UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number    811-22859  

                         A&Q Masters Fund                         

(Exact name of registrant as specified in charter)

600 Washington Boulevard

                                     Stamford, Connecticut 06901                                    

(Address of principal executive offices) (Zip code)

Keith A. Weller, Esq.

UBS Business Solutions US LLC

One North Wacker Drive

                                             Chicago, IL 60606                                             

(Name and address of agent for service)

Registrant’s telephone number, including area code:   (203)-719-1428

Date of fiscal year end:   March 31

Date of reporting period: July 1, 2020 – June 30, 2021

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant’s proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

PROXY VOTING RECORD

FOR PERIOD JULY 1, 2020 TO JUNE 30, 2021

Issuer of Portfolio Security	Exchange   Ticker   Symbol	CUSIP#	Shareholder Meeting   Date	Summary of Matter Voted On	Who Proposed   Matter:   Issuer/Shareholder	Whether   Fund Cast   Vote on   Matter	Fund’s Vote For or Against Proposal, or Abstain; For or Withhold Regarding Election of Directors	Whether Vote was For or Against Management
Tairen Alpha Fund Limited	N/A	N/A	8/31/2020	Election to participate in future Private Investments	Issuer	Yes	Against	Against
Stamina Fund Ltd	N/A	N/A	11/20/2020	Proposed changes to the Explanatory Memorandum	Issuer	Yes	For	For

SIGNATURES

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

Registrant                                 A&Q Masters Fund                                                                                                   

By (Signature and Title)*     /s/ William Ferri                                                                                                          

                                               William Ferri, Principal Executive Officer

Date                 August 13, 2021                                                                                                                                

*Print the name and title of each signing officer under his or her signature.