Schedule of Investments (unaudited) March 31, 2021 | iShares Russell 2000 Small-Cap Index Fund (Percentages shown are based on Net Assets) |
Mutual Fund | Value | |||
| ||||
Master Small Cap Index Series of Quantitative Master Series LLC | $ | 3,204,653,521 | ||
|
| |||
Total Investments — 100.0% | 3,204,653,521 | |||
Liabilities in Excess of Other Assets — (0.0)% | (426,351 | ) | ||
|
| |||
Net Assets — 100.0% | $ | 3,204,227,170 | ||
|
|
iShares Russell 2000 Small-Cap Index Fund (the “Fund”) seeks to achieve its investment objective by investing all of its assets in Master Small Cap Index Series (the “Series”), which has the same investment objective and strategies as the Fund. As of March 31, 2021, the value of the investment and the percentage owned by the Fund of the Series was $3,204,653,521 and 72.5%, respectively.
The Fund records its investment in the Series at fair value. The Fund’s investment in the Series is valued pursuant to the pricing policies approved by the Board of Directors of the Series.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund 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); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments is based on the pricing transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments, refer to the Fund’s most recent financial statements.
Certain investments of the Fund were fair valued using net asset value per share or its equivalent as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
SERIES SCHEDULE OF INVESTMENTS | 1 |
Schedule of Investments (unaudited) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Advertising Agencies — 0.3% | ||||||||
Boston Omaha Corp., Class A(a) | 20,173 | $ | 596,314 | |||||
Cardlytics, Inc.(a)(b) | 46,918 | 5,146,905 | ||||||
Chimera Investment Corp. | 302,809 | 3,845,674 | ||||||
Emerald Holding, Inc. | 39,174 | 216,240 | ||||||
Fluent, Inc.(a)(b) | 60,797 | 249,268 | ||||||
National CineMedia, Inc. | 97,245 | 449,272 | ||||||
QuinStreet, Inc.(a) | 73,771 | 1,497,551 | ||||||
Viad Corp. | 30,340 | 1,266,695 | ||||||
|
| |||||||
13,267,919 | ||||||||
Aerospace — 0.9% | ||||||||
AAR Corp. | 55,190 | 2,298,664 | ||||||
Aerojet Rocketdyne Holdings, Inc. | 109,445 | 5,139,537 | ||||||
AeroVironment, Inc.(a) | 32,896 | 3,817,910 | ||||||
Astronics Corp.(a) | 36,144 | 652,038 | ||||||
Colony Capital, Inc. | 753,986 | 4,885,829 | ||||||
Columbia Property Trust, Inc. | 179,953 | 3,077,196 | ||||||
Cubic Corp. | 48,624 | 3,625,892 | ||||||
Ducommun, Inc.(a) | 15,716 | 942,960 | ||||||
Kaman Corp. | 42,238 | 2,166,387 | ||||||
Kratos Defense & Security Solutions, Inc.(a)(b) | 190,348 | 5,192,693 | ||||||
Macerich Co. | 231,821 | 2,712,306 | ||||||
Moog, Inc., Class A | 44,564 | 3,705,497 | ||||||
Triumph Group, Inc. | 86,585 | 1,591,432 | ||||||
|
| |||||||
39,808,341 | ||||||||
Agriculture, Fishing & Ranching — 0.4% |
| |||||||
Alico, Inc. | 8,483 | 253,302 | ||||||
Andersons, Inc. | 47,652 | 1,304,712 | ||||||
Cadiz, Inc.(a)(b) | 33,554 | 321,783 | ||||||
Calavo Growers, Inc. | 25,263 | 1,961,419 | ||||||
Cal-Maine Foods, Inc.(a) | 56,028 | 2,152,596 | ||||||
Fresh Del Monte Produce, Inc. | 46,986 | 1,345,209 | ||||||
GrowGeneration Corp.(a) | 61,629 | 3,062,345 | ||||||
Limoneira Co. | 25,358 | 443,765 | ||||||
Sanderson Farms, Inc. | 30,581 | 4,763,908 | ||||||
|
| |||||||
15,609,039 | ||||||||
Air Transport — 0.5% | ||||||||
Air Transport Services Group, Inc.(a) | 88,944 | 2,602,501 | ||||||
Allegiant Travel Co. | 20,564 | 5,018,850 | ||||||
Atlas Air Worldwide Holdings, Inc.(a) | 41,918 | 2,533,524 | ||||||
Hawaiian Holdings, Inc. | 72,710 | 1,939,176 | ||||||
Mesa Air Group, Inc.(a)(b) | 50,631 | 680,987 | ||||||
SkyWest, Inc. | 74,955 | 4,083,548 | ||||||
Spirit Airlines, Inc.(a) | 153,641 | 5,669,353 | ||||||
|
| |||||||
22,527,939 | ||||||||
Alternative Energy — 0.2% | ||||||||
Ameresco, Inc., Class A | 37,486 | 1,822,944 | ||||||
Green Brick Partners, Inc. | 53,275 | 1,208,277 | ||||||
Green Plains, Inc. | 51,340 | 1,389,774 | ||||||
REX American Resources Corp. | 8,390 | 706,186 | ||||||
Sunnova Energy International, Inc. | 89,346 | 3,647,104 | ||||||
|
| |||||||
8,774,285 | ||||||||
Aluminum — 0.4% | ||||||||
Alcoa Corp.(a) | 289,649 | 9,410,696 | ||||||
Arconic Corp.(a) | 157,861 | 4,008,091 |
Security | Shares | Value | ||||||
Aluminum (continued) | ||||||||
Century Aluminum Co.(a) | 85,046 | $ | 1,501,912 | |||||
Kaiser Aluminum Corp. | 24,030 | 2,655,315 | ||||||
|
| |||||||
17,576,014 | ||||||||
Asset Management & Custodian — 0.8% |
| |||||||
Arlington Asset Investment Corp., Class A(a) | 50,529 | 204,137 | ||||||
Artisan Partners Asset Management, Inc., Class A | 88,745 | 4,629,827 | ||||||
Assetmark Financial Holdings, Inc.(a) | 25,780 | 601,705 | ||||||
B. Riley Financial, Inc. | 30,730 | 1,732,557 | ||||||
Brightsphere Investment Group, Inc. | 91,917 | 1,873,269 | ||||||
Cohen & Steers, Inc. | 36,798 | 2,404,013 | ||||||
Cowen, Inc., Class A | 39,112 | 1,374,787 | ||||||
Diamond Hill Investment Group, Inc. | 4,531 | 706,881 | ||||||
Federated Hermes, Inc. | 149,025 | 4,664,483 | ||||||
Focus Financial Partners, Inc., Class A(a) | 58,399 | 2,430,566 | ||||||
GAMCO Investors, Inc., Class A | 8,691 | 161,218 | ||||||
Hamilton Lane, Inc., Class A | 48,934 | 4,333,595 | ||||||
Oppenheimer Holdings, Inc., Class A | 12,843 | 514,362 | ||||||
PJT Partners, Inc., Class A | 35,430 | 2,396,840 | ||||||
Pzena Investment Management, Inc., Class A | 27,206 | 286,479 | ||||||
Sculptor Capital Management, Inc. | 27,490 | 601,481 | ||||||
Silvercrest Asset Management Group, Inc., Class A | 13,892 | 199,767 | ||||||
StepStone Group, Inc., Class A | 28,777 | 1,014,965 | ||||||
Virtus Investment Partners, Inc. | 11,204 | 2,638,542 | ||||||
Waddell & Reed Financial, Inc., Class A | 99,408 | 2,490,170 | ||||||
Westwood Holdings Group, Inc. | 11,268 | 162,935 | ||||||
WisdomTree Investments, Inc. | 213,451 | 1,334,069 | ||||||
|
| |||||||
36,756,648 | ||||||||
Auto Parts — 1.0% | ||||||||
Adient PLC(a) | 146,954 | 6,495,367 | ||||||
American Axle & Manufacturing Holdings, Inc.(a) | 170,779 | 1,649,725 | ||||||
CarParts.com, Inc.(a) | 52,444 | 748,900 | ||||||
Dana, Inc. | 226,796 | 5,517,947 | ||||||
Dorman Products, Inc.(a) | 40,432 | 4,149,940 | ||||||
Fox Factory Holding Corp.(a) | 64,153 | 8,151,280 | ||||||
Gentherm, Inc.(a) | 49,895 | 3,697,718 | ||||||
Meritor, Inc.(a) | 105,280 | 3,097,338 | ||||||
Standard Motor Products, Inc. | 31,903 | 1,326,527 | ||||||
Stoneridge, Inc.(a) | 40,062 | 1,274,372 | ||||||
Tenneco, Inc., Class A(a) | 79,394 | 851,104 | ||||||
Visteon Corp.(a) | 43,540 | 5,309,703 | ||||||
Workhorse Group, Inc.(a)(b) | 142,583 | 1,963,368 | ||||||
XPEL Inc.(a)(b) | 25,474 | 1,322,865 | ||||||
|
| |||||||
45,556,154 | ||||||||
Auto Services — 0.2% | ||||||||
Cooper Tire & Rubber Co. | 79,719 | 4,462,669 | ||||||
Goodyear Tire & Rubber Co.(a) | 360,738 | 6,338,167 | ||||||
|
| |||||||
10,800,836 | ||||||||
Back Office Support, HR & Consulting — 1.4% |
| |||||||
ASGN, Inc.(a)(b) | 79,111 | 7,550,354 | ||||||
Barrett Business Services, Inc. | 11,581 | 797,468 | ||||||
BGSF, Inc. | 16,595 | 232,330 | ||||||
CBIZ, Inc.(a) | 77,919 | 2,544,835 | ||||||
Conduent, Inc.(a) | 251,223 | 1,673,145 | ||||||
CRA International, Inc. | 11,737 | 876,050 | ||||||
DHI Group, Inc.(a) | 70,203 | 235,180 | ||||||
ExlService Holdings, Inc.(a) | 52,205 | 4,706,803 | ||||||
Forrester Research, Inc.(a) | 17,200 | 730,656 | ||||||
GP Strategies Corp.(a) | 20,881 | 364,373 |
SERIES SCHEDULE OF INVESTMENTS | 1 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Back Office Support, HR & Consulting (continued) |
| |||||||
Hackett Group, Inc. | 38,500 | $ | 631,015 | |||||
Heidrick & Struggles International, Inc. | 29,596 | 1,057,169 | ||||||
Huron Consulting Group, Inc.(a) | 34,108 | 1,718,361 | ||||||
ICF International, Inc. | 29,053 | 2,539,232 | ||||||
Insperity, Inc. | 54,402 | 4,555,623 | ||||||
Kelly Services, Inc., Class A | 49,628 | 1,105,216 | ||||||
Kforce, Inc. | 30,227 | 1,620,167 | ||||||
Korn Ferry | 84,549 | 5,273,321 | ||||||
Liquidity Services, Inc.(a) | 40,114 | 745,318 | ||||||
Mastech Digital, Inc.(a) | 6,612 | 116,437 | ||||||
MAXIMUS, Inc. | 94,647 | 8,427,369 | ||||||
NV5 Global, Inc.(a) | 16,398 | 1,583,555 | ||||||
PAE, Inc.(a) | 88,677 | 799,867 | ||||||
PFSweb, Inc.(a) | 23,380 | 157,815 | ||||||
Resources Connection, Inc. | 47,710 | 645,993 | ||||||
ServiceSource International, Inc.(a) | 144,672 | 212,668 | ||||||
StarTek, Inc.(a) | 27,578 | 219,245 | ||||||
Sykes Enterprises, Inc.(a) | 58,148 | 2,563,164 | ||||||
Target Hospitality Corp.(a) | 49,812 | 125,028 | ||||||
TriNet Group, Inc.(a) | 62,504 | 4,872,812 | ||||||
TrueBlue, Inc.(a) | 53,309 | 1,173,864 | ||||||
TTEC Holdings, Inc. | 27,782 | 2,790,702 | ||||||
|
| |||||||
62,645,135 | ||||||||
Banks: Diversified — 8.2% | ||||||||
1st Constitution Bancorp | 15,643 | 275,473 | ||||||
1st Source Corp. | 25,200 | 1,199,016 | ||||||
ACNB Corp. | 13,727 | 402,201 | ||||||
Allegiance Bancshares, Inc. | 31,564 | 1,279,605 | ||||||
Altabancorp | 23,842 | 1,002,318 | ||||||
Ambac Financial Group, Inc.(a) | 68,315 | 1,143,593 | ||||||
Amerant Bancorp, Inc.(a) | 35,071 | 651,268 | ||||||
American National Bankshares, Inc. | 17,212 | 569,201 | ||||||
Ameris Bancorp | 102,221 | 5,367,625 | ||||||
Ames National Corp. | 15,056 | 385,132 | ||||||
Arrow Financial Corp. | 21,859 | 728,123 | ||||||
Atlantic Capital Bancshares, Inc.(a) | 35,085 | 845,548 | ||||||
Atlantic Union Bankshares Corp. | 117,383 | 4,502,812 | ||||||
Auburn National BanCorp., Inc. | 3,667 | 140,703 | ||||||
BancFirst Corp. | 27,384 | 1,935,775 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 48,028 | 726,664 | ||||||
Bancorp, Inc.(a) | 77,374 | 1,603,189 | ||||||
BancorpSouth Bank | 154,438 | 5,016,146 | ||||||
Bank First Corp. | 10,024 | 751,700 | ||||||
Bank of Commerce Holdings | 26,212 | 334,203 | ||||||
Bank of Marin Bancorp | 21,243 | 831,876 | ||||||
Bank of NT Butterfield & Son Ltd. | 76,682 | 2,930,786 | ||||||
Bank of Princeton | 9,690 | 277,328 | ||||||
Bank7 Corp. | 7,304 | 128,623 | ||||||
Bankwell Financial Group, Inc. | 9,839 | 265,161 | ||||||
Banner Corp. | 52,372 | 2,792,999 | ||||||
Bar Harbor Bankshares | 21,850 | 642,827 | ||||||
Baycom Corp.(a) | 18,197 | 327,910 | ||||||
BCB Bancorp, Inc. | 22,779 | 314,350 | ||||||
Boston Private Financial Holdings, Inc. | 123,844 | 1,649,602 | ||||||
Bridgewater Bancshares, Inc.(a) | 35,112 | 567,059 | ||||||
Bryn Mawr Bank Corp. | 30,065 | 1,368,258 | ||||||
Business First Bancshares, Inc. | 28,633 | 685,188 | ||||||
Byline Bancorp, Inc. | 37,376 | 790,502 | ||||||
C&F Financial Corp. | 5,703 | 252,586 | ||||||
Cadence BanCorp | 193,030 | 4,001,512 |
Security | Shares | Value | ||||||
Banks: Diversified (continued) | ||||||||
California Bancorp, Inc.(a) | 10,997 | $ | 195,857 | |||||
Cambridge Bancorp | 10,129 | 854,077 | ||||||
Camden National Corp. | 23,340 | 1,117,052 | ||||||
Capital Bancorp, Inc.(a)(b) | 13,728 | 264,813 | ||||||
Capital City Bank Group, Inc. | 21,636 | 562,969 | ||||||
Capitol Federal Financial, Inc. | 198,169 | 2,624,748 | ||||||
Capstar Financial Holdings, Inc. | 25,571 | 441,100 | ||||||
Carter Bankshares, Inc.(a) | 35,497 | 495,538 | ||||||
Cathay General Bancorp | 114,872 | 4,684,480 | ||||||
CB Financial Services, Inc. | 6,377 | 141,123 | ||||||
CBTX, Inc. | 23,931 | 735,160 | ||||||
Central Pacific Financial Corp. | 36,134 | 964,055 | ||||||
Central Valley Community Bancorp | 17,643 | 324,808 | ||||||
Century Bancorp, Inc., Class A | 4,500 | 419,895 | ||||||
Chemung Financial Corp. | 6,300 | 263,466 | ||||||
ChoiceOne Financial Services, Inc. | 10,991 | 264,334 | ||||||
CIT Group, Inc. | 152,944 | 7,878,145 | ||||||
Citizens & Northern Corp. | 21,059 | 500,783 | ||||||
Citizens Holding Co. | 6,395 | 127,261 | ||||||
City Holding Co. | 23,672 | 1,935,896 | ||||||
Civista Bancshares, Inc. | 26,232 | 601,762 | ||||||
CNB Financial Corp. | 23,280 | 572,921 | ||||||
Coastal Financial Corp.(a) | 13,132 | 344,321 | ||||||
Codorus Valley Bancorp, Inc. | 16,462 | 303,065 | ||||||
Colony Bankcorp, Inc. | 13,079 | 204,032 | ||||||
Columbia Banking System, Inc. | 111,572 | 4,807,637 | ||||||
Columbia Financial, Inc.(a)(b) | 71,311 | 1,246,516 | ||||||
Community Bank System, Inc. | 80,268 | 6,158,161 | ||||||
Community Bankers Trust Corp. | 31,921 | 281,543 | ||||||
Community Financial Corp. | 8,247 | 282,460 | ||||||
Community Trust Bancorp, Inc. | 22,638 | 996,751 | ||||||
ConnectOne Bancorp, Inc. | 53,694 | 1,361,143 | ||||||
County Bancorp, Inc. | 6,837 | 163,883 | ||||||
CrossFirst Bankshares, Inc.(a) | 70,864 | 977,215 | ||||||
Customers Bancorp, Inc.(a) | 33,772 | 1,074,625 | ||||||
CVB Financial Corp. | 196,554 | 4,341,878 | ||||||
Eagle Bancorp, Inc. | 47,681 | 2,537,106 | ||||||
Eastern Bankshares, Inc. | 259,833 | 5,012,179 | ||||||
Enterprise Bancorp, Inc. | 13,849 | 450,369 | ||||||
Enterprise Financial Services Corp. | 37,588 | 1,858,351 | ||||||
Equity Bancshares, Inc., Class A(a) | 20,806 | 570,084 | ||||||
Esquire Financial Holdings, Inc.(a) | 11,357 | 259,053 | ||||||
Evans Bancorp, Inc. | 8,451 | 286,404 | ||||||
Farmers & Merchants Bancorp, Inc./Archbold | 16,838 | 423,307 | ||||||
Farmers National Banc Corp. | 42,743 | 713,808 | ||||||
FB Financial Corp. | 48,159 | 2,141,149 | ||||||
Fidelity D&D Bancorp, Inc. | 6,449 | 396,613 | ||||||
Financial Institutions, Inc. | 26,478 | 802,019 | ||||||
First Bancorp, Inc. | 16,608 | 484,788 | ||||||
First BanCorp, Puerto Rico | 327,353 | 3,685,995 | ||||||
First Bancorp/Southern Pines NC | 43,112 | 1,875,372 | ||||||
First Bancshares, Inc. | 32,134 | 1,176,426 | ||||||
First Bank/Hamilton | 24,595 | 299,321 | ||||||
First Busey Corp. | 77,953 | 1,999,494 | ||||||
First Business Financial Services, Inc. | 12,615 | 311,969 | ||||||
First Choice Bancorp | 16,926 | 411,471 | ||||||
First Commonwealth Financial Corp. | 139,403 | 2,003,221 | ||||||
First Community Bancshares, Inc. | 25,204 | 755,868 | ||||||
First Community Corp. | 8,993 | 179,410 | ||||||
First Financial Bancorp | 152,738 | 3,665,712 | ||||||
First Financial Bankshares, Inc. | 199,741 | 9,333,897 | ||||||
First Financial Corp. | 20,784 | 935,488 |
2 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks: Diversified (continued) |
| |||||||
First Foundation, Inc. | 58,618 | $ | 1,375,178 | |||||
First Guaranty Bancshares, Inc. | 8,862 | 158,718 | ||||||
First Internet Bancorp | 14,564 | 513,090 | ||||||
First Interstate Bancsystem, Inc., Class A | 61,723 | 2,841,727 | ||||||
First Merchants Corp. | 80,506 | 3,743,529 | ||||||
First Mid Bancshares, Inc. | 23,111 | 1,015,266 | ||||||
First Midwest Bancorp, Inc. | 171,475 | 3,757,017 | ||||||
First Northwest Bancorp | 15,452 | 256,812 | ||||||
First of Long Island Corp. | 28,732 | 610,555 | ||||||
First Savings Financial Group, Inc. | 2,711 | 182,017 | ||||||
First United Corp. | 9,750 | 171,795 | ||||||
First Western Financial, Inc.(a) | 8,230 | 205,832 | ||||||
Flagstar Bancorp, Inc. | 74,803 | 3,373,615 | ||||||
FNCB Bancorp, Inc. | 29,402 | 221,691 | ||||||
Franklin Financial Services Corp. | 7,291 | 227,333 | ||||||
FS Bancorp, Inc. | 6,135 | 412,272 | ||||||
Fulton Financial Corp. | 247,612 | 4,216,832 | ||||||
FVCBankcorp, Inc.(a) | 18,272 | 316,471 | ||||||
German American Bancorp, Inc. | 38,518 | 1,780,302 | ||||||
Glacier Bancorp, Inc. | 148,435 | 8,472,670 | ||||||
Great Western Bancorp, Inc. | 87,506 | 2,650,557 | ||||||
Guaranty Bancshares, Inc. | 11,719 | 430,673 | ||||||
Hancock Whitney Corp. | 135,308 | 5,684,289 | ||||||
Hanmi Financial Corp. | 35,695 | 704,262 | ||||||
HarborOne Bancorp, Inc. | 79,912 | 1,076,415 | ||||||
Hawthorn Bancshares, Inc. | 10,042 | 213,794 | ||||||
HBT Financial, Inc. | 16,051 | 274,793 | ||||||
Heartland Financial USA, Inc. | 54,197 | 2,723,941 | ||||||
Heritage Commerce Corp. | 96,249 | 1,176,163 | ||||||
Home BancShares, Inc. | 231,777 | 6,269,568 | ||||||
Hope Bancorp, Inc. | 164,675 | 2,480,005 | ||||||
Horizon Bancorp | 66,840 | 1,241,887 | ||||||
Howard Bancorp, Inc.(a)(b) | 20,178 | 331,726 | ||||||
Independent Bank Corp. | 80,941 | 5,039,218 | ||||||
Independent Bank Group, Inc. | 57,278 | 4,137,763 | ||||||
International Bancshares Corp. | 80,297 | 3,727,387 | ||||||
Investar Holding Corp. | 15,819 | 325,080 | ||||||
Lakeland Bancorp, Inc. | 75,630 | 1,318,231 | ||||||
Lakeland Financial Corp. | 36,824 | 2,547,853 | ||||||
Landmark Bancorp, Inc./Manhattan KS | 4,609 | 121,770 | ||||||
LCNB Corp. | 20,442 | 357,735 | ||||||
Level One Bancorp, Inc. | 8,912 | 229,751 | ||||||
Limestone Bancorp, Inc.(a) | 7,262 | 115,103 | ||||||
Live Oak Bancshares, Inc.(b) | 43,082 | 2,950,686 | ||||||
Luther Burbank Corp. | 30,326 | 358,757 | ||||||
Macatawa Bank Corp. | 45,179 | 449,531 | ||||||
Mackinac Financial Corp. | 16,516 | 231,554 | ||||||
MainStreet Bancshares, Inc.(a) | 11,835 | 245,695 | ||||||
Mercantile Bank Corp. | 22,520 | 731,224 | ||||||
Merchants Bancorp | 13,452 | 564,177 | ||||||
Meridian Corp. | 7,428 | 193,128 | ||||||
Metrocity Bankshares, Inc. | 28,203 | 433,762 | ||||||
Metropolitan Bank Holding Corp.(a) | 10,735 | 540,615 | ||||||
Mid Penn Bancorp, Inc. | 11,675 | 313,007 | ||||||
Middlefield Banc Corp. | 8,687 | 182,080 | ||||||
Midland States Bancorp, Inc. | 32,587 | 903,963 | ||||||
MVB Financial Corp. | 14,651 | 495,204 | ||||||
National Bank Holdings Corp., Class A | 48,196 | 1,912,417 | ||||||
National Bankshares, Inc. | 10,664 | 378,679 | ||||||
NBT Bancorp, Inc. | 65,310 | 2,605,869 | ||||||
Nicolet Bankshares, Inc.(a) | 13,370 | 1,115,860 | ||||||
Northeast Bank | 11,696 | 308,657 | ||||||
Northrim BanCorp, Inc. | 9,948 | 422,889 |
Security | Shares | Value | ||||||
Banks: Diversified (continued) | ||||||||
Norwood Financial Corp. | 9,898 | $ | 263,386 | |||||
Oak Valley Bancorp | 11,873 | 203,622 | ||||||
OFG Bancorp | 75,065 | 1,697,970 | ||||||
Ohio Valley Banc Corp. | 7,057 | 171,344 | ||||||
Old National Bancorp | 254,364 | 4,919,400 | ||||||
Old Second Bancorp, Inc. | 47,962 | 633,578 | ||||||
OP Bancorp | 19,730 | 207,560 | ||||||
Origin Bancorp, Inc. | 33,731 | 1,430,532 | ||||||
Orrstown Financial Services, Inc. | 17,730 | 395,379 | ||||||
Pacific Premier Bancorp, Inc. | 121,865 | 5,293,816 | ||||||
Park National Corp. | 21,882 | 2,829,343 | ||||||
Parke Bancorp, Inc. | 17,346 | 346,747 | ||||||
PCB Bancorp | 18,656 | 279,840 | ||||||
PCSB Financial Corp. | 24,272 | 403,158 | ||||||
Peapack Gladstone Financial Corp. | 30,765 | 950,023 | ||||||
Penns Woods Bancorp, Inc. | 12,286 | 295,970 | ||||||
Peoples Bancorp of North Carolina, Inc. | 7,687 | 181,721 | ||||||
Peoples Bancorp, Inc. | 28,207 | 935,626 | ||||||
Peoples Financial Services Corp. | 10,739 | 453,615 | ||||||
Pioneer Bancorp, Inc.(a) | 20,117 | 234,363 | ||||||
Preferred Bank | 18,147 | 1,155,601 | ||||||
Premier Financial Bancorp, Inc. | 19,644 | 365,182 | ||||||
Primis Financial Corp. | 32,511 | 472,710 | ||||||
Professional Holding Corp., Class A(a)(b) | 14,295 | 262,599 | ||||||
Provident Financial Services, Inc. | 114,549 | 2,552,152 | ||||||
QCR Holdings, Inc. | 24,093 | 1,137,671 | ||||||
RBB Bancorp | 26,421 | 535,554 | ||||||
Red River Bancshares, Inc.(b) | 7,783 | 435,926 | ||||||
Reliant Bancorp, Inc. | 23,597 | 677,706 | ||||||
Renasant Corp. | 83,410 | 3,451,506 | ||||||
Republic Bancorp, Inc., Class A | 15,627 | 692,120 | ||||||
Republic First Bancorp, Inc.(a) | 77,302 | 291,429 | ||||||
S&T Bancorp, Inc. | 55,903 | 1,872,750 | ||||||
Salisbury Bancorp, Inc. | 3,726 | 165,472 | ||||||
Sandy Spring Bancorp, Inc. | 70,756 | 3,072,933 | ||||||
SB Financial Group, Inc. | 10,278 | 187,676 | ||||||
Seacoast Banking Corp. of Florida(a) | 76,349 | 2,766,888 | ||||||
Select Bancorp, Inc.(a) | 33,126 | 366,705 | ||||||
ServisFirst Bancshares, Inc. | 76,117 | 4,668,256 | ||||||
Shore Bancshares, Inc. | 19,378 | 329,814 | ||||||
Sierra Bancorp | 23,052 | 617,794 | ||||||
Silvergate Capital Corp., Class A(a) | 30,687 | 4,362,771 | ||||||
Simmons First National Corp., Class A | 164,754 | 4,888,251 | ||||||
SmartFinancial, Inc. | 21,356 | 462,357 | ||||||
South Plains Financial, Inc. | 17,062 | 387,649 | ||||||
South State Corp. | 108,402 | 8,510,641 | ||||||
Southern First Bancshares, Inc.(a) | 11,833 | 554,731 | ||||||
Southside Bancshares, Inc. | 48,411 | 1,864,308 | ||||||
Spirit of Texas Bancshares, Inc. | 21,126 | 471,321 | ||||||
Standard AVB Financial Corp. | 4,967 | 162,173 | ||||||
Stock Yards Bancorp, Inc. | 31,597 | 1,613,343 | ||||||
Summit Financial Group, Inc. | 19,115 | 507,503 | ||||||
Texas Capital Bancshares, Inc.(a) | 76,744 | 5,442,684 | ||||||
Tompkins Financial Corp. | 22,163 | 1,832,880 | ||||||
TowneBank | 100,095 | 3,042,888 | ||||||
Trico Bancshares | 39,683 | 1,879,784 | ||||||
TriState Capital Holdings, Inc.(a) | 42,768 | 986,230 | ||||||
Triumph Bancorp, Inc.(a) | 34,915 | 2,702,072 | ||||||
TrustCo Bank Corp. NY | 153,275 | 1,129,637 | ||||||
Trustmark Corp. | 95,473 | 3,213,621 | ||||||
UMB Financial Corp. | 68,075 | 6,285,365 | ||||||
United Bankshares, Inc. | 191,520 | 7,388,842 | ||||||
United Community Banks, Inc. | 118,261 | 4,035,065 |
SERIES SCHEDULE OF INVESTMENTS | 3 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks: Diversified (continued) | ||||||||
United Security Bancshares | 24,184 | $ | 198,067 | |||||
Unity Bancorp, Inc. | 11,142 | 245,124 | ||||||
Univest Financial Corp. | 40,657 | 1,162,384 | ||||||
Valley National Bancorp | 615,947 | 8,463,112 | ||||||
Veritex Holdings, Inc. | 71,024 | 2,323,905 | ||||||
Washington Trust Bancorp, Inc. | 26,664 | 1,376,662 | ||||||
WesBanco, Inc. | 98,208 | 3,541,380 | ||||||
West BanCorp., Inc. | 26,795 | 645,492 | ||||||
Westamerica BanCorp | 40,498 | 2,542,464 | ||||||
|
| |||||||
360,565,792 | ||||||||
Banks: Savings, Thrift & Mortgage Lending — 1.1% |
| |||||||
Amalgamated Financial Corp. | 20,899 | 346,714 | ||||||
Axos Financial, Inc.(a) | 89,522 | 4,208,429 | ||||||
Banc of California, Inc. | 66,911 | 1,209,751 | ||||||
BankFinancial Corp. | 23,860 | 246,235 | ||||||
BankUnited, Inc. | 139,380 | 6,125,751 | ||||||
Berkshire Hills Bancorp, Inc. | 65,941 | 1,471,803 | ||||||
Brookline Bancorp, Inc. | 112,560 | 1,688,400 | ||||||
Eagle Bancorp Montana, Inc. | 7,091 | 172,453 | ||||||
ESSA Bancorp, Inc. | 15,567 | 249,072 | ||||||
First Capital, Inc. | 5,565 | 271,071 | ||||||
Flushing Financial Corp. | 44,444 | 943,546 | ||||||
Great Southern Bancorp, Inc. | 14,826 | 840,189 | ||||||
Greene County Bancorp, Inc. | 5,855 | 146,434 | ||||||
Heritage Financial Corp. | 54,675 | 1,544,022 | ||||||
Hingham Institution for Savings | 2,201 | 624,556 | ||||||
Home Bancorp, Inc. | 12,224 | 440,675 | ||||||
Home Point Capital, Inc.(a) | 7,506 | 69,806 | ||||||
HomeStreet, Inc. | 28,659 | 1,263,002 | ||||||
Investors Bancorp, Inc. | 350,649 | 5,151,034 | ||||||
Kearny Financial Corp. | 113,470 | 1,370,718 | ||||||
Ladder Capital Corp. | 161,025 | 1,900,095 | ||||||
Meridian Bancorp, Inc. | 72,294 | 1,331,656 | ||||||
Northfield Bancorp, Inc. | 74,887 | 1,192,201 | ||||||
Northwest Bancshares, Inc. | 184,801 | 2,670,374 | ||||||
OceanFirst Financial Corp. | 88,073 | 2,108,468 | ||||||
Oconee Federal Financial Corp. | 2,178 | 56,802 | ||||||
Ponce de Leon Federal Bank(a) | 14,188 | 157,629 | ||||||
Premier Financial Corp. | 56,239 | 1,870,509 | ||||||
Provident Bancorp, Inc. | 19,347 | 278,597 | ||||||
Provident Financial Holdings, Inc. | 10,685 | 180,577 | ||||||
Prudential Bancorp, Inc. | 14,298 | 211,038 | ||||||
Richmond Mutual BanCorp., Inc. | 23,457 | 318,077 | ||||||
Riverview Bancorp, Inc. | 37,996 | 263,312 | ||||||
Southern Missouri Bancorp, Inc. | 12,070 | 475,799 | ||||||
Sterling Bancorp, Inc. | 27,375 | 154,943 | ||||||
Territorial Bancorp, Inc. | 12,118 | 320,642 | ||||||
Timberland Bancorp, Inc. | 11,142 | 309,859 | ||||||
Washington Federal, Inc. | 117,877 | 3,630,612 | ||||||
Waterstone Financial, Inc. | 33,179 | 677,515 | ||||||
Western New England Bancorp, Inc. | 35,377 | 298,228 | ||||||
WSFS Financial Corp. | 72,072 | 3,588,465 | ||||||
|
| |||||||
50,379,059 | ||||||||
Beverage: Soft Drinks — 0.2% | ||||||||
Celsius Holdings, Inc.(a) | 54,457 | 2,616,659 | ||||||
Coca-Cola Consolidated, Inc. | 7,185 | 2,074,884 | ||||||
Farmer Bros Co.(a)(b) | 27,036 | 282,256 | ||||||
National Beverage Corp.(b) | 35,891 | 1,755,429 |
Security | Shares | Value | ||||||
Beverage: Soft Drinks (continued) | ||||||||
NewAge, Inc.(a) | 146,691 | $ | 419,536 | |||||
Primo Water Corp. | 237,666 | 3,864,449 | ||||||
|
| |||||||
11,013,213 | ||||||||
Biotechnology — 9.4% | ||||||||
4D Molecular Therapeutics, Inc.(a) | 11,219 | 486,680 | ||||||
89bio, Inc.(a) | 12,295 | 291,146 | ||||||
ADMA Biologics, Inc.(a)(b) | 96,552 | 169,932 | ||||||
Aduro Biotech, Inc.(c) | 21,953 | 65,859 | ||||||
Adverum Biotechnologies, Inc.(a)(b) | 136,226 | 1,343,188 | ||||||
Aeglea BioTherapeutics, Inc.(a) | 71,346 | 565,060 | ||||||
Affimed NV(a) | 170,042 | 1,345,032 | ||||||
Agenus, Inc.(a) | 239,060 | 650,243 | ||||||
Akebia Therapeutics, Inc.(a) | 220,379 | 745,983 | ||||||
Akero Therapeutics, Inc.(a) | 20,564 | 596,562 | ||||||
Akouos, Inc.(a) | 36,026 | 499,681 | ||||||
Albireo Pharma, Inc.(a)(b) | 25,915 | 913,504 | ||||||
Alector, Inc.(a) | 69,982 | 1,409,437 | ||||||
Aligos Therapeutics, Inc.(a) | 14,859 | 337,894 | ||||||
Allakos, Inc.(a) | 39,729 | 4,560,095 | ||||||
Allogene Therapeutics, Inc.(a) | 82,085 | 2,897,600 | ||||||
Allovir, Inc.(a)(b) | 44,294 | 1,036,480 | ||||||
ALX Oncology Holdings, Inc.(a) | 26,983 | 1,989,726 | ||||||
Amicus Therapeutics, Inc.(a) | 409,444 | 4,045,307 | ||||||
AnaptysBio, Inc.(a) | 32,273 | 695,483 | ||||||
Anavex Life Sciences Corp.(a)(b) | 88,555 | 1,323,897 | ||||||
ANI Pharmaceuticals, Inc.(a) | 15,228 | 550,340 | ||||||
Annexon, Inc.(a) | 43,993 | 1,224,765 | ||||||
Apellis Pharmaceuticals, Inc.(a) | 95,577 | 4,101,209 | ||||||
Applied Genetic Technologies Corp.(a)(b) | 63,124 | 320,039 | ||||||
Applied Molecular Transport, Inc.(a) | 33,248 | 1,463,244 | ||||||
Applied Therapeutics, Inc.(a) | 22,529 | 422,531 | ||||||
Aprea Therapeutics, Inc.(a)(b) | 12,141 | 61,919 | ||||||
Aptinyx, Inc.(a) | 40,764 | 122,292 | ||||||
Aravive, Inc.(a) | 20,451 | 134,772 | ||||||
Arcturus Therapeutics Holdings, Inc.(a)(b) | 30,796 | 1,271,875 | ||||||
Arcus Biosciences, Inc.(a) | 64,491 | 1,810,907 | ||||||
Arcutis Biotherapeutics, Inc.(a) | 34,913 | 1,010,033 | ||||||
Ardelyx, Inc.(a)(b) | 116,959 | 774,269 | ||||||
Arena Pharmaceuticals, Inc.(a) | 90,974 | 6,312,686 | ||||||
Arvinas, Inc.(a) | 57,599 | 3,807,294 | ||||||
Assembly Biosciences, Inc.(a) | 51,988 | 239,145 | ||||||
Atara Biotherapeutics, Inc.(a) | 133,730 | 1,920,363 | ||||||
Athenex, Inc.(a)(b) | 111,544 | 479,639 | ||||||
Athersys, Inc.(a)(b) | 255,927 | 460,669 | ||||||
Atreca, Inc., Class A(a) | 45,165 | 692,379 | ||||||
AVEO Pharmaceuticals, Inc.(a) | 34,458 | 252,233 | ||||||
Avid Bioservices, Inc.(a) | 101,532 | 1,850,928 | ||||||
Avidity Biosciences, Inc.(a) | 45,660 | 995,845 | ||||||
Avrobio, Inc.(a)(b) | 52,376 | 664,651 | ||||||
Axcella Health, Inc.(a) | 12,271 | 58,410 | ||||||
Beam Therapeutics, Inc.(a) | 62,907 | 5,035,076 | ||||||
Bellerophon Therapeutics, Inc.(a) | 6,417 | 33,304 | ||||||
Beyondspring, Inc.(a) | 27,691 | 306,539 | ||||||
BioAtla, Inc.(a) | 20,644 | 1,049,541 | ||||||
BioCryst Pharmaceuticals, Inc.(a)(b) | 269,984 | 2,745,737 | ||||||
BioDelivery Sciences International, Inc.(a) | 139,121 | 543,963 | ||||||
Biohaven Pharmaceutical Holding Co. Ltd.(a) | 75,810 | 5,181,613 | ||||||
Bioventus, Inc., Class A(a)(b) | 9,536 | 145,710 | ||||||
Bioxcel Therapeutics, Inc.(a) | 19,754 | 852,583 | ||||||
Black Diamond Therapeutics, Inc.(a) | 27,532 | 667,926 | ||||||
Blueprint Medicines Corp.(a) | 85,961 | 8,357,988 |
4 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Bolt Biotherapeutics, Inc.(a)(b) | 18,329 | $ | 603,207 | |||||
BrainStorm Cell Therapeutics, Inc.(a) | 44,535 | 170,569 | ||||||
Bridgebio Pharma, Inc.(a)(b) | 145,743 | 8,977,769 | ||||||
C4 Therapeutics, Inc.(a) | 16,047 | 593,579 | ||||||
Cabaletta Bio Inc.(a) | 21,359 | 237,085 | ||||||
Calithera Biosciences, Inc.(a)(b) | 96,772 | 234,188 | ||||||
Calyxt, Inc.(a) | 16,435 | 98,939 | ||||||
CASI Pharmaceuticals, Inc.(a) | 100,105 | 240,252 | ||||||
Castle Biosciences, Inc.(a)(b) | 21,894 | 1,498,863 | ||||||
Catabasis Pharmaceuticals, Inc.(a) | 30,400 | 87,856 | ||||||
Catalyst Biosciences, Inc.(a) | 43,138 | 217,416 | ||||||
Catalyst Pharmaceuticals, Inc.(a) | 150,582 | 694,183 | ||||||
CEL-SCI Corp.(a)(b) | 55,169 | 839,120 | ||||||
Champions Oncology, Inc.(a) | 10,748 | 121,452 | ||||||
Checkmate Pharmaceuticals, Inc.(a) | 11,311 | 137,316 | ||||||
Checkpoint Therapeutics, Inc.(a)(b) | 78,344 | 246,000 | ||||||
ChemoCentryx, Inc.(a) | 75,616 | 3,874,564 | ||||||
Chiasma, Inc.(a)(b) | 80,034 | 250,506 | ||||||
Chinook Therapeutics, Inc.(a) | 21,953 | 341,150 | ||||||
Cidara Therapeutics, Inc.(a) | 54,478 | 144,911 | ||||||
Clovis Oncology, Inc.(a)(b) | 127,507 | 895,099 | ||||||
Codexis, Inc.(a)(b) | 86,689 | 1,984,311 | ||||||
Codiak Biosciences, Inc.(a) | 9,857 | 148,644 | ||||||
Cohbar, Inc.(a)(b) | 36,941 | 50,240 | ||||||
Coherus Biosciences, Inc.(a) | 90,006 | 1,314,988 | ||||||
Collegium Pharmaceutical, Inc.(a) | 52,060 | 1,233,822 | ||||||
Constellation Pharmaceuticals, Inc.(a) | 46,535 | 1,088,454 | ||||||
Contra GTX, Inc.(b)(c) | 944 | 1,935 | ||||||
ContraFect Corp.(a)(b) | 40,527 | 194,530 | ||||||
Corbus Pharmaceuticals Holdings, Inc.(a) | 110,272 | 217,236 | ||||||
Cortexyme, Inc.(a)(b) | 24,234 | 873,151 | ||||||
Crinetics Pharmaceuticals, Inc.(a) | 42,767 | 653,480 | ||||||
Cue Biopharma, Inc.(a) | 46,824 | 571,253 | ||||||
Cullinan Oncology, Inc.(a)(b) | 19,363 | 806,856 | ||||||
Cyclerion Therapeutics, Inc.(a) | 38,797 | 108,244 | ||||||
Cymabay Therapeutics, Inc.(a) | 104,476 | 474,321 | ||||||
Cytokinetics, Inc.(a) | 100,811 | 2,344,864 | ||||||
CytomX Therapeutics, Inc.(a) | 91,799 | 709,606 | ||||||
CytoSorbents Corp.(a) | 64,033 | 555,806 | ||||||
Decibel Therapeutics, Inc.(a) | 9,460 | 107,466 | ||||||
Deciphera Pharmaceuticals, Inc.(a)(b) | 62,795 | 2,815,728 | ||||||
Denali Therapeutics, Inc.(a)(b) | 98,585 | 5,629,203 | ||||||
Dyadic International, Inc.(a) | 32,232 | 176,954 | ||||||
Dynavax Technologies Corp.(a)(b) | 162,476 | 1,597,139 | ||||||
Dyne Therapeutics, Inc.(a) | 24,052 | 373,528 | ||||||
Editas Medicine, Inc.(a) | 105,523 | 4,431,966 | ||||||
Eiger Biopharmaceuticals, Inc.(a) | 48,670 | 430,729 | ||||||
Emergent Biosolutions, Inc.(a) | 70,386 | 6,539,563 | ||||||
Enochian Biosciences, Inc.(a)(b) | 26,154 | 92,585 | ||||||
Enzo Biochem, Inc.(a) | 72,225 | 248,454 | ||||||
Epizyme, Inc.(a) | 137,866 | 1,200,813 | ||||||
Evelo Biosciences, Inc.(a)(b) | 33,285 | 356,150 | ||||||
Evofem Biosciences, Inc.(a)(b) | 122,743 | 214,800 | ||||||
Exicure, Inc.(a) | 97,371 | 212,269 | ||||||
Fate Therapeutics, Inc.(a) | 117,877 | 9,718,959 | ||||||
Fennec Pharmaceuticals, Inc.(a) | 35,740 | 221,945 | ||||||
FibroGen, Inc.(a)(b) | 133,924 | 4,648,502 | ||||||
Five Prime Therapeutics, Inc.(a) | 53,384 | 2,010,975 | ||||||
Foghorn Therapeutics, Inc.(a) | 10,411 | 137,217 | ||||||
Forma Therapeutics Holdings, Inc.(a)(b) | 45,306 | 1,269,474 | ||||||
Fortress Biotech, Inc.(a)(b) | 95,910 | 338,562 | ||||||
Frequency Therapeutics, Inc.(a) | 38,259 | 363,461 | ||||||
Fulcrum Therapeutics, Inc.(a) | 24,460 | 288,139 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
G1 Therapeutics, Inc.(a) | 52,096 | $ | 1,253,430 | |||||
Galera Therapeutics, Inc.(a) | 14,122 | 124,556 | ||||||
Generation Bio Co.(a)(b) | 64,728 | 1,842,159 | ||||||
GenMark Diagnostics, Inc.(a) | 106,082 | 2,535,360 | ||||||
Genprex, Inc.(a) | 48,173 | 207,626 | ||||||
Geron Corp.(a)(b) | 436,582 | 689,800 | ||||||
GlycoMimetics, Inc.(a) | 55,407 | 166,775 | ||||||
Gossamer Bio, Inc.(a) | 87,352 | 808,006 | ||||||
Gritstone Oncology, Inc.(a) | 46,803 | 441,352 | ||||||
Halozyme Therapeutics, Inc.(a) | 206,264 | 8,599,146 | ||||||
Harpoon Therapeutics, Inc.(a) | 20,199 | 422,563 | ||||||
Harvard Bioscience, Inc.(a) | 61,301 | 334,703 | ||||||
Heron Therapeutics, Inc.(a) | 134,384 | 2,178,365 | ||||||
Homology Medicines, Inc.(a) | 52,977 | 498,514 | ||||||
Hookipa Pharma, Inc.(a)(b) | 22,901 | 308,018 | ||||||
iBio, Inc.(a)(b) | 316,447 | 487,328 | ||||||
Ideaya Biosciences, Inc.(a) | 26,042 | 611,987 | ||||||
IGM Biosciences, Inc.(a) | 11,313 | 867,594 | ||||||
IMARA, Inc.(a)(b) | 11,605 | 97,946 | ||||||
Immunic, Inc.(a) | 9,097 | 145,006 | ||||||
ImmunityBio, Inc.(a)(b) | 48,556 | 1,152,719 | ||||||
ImmunoGen, Inc.(a) | 290,779 | 2,355,310 | ||||||
Immunome, Inc.(a)(b) | 4,503 | 152,562 | ||||||
Immunovant, Inc.(a) | 58,435 | 937,297 | ||||||
Inhibrx, Inc.(a)(b) | 11,579 | 232,391 | ||||||
Inovio Pharmaceuticals, Inc.(a)(b) | 286,460 | 2,658,349 | ||||||
Inozyme Pharma, Inc.(a) | 17,048 | 337,550 | ||||||
Insmed, Inc.(a) | 153,904 | 5,241,970 | ||||||
Intellia Therapeutics, Inc.(a) | 85,581 | 6,868,303 | ||||||
Intercept Pharmaceuticals, Inc.(a) | 39,764 | 917,753 | ||||||
Invitae Corp.(a)(b) | 183,994 | 7,030,411 | ||||||
iTeos Therapeutics, Inc.(a) | 29,142 | 996,074 | ||||||
IVERIC bio, Inc.(a) | 121,414 | 750,339 | ||||||
Jounce Therapeutics, Inc.(a) | 29,247 | 300,367 | ||||||
Kadmon Holdings, Inc.(a) | 269,915 | 1,049,969 | ||||||
Kala Pharmaceuticals, Inc.(a)(b) | 61,146 | 412,124 | ||||||
Kaleido Biosciences, Inc.(a)(b) | 19,163 | 155,220 | ||||||
KalVista Pharmaceuticals, Inc.(a) | 28,539 | 733,167 | ||||||
Karuna Therapeutics, Inc.(a) | 24,062 | 2,892,974 | ||||||
Karyopharm Therapeutics, Inc.(a) | 109,244 | 1,149,247 | ||||||
Keros Therapeutics, Inc.(a) | 20,230 | 1,245,156 | ||||||
Kezar Life Sciences, Inc.(a) | 45,133 | 268,993 | ||||||
Kindred Biosciences, Inc.(a) | 62,160 | 308,935 | ||||||
Kiniksa Pharmaceuticals Ltd., Class A(a) | 41,111 | 760,965 | ||||||
Kinnate Biopharma, Inc.(a)(b) | 19,690 | 613,540 | ||||||
Kodiak Sciences, Inc.(a) | 51,580 | 5,848,656 | ||||||
Kronos Bio, Inc.(a)(b) | 22,149 | 648,301 | ||||||
Krystal Biotech, Inc.(a) | 25,113 | 1,934,706 | ||||||
Kura Oncology, Inc.(a) | 94,706 | 2,677,339 | ||||||
Kymera Therapeutics, Inc.(a) | 15,511 | 602,757 | ||||||
Lexicon Pharmaceuticals, Inc.(a) | 74,501 | 437,321 | ||||||
Ligand Pharmaceuticals, Inc.(a) | 21,900 | 3,338,655 | ||||||
LogicBio Therapeutics, Inc.(a)(b) | 21,456 | 156,200 | ||||||
Lyra Therapeutics, Inc.(a) | 10,669 | 123,654 | ||||||
MacroGenics, Inc.(a) | 83,630 | 2,663,615 | ||||||
Madrigal Pharmaceuticals, Inc.(a) | 13,354 | 1,562,017 | ||||||
Magenta Therapeutics, Inc.(a) | 32,370 | 383,261 | ||||||
MannKind Corp.(a)(b) | 345,877 | 1,355,838 | ||||||
Marinus Pharmaceuticals, Inc.(a)(b) | 43,205 | 668,813 | ||||||
Marker Therapeutics, Inc.(a) | 45,421 | 101,743 | ||||||
MediciNova, Inc.(a) | 69,665 | 351,808 | ||||||
MeiraGTx Holdings PLC(a) | 34,888 | 503,434 | ||||||
Mersana Therapeutics, Inc.(a)(b) | 82,481 | 1,334,543 |
SERIES SCHEDULE OF INVESTMENTS | 5 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Biotechnology (continued) | ||||||||
Minerva Neurosciences, Inc.(a) | 50,133 | $ | 146,388 | |||||
Mirati Therapeutics, Inc.(a) | 66,051 | 11,314,536 | ||||||
Mirum Pharmaceuticals, Inc.(a) | 8,546 | 169,382 | ||||||
Molecular Templates, Inc.(a) | 40,936 | 516,612 | ||||||
Morphic Holding, Inc.(a) | 21,402 | 1,354,319 | ||||||
Mustang Bio, Inc.(a)(b) | 80,525 | 267,343 | ||||||
Myriad Genetics, Inc.(a)(b) | 108,440 | 3,301,998 | ||||||
Natera, Inc.(a) | 116,716 | 11,851,343 | ||||||
Neoleukin Therapeutics, Inc.(a) | 49,979 | 615,241 | ||||||
NeuBase Therapeutics, Inc.(a) | 29,154 | 215,448 | ||||||
NeuroBo Pharmaceuticals, Inc.(a)(b) | 7,183 | 31,605 | ||||||
NexImmune, Inc.(a) | 8,158 | 155,655 | ||||||
NextCure, Inc.(a) | 24,379 | 244,034 | ||||||
NGM Biopharmaceuticals, Inc.(a) | 38,778 | 1,127,276 | ||||||
Nkarta, Inc.(a) | 30,464 | 1,002,266 | ||||||
Novavax, Inc.(a)(b) | 95,271 | 17,273,585 | ||||||
Nurix Therapeutics Inc.(a) | 41,966 | 1,304,723 | ||||||
Nymox Pharmaceutical Corp.(a)(b) | 64,230 | 142,591 | ||||||
Odonate Therapeutics, Inc.(a) | 24,451 | 83,622 | ||||||
Olema Pharmaceuticals, Inc.(a)(b) | 17,506 | 580,849 | ||||||
Omeros Corp.(a)(b) | 90,803 | 1,616,293 | ||||||
Oncocyte Corp.(a) | 110,088 | 571,357 | ||||||
Oncorus, Inc.(a) | 12,177 | 169,504 | ||||||
OPKO Health, Inc.(a)(b) | 605,169 | 2,596,175 | ||||||
Orgenesis, Inc.(a)(b) | 29,067 | 166,554 | ||||||
ORIC Pharmaceuticals, Inc.(a) | 34,132 | 836,234 | ||||||
Ovid therapeutics, Inc.(a) | 72,293 | 290,618 | ||||||
Oyster Point Pharma, Inc.(a)(b) | 9,415 | 172,106 | ||||||
Pacific Biosciences of California, Inc.(a)(b) | 282,291 | 9,403,113 | ||||||
Pandion Therapeutics, Inc.(a) | 18,950 | 1,137,947 | ||||||
Passage Bio, Inc.(a)(b) | 43,195 | 755,049 | ||||||
Personalis, Inc.(a) | 40,042 | 985,434 | ||||||
PhaseBio Pharmaceuticals, Inc.(a)(b) | 23,083 | 79,867 | ||||||
Phathom Pharmaceuticals, Inc.(a) | 17,301 | 649,826 | ||||||
Pieris Pharmaceuticals, Inc.(a) | 75,974 | 195,253 | ||||||
PMV Pharmaceuticals, Inc.(a) | 20,894 | 687,204 | ||||||
Poseida Therapeutics, Inc.(a)(b) | 48,124 | 459,584 | ||||||
Praxis Precision Medicines, Inc.(a) | 16,902 | 553,710 | ||||||
Precigen, Inc.(a)(b) | 105,128 | 724,332 | ||||||
Precision BioSciences, Inc.(a) | 71,991 | 745,107 | ||||||
Prelude Therapeutics, Inc.(a) | 14,971 | 648,693 | ||||||
Protagonist Therapeutics, Inc.(a) | 53,238 | 1,378,864 | ||||||
Protara Therapeutics, Inc.(a) | 5,857 | 92,189 | ||||||
Prothena Corp. PLC(a) | 45,740 | 1,148,989 | ||||||
Provention Bio, Inc.(a) | 80,450 | 844,323 | ||||||
PTC Therapeutics, Inc.(a)(b) | 93,568 | 4,430,445 | ||||||
Pulse Biosciences, Inc.(a)(b) | 21,148 | 500,785 | ||||||
Puma Biotechnology, Inc.(a) | 47,281 | 459,571 | ||||||
RadNet, Inc.(a) | 66,801 | 1,452,922 | ||||||
Rapt Therapeutics, Inc.(a) | 16,580 | 368,076 | ||||||
Recro Pharma, Inc.(a) | 33,317 | 92,954 | ||||||
REGENXBIO, Inc.(a) | 63,261 | 2,157,833 | ||||||
Relay Therapeutics, Inc.(a)(b) | 69,229 | 2,393,247 | ||||||
Relmada Therapeutics, Inc.(a) | 22,508 | 792,507 | ||||||
Replimune Group, Inc.(a) | 36,835 | 1,123,836 | ||||||
Revolution Medicines, Inc.(a)(b) | 66,064 | 3,031,016 | ||||||
Rhythm Pharmaceuticals, Inc.(a) | 57,566 | 1,224,429 | ||||||
Rigel Pharmaceuticals, Inc.(a) | 256,348 | 876,710 | ||||||
Rocket Pharmaceuticals, Inc.(a)(b) | 60,566 | 2,687,313 | ||||||
Rockwell Medical, Inc.(a)(b) | 110,669 | 128,376 | ||||||
Rubius Therapeutics, Inc.(a)(b) | 55,084 | 1,459,726 | ||||||
Sangamo Therapeutics, Inc.(a)(b) | 177,351 | 2,222,208 |
Security | Shares | Value | ||||||
| ||||||||
Biotechnology (continued) | ||||||||
Satsuma Pharmaceuticals, Inc.(a) | 15,447 | $ | 91,292 | |||||
Savara, Inc.(a) | 79,628 | 165,626 | ||||||
Scholar Rock Holding Corp.(a)(b) | 42,334 | 2,144,640 | ||||||
Scopus Biopharma, Inc.(a) | 6,024 | 50,903 | ||||||
Selecta Biosciences, Inc.(a) | 104,607 | 473,347 | ||||||
Sensei Biotherapeutics, Inc.(a) | 10,002 | 145,329 | ||||||
Seres Therapeutics, Inc.(a) | 85,425 | 1,758,901 | ||||||
Shattuck Labs, Inc.(a) | 19,926 | 582,636 | ||||||
Sigilon Therapeutics, Inc.(a) | 10,362 | 231,591 | ||||||
Silverback Therapeutics, Inc.(a)(b) | 22,868 | 997,731 | ||||||
Soleno Therapeutics, Inc.(a)(b) | 105,332 | 132,718 | ||||||
Solid Biosciences, Inc.(a) | 42,983 | 237,696 | ||||||
Sorrento Therapeutics, Inc.(a)(b) | 402,084 | 3,325,235 | ||||||
Spero Therapeutics, Inc.(a)(b) | 32,911 | 484,450 | ||||||
SpringWorks Therapeutics, Inc.(a) | 36,626 | 2,694,575 | ||||||
Spruce Biosciences, Inc.(a) | 9,625 | 159,775 | ||||||
SQZ Biotechnologies Co.(a)(b) | 6,158 | 84,241 | ||||||
Stoke Therapeutics, Inc.(a) | 20,351 | 790,433 | ||||||
Strongbridge Biopharma PLC(a) | 59,034 | 162,934 | ||||||
Sutro Biopharma, Inc.(a) | 48,756 | 1,109,687 | ||||||
Syros Pharmaceuticals, Inc.(a) | 70,236 | 525,365 | ||||||
Taysha Gene Therapies, Inc.(a) | 12,033 | 244,270 | ||||||
TCR2 Therapeutics, Inc.(a) | 43,536 | 961,275 | ||||||
Translate Bio, Inc.(a) | 103,874 | 1,712,882 | ||||||
Travere Therapeutics, Inc.(a) | 83,163 | 2,076,580 | ||||||
Tricida, Inc.(a)(b) | 47,941 | 253,608 | ||||||
Turning Point Therapeutics, Inc.(a) | 58,769 | 5,558,960 | ||||||
Twist Bioscience Corp.(a) | 72,722 | 9,007,347 | ||||||
Tyme Technologies, Inc.(a)(b) | 98,792 | 175,850 | ||||||
UNITY Biotechnology, Inc.(a)(b) | 55,684 | 334,104 | ||||||
UroGen Pharma Ltd.(a) | 29,912 | 582,686 | ||||||
Vanda Pharmaceuticals, Inc.(a) | 81,038 | 1,217,191 | ||||||
Vaxart, Inc.(a)(b) | 80,869 | 489,257 | ||||||
Vaxcyte, Inc.(a) | 43,317 | 855,511 | ||||||
VBI Vaccines, Inc.(a)(b) | 276,911 | 861,193 | ||||||
Veracyte, Inc.(a) | 104,018 | 5,590,967 | ||||||
Verastem, Inc.(a) | 257,792 | 636,746 | ||||||
Vericel Corp.(a)(b) | 69,289 | 3,849,004 | ||||||
Verrica Pharmaceuticals, Inc.(a)(b) | 21,272 | 322,271 | ||||||
Viking Therapeutics, Inc.(a) | 101,263 | 640,488 | ||||||
Vir Biotechnology, Inc.(a)(b) | 81,445 | 4,175,685 | ||||||
Vor BioPharma, Inc.(a) | 16,552 | 713,391 | ||||||
vTv Therapeutics Inc., Class A(a) | 15,680 | 44,218 | ||||||
VYNE Therapeutics, Inc.(a)(b) | 53,915 | 369,048 | ||||||
X4 Pharmaceuticals, Inc.(a) | 25,656 | 220,898 | ||||||
XBiotech, Inc.(a) | 21,897 | 375,971 | ||||||
Xencor, Inc.(a) | 89,184 | 3,840,263 | ||||||
Xeris Pharmaceuticals, Inc.(a)(b) | 67,887 | 306,170 | ||||||
XOMA Corp.(a)(b) | 9,810 | 400,346 | ||||||
Y-mAbs Therapeutics, Inc.(a) | 46,760 | 1,414,022 | ||||||
Zentalis Pharmaceuticals, Inc.(a) | 43,700 | 1,896,143 | ||||||
ZIOPHARM Oncology, Inc.(a)(b) | 326,456 | 1,175,242 | ||||||
|
| |||||||
416,645,919 | ||||||||
Building Materials — 1.3% | ||||||||
Alpha Pro Tech Ltd.(a)(b) | 20,653 | 201,573 | ||||||
Aspen Aerogels, Inc.(a)(b) | 31,735 | 645,490 | ||||||
Builders FirstSource, Inc.(a) | 313,720 | 14,547,196 | ||||||
Caesarstone Ltd. | 34,219 | 469,827 | ||||||
Cornerstone Building Brands, Inc.(a) | 65,004 | 912,006 | ||||||
Gibraltar Industries, Inc.(a) | 51,510 | 4,713,680 | ||||||
Griffon Corp. | 69,919 | 1,899,699 | ||||||
Louisiana-Pacific Corp. | 169,938 | 9,424,762 |
6 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Building Materials (continued) | ||||||||
LSI Industries, Inc. | 42,583 | $ | 363,233 | |||||
Masonite International Corp.(a) | 36,855 | 4,247,170 | ||||||
Patrick Industries, Inc. | 34,003 | 2,890,255 | ||||||
PGT Innovations, Inc.(a) | 87,158 | 2,200,740 | ||||||
Quanex Building Products Corp. | 55,582 | 1,457,916 | ||||||
Simpson Manufacturing Co., Inc. | 66,186 | 6,865,474 | ||||||
Summit Materials, Inc., Class A(a)(b) | 174,306 | 4,884,054 | ||||||
|
| |||||||
55,723,075 | ||||||||
Building: Climate Control — 0.2% | ||||||||
AAON, Inc. | 64,833 | 4,538,958 | ||||||
Comfort Systems USA, Inc. | 54,665 | 4,087,302 | ||||||
|
| |||||||
8,626,260 | ||||||||
Building: Roofing, Wallboard & Plumbing — 0.2% | ||||||||
Beacon Roofing Supply, Inc.(b) | 83,069 | 4,346,170 | ||||||
Forterra, Inc. | 43,495 | 1,011,259 | ||||||
JELD-WEN Holding, Inc. | 103,521 | 2,866,496 | ||||||
|
| |||||||
8,223,925 | ||||||||
Cable Television Services — 0.2% | ||||||||
AMC Networks, Inc., Class A(b) | 43,123 | 2,292,419 | ||||||
Liberty Latin America Ltd., Class A | 103,985 | 1,334,127 | ||||||
Liberty Latin America Ltd., Class C(b) | 212,722 | 2,761,132 | ||||||
WideOpenWest, Inc. | 80,336 | 1,091,766 | ||||||
|
| |||||||
7,479,444 | ||||||||
Casinos & Gambling — 1.5% | ||||||||
Accel Entertainment, Inc.(a) | 74,397 | 813,159 | ||||||
Boyd Gaming Corp.(a) | 126,255 | 7,443,995 | ||||||
Caesars Entertainment, Inc.(a) | 278,272 | 24,334,886 | ||||||
Century Casinos, Inc.(a) | 57,774 | 593,339 | ||||||
International Game Technology PLC | 151,473 | 2,431,142 | ||||||
Monarch Casino & Resort, Inc.(a) | 19,195 | 1,163,601 | ||||||
Penn National Gaming, Inc.(a)(b) | 240,852 | 25,250,924 | ||||||
Scientific Games Corp., Class A(a) | 91,287 | 3,516,375 | ||||||
|
| |||||||
65,547,421 | ||||||||
Cement — 0.1% | ||||||||
Concrete Pumping Holdings, Inc. | 40,542 | 300,416 | ||||||
US Concrete, Inc.(b) | 26,223 | 1,922,671 | ||||||
|
| |||||||
2,223,087 | ||||||||
Chemicals: Diversified — 0.6% | ||||||||
AdvanSix, Inc.(a) | 40,837 | 1,095,248 | ||||||
AgroFresh Solutions, Inc.(a) | 48,994 | 97,988 | ||||||
American Vanguard Corp. | 45,118 | 920,858 | ||||||
Avient Corp. | 142,143 | 6,719,100 | ||||||
CSW Industrials, Inc. | 21,051 | 2,841,885 | ||||||
GCP Applied Technologies, Inc.(a) | 80,213 | 1,968,427 | ||||||
Hawkins, Inc. | 29,814 | 999,365 | ||||||
Ingevity Corp.(a) | 65,029 | 4,911,640 | ||||||
Landec Corp.(a) | 42,588 | 451,433 | ||||||
Marrone Bio Innovations, Inc.(a) | 93,408 | 195,223 | ||||||
Rayonier Advanced Materials, Inc.(a) | 91,699 | 831,710 | ||||||
Sensient Technologies Corp. | 66,686 | 5,201,508 | ||||||
|
| |||||||
26,234,385 | ||||||||
Chemicals: Specialty — 0.8% | ||||||||
Advanced Emissions Solutions, Inc. | 27,259 | 149,925 | ||||||
Amyris, Inc.(a)(b) | 162,161 | 3,097,275 | ||||||
Balchem Corp. | 48,908 | 6,133,552 | ||||||
FutureFuel Corp. | 39,115 | 568,341 | ||||||
Innospec, Inc. | 38,359 | 3,939,086 | ||||||
Kraton Corp.(a) | 52,002 | 1,902,753 | ||||||
Livent Corp.(a) | 233,082 | 4,036,980 |
Security | Shares | Value | ||||||
| ||||||||
Chemicals: Specialty (continued) | ||||||||
Orion Engineered Carbons SA | 92,002 | $ | 1,814,279 | |||||
Park Aerospace Corp. | 31,735 | 419,537 | ||||||
PQ Group Holdings, Inc. | 56,981 | 951,583 | ||||||
Quaker Chemical Corp. | 20,194 | 4,922,691 | ||||||
Stepan Co. | 32,736 | 4,161,073 | ||||||
Tronox Holdings PLC, Class A | 174,544 | 3,194,155 | ||||||
|
| |||||||
35,291,230 | ||||||||
Coal — 0.1% | ||||||||
Arch Resources, Inc. | 22,776 | 947,481 | ||||||
CONSOL Energy, Inc.(a) | 43,544 | 423,248 | ||||||
Peabody Energy Corp.(a) | 96,496 | 295,278 | ||||||
Warrior Met Coal, Inc. | 76,900 | 1,317,297 | ||||||
|
| |||||||
2,983,304 | ||||||||
Commercial Banks — 0.1% | ||||||||
Dime Community Bancshares, Inc. | 53,787 | 1,621,140 | ||||||
HomeTrust Bancshares, Inc. | 24,560 | 598,036 | ||||||
|
| |||||||
2,219,176 | ||||||||
Commercial Finance & Mortgage Companies — 0.3% | ||||||||
Federal Agricultural Mortgage Corp., Class C | 13,666 | 1,376,440 | ||||||
Meta Financial Group, Inc. | 50,757 | 2,299,800 | ||||||
MMA Capital Holdings, Inc.(a) | 7,816 | 178,283 | ||||||
PennyMac Financial Services, Inc. | 65,659 | 4,390,617 | ||||||
RE/MAX Holdings, Inc., Class A | 28,201 | 1,110,837 | ||||||
Security National Financial Corp., Class A(a) | 10,244 | 95,781 | ||||||
Walker & Dunlop, Inc. | 44,593 | 4,581,485 | ||||||
|
| |||||||
14,033,243 | ||||||||
Commercial Services & Supplies — 0.0% | ||||||||
Information Services Group, Inc.(a)(b) | 60,206 | 264,907 | ||||||
National Research Corp. | 19,745 | 924,658 | ||||||
|
| |||||||
1,189,565 | ||||||||
Commercial Services: Rental & Leasing — 0.8% | ||||||||
CAI International, Inc. | 24,754 | 1,126,802 | ||||||
GATX Corp. | 52,803 | 4,896,950 | ||||||
GMS, Inc.(a) | 63,484 | 2,650,457 | ||||||
H&E Equipment Services, Inc. | 48,832 | 1,855,616 | ||||||
Herc Holdings, Inc.(a)(b) | 38,740 | 3,925,524 | ||||||
Marlin Business Services Corp. | 12,216 | 166,626 | ||||||
McGrath RentCorp. | 36,892 | 2,975,340 | ||||||
NOW, Inc.(a) | 167,068 | 1,685,716 | ||||||
Rush Enterprises, Inc., Class B | 10,246 | 461,992 | ||||||
SiteOne Landscape Supply, Inc.(a) | 67,861 | 11,586,587 | ||||||
Triton International Ltd. | 91,708 | 5,043,023 | ||||||
Willis Lease Finance Corp.(a) | 4,940 | 214,693 | ||||||
|
| |||||||
36,589,326 | ||||||||
Commercial Vehicles & Parts — 0.3% | ||||||||
Blue Bird Corp.(a) | 22,856 | 572,086 | ||||||
Cooper-Standard Holdings, Inc.(a) | 25,764 | 935,748 | ||||||
Miller Industries, Inc. | 17,235 | 796,085 | ||||||
Modine Manufacturing Co.(a) | 85,542 | 1,263,455 | ||||||
Motorcar Parts of America, Inc.(a)(b) | 27,475 | 618,187 | ||||||
Navistar International Corp.(a)(b) | 75,753 | 3,335,405 | ||||||
REV Group, Inc. | 49,848 | 955,088 | ||||||
Rush Enterprises, Inc., Class A | 66,079 | 3,292,717 | ||||||
Shyft Group, Inc. | 52,875 | 1,966,950 | ||||||
Wabash National Corp. | 81,178 | 1,526,146 | ||||||
|
| |||||||
15,261,867 | ||||||||
Communications Technology — 0.9% | ||||||||
908 Devices, Inc.(a)(b) | 10,084 | 489,074 | ||||||
ADTRAN, Inc. | 72,278 | 1,205,597 |
SERIES SCHEDULE OF INVESTMENTS | 7 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Communications Technology (continued) | ||||||||
Anterix, Inc.(a) | 16,723 | $ | 788,657 | |||||
Avaya Holdings Corp.(a)(b) | 133,289 | 3,736,091 | ||||||
Bandwidth, Inc., Class A(a) | 30,487 | 3,863,922 | ||||||
Bel Fuse, Inc., Class B | 16,293 | 324,068 | ||||||
Calix, Inc.(a) | 79,947 | 2,770,963 | ||||||
Casa Systems, Inc.(a) | 46,447 | 442,640 | ||||||
Comtech Telecommunications Corp. | 37,606 | 934,133 | ||||||
Digi International, Inc.(a) | 44,397 | 843,099 | ||||||
DZS, Inc.(a) | 20,745 | 322,585 | ||||||
Extreme Networks, Inc.(a) | 184,719 | 1,616,291 | ||||||
Genasys, Inc.(a) | 53,894 | 360,551 | ||||||
GSI Technology, Inc.(a) | 26,370 | 176,415 | ||||||
Harmonic, Inc.(a) | 143,427 | 1,124,468 | ||||||
Infinera Corp.(a) | 249,303 | 2,400,788 | ||||||
Inseego Corp.(a)(b) | 107,503 | 1,075,030 | ||||||
InterDigital, Inc. | 49,402 | 3,134,557 | ||||||
KVH Industries, Inc.(a) | 27,118 | 343,856 | ||||||
Loral Space & Communications, Inc. | 19,206 | 723,490 | ||||||
Maxar Technologies, Inc. | 107,749 | 4,075,067 | ||||||
NeoPhotonics Corp.(a)(b) | 75,663 | 904,173 | ||||||
NETGEAR, Inc.(a)(b) | 45,468 | 1,868,735 | ||||||
Ooma, Inc.(a)(b) | 33,106 | 524,730 | ||||||
PCTEL, Inc. | 29,322 | 203,788 | ||||||
Plantronics, Inc. | 52,967 | 2,060,946 | ||||||
Powerfleet, Inc.(a) | 49,839 | 409,676 | ||||||
Resonant, Inc.(a) | 83,461 | 353,874 | ||||||
Ribbon Communications, Inc.(a) | 123,523 | 1,014,124 | ||||||
Seachange International, Inc.(a) | 38,951 | 60,374 | ||||||
|
| |||||||
38,151,762 | ||||||||
Computer Services Software & Systems — 6.4% | ||||||||
A10 Networks, Inc.(a) | 89,959 | 864,506 | ||||||
ACI Worldwide, Inc.(a) | 178,385 | 6,787,549 | ||||||
Akerna Corp.(a)(b) | 28,196 | 139,288 | ||||||
Alarm.com Holdings, Inc.(a) | 74,206 | 6,409,914 | ||||||
Altair Engineering, Inc., Class A(a)(b) | 66,256 | 4,145,638 | ||||||
American Software, Inc., Class A | 45,510 | 942,057 | ||||||
Appfolio, Inc., Class A(a) | 24,774 | 3,503,291 | ||||||
Appian Corp.(a) | 55,369 | 7,361,309 | ||||||
Asure Software, Inc.(a) | 17,932 | 137,000 | ||||||
Avid Technology, Inc.(a) | 46,891 | 989,869 | ||||||
Benefitfocus, Inc.(a) | 41,692 | 575,767 | ||||||
Blackbaud, Inc. | 73,924 | 5,254,518 | ||||||
Blackline, Inc.(a)(b) | 79,062 | 8,570,321 | ||||||
Blucora, Inc.(a) | 71,424 | 1,188,495 | ||||||
Bottomline Technologies DE, Inc.(a) | 67,849 | 3,070,167 | ||||||
Box, Inc., Class A(a)(b) | 225,969 | 5,188,248 | ||||||
Brightcove, Inc.(a) | 60,050 | 1,208,206 | ||||||
Cargurus, Inc.(a) | 140,331 | 3,344,088 | ||||||
Cerence, Inc.(a) | 57,622 | 5,161,779 | ||||||
Cloudera, Inc.(a) | 325,397 | 3,960,081 | ||||||
CommVault Systems, Inc.(a) | 64,355 | 4,150,897 | ||||||
ComScore, Inc.(a) | 90,134 | 329,890 | ||||||
Cornerstone OnDemand, Inc.(a) | 97,459 | 4,247,263 | ||||||
Covetrus, Inc.(a) | 176,646 | 5,294,081 | ||||||
CSG Systems International, Inc. | 48,976 | 2,198,533 | ||||||
Digimarc Corp.(a)(b) | 17,861 | 529,757 | ||||||
Digital Turbine, Inc.(a) | 130,311 | 10,471,792 | ||||||
Domo, Inc., Class B(a) | 43,560 | 2,451,992 | ||||||
Ebix, Inc. | 40,048 | 1,282,737 | ||||||
Envestnet, Inc.(a) | 83,050 | 5,998,701 | ||||||
ePlus, Inc.(a) | 20,414 | 2,034,051 |
Security | Shares | Value | ||||||
| ||||||||
Computer Services Software & Systems (continued) | ||||||||
Eventbrite, Inc., Class A(a)(b) | 97,787 | $ | 2,166,960 | |||||
EverQuote, Inc., Class A(a)(b) | 21,133 | 766,917 | ||||||
Evolent Health, Inc., Class A(a)(b) | 114,324 | 2,309,345 | ||||||
GAN Ltd.(a) | 48,038 | 874,292 | ||||||
Grid Dynamics Holdings, Inc.(a) | 39,477 | 628,869 | ||||||
Groupon, Inc.(a) | 38,645 | 1,953,312 | ||||||
GTY Technology Holdings, Inc.(a) | 67,891 | 433,823 | ||||||
Inovalon Holdings, Inc., Class A(a) | 113,094 | 3,254,845 | ||||||
Intelligent Systems Corp.(a) | 11,424 | 467,356 | ||||||
Limelight Networks, Inc.(a) | 179,297 | 640,090 | ||||||
LivePerson, Inc.(a)(b) | 98,044 | 5,170,841 | ||||||
LiveRamp Holdings, Inc.(a) | 102,393 | 5,312,149 | ||||||
Magnite, Inc.(a)(b) | 171,822 | 7,149,513 | ||||||
ManTech International Corp., Class A | 41,267 | 3,588,166 | ||||||
MicroStrategy, Inc., Class A(a) | 11,364 | 7,713,883 | ||||||
Mimecast Ltd.(a) | 92,637 | 3,724,934 | ||||||
Mitek Systems, Inc.(a)(b) | 64,044 | 933,761 | ||||||
NetScout Systems, Inc.(a) | 112,464 | 3,166,986 | ||||||
NIC, Inc. | 104,461 | 3,544,362 | ||||||
ON24, Inc.(a) | 12,588 | 610,644 | ||||||
OneSpan, Inc.(a) | 56,990 | 1,396,255 | ||||||
PAR Technology Corp.(a)(b) | 29,196 | 1,909,710 | ||||||
Parsons Corp.(a)(b) | 37,875 | 1,531,665 | ||||||
PDF Solutions, Inc.(a) | 43,263 | 769,216 | ||||||
Perficient, Inc.(a) | 49,533 | 2,908,578 | ||||||
Perspecta, Inc. | 216,852 | 6,299,551 | ||||||
Ping Identity Holding Corp.(a) | 56,362 | 1,236,019 | ||||||
Progress Software Corp. | 67,570 | 2,977,134 | ||||||
PROS Holdings, Inc.(a)(b) | 65,631 | 2,789,317 | ||||||
Q2 Holdings, Inc.(a) | 78,306 | 7,846,261 | ||||||
QAD, Inc., Class A | 18,308 | 1,218,947 | ||||||
Rackspace Technology, Inc.(a) | 51,942 | 1,235,181 | ||||||
Rapid7, Inc.(a) | 78,587 | 5,863,376 | ||||||
Red Violet, Inc.(a) | 10,585 | 194,976 | ||||||
Rimini Street, Inc.(a) | 32,047 | 287,462 | ||||||
SailPoint Technologies Holding, Inc.(a)(b) | 137,238 | 6,949,732 | ||||||
Sapiens International Corp. NV | 42,492 | 1,350,821 | ||||||
Schrodinger, Inc./United States(a) | 45,652 | 3,482,791 | ||||||
SecureWorks Corp., Class A(a) | 13,813 | 184,818 | ||||||
ShotSpotter, Inc.(a) | 11,978 | 420,068 | ||||||
Shutterstock, Inc. | 33,201 | 2,956,217 | ||||||
Simulations Plus, Inc. | 25,641 | 1,621,537 | ||||||
Smith Micro Software, Inc.(a)(b) | 54,468 | 299,846 | ||||||
Sprout Social, Inc., Class A(a) | 42,441 | 2,451,392 | ||||||
SPS Commerce, Inc.(a) | 54,109 | 5,373,565 | ||||||
Sumo Logic, Inc.(a) | 21,350 | 402,661 | ||||||
SVMK, Inc.(a) | 187,328 | 3,431,849 | ||||||
Synchronoss Technologies, Inc.(a)(b) | 64,512 | 230,308 | ||||||
TechTarget, Inc.(a) | 38,426 | 2,668,686 | ||||||
Telos Corp.(a) | 23,968 | 908,867 | ||||||
Tenable Holdings, Inc.(a) | 107,955 | 3,906,352 | ||||||
Tucows, Inc., Class A(a)(b) | 14,386 | 1,114,915 | ||||||
Unisys Corp.(a) | 100,338 | 2,550,592 | ||||||
Upland Software, Inc.(a) | 40,808 | 1,925,729 | ||||||
Upwork, Inc.(a)(b) | 144,874 | 6,486,009 | ||||||
Varonis Systems, Inc.(a) | 157,561 | 8,089,182 | ||||||
Verint Systems, Inc.(a) | 98,510 | 4,481,220 | ||||||
Veritone, Inc.(a)(b) | 39,781 | 953,948 | ||||||
Verra Mobility Corp.(a)(b) | 203,587 | 2,755,550 | ||||||
Viant Technology, Inc., Class A(a)(b) | 18,892 | 999,198 | ||||||
VirnetX Holding Corp. | 96,165 | 535,639 | ||||||
Workiva, Inc.(a)(b) | 62,478 | 5,514,308 |
8 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Computer Services Software & Systems (continued) | ||||||||
Yelp, Inc.(a) | 113,918 | $ | 4,442,802 | |||||
Yext, Inc.(a)(b) | 170,035 | 2,462,107 | ||||||
Zix Corp.(a) | 83,627 | 631,384 | ||||||
Zuora, Inc., Class A(a) | 167,267 | 2,475,552 | ||||||
|
| |||||||
282,724,126 | ||||||||
Computer Technology — 0.6% | ||||||||
3D Systems Corp.(a)(b) | 190,144 | 5,217,551 | ||||||
Contra Technologies | 7,348 | 78,970 | ||||||
Corsair Gaming, Inc.(a)(b) | 34,116 | 1,135,722 | ||||||
Diebold Nixdorf, Inc.(a) | 118,421 | 1,673,289 | ||||||
Immersion Corp.(a)(b) | 25,169 | 241,119 | ||||||
Impinj, Inc.(a) | 26,182 | 1,488,970 | ||||||
Insight Enterprises, Inc.(a) | 52,861 | 5,043,996 | ||||||
Intellicheck, Inc.(a) | 26,907 | 225,481 | ||||||
PC Connection, Inc. | 16,720 | 775,641 | ||||||
Quantum Corp.(a) | 60,193 | 501,408 | ||||||
Safeguard Scientifics, Inc.(a) | 34,367 | 234,383 | ||||||
Super Micro Computer, Inc.(a) | 65,531 | 2,559,641 | ||||||
Synaptics, Inc.(a)(b) | 54,296 | 7,352,764 | ||||||
|
| |||||||
26,528,935 | ||||||||
Construction — 0.5% | ||||||||
Aegion Corp.(a) | 44,738 | 1,286,217 | ||||||
Construction Partners, Inc., Class A(a) | 47,651 | 1,423,812 | ||||||
EMCOR Group, Inc. | 84,124 | 9,435,348 | ||||||
Granite Construction, Inc. | 71,425 | 2,874,856 | ||||||
Great Lakes Dredge & Dock Corp.(a) | 96,393 | 1,405,410 | ||||||
Primoris Services Corp. | 73,428 | 2,432,670 | ||||||
Sterling Construction Co., Inc.(a) | 41,720 | 967,904 | ||||||
Tutor Perini Corp.(a) | 62,081 | 1,176,435 | ||||||
|
| |||||||
21,002,652 | ||||||||
Consumer Electronics — 0.2% | ||||||||
Sonos, Inc. | 182,169 | 6,825,873 | ||||||
Universal Electronics, Inc. | 20,123 | 1,106,161 | ||||||
VOXX International Corp. | 30,284 | 577,213 | ||||||
|
| |||||||
8,509,247 | ||||||||
Consumer Lending — 0.6% | ||||||||
Curo Group Holdings Corp. | 27,408 | 399,883 | ||||||
Encore Capital Group, Inc.(a)(b) | 47,709 | 1,919,333 | ||||||
Enova International, Inc.(a) | 52,829 | 1,874,373 | ||||||
Ezcorp, Inc., Class A(a) | 71,050 | 353,119 | ||||||
FirstCash, Inc. | 61,918 | 4,066,155 | ||||||
Marcus & Millichap, Inc.(a) | 35,893 | 1,209,594 | ||||||
MoneyGram International, Inc.(a) | 92,189 | 605,682 | ||||||
Navient Corp. | 291,734 | 4,174,714 | ||||||
Nelnet, Inc., Class A | 26,260 | 1,910,152 | ||||||
Oportun Financial Corp.(a) | 30,188 | 625,193 | ||||||
PRA Group, Inc.(a) | 68,675 | 2,545,782 | ||||||
PROG Holdings, Inc. | 106,098 | 4,592,982 | ||||||
Regional Management Corp. | 12,891 | 446,802 | ||||||
World Acceptance Corp.(a) | 7,730 | 1,003,045 | ||||||
|
| |||||||
25,726,809 | ||||||||
Consumer Services: Miscellaneous — 0.3% | ||||||||
Cars.com, Inc.(a) | 103,348 | 1,339,390 | ||||||
Chuy’s Holdings, Inc.(a) | 30,052 | 1,331,905 | ||||||
Core-Mark Holding Co., Inc. | 71,958 | 2,784,055 | ||||||
Franchise Group, Inc. | 33,339 | 1,203,871 | ||||||
KAR Auction Services, Inc. | 206,900 | 3,103,500 |
Security | Shares | Value | ||||||
| ||||||||
Consumer Services: Miscellaneous (continued) | ||||||||
Waitr Holdings, Inc.(a)(b) | 129,079 | $ | 378,202 | |||||
WW International, Inc.(a)(b) | 76,983 | 2,408,028 | ||||||
|
| |||||||
12,548,951 | ||||||||
Containers & Packaging — 0.2% | ||||||||
Greif, Inc., Class A | 38,300 | 2,183,100 | ||||||
Greif, Inc., Class B | 10,120 | 579,269 | ||||||
Myers Industries, Inc. | 53,820 | 1,063,483 | ||||||
O-I Glass, Inc. | 248,824 | 3,667,666 | ||||||
Pactiv Evergreen, Inc. | 60,715 | 834,224 | ||||||
Ranpak Holdings Corp.(a) | 44,265 | 887,956 | ||||||
UFP Technologies, Inc.(a) | 11,366 | 566,254 | ||||||
Veritiv Corp.(a) | 21,591 | 918,481 | ||||||
|
| |||||||
10,700,433 | ||||||||
Cosmetics — 0.1% | ||||||||
elf Beauty, Inc.(a) | 69,379 | 1,861,439 | ||||||
Inter Parfums, Inc. | 27,159 | 1,926,388 | ||||||
Revlon, Inc., Class A(a)(b) | 11,949 | 147,331 | ||||||
|
| |||||||
3,935,158 | ||||||||
Diversified Financial Services — 0.8% | ||||||||
Alerus Financial Corp. | 21,917 | 652,688 | ||||||
Altisource Portfolio Solutions SA(a) | 8,939 | 82,149 | ||||||
Associated Capital Group, Inc., Class A | 3,113 | 111,632 | ||||||
Bogota Financial Corp.(a)(b) | 9,443 | 96,885 | ||||||
Cannae Holdings, Inc.(a) | 135,071 | 5,351,513 | ||||||
Greenhill & Co., Inc. | 22,224 | 366,252 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 111,518 | 6,256,160 | ||||||
Houlihan Lokey, Inc. | 78,644 | 5,230,613 | ||||||
MBIA, Inc.(a)(b) | 76,509 | 736,017 | ||||||
MidWestOne Financial Group, Inc. | 23,793 | 736,869 | ||||||
Moelis & Co., Class A | 80,472 | 4,416,303 | ||||||
Piper Sandler Cos | 26,580 | 2,914,497 | ||||||
Stifel Financial Corp. | 154,718 | 9,911,235 | ||||||
SWK Holdings Corp.(a) | 4,868 | 70,781 | ||||||
Tiptree, Inc. | 37,480 | 335,446 | ||||||
|
| |||||||
37,269,040 | ||||||||
Diversified Manufacturing Operations — 0.5% | ||||||||
Barnes Group, Inc. | 71,675 | 3,550,779 | ||||||
Custom Truck One Source, Inc. | 20,536 | 192,012 | ||||||
Enerpac Tool Group Corp. | 96,582 | 2,522,722 | ||||||
Federal Signal Corp. | 91,305 | 3,496,981 | ||||||
Harsco Corp.(a) | 118,346 | 2,029,634 | ||||||
Luxfer Holdings PLC | 41,578 | 884,780 | ||||||
Lydall, Inc.(a) | 25,519 | 861,011 | ||||||
OSI Systems, Inc.(a) | 26,193 | 2,517,147 | ||||||
Raven Industries, Inc. | 58,375 | 2,237,514 | ||||||
Standex International Corp. | 18,771 | 1,793,944 | ||||||
TriMas Corp.(a) | 66,474 | 2,015,492 | ||||||
|
| |||||||
22,102,016 | ||||||||
Diversified Materials & Processing — 0.2% | ||||||||
Belden, Inc.(b) | 66,167 | 2,935,830 | ||||||
Encore Wire Corp. | 29,624 | 1,988,659 | ||||||
Insteel Industries, Inc. | 28,902 | 891,338 | ||||||
Koppers Holdings, Inc.(a) | 31,212 | 1,084,929 | ||||||
NL Industries, Inc. | 9,941 | 74,060 | ||||||
Tredegar Corp. | 40,253 | 604,198 | ||||||
Uranium Energy Corp.(a) | 297,236 | 850,095 | ||||||
|
| |||||||
8,429,109 |
SERIES SCHEDULE OF INVESTMENTS | 9 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
| ||||||||
Diversified Media — 0.0% | ||||||||
EW Scripps Co., Class A | 85,234 | $ | 1,642,459 | |||||
Hemisphere Media Group, Inc.(a) | 26,455 | 308,201 | ||||||
|
| |||||||
1,950,660 | ||||||||
Diversified Retail — 0.8% | ||||||||
Big Lots, Inc. | 56,339 | 3,847,954 | ||||||
BJ’s Wholesale Club Holdings, Inc.(a) | 211,683 | 9,496,099 | ||||||
Dillard’s, Inc., Class A | 12,409 | 1,198,337 | ||||||
Duluth Holdings, Inc., Class B(a) | 16,032 | 271,582 | ||||||
Gaia, Inc.(a)(b) | 17,469 | 207,706 | ||||||
Macy’s, Inc. | 481,645 | 7,797,833 | ||||||
Overstock.com, Inc.(a) | 67,482 | 4,471,357 | ||||||
PriceSmart, Inc. | 36,353 | 3,517,153 | ||||||
Stitch Fix, Inc., Class A(a) | 89,696 | 4,443,540 | ||||||
Winmark Corp. | 4,549 | 848,070 | ||||||
|
| |||||||
36,099,631 | ||||||||
Drug & Grocery Store Chains — 0.1% | ||||||||
Ingles Markets, Inc., Class A. | 23,802 | 1,467,393 | ||||||
PetMed Express, Inc. | 34,384 | 1,209,457 | ||||||
Rite Aid Corp.(a)(b) | 82,530 | 1,688,564 | ||||||
Village Super Market, Inc., Class A | 13,818 | 325,690 | ||||||
Weis Markets, Inc. | 14,665 | 828,866 | ||||||
|
| |||||||
5,519,970 | ||||||||
Education Services — 0.4% | ||||||||
Adtalem Global Education, Inc.(a)(b) | 76,367 | 3,019,551 | ||||||
American Public Education, Inc.(a) | 22,056 | 785,855 | ||||||
Aspen Group, Inc.(a) | 30,140 | 180,840 | ||||||
Franklin Covey Co.(a) | 19,637 | 555,531 | ||||||
HealthStream, Inc.(a) | 44,898 | 1,003,021 | ||||||
Houghton Mifflin Harcourt Co.(a) | 161,597 | 1,231,369 | ||||||
Laureate Education, Inc., Class A(a) | 163,150 | 2,217,208 | ||||||
Perdoceo Education Corp.(a) | 102,132 | 1,221,499 | ||||||
Strategic Education, Inc. | 38,546 | 3,542,763 | ||||||
Stride, Inc.(a)(b) | 61,371 | 1,847,881 | ||||||
Universal Technical Institute, Inc.(a) | 47,984 | 280,227 | ||||||
|
| |||||||
15,885,745 | ||||||||
Electronic Components — 0.5% | ||||||||
Acacia Research Corp.(a) | 73,479 | 488,635 | ||||||
American Superconductor Corp.(a) | 40,149 | 761,225 | ||||||
Methode Electronics, Inc. | 59,022 | 2,477,744 | ||||||
Novanta, Inc.(a) | 52,136 | 6,876,217 | ||||||
NVE Corp. | 7,682 | 538,508 | ||||||
Rogers Corp.(a) | 28,322 | 5,330,484 | ||||||
Sanmina Corp.(a) | 97,247 | 4,024,081 | ||||||
ScanSource, Inc.(a) | 38,392 | 1,149,840 | ||||||
TTM Technologies, Inc.(a) | 161,307 | 2,338,952 | ||||||
|
| |||||||
23,985,686 | ||||||||
Electronic Entertainment — 0.1% | ||||||||
Glu Mobile, Inc. | 225,363 | 2,812,530 | ||||||
PlayAGS, Inc. | 39,489 | 319,071 | ||||||
Turtle Beach Corp.(b) | 21,310 | 568,338 | ||||||
|
| |||||||
3,699,939 | ||||||||
Electronics — 0.6% | ||||||||
Agilysys, Inc.(a) | 29,082 | 1,394,773 | ||||||
Daktronics, Inc. | 60,802 | 381,229 | ||||||
II-VI, Inc.(a)(b) | 158,491 | 10,836,030 | ||||||
Integer Holdings Corp.(a) | 49,753 | 4,582,251 | ||||||
iRobot Corp.(a) | 43,225 | 5,281,231 |
Security | Shares | Value | ||||||
Electronics (continued) | ||||||||
Iteris, Inc.(a) | 65,743 | $ | 405,634 | |||||
nLight, Inc.(a) | 53,783 | 1,742,569 | ||||||
Research Frontiers, Inc.(a) | 43,416 | 123,301 | ||||||
|
| |||||||
24,747,018 | ||||||||
Energy Equipment — 1.0% | ||||||||
API Group Corp.(a)(d) | 221,701 | 4,584,777 | ||||||
Arcosa, Inc. | 73,666 | 4,794,920 | ||||||
Bloom Energy Corp., Class A(a) | 134,596 | 3,640,822 | ||||||
FuelCell Energy, Inc.(a) | 490,506 | 7,068,191 | ||||||
Matador Resources Co.(b) | 174,250 | 4,086,163 | ||||||
SunPower Corp.(a)(b) | 116,016 | 3,880,735 | ||||||
Sunrun, Inc.(a)(b) | 245,557 | 14,851,287 | ||||||
TPI Composites, Inc.(a) | 49,886 | 2,815,067 | ||||||
|
| |||||||
45,721,962 | ||||||||
Engineering & Contracting Services — 1.2% | ||||||||
Argan, Inc. | 22,506 | 1,200,695 | ||||||
Dycom Industries, Inc.(a) | 48,557 | 4,508,517 | ||||||
Exponent, Inc. | 79,757 | 7,772,320 | ||||||
Fluor Corp. | 221,437 | 5,112,980 | ||||||
HC2 Holdings, Inc.(a)(b) | 77,220 | 304,247 | ||||||
IES Holdings, Inc.(a) | 12,597 | 635,015 | ||||||
KBR, Inc. | 219,762 | 8,436,663 | ||||||
MasTec, Inc.(a) | 88,010 | 8,246,537 | ||||||
Mistras Group, Inc.(a) | 27,467 | 313,398 | ||||||
MYR Group, Inc.(a) | 25,004 | 1,792,037 | ||||||
NETSTREIT Corp. | 40,413 | 747,236 | ||||||
Tetra Tech, Inc. | 83,146 | 11,284,575 | ||||||
VSE Corp. | 19,053 | 752,594 | ||||||
Willdan Group, Inc.(a)(b) | 15,414 | 632,745 | ||||||
|
| |||||||
51,739,559 | ||||||||
Entertainment — 0.3% | ||||||||
AMC Entertainment Holdings, Inc., Class A(b) | 591,452 | 6,038,725 | ||||||
Cinemark Holdings, Inc. | 170,976 | 3,489,620 | ||||||
Golden Entertainment, Inc.(a) | 25,903 | 654,310 | ||||||
IMAX Corp.(a) | 75,894 | 1,525,469 | ||||||
LiveXLive Media, Inc.(a) | 71,532 | 310,449 | ||||||
|
| |||||||
12,018,573 | ||||||||
Environmental, Maintenance, & Security Service — 0.6% | ||||||||
ABM Industries, Inc. | 102,001 | 5,203,071 | ||||||
BrightView Holdings, Inc.(a) | 60,499 | 1,020,618 | ||||||
Brink’s Co. | 74,735 | 5,921,254 | ||||||
Healthcare Services Group, Inc. | 113,551 | 3,182,835 | ||||||
IBEX Ltd.(a) | 10,191 | 224,202 | ||||||
Montrose Environmental Group Inc.(a) | 31,883 | 1,600,208 | ||||||
SP Plus Corp.(a) | 34,800 | 1,141,092 | ||||||
UniFirst Corp. | 23,658 | 5,292,531 | ||||||
Vivint Smart Home, Inc.(a) | 120,762 | 1,729,312 | ||||||
|
| |||||||
25,315,123 | ||||||||
Financial Data & Systems — 0.5% | ||||||||
Atlanticus Holdings Corp.(a) | 7,396 | 224,321 | ||||||
Cardtronics PLC, Class A(a) | 54,113 | 2,099,584 | ||||||
Cass Information Systems, Inc. | 22,211 | 1,027,703 | ||||||
Donnelley Financial Solutions, Inc.(a) | 44,696 | 1,243,890 | ||||||
Everi Holdings, Inc.(a) | 135,285 | 1,908,871 | ||||||
EVERTEC, Inc. | 94,926 | 3,533,146 | ||||||
Evo Payments, Inc., Class A(a) | 68,630 | 1,888,697 | ||||||
Green Dot Corp., Class A(a) | 80,675 | 3,694,108 | ||||||
GreenSky, Inc., Class A(a) | 96,967 | 600,226 |
10 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Financial Data & Systems (continued) | ||||||||
I3 Verticals, Inc., Class A(a) | 28,720 | $ | 893,910 | |||||
International Money Express, Inc.(a) | 43,459 | 652,319 | ||||||
LendingClub Corp.(a) | 106,790 | 1,764,171 | ||||||
Paysign, Inc.(a) | 50,221 | 219,466 | ||||||
Priority Technology Holdings, Inc.(a) | 9,786 | 67,915 | ||||||
Repay Holdings Corp.(a) | 107,963 | 2,534,971 | ||||||
Value Line, Inc. | 1,578 | 44,484 | ||||||
|
| |||||||
22,397,782 | ||||||||
Food & Staples Retailing — 0.0% | ||||||||
Natural Grocers by Vitamin Cottage, Inc. | 14,822 | 260,126 | ||||||
|
| |||||||
Foods — 1.2% | ||||||||
B&G Foods, Inc. | 96,234 | 2,989,028 | ||||||
BellRing Brands, Inc., Class A(a) | 60,091 | 1,418,748 | ||||||
Bridgford Foods Corp.(a) | 2,585 | 40,067 | ||||||
Chefs’ Warehouse, Inc.(a) | 45,634 | 1,390,012 | ||||||
Freshpet, Inc.(a) | 63,142 | 10,027,581 | ||||||
HF Foods Group, Inc.(a) | 54,160 | 391,035 | ||||||
Hostess Brands, Inc.(a) | 199,564 | 2,861,748 | ||||||
J&J Snack Foods Corp. | 22,575 | 3,544,952 | ||||||
John B Sanfilippo & Son, Inc. | 12,516 | 1,131,071 | ||||||
Laird Superfood, Inc.(a) | 3,931 | 147,295 | ||||||
Lancaster Colony Corp. | 29,715 | 5,210,822 | ||||||
Medifast, Inc. | 17,148 | 3,632,289 | ||||||
Mission Produce, Inc.(a) | 10,655 | 202,552 | ||||||
Nature’s Sunshine Products, Inc. | 13,928 | 278,003 | ||||||
Performance Food Group Co.(a) | 202,031 | 11,639,006 | ||||||
Seneca Foods Corp., Class A(a) | 10,032 | 472,407 | ||||||
Simply Good Foods Co.(a) | 129,611 | 3,942,767 | ||||||
SpartanNash Co. | 55,087 | 1,081,358 | ||||||
Tootsie Roll Industries, Inc. | 24,060 | 797,096 | ||||||
United Natural Foods, Inc.(a) | 90,169 | 2,970,167 | ||||||
Vital Farms, Inc.(a) | 35,380 | 772,699 | ||||||
|
| |||||||
54,940,703 | ||||||||
Forest Products — 0.2% | ||||||||
Boise Cascade Co. | 62,310 | 3,728,007 | ||||||
UFP Industries, Inc. | 90,870 | 6,891,581 | ||||||
10,619,588 | ||||||||
|
| |||||||
Forms & Bulk Printing Services — 0.1% | ||||||||
Deluxe Corp. | 63,375 | 2,659,215 | ||||||
Ennis, Inc. | 39,632 | 846,143 | ||||||
Quad/Graphics, Inc. | 55,672 | 196,522 | ||||||
|
| |||||||
3,701,880 | ||||||||
Fruit & Grain Processing — 0.0% | ||||||||
MGP Ingredients, Inc. | 19,438 | 1,149,758 | ||||||
|
| |||||||
Funeral Parlors & Cemeteries — 0.2% | ||||||||
Carriage Services, Inc. | 25,121 | 884,008 | ||||||
Hillenbrand, Inc. | 112,874 | 5,385,219 | ||||||
Matthews International Corp., Class A | 46,359 | 1,833,498 | ||||||
|
| |||||||
8,102,725 | ||||||||
Gas Pipeline — 0.0% | ||||||||
NextDecade Corp.(a)(b) | 43,406 | 115,894 | ||||||
|
| |||||||
Glass — 0.0% | ||||||||
Apogee Enterprises, Inc. | 38,941 | 1,591,908 | ||||||
|
| |||||||
Gold — 0.2% | ||||||||
Caledonia Mining Corp. PLC | 17,098 | 244,330 |
Security | Shares | Value | ||||||
Gold (continued) | ||||||||
Coeur Mining, Inc.(a) | 366,085 | $ | 3,305,748 | |||||
Gold Resource Corp. | 93,686 | 247,331 | ||||||
Novagold Resources, Inc.(a) | 360,712 | 3,159,837 | ||||||
|
| |||||||
6,957,246 | ||||||||
Health Care Equipment & Supplies — 0.0% | ||||||||
Inogen, Inc.(a) | 27,910 | 1,465,833 | ||||||
|
| |||||||
Health Care Facilities — 0.7% | ||||||||
Apollo Medical Holdings, Inc.(a) | 29,899 | 809,964 | ||||||
Brookdale Senior Living, Inc.(a)(b) | 280,529 | 1,697,200 | ||||||
Ensign Group, Inc.(b) | 80,407 | 7,545,393 | ||||||
Five Star Senior Living, Inc.(a) | 30,045 | 183,875 | ||||||
Hanger, Inc.(a) | 57,173 | 1,304,688 | ||||||
Joint Corp.(a) | 20,324 | 983,072 | ||||||
National HealthCare Corp. | 18,914 | 1,473,590 | ||||||
Ontrak, Inc.(a) | 12,797 | 416,670 | ||||||
Pliant Therapeutics, Inc.(a) | 38,444 | 1,512,003 | ||||||
Select Medical Holdings Corp.(a) | 165,043 | 5,627,966 | ||||||
Tenet Healthcare Corp.(a) | 161,859 | 8,416,668 | ||||||
U.S. Physical Therapy, Inc. | 19,451 | 2,024,849 | ||||||
|
| |||||||
31,995,938 | ||||||||
Health Care Management Services — 0.3% | ||||||||
1Life Healthcare, Inc.(a) | 123,905 | 4,842,208 | ||||||
Computer Programs & Systems, Inc. | 20,882 | 638,989 | ||||||
Magellan Health, Inc.(a) | 36,074 | 3,363,540 | ||||||
Option Care Health, Inc.(a) | 138,500 | 2,456,990 | ||||||
Progyny, Inc.(a) | 40,159 | 1,787,477 | ||||||
Triple-S Management Corp., Class B(a) | 33,003 | 859,068 | ||||||
|
| |||||||
13,948,272 | ||||||||
Health Care Services — 2.2% |
| |||||||
Accelerate Diagnostics, Inc.(a)(b) | 52,110 | 433,555 | ||||||
Accolade, Inc.(a)(b) | 52,007 | 2,359,558 | ||||||
Addus HomeCare Corp.(a) | 24,018 | 2,512,043 | ||||||
Allscripts Healthcare Solutions, Inc.(a) | 238,624 | 3,582,939 | ||||||
AMN Healthcare Services, Inc.(a) | 73,177 | 5,393,145 | ||||||
Biodesix, Inc.(a)(b) | 5,492 | 111,543 | ||||||
Cara Therapeutics, Inc.(a)(b) | 63,494 | 1,378,455 | ||||||
CorVel Corp.(a) | 13,403 | 1,375,014 | ||||||
Cross Country Healthcare, Inc.(a) | 55,174 | 689,123 | ||||||
Flexion Therapeutics, Inc.(a) | 66,694 | 596,911 | ||||||
Health Catalyst, Inc.(a)(b) | 51,608 | 2,413,706 | ||||||
HealthEquity, Inc.(a) | 124,436 | 8,461,648 | ||||||
HMS Holdings Corp.(a) | 133,187 | 4,924,589 | ||||||
Inari Medical, Inc.(a) | 26,637 | 2,850,159 | ||||||
LHC Group, Inc.(a) | 47,021 | 8,990,885 | ||||||
Lucira Health, Inc.(a) | 13,943 | 168,710 | ||||||
MEDNAX, Inc.(a)(b) | 119,306 | 3,038,724 | ||||||
ModivCare, Inc.(a) | 18,432 | 2,730,148 | ||||||
NantHealth, Inc.(a)(b) | 45,434 | 145,843 | ||||||
NeoGenomics, Inc.(a)(b) | 168,295 | 8,116,868 | ||||||
NextGen Healthcare, Inc.(a) | 93,417 | 1,690,848 | ||||||
Omnicell, Inc.(a)(b) | 65,886 | 8,556,615 | ||||||
OptimizeRx Corp.(a)(b) | 24,536 | 1,196,130 | ||||||
Ortho Clinical Diagnostics Holdings PLC(a) | 133,169 | 2,569,496 | ||||||
Pennant Group, Inc.(a) | 38,847 | 1,779,193 | ||||||
Phibro Animal Health Corp., Class A | 31,916 | 778,750 | ||||||
Phreesia, Inc.(a) | 50,932 | 2,653,557 | ||||||
Progenity, Inc.(a)(b) | 21,444 | 102,073 | ||||||
R1 RCM, Inc.(a) | 164,849 | 4,068,473 |
SERIES SCHEDULE OF INVESTMENTS | 11 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Services (continued) | ||||||||
Ryman Hospitality Properties, Inc. | 78,820 | $ | 6,109,338 | |||||
Surgery Partners, Inc.(a) | 38,978 | 1,725,166 | ||||||
Tabula Rasa HealthCare, Inc.(a)(b) | 35,951 | 1,655,544 | ||||||
Talis Biomedical Corp.(a) | 18,330 | 235,541 | ||||||
Tivity Health, Inc.(a) | 66,397 | 1,481,981 | ||||||
Viemed Healthcare, Inc.(a)(b) | 53,389 | 540,297 | ||||||
|
| |||||||
95,416,568 | ||||||||
Health Care: Miscellaneous — 0.2% | ||||||||
Medpace Holdings, Inc.(a) | 43,041 | 7,060,876 | ||||||
|
| |||||||
Home Building — 1.2% | ||||||||
Beazer Homes USA, Inc.(a) | 43,548 | 911,024 | ||||||
Century Communities, Inc.(a) | 47,294 | 2,852,774 | ||||||
Installed Building Products, Inc. | 34,710 | 3,848,645 | ||||||
KB Home | 138,608 | 6,449,430 | ||||||
Legacy Housing Corp.(a) | 14,089 | 249,798 | ||||||
LGI Homes, Inc.(a) | 33,754 | 5,039,810 | ||||||
M/I Homes, Inc.(a) | 44,516 | 2,629,560 | ||||||
MDC Holdings, Inc. | 85,340 | 5,069,196 | ||||||
Meritage Homes Corp.(a) | 58,401 | 5,368,220 | ||||||
Taylor Morrison Home Corp.(a) | 192,045 | 5,916,906 | ||||||
TopBuild Corp.(a)(b) | 51,064 | 10,694,334 | ||||||
Tri Pointe Homes, Inc.(a) | 200,003 | 4,072,061 | ||||||
|
| |||||||
53,101,758 | ||||||||
Hotel/Motel — 0.1% | ||||||||
Bally’s Corp. | 27,469 | 1,784,936 | ||||||
Marcus Corp. | 34,260 | 684,857 | ||||||
NEOGAMES SA(a)(b) | 7,827 | 279,972 | ||||||
Red Rock Resorts, Inc., Class A | 99,998 | 3,258,935 | ||||||
|
| |||||||
6,008,700 | ||||||||
Household Appliances — 0.0% | ||||||||
Hamilton Beach Brands Holding Co., Class A | 10,779 | 195,423 | ||||||
National Presto Industries, Inc. | 7,716 | 787,572 | ||||||
|
| |||||||
982,995 | ||||||||
Household Equipment & Products — 0.3% | ||||||||
Central Garden & Pet Co.(b) | 16,903 | 980,543 | ||||||
Central Garden & Pet Co., Class A | 58,134 | 3,016,573 | ||||||
Helen of Troy Ltd.(b) | 37,925 | 7,989,281 | ||||||
Tupperware Brands Corp. | 73,959 | 1,953,257 | ||||||
|
| |||||||
13,939,654 | ||||||||
Household Furnishings — 0.7% | ||||||||
American Woodmark Corp.(a) | 27,196 | 2,680,982 | ||||||
Casper Sleep, Inc.(a) | 39,570 | 286,487 | ||||||
Ethan Allen Interiors, Inc. | 39,715 | 1,096,531 | ||||||
Hooker Furniture Corp. | 18,337 | 668,567 | ||||||
La-Z-Boy, Inc. | 67,768 | 2,878,785 | ||||||
Lifetime Brands, Inc. | 19,521 | 286,763 | ||||||
Lovesac Co.(a) | 15,331 | 867,734 | ||||||
Purple Innovation, Inc.(a) | 48,720 | 1,541,988 | ||||||
RH(a) | 24,328 | 14,514,085 | ||||||
Sleep Number Corp.(a) | 42,277 | 6,066,327 | ||||||
|
| |||||||
30,888,249 | ||||||||
Insurance: Life — 0.5% | ||||||||
American Equity Investment Life Holding Co. | 143,012 | 4,509,168 | ||||||
Citizens, Inc.(a)(b) | 76,911 | 445,315 | ||||||
CNO Financial Group, Inc. | 206,584 | 5,017,925 | ||||||
FBL Financial Group, Inc., Class A | 14,268 | 797,867 | ||||||
GWG Holdings, Inc.(a) | 4,648 | 32,490 | ||||||
Independence Holding Co. | 8,767 | 349,365 |
Security | Shares | Value | ||||||
Insurance: Life (continued) | ||||||||
Midwest Holding, Inc.(a) | 1,050 | $ | 52,489 | |||||
National Western Life Group, Inc., Class A | 3,550 | 883,950 | ||||||
Selectquote, Inc.(a) | 203,308 | 5,999,619 | ||||||
Trean Insurance Group, Inc.(a)(b) | 16,363 | 264,262 | ||||||
Trupanion, Inc.(a) | 45,851 | 3,494,305 | ||||||
|
| |||||||
21,846,755 | ||||||||
Insurance: Multi-Line — 0.4% | ||||||||
BRP Group, Inc., Class A(a)(b) | 65,001 | 1,771,277 | ||||||
Crawford & Co., Class A | 27,856 | 296,666 | ||||||
eHealth, Inc.(a) | 39,164 | 2,848,398 | ||||||
Goosehead Insurance, Inc., Class A | 20,054 | 2,149,388 | ||||||
Horace Mann Educators Corp. | 66,033 | 2,853,286 | ||||||
James River Group Holdings Ltd. | 46,651 | 2,128,219 | ||||||
Mr Cooper Group, Inc.(a) | 115,001 | 3,997,435 | ||||||
ProSight Global, Inc.(a) | 12,399 | 156,227 | ||||||
SiriusPoint Ltd.(a) | 130,195 | 1,324,083 | ||||||
Watford Holdings Ltd.(a) | 25,862 | 895,084 | ||||||
|
| |||||||
18,420,063 | ||||||||
Insurance: Property-Casualty — 1.5% | ||||||||
AMERISAFE, Inc. | 31,172 | 1,995,008 | ||||||
Argo Group International Holdings Ltd. | 51,694 | 2,601,242 | ||||||
Donegal Group, Inc., Class A | 16,442 | 244,328 | ||||||
Employers Holdings, Inc. | 44,106 | 1,899,204 | ||||||
Enstar Group Ltd.(a) | 18,223 | 4,496,161 | ||||||
Essent Group Ltd. | 167,178 | 7,939,283 | ||||||
FedNat Holding Co. | 20,265 | 93,827 | ||||||
Genworth Financial, Inc., Class A(a) | 818,078 | 2,716,019 | ||||||
Greenlight Capital Re Ltd., Class A(a) | 45,606 | 396,772 | ||||||
HCI Group, Inc. | 9,261 | 711,430 | ||||||
Heritage Insurance Holdings, Inc. | 37,672 | 417,406 | ||||||
Hilltop Holdings, Inc. | 99,642 | 3,400,782 | ||||||
Investors Title Co. | 2,120 | 351,920 | ||||||
Kinsale Capital Group, Inc. | 33,173 | 5,466,911 | ||||||
NI Holdings, Inc.(a) | 17,790 | 328,759 | ||||||
NMI Holdings, Inc., Class A(a) | 132,545 | 3,133,364 | ||||||
Palomar Holdings, Inc.(a) | 30,797 | 2,064,631 | ||||||
ProAssurance Corp. | 79,587 | 2,129,748 | ||||||
Protective Insurance Corp., Class B | 13,677 | 312,793 | ||||||
Radian Group, Inc. | 296,117 | 6,884,720 | ||||||
RLI Corp. | 61,678 | 6,881,415 | ||||||
Safety Insurance Group, Inc. | 21,829 | 1,839,093 | ||||||
Selective Insurance Group, Inc. | 91,615 | 6,645,752 | ||||||
State Auto Financial Corp. | 27,251 | 537,117 | ||||||
Stewart Information Services Corp. | 40,510 | 2,107,735 | ||||||
United Fire Group, Inc. | 30,461 | 1,060,043 | ||||||
United Insurance Holdings Corp. | 29,849 | 215,211 | ||||||
Universal Insurance Holdings, Inc. | 42,660 | 611,744 | ||||||
|
| |||||||
67,482,418 | ||||||||
International Trade & Diversified Logistic — 0.1% | ||||||||
CryoPort, Inc.(b) | 60,337 | 3,138,128 | ||||||
Radiant Logistics, Inc. | 64,753 | 450,033 | ||||||
Vectrus, Inc. | 17,636 | 942,468 | ||||||
|
| |||||||
4,530,629 | ||||||||
Internet Software & Services — 0.1% |
| |||||||
ChannelAdvisor Corp.(b) | 42,543 | 1,001,888 | ||||||
eGain Corp. | 34,204 | 324,596 | ||||||
Gogo, Inc.(b) | 84,277 | 814,116 | ||||||
MediaAlpha, Inc., Class A | 27,034 | 957,814 |
12 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Internet Software & Services (continued) | ||||||||
Quotient Technology, Inc. | 131,056 | $ | 2,141,455 | |||||
TrueCar, Inc. | 150,084 | 718,152 | ||||||
|
| |||||||
5,958,021 | ||||||||
Leisure Time — 1.4% | ||||||||
Acushnet Holdings Corp. | 55,974 | 2,313,405 | ||||||
American Outdoor Brands, Inc.(a) | 20,502 | 516,650 | ||||||
Bluegreen Vacations Corp. | 14,077 | 151,750 | ||||||
Callaway Golf Co. | 148,292 | 3,966,811 | ||||||
Churchill Downs, Inc. | 58,464 | 13,295,883 | ||||||
Clarus Corp. | 31,331 | 534,194 | ||||||
Escalade, Inc. | 15,322 | 320,383 | ||||||
Hilton Grand Vacations, Inc.(a) | 129,274 | 4,846,482 | ||||||
Johnson Outdoors, Inc., Class A | 7,691 | 1,097,890 | ||||||
Liberty TripAdvisor Holdings, Inc., Class A(a) | 111,831 | 713,482 | ||||||
Lindblad Expeditions Holdings, Inc.(a) | 39,589 | 748,232 | ||||||
Marriott Vacations Worldwide Corp.(b) | 62,423 | 10,872,838 | ||||||
Nautilus, Inc.(a) | 45,255 | 707,788 | ||||||
OneSpaWorld Holdings Ltd.(a) | 67,167 | 715,329 | ||||||
RCI Hospitality Holdings, Inc. | 12,464 | 792,586 | ||||||
SeaWorld Entertainment, Inc.(a) | 77,212 | 3,835,120 | ||||||
Smith & Wesson Brands, Inc. | 94,296 | 1,645,465 | ||||||
Sturm Ruger & Co., Inc. | 25,827 | 1,706,390 | ||||||
Vista Outdoor, Inc.(a) | 88,480 | 2,837,554 | ||||||
YETI Holdings, Inc.(a) | 123,822 | 8,941,187 | ||||||
|
| |||||||
60,559,419 | ||||||||
Life Sciences Tools & Services — 0.0% | ||||||||
WaVe Life Sciences Ltd.(a) | 52,402 | 293,975 | ||||||
|
| |||||||
Luxury Items — 0.1% | ||||||||
Movado Group, Inc. | 24,262 | 690,254 | ||||||
Signet Jewelers Ltd.(a) | 82,162 | 4,763,753 | ||||||
|
| |||||||
5,454,007 | ||||||||
Machinery: Agricultural — 0.1% | ||||||||
Alamo Group, Inc. | 14,516 | 2,266,673 | ||||||
Lindsay Corp. | 17,445 | 2,906,686 | ||||||
Titan Machinery, Inc.(a) | 29,884 | 762,042 | ||||||
|
| |||||||
5,935,401 | ||||||||
Machinery: Construction & Handling — 0.2% | ||||||||
Astec Industries, Inc. | 33,958 | 2,561,112 | ||||||
Douglas Dynamics, Inc. | 35,071 | 1,618,527 | ||||||
Manitowoc Co., Inc.(a) | 51,092 | 1,053,517 | ||||||
NACCO Industries, Inc., Class A | 6,157 | 153,617 | ||||||
Terex Corp. | 102,589 | 4,726,275 | ||||||
|
| |||||||
10,113,048 | ||||||||
Machinery: Industrial — 1.5% | ||||||||
Agrify Corp.(a) | 7,739 | 96,583 | ||||||
Altra Industrial Motion Corp. | 101,141 | 5,595,120 | ||||||
Applied Industrial Technologies, Inc. | 58,521 | 5,335,360 | ||||||
Chart Industries, Inc.(a) | 56,057 | 7,979,714 | ||||||
Columbus McKinnon Corp. | 35,634 | 1,880,050 | ||||||
DXP Enterprises, Inc.(a) | 25,709 | 775,641 | ||||||
EnPro Industries, Inc. | 31,587 | 2,693,423 | ||||||
EVI Industries, Inc.(a) | 7,342 | 211,229 | ||||||
ExOne Co.(a) | 21,574 | 676,561 | ||||||
Gencor Industries, Inc.(a) | 13,922 | 186,694 | ||||||
Graham Corp. | 15,405 | 219,367 | ||||||
Hydrofarm Holdings Group, Inc.(a) | 16,866 | 1,017,357 | ||||||
Hyster-Yale Materials Handling, Inc. | 14,893 | 1,297,478 | ||||||
Intevac, Inc.(a)(b) | 36,767 | 262,884 | ||||||
John Bean Technologies Corp. | 48,888 | 6,518,726 |
Security | Shares | Value | ||||||
Machinery: Industrial (continued) | ||||||||
Kadant, Inc. | 18,298 | $ | 3,385,313 | |||||
Kennametal, Inc. | 126,406 | 5,052,448 | ||||||
Mayville Engineering Co., Inc.(a) | 9,414 | 135,373 | ||||||
MTS Systems Corp. | 29,902 | 1,740,296 | ||||||
Omega Flex, Inc. | 4,242 | 669,727 | ||||||
Proto Labs, Inc.(a) | 41,980 | 5,111,065 | ||||||
SPX Corp.(a) | 67,529 | 3,934,915 | ||||||
SPX FLOW, Inc. | 67,443 | 4,271,165 | ||||||
Tennant Co. | 26,822 | 2,142,810 | ||||||
Welbilt, Inc.(a) | 209,205 | 3,399,581 | ||||||
|
| |||||||
64,588,880 | ||||||||
Machinery: Specialty — 0.1% | ||||||||
Albany International Corp., Class A | 49,042 | 4,093,536 | ||||||
Hurco Cos., Inc. | 10,416 | 367,685 | ||||||
|
| |||||||
4,461,221 | ||||||||
Manufactured Housing — 0.2% | ||||||||
Cavco Industries, Inc. | 14,005 | 3,159,668 | ||||||
Skyline Champion Corp. | 79,937 | 3,617,949 | ||||||
|
| |||||||
6,777,617 | ||||||||
Medical & Dental Instruments & Supplies — 2.2% | ||||||||
Alphatec Holdings, Inc.(a) | 94,683 | 1,495,045 | ||||||
AngioDynamics, Inc.(a) | 54,478 | 1,274,785 | ||||||
Anika Therapeutics, Inc.(a) | 21,406 | 873,151 | ||||||
Antares Pharma, Inc.(a) | 243,433 | 1,000,510 | ||||||
Apyx Medical Corp.(a) | 50,717 | 489,926 | ||||||
AtriCure, Inc.(a) | 69,310 | 4,541,191 | ||||||
Atrion Corp. | 2,173 | 1,393,567 | ||||||
Avanos Medical, Inc.(a) | 72,524 | 3,172,200 | ||||||
Axogen, Inc.(a) | 55,140 | 1,117,136 | ||||||
BioLife Solutions, Inc.(a) | 21,911 | 788,796 | ||||||
Cantel Medical Corp.(a) | 59,640 | 4,761,658 | ||||||
Cardiovascular Systems, Inc.(a) | 59,566 | 2,283,760 | ||||||
Centogene NV(a) | 15,456 | 187,481 | ||||||
Cerus Corp.(a) | 250,220 | 1,503,822 | ||||||
Chembio Diagnostics, Inc.(a) | 33,897 | 118,978 | ||||||
Co-Diagnostics, Inc.(a)(b) | 39,393 | 375,809 | ||||||
Community Health Systems, Inc.(a) | 129,646 | 1,752,814 | ||||||
CONMED Corp. | 42,462 | 5,545,113 | ||||||
CryoLife, Inc.(a) | 58,286 | 1,316,098 | ||||||
Cutera, Inc.(a) | 26,637 | 800,442 | ||||||
Eargo, Inc.(a)(b) | 11,877 | 593,256 | ||||||
Exagen, Inc.(a) | 5,688 | 99,540 | ||||||
InfuSystem Holdings, Inc.(a) | 23,537 | 479,213 | ||||||
Intersect ENT, Inc.(a) | 49,911 | 1,042,142 | ||||||
Invacare Corp. | 50,360 | 403,887 | ||||||
LeMaitre Vascular, Inc. | 25,604 | 1,248,963 | ||||||
LENSAR, Inc.(a)(b) | 14,177 | 102,925 | ||||||
LivaNova PLC(a) | 76,534 | 5,642,852 | ||||||
Meridian Bioscience, Inc.(a) | 63,560 | 1,668,450 | ||||||
Merit Medical Systems, Inc.(a) | 85,364 | 5,111,596 | ||||||
Milestone Scientific Inc.(a) | 71,673 | 255,873 | ||||||
NanoString Technologies, Inc.(a) | 69,960 | 4,597,072 | ||||||
Neogen Corp.(a) | 82,152 | 7,302,491 | ||||||
NuVasive, Inc.(a)(b) | 78,180 | 5,125,481 | ||||||
Ocular Therapeutix, Inc.(a)(b) | 110,337 | 1,810,630 | ||||||
OraSure Technologies, Inc.(a) | 106,969 | 1,248,328 | ||||||
Organogenesis Holdings, Inc.(a) | 36,957 | 673,357 | ||||||
Orthofix Medical, Inc.(a) | 27,983 | 1,213,063 | ||||||
OrthoPediatrics Corp.(a)(b) | 20,339 | 991,526 | ||||||
Outset Medical, Inc.(a) | 14,651 | 796,868 | ||||||
Owens & Minor, Inc. | 110,329 | 4,147,267 |
SERIES SCHEDULE OF INVESTMENTS | 13 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Medical & Dental Instruments & Supplies (continued) | ||||||||
Patterson Cos., Inc. | 134,290 | $ | 4,290,565 | |||||
Pulmonx Corp.(a) | 17,206 | 787,002 | ||||||
Retractable Technologies Inc.(a)(b) | 22,619 | 289,976 | ||||||
SeaSpine Holdings Corp.(a) | 39,943 | 695,008 | ||||||
Sientra, Inc.(a) | 81,563 | 594,594 | ||||||
STAAR Surgical Co.(a)(b) | 71,244 | 7,509,830 | ||||||
Surgalign Holdings, Inc.(a) | 140,395 | 306,061 | ||||||
Surmodics, Inc.(a) | 20,853 | 1,169,228 | ||||||
TransMedics Group, Inc.(a) | 38,379 | 1,592,345 | ||||||
Utah Medical Products, Inc. | 5,607 | 485,566 | ||||||
ViewRay, Inc.(a) | 186,410 | 810,884 | ||||||
|
| |||||||
97,878,121 | ||||||||
Medical Equipment — 1.5% | ||||||||
Accuray, Inc.(a) | 139,476 | 690,406 | ||||||
Acutus Medical, Inc.(a)(b) | 21,186 | 283,257 | ||||||
AdaptHealth Corp.(a)(b) | 118,127 | 4,342,349 | ||||||
Apria, Inc.(a) | 9,952 | 277,959 | ||||||
Beyond Air, Inc.(a)(b) | 21,679 | 119,234 | ||||||
BioSig Technologies, Inc.(a) | 36,760 | 158,436 | ||||||
CareDx, Inc.(a) | 78,852 | 5,369,033 | ||||||
Electromed, Inc.(a) | 11,555 | 121,790 | ||||||
Fluidigm Corp.(a)(b) | 114,760 | 518,715 | ||||||
FONAR Corp.(a) | 9,408 | 170,191 | ||||||
Glaukos Corp.(a) | 66,935 | 5,617,855 | ||||||
Icad, Inc.(a) | 29,695 | 630,128 | ||||||
Inspire Medical Systems, Inc.(a) | 40,628 | 8,409,590 | ||||||
IntriCon Corp.(a)(b) | 13,956 | 357,832 | ||||||
iRadimed Corp.(a) | 9,949 | 256,386 | ||||||
iRhythm Technologies, Inc.(a) | 45,126 | 6,266,196 | ||||||
Lantheus Holdings, Inc.(a) | 101,316 | 2,165,123 | ||||||
Luminex Corp. | 65,540 | 2,090,726 | ||||||
Misonix, Inc.(a) | 17,761 | 347,938 | ||||||
Natus Medical, Inc.(a) | 50,504 | 1,293,407 | ||||||
Nemaura Medical, Inc.(a) | 11,238 | 85,858 | ||||||
Nevro Corp.(a) | 52,942 | 7,385,409 | ||||||
PAVmed, Inc.(a)(b) | 92,539 | 410,873 | ||||||
Quanterix Corp.(a) | 36,316 | 2,123,397 | ||||||
Quotient Ltd.(a)(b) | 105,937 | 389,848 | ||||||
Repro-Med Systems, Inc.(a)(b) | 40,890 | 143,933 | ||||||
Seer, Inc.(a)(b) | 21,409 | 1,070,878 | ||||||
Shockwave Medical, Inc.(a)(b) | 44,685 | 5,820,668 | ||||||
SI-BONE, Inc.(a) | 44,425 | 1,413,159 | ||||||
Silk Road Medical, Inc.(a) | 44,789 | 2,268,563 | ||||||
Soliton, Inc.(a) | 9,117 | 160,186 | ||||||
Stereotaxis, Inc.(a) | 67,714 | 455,038 | ||||||
Tactile Systems Technology, Inc.(a) | 28,003 | 1,525,883 | ||||||
Vapotherm, Inc.(a)(b) | 29,394 | 706,044 | ||||||
Varex Imaging Corp.(a) | 64,905 | 1,329,903 | ||||||
Venus Concept, Inc.(a) | 28,285 | 66,470 | ||||||
Zynex, Inc.(a)(b) | 27,556 | 420,780 | ||||||
|
| |||||||
65,263,441 | ||||||||
Medical Services — 0.1% | ||||||||
Aspira Women’s Health, Inc.(b) | 130,095 | 878,141 | ||||||
DermTech, Inc.(b) | 15,429 | 783,639 | ||||||
Fulgent Genetics, Inc.(b) | 20,735 | 2,003,416 | ||||||
Tela Bio Inc. | 8,925 | 132,982 | ||||||
VolitionRX Ltd. | 39,791 | 150,410 | ||||||
|
| |||||||
3,948,588 | ||||||||
Metal Fabricating — 0.9% | ||||||||
Advanced Drainage Systems, Inc. | 85,562 | 8,846,255 |
Security | Shares | Value | ||||||
Metal Fabricating (continued) | ||||||||
Compx International, Inc. | 2,464 | $ | 44,377 | |||||
DMC Global, Inc.(b) | 22,241 | 1,206,797 | ||||||
Eastern Co. | 8,636 | 231,445 | ||||||
Haynes International, Inc. | 18,971 | 562,870 | ||||||
Lawson Products, Inc.(a) | 6,868 | 356,174 | ||||||
LB Foster Co., Class A(a) | 16,911 | 302,707 | ||||||
MRC Global, Inc.(a) | 121,138 | 1,093,876 | ||||||
Mueller Industries, Inc. | 87,419 | 3,614,776 | ||||||
Mueller Water Products, Inc., Class A | 242,461 | 3,367,783 | ||||||
NN, Inc.(a) | 62,601 | 442,589 | ||||||
Northwest Pipe Co.(a)(b) | 14,320 | 478,574 | ||||||
RBC Bearings, Inc.(a)(b) | 38,330 | 7,542,194 | ||||||
Rexnord Corp. | 186,588 | 8,786,429 | ||||||
Worthington Industries, Inc. | 53,223 | 3,570,731 | ||||||
|
| |||||||
40,447,577 | ||||||||
Metals & Minerals: Diversified — 0.9% | ||||||||
Cleveland-Cliffs, Inc. | 692,102 | 13,918,171 | ||||||
Commercial Metals Co. | 185,824 | 5,730,812 | ||||||
Compass Minerals International, Inc. | 52,140 | 3,270,221 | ||||||
Energy Fuels, Inc.(a)(b) | 205,360 | 1,166,445 | ||||||
Ferroglobe PLC(c) | 42,394 | — | ||||||
Gatos Silver, Inc.(a)(b) | 34,621 | 345,171 | ||||||
Hecla Mining Co.(b) | 824,248 | 4,689,971 | ||||||
Intrepid Potash, Inc.(a)(b) | 14,601 | 475,409 | ||||||
Materion Corp. | 30,793 | 2,039,728 | ||||||
Minerals Technologies, Inc. | 54,317 | 4,091,157 | ||||||
Oil-Dri Corp. of America | 8,646 | 297,768 | ||||||
SunCoke Energy, Inc. | 124,359 | 871,757 | ||||||
U.S. Silica Holdings, Inc. | 111,690 | 1,372,670 | ||||||
United States Lime & Minerals, Inc. | 3,248 | 434,290 | ||||||
|
| |||||||
38,703,570 | ||||||||
Office Supplies & Equipment — 0.4% | ||||||||
ACCO Brands Corp. | 141,218 | 1,191,880 | ||||||
Eastman Kodak Co.(a)(b) | 22,351 | 175,902 | ||||||
Herman Miller, Inc. | 93,547 | 3,849,459 | ||||||
HNI Corp. | 65,207 | 2,579,589 | ||||||
Kimball International, Inc., Class B | 54,723 | 766,122 | ||||||
Knoll, Inc. | 75,616 | 1,248,420 | ||||||
Pitney Bowes, Inc. | 275,637 | 2,271,249 | ||||||
Steelcase, Inc., Class A | 132,169 | 1,901,912 | ||||||
Transocean Ltd.(a) | 887,547 | 3,150,792 | ||||||
|
| |||||||
17,135,325 | ||||||||
Oil & Gas Producers — 0.0% | ||||||||
Kosmos Energy Ltd. | 609,502 | 1,871,171 | ||||||
|
| |||||||
Oil Well Equipment & Services — 0.6% | ||||||||
Bristow Group, Inc.(a) | 9,830 | 254,401 | ||||||
Cactus, Inc., Class A | 72,447 | 2,218,327 | ||||||
ChampionX Corp.(a) | 290,299 | 6,308,197 | ||||||
Dril-Quip, Inc.(a) | 53,209 | 1,768,135 | ||||||
Frank’s International NV(a) | 231,077 | 820,323 | ||||||
Helix Energy Solutions Group, Inc.(a) | 214,480 | 1,083,124 | ||||||
Liberty Oilfield Services, Inc., Class A | 124,946 | 1,410,640 | ||||||
Matrix Service Co.(a) | 40,520 | 531,217 | ||||||
Nabors Industries Ltd. | 10,577 | 988,421 | ||||||
National Energy Services Reunited Corp.(a)(b) | 41,955 | 518,983 | ||||||
Newpark Resources, Inc.(a) | 134,778 | 423,203 | ||||||
NexTier Oilfield Solutions, Inc.(a) | 245,665 | 913,874 | ||||||
Oceaneering International, Inc.(a) | 151,036 | 1,724,831 | ||||||
Oil States International, Inc.(a) | 89,068 | 537,080 | ||||||
Patterson-UTI Energy, Inc. | 275,660 | 1,965,456 |
14 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Oil Well Equipment & Services (continued) | ||||||||
ProPetro Holding Corp.(a) | 121,968 | $ | 1,300,179 | |||||
RPC, Inc.(a) | 88,750 | 479,250 | ||||||
SEACOR Holdings, Inc.(a) | 29,849 | 1,216,347 | ||||||
Select Energy Services, Inc., Class A(a) | 87,959 | 438,036 | ||||||
Solaris Oilfield Infrastructure, Inc., Class A | 44,889 | 550,788 | ||||||
|
| |||||||
25,450,812 | ||||||||
Oil, Gas & Consumable Fuels — 0.6% | ||||||||
Archrock, Inc. | 195,123 | 1,851,717 | ||||||
Ardmore Shipping Corp. | 56,023 | 254,345 | ||||||
DHT Holdings, Inc. | 170,222 | 1,009,417 | ||||||
Dorian LPG Ltd.(a)(b) | 54,924 | 721,152 | ||||||
Exterran Corp.(a) | 44,331 | 148,952 | ||||||
Frontline Ltd. | 176,909 | 1,264,899 | ||||||
Plug Power, Inc.(a) | 637,219 | 22,837,929 | ||||||
|
| |||||||
28,088,411 | ||||||||
Oil: Crude Producers — 1.2% | ||||||||
Antero Resources Corp.(a) | 385,845 | 3,935,619 | ||||||
Berry Corp. | 106,962 | 589,361 | ||||||
Bonanza Creek Energy, Inc.(a)(b) | 32,194 | 1,150,292 | ||||||
Brigham Minerals, Inc., Class A | 63,128 | 924,194 | ||||||
CNX Resources Corp.(a) | 342,787 | 5,038,969 | ||||||
Comstock Resources, Inc.(a)(b) | 36,095 | 199,966 | ||||||
Contango Oil & Gas Co.(a)(b) | 176,637 | 688,884 | ||||||
CVR Energy, Inc. | 46,161 | 885,368 | ||||||
Earthstone Energy, Inc., Class A(a) | 32,802 | 234,534 | ||||||
Evolution Petroleum Corp. | 44,695 | 151,069 | ||||||
Falcon Minerals Corp. | 63,528 | 285,241 | ||||||
Goodrich Petroleum Corp.(a) | 14,462 | 136,811 | ||||||
Magnolia Oil & Gas Corp., Class A(a)(b) | 189,076 | 2,170,592 | ||||||
ONE Gas, Inc. | 81,701 | 6,283,624 | ||||||
Overseas Shipholding Group, Inc., Class A(a) | 108,747 | 224,019 | ||||||
Ovintiv, Inc. | 404,596 | 9,637,477 | ||||||
PDC Energy, Inc.(a)(b) | 151,791 | 5,221,610 | ||||||
Penn Virginia Corp.(a)(b) | 22,943 | 307,436 | ||||||
PrimeEnergy Resources Corp.(a) | 776 | 40,655 | ||||||
Range Resources Corp.(a) | 341,880 | 3,531,620 | ||||||
SM Energy Co. | 182,933 | 2,994,613 | ||||||
Southwestern Energy Co.(a) | 1,020,220 | 4,744,023 | ||||||
Talos Energy, Inc.(a) | 20,478 | 246,555 | ||||||
Tellurian, Inc.(a)(b) | 257,529 | 602,618 | ||||||
W&T Offshore, Inc.(a) | 145,832 | 523,537 | ||||||
Whiting Petroleum Corp.(a) | 1,882 | 66,717 | ||||||
|
| |||||||
50,815,404 | ||||||||
Oil: Refining & Marketing — 0.4% | ||||||||
Adams Resources & Energy, Inc. | 3,151 | 88,260 | ||||||
Clean Energy Fuels Corp.(a)(b) | 209,911 | 2,884,177 | ||||||
Delek US Holdings, Inc. | 94,902 | 2,066,966 | ||||||
Par Pacific Holdings, Inc.(a) | 59,617 | 841,792 | ||||||
PBF Energy, Inc., Class A | 146,181 | 2,068,461 | ||||||
Renewable Energy Group, Inc.(a) | 60,162 | 3,973,098 | ||||||
Trecora Resources(a)(b) | 35,662 | 277,094 | ||||||
World Fuel Services Corp. | 99,372 | 3,497,894 | ||||||
|
| |||||||
15,697,742 | ||||||||
Paints & Coatings — 0.2% | ||||||||
Chase Corp. | 10,670 | 1,241,881 | ||||||
Ferro Corp.(a) | 124,313 | 2,095,917 |
Security | Shares | Value | ||||||
Paints & Coatings (continued) | ||||||||
HB Fuller Co. | 80,482 | $ | 5,063,123 | |||||
Kronos Worldwide, Inc. | 30,709 | 469,848 | ||||||
|
| |||||||
8,870,769 | ||||||||
Paper — 0.2% | ||||||||
Clearwater Paper Corp.(a) | 23,817 | 895,995 | ||||||
Domtar Corp. | 83,381 | 3,080,928 | ||||||
Glatfelter Corp. | 66,295 | 1,136,959 | ||||||
Neenah, Inc. | 25,262 | 1,297,962 | ||||||
Schweitzer-Mauduit International, Inc. | 47,249 | 2,313,783 | ||||||
Verso Corp., Class A | 49,235 | 718,339 | ||||||
|
| |||||||
9,443,966 | ||||||||
Personal Care — 0.3% | ||||||||
Edgewell Personal Care Co. | 87,032 | 3,446,467 | ||||||
Lifevantage Corp.(a) | 21,593 | 201,895 | ||||||
USANA Health Sciences, Inc.(a) | 19,343 | 1,887,877 | ||||||
Veru, Inc.(a) | 81,915 | 882,634 | ||||||
WD-40 Co. | 21,274 | 6,513,673 | ||||||
|
| |||||||
12,932,546 | ||||||||
Pharmaceuticals — 2.1% | ||||||||
Abeona Therapeutics, Inc.(a) | 89,375 | 168,025 | ||||||
AcelRx Pharmaceuticals, Inc.(a)(b) | 153,986 | 261,776 | ||||||
Aerie Pharmaceuticals, Inc.(a) | 55,532 | 992,357 | ||||||
Agile Therapeutics, Inc.(a) | 114,870 | 238,930 | ||||||
Amneal Pharmaceuticals, Inc.(a) | 149,149 | 1,003,773 | ||||||
Amphastar Pharmaceuticals, Inc.(a)(b) | 57,581 | 1,054,884 | ||||||
Angion Biomedica Corp.(a)(b) | 7,705 | 139,229 | ||||||
Aquestive Therapeutics, Inc.(a)(b) | 34,284 | 178,277 | ||||||
Arrowhead Pharmaceuticals, Inc.(a) | 158,019 | 10,478,240 | ||||||
Atea Pharmaceuticals, Inc.(a)(b) | 22,095 | 1,364,366 | ||||||
Athira Pharma, Inc.(a)(b) | 21,050 | 387,320 | ||||||
Avenue Therapeutics, Inc.(a)(b) | 10,559 | 64,093 | ||||||
Axonics Modulation Technologies, Inc.(a)(b) | 46,199 | 2,766,858 | ||||||
Axsome Therapeutics, Inc.(a)(b) | 45,295 | 2,564,603 | ||||||
Aytu BioScience, Inc.(a)(b) | 31,207 | 237,173 | ||||||
Cassava Sciences, Inc.(a) | 50,564 | 2,272,852 | ||||||
Cerecor, Inc.(a) | 57,957 | 175,030 | ||||||
Chimerix, Inc.(a) | 89,028 | 858,230 | ||||||
ChromaDex Corp.(a)(b) | 63,398 | 592,137 | ||||||
Concert Pharmaceuticals, Inc.(a) | 50,217 | 250,583 | ||||||
Corcept Therapeutics, Inc.(a) | 147,822 | 3,516,685 | ||||||
CorMedix, Inc.(a)(b) | 52,097 | 520,449 | ||||||
Dicerna Pharmaceuticals, Inc.(a)(b) | 100,982 | 2,582,110 | ||||||
Durect Corp.(a) | 330,083 | 653,564 | ||||||
Eagle Pharmaceuticals, Inc.(a) | 15,735 | 656,779 | ||||||
Eloxx Pharmaceuticals, Inc.(a)(b) | 42,227 | 140,194 | ||||||
Enanta Pharmaceuticals, Inc.(a) | 28,878 | 1,424,263 | ||||||
Endo International PLC(a) | 345,914 | 2,563,223 | ||||||
Esperion Therapeutics, Inc.(a)(b) | 39,709 | 1,113,837 | ||||||
Eton Pharmaceuticals, Inc.(a)(b) | 23,833 | 174,458 | ||||||
Evolus, Inc.(a) | 34,495 | 448,090 | ||||||
Galectin Therapeutics, Inc.(a)(b) | 71,645 | 155,470 | ||||||
Graybug Vision, Inc.(a)(b) | 8,898 | 49,384 | ||||||
Harmony Biosciences Holdings, Inc.(a)(b) | 9,679 | 319,794 | ||||||
Harrow Health, Inc.(a) | 36,046 | 243,310 | ||||||
Heska Corp.(a)(b) | 10,706 | 1,803,533 | ||||||
Innoviva, Inc.(a) | 97,493 | 1,165,041 | ||||||
Intra-Cellular Therapies, Inc.(a)(b) | 101,004 | 3,427,066 | ||||||
Ironwood Pharmaceuticals, Inc.(a)(b) | 257,022 | 2,873,506 | ||||||
La Jolla Pharmaceutical Co.(a)(b) | 34,536 | 146,433 |
SERIES SCHEDULE OF INVESTMENTS | 15 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Landos Biopharma, Inc.(a) | 8,208 | $ | 79,043 | |||||
Lannett Co., Inc.(a) | 47,352 | 250,019 | ||||||
Liquidia Corp.(a)(b) | 34,631 | 93,157 | ||||||
MEI Pharma, Inc.(a) | 169,441 | 581,183 | ||||||
Omthera Pharmaceuticals, Inc.(c) | 1,326 | — | ||||||
Optinose, Inc.(a) | 54,049 | 199,441 | ||||||
Osmotica Pharmaceuticals PLC(a)(b) | 7,946 | 25,904 | ||||||
Pacira BioSciences, Inc.(a)(b) | 67,293 | 4,716,566 | ||||||
Paratek Pharmaceuticals, Inc.(a)(b) | 68,365 | 482,657 | ||||||
PetIQ, Inc.(a) | 32,059 | 1,130,400 | ||||||
Prestige Consumer Healthcare, Inc.(a) | 79,693 | 3,512,867 | ||||||
Radius Health, Inc.(a) | 70,039 | 1,461,014 | ||||||
Revance Therapeutics, Inc.(a) | 96,155 | 2,687,532 | ||||||
scPharmaceuticals, Inc.(a) | 9,076 | 60,355 | ||||||
SIGA Technologies, Inc.(a)(b) | 100,937 | 656,090 | ||||||
Spectrum Pharmaceuticals, Inc.(a) | 202,104 | 658,859 | ||||||
Supernus Pharmaceuticals, Inc.(a) | 74,638 | 1,954,023 | ||||||
Syndax Pharmaceuticals, Inc.(a) | 46,967 | 1,050,182 | ||||||
Tarsus Pharmaceuticals, Inc.(a) | 8,982 | 289,490 | ||||||
Terns Pharmaceuticals, Inc.(a) | 12,074 | 265,628 | ||||||
TG Therapeutics, Inc.(a)(b) | 188,319 | 9,076,976 | ||||||
TherapeuticsMD, Inc.(a)(b) | 504,604 | 676,169 | ||||||
Theravance Biopharma, Inc.(a)(b) | 70,297 | 1,434,762 | ||||||
Ultragenyx Pharmaceutical, Inc.(a)(b) | 97,973 | 11,155,206 | ||||||
Voyager Therapeutics, Inc.(a) | 44,577 | 209,958 | ||||||
Zogenix, Inc.(a) | 84,910 | 1,657,443 | ||||||
|
| |||||||
94,390,849 | ||||||||
Photography — 0.1% | ||||||||
GoPro, Inc., Class A(a) | 187,241 | 2,179,485 | ||||||
|
| |||||||
Plastics — 0.1% | ||||||||
Trinseo SA | 60,913 | 3,878,331 | ||||||
|
| |||||||
Power Transmission Equipment — 0.2% | ||||||||
Advanced Energy Industries, Inc.(b) | 57,760 | 6,305,659 | ||||||
Powell Industries, Inc. | 13,696 | 463,884 | ||||||
Vicor Corp.(a) | 31,477 | 2,676,489 | ||||||
|
| |||||||
9,446,032 | ||||||||
Printing & Copying Services — 0.2% | ||||||||
Casella Waste Systems, Inc., Class A | 76,170 | 4,842,127 | ||||||
Cimpress PLC | 28,835 | 2,887,248 | ||||||
|
| |||||||
7,729,375 | ||||||||
Producer Durables: Miscellaneous — 0.0% | ||||||||
Park-Ohio Holdings Corp. | 13,595 | 428,107 | ||||||
|
| |||||||
Production Technology Equipment — 0.7% | ||||||||
Axcelis Technologies, Inc.(a) | 49,796 | 2,046,118 | ||||||
Brooks Automation, Inc. | 112,471 | 9,183,257 | ||||||
Cohu, Inc. | 64,084 | 2,681,275 | ||||||
CyberOptics Corp.(a) | 10,282 | 267,024 | ||||||
Ichor Holdings Ltd.(a) | 43,766 | 2,354,611 | ||||||
Maxeon Solar Technologies Ltd.(a)(b) | 16,433 | 518,625 | ||||||
Onto Innovation, Inc.(a) | 72,259 | 4,748,139 | ||||||
Photronics, Inc.(a) | 93,999 | 1,208,827 | ||||||
Ultra Clean Holdings, Inc.(a) | 61,038 | 3,542,645 | ||||||
Veeco Instruments, Inc.(a)(b) | 82,107 | 1,702,899 | ||||||
Xperi Holding Corp. | 157,994 | 3,439,529 | ||||||
|
| |||||||
31,692,949 | ||||||||
Publishing — 0.1% | ||||||||
Daily Journal Corp.(a)(b) | 1,917 | 606,635 | ||||||
Eros STX Global Corp.(a) | 234,662 | 424,738 |
Security | Shares | Value | ||||||
Publishing (continued) | ||||||||
Gannett Co., Inc.(a) | 200,394 | $ | 1,078,120 | |||||
Meredith Corp. | 60,345 | 1,797,074 | ||||||
Scholastic Corp. | 43,239 | 1,301,926 | ||||||
Tribune Publishing Co. | 23,905 | 430,051 | ||||||
|
| |||||||
5,638,544 | ||||||||
Radio & TV Broadcasters — 0.4% | ||||||||
Entercom Communications Corp., Class A | 178,691 | 938,128 | ||||||
Entravision Communications Corp., Class A | 88,471 | 357,423 | ||||||
Gray Television, Inc. | 131,407 | 2,417,889 | ||||||
iHeartMedia, Inc., Class A(a) | 91,332 | 1,657,676 | ||||||
Liberty Media Corp.-Liberty Braves, Class A(a) | 14,423 | 411,200 | ||||||
Liberty Media Corp.-Liberty Braves, Class C(a) | 55,028 | 1,530,879 | ||||||
MSG Networks, Inc., Class A(a) | 45,407 | 682,921 | ||||||
Saga Communications, Inc., Class A | 6,403 | 139,905 | ||||||
Sinclair Broadcast Group, Inc., Class A | 67,750 | 1,982,365 | ||||||
TEGNA, Inc. | 341,406 | 6,428,675 | ||||||
|
| |||||||
16,547,061 | ||||||||
Railroad Equipment — 0.1% | ||||||||
Greenbrier Cos., Inc. | 52,507 | 2,479,381 | ||||||
|
| |||||||
Real Estate — 0.7% | ||||||||
Avalon GloboCare Corp.(a)(b) | 32,360 | 34,625 | ||||||
Cushman & Wakefield PLC(a) | 169,238 | 2,761,964 | ||||||
eXp World Holdings, Inc.(a)(b) | 75,467 | 3,437,522 | ||||||
Kennedy-Wilson Holdings, Inc. | 189,997 | 3,839,839 | ||||||
Newmark Group, Inc., Class A | 235,924 | 2,360,420 | ||||||
Realogy Holdings Corp.(a) | 174,144 | 2,634,799 | ||||||
Redfin Corp.(a) | 154,038 | 10,257,391 | ||||||
Retail Value, Inc. | 23,816 | 445,597 | ||||||
RMR Group, Inc., Class A | 22,731 | 927,652 | ||||||
St. Joe Co. | 49,968 | 2,143,627 | ||||||
Stratus Properties, Inc.(a) | 9,448 | 288,164 | ||||||
Tejon Ranch Co.(a)(b) | 32,564 | 545,121 | ||||||
|
| |||||||
29,676,721 | ||||||||
Real Estate Investment Trusts (REITs) — 5.5% | ||||||||
Acadia Realty Trust | 136,296 | 2,585,535 | ||||||
Agree Realty Corp. | 95,523 | 6,429,653 | ||||||
Alexander & Baldwin, Inc. | 110,075 | 1,848,159 | ||||||
Alexander’s, Inc. | 3,225 | 894,293 | ||||||
Alpine Income Property Trust, Inc. | 11,117 | 192,991 | ||||||
American Assets Trust, Inc. | 76,906 | 2,494,831 | ||||||
American Finance Trust, Inc. | 168,230 | 1,652,019 | ||||||
Apollo Commercial Real Estate Finance, Inc. | 215,383 | 3,008,901 | ||||||
Arbor Realty Trust, Inc. | 176,720 | 2,809,848 | ||||||
Ares Commercial Real Estate Corp. | 47,589 | 652,921 | ||||||
Armada Hoffler Properties, Inc. | 89,285 | 1,119,634 | ||||||
ARMOUR Residential REIT, Inc. | 97,324 | 1,187,353 | ||||||
Blackstone Mortgage Trust, Inc., Class A | 211,862 | 6,567,722 | ||||||
Bluerock Residential Growth REIT, Inc. | 33,086 | 334,499 | ||||||
Broadmark Realty Capital, Inc. | 210,849 | 2,205,481 | ||||||
Broadstone Net Lease, Inc. | 52,694 | 964,300 | ||||||
BRT Apartments Corp. | 16,395 | 276,092 | ||||||
Capstead Mortgage Corp. | 143,530 | 894,192 | ||||||
CareTrust REIT, Inc. | 149,492 | 3,480,921 | ||||||
Catchmark Timber Trust, Inc., Class A | 76,183 | 775,543 | ||||||
Centerspace | 19,765 | 1,344,020 | ||||||
Chatham Lodging Trust | 71,747 | 944,191 | ||||||
Cherry Hill Mortgage Investment Corp. | 21,858 | 204,154 | ||||||
CIM Commercial Trust Corp. | 19,931 | 256,911 | ||||||
City Office REIT, Inc. | 66,662 | 707,950 | ||||||
Clipper Realty, Inc. | 23,302 | 184,552 |
16 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Real Estate Investment Trusts (REITs) (continued) |
| |||||||
Colony Credit Real Estate, Inc. | 129,290 | $ | 1,101,551 | |||||
Community Healthcare Trust, Inc. | 33,352 | 1,538,194 | ||||||
CoreCivic, Inc. | 182,732 | 1,653,725 | ||||||
CorEnergy Infrastructure Trust, Inc. | 21,957 | 155,236 | ||||||
CTO Realty Growth, Inc. | 9,099 | 473,239 | ||||||
DiamondRock Hospitality Co.(a) | 302,898 | 3,119,849 | ||||||
Diversified Healthcare Trust | 362,135 | 1,731,005 | ||||||
Dynex Capital, Inc. | 36,937 | 699,217 | ||||||
Easterly Government Properties, Inc. | 132,524 | 2,747,223 | ||||||
EastGroup Properties, Inc. | 60,615 | 8,684,917 | ||||||
Ellington Financial, Inc. | 62,839 | 1,006,052 | ||||||
Ellington Residential Mortgage REIT | 14,587 | 179,566 | ||||||
Essential Properties Realty Trust, Inc. | 158,395 | 3,616,158 | ||||||
Farmland Partners, Inc. | 36,640 | 410,734 | ||||||
Four Corners Property Trust, Inc. | 111,156 | 3,045,674 | ||||||
Franklin Street Properties Corp. | 182,985 | 997,268 | ||||||
Geo Group, Inc. | 181,328 | 1,407,105 | ||||||
Getty Realty Corp. | 53,031 | 1,501,838 | ||||||
Gladstone Commercial Corp. | 57,026 | 1,115,429 | ||||||
Gladstone Land Corp. | 31,249 | 571,857 | ||||||
Global Medical REIT, Inc. | 67,334 | 882,749 | ||||||
Global Net Lease, Inc. | 141,534 | 2,556,104 | ||||||
Granite Point Mortgage Trust, Inc. | 91,236 | 1,092,095 | ||||||
Great Ajax Corp. | 35,257 | 384,301 | ||||||
Healthcare Realty Trust, Inc. | 217,317 | 6,589,051 | ||||||
Hersha Hospitality Trust(a) | 52,620 | 555,141 | ||||||
Independence Realty Trust, Inc. | 152,026 | 2,310,795 | ||||||
Indus Realty Trust, Inc.(b) | 4,477 | 269,336 | ||||||
Industrial Logistics Properties Trust | 98,858 | 2,286,586 | ||||||
Innovative Industrial Properties, Inc. | 36,423 | 6,561,968 | ||||||
Invesco Mortgage Capital, Inc. | 350,114 | 1,403,957 | ||||||
iStar, Inc. | 117,313 | 2,085,825 | ||||||
Kite Realty Group Trust | 126,506 | 2,440,301 | ||||||
KKR Real Estate Finance Trust, Inc. | 43,453 | 799,101 | ||||||
Lexington Realty Trust | 423,117 | 4,700,830 | ||||||
LTC Properties, Inc. | 59,517 | 2,483,049 | ||||||
Mack-Cali Realty Corp. | 131,036 | 2,028,437 | ||||||
MFA Financial, Inc. | 689,374 | 2,805,752 | ||||||
Monmouth Real Estate Investment Corp. | 145,144 | 2,567,597 | ||||||
National Health Investors, Inc. | 68,632 | 4,960,721 | ||||||
National Storage Affiliates Trust | 95,648 | 3,819,225 | ||||||
New Senior Investment Group, Inc. | 121,530 | 757,132 | ||||||
New York Mortgage Trust, Inc. | 586,018 | 2,619,500 | ||||||
NexPoint Residential Trust, Inc. | 33,544 | 1,546,043 | ||||||
Office Properties Income Trust | 73,057 | 2,010,529 | ||||||
One Liberty Properties, Inc. | 25,572 | 569,488 | ||||||
Orchid Island Capital, Inc. | 120,605 | 724,836 | ||||||
Pebblebrook Hotel Trust | 205,194 | 4,984,162 | ||||||
PennyMac Mortgage Investment Trust | 154,744 | 3,032,982 | ||||||
Physicians Realty Trust | 326,051 | 5,761,321 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 188,849 | 3,280,307 | ||||||
Plumas Bancorp | 6,156 | 180,063 | ||||||
Plymouth Industrial REIT, Inc. | 35,135 | 592,025 | ||||||
PotlatchDeltic Corp. | 99,447 | 5,262,735 | ||||||
Preferred Apartment Communities, Inc., Class A | 70,236 | 691,825 | ||||||
PS Business Parks, Inc., Class A | 30,375 | 4,695,368 | ||||||
QTS Realty Trust, Inc., Class A | 97,275 | 6,034,941 | ||||||
Ready Capital Corp. | 114,062 | 1,530,712 | ||||||
Redwood Trust, Inc. | 173,328 | 1,804,344 | ||||||
Retail Opportunity Investments Corp. | 173,504 | 2,753,508 | ||||||
Retail Properties of America, Inc., Class A | 326,363 | 3,420,284 | ||||||
RLJ Lodging Trust | 247,443 | 3,830,418 |
Security | Shares | Value | ||||||
Real Estate Investment Trusts (REITs) (continued) |
| |||||||
RPT Realty | 124,389 | $ | 1,419,278 | |||||
Sabra Health Care REIT, Inc. | 311,842 | 5,413,577 | ||||||
Safehold, Inc. | 27,356 | 1,917,656 | ||||||
Saul Centers, Inc. | 18,784 | 753,426 | ||||||
Seritage Growth Properties, Class A(a) | 60,705 | 1,113,937 | ||||||
Service Properties Trust | 249,927 | 2,964,134 | ||||||
STAG Industrial, Inc. | 245,911 | 8,265,069 | ||||||
Summit Hotel Properties, Inc. | 157,085 | 1,595,984 | ||||||
Sunstone Hotel Investors, Inc. | 327,746 | 4,083,715 | ||||||
Tanger Factory Outlet Centers, Inc. | 137,736 | 2,083,946 | ||||||
Terreno Realty Corp. | 104,942 | 6,062,499 | ||||||
TPG RE Finance Trust, Inc. | 91,270 | 1,022,224 | ||||||
UMH Properties, Inc. | 57,223 | 1,096,965 | ||||||
Uniti Group, Inc. | 295,200 | 3,256,056 | ||||||
Universal Health Realty Income Trust | 19,651 | 1,331,945 | ||||||
Urban Edge Properties | 176,708 | 2,919,216 | ||||||
Urstadt Biddle Properties, Inc., Class A | 46,471 | 773,742 | ||||||
Washington Real Estate Investment Trust | 136,606 | 3,018,993 | ||||||
Western Asset Mortgage Capital Corp. | 86,892 | 277,185 | ||||||
Whitestone REIT | 63,460 | 615,562 | ||||||
Xenia Hotels & Resorts, Inc. | 171,661 | 3,347,390 | ||||||
|
| |||||||
242,770,446 | ||||||||
Real Estate Management & Development — 0.1% |
| |||||||
Alset EHome International, Inc.(a)(b) | 3,270 | 37,834 | ||||||
American Realty Investors, Inc.(a) | 3,807 | 33,616 | ||||||
Bluegreen Vacations Holding Corp.(a) | 21,180 | 392,677 | ||||||
CorePoint Lodging, Inc. | 63,254 | 571,184 | ||||||
Fathom Holdings, Inc.(a)(b) | 7,107 | 260,330 | ||||||
Forestar Group, Inc.(a) | 25,815 | 600,973 | ||||||
Maui Land & Pineapple Co., Inc.(a)(b) | 11,000 | 127,050 | ||||||
Rafael Holdings, Inc., Class B(a) | 14,112 | 563,351 | ||||||
Transcontinental Realty Investors, Inc.(a) | 2,104 | 45,278 | ||||||
Vidler Water Resouces, Inc.(a)(b) | 14,026 | 124,831 | ||||||
|
| |||||||
2,757,124 | ||||||||
Recreational Vehicles & Boats — 0.3% | ||||||||
Camping World Holdings, Inc., Class A | 49,791 | 1,811,397 | ||||||
LCI Industries | 37,397 | 4,946,875 | ||||||
Malibu Boats, Inc., Class A(a) | 31,562 | 2,514,860 | ||||||
Marine Products Corp. | 12,431 | 202,252 | ||||||
MasterCraft Boat Holdings, Inc.(a) | 28,157 | 748,695 | ||||||
Winnebago Industries, Inc. | 47,325 | 3,630,301 | ||||||
|
| |||||||
13,854,380 | ||||||||
Rental & Leasing Services: Consumer — 0.4% |
| |||||||
Avis Budget Group, Inc.(a) | 79,909 | 5,796,599 | ||||||
Rent-A-Center, Inc. | 76,633 | 4,418,659 | ||||||
WillScot Mobile Mini Holdings Corp.(a)(b) | 269,584 | 7,480,956 | ||||||
|
| |||||||
17,696,214 | ||||||||
Restaurants — 1.4% | ||||||||
Biglari Holdings, Inc., Class B(a) | 1,622 | 215,337 | ||||||
BJ’s Restaurants, Inc.(a) | 33,625 | 1,952,940 | ||||||
Bloomin’ Brands, Inc. | 139,189 | 3,765,062 | ||||||
Brinker International, Inc. | 70,134 | 4,983,722 | ||||||
Carrols Restaurant Group, Inc.(a) | 50,844 | 304,301 | ||||||
Cheesecake Factory, Inc. | 64,551 | 3,776,879 | ||||||
Cracker Barrel Old Country Store, Inc. | 36,060 | 6,234,053 | ||||||
Dave & Buster’s Entertainment, Inc.(a) | 70,625 | 3,382,937 | ||||||
Del Taco Restaurants, Inc. | 41,933 | 401,718 | ||||||
Denny’s Corp.(a)(b) | 102,838 | 1,862,396 | ||||||
Dine Brands Global, Inc. | 23,622 | 2,126,689 | ||||||
El Pollo Loco Holdings, Inc.(a) | 27,176 | 438,077 | ||||||
Fiesta Restaurant Group, Inc.(a) | 26,448 | 332,980 |
SERIES SCHEDULE OF INVESTMENTS | 17 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Restaurants (continued) | ||||||||
Jack in the Box, Inc. | 34,861 | $ | 3,827,041 | |||||
Kura Sushi USA, Inc., Class A(a)(b) | 5,130 | 162,313 | ||||||
Nathan’s Famous, Inc. | 4,875 | 307,564 | ||||||
Noodles & Co.(a) | 49,070 | 507,875 | ||||||
Papa John’s International, Inc. | 49,657 | 4,401,596 | ||||||
Red Robin Gourmet Burgers, Inc.(a) | 23,276 | 928,480 | ||||||
Ruth’s Hospitality Group, Inc. | 49,520 | 1,229,582 | ||||||
Shake Shack, Inc., Class A(a) | 54,807 | 6,180,585 | ||||||
Texas Roadhouse, Inc. | 101,532 | 9,740,980 | ||||||
Wingstop, Inc. | 46,287 | 5,886,318 | ||||||
|
| |||||||
62,949,425 | ||||||||
Scientific Instruments: Control & Filter — 0.7% |
| |||||||
Arlo Technologies, Inc.(a) | 121,287 | 761,682 | ||||||
Brady Corp., Class A | 73,988 | 3,954,659 | ||||||
CIRCOR International, Inc.(a) | 29,639 | 1,032,030 | ||||||
Energy Recovery, Inc.(a)(b) | 62,036 | 1,137,740 | ||||||
ESCO Technologies, Inc. | 39,846 | 4,338,831 | ||||||
Gorman-Rupp Co. | 26,829 | 888,308 | ||||||
Helios Technologies, Inc. | 47,299 | 3,446,678 | ||||||
Napco Security Technologies, Inc.(a) | 20,827 | 725,404 | ||||||
Resideo Technologies, Inc.(a) | 223,374 | 6,310,316 | ||||||
Thermon Group Holdings, Inc.(a) | 50,449 | 983,251 | ||||||
Watts Water Technologies, Inc., Class A | 42,674 | 5,070,098 | ||||||
Wrap Technologies, Inc.(a) | 20,387 | 113,352 | ||||||
|
| |||||||
28,762,349 | ||||||||
Scientific Instruments: Electrical — 0.6% |
| |||||||
Allied Motion Technologies, Inc. | 11,771 | 604,206 | ||||||
Atkore, Inc.(a) | 71,041 | 5,107,848 | ||||||
AZZ, Inc. | 38,572 | 1,942,100 | ||||||
EnerSys | 65,675 | 5,963,290 | ||||||
Franklin Electric Co., Inc. | 70,216 | 5,542,851 | ||||||
Orion Energy Systems, Inc.(a) | 44,492 | 309,664 | ||||||
Preformed Line Products Co. | 4,580 | 314,875 | ||||||
Ultralife Corp.(a) | 13,292 | 110,058 | ||||||
WESCO International, Inc.(a) | 74,534 | 6,449,427 | ||||||
|
| |||||||
26,344,319 | ||||||||
Scientific Instruments: Gauges & Meters — 0.4% |
| |||||||
Badger Meter, Inc. | 44,358 | 4,128,399 | ||||||
FARO Technologies, Inc.(a)(b) | 26,826 | 2,322,327 | ||||||
Itron, Inc.(a) | 68,750 | 6,094,688 | ||||||
Luna Innovations, Inc.(a) | 44,281 | 466,279 | ||||||
Mesa Laboratories, Inc. | 7,312 | 1,780,472 | ||||||
Transcat, Inc.(a) | 10,356 | 508,272 | ||||||
Vishay Precision Group, Inc.(a) | 19,811 | 610,377 | ||||||
|
| |||||||
15,910,814 | ||||||||
Scientific Instruments: Pollution Control — 0.7% |
| |||||||
CECO Environmental Corp.(a) | 50,515 | 400,584 | ||||||
Covanta Holding Corp. | 192,688 | 2,670,656 | ||||||
Darling Ingredients, Inc.(a) | 248,831 | 18,308,985 | ||||||
Evoqua Water Technologies Corp.(a) | 181,161 | 4,764,534 | ||||||
Heritage-Crystal Clean, Inc.(a) | 23,588 | 639,942 | ||||||
Sharps Compliance Corp.(a) | 23,152 | 332,694 | ||||||
Team, Inc.(a) | 44,286 | 510,618 | ||||||
US Ecology, Inc.(a) | 48,476 | 2,018,541 | ||||||
|
| |||||||
29,646,554 | ||||||||
Securities Brokerage & Services — 0.1% |
| |||||||
BGC Partners, Inc., Class A | 469,658 | 2,268,448 |
Security | Shares | Value | ||||||
Securities Brokerage & Services (continued) | ||||||||
Siebert Financial Corp.(a) | 12,682 | $ | 51,362 | |||||
StoneX Group, Inc.(a) | 25,339 | 1,656,664 | ||||||
|
| |||||||
3,976,474 | ||||||||
Semiconductors & Components — 1.8% |
| |||||||
Alpha & Omega Semiconductor Ltd.(a) | 32,249 | 1,054,542 | ||||||
Amkor Technology, Inc. | 151,787 | 3,598,870 | ||||||
Atomera, Inc.(a)(b) | 27,098 | 663,901 | ||||||
AXT, Inc.(a) | 60,435 | 704,672 | ||||||
CEVA, Inc.(a) | 33,442 | 1,877,768 | ||||||
CMC Materials, Inc. | 45,121 | 7,976,942 | ||||||
Diodes, Inc.(a) | 67,430 | 5,383,611 | ||||||
DSP Group, Inc.(a) | 36,248 | 516,534 | ||||||
FormFactor, Inc.(a) | 121,216 | 5,468,054 | ||||||
Lattice Semiconductor Corp.(a)(b) | 210,426 | 9,473,378 | ||||||
MACOM Technology Solutions Holdings, Inc.(a) | 75,998 | 4,409,404 | ||||||
MaxLinear, Inc.(a) | 109,462 | 3,730,465 | ||||||
Pixelworks, Inc.(a) | 119,012 | 393,930 | ||||||
Power Integrations, Inc. | 91,647 | 7,467,398 | ||||||
Rambus, Inc.(a) | 172,702 | 3,357,327 | ||||||
Semtech Corp.(a) | 98,061 | 6,766,209 | ||||||
Silicon Laboratories, Inc.(a) | 67,066 | 9,461,001 | ||||||
SiTime Corp.(a) | 17,669 | 1,742,163 | ||||||
SMART Global Holdings, Inc.(a) | 21,931 | 1,009,265 | ||||||
Vishay Intertechnology, Inc. | 209,067 | 5,034,333 | ||||||
|
| |||||||
80,089,767 | ||||||||
Semiconductors & Semiconductor Equipment — 0.1% |
| |||||||
Ambarella, Inc.(a) | 51,301 | 5,150,107 | ||||||
|
| |||||||
Shipping — 0.4% | ||||||||
A-Mark Precious Metals, Inc. | 7,684 | 276,624 | ||||||
Diamond S Shipping, Inc.(a) | 40,314 | 404,349 | ||||||
Eagle Bulk Shipping, Inc.(a)(b) | 9,716 | 350,942 | ||||||
Eneti, Inc. | 12,075 | 253,937 | ||||||
Genco Shipping & Trading Ltd. | 25,634 | 258,391 | ||||||
Golar LNG Ltd.(a) | 171,024 | 1,749,576 | ||||||
International Seaways, Inc. | 35,341 | 684,909 | ||||||
Matson, Inc. | 64,656 | 4,312,555 | ||||||
Nordic American Tankers Ltd. | 225,308 | 732,251 | ||||||
Safe Bulkers, Inc.(a) | 83,629 | 204,891 | ||||||
Scorpio Tankers, Inc. | 76,924 | 1,420,017 | ||||||
SFL Corp. Ltd. | 140,987 | 1,130,716 | ||||||
SITE Centers Corp. | 233,007 | 3,159,575 | ||||||
Tidewater, Inc.(a) | 67,412 | 844,672 | ||||||
Two Harbors Investment Corp. | 413,173 | 3,028,558 | ||||||
|
| |||||||
18,811,963 | ||||||||
Software — 0.2% | ||||||||
Cognyte Software Ltd.(b) | 98,853 | 2,749,102 | ||||||
Model N, Inc.(b) | 53,164 | 1,872,968 | ||||||
Park City Group, Inc.(b) | 16,180 | 98,860 | ||||||
Qualys, Inc. | 51,658 | 5,412,725 | ||||||
|
| |||||||
10,133,655 | ||||||||
Specialty Retail — 2.9% | ||||||||
1-800-Flowers.com, Inc., Class A(a) | 38,832 | 1,072,152 | ||||||
Aaron’s Co., Inc. | 50,555 | 1,298,252 | ||||||
Abercrombie & Fitch Co., Class A | 99,653 | 3,419,094 | ||||||
Academy Sports & Outdoors, Inc.(a)(b) | 46,040 | 1,242,620 | ||||||
Alta Equipment Group, Inc.(a) | 25,535 | 331,955 | ||||||
American Eagle Outfitters, Inc. | 234,853 | 6,867,102 | ||||||
America’s Car-Mart, Inc.(a)(b) | 9,390 | 1,430,754 | ||||||
Asbury Automotive Group, Inc.(a)(b) | 29,268 | 5,751,162 |
18 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
At Home Group, Inc.(a)(b) | 82,054 | $ | 2,354,950 | |||||
Bed Bath & Beyond, Inc. | 190,287 | 5,546,866 | ||||||
Boot Barn Holdings, Inc.(a) | 43,409 | 2,704,815 | ||||||
Buckle, Inc. | 44,307 | 1,740,379 | ||||||
Caleres, Inc. | 53,819 | 1,173,254 | ||||||
Cato Corp., Class A | 31,728 | 380,736 | ||||||
Chico’s FAS, Inc. | 182,679 | 604,667 | ||||||
Children’s Place, Inc.(a) | 21,134 | 1,473,040 | ||||||
Citi Trends, Inc. | 14,379 | 1,204,673 | ||||||
Conn’s, Inc.(a) | 24,956 | 485,394 | ||||||
Container Store Group, Inc.(a)(b) | 47,106 | 783,844 | ||||||
Designer Brands, Inc., Class A | 93,680 | 1,630,032 | ||||||
Envela Corp.(a) | 14,164 | 71,103 | ||||||
Express, Inc.(a)(b) | 93,352 | 375,275 | ||||||
GameStop Corp., Class A(a)(b) | 88,433 | 16,786,352 | ||||||
Genesco, Inc.(a) | 22,064 | 1,048,040 | ||||||
Group 1 Automotive, Inc. | 27,558 | 4,348,377 | ||||||
Guess?, Inc. | 60,371 | 1,418,719 | ||||||
Haverty Furniture Cos., Inc. | 24,812 | 922,758 | ||||||
Hibbett Sports, Inc.(a) | 25,072 | 1,727,210 | ||||||
Lands’ End, Inc.(a) | 17,536 | 435,068 | ||||||
Lithia Motors, Inc., Class A | 40,120 | 15,650,411 | ||||||
Lumber Liquidators Holdings, Inc.(a) | 43,286 | 1,087,344 | ||||||
MarineMax, Inc.(a)(b) | 31,838 | 1,571,524 | ||||||
Michaels Cos., Inc.(a) | 113,884 | 2,498,615 | ||||||
Monro, Inc. | 49,843 | 3,279,669 | ||||||
Murphy USA, Inc. | 39,039 | 5,643,478 | ||||||
National Vision Holdings, Inc.(a)(b) | 125,895 | 5,517,978 | ||||||
ODP Corp. | 80,327 | 3,477,356 | ||||||
OneWater Marine, Inc., Class A(a) | 14,774 | 590,369 | ||||||
RealReal, Inc.(a)(b) | 96,680 | 2,187,868 | ||||||
Regis Corp.(a) | 35,144 | 441,409 | ||||||
Sally Beauty Holdings, Inc.(a) | 171,305 | 3,448,370 | ||||||
Shoe Carnival, Inc. | 14,313 | 885,688 | ||||||
Sonic Automotive, Inc., Class A | 35,506 | 1,760,032 | ||||||
Sportsman’s Warehouse Holdings, Inc.(a) | 73,975 | 1,275,329 | ||||||
Stamps.com, Inc.(a) | 26,672 | 5,321,331 | ||||||
Systemax, Inc. | 19,080 | 784,570 | ||||||
Tilly’s, Inc., Class A(a) | 36,062 | 408,222 | ||||||
Urban Outfitters, Inc.(a) | 104,754 | 3,895,801 | ||||||
Zumiez, Inc.(a)(b) | 31,327 | 1,343,928 | ||||||
|
| |||||||
129,697,935 | ||||||||
Steel — 0.5% | ||||||||
Allegheny Technologies, Inc.(a) | 201,082 | 4,234,787 | ||||||
Carpenter Technology Corp. | 72,421 | 2,980,124 | ||||||
Olympic Steel, Inc. | 14,995 | 441,603 | ||||||
Ryerson Holding Corp.(a) | 24,661 | 420,223 | ||||||
Schnitzer Steel Industries, Inc., Class A | 42,788 | 1,788,110 | ||||||
TimkenSteel Corp.(a)(b) | 69,113 | 812,078 | ||||||
United States Steel Corp. | 402,622 | 10,536,618 | ||||||
|
| |||||||
21,213,543 | ||||||||
Technology: Miscellaneous — 0.3% | ||||||||
Benchmark Electronics, Inc. | 54,239 | 1,677,070 | ||||||
CTS Corp. | 48,687 | 1,512,218 | ||||||
Fabrinet(a) | 57,735 | 5,218,667 | ||||||
Kimball Electronics, Inc.(a) | 36,993 | 954,419 | ||||||
Plexus Corp.(a) | 43,133 | 3,961,335 | ||||||
|
| |||||||
13,323,709 | ||||||||
Telecommunications Equipment — 0.3% | ||||||||
Akoustis Technologies, Inc.(b) | 54,291 | 724,242 |
Security | Shares | Value | ||||||
Telecommunications Equipment (continued) | ||||||||
Applied Optoelectronics, Inc.(b) | 31,447 | $ | 262,897 | |||||
CalAmp Corp. | 52,331 | 567,791 | ||||||
Cambium Networks Corp.(b) | 11,965 | 559,005 | ||||||
Clearfield, Inc.(b) | 17,213 | 518,628 | ||||||
Knowles Corp.(b) | 132,645 | 2,774,934 | ||||||
Viavi Solutions, Inc. | 357,806 | 5,617,554 | ||||||
Vocera Communications, Inc. | 49,016 | 1,885,155 | ||||||
|
| |||||||
12,910,206 | ||||||||
Textile Products — 0.0% | ||||||||
Interface, Inc. | 87,070 | 1,086,634 | ||||||
Unifi, Inc.(a) | 21,341 | 588,158 | ||||||
|
| |||||||
1,674,792 | ||||||||
Textiles Apparel & Shoes — 1.0% | ||||||||
Crocs, Inc.(a) | 103,533 | 8,329,230 | ||||||
Deckers Outdoor Corp.(a) | 43,139 | 14,253,988 | ||||||
Fossil Group, Inc.(a) | 71,549 | 887,207 | ||||||
G-III Apparel Group Ltd.(a) | 66,829 | 2,014,226 | ||||||
Kontoor Brands, Inc. | 78,267 | 3,798,297 | ||||||
Lakeland Industries, Inc.(a) | 11,093 | 309,051 | ||||||
Oxford Industries, Inc. | 25,042 | 2,189,172 | ||||||
Rocky Brands, Inc. | 10,512 | 568,279 | ||||||
Steven Madden Ltd. | 129,577 | 4,828,039 | ||||||
Superior Group of Cos., Inc. | 17,077 | 434,097 | ||||||
Vera Bradley, Inc.(a) | 30,127 | 304,283 | ||||||
Weyco Group, Inc. | 10,263 | 221,989 | ||||||
Wolverine World Wide, Inc. | 122,846 | 4,707,459 | ||||||
|
| |||||||
42,845,317 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
Greenlane Holdings, Inc., Class A(a)(b) | 13,787 | 73,140 | ||||||
Partners Bancorp | 11,079 | 80,987 | ||||||
Turning Point Brands, Inc. | 17,981 | 938,069 | ||||||
Universal Corp. | 36,971 | 2,180,919 | ||||||
Vector Group Ltd. | 224,543 | 3,132,375 | ||||||
|
| |||||||
6,405,490 | ||||||||
Toys — 0.0% | ||||||||
Funko, Inc., Class A(a) | 36,987 | 727,904 | ||||||
|
| |||||||
Transportation Miscellaneous — 0.2% | ||||||||
Costamare, Inc. | 76,637 | 737,248 | ||||||
Echo Global Logistics, Inc.(a) | 41,046 | 1,289,255 | ||||||
General Finance Corp.(a) | 18,632 | 226,379 | ||||||
Hub Group, Inc., Class A(a) | 52,410 | 3,526,145 | ||||||
Textainer Group Holdings Ltd.(a)(b) | 80,205 | 2,297,873 | ||||||
|
| |||||||
8,076,900 | ||||||||
Truckers — 0.6% | ||||||||
ArcBest Corp. | 38,425 | 2,703,967 | ||||||
Covenant Logistics Group, Inc., Class A(a) | 24,325 | 500,852 | ||||||
Daseke, Inc.(a)(b) | 70,869 | 601,678 | ||||||
Forward Air Corp. | 43,441 | 3,857,995 | ||||||
FRP Holdings, Inc.(a) | 10,729 | 528,081 | ||||||
Heartland Express, Inc. | 71,615 | 1,402,222 | ||||||
Marten Transport Ltd. | 89,906 | 1,525,705 | ||||||
PAM Transportation Services, Inc.(a) | 3,247 | 200,340 | ||||||
Saia, Inc.(a) | 40,718 | 9,388,757 | ||||||
Universal Logistics Holdings, Inc. | 12,578 | 330,927 | ||||||
US Xpress Enterprises, Inc., Class A(a) | 35,947 | 422,377 | ||||||
Werner Enterprises, Inc. | 94,671 | 4,465,631 | ||||||
|
| |||||||
25,928,532 | ||||||||
Utilities: Electrical — 1.3% | ||||||||
ALLETE, Inc. | 81,372 | 5,467,385 |
SERIES SCHEDULE OF INVESTMENTS | 19 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Utilities: Electrical (continued) | ||||||||
Atlantic Power Corp.(a) | 128,069 | $ | 370,120 | |||||
Avista Corp. | 106,375 | 5,079,406 | ||||||
Black Hills Corp. | 97,581 | 6,515,483 | ||||||
Brookfield Renewable Corp., Class A | 198,453 | 9,287,600 | ||||||
Clearway Energy, Inc., Class A | 60,105 | 1,593,384 | ||||||
Clearway Energy, Inc., Class C | 123,629 | 3,478,920 | ||||||
Genie Energy Ltd., Class B | 23,758 | 150,626 | ||||||
MGE Energy, Inc. | 55,660 | 3,973,567 | ||||||
NorthWestern Corp. | 78,901 | 5,144,345 | ||||||
Otter Tail Corp. | 61,581 | 2,843,195 | ||||||
PNM Resources, Inc. | 132,486 | 6,498,438 | ||||||
Portland General Electric Co. | 136,227 | 6,466,696 | ||||||
Spark Energy, Inc., Class A | 18,805 | 200,837 | ||||||
Unitil Corp. | 22,126 | 1,010,937 | ||||||
|
| |||||||
58,080,939 | ||||||||
Utilities: Gas Distributors — 0.6% | ||||||||
Chesapeake Utilities Corp. | 26,238 | 3,045,707 | ||||||
New Jersey Resources Corp. | 148,661 | 5,927,114 | ||||||
Northwest Natural Holding Co. | 49,498 | 2,670,417 | ||||||
RGC Resources, Inc. | 12,025 | 266,715 | ||||||
South Jersey Industries, Inc. | 153,314 | 3,461,830 | ||||||
Southwest Gas Holdings, Inc. | 88,271 | 6,065,100 | ||||||
Spire, Inc. | 76,184 | 5,629,236 | ||||||
|
| |||||||
27,066,119 | ||||||||
Utilities: Miscellaneous — 0.2% | ||||||||
Brookfield Infrastructure Corp., Class A | 48,267 | 3,686,151 | ||||||
Ormat Technologies, Inc. | 68,530 | 5,381,661 | ||||||
|
| |||||||
9,067,812 | ||||||||
Utilities: Telecommunications — 0.9% | ||||||||
8x8, Inc.(a) | 167,332 | 5,428,250 | ||||||
Alaska Communications Systems Group, Inc. | 73,759 | 239,717 | ||||||
ATN International, Inc. | 16,240 | 797,709 | ||||||
Boingo Wireless, Inc.(a) | 65,102 | 915,985 | ||||||
Cincinnati Bell, Inc.(a) | 79,483 | 1,220,064 | ||||||
Cogent Communications Holdings, Inc. | 66,679 | 4,584,848 | ||||||
Consolidated Communications Holdings, Inc.(a) | 111,749 | 804,593 | ||||||
GTT Communications, Inc.(a)(b) | 39,924 | 73,061 | ||||||
IDT Corp., Class B(a) | 36,873 | 835,542 | ||||||
Iridium Communications, Inc.(a) | 185,700 | 7,660,125 | ||||||
j2 Global, Inc.(a) | 67,118 | 8,044,763 | ||||||
ORBCOMM, Inc.(a) | 113,906 | 869,103 | ||||||
Shenandoah Telecommunications Co. | 73,497 | 3,587,389 | ||||||
Spok Holdings, Inc. | 28,026 | 293,993 | ||||||
Vonage Holdings Corp.(a)(b) | 371,498 | 4,391,106 | ||||||
|
| |||||||
39,746,248 | ||||||||
Utilities: Water — 0.4% | ||||||||
American States Water Co. | 55,965 | 4,232,073 |
Security | Shares | Value | ||||||
Utilities: Water (continued) | ||||||||
Artesian Resources Corp., Class A | 13,005 | $ | 512,137 | |||||
California Water Service Group | 78,200 | 4,405,788 | ||||||
Consolidated Water Co. Ltd. | 21,815 | 293,412 | ||||||
Global Water Resources, Inc. | 19,411 | 316,594 | ||||||
Middlesex Water Co. | 26,020 | 2,056,100 | ||||||
Pure Cycle Corp.(a)(b) | 31,022 | 416,315 | ||||||
SJW Group | 42,757 | 2,693,264 | ||||||
York Water Co. | 20,459 | 1,001,877 | ||||||
|
| |||||||
15,927,560 | ||||||||
|
| |||||||
Total Common Stocks — 98.9% |
| 4,371,112,487 | ||||||
|
| |||||||
Investment Companies | ||||||||
Equity Funds — 0.6% iShares Russell 2000 ETF(b)(e) | 126,588 | 27,968,353 | ||||||
|
| |||||||
Total Investment Companies — 0.6% |
| 27,968,353 | ||||||
|
| |||||||
Total Long-Term Investments —99.5% |
| 4,399,080,840 | ||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 8.0% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.14%(e)(f)(g) | 294,597,942 | 294,774,701 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.02%(e)(f) | 60,033,952 | 60,033,952 | ||||||
|
| |||||||
Total Short-Term Securities —8.0% |
| 354,808,653 | ||||||
|
| |||||||
Total Investments — 107.5% |
| 4,753,889,493 | ||||||
Liabilities in Excess of Other Assets — (7.5)% |
| (332,817,315 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 4,421,072,178 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(e) | Affiliate of the Series. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
For Series compliance purposes, the Series’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
20 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series |
Affiliates
Investments in issuers considered to be affiliate(s) of the Series during the period ended March 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 12/31/20 | Purchases at Cost | Proceeds from Sales | Net Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/21 | Shares Held at | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 294,236,196 | $ | 538,506 | (a) | $ | — | $ | 34,473 | $ | (34,474 | ) | $ | 294,774,701 | 294,597,942 | $ | 526,567 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 14,601,134 | 45,432,818 | (a) | — | — | — | 60,033,952 | 60,033,952 | 2,042 | — | ||||||||||||||||||||||||||
iShares Russell 2000 ETF | 8,597,035 | 77,925,517 | (61,359,198 | ) | 1,746,781 | 1,058,218 | 27,968,353 | 126,588 | 64,317 | — | ||||||||||||||||||||||||||
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| |||||||||||||||||||||||||||
$ | 1,781,254 | $ | 1,023,744 | $ | 382,777,006 | $ | 592,926 | $ | — | |||||||||||||||||||||||||||
|
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(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| ||||||||||||||||
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ (Depreciation) | ||||||||||||
| ||||||||||||||||
Long Contracts | ||||||||||||||||
Russell 2000 E-Mini Index | 323 | 06/18/21 | $ | 35,893 | $ | (1,928,526 | ) | |||||||||
|
|
OTC Total Return Swaps
| ||||||||||||||||||||||||
Reference Entity | Payment Frequency | Counterparty(a) | Termination Date | Net Notional | Accrued Unrealized Appreciation (Depreciation) | Net Value of Reference Entity | Gross Notional Amount Net Asset Percentage | |||||||||||||||||
| ||||||||||||||||||||||||
Equity Securities Long | Monthly | Goldman Sachs Bank USA(b) | 02/27/23 | $ | 350,662 | $ | (27,751 | )(c) | $ | 321,899 | 0.0 | %(d) | ||||||||||||
Monthly | HSBC Bank PLC(e) | 02/10/23 | 955,748 | (23,279 | )(f) | 932,240 | 0.0 | (d) | ||||||||||||||||
Monthly | JPMorgan Chase Bank N.A.(g) | 02/08/23 | 496,625 | (1,968 | )(h) | 492,825 | 0.0 | (d) | ||||||||||||||||
|
|
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| |||||||||||||||||||||
$ | (52,998 | ) | $ | 1,746,964 | ||||||||||||||||||||
|
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|
|
(a) | The Series receives the total return on a portfolio of long positions underlying the total return swap. The Series pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Series pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. |
(c) | Amount includes $1,012 of net dividends and financing fees. |
(d) | Rounds to less than 0.1%. |
(f) | Amount includes $229 of net dividends and financing fees. |
(h) | Amount includes $1,832 of net dividends and financing fees. |
The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:
(b) | (e) | (g) | ||||
Range: | 65 basis points | 65 basis points | 65 basis points | |||
Benchmarks: | USD - 1M US Dollar LIBOR BBA | USD - 1M US Dollar LIBOR BBA | USD - 1M US Dollar LIBOR BBA |
SERIES SCHEDULE OF INVESTMENTS | 21 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series |
The following table represents the individual long positions and related values of the equity securities underlying the total return swap with Goldman Sachs Bank USA as of period end, termination date February 27, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Banks: Diversified | ||||||||||||
Central Pacific Financial Corp. | 277 | $ | 7,390 | 2.3 | % | |||||||
Hanmi Financial Corp. | 3,913 | 77,204 | 24.0 | |||||||||
|
|
|
| |||||||||
84,594 | ||||||||||||
Banks: Savings, Thrift & Mortgage Lending | ||||||||||||
Homestreet, Inc. | 2,701 | 119,033 | 37.0 | |||||||||
|
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|
| |||||||||
Commercial Services & Supplies | ||||||||||||
Vidler Water Resouces, Inc. | 13,289 | 118,272 | 36.7 | |||||||||
|
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|
| |||||||||
Net Value of Reference Entity — Goldman Sachs Bank USA | $ | 321,899 | ||||||||||
|
|
The following table represents the individual long positions and related values of the equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 10, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Banks: Diversified | ||||||||||||
Customers Bancorp, Inc. | 8,804 | $ | 280,143 | 30.0 | % | |||||||
Hope Bancorp, Inc. | 5,357 | 80,676 | 8.7 | |||||||||
Preferred Bank | 1,394 | 88,770 | 9.5 | |||||||||
|
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| |||||||||
449,589 | ||||||||||||
Banks: Savings, Thrift & Mortgage Lending | ||||||||||||
Berkshire Hills Bancorp, Inc. | 1,918 | 42,810 | 4.6 | |||||||||
|
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| |||||||||
Health Care Management Services | ||||||||||||
Magellan Health, Inc. | 613 | 57,156 | 6.2 | |||||||||
|
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| |||||||||
Oil: Refining & Marketing | ||||||||||||
Renewable Energy Group, Inc. | 5,072 | 334,955 | 35.9 | |||||||||
|
|
|
| |||||||||
Pharmaceuticals | ||||||||||||
Spectrum Pharmaceuticals, Inc. | 14,641 | 47,730 | 5.1 | |||||||||
|
|
|
| |||||||||
Net Value of Reference Entity — HSBC Bank PLC | $ | 932,240 | ||||||||||
|
|
The following table represents the individual long positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of period end, termination date February 8, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Banks: Diversified | ||||||||||||
Banner Corp. | 131 | $ | 6,986 | 1.4 | % | |||||||
Central Pacific Financial Corp. | 6,077 | 162,134 | 32.9 | |||||||||
Hanmi Financial Corp. | 7,638 | 150,698 | 30.6 | |||||||||
United Community Banks, Inc. | 908 | 30,981 | 6.3 | |||||||||
|
|
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| |||||||||
350,799 | ||||||||||||
Insurance: Property-Casualty | ||||||||||||
ProAssurance Corp. | 2,114 | 56,571 | 11.5 | |||||||||
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| |||||||||
Leisure Time | ||||||||||||
Clarus Corp. | 5,012 | 85,455 | 17.3 | |||||||||
|
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| |||||||||
Net Value of Reference Entity — JPMorgan Chase Bank N.A. | $ | 492,825 | ||||||||||
|
|
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Series has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
22 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series |
Fair Value Hierarchy as of Period End (continued)
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Series’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Series’s investments categorized in the fair value hierarchy. The breakdown of the Series’s investments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Advertising Agencies | $ | 13,267,919 | $ | — | $ | — | $ | 13,267,919 | ||||||||
Aerospace | 39,808,341 | — | — | 39,808,341 | ||||||||||||
Agriculture, Fishing & Ranching | 15,609,039 | — | — | 15,609,039 | ||||||||||||
Air Transport | 22,527,939 | — | — | 22,527,939 | ||||||||||||
Alternative Energy | 8,774,285 | — | — | 8,774,285 | ||||||||||||
Aluminum | 17,576,014 | — | — | 17,576,014 | ||||||||||||
Asset Management & Custodian | 36,756,648 | — | — | 36,756,648 | ||||||||||||
Auto Parts | 45,556,154 | — | — | 45,556,154 | ||||||||||||
Auto Services | 10,800,836 | — | — | 10,800,836 | ||||||||||||
Back Office Support, HR & Consulting | 62,645,135 | — | — | 62,645,135 | ||||||||||||
Banks: Diversified | 360,565,792 | — | — | 360,565,792 | ||||||||||||
Banks: Savings, Thrift & Mortgage Lending | 50,379,059 | — | — | 50,379,059 | ||||||||||||
Beverage: Soft Drinks | 11,013,213 | — | — | 11,013,213 | ||||||||||||
Biotechnology | 416,578,125 | — | 67,794 | 416,645,919 | ||||||||||||
Building Materials | 55,723,075 | — | — | 55,723,075 | ||||||||||||
Building: Climate Control | 8,626,260 | — | — | 8,626,260 | ||||||||||||
Building: Roofing, Wallboard & Plumbing | 8,223,925 | — | — | 8,223,925 | ||||||||||||
Cable Television Services | 7,479,444 | — | — | 7,479,444 | ||||||||||||
Casinos & Gambling | 65,547,421 | — | — | 65,547,421 | ||||||||||||
Cement | 2,223,087 | — | — | 2,223,087 | ||||||||||||
Chemicals: Diversified | 26,234,385 | — | — | 26,234,385 | ||||||||||||
Chemicals: Specialty | 35,291,230 | — | — | 35,291,230 | ||||||||||||
Coal | 2,983,304 | — | — | 2,983,304 | ||||||||||||
Commercial Banks | 2,219,176 | — | — | 2,219,176 | ||||||||||||
Commercial Finance & Mortgage Companies | 14,033,243 | — | — | 14,033,243 | ||||||||||||
Commercial Services & Supplies | 1,189,565 | — | — | 1,189,565 | ||||||||||||
Commercial Services: Rental & Leasing | 36,589,326 | — | — | 36,589,326 | ||||||||||||
Commercial Vehicles & Parts | 15,261,867 | — | — | 15,261,867 | ||||||||||||
Communications Technology | 38,151,762 | — | — | 38,151,762 | ||||||||||||
Computer Services Software & Systems | 282,724,126 | — | — | 282,724,126 | ||||||||||||
Computer Technology | 26,449,965 | 78,970 | — | 26,528,935 | ||||||||||||
Construction | 21,002,652 | — | — | 21,002,652 | ||||||||||||
Consumer Electronics | 8,509,247 | — | — | 8,509,247 | ||||||||||||
Consumer Lending | 25,726,809 | — | — | 25,726,809 | ||||||||||||
Consumer Services: Miscellaneous | 12,548,951 | — | — | 12,548,951 | ||||||||||||
Containers & Packaging | 10,700,433 | — | — | 10,700,433 | ||||||||||||
Cosmetics | 3,935,158 | — | — | 3,935,158 | ||||||||||||
Diversified Financial Services | 37,269,040 | — | — | 37,269,040 | ||||||||||||
Diversified Manufacturing Operations | 22,102,016 | — | — | 22,102,016 | ||||||||||||
Diversified Materials & Processing | 8,429,109 | — | — | 8,429,109 | ||||||||||||
Diversified Media | 1,950,660 | — | — | 1,950,660 | ||||||||||||
Diversified Retail | 36,099,631 | — | — | 36,099,631 | ||||||||||||
Drug & Grocery Store Chains | 5,519,970 | — | — | 5,519,970 |
SERIES SCHEDULE OF INVESTMENTS | 23 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Education Services | $ | 15,885,745 | $ | — | $ | — | $ | 15,885,745 | ||||||||
Electronic Components | 23,985,686 | — | — | 23,985,686 | ||||||||||||
Electronic Entertainment | 3,699,939 | — | — | 3,699,939 | ||||||||||||
Electronics | 24,747,018 | — | — | 24,747,018 | ||||||||||||
Energy Equipment | 45,721,962 | — | — | 45,721,962 | ||||||||||||
Engineering & Contracting Services | 51,739,559 | — | — | 51,739,559 | ||||||||||||
Entertainment | 12,018,573 | — | — | 12,018,573 | ||||||||||||
Environmental, Maintenance, & Security Service | 25,315,123 | — | — | 25,315,123 | ||||||||||||
Financial Data & Systems | 22,397,782 | — | — | 22,397,782 | ||||||||||||
Food & Staples Retailing | 260,126 | — | — | 260,126 | ||||||||||||
Foods | 54,940,703 | — | — | 54,940,703 | ||||||||||||
Forest Products | 10,619,588 | — | — | 10,619,588 | ||||||||||||
Forms & Bulk Printing Services | 3,701,880 | — | — | 3,701,880 | ||||||||||||
Fruit & Grain Processing | 1,149,758 | — | — | 1,149,758 | ||||||||||||
Funeral Parlors & Cemeteries | 8,102,725 | — | — | 8,102,725 | ||||||||||||
Gas Pipeline | 115,894 | — | — | 115,894 | ||||||||||||
Glass | 1,591,908 | — | — | 1,591,908 | ||||||||||||
Gold | 6,957,246 | — | — | 6,957,246 | ||||||||||||
Health Care Equipment & Supplies | 1,465,833 | — | — | 1,465,833 | ||||||||||||
Health Care Facilities | 31,995,938 | — | — | 31,995,938 | ||||||||||||
Health Care Management Services | 13,948,272 | — | — | 13,948,272 | ||||||||||||
Health Care Services | 95,416,568 | — | — | 95,416,568 | ||||||||||||
Health Care: Miscellaneous | 7,060,876 | — | — | 7,060,876 | ||||||||||||
Home Building | 53,101,758 | — | — | 53,101,758 | ||||||||||||
Hotel/Motel | 6,008,700 | — | — | 6,008,700 | ||||||||||||
Household Appliances | 982,995 | — | — | 982,995 | ||||||||||||
Household Equipment & Products | 13,939,654 | — | — | 13,939,654 | ||||||||||||
Household Furnishings | 30,888,249 | — | — | 30,888,249 | ||||||||||||
Insurance: Life | 21,846,755 | — | — | 21,846,755 | ||||||||||||
Insurance: Multi-Line | 18,420,063 | — | — | 18,420,063 | ||||||||||||
Insurance: Property-Casualty | 67,482,418 | — | — | 67,482,418 | ||||||||||||
International Trade & Diversified Logistic | 4,530,629 | — | — | 4,530,629 | ||||||||||||
Internet Software & Services | 5,958,021 | — | — | 5,958,021 | ||||||||||||
Leisure Time | 60,559,419 | — | — | 60,559,419 | ||||||||||||
Life Sciences Tools & Services | 293,975 | — | — | 293,975 | ||||||||||||
Luxury Items | 5,454,007 | — | — | 5,454,007 | ||||||||||||
Machinery: Agricultural | 5,935,401 | — | — | 5,935,401 | ||||||||||||
Machinery: Construction & Handling | 10,113,048 | — | — | 10,113,048 | ||||||||||||
Machinery: Industrial | 64,588,880 | — | — | 64,588,880 | ||||||||||||
Machinery: Specialty | 4,461,221 | — | — | 4,461,221 | ||||||||||||
Manufactured Housing | 6,777,617 | — | — | 6,777,617 | ||||||||||||
Medical & Dental Instruments & Supplies | 97,878,121 | — | — | 97,878,121 | ||||||||||||
Medical Equipment | 65,263,441 | — | — | 65,263,441 | ||||||||||||
Medical Services | 3,948,588 | — | — | 3,948,588 | ||||||||||||
Metal Fabricating | 40,447,577 | — | — | 40,447,577 | ||||||||||||
Metals & Minerals: Diversified | 38,703,570 | — | — | 38,703,570 | ||||||||||||
Office Supplies & Equipment | 17,135,325 | — | — | 17,135,325 | ||||||||||||
Oil & Gas Producers | 1,871,171 | — | — | 1,871,171 | ||||||||||||
Oil Well Equipment & Services | 25,450,812 | — | — | 25,450,812 | ||||||||||||
Oil, Gas & Consumable Fuels | 28,088,411 | — | — | 28,088,411 | ||||||||||||
Oil: Crude Producers | 50,815,404 | — | — | 50,815,404 | ||||||||||||
Oil: Refining & Marketing | 15,697,742 | — | — | 15,697,742 | ||||||||||||
Paints & Coatings | 8,870,769 | — | — | 8,870,769 | ||||||||||||
Paper | 9,443,966 | — | — | 9,443,966 | ||||||||||||
Personal Care | 12,932,546 | — | — | 12,932,546 | ||||||||||||
Pharmaceuticals | 94,390,849 | — | — | 94,390,849 | ||||||||||||
Photography | 2,179,485 | — | — | 2,179,485 | ||||||||||||
Plastics | 3,878,331 | — | — | 3,878,331 | ||||||||||||
Power Transmission Equipment | 9,446,032 | — | — | 9,446,032 | ||||||||||||
Printing & Copying Services | 7,729,375 | — | — | 7,729,375 | ||||||||||||
Producer Durables: Miscellaneous | 428,107 | — | — | 428,107 | ||||||||||||
Production Technology Equipment | 31,692,949 | — | — | 31,692,949 | ||||||||||||
Publishing | 5,638,544 | — | — | 5,638,544 |
24 |
Schedule of Investments (unaudited) (continued) March 31, 2021 | Master Small Cap Index Series |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Radio & TV Broadcasters | $ | 16,547,061 | $ | — | $ | — | $ | 16,547,061 | ||||||||
Railroad Equipment | 2,479,381 | — | — | 2,479,381 | ||||||||||||
Real Estate | 29,676,721 | — | — | 29,676,721 | ||||||||||||
Real Estate Investment Trusts (REITs) | 242,770,446 | — | — | 242,770,446 | ||||||||||||
Real Estate Management & Development | 2,757,124 | — | — | 2,757,124 | ||||||||||||
Recreational Vehicles & Boats | 13,854,380 | — | — | 13,854,380 | ||||||||||||
Rental & Leasing Services: Consumer | 17,696,214 | — | — | 17,696,214 | ||||||||||||
Restaurants | 62,949,425 | — | — | 62,949,425 | ||||||||||||
Scientific Instruments: Control & Filter | 28,762,349 | — | — | 28,762,349 | ||||||||||||
Scientific Instruments: Electrical | 26,344,319 | — | — | 26,344,319 | ||||||||||||
Scientific Instruments: Gauges & Meters | 15,910,814 | — | — | 15,910,814 | ||||||||||||
Scientific Instruments: Pollution Control | 29,646,554 | — | — | 29,646,554 | ||||||||||||
Securities Brokerage & Services | 3,976,474 | — | — | 3,976,474 | ||||||||||||
Semiconductors & Components | 80,089,767 | — | — | 80,089,767 | ||||||||||||
Semiconductors & Semiconductor Equipment | 5,150,107 | — | — | 5,150,107 | ||||||||||||
Shipping | 18,811,963 | — | — | 18,811,963 | ||||||||||||
Software | 10,133,655 | — | — | 10,133,655 | ||||||||||||
Specialty Retail | 129,697,935 | — | — | 129,697,935 | ||||||||||||
Steel | 21,213,543 | — | — | 21,213,543 | ||||||||||||
Technology: Miscellaneous | 13,323,709 | — | — | 13,323,709 | ||||||||||||
Telecommunications Equipment | 12,910,206 | — | — | 12,910,206 | ||||||||||||
Textile Products | 1,674,792 | — | — | 1,674,792 | ||||||||||||
Textiles Apparel & Shoes | 42,845,317 | — | — | 42,845,317 | ||||||||||||
Thrifts & Mortgage Finance | 6,405,490 | — | — | 6,405,490 | ||||||||||||
Toys | 727,904 | — | — | 727,904 | ||||||||||||
Transportation Miscellaneous | 8,076,900 | — | — | 8,076,900 | ||||||||||||
Truckers | 25,928,532 | — | — | 25,928,532 | ||||||||||||
Utilities: Electrical | 58,080,939 | — | — | 58,080,939 | ||||||||||||
Utilities: Gas Distributors | 27,066,119 | — | — | 27,066,119 | ||||||||||||
Utilities: Miscellaneous | 9,067,812 | — | — | 9,067,812 | ||||||||||||
Utilities: Telecommunications | 39,746,248 | — | — | 39,746,248 | ||||||||||||
Utilities: Water | 15,927,560 | — | — | 15,927,560 | ||||||||||||
Investment Companies | 27,968,353 | — | — | 27,968,353 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 354,808,653 | — | — | 354,808,653 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 4,753,742,729 | $ | 78,970 | $ | 67,794 | $ | 4,753,889,493 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (1,928,526 | ) | $ | (52,998 | ) | $ | — | $ | (1,981,524 | ) | |||||
|
|
|
|
|
|
|
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(a) | Derivative financial instruments are swaps and futures contracts. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Portfolio Abbreviation | ||
ETF | Exchange-Traded Fund | |
REIT | Real Estate Investment Trust |
SERIES SCHEDULE OF INVESTMENTS | 25 |