MML Blend Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Mutual Funds — 104.2% | ||||||||
Diversified Financial Services — 104.2% | ||||||||
iShares 5-10 Year Investment Grade Corporate Bond ETF | 497,160 | $ | 29,446,787 | |||||
iShares Core S&P 500 ETF | 545,366 | 216,957,502 | ||||||
iShares Core S&P Mid-Cap ETF | 65,904 | 17,153,493 | ||||||
iShares Core S&P Small-Cap ETF | 70,551 | 7,656,900 | ||||||
iShares Core S&P Total US Stock Market ETF (a) | 2,611,399 | 239,204,149 | ||||||
iShares Core Total USD Bond Market ETF | 2,349,140 | 123,917,135 | ||||||
iShares Core U.S. Aggregate Bond ETF | 1,088,787 | 123,936,624 | ||||||
iShares iBoxx High Yield Corporate Bond ETF (a) | 347,578 | 30,301,850 | ||||||
State Street Navigator Securities Lending Prime Portfolio (b) | 33,411,110 | 33,411,110 | ||||||
TOTAL MUTUAL FUNDS (Cost $782,167,933) | 821,985,550 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $782,167,933) | 821,985,550 |
Principal Amount | ||||||||
Short-Term Investments — 0.1% | ||||||||
Repurchase Agreement — 0.1% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (c) | $ | 1,134,189 | $ | 1,134,189 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,134,189) | 1,134,189 | |||||||
TOTAL INVESTMENTS — 104.3% (Cost $783,302,122) (d) | 823,119,739 | |||||||
Other Assets/(Liabilities) — (4.3)% | (34,212,584 | ) | ||||||
NET ASSETS — 100.0% | $ | 788,907,155 |
Abbreviation Legend
ETF Exchange-Traded Fund
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $35,803,758 or 4.54% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $3,139,938 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(b) | Represents investment of security lending cash collateral. (Note 2). |
(c) | Maturity value of $1,134,189. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $1,156,887. |
(d) | See Note 3 for aggregate cost for federal tax purposes. |
MML Dynamic Bond Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Principal Amount | Value | |||||||
Bonds & Notes — 96.8% | ||||||||
Bank Loans — 3.8% | ||||||||
Advertising — 0.0% | ||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
3.712% VRN 8/21/26 | $ | 39,698 | $ | 38,078 | ||||
Terrier Media Buyer, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 12/17/26 | 59,252 | 58,667 | ||||||
96,745 | ||||||||
Aerospace & Defense — 0.1% | ||||||||
Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 4.000% | ||||||||
4.750% VRN 3/01/28 | 85,000 | 84,211 | ||||||
TransDigm, Inc., 2020 Term Loan F, 1 mo. USD LIBOR + 2.250% | ||||||||
2.359% VRN 12/09/25 | 169,591 | 165,916 | ||||||
250,127 | ||||||||
Airlines — 0.1% | ||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, | ||||||||
0.000% 4/20/28 (a) | 120,000 | 122,813 | ||||||
American Airlines, Inc., 2017 Incremental Term Loan, 1 mo. USD LIBOR + 2.000% | ||||||||
2.106% VRN 12/15/23 | 74,081 | 70,686 | ||||||
Kestrel Bidco Inc., Term Loan B, 6 mo. USD LIBOR + 3.000% | ||||||||
4.000% VRN 12/11/26 | 69,063 | 66,926 | ||||||
260,425 | ||||||||
Auto Parts & Equipment — 0.1% | ||||||||
Clarios Global LP, 2021 USD Term Loan B, 3 mo. USD LIBOR + 3.250% | ||||||||
3.359% VRN 4/30/26 | 148,132 | 146,465 | ||||||
Biotechnology — 0.0% | ||||||||
Aldevron, L.L.C., 2021 Term Loan B, 1 mo. USD LIBOR + 3.250% | ||||||||
4.250% VRN 10/12/26 | 113,912 | 113,722 | ||||||
Building Materials — 0.0% | ||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
4.250% VRN 11/23/27 | 120,000 | 119,119 | ||||||
Chemicals — 0.1% | ||||||||
Diamond (BC) B.V., USD Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
3.109% VRN 9/06/24 | 73,955 | 73,532 | ||||||
Illuminate Buyer, LLC, 2021 Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 6/30/27 | 84,788 | 84,328 | ||||||
INEOS Styrolution US Holding LLC, 2021 USD Term Loan B, 3 mo. USD LIBOR + 2.750% | ||||||||
3.250% VRN 1/29/26 | 115,000 | 114,569 | ||||||
Solenis Holdings LLC, 2018 1st Lien Term Loan, 3 mo. USD LIBOR + 4.000% | ||||||||
4.190% VRN 6/26/25 | 73,604 | 73,301 | ||||||
345,730 | ||||||||
Commercial Services — 0.2% | ||||||||
AlixPartners, LLP, 2021 USD Term Loan B, 1 mo. USD LIBOR + 2.750% | ||||||||
3.250% VRN 2/04/28 | 100,000 | 99,569 | ||||||
Allied Universal Holdco LLC, 2019 Term Loan B, 1 mo. USD LIBOR + 4.250% | ||||||||
4.359% VRN 7/10/26 | 128,375 | 127,926 | ||||||
Mister Car Wash Holdings, Inc., 2019 Term Loan B, 1 mo. USD LIBOR + 3.250% | ||||||||
3.358% VRN 5/14/26 | 64,508 | 63,701 | ||||||
Parexel International Corp., Term Loan B, 1 mo. USD LIBOR + 2.750% | ||||||||
2.859% VRN 9/27/24 | 230,738 | 227,891 | ||||||
Prime Security Services Borrower LLC, 2021 Term Loan, 1 mo. USD LIBOR + 2.750%, 3 mo. USD LIBOR + 2.750%, 12 mo. USD LIBOR + 2.750% | ||||||||
3.500% VRN 9/23/26 | 130,430 | 129,819 | ||||||
Team Health Holdings, Inc., 1st Lien Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
3.750% VRN 2/06/24 | 24,679 | 22,891 | ||||||
Verscend Holding Corp., 2018 Term Loan B, | ||||||||
0.000% 8/27/25 (a) | 70,000 | 69,921 | ||||||
741,718 | ||||||||
Computers — 0.2% | ||||||||
Flexential Intermediate Corp., 2017 1st Lien Term Loan, 3 mo. USD LIBOR + 3.500% | ||||||||
3.703% VRN 8/01/24 | 29,616 | 27,548 | ||||||
Peraton Holding Corp. | ||||||||
Term Loan B, | ||||||||
0.000% 2/01/28 (a) | 76,520 | 76,457 | ||||||
Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
4.500% VRN 2/01/28 | 43,480 | 43,443 | ||||||
Surf Holdings, LLC, USD Term Loan, 3 mo. USD LIBOR + 3.500% | ||||||||
3.676% VRN 3/05/27 | 129,025 | 127,661 | ||||||
Tempo Acquisition LLC, 2020 Extended Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 11/02/26 | 201,261 | 201,094 | ||||||
476,203 | ||||||||
Distribution & Wholesale — 0.0% | ||||||||
American Tire Distributors Holdings, Inc., 2015 Term Loan, 1 mo. USD LIBOR + 7.500% | ||||||||
8.500% VRN 9/02/24 | 29,549 | 28,822 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Diversified Financial Services — 0.1% | ||||||||
Blackhawk Network Holdings, Inc., 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
3.109% VRN 6/15/25 | $ | 114,841 | $ | 113,077 | ||||
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 1 mo. USD LIBOR + 3.750% | ||||||||
4.750% VRN 4/09/27 | 119,125 | 119,106 | ||||||
232,183 | ||||||||
Electric — 0.0% | ||||||||
Pacific Gas and Electric Co., 2020 Term Loan, 3 mo. USD LIBOR + 3.000% | ||||||||
3.500% VRN 6/23/25 | 74,438 | 74,275 | ||||||
Electrical Components & Equipment — 0.0% | ||||||||
Energizer Holdings, Inc., 2020 Term Loan, 1 mo. USD LIBOR + 2.250% | ||||||||
2.750% VRN 12/22/27 | 105,000 | 104,431 | ||||||
Electronics — 0.1% | ||||||||
Compass Power Generation LLC, 2018 Term Loan B, 1 mo. USD LIBOR + 3.500% | ||||||||
4.500% VRN 12/20/24 | 52,260 | 51,881 | ||||||
Tech Data Corp., ABL Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 6/30/25 | 104,475 | 104,680 | ||||||
156,561 | ||||||||
Engineering & Construction — 0.0% | ||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, 3 mo. USD LIBOR + 4.250% | ||||||||
5.250% VRN 6/21/24 | 64,268 | 63,200 | ||||||
Entertainment — 0.1% | ||||||||
Caesars Resort Collection LLC | ||||||||
2017 1st Lien Term Loan B, 1 mo. USD LIBOR + 2.750% | ||||||||
2.859% VRN 12/23/24 | 157,557 | 155,128 | ||||||
2020 Term Loan B1, 1 mo. USD LIBOR + 4.500% | ||||||||
4.609% VRN 7/21/25 | 59,700 | 59,775 | ||||||
UFC Holdings LLC, 2021 Term Loan B, 6 mo. USD LIBOR + 3.000% | ||||||||
3.750% VRN 4/29/26 | 196,739 | 195,816 | ||||||
410,719 | ||||||||
Environmental Controls — 0.1% | ||||||||
Filtration Group Corp., 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
3.115% VRN 3/29/25 | 200,311 | 197,257 | ||||||
Food — 0.0% | ||||||||
H Food Holdings LLC, 2018 Term Loan B, 1 mo. USD LIBOR + 3.688% | ||||||||
3.796% VRN 5/23/25 | 49,303 | 48,779 | ||||||
United Natural Foods, Inc., Term Loan B, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 10/22/25 | 16,878 | 16,855 | ||||||
65,634 | ||||||||
Health Care – Products — 0.1% | ||||||||
Avantor Funding, Inc., 2020 Incremental Term Loan B4, 1 mo. USD LIBOR + 2.250% | ||||||||
3.250% VRN 11/08/27 | 129,675 | 129,610 | ||||||
Sotera Health Holdings LLC, 2021 Term Loan, 3 mo. USD LIBOR + 2.750% | ||||||||
3.250% VRN 12/11/26 | 90,000 | 89,663 | ||||||
219,273 | ||||||||
Health Care – Services — 0.2% | ||||||||
Air Methods Corp., 2017 Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
4.500% VRN 4/22/24 | 54,295 | 52,483 | ||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 10/10/25 | 79,343 | 68,268 | ||||||
Gentiva Health Services, Inc., 2020 Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
2.875% VRN 7/02/25 | 173,064 | 171,838 | ||||||
Radiology Partners, Inc., 2018 1st Lien Term Loan B, 3 mo. USD LIBOR + 4.250% | ||||||||
5.295% - 5.295% VRN 7/09/25 | 120,000 | 118,950 | ||||||
RegionalCare Hospital Partners Holdings, Inc., 2018 Term Loan B, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 11/16/25 | 95,193 | 94,921 | ||||||
506,460 | ||||||||
Household Products & Wares — 0.0% | ||||||||
Kronos Acquisition Holdings, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
4.250% VRN 12/22/26 | 119,700 | 117,861 | ||||||
Insurance — 0.3% | ||||||||
Acrisure LLC, 2020 Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
3.703% VRN 2/13/27 | 123,120 | 121,479 | ||||||
AssuredPartners, Inc., 2020 Term Loan B, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 2/12/27 | 241,237 | 238,323 | ||||||
Asurion LLC | ||||||||
2018 Term Loan B6, 1 mo. USD LIBOR + 3.000% | ||||||||
3.109% VRN 11/03/23 | 70,273 | 70,039 | ||||||
2020 Term Loan B8, 1 mo. USD LIBOR + 3.250% | ||||||||
3.359% VRN 12/23/26 | 154,613 | 153,536 | ||||||
OneDigital Borrower LLC | ||||||||
2020 Delayed Draw Term Loan, | ||||||||
0.000% 11/16/27 (a) (b) | 15,273 | 15,261 | ||||||
2020 Term Loan, 3 mo. USD LIBOR + 4.500% | ||||||||
5.250% VRN 11/16/27 | 154,727 | 154,598 | ||||||
Sedgwick Claims Management Services, Inc., 2019 Term Loan B, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 9/03/26 | 34,388 | 34,161 | ||||||
787,397 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Internet — 0.2% | ||||||||
Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 12/06/27 | $ | 119,700 | $ | 118,742 | ||||
Endure Digital, Inc., Term Loan, 3 mo. USD LIBOR + 3.500% | ||||||||
4.250% VRN 2/10/28 | 140,000 | 138,355 | ||||||
Getty Images, Inc., 2019 USD Term Loan B, 1 mo. USD LIBOR + 4.500% | ||||||||
4.609% VRN 2/19/26 | 34,184 | 33,798 | ||||||
ION Trading Finance Limited, 2021 Term Loan, | ||||||||
0.000% 3/26/28 (a) | 230,000 | 229,713 | ||||||
ION Trading Technologies S.a.r.l., USD Incremental Term Loan B, 3 mo. USD LIBOR + 4.000% | ||||||||
5.000% VRN 11/21/24 | 19,690 | 19,676 | ||||||
Uber Technologies, Inc., 2021 1st Lien Term Loan B, 1 mo. USD LIBOR + 3.500% | ||||||||
3.609% VRN 4/04/25 | 194,500 | 193,446 | ||||||
733,730 | ||||||||
Leisure Time — 0.0% | ||||||||
ClubCorp Holdings, Inc., 2017 Term Loan B, 3 mo. USD LIBOR + 2.750% | ||||||||
2.953% VRN 9/18/24 | 59,488 | 55,788 | ||||||
Machinery – Diversified — 0.1% | ||||||||
Titan Acquisition Ltd., 2018 Term Loan B, 6 mo. USD LIBOR + 3.000% | ||||||||
3.267% VRN 3/28/25 | 39,491 | 38,635 | ||||||
Vertical Midco GmbH, USD Term Loan B, 6 mo. USD LIBOR + 4.250% | ||||||||
4.478% VRN 7/30/27 | 199,001 | 199,300 | ||||||
237,935 | ||||||||
Media — 0.1% | ||||||||
Cengage Learning, Inc., 2016 Term Loan B, 3 mo. USD LIBOR + 4.250% | ||||||||
5.250% VRN 6/07/23 | 73,914 | 73,037 | ||||||
The E.W. Scripps Co., 2019 Term Loan B2, 1 mo. USD LIBOR + 2.563% | ||||||||
3.313% VRN 5/01/26 | 115,982 | 115,224 | ||||||
Radiate Holdco, LLC, 2020 Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
4.250% VRN 9/25/26 | 134,663 | 134,525 | ||||||
322,786 | ||||||||
Packaging & Containers — 0.1% | ||||||||
Flex Acquisition Co., Inc., 2018 Incremental Term Loan, 3 mo. USD LIBOR + 3.000% | ||||||||
3.202% VRN 6/29/25 | 24,707 | 24,275 | ||||||
Graham Packaging Company, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
3.750% VRN 8/04/27 | 78,373 | 77,830 | ||||||
TricorBraun Holdings, Inc. | ||||||||
2021 Delayed Draw Term Loan, 3 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 2/03/28 (b) | 12,854 | 12,720 | ||||||
2021 Term Loan, 3 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 2/03/28 | 57,146 | 56,550 | ||||||
171,375 | ||||||||
Pharmaceuticals — 0.1% | ||||||||
Gainwell Acquisition Corp., Term Loan B, 3 mo. USD LIBOR + 4.000% | ||||||||
4.750% VRN 10/01/27 | 124,688 | 124,064 | ||||||
HC Group Holdings II, Inc., Term Loan B, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 8/06/26 | 153,832 | 153,159 | ||||||
277,223 | ||||||||
Pipelines — 0.0% | ||||||||
Blackstone CQP Holdco LP, Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
3.687% VRN 9/30/24 | 78,995 | 78,749 | ||||||
Retail — 0.2% | ||||||||
Foundation Building Materials Holding Co. LLC | ||||||||
2021 Delayed Draw Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 2/03/28 | 25,649 | 25,386 | ||||||
2021 Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
3.750% VRN 2/03/28 | 44,351 | 43,896 | ||||||
Great Outdoors Group LLC, 2021 Term Loan B, 6 mo. USD LIBOR + 4.250% | ||||||||
5.000% VRN 3/06/28 | 174,563 | 174,650 | ||||||
Harbor Freight Tools USA, Inc., 2020 Term Loan B, 1 mo. USD LIBOR + 3.000% | ||||||||
3.750% VRN 10/19/27 | 99,750 | 99,568 | ||||||
IRB Holding Corp, 2020 Term Loan B, 3 mo. USD LIBOR + 2.750%, 6 mo. USD LIBOR + 2.750% | ||||||||
2.953% VRN 2/05/25 | 152,530 | 151,161 | ||||||
Petco Animal Supplies, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.250% | ||||||||
4.000% VRN 2/24/28 | 125,000 | 124,434 | ||||||
PetSmart, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
4.500% VRN 2/12/28 | 70,000 | 69,839 | ||||||
688,934 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Software — 1.0% | ||||||||
Applied Systems, Inc., 2017 1st Lien Term Loan, 3 mo. USD LIBOR + 3.000% | ||||||||
3.500% VRN 9/19/24 | $ | 130,000 | $ | 129,415 | ||||
Ascend Learning LLC, 2017 Term Loan B, 1 mo. USD LIBOR + 3.000% | ||||||||
4.000% VRN 7/12/24 | 157,426 | 156,600 | ||||||
Camelot U.S. Acquisition 1 Co., 2020 Incremental Term Loan B, 1 mo. USD LIBOR + 3.000% | ||||||||
4.000% VRN 10/30/26 | 119,700 | 119,580 | ||||||
Castle US Holding Corp., USD Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
3.953% VRN 1/29/27 | 158,667 | 156,683 | ||||||
Cornerstone OnDemand, Inc., Term Loan B, 1 mo. USD LIBOR + 4.250% | ||||||||
4.361% VRN 4/22/27 | 76,338 | 76,350 | ||||||
Cvent, Inc., 1st Lien Term Loan, 2 mo. USD LIBOR + 3.750% | ||||||||
3.900% VRN 11/29/24 | 98,728 | 95,917 | ||||||
DCert Buyer, Inc., 2019 Term Loan B, 1 mo. USD LIBOR + 4.000% | ||||||||
4.109% VRN 10/16/26 | 74,811 | 74,614 | ||||||
The Dun & Bradstreet Corp., Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
3.359% VRN 2/06/26 | 173,403 | 172,319 | ||||||
Finastra USA, Inc. | ||||||||
USD 1st Lien Term Loan, 3 mo. USD LIBOR + 3.500% | ||||||||
4.500% VRN 6/13/24 | 63,671 | 62,336 | ||||||
USD 2nd Lien Term Loan, 6 mo. USD LIBOR + 7.250% | ||||||||
8.250% VRN 6/13/25 | 20,000 | 20,075 | ||||||
Greeneden U.S. Holdings II, LLC, 2020 USD Term Loan B4, 1 mo. USD LIBOR + 4.000% | ||||||||
4.750% VRN 12/01/27 | 248,399 | 248,212 | ||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
3.930% VRN 3/05/28 | 240,000 | 238,051 | ||||||
Hyland Software, Inc., 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
4.250% VRN 7/01/24 | 222,144 | 221,798 | ||||||
Mitchell International, Inc., 2017 1st Lien Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
3.359% VRN 11/29/24 | 148,092 | 145,583 | ||||||
Playtika Holding Corp, 2021 Term Loan, | ||||||||
0.000% 3/13/28 (a) | 150,000 | 149,063 | ||||||
Project Alpha Intermediate Holding, Inc., 2021 Term Loan B, 1 mo. USD LIBOR + 4.000% | ||||||||
4.110% VRN 4/26/24 | 187,787 | 187,083 | ||||||
Rackspace Hosting, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 2.750% | ||||||||
3.500% VRN 2/15/28 | 145,000 | 143,595 | ||||||
RealPage, Inc., Term Loan, | ||||||||
0.000% 2/17/28 (a) | 125,000 | 124,358 | ||||||
Sophia, L.P., 2020 1st Lien Term Loan, 3 mo. USD LIBOR + 3.750% | ||||||||
4.500% VRN 10/07/27 | 149,625 | 149,438 | ||||||
Tibco Software, Inc., 2020 Term Loan B3, 1 mo. USD LIBOR + 3.750% | ||||||||
3.860% VRN 6/30/26 | 128,988 | 127,174 | ||||||
The Ultimate Software Group, Inc. | ||||||||
Term Loan B, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 5/04/26 | 123,419 | 123,209 | ||||||
2021 Incremental Term Loan, 3 mo. USD LIBOR + 3.250% | ||||||||
4.000% VRN 5/04/26 | 104,476 | 104,476 | ||||||
VS Buyer, LLC, Term Loan B, 1 mo. USD LIBOR + 3.000% | ||||||||
3.109% VRN 2/28/27 | 148,550 | 147,869 | ||||||
3,173,798 | ||||||||
Telecommunications — 0.2% | ||||||||
Altice France S.A., 2018 Term Loan B13, 3 mo. USD LIBOR + 4.000% | ||||||||
4.198% VRN 8/14/26 | 153,707 | 153,169 | ||||||
Avaya, Inc. | ||||||||
2021 Term Loan B2, 1 mo. USD LIBOR + 4.000% | ||||||||
4.106% VRN 12/15/27 | 140,000 | 139,901 | ||||||
2020 Term Loan B, 1 mo. USD LIBOR + 4.250% | ||||||||
4.356% VRN 12/15/27 | 38,781 | 38,775 | ||||||
Delta TopCo, Inc., 2020 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
4.500% VRN 12/01/27 | 70,000 | 69,850 | ||||||
Intelsat Jackson Holdings S.A. | ||||||||
2020 DIP Term Loan, 3 mo. USD LIBOR + 3.600%, 3 mo. USD LIBOR + 5.500% | ||||||||
3.600% - 6.500% VRN 7/13/22 | 23,306 | 23,551 | ||||||
2017 Term Loan B3, 1 mo. USD LIBOR + 4.750% | ||||||||
8.000% VRN 11/27/23 | 155,000 | 157,325 | ||||||
Zayo Group Holdings, Inc., USD Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
3.109% VRN 3/09/27 | 59,882 | 59,356 | ||||||
641,927 | ||||||||
TOTAL BANK LOANS (Cost $11,887,878) | 11,896,572 | |||||||
Corporate Debt — 24.6% | ||||||||
Advertising — 0.1% | ||||||||
The Interpublic Group of Cos., Inc. | ||||||||
5.400% 10/01/48 | 250,000 | 307,110 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Aerospace & Defense — 0.4% | ||||||||
The Boeing Co. | ||||||||
2.950% 2/01/30 | $ | 235,000 | $ | 232,299 | ||||
Northrop Grumman Corp. | ||||||||
5.150% 5/01/40 | 250,000 | 312,918 | ||||||
Teledyne Technologies, Inc. | ||||||||
2.250% 4/01/28 | 205,000 | 203,857 | ||||||
TransDigm, Inc. | ||||||||
5.500% 11/15/27 | 100,000 | 103,375 | ||||||
6.250% 3/15/26 (c) | 150,000 | 158,985 | ||||||
6.375% 6/15/26 | 60,000 | 62,025 | ||||||
8.000% 12/15/25 (c) | 15,000 | 16,335 | ||||||
Triumph Group, Inc. | ||||||||
7.750% 8/15/25 | 55,000 | 55,275 | ||||||
1,145,069 | ||||||||
Agriculture — 0.3% | ||||||||
Altria Group, Inc. | ||||||||
4.800% 2/14/29 | 71,000 | 81,694 | ||||||
BAT Capital Corp. | ||||||||
3.462% 9/06/29 | 545,000 | 568,151 | ||||||
Imperial Brands Finance PLC | ||||||||
3.500% 7/26/26 (c) | 265,000 | 283,034 | ||||||
932,879 | ||||||||
Airlines — 0.1% | ||||||||
American Airlines, Inc. /AAdvantage Loyalty IP Ltd. | ||||||||
5.750% 4/20/29 (c) | 125,000 | 133,225 | ||||||
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. | ||||||||
6.500% 6/20/27 (c) | 100,000 | 109,500 | ||||||
Southwest Airlines Co. | �� | |||||||
4.750% 5/04/23 | 200,000 | 215,931 | ||||||
458,656 | ||||||||
Auto Manufacturers — 0.5% | ||||||||
Ford Motor Co. | ||||||||
9.000% 4/22/25 | 65,000 | 78,722 | ||||||
Ford Motor Credit Co. LLC 3 mo. USD LIBOR + 1.235% | ||||||||
1.429% FRN 2/15/23 | 210,000 | 207,912 | ||||||
General Motors Financial Co., Inc. 3 mo. USD LIBOR + .990% | ||||||||
1.228% FRN 1/05/23 | 575,000 | 579,919 | ||||||
Hyundai Capital America | ||||||||
1.800% 10/15/25 (c) | 5,000 | 4,993 | ||||||
2.650% 2/10/25 (c) | 410,000 | 423,384 | ||||||
Volkswagen Group of America Finance LLC | ||||||||
4.250% 11/13/23 (c) | 220,000 | 239,082 | ||||||
1,534,012 | ||||||||
Auto Parts & Equipment — 0.0% | ||||||||
Clarios Global LP/Clarios US Finance Co. | ||||||||
6.250% 5/15/26 (c) | 115,000 | 122,135 | ||||||
Banks — 3.8% | ||||||||
Banco BBVA Peru SA 5 year CMT + 2.750% | ||||||||
5.250% VRN 9/22/29 (c) | 100,000 | 107,750 | ||||||
Banco de Credito del Peru | ||||||||
5 year CMT + 3.000% 3.125% VRN 7/01/30 (c) | 200,000 | 200,000 | ||||||
3 mo. USD LIBOR + 7.043% 6.125% VRN 4/24/27 (c) | 150,000 | 157,126 | ||||||
Banco de Reservas de la Republica Dominicana | ||||||||
7.000% 2/01/23 (c) | 200,000 | 208,002 | ||||||
Banco do Estado do Rio Grande do Sul SA 5 year CMT + 4.928% | ||||||||
5.375% VRN 1/28/31 (c) | 200,000 | 196,200 | ||||||
Banco Internacional del Peru SAA Interbank 1 year CMT + 3.711% | ||||||||
4.000% VRN 7/08/30 (c) | 150,000 | 152,944 | ||||||
Banco Macro SA 5 year USD Swap + 5.463% | ||||||||
6.750% VRN 11/04/26 (c) | 200,000 | 160,002 | ||||||
Banco Mercantil del Norte SA | ||||||||
7.625% VRN (c) (d) | 200,000 | 218,802 | ||||||
Banco Santander SA 3 mo. USD LIBOR + 1.090% | ||||||||
1.265% FRN 2/23/23 | 400,000 | 404,609 | ||||||
Bangkok Bank PCL | ||||||||
5.000% VRN (c) (d) | 200,000 | 210,250 | ||||||
Bank of America Corp. 3 mo. USD LIBOR + 1.210% | ||||||||
3.974% VRN 2/07/30 | 350,000 | 386,686 | ||||||
Bank of Montreal 5 year USD Swap + 1.432% | ||||||||
3.803% VRN 12/15/32 | 225,000 | 247,012 | ||||||
Bank of New Zealand | ||||||||
3.500% 2/20/24 (c) | 280,000 | 301,265 | ||||||
The Bank of Nova Scotia | ||||||||
1.625% 5/01/23 | 142,000 | 145,578 | ||||||
3.400% 2/11/24 | 100,000 | 107,372 | ||||||
Barclays PLC 3 mo. USD LIBOR + 1.380% | ||||||||
1.574% FRN 5/16/24 | 425,000 | 431,072 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
BNP Paribas SA SOFR + 1.507% | ||||||||
3.052% VRN 1/13/31 (c) | $ | 390,000 | $ | 400,489 | ||||
BPCE SA | ||||||||
1.000% 1/20/26 (c) | 250,000 | 243,841 | ||||||
Citigroup, Inc. 3 mo. USD LIBOR + 1.100% | ||||||||
1.292% FRN 5/17/24 | 560,000 | 568,041 | ||||||
Commonwealth Bank of Australia | ||||||||
4.316% 1/10/48 (c) | 305,000 | 336,296 | ||||||
Credit Agricole SA | ||||||||
3.750% 4/24/23 (c) | 285,000 | 302,934 | ||||||
Credit Suisse Group AG SOFR + .980% | ||||||||
1.305% VRN 2/02/27 (c) | 500,000 | 484,119 | ||||||
DBS Group Holdings Ltd. 5 year USD Swap + 2.390% | ||||||||
3.600% VRN (c) (d) | 400,000 | 402,000 | ||||||
Gilex Holding Sarl | ||||||||
8.500% 5/02/23 (c) | 150,000 | 153,750 | ||||||
8.500% 5/02/23 (c) | 150,000 | 153,750 | ||||||
The Goldman Sachs Group, Inc. 3 mo. USD LIBOR + 1.170% | ||||||||
1.364% FRN 5/15/26 | 490,000 | 497,205 | ||||||
HSBC Holdings PLC 3 mo. USD LIBOR + 1.380% | ||||||||
1.564% FRN 9/12/26 | 510,000 | 525,793 | ||||||
JP Morgan Chase & Co. SOFR + 2.040% | ||||||||
2.522% VRN 4/22/31 | 275,000 | 273,252 | ||||||
Lloyds Banking Group PLC 3 mo. USD LIBOR + 1.205% | ||||||||
3.574% VRN 11/07/28 | 400,000 | 431,685 | ||||||
Macquarie Group Ltd. | ||||||||
3 mo. USD LIBOR + 1.023% 3.189% VRN 11/28/23 (c) | 60,000 | 62,452 | ||||||
3 mo. USD LIBOR + 1.330% 4.150% VRN 3/27/24 (c) | 280,000 | 298,383 | ||||||
Malayan Banking Bhd 5 year USD Swap + 2.542% | ||||||||
3.905% VRN 10/29/26 (c) | 300,000 | 303,966 | ||||||
Mitsubishi UFJ Financial Group, Inc. | ||||||||
1.412% 7/17/25 | 435,000 | 434,543 | ||||||
Morgan Stanley 3 mo. USD LIBOR + 1.340% | ||||||||
3.591% VRN 7/22/28 | 230,000 | 250,605 | ||||||
Multibank, Inc. | ||||||||
4.375% 11/09/22 (c) | 200,000 | 205,100 | ||||||
NongHyup Bank | ||||||||
1.250% 7/20/25 (c) | 200,000 | 198,798 | ||||||
Oversea-Chinese Banking Corp. Ltd. 5 year CMT + 1.580% | ||||||||
1.832% VRN 9/10/30 (c) | 300,000 | 297,393 | ||||||
Sumitomo Mitsui Financial Group, Inc. 3 mo. USD LIBOR + .740% | ||||||||
0.963% FRN 1/17/23 | 615,000 | 619,271 | ||||||
United Overseas Bank Ltd. | ||||||||
5 year USD Swap + 1.654% 2.880% VRN 3/08/27 (c) | 200,000 | 203,114 | ||||||
5 year USD Swap + 1.794% 3.875% VRN (c) (d) | 300,000 | 309,900 | ||||||
Wells Fargo & Co. | ||||||||
3 mo. USD LIBOR + 1.170% 2.879% VRN 10/30/30 | 115,000 | 118,383 | ||||||
3 mo. USD LIBOR + 1.170% 3.196% VRN 6/17/27 | 195,000 | 208,909 | ||||||
11,918,642 | ||||||||
Beverages — 0.3% | ||||||||
Anheuser-Busch InBev Worldwide, Inc. | ||||||||
4.600% 4/15/48 | 355,000 | 405,970 | ||||||
Constellation Brands, Inc. | ||||||||
2.875% 5/01/30 | 25,000 | 25,527 | ||||||
3.150% 8/01/29 | 200,000 | 209,352 | ||||||
Keurig Dr Pepper, Inc. | ||||||||
3.800% 5/01/50 | 190,000 | 201,320 | ||||||
Triton Water Holdings, Inc. | ||||||||
6.250% 4/01/29 (c) | 65,000 | 66,300 | ||||||
908,469 | ||||||||
Biotechnology — 0.1% | ||||||||
Illumina, Inc. | ||||||||
0.550% 3/23/23 | 145,000 | 144,873 | ||||||
Royalty Pharma PLC | ||||||||
3.300% 9/02/40 (c) | 200,000 | 192,326 | ||||||
337,199 | ||||||||
Building Materials — 0.2% | ||||||||
Builders FirstSource, Inc. | ||||||||
6.750% 6/01/27 (c) | 98,000 | 105,105 | ||||||
Carrier Global Corp. | ||||||||
3.377% 4/05/40 | 235,000 | 232,611 | ||||||
Griffon Corp. | ||||||||
5.750% 3/01/28 | 170,000 | 181,178 | ||||||
Owens Corning | ||||||||
4.400% 1/30/48 | 175,000 | 190,212 | ||||||
709,106 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Chemicals — 0.2% | ||||||||
DuPont de Nemours, Inc. | ||||||||
5.419% 11/15/48 | $ | 155,000 | $ | 199,257 | ||||
MEGlobal Canada ULC | ||||||||
5.000% 5/18/25 (c) | 200,000 | 222,250 | ||||||
Nutrien Ltd. | ||||||||
4.200% 4/01/29 | 265,000 | 298,038 | ||||||
719,545 | ||||||||
Coal — 0.0% | ||||||||
Peabody Energy Corp. | ||||||||
8.500% 12/31/24 (c) | 45,000 | 18,900 | ||||||
SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp. | ||||||||
7.500% 6/15/25 (c) | 120,000 | 124,650 | ||||||
143,550 | ||||||||
Commercial Services — 0.3% | ||||||||
Allied Universal Holdco LLC / Allied Universal Finance Corp. | ||||||||
6.625% 7/15/26 (c) | 70,000 | 74,234 | ||||||
9.750% 7/15/27 (c) | 130,000 | 142,636 | ||||||
Garda World Security Corp. | ||||||||
8.750% 5/15/25 (c) | 95,000 | 99,394 | ||||||
Jaguar Holding Co. II / Pharmaceutical Product Development LLC | ||||||||
5.000% 6/15/28 (c) | 50,000 | 52,075 | ||||||
MPH Acquisition Holdings LLC | ||||||||
5.750% 11/01/28 (c) | 120,000 | 117,672 | ||||||
NESCO Holdings II, Inc. | ||||||||
5.500% 4/15/29 (c) (e) | 20,000 | 20,510 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | ||||||||
3.375% 8/31/27 (c) | 110,000 | 106,700 | ||||||
PSA Treasury Pte Ltd. | ||||||||
2.125% 9/05/29 (c) | 200,000 | 197,821 | ||||||
Verscend Escrow Corp. | ||||||||
9.750% 8/15/26 (c) | 237,000 | 254,116 | ||||||
1,065,158 | ||||||||
Computers — 0.3% | ||||||||
Dell International LLC / EMC Corp. | ||||||||
5.300% 10/01/29 (c) | 375,000 | 438,394 | ||||||
Fortinet, Inc. | ||||||||
1.000% 3/15/26 | 215,000 | 210,108 | ||||||
NetApp, Inc. | ||||||||
1.875% 6/22/25 | 230,000 | 234,685 | ||||||
883,187 | ||||||||
Distribution & Wholesale — 0.0% | ||||||||
Performance Food Group, Inc. | ||||||||
5.500% 10/15/27 (c) | 115,000 | 120,262 | ||||||
Diversified Financial Services — 1.5% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
3.500% 1/15/25 | 180,000 | 188,701 | ||||||
Air Lease Corp. | ||||||||
3.750% 2/01/22 | 125,000 | 127,587 | ||||||
Aircastle Ltd. | ||||||||
2.850% 1/26/28 (c) | 215,000 | 204,639 | ||||||
Aviation Capital Group LLC | ||||||||
5.500% 12/15/24 (c) | 205,000 | 229,198 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
3.250% 2/15/27 (c) | 265,000 | 262,694 | ||||||
BOC Aviation Ltd. 3 mo. USD LIBOR + 1.125% | ||||||||
1.320% FRN 9/26/23 (c) | 340,000 | 339,173 | ||||||
Capital One Financial Corp. 3 mo. USD LIBOR + .720% | ||||||||
0.932% FRN 1/30/23 | 65,000 | 65,469 | ||||||
The Charles Schwab Corp. | ||||||||
0.750% 3/18/24 | 50,000 | 50,256 | ||||||
3.550% 2/01/24 | 340,000 | 367,335 | ||||||
Credito Real SAB de CV SOFOM ER 5 year CMT + 7.026% | ||||||||
9.125% VRN (c) (d) | 200,000 | 179,000 | ||||||
Discover Financial Services | ||||||||
4.100% 2/09/27 | 390,000 | 432,614 | ||||||
Global Aircraft Leasing Co. Ltd. | ||||||||
6.500% 9/15/24 (c) | 112,750 | 108,127 | ||||||
Interoceanica IV Finance Ltd. | ||||||||
0.000% 11/30/25 (c) | 624,586 | 592,632 | ||||||
Nationstar Mortgage Holdings, Inc. | ||||||||
5.500% 8/15/28 (c) | 75,000 | 75,304 | ||||||
Navient Corp. | ||||||||
5.000% 3/15/27 | 60,000 | 60,150 | ||||||
NFP Corp. | ||||||||
6.875% 8/15/28 (c) | 70,000 | 72,702 | ||||||
OneMain Finance Corp. | ||||||||
6.625% 1/15/28 | 120,000 | 135,997 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
PennyMac Financial Services, Inc. | ||||||||
4.250% 2/15/29 (c) | $ | 120,000 | $ | 114,750 | ||||
SPARC EM SPC Panama Metro Line 2 SP | ||||||||
0.000% 12/05/22 (c) | 100,819 | 98,300 | ||||||
Synchrony Financial | ||||||||
3.950% 12/01/27 | 320,000 | 344,597 | ||||||
Unifin Financiera SAB de CV 5 year CMT + 6.308% | ||||||||
8.875% VRN (c) (d) | 300,000 | 246,000 | ||||||
The Western Union Co. | ||||||||
2.750% 3/15/31 | 425,000 | 406,242 | ||||||
4,701,467 | ||||||||
Electric — 3.5% | ||||||||
AES Andres BV/Dominican Power Partners/Empresa Generadora de Electricidad It | ||||||||
7.950% 5/11/26 (c) | 300,000 | 311,253 | ||||||
AES Argentina Generacion SA | ||||||||
7.750% 2/02/24 (c) | 150,000 | 119,626 | ||||||
AES Gener SA 5 year USD Swap + 4.644% | ||||||||
7.125% VRN 3/26/79 (c) | 200,000 | 214,750 | ||||||
American Electric Power Co., Inc. | ||||||||
2.950% 12/15/22 | 313,000 | 323,466 | ||||||
Arizona Public Service Co. | ||||||||
3.350% 5/15/50 | 130,000 | 128,415 | ||||||
Calpine Corp. | ||||||||
4.625% 2/01/29 (c) | 40,000 | 38,972 | ||||||
5.125% 3/15/28 (c) | 100,000 | 100,465 | ||||||
Chile Electricity PEC SpA | ||||||||
0.000% 1/25/28 (c) | 200,000 | 162,800 | ||||||
DTE Energy Co. | ||||||||
3.800% 3/15/27 | 500,000 | 550,383 | ||||||
Duke Energy Corp. | ||||||||
3.950% 8/15/47 | 240,000 | 246,893 | ||||||
Duke Energy Progress, Inc. | ||||||||
4.150% 12/01/44 | 240,000 | 270,682 | ||||||
Empresa Electrica Angamos SA | ||||||||
4.875% 5/25/29 (c) | 147,800 | 147,800 | ||||||
Empresa Electrica Guacolda SA | ||||||||
4.560% 4/30/25 (c) | 400,000 | 335,961 | ||||||
Entergy Corp. | ||||||||
2.800% 6/15/30 | 110,000 | 110,687 | ||||||
Eversource Energy | ||||||||
1.650% 8/15/30 | 250,000 | 231,682 | ||||||
Fenix Power Peru SA | ||||||||
4.317% 9/20/27 (c) | 258,529 | 270,489 | ||||||
Georgia Power Co. | ||||||||
2.200% 9/15/24 | 385,000 | 401,625 | ||||||
3.250% 3/15/51 | 355,000 | 337,839 | ||||||
Korea East-West Power Co. Ltd. | ||||||||
1.750% 5/06/25 (c) | 200,000 | 203,850 | ||||||
1.750% 5/06/25 (c) | 200,000 | 203,850 | ||||||
LLPL Capital Pte Ltd. | ||||||||
6.875% 2/04/39 (c) | 273,600 | 318,881 | ||||||
Minejesa Capital BV | ||||||||
4.625% 8/10/30 (c) | 400,000 | 416,500 | ||||||
Monongahela Power Co. | ||||||||
5.400% 12/15/43 (c) | 145,000 | 178,136 | ||||||
NextEra Energy Capital Holdings, Inc. | ||||||||
2.250% 6/01/30 | 750,000 | 733,266 | ||||||
3.550% 5/01/27 | 195,000 | 213,071 | ||||||
NRG Energy, Inc. | ||||||||
2.000% 12/02/25 (c) | 145,000 | 144,992 | ||||||
3.625% 2/15/31 (c) | 145,000 | 141,375 | ||||||
Pacific Gas and Electric Co. | ||||||||
1.367% 3/10/23 | 240,000 | 240,068 | ||||||
2.500% 2/01/31 | 230,000 | 217,035 | ||||||
Pampa Energia SA | ||||||||
9.125% 4/15/29 (c) | 150,000 | 124,875 | ||||||
PG&E Corp. | ||||||||
5.000% 7/01/28 | 45,000 | 47,541 | ||||||
Pike Corp. | ||||||||
5.500% 9/01/28 (c) | 85,000 | 86,488 | ||||||
PSEG Power LLC | ||||||||
3.850% 6/01/23 | 260,000 | 277,078 | ||||||
Sierra Pacific Power Co. | ||||||||
2.600% 5/01/26 | 1,000,000 | 1,054,183 | ||||||
The Southern Co. | ||||||||
3.700% 4/30/30 | 500,000 | 539,890 | ||||||
Transelec SA | ||||||||
3.875% 1/12/29 (c) | 250,000 | 272,287 | ||||||
Xcel Energy, Inc. | ||||||||
3.300% 6/01/25 | 1,000,000 | 1,072,493 | ||||||
10,789,647 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Electrical Components & Equipment — 0.0% | ||||||||
Energizer Holdings, Inc. | ||||||||
4.750% 6/15/28 (c) | $ | 110,000 | $ | 113,438 | ||||
Electronics — 0.1% | ||||||||
Arrow Electronics, Inc. | ||||||||
3.875% 1/12/28 | 195,000 | 211,501 | ||||||
Vontier Corp. | ||||||||
2.400% 4/01/28 (c) | 115,000 | 112,986 | ||||||
324,487 | ||||||||
Energy – Alternate Sources — 0.2% | ||||||||
Empresa Electrica Cochrane SpA | ||||||||
5.500% 5/14/27 (c) | 361,120 | 377,339 | ||||||
UEP Penonome II SA | ||||||||
6.500% 10/01/38 (c) | 200,000 | 201,502 | ||||||
578,841 | ||||||||
Engineering & Construction — 0.2% | ||||||||
Sydney Airport Finance Co. Pty Ltd. | ||||||||
3.375% 4/30/25 (c) | 300,000 | 319,183 | ||||||
3.625% 4/28/26 (c) | 300,000 | 323,383 | ||||||
642,566 | ||||||||
Entertainment — 0.4% | ||||||||
Bally's Corp. | ||||||||
6.750% 6/01/27 (c) | 135,000 | 144,788 | ||||||
Caesars Entertainment, Inc. | ||||||||
6.250% 7/01/25 (c) | 105,000 | 111,699 | ||||||
Caesars Resort Collection LLC/CRC Finco, Inc. | ||||||||
5.250% 10/15/25 (c) | 130,000 | 131,126 | ||||||
Cedar Fair LP | ||||||||
5.250% 7/15/29 | 75,000 | 77,250 | ||||||
Lions Gate Capital Holdings LLC | ||||||||
5.500% 4/15/29 (c) (e) | 80,000 | 80,009 | ||||||
6.375% 2/01/24 (c) | 160,000 | 165,101 | ||||||
Live Nation Entertainment, Inc. | ||||||||
6.500% 5/15/27 (c) | 90,000 | 99,789 | ||||||
Scientific Games International, Inc. | ||||||||
7.250% 11/15/29 (c) | 75,000 | 81,375 | ||||||
Six Flags Theme Parks, Inc. | ||||||||
7.000% 7/01/25 (c) | 180,000 | 194,800 | ||||||
1,085,937 | ||||||||
Environmental Controls — 0.1% | ||||||||
GFL Environmental, Inc. | ||||||||
3.500% 9/01/28 (c) | 140,000 | 135,800 | ||||||
4.000% 8/01/28 (c) | 140,000 | 135,450 | ||||||
271,250 | ||||||||
Food — 0.5% | ||||||||
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertson's LLC | ||||||||
3.500% 3/15/29 (c) | 75,000 | 71,373 | ||||||
B&G Foods, Inc. | ||||||||
5.250% 9/15/27 | 50,000 | 52,031 | ||||||
Campbell Soup Co. | ||||||||
2.375% 4/24/30 | 115,000 | 112,396 | ||||||
Flowers Foods, Inc. | ||||||||
2.400% 3/15/31 | 100,000 | 97,471 | ||||||
Kraft Heinz Foods Co. | ||||||||
5.000% 7/15/35 | 40,000 | 46,025 | ||||||
5.200% 7/15/45 | 115,000 | 132,672 | ||||||
Mondelez International, Inc. | ||||||||
1.875% 10/15/32 | 135,000 | 125,678 | ||||||
Post Holdings, Inc. | ||||||||
4.625% 4/15/30 (c) | 110,000 | 110,209 | ||||||
Smithfield Foods, Inc. | ||||||||
4.250% 2/01/27 (c) | 365,000 | 402,036 | ||||||
Sysco Corp. | ||||||||
3.300% 2/15/50 | 330,000 | 307,265 | ||||||
United Natural Foods, Inc. | ||||||||
6.750% 10/15/28 (c) | 75,000 | 80,156 | ||||||
US Foods, Inc. | ||||||||
6.250% 4/15/25 (c) | 15,000 | 16,080 | ||||||
1,553,392 | ||||||||
Gas — 0.3% | ||||||||
The Brooklyn Union Gas Co. | ||||||||
4.487% 3/04/49 (c) | 255,000 | 290,046 | ||||||
The East Ohio Gas Co. | ||||||||
3.000% 6/15/50 (c) | 245,000 | 227,236 | ||||||
ENN Energy Holdings Ltd. | ||||||||
3.250% 7/24/22 (c) | 200,000 | 204,994 | ||||||
NiSource, Inc. | ||||||||
3.600% 5/01/30 | 110,000 | 119,144 | ||||||
841,420 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Health Care – Products — 0.0% | ||||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics SA | ||||||||
7.250% 2/01/28 (c) | $ | 84,000 | $ | 92,035 | ||||
Health Care – Services — 0.6% | ||||||||
Anthem, Inc. | ||||||||
2.375% 1/15/25 | 140,000 | 146,275 | ||||||
Centene Corp. | ||||||||
2.500% 3/01/31 | 310,000 | 295,275 | ||||||
3.000% 10/15/30 | 60,000 | 59,900 | ||||||
CHS/Community Health Systems, Inc. | ||||||||
6.000% 1/15/29 (c) | 95,000 | 100,463 | ||||||
6.875% 4/15/29 (c) | 70,000 | 73,168 | ||||||
HCA, Inc. | ||||||||
4.125% 6/15/29 | 175,000 | 193,814 | ||||||
Health Care Service Corp. | ||||||||
3.200% 6/01/50 (c) | 50,000 | 47,151 | ||||||
Legacy LifePoint Health LLC | ||||||||
4.375% 2/15/27 (c) | 90,000 | 88,200 | ||||||
6.750% 4/15/25 (c) | 55,000 | 58,438 | ||||||
Radiology Partners, Inc. | ||||||||
9.250% 2/01/28 (c) | 95,000 | 103,431 | ||||||
RP Escrow Issuer LLC | ||||||||
5.250% 12/15/25 (c) | 105,000 | 108,806 | ||||||
Select Medical Corp. | ||||||||
6.250% 8/15/26 (c) | 150,000 | 159,414 | ||||||
Tenet Healthcare Corp. | ||||||||
5.125% 11/01/27 (c) | 155,000 | 162,084 | ||||||
6.125% 10/01/28 (c) | 130,000 | 135,395 | ||||||
1,731,814 | ||||||||
Home Builders — 0.0% | ||||||||
Mattamy Group Corp. | ||||||||
4.625% 3/01/30 (c) | 120,000 | 119,194 | ||||||
Home Furnishing — 0.0% | ||||||||
Tempur Sealy International, Inc. | ||||||||
4.000% 4/15/29 (c) | 60,000 | 59,700 | ||||||
Household Products & Wares — 0.1% | ||||||||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. | ||||||||
5.000% 12/31/26 (c) | 100,000 | 100,000 | ||||||
7.000% 12/31/27 (c) | 65,000 | 62,294 | ||||||
Spectrum Brands, Inc. | ||||||||
3.875% 3/15/31 (c) | 105,000 | 102,638 | ||||||
264,932 | ||||||||
Insurance — 0.4% | �� | |||||||
Acrisure LLC / Acrisure Finance, Inc. | ||||||||
4.250% 2/15/29 (c) | 125,000 | 122,931 | ||||||
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer | ||||||||
6.750% 10/15/27 (c) | 80,000 | 85,853 | ||||||
Athene Global Funding | ||||||||
3.000% 7/01/22 (c) | 325,000 | 335,022 | ||||||
Berkshire Hathaway Finance Corp. | ||||||||
2.850% 10/15/50 | 140,000 | 128,602 | ||||||
GTCR AP Finance, Inc. | ||||||||
8.000% 5/15/27 (c) | 95,000 | 102,006 | ||||||
Prudential Financial, Inc. | ||||||||
3.905% 12/07/47 | 185,000 | 199,576 | ||||||
Willis North America, Inc. | ||||||||
4.500% 9/15/28 | 290,000 | 329,623 | ||||||
1,303,613 | ||||||||
Internet — 0.3% | ||||||||
Endure Digital, Inc. | ||||||||
6.000% 2/15/29 (c) | 95,000 | 92,744 | ||||||
Expedia Group, Inc. | ||||||||
2.950% 3/15/31 (c) | 85,000 | 83,755 | ||||||
3.800% 2/15/28 | 200,000 | 211,724 | ||||||
JD.com, Inc. | ||||||||
3.375% 1/14/30 | 400,000 | 411,983 | ||||||
Uber Technologies, Inc. | ||||||||
7.500% 9/15/27 (c) | 90,000 | 99,454 | ||||||
899,660 | ||||||||
Investment Companies — 0.2% | ||||||||
Ares Capital Corp. | ||||||||
2.150% 7/15/26 | 210,000 | 204,211 | ||||||
Temasek Financial I Ltd. Co. | ||||||||
1.000% 10/06/30 (c) | 350,000 | 320,628 | ||||||
524,839 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Iron & Steel — 0.2% | ||||||||
CSN Islands XII Corp. | ||||||||
7.000% (c) (d) | $ | 100,000 | $ | 100,250 | ||||
POSCO | ||||||||
2.375% 1/17/23 (c) | 200,000 | 205,378 | ||||||
2.750% 7/15/24 (c) | 200,000 | 211,008 | ||||||
516,636 | ||||||||
Leisure Time — 0.1% | ||||||||
Carnival Corp. | ||||||||
11.500% 4/01/23 (c) | 30,000 | 34,387 | ||||||
5.750% 3/01/27 (c) | 95,000 | 97,656 | ||||||
Viking Cruises Ltd. | ||||||||
13.000% 5/15/25 (c) | 30,000 | 35,269 | ||||||
5.875% 9/15/27 (c) | 160,000 | 156,400 | ||||||
323,712 | ||||||||
Lodging — 0.2% | ||||||||
Boyd Gaming Corp. | ||||||||
4.750% 12/01/27 | 150,000 | 152,884 | ||||||
Hilton Domestic Operating Co., Inc. | ||||||||
5.375% 5/01/25 (c) | 20,000 | 21,080 | ||||||
5.750% 5/01/28 (c) | 20,000 | 21,525 | ||||||
Marriott International, Inc. | ||||||||
3.125% 6/15/26 | 200,000 | 209,069 | ||||||
MGM Resorts International | ||||||||
6.750% 5/01/25 | 135,000 | 145,125 | ||||||
Wyndham Hotels & Resorts, Inc. | ||||||||
4.375% 8/15/28 (c) | 75,000 | 75,863 | ||||||
625,546 | ||||||||
Media — 0.4% | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
4.750% 3/01/30 (c) | 105,000 | 108,806 | ||||||
Cengage Learning, Inc. | ||||||||
9.500% 6/15/24 (c) | 85,000 | 86,594 | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
4.908% 7/23/25 | 325,000 | 368,602 | ||||||
Comcast Corp. | ||||||||
3.400% 4/01/30 | 195,000 | 210,977 | ||||||
Diamond Sports Group LLC/Diamond Sports Finance Co. | ||||||||
5.375% 8/15/26 (c) | 50,000 | 35,988 | ||||||
DISH DBS Corp. | ||||||||
5.875% 11/15/24 | 40,000 | 41,862 | ||||||
GCI LLC | ||||||||
4.750% 10/15/28 (c) | 90,000 | 92,137 | ||||||
iHeartCommunications, Inc. | ||||||||
8.375% 5/01/27 | 25,000 | 26,844 | ||||||
Nexstar Broadcasting, Inc. | ||||||||
5.625% 7/15/27 (c) | 65,000 | 68,330 | ||||||
Radiate Holdco LLC / Radiate Finance, Inc. | ||||||||
4.500% 9/15/26 (c) | 75,000 | 75,844 | ||||||
Scripps Escrow II, Inc. | ||||||||
3.875% 1/15/29 (c) | 40,000 | 39,300 | ||||||
Scripps Escrow, Inc. | ||||||||
5.875% 7/15/27 (c) | 80,000 | 82,392 | ||||||
1,237,676 | ||||||||
Mining — 0.4% | ||||||||
Anglo American Capital PLC | ||||||||
4.500% 3/15/28 (c) | 385,000 | 431,890 | ||||||
Arconic Corp. | ||||||||
6.125% 2/15/28 (c) | 130,000 | 138,866 | ||||||
Novelis Corp. | ||||||||
4.750% 1/30/30 (c) | 50,000 | 51,506 | ||||||
Vedanta Resources Co. | ||||||||
9.250% 4/23/26 (c) | 200,000 | 168,244 | ||||||
Vedanta Resources Ltd. | ||||||||
6.125% 8/09/24 (c) | 400,000 | 321,500 | ||||||
1,112,006 | ||||||||
Miscellaneous - Manufacturing — 0.2% | ||||||||
Bombardier, Inc. | ||||||||
6.000% 10/15/22 (c) | 90,000 | 90,000 | ||||||
General Electric Co. | ||||||||
5.875% 1/14/38 | 210,000 | 271,439 | ||||||
6.875% 1/10/39 | 110,000 | 154,279 | ||||||
515,718 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Oil & Gas — 1.5% | ||||||||
Apache Corp. | ||||||||
4.375% 10/15/28 | $ | 60,000 | $ | 59,820 | ||||
4.625% 11/15/25 | 40,000 | 41,212 | ||||||
BP Capital Markets America, Inc. | ||||||||
2.939% 6/04/51 | 140,000 | 124,563 | ||||||
Chesapeake Energy Corp. | ||||||||
5.875% 2/01/29 (c) | 100,000 | 106,000 | ||||||
CNX Resources Corp. | ||||||||
6.000% 1/15/29 (c) | 65,000 | 67,547 | ||||||
Cosan Overseas Ltd. | ||||||||
8.250% (c) (d) | 500,000 | 510,000 | ||||||
Delek & Avner Tamar Bond Ltd. | ||||||||
5.082% 12/30/23 (c) | 100,000 | 103,450 | ||||||
Diamondback Energy, Inc. | ||||||||
0.900% 3/24/23 | 125,000 | 124,982 | ||||||
2.875% 12/01/24 | 124,000 | 130,752 | ||||||
EQT Corp. | ||||||||
8.500% STEP 2/01/30 | 50,000 | 63,765 | ||||||
Exxon Mobil Corp. | ||||||||
2.610% 10/15/30 | 165,000 | 167,837 | ||||||
4.227% 3/19/40 | 190,000 | 214,111 | ||||||
Gran Tierra Energy International Holdings Ltd. | ||||||||
6.250% 2/15/25 (c) | 400,000 | 331,000 | ||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||
5.750% 2/01/29 (c) | 45,000 | 45,394 | ||||||
6.250% 11/01/28 (c) | 100,000 | 103,000 | ||||||
Indigo Natural Resources LLC | ||||||||
5.375% 2/01/29 (c) | 75,000 | 73,891 | ||||||
Marathon Petroleum Corp. | ||||||||
5.125% 12/15/26 | 310,000 | 361,582 | ||||||
Medco Bell Pte Ltd. | ||||||||
6.375% 1/30/27 (c) | 200,000 | 200,600 | ||||||
MEG Energy Corp. | ||||||||
5.875% 2/01/29 (c) | 15,000 | 15,038 | ||||||
7.125% 2/01/27 (c) | 105,000 | 109,987 | ||||||
Occidental Petroleum Corp. | ||||||||
3.500% 8/15/29 | 65,000 | 60,937 | ||||||
6.125% 1/01/31 | 85,000 | 93,857 | ||||||
6.625% 9/01/30 | 60,000 | 67,428 | ||||||
8.000% 7/15/25 | 50,000 | 57,396 | ||||||
Ovintiv Exploration, Inc. | ||||||||
5.625% 7/01/24 | 95,000 | 104,428 | ||||||
Ovintiv, Inc. | ||||||||
7.375% 11/01/31 | 55,000 | 69,877 | ||||||
Parkland Corp. | ||||||||
4.500% 10/01/29 (c) (e) | 90,000 | 90,310 | ||||||
Petronas Capital Ltd. | ||||||||
3.500% 4/21/30 (c) | 200,000 | 213,922 | ||||||
Pioneer Natural Resources Co. | ||||||||
1.900% 8/15/30 | 300,000 | 278,728 | ||||||
PTTEP Treasury Center Co. Ltd. | ||||||||
2.587% 6/10/27 (c) | 200,000 | 205,668 | ||||||
Sunoco LP / Sunoco Finance Corp. | ||||||||
4.500% 5/15/29 (c) | 35,000 | 34,869 | ||||||
5.500% 2/15/26 | 130,000 | 133,548 | ||||||
6.000% 4/15/27 | 90,000 | 94,500 | ||||||
Transocean Poseidon Ltd. | ||||||||
6.875% 2/01/27 (c) | 150,000 | 138,646 | ||||||
Transocean, Inc. | ||||||||
11.500% 1/30/27 (c) | 36,000 | 30,878 | ||||||
4,629,523 | ||||||||
Oil & Gas Services — 0.1% | ||||||||
Halliburton Co. | ||||||||
2.920% 3/01/30 | 125,000 | 124,802 | ||||||
5.000% 11/15/45 | 10,000 | 11,115 | ||||||
Schlumberger Investment SA | ||||||||
2.650% 6/26/30 | 85,000 | 85,372 | ||||||
USA Compression Partners LP/USA Compression Finance Corp. | ||||||||
6.875% 9/01/27 | 185,000 | 190,550 | ||||||
411,839 | ||||||||
Packaging & Containers — 0.3% | ||||||||
CCL Industries, Inc. | ||||||||
3.050% 6/01/30 (c) | 165,000 | 167,008 | ||||||
Packaging Corp. of America | ||||||||
3.400% 12/15/27 | 215,000 | 234,433 | ||||||
WRKCo, Inc. | ||||||||
3.750% 3/15/25 | 370,000 | 403,874 | ||||||
805,315 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Pharmaceuticals — 0.9% | ||||||||
AbbVie, Inc. | ||||||||
4.700% 5/14/45 | $ | 260,000 | $ | 308,445 | ||||
Bausch Health Cos., Inc. | ||||||||
6.250% 2/15/29 (c) | 170,000 | 180,413 | ||||||
Becton Dickinson and Co. | ||||||||
2.894% 6/06/22 | 520,000 | 533,465 | ||||||
Bristol-Myers Squibb Co. | ||||||||
4.350% 11/15/47 | 320,000 | 378,861 | ||||||
Cigna Corp. | ||||||||
3 mo. USD LIBOR + .890% 1.131% FRN 7/15/23 | 205,000 | 207,472 | ||||||
4.900% 12/15/48 | 230,000 | 280,924 | ||||||
CVS Health Corp. | ||||||||
5.050% 3/25/48 | 180,000 | 220,281 | ||||||
Endo Luxembourg Finance Co. I Sarl / Endo US, Inc. | ||||||||
6.125% 4/01/29 (c) | 60,000 | 60,613 | ||||||
Merck & Co., Inc. | ||||||||
3.400% 3/07/29 | 385,000 | 422,698 | ||||||
Viatris, Inc. | ||||||||
1.650% 6/22/25 (c) | 135,000 | 135,448 | ||||||
2,728,620 | ||||||||
Pipelines — 1.2% | ||||||||
Antero Midstream Partners LP / Antero Midstream Finance Corp. | ||||||||
5.750% 3/01/27 (c) | 54,000 | 54,012 | ||||||
Cheniere Energy Partners LP | ||||||||
5.625% 10/01/26 | 95,000 | 99,341 | ||||||
Enable Midstream Partners LP | ||||||||
4.400% 3/15/27 | 120,000 | 129,644 | ||||||
Energy Transfer Operating LP | ||||||||
4.750% 1/15/26 | 370,000 | 410,662 | ||||||
EQM Midstream Partners LP | ||||||||
4.750% 1/15/31 (c) | 140,000 | 135,800 | ||||||
Fermaca Enterprises S de RL de CV | ||||||||
6.375% 3/30/38 (c) | 208,394 | 233,401 | ||||||
GNL Quintero SA | ||||||||
4.634% 7/31/29 (c) | 250,000 | 274,562 | ||||||
Hess Midstream Operations LP | ||||||||
5.125% 6/15/28 (c) | 110,000 | 111,210 | ||||||
Kinder Morgan Energy Partners LP | ||||||||
6.950% 1/15/38 | 300,000 | 401,728 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp. | ||||||||
7.500% 2/01/26 (c) | 135,000 | 138,519 | ||||||
NuStar Logistics LP | ||||||||
6.375% 10/01/30 | 90,000 | 97,200 | ||||||
ONEOK, Inc. | ||||||||
3.400% 9/01/29 | 90,000 | 92,235 | ||||||
Peru LNG SRL | ||||||||
5.375% 3/22/30 (c) | 250,000 | 224,065 | ||||||
Rattler Midstream LP | ||||||||
5.625% 7/15/25 (c) | 55,000 | 57,427 | ||||||
Sabine Pass Liquefaction LLC | ||||||||
5.000% 3/15/27 | 170,000 | 193,412 | ||||||
Sunoco Logistics Partners Operations LP | ||||||||
3.900% 7/15/26 | 750,000 | 807,022 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
5.500% 3/01/30 | 100,000 | 105,000 | ||||||
Western Midstream Operating LP | ||||||||
4.350% STEP 2/01/25 | 75,000 | 77,625 | ||||||
3,642,865 | ||||||||
Real Estate — 0.0% | ||||||||
Realogy Group LLC / Realogy Co-Issuer Corp. | ||||||||
5.750% 1/15/29 (c) | 70,000 | 69,037 | ||||||
7.625% 6/15/25 (c) | 50,000 | 54,590 | ||||||
123,627 | ||||||||
Real Estate Investment Trusts (REITS) — 1.2% | ||||||||
Alexandria Real Estate Equities, Inc. | ||||||||
3.000% 5/18/51 | 130,000 | 117,960 | ||||||
American Tower Corp. | ||||||||
3.375% 10/15/26 | 472,000 | 509,773 | ||||||
3.600% 1/15/28 | 370,000 | 398,908 | ||||||
Boston Properties LP | ||||||||
3.400% 6/21/29 | 335,000 | 351,710 | ||||||
Corporate Office Properties LP | ||||||||
2.750% 4/15/31 | 50,000 | 48,311 | ||||||
Crown Castle International Corp. | ||||||||
3.650% 9/01/27 | 360,000 | 392,095 | ||||||
3.700% 6/15/26 | 700,000 | 764,739 | ||||||
4.000% 3/01/27 | 225,000 | 248,736 | ||||||
Equinix, Inc. | ||||||||
1.800% 7/15/27 | 130,000 | 127,467 | ||||||
Iron Mountain, Inc. | ||||||||
4.500% 2/15/31 (c) | 60,000 | 59,316 | ||||||
National Retail Properties, Inc. | ||||||||
2.500% 4/15/30 | 115,000 | 112,685 | ||||||
Omega Healthcare Investors, Inc. | ||||||||
3.250% 4/15/33 | 50,000 | 48,001 | ||||||
Simon Property Group LP | ||||||||
2.450% 9/13/29 | 190,000 | 187,963 | ||||||
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC | ||||||||
6.500% 2/15/29 (c) | 70,000 | 69,580 | ||||||
VICI Properties LP / VICI Note Co., Inc. | ||||||||
3.750% 2/15/27 (c) | 15,000 | 15,016 | ||||||
4.125% 8/15/30 (c) | 60,000 | 60,522 | ||||||
Welltower, Inc. | ||||||||
2.800% 6/01/31 | 210,000 | 208,562 | ||||||
3,721,344 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Retail — 0.6% | ||||||||
Asbury Automotive Group, Inc. | ||||||||
4.500% 3/01/28 | $ | 16,000 | $ | 16,367 | ||||
4.750% 3/01/30 | 16,000 | 16,480 | ||||||
Beacon Roofing Supply, Inc. | ||||||||
4.875% 11/01/25 (c) | 160,000 | 163,600 | ||||||
CK Hutchison International 20 Ltd. | ||||||||
2.500% 5/08/30 (c) | 200,000 | 198,498 | ||||||
Dollar Tree, Inc. | ||||||||
4.000% 5/15/25 | 325,000 | 358,707 | ||||||
Ferrellgas Escrow LLC / FG Operating Finance Escrow Corp. | ||||||||
5.375% 4/01/26 (c) | 55,000 | 54,631 | ||||||
Golden Nugget, Inc. | ||||||||
6.750% 10/15/24 (c) | 175,000 | 176,750 | ||||||
The Home Depot, Inc. | ||||||||
3.900% 6/15/47 | 170,000 | 190,505 | ||||||
IRB Holding Corp. | ||||||||
6.750% 2/15/26 (c) | 120,000 | 124,200 | ||||||
McDonald's Corp. | ||||||||
3.600% 7/01/30 | 205,000 | 223,451 | ||||||
4.450% 3/01/47 | 190,000 | 220,208 | ||||||
Staples, Inc. | ||||||||
7.500% 4/15/26 (c) | 115,000 | 121,325 | ||||||
Superior Plus LP / Superior General Partner, Inc. | ||||||||
4.500% 3/15/29 (c) | 120,000 | 121,224 | ||||||
1,985,946 | ||||||||
Semiconductors — 0.4% | ||||||||
Broadcom, Inc. | ||||||||
3.150% 11/15/25 | 69,000 | 73,513 | ||||||
3.419% 4/15/33 (c) | 226,000 | 227,198 | ||||||
Marvell Technology Group Ltd. | ||||||||
4.200% 6/22/23 | 385,000 | 411,928 | ||||||
Micron Technology, Inc. | ||||||||
2.497% 4/24/23 | 190,000 | 196,867 | ||||||
NXP BV / NXP Funding LLC / NXP USA, Inc. | ||||||||
3.875% 6/18/26 (c) | 190,000 | 208,696 | ||||||
Texas Instruments, Inc. | ||||||||
1.750% 5/04/30 | 105,000 | 100,118 | ||||||
1,218,320 | ||||||||
Software — 0.3% | ||||||||
Activision Blizzard, Inc. | ||||||||
1.350% 9/15/30 | 230,000 | 207,617 | ||||||
Oracle Corp. | ||||||||
3.850% 4/01/60 | 240,000 | 234,685 | ||||||
Roper Technologies, Inc. | ||||||||
1.750% 2/15/31 | 455,000 | 422,173 | ||||||
864,475 | ||||||||
Telecommunications — 0.9% | ||||||||
AT&T, Inc. | ||||||||
3.500% 9/15/53 (c) | 679,000 | 624,474 | ||||||
Avaya, Inc. | ||||||||
6.125% 9/15/28 (c) | 80,000 | 85,104 | ||||||
Bell Canada | ||||||||
0.750% 3/17/24 | 210,000 | 209,706 | ||||||
CenturyLink, Inc. | ||||||||
4.000% 2/15/27 (c) | 85,000 | 86,822 | ||||||
5.125% 12/15/26 (c) | 105,000 | 110,605 | ||||||
Digicel Group 0.5 Ltd. | ||||||||
7.000% (c) (d) | 78,040 | 56,946 | ||||||
8.000% 4/01/25 (c) | 52,337 | 43,178 | ||||||
Front Range BidCo, Inc. | ||||||||
4.000% 3/01/27 (c) | 90,000 | 88,560 | ||||||
6.125% 3/01/28 (c) | 50,000 | 51,422 | ||||||
Frontier Communications Corp. | ||||||||
5.000% 5/01/28 (c) | 60,000 | 61,050 | ||||||
5.875% 10/15/27 (c) | 30,000 | 31,800 | ||||||
6.750% 5/01/29 (c) | 30,000 | 31,641 | ||||||
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc. | ||||||||
9.875% 5/01/24 (c) | 75,000 | 78,937 | ||||||
GTT Communications, Inc. | ||||||||
7.875% 12/31/24 (c) | 50,000 | 8,250 | ||||||
T-Mobile USA, Inc. | ||||||||
2.250% 2/15/26 | 135,000 | 135,971 | ||||||
2.550% 2/15/31 (c) | 500,000 | 488,865 | ||||||
2.875% 2/15/31 | 30,000 | 28,995 | ||||||
3.375% 4/15/29 | 35,000 | 35,360 | ||||||
3.500% 4/15/25 (c) | 130,000 | 140,323 | ||||||
Telesat Canada/telesat L | ||||||||
6.500% 10/15/27 (c) | 40,000 | 40,069 | ||||||
Verizon Communications, Inc. | ||||||||
2.650% 11/20/40 | 25,000 | 22,794 | ||||||
4.400% 11/01/34 | 335,000 | 382,589 | ||||||
2,843,461 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Transportation — 0.5% | ||||||||
CSX Corp. | ||||||||
3.800% 11/01/46 | $ | 350,000 | $ | 371,970 | ||||
Empresa de Transporte de Pasajeros Metro SA | ||||||||
5.000% 1/25/47 (c) | 750,000 | 874,875 | ||||||
FedEx Corp. | ||||||||
4.750% 11/15/45 | 160,000 | 186,842 | ||||||
1,433,687 | ||||||||
Trucking & Leasing — 0.1% | ||||||||
Penske Truck Leasing Co. LP/PTL Finance Corp. | ||||||||
4.200% 4/01/27 (c) | 185,000 | 206,940 | ||||||
Water — 0.1% | ||||||||
Essential Utilities, Inc. | ||||||||
2.704% 4/15/30 | 220,000 | 221,516 | ||||||
TOTAL CORPORATE DEBT (Cost $74,114,912) | 76,371,983 | |||||||
Municipal Obligations — 0.1% | ||||||||
Missouri Highway & Transportation Commission, Revenue Bonds, | ||||||||
5.063% 5/01/24 | 135,000 | 153,216 | ||||||
State of California BAB, General Obligation | ||||||||
7.550% 4/01/39 | 190,000 | 306,936 | ||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $428,519) | 460,152 | |||||||
Non-U.S. Government Agency Obligations — 27.4% | ||||||||
Commercial Mortgage-Backed Securities — 8.2% | ||||||||
BANK | ||||||||
Series 2020-BN28, Class AS, 2.140% 3/15/63 | 380,000 | 366,189 | ||||||
Series 2018-BN10, Class C, 4.163% VRN 2/15/61 (f) | 310,000 | 323,693 | ||||||
Series 2017-BNK5, Class C, 4.255% VRN 6/15/60 (f) | 200,000 | 206,504 | ||||||
Benchmark Mortgage Trust | ||||||||
Series 2020-B19, Class AS, 2.148% 9/15/53 | 380,000 | 366,493 | ||||||
Series 2020-B18, Class C, 3.647% VRN 7/15/53 (f) | 354,000 | 363,895 | ||||||
Series 2020-B18, Class AGNF, 4.139% 7/15/53 (c) | 378,000 | 382,107 | ||||||
BFLD 2019-DPLO, Series 2019-DPLO, Class E, 1 mo. USD LIBOR + 2.240% | ||||||||
2.346% FRN 10/15/34 (c) | 300,000 | 297,002 | ||||||
BX Trust, Series 2019-OC11, Class E, | ||||||||
4.076% VRN 12/09/41 (c) (f) | 391,000 | 383,501 | ||||||
CFCRE Commercial Mortgage Trust, Series 2016-C3, Class XA, | ||||||||
0.991% VRN 1/10/48 (f) | 5,540,316 | 231,232 | ||||||
CHT Mortgage Trust | ||||||||
Series 2017-CSMO, Class E, 1 mo. USD LIBOR + 3.000% 3.106% FRN 11/15/36 (c) | 273,000 | 273,426 | ||||||
Series 2017-CSMO, Class F, 1 mo. USD LIBOR + 3.741% 3.847% FRN 11/15/36 (c) | 320,000 | 318,203 | ||||||
Citigroup Commercial Mortgage Trust | ||||||||
Series 2016-GC36, Class D, 2.850% 2/10/49 (c) | 201,000 | 144,238 | ||||||
Series 2019-GC41, Class B, 3.199% 8/10/56 | 377,000 | 386,254 | ||||||
Series 2020-420K, Class D, 3.312% VRN 11/10/42 (c) (f) | 200,000 | 190,433 | ||||||
Series 2020-420K, Class E, 3.312% VRN 11/10/42 (c) (f) | 200,000 | 181,392 | ||||||
Series 2015-GC31, Class C, 4.055% VRN 6/10/48 (f) | 700,000 | 726,455 | ||||||
Series 2017-C4, Class B, 4.096% VRN 10/12/50 (f) | 340,000 | 361,317 | ||||||
Commercial Mortgage Pass-Through Certificates | ||||||||
Series 2014-CR20, Class C, 4.514% VRN 11/10/47 (f) | 411,000 | 429,749 | ||||||
Series 2015-LC23, Class C, 4.617% VRN 10/10/48 (f) | 470,000 | 511,400 | ||||||
Series 2016-CR28, Class C, 4.641% VRN 2/10/49 (f) | 465,000 | 503,549 | ||||||
CSAIL Commercial Mortgage Trust | ||||||||
Series 2015-C1, Class XA, 0.827% VRN 4/15/50 (f) | 8,116,513 | 214,334 | ||||||
Series 2020-C19, Class C, 3.614% VRN 3/15/53 (f) | 332,000 | 333,229 | ||||||
Series 2019-C16, Class B, 3.885% 6/15/52 | 334,000 | 367,170 | ||||||
Series 2016-C6, Class B, 3.924% VRN 1/15/49 (f) | 298,000 | 322,491 | ||||||
Series 2015-C4, Class C, 4.563% VRN 11/15/48 (f) | 427,000 | 464,031 | ||||||
Series 2018-C14, Class C, 4.891% VRN 11/15/51 (f) | 405,000 | 436,171 | ||||||
Series 2016-C6, Class C, 4.953% VRN 1/15/49 (f) | 378,000 | 397,884 | ||||||
DBGS Mortgage Trust, Series 2018-5BP, Class F, 1 mo. USD LIBOR + 2.450% | ||||||||
2.556% FRN 6/15/33 (c) | 550,000 | 522,511 | ||||||
Fontainebleau Miami Beach Trust | ||||||||
Series 2019-FBLU, Class E, 3.963% VRN 12/10/36 (c) (f) | 200,000 | 204,368 | ||||||
Series 2019-FBLU, Class G, 3.963% VRN 12/10/36 (c) (f) | 236,000 | 234,318 | ||||||
Grace Trust, Series 2020-GRCE, Class D, | ||||||||
2.680% VRN 12/10/40 (c) (f) | 125,000 | 120,991 | ||||||
GS Mortgage Securities Trust | ||||||||
Series 2015-GS1, Class XA, 0.762% VRN 11/10/48 (f) | 7,824,374 | 249,812 | ||||||
Series 2018-RIVR, Class C, 1 mo. USD LIBOR + 1.250% 1.356% FRN 7/15/35 (c) | 167,000 | 162,514 | ||||||
Series 2013-GC10, Class XA, 1.487% VRN 2/10/46 (f) | 4,348,698 | 98,409 | ||||||
Series 2019-SOHO, Class E, 1 mo. USD LIBOR + 1.875% 1.981% FRN 6/15/36 (c) | 318,000 | 304,827 | ||||||
Series 2014-GC26, Class D, 4.514% VRN 11/10/47 (c) (f) | 1,117,000 | 760,888 | ||||||
Series 2016-GS2, Class C, 4.709% VRN 5/10/49 (f) | 340,000 | 360,220 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
GSCG Trust, Series 2019-600C, Class E, | ||||||||
3.985% VRN 9/06/34 (c) (f) | $ | 497,000 | $ | 486,977 | ||||
HPLY Trust, Series 2019-HIT, Class F, 1 mo. USD LIBOR + 3.150% | ||||||||
3.256% FRN 11/15/36 (c) | 409,208 | 391,825 | ||||||
JP Morgan Chase Commercial Mortgage Securities Trust | ||||||||
Series 2015-JP1, Class XA, 0.922% VRN 1/15/49 (f) | 4,007,249 | 151,125 | ||||||
Series 2016-JP2, Class B, 3.460% 8/15/49 | 174,000 | 181,313 | ||||||
JPMBB Commercial Mortgage Securities Trust | ||||||||
Series 2015-C30, Class XA, 0.506% VRN 7/15/48 (f) | 9,295,056 | 178,547 | ||||||
Series 2015-C29, Class XA, 0.653% VRN 5/15/48 (f) | 7,720,486 | 181,871 | ||||||
Series 2014-C25, Class XA, 0.844% VRN 11/15/47 (f) | 4,032,913 | 106,073 | ||||||
Series 2015-C28, Class XA, 0.969% VRN 10/15/48 (f) | 6,668,518 | 203,493 | ||||||
Series 2015-C27, Class D, 3.854% VRN 2/15/48 (c) (f) | 704,000 | 637,134 | ||||||
Series 2015-C28, Class B, 3.986% 10/15/48 | 340,000 | 365,227 | ||||||
Series 2015-C29, Class C, 4.198% VRN 5/15/48 (f) | 162,000 | 162,522 | ||||||
Series 2015-C33, Class C, 4.612% VRN 12/15/48 (f) | 527,000 | 565,024 | ||||||
Series 2015-C32, Class C, 4.652% VRN 11/15/48 (f) | 87,000 | 71,266 | ||||||
JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class C, | ||||||||
3.726% VRN 5/13/53 (f) | 327,000 | 336,162 | ||||||
MF1 Ltd., Series 2020-FL3, Class AS, 1 mo. USD LIBOR + 2.850% | ||||||||
2.956% FRN 7/15/35 (c) | 318,000 | 323,135 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust | ||||||||
Series 2015-C27, Class D, 3.237% VRN 12/15/47 (c) (f) | 504,000 | 459,518 | ||||||
Series 2015-C23, Class C, 4.145% VRN 7/15/50 (f) | 650,000 | 675,608 | ||||||
Series 2015-C27, Class C, 4.516% VRN 12/15/47 (f) | 351,000 | 359,459 | ||||||
Morgan Stanley Capital I Trust, Series 2015-UBS8, Class XA, | ||||||||
0.874% VRN 12/15/48 (f) | 6,192,570 | 211,164 | ||||||
MSCG Trust, Series 2018-SELF, Class F, 1 mo. USD LIBOR + 3.050% | ||||||||
3.156% FRN 10/15/37 (c) | 413,000 | 412,744 | ||||||
Natixis Commercial Mortgage Securities Trust, Series 2018-FL1, Class C, 1 mo. USD LIBOR + 2.200% | ||||||||
2.306% FRN 6/15/35 (c) | 368,000 | 338,287 | ||||||
SG Commercial Mortgage Securities Trust | ||||||||
Series 2016-C5, Class XA, 1.952% VRN 10/10/48 (f) | 3,793,616 | 255,069 | ||||||
Series 2016-C5, Class B, 3.933% 10/10/48 | 411,000 | 429,108 | ||||||
UBS Commercial Mortgage Trust | ||||||||
Series 2017-C2, Class B, 3.993% VRN 8/15/50 (f) | 332,000 | 351,851 | ||||||
Series 2017-C1, Class B, 4.036% 6/15/50 | 328,000 | 347,799 | ||||||
Series 2017-C6, Class B, 4.154% VRN 12/15/50 (f) | 340,000 | 376,303 | ||||||
Wells Fargo Commercial Mortgage Trust | ||||||||
Series 2015-NXS2, Class XA, 0.663% VRN 7/15/58 (f) | 10,116,752 | 234,884 | ||||||
Series 2015-P2, Class XA, 0.926% VRN 12/15/48 (f) | 4,379,017 | 165,364 | ||||||
Series 2019-C53, Class XA, 1.020% VRN 10/15/52 (f) | 4,342,343 | 305,174 | ||||||
Series 2020-C57, Class XA, 2.100% VRN 8/15/53 (f) | 2,229,839 | 342,821 | ||||||
Series 2016-C35, Class B, 3.438% 7/15/48 | 328,000 | 346,179 | ||||||
Series 2016-NXS6, Class B, 3.811% 11/15/49 | 248,000 | 267,329 | ||||||
Series 2014-LC16, Class D, 3.938% 8/15/50 (c) | 169,000 | 38,997 | ||||||
Series 2015-C28, Class C, 4.094% VRN 5/15/48 (f) | 248,000 | 254,266 | ||||||
Series 2019-C50, Class B, 4.192% 5/15/52 | 409,000 | 458,401 | ||||||
Series 2019-C50, Class C, 4.345% 5/15/52 | 409,000 | 424,109 | ||||||
Series 2016-LC24, Class C, 4.458% VRN 10/15/49 (f) | 325,000 | 336,638 | ||||||
Series 2016-C37, Class C, 4.485% VRN 12/15/49 (f) | 376,000 | 403,627 | ||||||
Series 2015-NXS4, Class C, 4.699% VRN 12/15/48 (f) | 421,000 | 447,547 | ||||||
Series 2019-C49, Class C, 4.866% VRN 3/15/52 (f) | 248,000 | 271,937 | ||||||
25,357,077 | ||||||||
Home Equity Asset-Backed Securities — 1.6% | ||||||||
GSAA Home Equity Trust, Series 2007-10, Class A2A | ||||||||
6.500% 11/25/37 | 3,703,131 | 2,399,522 | ||||||
Morgan Stanley ABS Capital I, Inc. Trust, Series 2006-HE6, Class A2C, 1 mo. USD LIBOR + .150% | ||||||||
0.259% FRN 9/25/36 | 5,664,419 | 2,497,700 | ||||||
4,897,222 | ||||||||
Other Asset-Backed Securities — 10.2% | ||||||||
AASET US Ltd., Series 2018-1A, Class A | ||||||||
3.844% 1/16/38 (c) | 513,749 | 491,099 | ||||||
Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class B, | ||||||||
5.682% STEP 12/16/41 (c) | 752,144 | 743,151 | ||||||
BlueMountain CLO Ltd. | ||||||||
Series 2015-3A, Class CR, 3 mo. USD LIBOR + 2.600% 2.824% FRN 4/20/31 (c) | 1,000,000 | 934,389 | ||||||
Series 2013-1A, Class CR, 3 mo. USD LIBOR + 4.150% 4.374% FRN 1/20/29 (c) | 1,000,000 | 985,592 | ||||||
Catamaran CLO 2016-1 Ltd., Series 2016-1A, Class CR, 3 mo. USD LIBOR + 3.750% | ||||||||
3.940% FRN 1/18/29 (c) | 500,000 | 492,686 | ||||||
CLI Funding VI LLC | ||||||||
Series 2020-3A, Class A, 2.070% 10/18/45 (c) | 236,042 | 236,034 | ||||||
Series 2019-1A, Class A, 3.710% 5/18/44 (c) | 408,344 | 409,230 | ||||||
Dividend Solar Loans LLC, Series 2018-1, Class B | ||||||||
4.290% 7/20/38 (c) | 691,956 | 741,189 | ||||||
Dryden 40 Senior Loan Fund, Series 2015-40A, Class DR, 3 mo. USD LIBOR + 3.100% | ||||||||
3.294% FRN 8/15/31 (c) | 500,000 | 500,279 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Gilbert Park CLO Ltd. | ||||||||
Series 2017-1A, Class D, 3 mo. USD LIBOR + 2.950% 3.191% FRN 10/15/30 (c) | $ | 500,000 | $ | 498,588 | ||||
Series 2017-1A, Class E, 3 mo. USD LIBOR + 6.400% 6.641% FRN 10/15/30 (c) | 1,000,000 | 991,553 | ||||||
Grippen Park CLO Ltd., Series 2017-1A, Class D, 3 mo. USD LIBOR + 3.300% | ||||||||
3.524% FRN 1/20/30 (c) | 1,000,000 | 1,000,193 | ||||||
Helios Issuer LLC | ||||||||
Series 2020-AA, Class A, 2.980% 6/20/47 (c) | 447,296 | 451,593 | ||||||
Series 2017-1A, Class A, 4.940% 9/20/49 (c) | 207,636 | 220,217 | ||||||
Hero Funding Trust, Series 2016-4A, Class A2 | ||||||||
4.290% 9/20/47 (c) | 180,308 | 187,768 | ||||||
Highbridge Loan Management Ltd., Series 13A-18, Class D, 3 mo. USD LIBOR + 3.000% | ||||||||
3.241% FRN 10/15/30 (c) | 500,000 | 485,380 | ||||||
Invitation Homes Trust | ||||||||
Series 2018-SFR1, Class C, 1 mo. USD LIBOR + 1.250% 1.358% FRN 3/17/37 (c) | 1,145,000 | 1,147,487 | ||||||
Series 2018-SFR1, Class D, 1 mo. USD LIBOR + 1.450% 1.558% FRN 3/17/37 (c) | 749,727 | 750,887 | ||||||
ITE Rail Fund Levered LP, Series 2021-1A, Class A | ||||||||
2.250% 2/28/51 (c) | 995,683 | 991,858 | ||||||
JOL Air Ltd., Series 2019-1, Class A | ||||||||
3.967% 4/15/44 (c) | 434,262 | 436,889 | ||||||
Long Beach Mortgage Loan Trust, Series 2006-7, Class 1A, 1 mo. USD LIBOR + .155% | ||||||||
0.264% FRN 8/25/36 | 3,090,927 | 1,930,510 | ||||||
MACH 1 Cayman Ltd., Series 2019-1, Class A | ||||||||
3.474% 10/15/39 (c) | 418,398 | 420,885 | ||||||
Madison Park Funding Ltd., Series 2014-14A, Class DRR, 3 mo. USD LIBOR + 2.950% | ||||||||
3.172% FRN 10/22/30 (c) | 500,000 | 496,846 | ||||||
Merrill Lynch Mortgage Investors Trust, Series 2006-OPT1, Class A2C, 1 mo. USD LIBOR + .150% | ||||||||
0.259% FRN 8/25/37 | 1,751,583 | 1,697,015 | ||||||
Mosaic Solar Loans Trust | ||||||||
Series 2020-1A, Class A, 2.100% 4/20/46 (c) | 414,864 | 413,175 | ||||||
Series 2020-2A, Class B, 2.210% 8/20/46 (c) | 462,271 | 459,845 | ||||||
Series 2017-1A, Class A, 4.450% 6/20/42 (c) | 346,051 | 377,147 | ||||||
Oak Hill Credit Partners Ltd., Series 2018-1A, Class D, 3 mo. USD LIBOR + 3.050% | ||||||||
3.274% FRN 10/20/30 (c) | 500,000 | 498,423 | ||||||
Octagon Investment Partners 30 Ltd., Series 2017-1A, Class CR, 3 mo. USD LIBOR + 3.300% | ||||||||
3.524% FRN 3/17/30 (c) | 1,000,000 | 1,000,003 | ||||||
Primose Funding LLC, Series 2019-1A, Class A2 | ||||||||
4.475% 7/30/49 (c) | 987,500 | 1,006,282 | ||||||
Sprite Ltd., Series 2017-1, Class A | ||||||||
4.250% 12/15/37 (c) | 321,051 | 324,393 | ||||||
START Ireland, Series 2019-1, Class A | ||||||||
4.089% 3/15/44 (c) | 308,478 | 309,674 | ||||||
Sunrun Atlas Issuer LLC, Series 2019-2, Class A | ||||||||
3.610% 2/01/55 (c) | 726,297 | 766,263 | ||||||
Symphony CLO Ltd., Series 2015-16A, Class DR, 3 mo. USD LIBOR + 3.050% | ||||||||
3.291% FRN 10/15/31 (c) | 500,000 | 500,031 | ||||||
Taco Bell Funding LLC, Series 2018-1A, Class A2I | ||||||||
4.318% 11/25/48 (c) | 977,500 | 982,394 | ||||||
Textainer Marine Containers Ltd. | ||||||||
Series 2020-2A, Class A, 2.100% 9/20/45 (c) | 476,606 | 477,636 | ||||||
Series 2019-1A, Class A, 3.960% 4/20/44 (c) | 423,333 | 422,745 | ||||||
Thunderbolt Aircraft Lease Ltd. | ||||||||
Series 2018-A, Class A, 4.147% STEP 9/15/38 (c) | 442,900 | 443,729 | ||||||
Series 2017-A, Class A, 4.212% STEP 5/17/32 (c) | 855,185 | 867,649 | ||||||
TIF Funding II LLC, Series 2021-1A, Class A | ||||||||
1.650% 2/20/46 (c) | 987,083 | 969,571 | ||||||
TPG Real Estate Finance Issuer Ltd., Series 2018-FL2, Class AS, 1 mo. USD LIBOR + 1.450% | ||||||||
1.558% FRN 11/15/37 (c) | 314,000 | 313,998 | ||||||
Trip Rail Master Funding LLC, Series 2017-1A, Class A1 | ||||||||
2.709% 8/15/47 (c) | 59,189 | 59,227 | ||||||
Vantage Data Centers LLC, Series 2020-2A, Class A2 | ||||||||
1.992% 9/15/45 (c) | 375,000 | 368,313 | ||||||
VB-S1 Issuer LLC, Series 2020-1A, Class C2 | ||||||||
3.031% 6/15/50 (c) | 500,000 | 517,887 | ||||||
Westcott Park CLO Ltd., Series 2016-1A, Class DR, 3 mo. USD LIBOR + 3.250% | ||||||||
3.474% FRN 7/20/28 (c) | 500,000 | 499,827 | ||||||
Willis Engine Structured Trust IV, Series 2018-A, Class A, | ||||||||
4.750% STEP 9/15/43 (c) | 757,554 | 753,297 | ||||||
Wind River CLO Ltd. | ||||||||
Series 2017-1A, Class D, 3 mo. USD LIBOR + 3.750% 3.973% FRN 4/18/29 (c) | 1,000,000 | 999,041 | ||||||
Series 2017-1A, Class DR, 3 mo. USD LIBOR + 3.720% 4.000% FRN 4/18/36 (c) (e) | 1,000,000 | 989,895 | ||||||
31,561,763 | ||||||||
Student Loans Asset-Backed Securities — 0.4% | ||||||||
College Avenue Student Loans LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + 1.200% | ||||||||
1.309% FRN 12/26/47 (c) | 325,239 | 327,183 | ||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2017-D, Class BFX, 3.610% 9/25/40 (c) | 350,000 | 353,693 | ||||||
Series 2018-B, Class BFX, 3.830% 8/25/47 (c) | 500,000 | 511,945 | ||||||
1,192,821 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 6.6% | ||||||||
CIM Trust, Series 2017-6, Class A1, | ||||||||
3.015% VRN 6/25/57 (c) (f) | $ | 1,543,518 | $ | 1,527,074 | ||||
Citigroup Mortgage Loan Trust, Series 2007-AR5, Class 1A2A, | ||||||||
3.107% VRN 4/25/37 (f) | 1,060,547 | 1,001,921 | ||||||
Countrywide Alternative Loan Trust | ||||||||
Series 2006-13T1, Class A11, 6.000% 5/25/36 | 1,869,097 | 1,249,185 | ||||||
Series 2006-36T2, Class 2A1, 6.250% 12/25/36 | 3,328,450 | 2,052,899 | ||||||
Countrywide Home Loans Mortgage Pass-Through Trust | ||||||||
Series 2007-HYB2, Class 3A1, 2.837% VRN 2/25/47 (f) | 1,107,848 | 1,028,661 | ||||||
Series 2007-3, Class A21, 6.000% 4/25/37 | 1,703,607 | 1,271,532 | ||||||
Series 2007-14, Class A6, 6.000% 9/25/37 | 1,373,189 | 1,039,558 | ||||||
HarborView Mortgage Loan Trust, Series 2006-11, Class A1A, 1 mo. USD LIBOR + .340% | ||||||||
0.450% FRN 12/19/36 | 891,146 | 808,877 | ||||||
IndyMac INDX Mortgage Loan Trust, Series 2007-AR5, Class 2A1, | ||||||||
3.222% VRN 5/25/37 (f) | 2,277,263 | 1,999,072 | ||||||
Lehman XS Trust, Series 2007-12N, Class 1A3A, 1 mo. USD LIBOR + .200% | ||||||||
0.309% FRN 7/25/47 | 2,532,548 | 2,500,243 | ||||||
Morgan Stanley Mortgage Loan Trust, Series 2005-3AR, Class 2A1, | ||||||||
3.014% VRN 7/25/35 (f) | 367,622 | 350,750 | ||||||
Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AR1, Class 2A1, | ||||||||
3.078% VRN 2/25/36 (f) | 2,047,701 | 1,763,849 | ||||||
RBSSP Resecuritization Trust, Series 2009-5, Class 2A3, | ||||||||
6.500% VRN 10/26/37 (c) (f) | 864,323 | 595,415 | ||||||
RFMSI Trust, Series 2007-S4, Class A5, 1 mo. USD LIBOR + .600% | ||||||||
6.000% FRN 4/25/37 | 228,644 | 214,564 | ||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2008-1, Class A2, | ||||||||
2.727% VRN 10/25/37 (f) | 784,317 | 689,523 | ||||||
Voyager OPTONE Delaware Trust, Series 2009-1, Class SAC3, | ||||||||
3.285% VRN 2/25/38 (c) (f) | 2,109,186 | 1,519,984 | ||||||
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-4, Class 3A5, | ||||||||
6.350% STEP 5/25/36 | 911,434 | 840,011 | ||||||
20,453,118 | ||||||||
Whole Loan Collateral Planned Amortization Classes — 0.4% | ||||||||
Countrywide Alternative Loan Trust, Series 2006-19CB, Class A15 | ||||||||
6.000% 8/25/36 | 1,650,952 | 1,348,107 | ||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $88,678,864) | 84,810,108 | |||||||
Sovereign Debt Obligations — 2.4% | ||||||||
Abu Dhabi Government International Bond | ||||||||
3.125% 4/16/30 (c) | 200,000 | 214,315 | ||||||
3.125% 9/30/49 (c) | 400,000 | 380,952 | ||||||
Brazilian Government International Bond | ||||||||
5.625% 2/21/47 | 300,000 | 304,428 | ||||||
Chile Government International Bond | ||||||||
3.100% 1/22/61 | 700,000 | 648,067 | ||||||
Colombia Government International Bond | ||||||||
4.125% 5/15/51 | 250,000 | 237,500 | ||||||
5.000% 6/15/45 | 200,000 | 212,630 | ||||||
Dominican Republic International Bond | ||||||||
5.875% 1/30/60 (c) | 300,000 | 286,950 | ||||||
Indonesia Government International Bond | ||||||||
3.375% 4/15/23 (c) | 200,000 | 209,832 | ||||||
3.700% 10/30/49 | 250,000 | 253,891 | ||||||
Korea Electric Power Corp. | ||||||||
1.125% 6/15/25 (c) | 200,000 | 198,499 | ||||||
Mexico Government International Bond | ||||||||
3.750% 1/11/28 | 535,000 | 571,728 | ||||||
3.771% 5/24/61 | 500,000 | 440,040 | ||||||
Panama Government International Bond | ||||||||
3.870% 7/23/60 | 200,000 | 197,232 | ||||||
4.300% 4/29/53 | 200,000 | 213,937 | ||||||
Perusahaan Penerbit SBSN Indonesia | ||||||||
3.800% 6/23/50 (c) | 200,000 | 202,270 | ||||||
4.150% 3/29/27 (c) | 200,000 | 220,530 | ||||||
Peruvian Government International Bond | ||||||||
2.780% 12/01/60 | 150,000 | 123,562 | ||||||
2.783% 1/23/31 | 200,000 | 199,802 | ||||||
3.300% 3/11/41 | 100,000 | 96,968 | ||||||
3.550% 3/10/51 | 300,000 | 291,336 | ||||||
Philippine Government International Bond | ||||||||
1.648% 6/10/31 | 400,000 | 377,784 | ||||||
3.700% 3/01/41 | 450,000 | 469,742 | ||||||
Qatar Government International Bond | ||||||||
3.375% 3/14/24 (c) | 200,000 | 214,493 | ||||||
Saudi Government International Bond | ||||||||
2.900% 10/22/25 (c) | 250,000 | 265,000 | ||||||
3.450% 2/02/61 (c) | 200,000 | 183,698 | ||||||
3.750% 1/21/55 (c) | 200,000 | 195,840 | ||||||
State of Israel | ||||||||
3.375% 1/15/50 | 200,000 | 202,000 | ||||||
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $7,399,706) | 7,413,026 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
U.S. Government Agency Obligations and Instrumentalities — 15.1% | ||||||||
Collateralized Mortgage Obligations — 9.8% | ||||||||
Federal Home Loan Mortgage Corp. REMICS | ||||||||
Series 4934, Class P, 2.500% 11/15/40 | $ | 2,134,712 | $ | 2,233,173 | ||||
Series 4093, Class PA, 3.000% 8/15/42 | 2,113,335 | 2,190,908 | ||||||
Series 4481, Class B, 3.000% 12/15/42 | 2,627,040 | 2,676,050 | ||||||
Series 4483, Class CA, 3.000% 6/15/44 | 3,227,935 | 3,376,277 | ||||||
Series 4750, Class PA, 3.000% 7/15/46 | 1,055,412 | 1,081,967 | ||||||
Federal Home Loan Mortgage Corp. STRIPS | ||||||||
Series 355, Class 300, 3.000% 8/15/47 | 2,253,176 | 2,382,747 | ||||||
Series 358, Class 300, 3.000% 10/15/47 | 1,905,061 | 2,009,414 | ||||||
Federal National Mortgage Association Series 2018-44, Class PZ 3.500% 6/25/48 | 2,870,636 | 3,126,071 | ||||||
Federal National Mortgage Association REMICS | ||||||||
Series 2018-21, Class PO, 0.000% 4/25/48 | 1,393,474 | 1,245,222 | ||||||
Series 2015-9, Class HA, 3.000% 1/25/45 | 530,542 | 559,551 | ||||||
Government National Mortgage Association | ||||||||
Series 2015-74, Class LZ, 3.500% 5/20/45 | 3,501,743 | 3,647,294 | ||||||
Series 2015-92, Class CZ, 3.500% 6/20/45 | 5,571,803 | 5,928,776 | ||||||
30,457,450 | ||||||||
Pass-Through Securities — 4.4% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
Pool #BL5484 2.260% 1/01/30 | 3,000,000 | 3,110,522 | ||||||
Pool #G08520 2.500% 1/01/43 | 781,208 | 808,079 | ||||||
Pool #SB0048 3.000% 8/01/34 | 1,641,941 | 1,751,213 | ||||||
Pool #G08632 3.500% 3/01/45 | 1,227,323 | 1,321,038 | ||||||
Federal National Mortgage Association | ||||||||
Pool #MA4281 2.000% 3/01/51 | 3,990,291 | 3,980,972 | ||||||
Pool #MA2248 3.000% 4/01/45 | 681,376 | 712,074 | ||||||
Pool #AS7661 3.000% 8/01/46 | 555,336 | 578,446 | ||||||
Pool #AX2501 4.000% 10/01/44 | 1,114,832 | 1,224,653 | ||||||
13,486,997 | ||||||||
Whole Loans — 0.9% | ||||||||
Federal Home Loan Mortgage Corp. SCRT Series 2018-2, Class HV 3.000% VRN 11/25/57 (f) | 2,734,195 | 2,888,596 | ||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $44,403,905) | 46,833,043 | |||||||
U.S. Treasury Obligations — 23.4% | ||||||||
U.S. Treasury Bonds & Notes — 23.4% | ||||||||
U.S. Treasury Bond | ||||||||
1.250% 5/15/50 | 10,880,000 | 8,186,039 | ||||||
1.875% 2/15/41 | 4,250,000 | 3,946,037 | ||||||
1.875% 2/15/51 | 3,960,000 | 3,500,695 | ||||||
2.750% 11/15/42 | 165,000 | 176,332 | ||||||
2.750% 11/15/47 | 2,070,000 | 2,206,464 | ||||||
4.750% 2/15/37 | 1,880,000 | 2,566,787 | ||||||
U.S. Treasury Note | ||||||||
0.125% 6/30/22 | 6,720,000 | 6,721,450 | ||||||
0.250% 11/15/23 | 340,000 | 339,801 | ||||||
0.250% 3/15/24 | 13,290,000 | 13,252,555 | ||||||
0.375% 11/30/25 | 430,000 | 420,408 | ||||||
0.500% 6/30/27 | 3,300,000 | 3,147,537 | ||||||
0.500% 10/31/27 | 480,000 | 454,378 | ||||||
0.750% 3/31/26 | 5,940,000 | 5,885,652 | ||||||
0.875% 11/15/30 | 420,000 | 388,102 | ||||||
1.125% 2/15/31 | 1,870,000 | 1,765,087 | ||||||
1.250% 3/31/28 | 6,280,000 | 6,210,900 | ||||||
1.625% 10/31/26 | 1,830,000 | 1,881,930 | ||||||
2.125% 9/30/24 | 2,410,000 | 2,545,297 | ||||||
2.250% 10/31/24 | 2,990,000 | 3,171,279 | ||||||
2.625% 1/31/26 | 500,000 | 540,995 | ||||||
2.750% 2/28/25 | 1,810,000 | 1,958,217 | ||||||
3.000% 9/30/25 | 2,930,000 | 3,215,540 | ||||||
72,481,482 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $74,888,541) | 72,481,482 | |||||||
TOTAL BONDS & NOTES (Cost $301,802,325) | 300,266,366 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $301,802,325) | 300,266,366 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 3.1% | ||||||||
Repurchase Agreement — 1.4% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (g) | $ | 4,213,011 | $ | 4,213,011 | ||||
U.S. Treasury Bill — 1.7% | ||||||||
U.S. Treasury Bill | ||||||||
0.000% 5/06/21 | 5,150,000 | 5,149,912 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $9,362,873) | 9,362,923 | |||||||
TOTAL INVESTMENTS — 99.9% (Cost $311,165,198) (h) | 309,629,289 | |||||||
Less Unfunded Loan Commitments (0.00)% | (27,764 | ) | ||||||
NET INVESTMENTS — 99.9% (Cost $311,137,434) | 309,601,525 | |||||||
Other Assets/(Liabilities) — 0.1% | 200,937 | |||||||
NET ASSETS — 100.0% | $ | 309,802,462 |
Abbreviation Legend
BAB | Build America Bonds |
CLO | Collateralized Loan Obligation |
DIP | Debtor In Possession |
FRN | Floating Rate Note |
PO | Principal Only |
REMICS | Real Estate Mortgage Investment Conduits |
SCRT | Seasoned Credit Risk Transfer |
STEP | Step Up Bond |
STRIPS | Separate Trading of Registered Interest and Principal of Securities |
VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | All or a portion of the security represents unsettled loan commitments at March 31, 2021 where the rate will be determined at time of settlement. |
(b) | Unfunded or partially unfunded loan commitments. |
(c) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $78,021,397 or 25.18% of net assets. |
(d) | Security is perpetual and has no stated maturity date. |
(e) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(f) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at March 31, 2021. |
(g) | Maturity value of $4,213,011. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $4,297,354. |
(h) | See Note 3 for aggregate cost for federal tax purposes. |
Currency Legend | |
USD | U.S. Dollar |
MML Equity Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 99.0% | ||||||||
Common Stock — 98.9% | ||||||||
Basic Materials — 3.6% | ||||||||
Chemicals — 2.2% | ||||||||
Celanese Corp. | 9,600 | $ | 1,438,176 | |||||
Eastman Chemical Co. | 11,200 | 1,233,344 | ||||||
FMC Corp. | 10,700 | 1,183,527 | ||||||
Huntsman Corp. | 11,000 | 317,130 | ||||||
International Flavors & Fragrances, Inc. | 9,484 | 1,324,061 | ||||||
Linde PLC | 19,542 | 5,474,496 | ||||||
LyondellBasell Industries NV Class A | 27,500 | 2,861,375 | ||||||
The Mosaic Co. | 31,200 | 986,232 | ||||||
PPG Industries, Inc. | 16,569 | 2,489,658 | ||||||
RPM International, Inc. | 10,700 | 982,795 | ||||||
The Sherwin-Williams Co. | 1,150 | 848,712 | ||||||
19,139,506 | ||||||||
Forest Products & Paper — 0.8% | ||||||||
International Paper Co. | 127,305 | 6,883,381 | ||||||
Iron & Steel — 0.4% | ||||||||
Nucor Corp. | 24,800 | 1,990,696 | ||||||
Reliance Steel & Aluminum Co. | 5,200 | 791,908 | ||||||
Steel Dynamics, Inc. | 17,300 | 878,148 | ||||||
3,660,752 | ||||||||
Mining — 0.2% | ||||||||
Freeport-McMoRan, Inc. (a) | 24,400 | 803,492 | ||||||
Southern Copper Corp. | 1,112 | 75,471 | ||||||
Teck Resources Ltd. Class B | 26,000 | 498,680 | ||||||
1,377,643 | ||||||||
31,061,282 | ||||||||
Communications — 7.1% | ||||||||
Advertising — 0.2% | ||||||||
The Interpublic Group of Cos., Inc. | 18,400 | 537,280 | ||||||
Omnicom Group, Inc. | 17,700 | 1,312,455 | ||||||
1,849,735 | ||||||||
Internet — 2.7% | ||||||||
Alphabet, Inc. Class C (a) | 7,971 | 16,489,049 | ||||||
CDW Corp. | 11,800 | 1,955,850 | ||||||
eBay, Inc. | 56,700 | 3,472,308 | ||||||
Facebook, Inc. Class A (a) | 5,900 | 1,737,727 | ||||||
23,654,934 | ||||||||
Media — 2.5% | ||||||||
Charter Communications, Inc. Class A (a) | 1,000 | 617,020 | ||||||
Comcast Corp. Class A | 275,600 | 14,912,716 | ||||||
Discovery, Inc. Class A (a) (b) | 10,300 | 447,638 | ||||||
Fox Corp. Class A | 27,800 | 1,003,858 | ||||||
The Walt Disney Co. (a) | 26,213 | 4,836,823 | ||||||
21,818,055 | ||||||||
Telecommunications — 1.7% | ||||||||
Cisco Systems, Inc. | 232,800 | 12,038,088 | ||||||
Corning, Inc. | 40,300 | 1,753,453 | ||||||
Juniper Networks, Inc. | 18,900 | 478,737 | ||||||
14,270,278 | ||||||||
61,593,002 | ||||||||
Consumer, Cyclical — 11.6% | ||||||||
Airlines — 0.3% | ||||||||
Southwest Airlines Co. | 39,361 | 2,403,383 | ||||||
Apparel — 0.1% | ||||||||
Hanesbrands, Inc. | 13,300 | 261,611 | ||||||
Skechers U.S.A., Inc. Class A (a) | 7,600 | 316,996 | ||||||
578,607 | ||||||||
Auto Manufacturers — 2.1% | ||||||||
Cummins, Inc. | 12,200 | 3,161,142 | ||||||
Ford Motor Co. (a) | 320,900 | 3,931,025 | ||||||
General Motors Co. | 161,353 | 9,271,344 | ||||||
PACCAR, Inc. | 22,300 | 2,072,116 | ||||||
18,435,627 | ||||||||
Auto Parts & Equipment — 0.1% | ||||||||
Lear Corp. | 3,400 | 616,250 | ||||||
Distribution & Wholesale — 0.3% | ||||||||
LKQ Corp. (a) | 25,000 | 1,058,250 | ||||||
W.W. Grainger, Inc. | 3,200 | 1,282,976 | ||||||
2,341,226 | ||||||||
Entertainment — 0.1% | ||||||||
Live Nation Entertainment, Inc. (a) (b) | 6,257 | 529,655 | ||||||
Vail Resorts, Inc. | 600 | 174,996 | ||||||
704,651 | ||||||||
Home Builders — 0.7% | ||||||||
D.R. Horton, Inc. | 30,000 | 2,673,600 | ||||||
Lennar Corp. Class A | 22,700 | 2,297,921 | ||||||
PulteGroup, Inc. | 22,100 | 1,158,924 | ||||||
Toll Brothers, Inc. | 7,000 | 397,110 | ||||||
6,527,555 |
MML Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Home Furnishing — 0.2% | ||||||||
Tempur Sealy International, Inc. | 6,800 | $ | 248,608 | |||||
Whirlpool Corp. | 5,100 | 1,123,785 | ||||||
1,372,393 | ||||||||
Housewares — 0.1% | ||||||||
Newell Brands, Inc. | 34,800 | 931,944 | ||||||
The Scotts Miracle-Gro Co. | 1,200 | 293,964 | ||||||
1,225,908 | ||||||||
Leisure Time — 0.1% | ||||||||
Brunswick Corp. | 6,400 | 610,368 | ||||||
Polaris, Inc. | 2,500 | 333,750 | ||||||
944,118 | ||||||||
Lodging — 0.4% | ||||||||
Hilton Worldwide Holdings, Inc. | 14,573 | 1,762,167 | ||||||
Hyatt Hotels Corp. Class A | 3,200 | 264,640 | ||||||
Marriott International, Inc. Class A | 7,337 | 1,086,683 | ||||||
3,113,490 | ||||||||
Retail — 7.0% | ||||||||
Advance Auto Parts, Inc. | 5,500 | 1,009,195 | ||||||
AutoNation, Inc. (a) | 7,200 | 671,184 | ||||||
AutoZone, Inc. (a) | 2,000 | 2,808,600 | ||||||
Best Buy Co., Inc. | 21,300 | 2,445,453 | ||||||
CarMax, Inc. (a) | 6,300 | 835,758 | ||||||
Casey's General Stores, Inc. | 3,000 | 648,570 | ||||||
Dollar Tree, Inc. (a) | 19,300 | 2,209,078 | ||||||
Genuine Parts Co. | 11,900 | 1,375,521 | ||||||
The Home Depot, Inc. | 31,700 | 9,676,425 | ||||||
L Brands, Inc. | 12,481 | 772,075 | ||||||
Lowe's Cos., Inc. | 64,900 | 12,342,682 | ||||||
McDonald's Corp. | 5,509 | 1,234,787 | ||||||
O'Reilly Automotive, Inc. (a) | 5,900 | 2,992,775 | ||||||
Ross Stores, Inc. | 7,290 | 874,144 | ||||||
Starbucks Corp. | 18,200 | 1,988,714 | ||||||
Target Corp. | 41,200 | 8,160,484 | ||||||
The TJX Cos., Inc. | 28,964 | 1,915,968 | ||||||
Tractor Supply Co. | 6,400 | 1,133,312 | ||||||
Walgreens Boots Alliance, Inc. | 36,600 | 2,009,340 | ||||||
Walmart, Inc. | 9,100 | 1,236,053 | ||||||
Williams-Sonoma, Inc. | 4,400 | 788,480 | ||||||
Yum! Brands, Inc. | 34,005 | 3,678,661 | ||||||
60,807,259 | ||||||||
Textiles — 0.1% | ||||||||
Mohawk Industries, Inc. (a) | 5,800 | 1,115,398 | ||||||
100,185,865 | ||||||||
Consumer, Non-cyclical — 18.7% | ||||||||
Agriculture — 1.9% | ||||||||
Altria Group, Inc. | 63,000 | 3,223,080 | ||||||
Archer-Daniels-Midland Co. | 45,700 | 2,604,900 | ||||||
Bunge Ltd. | 11,500 | 911,605 | ||||||
Darling Ingredients, Inc. (a) | 24,032 | 1,768,275 | ||||||
Philip Morris International, Inc. | 88,100 | 7,817,994 | ||||||
16,325,854 | ||||||||
Beverages — 0.0% | ||||||||
Molson Coors Beverage Co. Class B | 6,800 | 347,820 | ||||||
Biotechnology — 1.3% | ||||||||
Alexion Pharmaceuticals, Inc. (a) | 12,100 | 1,850,211 | ||||||
Amgen, Inc. | 33,700 | 8,384,897 | ||||||
Bio-Rad Laboratories, Inc. Class A (a) | 2,100 | 1,199,457 | ||||||
11,434,565 | ||||||||
Commercial Services — 0.8% | ||||||||
AMERCO | 1,700 | 1,041,420 | ||||||
Quanta Services, Inc. | 8,800 | 774,224 | ||||||
Service Corp. International | 14,400 | 735,120 | ||||||
United Rentals, Inc. (a) | 14,550 | 4,791,460 | ||||||
7,342,224 | ||||||||
Cosmetics & Personal Care — 1.1% | ||||||||
The Procter & Gamble Co. | 68,200 | 9,236,326 | ||||||
Food — 0.8% | ||||||||
Conagra Brands, Inc. | 31,400 | 1,180,640 | ||||||
The J.M. Smucker Co. | 6,300 | 797,139 | ||||||
The Kraft Heinz Co. | 78,400 | 3,136,000 | ||||||
Mondelez International, Inc. Class A | 12,680 | 742,160 | ||||||
Tyson Foods, Inc. Class A | 18,800 | 1,396,840 | ||||||
7,252,779 | ||||||||
Health Care – Products — 2.3% | ||||||||
Abbott Laboratories | 13,100 | 1,569,904 | ||||||
Danaher Corp. | 24,653 | 5,548,897 | ||||||
Hologic, Inc. (a) | 21,200 | 1,576,856 | ||||||
Medtronic PLC | 31,551 | 3,727,119 | ||||||
Stryker Corp. | 9,791 | 2,384,892 | ||||||
Thermo Fisher Scientific, Inc. | 10,494 | 4,789,252 | ||||||
19,596,920 |
MML Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Health Care – Services — 5.9% | ||||||||
Anthem, Inc. | 29,664 | $ | 10,647,893 | |||||
Centene Corp. (a) | 4,311 | 275,516 | ||||||
DaVita, Inc. (a) | 9,200 | 991,484 | ||||||
HCA Healthcare, Inc. | 49,853 | 9,389,314 | ||||||
Laboratory Corp. of America Holdings (a) | 8,000 | 2,040,240 | ||||||
Molina Healthcare, Inc. (a) | 4,900 | 1,145,424 | ||||||
Quest Diagnostics, Inc. | 11,100 | 1,424,574 | ||||||
UnitedHealth Group, Inc. | 65,612 | 24,412,257 | ||||||
Universal Health Services, Inc. Class B | 6,400 | 853,696 | ||||||
51,180,398 | ||||||||
Household Products & Wares — 0.3% | ||||||||
Avery Dennison Corp. | 11,978 | 2,199,760 | ||||||
Pharmaceuticals — 4.3% | ||||||||
AbbVie, Inc. | 21,437 | 2,319,912 | ||||||
AmerisourceBergen Corp. | 16,800 | 1,983,576 | ||||||
AstraZeneca PLC Sponsored ADR (b) | 4,700 | 233,684 | ||||||
Bausch Health Cos., Inc. (a) | 25,129 | 797,594 | ||||||
Cigna Corp. | 19,900 | 4,810,626 | ||||||
Elanco Animal Health, Inc. (a) | 48,428 | 1,426,205 | ||||||
Eli Lilly and Co. | 11,006 | 2,056,141 | ||||||
Henry Schein, Inc. (a) | 8,200 | 567,768 | ||||||
Jazz Pharmaceuticals PLC (a) | 4,600 | 756,102 | ||||||
Johnson & Johnson | 115,716 | 19,017,925 | ||||||
McKesson Corp. | 13,200 | 2,574,528 | ||||||
Merck & Co., Inc. | 7,100 | 547,339 | ||||||
37,091,400 | ||||||||
162,008,046 | ||||||||
Energy — 2.6% | ||||||||
Energy – Alternate Sources — 0.0% | ||||||||
First Solar, Inc. (a) | 3,600 | 314,280 | ||||||
Oil & Gas — 2.1% | ||||||||
ConocoPhillips | 6,800 | 360,196 | ||||||
Continental Resources, Inc. | 30,000 | 776,100 | ||||||
Devon Energy Corp. | 47,950 | 1,047,708 | ||||||
EOG Resources, Inc. | 54,600 | 3,960,138 | ||||||
Exxon Mobil Corp. | 143,300 | 8,000,439 | ||||||
Marathon Oil Corp. | 26,700 | 285,156 | ||||||
Phillips 66 | 28,000 | 2,283,120 | ||||||
Valero Energy Corp. | 26,100 | 1,868,760 | ||||||
18,581,617 | ||||||||
Pipelines — 0.5% | ||||||||
Cheniere Energy, Inc. (a) | 20,800 | 1,497,808 | ||||||
The Williams Cos., Inc. | 99,900 | 2,366,631 | ||||||
3,864,439 | ||||||||
22,760,336 | ||||||||
Financial — 27.5% | ||||||||
Banks — 15.4% | ||||||||
Bank of America Corp. | 709,619 | 27,455,159 | ||||||
The Bank of New York Mellon Corp. | 56,900 | 2,690,801 | ||||||
Citizens Financial Group, Inc. | 49,787 | 2,198,096 | ||||||
Comerica, Inc. | 8,800 | 631,312 | ||||||
Commerce Bancshares, Inc. | 6,672 | 511,142 | ||||||
Cullen/Frost Bankers, Inc. | 3,300 | 358,908 | ||||||
East West Bancorp, Inc. | 9,000 | 664,200 | ||||||
Fifth Third Bancorp | 45,600 | 1,707,720 | ||||||
The Goldman Sachs Group, Inc. | 31,635 | 10,344,645 | ||||||
Huntington Bancshares, Inc. | 56,200 | 883,464 | ||||||
JP Morgan Chase & Co. | 210,800 | 32,090,084 | ||||||
KeyCorp | 62,700 | 1,252,746 | ||||||
M&T Bank Corp. | 7,900 | 1,197,719 | ||||||
Morgan Stanley | 169,963 | 13,199,327 | ||||||
Northern Trust Corp. | 13,300 | 1,397,963 | ||||||
The PNC Financial Services Group, Inc. | 37,844 | 6,638,216 | ||||||
Regions Financial Corp. | 61,600 | 1,272,656 | ||||||
State Street Corp. | 22,700 | 1,907,027 | ||||||
SVB Financial Group (a) | 3,300 | 1,629,078 | ||||||
Truist Financial Corp. | 54,800 | 3,195,936 | ||||||
US Bancorp | 92,973 | 5,142,337 | ||||||
Wells Fargo & Co. | 411,551 | 16,079,297 | ||||||
Western Alliance Bancorp | 6,200 | 585,528 | ||||||
Zions Bancorp NA | 10,500 | 577,080 | ||||||
133,610,441 |
MML Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Diversified Financial Services — 3.6% | ||||||||
Ally Financial, Inc. | 24,000 | $ | 1,085,040 | |||||
American Express Co. | 600 | 84,864 | ||||||
Ameriprise Financial, Inc. | 7,900 | 1,836,355 | ||||||
BlackRock, Inc. | 8,800 | 6,634,848 | ||||||
Capital One Financial Corp. | 29,300 | 3,727,839 | ||||||
The Charles Schwab Corp. | 74,314 | 4,843,786 | ||||||
Discover Financial Services | 11,700 | 1,111,383 | ||||||
LPL Financial Holdings, Inc. | 5,100 | 725,016 | ||||||
Nasdaq, Inc. | 10,500 | 1,548,330 | ||||||
OneMain Holdings, Inc. | 4,600 | 247,112 | ||||||
Raymond James Financial, Inc. | 8,700 | 1,066,272 | ||||||
SEI Investments Co. | 9,200 | 560,556 | ||||||
Synchrony Financial | 37,500 | 1,524,750 | ||||||
T. Rowe Price Group, Inc. | 14,500 | 2,488,200 | ||||||
Visa, Inc. Class A | 13,900 | 2,943,047 | ||||||
The Western Union Co. | 33,800 | 833,508 | ||||||
31,260,906 | ||||||||
Insurance — 6.9% | ||||||||
Aflac, Inc. | 45,000 | 2,303,100 | ||||||
Alleghany Corp. (a) | 500 | 313,145 | ||||||
The Allstate Corp. | 19,500 | 2,240,550 | ||||||
American Financial Group, Inc. | 5,600 | 638,960 | ||||||
American International Group, Inc. | 130,078 | 6,010,904 | ||||||
Arch Capital Group Ltd. (a) | 25,000 | 959,250 | ||||||
Assurant, Inc. | 3,800 | 538,726 | ||||||
Chubb Ltd. | 45,508 | 7,188,899 | ||||||
Cincinnati Financial Corp. | 5,400 | 556,686 | ||||||
Equitable Holdings, Inc. | 167,996 | 5,480,030 | ||||||
Everest Re Group Ltd. | 2,500 | 619,525 | ||||||
First American Financial Corp. | 5,900 | 334,235 | ||||||
The Hartford Financial Services Group, Inc. | 69,750 | 4,658,602 | ||||||
Lincoln National Corp. | 12,400 | 772,148 | ||||||
Loews Corp. | 22,310 | 1,144,057 | ||||||
Markel Corp. (a) | 890 | 1,014,262 | ||||||
Marsh & McLennan Cos., Inc. | 10,411 | 1,268,060 | ||||||
MetLife, Inc. | 140,337 | 8,531,086 | ||||||
Old Republic International Corp. | 12,200 | 266,448 | ||||||
Principal Financial Group, Inc. | 22,769 | 1,365,229 | ||||||
The Progressive Corp. | 37,600 | 3,594,936 | ||||||
Prudential Financial, Inc. | 25,300 | 2,304,830 | ||||||
The Travelers Cos., Inc. | 41,300 | 6,211,520 | ||||||
Voya Financial, Inc. (b) | 8,500 | 540,940 | ||||||
W.R. Berkley Corp. | 11,400 | 858,990 | ||||||
59,715,118 | ||||||||
Real Estate — 0.3% | ||||||||
CBRE Group, Inc. Class A (a) | 27,600 | 2,183,436 | ||||||
Jones Lang LaSalle, Inc. (a) | 4,200 | 751,968 | ||||||
2,935,404 | ||||||||
Real Estate Investment Trusts (REITS) — 1.3% | ||||||||
Equinix, Inc. | 800 | 543,672 | ||||||
Prologis, Inc. | 53,190 | 5,638,140 | ||||||
Welltower, Inc. | 26,834 | 1,922,120 | ||||||
Weyerhaeuser Co. | 84,834 | 3,020,090 | ||||||
11,124,022 | ||||||||
238,645,891 | ||||||||
Industrial — 13.2% | ||||||||
Aerospace & Defense — 0.5% | ||||||||
General Dynamics Corp. | 23,600 | 4,284,816 | ||||||
Building Materials — 1.0% | ||||||||
Fortune Brands Home & Security, Inc. | 11,500 | 1,101,930 | ||||||
Johnson Controls International PLC | 83,858 | 5,003,807 | ||||||
Masco Corp. | 21,600 | 1,293,840 | ||||||
Owens Corning | 8,900 | 819,601 | ||||||
8,219,178 | ||||||||
Electrical Components & Equipment — 0.4% | ||||||||
Emerson Electric Co. | 33,400 | 3,013,348 | ||||||
Schneider Electric SE | 5,495 | 839,557 | ||||||
3,852,905 | ||||||||
Electronics — 1.5% | ||||||||
Agilent Technologies, Inc. | 21,401 | 2,720,923 | ||||||
Allegion PLC | 3,600 | 452,232 | ||||||
Arrow Electronics, Inc. (a) | 6,200 | 687,084 | ||||||
Fortive Corp. | 3,600 | 254,304 | ||||||
Honeywell International, Inc. | 22,396 | 4,861,500 | ||||||
Hubbell, Inc. | 14,335 | 2,679,068 | ||||||
Jabil, Inc. | 12,400 | 646,784 | ||||||
Keysight Technologies, Inc. (a) | 509 | 72,991 | ||||||
Sensata Technologies Holding PLC (a) | 9,000 | 521,550 | ||||||
12,896,436 | ||||||||
Engineering & Construction — 0.4% | ||||||||
Jacobs Engineering Group, Inc. | 26,656 | 3,445,821 |
MML Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Environmental Controls — 0.1% | ||||||||
Pentair PLC | 13,700 | $ | 853,784 | |||||
Hand & Machine Tools — 0.1% | ||||||||
Snap-on, Inc. | 4,500 | 1,038,330 | ||||||
Machinery – Construction & Mining — 0.9% | ||||||||
BWX Technologies, Inc. | 3,700 | 243,978 | ||||||
Caterpillar, Inc. | 28,595 | 6,630,323 | ||||||
Oshkosh Corp. | 4,000 | 474,640 | ||||||
7,348,941 | ||||||||
Machinery – Diversified — 1.0% | ||||||||
AGCO Corp. | 6,100 | 876,265 | ||||||
Deere & Co. | 13,214 | 4,943,886 | ||||||
Dover Corp. | 11,900 | 1,631,847 | ||||||
Westinghouse Air Brake Technologies Corp. | 15,600 | 1,234,896 | ||||||
8,686,894 | ||||||||
Miscellaneous - Manufacturing — 2.9% | ||||||||
3M Co. | 47,460 | 9,144,593 | ||||||
Carlisle Cos., Inc. | 4,400 | 724,152 | ||||||
General Electric Co. | 871,482 | 11,442,558 | ||||||
ITT, Inc. | 7,100 | 645,461 | ||||||
Parker-Hannifin Corp. | 7,300 | 2,302,639 | ||||||
Textron, Inc. | 18,800 | 1,054,304 | ||||||
25,313,707 | ||||||||
Packaging & Containers — 1.8% | ||||||||
Amcor PLC | 129,100 | 1,507,888 | ||||||
Ball Corp. | 8,339 | 706,647 | ||||||
Berry Global Group, Inc. (a) | 7,300 | 448,220 | ||||||
Crown Holdings, Inc. | 11,100 | 1,077,144 | ||||||
Packaging Corp. of America | 37,326 | 5,019,601 | ||||||
Sealed Air Corp. | 12,800 | 586,496 | ||||||
Sonoco Products Co. | 5,500 | 348,150 | ||||||
WestRock Co. | 114,709 | 5,970,603 | ||||||
15,664,749 | ||||||||
Transportation — 2.6% | ||||||||
CSX Corp. | 48,600 | 4,686,012 | ||||||
Expeditors International of Washington, Inc. | 3,800 | 409,222 | ||||||
FedEx Corp. | 9,454 | 2,685,314 | ||||||
Knight-Swift Transportation Holdings, Inc. | 14,000 | 673,260 | ||||||
Norfolk Southern Corp. | 14,907 | 4,002,828 | ||||||
Union Pacific Corp. | 5,820 | 1,282,786 | ||||||
United Parcel Service, Inc. Class B | 53,084 | 9,023,749 | ||||||
22,763,171 | ||||||||
114,368,732 | ||||||||
Technology — 11.3% | ||||||||
Computers — 1.2% | ||||||||
Cognizant Technology Solutions Corp. Class A | 44,000 | 3,437,280 | ||||||
Genpact Ltd. | 15,500 | 663,710 | ||||||
Hewlett Packard Enterprise Co. | 106,400 | 1,674,736 | ||||||
HP, Inc. | 106,100 | 3,368,675 | ||||||
NetApp, Inc. | 18,300 | 1,329,861 | ||||||
10,474,262 | ||||||||
Semiconductors — 6.6% | ||||||||
Analog Devices, Inc. | 17,400 | 2,698,392 | ||||||
Applied Materials, Inc. | 117,717 | 15,726,991 | ||||||
ASML Holding NV | 4,691 | 2,896,036 | ||||||
Broadcom, Inc. | 31,163 | 14,449,036 | ||||||
Intel Corp. | 14,800 | 947,200 | ||||||
KLA Corp. | 3,929 | 1,298,142 | ||||||
Microchip Technology, Inc. | 5,000 | 776,100 | ||||||
Micron Technology, Inc. (a) | 88,185 | 7,778,799 | ||||||
NXP Semiconductor NV | 19,427 | 3,911,432 | ||||||
Qorvo, Inc. (a) | 6,200 | 1,132,740 | ||||||
QUALCOMM, Inc. | 30,113 | 3,992,683 | ||||||
Texas Instruments, Inc. | 6,476 | 1,223,899 | ||||||
Xilinx, Inc. | 1,300 | 161,070 | ||||||
56,992,520 |
MML Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Software — 3.5% | ||||||||
CDK Global, Inc. | 6,700 | $ | 362,202 | |||||
Citrix Systems, Inc. | 418 | 58,670 | ||||||
Fiserv, Inc. (a) | 18,888 | 2,248,428 | ||||||
Microsoft Corp. | 45,696 | 10,773,746 | ||||||
Oracle Corp. | 242,000 | 16,981,140 | ||||||
salesforce.com, Inc. (a) | 1,500 | 317,805 | ||||||
Synopsys, Inc. (a) | 602 | 149,164 | ||||||
30,891,155 | ||||||||
98,357,937 | ||||||||
Utilities — 3.3% | ||||||||
Electric — 3.2% | ||||||||
AES Corp. | 90,375 | 2,422,954 | ||||||
Ameren Corp. | 11,350 | 923,436 | ||||||
Dominion Energy, Inc. | 5,826 | 442,543 | ||||||
DTE Energy Co. | 2,700 | 359,478 | ||||||
Evergy, Inc. | 16,000 | 952,480 | ||||||
Exelon Corp. | 80,300 | 3,512,322 | ||||||
FirstEnergy Corp. | 6,400 | 222,016 | ||||||
NextEra Energy, Inc. | 34,801 | 2,631,303 | ||||||
NRG Energy, Inc. | 20,100 | 758,373 | ||||||
OGE Energy Corp. | 10,900 | 352,724 | ||||||
Pinnacle West Capital Corp. | 9,500 | 772,825 | ||||||
Public Service Enterprise Group, Inc. | 80,265 | 4,832,756 | ||||||
Sempra Energy | 37,697 | 4,997,868 | ||||||
The Southern Co. | 65,551 | 4,074,650 | ||||||
WEC Energy Group, Inc. | 4,852 | 454,099 | ||||||
Xcel Energy, Inc. | 3,500 | 232,785 | ||||||
27,942,612 | ||||||||
Gas — 0.1% | ||||||||
UGI Corp. | 17,200 | 705,372 | ||||||
28,647,984 | ||||||||
TOTAL COMMON STOCK (Cost $622,458,524) | 857,629,075 | |||||||
Preferred Stock — 0.1% | ||||||||
Communications — 0.0% | ||||||||
Media — 0.0% | ||||||||
ViacomCBS, Inc. Convertible 5.750% | 1,435 | 96,360 | ||||||
Utilities — 0.1% | ||||||||
Electric — 0.1% | ||||||||
The AES Corp. Convertible 6.875% | 6,246 | 645,212 | ||||||
The Southern Co. Convertible 6.750% | 7,930 | 403,875 | ||||||
1,049,087 | ||||||||
TOTAL PREFERRED STOCK (Cost $1,118,161) | 1,145,447 | |||||||
TOTAL EQUITIES (Cost $623,576,685) | 858,774,522 | |||||||
Mutual Funds — 1.0% | ||||||||
Diversified Financial Services — 1.0% | ||||||||
iShares Russell 1000 Value ETF | 50,639 | 7,674,340 | ||||||
State Street Navigator Securities Lending Prime Portfolio (c) | 533,546 | 533,546 | ||||||
TOTAL MUTUAL FUNDS (Cost $7,631,049) | 8,207,886 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $631,207,734) | 866,982,408 |
MML Equity Fund — Portfolio of Investments (Continued) |
Short-Term Investments — 0.2% | ||||||||
Number of Shares | Value | |||||||
Mutual Fund — 0.0% | ||||||||
T. Rowe Price Government Reserve Investment Fund | 318,297 | $ | 318,297 |
Principal Amount | ||||||||
Repurchase Agreement — 0.2% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (d) | $ | 2,106,874 | $ | 2,106,874 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,425,171) | 2,425,171 | |||||||
TOTAL INVESTMENTS — 100.2% (Cost $633,632,905) (e) | 869,407,579 | |||||||
Other Assets/(Liabilities) — (0.2)% | (1,834,412 | ) | ||||||
NET ASSETS — 100.0% | $ | 867,573,167 |
Abbreviation Legend
ADR American Depositary Receipt
ETF Exchange-Traded Fund
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $1,668,617 or 0.19% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $1,174,332 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(c) | Represents investment of security lending cash collateral. (Note 2). |
(d) | Maturity value of $2,106,874. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $2,149,149. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
MML Equity Momentum Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 100.0% | ||||||||
Common Stock — 100.0% | ||||||||
Basic Materials — 1.9% | ||||||||
Chemicals — 0.8% | ||||||||
Albemarle Corp. | 639 | $ | 93,364 | |||||
DuPont de Nemours, Inc. | 2,164 | 167,234 | ||||||
Eastman Chemical Co. | 439 | 48,343 | ||||||
308,941 | ||||||||
Mining — 1.1% | ||||||||
Freeport-McMoRan, Inc. (a) | 9,015 | 296,864 | ||||||
Newmont Corp. | 2,343 | 141,213 | ||||||
438,077 | ||||||||
747,018 | ||||||||
Communications — 13.8% | ||||||||
Internet — 12.9% | ||||||||
Amazon.com, Inc. (a) | 1,168 | 3,613,885 | ||||||
eBay, Inc. | 3,816 | 233,692 | ||||||
Etsy, Inc. (a) | 922 | 185,940 | ||||||
F5 Networks, Inc. (a) | 300 | 62,586 | ||||||
Netflix, Inc. (a) | 1,731 | 902,993 | ||||||
NortonLifeLock, Inc. | 1,860 | 39,544 | ||||||
Twitter, Inc. (a) | 2,652 | 168,747 | ||||||
5,207,387 | ||||||||
Media — 0.1% | ||||||||
News Corp. Class A | 1,319 | 33,542 | ||||||
Telecommunications — 0.8% | ||||||||
T-Mobile US, Inc. (a) | 2,773 | 347,429 | ||||||
5,588,358 | ||||||||
Consumer, Cyclical — 17.1% | ||||||||
Apparel — 1.5% | ||||||||
NIKE, Inc. Class B | 4,470 | 594,018 | ||||||
Auto Manufacturers — 10.0% | ||||||||
Cummins, Inc. | 594 | 153,911 | ||||||
General Motors Co. | 4,099 | 235,529 | ||||||
PACCAR, Inc. | 966 | 89,761 | ||||||
Tesla, Inc. (a) | 5,350 | 3,573,425 | ||||||
4,052,626 | ||||||||
Auto Parts & Equipment — 0.3% | ||||||||
Aptiv PLC | 837 | 115,422 | ||||||
Distribution & Wholesale — 0.4% | ||||||||
Fastenal Co. | 1,890 | 95,029 | ||||||
Pool Corp. | 179 | 61,798 | ||||||
156,827 | ||||||||
Retail — 4.9% | ||||||||
Chipotle Mexican Grill, Inc. (a) | 133 | 188,969 | ||||||
Costco Wholesale Corp. | 1,206 | 425,091 | ||||||
Dollar General Corp. | 812 | 164,528 | ||||||
Domino's Pizza, Inc. | 117 | 43,031 | ||||||
L Brands, Inc. | 722 | 44,663 | ||||||
Lowe's Cos., Inc. | 2,471 | 469,935 | ||||||
Target Corp. | 2,862 | 566,876 | ||||||
Tractor Supply Co. | 533 | 94,384 | ||||||
1,997,477 | ||||||||
6,916,370 | ||||||||
Consumer, Non-cyclical — 19.6% | ||||||||
Beverages — 0.3% | ||||||||
Monster Beverage Corp. (a) | 1,174 | 106,940 | ||||||
Biotechnology — 1.2% | ||||||||
Bio-Rad Laboratories, Inc. Class A (a) | 102 | 58,260 | ||||||
Illumina, Inc. (a) | 538 | 206,624 | ||||||
Regeneron Pharmaceuticals, Inc. (a) | 420 | 198,719 | ||||||
463,603 | ||||||||
Commercial Services — 5.1% | ||||||||
MarketAxess Holdings, Inc. | 151 | 75,186 | ||||||
PayPal Holdings, Inc. (a) | 7,358 | 1,786,817 | ||||||
Quanta Services, Inc. | 730 | 64,225 | ||||||
Rollins, Inc. | 874 | 30,083 | ||||||
United Rentals, Inc. (a) | 291 | 95,829 | ||||||
2,052,140 | ||||||||
Food — 0.2% | ||||||||
The Kroger Co. | 2,573 | 92,602 | ||||||
Health Care – Products — 8.8% | ||||||||
Abbott Laboratories | 6,958 | 833,847 | ||||||
ABIOMED, Inc. (a) | 283 | 90,200 | ||||||
Align Technology, Inc. (a) | 349 | 188,994 | ||||||
Danaher Corp. | 3,003 | 675,915 | ||||||
Hologic, Inc. (a) | 957 | 71,182 | ||||||
IDEXX Laboratories, Inc. (a) | 502 | 245,634 | ||||||
Intuitive Surgical, Inc. (a) | 341 | 251,978 | ||||||
PerkinElmer, Inc. | 572 | 73,382 | ||||||
Thermo Fisher Scientific, Inc. | 2,150 | 981,217 | ||||||
West Pharmaceutical Services, Inc. | 532 | 149,907 | ||||||
3,562,256 | ||||||||
Health Care – Services — 0.3% | ||||||||
Catalent, Inc. (a) | 924 | 97,306 | ||||||
DaVita, Inc. (a) | 288 | 31,038 | ||||||
128,344 |
MML Equity Momentum Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Household Products & Wares — 0.2% | ||||||||
The Clorox Co. | 482 | $ | 92,968 | |||||
Pharmaceuticals — 3.5% | ||||||||
AbbVie, Inc. | 6,131 | 663,497 | ||||||
DexCom, Inc. (a) | 347 | 124,708 | ||||||
Eli Lilly and Co. | 3,228 | 603,055 | ||||||
1,391,260 | ||||||||
7,890,113 | ||||||||
Energy — 0.4% | ||||||||
Energy – Alternate Sources — 0.4% | ||||||||
Enphase Energy, Inc. (a) | 943 | 152,917 | ||||||
Financial — 0.7% | ||||||||
Banks — 0.3% | ||||||||
SVB Financial Group (a) | 224 | 110,580 | ||||||
Real Estate Investment Trusts (REITS) — 0.4% | ||||||||
Equinix, Inc. | 245 | 166,500 | ||||||
277,080 | ||||||||
Industrial — 7.8% | ||||||||
Building Materials — 0.6% | ||||||||
Carrier Global Corp. | 5,973 | 252,180 | ||||||
Electronics — 1.2% | ||||||||
Agilent Technologies, Inc. | 1,329 | 168,969 | ||||||
Keysight Technologies, Inc. (a) | 771 | 110,561 | ||||||
Mettler-Toledo International, Inc. (a) | 105 | 121,348 | ||||||
Trimble, Inc. (a) | 914 | 71,100 | ||||||
471,978 | ||||||||
Machinery – Construction & Mining — 1.1% | ||||||||
Caterpillar, Inc. | 1,918 | 444,727 | ||||||
Machinery – Diversified — 2.2% | ||||||||
Deere & Co. | 1,848 | 691,411 | ||||||
Otis Worldwide Corp. | 1,433 | 98,089 | ||||||
Rockwell Automation, Inc. | 312 | 82,817 | ||||||
872,317 | ||||||||
Miscellaneous - Manufacturing — 0.3% | ||||||||
Trane Technologies PLC | 809 | 133,938 | ||||||
Packaging & Containers — 0.1% | ||||||||
Packaging Corp. of America | 342 | 45,992 | ||||||
Transportation — 2.3% | ||||||||
FedEx Corp. | 1,043 | 296,254 | ||||||
Old Dominion Freight Line, Inc. | 386 | 92,798 | ||||||
United Parcel Service, Inc. Class B | 3,243 | 551,277 | ||||||
940,329 | ||||||||
3,161,461 | ||||||||
Technology — 38.7% | ||||||||
Computers — 9.0% | ||||||||
Apple, Inc. | 29,803 | 3,640,436 | ||||||
Office & Business Equipment — 0.3% | ||||||||
Zebra Technologies Corp. Class A (a) | 231 | 112,076 | ||||||
Semiconductors — 16.0% | ||||||||
Advanced Micro Devices, Inc. (a) | 5,522 | 433,477 | ||||||
Applied Materials, Inc. | 3,693 | 493,385 | ||||||
Broadcom, Inc. | 1,554 | 720,528 | ||||||
IPG Photonics Corp. (a) | 170 | 35,860 | ||||||
KLA Corp. | 637 | 210,465 | ||||||
Lam Research Corp. | 522 | 310,715 | ||||||
Micron Technology, Inc. (a) | 3,539 | 312,175 | ||||||
Monolithic Power Systems, Inc. | 239 | 84,417 | ||||||
NVIDIA Corp. | 3,998 | 2,134,652 | ||||||
Qorvo, Inc. (a) | 434 | 79,292 | ||||||
QUALCOMM, Inc. | 6,139 | 813,970 | ||||||
Skyworks Solutions, Inc. | 562 | 103,116 | ||||||
Teradyne, Inc. | 761 | 92,598 | ||||||
Texas Instruments, Inc. | 3,222 | 608,926 | ||||||
6,433,576 | ||||||||
Software — 13.4% | ||||||||
Activision Blizzard, Inc. | 3,737 | 347,541 | ||||||
Autodesk, Inc. (a) | 680 | 188,462 | ||||||
Cadence Design Systems, Inc. (a) | 1,555 | 213,019 | ||||||
Electronic Arts, Inc. | 962 | 130,226 | ||||||
Microsoft Corp. | 15,552 | 3,666,695 | ||||||
MSCI, Inc. | 245 | 102,724 | ||||||
ServiceNow, Inc. (a) | 817 | 408,590 | ||||||
Synopsys, Inc. (a) | 837 | 207,392 | ||||||
Take-Two Interactive Software, Inc. (a) | 552 | 97,538 | ||||||
Tyler Technologies, Inc. (a) | 133 | 56,463 | ||||||
5,418,650 | ||||||||
15,604,738 | ||||||||
TOTAL COMMON STOCK (Cost $38,763,600) | 40,338,055 | |||||||
TOTAL EQUITIES (Cost $38,763,600) | 40,338,055 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $38,763,600) | 40,338,055 | |||||||
TOTAL INVESTMENTS — 100.0% (Cost $38,763,600) (b) | 40,338,055 | |||||||
Other Assets/(Liabilities) — 0.0% | 9,128 | |||||||
NET ASSETS — 100.0% | $ | 40,347,183 |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | See Note 3 for aggregate cost for federal tax purposes. |
MML Equity Rotation Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 99.9% | ||||||||
Common Stock — 99.9% | ||||||||
Basic Materials — 5.2% | ||||||||
Chemicals — 3.3% | ||||||||
Air Products & Chemicals, Inc. | 188 | $ | 52,892 | |||||
Albemarle Corp. | 1,368 | 199,878 | ||||||
Axalta Coating Systems Ltd. (a) | 688 | 20,351 | ||||||
Celanese Corp. | 607 | 90,935 | ||||||
The Chemours Co. | 3,904 | 108,961 | ||||||
Dow, Inc. | 1,365 | 87,278 | ||||||
DuPont de Nemours, Inc. | 390 | 30,139 | ||||||
Eastman Chemical Co. | 1,790 | 197,115 | ||||||
Ecolab, Inc. | 149 | 31,896 | ||||||
Element Solutions, Inc. | 1,359 | 24,856 | ||||||
FMC Corp. | 528 | 58,402 | ||||||
Huntsman Corp. | 2,232 | 64,349 | ||||||
International Flavors & Fragrances, Inc. | 209 | 29,179 | ||||||
Linde PLC | 116 | 32,496 | ||||||
LyondellBasell Industries NV Class A | 469 | 48,799 | ||||||
The Mosaic Co. | 464 | 14,667 | ||||||
Olin Corp. | 3,410 | 129,478 | ||||||
PPG Industries, Inc. | 421 | 63,259 | ||||||
RPM International, Inc. | 874 | 80,277 | ||||||
The Sherwin-Williams Co. | 72 | 53,137 | ||||||
Valvoline, Inc. | 1,717 | 44,762 | ||||||
Westlake Chemical Corp. | 282 | 25,039 | ||||||
1,488,145 | ||||||||
Forest Products & Paper — 0.4% | ||||||||
International Paper Co. | 3,104 | 167,833 | ||||||
Iron & Steel — 0.6% | ||||||||
Nucor Corp. | 1,216 | 97,608 | ||||||
Reliance Steel & Aluminum Co. | 515 | 78,430 | ||||||
Steel Dynamics, Inc. | 2,079 | 105,530 | ||||||
281,568 | ||||||||
Mining — 0.9% | ||||||||
Freeport-McMoRan, Inc. (a) | 6,164 | 202,981 | ||||||
Newmont Corp. | 3,088 | 186,114 | ||||||
Royal Gold, Inc. | 116 | 12,484 | ||||||
Southern Copper Corp. | 190 | 12,895 | ||||||
414,474 | ||||||||
2,352,020 | ||||||||
Communications — 7.3% | ||||||||
Advertising — 0.3% | ||||||||
The Interpublic Group of Cos., Inc. | 2,509 | 73,263 | ||||||
Omnicom Group, Inc. | 229 | 16,980 | ||||||
The Trade Desk, Inc. Class A (a) | 88 | 57,346 | ||||||
147,589 | ||||||||
Internet — 4.5% | ||||||||
Alphabet, Inc. Class A (a) | 5 | 10,313 | ||||||
Alphabet, Inc. Class C (a) | 5 | 10,343 | ||||||
Amazon.com, Inc. (a) | 9 | 27,847 | ||||||
Anaplan, Inc. (a) | 253 | 13,624 | ||||||
Booking Holdings, Inc. (a) | 12 | 27,958 | ||||||
CDW Corp. | 273 | 45,250 | ||||||
eBay, Inc. | 3,378 | 206,869 | ||||||
Etsy, Inc. (a) | 541 | 109,103 | ||||||
Expedia Group, Inc. | 758 | 130,467 | ||||||
F5 Networks, Inc. (a) | 368 | 76,772 | ||||||
Facebook, Inc. Class A (a) | 35 | 10,309 | ||||||
GoDaddy, Inc. Class A (a) | 475 | 36,869 | ||||||
GrubHub, Inc. (a) | 786 | 47,160 | ||||||
IAC/InterActiveCorp (a) | 1,602 | 346,529 | ||||||
Match Group, Inc. (a) | 456 | 62,645 | ||||||
Netflix, Inc. (a) | 33 | 17,215 | ||||||
NortonLifeLock, Inc. | 7,015 | 149,139 | ||||||
Okta, Inc. (a) | 297 | 65,468 | ||||||
Palo Alto Networks, Inc. (a) | 179 | 57,649 | ||||||
Pinterest, Inc. Class A (a) | 655 | 48,490 | ||||||
Roku, Inc. (a) | 264 | 86,003 | ||||||
Spotify Technology SA (a) | 190 | 50,910 | ||||||
Twitter, Inc. (a) | 2,321 | 147,685 | ||||||
VeriSign, Inc. (a) | 126 | 25,044 | ||||||
Wayfair, Inc. Class A (a) (b) | 268 | 84,353 | ||||||
Zendesk, Inc. (a) | 478 | 63,392 | ||||||
Zillow Group, Inc. Class A (a) | 341 | 44,801 | ||||||
Zillow Group, Inc. Class C Class C (a) | 493 | 63,912 | ||||||
2,066,119 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Media — 1.5% | ||||||||
Altice USA, Inc. Class A (a) | 2,379 | $ | 77,389 | |||||
Cable One, Inc. | 30 | 54,851 | ||||||
Charter Communications, Inc. Class A (a) | 77 | 47,511 | ||||||
Comcast Corp. Class A | 545 | 29,490 | ||||||
Discovery, Inc. Class C (a) | 334 | 12,321 | ||||||
DISH Network Corp. Class A (a) | 988 | 35,766 | ||||||
FactSet Research Systems, Inc. | 177 | 54,620 | ||||||
Fox Corp. Class A | 347 | 12,530 | ||||||
Liberty Broadband Corp. Class C (a) | 1,302 | 195,495 | ||||||
Liberty Media Corp-Liberty SiriusXM Class C (a) | 340 | 14,997 | ||||||
The New York Times Co. Class A | 1,078 | 54,568 | ||||||
News Corp. Class A | 1,436 | 36,518 | ||||||
Nexstar Media Group, Inc. Class A | 153 | 21,486 | ||||||
ViacomCBS, Inc. Class B | 772 | 34,817 | ||||||
682,359 | ||||||||
Telecommunications — 1.0% | ||||||||
Arista Networks, Inc. (a) | 294 | 88,756 | ||||||
Ciena Corp. (a) | 592 | 32,394 | ||||||
Corning, Inc. | 3,579 | 155,722 | ||||||
Juniper Networks, Inc. | 877 | 22,214 | ||||||
Lumen Technologies, Inc. | 1,897 | 25,325 | ||||||
Motorola Solutions, Inc. | 260 | 48,893 | ||||||
T-Mobile US, Inc. (a) | 202 | 25,309 | ||||||
Ubiquiti, Inc. | 41 | 12,230 | ||||||
Verizon Communications, Inc. | 264 | 15,352 | ||||||
426,195 | ||||||||
3,322,262 | ||||||||
Consumer, Cyclical — 16.7% | ||||||||
Airlines — 0.1% | ||||||||
JetBlue Airways Corp. (a) | 556 | 11,309 | ||||||
Southwest Airlines Co. | 575 | 35,110 | ||||||
46,419 | ||||||||
Apparel — 0.3% | ||||||||
Capri Holdings Ltd. (a) | 471 | 24,021 | ||||||
Hanesbrands, Inc. | 2,925 | 57,535 | ||||||
NIKE, Inc. Class B | 183 | 24,319 | ||||||
Tapestry, Inc. | 566 | 23,325 | ||||||
VF Corp. | 130 | 10,389 | ||||||
139,589 | ||||||||
Auto Manufacturers — 1.4% | ||||||||
Cummins, Inc. | 872 | 225,944 | ||||||
Ford Motor Co. (a) | 6,909 | 84,635 | ||||||
General Motors Co. | 3,325 | 191,055 | ||||||
PACCAR, Inc. | 1,388 | 128,973 | ||||||
630,607 | ||||||||
Auto Parts & Equipment — 0.6% | ||||||||
Allison Transmission Holdings, Inc. | 314 | 12,821 | ||||||
Aptiv PLC | 737 | 101,632 | ||||||
BorgWarner, Inc. | 635 | 29,439 | ||||||
Gentex Corp. | 1,375 | 49,046 | ||||||
Lear Corp. | 453 | 82,106 | ||||||
275,044 | ||||||||
Distribution & Wholesale — 1.2% | ||||||||
Copart, Inc. (a) | 520 | 56,477 | ||||||
Fastenal Co. | 1,778 | 89,398 | ||||||
IAA, Inc. (a) | 988 | 54,479 | ||||||
LKQ Corp. (a) | 1,452 | 61,463 | ||||||
Pool Corp. | 322 | 111,167 | ||||||
W.W. Grainger, Inc. | 211 | 84,596 | ||||||
Watsco, Inc. | 388 | 101,171 | ||||||
558,751 | ||||||||
Entertainment — 0.2% | ||||||||
Live Nation Entertainment, Inc. (a) | 210 | 17,776 | ||||||
Madison Square Garden Entertainment Corp. (a) | 117 | 9,571 | ||||||
Vail Resorts, Inc. | 120 | 34,999 | ||||||
62,346 | ||||||||
Home Builders — 2.4% | ||||||||
D.R. Horton, Inc. | 3,270 | 291,422 | ||||||
Lennar Corp. Class A | 2,967 | 300,349 | ||||||
Lennar Corp. Class B | 201 | 16,550 | ||||||
NVR, Inc. (a) | 15 | 70,664 | ||||||
PulteGroup, Inc. | 2,447 | 128,321 | ||||||
Thor Industries, Inc. (b) | 1,271 | 171,255 | ||||||
Toll Brothers, Inc. | 2,177 | 123,501 | ||||||
1,102,062 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Home Furnishing — 1.0% | ||||||||
Dolby Laboratories, Inc. Class A | 536 | $ | 52,914 | |||||
Leggett & Platt, Inc. | 411 | 18,762 | ||||||
Tempur Sealy International, Inc. | 1,790 | 65,442 | ||||||
Whirlpool Corp. | 1,460 | 321,711 | ||||||
458,829 | ||||||||
Housewares — 0.6% | ||||||||
Newell Brands, Inc. | 2,951 | 79,028 | ||||||
The Scotts Miracle-Gro Co. | 755 | 184,952 | ||||||
263,980 | ||||||||
Leisure Time — 0.5% | ||||||||
Brunswick Corp. | 706 | 67,331 | ||||||
Harley-Davidson, Inc. | 1,174 | 47,077 | ||||||
Peloton Interactive, Inc. Class A (a) | 777 | 87,366 | ||||||
Polaris, Inc. | 311 | 41,519 | ||||||
243,293 | ||||||||
Lodging — 0.2% | ||||||||
Choice Hotels International, Inc. | 91 | 9,763 | ||||||
Extended Stay America, Inc. | 643 | 12,699 | ||||||
Hilton Worldwide Holdings, Inc. | 157 | 18,984 | ||||||
MGM Resorts International | 650 | 24,694 | ||||||
Travel + Leisure Co. | 334 | 20,428 | ||||||
86,568 | ||||||||
Retail — 8.0% | ||||||||
Advance Auto Parts, Inc. | 203 | 37,248 | ||||||
AutoNation, Inc. (a) | 1,226 | 114,288 | ||||||
AutoZone, Inc. (a) | 29 | 40,725 | ||||||
Best Buy Co., Inc. | 2,674 | 307,002 | ||||||
Burlington Stores, Inc. (a) | 193 | 57,668 | ||||||
CarMax, Inc. (a) | 648 | 85,964 | ||||||
Carvana Co. (a) (b) | 226 | 59,302 | ||||||
Casey's General Stores, Inc. | 447 | 96,637 | ||||||
Chipotle Mexican Grill, Inc. (a) | 76 | 107,982 | ||||||
Costco Wholesale Corp. | 164 | 57,807 | ||||||
Darden Restaurants, Inc. | 250 | 35,500 | ||||||
Dick's Sporting Goods, Inc. (b) | 1,476 | 112,397 | ||||||
Dollar General Corp. | 551 | 111,644 | ||||||
Dollar Tree, Inc. (a) | 528 | 60,435 | ||||||
Domino's Pizza, Inc. | 235 | 86,431 | ||||||
Five Below, Inc. (a) | 301 | 57,428 | ||||||
Floor & Decor Holdings, Inc. Class A (a) | 1,045 | 99,777 | ||||||
Foot Locker, Inc. | 1,182 | 66,487 | ||||||
The Gap, Inc. (a) | 4,365 | 129,990 | ||||||
Genuine Parts Co. | 434 | 50,166 | ||||||
The Home Depot, Inc. | 62 | 18,926 | ||||||
L Brands, Inc. | 5,485 | 339,302 | ||||||
Lowe's Cos., Inc. | 424 | 80,636 | ||||||
Lululemon Athletica, Inc. (a) | 197 | 60,422 | ||||||
McDonald's Corp. | 88 | 19,724 | ||||||
MSC Industrial Direct Co., Inc. Class A | 626 | 56,459 | ||||||
Nu Skin Enterprises, Inc. Class A | 1,207 | 63,838 | ||||||
O'Reilly Automotive, Inc. (a) | 88 | 44,638 | ||||||
Ollie's Bargain Outlet Holdings, Inc. (a) | 486 | 42,282 | ||||||
Penske Automotive Group, Inc. | 540 | 43,330 | ||||||
Qurate Retail, Inc. | 9,102 | 107,040 | ||||||
Ross Stores, Inc. | 267 | 32,016 | ||||||
Starbucks Corp. | 185 | 20,215 | ||||||
Target Corp. | 794 | 157,268 | ||||||
The TJX Cos., Inc. | 542 | 35,853 | ||||||
Tractor Supply Co. | 1,179 | 208,777 | ||||||
Ulta Beauty, Inc. (a) | 238 | 73,582 | ||||||
Walmart, Inc. | 56 | 7,606 | ||||||
The Wendy's Co. | 749 | 15,175 | ||||||
Williams-Sonoma, Inc. | 1,749 | 313,421 | ||||||
Yum China Holdings, Inc. | 1,650 | 97,696 | ||||||
Yum! Brands, Inc. | 387 | 41,866 | ||||||
3,654,950 | ||||||||
Textiles — 0.1% | ||||||||
Mohawk Industries, Inc. (a) | 270 | 51,924 | ||||||
Toys, Games & Hobbies — 0.1% | ||||||||
Hasbro, Inc. | 215 | 20,666 | ||||||
Mattel, Inc. (a) | 1,685 | 33,565 | ||||||
54,231 | ||||||||
7,628,593 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Consumer, Non-cyclical — 21.7% | ||||||||
Agriculture — 0.3% | ||||||||
Archer-Daniels-Midland Co. | 1,694 | $ | 96,558 | |||||
Bunge Ltd. | 280 | 22,195 | ||||||
Philip Morris International, Inc. | 231 | 20,499 | ||||||
139,252 | ||||||||
Beverages — 0.6% | ||||||||
The Boston Beer Co., Inc. Class A (a) | 81 | 97,709 | ||||||
Brown-Forman Corp. Class B | 234 | 16,139 | ||||||
Constellation Brands, Inc. Class A | 170 | 38,760 | ||||||
Keurig Dr Pepper, Inc. | 425 | 14,607 | ||||||
Molson Coors Beverage Co. Class B | 333 | 17,033 | ||||||
Monster Beverage Corp. (a) | 566 | 51,557 | ||||||
PepsiCo, Inc. | 98 | 13,862 | ||||||
249,667 | ||||||||
Biotechnology — 1.9% | ||||||||
ACADIA Pharmaceuticals, Inc. (a) | 168 | 4,334 | ||||||
Acceleron Pharma, Inc. (a) | 268 | 36,343 | ||||||
Alexion Pharmaceuticals, Inc. (a) | 683 | 104,438 | ||||||
Amgen, Inc. | 63 | 15,675 | ||||||
Bio-Rad Laboratories, Inc. Class A (a) | 338 | 193,055 | ||||||
Biogen, Inc. (a) | 98 | 27,416 | ||||||
Corteva, Inc. | 1,925 | 89,743 | ||||||
Exact Sciences Corp. (a) | 200 | 26,356 | ||||||
Exelixis, Inc. (a) | 1,462 | 33,027 | ||||||
Gilead Sciences, Inc. | 436 | 28,179 | ||||||
Guardant Health, Inc. (a) | 255 | 38,926 | ||||||
Illumina, Inc. (a) | 33 | 12,674 | ||||||
Incyte Corp. (a) | 134 | 10,890 | ||||||
Iovance Biotherapeutics, Inc. (a) | 226 | 7,155 | ||||||
Moderna, Inc. (a) | 255 | 33,392 | ||||||
Regeneron Pharmaceuticals, Inc. (a) | 185 | 87,531 | ||||||
Royalty Pharma PLC Class A (b) | 680 | 29,662 | ||||||
Seagen, Inc. (a) | 223 | 30,966 | ||||||
United Therapeutics Corp. (a) | 215 | 35,963 | ||||||
Vertex Pharmaceuticals, Inc. (a) | 64 | 13,753 | ||||||
859,478 | ||||||||
Commercial Services — 4.5% | ||||||||
ADT, Inc. (b) | 1,080 | 9,115 | ||||||
AMERCO | 68 | 41,657 | ||||||
Automatic Data Processing, Inc. | 129 | 24,313 | ||||||
Avalara, Inc. (a) | 420 | 56,041 | ||||||
Booz Allen Hamilton Holding Corp. | 1,126 | 90,677 | ||||||
Bright Horizons Family Solutions, Inc. (a) | 177 | 30,347 | ||||||
Chegg, Inc. (a) | 834 | 71,440 | ||||||
Cintas Corp. | 211 | 72,016 | ||||||
CoreLogic, Inc. | 1,313 | 104,055 | ||||||
CoStar Group, Inc. (a) | 80 | 65,751 | ||||||
Equifax, Inc. | 220 | 39,849 | ||||||
FleetCor Technologies, Inc. (a) | 49 | 13,163 | ||||||
FTI Consulting, Inc. (a) | 128 | 17,934 | ||||||
Gartner, Inc. (a) | 162 | 29,573 | ||||||
Global Payments, Inc. | 91 | 18,344 | ||||||
Grand Canyon Education, Inc. (a) | 110 | 11,781 | ||||||
IHS Markit Ltd. | 485 | 46,938 | ||||||
ManpowerGroup, Inc. | 300 | 29,670 | ||||||
MarketAxess Holdings, Inc. | 130 | 64,729 | ||||||
Moody's Corp. | 129 | 38,521 | ||||||
Morningstar, Inc. | 158 | 35,556 | ||||||
Paylocity Holding Corp. (a) | 236 | 42,440 | ||||||
PayPal Holdings, Inc. (a) | 102 | 24,770 | ||||||
Quanta Services, Inc. | 3,270 | 287,694 | ||||||
Robert Half International, Inc. | 602 | 46,998 | ||||||
Rollins, Inc. | 1,254 | 43,163 | ||||||
S&P Global, Inc. | 127 | 44,814 | ||||||
Service Corp. International | 932 | 47,579 | ||||||
Square, Inc. Class A (a) | 272 | 61,757 | ||||||
StoneCo Ltd. Class A (a) | 785 | 48,058 | ||||||
Terminix Global Holdings, Inc. (a) | 1,244 | 59,301 | ||||||
TransUnion | 436 | 39,240 | ||||||
United Rentals, Inc. (a) | 1,045 | 344,129 | ||||||
Verisk Analytics, Inc. | 369 | 65,199 | ||||||
2,066,612 | ||||||||
Cosmetics & Personal Care — 0.3% | ||||||||
Colgate-Palmolive Co. | 760 | 59,911 | ||||||
The Estee Lauder Cos., Inc. Class A | 192 | 55,843 | ||||||
115,754 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Food — 2.3% | ||||||||
Albertsons Cos., Inc. Class A (b) | 622 | $ | 11,861 | |||||
Beyond Meat, Inc. (a) (b) | 324 | 42,159 | ||||||
Campbell Soup Co. | 714 | 35,893 | ||||||
Conagra Brands, Inc. | 1,954 | 73,470 | ||||||
Flowers Foods, Inc. | 1,420 | 33,796 | ||||||
General Mills, Inc. | 2,119 | 129,937 | ||||||
Grocery Outlet Holding Corp. (a) | 621 | 22,909 | ||||||
The Hain Celestial Group, Inc. (a) | 1,263 | 55,067 | ||||||
The Hershey Co. | 273 | 43,178 | ||||||
Hormel Foods Corp. | 751 | 35,883 | ||||||
Ingredion, Inc. | 252 | 22,660 | ||||||
The J.M. Smucker Co. | 884 | 111,852 | ||||||
Kellogg Co. | 448 | 28,358 | ||||||
The Kraft Heinz Co. | 1,063 | 42,520 | ||||||
The Kroger Co. | 5,537 | 199,277 | ||||||
Lamb Weston Holdings, Inc. | 125 | 9,685 | ||||||
McCormick & Co., Inc. | 495 | 44,134 | ||||||
Mondelez International, Inc. Class A | 586 | 34,299 | ||||||
Post Holdings, Inc. (a) | 106 | 11,206 | ||||||
Sprouts Farmers Market, Inc. (a) | 1,411 | 37,561 | ||||||
Sysco Corp. | 282 | 22,205 | ||||||
US Foods Holding Corp. (a) | 263 | 10,025 | ||||||
1,057,935 | ||||||||
Health Care – Products — 4.3% | ||||||||
10X Genomics, Inc. Class A (a) | 316 | 57,196 | ||||||
Abbott Laboratories | 217 | 26,005 | ||||||
ABIOMED, Inc. (a) | 348 | 110,918 | ||||||
Adaptive Biotechnologies Corp. (a) | 459 | 18,479 | ||||||
Align Technology, Inc. (a) | 199 | 107,765 | ||||||
Avantor, Inc. (a) | 2,423 | 70,097 | ||||||
Baxter International, Inc. | 273 | 23,025 | ||||||
Bio-Techne Corp. | 213 | 81,351 | ||||||
Bruker Corp. | 233 | 14,977 | ||||||
The Cooper Cos., Inc. | 83 | 31,880 | ||||||
Danaher Corp. | 154 | 34,662 | ||||||
Dentsply Sirona, Inc. | 253 | 16,144 | ||||||
Edwards Lifesciences Corp. (a) | 305 | 25,510 | ||||||
Envista Holdings Corp. (a) | 1,007 | 41,086 | ||||||
Globus Medical, Inc. Class A (a) | 171 | 10,546 | ||||||
Haemonetics Corp. (a) | 102 | 11,323 | ||||||
Hill-Rom Holdings, Inc. | 120 | 13,258 | ||||||
Hologic, Inc. (a) | 1,934 | 143,851 | ||||||
ICU Medical, Inc. (a) | 62 | 12,737 | ||||||
IDEXX Laboratories, Inc. (a) | 206 | 100,798 | ||||||
Insulet Corp. (a) | 260 | 67,839 | ||||||
Intuitive Surgical, Inc. (a) | 47 | 34,730 | ||||||
Masimo Corp. (a) | 299 | 68,668 | ||||||
Medtronic PLC | 98 | 11,577 | ||||||
Novocure Ltd. (a) | 447 | 59,084 | ||||||
Penumbra, Inc. (a) | 241 | 65,210 | ||||||
PerkinElmer, Inc. | 579 | 74,280 | ||||||
QIAGEN NV (a) | 596 | 29,019 | ||||||
Quidel Corp. (a) | 352 | 45,031 | ||||||
Repligen Corp. (a) | 366 | 71,154 | ||||||
ResMed, Inc. | 390 | 75,668 | ||||||
Steris PLC | 436 | 83,049 | ||||||
Stryker Corp. | 110 | 26,794 | ||||||
Tandem Diabetes Care, Inc. (a) | 416 | 36,712 | ||||||
Teleflex, Inc. | 58 | 24,097 | ||||||
Thermo Fisher Scientific, Inc. | 63 | 28,752 | ||||||
Varian Medical Systems, Inc. (a) | 336 | 59,314 | ||||||
West Pharmaceutical Services, Inc. | 406 | 114,403 | ||||||
Zimmer Biomet Holdings, Inc. | 197 | 31,536 | ||||||
1,958,525 | ||||||||
Health Care – Services — 4.2% | ||||||||
Acadia Healthcare Co., Inc. (a) | 1,867 | 106,680 | ||||||
Amedisys, Inc. (a) | 322 | 85,262 | ||||||
Anthem, Inc. | 191 | 68,559 | ||||||
Catalent, Inc. (a) | 1,301 | 137,008 | ||||||
Centene Corp. (a) | 1,378 | 88,068 | ||||||
Charles River Laboratories International, Inc. (a) | 494 | 143,176 | ||||||
Chemed Corp. | 78 | 35,866 | ||||||
DaVita, Inc. (a) | 1,824 | 196,573 | ||||||
Encompass Health Corp. | 914 | 74,857 | ||||||
HCA Healthcare, Inc. | 372 | 70,062 | ||||||
Humana, Inc. | 274 | 114,875 | ||||||
IQVIA Holdings, Inc. (a) | 241 | 46,547 | ||||||
Laboratory Corp. of America Holdings (a) | 611 | 155,823 | ||||||
Molina Healthcare, Inc. (a) | 1,406 | 328,667 | ||||||
PPD, Inc. (a) | 444 | 16,801 | ||||||
Quest Diagnostics, Inc. | 879 | 112,811 | ||||||
Syneos Health, Inc. (a) | 490 | 37,167 | ||||||
Teladoc Health, Inc. (a) (b) | 288 | 52,344 | ||||||
UnitedHealth Group, Inc. | 49 | 18,231 | ||||||
Universal Health Services, Inc. Class B | 261 | 34,815 | ||||||
1,924,192 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Household Products & Wares — 0.8% | ||||||||
Avery Dennison Corp. | 452 | $ | 83,010 | |||||
Church & Dwight Co., Inc. | 870 | 75,994 | ||||||
The Clorox Co. | 674 | 130,001 | ||||||
Kimberly-Clark Corp. | 319 | 44,357 | ||||||
Reynolds Consumer Products, Inc. | 320 | 9,530 | ||||||
Spectrum Brands Holdings, Inc. | 498 | 42,330 | ||||||
385,222 | ||||||||
Pharmaceuticals — 2.5% | ||||||||
AbbVie, Inc. | 271 | 29,328 | ||||||
AmerisourceBergen Corp. | 861 | 101,658 | ||||||
Becton Dickinson and Co. | 34 | 8,267 | ||||||
Bristol-Myers Squibb Co. | 202 | 12,752 | ||||||
Cardinal Health, Inc. | 1,192 | 72,414 | ||||||
Cigna Corp. | 308 | 74,456 | ||||||
CVS Health Corp. | 538 | 40,474 | ||||||
DexCom, Inc. (a) | 211 | 75,831 | ||||||
Elanco Animal Health, Inc. (a) | 606 | 17,847 | ||||||
Eli Lilly and Co. | 163 | 30,452 | ||||||
Henry Schein, Inc. (a) | 647 | 44,798 | ||||||
Herbalife Nutrition Ltd. (a) | 529 | 23,466 | ||||||
Horizon Therapeutics PLC (a) | 1,862 | 171,378 | ||||||
Jazz Pharmaceuticals PLC (a) | 180 | 29,587 | ||||||
McKesson Corp. | 1,422 | 277,347 | ||||||
Perrigo Co. PLC | 297 | 12,020 | ||||||
Pfizer, Inc. | 372 | 13,478 | ||||||
PRA Health Sciences, Inc. (a) | 230 | 35,266 | ||||||
Premier, Inc. Class A | 259 | 8,767 | ||||||
Viatris, Inc. (a) | 976 | 13,635 | ||||||
Zoetis, Inc. | 272 | 42,834 | ||||||
1,136,055 | ||||||||
9,892,692 | ||||||||
Energy — 1.1% | ||||||||
Energy – Alternate Sources — 0.5% | ||||||||
Enphase Energy, Inc. (a) | 578 | 93,729 | ||||||
First Solar, Inc. (a) | 627 | 54,737 | ||||||
SolarEdge Technologies, Inc. (a) | 360 | 103,478 | ||||||
251,944 | ||||||||
Oil & Gas — 0.4% | ||||||||
Cabot Oil & Gas Corp. | 2,899 | 54,443 | ||||||
EQT Corp. | 6,572 | 122,108 | ||||||
176,551 | ||||||||
Oil & Gas Services — 0.0% | ||||||||
Baker Hughes Co. | 504 | 10,891 | ||||||
Pipelines — 0.2% | ||||||||
Antero Midstream Corp. | 1,445 | 13,048 | ||||||
Cheniere Energy, Inc. (a) | 459 | 33,053 | ||||||
The Williams Cos., Inc. | 1,513 | 35,843 | ||||||
81,944 | ||||||||
521,330 | ||||||||
Financial — 12.4% | ||||||||
Banks — 2.6% | ||||||||
The Bank of New York Mellon Corp. | 271 | 12,816 | ||||||
Bank OZK | 690 | 28,186 | ||||||
Citizens Financial Group, Inc. | 775 | 34,216 | ||||||
Comerica, Inc. | 182 | 13,057 | ||||||
Commerce Bancshares, Inc. | 432 | 33,095 | ||||||
Cullen/Frost Bankers, Inc. | 154 | 16,749 | ||||||
East West Bancorp, Inc. | 556 | 41,033 | ||||||
Fifth Third Bancorp | 1,124 | 42,094 | ||||||
First Citizens BancShares, Inc. Class A | 49 | 40,953 | ||||||
First Republic Bank | 413 | 68,868 | ||||||
The Goldman Sachs Group, Inc. | 257 | 84,039 | ||||||
Huntington Bancshares, Inc. | 1,488 | 23,391 | ||||||
KeyCorp | 1,096 | 21,898 | ||||||
M&T Bank Corp. | 80 | 12,129 | ||||||
Morgan Stanley | 1,812 | 140,720 | ||||||
Northern Trust Corp. | 288 | 30,272 | ||||||
Pinnacle Financial Partners, Inc. | 203 | 17,998 | ||||||
The PNC Financial Services Group, Inc. | 138 | 24,207 | ||||||
Popular, Inc. | 336 | 23,627 | ||||||
Prosperity Bancshares, Inc. | 144 | 10,784 | ||||||
Regions Financial Corp. | 2,680 | 55,369 | ||||||
Signature Bank | 83 | 18,766 | ||||||
State Street Corp. | 570 | 47,886 | ||||||
SVB Financial Group (a) | 513 | 253,248 | ||||||
Synovus Financial Corp. | 436 | 19,947 | ||||||
Truist Financial Corp. | 214 | 12,480 | ||||||
Western Alliance Bancorp | 527 | 49,770 | ||||||
Zions Bancorp NA | 236 | 12,970 | ||||||
1,190,568 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Diversified Financial Services — 3.5% | ||||||||
Affiliated Managers Group, Inc. | 362 | $ | 53,949 | |||||
Air Lease Corp. | 247 | 12,103 | ||||||
Ally Financial, Inc. | 2,254 | 101,903 | ||||||
American Express Co. | 156 | 22,065 | ||||||
Ameriprise Financial, Inc. | 591 | 137,378 | ||||||
Apollo Global Management, Inc. | 547 | 25,714 | ||||||
BlackRock, Inc. | 85 | 64,087 | ||||||
Capital One Financial Corp. | 299 | 38,042 | ||||||
The Charles Schwab Corp. | 391 | 25,485 | ||||||
Discover Financial Services | 593 | 56,329 | ||||||
Evercore, Inc. Class A | 738 | 97,224 | ||||||
Franklin Resources, Inc. | 426 | 12,610 | ||||||
Interactive Brokers Group, Inc. Class A | 1,245 | 90,935 | ||||||
Intercontinental Exchange, Inc. | 336 | 37,524 | ||||||
Invesco Ltd. | 1,726 | 43,530 | ||||||
Jefferies Financial Group, Inc. | 3,715 | 111,821 | ||||||
Lazard Ltd. Class A | 881 | 38,332 | ||||||
LPL Financial Holdings, Inc. | 436 | 61,982 | ||||||
Nasdaq, Inc. | 396 | 58,394 | ||||||
OneMain Holdings, Inc. | 665 | 35,724 | ||||||
Raymond James Financial, Inc. | 751 | 92,043 | ||||||
Rocket Cos., Inc. Class A (b) | 1,846 | 42,624 | ||||||
Santander Consumer USA Holdings, Inc. | 547 | 14,802 | ||||||
SLM Corp. | 6,373 | 114,523 | ||||||
Synchrony Financial | 942 | 38,302 | ||||||
T. Rowe Price Group, Inc. | 517 | 88,717 | ||||||
Tradeweb Markets, Inc. Class A | 804 | 59,496 | ||||||
Virtu Financial, Inc. Class A | 626 | 19,437 | ||||||
The Western Union Co. | 537 | 13,242 | ||||||
1,608,317 | ||||||||
Insurance — 3.6% | ||||||||
Aflac, Inc. | 697 | 35,672 | ||||||
Alleghany Corp. (a) | 17 | 10,647 | ||||||
The Allstate Corp. | 524 | 60,208 | ||||||
American Financial Group, Inc. | 197 | 22,478 | ||||||
American International Group, Inc. | 380 | 17,560 | ||||||
Aon PLC Class A | 100 | 23,011 | ||||||
Arch Capital Group Ltd. (a) | 535 | 20,528 | ||||||
Arthur J Gallagher & Co. | 764 | 95,324 | ||||||
Assurant, Inc. | 548 | 77,690 | ||||||
Athene Holding Ltd. Class A (a) | 498 | 25,099 | ||||||
Axis Capital Holdings Ltd. | 283 | 14,028 | ||||||
Berkshire Hathaway, Inc. Class B (a) | 68 | 17,372 | ||||||
Brighthouse Financial, Inc. (a) | 274 | 12,125 | ||||||
Brown & Brown, Inc. | 1,122 | 51,287 | ||||||
Chubb Ltd. | 265 | 41,862 | ||||||
Cincinnati Financial Corp. | 164 | 16,907 | ||||||
Erie Indemnity Co. Class A | 236 | 52,135 | ||||||
Everest Re Group Ltd. | 111 | 27,507 | ||||||
Fidelity National Financial, Inc. | 482 | 19,598 | ||||||
First American Financial Corp. | 472 | 26,739 | ||||||
Globe Life, Inc. | 270 | 26,090 | ||||||
The Hanover Insurance Group, Inc. | 137 | 17,736 | ||||||
The Hartford Financial Services Group, Inc. | 393 | 26,248 | ||||||
Kemper Corp. | 430 | 34,280 | ||||||
Lincoln National Corp. | 174 | 10,835 | ||||||
Loews Corp. | 453 | 23,230 | ||||||
Markel Corp. (a) | 31 | 35,328 | ||||||
Marsh & McLennan Cos., Inc. | 252 | 30,694 | ||||||
Mercury General Corp. | 270 | 16,419 | ||||||
MetLife, Inc. | 1,105 | 67,173 | ||||||
MGIC Investment Corp. | 1,148 | 15,900 | ||||||
Old Republic International Corp. | 954 | 20,835 | ||||||
Primerica, Inc. | 204 | 30,155 | ||||||
Principal Financial Group, Inc. | 1,076 | 64,517 | ||||||
The Progressive Corp. | 2,728 | 260,824 | ||||||
Prudential Financial, Inc. | 432 | 39,355 | ||||||
Reinsurance Group of America, Inc. | 73 | 9,202 | ||||||
RenaissanceRe Holdings Ltd. | 169 | 27,082 | ||||||
The Travelers Cos., Inc. | 641 | 96,406 | ||||||
Unum Group | 434 | 12,078 | ||||||
Voya Financial, Inc. | 471 | 29,974 | ||||||
W.R. Berkley Corp. | 475 | 35,791 | ||||||
Willis Towers Watson PLC | 149 | 34,103 | ||||||
1,632,032 | ||||||||
Private Equity — 0.1% | ||||||||
KKR & Co., Inc. | 1,007 | 49,192 | ||||||
Real Estate — 0.2% | ||||||||
CBRE Group, Inc. Class A (a) | 878 | 69,458 | ||||||
Jones Lang LaSalle, Inc. (a) | 75 | 13,428 | ||||||
82,886 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Real Estate Investment Trusts (REITS) — 2.4% | ||||||||
AGNC Investment Corp. | 2,041 | $ | 34,207 | |||||
Alexandria Real Estate Equities, Inc. | 165 | 27,109 | ||||||
American Campus Communities, Inc. | 247 | 10,663 | ||||||
American Homes 4 Rent Class A | 917 | 30,573 | ||||||
American Tower Corp. | 67 | 16,017 | ||||||
Americold Realty Trust (b) | 505 | 19,427 | ||||||
Apartment Income REIT Corp. | 213 | 9,108 | ||||||
Apartment Investment and Management Co. Class A | 213 | 1,308 | ||||||
AvalonBay Communities, Inc. | 70 | 12,916 | ||||||
Camden Property Trust | 173 | 19,014 | ||||||
CoreSite Realty Corp. | 215 | 25,768 | ||||||
Corporate Office Properties Trust | 453 | 11,927 | ||||||
Crown Castle International Corp. | 215 | 37,008 | ||||||
CubeSmart | 818 | 30,945 | ||||||
CyrusOne, Inc. | 407 | 27,562 | ||||||
Digital Realty Trust, Inc. | 427 | 60,139 | ||||||
Duke Realty Corp. | 1,208 | 50,651 | ||||||
Equinix, Inc. | 70 | 47,571 | ||||||
Equity Commonwealth | 516 | 14,345 | ||||||
Equity LifeStyle Properties, Inc. | 163 | 10,373 | ||||||
Equity Residential | 138 | 9,885 | ||||||
Essex Property Trust, Inc. | 56 | 15,223 | ||||||
Extra Space Storage, Inc. | 363 | 48,116 | ||||||
First Industrial Realty Trust, Inc. | 499 | 22,849 | ||||||
Gaming and Leisure Properties, Inc. | 730 | 30,974 | ||||||
Healthcare Trust of America, Inc. Class A | 331 | 9,129 | ||||||
Healthpeak Properties, Inc. | 554 | 17,584 | ||||||
Host Hotels & Resorts, Inc. | 870 | 14,659 | ||||||
Invitation Homes, Inc. | 620 | 19,834 | ||||||
Iron Mountain, Inc. | 553 | 20,467 | ||||||
Lamar Advertising Co. Class A | 160 | 15,027 | ||||||
Life Storage, Inc. | 354 | 30,426 | ||||||
Medical Properties Trust, Inc. | 1,016 | 21,620 | ||||||
Mid-America Apartment Communities, Inc. | 197 | 28,439 | ||||||
Omega Healthcare Investors, Inc. | 317 | 11,612 | ||||||
Prologis, Inc. | 330 | 34,980 | ||||||
Public Storage | 157 | 38,741 | ||||||
Realty Income Corp. | 174 | 11,049 | ||||||
Rexford Industrial Realty, Inc. | 354 | 17,842 | ||||||
SBA Communications Corp. | 154 | 42,743 | ||||||
STORE Capital Corp. | 320 | 10,720 | ||||||
Sun Communities, Inc. | 101 | 15,154 | ||||||
UDR, Inc. | 259 | 11,360 | ||||||
Ventas, Inc. | 385 | 20,536 | ||||||
VICI Properties, Inc. (b) | 1,561 | 44,083 | ||||||
Welltower, Inc. | 155 | 11,103 | ||||||
Weyerhaeuser Co. | 650 | 23,140 | ||||||
WP Carey, Inc. | 243 | 17,195 | ||||||
1,111,121 | ||||||||
Savings & Loans — 0.0% | ||||||||
New York Community Bancorp, Inc. | 872 | 11,005 | ||||||
5,685,121 | ||||||||
Industrial — 17.8% | ||||||||
Aerospace & Defense — 0.6% | ||||||||
General Dynamics Corp. | 143 | 25,963 | ||||||
HEICO Corp. | 90 | 11,322 | ||||||
HEICO Corp. Class A | 301 | 34,194 | ||||||
Howmet Aerospace, Inc. | 1,374 | 44,147 | ||||||
L3 Harris Technologies, Inc. | 146 | 29,591 | ||||||
Lockheed Martin Corp. | 61 | 22,539 | ||||||
Northrop Grumman Corp. | 75 | 24,273 | ||||||
Teledyne Technologies, Inc. (a) | 111 | 45,915 | ||||||
TransDigm Group, Inc. (a) | 43 | 25,281 | ||||||
263,225 | ||||||||
Building Materials — 1.8% | ||||||||
Carrier Global Corp. | 2,084 | 87,986 | ||||||
Eagle Materials, Inc. | 207 | 27,823 | ||||||
Fortune Brands Home & Security, Inc. | 1,428 | 136,831 | ||||||
Johnson Controls International PLC | 1,614 | 96,307 | ||||||
Lennox International, Inc. | 222 | 69,173 | ||||||
Martin Marietta Materials, Inc. | 108 | 36,269 | ||||||
Masco Corp. | 1,653 | 99,015 | ||||||
MDU Resources Group, Inc. | 569 | 17,986 | ||||||
Owens Corning | 1,101 | 101,391 | ||||||
Trex Co., Inc. (a) | 1,059 | 96,941 | ||||||
Vulcan Materials Co. | 212 | 35,775 | ||||||
805,497 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Electrical Components & Equipment — 0.8% | ||||||||
AMETEK, Inc. | 532 | $ | 67,952 | |||||
Emerson Electric Co. | 538 | 48,538 | ||||||
Generac Holdings, Inc. (a) | 540 | 176,823 | ||||||
Littelfuse, Inc. | 176 | 46,542 | ||||||
Universal Display Corp. | 97 | 22,967 | ||||||
362,822 | ||||||||
Electronics — 2.2% | ||||||||
Agilent Technologies, Inc. | 632 | 80,352 | ||||||
Allegion PLC | 138 | 17,335 | ||||||
Amphenol Corp. Class A | 1,002 | 66,102 | ||||||
Arrow Electronics, Inc. (a) | 752 | 83,337 | ||||||
Fortive Corp. | 745 | 52,627 | ||||||
Garmin Ltd. | 448 | 59,069 | ||||||
Honeywell International, Inc. | 151 | 32,777 | ||||||
Hubbell, Inc. | 312 | 58,310 | ||||||
Jabil, Inc. | 823 | 42,928 | ||||||
Keysight Technologies, Inc. (a) | 412 | 59,081 | ||||||
Mettler-Toledo International, Inc. (a) | 78 | 90,144 | ||||||
nVent Electric PLC | 421 | 11,750 | ||||||
Sensata Technologies Holding PLC (a) | 322 | 18,660 | ||||||
SYNNEX Corp. | 994 | 114,151 | ||||||
Trimble, Inc. (a) | 1,790 | 139,244 | ||||||
Vontier Corp. (a) | 1,141 | 34,538 | ||||||
Waters Corp. (a) | 94 | 26,712 | ||||||
Woodward, Inc. | 107 | 12,907 | ||||||
1,000,024 | ||||||||
Engineering & Construction — 0.5% | ||||||||
AECOM (a) | 1,416 | 90,780 | ||||||
frontdoor, Inc. (a) | 306 | 16,447 | ||||||
Jacobs Engineering Group, Inc. | 917 | 118,541 | ||||||
225,768 | ||||||||
Environmental Controls — 0.4% | ||||||||
Clean Harbors, Inc. (a) | 115 | 9,667 | ||||||
Pentair PLC | 1,120 | 69,798 | ||||||
Republic Services, Inc. | 505 | 50,172 | ||||||
Stericycle, Inc. (a) | 254 | 17,147 | ||||||
Waste Management, Inc. | 430 | 55,479 | ||||||
202,263 | ||||||||
Hand & Machine Tools — 0.8% | ||||||||
Lincoln Electric Holdings, Inc. | 506 | 62,208 | ||||||
MSA Safety, Inc. | 178 | 26,703 | ||||||
Regal Beloit Corp. | 969 | 138,257 | ||||||
Snap-on, Inc. | 284 | 65,530 | ||||||
Stanley Black & Decker, Inc. | 380 | 75,875 | ||||||
368,573 | ||||||||
Machinery – Construction & Mining — 0.5% | ||||||||
BWX Technologies, Inc. | 180 | 11,869 | ||||||
Caterpillar, Inc. | 463 | 107,356 | ||||||
Oshkosh Corp. | 198 | 23,495 | ||||||
Vertiv Holdings Co. | 5,245 | 104,900 | ||||||
247,620 | ||||||||
Machinery – Diversified — 2.3% | ||||||||
AGCO Corp. | 902 | 129,572 | ||||||
Cognex Corp. | 671 | 55,686 | ||||||
Deere & Co. | 509 | 190,437 | ||||||
Dover Corp. | 456 | 62,531 | ||||||
Graco, Inc. | 1,110 | 79,498 | ||||||
IDEX Corp. | 241 | 50,446 | ||||||
Ingersoll Rand, Inc. (a) | 809 | 39,811 | ||||||
The Middleby Corp. (a) | 495 | 82,046 | ||||||
Nordson Corp. | 291 | 57,816 | ||||||
Otis Worldwide Corp. | 852 | 58,320 | ||||||
Rockwell Automation, Inc. | 302 | 80,163 | ||||||
The Toro Co. | 499 | 51,467 | ||||||
Westinghouse Air Brake Technologies Corp. | 331 | 26,202 | ||||||
Xylem, Inc. | 755 | 79,411 | ||||||
1,043,406 | ||||||||
Metal Fabricate & Hardware — 0.3% | ||||||||
The Timken Co. | 1,395 | 113,232 | ||||||
Valmont Industries, Inc. | 202 | 48,010 | ||||||
161,242 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Miscellaneous - Manufacturing — 2.0% | ||||||||
3M Co. | 152 | $ | 29,287 | |||||
A.O. Smith Corp. | 1,230 | 83,160 | ||||||
Axon Enterprise, Inc. (a) | 456 | 64,943 | ||||||
Carlisle Cos., Inc. | 162 | 26,662 | ||||||
Donaldson Co., Inc. | 324 | 18,844 | ||||||
Eaton Corp. PLC | 1,031 | 142,567 | ||||||
General Electric Co. | 1,716 | 22,531 | ||||||
Illinois Tool Works, Inc. | 233 | 51,614 | ||||||
ITT, Inc. | 334 | 30,364 | ||||||
Parker-Hannifin Corp. | 472 | 148,883 | ||||||
Textron, Inc. | 1,325 | 74,306 | ||||||
Trane Technologies PLC | 1,176 | 194,699 | ||||||
Trinity Industries, Inc. | 761 | 21,681 | ||||||
909,541 | ||||||||
Packaging & Containers — 2.1% | ||||||||
Amcor PLC | 9,029 | 105,459 | ||||||
AptarGroup, Inc. | 365 | 51,709 | ||||||
Ball Corp. | 1,490 | 126,263 | ||||||
Berry Global Group, Inc. (a) | 2,104 | 129,186 | ||||||
Crown Holdings, Inc. | 1,948 | 189,034 | ||||||
Graphic Packaging Holding Co. | 1,816 | 32,978 | ||||||
Packaging Corp. of America | 836 | 112,425 | ||||||
Sealed Air Corp. | 1,283 | 58,787 | ||||||
Silgan Holdings, Inc. | 1,222 | 51,361 | ||||||
Sonoco Products Co. | 447 | 28,295 | ||||||
WestRock Co. | 1,486 | 77,346 | ||||||
962,843 | ||||||||
Transportation — 3.5% | ||||||||
C.H. Robinson Worldwide, Inc. | 1,583 | 151,066 | ||||||
CSX Corp. | 924 | 89,092 | ||||||
Expeditors International of Washington, Inc. | 929 | 100,044 | ||||||
FedEx Corp. | 719 | 204,225 | ||||||
J.B. Hunt Transport Services, Inc. | 533 | 89,581 | ||||||
Kansas City Southern | 417 | 110,055 | ||||||
Knight-Swift Transportation Holdings, Inc. | 1,584 | 76,174 | ||||||
Landstar System, Inc. | 464 | 76,588 | ||||||
Norfolk Southern Corp. | 356 | 95,593 | ||||||
Old Dominion Freight Line, Inc. | 585 | 140,640 | ||||||
Ryder System, Inc. | 916 | 69,295 | ||||||
Schneider National, Inc. Class B | 935 | 23,347 | ||||||
Union Pacific Corp. | 143 | 31,519 | ||||||
United Parcel Service, Inc. Class B | 487 | 82,785 | ||||||
XPO Logistics, Inc. (a) | 1,947 | 240,065 | ||||||
1,580,069 | ||||||||
8,132,893 | ||||||||
Technology — 14.9% | ||||||||
Computers — 3.1% | ||||||||
Accenture PLC Class A | 105 | 29,006 | ||||||
Amdocs Ltd. | 328 | 23,009 | ||||||
Apple, Inc. | 444 | 54,235 | ||||||
CACI International, Inc. Class A (a) | 121 | 29,846 | ||||||
Cognizant Technology Solutions Corp. Class A | 1,342 | 104,837 | ||||||
Crowdstrike Holdings, Inc. Class A (a) (b) | 425 | 77,567 | ||||||
Dell Technologies C (a) | 5,150 | 453,972 | ||||||
EPAM Systems, Inc. (a) | 311 | 123,371 | ||||||
Fortinet, Inc. (a) | 256 | 47,211 | ||||||
Genpact Ltd. | 532 | 22,780 | ||||||
Globant SA (a) | 357 | 74,117 | ||||||
HP, Inc. | 4,808 | 152,654 | ||||||
International Business Machines Corp. | 193 | 25,719 | ||||||
Leidos Holdings, Inc. | 584 | 56,227 | ||||||
Lumentum Holdings, Inc. (a) | 342 | 31,242 | ||||||
NetApp, Inc. | 407 | 29,577 | ||||||
Pure Storage, Inc. Class A (a) | 703 | 15,143 | ||||||
Science Applications International Corp. | 535 | 44,721 | ||||||
Zscaler, Inc. (a) | 273 | 46,866 | ||||||
1,442,100 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Office & Business Equipment — 0.3% | ||||||||
Zebra Technologies Corp. Class A (a) | 282 | $ | 136,821 | |||||
Semiconductors — 4.5% | ||||||||
Advanced Micro Devices, Inc. (a) | 533 | 41,840 | ||||||
Analog Devices, Inc. | 312 | 48,385 | ||||||
Applied Materials, Inc. | 942 | 125,851 | ||||||
Broadcom, Inc. | 71 | 32,920 | ||||||
Cirrus Logic, Inc. (a) | 173 | 14,669 | ||||||
Cree, Inc. (a) | 558 | 60,337 | ||||||
Entegris, Inc. | 1,307 | 146,123 | ||||||
Inphi Corp. (a) | 353 | 62,979 | ||||||
IPG Photonics Corp. (a) | 247 | 52,102 | ||||||
KLA Corp. | 450 | 148,680 | ||||||
Lam Research Corp. | 227 | 135,119 | ||||||
Marvell Technology Group Ltd. | 3,322 | 162,712 | ||||||
Maxim Integrated Products, Inc. | 1,106 | 101,055 | ||||||
Microchip Technology, Inc. | 530 | 82,267 | ||||||
Micron Technology, Inc. (a) | 1,003 | 88,475 | ||||||
MKS Instruments, Inc. | 279 | 51,732 | ||||||
Monolithic Power Systems, Inc. | 274 | 96,780 | ||||||
NVIDIA Corp. | 27 | 14,416 | ||||||
ON Semiconductor Corp. (a) | 2,086 | 86,798 | ||||||
Qorvo, Inc. (a) | 512 | 93,542 | ||||||
QUALCOMM, Inc. | 385 | 51,047 | ||||||
Skyworks Solutions, Inc. | 524 | 96,143 | ||||||
Teradyne, Inc. | 1,107 | 134,700 | ||||||
Texas Instruments, Inc. | 209 | 39,499 | ||||||
Xilinx, Inc. | 617 | 76,446 | ||||||
2,044,617 | ||||||||
Software — 7.0% | ||||||||
Activision Blizzard, Inc. | 784 | 72,912 | ||||||
Adobe, Inc. (a) | 39 | 18,539 | ||||||
Akamai Technologies, Inc. (a) | 652 | 66,439 | ||||||
Alteryx, Inc. Class A (a) | 158 | 13,108 | ||||||
ANSYS, Inc. (a) | 147 | 49,915 | ||||||
Aspen Technology, Inc. (a) | 191 | 27,567 | ||||||
Atlassian Corp. PLC Class A (a) | 340 | 71,658 | ||||||
Autodesk, Inc. (a) | 203 | 56,261 | ||||||
Bill.com Holdings, Inc. (a) | 425 | 61,838 | ||||||
Black Knight, Inc. (a) | 809 | 59,858 | ||||||
Broadridge Financial Solutions, Inc. | 435 | 66,599 | ||||||
Cadence Design Systems, Inc. (a) | 1,060 | 145,209 | ||||||
CDK Global, Inc. | 200 | 10,812 | ||||||
Ceridian HCM Holding, Inc. (a) | 514 | 43,315 | ||||||
Cerner Corp. | 431 | 30,980 | ||||||
Change Healthcare, Inc. (a) | 1,647 | 36,399 | ||||||
Citrix Systems, Inc. | 416 | 58,390 | ||||||
Cloudflare, Inc. Class A (a) | 443 | 31,125 | ||||||
Concentrix Corp. (a) | 425 | 63,631 | ||||||
Coupa Software, Inc. (a) | 234 | 59,548 | ||||||
Datadog, Inc. Class A (a) | 598 | 49,837 | ||||||
DocuSign, Inc. (a) | 318 | 64,379 | ||||||
Dropbox, Inc. Class A (a) | 711 | 18,955 | ||||||
Dynatrace, Inc. (a) | 438 | 21,129 | ||||||
Elastic NV (a) | 325 | 36,140 | ||||||
Electronic Arts, Inc. | 592 | 80,139 | ||||||
Everbridge, Inc. (a) | 228 | 27,629 | ||||||
Fair Isaac Corp. (a) | 118 | 57,354 | ||||||
Fastly, Inc. Class A (a) (b) | 500 | 33,640 | ||||||
Fidelity National Information Services, Inc. | 94 | 13,217 | ||||||
Fiserv, Inc. (a) | 89 | 10,595 | ||||||
Five9, Inc. (a) | 422 | 65,971 | ||||||
Guidewire Software, Inc. (a) | 150 | 15,245 | ||||||
HubSpot, Inc. (a) | 191 | 86,754 | ||||||
Intuit, Inc. | 128 | 49,032 | ||||||
Jack Henry & Associates, Inc. | 213 | 32,316 | ||||||
Manhattan Associates, Inc. (a) | 296 | 34,744 | ||||||
Microsoft Corp. | 124 | 29,235 | ||||||
MongoDB, Inc. (a) | 210 | 56,160 | ||||||
MSCI, Inc. | 227 | 95,177 | ||||||
Nuance Communications, Inc. (a) | 2,247 | 98,059 | ||||||
Oracle Corp. | 225 | 15,788 | ||||||
PagerDuty, Inc. (a) (b) | 269 | 10,822 | ||||||
Paychex, Inc. | 398 | 39,012 | ||||||
Paycom Software, Inc. (a) | 151 | 55,879 | ||||||
Pegasystems, Inc. | 214 | 24,469 | ||||||
PTC, Inc. (a) | 537 | 73,918 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
RealPage, Inc. (a) | 483 | $ | 42,118 | |||||
RingCentral, Inc. Class A (a) | 260 | 77,449 | ||||||
Roper Technologies, Inc. | 126 | 50,821 | ||||||
salesforce.com, Inc. (a) | 86 | 18,221 | ||||||
ServiceNow, Inc. (a) | 103 | 51,511 | ||||||
Slack Technologies, Inc. Class A (a) | 631 | 25,638 | ||||||
Smartsheet, Inc. Class A (a) | 302 | 19,304 | ||||||
Splunk, Inc. (a) | 189 | 25,606 | ||||||
SS&C Technologies Holdings, Inc | 810 | 56,595 | ||||||
Synopsys, Inc. (a) | 501 | 124,138 | ||||||
Take-Two Interactive Software, Inc. (a) | 501 | 88,527 | ||||||
Twilio, Inc. Class A (a) | 220 | 74,967 | ||||||
Tyler Technologies, Inc. (a) | 151 | 64,104 | ||||||
Veeva Systems, Inc. Class A (a) | 331 | 86,470 | ||||||
VMware, Inc. Class A (a) | 134 | 20,160 | ||||||
Workday, Inc. Class A (a) | 171 | 42,482 | ||||||
Zoom Video Communications, Inc. Class A (a) | 90 | 28,916 | ||||||
Zynga, Inc. Class A (a) | 5,300 | 54,113 | ||||||
3,190,838 | ||||||||
6,814,376 | ||||||||
Utilities — 2.8% | ||||||||
Electric — 2.4% | ||||||||
AES Corp. | 4,139 | 110,967 | ||||||
Alliant Energy Corp. | 559 | 30,275 | ||||||
Ameren Corp. | 766 | 62,322 | ||||||
American Electric Power Co., Inc. | 287 | 24,309 | ||||||
CenterPoint Energy, Inc. | 1,435 | 32,503 | ||||||
CMS Energy Corp. | 715 | 43,772 | ||||||
Consolidated Edison, Inc. | 382 | 28,574 | ||||||
Dominion Energy, Inc. | 327 | 24,839 | ||||||
DTE Energy Co. | 516 | 68,700 | ||||||
Duke Energy Corp. | 645 | 62,262 | ||||||
Edison International | 249 | 14,591 | ||||||
Entergy Corp. | 386 | 38,395 | ||||||
Evergy, Inc. | 441 | 26,253 | ||||||
Eversource Energy | 573 | 49,616 | ||||||
Exelon Corp. | 1,415 | 61,892 | ||||||
IDACORP, Inc. | 98 | 9,797 | ||||||
NextEra Energy, Inc. | 493 | 37,276 | ||||||
NRG Energy, Inc. | 438 | 16,526 | ||||||
OGE Energy Corp. | 262 | 8,478 | ||||||
PG&E Corp. (a) | 2,638 | 30,891 | ||||||
Pinnacle West Capital Corp. | 362 | 29,449 | ||||||
PPL Corp. | 793 | 22,870 | ||||||
Public Service Enterprise Group, Inc. | 1,026 | 61,776 | ||||||
Sempra Energy | 178 | 23,599 | ||||||
The Southern Co. | 707 | 43,947 | ||||||
Vistra Corp. | 807 | 14,268 | ||||||
WEC Energy Group, Inc. | 560 | 52,410 | ||||||
Xcel Energy, Inc. | 1,088 | 72,363 | ||||||
1,102,920 | ||||||||
Gas — 0.2% | ||||||||
Atmos Energy Corp. | 163 | 16,112 | ||||||
National Fuel Gas Co. | 257 | 12,847 | ||||||
NiSource, Inc. | 1,026 | 24,737 | ||||||
UGI Corp. | 456 | 18,701 | ||||||
72,397 | ||||||||
Water — 0.2% | ||||||||
American Water Works Co., Inc. | 575 | 86,204 | ||||||
Essential Utilities, Inc. | 280 | 12,530 | ||||||
98,734 | ||||||||
1,274,051 | ||||||||
TOTAL COMMON STOCK (Cost $42,162,581) | 45,623,338 | |||||||
TOTAL EQUITIES (Cost $42,162,581) | 45,623,338 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Mutual Funds — 0.1% | ||||||||
Diversified Financial Services — 0.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c) | 55,400 | $ | 55,400 | |||||
TOTAL MUTUAL FUNDS (Cost $55,400) | 55,400 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $42,217,981) | 45,678,738 | |||||||
TOTAL INVESTMENTS — 100.0% (Cost $42,217,981) (d) | 45,678,738 | |||||||
Other Assets/(Liabilities) — (0.0)% | (175 | ) | ||||||
NET ASSETS — 100.0% | $ | 45,678,563 |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $772,331 or 1.69% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $733,283 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(c) | Represents investment of security lending cash collateral. (Note 2). |
(d) | See Note 3 for aggregate cost for federal tax purposes. |
MML High Yield Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 1.1% | ||||||||
Common Stock — 1.1% | ||||||||
Energy — 1.1% | ||||||||
Oil & Gas — 1.1% | ||||||||
Fieldwood Energy LLC (a) | 3,193 | $ | — | |||||
Fieldwood Energy LLC (a) | 13,011 | — | ||||||
Tourmaline Oil Corp. | 45,264 | 861,553 | ||||||
Tourmaline Oil Corp. (Escrow Shares) (a) (b) (c) | 195,880 | 155,869 | ||||||
TOTAL COMMON STOCK (Cost $1,191,070) | 1,017,422 | |||||||
TOTAL EQUITIES (Cost $1,191,070) | 1,017,422 |
Principal Amount | Value | |||||||
Bonds & Notes — 97.0% | ||||||||
Bank Loans — 13.0% | ||||||||
Advertising — 0.5% | ||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
3.712% VRN 8/21/26 | $ | 468,621 | $ | 449,487 | ||||
Aerospace & Defense — 1.2% | ||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, | ||||||||
0.000% 4/20/28 (d) | 506,512 | 518,385 | ||||||
Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 4.000% | ||||||||
4.750% VRN 3/01/28 | 627,323 | 621,496 | ||||||
1,139,881 | ||||||||
Chemicals — 0.7% | ||||||||
Consolidated Energy Finance, SA, Term Loan B, 1 mo. USD LIBOR + 2.500% | ||||||||
2.609% VRN 5/07/25 | 693,635 | 676,295 | ||||||
Commercial Services — 1.2% | ||||||||
City Brewing Company, LLC, Term Loan B, | ||||||||
0.000% 3/31/28 (d) | 233,168 | 233,168 | ||||||
Syniverse Holdings, Inc., 2018 1st Lien Term Loan, 3 mo. USD LIBOR + 5.000% | ||||||||
6.000% VRN 3/09/23 | 903,708 | 890,252 | ||||||
1,123,420 | ||||||||
Entertainment — 0.3% | ||||||||
Delta 2 (LUX) S.A.R.L., 2018 USD Term Loan, 1 mo. USD LIBOR + 2.500% | ||||||||
3.500% VRN 2/01/24 | 259,676 | 256,835 | ||||||
Health Care – Services — 0.5% | ||||||||
Radiology Partners, Inc., 2018 1st Lien Term Loan B, 1 mo. USD LIBOR + 4.250%, 3 mo. USD LIBOR + 4.250% | ||||||||
4.357% - 5.295% VRN 7/09/25 | 471,000 | 466,879 | ||||||
Oil & Gas — 0.0% | ||||||||
Fieldwood Energy LLC, Exit 2nd Lien Term Loan, 12 mo. USD LIBOR + 0.000% | ||||||||
0.000% VRN4/11/23 (e) | 387,384 | 17,917 | ||||||
Packaging & Containers — 2.7% | ||||||||
BWAY Holding Co., 2017 Term Loan B, 3 mo. USD LIBOR + 3.250% | ||||||||
3.443% VRN 4/03/24 | 1,178,374 | 1,151,861 | ||||||
Flex Acquisition Company, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
4.000% VRN 2/23/28 | 619,310 | 610,893 | ||||||
Proampac PG Borrower LLC, 2020 Term Loan, 1 mo. USD LIBOR + 4.000%, 3 mo. USD LIBOR + 4.000% | ||||||||
5.000% VRN 11/03/25 | 681,195 | 680,234 | ||||||
Trident TPI Holdings, Inc., 2017 USD Term Loan B1, 3 mo. USD LIBOR + 3.000% | ||||||||
4.000% VRN 10/17/24 | 160,890 | 159,106 | ||||||
2,602,094 | ||||||||
Retail — 0.5% | ||||||||
Great Outdoors Group LLC, 2021 Term Loan B, 6 mo. USD LIBOR + 4.250% | ||||||||
5.000% VRN 3/06/28 | 468,969 | 469,203 | ||||||
Software — 5.4% | ||||||||
Banff Merger Sub, Inc., 2021 USD Term Loan, 1 mo. USD LIBOR + 3.750% | ||||||||
3.859% VRN 10/02/25 | 763,358 | 759,541 | ||||||
Cvent, Inc., 1st Lien Term Loan, 2 mo. USD LIBOR + 3.750% | ||||||||
3.900% VRN 11/29/24 | 778,411 | 756,250 | ||||||
Finastra USA, Inc. | ||||||||
USD 1st Lien Term Loan, 3 mo. USD LIBOR + 3.500% | ||||||||
4.500% VRN 6/13/24 | 1,679,768 | 1,644,560 | ||||||
USD 2nd Lien Term Loan, 6 mo. USD LIBOR + 7.250% | ||||||||
8.250% VRN 6/13/25 | 1,400,000 | 1,405,250 | ||||||
Renaissance Holding Corp., 2018 2nd Lien Term Loan, 1 mo. USD LIBOR + 7.000% | ||||||||
7.203% VRN 5/29/26 | 539,037 | 536,881 | ||||||
5,102,482 | ||||||||
TOTAL BANK LOANS (Cost $12,424,123) | 12,304,493 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Corporate Debt — 84.0% | ||||||||
Advertising — 1.1% | ||||||||
Clear Channel Outdoor Holdings, Inc. | ||||||||
7.750% 4/15/28 (f) | $ | 301,000 | $ | 298,390 | ||||
Outfront Media Capital LLC / Outfront Media Capital Corp. | ||||||||
4.250% 1/15/29 (f) | 141,000 | 135,744 | ||||||
Terrier Media Buyer, Inc. | ||||||||
8.875% 12/15/27 (f) | 523,000 | 562,774 | ||||||
996,908 | ||||||||
Aerospace & Defense — 2.6% | ||||||||
TransDigm, Inc. | ||||||||
4.625% 1/15/29 (f) | 160,000 | 157,566 | ||||||
6.250% 3/15/26 (f) | 316,000 | 334,929 | ||||||
6.375% 6/15/26 | 154,000 | 159,198 | ||||||
8.000% 12/15/25 (f) | 255,000 | 277,695 | ||||||
Triumph Group, Inc. | ||||||||
6.250% 9/15/24 (f) | 306,000 | 310,498 | ||||||
7.750% 8/15/25 | 1,243,000 | 1,249,215 | ||||||
2,489,101 | ||||||||
Airlines — 1.6% | ||||||||
American Airlines, Inc. | ||||||||
11.750% 7/15/25 (f) | 379,000 | 468,539 | ||||||
American Airlines, Inc. /AAdvantage Loyalty IP Ltd. | ||||||||
5.500% 4/20/26 (f) | 535,000 | 557,737 | ||||||
5.750% 4/20/29 (f) | 229,000 | 244,068 | ||||||
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. | ||||||||
6.500% 6/20/27 (f) | 265,000 | 290,175 | ||||||
1,560,519 | ||||||||
Auto Manufacturers — 4.5% | ||||||||
Ford Motor Co. | ||||||||
7.450% 7/16/31 | 472,000 | 595,112 | ||||||
8.500% 4/21/23 | 312,000 | 347,880 | ||||||
9.000% 4/22/25 | 241,000 | 291,879 | ||||||
9.625% 4/22/30 | 726,000 | 1,013,162 | ||||||
Ford Motor Credit Co. LLC | ||||||||
4.125% 8/17/27 | 289,000 | 298,392 | ||||||
4.134% 8/04/25 | 200,000 | 209,185 | ||||||
4.542% 8/01/26 | 1,039,000 | 1,099,470 | ||||||
JB Poindexter & Co., Inc. | ||||||||
7.125% 4/15/26 (f) | 435,000 | 459,469 | ||||||
4,314,549 | ||||||||
Auto Parts & Equipment — 1.0% | ||||||||
Adient Global Holdings Ltd. | ||||||||
4.875% 8/15/26 (f) | 170,000 | 174,463 | ||||||
American Axle & Manufacturing, Inc. | ||||||||
6.500% 4/01/27 | 219,000 | 227,212 | ||||||
Clarios Global LP/Clarios US Finance Co. | ||||||||
8.500% 5/15/27 (f) | 467,000 | 502,847 | ||||||
904,522 | ||||||||
Building Materials — 0.4% | ||||||||
Cornerstone Building Brands, Inc. | ||||||||
6.125% 1/15/29 (f) | 171,000 | 182,115 | ||||||
CP Atlas Buyer, Inc. | ||||||||
7.000% 12/01/28 (f) | 208,000 | 218,618 | ||||||
400,733 | ||||||||
Chemicals — 1.4% | ||||||||
CF Industries, Inc. | ||||||||
4.950% 6/01/43 | 63,000 | 72,156 | ||||||
5.375% 3/15/44 | 240,000 | 284,700 | ||||||
Consolidated Energy Finance SA | ||||||||
6.875% 6/15/25 (f) | 815,000 | 830,281 | ||||||
Nouryon Holding BV | ||||||||
8.000% 10/01/26 (f) | 141,000 | 149,783 | ||||||
1,336,920 | ||||||||
Coal — 2.3% | ||||||||
Peabody Energy Corp. | ||||||||
8.500% 12/31/24 (f) | 583,000 | 244,860 | ||||||
PIC AU Holdings LLC / PIC AU Holdings Corp. | ||||||||
10.000% 12/31/24 (f) | 656,000 | 601,880 | ||||||
SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp. | ||||||||
7.500% 6/15/25 (f) | 759,000 | 788,411 | ||||||
Warrior Met Coal, Inc. | ||||||||
8.000% 11/01/24 (f) | 534,000 | 547,350 | ||||||
2,182,501 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Commercial Services — 0.6% | ||||||||
Alta Equipment Group, Inc. | ||||||||
5.625% 4/15/26 (f) (g) | $ | 60,000 | $ | 60,825 | ||||
NESCO Holdings II, Inc. | ||||||||
5.500% 4/15/29 (f) (g) | 43,000 | 44,097 | ||||||
Prime Security Services Borrower LLC / Prime Finance, Inc. | ||||||||
6.250% 1/15/28 (f) | 487,000 | 506,962 | ||||||
611,884 | ||||||||
Computers — 1.3% | ||||||||
Banff Merger Sub, Inc. | ||||||||
9.750% 9/01/26 (f) | 466,000 | 496,560 | ||||||
Diebold Nixdorf, Inc. | ||||||||
9.375% 7/15/25 (f) | 675,000 | 751,781 | ||||||
1,248,341 | ||||||||
Distribution & Wholesale — 1.3% | ||||||||
Core & Main Holdings LP | ||||||||
8.625% 9/15/24 (f) | 155,000 | 157,325 | ||||||
Core & Main LP | ||||||||
6.125% 8/15/25 (f) | 313,000 | 321,244 | ||||||
Resideo Funding, Inc. | ||||||||
6.125% 11/01/26 (f) | 433,000 | 456,127 | ||||||
Univar Solutions USA, Inc. | ||||||||
5.125% 12/01/27 (f) | 254,000 | 264,317 | ||||||
1,199,013 | ||||||||
Diversified Financial Services — 3.3% | ||||||||
Alliance Data Systems Corp. | ||||||||
4.750% 12/15/24 (f) | 767,000 | 787,134 | ||||||
7.000% 1/15/26 (f) | 169,000 | 180,864 | ||||||
Global Aircraft Leasing Co. Ltd. | ||||||||
6.500% 9/15/24 (f) | 1,445,880 | 1,386,599 | ||||||
OneMain Finance Corp. | ||||||||
4.000% 9/15/30 | 169,000 | 164,352 | ||||||
5.375% 11/15/29 | 552,000 | 587,190 | ||||||
3,106,139 | ||||||||
Electric — 1.7% | ||||||||
FirstEnergy Corp. | ||||||||
2.250% 9/01/30 | 148,000 | 137,270 | ||||||
5.350% STEP 7/15/47 | 352,000 | 395,357 | ||||||
7.375% 11/15/31 | 48,000 | 64,186 | ||||||
PG&E Corp. | ||||||||
5.000% 7/01/28 | 567,000 | 599,021 | ||||||
Pike Corp. | ||||||||
5.500% 9/01/28 (f) | 447,000 | 454,823 | ||||||
1,650,657 | ||||||||
Engineering & Construction — 0.5% | ||||||||
Arcosa, Inc. Co. | ||||||||
4.375% 4/15/29 (f) (g) | 108,000 | 108,000 | ||||||
New Enterprise Stone & Lime Co., Inc. | ||||||||
9.750% 7/15/28 (f) | 323,000 | 361,760 | ||||||
469,760 | ||||||||
Entertainment — 2.1% | ||||||||
Banijay Entertainment SASU | ||||||||
5.375% 3/01/25 (f) | 241,000 | 248,832 | ||||||
Caesars Entertainment, Inc. | ||||||||
8.125% 7/01/27 (f) | 443,000 | 488,718 | ||||||
Caesars Resort Collection LLC/CRC Finco, Inc. | ||||||||
5.250% 10/15/25 (f) | 266,000 | 268,305 | ||||||
CCM Merger, Inc. | ||||||||
6.375% 5/01/26 (f) | 193,000 | 204,941 | ||||||
Live Nation Entertainment, Inc. | ||||||||
4.750% 10/15/27 (f) | 407,000 | 410,052 | ||||||
Scientific Games International, Inc. | ||||||||
7.250% 11/15/29 (f) | 187,000 | 202,895 | ||||||
8.250% 3/15/26 (f) | 37,000 | 39,683 | ||||||
8.625% 7/01/25 (f) | 147,000 | 159,818 | ||||||
2,023,244 | ||||||||
Food — 3.9% | ||||||||
JBS USA LUX SA/JBS USA Finance, Inc. | ||||||||
6.750% 2/15/28 (f) | 824,000 | 905,617 | ||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||
5.500% 1/15/30 (f) | 826,000 | 914,171 | ||||||
6.500% 4/15/29 (f) | 1,094,000 | 1,235,673 | ||||||
Kraft Heinz Foods Co. | ||||||||
4.250% 3/01/31 | 204,000 | 224,662 | ||||||
6.875% 1/26/39 | 206,000 | 283,218 | ||||||
Simmons Foods, Inc. /Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc. /Simmons Feed | ||||||||
4.625% 3/01/29 (f) | 161,000 | 162,412 | ||||||
3,725,753 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Forest Products & Paper — 0.2% | ||||||||
Clearwater Paper Corp. | ||||||||
4.750% 8/15/28 (f) | $ | 230,000 | $ | 231,725 | ||||
Health Care – Services — 1.9% | ||||||||
CHS/Community Health Systems, Inc. | ||||||||
4.750% 2/15/31 (f) | 108,000 | 105,505 | ||||||
Molina Healthcare, Inc. | ||||||||
4.375% 6/15/28 (f) | 200,000 | 205,792 | ||||||
Radiology Partners, Inc. | ||||||||
9.250% 2/01/28 (f) | 300,000 | 326,625 | ||||||
Tenet Healthcare Corp. | ||||||||
4.625% 7/15/24 | 400,000 | 406,700 | ||||||
4.625% 9/01/24 (f) | 323,000 | 332,286 | ||||||
6.125% 10/01/28 (f) | 350,000 | 364,525 | ||||||
US Acute Care Solutions LLC | ||||||||
6.375% 3/01/26 (f) | 99,000 | 102,713 | ||||||
1,844,146 | ||||||||
Home Builders — 2.7% | ||||||||
Brookfield Residential Properties, Inc. | ||||||||
6.375% 5/15/25 (f) | 491,000 | 502,661 | ||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp. | ||||||||
4.875% 2/15/30 (f) | 261,000 | 261,162 | ||||||
Empire Communities Corp. | ||||||||
7.000% 12/15/25 (f) | 123,000 | 129,611 | ||||||
M/I Homes, Inc. | ||||||||
4.950% 2/01/28 | 368,000 | 381,110 | ||||||
Mattamy Group Corp. | ||||||||
4.625% 3/01/30 (f) | 668,000 | 663,511 | ||||||
STL Holding Co. LLC | ||||||||
7.500% 2/15/26 (f) | 440,000 | 457,600 | ||||||
TRI Pointe Group, Inc. | ||||||||
5.700% 6/15/28 | 153,000 | 169,097 | ||||||
2,564,752 | ||||||||
Insurance — 0.5% | ||||||||
AssuredPartners, Inc. | ||||||||
5.625% 1/15/29 (f) | 152,000 | 154,888 | ||||||
Highlands Holdings Bond Issuer Ltd. / Highlands Holdings Bond Co-Issuer, Inc. | ||||||||
7.625% 10/15/25 (f) | 293,000 | 314,243 | ||||||
469,131 | ||||||||
Internet — 1.6% | ||||||||
Endure Digital, Inc. | ||||||||
6.000% 2/15/29 (f) | 350,000 | 341,687 | ||||||
Netflix, Inc. | ||||||||
5.375% 11/15/29 (f) | 523,000 | 618,474 | ||||||
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc. | ||||||||
6.000% 2/15/28 (f) | 171,000 | 170,573 | ||||||
10.750% 6/01/28 (f) | 169,000 | 190,919 | ||||||
Uber Technologies, Inc. | ||||||||
6.250% 1/15/28 (f) | 174,000 | 188,127 | ||||||
1,509,780 | ||||||||
Iron & Steel — 0.4% | ||||||||
United States Steel Corp. | ||||||||
6.875% 3/01/29 | 361,000 | 370,025 | ||||||
Leisure Time — 2.2% | ||||||||
Carlson Travel, Inc. | ||||||||
6.750% 12/15/25 (f) | 296,000 | 270,840 | ||||||
11.500% 12/15/26 (f) | 894,257 | 679,635 | ||||||
Carnival Corp. | ||||||||
5.750% 3/01/27 (f) | 487,000 | 500,617 | ||||||
NCL Corp. Ltd. | ||||||||
5.875 % 3/15/26 (f) | 499,000 | 505,682 | ||||||
NCL Finance Ltd. | ||||||||
6.125% 3/15/28 (f) | 94,000 | 95,762 | ||||||
2,052,536 | ||||||||
Lodging — 1.6% | ||||||||
Wyndham Destinations, Inc. | ||||||||
6.625% 7/31/26 (f) | 213,000 | 241,830 | ||||||
Wyndham Hotels & Resorts, Inc. | ||||||||
4.375% 8/15/28 (f) | 185,000 | 187,127 | ||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. | ||||||||
5.500% 3/01/25 (f) | 740,000 | 781,810 | ||||||
Wynn Macau Ltd. | ||||||||
5.125% 12/15/29 (f) | 268,000 | 274,700 | ||||||
1,485,467 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Machinery – Diversified — 0.4% | ||||||||
Clark Equipment Co. | ||||||||
5.875% 6/01/25 (f) | $ | 321,000 | $ | 339,458 | ||||
Media — 4.7% | ||||||||
Altice Financing SA | ||||||||
5.000% 1/15/28 (f) | 316,000 | 312,464 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
4.750% 3/01/30 (f) | 236,000 | 244,555 | ||||||
Clear Channel Worldwide Holdings, Inc. | ||||||||
5.125% 8/15/27 (f) | 313,000 | 315,050 | ||||||
9.250% 2/15/24 | 209,000 | 217,423 | ||||||
DISH DBS Corp. | ||||||||
7.750% 7/01/26 | 217,000 | 239,026 | ||||||
DISH Network Corp. | ||||||||
3.375% 8/15/26 | 680,000 | 653,684 | ||||||
iHeartCommunications, Inc. | ||||||||
8.375% 5/01/27 | 482,000 | 517,547 | ||||||
LCPR Senior Secured Financing DAC | ||||||||
5.125% 7/15/29 (f) | 465,000 | 473,193 | ||||||
6.750% 10/15/27 (f) | 314,000 | 334,771 | ||||||
McGraw Hill LLC / McGraw-Hill Global Education Finance, Inc. | ||||||||
8.000% 11/30/24 (f) | 359,000 | 362,159 | ||||||
Midcontinent Communications / Midcontinent Finance Corp. | ||||||||
5.375% 8/15/27 (f) | 205,000 | 213,139 | ||||||
Nexstar Broadcasting, Inc. | ||||||||
4.750% 11/01/28 (f) | 118,000 | 119,243 | ||||||
Virgin Media Finance PLC | ||||||||
5.000% 7/15/30 (f) | 147,000 | 146,816 | ||||||
Virgin Media Secured Finance PLC | ||||||||
4.500% 8/15/30 (f) | 280,000 | 282,450 | ||||||
4,431,520 | ||||||||
Mining — 4.6% | ||||||||
Compass Minerals International, Inc. | ||||||||
4.875% 7/15/24 (f) | 294,000 | 304,725 | ||||||
6.750% 12/01/27 (f) | 192,000 | 205,440 | ||||||
First Quantum Minerals Ltd. | ||||||||
6.875% 10/15/27 (f) | 600,000 | 643,500 | ||||||
7.250% 4/01/23 (f) | 659,000 | 670,532 | ||||||
7.500% 4/01/25 (f) | 647,000 | 668,027 | ||||||
Freeport-McMoRan, Inc. | ||||||||
4.125% 3/01/28 | 69,000 | 72,533 | ||||||
4.375% 8/01/28 | 359,000 | 380,809 | ||||||
4.625% 8/01/30 | 200,000 | 217,645 | ||||||
Hecla Mining Co. | ||||||||
7.250% 2/15/28 | 423,000 | 453,668 | ||||||
Hudbay Minerals, Inc. | ||||||||
6.125% 4/01/29 (f) | 147,000 | 156,923 | ||||||
Kinross Gold Corp. | ||||||||
6.875% 9/01/41 | 476,000 | 618,104 | ||||||
Northwest Acquisitions ULC/Dominion Finco, Inc. | ||||||||
7.125% 11/01/22 (e) (f) | 884,000 | 88 | ||||||
4,391,994 | ||||||||
Miscellaneous - Manufacturing — 0.8% | ||||||||
Gates Global LLC / Gates Corp. | ||||||||
6.250% 1/15/26 (f) | 700,000 | 733,250 | ||||||
Oil & Gas — 9.7% | ||||||||
Antero Resources Corp. | ||||||||
7.625% 2/01/29 (f) | 62,000 | 66,030 | ||||||
8.375% 7/15/26 (f) | 156,000 | 171,990 | ||||||
Apache Corp. | ||||||||
4.750% 4/15/43 | 65,000 | 60,288 | ||||||
5.100% 9/01/40 | 130,000 | 127,075 | ||||||
5.350% 7/01/49 | 197,000 | 188,135 | ||||||
Chesapeake Energy Corp. | ||||||||
5.500% 2/01/26 (f) | 90,000 | 93,681 | ||||||
5.875% 2/01/29 (f) | 182,000 | 192,920 | ||||||
Comstock Resources, Inc. | ||||||||
6.750% 3/01/29 (f) | 126,000 | 129,150 | ||||||
Continental Resources, Inc. | ||||||||
4.375% 1/15/28 | 168,000 | 177,416 | ||||||
CVR Energy, Inc. | ||||||||
5.750% 2/15/28 (f) | 1,323,000 | 1,286,617 | ||||||
EQT Corp. | ||||||||
8.500% STEP 2/01/30 | 55,000 | 70,142 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Hilcorp Energy I LP / Hilcorp Finance Co. | ||||||||
5.000% 12/01/24 (f) | $ | 79,000 | $ | 79,593 | ||||
5.750% 10/01/25 (f) | 43,000 | 43,108 | ||||||
6.250% 11/01/28 (f) | 365,000 | 375,950 | ||||||
MEG Energy Corp. | ||||||||
7.125% 2/01/27 (f) | 379,000 | 397,002 | ||||||
Murphy Oil Corp. | ||||||||
6.375% 7/15/28 | 182,000 | 182,227 | ||||||
Nabors Industries Ltd. | ||||||||
7.250% 1/15/26 (f) | 184,000 | 152,720 | ||||||
7.500% 1/15/28 (f) | 119,000 | 97,878 | ||||||
Neptune Energy Bondco PLC | ||||||||
6.625% 5/15/25 (f) | 594,000 | 596,227 | ||||||
Occidental Petroleum Corp. | ||||||||
2.700% 2/15/23 | 32,000 | 31,927 | ||||||
2.900% 8/15/24 | 93,000 | 91,969 | ||||||
3.500% 6/15/25 | 190,000 | 188,100 | ||||||
4.200% 3/15/48 | 31,000 | 24,955 | ||||||
4.400% 4/15/46 | 198,000 | 167,805 | ||||||
4.400% 8/15/49 | 78,000 | 64,740 | ||||||
4.500% 7/15/44 | 81,000 | 68,850 | ||||||
5.875% 9/01/25 | 178,000 | 189,792 | ||||||
6.125% 1/01/31 | 210,000 | 231,882 | ||||||
6.200% 3/15/40 | 550,000 | 565,125 | ||||||
6.375% 9/01/28 | 182,000 | 199,764 | ||||||
6.450% 9/15/36 | 215,000 | 237,387 | ||||||
6.600% 3/15/46 | 352,000 | 374,000 | ||||||
6.950% 7/01/24 | 88,000 | 96,562 | ||||||
Ovintiv Exploration, Inc. | ||||||||
5.375% 1/01/26 | 88,000 | 96,602 | ||||||
5.625% 7/01/24 | 56,000 | 61,557 | ||||||
Ovintiv, Inc. | ||||||||
6.500% 8/15/34 | 108,000 | 129,859 | ||||||
6.500% 2/01/38 | 47,000 | 56,829 | ||||||
7.200% 11/01/31 | 29,000 | 36,109 | ||||||
7.375% 11/01/31 | 89,000 | 113,074 | ||||||
8.125% 9/15/30 | 84,000 | 108,893 | ||||||
Parkland Corp. | ||||||||
5.875% 7/15/27 (f) | 247,000 | 263,364 | ||||||
PBF Holding Co. LLC / PBF Finance Corp. | ||||||||
6.000% 2/15/28 | 1,474,000 | 1,088,917 | ||||||
9.250% 5/15/25 (f) | 82,000 | 83,613 | ||||||
Range Resources Corp. | ||||||||
8.250% 1/15/29 (f) | 123,000 | 131,610 | ||||||
9,191,434 | ||||||||
Oil & Gas Services — 0.9% | ||||||||
CGG SA | ||||||||
8.750% 4/01/27 (f) (g) | 214,000 | 215,648 | ||||||
Welltec A/S | ||||||||
9.500% 12/01/22 (f) | 683,000 | 672,755 | ||||||
888,403 | ||||||||
Packaging & Containers — 1.3% | ||||||||
Mauser Packaging Solutions Holding Co. | ||||||||
7.250% 4/15/25 (f) | 781,000 | 781,000 | ||||||
Trident TPI Holdings, Inc. | ||||||||
9.250% 8/01/24 (f) | 386,000 | 409,160 | ||||||
1,190,160 | ||||||||
Pharmaceuticals — 2.0% | ||||||||
Bausch Health Americas, Inc. | ||||||||
8.500% 1/31/27 (f) | 250,000 | 277,344 | ||||||
Bausch Health Cos., Inc. | ||||||||
5.000% 1/30/28 (f) | 446,000 | 454,563 | ||||||
5.250% 1/30/30 (f) | 320,000 | 321,283 | ||||||
Endo DAC / Endo Finance LLC / Endo Finco, Inc. | ||||||||
6.000% 6/30/28 (f) | 181,000 | 146,610 | ||||||
Par Pharmaceutical, Inc. | ||||||||
7.500% 4/01/27 (f) | 629,000 | 668,753 | ||||||
1,868,553 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Pipelines — 4.1% | ||||||||
Buckeye Partners LP | ||||||||
5.850% 11/15/43 | $ | 66,000 | $ | 64,110 | ||||
Cheniere Energy Partners LP | ||||||||
5.625% 10/01/26 | 325,000 | 339,852 | ||||||
DCP Midstream Operating LP | ||||||||
5.625% 7/15/27 | 216,000 | 234,505 | ||||||
6.450% 11/03/36 (f) | 10,000 | 11,175 | ||||||
EnLink Midstream LLC | ||||||||
5.375% 6/01/29 | 173,000 | 161,755 | ||||||
EnLink Midstream Partners LP | ||||||||
4.850% 7/15/26 | 56,000 | 54,098 | ||||||
5.450% 6/01/47 | 97,000 | 78,242 | ||||||
5.600% 4/01/44 | 257,000 | 213,310 | ||||||
EQM Midstream Partners LP | ||||||||
4.500% 1/15/29 (f) | 157,000 | 152,990 | ||||||
4.750% 1/15/31 (f) | 142,000 | 137,740 | ||||||
6.000% 7/01/25 (f) | 182,000 | 195,877 | ||||||
6.500% 7/01/27 (f) | 151,000 | 164,175 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp. | ||||||||
6.500% 10/01/25 | 440,000 | 431,310 | ||||||
Harvest Midstream I LP | ||||||||
7.500% 9/01/28 (f) | 228,000 | 245,032 | ||||||
NGL Energy Operating LLC / NGL Energy Finance Corp. | ||||||||
7.500% 2/01/26 (f) | 229,000 | 234,969 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
4.875% 2/01/31 (f) | 295,000 | 298,909 | ||||||
5.000% 1/15/28 | 33,000 | 34,361 | ||||||
5.500% 3/01/30 | 28,000 | 29,400 | ||||||
6.875% 1/15/29 | 61,000 | 67,204 | ||||||
Western Midstream Operating LP | ||||||||
5.300% STEP 2/01/30 | 145,000 | 157,144 | ||||||
5.300% 3/01/48 | 399,000 | 400,412 | ||||||
5.450% 4/01/44 | 202,000 | 207,151 | ||||||
3,913,721 | ||||||||
Real Estate — 0.3% | ||||||||
Realogy Group LLC / Realogy Co-Issuer Corp. | ||||||||
5.750% 1/15/29 (f) | 311,000 | 306,724 | ||||||
Real Estate Investment Trusts (REITS) — 2.4% | ||||||||
ESH Hospitality, Inc. | ||||||||
4.625% 10/01/27 (f) | 388,000 | 410,364 | ||||||
Iron Mountain, Inc. | ||||||||
5.250% 7/15/30 (f) | 303,000 | 312,635 | ||||||
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | ||||||||
5.875% 10/01/28 (f) | 108,000 | 114,507 | ||||||
RHP Hotel Properties LP/RHP Finance Corp. | ||||||||
4.750% 10/15/27 | 425,000 | 435,038 | ||||||
Service Properties Trust | ||||||||
3.950% 1/15/28 | 73,000 | 67,525 | ||||||
4.375% 2/15/30 | 115,000 | 105,651 | ||||||
4.950% 2/15/27 | 58,000 | 57,348 | ||||||
7.500% 9/15/25 | 467,000 | 530,522 | ||||||
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC | ||||||||
7.125% 12/15/24 (f) | 45,000 | 46,294 | ||||||
7.875% 2/15/25 (f) | 25,000 | 27,050 | ||||||
8.250% 10/15/23 | 169,000 | 169,423 | ||||||
2,276,357 | ||||||||
Retail — 2.7% | ||||||||
BCPE Ulysses Intermediate, Inc. | ||||||||
7.750% 4/01/27 (f) | 260,000 | 269,750 | ||||||
L Brands, Inc. | ||||||||
6.750% 7/01/36 | 97,000 | 114,460 | ||||||
6.875% 11/01/35 | 299,000 | 356,345 | ||||||
LBM Acquisition LLC | ||||||||
6.250% 1/15/29 (f) | 143,000 | 147,290 | ||||||
Macy's Retail Holdings LLC | ||||||||
5.875% 4/01/29 (f) | 40,000 | 41,018 | ||||||
NMG Holding Co., Inc. / Neiman Marcus Group LLC | ||||||||
7.125% 4/01/26 (f) | 473,000 | 482,460 | ||||||
Nordstrom, Inc. | ||||||||
4.000% 3/15/27 | 65,000 | 66,950 | ||||||
4.375% 4/01/30 | 65,000 | 66,344 | ||||||
5.000% 1/15/44 | 331,000 | 325,561 | ||||||
Party City Holdings, Inc. | ||||||||
8.750% 2/15/26 (f) | 75,000 | 77,250 | ||||||
Staples, Inc. | ||||||||
7.500% 4/15/26 (f) | 461,000 | 486,355 | ||||||
Superior Plus LP / Superior General Partner, Inc. | ||||||||
4.500% 3/15/29 (f) | 145,000 | 146,479 | ||||||
2,580,262 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Software — 3.1% | ||||||||
Avaya Holdings Corp., Convertible, | ||||||||
2.250% 6/15/23 | $ | 335,000 | $ | 413,390 | ||||
BY Crown Parent LLC | ||||||||
7.375% 10/15/24 (f) | 191,000 | 194,104 | ||||||
Solera LLC/ Solera Finance, Inc. | ||||||||
10.500% 3/01/24 (f) | 465,000 | 480,391 | ||||||
Veritas US, Inc./Veritas Bermuda Ltd. | ||||||||
10.500% 2/01/24(f) | 1,796,000 | 1,838,655 | ||||||
2,926,540 | ||||||||
Storage & Warehousing — 1.2% | ||||||||
LBC Tank Terminals Holding Netherlands BV | ||||||||
6.875% 5/15/23 (f) | 1,111,000 | 1,111,000 | ||||||
Telecommunications — 3.3% | ||||||||
Avaya, Inc. | ||||||||
6.125% 9/15/28 (f) | 107,000 | 113,827 | ||||||
CenturyLink, Inc. | ||||||||
5.125% 12/15/26 (f) | 110,000 | 115,872 | ||||||
CommScope Technologies Finance LLC | ||||||||
6.000% 6/15/25 (f) | 196,000 | 199,930 | ||||||
CommScope Technologies LLC | ||||||||
5.000% 3/15/27 (f) | 174,000 | 172,370 | ||||||
CommScope, Inc. | ||||||||
7.125% 7/01/28 (f) | 200,000 | 212,416 | ||||||
Consolidated Communications, Inc. | ||||||||
6.500% 10/01/28 (f) | 391,000 | 422,331 | ||||||
Hughes Satellite Systems Corp. | ||||||||
6.625% 8/01/26 | 687,000 | 761,265 | ||||||
Sprint Capital Corp. | ||||||||
8.750% 3/15/32 | 126,000 | 186,322 | ||||||
Sprint Corp. | ||||||||
7.625% 3/01/26 | 386,000 | 472,825 | ||||||
Telecom Italia Capital | ||||||||
6.000% 9/30/34 | 150,000 | 170,122 | ||||||
Windstream Escrow LLC / Windstream Escrow Finance Corp. | ||||||||
7.750% 8/15/28 (f) | 330,000 | 335,362 | ||||||
3,162,642 | ||||||||
Transportation — 1.8% | ||||||||
Kenan Advantage Group, Inc. | ||||||||
7.875% 7/31/23 (f) | 1,700,000 | 1,695,750 | ||||||
TOTAL CORPORATE DEBT (Cost $76,927,573) | 79,755,874 | |||||||
TOTAL BONDS & NOTES (Cost $89,351,696) | 92,060,367 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $90,542,766) | 93,077,789 | |||||||
Short-Term Investments — 2.8% | ||||||||
Repurchase Agreement — 2.8% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (h) | 2,711,288 | 2,711,288 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,711,288) | 2,711,288 | |||||||
TOTAL INVESTMENTS — 100.9% (Cost $93,254,054) (i) | 95,789,077 | |||||||
Other Assets/(Liabilities) — (0.9)% | (846,975 | ) | ||||||
NET ASSETS — 100.0% | $ | 94,942,102 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Abbreviation Legend
STEP Step Up Bond
VRN Variable Rate Note
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At March 31, 2021, these securities amounted to a value of $155,869 or 0.16% of net assets. |
(c) | Investment was valued using significant unobservable inputs. |
(d) | All or a portion of the security represents unsettled loan commitments at March 31, 2021 where the rate will be determined at time of settlement. |
(e) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At March 31, 2021, these securities amounted to a value of $18,005 or 0.02% of net assets. |
(f) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $54,845,760 or 57.77% of net assets. |
(g) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(h) | Maturity value of $2,711,288. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $2,765,603. |
(i) | See Note 3 for aggregate cost for federal tax purposes. |
MML Inflation-Protected and Income Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Principal Amount | Value | |||||||
Bonds & Notes — 85.1% | ||||||||
Corporate Debt — 0.5% | ||||||||
Real Estate Investment Trusts (REITS) — 0.5% | ||||||||
SBA Tower Trust | ||||||||
3.168% 4/09/47 (a) | $ | 1,500,000 | $ | 1,502,631 | ||||
TOTAL CORPORATE DEBT (Cost $1,044,102) | 1,502,631 | |||||||
Municipal Obligations — 0.0% | ||||||||
Louisiana State Public Facilities Authority, Revenue Bonds, Series 2011-A, Class A2, 3 mo. USD LIBOR | ||||||||
1.118% FRN 4/26/27 | 10,638 | 10,655 | ||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $10,638) | 10,655 | |||||||
Non-U.S. Government Agency Obligations — 53.6% | ||||||||
Auto Floor Plan Asset-Backed Securities — 2.9% | ||||||||
Navistar Financial Dealer Note Master Owner Trust II | ||||||||
Series 2019-1, Class A, 1 mo. USD LIBOR + .640% 0.749% FRN 5/25/24 (a) | 5,700,000 | 5,703,649 | ||||||
Series 2019-1, Class B, 1 mo. USD LIBOR + .750% 0.859% FRN 5/25/24 (a) | 3,000,000 | 3,001,102 | ||||||
Series 2019-1, Class C, 1 mo. USD LIBOR + .950% 1.059% FRN 5/25/24 (a) | 1,300,000 | 1,299,904 | ||||||
10,004,655 | ||||||||
Automobile Asset-Backed Securities — 4.7% | ||||||||
American Credit Acceptance Receivables Trust | ||||||||
Series 2019-1, Class C, 3.500% 4/14/25 (a) | 1,118,421 | 1,131,552 | ||||||
Series 2018-3, Class C, 3.750% 10/15/24 (a) | 519,060 | 519,752 | ||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C | ||||||||
4.530% 3/20/23 (a) | 388,000 | 397,008 | ||||||
CarMax Auto Owner Trust, Series 2017-2, Class D | ||||||||
3.390% 10/16/23 | 2,400,000 | 2,413,539 | ||||||
Chesapeake Funding II LLC, Series 2018-1A, Class A2, 1 mo. USD LIBOR + .450% | ||||||||
0.556% FRN 4/15/30 (a) | 298,965 | 299,148 | ||||||
Drive Auto Receivables Trust, Series 2019-1, Class C | ||||||||
3.780% 4/15/25 | 825,944 | 836,882 | ||||||
Exeter Automobile Receivables Trust, Series 2020-2A, Class A | ||||||||
1.130% 8/15/23 (a) | 263,983 | 264,543 | ||||||
Hertz Fleet Lease Funding LP, Series 2018-1, Class A1, 1 mo. USD LIBOR + .500% | ||||||||
0.606% FRN 5/10/32 (a) | 757,535 | 757,471 | ||||||
Hertz Vehicle Financing II LP | ||||||||
Series 2017-1A, Class B, 3.560% 10/25/21 (a) | 2,530,000 | 2,519,586 | ||||||
Series 2019-2A, Class C, 4.260% 5/25/25 (a) | 2,525,000 | 2,519,884 | ||||||
OneMain Direct Auto Receivables Trust, Series 2018-1A, Class A | ||||||||
3.430% 12/16/24 (a) | 260,970 | 262,840 | ||||||
OSCAR US Funding XI LLC, Series 2019-2A, Class A2 | ||||||||
2.490% 8/10/22 (a) | 385,584 | 386,714 | ||||||
Santander Drive Auto Receivables Trust, Series 2020-2, Class A2A | ||||||||
0.620% 5/15/23 | 2,028,584 | 2,029,804 | ||||||
World Omni Auto Receivables Trust, Series 2019-C, Class A2B, 1 mo. USD LIBOR + .230% | ||||||||
0.336% FRN 2/15/23 | 1,729,416 | 1,729,840 | ||||||
16,068,563 | ||||||||
Commercial Mortgage-Backed Securities — 3.3% | ||||||||
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.606% FRN 7/15/35 (a) | 1,000,000 | 993,754 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.706% FRN 12/15/36 (a) | 1,297,370 | 1,295,750 | ||||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.806% FRN 11/15/35 (a) | 1,582,000 | 1,581,999 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.106% FRN 10/15/36 (a) | 1,645,895 | 1,644,354 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750% | ||||||||
1.856% FRN 12/15/37 (a) | 308,865 | 308,961 | ||||||
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600% | ||||||||
1.706% FRN 5/15/36 (a) | 4,000,000 | 4,002,504 | ||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2018-LAQ, Class A, 1 mo. USD LIBOR + 1.000% | ||||||||
1.106% FRN 6/15/32 (a) | 950,066 | 950,065 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.906% FRN 5/15/36 (a) | 476,000 | 475,851 | ||||||
11,253,238 | ||||||||
Home Equity Asset-Backed Securities — 2.6% | ||||||||
Asset Backed Securities Corp. Home Equity Loan Trust, Series 2006-HE3, Class A4, 1 mo. USD LIBOR + .170% | ||||||||
0.279% FRN 3/25/36 | 30,320 | 30,274 | ||||||
Centex Home Equity Loan Trust | ||||||||
Series 2006-A, Class M1, 1 mo. USD LIBOR + .300% 0.409% FRN 6/25/36 | 979,292 | 968,523 | ||||||
Series 2005-D, Class M3, 1 mo. USD LIBOR + .720% 0.829% FRN 10/25/35 | 1,946,953 | 1,941,840 | ||||||
Citigroup Mortgage Loan Trust, Inc., Series 2006-HE2, Class M1, 1 mo. USD LIBOR + .290% | ||||||||
0.399% FRN 8/25/36 | 1,428,689 | 1,414,201 | ||||||
Home Equity Asset Trust, Series 2005-9, Class M1, 1 mo. USD LIBOR + .615% | ||||||||
0.724% FRN 4/25/36 | 3,123,034 | 3,092,906 | ||||||
RASC Trust, Series 2005-EMX1, Class M1, 1 mo. USD LIBOR + .645% | ||||||||
0.754% FRN 3/25/35 | 1,239,013 | 1,232,066 | ||||||
8,679,810 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Other Asset-Backed Securities — 25.3% | ||||||||
321 Henderson Receivables I LLC, Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% | ||||||||
0.306% FRN 3/15/41 (a) | $ | 179,946 | $ | 178,173 | ||||
321 Henderson Receivables LLC | ||||||||
Series 2006-2A, Class A1, 1 mo. USD LIBOR + .200% 0.306% FRN 6/15/41 (a) | 858,040 | 836,635 | ||||||
Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200% 0.306% FRN 9/15/41 (a) | 95,617 | 93,751 | ||||||
Series 2006-4A, Class A1, 1 mo. USD LIBOR + .200% 0.306% FRN 12/15/41 (a) | 93,294 | 92,679 | ||||||
Series 2007-1A, Class A1, 1 mo. USD LIBOR + .200% 0.306% FRN 3/15/42 (a) | 509,002 | 492,171 | ||||||
Affirm Asset Securitization Trust | ||||||||
Series 2020-Z2, Class A, 1.900% 1/15/25 (a) | 3,293,788 | 3,320,653 | ||||||
Series 2020-A, Class A, 2.100% 2/18/25 (a) | 6,800,000 | 6,871,495 | ||||||
Series 2020-Z1, Class A, 3.460% 10/15/24 (a) | 1,951,782 | 1,978,210 | ||||||
Series 2020-A, Class B, 3.540% 2/18/25 (a) | 1,000,000 | 1,022,072 | ||||||
AIMCO CLO, Series 2015-AA, Class AR, 3 mo. USD LIBOR + .850% | ||||||||
1.091% FRN 1/15/28 (a) | 2,197,790 | 2,197,942 | ||||||
Arbor Realty Commercial Real Estate Notes, Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.150% | ||||||||
1.256% FRN 6/15/28 (a) | 780,000 | 780,239 | ||||||
Avant Loans Funding Trust, Series 2019-B, Class A | ||||||||
2.720% 10/15/26 (a) | 203,385 | 203,662 | ||||||
Avery Point IV CLO Ltd., Series 2014-1A, Class AR, 3 mo. USD LIBOR + 1.100% | ||||||||
1.318% FRN 4/25/26 (a) | 26,203 | 26,210 | ||||||
Carlyle Global Market Strategies CLO Ltd., Series 2013-2A, Class AR, 3 mo. USD LIBOR + .890% | ||||||||
1.113% FRN 1/18/29 (a) | 1,997,380 | 1,997,430 | ||||||
CCG Receivables Trust, Series 2018-2, Class A2 | ||||||||
3.090% 12/15/25 (a) | 157,105 | 158,161 | ||||||
Citigroup Mortgage Loan Trust, Inc., Series 2006-WFH2, Class M1, 1 mo. USD LIBOR + .405% | ||||||||
0.514% FRN 8/25/36 | 2,080,793 | 2,062,847 | ||||||
Crossroads Asset Trust, Series 2021-A, Class A2 | ||||||||
0.820% 3/20/24 (a) | 690,000 | 688,973 | ||||||
Elara HGV Timeshare Issuer LLC, Series 2014-A, Class B, | ||||||||
3.020% VRN 2/25/27 (a) (b) | 71,804 | 71,736 | ||||||
FCI Funding LLC, Series 2019-1A, Class A | ||||||||
3.630% 2/18/31 (a) | 112,172 | 113,828 | ||||||
First Franklin Mortgage Loan Trust | ||||||||
Series 2006-FF15, Class A5, 1 mo. USD LIBOR + .160% 0.269% FRN 11/25/36 | 923,585 | 904,551 | ||||||
Series 2005-FF9, Class A4, 1 mo. USD LIBOR + .720% 0.829% FRN 10/25/35 | 978,787 | 973,579 | ||||||
FNA VI LLC, Series 2021-1A, Class A | ||||||||
1.350% 1/10/32 (a) | 4,459,109 | 4,451,788 | ||||||
JP Morgan Mortgage Acquisition Trust, Series 2007-CH3, Class A5, 1 mo. USD LIBOR + .260% | ||||||||
0.369% FRN 3/25/37 | 346,834 | 341,041 | ||||||
KREF Ltd. | ||||||||
Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.100% 1.208% FRN 6/15/36 (a) | 3,957,991 | 3,957,963 | ||||||
Series 2018-FL1, Class AS, 1 mo. USD LIBOR + 1.350% 1.458% FRN 6/15/36 (a) | 2,000,000 | 1,998,743 | ||||||
Series 2018-FL1, Class D, 1 mo. USD LIBOR + 2.550% 2.658% FRN 6/15/36 (a) | 2,450,000 | 2,431,636 | ||||||
LCM Ltd., Series 19A, Class AR, 3 mo. USD LIBOR + 1.240% | ||||||||
1.481% FRN 7/15/27 (a) | 1,078,257 | 1,078,431 | ||||||
Lendmark Funding Trust | ||||||||
Series 2019-2A, Class A, 2.780% 4/20/28 (a) | 6,600,000 | 6,779,513 | ||||||
Series 2018-1A, Class A, 3.810% 12/21/26 (a) | 630,000 | 641,572 | ||||||
Series 2018-2A, Class A, 4.230% 4/20/27 (a) | 1,000,000 | 1,021,486 | ||||||
Long Beach Mortgage Loan Trust | ||||||||
Series 2004-5, Class A1, 1 mo. USD LIBOR + .320% 0.429% FRN 9/25/34 | 1,372,985 | 1,370,097 | ||||||
Series 2006-WL1, Class 2A4, 1 mo. USD LIBOR + .680% 0.789% FRN 1/25/46 | 485,140 | 479,781 | ||||||
Marlette Funding Trust | ||||||||
Series 2020-1A, Class B, 2.380% 3/15/30 (a) | 3,200,000 | 3,243,700 | ||||||
Series 2019-4A, Class A, 2.390% 12/17/29 (a) | 2,180,033 | 2,196,679 | ||||||
Series 2019-3A, Class A, 2.690% 9/17/29 (a) | 1,090,907 | 1,097,075 | ||||||
Series 2019-2A, Class A, 3.130% 7/16/29 (a) | 1,643,565 | 1,656,361 | ||||||
Series 2019-1A, Class A, 3.440% 4/16/29 (a) | 2,034,377 | 2,046,601 | ||||||
Series 2019-2A, Class B, 3.530% 7/16/29 (a) | 1,985,000 | 2,025,820 | ||||||
Series 2018-3A, Class B, 3.860% 9/15/28 (a) | 62,952 | 63,029 | ||||||
MVW Owner Trust, Series 2017-1A, Class A | ||||||||
2.420% 12/20/34 (a) | 59,593 | 61,486 | ||||||
Neuberger Berman CLO XX Ltd., Series 2015-20A, Class AR, 3 mo. USD LIBOR + .800% | ||||||||
1.041% FRN 1/15/28 (a) | 2,083,470 | 2,083,561 | ||||||
New Residential Advance Receivables Trust Advance Receivables Backed, Series 2020-T1, Class AT1 | ||||||||
1.426% 8/15/53 (a) | 2,250,000 | 2,253,090 | ||||||
NP SPE II LLC, Series 2019-1A, Class A1 | ||||||||
2.574% 9/20/49 (a) | 313,333 | 321,615 | ||||||
NRZ Advance Receivables Trust, Series 2020-T3, Class CT3 | ||||||||
1.814% 10/15/52 (a) | 894,000 | 893,999 | ||||||
OCP CLO Ltd., Series 2015-10A, Class A1R, 3 mo. USD LIBOR + .820% | ||||||||
1.035% FRN 10/26/27 (a) | 1,034,495 | 1,034,576 | ||||||
Orange Lake Timeshare Trust, Series 2016-A, Class A | ||||||||
2.610% 3/08/29 (a) | 141,594 | 142,949 | ||||||
PFS Financing Corp., Series 2019-B, Class B, 1 mo. USD LIBOR + .800% | ||||||||
0.906% FRN 9/15/23 (a) | 900,000 | 900,665 | ||||||
Planet Fitness Master Issuer LLC, Series 2018-1A, Class A2I | ||||||||
4.262% 9/05/48 (a) | 2,340,000 | 2,378,514 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | ||||||||
2.959% FRN 2/25/23 (a) | 440,000 | 439,474 | ||||||
RAMP Trust, Series 2005-EFC5, Class M2, ABS, FRN, 1 mo. USD LIBOR + .440% | ||||||||
0.769% FRN 10/25/35 | 1,360,953 | 1,358,096 | ||||||
Saxon Asset Securities Trust, Series 2006-2, Class A3C, 1 mo. USD LIBOR + .150% | ||||||||
0.259% FRN 9/25/36 | 278,026 | 277,869 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Sierra Receivables Funding LLC | ||||||||
Series 2019-3A, Class C, 3.000% 8/20/36 (a) | $ | 1,817,079 | $ | 1,842,801 | ||||
Series 2019-1A, Class C, 3.770% 1/20/36 (a) | 397,849 | 408,171 | ||||||
Series 2019-3A, Class D, 4.180% 8/20/36 (a) | 465,275 | 468,157 | ||||||
Series 2019-1A, Class D, 4.750% 1/20/36 (a) | 359,959 | 371,109 | ||||||
SoFi Consumer Loan Program LLC | ||||||||
Series 2017-4, Class A, 2.500% 5/26/26 (a) | 14,589 | 14,608 | ||||||
Series 2017-6, Class A2, 2.820% 11/25/26 (a) | 24,105 | 24,142 | ||||||
Series 2016-1A, Class A, 3.260% 8/25/25 (a) | 135,082 | 135,302 | ||||||
Series 2016-2A, Class B, 4.770% VRN 10/27/25 (a) (b) | 1,001,041 | 1,003,789 | ||||||
Structured Asset Investment Loan Trust, Series 2005-2, Class M2, 1 mo. USD LIBOR + .735% | ||||||||
0.844% FRN 3/25/35 | 1,723,325 | 1,715,332 | ||||||
Structured Asset Securities Corp. Mortgage Loan Trust | ||||||||
Series 2006-BC6, Class A4, 1 mo. USD LIBOR + .170% 0.279% FRN 1/25/37 | 485,245 | 475,216 | ||||||
Series 2006-WF1, Class M4, 1 mo. USD LIBOR + .645% 0.754% FRN 2/25/36 | 510,000 | 501,913 | ||||||
Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + 1.200% 0.909% FRN 11/25/35 (a) | 948,828 | 919,188 | ||||||
TLF National Tax Lien Trust, Series 2017-1A, Class A | ||||||||
3.090% 12/15/29 (a) | 37,805 | 38,044 | ||||||
Trip Rail Master Funding LLC, Series 2017-1A, Class A1 | ||||||||
2.709% 8/15/47 (a) | 37,881 | 37,905 | ||||||
Upstart Securitization Trust, Series 2020-3, Class A | ||||||||
1.702% 11/20/30 (a) | 3,052,799 | 3,077,136 | ||||||
Verizon Owner Trust., Series 2018-1A, Class A1A | ||||||||
2.820% 9/20/22 (a) | 122,554 | 122,758 | ||||||
Westgate Resorts LLC | ||||||||
Series 2017-1A, Class A, 3.050% 12/20/30 (a) | 164,343 | 165,880 | ||||||
Series 2018-1A, Class A, 3.380% 12/20/31 (a) | 276,360 | 280,273 | ||||||
85,693,931 | ||||||||
Student Loans Asset-Backed Securities — 8.8% | ||||||||
Brazos Higher Education Authority, Inc. | ||||||||
Series 2006-2, Class A10, 3 mo. USD LIBOR + .120% 0.321% FRN 6/25/26 | 890,634 | 888,971 | ||||||
Series 2006-2, Class B2, 1.603% 6/25/42 | 1,200,000 | 1,178,348 | ||||||
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100% | ||||||||
0.351% FRN 3/28/68 | 2,542,434 | 2,492,262 | ||||||
College Loan Corp. Trust I, Series 2005-2, Class B, 3 mo. USD LIBOR + .490% | ||||||||
0.731% FRN 1/15/37 | 388,390 | 347,998 | ||||||
Commonbond Student Loan Trust | ||||||||
Series 2021-AGS, Class B, 1.400% 3/25/52 (a) | 503,000 | 502,744 | ||||||
Series 2018-CGS, Class C, 4.350% 2/25/46 (a) | 28,910 | 28,256 | ||||||
DRB Prime Student Loan Trust | ||||||||
Series 2017-A, Class A1, 1 mo. USD LIBOR + .850% 0.959% FRN 5/27/42 (a) | 817,205 | 817,580 | ||||||
Series 2016-A, Class A1, 1 mo. USD LIBOR + 2.000% 2.109% FRN 4/25/40 (a) | 110,500 | 109,502 | ||||||
Earnest Student Loan Program LLC, Series 2016-B, Class A1, 1 mo. USD LIBOR + 2.050% | ||||||||
2.159% FRN 2/26/35 (a) | 100,104 | 95,048 | ||||||
EdLinc Student Loan Funding Trust, Series 2017-A, Class A, PRIME - 1.150% | ||||||||
2.100% FRN 12/01/47 (a) | 524,298 | 517,748 | ||||||
Edsouth Indenture | ||||||||
No.9 LLC, Series 2015-1, Class A, 1 mo. USD LIBOR + .800% 0.909% FRN 10/25/56 (a) | 327,397 | 324,790 | ||||||
No.10 LLC, Series 2015-2, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 12/25/58 (a) | 1,000,000 | 996,335 | ||||||
ELFI Graduate Loan Program LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + .750% | ||||||||
0.868% FRN 8/25/42 (a) | 341,060 | 338,734 | ||||||
Goal Capital Funding Trust, Series 2010-1, Class A, 3 mo. USD LIBOR + .700% | ||||||||
0.888% FRN 8/25/48 (a) | 224,469 | 225,420 | ||||||
JP Morgan Student Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .350% | ||||||||
0.569% FRN 6/28/39 (a) | 438,102 | 406,568 | ||||||
KeyCorp Student Loan Trust, Series 2005-A, Class 2B, 3 mo. USD LIBOR + .730% | ||||||||
0.981% FRN 9/27/38 | 1,181,367 | 1,182,250 | ||||||
Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX | ||||||||
2.340% 10/25/48 (a) | 384,144 | 374,989 | ||||||
Navient Student Loan Trust | ||||||||
Series 2017-3A, Class A2, 1 mo. USD LIBOR + .600% 0.709% FRN 7/26/66 (a) | 618,757 | 619,982 | ||||||
Series 2017-1A, Class A3, 1 mo. USD LIBOR + 1.150% 1.259% FRN 7/26/66 (a) | 410,000 | 419,597 | ||||||
Series 2015-AA, Class A2B, 1 mo. USD LIBOR + 1.200% 1.306% FRN 12/15/28 (a) | 274,704 | 275,157 | ||||||
Series 2019-3A, Class B, 1 mo. USD LIBOR + 1.550% 1.659% FRN 7/25/68 (a) | 2,900,000 | 2,902,885 | ||||||
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750% | ||||||||
1.859% FRN 12/26/40 (a) | 181,929 | 182,680 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2005-2, Class B, 3 mo. USD LIBOR + .170% 0.357% FRN 3/23/37 | 854,830 | 729,101 | ||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 0.418% FRN 1/25/38 | 616,300 | 536,579 | ||||||
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.451% FRN 6/25/41 | 286,155 | 253,523 | ||||||
Series 2004-3, Class B, 3 mo. USD LIBOR + .350% 0.568% FRN 10/25/40 | 970,195 | 880,853 | ||||||
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 6/25/41 (a) | 375,000 | 373,633 | ||||||
SLC Student Loan Trust | ||||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 0.414% FRN 12/15/39 | 1,078,850 | 962,203 | ||||||
Series 2005-2, Class B, 3 mo. USD LIBOR + .280% 0.464% FRN 3/15/40 | 1,630,699 | 1,479,458 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
SLM Student Loan Trust | ||||||||
Series 2005-5, Class A4, 3 mo. USD LIBOR + .140% 0.358% FRN 10/25/28 | $ | 289,443 | $ | 287,898 | ||||
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 0.418% FRN 1/25/70 | 321,627 | 294,219 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.428% FRN 10/25/40 | 340,287 | 314,082 | ||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .220% 0.438% FRN 1/25/41 | 377,329 | 341,842 | ||||||
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 0.518% FRN 7/25/25 | 189,988 | 188,990 | ||||||
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.528% FRN 1/25/55 | 339,860 | 318,017 | ||||||
Series 2004-8, Class B, 3 mo. USD LIBOR + .460% 0.678% FRN 1/25/40 | 374,993 | 350,794 | ||||||
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 0.688% FRN 10/25/64 | 259,105 | 245,342 | ||||||
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 0.834% FRN 12/15/38 | 379,993 | 348,727 | ||||||
SMB Private Education Loan Trust | ||||||||
Series 2018-B, Class A2B, 1 mo. USD LIBOR + .720% 0.826% FRN 1/15/37 (a) | 1,169,542 | 1,168,081 | ||||||
Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870% 0.976% FRN 7/15/36 (a) | 1,461,606 | 1,471,599 | ||||||
Series 2014-A, Class A2B, 1 mo. USD LIBOR + 1.150% 1.256% FRN 5/15/26 (a) | 342,714 | 343,094 | ||||||
Series 2014-A, Class A2A, 3.050% 5/15/26 (a) | 76,920 | 77,393 | ||||||
SoFi Alternative Trust, Series 2019-C, Class PT, | ||||||||
2.322% VRN 1/25/45 (a) (b) | 1,234,968 | 1,313,475 | ||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2017-A, Class A1, 1 mo. USD LIBOR + .700% 0.809% FRN 3/26/40 (a) | 180,179 | 180,009 | ||||||
Series 2016-A, Class A1, 1 mo. USD LIBOR + 1.750% 1.859% FRN 8/25/36 (a) | 181,946 | 183,129 | ||||||
Series 2019-C, Class A1FX, 2.130% 11/16/48 (a) | 437,399 | 438,720 | ||||||
Series 2016-B, Class A2B, 2.740% 10/25/32 (a) | 1,386,804 | 1,403,499 | ||||||
29,712,104 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 6.0% | ||||||||
Angel Oak Mortgage Trust, Series 2018-3, Class A3, | ||||||||
3.238% VRN 5/25/59 (a) (b) | 826,574 | 834,798 | ||||||
Banc of America Funding, Series 2006-G, Class 2A1, 1 mo. USD LIBOR + .440% | ||||||||
0.551% FRN 7/20/36 | 736,110 | 731,287 | ||||||
BRAVO Residential Funding Trust, Series 2019-NQM1, Class A1, | ||||||||
2.666% VRN 7/25/59 (a) (b) | 4,968,256 | 5,062,235 | ||||||
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000% | ||||||||
1.068% FRN 8/25/49 (a) | 2,233,813 | 2,237,990 | ||||||
Citigroup Mortgage Loan Trust, Series 2019-IMC1, Class A3, | ||||||||
3.030% VRN 7/25/49 (a) (b) | 751,706 | 763,738 | ||||||
HomeBanc Mortgage Trust, Series 2005-3, Class A1, 1 mo. USD LIBOR + .480% | ||||||||
0.589% FRN 7/25/35 | 949,678 | 946,222 | ||||||
JP Morgan Mortgage Trust | ||||||||
Series 2018-1, Class A5, 3.500% VRN 6/25/48 (a) (b) | 27,707 | 27,744 | ||||||
Series 2018-3, Class A5, 3.500% VRN 9/25/48 (a) (b) | 129,394 | 130,226 | ||||||
Series 2017-6, Class A5, 3.500% VRN 12/25/48 (a) (b) | 48,252 | 48,343 | ||||||
Onslow Bay Financial LLC, Series 2020-EXP1, Class 2A2, 1 mo. USD LIBOR + .950% | ||||||||
1.059% FRN 2/25/60 (a) | 1,291,735 | 1,293,692 | ||||||
Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates, Series 2005-4, Class 1APT, 1 mo. USD LIBOR + .620% | ||||||||
0.729% FRN 11/25/35 | 1,034,321 | 1,024,079 | ||||||
Sequoia Mortgage Trust | ||||||||
Series 2018-3, Class A4, 3.500% VRN 3/25/48 (a) (b) | 60,898 | 61,038 | ||||||
Series 2018-CH1, Class A10, 4.000% VRN 2/25/48 (a) (b) | 70,145 | 70,350 | ||||||
Series 2018-CH2, Class A12, 4.000% VRN 6/25/48 (a) (b) | 172,125 | 172,690 | ||||||
Series 2018-CH3, Class A11, 4.000% VRN 8/25/48 (a) (b) | 15,829 | 15,836 | ||||||
STAR Trust, Series 2021-1, Class A3, | ||||||||
1.528% VRN 5/25/65 (a) (b) | 5,040,000 | 5,041,674 | ||||||
Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3, | ||||||||
2.916% VRN 9/27/49 (a) (b) | 919,707 | 936,326 | ||||||
Verus Securitization Trust, Series 2019-INV2, Class A3, | ||||||||
3.219% VRN 7/25/59 (a) (b) | 894,965 | 913,066 | ||||||
20,311,334 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $181,315,107) | 181,723,635 | |||||||
U.S. Government Agency Obligations and Instrumentalities — 9.0% | ||||||||
Pass-Through Securities — 0.1% | ||||||||
Federal Home Loan Mortgage Corp. Pool #1Q0239, 1 year CMT + 2.212% 2.531% 3/01/37 | 168,341 | 177,000 | ||||||
Whole Loans — 8.9% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
Series 2021-DNA1, Class M1, SOFR30A + .650% 0.667% FRN 1/25/51 (a) | 1,453,000 | 1,452,118 | ||||||
Series 2020-DNA6, Class M1, SOFR30A + .900% 0.917% FRN 12/25/50 (a) | 1,514,507 | 1,515,551 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2018-DNA2, Class M2AS, 1 mo. USD LIBOR + .950% 1.059% FRN 12/25/30 (a) | $ | 1,500,000 | $ | 1,498,746 | ||||
Series 2020-DNA5, Class M1, SOFR30A + 1.300% 1.317% FRN 10/25/50 (a) | 846,598 | 847,551 | ||||||
Series 2020-DNA4, Class M1, 1 mo. USD LIBOR + 1.500% 1.609% FRN 8/25/50 (a) | 659,791 | 660,115 | ||||||
Series 2018-DNA3, Class M2A, 1 mo. USD LIBOR + 2.100% 2.209% FRN 9/25/48 (a) | 1,505,000 | 1,510,349 | ||||||
Series 2018-DNA2, Class M2A, 1 mo. USD LIBOR + 2.150% 2.259% FRN 12/25/30 (a) | 3,800,000 | 3,825,202 | ||||||
Series 2020-DNA5, Class M2, SOFR30A + 2.800% 2.817% FRN 10/25/50 (a) | 504,000 | 507,235 | ||||||
Series 2020-DNA3, Class M2, 1 mo. USD LIBOR + 3.000% 3.109% FRN 6/25/50 (a) | 906,214 | 909,259 | ||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust | ||||||||
Series 2019-R05, Class 1M2, 1 mo. USD LIBOR + 2.000% 2.109% FRN 7/25/39 (a) | 6,251,277 | 6,257,223 | ||||||
Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% 2.259% FRN 9/25/31 (a) | 7,306,275 | 7,322,615 | ||||||
Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 2.409% FRN 8/25/31 (a) | 4,090,317 | 4,093,007 | ||||||
30,398,971 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $30,618,056) | 30,575,971 | |||||||
U.S. Treasury Obligations — 22.0% | ||||||||
U.S. Treasury Bonds & Notes — 22.0% | ||||||||
U.S. Treasury Inflation Index | ||||||||
0.125% 7/15/24 | 1,542,100 | 1,668,239 | ||||||
0.125% 10/15/24 | 2,548,525 | 2,755,891 | ||||||
0.125% 4/15/25 | 607,536 | 657,527 | ||||||
0.125% 10/15/25 | 5,241,600 | 5,707,713 | ||||||
0.125% 7/15/26 | 2,782,382 | 3,039,208 | ||||||
0.125% 1/15/30 | 2,439,768 | 2,636,522 | ||||||
0.125% 7/15/30 | 816,088 | 884,563 | ||||||
0.125% 1/15/31 | 6,128,853 | 6,590,193 | ||||||
0.125% 2/15/51 | 1,004,590 | 1,004,747 | ||||||
0.250% 1/15/25 | 2,236,106 | 2,427,704 | ||||||
0.250% 7/15/29 | 3,425,342 | 3,764,798 | ||||||
0.250% 2/15/50 | 2,161,784 | 2,242,766 | ||||||
0.375% 7/15/25 (c) | 2,889,598 | 3,182,113 | ||||||
0.375% 1/15/27 | 2,382,028 | 2,626,000 | ||||||
0.375% 7/15/27 | 2,726,460 | 3,022,483 | ||||||
0.500% 4/15/24 | 1,244,424 | 1,348,572 | ||||||
0.500% 1/15/28 | 1,351,921 | 1,504,329 | ||||||
0.625% 4/15/23 | 2,105,920 | 2,241,406 | ||||||
0.625% 1/15/24 | 2,578,139 | 2,794,360 | ||||||
0.625% 1/15/26 | 1,348,394 | 1,498,693 | ||||||
0.625% 2/15/43 | 910,080 | 1,023,520 | ||||||
0.750% 7/15/28 | 1,901,559 | 2,166,366 | ||||||
0.750% 2/15/42 | 1,099,616 | 1,265,481 | ||||||
0.750% 2/15/45 | 1,832,639 | 2,108,859 | ||||||
0.875% 1/15/29 | 2,071,640 | 2,373,039 | ||||||
0.875% 2/15/47 | 541,745 | 648,454 | ||||||
1.000% 2/15/48 | 848,496 | 1,048,821 | ||||||
1.000% 2/15/49 | 467,726 | 581,770 | ||||||
1.375% 2/15/44 | 1,010,007 | 1,312,792 | ||||||
2.000% 1/15/26 | 790,656 | 934,040 | ||||||
2.125% 2/15/40 | 363,024 | 518,493 | ||||||
2.125% 2/15/41 | 776,308 | 1,118,445 | ||||||
2.375% 1/15/25 | 2,011,933 | 2,356,516 | ||||||
2.500% 1/15/29 | 730,920 | 934,250 | ||||||
3.375% 4/15/32 | 368,375 | 536,072 | ||||||
3.625% 4/15/28 | 727,686 | 979,249 | ||||||
3.875% 4/15/29 | 2,227,372 | 3,123,759 | ||||||
74,627,753 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $74,057,656) | 74,627,753 | |||||||
TOTAL BONDS & NOTES (Cost $287,045,559) | 288,440,645 | |||||||
TOTAL PURCHASED OPTIONS (#) — 0.5% (Cost $1,845,236) | 1,816,671 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $288,890,795) | 290,257,316 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 14.3% | ||||||||
Commercial Paper — 13.9% | ||||||||
Amcor Flexibles North American, Inc. | ||||||||
0.203% 4/29/21 (a) | $ | 1,000,000 | $ | 999,856 | ||||
American Electric Power Co., Inc. | ||||||||
0.203% 4/19/21 (a) | 2,000,000 | 1,999,826 | ||||||
AT&T, Inc. | ||||||||
0.346% 9/21/21 (a) | 4,000,000 | 3,994,857 | ||||||
BAT International Finance PLC | ||||||||
0.304% 4/22/21 (a) | 4,000,000 | 3,999,587 | ||||||
Dominion Resources | ||||||||
0.203% 4/12/21 | 2,000,000 | 1,999,896 | ||||||
Duke Energy Corp. | ||||||||
0.172% 4/06/21 (a) | 3,000,000 | 2,999,952 | ||||||
E.I. du Point Nemours & Co. | ||||||||
0.233% 5/17/21 (a) | 4,000,000 | 3,998,914 | ||||||
Entergy Corp. | ||||||||
0.193% 4/05/21 (a) | 3,000,000 | 2,999,955 | ||||||
0.254% 4/20/21 (a) | 4,000,000 | 3,999,518 | ||||||
Holcim US Finance SARL & Cie | ||||||||
0.223% 4/23/21 (a) | 4,000,000 | 3,999,563 | ||||||
Intercontinental Exchange, Inc. | ||||||||
0.355% 4/05/21 (a) | 1,000,000 | 999,965 | ||||||
Southern Power Co. | ||||||||
0.193% 4/05/21 (a) | 2,000,000 | 1,999,958 | ||||||
Spire, Inc. | ||||||||
0.193% 4/16/21 (a) | 4,000,000 | 3,999,714 | ||||||
Volkswagen Credit, Inc | ||||||||
0.244% 4/19/21 (a) | 4,000,000 | 3,999,652 | ||||||
Waste Management, Inc. | ||||||||
0.356% 7/01/21 (a) | 5,000,000 | 4,996,703 | ||||||
46,987,916 | ||||||||
Repurchase Agreement — 0.4% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (d) | 1,358,916 | 1,358,916 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $48,343,526) | 48,346,832 | |||||||
TOTAL INVESTMENTS — 99.9% (Cost $337,234,321) (e) | 338,604,148 | |||||||
Other Assets/(Liabilities) — 0.1% | 293,011 | |||||||
NET ASSETS — 100.0% | $ | 338,897,159 |
Abbreviation Legend
CLO Collateralized Loan Obligation
FRN Floating Rate Note
VRN Variable Rate Note
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $216,140,015 or 63.78% of net assets. |
(b) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at March 31, 2021. |
(c) | A portion of this security is pledged/held as collateral for open derivatives. |
(d) | Maturity value of $1,358,916. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $1,386,104. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
(#) Interest Rate Swaptions Purchased
Paid by Fund | Received by Fund | |||||||||||||||||||||||||||
Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional Amount | Value | Premium Paid (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
Call | ||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 3-Month USD LIBOR BBA | Quaterly | 2.44% | Semi-Annually | USD | 1,967,000 | $ | 113,889 | $ | 98,334 | $ | 15,555 | ||||||||||||||
Put | ||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 2.94% | Semi-Annually | 3-Month USD LIBOR BBA | Quaterly | USD | 22,880,000 | $ | 1,137,365 | $ | 1,143,841 | $ | (6,476 | ) | |||||||||||||
10-Year Interest Rate Swap, 2/02/43 | Credit Suisse International | 1/31/33 | 3.11% | Semi-Annually | 3-Month USD LIBOR BBA | Quaterly | USD | 12,590,000 | 565,417 | 603,061 | (37,644 | ) | ||||||||||||||||
1,702,782 | 1,746,902 | (44,120 | ) | |||||||||||||||||||||||||
$ | 1,816,671 | $ | 1,845,236 | $ | (28,565 | ) |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Futures contracts | ||||||||||||
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||
Long | ||||||||||||
U.S. Treasury Long Bond | 6/21/21 | 33 | $ | 5,300,218 | $ | (198,624 | ) | |||||
U.S. Treasury Note 2 Year | 6/30/21 | 74 | 16,340,887 | (7,121 | ) | |||||||
U.S. Treasury Note 5 Year | 6/30/21 | 2 | 247,194 | (397 | ) | |||||||
$ | (206,142 | ) | ||||||||||
Short | ||||||||||||
U.S. Treasury Ultra 10 Year | 6/21/21 | 48 | $ | (6,936,500 | ) | $ | 39,500 | |||||
U.S. Treasury Ultra Bond | 6/21/21 | 11 | (2,065,700 | ) | 72,294 | |||||||
$ | 111,794 |
OTC Interest Rate Swaps
Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||
Rate/ Reference | Frequency | Rate/ Reference | Frequency | Counterparty | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||
1.978% | Maturity | U.S. Consumer Price Index | Maturity | Bank of America N.A. | 12/24/22 | USD | 2,000,000 | $ | 29,759 | $ | — | $ | 29,759 | |||||||||||||
1.833% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs International | 8/28/23 | USD | 500,000 | 15,245 | — | 15,245 | ||||||||||||||||
1.880% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs International | 8/28/25 | USD | 2,000,000 | 86,149 | — | 86,149 | ||||||||||||||||
2.000% | Maturity | U.S. Consumer Price Index | Maturity | JP Morgan Chase Bank N.A. | 12/24/23 | USD | 4,000,000 | 79,793 | — | 79,793 | ||||||||||||||||
2.295% | Maturity | U.S. Consumer Price Index | Maturity | JP Morgan Chase Bank N.A. | 1/26/26 | USD | 10,000,000 | 152,264 | — | 152,264 | ||||||||||||||||
$ | 363,210 | — | $ | 363,210 |
OTC Total Return Swaps
Paid by the Fund | Received by the Fund | |||||||||||||||||||||||
Rate/ Reference | Frequency | Rate/ Reference | Frequency | Counterparty | Termination Date | No. of Contracts/ Notional | Value | Upfront Premium Received (Paid)/ Received | Unrealized Appreciation (Depreciation) | |||||||||||||||
0.24% | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | Maturity | BNP Paribas SA | 7/30/21 | $43,803,722 | $ | (786,653 | ) | $ | — | $ | (786,653 | ) | ||||||||||
0.24% | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | Maturity | BNP Paribas SA | 8/31/21 | 64,759,039 | (121,729 | ) | — | (121,729 | ) | |||||||||||||
0.26% | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | Maturity | Goldman Sachs International | 5/28/21 | 33,123,588 | 257,278 | — | 257,278 | |||||||||||||||
0.24% | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | Maturity | Goldman Sachs International | 7/30/21 | 55,262,635 | (992,439 | ) | — | (992,439 | ) | |||||||||||||
0.24% | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | Maturity | Goldman Sachs International | 8/31/21 | 53,965,865 | (101,440 | ) | — | (101,440 | ) | |||||||||||||
$ | (1,744,983 | ) | $ | — | $ | (1,744,983 | ) |
Currency Legend
USD U.S. Dollar
MML Managed Bond Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Principal Amount | Value | |||||||
Bonds & Notes — 98.2% | ||||||||
Corporate Debt — 38.0% | ||||||||
Aerospace & Defense — 0.7% | ||||||||
BAE Systems PLC | ||||||||
1.900% 2/15/31 (a) | $ | 595,000 | $ | 555,896 | ||||
The Boeing Co. | ||||||||
1.433% 2/04/24 | 5,060,000 | 5,068,906 | ||||||
Raytheon Technologies Corp. | ||||||||
4.500% 6/01/42 | 1,000,000 | 1,189,527 | ||||||
6,814,329 | ||||||||
Agriculture — 0.7% | ||||||||
BAT Capital Corp. | ||||||||
2.259% 3/25/28 | 725,000 | 713,259 | ||||||
4.700% 4/02/27 | 1,050,000 | 1,181,341 | ||||||
4.758% 9/06/49 | 540,000 | 553,235 | ||||||
Imperial Brands Finance PLC | ||||||||
3.875% 7/26/29 (a) | 2,764,000 | 2,937,190 | ||||||
Reynolds American, Inc. | ||||||||
5.850% 8/15/45 | 985,000 | 1,158,278 | ||||||
6,543,303 | ||||||||
Airlines — 0.3% | ||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd. | ||||||||
4.500% 10/20/25 (a) | 980,000 | 1,043,560 | ||||||
Spirit Airlines Pass-Through Trust, Series 2015-1, Class A, | ||||||||
4.100% 10/01/29 | 1,384,317 | 1,381,686 | ||||||
United Airlines Pass-Through Trust, Series 2018-1, Class B, | ||||||||
4.600% 9/01/27 | 438,326 | 443,288 | ||||||
2,868,534 | ||||||||
Auto Manufacturers — 0.7% | ||||||||
Ford Motor Credit Co. LLC | ||||||||
3.087% 1/09/23 | 1,410,000 | 1,432,884 | ||||||
4.140% 2/15/23 | 1,360,000 | 1,405,424 | ||||||
General Motors Co. | ||||||||
4.200% 10/01/27 | 565,000 | 619,732 | ||||||
5.150% 4/01/38 | 800,000 | 914,238 | ||||||
6.800% 10/01/27 | 1,890,000 | 2,343,462 | ||||||
6,715,740 | ||||||||
Banks — 5.8% | ||||||||
Associated Banc-Corp. | ||||||||
4.250% 1/15/25 | 2,411,000 | 2,596,756 | ||||||
Banco Santander SA | ||||||||
2.958% 3/25/31 | 1,600,000 | 1,589,485 | ||||||
Bank of America Corp. | ||||||||
SOFR + 2.150% 2.592% VRN 4/29/31 | 1,255,000 | 1,250,837 | ||||||
4.183% 11/25/27 | 1,090,000 | 1,211,563 | ||||||
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38 | 1,150,000 | 1,305,495 | ||||||
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29 | 475,000 | 533,744 | ||||||
6.110% 1/29/37 | 1,550,000 | 2,049,599 | ||||||
7.750% 5/14/38 | 400,000 | 612,842 | ||||||
The Bank of Nova Scotia 3 mo. USD LIBOR + 2.648% | ||||||||
4.650% VRN (b) | 3,575,000 | 3,579,683 | ||||||
Barclays Bank PLC | ||||||||
10.179% 6/12/21 (a) | 3,351,000 | 3,408,541 | ||||||
Barclays PLC | ||||||||
4.337% 1/10/28 | 920,000 | 1,020,475 | ||||||
BPCE SA SOFR + 1.520% | ||||||||
1.652% VRN 10/06/26 (a) | 3,635,000 | 3,624,993 | ||||||
Citigroup, Inc. | ||||||||
4.450% 9/29/27 | 450,000 | 506,770 | ||||||
6.625% 6/15/32 | 375,000 | 496,045 | ||||||
Credit Suisse AG | ||||||||
6.500% 8/08/23 (a) | 3,069,000 | 3,375,133 | ||||||
Discover Bank 5 year USD Swap + 1.730% | ||||||||
4.682% VRN 8/09/28 | 2,905,000 | 3,098,473 | ||||||
First Republic Bank | ||||||||
4.375% 8/01/46 | 3,210,000 | 3,670,994 | ||||||
Fulton Financial Corp. | ||||||||
3.600% 3/16/22 | 226,000 | 232,324 | ||||||
The Goldman Sachs Group, Inc. | ||||||||
4.250% 10/21/25 | 550,000 | 613,939 | ||||||
5.950% 1/15/27 | 1,410,000 | 1,703,643 | ||||||
6.750% 10/01/37 | 1,145,000 | 1,610,698 | ||||||
HSBC Holdings PLC | ||||||||
4.250% 3/14/24 | 1,225,000 | 1,331,619 | ||||||
4.250% 8/18/25 | 2,662,000 | 2,925,613 | ||||||
ING Groep NV SOFR + .920% | ||||||||
1.726% VRN 4/01/27 (c) | 1,153,000 | 1,151,347 | ||||||
JP Morgan Chase & Co. | ||||||||
5.600% 7/15/41 | 1,125,000 | 1,500,394 | ||||||
Mizrahi Tefahot Bank Ltd. 5 year CMT + 2.250% | ||||||||
3.077% VRN 4/07/31 (a) (c) | 2,780,000 | 2,776,525 | ||||||
Morgan Stanley | ||||||||
4.350% 9/08/26 | 3,200,000 | 3,617,201 | ||||||
Nordea Bank Abp 5 year CMT + 4.110% | ||||||||
6.625% VRN (a) (b) | 2,208,000 | 2,522,640 | ||||||
Valley National Bancorp | ||||||||
5.125% 9/27/23 | 1,530,000 | 1,668,762 | ||||||
Wells Fargo & Co. | ||||||||
5.375% 11/02/43 | 909,000 | 1,134,197 | ||||||
56,720,330 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Beverages — 0.6% | ||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||||||||
4.900% 2/01/46 | $ | 3,475,000 | $ | 4,115,862 | ||||
Bacardi Ltd. | ||||||||
5.150% 5/15/38 (a) | 450,000 | 537,084 | ||||||
Molson Coors Beverage Co. | ||||||||
4.200% 7/15/46 | 1,124,000 | 1,167,567 | ||||||
5.000% 5/01/42 | 360,000 | 414,204 | ||||||
6,234,717 | ||||||||
Chemicals — 0.9% | ||||||||
DuPont de Nemours, Inc. | ||||||||
5.319% 11/15/38 | 1,750,000 | 2,193,638 | ||||||
Nutrition & Biosciences, Inc. | ||||||||
1.832% 10/15/27 (a) | 755,000 | 737,783 | ||||||
Syngenta Finance NV | ||||||||
4.441% 4/24/23 (a) | 2,065,000 | 2,163,302 | ||||||
Yara International ASA | ||||||||
3.148% 6/04/30 (a) | 295,000 | 303,542 | ||||||
4.750% 6/01/28 (a) | 3,328,000 | 3,788,819 | ||||||
9,187,084 | ||||||||
Computers — 0.9% | ||||||||
Apple, Inc. | ||||||||
2.650% 5/11/50 | 700,000 | 634,272 | ||||||
Dell International LLC/EMC Corp. | ||||||||
6.020% 6/15/26 (a) | 2,702,000 | 3,197,405 | ||||||
8.100% 7/15/36 (a) | 325,000 | 475,738 | ||||||
Genpact Luxembourg Sarl | ||||||||
3.700% STEP 4/01/22 | 2,400,000 | 2,459,841 | ||||||
Leidos, Inc. | ||||||||
2.300% 2/15/31 (a) | 1,260,000 | 1,188,634 | ||||||
4.375% 5/15/30 (a) | 575,000 | 639,193 | ||||||
8,595,083 | ||||||||
Diversified Financial Services — 3.5% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
4.500% 9/15/23 | 1,370,000 | 1,473,520 | ||||||
6.500% 7/15/25 | 645,000 | 751,655 | ||||||
Aircastle Ltd. | ||||||||
4.400% 9/25/23 | 3,095,000 | 3,296,081 | ||||||
Antares Holdings LP | ||||||||
3.950% 7/15/26 (a) | 1,035,000 | 1,043,315 | ||||||
6.000% 8/15/23 (a) | 2,945,000 | 3,088,504 | ||||||
8.500% 5/18/25 (a) | 720,000 | 840,812 | ||||||
Ares Finance Co. LLC | ||||||||
4.000% 10/08/24 (a) | 2,080,000 | 2,216,410 | ||||||
Aviation Capital Group LLC | ||||||||
1.950% 1/30/26 (a) | 1,220,000 | 1,188,125 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
3.250% 2/15/27 (a) | 1,365,000 | 1,353,124 | ||||||
Brookfield Finance, Inc. | ||||||||
4.350% 4/15/30 | 2,825,000 | 3,186,948 | ||||||
4.850% 3/29/29 | 1,752,000 | 2,023,407 | ||||||
GE Capital International Funding Co. Unlimited Co. | ||||||||
4.418% 11/15/35 | 335,000 | 383,949 | ||||||
Global Aircraft Leasing Co. Ltd. | ||||||||
6.500% 9/15/24 (a) | 1,449,648 | 1,390,212 | ||||||
Lazard Group LLC | ||||||||
3.625% 3/01/27 | 1,253,000 | 1,349,772 | ||||||
4.500% 9/19/28 | 755,000 | 851,219 | ||||||
LeasePlan Corp. NV | ||||||||
2.875% 10/24/24 (a) | 1,535,000 | 1,613,723 | ||||||
Legg Mason, Inc. | ||||||||
5.625% 1/15/44 | 1,195,000 | 1,557,039 | ||||||
Park Aerospace Holdings Ltd. | ||||||||
4.500% 3/15/23 (a) | 1,550,000 | 1,618,742 | ||||||
5.250% 8/15/22 (a) | 5,055,000 | 5,306,704 | ||||||
34,533,261 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Electric — 1.4% | ||||||||
Appalachian Power Co. | ||||||||
4.500% 3/01/49 | $ | 1,250,000 | $ | 1,418,099 | ||||
CMS Energy Corp. | ||||||||
4.875% 3/01/44 | 780,000 | 922,205 | ||||||
Entergy Arkansas LLC | ||||||||
2.650% 6/15/51 | 1,765,000 | 1,555,907 | ||||||
Entergy Louisiana LLC | ||||||||
4.950% 1/15/45 | 1,005,000 | 1,089,409 | ||||||
FirstEnergy Transmission LLC | ||||||||
4.550% 4/01/49 (a) | 880,000 | 925,435 | ||||||
Infraestructura Energetica Nova SAB de CV | ||||||||
3.750% 1/14/28 (a) | 820,000 | 870,225 | ||||||
ITC Holdings Corp. | ||||||||
2.950% 5/14/30 (a) | 895,000 | 911,666 | ||||||
Nevada Power Co. | ||||||||
6.650% 4/01/36 | 550,000 | 770,989 | ||||||
Oncor Electric Delivery Co. | ||||||||
7.500% 9/01/38 | 495,000 | 757,522 | ||||||
Pacific Gas and Electric Co. | ||||||||
2.500% 2/01/31 | 775,000 | 731,313 | ||||||
Potomac Electric Power Co. | ||||||||
4.150% 3/15/43 | 700,000 | 788,669 | ||||||
Tampa Electric Co. | ||||||||
2.400% 3/15/31 | 1,320,000 | 1,310,504 | ||||||
Xcel Energy, Inc. | ||||||||
6.500% 7/01/36 | 1,250,000 | 1,766,034 | ||||||
13,817,977 | ||||||||
Food — 0.3% | ||||||||
Flowers Foods, Inc. | ||||||||
2.400% 3/15/31 | 690,000 | 672,550 | ||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||
5.500% 1/15/30 (a) | 776,000 | 858,834 | ||||||
Smithfield Foods, Inc. | ||||||||
3.000% 10/15/30 (a) | 943,000 | 937,804 | ||||||
2,469,188 | ||||||||
Gas — 0.6% | ||||||||
CenterPoint Energy Resources Corp. | ||||||||
6.625% 11/01/37 | 1,250,000 | 1,655,526 | ||||||
NiSource, Inc. | ||||||||
4.800% 2/15/44 | 1,035,000 | 1,206,728 | ||||||
5.800% 2/01/42 | 950,000 | 1,193,801 | ||||||
Piedmont Natural Gas Co., Inc. | ||||||||
2.500% 3/15/31 | 1,915,000 | 1,893,530 | ||||||
5,949,585 | ||||||||
Health Care – Services — 0.1% | ||||||||
City of Hope | ||||||||
4.378% 8/15/48 | 1,050,000 | 1,227,034 | ||||||
Insurance — 5.0% | ||||||||
Allstate Corp. 3 mo. USD LIBOR + 2.938% | ||||||||
5.750% VRN 8/15/53 | 4,260,000 | 4,504,950 | ||||||
American International Group, Inc. | ||||||||
4.500% 7/16/44 | 725,000 | 818,750 | ||||||
3 mo. USD LIBOR + 2.868% 5.750% VRN 4/01/48 | 3,087,000 | 3,442,005 | ||||||
AmTrust Financial Services, Inc. | ||||||||
6.125% 8/15/23 | 3,370,000 | 3,371,826 | ||||||
Arch Capital Group US, Inc. | ||||||||
5.144% 11/01/43 | 540,000 | 661,234 | ||||||
Athene Global Funding | ||||||||
2.500% 1/14/25 (a) | 1,390,000 | 1,439,371 | ||||||
Athene Holding Ltd. | ||||||||
6.150% 4/03/30 | 3,300,000 | 4,020,252 | ||||||
AXIS Specialty Finance LLC | ||||||||
3.900% 7/15/29 | 1,110,000 | 1,192,077 | ||||||
5 year CMT + 3.186% 4.900% VRN 1/15/40 | 1,315,000 | 1,347,875 | ||||||
AXIS Specialty Finance PLC | ||||||||
4.000% 12/06/27 | 2,500,000 | 2,798,706 | ||||||
Brighthouse Financial, Inc. | ||||||||
3.700% 6/22/27 | 785,000 | 830,048 | ||||||
4.700% 6/22/47 | 1,125,000 | 1,151,418 | ||||||
5.625% 5/15/30 | 2,492,000 | 2,912,987 | ||||||
CNO Financial Group, Inc. | ||||||||
5.250% 5/30/29 | 2,094,000 | 2,411,759 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Enstar Group Ltd. | ||||||||
4.950% 6/01/29 | $ | 1,600,000 | $ | 1,787,282 | ||||
Markel Corp. 5 year CMT + 5.662% | ||||||||
6.000% VRN (b) | 930,000 | 1,011,375 | ||||||
MetLife Capital Trust IV | ||||||||
7.875% 12/15/67 (a) | 725,000 | 1,007,569 | ||||||
New York Life Insurance Co. | ||||||||
3.750% 5/15/50 (a) | 510,000 | 535,272 | ||||||
Prudential Financial, Inc. | ||||||||
5 year CMT + 3.035% 3.700% VRN 10/01/50 | 460,000 | 465,152 | ||||||
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43 | 1,025,000 | 1,098,213 | ||||||
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48 | 2,440,000 | 2,786,594 | ||||||
3 mo. USD LIBOR + 4.175% 5.875% VRN 9/15/42 | 550,000 | 580,712 | ||||||
Reinsurance Group of America, Inc. | ||||||||
3.150% 6/15/30 | 1,160,000 | 1,199,012 | ||||||
RenaissanceRe Finance, Inc. | ||||||||
3.450% 7/01/27 | 1,860,000 | 2,008,059 | ||||||
Teachers Insurance & Annuity Association of America | ||||||||
4.270% 5/15/47 (a) | 750,000 | 840,650 | ||||||
USF&G Capital I | ||||||||
8.500% 12/15/45 (a) | 885,000 | 1,287,673 | ||||||
Voya Financial, Inc. 3 mo. USD LIBOR + 2.084% | ||||||||
4.700% VRN 1/23/48 | 1,080,000 | 1,101,600 | ||||||
Willis North America, Inc. | ||||||||
2.950% 9/15/29 | 905,000 | 933,905 | ||||||
XLIT Ltd. | ||||||||
4.450% 3/31/25 | 1,439,000 | 1,602,280 | ||||||
49,148,606 | ||||||||
Internet — 0.1% | ||||||||
Amazon.com, Inc. | ||||||||
4.050% 8/22/47 | 775,000 | 898,086 | ||||||
Investment Companies — 1.5% | ||||||||
Ares Capital Corp. | ||||||||
2.150% 7/15/26 | 1,850,000 | 1,799,004 | ||||||
4.200% 6/10/24 | 1,450,000 | 1,563,302 | ||||||
BlackRock TCP Capital Corp. | ||||||||
3.900% 8/23/24 | 2,910,000 | 3,085,432 | ||||||
4.125% 8/11/22 | 2,870,000 | 2,968,063 | ||||||
Golub Capital BDC, Inc. | ||||||||
2.500% 8/24/26 | 880,000 | 860,488 | ||||||
Sixth Street Specialty Lending, Inc. | ||||||||
2.500% 8/01/26 | 885,000 | 877,251 | ||||||
3.875% 11/01/24 | 3,575,000 | 3,750,820 | ||||||
14,904,360 | ||||||||
Iron & Steel — 0.2% | ||||||||
Vale Overseas Ltd. | ||||||||
6.250% 8/10/26 | 1,250,000 | 1,486,875 | ||||||
6.875% 11/21/36 | 630,000 | 837,311 | ||||||
2,324,186 | ||||||||
Lodging — 0.1% | ||||||||
Marriott International, Inc. /MD | ||||||||
2.850% 4/15/31 | 1,115,000 | 1,095,682 | ||||||
Machinery – Diversified — 0.2% | ||||||||
CNH Industrial Capital LLC | ||||||||
3.875% 10/15/21 | 2,280,000 | 2,318,590 | ||||||
Media — 1.2% | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
3.900% 6/01/52 | 765,000 | 732,575 | ||||||
6.484% 10/23/45 | 735,000 | 954,713 | ||||||
Comcast Corp. | ||||||||
3.450% 2/01/50 | 940,000 | 966,759 | ||||||
3.969% 11/01/47 | 630,000 | 702,882 | ||||||
4.750% 3/01/44 | 880,000 | 1,078,744 | ||||||
6.950% 8/15/37 | 265,000 | 393,722 | ||||||
Discovery Communications LLC | ||||||||
4.000% 9/15/55 (a) | 1,210,000 | 1,187,194 | ||||||
4.650% 5/15/50 | 490,000 | 538,786 | ||||||
Time Warner Cable, Inc. | ||||||||
6.750% 6/15/39 | 985,000 | 1,317,032 | ||||||
ViacomCBS, Inc. | ||||||||
4.200% 5/19/32 | 872,000 | 977,436 | ||||||
4.950% 1/15/31 | 1,008,000 | 1,191,509 | ||||||
The Walt Disney Co. | ||||||||
3.600% 1/13/51 | 1,515,000 | 1,598,494 | ||||||
11,639,846 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Metal Fabricate & Hardware — 0.2% | ||||||||
The Timken Co. | ||||||||
4.500% 12/15/28 | $ | 2,055,000 | $ | 2,203,395 | ||||
Mining — 0.5% | ||||||||
Glencore Finance Canada Ltd. | ||||||||
5.550% STEP 10/25/42 (a) | 894,000 | 1,087,827 | ||||||
Glencore Funding LLC | ||||||||
3.875% 10/27/27 (a) | 975,000 | 1,069,575 | ||||||
4.625% 4/29/24 (a) | 1,565,000 | 1,722,902 | ||||||
Teck Resources Ltd. | ||||||||
6.000% 8/15/40 | 850,000 | 1,018,470 | ||||||
4,898,774 | ||||||||
Miscellaneous - Manufacturing — 0.1% | ||||||||
General Electric Co. | ||||||||
4.125% 10/09/42 | 113,000 | 121,241 | ||||||
6.875% 1/10/39 | 298,000 | 417,955 | ||||||
539,196 | ||||||||
Oil & Gas — 2.6% | ||||||||
BP Capital Markets PLC 5 year CMT + 4.036% | ||||||||
4.375% VRN (b) | 2,900,000 | 3,067,620 | ||||||
Cenovus Energy, Inc. | ||||||||
4.250% 4/15/27 | 1,125,000 | 1,216,099 | ||||||
6.750% 11/15/39 | 765,000 | 952,263 | ||||||
Devon Energy Corp. | ||||||||
5.600% 7/15/41 | 800,000 | 920,938 | ||||||
5.850% 12/15/25 | 1,510,000 | 1,759,360 | ||||||
EQT Corp. | ||||||||
3.900% 10/01/27 | 4,510,000 | 4,604,372 | ||||||
Marathon Petroleum Corp. | ||||||||
4.500% 4/01/48 | 510,000 | 538,390 | ||||||
6.500% 3/01/41 | 1,120,000 | 1,485,826 | ||||||
Occidental Petroleum Corp. | ||||||||
6.600% 3/15/46 | 1,258,000 | 1,336,625 | ||||||
Ovintiv Exploration, Inc. | ||||||||
5.375% 1/01/26 | 1,650,000 | 1,811,293 | ||||||
5.625% 7/01/24 | 975,000 | 1,071,757 | ||||||
5.750% 1/30/22 | 904,000 | 933,605 | ||||||
Ovintiv, Inc. | ||||||||
6.500% 2/01/38 | 545,000 | 658,977 | ||||||
Patterson-UTI Energy, Inc. | ||||||||
3.950% 2/01/28 | 1,680,000 | 1,574,524 | ||||||
Petroleos Mexicanos | ||||||||
5.350% 2/12/28 | 665,000 | 646,646 | ||||||
6.375% 1/23/45 | 595,000 | 493,850 | ||||||
6.500% 3/13/27 | 585,000 | 611,325 | ||||||
6.625% 6/15/35 | 140,000 | 133,000 | ||||||
Saudi Arabian Oil Co. | ||||||||
4.250% 4/16/39 (a) | 2,075,000 | 2,233,492 | ||||||
26,049,962 | ||||||||
Oil & Gas Services — 0.4% | ||||||||
Halliburton Co. | ||||||||
5.000% 11/15/45 | 1,000,000 | 1,111,523 | ||||||
NOV, Inc. | ||||||||
3.600% 12/01/29 | 1,570,000 | 1,577,926 | ||||||
3.950% 12/01/42 | 1,506,000 | 1,372,419 | ||||||
4,061,868 | ||||||||
Pharmaceuticals — 1.3% | ||||||||
AbbVie, Inc. | ||||||||
4.050% 11/21/39 | 1,045,000 | 1,166,587 | ||||||
4.700% 5/14/45 | 1,260,000 | 1,494,772 | ||||||
Bristol-Myers Squibb Co. | ||||||||
4.350% 11/15/47 | 830,000 | 982,670 | ||||||
Cigna Corp. | ||||||||
4.800% 7/15/46 | 880,000 | 1,051,867 | ||||||
CVS Health Corp. | ||||||||
4.300% 3/25/28 | 240,000 | 272,472 | ||||||
5.050% 3/25/48 | 455,000 | 556,823 | ||||||
6.125% 9/15/39 | 560,000 | 728,543 | ||||||
CVS Pass-Through Trust | ||||||||
5.926% 1/10/34 (a) | 1,022,694 | 1,178,339 | ||||||
7.507% 1/10/32 (a) | 869,478 | 1,087,566 | ||||||
McKesson Corp. | ||||||||
6.000% 3/01/41 | 550,000 | 711,070 | ||||||
Takeda Pharmaceutical Co. Ltd. | ||||||||
3.375% 7/09/60 | 970,000 | 927,705 | ||||||
Utah Acquisition Sub, Inc. | ||||||||
5.250% 6/15/46 | 1,375,000 | 1,613,264 | ||||||
Viatris, Inc. | ||||||||
2.700% 6/22/30 (a) | 1,235,000 | 1,220,759 | ||||||
12,992,437 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Pipelines — 2.1% | ||||||||
Energy Transfer Operating LP | ||||||||
4.200% 4/15/27 | $ | 1,085,000 | $ | 1,181,831 | ||||
6.125% 12/15/45 | 1,000,000 | 1,141,819 | ||||||
3 mo. USD LIBOR + 4.028% 6.250% VRN (b) | 2,370,000 | 1,932,024 | ||||||
EnLink Midstream Partners LP | ||||||||
4.150% 6/01/25 | 2,924,000 | 2,858,824 | ||||||
4.850% 7/15/26 | 951,000 | 918,695 | ||||||
Enterprise Products Operating LLC | ||||||||
3 mo. USD LIBOR + 3.033% 5.250% VRN 8/16/77 | 1,775,000 | 1,769,212 | ||||||
3 mo. USD LIBOR + 2.570% 5.375% VRN 2/15/78 | 1,205,000 | 1,207,210 | ||||||
EQM Midstream Partners LP | ||||||||
4.750% 7/15/23 | 2,325,000 | 2,412,188 | ||||||
MPLX LP | ||||||||
4.500% 4/15/38 | 595,000 | 647,406 | ||||||
3 mo. USD LIBOR + 4.652% 6.875% VRN (b) | 1,775,000 | 1,775,000 | ||||||
Plains All American Pipeline LP 3 mo. USD LIBOR + 4.110% | ||||||||
6.125% VRN (b) | 2,345,000 | 1,905,453 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. | ||||||||
3.800% 9/15/30 | 1,150,000 | 1,170,383 | ||||||
4.700% 6/15/44 | 1,195,000 | 1,136,345 | ||||||
6.650% 1/15/37 | 375,000 | 437,866 | ||||||
Sunoco Logistics Partners Operations LP | ||||||||
5.300% 4/01/44 | 525,000 | 551,268 | ||||||
21,045,524 | ||||||||
Private Equity — 0.6% | ||||||||
Apollo Management Holdings LP 5 year CMT + 3.266% | ||||||||
4.950% VRN 1/14/50 (a) | 1,505,000 | 1,550,150 | ||||||
Carlyle Finance Subsidiary LLC | ||||||||
3.500% 9/19/29 (a) | 1,100,000 | 1,148,551 | ||||||
Hercules Capital, Inc. | ||||||||
4.625% 10/23/22 | 2,910,000 | 2,962,434 | ||||||
KKR Group Finance Co. VIII LLC | ||||||||
3.500% 8/25/50 (a) | 710,000 | 700,783 | ||||||
6,361,918 | ||||||||
Real Estate Investment Trusts (REITS) — 2.5% | ||||||||
Agree LP | ||||||||
2.900% 10/01/30 | 470,000 | 473,034 | ||||||
American Tower Trust #1 | ||||||||
3.652% 3/15/48 (a) | 1,910,000 | 2,067,466 | ||||||
Highwoods Realty LP | ||||||||
4.125% 3/15/28 | 475,000 | 513,682 | ||||||
Host Hotels & Resorts LP | ||||||||
3.500% 9/15/30 | 2,120,000 | 2,121,143 | ||||||
Kimco Realty Corp. | ||||||||
4.125% 12/01/46 | 710,000 | 749,796 | ||||||
4.450% 9/01/47 | 800,000 | 885,131 | ||||||
SBA Tower Trust | ||||||||
1.884% 7/15/50 (a) | 1,441,000 | 1,457,881 | ||||||
Service Properties Trust | ||||||||
4.500% 6/15/23 | 760,000 | 772,054 | ||||||
4.950% 10/01/29 | 1,155,000 | 1,100,138 | ||||||
Spirit Realty LP | ||||||||
2.700% 2/15/32 | 550,000 | 522,121 | ||||||
3.200% 1/15/27 | 2,280,000 | 2,379,834 | ||||||
3.400% 1/15/30 | 515,000 | 533,753 | ||||||
4.000% 7/15/29 | 1,290,000 | 1,396,416 | ||||||
4.450% 9/15/26 | 133,000 | 147,469 | ||||||
STORE Capital Corp. | ||||||||
2.750% 11/18/30 | 370,000 | 361,982 | ||||||
4.625% 3/15/29 | 1,881,000 | 2,091,990 | ||||||
Tanger Properties LP | ||||||||
3.875% 12/01/23 | 1,448,000 | 1,518,069 | ||||||
VEREIT Operating Partnership LP | ||||||||
2.850% 12/15/32 | 95,000 | 91,922 | ||||||
3.100% 12/15/29 | 2,790,000 | 2,848,085 | ||||||
3.400% 1/15/28 | 365,000 | 384,625 | ||||||
WEA Finance LLC | ||||||||
2.875% 1/15/27 (a) | 1,345,000 | 1,336,254 | ||||||
WP Carey, Inc. | ||||||||
4.250% 10/01/26 | 757,000 | 849,622 | ||||||
24,602,467 | ||||||||
Retail — 0.5% | ||||||||
El Puerto de Liverpool SAB de CV | ||||||||
3.950% 10/02/24 (a) | 2,620,000 | 2,804,081 | ||||||
Starbucks Corp. | ||||||||
2.550% 11/15/30 | 1,595,000 | 1,596,983 | ||||||
4,401,064 | ||||||||
Semiconductors — 0.3% | ||||||||
Broadcom, Inc. | ||||||||
2.450% 2/15/31 (a) | 2,585,000 | 2,442,638 | ||||||
Software — 0.3% | ||||||||
Broadridge Financial Solutions, Inc. | ||||||||
2.900% 12/01/29 | 1,210,000 | 1,237,412 | ||||||
Microsoft Corp. | ||||||||
2.921% 3/17/52 | 2,064,000 | 2,012,599 | ||||||
3,250,011 | ||||||||
Telecommunications — 1.6% | ||||||||
AT&T, Inc. | ||||||||
1.650% 2/01/28 | 680,000 | 657,553 | ||||||
3.500% 9/15/53 (a) | 1,578,000 | 1,451,282 | ||||||
3.550% 9/15/55 (a) | 5,153,000 | 4,705,591 | ||||||
Crown Castle Towers LLC | ||||||||
3.222% 5/15/42 (a) | 1,700,000 | 1,710,128 | ||||||
4.241% 7/15/48 (a) | 2,750,000 | 3,062,724 | ||||||
Qwest Corp | ||||||||
6.750% 12/01/21 | 725,000 | 749,469 | ||||||
Telefonica Emisiones SAU | ||||||||
4.665% 3/06/38 | 1,105,000 | 1,249,497 | ||||||
Verizon Communications, Inc. | ||||||||
2.550% 3/21/31 | 760,000 | 757,973 | ||||||
2.875% 11/20/50 | 755,000 | 668,796 | ||||||
2.987% 10/30/56 (a) | 1,257,000 | 1,105,589 | ||||||
16,118,602 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Transportation — 0.2% | ||||||||
Canadian Pacific Railway Co. | ||||||||
2.050% 3/05/30 | $ | 648,000 | $ | 625,569 | ||||
CSX Corp. | ||||||||
4.750% 11/15/48 | 650,000 | 779,074 | ||||||
Norfolk Southern Corp. | ||||||||
4.050% 8/15/52 | 860,000 | 938,061 | ||||||
2,342,704 | ||||||||
TOTAL CORPORATE DEBT (Cost $359,475,178) | 375,316,081 | |||||||
Municipal Obligations — 0.2% | ||||||||
JobsOhio Beverage System Series B, Revenue Bonds | ||||||||
4.532% 1/01/35 | 1,950,000 | 2,353,962 | ||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $2,074,878) | 2,353,962 | |||||||
Non-U.S. Government Agency Obligations — 32.9% | ||||||||
Automobile Asset-Backed Securities — 1.7% | ||||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C | ||||||||
4.530% 3/20/23 (a) | 1,271,000 | 1,300,507 | ||||||
CarMax Auto Owner Trust | ||||||||
Series 2020-4, Class D, 1.750% 4/15/27 | 3,900,000 | 3,925,251 | ||||||
Series 2019-3, Class D, 2.850% 1/15/26 | 1,974,000 | 2,055,779 | ||||||
Carvana Auto Receivables Trust | ||||||||
Series 2021-P1, Class D, 1.820% 12/10/27 | 1,749,000 | 1,735,489 | ||||||
Series 2019-4A, Class D, 3.070% 7/15/25 (a) | 1,625,000 | 1,687,155 | ||||||
OneMain Direct Auto Receivables Trust, Series 2019-1A, Class B | ||||||||
3.950% 11/14/28 (a) | 1,774,000 | 1,890,353 | ||||||
Santander Revolving Auto Loan Trust, Series 2019-A, Class D | ||||||||
3.450% 1/26/32 (a) | 1,087,000 | 1,118,973 | ||||||
Westlake Automobile Receivables Trust, Series 2021-1A, Class E | ||||||||
2.330% 8/17/26 (a) | 3,226,000 | 3,216,592 | ||||||
16,930,099 | ||||||||
Commercial Mortgage-Backed Securities — 6.8% | ||||||||
Aventura Mall Trust, Series 2018-AVM, Class C, | ||||||||
4.112% VRN 7/05/40 (a) (d) | 4,270,000 | 4,437,550 | ||||||
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% | ||||||||
1.456% FRN 9/15/34 (a) | 670,000 | 665,028 | ||||||
BANK | ||||||||
Series 2020-BN30, Class MCDF, 2.918% VRN 12/15/53 (d) | 2,100,000 | 1,912,999 | ||||||
Series 2019-BN17, Class B, 4.128% VRN 4/15/52 (d) | 441,000 | 493,389 | ||||||
Series 2019-BN16, Class AS, 4.267% 2/15/52 | 665,833 | 750,951 | ||||||
Series 2019-BN16, Class B, 4.438% VRN 2/15/52 (d) | 547,420 | 622,049 | ||||||
BBCMS Mortgage Trust | ||||||||
Series 2018-CHRS, Class B, 4.267% VRN 8/05/38 (a) (d) | 2,250,000 | 2,383,650 | ||||||
Series 2018-CHRS, Class C, 4.267% VRN 8/05/38 (a) (d) | 1,610,000 | 1,628,093 | ||||||
Series 2018-CHRS, Class D, 4.267% VRN 8/05/38 (a) (d) | 1,370,000 | 1,322,931 | ||||||
Bear Stearns Commercial Mortgage Securities, Series 2007-T26, Class AM, | ||||||||
5.432% VRN 1/12/45 (d) | 359,516 | 355,830 | ||||||
Benchmark Mortgage Trust | ||||||||
Series 2021-B23, Class AS, 2.274% 2/15/54 | 1,960,000 | 1,886,434 | ||||||
Series 2021-B23, Class 360A, 2.759% VRN 2/15/54 (a) (d) | 2,200,000 | 2,159,827 | ||||||
Series 2021-B23, Class 360B, 2.759% VRN 2/15/54 (a) (d) | 3,587,000 | 3,423,983 | ||||||
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.606% FRN 7/15/35 (a) | 2,760,000 | 2,742,762 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.706% FRN 12/15/36 (a) | 4,108,672 | 4,103,541 | ||||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.806% FRN 11/15/35 (a) | 1,876,000 | 1,875,999 | ||||||
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.906% FRN 10/15/36 (a) | 1,626,144 | 1,625,127 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.106% FRN 10/15/36 (a) | 1,963,787 | 1,961,949 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750% | ||||||||
1.856% FRN 12/15/37 (a) | 898,516 | 898,794 | ||||||
Century Plaza Towers | ||||||||
Series 2019-CPT, Class D, 2.997% VRN 11/13/39 (a) (d) | 982,000 | 966,810 | ||||||
Series 2019-CPT, Class E, 2.997% VRN 11/13/39 (a) (d) | 1,556,000 | 1,465,128 | ||||||
Cold Storage Trust, Series 2020-ICE5, Class D, 1 mo. USD LIBOR + 2.100% | ||||||||
2.206% FRN 11/15/37 (a) | 3,440,467 | 3,444,762 | ||||||
Commercial Mortgage Pass-Through Certificates | ||||||||
Series 2020-CX, Class B, 2.446% 11/10/46 (a) | 1,056,000 | 1,037,125 | ||||||
Series 2012-CR4, Class B, 3.703% 10/15/45 (a) | 1,060,000 | 967,787 | ||||||
Series 2014-UBS2, Class AM, 4.199% 3/10/47 | 1,375,000 | 1,477,920 | ||||||
Series 2015-CR23, Class C, 4.293% VRN 5/10/48 (d) | 1,000,000 | 1,064,460 | ||||||
Series 2014-LC17, Class C, 4.553% VRN 10/10/47 (d) | 2,908,000 | 3,065,226 | ||||||
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class E, 1 mo. USD LIBOR + 2.150% | ||||||||
2.256% FRN 5/15/36 (a) | 570,000 | 570,357 | ||||||
Jackson Park Trust, Series 2019-LIC, Class C, | ||||||||
3.131% VRN 10/14/39 (a) (d) | 2,300,000 | 2,264,864 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.906% FRN 5/15/36 (a) | 1,505,000 | 1,504,531 | ||||||
Life 2021-BMR Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750% | ||||||||
1.856% FRN 3/15/38 (a) | 1,935,000 | 1,938,096 | ||||||
Manhattan West Mortgage Trust, Series 2020-1MW, Class B, | ||||||||
2.335% VRN 9/10/39 (a) (d) | 2,122,000 | 2,128,330 | ||||||
MFT Trust | ||||||||
Series 2020-ABC, Class A, 3.358% 2/10/42 (a) | 919,000 | 939,775 | ||||||
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (a) (d) | 1,003,000 | 1,016,023 | ||||||
MKT Mortgage Trust | ||||||||
Series 2020-525M, Class D, 2.941% VRN 2/12/40 (a) (d) | 475,000 | 468,074 | ||||||
Series 2020-525M, Class E, 2.941% VRN 2/12/40 (a) (d) | 976,000 | 920,793 | ||||||
Morgan Stanley Capital I Trust | ||||||||
Series 2019-L2, Class AS, 4.272% 3/15/52 | 1,950,000 | 2,183,214 | ||||||
Series 2018-H3, Class B, 4.620% VRN 7/15/51 (d) | 760,000 | 862,379 | ||||||
Series 2011-C2, Class B, 5.200% VRN 6/15/44 (a) (d) | 1,325,000 | 1,326,933 | ||||||
Wells Fargo Commercial Mortgage Trust | ||||||||
Series 2018-C45, Class AS, 4.405% VRN 6/15/51 (d) | 1,450,000 | 1,629,665 | ||||||
Series 2018-C45, Class B, 4.556% 6/16/51 | 400,000 | 445,561 | ||||||
66,938,699 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Other Asset-Backed Securities — 17.3% | ||||||||
321 Henderson Receivables LLC, Series 2015-1A, Class A | ||||||||
3.260% 9/15/72 (a) | $ | 1,792,174 | $ | 1,890,155 | ||||
AASET Trust | ||||||||
Series 2020-1A, Class A, 3.351% 1/16/40 (a) | 1,505,327 | 1,502,694 | ||||||
Series 2019-1, Class A, 3.844% 5/15/39 (a) | 585,987 | 581,389 | ||||||
Series 2018-2A, Class A, 4.454% 11/18/38 (a) | 305,768 | 308,235 | ||||||
Adams Outdoor Advertising LP, Series 2018-1, Class A | ||||||||
4.810% 11/15/48 (a) | 1,887,047 | 2,021,332 | ||||||
AGL CLO 7 Ltd., Series 2020-7A, Class A1, 3 mo. USD LIBOR + 1.800% | ||||||||
2.041% FRN 7/15/31 (a) | 375,000 | 375,791 | ||||||
AIMCO CLO, Series 2019-10A, Class C, 3 mo. USD LIBOR + 2.450% | ||||||||
2.672% FRN 7/22/32 (a) | 2,000,000 | 2,000,918 | ||||||
Allegro CLO X Ltd., Series 2019-1A, Class C, 3 mo. USD LIBOR + 2.750% | ||||||||
2.974% FRN 4/20/32 (a) | 2,200,000 | 2,200,260 | ||||||
Anchorage Capital CLO Ltd., Series 2020-15A, Class A, 3 mo. USD LIBOR + 1.850% | ||||||||
2.074% FRN 7/20/31 (a) | 1,500,000 | 1,503,545 | ||||||
Assurant CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.250% | ||||||||
2.474% FRN 10/20/31 (a) | 820,000 | 820,063 | ||||||
Atrium XV, Series 15A, Class B, 3 mo. USD LIBOR + 1.750% | ||||||||
1.968% FRN 1/23/31 (a) | 1,190,000 | 1,190,155 | ||||||
Avery Point VII CLO Ltd., Series 2015-7A, Class DR, 3 mo. USD LIBOR + 3.600% | ||||||||
3.841% FRN 1/15/28 (a) | 1,000,000 | 1,000,205 | ||||||
Ballyrock CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 3.150% | ||||||||
3.332% FRN 11/20/30 (a) | 400,000 | 394,481 | ||||||
Benefit Street Partners CLO XVIII Ltd., Series 2019-18A, Class B, 3 mo. USD LIBOR + 1.950% | ||||||||
2.191% FRN 10/15/32 (a) | 500,000 | 501,118 | ||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A | ||||||||
2.940% 5/25/29 (a) | 427,821 | 428,960 | ||||||
Business Jet Securities LLC | ||||||||
Series 2021-1A, Class A, 2.162% 4/15/36 (a) | 3,450,000 | 3,439,497 | ||||||
Series 2020-1A, Class A, 2.981% 11/15/35 (a) | 686,869 | 695,194 | ||||||
Series 2021-1A, Class C, 5.067% 4/15/36 (a) | 1,228,000 | 1,228,894 | ||||||
Canyon Capital CLO Ltd. | ||||||||
Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.370% 1.611% FRN 10/15/32 (a) | 1,400,000 | 1,404,907 | ||||||
Series 2019-2A, Class C, 3 mo. USD LIBOR + 2.750% 2.991% FRN 10/15/32 (a) | 250,000 | 250,284 | ||||||
Capital Automotive REIT | ||||||||
Series 2020-1A, Class A3, 3.250% 2/15/50 (a) | 471,238 | 485,517 | ||||||
Series 2014-1A, Class A, 3.660% 10/15/44 (a) | 827,449 | 838,849 | ||||||
Series 2020-1A, Class A6, 3.810% 2/15/50 (a) | 397,585 | 406,578 | ||||||
Series 2017-1A, Class A2, 4.180% 4/15/47 (a) | 917,022 | 974,454 | ||||||
Carlyle Global Market Strategies CLO Ltd., Series 2015-3A, Class CR, 3 mo. USD LIBOR + 2.850% | ||||||||
3.069% FRN 7/28/28 (a) | 330,000 | 321,616 | ||||||
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A | ||||||||
3.967% 4/15/39 (a) | 1,229,665 | 1,227,051 | ||||||
Castlelake Aircraft Structured Trust, Series 2018-1, Class A | ||||||||
4.125% 6/15/43 (a) | 1,223,607 | 1,226,069 | ||||||
CBAM Ltd. | ||||||||
Series 2019-10A, Class B, 3 mo. USD LIBOR + 2.050% 2.274% FRN 4/20/32 (a) | 1,900,000 | 1,900,602 | ||||||
Series 2018-6A, Class B1R, 3 mo. USD LIBOR + 2.100% 2.341% FRN 1/15/31 (a) | 900,000 | 900,259 | ||||||
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980% | ||||||||
1.204% FRN 4/20/31 (a) | 750,000 | 750,003 | ||||||
CF Hippolyta LLC, Series 2020-1, Class B1 | ||||||||
2.280% 7/15/60 (a) | 522,045 | 530,641 | ||||||
CIFC Funding Ltd. | ||||||||
Series 2017-5A, Class A1, 3 mo. USD LIBOR + 1.180% 1.403% FRN 11/16/30 (a) | 2,330,000 | 2,330,364 | ||||||
Series 2020-1A, Class A1, 3 mo. USD LIBOR + 1.700% 1.941% FRN 7/15/32 (a) | 1,000,000 | 1,001,876 | ||||||
Clear Creek CLO Ltd., Series 2015-1A, Class AR, 3 mo. USD LIBOR + 1.200% | ||||||||
1.424% FRN 10/20/30 (a) | 2,040,000 | 2,040,414 | ||||||
CLI Funding VI LLC, Series 2020-3A, Class A | ||||||||
2.070% 10/18/45 (a) | 1,557,875 | 1,557,827 | ||||||
DB Master Finance LLC, Series 2019-1A, Class A23 | ||||||||
4.352% 5/20/49 (a) | 1,534,630 | 1,650,964 | ||||||
Domino's Pizza Master Issuer LLC | ||||||||
Series 2019-1A, Class A2, 3.668% 10/25/49 (a) | 1,089,000 | 1,150,906 | ||||||
Series 2017-1A, Class A23, 4.118% 7/25/47 (a) | 756,600 | 813,102 | ||||||
Series 2015-1A, Class A2II, 4.474% 10/25/45 (a) | 2,968,250 | 3,131,901 | ||||||
Dryden 72 CLO Ltd., Series 2019-72A, Class B, 3 mo. USD LIBOR + 1.900% | ||||||||
2.094% FRN 5/15/32 (a) | 1,500,000 | 1,500,714 | ||||||
Eaton Vance CLO Ltd. | ||||||||
Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.750% 1.991% FRN 10/15/30 (a) | 1,700,000 | 1,700,192 | ||||||
Series 2019-1A, Class B, 3 mo. USD LIBOR + 1.950% 2.191% FRN 4/15/31 (a) | 1,800,000 | 1,802,686 | ||||||
Series 2020-1A, Class C, 3 mo. USD LIBOR + 2.800% 3.041% FRN 10/15/30 (a) | 350,000 | 351,104 | ||||||
Elmwood CLO II Ltd. | ||||||||
Series 2019-2A, Class AR, 3 mo. USD LIBOR + 1.150% 1.000% FRN 4/20/34 (a) (c) | 2,800,000 | 2,800,000 | ||||||
Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.450% 1.674% FRN 4/20/31 (a) | 2,900,000 | 2,900,554 | ||||||
Elmwood CLO III Ltd., Series 2019-3A, Class B, 3 mo. USD LIBOR + 1.950% | ||||||||
2.191% FRN 10/15/32 (a) | 350,000 | 351,051 | ||||||
FCI Funding LLC, Series 2019-1A, Class A | ||||||||
3.630% 2/18/31 (a) | 180,808 | 183,477 | ||||||
Flatiron CLO Ltd. | ||||||||
Series 2019-1A, Class B, 3 mo. USD LIBOR + 1.900% 2.094% FRN 11/16/32 (a) | 350,000 | 350,775 | ||||||
Series 2019-1A, Class C, 3 mo. USD LIBOR + 2.700% 2.894% FRN 11/16/32 (a) | 250,000 | 250,344 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Goodgreen Trust | ||||||||
Series 2019-2A, Class A, 2.760% 10/15/54 (a) | $ | 2,554,081 | $ | 2,590,375 | ||||
Series 2016-1A, Class A, 3.230% 10/15/52 (a) | 1,431,824 | 1,457,752 | ||||||
Series 2017-1A, Class A, 3.740% 10/15/52 (a) | 668,092 | 692,034 | ||||||
Series 2019-1A, Class A, 3.860% 10/15/54 (a) | 1,169,110 | 1,226,602 | ||||||
Harbor Park CLO Ltd., Series 2018-1A, Class B1, 3 mo. USD LIBOR + 1.700% | ||||||||
1.924% FRN 1/20/31 (a) | 1,290,000 | 1,290,246 | ||||||
Helios Issuer LLC, Series 2017-1A, Class A | ||||||||
4.940% 9/20/49 (a) | 1,453,451 | 1,541,520 | ||||||
Hero Funding Trust | ||||||||
Series 2016-3A, Class A1, 3.080% 9/20/42 (a) | 732,616 | 752,363 | ||||||
Series 2017-3A, Class A1, 3.190% 9/20/48 (a) | 767,047 | 801,579 | ||||||
Series 2017-2A, Class A1, 3.280% 9/20/48 (a) | 226,715 | 233,277 | ||||||
Series 2016-4A, Class A1, 3.570% 9/20/47 (a) | 901,542 | 938,724 | ||||||
Series 2017-2A, Class A2, 4.070% 9/20/48 (a) | 182,345 | 188,049 | ||||||
Series 2018-1A, Class A2, 4.670% 9/20/48 (a) | 1,371,878 | 1,504,527 | ||||||
Horizon Aircraft Finance I Ltd. | ||||||||
Series 2019-1, Class A, 3.721% 7/15/39 (a) | 1,298,330 | 1,296,791 | ||||||
Series 2018-1, Class A, 4.458% 12/15/38 (a) | 925,711 | 936,638 | ||||||
Horizon Aircraft Finance III Ltd., Series 2019-2, Class A | ||||||||
3.425% 11/15/39 (a) | 2,826,118 | 2,789,656 | ||||||
HPS Loan Management Ltd., Series 15A-19, Class A1, 3 mo. USD LIBOR + 1.320% | ||||||||
1.542% FRN 7/22/32 (a) | 1,300,000 | 1,302,644 | ||||||
ICG US CLO Ltd., Series 2019-1A, Class A1A, 3 mo. USD LIBOR + 1.380% | ||||||||
1.595% FRN 10/26/32 (a) | 750,000 | 751,601 | ||||||
ITE Rail Fund Levered LP, Series 2021-1A, Class A | ||||||||
2.250% 2/28/51 (a) | 1,598,072 | 1,591,932 | ||||||
J.G. Wentworth LLC, Series 2018-2A, Class A | ||||||||
3.960% 10/15/75 (a) | 1,327,773 | 1,467,670 | ||||||
KKR CLO Ltd., Series 28A, Class A, 3 mo. USD LIBOR + 1.140% | ||||||||
1.324% FRN 3/15/31 (a) | 900,000 | 900,036 | ||||||
KREF Ltd., Series 2018-FL1, Class C, 1 mo. USD LIBOR + 2.000% | ||||||||
2.108% FRN 6/15/36 (a) | 1,670,000 | 1,665,818 | ||||||
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1 | ||||||||
4.300% 1/15/42 (a) | 2,129,134 | 2,084,951 | ||||||
Lunar Aircraft Ltd., Series 2020-1A, Class A | ||||||||
3.376% 2/15/45 (a) | 618,842 | 606,438 | ||||||
MACH 1 Cayman Ltd., Series 2019-1, Class A | ||||||||
3.474% 10/15/39 (a) | 1,854,339 | 1,865,363 | ||||||
Madison Park Funding Ltd. | ||||||||
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 1.841% FRN 7/15/30 (a) | 1,665,000 | 1,665,063 | ||||||
Series 2018-32A, Class CR, 3 mo. USD LIBOR + 2.000% 2.188% FRN 1/22/31 (a) | 1,000,000 | 998,098 | ||||||
Series 2018-29A, Class C, 3 mo. USD LIBOR + 2.200% 2.423% FRN 10/18/30 (a) | 620,000 | 620,078 | ||||||
Magnetite XXVI Ltd., Series 2020-26A, Class A, 3 mo. USD LIBOR + 1.750% | ||||||||
1.991% FRN 7/15/30 (a) | 1,500,000 | 1,502,901 | ||||||
Magnetite XXVII Ltd., Series 2020-27A, Class C, 3 mo. USD LIBOR + 2.650% | ||||||||
2.874% FRN 7/20/33 (a) | 450,000 | 450,769 | ||||||
Mariner Finance Issuance Trust | ||||||||
Series 2021-AA, Class B, 2.330% 3/20/36 (a) | 1,336,000 | 1,338,471 | ||||||
Series 2021-AA, Class C, 2.960% 3/20/36 (a) | 637,000 | 639,233 | ||||||
Mosaic Solar Loans LLC | ||||||||
Series 2018-1A, Class A, 4.010% 6/22/43 (a) | 259,281 | 279,463 | ||||||
Series 2017-1A, Class A, 4.450% 6/20/42 (a) | 262,998 | 286,631 | ||||||
MP CLO III Ltd., Series 2013-1A, Class AR, 3 mo. USD LIBOR + 1.250% | ||||||||
1.474% FRN 10/20/30 (a) | 1,750,000 | 1,750,131 | ||||||
MVW Owner Trust, Series 2017-1A, Class A | ||||||||
2.420% 12/20/34 (a) | 135,438 | 139,742 | ||||||
NP SPE LLC, Series 2017-1A, Class A2 | ||||||||
4.219% 10/21/47 (a) | 2,260,000 | 2,295,636 | ||||||
Oak Street Investment Grade Net Lease Fund, Series 2020-1A, Class A5 | ||||||||
3.390% 11/20/50 (a) | 1,200,000 | 1,224,713 | ||||||
OCP CLO 2018-15 Ltd., Series 2018-15A, Class A1, 3 mo. USD LIBOR + 1.100% | ||||||||
1.324% FRN 7/20/31 (a) | 250,000 | 250,004 | ||||||
OHA Credit Funding Ltd. | ||||||||
Series 2019-4A, Class A1, 3 mo. USD LIBOR + 1.330% 1.552% FRN 10/22/32 (a) | 1,000,000 | 1,002,663 | ||||||
Series 2019-4A, Class C, 3 mo. USD LIBOR + 2.650% 2.872% FRN 10/22/32 (a) | 500,000 | 501,237 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
OHA Loan Funding 2015-1 Ltd., Series 2015-1A, Class A1R2, 3 mo. USD LIBOR + 1.340% | ||||||||
1.534% FRN 11/15/32 (a) | $ | 550,000 | $ | 551,984 | ||||
OneMain Financial Issuance Trust | ||||||||
Series 2020-2A, Class B, 2.210% 9/14/35 (a) | 396,000 | 398,125 | ||||||
Series 2019-2A, Class A, 3.140% 10/14/36 (a) | 8,400,000 | 8,923,708 | ||||||
Oxford Finance Funding Trust, Series 2020-1A, Class A2 | ||||||||
3.101% 2/15/28 (a) | 1,536,000 | 1,570,241 | ||||||
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A | ||||||||
3.967% 6/15/44 (a) | 1,476,910 | 1,466,085 | ||||||
Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2 | ||||||||
3.858% 12/05/49 (a) | 2,292,975 | 2,185,780 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | ||||||||
2.959% FRN 2/25/23 (a) | 1,270,000 | 1,268,482 | ||||||
Renew, Series 2021-1, Class A | ||||||||
2.060% 11/20/56 (a) (c) | 1,805,000 | 1,804,729 | ||||||
Rockford Tower CLO Ltd., Series 2019-1A, Class B1R, 3 mo. USD LIBOR + 1.550% | ||||||||
1.738% FRN 4/20/34 (a) | 1,500,000 | 1,500,149 | ||||||
RR 3 Ltd., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090% | ||||||||
1.331% FRN 1/15/30 (a) | 2,450,000 | 2,447,653 | ||||||
Sierra Receivables Funding LLC | ||||||||
Series 2020-2A, Class B, 2.320% 7/20/37 (a) | 769,740 | 781,008 | ||||||
Series 2021-1A, Class D, 3.170% 11/20/37 (a) | 1,631,000 | 1,612,888 | ||||||
Series 2018-3A, Class D, 5.200% 9/20/35 (a) | 597,722 | 612,986 | ||||||
Stack Infrastructure Issuer LLC, Series 2020-1A, Class A2 | ||||||||
1.893% 8/25/45 (a) | 874,000 | 875,905 | ||||||
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300% | ||||||||
2.489% FRN 8/18/31 (a) | 1,170,000 | 1,132,290 | ||||||
Store Master Funding I-VII | ||||||||
Series 2019-1, Class A2, 3.650% 11/20/49 (a) | 2,836,947 | 2,894,807 | ||||||
Series 2018-1A, Class A2, 4.290% 10/20/48 (a) | 1,288,589 | 1,365,968 | ||||||
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + 1.200% | ||||||||
0.909% FRN 11/25/35 (a) | 2,682,893 | 2,599,082 | ||||||
Structured Receivables Finance LLC, Series 2010-B, Class A | ||||||||
3.730% 8/15/36 (a) | 126,837 | 132,530 | ||||||
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A | ||||||||
4.870% 7/20/48 (a) | 428,027 | 458,602 | ||||||
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A | ||||||||
4.190% 1/15/71 (a) | 1,889,629 | 2,048,449 | ||||||
Taco Bell Funding LLC, Series 2018-1A, Class A2II | ||||||||
4.940% 11/25/48 (a) | 1,114,350 | 1,201,007 | ||||||
TAL Advantage VII LLC, Series 2020-1A, Class A | ||||||||
2.050% 9/20/45 (a) | 4,263,750 | 4,256,814 | ||||||
Textainer Marine Containers Ltd., Series 2019-1A, Class A | ||||||||
3.960% 4/20/44 (a) | 463,973 | 463,328 | ||||||
Tif Funding II LLC, Series 2020-1A, Class A | ||||||||
2.090% 8/20/45 (a) | 617,738 | 618,049 | ||||||
Trinity Rail Leasing LP | ||||||||
Series 2019-2A, Class A2, 3.100% 10/18/49 (a) | 3,289,000 | 3,354,118 | ||||||
Series 2018-1A, Class A2, 4.620% 6/17/48 (a) | 2,420,000 | 2,450,944 | ||||||
Trip Rail Master Funding LLC, Series 2017-1A, Class A1 | ||||||||
2.709% 8/15/47 (a) | 74,578 | 74,626 | ||||||
Triton Container Finance VIII LLC, Series 2020-1A, Class A | ||||||||
2.110% 9/20/45 (a) | 3,016,125 | 2,989,998 | ||||||
Vantage Data Centers LLC, Series 2020-2A, Class A2 | ||||||||
1.992% 9/15/45 (a) | 1,301,000 | 1,277,801 | ||||||
Vivint Solar Financing V LLC, Series 2018-1A, Class B | ||||||||
7.370% 4/30/48 (a) | 2,430,695 | 2,587,497 | ||||||
WAVE LLC | ||||||||
Series 2019-1A, Class A, 3.597% 9/15/44 (a) | 3,764,151 | 3,765,021 | ||||||
Series 2017-1A, Class C, 6.656% 11/15/42 (a) | 1,874,228 | 1,522,013 | ||||||
WAVE Trust, Series 2017-1A, Class A | ||||||||
3.844% 11/15/42 (a) | 1,441,989 | 1,416,810 | ||||||
Willis Engine Structured Trust IV, Series 2018-A, Class A, | ||||||||
4.750% STEP 9/15/43 (a) | 1,136,332 | 1,129,946 | ||||||
Wind River CLO Ltd. | ||||||||
Series 2018-2A, Class B, 3 mo. USD LIBOR + 1.750% 1.991% FRN 7/15/30 (a) | 1,150,000 | 1,150,068 | ||||||
Series 2016-2A, Class BR, 3 mo. USD LIBOR + 1.800% 2.005% FRN 11/01/31 (a) | 900,000 | 900,167 | ||||||
170,379,044 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Student Loans Asset-Backed Securities — 6.8% | ||||||||
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100% | ||||||||
0.351% FRN 3/28/68 | $ | 3,474,660 | $ | 3,406,091 | ||||
College Avenue Student Loans LLC | ||||||||
Series 2019-A, Class B, 3.810% 12/28/48 (a) | 2,244,000 | 2,305,042 | ||||||
Series 2019-A, Class C, 4.460% 12/28/48 (a) | 1,281,000 | 1,307,611 | ||||||
College Loan Corp. Trust I, Series 2007-1, Class B2, | ||||||||
1.627% FRN 1/25/47 (d) | 900,000 | 719,572 | ||||||
ECMC Group Student Loan Trust, Series 2018-2A, Class A, 1 mo. USD LIBOR + .800% | ||||||||
0.909% FRN 9/25/68 (a) | 1,922,301 | 1,926,217 | ||||||
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150% | ||||||||
2.100% FRN 12/01/47 (a) | 1,532,564 | 1,513,417 | ||||||
Education Services of America | ||||||||
Series 2014-4, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 6/25/48 (a) | 1,200,000 | 1,171,378 | ||||||
Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 10/25/56 (a) | 1,100,000 | 1,082,231 | ||||||
Educational Funding of the South, Inc., Series 2011-1, Class B, 3 mo. USD LIBOR + 3.700% | ||||||||
3.918% FRN 4/25/46 | 625,000 | 594,653 | ||||||
EDvestinU Private Education Loan Issue No 1 LLC, Series 2019-A, Class A, | ||||||||
3.580% VRN 11/25/38 (a) (d) | 1,159,016 | 1,201,593 | ||||||
Higher Education Funding I | ||||||||
Series 2004-1, Class B2, 0.000% FRN 1/01/44 (a) (d) | 450,000 | 392,810 | ||||||
Series 2004-1, Class B1, 1.796% FRN 1/01/44 (a) (d) | 450,000 | 401,157 | ||||||
Laurel Road Prime Student Loan Trust, Series 2017-B, Class BFX | ||||||||
3.020% 8/25/42 (a) | 547,785 | 542,476 | ||||||
Navient Private Education Loan Trust, Series 2020-IA, Class B | ||||||||
2.950% 4/15/69 (a) | 2,352,000 | 2,359,924 | ||||||
Navient Private Education Refi Loan Trust | ||||||||
Series 2021-BA, Class B, 2.520% 7/15/69 (a) | 2,620,000 | 2,581,231 | ||||||
Series 2019-CA, Class B, 3.670% 2/15/68 (a) | 2,249,000 | 2,221,855 | ||||||
Series 2019-A, Class B, 3.900% 1/15/43 (a) | 1,190,000 | 1,177,116 | ||||||
Series 2018-CA, Class B, 4.220% 6/16/42 (a) | 1,530,000 | 1,572,964 | ||||||
Navient Student Loan Trust | ||||||||
Series 2019-1A, Class A2, 1 mo. USD LIBOR + .900% 1.009% FRN 12/27/67 (a) | 4,514,941 | 4,585,483 | ||||||
Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150% 1.259% FRN 3/25/66 (a) | 1,688,069 | 1,708,092 | ||||||
Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250% 1.359% FRN 6/25/65 (a) | 3,051,360 | 3,116,115 | ||||||
Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 10/25/58 | 940,000 | 946,480 | ||||||
Series 2016-2, Class A3, 1 mo. USD LIBOR + 1.500% 1.609% FRN 6/25/65 (a) | 2,370,000 | 2,452,204 | ||||||
Series 2019-BA, Class B, 4.040% 12/15/59 (a) | 2,950,000 | 2,924,490 | ||||||
Nelnet Private Education Loan Trust, Series 2016-A, Class A1B | ||||||||
3.600% 12/26/40 (a) | 262,818 | 264,063 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.451% FRN 6/25/41 | 531,955 | 471,292 | ||||||
Series 2019-2A, Class A, 1 mo. USD LIBOR + .900% 1.009% FRN 6/27/67 (a) | 1,598,572 | 1,601,943 | ||||||
Series 2005-4, Class A4A, 1.145% FRN 3/22/32 (d) | 275,000 | 264,675 | ||||||
Series 2019-1A, Class B, 1 mo. USD LIBOR + 1.400% 1.509% FRN 4/25/67 (a) | 3,250,000 | 3,210,604 | ||||||
Series 2019-5, Class B, 3.450% 10/25/67 (a) | 2,150,000 | 2,008,976 | ||||||
SLC Student Loan Trust, Series 2007-1, Class A5, 3 mo. USD LIBOR + .090% | ||||||||
0.284% FRN 2/15/68 | 1,500,000 | 1,444,195 | ||||||
SLM Student Loan Trust | ||||||||
Series 2006-2, Class R, 0.000% 1/25/41 | 7,308 | 4,509,604 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.428% FRN 10/25/40 | 1,756,731 | 1,621,446 | ||||||
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.508% FRN 1/25/44 | 1,824,363 | 1,681,234 | ||||||
SoFi Alternative Trust, Series 2019-C, Class PT, | ||||||||
2.322% VRN 1/25/45 (a) (d) | 3,869,565 | 4,115,554 | ||||||
SoFi Professional Loan Program LLC, Series 2017-C, Class C, | ||||||||
4.210% VRN 7/25/40 (a) (d) | 990,000 | 1,016,813 | ||||||
South Carolina Student Loan Corp., Series 2014-1, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.615% FRN 8/01/35 | 3,050,000 | 2,933,448 | ||||||
67,354,049 |
MML Managed Bond Fund — Portfolio of Investments (Contiuned) |
Principal Amount | Value | |||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 0.3% | ||||||||
Bank of America Mortgage Securities, Series 2004-G, Class 2A7, | ||||||||
3.074% VRN 8/25/34 (d) | $ | 15,883 | $ | 15,654 | ||||
JP Morgan Mortgage Trust, Series 2017-1, Class A11, | ||||||||
3.500% VRN 1/25/47 (a) (d) | 1,233,846 | 1,236,484 | ||||||
PSMC Trust, Series 2018-2, Class A1, | ||||||||
3.500% VRN 6/25/48 (a) (d) | 775,695 | 784,714 | ||||||
Wells Fargo Mortgage Backed Securities Trust, Series 2019-1, Class A1, | ||||||||
4.000% VRN 11/25/48 (a) (d) | 416,232 | 422,264 | ||||||
2,459,116 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $319,260,059) | 324,061,007 | |||||||
Sovereign Debt Obligations — 0.8% | ||||||||
Colombia Government International Bond | ||||||||
6.125% 1/18/41 | 2,080,000 | 2,463,219 | ||||||
Mexico Government International Bond | ||||||||
4.500% 4/22/29 | 875,000 | 969,386 | ||||||
4.750% 3/08/44 | 3,727,000 | 3,913,946 | ||||||
6.750% 9/27/34 | 685,000 | 875,951 | ||||||
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $7,715,553) | 8,222,502 | |||||||
U.S. Government Agency Obligations and Instrumentalities — 21.3% | ||||||||
Collateralized Mortgage Obligations — 1.3% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
Series 2178, Class PB 7.000% 8/15/29 | 27,865 | 31,465 | ||||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates | ||||||||
Series K124, Class A2, 1.658% 2/25/54 | 3,352,000 | 3,275,867 | ||||||
Series K125, Class A2, 1.846% 1/25/31 | 5,915,000 | 5,877,499 | ||||||
Federal National Mortgage Association ACES | ||||||||
Series 2021-M4, Class A2 1.466% 2/25/31 (d) | 3,396,000 | 3,248,714 | ||||||
12,433,545 | ||||||||
Pass-Through Securities — 19.8% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
Pool #RA4245 2.000% 12/01/50 | 2,574,284 | 2,572,295 | ||||||
Pool #RA4255 2.000% 1/01/51 | 5,411,989 | 5,414,572 | ||||||
Pool #J13972 3.500% 1/01/26 | 22,261 | 23,755 | ||||||
Pool #C91344 3.500% 11/01/30 | 72,016 | 76,838 | ||||||
Pool #C91424 3.500% 1/01/32 | 43,832 | 46,849 | ||||||
Pool #RA2483 3.500% 6/01/50 | 8,102,222 | 8,590,860 | ||||||
Pool #C91239 4.500% 3/01/29 | 3,676 | 4,081 | ||||||
Pool #C91251 4.500% 6/01/29 | 24,265 | 26,939 | ||||||
Pool #C90939 5.500% 12/01/25 | 12,685 | 14,173 | ||||||
Pool #D97258 5.500% 4/01/27 | 9,322 | 10,445 | ||||||
Pool #C91026 5.500% 4/01/27 | 22,301 | 24,988 | ||||||
Pool #C91074 5.500% 8/01/27 | 2,340 | 2,622 | ||||||
Pool #D97417 5.500% 10/01/27 | 8,891 | 9,963 | ||||||
Pool #C91128 5.500% 12/01/27 | 1,261 | 1,413 | ||||||
Pool #C91148 5.500% 1/01/28 | 53,052 | 59,476 | ||||||
Pool #C91176 5.500% 5/01/28 | 19,270 | 21,604 | ||||||
Pool #C91217 5.500% 11/01/28 | 5,526 | 6,201 | ||||||
Federal National Mortgage Association | ||||||||
Pool #775539 12 mo. USD LIBOR + 1.641% 2.516% FRN 5/01/34 | 13,410 | 13,913 | ||||||
Pool #MA3029 3.000% 6/01/32 | 2,224,428 | 2,355,086 | ||||||
Pool #MA3090 3.000% 8/01/32 | 927,880 | 980,932 | ||||||
Pool #AO8180 3.000% 9/01/42 | 17,980 | 19,077 | ||||||
Pool #AB7397 3.000% 12/01/42 | 104,539 | 110,882 | ||||||
Pool #AB7401 3.000% 12/01/42 | 86,453 | 91,699 | ||||||
Pool #AP8668 3.000% 12/01/42 | 121,132 | 128,482 | ||||||
Pool #AR1975 3.000% 12/01/42 | 26,251 | 27,844 | ||||||
Pool #AR0306 3.000% 1/01/43 | 7,801 | 8,275 | ||||||
Pool #AR5391 3.000% 1/01/43 | 41,207 | 43,708 | ||||||
Pool #AL3215 3.000% 2/01/43 | 83,992 | 89,088 | ||||||
Pool #AR4109 3.000% 2/01/43 | 87,808 | 93,136 | ||||||
Pool #AR4432 3.000% 3/01/43 | 37,437 | 39,709 | ||||||
Pool #AT0169 3.000% 3/01/43 | 198,636 | 210,689 | ||||||
Pool #AB8809 3.000% 3/01/43 | 42,871 | 45,473 | ||||||
Pool #MA1368 3.000% 3/01/43 | 164,306 | 174,275 | ||||||
Pool #AR2174 3.000% 4/01/43 | 161,415 | 171,209 | ||||||
Pool #AS1304 3.500% 12/01/28 | 839,677 | 900,815 | ||||||
Pool #MA1356 3.500% 2/01/43 | 6,559,403 | 7,164,076 | ||||||
Pool #CA6096 3.500% 6/01/50 | 7,744,541 | 8,250,331 | ||||||
Pool #FM4017 3.500% 8/01/50 | 709,542 | 748,343 | ||||||
Pool #AA3980 4.500% 4/01/28 | 44,459 | 48,345 | ||||||
Pool #CA1909 4.500% 6/01/48 | 4,137,335 | 4,513,097 | ||||||
Pool #AD6437 5.000% 6/01/40 | 316,033 | 364,053 | ||||||
Pool #AD6996 5.000% 7/01/40 | 1,929,641 | 2,222,841 | ||||||
Pool #AL8173 5.000% 2/01/44 | 866,063 | 995,763 | ||||||
Pool #AD0836 5.500% 11/01/28 | 42,583 | 47,700 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Government National Mortgage Association | ||||||||
Pool #371146 7.000% 9/15/23 | $ | 35 | $ | 36 | ||||
Pool #352022 7.000% 11/15/23 | 1,761 | 1,859 | ||||||
Pool #374440 7.000% 11/15/23 | 152 | 160 | ||||||
Pool #491089 7.000% 12/15/28 | 5,754 | 6,265 | ||||||
Pool #480539 7.000% 4/15/29 | 198 | 223 | ||||||
Pool #488634 7.000% 5/15/29 | 1,828 | 2,082 | ||||||
Pool #500928 7.000% 5/15/29 | 2,941 | 3,383 | ||||||
Pool #499410 7.000% 7/15/29 | 1,059 | 1,222 | ||||||
Pool #510083 7.000% 7/15/29 | 715 | 817 | ||||||
Pool #493723 7.000% 8/15/29 | 2,155 | 2,488 | ||||||
Pool #581417 7.000% 7/15/32 | 4,192 | 4,778 | ||||||
Government National Mortgage Association II | ||||||||
Pool #008746 1 year CMT + 1.500% 2.125% FRN 11/20/25 | 2,246 | 2,281 | ||||||
Pool #080136 1 year CMT + 1.500% 2.125% FRN 11/20/27 | 531 | 541 | ||||||
Pool #MA6038 3.000% 7/20/49 | 4,975,055 | 5,206,418 | ||||||
Pool #MA6283 3.000% 11/20/49 | 8,856,642 | 9,251,218 | ||||||
Pool #MA6409 3.000% 1/20/50 | 8,957,853 | 9,348,540 | ||||||
Pool #MA4321 3.500% 3/20/47 | 5,033,411 | 5,353,780 | ||||||
Government National Mortgage Association II TBA | ||||||||
2.500% 6/01/50 (c) | 14,900,000 | 15,359,805 | ||||||
3.000% 8/01/49 (c) | 5,675,000 | 5,906,877 | ||||||
3.500% 6/01/49 (c) | 14,620,000 | 15,424,100 | ||||||
Uniform Mortgage Backed Securities TBA | ||||||||
2.000% 1/01/36(c) | 25,400,000 | 26,058,813 | ||||||
2.500% 7/01/50 (c) | 9,675,000 | 9,920,654 | ||||||
3.000% 6/01/49 (c) | 34,975,000 | 36,420,450 | ||||||
3.500% 3/01/49 (c) | 10,100,000 | 10,667,336 | ||||||
195,710,041 | ||||||||
Whole Loans — 0.2% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
Series 2016-HQA3, Class M2, 1 mo. USD LIBOR + 1.350% 1.459% FRN 3/25/29 | 44,129 | 44,149 | ||||||
Series 2020-DNA3, Class M2, 1 mo. USD LIBOR + 3.000% 3.109% FRN 6/25/50 (a) | 1,571,869 | 1,577,151 | ||||||
1,621,300 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $210,268,045) | 209,764,886 | |||||||
U.S. Treasury Obligations — 5.0% | ||||||||
U.S. Treasury Bonds & Notes — 5.0% | ||||||||
U.S. Treasury Bond | ||||||||
2.250% 8/15/49 (e) | 18,100,000 | 17,450,898 | ||||||
3.500% 2/15/39 | 13,700,000 | 16,379,079 | ||||||
U.S. Treasury Note | ||||||||
0.250% 10/31/25 | 15,800,000 | 15,378,473 | ||||||
49,208,450 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $52,696,629) | 49,208,450 | |||||||
TOTAL BONDS & NOTES (Cost $951,490,342) | 968,926,888 | |||||||
TOTAL PURCHASED OPTIONS (#) — 0.3% (Cost $2,989,580) | 3,002,961 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $954,479,922) | 971,929,849 | |||||||
Short-Term Investments — 13.8% | ||||||||
Commercial Paper — 13.0% | ||||||||
Amcor Flexibles North American | ||||||||
0.193% 4/30/21 (a) | 7,000,000 | 6,998,950 | ||||||
American Electric Power Co., Inc. | ||||||||
0.203% 4/19/21 (a) | 8,000,000 | 7,999,303 | ||||||
American Honda Finance Corp. | ||||||||
0.213% 6/07/21 | 1,000,000 | 999,579 | ||||||
0.254% 6/04/21 | 9,000,000 | 8,996,392 | ||||||
AT&T, Inc. | ||||||||
0.294% 7/13/21 (a) | 1,000,000 | 999,350 | ||||||
0.346% 9/21/21 (a) | 10,000,000 | 9,987,143 | ||||||
BAT International Finance PLC | ||||||||
0.304% 4/22/21 (a) | 5,000,000 | 4,999,484 | ||||||
Dominion Resources | ||||||||
0.203% 4/12/21 | 10,000,000 | 9,999,480 | ||||||
Ei Dupont | ||||||||
0.213% 5/05/21 (a) | 10,000,000 | 9,998,172 | ||||||
Entergy Corp. | ||||||||
0.213% 5/20/21 (a) | 10,000,000 | 9,996,625 | ||||||
Holcim US Finance SARL & Cie | ||||||||
0.223% 4/23/21 (a) | 3,000,000 | 2,999,672 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Intercontinental Exchange, Inc. | ||||||||
0.355% 5/24/21 (a) | $ | 5,000,000 | $ | 4,997,750 | ||||
Nasdaq, Inc. | ||||||||
0.264% 5/10/21 (a) | 2,000,000 | 1,999,318 | ||||||
National Grid Holdings | ||||||||
0.172% 4/28/21 (a) | 5,000,000 | 4,999,312 | ||||||
NextEra Energy Capital Holdings, Inc. | ||||||||
0.183% 4/16/21 (a) | 11,000,000 | 10,999,213 | ||||||
Nisource, Inc. | ||||||||
0.172% 4/06/21 (a) | 2,000,000 | 1,999,950 | ||||||
Societe Generale | ||||||||
0.203% 5/10/21 (a) | 3,000,000 | 2,999,677 | ||||||
Volkswagen Credit, Inc | ||||||||
0.244% 4/13/21 (a) | 2,000,000 | 1,999,887 | ||||||
0.244% 4/19/21 (a) | 9,000,000 | 8,999,216 | ||||||
Walgreens Boots Alliance, Inc. | ||||||||
0.193% 4/13/21 (a) | 2,000,000 | 1,999,865 | ||||||
0.233% 4/27/21 (a) | 7,000,000 | 6,998,918 | ||||||
0.243% 4/20/21 (a) | 1,000,000 | 999,891 | ||||||
Waste Management, Inc. | ||||||||
0.356% 7/01/21 (a) | 5,000,000 | 4,996,703 | ||||||
127,963,850 | ||||||||
Repurchase Agreement — 0.8% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (f) | 7,452,684 | 7,452,684 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $135,410,143) | 135,416,534 | |||||||
TOTAL INVESTMENTS — 112.3% (Cost $1,089,890,065) (g) | 1,107,346,383 | |||||||
Other Assets/(Liabilities) — (12.3)% | (121,110,205 | ) | ||||||
NET ASSETS — 100.0% | $ | 986,236,178 |
Abbreviation Legend
CLO | Collateralized Loan Obligation |
FRN | Floating Rate Note |
STEP | Step Up Bond |
TBA | To Be Announced |
VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $489,412,537 or 49.62% of net assets. |
(b) | Security is perpetual and has no stated maturity date. |
(c) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(d) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at March 31, 2021. |
(e) | A portion of this security is pledged/held as collateral for open derivatives. |
(f) | Maturity value of $7,452,684. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $7,601,817. |
(g) | See Note 3 for aggregate cost for federal tax purposes. |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
(#) Interest Rate Swaptions Purchased
Paid by Fund | Received by Fund | |||||||||||||||||||||||||||
Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional Amount | Value | Premium Paid (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
Call | ||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 3-Month USD LIBOR BBA | Quarterly | 2.44% | Semi-Annually | USD | 3,700,000 | $ | 214,230 | $ | 184,972 | $ | 29,258 | ||||||||||||||
Put | ||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 2.94% | Semi-Annually | 3-Month USD LIBOR BBA | Quarterly | USD | 56,100,000 | $ | 2,788,731 | $ | 2,804,608 | $ | (15,877 | ) | |||||||||||||
$ | 3,002,961 | $ | 2,989,580 | $ | 13,381 |
Futures contracts
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||
Long | ||||||||||||
U.S. Treasury Long Bond | 6/21/21 | 75 | $ | 12,045,950 | $ | (451,419 | ) | |||||
U.S. Treasury Ultra Bond | 6/21/21 | 226 | 43,022,631 | (2,067,193 | ) | |||||||
U.S. Treasury Note 2 Year | 6/30/21 | 693 | 153,102,107 | (138,600 | ) | |||||||
U.S. Treasury Note 5 Year | 6/30/21 | 169 | 21,109,692 | (255,356 | ) | |||||||
$ | (2,912,568 | ) | ||||||||||
Short | ||||||||||||
U.S. Treasury Ultra 10 Year | 6/21/21 | 136 | $ | (19,893,425 | ) | $ | 351,925 | |||||
90 Day Eurodollar | 9/13/21 | 17 | (4,146,456 | ) | (95,469 | ) | ||||||
90 Day Eurodollar | 3/14/22 | 15 | (3,657,513 | ) | (83,675 | ) | ||||||
90 Day Eurodollar | 9/19/22 | 14 | (3,412,279 | ) | (74,771 | ) | ||||||
90 Day Eurodollar | 3/13/23 | 12 | (2,923,010 | ) | (58,840 | ) | ||||||
90 Day Eurodollar | 12/18/23 | 15 | (3,650,388 | ) | (54,425 | ) | ||||||
90 Day Eurodollar | 12/16/24 | 40 | (9,722,367 | ) | (90,633 | ) | ||||||
$ | (105,888 | ) |
Currency Legend
USD | U.S. Dollar |
MML Short-Duration Bond Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Principal Amount | Value | |||||||
Bonds & Notes — 96.9% | ||||||||
Corporate Debt — 46.6% | ||||||||
Aerospace & Defense — 0.3% | ||||||||
The Boeing Co. | ||||||||
1.167% 2/04/23 | $ | 560,000 | $ | 562,838 | ||||
Agriculture — 1.3% | ||||||||
BAT Capital Corp. | ||||||||
3.222% 8/15/24 | 415,000 | 441,752 | ||||||
4.700% 4/02/27 | 410,000 | 461,285 | ||||||
Imperial Brands Finance PLC | ||||||||
3.125% 7/26/24 (a) | 400,000 | 422,685 | ||||||
3.500% 2/11/23 (a) | 387,000 | 402,569 | ||||||
Wens Foodstuffs Group Co. Ltd. | ||||||||
2.349% 10/29/25 (a) | 700,000 | 670,509 | ||||||
2,398,800 | ||||||||
Airlines — 0.1% | ||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd. | ||||||||
4.500% 10/20/25 (a) | 185,000 | 196,999 | ||||||
Auto Manufacturers — 2.0% | ||||||||
Ford Motor Credit Co. LLC | ||||||||
3 mo. USD LIBOR + .810% 1.048% FRN 4/05/21 | 405,000 | 405,000 | ||||||
3 mo. USD LIBOR + 1.235% 1.429% FRN 2/15/23 | 275,000 | 272,266 | ||||||
3.087% 1/09/23 | 260,000 | 264,220 | ||||||
3.350% 11/01/22 | 365,000 | 372,373 | ||||||
General Motors Co. | ||||||||
6.125% 10/01/25 | 135,000 | 158,687 | ||||||
General Motors Financial Co., Inc. | ||||||||
3.250% 1/05/23 | 829,000 | 863,533 | ||||||
Harley-Davidson Financial Services, Inc. | ||||||||
3.350% 6/08/25 (a) | 209,000 | 218,944 | ||||||
Hyundai Capital America | ||||||||
2.375% 2/10/23 (a) | 600,000 | 615,878 | ||||||
2.850% 11/01/22 (a) | 320,000 | 330,002 | ||||||
Nissan Motor Acceptance Corp. | ||||||||
1.900% 9/14/21 (a) | 200,000 | 200,894 | ||||||
3,701,797 | ||||||||
Auto Parts & Equipment — 0.3% | ||||||||
Metalsa SA de CV | ||||||||
4.900% 4/24/23 (a) | 450,000 | 473,400 | ||||||
Banks — 9.1% | ||||||||
ABN AMRO Bank NV | ||||||||
4.750% 7/28/25 (a) | 435,000 | 486,701 | ||||||
Arab National Bank 5 year CMT + 2.974% | ||||||||
3.326% VRN 10/28/30 (a) | 650,000 | 665,928 | ||||||
Banco de Credito del Peru 5 year CMT + 3.000% | ||||||||
3.125% VRN 7/01/30 (a) | 625,000 | 625,000 | ||||||
Banco Santander SA | ||||||||
1.849% 3/25/26 | 600,000 | 598,577 | ||||||
Bank of America Corp. | ||||||||
3 mo. USD LIBOR + .930% 2.816% VRN 7/21/23 | 930,000 | 957,363 | ||||||
3.950% 4/21/25 | 178,000 | 195,049 | ||||||
4.000% 1/22/25 | 647,000 | 706,893 | ||||||
The Bank of Nova Scotia | ||||||||
4.500% 12/16/25 | 829,000 | 936,644 | ||||||
Barclays Bank PLC | ||||||||
10.179% 6/12/21 (a) | 504,000 | 512,654 | ||||||
Barclays PLC 3 mo. USD LIBOR + 1.380% | ||||||||
1.574% FRN 5/16/24 | 485,000 | 491,929 | ||||||
BPCE SA | ||||||||
5.700% 10/22/23 (a) | 825,000 | 921,766 | ||||||
Citigroup, Inc. | ||||||||
4.400% 6/10/25 | 635,000 | 705,525 | ||||||
Credit Suisse AG | ||||||||
6.500% 8/08/23 (a) | 930,000 | 1,022,767 | ||||||
Danske Bank A/S | ||||||||
5.000% 1/12/22 (a) | 455,000 | 469,977 | ||||||
Deutsche Bank AG SOFR + 2.159% | ||||||||
2.222% VRN 9/18/24 | 685,000 | 703,097 | ||||||
The Goldman Sachs Group, Inc. | ||||||||
4.250% 10/21/25 | 1,675,000 | 1,869,724 | ||||||
HSBC Holdings PLC | ||||||||
4.250% 3/14/24 | 865,000 | 940,286 | ||||||
ING Groep NV SOFR + .920% | ||||||||
1.726% VRN 4/01/27 (b) | 407,000 | 406,416 | ||||||
Macquarie Group Ltd. SOFR + 1.069% | ||||||||
1.340% VRN 1/12/27 (a) | 525,000 | 514,911 | ||||||
Morgan Stanley | ||||||||
4.350% 9/08/26 | 1,150,000 | 1,299,932 | ||||||
Sberbank of Russia Via SB Capital SA | ||||||||
5.250% 5/23/23 (a) | 650,000 | 688,089 | ||||||
Societe Generale SA 1 year CMT + 1.100% | ||||||||
1.488% VRN 12/14/26 (a) | 525,000 | 515,728 | ||||||
Synchrony Bank | ||||||||
3.000% 6/15/22 | 470,000 | 482,816 | ||||||
UBS Group AG | ||||||||
4.125% 9/24/25 (a) | 355,000 | 393,877 | ||||||
17,111,649 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Beverages — 0.4% | ||||||||
Bacardi Ltd. | ||||||||
4.450% 5/15/25 (a) | $ | 548,000 | $ | 608,975 | ||||
Molson Coors Beverage Co. | ||||||||
2.100% 7/15/21 | 230,000 | 230,720 | ||||||
839,695 | ||||||||
Chemicals — 1.2% | ||||||||
DuPont de Nemours, Inc. | ||||||||
4.493% 11/15/25 | 705,000 | 796,444 | ||||||
MEGlobal Canada ULC | ||||||||
5.000% 5/18/25 (a) | 450,000 | 500,063 | ||||||
RPM International, Inc. | ||||||||
3.450% 11/15/22 | 8,000 | 8,281 | ||||||
Syngenta Finance NV | ||||||||
4.441% 4/24/23 (a) | 570,000 | 597,134 | ||||||
4.892% 4/24/25 (a) | 335,000 | 358,492 | ||||||
2,260,414 | ||||||||
Commercial Services — 0.9% | ||||||||
Adani Ports & Special Economic Zone Ltd. | ||||||||
3.375% 7/24/24 (a) | 1,443,000 | 1,512,924 | ||||||
Element Fleet Management | ||||||||
1.600% 4/06/24 (a) (b) | 240,000 | 239,719 | ||||||
1,752,643 | ||||||||
Computers — 0.9% | ||||||||
Dell International LLC / EMC Corp. | ||||||||
4.000% 7/15/24 (a) | 414,000 | 449,244 | ||||||
5.850% 7/15/25 (a) | 432,000 | 503,438 | ||||||
Genpact Luxembourg Sarl | ||||||||
3.700% STEP 4/01/22 | 635,000 | 650,833 | ||||||
1,603,515 | ||||||||
Distribution & Wholesale — 0.7% | ||||||||
Li & Fung Ltd. | ||||||||
4.500% 8/18/25 (a) | 1,350,000 | 1,373,952 | ||||||
Diversified Financial Services — 4.3% | ||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
2.875% 8/14/24 | 1,025,000 | 1,056,887 | ||||||
4.500% 9/15/23 | 255,000 | 274,268 | ||||||
Aircastle Ltd. | ||||||||
5.000% 4/01/23 | 1,010,000 | 1,076,474 | ||||||
Antares Holdings LP | ||||||||
3.950% 7/15/26 (a) | 430,000 | 433,455 | ||||||
6.000% 8/15/23 (a) | 473,000 | 496,048 | ||||||
Aviation Capital Group LLC | ||||||||
1.950% 1/30/26 (a) | 480,000 | 467,459 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
2.875% 2/15/25 (a) | 335,000 | 333,648 | ||||||
BGC Partners, Inc. | ||||||||
4.375% 12/15/25 (a) | 505,000 | 537,476 | ||||||
Brookfield Finance, Inc. | ||||||||
4.000% 4/01/24 | 330,000 | 358,309 | ||||||
Lazard Group LLC | ||||||||
3.750% 2/13/25 | 805,000 | 874,302 | ||||||
LeasePlan Corp. NV | ||||||||
2.875% 10/24/24 (a) | 280,000 | 294,360 | ||||||
Park Aerospace Holdings Ltd. | ||||||||
5.250% 8/15/22 (a) | 1,250,000 | 1,312,241 | ||||||
SPARC EM SPC Panama Metro Line 2 SP | ||||||||
0.000% 12/05/22 (a) | 233,565 | 227,728 | ||||||
Synchrony Financial | ||||||||
2.850% 7/25/22 | 355,000 | 364,541 | ||||||
8,107,196 | ||||||||
Electric — 1.1% | ||||||||
Alliant Energy Finance LLC | ||||||||
1.400% 3/15/26 (a) | 260,000 | 254,932 | ||||||
National Central Cooling Co. PJSC | ||||||||
2.500% 10/21/27 (a) | 618,000 | 605,640 | ||||||
Pacific Gas and Electric Co. | ||||||||
1.750% 6/16/22 | 970,000 | 971,469 | ||||||
Puget Energy, Inc. | ||||||||
6.000% 9/01/21 | 260,000 | 265,730 | ||||||
2,097,771 | ||||||||
Energy – Alternate Sources — 0.2% | ||||||||
SK Battery America, Inc. | ||||||||
1.625% 1/26/24 (a) | 300,000 | 297,432 | ||||||
Gas — 0.7% | ||||||||
Atmos Energy Corp. | ||||||||
0.625% 3/09/23 | 365,000 | 365,142 | ||||||
ONE Gas, Inc. | ||||||||
1.100% 3/11/24 | 960,000 | 959,653 | ||||||
1,324,795 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Housewares — 0.5% | ||||||||
Newell Brands, Inc. | ||||||||
4.350% STEP 4/01/23 | $ | 979,000 | $ | 1,034,049 | ||||
Insurance — 2.3% | ||||||||
AmTrust Financial Services, Inc. | ||||||||
6.125% 8/15/23 | 620,000 | 620,336 | ||||||
Athene Global Funding | ||||||||
2.750% 6/25/24 (a) | 820,000 | 863,750 | ||||||
CNO Financial Group, Inc. | ||||||||
5.250% 5/30/25 | 830,000 | 939,525 | ||||||
Enstar Group Ltd. | ||||||||
4.500% 3/10/22 | 685,000 | 705,671 | ||||||
GA Global Funding Trust | ||||||||
1.625% 1/15/26 (a) | 260,000 | 259,552 | ||||||
Trinity Acquisition PLC | ||||||||
3.500% 9/15/21 | 350,000 | 353,729 | ||||||
Unum Group | ||||||||
3.875% 11/05/25 | 620,000 | 670,765 | ||||||
4,413,328 | ||||||||
Internet — 0.3% | ||||||||
Weibo Corp. | ||||||||
3.500% 7/05/24 | 450,000 | 474,110 | ||||||
Investment Companies — 1.8% | ||||||||
Ares Capital Corp. | ||||||||
3.875% 1/15/26 | 535,000 | 563,598 | ||||||
4.200% 6/10/24 | 523,000 | 563,867 | ||||||
BlackRock TCP Capital Corp. | ||||||||
3.900% 8/23/24 | 360,000 | 381,703 | ||||||
4.125% 8/11/22 | 675,000 | 698,064 | ||||||
Golub Capital BDC, Inc. | ||||||||
2.500% 8/24/26 | 270,000 | 264,013 | ||||||
Sixth Street Specialty Lending, Inc. | ||||||||
2.500% 8/01/26 | 125,000 | 123,905 | ||||||
3.875% 11/01/24 | 755,000 | 792,131 | ||||||
3,387,281 | ||||||||
Iron & Steel — 1.9% | ||||||||
Reliance Steel & Aluminum Co. | ||||||||
1.300% 8/15/25 | 355,000 | 350,443 | ||||||
Severstal OAO Via Steel Capital SA | ||||||||
3.150% 9/16/24 (a) | 1,443,000 | 1,480,599 | ||||||
Steel Dynamics, Inc. | ||||||||
2.400% 6/15/25 | 165,000 | 171,906 | ||||||
2.800% 12/15/24 | 250,000 | 264,348 | ||||||
Vale Overseas Ltd. | ||||||||
6.250% 8/10/26 | 1,030,000 | 1,225,185 | ||||||
3,492,481 | ||||||||
Leisure Time — 0.1% | ||||||||
Harley-Davidson, Inc. | ||||||||
3.500% 7/28/25 | 255,000 | 271,231 | ||||||
Lodging — 0.5% | ||||||||
Las Vegas Sands Corp. | ||||||||
3.200% 8/08/24 | 775,000 | 807,967 | ||||||
Marriott International, Inc. | ||||||||
5.750% 5/01/25 | 161,000 | 184,682 | ||||||
992,649 | ||||||||
Machinery – Diversified — 0.3% | ||||||||
CNH Industrial Capital LLC | ||||||||
3.875% 10/15/21 | 635,000 | 645,748 | ||||||
Media — 1.4% | ||||||||
Cable Onda SA | ||||||||
4.500% 1/30/30 (a) | 630,000 | 669,041 | ||||||
Sirius XM Radio, Inc. | ||||||||
3.875% 8/01/22 (a) | 1,047,000 | 1,050,926 | ||||||
ViacomCBS, Inc. | ||||||||
4.750% 5/15/25 | 840,000 | 949,656 | ||||||
2,669,623 | ||||||||
Mining — 0.5% | ||||||||
Glencore Finance Canada Ltd. | ||||||||
4.250% STEP 10/25/22 (a) | 254,000 | 267,530 | ||||||
Glencore Funding LLC | ||||||||
4.125% 5/30/23 (a) | 360,000 | 384,973 | ||||||
Kinross Gold Corp. | ||||||||
5.125% 9/01/21 | 370,000 | 372,668 | ||||||
1,025,171 | ||||||||
Multi-National — 0.5% | ||||||||
Africa Finance Corp. | ||||||||
3.125% 6/16/25 (a) | 957,000 | 983,432 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Oil & Gas — 2.7% | ||||||||
Cenovus Energy, Inc. | ||||||||
3.000% 8/15/22 | $ | 500,000 | $ | 511,521 | ||||
Continental Resources, Inc. | ||||||||
5.000% 9/15/22 | 143,000 | 143,115 | ||||||
Diamondback Energy, Inc. | ||||||||
0.900% 3/24/23 | 625,000 | 624,908 | ||||||
EQT Corp. | ||||||||
3.000% 10/01/22 | 565,000 | 573,475 | ||||||
7.625% STEP 2/01/25 | 320,000 | 368,283 | ||||||
Occidental Petroleum Corp. | ||||||||
5.500% 12/01/25 | 1,100,000 | 1,161,039 | ||||||
Ovintiv Exploration, Inc. | ||||||||
5.625% 7/01/24 | 505,000 | 555,115 | ||||||
Petroleos Mexicanos | ||||||||
4.625% 9/21/23 | 1,215,000 | 1,252,908 | ||||||
5,190,364 | ||||||||
Packaging & Containers — 0.2% | ||||||||
Graphic Packaging International LLC | ||||||||
1.512% 4/15/26 (a) | 395,000 | 392,076 | ||||||
Pharmaceuticals — 1.0% | ||||||||
AbbVie, Inc. | ||||||||
3.800% 3/15/25 | 345,000 | 377,297 | ||||||
McKesson Corp. | ||||||||
0.900% 12/03/25 | 485,000 | 474,786 | ||||||
Mylan, Inc. | ||||||||
3.125% 1/15/23 (a) | 525,000 | 546,994 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||
2.200% 7/21/21 | 240,000 | 239,700 | ||||||
Viatris, Inc. | ||||||||
1.650% 6/22/25 (a) | 190,000 | 190,630 | ||||||
1,829,407 | ||||||||
Pipelines — 1.6% | ||||||||
Energy Transfer Operating LP | ||||||||
4.200% 9/15/23 | 960,000 | 1,027,997 | ||||||
EnLink Midstream Partners LP | ||||||||
4.400% 4/01/24 | 490,000 | 493,920 | ||||||
EQM Midstream Partners LP | ||||||||
4.750% 7/15/23 | 505,000 | 523,938 | ||||||
Plains All American Pipeline LP / PAA Finance Corp. | ||||||||
4.500% 12/15/26 | 90,000 | 98,732 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. | ||||||||
4.650% 10/15/25 | 760,000 | 832,432 | ||||||
2,977,019 | ||||||||
Private Equity — 0.3% | ||||||||
Hercules Capital, Inc. | ||||||||
4.625% 10/23/22 | 610,000 | 620,991 | ||||||
Real Estate — 1.1% | ||||||||
Country Garden Holdings Co. Ltd. | ||||||||
8.000% 1/27/24 (a) | 1,351,000 | 1,436,410 | ||||||
MAF Sukuk Ltd. | ||||||||
4.500% 11/03/25 (a) | 625,000 | 683,875 | ||||||
2,120,285 | ||||||||
Real Estate Investment Trusts (REITS) — 2.2% | ||||||||
Host Hotels & Resorts LP | ||||||||
3.750% 10/15/23 | 950,000 | 1,005,303 | ||||||
SBA Tower Trust | ||||||||
1.884% 7/15/50 (a) | 287,000 | 290,362 | ||||||
Service Properties Trust | ||||||||
4.350% 10/01/24 | 510,000 | 507,010 | ||||||
Tanger Properties LP | ||||||||
3.875% 12/01/23 | 610,000 | 639,518 | ||||||
Trust Fibra Uno | ||||||||
5.250% 1/30/26 (a) | 680,000 | 751,400 | ||||||
VEREIT Operating Partnership LP | ||||||||
4.600% 2/06/24 | 570,000 | 623,576 | ||||||
4.625% 11/01/25 | 335,000 | 378,015 | ||||||
4,195,184 | ||||||||
Retail — 1.1% | ||||||||
Nordstrom, Inc. | ||||||||
2.300% 4/08/24 (a) (b) | 226,000 | 226,359 | ||||||
O'Reilly Automotive, Inc. | ||||||||
3.850% 6/15/23 | 673,000 | 715,054 | ||||||
QVC, Inc. | ||||||||
4.375% 3/15/23 | 1,060,000 | 1,110,350 | ||||||
2,051,763 | ||||||||
Storage & Warehousing — 0.4% | ||||||||
GLP China Holdings Ltd. | ||||||||
4.974% 2/26/24 (a) | 730,000 | 785,290 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Telecommunications — 2.4% | ||||||||
AT&T, Inc. | ||||||||
1.700% 3/25/26 | $ | 935,000 | $ | 934,741 | ||||
Qwest Corp | ||||||||
6.750% 12/01/21 | 485,000 | 501,369 | ||||||
Sprint Communications, Inc. | ||||||||
9.250% 4/15/22 | 330,000 | 354,750 | ||||||
Telefonaktiebolaget LM Ericsson | ||||||||
4.125% 5/15/22 | 628,000 | 650,193 | ||||||
Tower Bersama Infrastructure Tbk PT | ||||||||
4.250% 1/21/25 (a) | 1,445,000 | 1,517,252 | ||||||
Verizon Communications, Inc. | ||||||||
1.450% 3/20/26 | 485,000 | 485,094 | ||||||
4,443,399 | ||||||||
TOTAL CORPORATE DEBT (Cost $86,462,936) | 88,097,777 | |||||||
Municipal Obligations — 0.2% | ||||||||
Louisiana State Public Facilities Authority, Revenue Bonds, Series 2011-A, Class A2, 3 mo. USD LIBOR | ||||||||
1.118% FRN 4/26/27 | 4,491 | 4,499 | ||||||
Pennsylvania Higher Education Assistance Agency, Revenue Bonds, Series 2006-2, Class B, | ||||||||
1.300% FRN 10/25/42 (c) | 400,000 | 398,027 | ||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $398,991) | 402,526 | |||||||
Non-U.S. Government Agency Obligations — 47.6% | ||||||||
Auto Floor Plan Asset-Backed Securities — 0.2% | ||||||||
Navistar Financial Dealer Note Master Owner Trust II | ||||||||
Series 2019-1, Class C, 1 mo. USD LIBOR + .950% 1.059% FRN 5/25/24 (a) | 236,000 | 235,983 | ||||||
Series 2019-1, Class D, 1 mo. USD LIBOR + 1.450% 1.559% FRN 5/25/24 (a) | 214,000 | 214,000 | ||||||
449,983 | ||||||||
Automobile Asset-Backed Securities — 8.7% | ||||||||
AmeriCredit Automobile Receivables Trust, Series 2020-1, Class D | ||||||||
1.800% 12/18/25 | 947,000 | 965,472 | ||||||
Avis Budget Rental Car Funding AESOP LLC | ||||||||
Series 2020-1A, Class C, 3.020% 8/20/26 (a) | 1,259,000 | 1,289,633 | ||||||
Series 2019-3A, Class C, 3.150% 3/20/26 (a) | 1,083,000 | 1,121,995 | ||||||
Series 2019-1A, Class C, 4.530% 3/20/23 (a) | 233,000 | 238,409 | ||||||
Series 2018-1A, Class C, 4.730% 9/20/24 (a) | 500,000 | 531,785 | ||||||
Canadian Pacer Auto Receivables Trust, Series 2018-2A, Class B | ||||||||
3.630% 1/19/24 (a) | 180,000 | 182,496 | ||||||
Carmax Auto Owner Trust, Series 2019-4, Class D | ||||||||
2.800% 4/15/26 | 560,000 | 580,630 | ||||||
Carvana Auto Receivables Trust, Series 2019-4A, Class D | ||||||||
3.070% 7/15/25 (a) | 719,000 | 746,501 | ||||||
Carvana Auto Receivables Trust 2021-N1 | ||||||||
Series 2021-N1, Class C, 1.300% 1/10/28 | 1,660,000 | 1,659,255 | ||||||
Series 2021-N1, Class D, 1.500% 1/10/28 | 1,243,000 | 1,241,952 | ||||||
Drive Auto Receivables Trust, Series 2019-4, Class D | ||||||||
2.700% 2/16/27 | 550,000 | 567,133 | ||||||
Exeter Automobile Receivables Trust, Series 2019-3A, Class D | ||||||||
3.110% 8/15/25 (a) | 400,000 | 414,126 | ||||||
Hertz Fleet Lease Funding LP, Series 2019-1, Class D | ||||||||
3.440% 1/10/33 (a) | 649,000 | 650,077 | ||||||
Hertz Vehicle Financing II LP | ||||||||
Series 2019-3A, Class B, 3.030% 12/26/25 (a) | 410,000 | 409,675 | ||||||
Series 2017-1A, Class B, 3.560% 10/25/21 (a) | 910,000 | 906,254 | ||||||
Hertz Vehicle Financing LLC, Series 2018-3A, Class B | ||||||||
4.370% 7/25/24 (a) | 330,000 | 329,936 | ||||||
Hertz Vehicle Financing LP, Series 2016-2A, Class C | ||||||||
4.990% 3/25/22 (a) | 1,800,000 | 1,795,451 | ||||||
Santander Revolving Auto Loan Trust, Series 2019-A, Class D | ||||||||
3.450% 1/26/32 (a) | 215,000 | 221,324 | ||||||
Tesla Auto Lease Trust, Series 2020-A, Class C | ||||||||
1.680% 2/20/24 (a) | 456,000 | 460,381 | ||||||
Westlake Automobile Receivables Trust 2021-1, Series 2021-1A, Class D | ||||||||
1.230% 4/15/26 (a) | 2,225,000 | 2,223,013 | ||||||
16,535,498 | ||||||||
Commercial Mortgage-Backed Securities — 4.5% | ||||||||
BAMLL Commercial Mortgage Securities Trust | ||||||||
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 1.456% FRN 9/15/34 (a) | 130,000 | 129,035 | ||||||
Series 2019-BPR, Class CMP, 3.895% VRN 11/05/32 (a) (c) | 370,000 | 350,710 | ||||||
Series 2019-BPR, Class DMP, 3.895% VRN 11/05/32 (a) (c) | 450,000 | 387,339 | ||||||
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.606% FRN 7/15/35 (a) | 500,000 | 496,877 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
BX Commercial Mortgage Trust | ||||||||
Series 2020-BXLP, Class D, 1 mo. USD LIBOR + 1.250% 1.356% FRN 12/15/36 (a) | $ | 648,685 | $ | 648,078 | ||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.706% FRN 12/15/36 (a) | 765,448 | 764,492 | ||||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.806% FRN 11/15/35 (a) | 728,000 | 728,000 | ||||||
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.906% FRN 10/15/36 (a) | 297,202 | 297,016 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.106% FRN 10/15/36 (a) | 833,293 | 832,513 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E, 1 mo. USD LIBOR + 2.150% | ||||||||
2.256% FRN 12/15/37 (a) | 545,194 | 545,193 | ||||||
Commercial Mortgage Trust, Series 2014-CR14, Class A2 | ||||||||
3.147% 2/10/47 | 90,050 | 90,095 | ||||||
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600% | ||||||||
1.706% FRN 5/15/36 (a) | 200,000 | 200,125 | ||||||
Hudson Yards Mortgage Trust, Series 2019-30HY, Class E, | ||||||||
3.443% VRN 7/10/39 (a) (c) | 700,000 | 699,879 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.906% FRN 5/15/36 (a) | 251,000 | 250,922 | ||||||
Life 2021-BMR Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750% | ||||||||
1.856% FRN 3/15/38 (a) | 372,000 | 372,595 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class B | ||||||||
3.769% 2/15/46 | 250,000 | 253,946 | ||||||
Morgan Stanley Capital I Trust, Series 2012-STAR, Class D, | ||||||||
3.927% VRN 8/05/34 (a) (c) | 400,000 | 396,084 | ||||||
One New York Plaza Trust | ||||||||
Series 2020-1NYP, Class C, 1 mo. USD LIBOR + 2.200% 2.306% FRN 1/15/26 (a) | 616,000 | 622,147 | ||||||
Series 2020-1NYP, Class D, 1 mo. USD LIBOR + 2.750% 2.856% FRN 1/15/26 (a) | 414,000 | 418,131 | ||||||
8,483,177 | ||||||||
Home Equity Asset-Backed Securities — 0.0% | ||||||||
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .240% | ||||||||
0.349% FRN 10/25/34 (a) | 48,061 | 47,694 | ||||||
Other Asset-Backed Securities — 20.5% | ||||||||
321 Henderson Receivables I LLC | ||||||||
Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% 0.306% FRN 3/15/41 (a) | 22,147 | 21,929 | ||||||
Series 2010-3A, Class A 3.820% 12/15/48 (a) | 145,977 | 155,960 | ||||||
Adams Outdoor Advertising LP, Series 2018-1, Class A | ||||||||
4.810% 11/15/48 (a) | 379,306 | 406,298 | ||||||
Ares LV CLO Ltd., Series 2020-55A, Class A1, 3 mo. USD LIBOR + 1.700% | ||||||||
1.941% FRN 4/15/31 (a) | 500,000 | 500,938 | ||||||
Bain Capital Credit CLO Ltd., Series 2020-2A, Class A, 3 mo. USD LIBOR + 1.850% | ||||||||
2.073% FRN 7/21/31 (a) | 500,000 | 501,293 | ||||||
BlueMountain Fuji US CLO I Ltd., Series 2017-1A, Class A1R, 3 mo. USD LIBOR + .980% | ||||||||
1.170% FRN 7/20/29 (a) | 550,000 | 550,001 | ||||||
BRE Grand Islander Timeshare Issuer LLC | ||||||||
Series 2017-1A, Class A, 2.940% 5/25/29 (a) | 84,315 | 84,540 | ||||||
Series 2019-A, Class B, 3.780% 9/26/33 (a) | 238,745 | 240,216 | ||||||
Business Jet Securities LLC | ||||||||
Series 2021-1A, Class A, 2.162% 4/15/36 (a) | 960,000 | 957,077 | ||||||
Series 2020-1A, Class A, 2.981% 11/15/35 (a) | 224,553 | 227,275 | ||||||
Capital Automotive REIT | ||||||||
Series 2017-1A, Class A1, 3.870% 4/15/47 (a) | 238,426 | 238,821 | ||||||
Series 2017-1A, Class A2, 4.180% 4/15/47 (a) | 596,064 | 633,395 | ||||||
CARS-DB4 LP, Series 2020-1A, Class B1 | ||||||||
4.170% 2/15/50 (a) | 484,000 | 509,596 | ||||||
Castlelake Aircraft Structured Trust, Series 2018-1, Class A | ||||||||
4.125% 6/15/43 (a) | 264,757 | 265,290 | ||||||
Cbam CLO Management Cbam, Series 2018-6A, Class A1R, 3 mo. USD LIBOR + 1.270% | ||||||||
1.511% FRN 1/15/31 (a) | 500,000 | 500,028 | ||||||
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980% | ||||||||
1.204% FRN 4/20/31 (a) | 250,000 | 250,001 | ||||||
CF Hippolyta LLC, Series 2020-1, Class B1 | ||||||||
2.280% 7/15/60 (a) | 96,392 | 97,979 | ||||||
DataBank Issuer, Series 2021-1A, Class A2 | ||||||||
2.060% 2/27/51 (a) | 991,000 | 989,018 | ||||||
DB Master Finance LLC | ||||||||
Series 2019-1A, Class A2I, 3.787% 5/20/49 (a) | 271,860 | 276,603 | ||||||
Series 2019-1A, Class A2II, 4.021% 5/20/49 (a) | 321,110 | 335,191 | ||||||
Diamond Resorts Owner Trust, Series 2018-1, Class A | ||||||||
3.700% 1/21/31 (a) | 129,582 | 135,411 | ||||||
Domino's Pizza Master Issuer LLC, Series 2018-1A, Class A2I | ||||||||
4.116% 7/25/48 (a) | 351,900 | 368,151 | ||||||
Elara HGV Timeshare Issuer LLC | ||||||||
Series 2017-A, Class A, 2.690% 3/25/30 (a) | 92,016 | 94,776 | ||||||
Series 2016-A, Class A, 2.730% 4/25/28 (a) | 163,523 | 162,636 | ||||||
Series 2017-A, Class B, 2.960% 3/25/30 (a) | 272,639 | 267,973 | ||||||
Series 2014-A, Class B, 3.020% VRN 2/25/27 (a) (c) | 16,721 | 16,706 | ||||||
Series 2019-A, Class C, 3.450% 1/25/34 (a) | 563,586 | 550,643 | ||||||
Elmwood CLO II Ltd., Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.450% | ||||||||
1.674% FRN 4/20/31 (a) | 350,000 | 350,067 | ||||||
FCI Funding LLC, Series 2019-1A, Class A | ||||||||
3.630% 2/18/31 (a) | 61,084 | 61,986 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Flatiron CLO 17 Ltd., Series 2017-1A, Class AR, 3 mo. USD LIBOR + .980% | ||||||||
1.178% FRN 5/15/30 (a) | $ | 500,000 | $ | 499,735 | ||||
FNA VI LLC, Series 2021-1A, Class A | ||||||||
1.350% 1/10/32 (a) | 2,013,343 | 2,010,038 | ||||||
Goodgreen Trust | ||||||||
Series 2019-2A, Class A, 2.760% 10/15/54 (a) | 527,138 | 534,629 | ||||||
Series 2016-1A, Class A, 3.230% 10/15/52 (a) | 262,424 | 267,176 | ||||||
Series 2019-1A, Class A, 3.860% 10/15/54 (a) | 252,103 | 264,501 | ||||||
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (c) | 228,038 | 245,090 | ||||||
Hero Funding Trust | ||||||||
Series 2017-3A, Class A1, 3.190% 9/20/48 (a) | 150,497 | 157,272 | ||||||
Series 2016-4A, Class A1, 3.570% 9/20/47 (a) | 149,656 | 155,828 | ||||||
Series 2015-1A, Class A, 3.840% 9/21/40 (a) | 308,435 | 323,448 | ||||||
Series 2018-1A, Class A2, 4.670% 9/20/48 (a) | 273,324 | 299,752 | ||||||
Hilton Grand Vacations Trust, Series 2017-AA, Class B | ||||||||
2.960% 12/26/28 (a) | 101,431 | 102,478 | ||||||
HIN Timeshare Trust, Series 2020-A, Class B | ||||||||
2.230% 10/09/39 (a) | 874,340 | 887,007 | ||||||
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A | ||||||||
4.458% 12/15/38 (a) | 523,988 | 530,173 | ||||||
Horizon Aircraft Finance III Ltd. | ||||||||
Series 2019-2, Class A, 3.425% 11/15/39 (a) | 381,392 | 376,472 | ||||||
Series 2019-2, Class B, 4.458% 11/15/39 (a) | 683,333 | 660,227 | ||||||
Kayne CLO, 3 mo. USD LIBOR + 1.400% | ||||||||
1.568% FRN 7/15/31 (a) | 350,000 | 350,001 | ||||||
KDAC Aviation Finance Ltd., Series 2017-1A, Class A | ||||||||
4.212% 12/15/42 (a) | 188,440 | 182,338 | ||||||
KKR CLO Ltd., Series 28A, Class A, 3 mo. USD LIBOR + 1.140% | ||||||||
1.324% FRN 3/15/31 (a) | 250,000 | 250,010 | ||||||
KREF Ltd. | ||||||||
Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.100% 1.208% FRN 6/15/36 (a) | 795,576 | 795,570 | ||||||
Series 2018-FL1, Class AS, 1 mo. USD LIBOR + 1.350% 1.458% FRN 6/15/36 (a) | 1,150,000 | 1,149,277 | ||||||
Lendmark Funding Trust, Series 2018-1A, Class A | ||||||||
3.810% 12/21/26 (a) | 350,000 | 356,429 | ||||||
Lunar Aircraft Ltd., Series 2020-1A, Class A | ||||||||
3.376% 2/15/45 (a) | 167,779 | 164,416 | ||||||
MACH 1 Cayman Ltd., Series 2019-1, Class A | ||||||||
3.474% 10/15/39 (a) | 336,392 | 338,392 | ||||||
Magnetite XXVI Ltd., Series 2020-26A, Class A, 3 mo. USD LIBOR + 1.750% | ||||||||
1.991% FRN 7/15/30 (a) | 750,000 | 751,450 | ||||||
Marlette Funding Trust | ||||||||
Series 2019-2A, Class A, 3.130% 7/16/29 (a) | 30,758 | 30,998 | ||||||
Series 2019-2A, Class B, 3.530% 7/16/29 (a) | 146,000 | 149,002 | ||||||
Mosaic Solar Loans LLC, Series 2018-2GS, Class A | ||||||||
4.200% 2/22/44 (a) | 205,758 | 223,653 | ||||||
Mosaic Solar Loans Trust, Series 2017-1A, Class A | ||||||||
4.450% 6/20/42 (a) | 51,908 | 56,572 | ||||||
Neuberger Berman CLO Ltd., Series 2015-20A, Class BR, 3 mo. USD LIBOR + 1.250% | ||||||||
1.491% FRN 1/15/28 (a) | 600,000 | 599,056 | ||||||
Neuberger Berman Loan Advisers CLO 25 Ltd., Series 2017-25A, Class BR, 3 mo. USD LIBOR + 1.350% | ||||||||
1.542% FRN 10/18/29 (a) | 1,000,000 | 1,000,004 | ||||||
Newark BSL CLO 2 Ltd., Series 2017-1A, Class A2R, 3 mo. USD LIBOR + 1.400% | ||||||||
1.584% FRN 7/25/30 (a) | 250,000 | 250,000 | ||||||
NP SPE II LLC | ||||||||
Series 2019-1A, Class A1, 2.574% 9/20/49 (a) | 184,629 | 189,509 | ||||||
Series 2017-1A, Class A1, 3.372% 10/21/47 (a) | 124,259 | 127,692 | ||||||
NRZ Advance Receivables Trust, Series 2020-T3, Class DT3 | ||||||||
2.458% 10/15/52 (a) | 411,000 | 411,009 | ||||||
Oak Street Investment Grade Net Lease Fund, Series 2020-1A, Class A3 | ||||||||
2.260% 11/20/50 (a) | 400,000 | 401,439 | ||||||
OneMain Financial Issuance Trust, Series 2019-2A, Class C | ||||||||
3.660% 10/14/36 (a) | 600,000 | 626,263 | ||||||
Orange Lake Timeshare Trust | ||||||||
Series 2016-A, Class B, 2.910% 3/08/29 (a) | 113,673 | 112,846 | ||||||
Series 2019-A, Class D, 4.930% 4/09/38 (a) | 444,285 | 442,757 | ||||||
Oxford Finance Funding Trust, Series 2020-1A, Class A2 | ||||||||
3.101% 2/15/28 (a) | 281,000 | 287,264 | ||||||
Planet Fitness Master Issuer LLC, Series 2018-1A, Class A2I | ||||||||
4.262% 9/05/48 (a) | 585,000 | 594,629 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | ||||||||
2.959% FRN 2/25/23 (a) | 250,000 | 249,701 | ||||||
RAMP Trust, Series 2005-EFC1, Class M5, 1 mo. USD LIBOR + .650% | ||||||||
1.093% FRN 5/25/35 | 500,000 | 494,694 | ||||||
Rockford Tower CLO Ltd., Series 2017-3A, Class A, 3 mo. USD LIBOR + 1.190% | ||||||||
1.414% FRN 10/20/30 (a) | 1,000,000 | 1,000,253 | ||||||
RR 3 Ltd., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090% | ||||||||
1.331% FRN 1/15/30 (a) | 400,000 | 399,617 | ||||||
SBA Tower Trust, Series 2014-2A, Class C, | ||||||||
3.869% STEP 10/15/49 (a) | 430,000 | 455,531 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Sierra Receivables Funding LLC | ||||||||
Series 2017-1A, Class A, 2.910% 3/20/34 (a) | $ | 124,650 | $ | 126,546 | ||||
Series 2019-3A, Class C, 3.000% 8/20/36 (a) | 281,519 | 285,504 | ||||||
Series 2020-2A, Class C, 3.510% 7/20/37 (a) | 93,029 | 95,796 | ||||||
Series 2018-1A, Class B, 4.036% 4/20/35 | 270,452 | 277,804 | ||||||
Series 2019-1A, Class D, 4.750% 1/20/36 (a) | 227,342 | 234,385 | ||||||
SoFi Consumer Loan Program LLC, Series 2016-1A, Class A | ||||||||
3.260% 8/25/25 (a) | 79,851 | 79,982 | ||||||
SoFi Consumer Loan Program Trust, Series 2019-3, Class D | ||||||||
3.890% 5/25/28 (a) | 772,000 | 793,666 | ||||||
Stack Infrastructure Issuer LLC, Series 2020-1A, Class A2 | ||||||||
1.893% 8/25/45 (a) | 162,000 | 162,353 | ||||||
Store Master Funding I-VII, Series 2018-1A, Class A3 | ||||||||
4.400% 10/20/48 (a) | 512,633 | 527,806 | ||||||
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + 1.200% | ||||||||
0.909% FRN 11/25/35 (a) | 196,309 | 190,177 | ||||||
TAL Advantage VII LLC, Series 2020-1A, Class B | ||||||||
3.820% 9/20/45 (a) | 852,750 | 867,284 | ||||||
TICP CLO XI Ltd., Series 2018-11A, Class A, 3 mo. USD LIBOR + 1.180% | ||||||||
1.404% FRN 10/20/31 (a) | 400,000 | 400,017 | ||||||
TLF National Tax Lien Trust, Series 2017-1A, Class A | ||||||||
3.090% 12/15/29 (a) | 29,068 | 29,252 | ||||||
Trafigura Securitisation Finance PLC | ||||||||
Series 2018-1A, Class A1, 1 mo. USD LIBOR + .730% 0.836% FRN 3/15/22 (a) | 610,000 | 609,838 | ||||||
Series 2018-1A, Class B, 4.290% 3/15/22 (a) | 920,000 | 921,173 | ||||||
Treman Park CLO Ltd., Series 2015-1A, Class ARR, 3 mo. USD LIBOR + 1.070% | ||||||||
1.294% FRN 10/20/28 (a) | 915,644 | 916,121 | ||||||
Trinity Rail Leasing LP, Series 2019-1A, Class A | ||||||||
3.820% 4/17/49 (a) | 625,108 | 638,916 | ||||||
Trip Rail Master Funding LLC | ||||||||
Series 2017-1A, Class A1, 2.709% 8/15/47 (a) | 21,308 | 21,322 | ||||||
Series 2011-1A, Class A2, 6.024% 7/15/41 (a) | 668,991 | 673,239 | ||||||
Vantage Data Centers LLC, Series 2020-1A, Class A2 | ||||||||
1.645% 9/15/45 (a) | 675,000 | 675,231 | ||||||
VSE VOI Mortgage LLC, Series 2018-A, Class C | ||||||||
4.020% 2/20/36 (a) | 133,097 | 136,153 | ||||||
Welk Resorts LLC | ||||||||
Series 2015-AA, Class A, 2.790% 6/16/31 (a) | 27,533 | 27,533 | ||||||
Series 2017-AA, Class B, 3.410% 6/15/33 (a) | 94,788 | 93,654 | ||||||
Westgate Resorts LLC | ||||||||
Series 2017-1A, Class A, 3.050% 12/20/30 (a) | 61,629 | 62,205 | ||||||
Series 2018-1A, Class A, 3.380% 12/20/31 (a) | 148,543 | 150,647 | ||||||
Willis Engine Structured Trust IV, Series 2018-A, Class A, | ||||||||
4.750% STEP 9/15/43 (a) | 218,849 | 217,619 | ||||||
38,718,219 | ||||||||
Student Loans Asset-Backed Securities — 6.6% | ||||||||
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.609% FRN 7/25/58 (a) | 140,000 | 128,030 | ||||||
College Ave Student Loans 2021-A LLC, Series 2021-A, Class B | ||||||||
2.320% 7/25/51 (a) | 1,091,000 | 1,079,127 | ||||||
College Avenue Student Loans LLC | ||||||||
Series 2018-A, Class A1, 1 mo. USD LIBOR + 1.200% 1.309% FRN 12/26/47 (a) | 390,287 | 392,619 | ||||||
Series 2017-A, Class A1, FRN, 1 mo. USD LIBOR + 1.650% 1.759% FRN 11/26/46 (a) | 304,501 | 309,310 | ||||||
Series 2017-A, Class B, 4.500% 11/26/46 (a) | 700,000 | 740,460 | ||||||
College Loan Corp. Trust I, Series 2005-2, Class B, 3 mo. USD LIBOR + .490% | ||||||||
0.731% FRN 1/15/37 | 155,356 | 139,199 | ||||||
Commonbond Student Loan Trust | ||||||||
Series 2018-AGS, Class C, 3.820% 2/25/44 (a) | 31,054 | 30,348 | ||||||
Series 2018-BGS, Class C, 4.120% 9/25/45 (a) | 35,466 | 35,033 | ||||||
Series 2018-CGS, Class C, 4.350% 2/25/46 (a) | 18,192 | 17,781 | ||||||
Series 2017-AGS, Class C, 5.280% 5/25/41 (a) | 65,114 | 66,787 | ||||||
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B | ||||||||
2.500% 1/25/30 (a) | 51,661 | 51,807 | ||||||
Earnest Student Loan Program LLC, Series 2016-B, Class A1, 1 mo. USD LIBOR + 2.050% | ||||||||
2.159% FRN 2/26/35 (a) | 40,783 | 38,723 | ||||||
ECMC Group Student Loan Trust, Series 2018-2A, Class A, 1 mo. USD LIBOR + .800% | ||||||||
0.909% FRN 9/25/68 (a) | 384,460 | 385,244 | ||||||
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150% | ||||||||
2.100% FRN 12/01/47 (a) | 282,314 | 278,787 | ||||||
ELFI Graduate Loan Program LLC, Series 2018-A, Class B | ||||||||
4.000% 8/25/42 (a) | 145,609 | 148,937 | ||||||
Higher Education Funding I, Series 2004-1, Class B1, | ||||||||
1.796% FRN 1/01/44 (a) (c) | 950,000 | 846,888 | ||||||
Laurel Road Prime Student Loan Trust | ||||||||
Series 2019-A, Class BFX, 3.000% 10/25/48 (a) | 256,646 | 251,584 | ||||||
Series 2017-B, Class CFX, 3.610% 8/25/42 (a) | 172,101 | 160,558 | ||||||
Series 2018-B, Class BFX, 3.720% 5/26/43 (a) | 191,151 | 189,940 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Navient Private Education Refi Loan Trust, Series 2020-BA, Class B | ||||||||
2.770% 1/15/69 (a) | $ | 2,200,000 | $ | 2,255,292 | ||||
Nelnet Private Education Loan Trust | ||||||||
Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750% 1.859% FRN 12/26/40 (a) | 72,194 | 72,492 | ||||||
Series 2016-A, Class A1B, 3.600% 12/26/40 (a) | 51,986 | 52,232 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2007-2A, Class A4A2, 1.497% FRN 6/25/35 (a) (c) | 600,000 | 593,869 | ||||||
Series 2014-1A, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 10/25/47 (a) | 270,000 | 270,611 | ||||||
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.609% FRN 6/25/54 (a) | 130,000 | 130,358 | ||||||
SLC Student Loan Trust, Series 2005-1, Class B, 3 mo. USD LIBOR + .200% | ||||||||
0.398% FRN 2/15/45 | 282,236 | 263,072 | ||||||
SLM Student Loan Trust | ||||||||
Series 2006-2, Class R, 0.000% 1/25/41 | 1,396 | 861,441 | ||||||
Series 2006-7, Class B, 3 mo. USD LIBOR + .200% 0.418% FRN 1/27/42 | 848,319 | 772,154 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.428% FRN 10/25/40 | 340,287 | 314,082 | ||||||
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.508% FRN 1/25/44 | 460,892 | 424,733 | ||||||
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 0.518% FRN 7/25/25 | 71,246 | 70,871 | ||||||
Series 2005-9, Class B, 3 mo. USD LIBOR + .300% 0.518% FRN 1/25/41 | 347,182 | 324,362 | ||||||
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.528% FRN 1/25/55 | 136,725 | 127,938 | ||||||
SMB Private Education Loan Trust | ||||||||
Series 2018-C, Class A2B, 1 mo. USD LIBOR + .750% 0.856% FRN 11/15/35 (a) | 405,823 | 402,816 | ||||||
Series 2016-C, Class A2B, 1 mo. USD LIBOR + 1.100% 1.206% FRN 9/15/34 (a) | 147,286 | 148,600 | ||||||
Series 2014-A, Class A2B, 1 mo. USD LIBOR + 1.150% 1.256% FRN 5/15/26 (a) | 68,543 | 68,619 | ||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2016-D, Class A1, 1 mo. USD LIBOR + .950% 1.059% FRN 1/25/39 (a) | 22,881 | 22,972 | ||||||
Series 2016-B, Class A1, 1 mo. USD LIBOR + 1.200% 1.309% FRN 6/25/33 (a) | 41,446 | 41,688 | ||||||
12,509,364 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 7.1% | ||||||||
Angel Oak Mortgage Trust | ||||||||
Series 2020-5, Class A2, 1.579% VRN 5/25/65 (a) (c) | 341,581 | 342,253 | ||||||
Series 2020-5, Class A3, 2.041% VRN 5/25/65 (a) (c) | 307,883 | 310,703 | ||||||
Series 2018-3, Class A3, 3.238% VRN 5/25/59 (a) (c) | 179,690 | 181,478 | ||||||
Series 2019-6, Class M1, 3.389% VRN 11/25/59 (a) (c) | 800,000 | 807,720 | ||||||
Angel Oak Mortgage Trust 2021-1, Series 2021-1, Class M1, | ||||||||
2.215% VRN 1/25/66 (a) (c) | 314,000 | 316,243 | ||||||
Bank of America Mortgage Securities, Series 2004-G, Class 2A7, | ||||||||
3.074% VRN 8/25/34 (c) | 3,025 | 2,982 | ||||||
BRAVO Residential Funding Trust, Series 2020-NQM1, Class A3, | ||||||||
2.406% VRN 5/25/60 (a) (c) | 319,255 | 323,254 | ||||||
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000% | ||||||||
1.068% FRN 8/25/49 (a) | 837,680 | 839,246 | ||||||
Citigroup Mortgage Loan Trust | ||||||||
Series 2019-IMC1, Class A3, 3.030% VRN 7/25/49 (a) (c) | 339,082 | 344,509 | ||||||
Series 2019-IMC1, Class M1, 3.170% VRN 7/25/49 (a) (c) | 391,000 | 398,063 | ||||||
Credit Suisse Mortgage Trust Series 21-NQM2, Class A3, | ||||||||
1.538% VRN 2/25/66 (a) (c) (d) | 1,100,000 | 1,099,985 | ||||||
Deephaven Residential Mortgage Trust | ||||||||
Series 2021-1, Class A3, 1.128% VRN 5/25/65 (a) (c) | 473,586 | 471,113 | ||||||
Series 2019-4A, Class M1, 3.484% VRN 10/25/59 (a) (c) | 550,000 | 554,901 | ||||||
Homeward Opportunities Fund I Trust, Series 2020-2, Class A1, | ||||||||
1.657% VRN 5/25/65 (a) (c) | 335,469 | 337,419 | ||||||
JP Morgan Mortgage Trust | ||||||||
Series 2018-1, Class A5, 3.500% VRN 6/25/48 (a) (c) | 16,088 | 16,109 | ||||||
Series 2018-3, Class A5, 3.500% VRN 9/25/48 (a) (c) | 76,460 | 76,952 | ||||||
Series 2017-6, Class A5, 3.500% VRN 12/25/48 (a) (c) | 26,902 | 26,952 | ||||||
New Residential Mortgage Loan Trust, Series 2016-4A, Class A1, | ||||||||
3.750% VRN 11/25/56 (a) (c) | 196,147 | 205,495 | ||||||
OBX 2021-NQM1 Trust, Series 2021-NQM1, Class M1, | ||||||||
2.219% VRN 2/25/66 (a) (c) | 333,000 | 333,000 | ||||||
Onslow Bay Financial LLC, Series 2020-INV1, Class A21, | ||||||||
3.500% VRN 12/25/49 (a) (c) | 425,428 | 425,575 | ||||||
Sequoia Mortgage Trust | ||||||||
Series 2018-3, Class A4, 3.500% VRN 3/25/48 (a) (c) | 46,891 | 46,999 | ||||||
Series 2018-CH1, Class A10, 4.000% VRN 2/25/48 (a) (c) | 35,073 | 35,175 | ||||||
Series 2018-CH2, Class A12, 4.000% VRN 6/25/48 (a) (c) | 67,500 | 67,722 | ||||||
Series 2018-CH3, Class A11, 4.000% VRN 8/25/48 (a) (c) | 11,664 | 11,669 | ||||||
Shellpoint Co-Originator Trust, Series 2016-1, Class 2A3, | ||||||||
3.000% VRN 10/25/31 (a) (c) | 358,746 | 361,829 | ||||||
STAR Trust, Series 2021-1, Class A3, | ||||||||
1.528% VRN 5/25/65 (a) (c) | 1,740,000 | 1,740,578 | ||||||
Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3, | ||||||||
2.916% VRN 9/27/49 (a) (c) | 532,984 | 542,615 | ||||||
Verus Securitization Trust | ||||||||
Series 2020-1, Class M1, 3.021% VRN 1/25/60 (a) (c) | 1,034,000 | 1,062,751 | ||||||
Series 2019-4, Class M1, 3.207% VRN 11/25/59 (a) (c) | 430,000 | 435,140 | ||||||
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (c) | 813,605 | 830,060 | ||||||
Series 2019-INV3, Class M1, 3.279% VRN 11/25/59 (a) (c) | 265,000 | 272,492 | ||||||
Series 2020-4, Class M1, 3.291% VRN 5/25/65 (a) (c) | 548,000 | 568,272 | ||||||
13,389,254 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $89,229,066) | 90,133,189 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
U.S. Government Agency Obligations and Instrumentalities — 1.8% | ||||||||
Pass-Through Securities — 0.0% | ||||||||
Federal National Mortgage Association Pool #775539 12 mo. USD LIBOR + 1.641% 2.516% 5/01/34 | $ | 2,554 | $ | 2,650 | ||||
Government National Mortgage Association | ||||||||
Pool #371146 7.000% 9/15/23 | 22 | 22 | ||||||
Pool #352022 7.000% 11/15/23 | 355 | 374 | ||||||
Pool #491089 7.000% 12/15/28 | 1,109 | 1,208 | ||||||
Pool #500928 7.000% 5/15/29 | 545 | 627 | ||||||
Pool #499410 7.000% 7/15/29 | 202 | 233 | ||||||
Pool #510083 7.000% 7/15/29 | 136 | 156 | ||||||
Pool #493723 7.000% 8/15/29 | 405 | 467 | ||||||
Pool #581417 7.000% 7/15/32 | 798 | 910 | ||||||
Government National Mortgage Association II | ||||||||
Pool #008746 1 year CMT + 1.500% 2.125% FRN 11/20/25 | 429 | 436 | ||||||
Pool #080136 1 year CMT + 1.500% 2.125% FRN 11/20/27 | 97 | 99 | ||||||
7,182 | ||||||||
Whole Loans — 1.8% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
Series 2021-DNA2, Class M2, SOFR30A + 2.300% 2.317% FRN 8/25/33 (a) | 955,000 | 955,383 | ||||||
Series 2020-DNA5, Class M2, SOFR30A + 2.800% 2.817% FRN 10/25/50 (a) | 566,000 | 569,633 | ||||||
Series 2020-DNA3, Class M2, 1 mo. USD LIBOR + 3.000% 3.109% FRN 6/25/50 (a) | 1,183,021 | 1,186,996 | ||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust | ||||||||
Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% 2.259% FRN 9/25/31 (a) | 279,450 | 280,075 | ||||||
Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 2.409% FRN 8/25/31 (a) | 360,744 | 360,981 | ||||||
3,353,068 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $3,354,826) | 3,360,250 | |||||||
U.S. Treasury Obligations — 0.7% | ||||||||
U.S. Treasury Bonds & Notes — 0.7% | ||||||||
U.S. Treasury Note | ||||||||
8.000% 11/15/21 (e) | 1,220,000 | 1,280,118 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,395,661) | 1,280,118 | |||||||
TOTAL BONDS & NOTES (Cost $180,841,480) | 183,273,860 | |||||||
TOTAL PURCHASED OPTIONS (#) — 0.1% (Cost $147,532) | 138,323 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $180,989,012) | 183,412,183 | |||||||
Short-Term Investments — 2.0% | ||||||||
Commercial Paper — 1.6% | ||||||||
E.I. du Point Nemours & Co. | ||||||||
0.233% 5/17/21 (a) | 1,000,000 | 999,728 | ||||||
Entergy Corp. | ||||||||
0.233% 5/18/21 (a) | 2,000,000 | 1,999,355 | ||||||
2,999,083 | ||||||||
Repurchase Agreement — 0.4% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (f) | 800,049 | 800,049 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $3,799,155) | 3,799,132 | |||||||
TOTAL INVESTMENTS — 99.0% (Cost $184,788,167) (g) | 187,211,315 | |||||||
Other Assets/(Liabilities) — 1.0% | 1,843,567 | |||||||
NET ASSETS — 100.0% | $ | 189,054,882 |
Abbreviation Legend
CLO | Collateralized Loan Obligation |
FRN | Floating Rate Note |
STEP | Step Up Bond |
VRN | Variable Rate Note |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $121,587,614 or 64.31% of net assets. |
(b) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(c) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at March 31, 2021. |
(d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At March 31, 2021, these securities amounted to a value of $1,099,985 or 0.58% of net assets. |
(e) | A portion of this security is pledged/held as collateral for open derivatives. |
(f) | Maturity value of $800,049. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $816,102. |
(g) | See Note 3 for aggregate cost for federal tax purposes. |
(#) Interest Rate Swaptions Purchased
Paid by Fund | Received by Fund | |||||||||||||||||||||||||||
Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional Amount | Value | Premium Paid (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
Put | ||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 2/02/43 | Credit Suisse International | 1/31/33 | 3.11% | Semi-Annually | 3-Month USD LIBOR BBA | Quarterly | USD | 3,080,000 | $ | 138,323 | $ | 147,532 | $ | (9,209 | ) |
Futures contracts
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||
Long | ||||||||||||
U.S. Treasury Note 10 Year | 6/21/21 | 152 | $ | 20,418,361 | $ | (515,861 | ) | |||||
Short | ||||||||||||
U.S. Treasury Ultra 10 Year | 6/21/21 | 54 | $ | (8,036,970 | ) | $ | 277,845 | |||||
U.S. Treasury Note 2 Year | 6/30/21 | 123 | (27,167,671 | ) | 18,304 | |||||||
U.S. Treasury Note 5 Year | 6/30/21 | 603 | (75,270,655 | ) | 861,397 | |||||||
90 Day Eurodollar | 9/13/21 | 3 | (731,728 | ) | (16,847 | ) | ||||||
90 Day Eurodollar | 3/14/22 | 3 | (731,503 | ) | (16,735 | ) | ||||||
90 Day Eurodollar | 9/19/22 | 3 | (731,203 | ) | (16,022 | ) | ||||||
90 Day Eurodollar | 3/13/23 | 2 | (487,168 | ) | (9,807 | ) | ||||||
90 Day Eurodollar | 12/18/23 | 3 | (730,078 | ) | (10,885 | ) | ||||||
90 Day Eurodollar | 12/16/24 | 7 | (1,701,414 | ) | (15,861 | ) | ||||||
$ | 1,071,389 |
Currency Legend | |
USD | U.S. Dollar |
MML Small Cap Equity Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 99.6% | ||||||||
Common Stock — 99.6% | ||||||||
Basic Materials — 2.8% | ||||||||
Chemicals — 0.5% | ||||||||
Diversey Holdings Ltd. (a) | 49,541 | $ | 728,748 | |||||
Mining — 2.3% | ||||||||
Compass Minerals International, Inc. | 23,834 | 1,494,869 | ||||||
Kaiser Aluminum Corp. | 15,628 | 1,726,894 | ||||||
3,221,763 | ||||||||
3,950,511 | ||||||||
Communications — 2.8% | ||||||||
Internet — 2.3% | ||||||||
Overstock.com, Inc. (a) | 23,599 | 1,563,670 | ||||||
Q2 Holdings, Inc. (a) (b) | 17,286 | 1,732,057 | ||||||
3,295,727 | ||||||||
Telecommunications — 0.5% | ||||||||
EchoStar Corp. Class A (a) | 29,820 | 715,680 | ||||||
4,011,407 | ||||||||
Consumer, Cyclical — 13.4% | ||||||||
Apparel — 0.5% | ||||||||
Carter's, Inc. | 7,582 | 674,267 | ||||||
Auto Parts & Equipment — 3.1% | ||||||||
Allison Transmission Holdings, Inc. | 18,943 | 773,443 | ||||||
Dorman Products, Inc. (a) | 17,157 | 1,760,995 | ||||||
Visteon Corp. (a) | 16,114 | 1,965,102 | ||||||
4,499,540 | ||||||||
Entertainment — 0.7% | ||||||||
Cedar Fair LP (c) | 20,706 | 1,028,674 | ||||||
Retail — 9.1% | ||||||||
AutoNation, Inc. (a) | 34,502 | 3,216,276 | ||||||
BJ's Wholesale Club Holdings, Inc. (a) | 43,867 | 1,967,874 | ||||||
Denny's Corp. (a) | 88,605 | 1,604,637 | ||||||
Foot Locker, Inc. | 16,052 | 902,925 | ||||||
Jack in the Box, Inc. | 16,632 | 1,825,861 | ||||||
Suburban Propane Partners LP (c) | 100,014 | 1,482,207 | ||||||
Texas Roadhouse, Inc. | 20,981 | 2,012,917 | ||||||
13,012,697 | ||||||||
19,215,178 | ||||||||
Consumer, Non-cyclical — 25.1% | ||||||||
Biotechnology — 4.0% | ||||||||
ADC Therapeutics SA (a) (b) | 10,597 | 258,673 | ||||||
Avid Bioservices, Inc. (a) | 25,960 | 473,251 | ||||||
Axsome Therapeutics, Inc. (a) (b) | 5,655 | 320,186 | ||||||
Emergent BioSolutions, Inc. (a) | 20,452 | 1,900,195 | ||||||
NeoGenomics, Inc. (a) | 27,525 | 1,327,531 | ||||||
Twist Bioscience Corp. (a) | 8,653 | 1,071,760 | ||||||
Zai Lab Ltd. ADR (a) | 3,297 | 439,919 | ||||||
5,791,515 | ||||||||
Commercial Services — 6.2% | ||||||||
ASGN, Inc. (a) | 32,632 | 3,114,398 | ||||||
Korn Ferry | 49,173 | 3,066,920 | ||||||
Monro, Inc. | 33,113 | 2,178,835 | ||||||
Paya Holdings, Inc. Class A (a) | 52,905 | 579,839 | ||||||
8,939,992 | ||||||||
Food — 2.4% | ||||||||
BellRing Brands, Inc. Class A (a) | 64,625 | 1,525,796 | ||||||
The Simply Good Foods Co. (a) | 64,332 | 1,956,980 | ||||||
3,482,776 | ||||||||
Health Care – Products — 6.1% | ||||||||
Adaptive Biotechnologies Corp. (a) | 13,690 | 551,159 | ||||||
AtriCure, Inc. (a) | 25,355 | 1,661,260 | ||||||
BioLife Solutions, Inc. (a) | 18,768 | 675,648 | ||||||
Inspire Medical Systems, Inc. (a) | 8,708 | 1,802,469 | ||||||
iRhythm Technologies, Inc. (a) | 4,971 | 690,273 | ||||||
OraSure Technologies, Inc. (a) (b) | 59,619 | 695,754 | ||||||
Repligen Corp. (a) | 4,881 | 948,915 | ||||||
Tandem Diabetes Care, Inc. (a) | 18,640 | 1,644,980 | ||||||
8,670,458 | ||||||||
Health Care – Services — 4.6% | ||||||||
Addus HomeCare Corp. (a) | 17,660 | 1,847,059 | ||||||
LHC Group, Inc. (a) | 11,150 | 2,131,991 | ||||||
Ortho Clinical Diagnostics Holdings PLC Class H (a) | 35,717 | 689,160 | ||||||
Tenet Healthcare Corp. (a) | 35,754 | 1,859,208 | ||||||
6,527,418 | ||||||||
Household Products & Wares — 1.3% | ||||||||
Acco Brands Corp. | 226,316 | 1,910,107 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Pharmaceuticals — 0.5% | ||||||||
Collegium Pharmaceutical, Inc. (a) | 31,113 | $ | 737,378 | |||||
36,059,644 | ||||||||
Energy — 1.5% | ||||||||
Oil & Gas — 1.0% | ||||||||
CNX Resources Corp. (a) | 95,304 | 1,400,969 | ||||||
Pipelines — 0.5% | ||||||||
Noble Midstream Partners LP (c) | 49,742 | 721,259 | ||||||
2,122,228 | ||||||||
Financial — 19.4% | ||||||||
Banks — 5.6% | ||||||||
The Bank of NT Butterfield & Son Ltd. | 46,028 | 1,759,190 | ||||||
BankUnited, Inc. | 40,946 | 1,799,577 | ||||||
Cathay General Bancorp | 34,018 | 1,387,254 | ||||||
Heritage Financial Corp. (b) | 41,236 | 1,164,505 | ||||||
Signature Bank | 5,354 | 1,210,539 | ||||||
Silvergate Capital Corp. Class A (a) | 5,055 | 718,669 | ||||||
8,039,734 | ||||||||
Diversified Financial Services — 3.7% | ||||||||
Federated Hermes, Inc. | 39,874 | 1,248,056 | ||||||
Focus Financial Partners, Inc. Class A (a) | 40,411 | 1,681,906 | ||||||
Stifel Financial Corp. | 37,579 | 2,407,311 | ||||||
5,337,273 | ||||||||
Real Estate Investment Trusts (REITS) — 4.3% | ||||||||
DiamondRock Hospitality Co. (a) | 136,033 | 1,401,140 | ||||||
EPR Properties | 27,814 | 1,295,854 | ||||||
Four Corners Property Trust, Inc. | 72,665 | 1,991,021 | ||||||
National Storage Affiliates Trust | 36,058 | 1,439,796 | ||||||
6,127,811 | ||||||||
Savings & Loans — 5.8% | ||||||||
Berkshire Hills Bancorp, Inc. | 34,969 | 780,508 | ||||||
OceanFirst Financial Corp. | 50,095 | 1,199,274 | ||||||
Pacific Premier Bancorp, Inc. | 42,622 | 1,851,500 | ||||||
Sterling Bancorp | 79,699 | 1,834,671 | ||||||
WSFS Financial Corp. | 54,646 | 2,720,825 | ||||||
8,386,778 | ||||||||
27,891,596 | ||||||||
Industrial — 17.5% | ||||||||
Building Materials — 2.2% | ||||||||
Masonite International Corp. (a) | 13,980 | 1,611,055 | ||||||
Summit Materials, Inc. Class A (a) | 57,728 | 1,617,539 | ||||||
3,228,594 | ||||||||
Electrical Components & Equipment — 1.9% | ||||||||
Energizer Holdings, Inc. | 28,743 | 1,364,143 | ||||||
EnerSys | 14,498 | 1,316,418 | ||||||
2,680,561 | ||||||||
Electronics — 1.6% | ||||||||
Atkore ,Inc. (a) | 31,377 | 2,256,006 | ||||||
Engineering & Construction — 3.5% | ||||||||
Comfort Systems USA, Inc. | 12,315 | 920,793 | ||||||
KBR, Inc. | 57,381 | 2,202,857 | ||||||
TopBuild Corp. (a) | 9,050 | 1,895,341 | ||||||
5,018,991 | ||||||||
Environmental Controls — 0.4% | ||||||||
US Ecology, Inc. (a) | 15,372 | 640,090 | ||||||
Machinery – Diversified — 1.4% | ||||||||
Chart Industries, Inc. (a) | 8,587 | 1,222,359 | ||||||
Curtiss-Wright Corp. | 6,498 | 770,663 | ||||||
1,993,022 | ||||||||
Metal Fabricate & Hardware — 3.0% | ||||||||
Rexnord Corp. | 66,689 | 3,140,385 | ||||||
Valmont Industries, Inc. | 4,926 | 1,170,763 | ||||||
4,311,148 | ||||||||
Miscellaneous - Manufacturing — 1.1% | ||||||||
EnPro Industries, Inc. | 18,912 | 1,612,626 | ||||||
Packaging & Containers — 0.8% | ||||||||
Silgan Holdings, Inc. | 25,747 | 1,082,146 | ||||||
Transportation — 1.6% | ||||||||
CryoPort, Inc. (a) (b) | 25,841 | 1,343,990 | ||||||
Hub Group, Inc. Class A (a) | 13,713 | 922,611 | ||||||
2,266,601 | ||||||||
25,089,785 | ||||||||
Technology — 12.5% | ||||||||
Computers — 2.5% | ||||||||
CACI International, Inc. Class A (a) | 7,130 | 1,758,686 | ||||||
Perspecta, Inc. | 63,086 | 1,832,648 | ||||||
3,591,334 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Semiconductors — 4.6% | ||||||||
Allegro MicroSystems, Inc. (a) | 29,240 | $ | 741,234 | |||||
Brooks Automation, Inc. | 26,901 | 2,196,467 | ||||||
MKS Instruments, Inc. | 10,593 | 1,964,154 | ||||||
Semtech Corp. (a) | 24,184 | 1,668,696 | ||||||
6,570,551 | ||||||||
Software — 5.4% | ||||||||
1Life Healthcare, Inc. (a) | 23,233 | 907,946 | ||||||
Bottomline Technologies de, Inc. (a) | 37,421 | 1,693,300 | ||||||
Envestnet, Inc. (a) | 11,645 | 841,118 | ||||||
Everbridge, Inc. (a) | 5,060 | 613,171 | ||||||
j2 Global, Inc. (a) | 25,240 | 3,025,266 | ||||||
Olo, Inc. Class A (a) | 24,744 | 652,994 | ||||||
7,733,795 | ||||||||
17,895,680 | ||||||||
Utilities — 4.6% | ||||||||
Electric — 2.6% | ||||||||
Avista Corp. | 44,544 | 2,126,976 | ||||||
Evoqua Water Technologies Corp. (a) | 62,701 | 1,649,036 | ||||||
3,776,012 | ||||||||
Gas — 2.0% | ||||||||
National Fuel Gas Co. | 38,611 | 1,930,164 | ||||||
Northwest Natural Holding Co. | 17,230 | 929,559 | ||||||
2,859,723 | ||||||||
6,635,735 | ||||||||
TOTAL COMMON STOCK (Cost $93,484,604) | 142,871,764 | |||||||
TOTAL EQUITIES (Cost $93,484,604) | 142,871,764 | |||||||
Mutual Funds — 0.2% | ||||||||
Diversified Financial Services — 0.2% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d) | 214,577 | 214,577 | ||||||
TOTAL MUTUAL FUNDS (Cost $214,577) | 214,577 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $93,699,181) | 143,086,341 | |||||||
Principal Amount | ||||||||
Short-Term Investments — 0.6% | ||||||||
Repurchase Agreement — 0.6% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (e) | $ | 847,426 | 847,426 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $847,426) | 847,426 | |||||||
TOTAL INVESTMENTS — 100.4% (Cost $94,546,607) (f) | 143,933,767 | |||||||
Other Assets/(Liabilities) — (0.4)% | (529,957 | ) | ||||||
NET ASSETS — 100.0% | $ | 143,403,810 |
Abbreviation Legend
ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $3,300,955 or 2.30% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $3,159,396 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(c) | Security is a Master Limited Partnership. |
(d) | Represents investment of security lending cash collateral. (Note 2). |
(e) | Maturity value of $847,426. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $864,441. |
(f) | See Note 3 for aggregate cost for federal tax purposes. |
MML Special Situations Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 100.0% | ||||||||
Common Stock — 100.0% | ||||||||
Basic Materials — 8.0% | ||||||||
Chemicals — 7.2% | ||||||||
Dow, Inc. | 41,295 | $ | 2,640,401 | |||||
Ingevity Corp. (a) | 2,250 | 169,943 | ||||||
2,810,344 | ||||||||
Mining — 0.8% | ||||||||
Alcoa Corp. (a) | 10,338 | 335,882 | ||||||
3,146,226 | ||||||||
Communications — 26.9% | ||||||||
Internet — 25.8% | ||||||||
Airbnb, Inc. Class A (a) | 4,080 | 766,795 | ||||||
Bumble, Inc. (a) | 2,817 | 175,724 | ||||||
Chewy, Inc. Class A (a) (b) | 4,219 | 357,392 | ||||||
DoorDash, Inc., Class A (a) | 1,907 | 250,065 | ||||||
Lyft, Inc. Class A (a) | 14,185 | 896,208 | ||||||
Pinterest, Inc. Class A (a) | 29,501 | 2,183,959 | ||||||
Snap, Inc. Class A (a) | 51,379 | 2,686,608 | ||||||
Uber Technologies, Inc. (a) | 51,313 | 2,797,072 | ||||||
10,113,823 | ||||||||
Media — 1.1% | ||||||||
Altice USA, Inc. Class A (a) | 13,517 | 439,708 | ||||||
10,553,531 | ||||||||
Consumer, Cyclical — 7.2% | ||||||||
Apparel — 0.3% | ||||||||
Kontoor Brands, Inc. | 2,611 | 126,712 | ||||||
Auto Parts & Equipment — 0.9% | ||||||||
Adient PLC (a) | 5,220 | 230,724 | ||||||
Veoneer, Inc. (a) (b) | 5,205 | 127,418 | ||||||
358,142 | ||||||||
Distribution & Wholesale — 1.6% | ||||||||
IAA, Inc. (a) | 7,450 | 410,793 | ||||||
Resideo Technologies, Inc. (a) | 7,945 | 224,446 | ||||||
635,239 | ||||||||
Entertainment — 2.8% | ||||||||
Madison Square Garden Entertainment Corp. (a) | 980 | 80,164 | ||||||
Penn National Gaming, Inc. (a) | 8,234 | 863,253 | ||||||
Warner Music Group Corp. Class A | 4,936 | 169,453 | ||||||
1,112,870 | ||||||||
Lodging — 1.4% | ||||||||
Hilton Grand Vacations, Inc. (a) | 4,731 | 177,365 | ||||||
Wyndham Hotels & Resorts, Inc. | 5,157 | 359,856 | ||||||
537,221 | ||||||||
Retail — 0.2% | ||||||||
Petco Health & Wellness Co., Inc. (a) | 2,765 | 61,272 | ||||||
2,831,456 | ||||||||
Consumer, Non-cyclical — 14.9% | ||||||||
Biotechnology — 5.8% | ||||||||
Corteva, Inc. | 41,227 | 1,922,003 | ||||||
Maravai LifeSciences Holdings, Inc. (a) | 3,541 | 126,201 | ||||||
Royalty Pharma PLC Class A (b) | 4,740 | 206,759 | ||||||
2,254,963 | ||||||||
Commercial Services — 0.4% | ||||||||
Affirm Holdings, Inc. (a) | 1,801 | 127,366 | ||||||
Driven Brands Holdings, Inc. (a) | 1,766 | 44,892 | ||||||
172,258 | ||||||||
Food — 2.8% | ||||||||
Lamb Weston Holdings, Inc. | 8,106 | 628,053 | ||||||
US Foods Holding Corp. (a) | 12,245 | 466,779 | ||||||
1,094,832 | ||||||||
Health Care – Products — 2.2% | ||||||||
Avantor, Inc. (a) | 28,630 | 828,266 | ||||||
Varex Imaging Corp. (a) | 2,176 | 44,586 | ||||||
872,852 | ||||||||
Health Care – Services — 1.1% | ||||||||
Ortho Clinical Diagnostics Holdings PLC Class H (a) | 4,416 | 85,207 | ||||||
PPD, Inc. (a) | 6,028 | 228,100 | ||||||
Sotera Health Co. (a) | 3,995 | 99,715 | ||||||
413,022 | ||||||||
Household Products & Wares — 0.2% | ||||||||
Reynolds Consumer Products, Inc. | 3,026 | 90,114 | ||||||
Pharmaceuticals — 2.4% | ||||||||
Covetrus, Inc. (a) | 5,520 | 165,434 | ||||||
Elanco Animal Health, Inc. (a) | 26,152 | 770,177 | ||||||
935,611 | ||||||||
5,833,652 |
MML Special Situations Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Energy — 1.9% | ||||||||
Energy – Alternate Sources — 0.8% | ||||||||
Array Technologies, Inc. (a) | 6,049 | $ | 180,381 | |||||
Shoals Technologies Group, Inc. Class A (a) | 4,413 | 153,484 | ||||||
333,865 | ||||||||
Oil & Gas Services — 0.6% | ||||||||
ChampionX Corp. (a) | 10,348 | 224,862 | ||||||
Pipelines — 0.5% | ||||||||
Equitrans Midstream Corp. | 22,641 | 184,751 | ||||||
743,478 | ||||||||
Financial — 11.8% | ||||||||
Diversified Financial Services — 1.5% | ||||||||
Rocket Cos., Inc. Class A (b) | 6,404 | 147,868 | ||||||
Tradeweb Markets, Inc. Class A | 5,630 | 416,620 | ||||||
564,488 | ||||||||
Insurance — 3.3% | ||||||||
Athene Holding Ltd. Class A (a) | 6,892 | 347,357 | ||||||
Brighthouse Financial, Inc. (a) | 4,850 | 214,612 | ||||||
Equitable Holdings, Inc. | 21,711 | 708,213 | ||||||
1,270,182 | ||||||||
Real Estate — 0.2% | ||||||||
Newmark Group, Inc. Class A | 8,997 | 90,015 | ||||||
Real Estate Investment Trusts (REITS) — 6.8% | ||||||||
Apartment Income REIT Corp. | 8,240 | 352,342 | ||||||
Invitation Homes, Inc. | 31,417 | 1,005,030 | ||||||
JBG SMITH Properties | 6,136 | 195,064 | ||||||
Park Hotels & Resorts, Inc. | 13,121 | 283,151 | ||||||
VICI Properties, Inc. (b) | 29,724 | 839,406 | ||||||
2,674,993 | ||||||||
4,599,678 | ||||||||
Industrial — 15.4% | ||||||||
Building Materials — 5.6% | ||||||||
The AZEK Co., Inc (a) | 6,957 | 292,542 | ||||||
Carrier Global Corp. | 45,270 | 1,911,299 | ||||||
2,203,841 | ||||||||
Electronics — 4.8% | ||||||||
Fortive Corp. | 18,730 | 1,323,087 | ||||||
nVent Electric PLC | 9,335 | 260,540 | ||||||
Vontier Corp. (a) | 9,356 | 283,206 | ||||||
1,866,833 | ||||||||
Engineering & Construction — 1.1% | ||||||||
Arcosa, Inc. | 2,674 | 174,051 | ||||||
frontdoor, Inc. (a) | 4,747 | 255,151 | ||||||
429,202 | ||||||||
Machinery – Diversified — 3.9% | ||||||||
Otis Worldwide Corp. | 22,584 | 1,545,875 | ||||||
6,045,751 | ||||||||
Technology — 13.9% | ||||||||
Computers — 0.6% | ||||||||
Perspecta, Inc. | 7,600 | 220,780 | ||||||
Software — 13.3% | ||||||||
Avaya Holdings Corp. (a) | 4,191 | 117,474 | ||||||
C3.ai, Inc. (a) (b) | 919 | 60,571 | ||||||
Concentrix Corp. (a) | 2,308 | 345,554 | ||||||
Dropbox, Inc. Class A (a) | 16,407 | 437,410 | ||||||
Oscar Health, Inc. (a) | 2,052 | 55,158 | ||||||
Playtika Holding Corp. (a) | 3,865 | 105,167 | ||||||
Qualtrics International Inc (a) | 3,125 | 102,844 | ||||||
ROBLOX Corp. (a) | 2,190 | 141,978 | ||||||
Snowflake, Inc. Class A (a) | 3,292 | 754,790 | ||||||
Zoom Video Communications, Inc. Class A (a) | 8,808 | 2,829,922 | ||||||
ZoomInfo Technologies, Inc. Class A (a) (b) | 5,186 | 253,595 | ||||||
5,204,463 | ||||||||
5,425,243 | ||||||||
TOTAL COMMON STOCK (Cost $32,697,116) | 39,179,015 | |||||||
TOTAL EQUITIES (Cost $32,697,116) | 39,179,015 | |||||||
Mutual Funds — 1.4% | ||||||||
Diversified Financial Services — 1.4% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c) | 551,154 | 551,154 | ||||||
TOTAL MUTUAL FUNDS (Cost $551,154) | 551,154 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $33,248,270) | 39,730,169 | |||||||
TOTAL INVESTMENTS — 101.4% (Cost $33,248,270) (d) | 39,730,169 | |||||||
Other Assets/(Liabilities) — (1.4)% | (551,114 | ) | ||||||
NET ASSETS — 100.0% | $ | 39,179,055 |
MML Special Situations Fund — Portfolio of Investments (Continued) |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $1,725,929 or 4.41% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $1,210,795 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(c) | Represents investment of security lending cash collateral. (Note 2). |
(d) | See Note 3 for aggregate cost for federal tax purposes. |
MML Strategic Emerging Markets Fund — Portfolio of Investments |
March 31, 2021 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 98.4% | ||||||||
Common Stock — 94.7% | ||||||||
Bermuda — 1.1% | ||||||||
Credicorp Ltd. | 4,845 | $ | 661,681 | |||||
Jardine Strategic Holdings Ltd. (a) | 15,289 | 505,937 | ||||||
1,167,618 | ||||||||
Brazil — 3.6% | ||||||||
Ambev SA | 179,913 | 488,727 | ||||||
B3 SA - Brasil Bolsa Balcao | 90,953 | 882,601 | ||||||
Vale SA Sponsored ADR | 144,298 | 2,507,899 | ||||||
3,879,227 | ||||||||
Cayman Islands — 26.8% | ||||||||
Alibaba Group Holding Ltd. (b) | 1,000 | 28,298 | ||||||
Alibaba Group Holding Ltd. Sponsored ADR (b) | 13,395 | 3,037,048 | ||||||
Baidu, Inc. Sponsored ADR (b) | 1,308 | 284,555 | ||||||
BeiGene Ltd. (b) | 3,507 | 1,220,716 | ||||||
Blue Moon Group Holdings Ltd. (b) (c) | 121,432 | 174,637 | ||||||
Budweiser Brewing Co. APAC Ltd. (c) | 224,000 | 669,472 | ||||||
Hansoh Pharmaceutical Group Co. Ltd. (b) (c) | 40,000 | 191,892 | ||||||
Huazhu Group Ltd. ADR (a) (b) | 69,494 | 3,815,221 | ||||||
Innovent Biologics, Inc. (b) (c) | 47,000 | 479,810 | ||||||
JD.com, Inc. ADR (b) | 10,403 | 877,285 | ||||||
Kuaishou Technology (b) (c) | 30,500 | 1,059,287 | ||||||
Meituan Class B (b) (c) | 41,700 | 1,606,462 | ||||||
NetEase, Inc. ADR | 11,680 | 1,206,077 | ||||||
New Horizon Health Ltd. (b) (c) | 24,000 | 179,365 | ||||||
New Oriental Education & Technology Group, Inc. Sponsored ADR (b) | 75,554 | 1,057,756 | ||||||
OneConnect Financial Technology Co. Ltd. (b) | 36,016 | 532,316 | ||||||
Pagseguro Digital Ltd. Class A (b) | 8,040 | 372,252 | ||||||
Pinduoduo, Inc. ADR (b) | 7,622 | 1,020,433 | ||||||
TAL Education Group Sponsored ADR (b) | 3,231 | 173,989 | ||||||
Tencent Holdings Ltd. | 90,509 | 7,135,456 | ||||||
Tencent Music Entertainment Group ADR (b) | 10,508 | 215,309 | ||||||
Wuxi Biologics Cayman, Inc. (b) (c) | 117,500 | 1,482,147 | ||||||
ZTO Express Cayman, Inc. (b) | 4,937 | 140,348 | ||||||
ZTO Express Cayman, Inc. ADR | 73,787 | 2,150,891 | ||||||
29,111,022 | ||||||||
Chile — 0.9% | ||||||||
Falabella SA | 210,511 | 956,078 | ||||||
China — 4.0% | ||||||||
Contemporary Amperex Technology Co. Ltd. Class A | 2,300 | 113,668 | ||||||
Gree Electric Appliances, Inc. of Zhuhai Class A | 45,100 | 431,573 | ||||||
Jiangsu Hengrui Medicine Co. Ltd. Class A | 87,987 | 1,239,174 | ||||||
Ping An Insurance Group Co. of China Ltd. Class A | 197,462 | 2,375,137 | ||||||
Remegen Co. Ltd. (b) (c) | 11,159 | 139,300 | ||||||
4,298,852 | ||||||||
Colombia — 0.3% | ||||||||
Grupo Aval Acciones y Valores SA (a) | 61,175 | 380,509 | ||||||
Egypt — 0.6% | ||||||||
Commercial International Bank Egypt SAE | 179,534 | 662,508 | ||||||
France — 5.0% | ||||||||
Kering SA | 6,090 | 4,204,912 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 72 | 47,980 | ||||||
Pernod Ricard SA | 6,366 | 1,195,036 | ||||||
5,447,928 | ||||||||
Hong Kong — 3.7% | ||||||||
AIA Group Ltd. | 333,400 | 4,055,978 | ||||||
India — 14.1% | ||||||||
Godrej Properties Ltd. (b) | 14,057 | 270,597 | ||||||
Havells India Ltd. | 7,132 | 102,994 | ||||||
HDFC Bank Ltd. (b) | 28,894 | 588,315 | ||||||
Housing Development Finance Corp. Ltd. | 153,663 | 5,282,149 | ||||||
Infosys Ltd. | 75,383 | 1,413,221 | ||||||
Kotak Mahindra Bank Ltd. (b) | 146,881 | 3,536,583 | ||||||
Oberoi Realty Ltd. (b) | 56,994 | 453,212 | ||||||
Tata Consultancy Services Ltd. | 64,358 | 2,798,971 | ||||||
Zee Entertainment Enterprises Ltd. | 315,798 | 877,105 | ||||||
15,323,147 | ||||||||
Indonesia — 1.0% | ||||||||
Bank Central Asia Tbk PT | 339,100 | 726,766 | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 179,100 | 54,350 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 233,997 | 197,575 | ||||||
Semen Indonesia Persero Tbk PT | 205,600 | 147,950 | ||||||
1,126,641 | ||||||||
Italy — 1.5% | ||||||||
Moncler SpA (b) | 2,960 | 170,033 | ||||||
PRADA SpA (b) | 235,000 | 1,469,347 | ||||||
1,639,380 | ||||||||
Luxembourg — 0.2% | ||||||||
InPost SA (b) | 12,339 | 202,085 | ||||||
Mexico — 5.8% | ||||||||
Alsea SAB de CV (b) | 162,774 | 240,663 | ||||||
Fomento Economico Mexicano SAB de CV | 210,318 | 1,584,626 | ||||||
Fomento Economico Mexicano SAB de CV Sponsored ADR | 4,791 | 360,906 | ||||||
Grupo Aeroportuario del Sureste SAB de CV Class B (b) | 27,159 | 482,337 | ||||||
Grupo Mexico SAB de CV Series B | 502,867 | 2,650,696 | ||||||
Wal-Mart de Mexico SAB de CV | 328,444 | 1,037,259 | ||||||
6,356,487 |
MML Strategic Emerging Markets Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Netherlands — 2.9% | ||||||||
Yandex NV Class A (b) | 49,301 | $ | 3,158,222 | |||||
Philippines — 2.2% | ||||||||
Ayala Land, Inc. | 1,052,300 | 744,683 | ||||||
SM Investments Corp. | 61,830 | 1,223,859 | ||||||
SM Prime Holdings, Inc. | 545,012 | 393,150 | ||||||
2,361,692 | ||||||||
Republic of Korea — 2.0% | ||||||||
Samsung Biologics Co. Ltd. (b) (c) | 2,350 | 1,557,921 | ||||||
Samsung Electronics Co. Ltd. | 9,035 | 652,608 | ||||||
2,210,529 | ||||||||
Russia — 4.8% | ||||||||
Novatek PJSC Sponsored GDR Registered (c) | 104 | 20,540 | ||||||
Novatek PJSC Sponsored GDR Registered (c) | 21,085 | 4,166,336 | ||||||
Polyus PJSC (b) | 2,934 | 540,856 | ||||||
Polyus PJSC GDR (c) (d) | 2,690 | 247,615 | ||||||
Polyus PJSC GDR (c) (d) | 194 | 17,858 | ||||||
Sberbank of Russia PJSC | 58,631 | 225,553 | ||||||
5,218,758 | ||||||||
South Africa — 0.6% | ||||||||
FirstRand Ltd. (a) | 184,563 | 645,019 | ||||||
Switzerland — 1.8% | ||||||||
Cie Financiere Richemont SA Registered | 20,047 | 1,925,029 | ||||||
Taiwan — 7.8% | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 405,000 | 8,421,333 | ||||||
Turkey — 0.3% | ||||||||
Akbank TAS | 524,278 | 297,362 | ||||||
United Kingdom — 0.4% | ||||||||
Prudential PLC | 19,913 | 422,146 | ||||||
United States — 3.3% | ||||||||
Yum China Holdings, Inc. | 59,922 | 3,547,982 | ||||||
TOTAL COMMON STOCK (Cost $79,752,454) | 102,815,532 | |||||||
Preferred Stock — 3.7% | ||||||||
Brazil — 1.7% | ||||||||
Banco Bradesco SA 3.340% | 129,100 | 614,003 | ||||||
Lojas Americanas SA 0.640% | 304,422 | 1,209,327 | ||||||
1,823,330 | ||||||||
India — 0.0% | ||||||||
Zee Entertainment Enterprises Ltd. 6.000% | 503,840 | 13,093 | ||||||
Singapore — 2.0% | ||||||||
Grab Holdings, Inc. (Acquired 6/18/19, Cost $2,160,355) (b) (d) (e) (f) | 350,542 | 2,160,355 | ||||||
TOTAL PREFERRED STOCK (Cost $4,377,540) | 3,996,778 | |||||||
TOTAL EQUITIES (Cost $84,129,994) | 106,812,310 | |||||||
Mutual Funds — 0.3% | ||||||||
United States — 0.3% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g) | 383,585 | 383,585 | ||||||
TOTAL MUTUAL FUNDS (Cost $383,585) | 383,585 | |||||||
Warrants — 0.0% | ||||||||
Switzerland — 0.0% | ||||||||
Cie Financiere Richemont SA, Expires 11/22/23, Strike 67.00 (b) | 48,648 | 18,529 | ||||||
TOTAL WARRANTS (Cost $0) | 18,529 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $84,513,579) | 107,214,424 |
MML Strategic Emerging Markets Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 0.3% | ||||||||
Repurchase Agreement — 0.3% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 3/31/21, 0.000%, due 4/01/21 (h) | $ | 302,018 | $ | 302,018 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $302,018) | 302,018 | |||||||
TOTAL INVESTMENTS — 99.0% (Cost $84,815,597) (i) | 107,516,442 | |||||||
Other Assets/(Liabilities) — 1.0% | 1,089,371 | |||||||
NET ASSETS — 100.0% | $ | 108,605,813 |
Abbreviation Legend
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2021, was $4,236,463 or 3.90% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $3,984,298 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(b) | Non-income producing security. |
(c) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At March 31, 2021, the aggregate market value of these securities amounted to $11,992,642 or 11.04% of net assets. |
(d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At March 31, 2021, these securities amounted to a value of $2,425,828 or 2.23% of net assets. |
(e) | Investment was valued using significant unobservable inputs. |
(f) | Restricted security. Certain securities are restricted as to resale. At March 31, 2021, these securities amounted to a value of $2,160,355 or 1.99% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
(g) | Represents investment of security lending cash collateral. (Note 2). |
(h) | Maturity value of $302,018. Collateralized by U.S. Government Agency obligations with a rate of 1.750%, maturity date of 12/31/24, and an aggregate market value, including accrued interest, of $308,070. |
(i) | See Note 3 for aggregate cost for federal tax purposes. |
Notes to Portfolio of Investments (Unaudited) |
1. | The Funds |
MML Series Investment Fund II (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated February 8, 2005, which was amended and restated as of February 28, 2005 and December 15, 2011, as it may be further amended from time to time. The Trust consists of the following series (each individually referred to as a “Fund” or collectively as the “Funds”):
MML Blend Fund (“Blend Fund”)
MML Dynamic Bond Fund ("Dynamic Bond Fund")
MML Equity Fund (“Equity Fund”)
MML Equity Momentum Fund ("Equity Momentum Fund")
MML Equity Rotation Fund ("Equity Rotation Fund")
MML High Yield Fund ("High Yield Fund")
MML Inflation-Protected and Income Fund (“Inflation-Protected and Income Fund”)
MML Managed Bond Fund (“Managed Bond Fund”)
MML Short-Duration Bond Fund ("Short-Duration Bond Fund")
MML Small Cap Equity Fund ("Small Cap Equity Fund")
MML Special Situations Fund ("Special Situations Fund")
MML Strategic Emerging Markets Fund (“Strategic Emerging Markets Fund”)
The Trust makes shares of the Funds available for the investment of assets of various separate investment accounts established by Massachusetts Mutual Life Insurance Company (“MassMutual”) and by life insurance companies which are subsidiaries of MassMutual. Shares of the Trust are not offered to the general public. MassMutual, MML Bay State Life Insurance Company, C.M. Life Insurance Company, and the MML Allocation Funds, which are “funds of funds” series of MML Series Investment Fund, another open-end management investment company sponsored by MassMutual, are the record owners of all of the outstanding shares of the Funds.
2. | Significant Accounting Policies |
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies.
Investment Valuation
The net asset value of each Fund’s shares is determined once daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), on each day the NYSE is open for trading (a “business day”). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes and will instead fair value securities in accordance with procedures approved annually by the Board of Trustees ("Trustees"), and under the general oversight of the Trustees. On holidays and other days when the NYSE is closed, each Fund’s net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund’s assets may still be affected on such days to the extent that a Fund holds foreign securities that trade on days that foreign securities markets are open.
Notes to Portfolio of Investments (Unaudited) (Continued)
Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System (“NASDAQ System”), or in the case of over-the-counter (“OTC”) securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.
Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral.
Investments for which market quotations are not available or for which a pricing service or vendor does not provide a value, or for which such market quotations or values are considered by the investment adviser or subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event) are stated at fair valuations determined in good faith by the Funds' Valuation Committee1 in accordance with procedures approved annually by the Trustees, and under the general oversight of the Trustees. The Funds' Valuation Committee employs various methods to determine fair valuations including a regular review of significant inputs and assumptions and review of any related market activity. The Funds' Valuation Committee reports to the Trustees at its regularly scheduled meetings. It is possible that fair value prices will be used by the Funds to a significant extent. The value determined for an investment using the Funds' fair value procedures may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.
The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.
1 | The voting members of the Valuation Committee consist of the President, Treasurer, Assistant Treasurers, Vice Presidents (except for the CCO, Secretary, and Assistant Secretaries) of the Trust, as well as such other members as the Trustees may from time to time designate. The non-voting members of the Valuation Committee consist of the CCO, Secretary, and Assistant Secretaries. The Valuation Committee reviews and determines the fair valuation of portfolio securities and the Funds’ pricing procedures in general. |
Notes to Portfolio of Investments (Unaudited) (Continued)
For investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and any other investments fair valued using significant unobservable inputs, as described below, the fair valuation approaches used by third party service providers and/or the Funds’ subadvisers utilize one or a combination of, but not limited to, the following inputs:
Market approach: (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers.
Income approach: (i) future cash flows discounted to present value and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts, and/or default rates.
Cost approach: (i) audited or unaudited financial statements, investor communications, and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company's interests and merger or acquisition activity in companies comparable to the Private Company.
Investments in series of preferred stock issued by Private Companies are typically valued utilizing Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as the current value method (“CVM”), an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”), or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The CVM allocates value among the various parts of a company’s capital structure assuming that the value of convertible preferred stock is represented by the most favorable claim the preferred stockholders have on the enterprise value as of the valuation date. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.
The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by a Fund. Typically, the most recently available information for a Private Company is as of a date that is earlier than the date a Fund is calculating its net asset value. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.
Notes to Portfolio of Investments (Unaudited) (Continued)
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
Level 1 – quoted prices (unadjusted) in active markets for identical investments that the Funds can access at the measurement date
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.
In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.
The Blend Fund, Equity Momentum Fund, Equity Rotation Fund, Small Cap Equity Fund, and Special Situations Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of March 31, 2021. For each Fund noted in the preceding sentence, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.
Notes to Portfolio of Investments (Unaudited) (Continued)
The following is the aggregate value by input level, as of March 31, 2021, for the remaining Funds' investments:
Dynamic Bond Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Bank Loans (less Unfunded Loan Commitments) | $ | — | $ | 11,868,591 | $ | — | $ | 11,868,591 | ||||||||
Corporate Debt | — | 76,371,983 | — | 76,371,983 | ||||||||||||
Municipal Obligations | — | 460,152 | — | 460,152 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 84,810,108 | — | 84,810,108 | ||||||||||||
Sovereign Debt Obligations | — | 7,413,026 | — | 7,413,026 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 46,833,043 | — | 46,833,043 | ||||||||||||
U.S. Treasury Obligations | — | 72,481,482 | — | 72,481,482 | ||||||||||||
Short-Term Investments | — | 9,362,923 | — | 9,362,923 | ||||||||||||
Unfunded Loan Commitments** | — | 217 | — | 217 | ||||||||||||
Total Investments | $ | — | $ | 309,601,525 | $ | — | $ | 309,601,525 |
Notes to Portfolio of Investments (Unaudited) (Continued)
Equity Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 856,789,518 | $ | 839,557 | * | $ | — | $ | 857,629,075 | |||||||
Preferred Stock | 1,145,447 | — | — | 1,145,447 | ||||||||||||
Mutual Funds | 8,207,886 | — | — | 8,207,886 | ||||||||||||
Short-Term Investments | 318,297 | 2,106,874 | — | 2,425,171 | ||||||||||||
Total Investments | $ | 866,461,148 | $ | 2,946,431 | $ | — | $ | 869,407,579 |
Notes to Portfolio of Investments (Unaudited) (Continued)
High Yield Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 861,553 | $ | — | + | $ | 155,869 | $ | 1,017,422 | |||||||
Bank Loans | — | 12,304,493 | — | 12,304,493 | ||||||||||||
Corporate Debt | — | 79,755,874 | — | 79,755,874 | ||||||||||||
Short-Term Investments | — | 2,711,288 | — | 2,711,288 | ||||||||||||
Total Investments | $ | 861,553 | $ | 94,771,655 | $ | 155,869 | $ | 95,789,077 |
Notes to Portfolio of Investments (Unaudited) (Continued)
Inflation-Protected and Income Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Debt | $ | — | $ | 1,502,631 | $ | — | $ | 1,502,631 | ||||||||
Municipal Obligations | — | 10,655 | — | 10,655 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 181,723,635 | — | 181,723,635 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 30,575,971 | — | 30,575,971 | ||||||||||||
U.S. Treasury Obligations | — | 74,627,753 | — | 74,627,753 | ||||||||||||
Purchased Options | — | 1,816,671 | — | 1,816,671 | ||||||||||||
Short-Term Investments | — | 48,346,832 | — | 48,346,832 | ||||||||||||
Total Investments | $ | — | $ | 338,604,148 | $ | — | $ | 338,604,148 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 111,794 | $ | — | $ | — | $ | 111,794 | ||||||||
Swap Agreements | — | 620,488 | — | 620,488 | ||||||||||||
Total | $ | 111,794 | $ | 620,488 | $ | — | $ | 732,282 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (206,142 | ) | $ | — | $ | — | $ | (206,142 | ) | ||||||
Swap Agreements | — | (2,002,261 | ) | — | (2,002,261 | ) | ||||||||||
Total | $ | (206,142 | ) | $ | (2,002,261 | ) | $ | — | $ | (2,208,403 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued)
Managed Bond Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Debt | $ | — | $ | 375,316,081 | $ | — | $ | 375,316,081 | ||||||||
Municipal Obligations | — | 2,353,962 | — | 2,353,962 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 324,061,007 | — | 324,061,007 | ||||||||||||
Sovereign Debt Obligations | — | 8,222,502 | — | 8,222,502 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 209,764,886 | — | 209,764,886 | ||||||||||||
U.S. Treasury Obligations | — | 49,208,450 | — | 49,208,450 | ||||||||||||
Purchased Options | — | 3,002,961 | — | 3,002,961 | ||||||||||||
Short-Term Investments | — | 135,416,534 | — | 135,416,534 | ||||||||||||
Total Investments | $ | — | $ | 1,107,346,383 | $ | — | $ | 1,107,346,383 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 351,925 | $ | — | $ | — | $ | 351,925 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (3,370,381 | ) | $ | — | $ | — | $ | (3,370,381 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued)
Short-Duration Bond Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Debt | $ | — | $ | 88,097,777 | $ | — | $ | 88,097,777 | ||||||||
Municipal Obligations | — | 402,526 | — | 402,526 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 90,133,189 | — | 90,133,189 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 3,360,250 | — | 3,360,250 | ||||||||||||
U.S. Treasury Obligations | — | 1,280,118 | — | 1,280,118 | ||||||||||||
Purchased Options | — | 138,323 | — | 138,323 | ||||||||||||
Short-Term Investments | — | 3,799,132 | — | 3,799,132 | ||||||||||||
Total Investments | $ | — | $ | 187,211,315 | $ | — | $ | 187,211,315 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 1,157,546 | $ | — | $ | — | $ | 1,157,546 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (602,018 | ) | $ | — | $ | — | $ | (602,018 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued)
Strategic Emerging Markets Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock* | ||||||||||||||||
Bermuda | $ | 661,681 | $ | 505,937 | $ | — | $ | 1,167,618 | ||||||||
Brazil | 3,879,227 | — | — | 3,879,227 | ||||||||||||
Cayman Islands | 17,202,500 | 11,908,522 | — | 29,111,022 | ||||||||||||
Chile | 956,078 | — | — | 956,078 | ||||||||||||
China | — | 4,298,852 | — | 4,298,852 | ||||||||||||
Colombia | 380,509 | — | — | 380,509 | ||||||||||||
Egypt | — | 662,508 | — | 662,508 | ||||||||||||
France | — | 5,447,928 | — | 5,447,928 | ||||||||||||
Hong Kong | — | 4,055,978 | — | 4,055,978 | ||||||||||||
India | — | 15,323,147 | — | 15,323,147 | ||||||||||||
Indonesia | — | 1,126,641 | — | 1,126,641 | ||||||||||||
Italy | — | 1,639,380 | — | 1,639,380 | ||||||||||||
Luxembourg | — | 202,085 | — | 202,085 | ||||||||||||
Mexico | 6,356,487 | — | — | 6,356,487 | ||||||||||||
Netherlands | 3,158,222 | — | — | 3,158,222 | ||||||||||||
Philippines | — | 2,361,692 | — | 2,361,692 | ||||||||||||
Republic of Korea | — | 2,210,529 | — | 2,210,529 | ||||||||||||
Russia | 20,540 | 5,198,218 | — | 5,218,758 | ||||||||||||
South Africa | — | 645,019 | — | 645,019 | ||||||||||||
Switzerland | — | 1,925,029 | — | 1,925,029 | ||||||||||||
Taiwan | — | 8,421,333 | — | 8,421,333 | ||||||||||||
Turkey | — | 297,362 | — | 297,362 | ||||||||||||
United Kingdom | — | 422,146 | — | 422,146 | ||||||||||||
United States | 3,547,982 | — | — | 3,547,982 | ||||||||||||
Preferred Stock | ||||||||||||||||
Brazil | 1,823,330 | — | — | 1,823,330 | ||||||||||||
India | 13,093 | — | — | 13,093 | ||||||||||||
Singapore | — | — | 2,160,355 | 2,160,355 | ||||||||||||
Mutual Funds | 383,585 | — | — | 383,585 | ||||||||||||
Warrants | 18,529 | — | — | 18,529 | ||||||||||||
Short-Term Investments | — | 302,018 | — | 302,018 | ||||||||||||
Total Investments | $ | 38,401,763 | $ | 66,954,324 | $ | 2,160,355 | $ | 107,516,442 |
* | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments after the close of trading in their respective foreign markets, as applicable. |
** | Unfunded loan commitments are valued at the unrealized appreciation (depreciation) on the commitment. |
+ | Represents a security at $0 value as of March 31, 2021. |
Notes to Portfolio of Investments (Unaudited) (Continued)
Derivative Instruments
Derivatives are financial instruments whose values are based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. Losses from derivatives can be substantially greater than the derivatives' original cost and can sometimes be unlimited. A Fund may not be able to close out a derivative transaction at a favorable time or price.
Please refer to the Funds' most recent Annual/Semiannual reports and prospectus(es) and Statement(s) of Additional Information which can be found on the Securities and Exchange Commission's (“SEC”) EDGAR database on its website at http://www.sec.gov for more information regarding the derivatives and other investments held by the Fund(s).
Securities Lending
Each Fund may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds’ securities lending activities are governed by a Securities Lending Agency Agreement (“Lending Agreement”) between each Fund and the lending agent (“Agent”). The Lending Agreement authorizes the Agent to lend portfolio securities held by a Fund to approved borrowers (each, a “Borrower”).
Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash (U.S. currency) and/or securities (U.S. Treasury and Agency obligations) adjusted daily to have value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the Borrower of the securities fail financially. Pursuant to the Lending Agreement, the Agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At March 31, 2021, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan.
Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower (“Borrowing Agreement”), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.
Accounting for Investment Transactions
Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain. The Funds determine the classification of distributions received as return of capital distributions or capital gain distributions.
Notes to Portfolio of Investments (Unaudited) (Continued)
Foreign Currency Translation
The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.
Foreign Securities
The Strategic Emerging Markets Fund invests substantially all of its assets in foreign securities. The other Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.
Federal Income Tax
It is each Fund's intent to continue to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for federal income tax.
Dividends and Distributions to Shareholders
Dividends from net investment income and distributions of any net realized capital gains of each Fund are declared and paid annually and at other times as may be required to satisfy tax or regulatory requirements
Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. As a result, net investment income and net realized capital gains on investment transactions for a reporting period may differ significantly from distributions during such period.
3. | Federal Income Tax Information |
At March 31, 2021, the aggregate cost of investments and the unrealized appreciation (depreciation) in the value of all investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:
Notes to Portfolio of Investments (Unaudited) (Continued)
Federal Income Tax Cost | Tax Basis Unrealized Appreciation | Tax Basis Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | |||||||||||||
Blend Fund | $ | 783,302,122 | $ | 48,882,376 | $ | (9,064,759 | ) | $ | 39,817,617 | |||||||
Dynamic Bond Fund | 311,137,434 | 8,747,882 | (10,283,791 | ) | (1,535,909 | ) | ||||||||||
Equity Fund | 633,632,905 | 236,852,961 | (1,078,287 | ) | 235,774,674 | |||||||||||
Equity Momentum Fund | 38,763,600 | 2,019,201 | (444,746 | ) | 1,574,455 | |||||||||||
Equity Rotation Fund | 42,217,981 | 4,644,021 | (1,183,264 | ) | 3,460,757 | |||||||||||
High Yield Fund | 93,254,054 | 5,089,662 | (2,554,639 | ) | 2,535,023 | |||||||||||
Inflation-Protected and Income Fund | 337,234,321 | 3,072,546 | (1,702,719 | ) | 1,369,827 | |||||||||||
Managed Bond Fund | 1,089,890,065 | 30,002,047 | (12,545,729 | ) | 17,456,318 | |||||||||||
Short-Duration Bond Fund | 184,788,167 | 3,579,980 | (1,156,832 | ) | 2,423,148 | |||||||||||
Small Cap Equity Fund | 94,546,607 | 52,457,651 | (3,070,491 | ) | 49,387,160 | |||||||||||
Special Situations Fund | 33,248,270 | 7,537,212 | (1,055,313 | ) | 6,481,899 | |||||||||||
Strategic Emerging Markets Fund | 84,815,597 | 26,025,015 | (3,324,170 | ) | 22,700,845 |
Notes to Portfolio of Investments (Unaudited) (Continued)
4. | New Accounting Pronouncements |
In October 2020, Accounting Standards Update 2017-08, Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”) was amended by Accounting Standards Update 2020-08, Codification Improvements to Subtopic 310-20, Receivables — Nonrefundable Fees and Other Costs (“ASU 2020-08”). ASU 2020-08 requires entities to reevaluate whether callable debt securities fall within the scope of ASU 2017-08 at each reporting period. ASU 2020-08 also amends the relevant guidance to require premiums to be amortized to the “next call date” rather than the “earliest call date,” and further clarifies the definition of “next call date.” ASU 2020-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption of ASU 2020-08 is not permitted. Management is currently evaluating the impact, if any, of applying ASU 2020-08.
In March 2020, FASB issued Accounting Standards Update 2020-04 — Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional temporary financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the London Interbank Offered Rate (“LIBOR”) and other interbank-offered based reference rates as of the end of 2021. ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management does not believe the impact of adopting ASU 2020-04 will have a material impact on the financial statements.
5. | Legal Proceedings |
On December 7, 2010, the Trust was named as a defendant and putative member of the proposed defendant class of shareholders named in an adversary proceeding brought by The Official Committee of Unsecured Creditors of Tribune Company (the “Official Committee”) in the U.S. Bankruptcy Court for the District of Delaware, in connection with Tribune Company’s Chapter 11 bankruptcy proceeding (In re Tribune Company). The proceeding relates to a leveraged buyout (“LBO”) transaction by which Tribune Company converted to a privately-held company in 2007, and the putative defendant class is comprised of beneficial owners of shares of Tribune Company who received proceeds (the “Proceeds”) of the LBO. The Official Committee seeks to recover payments of those Proceeds. On April 5, 2012, the adversary proceeding was transferred to the Southern District of New York for consolidated pretrial proceedings. The action is now being prosecuted by the litigation trustee (“Trustee”) for the Tribune Litigation Trust.
The potential amounts sought to be recovered from the Blend Fund and Small Cap Equity Fund are approximately $207,400 and $93,500, respectively, plus interest and the Official Committee’s court costs.
In addition, on June 2, 2011, the Blend Fund was named as a defendant in a closely related, parallel adversary proceeding brought in connection with the Tribune Company’s LBO by Deutsche Bank Trust Company Americas, in its capacity as successor indenture trustee for a certain series of Senior Notes, Law Debenture Trust Company of New York, in its capacity as successor indenture trustee for a certain series of Senior Notes, and Wilmington Trust Company, in its capacity as successor indenture trustee for the PHONES Notes (together, the “Plaintiffs”), in the United States District Court for the District of Massachusetts. The Plaintiffs also seek to recover payments of the Proceeds. On December 20, 2011, this action was transferred to the Southern District of New York for consolidated pretrial proceedings.
The Funds cannot predict the outcome of these proceedings. Accordingly, the Funds have not accrued any amounts related to these proceedings. If the proceedings were to be decided in a manner adverse to the Funds, or if the Funds were to enter into a settlement agreement with the Trustee or the Plaintiffs, as applicable, the payment of such judgment or settlement could potentially have a material adverse effect on the Funds' net asset value depending on the net assets of each applicable Fund at the time of such judgment or settlement.
6. | Coronavirus (COVID-19) Pandemic |
The global pandemic outbreak of the novel coronavirus known as COVID-19 has produced, and will likely continue to produce, substantial market volatility, severe market dislocations and liquidity constraints in many markets, and global business disruption, and it may result in future significant adverse effects, such as exchange trading suspensions and closures, declines in global financial markets, higher default rates, and a substantial economic downturn or recession throughout the world. Such factors may have a significant adverse effect on a Fund’s performance and have the potential to impair the ability of a Fund’s investment adviser, subadviser, or other service providers to serve the Fund and could lead to disruptions that negatively impact the Fund.