Blackrock Index Funds NCSRS Certified semi-annual shareholder report (management investment company)

Blackrock Index Funds N-CSRSCertified 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.

BlackRock International Index Fund

BlackRock Small Cap Index Fund

Quantitative Master Series LLC

Master International Index Series

Master Small Cap Index Series

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

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

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

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

Date of fiscal year end: 12/31/2013

Date of reporting period: 06/30/2013

Item 1

– Report to Stockholders

JUNE 30, 2013

SEMI-ANNUAL REPORT (UNAUDITED)

BlackRock Index Funds, Inc.

^Ø	BlackRock International Index Fund

^Ø	BlackRock Small Cap Index Fund

Not FDIC Insured • May Lose Value • No Bank Guarantee


Table of Contents


	Page
Dear Shareholder		3
Semi-Annual Report:
Fund Summary		4
About Fund Performance		8
Disclosure of Expenses		8
Derivative Financial Instruments		8
Fund Financial Statements:
Statements of Assets and Liabilities		9
Statements of Operations		10
Statements of Changes in Net Assets		11
Fund Financial Highlights		12
Fund Notes to Financial Statements		18
Series Portfolio Information		21
Series Financial Statements:
Schedules of Investments		22
Statements of Assets and Liabilities		52
Statements of Operations		53
Statements of Changes in Net Assets		54
Series Financial Highlights		55
Series Notes to Financial Statements		56
Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements		63
Officers and Directors		67
Additional Information		68
A World-Class Mutual Fund Family		70



2	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Dear Shareholder

One year ago, risk assets (such as equities) were on the rise as weakening global economic data spurred increasing optimism that the world’s largest central banks would intervene to stimulate growth. This theme, along with the European Central Bank’s (“ECB’s”) firm commitment to preserve the euro currency bloc, drove most asset classes higher through the summer of 2012. The much-anticipated monetary stimulus ultimately came in September when the ECB and the US Federal Reserve announced their plans for increasing global liquidity.

Although financial markets worldwide were buoyed by these aggressive policy actions, risk assets weakened later in the fall of 2012. Global trade slowed as many European countries fell into recession and growth continued to decelerate in China. In the United States, stocks slid on lackluster corporate earnings, and volatility rose in advance of the US Presidential election. In the post-election environment, investors became increasingly concerned about the “fiscal cliff” of tax increases and spending cuts that had been scheduled to take effect at the beginning of 2013. High levels of global market volatility persisted through year-end due to fears that bipartisan gridlock would preclude a timely resolution, putting the US economy at high risk for recession. As 2013 began, the worst of the fiscal cliff was averted with a last-minute tax deal.

Investors shook off the nerve-wracking finale to 2012 and the New Year started with a powerful relief rally. Money that had been pulled to the sidelines amid year-end tax-rate uncertainty poured back into the markets in January. Key indicators signaling modest but broad-based improvements in the world’s major economies underpinned the rally. Underlying this aura of comfort was the absence of negative headlines from Europe. Global equities surged, while rising US Treasury yields pressured high quality fixed income assets. (Bond prices move inversely with yields.)

However, February brought a slowdown in global economic momentum and investors toned down their risk appetite. In the months that followed, US equities outperformed international markets, as the US economic recovery showed greater stability compared to most other regions. Slow, but positive growth in the United States was sufficient to support corporate earnings, while uncomfortably high unemployment reinforced investors’ expectations that the US Federal Reserve would keep interest rates low. US equities moved higher through the spring, with major indices notching a string of all-time highs until finally peaking in late May. Markets abruptly reversed course on May 22 when the US Federal Reserve hinted at a gradual pull-back on monetary policy accommodation. Volatility picked up considerably after this announcement and risk assets broadly slid through the remainder of the period.

Volatility has been higher in financial markets outside the United States in 2013. International equities weakened in the middle of the first quarter when political instability in Italy and a severe banking crisis in Cyprus reminded investors that the eurozone was still vulnerable to a number of macro risks. A poor outlook for European economies already mired in recession further dampened sentiment. Emerging markets significantly lagged the rest of the world as growth in these economies (particularly China and Brazil) fell short of expectations.

Despite recent weakness, most risk asset classes generated positive returns for the 6- and 12-month periods ended June 30, 2013, while high quality fixed income assets posted modestly negative results. US equities were particularly strong. International equities also performed well, although rising uncertainty in Europe resulted in less impressive gains for the last six months. Emerging markets were especially hurt by slowing growth and concerns about a shrinking global money supply. US Treasury yields remained low from a historical perspective, but were highly volatile and rose sharply in the final two months of the period amid concerns about monetary policy tightening. In this volatile rate environment, US Treasury and investment grade corporate bond prices declined. Returns on high yield and tax-exempt municipal bonds, which had benefited from supportive market conditions during most of the period, were also weighed down by the recent spike in rates. Short-term interest rates, however, remained near zero, keeping yields on money market securities near historical lows.

Market conditions remain volatile, and investors still face a number of uncertainties in the current environment. At BlackRock, we believe investors need to think globally and extend their scope across a broader array of asset classes in a portfolio that moves freely as market conditions change over time. We encourage you to talk with your financial advisor and visit www.blackrock.com for further insight about investing in today’s world.

Sincerely,

LOGO

Rob Kapito

President, BlackRock Advisors, LLC

LOGO

“Despite recent weakness, most risk asset classes generated positive returns for the 6- and 12-month periods ended June 30, 2013, while high quality fixed income assets posted modestly negative results.”

Rob Kapito

President, BlackRock Advisors, LLC


Total Returns as of June 30, 2013
	6-month			12-month
US large cap equities (S&P 500^® Index)		13.82	%		20.60	%
US small cap equities (Russell 2000^® Index)		15.86			24.21
International equities (MSCI Europe, Australasia, Far East Index)		4.10			18.62
Emerging market equities (MSCI Emerging Markets Index)		(9.57	)		2.87
3-month Treasury bill (BofA Merrill Lynch 3-Month US Treasury Bill Index)		0.04			0.11
US Treasury securities (BofA Merrill Lynch 10-Year US Treasury Index)		(4.88	)		(4.21	)
US investment grade bonds (Barclays US Aggregate Bond Index)		(2.44	)		(0.69	)
Tax-exempt municipal bonds (S&P Municipal Bond Index)		(2.55	)		0.51
US high yield bonds (Barclays US Corporate High Yield 2% Issuer Capped Index)		1.42			9.49
Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.



		THIS PAGE NOT PART OF YOUR FUND REPORT				3


Fund Summary as of June 30, 2013				BlackRock International Index Fund

Investment Objective

BlackRock 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.


Portfolio Management Commentary

How did the Fund perform?

For the six months ended June 30, 2013, the Fund’s Institutional Shares returned 3.26%, Investor A Shares returned 3.09% and Class K Shares returned 3.26%. The benchmark MSCI EAFE Index returned 4.10% 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. The returns above are based on the systematic fair valuation of the investments held by the Fund, while the benchmark does not systematically fair value investments. Prior to systematic fair valuation, the Fund outperformed the benchmark.

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

Describe the market environment.

Risk markets globally began 2013 with a powerful relief rally after the United States averted the worst of its fiscal cliff situation with a last minute tax deal struck on New Year’s Day. The rally stalled in February, however, as economic momentum slowed and investors weighed the global impact of the inevitable US government spending cuts. Later in the first quarter, financial markets were rattled by a stalemate presidential election in Italy and a severe banking crisis in Cyprus, reminding investors that Europe was still quite vulnerable to political instability and its debt and banking problems were far from resolved.

International equities persevered through these flare-ups in the eurozone as investors’ risk appetite was largely supported by the continuation of accommodative monetary policy from the world’s largest central banks. As the year progressed, the markets became increasingly dominated by speculation around the future direction of monetary policy in response to signals from central banks, particularly the US Federal Reserve. Equities broadly advanced as increased global liquidity kept interest rates low and investors turned to riskier asset classes in search of yield. Sluggish global growth, ironically, was conducive to positive equity market performance. Although disappointing economic reports caused financial market volatility to rise, the weak data also afforded investors some comfort that major central banks would continue to maintain their accommodative stance.

However, after peaking in late May, international markets recoiled in response to comments from the US Federal Reserve, hinting that a change in its policy stance was on the horizon. Volatility picked up considerably and equities broadly declined through the remainder of the period due to concerns about the potential impact tighter US monetary policy would have on financial markets and global growth.

While rhetoric from the US Federal Reserve about tapering its bond-buying stimulus program was the catalyst for the sell-off in equity markets, indicators that global growth was continuing to slow (with the exception of Japan) was another source of investor anxiety. The US recovery showed signs of weakening and European countries already mired in recession saw economic conditions worsen. Slowing growth in emerging countries, particularly China and Brazil, dimmed the outlook for the entire global economy.

Nearly half of the developed countries represented in the MSCI EAFE Index posted losses (in US dollar terms) for the six-month period; however, heavier weightings in Japanese and Swiss stocks, which posted gains of 16.56% and 10.92%, respectively, supported the overall performance of the index. In the eurozone, Ireland (+8.52%) posted strong performance, followed by the Netherlands (+5.02%) and Belgium (+4.03%). The core economies of France (+3.17%) and Germany (+2.89%) exhibited resilience despite widespread recession in the region, while markets were down in Spain (-6.17%) and Italy (-9.04%). Outside the euro currency bloc, Sweden (+2.76%) and the United Kingdom (+0.27%) generated modest positive returns, while Denmark (-0.09%) and Norway (-5.35%) did not fare as well. Elsewhere, Australian stocks (-6.13%) struggled due to waning business conditions, severe currency weakness and declining commodity prices.

Describe recent portfolio activity.

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

Describe portfolio positioning at period end.

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

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



4	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


		BlackRock International Index Fund


Total Return Based on a $10,000 Investment

LOGO

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

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

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


Performance Summary for the Period Ended June 30, 2013


	6-Month Total Returns			Average Annual Total Returns⁴
	6-Month Total Returns			1 Year			5 Years			10 Years
Institutional		3.26	%		18.02	%		(0.88	)%		7.32	%
Investor A		3.09			17.69			(1.15	)		7.04
Class K⁵		3.26			17.98			(0.84	)		7.37
MSCI EAFE Index		4.10			18.62			(0.63	)		7.67

⁴

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

⁵

Class K Shares commenced operations on March 31, 2011.

Past performance is not indicative of future results.

Expense Example


	Actual						Hypothetical⁷
	Beginning Account Value January 1, 2013		Ending Account Value June 30, 2013		Expenses Paid During the Period⁶		Beginning Account Value January 1, 2013		Ending Account Value June 30, 2013		Expenses Paid During the Period⁶		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,032.60	$	1.76	$	1,000.00	$	1,023.06	$	1.76		0.35	%
Investor A	$	1,000.00	$	1,030.90	$	3.02	$	1,000.00	$	1,021.82	$	3.01		0.60	%
Class K	$	1,000.00	$	1,032.60	$	1.51	$	1,000.00	$	1,023.31	$	1.51		0.30	%

⁶

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

⁷

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

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



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	5


Fund Summary as of June 30, 2013		BlackRock Small Cap Index Fund


Investment Objective

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


Portfolio Management Commentary

How did the Fund perform?

For the six months ended June 30, 2013, the Fund’s Institutional Shares returned 16.13%, Investor A Shares returned 15.95% and Class K Shares returned 16.11%. The benchmark Russell 2000^® Index returned 15.86% for the same period.

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.

US stocks persevered through these flare-ups in the eurozone as investors’ risk appetite was largely supported by the continuation of accommodative monetary policy from the US Federal Reserve. Equities broadly advanced as increased global liquidity kept interest rates low and investors turned to riskier asset classes in search of yield. As the year progressed, the markets became increasingly dominated by speculation around the future direction of monetary policy. Sluggish global growth, ironically, was conducive to positive equity market performance. Although disappointing economic reports caused financial market volatility to rise, the weak data also afforded investors some comfort that the central bank would continue to maintain their accommodative stance.

However, after peaking in late May, US stock markets recoiled in response to comments from the US Federal Reserve, hinting that a change in its policy stance was on the horizon. Volatility picked up considerably and equities broadly declined through the remainder of the period due to concerns about the potential impact tighter monetary policy would have on financial markets and economic growth.

While rhetoric from the US Federal Reserve about tapering its bond-buying stimulus program was the catalyst for the sell-off in equity markets, indicators that global growth was continuing to slow (with the exception of Japan) was another source of investor anxiety. The US recovery showed signs of weakening and European countries already mired in recession saw economic conditions worsen. Slowing growth in emerging markets, particularly China and Brazil, dimmed the outlook for the entire global economy.

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.



6	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


		BlackRock Small Cap Index Fund


Total Return Based on a $10,000 Investment

LOGO

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

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.

This unmanaged index is comprised of approximately 2,000 smaller-capitalization common stocks from various industrial sectors.


Performance Summary for the Period Ended June 30, 2013


	6-Month Total Returns			Average Annual Total Returns⁴
	6-Month Total Returns			1 Year			5 Years			10 Years
Institutional		16.13	%		24.35	%		8.54	%		9.13	%
Investor A		15.95			24.01			8.29			8.86
Class K⁵		16.11			24.34			8.61			9.19
Russell 2000^® Index		15.86			24.21			8.77			9.53

⁴

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

⁵

Class K commenced operations on March 31, 2011.

Past

performance is not indicative of future results.

Expense Example


	Actual						Hypothetical⁷
	Beginning Account Value January 1, 2013		Ending Account Value June 30, 2013		Expenses Paid During the Period⁶		Beginning Account Value January 1, 2013		Ending Account Value June 30, 2013		Expenses Paid During the Period⁶		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,161.30	$	1.55	$	1,000.00	$	1,023.36	$	1.45		0.29	%
Investor A	$	1,000.00	$	1,159.50	$	2.94	$	1,000.00	$	1,022.07	$	2.76		0.55	%
Class K	$	1,000.00	$	1,161.10	$	1.34	$	1,000.00	$	1,023.55	$	1.25		0.25	%

⁶

⁷

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

See

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



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	7


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 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.

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

Disclosure of Expenses

Shareholders of these Funds may incur the following charges: (a) transactional expenses, such as sales charges; and (b) operating expenses, including administration fees, service fees, including 12b-1 fees, and other Fund expenses. The expense examples on the previous pages (which are based on a hypothetical investment of $1,000 invested on January 1, 2013 and held through June 30, 2013) are intended to assist shareholders both in calculating expenses based on an investment in the 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 example with the 5% hypothetical examples that appear in other funds’ shareholder reports.

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

Derivative Financial Instruments

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



8	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Statements of Assets and Liabilities


June 30, 2013 (Unaudited)	BlackRock International Index Fund			BlackRock Small Cap Index Fund

Assets
Investments at value — from Master International Index Series and Master Small Cap Index Series (each, a “Series”), respectively¹	$	301,198,161		$	108,974,320
Withdrawals receivable from the Series		—			453,599
Capital shares sold receivable		944,767			178,239
Prepaid expenses		26,627			27,886

Total assets		302,169,555			109,634,044


Liabilities
Contributions payable to the Series		615,899			—
Capital shares redeemed payable		328,868			631,838
Administration fees payable		51,040			3,773
Service fees payable		51,024			12,731
Officer’s fees payable		7			8
Other accrued expenses payable		77,328			73,488

Total liabilities		1,124,166			721,838

Net Assets	$	301,045,389		$	108,912,206


Net Assets Consist of
Paid-in capital	$	309,661,764		$	87,829,981
Undistributed net investment income		3,944,281			474,903
Accumulated net realized loss allocated from the Series		(50,449,832	)		(5,262,013	)
Net unrealized appreciation/depreciation allocated from the Series		37,889,176			25,869,335

Net Assets	$	301,045,389		$	108,912,206

¹Investments at cost	$	263,308,985		$	83,104,985

Net Asset Value
Institutional:
Net assets	$	53,941,886		$	46,351,948

Shares outstanding, 125 million shares authorized, $0.0001 par value		4,724,170			3,079,649

Net asset value	$	11.42		$	15.05

Investor A:
Net assets	$	245,645,303		$	61,733,826

Shares outstanding, 125 million shares authorized, $0.0001 par value		21,682,258			4,102,039

Net asset value	$	11.33		$	15.05

Class K:
Net assets	$	1,458,200		$	826,432

Shares outstanding, 125 million shares authorized, $0.0001 par value		127,643			54,838

Net asset value	$	11.42		$	15.07


Statements of Operations


Six Months Ended June 30, 2013 (Unaudited)	BlackRock International Index Fund			BlackRock Small Cap Index Fund

Investment Income
Income		—		$	256,328
Net investment income allocated from the Series:
Dividends — unaffiliated	$	6,822,665			652,068
Foreign taxes withheld		(545,665	)		(988	)
Securities lending — affiliated — net		—			83,150
Dividends — affiliated		393			9,407
Expenses		(78,150	)		(34,772	)
Fees waived		319			1,263

Total income		6,199,562			966,456


Fund Expenses
Administration		357,638			153,818
Service — Investor A		304,269			70,260
Transfer agent — Institutional		13,122			10,048
Transfer agent — Investor A		86,326			17,474
Transfer agent — Class K		40			51
Professional		24,073			26,013
Registration		23,302			24,975
Printing		18,736			17,640
Miscellaneous		5,892			4,871

Total expenses		833,398			325,150
Less fees waived by administrator		(60,322	)		(115,974	)
Less transfer agent fees waived and/or reimbursed — class specific		(26,796	)		(16,171	)

Total expenses after fees waived and/or reimbursed		746,280			193,005

Net investment income		5,453,282			773,451


Realized and Unrealized Gain (Loss) Allocated from the Series
Net realized gain (loss) from investments, financial futures contracts and foreign currency transactions		(1,655,021	)		4,087,832

Net change in unrealized appreciation/depreciation on investments, financial futures contracts and foreign currency translations		4,833,919			10,503,994

Total realized and unrealized gain		3,178,898			14,591,826

Net Increase in Net Assets Resulting from Operations	$	8,632,180		$	15,365,277


Statements of Changes in Net Assets


	BlackRock International Index Fund						BlackRock Small Cap Index Fund
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012			Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012

Operations
Net investment income	$	5,453,282		$	7,437,673		$	773,451		$	1,578,077
Net realized gain (loss)		(1,655,021	)		(20,249,413	)		4,087,832			6,203,776
Net change in unrealized appreciation/depreciation		4,833,919			56,355,838			10,503,994			6,639,561

Net increase in net assets resulting from operations		8,632,180			43,544,098			15,365,277			14,421,414


Dividends to Shareholders From
Net investment income:
Institutional		–			(1,661,118	)¹		(121,116	)		(1,228,601	)¹
Investor A		–			(6,510,024	)¹		(133,962	)		(1,136,281	)¹
Class K		–			(21,576	)¹		(1,250	)		(1,125	)¹

Decrease in net assets resulting from dividends to shareholders		–			(8,192,718	)		(256,328	)		(2,366,007	)


Capital Share Transactions
Net increase (decrease) in net assets derived from capital share transactions		15,360,592			3,246,488			131,643			(13,497,292	)


Net Assets
Total increase (decrease) in net assets		23,992,772			38,597,868			15,240,592			(1,441,885	)
Beginning of period		277,052,617			238,454,749			93,671,614			95,113,499

End of period	$	301,045,389		$	277,052,617		$	108,912,206		$	93,671,614

Undistributed (distributions in excess of) net investment income	$	3,944,281		$	(1,509,001	)	$	474,903		$	(42,220	)

Dividends are determined in accordance with federal income tax regulations.


Financial Highlights		BlackRock International Index Fund


	Institutional
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)			2012			2011			2010			2009			2008

Per Share Operating Performance
Net asset value, beginning of period	$	11.06		$	9.63		$	11.42		$	10.97		$	8.75		$	15.73

Net investment income¹		0.22			0.33			0.35			0.25			0.23			0.40
Net realized and unrealized gain (loss)		0.14			1.45			(1.79	)²		0.53	²		2.25	²		(7.03	)²

Net increase (decrease) from investment operations		0.36			1.78			(1.44	)		0.78			2.48			(6.63	)

Dividends and distributions from:
Net investment income		—			(0.35	)³		(0.35	)³		(0.33	)³		(0.26	)³		(0.31	)³
Net realized gain		—			—			—			—			—			(0.04	)³

Total dividends and distributions		—			(0.35	)		(0.35	)		(0.33	)		(0.26	)		(0.35	)

Net asset value, end of period	$	11.42		$	11.06		$	9.63		$	11.42		$	10.97		$	8.75


Total Investment Return⁴
Based on net asset value		3.26%	⁵		18.58%			(12.55)%			7.26%			28.38%			(42.24)%


Ratios to Average Net Assets⁶
Total expenses		0.39%	^7,8		0.42%	⁷		0.44%	⁷		0.47%			0.54%			0.54%

Total expenses after fees waived and/or reimbursed		0.35%	^7,8		0.34%	⁷		0.35%	⁷		0.46%			0.54%			0.54%

Net investment income		3.84%	^7,8		3.22%	⁷		3.14%	⁷		2.35%			2.43%			3.11%


Supplemental Data
Net assets, end of period (000)	$	53,942		$	52,589		$	70,169		$	112,145		$	89,889		$	90,688

Portfolio turnover of the Series		3%			21%			6%			8%			30%			30%

Based on average shares outstanding.

Includes a redemption fee, which is less than $0.01 per share.

Dividends and distributions are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

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

⁷

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

⁸

Annualized.


Financial Highlights (continued)		BlackRock International Index Fund


	Investor A
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)			2012			2011			2010			2009			2008

Per Share Operating Performance
Net asset value, beginning of period	$	10.99		$	9.57		$	11.36		$	10.91		$	8.71		$	15.65

Net investment income¹		0.21			0.30			0.31			0.23			0.21			0.36
Net realized and unrealized gain (loss)		0.13			1.45			(1.77	)²		0.52	²		2.23	²		(6.98	)²

Net increase (decrease) from investment operations		0.34			1.75			(1.46	)		0.75			2.44			(6.62	)

Dividends and distributions from:
Net investment income		—			(0.33	)³		(0.33	)³		(0.30	)³		(0.24	)³		(0.28	)³
Net realized gain		—			—			—			—			—			(0.04	)³

Total dividends and distributions		—			(0.33	)		(0.33	)		(0.30	)		(0.24	)		(0.32	)

Net asset value, end of period	$	11.33		$	10.99		$	9.57		$	11.36		$	10.91		$	8.71


Total Investment Return⁴
Based on net asset value		3.09%	⁵		18.33%			(12.84)%			7.02%			28.00%			(42.41)%


Ratios to Average Net Assets⁶
Total expenses		0.66%	^7,8		0.69%	⁷		0.70%	⁷		0.74%			0.79%			0.79%

Total expenses after fees waived and/or reimbursed		0.60%	^7,8		0.60%	⁷		0.60%	⁷		0.73%			0.79%			0.79%

Net investment income		3.62%	^7,8		2.90%	⁷		2.84%	⁷		2.16%			2.27%			2.83%


Supplemental Data
Net assets, end of period (000)	$	245,645		$	223,754		$	168,266		$	163,033		$	160,964		$	136,073

Portfolio turnover of the Series		3%			21%			6%			8%			30%			30%

Based on average shares outstanding.

Includes a redemption fee, which is less than $0.01 per share.

Dividends and distributions are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

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

⁷

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

⁸

Annualized.


Financial Highlights (concluded)		BlackRock International Index Fund


	Class K
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012			Period March 31, 2011¹ to December 31, 2011

Per Share Operating Performance
Net asset value, beginning of period	$	11.06		$	9.63		$	11.80

Net investment income²		0.24			0.22			0.26
Net realized and unrealized gain (loss)		0.12			1.57			(2.08	)

Net increase (decrease) from investment operations		0.36			1.79			(1.82	)

Dividends from net investment income		—			(0.36	)³		(0.35	)³

Net asset value, end of period	$	11.42		$	11.06		$	9.63
	��

Total Investment Return⁴
Based on net asset value		3.26%	⁵		18.65%			(15.38)%⁵


Ratios to Average Net Assets^6,7
Total expenses		0.35%	⁸		0.33%			0.48%	⁸

Total expenses after fees waived and/or reimbursed		0.30%	⁸		0.29%			0.30%	⁸

Net investment income		4.06%	⁸		2.11%			3.27%	⁸


Supplemental Data
Net assets, end of period (000)	$	1,458		$	710		$	20

Portfolio turnover of the Series		3%			21%			6%

Commencement of operations.

Based on average shares outstanding.

Dividends are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

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

⁷

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

⁸

Annualized.


Financial Highlights		BlackRock Small Cap Index Fund


	Institutional
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)			2012			2011			2010			2009			2008

Per Share Operating Performance
Net asset value, beginning of period	$	12.99		$	11.51		$	12.21		$	9.70		$	7.71		$	13.79

Net investment income¹		0.11			0.24			0.14			0.08			0.07			0.14
Net realized and unrealized gain (loss)		1.98			1.61			(0.69	)²		2.51	²		1.98	²		(4.86	)²

Net increase (decrease) from investment operations		2.09			1.85			(0.55	)		2.59			2.05			(4.72	)

Dividends and distributions from:
Net investment income		(0.03	)		(0.37	)³		(0.15	)³		(0.08	)³		(0.06	)³		(0.15	)³
Net realized gain		—			—			—			—			—			(1.09	)³
Tax return of capital		—			—			—			—			—			(0.12	)³

Total dividends and distributions		(0.03	)		(0.37	)		(0.15	)		(0.08	)		(0.06	)		(1.36	)

Net asset value, end of period	$	15.05		$	12.99		$	11.51		$	12.21		$	9.70		$	7.71


Total Investment Return⁴
Based on net asset value		16.13%	^5,6		16.10%			(4.49)	%		26.77%			26.67%			(34.01)	%


Ratios to Average Net Assets⁷
Total expenses		0.53%	^8,9		0.60%	⁸		0.61%	⁸		0.57%			0.56%			0.53%

Total expenses after fees waived and/or reimbursed		0.29%	^8,9		0.28%	⁸		0.30%	⁸		0.52%			0.56%			0.52%

Net investment income		1.58%	^8,9		1.88%	⁸		1.14%	⁸		0.80%			0.85%			1.19%


Supplemental Data
Net assets, end of period (000)	$	46,352		$	44,328		$	49,829		$	71,443		$	55,744		$	46,285

Portfolio turnover of the Series		18%			68%			31%			42%			43%			42%

Based on average shares outstanding.

Includes a redemption fee, which is less than $0.01 per share.

Dividends and distributions are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

Includes income received due to a processing error. Not including this income, the total investment return would have been 15.87%.

⁷

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

⁸

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

⁹

Annualized.


Financial Highlights (continued)		BlackRock Small Cap Index Fund


	Investor A
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)			2012			2011			2010			2009			2008

Per Share Operating Performance
Net asset value, beginning of period	$	13.01		$	11.51		$	12.21		$	9.71		$	7.72		$	13.79

Net investment income¹		0.10			0.21			0.11			0.06			0.05			0.11
Net realized and unrealized gain (loss)		1.97			1.62			(0.70	)²		2.50	²		1.98	²		(4.85	)²

Net increase (decrease) from investment operations		2.07			1.83			(0.59	)		2.56			2.03			(4.74	)

Dividends and distributions from:
Net investment income		(0.03	)		(0.33	)³		(0.11	)³		(0.06	)³		(0.04	)³		(0.12	)³
Net realized gain		—			—			—			—			—			(1.09	)³
Tax return of capital		—			—			—			—			—			(0.12	)³

Total dividends and distributions		(0.03	)		(0.33	)		(0.11	)		(0.06	)		(0.04	)		(1.33	)

Net asset value, end of period	$	15.05		$	13.01		$	11.51		$	12.21		$	9.71		$	7.72


Total Investment Return⁴
Based on net asset value		15.95%	^5,6		15.96%			(4.76)%			26.35%			26.36%			(34.19)%


Ratios to Average Net Assets⁷
Total expenses		0.81%	^8,9		0.88%	⁸		0.88%	⁸		0.80%			0.82%			0.80%

Total expenses after fees waived and/or reimbursed		0.55%	^8,9		0.55%	⁸		0.55%	⁸		0.78%			0.82%			0.79%

Net investment income		1.35%	^8,9		1.64%	⁸		0.88%	⁸		0.53%			0.59%			0.91%


Supplemental Data
Net assets, end of period (000)	$	61,734		$	49,303		$	45,263		$	47,252		$	38,340		$	29,787

Portfolio turnover of the Series		18%			68%			31%			42%			43%			42%

Based on average shares outstanding.

Includes a redemption fee, which is less than $0.01 per share.

Dividends and distributions are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

Includes income received due to a processing error. Not including this income, the total investment return would have been 15.69%.

⁷

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

⁸

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

⁹

Annualized.


Financial Highlights (concluded)		BlackRock Small Cap Index Fund


	Class K
	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012			Period March 31, 2011¹ to December 31, 2011

Per Share Operating Performance
Net asset value, beginning of period	$	13.01		$	11.51		$	13.17

Net investment income²		0.14			0.25			0.11
Net realized and unrealized gain (loss)		1.95			1.62			(1.62	)

Net increase (decrease) from investment operations		2.09			1.87			(1.51	)

Dividends from net investment income		(0.03	)		(0.37	)³		(0.15	)³

Net asset value, end of period	$	15.07		$	13.01		$	11.51


Total Investment Return⁴
Based on net asset value		16.11%	^5,6		16.30%			(11.42)%	⁵


Ratios to Average Net Assets^7,8
Total expenses		0.53%	⁹		0.68%			0.68%	⁹

Total expenses after fees waived and/or reimbursed		0.25%	⁹		0.25%			0.25%	⁹

Net investment income		1.97%	⁹		1.99%			1.28%	⁹


Supplemental Data
Net assets, end of period (000)	$	826		$	40		$	22

Portfolio turnover of the Series		18%			68%			31%

Commencement of operations.

Based on average shares outstanding.

Dividends are determined in accordance with federal income tax regulations.

⁴

Where applicable, total investment returns include the reinvestment of dividends and distributions.

⁵

Aggregate total investment return.

⁶

Includes income received due to a processing error. Not including this income, the total investment return would have been 15.84%.

⁷

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

⁸

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

⁹

Annualized.


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

1. Organization:

BlackRock International Index Fund (“International Index”) and BlackRock Small Cap Index Fund (“Small Cap Index”) (collectively, “the “Funds” or individually, a “Fund”), are each a series of BlackRock Index Funds, Inc. (the “Corporation”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, open-end management investment company. The Corporation is organized as a Maryland corporation. The Funds seek to achieve their investment objectives by investing all of their assets in Master International Index Series (“Master International Index”) and Master Small Cap Index Series (“Master Small Cap Index”), respectively (collectively, the “Series” or individually, a “Series”) of Quantitative Master Series LLC (the “Master LLC”), an affiliate of the Funds, each of which have the same investment objective and strategies as the corresponding Funds. The value of a Fund’s investment in the applicable Series reflects the Fund’s proportionate interest in the net assets of the Series. The performance of Funds is directly affected by the performance of the Series. The percentages of the Master International Index and Master Small Cap Index owned by International Index and Small Cap Index at June 30, 2013 were 36.2%, and 16.5%, respectively. The financial statements of the Series, including the Schedules of Investments, are included elsewhere in this report and should be read in conjunction with the Funds’ financial statements. The Funds offer multiple classes of shares. Institutional Shares and Class K Shares are sold without a sales charge and only to certain eligible investors. Investor A Shares are generally sold without a front-end sales charge. All classes of shares have identical voting, dividend, liquidation and other rights and the same terms and conditions, except that Investor A Shares bear certain expenses related to the shareholder servicing of such shares. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures.

2. Significant Accounting Policies:

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

Valuation: US GAAP defines fair value as the price the Funds would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds’ policy is to fair value their financial instruments at market value. The Funds record their investment in the Series at fair value based on the Funds’ proportionate interest in the net assets of the Series. Valuation of securities held by the Series is discussed in Note 1 of the Series’ Notes to Financial Statements, which are included elsewhere in this report.

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

Dividends and Distributions: Dividends and distributions paid by the Funds are recorded on the ex-dividend dates. The portion of distributions that exceeds a Funds’ current and accumulated earnings and profits, which are measured on a tax basis, will constitute a nontaxable return of capital. Distributions in excess of a Funds’ taxable income and net capital gains, but not in excess of a Funds’ earnings and profits, will be taxable to shareholders as ordinary income and will not constitute a nontaxable return of capital. Capital losses carried forward from years beginning before 2011 do not reduce earnings and profits, even if such carried forward losses offset current year realized gains. The character and timing of dividends and distributions are determined in accordance with federal income tax regulations, which may differ from US GAAP.

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

The Funds file US federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Funds’ US federal tax returns remains open for each of the four years ended December 31, 2012. The statutes of limitations on the Funds’ state and local tax returns may remain open for an additional year depending upon the jurisdiction. Management does not believe there are any uncertain tax positions that require recognition of a tax liability.

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

3. Administration Agreement and Other Transactions with Affiliates:

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

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

The Administrator contractually agreed to waive and/or reimburse fees or expenses, excluding interest expense, dividend expense, acquired fund fees and expenses and certain other fund expenses, which constitute



18	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


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

extraordinary expenses not incurred in the ordinary course of the Funds’ business, in order to limit expenses.

The expense limitation as a percentage of average daily net assets is as follows:


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

The Administrator has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2014 unless approved by the Corporation’s Board of Directors (the “Board”), including a majority of the Independent Directors. These amounts are shown as fees waived by administrator and transfer agent fees waived and/or reimbursed — class specific, respectively, in the Statements of Operations.

For the six months ended June 30, 2013, the amounts shown as transfer agent fees waived and/or reimbursed — class specific were as follows:


	International Index		Small Cap Index
Institutional	$	89	$	5,904
Investor A	$	26,668	$	10,216
Class K	$	39	$	51

In addition, the Administrator waived $60,322 and $115,974 for International Index and Small Cap Index, respectively, which are shown as fees waived by administrator in the Statements of Operations.

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

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

Pursuant to written agreements, certain financial intermediaries, some of which may be affiliates, provide the Funds with sub-accounting, recordkeeping, sub-transfer agency and other administrative services with respect to sub-accounts they service. For these services, these entities receive an annual fee per shareholder account, which will vary depending on share class and/or net assets. For the six months ended June 30, 2013, the Funds paid the following to affiliates in return for these services, which are included in transfer agent—class specific in the Statements of Operations:


	International Index		Small Cap Index
Investor A		—	$	178

The Administrator maintains a call center, which is responsible for providing certain shareholder services to the Funds, such as responding to shareholder inquiries and processing transactions based upon instructions from shareholders with respect to the subscription and redemption of Fund shares. For the six months ended June 30, 2013, the Funds reimbursed the Administrator the following amounts for costs incurred in running the call center, which are included in transfer agent — class specific in the Statements of Operations:


	International Index		Small Cap Index
Institutional	$	34	$	25
Investor A	$	1,419	$	654
Class K		—	$	3

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

4. Income Tax Information:

As of December 31, 2012, the Funds had capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates as follows:


Expires December 31,	International Index		Small Cap Index
2016	$	4,270,741		—
2017		6,596,186	$	5,382,644
No expiration date¹		25,830,034		—

Total	$	36,696,961	$	5,382,644

Must be utilized prior to losses subject to expiration.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	19


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

5. Capital Share Transactions:

Transactions in capital shares for each class were as follows:


	Six Months Ended June 30, 2013						Year Ended December 31, 2012
International Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		979,355		$	11,360,283			2,586,365		$	27,014,746
Shares issued to shareholders in reinvestment of dividends		—			—			133,467			1,452,499
Shares redeemed		(1,010,024	)		(11,678,553	)		(5,251,574	)		(54,524,964	)

Net decrease		(30,669	)	$	(318,270	)		(2,531,742	)	$	(26,057,719	)


Investor A
Shares sold		3,820,817		$	44,058,499			6,287,982		$	64,635,262
Shares issued to shareholders in reinvestment of dividends		—			—			597,968			6,462,313
Shares redeemed		(2,502,791	)		(29,115,252	)		(4,100,677	)		(42,432,223	)

Net increase		1,318,026		$	14,943,247			2,785,273		$	28,665,352


Class K
Shares sold		80,022		$	928,170			72,801		$	753,833
Shares issued to shareholders in reinvestment of dividends		—			—			1,909			20,814
Shares redeemed		(16,560	)		(192,555	)		(12,648	)		(135,792	)

Net increase		63,462		$	735,615			62,062		$	638,855

Total Net Increase		1,350,819		$	15,360,592			315,593		$	3,246,488

At June 30, 2013, affiliates owned 2,119 shares of Class K for International Index.


	Six Months Ended June 30, 2013						Year Ended December 31, 2012
Small Cap Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		680,387		$	9,692,011			1,580,057		$	19,997,150
Shares issued to shareholders in reinvestment of dividends		3,284			47,690			92,861			1,184,913
Shares redeemed		(1,016,074	)		(14,899,553	)		(2,591,654	)		(32,891,463	)

Net decrease		(332,403	)	$	(5,159,852	)		(918,736	)	$	(11,709,400	)


Investor A
Shares sold		849,156		$	12,127,897			1,177,051		$	14,949,308
Shares issued to shareholders in reinvestment of dividends		2,411			35,027			81,185			1,037,519
Shares redeemed		(540,129	)		(7,618,357	)		(1,400,945	)		(17,787,742	)

Net increase (decrease)		311,438		$	4,544,567			(142,709	)	$	(1,800,915	)


Class K
Shares sold		56,276		$	812,854			2,476		$	29,350
Shares issued to shareholders in reinvestment of dividends		81			1,185			33			423
Shares redeemed		(4,627	)		(67,111	)		(1,299	)		(16,750	)

Net increase		51,730		$	746,928			1,210		$	13,023

Total Net Increase (Decrease)		30,765		$	131,643			(1,060,235	)	$	(13,497,292	)

At June 30, 2013, affiliates owned 1,898 shares of Class K for Small Cap Index.

6. Subsequent Events:

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



20	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Series Portfolio Information as of June 30, 2013		Quantitative Master Series LLC

Master International Index Series

Master Small Cap Index Series


Ten Largest Holdings		Percent of Long-Term Investments


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


Geographic Allocation		Percent of Long-Term Investments


Japan	23	%
United Kingdom	21
Switzerland	10
France	9
Germany	9
Australia	8
Hong Kong	3
Netherlands	3
Spain	3
Sweden	3
Italy	2
Singapore	2
Other¹	4

Other includes a 1% or less investment in each of the following countries: Belgium, Denmark, Finland, Norway, Ireland, Israel, Austria, Bermuda, Cayman Islands, Greece, Mexico, New Zealand and Portugal.


Ten Largest Holdings		Percent of Long-Term Investments


CoStar Group, Inc.	0.3	%
CommVault Systems, Inc.	0.2
FirstMerit Corp.	0.2
Ultimate Software Group, Inc.	0.2
Acuity Brands, Inc.	0.2
Middleby Corp.	0.2
Prosperity Bancshares, Inc.	0.2
athenahealth, Inc.	0.2
Isis Pharmaceuticals, Inc.	0.2
Lufkin Industries, Inc.	0.2


Sector Allocation		Percent of Long-Term Investments


Financials	23	%
Information Technology	17
Consumer Discretionary	15
Industrials	14
Health Care	12
Energy	6
Materials	5
Consumer Staples	4
Utilities	3
Telecommunication Services	1

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



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	21

Schedule of Investments June 30, 2013 (Unaudited)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Australia — 7.8%
AGL Energy Ltd.		38,553	$	510,137
ALS Ltd.		24,392		212,340
Alumina Ltd. (a)		173,063		154,021
Amcor Ltd.		89,410		826,319
AMP Ltd.		214,946		831,284
APA Group		57,688		316,127
Asciano Ltd.		68,460		313,118
ASX Ltd.		13,607		410,329
Aurizon Holdings Ltd.		145,234		551,675
Australia & New Zealand Banking Group Ltd.		198,218		5,145,609
Bendigo and Adelaide Bank Ltd.		29,133		267,143
BGP Holdings Plc (a)		783,183		10
BHP Billiton Ltd.		232,004		6,677,728
Boral Ltd.		54,919		210,139
Brambles Ltd.		114,474		975,103
Caltex Australia Ltd.		9,654		158,791
CFS Retail Property Trust		155,701		283,869
Coca-Cola Amatil Ltd.		40,499		469,224
Cochlear Ltd.		4,105		230,389
Commonwealth Bank of Australia		116,242		7,316,979
Computershare Ltd.		34,173		320,407
Crown Ltd.		28,521		314,413
CSL Ltd.		36,159		2,036,402
Dexus Property Group		358,954		350,051
Echo Entertainment Group Ltd.		52,974		148,485
Federation Centres Ltd.		98,111		212,638
Flight Centre Ltd.		3,947		141,333
Fortescue Metals Group Ltd.		111,508		306,964
Goodman Group		120,840		537,251
GPT Group		126,577		444,452
Harvey Norman Holdings Ltd.		38,809		90,067
Iluka Resources Ltd.		29,539		266,208
Incitec Pivot Ltd.		114,484		298,076
Insurance Australia Group Ltd.		147,200		730,656
Leighton Holdings Ltd.		12,216		171,194
Lend Lease Group		39,211		298,954
Macquarie Group Ltd.		22,908		873,731
Metcash Ltd.		63,088		202,386
Mirvac Group		262,207		383,870
National Australia Bank Ltd.		169,231		4,577,690
Newcrest Mining Ltd.		54,223		500,543
Orica Ltd.		25,710		484,645
Origin Energy Ltd.		80,493		922,399
Qantas Airways Ltd. (a)		77,541		95,243
QBE Insurance Group Ltd.		87,070		1,205,527
Ramsay Health Care Ltd.		9,527		311,395
Rio Tinto Ltd.		31,420		1,505,813
Santos Ltd.		70,736		805,546
Seek Ltd.		23,033		190,662
Sonic Healthcare Ltd.		26,295		357,224
SP AusNet		124,539		133,615
Stockland		156,183		496,953
Suncorp Group Ltd.		94,284		1,024,026
Sydney Airport		13,793		42,560
Tabcorp Holdings Ltd.		52,333		145,744
Tatts Group Ltd.		100,334		289,832
Telstra Corp. Ltd.		314,123		1,365,640
Toll Holdings Ltd.		49,469		239,424
Transurban Group		100,658		621,617
Australia (concluded)
Treasury Wine Estates Ltd.		46,594	$	247,588
Wesfarmers Ltd.		72,972		2,640,571
Westfield Group		154,715		1,620,427
Westfield Retail Trust		218,418		617,705
Westpac Banking Corp.		224,222		5,886,918
Whitehaven Coal Ltd.		34,376		72,327
Woodside Petroleum Ltd.		47,481		1,512,170
Woolworths Ltd.		89,981		2,695,528
WorleyParsons Ltd.		14,832		262,753

				64,859,957
Austria — 0.3%
Andritz AG		5,118		262,592
Erste Group Bank AG		16,936		451,408
Immoeast AG NPV (a)		30,711		—
IMMOFINANZ AG		67,515		251,931
OMV AG		11,072		499,470
Raiffeisen Bank International AG		3,624		105,508
Telekom Austria AG		15,806		100,024
Verbund AG		4,748		90,053
Vienna Insurance Group AG		2,602		120,705
Voestalpine AG		7,832		276,966

				2,158,657
Belgium — 1.1%
Ageas		16,408		575,731
Anheuser-Busch InBev NV		58,042		5,225,702
Belgacom SA		10,971		245,642
Colruyt SA		5,505		289,667
Delhaize Group		7,266		449,201
Groupe Bruxelles Lambert SA		5,740		432,330
KBC Groep NV		16,247		605,678
Solvay SA		4,180		547,325
Telenet Group Holding NV		3,551		162,977
UCB SA		7,684		412,483
Umicore SA		8,215		341,126

				9,287,862
Denmark — 1.1%
A.P. Moller - Maersk A/S, Class A		40		269,318
A.P. Moller - Maersk A/S, Class B		97		693,900
Carlsberg A/S, Class B		7,937		709,695
Coloplast A/S, Class B		8,045		450,472
Danske Bank A/S (a)		48,471		826,864
DSV A/S		13,109		319,336
Novo-Nordisk A/S, Class B		29,425		4,574,480
Novozymes A/S, Class B		17,373		556,461
TDC A/S		53,149		430,750
Tryg A/S		1,678		138,243
William Demant Holding A/S (a)		1,914		158,138

				9,127,657
Finland — 0.8%
Elisa Oyj		10,481		204,651
Fortum Oyj		31,478		589,688
Kesko Oyj, Class B		4,450		123,617
Kone Oyj, Class B		11,449		908,128
Metso Oyj		9,209		311,935
Neste Oil Oyj		8,875		129,508
Nokia Oyj (a)		273,582		1,019,896

Portfolio Abbreviations


To simplify the listings of portfolio holdings in the Schedules of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:	ADR	American Depositary Receipts	GBP	British Pound
	AUD	Australian Dollar	REIT	Real Estate Investment Trust
	EUR	Euro	USD	US Dollar

See Notes to Financial Statements.



22	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Finland (concluded)
Nokian Renkaat Oyj		8,076	$	328,622
Orion Oyj, Class B		6,857		160,673
Pohjola Bank Plc, Class A		10,148		149,117
Sampo Oyj, Class A		30,753		1,197,516
Stora Enso Oyj, Class R		40,003		267,871
UPM-Kymmene Oyj		37,340		365,967
Wartsila Oyj		12,697		551,621

				6,308,810
France — 8.9%
Accor SA		11,498		404,163
Aeroports de Paris		2,172		211,140
Air Liquide SA		22,614		2,792,825
Alstom SA		15,320		502,553
ArcelorMittal		73,772		825,680
Arkema		4,407		403,969
Atos		3,901		289,915
AXA SA		129,803		2,558,768
BNP Paribas SA		71,811		3,931,295
Bouygues SA		13,613		346,884
Bureau Veritas SA		15,756		408,007
Cap Gemini SA		10,847		526,750
Carrefour SA		44,260		1,215,675
Casino Guichard-Perrachon SA		3,937		368,920
Christian Dior SA		4,061		656,068
Cie Generale de Geophysique-Veritas (a)		11,523		255,315
Cie Generale des Etablissements Michelin, Class B		13,297		1,188,963
CNP Assurances		10,999		157,924
Compagnie de Saint-Gobain		29,088		1,178,659
Credit Agricole SA (a)		70,732		608,778
Danone SA		41,427		3,118,142
Dassault Systemes SA		4,378		535,110
Edenred		14,550		445,516
EDF SA		17,318		401,892
Essilor International SA		14,585		1,553,854
Eurazeo		2,296		123,116
Eutelsat Communications SA		10,266		291,257
Fonciere Des Regions		1,928		144,504
France Telecom SA		133,668		1,265,755
GDF Suez		95,262		1,868,547
Gecina SA		1,582		174,850
Groupe Eurotunnel SA		40,461		307,664
ICADE		1,743		143,776
Iliad SA		1,652		356,911
Imerys SA		2,500		153,499
JC Decaux SA		4,659		126,818
Kering		5,532		1,125,691
Klepierre		7,240		285,324
L’Oreal SA		17,470		2,871,795
Lafarge SA		13,810		847,976
Lagardere S.C.A.		8,569		239,091
Legrand SA		17,886		829,288
LVMH Moet Hennessy Louis Vuitton SA		18,353		2,979,689
Natixis		64,590		271,196
Pernod Ricard SA		15,262		1,693,988
Publicis Groupe SA		13,081		931,617
Remy Cointreau SA		1,965		208,507
Renault SA		14,139		952,367
Rexel SA		10,866		244,819
Safran SA		17,884		933,659
Sanofi		86,223		8,913,778
Schneider Electric SA		38,187		2,773,395
Scor SE		11,565		354,958
SES SA		21,454		614,691
Societe BIC SA		1,967		197,327
Societe Generale SA		50,416		1,735,090
Sodexo		7,042		586,638
Common Stocks	Shares		Value
France (concluded)
Suez Environnement Co.		19,381	$	250,489
Technip SA		7,503		762,547
Thales SA		6,399		298,602
Total SA		153,813		7,512,713
Unibail-Rodamco SE		6,941		1,616,594
Vallourec SA		7,450		378,061
Veolia Environnement SA		24,529		280,052
Vinci SA		33,911		1,700,995
Vivendi SA		89,242		1,691,280
Wendel SA		2,277		234,826
Zodiac Aerospace		2,370		313,816

				74,474,321
Germany — 8.4%
Adidas AG		15,073		1,629,373
Allianz SE, Registered Shares		32,942		4,808,256
Axel Springer AG		2,723		115,876
BASF SE		66,352		5,918,165
Bayer AG, Registered Shares		59,738		6,360,336
Bayerische Motoren Werke AG		23,745		2,072,374
Bayerische Motoren Werke AG, Preference Shares		3,839		262,190
Beiersdorf AG		7,148		622,654
Brenntag AG		3,673		558,269
Celesio AG		5,979		129,791
Commerzbank AG (a)		69,176		600,949
Continental AG		8,073		1,076,203
Daimler AG, Registered Shares		69,430		4,191,410
Deutsche Bank AG, Registered Shares		73,677		3,089,483
Deutsche Boerse AG		14,222		935,214
Deutsche Lufthansa AG, Registered Shares (a)		16,225		328,676
Deutsche Post AG, Registered Shares		65,239		1,619,102
Deutsche Telekom AG, Registered Shares		204,368		2,380,998
E.ON AG		129,142		2,116,463
Fraport AG Frankfurt Airport Services Worldwide		2,725		164,666
Fresenius Medical Care AG & Co. KGaA		15,483		1,097,454
Fresenius SE & Co. KGaA		9,111		1,121,387
GEA Group AG		13,451		476,263
Hannover Rueckversicherung SE, Registered Shares		4,279		307,691
HeidelbergCement AG		10,001		670,075
Henkel AG & Co. KGaA		9,631		754,299
Henkel AG & Co. KGaA, Preference Shares		12,831		1,204,955
Hochtief AG		2,160		140,709
Hugo Boss AG		2,272		249,827
Infineon Technologies AG		76,345		639,077
K+S AG		12,062		445,777
Kabel Deutschland Holding AG		6,304		692,187
Lanxess AG		5,866		353,263
Linde AG		13,442		2,504,881
MAN SE		2,937		320,193
Merck KGaA		4,576		695,917
Metro AG		9,325		294,651
Muenchener Rueckversicherungs AG, Registered Shares		13,043		2,396,163
Porsche Automobil Holding SE, Preference Shares		11,308		873,233
ProSieben SAT.1 Media AG, Preference Shares		7,550		323,821
RWE AG		35,317		1,125,836
RWE AG, Non-Voting Preference Shares		2,740		84,572
SAP AG		66,568		4,860,993
Siemens AG, Registered Shares		57,395		5,812,019
Suedzucker AG		5,905		182,815
Telefonica Deutschland Holding AG		20,099		145,415
ThyssenKrupp AG (a)		28,878		566,075
United Internet AG		7,797		219,798
Volkswagen AG		2,096		407,515
Volkswagen AG, Preference Shares		10,371		2,094,772

				70,042,081

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	23

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Greece — 0.0%
Hellenic Telecommunications Organization SA (a)		17,634	$	137,922
OPAP SA		15,543		130,072

				267,994
Hong Kong — 3.0%
AAC Technologies Holdings, Inc.		52,500		294,550
AIA Group Ltd.		870,200		3,666,151
ASM Pacific Technology Ltd.		17,304		189,959
Bank of East Asia Ltd.		84,932		303,999
BOC Hong Kong Holdings Ltd.		273,900		837,884
Cathay Pacific Airways Ltd.		87,263		151,850
Cheung Kong Holdings Ltd.		100,835		1,359,702
Cheung Kong Infrastructure Holdings Ltd.		44,500		296,519
CLP Holdings Ltd.		130,687		1,056,451
First Pacific Co. Ltd.		154,000		164,625
Galaxy Entertainment Group Ltd. (a)		153,000		743,187
Hang Lung Properties Ltd.		158,000		547,285
Hang Seng Bank Ltd.		56,653		834,307
Henderson Land Development Co. Ltd.		74,240		440,902
HKT Trust/HKT Ltd.		156,000		149,132
Hong Kong & China Gas Ltd.		423,324		1,032,935
Hong Kong Exchanges and Clearing Ltd.		76,627		1,150,889
Hopewell Holdings Ltd.		41,349		137,235
Hutchison Whampoa Ltd.		155,176		1,623,491
Hysan Development Co. Ltd.		45,791		197,686
Kerry Properties Ltd.		52,500		204,668
Li & Fung Ltd.		437,980		596,962
The Link REIT		168,914		828,976
MGM China Holdings Ltd.		68,000		180,449
MTR Corp.		103,500		380,344
New World Development Co. Ltd.		264,226		362,935
NWS Holdings Ltd.		100,500		154,076
Orient Overseas International Ltd.		15,057		96,449
PCCW Ltd.		276,000		128,811
Power Assets Holdings Ltd.		102,500		882,320
Sands China Ltd.		178,600		834,610
Shangri-La Asia Ltd.		105,905		182,057
Sino Land Co. Ltd.		211,263		295,382
SJM Holdings Ltd.		137,000		332,473
Sun Hung Kai Properties Ltd.		116,324		1,493,837
Swire Pacific Ltd., Class A		48,077		579,245
Swire Properties Ltd.		83,000		244,356
Wharf Holdings Ltd.		112,357		937,778
Wheelock & Co. Ltd.		64,000		319,319
Wynn Macau Ltd.		108,800		292,647
Yue Yuen Industrial Holdings Ltd.		54,285		140,287

				24,646,720
Ireland — 0.5%
Bank of Ireland (a)		1,510,671		308,054
CRH Plc		53,112		1,074,598
Elan Corp. Plc (a)		34,358		482,149
Experian Plc		72,668		1,262,952
Irish Bank Resolution Corp. Ltd. (a)		62,641		1
James Hardie Industries SE		31,042		266,554
Kerry Group Plc		10,628		586,559
Ryanair Holdings Plc		10,891		100,917

				4,081,784
Israel — 0.5%
Bank Hapoalim BM (a)		74,133		334,561
Bank Leumi Le-Israel (a)		88,217		291,420
Bezeq The Israeli Telecommunication Corp. Ltd.		133,123		176,991
Delek Group Ltd.		355		91,644
Israel Chemicals Ltd.		31,321		307,585
The Israel Corp. Ltd. (a)		206		122,819
Mellanox Technologies Ltd. (a)		2,589		128,716
Mizrahi Tefahot Bank Ltd. (a)		8,935		89,456
Common Stocks	Shares		Value
Israel (concluded)
Nice Systems Ltd.		4,090	$	150,384
Teva Pharmaceutical Industries Ltd.		61,564		2,409,479

				4,103,055
Italy — 1.9%
Assicurazioni Generali SpA		83,991		1,468,136
Atlantia SpA		23,169		377,892
Banca Monte dei Paschi di Siena SpA (a)		447,785		113,436
Enel Green Power SpA		121,571		252,305
Enel SpA		473,472		1,485,739
Eni SpA		183,824		3,772,798
Exor SpA		4,458		132,025
Fiat Industrial SpA		63,618		708,187
Fiat SpA (a)		63,071		439,859
Finmeccanica SpA (a)		29,559		147,883
Intesa Sanpaolo SpA		830,586		1,329,386
Luxottica Group SpA		11,720		592,977
Mediobanca SpA		37,921		197,218
Pirelli & C SpA		16,831		194,569
Prysmian SpA		14,595		272,268
Saipem SpA		18,607		302,011
Snam SpA		145,095		660,667
Telecom Italia SpA		719,770		501,680
Telecom Italia SpA, Non-Convertible Savings Shares		434,224		242,083
Tenaris SA		33,336		667,667
Terna SpA		107,886		448,305
UniCredit SpA		317,577		1,484,636
Unione di Banche Italiane ScpA		62,528		226,123

				16,017,850
Japan — 22.1%
ABC-Mart, Inc.		2,000		77,951
Acom Co. Ltd. (a)		2,980		94,802
Advantest Corp.		10,200		168,063
Aeon Co. Ltd.		43,000		565,074
Aeon Credit Financial Co. Ltd.		4,500		127,473
Aeon Mall Co. Ltd.		7,500		186,060
Air Water, Inc.		10,000		140,578
Aisin Seiki Co. Ltd.		13,600		519,281
Ajinomoto Co., Inc.		45,000		660,116
Alfresa Holdings Corp.		2,900		155,281
All Nippon Airways Co. Ltd.		81,000		168,427
Amada Co. Ltd.		24,000		158,007
Aozora Bank Ltd. (a)		77,000		240,477
Asahi Glass Co. Ltd.		71,100		460,856
Asahi Group Holdings Ltd.		27,600		683,700
Asahi Kasei Corp.		90,000		593,831
Asics Corp.		11,000		173,356
Astellas Pharma, Inc.		32,200		1,749,235
The Bank of Kyoto Ltd.		23,000		191,544
The Bank of Yokohama Ltd.		87,000		448,803
Benesse Holdings, Inc.		5,600		202,031
Bridgestone Corp.		46,900		1,599,300
Brother Industries Ltd.		17,100		191,880
Calbee, Inc.		1,500		142,363
Canon, Inc.		82,200		2,693,963
Casio Computer Co. Ltd.		15,800		139,162
Central Japan Railway Co.		10,600		1,291,928
The Chiba Bank Ltd.		53,000		361,615
Chiyoda Corp.		10,000		117,938
Chubu Electric Power Co., Inc.		45,700		647,341
Chugai Pharmaceutical Co. Ltd.		15,900		329,119
The Chugoku Bank Ltd.		13,000		182,162
The Chugoku Electric Power Co., Inc.		21,600		338,692
Citizen Holdings Co. Ltd.		19,000		105,977
Coca-Cola West Co. Ltd.		3,900		69,161
Cosmo Oil Co. Ltd. (a)		38,000		69,887

See Notes to Financial Statements.



24	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Japan (continued)
Credit Saison Co. Ltd.		11,000	$	276,398
Dai Nippon Printing Co. Ltd.		40,000		364,991
The Dai-ichi Life Insurance Co. Ltd.		627		900,086
Daicel Corp.		21,000		183,539
Daido Steel Co. Ltd.		21,000		106,012
Daihatsu Motor Co. Ltd.		15,000		284,111
Daiichi Sankyo Co. Ltd.		47,700		794,911
Daikin Industries Ltd.		16,700		675,010
Dainippon Sumitomo Pharma Co. Ltd.		11,000		145,480
Daito Trust Construction Co. Ltd.		5,100		480,520
Daiwa House Industry Co. Ltd.		37,000		689,200
Daiwa Securities Group, Inc.		123,000		1,030,115
Dena Co. Ltd.		7,400		144,877
Denso Corp.		34,900		1,640,759
Dentsu, Inc.		12,813		443,260
Don Quijote Co. Ltd.		3,700		179,615
East Japan Railway Co.		24,349		1,895,144
Eisai Co. Ltd.		18,700		762,102
Electric Power Development Co. Ltd.		8,400		262,623
FamilyMart Co. Ltd.		4,000		170,674
FANUC Corp.		13,900		2,011,704
Fast Retailing Co. Ltd.		3,800		1,282,517
Fuji Electric Co. Ltd.		40,800		143,456
Fuji Heavy Industries Ltd.		42,000		1,037,158
FUJIFILM Holdings Corp.		34,400		756,581
Fujitsu Ltd.		139,000		575,042
Fukuoka Financial Group, Inc.		54,000		229,671
Furukawa Electric Co. Ltd.		46,000		106,420
Gree, Inc.		6,400		56,786
GungHo Online Entertainment, Inc. (a)		240		262,206
The Gunma Bank Ltd.		27,000		149,283
The Hachijuni Bank Ltd.		28,000		163,369
Hakuhodo DY Holdings, Inc.		1,640		114,863
Hamamatsu Photonics KK		4,900		176,955
Hankyu Hanshin Holdings, Inc.		81,000		461,018
Hino Motors Ltd.		18,000		264,131
Hirose Electric Co. Ltd.		2,100		276,591
The Hiroshima Bank Ltd.		35,000		148,973
Hisamitsu Pharmaceutical Co., Inc.		4,400		223,278
Hitachi Chemical Co. Ltd.		7,400		115,846
Hitachi Construction Machinery Co. Ltd.		7,300		147,240
Hitachi High-Technologies Corp.		4,400		106,109
Hitachi Ltd.		351,000		2,249,031
Hitachi Metals Ltd.		16,000		179,210
Hokkaido Electric Power Co., Inc. (a)		12,900		176,044
Hokuhoku Financial Group, Inc.		85,000		173,567
Hokuriku Electric Power Co.		11,700		183,589
Honda Motor Co. Ltd.		117,700		4,372,488
Hoya Corp.		30,700		631,444
Hulic Co. Ltd.		18,200		195,256
Ibiden Co. Ltd.		8,400		130,744
Idemitsu Kosan Co. Ltd.		1,500		114,985
IHI Corp.		94,000		355,651
Inpex Corp.		163		677,461
Isetan Mitsukoshi Holdings Ltd.		25,205		334,688
Isuzu Motors Ltd.		87,000		594,727
ITOCHU Corp.		108,400		1,253,525
Itochu Techno-Solutions Corp.		1,700		70,373
The Iyo Bank Ltd.		19,000		181,595
J. Front Retailing Co. Ltd.		34,600		275,923
Japan Airlines Co. Ltd.		4,340		223,426
Japan Exchange Group, Inc.		3,500		353,524
Japan Petroleum Exploration Co.		2,000		80,980
Japan Prime Realty Investment Corp.		53		162,179
Japan Real Estate Investment Corp.		42		469,172
Japan Retail Fund Investment Corp.		147		307,104
The Japan Steel Works Ltd.		24,000		131,700
Common Stocks	Shares		Value
Japan (continued)
Japan Tobacco, Inc.		79,800	$	2,816,742
JFE Holdings, Inc.		36,200		793,068
JGC Corp.		15,000		540,187
The Joyo Bank Ltd.		51,000		278,534
JSR Corp.		12,500		252,920
JTEKT Corp.		15,100		169,254
JX Holdings, Inc.		166,160		802,289
Kajima Corp.		57,800		191,627
Kamigumi Co. Ltd.		17,000		136,818
Kaneka Corp.		20,000		131,872
The Kansai Electric Power Co., Inc. (a)		53,500		732,324
Kansai Paint Co. Ltd.		18,000		229,773
Kao Corp.		38,300		1,303,790
Kawasaki Heavy Industries Ltd.		99,000		303,830
KDDI Corp.		38,800		2,020,450
Keikyu Corp.		32,000		274,720
Keio Corp.		41,000		281,689
Keisei Electric Railway Co. Ltd.		20,000		187,373
Keyence Corp.		3,292		1,048,866
Kikkoman Corp.		12,000		199,617
Kinden Corp.		10,000		86,053
Kintetsu Corp.		116,000		509,239
Kirin Holdings Co. Ltd.		62,000		971,186
Kobe Steel Ltd. (a)		179,000		221,365
Koito Manufacturing Co. Ltd.		7,000		133,440
Komatsu Ltd.		67,300		1,550,049
Konami Corp.		6,800		144,359
Konica Minolta Holdings, Inc.		33,000		248,382
Kubota Corp.		78,000		1,135,162
Kuraray Co. Ltd.		24,400		341,971
Kurita Water Industries Ltd.		8,200		173,563
Kyocera Corp.		11,600		1,180,252
Kyowa Hakko Kirin Co. Ltd.		19,000		214,764
Kyushu Electric Power Co., Inc. (a)		29,800		449,120
Lawson, Inc.		4,700		358,654
LIXIL Group Corp.		20,100		489,449
M3, Inc.		57		127,849
Mabuchi Motor Co. Ltd.		1,800		96,018
Makita Corp.		8,000		430,098
Marubeni Corp.		123,000		822,052
Marui Group Co. Ltd.		15,700		156,397
Maruichi Steel Tube Ltd.		3,400		86,876
Mazda Motor Corp. (a)		197,400		780,408
McDonald’s Holdings Co. Japan Ltd.		4,500		124,874
Medipal Holdings Corp.		10,100		136,933
Meiji Holdings Co. Ltd.		4,393		210,961
Miraca Holdings, Inc.		4,100		188,407
Mitsubishi Chemical Holdings Corp.		97,500		456,954
Mitsubishi Corp.		101,100		1,727,161
Mitsubishi Electric Corp.		141,000		1,317,518
Mitsubishi Estate Co. Ltd.		91,000		2,422,773
Mitsubishi Gas Chemical Co., Inc.		27,000		197,953
Mitsubishi Heavy Industries Ltd.		218,200		1,213,095
Mitsubishi Logistics Corp.		9,000		125,586
Mitsubishi Materials Corp.		77,000		271,085
Mitsubishi Motors Corp. (a)		301,000		412,007
Mitsubishi Tanabe Pharma Corp.		16,000		207,013
Mitsubishi UFJ Financial Group, Inc.		920,574		5,685,344
Mitsubishi UFJ Lease & Finance Co. Ltd.		41,900		198,796
Mitsui & Co. Ltd.		125,200		1,570,033
Mitsui Chemicals, Inc.		63,000		141,819
Mitsui Fudosan Co. Ltd.		60,000		1,764,001
Mitsui OSK Lines Ltd. (a)		76,000		295,346
Mizuho Financial Group, Inc.		1,655,564		3,438,098
MS&AD Insurance Group Holdings, Inc.		37,370		946,589
Murata Manufacturing Co. Ltd.		14,900		1,133,367
Nabtesco Corp.		7,300		151,568

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	25

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Japan (continued)
Namco Bandai Holdings, Inc.		13,000	$	210,697
NEC Corp.		157,000		343,807
Nexon Co. Ltd. (a)		7,300		80,629
NGK Insulators Ltd.		19,000		234,794
NGK Spark Plug Co. Ltd.		13,000		260,193
NHK Spring Co. Ltd.		10,700		123,540
Nidec Corp.		7,600		531,712
Nikon Corp.		24,000		560,736
Nintendo Co. Ltd.		7,900		930,138
Nippon Building Fund, Inc.		51		590,657
Nippon Electric Glass Co. Ltd.		26,500		128,999
Nippon Express Co. Ltd.		60,000		284,916
Nippon Meat Packers, Inc.		14,000		214,147
Nippon Prologis REIT, Inc.		18		156,190
Nippon Steel & Sumitomo Metal Corp.		547,265		1,474,469
Nippon Telegraph & Telephone Corp.		31,376		1,635,345
Nippon Yusen KK		112,000		296,338
The Nishi-Nippon City Bank Ltd.		48,000		125,166
Nissan Motor Co. Ltd.		178,700		1,791,040
Nisshin Seifun Group, Inc.		14,000		167,760
Nissin Foods Holdings Co. Ltd.		4,300		173,895
Nitori Holdings Co. Ltd.		2,300		185,171
Nitto Denko Corp.		11,710		751,028
NKSJ Holdings, Inc.		26,575		631,545
NOK Corp.		7,100		112,568
Nomura Holdings, Inc.		260,700		1,918,952
Nomura Real Estate Holdings, Inc.		8,800		194,389
Nomura Real Estate Office Fund, Inc.		19		83,321
Nomura Research Institute Ltd.		6,900		224,088
NSK Ltd.		36,000		343,435
NTT Data Corp.		91		324,138
NTT DoCoMo, Inc.		1,102		1,714,386
NTT Urban Development Corp.		84		103,102
Obayashi Corp.		46,000		238,514
Odakyu Electric Railway Co. Ltd.		44,000		429,689
OJI Paper Co. Ltd.		57,000		229,756
Olympus Corp. (a)		15,000		455,811
Omron Corp.		14,400		429,307
Ono Pharmaceutical Co. Ltd.		5,800		394,805
Oracle Corp. Japan		2,600		107,690
Oriental Land Co. Ltd.		3,600		557,121
ORIX Corp.		78,800		1,075,361
Osaka Gas Co. Ltd.		134,000		565,803
Otsuka Corp.		1,100		122,683
Otsuka Holdings Co. Ltd.		26,700		881,605
Panasonic Corp. (a)		161,100		1,297,185
Park24 Co. Ltd.		7,000		126,994
Rakuten, Inc.		53,700		635,002
Resona Holdings, Inc.		134,056		652,878
Ricoh Co. Ltd.		48,000		568,815
Rinnai Corp.		2,900		206,206
Rohm Co. Ltd.		6,900		280,218
Sankyo Co. Ltd.		3,600		170,112
Sanrio Co. Ltd.		3,200		148,441
Santen Pharmaceutical Co. Ltd.		5,200		225,029
SBI Holdings, Inc.		15,540		170,846
Secom Co. Ltd.		14,900		810,121
Sega Sammy Holdings, Inc.		14,332		359,133
Sekisui Chemical Co. Ltd.		32,000		339,792
Sekisui House Ltd.		41,000		592,388
Seven & I Holdings Co. Ltd.		54,200		1,984,984
Seven Bank Ltd.		39,600		143,553
Sharp Corp. (a)		75,000		301,985
Shikoku Electric Power Co., Inc. (a)		12,200		220,309
Shimadzu Corp.		16,000		128,793
Shimamura Co. Ltd.		1,600		194,227
Shimano, Inc.		5,600		477,035
Common Stocks	Shares		Value
Japan (continued)
Shimizu Corp.		41,000	$	164,818
Shin-Etsu Chemical Co. Ltd.		29,500		1,952,465
Shinsei Bank Ltd.		123,000		279,314
Shionogi & Co. Ltd.		20,900		435,836
Shiseido Co. Ltd.		26,000		386,849
The Shizuoka Bank Ltd.		41,000		442,217
Showa Denko KK		101,000		133,202
Showa Shell Sekiyu KK		13,200		108,298
SMC Corp.		3,900		781,855
Softbank Corp.		68,500		3,987,380
Sojitz Corp.		87,100		144,514
Sony Corp.		74,000		1,563,339
Sony Financial Holdings, Inc.		12,300		193,658
Stanley Electric Co. Ltd.		9,700		188,452
Sumco Corp.		8,600		94,203
Sumitomo Chemical Co. Ltd.		106,000		332,467
Sumitomo Corp.		82,900		1,033,232
Sumitomo Electric Industries Ltd.		53,500		636,866
Sumitomo Heavy Industries Ltd.		38,000		159,567
Sumitomo Metal Mining Co. Ltd.		39,000		434,408
Sumitomo Mitsui Financial Group, Inc.		92,850		4,250,024
Sumitomo Mitsui Trust Holdings, Inc.		239,820		1,118,966
Sumitomo Realty & Development Co. Ltd.		27,000		1,076,060
Sumitomo Rubber Industries Ltd.		11,800		192,624
Suruga Bank Ltd.		13,000		235,748
Suzuken Co. Ltd.		4,900		164,910
Suzuki Motor Corp.		27,300		629,274
Sysmex Corp.		5,100		334,027
T&D Holdings, Inc.		41,100		549,777
Taiheiyo Cement Corp.		82,000		261,678
Taisei Corp.		73,000		263,528
Taisho Pharmaceutical Holdings Co. Ltd.		2,400		170,343
Taiyo Nippon Sanso Corp.		18,000		124,128
Takashimaya Co. Ltd.		19,000		192,571
Takeda Pharmaceutical Co. Ltd.		57,400		2,588,394
TDK Corp.		8,900		306,695
Teijin Ltd.		63,000		138,000
Terumo Corp.		10,900		541,805
THK Co. Ltd.		8,200		172,061
Tobu Railway Co. Ltd.		72,000		371,060
Toho Co. Ltd.		7,800		160,430
Toho Gas Co. Ltd.		30,000		155,141
Tohoku Electric Power Co., Inc. (a)		32,300		403,295
Tokio Marine Holdings, Inc.		49,900		1,574,592
The Tokyo Electric Power Co., Inc. (a)		103,700		535,337
Tokyo Electron Ltd.		12,200		616,826
Tokyo Gas Co. Ltd.		174,000		959,967
Tokyo Tatemono Co. Ltd.		29,000		241,311
Tokyu Corp.		81,000		530,368
Tokyu Land Corp.		33,000		302,080
TonenGeneral Sekiyu KK		19,000		183,853
Toppan Printing Co. Ltd.		39,000		270,548
Toray Industries, Inc.		103,700		670,072
Toshiba Corp.		293,000		1,404,516
Toto Ltd.		20,000		203,361
Toyo Seikan Kaisha Ltd.		12,400		190,871
Toyo Suisan Kaisha Ltd.		6,000		199,636
Toyoda Gosei Co. Ltd.		4,900		119,803
Toyota Boshoku Corp.		5,000		71,893
Toyota Industries Corp.		11,700		477,804
Toyota Motor Corp.		199,200		12,015,309
Toyota Tsusho Corp.		14,900		383,122
Trend Micro, Inc.		7,500		238,446
Tsumura & Co.		4,100		120,829
Ube Industries Ltd.		68,000		125,805
Uni-charm Corp.		8,000		452,467
United Urban Investment Corp.		164		221,401

See Notes to Financial Statements.



26	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Japan (concluded)
USS Co. Ltd.		1,610	$	204,108
West Japan Railway Co.		12,500		530,128
Yahoo! Japan Corp.		1,092		537,717
Yakult Honsha Co. Ltd.		6,700		277,827
Yamada Denki Co. Ltd.		6,800		275,327
Yamaguchi Financial Group, Inc.		14,000		137,749
Yamaha Corp.		10,800		123,741
Yamaha Motor Co. Ltd.		19,800		256,449
Yamato Holdings Co. Ltd.		26,500		558,096
Yamato Kogyo Co. Ltd.		2,900		88,575
Yamazaki Baking Co. Ltd.		8,000		93,889
Yaskawa Electric Corp.		15,000		182,049
Yokogawa Electric Corp.		16,400		196,058
The Yokohama Rubber Co., Ltd.		14,000		140,577

				183,891,642
Mexico — 0.0%
Fresnillo Plc		12,548		169,408
Netherlands — 2.9%
Aegon NV		126,672		849,850
Akzo Nobel NV		17,486		986,665
ASML Holding NV		25,685		2,027,592
Corio NV		4,942		196,683
DE Master Blenders 1753 NV (a)		35,714		571,791
Delta Lloyd NV		12,841		257,334
European Aeronautic Defence and Space Co. NV		42,226		2,259,121
Fugro NV CVA		5,455		296,405
Gemalto NV		5,615		508,397
Heineken Holding NV		7,264		407,123
Heineken NV		16,618		1,057,761
ING Groep NV - CVA (a)		278,265		2,543,086
Koninklijke Ahold NV		74,163		1,103,022
Koninklijke Boskalis Westminster NV		5,261		191,652
Koninklijke DSM NV		11,433		745,356
Koninklijke KPN NV		231,621		480,566
Koninklijke Philips Electronics NV		68,736		1,873,818
Koninklijke Vopak NV		4,966		293,110
QIAGEN NV (a)		16,630		325,407
Randstad Holding NV		8,471		348,229
Reed Elsevier NV		50,983		849,096
STMicroelectronics NV		44,821		402,799
TNT Express NV		26,340		197,348
Unilever NV CVA		117,696		4,633,017
Wolters Kluwer NV		21,091		446,738
Ziggo NV		12,168		488,754

				24,340,720
New Zealand — 0.1%
Auckland International Airport Ltd.		80,989		186,272
Contact Energy Ltd.		25,128		99,446
Fletcher Building Ltd.		49,552		322,709
SKYCITY Entertainment Group Ltd.		39,554		133,442
Telecom Corp. of New Zealand Ltd.		133,880		233,130

				974,999
Norway — 0.8%
Aker Solutions ASA		12,065		164,712
DnB NOR ASA		71,593		1,038,575
Gjensidige Forsikring ASA		14,091		207,591
Norsk Hydro ASA		67,655		271,292
Orkla ASA		54,841		449,012
Seadrill Ltd.		26,827		1,080,494
Statoil ASA		80,275		1,658,326
Subsea 7 SA (a)		19,972		350,164
Telenor ASA		51,536		1,023,660
Yara International ASA		13,150		524,409

				6,768,235
Common Stocks	Shares		Value
Portugal — 0.2%
Banco Espirito Santo SA, Registered Shares (a)		140,243	$	112,432
EDP - Energias de Portugal SA		145,550		469,510
Galp Energia SGPS SA		19,001		281,671
Jeronimo Martins SGPS SA		18,024		379,883
Portugal Telecom SGPS SA, Registered Shares		44,559		173,353

				1,416,849
Singapore — 1.6%
Ascendas Real Estate Investment Trust		153,962		269,816
CapitaCommercial Trust		138,000		159,197
CapitaLand Ltd.		180,749		436,686
CapitaMall Trust		166,700		261,588
CapitaMalls Asia Ltd.		100,000		143,425
City Developments Ltd.		35,535		298,946
ComfortDelGro Corp. Ltd.		135,816		195,182
DBS Group Holdings Ltd.		123,407		1,501,604
Genting Singapore Plc		433,227		449,231
Global Logistic Properties Ltd.		221,000		478,038
Golden Agri-Resources Ltd.		511,251		225,070
Hutchison Port Holdings Trust		371,000		271,683
Jardine Cycle & Carriage Ltd.		7,721		258,144
Keppel Corp. Ltd.		106,577		871,729
Keppel Land Ltd.		56,000		147,260
Keppel REIT		400		408
Noble Group Ltd.		317,840		241,728
Olam International Ltd.		108,900		140,173
Oversea-Chinese Banking Corp.		185,914		1,461,494
SembCorp Industries Ltd.		70,590		274,630
Sembcorp Marine Ltd.		59,197		200,603
Singapore Airlines Ltd.		38,009		303,385
Singapore Exchange Ltd.		60,000		331,644
Singapore Press Holdings Ltd.		99,985		328,626
Singapore Technologies Engineering Ltd.		107,213		353,176
Singapore Telecommunications Ltd.		573,132		1,697,511
StarHub Ltd.		44,157		145,188
United Overseas Bank Ltd.		93,572		1,461,230
UOL Group Ltd.		32,457		171,580
Wilmar International Ltd.		138,670		342,964
Yangzijiang Shipbuilding Holdings Ltd.		135,183		88,232

				13,510,171
Spain — 2.8%
Abertis Infraestructuras SA		25,784		449,250
Acciona SA		1,866		98,380
ACS Actividades de Construccion y Servicios SA		9,798		259,198
Amadeus IT Holding SA, Class A		27,197		870,444
Banco Bilbao Vizcaya Argentaria SA		399,792		3,359,797
Banco de Sabadell SA		197,472		327,598
Banco Popular Espanol SA (a)		90,331		276,536
Banco Santander SA		780,960		4,997,551
Bankia SA (a)		289,400		223,758
Caixa Bank		81,589		250,606
Distribuidora Internacional de Alimentacion SA		44,107		333,196
Enagas SA		13,781		340,612
Ferrovial SA		28,157		449,527
Gas Natural SDG SA		26,300		529,880
Grifols SA		10,747		394,837
Iberdrola SA		338,695		1,789,868
Inditex SA		15,670		1,932,820
International Consolidated Airlines Group SA (a)		65,894		264,555
Mapfre SA		56,128		182,618
Red Electrica Corp. SA		7,798		428,791
Repsol YPF SA		60,687		1,280,797
Telefonica SA (a)		295,967		3,807,732
Zardoya Otis SA		11,354		160,788

				23,009,139

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	27

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Sweden — 3.1%
Alfa Laval AB		23,860	$	487,348
Assa Abloy AB, Class B		24,584		960,786
Atlas Copco AB, Class A		48,403		1,166,600
Atlas Copco AB, Class B		27,485		588,199
Boliden AB		19,708		244,287
Electrolux AB, Class B		17,162		433,079
Elekta AB, B Shares		26,558		403,643
Getinge AB, Class B		14,243		432,431
Hennes & Mauritz AB, Class B		69,095		2,273,319
Hexagon AB, Class B		17,064		456,144
Husqvarna AB, Class B		29,922		158,023
Industrivarden AB, Class C		8,006		133,687
Investor AB, Class B		33,592		901,638
Investment AB Kinnevik, Class B		14,676		376,250
Lundin Petroleum AB (a)		15,784		312,187
Millicom International Cellular SA		4,433		319,275
Nordea Bank AB		191,920		2,143,221
Ratos AB, Class B		13,092		101,532
Sandvik AB		76,199		910,069
Scania AB, Class B		22,750		455,157
Securitas AB, Class B		22,513		196,814
Skandinaviska Enskilda Banken AB, Class A		108,549		1,036,317
Skanska AB, Class B		27,380		453,747
SKF AB, Class B		29,127		682,362
Svenska Cellulosa AB, B Shares		42,590		1,068,103
Svenska Handelsbanken AB, Class A		35,783		1,433,626
Swedbank AB, Class A		66,307		1,518,732
Swedish Match AB		14,574		517,297
Tele2 AB, Class B		22,260		261,322
Telefonaktiebolaget LM Ericsson, Class B		220,945		2,505,478
TeliaSonera AB		170,183		1,109,034
Volvo AB, Class B		108,284		1,444,990

				25,484,697
Switzerland — 9.0%
ABB Ltd., Registered Shares		158,911		3,442,322
Actelion Ltd., Registered Shares		7,553		454,975
Adecco SA, Registered Shares		9,385		534,494
Aryzta AG		6,071		340,785
Baloise Holding AG, Registered Shares		3,370		327,312
Banque Cantonale Vaudoise		218		108,062
Barry Callebaut AG		177		161,997
Cie Financiere Richemont SA, Class A		37,723		3,326,724
Coca-Cola HBC AG ADR		14,579		340,857
Credit Suisse Group AG		108,346		2,868,360
EMS-Chemie Holding AG		575		170,307
Geberit AG, Registered Shares		2,776		687,680
Givaudan SA, Registered Shares		588		757,682
Holcim Ltd., Registered Shares		16,494		1,148,086
Julius Baer Group Ltd.		16,007		624,727
Kuehne & Nagel International AG, Registered Shares		3,836		420,867
Lindt & Spruengli AG		62		232,733
Lindt & Spruengli AG, Registered Shares		7		304,577
Lonza Group AG, Registered Shares		3,867		290,557
Nestle SA, Registered Shares		232,905		15,283,312
Novartis AG, Registered Shares		166,141		11,767,858
Pargesa Holding SA		2,037		135,727
Partners Group Holding AG		1,231		333,206
Roche Holding AG		50,743		12,594,266
Schindler Holding AG, Participation Certificates		3,448		479,749
Schindler Holding AG, Registered Shares		1,514		205,048
SGS SA, Registered Shares		404		867,356
Sika AG		150		387,861
Sonova Holding AG, Registered Shares		3,539		374,411
Sulzer AG		1,732		276,571
The Swatch Group AG, Bearer Shares		2,220		1,212,650
The Swatch Group AG, Registered Shares		3,151		296,302
Common Stocks	Shares		Value
Switzerland (concluded)
Swiss Life Holding, Registered Shares AG		2,361	$	383,242
Swiss Prime Site AG		3,878		285,087
Swiss Re AG		25,325		1,884,201
Swisscom AG, Registered Shares		1,732		758,219
Syngenta AG, Registered Shares		6,758		2,635,342
Transocean Ltd.		25,870		1,242,201
UBS AG, Registered Shares		263,291		4,469,056
Zurich Insurance Group AG		10,735		2,782,608

				75,197,377
United Kingdom — 21.1%
3i Group Plc		70,365		361,304
Aberdeen Asset Management Plc		68,601		399,233
Admiral Group Plc		14,498		292,047
Aggreko Plc		19,053		476,220
AMEC Plc		21,713		332,083
Anglo American Plc		101,409		1,954,213
Antofagasta Plc		27,589		334,298
ARM Holdings Plc		99,770		1,206,925
Associated British Foods Plc		25,171		664,012
AstraZeneca Plc		90,183		4,263,744
Aviva Plc		214,939		1,107,826
Babcock International Group Plc		25,142		422,157
BAE Systems Plc		234,263		1,364,227
Barclays Plc		872,171		3,714,350
BG Group Plc		245,841		4,177,832
BHP Billiton Plc		152,553		3,889,769
BP Plc		1,384,313		9,607,054
British American Tobacco Plc		139,404		7,149,965
British Land Co. Plc		67,021		577,358
British Sky Broadcasting Group Plc		75,685		911,773
BT Group Plc		571,208		2,681,677
Bunzl Plc		23,887		465,894
Burberry Group Plc		32,909		677,020
The Capita Group Plc		46,492		683,386
Capital Shopping Centres Group Plc		47,929		227,834
Carnival Plc		13,771		478,678
Centrica Plc		372,818		2,039,206
Cobham Plc		76,587		305,356
Compass Group Plc		132,913		1,698,306
Croda International Plc		9,750		367,673
Diageo Plc		181,297		5,198,925
Direct Line Insurance Group Plc		59,281		210,081
easyJet Plc		11,381		224,330
G4S Plc		98,515		347,363
GKN Plc		116,331		532,493
GlaxoSmithKline Plc		354,401		8,858,685
Glencore International Plc		729,061		3,017,932
Hammerson Plc		50,178		372,053
Hargreaves Lansdown Plc		16,520		223,141
HSBC Holdings Plc		1,335,034		13,820,458
ICAP Plc		39,581		218,540
IMI Plc		23,015		433,798
Imperial Tobacco Group Plc		70,888		2,458,013
Inmarsat Plc		31,730		324,948
InterContinental Hotels Group Plc		19,268		529,527
Intertek Group Plc		11,411		507,237
Invensys Plc		47,023		294,458
Investec Plc		39,244		246,967
ITV Plc		264,488		563,902
J. Sainsbury Plc		87,633		473,643
Johnson Matthey Plc		14,590		582,942
Kingfisher Plc		174,636		910,520
Land Securities Group Plc		57,804		776,350
Legal & General Group Plc		432,596		1,127,497
Lloyds Banking Group Plc (a)		3,304,421		3,173,271
London Stock Exchange Group Plc		12,540		254,888

See Notes to Financial Statements.



28	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master International Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
United Kingdom (continued)
Marks & Spencer Group Plc		119,053	$	778,991
Meggitt Plc		56,373		444,145
Melrose Industries Plc		94,506		358,201
National Grid Plc		264,918		3,003,009
Next Plc		11,423		791,273
Old Mutual Plc		359,759		987,577
Pearson Plc		59,851		1,064,407
Persimmon Plc (a)		21,689		389,337
Petrofac Ltd.		18,345		333,940
Prudential Plc		184,874		3,017,656
Randgold Resources Ltd.		6,128		388,310
Reckitt Benckiser Group Plc		46,722		3,304,951
Reed Elsevier Plc		85,336		970,456
Resolution Ltd.		101,525		439,772
Rexam Plc		56,334		408,828
Rio Tinto Plc		92,677		3,769,076
Rolls-Royce Holdings Plc		136,313		2,347,090
Royal Bank of Scotland Group Plc (a)		151,160		627,281
Royal Dutch Shell Plc, Class A		272,487		8,704,324
Royal Dutch Shell Plc, Class B		188,844		6,254,311
RSA Insurance Group Plc		269,916		489,680
SABMiller Plc		69,248		3,319,980
The Sage Group Plc		81,163		419,468
Schroders Plc		7,939		263,550
Segro Plc		52,071		220,900
Serco Group Plc		36,071		339,214
Severn Trent Plc		17,021		431,002
Shire Plc		40,686		1,289,346
Smith & Nephew Plc		66,763		747,736
Smiths Group Plc		27,823		553,532
SSE Plc		69,035		1,598,682
Standard Chartered Plc		174,364		3,785,507
Standard Life Plc		173,557		913,373
Tate & Lyle Plc		32,559		408,507
Tesco Plc		582,273		2,932,218
Travis Perkins Plc		17,536		388,287
Tui Travel Plc		31,441		170,466
Tullow Oil Plc		66,532		1,012,803
Unilever Plc		92,744		3,754,478
United Utilities Group Plc		48,256		502,064
Vedanta Resources Plc		7,455		115,872
Common Stocks	Shares		Value
United Kingdom (concluded)
Vodafone Group Plc		3,534,373	$	10,128,362
The Weir Group Plc		15,152		495,452
Whitbread Plc		12,637		587,869
William Hill Plc		61,775		414,255
WM Morrison Supermarkets Plc		158,518		630,973
Wolseley Plc		20,170		930,634
WPP Plc		90,903		1,553,788

				175,294,315
Total Common Stocks — 98.0%				815,434,300


Preferred Stocks — 0.0%
Germany — 0.0%
Fuchs Petrolub AG, Preference Shares		2,547		201,931


Rights
Bermuda — 0.0%
First Pacific Co. Ltd. (Expires 7/03/13)		19,250		521
Hong Kong — 0.0%
New World Development Co. Ltd. (Expires 8/30/13)		3,302		—
Spain — 0.0%
Repsol SA (a) (Expires 7/10/13)		58,989		32,863
Total Rights — 0.0%				33,384
Total Long-Term Investments (Cost — $654,241,039) — 98.0%				815,669,615



Short-Term Securities
BlackRock Liquidity Funds, TempCash, Institutional Class, 0.06% (b)(c)		4,365,311		4,365,311
Total Short-Term Securities (Cost — $4,365,311) — 0.5%				4,365,311
*Total Investments (Cost — $658,606,350) — 98.5%**				820,034,926
Other Assets Less Liabilities — 1.5%				12,302,414

Net Assets — 100.0%			$	832,337,340

Notes to Schedule of Investments

As of June 30, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:


Tax cost	$	700,610,351

Gross unrealized appreciation	$	201,007,021
Gross unrealized depreciation		(81,582,446	)

Net unrealized appreciation	$	119,424,575

(a)

Non-income producing security.

(b)

Investments in issuers considered to be an affiliate of the Series during the six months ended June 30, 2013, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


Affiliate	Shares Held at December 31, 2012		Net Activity			Shares Held at June 30, 2013		Income
BlackRock Liquidity Funds, TempCash, Institutional Class		—		4,365,311	¹		4,365,311	$	1,102

Represents net shares purchased.

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	29


Schedule of Investments (continued)		Master International Index Series

(c)

Represents the current yield as of report date.

Financial futures contracts as of June 30, 2013 were as follows:


Contracts Purchased		Issue	Exchange	Expiration	Notional Value		Unrealized Appreciation (Depreciation)
	119	DJ Euro Stoxx 50 Index	Eurex	September 2013	$	4,024,205	$	(92,969	)
	44	FTSE 100 Index	Euronext LIFFE	September 2013	$	4,123,386		(30,950	)
	41	Nikkei 225 Index	Singapore Exchange	September 2013	$	2,816,218		73,369
	14	SPI 200 Index	Australian Securities Exchange	September 2013	$	1,526,521		8,106
	Total						$	(42,444	)

Foreign currency exchange contracts as of June 30, 2013 were as follows:


Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Depreciation
AUD	646,343	USD	600,000	Deutsche Bank AG		7/01/13	$	(8,887	)
EUR	766,754	USD	1,000,000	Deutsche Bank AG		7/01/13		(1,956	)
GBP	327,890	USD	500,000	Deutsche Bank AG		7/01/13		(1,295	)
Total							$	(12,138	)

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

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.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Series’ policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Series’ policy regarding valuation of investments and derivative financial instruments, please refer to Note 2 of the Notes to Financial Statements.

The following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy as of June 30, 2013:


	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments:
Common Stocks:
Australia	$	2,036,412	$	62,823,545		—	$	64,859,957
Austria		—		2,158,657		—		2,158,657
Belgium		162,977		9,124,885		—		9,287,862
Denmark		430,750		8,696,907		—		9,127,657
Finland		—		6,308,810		—		6,308,810
France		586,638		73,887,683		—		74,474,321
Germany		—		70,042,081		—		70,042,081
Greece		—		267,994		—		267,994
Hong Kong		—		24,646,720		—		24,646,720
Ireland		586,560		3,495,224		—		4,081,784
Israel		—		4,103,055		—		4,103,055
Italy		—		16,017,850		—		16,017,850
Japan		56,786		183,834,856		—		183,891,642
Mexico		—		169,408		—		169,408
Netherlands		1,080,188		23,260,532		—		24,340,720
New Zealand		—		974,999		—		974,999
Norway		350,164		6,418,071		—		6,768,235
Portugal		—		1,416,849		—		1,416,849

See Notes to Financial Statements.



30	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Schedule of Investments (concluded)		Master International Index Series


	Level 1		Level 2		Level 3		Total
Common Stocks (concluded):
Singapore		—	$	13,510,171		—	$	13,510,171
Spain	$	223,758		22,785,381		—		23,009,139
Sweden		—		25,484,697		—		25,484,697
Switzerland		340,857		74,856,520		—		75,197,377
United Kingdom		210,081		175,084,234		—		175,294,315
Preferred Securities		—		201,931		—		201,931
Rights:
Bermuda		521		—		—		521
Spain		32,863		—		—		32,863
Short-Term Securities		4,365,311						4,365,311

Total	$	10,463,866	$	809,571,060		—	$	820,034,926


	Level 1			Level 2			Level 3		Total
Derivative Financial Instruments¹
Assets:
Equity contracts	$	81,475			—			—	$	81,475
Liabilities:
Equity contracts		(123,919	)		—			—		(123,919	)
Foreign currency exchange contracts		—		$	(12,138	)		—		(12,138	)

Total	$	(42,444	)	$	(12,138	)		—	$	(54,582	)

Derivative financial instruments are financial futures contracts and foreign currency exchange contracts. Financial futures contracts and foreign currency exchange contracts are valued at the unrealized appreciation/depreciation on the instrument.

Certain of the Series’ assets are held at carrying amount, which approximates fair value for financial statement purposes. As of June 30, 2013, such assets are categorized within the disclosure hierarchy as follows:


	Level 1		Level 2		Level 3		Total
Assets:
Cash pledged for financial futures contracts	$	840,000		—		—	$	840,000
Foreign currency at value		5,547,756		—		—		5,547,756

Total	$	6,387,756		—		—	$	6,387,756

There were no transfers between levels during the six months ended June 30, 2013.

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	31

Schedule of Investments June 30, 2013 (Unaudited)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Advertising Agencies — 0.6%
Arbitron, Inc.		12,238	$	568,455
Constant Contact, Inc. (a)		14,003		225,028
Digital Generation, Inc. (a)		11,029		81,284
Harte-Hanks, Inc.		19,696		169,386
Marchex, Inc., Class B		10,326		62,162
Marin Software, Inc. (a)		4,152		42,516
Marketo, Inc. (a)		3,150		78,340
MDC Partners, Inc., Class A		11,544		208,254
National CineMedia, Inc.		25,974		438,701
QuinStreet, Inc. (a)(b)		14,323		123,607
ReachLocal, Inc. (a)		4,733		58,027
Travelzoo, Inc. (a)(b)		3,607		98,327
Valassis Communications, Inc.		17,706		435,391
ValueClick, Inc. (a)(b)		34,732		857,186
Viad Corp.		9,258		227,006

				3,673,670
Aerospace — 1.3%
AAR Corp.		18,120		398,278
AeroVironment, Inc. (a)		8,377		169,048
API Technologies Corp. (a)		14,894		41,703
Astronics Corp. (a)		5,720		233,776
Cubic Corp.		9,015		433,622
Curtiss-Wright Corp.		21,331		790,527
Ducommun, Inc. (a)		4,782		101,665
Erickson Air-Crane, Inc. (a)		1,723		32,410
Esterline Technologies Corp. (a)		14,246		1,029,843
GenCorp, Inc. (a)		27,638		449,394
Heico Corp.		24,184		1,218,148
Kaman Corp., Class A		12,324		425,917
Kratos Defense & Security Solutions, Inc. (a)		19,861		128,699
LMI Aerospace, Inc. (a)		4,670		87,516
Moog, Inc., Class A (a)(b)		20,640		1,063,579
Orbital Sciences Corp. (a)		27,345		474,983
Teledyne Technologies, Inc. (a)		17,021		1,316,574

				8,395,682
Agriculture, Fishing & Ranching — 0.5%
Alico, Inc.		1,345		53,948
The Andersons, Inc.		8,507		452,487
Cal-Maine Foods, Inc.		6,754		314,129
Calavo Growers, Inc.		5,589		151,965
Fresh Del Monte Produce, Inc.		17,227		480,289
Limoneira Co.		4,532		93,948
Pilgrims Pride Corp. (a)		27,670		413,390
Sanderson Farms, Inc.		10,491		696,812
Seaboard Corp.		134		362,872

				3,019,840
Air Transport — 1.0%
Air Transport Services Group, Inc. (a)		23,730		156,855
Allegiant Travel Co.		6,844		725,396
Atlas Air Worldwide Holdings, Inc. (a)		11,759		514,574
Bristow Group, Inc.		16,465		1,075,494
Era Group, Inc. (a)		9,115		238,357
Hawaiian Holdings, Inc. (a)		23,632		144,391
JetBlue Airways Corp. (a)		105,962		667,561
PHI, Inc. (a)		5,744		197,019
Republic Airways Holdings, Inc. (a)		22,396		253,747
SkyWest, Inc.		23,633		319,991
Spirit Airlines, Inc. (a)		27,464		872,531
US Airways Group, Inc. (a)		74,621		1,225,277

				6,391,193
Alternative Energy — 0.1%
Ameresco, Inc., Class A (a)		8,900		80,189
Amyris, Inc. (a)		12,184		35,212
EnerNOC, Inc. (a)		11,996		159,067
Common Stocks	Shares		Value
Alternative Energy (concluded)
Green Plains Renewable Energy, Inc. (a)		11,523	$	153,486
Rex American Resources Corp. (a)		2,495		71,781
Solazyme, Inc. (a)(b)		21,925		256,961

				756,696
Aluminum — 0.1%
Century Aluminum Co. (a)		23,451		217,625
Kaiser Aluminum Corp.		8,593		532,250
Noranda Aluminum Holding Corp.		15,286		49,374

				799,249
Asset Management & Custodian — 1.2%
Apollo Investment Corp.		102,486		793,242
Arlington Asset Investment Corp.		6,742		180,281
Calamos Asset Management, Inc., Class A		9,076		95,298
Capital Southwest Corp.		1,516		208,950
CIFC Corp. (a)		3,068		23,163
Cohen & Steers, Inc.		8,597		292,126
Cowen Group, Inc., Class A (a)		44,072		127,809
Diamond Hill Investments Group, Inc.		1,276		108,524
Fifth Street Finance Corp.		55,139		576,203
Financial Engines, Inc.		22,292		1,016,292
GAMCO Investors, Inc., Class A		2,749		152,322
Golub Capital BDC, Inc.		15,676		274,330
GSV Capital Corp. (a)		8,776		68,979
Horizon Technology Finance Corp.		3,633		49,917
JMP Group, Inc.		7,232		48,021
KCAP Financial, Inc.		12,867		144,882
Manning & Napier, Inc.		6,222		110,503
MCG Capital Corp.		32,684		170,284
Medley Capital Corp.		13,195		179,188
MVC Capital, Inc.		10,877		136,941
National Financial Partners Corp. (a)		18,297		463,097
New Mountain Finance Corp. (a)		14,169		200,633
NGP Capital Resources Co.		9,623		58,989
Oppenheimer Holdings, Inc.		4,496		85,604
Pzena Investment Management, Inc., Class A		5,122		33,396
Resource America, Inc., Class A		5,628		47,838
Solar Capital Ltd.		20,510		473,576
Solar Senior Capital Ltd.		5,256		96,763
TCP Capital Corp.		11,679		195,857
THL Credit, Inc.		11,854		180,062
TICC Capital Corp.		24,061		231,467
Virtus Investment Partners, Inc. (a)		2,646		466,410
Westwood Holdings Group, Inc.		3,154		135,370
WhiteHorse Finance, Inc.		3,049		48,022
WisdomTree Investments, Inc. (a)		45,730		529,096

				8,003,435
Auto Parts — 0.8%
American Axle & Manufacturing Holdings, Inc. (a)		30,651		571,028
Dana Holding Corp.		66,909		1,288,668
Dorman Products, Inc.		11,491		524,334
Federal-Mogul Corp., Class A (a)		8,408		85,846
Fuel Systems Solutions, Inc. (a)		6,399		114,478
Gentherm, Inc. (a)		15,188		282,041
Meritor, Inc. (a)		44,476		313,556
Remy International, Inc.		6,200		115,134
Standard Motor Products, Inc.		9,050		310,777
Stoneridge, Inc. (a)		12,988		151,180
Superior Industries International, Inc.		10,583		182,134
Tenneco, Inc. (a)		27,711		1,254,754
Tower International, Inc. (a)		2,785		55,115

				5,249,045
Auto Services — 0.2%
Cooper Tire & Rubber Co.		28,858		957,220

See Notes to Financial Statements.



32	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Back Office Support, HR & Consulting — 2.1%
The Advisory Board Co. (a)(b)		16,160	$	883,144
Angie’s List, Inc. (a)		19,244		510,928
Barrett Business Services, Inc.		3,225		168,377
CBIZ, Inc. (a)		17,268		115,868
CDI Corp.		6,361		90,072
Convergys Corp.		47,878		834,513
The Corporate Executive Board Co.		15,318		968,404
CoStar Group, Inc. (a)(b)		12,999		1,677,781
CRA International, Inc. (a)		4,625		85,424
Dice Holdings, Inc. (a)(b)		18,571		171,039
ExlService Holdings, Inc. (a)		14,814		437,902
Forrester Research, Inc.		5,725		210,050
FTI Consulting, Inc. (a)		18,360		603,860
GP Strategies Corp. (a)		6,712		159,880
The Hackett Group, Inc.		11,769		61,081
Heidrick & Struggles International, Inc.		8,233		137,656
Huron Consulting Group, Inc. (a)		10,600		490,144
ICF International, Inc. (a)		8,978		282,897
Innovative Solutions & Support, Inc.		5,524		35,354
Insperity, Inc.		10,237		310,181
Kelly Services, Inc., Class A		12,222		213,518
Kforce, Inc.		12,358		180,427
Korn/Ferry International (a)		22,181		415,672
Liquidity Services, Inc. (a)(b)		11,314		392,256
MAXIMUS, Inc.		15,561		1,158,983
Monster Worldwide, Inc. (a)(b)		53,139		260,912
Navigant Consulting, Inc. (a)		22,978		275,736
On Assignment, Inc. (a)		20,818		556,257
PRGX Global, Inc. (a)		12,885		70,739
Resources Connection, Inc.		18,595		215,702
RPX Corp. (a)		14,696		246,893
ServiceSource International, Inc. (a)		27,782		258,928
SYKES Enterprises, Inc. (a)		17,864		281,537
TeleTech Holdings, Inc. (a)(b)		9,083		212,815
TrueBlue, Inc. (a)		18,559		390,667
WageWorks, Inc. (a)		11,359		391,318

				13,756,915
Banks: Diversified — 7.2%
1st Source Corp.		6,991		166,106
1st United Bancorp, Inc.		13,813		92,823
Access National Corp.		3,424		44,444
Ambac Financial Group, Inc. (a)		20,505		488,634
American National BankShares, Inc.		3,679		85,500
Ameris Bancorp (a)		10,989		185,165
Ames National Corp.		4,224		96,138
Arrow Financial Corp.		4,881		120,805
Bancfirst Corp.		3,235		150,589
Banco Latinoamericana De Comercio Exterior SA		13,339		298,660
The Bancorp, Inc. (a)		15,074		225,959
BancorpSouth, Inc.		43,477		769,543
Bank of Kentucky Financial Corp.		2,826		80,371
Bank of Marin Bancorp		2,514		100,560
Bank of the Ozarks, Inc.		14,209		615,676
Banner Corp.		8,914		301,204
Bar Harbor Bankshares		1,825		66,704
BBCN Bancorp, Inc.		36,117		513,584
BBX Capital Corp. (a)		3,240		41,828
BNC Bancorp		8,047		91,897
Boston Private Financial Holdings, Inc.		36,489		388,243
Bridge Bancorp, Inc.		4,130		92,925
Bridge Capital Holdings (a)		4,387		69,578
Bryn Mawr Bank Corp.		6,139		146,906
C&F Financial Corp.		1,525		84,988
Camden National Corp.		3,545		125,741
Capital City Bank Group, Inc. (a)		5,624		64,845
Capitol Federal Financial, Inc.		67,391		818,127
Common Stocks	Shares		Value
Banks: Diversified (continued)
Cardinal Financial Corp.		13,801	$	202,047
Cascade Bancorp (a)		3,048		18,928
Cathay General Bancorp		36,034		733,292
Center Bancorp, Inc.		5,598		71,039
Centerstate Banks, Inc.		13,926		120,878
Central Pacific Financial Corp. (a)		10,041		180,738
Century Bancorp, Inc., Class A		1,584		55,440
Charter Financial Corp.		10,198		102,796
Chemical Financial Corp.		12,668		329,241
Chemung Financial Corp.		1,521		50,938
Citizens & Northern Corp.		5,753		111,148
City Holding Co.		7,233		281,725
CNB Financial Corp.		5,862		99,302
CoBiz Financial, Inc.		16,409		136,195
Columbia Banking System, Inc.		23,355		556,083
Community Bank System, Inc.		18,334		565,604
Community Trust Bancorp, Inc.		6,490		231,174
CommunityOne Bancorp (a)		4,799		38,920
Crescent Financial Bancshares, Inc. (a)		5,192		22,741
CU Bancorp (a)		4,171		65,902
Customers Bancorp, Inc. (a)		9,000		146,250
CVB Financial Corp.		41,943		493,250
Eagle Bancorp, Inc. (a)		10,191		228,070
Enterprise Bancorp, Inc.		3,231		59,741
Enterprise Financial Services Corp.		8,351		133,282
EverBank Financial Corp.		36,538		605,069
Farmers Capital Bank Corp. (a)		3,346		72,575
Fidelity Southern Corp. (a)		4,745		58,696
Financial Institutions, Inc.		6,392		117,677
First Bancorp, Inc.		4,452		77,821
First Bancorp, North Carolina		8,950		126,195
First Bancorp, Puerto Rico (a)		33,028		233,838
First Busey Corp.		33,632		151,344
First Commonwealth Financial Corp.		44,985		331,539
First Community Bancshares, Inc.		8,283		129,877
First Connecticut Bancorp, Inc.		7,834		109,049
First Financial Bancorp		26,623		396,683
First Financial Bankshares, Inc.		14,436		803,508
First Financial Corp.		5,207		161,365
First Interstate Bancsystem, Inc.		7,949		164,783
First M&F Corp.		3,715		58,734
First Merchants Corp.		13,223		226,774
First Midwest Bancorp, Inc.		34,344		471,200
First NBC Bank Holding Co.		1,885		45,994
The First of Long Island Corp.		3,673		121,907
First Security Group, Inc. (a)		28,323		61,461
FirstMerit Corp.		75,660		1,515,470
Flagstar Bancorp, Inc. (a)		8,965		125,151
FNB Corp.		66,158		799,189
German American Bancorp, Inc.		5,909		133,071
Glacier Bancorp, Inc.		32,940		730,939
Guaranty Bancorp		6,877		78,054
Hampton Roads Bankshares, Inc. (a)		14,526		18,739
Hancock Holding Co.		38,677		1,163,017
Hanmi Financial Corp. (a)		14,480		255,862
Heartland Financial USA, Inc.		6,827		187,674
Heritage Commerce Corp. (a)		9,712		67,984
Heritage Oaks Bancorp (a)		9,523		58,757
Home Bancshares, Inc.		20,694		537,423
Horizon Bancorp		3,902		79,640
Hudson Valley Holding Corp.		7,521		127,707
IBERIABANK Corp.		13,564		727,166
Independent Bank Corp. (b)		10,461		360,904
Independent Bank Group, Inc. (a)		1,703		51,771
International Bancshares Corp.		24,432		551,675
Intervest Bancshares Corp. (a)		7,962		53,186
Investors Bancorp, Inc.		21,161		446,074

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	33

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Banks: Diversified (continued)
Janus Capital Group, Inc.		67,784	$	576,842
Lakeland Bancorp, Inc.		13,847		144,424
Lakeland Financial Corp.		7,585		210,484
LCNB Corp.		2,586		57,823
Macatawa Bank Corp. (a)		10,602		53,434
MainSource Financial Group, Inc.		9,409		126,363
MB Financial, Inc.		25,044		671,179
Mercantile Bank Corp.		4,015		72,150
Merchants Bancshares, Inc.		2,559		75,670
Meridian Interstate Bancorp, Inc. (a)		3,846		72,420
Metro Bancorp, Inc. (a)		6,516		130,515
MetroCorp Bancshares, Inc.		7,377		72,000
Middleburg Financial Corp.		2,525		48,228
Midsouth Bancorp, Inc.		3,879		60,241
NASB Financial, Inc. (a)		1,906		49,880
National Bank Holdings Corp. Class A		23,747		467,816
National Bankshares, Inc.		3,272		116,254
National Penn Bancshares, Inc.		53,611		544,688
NBT Bancorp, Inc.		20,108		425,686
Newbridge Bancorp (a)		11,274		67,531
Northrim Bancorp, Inc.		3,043		73,610
OFG Bancorp		20,885		378,227
Old National Bancorp		46,368		641,269
Pacific Continental Corp.		8,345		98,471
Pacific Premier Bancorp, Inc. (a)		6,817		83,304
PacWest Bancorp		17,374		532,513
Palmetto Bancshares, Inc. (a)		2,000		26,000
Park National Corp.		5,297		364,381
Park Sterling Corp. (a)		20,640		121,982
Peapack-Gladstone Financial Corp.		4,203		73,552
Penns Woods Bancorp, Inc.		1,811		75,808
Peoples Bancorp, Inc.		5,004		105,484
Pinnacle Financial Partners, Inc. (a)(b)		16,026		412,028
Preferred Bank (a)		5,405		89,074
PrivateBancorp, Inc.		29,630		628,452
Prosperity Bancshares, Inc.		27,483		1,423,345
Provident Financial Services, Inc.		27,263		430,210
Renasant Corp.		11,605		282,466
Republic Bancorp, Inc., Class A		4,546		99,648
Rockville Financial, Inc.		12,594		164,730
Roma Financial Corp.		3,414		61,998
S&T Bancorp, Inc.		13,592		266,403
Sandy Spring Bancorp, Inc.		11,395		246,360
SCBT Financial Corp.		7,781		392,085
Seacoast Banking Corp. of Florida (a)		34,002		74,804
Sierra Bancorp		5,669		83,901
Simmons First National Corp., Class A		7,639		199,302
Southside Bancshares, Inc.		8,245		196,891
Southwest Bancorp, Inc. (a)		9,069		119,711
State Bank Financial Corp.		14,650		220,189
StellarOne Corp.		10,460		205,539
Stellus Capital Investment Corp.		5,408		81,390
Sterling Bancorp		14,328		166,491
Sterling Financial Corp.		15,508		368,780
Suffolk Bancorp (a)		5,209		85,115
Sun Bancorp, Inc. (a)		18,630		63,156
Susquehanna Bancshares, Inc.		85,141		1,094,062
SY Bancorp, Inc.		6,343		155,594
Taylor Capital Group, Inc. (a)(b)		7,873		132,975
Texas Capital Bancshares, Inc. (a)		18,624		826,161
Tompkins Trustco, Inc.		6,563		296,582
Towne Bank		12,145		178,774
Trico Bancshares		7,403		157,906
Tristate Capital Holdings, Inc. (a)		2,932		40,315
TrustCo Bank Corp. NY		43,592		237,140
Trustmark Corp.		30,756		755,982
Common Stocks	Shares		Value
Banks: Diversified (concluded)
UMB Financial Corp.		14,846	$	826,477
Umpqua Holdings Corp.		51,142		767,641
Union First Market Bankshares Corp.		9,325		192,002
United Bankshares, Inc.		10,792		285,448
United Community Banks, Inc. (a)		19,699		244,662
United Community Financial Corp. (a)		17,501		81,380
Univest Corp. of Pennsylvania		7,765		148,079
Virginia Commerce Bancorp, Inc. (a)		12,448		173,774
Washington Banking Co.		7,124		101,161
Washington Trust Bancorp, Inc.		6,700		191,084
Webster Financial Corp.		41,129		1,056,193
WesBanco, Inc.		11,911		314,808
West Bancorp., Inc.		7,360		86,480
Westamerica Bancorp		12,386		565,916
Western Alliance Bancorp (a)		33,861		536,020
Wilshire Bancorp, Inc. (b)		28,484		188,564
Wintrust Financial Corp.		16,905		647,123
Yadkin Financial Corp. (a)		6,409		89,982

				47,310,391
Banks: Savings, Thrift & Mortgage Lending — 1.1%
Apollo Residential Mortgage, Inc.		14,591		240,460
Astoria Financial Corp.		40,240		433,787
Bank Mutual Corp.		21,466		121,068
BankFinancial Corp.		9,720		82,620
Beneficial Mutual Bancorp, Inc. (a)		14,641		122,984
Berkshire Hills Bancorp, Inc.		11,493		319,046
BofI Holding, Inc. (a)		5,510		252,468
Brookline Bancorp, Inc.		32,027		277,994
Clifton Savings Bancorp, Inc.		4,083		48,384
Dime Community Bancshares, Inc.		14,562		223,090
Doral Financial Corp. (a)		58,890		48,879
ESB Financial Corp.		5,892		71,470
ESSA Bancorp, Inc.		4,059		44,487
First Defiance Financial Corp.		4,473		100,866
First Federal Bancshares of Arkansas, Inc. (a)		1,552		12,261
First Financial Holdings, Inc.		7,580		160,772
First Financial Northwest, Inc.		7,567		78,016
First Pactrust Bancorp, Inc.		4,975		67,561
Flushing Financial Corp.		14,096		231,879
Fox Chase Bancorp, Inc.		5,688		96,696
Franklin Financial Corp.		4,928		88,753
Great Southern Bancorp, Inc.		4,772		128,653
Heritage Financial Corp.		7,092		103,898
Hingham Institution for Savings		570		38,692
Home Bancorp, Inc. (a)		3,036		56,166
Home Federal Bancorp, Inc.		6,694		85,282
Home Loan Servicing Solutions Ltd. (b)		25,901		620,847
HomeStreet, Inc.		5,830		125,053
Kearny Financial Corp. (a)		6,664		69,905
Northfield Bancorp, Inc.		26,275		307,943
Northwest Bancshares, Inc.		42,795		578,160
OceanFirst Financial Corp.		6,319		98,260
OmniAmerican Bancorp, Inc. (a)		5,259		115,856
Oritani Financial Corp.		20,748		325,329
Provident Financial Holdings, Inc.		4,188		66,505
Provident New York Bancorp		20,126		187,977
Territorial Bancorp, Inc.		4,851		109,681
United Financial Bancorp, Inc.		9,019		136,638
ViewPoint Financial Group, Inc.		18,090		376,453
Waterstone Financial, Inc. (a)		3,377		34,310
Westfield Financial, Inc.		8,863		62,041
WSFS Financial Corp.		3,567		186,875

				6,938,065

See Notes to Financial Statements.



34	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Beverage: Brewers & Distillers — 0.1%
The Boston Beer Co., Inc., Class A (a)(b)		3,749	$	639,729
Craft Brew Alliance, Inc. (a)		4,757		39,198

				678,927
Beverage: Soft Drinks — 0.0%
Coca-Cola Bottling Co. Consolidated		2,108		128,904
Farmer Bros. Co. (a)		2,762		38,834
National Beverage Corp.		5,226		91,298

				259,036
Biotechnology — 3.6%
Accelrys, Inc. (a)		25,485		214,074
Acorda Therapeutics, Inc. (a)		18,476		609,523
Aegerion Pharmaceuticals, Inc. (a)		13,136		832,034
Albany Molecular Research, Inc. (a)		10,527		124,956
Alimera Sciences, Inc. (a)		7,659		37,376
Alnylam Pharmaceuticals, Inc. (a)		26,468		820,773
AMAG Pharmaceuticals, Inc. (a)		9,845		219,051
Amicus Therapeutics, Inc. (a)		13,682		31,879
Arena Pharmaceuticals, Inc. (a)(b)		99,258		764,287
ArQule, Inc. (a)		27,072		62,807
Array Biopharma, Inc. (a)		53,301		241,987
Astex Pharmaceuticals (a)		43,225		177,655
AVEO Pharmaceuticals, Inc. (a)		23,467		58,668
BioDelivery Sciences International, Inc. (a)		13,550		55,013
BioTime, Inc. (a)(b)		16,754		66,346
Cell Therapeutics, Inc. (a)		50,899		53,444
Celldex Therapeutics, Inc. (a)(b)		36,869		575,525
Cepheid, Inc. (a)		30,570		1,052,219
Chelsea Therapeutics International, Inc. (a)		30,405		69,932
ChemoCentryx, Inc. (a)(b)		11,060		156,388
Clovis Oncology, Inc. (a)		6,336		424,385
Cornerstone Therapeutics, Inc. (a)		3,918		31,344
Coronado Biosciences, Inc. (a)		10,029		86,249
Curis, Inc. (a)		36,670		116,977
Cytokinetics, Inc. (a)		11,220		129,815
Cytori Therapeutics, Inc. (a)		28,521		65,598
Dendreon Corp. (a)(b)		71,857		296,051
Durata Therapeutics, Inc. (a)		5,997		43,178
Dyax Corp. (a)(b)		49,886		172,606
Dynavax Technologies Corp. (a)		83,850		92,235
Emergent Biosolutions, Inc. (a)		12,383		178,563
Enzon Pharmaceuticals, Inc.		17,325		34,650
Epizyme, Inc. (a)		2,661		74,854
Exact Sciences Corp. (a)(b)		29,226		406,534
Exelixis, Inc. (a)		83,785		380,384
Fibrocell Science, Inc. (a)		7,438		45,521
Furiex Pharmaceuticals, Inc. (a)		3,048		103,845
Galena Biopharma, Inc. (a)		37,733		83,767
GenMark Diagnostics, Inc. (a)		13,161		136,085
Genomic Health, Inc. (a)		7,596		240,869
Geron Corp. (a)		59,665		89,498
GTx, Inc. (a)		12,035		79,431
Halozyme Therapeutics, Inc. (a)(b)		40,553		321,991
Harvard Bioscience, Inc. (a)		11,576		54,754
Horizon Pharma, Inc. (a)		23,205		57,084
Hyperion Therapeutics, Inc. (a)		3,789		83,358
Idenix Pharmaceuticals, Inc. (a)		45,341		163,681
ImmunoGen, Inc. (a)		38,572		639,910
Immunomedics, Inc. (a)		33,441		181,919
Insmed, Inc. (a)		12,816		153,279
Insys Therapeutics, Inc. (a)		2,306		31,915
Intercept Pharmaceuticals, Inc. (a)		2,842		127,435
InterMune, Inc. (a)		37,223		358,085
KaloBios Pharmaceuticals, Inc. (a)		4,083		23,110
Keryx Biopharmaceuticals, Inc. (a)		37,319		278,773
Lexicon Pharmaceuticals, Inc. (a)(b)		103,334		224,235


Common Stocks	Shares		Value
Biotechnology (concluded)
Ligand Pharmaceuticals, Inc. (a)		8,121	$	303,888
MannKind Corp. (a)(b)		67,789		440,629
Merrimack Pharmaceuticals, Inc. (a)		41,146		276,913
Momenta Pharmaceuticals, Inc. (a)		21,511		323,956
Nanosphere, Inc. (a)		19,034		58,434
Nektar Therapeutics (a)(b)		52,648		608,084
Neurocrine Biosciences, Inc. (a)		30,438		407,260
NewLink Genetics Corp. (a)		7,668		151,213
Novavax, Inc. (a)		61,745		126,577
NPS Pharmaceuticals, Inc. (a)(b)		45,682		689,798
Omeros Corp. (a)(b)		13,553		68,307
OncoGenex Pharmaceutical, Inc. (a)		6,739		66,042
Opko Health, Inc. (a)(b)		64,668		459,143
Orexigen Therapeutics, Inc. (a)		43,075		251,989
Osiris Therapeutics, Inc. (a)		7,599		76,522
Pacific Biosciences of California, Inc. (a)		20,195		50,891
PDL BioPharma, Inc.		63,861		493,007
Peregrine Pharmaceuticals, Inc. (a)		62,245		80,296
Peregrine Semiconductor Corp. (a)		11,910		129,938
Progenics Pharmaceuticals, Inc. (a)		23,123		103,129
Prothena Corp. Plc (a)		5,293		68,333
Puma Biotechnology, Inc. (a)		10,070		446,806
Raptor Pharmaceutical Corp. (a)		25,297		236,527
Regulus Therapeutics, Inc. (a)		4,137		40,584
Repligen Corp. (a)		14,293		117,774
Repros Therapeutics, Inc. (a)		8,519		157,176
Rigel Pharmaceuticals, Inc. (a)(b)		39,648		132,424
Rockwell Medical, Inc. (a)		17,954		64,814
RTI Surgical, Inc. (a)		25,682		96,564
Sangamo Biosciences, Inc. (a)		24,505		191,384
Sarepta Therapeutics, Inc. (a)		14,536		553,095
Sequenom, Inc. (a)(b)		52,587		221,391
Stemline Therapeutics, Inc. (a)		4,138		98,650
Sucampo Pharmaceuticals, Inc., Class A (a)		6,171		40,605
Sunesis Pharmaceuticals, Inc. (a)		14,720		76,691
Symmetry Medical, Inc. (a)		16,994		143,089
Synageva BioPharma Corp. (a)(b)		7,756		325,752
Synergy Pharmaceuticals, Inc. (a)		36,502		157,689
Synta Pharmaceuticals Corp. (a)		18,683		93,228
Targacept, Inc. (a)		12,674		54,118
TESARO, Inc. (a)		6,087		199,288
Threshold Pharmaceuticals, Inc. (a)		21,454		112,848
Trius Therapeutics, Inc. (a)(b)		16,895		137,187
Vanda Pharmaceuticals, Inc. (a)		12,995		105,000
Verastem, Inc. (a)		6,414		89,026
ViroPharma, Inc. (a)(b)		29,752		852,395
West Pharmaceutical Services, Inc.		15,752		1,106,736
Wright Medical Group, Inc. (a)		18,405		482,395
XOMA Corp. (a)		28,758		104,392
ZIOPHARM Oncology, Inc. (a)(b)		31,123		65,358

				23,973,240
Building Materials — 1.0%
Acuity Brands, Inc.		19,523		1,474,377
BlueLinx Holdings, Inc. (a)		15,573		33,482
Builders FirstSource, Inc. (a)		20,498		122,578
Gibraltar Industries, Inc. (a)		13,981		203,563
Griffon Corp.		20,355		228,994
Headwaters, Inc. (a)		33,482		295,981
Louisiana-Pacific Corp. (a)		63,453		938,470
LSI Industries, Inc.		9,619		77,818
NCI Building Systems, Inc. (a)		9,424		144,093
Patrick Industries, Inc. (a)		3,016		62,702
PGT, Inc. (a)		15,100		130,917
Quanex Building Products Corp.		16,919		284,916
Revolution Lighting Technologies, Inc. (a)		13,528		54,112
Simpson Manufacturing Co., Inc.		18,469		543,358

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	35

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Building Materials (concluded)
Texas Industries, Inc. (a)		9,928	$	646,710
Trex Co., Inc. (a)(b)		7,831		371,894
Watsco, Inc.		11,718		983,843

				6,597,808
Building: Climate Control — 0.1%
Aaon, Inc.		8,550		282,834
Comfort Systems USA, Inc.		17,005		253,715
Nortek, Inc. (a)		4,072		262,359

				798,908
Building: Roofing, Wallboard & Plumbing — 0.3%
Beacon Roofing Supply, Inc. (a)(b)		22,173		839,913
USG Corp. (a)		34,661		798,936

				1,638,849
Casinos & Gambling — 0.4%
Ameristar Casinos, Inc.		15,032		395,191
Boyd Gaming Corp. (a)		25,801		291,551
Caesars Entertainment Corp. (a)		16,851		230,859
Isle of Capri Casinos, Inc. (a)		9,686		72,645
Monarch Casino & Resort, Inc. (a)		3,914		65,990
Multimedia Games Holding Co., Inc. (a)		13,174		343,446
Pinnacle Entertainment, Inc. (a)		26,595		523,124
Scientific Games Corp., Class A (a)(b)		21,801		245,261
WMS Industries, Inc. (a)		24,947		636,398

				2,804,465
Cement — 0.0%
US Concrete, Inc. (a)		6,041		99,193
Chemicals: Diversified — 1.2%
Aceto Corp.		12,497		174,083
American Vanguard Corp.		13,017		304,988
Axiall Corp.		31,801		1,354,087
Chemtura Corp. (a)		44,796		909,359
Hawkins, Inc.		4,288		168,904
Innophos Holdings, Inc.		9,997		471,559
KMG Chemicals, Inc.		3,665		77,332
Landec Corp. (a)		11,837		156,367
LSB Industries, Inc. (a)		8,708		264,810
Olin Corp.		36,596		875,376
OM Group, Inc. (a)		14,563		450,288
Omnova Solutions, Inc. (a)		21,445		171,774
Penford Corp. (a)		4,144		55,488
PolyOne Corp.		45,292		1,122,336
Sensient Technologies Corp.		22,813		923,242
Taminco Corp. (a)		7,157		145,931

				7,625,924
Chemicals: Specialty — 0.6%
Balchem Corp.		13,525		605,244
Calgon Carbon Corp. (a)(b)		24,663		411,379
FutureFuel Corp.		9,827		139,248
GSE Holding, Inc. (a)		3,446		19,952
Innospec, Inc.		10,720		430,729
Kraton Performance Polymers, Inc. (a)		14,808		313,930
Polypore International, Inc. (a)		21,226		855,408
Quaker Chemical Corp.		5,994		371,688
Stepan Co.		8,567		476,411
Zep, Inc.		10,311		163,223

				3,787,212
Coal — 0.2%
Arch Coal, Inc.		96,640		365,299
Cloud Peak Energy, Inc. (a)(b)		27,693		456,381
Hallador Energy Co.		3,797		30,566
KiOR, Inc., Class A (a)		19,657		112,241
L&L Energy, Inc. (a)		13,453		48,162
Common Stocks	Shares		Value
Coal (concluded)
Walter Energy, Inc.		28,438	$	295,755
Westmoreland Coal Co. (a)		5,285		59,351

				1,367,755
Commercial Banks — 0.0%
HomeTrust Bancshares, Inc. (a)		9,619		163,138
Commercial Finance & Mortgage Companies — 0.2%
Capital Bank Financial Corp., Class A (a)		11,227		213,201
Federal Agricultural Mortgage Corp., Class B		4,656		134,465
Garrison Capital, Inc.		2,592		39,969
Medallion Financial Corp.		8,474		117,873
Meta Financial Group, Inc.		2,379		62,520
NewStar Financial, Inc. (a)(b)		12,017		160,066
PennantPark Floating Rate Capital Ltd.		4,512		63,800
PennyMac Financial Services, Inc. (a)(c)		5,696		121,154
Walker & Dunlop, Inc. (a)		7,461		130,568

				1,043,616
Commercial Services & Supplies — 0.1%
ARC Document Solutions, Inc. (a)		17,203		68,812
LifeLock, Inc. (a)		27,572		322,868
National Research Corp. (a)		3,826		68,868
National Research Corp. Class B		588		20,545
National Technical Systems, Inc. (a)		2,999		41,956
Performant Financial Corp. (a)		10,098		117,036

				640,085
Commercial Services: Rental & Leasing — 0.5%
Aircastle Ltd.		31,086		497,065
CAI International, Inc. (a)		7,782		183,422
Electro Rent Corp.		8,593		144,277
H&E Equipment Services, Inc.		13,543		285,351
Marlin Business Services, Inc.		3,784		86,200
McGrath RentCorp		11,488		392,430
Mobile Mini, Inc. (a)		17,489		579,760
PHH Corp. (a)		25,993		529,737
TAL International Group, Inc.		15,402		671,065

				3,369,307
Commercial Vehicles & Parts — 0.2%
Accuride Corp. (a)(b)		18,342		92,811
Commercial Vehicle Group, Inc. (a)		10,936		81,583
Miller Industries, Inc.		5,103		78,484
Modine Manufacturing Co. (a)		21,529		234,235
Rush Enterprises, Inc., Class A (a)		15,739		389,540
Spartan Motors, Inc.		15,593		95,429
Wabash National Corp. (a)		31,244		318,064

				1,290,146
Communications Equipment — 0.0%
Ruckus Wireless, Inc. (a)		19,792		253,536
Communications Technology — 2.3%
Adtran, Inc.		27,009		664,692
Alliance Fiber Optic Products, Inc.		2,598		51,934
Anaren, Inc. (a)		5,310		121,811
Anixter International, Inc. (a)		12,346		935,950
Aruba Networks, Inc. (a)(b)		51,936		797,737
Aviat Networks, Inc. (a)		27,927		73,169
Bel Fuse, Inc.		4,511		60,673
Black Box Corp.		7,350		186,102
Calix, Inc. (a)		18,284		184,668
Ciena Corp. (a)(b)		46,258		898,330
Comtech Telecommunications Corp.		7,649		205,682
Cyan, Inc. (a)		3,561		37,213
Datalink Corp. (a)		7,176		76,353
Digi International, Inc. (a)		11,778		110,360
DigitalGlobe, Inc. (a)		33,914		1,051,673

See Notes to Financial Statements.



36	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Communications Technology (concluded)
Emulex Corp. (a)		41,239	$	268,878
Extreme Networks, Inc. (a)		42,445		146,435
Finisar Corp. (a)		42,558		721,358
General Cable Corp.		22,590		694,643
Globecomm Systems, Inc. (a)		10,771		136,146
GSI Technology, Inc. (a)		9,394		59,370
Harmonic, Inc. (a)		51,538		327,266
Infinera Corp. (a)		52,826		563,653
InterDigital, Inc.		18,759		837,589
Ixia (a)		25,691		472,714
KVH Industries, Inc. (a)		7,073		94,142
Loral Space & Communications Ltd.		5,935		355,981
NeoPhotonics Corp. (a)		9,187		79,835
Net Element International, Inc. (a)		900		4,671
NETGEAR, Inc. (a)		17,543		535,763
Numerex Corp., Class A (a)		6,270		69,973
Oplink Communications, Inc. (a)		8,673		150,650
ParkerVision, Inc. (a)		40,287		183,306
PC-Tel, Inc.		8,438		71,554
Plantronics, Inc.		19,723		866,234
Procera Networks, Inc. (a)		9,390		128,925
QLogic Corp. (a)		40,578		387,926
SeaChange International, Inc. (a)		14,825		173,601
Shoretel, Inc. (a)		26,502		106,803
Sonus Networks, Inc. (a)		98,538		296,599
TeleNav, Inc. (a)		7,936		41,505
Tellabs, Inc.		162,122		321,002
Viasat, Inc. (a)		18,017		1,287,495
Westell Technologies, Inc., Class A (a)		20,358		48,656

				14,889,020
Computer Services Software & Systems — 5.9%
ACI Worldwide, Inc. (a)(d)		18,150		843,612
The Active Network, Inc. (a)		24,478		185,298
Actuate Corp. (a)		21,674		143,915
Acxiom Corp. (a)		33,692		764,135
American Software, Inc., Class A		11,086		96,337
Aspen Technology, Inc. (a)		42,704		1,229,448
AVG Technologies NV (a)		10,883		211,674
Avid Technology, Inc. (a)		14,039		82,549
Bankrate, Inc. (a)		21,088		302,824
Bazaarvoice, Inc. (a)		21,777		205,139
Blackbaud, Inc.		20,803		677,554
Blucora, Inc. (a)		18,663		346,012
Bottomline Technologies, Inc. (a)		17,254		436,354
Brightcove, Inc. (a)		12,738		111,585
BroadSoft, Inc. (a)		12,786		352,894
CACI International, Inc., Class A (a)		10,497		666,455
Callidus Software, Inc. (a)		17,152		113,032
Ciber, Inc. (a)		33,825		112,976
CommVault Systems, Inc. (a)		21,171		1,606,667
Computer Task Group, Inc.		7,077		162,559
ComScore, Inc. (a)		16,279		397,045
Cornerstone OnDemand, Inc. (a)(b)		18,380		795,670
CSG Systems International, Inc. (b)		15,438		335,005
DealerTrack Technologies, Inc. (a)(b)		19,830		702,577
Demand Media, Inc. (a)		16,283		97,698
Demandware, Inc. (a)		7,301		309,635
Digimarc Corp.		2,911		60,461
Digital River, Inc. (a)		16,077		301,765
EarthLink, Inc.		46,915		291,342
Ebix, Inc.		14,108		130,640
Envestnet, Inc. (a)(b)		10,297		253,306
EPAM Systems, Inc. (a)		9,934		270,006
EPIQ Systems, Inc.		14,350		193,295
ePlus, Inc.		1,715		102,711
ExactTarget, Inc. (a)		19,478		656,798
Common Stocks	Shares		Value
Computer Services Software & Systems (continued)
Guidance Software, Inc. (a)		7,560	$	66,074
Guidewire Software, Inc. (a)		19,093		802,861
ICG Group, Inc. (a)		17,337		197,642
iGate Corp. (a)		15,808		259,567
Imperva, Inc. (a)		9,182		413,557
Infoblox, Inc. (a)		22,790		666,835
Interactive Intelligence Group, Inc. (a)(b)		7,056		364,090
Internap Network Services Corp. (a)		24,450		202,202
IntraLinks Holdings, Inc. (a)		17,372		126,121
Jive Software, Inc. (a)		18,013		327,296
Keynote Systems, Inc.		7,411		146,441
The KEYW Holding Corp. (a)		14,451		191,476
Limelight Networks, Inc. (a)		24,482		55,085
Lionbridge Technologies, Inc. (a)		26,409		76,586
LivePerson, Inc. (a)(b)		25,146		225,182
LogMeIn, Inc. (a)		11,061		270,552
Manhattan Associates, Inc. (a)(b)		8,874		684,718
Mantech International Corp., Class A		10,760		281,051
Mentor Graphics Corp.		43,447		849,389
Mercury Systems, Inc. (a)(b)		14,715		135,672
MicroStrategy, Inc., Class A (a)		4,116		357,927
Millennial Media, Inc. (a)		16,026		139,586
Mitek Systems, Inc. (a)		10,116		58,471
Moduslink Global Solutions, Inc. (a)		16,791		53,395
Monotype Imaging Holdings, Inc.		17,398		442,083
NetScout Systems, Inc. (a)		16,513		385,413
NIC, Inc.		29,586		489,057
OpenTable, Inc. (a)		10,385		664,121
PDF Solutions, Inc. (a)		11,442		210,876
Pegasystems, Inc.		7,936		262,840
Perficient, Inc. (a)		15,201		202,781
Progress Software Corp. (a)		25,135		578,356
Proofpoint, Inc. (a)		9,914		240,216
PROS Holdings, Inc. (a)		10,263		307,377
PTC, Inc. (a)		54,499		1,336,861
QAD, Inc., Class A		2,721		31,237
QLIK Technologies, Inc. (a)		39,651		1,120,934
RealNetworks, Inc. (a)		10,319		78,012
RealPage, Inc. (a)(b)		21,154		387,964
Reis, Inc. (a)		3,679		68,025
Responsys, Inc. (a)(b)		16,802		240,437
Sapiens International Corp. NV		7,602		43,636
Sapient Corp. (a)		50,326		657,258
SciQuest, Inc. (a)		10,339		258,992
Shutterstock, Inc. (a)(b)		3,370		187,979
Sourcefire, Inc. (a)(b)		14,195		788,532
Spark Networks, Inc. (a)		7,918		66,907
SPS Commerce, Inc. (a)		6,825		375,375
SS&C Technologies Holdings, Inc. (a)		26,497		871,751
Support.com, Inc. (a)		22,899		104,648
Synchronoss Technologies, Inc. (a)(b)		13,266		409,521
SYNNEX Corp. (a)(b)		11,991		506,980
Syntel, Inc.		7,032		442,102
Tangoe, Inc. (a)		14,091		217,424
TechTarget, Inc. (a)		6,576		29,395
TeleCommunication Systems, Inc., Class A (a)		21,028		48,995
Tyler Technologies, Inc. (a)		14,351		983,761
Ultimate Software Group, Inc. (a)(b)		12,597		1,477,502
Unisys Corp. (a)		20,134		444,357
United Online, Inc.		42,229		320,096
Unwired Planet, Inc. (a)		28,985		56,521
VASCO Data Security International, Inc. (a)		13,274		110,307
Verint Systems, Inc. (a)		23,975		850,393
VirnetX Holding Corp. (a)(b)		19,252		384,848
Virtusa Corp. (a)		9,287		205,800
Web.com Group, Inc. (a)(b)		19,075		488,320
Yelp, Inc. (a)		13,551		471,168

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	37

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Computer Services Software & Systems (concluded)
Zillow, Inc. (a)		9,481	$	533,780
Zix Corp. (a)		28,298		119,701

				39,003,388
Computer Technology — 0.4%
Cray, Inc. (a)(b)		18,069		354,875
Imation Corp. (a)		15,176		64,195
Immersion Corp. (a)		12,775		169,269
Insight Enterprises, Inc. (a)(b)		19,803		351,305
Intermec, Inc. (a)		27,591		271,220
PC Connection, Inc.		4,160		64,272
Quantum Corp. (a)		97,252		133,235
Radisys Corp. (a)		10,491		50,462
Safeguard Scientifics, Inc. (a)		9,553		153,326
Silicon Graphics International Corp. (a)		15,448		206,694
STEC, Inc. (a)		15,364		103,246
Super Micro Computer, Inc. (a)		14,421		153,439
Synaptics, Inc. (a)		14,809		571,035

				2,646,573
Construction — 0.5%
Aegion Corp. (a)(b)		17,843		401,646
EMCOR Group, Inc.		30,582		1,243,158
Granite Construction, Inc.		17,694		526,574
Great Lakes Dredge & Dock Corp.		27,177		212,524
Orion Marine Group, Inc. (a)		12,479		150,871
Primoris Services Corp.		16,049		316,486
Sterling Construction Co., Inc. (a)		7,440		67,407
Tutor Perini Corp. (a)		16,833		304,509

				3,223,175
Consumer Electronics — 0.2%
RealD, Inc. (a)		18,496		257,094
Skullcandy, Inc. (a)		8,075		44,090
TiVo, Inc. (a)		57,723		637,839
Universal Electronics, Inc. (a)		6,841		192,437
VOXX International Corp. (a)		8,528		104,639
XO Group, Inc. (a)		12,287		137,614
Zagg, Inc. (a)		13,937		74,563

				1,448,276
Consumer Lending — 0.9%
Cash America International, Inc.		13,007		591,298
Credit Acceptance Corp. (a)		3,249		341,307
Encore Capital Group, Inc. (a)		10,630		351,966
Ezcorp, Inc. (a)		23,198		391,582
First Cash Financial Services, Inc. (a)(b)		13,314		655,182
The First Marblehead Corp. (a)		40,932		48,300
Imperial Holdings, Inc. (a)		7,767		53,204
MGIC Investment Corp. (a)		147,867		897,553
MoneyGram International, Inc. (a)		9,812		222,242
Nelnet, Inc., Class A		10,452		377,213
Netspend Holdings, Inc. (a)		16,016		255,775
Nicholas Financial, Inc.		4,680		70,762
Portfolio Recovery Associates, Inc. (a)(b)		7,708		1,184,180
Regional Management Corp. (a)		2,421		60,525
Tree.com, Inc.		2,968		50,872
World Acceptance Corp. (a)		4,245		369,060

				5,921,021
Consumer Services: Miscellaneous — 0.6%
Chuy’s Holdings, Inc. (a)		7,362		282,259
Core-Mark Holdings Co., Inc.		5,219		331,407
Del Frisco’s Restaurant Group, Inc. (a)		4,813		103,046
Move, Inc. (a)		18,202		233,350
NutriSystem, Inc.		13,105		154,377
Sotheby’s		31,107		1,179,266
Common Stocks	Shares		Value
Consumer Services: Miscellaneous (concluded)
Steiner Leisure Ltd. (a)		6,678	$	352,999
WEX, Inc. (a)(b)		17,675		1,355,672

				3,992,376
Containers & Packaging — 0.3%
AEP Industries, Inc. (a)		1,973		146,771
Berry Plastics Group, Inc. (a)		25,164		555,370
Graphic Packaging Holding Co. (a)		95,257		737,289
Myers Industries, Inc.		12,893		193,524
UFP Technologies, Inc. (a)		2,503		49,009

				1,681,963
Cosmetics — 0.1%
Elizabeth Arden, Inc. (a)		11,671		526,012
Inter Parfums, Inc.		7,482		213,387
Revlon, Inc., Class A (a)		5,191		114,513

				853,912
Diversified Financial Services — 0.7%
Blackhawk Network Holdings, Inc. (a)		5,193		120,478
California First National Bancorp		1,117		18,430
ConnectOne Bancorp, Inc. (a)		789		24,254
DFC Global Corp. (a)		18,469		255,057
Evercore Partners, Inc., Class A		14,401		565,671
FBR & Co. (a)		4,000		101,040
Fidus Investment Corp.		6,259		117,106
Greenhill & Co., Inc.		12,862		588,308
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a)		6,645		78,943
Intersections, Inc.		4,262		37,378
JTH Holding, Inc. Class A (a)		1,983		32,224
Main Street Capital Corp.		15,800		437,502
MidwestOne Financial Group, Inc.		3,156		75,933
Outerwall, Inc. (a)		12,809		751,504
Piper Jaffray Cos. (a)		7,863		248,549
Planet Payment, Inc. (a)		19,100		52,716
Stifel Financial Corp. (a)(b)		28,934		1,032,076
Triangle Capital Corp.		12,592		346,406

				4,883,575
Diversified Manufacturing Operations — 0.5%
A.M. Castle & Co. (a)		7,927		124,930
Barnes Group, Inc.		24,497		734,665
Federal Signal Corp. (a)		28,507		249,436
Lydall, Inc. (a)		7,769		113,427
OSI Systems, Inc. (a)		9,082		585,062
Raven Industries, Inc.		16,570		496,769
Standex International Corp.		5,790		305,423
Trimas Corp. (a)		18,057		673,165

				3,282,877
Diversified Materials & Processing — 0.6%
Belden, Inc.		20,055		1,001,346
Cabot Microelectronics Corp. (a)		10,607		350,137
Clarcor, Inc.		22,631		1,181,565
Encore Wire Corp.		9,339		318,460
Harbinger Group, Inc. (a)		15,036		113,371
Insteel Industries, Inc.		8,240		144,365
Koppers Holdings, Inc.		9,424		359,808
NL Industries, Inc.		3,107		35,109
Tredegar Corp.		11,229		288,585
Uranium Energy Corp. (a)(b)		39,174		70,122

				3,862,868
Diversified Media — 0.1%
Belo Corp., Class A		47,293		659,738
EW Scripps Co. (a)		14,209		221,376
Hemisphere Media Group, Inc. (a)		3,826		52,416

				933,530

See Notes to Financial Statements.



38	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Diversified Retail — 0.5%
The Bon-Ton Stores, Inc.		6,165	$	111,278
Fred’s, Inc., Class A		16,707		258,791
Gordmans Stores, Inc. (a)		3,950		53,759
HSN, Inc.		15,417		828,201
Overstock.com, Inc. (a)		5,118		144,328
PriceSmart, Inc.		8,602		753,793
Saks, Inc. (a)		47,628		649,646
Tuesday Morning Corp. (a)		19,507		202,288
ValueVision Media, Inc., Class A (a)		17,808		90,999
Winmark Corp.		1,017		65,973

				3,159,056
Drug & Grocery Store Chains — 0.8%
Arden Group, Inc., Class A		538		59,390
Casey’s General Stores, Inc.		17,483		1,051,777
Harris Teeter Supermarkets		22,533		1,055,896
Ingles Markets, Inc., Class A		5,741		144,960
Nash Finch Co.		5,572		122,640
The Pantry, Inc. (a)		10,718		130,545
PetMed Express, Inc.		9,236		116,374
Rite Aid Corp. (a)		332,588		951,202
Spartan Stores, Inc.		9,951		183,497
SUPERVALU, Inc.		92,618		576,084
Susser Holdings Corp. (a)(b)		8,210		393,095
Village Super Market, Inc., Class A		2,935		97,119
Weis Markets, Inc.		5,033		226,837

				5,109,416
Education Services — 0.5%
American Public Education, Inc. (a)(b)		8,034		298,544
Bridgepoint Education, Inc. (a)		8,300		101,094
Bright Horizons Family Solutions, Inc. (a)		5,414		187,920
Capella Education Co. (a)		5,048		210,249
Career Education Corp. (a)		24,835		72,022
Corinthian Colleges, Inc. (a)		36,300		81,312
Education Management Corp. (a)		11,123		62,511
Franklin Covey Co. (a)		4,224		56,855
Grand Canyon Education, Inc. (a)(b)		20,669		666,162
HealthStream, Inc. (a)		9,168		232,134
ITT Educational Services, Inc. (a)		10,611		258,908
K12, Inc. (a)		12,385		325,354
Lincoln Educational Services Corp.		11,059		58,281
Rosetta Stone, Inc. (a)		5,297		78,078
Strayer Education, Inc.		4,939		241,171
Universal Technical Institute, Inc.		9,728		100,490

				3,031,085
Electronic Components — 0.6%
Acacia Research Corp.		22,414		500,953
Checkpoint Systems, Inc. (a)		18,706		265,438
InvenSense, Inc. (a)		25,849		397,558
Kemet Corp. (a)		20,479		84,169
Methode Electronics, Inc.		16,918		287,775
Multi-Fineline Electronix, Inc. (a)		3,972		58,825
Neonode, Inc. (a)		11,373		67,669
NVE Corp. (a)		2,212		103,566
Park Electrochemical Corp.		9,499		228,071
Rogers Corp. (a)(b)		7,753		366,872
Sanmina Corp. (a)		37,698		540,966
ScanSource, Inc. (a)		12,679		405,728
Sparton Corp. (a)		4,581		78,976
TTM Technologies, Inc. (a)		24,106		202,490
Universal Display Corp. (a)		18,332		515,313
Viasystems Group, Inc. (a)		1,673		19,290

				4,123,659
Common Stocks	Shares		Value
Electronic Entertainment — 0.1%
DTS, Inc. (a)(b)		8,332	$	171,473
Glu Mobile, Inc. (a)(b)		26,021		57,246
Take-Two Interactive Software, Inc. (a)		36,871		551,959

				780,678
Electronics — 0.4%
Agilysys, Inc. (a)		6,517		73,577
American Science & Engineering, Inc.		3,717		208,152
Coherent, Inc.		11,074		609,845
Daktronics, Inc.		16,738		171,732
II-VI, Inc. (a)		23,255		378,126
iRobot Corp. (a)(b)		12,875		512,039
Newport Corp. (a)		17,800		247,954
Richardson Electronics Ltd.		5,510		64,687
Rofin-Sinar Technologies, Inc. (a)(b)		12,886		321,377

				2,587,489
Energy Equipment — 0.4%
C&J Energy Services, Inc. (a)		20,502		397,124
Capstone Turbine Corp. (a)		138,450		161,986
Dynegy, Inc. (a)		45,393		1,023,612
Enphase Energy, Inc. (a)		7,224		55,842
FuelCell Energy, Inc. (a)		72,536		92,121
Matador Resources Co. (a)		22,409		268,460
PowerSecure International, Inc. (a)		8,573		128,852
Silver Spring Networks, Inc. (a)		2,672		66,640
SunPower Corp. (a)		18,795		389,056
Uni-Pixel, Inc. (a)		4,608		67,784

				2,651,477
Energy Equipment & Services — 0.1%
Geospace Technologies Corp. (a)(b)		5,888		406,743
Pioneer Energy Services Corp. (a)		28,310		187,412

				594,155
Engineering & Contracting Services — 0.5%
Argan, Inc.		6,294		98,186
Dycom Industries, Inc. (a)		15,091		349,206
Engility Holdings, Inc. (a)		7,765		220,681
Exponent, Inc.		6,006		355,015
Furmanite Corp. (a)		17,136		114,640
Layne Christensen Co. (a)(b)		9,011		175,805
Mastec, Inc. (a)(b)		27,065		890,438
Michael Baker Corp.		3,928		106,488
Mistras Group, Inc. (a)		7,248		127,420
MYR Group, Inc. (a)		9,534		185,436
Power Solutions International, Inc. (a)		900		30,231
Tetra Tech, Inc. (a)(b)		29,564		695,050
VSE Corp.		1,841		75,610

				3,424,206
Entertainment — 0.4%
Ascent Capital Group, Inc., Class A (a)		6,437		502,537
Carmike Cinemas, Inc. (a)		8,159		157,958
Live Nation Entertainment, Inc. (a)		64,151		994,340
Navarre Corp. (a)		17,876		49,338
Reading International, Inc., Class A (a)		7,742		49,239
Rentrak Corp. (a)		4,731		94,951
SHFL Entertainment, Inc. (a)		25,686		454,899
Trans World Entertainment Corp.		4,419		21,476
World Wrestling Entertainment, Inc.		12,973		133,752

				2,458,490
Environmental, Maintenance, & Security Service — 0.7%
ABM Industries, Inc.		24,871		609,588
The Brink’s Co.		21,833		556,960
G&K Services, Inc., Class A		8,896		423,449
The Geo Group, Inc.		32,626		1,107,653

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	39

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Environmental, Maintenance, & Security Service (concluded)
Healthcare Services Group, Inc.		31,181	$	764,558
Mac-Gray Corp.		5,559		78,938
Nuverra Environmental Solutions, Inc. (a)(b)		65,164		188,976
Standard Parking Corp. (a)(b)		7,003		150,284
Swisher Hygiene, Inc. (a)		53,444		45,956
Unifirst Corp.		6,667		608,364

				4,534,726
Fertilizers — 0.1%
Intrepid Potash, Inc.		24,842		473,240
Rentech, Inc.		68,542		143,938

				617,178
Financial Data & Systems — 0.7%
Advent Software, Inc. (a)		14,867		521,237
Cardtronics, Inc. (a)		20,436		564,034
Cass Information Systems, Inc.		4,699		216,624
Consumer Portfolio Services, Inc. (a)		7,663		56,246
Euronet Worldwide, Inc. (a)		22,715		723,700
EVERTEC, Inc. (a)		13,422		294,881
Fair Isaac Corp.		16,322		748,037
Global Cash Access, Inc. (a)		30,288		189,603
Green Dot Corp., Class A (a)		11,742		234,253
Heartland Payment Systems, Inc.		16,554		616,636
Higher One Holdings, Inc. (a)		14,220		165,521
Xoom Corp. (a)		3,342		76,599

				4,407,371
Food & Staples Retailing — 0.0%
Fairway Group Holdings Corp. (a)		7,146		172,719
Natural Grocers by Vitamin Cottage, Inc. (a)		4,025		124,775

				297,494
Foods — 1.4%
Annie’s, Inc. (a)		6,216		265,672
B&G Foods, Inc., Class A		24,110		820,945
Boulder Brands, Inc. (a)		27,176		327,471
The Chefs’ Warehouse, Inc. (a)		6,299		108,343
Chiquita Brands International, Inc. (a)		21,189		231,384
Diamond Foods, Inc. (a)(b)		10,133		210,260
Dole Food Co., Inc. (a)		23,311		297,215
The Hain Celestial Group, Inc. (a)		17,499		1,136,910
Inventure Foods, Inc. (a)		6,249		52,242
J&J Snack Foods Corp.		6,816		530,285
John B. Sanfilippo & Son, Inc.		3,680		74,189
Lancaster Colony Corp.		8,444		658,548
Lifeway Foods, Inc.		2,129		36,959
Medifast, Inc. (a)		6,294		162,133
Natures Sunshine Products, Inc.		4,992		81,619
Nutraceutical International Corp.		3,885		79,409
Omega Protein Corp. (a)		9,164		82,293
Post Holdings, Inc. (a)		14,853		648,482
Roundy’s, Inc.		11,435		95,254
Seneca Foods Corp. (a)		3,713		113,915
Snyders-Lance, Inc.		21,618		614,167
Synutra International, Inc. (a)		8,100		41,229
Tootsie Roll Industries, Inc.		8,991		285,734
TreeHouse Foods, Inc. (a)		16,509		1,082,000
United Natural Foods, Inc. (a)		22,463		1,212,777

				9,249,435
Forest Products — 0.1%
Boise Cascade Co. (a)		6,124		155,611
Deltic Timber Corp.		5,043		291,586
Universal Forest Products, Inc.		8,989		358,841

				806,038
Common Stocks	Shares		Value
Forms & Bulk Printing Services — 0.3%
Consolidated Graphics, Inc. (a)		3,308	$	155,509
Deluxe Corp.		23,193		803,637
Ennis, Inc.		11,940		206,443
Innerworkings, Inc. (a)		20,111		218,204
Multi-Color Corp.		5,605		170,056
Quad/Graphics, Inc.		11,368		273,969
Schawk, Inc.		6,017		79,003

				1,906,821
Funeral Parlors & Cemeteries — 0.2%
Carriage Services, Inc.		7,210		122,209
Hillenbrand, Inc.		25,063		594,244
Matthews International Corp., Class A		12,569		473,851
Stewart Enterprises, Inc., Class A		33,097		433,240

				1,623,544
Gas Pipeline — 0.2%
Crosstex Energy, Inc.		21,818		431,124
SemGroup Corp., Class A		19,282		1,038,528

				1,469,652
Glass — 0.1%
Apogee Enterprises, Inc.		13,131		315,144
Gold — 0.2%
Allied Nevada Gold Corp. (a)		46,131		298,929
Coeur Mining, Inc. (a)		45,098		599,804
Gold Resource Corp.		13,751		119,771
Midway Gold Corp. (a)		59,116		55,746

				1,074,250
Health Care Facilities — 0.7%
Amsurg Corp. (a)(b)		14,570		511,407
Assisted Living Concepts, Inc. Class A (a)		8,976		107,353
Capital Senior Living Corp. (a)		13,085		312,731
Emeritus Corp. (a)		18,342		425,168
The Ensign Group, Inc.		8,825		310,816
Five Star Quality Care, Inc. (a)		19,552		109,687
Hanger, Inc. (a)		15,793		499,533
HealthSouth Corp. (a)		39,761		1,145,117
Kindred Healthcare, Inc. (a)		24,635		323,458
National Healthcare Corp.		4,899		234,172
Select Medical Holdings Corp.		22,002		180,416
Skilled Healthcare Group, Inc., Class A (a)		8,984		60,013
US Physical Therapy, Inc.		5,531		152,877
Usmd Holding, Inc. (a)		455		13,463
Vanguard Health Systems, Inc. (a)		15,393		319,251

				4,705,462
Health Care Management Services — 0.7%
Bioscript, Inc. (a)		26,553		438,125
Centene Corp. (a)(b)		24,779		1,299,906
Computer Programs & Systems, Inc.		5,060		248,648
Magellan Health Services, Inc. (a)		12,324		691,130
Molina Healthcare, Inc. (a)		12,918		480,291
Triple-S Management Corp. (a)		10,680		229,300
Universal American Corp.		17,567		156,171
WellCare Health Plans, Inc. (a)		19,795		1,099,612

				4,643,183
Health Care Services — 1.9%
Acadia Healthcare Co., Inc. (a)(b)		16,131		533,452
Accelerate Diagnostics, Inc. (a)		4,669		37,912
Accretive Health, Inc. (a)		26,744		289,103
Addus HomeCare Corp. (a)		2,474		48,837
Air Methods Corp.		17,724		600,489
Alliance HealthCare Services, Inc. (a)		2,235		34,955
Almost Family, Inc.		3,728		70,832
Amedisys, Inc. (a)		14,252		165,608

See Notes to Financial Statements.



40	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Health Care Services (concluded)
AMN Healthcare Services, Inc. (a)		20,955	$	300,076
athenahealth, Inc. (a)		16,735		1,417,789
Chemed Corp.		8,602		623,043
Chindex International, Inc. (a)		5,430		88,075
Corvel Corp. (a)		5,762		168,654
Cross Country Healthcare, Inc. (a)		12,334		63,643
ExamWorks Group, Inc. (a)(b)		13,775		292,443
Gentiva Health Services, Inc. (a)		14,251		141,940
Globus Medical, Inc., Class A (a)		24,812		418,330
Greenway Medical Technologies (a)		6,475		79,902
Healthways, Inc. (a)		15,588		270,919
HMS Holdings Corp. (a)(b)		39,949		930,812
IPC The Hospitalist Co., Inc. (a)(b)		7,647		392,750
LHC Group, Inc. (a)		5,537		108,415
Medidata Solutions, Inc. (a)(b)		12,108		937,765
MiMedx Group, Inc. (a)		38,149		269,332
MWI Veterinary Supply, Inc. (a)		5,826		717,996
NeoGenomics, Inc. (a)		14,623		58,200
Omnicell, Inc. (a)		15,648		321,566
OvaScience, Inc. (a)		3,983		54,687
PharMerica Corp. (a)		13,529		187,512
Quality Systems, Inc.		18,206		340,634
Ryman Hospitality Properties		20,109		784,452
Team Health Holdings, Inc. (a)		31,260		1,283,848
TearLab Corp. (a)		11,627		123,479
Tetraphase Pharmaceuticals, Inc. (a)		5,066		35,614
WebMD Health Corp. (a)		16,020		470,507

				12,663,571
Health Care: Miscellaneous — 0.1%
MedAssets, Inc. (a)		27,708		491,540
The Providence Service Corp. (a)		4,857		141,290

				632,830
Home Building — 0.7%
Beazer Homes USA, Inc. (a)		11,461		200,797
Hovnanian Enterprises, Inc., Class A (a)		49,147		275,715
KB Home		38,113		748,158
M/I Homes, Inc. (a)(b)		11,042		253,524
MDC Holdings, Inc.		17,827		579,556
Meritage Homes Corp. (a)		16,463		713,836
Ryland Group, Inc.		21,020		842,902
Standard-Pacific Corp. (a)		67,524		562,475
Tile Shop Holdings, Inc. (a)		8,374		242,511
TRI Pointe Homes, Inc. (a)		6,787		112,528
William Lyon Homes Class A (a)		6,236		157,209

				4,689,211
Hotel/Motel — 0.2%
Bloomin’ Brands, Inc. (a)		25,151		625,757
Marcus Corp.		8,459		107,599
Morgans Hotel Group Co. (a)		12,062		97,220
Orient Express Hotels Ltd., Class A (a)		43,634		530,589

				1,361,165
Household Appliances — 0.0%
National Presto Industries, Inc.		2,190		157,746
Household Equipment & Products — 0.2%
American Greetings Corp., Class A		14,530		264,737
Blyth, Inc.		4,244		59,246
Central Garden & Pet Co., Class A (a)		18,945		130,720
CSS Industries, Inc.		3,799		94,709
Helen of Troy Ltd. (a)		14,515		556,941
Libbey, Inc. (a)		9,551		228,937
Sears Hometown and Outlet Stores, Inc. (a)		3,932		171,907

				1,507,197
Common Stocks	Shares		Value
Household Furnishings — 0.3%
American Woodmark Corp. (a)		4,542	$	157,607
Bassett Furniture Industries, Inc.		4,960		77,029
Ethan Allen Interiors, Inc.		11,316		325,901
Everyware Global, Inc. (a)		4,453		54,059
Flexsteel Industries, Inc.		2,191		53,417
Hooker Furniture Corp.		4,914		79,902
Kirkland’s, Inc. (a)		6,315		108,934
La-Z-Boy, Inc.		23,868		483,804
Lifetime Brands, Inc.		4,574		62,115
Select Comfort Corp. (a)		25,366		635,672

				2,038,440
Insurance: Life — 0.6%
American Equity Investment Life Holding Co.		29,156		457,749
Citizens, Inc. (a)(b)		19,594		117,172
CNO Financial Group, Inc.		101,119		1,310,502
FBL Financial Group, Inc., Class A		4,061		176,694
Health Insurance Innovations, Inc. (a)		2,025		21,303
Independence Holding Co.		3,607		42,635
Kansas City Life Insurance Co.		1,787		68,388
National Western Life Insurance Co., Class A		987		187,382
The Phoenix Cos., Inc. (a)		2,640		113,520
Primerica, Inc.		25,913		970,183
Symetra Financial Corp.		36,915		590,271

				4,055,799
Insurance: Multi-Line — 0.3%
Crawford & Co., Class B		12,040		67,665
Eastern Insurance Holdings, Inc.		3,040		57,000
eHealth, Inc. (a)		8,907		202,367
Fortegra Financial Corp. (a)		2,890		19,854
Horace Mann Educators Corp.		18,148		442,448
Maiden Holdings Ltd.		22,960		257,611
Pico Holdings, Inc. (a)		10,398		217,942
Platinum Underwriters Holdings Ltd.		14,540		831,979

				2,096,866
Insurance: Property-Casualty — 1.5%
American Safety Insurance Holdings Ltd. (a)		4,368		126,454
Amerisafe, Inc.		8,453		273,793
AmTrust Financial Services, Inc.		12,903		460,637
Argo Group International Holdings Ltd. (b)		12,448		527,679
Baldwin & Lyons, Inc., Class B		4,319		104,865
Donegal Group, Inc., Class A		3,524		49,230
EMC Insurance Group, Inc.		2,160		56,722
Employers Holdings, Inc.		10,430		255,013
Enstar Group Ltd. (a)		4,332		576,069
First American Financial Corp.		49,401		1,088,798
Global Indemnity Plc (a)		4,332		102,019
Greenlight Capital Re Ltd. (a)(b)		12,930		317,173
Hallmark Financial Services, Inc. (a)		6,587		60,205
HCI Group, Inc.		4,228		129,884
Hilltop Holdings, Inc. (a)		28,292		463,989
Infinity Property & Casualty Corp.		5,295		316,429
Investors Title Co.		604		42,848
Meadowbrook Insurance Group, Inc.		22,946		184,256
Montpelier Re Holdings Ltd.		21,207		530,387
National Interstate Corp.		3,052		89,271
Navigators Group, Inc. (a)		4,726		269,571
OneBeacon Insurance Group Ltd.		10,424		150,940
Radian Group, Inc.		78,870		916,469
RLI Corp.		9,766		746,220
Safety Insurance Group, Inc.		5,959		289,071
Selective Insurance Group, Inc.		25,439		585,606
State Auto Financial Corp.		6,963		126,518
Stewart Information Services Corp.		9,752		255,405
Tower Group International Ltd.		26,172		536,788

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	41

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Insurance: Property-Casualty (concluded)
United Fire Group, Inc.		9,442	$	234,445
Universal Insurance Holdings, Inc.		13,486		95,481

				9,962,235
International Trade & Diversified Logistic — 0.0%
Global Sources Ltd. (a)		8,567		57,485
Internet & Catalog Retail — 0.0%
Vitacost.com, Inc. (a)		10,071		85,100
Internet Software & Services — 0.0%
ChannelAdvisor Corp. (a)		2,695		42,392
E2open, Inc. (a)		6,647		116,323
eGain Corp. (a)		5,836		56,142
Global Eagle Entertainment, Inc. (a)		9,700		97,582

				312,439
Leisure Time — 1.0%
Black Diamond, Inc. (a)		10,178		95,673
Callaway Golf Co.		32,193		211,830
Churchill Downs, Inc.		6,247		492,576
International Speedway Corp., Class A		12,684		399,165
Interval Leisure Group, Inc.		17,955		357,664
Johnson Outdoors, Inc. (a)		2,262		56,324
Life Time Fitness, Inc. (a)		19,606		982,457
Marriott Vacations Worldwide Corp. (a)		13,236		572,325
Nautilus, Inc. (a)		14,092		122,459
Orbitz Worldwide, Inc. (a)		11,023		88,515
Pool Corp.		21,228		1,112,559
Smith & Wesson Holding Corp. (a)		29,263		292,045
Speedway Motorsports, Inc.		5,293		92,098
Steinway Musical Instruments, Inc. (a)		3,151		95,885
Sturm Ruger & Co., Inc.		8,827		424,049
Town Sports International Holdings, Inc.		10,847		116,822
Vail Resorts, Inc.		16,358		1,006,344
West Marine, Inc. (a)		7,550		83,050

				6,601,840
Luxury Items — 0.0%
Movado Group, Inc.		8,067		272,907
Machinery: Agricultural — 0.2%
Alamo Group, Inc.		3,212		131,114
Lindsay Corp.		5,861		439,458
Titan International, Inc.		24,397		411,577
Titan Machinery, Inc. (a)		7,810		153,310

				1,135,459
Machinery: Construction & Handling — 0.1%
Astec Industries, Inc.		9,278		318,143
Douglas Dynamics, Inc.		10,162		131,903
NACCO Industries, Inc., Class A		2,270		130,025

				580,071
Machinery: Engines — 0.1%
Briggs & Stratton Corp.		21,968		434,966
Machinery: Industrial — 1.5%
Actuant Corp., Class A		33,335		1,099,055
Altra Holdings, Inc.		12,324		337,431
Applied Industrial Technologies, Inc.		19,201		927,984
Chart Industries, Inc. (a)		13,814		1,299,759
Columbus McKinnon Corp. (a)		8,885		189,428
DXP Enterprises, Inc. (a)(b)		4,308		286,913
EnPro Industries, Inc. (a)		9,501		482,271
The ExOne Co. (a)(b)		2,782		171,705
Flow International Corp. (a)		22,249		82,099
Graham Corp.		4,575		137,387
Hardinge, Inc.		5,356		79,162
Hyster-Yale Materials Handling, Inc.		4,800		301,392
Common Stocks	Shares		Value
Machinery: Industrial (concluded)
John Bean Technologies Corp.		13,207	$	277,479
Kadant, Inc.		5,109		154,139
Manitex International, Inc. (a)		5,473		59,929
Middleby Corp. (a)(b)		8,562		1,456,311
MTS Systems Corp.		7,210		408,086
Omega Flex, Inc.		1,265		18,811
Proto Labs, Inc. (a)		7,765		504,492
Tecumseh Products Co., Class A (a)		8,179		89,396
Tennant Co.		8,390		404,985
Twin Disc, Inc.		3,817		90,463
Woodward, Inc.		31,320		1,252,800

				10,111,477
Machinery: Specialty — 0.1%
Albany International Corp., Class A		12,742		420,231
Hurco Cos., Inc.		2,931		84,325
Xerium Technologies, Inc. (a)		4,894		49,821

				554,377
Manufactured Housing — 0.0%
Cavco Industries, Inc. (a)		3,174		160,128
Medical & Dental Instruments & Supplies — 2.0%
Abiomed, Inc. (a)		17,627		380,038
Align Technology, Inc. (a)(b)		33,327		1,234,432
Alphatec Holdings, Inc. (a)		27,748		56,883
AngioDynamics, Inc. (a)		11,184		126,156
Anika Therapeutics, Inc. (a)		5,505		93,585
Antares Pharma, Inc. (a)		51,262		213,250
AtriCure, Inc. (a)		9,473		89,994
Atrion Corp.		713		155,940
Biolase Inc. (a)		14,365		51,427
Cantel Medical Corp.		9,939		336,634
Cardiovascular Systems, Inc. (a)		9,511		201,633
Cerus Corp. (a)		31,905		141,020
CONMED Corp.		12,634		394,686
CryoLife, Inc.		12,616		78,976
Cutera, Inc. (a)		6,568		57,798
Derma Sciences, Inc. (a)		6,180		82,503
Endologix, Inc. (a)(b)		28,555		379,210
Exactech, Inc. (a)		4,163		82,219
Heartware International, Inc. (a)		7,444		707,999
ICU Medical, Inc. (a)(b)		5,891		424,506
Insulet Corp. (a)(b)		24,329		764,174
Integra LifeSciences Holdings Corp. (a)		9,092		333,040
Invacare Corp.		14,553		208,981
Landauer, Inc.		4,343		209,810
MAKO Surgical Corp. (a)		19,136		230,589
Medical Action Industries, Inc. (a)		6,458		49,727
Meridian Bioscience, Inc.		18,922		406,823
Merit Medical Systems, Inc. (a)		19,370		215,976
Navidea Biopharmaceuticals, Inc. (a)(b)		54,285		144,941
Neogen Corp. (a)		10,897		605,437
NuVasive, Inc. (a)		20,156		499,667
OraSure Technologies, Inc. (a)		25,466		98,808
Orthofix International NV (a)		8,830		237,527
Owens & Minor, Inc.		28,824		975,116
Quidel Corp. (a)		12,814		327,141
Rochester Medical Corp. (a)		4,982		73,385
Staar Surgical Co. (a)		16,802		170,540
Steris Corp.		26,863		1,151,885
SurModics, Inc. (a)		6,567		131,406
Tornier NV (a)		11,755		205,713
Unilife Corp. (a)(b)		41,923		132,896
Utah Medical Products, Inc.		1,508		81,884
Vascular Solutions, Inc. (a)		7,531		110,781
Volcano Corp. (a)(b)		24,861		450,730

				13,105,866

See Notes to Financial Statements.



42	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Medical Equipment — 1.1%
Abaxis, Inc.		10,076	$	478,711
Accuray, Inc. (a)		33,772		193,851
Affymetrix, Inc. (a)		32,391		143,816
Analogic Corp.		5,576		406,100
ArthroCare Corp. (a)		12,843		443,469
Cyberonics, Inc. (a)		12,594		654,384
Cynosure, Inc., Class A (a)		8,273		214,934
DexCom, Inc. (a)(b)		32,207		723,047
Fluidigm Corp. (a)(b)		11,535		201,401
Greatbatch, Inc. (a)(b)		10,891		357,116
Haemonetics Corp. (a)		23,257		961,677
Luminex Corp. (a)(b)		17,033		351,050
Masimo Corp.		22,203		470,704
Merge Healthcare, Inc. (a)		29,628		106,661
Natus Medical, Inc. (a)		13,803		188,411
NxStage Medical, Inc. (a)		27,162		387,873
Solta Medical, Inc. (a)		32,228		73,480
Spectranetic Corp. (a)		18,424		344,160
Thoratec Corp. (a)		26,075		816,408
Zeltiq Aesthetics, Inc. (a)		8,017		51,229

				7,568,482
Medical Services — 0.2%
Bio-Reference Labs, Inc. (a)(b)		11,165		320,994
Parexel International Corp. (a)(b)		25,900		1,189,846

				1,510,840
Metal Fabricating — 0.7%
Ampco-Pittsburgh Corp.		3,846		72,189
Compx International, Inc.		465		6,491
Dynamic Materials Corp.		6,217		102,643
Global Brass & Copper Holdings, Inc. (a)		3,529		46,724
Haynes International, Inc.		5,615		268,790
Kaydon Corp.		14,712		405,316
L.B. Foster Co., Class A		4,592		198,237
Mueller Industries, Inc.		12,759		643,436
Mueller Water Products, Inc., Series A		72,085		498,107
NN, Inc.		7,808		89,089
Northwest Pipe Co. (a)		4,280		119,412
RBC Bearings, Inc. (a)		10,444		542,566
Rexnord Corp. (a)		13,740		231,519
RTI International Metals, Inc. (a)(b)		14,233		394,397
Worthington Industries, Inc.		24,101		764,243

				4,383,159
Metals & Minerals: Diversified — 0.7%
Alpha Natural Resources, Inc. (a)		100,362		525,897
AMCOL International Corp.		12,610		399,611
Commercial Metals Co.		53,019		783,091
General Moly, Inc. (a)		26,549		49,647
Globe Specialty Metals, Inc.		29,230		317,730
Hecla Mining Co.		148,044		441,171
Materion Corp.		9,357		253,481
Minerals Technologies, Inc.		15,874		656,231
Molycorp, Inc. (a)		56,376		349,531
Oil-Dri Corp. of America		2,188		60,104
Paramount Gold and Silver Corp. (a)(b)		56,487		67,220
SunCoke Energy, Inc. (a)		31,845		446,467
United States Lime & Minerals, Inc. (a)		853		44,569
Ur-Energy, Inc. (a)		54,424		72,928
US Silica Holdings, Inc.		9,768		202,979

				4,670,657
Miscellaneous Consumer Staples — 0.1%
Spectrum Brands Holdings, Inc.		9,801		557,383
Common Stocks	Shares		Value
Office Supplies & Equipment — 0.6%
ACCO Brands Corp. (a)		51,749	$	329,123
AT Cross Co., Class A (a)		4,326		73,326
Electronics for Imaging, Inc. (a)		21,154		598,447
Herman Miller, Inc.		26,710		723,040
HNI Corp.		20,730		747,731
Kimball International, Inc., Class B		14,765		143,368
Knoll, Inc.		21,982		312,364
Steelcase, Inc., Class A		38,350		559,143
United Stationers, Inc.		18,420		617,991

				4,104,533
Offshore Drilling & Other Services — 0.1%
Hercules Offshore, Inc. (a)		72,706		511,850
Vantage Drilling Co. (a)		91,091		185,826

				697,676
Oil Well Equipment & Services — 1.4%
Basic Energy Services, Inc. (a)		13,644		164,956
Bolt Technology Corp.		3,955		67,551
Cal Dive International, Inc. (a)(b)		44,398		83,468
Dawson Geophysical Co. (a)		3,668		135,202
Edgen Group, Inc. (a)		7,430		47,403
Exterran Holdings, Inc. (a)		26,242		737,925
Flotek Industries, Inc. (a)		21,787		390,859
Forum Energy Technologies, Inc. (a)		17,864		543,602
Global Geophysical Services, Inc. (a)		10,217		48,224
Gulf Island Fabrication, Inc.		6,577		125,950
Helix Energy Solutions Group, Inc. (a)		48,269		1,112,118
Hornbeck Offshore Services, Inc. (a)(b)		16,307		872,425
ION Geophysical Corp. (a)		60,724		365,558
Key Energy Services, Inc. (a)		69,384		412,835
Lufkin Industries, Inc.		15,456		1,367,392
Matrix Service Co. (a)		11,910		185,558
Mitcham Industries, Inc. (a)		5,844		98,062
Natural Gas Services Group, Inc. (a)		5,650		132,719
Newpark Resources, Inc. (a)		39,334		432,281
Parker Drilling Co. (a)		54,260		270,215
RigNet, Inc. (a)		5,419		138,076
SEACOR Holdings, Inc.		9,103		756,004
Tesco Corp. (a)		13,768		182,426
Tetra Technologies, Inc. (a)(b)		35,706		366,344
TGC Industries, Inc.		6,956		57,178
Willbros Group, Inc. (a)(b)		18,278		112,227

				9,206,558
Oil, Gas & Consumable Fuels — 0.3%
CARBO Ceramics, Inc.		8,996		606,600
Emerald Oil, Inc. (a)		16,597		113,855
EPL Oil & Gas, Inc. (a)		13,610		399,590
Equal Energy Ltd.		15,721		63,513
EXCO Resources, Inc.		61,744		471,724

				1,655,282
Oil: Crude Producers — 1.9%
Abraxas Petroleum Corp. (a)		37,649		79,063
Apco Oil and Gas International, Inc. (a)		4,164		48,011
Approach Resources, Inc. (a)		15,853		389,508
Berry Petroleum Co., Class A		23,994		1,015,426
Bill Barrett Corp. (a)		22,215		449,187
Bonanza Creek Energy, Inc. (a)		13,393		474,916
BPZ Resources, Inc. (a)		53,512		95,786
Callon Petroleum Co. (a)		18,232		61,442
Carrizo Oil & Gas, Inc. (a)		18,393		521,074
Clayton Williams Energy, Inc. (a)		2,678		116,493
Comstock Resources, Inc.		22,006		346,154
Contango Oil & Gas Co.		5,915		199,631
Crimson Exploration, Inc. (a)		9,983		28,152
Diamondback Energy, Inc. (a)		8,118		270,492

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	43

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Oil: Crude Producers (concluded)
Endeavour International Corp. (a)(b)		21,552	$	82,760
Energy XXI Bermuda Ltd.		36,156		801,940
Evolution Petroleum Corp. (a)		7,746		84,509
Forest Oil Corp. (a)(b)		54,452		222,709
FX Energy, Inc. (a)		24,427		78,411
Gastar Exploration Ltd. (a)		27,827		74,298
Goodrich Petroleum Corp. (a)		12,053		154,278
Halcon Resources Corp. (a)(b)		94,194		534,080
Isramco, Inc. (a)		433		40,347
Kodiak Oil & Gas Corp. (a)		120,958		1,075,317
Magnum Hunter Resources Corp. (a)		78,268		285,678
Midstates Petroleum Co., Inc. (a)		14,978		81,031
Northern Oil and Gas, Inc. (a)		29,073		387,834
Panhandle Oil & Gas, Inc.		3,191		90,943
PDC Energy, Inc. (a)		13,829		711,917
Penn Virginia Corp.		25,185		118,369
Petroquest Energy, Inc. (a)		26,106		103,380
Quicksilver Resources, Inc. (a)(b)		56,812		95,444
Resolute Energy Corp. (a)(b)		30,716		245,114
Rex Energy Corp. (a)		20,569		361,603
Rosetta Resources, Inc. (a)		27,832		1,183,417
Sanchez Energy Corp. (a)(b)		12,913		296,482
Stone Energy Corp. (a)		22,766		501,535
Swift Energy Co. (a)		19,732		236,587
Synergy Resources Corp. (a)		18,591		136,086
Triangle Petroleum Corp. (a)		21,010		147,280
Vaalco Energy, Inc. (a)		26,458		151,340
W&T Offshore, Inc.		15,873		226,825
Warren Resources, Inc. (a)		33,144		84,517
ZaZa Energy Corp. (a)		16,434		19,721

				12,709,087
Oil: Integrated — 0.1%
Targa Resources, Inc.		14,965		962,698
Oil: Refining & Marketing — 0.3%
Adams Resources & Energy, Inc.		995		68,546
Alon USA Energy, Inc.		10,704		154,780
Arabian American Development Co. (a)		9,365		81,475
Clean Energy Fuels Corp. (a)		31,259		412,619
Delek US Holdings, Inc.		16,983		488,771
Miller Energy Resources, Inc. (a)		14,001		56,004
Renewable Energy Group, Inc. (a)		9,723		138,358
Western Refining, Inc.		24,832		697,034

				2,097,587
Paints & Coatings — 0.2%
Chase Corp.		2,946		65,872
Ferro Corp. (a)		33,100		230,045
H.B. Fuller Co.		22,918		866,530

				1,162,447
Paper — 0.7%
Boise, Inc.		45,856		391,610
Buckeye Technologies, Inc.		18,497		685,129
Clearwater Paper Corp. (a)		10,083		474,506
Kapstone Paper and Packaging Corp.		18,571		746,183
Neenah Paper, Inc.		7,232		229,761
P.H. Glatfelter Co.		19,483		489,023
Resolute Forest Products (a)		31,656		416,910
Schweitzer-Mauduit International, Inc.		14,263		711,438
Wausau Paper Corp.		22,298		254,197

				4,398,757
Personal Care — 0.1%
Female Health Co.		9,841		97,032
Orchids Paper Products Co.		2,675		70,219
PhotoMedex, Inc. (a)		6,295		100,343
Common Stocks	Shares		Value
Personal Care (concluded)
USANA Health Sciences, Inc. (a)(b)		2,732	$	197,742
WD-40 Co.		7,048		383,975

				849,311
Pharmaceuticals — 1.8%
Acadia Pharmaceuticals, Inc. (a)		31,928		579,493
AcelRx Pharmaceuticals, Inc. (a)		9,488		87,954
Achillion Pharmaceuticals, Inc. (a)		43,886		358,987
Akorn, Inc. (a)(b)		26,547		358,915
American Pacific Corp. (a)		2,648		75,071
Ampio Pharmaceuticals, Inc. (a)(b)		12,532		72,310
Anacor Pharmaceuticals, Inc. (a)		11,483		64,190
Auxilium Pharmaceuticals, Inc. (a)		22,457		373,460
Avanir Pharmaceuticals, Inc. (a)		66,191		304,479
Cadence Pharmaceuticals, Inc. (a)		28,239		192,590
Cambrex Corp. (a)		13,723		191,710
Cempra, Inc. (a)		6,549		51,279
Chimerix, Inc. (a)		3,788		91,821
Corcept Therapeutics, Inc. (a)		23,799		41,172
Depomed, Inc. (a)		25,809		144,788
Enanta Pharmaceuticals, Inc. (a)		1,597		28,283
Endocyte, Inc. (a)(b)		13,883		182,284
Hi-Tech Pharmacal Co., Inc.		5,053		167,760
Impax Laboratories, Inc. (a)(b)		31,197		622,380
Infinity Pharmaceuticals, Inc. (a)		21,799		354,234
Ironwood Pharmaceuticals, Inc. (a)		42,335		421,233
Isis Pharmaceuticals, Inc. (a)(b)		51,166		1,374,830
Lannett Co., Inc. (a)		7,507		89,408
Lifevantage Corp. (a)		48,066		111,513
The Medicines Co. (a)		25,506		784,565
MEI Pharma, Inc. (a)		4,282		30,531
Omthera Pharmaceuticals, Inc. (a)		2,674		35,564
Optimer Pharmaceuticals, Inc. (a)		22,172		320,829
Pacira Pharmaceuticals, Inc. (a)		12,546		363,834
Pernix Therapeutics Holdings, Inc. (a)		7,665		27,671
Portola Pharmaceuticals, Inc. (a)		4,380		107,617
Pozen, Inc. (a)		12,439		62,319
Prestige Brands Holdings, Inc. (a)		23,302		679,020
Questcor Pharmaceuticals, Inc.		23,645		1,074,902
Receptos, Inc. (a)		2,576		51,237
Sagent Pharmaceuticals, Inc. (a)		7,527		157,916
Santarus, Inc. (a)		25,273		531,997
Sciclone Pharmaceuticals, Inc. (a)		24,713		122,576
SIGA Technologies, Inc. (a)(b)		16,693		47,408
Spectrum Pharmaceuticals, Inc.		27,378		204,240
Supernus Pharmaceuticals, Inc. (a)(b)		6,743		43,357
T.G. Theraputics, Inc. (a)		5,687		36,340
TherapeuticsMD, Inc. (a)		35,300		106,959
Vical, Inc. (a)		34,707		108,633
Vivus, Inc. (a)(b)		45,881		577,183
Xenoport, Inc. (a)(b)		19,814		98,079
Zogenix, Inc. (a)		32,415		55,430

				11,968,351
Plastics — 0.1%
A. Schulman, Inc.		13,408		359,603
Ply Gem Holdings, Inc. (a)		7,171		143,850

				503,453
Power Transmission Equipment — 0.3%
Advanced Energy Industries, Inc. (a)		17,900		311,639
Generac Holdings, Inc.		23,486		869,217
Global Power Equipment Group, Inc.		7,739		124,753
Maxwell Technologies, Inc. (a)		13,340		95,381
Powell Industries, Inc. (a)		4,188		216,310
Power-One, Inc. (a)		30,509		192,817
Vicor Corp. (a)		8,107		55,533

				1,865,650

See Notes to Financial Statements.



44	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Precious Metals & Minerals — 0.1%
Horsehead Holding Corp. (a)(b)		20,096	$	257,430
Stillwater Mining Co. (a)		53,831		578,145

				835,575
Printing & Copying Services — 0.1%
Casella Waste Systems, Inc. (a)		17,609		75,895
Cenveo, Inc. (a)		24,389		51,949
VistaPrint NV (a)(b)		14,885		734,872

				862,716
Producer Durables: Miscellaneous — 0.1%
Blount International, Inc. (a)		22,427		265,087
Park-Ohio Holdings Corp. (a)		3,958		130,535

				395,622
Production Technology Equipment — 1.0%
ATMI, Inc. (a)		14,540		343,871
Axcelis Technologies, Inc. (a)		49,144		89,442
Brooks Automation, Inc.		30,338		295,189
Cognex Corp.		19,803		895,492
Cohu, Inc.		11,270		140,875
Electro Scientific Industries, Inc.		10,743		115,595
Entegris, Inc. (a)		63,519		596,443
FEI Co.		17,569		1,282,361
GSI Group, Inc. (a)		13,682		110,003
LTX-Credence Corp. (a)		21,695		129,953
MKS Instruments, Inc.		24,140		640,676
Nanometrics, Inc. (a)(b)		10,531		154,490
Photronics, Inc. (a)		27,716		223,391
Rudolph Technologies, Inc. (a)		14,895		166,824
Tessera Technologies, Inc.		24,049		500,219
Ultra Clean Holdings, Inc. (a)		10,908		65,993
Ultratech, Inc. (a)(b)		12,638		464,067
Veeco Instruments, Inc. (a)		17,845		632,070

				6,846,954
Publishing — 0.4%
AH Belo Corp.		8,361		57,356
Courier Corp.		5,097		72,785
Daily Journal Corp. (a)		417		47,121
Dex Media, Inc. (a)		7,796		136,976
Journal Communications, Inc., Class A (a)		20,004		149,830
Martha Stewart Living Omnimedia, Inc., Class A (a)		13,345		32,161
McClatchy Co., Class A (a)		27,400		62,472
Media General, Inc., Class A (a)		8,861		97,737
Meredith Corp.		16,285		776,794
The New York Times Co., Class A (a)		58,845		650,826
Scholastic Corp.		12,040		352,652

				2,436,710
Radio & TV Broadcasters — 0.4%
Beasley Broadcasting Group, Inc., Class A		1,845		15,461
Central European Media Enterprises Ltd. (a)		34,663		114,734
Crown Media Holdings, Inc., Class A (a)		16,080		39,718
Cumulus Media, Inc., Class A (a)		34,148		115,762
Entercom Communications Corp. (a)(b)		10,951		103,377
Entravision Communications Corp., Class A		25,159		154,728
Fisher Communications, Inc.		4,075		167,401
Gray Television, Inc. (a)		22,856		164,563
Lin TV Corp., Class A (a)		13,013		199,099
Nexstar Broadcasting Group, Inc., Class A		13,373		474,207
Saga Communications, Inc.		2,212		101,553
Salem Communications Corp., Class A		4,676		35,023
Sinclair Broadcast Group, Inc., Class A		31,185		916,215

				2,601,841
Common Stocks	Shares		Value
Railroad Equipment — 0.1%
American Railcar Industries, Inc.		4,318	$	144,696
Freightcar America, Inc.		5,442		92,459
Greenbrier Cos., Inc. (a)(b)		11,110		270,751

				507,906
Real Estate — 0.2%
AV Homes, Inc. (a)		4,333		76,824
Consolidated-Tomoka Land Co.		2,615		99,788
Forestar Group, Inc. (a)		15,814		317,229
Griffin Land & Nurseries, Inc.		1,205		34,367
HFF, Inc., Class A		15,142		269,073
Kennedy-Wilson Holdings, Inc.		23,831		396,548
Market Leader, Inc. (a)		10,894		116,566
Tejon Ranch Co. (a)		6,243		177,863
Thomas Properties Group, Inc.		13,933		73,845

				1,562,103
Real Estate Investment Trusts (REITs) — 7.8%
Acadia Realty Trust (b)		25,053		618,559
AG Mortgage Investment Trust, Inc.		12,642		237,796
Agree Realty Corp.		6,083		179,570
Alexander & Baldwin, Inc. (a)		19,492		774,807
Alexander’s, Inc. (b)		960		281,962
Altisource Residential Corp. (a)		11,266		188,030
American Assets Trust, Inc.		15,316		472,652
American Capital Mortgage Investment Corp.		26,964		484,543
American Realty Capital Properties, Inc.		70,104		1,069,787
American Residential Properties, Inc. (a)		6,123		105,316
AmREIT, Inc., Class B		7,206		139,364
Anworth Mortgage Asset Corp.		66,450		372,120
Apollo Commercial Real Estate Finance, Inc.		16,616		263,862
Ares Commercial Real Estate Corp.		3,179		40,723
Armada Hoffler Properties, Inc.		8,446		99,494
ARMOUR Residential REIT, Inc.		170,678		803,893
Ashford Hospitality Trust, Inc.		23,830		272,853
Associated Estates Realty Corp.		23,019		370,146
Aviv REIT, Inc.		5,188		131,205
Campus Crest Communities, Inc.		29,509		340,534
CapLease, Inc.		40,651		343,094
Capstead Mortgage Corp.		43,674		528,455
Cedar Realty Trust, Inc.		28,186		146,003
Chambers Street Properties		113,071		1,130,710
Chatham Lodging Trust		7,989		137,251
Chesapeake Lodging Trust		22,153		460,561
Colonial Properties Trust		40,409		974,665
Colony Financial, Inc.		29,442		585,601
Coresite Realty Corp.		9,468		301,177
Cousins Properties, Inc.		48,771		492,587
CubeSmart (b)		60,759		970,929
CyrusOne, Inc.		8,725		180,957
CYS Investments, Inc.		79,685		733,899
DCT Industrial Trust, Inc.		132,315		946,052
DiamondRock Hospitality Co. (b)		88,852		828,101
DuPont Fabros Technology, Inc.		28,466		687,454
Dynex Capital Corp.		25,166		256,442
Eastgroup Properties, Inc. (b)		13,802		776,639
Education Realty Trust, Inc.		52,051		532,482
Ellington Residential Mortgage REIT		2,823		50,391
EPR Properties (b)		21,452		1,078,392
Equity One, Inc. (b)		27,339		618,682
Excel Trust, Inc.		21,808		279,360
FelCor Lodging Trust, Inc. (a)		56,703		335,115
First Industrial Realty Trust, Inc. (b)		49,027		743,740
First Potomac Realty Trust		26,641		347,931
Franklin Street Properties Corp.		40,952		540,566
Getty Realty Corp. (b)		11,742		242,472
Gladstone Commercial Corp.		5,613		104,626

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	45

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Real Estate Investment Trusts (REITs) (concluded)
Glimcher Realty Trust (b)		65,773	$	718,241
Government Properties Income Trust (b)		24,824		626,061
Gramercy Property Trust, Inc. (a)		27,071		121,820
Healthcare Realty Trust, Inc. (b)		41,159		1,049,554
Hersha Hospitality Trust		92,020		518,993
Highwoods Properties, Inc. (b)		37,407		1,332,063
Hudson Pacific Properties, Inc.		19,754		420,365
Inland Real Estate Corp.		38,723		395,749
InvesCo. Mortgage Capital, Inc.		61,707		1,021,868
Investors Real Estate Trust		45,956		395,222
iStar Financial, Inc. (a)		38,808		438,142
JAVELIN Mortgage Investment Corp.		6,078		85,639
Kite Realty Group Trust		41,353		249,359
KYTHERA Biopharmaceuticals, Inc. (a)		4,611		124,728
LaSalle Hotel Properties (b)		43,550		1,075,685
Lexington Realty Trust (b)		76,830		897,374
LTC Properties, Inc.		15,864		619,489
Medical Properties Trust, Inc.		68,520		981,206
Monmouth Real Estate Investment Corp., Class A		19,229		189,790
MPG Office Trust, Inc. (a)		26,072		81,866
National Health Investors, Inc. (b)		11,240		672,826
New Residential Investment Corp.		114,833		773,974
New York Mortgage Trust, Inc.		29,088		196,926
NorthStar Realty Finance Corp.		90,473		823,304
One Liberty Properties, Inc.		5,379		118,123
Parkway Properties, Inc.		19,766		331,278
Pebblebrook Hotel Trust		27,963		722,844
Pennsylvania Real Estate Investment Trust		31,051		586,243
PennyMac Mortgage Investment Trust (c)		28,588		601,777
Potlatch Corp.		18,500		748,140
PS Business Parks, Inc.		8,322		600,599
RAIT Financial Trust		31,976		240,460
Ramco-Gershenson Properties Trust		27,299		423,953
Redwood Trust, Inc.		37,398		635,766
Resource Capital Corp. (b)		58,108		357,364
Retail Opportunity Investments Corp.		30,332		421,615
RLJ Lodging Trust		56,380		1,267,986
Rouse Properties, Inc.		10,275		201,596
Sabra Healthcare REIT, Inc.		17,081		445,985
Saul Centers, Inc.		3,522		156,588
Select Income REIT		7,732		216,805
Silver Bay Realty Trust Corp.		7,005		116,003
Sovran Self Storage, Inc.		14,304		926,756
Spirit Realty Capital, Inc.		26,162		463,591
STAG Industrial, Inc.		19,013		379,309
Strategic Hotel Capital, Inc. (a)		82,701		732,731
Summit Hotel Properties, Inc.		29,785		281,468
Sun Communities, Inc.		16,372		814,671
Sunstone Hotel Investors, Inc. (a)		74,226		896,650
Terreno Realty Corp.		8,748		162,100
UMH Properties, Inc.		6,646		68,254
Universal Health Realty Income Trust		5,453		235,188
Urstadt Biddle Properties, Inc., Class A		11,450		230,946
Walter Investment Management Corp. (a)		16,805		568,177
Washington Real Estate Investment Trust (b)		30,345		816,584
Western Asset Mortgage Capital Corp.		10,999		192,043
Whitestone REIT		7,601		119,792
Winthrop Realty Trust		13,334		160,408
ZAIS Financial Corp.		2,535		46,061

				51,699,648
Recreational Vehicles & Boats — 0.4%
Arctic Cat, Inc.		5,996		269,700
Brunswick Corp.		41,216		1,316,851
Drew Industries, Inc.		10,410		409,321
Common Stocks	Shares		Value
Recreational Vehicles & Boats (concluded)
Marine Products Corp.		5,046	$	40,469
Winnebago Industries, Inc. (a)		12,822		269,134

				2,305,475
Rental & Leasing Services: Consumer — 0.2%
Rent-A-Center, Inc.		26,321		988,354
Restaurants — 1.6%
AFC Enterprises, Inc. (a)		10,893		391,494
Biglari Holdings, Inc. (a)		549		225,310
BJ’s Restaurants, Inc. (a)		11,236		416,856
Bob Evans Farms, Inc.		12,698		596,552
Bravo Brio Restaurant Group, Inc. (a)		8,924		159,026
Buffalo Wild Wings, Inc. (a)		8,545		838,777
Carrols Restaurant Group, Inc. (a)		10,590		68,411
CEC Entertainment, Inc.		8,113		332,958
The Cheesecake Factory, Inc.		24,296		1,017,760
Cracker Barrel Old Country Store, Inc.		8,949		847,112
Denny’s Corp. (a)		41,938		235,692
DineEquity, Inc.		7,520		517,902
Diversified Restaurant Holdings, Inc. (a)		4,700		37,412
Einstein Noah Restaurant Group, Inc.		2,873		40,797
Ellie Mae, Inc. (a)		11,983		276,568
Fiesta Restaurant Group, Inc. (a)		9,029		310,507
Ignite Restaurant Group, Inc. (a)		3,241		61,158
Jack in the Box, Inc. (a)		20,257		795,898
Jamba, Inc. (a)		7,653		114,259
Krispy Kreme Doughnuts, Inc. (a)		29,845		520,795
Luby’s, Inc. (a)		9,132		77,165
Nathan’s Famous, Inc. (a)		1,242		64,895
Papa John’s International, Inc. (a)		7,298		477,070
Red Robin Gourmet Burgers, Inc. (a)		6,455		356,187
Ruby Tuesday, Inc. (a)		27,797		256,566
Ruth’s Hospitality Group, Inc.		16,374		197,634
Sonic Corp. (a)(b)		25,615		372,954
Texas Roadhouse, Inc., Class A		28,455		711,944

				10,319,659
Scientific Instruments: Control & Filter — 0.5%
Brady Corp.		21,046		646,744
CIRCOR International, Inc.		8,003		407,033
Energy Recovery, Inc. (a)		20,282		83,765
ESCO Technologies, Inc.		12,038		389,790
The Gorman-Rupp Co.		6,882		219,123
Mine Safety Appliances Co.		12,917		601,286
PMFG, Inc. (a)		9,476		65,574
Sun Hydraulics, Inc.		9,762		305,355
Thermon Group Holdings, Inc. (a)		12,276		250,430
Watts Water Technologies, Inc., Class A		12,996		589,239

				3,558,339
Scientific Instruments: Electrical — 0.6%
American Superconductor Corp. (a)		20,039		52,903
AZZ, Inc.		11,609		447,643
Coleman Cable, Inc.		3,927		70,922
EnerSys		21,921		1,075,006
Franklin Electric Co., Inc.		21,600		726,840
GrafTech International Ltd. (a)		52,987		385,745
Houston Wire & Cable Co.		8,168		113,045
Littelfuse, Inc.		10,067		751,099
Preformed Line Products Co.		1,156		76,654
Taser International, Inc. (a)		23,464		199,913

				3,899,770
Scientific Instruments: Gauges & Meters — 0.3%
Badger Meter, Inc.		6,555		292,025
Faro Technologies, Inc. (a)		7,786		263,322
Itron, Inc. (a)		17,958		761,958

See Notes to Financial Statements.



46	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Scientific Instruments: Gauges & Meters (concluded)
Measurement Specialties, Inc. (a)		7,051	$	328,083
Mesa Laboratories, Inc.		1,185		64,144
Vishay Precision Group, Inc. (a)		5,592		84,663
Zygo Corp. (a)		7,533		119,097

				1,913,292
Scientific Instruments: Pollution Control — 0.3%
ADA-ES, Inc. (a)		4,582		192,994
Ceco Environmental Corp.		4,543		55,879
Darling International, Inc. (a)		53,879		1,005,382
Heritage-Crystal Clean, Inc. (a)		3,918		57,242
Met-Pro Corp.		6,748		90,693
Team, Inc. (a)(b)		9,367		354,541
TRC Cos., Inc. (a)		7,277		50,939
US Ecology, Inc.		8,420		231,045

				2,038,715
Securities Brokerage & Services — 0.4%
BGC Partners, Inc.		57,817		340,542
FXCM, Inc.		16,591		272,258
Gain Capital Holdings, Inc.		5,224		32,964
GFI Group, Inc.		31,905		124,749
Gladstone Investment Corp.		12,189		89,589
International FCStone, Inc. (a)(b)		6,311		110,127
Investment Technology Group, Inc. (a)		16,985		237,450
Knight Capital Group, Inc., Class A (a)		85,286		306,177
Ladenburg Thalmann Financial Services, Inc. (a)		47,161		77,816
MarketAxess Holdings, Inc.		17,099		799,378
SWS Group, Inc. (a)		13,154		71,689

				2,462,739
Semiconductors & Components — 2.3%
Aeroflex Holding Corp. (a)		8,981		70,860
Alpha & Omega Semiconductor Ltd. (a)		7,846		59,943
Amkor Technology, Inc. (a)		29,180		122,848
Anadigics, Inc. (a)		37,661		82,854
Applied Micro Circuits Corp. (a)		30,834		271,339
Audience, Inc. (a)		4,310		56,935
Cavium, Inc. (a)(b)		23,376		826,809
Ceva, Inc. (a)(b)		10,094		195,420
Cirrus Logic, Inc. (a)		28,889		501,513
Cypress Semiconductor Corp.		66,874		717,558
Diodes, Inc. (a)		16,352		424,661
DSP Group, Inc. (a)		9,061		75,297
Entropic Communications, Inc. (a)		40,866		174,498
Exar Corp. (a)		17,429		187,710
Formfactor, Inc. (a)		24,418		164,822
GT Advanced Technologies, Inc. (a)		54,521		226,262
Hittite Microwave Corp. (a)		14,353		832,474
Inphi Corp. (a)		11,815		129,965
Integrated Device Technology, Inc. (a)		60,112		477,289
Integrated Silicon Solutions, Inc. (a)		12,802		140,310
Intermolecular, Inc. (a)		7,730		56,197
International Rectifier Corp. (a)		31,629		662,311
Intersil Corp., Class A		57,993		453,505
IXYS Corp.		11,055		122,268
Kopin Corp. (a)		30,346		112,584
Lattice Semiconductor Corp. (a)		52,779		267,590
M/A-COM Technology Solutions Holdings, Inc. (a)		4,714		68,824
MaxLinear, Inc., Class A (a)		10,479		73,353
Micrel, Inc.		21,297		210,414
Microsemi Corp. (a)		42,273		961,711
Mindspeed Technologies, Inc. (a)		19,567		63,397
Monolithic Power Systems, Inc.		16,719		403,095
MoSys, Inc. (a)		21,228		85,337
Omnivision Technologies, Inc. (a)		24,574		458,305
Pericom Semiconductor Corp. (a)		10,405		74,084
Common Stocks	Shares		Value
Semiconductors & Components (concluded)
PLX Technology, Inc. (a)		20,657	$	98,327
PMC-Sierra, Inc. (a)		92,674		588,480
Power Integrations, Inc.		13,202		535,473
Rambus, Inc. (a)		50,911		437,326
RF Micro Devices, Inc. (a)		128,200		685,870
Rubicon Technology, Inc. (a)(b)		8,094		64,833
Semtech Corp. (a)		30,674		1,074,510
Sigma Designs, Inc. (a)		13,970		70,549
Silicon Image, Inc. (a)		35,267		206,312
Spansion, Inc., Class A (a)		21,549		269,794
SunEdison, Inc. (a)(b)		105,654		863,193
Supertex, Inc.		4,508		107,786
TriQuint Semiconductor, Inc. (a)		74,421		515,738
Volterra Semiconductor Corp. (a)		11,406		161,053

				15,491,586
Semiconductors & Semiconductor Equipment — 0.0%
Ambarella, Inc. (a)		8,403		141,422
Shipping — 0.5%
Frontline Ltd. (a)(b)		23,906		42,314
GasLog Ltd.		11,967		153,178
Gulfmark Offshore, Inc., Class A		12,164		548,475
International Shipholding Corp.		2,471		57,648
Knightsbridge Tankers Ltd.		11,211		82,513
Matson, Inc.		19,365		484,125
Nordic American Tankers Ltd.		29,991		227,032
Scorpio Tankers, Inc.		73,907		663,685
Ship Finance International Ltd.		23,274		345,386
Teekay Tankers Ltd., Class A		28,493		74,936
Ultrapetrol Bahamas Ltd. (a)		9,342		26,625
UTI Worldwide, Inc.		41,179		678,218

				3,384,135
Software — 0.3%
Comverse, Inc. (a)		10,123		301,260
FleetMatics Group Plc (a)		7,428		246,832
Fusion-io, Inc. (a)		34,618		492,960
Model N, Inc. (a)		3,657		85,427
Qualys, Inc. (a)		6,747		108,762
Rally Software Development Corp. (a)		3,119		77,414
Trulia, Inc. (a)		10,908		339,130
Vringo, Inc. (a)		30,410		96,400

				1,748,185
Specialty Retail — 3.4%
1-800-FLOWERS.COM, Inc., Class A (a)		11,769		72,850
America’s Car-Mart, Inc. (a)(b)		3,663		158,388
ANN, Inc. (a)		21,495		713,634
Asbury Automotive Group, Inc. (a)(b)		14,180		568,618
Aéropostale, Inc. (a)		35,770		493,626
Barnes & Noble, Inc. (a)		18,377		293,297
bebe Stores, Inc.		15,899		89,193
Big 5 Sporting Goods Corp.		7,687		168,730
Blue Nile, Inc. (a)(b)		5,651		213,495
Body Central Corp. (a)		7,452		99,261
Brown Shoe Co., Inc.		19,715		424,464
The Buckle, Inc.		12,743		662,891
The Cato Corp., Class A		12,566		313,647
The Children’s Place Retail Stores, Inc. (a)		10,523		576,660
Christopher & Banks Corp. (a)		16,435		110,772
Citi Trends, Inc. (a)		6,996		101,652
Conn’s, Inc. (a)		10,223		529,142
Destination Maternity Corp.		6,181		152,053
Destination XL Group, Inc. (a)(b)		19,233		121,937
Express, Inc. (a)		38,901		815,754
The Finish Line, Inc., Class A		22,433		490,385
Five Below, Inc. (a)		14,924		548,606

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	47

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Specialty Retail (concluded)
Francesca’s Holdings Corp. (a)		20,042	$	556,967
Genesco, Inc. (a)		10,936		732,603
Group 1 Automotive, Inc.		9,899		636,803
Haverty Furniture Cos., Inc.		9,005		207,205
hhgregg, Inc. (a)		5,856		93,520
Hibbett Sports, Inc. (a)		11,837		656,953
Jos. A. Bank Clothiers, Inc. (a)		12,733		526,128
Lithia Motors, Inc., Class A		10,105		538,698
Lumber Liquidators Holdings, Inc. (a)		12,521	��	975,010
MarineMax, Inc. (a)		10,588		119,962
Mattress Firm Holding Corp. (a)		6,106		246,072
The Men’s Wearhouse, Inc.		22,903		866,879
Monro Muffler Brake, Inc.		14,253		684,857
New York & Co. (a)		13,122		83,325
Office Depot, Inc. (a)		112,184		434,152
OfficeMax, Inc.		39,652		405,640
Pacific Sunwear of California, Inc. (a)		20,814		75,971
Penske Automotive Group, Inc.		19,231		587,315
The Pep Boys - Manny, Moe & Jack (a)		24,221		280,479
Pier 1 Imports, Inc.		43,201		1,014,791
RadioShack Corp. (b)		45,456		143,641
Regis Corp.		21,642		355,362
Restoration Hardware Holdings, Inc. (a)		8,051		603,825
Rue21, Inc. (a)		6,689		278,329
Shoe Carnival, Inc.		6,798		163,220
Shutterfly, Inc. (a)		17,304		965,390
Sonic Automotive, Inc.		17,745		375,129
Stage Stores, Inc.		14,914		350,479
Stamps.com, Inc. (a)		5,966		235,001
Stein Mart, Inc.		12,667		172,905
Systemax, Inc.		4,911		46,212
Tilly’s, Inc., Class A (a)		4,434		70,944
Vitamin Shoppe, Inc. (a)(b)		13,814		619,420
The Wet Seal, Inc., Class A (a)		40,663		191,523
Zale Corp. (a)		14,750		134,225
Zumiez, Inc. (a)(b)		9,632		276,920

				22,424,910
Steel — 0.1%
AK Steel Holding Corp. (b)		62,223		189,158
Carbonite, Inc. (a)		5,453		67,563
Handy & Harman Ltd. (a)		2,444		43,699
Olympic Steel, Inc.		4,109		100,670
Schnitzer Steel Industries, Inc., Class A		11,664		272,704
Shiloh Industries, Inc.		2,791		29,138
TMS International Corp., Class A		6,398		94,882
Universal Stainless & Alloy Products, Inc. (a)		3,127		92,184

				889,998
Synthetic Fibers & Chemicals — 0.0%
Zoltek Cos., Inc. (a)		12,558		162,124
Technology: Miscellaneous — 0.3%
Acorn Energy, Inc. (b)		8,237		69,520
Benchmark Electronics, Inc. (a)		24,733		497,134
CTS Corp.		15,294		208,610
Fabrinet (a)		12,837		179,718
Hutchinson Technology, Inc. (a)		10,603		50,152
Pendrell Corp. (a)		73,904		193,629
Plexus Corp. (a)		15,526		464,072
Vocus, Inc. (a)		8,587		90,335

				1,753,170
Telecommunications Equipment — 0.2%
ARRIS Group, Inc. (a)		53,016		760,779
CalAmp Corp. (a)		16,013		233,790
Inteliquent, Inc.		14,839		85,324
Symmetricom, Inc. (a)		18,663		83,797
Common Stocks	Shares		Value
Telecommunications Equipment (concluded)
Tessco Technologies, Inc.		2,487	$	65,657
Ubiquiti Networks, Inc.		5,721		100,346
Vocera Communications, Inc. (a)		9,558		140,503

				1,470,196
Textile Products — 0.1%
Culp, Inc.		3,739		65,021
Interface, Inc.		27,036		458,801
Unifi, Inc. (a)		6,763		139,791

				663,613
Textiles Apparel & Shoes — 1.3%
American Apparel, Inc. (a)		26,122		50,154
Columbia Sportswear Co.		5,853		366,691
Crocs, Inc. (a)		40,154		662,541
Fifth & Pacific Cos., Inc. (a)(b)		54,660		1,221,104
G-III Apparel Group Ltd. (a)		7,645		367,877
Iconix Brand Group, Inc. (a)		25,971		763,807
The Jones Group, Inc.		36,489		501,724
Maidenform Brands, Inc. (a)		10,589		183,507
Oxford Industries, Inc.		6,137		382,949
Perry Ellis International, Inc.		5,602		113,777
Quiksilver, Inc. (a)(b)		60,464		389,388
R.G. Barry Corp.		4,416		71,716
Skechers U.S.A., Inc., Class A (a)		17,601		422,600
Steven Madden Ltd. (a)		18,264		883,612
True Religion Apparel, Inc.		11,891		376,469
Tumi Holdings, Inc. (a)		21,753		522,072
Vera Bradley, Inc. (a)		9,818		212,658
Weyco Group, Inc.		2,938		74,038
Wolverine World Wide, Inc.		22,836		1,247,074

				8,813,758
Tobacco — 0.2%
Alliance One International, Inc. (a)		39,751		151,054
Star Scientific, Inc. (a)(b)		75,625		105,119
Universal Corp.		10,622		614,483
Vector Group Ltd.		27,371		443,957

				1,314,613
Toys — 0.1%
Jakks Pacific, Inc.		8,765		98,606
Leapfrog Enterprises, Inc. (a)		28,964		285,006

				383,612
Transportation Miscellaneous — 0.3%
Echo Global Logistics, Inc. (a)(b)		8,033		156,563
HUB Group, Inc., Class A (a)(b)		16,835		613,131
Odyssey Marine Exploration, Inc. (a)		36,335		107,552
Pacer International, Inc. (a)		16,108		101,641
Textainer Group Holdings Ltd.		9,669		371,676
Wesco Aircraft Holdings, Inc. (a)(b)		18,674		346,776
XPO Logistics, Inc. (a)(b)		8,250		149,243

				1,846,582
Truckers — 0.6%
Arkansas Best Corp.		11,729		269,181
Celadon Group, Inc.		9,175		167,444
Forward Air Corp.		13,725		525,393
Heartland Express, Inc.		21,075		292,310
Knight Transportation, Inc.		26,799		450,759
Marten Transport Ltd.		10,718		167,943
Patriot Transportation Holding, Inc. (a)		2,955		88,768
Quality Distribution, Inc. (a)(b)		9,627		85,103
Roadrunner Transportation Systems, Inc. (a)		8,005		222,859
Saia, Inc. (a)		11,083		332,142
Swift Transportation Co. (a)		38,179		631,481
Universal Truckload Services, Inc. (a)		2,481		59,817

See Notes to Financial Statements.



48	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

Schedule of Investments (continued)

Master Small Cap Index Series

(Percentages shown are based on Net Assets)


Common Stocks	Shares		Value
Truckers (concluded)
Werner Enterprises, Inc.		20,790	$	502,494
YRC Worldwide, Inc. (a)		4,281		123,079

				3,918,773
Utilities: Electrical — 1.8%
Allete, Inc.		18,149		904,728
Atlantic Power Corp.		54,660		215,360
Avista Corp.		27,296		737,538
Black Hills Corp.		20,272		988,260
Cleco Corp.		27,555		1,279,379
El Paso Electric Co.		18,339		647,550
The Empire District Electric Co.		19,479		434,576
Genie Energy Ltd.		5,984		54,754
IDACORP, Inc.		22,887		1,093,083
MGE Energy, Inc.		10,546		577,499
NorthWestern Corp.		17,217		686,958
Otter Tail Corp.		16,551		470,048
Pike Electric Corp.		11,791		145,029
PNM Resources, Inc.		36,296		805,408
Portland General Electric Co.		34,489		1,055,019
UIL Holdings Corp.		23,118		884,264
Unitil Corp.		6,318		182,464
UNS Energy Corp.		18,870		844,055

				12,005,972
Utilities: Gas Distributors — 1.0%
Chesapeake Utilities Corp.		4,403		226,711
Delta Natural Gas Co., Inc.		3,149		66,916
The Laclede Group, Inc.		14,894		680,060
New Jersey Resources Corp.		19,057		791,437
Northwest Natural Gas Co.		12,281		521,697
Piedmont Natural Gas Co.		34,460		1,162,681
South Jersey Industries, Inc.		14,585		837,325
Southwest Gas Corp.		21,118		988,111

WGL Holdings, Inc.	23,574		1,018,868

				6,293,806
Utilities: Miscellaneous — 0.0%
Ormat Technologies, Inc.		8,046		189,242
Utilities: Telecommunications — 0.9%
8x8, Inc. (a)		32,946		271,475
Atlantic Tele-Network, Inc.		4,227		209,913
Boingo Wireless, Inc. (a)		8,322		51,680
Cbeyond, Inc. (a)		12,536		98,282
Cincinnati Bell, Inc. (a)(b)		95,363		291,811
Cogent Communications Group, Inc.		21,521		605,816
Consolidated Communications Holdings, Inc.		18,637		324,470
Fairpoint Communications, Inc. (a)(b)		9,769		81,571
General Communication, Inc., Class A (a)		14,721		115,265
Hawaiian Telcom HoldCo, Inc. (a)(b)		4,835		121,649
HickoryTech Corp.		6,620		70,371
IDT Corp., Class B		7,132		133,297
inContact, Inc. (a)		24,448		200,963
Iridium Communications, Inc. (a)		29,004		225,071
j2 Global, Inc.		20,906		888,714
Leap Wireless International, Inc. (a)		24,615		165,659
Lumos Networks Corp.		7,179		122,761
magicJack VocalTec Ltd. (a)(b)		8,444		119,820
NII Holdings, Inc. (a)		78,247		521,907
NTELOS Holdings Corp.		7,167		117,969
ORBCOMM, Inc. (a)		16,529		74,215
Premiere Global Services, Inc. (a)		21,965		265,117
Primus Telecommunications Group, Inc. (a)		5,606		66,936
Shenandoah Telecom Co.		11,067		184,598
Towerstream Corp. (a)		30,020		76,551
USA Mobility, Inc.		10,022		135,998
Common Stocks	Shares		Value
Utilities: Telecommunications (concluded)
Vonage Holdings Corp. (a)		49,566	$	140,272
West Corp.		9,655		213,762

				5,895,913
Utilities: Water — 0.3%
American States Water Co.		8,800		472,296
Artesian Resources Corp., Class A		3,484		77,624
California Water Service Group		21,826		425,825
Connecticut Water Service, Inc.		4,948		142,008
Consolidated Water Co., Inc.		6,763		77,301
Middlesex Water Co.		7,260		144,619
Pure Cycle Corp. (a)		7,618		42,585
SJW Corp.		7,052		184,762
York Water Co.		5,972		113,647

				1,680,667
Total Common Stocks — 97.2%				640,991,890



Investment Companies
Asset Management & Custodian — 0.3%
BlackRock Kelso Capital Corp. (c)		33,896		317,267
Firsthand Technology Value Fund, Inc. (a)		3,888		77,216
Gladstone Capital Corp.		9,667		78,979
Hercules Technology Growth Capital, Inc.		28,135		392,202
Pennantpark Investment Corp.		30,391		335,820
Prospect Capital Corp.		110,764		1,196,251
Total Investment Companies — 0.3%				2,397,735



Other Interests (e) — 0.0%
Machinery: Industrial — 0.0%
Gerber Scientific, Inc.		12,866		—



Rights — 0.0%
Auto Parts — 0.0%
Federal-Mogul Corp. (Expires 12/27/14) (a)		8,695		1,478



Warrants (f) — 0.0%
Oil: Crude Producers — 0.0%
Magnum Hunter Resources Corp. (Issued 8/31/12, 1 share for 1 warrant, Expires 10/14/13, Strike Price $10.50)		5,700		—
Total Long-Term Investments (Cost – $464,231,976) — 97.5%				643,391,103



Short-Term Securities
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.05% (c)(g)		22,342,449		22,342,449
	Beneficial Interest (000)
BlackRock Liquidity Series, LLC Money Market Series, 0.21% (c)(g)(h)	$	76,754		76,754,416
Total Short-Term Securities (Cost — $99,096,865) — 15.0%				99,096,865
*Total Investments (Cost — $563,328,841) — 112.5%**				742,487,968
Liabilities in Excess of Other Assets — (12.5)%				(82,237,050	)

Net Assets — 100.0%			$	660,250,918

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	49


Schedule of Investments (continued)		Master Small Cap Index Series

Notes to Schedule of investments

As of June 30, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:


Tax cost	$	581,429,921

Gross unrealized appreciation	$	193,754,726
Gross unrealized depreciation		(32,696,679	)

Net unrealized appreciation	$	161,058,047

(a)

Non-income producing security.

(b)

Security, or a portion of security, is on loan.

(c)


Affiliate	Shares/ Beneficial Interest Held at December 31, 2012		Shares/ Beneficial Interest Purchased			Shares Sold			Shares/ Beneficial Interest Held at June 30, 2013		Value at June 30, 2013		Income		Realized Loss
BlackRock Kelso Capital Corp.		24,999		10,688			(1,791	)		33,896	$	317,267	$	15,490	$	(1,010	)
BlackRock Liquidity Funds, Temp Fund, Institutional Class		20,512,415		1,830,034	¹		—			22,342,449	$	22,342,449	$	9,180		—
BlackRock Liquidity Series LLC, Money Market Series	$	36,877,998	$	39,876,418	¹		—		$	76,754,416	$	76,754,416	$	510,502		—
PennyMac Financial Services, Inc.		—		5,696			—			5,696	$	121,154		—		—
PennyMac Mortgage Investment Trust		27,689		899			—			28,588	$	601,777	$	32,592		—

Represents net shares/beneficial interest purchased.

(d)

All or a portion of security has been pledged in connection with open financial futures contracts.

(e)

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

(f)

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

(g)

Represents the current yield as of report date.

(h)

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

Financial futures contracts as of June 30, 2013 were as follows:

Contracts
Purchased

Issue

Exchange

Expiration

Notional
Value

Unrealized
Appreciation

179

Russell 2000 E-Mini

ICE Futures US Indices

September 2013

17,447,130

111,576

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

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

See Notes to Financial Statements.



50	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Schedule of Investments (concluded)		Master Small Cap Index Series

The following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy as of June 30, 2013:


	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments¹	$	643,391,103		—		—	$	643,391,103
Short-Term Securities		22,342,449	$	76,754,416		—		99,096,865

Total	$	665,733,552	$	76,754,416		—	$	742,487,968

¹ See above Schedule of Investments for values in each industry.
	Level 1		Level 2		Level 3		Total
Derivative Financial Instruments²
Assets:
Equity contracts	$	111,576		—		—	$	111,576
² Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

Certain of the Series’ assets and/or liabilities are held at carrying amount, which approximates fair value for financial statement purposes. As of June 30, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:


	Level 1		Level 2			Level 3		Total
Assets:
Cash	$	638,202		—			—	$	638,202
Cash pledged for financial futures contracts		886,000		—			—		886,000
Liabilities:
Collateral on securities loaned at value		—	$	(76,754,416	)		—		(76,754,416	)

Total	$	1,524,202	$	(76,754,416	)		—	$	(75,230,214	)

There were no transfers between levels during the six months ended June 30, 2013.

See Notes to Financial Statements.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	51


Statements of Assets and Liabilities


June 30, 2013 (Unaudited)	Master International Index Series		Master Small Cap Index Series

Assets
Investments at value — unaffiliated¹^,2	$	815,669,615	$	642,350,905
Investments at value — affiliated³		4,365,311		100,137,063
Cash		—		638,202
Cash pledged for financial futures contracts		840,000		886,000
Foreign currency at value⁴		5,547,756		—
Dividends receivable		5,320,486		845,993
Investments sold receivable		38,326		58,170,380
Contributions receivable from investors		462,432		—
Variation margin receivable		185,038		—
Securities lending income receivable — affiliated		—		62,683
Prepaid expenses		965		814

Total assets		832,429,929		803,092,040


Liabilities
Collateral on securities loaned at value		—		76,754,416
Investments purchased payable		—		57,713,478
Unrealized depreciation on foreign currency exchange contracts		12,138		—
Other affiliates payable		7,083		5,236
Investment advisory fees payable		6,827		4,368
Directors’ fees payable		5,288		357
Variation margin payable		—		43,736
Withdrawals payable to investors		—		8,168,415
Other accrued expenses payable		61,253		151,116

Total liabilities		92,589		142,841,122

Net Assets	$	832,337,340	$	660,250,918


Net Assets Consist of
Investors’ capital	$	671,062,911	$	480,980,215
Net unrealized appreciation/depreciation		161,274,429		179,270,703

Net Assets	$	832,337,340	$	660,250,918

¹ Investments at cost — unaffiliated	$	654,241,039	$	463,238,753
² Securities loaned at value		—	$	74,337,068
³ Investments at cost — affiliated	$	4,365,311	$	100,090,088
⁴ Foreign currency at cost	$	5,699,287		—


Statements of Operations


Six Months Ended June 30, 2013 (Unaudited)	Master International Index Series			Master Small Cap Index Series

Investment Income
Dividends — unaffiliated	$	19,017,063		$	3,967,275
Foreign taxes withheld		(1,511,921	)		(6,078	)
Securities lending — affiliated — net		—			510,502
Dividends — affiliated		1,102			57,262

Total income		17,506,244			4,528,961


Expenses
Investment advisory		41,730			32,538
Accounting services		73,605			60,185
Custodian		52,216			73,515
Professional		29,866			31,745
Directors		13,738			8,642
Printing		2,352			1,671
Miscellaneous		5,146			3,681

Total expenses		218,653			211,977
Less fees waived and/or reimbursed by Manager		(894	)		(7,827	)

Total expenses after fees waived and/or reimbursed		217,759			204,150

Net investment income		17,288,485			4,324,811


Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments — unaffiliated		(4,442,906	)		21,663,604
Investments — affiliated		—			(1,010	)
Financial futures contracts		636,951			3,396,796
Foreign currency transactions		(768,351	)		(127	)

		(4,574,306	)		25,059,263

Net change in unrealized appreciation/depreciation on:
Investments		14,038,018			65,332,033
Financial futures contracts		(161,546	)		(306,471	)
Foreign currency translations		(300,486	)		5

		13,575,986			65,025,567

Total realized and unrealized gain		9,001,680			90,084,830

Net Increase in Net Assets Resulting from Operations	$	26,290,165		$	94,409,641


Statements of Changes in Net Assets


	Master International Index Series						Master Small Cap Index Series
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012			Six Months Ended June 30, 2013 (Unaudited)			Year Ended December 31, 2012


Operations
Net investment income	$	17,288,485		$	22,971,640		$	4,324,811		$	10,865,791
Net realized gain (loss)		(4,574,306	)		(61,304,658	)		25,059,263			7,464,862
Net change in unrealized appreciation/depreciation		13,575,986			182,573,315			65,025,567			65,437,618

Net increase in net assets resulting from operations		26,290,165			144,240,297			94,409,641			83,768,271


Capital Transactions
Proceeds from contributions		133,752,779			279,030,661			107,183,969			389,096,894
Value of withdrawals		(85,849,233	)		(520,908,247	)		(123,113,984	)		(420,147,450	)

Net increase (decrease) in net assets derived from capital transactions		47,903,546			(241,877,586	)		(15,930,015	)		(31,050,556	)


Net Assets
Total increase (decrease) in net assets		74,193,711			(97,637,289	)		78,479,626			52,717,715
Beginning of period		758,143,629			855,780,918			581,771,292			529,053,577

End of period	$	832,337,340		$	758,143,629		$	660,250,918		$	581,771,292


Financial Highlights		Master International Index Series


	Six Months Ended June 30, 2013 (Unaudited)		Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)		2012		2011		2010		2009		2008

Total Investment Return
Total investment return		3.42%¹		19.01%		(12.34)%		7.66%		28.99%		(41.94)%


Ratios to Average Net Assets
Total expenses		0.05%²		0.06%		0.08%		0.11%		0.09%		0.11%

Total expenses after fees waived and/or reimbursed		0.05%²		0.06%		0.08%		0.10%		0.09%		0.10%

Net investment income		4.15%²		3.36%		3.38%		2.73%		2.98%		3.54%


Supplemental Data
Net assets, end of period (000)		$832,337		$758,144		$855,781		$922,700		$749,280		$706,119

Portfolio turnover		3%		21%		6%		8%		30%		30%

Master Small Cap Index Series


	Six Months Ended June 30, 2013 (Unaudited)		Year Ended December 31,
	Six Months Ended June 30, 2013 (Unaudited)		2012		2011		2010		2009		2008

Total Investment Return					��
Total investment return		15.99%¹		16.52%		(4.30)%		27.19%		27.37%		(33.57)%


Ratios to Average Net Assets
Total expenses		0.07%²		0.14%		0.09%		0.12%		0.09%		0.08%

Total expenses after fees waived and/or reimbursed and fees paid indirectly		0.06%²		0.08%		0.07%		0.08%		0.07%		0.07%

Net investment income		1.33%²		2.13%		1.46%		1.27%		1.27%		1.60%


Supplemental Data
Net assets, end of period (000)		$660,251		$581,771		$529,054		$338,172		$229,637$		344,720

Portfolio turnover		18%		68%		31%		42%		43%		42%

Aggregate total investment return.

Annualized.


Notes to Financial Statements (Unaudited)		Quantitative Master Series LLC

1. Organization:

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

2. Significant Accounting Policies:

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

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

Equity investments traded on a recognized securities exchange or the NASDAQ Global Market System (“NASDAQ”) are valued at the last reported sale price that day or the NASDAQ official closing price, if applicable. For equity investments traded on more than one exchange, the last reported sale price on the exchange where the stock is primarily traded is used. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last available bid (long positions) or ask (short positions) price. If no bid or ask price is available, the prior day’s price will be used, unless it is determined that such prior day’s price no longer reflects the fair value of the security. Financial futures contracts traded on exchanges are valued at their last sale price. Investments in open-end registered investment companies are valued at NAV each business day. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair value.

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

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

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



56	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Notes to Financial Statements (continued)		Quantitative Master Series LLC

all Fair Value Assets is subsequently reported to the Board or a committee thereof on a quarterly basis.

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

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

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

Segregation and Collateralization: In cases in which the 1940 Act and the interpretive positions of the Securities and Exchange Commission (“SEC”) require that the Series either deliver collateral or segregate assets in connection with certain investments (e.g., financial futures contracts and foreign currency exchange contracts), the Series will, consistent with SEC rules and/or certain interpretive letters issued by the SEC, segregate collateral or designate on its books and records cash or liquid securities having a market value at least equal to the amount that would otherwise be required to be physically segregated. Furthermore, based on requirements and agreements with certain exchanges and third party broker-dealers, a Series engaging in such transactions may have requirements to deliver/deposit securities to/with an exchange or broker-dealer as collateral for certain investments.

Investment Transactions and Investment Income: 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 dates. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Series are 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.

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

The Series file US federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Series’ US federal tax returns remains open for each of the four years ended December 31, 2012. The statutes of limitations on the Series’ state and local tax returns may remain open for an additional year depending upon the jurisdiction. Management does not believe there are any uncertain tax positions that require recognition of a tax liability.

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

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

3. Securities and Other Investments:

Securities Lending: Master Small Cap Index may lend securities to approved borrowers, such as banks, brokers and other financial institutions. The borrower pledges cash, securities issued or guaranteed by the US government or irrevocable letters of credit issued by a bank as collateral. The initial collateral received by Master Small Cap Index should have a value of at least 102% of the current value of the loaned securities for securities traded on US exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter in an amount equal to at least 100% of the current market value of the loaned securities. The market value of the loaned securities is determined at the close of business of Master Small Cap Index and any additional required collateral is delivered to Master Small Cap Index on the next business day. Securities lending income, as disclosed in the Statements of Operations, represents the income earned from the investment of the cash collateral,



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	57


Notes to Financial Statements (continued)		Quantitative Master Series LLC

net of rebates paid to, or fees paid by, borrowers and less the fees paid to the securities lending agent. During the term of the loan, Master Small Cap Index earns dividend or interest income on the securities loaned but does not receive interest income on the 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 securities on loan and the value of the related collateral are shown separately in the Statements of Assets and Liabilities as a component of investments at value, and collateral on securities loaned at value, respectively. The cash collateral invested by the securities lending agent, BlackRock Investment Management, LLC (“BIM”), if any, is disclosed in the Schedule of Investments.

Securities lending transactions are entered into by Master Small Cap Index Series under Master Securities Lending Agreements (“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, Master Small Cap Index, as lender, would offset the market value of the collateral received against the market value of the securities loaned. The value of the collateral is typically greater than that of the market value of the securities loaned, leaving the lender 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 a MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, Master Small Cap Index can reinvest cash collateral, or, upon an event of default, resell or repledge the collateral, and the borrower can resell or repledge the loaned securities.

The following table is a summary of Master Small Cap Index’s open securities lending agreements by counterparty which are subject to offset under a MSLA as of June 30, 2013:


Counterparty	Securities Loaned at Value		Cash Collateral Received¹			Net Amount
Barclays Capital, Inc.	$	746,900	$	(746,900	)		—
BNP Paribas S.A.		147,974		(147,974	)		—
Citigroup Global Markets, Inc.		1,078,035		(1,078,035	)		—
Credit Suisse Securities (USA) LLC		20,211,469		(20,211,469	)		—
Deutsche Bank Securities, Inc.		727,372		(727,372	)		—
Goldman Sachs & Co.		1,285,768		(1,285,768	)		—
J.P. Morgan Securities LLC		1,349,789		(1,349,789	)		—
Merrill Lynch, Pierce, Fenner & Smith Inc.		1,488,545		(1,488,545	)		—
Morgan Stanley		46,228,255		(46,228,255	)		—
SG Americas Securities LLC		301,629		(301,629	)		—
UBS Securities LLC		771,332		(771,332	)		—

Total	$	74,337,068	$	(74,337,068	)		—

Excess of collateral received from the individual counterparty is not shown for financial reporting purposes. Collateral with a value of $76,754,416 has been received in connection with securities lending transactions.

The risks of securities lending also include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate this risk, the Fund benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of securities lent. The Fund also could suffer a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. During the six months ended June 30, 2013, any securities on loan were collateralized by cash.

4. Derivative Financial Instruments:

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

Financial Futures Contracts: The Series purchase and/or sell financial futures contracts and options on financial futures contracts to gain exposure to, or economically hedge against, changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk). Financial futures contracts are agreements between the Series and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and at a specified date. Depending on the terms of the particular contract, financial futures contracts are settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash settlement amount on the settlement date. Upon entering into a financial futures contract, the Series are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Securities deposited as initial margin are designated on the Schedule of Investments and cash deposited is recorded on the Statement of Assets and Liabilities as cash pledged for financial futures contracts. 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 value of the contract. Such receipts or payments are known as variation margin and are recorded by the Series as unrealized appreciation or depreciation. When the contract is closed, the Series record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The use of financial futures contracts involves the risk of an imperfect correlation in the movements in the price of financial futures contracts, interest or foreign currency exchange rates and the underlying assets.

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



58	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Notes to Financial Statements (continued)		Quantitative Master Series LLC

value of a foreign currency exchange contract changes unfavorably due to movements in the value of the referenced foreign currencies.

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


Fair Values of Derivative Financial Instruments as of June 30, 2013
	Derivative Assets
	Statements of Assets and Liabilities Location	Value
		Master International Index		Master Small Cap Index
Equity contracts	Net unrealized appreciation/ depreciation¹	$	81,475	$	111,576


	Derivative Liabilities
	Statement of Assets and Liabilities Location	Value
		Master International Index
Equity contracts	Net unrealized appreciation/ depreciation¹	$	(123,919	)
Foreign currency exchange contracts	Unrealized appreciation on foreign currency exchange contracts		(12,138	)
Total		$	(136,057	)

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


The Effect of Derivative Financial Instruments in the Statements of Operations Six Months Ended June 30, 2013
	Net Realized Gain (Loss) From
	Master International Index	Master Small Cap Index
Equity contracts:
Financial futures contracts	$ 636,951	$	3,396,796
Foreign currency exchange contracts:
Foreign currency transactions	(159,238)		(29	)

Total	$(477,713)	$	3,396,767


	Net Change in Unrealized Appreciation/ Depreciation on
	Master International Index	Master Small Cap Index
Equity contracts:
Financial futures contracts	$(161,546)	$	(306,471	)
Foreign currency exchange contracts:
Foreign currency translations	(12,923)		—

Total	$(174,469)	$	(306,471	)

For the six months ended June 30, 2013, the average quarterly balances of outstanding derivative financial instruments were as follows:


	Master International Index		Master Small Cap Index
Financial futures contracts:
Average number of contracts purchased		187		171
Average notional value of contracts purchased	$	10,742,299	$	16,409,655
Foreign currency exchange contracts:
Average number of contracts – US dollars purchased		2		—
Average number of contracts – US dollars sold		2		—
Average US dollar amounts purchased	$	155,235		—
Average US dollar amounts sold	$	1,050,000		—

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

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

In order to better define its contractual rights and to secure rights that will help the Series mitigate its counterparty risk, the Series may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between the Series and a counterparty that governs OTC derivatives and foreign exchange contracts and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, the Series may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	59


Notes to Financial Statements (continued)		Quantitative Master Series LLC

payment in the event of default (close-out netting) including the bankruptcy or insolvency of the counterparty. However, bankruptcy or

insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. In addition, certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event a Series’ net assets decline by a stated percentage or the Series fails to meet the terms of its ISDA Master Agreements, which would cause the Series to accelerate payment of any net liability owed to the counterparty.

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

Cash collateral that has been pledged to cover obligations of the Series and cash collateral received from the counterparty, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Series, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a party has to exceed a minimum transfer amount threshold (e.g., $500,000) before a transfer is required, which is determined at the close of business of the Series and additional required collateral is delivered to/pledged by the Series on the next business day. To the extent amounts due to the Series from its counterparties are not fully collateralized, contractually or otherwise, the Series bears the risk of loss from counterparty non-performance. The Series attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

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

At June 30, 2013, the Funds’ derivative assets and liabilities (by type) on a gross basis are as follows:


	Master International Index				Master Small Cap Index
	Assets		Liabilities		Assets		Liabilities
Derivative Financial Instruments:
Financial futures contracts	$	185,038		—		—	$	43,736
Foreign currency exchange contracts		—	$	12,138		—		—

Total derivative assets and liabilities in the Statements of Assets and Liabilities		185,038		12,138		—		43,736

Derivatives not subject to a master netting agreement or similar agreement (“MNA”)		185,038		12,138		—		43,736

Total assets and liabilities subject to a MNA		—		—		—		—

5. Investment Advisory Agreement and Other Transactions with Affiliates:

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

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

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

The Manager has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2014 unless approved by the Board, including a majority of the Independent Directors. For the six months ended June 30, 2013, Master Small Cap Index, waived $387, which is included in fees waived and/or reimbursed by Manager in the Statements of Operations.

The Manager voluntarily agreed to waive its investment advisory fees by the amount of investment advisory fees the Series pay to the Manager indirectly through its investment in affiliated money market funds. However, the Manager does not waive its investment advisory fees by the amount of investment advisory fees paid in connection with the Series’ investment in other affiliated investment companies, if any. These amounts are included in fees waived and/or reimbursed by Manager in the Statements of Operations. For the six months ended June 30, 2013, the amounts waived for Master International Index and Master Small Cap Index, were $894 and $7,440, respectively.

The Manager entered into a sub-advisory agreement with BIM, an affiliate of the Manager, with respect to each Series. The Manager pays BIM, for services it provides, a monthly fee that is a percentage of the investment advisory fees paid by the Series to the Manager.

For the six months ended June 30, 2013, Master International Index and Master Small Cap Index reimbursed the Manager $2,538 and $1,703, respectively, for certain accounting services, which are included in accounting services in the Statements of Operations.

The Master LLC, on behalf of Master Small Cap Index, received an exemptive order from the SEC permitting it, among other things, to pay an affiliated securities lending agent a fee based on a share of the income derived from the securities lending activities and has retained



60	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Notes to Financial Statements (continued)		Quantitative Master Series LLC

BIM as the securities lending agent. BIM may, on behalf of the Series, invest cash collateral received by the Series for such loans in a private investment company managed by the Manager or in registered money market funds advised by the Manager or its affiliates. The market value of securities on loan and the value of the related collateral, if applicable, is shown in the Statements of Assets and Liabilities as securities loaned at value and collateral on securities loaned at value, respectively. The cash collateral invested by BIM, if any, is disclosed in the Schedules of Investments. Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of rebates paid to, or fees paid by, borrowers of securities. The Series retain 65% of securities lending income and pay a fee to BIM equal to 35% of such income. The Series benefit from a borrower default indemnity provided by BlackRock. As securities lending agent, BIM bears all operational costs directly related to securities lending as well as the cost of borrower default indemnification. BIM does not receive any fees for managing the cash collateral. The share of income earned by the Series is shown as securities lending — affiliated – net in the Statements of Operations. For the six months ended June 30, 2013, BIM received $278,382 in securities lending agent fees related to securities lending activities for the Series.

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

6. Purchases and Sales:

Purchases and sales of investments, excluding short-term securities, for the six months ended June 30, 2013, were as follows:


	Purchases		Sales
Master International Index	$	100,184,181	$	28,165,619
Master Small Cap Index	$	111,056,215	$	112,689,040

7. Bank Borrowings:

The Series, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $800 million credit agreement with a group of lenders, under which the Series may borrow to fund shareholder redemptions. The agreement expires in April 2014. Excluding commitments designated for a certain individual fund, other Participating Funds, including the Series, can borrow up to an aggregate commitment amount of $500 million, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.065% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) the one-month LIBOR plus 0.80% per annum or (b) the Fed Funds rate plus 0.80% per annum on amounts borrowed. Participating Funds paid administration and arrangement fees, which, along with commitment fees, were allocated among such funds based upon portions of the aggregate commitment available to them and relative net assets of Participating Funds. The Series did not borrow under the credit agreement during the six months ended June 30, 2013.

8. Concentration, Market and Credit Risk:

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

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

Master International Index invests a significant portion of its assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of several European countries, including Greece, Ireland, Italy, Portugal and Spain. As of June 30, 2013, these events have adversely affected the exchange rate of the euro and may continue to spread to other countries in Europe, including countries that do not use the euro. These events may affect the value and liquidity of certain of the Series’ investments.

As of June 30, 2013, Master Small Cap Index invested a significant portion of its assets in securities in the Financials sector. Changes in economic conditions affecting the Financials sector would have a greater impact on the Fund and could affect the value, income and/or liquidity of positions in such securities.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	61


Notes to Financial Statements (concluded)		Quantitative Master Series LLC

As of June 30, 2013, the Series had the following industry classifications:

Master International Index

Industry

Percent of

Long-Term Investments


Commercial Banks	13	%
Pharmaceuticals	9	%
Oil, Gas & Consumable Fuels	6	%
Insurance	5	%
Other¹	67	%

Master Small Cap Index

Industry

Percent of

Long-Term Investments


Real Estate Investment Trusts (“REITs”)	8	%
Banks: Diversified	7	%
Computer Services Software & Systems	6	%
Other¹	79	%

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

9. 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.



62	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements

The Board of Directors of Quantitative Master Series LLC (the “Master LLC”) met in person on April 11, 2013 (the “April Meeting”) and May 21-22, 2013 (the “May Meeting”) to consider the approval of the Master LLC’s investment advisory agreement (the “Advisory Agreement”) with BlackRock Advisors, LLC (the “Manager”), the Master LLC’s investment advisor, on behalf of Master International Index Series and Master Small Cap Index Series (each, a “Master Portfolio” and collectively, the “Master Portfolios”), each a series of the Master LLC. The Board of Directors of the Master LLC also considered the approval of the sub-advisory agreement (the “Sub-Advisory Agreement”) between the Manager and BlackRock Investment Management, LLC (the “Sub-Advisor”) with respect to each Master Portfolio. Each of BlackRock International Index Fund and BlackRock Small Cap Index Fund (each, a “Fund” and collectively, the “Funds”), each a series of BlackRock Index Funds, Inc. (the “Corporation”), is a “feeder” fund that invests all of its investable assets in the corresponding Master Portfolio. Accordingly, the Board of Directors of the Corporation also considered the approval of the Advisory Agreement and the Sub-Advisory Agreement with respect to each Master Portfolio. The Manager and the Sub-Advisor are referred to herein as “BlackRock.” The Advisory Agreement and the Sub-Advisory 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 collectively as the “Board,” and the members are referred to as “Board Members,” and (b) the shareholders of each Fund and the interest holders of each Master Portfolio are referred to as “shareholders.”

Activities and Composition of the Board

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

The Agreements

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

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

The Board has engaged in an ongoing strategic review with BlackRock of opportunities to consolidate funds and of BlackRock’s commitment to investment performance. In addition, the Board requested and BlackRock provided an analysis of fair valuation and stale pricing policies. BlackRock also furnished information to the Board in response to specific questions. These questions covered issues such as BlackRock’s profitability, investment performance and management fee levels. The Board further considered the importance of: (i) organizational and structural variables to investment performance; (ii) rates of portfolio turnover; (iii) BlackRock’s performance accountability for portfolio managers; (iv) marketing support for the funds; (v) services provided to the Master Portfolios and the Funds by BlackRock affiliates; and (vi) BlackRock’s oversight of relationships with third party service providers.

Board Considerations in Approving the Agreements

The Approval Process: Prior to the April Meeting, the Board requested and received materials specifically relating to the Agreements. The Board is engaged in a process with its independent legal counsel and BlackRock to review the nature and scope of the information provided to better assist



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	63


Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements (continued)

its deliberations. The materials provided in connection with the April Meeting included (a) information independently compiled and prepared by Lipper, Inc. (“Lipper”) on fees and expenses of each Master Portfolio and Fund, as applicable, as compared with a peer group of funds as determined by Lipper (“Expense Peers”) and the investment performance of each Fund as compared with a peer group of funds as determined by Lipper,¹ as well as the gross investment performance of each Fund as compared with its benchmark; (b) information on the profits realized by BlackRock and its affiliates pursuant to the 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, ETFs and closed-end funds, under similar investment mandates, as well as the performance of such other clients, as applicable; (d) review of non-management fees; (e) the existence, impact and sharing of potential economies of scale; (f) a summary of aggregate amounts paid by each Master Portfolio and/or Fund to BlackRock; (g) sales and redemption data regarding each Fund’s shares; and (h) if applicable, a comparison of management fees to similar BlackRock open-end funds, as classified by Lipper.

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

At the May Meeting, the Board of the Master LLC, including the Independent Board Members, unanimously approved the continuation of the Advisory Agreement between the Manager and the Master LLC with respect to each Master Portfolio and the Sub-Advisory Agreement between the Manager and the Sub-Advisor with respect to each Master Portfolio, each for a one-year term ending June 30, 2014. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Agreements with respect to each Master Portfolio and found the Agreements to be satisfactory. In approving the continuation of the Agreements, the Board of the Master LLC considered: (a) the nature, extent and quality of the services provided by BlackRock; (b) the investment performance of each Master Portfolio, each Fund and BlackRock; (c) the advisory fee and the cost of the services and profits to be realized by BlackRock and its affiliates from their relationship with the Master Portfolios and the Funds; (d) each Fund’s costs to investors compared to the costs of its Expense Peers and performance compared to the relevant performance comparison as previously discussed; (e) economies of scale; (f) fall-out benefits to BlackRock as a result of its relationship with the Master Portfolios and the Funds; and (g) other factors deemed relevant by the Board Members.

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

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

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

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

Lipper ranks funds in quartiles, ranging from first to fourth, where first is the most desirable quartile position and fourth is the least desirable.



64	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements (continued)

requirements and call center services. The Board reviewed the structure and duties of BlackRock’s fund administration, shareholder services, legal and compliance departments and considered BlackRock’s policies and procedures for assuring compliance with applicable laws and regulations.

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

BlackRock believes that gross performance relative to the benchmark is an appropriate performance metric for each Fund.

The Board noted that BlackRock International Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was within tolerance of its benchmark during the one-year period reported and exceeded its benchmark during the three- and five-year periods reported.

The Board noted that BlackRock Small Cap Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was within tolerance of its benchmark during each of the one-, three- and five-year periods reported.

The Board noted that BlackRock has recently made, and continues to make, changes to the organization of BlackRock’s overall portfolio management structure designed to result in strengthened leadership teams.

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

The Board received and reviewed statements relating to BlackRock’s financial condition. The Board was also provided with a profitability analysis that detailed the revenues earned and the expenses incurred by BlackRock for services provided to the Master Portfolios and the Funds. The Board reviewed BlackRock’s profitability with respect to each Master Portfolio and Fund, as applicable, and other funds the Board currently oversees for the year ended December 31, 2012 compared to available aggregate profitability data provided for the two prior years. The Board reviewed BlackRock’s profitability with respect to certain other fund complexes managed by the Manager and/or its affiliates. The Board reviewed BlackRock’s assumptions and methodology of allocating expenses in the profitability analysis, noting the inherent limitations in allocating costs among various advisory products. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers and expense reimbursements by the Manager, the types of funds managed, precision of expense allocations and business mix. As a result, comparing profitability is difficult.

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

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

The Board noted that Master International Index Series’/BlackRock International Index Fund’s contractual management fee rate ranked in the first quartile relative to the Fund’s Expense Peers.

The Board noted that Master Small Cap Index Series’/BlackRock Small Cap Index Fund’s contractual management fee rate ranked in the second quartile relative to the Fund’s Expense Peers.

The Board also noted that BlackRock has contractually agreed to a cap on each Master Portfolio’s total net operating expenses as a percentage of the Master Portfolio’s average daily net assets and has contractually agreed to a cap on each Fund’s total net operating expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	65


Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements (concluded)

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

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

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

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

Conclusion

The Board of the Master LLC, including the Independent Board Members, unanimously approved the continuation of the Advisory Agreement between the Manager and the Master LLC with respect to each Master Portfolio for a one-year term ending June 30, 2014 and the Sub-Advisory Agreement between the Manager and the Sub-Advisor with respect to each Master Portfolio for a one-year term ending June 30, 2014. Based upon its evaluation of all of the aforementioned factors in their totality, the Board of the Master LLC, including the Independent Board Members, was satisfied that the terms of the Agreements were fair and reasonable and in the best interest of each Master Portfolio and its shareholders. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Agreements with respect to each Master Portfolio and found the Agreements to be satisfactory. In arriving at its decision to approve the Agreements, the Board of the Master LLC did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and different Board Members may have attributed different weights to the various factors considered. The Independent Board Members were also assisted by the advice of independent legal counsel in making this determination. The contractual fee arrangements for the Master Portfolios reflect the results of several years of review by the Board Members and predecessor Board Members, and discussions between such Board Members (and predecessor Board Members) and BlackRock. As a result, the Board Members’ conclusions may be based in part on their consideration of these arrangements in prior years.



66	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Officers and Directors

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

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

Paul L. Audet, Director

David O. Beim, Director

Henry Gabbay, Director

Dr. Matina S. Horner, Director

Herbert I. London, Director

Ian A. MacKinnon, Director

Cynthia A. Montgomery, Director

Joseph P. Platt, Director

Robert C. Robb, Jr., Director

Toby Rosenblatt, Director

Kenneth L. Urish, Director

Frederick W. Winter, Director

John M. Perlowski, President and Chief Executive Officer

Brendan Kyne, Vice President

Neal Andrews, Chief Financial Officer

Jay Fife, Treasurer

Brian Kindelan, Chief Compliance Officer and Anti-Money Laundering Officer

Benjamin Archibald, Secretary

Investment Advisor

BlackRock Advisors, LLC

Wilmington, DE 19809

Sub-Advisor

BlackRock Investment Management, LLC

Princeton, NJ 08540

Custodians

JP Morgan Chase Bank, N.A.¹

Brooklyn, NY 11245

State Street Bank and Trust Company²

Boston, MA 02110

Accounting Agent

State Street Bank and Trust Company

Boston, MA 02110

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Wilmington, DE 19809

Distributor

BlackRock Investments, LLC

New York, NY 10022

Legal Counsel

Sidley Austin LLP

New York, NY 10019

Independent Registered Public Accounting Firm

Deloitte & Touche LLP

Boston, MA 02116

Address of the Funds

100 Bellevue Parkway

Wilmington, DE 19809

For International Index Fund.

For Small Cap Index Fund.



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	67


Additional Information


General Information

Electronic Delivery

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

To enroll:

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

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

Shareholders Who Hold Accounts Directly with BlackRock:

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

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

3)	Log into your account

Householding

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

Availability of Quarterly Schedule of Investments

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

Availability of Proxy Voting Policies and Procedures

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

Availability of Proxy Voting Record

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



68	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013


Additional Information (concluded)


Shareholder Privileges

Account Information

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

Automatic Investment Plans

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

Systematic Withdrawal Plans

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

Retirement Plans

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


BlackRock Privacy Principles

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

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

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

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

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



BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013	69


A World-Class Mutual Fund Family

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


Equity Funds

BlackRock ACWI ex-US Index Fund

BlackRock All-Cap Energy & Resources Portfolio

BlackRock Basic Value Fund

BlackRock Capital Appreciation Fund

BlackRock Commodity Strategies Fund

BlackRock Disciplined Small Cap Core Fund

BlackRock Emerging Markets Fund

BlackRock Emerging Markets Dividend Fund

BlackRock Emerging Markets Long/Short Equity Fund

BlackRock Energy & Resources Portfolio

BlackRock Equity Dividend Fund

BlackRock EuroFund

BlackRock Flexible Equity Fund

BlackRock Focus Growth Fund

BlackRock Global Dividend Income Portfolio

BlackRock Global Long/Short Equity Fund

BlackRock Global Opportunities Portfolio

BlackRock Global SmallCap Fund

BlackRock Health Sciences Opportunities Portfolio

BlackRock India Fund

BlackRock International Fund

BlackRock International Index Fund

BlackRock International Opportunities Portfolio

BlackRock Large Cap Core Fund

BlackRock Large Cap Core Plus Fund

BlackRock Large Cap Growth Fund

BlackRock Large Cap Value Fund

BlackRock Latin America Fund

BlackRock Long-Horizon Equity Fund

BlackRock Mid-Cap Growth Equity Portfolio

BlackRock Mid Cap Value Opportunities Fund

BlackRock Natural Resources Trust

BlackRock Pacific Fund

BlackRock Real Estate Securities Fund

BlackRock Russell 1000 Index Fund

BlackRock Science & Technology Opportunities Portfolio

BlackRock Small Cap Growth Equity Portfolio

BlackRock Small Cap Growth Fund II

BlackRock Small Cap Index Fund

BlackRock S&P 500 Stock Fund

BlackRock U.S. Opportunities Portfolio

BlackRock Value Opportunities Fund

BlackRock World Gold Fund


Taxable Fixed Income Funds

BlackRock Bond Index Fund

BlackRock Core Bond Portfolio

BlackRock CoreAlpha Bond Fund

BlackRock Emerging Market Local Debt Portfolio

BlackRock Floating Rate Income Portfolio

BlackRock Global Long/Short Credit Fund

BlackRock GNMA Portfolio

BlackRock High Yield Bond Portfolio

BlackRock Inflation Protected Bond Portfolio

BlackRock International Bond Portfolio

BlackRock Investment Grade Bond Portfolio

BlackRock Low Duration Bond Portfolio

BlackRock Secured Credit Portfolio

BlackRock Short Obligations Fund

BlackRock Short-Term Treasury Fund

BlackRock Strategic Income Opportunities Portfolio

BlackRock Total Return Fund

BlackRock U.S. Government Bond Portfolio

BlackRock U.S. Mortgage Portfolio

BlackRock Ultra-Short Obligations Fund

BlackRock World Income Fund


Municipal Fixed Income Funds

BlackRock California Municipal Bond Fund

BlackRock High Yield Municipal Fund

BlackRock Intermediate Municipal Fund

BlackRock National Municipal Fund

BlackRock New Jersey Municipal Bond Fund

BlackRock New York Municipal Bond Fund

BlackRock Pennsylvania Municipal Bond Fund

BlackRock Short-Term Municipal Fund


Mixed Asset Funds


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

BlackRock Prepared Portfolios	LifePath Portfolios
Conservative Prepared Portfolio		Retirement	2040
Moderate Prepared Portfolio		2020	2045
Growth Prepared Portfolio		2025	2050
Aggressive Growth Prepared Portfolio		2030	2055
		2035

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



70	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2013

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

LOGO


Index2-6/13-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’ Schedules of Investments are 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

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


BlackRock Index Funds, Inc. and Quantitative Master Series LLC

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

Date: August 29, 2013

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



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

Date: August 29, 2013



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

Date: August 29, 2013

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC.

JUNE 30, 2013