		—		—	$	(1,174,270	)
1    Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

During the six months ended June 30, 2017, there were no transfers between levels.

See Notes to Financial Statements.

20 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Statements of Assets and Liabilities

June 30, 2017 (Unaudited)	iShares MSCI EAFE International Index Fund			iShares Russell 2000 Small-Cap Index Fund
Assets
Investments at value — unaffiliated including securities loaned at value of $1,413,413)1	$	8,161,583,700			—
Investments at value — from the Master Small Cap Index Series (the “Series”)2		—		$	589,445,852
Investments at value — affiliated3		554,202,557			—
Cash pledged for futures contracts		4,148,512			—
Foreign currency at value4		74,577,449			—
Receivables:
Capital shares sold		241,839,545			23,557,147
Dividends — unaffiliated		24,554,164			—
Dividends — affiliated		33,110			—
Investments sold		332,666,167			—
Receivable from the Manager		—			6,986
Securities lending income — affiliated		3,417			—
Prepaid expenses		186,948			40,716
Total assets		9,393,795,569			613,050,701
Liabilities
Cash collateral on securities loaned at value		1,468,745			—
Payables:
Contributions to the Master Small Cap Index Series		—			22,152,930
Capital shares redeemed		12,399,219			1,404,342
Investment advisory fees		61,981			—
Investments purchased		894,158,915			—
Officer’s and Directors’ fees		23,662			—
Professional fees		103,195			—
Variation margin on futures contracts		802,022			—
Service fees		62,914			27,732
Other affiliates		26,747			—
Other accrued expenses		805,075			66,733
Total liabilities		909,912,475			23,651,737
Net Assets	$	8,483,883,094		$	589,398,964
Net Assets Consist of
Paid-in capital	$	7,887,917,838		$	492,992,687
Undistributed net investment income		119,547,728			2,880,997
Undistributed net realized gain (accumulated net realized loss)		(219,677,213	)		41,400,355
Net unrealized appreciation (depreciation)		696,094,741			52,124,925
Net Assets	$	8,483,883,094		$	589,398,964
Institutional:
Net assets	$	565,423,146		$	149,925,173
Shares outstanding, $0.0001 par value		42,500,207			8,044,506
Net asset value	$	13.30		$	18.64
Shares authorized		1.208 billion			208 million
Investor A:
Net assets	$	310,032,164		$	134,960,844
Shares outstanding, $0.0001 par value		23,468,250			7,241,567
Net asset value	$	13.21		$	18.64
Shares authorized		208 million			208 million
Class K:
Net assets	$	7,608,427,784		$	304,512,947
Shares outstanding, $0.0001 par value		571,585,111			16,303,398
Net asset value	$	13.31		$	18.68
Shares authorized		1.208 billion			1.208 billion
1    Investments at cost — unaffiliated	$	7,465,160,284			—
2    Investments at cost — from the Series		—		$	537,097,227
3    Investments at cost — affiliated	$	554,239,316
4    Foreign currency at cost	$	74,405,070			—

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	21

Statements of Operations

Six Months Ended June 30, 2017 (Unaudited)	iShares MSCI EAFE International Index Fund			iShares Russell 2000 Small-Cap Index Fund
Investment Income
Dividends — unaffiliated	$	139,042,562			—
Securities lending income — affiliated — net		210,878			—
Dividends — affiliated		135,513			—
Foreign taxes withheld		(12,010,906	)		—
Net investment income allocated from the Series::
Dividends — unaffiliated		—		$	2,587,828
Securities lending income — affiliated — net		—			290,573
Dividends — affiliated		—			29,737
Interest — unaffiliated		—			351
Expenses		—			(122,567	)
Fees waived		—			4,163
Foreign taxes withheld		—			(368	)
Total investment income		127,378,047			2,789,717
Expenses
Investment advisory		312,469			—
Administration		—			96,623
Service and distribution — class specific		339,907			157,800
Transfer agent — class specific		434,958			72,912
Accounting services		304,844			—
Custodian		259,941			—
Officer and Directors		62,094			92
Printing		22,381			6,908
Professional		89,254			30,817
Registration		113,907			36,978
Miscellaneous		66,788			5,959
Total expenses		2,006,543			408,089
Less:
Fees waived by the Manager		(15,461	)		—
Fees waived by the Administrator		—			(96,155	)
Fees reimbursed by the Administrator		—			(29,987	)
Transfer agent fees waived and/or reimbursed — class specific		(17,375	)		(10,494	)
Total expenses after fees waived and/or reimbursed and paid indirectly		1,973,707			271,453
Net investment income		125,404,340			2,518,264
Realized and Unrealized Gain (Loss)
Net realized gain (loss) allocated from the Series from investments and futures contracts		—			13,998,106
Net realized gain (loss) from:
Investments — unaffiliated		(3,456,906	)		—
Investments — affiliated		(844,685	)		—
Futures contracts		7,976,162			—
Foreign currency transactions		7,707,892			—
		11,382,463			13,998,106
Net change in unrealized appreciation (depreciation) allocated from the Series on investment and future contracts		—			7,387,651
Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated		681,734,396			—
Investments — affiliated		(36,771	)		—
Futures contracts		(2,688,893	)		—
Foreign currency translations		1,031,833			—
		680,040,565			7,387,651
Net realized and unrealized gain		691,423,028			21,385,757
Net Increase in Net Assets Resulting from Operations	$	816,827,368		$	23,904,021

See Notes to Financial Statements.
22	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017

Statements of Changes in Net Assets

	iShares MSCI EAFE International Index Fund					iShares Russell 2000 Small-Cap Index Fund
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2017 (Unaudited)		Year Ended December 31, 2016			Six Months Ended June 30, 2017 (Unaudited)		Year Ended December 31, 2016
Operations
Net investment income	$	125,404,340	$	119,045,030		$	2,518,264	$	4,010,895
Net realized gain (loss)		11,382,463		(155,993,697	)		13,998,106		3,092,483
Net change in unrealized appreciation (depreciation)		680,040,565		157,381,963			7,387,651		58,844,843
Net increase in net assets resulting from operations		816,827,368		120,433,296			23,904,021		65,948,221
Distributions to Shareholders1
From net investment income:
Institutional		—		(17,200,955	)		—		(2,573,983	)
Investor A		—		(5,855,782	)		—		(1,110,447	)
Class K		—		(109,944,264	)		—		(571,127	)
From net realized gain:
Institutional		—		—			—		(7,238,603	)
Investor A		—		—			—		(3,836,781	)
Class K		—		—			—		(1,583,983	)
Decrease in net assets resulting from distributions to shareholders		—		(133,001,001	)		—		(16,914,924	)
Capital Share Transactions
Net increase in net assets derived from capital share transactions		2,736,769,682		1,958,596,053			159,195,171		112,849,771
Net Assets
Total increase in net assets		3,553,597,050		1,946,028,348			183,099,192		161,883,068
Beginning of period		4,930,286,044		2,984,257,696			406,299,772		244,416,704
End of period	$	8,483,883,094	$	4,930,286,044		$	589,398,964	$	406,299,772
Undistributed (distributions in excess of) net investment income, end of period	$	119,547,728	$	(5,856,612	)	$	2,880,997	$	362,733

¹  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	23

Financial Highlights iShares MSCI EAFE International Index Fund

	Institutional
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	11.60		$	11.81		$	12.21		$	13.11		$	11.06		$	9.63
Net investment income1		0.24			0.28			0.34			0.24			0.32			0.33
Net realized and unrealized gain (loss)		1.46			(0.16	)		(0.46	)		(1.04	)		2.04			1.45
Net increase (decrease) from investment operations		1.70			0.12			(0.12	)		(0.80	)		2.36			1.78
Distributions from net investment income2		—			(0.33	)		(0.28	)		(0.10	)		(0.31	)		(0.35	)
Net asset value, end of period	$	13.30		$	11.60		$	11.81		$	12.21		$	13.11		$	11.06
Total Return3
Based on net asset value		14.66%	4		0.99%			(0.91)%			(6.13)%			21.52%			18.58%
Ratios to Average Net Assets
Total expenses		0.07%	5		0.15%	6,7		0.12%	6,7		0.16%	6,7		0.40%	6,7		0.42%	6,7
Total expenses after fees waived and/or reimbursed and paid indirectly		0.07%	5		0.11%	6,7		0.09%	6,7		0.11%	6,7		0.35%	6,7		0.34%	6,7
Net investment income		3.86%	5		2.44%	6,7		2.68%	6,7		1.91%	6,7		2.64%	6,7		3.22%	6,7
Supplemental Data
Net assets, end of period (000)	$	565,423		$	649,763		$	2,702,936		$	1,764,794		$	71,826		$	52,589
Portfolio turnover rate		18%			42%	8		9%	9		6%	9		8%	9		21%	9

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Annualized.

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

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

⁸  Portfolio turnover rate includes transactions from Master International Index prior to August 1, 2016.

⁹  Portfolio turnover rate of Master International Index.

See Notes to Financial Statements.
24	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017

Financial Highlights (continued) iShares MSCI EAFE International Index Fund

	Investor A
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	11.54		$	11.75		$	12.12		$	13.02		$	10.99		$	9.57
Net investment income1		0.23			0.32			0.32			0.41			0.29			0.30
Net realized and unrealized gain (loss)		1.44			(0.23	)		(0.46	)		(1.25	)		2.02			1.45
Net increase (decrease) from investment operations		1.67			0.09			(0.14	)		(0.84	)		2.31			1.75
Distributions from net investment income2		—			(0.30	)		(0.23	)		(0.06	)		(0.28	)		(0.33	)
Net asset value, end of period	$	13.21		$	11.54		$	11.75		$	12.12		$	13.02		$	10.99
Total Return3
Based on net asset value		14.47%	4		0.78%			(1.14)%			(6.45)%			21.20%			18.33%
Ratios to Average Net Assets
Total expenses		0.34%	5		0.38%	6,7		0.42%	6,7		0.52%	6,7		0.69%	6,7		0.69%	6,7
Total expenses after fees waived and/or reimbursed and paid indirectly		0.34%	5		0.37%	6,7		0.37%	6,7		0.43%	6,7		0.60%	6,7		0.60%	6,7
Net investment income		3.69%	5		2.78%	6,7		2.54%	6,7		3.13%	6,7		2.41%	6,7		2.90%	6,7
Supplemental Data
Net assets, end of period (000)	$	310,032		$	238,053		$	168,008		$	332,475		$	308,624		$	223,754
Portfolio turnover rate		18%			42%	8		9%	9		6%	9		8%	9		21%	9

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Annualized.

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

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

⁸  Portfolio turnover rate includes transactions from Master International Index prior to August 1, 2016.

⁹  Portfolio turnover rate of Master International Index.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	25

Financial Highlights (concluded) iShares MSCI EAFE International Index Fund

	Class K
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	11.61		$	11.82		$	12.21		$	13.11		$	11.06		$	9.63
Net investment income1		0.25			0.38			0.28			0.34			0.28			0.22
Net realized and unrealized gain (loss)		1.45			(0.26	)		(0.38	)		(1.14	)		2.09			1.57
Net increase (decrease) from investment operations		1.70			0.12			(0.10	)		(0.80	)		2.37			1.79
Distributions from net investment income2		—			(0.33	)		(0.29	)		(0.10	)		(0.32	)		(0.36	)
Net asset value, end of period	$	13.31		$	11.61		$	11.82		$	12.21		$	13.11		$	11.06
Total Return3
Based on net asset value		14.64%	4		1.03%			(0.81)%			(6.12)%			21.57%			18.65%
Ratios to Average Net Assets
Total expenses		0.05%	5		0.07%	6,7		0.12%	6,7		0.15%	6,7		0.36%	6,7		0.33%	6,7
Total expenses after fees waived and/or reimbursed and paid indirectly		0.05%	5		0.07%	6,7		0.07%	6,7		0.11%	6,7		0.30%	6,7		0.29%	6,7
Net investment income		4.05%	5		3.25%	6,7		2.25%	6,7		2.65%	6,7		2.29%	6,7		2.11%	6,7
Supplemental Data
Net assets, end of period (000)	$	7,608,428		$	4,042,470		$	113,314		$	16,014		$	2,336		$	710
Portfolio turnover rate		18%			42%	8		9%	9		6%	9		8%	9		21%	9

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Annualized.

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

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

⁸  Portfolio turnover rate includes transactions from Master International Index prior to August 1, 2016.

⁹  Portfolio turnover rate of Master International Index.

See Notes to Financial Statements.
26	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017

Financial Highlights iShares Russell 2000 Small-Cap Index  Fund

	Institutional
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	17.76		$	15.32		$	16.60		$	17.51		$	12.99		$	11.51
Net investment income1		0.11			0.23			0.24			0.20			0.22			0.24
Net realized and unrealized gain (loss)		0.77			3.03			(0.97	)		0.56			4.83			1.61
Net increase (decrease) from investment operations		0.88			3.26			(0.73	)		0.76			5.05			1.85
Distributions:2
From net investment income		—			(0.22	)		(0.14	)		(0.26	)		(0.19	)		(0.37	)
From net realized gain		—			(0.60	)		(0.41	)		(1.41	)		(0.34	)		—
Total distributions		—			(0.82	)		(0.55	)		(1.67	)		(0.53	)		(0.37	)
Net asset value, end of period	$	18.64		$	17.76		$	15.32		$	16.60		$	17.51		$	12.99
Total Return3
Based on net asset value		4.95%	4		21.33%			(4.43)%			4.81%			39.14%			16.10%
Ratios to Average Net Assets5,6
Total expenses		0.16%	7		0.19%	8		0.22%			0.35%			0.51%			0.60%
Total expenses after fees waived and/or reimbursed		0.10%	7		0.14%	8		0.16%			0.23%			0.29%			0.28%
Net investment income		1.24%	7		1.44%	8		1.47%			1.17%			1.45%			1.88%
Supplemental Data
Net assets, end of period (000)	$	149,925		$	229,491		$	148,148		$	46,988		$	60,707		$	44,328
Portfolio turnover rate of the Series		21%			39%			37%			21%			22%			68%

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁶  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁷  Annualized.

⁸  Excludes expenses incurred indirectly of 0.01% as a result of the Series’ investments in underlying funds.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	27

Financial Highlights (continued) iShares Russell 2000 Small-Cap Index  Fund

	Investor A
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	17.78		$	15.34		$	16.61		$	17.52		$	13.01		$	11.51
Net investment income1		0.08			0.18			0.18			0.16			0.19			0.21
Net realized and unrealized gain (loss)		0.78			3.03			(0.95	)		0.56			4.82			1.62
Net increase (decrease) from investment operations		0.86			3.21			(0.77	)		0.72			5.01			1.83
Distributions:2
From net investment income		—			(0.17	)		(0.09	)		(0.22	)		(0.16	)		(0.33	)
From net realized gain		—			(0.60	)		(0.41	)		(1.41	)		(0.34	)		—
Total distributions		—			(0.77	)		(0.50	)		(1.63	)		(0.50	)		(0.33	)
Net asset value, end of period	$	18.64		$	17.78		$	15.34		$	16.61		$	17.52		$	13.01
Total Return3
Based on net asset value		4.84%	4		21.04%			(4.66)%			4.54%			38.72%			15.96%
Ratios to Average Net Assets5,6
Total expenses		0.44%	7		0.49%	8		0.53%			0.63%			0.77%			0.88%
Total expenses after fees waived and/or reimbursed		0.37%	7		0.41%	8		0.43%			0.48%			0.55%			0.55%
Net investment income		0.85%	7		1.14%	8		1.09%			0.95%			1.20%			1.64%
Supplemental Data
Net assets, end of period (000)	$	134,961		$	116,722		$	87,930		$	83,859		$	83,118		$	49,303
Portfolio turnover rate of the Series		21%			39%			37%			21%			22%			68%

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁶  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁷  Annualized.

⁸  Excludes expenses incurred indirectly of 0.01% as a result of the Series’ investments in underlying funds.

See Notes to Financial Statements.
28	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017

Financial Highlights (concluded) iShares Russell 2000 Small-Cap Index  Fund

	Class K
	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015			2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	17.79		$	15.35		$	16.62		$	17.53		$	13.01		$	11.51
Net investment income1		0.09			0.24			0.25			0.23			0.25			0.25
Net realized and unrealized gain (loss)		0.80			3.02			(0.97	)		0.54			4.81			1.62
Net increase (decrease) from investment operations		0.89			3.26			(0.72	)		0.77			5.06			1.87
Distributions:2
From net investment income		—			(0.22	)		(0.14	)		(0.27	)		(0.20	)		(0.37	)
From net realized gain		—			(0.60	)		(0.41	)		(1.41	)		(0.34	)		—
Total distributions		—			(0.82	)		(0.55	)		(1.68	)		(0.54	)		(0.37	)
Net asset value, end of period	$	18.68		$	17.79		$	15.35		$	16.62		$	17.53		$	13.01
Total Return3
Based on net asset value		5.00%	4		21.32%			(4.41)%			4.87%			39.14%			16.30%
Ratios to Average Net Assets5,6
Total expenses		0.12%	7		0.17%	8		0.21%			0.32%			0.49%			0.68%
Total expenses after fees waived and/or reimbursed		0.07%	7		0.10%	8		0.13%			0.18%			0.25%			0.25%
Net investment income		0.95%	7		1.48%	8		1.50%			1.35%			1.57%			1.99%
Supplemental Data
Net assets, end of period (000)	$	304,513		$	60,086		$	8,338		$	2,617		$	1,196		$	40
Portfolio turnover rate of the Series		21%			39%			37%			21%			22%			68%

¹  Based on average shares outstanding.

²  Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

³  Where applicable, assumes the reinvestment of distributions.

⁴  Aggregate total return.

⁵  Includes the Fund’s share of the Series’ allocated expenses and/or net investment income.

⁶  Includes the Fund’s share of the Series’ allocated fees waived of less than 0.01%.

⁷  Annualized.

⁸  Excludes expenses incurred indirectly of 0.01% as a result of the Series’ investments in underlying funds.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	29

Notes to Financial Statements BlackRock Index Funds, Inc.

1. Organization:

iShares MSCI EAFE International Index Fund and iShares Russell 2000 Small-Cap Index 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. The following are referred to herein collectively as the “Funds” or individually, a “Fund”:

Fund Name	Herein Referred To As	Diversification Classification
iShares MSCI EAFE International Index Fund	International Index	Diversified
iShares Russell 2000 Small-Cap Index Fund	Small-Cap Index	Diversified

Small-Cap Index seeks to achieve its investment objectives by investing all of its assets in Master Small Cap Index Series (the “Series”), a series of Quantitative Master Series LLC (the “Master LLC”), an affiliate of Small-Cap Index, which has the same investment objectives and strategies as Small-Cap Index. The value of Small-Cap Index’s investment in the Series reflects Small-Cap Index’s proportionate interest in the net assets of the Series. The performance of Small-Cap Index is directly affected by the performance of the Series. At June 30, 2017, the percentage of Series owned by the Small-Cap Index was 65.0%. The financial statements of the Series, including the Schedule of Investments, are included elsewhere in this report and should be read in conjunction with the Small-Cap Index’s financial statements.

Each Fund offers multiple classes of shares. All classes of shares have identical voting, dividend, liquidation and other rights and are subject to the same terms and conditions, except that certain classes bear expenses related to the shareholder servicing and distribution of such shares. Institutional and Class K Shares are sold without a sales charge and only to certain eligible investors. Investor A Shares are sold without a sales charge and are generally available through financial intermediaries. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures. The Board of Directors of the Corporation and Board of Directors of the Master LLC are referred to throughout this report as the “Board of Directors” or the “Board” and the members are referred to as “Directors.”

Share Class	Initial Sales Charge	CDSC	Conversion Privilege
Institutional Shares	No	No	None
Investor A Shares	No	No	None
Class K Shares	No	No	None

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

2. Significant Accounting Policies:

The 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, disclosure of contingent assets and liabilities at the date of 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. Below is a summary of significant accounting policies:

Investment Transactions and Income Recognition: For International Index, for financial reporting purposes, investment transactions are recorded on the dates the transactions are entered into (the “trade dates”). 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 International Index 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. For Small-Cap Index, for financial reporting purposes, contributions to and withdrawals from the Series are accounted for on a trade date basis. Small-Cap Index records its proportionate share of the Series’ income, expenses and realized and unrealized gains and losses on a daily basis.

Foreign Currency Translation: International Index’s books and records are maintained in U.S. dollars. 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 trading on the NYSE. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

International Index does not isolate the portion of the results of operations arising as a result of changes in the exchange rates from the changes in the market prices of investments held or sold for financial reporting purposes. Accordingly, the effects of changes in 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. International Index reports 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 U.S. federal income tax purposes.

30 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

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

Segregation and Collateralization: In cases where International Index enters into certain investments (e.g., futures contracts) that would be treated as “senior securities” for 1940 Act purposes, International Index may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its 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, International Index 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.

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

SEC Reporting Modernization: The U.S. Securities and Exchange Commission (“SEC”) adopted new rules and forms and amended other rules to enhance the reporting and disclosure of information by registered investment companies. As part of these changes, the SEC amended Regulation S-X to standardize and enhance disclosures in investment company financial statements. The compliance date for implementing the new or amended rules is August 1, 2017.

Indemnifications: In the normal course of business, a Fund enters into contracts that contain a variety of representations that provide general indemnification. A Fund’s maximum exposure under these arrangements is unknown because it involves future potential claims against a Fund, which cannot be predicted with any certainty.

Other: Expenses directly related to a Fund or its classes are charged to that Fund or the applicable class. Other operating expenses shared by several funds, including other funds managed by the Manager and/or Administrator, are prorated among those funds on the basis of relative net assets or other appropriate methods. Expenses directly related to the Funds and other shared expenses prorated to the Funds are allocated daily to each class based on their relative net assets or other appropriate methods.

Through May 31, 2016, the Funds had an arrangement with their custodian whereby credits were earned on uninvested cash balances, which could be used to reduce custody fees and/or overdraft charges. Credits previously earned have been utilized until December 31, 2016. Under current arrangements effective June 1, 2016, the Funds no longer earn credits on uninvested cash, and may incur charges on uninvested cash balances and overdrafts, subject to certain conditions.

3. Investment Valuation and Fair Value Measurements:

Investment Valuation Policies: 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. International Index’s investments are valued at fair value (also referred to as “market value” within the financial statements) as of the close of trading on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m., Eastern time). U.S. GAAP defines fair value as the price the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. International Index determines the fair values of its financial instruments using various 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 oversee the pricing function for all financial instruments.

Small-Cap Index’s policy is to value its financial instruments at fair value. Small-Cap Index records its investment in the Series at fair value based on Small-Cap Index’s proportionate interest in the net assets of the Series. Valuation of securities held by the Series is discussed in Note 3 of the Series Notes to Financial Statements, which are included elsewhere in this report.

Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of International Index’s assets and liabilities:

• Equity investments traded on a recognized securities exchange are valued at the official closing price each day, if available. For equity investments traded on more than one exchange, the official closing 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 may be valued at the last available bid (long positions) or ask (short positions) price.

• Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the NYSE. Occasionally, events affecting the values of such instruments may occur between the foreign market close and the close of trading on the NYSE that may not be reflected in the computation of the International Index’s net assets. Each business day, International Index uses 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 trading on the NYSE, which follows the close of the local markets.

• Investments in open-end U.S. mutual funds are valued at net asset value (“NAV”) each business day.

• The Fund values its investment in SL 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 may follow the parameters of investments by a money market fund that is subject to Rule 2a-7 under the 1940 Act.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 31

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

• Futures contracts traded on exchanges are valued at their last sale price.

• Forward foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of trading on the NYSE. Interpolated values are derived when the settlement date of the contract is an interim date for which quotations are not available.

If events (e.g., a company announcement, market volatility or a natural disaster) occur that are expected to materially affect the value of such investments, or 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 Valued Investments”). The fair valuation approaches that may be used by the Global Valuation Committee include Market approach, Income approach and Cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and typically used in determining fair value. When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that International Index might reasonably expect to receive or pay from the current sale or purchase of that asset or liability 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 and consistent with the principles of fair value measurement.

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 International Index’s 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 Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis. As a result of the inherent uncertainty in valuation of these investments, the fair values may differ from the values that would have been used had an active market existed.

For investments in equity or debt issued by privately-held companies or funds (“Private Company” or collectively, the “Private Companies”) and other Fair Valued Investments, the fair valuation approaches that are used by third party pricing services utilize one or a combination of, but not limited to, the following inputs.

	Standard Inputs Generally Considered By Third Party Pricing Services
Market approach	(i)      recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii)     recapitalizations and other transactions across the capital structure; and (iii)    market multiples of comparable issuers.
Income approach	(i)      future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks; (ii)     quoted prices for similar investments or assets in active markets; and (iii)    other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates.
Cost approach	(i)      audited or unaudited financial statements, investor communications and financial or operational metrics issued by the Private Company; (ii)     changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii)    relevant news and other public sources; and (iv)    known secondary market transactions in the Private Company’s interests and merger or acquisition activity in companies comparable to the Private Company.

Investments in series of preferred stock issued by Private Companies are typically valued utilizing Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”) or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.

The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by International Index. Typically, the most recently available information by a Private Company is as of a date that is earlier than the date International Index is calculating its NAV. This factor may result in a difference between the value of the investment and the price International Index could receive upon the sale of the investment.

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

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

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

32 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

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

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including International Index 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. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by Private Companies. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with International Index’s policy, transfers between different levels of the fair value 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 investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

4. Securities and Other Investments:

Preferred Stocks: 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: International Index may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with International Index 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 collateral received by International Index is required to have a value of 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 International Index and any additional required collateral is delivered to International Index, or excess collateral returned by International Index, on the next business day. During the term of the loan, International Index is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

The market value of any securities on loan, all of which were classified as common stocks in International Index’s Schedule of Investments, and the value of any related collateral are shown separately in the Statements of Assets and Liabilities as a component of investments at value-unaffiliated, and collateral on securities loaned at value, respectively. As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested by the securities lending agent, BlackRock Institutional Trust Company, N.A. (“BTC”), if any, is disclosed in the Schedule of Investments.

Securities lending transactions are entered into by International Index 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, International Index, 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, absent an event of default, the borrower can resell or re-pledge the loaned securities, and International Index can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 33

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

As of period end, the following table is a summary of International Index’s securities lending agreements by counterparty which are subject to offset under an MSLA:

Counterparty	Securities Loaned at Value		Cash Collateral Received1			Net Amount
Credit Suisse Securities (USA) LLC.	$	1,413,413	$	(1,413,413	)		—
Total	$	1,413,413	$	(1,413,413	)		—

¹  Cash collateral with a value of $ 1,468,745 has been received in connection with securities lending agreements. Collateral received in excess of the value of securities loaned 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, International Index benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned if the collateral received does not cover the value on the securities loaned in the event of borrower default. International Index could incur 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.

5. Derivative Financial Instruments:

International Index engages in various portfolio investment strategies using derivative contracts both to increase the returns of the Fund and/or to manage its exposure to certain risks such as credit risk, equity risk, interest rate risk, foreign currency exchange rate risk, commodity price risk or other risks (e.g., inflation risk). Derivative financial instruments categorized by risk exposure are included in the Schedule of Investments. These contracts may be transacted on an exchange or OTC.

Futures Contracts: Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk), changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are agreements between International Index and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, International Index is 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 in the Schedule of Investments and cash deposited, if any, is shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, International Index agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations 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 futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest, foreign currency exchange rates or underlying assets.

6. Investment Advisory and Administration Agreements and Other Transactions with Affiliates:

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

Investment Advisory and Administration: The Corporation, on behalf of International Index, entered into an Investment Advisory Agreement with the Manager, International Index’s investment adviser, an indirect, wholly-owned subsidiary of BlackRock, to provide investment advisory and administration services. The Manager is responsible for the management of International Index’s portfolio and provides the personnel, facilities, equipment and certain other services necessary to the operations of International Index. For such services, International Index pays the Manager a monthly fee at an annual rate of 0.01% of the average daily value of the Fund’s net assets.

With respect to the International Index, the Manager entered into a separate sub-advisory agreement with BlackRock Fund Advisors (“BFA”), an affiliate of the Manager. The Manager pays BFA, for services it provides, a monthly fee that is a percentage of the investment advisory fees paid by the Series to the Manager.

The Corporation, on behalf of Small-Cap Index, entered into an Administration Agreement with the Administrator, an indirect, wholly-owned subsidiary of BlackRock, to provide administrative services (other than investment advice and related portfolio activities). For such services, Small-Cap Index pays the Administrator a monthly fee at an annual rate of 0.04% of the average daily net assets of Small-Cap Index. Small-Cap Index does not pay an investment advisory fee or investment management fee.

34 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

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

Service Fees: The Corporation, on behalf of the Funds, entered into a Distribution Agreement and a Distribution Plan with BlackRock Investments, LLC (“BRIL”), an affiliate of the Manager and/or Administrator. Pursuant to the Distribution Plan and in accordance with Rule 12b-1 under the 1940 Act, each Fund pays BRIL ongoing service and distribution fees. The fees are accrued daily and paid monthly at annual rates based upon the average daily net assets of the relevant share class of each Fund as follows:

	International Index		Small-Cap Index
Investor A		0.25%		0.25%

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

For the six months ended June 30, 2017, the following table shows the class specific service fees borne directly by each share class of each Fund:

	International Index		Small-Cap Index
Investor A	$	339,907	$	157,800

Transfer Agent: The Manager and/or Administrator maintains a call center that is responsible for providing certain shareholder services to the Funds. Shareholder services include responding to inquiries and processing subscriptions and redemptions transactions based upon instructions from shareholders. For the six months ended June 30, 2017, each Fund reimbursed the Manager and/or 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:

	Institutional		Investor A		Class K		Total
International Index		—		—	$	2,876	$	2,876
Small-Cap Index	$	291	$	1,054	$	92	$	1,437

For the six months ended June 30, 2017, the following table shows the class specific transfer agent fees borne directly by each class of each Fund:

	Institutional		Investor A		Class K		Total
International Index	$	101,737	$	67,609	$	265,612	$	434,958
Small-Cap Index	$	31,938	$	39,140	$	1,834	$	72,912

Expense Limitations, Waivers and Reimbursements: With respect to each Fund, the Manager and/or Administrator contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, tax expense, acquired fund fees and expenses, and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of each Fund’s business (“expense limitation”). The expense limitations as a percentage of each Fund’s average daily net assets are as follows:

Institutional	0.12%
Investor A	0.37%
Class K	0.07%

The Manager and/or Administrator has agreed not to reduce or discontinue these contractual expense limitations through April 30, 2018, unless approved by the Board, including a majority of the directors who are not “interested persons” of the Funds, as defined in the 1940 Act (“Independent Directors”), or by a vote of a majority of the outstanding voting securities of a Fund. For the six months ended June 30, 2017, the Manager and/or Administrator waived and/or reimbursed the following amounts, which are shown as fees waived by the Manager, fees waived by the Administrator and fees reimbursed by the Administrator in the Statements of Operations.

	Institutional		Investor A		Class K		Total
International Index	$	1,475	$	657	$	13,329	$	15,461
Small-Cap Index	$	54,438	$	33,142	$	38,562	$	126,142

With respect to International Index, the Manager voluntarily agreed to waive its investment advisory fees by the amount of investment advisory fees the Fund pays to the Manager indirectly through its investment in affiliated money market funds (the “affiliated money market fund waiver”). This amount is included in fees waived by the Manager in the Statements of Operations. The amount of waivers and/or reimbursements of fees and expenses made pursuant to the expense limitation caps, as applicable, will be reduced by the amount of the affiliated money market fund waiver. For the six months ended June 30, 2017, the amount waived was $15,115.

The Manager has voluntarily agreed to waive its investment advisory fee with respect to any portion of the International Index’s assets invested in affiliated equity and fixed-income mutual funds and affiliated exchange-traded funds that have a contractual management fee. Effective April 28, 2017, the waiver became contractual through April 30, 2018. The contractual agreement may be terminated upon 90 days’ notice by a majority of the Independent Directors or by a vote of a majority of the outstanding voting securities of International Index. This amount is included in fees waived by the Manager in the Statements of Operations. For the six months ended June 30, 2017, there were $346 fees waived by the Manager.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 35

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

For the six months ended June 30, 2017, the amounts shown as transfer agent fees waived and/or reimbursed-class specific were as follows:

	Institutional		Investor A		Class K		Total
International Index		—		—	$	17,375	$	17,375
Small-Cap Index	$	924	$	7,737	$	1,833	$	10,494

Securities Lending: The SEC has issued an exemptive order which permits BTC, an affiliate of the Manager, to serve as securities lending agent for International Index, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. International Index is 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, BTC has agreed to cap the collateral investment expenses of the private investment company to an annual rate of 0.04%. The investment adviser to the private investment company will not charge any advisory fees with respect to shares purchased by International Index. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% on the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

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. International Index retains a portion of securities lending income and remits a remaining portion to BTC as compensation for its services as securities lending agent. Pursuant to a securities lending agreement, BTC 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, International Index retains 80% of securities lending income. In addition, commencing the business day following the date that the aggregate securities lending income earned across certain funds in the Equity-Liquidity Complex in a calendar year exceeds a specified threshold, International Index, 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 June 12, 2017, BlackRock Investment Management, LLC (“BIM”) was International Index’s securities lending agent.

The share of securities lending income earned by International Index is shown as securities lending income – affiliated – net in the Statements of Operations. For the six months ended June 30, 2017, International index paid BIM $51,872 and BTC $847 for securities lending agent services.

Interfund Lending: In accordance with an exemptive order (the “Order”) from the SEC, each Fund may participate in a joint lending and borrowing facility for temporary purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by each Fund’s investment policies and restrictions. Each Fund is currently permitted to borrow and lend under the Interfund Lending Program.

A lending BlackRock fund may lend in aggregate up to 15% of its net assets, but may not lend more than 5% of its net assets, to any one borrowing fund through the Interfund Lending Program. A borrowing BlackRock fund may not borrow through the Interfund Lending Program or from any other source more than 33 1/3% of its total assets (or any lower threshold provided for by the fund’s investment restrictions). If a borrowing BlackRock fund’s total outstanding borrowings exceed 10% of its total assets, each of its outstanding interfund loans will be subject to collateralization of at least 102% of the outstanding principal value of the loan. All interfund loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the highest current overnight repurchase agreement rate available to a lending fund and the bank loan rate, as calculated according to a formula established by the Board.

During the period ended June 30, 2017, the Funds did not participate in the Interfund Lending Program.

Officers and Directors: Certain officers and/or directors of the Corporation are officers and/or directors of BlackRock or its affiliates. The Funds reimburse the Manager and/or Administrator for a portion of the compensation paid to the Corporation’s Chief Compliance Officer, which is included in Officer in the Statements of Operations.

7. Purchases and Sales:

For International Index, for the six months ended June 30, 2017, purchases and sales of investments, excluding short-term securities were $4,034,627,603 and $1,112,924,577, respectively.

8. Income Tax Information:

It is each Fund’s 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 U.S. federal income tax provision is required.

Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s U.S. federal tax returns generally remains open for each of the four years ended December 31, 2016. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.

36 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

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

Management has analyzed tax laws and regulations and their application to the Funds as of June 30, 2017, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

As of December 31, 2016, International Index had a capital loss carryforward available to offset future realized capital gains through the indicated expiration dates as follows:

Expires December 31,	International Index
No expiration date1	$	160,069,480
2017		6,596,186
2018		—
Total	$	166,665,666

¹  Must be utilized prior to losses subject to expiration.

As of June 30, 2017, International Index’s gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

Tax cost	$	8,084,645,905
Gross unrealized appreciation	$	837,711,810
Gross unrealized depreciation		(206,571,458	)
Net unrealized appreciation	$	631,140,352

9. Bank Borrowings:

The Corporation, on behalf of International Index, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $2.1 billion credit agreement with a group of lenders. Under this agreement, International Index may borrow to fund shareholder redemptions. Excluding commitments designated for certain individual funds, the Participating Funds, including International Index, can borrow up to an aggregate commitment amount of $1.6 billion at any time outstanding, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.12% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) one-month LIBOR (but, in any event, not less than 0.00%) on the date the loan is made plus 0.80% per annum or (b) the Fed Funds rate (but, in any event, not less than 0.00%) in effect from time to time plus 0.80% per annum on amounts borrowed. The agreement expires in April 2018 unless extended or renewed. Participating Funds paid administration, legal and arrangement fees, which, if applicable, are included in miscellaneous expenses in the Statements of Operations. These fees were allocated among such funds based upon portions of the aggregate commitment available to them and relative net assets of Participating Funds. During the six months ended June 30, 2017, International Index did not borrow under the credit agreement.

10. Principal Risks:

In the normal course of business, International Index invests in securities and enters into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer to meet all its obligations, including the ability to pay principal and interest when due (issuer credit risk). The value of securities held by International Index may decline in response to certain events, including those directly involving the issuers of securities owned by International Index. Changes arising from the general economy, the overall market and local, regional or global political and/or social instability, as well as currency, interest rate and price fluctuations, may also affect the securities’ value.

On October 11, 2016, BlackRock implemented certain changes required by amendments to Rule 2a-7 under the 1940 Act, which governs the operations of U.S. money market funds. International Index may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00 and which may be subject to redemption gates or liquidity fees under certain circumstances.

Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. International Index may invest in illiquid investments and may experience difficulty in selling those investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause International Index’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of International Index may lose value, regardless of the individual results of the securities and other instruments in which International Index invests.

The price International Index could receive upon the sale of any particular portfolio investment may differ from International Index’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore International Index’s results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by International Index, and International Index could realize a

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 37

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

greater than expected loss or lesser than expected gain upon the sale of the investment. International Index’s ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third party service providers.

Counterparty Credit Risk: Similar to issuer credit risk, International Index may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions. International Index manages counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose International Index to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of International Index’s exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by International Index.

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.

With exchange-traded futures, there is less counterparty credit risk to International Index 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, International Index 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). 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 International Index.

Concentration Risk: 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 International Index’s investments.

The United Kingdom voted on June 23, 2016 to withdraw from the European Union, which may introduce significant new uncertainties and instability in the financial markets across Europe.

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

As of period end, International Index’s investments had the following industry classifications:

Industry	Percent of Net Assets
Bank		12	%
Pharmaceuticals		8
Insurance		5
Oil, Gas & Consumable Fuels		5
Other1		70

¹ All other industries held was less than 5% of net assets.

38 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

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

11. Capital Share Transactions:

Transactions in capital shares for each class were as follows:

	Six Months Ended June 30, 2017						Year Ended December 31, 2016
International Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		18,387,015		$	227,403,731			46,940,980		$	539,320,569
Shares issued in reinvestment of distributions		—			—			1,417,534			16,387,510
Shares redeemed		(31,882,142	)		(398,606,182	)		(221,253,679	)		(2,359,024,651	)
Net decrease		(13,495,127	)	$	(171,202,451	)		(172,895,165	)	$	(1,803,316,572	)
Investor A
Shares sold		7,167,831		$	89,583,969			12,259,774		$	140,963,736
Shares issued in reinvestment of distributions		—			—			506,036			5,814,683
Shares redeemed		(4,328,885	)		(53,777,151	)		(6,435,224	)		(74,118,861	)
Net increase		2,838,946		$	35,806,818			6,330,586		$	72,659,558
Class K
Shares sold		259,861,807		$	3,334,243,399			470,599,166		$	5,227,329,648
Shares issued in reinvestment of distributions		—			—			7,791,229			90,071,735
Shares redeemed		(36,450,054	)		(462,078,084	)		(139,807,306	)		(1,628,148,316	)
Net increase		223,411,753		$	2,872,165,315			338,583,089		$	3,689,253,067
Total Net Increase		212,755,572		$	2,736,769,682			172,018,510		$	1,958,596,053
Small-Cap Index
Institutional
Shares sold		3,029,342		$	54,863,777			9,719,997		$	152,952,403
Shares issued in reinvestment of distributions								548,537			9,697,642
Shares redeemed		(7,906,048	)		(142,550,889	)		(7,016,158	)		(110,173,690	)
Net increase (decrease)		(4,876,706	)	$	(87,687,112	)		3,252,376		$	52,476,355
Investor A
Shares sold		1,966,381		$	35,601,027			2,332,975		$	36,799,680
Shares issued in reinvestment of distributions		—			—			269,661			4,760,921
Shares redeemed		(1,290,937	)		(23,499,795	)		(1,768,237	)		(28,054,830	)
Net increase		675,444		$	12,101,232			834,399		$	13,505,771
Class K
Shares sold		14,068,977		$	255,575,515			3,338,773		$	54,919,479
Shares issued in reinvestment of distributions		—			—			121,360			2,155,111
Shares redeemed		(1,142,550	)		(20,794,464	)		(626,556	)		(10,206,945	)
Net increase		12,926,427		$	234,781,051			2,833,577		$	46,867,645
Total Net Increase		8,725,165		$	159,195,171			6,920,352		$	112,849,771

12. 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, 2017 39

Series Portfolio Information as of June 30, 2017 Quantitative Master Series LLC

Master Small Cap Index Series

Ten Largest Holdings	Percent of Net Assets
iShares Russell 2000 ETF		0.4	%
Kite Pharma, Inc.		0.3
Bluebird Bio, Inc.		0.2
Gramercy Property Trust		0.2
Catalent, Inc.		0.2
HealthSouth Corp.		0.2
Medidata Solutions, Inc.		0.2
PAREXEL International Corp.		0.2
IDACORP, Inc.		0.2
Fair Isaac Corp.		0.2

Sector Allocation	Percent of Net Assets
Financials		18	%
Information Technology		16
Health Care		15
Industrials		14
Consumer Discretionary		12
Real Estate		7
Materials		4
Utilities		4
Energy		4
Consumer Staples		3
Telecommunication Services		1
Short-Term Securities		3
Liabilities in Excess of Other Assets		(1	)

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

40 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments June 30, 2017 (Unaudited) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Advertising Agencies — 0.2%
Clear Channel Outdoor Holdings, Inc., Class A		16,265	$	78,885
Cogint, Inc. (a)		8,934		45,117
Emerald Expositions Events, Inc.		7,439		162,914
MDC Partners, Inc., Class A		25,686		254,291
National CineMedia, Inc.		28,609		212,279
QuinStreet, Inc. (a)		17,411		72,604
Trade Desk, Inc., Class A (a)		7,934		397,573
Viad Corp.		9,345		441,551
				1,665,214
Aerospace — 1.1%
AAR Corp.		14,611		507,878
Aerojet Rocketdyne Holdings, Inc. (a)		31,757		660,546
Aerovironment, Inc. (a)		9,550		364,810
Astronics Corp. (a)		9,733		296,565
Axon Enterprise, Inc. (a)		23,584		592,902
Cubic Corp.		11,558		535,135
Curtiss-Wright Corp.		19,630		1,801,641
Ducommun, Inc. (a)		4,840		152,847
Esterline Technologies Corp. (a)		11,447		1,085,176
Kaman Corp.		12,212		609,012
KLX, Inc. (a)		23,758		1,187,900
Kratos Defense & Security Solutions, Inc. (a)		32,588		386,820
Moog, Inc., Class A (a)		14,512		1,040,801
Triumph Group, Inc.		22,689		716,972
				9,939,005
Agriculture, Fishing & Ranching — 0.4%
Alico, Inc.		1,574		49,266
Andersons, Inc.		12,619		430,939
Cadiz, Inc. (a)		9,150		123,525
Cal-Maine Foods, Inc. (a)(b)		13,226		523,750
Calavo Growers, Inc.		7,306		504,479
Fresh Del Monte Produce, Inc.		15,106		769,047
Limoneira Co.		5,348		126,373
Sanderson Farms, Inc.		9,079		1,049,986
				3,577,365
Air Transport — 0.5%
Air Transport Services Group, Inc. (a)		23,770		517,711
Allegiant Travel Co.		5,892		798,955
Atlas Air Worldwide Holdings, Inc. (a)		10,686		557,275
Bristow Group, Inc.		14,966		114,490
Era Group, Inc. (a)		8,780		83,059
Hawaiian Holdings, Inc. (a)		24,049		1,129,100
PHI, Inc. (a)		5,893		57,516
SkyWest, Inc.		23,023		808,107
				4,066,213
Alternative Energy — 0.2%
Ameresco, Inc., Class A (a)		9,001		69,308
EnerNOC, Inc. (a)		13,267		102,819
EP Energy Corp., Class A (a)		16,244		59,453
Green Brick Partners, Inc. (a)		9,651		110,504
Green Plains, Inc.		17,903		367,907
REX American Resources Corp. (a)		2,709		261,581
TerraForm Global, Inc., Class A (a)		40,427		204,156
TerraForm Power, Inc., Class A (a)		37,302		447,624
Vivint Solar, Inc. (a)		11,452		66,994
				1,690,346
Aluminum — 0.1%
Century Aluminum Co. (a)		23,120		360,210
Kaiser Aluminum Corp.		7,724		683,728
				1,043,938
Asset Management & Custodian — 0.7%
Arlington Asset Investment Corp., Class A		4,608		62,991

Common Stocks	Shares		Value
Asset Management & Custodian (continued)
Artisan Partners Asset Management, Inc., Class A		20,839	$	639,757
B. Riley Financial, Inc.		6,171		114,472
Cohen & Steers, Inc.		10,237		415,008
Cowen, Inc., Class A (a)		12,648		205,530
Diamond Hill Investment Group, Inc.		1,521		303,287
Fifth Street Asset Management, Inc.		6,582		31,923
Financial Engines, Inc.		26,912		984,979
GAMCO Investors, Inc., Class A		2,292		67,843
Hamilton Lane, Inc., Class A		6,512		143,199
KCG Holdings, Inc., Class A (a)		21,008		418,900
Medley Management, Inc.		4,375		28,438
OM Asset Management PLC		26,113		388,039
Oppenheimer Holdings, Inc., Class A		4,802		78,753
PJT Partners, Inc., Class A		8,446		339,698
Pzena Investment Management, Inc., Class A		8,388		85,222
Silvercrest Asset Management Group, Inc., Class A		4,064		54,661
Virtus Investment Partners, Inc.		3,165		351,157
Waddell & Reed Financial, Inc., Class A		31,126		587,659
Westwood Holdings Group, Inc.		3,822		216,669
Wins Finance Holdings, Inc. (a)		514		107,940
WisdomTree Investments, Inc.		45,735		465,125
				6,091,250
Auto Parts — 0.8%
American Axle & Manufacturing Holdings, Inc. (a)		38,050		593,580
Dana, Inc.		64,305		1,435,931
Dorman Products, Inc. (a)		12,451		1,030,569
Fox Factory Holding Corp. (a)		16,013		570,063
Gentherm, Inc. (a)		16,639		645,593
Horizon Global Corp. (a)		11,642		167,179
Meritor, Inc. (a)		38,509		639,634
Standard Motor Products, Inc.		9,669		504,915
Stoneridge, Inc. (a)		12,805		197,325
Superior Industries International, Inc.		10,901		224,016
Tenneco, Inc.		24,312		1,405,963
Tower International, Inc.		9,109		204,497
				7,619,265
Auto Services — 0.1%
Cooper Tire & Rubber Co.		24,325		878,132
Back Office Support, HR & Consulting — 1.8%
Advisory Board Co. (a)		18,615		958,672
Angie’s List, Inc. (a)		18,576		237,587
Barrett Business Services, Inc.		3,124		178,974
BG Staffing, Inc.		2,994		52,036
CBIZ, Inc. (a)		23,832		357,480
Convergys Corp.		43,265		1,028,842
CRA International, Inc.		3,956		143,682
DHI Group, Inc. (a)		20,767		59,186
ExlService Holdings, Inc. (a)		14,934		830,032
Forrester Research, Inc.		4,583		179,424
FTI Consulting, Inc. (a)		19,013		664,694
GP Strategies Corp. (a)		5,927		156,473
Hackett Group, Inc.		10,943		169,617
Heidrick & Struggles International, Inc.		8,786		191,095
Huron Consulting Group, Inc. (a)		10,222		441,590
ICF International, Inc. (a)		8,451		398,042
Insperity, Inc.		8,357		593,347
Kelly Services, Inc., Class A		14,299		321,013
Kforce, Inc.		11,021		216,012
Korn/Ferry International		23,471		810,454
Liquidity Services, Inc. (a)		11,774		74,765
MAXIMUS, Inc.		28,847		1,806,688
Navigant Consulting, Inc. (a)		21,708		428,950
NV5 Global Inc. (a)		3,633		154,403
On Assignment, Inc. (a)		23,155		1,253,843
Paylocity Holding Corp. (a)		11,854		535,564

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 41

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Back Office Support, HR & Consulting (continued)
Resources Connection, Inc.		13,166	$	180,374
RPX Corp. (a)		21,305		297,205
ServiceSource International, Inc. (a)		33,005		128,059
StarTek, Inc. (a)		4,727		57,858
Sykes Enterprises, Inc. (a)		18,148		608,502
TeleTech Holdings, Inc.		6,622		270,178
TriNet Group, Inc. (a)		18,780		614,857
TrueBlue, Inc. (a)		19,105		506,282
WageWorks, Inc. (a)		17,120		1,150,464
				16,056,244
Banks: Diversified — 9.5%
1st Source Corp.		7,335		351,640
Access National Corp.		6,768		179,487
ACNB Corp.		2,848		86,864
Allegiance Bancshares, Inc. (a)		5,092		195,024
Ambac Financial Group, Inc. (a)		11,687		202,769
American National Bankshares, Inc.		3,902		144,179
Ameris Bancorp		15,957		769,127
Ames National Corp.		3,923		120,044
Arrow Financial Corp.		5,238		165,783
ASB Bancorp, Inc. (a)		1,204		52,916
Atlantic Capital Bancshares, Inc. (a)		9,394		178,486
Bancfirst Corp.		3,837		370,654
Banco Latinoamericano de Comercio Exterior SA		14,191		388,550
Bancorp, Inc. (a)		23,931		181,397
BancorpSouth, Inc.		39,570		1,206,885
Bank of Commerce Holdings		6,365		70,333
Bank of Marin Bancorp		2,784		171,355
Bank of NT Butterfield & Son Ltd.		24,441		833,438
Bankwell Financial Group, Inc.		2,617		81,729
Banner Corp.		15,077		852,001
Bar Harbor Bankshares		6,958		214,446
BCB Bancorp, Inc.		3,985		60,971
Beneficial Bancorp, Inc.		31,891		478,365
Boston Private Financial Holdings, Inc.		38,028		583,730
Bridge Bancorp, Inc.		8,652		288,112
Bryn Mawr Bank Corp.		7,696		327,080
C&F Financial Corp.		1,516		71,100
Cadence BanCorp (a)		3,998		87,476
Camden National Corp.		7,113		305,219
Capital City Bank Group, Inc.		4,620		94,340
Capitol Federal Financial, Inc.		59,143		840,422
Capstar Financial Holdings, Inc. (a)		3,575		63,420
Carolina Financial Corp.		6,641		214,637
Cathay General Bancorp		34,441		1,307,036
Centerstate Banks, Inc.		24,752		615,335
Central Pacific Financial Corp.		13,227		416,254
Central Valley Community Bancorp		4,209		93,271
Century Bancorp, Inc., Class A		1,368		87,005
Charter Financial Corp.		6,231		112,158
Chemical Financial Corp.		32,410		1,568,968
Chemung Financial Corp.		1,486		60,748
Citizens & Northern Corp.		5,294		123,138
City Holding Co.		7,073		465,899
Civista Bancshares, Inc.		4,240		88,531
CNB Financial Corp.		6,696		160,503
CoBiz Financial, Inc.		17,271		300,515
Codorus Valley Bancorp, Inc.		3,598		102,183
Columbia Banking System, Inc.		25,432		1,013,465
Commerce Union Bancshares, Inc.		2,748		65,595
Community Bank System, Inc.		22,495		1,254,546
Community Bankers Trust Corp. (a)		9,032		74,514
The Community Financial Corp.		1,662		63,987
Community Trust Bancorp, Inc.		7,110		311,062
ConnectOne Bancorp, Inc.		13,672		308,304
County Bancorp, Inc.		1,834		44,016

Common Stocks	Shares		Value
Banks: Diversified (continued)
CU Bancorp (a)		7,804	$	282,115
Customers Bancorp, Inc. (a)		13,002		367,697
CVB Financial Corp.		47,163		1,057,866
DNB Financial Corp.		1,174		40,268
Eagle Bancorp, Inc. (a)		14,429		913,356
Enterprise Bancorp, Inc.		4,219		149,943
Enterprise Financial Services Corp.		10,352		422,362
Equity Bancshares, Inc., Class A (a)		4,741		145,264
Evans Bancorp, Inc.		1,923		76,824
Farmers & Merchants Bancorp Inc./Archbold		1,677		103,974
Farmers Capital Bank Corp.		3,472		133,846
Farmers National Banc Corp.		12,402		179,829
FB Financial Corp. (a)		3,166		114,578
Fidelity Southern Corp.		10,084		230,520
Financial Institutions, Inc.		6,818		203,176
First Bancorp, Inc.		4,867		131,701
First Bancorp, North Carolina		11,080		346,361
First BanCorp, Puerto Rico (a)		76,395		442,327
The First Bancshares, Inc.		3,611		99,664
First Busey Corp.		14,826		434,698
First Business Financial Services, Inc.		3,687		85,096
First Citizens BancShares, Inc., Class A		3,342		1,245,563
First Commonwealth Financial Corp.		44,260		561,217
First Community Bancshares, Inc.		7,537		206,137
First Community Financial Partners, Inc. (a)		7,301		94,183
First Connecticut Bancorp, Inc.		6,516		167,135
First Financial Bancorp		28,006		775,766
First Financial Bankshares, Inc.		28,936		1,278,971
First Financial Corp.		4,883		230,966
First Foundation, Inc. (a)		12,561		206,377
First Guaranty Bancshares, Inc.		1,454		39,607
First Internet Bancorp		2,992		83,926
First Interstate Bancsystem, Inc., Class A		11,773		437,956
First Merchants Corp.		18,774		753,588
First Mid-Illinois Bancshares, Inc.		4,503		154,183
First Midwest Bancorp, Inc.		46,695		1,088,460
First Northwest Bancorp (a)		5,013		79,055
First of Long Island Corp.		10,589		302,845
Flagstar Bancorp, Inc. (a)		9,849		303,546
FNB Bancorp.		2,107		57,858
Franklin Financial Network, Inc. (a)		5,268		217,305
Fulton Financial Corp.		78,315		1,487,985
German American Bancorp, Inc.		9,871		336,502
Glacier Bancorp, Inc.		35,092		1,284,718
Great Western Bancorp, Inc.		25,834		1,054,286
Guaranty Bancorp		10,669		290,197
Guaranty Bancshares, Inc.		840		26,838
Hancock Holding Co.		38,421		1,882,629
Hanmi Financial Corp.		14,600		415,370
HarborOne Bancorp, Inc. (a)		6,018		120,119
Heartland Financial USA, Inc.		11,235		529,168
Heritage Commerce Corp.		16,143		222,451
Home BancShares, Inc.		59,049		1,470,320
Hope Bancorp, Inc.		59,507		1,109,806
Horizon Bancorp		9,640		254,014
Howard Bancorp, Inc. (a)		3,573		68,780
Iberiabank Corp.		22,533		1,836,439
Independent Bank Corp.		21,073		1,004,861
Independent Bank Group, Inc.		8,068		480,046
International Bancshares Corp.		25,000		876,250
Investar Holding Corp.		3,441		78,799
Lakeland Bancorp, Inc.		20,438		385,256
Lakeland Financial Corp.		10,283		471,784
LCNB Corp.		3,955		79,100
Live Oak Bancshares, Inc.		8,993		217,631
Macatawa Bank Corp.		10,785		102,889
MainSource Financial Group, Inc.		11,260		377,323

See Notes to Financial Statements.

42 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Banks: Diversified (continued)
MB Financial, Inc.		37,072	$	1,632,651
MBT Financial Corp.		8,241		79,938
Mercantile Bank Corp.		7,517		236,635
Middlefield Banc Corp.		1,102		55,541
Midland States Bancorp, Inc.		6,916		231,824
MidSouth Bancorp, Inc.		3,605		42,359
National Bank Holdings Corp., Class A		11,614		384,540
National Bankshares, Inc.		2,984		121,747
National Commerce Corp. (a)		4,783		189,168
NBT Bancorp, Inc.		19,339		714,576
Nicolet Bankshares, Inc. (a)		4,076		222,998
Northrim BanCorp, Inc.		3,151		95,790
Norwood Financial Corp.		1,549		65,445
OFG Bancorp		20,117		201,170
Ohio Valley Banc Corp.		1,627		58,653
Old Line Bancshares, Inc.		3,714		104,661
Old National Bancorp		61,596		1,062,531
Old Point Financial Corp.		1,405		46,196
Old Second Bancorp, Inc.		13,500		155,925
Opus Bank		9,331		225,810
Orrstown Financial Services, Inc.		3,196		73,029
Pacific Continental Corp.		9,920		253,456
Pacific Mercantile Bancorp (a)		5,653		49,746
Pacific Premier Bancorp, Inc. (a)		17,949		662,318
Paragon Commercial Corp. (a)		1,833		96,178
Park National Corp.		6,086		631,240
Park Sterling Corp.		24,684		293,246
Parke Bancorp, Inc.		2,446		54,790
PCSB Financial Corp. (a)		8,038		137,128
Peapack Gladstone Financial Corp.		7,593		237,585
Penns Woods Bancorp, Inc.		2,182		89,855
People’s Utah Bancorp		5,966		159,889
Peoples Bancorp of North Carolina, Inc.		1,726		54,542
Peoples Bancorp, Inc.		7,692		247,144
Peoples Financial Services Corp.		3,045		133,158
Preferred Bank		5,950		318,146
Premier Financial Bancorp, Inc.		4,311		88,850
Provident Financial Services, Inc.		26,681		677,164
QCR Holdings, Inc.		5,578		264,397
Renasant Corp.		19,781		865,221
Republic Bancorp, Inc., Class A		4,720		168,504
Republic First Bancorp, Inc. (a)		22,988		212,639
S&T Bancorp, Inc.		15,640		560,850
Sandy Spring Bancorp, Inc.		10,830		440,348
Seacoast Banking Corp. of Florida (a)		18,324		441,608
ServisFirst Bancshares, Inc.		21,283		785,130
Shore Bancshares, Inc.		5,985		98,453
Sierra Bancorp		5,686		139,591
Simmons First National Corp., Class A		13,830		731,607
SmartFinancial, Inc. (a)		2,969		70,900
South State Corp.		13,200		1,131,240
Southern First Bancshares, Inc. (a)		2,778		102,925
Southern National Bancorp of Virginia, Inc.		5,180		91,168
Southside Bancshares, Inc.		12,832		448,350
Southwest Bancorp, Inc.		8,082		206,495
State Bank Financial Corp.		17,008		461,257
Stock Yards Bancorp, Inc.		10,021		389,817
Stonegate Bank		6,401		295,598
Summit Financial Group, Inc.		4,907		107,954
Sunshine Bancorp, Inc. (a)		3,095		65,954
Texas Capital Bancshares, Inc. (a)		22,207		1,718,822
Tompkins Financial Corp.		6,669		524,984
TowneBank		25,866		796,673
Trico Bancshares		9,403		330,515
Tristate Capital Holdings, Inc. (a)		10,405		262,206
Triumph Bancorp, Inc. (a)		7,338		180,148
TrustCo Bank Corp. NY		42,781		331,553

Common Stocks	Shares		Value
Banks: Diversified (continued)
Trustmark Corp.		30,819	$	991,139
Two River Bancorp		2,935		54,562
UMB Financial Corp.		20,638		1,544,961
Umpqua Holdings Corp.		97,864		1,796,783
Union Bankshares Corp.		19,803		671,322
Union Bankshares, Inc.		1,728		82,080
United Bankshares, Inc.		45,714		1,791,989
United Community Banks, Inc.		32,425		901,415
United Community Financial Corp.		23,037		191,437
United Security Bancshares		5,334		49,340
Unity Bancorp, Inc.		3,036		52,219
Univest Corp. of Pennsylvania		11,790		353,110
Valley National Bancorp		119,008		1,405,484
Veritex Holdings, Inc. (a)		6,470		170,355
Washington Trust Bancorp, Inc.		7,101		366,057
WashingtonFirst Bankshares, Inc.		4,436		153,175
WesBanco, Inc.		19,307		763,399
West BanCorp., Inc.		7,523		177,919
Westamerica BanCorp		11,661		653,482
Wintrust Financial Corp.		24,880		1,901,827
Xenith Bankshares, Inc. (a)		2,460		76,408
				86,137,674
Banks: Savings, Thrift & Mortgage Lending — 1.8%
Astoria Financial Corp.		42,727		860,949
Banc of California, Inc.		20,240		435,160
Bank Mutual Corp.		19,138		175,113
BankFinancial Corp.		6,891		102,814
Bear State Financial, Inc.		8,530		80,694
Berkshire Hills Bancorp, Inc.		16,433		577,620
BofI Holding, Inc. (a)(b)		26,399		626,184
Brookline Bancorp, Inc.		34,406		502,328
BSB Bancorp, Inc. (a)		3,778		110,506
Clifton Bancorp, Inc.		9,356		154,655
Dime Community Bancshares, Inc.		14,482		283,847
Entegra Financial Corp. (a)		2,913		66,271
ESSA Bancorp, Inc.		4,135		60,867
First Defiance Financial Corp.		4,509		237,534
First Financial Northwest, Inc.		3,551		57,278
Flushing Financial Corp.		13,120		369,853
Great Southern Bancorp, Inc.		5,057		270,549
Greene County Bancorp, Inc.		1,302		35,414
Heritage Financial Corp.		13,634		361,301
Hingham Institution for Savings		601		109,340
Home Bancorp, Inc.		2,699		114,761
HomeStreet, Inc. (a)		13,455		372,367
Investors Bancorp, Inc.		116,030		1,550,161
Kearny Financial Corp.		39,147		581,333
Ladder Capital Corp.		33,935		455,068
LegacyTexas Financial Group, Inc.		21,616		824,218
Malvern Bancorp, Inc. (a)		2,583		61,863
Meridian Bancorp, Inc.		21,274		359,531
MutualFirst Financial, Inc.		2,638		94,177
Northfield Bancorp, Inc.		19,255		330,223
Northwest Bancshares, Inc.		43,654		681,439
OceanFirst Financial Corp.		14,341		388,928
Oconee Federal Financial Corp.		624		17,341
Ocwen Financial Corp. (a)		46,324		124,611
Oritani Financial Corp.		18,341		312,714
Provident Bancorp, Inc. (a)		1,898		42,705
Provident Financial Holdings, Inc.		2,316		44,583
Prudential Bancorp, Inc.		3,095		56,205
Riverview Bancorp, Inc.		8,313		55,198
SI Financial Group, Inc.		6,255		100,705
Southern Missouri Bancorp, Inc.		2,731		88,102
Sterling Bancorp		60,467		1,405,858
Territorial Bancorp, Inc.		3,361		104,830

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 43

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Banks: Savings, Thrift & Mortgage Lending (continued)
Timberland Bancorp, Inc.		2,549	$	64,413
United Financial Bancorp, Inc.		23,991		400,410
Washington Federal, Inc.		39,547		1,312,960
Waterstone Financial, Inc.		11,268		212,402
Western New England Bancorp, Inc.		12,151		123,333
WSFS Financial Corp.		13,982		634,084
				16,392,800
Beverage: Brewers & Distillers — 0.1%
Boston Beer Co., Inc., Class A (a)		4,133		546,176
Castle Brands, Inc. (a)		38,720		66,598
Craft Brew Alliance, Inc. (a)		6,276		105,751
Primo Water Corp. (a)		11,437		145,250
				863,775
Beverage: Soft Drinks — 0.1%
Coca-Cola Bottling Co. Consolidated		2,150		492,071
Farmer Bros Co. (a)		3,929		118,852
National Beverage Corp.		5,350		500,546
				1,111,469
Biotechnology — 5.1%
Acceleron Pharma, Inc. (a)		14,529		441,536
Acorda Therapeutics, Inc. (a)		19,646		387,026
Aduro Biotech, Inc. (a)		19,224		219,154
Advaxis, Inc. (a)(b)		17,587		114,140
Agenus, Inc. (a)		34,199		133,718
Aimmune Therapeutics, Inc. (a)		15,858		326,040
Akebia Therapeutics, Inc. (a)		16,909		242,982
Albany Molecular Research, Inc. (a)		11,835		256,820
Alder Biopharmaceuticals, Inc. (a)		21,446		245,557
AMAG Pharmaceuticals, Inc. (a)		16,156		297,270
Amicus Therapeutics, Inc. (a)		65,370		658,276
AnaptysBio, Inc. (a)		2,759		66,023
Anavex Life Sciences Corp. (a)		15,268		81,226
ANI Pharmaceuticals, Inc. (a)		3,583		167,684
Ardelyx, Inc. (a)		14,340		73,134
Arena Pharmaceuticals, Inc. (a)		14,167		238,997
Array BioPharma, Inc. (a)		78,845		659,933
Assembly Biosciences, Inc. (a)		6,046		124,850
Asterias Biotherapeutics, Inc. (a)		12,667		44,968
Atara Biotherapeutics, Inc. (a)		12,063		168,882
Athersys, Inc. (a)		48,375		73,046
Audentes Therapeutics, Inc. (a)		6,645		127,119
Avexis, Inc. (a)		11,193		919,617
Axovant Sciences Ltd. (a)		13,859		321,390
Bellicum Pharmaceuticals, Inc. (a)		11,797		137,789
BioCryst Pharmaceuticals, Inc. (a)		36,067		200,533
Biohaven Pharmaceutical Holding Co. Ltd. (a)		4,423		110,575
BioTelemetry, Inc. (a)		12,873		430,602
BioTime, Inc. (a)		32,329		101,836
Bluebird Bio, Inc. (a)		20,443		2,147,537
Blueprint Medicines Corp. (a)		17,713		897,518
Calithera Biosciences, Inc. (a)		13,886		206,207
Cascadian Therapeutics, Inc. (a)		13,367		49,658
Catalyst Pharmaceutical, Inc. (a)		31,949		88,179
Celldex Therapeutics, Inc. (a)		52,854		130,549
ChemoCentryx, Inc. (a)		10,688		100,040
Clearside Biomedical, Inc. (a)		8,668		78,965
Clovis Oncology, Inc. (a)		19,740		1,848,256
Codexis, Inc. (a)		17,029		92,808
Coherus Biosciences, Inc. (a)		17,377		249,360
Collegium Pharmaceutical, Inc. (a)		9,839		123,086
Corbus Pharmaceuticals Holdings, Inc. (a)(b)		19,875		125,213
Corium International, Inc. (a)		8,363		62,388
Curis, Inc. (a)		55,167		104,266
Cytokinetics, Inc. (a)		18,875		228,388

Common Stocks	Shares		Value
Biotechnology (continued)
CytomX Therapeutics, Inc. (a)		13,035	$	202,043
Dermira, Inc. (a)		17,210		501,499
Dynavax Technologies Corp. (a)		22,503		217,154
Edge Therapeutics, Inc. (a)		8,417		86,358
Editas Medicine, Inc. (a)		15,140		254,049
Emergent Biosolutions, Inc. (a)		15,527		526,521
Enzo Biochem, Inc. (a)		19,304		213,116
Epizyme, Inc. (a)		19,146		289,105
Exact Sciences Corp. (a)		49,221		1,740,947
Fate Therapeutics, Inc. (a)		16,014		51,885
FibroGen, Inc. (a)		27,328		882,694
Five Prime Therapeutics, Inc. (a)		12,352		371,919
Fortress Biotech, Inc. (a)		13,017		61,831
Foundation Medicine, Inc. (a)		6,627		263,423
GenMark Diagnostics, Inc. (a)		20,548		243,083
Genocea Biosciences, Inc. (a)		11,882		62,024
Genomic Health, Inc. (a)		8,939		290,964
Geron Corp. (a)		66,605		184,496
Global Blood Therapeutics, Inc. (a)		16,769		458,632
Halozyme Therapeutics, Inc. (a)		49,939		640,218
Heron Therapeutics, Inc. (a)		20,451		283,246
Idera Pharmaceuticals, Inc. (a)		44,386		76,344
Ignyta, Inc. (a)		22,407		231,912
ImmunoGen, Inc. (a)		39,510		280,916
Immunomedics, Inc. (a)		46,594		411,425
INC Research Holdings, Inc., Class A (a)		24,984		1,461,564
Inovio Pharmaceuticals, Inc. (a)		30,391		238,265
Insmed, Inc. (a)		28,349		486,469
Insys Therapeutics, Inc. (a)		11,479		145,209
Intellia Therapeutics, Inc. (a)		5,957		95,312
Invitae Corp. (a)		17,097		163,447
Iovance Biotherapeutics, Inc. (a)		23,790		174,857
Jounce Therapeutics, Inc. (a)		2,590		36,338
Karyopharm Therapeutics, Inc. (a)		14,884		134,700
Keryx Biopharmaceuticals, Inc. (a)		38,630		279,295
Kindred Biosciences, Inc. (a)		8,804		75,714
Kura Oncology, Inc. (a)(b)		5,690		52,917
Lexicon Pharmaceuticals, Inc. (a)		19,741		324,739
Ligand Pharmaceuticals, Inc. (a)		9,349		1,134,969
Loxo Oncology, Inc. (a)		9,128		731,974
MacroGenics, Inc. (a)		15,201		266,170
Madrigal Pharmaceuticals, Inc. (a)		1,336		21,723
Matinas BioPharma Holdings, Inc. (a)(b)		22,300		37,687
MediciNova, Inc. (a)(b)		13,638		71,736
Merrimack Pharmaceuticals, Inc.		57,049		70,741
Minerva Neurosciences, Inc. (a)		11,254		99,598
Miragen Therapeutics, Inc. (a)		4,653		60,163
Momenta Pharmaceuticals, Inc. (a)		33,412		564,663
Myriad Genetics, Inc. (a)		29,276		756,492
NantKwest, Inc. (a)(b)		13,165		99,922
Natera, Inc. (a)		13,807		149,944
Nektar Therapeutics (a)		67,483		1,319,293
Neos Therapeutics, Inc. (a)		8,739		63,795
NewLink Genetics Corp. (a)		8,881		65,275
Novavax, Inc. (a)		127,412		146,524
Novelion Therapeutics, Inc. (a)		6,031		55,666
Nymox Pharmaceutical Corp. (a)		11,855		52,162
Omeros Corp. (a)		18,987		377,936
Organovo Holdings, Inc. (a)		46,609		122,582
Ovid therapeutics, Inc. (a)		1,834		19,239
Pacific Biosciences of California, Inc. (a)		36,639		130,435
PDL BioPharma, Inc.		74,364		183,679
Penumbra, Inc. (a)		13,394		1,175,324
Pieris Pharmaceuticals, Inc. (a)		15,232		77,074
PRA Health Sciences, Inc. (a)		17,174		1,288,222
Progenics Pharmaceuticals, Inc. (a)		33,488		227,384
Protagonist Therapeutics, Inc. (a)		4,017		45,432

See Notes to Financial Statements.

44 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Biotechnology (continued)
Prothena Corp. PLC (a)		17,487	$	946,396
PTC Therapeutics, Inc. (a)		15,019		275,298
Pulse Biosciences, Inc. (a)(b)		4,118		142,195
Puma Biotechnology, Inc. (a)		13,158		1,150,009
Ra Pharmaceuticals, Inc. (a)		5,166		96,811
RadNet, Inc. (a)		18,650		144,538
Recro Pharma, Inc. (a)		5,383		37,842
REGENXBIO, Inc. (a)		12,393		244,762
Repligen Corp. (a)		15,757		652,970
Retrophin, Inc. (a)		17,351		336,436
Rigel Pharmaceuticals, Inc. (a)		52,992		144,668
Rockwell Medical, Inc. (a)		21,574		171,082
RTI Surgical, Inc. (a)		24,621		144,033
Sage Therapeutics, Inc. (a)		15,778		1,256,560
Sangamo Therapeutics, Inc. (a)		32,964		290,083
Sarepta Therapeutics, Inc. (a)		23,761		800,983
Selecta Biosciences, Inc. (a)		5,048		100,253
Seres Therapeutics, Inc. (a)		9,103		102,864
Spark Therapeutics, Inc. (a)		10,574		631,691
Stemline Therapeutics, Inc. (a)		10,980		101,016
Strongbridge Biopharma PLC (a)		8,412		60,146
Sucampo Pharmaceuticals, Inc., Class A (a)		11,376		119,448
Synergy Pharmaceuticals, Inc. (a)		102,881		457,820
Syros Pharmaceuticals, Inc. (a)		5,357		86,194
Tocagen, Inc. (a)		3,626		43,621
Trevena, Inc. (a)		27,410		63,043
Vanda Pharmaceuticals, Inc. (a)		19,981		325,690
VBI Vaccines, Inc. (a)		7,930		34,496
Veracyte, Inc. (a)		9,948		82,867
Versartis, Inc. (a)		14,971		261,244
vTv Therapeutics, Inc., Class A (a)		1,667		8,285
XBiotech, Inc. (a)		9,268		43,560
Xencor, Inc. (a)		17,348		366,216
ZIOPHARM Oncology, Inc. (a)(b)		59,392		369,418
				45,906,113
Building Materials — 1.1%
Armstrong Flooring, Inc. (a)		10,593		190,356
Builders FirstSource, Inc. (a)		44,373		679,794
Caesarstone Ltd. (a)		10,375		363,644
Continental Building Products, Inc. (a)		18,103		421,800
Gibraltar Industries, Inc. (a)		14,403		513,467
Griffon Corp.		13,267		291,210
Huttig Building Products, Inc. (a)		10,383		72,785
Louisiana-Pacific Corp. (a)		66,307		1,598,662
LSI Industries, Inc.		9,955		90,093
Masonite International Corp. (a)		13,666		1,031,783
NCI Building Systems, Inc. (a)		18,181		303,623
Patrick Industries, Inc. (a)		7,381		537,706
PGT Innovations, Inc. (a)		21,410		274,048
Quanex Building Products Corp.		15,485		327,508
Simpson Manufacturing Co., Inc.		18,744		819,300
Summit Materials, Inc., Class A (a)		47,176		1,361,971
Trex Co., Inc. (a)		13,565		917,808
				9,795,558
Building: Climate Control — 0.1%
AAON, Inc.		18,785		692,227
Comfort Systems USA, Inc.		16,816		623,874
				1,316,101
Building: Roofing, Wallboard & Plumbing — 0.2%
Beacon Roofing Supply, Inc. (a)		27,612		1,352,988
Forterra, Inc. (a)		7,624		62,745
Foundation Building Materials, Inc. (a)		5,373		69,097
JELD-WEN Holding, Inc. (a)		10,698		347,257
				1,832,087

Common Stocks	Shares		Value
Casinos & Gambling — 0.4%
Boyd Gaming Corp.		38,602	$	957,716
Caesars Acquisition Co., Class A (a)		22,329		425,368
Caesars Entertainment Corp. (a)(b)		26,015		312,180
Century Casinos, Inc. (a)		10,571		77,908
Eldorado Resorts, Inc. (a)		20,097		401,940
Inspired Entertainment, Inc. (a)		1,465		19,045
Monarch Casino & Resort, Inc. (a)		5,188		156,937
Penn National Gaming, Inc. (a)		29,616		633,782
Scientific Games Corp., Class A (a)		23,532		614,185
				3,599,061
Cement — 0.1%
US Concrete, Inc. (a)		7,013		550,871
Chemicals: Diversified — 0.9%
Aceto Corp.		13,266		204,960
AdvanSix, Inc. (a)		13,572		423,989
AgroFresh Solutions, Inc. (a)		10,625		76,287
American Vanguard Corp.		12,841		221,507
CSW Industrials, Inc. (a)		6,447		249,177
GCP Applied Technologies, Inc. (a)		32,754		998,997
Hawkins, Inc.		4,228		195,968
Ingevity Corp. (a)		19,477		1,117,980
Innophos Holdings, Inc.		8,875		389,080
KMG Chemicals, Inc.		4,288		208,697
Landec Corp. (a)		12,923		191,907
LSB Industries, Inc. (a)		10,895		112,545
Nexeo Solutions, Inc. (a)		11,203		92,985
OMNOVA Solutions, Inc. (a)		19,203		187,229
PolyOne Corp.		37,290		1,444,615
Rayonier Advanced Materials, Inc.		19,395		304,889
Sensient Technologies Corp.		19,778		1,592,722
Tronox Ltd., Class A		30,258		457,501
				8,471,035
Chemicals: Specialty — 0.5%
Balchem Corp.		14,454		1,123,220
Calgon Carbon Corp.		23,475		354,472
FutureFuel Corp.		11,896		179,511
Innospec, Inc.		11,016		722,099
Kraton Corp. (a)		13,661		470,485
Quaker Chemical Corp.		5,909		858,164
Stepan Co.		9,143		796,721
Valhi, Inc.		9,498		28,304
				4,532,976
Coal — 0.2%
Arch Coal, Inc.		9,233		630,614
Cloud Peak Energy, Inc. (a)		33,573		118,512
Hallador Energy Co.		6,490		50,427
Peabody Energy Corp. (a)		22,145		541,445
Ramaco Resources, Inc. (a)		4,174		25,253
Warrior Met Coal, Inc.		7,599		130,171
Westmoreland Coal Co. (a)		7,087		34,514
				1,530,936
Commercial Banks — 0.1%
Blue Hills Bancorp, Inc.		11,695		209,340
Green Bancorp, Inc. (a)		9,549		185,251
HomeTrust Bancshares, Inc. (a)		7,964		194,322
Sun Bancorp, Inc.		5,177		127,613
				716,526
Commercial Finance & Mortgage Companies — 0.3%
Capital Bank Financial Corp., Class A		13,333		507,987
Federal Agricultural Mortgage Corp., Class C		4,217		272,840
Impac Mortgage Holdings, Inc. (a)		5,306		80,280
Meta Financial Group, Inc.		4,131		367,659
Nationstar Mortgage Holdings, Inc. (a)		14,039		251,158

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 45

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Commercial Finance & Mortgage Companies (continued)
NewStar Financial, Inc.		13,972	$	146,706
On Deck Capital, Inc. (a)		24,699		115,097
PennyMac Financial Services, Inc. (a)(c)		3,162		52,805
RE/MAX Holdings, Inc., Class A		8,236		461,628
Walker & Dunlop, Inc. (a)		12,887		629,272
				2,885,432
Commercial Services & Supplies — 0.1%
Aqua Metals, Inc. (a)(b)		7,409		92,983
ARC Document Solutions, Inc. (a)		21,353		88,828
Collectors Universe, Inc.		3,317		82,427
Hill International, Inc. (a)		16,495		85,774
Information Services Group, Inc. (a)		16,905		69,480
National Research Corp., Class A		4,614		124,117
Weight Watchers International, Inc. (a)		12,022		401,775
				945,384
Commercial Services: Rental & Leasing — 0.7%
Aircastle Ltd.		22,065		479,914
CAI International, Inc. (a)		6,781		160,032
GATX Corp.		17,230		1,107,372
GMS, Inc. (a)		10,796		303,368
H&E Equipment Services, Inc.		14,142		288,638
Herc Holdings, Inc. (a)		11,078		435,587
Marlin Business Services Corp.		3,929		98,814
McGrath RentCorp		10,509		363,927
Mobile Mini, Inc.		20,101		600,015
Neff Corp., Class A (a)		3,872		73,568
NOW, Inc. (a)		48,892		786,183
PHH Corp. (a)		24,085		331,650
Rush Enterprises, Inc., Class B (a)		2,370		86,292
SiteOne Landscape Supply, Inc. (a)		15,606		812,448
Triton International Ltd.		20,002		668,867
Willis Lease Finance Corp. (a)		1,613		43,115
				6,639,790
Commercial Vehicles & Parts — 0.4%
Blue Bird Corp. (a)		3,210		54,570
Commercial Vehicle Group, Inc. (a)		10,958		92,595
Cooper-Standard Holding, Inc. (a)		8,010		807,969
Miller Industries, Inc.		4,495		111,701
Modine Manufacturing Co. (a)		22,187		367,195
Motorcar Parts of America, Inc. (a)		8,719		246,224
Navistar International Corp. (a)		22,927		601,375
REV Group, Inc.		5,701		157,804
Rush Enterprises, Inc., Class A (a)		13,648		507,433
Spartan Motors, Inc.		15,552		137,635
Wabash National Corp.		27,126		596,229
				3,680,730
Communications Equipment — 0.0%
Aerohive Networks, Inc. (a)		14,230		71,150
Communications Technology — 1.7%
ADTRAN, Inc.		22,019		454,692
Anixter International, Inc. (a)		13,250		1,036,150
Bel Fuse, Inc., Class B		4,469		110,384
Calix, Inc. (a)		19,375		132,719
Ciena Corp. (a)		64,613		1,616,617
Comtech Telecommunications Corp.		10,425		197,762
Digi International, Inc. (a)		11,991		121,709
DigitalGlobe, Inc. (a)		28,439		947,019
Extreme Networks, Inc. (a)		49,817		459,313
Finisar Corp. (a)		50,965		1,324,071
General Cable Corp.		22,738		371,766
GSI Technology, Inc. (a)		5,872		46,154
Harmonic, Inc. (a)		34,832		182,868
Infinera Corp. (a)		66,263		707,026

Common Stocks	Shares		Value
Communications Technology (continued)
Intelsat SA (a)		19,547	$	59,814
InterDigital, Inc.		15,558		1,202,633
KVH Industries, Inc. (a)		7,710		73,245
Loral Space & Communications, Inc. (a)		5,619		233,469
Lumentum Holdings, Inc. (a)		27,352		1,560,432
NeoPhotonics Corp. (a)		14,681		113,337
NETGEAR, Inc. (a)		14,739		635,251
Ooma, Inc. (a)		7,077		56,616
Plantronics, Inc.		15,329		801,860
Quantenna Communications, Inc. (a)		9,413		178,847
Rightside Group Ltd. (a)		5,368		57,008
RingCentral, Inc., Class A (a)		28,532		1,042,845
ShoreTel, Inc. (a)		30,689		177,996
Sonus Networks, Inc. (a)		21,032		156,478
TeleNav, Inc. (a)		13,470		109,107
ViaSat, Inc. (a)		24,318		1,609,852
				15,777,040
Computer Services Software & Systems — 5.5%
A10 Networks, Inc. (a)		22,891		193,200
ACI Worldwide, Inc. (a)		53,029		1,186,259
Acxiom Corp. (a)		36,057		936,761
Alarm.com Holdings, Inc. (a)		9,257		348,341
Alteryx, Inc., Class A (a)		3,952		77,143
American Software, Inc., Class A		11,102		114,240
Appfolio, Inc., Class A (a)		3,773		123,000
Aspen Technology, Inc. (a)		33,706		1,862,594
Avid Technology, Inc. (a)		14,722		77,438
Bankrate, Inc. (a)		22,290		286,426
Barracuda Networks, Inc. (a)		11,491		264,982
Bazaarvoice, Inc. (a)		37,713		186,679
Benefitfocus, Inc. (a)		7,191		261,393
Blackbaud, Inc.		21,328		1,828,876
Blackline, Inc. (a)		4,975		177,806
Blucora, Inc. (a)		18,969		402,143
Bottomline Technologies, Inc. (a)		18,205		467,686
Box, Inc., Class A (a)		35,841		653,740
Brightcove, Inc. (a)		15,598		96,708
BroadSoft, Inc. (a)		14,175		610,234
CACI International, Inc., Class A (a)		11,181		1,398,184
Callidus Software, Inc. (a)		29,371		710,778
Cloudera, Inc. (a)		6,659		106,677
CommerceHub, Inc., Series A (a)		6,179		107,638
CommerceHub, Inc., Series C (a)		12,991		226,563
CommVault Systems, Inc. (a)		17,584		992,617
Cornerstone OnDemand, Inc. (a)		23,778		850,063
Coupa Software, Inc. (a)		13,508		391,462
CSG Systems International, Inc.		15,417		625,622
Digimarc Corp. (a)		4,503		180,795
Ebix, Inc.		11,012		593,547
Endurance International Group Holdings, Inc. (a)		27,345		228,331
Envestnet, Inc. (a)		19,760		782,496
EPAM Systems, Inc. (a)		22,051		1,854,269
ePlus, Inc. (a)		6,021		446,156
Everbridge, Inc. (a)		7,588		184,844
Evolent Health, Inc., Class A (a)		17,804		451,331
Exa Corp. (a)		6,593		90,983
Groupon, Inc. (a)		153,913		591,026
Guidance Software, Inc. (a)		9,276		61,314
Hortonworks, Inc. (a)		21,454		276,328
HubSpot, Inc. (a)		15,377		1,011,038
Imperva, Inc. (a)		15,280		731,148
Inovalon Holdings, Inc., Class A (a)		28,117		369,739
Internap Corp. (a)		35,191		129,151
KEYW Holding Corp. (a)		21,240		198,594
Leaf Group Ltd. (a)		4,456		34,757
LendingClub Corp. (a)		146,060		804,791

See Notes to Financial Statements.

46 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Computer Services Software & Systems (continued)
Limelight Networks, Inc. (a)		30,403	$	87,865
LivePerson, Inc. (a)		25,292		278,212
Majesco (a)		1,856		9,150
Mantech International Corp., Class A		11,761		486,670
The Meet Group, Inc. (a)		30,596		154,510
Mercury Systems, Inc. (a)		21,407		901,021
MicroStrategy, Inc., Class A (a)		4,154		796,197
MINDBODY, Inc., Class A (a)		16,837		457,966
Mitek Systems, Inc. (a)		13,308		111,787
Monotype Imaging Holdings, Inc.		18,834		344,662
MuleSoft, Inc., Class A (a)		6,873		171,413
NCI, Inc., Class A (a)		3,466		73,133
Netscout Systems, Inc. (a)		39,397		1,355,257
New Relic, Inc. (a)		13,381		575,517
NIC, Inc.		29,285		554,951
Nutanix, Inc., Class A (a)		15,921		320,808
Okta, Inc. (a)		4,936		112,541
Ominto, Inc. (a)(b)		5,558		84,759
PDF Solutions, Inc. (a)		13,044		214,574
Pegasystems, Inc.		16,331		952,914
Pendrell Corp. (a)		3,961		28,638
Perficient, Inc. (a)		16,277		303,403
Presidio, Inc. (a)		8,616		123,295
Progress Software Corp.		21,817		673,927
Proofpoint, Inc. (a)		19,162		1,663,836
PROS Holdings, Inc. (a)		12,012		329,009
Q2 Holdings, Inc. (a)		14,291		528,052
QAD, Inc., Class A		4,438		142,238
Rapid7, Inc. (a)		9,649		162,393
RealNetworks, Inc. (a)		11,384		49,293
RealPage, Inc. (a)		26,800		963,460
Reis, Inc.		4,357		92,586
Rocket Fuel, Inc. (a)		15,256		41,954
Science Applications International Corp.		19,445		1,349,872
SecureWorks Corp., Class A (a)		3,584		33,295
Shutterstock, Inc. (a)		8,397		370,140
Simulations Plus, Inc.		4,390		54,216
SPS Commerce, Inc. (a)		7,695		490,633
Synchronoss Technologies, Inc. (a)		20,194		332,191
SYNNEX Corp.		12,927		1,550,723
Syntel, Inc.		15,980		271,021
TechTarget, Inc. (a)		8,161		84,630
TiVo Corp.		53,315		994,325
Tucows, Inc., Class A (a)		4,097		219,189
Twilio, Inc. (a)(b)		28,358		825,501
Unisys Corp. (a)		23,197		296,922
Upland Software, Inc. (a)		3,254		71,555
Varonis Systems, Inc. (a)		8,686		323,119
VASCO Data Security International, Inc. (a)		13,596		195,103
VeriFone Systems, Inc. (a)		50,927		921,779
Verint Systems, Inc. (a)		28,585		1,163,409
Veritone, Inc. (a)		1,357		15,890
VirnetX Holding Corp. (a)(b)		24,055		109,450
Virtusa Corp. (a)		12,742		374,615
Web.com Group, Inc. (a)		17,658		446,747
Workiva, Inc. (a)		11,265		214,598
Xactly Corp. (a)		11,984		187,550
Yelp, Inc. (a)		35,498		1,065,650
Yext, Inc. (a)		5,857		78,074
Zix Corp. (a)		25,086		142,739
				49,914,818
Computer Technology — 0.7%
3D Systems Corp. (a)		50,079		936,478
Cray, Inc. (a)		17,983		330,887
Diebold Nixdorf, Inc.		34,564		967,792

Common Stocks	Shares		Value
Computer Technology (continued)
Immersion Corp. (a)		13,714	$	124,523
Impinj, Inc. (a)(b)		8,203		399,076
Insight Enterprises, Inc. (a)		16,180		647,038
PC Connection, Inc.		5,054		136,761
PCM, Inc. (a)		4,439		83,231
Pure Storage, Inc., Class A (a)		42,362		542,657
Quantum Corp. (a)		12,341		96,383
Radisys Corp. (a)		16,945		63,713
Safeguard Scientifics, Inc. (a)		10,392		123,665
Stratasys Ltd. (a)		23,099		538,438
Super Micro Computer, Inc. (a)		17,866		440,397
Synaptics, Inc. (a)		14,700		760,137
USA Technologies, Inc. (a)		17,943		93,304
				6,284,480
Construction — 0.6%
Aegion Corp. (a)		15,375		336,405
Chicago Bridge & Iron Co. NV		45,929		906,179
EMCOR Group, Inc.		26,340		1,722,109
Granite Construction, Inc.		18,013		868,947
Great Lakes Dredge & Dock Corp. (a)		26,564		114,225
Orion Group Holdings, Inc. (a)		13,476		100,666
Primoris Services Corp.		17,742		442,486
Sterling Construction Co., Inc. (a)		11,158		145,835
Tutor Perini Corp. (a)		17,484		502,665
				5,139,517
Consumer Electronics — 0.1%
Fitbit, Inc., Series A (a)		79,107		420,058
Universal Electronics, Inc. (a)		6,434		430,113
VOXX International Corp. (a)		8,438		69,192
XO Group, Inc. (a)		11,412		201,079
ZAGG, Inc. (a)		11,494		99,423
				1,219,865
Consumer Lending — 0.7%
Elevate Credit, Inc. (a)		6,511		51,567
Encore Capital Group, Inc. (a)		8,178		328,347
Enova International, Inc. (a)		15,193		225,616
Ezcorp, Inc., Class A (a)		22,509		173,319
FirstCash, Inc.		21,809		1,271,465
LendingTree, Inc. (a)		2,838		488,704
Marcus & Millichap, Inc. (a)		7,626		201,021
MGIC Investment Corp. (a)		166,510		1,864,912
MoneyGram International, Inc. (a)		13,597		234,548
Nelnet, Inc., Class A		9,337		438,932
PRA Group, Inc. (a)		21,065		798,364
Regional Management Corp. (a)		4,575		108,107
World Acceptance Corp. (a)		2,825		211,621
				6,396,523
Consumer Services: Miscellaneous — 0.4%
Cars.com, Inc. (a)		30,569		814,053
Chuy’s Holdings, Inc. (a)		7,349		171,967
Core-Mark Holding Co., Inc.		20,837		688,871
CPI Card Group, Inc.		14,546		41,456
Del Frisco’s Restaurant Group, Inc. (a)		9,422		151,694
Nutrisystem, Inc.		13,405		697,730
Sotheby’s (a)		16,878		905,842
				3,471,613
Containers & Packaging — 0.2%
Greif, Inc., Class A		11,660		650,395
Greif, Inc., Class B		2,565		154,926
Myers Industries, Inc.		11,111		199,442
UFP Technologies, Inc. (a)		2,859		80,910
Veritiv Corp. (a)		5,232		235,440
				1,321,113

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 47

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Cosmetics — 0.1%
elf Beauty, Inc. (a)		9,238	$	251,366
Inter Parfums, Inc.		7,870		288,435
Revlon, Inc., Class A (a)		5,487		130,042
				669,843
Diversified Financial Services — 1.0%
Altisource Portfolio Solutions SA (a)		5,002		109,144
Associated Capital Group, Inc., Class A		2,342		79,628
Blackhawk Network Holdings, Inc. (a)		24,370		1,062,532
California First National Bancorp		691		13,025
Evercore Partners, Inc., Class A		18,236		1,285,638
FCB Financial Holdings, Inc., Class A (a)		16,185		772,834
FNFV Group (a)		29,669		468,770
Greenhill & Co., Inc.		12,960		260,496
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		23,078		527,794
Houlihan Lokey, Inc.		9,463		330,259
HRG Group, Inc. (a)		54,474		964,734
Liberty Tax, Inc.		4,135		53,548
MBIA, Inc. (a)		58,212		548,939
MidWestOne Financial Group, Inc.		4,937		167,315
Moelis & Co., Class A		11,449		444,794
Piper Jaffray Cos.		6,774		406,101
Planet Payment, Inc. (a)		20,443		67,462
Stifel Financial Corp. (a)		30,739		1,413,379
Tiptree, Inc., Class A		11,921		84,043
				9,060,435
Diversified Manufacturing Operations — 0.5%
Barnes Group, Inc.		22,899		1,340,279
Federal Signal Corp.		27,390		475,490
Harsco Corp. (a)		36,619		589,566
Lydall, Inc. (a)		7,705		398,349
OSI Systems, Inc. (a)		7,935		596,315
Raven Industries, Inc.		16,497		549,350
Standex International Corp.		5,792		525,334
TriMas Corp. (a)		20,534		428,134
				4,902,817
Diversified Materials & Processing — 0.4%
Belden, Inc.		18,495		1,395,078
Cabot Microelectronics Corp.		11,379		840,111
Encore Wire Corp.		9,322		398,049
Energous Corp. (a)		8,372		136,129
Insteel Industries, Inc.		8,199		270,321
Koppers Holdings, Inc. (a)		9,747		352,354
NL Industries, Inc. (a)		4,662		32,867
Tredegar Corp.		11,311		172,493
Uranium Energy Corp. (a)		58,896		93,645
				3,691,047
Diversified Media — 0.1%
EW Scripps Co., Class A (a)		26,538		472,642
Hemisphere Media Group, Inc. (a)		6,788		80,438
				553,080
Diversified Retail — 0.6%
Big Lots, Inc.		20,542		992,179
Dillard’s, Inc., Class A		6,978		402,561
Duluth Holdings, Inc., Class B (a)(b)		4,036		73,495
Etsy, Inc. (a)		52,761		791,415
Fred’s, Inc., Class A (b)		16,633		153,523
Gaia, Inc. (a)		3,712		41,574
HSN, Inc.		14,847		473,619
JC Penney Co., Inc. (a)(b)		141,735		659,068
Ollie’s Bargain Outlet Holdings, Inc. (a)		21,235		904,611
Overstock.com, Inc. (a)		7,432		121,142
PriceSmart, Inc.		10,019		877,664

Common Stocks	Shares		Value
Diversified Retail (continued)
Sears Holdings Corp. (a)(b)		6,444	$	57,094
Winmark Corp.		1,103		142,232
				5,690,177
Drug & Grocery Store Chains — 0.2%
Diplomat Pharmacy, Inc. (a)		21,769		322,181
Ingles Markets, Inc., Class A		6,270		208,791
PetMed Express, Inc.		9,017		366,090
Smart & Final Stores, Inc. (a)		11,756		106,980
Supervalu, Inc. (a)		123,880		407,565
Village Super Market, Inc., Class A		3,793		98,314
Weis Markets, Inc.		4,526		220,507
				1,730,428
Education Services — 0.8%
2U, Inc. (a)		19,989		937,884
Adtalem Global Education, Inc.		27,653		1,049,431
American Public Education, Inc. (a)		6,974		164,935
Bridgepoint Education, Inc. (a)		8,622		127,261
Cambium Learning Group, Inc. (a)		3,388		17,177
Capella Education Co.		5,261		450,342
Career Education Corp. (a)		30,802		295,699
Chegg, Inc. (a)		38,751		476,250
Franklin Covey Co. (a)		4,207		81,195
Grand Canyon Education, Inc. (a)		21,173		1,660,175
HealthStream, Inc. (a)		11,964		314,892
Houghton Mifflin Harcourt Co. (a)		47,093		579,244
K12, Inc. (a)		15,439		276,667
Laureate Education, Inc., Class A (a)		16,596		290,928
Rosetta Stone, Inc. (a)		7,335		79,071
Strayer Education, Inc.		4,867		453,702
				7,254,853
Electronic Components — 0.8%
Acacia Research Corp. (a)		15,133		62,045
AVX Corp.		21,092		344,643
Babcock & Wilcox Enterprises, Inc. (a)		22,643		266,282
Kemet Corp. (a)		20,810		266,368
Methode Electronics, Inc.		16,440		677,328
Microvision, Inc. (a)(b)		29,260		62,031
Novanta, Inc. (a)		13,734		494,424
NVE Corp.		2,222		171,094
Park Electrochemical Corp.		8,755		161,267
Revolution Lighting Technologies, Inc. (a)		5,077		33,458
Rogers Corp. (a)		7,839		851,472
Sanmina Corp. (a)		33,763		1,286,370
ScanSource, Inc. (a)		11,370		458,211
Sparton Corp. (a)		4,243		93,304
Tech Data Corp. (a)		15,557		1,571,257
TTM Technologies, Inc. (a)		42,242		733,321
				7,532,875
Electronic Entertainment — 0.0%
Glu Mobile, Inc. (a)		46,916		117,290
Electronics — 0.3%
Agilysys, Inc. (a)		6,900		69,828
Control4 Corp. (a)		11,117		218,004
Daktronics, Inc.		17,612		169,604
II-VI, Inc. (a)		27,691		949,801
Integer Holdings Corp. (a)		14,350		620,637
iRobot Corp. (a)		12,047		1,013,635
Iteris, Inc. (a)		9,871		61,398
				3,102,907
Energy Equipment — 0.2%
Dynegy, Inc. (a)		50,367		416,535
Matador Resources Co. (a)		41,279		882,132
Silver Spring Networks, Inc. (a)		18,763		211,647

See Notes to Financial Statements.

48 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Energy Equipment (continued)
SunPower Corp. (a)(b)		26,647	$	248,883
Sunrun, Inc. (a)		39,358		280,229
TPI Composites, Inc. (a)		4,788		88,482
				2,127,908
Energy Equipment & Services — 0.0%
Geospace Technologies Corp. (a)		5,394		74,599
Pioneer Energy Services Corp. (a)		36,991		75,832
				150,431
Engineering & Contracting Services — 0.8%
Argan, Inc.		6,679		400,740
Dycom Industries, Inc. (a)		13,511		1,209,505
Engility Holdings, Inc. (a)		8,555		242,962
Exponent, Inc.		11,957		697,093
HC2 Holdings, Inc. (a)		18,363		107,974
IES Holdings, Inc. (a)		3,832		69,551
KBR, Inc.		65,574		998,036
Layne Christensen Co. (a)		8,287		72,843
MasTec, Inc. (a)		30,389		1,372,063
Mistras Group, Inc. (a)		8,258		181,428
MYR Group, Inc. (a)		7,250		224,895
Tetra Tech, Inc.		25,793		1,180,030
VSE Corp.		4,110		184,868
Willdan Group, Inc. (a)		3,529		107,811
				7,049,799
Entertainment — 0.3%
AMC Entertainment Holdings, Inc., Class A		25,726		585,266
Ascent Capital Group, Inc., Class A (a)		5,025		77,184
Empire Resorts, Inc. (a)(b)		1,861		44,478
Golden Entertainment, Inc. (a)		5,155		106,760
IMAX Corp. (a)		26,096		574,112
Pinnacle Entertainment, Inc. (a)		24,927		492,558
Reading International, Inc., Class A (a)		7,585		122,346
World Wrestling Entertainment, Inc., Class A		17,436		355,171
				2,357,875
Environmental, Maintenance, & Security Service — 0.7%
ABM Industries, Inc.		25,337		1,051,992
Brink’s Co.		20,666		1,384,622
Healthcare Services Group, Inc.		32,523		1,523,052
MSA Safety, Inc.		15,211		1,234,677
SP Plus Corp. (a)		8,208		250,754
UniFirst Corp.		6,708		943,816
				6,388,913
Fertilizers — 0.0%
Intrepid Potash, Inc. (a)		40,923		92,486
Financial Data & Systems — 0.5%
CardConnect Corp. (a)		7,177		108,014
Cardtronics PLC, Class A (a)		21,080		692,689
Cass Information Systems, Inc.		5,002		328,331
Donnelley Financial Solutions, Inc. (a)		12,265		281,604
Everi Holdings, Inc. (a)		28,931		210,618
EVERTEC, Inc.		28,353		490,507
Fair Isaac Corp.		14,007		1,952,716
Green Dot Corp., Class A (a)		20,998		809,053
				4,873,532
Food & Staples Retailing — 0.0%
Natural Grocers by Vitamin Cottage, Inc. (a)		3,384		27,986
Foods — 1.1%
Amplify Snack Brands, Inc. (a)(b)		14,626		140,995
B&G Foods, Inc.		30,277		1,077,861
Chefs’ Warehouse, Inc. (a)		8,831		114,803
Dean Foods Co.		42,199		717,383

Common Stocks	Shares		Value
Foods (continued)
Freshpet, Inc. (a)		11,482	$	190,601
Hostess Brands, Inc. (a)		36,477		587,280
J&J Snack Foods Corp.		6,830		902,038
John B Sanfilippo & Son, Inc.		3,871		244,299
Lancaster Colony Corp.		8,562		1,049,872
Lifeway Foods, Inc. (a)		1,252		11,694
Medifast, Inc.		4,684		194,245
Natural Health Trends Corp.		3,081		85,806
Nature’s Sunshine Products, Inc.		4,205		55,716
Nutraceutical International Corp.		3,880		161,602
Omega Protein Corp.		9,988		178,785
Performance Food Group Co. (a)		32,530		891,322
Seneca Foods Corp., Class A (a)		3,384		105,073
Snyders-Lance, Inc.		39,282		1,359,943
SpartanNash Co.		17,235		447,421
Tootsie Roll Industries, Inc.		7,835		273,050
United Natural Foods, Inc. (a)		23,317		855,734
				9,645,523
Forest Products — 0.2%
Boise Cascade Co. (a)		17,965		546,136
Deltic Timber Corp.		4,925		367,700
Universal Forest Products, Inc.		9,134		797,490
				1,711,326
Forms & Bulk Printing Services — 0.4%
Deluxe Corp.		21,639		1,497,852
Ennis, Inc.		11,805		225,475
InnerWorkings, Inc. (a)		20,577		238,693
LSC Communications, Inc.		15,315		327,741
Multi-Color Corp.		6,339		517,262
Quad/Graphics, Inc.		14,551		333,509
RR Donnelley & Sons Co.		30,183		378,495
				3,519,027
Fruit & Grain Processing — 0.0%
MGP Ingredients, Inc.		5,882		300,982
Funeral Parlors & Cemeteries — 0.2%
Carriage Services, Inc.		6,759		182,223
Hillenbrand, Inc.		28,966		1,045,672
Matthews International Corp., Class A		14,221		871,036
				2,098,931
Gas Pipeline — 0.1%
SemGroup Corp., Class A		30,223		816,021
Glass — 0.1%
Apogee Enterprises, Inc.		12,807		727,950
Gold — 0.1%
Coeur Mining, Inc. (a)		82,033		703,843
Gold Resource Corp.		24,728		100,890
Klondex Mines Ltd. (a)		79,092		266,540
				1,071,273
Health Care Equipment & Supplies — 0.1%
Inogen, Inc. (a)		7,783		742,654
Health Care Facilities — 0.6%
AAC Holdings, Inc. (a)		5,937		41,143
Capital Senior Living Corp. (a)		11,486		174,702
Ensign Group, Inc.		21,743		473,345
Genesis Healthcare, Inc. (a)		12,972		22,571
HealthSouth Corp.		40,997		1,984,255
Kindred Healthcare, Inc.		37,828		440,696
National Healthcare Corp.		5,012		351,542
Select Medical Holdings Corp. (a)		48,887		750,416
Tenet Healthcare Corp. (a)		37,321		721,788
U.S. Physical Therapy, Inc.		5,603		338,421
				5,298,879

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 49

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Health Care Management Services — 0.3%
BioScrip, Inc. (a)		35,967	$	97,650
Computer Programs & Systems, Inc.		5,046		165,509
Magellan Health, Inc. (a)		11,036		804,524
Molina Healthcare, Inc. (a)		19,517		1,350,186
Triple-S Management Corp., Class B (a)		10,937		184,945
				2,602,814
Health Care Services — 2.3%
Accelerate Diagnostics, Inc. (a)		11,837		323,742
Addus HomeCare Corp. (a)		3,529		131,279
Allscripts Healthcare Solutions, Inc. (a)		82,693		1,055,163
Almost Family, Inc. (a)		5,852		360,776
Amedisys, Inc. (a)		13,011		817,221
AMN Healthcare Services, Inc. (a)		20,796		812,084
Cara Therapeutics, Inc. (a)(b)		12,241		188,389
Care.com, Inc. (a)		5,881		88,803
Catalent, Inc. (a)		57,423		2,015,547
Chemed Corp.		7,114		1,455,026
Civitas Solutions, Inc. (a)		6,967		121,922
Corvel Corp. (a)		4,533		215,091
Cross Country Healthcare, Inc. (a)		15,432		199,227
Flexion Therapeutics, Inc. (a)		12,744		257,684
Globus Medical, Inc., Class A (a)		32,182		1,066,833
HealthEquity, Inc. (a)		22,742		1,133,234
HMS Holdings Corp. (a)		38,646		714,951
LHC Group, Inc. (a)		7,204		489,079
Medidata Solutions, Inc. (a)		25,308		1,979,085
MiMedx Group, Inc. (a)		47,639		713,156
NantHealth, Inc. (a)(b)		6,474		27,385
NeoGenomics, Inc. (a)		25,398		227,566
Omnicell, Inc. (a)		16,786		723,477
PharMerica Corp. (a)		13,488		354,060
Phibro Animal Health Corp., Class A		8,463		313,554
Quality Systems, Inc. (a)		24,124		415,174
R1 RCM, Inc. (a)		46,212		173,295
Ryman Hospitality Properties, Inc.		20,174		1,291,338
Surgery Partners, Inc. (a)		8,681		197,493
Tabula Rasa HealthCare, Inc. (a)		3,901		58,710
Teladoc, Inc. (a)		24,564		852,371
Tetraphase Pharmaceuticals, Inc. (a)		17,237		122,900
Tivity Health, Inc. (a)		16,775		668,484
WebMD Health Corp. (a)		16,939		993,472
				20,557,571
Health Care: Miscellaneous — 0.0%
Medpace Holdings, Inc. (a)		3,341		96,889
Providence Service Corp. (a)		5,284		267,423
				364,312
Home Building — 0.8%
Beazer Homes USA, Inc. (a)		14,704		201,739
Century Communities, Inc. (a)		8,032		199,194
Hovnanian Enterprises, Inc., Class A (a)		56,207		157,380
Installed Building Products, Inc. (a)		9,910		524,734
KB Home		38,818		930,467
LGI Homes, Inc. (a)		8,048		323,369
M/I Homes, Inc. (a)		11,238		320,845
MDC Holdings, Inc.		18,963		669,963
Meritage Homes Corp. (a)		17,496		738,331
New Home Co., Inc. (a)		5,740		65,838
Taylor Morrison Home Corp., Class A (a)		28,193		676,914
Tile Shop Holdings, Inc.		15,313		316,213
TopBuild Corp. (a)		16,297		864,882
TRI Pointe Group, Inc. (a)		72,239		952,832
UCP, Inc., Class A (a)		4,384		48,005
William Lyon Homes, Class A (a)		10,987		265,226
				7,255,932

Common Stocks	Shares		Value
Hotel/Motel — 0.3%
Belmond Ltd., Class A (a)		41,132	$	547,056
Intrawest Resorts Holdings, Inc. (a)		6,237		148,066
La Quinta Holdings, Inc. (a)		37,818		558,572
Marcus Corp.		8,595		259,569
Red Lion Hotels Corp. (a)		8,711		64,026
Red Rock Resorts, Inc., Class A		31,617		744,580
				2,321,869
Household Appliances — 0.0%
National Presto Industries, Inc.		2,276		251,498
Household Equipment & Products — 0.3%
Central Garden & Pet Co. (a)		5,258		167,152
Central Garden & Pet Co., Class A (a)		16,037		481,430
CSS Industries, Inc.		3,802		99,460
Helen of Troy Ltd. (a)		12,458		1,172,298
Libbey, Inc.		10,881		87,701
Novocure Ltd. (a)		26,116		451,807
				2,459,848
Household Furnishings — 0.4%
American Woodmark Corp. (a)		6,414		612,858
Bassett Furniture Industries, Inc.		4,231		160,566
Ethan Allen Interiors, Inc.		11,234		362,858
Flexsteel Industries, Inc.		3,250		175,858
Hooker Furniture Corp.		4,986		205,174
Kirkland’s, Inc. (a)		6,748		69,369
La-Z-Boy, Inc.		20,464		665,080
Lifetime Brands, Inc.		4,990		90,569
RH (a)(b)		15,123		975,736
Select Comfort Corp. (a)		18,763		665,899
				3,983,967
Insurance: Life — 0.6%
American Equity Investment Life Holding Co.		28,408		746,562
Citizens, Inc. (a)(b)		26,238		193,637
CNO Financial Group, Inc.		60,134		1,255,598
FBL Financial Group, Inc., Class A		5,858		360,267
Fidelity & Guaranty Life		7,445		231,167
Health Insurance Innovations, Inc., Class A (a)		5,151		121,049
Independence Holding Co.		4,805		98,262
National Western Life Group, Inc., Class A		1,248		398,886
Primerica, Inc.		18,272		1,384,104
Third Point Reinsurance Ltd. (a)		35,797		497,578
Trupanion, Inc. (a)		11,071		247,769
				5,534,879
Insurance: Multi-Line — 0.3%
Atlas Financial Holdings, Inc. (a)		4,915		73,234
Crawford & Co., Class B		5,981		55,623
eHealth, Inc. (a)		6,980		131,224
Horace Mann Educators Corp.		19,809		748,780
James River Group Holdings Ltd.		8,627		342,751
Kemper Corp.		19,367		747,566
Maiden Holdings Ltd.		25,079		278,377
PICO Holdings, Inc. (a)		10,254		179,445
				2,557,000
Insurance: Property-Casualty — 1.8%
AMERISAFE, Inc.		8,607		490,169
AmTrust Financial Services, Inc.		39,210		593,639
Argo Group International Holdings Ltd.		13,555		821,433
Baldwin & Lyons, Inc., Class B		5,002		122,549
Blue Capital Reinsurance Holdings Ltd.		3,407		62,348
Donegal Group, Inc., Class A		4,957		78,816
EMC Insurance Group, Inc.		4,636		128,788
Employers Holdings, Inc.		14,879		629,382
Enstar Group Ltd. (a)		5,201		1,033,179
Essent Group Ltd. (a)		35,035		1,301,200

See Notes to Financial Statements.

50 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Insurance: Property-Casualty (continued)
Federated National Holding Co.		5,828	$	93,248
Genworth Financial, Inc., Class A (a)		187,776		707,916
Global Indemnity Ltd. (a)		4,138		160,430
Greenlight Capital Re Ltd., Class A (a)		14,134		295,401
Hallmark Financial Services, Inc. (a)		7,258		81,798
HCI Group, Inc.		3,838		180,309
Heritage Insurance Holdings, Inc.		13,099		170,549
Hilltop Holdings, Inc.		34,353		900,392
Infinity Property & Casualty Corp.		5,133		482,502
Investors Title Co.		722		139,664
Kingstone Cos., Inc.		4,257		65,132
Kinsale Capital Group, Inc.		6,695		249,790
National General Holdings Corp.		23,175		488,993
Navigators Group, Inc.		9,749		535,220
NI Holdings, Inc. (a)		4,743		84,805
NMI Holdings, Inc., Class A (a)		26,366		301,891
OneBeacon Insurance Group Ltd., Class A		10,541		192,162
Radian Group, Inc.		99,045		1,619,386
RLI Corp.		17,752		969,614
Safety Insurance Group, Inc.		4,808		328,386
Selective Insurance Group, Inc.		26,194		1,311,010
State Auto Financial Corp.		7,939		204,270
State National Cos., Inc.		14,158		260,224
Stewart Information Services Corp.		10,030		455,161
United Fire Group, Inc.		7,192		316,880
United Insurance Holdings Corp.		8,529		134,161
Universal Insurance Holdings, Inc.		14,275		359,730
WMIH Corp. (a)		88,609		110,761
				16,461,288
International Trade & Diversified Logistic — 0.0%
Global Sources Ltd. (a)		3,838		76,760
Radiant Logistics, Inc. (a)		15,690		84,412
Vectrus, Inc. (a)		5,118		165,414
				326,586
Internet Software & Services — 0.5%
Amber Road, Inc. (a)		9,054		77,593
ChannelAdvisor Corp. (a)		11,200		129,360
Global Eagle Entertainment, Inc. (a)		24,018		85,504
Gogo, Inc. (a)		26,115		301,106
GrubHub, Inc. (a)		38,291		1,669,488
Quotient Technology, Inc. (a)		33,367		383,720
TrueCar, Inc. (a)		28,587		569,739
Zendesk, Inc. (a)		44,342		1,231,821
				4,448,331
Leisure Time — 1.1%
Acushnet Holdings Corp.		10,223		202,824
American Outdoor Brands Corp. (a)		25,917		574,321
Black Diamond, Inc. (a)		8,257		54,909
Callaway Golf Co.		42,857		547,713
Churchill Downs, Inc.		6,196		1,135,727
ClubCorp Holdings, Inc.		29,937		392,175
Drive Shack, Inc.		19,316		60,845
Escalade, Inc.		4,967		65,068
ILG, Inc.		47,573		1,307,782
International Speedway Corp., Class A		8,613		323,418
Johnson Outdoors, Inc., Class A		2,210		106,544
Liberty TripAdvisor Holdings, Inc., Series A (a)		33,073		383,647
Lindblad Expeditions Holdings, Inc. (a)		9,318		97,839
Marriott Vacations Worldwide Corp.		9,875		1,162,781
Nautilus, Inc. (a)		14,103		270,073
Planet Fitness, Inc., Class A		38,842		906,572
RCI Hospitality Holdings, Inc.		4,009		95,575
SeaWorld Entertainment, Inc.		31,253		508,486
Speedway Motorsports, Inc.		5,820		106,331
Sturm Ruger & Co., Inc.		7,907		491,420

Common Stocks	Shares		Value
Leisure Time (continued)
Travelport Worldwide Ltd.		56,856	$	782,339
Vista Outdoor, Inc. (a)		25,989		585,012
West Marine, Inc.		8,598		110,484
				10,271,885
Life Sciences Tools & Services — 0.0%
WaVe Life Sciences Ltd. (a)(b)		5,192		96,571
Luxury Items — 0.0%
Movado Group, Inc.		7,041		177,785
Machinery: Agricultural — 0.1%
Alamo Group, Inc.		4,284		389,030
Lindsay Corp.		4,852		433,041
Titan International, Inc.		22,688		272,483
Titan Machinery, Inc. (a)		8,411		151,230
				1,245,784
Machinery: Construction & Handling — 0.1%
Astec Industries, Inc.		9,699		538,392
Douglas Dynamics, Inc.		10,257		337,455
NACCO Industries, Inc., Class A		1,941		137,520
				1,013,367
Machinery: Engines — 0.1%
Briggs & Stratton Corp.		19,185		462,358
Machinery: Industrial — 1.5%
Actuant Corp., Class A		27,025		664,815
Altra Industrial Motion Corp.		13,067		520,067
Applied Industrial Technologies, Inc.		17,430		1,029,241
Chart Industries, Inc. (a)		14,057		488,200
Columbus McKinnon Corp.		8,556		217,494
DXP Enterprises, Inc. (a)		7,424		256,128
EnPro Industries, Inc.		9,666		689,862
EnviroStar, Inc.		1,495		40,440
ExOne Co. (a)		5,823		66,673
Gencor Industries, Inc. (a)		3,605		58,401
Graham Corp.		4,176		82,100
Hardinge, Inc.		5,644		70,098
Hyster-Yale Materials Handling, Inc.		4,725		331,931
Intevac, Inc. (a)		8,430		93,573
John Bean Technologies Corp.		14,302		1,401,596
Kadant, Inc.		4,889		367,653
Kennametal, Inc.		36,778		1,376,233
Manitowoc Co., Inc. (a)		59,021		354,716
Milacron Holdings Corp. (a)		20,495		360,507
MTS Systems Corp.		7,656		396,581
Omega Flex, Inc.		1,376		88,614
Proto Labs, Inc. (a)		11,414		767,592
SPX Corp. (a)		19,713		495,979
SPX FLOW, Inc. (a)		18,766		692,090
Supreme Industries, Inc., Class A		6,596		108,504
Tennant Co.		7,907		583,537
Twin Disc, Inc. (a)		3,350		54,069
Woodward, Inc.		24,246		1,638,545
				13,295,239
Machinery: Specialty — 0.1%
Albany International Corp., Class A		13,023		695,428
Hurco Cos., Inc.		2,963		102,964
				798,392
Manufactured Housing — 0.1%
Cavco Industries, Inc. (a)		3,947		511,729
Medical & Dental Instruments & Supplies — 2.4%
American Renal Associates Holdings, Inc. (a)		4,371		81,082
AngioDynamics, Inc. (a)		16,286		263,996
Anika Therapeutics, Inc. (a)		6,666		328,901
Antares Pharma, Inc. (a)		63,952		205,925

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 51

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Medical & Dental Instruments & Supplies (continued)
AtriCure, Inc. (a)		14,228	$	345,029
Atrion Corp.		624		401,419
AxoGen, Inc. (a)		12,010		201,168
Cantel Medical Corp.		16,187		1,261,129
Cardiovascular Systems, Inc. (a)		14,547		468,850
Cerus Corp. (a)		48,362		121,389
Community Health Systems, Inc. (a)		43,638		434,635
CONMED Corp.		12,482		635,833
Cotiviti Holdings, Inc. (a)		12,394		460,313
CryoLife, Inc. (a)		14,810		295,460
Cutera, Inc. (a)		5,909		153,043
Endologix, Inc. (a)		36,686		178,294
Entellus Medical, Inc. (a)		5,039		83,446
Exactech, Inc. (a)		4,863		144,917
Halyard Health, Inc. (a)		21,567		847,152
ICU Medical, Inc. (a)		6,744		1,163,340
Insulet Corp. (a)		25,635		1,315,332
Integra LifeSciences Holdings Corp. (a)		27,661		1,507,801
Intersect ENT, Inc. (a)		11,894		332,437
Invacare Corp.		15,395		203,214
K2M Group Holdings, Inc. (a)		18,324		446,373
Landauer, Inc.		4,168		217,986
LeMaitre Vascular, Inc.		6,924		216,167
LivaNova PLC (a)		22,130		1,354,577
Meridian Bioscience, Inc.		18,923		298,037
Merit Medical Systems, Inc. (a)		22,307		851,012
NanoString Technologies, Inc. (a)		7,823		129,392
Neogen Corp. (a)		16,430		1,135,477
NuVasive, Inc. (a)		22,765		1,751,084
Ocular Therapeutix, Inc. (a)(b)		10,651		98,735
OraSure Technologies, Inc. (a)		25,769		444,773
Orthofix International NV (a)		7,991		371,422
Owens & Minor, Inc.		27,897		898,004
Quidel Corp. (a)		12,823		348,016
Sientra, Inc. (a)		5,511		53,567
Staar Surgical Co. (a)		18,254		197,143
SurModics, Inc. (a)		6,031		169,773
Utah Medical Products, Inc.		1,547		112,003
ViewRay, Inc. (a)(b)		12,853		83,159
Wright Medical Group NV (a)		47,572		1,307,754
				21,918,559
Medical Equipment — 1.1%
Abaxis, Inc.		9,950		527,549
Accuray, Inc. (a)		36,365		172,734
Analogic Corp.		5,680		412,652
ConforMIS, Inc. (a)		17,499		75,071
Corindus Vascular Robotics, Inc. (a)(b)		34,963		65,031
Fluidigm Corp. (a)		12,155		49,106
FONAR Corp. (a)		2,704		75,036
Glaukos Corp. (a)		13,078		542,345
Haemonetics Corp. (a)		24,069		950,485
iRhythm Technologies, Inc. (a)		6,214		264,033
Lantheus Holdings, Inc. (a)		12,000		211,800
Luminex Corp.		18,303		386,559
Masimo Corp. (a)		20,220		1,843,659
Natus Medical, Inc. (a)		14,843		553,644
Nevro Corp. (a)		12,675		943,400
NxStage Medical, Inc. (a)		29,860		748,590
Obalon Therapeutics, Inc. (a)		3,687		36,538
Oxford Immunotec Global PLC (a)		10,346		174,020
Quotient Ltd. (a)		11,099		81,689
Spectranetics Corp. (a)		19,595		752,448
Tactile Systems Technology, Inc. (a)		4,004		114,434
Varex Imaging Corp. (a)		17,054		576,425
Viveve Medical, Inc. (a)		6,359		45,658
				9,602,906

Common Stocks	Shares		Value
Medical Services — 0.2%
PAREXEL International Corp. (a)		22,641	$	1,967,729
Metal Fabricating — 0.8%
Advanced Drainage Systems, Inc.		16,165		324,917
Ampco-Pittsburgh Corp.		4,162		61,390
DMC Global, Inc.		6,241		81,757
The Eastern Co.		2,289		68,784
Global Brass & Copper Holdings, Inc.		10,064		307,455
Haynes International, Inc.		5,488		199,269
Lawson Products, Inc. (a)		2,971		65,808
LB Foster Co., Class A		3,296		70,699
MRC Global, Inc. (a)		40,976		676,924
Mueller Industries, Inc.		25,834		786,645
Mueller Water Products, Inc., Series A		70,828		827,271
NN, Inc.		12,578		345,266
Northwest Pipe Co. (a)		3,866		62,861
RBC Bearings, Inc. (a)		10,578		1,076,417
Rexnord Corp. (a)		47,568		1,105,956
Worthington Industries, Inc.		19,367		972,611
				7,034,030
Metals & Minerals: Diversified — 0.8%
Cliffs Natural Resources, Inc. (a)		136,752		946,324
Commercial Metals Co.		52,862		1,027,109
Compass Minerals International, Inc.		15,486		1,011,236
Ferroglobe PLC (d)		23,038		—
Hecla Mining Co.		174,492		889,909
Materion Corp.		8,848		330,915
Minerals Technologies, Inc.		15,985		1,170,102
Oil-Dri Corp. of America		2,244		94,270
Ring Energy, Inc. (a)		21,227		275,951
SunCoke Energy, Inc. (a)		29,149		317,724
U.S. Silica Holdings, Inc.		37,363		1,326,013
United States Lime & Minerals, Inc.		648		50,849
				7,440,402
Office Supplies & Equipment — 0.5%
ACCO Brands Corp. (a)		49,270		573,996
Eastman Kodak Co. (a)		7,224		65,738
Electronics for Imaging, Inc. (a)		21,020		995,928
Essendant, Inc.		17,306		256,648
Herman Miller, Inc.		27,220		827,488
HNI Corp.		20,137		802,862
Kimball International, Inc., Class B		16,355		272,965
Knoll, Inc.		22,061		442,323
Steelcase, Inc., Class A		39,240		549,360
				4,787,308
Offshore Drilling & Other Services — 0.1%
Atwood Oceanics, Inc. (a)		34,935		284,720
Diamond Offshore Drilling, Inc. (a)(b)		29,316		317,493
Noble Corp. PLC		110,313		399,333
SEACOR Marine Holdings, Inc. (a)		7,045		143,436
Seadrill Ltd. (a)		1,755		633
				1,145,615
Oil Well Equipment & Services — 1.0%
Basic Energy Services, Inc. (a)		7,712		192,029
C&J Energy Services, Inc. (a)		21,093		722,857
Dril-Quip, Inc. (a)		17,263		842,434
Ensco PLC, Class A		139,804		721,389
Fairmount Santrol Holdings, Inc. (a)(b)		70,572		275,231
Flotek Industries, Inc. (a)		26,281		234,952
Forum Energy Technologies, Inc. (a)		31,675		494,130
Frank’s International NV		21,672		179,661
Gulf Island Fabrication, Inc.		5,546		64,334
Helix Energy Solutions Group, Inc. (a)		65,361		368,636
Independence Contract Drilling, Inc. (a)		15,362		59,758

See Notes to Financial Statements.

52 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Oil Well Equipment & Services (continued)
Keane Group, Inc. (a)		13,601	$	217,616
Key Energy Services, Inc. (a)		4,387		84,406
Mammoth Energy Services, Inc. (a)		3,974		73,916
Matrix Service Co. (a)		12,124		113,359
McDermott International, Inc. (a)		129,367		927,561
Natural Gas Services Group, Inc. (a)		5,591		138,936
NCS Multistage Holdings, Inc. (a)		4,964		124,994
Newpark Resources, Inc. (a)		39,856		292,942
Oil States International, Inc. (a)		23,544		639,220
Parker Drilling Co. (a)		60,231		81,312
ProPetro Holding Corp. (a)		11,373		158,767
RigNet, Inc. (a)		6,327		101,548
Rowan Cos. PLC, Class A (a)		53,507		547,912
SEACOR Holdings, Inc. (a)		7,528		258,210
Select Energy Services, Inc. (a)		1,629		19,792
Smart Sand, Inc. (a)		9,473		84,404
Solaris Oilfield Infrastructure, Inc., Class A (a)		4,282		49,372
Superior Energy Services, Inc. (a)		68,928		718,919
Tesco Corp. (a)		18,800		83,660
TETRA Technologies, Inc. (a)		52,521		146,534
Willbros Group, Inc. (a)		16,055		39,656
				9,058,447
Oil, Gas & Consumable Fuels — 0.2%
Archrock, Inc.		32,290		368,106
Ardmore Shipping Corp.		12,229		99,666
CARBO Ceramics, Inc. (a)		9,379		64,246
DHT Holdings, Inc.		36,206		150,255
Dorian LPG Ltd. (a)		9,832		80,426
Exterran Corp. (a)		14,377		383,866
Frontline Ltd.		34,658		198,590
Gastar Exploration, Inc. (a)		79,081		73,229
Navios Maritime Acquisition Corp.		49,984		73,476
Pacific Ethanol, Inc. (a)		18,342		114,638
Plug Power, Inc. (a)		101,213		206,475
				1,812,973
Oil: Crude Producers — 1.3%
Abraxas Petroleum Corp. (a)		69,562		112,690
Approach Resources, Inc. (a)		18,085		60,947
Bill Barrett Corp. (a)		35,262		108,254
Bonanza Creek Energy, Inc. (a)		9,092		288,307
California Resources Corp. (a)		19,674		168,213
Callon Petroleum Co. (a)		92,418		980,555
Carrizo Oil & Gas, Inc. (a)		28,764		501,069
Contango Oil & Gas Co. (a)		12,085		80,244
CVR Energy, Inc.		7,450		162,112
Denbury Resources, Inc. (a)		186,898		285,954
Earthstone Energy, Inc. (a)		3,908		39,119
Eclipse Resources Corp. (a)		38,479		110,050
Energy XXI Gulf Coast, Inc. (a)		13,671		253,871
Evolution Petroleum Corp.		12,964		105,008
Halcon Resources Corp. (a)		26,982		122,498
Isramco, Inc. (a)		229		26,198
Jagged Peak Energy, Inc. (a)		15,456		206,338
Jones Energy, Inc., Class A (a)(b)		26,962		43,139
Lilis Energy, Inc. (a)(b)		18,959		92,899
Midstates Petroleum Co., Inc. (a)		5,546		70,268
Oasis Petroleum, Inc. (a)		108,924		876,838
ONE Gas, Inc.		23,594		1,647,097
Overseas Shipholding Group, Inc., Class A (a)		20,180		53,679
Panhandle Oil and Gas, Inc., Class A		7,713		178,170
PDC Energy, Inc. (a)		30,234		1,303,388
Penn Virginia Corp. (a)		6,579		241,778
Resolute Energy Corp. (a)		9,998		297,641
Rosehill Resources, Inc. (a)		2,024		16,880
Sanchez Energy Corp. (a)(b)		21,518		154,499

Common Stocks	Shares		Value
Oil: Crude Producers (continued)
SandRidge Energy, Inc. (a)		15,782	$	271,608
SilverBow Resources, Inc. (a)		3,374		88,264
SRC Energy, Inc. (a)		91,936		618,729
Stone Energy Corp. (a)		8,687		159,667
Tellurian, Inc. (a)(b)		25,303		253,789
Ultra Petroleum Corp. (a)		89,015		965,813
Unit Corp. (a)		24,233		453,884
W&T Offshore, Inc. (a)		42,258		82,826
WildHorse Resource Development Corp. (a)		8,862		109,623
				11,591,906
Oil: Refining & Marketing — 0.2%
Adams Resources & Energy, Inc.		973		39,971
Alon USA Energy, Inc.		14,818		197,376
Clean Energy Fuels Corp. (a)		60,456		153,558
Delek U.S. Holdings, Inc.		27,984		739,897
Par Pacific Holdings, Inc. (a)		14,701		265,206
Renewable Energy Group, Inc. (a)		17,194		222,662
Trecora Resources (a)		9,061		101,936
				1,720,606
Paints & Coatings — 0.3%
Chase Corp.		3,199		341,333
Ferro Corp. (a)		38,817		709,963
HB Fuller Co.		23,185		1,184,986
Kronos Worldwide, Inc.		10,124		184,459
				2,420,741
Paper — 0.3%
Clearwater Paper Corp. (a)		7,432		347,446
KapStone Paper and Packaging Corp.		39,888		822,889
Neenah Paper, Inc.		7,530		604,282
PH Glatfelter Co.		20,438		399,359
Schweitzer-Mauduit International, Inc.		14,201		528,703
Verso Corp., Class A (a)		15,879		74,473
				2,777,152
Personal Care — 0.1%
Orchids Paper Products Co.		3,837		49,689
USANA Health Sciences, Inc. (a)		5,267		337,615
WD-40 Co.		6,246		689,246
				1,076,550
Pharmaceuticals — 2.5%
Abeona Therapeutics, Inc. (a)(b)		9,793		62,675
Achaogen, Inc. (a)		13,169		286,162
Achillion Pharmaceuticals, Inc. (a)		54,156		248,576
Aclaris Therapeutics, Inc. (a)		9,047		245,355
Adamas Pharmaceuticals, Inc. (a)		6,938		121,346
Aerie Pharmaceuticals, Inc. (a)		13,899		730,392
Amphastar Pharmaceuticals, Inc. (a)		16,947		302,673
Aratana Therapeutics, Inc. (a)		17,810		128,766
Biospecifics Technologies Corp. (a)		2,573		127,389
Cambrex Corp. (a)		14,814		885,137
Cempra, Inc. (a)		22,239		102,299
Chimerix, Inc. (a)		21,430		116,794
Conatus Pharmaceuticals, Inc. (a)		11,640		67,046
Concert Pharmaceuticals, Inc. (a)		8,801		122,774
Corcept Therapeutics, Inc. (a)		41,479		489,452
Corvus Pharmaceuticals, Inc. (a)		3,295		39,870
Depomed, Inc. (a)		26,182		281,195
Durect Corp. (a)		64,677		100,896
Eagle Pharmaceuticals, Inc. (a)		3,797		299,545
Enanta Pharmaceuticals, Inc. (a)		7,082		254,810
Esperion Therapeutics, Inc. (a)		7,045		326,043
Heska Corp. (a)		2,971		303,250
Horizon Pharma PLC (a)		74,534		884,719
Immune Design Corp. (a)		7,129		69,508

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 53

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Pharmaceuticals (continued)
Impax Laboratories, Inc. (a)		33,984	$	547,142
Innoviva, Inc. (a)		34,790		445,312
Intra-Cellular Therapies, Inc. (a)		15,775		195,926
Ironwood Pharmaceuticals, Inc. (a)		61,309		1,157,514
Kite Pharma, Inc. (a)		21,808		2,260,835
La Jolla Pharmaceutical Co. (a)		8,097		241,048
Lannett Co., Inc. (a)		13,223		269,749
Medicines Co. (a)		31,599		1,201,078
MyoKardia, Inc. (a)		7,514		98,433
Otonomy, Inc. (a)		12,475		235,154
Pacira Pharmaceuticals, Inc. (a)		17,884		853,067
Paratek Pharmaceuticals, Inc. (a)		10,602		255,508
Portola Pharmaceuticals, Inc. (a)		22,647		1,272,082
Prestige Brands Holdings, Inc. (a)		23,393		1,235,384
Radius Health, Inc. (a)		16,981		768,051
Reata Pharmaceuticals, Inc., Class A (a)		3,786		119,789
Revance Therapeutics, Inc. (a)		10,538		278,203
Sciclone Pharmaceuticals, Inc. (a)		24,340		267,740
Spectrum Pharmaceuticals, Inc. (a)		33,557		250,000
Supernus Pharmaceuticals, Inc. (a)		21,612		931,477
Syndax Pharmaceuticals, Inc. (a)		3,693		51,591
Teligent, Inc. (a)		18,403		168,387
TG Therapeutics, Inc. (a)		21,932		220,417
TherapeuticsMD, Inc. (a)(b)		70,628		372,210
Theravance Biopharma, Inc. (a)		19,014		757,518
Ultragenyx Pharmaceutical, Inc. (a)		18,102		1,124,315
Voyager Therapeutics, Inc. (a)		5,909		52,945
Zogenix, Inc. (a)		11,452		166,054
Zynerba Pharmaceuticals, Inc. (a)		5,006		84,952
				22,478,553
Photography — 0.0%
GoPro, Inc., Class A (a)(b)		49,202		400,012
Plastics — 0.2%
A. Schulman, Inc.		12,763		408,416
Core Molding Technologies, Inc. (a)		3,068		66,299
Ply Gem Holdings, Inc. (a)		9,966		178,890
Trinseo SA		19,621		1,347,963
				2,001,568
Power Transmission Equipment — 0.3%
Advanced Energy Industries, Inc. (a)		18,008		1,164,938
Generac Holdings, Inc. (a)		28,027		1,012,615
Maxwell Technologies, Inc. (a)		14,846		88,928
Powell Industries, Inc.		4,127		132,023
Vicor Corp. (a)		7,166		128,271
				2,526,775
Printing & Copying Services — 0.2%
Casella Waste Systems, Inc., Class A (a)		18,077		296,643
Cimpress NV (a)		11,437		1,081,140
				1,377,783
Producer Durables: Miscellaneous — 0.0%
Advanced Disposal Services, Inc. (a)		11,510		261,623
Park-Ohio Holdings Corp.		3,973		151,371
				412,994
Production Technology Equipment — 0.8%
Axcelis Technologies, Inc. (a)		13,668		286,345
Brooks Automation, Inc.		31,185		676,403
Cohu, Inc.		11,983		188,612
CyberOptics Corp. (a)		3,022		62,404
Electro Scientific Industries, Inc. (a)		14,907		122,834
Entegris, Inc. (a)		64,515		1,416,104
Ichor Holdings Ltd. (a)		5,179		104,409
MKS Instruments, Inc.		24,217		1,629,804
Nanometrics, Inc. (a)		11,041		279,227

Common Stocks	Shares		Value
Production Technology Equipment (continued)
Photronics, Inc. (a)		30,775	$	289,285
Rudolph Technologies, Inc. (a)		14,375		328,469
Ultra Clean Holdings, Inc. (a)		14,970		280,687
Veeco Instruments, Inc. (a)		21,782		606,629
Xperi Corp.		22,414		667,937
				6,939,149
Publishing — 0.4%
Daily Journal Corp. (a)		491		101,283
Eros International PLC (a)		12,300		140,835
Meredith Corp.		18,055		1,073,370
New Media Investment Group, Inc.		23,762		320,312
New York Times Co., Class A		57,289		1,014,015
Scholastic Corp.		12,914		562,921
Time, Inc.		45,993		660,000
				3,872,736
Radio & TV Broadcasters — 0.6%
Beasley Broadcasting Group, Inc., Class A		2,179		21,354
Central European Media Enterprises Ltd., Class A (a)		37,368		149,472
Entercom Communications Corp., Class A (b)		13,781		142,633
Entravision Communications Corp., Class A		29,432		194,251
Gannett Co., Inc.		52,805		460,460
Gray Television, Inc. (a)		29,310		401,547
Liberty Braves Group, Class A (a)		4,386		104,782
Liberty Braves Group, Class C (a)		15,977		382,969
MSG Networks, Inc., Class A (a)		27,505		617,487
Nexstar Media Group, Inc., Class A		20,032		1,197,914
Saga Communications, Inc., Class A		1,726		78,964
Salem Media Group, Inc., Class A		6,171		43,814
Sinclair Broadcast Group, Inc., Class A		33,058		1,087,608
Townsquare Media, Inc. (a)		4,998		51,180
TRONC, Inc. (a)		9,300		119,877
				5,054,312
Railroad Equipment — 0.1%
American Railcar Industries, Inc.		3,634		139,182
FreightCar America, Inc.		5,947		103,418
Greenbrier Cos., Inc.		12,762		590,243
				832,843
Real Estate — 0.3%
AV Homes, Inc. (a)		5,723		114,746
Consolidated-Tomoka Land Co.		1,862		106,041
Forestar Group, Inc. (a)		11,262		193,143
HFF, Inc., Class A		17,040		592,481
Kennedy-Wilson Holdings, Inc.		38,879		740,645
RMR Group, Inc., Class A		3,275		159,329
St. Joe Co. (a)		21,237		398,194
Stratus Properties, Inc.		3,011		88,523
Tejon Ranch Co. (a)		6,703		138,350
Trinity Place Holdings, Inc. (a)		8,745		62,177
				2,593,629
Real Estate Investment Trusts (REITs) — 7.4%
Acadia Realty Trust		38,325		1,065,435
AG Mortgage Investment Trust, Inc.		10,816		197,933
Agree Realty Corp.		11,504		527,688
Alexander & Baldwin, Inc.		21,228		878,415
Alexander’s, Inc.		958		403,759
Altisource Residential Corp.		23,553		304,776
American Assets Trust, Inc.		18,615		733,245
Anworth Mortgage Asset Corp.		35,109		211,005
Apollo Commercial Real Estate Finance, Inc.		41,006		760,661
Ares Commercial Real Estate Corp.		14,378		188,208
Armada Hoffler Properties, Inc.		20,969		271,549
ARMOUR Residential REIT, Inc.		15,608		390,200
Ashford Hospitality Prime, Inc.		14,359		147,754

See Notes to Financial Statements.

54 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Real Estate Investment Trusts (REITs) (continued)
Ashford Hospitality Trust, Inc.		36,726	$	223,294
Bluerock Residential Growth REIT, Inc.		12,503		161,164
Capstead Mortgage Corp.		43,648		455,249
Care Capital Properties, Inc.		25,076		669,529
CareTrust REIT, Inc.		33,146		614,527
Catchmark Timber Trust, Inc., Class A		17,593		200,032
CBL & Associates Properties, Inc.		77,139		650,282
Cedar Realty Trust, Inc.		40,214		195,038
Chatham Lodging Trust		16,250		326,462
Cherry Hill Mortgage Investment Corp.		6,910		127,628
Chesapeake Lodging Trust		26,757		654,744
City Office REIT, Inc.		14,332		182,016
Clipper Realty, Inc.		7,417		91,526
Colony Starwood Homes		45,588		1,564,124
Community Healthcare Trust, Inc.		6,408		163,981
CorEnergy Infrastructure Trust, Inc.		6,000		201,540
Cousins Properties, Inc.		192,041		1,688,040
CYS Investments, Inc.		71,626		602,375
DiamondRock Hospitality Co.		92,635		1,014,353
Dynex Capital, Inc.		23,654		167,943
Easterly Government Properties, Inc.		17,380		364,111
EastGroup Properties, Inc.		15,123		1,267,307
Education Realty Trust, Inc.		33,113		1,283,129
Ellington Residential Mortgage REIT		4,505		66,043
Farmland Partners, Inc.		14,877		133,000
FelCor Lodging Trust, Inc.		60,841		438,664
First Industrial Realty Trust, Inc.		53,265		1,524,444
First Potomac Realty Trust		28,218		313,502
Four Corners Property Trust, Inc.		28,346		711,768
Franklin Street Properties Corp.		49,173		544,837
Geo Group, Inc.		55,927		1,653,761
Getty Realty Corp.		12,617		316,687
Gladstone Commercial Corp.		11,756		256,163
Global Medical REIT, Inc.		7,449		66,594
Global Net Lease, Inc.		31,793		707,076
Government Properties Income Trust		17,876		327,310
Gramercy Property Trust		68,236		2,027,292
Great Ajax Corp.		8,971		125,415
Healthcare Realty Trust, Inc.		52,491		1,792,568
Hersha Hospitality Trust		19,133		354,152
Independence Realty Trust, Inc.		24,819		244,964
InfraREIT, Inc.		20,301		388,764
Invesco Mortgage Capital, Inc.		50,643		846,245
Investors Real Estate Trust		57,418		356,566
iStar, Inc. (a)		33,025		397,621
Jernigan Capital, Inc.		4,667		102,674
Kite Realty Group Trust		37,222		704,612
KKR Real Estate Finance Trust, Inc.		4,706		101,179
LaSalle Hotel Properties		51,064		1,521,707
Lexington Realty Trust		95,704		948,427
LTC Properties, Inc.		17,842		916,900
Mack-Cali Realty Corp.		39,570		1,073,930
MedEquities Realty Trust, Inc.		12,813		161,700
Monmouth Real Estate Investment Corp.		32,988		496,469
Monogram Residential Trust, Inc.		79,189		768,925
MTGE Investment Corp.		22,042		414,390
National Health Investors, Inc.		18,140		1,436,688
National Storage Affiliates Trust		20,805		480,804
New Senior Investment Group, Inc.		34,807		349,810
New York Mortgage Trust, Inc.		47,648		296,371
NexPoint Residential Trust, Inc.		8,343		207,657
NorthStar Realty Europe Corp.		25,248		320,145
One Liberty Properties, Inc.		7,460		174,788
Orchid Island Capital, Inc. (b)		14,507		143,039
Owens Realty Mortgage, Inc.		4,942		83,816
Parkway, Inc.		19,906		455,648
Pebblebrook Hotel Trust		30,327		977,742

Common Stocks	Shares		Value
Real Estate Investment Trusts (REITs) (continued)
Pennsylvania Real Estate Investment Trust		33,137	$	375,111
PennyMac Mortgage Investment Trust (c)		24,352		445,398
Physicians Realty Trust		69,164		1,392,963
Potlatch Corp.		18,686		853,950
Preferred Apartment Communities, Inc., Class A		15,006		236,344
PS Business Parks, Inc.		8,965		1,186,876
QTS Realty Trust, Inc., Class A		21,609		1,130,799
Quality Care Properties, Inc. (a)		43,128		789,674
RAIT Financial Trust		22,437		49,137
Ramco-Gershenson Properties Trust		34,888		450,055
Redwood Trust, Inc.		36,261		617,887
Resource Capital Corp.		13,115		133,380
Retail Opportunity Investments Corp.		50,190		963,146
Rexford Industrial Realty, Inc.		30,592		839,444
RLJ Lodging Trust		56,712		1,126,867
Sabra Health Care REIT, Inc.		29,996		722,904
Saul Centers, Inc.		5,220		302,656
Select Income REIT		27,953		671,711
Seritage Growth Properties, Class A (b)		11,789		494,549
STAG Industrial, Inc.		41,354		1,141,370
Summit Hotel Properties, Inc.		47,300		882,145
Sunstone Hotel Investors, Inc.		99,583		1,605,278
Sutherland Asset Management Corp.		8,859		131,556
Terreno Realty Corp.		22,580		760,043
Tier REIT, Inc.		22,171		409,720
UMH Properties, Inc.		13,014		221,889
Universal Health Realty Income Trust		5,544		440,970
Urban Edge Properties		44,895		1,065,358
Urstadt Biddle Properties, Inc., Class A		7,066		139,907
Washington Prime Group, Inc.		87,817		735,028
Washington Real Estate Investment Trust		35,626		1,136,469
Western Asset Mortgage Capital Corp.		16,160		166,448
Whitestone REIT		16,836		206,241
Xenia Hotels & Resorts, Inc.		49,108		951,222
				67,456,374
Real Estate Management & Development — 0.0%
Maui Land & Pineapple Co., Inc. (a)		3,014		61,184
Transcontinental Realty Investors, Inc. (a)(b)		670		18,016
				79,200
Recreational Vehicles & Boats — 0.2%
Camping World Holdings, Inc., Class A		5,671		174,950
LCI Industries		10,597		1,085,133
Malibu Boats, Inc. (a)		8,424		217,929
Marine Products Corp.		3,962		61,847
MCBC Holdings, Inc. (a)		8,537		166,898
Winnebago Industries, Inc.		14,267		499,345
				2,206,102
Rental & Leasing Services: Consumer — 0.2%
Avis Budget Group, Inc. (a)		34,368		937,215
Hertz Global Holdings, Inc. (a)		24,893		286,270
Rent-A-Center, Inc.		19,928		233,556
				1,457,041
Restaurants — 1.9%
Biglari Holdings, Inc. (a)		468		187,078
BJ’s Restaurants, Inc. (a)		9,545		355,551
Bloomin’ Brands, Inc.		45,657		969,298
Bob Evans Farms, Inc.		8,967		644,100
Bojangles’, Inc. (a)		7,670		124,638
Brinker International, Inc.		22,686		864,337
Buffalo Wild Wings, Inc. (a)		6,758		856,239
Carrols Restaurant Group, Inc. (a)		15,198		186,175
Cheesecake Factory, Inc.		20,489		1,030,597
Cracker Barrel Old Country Store, Inc.		8,704		1,455,744
Dave & Buster’s Entertainment, Inc. (a)		18,963		1,261,229

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 55

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Restaurants (continued)
Del Taco Restaurants, Inc. (a)		14,886	$	204,682
Denny’s Corp. (a)		32,342		380,665
DineEquity, Inc.		8,117		357,554
El Pollo Loco Holdings, Inc. (a)		9,108		126,146
Ellie Mae, Inc. (a)		15,232		1,674,149
Fiesta Restaurant Group, Inc. (a)		11,798		243,629
Fogo De Chao, Inc. (a)		3,947		54,863
Habit Restaurants, Inc., Class A (a)		8,931		141,110
J Alexander’s Holdings, Inc. (a)		5,966		73,084
Jack in the Box, Inc.		14,326		1,411,111
Nathan’s Famous, Inc. (a)		1,435		90,405
Noodles & Co. (a)		3,790		14,781
Papa John’s International, Inc.		12,490		896,282
Potbelly Corp. (a)		10,230		117,645
Red Robin Gourmet Burgers, Inc. (a)		6,017		392,609
Ruby Tuesday, Inc. (a)		30,437		61,178
Ruth’s Hospitality Group, Inc.		13,963		303,695
Shake Shack, Inc., Class A (a)		10,060		350,893
Sonic Corp.		19,295		511,125
Texas Roadhouse, Inc.		30,204		1,538,894
Wingstop, Inc.		13,547		418,602
Zoe’s Kitchen, Inc. (a)		8,985		107,011
				17,405,099
Scientific Instruments: Control & Filter — 0.4%
Brady Corp., Class A		21,399		725,426
CIRCOR International, Inc.		7,711		457,879
Energy Recovery, Inc. (a)		16,214		134,414
ESCO Technologies, Inc.		11,465		683,887
Gorman-Rupp Co.		8,242		209,924
NAPCO Security Technologies, Inc. (a)		4,663		43,832
Sun Hydraulics Corp.		10,811		461,305
Thermon Group Holdings, Inc. (a)		14,428		276,585
Watts Water Technologies, Inc., Class A		11,764		743,485
				3,736,737
Scientific Instruments: Electrical — 0.6%
Allied Motion Technologies, Inc.		3,032		82,531
Atkore International Group, Inc. (a)		15,029		338,904
AZZ, Inc.		11,830		660,114
EnerSys		19,192		1,390,460
Franklin Electric Co., Inc.		19,764		818,230
Littelfuse, Inc.		10,041		1,656,765
Preformed Line Products Co.		1,268		58,861
				5,005,865
Scientific Instruments: Gauges & Meters — 0.2%
Badger Meter, Inc.		12,860		512,471
FARO Technologies, Inc. (a)		7,397		279,607
Itron, Inc. (a)		15,589		1,056,155
Mesa Laboratories, Inc.		1,487		213,102
Vishay Precision Group, Inc. (a)		4,664		80,687
				2,142,022
Scientific Instruments: Pollution Control — 0.3%
Ceco Environmental Corp.		13,666		125,454
Covanta Holding Corp.		53,639		708,035
Darling Ingredients, Inc. (a)		74,699		1,175,762
Heritage-Crystal Clean, Inc. (a)		5,913		94,017
Hudson Technologies, Inc. (a)		16,395		138,538
Team, Inc. (a)		13,253		310,783
U.S. Ecology, Inc.		9,929		501,414
				3,054,003
Securities Brokerage & Services — 0.1%
Gain Capital Holdings, Inc.		17,050		106,222
INTL. FCStone, Inc. (a)		7,346		277,385
Investment Technology Group, Inc.		10,047		213,398

Common Stocks	Shares		Value
Securities Brokerage & Services (continued)
Ladenburg Thalmann Financial Services, Inc. (a)		53,201	$	129,810
Virtu Financial, Inc., Class A		12,017		212,100
				938,915
Semiconductors & Components — 1.9%
Acacia Communications, Inc. (a)		8,435		349,799
Alpha & Omega Semiconductor Ltd. (a)		8,579		143,012
Amkor Technology, Inc. (a)		47,287		461,994
AXT, Inc. (a)		16,406		104,178
CEVA, Inc. (a)		9,894		449,682
Cirrus Logic, Inc. (a)		28,950		1,815,744
Cree, Inc. (a)		44,338		1,092,932
Diodes, Inc. (a)		17,413		418,434
DSP Group, Inc. (a)		9,612		111,499
Emcore Corp.		8,298		88,374
FormFactor, Inc. (a)		32,704		405,530
Inphi Corp. (a)		19,296		661,853
Integrated Device Technology, Inc. (a)		60,928		1,571,333
IXYS Corp.		11,133		183,138
Kopin Corp. (a)		30,444		112,947
Lattice Semiconductor Corp. (a)		55,830		371,828
MACOM Technology Solutions Holdings, Inc. (a)		18,508		1,032,191
MaxLinear, Inc., Class A (a)		27,600		769,764
Monolithic Power Systems, Inc.		17,775		1,713,510
Pixelworks, Inc. (a)		12,700		58,293
Power Integrations, Inc.		13,003		947,919
Rambus, Inc. (a)		50,483		577,021
Semtech Corp. (a)		29,687		1,061,310
Sigma Designs, Inc. (a)		16,298		95,343
Silicon Laboratories, Inc. (a)		19,133		1,307,741
Vishay Intertechnology, Inc.		61,873		1,027,092
				16,932,461
Semiconductors & Semiconductor Equipment — 0.1%
Ambarella, Inc. (a)		14,731		715,190
Xcerra Corp. (a)		23,827		232,790
				947,980
Shipping — 0.4%
Eagle Bulk Shipping, Inc. (a)(b)		15,653		74,039
GasLog Ltd.		19,016		289,994
Genco Shipping & Trading Ltd. (a)		2,797		26,487
Gener8 Maritime, Inc. (a)		21,215		120,713
Golar LNG Ltd.		43,829		975,195
International Seaways, Inc. (a)		13,191		285,849
Matson, Inc.		19,801		594,822
Navios Maritime Holdings, Inc. (a)		36,460		49,950
Nordic American Tankers Ltd. (b)		45,920		291,133
Safe Bulkers, Inc. (a)		20,392		46,698
Scorpio Tankers, Inc.		76,802		304,904
Ship Finance International Ltd.		27,612		375,523
Teekay Corp. (b)		24,888		166,003
Teekay Tankers Ltd., Class A		59,270		111,428
				3,712,738
Software — 0.5%
Actua Corp. (a)		13,922		195,604
Castlight Health, Inc., Class B (a)		27,805		115,391
Five9, Inc. (a)		23,785		511,853
Gigamon, Inc. (a)		16,550		651,242
Instructure, Inc. (a)		9,579		282,581
MobileIron, Inc. (a)		24,436		147,838
Model N, Inc. (a)		10,306		137,070
Park City Group, Inc. (a)		6,159		74,832
Paycom Software, Inc. (a)		22,157		1,515,760
pdvWireless, Inc. (a)		4,592		106,994
Qualys, Inc. (a)		14,334		584,827

See Notes to Financial Statements.

56 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Software (continued)
Rubicon Project, Inc. (a)		19,606	$	100,775
				4,424,767
Specialty Retail — 2.1%
1-800-Flowers.com, Inc., Class A (a)		12,727		124,088
Aaron’s, Inc.		28,253		1,099,042
Abercrombie & Fitch Co., Class A		31,993		397,993
America’s Car-Mart, Inc. (a)		3,312		128,837
American Eagle Outfitters, Inc.		74,026		892,013
Asbury Automotive Group, Inc. (a)		8,663		489,893
Ascena Retail Group, Inc. (a)		77,572		166,780
At Home Group, Inc. (a)		2,393		55,733
Barnes & Noble Education, Inc. (a)		18,259		194,093
Barnes & Noble, Inc.		28,903		219,663
Big 5 Sporting Goods Corp.		8,219		107,258
BMC Stock Holdings, Inc. (a)		29,779		650,671
Boot Barn Holdings, Inc. (a)(b)		6,587		46,636
Buckle, Inc.		12,854		228,801
Build-A-Bear Workshop, Inc. (a)		7,020		73,359
Caleres, Inc.		19,040		528,931
Carvana Co. (a)(b)		6,816		139,524
Cato Corp., Class A		11,435		201,142
Chico’s FAS, Inc.		59,678		562,167
Children’s Place, Inc.		7,847		801,179
Citi Trends, Inc.		5,932		125,877
Conn’s, Inc. (a)(b)		8,819		168,443
Container Store Group, Inc. (a)		8,931		52,872
DSW, Inc., Class A		29,950		530,115
Express, Inc. (a)		36,190		244,282
Finish Line, Inc., Class A		18,553		262,896
Five Below, Inc. (a)		24,543		1,211,688
Francesca’s Holdings Corp. (a)		16,380		179,197
FTD Cos., Inc. (a)		7,600		152,000
Genesco, Inc. (a)		8,639		292,862
GNC Holdings, Inc., Class A (b)		31,240		263,353
Group 1 Automotive, Inc.	��	9,291		588,306
Guess?, Inc.		27,096		346,287
Haverty Furniture Cos., Inc.		8,172		205,117
Hibbett Sports, Inc. (a)		9,643		200,092
J. Jill, Inc. (a)		4,905		60,282
Lands’ End, Inc. (a)(b)		6,127		91,292
Lithia Motors, Inc., Class A		10,626		1,001,288
Lumber Liquidators Holdings, Inc. (a)		12,931		324,051
MarineMax, Inc. (a)		11,927		233,173
Monro Muffler Brake, Inc.		14,402		601,283
Office Depot, Inc.		234,523		1,322,710
Party City Holdco, Inc. (a)		12,129		189,819
Pier 1 Imports, Inc.		36,822		191,106
Regis Corp. (a)		16,841		172,957
Shoe Carnival, Inc.		5,513		115,111
Shutterfly, Inc. (a)		15,694		745,465
Sonic Automotive, Inc., Class A		12,524		243,592
Sportsman’s Warehouse Holdings, Inc. (a)		17,734		95,764
Stamps.com, Inc. (a)		7,028		1,088,461
Systemax, Inc.		5,623		105,712
Tailored Brands, Inc.		22,372		249,672
Tilly’s, Inc., Class A		5,935		60,240
Vitamin Shoppe, Inc. (a)		9,461		110,221
Zumiez, Inc. (a)		8,868		109,520
				19,042,909
Steel — 0.4%
AK Steel Holding Corp. (a)		144,352		948,393
Allegheny Technologies, Inc.		49,549		842,829
Carbonite, Inc. (a)		11,411		248,760
Carpenter Technology Corp.		21,065		788,463
Handy & Harman Ltd. (a)		1,051		33,001

Common Stocks	Shares		Value
Steel (continued)
Olympic Steel, Inc.		3,934	$	76,634
Ryerson Holding Corp. (a)		7,824		77,458
Schnitzer Steel Industries, Inc., Class A		12,017		302,828
Shiloh Industries, Inc. (a)		3,648		42,828
TimkenSteel Corp. (a)		18,358		282,162
				3,643,356
Technology: Miscellaneous — 0.3%
Apptio Inc., Class A (a)		8,031		139,338
Benchmark Electronics, Inc. (a)		22,935		740,801
CTS Corp.		15,070		325,512
Fabrinet (a)		16,631		709,478
Kimball Electronics, Inc. (a)		12,426		224,289
Plexus Corp. (a)		15,464		812,943
				2,952,361
Telecommunications Equipment — 0.5%
Akoustis Technologies, Inc. (a)(b)		3,421		29,899
Applied Optoelectronics, Inc. (a)(b)		8,465		523,052
CalAmp Corp. (a)		16,070		326,703
Clearfield, Inc. (a)		5,134		67,769
Knowles Corp. (a)		40,439		684,228
Oclaro, Inc. (a)		75,620		706,291
Ubiquiti Networks, Inc. (a)		10,611		551,454
Viavi Solutions, Inc. (a)		104,824		1,103,797
Vocera Communications, Inc. (a)		12,709		335,772
				4,328,965
Textile Products — 0.1%
Culp, Inc.		4,889		158,893
Interface, Inc.		28,216		554,444
Unifi, Inc. (a)		6,889		212,181
				925,518
Textiles Apparel & Shoes — 0.7%
Columbia Sportswear Co.		13,160		764,070
Crocs, Inc. (a)		33,191		255,903
Deckers Outdoor Corp. (a)		14,459		986,971
Delta Apparel, Inc. (a)		3,161		70,111
Fossil Group, Inc. (a)		20,824		215,528
G-III Apparel Group Ltd. (a)		20,062		500,547
Iconix Brand Group, Inc. (a)		23,088		159,538
Oxford Industries, Inc.		7,511		469,362
Perry Ellis International, Inc. (a)		6,177		120,204
Sequential Brands Group, Inc. (a)		20,385		81,336
Steven Madden Ltd. (a)		26,891		1,074,296
Superior Uniform Group, Inc.		3,754		83,902
Vera Bradley, Inc. (a)		8,681		84,900
Weyco Group, Inc.		2,961		82,553
Wolverine World Wide, Inc.		43,094		1,207,063
				6,156,284
Tobacco — 0.2%
Turning Point Brands, Inc. (a)		2,100		32,214
Universal Corp.		11,248		727,746
Vector Group Ltd.		42,897		914,564
				1,674,524
Transportation Miscellaneous — 0.2%
Costamare, Inc.		17,430		127,413
Echo Global Logistics, Inc. (a)		13,329		265,247
Hub Group, Inc., Class A (a)		14,860		569,881
Scorpio Bulkers, Inc. (a)		27,837		197,643
Textainer Group Holdings Ltd.		12,314		178,553
Wesco Aircraft Holdings, Inc. (a)		26,455		287,037
				1,625,774

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 57

Schedule of Investments (continued) Master Small Cap Index Series

Common Stocks	Shares		Value
Truckers — 0.7%
ArcBest Corp.		11,700	$	241,020
Covenant Transportation Group, Inc., Class A (a)		5,010		87,825
Daseke, Inc. (a)		8,532		94,961
Forward Air Corp.		13,680		728,871
FRP Holdings, Inc. (a)		3,064		141,404
Heartland Express, Inc.		21,494		447,505
Knight Transportation, Inc.		32,281		1,196,011
Marten Transport Ltd.		10,353		283,672
Roadrunner Transportation Systems, Inc. (a)		15,900		115,593
Saia, Inc. (a)		11,038		566,249
Schneider National, Inc., Class B		14,797		331,009
Swift Transportation Co. (a)		33,514		888,121
Universal Logistics Holdings, Inc.		4,040		60,600
Werner Enterprises, Inc.		21,604		634,077
YRC Worldwide, Inc. (a)		14,772		164,265
				5,981,183
Utilities: Electrical — 1.8%
ALLETE, Inc.		23,161		1,660,181
Atlantic Power Corp. (a)		55,048		132,115
Avista Corp.		29,529		1,253,801
Black Hills Corp.		24,595		1,659,425
El Paso Electric Co.		18,252		943,628
Genie Energy Ltd., Class B		7,011		53,424
IDACORP, Inc.		22,967		1,960,233
MGE Energy, Inc.		15,817		1,017,824
NorthWestern Corp.		22,370		1,365,017
NRG Yield, Inc., Class A		17,360		296,162
NRG Yield, Inc., Class C		28,290		497,904
Otter Tail Corp.		18,093		716,483
Pattern Energy Group, Inc.		32,163		766,766
PNM Resources, Inc.		36,210		1,385,033
Portland General Electric Co.		40,489		1,849,942
Spark Energy, Inc., Class A		5,319		99,997
Unitil Corp.		6,367		307,590
				15,965,525
Utilities: Gas Distributors — 1.0%
Chesapeake Utilities Corp.		7,194		539,190
Delta Natural Gas Co., Inc.		2,895		88,211
New Jersey Resources Corp.		38,880		1,543,536
Northwest Natural Gas Co.		12,948		774,938
RGC Resources, Inc.		2,365		67,000
South Jersey Industries, Inc.		35,997		1,230,017
Southwest Gas Holdings, Inc.		21,592		1,577,512
Spire, Inc.		21,717		1,514,761
WGL Holdings, Inc.		23,266		1,941,082
				9,276,247
Utilities: Miscellaneous — 0.1%
Ormat Technologies, Inc.		18,148		1,064,925
Utilities: Telecommunications — 1.2%
8x8, Inc. (a)		39,995		581,927
ATN International, Inc.		4,867		333,097
Boingo Wireless, Inc. (a)		15,988		239,180
Cincinnati Bell, Inc. (a)		19,778		386,660
Cogent Communications Holdings, Inc.		18,294		733,589
Consolidated Communications Holdings, Inc.		22,549		484,127
Fairpoint Communications, Inc. (a)		9,717		152,071
Frontier Communications Corp. (b)		537,020		622,943
General Communication, Inc., Class A (a)		12,042		441,219
Globalstar, Inc. (a)(b)		202,101		430,475
GTT Communications, Inc. (a)		14,192		449,177
Hawaiian Telcom Holdco, Inc. (a)		2,837		70,897
IDT Corp., Class B		8,131		116,842
Iridium Communications, Inc. (a)		39,094		431,989
j2 Global, Inc.		20,774		1,767,660

Common Stocks	Shares		Value
Utilities: Telecommunications (continued)
Lumos Networks Corp. (a)		10,046	$	179,522
NeuStar, Inc., Class A (a)		5,171		172,453
ORBCOMM, Inc. (a)		30,383		343,328
Shenandoah Telecommunications Co.		21,100		647,770
Spok Holdings, Inc.		9,576		169,495
Straight Path Communications, Inc., Class B (a)		3,952		709,977
Vonage Holdings Corp. (a)		91,631		599,267
West Corp.		20,408		475,915
Windstream Holdings, Inc.		86,441		335,391
				10,874,971
Utilities: Water — 0.3%
American States Water Co.		16,416		778,283
AquaVenture Holdings Ltd. (a)		4,892		74,505
Artesian Resources Corp., Class A		3,330		125,341
California Water Service Group		21,522		792,010
Connecticut Water Service, Inc.		4,978		276,329
Consolidated Water Co. Ltd.		6,961		86,316
Global Water Resources, Inc.		3,965		39,253
Middlesex Water Co.		7,141		282,784
Pure Cycle Corp. (a)		6,131		47,515
SJW Corp.		7,448		366,293
York Water Co.		6,001		209,135
				3,077,764
Total Common Stocks — 96.9%				878,372,550
Investment Companies — 0.4%
iShares Russell 2000 ETF (c)		25,061		3,531,596
Other Interests — 0.0%	Investment Value (000)
Gerber Scientific, Inc. (d)	$	13		129
Rights — 0.0%	Shares
Biotechnology — 0.0%
Dyax Corp., CVR (expires 12/31/19) (a)(d)		39,009		89,331
Total Long-Term Investments (Cost — $715,431,426) — 97.3%				881,993,606
Short-Term Securities
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.84% (c)(e)		10,483,769		10,483,769
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.29% (c)(e)(f)		11,407,711		11,411,133
Total Short-Term Securities (Cost — $21,895,529) — 2.4%				21,894,902
Total Investments (Cost — $737,326,955) — 99.7%				903,888,508
Other Assets Less Liabilities — 0.3%				2,820,813
Net Assets — 100.0%			$	906,709,321

See Notes to Financial Statements.

58 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Schedule of Investments (continued) Master Small Cap Index Series

Notes to Schedule of Investments

(a) Non-income producing security.

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

(c) During the period ended June 30, 2017, investments in issuers considered to be affiliates of the Series for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares/ Investment Value Held at December 31, 2016		Shares/ Investment Value Purchased			Shares/ Investment Value Sold			Shares/ Investment Value Held at June 30, 2017		Value at June 30, 2017		Income			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares		—	$	11,407,711	1		—		$	11,407,711	$	11,411,133	$	471,624	2		—		$	(627	)
BlackRock Liquidity Funds, T-Fund, Institutional Class		37,279,916		—			(26,796,147	)3		10,483,769		10,483,769		48,146			—			—
PennyMac Financial Services, Inc.		3,162		—			—			3,162		52,805		—			—			158
PennyMac Mortgage Investment Trust		22,641		1,711			—			24,352		445,398		11,445			—			45,930
SL Liquidity Series, LLC, Money Market Series	$	8,714,553		—		$	(8,714,553	)3		—		—		—		$	1,735			(580	)
iShares Russell 2000 ETF		—		337,962			(312,901	)		25,061		3,531,596		2,110			(249,566	)		88,382
Total											$	25,924,701	$	533,325		$	(247,831	)	$	133,263
1    Represents net shares/investment purchased.
2   Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.
3    Represents net shares/investment value sold.

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

(e) Current yield as of period end.

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

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
Contracts Long		Issue	Expiration	Notional Value		Unrealized Appreciation
	40	Russell 2000 E-Mini Index	September 2017	$	2,828,600	$	8,009

Derivative Financial Instruments Categorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

Assets — Derivative Financial Instruments		Commodity Contracts		Credit Contracts		Equity Contracts		Foreign Currency Exchange Contracts		Interest Rate Contracts		Other Contracts		Total
Futures contracts	Net unrealized appreciation1		—		—	$	8,009		—		—		—	$	8,009
For the six months ended June 30, 2017, the effect of derivative financial instruments in the Statements of Operations was as follows:
Net Realized Gain (Loss) from:
Futures contracts			—		—	$	745,896		—		—		—	$	745,896
Net Change in Unrealized Appreciation (Depreciation) on:
Futures contracts			—		—	$	74,240		—		—		—	$	74,240
1    Includes cumulative appreciation (depreciation) on futures contracts, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities.

Average Quarterly Balances of Outstanding Derivative Financial Instruments

Futures contracts:
Average notional value of contracts — long	$	4,875,300

For more information about the Series’ investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 59

Schedule of Investments (concluded) Master Small Cap Index Series

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. For information about the Series’ policy regarding valuation of investments and derivative financial instruments, refer to the Notes to Financial Statements.

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

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments:1
Common Stocks	$	878,170,965	$	201,585		—	$	878,372,550
Investment Companies		3,531,596		—		—		3,531,596
Other Interests		—		—	$	129		129
Rights		—		—		89,331		89,331
Short-Term Securities		21,894,902		—		—		21,894,902
Total	$	903,597,463	$	201,585	$	89,460	$	903,888,508
Derivative Financial Instruments2
Assets:
Equity contracts	$	8,009		—		—	$	8,009
1   See above Schedule of Investments for values in each industry.
2  Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.

During the six months ended June 30, 2017, there were no transfers between levels.

See Notes to Financial Statements.

60 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Statement of Assets and Liabilities Master Small Cap Index Series

June 30, 2017 (Unaudited)
Assets
Investments at value — unaffiliated (including securities loaned at value of $10,960,195) (cost — $711,454,767)	$	877,963,807
Investments at value — affiliated (cost — $25,872,188)		25,924,701
Cash		203,775
Cash pledged for futures contracts		224,000
Receivables:
Contributions from investors		9,574,301
Investments sold		9,443,751
Dividends — unaffiliated		961,560
Securities lending income — affiliated		19,465
Dividends — affiliated		7,512
Prepaid expenses		894
Total assets		924,323,766
Liabilities
Cash collateral on securities loaned at value		11,411,760
Payables:
Investments purchased		5,949,767
Variation margin on futures contracts		6,895
Investment advisory fees		6,499
Other affiliates		5,300
Directors’ fees		4,251
Other accrued expenses		229,973
Total liabilities		17,614,445
Net Assets	$	906,709,321
Net Assets Consist of
Investors’ capital	$	740,139,759
Net unrealized appreciation (depreciation)		166,569,562
Net Assets	$	906,709,321

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	61

Statements of Operations Master Small Cap Index Series

Six Months Ended June 30, 2017 (Unaudited)
Investment Income
Dividends — unaffiliated	$	4,200,293
Securities lending income — affiliated — net		471,624
Dividends — affiliated		61,701
Interest — unaffiliated		370
Foreign taxes withheld		(620	)
Total investment income		4,733,368
Expenses
Accounting services		53,891
Custodian		49,520
Investment advisory		39,054
Professional		32,270
Directors		11,454
Printing		8,733
Miscellaneous		3,535
Total expenses		198,457
Less fees waived by the Manager		(6,760	)
Total expenses after fees waived and/or reimbursed		191,697
Net investment income		4,541,671
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments — unaffiliated		21,848,544
Investments — affiliated		(247,831	)
Futures contracts		745,896
		22,346,609
Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated		11,844,462
Investments — affiliated		133,263
Futures contracts		74,240
		12,051,965
Net realized and unrealized gain		34,398,574
Net Increase in Net Assets Resulting from Operations	$	38,940,245

See Notes to Financial Statements.
62	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017

Statements of Changes in Net Assets Master Small Cap Index Series

Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31, 2016
Operations
Net investment income	$	4,541,671		$	8,078,099
Net realized gain		22,346,609			2,722,256
Net change in unrealized appreciation (depreciation)		12,051,965			108,591,011
Net increase in net assets resulting from operations		38,940,245			119,391,366
Capital Transactions
Proceeds from contributions		414,028,543			368,640,654
Value of withdrawals		(212,949,474	)		(286,783,928	)
Net increase in net assets derived from capital transactions		201,079,069			81,856,726
Net Assets
Total increase in net assets		240,019,314			201,248,092
Beginning of period		666,690,007			465,441,915
End of period	$	906,709,321		$	666,690,007

Financial Highlights

	Six Months Ended June 30, 2017 (Unaudited)			Year Ended December 31,
				2016			2015		2014		2013		2012
Total Return
Total return		4.99%	1		21.49%			(4.33)%		5.05%		39.11%		16.52%
Ratios to Average Net Assets
Total expenses		0.05%	2		0.07%	3		0.08%		0.09%		0.07%		0.14%
Total expenses after fees waived and paid indirectly		0.05%	2		0.06%	3		0.07%		0.08%		0.06%		0.08%
Net investment income		1.16%	2		1.49%	3		1.39%		1.45%		1.46%		2.13%
Supplemental Data
Net assets, end of period (000)	$	906,709		$	666,690		$	465,442	$	700,935	$	859,398	$	581,771
Portfolio turnover rate		21%			39%			37%		21%		22%		68%

¹ Aggregate total return.

² Annualized.

³ Excludes expenses incurred indirectly of 0.01% as a result of the Series’ investments in underlying funds.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2017	63

Notes to Financial Statements (Unaudited) Master Small Cap Index Series

1. Organization:

Master Small Cap Index Series (“Master Small Cap Index” or the “Series”) is 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 classified as diversified. The Series Limited Liability Company Agreement permits the Board of Directors of the Master LLC (the “Board”) to issue non-transferable interests, 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 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, disclosure of contingent assets and liabilities at the date of 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. The Series is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are entered into (the “trade dates”). 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.

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

The Series does not isolate the portion of the results of operations arising as a result of changes in the exchange rates from the changes in the market prices of investments held or sold for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statement 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 reports 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 U.S. federal income tax purposes.

Segregation and Collateralization: In cases where the Series enters into certain investments (e.g., futures contracts) that would be treated as “senior securities” for 1940 Act purposes, the Series may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its 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.

SEC Reporting Modernization: The U.S. Securities and Exchange Commission (“SEC”) adopted new rules and forms and amended other rules to enhance the reporting and disclosure of information by registered investment companies. As part of these changes, the SEC amended Regulation S-X to standardize and enhance disclosures in investment company financial statements. The compliance date for implementing the new or amended rules is August 1, 2017.

Indemnifications: In the normal course of business, the Series enters into contracts that contain a variety of representations that provide general indemnification. The Series’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Series, which cannot be predicted with any certainty.

Other: Expenses directly related to the Series are charged to the Series. Other operating expenses shared by several funds, including other funds managed by the Manager, are prorated among those funds on the basis of relative net assets or other appropriate methods.

Through May 31, 2016, the Series had an arrangement with its custodian whereby credits were earned on uninvested cash balances, which could be used to reduce custody fees and/or overdraft charges. Credits previously earned have been utilized until December 31, 2016. Under current arrangements effective June 1, 2016, the Series no longer earns credits on uninvested cash, and may incur charges on uninvested cash balances and overdrafts, subject to certain conditions.

3. Investment Valuation and Fair Value Measurements:

Investment Valuation Policies: The Series’ investments are valued at fair value (also referred to as “market value” within the financial statements) as of the close of trading on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m., Eastern time). U.S. GAAP defines fair value as the price the Series would

64 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Notes to Financial Statements (continued) Master Small Cap Index Series

receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Series determines the fair values of its financial instruments using various 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 oversee the pricing function for all financial instruments.

Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of the Series’ assets and liabilities:

• Equity investments traded on a recognized securities exchange are valued at the official closing price each day, if available. For equity investments traded on more than one exchange, the official closing 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 may be valued at the last available bid (long positions) or ask (short positions) price.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the NYSE. Occasionally, events affecting the values of such instruments may occur between the foreign market close and the close of trading on the NYSE that may not be reflected in the computation of the Series’ net assets. Each business day, the Series uses 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 trading on the NYSE, which follows the close of the local markets.

• Investments in open-end U.S. mutual funds are valued at net asset value (“NAV”) each business day.

• The Series values its investment in SL 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 may follow the parameters of investments by a money market fund that is subject to Rule 2a-7 under the 1940 Act.

• Futures contracts traded on exchanges are valued at their last sale price.

If events (e.g., a company announcement, market volatility or a natural disaster) occur that are expected to materially affect the value of such investments, or 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 Valued Investments”). The fair valuation approaches that may be used by the Global Valuation Committee include Market approach, Income approach and Cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and typically used in determining fair value. When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that the Series might reasonably expect to receive or pay from the current sale or purchase of that asset or liability 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 and consistent with the principles of fair value measurement.

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 Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis. As a result of the inherent uncertainty in valuation of these investments, the fair values may differ from the values that would have been used had an active market existed.

For investments in equity or debt issued by privately-held companies or funds (“Private Company” or collectively, the “Private Companies”) and other Fair Valued Investments, the fair valuation approaches that are used by third party pricing services utilize one or a combination of, but not limited to, the following inputs.

	Standard Inputs Generally Considered By Third Party Pricing Services
Market approach	(i)      recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii)     recapitalizations and other transactions across the capital structure; and (iii)    market multiples of comparable issuers.
Income approach	(i)      future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks; (ii)     quoted prices for similar investments or assets in active markets; and (iii)    other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates.
Cost approach	(i)      audited or unaudited financial statements, investor communications and financial or operational metrics issued by the Private Company; (ii)     changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii)    relevant news and other public sources; and (iv)    known secondary market transactions in the Private Company’s interests and merger or acquisition activity in companies comparable to the Private Company.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 65

Notes to Financial Statements (continued) Master Small Cap Index Series

Investments in series of preferred stock issued by Private Companies are typically valued utilizing Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”) or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.

The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by the Series. Typically, the most recently available information by a Private Company is as of a date that is earlier than the date the Series is calculating its NAV. This factor may result in a difference between the value of the investment and the price the Series could receive upon the sale of the investment.

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

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

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

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the 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. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by Private Companies. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Series’ policy, transfers between different levels of the fair value 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 investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities.

4. Securities and Other Investments:

Securities Lending: The Series may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Series 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 collateral received by the Series is required to have a value of 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, or excess collateral returned by the Series, on the next business day. During the term of the loan, the Series is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

The market value of any securities on loan, all of which were classified as common stocks in the Series’ Schedule of Investments, and the value of any related collateral are shown separately in the Statement of Assets and Liabilities as a component of investments at value-unaffiliated, and collateral on securities loaned at value, respectively. As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested by the securities lending agent, BlackRock Institutional Trust Company, N.A. (“BTC”), if any, is disclosed in the Schedule 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

66 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Notes to Financial Statements (continued) Master Small Cap Index Series

restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Series can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the Series’ securities lending agreements by counterparty which are subject to offset under an MSLA:

Counterparty	Securities Loaned at Value		Cash Collateral Received1			Net Amount
Citigroup Global Markets, Inc.	$	7,410,378	$	(7,410,378	)	—
Merrill Lynch, Pierce, Fenner & Smith, Inc.		3,549,817		(3,549,817	)	—
Total	$	10,960,195	$	(10,960,195	)	—

¹  Cash collateral with a value of $11,411,760 has been received in connection with securities lending agreements. Collateral received in excess of the value of securities loaned 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 benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned if the collateral received does not cover the value on the securities loaned in the event of borrower default. The Series could incur 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.

5. Derivative Financial Instruments:

The Series engages in various portfolio investment strategies using derivative contracts both to increase the returns of the Series and/or to manage its exposure to certain risks such as credit risk, equity risk, interest rate risk, foreign currency exchange rate risk, commodity price risk or other risks (e.g., inflation risk). Derivative financial instruments categorized by risk exposure are included in the Schedule of Investments. These contracts may be transacted on an exchange or OTC.

Futures Contracts: Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk), changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

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 on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a 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 in the Schedule of Investments and cash deposited, if any, is shown as cash pledged for futures contracts in the Statement of Assets and Liabilities. Pursuant to the contract, the Series agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statement of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statement of Operations 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 futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest, foreign currency exchange rates or underlying assets.

6. Investment Advisory Agreement and Other Transactions with Affiliates:

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

Investment Advisory: The Master LLC, on behalf of the Series, entered into an Investment Advisory Agreement with the Manager, the Series’ investment adviser, an indirect, wholly-owned subsidiary of BlackRock, to provide investment advisory and administration services. The Manager is responsible for the management of the Series’ portfolio and provides the personnel, facilities, equipment and certain other services necessary to the operations of the Series.

With respect to the Series, the Manager entered into a separate sub-advisory agreement with BlackRock Fund Advisors (“BFA”), an affiliate of the Manager. The Manager pays BFA, for services it provides, a monthly fee that is a percentage of the investment advisory fees paid by the Series to the Manager.

For such services, the Series pays the Manager a monthly fee at an annual rate equal to 0.01% of the average daily value of the Series’ net assets.

Expense Limitations, Waivers, Reimbursements, and Recoupments: 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 (the “affiliated money market

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 67

Notes to Financial Statements (continued) Master Small Cap Index Series

fund waiver”). This amount is included in fees waived by the Manager in the Statement of Operations. The amount of waivers and/or reimbursements of fees and expenses made pursuant to the expense limitation caps, as applicable, will be reduced by the amount of the affiliated money market fund waiver. For the six months ended June 30, 2017, the amount waived was $6,615.

The Manager voluntarily agreed to waive its investment advisory fee with respect to any portion of the Series’ assets invested in affiliated equity and fixed-income mutual funds and affiliated exchange-traded funds that have a contractual management fee. Effective April 28, 2017, the waiver became contractual through April 30, 2018. The contractual agreement may be terminated upon 90 days’ notice by a majority of the non-interested directors of the Series or by a vote of a majority of the outstanding voting securities of the Series. This amount is included in fees waived by the Manager in the Statement of Operations. For the six months ended June 30, 2017, there were $145 fees waived by the Manager.

For the six months ended June 30, 2017, the Series reimbursed the Manager for certain accounting services, which is included in accounting services in the Statement of Operations. The reimbursement was $2,856.

With respect to the Series, the Manager contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, tax 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 (“expense limitation”). The expense limitation as a percentage of average daily net assets is 0.07%.

The Manager has agreed not to reduce or discontinue this contractual expense limitation prior to May 1, 2018, unless approved by the Board, including a majority of the independent directors who are not “interested persons” of the Series, as defined in the 1940 Act (“Independent Directors”) or by a vote of a majority of the outstanding voting securities of the Series.

Securities Lending: The SEC has issued an exemptive order which permits BTC, an affiliate of the Manager, to serve as securities lending agent for the Series, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. The Series is 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, BTC has agreed to cap the collateral investment expenses of the private investment company to an annual rate of 0.04%. The investment adviser to the private investment company will not charge any advisory fees with respect to shares purchased by the Series. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% on the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

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. The Series retains a portion of securities lending income and remits a remaining portion to BTC as compensation for its services as securities lending agent. Pursuant to a securities lending agreement, BTC 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, the Series retains 80% of securities lending income. In addition, commencing the business day following the date that the aggregate securities lending income earned across certain funds in the Equity-Liquidity Complex in a calendar year exceeds a specified threshold, the 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 June 12, 2017, BlackRock Investment Management, LLC (“BIM”) was the Series’ securities lending agent.

The share of securities lending income earned by the Series is shown as securities lending income — affiliated — net in the Statement of Operations. For the six months ended June 30, 2017, the Series paid BIM $113,280 and BTC $7,376 for securities lending agent services.

Interfund Lending: In accordance with an exemptive order (the “Order”) from the SEC, the Series may participate in a joint lending and borrowing facility for temporary purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the Series’ investment policies and restrictions. The Series is currently permitted to borrow and lend under the Interfund Lending Program.

A lending BlackRock fund may lend in aggregate up to 15% of its net assets, but may not lend more than 5% of its net assets, to any one borrowing fund through the Interfund Lending Program. A borrowing BlackRock fund may not borrow through the Interfund Lending Program or from any other source more than 33 1/3% of its total assets (or any lower threshold provided for by the fund’s investment restrictions). If a borrowing BlackRock fund’s total outstanding borrowings exceed 10% of its total assets, each of its outstanding interfund loans will be subject to collateralization of at least 102% of the outstanding principal value of the loan. All interfund loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the highest current overnight repurchase agreement rate available to a lending fund and the bank loan rate, as calculated according to a formula established by the Board.

During the period ended June 30, 2017, the Series did not participate in the Interfund Lending Program.

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

68 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Notes to Financial Statements (continued) Master Small Cap Index Series

Other Transactions: 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 directors. For the six months ended June 30, 2017, the purchase and sale transactions and any net realized gains (losses) with an affiliated fund in compliance with Rule 17a-7 under the 1940 Act were as follows:

Purchases	Sales		Net Realized Gain (Loss)
$19,340,437	$	31,959,749	$	9,080,191

7. Purchases and Sales:

For the six months ended June 30, 2017, purchases and sales of investments, excluding short-term securities were $363,175,049 and $159,004,803, respectively.

8. Income Tax Information:

The Series is classified as a partnership for U.S. 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 U.S. 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 files 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 generally remains open for each of the four years ended December 31, 2016. 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 as of June 30, 2017, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Series’ financial statements.

As of June 30, 2017, gross unrealized appreciation and depreciation based on cost for U.S. federal income tax purposes were as follows:

Tax cost	$	741,936,824
Gross unrealized appreciation	$	194,677,628
Gross unrealized depreciation		(32,725,944	)
Net unrealized appreciation	$	161,951,684

9. Bank Borrowings:

The Master LLC, on behalf of the Series, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $2.1 billion credit agreement with a group of lenders. Under this agreement, the Series may borrow to fund shareholder redemptions. Excluding commitments designated for certain individual funds, the Participating Funds, including the Series, can borrow up to an aggregate commitment amount of $1.6 billion at any time outstanding, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.12% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) one-month LIBOR (but, in any event, not less than 0.00%) on the date the loan is made plus 0.80% per annum or (b) the Fed funds rate (but, in any event, not less than 0.00%) in effect from time to time plus 0.80% per annum on amounts borrowed. The agreement expires in April 2018 unless extended or renewed. Participating Funds paid administration, legal and arrangement fees, which, if applicable, are included in miscellaneous expenses in the Statement of Operations. These fees were allocated among such funds based upon portions of the aggregate commitment available to them and relative net assets of Participating Funds. During the six months ended June 30, 2017, the Series did not borrow under the credit agreement.

10. Principal Risks:

In the normal course of business, the Series invests in securities and enters into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer to meet all its obligations, including the ability to pay principal and interest when due (issuer credit risk). The value of securities held by the Series may decline in response to certain events, including those directly involving the issuers of securities owned by the Series. Changes arising from the general economy, the overall market and local, regional or global political and/or social instability, as well as currency, interest rate and price fluctuations, may also affect the securities’ value.

On October 11, 2016, BlackRock implemented certain changes required by amendments to Rule 2a-7 under the 1940 Act, which governs the operations of U.S. money market funds. The Series may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00 and which may be subject to redemption gates or liquidity fees under certain circumstances.

Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. The Series may invest in illiquid investments and may experience difficulty in selling those investments in a timely

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 69

Notes to Financial Statements (concluded) Master Small Cap Index Series

manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause the Series’ NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of the Series may lose value, regardless of the individual results of the securities and other instruments in which the Series invests.

The price the Series could receive upon the sale of any particular portfolio investment may differ from the Series’ valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore the Series’ results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by the Series, and the Series could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. The Series’ ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third party service providers.

Counterparty Credit Risk: Similar to issuer credit risk, the Series may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions. The Series manages counterparty credit risk by entering into transactions only with counterparties that the Manager believes 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 approximately their value recorded in the Statement of Assets and Liabilities, less any collateral held by the Series.

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.

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, the 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). 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.

As of period end, the Series’ investments had the following industry classifications:

Industry	Percent of Net Assets
Banks		10	%
Equity Real Estate Investment Trusts (REITs)		7
Biotechnology		5
Other1		78

¹ All other industries held was less than 5% of net assets.

11. 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.

70 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Disclosure of Investment Advisory Agreements

The Board of Directors of Quantitative Master Series LLC (the “Master LLC”) met in person on April 20, 2017 (the “April Meeting”) and May 24-25, 2017 (the “May Meeting”) to consider the approval of the investment advisory agreement (the “Master LLC Agreement”) between the Master LLC, on behalf of Master Small Cap Index Series (the “Master Portfolio”), a series of the Master LLC, and BlackRock Advisors, LLC (the “Manager” or “BlackRock”), the Master LLC’s investment advisor. iShares Russell 2000 Small-Cap Index Fund (“Small-Cap Index Fund”), a series of BlackRock Index Funds, Inc. (the “Corporation”), is a “feeder” fund that invests all of its investable assets in the Master Portfolio. Accordingly, the Board of Directors of the Corporation also considered the approval of the Master LLC Agreement.

The Board of Directors of the Corporation also met in person at the April Meeting and the May Meeting to consider the approval of the investment advisory agreement (the “Corporation Agreement”) between the Corporation, on behalf of iShares MSCI EAFE International Index Fund (“International Index Fund”), a series of the Corporation, and the Manager, the Corporation’s investment advisor.

The Master Portfolio, Small-Cap Index Fund and International Index Fund are referred to herein, as pertinent, individually as a “Fund” or collectively as the “Funds.” The Master LLC Agreement and the Corporation Agreement are referred to herein as the “Agreements.” For simplicity: (a) the Board of Directors of the Master LLC and the Board of Directors of the Corporation are referred to herein individually as the “Board” and collectively as the “Boards,” and the members are referred to as “Board Members;” and (b) the shareholders of each of Small-Cap Index Fund and International Index Fund and the interest holders of the Master Portfolio are referred to as “shareholders.”

Activities and Composition of the Boards

On the date of the May Meeting, each Board consisted of thirteen individuals, eleven of whom were 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 Chair of each Board is an Independent Board Member. Each 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 Agreements

Pursuant to the 1940 Act, each Board is required to consider the continuation of the pertinent Agreement on an annual basis. The Boards have four quarterly meetings per year, each extending over two days, a fifth one-day meeting to consider specific information surrounding the consideration of renewing the pertinent Agreement, and additional in-person and telephonic meetings as needed. In connection with this year-long deliberative process, the Boards assessed, among other things, the nature, extent and quality of the services provided to the Funds by BlackRock, BlackRock’s personnel and affiliates, including (as applicable) investment management; administrative and shareholder services; the oversight of fund service providers; marketing; risk oversight; compliance; and ability to meet applicable legal and regulatory requirements.

The Boards, acting directly and through their committees, consider at each of their meetings, and from time to time as appropriate, factors that are relevant to their annual consideration of the renewal of the Agreements, including the services and support provided by BlackRock to the Funds and their shareholders. BlackRock also furnished additional information to the Boards in response to specific questions from the Boards. This additional information is discussed further below in the section titled “Board Considerations in Approving the Agreements.” Among the matters the Boards considered, with respect to each Fund, as pertinent, were: (a) investment performance for one-year, three-year, five-year, ten-year and/or since inception periods, as applicable, against peer funds, applicable benchmark, and performance metrics, as applicable, as well as senior management’s and portfolio managers’ analysis of the reasons for any over-performance or underperformance relative to its peers, benchmarks, and other performance metrics, as applicable; (b) fees, including advisory, administration, if applicable, and other amounts paid to BlackRock and its affiliates by the Fund for services; (c) the Fund’s operating expenses and how BlackRock allocates expenses to the Fund; (d) the resources devoted to, risk oversight of, and compliance reports relating to, implementation of the Fund’s investment objective(s), policies and restrictions, and meeting regulatory requirements; (e) the Master LLC’s and/or the Corporation’s adherence to its respective 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 pertinent 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 mandates across the open-end fund, exchange-traded fund (“ETF”), closed-end fund, sub-advised mutual fund, separately managed account, collective investment trust, and institutional account product channels, as applicable, and the similarities and differences between these products and the services provided as compared to the Fund; (l) BlackRock’s compensation methodology for its investment professionals and the incentives and accountability it creates, along with investment professionals’ investments in the fund(s) they manage; and (m) periodic updates on BlackRock’s business.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 71

Disclosure of Investment Advisory Agreements (continued)

Board Considerations in Approving the Agreements

The Approval Process: Prior to the April Meeting, the Boards requested and received materials specifically relating to the Agreements. The Boards are continuously engaged in a process with their independent legal counsel and BlackRock to review the nature and scope of the information provided to better assist their deliberations. The materials provided in connection with the April Meeting included (a) information independently compiled and prepared by Broadridge Financial Solutions, Inc. (“Broadridge”) on fees and expenses of each Fund, as applicable, as compared with a peer group of funds as determined by Broadridge (“Expense Peers”) and the investment performance of each of Small-Cap Index Fund and International Index Fund as compared with a peer group of funds as determined by Broadridge¹, as well as the performance of each of these Funds as compared with its benchmark; (b) information on the profits realized by BlackRock and its affiliates pursuant to the Agreements 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, sub-advised mutual funds, ETFs, closed-end funds, and separately managed accounts, 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 Fund to BlackRock; and (g) sales and redemption data regarding the shares of Small-Cap Index Fund and International Index Fund, as applicable.

At the April Meeting, each Board reviewed materials relating to its consideration of the pertinent Agreement. As a result of the discussions that occurred during the April Meeting, and as a culmination of each Board’s year-long deliberative process, the Boards 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 the Independent Board Members, approved the continuation of the Master LLC Agreement between the Manager and the Master LLC with respect to the Master Portfolio for a one-year term ending June 30, 2018. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Master LLC Agreement with respect to the Master Portfolio and found the Master LLC Agreement to be satisfactory. At the May Meeting, the Board of the Corporation, including the Independent Board Members, also approved the continuation of the Corporation Agreement between the Manager and the Corporation with respect to International Index Fund for a one-year term ending June 30, 2018. In approving the continuation of the pertinent Agreement, each Board considered, with respect to the applicable Fund: (a) the nature, extent and quality of the services provided by BlackRock; (b) the investment performance of the Fund; (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 Fund; (d) the costs of Small-Cap Index Fund and International Index Fund, as applicable, to investors compared to the costs of the relevant Expense Peers and performance compared to the relevant performance metrics as previously discussed; (e) the sharing of potential economies of scale; (f) fall-out benefits to BlackRock and its affiliates as a result of its relationship with the Fund; and (g) other factors deemed relevant by the Board Members.

Each Board also considered other matters it deemed important to the approval process, such as other payments made to BlackRock or its affiliates, securities lending and cash management, services related to the valuation and pricing of portfolio holdings of the applicable Fund, and advice from independent legal counsel with respect to the review process and materials submitted for the Board’s review. Each Board noted the willingness of BlackRock personnel to engage in open, candid discussions with the Board. The Boards 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: Each 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 the applicable Fund. Throughout the year, each Board compared Fund performance to the performance of a comparable group of mutual funds, relevant benchmark, and performance metrics, as applicable. The Boards met with BlackRock’s senior management personnel responsible for investment activities, including the senior investment officers. Each Board also reviewed the materials provided by the applicable Fund’s portfolio management team discussing the Fund’s performance and the Fund’s investment objective(s), strategies and outlook.

Each Board considered, among other factors, with respect to BlackRock: the number, education and experience of investment personnel generally and the applicable Fund’s portfolio management team; BlackRock’s research capabilities; 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. Each Board engaged in a review of BlackRock’s compensation structure with respect to the applicable Fund’s portfolio management team and BlackRock’s ability to attract and retain high-quality talent and create performance incentives.

In addition to investment advisory services, the Boards considered the quality of the administrative and other non-investment advisory services provided to the Funds. BlackRock and its affiliates provide the Funds with certain administrative, shareholder and other services (in addition to any such services provided to the Funds by third parties) and officers and other personnel as are necessary for the operations of the Funds. In particular, BlackRock and its affiliates provide the Funds with 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;

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

72 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Disclosure of Investment Advisory Agreements (continued)

(iii) preparing periodic filings with regulators; (iv) overseeing and coordinating the activities of other service providers; (v) organizing Board meetings and preparing the materials for such Board meetings; (vi) providing legal and compliance support; (vii) furnishing analytical and other support to assist the Boards in their consideration of strategic issues such as the merger, consolidation or repurposing of certain open-end funds; and (viii) performing other administrative functions necessary for the operation of the Funds, such as tax reporting, fulfilling regulatory filing requirements and call center services. The Boards reviewed the structure and duties of BlackRock’s fund administration, shareholder services, and legal & compliance departments and considered BlackRock’s policies and procedures for assuring compliance with applicable laws and regulations.

B. The Investment Performance of the Funds and BlackRock: The Boards, including the Independent Board Members, also reviewed and considered the performance history of the Master Portfolio/Small-Cap Index Fund and International Index Fund, as applicable. The Boards noted that Small-Cap Index Fund’s investment results correspond directly to the investment results of the Master Portfolio. In preparation for the April Meeting, the Boards were provided with reports independently prepared by Broadridge, which included a comprehensive analysis of the performance of Small-Cap Index Fund and International Index Fund, as applicable. The Boards also reviewed a narrative and statistical analysis of the Broadridge data that was prepared by BlackRock. In connection with their review, the Boards received and reviewed information regarding the investment performance of Small-Cap Index Fund and International Index Fund as compared to other funds in the Fund’s applicable Broadridge category and the performance of each of these Funds as compared with its benchmark. The Boards were provided with a description of the methodology used by Broadridge to select peer funds and periodically meet with Broadridge representatives to review its methodology. Each Board was provided with information on the composition of the Broadridge performance universes and expense universes. Each Board and its Performance Oversight and Contract Committee regularly review, and meet with Fund management to discuss, the performance of the pertinent Fund, throughout the year.

In evaluating performance, the Boards recognized that the performance data reflects a snapshot of a period as of a particular date and that selecting a different performance period could produce significantly different results. Further, the Boards recognized that it is possible that long-term performance can be adversely affected by even one period of significant underperformance so that a single investment decision or theme has the ability to affect long-term performance disproportionately.

The Boards noted that for the past five one-year periods reported, Small-Cap Index Fund’s net performance was within the tolerance range of its benchmark for four of the five periods. BlackRock believes that net performance relative to the benchmark is an appropriate performance metric for the Fund.

The Board of the Corporation noted that for the past five one-year periods reported, International Index Fund’s net performance was within the tolerance range of its benchmark for three of the five periods. BlackRock believes that net performance relative to the benchmark is an appropriate performance metric for the 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 Funds: The Boards, including the Independent Board Members, reviewed, as pertinent, the contractual management fee rate of the Master Portfolio/Small-Cap Index Fund and International Index Fund compared with the other funds in the applicable Fund’s Broadridge 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 Boards also compared, as pertinent, the total expense ratio of Small-Cap Index Fund and International Index Fund, as well as the actual management fee rate of the Master Portfolio/Small-Cap Index Fund and International Index Fund, to those of other funds in the applicable Fund’s Broadridge 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 Boards 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 and sub-advised mutual funds (including mutual funds sponsored by third parties).

The Boards received and reviewed statements relating to BlackRock’s financial condition. Each Board reviewed BlackRock’s profitability methodology and was also provided with a profitability analysis that detailed the revenues earned and the expenses incurred by BlackRock for services provided to the Funds. The Boards reviewed BlackRock’s profitability with respect to the Funds and other funds the Boards currently oversee for the year ended December 31, 2016 compared to available aggregate profitability data provided for the prior two years. The Boards reviewed BlackRock’s profitability with respect to certain other U.S. fund complexes managed by the Manager and/or its affiliates. The Boards 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 Boards 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 Boards noted that, in general, individual fund or product line profitability of other advisors is not publicly available. The Boards reviewed BlackRock’s overall operating margin, in general, compared to that of certain other publicly-traded asset management firms. The Boards 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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 73

Disclosure of Investment Advisory Agreements (concluded)

In addition, each Board considered the cost of the services provided to the applicable Fund by BlackRock, and BlackRock’s and its affiliates’ profits relating to the management and distribution of the applicable Fund and the other funds advised by BlackRock and its affiliates. As part of its analysis, each Board reviewed BlackRock’s methodology in allocating its costs of managing each Fund, to the applicable Fund. The Boards may receive and review information from independent third parties as part of their annual evaluation. Each Board considered whether BlackRock has the financial resources necessary to attract and retain high quality investment management personnel to perform its obligations under the pertinent Agreement and to continue to provide the high quality of services that is expected by that Board. The Boards further considered factors including but not limited to BlackRock’s commitment of time, assumption of risk and liability profile in servicing the Funds in contrast to what is required of BlackRock with respect to other products with similar investment mandates across the open-end fund, ETF, closed-end fund, sub-advised mutual fund, separately managed account, collective investment trust, and institutional separate account product channels, as applicable.

The Boards noted that the Master Portfolio’s/Small-Cap Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and the Small-Cap Index Fund’s total expense ratio each ranked in the first quartile, relative to Small-Cap Index Fund’s Expense Peers. The Boards also noted that BlackRock has contractually agreed to a cap on the Master Portfolio’s total expenses as a percentage of the Master Portfolio’s average daily net assets and has contractually agreed to a cap on 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 Boards noted that BlackRock proposed, and the Boards agreed to, a lower contractual expense cap on Small-Cap Index Fund on a class-by-class basis. This expense cap reduction was implemented on October 5, 2016.

The Board of the Corporation noted that International Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and total expense ratio ranked in the first and second quartiles, respectively, relative to International Index Fund’s Expense Peers. The Board also noted that BlackRock has contractually agreed to a cap on International Index Fund’s total expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis.

D. Economies of Scale: Each Board, including the Independent Board Members, considered the extent to which economies of scale might be realized as the assets of the applicable Fund increase, as well as the existence of expense caps, as applicable. Each Board also considered the extent to which the applicable Fund benefits from such economies in a variety of ways and whether there should be changes in the advisory fee rate or breakpoint structure in order to enable the Fund to more fully participate in these economies of scale. Each Board considered the applicable Fund’s asset levels and whether the current fee schedule was appropriate. 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: Each 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 applicable Fund, 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 Fund, including for administrative, distribution, securities lending and cash management services. The Boards also considered BlackRock’s overall operations and its efforts to expand the scale of, and improve the quality of, its operations. The Boards 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.

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

The Boards 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 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 the Independent Board Members, approved the continuation of the Master LLC Agreement between the Manager and the Master LLC, with respect to the Master Portfolio, for a one-year term ending June 30, 2018. The Board of the Corporation, including the Independent Board Members, approved the continuation of the Corporation Agreement between the Manager and the Corporation, with respect to International Index Fund, for a one-year term ending June 30, 2018.

Based upon its evaluation of all of the aforementioned factors in their totality, as well as other information, each of the Board of the Master LLC and the Board of the Corporation, including the Independent Board Members, was satisfied that the terms of the pertinent Agreement were fair and reasonable and in the best interest of the applicable Fund and its shareholders. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Master LLC Agreement with respect to the Master Portfolio and found the Master LLC Agreement to be satisfactory. In arriving at its decision to approve the applicable Agreement, the Board of the Master LLC and the Board of the Corporation 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 LLC and the Corporation reflect the results of several years of review by the respective 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.

74 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Disclosure of Sub-Advisory Agreement

The Board of Directors (the “Board,” the members of which are referred to as “Board Members”) of BlackRock Index Funds, Inc. (the “Corporation”) met in person on November 16-18, 2016 (the “November 2016 Meeting”) to consider the initial approval of the proposed sub-advisory agreement (the “Sub-Advisory Agreement”) between BlackRock Advisors, LLC (the “Manager”), the Corporation’s investment advisor, and BlackRock Fund Advisors (the “Sub-Advisor”) with respect to iShares MSCI EAFE International Index Fund (the “Fund”), a series of the Corporation. The Board was informed that the Sub-Advisory Agreement was substantially the same as sub-advisory agreements previously approved with respect to certain other funds advised by the Manager.

On the date of the November 2016 Meeting, the Board consisted of fifteen individuals, thirteen of whom were not “interested persons” of the Corporation as defined in the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Board Members”). Pursuant to the 1940 Act, the Board is required to consider the initial approval of the Sub-Advisory Agreement.

The Board previously met in person on May 18-20, 2016 (the “May 2016 Meeting”) to consider the initial approval of the investment advisory agreement between the Corporation, on behalf of the Fund, and the Manager (the “Advisory Agreement”). At the May 2016 Meeting, the Board, including the Independent Board Members, approved the Advisory Agreement for a two-year term beginning on the effective date of the Advisory Agreement. A discussion of the basis for the Board’s approval of the Advisory Agreement at the May 2016 Meeting is included in the annual shareholder report of the Fund for the period ended December 31, 2016.

At the November 2016 Meeting, the Board reviewed materials relating to its consideration of the Sub-Advisory Agreement. The factors considered by the Board at the November 2016 Meeting in connection with approval of the proposed Sub-Advisory Agreement were substantially the same as the factors considered at the May 2016 Meeting with respect to approval of the Advisory Agreement. Following discussion, all the Board Members present at the November 2016 Meeting, including all the Independent Board Members present at the Meeting, approved the Sub-Advisory Agreement between the Manager and the Sub-Advisor with respect to the Fund for a two-year term beginning on the effective date of the Sub-Advisory Agreement. Based upon its evaluation of all of the aforementioned factors in their totality, the Board, including a majority of the Independent Board Members, was satisfied that the terms of the Sub-Advisory Agreement were fair and reasonable and in the best interest of the Fund and its shareholders. In arriving at its decision to approve the Sub-Advisory Agreement, the Board 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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 75

Disclosure of Sub-Advisory Agreement

The Board of Directors of Quantitative Master Series LLC (the “Master LLC”) met in person on November 16-18, 2016 (the “November 2016 Meeting”) to consider the initial approval of the proposed sub-advisory agreement (the “Sub-Advisory Agreement”) between BlackRock Advisors, LLC (the “Manager”), the Master LLC’s investment advisor, and BlackRock Fund Advisors (the “Sub-Advisor”) with respect to Master Small Cap Index Series (the “Master Portfolio”), a series of the Master LLC. iShares Russell 2000 Small-Cap Index Fund (the “Fund”), a series of BlackRock Index Funds, Inc. (the “Corporation”), is a “feeder” fund that invests all of its investable assets in the Master Portfolio. Accordingly, the Board of Directors of the Corporation also considered the approval of the Sub-Advisory Agreement. For simplicity, 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.” The Board was informed that the Sub-Advisory Agreement was substantially the same as sub-advisory agreements previously approved with respect to certain other funds advised by the Manager.

On the date of the November 2016 Meeting, the Board consisted of fifteen individuals, thirteen of whom were 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”). Pursuant to the 1940 Act, the Board is required to consider the initial approval of the Sub-Advisory Agreement.

The Board of the Master LLC previously met in person on April 21, 2016 (the “April 2016 Meeting”) and on May 18-20, 2016 (the “May 2016 Meeting”) to consider the approval of the investment advisory agreement between the Master LLC, on behalf of the Master Portfolio, and the Manager (the “Advisory Agreement”). The Board of the Corporation also considered the approval of the Advisory Agreement. At the May 2016 Meeting, the Board of the Master LLC, including the Independent Board Members, approved the continuation of the Advisory Agreement for a one-year term ending June 30, 2017. A discussion of the basis for the Board of the Master LLC’s approval of the Advisory Agreement at the May 2016 Meeting is included in the semi-annual shareholder report of the Fund for the period ended June 30, 2016.

At the November 2016 Meeting, the Board reviewed materials relating to its consideration of the Sub-Advisory Agreement. The factors considered by the Board at the November 2016 Meeting in connection with approval of the proposed Sub-Advisory Agreement were substantially the same as the factors considered at the April 2016 Meeting and the May 2016 Meeting with respect to approval of the Advisory Agreement.

Following discussion, all the Board Members of the Master LLC present at the November 2016 Meeting, including all the Independent Board Members present at the November 2016 Meeting, approved the Sub-Advisory Agreement between the Manager and the Sub-Advisor with respect to the Master Portfolio for a two-year term beginning on the effective date of the Sub-Advisory Agreement. Based upon its evaluation of all of the aforementioned factors in their totality, the Board of the Master LLC, including a majority of the Independent Board Members, was satisfied that the terms of the Sub-Advisory Agreement were fair and reasonable and in the best interest of the Master Portfolio and its interest holders. The Board of the Corporation, including the Independent Board Members, also considered the approval of the Sub-Advisory Agreement and found the Sub-Advisory Agreement to be satisfactory. In arriving at its decision to approve the Sub-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.

76 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Officers and Directors

Rodney D. Johnson, Chair of the Board and Director

Susan J. Carter, Director

Collette Chilton, Director

Neil A. Cotty, Director

Cynthia A. Montgomery, Director

Joseph P. Platt, Director

Robert C. Robb, Jr., Director

Mark Stalnecker, Director

Kenneth L. Urish, Director

Claire A. Walton, Director

Frederick W. Winter, Director

Barbara G. Novick, Director

John M. Perlowski, Director, President and Chief Executive Officer

Thomas Callahan, Vice President

Jennifer McGovern, Vice President

Neal J. Andrews, Chief Financial Officer

Jay M. Fife, Treasurer

Charles Park, Chief Compliance Officer

Fernanda Piedra, Anti-Money Laundering Compliance Officer

Benjamin Archibald, Secretary

Investment Adviser and Administrator1 BlackRock Advisors, LLC Wilmington, DE 19809	Accounting Agent and Custodian State Street Bank and Trust Company Boston, MA 02111	Independent Registered Public Accounting Firm Deloitte & Touche LLP Boston, MA 02116	Distributor BlackRock Investments, LLC New York, NY 10022	Address of the Funds 100 Bellevue Parkway Wilmington, DE 19809
Sub-Advisor BlackRock Fund Advisors  San Francisco, CA 94105	Transfer Agent BNY Mellon Investment Servicing (US) Inc. Wilmington, DE 19809		Legal Counsel Sidley Austin LLP New York, NY 10019

¹  iShares Russell 2000 Small-Cap Index Fund.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 77

Additional Information

General Information

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, D.C. Information on the operation of the Public Reference Room or 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 upon request and without charge (1) 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’s 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. Visit http://www.blackrock.com for more information.

Shareholder Privileges

Account Information

Call us at (800) 441-7762 from 8:00 AM to 6:00 PM ET 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.

78 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017

Additional Information (concluded)

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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2017 79

This report is intended for current holders. 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 the 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.

Index2-6/17-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:	September 5, 2017

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:	September 5, 2017

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:	September 5, 2017

3