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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-07899 and 811-07885

Name of Fund: BlackRock Index Funds, Inc.

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: 12/31/2015

Date of reporting period: 06/30/2015

Item 1 – Report to Stockholders

JUNE 30, 2015

  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
The Markets in Review		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		13
Fund Notes to Financial Statements		19
Series Portfolio Information		23
Series Financial Statements:
Schedules of Investments		24
Statements of Assets and Liabilities		54
Statements of Operations		55
Statements of Changes in Net Assets		56
Series Financial Highlights		57
Series Notes to Financial Statements		58
Disclosure of Investment Advisory Agreement		65
Officers and Directors		69
Additional Information		70

2 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

The Markets in Review

Dear Shareholder,

During the 12-month period ended June 30, 2015, market volatility increased from the remarkably low levels seen in recent years, although it remained below the historical average. In the middle of 2014, geopolitical tensions intensified in Ukraine and the Middle East and oil prices became highly volatile, stoking worries about economic growth outside the United States. The U.S. economy, however, was showing improvement, which made investors concerned that the U.S. Federal Reserve (the “Fed”) would raise short-term rates sooner than previously anticipated. The U.S. dollar appreciated and global credit markets tightened, ultimately putting a strain on investor flows.

In the fourth quarter, U.S. growth picked up considerably while the broader global economy showed more signs of slowing. This, combined with rising global risks, drove investors to the relative stability of U.S. assets. International markets continued to struggle even as the European Central Bank (“ECB”) and the Bank of Japan eased monetary policy. Oil prices plummeted due to a global supply-and-demand imbalance, sparking a selloff in energy-related assets and putting stress on emerging markets. Fixed income investors piled into U.S. Treasuries despite their persistently low yields, which had become attractive as compared to the even lower yields on international sovereign debt.

Equity markets reversed in early 2015, with international markets outperforming the United States as global risks abated. Investors had held high expectations for the U.S. economy, but a harsh winter and west coast port strike brought disappointing first-quarter data and high valuations took their toll on U.S. stocks, while bond yields fell to extreme lows. (Bond prices rise as yields fall.) In contrast, economic reports in Europe and Asia easily beat investors’ very low expectations, and accommodative policies from central banks in those regions helped international equities rebound. Oil prices stabilized, providing some relief for emerging market stocks, although a stronger U.S. dollar continued to be a headwind for the asset class.

U.S. economic data regained momentum in the second quarter, helping U.S. stocks resume an upward path. However, meaningful strength in the labor market underscored the likelihood that the Fed would raise short-term rates before the end of 2015 and bond yields moved swiftly higher. The period ended on a downbeat, but temporary, note as Greece’s long-brewing debt troubles came to an impasse. As the drama unfolded around the tumultuous negotiations between Greece and its creditors, investors feared the possibility of Greece leaving the euro zone and the impact such an event might have on global markets. Most asset classes broadly sold off, especially in Europe, even while macroeconomic and company fundamentals continued to improve.

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

Sincerely,

Rob Kapito

President, BlackRock Advisors, LLC

Rob Kapito

President, BlackRock Advisors, LLC

Total Returns as of June 30, 2015
	6-month			12-month
U.S. large cap equities (S&P 500® Index)		1.23	%		7.42	%
U.S. small cap equities (Russell 2000® Index)		4.75			6.49
International equities (MSCI Europe, Australasia, Far East Index)		5.52			(4.22	)
Emerging market equities (MSCI Emerging Markets Index)		2.95			(5.12	)
3-month Treasury bills (BofA Merrill Lynch 3-Month U.S. Treasury Bill Index)		0.01			0.02
U.S. Treasury securities (BofA Merrill Lynch 10-Year U.S. Treasury Index)		(0.51	)		3.79
U.S. investment-grade bonds (Barclays U.S. Aggregate Bond Index)		(0.10	)		1.86
Tax-exempt municipal bonds (S&P Municipal Bond Index)		0.01			3.00
U.S. high yield bonds (Barclays U.S. Corporate High Yield 2% Issuer Capped Index)		2.53			(0.39	)
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, 2015 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, 2015, the Fund’s Institutional Shares returned 6.27%, Investor A Shares returned 6.15% and Class K Shares returned 6.27%. The benchmark MSCI EAFE Index returned 5.52% for the same period.

• Returns for the Fund’s respective share classes differ from the benchmark index due to 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.

• Japanese stocks experienced a powerful rally during the period, driven largely by increased domestic demand. Japan’s finance leaders effectively encouraged retail investors to take more risk with the introduction of new tax-efficient investment vehicles. In the institutional arena, the Government Pension Investment Fund has been shifting away from Japanese government bonds toward equities and foreign bonds. A weak yen and optimism around the reform of corporate governance policies has also helped stock prices move higher.

• In Europe, the economic landscape and company fundamentals broadly continued to improve with the support of the European Central Bank’s large asset purchase program. A strong rally in European equity markets in the earlier part of the period was interrupted as the severity of Greece’s debt troubles dominated headlines. European assets came under pressure as the Greek government’s negotiations with the Troika (i.e., the European Commission, European Central Bank and International Monetary Fund) became increasingly erratic leading up to the June 30 expiration of the most recent bailout package. Market volatility spiked when failure to strike a deal resulted in the Greek government putting the Troika’s proposal to a public vote. For the six-month period as a whole, European equities broadly produced positive results, with the strongest performance coming from markets in Denmark, Ireland, Italy and Portugal.

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, 2015

BlackRock International Index Fund

Total Return Based on a $10,000 Investment

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

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

³  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, 2015

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		6.27	%		(4.68	)%		9.44	%		4.77	%
Investor A		6.15			(5.00	)		9.16			4.49
Class K5		6.27			(4.75	)		9.47			4.81
MSCI EAFE Index		5.52			(4.22	)		9.54			5.12

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, 2015		Ending Account Value June 30, 2015		Expenses Paid During the Period6		Beginning Account Value January 1, 2015		Ending Account Value June 30, 2015		Expenses Paid During the Period6		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,062.70	$	0.46	$	1,000.00	$	1,024.35	$	0.45		0.09	%
Investor A	$	1,000.00	$	1,061.50	$	1.94	$	1,000.00	$	1,022.91	$	1.91		0.38	%
Class K	$	1,000.00	$	1,062.70	$	0.41	$	1,000.00	$	1,024.40	$	0.40		0.08	%

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 prorating 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, 2015 5

Fund Summary as of June 30, 2015 BlackRock Small Cap Index Fund

Investment Objective

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

Portfolio Management Commentary

How did the Fund perform?

• For the six months ended June 30, 2015, the Fund’s Institutional Shares returned 4.88%, Investor A Shares returned 4.76% and Class K Shares returned 4.93%. The benchmark Russell 2000^® Index returned 4.75% for the same period.

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

Describe the market environment.

• The year started with U.S. stock prices falling as lower oil prices punished the energy sector and the negative impact of a stronger dollar began to show in the earnings of large global exporting companies. High valuations in U.S. stocks drove equity investors toward more appealing opportunities overseas. U.S. stocks rebounded in February due to increased merger and acquisition activity and strong earnings reports from cyclical technology companies. However, stock prices came under pressure again in March as an improving labor market furthered the appreciation of the U.S. dollar and raised investors’ focus on the timing of an expected Federal Reserve move toward tightening policy. U.S. equities came back into favor in April, after a powerful rally in European equities left valuations in the United States looking more appealing by comparison. U.S. stocks continued to outperform international markets in the following months as increasing turmoil around Greece’s debt troubles drove investors to the relative stability of U.S. markets.

• A clear sign of strength has yet to emerge from the blurry U.S. economic picture, as uptrends in the housing and labor markets stand in contrast with consumer caution and productivity languor. This economic unevenness together with still stagnant inflation has kept the Federal Reserve tentative on when to start raising short-term interest rates. However, hiring strength and a modest but concrete pickup in wage growth point to a possible acceleration in the second half of 2015. More investors are now penciling in an autumn rate hike — a significant event that could push market volatility beyond the unusually low levels of the past few years, but the investment advisor expects most of the ups and downs will be short-lived for stocks.

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 investment advisor believes that the Series remains positioned to seek to match the risk characteristics of its benchmark index, irrespective of the market’s future direction.

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

6 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

BlackRock Small Cap Index Fund

Total Return Based on a $10,000 Investment

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

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

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

Performance Summary for the Period Ended June 30, 2015

	6-Month Total Returns			Average Annual Total Returns4
				1 Year			5 Years			10 Years
Institutional		4.88	%		6.64	%		17.00	%		8.14	%
Investor A		4.76			6.36			16.73			7.87
Class K5		4.93			6.75			17.09			8.20
Russell 2000® Index		4.75			6.49			17.08			8.40

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, 2015		Ending Account Value June 30, 2015		Expenses Paid During the Period6		Beginning Account Value January 1, 2015		Ending Account Value June 30, 2015		Expenses Paid During the Period6		Annualized Expense Ratio
Institutional	$	1,000.00	$	1,048.80	$	0.86	$	1,000.00	$	1,023.95	$	0.85		0.17	%
Investor A	$	1,000.00	$	1,047.60	$	2.23	$	1,000.00	$	1,022.61	$	2.21		0.44	%
Class K	$	1,000.00	$	1,049.30	$	0.76	$	1,000.00	$	1,024.05	$	0.75		0.15	%

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

⁷  Hypothetical 5% annual return before expenses is calculated by prorating 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, 2015 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 certain eligible investors. Prior to March 31, 2011, Class K Shares’ performance results are those of Institutional Shares restated to reflect Class K Shares’ fees.

• Investor A Shares are not subject to any sales charge and bear no ongoing distribution fee. These shares are subject to an ongoing service fee of 0.25% per year. These shares are generally available through financial intermediaries.

Performance information reflects past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Refer to www.blackrock.com/funds to obtain performance data current to the most recent month end. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Figures shown in the performance tables on the previous pages assume reinvestment of all distributions, if any, at net asset value (“NAV”) on the ex-dividend date. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Distributions paid to each class of shares will vary because of the different levels of service, distribution and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders.

BlackRock Advisors, LLC (the “Administrator”), the Funds’ administrator, has contractually agreed to waive and/or reimburse a portion of the Funds’ expenses. Without such waiver and/or reimbursement, the Funds’ performance would have been lower. The Administrator is under no obligation to continue waiving and/or reimbursing its fees after the applicable termination date of such agreement. See Note 3 of the Notes to Financial Statements for additional information on waivers and/or reimbursements.

Disclosure of Expenses

Shareholders of these Funds may incur the following charges: (a) transactional expenses, such as sales charges; and (b) operating expenses, including administration fees, service fees, including 12b-1 fees, acquired Fund fees and expenses and other Fund expenses. The expense examples on the previous pages (which are based on a hypothetical investment of $1,000 invested on January 1, 2015 and held through June 30, 2015) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other mutual funds.

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

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

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

Derivative Financial Instruments

The Series may invest in various derivative financial instruments. Derivative financial instruments are used to obtain exposure to a security, index and/or market without owning or taking physical custody of securities or to manage market, equity, credit, interest rate, foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage. Derivative financial instruments also 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 limit the amount of appreciation a Series can realize on an investment and/or may result in lower distributions paid to shareholders. The Series’ investments in these instruments are discussed in detail in the Notes to Financial Statements.

8 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Statements of Assets and Liabilities

June 30, 2015 (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	$	3,080,744,427		$	203,416,053
Receivables:
Capital shares sold		9,322,960			13,913,448
From the administrator		12,906			8,248
Prepaid expenses		330,959			28,340
Total assets		3,090,411,252			217,366,089
Liabilities
Payables:
Contributions to the Series		5,464,639			13,864,639
Capital shares redeemed		3,858,321			48,809
Service fees		61,724			20,028
Officer’s fees		232			56
Other accrued expenses		122,500			58,573
Total liabilities		9,507,416			13,992,105
Net Assets	$	3,080,903,836		$	203,373,984
Net Assets Consist of
Paid-in capital	$	3,040,019,448		$	161,990,009
Undistributed net investment income		45,522,588			758,831
Undistributed net realized gain (accumulated net realized loss)		(66,721,260	)		3,888,554
Net unrealized appreciation (depreciation)		62,083,060			36,736,590
Net Assets	$	3,080,903,836		$	203,373,984
1   Investments at cost	$	3,013,227,775		$	166,679,463
Net Asset Value
Institutional
Net assets	$	2,758,755,568		$	100,766,671
Shares outstanding2		212,744,939			5,787,681
Net asset value	$	12.97		$	17.41
Investor A
Net assets	$	292,717,296		$	97,315,880
Shares outstanding3		22,763,284			5,592,425
Net asset value	$	12.86		$	17.40
Class K
Net assets	$	29,430,972		$	5,291,433
Shares outstanding3		2,268,495			303,480
Net asset value	$	12.97		$	17.44
2    1,208 million shares authorized, $ 0.0001 par value.
3    208 million shares authorized, $ 0.0001 par value.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	9

Statements of Operations

Six Months Ended June 30, 2015 (Unaudited)	BlackRock International Index Fund			BlackRock Small Cap Index Fund
Investment Income
Net investment income allocated from the Series:
Dividends — unaffiliated	$	57,408,432		$	963,735
Securities lending — affiliated — net		111,691			167,561
Dividends — affiliated		5,328			6,310
Foreign taxes withheld		(7,021,523	)		(844	)
Expenses		(654,057	)		(58,534	)
Fees waived		4,143			2,433
Total income		49,854,014			1,080,661
Fund Expenses
Administration		277,022			55,838
Service — Investor A		396,332			118,412
Transfer agent — Institutional		79,832			9,874
Transfer agent — Investor A		162,548			26,929
Transfer agent — Class K		327			240
Registration		312,444			25,624
Professional		57,559			29,865
Printing		27,281			16,008
Officer		163			36
Miscellaneous		6,537			5,723
Total expenses		1,320,045			288,549
Less administration fees waived		(262,794	)		(51,953	)
Less transfer agent fees waived and/or reimbursed — class specific		(83,613	)		(4,853	)
Less other expenses reimbursed		(24,048	)		(12,353	)
Total expenses after fees waived and/or reimbursed		949,590			219,390
Net investment income		48,904,424			861,271
Realized and Unrealized Gain (Loss) Allocation from the Series
Net realized gain (loss) from investments, financial futures contracts and foreign currency transactions		(10,103,355	)		5,892,143
Net change in unrealized appreciation (depreciation) on investments, financial futures contracts and foreign currency translations		70,152,266			1,267,850
Net realized and unrealized gain		60,048,911			7,159,993
Net Increase in Net Assets Resulting from Operations	$	108,953,335		$	8,021,264

See Notes to Financial Statements.
10	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Statements of Changes in Net Assets

	BlackRock International Index Fund
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31, 2014
Operations
Net investment income	$	48,904,424		$	15,644,947
Net realized loss		(10,103,355	)		(6,707,171	)
Net change in unrealized appreciation (depreciation)		70,152,266			(99,989,047	)
Net increase (decrease) in net assets resulting from operations		108,953,335			(91,051,271	)
Distributions to Shareholders From1
Net investment income:
Institutional		(667,442	)		(12,556,660	)
Investor A		(126,624	)		(1,638,076	)
Class K		(6,054	)		(119,038	)
Decrease in net assets resulting from distributions to shareholders		(800,120	)		(14,313,774	)
Capital Share Transactions
Net increase in net assets derived from capital share transactions		859,467,549			1,835,861,523
Net Assets
Total increase in net assets		967,620,764			1,730,496,478
Beginning of period		2,113,283,072			382,786,594
End of period	$	3,080,903,836		$	2,113,283,072
Undistributed (distributions in excess of) net investment income, end of period	$	45,522,588		$	(2,581,716	)
1    Distributions for annual periods determined in accordance with federal income tax regulations.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	11

Statements of Changes in Net Assets

	BlackRock Small Cap Index Fund
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2015 (Unaudited)		Year Ended December 31, 2014
Operations
Net investment income	$	861,271	$	1,480,935
Net realized gain		5,892,143		11,431,686
Net change in unrealized appreciation (depreciation)		1,267,850		(7,088,981	)
Net increase in net assets resulting from operations		8,021,264		5,823,640
Distributions to Shareholders From1
Net investment income:
Institutional		—		(712,508	)
Investor A		—		(1,007,255	)
Class K		—		(40,628	)
Net realized gain:
Institutional		—		(3,858,445	)
Investor A		—		(6,546,880	)
Class K		—		(212,248	)
Decrease in net assets resulting from distributions to shareholders		—		(12,377,964	)
Capital Share Transactions
Net increase (decrease) in net assets derived from capital share transactions		61,889,663		(5,003,618	)
Net Assets
Total increase (decrease) in net assets		69,910,927		(11,557,942	)
Beginning of period		133,463,057		145,020,999
End of period	$	203,373,984	$	133,463,057
Undistributed (distribution in excess of) net investment income, end of period	$	758,831	$	(102,440	)

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

See Notes to Financial Statements.
12	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Financial Highlights BlackRock International Index Fund

	Institutional
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,
				2014			2013			2012			2011			2010
Per Share Operating Performance
Net asset value, beginning of period	$	12.21		$	13.11		$	11.06		$	9.63		$	11.42		$	10.97
Net investment income1		0.25			0.24			0.32			0.33			0.35			0.25
Net realized and unrealized gain (loss)		0.51			(1.04	)		2.04			1.45			(1.79	)2		0.53	2
Net increase (decrease) from investment operations		0.76			(0.80	)		2.36			1.78			(1.44	)		0.78
Distributions from net investment income3		(0.00	)4		(0.10	)		(0.31	)		(0.35	)		(0.35	)		(0.33	)
Net asset value, end of period	$	12.97		$	12.21		$	13.11		$	11.06		$	9.63		$	11.42
Total Return5
Based on net asset value		6.27%	6		(6.13)%			21.52%			18.58%			(12.55)%			7.26%
Ratios to Average Net Assets7
Total expenses		0.11%	8,9		0.16%	8		0.40%	8		0.42%	8		0.44%	8		0.47%
Total expenses after fees waived and/or reimbursed		0.09%	8,9		0.11%	8		0.35%	8		0.34%	8		0.35%	8		0.46%
Net investment income		3.90%	8,9		1.91%	8		2.64%	8		3.22%	8		3.14%	8		2.35%
Supplemental Data
Net assets, end of period (000)	$	2,758,756		$	1,764,794		$	71,826		$	52,589		$	70,169		$	112,145
Portfolio turnover rate of the Series		4%			6%			8%			21%			6%			8%

¹  Based on average shares outstanding.

²  Includes a redemption fee, which is less than $0.005 per share.

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Amount is greater than $(0.005) per share.

⁵  Where applicable, assumes the reinvestment of distributions.

⁶  Aggregate total return.

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.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	13

Financial Highlights (continued) BlackRock International Index Fund

	Investor A
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,
				2014			2013			2012			2011			2010
Per Share Operating Performance
Net asset value, beginning of period	$	12.12		$	13.02		$	10.99		$	9.57		$	11.36		$	10.91
Net investment income1		0.21			0.41			0.29			0.30			0.31			0.23
Net realized and unrealized gain (loss)		0.53			(1.25	)		2.02			1.45			(1.77	)2		0.52	2
Net increase (decrease) from investment operations		0.74			(0.84	)		2.31			1.75			(1.46	)		0.75
Distributions from net investment income3		(0.00	)4		(0.06	)		(0.28	)		(0.33	)		(0.33	)		(0.30	)
Net asset value, end of period	$	12.86		$	12.12		$	13.02		$	10.99		$	9.57		$	11.36
Total Return5
Based on net asset value		6.15%	6		(6.45)%			21.20%			18.33%			(12.84)%			7.02%
Ratios to Average Net Assets7
Total expenses		0.46%	8,9		0.52%	8		0.69%	8		0.69%	8		0.70%	8		0.74%
Total expenses after fees waived and/or reimbursed		0.38%	8,9		0.43%	8		0.60%	8		0.60%	8		0.60%	8		0.73%
Net investment income		3.32%	8,9		3.13%	8		2.41%	8		2.90%	8		2.84%	8		2.16%
Supplemental Data
Net assets, end of period (000)	$	292,717		$	332,475		$	308,624		$	223,754		$	168,266		$	163,033
Portfolio turnover rate of the Series		4%			6%			8%			21%			6%			8%

¹  Based on average shares outstanding.

²  Includes a redemption fee, which is less than $0.005 per share.

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Amount is greater than $(0.005) per share.

⁵  Where applicable, assumes the reinvestment of distributions.

⁶  Aggregate total return.

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.

See Notes to Financial Statements.
14	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Financial Highlights (concluded) BlackRock International Index Fund

	Class K
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,									Period March 31, 20111 to December  31, 2011
				2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	12.21		$	13.11		$	11.06		$	9.63		$	11.80
Net investment income2		0.25			0.34			0.28			0.22			0.26
Net realized and unrealized gain (loss)		0.51			(1.14	)		2.09			1.57			(2.08	)
Net increase (decrease) from investment operations		0.76			(0.80	)		2.37			1.79			(1.82	)
Distributions from net investment income3		(0.00	)4		(0.10	)		(0.32	)		(0.36	)		(0.35	)
Net asset value, end of period	$	12.97		$	12.21		$	13.11		$	11.06		$	9.63
Total Return5
Based on net asset value		6.27%	6		(6.12)%			21.57%			18.65%			(15.38)%	6
Ratios to Average Net Assets7,8
Total expenses		0.11%	9		0.15%			0.36%			0.33%			0.48%	9
Total expenses after fees waived and/or reimbursed		0.08%	9		0.11%			0.30%			0.29%			0.30%	9
Net investment income		3.93%	9		2.65%			2.29%			2.11%			3.27%	9
Supplemental Data
Net assets, end of period (000)	$	29,431		$	16,014		$	2,336		$	710		$	20
Portfolio turnover rate of the Series		4%			6%			8%			21%			6%

¹  Commencement of operations.

²  Based on average shares outstanding.

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Amount is greater than $(0.005) per share.

⁵  Where applicable, assumes the reinvestment of distributions.

⁶  Aggregate total return.

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.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	15

Financial Highlights BlackRock Small Cap Index Fund

	Institutional
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,
				2014			2013			2012			2011			2010
Per Share Operating Performance
Net asset value, beginning of period	$	16.60		$	17.51		$	12.99		$	11.51		$	12.21		$	9.70
Net investment income1		0.10			0.20			0.22			0.24			0.14			0.08
Net realized and unrealized gain (loss)		0.71			0.56			4.83			1.61			(0.69	)2		2.51	2
Net increase (decrease) from investment operations		0.81			0.76			5.05			1.85			(0.55	)		2.59
Distributions from:3
Net investment income		—			(0.26	)		(0.19	)		(0.37	)		(0.15	)		(0.08	)
Net realized gain		—			(1.41	)		(0.34	)		—			—			—
Total distributions		—			(1.67	)		(0.53	)		(0.37	)		(0.15	)		(0.08	)
Net asset value, end of period	$	17.41		$	16.60		$	17.51		$	12.99		$	11.51		$	12.21
Total Return4
Based on net asset value		4.88%	5		4.81%			39.14%			16.10%			(4.49)%			26.77%
Ratios to Average Net Assets6
Total expenses		0.25%	7,8,9		0.35%	7		0.51%	7		0.60%	7		0.61%	7		0.57%
Total expenses after fees waived and/or reimbursed		0.17%	7,8,9		0.23%	7		0.29%	7		0.28%	7		0.30%	7		0.52%
Net investment income		1.16%	7,8,9		1.17%	7		1.45%	7		1.88%	7		1.14%	7		0.80%
Supplemental Data
Net assets, end of period (000)	$	100,767		$	46,988		$	60,707		$	44,328		$	49,829		$	71,443
Portfolio turnover rate of the Series		17%			21%			22%			68%			31%			42%

¹  Based on average shares outstanding.

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

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of distributions.

⁵  Aggregate total 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.

⁹  Ratios do not include expenses incurred indirectly as a result of investments in underlying funds of approximately 0.01%.

See Notes to Financial Statements.
16	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Financial Highlights (continued) BlackRock Small Cap Index Fund

	Investor A
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,
				2014			2013			2012			2011			2010
Per Share Operating Performance
Net asset value, beginning of period	$	16.61		$	17.52		$	13.01		$	11.51		$	12.21		$	9.71
Net investment income1		0.07			0.16			0.19			0.21			0.11			0.06
Net realized and unrealized gain (loss)		0.72			0.56			4.82			1.62			(0.70	)		2.50	2
Net increase (decrease) from investment operations		0.79			0.72			5.01			1.83			(0.59	)		2.56
Distributions from:3
Net investment income		—			(0.22	)		(0.16	)		(0.33	)		(0.11	)		(0.06	)
Net realized gain		—			(1.41	)		(0.34	)		—			—			—
Total distributions		—			(1.63	)		(0.50	)		(0.33	)		(0.11	)		(0.06	)
Net asset value, end of period	$	17.40		$	16.61		$	17.52		$	13.01		$	11.51		$	12.21
Total Return4
Based on net asset value		4.76%	5		4.54%			38.72%			15.96%			(4.76)%			26.35%
Ratios to Average Net Assets6
Total expenses		0.53%	7,8,9		0.63%	7		0.77%	7		0.88%	7		0.88%	7		0.80%
Total expenses after fees waived and/or reimbursed		0.44%	7,8,9		0.48%	7		0.55%	7		0.55%	7		0.55%	7		0.78%
Net investment income		0.87%	7,8,9		0.95%	7		1.20%	7		1.64%	7		0.88%	7		0.53%
Supplemental Data
Net assets, end of period (000)	$	97,316		$	83,859		$	83,118		$	49,303		$	45,263		$	47,252
Portfolio turnover rate of the Series		17%			21%			22%			68%			31%			42%

¹  Based on average shares outstanding.

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

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of distributions.

⁵  Aggregate total 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.

⁹  Ratios do not include expenses incurred indirectly as a result of investments in underlying funds of approximately 0.01%.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	17

Financial Highlights (concluded) BlackRock Small Cap Index Fund

	Class K
	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31,									Period March 31, 20111 to December 31, 2011
				2014			2013			2012
Per Share Operating Performance
Net asset value, beginning of period	$	16.62		$	17.53		$	13.01		$	11.51		$	13.17
Net investment income2		0.10			0.23			0.25			0.25			0.11
Net realized and unrealized gain (loss)		0.72			0.54			4.81			1.62			(1.62	)
Net increase (decrease) from investment operations		0.82			0.77			5.06			1.87			(1.51	)
Distributions from:3
Net investment income		—			(0.27	)		(0.20	)		(0.37	)		(0.15	)
Net realized gain		—			(1.41	)		(0.34	)		—			—
Total distributions		—			(1.68	)		(0.54	)		(0.37	)		(0.15	)
Net asset value, end of period	$	17.44		$	16.62		$	17.53		$	13.01		$	11.51
Total Return4
Based on net asset value		4.93%	5		4.87%			39.14%			16.30%			(11.42)%	5
Ratios to Average Net Assets6,7
Total expenses		0.23%	8,9		0.32%			0.49%			0.68%			0.68%	8
Total expenses after fees waived and/or reimbursed		0.15%	8,9		0.18%			0.25%			0.25%			0.25%	8
Net investment income		1.20%	8,9		1.35%			1.57%			1.99%			1.28%	8
Supplemental Data
Net assets, end of period (000)	$	5,291		$	2,617		$	1,196		$	40		$	22
Portfolio turnover rate of the Series		17%			21%			22%			68%			31%

¹  Commencement of operations.

²  Based on average shares outstanding.

³  Distributions for annual periods determined in accordance with federal income tax regulations.

⁴  Where applicable, assumes the reinvestment of distributions.

⁵  Aggregate total 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.

⁹  Ratios do not include expenses incurred indirectly as a result of investments in underlying funds of approximately 0.01%.

See Notes to Financial Statements.
18	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

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

1. Organization:

BlackRock International Index Fund and BlackRock Small Cap Index Fund are each a series of BlackRock Index Funds, Inc. (the “Corporation”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open end management investment company. The Corporation is organized as a Maryland corporation. The following are referred to herein collectively as the “Funds” or individually, a “Fund”:

Fund Name	Herein Referred To As	Diversification Classification
BlackRock International Index Fund	International Index	Diversified
BlackRock Small Cap Index Fund	Small Cap Index	Diversified

The Funds seek to achieve their investment objectives by investing all of their assets in Master International Index Series (“Master International Index”) and Master Small Cap Index Series (“Master Small Cap Index”), respectively (collectively, the “Series” or individually, a “Series”), of Quantitative Master Series LLC (the “Master LLC”), an affiliate of the Funds, each of which has the same investment objective and strategies as the corresponding Fund. The value of each Fund’s investment in the respective Series reflects each Fund’s proportionate interest in the net assets of the respective Series. The performance of each Fund is directly affected by the performance of the respective Series. At June 30, 2015, the percentages of Master International Index and Master Small Cap Index owned by International Index and Small Cap Index were 83.68%% and 20.25%, 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 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, and may be subject to a CDSC for certain redemptions where no initial sales charge was paid at the time of purchase. All classes of shares have identical voting, dividend, liquidation and other rights and are subject to the same terms and conditions except that Investor A Shares bear certain expenses related to the shareholder servicing of such shares. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures.

2. Significant Accounting Policies:

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

Valuation: The Funds’ investments are valued at fair value as of the close of trading on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m., Eastern time). U.S. GAAP defines fair value as the price the 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 determine the fair values of their financial instruments at market value using independent dealers or pricing services under policies approved by the Board of Directors of each Fund (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 Funds for all financial instruments.

Each Fund’s policy is to fair value its financial instruments at market value. The Funds record their investment in the Series at fair value based on each Fund’s proportionate interest in the net assets of the respective Series. Valuation of securities held by the Series is discussed in Note 2 of the Series’s 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. 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.

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

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

3. Administration Agreement and Other Transactions with Affiliates:

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

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 19

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

The Corporation, on behalf of the Funds, entered into an Administration Agreement with BlackRock Advisors, LLC (the “Administrator”), an indirect, wholly owned subsidiary of BlackRock, to provide administrative services (other than investment advice and related portfolio activities). For such services, International Index and Small Cap Index pay the Administrator a monthly fee at an annual rate of 0.01% and 0.04%, respectively, of the average daily value of the Funds’ net assets. The Funds do not pay an investment advisory fee or investment management fee. Prior to April 30, 2015, the Funds paid the Administrator a monthly fee at an annual rate of 0.03% and 0.08%, respectively, of the average daily value of the Funds’ net assets.

The Administrator contractually agreed to waive and/or reimburse fees or expenses. In order to limit expenses, excluding interest expense, dividend expense, acquired fund fees and expenses and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of each Fund’s business. The expense limitations as a percentage of average daily net assets are as follows:

	International Index		Small Cap Index
Institutional		0.12%		0.17%
Investor A		0.37%		0.42%
Class K		0.07%		0.12%

Prior to April 30, 2015, the expense limitations as a percentage of average daily net assets were as follows:

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

The Administrator has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2016 unless approved by the Corporation’s Board, including a majority of the Independent Directors. These amounts are shown as administration fees waived and transfer agent fees waived and/or reimbursed — class specific, respectively, in the Statements of Operations.

For the six months ended June 30, 2015, the amounts shown as transfer agent fees waived and/or reimbursed — class specific were as follows:

	International Index		Small Cap Index
Institutional		—	$	44
Investor A	$	83,286	$	4,570
Class K	$	327	$	239

The Corporation, on behalf of the Funds, entered into a Distribution Agreement and a Distribution and Service Plan with BlackRock Investments, LLC (“BRIL”), an affiliate of BlackRock. Pursuant to the Distribution and Service Plan and in accordance with Rule 12b-1 under the 1940 Act, each Fund pays BRIL ongoing service and distribution fees with respect to 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.

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 related services to Investor A shareholders.

Pursuant to written agreements, certain financial intermediaries, some of which may be affiliates, provide the Funds with sub-accounting, recordkeeping, sub-transfer agency and other administrative services with respect to sub-accounts they service. For these services, these entities receive an asset-based fee or an annual fee per shareholder account, which will vary depending on share class and/or net assets. For the six months ended June 30, 2015, the Funds paid the following amounts to affiliates of BlackRock 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	$	3	$	25

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, 2015, each Fund 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	$	428	$	188
Investor A	$	2,388	$	1,197
Class K	$	12		—

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

20 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

4. Income Tax Information:

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 U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Funds’ U.S. federal tax returns remains open for each of the four years ended December 31, 2014. The statutes of limitations on the Funds’ state and local tax returns may remain open for an additional year depending upon the jurisdiction.

Management has analyzed tax laws and regulations and their application to the Funds’ as of June 30, 2015, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

As of December 31, 2014, International Index had capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates as follows:

Expires December 31,	International Index
2016	$	4,270,741
2017		6,596,186
No expiration date1		32,111,624
Total	$	42,978,551

¹ Must be utilized prior to losses subject to expiration.

5. Capital Share Transactions:

Transactions in capital shares for each class were as follows:

	Six Months Ended June 30, 2015						Year Ended December 31, 2014
International Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		88,739,063		$	1,177,199,409			144,662,721		$	1,845,029,543
Shares issued to shareholders in reinvestment of distributions		54,780			666,668			1,030,829			12,541,117
Shares redeemed		(20,610,649	)		(269,315,307	)		(6,610,394	)		(84,894,321	)
Net increase		68,183,194		$	908,550,770			139,083,156		$	1,772,676,339
Investor A
Shares sold		4,638,766		$	59,469,146			11,606,455		$	151,854,021
Shares issued to shareholders in reinvestment of distributions		10,428			125,968			132,973			1,629,568
Shares redeemed		(9,311,469	)		(120,852,532	)		(8,019,713	)		(105,018,790	)
Net increase (decrease)		(4,662,275	)	$	(61,257,418	)		3,719,715		$	48,464,799
Class K
Shares sold		1,264,426		$	16,126,165			1,344,085		$	17,426,754
Shares issued to shareholders in reinvestment of distributions		497			6,054			9,743			119,038
Shares redeemed		(307,677	)		(3,958,022	)		(220,728	)		(2,825,407	)
Net increase		957,246		$	12,174,197			1,133,100		$	14,720,385
Total Net Increase		64,478,165		$	859,467,549			143,935,971		$	1,835,861,523
	Six Months Ended June 30, 2015						Year Ended December 31, 2014
Small Cap Index	Shares			Amount			Shares			Amount
Institutional
Shares sold		4,250,100		$	72,817,155			1,065,529		$	18,355,091
Shares issued to shareholders in reinvestment of distributions		—			—			272,582			4,364,658
Shares redeemed		(1,292,583	)		(22,305,841	)		(1,975,628	)		(33,823,911	)
Net increase (decrease)		2,957,517		$	50,511,314			(637,517	)	$	(11,104,162	)

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 21

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

	Six Months Ended June 30, 2015						Year Ended December 31, 2014
Small Cap Index (concluded)	Shares			Amount			Shares			Amount
Investor A
Shares sold and automatic conversion of shares		1,342,117		$	22,526,175			1,065,381		$	18,374,630
Shares issued to shareholders in reinvestment of distributions		—			—			451,129			7,219,938
Shares redeemed		(796,946	)		(13,618,571	)		(1,213,790	)		(21,038,490	)
Net increase		545,171		$	8,907,604			302,720		$	4,556,078
Class K
Shares sold		179,972		$	3,042,023			125,184		$	2,169,394
Shares issued to shareholders in reinvestment of distributions		—			—			15,634			249,688
Shares redeemed		(33,905	)		(571,278	)		(51,667	)		(874,616	)
Net increase		146,067		$	2,470,745			89,151		$	1,544,466
Total Net Increase (Decrease)		3,648,755		$	61,889,663			(245,646	)	$	(5,003,618	)

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.

22 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Series Portfolio Information as of June 30, 2015 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	%
Novartis AG, Registered Shares	2
Roche Holding AG	2
Toyota Motor Corp.	1
HSBC Holdings PLC	1
BP PLC	1
Sanofi	1
Bayer AG, Registered Shares	1
Royal Dutch Shell PLC, Class A	1
Commonwealth Bank of Australia	1

Geographic Allocation Percent of
Long-Term  Investments

Japan	23	%
United Kingdom	18
France	10
Switzerland	10
Germany	9
Australia	7
Netherlands	4
Spain	3
Hong Kong	3
Sweden	3
Italy	2
Denmark	2
Other1	6

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

Ten Largest Holdings Percent of
Long-Term Investments

Team Health Holdings, Inc.	0.2	%
Manhattan Associates, Inc.	0.2
Cepheid, Inc.	0.2
Tyler Technologies, Inc.	0.2
MAXIMUS, Inc.	0.2
Investors Bancorp, Inc.	0.2
HealthSouth Corp.	0.2
West Pharmaceutical Services, Inc.	0.2
Neurocrine Biosciences, Inc.	0.2
Prosperity Bancshares, Inc.	0.2

Sector Allocation Percent of
Long-Term Investments

Financial	24	%
Information Technology	17
Health Care	16
Consumer Discretionary	15
Industrials	13
Materials	4
Energy	4
Utilities	3
Consumer Staples	3
Telecommunication Services	1

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

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 23

Schedule of Investments June 30, 2015 (Unaudited) Master International Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Australia — 6.7%
AGL Energy Ltd.		187,477	$	2,245,768
Alumina Ltd.		849,453		999,891
Amcor Ltd.		350,674		3,705,745
AMP Ltd.		800,702		3,715,505
APA Group		304,683		1,935,210
Aristocrat Leisure Ltd.		144,821		853,993
Asciano Ltd.		273,320		1,400,562
ASX Ltd.		52,552		1,616,204
Aurizon Holdings Ltd.		592,941		2,342,301
AusNet Services		449,402		483,432
Australia & New Zealand Banking Group Ltd.		772,641		19,174,754
Bank of Queensland Ltd.		120,072		1,181,443
Bendigo & Adelaide Bank Ltd.		143,888		1,360,557
BGP Holdings PLC (a)		783,183		9
BHP Billiton Ltd.		878,671		17,923,854
Boral Ltd.		228,900		1,031,163
Brambles Ltd.		421,993		3,442,499
Caltex Australia Ltd.		73,627		1,807,404
CIMIC Group, Ltd.		23,200		388,651
Coca-Cola Amatil Ltd.		184,314		1,300,139
Cochlear Ltd.		16,471		1,017,882
Commonwealth Bank of Australia		451,442		29,604,170
Computershare Ltd.		119,489		1,076,173
Crown Resorts Ltd.		98,617		926,604
CSL Ltd.		130,178		8,678,495
Dexus Property Group		297,376		1,673,336
Federation Centres Ltd.		848,556		1,909,343
Flight Centre Travel Group Ltd.		16,412		431,354
Fortescue Metals Group Ltd. (b)		431,377		635,312
Goodman Group		475,031		2,294,248
GPT Group		489,158		1,612,588
Harvey Norman Holdings Ltd.		162,714		565,011
Healthscope Ltd.		321,481		673,168
Iluka Resources Ltd.		126,019		745,239
Incitec Pivot Ltd.		473,370		1,403,419
Insurance Australia Group Ltd.		652,219		2,804,133
Lend Lease Group		148,842		1,720,948
Macquarie Group Ltd.		81,772		5,123,457
Medibank Pvt, Ltd. (a)		766,647		1,187,928
Mirvac Group		1,147,530		1,634,863
National Australia Bank Ltd.		730,618		18,765,242
Newcrest Mining Ltd. (a)		213,655		2,151,322
Orica Ltd.		98,184		1,611,677
Origin Energy Ltd.		296,792		2,739,178
Platinum Asset Management Ltd.		75,974		437,840
Qantas Airways Ltd.		176,948		429,981
QBE Insurance Group Ltd.		367,953		3,874,581
Ramsay Health Care Ltd.		39,359		1,864,353
REA Group Ltd.		14,420		434,954
Rio Tinto Ltd.		124,963		5,169,311
Santos Ltd.		301,300		1,819,153
Scentre Group		1,425,761		4,118,606
Seek Ltd.		82,747		896,706
Sonic Healthcare Ltd.		99,676		1,641,332
South32, Ltd.		1,427,620		1,971,650
Stockland		657,046		2,074,768
Suncorp Group Ltd.		349,570		3,616,674
Sydney Airport		299,518		1,149,305
Tabcorp Holdings Ltd.		235,938		827,020
Common Stocks	Shares		Value
Australia (concluded)
Tatts Group Ltd.		383,922		1,100,802
Telstra Corp. Ltd.		1,184,804		5,607,141
TPG Telecom Ltd.		63,778		440,528
Transurban Group		529,183		3,794,033
Treasury Wine Estates Ltd.		187,715		720,885
Wesfarmers Ltd.		307,202		9,238,526
Westfield Corp.		530,568		3,726,567
Westpac Banking Corp.		870,646		21,541,532
Woodside Petroleum Ltd.		211,960		5,592,916
Woolworths Ltd.		346,104		7,191,783
WorleyParsons Ltd.		58,158		466,937
				247,642,058
Austria — 0.2%
Andritz AG		20,805		1,152,098
Erste Group Bank AG (a)		83,596		2,381,769
OMV AG		38,454		1,058,627
Raiffeisen Bank International AG		44,493		647,427
Strabag SE		30,711		1
Voestalpine AG		28,418		1,184,387
				6,424,309
Belgium — 1.3%
Ageas		58,773		2,267,656
Anheuser-Busch InBev NV		219,659		26,433,838
Belgacom SA		47,252		1,672,102
Colruyt SA		20,019		898,012
Delhaize Group		28,029		2,279,802
Groupe Bruxelles Lambert SA		22,956		1,851,096
KBC Groep NV (a)		69,680		4,671,216
Solvay SA		16,199		2,231,660
Telenet Group Holding NV (a)		15,436		839,833
UCB SA		37,518		2,697,739
Umicore SA		27,318		1,297,237
				47,140,191
Denmark — 1.6%
A.P. Moeller — Maersk A/S, Class A		1,008		1,767,835
A.P. Moeller — Maersk A/S, Class B		2,015		3,643,202
Carlsberg A/S, Class B		30,039		2,721,703
Coloplast A/S, Class B		30,257		1,984,350
Danske Bank A/S		194,227		5,709,688
DSV A/S		46,960		1,520,608
ISS A/S (a)		41,481		1,366,196
Novo Nordisk A/S, Class B		520,529		28,563,958
Novozymes A/S, Class B		66,360		3,152,806
Pandora A/S		31,102		3,337,375
TDC A/S		225,902		1,655,940
Tryg A/S		34,120		711,401
Vestas Wind Systems A/S		60,488		3,014,934
William Demant Holding A/S (a)		7,188		548,346
				59,698,342
Finland — 0.8%
Elisa OYJ		40,139		1,271,725
Fortum OYJ		125,915		2,236,873
Kone OYJ, Class B		85,130		3,455,428
Metso OYJ		32,769		900,624
Neste Oil OYJ		37,195		948,846

Portfolio Abbreviations

CVA	Certificaten Van Aandelen (Dutch Certificate)
CVR	Contingent Value Rights
FTSE	Financial Times Stock Exchange
REIT	Real Estate Investment Trust
USD	U.S. Dollar

See Notes to Financial Statements.

24 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Finland (concluded)
Nokia OYJ		1,043,539	$	7,113,761
Nokian Renkaat OYJ		33,098		1,036,973
Orion OYJ, Class B		28,540		999,709
Sampo OYJ, Class A		127,571		6,012,030
Stora Enso OYJ, Class R		152,508		1,571,631
UPM-Kymmene OYJ		148,967		2,636,105
Wartsila OYJ		40,461		1,895,881
				30,079,586
France — 9.5%
Accor SA		58,011		2,935,942
Aeroports de Paris		7,309		825,630
Air Liquide SA		96,867		12,291,501
Airbus Group NV		161,455		10,516,742
Alcatel-Lucent (a)		826,816		3,015,588
Alstom SA		57,744		1,640,175
ArcelorMittal		277,874		2,698,602
Arkema		20,662		1,493,605
AtoS		23,662		1,768,102
AXA SA		531,107		13,464,537
BNP Paribas SA		288,881		17,530,085
Bollore SA		272,969		1,460,226
Bouygues SA		55,276		2,066,575
Bureau Veritas SA		73,521		1,694,803
Cap Gemini SA		42,725		3,790,411
Carrefour SA		158,099		5,080,273
Casino Guichard-Perrachon SA		15,584		1,182,863
Christian Dior SA		14,325		2,804,389
Cie Generale des Etablissements Michelin		51,115		5,378,512
CNP Assurances		44,564		745,856
Compagnie de Saint-Gobain		130,303		5,882,057
Credit Agricole SA		285,990		4,269,815
Danone SA		157,865		10,225,608
Dassault Systemes SA		34,428		2,499,272
Edenred		54,814		1,354,385
EDF		74,847		1,674,223
Essilor International SA		56,076		6,717,928
Eurazeo		11,658		774,329
Eutelsat Communications SA		47,382		1,530,590
Fonciere Des Regions		7,047		599,556
GDF Suez		413,787		7,704,029
Gecina SA		9,068		1,117,600
Groupe Eurotunnel SA, Registered Shares		128,891		1,868,817
Hermes International		7,012		2,618,136
ICADE		9,872		706,130
Iliad SA		7,306		1,619,651
Imerys SA		8,311		637,562
JCDecaux SA		21,415		895,539
Kering		20,515		3,667,816
Klepierre		46,200		2,036,931
L’Oreal SA		70,878		12,681,553
Lafarge SA		50,799		3,358,681
Lagardere SCA		32,521		951,591
Legrand SA		71,280		4,011,773
LVMH Moet Hennessy Louis Vuitton SA		76,138		13,385,839
Natixis		255,735		1,845,726
Numericable-SFR		26,086		1,382,702
Orange SA		505,945		7,819,049
Pernod Ricard SA		57,891		6,692,337
Peugeot SA		118,735		2,448,532
Publicis Groupe SA		50,742		3,761,145
Remy Cointreau SA		5,536		399,953
Renault SA		52,873		5,543,594
Rexel SA		81,619		1,317,055
Safran SA		80,161		5,447,691
Sanofi		330,392		32,685,630
Schneider Electric SE		151,281		10,474,544
Common Stocks	Shares		Value
France (concluded)
SCOR SE		42,527		1,503,816
SES SA		89,612		3,012,573
Societe BIC SA		8,051		1,283,519
Societe Generale SA		197,811		9,282,037
Sodexo		25,173		2,396,412
Suez Environnement Co.		81,913		1,529,233
Technip SA		27,674		1,715,072
Thales SA		28,042		1,694,324
Total SA		595,918		29,230,340
Unibail-Rodamco SE		26,704		6,773,034
Valeo SA		21,843		3,455,190
Vallourec SA		26,693		545,328
Veolia Environnement SA		126,845		2,597,086
Vinci SA		129,016		7,487,793
Vivendi SA (a)		326,038		8,267,207
Wendel SA		8,940		1,098,541
Zodiac Aerospace		56,038		1,825,368
				348,688,659
Germany — 8.7%
adidas AG		58,135		4,448,159
Allianz SE, Registered Shares		124,732		19,452,080
Axel Springer AG		12,585		660,960
BASF SE		251,078		22,093,085
Bayer AG, Registered Shares		225,929		31,639,108
Bayerische Motoren Werke AG		90,975		9,963,071
Bayerische Motoren Werke AG, Preference Shares		17,170		1,453,835
Beiersdorf AG		27,426		2,298,031
Brenntag AG		45,855		2,631,223
Commerzbank AG		296,688		3,792,742
Continental AG		31,216		7,391,241
Daimler AG, Registered Shares		268,390		24,449,147
Deutsche Annington Immobilien SE		123,349		3,480,658
Deutsche Bank AG, Registered Shares		378,392		11,376,991
Deutsche Boerse AG		59,186		4,902,233
Deutsche Lufthansa AG, Registered Shares (a)		66,433		857,120
Deutsche Post AG, Registered Shares		265,277		7,751,202
Deutsche Telekom AG, Registered Shares		868,378		14,971,088
Deutsche Wohnen AG, Bearer Shares		81,704		1,873,138
E.ON SE		550,696		7,343,231
Evonik Industries AG		24,664		941,752
Fraport AG Frankfurt Airport Services Worldwide		9,794		615,183
Fresenius Medical Care AG & Co. KGaA		60,290		4,991,181
Fresenius SE & Co. KGaA		104,317		6,697,815
Fuchs Petrolub SE, Preference Shares		19,203		811,956
GEA Group AG		54,586		2,435,242
Hannover Rueck SE		15,900		1,538,907
HeidelbergCement AG		37,790		2,995,115
Henkel AG & Co. KGaA		28,956		2,761,124
Henkel AG & Co. KGaA, Preference Shares		48,255		5,414,983
Hugo Boss AG		18,081		2,021,385
Infineon Technologies AG		326,240		4,048,505
K+S AG, Registered Shares		53,068		2,237,761
Kabel Deutschland Holding AG (a)		7,482		1,001,205
Lanxess AG		26,135		1,542,019
Linde AG		52,343		9,919,696
MAN SE		11,536		1,188,503
Merck KGaA		34,779		3,467,125
Metro AG		45,697		1,443,300
Muenchener Rueckversicherungs AG, Registered Shares		47,267		8,380,166
Osram Licht AG		28,431		1,360,159
Porsche Automobil Holding SE, Preference Shares		41,372		3,488,342
ProSiebenSat.1 Media AG, Registered Shares		59,231		2,925,662
RWE AG		134,371		2,890,101
SAP AG		268,590		18,821,788
Siemens AG, Registered Shares		221,155		22,374,554

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 25

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

Common Stocks	Shares		Value
Germany (concluded)
Symrise AG		33,201	$	2,061,951
Telefonica Deutschland Holding AG (a)		150,330		866,015
ThyssenKrupp AG		105,339		2,740,333
TUI AG		136,027		2,200,953
United Internet AG, Registered Shares		32,539		1,446,197
Volkswagen AG		10,576		2,448,835
Volkswagen AG, Preference Shares		45,901		10,652,641
				321,558,797
Hong Kong — 3.2%
AIA Group Ltd.		3,360,800		21,975,122
ASM Pacific Technology Ltd.		85,004		841,227
Bank of East Asia Ltd.		314,532		1,374,125
BOC Hong Kong Holdings Ltd.		1,068,400		4,446,734
Cathay Pacific Airways Ltd.		327,263		804,055
Cheung Kong Infrastructure Holdings Ltd.		197,500		1,533,074
Cheung Kong Property Holdings, Ltd.		737,439		6,117,141
CK Hutchison Holdings Ltd.		737,439		10,841,810
CLP Holdings Ltd.		556,187		4,727,062
First Pacific Co. Ltd.		663,250		559,585
Galaxy Entertainment Group Ltd.		633,000		2,518,685
Hang Lung Properties Ltd.		607,000		1,803,956
Hang Seng Bank Ltd.		210,053		4,102,535
Henderson Land Development Co. Ltd.		315,220		2,154,824
HKT Trust & HKT Ltd.		755,560		888,946
Hong Kong & China Gas Co. Ltd.		2,009,511		4,210,638
Hong Kong Exchanges & Clearing Ltd.		302,727		10,666,446
Hysan Development Co. Ltd.		154,791		670,319
Kerry Properties Ltd.		168,500		660,488
Li & Fung Ltd.		1,661,980		1,317,571
The Link REIT		623,914		3,651,102
MGM China Holdings Ltd.		313,600		512,067
MTR Corp.		402,500		1,872,661
New World Development Co. Ltd.		1,448,968		1,893,290
NWS Holdings Ltd.		375,824		543,271
PCCW Ltd.		1,417,000		845,180
Power Assets Holdings Ltd.		403,000		3,674,312
Sands China Ltd.		675,000		2,268,539
Shangri-La Asia Ltd.		339,905		473,911
Sino Land Co. Ltd.		841,263		1,404,166
SJM Holdings Ltd.		610,000		659,564
Sun Hung Kai Properties Ltd.		474,324		7,675,880
Swire Pacific Ltd., Class A		170,077		2,135,652
Swire Properties Ltd.		303,800		968,966
Techtronic Industries Co.		386,000		1,262,075
WH Group Ltd. (a)(c)		1,635,500		1,113,138
Wharf Holdings Ltd.		413,357		2,746,982
Wheelock & Co. Ltd.		241,000		1,229,742
Wynn Macau Ltd.		440,000		733,156
Yue Yuen Industrial Holdings Ltd.		182,785		611,399
				118,489,396
Ireland — 0.9%
Bank of Ireland (a)		7,606,420		3,079,051
CRH PLC		219,312		6,183,048
Experian PLC		283,808		5,162,009
James Hardie Industries SE		126,500		1,683,740
Kerry Group PLC, Class A		41,276		3,061,885
Ryanair Holdings PLC		10,891		144,022
Shire PLC		165,540		13,301,064
				32,614,819
Israel — 0.6%
Azrieli Group		8,578		342,368
Bank Hapoalim BM		294,700		1,586,061
Bank Leumi Le-Israel BM (a)		387,888		1,639,021
Bezeq The Israeli Telecommunication Corp. Ltd.		559,653		953,074
Common Stocks	Shares		Value
Israel (concluded)
Delek Group Ltd.		1,219		359,407
Israel Chemicals Ltd.		138,102		964,565
The Israel Corp. Ltd.		1,111		392,122
Mizrahi Tefahot Bank Ltd. (a)		35,985		445,968
NICE Systems Ltd.		14,847		942,960
Teva Pharmaceutical Industries Ltd.		234,998		13,906,698
				21,532,244
Italy — 2.2%
Assicurazioni Generali SpA		328,275		5,916,753
Atlantia SpA		114,332		2,824,899
Banca Monte dei Paschi di Siena SpA (a)		683,804		1,332,409
Banco Popolare SC (a)		72,344		1,191,186
Enel Green Power SpA		509,317		995,615
Enel SpA		1,991,527		9,026,183
Eni SpA		704,041		12,504,901
Exor SpA		29,849		1,425,883
Finmeccanica SpA (a)		113,326		1,425,538
Intesa Sanpaolo SpA		3,727,080		13,396,925
Luxottica Group SpA		47,734		3,175,164
Mediobanca SpA		156,133		1,530,829
Pirelli & C SpA		78,836		1,330,526
Prysmian SpA		52,578		1,136,544
Saipem SpA (a)		76,040		803,521
Snam SpA		630,990		3,002,894
Telecom Italia SpA		2,833,610		3,600,981
Telecom Italia SpA, Non-Convertible Savings Shares		1,844,048		1,880,490
Tenaris SA		127,199		1,715,693
Terna — Rete Elettrica Nazionale SpA		470,887		2,082,141
UniCredit SpA		1,179,525		7,927,435
Unione di Banche Italiane SCpA		236,831		1,900,371
UnipolSai SpA		211,988		525,171
				80,652,052
Japan — 22.4%
ABC-Mart, Inc.		7,400		452,898
Acom Co. Ltd. (a)		116,300		445,823
Advantest Corp.		44,400		461,652
Aeon Co. Ltd.		194,800		2,764,229
AEON Financial Service Co. Ltd.		32,700		907,246
Aeon Mall Co. Ltd.		31,250		585,180
Air Water, Inc.		36,000		658,163
Aisin Seiki Co. Ltd.		51,100		2,172,733
Ajinomoto Co., Inc.		156,000		3,373,541
Alfresa Holdings Corp.		48,100		748,491
Amada Co. Ltd.		100,700		1,062,899
ANA Holdings, Inc.		299,000		810,687
Aozora Bank Ltd.		329,000		1,241,321
Asahi Glass Co. Ltd.		273,100		1,639,566
Asahi Group Holdings Ltd.		104,600		3,321,904
Asahi Kasei Corp.		349,000		2,862,701
Asics Corp.		45,200		1,167,660
Astellas Pharma, Inc.		589,500		8,397,922
The Bank of Kyoto Ltd.		96,000		1,104,301
The Bank of Yokohama Ltd.		315,000		1,929,051
Benesse Holdings, Inc.		15,300		383,562
Bridgestone Corp.		179,100		6,619,998
Brother Industries Ltd.		58,100		821,914
Calbee, Inc.		24,700		1,040,562
Canon, Inc.		298,600		9,686,100
Casio Computer Co. Ltd. (b)		54,600		1,076,969
Central Japan Railway Co.		38,800		7,001,636
The Chiba Bank Ltd.		199,000		1,515,344
Chiyoda Corp.		48,000		424,843
Chubu Electric Power Co., Inc.		181,800		2,709,574
Chugai Pharmaceutical Co. Ltd.		62,000		2,138,587

See Notes to Financial Statements.

26 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Japan (continued)
The Chugoku Bank Ltd.		56,600	$	892,119
The Chugoku Electric Power Co., Inc.		85,100		1,241,392
Citizen Holdings Co. Ltd.		73,200		510,698
COLOPL, Inc. (b)		13,400		270,767
Credit Saison Co. Ltd.		38,500		824,311
Dai Nippon Printing Co. Ltd.		144,000		1,485,915
The Dai-ichi Life Insurance Co. Ltd.		298,800		5,867,691
Daicel Corp.		82,400		1,057,372
Daihatsu Motor Co. Ltd.		44,100		627,683
Daiichi Sankyo Co. Ltd.		172,700		3,191,592
Daikin Industries Ltd.		63,500		4,564,912
Daito Trust Construction Co. Ltd.		20,000		2,069,905
Daiwa House Industry Co. Ltd.		161,800		3,769,608
Daiwa Securities Group, Inc.		458,000		3,426,163
Denso Corp.		133,900		6,661,939
Dentsu, Inc.		60,213		3,114,972
Don Quijote Co. Ltd.		31,600		1,344,547
East Japan Railway Co.		92,049		8,275,133
Eisai Co. Ltd.		68,000		4,559,033
Electric Power Development Co. Ltd.		39,700		1,402,438
FamilyMart Co. Ltd.		20,400		938,096
FANUC Corp.		55,700		11,397,088
Fast Retailing Co. Ltd.		14,400		6,529,983
Fuji Electric Co. Ltd.		132,800		571,166
Fuji Heavy Industries Ltd.		158,200		5,817,138
FUJIFILM Holdings Corp.		125,400		4,475,278
Fujitsu Ltd.		513,000		2,866,308
Fukuoka Financial Group, Inc.		209,000		1,083,269
GungHo Online Entertainment, Inc.		158,200		615,647
The Gunma Bank Ltd.		95,000		700,944
The Hachijuni Bank Ltd.		114,000		859,564
Hakuhodo DY Holdings, Inc.		67,000		716,526
Hamamatsu Photonics KK		41,000		1,208,971
Hankyu Hanshin Holdings, Inc.		288,000		1,700,054
Hikari Tsushin, Inc.		5,000		336,990
Hino Motors Ltd.		64,600		798,601
Hirose Electric Co. Ltd.		7,400		1,060,262
The Hiroshima Bank Ltd.		142,000		847,916
Hisamitsu Pharmaceutical Co., Inc.		16,000		621,126
Hitachi Chemical Co. Ltd.		29,800		536,728
Hitachi Construction Machinery Co. Ltd.		31,200		546,171
Hitachi High-Technologies Corp.		15,400		432,921
Hitachi Ltd.		1,328,000		8,748,260
Hitachi Metals Ltd.		62,000		953,154
Hokuhoku Financial Group, Inc.		358,000		844,609
Hokuriku Electric Power Co.		44,100		656,901
Honda Motor Co. Ltd.		445,700		14,404,949
Hoya Corp.		115,400		4,621,737
Hulic Co. Ltd.		82,400		730,241
Ibiden Co. Ltd.		28,300		478,593
Idemitsu Kosan Co. Ltd.		22,100		433,556
IHI Corp.		424,000		1,974,217
Iida Group Holdings Co. Ltd.		43,000		683,585
Inpex Corp.		262,600		2,980,759
Isetan Mitsukoshi Holdings Ltd.		94,305		1,684,824
Isuzu Motors Ltd.		162,000		2,125,368
ITOCHU Corp.		450,700		5,952,490
Itochu Techno-Solutions Corp.		17,200		428,343
The Iyo Bank Ltd.		65,500		804,140
J. Front Retailing Co. Ltd.		66,400		1,249,733
Japan Airlines Co. Ltd.		34,580		1,205,092
Japan Airport Terminal Co. Ltd.		11,600		631,336
Japan Display, Inc. (a)		96,900		365,758
Japan Exchange Group, Inc.		76,600		2,483,302
Japan Prime Realty Investment Corp.		287		891,094
Japan Real Estate Investment Corp.		324		1,470,401
Japan Retail Fund Investment Corp.		676		1,351,789
Common Stocks	Shares		Value
Japan (continued)
Japan Tobacco, Inc.		309,500		11,002,500
JFE Holdings, Inc.		131,300		2,909,068
JGC Corp.		58,000		1,094,875
The Joyo Bank Ltd.		183,000		1,024,694
JSR Corp.		47,900		845,593
JTEKT Corp.		58,700		1,110,042
JX Holdings, Inc.		608,360		2,622,852
Kajima Corp.		208,800		980,687
Kakaku.com, Inc.		52,700		762,498
Kamigumi Co. Ltd.		62,000		581,985
Kaneka Corp.		78,000		569,629
The Kansai Electric Power Co., Inc.		211,500		2,341,417
Kansai Paint Co. Ltd.		75,000		1,161,990
Kao Corp.		139,200		6,473,768
Kawasaki Heavy Industries Ltd.		396,000		1,845,832
KDDI Corp.		479,100		11,561,617
Keihan Electric Railway Co. Ltd.		142,000		826,917
Keikyu Corp.		118,000		890,118
Keio Corp.		144,000		1,030,009
Keisei Electric Railway Co. Ltd.		76,000		903,595
Keyence Corp.		12,392		6,678,996
Kikkoman Corp.		47,000		1,467,510
Kintetsu Corp.		501,000		1,706,098
Kirin Holdings Co. Ltd.		240,900		3,318,195
Kobe Steel Ltd.		861,000		1,448,556
Koito Manufacturing Co. Ltd.		29,000		1,129,178
Komatsu Ltd.		251,600		5,047,927
Konami Corp.		28,900		537,193
Konica Minolta, Inc.		120,600		1,405,612
Kubota Corp.		304,000		4,820,336
Kuraray Co. Ltd.		97,300		1,188,554
Kurita Water Industries Ltd.		37,600		875,850
Kyocera Corp.		87,300		4,538,940
Kyowa Hakko Kirin Co. Ltd.		65,000		849,411
Kyushu Electric Power Co., Inc.		121,400		1,407,501
Lawson, Inc.		20,800		1,423,368
LIXIL Group Corp.		66,500		1,319,070
M3, Inc.		52,100		1,047,285
Mabuchi Motor Co. Ltd.		12,800		809,631
Makita Corp.		32,700		1,770,992
Marubeni Corp.		489,000		2,806,199
Marui Group Co. Ltd.		58,700		793,069
Maruichi Steel Tube Ltd.		14,000		347,484
Mazda Motor Corp.		146,980		2,876,220
McDonald’s Holdings Co. Japan Ltd. (b)		15,400		325,242
Medipal Holdings Corp.		33,100		539,119
Meiji Holdings Co. Ltd.		18,393		2,373,250
Minebea Co. Ltd.		85,000		1,403,211
Miraca Holdings, Inc.		15,000		749,463
Mitsubishi Chemical Holdings Corp.		367,200		2,308,450
Mitsubishi Corp.		390,300		8,580,354
Mitsubishi Electric Corp.		549,000		7,089,068
Mitsubishi Estate Co. Ltd.		344,000		7,409,101
Mitsubishi Gas Chemical Co., Inc.		96,000		537,528
Mitsubishi Heavy Industries Ltd.		820,200		4,985,956
Mitsubishi Logistics Corp.		35,000		459,359
Mitsubishi Materials Corp.		284,000		1,090,480
Mitsubishi Motors Corp.		163,200		1,387,857
Mitsubishi Tanabe Pharma Corp.		62,800		940,858
Mitsubishi UFJ Financial Group, Inc.		3,490,874		25,114,958
Mitsubishi UFJ Lease & Finance Co. Ltd.		213,700		1,168,608
Mitsui & Co. Ltd.		458,600		6,230,596
Mitsui Chemicals, Inc.		209,000		776,492
Mitsui Fudosan Co. Ltd.		259,000		7,247,570
Mitsui OSK Lines Ltd.		298,000		953,895
Mixi, Inc.		15,200		754,116
Mizuho Financial Group, Inc.		6,381,364		13,807,565

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 27

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

Common Stocks		Shares		Value
Japan (continued)
MS&AD Insurance Group Holdings, Inc.			146,170	$	4,550,019
Murata Manufacturing Co. Ltd.			55,700		9,720,503
Nabtesco Corp.			29,400		737,461
Nagoya Railroad Co. Ltd.			221,000		826,330
Namco Bandai Holdings, Inc.			43,700		844,483
NEC Corp.			720,000		2,178,827
Nexon Co. Ltd.			40,300		554,830
NGK Insulators Ltd.			74,000		1,904,097
NGK Spark Plug Co. Ltd.			50,200		1,390,247
NH Foods Ltd.			51,000		1,163,038
NHK Spring Co. Ltd.			42,700		470,143
Nidec Corp.			59,100		4,422,914
Nikon Corp.			97,000		1,120,999
Nintendo Co. Ltd.			28,700		4,787,950
Nippon Building Fund, Inc.			356		1,558,041
Nippon Electric Glass Co. Ltd.	��		101,500		513,284
Nippon Express Co. Ltd.			237,000		1,164,481
Nippon Paint Co. Ltd.			41,300		1,163,858
Nippon Prologis REIT, Inc.			420		772,859
Nippon Steel & Sumitomo Metal			2,083,265		5,401,601
Nippon Telegraph & Telephone Corp.			205,352		7,436,974
Nippon Yusen KK			454,000		1,263,961
Nissan Motor Co. Ltd.			680,700		7,111,237
Nisshin Seifun Group, Inc.			54,540		724,907
Nissin Foods Holdings Co. Ltd.			15,800		692,249
Nitori Holdings Co. Ltd.			19,400		1,581,653
Nitto Denko Corp.			45,710		3,753,813
NOK Corp.			23,500		728,119
Nomura Holdings, Inc.			991,600		6,695,132
Nomura Real Estate Holdings, Inc.			43,200		906,709
Nomura Research Institute Ltd.			30,100		1,177,027
NSK Ltd.			131,600		2,029,168
NTT Data Corp.			36,000		1,572,144
NTT DoCoMo, Inc.			418,200		8,028,831
NTT Urban Development Corp.			39,100		388,374
Obayashi Corp.			183,000		1,334,462
Odakyu Electric Railway Co. Ltd.			166,000		1,548,819
Oji Holdings Corp.			207,000		899,586
Olympus Corp. (a)			71,500		2,468,538
Omron Corp.			55,900		2,428,198
Ono Pharmaceutical Co. Ltd.			22,300		2,433,931
Oracle Corp. Japan			14,800		618,724
Oriental Land Co. Ltd.			54,200		3,457,371
ORIX Corp.			358,700		5,326,505
Osaka Gas Co. Ltd.			522,000		2,060,229
Otsuka Corp.			14,400		672,215
Otsuka Holdings Co. Ltd.			106,700		3,399,803
Panasonic Corp.			606,500		8,306,748
Park24 Co. Ltd.			26,700		457,090
Rakuten, Inc.			215,600		3,480,674
Recruit Holdings Co. Ltd.			40,100		1,222,819
Resona Holdings, Inc.			595,556		3,248,238
Ricoh Co. Ltd.			196,400		2,034,500
Rinnai Corp.			9,000		708,706
Rohm Co. Ltd.			26,700		1,788,875
Sankyo Co. Ltd.			11,200		396,522
Sanrio Co. Ltd. (b)			20,200		548,843
Santen Pharmaceutical Co. Ltd.			116,000		1,641,251
SBI Holdings, Inc.			60,940		837,768
Secom Co. Ltd.			60,900		3,956,401
Sega Sammy Holdings, Inc.			43,932		574,424
Seibu Holdings, Inc.			35,200		815,142
Seiko Epson Corp.			73,100		1,295,363
Sekisui Chemical Co. Ltd.			118,000		1,448,571
Sekisui House Ltd.			165,800		2,633,061
Seven & I Holdings Co. Ltd.			212,900		9,138,863
Seven Bank Ltd.			146,500		678,179
Common Stocks		Shares		Value
Japan (continued)
Sharp Corp. (a)(b)			403,000		489,691
Shikoku Electric Power Co., Inc.			56,100		839,809
Shimadzu Corp.			71,000		963,623
Shimamura Co. Ltd.			6,100		640,434
Shimano, Inc.			21,900		2,988,482
Shimizu Corp.			163,000		1,371,733
Shin-Etsu Chemical Co. Ltd.			111,100		6,889,412
Shinsei Bank Ltd.			448,000		902,838
Shionogi & Co. Ltd.			82,800		3,208,766
Shiseido Co. Ltd.			98,800		2,240,912
The Shizuoka Bank Ltd.			165,000		1,722,388
Showa Shell Sekiyu KK			48,300		422,024
SMC Corp.			15,500		4,664,246
Softbank Corp.			262,900		15,485,594
Sompo Japan Nipponkoa Holdings, Inc.			96,975		3,550,859
Sony Corp. (a)			320,700		9,106,872
Sony Financial Holdings, Inc.			59,200		1,036,520
Stanley Electric Co. Ltd.			34,900		726,856
Sumitomo Chemical Co. Ltd.			416,000		2,499,495
Sumitomo Corp.			327,300		3,809,581
Sumitomo Dainippon Pharma Co. Ltd.			48,400		533,383
Sumitomo Electric Industries Ltd.			209,400		3,240,955
Sumitomo Heavy Industries Ltd.			155,000		902,774
Sumitomo Metal Mining Co. Ltd.			133,000		2,022,793
Sumitomo Mitsui Financial Group, Inc.			348,650		15,521,614
Sumitomo Mitsui Trust Holdings, Inc.			958,820		4,386,217
Sumitomo Realty & Development Co. Ltd.			104,000		3,644,878
Sumitomo Rubber Industries Ltd.			42,300		655,240
Suntory Beverage & Food Ltd.			38,400		1,528,741
Suruga Bank Ltd.			47,300		1,013,220
Suzuken Co. Ltd.			21,700		694,248
Suzuki Motor Corp.			98,700		3,331,071
Sysmex Corp.			39,800		2,370,387
T&D Holdings, Inc.			172,600		2,573,037
Taiheiyo Cement Corp.			301,000		880,239
Taisei Corp.			317,000		1,819,894
Taisho Pharmaceutical Holdings Co. Ltd.			9,500		641,745
Taiyo Nippon Sanso Corp.			40,900		494,961
Takashimaya Co. Ltd.			74,000		670,765
Takeda Pharmaceutical Co. Ltd.			216,500		10,450,163
TDK Corp.			36,300		2,779,580
Teijin Ltd.			254,000		985,636
Terumo Corp.			79,200		1,899,233
THK Co. Ltd.			33,000		712,147
Tobu Railway Co. Ltd.			325,000		1,396,030
Toho Co. Ltd.			29,100		723,576
Toho Gas Co. Ltd.			112,000		663,054
Tohoku Electric Power Co., Inc.			138,700		1,877,927
Tokio Marine Holdings, Inc.			196,200		8,159,777
The Tokyo Electric Power Co., Inc.			398,200		2,169,354
Tokyo Electron Ltd.			47,800		3,038,027
Tokyo Gas Co. Ltd.			636,000		3,376,318
Tokyo Tatemono Co. Ltd.			54,500		756,441
Tokyu Corp.			313,000		2,094,799
Tokyu Fudosan Holdings Corp.			141,500		1,090,555
TonenGeneral Sekiyu KK			70,000		651,138
Toppan Printing Co. Ltd.			148,000		1,237,272
Toray Industries, Inc.			402,700		3,403,897
Toshiba Corp.			1,168,000		4,005,419
Toto Ltd.			89,000		1,604,125
Toyo Seikan Kaisha Ltd.			43,000		689,866
Toyo Suisan Kaisha Ltd.			29,800		1,085,818
Toyoda Gosei Co. Ltd.			17,900		431,466
Toyota Industries Corp.			43,700		2,488,557
Toyota Motor Corp.			747,400		50,013,968
Toyota Tsusho Corp.			58,900		1,580,473
Trend Micro, Inc.			29,800		1,019,359

See Notes to Financial Statements.

28 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Japan (concluded)
Unicharm Corp.		100,800	$	2,394,455
United Urban Investment Corp.		701		989,935
USS Co. Ltd.		60,000		1,082,106
West Japan Railway Co.		46,100		2,949,436
Yahoo! Japan Corp.		439,700		1,774,650
Yakult Honsha Co. Ltd.		24,500		1,451,125
Yamada Denki Co. Ltd.		231,900		927,665
Yamaguchi Financial Group, Inc.		55,000		684,875
Yamaha Corp.		42,300		852,539
Yamaha Motor Co. Ltd.		72,800		1,590,656
Yamato Holdings Co. Ltd.		93,200		1,802,081
Yamazaki Baking Co. Ltd.		30,000		499,531
Yaskawa Electric Corp.		63,300		809,636
Yokogawa Electric Corp.		58,700		756,009
The Yokohama Rubber Co. Ltd.		31,500		632,067
				825,149,902
Luxembourg — 0.1%
Altice SA (a)		25,369		3,494,317
RTL Group SA (a)		10,877		983,281
				4,477,598
Netherlands — 4.1%
Aegon NV		491,067		3,623,186
Akzo Nobel NV		67,998		4,964,469
ASML Holding NV		96,028		9,988,581
CNH Industrial NV		266,002		2,427,253
Delta Lloyd NV		61,661		1,012,237
Gemalto NV		23,828		2,127,815
Heineken Holding NV		27,301		1,913,512
Heineken NV		63,432		4,822,568
ING Groep NV CVA (a)		1,078,628		17,911,011
Koninklijke Ahold NV		247,089		4,638,514
Koninklijke Boskalis Westminster NV		22,091		1,084,395
Koninklijke DSM NV		50,004		2,903,241
Koninklijke KPN NV		861,095		3,301,298
Koninklijke Philips Electronics NV		256,792		6,553,962
Koninklijke Vopak NV		23,059		1,166,261
NN Group NV (a)		40,174		1,131,391
OCI NV (a)		29,547		837,409
QIAGEN NV (a)		62,014		1,524,100
Randstad Holding NV		34,592		2,250,813
Reed Elsevier NV		190,736		4,536,787
Royal Dutch Shell PLC, Class A		1,083,977		30,648,520
Royal Dutch Shell PLC, Class B		681,526		19,403,391
TNT Express NV		137,210		1,165,290
Unilever NV CVA		445,316		18,618,271
Wolters Kluwer NV		85,267		2,537,865
				151,092,140
New Zealand — 0.1%
Auckland International Airport Ltd.		260,005		870,207
Contact Energy Ltd.		102,592		348,303
Fletcher Building Ltd.		223,352		1,229,041
Meridian Energy Ltd.		390,387		571,419
Mighty River Power Ltd.		241,178		455,982
Ryman Healthcare Ltd.		138,281		742,158
Spark New Zealand Ltd.		466,008		882,047
				5,099,157
Norway — 0.6%
DnB NOR ASA		271,720		4,525,118
Gjensidige Forsikring ASA		51,954		836,552
Norsk Hydro ASA		413,546		1,735,623
Orkla ASA		225,464		1,769,014
Seadrill Ltd.		98,134		1,019,176
Statoil ASA		307,554		5,499,990
Subsea 7 SA		67,352		658,790
Common Stocks	Shares		Value
Norway (concluded)
Telenor ASA		208,366		4,568,393
Yara International ASA		48,521		2,528,338
				23,140,994
Portugal — 0.2%
Banco Comercial Portugues SA (a)		11,308,691		988,503
EDP — Energias de Portugal SA		531,905		2,026,555
Galp Energia SGPS SA		113,713		1,338,546
Jeronimo Martins SGPS SA		69,401		894,852
				5,248,456
Singapore — 1.4%
Ascendas Real Estate Investment Trust		619,762		1,131,516
CapitaCommercial Trust		623,100		721,163
CapitaLand Ltd.		721,249		1,872,914
CapitaMall Trust		721,400		1,150,693
City Developments Ltd.		118,135		857,251
ComfortDelGro Corp. Ltd.		634,516		1,473,567
DBS Group Holdings Ltd.		476,007		7,303,681
Genting Singapore PLC		1,738,327		1,154,149
Global Logistic Properties Ltd.		968,000		1,817,195
Golden Agri-Resources Ltd.		2,240,451		682,198
Hutchison Port Holdings Trust		1,602,400		1,009,268
Jardine Cycle & Carriage Ltd.		30,021		737,028
Keppel Corp. Ltd.		393,777		2,400,119
Noble Group Ltd.		1,259,840		709,777
Oversea-Chinese Banking Corp. Ltd.		802,698		6,061,943
SembCorp Industries Ltd.		255,090		736,246
SembCorp Marine Ltd. (b)		220,197		463,917
Singapore Airlines Ltd.		167,209		1,331,321
Singapore Exchange Ltd.		215,400		1,251,290
Singapore Press Holdings Ltd.		99,985		302,725
Singapore Technologies Engineering Ltd.		425,813		1,042,565
Singapore Telecommunications Ltd.		2,238,632		6,986,136
StarHub Ltd.		174,257		510,830
Suntec Real Estate Investment Trust		802,800		1,028,275
United Overseas Bank Ltd.		346,147		5,922,218
UOL Group Ltd.		148,899		764,265
Wilmar International Ltd.		558,570		1,359,495
Yangzijiang Shipbuilding Holdings Ltd.		582,383		611,686
				51,393,431
Spain — 3.4%
Abertis Infraestructuras SA		135,120		2,218,956
ACS Actividades de Construccion y Servicios SA		56,450		1,820,848
Aena SA		19,000		1,982,030
Amadeus IT Holding SA, Class A		126,785		5,061,283
Banco Bilbao Vizcaya Argentaria SA		1,750,753		17,251,835
Banco de Sabadell SA		1,372,293		3,323,945
Banco de Sabadell SA, International Shares		23,160		55,900
Banco Popular Espanol SA		485,586		2,362,675
Banco Santander SA		4,000,295		28,138,122
Bankia SA (a)		1,289,149		1,641,250
Bankinter SA		198,958		1,475,653
CaixaBank SA		757,315		3,524,012
Distribuidora Internacional de Alimentacion SA		185,863		1,424,375
Enagas SA		13,781		375,152
Endesa SA		76,846		1,471,727
Ferrovial SA		132,758		2,884,355
Gas Natural SDG SA		108,425		2,462,033
Grifols SA		39,780		1,606,389
Iberdrola SA		1,477,635		9,976,314
Inditex SA		303,283		9,892,272
International Consolidated Airlines Group SA (a)		231,541		1,806,369
Mapfre SA		352,463		1,218,148
Red Electrica Corp. SA		7,322		587,955
Repsol SA		289,152		5,096,484
Telefonica SA		1,244,812		17,732,832

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 29

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

Common Stocks	Shares		Value
Spain (concluded)
Zardoya Otis SA		47,968	$	523,528
				125,914,442
Sweden — 2.9%
Alfa Laval AB		91,556		1,611,474
Assa Abloy AB		277,254		5,219,527
Atlas Copco AB, A Shares		187,619		5,249,262
Atlas Copco AB, B Shares		102,155		2,544,745
Boliden AB		75,335		1,373,410
Electrolux AB, Class B		64,756		2,029,009
Elekta AB, B Shares (b)		131,745		826,401
Getinge AB, Class B		56,831		1,368,264
Hennes & Mauritz AB, Class B		267,285		10,287,454
Hexagon AB, Class B		75,968		2,751,601
Husqvarna AB, Class B		119,187		897,793
ICA Gruppen AB		20,946		743,104
Industrivarden AB, Class C		42,032		792,115
Investment AB Kinnevik, Class B		64,063		2,026,303
Investor AB, Class B		128,093		4,776,036
Lundin Petroleum AB (a)		65,556		1,124,714
Millicom International Cellular SA		17,970		1,325,645
Nordea Bank AB		824,045		10,277,283
Sandvik AB		290,899		3,215,973
Securitas AB, Class B		88,325		1,166,501
Skandinaviska Enskilda Banken AB, Class A		419,034		5,360,005
Skanska AB, Class B		101,940		2,065,717
SKF AB, Class B		111,448		2,543,021
Svenska Cellulosa AB, Class B		169,854		4,319,078
Svenska Handelsbanken AB, Class A		426,556		6,226,971
Swedbank AB, Class A		249,122		5,808,132
Swedish Match AB		55,921		1,589,869
Tele2 AB, Class B		81,638		950,704
Telefonaktiebolaget LM Ericsson, Class B		859,209		8,948,776
TeliaSonera AB		696,716		4,106,259
Volvo AB, Class B		423,306		5,256,412
				106,781,558
Switzerland — 9.5%
ABB Ltd., Registered Shares (a)		601,224		12,600,643
Actelion Ltd., Registered Shares (a)		29,680		4,346,678
Adecco SA, Registered Shares (a)		49,318		4,002,522
Aryzta AG (a)		24,274		1,194,361
Baloise Holding AG, Registered Shares		13,568		1,654,357
Barry Callebaut AG, Registered Shares (a)		771		878,245
Cie Financiere Richemont SA, Registered Shares		142,667		11,595,660
Coca-Cola HBC AG (a)		55,055		1,181,543
Credit Suisse Group AG, Registered Shares (a)		418,410		11,542,873
Dufry AG (a)		8,732		1,216,737
EMS-Chemie Holding AG, Registered Shares		2,064		872,028
Geberit AG, Registered Shares		10,283		3,428,295
Givaudan SA, Registered Shares (a)		2,495		4,319,608
Glencore PLC (a)		3,038,021		12,183,074
Holcim Ltd., Registered Shares (a)		65,794		4,854,646
Julius Baer Group Ltd. (a)		61,670		3,460,548
Kuehne & Nagel International AG, Registered Shares		15,101		2,005,157
Lindt & Spruengli AG		281		1,486,314
Lindt & Spruengli AG, Registered Shares		28		1,752,533
Lonza Group AG, Registered Shares (a)		14,520		1,940,817
Nestle SA, Registered Shares		894,857		64,564,471
Novartis AG, Registered Shares		638,358		62,789,182
Pargesa Holding SA, Bearer Shares		7,631		513,828
Partners Group Holding AG		4,823		1,441,535
Roche Holding AG		194,289		54,476,969
Schindler Holding AG, Participation Certificates		12,180		1,992,052
Schindler Holding AG, Registered Shares		5,413		884,018
SGS SA, Registered Shares		1,438		2,622,329
Common Stocks	Shares		Value
Switzerland (concluded)
Sika AG — Bearer Shares		603		2,126,710
Sonova Holding AG, Registered Shares		14,900		2,014,848
STMicroelectronics NV		183,025		1,498,412
Sulzer AG, Registered Shares		6,863		705,940
The Swatch Group AG, Bearer Shares		8,369		3,261,215
The Swatch Group AG, Registered Shares		13,126		985,962
Swiss Life Holding AG, Registered Shares (a)		8,631		1,976,332
Swiss Prime Site AG, Registered Shares (a)		16,088		1,220,861
Swiss Re AG		95,726		8,473,926
Swisscom AG, Registered Shares		7,493		4,199,426
Syngenta AG, Registered Shares		25,393		10,360,901
Transocean Ltd.		98,143		1,591,077
UBS Group AG (a)		1,000,147		21,219,596
Zurich Insurance Group AG (a)		40,753		12,406,420
				347,842,649
United Kingdom — 17.7%
3i Group PLC		265,666		2,155,662
Aberdeen Asset Management PLC		258,157		1,637,499
Admiral Group PLC		57,580		1,254,685
Aggreko PLC		71,476		1,614,449
AMEC PLC		103,200		1,325,416
Anglo American PLC		383,539		5,540,770
Antofagasta PLC		101,747		1,101,293
ARM Holdings PLC		387,241		6,336,763
Ashtead Group PLC		137,201		2,364,629
Associated British Foods PLC		95,803		4,317,092
AstraZeneca PLC		352,379		22,302,151
Aviva PLC		1,093,704		8,471,150
Babcock International Group PLC		80,137		1,357,716
BAE Systems PLC		865,660		6,133,568
Barclays PLC		4,505,012		18,464,457
Barratt Developments PLC		293,807		2,833,864
BG Group PLC		955,575		15,914,910
BHP Billiton PLC		577,497		11,354,554
BP PLC		5,075,080		33,681,649
British American Tobacco PLC		508,043		27,354,305
British Land Co. PLC		255,889		3,187,378
BT Group PLC		2,341,646		16,581,996
Bunzl PLC		89,423		2,439,408
Burberry Group PLC		130,174		3,211,440
Capita PLC		192,637		3,743,056
Carnival PLC		54,523		2,787,745
Centrica PLC		1,375,475		5,707,505
Cobham PLC		316,308		1,306,353
Compass Group PLC		457,159		7,561,016
Croda International PLC		36,145		1,562,878
Diageo PLC		685,944		19,864,782
Direct Line Insurance Group PLC		372,020		1,962,873
Dixons Carphone PLC		271,648		1,931,661
easyJet PLC		44,947		1,092,595
Fiat Chrysler Automobiles NV		243,821		3,576,889
Fresnillo PLC		63,568		693,196
G4S PLC		421,410		1,776,887
GKN PLC		488,566		2,566,839
GlaxoSmithKline PLC		1,354,804		28,168,997
Hammerson PLC		202,712		1,959,070
Hargreaves Lansdown PLC		73,652		1,334,428
HSBC Holdings PLC		5,241,605		46,935,465
ICAP PLC		145,924		1,213,793
IMI PLC		75,968		1,342,923
Imperial Tobacco Group PLC		261,318		12,585,647
Inmarsat PLC		124,522		1,790,066
InterContinental Hotels Group PLC		69,707		2,810,359
Intertek Group PLC		44,920		1,727,173
Intu Properties PLC		229,167		1,107,027
Investec PLC		155,291		1,395,286

See Notes to Financial Statements.

30 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
United Kingdom (continued)
ITV PLC		1,033,069	$	4,274,257
J. Sainsbury PLC		364,838		1,518,721
Johnson Matthey PLC		56,591		2,698,719
Kingfisher PLC		644,290		3,514,273
Land Securities Group PLC		212,961		4,026,894
Legal & General Group PLC		1,628,231		6,366,484
Lloyds Banking Group PLC (a)		15,586,835		20,920,616
London Stock Exchange Group PLC		96,147		3,576,730
Marks & Spencer Group PLC		452,256		3,815,200
Meggitt PLC		222,702		1,630,786
Melrose Industries PLC		321,549		1,249,775
Merlin Entertainments PLC (c)		222,998		1,495,615
Mondi PLC		100,295		2,159,277
National Grid PLC		1,048,533		13,495,486
Next PLC		40,835		4,779,404
Old Mutual PLC		1,353,895		4,285,554
Pearson PLC		220,430		4,173,721
Persimmon PLC (a)		90,811		2,817,497
Petrofac Ltd.		64,792		942,769
Prudential PLC		701,047		16,894,906
Randgold Resources Ltd.		28,368		1,902,819
Reckitt Benckiser Group PLC		176,121		15,187,662
Reed Elsevier PLC		323,830		5,262,457
Rexam PLC		196,009		1,699,994
Rio Tinto PLC		347,403		14,289,718
Rolls-Royce Holdings PLC (a)		505,655		6,906,862
Royal Bank of Scotland Group PLC (a)		737,730		4,079,285
Royal Mail PLC		171,624		1,387,496
RSA Insurance Group PLC		309,686		1,931,138
SABMiller PLC		264,350		13,706,652
The Sage Group PLC		290,467		2,338,121
Schroders PLC		36,209		1,806,712
Segro PLC		196,012		1,248,871
Severn Trent PLC		66,588		2,175,853
Sky PLC		287,065		4,675,610
Smith & Nephew PLC		258,535		4,373,708
Smiths Group PLC		105,487		1,869,825
Sports Direct International PLC (a)		78,087		880,422
SSE PLC		280,660		6,773,560
Standard Chartered PLC		675,391		10,815,980
Standard Life PLC		530,824		3,701,455
Tate & Lyle PLC		125,348		1,023,171
Taylor Wimpey PLC		963,284		2,809,202
Tesco PLC		2,218,493		7,391,528
Travis Perkins PLC		65,947		2,184,148
Tullow Oil PLC		235,864		1,260,522
Unilever PLC		350,260		15,039,860
Common Stocks	Shares		Value
United Kingdom (concluded)
United Utilities Group PLC		191,640	$	2,684,180
Vodafone Group PLC		7,385,860		26,942,822
The Weir Group PLC		59,739		1,592,177
Whitbread PLC		52,581		4,084,977
William Hill PLC		243,637		1,543,298
WM Morrison Supermarkets PLC		605,897		1,720,005
Wolseley PLC		70,159		4,474,342
WPP PLC		362,052		8,126,682
				651,969,111
Total Common Stocks — 98.1%				3,612,629,891
Rights
Singapore — 0.0%
Jardine Cycle & Carriage, Ltd. (Expires 07/20/15) (a)		3,336		17,584
Spain — 0.0%
Abertis Infraestructuras SA (Expires 07/17/15) (a)		135,120		111,472
Repsol SA (Expires 07/03/15) (a)		289,152		149,898
Zardoya Otis SA (Expires 07/31/15) (a)		47,968		20,910
				282,280
Total Rights — 0.0%				299,864
Total Long-Term Investments (Cost — $3,367,954,960) — 98.1%				3,612,929,755
Short-Term Securities
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.07% (d)(e)		10,072,077		10,072,077
	Beneficial Interest (000)
BlackRock Liquidity Series, LLC, Money Market Series, 0.23% (d)(e)(f)	$	3,524		3,524,062
Total Short-Term Securities (Cost — $13,596,139) — 0.4%				13,596,139
Total Investments (Cost — $3,381,551,099) — 98.5%				3,626,525,894
Other Assets Less Liabilities — 1.5%				54,973,454
Net Assets — 100.0%			$	3,681,499,348

Notes to Schedule of Investments

(a) Non-income producing security.

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

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

(d) During the six months ended June 30, 2015, investments in issuers considered to be affiliates of the Series for purposes of Section 2(a)(3) of the 1940 Act were as follows:

Affiliate	Shares/Beneficial Interest Held at December  31, 2014		Net Activity			Shares/Beneficial Interest Held at June  30, 2015		Income
BlackRock Liquidity Funds, TempFund, Institutional Class		3,872,785		6,199,292	1		10,072,077	$	6,524
BlackRock Liquidity Series, LLC, Money Market Series	$	4,107,347	$	(583,285	)2	$	3,524,062	$	138,285	3
1   Represents net shares purchased.
2  Represents net beneifical interest sold.
3   Represents securities lending income earned from reinvestment of cash collateral from loaned securities, net of fees, and other payments to and from borrowers of securities, and less the collateral investment expenses.

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 31

Schedule of Investments (continued) Master International Index Series

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

(f) 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.

• As of June 30, 2015, financial futures contracts outstanding were as follows:

Contracts Long		Issue	Exchange	Expiration	Notional Value			Unrealized Appreciation (Depreciation)
	589	Euro Stoxx 50 Index	Eurex Mercantile	September 2015		USD	22,562,370	$	120,725
	205	FTSE 100 Index	Euronext Life	September 2015		USD	20,917,579		(475,893	)
	208	Nikkei 225 Index	Singapore Exchange	September 2015		USD	17,241,982		4,093
	91	SPI 200 Index	Australian Securities Exchange	September 2015		USD	9,473,228		(174,350	)
	Total							$	(525,425	)

• 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. 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. 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. The three levels of the fair value hierarchy are as follows:

• Level 1 — unadjusted quoted prices 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)

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. For information about the Series’ policy regarding valuation of investments and derivative financial instruments, refer to Note 2 of the Notes to Financial Statements.

As of June 30, 2015, the following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Common Stocks:
Australia	$	1,971,650	$	245,670,399	$	9	$	247,642,058
Austria		—		6,424,308		1		6,424,309
Belgium		—		47,140,191		—		47,140,191
Denmark		548,346		59,149,996		—		59,698,342
Finland		—		30,079,586		—		30,079,586
France		7,470,047		341,218,612		—		348,688,659
Germany		—		321,558,797		—		321,558,797
Hong Kong		7,565,672		110,923,724		—		118,489,396
Ireland		—		32,614,819		—		32,614,819
Israel		—		21,532,244		—		21,532,244
Italy		—		80,652,052		—		80,652,052
Japan		—		825,149,902		—		825,149,902
Luxembourg		3,494,317		983,281		—		4,477,598
Netherlands		1,012,237		150,079,903		—		151,092,140
New Zealand		1,375,704		3,723,453		—		5,099,157
Norway		—		23,140,994		—		23,140,994
Portugal		—		5,248,456		—		5,248,456
Singapore		—		51,393,431		—		51,393,431
Spain		—		125,914,442		—		125,914,442
Sweden		1,569,505		105,212,053		—		106,781,558
Switzerland		2,099,106		345,743,543		—		347,842,649
United Kingdom		9,759,604		642,209,507		—		651,969,111
Rights		170,807		129,057		—		299,864
Short-Term Securities		10,072,077		3,524,062		—		13,596,139
Total	$	47,109,072	$	3,579,416,812	$	10	$	3,626,525,894

See Notes to Financial Statements.

32 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Schedule of Investments (concluded) Master International Index Series

	Level 1			Level 2		Level 3		Total
Derivative Financial Instruments1
Assets:
Equity contracts	$	124,818			—		—	$	124,818
Liabilities:
Equity contracts	$	(650,243	)		—		—	$	(650,243	)
Total	$	(525,425	)		—		—	$	(525,425	)
1    Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

The Series may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of June 30, 2015, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

	Level 1		Level 2			Level 3		Total
Assets:
Cash pledged for financial futures contracts		$3,548,560		—			—	$	3,548,560
Foreign currency at value		72,427,156		—			—		72,427,156
Liabilities:
Collateral on securities loaned at value		—	$	(3,524,062	)		—		(3,524,062	)
Total	$	75,975,716	$	(3,524,062	)		—	$	72,451,654

During the six months ended June 20, 2015, there were no transfers between levels.

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 33

Schedule of Investments June 30, 2015 (Unaudited) Master Small Cap Index Series (Percentages shown are based on Net Assets)

Common Stocks	Shares		Value
Advertising Agencies — 0.3%
Constant Contact, Inc. (a)		16,243	$	467,149
Harte-Hanks, Inc.		25,932		154,555
Marchex, Inc., Class B		17,264		85,457
Marin Software, Inc. (a)		15,012		101,181
Marketo, Inc. (a)		17,459		489,899
MDC Partners, Inc., Class A		22,009		433,577
National CineMedia, Inc.		31,201		497,968
QuinStreet, Inc. (a)		18,339		118,287
Sizmek, Inc. (a)		10,376		73,670
TubeMogul, Inc. (a)		6,991		99,901
Viad Corp.		10,321		279,802
				2,801,446
Aerospace — 1.3%
AAR Corp.		17,910		570,792
Aerojet Rocketdyne Holdings, Inc. (a)		31,734		654,038
Aerovironment, Inc. (a)		9,884		257,775
Astronics Corp. (a)		9,666		685,223
Cubic Corp.		10,901		518,669
Curtiss-Wright Corp.		23,949		1,734,865
Ducommun, Inc. (a)		5,861		150,452
Esterline Technologies Corp. (a)		15,674		1,494,359
HEICO Corp.		9,690		564,927
HEICO Corp., Class A		20,106		1,020,782
Kaman Corp.		13,473		565,058
KLX, Inc. (a)		26,531		1,170,813
Kratos Defense & Security Solutions, Inc. (a)		23,388		147,344
Moog, Inc., Class A (a)		19,534		1,380,663
Teledyne Technologies, Inc. (a)		17,830		1,881,243
				12,797,003
Agriculture, Fishing & Ranching — 0.4%
Alico, Inc.		1,893		85,867
The Andersons, Inc.		14,327		558,753
Arcadia Biosciences, Inc. (a)		3,831		24,403
Cal-Maine Foods, Inc.		15,876		828,727
Calavo Growers, Inc.		7,424		385,528
Fresh Del Monte Produce, Inc.		16,787		648,985
Limoneira Co.		5,618		124,888
Sanderson Farms, Inc.		11,378		855,171
Seaboard Corp. (a)		133		478,667
				3,990,989
Air Transport — 0.5%
Air Transport Services Group, Inc. (a)		26,770		280,817
Allegiant Travel Co.		6,746		1,199,978
Atlas Air Worldwide Holdings, Inc. (a)		12,676		696,673
Bristow Group, Inc.		17,569		936,428
Era Group, Inc. (a)		10,104		206,930
Hawaiian Holdings, Inc. (a)		24,292		576,935
PHI, Inc. (a)		6,221		186,754
Republic Airways Holdings, Inc. (a)		26,639		244,546
SkyWest, Inc.		26,150		393,296
Virgin America, Inc. (a)		12,714		349,381
				5,071,738
Alternative Energy — 0.2%
Abengoa Yield PLC		24,544		768,718
Ameresco, Inc., Class A (a)		10,588		80,998
EnerNOC, Inc. (a)		13,586		131,784
Green Brick Partners, Inc. (a)		7,138		78,161
Green Plains Renewable Energy, Inc.		19,183		528,492
REX American Resources Corp. (a)		3,437		218,731
Solazyme, Inc. (a)(b)		41,674		130,857
Vivint Solar, Inc. (a)(b)		10,343		125,874
				2,063,615
Common Stocks	Shares		Value
Aluminum — 0.1%
Century Aluminum Co. (a)		25,123		262,033
Kaiser Aluminum Corp.		8,551		710,417
				972,450
Asset Management & Custodian — 0.6%
Arlington Asset Investment Corp.		8,623		168,666
Ashford, Inc. (a)		510		44,508
Calamos Asset Management, Inc., Class A		8,959		109,748
CIFC Corp.		3,012		23,885
Cohen & Steers, Inc.		10,248		349,252
Cowen Group, Inc., Class A (a)		57,245		366,368
Diamond Hill Investment Group, Inc.		1,513		302,086
Fifth Street Asset Management, Inc.		2,870		29,504
Financial Engines, Inc.		26,173		1,111,829
GAMCO Investors, Inc., Class A		3,195		219,528
KCG Holdings, Inc., Class A (a)		22,497		277,388
Medley Management, Inc.		3,817		45,193
OM Asset Management PLC		12,461		221,681
Oppenheimer Holdings, Inc., Class A		5,178		136,078
Pzena Investment Management, Inc., Class A		6,495		71,770
RCS Capital Corp., Class A (a)		24,493		187,616
Resource America, Inc., Class A		8,345		70,181
Virtus Investment Partners, Inc.		3,465		458,246
Westwood Holdings Group, Inc.		3,828		228,034
WisdomTree Investments, Inc.		57,570		1,264,525
ZAIS Group Holdings, Inc. (a)		1,748		19,053
				5,705,139
Auto Parts — 0.8%
American Axle & Manufacturing Holdings, Inc. (a)		38,556		806,206
Dana Holding Corp.		82,418		1,696,162
Dorman Products, Inc. (a)		13,382		637,786
Federal-Mogul Corp. (a)		15,138		171,816
Fenix Parts, Inc. (a)		6,805		68,186
Fox Factory Holding Corp. (a)		8,063		129,653
Gentherm, Inc. (a)		18,080		992,773
Meritor, Inc. (a)		49,483		649,217
Metaldyne Performance Group, Inc.		5,712		103,673
Remy International, Inc.		14,205		314,072
Standard Motor Products, Inc.		9,995		351,024
Stoneridge, Inc. (a)		14,046		164,479
Superior Industries International, Inc.		11,360		208,002
Tenneco, Inc. (a)		30,913		1,775,643
Tower International, Inc. (a)		10,796		281,236
				8,349,928
Auto Services — 0.1%
Cooper Tire & Rubber Co.		29,148		986,077
Back Office Support, HR & Consulting — 1.9%
6D Global Technologies, Inc. (a)		9,572		62,601
The Advisory Board Co. (a)		21,464		1,173,437
Angie’s List, Inc. (a)		22,416		138,082
Arrowhead Research Corp. (a)(b)		29,993		214,450
Barrett Business Services, Inc.		3,579		129,989
CBIZ, Inc. (a)		25,269		243,593
CDI Corp.		7,357		95,641
CEB, Inc.		16,975		1,477,843
Convergys Corp.		50,208		1,279,802
CRA International, Inc. (a)		4,807		133,971
DHI Group, Inc. (a)		22,366		198,834
ExlService Holdings, Inc. (a)		16,897		584,298
Forrester Research, Inc.		5,129		184,747
FTI Consulting, Inc. (a)		21,110		870,576
GP Strategies Corp. (a)		6,581		218,752
The Hackett Group, Inc.		12,423		166,841
Heidrick & Struggles International, Inc.		9,434		246,039
Huron Consulting Group, Inc. (a)		11,746		823,277

See Notes to Financial Statements.

34 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Back Office Support, HR & Consulting (concluded)
ICF International, Inc. (a)		10,044	$	350,134
Insperity, Inc.		9,793		498,464
Kelly Services, Inc., Class A		14,881		228,423
Kforce, Inc.		12,476		285,326
Korn/Ferry International		25,475		885,766
Liquidity Services, Inc. (a)		12,470		120,086
MAXIMUS, Inc.		33,379		2,194,002
Monster Worldwide, Inc. (a)		45,774		299,362
Navigant Consulting, Inc. (a)		24,598		365,772
NV5 Holdings, Inc. (a)		2,603		63,149
On Assignment, Inc. (a)		26,146		1,027,015
Patriot National, Inc. (a)		4,601		73,616
Paylocity Holding Corp. (a)		7,848		281,351
PFSweb, Inc. (a)		5,860		81,220
Resources Connection, Inc.		19,293		310,424
RPX Corp. (a)		27,640		467,116
ServiceSource International, Inc. (a)		29,988		164,034
Sykes Enterprises, Inc. (a)		19,864		481,702
TeleTech Holdings, Inc.		8,371		226,687
TriNet Group, Inc. (a)		20,816		527,686
TrueBlue, Inc. (a)		21,187		633,491
Volt Information Sciences, Inc. (a)		4,484		43,540
WageWorks, Inc. (a)		18,057		730,406
				18,581,545
Banks: Diversified — 7.9%
1st Source Corp.		7,379		251,771
Access National Corp.		3,359		65,299
Ambac Financial Group, Inc. (a)		17,555		292,115
American National Bankshares, Inc.		4,432		105,526
Ameris Bancorp		16,111		407,447
Ames National Corp.		4,424		111,042
Anchor BanCorp Wisconsin, Inc. (a)		3,801		144,362
Arrow Financial Corp.		5,405		146,097
Bancfirst Corp.		3,490		228,421
Banco Latinoamericano de Comercio Exterior SA		15,396		495,443
The Bancorp, Inc. (a)		17,098		158,669
BancorpSouth, Inc.		49,078		1,264,249
Bank of Marin Bancorp		3,037		154,492
Bank of the Ozarks, Inc.		39,443		1,804,517
Banner Corp.		10,658		510,838
Bar Harbor Bankshares		2,662		94,315
BBCN Bancorp, Inc.		40,315		596,259
BBX Capital Corp. (a)		1,551		25,188
Beneficial Bancorp, Inc. (a)		41,254		515,262
BNC Bancorp		11,965		231,283
Boston Private Financial Holdings, Inc.		41,703		559,237
Bridge Bancorp, Inc.		5,957		158,992
Bridge Capital Holdings (a)		4,971		148,136
Bryn Mawr Bank Corp.		8,448		254,792
Camden National Corp.		3,721		144,003
Capital City Bank Group, Inc.		5,174		79,007
Capitol Federal Financial, Inc.		71,197		857,212
Cardinal Financial Corp.		16,265		354,414
Cascade Bancorp (a)		14,544		75,338
Cathay General Bancorp		40,443		1,312,375
Centerstate Banks, Inc.		22,357		302,043
Central Pacific Financial Corp.		11,614		275,833
Century Bancorp, Inc., Class A		1,790		72,781
Charter Financial Corp.		8,275		102,693
Chemical Financial Corp.		16,921		559,408
Citizens & Northern Corp.		5,955		122,375
City Holding Co.		7,590		373,807
CNB Financial Corp.		7,463		137,319
CoBiz Financial, Inc.		18,716		244,618
Columbia Banking System, Inc.		29,223		950,916
Community Bank System, Inc.		20,621		778,855
Common Stocks	Shares		Value
Banks: Diversified (continued)
Community Trust Bancorp, Inc.		7,795		271,812
CommunityOne Bancorp (a)		5,682		61,195
ConnectOne Bancorp, Inc.		14,364		309,257
CU Bancorp (a)		8,054		178,477
Customers Bancorp, Inc. (a)		13,822		371,674
CVB Financial Corp.		53,849		948,281
Eagle Bancorp, Inc. (a)		15,056		661,862
Enterprise Bancorp, Inc.		3,640		85,322
Enterprise Financial Services Corp.		10,274		233,939
EverBank Financial Corp.		48,366		950,392
Farmers Capital Bank Corp. (a)		3,646		103,656
Fidelity Southern Corp.		8,829		153,978
Financial Institutions, Inc.		7,316		181,729
First Bancorp, Inc.		4,908		95,412
First Bancorp, North Carolina		10,354		172,705
First BanCorp, Puerto Rico (a)		59,021		284,481
First Busey Corp.		35,704		234,575
First Business Financial Services, Inc.		2,135		100,089
First Citizens BancShares, Inc., Class A		3,915		1,029,802
First Commonwealth Financial Corp.		45,826		439,471
First Community Bancshares, Inc.		8,380		152,684
First Connecticut Bancorp, Inc.		8,288		131,531
First Financial Bancorp		30,536		547,816
First Financial Bankshares, Inc.		32,349		1,120,569
First Financial Corp.		5,544		198,253
First Interstate Bancsystem, Inc.		9,693		268,884
First Merchants Corp.		19,014		469,646
First Midwest Bancorp, Inc.		39,698		753,071
First NBC Bank Holding Co. (a)		7,758		279,288
The First of Long Island Corp.		6,443		178,600
FirstMerit Corp.		84,101		1,751,824
Flagstar Bancorp, Inc. (a)		10,661		197,015
FNB Corp.		89,022		1,274,795
Franklin Financial Network, Inc. (a)		2,739		62,833
Fulton Financial Corp.		87,759		1,146,133
German American Bancorp, Inc.		6,735		198,346
Glacier Bancorp, Inc.		38,201		1,123,873
Great Western Bancorp, Inc.		20,691		498,860
Guaranty Bancorp		7,702		127,160
Hampton Roads Bankshares, Inc. (a)		19,070		39,666
Hancock Holding Co.		39,321		1,254,733
Hanmi Financial Corp.		16,076		399,328
Heartland Financial USA, Inc.		8,969		333,826
Heritage Commerce Corp.		11,043		106,123
Heritage Oaks Bancorp		12,105		95,266
Home BancShares, Inc.		28,746		1,050,954
Horizon Bancorp		4,687		116,988
Hudson Valley Holding Corp.		7,806		220,207
Iberiabank Corp.		19,167		1,307,764
Independent Bank Corp./MA		13,126		615,478
Independent Bank Corp./MI		8,253		111,911
Independent Bank Group, Inc.		4,906		210,467
International Bancshares Corp.		27,499		738,898
Janus Capital Group, Inc.		74,557		1,276,416
Lakeland Bancorp, Inc.		19,759		234,935
Lakeland Financial Corp.		8,306		360,231
MainSource Financial Group, Inc.		10,723		235,370
MB Financial, Inc.		37,834		1,303,003
Mercantile Bank Corp.		8,585		183,805
Merchants Bancshares, Inc.		2,406		79,566
Metro Bancorp, Inc.		6,190		161,807
National Bank Holdings Corp., Class A		18,688		389,271
National Bankshares, Inc.		3,352		98,080
National Commerce Corp. (a)		2,876		74,201
National Penn Bancshares, Inc.		70,809		798,726
NBT Bancorp, Inc.		22,034		576,630
NewBridge Bancorp		17,592		157,097

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 35

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

Common Stocks	Shares		Value
Banks: Diversified (concluded)
OFG Bancorp		22,898	$	244,322
Old National Bancorp		59,492		860,254
Old Second Bancorp, Inc. (a)		10,762		71,029
Opus Bank		5,121		185,278
Pacific Continental Corp.		10,119		136,910
Pacific Premier Bancorp, Inc. (a)		11,130		188,765
Palmetto Bancshares, Inc.		2,178		43,059
Park National Corp.		6,425		561,352
Park Sterling Corp.		24,207		174,290
Peapack Gladstone Financial Corp.		7,935		176,316
Penns Woods Bancorp, Inc.		2,435		107,359
Peoples Bancorp, Inc.		8,958		209,080
Peoples Financial Services Corp.		3,833		151,825
Pinnacle Financial Partners, Inc.		18,201		989,588
Preferred Bank		5,956		178,978
PrivateBancorp, Inc.		39,743		1,582,566
Prosperity Bancshares, Inc.		35,416		2,044,920
Provident Financial Services, Inc.		33,046		627,544
QCR Holdings, Inc.		5,735		124,794
Renasant Corp.		15,829		516,025
Republic Bancorp, Inc., Class A		5,165		132,741
S&T Bancorp, Inc.		17,201		508,978
Sandy Spring Bancorp, Inc.		12,485		349,330
Seacoast Banking Corp. of Florida (a)		11,339		179,156
ServisFirst Bancshares, Inc.		10,811		406,169
Sierra Bancorp		6,314		109,295
Simmons First National Corp., Class A		14,732		687,690
South State Corp.		12,258		931,485
Southside Bancshares, Inc.		12,781		373,589
Southwest Bancorp, Inc.		9,836		183,048
Square 1 Financial, Inc. (a)		8,513		232,831
State Bank Financial Corp.		18,161		394,094
Stock Yards Bancorp, Inc.		7,464		282,065
Stonegate Bank		5,294		157,073
Suffolk Bancorp		5,953		152,754
Susquehanna Bancshares, Inc.		93,061		1,314,021
Talmer Bancorp, Inc., Class A		27,312		457,476
Texas Capital Bancshares, Inc. (a)		23,156		1,441,229
Tompkins Financial Corp.		7,514		403,652
TowneBank		22,780		371,086
Trico Bancshares		11,549		277,753
Tristate Capital Holdings, Inc. (a)		11,077		143,226
Triumph Bancorp, Inc. (a)		7,395		97,244
TrustCo Bank Corp. NY		47,795		335,999
Trustmark Corp.		34,091		851,593
UMB Financial Corp.		19,827		1,130,536
Umpqua Holdings Corp.		111,132		1,999,265
Union Bankshares Corp.		22,661		526,642
United Bankshares, Inc.		34,996		1,407,889
United Community Banks, Inc.		24,997		521,687
United Community Financial Corp.		25,932		138,736
Univest Corp. of Pennsylvania		9,221		187,740
Valley National Bancorp		118,133		1,217,951
Washington Trust Bancorp, Inc.		7,363		290,691
Webster Financial Corp.		46,152		1,825,312
WesBanco, Inc.		18,937		644,237
West BanCorp., Inc.		8,410		166,854
Westamerica BanCorp		12,796		648,117
Western Alliance Bancorp (a)		39,575		1,336,052
Wilshire Bancorp, Inc.		36,162		456,726
Wintrust Financial Corp.		24,014		1,281,867
Yadkin Financial Corp. (a)		12,433		260,471
				79,335,390
Banks: Savings, Thrift & Mortgage Lending — 1.4%
Apollo Residential Mortgage, Inc.		16,286		239,241
Astoria Financial Corp.		45,663		629,693
Common Stocks	Shares		Value
Banks: Savings, Thrift & Mortgage Lending (concluded)
Banc of California, Inc.		18,343		252,216
Bank Mutual Corp.		24,291		186,312
BankFinancial Corp.		9,713		114,419
Bear State Financial, Inc. (a)		5,997		56,012
Berkshire Hills Bancorp, Inc.		14,985		426,773
BofI Holding, Inc. (a)		7,815		826,124
Brookline Bancorp, Inc.		35,931		405,661
BSB Bancorp, Inc. (a)		3,755		83,023
Clifton Bancorp, Inc.		13,165		184,178
Dime Community Bancshares, Inc.		15,835		268,245
First Defiance Financial Corp.		4,712		176,841
Flushing Financial Corp.		15,112		317,503
Fox Chase Bancorp, Inc.		5,656		95,700
Great Southern Bancorp, Inc.		5,422		228,483
Heritage Financial Corp.		15,615		279,040
Heritage Financial Group, Inc.		4,554		137,440
Hingham Institution for Savings		589		67,800
HomeStreet, Inc. (a)		11,276		257,318
Investors Bancorp, Inc.		176,125		2,166,337
Kearny Financial Corp. (a)		46,708		521,261
Ladder Capital Corp., Class A		19,552		339,227
LegacyTexas Financial Group, Inc.		23,845		720,119
Meridian Bancorp, Inc. (a)		27,343		366,670
Northfield Bancorp, Inc.		23,682		356,414
Northwest Bancshares, Inc.		47,663		611,040
OceanFirst Financial Corp.		6,798		126,783
Ocwen Financial Corp. (a)		54,124		552,065
Oritani Financial Corp.		22,181		356,005
Sterling Bancorp		46,375		681,713
Territorial Bancorp, Inc.		4,134		100,291
United Financial Bancorp, Inc.		25,253		339,653
Washington Federal, Inc.		47,930		1,119,165
Waterstone Financial, Inc.		15,622		206,210
WSFS Financial Corp.		14,241		389,491
				14,184,466
Beverage: Brewers & Distillers — 0.1%
The Boston Beer Co., Inc., Class A (a)		4,579		1,062,282
Castle Brands, Inc. (a)		30,835		42,861
Craft Brew Alliance, Inc. (a)		5,710		63,152
				1,168,295
Beverage: Soft Drinks — 0.1%
Coca-Cola Bottling Co. Consolidated		2,340		353,504
Farmer Bros Co. (a)		3,848		90,428
National Beverage Corp. (a)		5,703		128,260
				572,192
Biotechnology — 5.6%
Acceleron Pharma, Inc. (a)		10,932		345,888
Acorda Therapeutics, Inc. (a)		21,606		720,128
Aduro Biotech, Inc. (a)		4,226		128,175
Advaxis, Inc. (a)		15,296		310,968
Aegerion Pharmaceuticals, Inc. (a)		12,744		241,754
Affimed NV (a)		7,693		103,625
Agenus, Inc. (a)		38,485		332,126
Akebia Therapeutics, Inc. (a)		11,821		121,638
Albany Molecular Research, Inc. (a)		12,364		250,000
Alder Biopharmaceuticals, Inc. (a)		10,398		550,782
Alimera Sciences, Inc. (a)		15,058		69,417
AMAG Pharmaceuticals, Inc. (a)		8,505		587,355
Amicus Therapeutics, Inc. (a)		48,563		687,166
ANI Pharmaceuticals, Inc. (a)		3,985		247,269
Anthera Pharmaceuticals, Inc. (a)		18,083		155,875
Applied Genetic Technologies Corp. (a)		4,257		65,302
Ardelyx, Inc. (a)		6,055		96,698
Arena Pharmaceuticals, Inc. (a)		122,028		566,210

See Notes to Financial Statements.

36 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Biotechnology (continued)
Ariad Pharmaceuticals, Inc. (a)		84,530	$	699,063
Array BioPharma, Inc. (a)		71,338		514,347
Assembly Biosciences, Inc. (a)		7,055		135,879
Asterias Biotherapeutics, Inc. (a)		5,229		24,053
Atara Biotherapeutics, Inc. (a)		7,284		384,304
aTyr Pharma, Inc. (a)		3,061		56,690
Avalanche Biotechnologies, Inc. (a)		9,857		160,078
Bellicum Pharmaceuticals, Inc. (a)		4,289		91,227
BioCryst Pharmaceuticals, Inc. (a)		36,565		545,915
BioDelivery Sciences International, Inc. (a)		23,530		187,299
BioTelemetry, Inc. (a)		14,600		137,678
Biotime, Inc. (a)(b)		27,703		100,562
Blueprint Medicines Corp. (a)		4,719		125,006
Calithera Biosciences, Inc. (a)(b)		5,615		40,091
Carbylan Therapeutics, Inc. (a)		6,127		43,808
Catalyst Pharmaceutical Partners, Inc. (a)		37,692		155,668
Celldex Therapeutics, Inc. (a)		49,729		1,254,165
Cellular Biomedicine Group, Inc. (a)		4,974		186,575
Cepheid, Inc. (a)		36,294		2,219,378
ChemoCentryx, Inc. (a)		14,743		121,335
Cidara Therapeutics, Inc. (a)		2,410		33,788
Clovis Oncology, Inc. (a)		12,566		1,104,300
Coherus Biosciences, Inc. (a)		11,834		342,003
Collegium Pharmaceutical, Inc. (a)		3,371		60,139
Corium International, Inc. (a)		4,199		57,484
CTI BioPharma Corp. (a)		81,214		158,367
Curis, Inc. (a)		55,689		184,331
Cytokinetics, Inc. (a)		18,010		121,027
CytRx Corp. (a)(b)		28,762		106,995
Dermira, Inc. (a)		6,254		109,758
Dyax Corp. (a)		73,492		1,947,538
Dynavax Technologies Corp. (a)		14,804		346,784
Emergent Biosolutions, Inc. (a)		15,201		500,873
Epizyme, Inc. (a)		14,577		349,848
Exact Sciences Corp. (a)		44,825		1,333,095
Exelixis, Inc. (a)(b)		99,069		372,499
Fibrocell Science, Inc. (a)		12,133		63,941
FibroGen, Inc. (a)		24,102		566,397
Five Prime Therapeutics, Inc. (a)		10,782		267,825
Flex Pharma, Inc. (a)		2,873		49,416
Foundation Medicine, Inc. (a)(b)		6,057		204,969
Galena Biopharma, Inc. (a)		83,479		141,914
GenMark Diagnostics, Inc. (a)		21,045		190,668
Genocea Biosciences, Inc. (a)		9,171		125,918
Genomic Health, Inc. (a)		8,829		245,358
Geron Corp. (a)		80,021		342,490
Halozyme Therapeutics, Inc. (a)		53,551		1,209,182
Harvard Bioscience, Inc. (a)		15,343		87,455
Heron Therapeutics, Inc. (a)		12,437		387,537
Idera Pharmaceuticals, Inc. (a)(b)		44,732		165,956
IGI Laboratories, Inc. (a)(b)		21,049		132,609
Ignyta, Inc. (a)		9,170		138,375
Immunogen, Inc. (a)		43,486		625,329
Immunomedics, Inc. (a)		48,339		196,256
INC Research Holdings, Inc., Class A (a)		6,559		263,147
Inovio Pharmaceuticals, Inc. (a)		36,330		296,453
Insmed, Inc. (a)		30,919		755,042
Insys Therapeutics, Inc. (a)		11,931		428,562
Invitae Corp. (a)		3,830		56,990
Karyopharm Therapeutics, Inc. (a)		11,561		314,575
Keryx Biopharmaceuticals, Inc. (a)(b)		52,236		521,315
Lexicon Pharmaceuticals, Inc. (a)		20,432		164,478
Ligand Pharmaceuticals, Inc., Class B (a)		8,875		895,488
Lion Biotechnologies, Inc. (a)		22,559		206,866
Loxo Oncology, Inc. (a)		3,845		69,325
MacroGenics, Inc. (a)		14,185		538,604
MannKind Corp. (a)(b)		124,370		707,665
Common Stocks	Shares		Value
Biotechnology (concluded)
Medgenics, Inc. (a)		8,070		49,469
Merrimack Pharmaceuticals, Inc. (a)		55,465		685,825
Mirati Therapeutics, Inc. (a)		4,977		156,626
Momenta Pharmaceuticals, Inc. (a)		30,789		702,297
Myriad Genetics, Inc. (a)		34,825		1,183,702
Nektar Therapeutics (a)		66,359		830,151
Neurocrine Biosciences, Inc. (a)		43,110		2,058,934
NewLink Genetics Corp. (a)		10,476		463,773
Northwest Biotherapeutics, Inc. (a)(b)		23,095		229,333
Novavax, Inc. (a)		135,247		1,506,652
Ocata Therapeutics, Inc. (a)		17,444		91,930
Omeros Corp. (a)		19,102		343,645
OncoMed Pharmaceuticals, Inc. (a)		8,532		191,970
Oncothyreon, Inc. (a)		51,318		191,929
Ophthotech Corp. (a)		11,907		619,878
Orexigen Therapeutics, Inc. (a)		51,972		257,261
Organovo Holdings, Inc. (a)(b)		40,878		154,110
Osiris Therapeutics, Inc. (a)		9,712		188,996
Pacific Biosciences of California, Inc. (a)		30,573		176,100
PDL BioPharma, Inc.		83,638		537,792
Peregrine Pharmaceuticals, Inc. (a)		92,875		121,666
Pfenex, Inc. (a)		8,184		158,770
PRA Health Sciences, Inc. (a)		10,183		369,948
Progenics Pharmaceuticals, Inc. (a)		35,226		262,786
Proteon Therapeutics, Inc. (a)		3,720		66,439
Prothena Corp. PLC (a)		15,793		831,817
PTC Therapeutics, Inc. (a)		17,067		821,435
RadNet, Inc. (a)		16,937		113,309
Raptor Pharmaceutical Corp. (a)		40,578		640,727
Regulus Therapeutics, Inc. (a)		14,277		156,476
Repligen Corp. (a)		16,578		684,174
Retrophin, Inc. (a)		17,653		585,197
Rigel Pharmaceuticals, Inc. (a)		43,340		139,121
Rockwell Medical, Inc. (a)(b)		25,024		403,387
RTI Surgical, Inc. (a)		29,054		187,689
Sage Therapeutics, Inc. (a)		6,950		507,350
Sangamo Biosciences, Inc. (a)		35,027		388,449
Sarepta Therapeutics, Inc. (a)		20,924		636,717
Sequenom, Inc. (a)		58,892		179,032
Sorrento Therapeutics, Inc. (a)		14,306		252,072
Spark Therapeutics, Inc. (a)		4,077		245,721
Stemline Therapeutics, Inc. (a)		7,911		93,112
Sucampo Pharmaceuticals, Inc., Class A (a)		12,631		207,527
Synergy Pharmaceuticals, Inc. (a)(b)		50,398		418,303
Synta Pharmaceuticals Corp. (a)		45,785		102,101
TESARO, Inc. (a)		11,738		690,077
Theravance, Inc. (b)		42,929		775,727
Threshold Pharmaceuticals, Inc. (a)		30,993		125,212
Tobira Therapeutics, Inc. (a)		1,239		21,373
Tokai Pharmaceuticals, Inc. (a)(b)		4,736		62,989
Trevena, Inc. (a)		11,999		75,114
Trovagene, Inc. (a)		12,287		124,713
Vanda Pharmaceuticals, Inc. (a)		21,023		266,782
Veracyte, Inc. (a)		6,683		74,449
Verastem, Inc. (a)		16,460		124,108
Versartis, Inc. (a)		11,235		170,997
Vitae Pharmaceuticals, Inc. (a)		6,631		95,486
Vital Therapies, Inc. (a)(b)		8,337		175,911
West Pharmaceutical Services, Inc.		36,447		2,116,842
Wright Medical Group, Inc. (a)		26,057		684,257
XBiotech, Inc. (a)		2,031		36,720
Xencor Inc. (a)		14,310		314,391
XOMA Corp. (a)		46,399		180,028
ZIOPHARM Oncology, Inc. (a)(b)		57,860		694,320
				56,255,625

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 37

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

Common Stocks	Shares		Value
Building Materials — 0.7%
Builders FirstSource, Inc. (a)		23,473	$	301,393
Continental Building Products, Inc. (a)		16,053		340,163
Gibraltar Industries, Inc. (a)		15,603		317,833
Griffon Corp.		17,457		277,916
Headwaters, Inc. (a)		37,365		680,790
Louisiana-Pacific Corp. (a)		72,289		1,231,082
LSI Industries, Inc.		11,362		106,121
Masonite International Corp. (a)		15,234		1,068,056
NCI Building Systems, Inc. (a)		13,799		207,951
Patrick Industries, Inc. (a)		6,582		250,445
PGT, Inc. (a)		24,431		354,494
Quanex Building Products Corp.		17,246		369,582
Simpson Manufacturing Co., Inc.		21,165		719,610
Stock Building Supply Holdings, Inc. (a)		7,378		144,240
Summit Materials, Inc., Class A (a)		12,918		329,409
Trex Co., Inc. (a)		16,301		805,758
				7,504,843
Building: Climate Control — 0.1%
AAON, Inc.		20,582		463,507
Comfort Systems USA, Inc.		18,935		434,558
Nortek, Inc. (a)		4,818		400,520
				1,298,585
Building: Roofing, Wallboard & Plumbing — 0.1%
Beacon Roofing Supply, Inc. (a)		25,113		834,254
Casinos & Gambling — 0.3%
Boyd Gaming Corp. (a)		41,582		621,651
Caesars Acquisition Co., Class A (a)		24,430		168,078
Caesars Entertainment Corp. (a)(b)		28,153		172,296
Eldorado Resorts, Inc. (a)		14,774		115,533
Empire Resorts, Inc. (a)(b)		7,240		36,852
Isle of Capri Casinos, Inc. (a)		11,825		214,624
Monarch Casino & Resort, Inc. (a)		5,650		116,164
Penn National Gaming, Inc. (a)		41,155		755,194
Pinnacle Entertainment, Inc. (a)		23,194		864,672
Scientific Games Corp., Class A (a)(b)		25,420		395,027
				3,460,091
Cement — 0.0%
US Concrete, Inc. (a)		7,512		284,630
Chemicals: Diversified — 1.0%
Aceto Corp.		14,758		363,490
American Vanguard Corp.		14,810		204,378
Axiall Corp.		35,489		1,279,378
Chemtura Corp. (a)		34,058		964,182
Hawkins, Inc.		5,287		213,542
Innophos Holdings, Inc.		10,456		550,404
KMG Chemicals, Inc.		5,021		127,734
Landec Corp. (a)		13,567		195,772
LSB Industries, Inc. (a)		9,964		406,930
Olin Corp.		39,211		1,056,736
OM Group, Inc.		15,230		511,728
OMNOVA Solutions, Inc. (a)		23,430		175,491
PolyOne Corp.		44,983		1,761,984
Rayonier Advanced Materials, Inc.		20,489		333,151
Sensient Technologies Corp.		23,548		1,609,270
Tronox Ltd., Class A		32,012		468,336
				10,222,506
Chemicals: Specialty — 0.5%
Balchem Corp.		15,670		873,133
Calgon Carbon Corp.		26,476		513,105
FutureFuel Corp.		11,997		154,401
Innospec, Inc.		12,156		547,506
Kraton Performance Polymers, Inc. (a)		15,897		379,620
Polypore International, Inc. (a)		22,712		1,359,995
Common Stocks	Shares		Value
Chemicals: Specialty (concluded)
Quaker Chemical Corp.		6,710		596,116
Stepan Co.		9,746		527,356
Valhi, Inc.		8,132		46,027
				4,997,259
Coal — 0.1%
Cloud Peak Energy, Inc. (a)		31,288		145,802
Hallador Energy Co.		4,864		40,566
Peabody Energy Corp.		139,672		305,882
Westmoreland Coal Co. (a)		8,907		185,087
				677,337
Commercial Banks — 0.1%
Blue Hills Bancorp, Inc. (a)		14,285		199,990
C1 Financial, Inc. (a)(b)		2,832		54,884
Green Bancorp, Inc. (a)		4,969		76,324
HomeTrust Bancshares, Inc. (a)		10,600		177,656
Sun Bancorp, Inc. (a)		4,107		79,060
				587,914
Commercial Finance & Mortgage Companies — 0.2%
Capital Bank Financial Corp., Class A (a)		11,463		333,229
Federal Agricultural Mortgage Corp., Class C		5,486		159,423
Impac Mortgage Holdings, Inc. (a)		4,418		84,561
Meta Financial Group, Inc.		3,366		144,469
Nationstar Mortgage Holdings, Inc. (a)		19,934		334,891
NewStar Financial, Inc. (a)		12,319		135,509
On Deck Capital, Inc. (a)(b)		5,542		64,176
PennyMac Financial Services, Inc. (a)(c)		5,912		107,125
RE/MAX Holdings, Inc., Class A		5,997		212,954
Stonegate Mortgage Corp. (a)		7,665		77,187
Walker & Dunlop, Inc. (a)		13,372		357,567
				2,011,091
Commercial Services & Supplies — 0.1%
ARC Document Solutions, Inc. (a)		21,370		162,626
Civeo Corp.		53,588		164,515
Collectors Universe, Inc.		3,723		74,237
Hill International, Inc. (a)		19,052		100,213
LifeLock, Inc. (a)		47,489		778,819
National Research Corp.		5,122		72,784
National Research Corp., Class B		262		8,853
Weight Watchers International, Inc. (a)(b)		13,867		67,255
				1,429,302
Commercial Services: Rental & Leasing — 0.4%
Aircastle Ltd.		31,570		715,692
CAI International, Inc. (a)		8,986		185,022
Electro Rent Corp.		8,402		91,246
H&E Equipment Services, Inc.		15,764		314,807
Marlin Business Services Corp.		4,328		73,057
McGrath RentCorp		13,078		397,963
Mobile Mini, Inc.		23,083		970,409
Neff Corp., Class A (a)		6,007		60,611
PHH Corp. (a)		25,201		655,982
TAL International Group, Inc. (a)		16,849		532,428
				3,997,217
Commercial Vehicles & Parts — 0.3%
Accuride Corp. (a)		19,665		75,710
Blue Bird Corp. (a)		2,361		30,669
Commercial Vehicle Group, Inc. (a)		15,733		113,435
Cooper-Standard Holding, Inc. (a)		6,810		418,611
Miller Industries, Inc.		5,742		114,553
Modine Manufacturing Co. (a)		24,107		258,668
Motorcar Parts of America, Inc. (a)		9,037		271,923
Navistar International Corp. (a)		25,720		582,044
Rush Enterprises, Inc., Class A (a)		17,817		466,984

See Notes to Financial Statements.

38 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Commercial Vehicles & Parts (concluded)
Strattec Security Corp.		1,873	$	128,675
Wabash National Corp. (a)		34,478		432,354
				2,893,626
Communications Equipment — 0.1%
Aerohive Networks, Inc. (a)		11,398		79,558
Polycom, Inc. (a)		68,156		779,705
Ruckus Wireless, Inc. (a)		37,918		392,072
				1,251,335
Communications Technology — 1.5%
ADTRAN, Inc.		26,932		437,645
Alliance Fiber Optic Products, Inc.		7,453		138,253
Anixter International, Inc. (a)		14,391		937,574
Bel Fuse, Inc., Class B		5,357		109,926
Black Box Corp.		7,559		151,180
Calix, Inc. (a)		22,402		170,479
Ciena Corp. (a)		59,372		1,405,929
Comtech Telecommunications Corp.		8,225		238,936
Cyan, Inc. (a)		14,835		77,735
Datalink Corp. (a)		10,854		97,035
Digi International, Inc. (a)		12,505		119,423
DigitalGlobe, Inc. (a)		36,631		1,017,976
Extreme Networks, Inc. (a)		49,069		131,996
Finisar Corp. (a)		52,485		937,907
General Cable Corp.		24,701		487,351
Harmonic, Inc. (a)		44,739		305,567
Infinera Corp. (a)		65,477		1,373,707
Intelsat SA (a)(b)		14,297		141,826
InterDigital, Inc.		18,188		1,034,715
Ixia (a)		30,457		378,885
KVH Industries, Inc. (a)		8,279		111,353
Loral Space & Communications, Inc. (a)		6,516		411,290
NeoPhotonics Corp. (a)		14,220		129,829
NETGEAR, Inc. (a)		17,395		522,198
Novatel Wireless, Inc. (a)		18,913		61,467
Pacific DataVision, Inc. (a)		6,488		273,339
Plantronics, Inc.		19,743		1,111,728
QLogic Corp. (a)		44,114		625,978
RingCentral, Inc., Class A (a)		26,923		497,806
Seachange International, Inc. (a)		16,626		116,548
ShoreTel, Inc. (a)		32,477		220,194
Sonus Networks, Inc. (a)		25,009		173,062
TeleNav, Inc. (a)		14,084		113,376
ViaSat, Inc. (a)		21,529		1,297,338
				15,359,551
Computer Services Software & Systems — 5.8%
A10 Networks, Inc. (a)		16,730		107,741
ACI Worldwide, Inc. (a)		58,865		1,446,313
Acxiom Corp. (a)		39,553		695,342
American Software, Inc., Class A		12,436		118,142
Apigee Corp. (a)		2,319		23,028
Aspen Technology, Inc. (a)		43,083		1,962,431
AVG Technologies NV (a)		20,674		562,540
Avid Technology, Inc. (a)		16,190		215,975
Bankrate, Inc. (a)		33,792		354,478
Barracuda Networks, Inc. (a)		4,044		160,223
Bazaarvoice, Inc. (a)		30,563		180,016
Benefitfocus, Inc. (a)		3,981		174,567
Blackbaud, Inc.		23,656		1,347,209
Blucora, Inc. (a)		20,720		334,628
Bottomline Technologies, Inc. (a)		20,544		571,329
Box, Inc., Class A (a)(b)		6,425		119,762
Brightcove, Inc. (a)		16,147		110,768
BroadSoft, Inc. (a)		14,704		508,317
CACI International, Inc., Class A (a)		12,340		998,183
Common Stocks	Shares		Value
Computer Services Software & Systems (continued)
Callidus Software, Inc. (a)		27,861		434,074
CIBER, Inc. (a)		41,383		142,771
Code Rebel Corp. (a)		557		18,030
CommVault Systems, Inc. (a)		22,778		966,015
ComScore, Inc. (a)		17,368		925,020
Connecture, Inc. (a)		3,751		39,611
Cornerstone OnDemand, Inc. (a)		27,184		946,003
CSG Systems International, Inc.		16,704		528,849
Cvent, Inc. (a)		11,791		303,972
DealerTrack Holdings, Inc. (a)		27,634		1,735,139
Demandware, Inc. (a)		16,828		1,196,134
Digimarc Corp. (a)		3,864		174,421
Digital Turbine, Inc. (a)		23,391		70,641
Dot Hill Systems Corp. (a)		30,616		187,370
EarthLink Holdings Corp.		51,720		387,383
Ebix, Inc. (b)		13,604		443,626
Endurance International Group Holdings, Inc. (a)		29,587		611,267
Envestnet, Inc. (a)		17,920		724,506
EPAM Systems, Inc. (a)		24,663		1,756,745
EPIQ Systems, Inc.		16,366		276,258
ePlus, Inc. (a)		2,799		214,543
Guidance Software, Inc. (a)		9,996		84,666
Guidewire Software, Inc. (a)		35,386		1,872,981
Hortonworks, Inc. (a)(b)		3,736		94,596
HubSpot, Inc. (a)		9,469		469,473
iGATE Corp. (a)		18,342		874,730
Imperva, Inc. (a)		13,422		908,669
Infoblox, Inc. (a)		28,773		754,140
Interactive Intelligence Group, Inc. (a)		8,698		386,800
Internap Network Services Corp. (a)		28,530		263,902
IntraLinks Holdings, Inc. (a)		20,332		242,154
Jive Software, Inc. (a)		23,159		121,585
The KEYW Holding Corp. (a)(b)		16,813		156,697
Limelight Networks, Inc. (a)		31,045		122,317
Lionbridge Technologies, Inc. (a)		34,016		209,879
LivePerson, Inc. (a)		28,117		275,828
LogMeIn, Inc. (a)		12,424		801,224
Luxoft Holding, Inc. (a)		9,259		523,596
Manhattan Associates, Inc. (a)		37,220		2,220,173
Mantech International Corp., Class A		12,314		357,106
MaxPoint Interactive, Inc. (a)		3,335		26,947
Mentor Graphics Corp.		50,473		1,334,001
Mercury Systems, Inc. (a)		17,518		256,464
MicroStrategy, Inc., Class A (a)		4,680		795,974
Millennial Media, Inc. (a)		58,768		95,204
ModusLink Global Solutions, Inc. (a)		17,640		59,976
Monotype Imaging Holdings, Inc.		20,115		484,973
Netscout Systems, Inc. (a)		18,847		691,119
New Relic, Inc. (a)		2,916		102,614
NIC, Inc.		33,064		604,410
Nimble Storage, Inc. (a)		25,515		715,951
PDF Solutions, Inc. (a)		13,736		219,776
Pegasystems, Inc.		18,005		412,134
Perficient, Inc. (a)		17,834		343,126
Progress Software Corp. (a)		25,539		702,322
Proofpoint, Inc. (a)		19,932		1,269,070
PROS Holdings, Inc. (a)		12,074		254,882
Q2 Holdings, Inc. (a)		9,812		277,189
QAD, Inc., Class A		5,040		133,207
QLIK Technologies, Inc. (a)		46,069		1,610,572
RealNetworks, Inc. (a)		10,991		59,461
RealPage, Inc. (a)		26,615		507,548
Reis, Inc.		4,602		102,072
Rocket Fuel, Inc. (a)(b)		13,084		107,289
Rovi Corp. (a)		44,584		711,115
Sapiens International Corp. NV		11,800		122,484

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 39

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)
Science Applications International Corp.		23,316	$	1,232,251
SciQuest, Inc. (a)		13,637		201,964
Shutterstock, Inc. (a)		9,882		579,480
SPS Commerce, Inc. (a)		8,377		551,207
Synchronoss Technologies, Inc. (a)		19,548		893,930
SYNNEX Corp.		14,516		1,062,426
Syntel, Inc. (a)		15,974		758,446
Tangoe, Inc. (a)(b)		20,114		253,034
TechTarget, Inc. (a)		10,003		89,327
TeleCommunication Systems, Inc., Class A (a)		24,534		81,208
Textura Corp. (a)		10,016		278,745
Travelzoo, Inc. (a)		3,425		38,634
Tyler Technologies, Inc. (a)		16,978		2,196,614
Unisys Corp. (a)		25,491		509,565
United Online, Inc. (a)		7,350		115,175
Varonis Systems, Inc. (a)		4,511		99,648
VASCO Data Security International, Inc. (a)(b)		14,862		448,684
Verint Systems, Inc. (a)		30,923		1,878,418
VirnetX Holding Corp. (a)(b)		22,763		95,605
Virtusa Corp. (a)		14,963		769,098
Web.com Group, Inc. (a)		22,166		536,861
Wix.com Ltd. (a)		9,409		222,241
Workiva, Inc. (a)		3,340		46,192
Yodlee, Inc. (a)		9,036		130,480
Zix Corp. (a)		29,308		151,522
				58,034,521
Computer Technology — 0.6%
Cray, Inc. (a)		20,692		610,621
Diebold, Inc.		32,557		1,139,495
Imation Corp. (a)		16,041		65,126
Immersion Corp. (a)		13,943		176,658
Insight Enterprises, Inc. (a)		19,494		583,066
PC Connection, Inc.		5,352		132,409
Quantum Corp. (a)		109,250		183,540
Safeguard Scientifics, Inc. (a)		10,205		198,589
Silicon Graphics International Corp. (a)		17,845		115,457
Stratasys Ltd. (a)		25,640		895,605
Super Micro Computer, Inc. (a)		18,619		550,750
Synaptics, Inc. (a)		18,602		1,613,445
Violin Memory, Inc. (a)		46,361		113,584
				6,378,345
Construction — 0.4%
Aegion Corp. (a)		18,562		351,564
EMCOR Group, Inc.		31,713		1,514,930
Granite Construction, Inc.		19,915		707,182
Great Lakes Dredge & Dock Corp. (a)		29,990		178,740
Orion Marine Group, Inc. (a)		15,084		108,907
Primoris Services Corp.		19,604		388,159
Tutor Perini Corp. (a)		19,113		412,459
				3,661,941
Consumer Electronics — 0.2%
RealD, Inc. (a)		20,774		256,143
Skullcandy, Inc. (a)		10,985		84,255
TiVo, Inc. (a)		49,154		498,422
Universal Electronics, Inc. (a)		7,992		398,321
VOXX International Corp. (a)		10,507		86,998
XO Group, Inc. (a)		13,302		217,488
Zagg, Inc. (a)		14,864		117,723
				1,659,350
Consumer Lending — 0.7%
Cash America International, Inc.		13,875		363,386
Encore Capital Group, Inc. (a)		13,190		563,741
Enova International, Inc. (a)		13,331		249,023
Ezcorp, Inc., Class A (a)		26,096		193,893
Common Stocks	Shares		Value
Consumer Lending (concluded)
First Cash Financial Services, Inc. (a)		14,169		645,965
LendingTree, Inc. (a)		2,954		232,214
Marcus & Millichap, Inc. (a)		6,903		318,504
MGIC Investment Corp. (a)		171,882		1,956,017
MoneyGram International, Inc. (a)		14,814		136,141
Nelnet, Inc., Class A		12,032		521,106
PRA Group, Inc. (a)		24,390		1,519,741
Regional Management Corp. (a)		5,744		102,588
World Acceptance Corp. (a)		3,849		236,752
				7,039,071
Consumer Services: Miscellaneous — 0.3%
Chuy’s Holdings, Inc. (a)		8,309		222,598
Core-Mark Holding Co., Inc.		11,669		691,388
Del Frisco’s Restaurant Group, Inc. (a)		11,759		219,070
Nutrisystem, Inc.		14,578		362,701
Sotheby’s		31,361		1,418,772
Steiner Leisure Ltd. (a)		6,437		346,182
				3,260,711
Containers & Packaging — 0.3%
AEP Industries, Inc. (a)		1,966		108,523
Berry Plastics Group, Inc. (a)		60,349		1,955,308
Greif, Inc., Class A		15,418		552,735
Myers Industries, Inc.		12,321		234,099
Veritiv Corp. (a)		4,128		150,507
				3,001,172
Cosmetics — 0.1%
Elizabeth Arden, Inc. (a)(b)		13,405		191,155
Inter Parfums, Inc.		8,570		290,780
Revlon, Inc., Class A (a)		5,805		213,102
				695,037
Diversified Financial Services — 0.9%
Altisource Asset Management Corp. (a)		463		66,806
Altisource Portfolio Solutions SA (a)(b)		7,297		224,675
Blackhawk Network Holdings, Inc. (a)		27,452		1,131,022
Evercore Partners, Inc., Class A		17,424		940,199
FCB Financial Holdings, Inc., Class A (a)		14,018		445,772
FNFV Group (a)		40,112		616,923
Greenhill & Co., Inc.		14,865		614,371
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		16,344		327,697
HRG Group, Inc. (a)		39,850		518,050
JG Wentworth Co (a)		7,836		72,091
Liberty Tax, Inc.		2,775		68,681
MBIA, Inc. (a)		79,406		477,230
MidWestOne Financial Group, Inc.		3,684		121,277
Moelis & Co., Class A		8,606		247,078
Outerwall, Inc.		9,353		711,857
Piper Jaffray Cos. (a)		8,191		357,455
Real Industry, Inc. (a)		12,307		139,685
Stifel Financial Corp. (a)		34,324		1,981,868
Tiptree Financial, Inc. A REIT		13,406		97,194
				9,159,931
Diversified Manufacturing Operations — 0.5%
Barnes Group, Inc.		27,652		1,078,151
Federal Signal Corp.		31,671		472,215
Harsco Corp.		40,366		666,039
Lydall, Inc. (a)		8,589		253,891
OSI Systems, Inc. (a)		10,026		709,741
Raven Industries, Inc.		18,800		382,204
Standex International Corp.		6,424		513,470
TriMas Corp. (a)		22,895		677,692
				4,753,403

See Notes to Financial Statements.

40 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Diversified Materials & Processing — 0.5%
Belden, Inc.		21,518	$	1,747,907
Cabot Microelectronics Corp. (a)		12,370		582,751
CLARCOR, Inc.		25,233		1,570,502
Encore Wire Corp.		10,460		463,273
Insteel Industries, Inc.		9,672		180,866
Koppers Holdings, Inc.		10,372		256,396
NL Industries, Inc. (a)		3,493		25,883
Tredegar Corp.		12,691		280,598
Uranium Energy Corp. (a)		46,438		73,837
				5,182,013
Diversified Media — 0.1%
EW Scripps Co.		29,810		681,158
Hemisphere Media Group, Inc. (a)		5,395		64,201
				745,359
Diversified Retail — 0.5%
Big Lots, Inc.		27,185		1,223,053
Etsy, Inc. (a)		10,094		141,821
EVINE Live, Inc. (a)		25,199		67,785
Fred’s, Inc., Class A		18,600		358,794
HSN, Inc.		16,356		1,148,028
Overstock.com, Inc. (a)		6,269		141,303
Pricesmart, Inc.		9,726		887,400
Tuesday Morning Corp. (a)		22,215		250,252
Winmark Corp.		1,114		109,729
zulily, Inc., Class A (a)		32,994		430,242
				4,758,407
Drug & Grocery Store Chains — 0.5%
Casey’s General Stores, Inc.		19,582		1,874,781
Diplomat Pharmacy, Inc. (a)		18,215		815,121
Ingles Markets, Inc., Class A		6,767		323,260
PetMed Express, Inc.		10,074		173,978
Smart & Final Stores, Inc. (a)		12,205		218,103
Supervalu, Inc. (a)		132,245		1,069,862
Village Super Market, Inc., Class A		3,476		110,155
Weis Markets, Inc.		5,468		230,476
				4,815,736
Education Services — 0.8%
2U, Inc. (a)		12,016		386,795
American Public Education, Inc. (a)		8,682		223,301
Apollo Education Group, Inc. (a)		47,534		612,238
Bridgepoint Education, Inc. (a)		8,632		82,522
Bright Horizons Family Solutions, Inc. (a)		18,815		1,087,507
Cambium Learning Group, Inc. (a)		6,336		27,055
Capella Education Co.		6,133		329,158
Career Education Corp. (a)		34,818		114,900
Chegg, Inc. (a)		38,045		298,273
DeVry Education Group, Inc.		32,088		961,998
Franklin Covey Co. (a)		6,053		122,815
Grand Canyon Education, Inc. (a)		23,748		1,006,915
HealthStream, Inc. (a)		12,615		383,748
Houghton Mifflin Harcourt Co. (a)		68,891		1,736,053
K12, Inc. (a)		17,134		216,745
Strayer Education, Inc. (a)		5,578		240,412
Universal Technical Institute, Inc.		10,246		88,116
				7,918,551
Electronic Components — 0.7%
Acacia Research Corp.		26,254		230,248
AVX Corp.		22,264		299,673
Checkpoint Systems, Inc.		21,722		221,130
InvenSense, Inc. (a)		39,099		590,395
Methode Electronics, Inc.		19,421		533,106
Multi-Fineline Electronix, Inc. (a)		4,835		105,693
NVE Corp.		2,332		182,829
Common Stocks	Shares		Value
Electronic Components (concluded)
Park Electrochemical Corp.		10,211		195,643
Rogers Corp. (a)		9,381		620,459
Sanmina Corp. (a)		41,844		843,575
ScanSource, Inc. (a)		14,379		547,265
Sparton Corp. (a)		4,998		136,545
Tech Data Corp. (a)		18,375		1,057,665
TTM Technologies, Inc. (a)		29,837		298,072
Universal Display Corp. (a)		20,293		1,049,757
				6,912,055
Electronic Entertainment — 0.2%
DTS, Inc. (a)		9,024		275,142
Glu Mobile, Inc. (a)		60,738		377,183
Take-Two Interactive Software, Inc. (a)		42,703		1,177,321
				1,829,646
Electronics — 0.3%
Agilysys, Inc. (a)		7,618		69,933
American Science & Engineering, Inc.		3,641		159,512
Coherent, Inc. (a)		12,003		761,951
Control4 Corp. (a)		10,369		92,180
Daktronics, Inc.		19,944		236,536
II-VI, Inc. (a)		26,427		501,585
Imprivata, Inc. (a)		4,604		75,321
iRobot Corp. (a)		15,049		479,762
Newport Corp. (a)		20,091		380,925
Rofin-Sinar Technologies, Inc. (a)		14,185		391,506
				3,149,211
Energy Equipment — 0.3%
Dynegy, Inc. (a)		64,656		1,891,188
Enphase Energy, Inc. (a)		13,910		105,855
FuelCell Energy, Inc. (a)(b)		120,115		117,341
Matador Resources Co. (a)		36,907		922,675
PowerSecure International, Inc. (a)		11,624		171,570
Silver Spring Networks, Inc. (a)		18,137		225,080
				3,433,709
Energy Equipment & Services — 0.0%
Geospace Technologies Corp. (a)		6,457		148,834
Pioneer Energy Services Corp. (a)		31,913		202,328
				351,162
Engineering & Contracting Services — 0.5%
Argan, Inc.		6,553		264,283
Dycom Industries, Inc. (a)		17,239		1,014,515
Engility Holdings, Inc.		9,171		230,742
Exponent, Inc.		13,182		590,290
Furmanite Corp. (a)		18,882		153,322
HC2 Holdings, Inc. (a)		9,851		88,166
MasTec, Inc. (a)		33,823		672,063
Mistras Group, Inc. (a)		8,358		158,635
MYR Group, Inc. (a)		10,641		329,445
Power Solutions International, Inc. (a)		2,383		128,730
Tetra Tech, Inc.		30,344		778,020
VSE Corp.		2,192	��	117,294
				4,525,505
Entertainment — 0.4%
AMC Entertainment Holdings, Inc., Class A		10,988		337,112
Ascent Capital Group, Inc., Class A (a)		6,630		283,366
Carmike Cinemas, Inc. (a)		12,396		328,990
DreamWorks Animation SKG, Inc., Class A (a)		38,239		1,008,745
IMAX Corp. (a)		30,384		1,223,564
Reading International, Inc., Class A (a)		8,327		115,329
Rentrak Corp. (a)		6,408		447,278
World Wrestling Entertainment, Inc. (b)		15,096		249,084
				3,993,468

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 41

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

Common Stocks	Shares		Value
Environmental, Maintenance, & Security Service — 0.5%
ABM Industries, Inc.		28,264	$	929,038
The Brink’s Co.		24,580		723,389
G&K Services, Inc., Class A		10,037		693,958
Healthcare Services Group, Inc.		35,894		1,186,297
MSA Safety, Inc.		14,897		722,653
SP Plus Corp. (a)		8,554		223,345
UniFirst Corp.		7,496		838,428
				5,317,108
Fertilizers — 0.0%
Intrepid Potash, Inc. (a)		28,319		338,129
Rentech, Inc. (a)		83,520		89,366
				427,495
Financial Data & Systems — 0.8%
Advent Software, Inc.		26,627		1,177,180
Cardtronics, Inc. (a)		22,826		845,703
Cass Information Systems, Inc.		5,838		328,212
Euronet Worldwide, Inc. (a)		26,243		1,619,193
EVERTEC, Inc.		33,133		703,745
Fair Isaac Corp.		15,778		1,432,327
Global Cash Access Holdings, Inc. (a)		33,500		259,290
Green Dot Corp., Class A (a)		23,128		442,207
Heartland Payment Systems, Inc.		18,572		1,003,817
Xoom Corp. (a)		16,066		338,270
				8,149,944
Food & Staples Retailing — 0.0%
Fairway Group Holdings Corp. (a)(b)		11,330		40,335
Natural Grocers by Vitamin Cottage, Inc. (a)		4,688		115,418
				155,753
Foods — 1.3%
B&G Foods, Inc.		29,115		830,651
Boulder Brands, Inc. (a)		27,467		190,621
The Chefs’ Warehouse, Inc. (a)		9,360		198,806
Dean Foods Co.		47,680		770,986
Diamond Foods, Inc. (a)		13,137		412,239
The Fresh Market, Inc. (a)		21,767		699,591
Freshpet, Inc. (a)(b)		10,288		191,357
Inventure Foods, Inc. (a)		9,730		98,760
J&J Snack Foods Corp.		7,459		825,488
John B Sanfilippo & Son, Inc.		4,336		225,039
Lancaster Colony Corp.		9,251		840,453
Lifeway Foods, Inc. (a)		2,337		44,847
Medifast, Inc. (a)		5,679		183,545
Natural Health Trends Corp.		4,016		166,503
Nature’s Sunshine Products, Inc.		5,208		71,610
Nutraceutical International Corp. (a)		4,096		101,335
Omega Protein Corp. (a)		11,252		154,715
Post Holdings, Inc. (a)		27,696		1,493,645
Seneca Foods Corp., Class A (a)		4,094		113,690
Senomyx, Inc. (a)		21,732		116,484
Snyders-Lance, Inc.		24,540		791,906
SpartanNash Co.		18,967		617,186
Synutra International, Inc. (a)		10,871		77,728
Tootsie Roll Industries, Inc.		9,349		302,066
TreeHouse Foods, Inc. (a)		21,630		1,752,679
United Natural Foods, Inc. (a)		25,234		1,606,901
				12,878,831
Forest Products — 0.2%
Boise Cascade Co. (a)		20,196		740,789
Deltic Timber Corp.		5,603		378,987
Universal Forest Products, Inc.		10,223		531,903
				1,651,679
Common Stocks	Shares		Value
Forms & Bulk Printing Services — 0.3%
Deluxe Corp.		25,211		1,563,082
Ennis, Inc.		12,955		240,833
InnerWorkings, Inc. (a)		18,256		121,768
Multi-Color Corp.		6,396		408,576
Quad/Graphics, Inc.		14,390		266,359
				2,600,618
Fruit & Grain Processing — 0.0%
MGP Ingredients, Inc.		5,374		90,391
Funeral Parlors & Cemeteries — 0.2%
Carriage Services, Inc.		8,440		201,547
Hillenbrand, Inc.		31,745		974,572
Matthews International Corp., Class A		16,567		880,370
				2,056,489
Gas Pipeline — 0.2%
SemGroup Corp., Class A		22,146		1,760,164
Glass — 0.1%
Apogee Enterprises, Inc.		14,725		775,124
Gold — 0.0%
Coeur Mining, Inc. (a)		68,594		391,672
Health Care Equipment & Supplies — 0.0%
Inogen, Inc. (a)		7,980		355,908
Health Care Facilities — 0.9%
AAC Holdings, Inc. (a)(b)		4,017		174,981
Adeptus Health, Inc., Class A (a)		3,150		299,219
Amsurg Corp. (a)		24,418		1,708,039
Capital Senior Living Corp. (a)		14,900		365,050
The Ensign Group, Inc.		12,796		653,364
Five Star Quality Care, Inc. (a)		21,077		101,170
Genesis Healthcare, Inc. (a)		18,165		119,889
Hanger, Inc. (a)		18,019		422,365
HealthSouth Corp.		46,145		2,125,439
Kindred Healthcare, Inc.		42,150		855,223
National Healthcare Corp.		5,055		328,524
Select Medical Holdings Corp.		52,956		857,887
Surgical Care Affiliates, Inc. (a)		10,789		414,082
U.S. Physical Therapy, Inc.		6,178		338,307
				8,763,539
Health Care Management Services — 0.5%
BioScrip, Inc. (a)(b)		33,637		122,102
Computer Programs & Systems, Inc.		5,622		300,327
Magellan Health Services, Inc. (a)		13,790		966,265
Molina Healthcare, Inc. (a)		17,828		1,253,308
Triple-S Management Corp., Class B (a)		12,310		315,875
Universal American Corp. (a)		24,839		251,371
WellCare Health Plans, Inc. (a)		22,236		1,886,280
				5,095,528
Health Care Services — 2.0%
Accelerate Diagnostics, Inc. (a)(b)		10,948		282,568
Addus HomeCare Corp. (a)		3,333		92,857
Air Methods Corp. (a)		19,828		819,690
Alliance HealthCare Services, Inc. (a)		2,417		45,174
Almost Family, Inc. (a)		3,693		147,388
Amedisys, Inc. (a)		14,192		563,848
AMN Healthcare Services, Inc. (a)		24,053		759,834
Cara Therapeutics, Inc. (a)		8,238		100,092
Care.com, Inc. (a)		9,282		54,949
Catalent, Inc. (a)		42,215		1,238,166
Chemed Corp.		8,633		1,131,786
Civitas Solutions, Inc. (a)		5,970		127,340
Corvel Corp. (a)		4,319		138,294
Cross Country Healthcare, Inc. (a)		16,586		210,310
ExamWorks Group, Inc. (a)		20,865		815,821

See Notes to Financial Statements.

42 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Health Care Services (concluded)
Flexion Therapeutics, Inc. (a)		6,972	$	152,617
Globus Medical, Inc., Class A (a)		35,001		898,476
HealthEquity, Inc. (a)		18,212		583,695
Healthways, Inc. (a)		15,761		188,817
HMS Holdings Corp. (a)		44,885		770,675
IPC The Hospitalist Co., Inc. (a)		8,759		485,161
LHC Group, Inc. (a)		6,526		249,620
Medidata Solutions, Inc. (a)		27,898		1,515,419
MiMedx Group, Inc. (a)		54,797		635,097
NeoGenomics, Inc. (a)		26,425		142,959
Nobilis Health Corp. (a)		15,632		106,298
Omnicell, Inc. (a)		18,184		685,719
OvaScience, Inc. (a)		11,874		343,515
PharMerica Corp. (a)		15,382		512,221
Phibro Animal Health Corp., Class A		8,877		345,670
Press Ganey Holdings, Inc. (a)		5,256		150,690
Quality Systems, Inc.		25,050		415,078
Ryman Hospitality Properties		22,130		1,175,324
T2 Biosystems, Inc. (a)(b)		4,481		72,727
Team Health Holdings, Inc. (a)		36,337		2,373,896
Tetraphase Pharmaceuticals, Inc. (a)		18,227		864,689
WebMD Health Corp. (a)		19,096		845,571
				20,042,051
Health Care: Miscellaneous — 0.1%
MedAssets, Inc. (a)		30,752		678,389
The Providence Service Corp. (a)		6,900		305,532
				983,921
Home Building — 0.8%
Beazer Homes USA, Inc. (a)		14,371		286,701
Century Communities, Inc. (a)		7,764		156,289
Hovnanian Enterprises, Inc., Class A (a)		61,577		163,795
Installed Building Products, Inc. (a)		10,100		247,248
KB Home		41,715		692,469
LGI Homes, Inc. (a)		7,278		143,959
M/I Homes, Inc. (a)		12,688		313,013
MDC Holdings, Inc.		20,057		601,108
Meritage Homes Corp. (a)		20,186		950,559
The New Home Co., Inc. (a)		4,542		78,259
The Ryland Group, Inc.		23,798		1,103,513
Standard Pacific Corp. (a)		75,031		668,526
Taylor Morrison Home Corp., Class A (a)		16,565		337,263
Tile Shop Holdings, Inc. (a)		13,826		196,191
TRI Pointe Homes, Inc. (a)		81,785		1,251,311
WCI Communities, Inc. (a)		7,909		192,901
William Lyon Homes, Class A (a)		10,049		257,958
				7,641,063
Hotel/Motel — 0.3%
Belmond Ltd., Class A (a)		49,824		622,302
Bloomin’ Brands, Inc.		62,486		1,334,076
Intrawest Resorts Holdings, Inc. (a)		8,878		103,162
La Quinta Holdings, Inc. (a)		48,102		1,099,131
The Marcus Corp.		9,552		183,207
Morgans Hotel Group Co. (a)		15,169		102,239
				3,444,117
Household Appliances — 0.0%
National Presto Industries, Inc.		2,417		194,133
Household Equipment & Products — 0.2%
Central Garden and Pet Co., Class A (a)		21,446		244,699
CSS Industries, Inc.		4,754		143,808
Helen of Troy Ltd. (a)		14,346		1,398,592
Libbey, Inc.		11,072		457,606
				2,244,705
Common Stocks	Shares		Value
Household Furnishings — 0.3%
American Woodmark Corp. (a)		6,582		361,023
Bassett Furniture Industries, Inc.		5,356		152,164
Ethan Allen Interiors, Inc.		12,905		339,918
Flexsteel Industries, Inc.		2,845		122,591
Hooker Furniture Corp.		5,286		132,731
Kirkland’s, Inc.		8,694		242,302
La-Z-Boy, Inc.		25,837		680,547
Lifetime Brands, Inc.		5,683		83,938
Select Comfort Corp. (a)		26,450		795,351
				2,910,565
Insurance: Life — 0.7%
American Equity Investment Life Holding Co.		39,284		1,059,882
Citizens, Inc. (a)(b)		23,875		178,108
CNO Financial Group, Inc.		99,805		1,831,422
FBL Financial Group, Inc., Class A		4,831		278,845
Fidelity & Guaranty Life		5,714		135,022
Independence Holding Co.		3,763		49,634
Kansas City Life Insurance Co.		1,689		77,204
National Western Life Insurance Co., Class A		1,168		279,724
Primerica, Inc.		25,957		1,185,975
Symetra Financial Corp.		37,909		916,261
Third Point Reinsurance Ltd. (a)		42,394		625,312
Trupanion, Inc. (a)(b)		7,663		63,143
				6,680,532
Insurance: Multi-Line — 0.3%
Atlas Financial Holdings, Inc. (a)		5,540		109,858
Crawford & Co., Class B		14,312		120,650
eHealth, Inc. (a)		8,809		111,786
Horace Mann Educators Corp.		20,750		754,885
James River Group Holdings, Ltd.		5,672		146,735
Kemper Corp.		21,938		845,710
Maiden Holdings Ltd.		25,832		407,629
PICO Holdings, Inc. (a)		11,508		169,398
				2,666,651
Insurance: Property-Casualty — 1.6%
Amerisafe, Inc.		9,562		449,988
Argo Group International Holdings Ltd.		14,087		784,646
Baldwin & Lyons, Inc., Class B		4,830		111,187
Donegal Group, Inc., Class A		3,937		59,961
EMC Insurance Group, Inc.		3,868		96,971
Employers Holdings, Inc.		16,150		367,897
Enstar Group Ltd. (a)		4,482		694,486
Essent Group Ltd. (a)		28,043		766,976
Federated National Holding Co.		7,395		178,959
First American Financial Corp.		54,850		2,040,968
Global Indemnity PLC (a)		4,182		117,431
Greenlight Capital Re Ltd. (a)		14,730		429,674
Hallmark Financial Services, Inc. (a)		7,397		84,178
HCI Group, Inc.		4,591		202,968
Heritage Insurance Holdings, Inc. (a)		12,590		289,444
Hilltop Holdings, Inc. (a)		38,538		928,380
Infinity Property & Casualty Corp.		5,767		437,369
Meadowbrook Insurance Group, Inc.		26,419		227,203
Montpelier Re Holdings Ltd.		18,375		725,813
National General Holdings Corp.		18,094		376,898
National Interstate Corp.		3,452		94,309
The Navigators Group, Inc. (a)		5,315		412,231
NMI Holdings, Inc., Class A (a)		24,790		198,816
OneBeacon Insurance Group Ltd.		11,422		165,733
Radian Group, Inc.		97,024		1,820,170
RLI Corp.		21,806		1,120,610
Safety Insurance Group, Inc.		7,286		420,475
Selective Insurance Group, Inc.		28,951		812,076
State Auto Financial Corp.		7,494		179,481

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 43

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

Common Stocks	Shares		Value
Insurance: Property-Casualty (concluded)
State National Cos., Inc.		15,337	$	166,100
Stewart Information Services Corp.		11,509		458,058
United Fire Group, Inc.		10,257		336,019
United Insurance Holdings Corp.		8,785		136,519
Universal Insurance Holdings, Inc.		16,642		402,736
				16,094,730
International Trade & Diversified Logistic — 0.0%
Radiant Logistics, Inc. (a)		12,815		93,678
Vectrus, Inc. (a)		5,393		134,124
				227,802
Internet Software & Services — 0.4%
Amber Road, Inc. (a)		8,515		59,775
ChannelAdvisor Corp. (a)		10,650		127,268
Coupons.com, Inc. (a)(b)		30,608		330,260
Everyday Health, Inc. (a)		10,769		137,628
Global Eagle Entertainment, Inc. (a)		23,293		303,275
Gogo, Inc. (a)		28,337		607,262
GrubHub, Inc. (a)		37,916		1,291,798
OPOWER, Inc. (a)(b)		13,096		150,735
TrueCar, Inc. (a)		24,670		295,793
Zendesk, Inc. (a)		27,069		601,203
				3,904,997
Leisure Time — 1.3%
Black Diamond, Inc. (a)		11,480		106,075
Callaway Golf Co.		39,626		354,257
Churchill Downs, Inc.		6,916		864,846
ClubCorp Holdings, Inc.		22,085		527,390
Escalade, Inc.		5,267		96,860
International Speedway Corp., Class A		14,029		514,443
Interval Leisure Group, Inc.		19,766		451,653
Johnson Outdoors, Inc.		2,558		60,241
Liberty TripAdvisor Holdings, Inc., Series A (a)		37,635		1,212,600
Marriott Vacations Worldwide Corp.		13,365		1,226,239
Nautilus, Inc. (a)		16,044		345,106
Orbitz Worldwide, Inc. (a)		56,395		644,031
Pool Corp.		21,921		1,538,416
SeaWorld Entertainment, Inc.		34,381		633,986
SFX Entertainment, Inc. (a)		23,327		104,738
Smith & Wesson Holding Corp. (a)		27,304		452,973
Speedway Motorsports, Inc.		5,963		135,062
Sturm Ruger & Co., Inc.		9,463		543,649
Travelport Worldwide, Ltd.		53,100		731,718
Vail Resorts, Inc.		18,365		2,005,458
West Marine, Inc. (a)		9,077		87,502
				12,637,243
Luxury Items — 0.0%
Movado Group, Inc.		8,187		222,359
Machinery: Agricultural — 0.1%
Alamo Group, Inc.		4,863		265,714
Lindsay Corp. (b)		5,927		521,043
Titan International, Inc.		21,933		235,560
Titan Machinery, Inc. (a)		8,644		127,326
				1,149,643
Machinery: Construction & Handling — 0.1%
Astec Industries, Inc.		9,492		396,955
Douglas Dynamics, Inc.		11,342		243,626
NACCO Industries, Inc., Class A		2,123		128,994
				769,575
Machinery: Engines — 0.0%
Briggs & Stratton Corp.		22,477		432,907
Common Stocks	Shares		Value
Machinery: Industrial — 0.9%
Actuant Corp., Class A		30,184		696,948
Altra Industrial Motion Corp.		13,268		360,624
Applied Industrial Technologies, Inc.		20,252		802,992
Chart Industries, Inc. (a)		15,424		551,408
Columbus McKinnon Corp.		10,142		253,550
DXP Enterprises, Inc. (a)		6,382		296,763
EnPro Industries, Inc.		11,553		661,063
The ExOne Co. (a)(b)		5,368		59,585
Graham Corp.		5,169		105,913
Hyster-Yale Materials Handling, Inc.		4,764		330,050
John Bean Technologies Corp.		14,697		552,460
Kadant, Inc.		5,539		261,441
MTS Systems Corp.		7,447		513,471
Omega Flex, Inc.		1,603		60,369
Proto Labs, Inc. (a)		11,746		792,620
Tennant Co.		9,211		601,847
Twin Disc, Inc.		4,060		75,678
Woodward, Inc.		32,894		1,808,841
				8,785,623
Machinery: Specialty — 0.1%
Albany International Corp., Class A		14,254		567,309
Hurco Cos., Inc.		3,407		117,950
Xerium Technologies, Inc. (a)		5,882		107,053
				792,312
Manufactured Housing — 0.0%
Cavco Industries, Inc. (a)		4,480		337,971
Medical & Dental Instruments & Supplies — 2.1%
ABIOMED, Inc. (a)		21,084		1,385,851
AngioDynamics, Inc. (a)		12,988		213,003
Anika Therapeutics, Inc. (a)		7,386		243,960
Antares Pharma, Inc. (a)		78,893		164,097
AtriCure, Inc. (a)		14,373		354,151
Atrion Corp.		731		286,779
Cantel Medical Corp.		17,518		940,191
Cardiovascular Systems, Inc. (a)		15,890		420,290
Cerus Corp. (a)(b)		48,327		250,817
CONMED Corp.		14,015		816,654
CryoLife, Inc.		13,449		151,705
Cutera, Inc. (a)		7,241		112,091
Endologix, Inc. (a)		34,147		523,815
Entellus Medical, Inc. (a)		2,877		74,428
Exactech, Inc. (a)		5,314		110,691
Halyard Health, Inc. (a)		23,580		954,990
HeartWare International, Inc. (a)		8,786		638,654
ICU Medical, Inc. (a)		7,205		689,230
Insulet Corp. (a)		28,752		890,881
Integra LifeSciences Holdings Corp. (a)		13,034		878,101
Intersect ENT, Inc. (a)		7,019		200,954
Invacare Corp.		16,510		357,111
InVivo Therapeutics Holdings Corp. (a)		13,461		217,395
K2M Group Holdings, Inc. (a)		8,873		213,129
Landauer, Inc.		4,746		169,147
LDR Holding Corp. (a)		11,791		509,961
LeMaitre Vascular, Inc.		5,810		70,069
Meridian Bioscience, Inc.		21,091		393,136
Merit Medical Systems, Inc. (a)		22,353		481,484
NanoString Technologies, Inc. (a)		6,373		98,272
Navidea Biopharmaceuticals, Inc. (a)(b)		75,861		122,136
Neogen Corp. (a)		18,658		885,136
NuVasive, Inc. (a)		24,682		1,169,433
Ocular Therapeutix, Inc. (a)		6,591		138,609
OraSure Technologies, Inc. (a)		29,024		156,439
Orthofix International NV (a)		9,601		317,985
Owens & Minor, Inc.		32,237		1,096,058
Quidel Corp. (a)		14,730		338,054

See Notes to Financial Statements.

44 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Medical & Dental Instruments & Supplies (concluded)
Second Sight Medical Products, Inc. (a)(b)		6,032	$	82,096
Sientra, Inc. (a)		3,611		91,106
Staar Surgical Co. (a)		19,415		187,549
STERIS Corp.		30,371		1,957,107
SurModics, Inc. (a)		6,790		159,022
Tornier NV (a)		18,399		459,791
TransEnterix, Inc. (a)		17,684		53,052
Unilife Corp. (a)(b)		59,582		128,101
Utah Medical Products, Inc.		1,996		119,021
Vascular Solutions, Inc. (a)		9,059		314,528
				20,586,260
Medical Equipment — 1.1%
Abaxis, Inc.		11,436		588,725
Accuray, Inc. (a)		39,784		268,144
Affymetrix, Inc. (a)		39,044		426,360
Analogic Corp.		6,341		500,305
Corindus Vascular Robotics, Inc. (a)		11,369		39,905
Cyberonics, Inc. (a)		13,286		789,986
Cynosure, Inc., Class A (a)		11,409		440,159
Fluidigm Corp. (a)		14,506		351,045
Greatbatch, Inc. (a)		13,031		702,632
Haemonetics Corp. (a)		26,370		1,090,663
iRadimed Corp. (a)		1,428		33,230
Luminex Corp. (a)		21,350		368,501
Masimo Corp. (a)		22,307		864,173
Merge Healthcare, Inc. (a)		34,916		167,597
Natus Medical, Inc. (a)		16,779		714,114
Nevro Corp. (a)		7,666		412,047
NxStage Medical, Inc. (a)		31,908		455,806
Oxford Immunotec Global PLC (a)		10,112		140,051
Spectranetics Corp. (a)		21,553		495,935
Tandem Diabetes Care, Inc. (a)		8,882		96,281
Thoratec Corp. (a)		27,521		1,226,611
Zeltiq Aesthetics, Inc. (a)		16,325		481,098
				10,653,368
Medical Services — 0.2%
Bio-Reference Laboratories, Inc. (a)		12,447		513,439
PAREXEL International Corp. (a)		27,892		1,793,734
				2,307,173
Metal Fabricating — 0.7%
Advanced Drainage Systems, Inc.		16,998		498,551
Global Brass & Copper Holdings, Inc.		10,997		187,059
Haynes International, Inc.		6,179		304,748
Lawson Products, Inc. (a)		2,646		62,128
LB Foster Co., Class A		5,364		185,648
MRC Global, Inc. (a)		51,907		801,444
Mueller Industries, Inc.		28,792		999,658
Mueller Water Products, Inc., Series A		81,198		738,902
NN, Inc.		9,663		246,600
Northwest Pipe Co. (a)		4,954		100,913
RBC Bearings, Inc. (a)		11,772		844,759
Rexnord Corp. (a)		51,218		1,224,622
RTI International Metals, Inc. (a)		15,598		491,649
Worthington Industries, Inc.		24,264		729,376
				7,416,057
Metals & Minerals: Diversified — 0.5%
Cliffs Natural Resources, Inc.		77,274		334,596
Commercial Metals Co.		58,733		944,427
Energy Fuels, Inc. (a)		20,681		92,030
Globe Specialty Metals, Inc.		32,723		579,197
Hecla Mining Co.		186,754		491,163
Materion Corp.		10,180		358,845
Minerals Technologies, Inc.		17,550		1,195,682
Oil-Dri Corp. of America		2,507		76,163
Common Stocks	Shares		Value
Metals & Minerals: Diversified (concluded)
Ring Energy, Inc. (a)		10,135		113,411
SunCoke Energy, Inc.		32,957		428,441
U.S. Silica Holdings, Inc. (b)		26,943		791,046
United States Lime & Minerals, Inc.		890		51,727
				5,456,728
Office Supplies & Equipment — 0.6%
ACCO Brands Corp. (a)		55,881		434,195
Eastman Kodak Co. (a)		8,717		146,446
Electronics for Imaging, Inc. (a)		23,589		1,026,357
Essendant, Inc.		19,371		760,312
Herman Miller, Inc.		30,038		868,999
HNI Corp.		22,464		1,149,034
Kimball International, Inc., Class B		17,323		210,648
Knoll, Inc.		24,637		616,664
Steelcase, Inc., Class A		41,953		793,331
				6,005,986
Offshore Drilling & Other Services — 0.1%
Atwood Oceanics, Inc.		32,692		864,376
North Atlantic Drilling, Ltd. (b)		31,845		37,896
				902,272
Oil Well Equipment & Services — 0.8%
Basic Energy Services, Inc. (a)		21,305		160,853
C&J Energy Services, Ltd. (a)		28,322		373,850
Exterran Holdings, Inc.		34,967		1,141,673
Flotek Industries, Inc. (a)		27,147		340,152
FMSA Holdings, Inc. (a)(b)		32,268		264,275
Forum Energy Technologies, Inc. (a)		29,949		607,366
Helix Energy Solutions Group, Inc. (a)		53,537		676,172
Hornbeck Offshore Services, Inc. (a)		16,334		335,337
Independence Contract Drilling, Inc. (a)		7,954		70,552
ION Geophysical Corp. (a)		69,466		74,329
Key Energy Services, Inc. (a)		65,166		117,299
Matrix Service Co. (a)		13,526		247,255
McDermott International, Inc. (a)		120,551		643,742
Natural Gas Services Group, Inc. (a)		6,489		148,079
Newpark Resources, Inc. (a)		42,748		347,541
Oil States International, Inc. (a)		25,983		967,347
Parker Drilling Co. (a)		62,992		209,133
RigNet, Inc. (a)		5,995		183,267
SEACOR Holdings, Inc. (a)		9,211		653,428
Seventy Seven Energy, Inc. (a)		28,150		120,764
Tesco Corp.		19,286		210,217
TETRA Technologies, Inc. (a)		40,912		261,019
				8,153,650
Oil, Gas & Consumable Fuels — 0.3%
Ardmore Shipping Corp.		8,853		107,210
CARBO Ceramics, Inc.		9,867		410,763
DHT Holdings, Inc.		47,135		366,239
Dorian LPG, Ltd. (a)		12,481		208,183
EXCO Resources, Inc. (b)		82,713		97,601
Gastar Exploration, Inc. (a)		40,950		126,536
Navios Maritime Acq Corp.		42,424		152,302
Pacific Ethanol, Inc. (a)		12,821		132,313
Parsley Energy, Inc., Class A (a)		41,984		731,361
Plug Power, Inc. (a)(b)		86,846		212,773
RSP Permian, Inc. (a)		27,506		773,194
TransAtlantic Petroleum, Ltd. (a)		12,247		62,582
				3,381,057
Oil: Crude Producers — 1.2%
Abraxas Petroleum Corp. (a)		48,961		144,435
Approach Resources, Inc. (a)(b)		18,399		126,033
Bill Barrett Corp. (a)		25,000		214,750
Bonanza Creek Energy, Inc. (a)		25,029		456,779

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 45

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

Common Stocks	Shares			Value
Oil: Crude Producers (concluded)
Callon Petroleum Co. (a)		33,498		$	278,703
Carrizo Oil & Gas, Inc. (a)		25,970			1,278,763
Clayton Williams Energy, Inc. (a)		2,984			196,198
Contango Oil & Gas Co. (a)		9,059			111,154
Earthstone Energy, Inc. (a)		522			10,195
Eclipse Resources Corp. (a)		23,641			124,352
Energy XXI Bermuda Ltd. (b)		46,331			121,850
Erin Energy Corp. (a)		6,870			26,862
Evolution Petroleum Corp.		11,718			77,222
Halcon Resources Corp. (a)(b)		184,622			214,161
Isramco, Inc. (a)		423			58,382
Jones Energy, Inc., Class A (a)		14,507			131,288
Magnum Hunter Resources Corp. (a)(b)		103,524			193,590
Northern Oil and Gas, Inc. (a)(b)		30,961			209,606
Oasis Petroleum, Inc. (a)		70,130			1,111,560
ONE Gas, Inc.		26,522			1,128,776
Panhandle Oil and Gas, Inc.		8,194			169,534
PDC Energy, Inc. (a)		20,233			1,085,298
Penn Virginia Corp. (a)		35,187			154,119
Rex Energy Corp. (a)(b)		25,023			139,879
Rosetta Resources, Inc. (a)		38,135			882,444
Sanchez Energy Corp. (a)(b)		26,337			258,103
SandRidge Energy, Inc. (a)		216,280			189,678
Stone Energy Corp. (a)		28,859			363,335
Synergy Resources Corp. (a)		52,340			598,246
Triangle Petroleum Corp. (a)(b)		24,052			120,741
Ultra Petroleum Corp. (a)		77,245			967,107
Unit Corp. (a)		25,266			685,214
W&T Offshore, Inc. (b)		17,460			95,681
					11,924,038
Oil: Refining & Marketing — 0.4%
Adams Resources & Energy, Inc.		1,047			46,696
Alon USA Energy, Inc.		15,803			298,677
Clean Energy Fuels Corp. (a)(b)		35,418			199,049
Delek U.S. Holdings, Inc.		29,031			1,068,921
Par Petroleum Corp. (a)		7,858			147,102
Renewable Energy Group, Inc. (a)		22,243			257,129
Trecora Resources (a)		10,200			154,020
Western Refining, Inc.		35,905			1,566,176
			��		3,737,770
Paints & Coatings — 0.2%
Chase Corp.		3,622			143,974
Ferro Corp. (a)		36,806			617,605
HB Fuller Co.		25,433			1,033,088
Kronos Worldwide, Inc.		10,761			117,941
					1,912,608
Paper — 0.3%
Clearwater Paper Corp. (a)		9,680			554,664
KapStone Paper and Packaging Corp.		43,252			999,986
Neenah Paper, Inc.		8,574			505,523
PH Glatfelter Co.		22,070			485,319
Schweitzer-Mauduit International, Inc.		15,501			618,180
Wausau Paper Corp.		21,172			194,359
					3,358,031
Personal Care — 0.1%
Orchids Paper Products Co.		4,656			112,070
USANA Health Sciences, Inc. (a)		2,890			394,947
WD-40 Co.		7,290			635,397
					1,142,414
Pharmaceuticals — 2.7%
Abeona Therapeutics, Inc. (a)		5,115			25,882
ACADIA Pharmaceuticals, Inc. (a)		40,208			1,683,911
Achillion Pharmaceuticals, Inc. (a)		59,245			524,911
Common Stocks	Shares			Value
Pharmaceuticals (concluded)
Adamas Pharmaceuticals, Inc. (a)		5,107			133,906
Aerie Pharmaceuticals, Inc. (a)		10,372			183,066
Agile Therapeutics, Inc. (a)		5,082			43,654
Amphastar Pharmaceuticals, Inc. (a)		15,947			280,348
Anacor Pharmaceuticals, Inc. (a)		20,683			1,601,485
Aratana Therapeutics, Inc. (a)		14,918			225,560
Biospecifics Technologies Corp. (a)		2,477			127,813
Cambrex Corp. (a)		15,865			697,108
Cempra, Inc. (a)		16,127			554,124
Chimerix, Inc. (a)		20,814			961,607
Concert Pharmaceuticals, Inc. (a)		7,744			115,308
Corcept Therapeutics, Inc. (a)		31,181			187,398
CorMedix, Inc. (a)		15,797			61,292
Depomed, Inc. (a)		30,340			651,096
Dicerna Pharmaceuticals, Inc. (a)		7,570			105,602
Durect Corp. (a)		56,290			134,533
Eagle Pharmaceuticals, Inc. (a)		4,344			351,256
Enanta Pharmaceuticals, Inc. (a)		8,061			362,664
Endocyte, Inc. (a)		18,683			96,965
Esperion Therapeutics, Inc. (a)		6,641			542,968
Foamix Pharmaceuticals, Ltd. (a)		11,294			115,764
Furiex Pharamceuticals, Inc.		3,003			30,030
Heska Corp. (a)		2,831			84,052
Immune Design Corp. (a)		5,653			116,734
Impax Laboratories, Inc. (a)		36,196			1,662,120
Infinity Pharmaceuticals, Inc. (a)		24,731			270,804
Intra-Cellular Therapies, Inc. (a)		10,951			349,884
Ironwood Pharmaceuticals, Inc. (a)		63,038			760,238
Kite Pharma, Inc. (a)(b)		14,550			887,113
La Jolla Pharmaceutical Co. (a)		5,774			141,521
Lannett Co., Inc. (a)		13,431			798,339
The Medicines Co. (a)		33,470			957,577
Otonomy, Inc. (a)		7,411			170,379
Pacira Pharmaceuticals, Inc. (a)		18,380			1,299,834
Paratek Pharmaceuticals, Inc.		6,034			155,496
Pernix Therapeutics Holdings (a)		22,249			131,714
Portola Pharmaceuticals, Inc. (a)		23,285			1,060,632
Pozen, Inc. (a)		15,228			157,001
Prestige Brands Holdings, Inc. (a)		26,425			1,221,892
Radius Health, Inc. (a)		14,749			998,507
Relypsa, Inc. (a)		16,416			543,205
Revance Therapeutics, Inc. (a)		7,820			250,084
Sagent Pharmaceuticals, Inc. (a)		11,067			269,039
Sciclone Pharmaceuticals, Inc. (a)		25,294			248,387
Spectrum Pharmaceuticals, Inc. (a)		34,547			236,301
Supernus Pharmaceuticals, Inc. (a)		17,337			294,382
TG Therapeutics, Inc. (a)		17,847			296,082
TherapeuticsMD, Inc. (a)		64,170			504,376
Theravance Biopharma, Inc. (a)		12,778			166,370
Ultragenyx Pharmaceutical, Inc. (a)		18,084			1,851,621
Vivus, Inc. (a)		53,157			125,451
XenoPort, Inc. (a)		29,153			178,708
Zafgen, Inc. (a)		8,270			286,390
Zogenix, Inc. (a)		77,706			130,546
ZS Pharma, Inc. (a)		9,141			478,897
					26,881,927
Plastics — 0.1%
A. Schulman, Inc.		14,746			644,695
Core Molding Technologies, Inc. (a)		3,900			89,076
Ply Gem Holdings, Inc. (a)		11,372			134,076
Trinseo SA (a)		5,885			157,953
					1,025,800
Power Transmission Equipment — 0.2%
Advanced Energy Industries, Inc. (a)		20,708			569,263
Generac Holdings, Inc. (a)		34,965			1,389,859

See Notes to Financial Statements.

46 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Power Transmission Equipment (concluded)
Powell Industries, Inc.		4,558	$	160,305
Vicor Corp. (a)		8,613		104,992
				2,224,419
Precious Metals & Minerals — 0.1%
Horsehead Holding Corp. (a)		28,563		334,759
Stillwater Mining Co. (a)		61,119		708,369
				1,043,128
Printing & Copying Services — 0.2%
Casella Waste Systems, Inc. (a)		19,940		111,864
Cimpress NV (a)		16,558		1,393,521
				1,505,385
Producer Durables: Miscellaneous — 0.1%
Blount International, Inc. (a)		24,706		269,790
Park-Ohio Holdings Corp.		4,451		215,695
				485,485
Production Technology Equipment — 0.8%
Axcelis Technologies, Inc. (a)		56,296		166,636
Brooks Automation, Inc.		34,117		390,640
Cohu, Inc.		12,782		169,106
Entegris, Inc. (a)		70,632		1,029,108
FEI Co.		20,908		1,733,900
GSI Group, Inc. (a)		17,126		257,404
Mattson Technology, Inc. (a)		37,511		125,662
MKS Instruments, Inc.		26,921		1,021,383
Nanometrics, Inc. (a)		12,021		193,779
Photronics, Inc. (a)		33,432		317,938
Rudolph Technologies, Inc. (a)		16,254		195,211
Tessera Technologies, Inc.		26,607		1,010,534
Ultra Clean Holdings, Inc. (a)		16,532		102,994
Ultratech, Inc. (a)		13,931		258,559
Veeco Instruments, Inc. (a)		20,348		584,801
				7,557,655
Publishing — 0.6%
Daily Journal Corp. (a)		553		108,670
Eros International PLC (a)		14,187		356,377
Journal Media Group, Inc.		12,144		100,674
Martha Stewart Living Omnimedia, Class A (a)		15,328		95,647
Media General, Inc. (a)		48,441		800,245
Meredith Corp.		18,536		966,652
New Media Investment Group, Inc.		22,728		407,513
The New York Times Co., Class A		69,511		948,825
Scholastic Corp.		13,441		593,151
Time, Inc.		55,364		1,273,926
Tribune Publishing Co.		9,951		154,639
				5,806,319
Radio & TV Broadcasters — 0.3%
Central European Media Enterprises Ltd. (a)		36,951		80,553
Crown Media Holdings, Inc., Class A (a)		16,618		75,113
Cumulus Media, Inc., Class A (a)		71,457		145,058
Entercom Communications Corp., Class A (a)		13,402		153,051
Entravision Communications Corp., Class A		32,657		268,767
Gray Television, Inc. (a)		32,299		506,448
Nexstar Broadcasting Group, Inc., Class A		15,817		885,752
Saga Communications, Inc., Class A		1,880		71,158
Sinclair Broadcast Group, Inc., Class A		33,537		936,018
Townsquare Media, Inc. (a)		3,693		50,151
				3,172,069
Railroad Equipment — 0.1%
American Railcar Industries, Inc.		4,779		232,451
FreightCar America, Inc.		6,444		134,551
The Greenbrier Cos., Inc.		13,384		627,040
				994,042
Common Stocks	Shares		Value
Real Estate — 0.3%
AV Homes, Inc. (a)		5,788		83,174
Consolidated-Tomoka Land Co.		2,227		128,364
Forestar Group, Inc. (a)		17,064		224,562
HFF, Inc., Class A		19,017		793,579
Kennedy-Wilson Holdings, Inc.		46,768		1,150,025
The St. Joe Co. (a)		16,367		254,180
Tejon Ranch Co. (a)		6,769		174,031
				2,807,915
Real Estate Investment Trusts (REITs) — 8.1%
Acadia Realty Trust		34,925		1,016,667
AG Mortgage Investment Trust, Inc.		15,052		260,099
Agree Realty Corp.		8,964		261,480
Alexander & Baldwin, Inc.		24,835		978,499
Alexander’s, Inc.		1,055		432,550
Altisource Residential Corp.		29,235		492,610
American Assets Trust, Inc.		13,915		545,607
American Capital Mortgage Investment Corp.		26,300		420,537
American Residential Properties, Inc.		16,221		300,088
Anworth Mortgage Asset Corp.		54,221		267,310
Apollo Commercial Real Estate Finance, Inc.		30,131		495,052
Ares Commercial Real Estate Corp.		14,445		164,529
Armada Hoffler Properties, Inc.		13,803		137,892
ARMOUR Residential REIT, Inc.		179,376		504,047
Ashford Hospitality Prime, Inc.		12,670		190,303
Ashford Hospitality Trust, Inc.		41,667		352,503
Associated Estates Realty Corp.		29,542		845,787
Bluerock Residential Growth REIT, Inc.		9,293		117,649
Campus Crest Communities, Inc.		32,653		180,898
Capstead Mortgage Corp.		48,953		543,378
CareTrust REIT, Inc.		15,655		198,349
Catchmark Timber Trust, Inc.		19,264		222,884
Cedar Realty Trust, Inc.		43,319		277,242
Chambers Street Properties		120,539		958,285
Chatham Lodging Trust		19,622		519,394
Chesapeake Lodging Trust		30,291		923,270
Colony Financial, Inc.		57,316		1,298,207
CorEnergy Infrastructure Trust, Inc.		23,686		149,695
Coresite Realty Corp.		12,394		563,183
Cousins Properties, Inc.		109,781		1,139,527
CubeSmart		84,284		1,952,017
CyrusOne, Inc.		26,916		792,676
CYS Investments, Inc.		83,814		647,882
DCT Industrial Trust, Inc.		44,985		1,414,328
DiamondRock Hospitality Co.		102,034		1,307,056
DuPont Fabros Technology, Inc.		32,189		947,966
Dynex Capital, Inc.		28,921		220,378
Easterly Government Properties, Inc.		7,143		113,717
EastGroup Properties, Inc.		16,296		916,324
Education Realty Trust, Inc.		24,502		768,383
EPR Properties		28,923		1,584,402
Equity One, Inc.		36,763		858,048
Excel Trust, Inc.		32,518		512,809
FelCor Lodging Trust, Inc.		72,650		717,782
First Industrial Realty Trust, Inc.		55,925		1,047,475
First Potomac Realty Trust		29,812		307,064
Franklin Street Properties Corp.		44,899		507,808
Geo Group, Inc.		37,575		1,283,562
Getty Realty Corp.		12,937		211,649
Gladstone Commercial Corp.		10,203		168,962
Government Properties Income Trust		29,574		548,598
Gramercy Property Trust, Inc.		28,979		677,239
Great Ajax Corp.		2,564		36,358
Hatteras Financial Corp.		49,455		806,116
Healthcare Realty Trust, Inc.		50,997		1,186,190
Hersha Hospitality Trust		24,901		638,462
Highwoods Properties, Inc.		47,514		1,898,184

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 47

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)
Hudson Pacific Properties, Inc.		37,852	$	1,073,861
Independence Realty Trust, Inc.		10,869		81,844
InfraREIT, Inc.		11,135		315,789
Inland Real Estate Corp.		43,934		413,858
Invesco Mortgage Capital, Inc.		63,258		905,855
Investors Real Estate Trust		59,657		425,951
iStar Financial, Inc. (a)		43,156		574,838
Kite Realty Group Trust		42,073		1,029,526
KYTHERA Biopharmaceuticals, Inc. (a)		12,976		977,223
LaSalle Hotel Properties		57,289		2,031,468
Lexington Realty Trust		104,634		887,296
LTC Properties, Inc.		18,101		753,002
Mack-Cali Realty Corp.		45,280		834,510
Medical Properties Trust, Inc.		106,405		1,394,970
Monmouth Real Estate Investment Corp., Class A		29,558		287,304
Monogram Residential Trust, Inc.		83,929		757,040
National Health Investors, Inc.		19,023		1,185,133
National Storage Affiliates Trust		11,684		144,882
New Residential Investment Corp.		101,338		1,544,391
New Senior Investment Group, Inc.		33,136		443,028
New York Mortgage Trust, Inc.		57,400		429,352
New York REIT, Inc.		82,531		821,183
NexPoint Residential Trust, Inc.		9,522		127,880
One Liberty Properties, Inc.		6,735		143,321
Orchid Island Capital, Inc.		9,240		103,580
Parkway Properties, Inc.		42,744		745,455
Pebblebrook Hotel Trust		36,398		1,560,746
Pennsylvania Real Estate Investment Trust		35,130		749,674
PennyMac Mortgage Investment Trust (c)		28,817		502,280
Physicians Realty Trust		35,723		548,705
Potlatch Corp.		20,581		726,921
Preferred Apartment Communities, Inc.		10,638		105,848
PS Business Parks, Inc.		9,857		711,183
QTS Realty Trust, Inc., Class A		12,069		439,915
RAIT Financial Trust		38,843		237,331
Ramco-Gershenson Properties Trust		40,339		658,332
Redwood Trust, Inc.		43,404		681,443
Resource Capital Corp.		69,897		270,501
Retail Opportunity Investments Corp.		46,969		733,656
Rexford Industrial Realty, Inc.		28,271		412,191
RLJ Lodging Trust		67,108		1,998,476
Rouse Properties, Inc.		18,374		300,415
Sabra Health Care REIT, Inc.		30,051		773,513
Saul Centers, Inc.		4,925		242,261
Select Income REIT		31,389		647,869
Silver Bay Realty Trust Corp.		18,202		296,511
Sovran Self Storage, Inc.		18,036		1,567,509
STAG Industrial, Inc.		32,752		655,040
Starwood Waypoint Residential Trust		19,278		458,045
STORE Capital Corp.		17,271		347,147
Strategic Hotels & Resorts, Inc. (a)		139,552		1,691,370
Summit Hotel Properties, Inc.		45,468		591,539
Sun Communities, Inc.		23,572		1,457,457
Sunstone Hotel Investors, Inc.		105,974		1,590,670
Terreno Realty Corp.		21,801		429,480
Trade Street Residential, Inc.		8,842		58,888
UMH Properties, Inc.		11,555		113,239
United Development Funding IV		15,103		264,000
Universal Health Realty Income Trust		4,736		220,035
Urban Edge Properties		30,396		631,933
Urstadt Biddle Properties, Inc., Class A		12,676		236,788
Walter Investment Management Corp. (a)(b)		19,281		440,956
Washington Real Estate Investment Trust		34,541		896,339
Western Asset Mortgage Capital Corp. (b)		22,003		324,984
Whitestone REIT		11,742		152,881
Xenia Hotels & Resorts, Inc.		56,345		1,224,940
				81,212,507
Common Stocks	Shares		Value
Recreational Vehicles & Boats — 0.1%
Arctic Cat, Inc.		6,448		214,138
Drew Industries, Inc.		12,132		703,899
Malibu Boats, Inc. (a)		8,851		177,816
Marine Products Corp.		5,203		32,467
Winnebago Industries, Inc.		13,657		322,169
				1,450,489
Rental & Leasing Services: Consumer — 0.1%
Rent-A-Center, Inc.		26,759		758,618
Restaurants — 1.9%
Biglari Holdings, Inc. (a)		836		345,895
BJ’s Restaurants, Inc. (a)		10,806		523,551
Bob Evans Farms, Inc.		11,918		608,414
Bojangles’, Inc. (a)		4,098		97,778
Bravo Brio Restaurant Group, Inc. (a)		8,003		108,441
Buffalo Wild Wings, Inc. (a)		9,581		1,501,247
Carrols Restaurant Group, Inc. (a)		17,760		184,704
The Cheesecake Factory, Inc.		24,537		1,338,125
Cracker Barrel Old Country Store, Inc.		9,672		1,442,676
Dave & Buster’s Entertainment, Inc. (a)		11,442		412,942
Denny’s Corp. (a)		42,834		497,303
Diamond Resorts International, Inc. (a)		21,411		675,517
DineEquity, Inc.		8,563		848,508
El Pollo Loco Holdings, Inc. (a)(b)		6,803		140,890
Ellie Mae, Inc. (a)		14,867		1,037,568
Fiesta Restaurant Group, Inc. (a)		13,561		678,050
The Habit Restaurants, Inc. (a)		5,731		179,323
Jack in the Box, Inc.		18,871		1,663,667
Jamba, Inc. (a)		7,105		110,056
Kona Grill, Inc. (a)		4,111		79,794
Krispy Kreme Doughnuts, Inc. (a)		32,780		631,343
Noodles & Co. (a)(b)		6,315		92,199
Papa John’s International, Inc.		14,621		1,105,494
Papa Murphy’s Holdings, Inc. (a)(b)		4,595		95,208
Popeyes Louisiana Kitchen, Inc. (a)		11,647		698,704
Potbelly Corp. (a)		10,843		132,827
Red Robin Gourmet Burgers, Inc. (a)		7,126		611,553
Ruby Tuesday, Inc. (a)		31,798		199,373
Ruth’s Hospitality Group, Inc.		17,613		283,922
Shake Shack, Inc., Class A (a)(b)		2,905		175,084
Sonic Corp.		26,340		758,592
Texas Roadhouse, Inc.		35,261		1,319,819
Zoe’s Kitchen, Inc. (a)		9,704		397,282
				18,975,849
Scientific Instruments: Control & Filter — 0.3%
Brady Corp., Class A		24,105		596,358
CIRCOR International, Inc.		8,612		469,612
ESCO Technologies, Inc.		13,033		487,565
The Gorman-Rupp Co.		9,441		265,103
Sun Hydraulics Corp.		11,318		431,329
Thermon Group Holdings, Inc. (a)		16,174		389,308
Watts Water Technologies, Inc., Class A		14,159		734,144
				3,373,419
Scientific Instruments: Electrical — 0.5%
Allied Motion Technologies, Inc.		3,211		72,119
AZZ, Inc.		13,028		674,850
EnerSys, Inc.		22,420		1,575,902
Franklin Electric Co., Inc.		23,879		772,008
GrafTech International Ltd. (a)		60,881		301,970
Littelfuse, Inc.		11,339		1,075,958
Preformed Line Products Co.		1,464		55,222
Taser International, Inc. (a)		27,020		900,036
				5,428,065

See Notes to Financial Statements.

48 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Scientific Instruments: Gauges & Meters — 0.2%
Badger Meter, Inc.		7,222	$	458,525
FARO Technologies, Inc. (a)		8,755		408,859
Itron, Inc. (a)		19,350		666,414
Mesa Laboratories, Inc.		1,491		132,550
Vishay Precision Group, Inc. (a)		6,507		97,995
				1,764,343
Scientific Instruments: Pollution Control — 0.2%
Ceco Environmental Corp.		10,878		123,248
Darling International, Inc. (a)		83,414		1,222,849
Heritage-Crystal Clean, Inc. (a)		6,324		92,963
Team, Inc. (a)		10,438		420,130
TRC Cos., Inc. (a)		8,602		87,310
U.S. Ecology, Inc.		10,899		530,999
				2,477,499
Securities Brokerage & Services — 0.4%
BGC Partners, Inc., Class A		91,794		803,198
Gain Capital Holdings, Inc.		16,204		154,910
INTL FCStone, Inc. (a)		7,688		255,549
Investment Technology Group, Inc.		17,454		432,859
Ladenburg Thalmann Financial Services, Inc. (a)		52,307		183,075
MarketAxess Holdings, Inc.		18,825		1,746,395
Virtu Financial, Inc., Class A (a)		9,471		222,379
				3,798,365
Semiconductors & Components — 2.0%
Advanced Micro Devices, Inc. (a)		319,927		767,825
Alpha & Omega Semiconductor Ltd. (a)		10,991		96,061
Amkor Technology, Inc. (a)		49,872		298,235
Applied Micro Circuits Corp. (a)		40,636		274,293
Cavium, Inc. (a)		27,898		1,919,661
Ceva, Inc. (a)		10,357		201,236
Cirrus Logic, Inc. (a)		32,063		1,091,104
Diodes, Inc. (a)		18,764		452,400
DSP Group, Inc. (a)		11,363		117,380
Emcore Corp. (a)		11,880		71,518
Exar Corp. (a)		19,689		192,558
Fairchild Semiconductor International, Inc. (a)		58,798		1,021,909
FormFactor, Inc. (a)		28,639		263,479
Inphi Corp. (a)		19,333		441,952
Integrated Device Technology, Inc. (a)		74,791		1,622,965
Integrated Silicon Solution, Inc.		16,023		354,749
Intersil Corp., Class A		66,325		829,726
IXYS Corp.		12,577		192,428
Kopin Corp. (a)		33,991		117,269
Lattice Semiconductor Corp. (a)		59,005		347,539
MA-COM Technology Solutions Holdings, Inc. (a)		11,843		452,995
MaxLinear, Inc., Class A (a)		26,257		317,710
Micrel, Inc.		22,314		310,165
Microsemi Corp. (a)		48,021		1,678,334
Monolithic Power Systems, Inc.		19,856		1,006,898
OmniVision Technologies, Inc. (a)		29,269		766,701
Pericom Semiconductor Corp.		11,235		147,740
PMC—Sierra, Inc. (a)		88,112		754,239
Power Integrations, Inc.		14,794		668,393
Rambus, Inc. (a)		58,295		844,694
Semtech Corp. (a)		33,514		665,253
Sigma Designs, Inc. (a)		17,633		210,362
Silicon Laboratories, Inc. (a)		21,496		1,160,999
Vishay Intertechnology, Inc.		67,929		793,411
				20,452,181
Semiconductors & Semiconductor Equipment — 0.2%
Ambarella, Inc. (a)(b)		15,812		1,623,734
Cascade Microtech, Inc. (a)		6,955		105,890
Xcerra Corp. (a)		27,612		209,023
				1,938,647
Common Stocks	Shares		Value
Shipping — 0.5%
Eagle Bulk Shipping, Inc. (a)		10,549		73,527
Frontline Ltd. (a)		54,540		133,078
GasLog Ltd.		20,983		418,611
Golden Ocean Group, Ltd. (b)		33,501		128,979
Gulfmark Offshore, Inc., Class A		12,637		146,589
Matson, Inc.		21,956		923,030
Navios Maritime Holdings, Inc.		40,129		149,280
Nordic American Offshore Ltd. (b)		9,448		76,907
Nordic American Tankers Ltd.		45,041		640,933
Safe Bulkers, Inc.		20,456		65,868
Scorpio Tankers, Inc.		90,215		910,269
Ship Finance International Ltd.		29,788		486,140
Teekay Tankers Ltd., Class A		42,715		282,346
Tidewater, Inc.		23,684		538,337
Ultrapetrol Bahamas Ltd. (a)		9,205		10,402
UTI Worldwide, Inc. (a)		46,442		463,956
				5,448,252
Software — 0.4%
Actua Corp. (a)		20,424		291,246
Castlight Health, Inc. (a)(b)		16,824		136,947
Comverse, Inc. (a)		11,210		225,097
Five9, Inc. (a)		11,451		59,889
FleetMatics Group PLC (a)		19,315		904,522
Gigamon, Inc. (a)		13,859		457,208
Globant SA (a)		7,676		233,581
MobileIron, Inc. (a)		19,195		113,442
Model N, Inc. (a)		10,497		125,019
Park City Group, Inc. (a)(b)		5,314		65,841
Paycom Software, Inc. (a)		16,016		546,946
Qualys, Inc. (a)		12,565		506,998
Rally Software Development Corp. (a)		13,080		254,406
The Rubicon Project, Inc. (a)		13,046		195,168
				4,116,310
Specialty Retail — 3.4%
1-800-Flowers.com, Inc., Class A (a)		12,822		134,118
Abercrombie & Fitch Co., Class A		34,965		752,097
America’s Car-Mart, Inc. (a)		4,252		209,709
American Eagle Outfitters, Inc.		98,770		1,700,819
ANN, Inc. (a)		23,202		1,120,425
Asbury Automotive Group, Inc. (a)		13,753		1,246,297
Ascena Retail Group, Inc. (a)		70,576		1,175,443
Barnes & Noble, Inc. (a)		25,497		661,902
bebe Stores, Inc.		14,016		28,032
Big 5 Sporting Goods Corp.		9,573		136,032
Blue Nile, Inc. (a)		5,983		181,823
Boot Barn Holdings, Inc. (a)		6,014		192,448
The Buckle, Inc. (b)		14,272		653,229
Build-A-Bear Workshop, Inc. (a)		7,363		117,734
Burlington Stores, Inc. (a)		38,116		1,951,539
Caleres, Inc.		22,156		704,118
The Cato Corp., Class A		13,275		514,539
Chico’s FAS, Inc.		71,974		1,196,928
The Children’s Place Retail Stores, Inc.		10,417		681,376
Christopher & Banks Corp. (a)		18,731		75,111
Citi Trends, Inc. (a)		7,836		189,631
Conn’s, Inc. (a)		13,844		549,607
The Container Store Group, Inc. (a)(b)		8,125		137,069
Destination XL Group, Inc. (a)		16,937		84,854
Express, Inc. (a)		42,834		775,724
The Finish Line, Inc., Class A		23,225		646,119
Five Below, Inc. (a)		27,444		1,084,861
Francesca’s Holdings Corp. (a)		21,498		289,578
FTD Cos., Inc. (a)		9,228		260,137
Genesco, Inc. (a)		12,121		800,350
Group 1 Automotive, Inc.		11,791		1,070,977

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 49

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

Common Stocks	Shares			Value
Specialty Retail (concluded)
Guess?, Inc.		31,250		$	599,063
Haverty Furniture Cos., Inc.		10,437			225,648
Hibbett Sports, Inc. (a)		12,566			585,324
Lands’ End, Inc. (a)		8,535			211,924
Lithia Motors, Inc., Class A		11,484			1,299,529
Lumber Liquidators Holdings, Inc. (a)(b)		13,714			284,017
MarineMax, Inc. (a)		12,903			303,350
Mattress Firm Holding Corp. (a)		10,338			630,101
The Men’s Wearhouse, Inc.		24,379			1,561,963
Monro Muffler Brake, Inc.		16,029			996,363
Party City Holdco, Inc. (a)		12,665			256,720
The Pep Boys-Manny Moe & Jack (a)		26,777			328,554
Performance Sports Group Ltd. (a)		22,593			406,674
Pier 1 Imports, Inc.		45,570			575,549
Regis Corp. (a)		20,516			323,332
Restoration Hardware Holdings, Inc. (a)		16,836			1,643,699
RetailMeNot, Inc. (a)		19,413			346,134
Shoe Carnival, Inc.		7,551			217,922
Shutterfly, Inc. (a)		18,931			905,091
Sonic Automotive, Inc., Class A		16,630			396,293
Sportsman’s Warehouse Holdings, Inc. (a)		9,172			104,286
Stage Stores, Inc.		16,225			284,424
Stamps.com, Inc. (a)		7,216			530,881
Stein Mart, Inc.		14,777			154,715
Systemax, Inc. (a)		5,534			47,814
Tilly’s, Inc., Class A (a)		5,419			52,402
Vitamin Shoppe, Inc. (a)		15,038			560,466
Wayfair, Inc., Class A (a)		10,085			379,599
Zumiez, Inc. (a)		10,968			292,078
					33,826,541
Steel — 0.2%
AK Steel Holding Corp. (a)		89,867			347,785
Carbonite, Inc. (a)		8,912			105,251
Carpenter Technology Corp.		25,286			978,063
Handy & Harman Ltd. (a)		1,379			47,782
Olympic Steel, Inc.		4,453			77,660
Ryerson Holding Corp. (a)		5,393			49,076
Schnitzer Steel Industries, Inc., Class A		13,217			230,901
TimkenSteel Corp.		20,008			540,016
					2,376,534
Technology: Miscellaneous — 0.2%
Benchmark Electronics, Inc. (a)		26,387			574,709
CTS Corp.		16,741			322,599
Fabrinet (a)		17,858			334,481
Kimball Electronics, Inc. (a)		14,602			213,043
Pendrell Corp. (a)		84,978			116,420
Plexus Corp. (a)		16,931			742,932
					2,304,184
Telecommunications Equipment — 0.2%
Applied Optoelectronics, Inc. (a)		7,624			132,353
CalAmp Corp. (a)		18,352			335,107
Clearfield, Inc. (a)(b)		5,995			95,380
Inteliquent, Inc.		16,985			312,524
Knowles Corp. (a)		42,671			772,345
Oclaro, Inc. (a)		50,410			113,927
Ubiquiti Networks, Inc.		15,422			492,193
Vocera Communications, Inc. (a)		13,157			150,648
					2,404,477
Textile Products — 0.1%
Culp, Inc.		5,145			159,495
Interface, Inc.		33,294			834,015
Unifi, Inc. (a)		7,579			253,896
					1,247,406
Common Stocks	Shares			Value
Textiles Apparel & Shoes — 0.9%
Cherokee, Inc.		4,164			117,342
Columbia Sportswear Co.		14,373			868,992
Crocs, Inc. (a)		38,851			571,498
Deckers Outdoor Corp. (a)		17,420			1,253,717
G-III Apparel Group Ltd. (a)		20,063			1,411,432
Iconix Brand Group, Inc. (a)		24,184			603,874
Oxford Industries, Inc.		7,395			646,693
Perry Ellis International, Inc. (a)		6,165			146,542
Quiksilver, Inc. (a)(b)		68,459			45,375
Sequential Brands Group, Inc. (a)		12,619			192,944
Steven Madden Ltd. (a)		28,369			1,213,626
Superior Uniform Group, Inc.		3,539			58,535
Tumi Holdings, Inc. (a)		28,277			580,244
Vera Bradley, Inc. (a)		10,708			120,679
Vince Holding Corp. (a)		7,702			92,270
Weyco Group, Inc.		3,141			93,665
Wolverine World Wide, Inc.		52,111			1,484,121
					9,501,549
Tobacco — 0.2%
Universal Corp.		11,431			655,225
Vector Group Ltd.		40,810			957,403
					1,612,628
Toys — 0.0%
JAKKS Pacific, Inc. (a)(b)		10,261			101,481
Transportation Miscellaneous — 0.4%
Echo Global Logistics, Inc. (a)		15,083			492,611
Hub Group, Inc., Class A (a)		18,145			731,969
Scorpio Bulkers, Inc. (a)		89,967	��		146,646
Textainer Group Holdings Ltd.		11,158			290,220
Wesco Aircraft Holdings, Inc. (a)		30,741			465,726
XPO Logistics, Inc. (a)		36,060			1,629,191
					3,756,363
Truckers — 0.8%
ArcBest Corp.		13,218			420,332
Celadon Group, Inc.		13,803			285,446
Con-way, Inc.		29,037			1,114,150
Covenant Transportation Group, Inc., Class A (a)		5,967			149,533
Forward Air Corp.		15,557			813,009
FRP Holdings, Inc. (a)		3,336			108,187
Heartland Express, Inc.		25,301			511,839
Knight Transportation, Inc.		31,484			841,882
Marten Transport Ltd.		11,722			254,367
PAM Transportation Services, Inc. (a)		1,577			91,545
Quality Distribution, Inc. (a)		14,147			218,713
Roadrunner Transportation Systems, Inc. (a)		14,344			370,075
Saia, Inc. (a)		12,718			499,690
Swift Transportation Co. (a)		44,675			1,012,782
Universal Truckload Services, Inc.		4,085			89,707
USA Truck, Inc. (a)		4,904			104,112
Werner Enterprises, Inc.		22,384			587,580
YRC Worldwide, Inc. (a)		16,361			212,366
					7,685,315
Utilities: Electrical — 1.6%
ALLETE, Inc.		24,588			1,140,637
Atlantic Power Corp.		61,001			187,883
Avista Corp.		31,475			964,709
Black Hills Corp.		22,593			986,184
Cleco Corp.		30,410			1,637,579
El Paso Electric Co.		20,312			704,014
The Empire District Electric Co.		21,774			474,673
Genie Energy Ltd. (a)		6,177			64,673
IDACORP, Inc.		25,382			1,424,946
MGE Energy, Inc.		17,393			673,631

See Notes to Financial Statements.

50 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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

Common Stocks	Shares		Value
Utilities: Electrical (concluded)
NorthWestern Corp.		23,705	$	1,155,619
NRG Yield, Inc., Class A		17,852		392,566
NRG Yield, Inc., Class C		16,972		371,517
Otter Tail Corp.		18,744		498,590
Pattern Energy Group, Inc.		25,792		731,977
PNM Resources, Inc.		40,340		992,364
Portland General Electric Co.		39,757		1,318,342
Spark Energy, Inc., Class A		1,500		23,640
Talen Energy Corp. (a)		41,773		716,825
UIL Holdings Corp.		28,637		1,312,147
Unitil Corp.		6,871		226,880
				15,999,396
Utilities: Gas Distributors — 0.8%
Chesapeake Utilities Corp.		7,660		412,491
The Laclede Group, Inc.		21,932		1,141,780
New Jersey Resources Corp.		43,227		1,190,904
Northwest Natural Gas Co.		13,463		567,869
Piedmont Natural Gas Co., Inc.		39,560		1,396,864
South Jersey Industries, Inc.		34,515		853,556
Southwest Gas Corp.		23,663		1,259,108
WGL Holdings, Inc.		25,184		1,367,239
				8,189,811
Utilities: Miscellaneous — 0.1%
Ormat Technologies, Inc.		18,729		705,709
Utilities: Telecommunications — 1.0%
8x8, Inc. (a)		44,425		398,048
Atlantic Tele-Network, Inc.		5,110		352,999
Boingo Wireless, Inc. (a)		18,280		150,993
Cincinnati Bell, Inc. (a)		106,871		408,247
Cogent Communications Group, Inc.		23,125		782,550
Consolidated Communications Holdings, Inc.		25,390		533,444
Fairpoint Communications, Inc. (a)		10,382		189,160
General Communication, Inc., Class A (a)		17,845		303,543
Globalstar, Inc. (a)(b)		239,059		504,414
GTT Communications, Inc. (a)		12,402		296,036
Hawaiian Telcom Holdco, Inc. (a)		5,377		140,340
IDT Corp., Class B		8,472		153,174
inContact, Inc. (a)		31,193		307,875
Iridium Communications, Inc. (a)		41,893		380,807
j2 Global, Inc.		24,305		1,651,282
Lumos Networks Corp.		11,340		167,719
NeuStar, Inc., Class A (a)		9,676		282,636
NTELOS Holdings Corp. (a)		8,432		38,956
ORBCOMM, Inc. (a)		30,248		204,174
Premiere Global Services, Inc. (a)		23,525		242,072
Shenandoah Telecommunications Co.		12,205		417,777
Spok Holdings, Inc.		11,299		190,275
Straight Path Communications, Inc., Class B (a)		4,762		156,146
Vonage Holdings Corp. (a)		94,096		462,011
West Corp.		26,271		790,757
Windstream Holdings, Inc.		50,608		322,879
				9,828,314
Common Stocks	Shares		Value
Utilities: Water — 0.2%
American States Water Co.		19,133		715,383
Artesian Resources Corp., Class A		3,795		80,036
California Water Service Group		24,052		549,588
Connecticut Water Service, Inc.		5,618		191,911
Consolidated Water Co. Ltd.		7,061		88,969
Middlesex Water Co.		7,960		179,578
SJW Corp.		8,005		245,673
York Water Co.		6,555		136,737
				2,187,875
Total Common Stocks — 94.7%				950,900,569
Other Interests (d) — 0.0%	Beneficial Interest (000)
Gerber Scientific, Inc.	$	13		128
Rights	Shares
Health Care Management Services — 0.0%
Bioscrip, Inc. (a)		105		—
Utilities: Telecommunications — 0.0%
Leap Wireless, CVR (a)		28,200		71,064
Total Rights — 0.0%				71,064
Warrants (e) — 0.0%
Magnum Hunter Resources Corp., (Issued 10/15/13, 1 Share for 10 Warrant, Expires 4/15/16, Strike Price $8.50)		7,791		—
Total Long-Term Investments (Cost — $677,252,650) — 94.7%				950,971,761
Short-Term Securities
BlackRock Liquidity Funds, TempFund, Institutional Class, 0.07% (c)(f)		43,745,299		43,745,299
	Beneficial Interest (000)
BlackRock Liquidity Series, LLC, Money Market Series, 0.23% (c)(f)(g)	$	16,414		16,414,073
Total Short-Term Securities (Cost — $60,159,372) — 6.0%				60,159,372
Total Investments (Cost — $737,412,022) — 100.7%				1,011,131,133
Liabilities in Excess of Other Assets — (0.7)%				(6,749,880	)
Net Assets — 100.0%			$	1,004,381,253

Notes to Schedule of Investments

(a) Non-income producing security.

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

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 51

Schedule of Investments (continued) Master Small Cap Index Series

(c) During the six months ended June 30, 2015, investments in issuers considered to be affiliates of the Series for purposes of Section 2(a)(3) of the 1940 Act were as follows:

Affiliate	Shares/ Beneficial Interest Held at December 31, 2014		Shares/ Beneficial Interest Purchased			Shares/ Beneficial Interest Sold			Shares/ Beneficial Interest Held at June 30, 2015		Value at June 30, 2015		Income
BlackRock Liquidity Funds,TempFund, Institutional Class		14,055,813		29,689,486	1		—			43,745,299	$	43,745,299	$	14,517
BlackRock Liquidity Series, LLC, Money Market Series	$	18,352,402		—		$	(1,938,329	)2	$	16,414,073	$	16,414,073	$	880,900	3
PennyMac Financial Services, Inc.		5,912		—			—			5,912	$	107,125		—
PennyMac Mortgage Investment Trust		28,817		—			—			28,817	$	502,280	$	17,578
1   Represents net shares purchased.
2   Represents beneficial interest sold.
3   Represents securities lending income earned from reinvestment of cash collateral from loaned securities, net of fees, and other payments to and from borrowers of securities, and less the collateral investment expenses.

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

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

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

(g) 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.

• As of June 30, 2015, financial futures contracts outstanding were as follows:

Contracts Long		Issue	Exchange	Expiration	Notional Value		Unrealized Depreciation
	319	Russell 2000 Mini Index	ICE Futures U.S. Indicies	September 2015	$	39,887,760	$	(419,342	)

• 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. 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. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. The three levels of the fair value hierarchy are as follows:

• Level 1 — unadjusted quoted prices 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)

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. For information about the Series’ policy regarding valuation of investments and derivative financial instruments, refer to Note 2 of the Notes to Financial Statements.

As of June 30, 2015, the following tables summarize the Series’ investments and derivative financial instruments categorized in the disclosure hierarchy:

	Level 1			Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments4
Common Stocks	$	950,796,702		$	73,837	$	30,030	$	950,900,569
Other Interests		—			—		128		128
Rights		—			—		71,064		71,064
Short-Term Securities		43,745,299			16,414,073		—		60,159,372
Total	$	994,542,001		$	16,487,910	$	101,222	$	1,011,131,133
4    See above Schedule of Investments for values in each sector.
	Level 1			Level 2		Level 3		Total
Derivative Financial Instruments 5
Liabilities:
Equity contracts	$	(419,342	)		—		—	$	(419,342	)
5    Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

See Notes to Financial Statements.

52 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Schedule of Investments (concluded) Master Small Cap Index Series

The Series may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of June 30, 2015, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
	Level 1		Level 2			Level 3		Total
Assets:
Cash pledged for financial futures contracts	$	1,937,400		—			—		1,937,400
Liabilities:
Bank overdraft		—	$	(1,404,470	)		—	$	(1,404,470	)
Collateral on securities loaned at value		—		(16,414,073	)		—		(16,414,073	)
Total	$	1,937,400	$	(17,818,543	)		—	$	(15,881,143	)

During the six months ended June 30, 2015, there were no transfers between levels.

See Notes to Financial Statements.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 53

Statements of Assets and Liabilities

June 30, 2015 (Unaudited)	Master International Index Series		Master Small Cap Index Series
Assets
Investments at value — unaffiliated1,2	$	3,612,929,755	$	950,362,356
Investments at value — affiliated3		13,596,139		60,768,777
Cash pledged for financial futures contracts		3,548,560		1,937,400
Foreign currency at value4		72,427,156		—
Receivables:
Dividends		11,015,106		1,095,966
Contributions from investors		5,464,639		13,864,639
Investments sold		88,732		102,361,846
Securities lending income — affiliated		11,834		163,170
Variation margin receivable on financial futures contracts		—		191,247
Prepaid expenses		2,170		1,506
Total assets		3,719,084,091		1,130,746,907
Liabilities
Bank overdraft		—		1,404,470
Payables:
Investments purchased		20,205,622		98,792,961
Withdrawals to investors		10,884,541		9,552,965
Investment advisory fees		30,582		6,253
Other affiliates		5,991		3,980
Directors’ fees		4,662		2,463
Collateral on securities loaned at value		3,524,062		16,414,073
Variation margin payable on financial futures contracts		2,280,281		—
Other accrued expenses		649,002		188,489
Total liabilities		37,584,743		126,365,654
Net Assets	$	3,681,499,348	$	1,004,381,253
Net Assets Consist of
Investors’ capital	$	3,437,048,886	$	731,081,484
Net unrealized appreciation (depreciation)		244,450,462		273,299,769
Net Assets	$	3,681,499,348	$	1,004,381,253
1    Investments at cost — unaffiliated	$	3,367,954,960	$	676,566,112
2    Securities loaned at value	$	3,270,116	$	13,307,033
3    Investments at cost — affiliated	$	13,596,139	$	60,845,910
4    Foreign currency at cost	$	72,347,724		—

See Notes to Financial Statements.
54	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Statements of Operations

Six Months Ended June 30, 2015 (Unaudited)	Master International Index Series			Master Small Cap Index Series
Investment Income
Dividends — unaffiliated	$	70,421,219		$	5,117,141
Securities lending — affiliated — net		138,285			880,900
Dividends — affiliated		6,524			32,095
Foreign taxes withheld		(8,644,069	)		(4,373	)
Total income		61,921,959			6,025,763
Expenses
Investment advisory		157,412			45,135
Accounting services		274,378			82,071
Custodian		241,446			100,783
Professional		47,155			35,659
Directors		35,545			12,226
Printing		10,871			10,057
Miscellaneous		41,142			22,407
Total expenses		807,949			308,338
Less fees waived and/or reimbursed by the Manager		(5,074	)		(12,825	)
Total expenses after fees waived and/or reimbursed		802,875			295,513
Net investment income		61,119,084			5,730,250
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		(16,346,476	)		29,806,312
Financial futures contracts		6,393,154			1,394,002
Foreign currency transactions		(2,596,801	)		(22	)
		(12,550,123	)		31,200,292
Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated		97,457,255			8,560,375
Investments — affiliated		—			(100,624	)
Financial futures contracts		(2,186,124	)		(759,905	)
Foreign currency translations		478,850			—
		95,749,981			7,699,846
Net realized and unrealized gain		83,199,858			38,900,138
Net Increase in Net Assets Resulting from Operations	$	144,318,942		$	44,630,388

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	55

Statements of Changes in Net Assets

	Master International Index Series
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31, 2014
Operations
Net investment income	$	61,119,084		$	39,593,185
Net realized loss		(12,550,123	)		(10,016,117	)
Net change in unrealized appreciation (depreciation)		95,749,981			(154,439,873	)
Net increase (decrease) in net assets resulting from operations		144,318,942			(124,862,805	)
Capital Transactions
Proceeds from contributions		1,297,775,878			2,104,755,672
Value of withdrawals		(430,956,711	)		(322,345,637	)
Net increase in net assets derived from capital transactions		866,819,167			1,782,410,035
Net Assets
Total increase in net assets		1,011,138,109			1,657,547,230
Beginning of period		2,670,361,239			1,012,814,009
End of period	$	3,681,499,348		$	2,670,361,239
	Master Small Cap Index Series
Increase (Decrease) in Net Assets:	Six Months Ended June 30, 2015 (Unaudited)			Year Ended December 31, 2014
Operations
Net investment income	$	5,730,250		$	10,354,007
Net realized gain		31,200,292			53,378,759
Net change in unrealized appreciation (depreciation)		7,699,846			(29,791,650	)
Net increase in net assets resulting from operations		44,630,388			33,941,116
Capital Transactions
Proceeds from contributions		353,987,925			181,052,489
Value of withdrawals		(95,171,966	)		(373,456,979	)
Net increase (decrease) in net assets derived from capital transactions		258,815,959			(192,404,490	)
Net Assets
Total increase (decrease) in net assets		303,446,347			(158,463,374	)
Beginning of period		700,934,906			859,398,280
End of period	$	1,004,381,253		$	700,934,906

See Notes to Financial Statements.
56	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015

Financial Highlights Master International Index Series

	Six Months Ended June 30, 2015 (Unaudited)		Year Ended December 31,
			2014		2013		2012		2011		2010
Total Return
Total Return		6.34%1		(6.02)%		21.94%		19.01%		(12.34)%		7.66%
Ratios to Average Net Assets
Total expenses		0.05%2		0.07%		0.07%		0.06%		0.08%		0.11%
Total expenses after fees waived and/or reimbursed and paid indirectly		0.05%2		0.07%		0.07%		0.06%		0.08%		0.10%
Net investment income		3.88%2		3.20%		2.97%		3.36%		3.38%		2.73%
Supplemental Data
Net assets, end of period (000)		$3,684,194		$2,670,361		$1,012,814		$758,144		$855,781		$922,700
Portfolio turnover rate		4%		6%		8%		21%		6%		8%

Master Small Cap Index Series

	Six Months Ended June 30, 2015 (Unaudited)		Year Ended December 31,
			2014		2013		2012		2011		2010
Total Return
Total Return		4.96%1		5.05%		39.11%		16.52%		(4.30)%		27.19%
Ratios to Average Net Assets
Total expenses		0.07%2		0.09%		0.07%		0.14%		0.09%		0.12%
Total expenses after fees waived and/or reimbursed and paid indirectly		0.07%2		0.08%		0.06%		0.08%		0.07%		0.08%
Net investment income		1.27%2		1.45%		1.46%		2.13%		1.46%		1.27%
Supplemental Data
Net assets, end of period (000)		$ 1,004,381		$ 700,935		$ 859,398		$ 581,771		$ 529,054		$ 338,172
Portfolio turnover rate		17%		21%		22%		68%		31%		42%

¹  Aggregate total return.

²  Annualized.

See Notes to Financial Statements.
	BLACKROCK INDEX FUNDS, INC.	JUNE 30, 2015	57

Notes to Financial Statements (Unaudited) Quantitative Master Series LLC

1. Organization:

Master International Index Series (“Master International Index”) and Master Small Cap Index Series (“Master Small Cap Index”) (collectively, the “Series”, or individually, a “Series”) are a series of Quantitative Master Series LLC (the “Master LLC”) which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Master LLC’s Limited Liability Company Agreement permits the Board of Directors of the Master LLC (the “Board”) to issue non-transferable interests, 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 (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. The Series is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Series:

Valuation: The Series’ investments are valued at fair value as of the close of trading on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m., Eastern time). U.S. GAAP defines fair value as the price the Series would 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 of Directors of the Series (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 are valued at the official close price each day, if available. For equity investments traded on more than one exchange, the official close price on the exchange where the stock is primarily traded is used. Equity investments traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. Financial futures contracts traded on exchanges are valued at their last sale price.

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

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

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

58 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Notes to Financial Statements (continued) Quantitative Master Series LLC

reflected in the computation of the Series’ net assets. If events (e.g., a company announcement, market volatility or a natural disaster) occur during such periods that are expected to materially affect the value of such instruments, those instruments may be Fair Value Investments and be 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 uses a pricing service to assist with the valuation of certain foreign exchange-traded equity securities and foreign exchange-traded and OTC options (the “Systematic Fair Value Price”). Using current market factors, the Systematic Fair Value Price is designed to value such foreign securities and foreign options at fair value as of the close of business on the NYSE, which follows the close of the local markets.

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

The Series does 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 reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for federal income tax purposes.

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

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

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

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

3. Securities and Other Investments:

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

Securities Lending: The Series may lend their securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Series collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. Government. The initial collateral received by each Series is required to have a value of at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current market value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Series and any additional required collateral is delivered to the Series, or excess collateral returned by the Series, on the next business day. During the term of the loan, the Series are entitled to all distributions made on or in respect of the loaned securities. 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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 59

Notes to Financial Statements (continued) Quantitative Master Series LLC

The market value of securities on loan, all of which were classified as common stocks in the Series’ Schedules of Investments, and the value of the related collateral are shown separately in the Statements of Assets and Liabilities as a component of investments at value-unaffiliated, and collateral on securities loaned at value, respectively. As of June 30, 2015, any securities on loan were collateralized by cash. The cash collateral invested by the securities lending agent, BlackRock Investment Management, LLC (“BIM”), if any, is disclosed in the Schedules of Investments.

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

As of June 30, 2015, the following table is a summary of the Series’ securities lending agreements by counterparty, which are subject to offset under an MSLA:

Master International Index
Counterparty	Securities Loaned at Value		Cash Collateral Received1			Net Amount
Barclays Capital Inc.	$	295,674	$	(295,674	)		—
Credit Suisse Securities (USA) LLC		210,683		(210,683	)		—
Deutsche Bank Securities, Inc.		151,889		(151,889	)		—
JP Morgan Clearing Corp.		1,905,342		(1,905,342	)		—
Merrill Lynch, Pierce, Fenner & Smith, Inc.		583,268		(583,268	)		—
Morgan Stanley & Co. LLC		123,260		(123,260	)		—
Total	$	3,270,116	$	(3,270,116	)		—

¹  Collateral with a value of $3,524,062 has been received in connection with securities lending agreements. Excess of collateral received from the individual counterparty is not shown for financial reporting purposes.

Master Small Cap Index
Counterparty	Securities Loaned at Value		Cash Collateral Received2				Net Amount
Barclays Capital, Inc.	$	1,073,132	$	(1,073,132	)			—
BNP Paribas Prime Brokerage, Inc.		164,138		(164,138	)			—
Citigroup Global Markets, Inc.		865,449		(865,449	)			—
Credit Suisse Securities (USA) LLC		30,574		(30,574	)	��		—
Deutsche Bank Securities, Inc.		1,177,812		(1,177,812	)			—
Goldman Sachs & Co.		2,915,027		(2,915,027	)			—
JP Morgan Clearing Corp.		1,922,767		(1,922,767	)			—
Merrill Lynch, Pierce, Fenner & Smith, Inc.		295,593		(295,593	)			—
Morgan Stanley & Co. LLC		3,521,443		(3,521,443	)			—
National Financial Services LLC		641,095		(641,095	)			—
Nomura Securities International, Inc.		13,068		(13,068	)			—
UBS Securities LLC		686,935		(686,935	)			—
Total	$	13,307,033	$	(13,307,033	)			—

²  Collateral with a value of $16,414,073 has been received in connection with securities lending agreements. Excess of collateral received from the individual counterparty is not shown for financial reporting purposes.

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

4. Derivative Financial Instruments:

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

60 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Notes to Financial Statements (continued) Quantitative Master Series LLC

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

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

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

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

Fair Values of Derivative Financial Instrument Six Months Ended June 30, 2015
		Value
		Master International Index					Master Small Cap Index
	Statement of Assets and Liabilities Location	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Equity contracts	Net unrealized appreciation (depreciation)1	$	124,818	$	(650,243	)		—	$	(419,342	)

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

The Effect of Derivative Financial Instruments in the Statements of Operations Six Months Ended June 30, 2015
	Net Realized Gain From				Net Change in Unrealized Appreciation (Depreciation) on
	Master International Index		Master Small Cap Index		Master International Index			Master Small Cap Index
Equity Contracts:
Financial futures contracts	$	6,393,154	$	1,394,002	$	(2,186,124	)	$	(759,905	)

For the six months ended June 30, 2015, the average quarterly balances of outstanding derivative financial instruments were as follows:

	Master International Index		Master Small Cap Index
Financial futures contracts:
Average notional value of contracts purchased	$	49,428,316	$	48,668,580

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, 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.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 61

Notes to Financial Statements (continued) Quantitative Master Series LLC

5. Investment Advisory Agreement and Other Transactions with Affiliates:

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

The Master LLC, on behalf of the Series, entered into an Investment Advisory Agreement with the 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 each management of the Series’ portfolio and provides the necessary personnel, facilities, equipment and certain other services to the operations of each Series. For such services, each Series pays the Manager a monthly fee at an annual rate of 0.01% of each Series’ average daily net assets.

The Manager contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, acquired fund fees and expenses, and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of the Series’ business. The expense limitations as a percentage of average daily net assets are as follows: 0.07% for Master International Index and 0.08% for Master Small Cap Index. Prior to April 30, 2015, the expense limitation as a percentage of average daily net assets for Master International Index was 0.12%.

The Manager has agreed not to reduce or discontinue this contractual waiver or reimbursement prior to May 1, 2016, unless approved by the Board, including a majority of the Independent Directors. For the year ended June 30, 2015, the Manager waived $490 with respect to Master Small Cap Index, which is included in fees waived and/or reimbursed by the Manager in the Statements of Operations.

The Manager voluntarily agreed to waive its investment advisory fees by the amount of investment advisory fees each Series pays to the Manager indirectly through its investment in affiliated money market funds. These amounts are included in fees waived and/or reimbursed by the Manager in the Statements of Operations. However, the Manager does not waive its investment advisory fees by the amount of investment advisory fees paid in connection with each Series’ investments in other affiliated investment companies, if any. For the six months ended June 30, 2015 the amounts waived for Master International Index and Master Small Cap Index were $5,074 and $12,335, respectively.

For the six months ended June 30, 2015, each Series reimbursed the Manager for certain accounting services, which is included in accounting services in the Statements of Operations.

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

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

Pursuant to such agreement, each Series retains 80% of securities lending income. In addition, commencing the business day following the date that the aggregate securities lending income earned across certain funds in the Equity-Liquidity Complex in a calendar year exceeds a specified threshold, each Series, pursuant to the securities lending agreement, will retain for the remainder of the calendar year securities lending income in an amount equal to 85% of securities lending income.

The share of securities lending income earned by each Series is shown as securities lending — affiliated — net in the Statements of Operations. For the six months ended June 30, 2015, each Series paid BIM the following amounts for securities lending agent services:

Master International Index	$	34,571
Master Small Cap Index	$	220,225

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

The Series may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is due solely to having a common investment advisor, common officers, or common trustees. For the six months ended June 30, 2015, the purchase and sale transactions with an affiliated fund in compliance with Rule 17a-7 under the 1940 Act were as follows:

	Purchases		Sales
Master Small Cap Index	$	17,773,833	$	31,528,501

62 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Notes to Financial Statements (continued) Quantitative Master Series LLC

6. Purchases and Sales:

For the six months ended June 30, 2015, purchases and sales of investments, excluding short-term securities, were as follows:

	Purchases		Sales
Master International Index	$	1,045,119,755	$	118,015,034
Master Small Cap Index	$	374,115,551	$	144,577,720

7. Income Tax Information:

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

The Series file U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Series’ U.S. federal tax returns remains open for each of the four years ended December 31, 2014. The statutes of limitations on the Funds’ state and local tax returns may remain open for an additional year depending upon the jurisdiction.

Management has analyzed tax laws and regulations and their application to the Series as of June 30, 2015, inclusive of the open tax return years, and does not believe there are any uncertain tax positions that require recognition of a tax liability in the Series’ financial statements.

As of June 30, 2015, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

	Master International Index			Master Small Cap Index
Tax cost	$	3,426,386,686		$	755,434,638
Gross unrealized appreciation	$	341,243,277		$	300,568,491
Gross unrealized depreciation		(141,104,069	)		(44,871,996	)
Net unrealized appreciation	$	200,139,208		$	255,696,495

8. Bank Borrowings:

The Master LLC, on behalf of the Series, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $2.1 billion credit agreement with a group of lenders, under which the Series may borrow to fund shareholder redemptions. Excluding commitments designated for certain individual funds, the Participating Funds, including the Series, can borrow up to an aggregate commitment amount of $1.6 billion, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.06% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) one-month LIBOR (but, in any event, not less than 0.00%) on the date the loan is made plus 0.80% per annum or (b) the Fed Funds rate (but, in any event, not less than 0.00%) in effect from time to time plus 0.80% per annum on amounts borrowed. The agreement expires in April 2016 unless extended or renewed. Participating Funds paid administration, legal and arrangement fees, which are included in miscellaneous expenses in the Statements of Operations, and 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. During the six months ended June 30, 2015, the Series did not borrow under the credit agreement.

9. Principal Risks:

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, including to pay principal and interest when due (issuer credit risk). The value of securities held by the Series may decline in response to certain events, including those directly involving the issuers 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, 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 their commitments. The Series manage counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Series to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Series’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is 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

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 63

Notes to Financial Statements (concluded) Quantitative Master Series LLC

significant impact on their investment performance. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be less liquid, more volatile, and less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedules of Investments.

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

As of June 30, 2015, Master Small Cap Index invested a significant portion of its assets in securities in the financial sector. Changes in economic conditions affecting such sectors would have a greater impact on the Master Small Cap Index and could affect the value, income and/or liquidity of positions in such securities.

As of June 30, 2015, the Series investments had the following industry classifications:

Master International Index

Industry Percent of
Long-Term  Investments

Banks	15	%
Pharmaceuticals	10
Telecommunications	6
Insurance	6
Food	5
Oil & Gas	5
Others	53

Master Small Cap Index

Industry Percent of
Long-Term  Investments

Real Estate Investment Trusts	8	%
Banks	8
Retail	6
Commercial Services	5
Pharmaceuticals	5
Software	5
Others	63

10. Subsequent Events:

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

64 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Disclosure of Investment Advisory Agreement

The Board of Directors of Quantitative Master Series LLC (the “Master LLC”) met in person on April 21, 2015 (the “April Meeting”) and May 18-20, 2015 (the “May Meeting”) to consider the approval of the investment advisory agreement (the “Agreement”) between the Master LLC, 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, and BlackRock Advisors, LLC (the “Manager” or “BlackRock”), the Master LLC’s investment advisor. 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 Agreement with respect to each Master Portfolio. For simplicity: (a) the Board of Directors of the Master LLC and the Board of Directors of the Corporation are referred to herein collectively as the “Board,” and the members are referred to as “Board Members;” and (b) the shareholders of each Fund and the interest holders of each Master Portfolio are referred to as “shareholders.”

Activities and Composition of the Board

On the date of the May Meeting, the Board consisted of fourteen individuals, thirteen of whom were not “interested persons” of the Master LLC or the Corporation as defined in the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Board Members”). The Board Members are responsible for the oversight of the operations of the Master LLC or the Corporation, as pertinent, and perform the various duties imposed on the directors of investment companies by the 1940 Act. The Independent Board Members have retained independent legal counsel to assist them in connection with their duties. The Chair of the Board is an Independent Board Member. 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 Agreement

Pursuant to the 1940 Act, the Board is required to consider the continuation of the Agreement on an annual basis. The Board has four quarterly meetings per year, each extending over two days, a fifth one-day meeting to consider specific information surrounding the consideration of renewing the Agreement, and additional in-person and telephonic meetings as needed. In connection with this year-long deliberative process, the Board assessed, among other things, the nature, extent and quality of the services provided to the Master Portfolios and the Funds by BlackRock, BlackRock’s personnel and affiliates, including (as applicable) investment management services; administrative and shareholder services; the oversight of fund service providers; marketing services; risk oversight; compliance; and ability to meet 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 Agreement, including the services and support provided by BlackRock to the Master Portfolios, the Funds and their shareholders. Among the matters the Board considered were: (a) investment performance for one-year, three-year, five-year and/or since inception periods, as applicable, against peer funds, applicable benchmark, and performance metrics, as applicable, as well as senior management’s and portfolio managers’ analysis of the reasons for any over performance or underperformance relative to its peers, benchmark, and other performance metrics, 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(s), policies and restrictions, and meeting new regulatory requirements; (e) the Master LLC’s and the Corporation’s compliance with its respective compliance policies and procedures; (f) the nature, cost and character of non-investment management services provided by BlackRock and its affiliates; (g) BlackRock’s and other service providers’ internal controls and risk and compliance oversight mechanisms; (h) BlackRock’s implementation of the proxy voting policies approved by the Board; (i) the use of brokerage commissions and execution quality of portfolio transactions; (j) BlackRock’s implementation of the Master LLC’s and/or the Corporation’s valuation and liquidity procedures; (k) an analysis of management fees for products with similar investment mandates across the open-end fund, exchange-traded fund (“ETF”), closed-end fund and institutional account product channels, as applicable, and the similarities and differences between these products and the services provided as compared to the Master Portfolios and/or the Funds; (l) BlackRock’s compensation methodology for its investment professionals and the incentives it creates, along with investment professionals’ investments in the fund(s) they manage; 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. BlackRock also furnished information to the Board in response to specific questions. These questions covered issues such as: BlackRock’s profitability; investment performance; sub-advisory and advisory relationships with other clients (including mutual funds sponsored by third parties); the viability of specific funds; fund size and manager capacity; BlackRock’s research capabilities; portfolio managers’ investments in funds they manage; funds’ portfolio risk targets; and management fee levels and breakpoints. The Board further discussed with BlackRock: BlackRock’s management structure; portfolio turnover, execution quality and use of soft dollars; BlackRock’s portfolio manager compensation and performance accountability; marketing support for the funds; services provided to the funds by BlackRock affiliates; and BlackRock’s oversight of relationships with third party service providers.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 65

Disclosure of Investment Advisory Agreement (continued)

Board Considerations in Approving the Agreement

The Approval Process: Prior to the April Meeting, the Board requested and received materials specifically relating to the Agreement. The Board is continuously engaged in a process with its independent legal counsel and BlackRock to review the nature and scope of the information provided to better assist its deliberations. The materials provided in connection with the April Meeting included (a) information independently compiled and prepared by Lipper, Inc. (“Lipper”) on fees and expenses of each Master Portfolio and Fund, as applicable, as compared with a peer group of funds as determined by Lipper (“Expense Peers”) and the investment performance of each Fund as compared with a peer group of funds as determined by Lipper¹, as well as the gross investment performance of each Fund as compared with its benchmark; (b) information on the profits realized by BlackRock and its affiliates pursuant to the Agreement and a discussion of fall-out benefits to BlackRock and its affiliates; (c) a general analysis provided by BlackRock concerning investment management fees charged to other clients, such as institutional clients, sub-advised mutual funds, 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 Agreement. As a result of the discussions that occurred during the April Meeting, and as a culmination of the Board’s year-long deliberative process, the Board presented BlackRock with questions and requests for additional information. BlackRock responded to these requests with additional written information in advance of the May Meeting.

At the May Meeting, the Board of the Master LLC, including the Independent Board Members, approved the continuation of the Agreement between the Manager and the Master LLC with respect to each Master Portfolio for a one-year term ending June 30, 2016. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Agreement with respect to each Master Portfolio and found the Agreement to be satisfactory. In approving the continuation of the Agreement, the Board of the Master LLC considered: (a) the nature, extent and quality of the services provided by BlackRock; (b) the investment performance of each Master Portfolio, each Fund and BlackRock; (c) the advisory fee and the cost of the services and profits to be realized by BlackRock and its affiliates from their relationship with the Master Portfolios and the Funds; (d) each Fund’s costs to investors compared to the costs of Expense Peers and performance compared to the relevant performance comparison as previously discussed; (e) the sharing of potential economies of scale; (f) fall-out benefits to BlackRock and its affiliates as a result of its relationship with the Master Portfolios and the Funds; and (g) other factors deemed relevant by the Board Members.

The Board also considered other matters it deemed important to the approval process, such as payments made to BlackRock or its affiliates relating to the distribution of Fund shares, securities lending and cash management, 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, relevant benchmark, and performance metrics, as applicable. The Board met with BlackRock’s senior management personnel responsible for investment activities, including the senior investment officers. The Board also reviewed the materials provided by each Master Portfolio’s portfolio management team discussing Master Portfolio performance and the Master Portfolio’s investment objective(s), 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; BlackRock’s research capabilities; investments by portfolio managers in the funds they manage; portfolio trading capabilities; use of technology; commitment to compliance; credit analysis capabilities; risk analysis and oversight capabilities; and the approach to training and retaining portfolio managers and other research, advisory and management personnel. The Board engaged in a review of BlackRock’s compensation structure with respect to each Master Portfolio’s portfolio management team and BlackRock’s ability to attract and retain high-quality talent and create performance incentives.

In addition to advisory services, the Board considered the quality of the administrative and other non-investment advisory services provided to each Master Portfolio and Fund. BlackRock and its affiliates provide the Master Portfolios and the Funds with certain administrative, shareholder and other services (in addition to any such services provided to the Master Portfolios and the Funds by third parties) and officers and other personnel as are necessary for the operations of the Master Portfolios and the Funds. In particular, BlackRock and its affiliates provide the Master Portfolios and the Funds with the following administrative services, including, among others: (i) preparing disclosure documents, such as the prospectus, the summary prospectus (as applicable), the statement of additional information and periodic shareholder reports; (ii) oversight of daily accounting and pricing; (iii) overseeing and coordinating the

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

66 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Disclosure of Investment Advisory Agreement (continued)

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

B. The Investment Performance of the Master Portfolios, the Funds and BlackRock: The Board, including the Independent Board Members, also reviewed and considered the performance history of each Master Portfolio and Fund, as applicable. The Board noted that each Fund’s investment results correspond directly to the investment results of the applicable Master Portfolio. In preparation for the April Meeting, the Board worked with its independent legal counsel, BlackRock and Lipper to develop a template for, and was provided with, reports independently prepared by Lipper, which included a comprehensive analysis of each Fund’s performance. The Board also reviewed a narrative and statistical analysis of the Lipper data that was prepared by BlackRock. 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.

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

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

The Board noted that for the one-, three- and five-year periods reported, BlackRock International Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was out of tolerance of its benchmark, underperformed its benchmark and underperformed its benchmark, respectively. The Board and BlackRock reviewed and discussed the reasons for BlackRock International Index Fund’s out of tolerance performance during the one-year period. The Board was informed that, underperformance for the one-year period was due in part to large flows into the Fund.

The Board noted that for the one-, three- and five-year periods reported, BlackRock Small Cap Index Fund’s gross performance (before expenses and fees), as agreed upon by the Board, was within tolerance, out of tolerance and out of tolerance of its benchmark, respectively. The Board noted BlackRock Small Cap Index Fund’s improved performance during the one-year period. The Board and BlackRock reviewed and discussed the reasons for the Fund’s out of tolerance performance during the three- and five-year periods. The Board was informed that, among other things, one of the factors which caused the Fund to exceed the benchmark, by an out of tolerance amount, in the three- and five-year periods was the result of securities lending.

The Board and BlackRock also discussed BlackRock’s strategy for improving the performance of each Master Portfolio/Fund and BlackRock’s commitment to providing the resources necessary to assist the portfolio managers of each Master Portfolio in seeking to do so.

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 relevant Fund’s Lipper category. The contractual management fee rate represents a combination of the advisory fee and any administrative fees, before taking into account any reimbursements or fee waivers. The Board also compared each Fund’s total expense ratio, as well as each Master Portfolio’s/Fund’s actual management fee rate, to those of other funds in the relevant Fund’s Lipper category. The total expense ratio represents a fund’s total net operating expenses, including any 12b-1 or non-12b-1 service fees. The total expense ratio gives effect to any expense reimbursements or fee waivers that benefit a fund, and the actual management fee rate gives effect to any management fee reimbursements or waivers that benefit a fund. The Board considered the services provided and the fees charged by BlackRock and its affiliates to other types of clients with similar investment mandates, as applicable, including institutional accounts and sub-advised mutual funds.

The Board received and reviewed statements relating to BlackRock’s financial condition. The Board reviewed BlackRock’s profitability methodology and was also provided with a profitability analysis that detailed the revenues earned and the expenses incurred by BlackRock for services provided to the 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, 2014 compared to available aggregate profitability data provided for the two prior years. The Board reviewed BlackRock’s profitability with respect to certain other U.S. fund complexes managed by the Manager and/or its affiliates. The Board reviewed BlackRock’s assumptions and methodology of allocating expenses in the profitability analysis, noting the inherent limitations in allocating costs among various advisory products. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers and expense reimbursements by the Manager, the types of funds managed, precision of expense allocations and business mix. As a result, calculating and comparing profitability at individual fund levels is difficult.

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 67

Disclosure of Investment Advisory Agreement (concluded)

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

The Board noted that with respect to each Master Portfolio/Fund, the Master Portfolio’s/Fund’s contractual management fee rate ranked in the first quartile, and the actual management fee rate and the corresponding Fund’s total expense ratio ranked in the first and second quartiles, respectively, relative to the Fund’s Expense Peers. The Board also noted that BlackRock has contractually agreed to a cap on each Master Portfolio’s total expenses as a percentage of the Master Portfolio’s average daily net assets and has contractually agreed to a cap on each Fund’s total expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis. The Board noted that BlackRock proposed, and the Board agreed to, a lower contractual expense cap on Master International Index Series and a lower contractual expense cap on each Fund on a class-by-class basis. These expense cap reductions were implemented on April 30, 2015. The Board also noted that BlackRock proposed, and the Board agreed to, a contractual reduction of each Fund’s administration fee. This administration fee reduction was implemented on April 30, 2015.

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

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

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

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

Conclusion

The Board of the Master LLC, including the Independent Board Members, approved the continuation of the Agreement between the Manager and the Master LLC, with respect to each Master Portfolio, for a one-year term ending June 30, 2016. 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 Agreement were fair and reasonable and in the best interest of each Master Portfolio and its shareholders. The Board of the Corporation, including the Independent Board Members, also considered the continuation of the Agreement with respect to each Master Portfolio and found the Agreement to be satisfactory. In arriving at its decision to approve the Agreement, the Board of the Master LLC did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and different Board Members may have attributed different weights to the various factors considered. The Independent Board Members were also assisted by the advice of independent legal counsel in making this determination. The contractual fee arrangements for the Master Portfolios reflect the results of several years of review by the Board Members and predecessor Board Members, and discussions between such Board Members (and predecessor Board Members) and BlackRock. As a result, the Board Members’ conclusions may be based in part on their consideration of these arrangements in prior years.

68 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

Officers and Directors

Rodney D. Johnson, Chair of the Board and Director

David O. Beim, Director

Collette Chilton, Director

Frank J. Fabozzi, Director

Dr. Matina S. Horner, Director

Herbert I. London, Director

Cynthia A. Montgomery, Director

Barbara G. Novick, Director

Joseph P. Platt, Director

Robert C. Robb, Jr., Director

Toby Rosenblatt, Director

Mark Stalnecker, Director

Kenneth L. Urish, Director

Frederick W. Winter, Director

John M. Perlowski, President and Chief Executive Officer

Jennifer McGovern, Vice President

Neal Andrews, Chief Financial Officer

Jay Fife, Treasurer

Charles Park, Chief Compliance Officer

Fernanda Piedra, Anti-Money Laundering Compliance Officer

Benjamin Archibald, Secretary

Effective March 1, 2015, Charles Park resigned as Anti-Money Laundering Compliance Officer of the Corporation/Master LLC and Fernanda Piedra became Anti-Money Laundering Compliance Officer of the Corporation/Master LLC.

Effective May 18, 2015, Ian MacKinnon resigned as a Director of the Corporation/Master LLC.

Investment Advisor BlackRock Advisors, LLC Wilmington, DE 19809	Custodian State Street Bank and Trust Company Boston, MA 02110	Accounting Agent State Street Bank and Trust Company Boston, MA 02110	Distributor BlackRock Investments, LLC New York, NY 10022	Address of the Funds 100 Bellevue Parkway Wilmington, DE 19809
	Transfer Agent BNY Mellon Investment Servicing (US) Inc. Wilmington, DE 19809	Independent Registered Public Accounting Firm Deloitte & Touche LLP Boston, MA 02116	Legal Counsel Sidley Austin LLP New York, NY 10019

BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015 69

Additional Information

General Information

Householding

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

Availability of Quarterly Schedule of Investments

The Funds/Series file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’/Series’ Forms N-Q are available on the SEC’s website at http://www.sec.gov and may also be reviewed and copied at the SEC’s Public Reference Room in Washington, 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 upon request and without charge (1) by calling (800) 441-7762; (2) at http://www.blackrock.com; and (3) on the SEC’s website at http://www.sec.gov.

Availability of Proxy Voting Record

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

BlackRock’s Mutual Fund Family

BlackRock offers a diverse lineup of open-end mutual funds crossing all investment styles and managed by experts in equity, fixed income and tax-exempt investing. Visit http://www.blackrock.com for more information.

70 BLACKROCK INDEX FUNDS, INC. JUNE 30, 2015

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, 2015 71

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

Index2-6/15-SAR

Item 2 –	Code of Ethics – Not Applicable to this semi-annual report
Item 3 –	Audit Committee Financial Expert – Not Applicable to this semi-annual report
Item 4 –	Principal Accountant Fees and Services – Not Applicable to this semi-annual report
Item 5 –	Audit Committee of Listed Registrants – Not Applicable
Item 6 –	Investments
	(a) The registrants’ Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this Form.
	(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
Item 7 –	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable
Item 8 –	Portfolio Managers of Closed-End Management Investment Companies – Not Applicable
Item 9 –	Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable
Item 10 –	Submission of Matters to a Vote of Security Holders –There have been no material changes to these procedures.
Item 11 –	Controls and Procedures
	(a) – The registrants’ principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants’ disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.
	(b) – There were no changes in the registrants’ internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrants’ internal control over financial reporting.
Item 12 –	Exhibits attached hereto
	(a)(1) – Code of Ethics – Not Applicable to this semi-annual report
	(a)(2) – Certifications – Attached hereto
	(a)(3) – Not Applicable
	(b) – Certifications – Attached hereto

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

BlackRock Index Funds, Inc. and Quantitative Master Series LLC
By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC
Date: September 3, 2015

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

By:	/s/ John M. Perlowski
	John M. Perlowski
	Chief Executive Officer (principal executive officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC
Date: September 3, 2015
By:	/s/ Neal J. Andrews
	Neal J. Andrews
	Chief Financial Officer (principal financial officer) of
	BlackRock Index Funds, Inc. and Quantitative Master Series LLC
Date: September 3, 2015

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