NPORT-EX 2 NPORT_0BWX_39639169_0322.htm N-CSR

Transamerica Stock Index

 

SCHEDULE OF INVESTMENTS

At March 31, 2022

(unaudited)

 

            Value  
Master Portfolio - 100.1%

S&P 500 Index Master Portfolio

         $  343,217,722  
     

 

 

  

Total Investments
(Cost $343,217,722)

         343,217,722  

Net Other Assets (Liabilities) - (0.1)%

         (144,733 ) 
     

 

 

  

Net Assets - 100.0%

         $  343,072,989  
     

 

 

  
 

 

Transamerica Funds

     Page    1         

 

NOTES TO SCHEDULE OF INVESTMENTS

At March 31, 2022

(unaudited)

 

INVESTMENT VALUATION

Transamerica Stock Index (the “Fund”) is a series of the Transamerica Funds.

The value of the Fund’s investment in the Master Portfolio, reflected within the Schedule of Investments, displays the Fund’s proportional interest in the net assets of the Master Portfolio. At the period ended March 31, 2022, the Fund held a 1.04% ownership interest in the Master Portfolio.

Information regarding the valuation policy for the underlying securities held by the Master Portfolio is discussed in the Master Portfolio’s Schedule of Investments, which accompany this report.

 

Transamerica Funds

     Page    2         

Schedule of Investments (unaudited)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  

Common Stocks

     
Aerospace & Defense — 1.6%             

Boeing Co.(a)

    466,191      $ 89,275,576  

General Dynamics Corp.

     196,266        47,335,434  

Howmet Aerospace, Inc.

     329,069        11,826,740  

Huntington Ingalls Industries, Inc.

     34,143        6,809,480  

L3Harris Technologies, Inc.

     166,925        41,475,855  

Lockheed Martin Corp.

     205,897        90,882,936  

Northrop Grumman Corp.

     125,140        55,965,111  

Raytheon Technologies Corp.

     1,269,499        125,769,266  

Textron, Inc.(b)

    185,345        13,785,961  

TransDigm Group, Inc.(a)

    44,821        29,202,674  
    

 

 

  
       512,329,033  
Air Freight & Logistics — 0.6%             

CH Robinson Worldwide, Inc.

     109,300        11,772,703  

Expeditors International of Washington, Inc.

     144,109        14,866,285  

FedEx Corp.

     207,372        47,983,807  

United Parcel Service, Inc., Class B

     620,281        133,025,463  
    

 

 

  
       207,648,258  
Airlines(a) — 0.2%             

Alaska Air Group, Inc.

     104,278        6,049,167  

American Airlines Group, Inc.(b)

    546,838        9,979,794  

Delta Air Lines, Inc.

     544,448        21,543,807  

Southwest Airlines Co.

     503,895        23,078,391  

United Airlines Holdings, Inc.(b)

    274,606        12,730,734  
    

 

 

  
       73,381,893  
Auto Components — 0.1%             

Aptiv PLC(a)

    230,235        27,561,432  

BorgWarner, Inc.

     203,548        7,918,017  
    

 

 

  
       35,479,449  
Automobiles — 2.7%             

Ford Motor Co.

     3,346,068        56,582,010  

General Motors Co.(a)

    1,236,058        54,065,177  

Tesla, Inc.(a)

    712,141        767,403,141  
    

 

 

  
       878,050,328  
Banks — 3.8%             

Bank of America Corp.

     6,047,040        249,258,989  

Citigroup, Inc.

     1,688,093        90,144,166  

Citizens Financial Group, Inc.

     365,077        16,548,940  

Comerica, Inc.

     110,277        9,972,349  

Fifth Third Bancorp

     581,811        25,041,145  

First Republic Bank

     152,494        24,719,277  

Huntington Bancshares, Inc.

     1,215,338        17,768,242  

JPMorgan Chase & Co.

     2,513,991        342,707,253  

KeyCorp.

     782,882        17,520,899  

M&T Bank Corp.

     109,183        18,506,519  

People’s United Financial, Inc.

     362,910        7,254,571  

PNC Financial Services Group, Inc.

     357,286        65,901,403  

Regions Financial Corp.

     801,570        17,842,948  

Signature Bank

     53,365        15,662,094  

SVB Financial Group(a)

    49,976        27,959,073  

Truist Financial Corp.

     1,135,568        64,386,706  

U.S. Bancorp

     1,148,795        61,058,454  

Wells Fargo & Co.

     3,305,579        160,188,358  

Zions Bancorp NA

     131,562        8,625,205  
    

 

 

  
       1,241,066,591  
Beverages — 1.5%             

Brown-Forman Corp., Class B

     152,675        10,232,278  

Coca-Cola Co.

     3,307,006        205,034,372  
Security   Shares      Value  
Beverages (continued)             

Constellation Brands, Inc., Class A

     139,800      $ 32,198,736  

Molson Coors Beverage Co., Class B

     161,725        8,632,881  

Monster Beverage Corp.(a)

    319,881        25,558,492  

PepsiCo, Inc.

     1,176,876        196,985,505  
    

 

 

  
       478,642,264  
Biotechnology — 1.9%             

AbbVie, Inc.

     1,503,904        243,797,877  

Amgen, Inc.

     479,160        115,870,471  

Biogen, Inc.(a)

    125,054        26,336,372  

Gilead Sciences, Inc.

     1,067,082        63,438,025  

Incyte Corp.(a)

    161,271        12,808,143  

Moderna, Inc.(a)

    300,071        51,690,231  

Regeneron Pharmaceuticals, Inc.(a)

    90,781        63,403,266  

Vertex Pharmaceuticals, Inc.(a)

    216,564        56,516,707  
    

 

 

  
       633,861,092  
Building Products — 0.4%             

A O Smith Corp.

     112,155        7,165,583  

Allegion PLC

     76,360        8,382,801  

Carrier Global Corp.

     729,501        33,462,211  

Fortune Brands Home & Security, Inc.

     116,636        8,663,722  

Johnson Controls International PLC

     595,912        39,073,950  

Masco Corp.

     205,241        10,467,291  

Trane Technologies PLC

     199,668        30,489,303  
    

 

 

  
       137,704,861  
Capital Markets — 2.9%             

Ameriprise Financial, Inc.

     94,083        28,258,770  

Bank of New York Mellon Corp.

     630,534        31,293,403  

BlackRock, Inc.(c)

    121,293        92,688,472  

Cboe Global Markets, Inc.

     90,101        10,309,357  

Charles Schwab Corp.

     1,278,901        107,824,143  

CME Group, Inc.

     305,732        72,721,414  

FactSet Research Systems, Inc.

     32,382        14,058,645  

Franklin Resources, Inc.

     241,316        6,737,543  

Goldman Sachs Group, Inc.

     288,772        95,323,637  

Intercontinental Exchange, Inc.

     477,957        63,147,679  

Invesco Ltd.

     287,050        6,619,373  

MarketAxess Holdings, Inc.

     32,527        11,065,685  

Moody’s Corp.

     137,583        46,421,880  

Morgan Stanley

     1,205,926        105,397,932  

MSCI, Inc.

     69,386        34,892,832  

Nasdaq, Inc.

     99,577        17,744,621  

Northern Trust Corp.

     176,469        20,549,815  

Raymond James Financial, Inc.

     158,943        17,469,425  

S&P Global, Inc.

     301,304        123,588,875  

State Street Corp.

     311,335        27,123,505  

T Rowe Price Group, Inc.

     193,444        29,246,798  
    

 

 

  
       962,483,804  
Chemicals — 1.7%             

Air Products & Chemicals, Inc.

     188,611        47,135,775  

Albemarle Corp.

     99,057        21,906,456  

Celanese Corp.

     91,544        13,078,891  

CF Industries Holdings, Inc.

     183,713        18,933,462  

Corteva, Inc.

     618,649        35,559,945  

Dow, Inc.

     627,049        39,955,562  

DuPont de Nemours, Inc.

     435,649        32,055,053  

Eastman Chemical Co.

     113,044        12,667,711  

Ecolab, Inc.

     212,086        37,445,904  

FMC Corp.

     107,378        14,127,723  

International Flavors & Fragrances, Inc.

     216,538        28,437,936  

Linde PLC(a)

    436,021        139,278,188  
 

 

 

MASTER  PORTFOLIO  SCHEDULE  OF  INVESTMENTS

   1

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Chemicals (continued)  

LyondellBasell Industries NV, Class A

     224,192      $ 23,051,421  

Mosaic Co.

     316,629        21,055,829  

PPG Industries, Inc.

     201,953        26,469,980  

Sherwin-Williams Co.

     205,202        51,222,523  
    

 

 

  
       562,382,359  
Commercial Services & Supplies — 0.4%  

Cintas Corp.

     75,007        31,907,228  

Copart, Inc.(a)

    181,913        22,824,624  

Republic Services, Inc.

     178,417        23,640,253  

Rollins, Inc.

     192,545        6,748,702  

Waste Management, Inc.

     327,385        51,890,522  
    

 

 

  
       137,011,329  
Communications Equipment — 0.9%  

Arista Networks, Inc.(a)

    191,063        26,553,936  

Cisco Systems, Inc.

     3,587,840        200,057,958  

F5, Inc.(a)

    51,760        10,815,252  

Juniper Networks, Inc.

     278,138        10,335,608  

Motorola Solutions, Inc.

     142,665        34,553,463  
    

 

 

  
       282,316,217  
Construction & Engineering — 0.0%  

Quanta Services, Inc.

     121,221        15,953,896  
    

 

 

  
Construction Materials — 0.1%  

Martin Marietta Materials, Inc.

     52,614        20,250,602  

Vulcan Materials Co.

     112,890        20,737,893  
    

 

 

  
       40,988,495  
Consumer Finance — 0.6%  

American Express Co.

     523,235        97,844,945  

Capital One Financial Corp.

     352,097        46,226,815  

Discover Financial Services

     246,433        27,154,452  

Synchrony Financial

     439,951        15,314,695  
    

 

 

  
       186,540,907  
Containers & Packaging — 0.3%  

Amcor PLC

     1,280,178        14,504,417  

Avery Dennison Corp.

     70,445        12,255,316  

Ball Corp.

     275,531        24,797,790  

International Paper Co.

     325,206        15,008,257  

Packaging Corp. of America

     81,208        12,677,381  

Sealed Air Corp.

     127,950        8,567,532  

Westrock Co.

     221,545        10,419,261  
    

 

 

  
       98,229,954  
Distributors — 0.1%  

Genuine Parts Co.

     122,091        15,385,908  

LKQ Corp.

     225,493        10,239,637  

Pool Corp.

     33,768        14,278,799  
    

 

 

  
       39,904,344  
Diversified Financial Services — 1.7%  

Berkshire Hathaway, Inc., Class B(a)

    1,557,917        549,804,488  
    

 

 

  
Diversified Telecommunication Services — 1.0%  

AT&T, Inc.

     6,074,718        143,545,587  

Lumen Technologies, Inc.

     774,849        8,732,548  

Verizon Communications, Inc.

     3,571,162        181,914,992  
    

 

 

  
       334,193,127  
Electric Utilities — 1.7%  

Alliant Energy Corp.

     212,278        13,263,129  

American Electric Power Co., Inc.

     428,448        42,746,257  

Constellation Energy Corp.

     274,745        15,454,406  

Duke Energy Corp.

     654,361        73,065,949  
Security   Shares      Value  
Electric Utilities (continued)  

Edison International

     324,386      $ 22,739,459  

Entergy Corp.

     170,291        19,881,474  

Evergy, Inc.

     194,569        13,296,846  

Eversource Energy

     292,469        25,792,841  

Exelon Corp.

     833,243        39,687,364  

FirstEnergy Corp.

     481,236        22,069,483  

NextEra Energy, Inc.

     1,669,154        141,394,035  

NRG Energy, Inc.

     209,647        8,042,059  

Pinnacle West Capital Corp.

     97,495        7,614,360  

PPL Corp.

     631,241        18,028,243  

Southern Co.

     901,556        65,371,826  

Xcel Energy, Inc.

     458,242        33,071,325  
    

 

 

  
       561,519,056  
Electrical Equipment — 0.5%  

AMETEK, Inc.

     196,784        26,207,693  

Eaton Corp. PLC

     339,082        51,459,084  

Emerson Electric Co.

     504,847        49,500,248  

Generac Holdings, Inc.(a)(b)

    53,719        15,968,510  

Rockwell Automation, Inc.

     99,094        27,749,293  
    

 

 

  
       170,884,828  
Electronic Equipment, Instruments & Components — 0.6%  

Amphenol Corp., Class A.

     509,507        38,391,352  

CDW Corp.

     115,912        20,735,498  

Corning, Inc.

     630,465        23,270,463  

IPG Photonics Corp.(a)(b)

    29,995        3,292,251  

Keysight Technologies, Inc.(a)

    154,868        24,464,498  

TE Connectivity Ltd.

     276,961        36,276,352  

Teledyne Technologies, Inc.(a)

    39,831        18,825,326  

Trimble, Inc.(a)

    214,630        15,483,408  

Zebra Technologies Corp., Class A(a)

    45,233        18,712,892  
    

 

 

  
       199,452,040  
Energy Equipment & Services — 0.3%  

Baker Hughes Co.

     764,385        27,831,258  

Halliburton Co.

     764,399        28,947,790  

Schlumberger NV

     1,193,831        49,317,159  
    

 

 

  
       106,096,207  
Entertainment — 1.4%  

Activision Blizzard, Inc.

     662,730        53,091,300  

Electronic Arts, Inc.

     237,420        30,036,004  

Live Nation Entertainment, Inc.(a)(b)

    114,913        13,518,365  

Netflix, Inc.(a)

    377,671        141,471,780  

Take-Two Interactive Software, Inc.(a)(b)

    98,152        15,089,889  

Walt Disney Co.(a)

    1,548,779        212,430,528  
    

 

 

  
       465,637,866  
Equity Real Estate Investment Trusts (REITs) — 2.6%  

Alexandria Real Estate Equities, Inc.

     122,842        24,721,953  

American Tower Corp.

     387,412        97,325,643  

AvalonBay Communities, Inc.

     118,890        29,528,709  

Boston Properties, Inc.

     119,633        15,408,730  

Crown Castle International Corp.

     367,667        67,871,328  

Digital Realty Trust, Inc.

     241,412        34,232,222  

Duke Realty Corp.

     325,940        18,924,076  

Equinix, Inc.

     76,596        56,805,126  

Equity Residential

     288,204        25,915,304  

Essex Property Trust, Inc.

     55,122        19,043,549  

Extra Space Storage, Inc.

     113,899        23,417,634  

Federal Realty Investment Trust

     58,771        7,174,176  

Healthpeak Properties, Inc.

     457,368        15,701,443  

Host Hotels & Resorts, Inc.

     607,417        11,802,112  

Iron Mountain, Inc.

     244,276        13,535,333  
 

 

 

2  

    

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

Kimco Realty Corp.

     524,581      $ 12,957,151  

Mid-America Apartment Communities, Inc.

     98,712        20,675,228  

Prologis, Inc.

     629,504        101,652,306  

Public Storage

     129,779        50,650,148  

Realty Income Corp.

     481,280        33,352,704  

Regency Centers Corp.

     131,429        9,376,145  

SBA Communications Corp.

     92,538        31,842,326  

Simon Property Group, Inc.

     279,544        36,776,809  

UDR, Inc.

     254,406        14,595,272  

Ventas, Inc.

     341,045        21,062,939  

Vornado Realty Trust

     135,460        6,139,047  

Welltower, Inc.

     370,280        35,598,719  

Weyerhaeuser Co.

     635,715        24,093,599  
    

 

 

  
       860,179,731  
Food & Staples Retailing — 1.5%  

Costco Wholesale Corp.

     377,220        217,222,137  

Kroger Co.

     571,684        32,797,511  

Sysco Corp.

     430,072        35,115,379  

Walgreens Boots Alliance, Inc.

     609,527        27,288,524  

Walmart, Inc.

     1,203,441        179,216,433  
    

 

 

  
       491,639,984  
Food Products — 1.0%  

Archer-Daniels-Midland Co.

     476,001        42,963,850  

Campbell Soup Co.

     172,290        7,678,965  

Conagra Brands, Inc.

     411,386        13,810,228  

General Mills, Inc.

     514,439        34,837,809  

Hershey Co.

     122,861        26,615,378  

Hormel Foods Corp.

     239,218        12,329,296  

J M Smucker Co.

     91,126        12,339,372  

Kellogg Co.

     219,114        14,130,662  

Kraft Heinz Co.

     605,487        23,850,133  

Lamb Weston Holdings, Inc.

     124,846        7,479,524  

McCormick & Co., Inc.

     212,452        21,202,710  

Mondelez International, Inc., Class A

     1,181,025        74,144,749  

Tyson Foods, Inc., Class A

     248,636        22,285,245  
    

 

 

  
       313,667,921  
Gas Utilities — 0.0%  

Atmos Energy Corp.

     115,210        13,766,443  
    

 

 

  
Health Care Equipment & Supplies — 2.8%  

Abbott Laboratories

     1,504,249        178,042,912  

ABIOMED, Inc.(a)

    38,941        12,898,817  

Align Technology, Inc.(a)

    62,503        27,251,308  

Baxter International, Inc.

     427,373        33,138,502  

Becton Dickinson and Co.

     241,449        64,225,434  

Boston Scientific Corp.(a)

    1,212,215        53,689,002  

Cooper Cos., Inc.(b)

    41,795        17,453,174  

DENTSPLY SIRONA, Inc.

     185,620        9,136,216  

DexCom, Inc.(a)(b)

    82,450        42,181,420  

Edwards Lifesciences Corp.(a)

    531,110        62,522,269  

Hologic, Inc.(a)

    213,145        16,373,799  

IDEXX Laboratories, Inc.(a)

    71,792        39,274,532  

Intuitive Surgical, Inc.(a)

    304,326        91,809,068  

Medtronic PLC

     1,143,791        126,903,611  

ResMed, Inc.

     124,399        30,168,001  

STERIS PLC

     85,176        20,593,002  

Stryker Corp.

     285,611        76,358,101  
Security   Shares      Value  
Health Care Equipment & Supplies (continued)  

Teleflex, Inc.

     39,660      $ 14,072,558  

Zimmer Biomet Holdings, Inc.

     177,714        22,729,621  
    

 

 

  
       938,821,347  
Health Care Providers & Services — 3.0%  

AmerisourceBergen Corp.

     128,094        19,817,423  

Anthem, Inc.

     206,473        101,423,667  

Cardinal Health, Inc.

     236,942        13,434,612  

Centene Corp.(a)

    496,375        41,789,811  

Cigna Corp.

     274,725        65,826,857  

CVS Health Corp.

     1,116,528        113,003,799  

DaVita, Inc.(a)

    54,837        6,202,613  

HCA Healthcare, Inc.

     203,728        51,058,311  

Henry Schein, Inc.(a)

    118,442        10,326,958  

Humana, Inc.

     109,342        47,582,358  

Laboratory Corp. of America Holdings(a)

    80,470        21,216,720  

McKesson Corp.

     128,383        39,301,888  

Molina Healthcare, Inc.(a)

    49,082        16,373,264  

Quest Diagnostics, Inc.

     102,721        14,058,396  

UnitedHealth Group, Inc.

     801,215        408,595,614  

Universal Health Services, Inc., Class B

     61,483        8,911,961  
    

 

 

  
       978,924,252  
Health Care Technology — 0.1%  

Cerner Corp.

     250,825        23,467,187  
    

 

 

  
Hotels, Restaurants & Leisure — 1.9%  

Booking Holdings, Inc.(a)

    34,932        82,036,055  

Caesars Entertainment, Inc.(a)

    181,854        14,068,225  

Carnival Corp.(a)(b)

    693,972        14,032,114  

Chipotle Mexican Grill, Inc.(a)

    23,934        37,864,306  

Darden Restaurants, Inc.

     109,918        14,613,598  

Domino’s Pizza, Inc.

     30,984        12,610,798  

Expedia Group, Inc.(a)

    126,794        24,809,782  

Hilton Worldwide Holdings, Inc.(a)

    237,104        35,978,161  

Las Vegas Sands Corp.(a)

    289,081        11,236,579  

Marriott International, Inc., Class A(a)

    232,724        40,901,243  

McDonald’s Corp.

     635,668        157,187,983  

MGM Resorts International

     327,290        13,726,543  

Norwegian Cruise Line Holdings Ltd.(a)(b)

    351,855        7,698,587  

Penn National Gaming, Inc.(a)

    139,685        5,925,438  

Royal Caribbean Cruises Ltd.(a)(b)

    190,758        15,981,705  

Starbucks Corp.

     978,539        89,017,693  

Wynn Resorts Ltd.(a)(b)

    89,689        7,151,801  

Yum! Brands, Inc.

     246,481        29,215,393  
    

 

 

  
       614,056,004  
Household Durables — 0.3%  

D.R. Horton, Inc.

     274,922        20,484,438  

Garmin Ltd.

     129,873        15,404,237  

Lennar Corp., Class A

     220,599        17,906,021  

Mohawk Industries, Inc.(a)

    46,132        5,729,594  

Newell Brands, Inc.

     322,363        6,901,792  

NVR, Inc.(a)

    2,753        12,298,394  

PulteGroup, Inc.

     212,892        8,920,175  

Whirlpool Corp.

     50,983        8,808,843  
    

 

 

  
       96,453,494  
Household Products — 1.3%  

Church & Dwight Co., Inc.

     206,456        20,517,597  

Clorox Co.

     104,297        14,500,412  

Colgate-Palmolive Co.

     716,996        54,369,807  
 

 

 

MASTER  PORTFOLIO  SCHEDULE  OF  INVESTMENTS

   3

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Household Products (continued)  

Kimberly-Clark Corp.

     286,715      $ 35,311,819  

Procter & Gamble Co.

     2,039,140        311,580,592  
    

 

 

  
       436,280,227  
Independent Power and Renewable Electricity Producers — 0.0%  

AES Corp.

     571,773        14,711,719  
    

 

 

  
Industrial Conglomerates — 1.0%  

3M Co.

     486,707        72,460,938  

General Electric Co.

     935,173        85,568,330  

Honeywell International, Inc.

     583,414        113,520,696  

Roper Technologies, Inc.

     89,734        42,375,087  
    

 

 

  
       313,925,051  
Insurance — 2.1%  

Aflac, Inc.

     511,747        32,951,389  

Allstate Corp.

     241,052        33,388,112  

American International Group, Inc.

     706,319        44,335,644  

Aon PLC, Class A

     182,726        59,501,067  

Arthur J Gallagher and Co.

     177,328        30,961,469  

Assurant, Inc.

     47,910        8,711,475  

Brown & Brown, Inc.

     196,507        14,201,561  

Chubb Ltd.

     366,423        78,377,880  

Cincinnati Financial Corp.

     126,390        17,183,984  

Everest Re Group Ltd.

     33,258        10,023,296  

Globe Life, Inc.

     77,552        7,801,731  

Hartford Financial Services Group, Inc.

     286,186        20,551,017  

Lincoln National Corp.

     142,833        9,335,565  

Loews Corp.

     170,875        11,076,117  

Marsh & McLennan Cos., Inc.

     429,505        73,196,242  

MetLife, Inc.

     601,197        42,252,125  

Principal Financial Group, Inc.

     207,282        15,216,572  

Progressive Corp.

     497,138        56,668,761  

Prudential Financial, Inc.

     321,558        37,998,509  

Travelers Cos., Inc.

     206,857        37,798,980  

W R Berkley Corp.

     178,384        11,878,591  

Willis Towers Watson PLC

     104,775        24,749,950  
    

 

 

  
       678,160,037  
Interactive Media & Services(a) — 5.7%  

Alphabet, Inc., Class A

     255,847        711,600,054  

Alphabet, Inc., Class C

     236,287        659,947,228  

Match Group, Inc.

     241,158        26,223,521  

Meta Platforms, Inc., Class A

     1,964,292        436,779,969  

Twitter, Inc.

     680,384        26,324,057  
    

 

 

  
       1,860,874,829  
Internet & Direct Marketing Retail — 3.8%  

Amazon.com, Inc.(a)

    372,263        1,213,558,767  

eBay, Inc.

     532,530        30,492,668  

Etsy, Inc.(a)

    108,518        13,486,617  
    

 

 

  
       1,257,538,052  
IT Services — 4.2%  

Accenture PLC, Class A

     537,632        181,305,639  

Akamai Technologies, Inc.(a)(b)

    137,627        16,431,288  

Automatic Data Processing, Inc.

     357,325        81,305,730  

Broadridge Financial Solutions, Inc.

     99,337        15,467,764  

Cognizant Technology Solutions Corp., Class A

     446,822        40,066,529  

DXC Technology Co.(a)

    212,880        6,946,274  

EPAM Systems, Inc.(a)(b)

    47,634        14,128,721  

Fidelity National Information Services, Inc.

     518,012        52,018,765  

Fiserv, Inc.(a)

    505,483        51,255,976  

FleetCor Technologies, Inc.(a)

    68,276        17,004,821  

Gartner, Inc.(a)(b)

    70,227        20,889,723  
Security   Shares      Value  
IT Services (continued)  

Global Payments, Inc.

     243,974      $ 33,385,402  

International Business Machines Corp.

     762,891        99,191,088  

Jack Henry & Associates, Inc.

     63,214        12,456,319  

Mastercard, Inc., Class A

     734,188        262,384,107  

Paychex, Inc.

     273,132        37,274,324  

PayPal Holdings, Inc.(a)

    988,924        114,369,061  

VeriSign, Inc.(a)

    82,712        18,400,112  

Visa, Inc., Class A

     1,410,791        312,871,120  
    

 

 

  
       1,387,152,763  
Leisure Products — 0.0%  

Hasbro, Inc.

     109,344        8,957,460  
    

 

 

  
Life Sciences Tools & Services — 1.8%  

Agilent Technologies, Inc.

     255,445        33,803,037  

Bio-Rad Laboratories, Inc., Class A(a)

    18,566        10,456,928  

Bio-Techne Corp.

     33,441        14,481,291  

Charles River Laboratories International, Inc.(a)

    42,647        12,110,469  

Danaher Corp.

     541,331        158,788,622  

Illumina, Inc.(a)

    132,962        46,456,923  

IQVIA Holdings, Inc.(a)

    162,756        37,630,815  

Mettler-Toledo International, Inc.(a)(b)

    19,557        26,855,477  

PerkinElmer, Inc.(b)

    107,875        18,819,872  

Thermo Fisher Scientific, Inc.

     335,209        197,991,196  

Waters Corp.(a)

    51,322        15,929,835  

West Pharmaceutical Services, Inc.

     63,019        25,882,533  
    

 

 

  
       599,206,998  
Machinery — 1.5%  

Caterpillar, Inc.

     460,169        102,534,857  

Cummins, Inc.

     120,269        24,668,375  

Deere & Co.

     238,582        99,121,278  

Dover Corp.

     122,144        19,164,394  

Fortive Corp.

     306,494        18,674,679  

IDEX Corp.

     64,439        12,354,889  

Illinois Tool Works, Inc.

     242,982        50,880,431  

Ingersoll Rand, Inc.(b)

    346,883        17,465,559  

Nordson Corp.

     45,431        10,316,471  

Otis Worldwide Corp.

     358,805        27,610,045  

PACCAR, Inc.

     295,442        26,019,577  

Parker-Hannifin Corp.

     109,631        31,108,893  

Pentair PLC

     138,010        7,481,522  

Snap-on, Inc.

     45,895        9,430,505  

Stanley Black & Decker, Inc.

     138,689        19,387,335  

Westinghouse Air Brake Technologies Corp.

     158,926        15,283,913  

Xylem, Inc.

     152,793        13,027,131  
    

 

 

  
       504,529,854  
Media — 1.0%  

Charter Communications, Inc.,
Class A(a)(b)

    101,394        55,312,455  

Comcast Corp., Class A

     3,848,302        180,177,500  

Discovery, Inc., Class A(a)(b)

    143,129        3,566,775  

Discovery, Inc., Class C(a)

    254,964        6,366,451  

DISH Network Corp., Class A(a)

    215,893        6,833,013  

Fox Corp., Class A

     269,365        10,626,449  

Fox Corp., Class B

     124,115        4,502,892  

Interpublic Group of Cos., Inc.

     330,733        11,724,485  

News Corp., Class A

     335,584        7,433,186  

News Corp., Class B

     114,231        2,572,482  

Omnicom Group, Inc.

     180,687        15,336,713  

Paramount Global, Class B

     516,114        19,514,270  
    

 

 

  
       323,966,671  
 

 

 

4  

    

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Metals & Mining — 0.5%  

Freeport-McMoRan, Inc.

     1,248,855      $ 62,118,048  

Newmont Corp.

     678,783        53,929,309  

Nucor Corp.

     231,924        34,475,503  
    

 

 

  
       150,522,860  
Multiline Retail — 0.5%  

Dollar General Corp.

     196,179        43,675,331  

Dollar Tree, Inc.(a)(b)

    191,366        30,647,265  

Target Corp.

     407,582        86,497,052  
    

 

 

  
       160,819,648  
Multi-Utilities — 0.8%  

Ameren Corp.

     220,529        20,676,799  

CenterPoint Energy, Inc.

     528,783        16,201,911  

CMS Energy Corp.

     245,651        17,180,831  

Consolidated Edison, Inc.

     301,068        28,505,118  

Dominion Energy, Inc.

     689,052        58,548,748  

DTE Energy Co.

     164,816        21,790,323  

NiSource, Inc.

     332,857        10,584,853  

Public Service Enterprise Group, Inc.

     430,159        30,111,130  

Sempra Energy

     271,654        45,670,471  

WEC Energy Group, Inc.

     268,349        26,783,914  
    

 

 

  
       276,054,098  
Oil, Gas & Consumable Fuels — 3.5%  

APA Corp.

     304,246        12,574,487  

Chevron Corp.

     1,639,847        267,016,287  

ConocoPhillips

     1,107,794        110,779,400  

Coterra Energy, Inc.

     691,384        18,646,626  

Devon Energy Corp.

     535,598        31,669,910  

Diamondback Energy, Inc.

     145,525        19,948,567  

EOG Resources, Inc.

     497,725        59,343,752  

Exxon Mobil Corp.

     3,601,418        297,441,113  

Hess Corp.

     234,496        25,100,452  

Kinder Morgan, Inc.

     1,658,861        31,369,062  

Marathon Oil Corp.

     660,608        16,587,867  

Marathon Petroleum Corp.

     492,771        42,131,920  

Occidental Petroleum Corp.

     754,795        42,827,068  

ONEOK, Inc.

     379,350        26,793,491  

Phillips 66

     398,941        34,464,513  

Pioneer Natural Resources Co.

     193,143        48,291,544  

Valero Energy Corp.

     346,896        35,223,820  

Williams Cos., Inc.

     1,030,913        34,442,803  
    

 

 

  
       1,154,652,682  
Personal Products — 0.2%  

Estee Lauder Cos., Inc., Class A

     197,719        53,842,838  
    

 

 

  
Pharmaceuticals — 3.8%  

Bristol-Myers Squibb Co.

     1,854,242        135,415,293  

Catalent, Inc.(a)(b)

    151,163        16,763,977  

Eli Lilly & Co.

     675,417        193,419,166  

Johnson & Johnson

     2,239,502        396,906,939  

Merck & Co., Inc.

     2,148,774        176,306,907  

Organon & Co.

     212,173        7,411,203  

Pfizer, Inc.

     4,774,763        247,189,481  

Viatris, Inc.

     1,040,410        11,319,661  

Zoetis, Inc.

     402,480        75,903,703  
    

 

 

  
       1,260,636,330  
Professional Services — 0.3%  

Equifax, Inc.

     103,785        24,607,424  

Jacobs Engineering Group, Inc.

     109,619        15,106,595  

Leidos Holdings, Inc.

     118,004        12,746,792  
Security   Shares      Value  
Professional Services (continued)             

Nielsen Holdings PLC

     301,814      $ 8,221,413  

Robert Half International, Inc.

     95,263        10,877,129  

Verisk Analytics, Inc.

     136,594        29,317,170  
    

 

 

  
       100,876,523  
Real Estate Management & Development — 0.1%  

CBRE Group, Inc., Class A(a)

    284,757        26,060,961  
    

 

 

  
Road & Rail — 1.0%  

CSX Corp.

     1,886,798        70,660,585  

JB Hunt Transport Services, Inc.

     71,467        14,349,859  

Norfolk Southern Corp.

     204,617        58,360,861  

Old Dominion Freight Line, Inc.

     79,311        23,688,609  

Union Pacific Corp.

     541,798        148,024,632  
    

 

 

  
       315,084,546  
Semiconductors & Semiconductor Equipment — 5.9%  

Advanced Micro Devices, Inc.(a)

    1,390,700        152,059,138  

Analog Devices, Inc.

     446,889        73,817,125  

Applied Materials, Inc.

     755,399        99,561,588  

Broadcom, Inc.

     351,224        221,158,728  

Enphase Energy, Inc.(a)

    113,469        22,895,775  

Intel Corp.

     3,463,976        171,674,650  

KLA Corp.

     128,371        46,991,488  

Lam Research Corp.

     118,391        63,648,185  

Microchip Technology, Inc.

     472,971        35,539,041  

Micron Technology, Inc.

     952,574        74,195,989  

Monolithic Power Systems, Inc.

     36,500        17,727,320  

NVIDIA Corp.

     2,126,704        580,292,453  

NXP Semiconductors NV

     226,224        41,869,538  

Qorvo, Inc.(a)

    92,517        11,481,360  

Qualcomm, Inc.

     958,718        146,511,285  

Skyworks Solutions, Inc.

     138,467        18,454,882  

SolarEdge Technologies, Inc.(a)(b)

    44,162        14,236,504  

Teradyne, Inc.

     139,672        16,513,421  

Texas Instruments, Inc.

     785,645        144,150,145  
    

 

 

  
       1,952,778,615  
Software — 8.8%  

Adobe, Inc.(a)

    401,267        182,825,271  

ANSYS, Inc.(a)

    73,962        23,494,029  

Autodesk, Inc.(a)

    187,127        40,110,672  

Cadence Design Systems, Inc.(a)

    235,759        38,772,925  

Ceridian HCM Holding, Inc.(a)(b)

    117,946        8,062,789  

Citrix Systems, Inc.(a)

    106,925        10,788,732  

Fortinet, Inc.(a)

    115,442        39,451,149  

Intuit, Inc.

     240,886        115,827,624  

Microsoft Corp.

     6,377,447        1,966,230,685  

NortonLifeLock, Inc.

     492,908        13,071,920  

Oracle Corp.

     1,340,303        110,883,267  

Paycom Software, Inc.(a)

    41,207        14,273,281  

PTC, Inc.(a)

    88,186        9,499,396  

salesforce.com, Inc.(a)

    837,921        177,907,387  

ServiceNow, Inc.(a)

    170,136        94,747,037  

Synopsys, Inc.(a)(b)

    130,527        43,500,733  

Tyler Technologies, Inc.(a)

    34,886        15,520,433  
    

 

 

  
       2,904,967,330  
Specialty Retail — 1.9%  

Advance Auto Parts, Inc.

     52,975        10,963,706  

AutoZone, Inc.(a)

    17,631        36,047,990  

Bath & Body Works, Inc.

     222,582        10,639,420  

Best Buy Co., Inc.

     187,470        17,041,023  

CarMax, Inc.(a)(b)

    136,909        13,208,980  
 

 

 

MASTER  PORTFOLIO  SCHEDULE  OF  INVESTMENTS

   5

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Specialty Retail (continued)  

Home Depot, Inc.

     888,315      $ 265,899,329  

Lowe’s Cos., Inc.

     573,144        115,883,985  

O’Reilly Automotive, Inc.(a)

    57,317        39,259,852  

Ross Stores, Inc.

     300,147        27,151,298  

TJX Cos., Inc.

     1,015,861        61,540,859  

Tractor Supply Co.

     96,986        22,633,623  

Ulta Beauty, Inc.(a)

    45,673        18,187,902  
    

 

 

  
       638,457,967  
Technology Hardware, Storage & Peripherals — 7.3%  

Apple, Inc.

     13,188,518        2,302,847,128  

Hewlett Packard Enterprise Co.

     1,101,086        18,399,147  

HP, Inc.

     922,465        33,485,480  

NetApp, Inc.

     187,617        15,572,211  

Seagate Technology Holdings PLC

     172,228        15,483,297  

Western Digital Corp.(a)

    266,582        13,235,796  
    

 

 

  
       2,399,023,059  
Textiles, Apparel & Luxury Goods — 0.6%  

NIKE, Inc., Class B

     1,085,715        146,093,810  

PVH Corp.

     60,241        4,615,063  

Ralph Lauren Corp.

     39,948        4,531,701  

Tapestry, Inc.

     237,843        8,835,867  

Under Armour, Inc., Class A(a)

    150,302        2,558,140  

Under Armour, Inc., Class C(a)(b)

    169,421        2,636,191  

VF Corp.

     274,125        15,586,748  
    

 

 

  
       184,857,520  
Tobacco — 0.6%  

Altria Group, Inc.

     1,550,942        81,036,720  

Philip Morris International, Inc.

     1,318,410        123,851,435  
    

 

 

  
       204,888,155  
Trading Companies & Distributors — 0.2%  

Fastenal Co.

     489,610        29,082,834  

United Rentals, Inc.(a)

    61,424        21,818,419  

WW Grainger, Inc.

     36,543        18,848,514  
    

 

 

  
       69,749,767  
Water Utilities — 0.1%  

American Water Works Co., Inc.

     153,076        25,338,670  
    

 

 

  
Security   Shares      Value  
Wireless Telecommunication Services — 0.2%  

T-Mobile U.S., Inc.(a)

    499,461      $ 64,105,819  
    

 

 

  

Total Common Stocks — 98.9%
(Cost: $13,592,858,549)

        32,570,560,098  
    

 

 

  

Investment Companies

 

Equity Funds — 0.4%  

iShares Core S&P 500 ETF(c)

    314,558        142,711,819  
    

 

 

  

Total Investment Companies — 0.4%
(Cost: $131,845,295)

        142,711,819  
    

 

 

  

Total Long-Term Investments — 99.3%
(Cost: $13,724,703,844)

 

      32,713,271,917  
    

 

 

  

Short-Term Securities

 

Money Market Funds — 0.8%  

BlackRock Cash Funds: Institutional, SL Agency Shares, 0.37%(c)(d)(e)

    109,538,613        109,516,705  

BlackRock Cash Funds: Treasury, SL Agency Shares, 0.28%(c)(d)

    147,033,225        147,033,225  
    

 

 

  

Total Short-Term Securities — 0.8%
(Cost: $256,531,957)

        256,549,930  
    

 

 

  

Total Investments — 100.1%
(Cost: $13,981,235,801)

        32,969,821,847  

Liabilities in Excess of Other Assets — (0.1)%

 

      (46,860,300 ) 
    

 

 

  

Net Assets — 100.0%

      $ 32,922,961,547  
    

 

 

  

 

(a) 

Non-income producing security.

(b) 

All or a portion of this security is on loan.

(c) 

Affiliate of the Master Portfolio.

(d) 

Annualized 7-day yield as of period end.

(e) 

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

 

 

For Master Portfolio compliance purposes, the Master Portfolio’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.

 

 

6  

    

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Master Portfolio during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

                   
Affiliated Issuer   Value at
12/31/21		     Purchases
at Cost		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
03/31/22		     Shares
Held at
03/31/22		     Income     Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Cash Funds: Institutional, SL Agency Shares

   $ 129,540,046     $ —     $ (19,954,260 )(a)    $ (71,463 )    $ 2,382     $ 109,516,705       109,538,613     $ 51,442 (b)    $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

     190,825,864       —       (43,792,639 )(a)      —       —       147,033,225       147,033,225       32,923       —  

BlackRock, Inc.

     110,121,726       744,844       —       —       (18,178,098 )      92,688,472       121,293       586,957       —  

iShares Core S&P 500 ETF

     433,216,628       656,238,867       (951,487,468 )      20,096,820       (15,353,028 )      142,711,819       314,558       543,540       —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  
        $ 20,025,357     $ (33,528,744 )    $ 491,950,221       $ 1,214,862     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (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/
Unrealized
Appreciation
(Depreciation)		  

Long Contracts

                  

S&P 500 E-Mini Index

      868          06/17/22        $ 196,635        $ 13,479,228  
                 

 

 

  

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 Master Portfolio 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 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 Master Portfolio’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

 

 

MASTER  PORTFOLIO  SCHEDULE  OF  INVESTMENTS

   7

Schedule of Investments (unaudited) (continued)

March 31, 2022

   

S&P 500 Index Master Portfolio

 

Fair Value Hierarchy as of Period End (continued)

The following table summarizes the Master Portfolio’s financial instruments categorized in the fair value hierarchy. The breakdown of the Master Portfolio’s financial instruments 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

    $ 32,570,560,098        $ —        $ —        $ 32,570,560,098  

Investment Companies

      142,711,819          —          —          142,711,819  

Short-Term Securities

                  

Money Market Funds

      256,549,930          —          —          256,549,930  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 32,969,821,847        $             —        $             —        $ 32,969,821,847  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Assets

                  

Equity Contracts

    $ 13,479,228        $ —        $ —        $ 13,479,228  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

 

Portfolio Abbreviation
ETF    Exchange-Traded Fund
MSCI    Morgan Stanley Capital International
S&P    Standard & Poor’s

 

 

8