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Form N-PX · fund registrantSEC filer no. 1025836

QUANTITATIVE MASTER SERIES LLC

fund voting report, part of BlackRock and iShares

Vote records reported
15,996year to 30 June 2026
Against management
5.5%847 of 15,499 marked votes
Say-on-pay support
94.2%for, of for + against + abstain
Shareholder-proposal support
12.9%for, of for + against + abstain
93.2% for2.4% against4.5% other5.5% against management15,505 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

QUANTITATIVE MASTER SERIES LLC reported 15,996 vote records for the year to 30 June 2026. It marked 5.5% of its votes as cast against management (847 of 15,499), close to the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 3.5%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 94.2% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 12.9% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in CORPORATE GOVERNANCE (9.4% of 362), CAPITAL STRUCTURE (8.1% of 209) and SHAREHOLDER RIGHTS AND DEFENSES (7.1% of 113).

It reported 343.0 million shares out on loan at record dates, 18.78% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share5.5%6.2%10.6%
Say-on-pay support rate94.2%91.6%86.0%
Shareholder-proposal support rate12.9%27.5%33.9%
Shares on loan, share of shares held18.78%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS10,4239,7901425.9%
SECTION 14A SAY-ON-PAY VOTES1,8171,535956.7%
AUDIT-RELATED1,7861,78400.1%
INVESTMENT COMPANY MATTERS2200.0%
SHAREHOLDER RIGHTS AND DEFENSES11397167.1%
EXTRAORDINARY TRANSACTIONS18517782.7%
CAPITAL STRUCTURE211189228.1%
COMPENSATION664619456.8%
CORPORATE GOVERNANCE363311399.4%
ENVIRONMENT OR CLIMATE2020.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE4040.0%
DIVERSITY, EQUITY, AND INCLUSION2020.0%
OTHER SOCIAL ISSUES5500.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202415,9435.7%94.3%29.5%
year to 30 June 202515,4815.5%93.9%28.1%
year to 30 June 202615,9965.5%94.2%12.9%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, QUANTITATIVE MASTER SERIES LLC voted against management on 87 of the 1,567 it marked either way (5.6%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 49 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 29 proposals from security holders that could be told apart in the filings and on which it cast a vote, QUANTITATIVE MASTER SERIES LLC voted for 4 (13.8%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Calix, Inc.14 May 2026To hold an advisory vote on a stockholder proposal relating to a simple majority vote.
El Pollo Loco Holdings, Inc.26 May 2026Shareholder proposal: CORPORATE GOVERNANCE
MAREX GROUP PLC21 May 2026To authorise the Company to make political donations
Golden Ocean Group Limited19 Aug 2025The Bye-law Amendment. To approve an amendment to the bye-laws of Golden Ocean to clarify any ambiguity...

Shares on loan

QUANTITATIVE MASTER SERIES LLC reported 343.0 million shares on loan at record dates against 1.48 billion shares voted: 18.78% of the two together. Median fund registrant: 0.00%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

1 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
Master Small Cap Index Series15,9965.5%94.6%12.9%

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did QUANTITATIVE MASTER SERIES LLC vote on executive pay?

In the year to 30 June 2026 QUANTITATIVE MASTER SERIES LLC reported 1,630 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 1,535 were for (94.2%), 95 against and 0 abstentions. Counting one item per company meeting, it voted against management on 87 of the 1,567 say-on-pay items it marked either way. A further 49 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does QUANTITATIVE MASTER SERIES LLC vote against management?

5.5% of the time in the year to 30 June 2026: 847 of the 15,499 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did QUANTITATIVE MASTER SERIES LLC support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 2 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 12.9% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by QUANTITATIVE MASTER SERIES LLC (filer no. 1025836), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.