UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-7852

Exact Name of Registrant as Specified in Charter: USAA MUTUAL FUNDS TRUST

Address of Principal Executive Offices and Zip Code: 9800 FREDERICKSBURG ROAD

SAN ANTONIO, TX 78288 

Name and Address of Agent for Service: CHRISTOPHER P. LAIA
 USAA MUTUAL FUNDS TRUST
 9800 FREDERICKSBURG ROAD
 SAN ANTONIO, TX 78288

Registrant's Telephone Number, Including Area Code: (210) 498-0226

Date of Fiscal Year End: DECEMBER 31

Date of Reporting Period: SEPTEMBER 30, 2009

ITEM 1. SCHEDULE OF INVESTMENTS.
USAA MUTUAL FUNDS TRUST - 3RD QUARTER REPORT - PERIOD ENDED SEPTEMBER 30, 2009

[LOGO OF USAA]
USAA(R)

PORTFOLIO OF INVESTMENTS
3RD QUARTER
USAA EXTENDED MARKET INDEX FUND
SEPTEMBER 30, 2009

(Form N-Q)

48416-1109 (C)2009, USAA. All rights reserved.

PORTFOLIO OF INVESTMENTS

September 30, 2009 (unaudited)

USAA MUTUAL FUND, INC. (the Company), registered under the Investment Company Act of 1940 (the 1940 Act), as amended, is an open-end management investment company organized as a Delaware statutory trust consisting of 45 separate funds. The information presented in this quarterly report pertains only to the USAA Extended Market Index Fund (the Fund), which is classified as diversified under the 1940 Act.

The Fund's primary investment objective is to seek to match, before fees and expenses, the performance of the U.S. stocks not included in the S&P 500 Index as represented by the Dow Jones U.S. Completion Total Stock Market Index.

USAA Investment Management Company (the Manager), an affiliate of the Fund, attempts to achieve this objective by investing all of the Fund's investable assets in the Master Extended Market Index Series of the Quantitative Master Series LLC (the Series), which is a separate open-end investment management company advised by BlackRock Advisors, LLC (BlackRock), with a substantially similar investment objective.

SUBSEQUENT EVENTS - Subsequent events are events or transactions that occur after the balance sheet date but before the quarterly report is issued and are categorized as recognized or non-recognized for quarterly report purposes. The Manager has evaluated subsequent events through November 19, 2009, the date the quarterly report was issued, and has determined there were no events that required recognition or disclosure in the Fund's quarterly report.

FUND INVESTMENT - At September 30, 2009, the Fund's investment in the Series was $265,087,000, at value, representing 96.66% of the Series. The Fund records its investment in the Series at fair value, which reflects its proportionate interest in the net assets of the Series.

FAIR VALUE MEASUREMENTS - Refer to the Schedule of Investments of the Series for a discussion of fair value measurements and a summary of the inputs used to value the Series' assets. The following is a summary of the inputs used to value the Fund's investment in the Series as of September 30, 2009: 

Valuation Inputs Investment in the Series
--------------------------------------------------------------------------------
Level 1 - Quoted Prices $-
Level 2 - Other Significant Observable Inputs 265,087,000
Level 3 - Significant Unobservable Inputs -
--------------------------------------------------------------------------------
Total $265,087,000
--------------------------------------------------------------------------------

The Schedule of Investments of the Series follows.

================================================================================
USAA Extended Market Index Fund

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC 

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
AEROSPACE & DEFENSE - 1.1% AAR Corp. (a) 4,300 $ 94,342
 AeroVironment, Inc. (a) 1,800 50,562
 Aerosonic Corp. (a) 200 960
 Alliant Techsystems, Inc. (a)(b) 4,062 316,227
 The Allied Defense Group, Inc. (a) 1,000 5,210
 American Defense Systems, Inc. (a) 13,400 6,834
 Applied Energetics, Inc. (a)(c) 3,765 1,735
 Applied Signal Technology, Inc. 2,500 58,175
 Argon ST, Inc. (a) 1,800 34,290
 Arotech Corp. (a) 14 26
 Astronics Corp. (a) 1,000 9,400
 Astrotech Corp. (a) 50 141
 Aviation General, Inc. (a) 1,200 -
 BE Aerospace, Inc. (a) 10,600 213,484
 Ceradyne, Inc. (a) 2,875 52,699
 Cubic Corp. 1,800 71,046
 Curtiss-Wright Corp. 4,900 167,237
 Ducommun, Inc. 1,600 30,256
 DynCorp. International, Inc. (a) 2,600 46,800
 Esterline Technologies Corp. (a) 3,700 145,077
 Force Protection, Inc. (a) 8,800 48,048
 GenCorp, Inc. (a) 6,000 32,160
 HI Shear Technology Corp. 700 13,349
 Hawk Corp., Class A (a) 800 10,976
 Heico Corp., Class A 1,792 60,767
 Herley Industries, Inc. (a) 975 12,724
 Hexcel Corp. (a) 9,500 108,680
 ICx Technologies, Inc. (a) 200 1,184
 Innovative Solutions & Support, Inc. (a) 1,593 7,981
 Kratos Defense & Security Solutions, Inc. (a) 440 3,850
 LMI Aerospace, Inc. (a) 1,500 15,045
 Ladish Co., Inc. (a) 2,500 37,825
 Mantech International Corp., Class A (a) 2,195 103,516
 Moog, Inc. Class A (a) 3,725 109,888
 Orbital Sciences Corp. (a) 6,400 95,808
 RBC Bearings, Inc. (a) 2,400 55,992
 Smith & Wesson Holding Corp. (a) 9,700 50,731
 Spirit Aerosystems Holdings, Inc., Class A (a) 11,600 209,496
 Sturm Ruger & Co., Inc. 3,700 47,878
 Taser International, Inc. (a) 6,930 32,710
 Teledyne Technologies, Inc. (a) 4,900 176,351
 TransDigm Group, Inc. (a) 4,800 239,088
 Triumph Group, Inc. 2,400 115,176
 VSE Corp. 1,000 39,010
 ----------------
 2,932,734
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 1

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
ALTERNATIVE ENERGY - 0.5% Akeena Solar, Inc. (a)(c) 2,600 $ 2,938
 Allegro Biodiesel Corp. (a) 2 -
 Ascent Solar Technologies, Inc. (a) 1,500 11,310
 BioFuel Energy Corp. (a) 4,600 3,128
 Daystar Technologies, Inc. (a) 3,700 2,775
 Ener1, Inc. (a) 4,100 28,372
 Energy Conversion Devices, Inc. (a)(c) 6,500 75,270
 Evergreen Solar, Inc. (a)(c) 16,600 31,872
 First Solar, Inc. (a)(c) 5,700 871,302
 FuelCell Energy, Inc. (a)(c) 11,800 50,386
 GT Solar International, Inc. (a) 3,300 19,173
 GreenHunter Energy, Inc. (a) 300 591
 Hoku Scientific, Inc. (a)(c) 2,900 8,584
 Pacific Ethanol, Inc. (a) 2,900 1,494
 Plug Power, Inc. (a) 12,107 10,654
 Raser Technologies, Inc. (a)(c) 4,700 7,191
 SunPower Corp., Class A (a)(c) 7,950 237,626
 Verenium Corp. (a) 441 3,016
 ----------------
 1,365,682
------------------------------------------------------------------------------------------------------------------------------------
AUTOMOBILES & PARTS - 0.7% American Axle & Manufacturing Holdings, Inc. (c) 7,500 53,100
 Amerigon, Inc. (a) 4,300 31,605
 ArvinMeritor, Inc. 8,100 63,342
 BorgWarner, Inc. 14,100 426,666
 Cooper Tire & Rubber Co. 6,500 114,270
 Dana Holding Corp. (a) 9,100 61,971
 Dorman Products, Inc. (a) 1,300 19,526
 Exide Technologies (a) 6,887 54,889
 Federal-Mogul Corp., Class A (a) 2,600 31,382
 Fuel Systems Solutions, Inc. (a) 2,050 73,780
 Gentex Corp. 14,890 210,694
 LKQ Corp. (a) 14,700 272,538
 LoJack Corp. (a) 3,000 15,270
 Modine Manufacturing Co. 1,900 17,613
 Quantum Fuel Systems Technologies 10,712 14,247
 Worldwide, Inc. (a)(c)
 Shiloh Industries, Inc. (a) 400 1,800
 Standard Motor Products, Inc. 1,300 19,760
 Stoneridge, Inc. (a) 1,700 12,036
 Strattec Security Corp. 900 12,834
 Superior Industries International, Inc. 3,110 44,162
 TRW Automotive Holdings Corp. (a) 7,220 120,935
 Tenneco, Inc. (a) 5,200 67,808
 Titan International, Inc. 3,775 33,598
 U.S. Auto Parts Network, Inc. (a) 3,900 21,255

 2

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 United Capital Corp. (a) 600 $ 13,872
 WABCO Holdings, Inc. 8,700 182,700
 Williams Controls, Inc. (a) 500 4,490
 ----------------
 1,996,143
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BANKS - 4.4% 1st Source Corp. 1,510 24,613
 Abington Bancorp, Inc. 2,400 18,576
 Alliance Financial Corp. 500 13,525
 Amcore Financial, Inc. 3,170 5,072
 Ameriana Bancorp 200 670
 American National Bankshares, Inc. 600 13,092
 AmericanWest Bancorp (a) 2,200 1,166
 Ameris Bancorp 1,532 10,951
 Ames National Corp. 700 16,877
 Anchor Bancorp Wisconsin, Inc. 2,600 3,380
 Arrow Financial Corp. 1,205 32,887
 Associated Banc-Corp. 15,459 176,542
 Astoria Financial Corp. 11,150 123,096
 Atlantic Coast Federal Corp. 74 160
 BCSB Bancorp, Inc. (a) 631 5,401
 BOK Financial Corp. (c) 2,501 115,846
 BancTrust Financial Group, Inc. 1,988 7,097
 Bancfirst Corp. 1,000 36,930
 The Bancorp, Inc. (a) 3,400 19,448
 Bancorp of New Jersey, Inc. (a) 1,300 13,338
 Bancorp Rhode Island, Inc. 900 22,482
 BancorpSouth, Inc. 8,200 200,162
 Bank Mutual Corp. 5,900 52,156
 Bank of Granite Corp. (a) 781 804
 Bank of Hawaii Corp. (b) 6,000 249,240
 Bank of Marin Bancorp 500 15,665
 Bank of the Ozarks, Inc. (b) 1,700 45,101
 BankAtlantic Bancorp, Inc. 13,167 38,184
 BankFinancial Corp. 2,200 21,076
 Banner Corp. 2,500 6,825
 Bar Harbor Bankshares 500 17,000
 Beneficial Mutual Bancorp, Inc. (a) 4,000 36,520
 Berkshire Bancorp, Inc. 300 2,049
 Berkshire Hills Bancorp, Inc. 1,700 37,298
 Boston Private Financial Holdings, Inc. 6,300 41,013
 Bridge Bancorp, Inc. 1,100 26,763
 Brookline Bancorp, Inc. 6,399 62,198
 Bryn Mawr Bank Corp. 700 12,229
 CFS Bancorp, Inc. 2,100 9,954
 CVB Financial Corp. 13,575 103,034
 California First National Bancorp 600 6,642
 Camco Financial Corp. 500 1,085
 Camden National Corp. 800 26,432

 3

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Cape Bancorp, Inc. (a) 200 $ 1,536
 Capital Bank Corp. 1,800 8,964
 Capital City Bank Group, Inc. 1,325 18,815
 CapitalSource, Inc. 27,641 119,962
 Capitol Bancorp Ltd. 1,820 4,750
 Capitol Federal Financial 2,340 77,033
 Cardinal Financial Corp. 4,200 34,566
 Carrollton Bancorp 210 1,155
 Cascade Bancorp 2,975 3,600
 Cascade Financial Corp. 515 875
 Cathay General Bancorp (c) 7,622 61,662
 Center Bancorp, Inc. 3,015 22,703
 Center Financial Corp. 1,800 6,876
 Centerstate Banks, Inc. 1,300 10,257
 Central Pacific Financial Corp. 9,176 23,123
 Century Bancorp, Inc., Class A 900 19,530
 Charter Financial Corp. 500 6,030
 Chemical Financial Corp. 2,713 59,116
 Chicopee Bancorp, Inc. (a) 600 7,926
 Citizens & Northern Corp. 1,012 14,967
 Citizens Banking Corp. (a) 69,585 52,884
 Citizens First Bancorp, Inc. (a) 1,600 1,312
 Citizens South Banking Corp. 2,328 14,201
 City Holding Co. 1,800 53,658
 City National Corp. 5,500 214,115
 CityBank (c) 2,050 5,309
 Clifton Savings Bancorp, Inc. 980 9,604
 CoBiz Financial, Inc. 2,250 11,205
 Colony Bankcorp, Inc. 500 3,000
 Columbia Banking System, Inc. 4,230 70,006
 Comm Bancorp, Inc. 100 2,805
 Commerce Bancshares, Inc. 7,879 293,414
 Community Bank System, Inc. 3,600 65,772
 Community Trust Bancorp, Inc. 1,580 41,348
 Corus Bankshares, Inc. (a)(c) 4,800 432
 Cullen/Frost Bankers, Inc. 6,840 353,217
 Danvers Bancorp, Inc. 3,700 50,283
 Dime Community Bancshares, Inc. 3,700 42,291
 Doral Financial Corp. (a) 677 2,505
 ESB Financial Corp. 629 8,422
 ESSA Bancorp, Inc. 2,400 31,704
 East-West Bancorp, Inc. 9,497 78,825
 Eastern Virginia Bankshares, Inc. 300 2,367
 Encore Bancshares, Inc. (a) 1,700 15,283
 Enterprise Financial Services Corp. 2,700 24,975

 4

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 EuroBancshares, Inc. (a) 1,400 $ 2,450
 F.N.B. Corp. 12,236 86,998
 FNB United Corp. 300 798
 Farmers Capital Bank Corp. 300 5,364
 Financial Institutions, Inc. 1,900 18,943
 First BanCorp., Puerto Rico 8,600 26,230
 First Bancorp, Inc. 400 7,440
 First Bancorp, North Carolina 1,800 32,490
 First Busey Corp. (c) 3,050 14,335
 First Citizens Banc Corp. 1,000 5,280
 First Citizens BancShares, Inc., Class A 651 103,574
 First Commonwealth Financial Corp. 9,100 51,688
 First Community Bancshares, Inc. 1,200 15,144
 First Defiance Financial Corp. 800 11,928
 First Federal Bancshares of Arkansas, Inc. 1,200 4,644
 First Financial Bancorp 4,710 56,756
 First Financial Bankshares, Inc. 1,966 97,238
 First Financial Corp. 1,100 33,704
 First Financial Holdings, Inc. 1,400 22,358
 First Financial Northwest, Inc. 3,100 18,042
 First Financial Service Corp. 358 4,822
 First M&F Corp. 600 1,650
 First Merchants Corp. 2,533 17,655
 First Midwest Bancorp, Inc. 6,175 69,592
 First Niagara Financial Group, Inc. 18,789 231,668
 The First of Long Island Corp. 400 10,636
 First Place Financial Corp. 1,915 5,649
 First Regional Bancorp (a) 600 726
 First Security Group, Inc. 200 770
 First South Bancorp, Inc. 1,000 11,500
 First State Bancorp. (a) 3,300 3,927
 First United Corp. 700 7,693
 FirstMerit Corp. 10,930 207,995
 Flagstar Bancorp, Inc. (a) 7,800 8,034
 Flushing Financial Corp. 2,950 33,630
 Fox Chase Bancorp, Inc. (a) 1,600 16,032
 Frontier Financial Corp. (c) 5,400 5,886
 Fulton Financial Corp. 18,411 135,505
 German American Bancorp, Inc. 661 10,252
 Glacier Bancorp, Inc. 6,556 97,947
 Great Southern Bancorp, Inc. 1,100 26,081
 Greene County Bancshares, Inc. 1,816 9,080
 Guaranty Bancorp (a) 5,400 7,992
 HMN Financial, Inc. 900 3,375
 Hampton Roads Bankshares, Inc. 4,404 12,684

 5

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Hancock Holding Co. 3,000 $ 112,710
 Hanmi Financial Corp. (a) 7,356 12,064
 Harleysville National Corp. 4,668 24,880
 Hawthorn Bancshares, Inc. 260 2,597
 Heartland Financial USA, Inc. 1,700 25,075
 Heritage Commerce Corp. 1,900 8,968
 Heritage Financial Corp. 420 5,523
 Home Bancorp, Inc. (a) 1,000 12,170
 Home Bancshares, Inc. 1,716 37,615
 Home Federal Bancorp, Inc. 1,800 20,556
 Horizon Financial Corp. 625 513
 IBERIABANK Corp. 2,800 127,568
 Independent Bank Corp./MA 2,313 51,187
 Independent Bank Corp./MI 2,524 4,796
 Indiana Community Bancorp 1,100 9,823
 Integra Bank Corp. 2,200 2,442
 International Bancshares Corp. 6,141 100,160
 Intervest Bancshares Corp. 2,100 7,560
 Investors Bancorp, Inc. (a) 5,678 60,244
 Jefferson Bancshares, Inc. 1,900 9,823
 Kearny Financial Corp. 2,300 23,966
 Lakeland Bancorp, Inc. 2,600 19,500
 Lakeland Financial Corp. 1,700 35,105
 Legacy Bancorp, Inc./MA 1,700 17,850
 Louisiana Bancorp, Inc. (a) 600 8,220
 MB Financial, Inc. 6,530 136,934
 Macatawa Bank Corp. 787 2,046
 MainSource Financial Group, Inc. 2,301 15,647
 Malvern Federal Bancorp, Inc. 1,200 10,800
 Mercantile Bank Corp. 2,070 8,715
 Merchants Bancshares, Inc. 550 11,748
 Metro Bancorp, Inc. (a) 700 8,519
 Mid Penn Bancorp, Inc. 115 1,616
 Midwest Banc Holdings, Inc. (a) 1,000 710
 MidwestOne Financial Group, Inc. 900 8,100
 MutualFirst Financial, Inc. 300 2,112
 NASB Financial, Inc. 400 10,520
 NBT Bancorp, Inc. 3,560 80,242
 Nara Bancorp, Inc. 3,100 21,545
 National Bankshares, Inc. 100 2,545
 National Penn Bancshares, Inc. 17,027 104,035
 New York Community Bancorp, Inc. (c) 40,941 467,546
 NewAlliance Bancshares, Inc. 13,200 141,240
 Newbridge Bancorp 2,004 5,491
 North Valley Bancorp 2,200 6,578
 Northern States Financial Corp. 300 1,188

 6

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Northfield Bancorp, Inc. 2,200 $ 28,160
 Northwest Bancorp, Inc. 2,000 45,680
 Norwood Financial Corp. 157 4,883
 OceanFirst Financial Corp. 1,700 19,720
 Ohio Valley Banc Corp. 875 23,188
 Old National Bancorp 7,332 82,118
 Old Second Bancorp, Inc. (c) 1,886 10,807
 Oriental Financial Group 3,894 49,454
 Oritani Financial Corp. 1,400 19,096
 Orrstown Financial Service, Inc. 200 7,728
 PAB Bankshares, Inc. (a) 612 1,897
 PVF Capital Corp. 321 754
 PacWest Bancorp 4,061 77,362
 Pacific Capital Bancorp 12,210 17,582
 Pacific Continental Corp. 1,300 13,689
 Pamrapo Bancorp, Inc. 1,000 7,000
 Park National Corp. (c) 1,230 71,758
 Parkvale Financial Corp. 500 4,680
 Peapack-Gladstone Financial Corp. 906 14,550
 Penns Woods Bancorp, Inc. 800 25,608
 Peoples Bancorp of North Carolina, Inc. 363 2,447
 Peoples Bancorp, Inc. 1,095 14,290
 Peoples Financial Corp. 1,000 18,610
 Pinnacle Financial Partners, Inc. (a) 5,342 67,897
 Popular, Inc. 36,539 103,405
 Porter Bancorp, Inc. 985 16,056
 Preferred Bank 2,494 8,130
 Premierwest Bancorp 840 2,276
 PrivateBancorp, Inc. 5,100 124,746
 Prosperity Bancshares, Inc. 6,000 208,740
 Provident Financial Holdings, Inc. 500 4,040
 Provident Financial Services, Inc. 6,689 68,830
 Provident New York Bancorp 4,803 45,869
 Prudential Bancorp, Inc. of Pennsylvania 1,400 14,056
 Pulaski Financial Corp. 1,000 7,570
 Renasant Corp. 2,475 36,754
 Republic Bancorp, Inc., Class A 1,448 28,902
 Republic First Bancorp, Inc. (a) 1,946 8,835
 Riverview Bancorp, Inc. 200 740
 Rockville Financial, Inc. 1,300 13,975
 Rodman & Renshaw Capital Group, Inc. (a) 5,300 31,906
 Roma Financial Corp. 900 11,187
 Rome Bancorp, Inc. 2,000 16,600
 Royal Bancshares of Pennsylvania, Class A (a) 785 1,217
 S&T Bancorp, Inc. 3,000 38,880
 SCBT Financial Corp. 1,200 33,720

 7

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 SVB Financial Group (a) 4,275 $ 184,979
 SY Bancorp, Inc. 1,310 30,248
 Sandy Spring Bancorp, Inc. 2,050 33,374
 Santander BanCorp (a) 703 6,854
 Savannah Bancorp, Inc. 188 1,538
 Seacoast Banking Corp. of Florida 2,970 7,484
 Shore Bancshares, Inc. 850 14,221
 Sierra Bancorp 800 9,608
 Signature Bank (a) 5,600 162,400
 Simmons First National Corp., Class A 1,500 43,215
 Smithtown Bancorp, Inc. 1,100 12,694
 The South Financial Group, Inc. 27,855 40,947
 Southside Bancshares, Inc. 1,735 39,072
 Southwest Bancorp, Inc. 2,200 30,888
 Southwest Georgia Financial Corp. 132 1,016
 State Bancorp, Inc. 1,425 12,041
 StellarOne Corp. 2,425 35,769
 Sterling Bancorp 2,605 18,808
 Sterling Bancshares, Inc. 10,325 75,476
 Sterling Financial Corp. 12,643 25,286
 Suffolk Bancorp 1,200 35,532
 Summit Financial Group, Inc. 500 2,625
 Sun Bancorp, Inc. (a) 2,109 11,136
 Superior Bancorp (a) 250 610
 Susquehanna Bancshares, Inc. 9,700 57,133
 Synovus Financial Corp. 46,790 175,463
 TCF Financial Corp. 15,290 199,382
 TF Financial Corp. 100 1,875
 TFS Financial Corp. 10,500 124,950
 Teche Holding Co. 200 6,620
 Texas Capital Bancshares, Inc. (a) 5,600 94,304
 TierOne Corp. (a) 1,100 3,663
 Tompkins Trustco, Inc. 832 36,358
 Tower Bancorp, Inc. 400 10,508
 Towne Bank (c) 2,600 33,150
 Trico Bancshares 1,600 26,240
 TrustCo Bank Corp. NY 8,360 52,250
 Trustmark Corp. 6,100 116,205
 UCBH Holdings, Inc. (c) 28,250 22,600
 UMB Financial Corp. 3,420 138,305
 Umpqua Holdings Corp. 11,866 125,780
 Union Bankshares Corp. 1,450 18,053
 United Bancorp, Inc. 336 2,856
 United Bankshares, Inc. (c) 4,800 94,032
 United Community Banks, Inc. (a)(c) 5,500 27,500

 8

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 United Community Financial Corp. (a) 1,678 $ 2,920
 United Financial Bancorp, Inc. 1,100 12,738
 United Security Bancshares (a) 206 927
 United Western Bancorp, Inc. 1,600 6,352
 Univest Corp. of Pennsylvania 1,400 30,338
 Valley National Bancorp 17,922 220,261
 ViewPoint Financial Group 2,100 29,484
 Virginia Commerce Bancorp (a) 3,080 12,289
 W Holding Co., Inc. (c) 205 2,747
 WSFS Financial Corp. 900 23,976
 WVS Financial Corp. 200 2,960
 Washington Federal, Inc. 14,021 236,394
 Washington Trust Bancorp, Inc. 1,300 22,776
 Waterstone Financial, Inc. (a) 600 3,036
 Wayne Savings Bancshares, Inc. 151 903
 Webster Financial Corp. 6,973 86,953
 WesBanco, Inc. 2,789 43,118
 West Bancorp., Inc. 840 4,166
 West Coast Bancorp 2,200 5,456
 Westamerica Bancorp. 3,700 192,400
 Western Alliance Bancorp (a) 6,400 40,384
 Westfield Financial, Inc. 4,000 33,880
 Whitney Holding Corp. 10,025 95,639
 Wilmington Trust Corp. 9,300 132,060
 Wilshire Bancorp, Inc. 4,000 29,360
 Wintrust Financial Corp. 3,450 96,462
 Yardkin Valley Financial Corp. 1,200 5,604
 ----------------
 12,001,962
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BEVERAGES - 0.3% Boston Beer Co., Inc., Class A (a) 1,300 48,204
 Central European Distribution Corp. (a) 6,073 198,951
 Coca-Cola Bottling Co. Consolidated 400 19,372
 Hansen Natural Corp. (a) 8,800 323,312
 Jamba, Inc. (a) 6,000 11,160
 Jones Soda Co. (a) 4,200 3,528
 National Beverage Corp. (a) 2,160 24,862
 PepsiAmericas, Inc. 6,327 180,699
 Reddy Ice Holdings, Inc. (a) 1,000 5,440
 Willamette Valley Vineyards, Inc. (a) 800 3,320
 ----------------
 818,848
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CHEMICALS - 2.3% Aceto Corp. 2,725 17,985
 Albemarle Corp. 11,000 380,600
 American Vanguard Corp. 1,300 10,803
 Arch Chemicals, Inc. 2,700 80,973
 Ashland, Inc. 7,300 315,506
 Balchem Corp. 2,000 52,600

 9

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Cabot Corp. 5,300 $ 122,483
 Calgon Carbon Corp. (a) 7,400 109,742
 Calumet Specialty Products Partners LP 1,400 22,176
 Cambrex Corp. (a) 3,100 19,530
 Celanese Corp., Series A 16,300 407,500
 Cytec Industries, Inc. 5,100 165,597
 Ferro Corp. 6,700 59,630
 Georgia Gulf Corp. (a) 256 7,680
 H.B. Fuller Co. 5,300 110,770
 Hammond Industries, Inc. (a) 6,800 68
 Hawkins, Inc. 1,900 44,384
 Huntsman Corp. 18,300 166,713
 ICO, Inc. (a) 3,300 15,411
 Innophos Holdings, Inc. 1,200 22,200
 KMG Chemicals, Inc. 1,750 19,548
 Koppers Holdings, Inc. 2,200 65,230
 Kronos Worldwide, Inc. 482 4,969
 LSB Industries, Inc. (a) 2,400 37,368
 Lubrizol Corp. 7,915 565,606
 Material Sciences Corp. (a) 900 1,755
 Metabolix, Inc. (a) 2,500 25,700
 Minerals Technologies, Inc. 2,100 99,876
 The Mosaic Co. 17,600 846,032
 NL Industries, Inc. 900 6,030
 Nanophase Technologies Corp. (a) 3,000 3,450
 NewMarket Corp. 1,520 141,421
 OM Group, Inc. (a) 3,800 115,482
 Olin Corp. 8,792 153,332
 Omnova Solutions, Inc. (a) 2,400 15,552
 Penford Corp. 2,100 15,057
 PolyOne Corp. (a) 9,500 63,365
 Polypore International, Inc. (a) 2,100 27,111
 Quaker Chemical Corp. 2,100 46,053
 RPM International, Inc. 13,700 253,313
 Rentech, Inc. (a)(c) 30,300 49,086
 Rockwood Holdings, Inc. (a) 5,000 102,850
 Schulman A, Inc. 3,100 61,783
 Senomyx, Inc. (a) 3,400 13,702
 Sensient Technologies Corp. 5,000 138,850
 Solutia, Inc. (a) 15,097 174,823
 Spartech Corp. 3,400 36,618
 Stepan Co. 1,300 78,104
 TOR Minerals International, Inc. (a) 1,300 638
 Terra Industries, Inc. (a) 10,800 374,436
 Terra Nitrogen Co. LP 700 72,961
 Tredegar Corp. 2,500 36,250

 10

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Valhi, Inc. 1,240 $ 15,029
 Valspar Corp. 11,300 310,863
 W.R. Grace & Co. (a) 6,300 136,962
 Westlake Chemical Corp. 2,100 53,970
 Zep, Inc. 1,500 24,375
 Zoltek Cos., Inc. (a)(c) 3,100 32,550
 ----------------
 6,352,451
------------------------------------------------------------------------------------------------------------------------------------
CONSTRUCTION & MATERIALS - 2.0% A.O. Smith Corp. 3,500 133,350
 Aaon, Inc. 1,550 31,124
 Acuity Brands, Inc. 4,500 144,945
 Advanced Environmental Recycling Technologies, Inc. 7,600 4,484
 American Biltrite, Inc. (a) 200 310
 American Woodmark Corp. 1,000 19,340
 Ameron International Corp. 1,000 69,980
 Apogee Enterprises, Inc. 3,100 46,562
 Argan, Inc. (a) 900 12,096
 Armstrong World Industries, Inc. (a) 1,800 62,028
 Baran Group Ltd. (a) 102 816
 BlueLinx Holdings, Inc. (a) 2,000 8,020
 Builders FirstSource, Inc. (a)(c) 1,900 8,284
 Building Material Holding Corp. (a) 2,180 120
 EMCOR Group, Inc. (a) 7,200 182,304
 Eagle Materials, Inc. 5,020 143,471
 Gibraltar Industries, Inc. 3,400 45,118
 Granite Construction, Inc. 4,550 140,777
 Griffon Corp. (a) 5,628 56,674
 Headwaters, Inc. (a) 7,500 29,025
 Hill International, Inc. (a) 3,400 24,140
 Insituform Technologies, Inc., Class A (a) 3,900 74,646
 Insteel Industries, Inc. 1,900 22,705
 Integrated Electrical Services, Inc. (a) 1,500 12,075
 KBR, Inc. 19,200 447,168
 Layne Christensen Co. (a) 2,100 67,305
 Lennox International, Inc. 5,600 202,272
 Louisiana-Pacific Corp. (a) 13,400 89,378
 MDU Resources Group, Inc. 18,325 382,076
 MYR Group, Inc. (a) 2,600 54,834
 Martin Marietta Materials, Inc. (c) 4,900 451,143
 McDermott International, Inc. (a) 27,500 694,925
 Mueller Water Products, Inc., Series A 12,100 66,308
 NCI Building Systems, Inc. (a)(c) 6,200 19,840
 Northwest Pipe Co. (a) 1,200 40,236
 Omega Flex, Inc. 500 8,385
 Orion Marine Group, Inc. (a) 2,400 49,296
 Owens Corning, Inc. (a) 9,700 217,765
 PGT, Inc. (a) 625 1,794

 11

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Pike Electric Corp. (a) 2,700 $ 32,346
 Quanex Building Products Corp. 3,050 43,798
 Quixote Corp. (a) 1,000 2,490
 Shaw Group, Inc. (a) 9,900 317,691
 Simpson Manufacturing Co., Inc. 4,100 103,566
 Sterling Construction Co., Inc. (a) 1,400 25,074
 TRC Cos., Inc. (a) 800 2,760
 Texas Industries, Inc. (c) 2,800 117,572
 Trex Co., Inc. (a)(c) 1,800 32,760
 Tutor Perini Corp. (a) 3,200 68,160
 U.S. Concrete, Inc. (a) 5,600 9,688
 USG Corp. (a)(c) 7,400 127,132
 Universal Forest Products, Inc. 2,000 78,920
 Valmont Industries, Inc. 2,200 187,396
 Watsco, Inc. 3,700 199,467
 Watts Water Technologies, Inc., Class A 3,200 96,800
 ----------------
 5,510,739
------------------------------------------------------------------------------------------------------------------------------------
ELECTRICITY - 2.3% Allete, Inc. 3,100 104,067
 Alliant Energy Corp. 13,300 370,405
 Black Hills Corp. 4,000 100,680
 CH Energy Group, Inc. 1,700 75,327
 Calpine Corp. (a) 42,500 489,600
 Central Vermont Public Service Corp. 1,600 30,880
 Cleco Corp. 6,300 158,004
 Covanta Holding Corp. (a) 15,480 263,160
 DPL, Inc. 14,035 366,313
 El Paso Electric Co. (a) 5,500 97,185
 The Empire District Electric Co. 5,300 95,877
 Great Plains Energy, Inc. 16,612 298,185
 Hawaiian Electric Industries, Inc. 11,720 212,366
 IDACORP, Inc. 4,800 138,192
 ITC Holdings Corp. 6,300 286,335
 MGE Energy, Inc. 2,400 87,552
 Mirant Corp. (a) 17,500 287,525
 NRG Energy, Inc. (a) 30,460 858,667
 NSTAR 11,500 365,930
 NV Energy, Inc. 24,800 287,432
 NorthWestern Corp. 4,200 102,606
 Ormat Technologies, Inc. 2,000 81,640
 Otter Tail Corp. 3,500 83,755
 Portland General Electric Co. 9,800 193,256
 RRI Energy, Inc. (a) 39,500 282,030
 Renegy Holdings, Inc. (a) 396 535
 UIL Holdings Corp. 2,733 72,124

 12

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 US Geothermal, Inc. (a) 13,700 $ 21,372
 Unisource Energy Corp. 4,100 126,075
 Unitil Corp. 900 20,205
 Westar Energy, Inc. 13,325 259,971
 ----------------
 6,217,251
------------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC & ELECTRICAL EQUIPMENT - ATMI, Inc. (a) 3,500 63,525
3.3% AVX Corp. 5,300 63,229
 AZZ, Inc. (a) 1,400 56,238
 ActivIdentity Corp. (a) 3,700 10,249
 Active Power, Inc. (a) 3,500 3,010
 Adept Technology, Inc. (a) 40 128
 Advanced Battery Technologies, Inc. (a)(c) 9,200 39,928
 Allied Motion Technologies, Inc. (a) 115 269
 Altair Nanotechnologies, Inc. (a)(c) 8,900 10,235
 American Science & Engineering, Inc. 1,400 95,256
 American Superconductor Corp. (a)(c) 5,300 177,762
 Ametek, Inc. 12,600 439,866
 Anaren, Inc. (a) 1,700 28,900
 Anixter International, Inc. (a) 4,200 168,462
 Arrow Electronics, Inc. (a) 12,900 363,135
 Avnet, Inc. (a) 16,264 422,376
 Badger Meter, Inc. 2,300 88,987
 Baldor Electric Co. 4,600 125,764
 Beacon Power Corp. (a)(c) 7,730 5,449
 Bel Fuse, Inc. 600 11,418
 Belden, Inc. 5,100 117,810
 Benchmark Electronics, Inc. (a) 7,184 129,312
 Brady Corp. 5,200 149,344
 C&D Technologies, Inc. (a)(c) 2,800 6,020
 CTS Corp. 4,000 37,200
 Capstone Turbine Corp. (a)(c) 32,700 43,164
 Checkpoint Systems, Inc. (a) 4,300 70,692
 Cogent, Inc. (a) 4,200 42,420
 Cognex Corp. 4,085 66,912
 Coherent, Inc. (a) 2,500 58,300
 Coleman Cable, Inc. (a) 2,300 10,074
 CommScope, Inc. (a) 10,216 305,765
 Comverge, Inc. (a) 3,200 39,072
 Cyberoptics Corp. (a) 1,100 7,403
 DDi Corp. (a) 3,627 15,415
 Daktronics, Inc. 4,200 35,994
 Digital Angel Corp. (a) 588 635
 Dionex Corp. (a) 2,000 129,940
 ESCO Technologies, Inc. (a) 2,800 110,320
 Echelon Corp. (a) 3,800 48,906
 Electro Scientific Industries, Inc. (a) 3,400 45,526

 13

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Encore Wire Corp. 2,527 $ 56,453
 EnerNOC, Inc. (a) 1,800 59,688
 EnerSys (a) 5,500 121,660
 FEI Co. (a) 4,100 101,065
 Faro Technologies, Inc. (a) 2,200 37,796
 Franklin Electric Co., Inc. 2,200 63,074
 General Cable Corp. (a) 6,600 258,390
 GrafTech International Ltd. (a) 13,100 192,570
 Greatbatch, Inc. (a) 2,800 62,916
 Houston Wire & Cable Co. 2,400 26,520
 Hubbell, Inc., Class B 5,400 226,800
 II-VI, Inc. (a) 2,800 71,232
 IPG Photonics Corp. (a) 3,000 45,600
 Intevac, Inc. (a) 2,400 32,256
 IntriCon Corp. (a) 500 1,635
 Itron, Inc. (a) 4,900 314,286
 Keithley Instruments, Inc. 1,200 6,648
 L-1 Identity Solutions, Inc. (a) 8,851 61,868
 LSI Industries, Inc. 2,950 19,618
 LaBarge, Inc. (a) 1,100 12,375
 Landauer, Inc. 1,000 54,980
 LeCroy Corp. (a) 900 3,645
 Lightpath Technologies, Inc., Class A (a) 100 248
 Lime Energy Co. (a) 700 3,885
 Littelfuse, Inc. (a) 2,370 62,189
 MTS Systems Corp. 1,900 55,499
 Mace Security International, Inc. (a) 450 468
 Magnetek, Inc. (a) 1,700 2,652
 Maxwell Technologies, Inc. (a) 2,900 53,447
 Measurement Specialties, Inc. (a) 1,500 15,315
 Merix Corp. (a) 2,700 8,127
 Methode Electronics, Inc. 4,300 37,281
 Mettler Toledo International, Inc. (a) 4,100 371,419
 Microvision, Inc. (a)(c) 7,600 41,876
 Multi-Fineline Electronix, Inc. (a) 1,100 31,581
 NU Horizons Electronics Corp. (a) 2,900 11,484
 NVE Corp. (a) 900 47,844
 Napco Security Technologies, Inc. (a) 3,700 4,921
 National Instruments Corp. 6,200 171,306
 Newport Corp. (a) 4,700 41,172
 OSI Systems, Inc. (a) 2,200 40,238
 Orion Energy Systems, Inc. (a) 2,600 8,138
 Park Electrochemical Corp. 2,050 50,533
 Planar Systems, Inc. (a) 900 2,412
 Plexus Corp. (a) 4,300 113,262
 Powell Industries, Inc. (a) 1,100 42,229

 14

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Power-One, Inc. (a) 8,800 $ 17,160
 Powerwave Technologies, Inc. (a) 14,400 23,040
 Regal-Beloit Corp. 3,705 169,356
 Research Frontiers, Inc. (a)(c) 2,900 11,948
 Richardson Electronics Ltd. 800 4,080
 Rofin-Sinar Technologies, Inc. (a) 3,200 73,472
 Rogers Corp. (a) 2,000 59,940
 Roper Industries, Inc. 9,900 504,702
 Rubicon Technology, Inc. (a) 1,600 23,744
 Sanmina-SCI Corp. (a) 9,433 81,124
 SatCon Technology Corp. (a) 5,900 10,089
 Servotronics, Inc. 400 2,940
 Sielox, Inc. (a) 154 4
 Sigmatron International, Inc. (a) 1,200 3,816
 Spectrum Control, Inc. (a) 1,000 8,490
 StockerYale, Inc. (a) 100 13
 SunPower Corp., Class B (a) 3,949 99,633
 Synthesis Energy Systems, Inc. (a) 700 840
 TTM Technologies, Inc. (a) 4,700 53,909
 Technitrol, Inc. 4,500 41,445
 Technology Research Corp. 1,500 4,905
 Thomas & Betts Corp. (a) 5,865 176,419
 Tollgrade Communications, Inc. (a) 800 5,184
 Trimble Navigation Ltd. (a) 12,834 306,861
 Ultralife Batteries, Inc. (a) 2,200 13,332
 Universal Display Corp. (a) 3,500 41,790
 Valence Technology, Inc. (a) 10,100 18,180
 Veeco Instruments, Inc. (a) 3,800 88,616
 Vicor Corp. 3,800 29,336
 Vishay Intertechnology, Inc. (a) 18,061 142,682
 WESCO International, Inc. (a) 5,700 164,160
 X-Rite, Inc. (a) 1,100 2,211
 Zebra Technologies Corp., Class A (a) 6,717 174,172
 Zygo Corp. (a) 1,700 11,526
 ----------------
 9,062,130
------------------------------------------------------------------------------------------------------------------------------------
FINANCIAL SERVICES - 4.3% Advance America, Cash Advance Centers, Inc. 5,500 30,800
 Advanta Corp., Class B 4,950 2,772
 Affiliated Managers Group, Inc. (a)(b) 5,100 331,551
 AllianceBernstein Holding LP 3,000 81,840
 AmeriCredit Corp. (a)(c) 6,750 106,582
 American Physicians Service Group, Inc. 800 18,432
 Ampal-American Israel Corp., Class A (a) 1,200 2,436
 Arbinet-Thexchange, Inc. (a) 4,700 11,045
 Asset Acceptance Capital Corp. (a) 2,100 15,225
 Asta Funding, Inc. 1,600 12,096

 15

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 BGC Partners, Inc. 4,100 $ 17,548
 BlackRock, Inc. (d) 2,600 563,732
 Blackstone Group LP 11,000 156,200
 Broadpoint Gleacher Securities, Inc. (a) 6,000 50,040
 CIT Group, Inc. (c) 56,102 67,883
 Calamos Asset Management, Inc., Class A 2,200 28,732
 Cash America International, Inc. 3,200 96,512
 Cohen & Steers, Inc. 1,900 45,600
 CompuCredit Holdings Corp. (a)(c) 5,400 25,434
 Cowen Group, Inc. (a) 2,400 17,088
 Credit Acceptance Corp. (a) 281 9,045
 Deerfield Capital Corp. (a) 354 2,478
 Diamond Hill Investments Group 300 17,391
 Dollar Financial Corp. (a) 2,600 41,652
 Duff & Phelps Corp. 2,000 38,320
 Eaton Vance Corp. 12,600 352,674
 Encore Capital Group, Inc. (a) 1,600 21,520
 Epoch Holding Corp. 2,300 20,125
 Evercore Partners, Inc., Class A 1,200 35,064
 Ezcorp, Inc. (a) 6,800 92,888
 FCStone Group, Inc. (a) 4,850 23,377
 The FINOVA Group, Inc. (a) 900 12
 Fannie Mae (a)(c) 139,800 212,496
 Federal Agricultural Mortgage Corp., Class B 2,800 21,000
 Fidelity National Title Group, Inc., Class A 27,464 414,157
 Financial Federal Corp. 2,800 69,104
 First Cash Financial Services, Inc. (a) 3,100 53,103
 The First Marblehead Corp. (a) 6,200 13,640
 Fortress Investment Group LLC (a) 7,400 38,480
 Freddie Mac (a)(c) 83,700 150,660
 GAMCO Investors, Inc., Class A 700 31,990
 GFI Group, Inc. 6,400 46,272
 GLG Partners, Inc. (c) 20,600 83,018
 Greenhill & Co., Inc. 1,300 116,454
 Icahn Enterprises LP 800 31,968
 Interactive Brokers Group, Inc., Class A (a) 4,700 93,389
 International Assets Holding Corp., Inc. (a) 1,000 16,510
 Intersections, Inc. (a) 1,000 5,770
 Investment Technology Group, Inc. (a) 4,900 136,808
 JMP Group, Inc. 3,400 32,844
 Jefferies Group, Inc., New Shares (a) 12,300 334,929
 KBW, Inc. (a) 3,400 109,548
 KKR Financial Holdings LLC 12,400 57,288
 Knight Capital Group, Inc., Class A (a) 12,100 263,175
 LaBranche & Co., Inc. (a) 6,300 21,420
 Ladenburg Thalmann Financial Services, Inc. (a) 5,581 4,018

 16

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Lazard Ltd., Class A 5,100 $ 210,681
 MF Global Ltd. (a) 10,900 79,243
 MGIC Investment Corp. (c) 16,500 122,265
 MSCI, Inc. (a) 11,100 328,782
 MarketAxess Holdings, Inc. (a) 1,900 22,895
 Marlin Business Services, Inc. (a) 2,800 22,904
 Medallion Financial Corp. 2,800 23,408
 Merriman Curhan Ford Group, Inc. (a) 900 1,296
 MicroFinancial, Inc. 500 1,735
 MoneyGram International, Inc. (a) 5,000 15,700
 National Financial Partners Corp. 4,200 36,624
 Nelnet, Inc., Class A (a) 3,500 43,540
 NewStar Financial, Inc. (a) 2,900 9,541
 Och-Ziff Capital Management Group LLC (a) 3,500 42,595
 Ocwen Financial Corp. (a) 10,100 114,332
 optionsXpress Holdings, Inc. 5,400 93,312
 The PMI Group, Inc. 13,100 55,675
 Penson Worldwide, Inc. (a) 2,700 26,298
 Pico Holdings, Inc. (a) 2,000 66,700
 Piper Jaffray Cos. (a) 2,245 107,131
 Portfolio Recovery Associates, Inc. (a) 1,700 77,061
 Primus Guaranty Ltd. (a) 3,200 13,664
 Pzena Investment Management, Inc., Class A 870 7,108
 Radian Group, Inc. 10,744 113,672
 Raymond James Financial, Inc. (c) 11,350 264,228
 Resource America, Inc., Class A 1,000 4,810
 Rewards Network, Inc. (a) 966 13,273
 SEI Investments Co. 16,720 329,050
 SWS Group, Inc. 2,965 42,696
 Safeguard Scientifics, Inc. (a) 2,233 24,496
 Sanders Morris Harris Group, Inc. 3,800 22,458
 Siebert Financial Corp. (a) 3,300 7,755
 Stewart Information Services Corp. 2,200 27,214
 Stifel Financial Corp. (a) 2,900 159,210
 Student Loan Corp. 420 19,488
 TD Ameritrade Holding Corp. (a) 26,930 528,367
 Teton Advisors, Inc. (a) 10 16
 Thomas Weisel Partners Group, Inc. (a) 2,800 14,952
 TradeStation Group, Inc. (a) 4,200 34,230
 Tree.com, Inc. (a) 1,743 13,160
 Triad Guaranty, Inc. (a)(c) 2,900 3,683
 U.S. Global Investors, Inc. 1,600 19,728
 Virtus Investment Partners, Inc. (a) 435 6,790
 Visa, Inc., Class A (c) 50,500 3,490,055

 17

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Waddell & Reed Financial, Inc., Class A 10,600 $ 301,570
 Westwood Holdings Group, Inc. 700 24,290
 Wilhelmina International, Inc. (a) 200 20
 World Acceptance Corp. (a) 2,300 57,983
 ----------------
 11,739,819
------------------------------------------------------------------------------------------------------------------------------------
FIXED LINE TELECOMMUNICATIONS - 0.6% 8x8, Inc. (a) 7,300 6,424
 ATSI Communications, Inc. (a) 75 3
 AboveNet, Inc. (a) 1,900 92,644
 Alaska Communications Systems Group, Inc. 4,900 45,325
 Cbeyond Communications, Inc. (a) 4,200 67,746
 Cincinnati Bell, Inc. (a) 22,800 79,800
 Consolidated Communications Holdings, Inc. 4,384 70,188
 D&E Communications, Inc. 999 11,478
 FairPoint Communications, Inc. 28,700 11,767
 General Communication, Inc., Class A (a) 3,400 23,324
 Global Crossing Ltd. (a) 2,595 37,108
 HickoryTech Corp. 800 6,840
 IDT Corp., Class B (a) 1,533 4,584
 Ibasis, Inc. (a) 2,400 5,088
 Iowa Telecommunications Services, Inc. 5,800 73,080
 Level 3 Communications, Inc. (a)(c) 179,388 249,349
 NET2000 Communications, Inc. (a) 300 -
 PAETEC Holding Corp. (a) 18,000 69,660
 Primus Telecommunications Escrow (a) 29,100 -
 RCN Corp. (a) 4,500 41,850
 Shenandoah Telecom Co. 2,000 35,900
 SureWest Communications (a) 800 9,936
 TW Telecom, Inc. (a) 19,300 259,585
 Virgin Media, Inc. 32,955 458,734
 Vonage Holdings Corp. (a)(c) 18,600 25,854
 Warwick Valley Telephone Co. 1,500 17,715
 ----------------
 1,703,982
------------------------------------------------------------------------------------------------------------------------------------
FOOD & DRUG RETAILERS - 0.5% Allion Healthcare, Inc. (a) 3,200 18,720
 Arden Group, Inc., Class A 200 23,900
 Casey's General Stores, Inc. 6,700 210,246
 Core-Mark Holdings Co., Inc. (a) 1,100 31,460
 Dairy Mart Convenience Stores, Inc. (a) 500 -
 drugstore.com, Inc. (a) 3,400 8,262
 The Great Atlantic & Pacific Tea Co., Inc. (a) 3,920 34,927
 Ingles Markets, Inc., Class A 1,800 28,494
 Nash Finch Co. 1,520 41,557
 Natural Health Trends Corp. (a) 240 120
 Omnicare, Inc. 12,500 281,500
 The Pantry, Inc. (a) 3,500 54,880
 PetMed Express, Inc. 3,400 64,090

 18

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Rite Aid Corp. (a)(c) 64,300 $ 105,452
 Ruddick Corp. 4,400 117,128
 Spartan Stores, Inc. 2,700 38,151
 United Natural Foods, Inc. (a) 4,300 102,856
 Village Super Market, Inc., Class A 100 2,947
 Weis Markets, Inc. 1,200 38,340
 Winn-Dixie Stores, Inc. (a) 5,700 74,784
 ----------------
 1,277,814
------------------------------------------------------------------------------------------------------------------------------------
FOOD PRODUCERS - 1.9% Alico, Inc. 400 11,756
 American Italian Pasta Co., Class A (a) 2,300 62,514
 The Andersons, Inc. 2,600 91,520
 B&G Foods, Inc., Class A 5,500 45,045
 Bridgford Foods Corp. (a) 500 4,515
 Bunge Ltd. (c) 15,900 995,499
 Cagle's, Inc., Class A (a) 200 810
 Cal-Maine Foods, Inc. (c) 1,500 40,155
 Calavo Growers, Inc. 1,300 24,674
 Chiquita Brands International, Inc. (a) 4,902 79,216
 Corn Products International, Inc. 7,900 225,308
 Darling International, Inc. (a) 8,900 65,415
 Del Monte Foods Co. 25,300 292,974
 Diamond Foods, Inc. 2,600 82,472
 Farmer Bros. Co. 700 14,490
 Flowers Foods, Inc. 9,018 237,083
 Fresh Del Monte Produce, Inc. (a) 4,700 106,267
 Golden Enterprises, Inc. 600 1,806
 Green Mountain Coffee Roasters, Inc. (a)(c) 4,800 354,432
 Griffin Land & Nurseries, Inc. 600 19,200
 HQ Sustainable Maritime Industries, Inc. (a) 1,200 10,560
 Hain Celestial Group, Inc. (a) 5,939 113,851
 Herbalife Ltd. 7,400 242,276
 Imperial Sugar Co., New Shares 2,412 30,584
 J&J Snack Foods Corp. 1,900 82,061
 John B. Sanfilippo & Son, Inc. (a) 700 8,134
 Lancaster Colony Corp. 2,400 123,048
 Lance, Inc. 3,500 90,370
 Lifeway Foods, Inc. (a) 1,500 16,485
 MGP Ingredients, Inc. (a) 2,900 12,644
 Mannatech, Inc. 3,100 11,873
 Martek Biosciences Corp. (a) 3,700 83,583
 Mead Johnson Nutrition Co. 3,000 135,330
 Medifast, Inc. (a) 2,300 49,956
 Monterey Gourmet Foods, Inc. (a) 700 1,421
 NBTY, Inc. (a) 6,000 237,480
 Nu Skin Enterprises, Inc., Class A 5,800 107,474
 Nutraceutical International Corp. (a) 1,400 15,778

 19

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Nutri/System, Inc. 2,500 $ 38,150
 Omega Protein Corp. (a) 1,400 6,790
 Ralcorp Holdings, Inc. (a) 6,932 405,314
 Reliv International, Inc. 1,600 5,344
 Rocky Mountain Chocolate Factory, Inc. 1,495 13,530
 Sanderson Farms, Inc. 2,650 99,746
 Schiff Nutrition International, Inc. 2,800 14,588
 Seaboard Corp. 40 52,001
 Seneca Foods Corp. (a) 200 5,480
 Smart Balance, Inc. (a) 6,900 42,366
 Smithfield Foods, Inc. (a) 18,958 261,620
 Tasty Baking Co. 400 2,624
 Tootsie Roll Industries, Inc. 2,215 52,673
 TreeHouse Foods, Inc. (a) 3,512 125,273
 USANA Health Sciences, Inc. (a) 1,100 37,521
 Zapata Corp. (a) 800 5,568
 ----------------
 5,296,647
------------------------------------------------------------------------------------------------------------------------------------
FORESTRY & PAPER - 0.2% Boise, Inc. (a) 2,500 13,200
 Brookfield Infrastructure Partners LP 1,500 24,690
 Buckeye Technologies, Inc. (a) 4,300 46,139
 Clearwater Paper Corp. (a) 1,274 52,654
 Deltic Timber Corp. 1,400 64,078
 Domtar Corp. (a) 4,508 158,772
 Kapstone Paper and Packaging Corp. (a) 4,600 37,444
 MAXXAM, Inc. (a) 900 9,045
 Neenah Paper, Inc. 2,900 34,133
 P.H. Glatfelter Co. 4,900 56,252
 Pope Resources, Ltd. LP 300 7,227
 Verso Paper Corp. 2,900 8,671
 Wausau Paper Corp. 5,400 54,000
 ----------------
 566,305
------------------------------------------------------------------------------------------------------------------------------------
GAS, WATER & MULTIUTILITIES - 1.6% AGL Resources, Inc. (b) 8,100 285,687
 American States Water Co. 1,950 70,551
 American Water Works Co., Inc. 10,010 199,599
 Amerigas Partners LP 2,600 93,704
 Aqua America, Inc. 14,217 250,788
 Artesian Resources Corp., Class A 225 3,784
 Atmos Energy Corp. 11,500 324,070
 Avista Corp. 6,000 121,320
 Cadiz, Inc. (a) 2,000 23,400
 California Water Service Group 2,300 89,562
 Chesapeake Utilities Corp. 1,200 37,188
 Connecticut Water Service, Inc. 1,000 22,390
 Delta Natural Gas Co., Inc. 100 2,650
 Energy, Inc. 300 2,550

 20

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Ferrellgas Partners LP (c) 3,700 $ 73,704
 Florida Public Utilities Co. 199 2,418
 Inergy Holdings LP 1,100 51,040
 Inergy LP 3,700 110,186
 The Laclede Group, Inc. 3,100 99,696
 Middlesex Water Co. 1,366 20,599
 National Fuel Gas Co. 8,050 368,771
 New Jersey Resources Corp. 5,560 201,884
 Northwest Natural Gas Co. 2,900 120,814
 Oneok, Inc. 10,590 387,806
 PNM Resources, Inc. 10,500 122,640
 Pennichuck Corp. 477 10,380
 Piedmont Natural Gas Co. 8,900 213,066
 RGC Resources, Inc. 100 2,754
 SJW Corp. 1,400 31,990
 South Jersey Industries, Inc. 4,100 144,730
 Southwest Gas Corp. 4,800 122,784
 Southwest Water Co. 5,671 27,901
 Star Gas Partners LP 3,100 11,253
 UGI Corp. 11,460 287,188
 Vectren Corp. 8,600 198,144
 WGL Holdings, Inc. 5,200 172,328
 ----------------
 4,309,319
------------------------------------------------------------------------------------------------------------------------------------
GENERAL INDUSTRIALS - 1.2% AEP Industries, Inc. (a) 1,000 39,900
 Actuant Corp., Class A 6,300 101,178
 American International Industries, Inc. (a) 3,400 3,774
 AptarGroup, Inc. 6,500 242,840
 Bway Holding Co. (a) 600 11,106
 Carlisle Cos., Inc. 7,000 237,370
 Colfax Corp. (a) 1,900 20,197
 Crown Holdings, Inc. (a) 18,000 489,600
 Graphic Packaging Holding Co. (a) 8,800 20,328
 Greif, Inc. 3,600 198,180
 Harsco Corp. 8,900 315,149
 Kennametal, Inc. 8,800 216,568
 Landec Corp. (a) 3,800 24,320
 Myers Industries, Inc. 2,120 22,832
 Packaging Corp. of America 10,900 222,360
 Raven Industries, Inc. 1,900 50,787
 Rock-Tenn Co., Class A 4,900 230,839
 Silgan Holdings, Inc. 2,900 152,917
 Sonoco Products Co. 10,600 291,924
 Teleflex, Inc. 4,200 202,902
 Temple-Inland, Inc. 11,200 183,904
 Trimas Corp. (a) 3,600 18,360
 ----------------
 3,297,335
------------------------------------------------------------------------------------------------------------------------------------

 21

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
GENERAL RETAILERS - 5.1% 1-800-FLOWERS.COM, Inc., Class A (a) 4,470 $ 15,422
 99 Cents Only Stores (a) 3,866 51,998
 A.C. Moore Arts & Crafts, Inc. (a) 3,100 11,160
 Aaron's, Inc. (b) 5,275 139,260
 Advance Auto Parts, Inc. (b) 11,500 451,720
 Aeropostale, Inc. (a) 8,225 357,541
 Amerco, Inc. (a) 800 36,688
 America's Car Mart, Inc. (a) 1,650 39,517
 American Eagle Outfitters, Inc. 21,065 355,156
 American Public Education, Inc. (a) 2,800 97,272
 AnnTaylor Stores Corp. (a) 7,575 120,367
 Asbury Automotive Group, Inc. 4,600 58,328
 Autobytel, Inc. (a) 8,000 5,600
 BJ's Wholesale Club, Inc. (a) 7,000 253,540
 Barnes & Noble, Inc. 5,400 119,988
 Beacon Roofing Supply, Inc. (a) 4,900 78,302
 bebe Stores, Inc. 3,150 23,184
 Bidz.com, Inc. (a) 700 2,436
 Big 5 Sporting Goods Corp. 3,100 46,810
 Blockbuster, Inc., Class A (a) 30,300 32,421
 Blue Nile, Inc. (a) 1,600 99,392
 The Bon-Ton Stores, Inc. 2,600 18,928
 Books-A-Million, Inc. 1,200 14,448
 Borders Group, Inc. (a) 6,200 19,282
 Bridgepoint Education, Inc. (a) 700 10,682
 Brown Shoe Co., Inc. 4,700 37,694
 The Buckle, Inc. (c) 3,725 127,171
 Build-A-Bear Workshop, Inc. (a) 1,500 7,305
 CPI Corp. 1,200 14,964
 Cabela's, Inc., Class A (a)(c) 6,400 85,376
 Cache, Inc. (a) 2,300 11,408
 Capella Education Co. (a) 1,900 127,946
 CarMax, Inc. (a) 21,700 453,530
 Career Education Corp. (a) 7,868 191,822
 Casual Male Retail Group, Inc. (a) 3,100 10,664
 The Cato Corp., Class A 4,150 84,203
 Charming Shoppes, Inc. (a) 13,855 68,028
 Chemed Corp. 2,500 109,725
 Chico's FAS, Inc. (a) 18,900 245,700
 The Children's Place Retail Stores, Inc. (a) 3,405 102,014
 Christopher & Banks Corp. 2,238 15,151
 Citi Trends, Inc. (a) 1,600 45,552
 Clean Energy Fuels Corp. (a) 5,700 82,137
 Coldwater Creek, Inc. (a) 7,470 61,254
 Collective Brands, Inc. (a) 6,400 110,912
 Collectors Universe, Inc. (a) 1,870 10,509

 22

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Conn's, Inc. (a) 800 $ 9,032
 Copart, Inc. (a) 7,350 244,093
 Corinthian Colleges, Inc. (a) 10,135 188,105
 Cost Plus, Inc. (a) 4,700 9,541
 DSW, Inc., Class A (a) 2,600 41,522
 dELiA*s, Inc. (a) 5,199 11,178
 Destination Maternity Corp. (a) 1,200 21,756
 Dick's Sporting Goods, Inc. (a) 9,500 212,800
 Dillard's, Inc., Class A (c) 7,400 104,340
 Dollar Tree, Inc. (a) 10,805 525,987
 Dress Barn, Inc. (a) 5,506 98,723
 Ediets.Com, Inc. (a)(c) 600 1,050
 The Finish Line, Inc., Class A 4,947 50,262
 Finlay Enterprises, Inc. (a) 600 3
 Foot Locker, Inc. 16,500 197,175
 Fred's, Inc. 4,150 52,830
 GSI Commerce, Inc. (a) 3,000 57,930
 Gaiam, Inc. (a) 2,460 17,171
 Gander Mountain Co. (a) 1,400 7,196
 Genesco, Inc. (a) 2,300 55,361
 Grand Canyon Education, Inc. (a) 1,300 23,179
 Group 1 Automotive, Inc. 3,500 93,975
 Guess?, Inc. 6,200 229,648
 Gymboree Corp. (a) 3,600 174,168
 HSN, Inc. (a) 3,860 62,841
 Haverty Furniture Cos., Inc. 2,100 24,801
 Hibbett Sports, Inc. (a) 4,518 82,363
 Hillenbrand, Inc. 6,945 141,470
 Hot Topic, Inc. (a) 5,650 42,319
 ITT Educational Services, Inc. (a) 4,610 508,990
 Internet Brands, Inc., Class A (a) 1,300 10,374
 J. Crew Group, Inc. (a) 5,500 197,010
 Jackson Hewitt Tax Service, Inc. 6,300 32,130
 Jo-Ann Stores, Inc. (a) 2,865 76,868
 Jos. A. Bank Clothiers, Inc. (a) 2,556 114,432
 K12, Inc. (a)(c) 2,300 37,904
 Kirkland's, Inc. (a) 2,100 29,925
 Lazare Kaplan International, Inc. (a) 300 750
 Learning Tree International, Inc. (a) 1,800 20,502
 Liquidity Services, Inc. (a) 2,900 29,928
 Lithia Motors, Inc., Class A 2,100 32,739
 Lumber Liquidators, Inc. (a) 1,100 23,859
 Mac-Gray Corp. (a) 500 5,390
 MarineMax, Inc. (a) 4,400 34,364
 Matthews International Corp., Class A 3,200 113,216
 Men's Wearhouse, Inc. 4,700 116,090

 23

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Midas, Inc. (a) 2,200 $ 20,680
 Monro Muffler, Inc. 3,025 96,165
 Navarre Corp. (a) 5,600 12,320
 NetFlix, Inc. (a)(c) 5,720 264,092
 New York & Co. (a) 2,600 13,312
 Nobel Learning Communities, Inc. (a) 100 938
 OfficeMax, Inc. 10,000 125,800
 Overstock.com, Inc. (a) 1,300 19,071
 PC Mall, Inc. (a) 2,100 14,406
 Pacific Sunwear of California, Inc. (a) 7,225 37,209
 Penske Auto Group, Inc. 4,200 80,556
 The Pep Boys - Manny, Moe & Jack 5,000 48,850
 Pet DRx Corp. (a) 4,900 2,548
 PetSmart, Inc. 15,500 337,125
 Pier 1 Imports, Inc. (a) 8,800 34,056
 Pre-Paid Legal Services, Inc. (a) 930 47,244
 PriceSmart, Inc. 1,950 36,563
 The Princeton Review, Inc. (a) 1,600 6,720
 The Providence Service Corp. (a) 2,300 26,818
 RealNetworks, Inc. (a) 9,800 36,456
 Regis Corp. 5,100 79,050
 Rent-A-Center, Inc. (a) 7,000 132,160
 Retail Ventures, Inc. (a) 2,200 11,594
 Rollins, Inc. 5,050 95,193
 Ross Stores, Inc. 14,000 668,780
 Rush Enterprises, Inc., Class A (a) 3,850 49,742
 Saks, Inc. (a) 16,300 111,166
 Sally Beauty Co., Inc. (a) 8,470 60,222
 Service Corp. International 25,400 178,054
 Sharper Image Corp. (a)(c) 2,800 112
 Shoe Carnival, Inc. (a) 1,800 27,756
 Shutterfly, Inc. (a) 2,700 44,901
 Signet Jewelers Ltd. (a) 8,800 231,704
 Sonic Automotive, Inc. 3,900 40,950
 Sotheby's Holdings, Inc., Class A 7,400 127,502
 Sourceforge, Inc. (a) 3,600 4,536
 Stage Stores, Inc. 3,300 42,768
 Standard Parking Corp. (a) 500 8,745
 Stein Mart, Inc. (a) 4,100 52,111
 Stewart Enterprises, Inc., Class A 10,200 53,346
 Stonemor Partners LP 1,800 30,888
 Strayer Education, Inc. (c) 1,700 370,056
 Suburban Propane Partners LP 1,500 62,730
 Susser Holdings Corp. (a) 1,700 21,369
 The Talbots, Inc. 3,300 30,459
 Ticketmaster Entertainment (a) 3,860 45,123

 24

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Titan Machinery, Inc. (a) 2,100 $ 26,292
 Tractor Supply Co. (a) 4,800 232,416
 Trans World Entertainment Corp. (a) 2,400 2,184
 Tuesday Morning Corp. (a) 3,100 12,896
 Tween Brands, Inc. (a) 4,600 38,594
 Ulta Salon Cosmetics & Fragrance, Inc. (a) 3,857 63,679
 Urban Outfitters, Inc. (a) 15,300 461,601
 VCA Antech, Inc. (a) 9,040 243,086
 ValueVision Media, Inc., Class A (a) 2,800 9,268
 Weight Watchers International, Inc. 3,750 102,900
 West Marine, Inc. (a) 1,600 12,576
 The Wet Seal, Inc., Class A (a) 9,275 35,060
 Williams-Sonoma, Inc. 10,200 206,346
 Winmark Corp. (a) 600 12,378
 Zale Corp. (a) 4,200 30,030
 ----------------
 13,959,049
------------------------------------------------------------------------------------------------------------------------------------
HEALTH CARE EQUIPMENT & SERVICES - AMERIGROUP Corp. (a) 7,200 159,624
5.3% ATS Medical, Inc. (a) 5,400 14,472
 Abaxis, Inc. (a) 2,800 74,900
 Abiomed, Inc. (a) 3,700 35,927
 Accuray, Inc. (a) 4,800 31,200
 AdvanSource Biomaterials Corp. (a) 1,476 443
 Air Methods Corp. (a) 1,600 52,112
 Align Technology, Inc. (a) 6,500 92,430
 Alliance Healthcare Services, Inc. (a) 3,300 18,678
 Allied Healthcare International, Inc. (a) 3,100 8,680
 Almost Family, Inc. (a) 1,400 41,650
 Alphatec Holdings, Inc. (a) 1,200 5,520
 Amedisys, Inc. (a) 3,667 159,991
 America Service Group, Inc. 1,200 19,848
 American Medical Systems Holdings, Inc. (a) 7,900 133,668
 Amsurg Corp. (a) 3,500 74,305
 Analogic Corp. 1,500 55,530
 AngioDynamics, Inc. (a) 2,590 35,690
 Anika Therapeutics, Inc. (a) 1,400 9,100
 Animal Health International, Inc. (a) 3,100 6,572
 Aspect Medical Systems, Inc. (a) 1,100 13,178
 Assisted Living Concepts, Inc. (a) 1,760 36,467
 Atrion Corp. 200 28,880
 Beckman Coulter, Inc. 8,000 551,520
 Bio-Rad Laboratories, Inc., Class A (a) 2,000 183,760
 Bio-Reference Labs, Inc. (a) 2,100 72,240
 BioForm Medical, Inc. (a) 1,000 3,580
 BioSphere Medical, Inc. (a) 900 3,069
 Biolase Technology, Inc. (a) 2,400 5,424

 25

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Bioscript, Inc. (a) 2,596 $ 17,549
 Bovie Medical Corp. (a) 1,600 12,560
 Brookdale Senior Living, Inc. 5,700 103,341
 Bruker BioSciences Corp. (a) 5,100 54,417
 CONMED Corp. (a) 3,150 60,386
 Candela Corp. (a) 7,200 23,760
 Cantel Medical Corp. (a) 1,400 21,084
 Cardiac Science Corp. (a) 3,210 12,840
 Cardica, Inc. (a) 2,700 4,077
 CardioNet, Inc. (a) 4,800 32,256
 Catalyst Health Solutions, Inc. (a) 3,800 110,770
 Centene Corp. (a) 6,500 123,110
 Cepheid, Inc. (a) 6,500 85,930
 Chindex International, Inc. (a) 1,450 18,241
 Clarient, Inc. (a) 6,800 28,628
 Clinical Data, Inc. (a) 687 11,452
 Community Health Systems, Inc. (a) 10,100 322,493
 Conceptus, Inc. (a) 2,900 53,766
 The Cooper Cos., Inc. 5,943 176,685
 Corvel Corp. (a) 1,200 34,080
 Covance, Inc. (a) 7,700 416,955
 Cryo-Cell International, Inc. (a) 1,900 3,724
 CryoLife, Inc. (a) 5,100 40,647
 Cutera, Inc. (a) 900 7,785
 Cyberonics, Inc. (a) 3,800 60,572
 Cynosure, Inc., Class A (a) 2,200 25,630
 Daxor Corp. 700 8,295
 Delcath Systems Inc. (a) 2,900 14,239
 DexCom, Inc. (a) 4,800 38,064
 Dialysis Corp. of America (a) 1,300 7,826
 Dynacq Healthcare, Inc. (a) 4 13
 Edwards Lifesciences Corp. (a) 6,800 475,388
 Electro-Optical Sciences, Inc. (a) 3,800 36,404
 Emergency Medical Services Corp. (a) 2,800 130,200
 Emeritus Corp. (a) 2,200 48,290
 Endologix, Inc. (a) 6,200 38,378
 The Ensign Group, Inc. 500 7,015
 eResearch Technology, Inc. (a) 4,775 33,425
 Escalon Medical Corp. (a) 725 1,479
 ev3, Inc. (a) 7,183 88,423
 Exactech, Inc. (a) 1,000 15,740
 Five Star Quality Care, Inc. (a) 308 1,127
 Fonar Corp. (a) 692 1,474
 Genoptix, Inc. (a) 2,600 90,428
 Gentiva Health Services, Inc. (a) 3,200 80,032
 Gliatech, Inc. (a) 100 -

 26

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 HMS Holdings Corp. (a) 3,700 $ 141,451
 Haemonetics Corp. (a) 3,500 196,420
 Hanger Orthopedic Group, Inc. (a) 3,400 47,158
 Hansen Medical, Inc. (a) 2,100 7,350
 Health Grades, Inc. (a) 5,100 25,245
 Health Management Associates, Inc., Class A (a) 25,980 194,590
 Health Net, Inc. (a) 13,180 202,972
 HealthSouth Corp. (a) 9,600 150,144
 HealthSpring, Inc. (a) 4,900 60,025
 HealthTronics, Inc. (a) 1,900 4,674
 Healthcare Services Group, Inc. 3,877 71,182
 Healthways, Inc. (a) 3,700 56,684
 Henry Schein, Inc. (a) 10,800 593,028
 Hill-Rom Holdings, Inc. 6,645 144,728
 Hologic, Inc. (a) 30,636 500,592
 Hooper Holmes, Inc. (a) 4,600 4,462
 Hydron Technologies, Inc. (a) 2,900 116
 Hythiam, Inc. (a)(c) 10,400 6,968
 I-Flow Corp. (a) 2,700 30,753
 ICU Medical, Inc. (a) 1,600 58,976
 IPC The Hospitalist Co., Inc. (a) 2,300 72,335
 IRIS International, Inc. (a) 2,500 28,250
 Idexx Laboratories, Inc. (a)(c) 6,400 320,000
 Immucor, Inc. (a) 7,337 129,865
 Insulet Corp. (a) 2,300 25,829
 Integra LifeSciences Holdings Corp. (a) 2,300 78,545
 Invacare Corp. 3,500 77,980
 Inverness Medical Innovations, Inc. (a) 8,775 339,856
 Kendle International, Inc. (a) 2,700 45,144
 Kensey Nash Corp. (a) 1,400 40,530
 Kindred Healthcare, Inc. (a) 3,390 55,020
 Kinetic Concepts, Inc. (a) 7,815 288,999
 LCA-Vision, Inc. (a) 3,850 26,989
 LHC Group, Inc. (a) 2,300 68,839
 Lectec Corp. (a) 800 3,560
 LifePoint Hospitals, Inc. (a) 7,045 190,638
 Lincare Holdings, Inc. (a) 8,600 268,750
 MAKO Surgical Corp. (a) 700 6,132
 MEDTOX Scientific, Inc. (a) 1,600 14,560
 Magellan Health Services, Inc. (a) 4,179 129,800
 Masimo Corp. (a) 5,100 133,620
 MedCath Corp. (a) 1,800 15,786
 Medical Action Industries, Inc. (a) 1,800 21,726
 Mednax, Inc. (a) 5,100 280,092
 Meridian Bioscience, Inc. 4,425 110,669
 Merit Medical Systems, Inc. (a) 3,068 53,168

 27

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Metropolitan Health Networks, Inc. (a) 300 $ 654
 Micrus Endovascular Corp. (a) 2,100 27,195
 Molina Healthcare, Inc. (a) 1,800 37,242
 NMT Medical, Inc. (a) 1,900 3,914
 Nanosphere, Inc. (a) 200 1,432
 National Dentex Corp. (a) 150 1,278
 National Healthcare Corp. 600 22,374
 Natus Medical, Inc. (a) 3,100 47,833
 Neogen Corp. (a) 1,612 52,051
 Neurometrix, Inc. (a) 1,700 5,457
 Nighthawk Radiology Holdings, Inc. (a) 2,700 19,521
 NuVasive, Inc. (a) 3,900 162,864
 NxStage Medical, Inc. (a) 4,900 32,781
 OTIX Global, Inc. (a) 3,500 3,325
 Odyssey HealthCare, Inc. (a) 3,850 48,125
 Omnicell, Inc. (a) 3,800 42,332
 OraSure Technologies, Inc. (a) 4,775 13,848
 Orthofix International NV (a) 2,300 67,597
 Orthovita, Inc. (a) 8,420 36,964
 Osteotech, Inc. (a) 3,300 14,685
 Owens & Minor, Inc. 5,200 235,300
 PC Group, Inc. (a) 300 162
 PSS World Medical, Inc. (a) 6,800 148,444
 Palomar Medical Technologies, Inc. (a) 2,000 32,420
 Parexel International Corp. (a) 8,000 108,720
 PharMerica Corp. (a) 3,423 63,565
 Pharmaceutical Product Development, Inc. 13,500 296,190
 Psychemedics Corp. 125 775
 Psychiatric Solutions, Inc. (a) 5,432 145,360
 Quidel Corp. (a) 4,000 64,920
 RTI Biologics, Inc. (a) 3,200 13,920
 RadNet, Inc. (a) 6,500 16,835
 RehabCare Group, Inc. (a) 2,600 56,394
 Res-Care, Inc. (a) 1,900 26,999
 ResMed, Inc. (a) 8,100 366,120
 Retractable Technologies, Inc. (a) 1,300 2,106
 Rochester Medical Corp. (a) 1,700 20,468
 Rockwell Medical Technologies, Inc. (a) 3,200 24,896
 Rural/Metro Corp. (a) 4,100 17,138
 SRI/Surgical Express, Inc. (a) 1,000 2,820
 Sirona Dental Systems, Inc. (a) 1,800 53,550
 Skilled Healthcare Group, Inc., Class A (a) 2,700 21,681
 Somanetics Corp. (a) 2,500 40,300
 SonoSite, Inc. (a) 2,200 58,212
 Sparta Surgical Corp. (a) 1,900 -
 Spectranetic Corp. (a) 3,800 24,358

 28

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Staar Surgical Co. (a) 2,400 $ 9,792
 Stereotaxis, Inc. (a) 2,600 11,596
 Steris Corp. 6,000 182,700
 Sun Healthcare Group, Inc. (a) 4,800 41,472
 Sunrise Senior Living, Inc. (a) 10,700 32,421
 SurModics, Inc. (a) 1,800 44,280
 Symmetry Medical, Inc. (a) 3,600 37,332
 Synergetics USA, Inc. (a) 400 560
 Synovis Life Technologies, Inc. (a) 2,600 35,880
 SyntheMed, Inc. (a) 8,500 2,210
 Theragenics Corp. (a) 1,900 3,040
 ThermoGenesis Corp. (a) 8,000 4,960
 Thoratec Corp. (a) 7,200 217,944
 Tomotherapy, Inc. (a) 5,200 22,516
 Trans1, Inc. (a) 1,100 5,291
 Triple-S Management Corp. (a) 1,400 23,478
 US Physical Therapy, Inc. (a) 1,600 24,112
 Uluru, Inc. (a) 400 84
 Universal American Financial Corp. (a) 4,400 41,448
 Universal Health Services, Inc., Class B 5,700 353,001
 Urologix, Inc. (a) 1,700 2,023
 Utah Medical Products, Inc. 800 23,456
 Varian, Inc. (a) 3,050 155,733
 Vascular Solutions, Inc. (a) 1,500 12,405
 Virtual Radiologic Corp. (a) 1,600 20,848
 Volcano Corp. (a) 4,500 75,690
 WellCare Health Plans, Inc. (a) 4,400 108,460
 West Pharmaceutical Services, Inc. 3,600 146,196
 Wright Medical Group, Inc. (a) 5,500 98,230
 Zoll Medical Corp. (a) 2,310 49,711
 ----------------
 14,501,630
------------------------------------------------------------------------------------------------------------------------------------
HOUSEHOLD GOODS & HOME ACCO Brands Corp. (a) 4,200 30,324
CONSTRUCTION - 1.7% Bassett Furniture Industries, Inc. (a) 800 3,424
 Beazer Homes USA, Inc. (a) 6,964 38,929
 Blount International, Inc. (a) 2,800 26,516
 Blyth, Inc. 675 26,143
 Briggs & Stratton Corp. 4,700 91,227
 Brookfield Homes Corp. (c) 1,876 12,531
 Cavco Industries, Inc. (a) 710 25,205
 Central Garden & Pet Co., Class A (a) 5,900 64,487
 Champion Enterprises, Inc. (a) 8,300 3,818
 Church & Dwight Co., Inc. 7,900 448,246
 Compx International, Inc. 1,600 11,616
 Comstock Homebuilding Cos., Inc., Class A (a) 3,800 3,990
 Dixie Group, Inc. (a) 900 2,772
 Energizer Holdings, Inc. (a) 8,100 537,354

 29

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Ethan Allen Interiors, Inc. 3,500 $ 57,750
 Flexsteel Industries, Inc. 200 1,678
 Forward Industries, Inc. (a) 1,100 1,881
 Franklin Covey Co. (a) 3,300 19,305
 Furniture Brands International, Inc. 4,400 24,332
 HNI Corp. 3,300 77,880
 Herman Miller, Inc. 5,590 94,527
 hhgregg, Inc. (a) 1,400 23,716
 Hooker Furniture Corp. 1,700 22,950
 Hovnanian Enterprises, Inc., Class A (a)(c) 8,700 33,408
 Interface, Inc., Class A 4,700 39,010
 iRobot Corp. (a) 2,100 25,851
 Jarden Corp. 9,675 271,577
 Kid Brands, Inc. (a) 1,300 8,060
 Kimball International, Inc., Class B 2,800 21,364
 Knoll, Inc. 5,200 54,236
 L.S. Starrett Co., Class A 700 7,280
 La-Z-Boy, Inc. 5,700 49,305
 Libbey, Inc. 1,082 4,166
 Lifetime Brands, Inc. 2,500 14,325
 M/I Homes, Inc. (a) 2,000 27,180
 MDC Holdings, Inc. 3,816 132,568
 Meritage Homes Corp. (a) 3,100 62,930
 Middleby Corp. (a) 2,011 110,625
 Mohawk Industries, Inc. (a) 5,964 284,423
 NVR, Inc. (a) 696 443,610
 National Presto Industries, Inc. 500 43,255
 Oil-Dri Corp. of America 700 10,150
 Orleans Homebuilders, Inc. 900 2,745
 Palm Harbor Homes, Inc. (a) 2,300 6,647
 Ryland Group, Inc. 5,700 120,099
 The Scotts Miracle-Gro Co. 5,500 236,225
 Sealy Corp. (a) 6,100 19,520
 Select Comfort Corp. (a) 5,750 27,313
 Skyline Corp. 1,000 22,560
 Standard-Pacific Corp. (a) 15,000 55,350
 Stanley Furniture Co., Inc. 2,400 24,888
 Steelcase, Inc., Class A 6,400 39,744
 Tempur-Pedic International, Inc. 8,400 159,096
 Toll Brothers, Inc. (a) 16,200 316,548
 Tupperware Corp. 7,555 301,596
 Virco Manufacturing Corp. 642 1,932
 WD-40 Co. 1,900 53,960
 ----------------
 4,682,147
------------------------------------------------------------------------------------------------------------------------------------

 30

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL ENGINEERING - 2.5% AGCO Corp. (a) 9,723 $ 268,646
 Accuride Corp. (a) 700 192
 Alamo Group, Inc. 1,400 22,120
 Albany International Corp., Class A 2,800 54,320
 Altra Holdings, Inc. (a) 4,300 48,117
 American Railcar Industries, Inc. 1,800 19,098
 Astec Industries, Inc. (a) 1,900 48,393
 Broadwind Energy, Inc. (a) 2,100 16,569
 Brush Engineered Materials, Inc. (a) 2,800 68,488
 Bucyrus International, Inc. 8,100 288,522
 CIRCOR International, Inc. 1,900 53,694
 Cascade Corp. 1,200 32,088
 Chicago Rivet & Machine Co. 100 1,435
 Clarcor, Inc. 5,600 175,616
 Columbus McKinnon Corp. (a) 2,100 31,815
 Commercial Vehicle Group, Inc. (a) 700 4,557
 Crane Co. 5,400 139,374
 Donaldson Co., Inc. 7,000 242,410
 Dynamic Materials Corp. 1,400 27,944
 The Eastern Co. 300 4,770
 EnPro Industries, Inc. (a) 2,200 50,292
 Energy Recovery, Inc. (a) 6,800 39,576
 Federal Signal Corp. 3,600 25,884
 Flanders Corp. (a) 3,800 19,608
 Flow International Corp. (a) 4,500 11,655
 Freightcar America, Inc. 1,500 36,450
 Gardner Denver, Inc. (a) 6,900 240,672
 GenTek, Inc. (a) 1,500 57,060
 The Gorman-Rupp Co. 1,870 46,582
 Graco, Inc. 6,387 178,006
 Graham Corp. 2,300 35,765
 Greenbrier Cos., Inc. 2,800 32,788
 H&E Equipment Services, Inc. (a) 2,900 32,857
 Hardinge, Inc. 1,900 11,780
 Hurco Companies, Inc. (a) 1,300 22,204
 IDEX Corp. 8,625 241,069
 John Bean Technologies Corp. 3,105 56,418
 Joy Global, Inc. 11,900 582,386
 K-Tron International, Inc. (a) 300 28,563
 Kadant, Inc. (a) 780 9,461
 Kaydon Corp. 3,800 123,196
 Key Technology Inc. (a) 1,100 11,825
 L.B. Foster Co., Class A (a) 1,400 42,812
 Lincoln Electric Holdings, Inc. 4,295 203,798
 Lindsay Manufacturing Co. (c) 1,800 70,884
 Lydall, Inc. (a) 1,800 9,468

 31

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 MFRI, Inc. (a) 1,400 $ 10,360
 Manitowoc Co. 16,600 157,202
 Met-Pro Corp. 1,700 16,473
 Mine Safety Appliances Co. 3,300 90,783
 Mueller Industries, Inc. 3,400 81,158
 NACCO Industries, Inc., Class A 600 36,042
 NN, Inc. 2,700 12,528
 Navistar International Corp. (a) 6,500 243,230
 Nordson Corp. 3,200 179,488
 Oshkosh Corp. 9,700 300,021
 PMFG, Inc. (a) 600 7,716
 Pentair, Inc. 10,450 308,484
 Robbins & Myers, Inc. 3,200 75,136
 SPX Corp. 5,948 364,434
 Sauer-Danfoss, Inc. 1,100 8,437
 Spartan Motors, Inc. 2,275 11,694
 Standex International Corp. 1,400 27,762
 Sun Hydraulics, Inc. 1,650 34,749
 Sypris Solutions, Inc. 1,300 3,315
 Tecumseh Products Co., Class A (a) 1,800 20,394
 Tennant Co. 1,800 52,308
 Terex Corp. (a) 12,800 265,344
 Timken Co. 7,800 182,754
 Toro Co. (c) 4,590 182,544
 Trinity Industries, Inc. 8,500 146,115
 Twin Disc, Inc. 1,600 19,952
 Wabash National Corp. 1,800 4,896
 Westinghouse Air Brake Technologies Corp. 5,100 191,403
 Woodward Governor Co. 6,000 145,560
 Xerium Technologies, Inc. (a) 300 390
 ----------------
 6,949,899
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL METALS & MINING - 1.1% Ampco-Pittsburgh Corp. 1,000 26,590
 Carpenter Technology Corp. 4,800 112,272
 Century Aluminum Co. (a) 6,700 62,645
 Cliffs Natural Resources, Inc. 15,300 495,108
 Cold Metal Products, Inc. (a) 1,400 -
 Commercial Metals Co. 11,900 213,010
 Friedman Industries, Inc. 600 3,600
 Haynes International, Inc. (a) 1,300 41,366
 Horsehead Holding Corp. (a) 5,200 60,944
 Intrepid Potash, Inc. (a) 5,700 134,463
 Kaiser Aluminum Corp. 1,300 47,268
 Olympic Steel, Inc. 1,705 48,916
 RTI International Metals, Inc. (a) 4,100 102,131
 Reliance Steel & Aluminum Co. 6,824 290,429
 Southern Copper Corp. (c) 24,300 745,767

 32

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Steel Dynamics, Inc. 25,366 $ 389,114
 Synalloy Corp. 1,300 12,337
 USEC, Inc. (a) 12,200 57,218
 Universal Stainless & Alloy Products, Inc. (a) 700 12,775
 Uranium Energy Corp. (a) 8,800 25,960
 Uranium Resources, Inc. (a) 4,100 4,715
 WHX Corp. (a) 1,600 3,072
 Worthington Industries, Inc. 6,800 94,520
 ----------------
 2,984,220
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL TRANSPORTATION - 1.4% ATC Technology Corp. (a) 2,205 43,571
 Air Transport Services Group, Inc. (a) 3,000 10,380
 Aircastle Ltd. 5,600 54,152
 Alexander & Baldwin, Inc. 4,400 141,196
 American Commercial Lines, Inc. (a) 1,125 32,760
 Arkansas Best Corp. 3,400 101,796
 Atlas Air Worldwide Holdings, Inc. (a) 1,500 47,955
 Capital Product Partners LP 1,400 12,838
 Celadon Group, Inc. (a) 1,725 19,510
 Con-way, Inc. 6,100 233,752
 Covenant Transport Group, Class A (a) 2,700 13,257
 DHT Maritime, Inc. 5,500 20,680
 Dynamex, Inc. (a) 900 14,697
 Eagle Bulk Shipping, Inc. (c) 7,900 40,527
 Excel Maritime Carriers Ltd. 3,600 23,940
 Forward Air Corp. 3,200 74,080
 Frozen Food Express Industries, Inc. 1,900 5,567
 Genco Shipping & Trading Ltd. (c) 3,800 78,964
 General Maritime Corp. (a) 8,352 64,644
 Genesee & Wyoming, Inc., Class A (a) 3,550 107,636
 HUB Group, Inc., Class A (a) 4,100 93,685
 Heartland Express, Inc. 7,008 100,915
 Horizon Lines, Inc., Class A 3,300 20,955
 International Shipholding Corp. 600 18,486
 J.B. Hunt Transport Services, Inc. 11,400 366,282
 K-Sea Transportation Partners LP 1,400 28,224
 Kansas City Southern (a) 11,400 301,986
 Kirby Corp. (a) 6,000 220,920
 Knight Transportation, Inc. 6,200 104,036
 Landstar System, Inc. 6,400 243,584
 Macquarie Infrastructure Co. LLC 4,100 36,941
 Marten Transport Ltd. (a) 1,637 27,927
 Navios Maritime Partners LP 1,200 14,340
 OSG America LP 2,100 21,315
 OceanFreight, Inc. 1,500 2,010
 Old Dominion Freight Line, Inc. (a) 3,362 102,306
 Overseas Shipholding Group, Inc. 2,800 104,636

 33

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 P.A.M. Transportation Services, Inc. (a) 400 $ 3,316
 PHH Corp. (a) 5,500 109,120
 Pacer International, Inc. 7,000 27,020
 Patriot Transportation Holding, Inc. (a) 100 7,550
 Quality Distribution, Inc. (a) 1,500 5,055
 SMF Energy Corp. (a) 600 228
 Saia, Inc. (a) 1,500 24,120
 Ship Finance International Ltd. 4,000 49,160
 TAL International Group, Inc. 1,400 19,908
 TBS International Ltd. (a) 3,300 28,710
 Teekay Corp. 4,500 98,415
 Textainer Group Holdings Ltd. 1,900 30,419
 USA Truck, Inc. (a) 700 8,890
 UTI Worldwide, Inc. 10,200 147,696
 Universal Truckload Services, Inc. 900 14,859
 Werner Enterprises, Inc. 7,100 132,273
 Willis Lease Finance Corp. (a) 200 2,734
 World Fuel Services Corp. 3,800 182,666
 YRC Worldwide, Inc. (a)(c) 10,629 47,299
 ----------------
 3,889,888
------------------------------------------------------------------------------------------------------------------------------------
LEISURE GOODS - 1.1% Activision Blizzard, Inc. (a)(b) 70,288 870,868
 Aldila, Inc. (a) 100 394
 Arctic Cat, Inc. 1,300 9,178
 Brunswick Corp. 11,600 138,968
 Callaway Golf Co. 6,800 51,748
 DTS, Inc. (a) 2,200 60,236
 Drew Industries, Inc. (a) 2,200 47,718
 Emerson Radio Corp. (a) 1,700 2,176
 Escalade, Inc. 900 2,268
 Garmin Ltd. 14,300 539,682
 Glu Mobile, Inc. (a) 4,200 4,914
 Jakks Pacific, Inc. (a) 3,013 43,146
 Koss Corp. 200 2,330
 Leapfrog Enterprises, Inc. (a) 3,600 14,796
 Majesco Entertainment Co. (a) 1,500 2,055
 Marine Products Corp. 700 3,871
 Marvel Entertainment, Inc. (a) 5,500 272,910
 Meade Instruments Corp. (a) 10 37
 Nautilus, Inc. (a) 2,400 4,080
 Polaris Industries, Inc. 3,600 146,808
 Pool Corp. 5,250 116,655
 RC2 Corp. (a) 1,970 28,073
 Sport Supply Group, Inc. 2,100 21,399
 Steinway Musical Instruments, Inc. (a) 1,310 15,550
 THQ, Inc. (a) 10,150 69,426
 Take-Two Interactive Software, Inc. (a) 11,000 123,310

 34

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Thor Industries, Inc. 3,685 $ 114,051
 TiVo, Inc. (a) 11,265 116,705
 Universal Electronics, Inc. (a) 1,700 34,714
 Winnebago Industries, Inc. 4,600 67,666
 Zumiez, Inc. (a) 2,600 42,666
 ----------------
 2,968,398
------------------------------------------------------------------------------------------------------------------------------------
LIFE INSURANCE - 0.4% American Equity Investment Life Holding Co. 6,100 42,822
 American Independence Corp. (a) 48 228
 Amerisafe, Inc. (a) 3,700 63,825
 Citizens, Inc. (a) 2,890 18,322
 Conseco, Inc. (a) 24,300 127,818
 Delphi Financial Group, Inc., Class A 4,450 100,703
 eHealth, Inc. (a) 2,700 39,204
 FBL Financial Group, Inc., Class A 1,700 33,031
 Independence Holding Co. 720 4,234
 Kansas City Life Insurance Co. 700 21,798
 National Western Life Insurance Co., Class A 307 54,026
 The Phoenix Cos., Inc. (a) 8,700 28,275
 Presidential Life Corp. 3,100 32,116
 Protective Life Corp. 10,000 214,200
 Stancorp Financial Group, Inc. 5,000 201,850
 ----------------
 982,452
------------------------------------------------------------------------------------------------------------------------------------
MEDIA - 3.4% 4Kids Entertainment, Inc. (a) 1,000 1,680
 AH Belo Corp. 1,296 4,186
 Alloy, Inc. (a) 1,300 8,801
 American Greetings Corp., Class A 4,400 98,120
 Arbitron, Inc. 2,900 60,204
 Ascent Media Corp., Class A (a) 1,406 35,994
 Avid Technology, Inc. (a) 3,356 47,286
 Beasley Broadcasting Group, Inc., Class A 4,100 14,145
 Belo Corp., Class A 9,980 53,992
 CKX, Inc. (a) 6,000 40,260
 CSS Industries, Inc. 904 17,872
 CTM Media Holdings, Inc. (a) 511 306
 CTN Media Group, Inc. (a) 50 -
 Cablevision Systems Corp., Class A 26,900 638,875
 Citadel Broadcasting Corp. (a) 19,200 1,190
 Clear Channel Outdoor Holdings, Inc., Class A (a) 5,900 41,300
 ComScore, Inc. (a) 2,100 37,821
 Constant Contact, Inc. (a) 2,200 42,350
 Crown Media Holdings, Inc., Class A (a) 1,500 2,340
 Cumulus Media, Inc., Class A (a) 6,165 10,665
 DG FastChannel, Inc. (a) 2,938 61,522

 35

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 DISH Network Corp. (a) 23,865 $ 459,640
 Discovery Communications, Inc., Class A (a) 34,000 982,260
 Dolan Media Co. (a) 4,000 47,960
 Dolby Laboratories, Inc., Class A (a) 6,800 259,692
 DreamWorks Animation SKG, Inc., Class A (a) 8,700 309,459
 EDCI Holdings, Inc. (a) 470 2,810
 EW Scripps Co. 3,233 24,248
 Emmis Communications Corp., Class A (a) 6,400 5,376
 Entercom Communications Corp. 3,000 15,300
 Entravision Communications Corp., Class A (a) 6,500 11,245
 Factset Research Systems, Inc. (c) 4,950 327,888
 Fisher Communications, Inc. (a) 700 12,726
 Global Traffic Network, Inc. (a) 1,900 8,873
 Gray Television, Inc. 10,300 23,896
 HSW International, Inc. (a) 400 192
 Harte-Hanks, Inc. 4,300 59,469
 Hollywood Media Corp. (a) 4,300 6,622
 IHS, Inc., Class A (a) 5,300 270,989
 iBEAM Broadcasting Corp. (a) 80 -
 infoGROUP, Inc. 3,200 22,432
 Interactive Data Corp. 3,600 94,356
 inVentiv Health, Inc. (a) 4,180 69,931
 John Wiley & Sons, Inc., Class A 5,000 173,900
 Journal Communications, Inc., Class A 4,500 16,560
 Knology, Inc. (a) 3,500 34,125
 The Knot, Inc. (a) 3,100 33,852
 Lamar Advertising Co., Class A (a)(c) 7,407 203,248
 Lee Enterprises, Inc. 3,700 10,175
 Liberty Global, Inc. (a) 25,841 583,231
 Liberty Global, Inc., Series C (a) 3,922 88,088
 Liberty Media Corp. - Entertainment, Class A (a) 60,328 1,876,804
 Liberty Media Holding Corp. - Capital (a) 10,407 217,714
 Liberty Media Holding Corp. - Interactive (a) 68,836 755,131
 Lin TV Corp., Class A (a) 3,200 15,136
 Local.com Corp. (a) 500 2,495
 LodgeNet Interactive Corp. (a) 3,600 27,180
 Marchex, Inc., Class B 3,200 15,712
 Martha Stewart Living Omnimedia, Inc., Class A (a) 5,000 31,300
 McClatchy Co., Class A (c) 12,800 32,768
 Media General, Inc., Class A 2,100 17,955
 Mediacom Communications Corp., Class A (a) 5,900 33,984
 Morningstar, Inc. (a) 2,000 97,120
 New Frontier Media, Inc. (a) 5,400 11,610
 Nexstar Broadcasting Group, Inc., Class A (a) 4,500 15,435
 Outdoor Channel Holdings, Inc. (a) 400 2,616

 36

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 PDI, Inc. (a) 1,000 $ 4,580
 Playboy Enterprises, Inc., Class B (a) 2,100 6,342
 Primedia, Inc. 3,905 9,841
 RHI Entertainment, Inc. (a) 300 954
 Radio One, Inc., Class D (a) 2,000 1,960
 Regent Communications, Inc. (a) 2,900 1,247
 SPAR Group, Inc. (a) 1,400 994
 Saga Communications, Inc. (a) 357 4,784
 Salem Communications Corp., Class A (a) 1,600 3,616
 Salon Media Group, Inc. (a) 30 3
 Schawk, Inc. 2,100 24,507
 Scholastic Corp. 3,410 82,999
 Sinclair Broadcast Group, Inc., Class A 8,400 30,072
 Sirius XM Radio, Inc. (a)(c) 433,550 275,304
 Spanish Broadcasting System, Inc., Class A (a) 5,100 2,398
 TechTarget, Inc. (a) 1,100 6,270
 TheStreet.com, Inc. 2,600 7,540
 Valassis Communications, Inc. (a) 5,200 92,976
 Value Line, Inc. 100 3,087
 ValueClick, Inc. (a) 11,155 147,134
 Vertro, Inc. (a) 4,400 1,980
 WPT Enterprises, Inc. (a) 2,100 2,058
 Warner Music Group Corp. (a) 7,700 42,581
 WebMD Health Corp., Class A (a) 1,300 43,056
 WebMediaBrands, Inc. (a) 1,900 1,368
 Westwood One, Inc. (a) 18 124
 ----------------
 9,328,187
------------------------------------------------------------------------------------------------------------------------------------
MINING - 1.1% AMCOL International Corp. 2,200 50,358
 Alliance Holdings GP LP 1,300 26,819
 Alliance Resource Partners LP 1,900 68,894
 Allied Nevada Gold Corp. (a) 6,600 64,614
 Alpha Natural Resources, Inc. (a) 19,045 668,479
 Arch Coal, Inc. 19,100 422,683
 Atna Resources Ltd. (a) 1,792 1,290
 Coeur d'Alene Mines Corp. (a) 9,770 200,285
 Compass Minerals International, Inc. 4,200 258,804
 Evergreen Energy, Inc. (a)(c) 8,200 5,084
 General Moly, Inc. (a) 6,700 21,105
 Hecla Mining Co. (a)(c) 31,800 139,602
 International Coal Group, Inc. (a) 11,700 47,151
 James River Coal Co. (a) 3,900 74,529
 National Coal Corp. (a) 2,700 3,321
 Natural Resource Partners LP 3,000 62,610
 Patriot Coal Corp. (a) 10,000 117,600
 Penn Virginia GP Holdings LP 2,000 25,660

 37

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Penn Virginia Resource Partners LP 3,100 $ 53,134
 Royal Gold, Inc. 5,335 243,276
 Solitario Exploration & Royalty Corp. (a) 6,600 13,002
 Stillwater Mining Co. (a) 4,984 33,492
 Timberline Resources Corp. (a) 6,000 4,380
 US Gold Corp. (a) 9,100 26,299
 Vista Gold Corp. (a) 3,800 9,044
 Walter Industries, Inc. 6,400 384,384
 Westmoreland Coal Co. (a) 1,600 13,008
 ----------------
 3,038,907
------------------------------------------------------------------------------------------------------------------------------------
MOBILE TELECOMMUNICATIONS - 0.5% Atlantic Tele-Network, Inc. 1,100 58,762
 Centennial Communications Corp. (a) 7,900 63,042
 FiberTower Corp. (a) 22,700 24,516
 Globalstar, Inc. (a) 5,600 4,256
 iPCS, Inc. (a) 1,900 33,060
 Leap Wireless International, Inc. (a) 8,000 156,400
 NII Holdings, Inc. (a) 20,400 611,592
 NTELOS Holdings Corp. 4,800 84,768
 ORBCOMM, Inc. (a)(c) 1,800 4,896
 Purple Communications, Inc. (a) 6 13
 Telephone & Data Systems, Inc. 7,500 232,575
 Telephone & Data Systems, Inc. (Special Shares) 2,900 86,072
 TerreStar Corp. (a) 5,100 11,679
 U.S. Cellular Corp. (a) 1,600 62,512
 USA Mobility, Inc. 3,200 41,216
 Virgin Mobile USA, Inc. (a) 5,800 29,000
 ----------------
 1,504,359
------------------------------------------------------------------------------------------------------------------------------------
NONLIFE INSURANCE - 9.0% 21st Century Holding Co. 1,300 5,148
 AMBAC Financial Group, Inc. (c) 42,700 71,736
 Affirmative Insurance Holdings, Inc. 2,600 12,792
 Alleghany Corp. (a) 665 172,268
 Allied World Assurance Holdings Ltd. 4,400 210,892
 AmTrust Financial Services, Inc. 4,300 49,063
 American Financial Group, Inc. 8,250 210,375
 American National Insurance Co. 1,600 136,320
 American Physicians Capital, Inc. 1,533 44,166
 American Safety Insurance Holdings Ltd. (a) 300 4,740
 Arch Capital Group Ltd. (a) 7,005 473,118
 Argo Group International Holdings Ltd. (a) 3,339 112,457
 Arthur J. Gallagher & Co. 10,400 253,448
 Aspen Insurance Holdings Ltd. 9,700 256,759
 Assured Guaranty Ltd. 13,823 268,443
 Atlantic American Corp. (a) 700 735
 Axis Capital Holdings Ltd. 16,100 485,898
 Baldwin & Lyons, Inc., Class B 950 22,277

 38

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Berkshire Hathaway, Inc., Class A (a) 139 $ 14,039,000
 Brown & Brown, Inc. 12,000 229,920
 CNA Financial Corp. 3,029 73,120
 CNA Surety Corp. (a) 1,900 30,780
 Donegal Group, Inc., Class A 500 7,720
 EMC Insurance Group, Inc. 1,100 23,243
 Eastern Insurance Holdings, Inc. 1,900 18,107
 Employers Holdings, Inc. 5,500 85,140
 Endurance Specialty Holdings Ltd. 6,600 240,702
 Enstar Group Ltd. (a) 600 37,362
 Erie Indemnity Co., Class A 3,200 119,872
 Everest Re Group Ltd. 6,700 587,590
 FPIC Insurance Group, Inc. (a) 1,500 50,325
 First Acceptance Corp. (a) 1,327 3,583
 First American Corp. 8,635 279,515
 First Mercury Financial Corp. 2,400 31,968
 Flagstone Reinsurance Holdings Ltd. 4,500 50,760
 Greenlight Capital Re Ltd. (a) 3,700 69,560
 HCC Insurance Holdings, Inc. 12,250 335,038
 The Hanover Insurance Group, Inc. 6,500 268,645
 Harleysville Group, Inc. 1,400 44,310
 Horace Mann Educators Corp. 4,300 60,071
 Infinity Property & Casualty Corp. 1,800 76,464
 InsWeb Corp. (a) 83 263
 Insure.com, Inc. (a) 366 1,083
 Life Partners Holdings, Inc. (c) 1,631 29,195
 Maiden Holdings Ltd. 4,400 31,988
 Markel Corp. (a) 1,094 360,823
 Max Capital Group Ltd. 5,300 113,261
 Meadowbrook Insurance Group, Inc. 4,400 32,560
 Mercer Insurance Group, Inc. 1,400 25,298
 Mercury General Corp. 2,800 101,304
 Montpelier Re Holdings Ltd. 9,300 151,776
 NYMAGIC, Inc. 600 10,356
 National Interstate Corp. 600 10,500
 National Security Group, Inc. 120 956
 Navigators Group, Inc. (a) 1,700 93,500
 Odyssey Re Holdings Corp. 2,100 136,101
 Old Republic International Corp. 24,512 298,556
 OneBeacon Insurance Group Ltd. 2,600 35,724
 PMA Capital Corp., Class A (a) 4,695 26,715
 PartnerRe Ltd. 6,500 500,110
 Platinum Underwriters Holdings Ltd. 6,500 232,960
 ProAssurance Corp. (a) 4,400 229,636
 RLI Corp. 2,100 110,838
 Reinsurance Group of America, Inc. 8,100 361,260

 39

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 RenaissanceRe Holdings Ltd. 6,900 $ 377,844
 Safety Insurance Group, Inc. 1,800 59,256
 SeaBright Insurance Holdings, Inc. (a) 4,300 49,106
 Selective Insurance Group, Inc. 5,800 91,234
 Specialty Underwriters' Alliance, Inc. (a) 3,600 23,760
 State Auto Financial Corp. 1,425 25,550
 Tower Group, Inc. 4,262 103,950
 Transatlantic Holdings, Inc. 6,231 312,609
 Unico American Corp. 300 2,973
 United America Indemnity, Ltd. (a) 2,700 19,953
 United Fire & Casualty Co. 2,000 35,800
 Unitrin, Inc. 4,800 93,552
 Universal Insurance Holdings, Inc. 400 2,012
 Validus Holdings Ltd. 8,655 223,307
 W.R. Berkley Corp. 16,090 406,755
 Wesco Financial Corp. 145 47,198
 White Mountains Insurance Group, Inc. 852 261,572
 Zenith National Insurance Corp. 5,150 159,135
 ----------------
 24,743,759
------------------------------------------------------------------------------------------------------------------------------------
OIL & GAS PRODUCERS - 3.7% ATP Oil & Gas Corp. (a)(c) 5,000 89,450
 Abraxas Petroleum Corp. (a) 7,700 13,783
 Adams Resources & Energy, Inc. 800 16,040
 Alon USA Energy, Inc. 1,500 14,895
 American Oil & Gas, Inc. (a) 7,400 14,578
 Apco Oil and Gas International, Inc. 1,000 22,920
 Approach Resources, Inc. (a) 1,300 11,804
 Arena Resources, Inc. (a) 5,000 177,500
 Atlas Energy, Inc. 7,147 193,469
 BP Prudhoe Bay Royalty Trust (c) 2,400 179,160
 BPZ Resources, Inc. (a) 10,100 75,952
 Barnwell Industries, Inc. (a) 600 2,610
 Berry Petroleum Co., Class A 4,400 117,832
 Bill Barrett Corp. (a) 3,600 118,044
 BreitBurn Energy Partners LP 3,700 42,069
 Brigham Exploration Co. (a) 10,200 92,616
 CNX Gas Corp. (a) 2,800 85,960
 CREDO Petroleum Corp. (a) 1,700 17,204
 CVR Energy, Inc. (a) 5,854 72,824
 Callon Petroleum Co. (a) 1,100 2,013
 Cano Petroleum, Inc. (a) 10,900 13,843
 Carrizo Oil & Gas, Inc. (a) 3,900 95,511
 Cheniere Energy, Inc. (a) 9,500 27,835
 Cimarex Energy Co. 8,916 386,241
 Clayton Williams Energy, Inc. (a) 1,100 33,132

 40

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Comstock Resources, Inc. (a) 5,800 $ 232,464
 Concho Resources, Inc. (a) 7,800 283,296
 Contango Oil & Gas Co. (a) 1,500 76,590
 Continental Resources, Inc. (a) 3,200 125,344
 Cross Timbers Royalty Trust 956 29,148
 Delek US Holdings, Inc. 1,600 13,712
 Delta Petroleum Corp. (a) 24,435 42,761
 Dorchester Minerals LP 2,400 54,168
 Double Eagle Pete & Mining Co. (a) 1,800 8,604
 Dune Energy, Inc. (a) 7,800 1,170
 EXCO Resources, Inc. (a) 18,800 351,372
 Eagle Rock Energy Partners LP 5,400 23,220
 Edge Petroleum Corp. (a) 5,600 3,135
 Encore Acquisition Co. (a) 5,500 205,700
 Encore Energy Partners LP 3,700 59,089
 Endeavour International Corp. (a) 20,400 24,684
 Energen Corp. 8,700 374,970
 FX Energy, Inc. (a) 5,900 19,057
 Forest Oil Corp. (a) 12,500 244,625
 Frontier Oil Corp. 12,900 179,568
 GMX Resources Inc. (a) 3,500 54,985
 Gasco Energy, Inc. (a) 5,700 2,793
 GeoMet, Inc. (a) 100 169
 GeoPetro Resources Co. (a) 7,600 5,776
 GeoResources, Inc. (a) 1,200 13,260
 Global Partners LP 1,300 32,500
 Goodrich Petroleum Corp. (a) 3,700 95,497
 Gulfport Energy Corp. (a) 3,900 34,086
 Harvest Natural Resources, Inc. (a) 4,000 20,520
 Holly Corp. 5,700 146,034
 Houston American Energy Corp. 2,100 7,371
 Hugoton Royalty Trust 6,000 107,460
 John D. Oil & Gas Co. (a) 6,000 420
 Legacy Reserves LP 1,000 16,930
 Linn Energy LLC (c) 7,800 178,698
 Mariner Energy, Inc. (a) 10,508 149,003
 Martin Midstream Partners LP 1,400 37,324
 McMoRan Exploration Co. (a) 7,200 54,360
 Meridian Resource Corp. (a) 5,100 2,091
 Newfield Exploration Co. (a) 14,598 621,291
 Northern Oil And Gas, Inc. (a) 2,200 18,480
 Panhandle Oil & Gas, Inc. 900 19,224
 Parallel Petroleum Corp. (a) 8,400 26,628
 Penn Virginia Corp. 6,100 139,751
 PetroHawk Energy Corp. (a) 34,701 840,111
 Petroleum Development Corp. (a) 2,480 46,277

 41

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Petroquest Energy, Inc. (a) 7,300 $ 47,377
 Pioneer Southwest Energy Partners LP 700 14,728
 Plains Exploration & Production Co. (a) 15,019 415,426
 Quest Energy Partners LP 2,300 5,290
 Quest Resource Corp. (a) 4,000 2,360
 Quicksilver Resources, Inc. (a) 14,860 210,863
 Ram Energy Resources, Inc. (a) 7,700 9,317
 Regency Energy Partners LP 1,700 33,337
 Rex Energy Corp. (a) 4,600 38,410
 Rosetta Resources, Inc. (a) 5,700 83,733
 SandRidge Energy, Inc. (a) 18,300 237,168
 Southern Union Co. 12,854 267,235
 St. Mary Land & Exploration Co. 6,900 223,974
 Stone Energy Corp. (a) 5,609 91,483
 Swift Energy Co. (a) 4,100 97,088
 Syntroleum Corp. (a) 9,000 24,300
 Toreador Resources Corp. 3,400 33,966
 Tri-Valley Corp. (a)(c) 4,300 11,696
 Ultra Petroleum Corp. (a) 18,100 886,176
 Vaalco Energy, Inc. (a) 6,500 29,900
 Venoco, Inc. (a) 2,700 31,077
 W&T Offshore, Inc. 3,000 35,130
 Warren Resources, Inc. (a) 6,500 19,240
 Western Gas Partners LP 2,100 37,170
 Western Refining, Inc. (a) 8,145 52,535
 Whiting Petroleum Corp. (a) 6,300 362,754
 Williams Partners LP 1,400 32,606
 Zion Oil & Gas, Inc. (a) 963 9,399
 ----------------
 10,284,739
------------------------------------------------------------------------------------------------------------------------------------
OIL EQUIPMENT, SERVICES & Allis-Chalmers Energy, Inc. (a) 2,000 8,720
DISTRIBUTION - 3.7% Atlas Pipeline Holdings LP 1,100 4,180
 Atlas Pipeline Partners LP 4,400 32,164
 Atwood Oceanics, Inc. (a) 6,100 215,147
 Basic Energy Services, Inc. (a) 2,600 22,074
 Boardwalk Pipeline Partners LP 3,900 96,798
 Bolt Technology Corp. (a) 1,300 16,341
 Boots & Coots, Inc. (a) 6,900 11,109
 Bristow Group, Inc. (a) 2,900 86,101
 Bronco Drilling Co., Inc. (a) 3,500 22,925
 Buckeye GP Holdings LP 1,700 40,970
 Buckeye Partners LP (c) 2,500 121,025
 CARBO Ceramics, Inc. 2,750 141,762
 Cal Dive International, Inc. (a) 4,075 40,302
 Chart Industries, Inc. (a) 3,100 66,929
 Cheniere Energy Partners LP 2,600 25,350
 Complete Production Services, Inc. (a) 5,900 66,670

 42

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Copano Energy LLC Common Units 1,600 $ 29,120
 Crosstex Energy LP 4,300 22,661
 Crosstex Energy, Inc. 7,900 41,712
 DCP Midstream Partners LP 800 19,880
 Dawson Geophysical Co. (a) 1,300 35,594
 Dresser-Rand Group, Inc. (a) 9,100 282,737
 Dril-Quip, Inc. (a) 3,300 163,812
 El Paso Pipeline Partners LP 900 18,657
 Enbridge Energy Management LLC (a) 1,343 60,556
 Enbridge Energy Partners LP 3,800 171,228
 Energy Transfer Equity LP 10,800 302,400
 Energy Transfer Partners LP 5,400 229,770
 Enterprise GP Holdings LP 1,200 35,496
 Enterprise Products Partners LP 18,005 509,902
 Exterran Holdings, Inc. (a) 7,463 177,172
 Exterran Partners LP 1,200 21,600
 Flotek Industries, Inc. (a) 2,400 4,944
 Genesis Energy LP 3,100 49,879
 Geokinetics, Inc. (a) 1,500 31,800
 Global Industries Ltd. (a) 11,730 111,435
 Gulf Island Fabrication, Inc. 1,630 30,546
 Gulfmark Offshore, Inc. (a) 2,500 81,850
 Helix Energy Solutions Group, Inc. (a) 10,184 152,556
 Helmerich & Payne, Inc. 10,400 411,112
 Hercules Offshore, Inc. (a) 13,100 64,321
 Hiland Holdings GP LP 1,800 4,284
 Hiland Partners LP 600 4,590
 Holly Energy Partners LP 1,200 46,812
 Hornbeck Offshore Services, Inc. (a) 3,100 85,436
 ION Geophysical Corp. (a) 9,600 33,792
 Key Energy Services, Inc. (a) 13,600 118,320
 Kinder Morgan Energy Partners LP (c) 10,400 561,808
 Kinder Morgan Management LLC (a) 3,508 166,104
 Lufkin Industries, Inc. 2,200 116,996
 Magellan Midstream Partners LP (c) 7,446 279,979
 MarkWest Energy Partners LP (c) 2,282 53,924
 Matrix Service Co. (a) 3,000 32,610
 Mitcham Industries, Inc. (a) 1,700 10,540
 NATCO Group, Inc., Class A (a) 2,200 97,416
 NGAS Resources, Inc. (a) 4,700 11,233
 Natural Gas Services Group (a) 2,200 38,764
 Newpark Resources, Inc. (a) 6,900 22,149
 Nustar Energy LP 2,000 103,680
 Nustar GP Holdings LLC 3,000 74,400
 OGE Energy Corp. 11,600 383,728
 ONEOK Partners LP 3,100 164,021

 43

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 OYO Geospace Corp. (a) 1,100 $ 28,413
 Oceaneering International, Inc. (a) 5,900 334,825
 Oil States International, Inc. (a) 5,500 193,215
 Omni Energy Services Corp. (a) 3,600 5,580
 PHI, Inc. (a) 1,900 38,532
 Parker Drilling Co. (a) 12,500 68,250
 Patterson-UTI Energy, Inc. 19,010 287,051
 Pioneer Drilling Co. (a) 5,500 40,370
 Plains All American Pipeline LP (a) 7,241 335,186
 Pride International, Inc. (a) 18,400 560,096
 RPC, Inc. 3,375 35,370
 SEACOR Holdings, Inc. (a) 2,177 177,709
 Seahawk Drilling, Inc. (a) 1,773 55,123
 Spectra Energy Partners LP 1,700 41,344
 Sulphco, Inc. (a)(c) 12,700 17,399
 Sunoco Logistics Partners LP 1,600 94,800
 Superior Energy Services, Inc. (a) 8,226 185,250
 Superior Well Services, Inc. (a) 2,100 20,328
 T-3 Energy Services, Inc. (a) 2,200 43,340
 TC PipeLines LP 1,400 53,340
 TEPPCO Partners LP 4,300 149,296
 Targa Resources Partners LP 1,700 31,892
 Teekay LNG Partners LP 2,000 49,640
 Teekay Offshore Partners LP 1,900 31,293
 Tesco Corp. (a) 2,300 18,354
 Tetra Technologies, Inc. (a) 8,250 79,943
 Tidewater, Inc. 6,355 299,257
 Transmontaigne Partners LP 1,400 37,660
 Trico Marine Services, Inc. (a) 3,300 25,476
 Union Drilling, Inc. (a) 2,700 20,628
 Unit Corp. (a) 5,000 206,250
 Williams Pipeline Partners LP 1,800 34,488
 ----------------
 10,089,591
------------------------------------------------------------------------------------------------------------------------------------
PERSONAL GOODS - 1.2% Alberto-Culver Co. 9,370 259,362
 American Apparel, Inc. (a) 3,100 10,881
 Bare Escentuals, Inc. (a) 6,600 78,474
 Carter's, Inc. (a) 6,200 165,540
 Charles & Colvard Ltd. (a) 1,750 997
 Chattem, Inc. (a) 2,600 172,666
 Cherokee, Inc. 1,900 45,543
 Columbia Sportswear Co. 1,600 65,856
 Crocs, Inc. (a) 9,000 59,850
 Culp, Inc. (a) 600 3,342
 Deckers Outdoor Corp. (a) 1,800 152,730
 Elizabeth Arden, Inc. (a) 3,300 38,841
 FGX International Holdings Ltd. (a) 2,200 30,690
 Fossil, Inc. (a) 6,117 174,029

 44

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 G-III Apparel Group, Ltd. (a) 1,200 $ 16,980
 Hanesbrands, Inc. (a) 9,900 211,860
 Heelys, Inc. 3,700 7,844
 Helen of Troy Ltd. (a) 2,800 54,404
 Iconix Brand Group, Inc. (a) 7,281 90,794
 Inter Parfums, Inc. 2,450 29,915
 Joe's Jeans, Inc. (a) 2,300 1,587
 Jones Apparel Group, Inc. 9,500 170,335
 K-Swiss, Inc., Class A 3,200 28,128
 Kenneth Cole Productions, Inc., Class A 1,800 18,054
 Lacrosse Footwear, Inc. 500 6,075
 Lakeland Industries, Inc. (a) 1,210 9,995
 Liz Claiborne, Inc. 13,600 67,048
 Maidenform Brands, Inc. (a) 1,600 25,696
 Movado Group, Inc. 2,600 37,778
 Oxford Industries, Inc. 1,900 37,430
 Parlux Fragrances, Inc. (a) 1,100 2,376
 Perry Ellis International, Inc. (a) 2,100 33,684
 Phillips-Van Heusen Corp. 6,300 269,577
 Phoenix Footwear Group, Inc. (a) 1,000 470
 Physicians Formula Holdings, Inc. (a) 1,000 2,810
 Quiksilver, Inc. (a) 12,500 34,375
 Revlon, Inc., Class A (a) 2,989 14,527
 Rocky Brands, Inc. (a) 1,000 6,170
 Skechers U.S.A., Inc., Class A (a) 4,700 80,558
 Steven Madden Ltd. (a) 2,100 77,301
 Superior Uniform Group, Inc. 1,500 11,670
 Tandy Brands Accessories, Inc. 200 682
 Timberland Co., Class A (a) 4,000 55,680
 True Religion Apparel, Inc. (a) 2,800 72,604
 Under Armour, Inc., Class A (a)(c) 4,000 111,320
 Unifi, Inc. (a) 3,200 10,240
 Volcom, Inc. (a) 2,200 36,256
 The Warnaco Group, Inc. (a) 5,800 254,388
 Weyco Group, Inc. 700 16,030
 Wolverine World Wide, Inc. 5,400 134,136
 ----------------
 3,297,578
------------------------------------------------------------------------------------------------------------------------------------
PHARMACEUTICALS & BIOTECHNOLOGY - AMAG Pharmaceuticals, Inc. (a) 2,300 100,464
4.4% ARCA Biopharma, Inc. (a) 511 1,814
 ARYx Therapeutics, Inc. (a) 2,900 9,077
 AVI BioPharma, Inc. (a) 19,800 34,056
 Aastrom Biosciences, Inc. (a) 14,600 6,323
 The Abraxis Bioscience, Inc. (a) 613 22,301
 Acadia Pharmaceuticals, Inc. (a) 4,500 7,695
 Acorda Therapeutics, Inc. (a) 4,200 97,776
 Acura Pharmaceuticals, Inc. (a) 2,600 13,286
 Adolor Corp. (a) 7,200 11,448

 45

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Affymax, Inc. (a) 1,300 $ 31,057
 Affymetrix, Inc. (a) 9,260 81,303
 Akorn, Inc. (a) 8,100 11,097
 Albany Molecular Research, Inc. (a) 2,000 17,320
 Alexion Pharmaceuticals, Inc. (a) 9,900 440,946
 Alexza Pharmaceuticals, Inc. (a) 3,600 8,100
 Alkermes, Inc. (a) 10,400 95,576
 Allos Therapeutics, Inc. (a) 9,900 71,775
 Alnylam Pharmaceuticals, Inc. (a) 3,900 88,452
 Altus Pharmaceuticals, Inc. (a) 500 100
 Amicus Therapeutics, Inc. (a) 1,700 14,875
 Amylin Pharmaceuticals, Inc. (a) 15,400 210,826
 Anadys Pharmaceuticals, Inc. (a) 8,800 23,144
 Anesiva, Inc. (a) 400 104
 Antigenics, Inc. (a)(c) 12,100 25,047
 Ardea Biosciences, Inc. (a) 1,900 34,808
 Arena Pharmaceuticals, Inc. (a)(c) 13,640 60,971
 Ariad Pharmaceuticals, Inc. (a) 18,700 41,514
 Arqule, Inc. (a) 5,130 23,290
 Array Biopharma, Inc. (a) 5,200 12,376
 AspenBio Pharma, Inc. (a) 1,500 3,060
 Auxilium Pharmaceuticals, Inc. (a) 5,500 188,155
 Avanir Pharmaceuticals, Inc. (a) 7,050 14,664
 Avigen, Inc. (a) 1,000 1,490
 BioCryst Pharmaceuticals, Inc. (a)(c) 4,400 36,256
 BioMarin Pharmaceuticals, Inc. (a) 11,100 200,688
 BioMimetic Therapeutics, Inc. (a) 1,750 21,367
 Biodel, Inc. (a) 600 3,222
 CEL-SCI Corp. (a)(c) 23,000 39,560
 CPEX Pharmaceuticals, Inc. (a) 90 894
 Cadence Pharmaceuticals, Inc. (a) 2,300 25,438
 Caliper Life Sciences, Inc. (a) 2,385 6,726
 Caraco Pharmaceutical Laboratories Ltd. (a) 1,400 7,126
 Celera Corp. (a) 8,800 54,824
 Cell Genesys, Inc. (a) 5,750 2,001
 Cell Therapeutics, Inc. (a)(c) 63,395 77,976
 Celldex Therapeutics, Inc. (a) 4,666 25,616
 Cerus Corp. (a) 10,900 23,871
 Charles River Laboratories International, Inc. (a) 7,492 277,054
 Chelsea Therapeutics International, Inc. (a) 5,000 12,550
 Columbia Laboratories, Inc. (a) 7,400 9,546
 Cubist Pharmaceuticals, Inc. (a) 7,900 159,580
 CuraGen Corp. (a) 8,400 12,348
 Curis, Inc. (a) 3,300 7,722
 Cypress Bioscience, Inc. (a) 4,200 34,314
 CytRx Corp. (a) 24,700 27,664

 46

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Cytokinetics, Inc. (a) 4,200 $ 22,218
 Cytori Therapeutics, Inc. (a) 6,400 25,280
 Dendreon Corp. (a) 14,030 392,700
 Depomed, Inc. (a) 7,300 31,901
 Discovery Laboratories, Inc. (a) 26,700 36,312
 Durect Corp. (a) 7,200 19,224
 Dusa Pharmaceuticals, Inc. (a) 1,300 1,417
 Dyax Corp. (a) 8,000 28,720
 Dynavax Technologies Corp. (a) 5,100 9,282
 EPIX Pharmaceuticals, Inc. (a) 7,566 106
 Emergent Biosolutions, Inc. (a) 2,500 44,150
 Emisphere Technologies, Inc. (a) 4,800 3,643
 Endo Pharmaceuticals Holdings, Inc. (a) 12,900 291,927
 Entremed, Inc. (a) 4,300 1,935
 Enzo Biochem, Inc. (a) 3,973 28,129
 Enzon Pharmaceuticals, Inc. (a) 5,500 45,375
 EpiCept Corp. (a)(c) 673 604
 Exact Sciences Corp. (a) 1,600 4,448
 Exelixis, Inc. (a) 11,500 73,370
 Facet Biotech Corp. (a) 3,680 63,627
 GTC Biotherapeutics, Inc. (a) 900 1,440
 GTx, Inc. (a)(c) 2,400 30,720
 Gen-Probe, Inc. (a) 6,400 265,216
 GenVec, Inc. (a) 28,200 21,742
 General Liquidating Trust Certificates (a) 566 1
 Genomic Health, Inc. (a) 2,100 45,906
 Genta, Inc. (a) 26 26
 Geron Corp. (a) 11,400 74,784
 Halozyme Therapeutics, Inc. (a) 7,300 51,903
 Harvard Bioscience, Inc. (a) 1,520 5,761
 Helicos BioSciences Corp. (a) 500 1,430
 Hemispherx Biopharma, Inc. (a)(c) 22,200 44,400
 Hi-Tech Pharmacal Co., Inc. (a) 1,775 39,831
 Hollis-Eden Pharmaceuticals, Inc. (a) 2,300 1,357
 Human Genome Sciences, Inc. (a)(c) 18,100 340,642
 Idenix Pharmaceuticals, Inc. (a) 3,600 11,124
 Idera Pharmaceuticals, Inc. (a) 2,100 15,561
 Illumina, Inc. (a)(c) 15,192 645,660
 ImmunoGen, Inc. (a) 5,600 45,416
 Immunomedics, Inc. (a) 10,300 56,856
 Impax Laboratories, Inc. (a) 4,200 36,708
 Incyte Corp. (a) 11,200 75,600
 Infinity Pharmaceuticals, Inc. (a) 1,000 6,230
 Inovio Biomedical Corp. (a) 13,600 21,488
 Insmed, Inc. (a) 13,600 11,152
 Inspire Pharmaceuticals, Inc. (a) 6,300 32,886

 47

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 InterMune, Inc. (a) 3,800 $ 60,534
 Isis Pharmaceuticals, Inc. (a) 9,900 144,243
 Ista Pharmaceuticals, Inc. (a) 5,300 23,638
 Javelin Pharmaceuticals, Inc. (a) 6,200 12,090
 Jazz Pharmaceuticals, Inc. (a)(c) 3,800 30,476
 K-V Pharmaceutical Co., Class A (a) 4,100 12,587
 Keryx Biopharmaceuticals, Inc. (a) 11,900 27,846
 La Jolla Pharmaceutical Co. (a) 5,540 1,173
 Lexicon Genetics, Inc. (a) 3,100 6,603
 Ligand Pharmaceuticals, Inc., Class B (a) 10,594 24,472
 Luminex Corp. (a) 5,300 90,100
 MAP Pharmaceuticals, Inc. (a) 300 3,138
 MDRNA, Inc. (a) 3,390 4,746
 MannKind Corp. (a)(c) 7,400 72,890
 Matrixx Initiatives, Inc. (a) 1,800 10,224
 Maxygen, Inc. (a) 4,300 28,767
 Medicines Co. (a) 7,470 82,245
 Medicis Pharmaceutical Corp., Class A 6,500 138,775
 Medivation, Inc. (a) 3,300 89,562
 Micromet, Inc. (a)(c) 5,733 38,182
 MiddleBrook Pharmaceuticals, Inc. (a) 8,000 9,200
 Molecular Insight Pharmaceuticals, Inc. (a) 3,700 20,461
 Momenta Pharmaceuticals, Inc. (a) 3,400 36,074
 Myriad Genetics, Inc. (a) 12,100 331,540
 Myriad Pharmaceuticals, Inc. (a) 5,100 29,886
 NPS Pharmaceuticals, Inc. (a) 6,340 25,487
 Nabi Biopharmaceuticals (a) 5,700 20,463
 Nektar Therapeutics (a) 10,100 98,374
 Neurocrine Biosciences, Inc. (a) 5,345 16,302
 Neurogen Corp. (a) 2,600 614
 Nile Therapeutics, Inc. (a) 4,900 8,085
 Novavax, Inc. (a)(c) 11,700 46,332
 OSI Pharmaceuticals, Inc. (a) 6,567 231,815
 Obagi Medical Products, Inc. (a) 2,700 31,320
 OncoGenex Pharmaceutical, Inc. (a) 700 25,200
 Onyx Pharmaceuticals, Inc. (a) 7,700 230,769
 Opko Health, Inc. (a) 8,500 19,380
 Optimer Pharmaceuticals, Inc. (a)(c) 3,700 50,061
 Orchid Cellmark, Inc. (a) 1,745 2,932
 Ore Pharmaceuticals, Inc. (a) 380 247
 Orexigen Therapeutics, Inc. (a) 5,400 53,190
 Orthologic Corp. (a) 4,100 3,239
 Osiris Therapeutics, Inc. (a)(c) 2,000 13,320
 OxiGene, Inc. (a) 2,000 2,840
 PDL BioPharma, Inc. 16,600 130,808
 Pain Therapeutics, Inc. (a) 4,500 22,770

 48

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Palatin Technologies, Inc. (a) 10,600 $ 3,604
 Par Pharmaceutical Cos., Inc. (a) 4,800 103,248
 Penwest Pharmaceuticals Co. (a) 4,600 9,614
 Peregrine Pharmaceuticals, Inc. (a)(c) 20,800 14,352
 Perrigo Co. 9,000 305,910
 Pharmacyclics, Inc. (a) 3,849 7,544
 Pharmasset, Inc. (a) 2,300 48,622
 Poniard Pharmaceuticals, Inc. (a) 933 6,979
 Pozen, Inc. (a) 3,300 24,288
 Prestige Brands Holdings, Inc. (a) 3,900 27,456
 Progenics Pharmaceuticals, Inc. (a) 3,200 16,768
 Questcor Pharmaceuticals, Inc. (a) 6,900 38,088
 RXi Pharmaceuticals Corp. (a) 507 1,242
 Raptor Pharmaceutical Corp. (a) 22 73
 Regeneron Pharmaceuticals, Inc. (a) 6,800 131,240
 Repligen Corp. (a) 3,300 16,533
 Repros Therapeutics, Inc. (a) 1,300 1,170
 Rexahn Pharmaceuticals, Inc. (a) 5,000 4,400
 Rigel Pharmaceuticals, Inc. (a) 4,065 33,333
 SIGA Technologies, Inc. (a) 4,000 31,560
 Salix Pharmaceuticals Ltd. (a) 6,503 138,254
 Sangamo Biosciences, Inc. (a)(c) 4,200 34,482
 Santarus, Inc. (a) 2,700 8,883
 Savient Pharmaceuticals, Inc. (a) 8,084 122,877
 Sciclone Pharmaceuticals, Inc. (a) 7,700 32,802
 Seattle Genetics, Inc. (a) 7,944 111,454
 Sepracor, Inc. (a) 11,655 266,900
 Sequenom, Inc. (a)(c) 8,566 27,668
 Somaxon Pharmaceuticals, Inc. (a) 3,000 7,140
 Spectrum Pharmaceuticals, Inc. (a) 5,916 39,815
 StemCells, Inc. (a) 19,100 31,133
 Strategic Diagnostics, Inc. (a) 5,000 8,800
 Sucampo Pharmaceuticals, Inc., Class A (a) 900 5,247
 SuperGen, Inc. (a) 3,130 8,357
 Synta Pharmaceuticals Corp. (a) 2,100 6,510
 Targacept, Inc. (a) 500 10,685
 Targeted Genetics Corp. (a) 850 276
 Techne Corp. 4,000 250,200
 Telik, Inc. (a) 8,430 6,693
 Theravance, Inc. (a) 5,500 80,520
 Threshold Pharmaceuticals, Inc. (a) 1,216 2,213
 Transcept Pharmaceuticals, Inc. (a) 800 11,064
 Transgenomic, Inc. (a) 900 630
 Trimeris, Inc. 2,900 7,076
 Trubion Pharmaceuticals, Inc. (a) 400 2,024
 Unigene Laboratories, Inc. (a) 10,700 13,375

 49

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 United Therapeutics Corp. (a) 5,800 $ 284,142
 Valeant Pharmaceuticals International (a) 7,800 218,868
 Vanda Pharmaceuticals, Inc. (a) 3,700 43,068
 Vertex Pharmaceuticals, Inc. (a) 21,362 809,620
 Via Pharmaceuticals, Inc. (a) 9 3
 Vical, Inc. (a) 7,500 31,950
 Vion Pharmaceuticals, Inc. (a) 330 333
 ViroPharma, Inc. (a) 7,400 71,188
 Vivus, Inc. (a) 9,400 98,230
 XOMA Ltd. (a) 28,400 23,004
 Xenoport, Inc. (a) 3,000 63,690
 ZymoGenetics, Inc. (a) 5,900 35,636
 ----------------
 11,982,675
------------------------------------------------------------------------------------------------------------------------------------
REAL ESTATE INVESTMENT & SERVICES - American Realty Investors, Inc. (a) 500 5,785
0.5% Avatar Holdings, Inc. (a) 700 13,300
 Brookfield Properties Corp. 29,300 329,918
 California Coastal Communities, Inc. (a) 3,200 4,960
 Consolidated-Tomoka Land Co. 300 11,490
 Forest City Enterprises, Inc., Class A 13,100 175,147
 Forestar Group, Inc. (a) 3,333 57,261
 Grubb & Ellis Co. (a) 4,922 8,318
 HFF, Inc., Class A (a) 2,700 18,198
 Hilltop Holdings, Inc. (a) 5,680 69,637
 Jones Lang LaSalle, Inc. 5,025 238,034
 LoopNet, Inc. (a) 4,000 36,160
 Market Leader, Inc. (a) 1,600 3,456
 Maui Land & Pineapple Co., Inc. (a) 400 2,516
 Move, Inc. (a) 12,824 34,625
 Reis, Inc. (a) 2,000 10,800
 The St. Joe Co. (a)(c) 10,200 297,024
 Stratus Properties, Inc. (a) 200 1,630
 Tejon Ranch Co. (a) 900 23,112
 Thomas Properties Group, Inc. 2,600 7,514
 Transcontinental Realty Investors, Inc. (a) 100 1,170
 W.P. Carey & Co. LLC 2,500 70,775
 ZipRealty, Inc. (a) 1,049 4,406
 ----------------
 1,425,236
------------------------------------------------------------------------------------------------------------------------------------
REAL ESTATE INVESTMENT TRUSTS AMB Property Corp. (b) 15,800 362,610
(REITs) - 5.6% Acadia Realty Trust 3,427 51,645
 Agree Realty Corp. 1,400 32,102
 Alesco Financial, Inc. (a) 1,795 2,244
 Alexander's, Inc. 300 88,764
 Alexandria Real Estate Equities, Inc. (b)(c) 4,800 260,880
 American Campus Communities, Inc. 6,375 171,169
 American Capital Agency Corp. 2,300 65,435
 Annaly Capital Management, Inc. 64,400 1,168,216

 50

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Anthracite Capital, Inc. (d) 8,800 $ 9,240
 Anworth Mortgage Asset Corp. 15,500 122,140
 Arbor Realty Trust, Inc. 2,800 7,952
 Arlington Asset Investment Corp. (a) 9,710 4,758
 Ashford Hospitality Trust, Inc. 10,000 34,600
 Associated Estates Realty Corp. 4,000 38,480
 BRE Properties 6,735 210,806
 BRT Realty Trust 2,000 11,400
 BioMed Realty Trust, Inc. 10,600 146,280
 Brandywine Realty Trust 13,914 153,611
 CBL & Associates Properties, Inc. (c) 15,120 146,664
 Camden Property Trust 6,757 272,307
 CapLease, Inc. 5,600 22,568
 Capital Trust, Inc. 2,100 6,384
 Capstead Mortgage Corp. 9,200 127,972
 Care Investment Trust, Inc. 2,700 20,709
 Cedar Shopping Centers, Inc. 5,400 34,830
 Chimera Investment Corp. 68,100 260,142
 Cogdell Spencer, Inc. 6,700 32,160
 Colonial Properties Trust 4,600 44,758
 Corporate Office Properties Trust 7,200 265,536
 Cousins Properties, Inc. 9,250 76,590
 Cypress Sharpridge Investments, Inc. 2,500 35,500
 DCT Industrial Trust, Inc. 21,600 110,376
 Developers Diversified Realty Corp. 13,922 128,639
 DiamondRock Hospitality Co. 15,200 123,120
 Digital Realty Trust, Inc. 7,800 356,538
 Douglas Emmett, Inc. 12,500 153,500
 Duke Realty Corp. 23,775 285,538
 Dupont Fabros Technology, Inc. 4,700 62,651
 Dynex Capital Corp. 1,200 10,116
 Eastgroup Properties, Inc. 2,700 103,194
 Education Realty Trust, Inc. 6,990 41,451
 Entertainment Properties Trust 3,600 122,904
 Equity Lifestyle Properties Inc. 2,700 115,533
 Equity One, Inc. (c) 3,655 57,274
 Essex Property Trust, Inc. 3,400 270,572
 Extra Space Storage, Inc. 12,160 128,288
 FBR Capital Markets Corp. (a) 5,647 33,487
 Federal Realty Investment Trust 7,240 444,319
 FelCor Lodging Trust, Inc. 6,800 30,804
 First Industrial Realty Trust, Inc. 6,700 35,175
 First Potomac Realty Trust 3,000 34,680
 Franklin Street Properties Corp. 7,000 91,700
 Getty Realty Corp. 1,900 46,626

 51

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Gladstone Commercial Corp. 2,000 $ 27,360
 Glimcher Realty Trust 8,100 29,727
 Government Properties Income Trust (a) 1,100 26,411
 Gramercy Capital Corp. 6,539 15,890
 HRPT Properties Trust 25,200 189,504
 Hatteras Financial Corp. 4,900 146,902
 Healthcare Realty Trust, Inc. 6,500 137,345
 Hersha Hospitality Trust 8,300 25,730
 Highwoods Properties, Inc. 8,650 272,043
 Home Properties, Inc. 4,400 189,596
 Hospitality Properties Trust 15,257 310,785
 Inland Real Estate Corp. 6,400 56,064
 InvesCo. Mortgage Capital, Inc. (a) 1,900 41,515
 Investors Real Estate Trust 6,500 58,760
 iStar Financial, Inc. (c) 16,400 49,856
 JER Investors Trust, Inc. 95 70
 Kilroy Realty Corp. 5,500 152,570
 Kite Realty Group Trust 5,600 23,352
 LTC Properties, Inc. 2,000 48,080
 LTC-Amerivest Liquidating Trust (a) 4,400 -
 LaSalle Hotel Properties 8,600 169,076
 Lexington Corporate Properties Trust 9,256 47,206
 Liberty Property Trust 12,060 392,312
 MFA Financial, Inc. 34,500 274,620
 The Macerich Co. (c) 9,472 287,286
 Mack-Cali Realty Corp. 9,000 290,970
 Maguire Properties, Inc. (a) 11,000 23,100
 Medical Properties Trust, Inc. 7,100 55,451
 Mid-America Apartment Communities, Inc. 3,100 139,903
 Mission West Properties, Inc. 1,100 7,403
 Monmouth Real Estate Investment Corp., Class A 2,462 17,136
 National Health Investors, Inc. 2,100 66,465
 National Retail Properties, Inc. 8,591 184,449
 Nationwide Health Properties, Inc. 12,800 396,672
 New York Mortgage Trust, Inc. 3,300 25,080
 Newcastle Investment Corp. 10,905 32,388
 NorthStar Realty Finance Corp. (c) 10,985 38,557
 Omega Healthcare Investors, Inc. 8,600 137,772
 One Liberty Properties, Inc. 1,187 10,683
 PMC Commercial Trust 2,125 15,534
 PS Business Parks, Inc. 2,200 112,904
 Parkway Properties, Inc. 2,900 57,130
 Pennsylvania Real Estate Investment Trust (c) 4,399 33,476
 Pennymac Mortgage Investment Trust (a) 1,950 38,825
 Post Properties, Inc. 4,900 88,200
 Potlatch Corp. 4,159 118,324

 52

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 RAIT Investment Trust 6,600 $ 19,404
 Ramco-Gershenson Properties Trust 2,000 17,840
 Rayonier, Inc. 8,371 342,458
 Realty Income Corp. (c) 12,700 325,755
 Redwood Trust, Inc. 6,600 102,300
 Regency Centers Corp. 9,600 355,680
 Roberts Realty Investors, Inc. 490 711
 SL Green Realty Corp. 8,282 363,166
 Saul Centers, Inc. 1,300 41,730
 Senior Housing Properties Trust 13,700 261,807
 Sovran Self Storage, Inc. 2,400 73,032
 Starwood Property Trust, Inc. 4,956 100,359
 Strategic Hotel Capital, Inc. 16,000 41,440
 Sun Communities, Inc. 2,600 55,952
 Sunstone Hotel Investors, Inc. 8,780 62,338
 Supertel Hospitality, Inc. 300 645
 Tanger Factory Outlet Centers, Inc. 4,100 153,094
 Taubman Centers, Inc. 6,800 245,344
 U-Store-It Trust 8,319 51,994
 UDR, Inc. 18,464 290,623
 UMH Properties, Inc. 500 4,075
 Universal Health Realty Income Trust 1,300 42,315
 Urstadt Biddle Properties, Inc. 1,300 17,108
 Urstadt Biddle Properties, Inc., Class A 900 13,131
 Walter Investment Management Corp. 3,118 49,950
 Washington Real Estate Investment Trust 6,000 172,800
 Weingarten Realty Investors 12,675 252,486
 Winthrop Realty Trust 3,071 29,912
 ----------------
 15,424,868
------------------------------------------------------------------------------------------------------------------------------------
SOFTWARE & COMPUTER SERVICES - 4.6% j2 Global Communications, Inc. (a) 5,100 117,351
 ACI Worldwide, Inc. (a) 3,600 54,468
 AMICAS, Inc. (a) 3,400 12,240
 Accelrys, Inc. (a) 3,000 17,400
 Actuate Corp. (a) 4,800 27,744
 Advent Software, Inc. (a)(c) 1,900 76,475
 American Software, Class A 4,300 28,079
 Analysts International Corp. (a) 200 144
 Answers Corp. (a) 800 7,400
 Ansys, Inc. (a) 9,506 356,190
 ArcSight, Inc. (a) 3,000 72,210
 Ariba, Inc. (a) 12,154 140,986
 Art Technology Group, Inc. (a) 14,071 54,314
 athenahealth, Inc. (a) 4,100 157,317
 Atrinsic, Inc. (a) 2,231 2,432
 Authentidate Holding Corp. (a) 2,000 2,820
 BSQUARE Corp. (a) 1,150 2,990
 BigBand Networks, Inc. (a) 4,400 17,644

 53

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Blackbaud, Inc. 4,748 $ 110,153
 Blackboard, Inc. (a) 3,100 117,118
 Bottomline Technologies, Inc. (a) 1,500 19,350
 CACI International, Inc., Class A (a) 4,000 189,080
 CSG Systems International, Inc. (a) 4,165 66,681
 Cadence Design Systems, Inc. (a) 27,700 203,318
 Callidus Software, Inc. (a) 1,900 5,719
 Cerner Corp. (a) 7,700 575,960
 Chordiant Software, Inc. (a) 3,020 11,748
 Ciber, Inc. (a) 3,800 15,200
 Cicero, Inc. (a) 1 -
 Clearwire Corp., Class A (a)(c) 7,200 58,536
 Cogent Communications Group, Inc. (a) 5,700 64,410
 CommVault Systems, Inc. (a) 4,300 89,225
 Communication Intelligence Corp. (a) 700 91
 Computer Programs & Systems, Inc. 1,900 78,679
 Concur Technologies, Inc. (a) 5,100 202,776
 Convera Corp. (a) 9,200 2,208
 DST Systems, Inc. (a) 4,200 188,160
 DealerTrack Holdings, Inc. (a) 4,200 79,422
 Delrek, Inc. (a) 2,613 20,094
 Deltathree, Inc., Class A (a) 100 47
 DemandTec, Inc. (a) 2,500 22,075
 Diamond Management & Technology Consultants, Inc. 3,000 20,550
 Digimarc Corp. (a) 1,700 25,823
 Digital River, Inc. (a) 4,900 197,568
 DivX, Inc. (a) 4,500 24,570
 Double-Take Software, Inc. (a) 2,700 27,513
 Dynamics Research Corp. (a) 1,400 18,228
 EPIQ Systems, Inc. (a) 3,400 49,300
 EarthLink, Inc. 15,000 126,150
 Ebix, Inc. (a) 1,300 71,968
 Eclipsys Corp. (a) 6,000 115,800
 Egain Communications Corp. (a) 20 17
 Epicor Software Corp. (a) 5,700 36,309
 Equinix, Inc. (a) 4,515 415,380
 Evolve Software, Inc. (a) 2 -
 Evolving Systems, Inc. (a) 1,600 11,120
 Fair Isaac Corp. 5,051 108,546
 FalconStor Software, Inc. (a) 5,800 28,826
 Forrester Research, Inc. (a) 1,500 39,960
 GSE Systems, Inc. (a) 1,203 7,483
 Gartner, Inc., Class A (a) 6,080 111,082
 Guidance Software, Inc. (a) 3,000 13,260
 The Hackett Group, Inc. (a) 4,200 12,180
 i2 Technologies, Inc. (a) 2,600 41,704

 54

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 IAC/InterActiveCorp. (a) 14,350 $ 289,727
 ICF International, Inc. (a) 1,100 33,352
 iGate Corp. 4,900 42,042
 Imergent, Inc. 1,800 14,184
 Immersion Corp. (a) 4,800 20,544
 Informatica Corp. (a) 11,000 248,380
 Infospace, Inc. (a) 3,840 29,722
 Innodata Corp. (a) 4,600 36,570
 Inter Allscripts - Misys Healthcare Solutions, Inc. 7,045 142,802
 Interactive Intelligence, Inc. (a) 2,100 40,131
 Internap Network Services Corp. (a) 5,610 18,008
 Internet Capital Group, Inc. (a) 4,275 35,739
 Ipass, Inc. 5,900 8,142
 Isilon Systems, Inc. (a) 5,300 32,330
 JDA Software Group, Inc. (a) 3,400 74,596
 Kenexa Corp. (a) 2,200 29,656
 Keynote Systems, Inc. (a) 2,400 22,632
 Lawson Software, Inc. (a) 13,700 85,488
 LivePerson, Inc. (a) 5,600 28,224
 LookSmart, Ltd. (a) 1,342 1,557
 MAXIMUS, Inc. 2,000 93,200
 MSC.Software Corp. (a) 3,100 26,071
 Magma Design Automation, Inc. (a) 4,440 9,280
 Manhattan Associates, Inc. (a) 3,200 64,640
 Mastech Holdings, Inc. (a) 346 1,592
 MedAssets, Inc. (a) 3,200 72,224
 Mentor Graphics Corp. (a) 9,700 90,307
 Merge Healthcare, Inc. (a) 3,500 14,385
 MicroStrategy, Inc., Class A (a) 1,390 99,441
 Monotype Imaging Holdings, Inc. (a) 1,100 9,251
 NCI, Inc., Class A (a) 1,500 42,990
 NIC, Inc. 4,000 35,560
 NaviSite, Inc. (a) 313 685
 NetScout Systems, Inc. (a) 2,900 39,179
 NetSol Technologies, Inc. (a) 20 19
 NetSuite, Inc. (a) 1,500 22,950
 Nuance Communications, Inc. (a) 27,335 408,932
 Omniture, Inc. (a) 9,576 205,309
 On2 Technologies, Inc. (a)(c) 19,400 11,446
 OpenTV Corp. (a) 13,000 17,940
 Openwave Systems, Inc. (a) 6,061 15,759
 Opnet Technologies, Inc. 1,200 13,116
 PC-Tel, Inc. (a) 2,300 14,375
 PDF Solutions, Inc. (a) 300 1,047
 PLATO Learning, Inc. (a) 4,591 19,833
 PROS Holdings, Inc. (a) 1,800 15,156

 55

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Parametric Technology Corp. (a) 15,000 $ 207,300
 Pegasystems, Inc. 2,400 82,872
 Perficient, Inc. (a) 3,400 28,118
 Perot Systems Corp., Class A (a) 9,500 282,150
 Phase Forward, Inc. (a) 4,700 65,988
 Phoenix Technologies Ltd. (a) 3,200 11,680
 Pomeroy IT Solutions, Inc. (a) 2,300 14,835
 Progress Software Corp. (a) 4,400 99,660
 QAD, Inc. 1,700 7,735
 Quality Systems, Inc. (c) 2,500 153,925
 Quest Software, Inc. (a) 8,400 141,540
 Rackspace Hosting, Inc. (a) 9,900 168,894
 Renaissance Learning, Inc. 1,700 16,898
 RightNow Technologies, Inc. (a) 2,700 38,988
 RiskMetrics Group, Inc. (a) 2,700 39,474
 Rosetta Stone, Inc. (a) 1,200 27,552
 Rovi Corp. (a) 8,699 292,286
 S1 Corp. (a) 6,000 37,080
 SAIC, Inc. (a) 24,800 434,992
 SAVVIS, Inc. (a) 4,033 63,802
 SPSS, Inc. (a) 2,209 110,340
 SRA International, Inc., Class A (a) 4,300 92,837
 SRS Labs Inc. (a) 2,800 20,468
 Saba Software, Inc. (a) 1,229 5,174
 Sapient Corp. (a) 9,600 77,184
 Scientific Learning Corp. (a) 100 347
 Selectica, Inc. (a) 11,400 3,762
 Smith Micro Software, Inc. (a) 3,200 39,552
 SolarWinds, Inc. (a) 600 13,218
 Solera Holdings, Inc. 7,600 236,436
 Sonic Solutions, Inc. (a) 3,000 17,790
 Sourcefire, Inc. (a) 2,200 47,234
 Stanley, Inc. (a) 1,900 48,868
 SuccessFactors, Inc. (a) 3,700 52,059
 Support.com Inc. (a) 5,000 12,000
 Switch and Data Facilities Co., Inc. (a) 3,100 42,191
 Sybase, Inc. (a) 10,255 398,920
 Synchronoss Technologies, Inc. (a) 2,400 29,928
 Synopsys, Inc. (a) 17,605 394,704
 Syntel, Inc. 2,400 114,552
 TIBCO Software, Inc. (a) 22,900 217,321
 Taleo Corp., Class A (a) 4,400 99,616
 TeleCommunication Systems, Inc., Class A (a) 5,500 45,980
 Terremark Worldwide, Inc. (a) 2,800 17,416
 Tyler Technologies, Inc. (a) 4,000 68,360
 Ultimate Software Group, Inc. (a) 3,100 89,032

 56

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Unica Corp. (a) 100 $ 762
 Unisys Corp. (a) 36,500 97,455
 United Online, Inc. 8,974 72,151
 VASCO Data Security International, Inc. (a) 3,300 24,486
 VMware, Inc. (a) 5,200 208,884
 Virtusa Corp. (a) 2,700 25,623
 Vital Images, Inc. (a) 2,300 28,796
 Vocus, Inc. (a) 2,100 43,869
 Wave Systems Corp., Class A (a) 666 574
 Web.Com Group, Inc. (a) 3,523 24,978
 Websense, Inc. (a) 4,700 78,960
 Zanett, Inc. (a) 125 65
 Zix Corp. (a) 12,800 28,160
 ----------------
 12,495,925
------------------------------------------------------------------------------------------------------------------------------------
SUPPORT SERVICES - 4.2% 3PAR, Inc. (a) 2,500 27,575
 A.M. Castle & Co. 2,000 19,880
 ABM Industries, Inc. 5,000 105,200
 AMN Healthcare Services, Inc. (a) 4,420 42,034
 AMREP Corp. (a) 500 6,600
 APAC Customer Services, Inc. (a) 3,400 20,094
 ATG, Inc. (a) 1,100 -
 Acacia Research - Acacia Technologies (a) 3,300 28,743
 Acxiom Corp. 7,000 66,220
 Administaff, Inc. 2,500 65,675
 The Advisory Board Co. (a) 1,900 47,766
 Aecom Technology Corp. (a) 10,200 276,828
 Alliance Data Systems Corp. (a)(c) 7,100 433,668
 American Caresource Holdings, Inc. (a) 1,000 4,370
 American Dental Partners, Inc. (a) 1,500 21,000
 American Ecology Corp. 2,360 44,132
 American Reprographics Co. (a) 4,200 39,984
 Applied Industrial Technologies, Inc. 4,300 90,988
 Arcadia Resources, Inc. (a) 6,100 6,344
 Barnes Group, Inc. 3,800 64,942
 Barrett Business Services, Inc. 800 8,464
 Black Box Corp. 1,900 47,671
 Bowne & Co., Inc. 3,109 23,939
 The Brink's Co. 6,100 164,151
 Brink's Home Security Holdings, Inc. (a) 4,600 141,634
 Broadridge Financial Solutions LLC 17,000 341,700
 CBIZ, Inc. (a) 6,545 48,826
 CDI Corp. 1,500 21,075
 COMSYS IT Partners, Inc. (a) 1,400 8,960
 CRA International, Inc. (a) 1,400 38,206
 Cardtronics, Inc. (a) 600 4,692
 Casella Waste Systems, Inc. (a) 4,600 13,524

 57

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Cass Information Systems, Inc. 500 $ 14,930
 Ceco Environmental Corp. (a) 1,900 7,125
 Cenveo, Inc. (a) 4,100 28,372
 Champion Industries, Inc. 700 1,393
 Clean Harbors, Inc. (a) 2,800 157,528
 CoStar Group, Inc. (a) 2,400 98,928
 Coinstar, Inc. (a) 3,900 128,622
 Comfort Systems USA, Inc. 4,400 50,996
 Consolidated Graphics, Inc. (a) 1,900 47,405
 Cornell Cos., Inc. (a) 1,700 38,148
 Corporate Executive Board Co. 3,600 89,640
 Corrections Corp. of America (a) 13,000 294,450
 Courier Corp. 537 8,135
 Crawford & Co., Class B (a) 3,200 14,112
 Cross Country Healthcare, Inc. (a) 3,600 33,516
 CyberSource Corp. (a) 9,150 152,530
 DXP Enterprises, Inc. (a) 1,600 17,840
 Deluxe Corp. 4,600 78,660
 Dice Holdings, Inc. (a) 3,100 20,336
 Document Security Systems, Inc. (a) 2,500 5,850
 ENGlobal Corp. (a) 700 2,884
 EVCI Career Colleges Holding Corp. (a) 1 -
 Electro Rent Corp. 1,000 11,520
 eLoyalty Corp. (a) 40 320
 Emdeon, Inc., Class A (a) 2,759 44,696
 EnergySolutions, Inc. 8,400 77,448
 Ennis, Inc. 2,300 37,099
 Euronet Worldwide, Inc. (a) 5,245 126,037
 ExlService Holdings, Inc. (a) 2,300 34,178
 Exponent, Inc. (a) 1,700 47,889
 FTI Consulting, Inc. (a) 6,350 270,573
 First Advantage Corp., Class A (a) 1,300 24,115
 Frontline Capital Group (a) 300 -
 Fuel Tech, Inc. (a) 3,600 40,320
 Furmamite Corp. (a) 2,100 9,051
 G&K Services, Inc., Class A 2,000 44,320
 GATX Corp. 4,500 125,775
 GP Strategies Corp. (a) 3,400 25,466
 Genpact Ltd. (a) 5,800 71,340
 The Geo Group, Inc. (a) 5,700 114,969
 GeoEye, Inc. (a) 2,300 61,640
 Global Cash Access, Inc. (a) 4,400 32,164
 Global Payments, Inc. 8,720 407,224
 Great Lakes Dredge & Dock Corp. 6,000 41,880
 HLTH Corp. (a)(c) 10,092 147,444
 Harris Interactive, Inc. (a) 3,900 3,978

 58

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Heartland Payment Systems, Inc. 3,200 $ 46,432
 Heidrick & Struggles International, Inc. 2,800 65,128
 Hewitt Associates, Inc., Class A (a) 10,620 386,887
 Hudson Highland Group, Inc. (a) 1,800 5,472
 Huron Consulting Group, Inc. (a) 3,200 82,656
 ICT Group, Inc. (a) 800 8,400
 Innerworkings, Inc. (a) 4,400 21,736
 Interline Brands, Inc. (a) 3,600 60,660
 Jack Henry & Associates, Inc. 10,400 244,088
 Kaman Corp., Class A 2,800 61,544
 Kelly Services, Inc., Class A 3,400 41,820
 Kforce, Inc. (a) 4,070 48,921
 Korn/Ferry International (a) 4,700 68,573
 LECG Corp. (a) 3,900 13,689
 Lawson Products, Inc. 534 9,297
 Lender Processing Services, Inc. 10,300 393,151
 Lincoln Educational Services Corp. (a) 1,000 22,880
 Lionbridge Technologies, Inc. (a) 5,700 14,820
 M&F Worldwide Corp. (a) 1,600 32,384
 MPS Group, Inc. (a) 8,800 92,576
 MSC Industrial Direct Co., Class A 4,600 200,468
 MWI Veterinary Supply, Inc. (a) 1,400 55,930
 Management Network Group, Inc. (a) 3,900 2,496
 Manpower, Inc. 8,516 482,942
 McGrath RentCorp 2,000 42,540
 Metalico, Inc. (a) 2,900 12,093
 Metavante Technologies, Inc. (a) 9,500 327,560
 Michael Baker Corp. (a) 900 32,706
 Mobile Mini, Inc. (a) 3,400 59,024
 Moduslink Global Solutions, Inc. (a) 5,070 41,016
 Multi-Color Corp. 1,300 20,059
 Nalco Holding Co. 15,400 315,546
 National CineMedia, Inc. 5,100 86,547
 Navigant Consulting, Inc. (a) 5,200 70,200
 NeuStar, Inc., Class A (a) 8,400 189,840
 Odyssey Marine Exploration, Inc. (a) 3,200 5,952
 On Assignment, Inc. (a) 2,500 14,625
 Online Resources Corp. (a) 1,900 11,723
 Onvia, Inc. (a) 60 361
 PRG-Schultz International, Inc. (a) 4,070 22,792
 Park-Ohio Holdings Corp. (a) 1,500 13,080
 Perma-Fix Environmental Services (a) 700 1,638
 Pfsweb, Inc. (a) 25 43
 PowerSecure International, Inc. (a) 1,900 12,882
 Premiere Global Services, Inc. (a) 5,885 48,904
 Protection One, Inc. (a) 1,175 5,182

 59

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 RSC Holdings, Inc. (a)(c) 4,900 $ 35,623
 Rentrak Corp. (a) 200 3,572
 Resources Connection, Inc. (a) 4,900 83,594
 SYKES Enterprises, Inc. (a) 3,600 74,952
 Schnitzer Steel Industries, Inc., Class A 2,750 146,438
 School Specialty, Inc. (a) 2,000 47,440
 Spherion Corp. (a) 5,700 35,397
 Stamps.com, Inc. (a) 2,650 24,513
 The Standard Register Co. 1,800 10,584
 Startek, Inc. (a) 800 6,944
 Symyx Technologies, Inc. (a) 2,400 15,888
 Team, Inc. (a) 2,100 35,595
 TechTeam Global, Inc. (a) 2,300 19,550
 TeleTech Holdings, Inc. (a) 4,000 68,240
 Tetra Tech, Inc. (a) 8,025 212,903
 Thomas Group, Inc. (a) 2,000 2,600
 Tier Technologies, Inc., Class B (a) 2,000 16,960
 TrueBlue, Inc. (a) 5,100 71,757
 URS Corp. (a) 9,893 431,829
 Unifirst Corp. 1,700 75,565
 United Rentals, Inc. (a) 5,660 58,298
 United Stationers, Inc. (a) 2,600 123,786
 Universal Technical Institute, Inc. (a) 2,655 52,304
 Viad Corp. 2,250 44,798
 Volt Information Sciences, Inc. (a) 1,600 19,552
 Waste Connections, Inc. (a) 10,025 289,322
 Watson Wyatt Worldwide, Inc. 4,440 193,406
 Wright Express Corp. (a) 4,300 126,893
 ----------------
 11,491,297
------------------------------------------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT - 3Com Corp. (a) 47,790 249,942
6.8% 3D Systems Corp. (a) 2,200 20,306
 ADC Telecommunications, Inc. (a) 12,800 106,752
 AXT, Inc. (a) 1,200 2,304
 Acme Packet, Inc. (a) 4,700 47,047
 Actel Corp. (a) 2,900 35,293
 Adaptec, Inc. (a) 13,400 44,756
 Adtran, Inc. 7,980 195,909
 Advanced Analogic Technologies, Inc. (a) 5,000 19,850
 Advanced Energy Industries, Inc. (a) 3,500 49,840
 Agilysys, Inc. 3,300 21,747
 Airvana, Inc. (a) 2,000 13,540
 Alliance Fiber Optic Products, Inc. (a) 1,400 1,778
 American Technology Corp. (a) 1,700 3,009
 Amkor Technology, Inc. (a) 11,610 79,877
 Amtech Systems, Inc. (a) 100 530
 Anadigics, Inc. (a) 7,000 32,970

 60

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Applied Micro Circuits Corp. (a) 9,475 $ 94,655
 Arris Group, Inc. (a) 13,498 175,609
 Aruba Networks, Inc. (a) 6,900 60,996
 Atheros Communications, Inc. (a) 8,000 212,240
 Atmel Corp. (a) 39,700 166,343
 Audiovox Corp., Class A (a) 2,200 15,070
 AuthenTec, Inc. (a) 3,100 8,680
 Avocent Corp. (a) 4,800 97,296
 Aware, Inc. (a) 900 2,196
 Axcelis Technologies, Inc. (a) 7,500 9,000
 Bell Microproducts, Inc. (a) 2,135 7,451
 Blue Coat Systems, Inc. (a) 4,140 93,522
 Brightpoint, Inc. (a) 5,656 49,490
 Brocade Communications Systems, Inc. (a) 49,057 385,588
 Brooks Automation, Inc. (a) 6,782 52,425
 Cabot Microelectronics Corp. (a) 2,600 90,636
 CalAmp Corp. (a) 1,300 3,640
 California Micro Devices CP (a) 4,000 12,880
 Cavium Networks, Inc. (a) 5,300 113,791
 Ceva, Inc. (a) 2,103 22,607
 Cirrus Logic, Inc. (a) 10,000 55,600
 Cohu, Inc. 2,400 32,544
 Compellent Technologies, Inc. (a) 1,800 32,490
 Comtech Telecommunications Corp. (a) 4,000 132,880
 Concurrent Computer Corp. (a) 390 1,794
 Conexant Systems, Inc. (a) 5,254 14,396
 Cray, Inc. (a) 3,675 30,613
 Cree, Inc. (a) 11,300 415,275
 Crown Castle International Corp. (a) 28,490 893,446
 Cymer, Inc. (a) 3,905 151,748
 Cypress Semiconductor Corp. (a) 19,300 199,369
 DSP Group, Inc. (a) 3,900 31,746
 Dataram Corp. (a) 100 339
 Diebold, Inc. 7,000 230,510
 Digi International, Inc. (a) 2,800 23,856
 Digital Lightwave, Inc. (a) 3,600 144
 DigitalGlobe, Inc. (a) 800 17,896
 Diodes, Inc. (a) 3,450 62,410
 Ditech Networks, Inc. (a) 2,000 4,180
 Dot Hill Systems Corp. (a) 4,100 7,134
 Dycom Industries, Inc. (a) 4,133 50,836
 EF Johnson Technologies, Inc. (a) 3,700 4,958
 EMS Technologies, Inc. (a) 2,000 41,640
 EchoStar Holding Corp. (a) 4,673 86,264
 Electroglas, Inc. (a) 1,700 14
 Electronics for Imaging, Inc. (a) 5,600 63,112
 eMagin Corp. (a) 20 33

 61

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Emcore Corp. (a)(c) 8,600 $ 11,180
 Emulex Corp. (a) 11,100 114,219
 EndWare Corp. (a) 1,000 3,180
 Entegris, Inc. (a) 12,336 61,063
 Entorian Technologies, Inc. (a) 9,200 4,324
 Entropic Communications, Inc. (a) 5,700 15,618
 Exar Corp. (a) 5,457 40,109
 Extreme Networks, Inc. (a) 13,000 36,400
 F5 Networks, Inc. (a) 9,600 380,448
 FSI International, Inc. (a) 5,300 6,148
 Fairchild Semiconductor International, Inc. (a) 15,500 158,565
 Finisar Corp. (a) 4,617 44,691
 Formfactor, Inc. (a) 5,300 126,776
 Fusion Telecommunications International, Inc. (a) 4,500 855
 GTSI Corp. (a) 1,700 13,668
 Gerber Scientific, Inc. (a) 3,800 22,724
 Globecomm Systems, Inc. (a) 2,300 16,721
 Harmonic, Inc. (a) 10,500 70,140
 Harris Stratex Networks, Inc., Class A (a) 8,900 62,300
 Hittite Microwave Corp. (a) 2,100 77,238
 Hughes Communications, Inc. (a) 900 27,306
 Hutchinson Technology, Inc. (a) 2,995 21,265
 Hypercom Corp. (a) 3,100 9,610
 ICO Global Communications Holdings Ltd. (a) 15,100 12,986
 ID Systems, Inc. (a) 1,600 6,352
 IXYS Corp. 2,700 22,977
 iGO, Inc. (a) 1,700 1,853
 Ikanos Communications, Inc. (a) 5,800 13,514
 Imation Corp. 3,300 30,591
 Infinera Corp. (a) 10,300 81,885
 Infosonics Corp. (a) 3,600 5,148
 Ingram Micro, Inc., Class A (a) 17,130 288,641
 Insight Enterprises, Inc. (a) 4,000 48,840
 Integral Systems, Inc. (a) 4,880 33,672
 Integrated Device Technology, Inc. (a) 22,370 151,221
 Integrated Silicon Solutions, Inc. (a) 2,170 8,159
 Intellon Corp. (a) 400 2,836
 InterDigital, Inc. (a) 5,900 136,644
 Intermec, Inc. (a) 5,000 70,500
 International Rectifier Corp. (a) 7,100 138,379
 Intersil Corp., Class A 15,315 234,473
 Ixia (a) 2,600 17,836
 KVH Industries, Inc. (a) 2,700 26,973
 Kopin Corp. (a) 4,500 21,600
 Kulicke & Soffa Industries, Inc. (a) 6,800 41,004
 LTX-Credence Corp. (a) 23,535 38,833
 Lam Research Corp. (a) 15,300 522,648

 62

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Lantronix, Inc. (a) 2,100 $ 1,197
 LaserCard Corp. (a) 3,195 26,966
 Lattice Semiconductor Corp. (a) 12,770 28,733
 Leadis Technology, Inc. (a) 6,100 6,100
 Limelight Networks, Inc. (a) 7,100 28,826
 Loral Space & Communications Ltd. (a) 1,400 38,472
 MIPS Technologies, Inc. (a) 4,900 18,473
 MKS Instruments, Inc. (a) 4,553 87,827
 Marvell Technology Group Ltd. (a) 59,300 960,067
 Mastec, Inc. (a) 5,100 61,965
 Mattson Technology, Inc. (a) 5,200 14,664
 Maxim Integrated Products, Inc. 34,900 633,086
 Mercury Computer Systems, Inc. (a) 1,400 13,804
 Micrel, Inc. 5,660 46,129
 Micros Systems, Inc. (a) 8,900 268,691
 Microsemi Corp. (a) 8,917 140,799
 Microtune, Inc. (a) 2,000 3,640
 Mindspeed Technologies, Inc. (a) 1,193 3,436
 MoSys, Inc. (a) 1,855 4,638
 Monolithic Power Systems, Inc. (a) 3,300 77,385
 NCR Corp. (a) 19,874 274,659
 NETGEAR, Inc. (a) 4,500 82,575
 Nanometrics, Inc. (a) 3,700 24,309
 NetList, Inc. (a) 4,500 3,103
 Netlogic Microsystems, Inc. (a) 2,500 112,500
 Network Engines, Inc. (a) 7,500 8,325
 Network Equipment Technologies, Inc. (a) 1,800 13,014
 Neutral Tandem, Inc. (a) 4,800 109,248
 Nextwave Wireless, Inc. (a) 26,600 23,674
 Novatel Wireless, Inc. (a) 4,786 54,369
 ON Semiconductor Corp. (a) 48,481 399,968
 Occam Networks, Inc. (a) 400 1,480
 Oclaro, Inc. (a) 19,781 21,759
 Omnivision Technologies, Inc. (a) 7,000 113,960
 OpNext, Inc. (a) 3,400 9,962
 Oplink Communications, Inc. (a) 2,200 31,944
 Optical Cable Corp. (a) 247 748
 Overland Storage, Inc. (a) 800 824
 PAR Technology Corp. (a) 1,000 6,380
 PC Connection, Inc. (a) 3,000 16,320
 PLX Technology, Inc. (a) 2,900 9,773
 PMC-Sierra, Inc. (a) 24,000 229,440
 Palm, Inc. (a)(c) 15,326 267,132
 ParkerVision, Inc. (a)(c) 1,200 4,908
 Peco II, Inc. (a) 90 268
 Performance Technologies, Inc. (a) 500 1,435

 63

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Pericom Semiconductor Corp. (a) 3,200 $ 31,392
 Photronics, Inc. (a) 4,300 20,382
 Pixelworks, Inc. (a) 1,100 3,718
 Plantronics, Inc. 5,100 136,731
 Polycom, Inc. (a) 10,429 278,976
 Power Integrations, Inc. 3,200 106,656
 Preformed Line Products Co. 400 16,020
 Presstek, Inc. (a) 3,140 6,625
 Quantum Corp. (a) 19,700 24,822
 QuickLogic Corp. (a) 200 340
 RF Micro Devices, Inc. (a) 30,086 163,367
 Radiant Systems, Inc. (a) 3,100 33,294
 Radisys Corp. (a) 2,800 24,332
 Rambus, Inc. (a)(c) 11,700 203,580
 Rimage Corp. (a) 1,600 27,344
 Riverbed Technology, Inc. (a) 7,300 160,308
 Rudolph Technologies, Inc. (a) 3,428 25,367
 SBA Communications Corp., Class A (a) 13,000 351,390
 SCM Microsystems, Inc. (a) 800 1,928
 STEC, Inc. (a)(c) 4,600 135,194
 SYNNEX Corp. (a) 2,000 60,960
 ScanSource, Inc. (a) 2,900 82,128
 SeaChange International, Inc. (a) 3,100 23,250
 Seagate Technology 57,432 873,541
 Semitool, Inc. (a) 2,400 20,280
 Semtech Corp. (a) 6,300 107,163
 Shoretel, Inc. (a) 1,700 13,277
 Sigma Designs, Inc. (a) 4,300 62,479
 Silicon Graphics International Corp. (a) 5,400 36,234
 Silicon Image, Inc. (a) 8,200 19,926
 Silicon Laboratories, Inc. (a) 5,700 264,252
 Silicon Storage Technology, Inc. (a) 6,000 14,520
 Skyworks Solutions, Inc. (a) 21,300 282,012
 Smart Modular Technologies WWH, Inc. (a) 2,900 13,804
 Sonic Foundry, Inc. (a) 6,500 4,160
 SonicWALL, Inc. (a) 5,900 49,560
 Sonus Networks, Inc. (a) 22,000 46,640
 Standard Microsystems Corp. (a) 2,400 55,704
 Starent Networks Corp. (a) 5,700 144,894
 Stratasys, Inc. (a) 2,440 41,870
 Super Micro Computer, Inc. (a) 3,900 32,994
 Superconductor Technologies, Inc. (a) 432 1,296
 Supertex, Inc. (a) 2,200 66,000
 Sycamore Networks, Inc. (a) 20,300 61,306
 Symmetricom, Inc. (a) 4,876 25,258
 Synaptics, Inc. (a)(c) 4,550 114,660
 Syniverse Holdings, Inc. (a) 7,300 127,750

 64

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Systemax, Inc. (a) 1,200 $ 14,556
 TNS, Inc. (a) 2,800 76,720
 Tech Data Corp. (a) 6,400 266,304
 Techwell, Inc. (a) 1,900 20,862
 Tegal Corp. (a) 841 1,068
 Tekelec (a) 6,300 103,509
 Telkonet, Inc. (a) 3,300 1,122
 Telular Corp. (a) 200 650
 Tessera Technologies, Inc. (a) 5,300 147,817
 TranSwitch Corp. (a) 22,535 15,775
 Transact Technologies, Inc. (a) 1,140 6,042
 TriQuint Semiconductor, Inc. (a) 20,045 154,747
 Trident Microsystems, Inc. (a) 6,900 17,871
 UTStarcom, Inc. (a)(c) 11,000 22,990
 Ultra Clean Holdings, Inc. (a) 3,700 19,092
 Ultratech, Inc. (a) 4,000 52,920
 Varian Semiconductor Equipment Associates, Inc. (a) 9,350 307,054
 Veraz Networks, Inc. (a) 3,300 3,069
 VeriFone Holdings, Inc. (a) 9,000 143,010
 Viasat, Inc. (a) 3,400 90,372
 Virage Logic Corp. (a) 2,300 11,983
 Volterra Semiconductor Corp. (a) 4,000 73,480
 Westell Technologies, Inc., Class A (a) 5,300 7,049
 White Electronic Designs Corp. (a) 3,100 14,322
 WorldGate Communications, Inc. (a) 200 149
 Zhone Technologies, Inc. (a) 7,424 3,712
 Zoran Corp. (a) 5,661 65,215
 ----------------
 18,793,024
------------------------------------------------------------------------------------------------------------------------------------
TOBACCO - 0.1% Alliance One International, Inc. (a) 13,700 61,376
 Schweitzer-Mauduit International, Inc. 2,100 114,156
 Star Scientific, Inc. (a)(c) 21,700 20,181
 Universal Corp. 3,345 139,888
 Vector Group Ltd. 4,737 73,795
 ----------------
 409,396
------------------------------------------------------------------------------------------------------------------------------------
TRAVEL & LEISURE - 3.8% AFC Enterprises, Inc. (a) 2,800 23,576
 AMR Corp. (a)(b) 34,800 276,660
 AirTran Holdings, Inc. (a) 13,400 83,750
 Alaska Air Group, Inc. (a) 3,800 101,802
 All-American SportPark, Inc. (a) 4,038 606
 Allegiant Travel Co. (a)(c) 2,100 79,989
 Ambassadors Group, Inc. 2,500 39,125
 Ambassadors International, Inc. (a) 1,800 1,854
 American Classic Voyages Co. (a) 100 -
 Ameristar Casinos, Inc. 2,500 39,450
 Avis Budget Group, Inc. (a) 12,840 171,542

 65

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 BJ's Restaurants, Inc. (a) 2,000 $ 29,980
 Bally Technologies, Inc. (a) 6,500 249,405
 Benihana, Inc., (a) 615 3,733
 Benihana, Inc. Class A (a) 2,630 15,070
 Bluegreen Corp. (a) 1,100 3,355
 Bob Evans Farms, Inc. 3,300 95,898
 Bowl America, Inc., Class A 210 2,679
 Boyd Gaming Corp. (a) 6,100 66,673
 Brinker International, Inc. 12,600 198,198
 Buffalo Wild Wings, Inc. (a) 2,600 108,186
 Burger King Holdings, Inc. 9,500 167,105
 CEC Entertainment, Inc. (a) 2,650 68,529
 CKE Restaurants, Inc. 5,600 58,744
 California Pizza Kitchen, Inc. (a) 3,000 46,860
 Carmike Cinemas, Inc. 2,500 25,275
 Cedar Fair, LP 4,900 51,597
 Century Casinos, Inc. (a) 5,100 14,790
 The Cheesecake Factory, Inc. (a) 7,417 137,363
 Chipotle Mexican Grill, Inc., Class A (a)(c) 3,700 359,085
 Choice Hotels International, Inc. 3,400 105,604
 Churchill Downs, Inc. 800 30,800
 Cinemark Holdings, Inc. 3,700 38,332
 Continental Airlines, Inc., Class B (a) 17,170 282,275
 Cosi, Inc. (a)(c) 5,500 3,464
 Cracker Barrel Old Country Store, Inc. 3,315 114,036
 Delta Air Lines, Inc. (a) 89,225 799,456
 Denny's Corp. (a) 10,600 28,196
 Diamondhead Casino Corp. (a) 4,600 4,140
 DineEquity, Inc. 1,700 42,075
 Dollar Thrifty Automotive Group, Inc. (a) 2,800 68,852
 Domino's Pizza, Inc. (a) 4,800 42,432
 Dover Downs Gaming & Entertainment, Inc. 3,116 17,761
 Dover Motorsports, Inc. 3,300 4,950
 Einstein Noah Restaurant Group, Inc. (a) 1,100 13,244
 Elixir Gaming Technologies, Inc. (a) 3,300 924
 Empire Resorts, Inc. (a) 5,300 15,953
 ExpressJet Holdings, Inc. (a) 160 400
 FLO Corp. (a) 65 1
 Famous Dave's of America, Inc. (a) 2,500 14,625
 Flanigan's Enterprises, Inc. (a) 200 1,110
 FortuNet, Inc. 2,100 3,927
 Full House Resorts, Inc. (a) 1,000 2,710
 Gaming Partners International Corp. (a) 1,400 8,120
 Gaylord Entertainment Co. (a) 3,720 74,772
 Great Lakes Aviation Ltd. (a) 700 714
 Great Wolf Resorts, Inc. (a) 1,800 6,426

 66

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Hawaiian Holdings, Inc. (a) 5,102 $ 42,143
 Hertz Global Holdings, Inc. (a)(c) 20,300 219,849
 InnSuites Hospitality Trust 800 976
 International Speedway Corp., Class A 3,200 88,224
 Interval Leisure Group, Inc. (a) 3,860 48,173
 Isle of Capri Casinos, Inc. (a) 2,900 34,191
 Jack in the Box, Inc. (a) 6,200 127,038
 JetBlue Airways Corp. (a) 32,175 192,407
 Krispy Kreme Doughnuts, Inc. (a) 6,400 22,848
 Landry's Restaurants, Inc. (a) 1,200 12,600
 Las Vegas Sands Corp. (a)(c) 50,300 847,052
 Life Time Fitness, Inc. (a) 4,100 115,005
 Live Nation, Inc. (a) 8,600 70,434
 Lodgian, Inc. (a) 1,100 1,826
 Luby's, Inc. (a) 1,700 7,140
 MGM Mirage (a)(c) 29,711 357,720
 MTR Gaming Group, Inc. (a) 2,100 6,426
 Marcus Corp. 1,500 19,185
 McCormick & Schmick's Seafood Restaurants, Inc. (a) 1,700 12,648
 Mesa Air Group, Inc. (a) 2,000 514
 Monarch Casino & Resort, Inc. (a) 1,900 20,444
 Morgans Hotel Group Co. (a) 3,800 20,596
 Multimedia Games, Inc. (a) 1,900 9,728
 O'Charleys, Inc. 2,105 19,724
 Orbitz Worldwide, Inc. (a) 4,800 29,664
 Orient Express Hotels Ltd., Class A 7,500 86,325
 P.F. Chang's China Bistro, Inc. (a) 3,295 111,931
 Panera Bread Co., Class A (a) 4,000 220,000
 Papa John's International, Inc. (a) 2,900 71,253
 Peet's Coffee & Tea, Inc. (a) 1,800 50,814
 Penn National Gaming, Inc. (a) 7,100 196,386
 Pinnacle Airlines Corp. (a) 3,100 20,770
 Pinnacle Entertainment, Inc. (a) 6,600 67,254
 Premier Exhibitions, Inc. (a) 3,700 3,848
 Priceline.com, Inc. (a) 4,933 817,990
 Reading International, Inc., Class A (a) 1,300 5,343
 Red Lion Hotels Corp. (a) 500 2,875
 Red Robin Gourmet Burgers, Inc. (a) 1,900 38,798
 Regal Entertainment Group, Series A 8,700 107,184
 Republic Airways Holdings, Inc. (a) 3,800 35,454
 Rick's Cabaret International, Inc. (a) 900 7,740
 Royal Caribbean Cruises Ltd. (c) 16,700 402,136
 Ruby Tuesday, Inc. (a) 5,400 45,468
 Ruth's Hospitality Group, Inc. (a) 3,400 14,348
 Scientific Games Corp., Class A (a) 7,400 117,142
 Shuffle Master, Inc. (a) 7,343 69,171

 67

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRY COMMON STOCKS SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 Silverleaf Resorts, Inc. (a) 6,600 $ 8,778
 Six Flags, Inc. (a) 11,700 1,767
 SkyWest, Inc. 6,000 99,480
 Sonesta International Hotels Corp., Class A 200 2,500
 Sonic Corp. (a) 6,737 74,511
 Speedway Motorsports, Inc. 1,500 21,585
 The Steak n Shake Co. (a) 2,900 34,133
 Steiner Leisure Ltd. (a) 1,600 57,216
 Texas Roadhouse, Inc., Class A (a) 5,700 60,534
 Town Sports International Holdings, Inc. (a) 700 1,757
 TravelCenters of America LLC (a) 3,460 19,341
 Travelzoo, Inc. (a) 1,100 15,543
 UAL Corp. (a)(c) 18,430 169,925
 US Airways Group, Inc. (a) 18,259 85,817
 VCG Holding Corp. (a) 2,600 5,720
 Vail Resorts, Inc. (a) 3,200 107,328
 Vanguard Airlines, Inc. (a) 200 -
 WMS Industries, Inc. (a) 5,500 245,080
 Wendy's 45,600 215,688
 World Wrestling Entertainment, Inc. 4,900 68,649
 Youbet.com, Inc. (a) 3,490 7,329
 ----------------
 10,367,644
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL COMMON STOCKS - 98.4% 270,044,029
------------------------------------------------------------------------------------------------------------------------------------
 WARRANTS (E)
------------------------------------------------------------------------------------------------------------------------------------
ALTERNATIVE ENERGY - 0.0% GreenHunter Energy, Inc. (expires 8/27/11) (f) 30 -
------------------------------------------------------------------------------------------------------------------------------------
AUTOMOBILES & PARTS - 0.0% Federal-Mogul Corp., Class A (expires 12/27/14) 249 65
------------------------------------------------------------------------------------------------------------------------------------
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0% Lantronix, Inc. (expires 2/09/11) 2 -
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL WARRANTS - 0.0% 65
------------------------------------------------------------------------------------------------------------------------------------
 RIGHTS
------------------------------------------------------------------------------------------------------------------------------------
PHARMACEUTICALS & BIOTECHNOLOGY - 0.0% Ligand Pharmaceuticals Inc. (expires 12/31/11) 4,000 -
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL RIGHTS - 0.0% -
------------------------------------------------------------------------------------------------------------------------------------
 OTHER INTERESTS (G)
------------------------------------------------------------------------------------------------------------------------------------
CHEMICALS - 0.0% Eden Bioscience Liquidating Trust 299 382
------------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL ENGINEERING - 0.0% Soft Branos Inc. 114 -
------------------------------------------------------------------------------------------------------------------------------------
OIL & GAS PRODUCERS - 0.0% PetroCorp, Inc. (Escrow Shares) 600 -
------------------------------------------------------------------------------------------------------------------------------------
PHARMACEUTICALS & BIOTECHNOLOGY - 0.0% Tripos, Inc. Liquidating Trust 700 -
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL OTHER INTERESTS - 0.0% 382
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL LONG-TERM INVESTMENTS
 (COST - $275,903,226) - 98.4% 270,044,476
------------------------------------------------------------------------------------------------------------------------------------

 68

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
 SHORT-TERM SECURITIES SHARES VALUE
------------------------------------------------------------------------------------------------------------------------------------
 BlackRock Liquidity Funds, TempCash, 0.28% (d)(h) 3,828,863 $ 3,828,863
------------------------------------------------------------------------------------------------------------------------------------
 BENEFICIAL
 INTEREST
 (000)
------------------------------------------------------------------------------------------------------------------------------------
 BlackRock Liquidity Series, LLC Money Market Series,
 0.29% (d)(h)(i) $ 19,123 19,122,860
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL SHORT-TERM SECURITIES
 (COST - $22,951,723) - 8.4% 22,951,723
------------------------------------------------------------------------------------------------------------------------------------
 TOTAL INVESTMENTS
 (COST - $298,854,949*) - 106.8% 292,996,199
 LIABILITIES IN EXCESS OF OTHER ASSETS - (6.8)% (18,749,841)
 ----------------
 NET ASSETS - 100.0% $ 274,246,358
 ================


 * The cost and unrealized appreciation (depreciation) of investments as of September 30, 2009, as computed
 for federal income tax purposes, were as follows:
 Aggregate cost $ 301,477,843
 ================
 Gross unrealized appreciation $ 43,714,289
 Gross unrealized depreciation (52,195,933)
 ----------------
 Net unrealized depreciation $ (8,481,644)
 ================
 (a)Non-income producing security.
 (b)All or a portion of security has been pledged as collateral in connection with open financial futures contracts.
 (c)Security, or a portion of security, is on loan.
 (d)Investments in companies considered to be an affiliate of the Series, for purposes of Section 2(a)(3) of the
 Investment Company Act of 1940, were as follows:
 ------------------------------------------------------------------------------------------------------------------------
 AFFILIATE PURCHASE COST SALE COST INCOME
 ------------------------------------------------------------------------------------------------------------------------
 Anthracite Capital Inc. $ 1,370 - -
 BlackRock, Inc. $ 98,520 - $ 5,304
 BlackRock Liquidity Funds,TempCash $ 3,828,863(1) - $ 21,749
 BlackRock Liquidity Series, LLC Cash Sweep Series - $6,982,379(2) $ 8,529
 BlackRock Liquidity Series, LLC Money Market Series $ 10,791,427(1) - $ 122,080
 ------------------------------------------------------------------------------------------------------------------------
 (1)Represents net purchase cost.
 (2)Represents net sale cost.
 (e)Warrants entitle the Series to purchase a predetermined number of shares of common stock and are non-income producing.
 The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date.
 (f)Restricted security as to resale, representing 0.0% of net assets, were as follows:
 ------------------------------------------------------------------------------------------------------------------------
 ISSUE ACQUISITION DATE(S) COST VALUE
 ------------------------------------------------------------------------------------------------------------------------
 GreenHunter Energy, Inc. 4/18/08-5/16/08 $ - $ -
 ------------------------------------------------------------------------------------------------------------------------
 (g)Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are
 non-income producing.
 (h)Represents the current yield as of report date.
 (i)Security was purchased with the cash proceeds from securities loans.

 69

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED) (PERCENTAGES SHOWN ARE BASED ON NET ASSETS)
------------------------------------------------------------------------------------------------------------------------------------
 - For Series compliance purposes, the Series' industry classifications refer to any one or more of the industry
 sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined
 by Series management. This definition may not apply for purposes of this report, which may combine industry
 sub-classifications for reporting ease.

 - Financial futures contracts purchased as of September 30, 2009 were as follows:
 ------------------------------------------------------------------------------------------------------------------------
 UNREALIZED
 CONTRACTS ISSUE EXPIRATION DATE FACE VALUE APPRECIATION
 ---------------------------------------------------------------------------------------------------------------
 15 Russell 200 Index December 2009 $ 893,056 11,444
 41 S&P 400 MidCap Index December 2009 $ 2,766,356 59,364
 ---------------------------------------------------------------------------------------------------------------
 TOTAL $ 70,808
 ==============

 70

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------
- Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 - Level 1 - price quotations in active markets/exchanges for identical securities

 - Level 2 - other observable inputs (including, but not limited to: quoted prices
 for similar assets or liabilities in markets that are active, quoted prices for
 identical or similar assets or liabilities in markets that are not active, inputs
 other than quoted prices that are observable for the assets or liabilities (such
 as interest rates, yield curves, volatilities, prepayment speeds, loss severities,
 credit risks and default rates) or other market-corroborated inputs)

 - Level 3 - unobservable inputs based on the best information available in the
 circumstances, to the extent observable inputs are not available (including the
 Series' own assumptions used in determining the fair value of investments)

 The inputs or methodology used for valuing securities are not necessarily an indication of
 the risk associated with investing in those securities. For information about the Series'
 policy regarding valuation of investments and other significant accounting policies, please
 refer to the Series' most recent financial statements as contained in its semi-annual report.

 The following table summarizes the inputs used as of September 30, 2009 in determining
 the fair valuation of the Series' investments:
 ----------------------------------------------------------------------------
 VALUATION INPUTS INVESTMENTS IN
 SECURITIES
 ----------------------------------------------------------------------------
 ASSETS
 ---------------------
 Level 1
 Long-Term Investments(1) $ 270,044,077
 Short-Term Securities 3,828,863
 ---------------------
 Total Level 1 273,872,940
 ---------------------
 Level 2
 Short-Term Securities 19,122,860
 ---------------------
 Level 3
 Long-Term Investments
 Chemicals 382
 Financial Services 16
 Pharmaceuticals & Biotechnology 1
 ---------------------
 Total Level 3 399
 ---------------------
 TOTAL $ 292,996,199
 =====================

 (1) See above Schedule of Investments for values in each industry excluding the
 industries in Level 3 within the table.

 71

MASTER EXTENDED MARKET INDEX SERIES OF QUANTITATIVE MASTER SERIES LLC

SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2009 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------
 VALUATION OTHER FINANCIAL
 INPUTS INSTRUMENTS(2)
 --------------------------------------------------------------------------
 ASSETS
 ---------------------
 Level 1 $ 70,808
 Level 2 -
 Level 3 -
 --------------------------------------------------------------------------
 TOTAL $ 70,808
 =====================
 (2) Other financial instruments are futures. Futures are valued at the
 unrealized appreciation/depreciation on the instrument.



 The following is a reconciliation of investments for unobservable inputs
 (Level 3) were used in determining fair value:
 ---------------------------------------------------------------------------------------------------------------
 INVESTMENTS IN SECURITIES
 ---------------------------------------------------------------------------------------------------------------
 FINANCIAL PHARMACEUTICALS
 CHEMICALS SERVICES & BIOTECHNOLOGY TOTAL
 ---------------------------------------------------------------------------------------------------------------
 Balance, as of December 31, 2008 - - - -
 Accrued discounts/premiums - - - -
 Realized gain (loss) - - - -
 Change in unrealized
 appreciation (depreciation) - - - -
 Net purchases (sales) - - - -
 Net transfers in/out of Level 3 $ 382 $ 16 $ 1 $ 399
 ---------------------------------------------------------------------------------------------------------------
 BALANCE, AS OF SEPTEMBER 30, 2009 $ 382 $ 16 $ 1 $ 399
 ================================================================

72

ITEM 2. CONTROLS AND PROCEDURES

The principal executive officer and principal financial officer of USAA Mutual Funds Trust (Trust) have concluded that the Trust's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report.

There were no significant changes or corrective actions with regard to significant deficiencies or material weaknesses in the Trust's internal controls or in other factors that could significantly affect the Trust's internal controls subsequent to the date of their evaluation.

ITEM 3. EXHIBITS.

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and 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: USAA MUTUAL FUNDS TRUST - Period Ended September 30, 2009 

By:* /s/ CHRISTOPHER P. LAIA
 --------------------------------------------------------------
 Signature and Title: Christopher P. Laia, Assistant Secretary

Date: NOVEMBER 20, 2009
 -------------------------------

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

By:* /s/ CHRISTOPHER W. CLAUS
 -----------------------------------------------------
 Signature and Title: Christopher W. Claus, President

Date: NOVEMBER 23, 2009
 ------------------------------


By:* /s/ ROBERTO GALINDO, JR.
 -----------------------------------------------------
 Signature and Title: Roberto Galindo, Jr., Treasurer

Date: NOVEMBER 23, 2009
 ------------------------------

*PRINT THE NAME AND TITLE OF EACH SIGNING OFFICER UNDER HIS OR HER SIGNATURE.

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