| MassMutual Total Return Bond Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 114.4% | ||||||||
| BANK LOANS — 1.9% | ||||||||
| Aerospace & Defense — 0.0% | ||||||||
| TransDigm, Inc., 2023 Term Loan I, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.492% VRN 8/24/28 | $ | 190,023 | $ | 189,840 | ||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 4.750% | ||||||||
| 10.000% VRN 4/20/28 | 48,698 | 49,672 | ||||||
| United Airlines, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
| 9.292% VRN 4/21/28 | 42,032 | 41,950 | ||||||
| 91,622 | ||||||||
| Beverages — 0.0% | ||||||||
| City Brewing Co. LLC, Closing Date Term Loan, 1 mo. USD LIBOR | ||||||||
| 0.000% FRN 4/05/28 (a) | 27,547 | 17,768 | ||||||
| Naked Juice LLC | ||||||||
| Term Loan, 1 mo. USD Term SOFR + 3.250%, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.453% VRN 1/24/29 | 90,142 | 83,679 | ||||||
| 2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.000% | ||||||||
| 11.342% VRN 1/24/30 | 68,440 | 53,896 | ||||||
| 155,343 | ||||||||
| Chemicals — 0.0% | ||||||||
| Chemours Co., 2018 USD Term Loan B, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.952% VRN 4/03/25 | 12,888 | 12,765 | ||||||
| Zep, Inc., 2017 1st Lien Term Loan, 3 mo. USD LIBOR + 4.000% | ||||||||
| 9.242% VRN 8/12/24 | 257,988 | 218,257 | ||||||
| 231,022 | ||||||||
| Commercial Services — 0.1% | ||||||||
| Creative Artists Agency LLC, 2023 Term Loan B, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.602% VRN 11/27/28 | 29,715 | 29,618 | ||||||
| Element Materials Technology Group U.S. Holdings, Inc. | ||||||||
| 2022 USD Term Loan, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.485% VRN 7/06/29 | 48,230 | 47,145 | ||||||
| 2022 USD Delayed Draw Term Loan, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.489% VRN 7/06/29 | 22,260 | 21,759 | ||||||
| Pre-Paid Legal Services, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 3.750% | ||||||||
| 8.943% VRN 12/15/28 | 103,285 | 101,704 | ||||||
| Prime Security Services Borrower LLC, 2021 Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
| 7.943% VRN 9/23/26 | 110,543 | 110,442 | ||||||
| Safe Fleet Holdings LLC, 2022 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.932% VRN 2/23/29 | 30,683 | 30,620 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount |
Value | |||||||
| Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 4.000% | ||||||||
| 9.230% VRN 3/04/28 | $ | 229,792 | $ | 196,144 | ||||
| Trans Union LLC, 2021 Term Loan B6, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.467% VRN 12/01/28 | 223,401 | 222,679 | ||||||
| TruGreen Ltd. Partnership, 2020 Term Loan, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.202% VRN 11/02/27 | 56,901 | 52,235 | ||||||
| 812,346 | ||||||||
| Computers — 0.0% | ||||||||
| Amentum Government Services Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.217% VRN 1/29/27 | 68,808 | 67,604 | ||||||
| Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.952% VRN 2/01/28 | 221,157 | 216,853 | ||||||
| 284,457 | ||||||||
| Cosmetics & Personal Care — 0.0% | ||||||||
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 9.092% VRN 10/01/26 | 114,549 | 113,791 | ||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Patriot Container Corp., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR | ||||||||
| 0.000% FRN 3/20/25 (a) | 17,406 | 15,976 | ||||||
| Diversified Financial Services — 0.1% | ||||||||
| Avolon TLB Borrower 1 (U.S.) LLC | ||||||||
| 2023 Term Loan B6, | ||||||||
| 0.000% 6/22/28 (a) | 148,921 | 148,735 | ||||||
| Term Loan B3, 1 mo. USD LIBOR + 1.750% | ||||||||
| 6.896% VRN 1/15/25 | 70,325 | 70,211 | ||||||
| Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 8.992% VRN 4/09/27 | 140,232 | 135,824 | ||||||
| Setanta Aircraft Leasing Designated Activity Co., Term Loan B, 3 mo. USD LIBOR + 2.000% | ||||||||
| 7.538% VRN 11/05/28 | 700,000 | 699,251 | ||||||
| 1,054,021 | ||||||||
| Electronics — 0.0% | ||||||||
| II-VI, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.967% VRN 7/02/29 | 36,571 | 36,434 | ||||||
| Entertainment — 0.1% | ||||||||
| Crown Finance US, Inc., 2022 DIP Term Loan, 3 mo. USD Term SOFR + 10.000% | ||||||||
| 15.174% - 15.249% VRN 9/07/23 | 323,835 | 326,737 | ||||||
| Formula One Holdings Ltd., Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.102% VRN 1/15/30 | 14,243 | 14,236 | ||||||
| PENN Entertainment, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.952% VRN 5/03/29 | 52,668 | 52,448 | ||||||
| Scientific Games International, Inc., 2022 USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.248% VRN 4/14/29 | 106,804 | 106,520 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
| 7.950% VRN 5/18/25 | $ | 222,679 | $ | 221,879 | ||||
| 721,820 | ||||||||
| Environmental Controls — 0.0% | ||||||||
| Filtration Group Corp. | ||||||||
| 2018 1st Lien Term Loan, 3 mo. USD LIBOR | ||||||||
| 0.000% FRN3/29/25 (a) | 60,323 | 60,260 | ||||||
| 2023 USD Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.326% VRN 10/21/28 | 20,647 | 20,621 | ||||||
| 80,881 | ||||||||
| Food — 0.1% | ||||||||
| 8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 0.000% VRN 10/01/25 (a) | 17,406 | 15,945 | ||||||
| Dave & Buster's, Inc., 2023 Term Loan, | ||||||||
| 0.000% 6/29/29 (a) | 39,250 | 39,054 | ||||||
| H Food Holdings LLC, 2018 Term Loan B, 6 mo. USD LIBOR + 3.687% | ||||||||
| 9.269% VRN 5/23/25 | 31,170 | 27,330 | ||||||
| Hostess Brands, LLC, 2023 Term Loan B, | ||||||||
| 0.000% 6/28/30 (a) | 285,238 | 284,287 | ||||||
| 366,616 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Avantor Funding, Inc., 2021 Term Loan B5, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.452% VRN 11/08/27 | 221,024 | 220,778 | ||||||
| Bausch & Lomb, Inc., Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.592% VRN 5/10/27 | 228,947 | 221,793 | ||||||
| Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.352% VRN 10/23/28 | 103,688 | 102,424 | ||||||
| 544,995 | ||||||||
| Health Care – Services — 0.0% | ||||||||
| ICON Luxembourg Sarl, LUX Term Loan, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.753% VRN 7/03/28 | 103,105 | 103,046 | ||||||
| IQVIA, Inc., 2018 USD Term Loan B3, 1 mo. USD LIBOR + 1.750% | ||||||||
| 7.288% VRN 6/11/25 | 119,723 | 119,582 | ||||||
| 222,628 | ||||||||
| Home Furnishing — 0.0% | ||||||||
| AI Aqua Merger Sub, Inc., 2021 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.355% VRN 7/31/28 | 98,110 | 96,197 | ||||||
| Insurance — 0.2% | ||||||||
| Acrisure LLC, 2020 Term Loan B, 1 mo. USD LIBOR + 3.500% | ||||||||
| 8.693% VRN 2/15/27 | 196,947 | 190,827 | ||||||
| AmWINS Group, Inc., 2021 Term Loan B, 1 mo. USD LIBOR + 2.250% | ||||||||
| 7.442% VRN 2/19/28 | 438,475 | 434,037 | ||||||
| Asurion LLC | ||||||||
| 2018 Term Loan B7, 1 mo. USD LIBOR | ||||||||
| 0.000% FRN11/03/24 (a) | 181,783 | 181,489 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2020 Term Loan B8, 3 mo. USD LIBOR + 3.250% | ||||||||
| 8.788% VRN 12/23/26 | $ | 202,727 | $ | 194,922 | ||||
| 2022 Term Loan B10, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.202% VRN 8/19/28 | 131,744 | 124,539 | ||||||
| Hub International Ltd., 2021 Term Loan B, 3 mo. USD LIBOR + 3.250% | ||||||||
| 8.770% VRN 4/25/25 | 113,576 | 113,303 | ||||||
| 1,239,117 | ||||||||
| Internet — 0.1% | ||||||||
| Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.452% VRN 12/06/27 | 64,586 | 62,224 | ||||||
| MH Sub I LLC, 2023 Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.352% VRN 5/03/28 | 75,454 | 72,285 | ||||||
| NortonLifeLock, Inc., 2021 Term Loan A, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.952% VRN 9/10/27 | 254,921 | 249,027 | ||||||
| Proofpoint, Inc., 1st Lien Term Loan, 1 mo. USD LIBOR + 3.250% | ||||||||
| 8.467% VRN 8/31/28 | 9,899 | 9,677 | ||||||
| 393,213 | ||||||||
| Lodging — 0.1% | ||||||||
| Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.103% VRN 1/27/29 | 296,250 | 291,993 | ||||||
| Hilton Domestic Operating Co., Inc., 2019 Term Loan B2, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.939% VRN 6/22/26 | 32,149 | 32,100 | ||||||
| 324,093 | ||||||||
| Media — 0.1% | ||||||||
| Charter Communications Operating LLC, 2019 Term Loan B2, 1 mo. USD Term SOFR + 1.750%, 3 mo. USD Term SOFR + 1.750% | ||||||||
| 6.795% VRN 2/01/27 | 96,491 | 95,848 | ||||||
| CSC Holdings LLC, 2019 Term Loan B5, 1 mo. USD Term SOFR | ||||||||
| 0.000% FRN 4/15/27 (a) | 113,364 | 98,748 | ||||||
| DirecTV Financing LLC, Term Loan, 1 mo. USD LIBOR + 5.000% | ||||||||
| 10.217% VRN 8/02/27 | 379,125 | 370,227 | ||||||
| 564,823 | ||||||||
| Metal Fabricate & Hardware — 0.0% | ||||||||
| AZZ, Inc., Term Loan B, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.355% VRN 5/13/29 | 22,396 | 22,389 | ||||||
| Packaging & Containers — 0.1% | ||||||||
| Berry Global, Inc., 2021 Term Loan Z, 1 mo. USD LIBOR + 1.750% | ||||||||
| 6.972% VRN 7/01/26 | 942,660 | 941,218 | ||||||
| Pharmaceuticals — 0.4% | ||||||||
| Elanco Animal Health, Inc., Term Loan B, 1 mo. USD LIBOR + 1.750% | ||||||||
| 7.010% VRN 8/01/27 | 606,323 | 594,766 | ||||||
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.342% VRN 10/01/27 | 221,591 | 217,990 | ||||||
| Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.414% VRN 11/15/27 | 573,383 | 563,589 | ||||||
| Horizon Therapeutics USA, Inc. | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Term Loan B1, | ||||||||
| 0.000%VRN 5/22/26 (a) | $ | 105,000 | $ | 104,812 | ||||
| 2021 Term Loan B2, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.954% VRN 3/15/28 | 255,589 | 254,723 | ||||||
| Jazz Financing Lux Sarl, USD Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
| 8.864% VRN 5/05/28 | 382,682 | 382,066 | ||||||
| Organon & Co., USD Term Loan, 1 mo. USD LIBOR + 3.000% | ||||||||
| 8.250% VRN 6/02/28 | 420,271 | 419,615 | ||||||
| PRA Health Sciences, Inc., US Term Loan, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.753% VRN 7/03/28 | 25,689 | 25,674 | ||||||
| Prestige Brands, Inc., 2021 Term Loan B5, 1 mo. USD LIBOR + 2.000% | ||||||||
| 7.192% VRN 7/03/28 | 262,500 | 262,219 | ||||||
| 2,825,454 | ||||||||
| Retail — 0.1% | ||||||||
| 1011778 BC Unlimited Liability Co., Term Loan B4, 1 mo. USD LIBOR + 1.750% | ||||||||
| 6.942% VRN 11/19/26 | 364,109 | 361,225 | ||||||
| KFC Holding Co., 2021 Term Loan B, 1 mo. USD LIBOR + 1.750% | ||||||||
| 6.896% VRN 3/15/28 | 101,128 | 100,167 | ||||||
| Whatabrands LLC, 2021 Term Loan B, 1 mo. USD SOFR + 3.250%, | ||||||||
| 8.467% VRN 8/03/28 | 467,875 | 464,511 | ||||||
| 925,903 | ||||||||
| Semiconductors — 0.0% | ||||||||
| Entegris, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.750%, 3 mo. USD Term SOFR + 2.750% | ||||||||
| 7.903% - 7.989% VRN 7/06/29 | 51,050 | 51,083 | ||||||
| Software — 0.1% | ||||||||
| Athenahealth Group, Inc., 2021 Delayed Draw Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.589% VRN 2/15/29 | 38,296 | 36,812 | ||||||
| CDK Global, Inc., 2022 USD Term Loan B, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.492% VRN 7/06/29 | 132,811 | 132,351 | ||||||
| DTI Holdco, Inc., 2022 Term Loan, 3 mo. USD Term SOFR + 4.750% | ||||||||
| 9.795% VRN 4/26/29 | 22,907 | 21,225 | ||||||
| Open Text Corp., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.584% VRN 1/31/30 | 82,196 | 82,538 | ||||||
| Oracle Corp., Term Loan A1, 1 mo. USD Term SOFR + 1.600% | ||||||||
| 6.777% VRN 8/16/27 (b) | 488,855 | 483,966 | ||||||
| RealPage, Inc., 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.000% | ||||||||
| 8.217% VRN 4/24/28 | 35,637 | 34,827 | ||||||
| Renaissance Holding Corp., 2023 Refi Term Loan, 1 mo. USD Term SOFR + 4.750% | ||||||||
| 10.226% VRN 4/05/30 | 92,990 | 91,711 | ||||||
| Sophia, LP, 2021 Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
| 9.038% VRN 10/07/27 | 97,412 | 96,256 | ||||||
| 979,686 | ||||||||
| Telecommunications — 0.2% | ||||||||
| CommScope, Inc., 2019 Term Loan B, 1 mo. USD LIBOR + 3.250% | ||||||||
| 8.443% VRN 4/06/26 | 288,750 | 276,045 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Frontier Communications Corp., 2021 1st Lien Term Loan, 1 mo. USD LIBOR + 3.750% | ||||||||
| 9.000% VRN 5/01/28 | $ | 57,128 | $ | 55,192 | ||||
| SBA Senior Finance II LLC, 2018 Term Loan B, 1 mo. USD LIBOR + 1.750% | ||||||||
| 6.950% VRN 4/11/25 | 635,511 | 635,226 | ||||||
| Zayo Group Holdings, Inc., USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.217% VRN 3/09/27 | 837,204 | 655,254 | ||||||
| 1,621,717 | ||||||||
| Transportation — 0.0% | ||||||||
| Genesee & Wyoming, Inc., Term Loan, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.342% VRN 12/30/26 | 100,769 | 100,612 | ||||||
| TOTAL BANK LOANS (Cost $15,207,405) | 15,007,297 | |||||||
| CORPORATE DEBT — 28.5% | ||||||||
| Agriculture — 0.6% | ||||||||
| BAT Capital Corp. | ||||||||
| 4.390% 8/15/37 | 340,000 | 271,969 | ||||||
| 4.540% 8/15/47 | 2,165,000 | 1,593,156 | ||||||
| 4.758% 9/06/49 | 86,000 | 64,922 | ||||||
| 5.650% 3/16/52 | 495,000 | 430,026 | ||||||
| BAT International Finance PLC | ||||||||
| 2.250% 9/09/52 GBP (c) (d) | 480,000 | 238,549 | ||||||
| Imperial Brands Finance PLC | ||||||||
| 3.875% 7/26/29 (c) | 50,000 | 44,036 | ||||||
| 6.125% 7/27/27 (c) | 690,000 | 691,202 | ||||||
| Reynolds American, Inc. | ||||||||
| 5.850% 8/15/45 | 1,160,000 | 1,031,593 | ||||||
| 4,365,453 | ||||||||
| Airlines — 0.1% | ||||||||
| U.S. Airways Pass-Through Trust, Series 2011-2, Class A, | ||||||||
| 7.125% 4/22/25 | 530,961 | 529,574 | ||||||
| Auto Manufacturers — 0.1% | ||||||||
| Allison Transmission, Inc. | ||||||||
| 3.750% 1/30/31 (c) | 475,000 | 401,267 | ||||||
| Banks — 10.3% | ||||||||
| Bank of America Corp. | ||||||||
| SOFR + 1.370% 1.922% VRN 10/24/31 | 345,000 | 273,092 | ||||||
| SOFR + 1.060% 2.087% VRN 6/14/29 | 1,835,000 | 1,565,546 | ||||||
| SOFR + 1.220% 2.299% VRN 7/21/32 | 865,000 | 691,798 | ||||||
| SOFR + 1.050% 2.551% VRN 2/04/28 | 2,801,000 | 2,528,146 | ||||||
| SOFR + 1.210% 2.572% VRN 10/20/32 | 1,175,000 | 957,038 | ||||||
| SOFR + 2.150% 2.592% VRN 4/29/31 | 290,000 | 243,466 | ||||||
| 3 mo. USD Term SOFR + 1.774% 3.705% VRN 4/24/28 | 1,400,000 | 1,312,160 | ||||||
| 3 mo. USD Term SOFR + 1.837% 3.824% VRN 1/20/28 | 2,564,000 | 2,424,382 | ||||||
| 3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29 | 1,670,000 | 1,563,503 | ||||||
| Citigroup, Inc. | ||||||||
| SOFR + .770% 1.462% VRN 6/09/27 | 1,225,000 | 1,087,899 | ||||||
| SOFR + 1.167% 2.561% VRN 5/01/32 | 1,030,000 | 841,022 | ||||||
| SOFR + 2.107% 2.572% VRN 6/03/31 | 1,070,000 | 892,719 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| SOFR + 1.146% 2.666% VRN 1/29/31 | $ | 430,000 | $ | 363,992 | ||||
| SOFR + 1.422% 2.976% VRN 11/05/30 | 500,000 | 433,286 | ||||||
| SOFR + 1.351% 3.057% VRN 1/25/33 | 2,590,000 | 2,162,326 | ||||||
| SOFR + 3.914% 4.412% VRN 3/31/31 | 830,000 | 780,417 | ||||||
| Discover Bank | ||||||||
| 4.200% 8/08/23 | 1,120,000 | 1,117,808 | ||||||
| Global Bank Corp. 3 mo. USD LIBOR + 3.300% | ||||||||
| 5.250% VRN 4/16/29 (c) | 200,000 | 181,534 | ||||||
| Goldman Sachs Group, Inc. | ||||||||
| SOFR + .486% 0.925% VRN 10/21/24 | 895,000 | 879,862 | ||||||
| 1.217% 12/06/23 | 2,245,000 | 2,201,778 | ||||||
| SOFR + .798% 1.431% VRN 3/09/27 | 2,295,000 | 2,050,594 | ||||||
| SOFR + .818% 1.542% VRN 9/10/27 | 485,000 | 426,268 | ||||||
| SOFR + .913% 1.948% VRN 10/21/27 | 1,755,000 | 1,561,122 | ||||||
| SOFR + 1.090% 1.992% VRN 1/27/32 | 60,000 | 47,233 | ||||||
| SOFR + 1.248% 2.383% VRN 7/21/32 | 590,000 | 472,589 | ||||||
| SOFR + 1.264% 2.650% VRN 10/21/32 | 85,000 | 69,286 | ||||||
| HSBC Holdings PLC | ||||||||
| SOFR + 1.732% 2.013% VRN 9/22/28 | 1,370,000 | 1,173,958 | ||||||
| SOFR + 1.929% 2.099% VRN 6/04/26 | 1,480,000 | 1,369,524 | ||||||
| SOFR + 1.285% 2.206% VRN 8/17/29 | 1,135,000 | 949,504 | ||||||
| SOFR + 2.110% 4.755% VRN 6/09/28 | 1,080,000 | 1,037,672 | ||||||
| SOFR + 2.650% 6.332% VRN 3/09/44 | 665,000 | 689,348 | ||||||
| JP Morgan Chase & Co. | ||||||||
| 3 mo. USD Term SOFR + .580% 0.969% VRN 6/23/25 | 2,650,000 | 2,515,419 | ||||||
| SOFR + .605% 1.561% VRN 12/10/25 | 1,890,000 | 1,769,603 | ||||||
| SOFR + .885% 1.578% VRN 4/22/27 | 1,360,000 | 1,221,570 | ||||||
| SOFR + 1.015% 2.069% VRN 6/01/29 | 350,000 | 300,170 | ||||||
| SOFR + 1.180% 2.545% VRN 11/08/32 | 660,000 | 540,754 | ||||||
| 3 mo. USD Term SOFR + 1.250% 2.580% VRN 4/22/32 | 60,000 | 49,837 | ||||||
| 3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30 | 540,000 | 465,168 | ||||||
| SOFR + 1.170% 2.947% VRN 2/24/28 | 535,000 | 491,219 | ||||||
| 3 mo. USD Term SOFR + 1.382% 4.005% VRN 4/23/29 | 410,000 | 385,996 | ||||||
| Lloyds Banking Group PLC | ||||||||
| 1 yr. CMT + .850% 1.627% VRN 5/11/27 | 1,000,000 | 884,519 | ||||||
| 3 mo. USD LIBOR + 1.205% 3.574% VRN 11/07/28 | 425,000 | 384,912 | ||||||
| 1 yr. CMT + 3.500% 3.870% VRN 7/09/25 | 415,000 | 404,205 | ||||||
| 1 yr. CMT + 2.300% 4.976% VRN 8/11/33 | 995,000 | 930,724 | ||||||
| Macquarie Group Ltd. | ||||||||
| SOFR + 1.069% 1.340% VRN 1/12/27 (c) | 920,000 | 818,898 | ||||||
| SOFR + 1.440% 2.691% VRN 6/23/32 (c) | 5,000 | 3,940 | ||||||
| SOFR + 1.532% 2.871% VRN 1/14/33 (c) | 1,335,000 | 1,066,202 | ||||||
| SOFR + 2.405% 4.442% VRN 6/21/33 (c) | 525,000 | 468,160 | ||||||
| Morgan Stanley | ||||||||
| SOFR + .560% 1.164% VRN 10/21/25 | 2,885,000 | 2,696,396 | ||||||
| SOFR + .879% 1.593% VRN 5/04/27 | 970,000 | 868,362 | ||||||
| SOFR + 1.020% 1.928% VRN 4/28/32 | 1,005,000 | 784,533 | ||||||
| SOFR + 1.178% 2.239% VRN 7/21/32 | 1,235,000 | 981,561 | ||||||
| SOFR + 1.360% 2.484% VRN 9/16/36 | 980,000 | 743,566 | ||||||
| Natwest Group PLC 3 mo. USD LIBOR + 1.762% | ||||||||
| 4.269% VRN 3/22/25 | 1,710,000 | 1,679,683 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| SOFR + 1.933% 5.068% VRN 1/24/34 (e) | 715,000 | 685,657 | ||||||
| SOFR + 1.841% 5.582% VRN 6/12/29 | 395,000 | 393,141 | ||||||
| SOFR + 2.140% 6.037% VRN 10/28/33 | 1,025,000 | 1,048,957 | ||||||
| Santander U.K. Group Holdings PLC | ||||||||
| SOFR + .787% 1.089% VRN 3/15/25 | 1,825,000 | 1,748,405 | ||||||
| 1 yr. CMT + 1.250% 1.532% VRN 8/21/26 | 295,000 | 262,666 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| SOFR + .989% 1.673% VRN 6/14/27 | $ | 340,000 | $ | 292,923 | ||||
| SOFR + 1.220% 2.469% VRN 1/11/28 | 285,000 | 248,800 | ||||||
| 3 mo. USD LIBOR + 1.570% 4.796% VRN 11/15/24 | 525,000 | 520,999 | ||||||
| Santander U.K. PLC | ||||||||
| 5.000% 11/07/23 (c) | 1,390,000 | 1,380,770 | ||||||
| U.S. Bancorp | ||||||||
| SOFR + 1.600% 4.839% VRN 2/01/34 (e) | 1,575,000 | 1,471,093 | ||||||
| SOFR + 2.260% 5.836% VRN 6/12/34 | 455,000 | 458,292 | ||||||
| SOFR + 2.090% 5.850% VRN 10/21/33 | 715,000 | 715,950 | ||||||
| UBS Group AG | ||||||||
| SOFR + .980% 1.305% VRN 2/02/27 (c) | 1,315,000 | 1,148,873 | ||||||
| 1 yr. CMT + .850% 1.494% VRN 8/10/27 (c) | 395,000 | 339,238 | ||||||
| SOFR + 1.560% 2.593% VRN 9/11/25 (c) | 310,000 | 295,483 | ||||||
| SOFR + 1.730% 3.091% VRN 5/14/32 (c) | 1,990,000 | 1,609,763 | ||||||
| 4.282% 1/09/28 (c) | 345,000 | 318,850 | ||||||
| SOFR + 3.340% 6.373% VRN 7/15/26 (c) | 510,000 | 506,779 | ||||||
| SOFR + 3.920% 6.537% VRN 8/12/33 (c) | 4,055,000 | 4,153,992 | ||||||
| SOFR + 5.020% 9.016% VRN 11/15/33 (c) | 2,275,000 | 2,726,902 | ||||||
| Wells Fargo & Co. | ||||||||
| SOFR + 2.100% 2.393% VRN 6/02/28 | 1,370,000 | 1,220,849 | ||||||
| SOFR + 1.500% 3.350% VRN 3/02/33 | 3,530,000 | 3,021,163 | ||||||
| SOFR + 1.510% 3.526% VRN 3/24/28 | 1,800,000 | 1,680,029 | ||||||
| 3 mo. USD Term SOFR + 1.572% 3.584% VRN 5/22/28 | 1,345,000 | 1,252,656 | ||||||
| SOFR + 2.100% 4.897% VRN 7/25/33 | 795,000 | 762,574 | ||||||
| 81,069,073 | ||||||||
| Beverages — 0.1% | ||||||||
| Bacardi Ltd. | ||||||||
| 5.300% 5/15/48 (c) | 275,000 | 258,774 | ||||||
| Triton Water Holdings, Inc. | ||||||||
| 6.250% 4/01/29 (c) (e) | 450,000 | 386,199 | ||||||
| 644,973 | ||||||||
| Biotechnology — 0.3% | ||||||||
| Amgen, Inc. | ||||||||
| 5.250% 3/02/33 | 725,000 | 725,925 | ||||||
| 5.600% 3/02/43 | 725,000 | 727,194 | ||||||
| 5.650% 3/02/53 | 875,000 | 886,117 | ||||||
| Grifols Escrow Issuer SA | ||||||||
| 4.750% 10/15/28 (c) (e) | 230,000 | 199,612 | ||||||
| 2,538,848 | ||||||||
| Chemicals — 0.3% | ||||||||
| International Flavors & Fragrances, Inc. | ||||||||
| 2.300% 11/01/30 (c) | 1,685,000 | 1,335,250 | ||||||
| 3.268% 11/15/40 (c) | 350,000 | 244,768 | ||||||
| 5.000% 9/26/48 | 430,000 | 363,952 | ||||||
| SK Invictus Intermediate II Sarl | ||||||||
| 5.000% 10/30/29 (c) | 80,000 | 63,570 | ||||||
| 2,007,540 | ||||||||
| Commercial Services — 0.2% | ||||||||
| Adtalem Global Education, Inc. | ||||||||
| 5.500% 3/01/28 (c) | 85,000 | 77,137 | ||||||
| Global Payments, Inc. | ||||||||
| 5.400% 8/15/32 | 365,000 | 355,669 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5.950% 8/15/52 | $ | 495,000 | $ | 473,640 | ||||
| S&P Global, Inc. | ||||||||
| 2.900% 3/01/32 | 415,000 | 359,701 | ||||||
| Upbound Group, Inc. | ||||||||
| 6.375% 2/15/29 (c) (e) | 85,000 | 75,438 | ||||||
| WASH Multifamily Acquisition, Inc. | ||||||||
| 5.750% 4/15/26 (c) | 85,000 | 79,354 | ||||||
| 1,420,939 | ||||||||
| Computers — 0.0% | ||||||||
| NCR Corp. | ||||||||
| 5.125% 4/15/29 (c) | 175,000 | 154,921 | ||||||
| 5.250% 10/01/30 (c) | 90,000 | 78,246 | ||||||
| 233,167 | ||||||||
| Diversified Financial Services — 0.9% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 3.300% 1/30/32 | 2,270,000 | 1,857,084 | ||||||
| 3.875% 1/23/28 | 265,000 | 243,634 | ||||||
| Air Lease Corp. | ||||||||
| 3.250% 3/01/25 | 950,000 | 904,417 | ||||||
| 5.850% 12/15/27 | 905,000 | 903,784 | ||||||
| Avolon Holdings Funding Ltd. | ||||||||
| 2.528% 11/18/27 (c) | 1,109,000 | 934,995 | ||||||
| 2.875% 2/15/25 (c) | 45,000 | 41,848 | ||||||
| 3.950% 7/01/24 (c) | 380,000 | 368,619 | ||||||
| 4.375% 5/01/26 (c) | 815,000 | 761,514 | ||||||
| Capital One Financial Corp. SOFR + 1.790% | ||||||||
| 3.273% VRN 3/01/30 | 1,160,000 | 984,931 | ||||||
| Discover Financial Services | ||||||||
| 3.950% 11/06/24 | 150,000 | 144,548 | ||||||
| Park Aerospace Holdings Ltd. | ||||||||
| 5.500% 2/15/24 (c) | 75,000 | 74,146 | ||||||
| 7,219,520 | ||||||||
| Electric — 2.3% | ||||||||
| Ameren Illinois Co. | ||||||||
| 3.700% 12/01/47 | 480,000 | 385,590 | ||||||
| Arizona Public Service Co. | ||||||||
| 5.550% 8/01/33 | 830,000 | 830,600 | ||||||
| Baltimore Gas & Electric Co. | ||||||||
| 5.400% 6/01/53 | 810,000 | 822,881 | ||||||
| Duke Energy Carolinas LLC | ||||||||
| 3.700% 12/01/47 | 738,000 | 578,375 | ||||||
| Duke Energy Corp. | ||||||||
| 3.750% 9/01/46 | 471,000 | 356,275 | ||||||
| Duke Energy Progress LLC | ||||||||
| 5.250% 3/15/33 | 875,000 | 888,730 | ||||||
| Entergy Louisiana LLC | ||||||||
| 3.780% 4/01/25 | 1,250,000 | 1,211,245 | ||||||
| Eversource Energy | ||||||||
| 4.600% 7/01/27 | 735,000 | 716,578 | ||||||
| 5.125% 5/15/33 | 810,000 | 798,254 | ||||||
| FirstEnergy Transmission LLC | ||||||||
| 2.866% 9/15/28 (c) | 1,401,000 | 1,232,906 | ||||||
| 5.450% 7/15/44 (c) | 600,000 | 554,822 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Florida Power & Light Co. | ||||||||
| 3.990% 3/01/49 | $ | 1,000,000 | $ | 842,907 | ||||
| Metropolitan Edison Co. | ||||||||
| 4.000% 4/15/25 (c) | 985,000 | 943,053 | ||||||
| MidAmerican Energy Co. | ||||||||
| 4.400% 10/15/44 | 1,905,000 | 1,662,360 | ||||||
| Mong Duong Finance Holdings BV | ||||||||
| 5.125% 5/07/29 (c) | 250,000 | 219,375 | ||||||
| Oncor Electric Delivery Co. LLC | ||||||||
| 4.950% 9/15/52 (c) | 810,000 | 781,135 | ||||||
| Public Service Co. of Colorado | ||||||||
| 5.250% 4/01/53 | 770,000 | 739,500 | ||||||
| Southwestern Electric Power Co. | ||||||||
| 3.250% 11/01/51 | 425,000 | 285,037 | ||||||
| 5.300% 4/01/33 | 1,030,000 | 1,016,607 | ||||||
| TenneT Holding BV | ||||||||
| 2.750% 5/17/42 EUR (c) (d) | 515,000 | 495,926 | ||||||
| 4.500% 10/28/34 EUR (c) (d) | 750,000 | 870,068 | ||||||
| 4.750% 10/28/42 EUR (c) (d) | 185,000 | 224,114 | ||||||
| Wisconsin Power & Light Co. | ||||||||
| 4.950% 4/01/33 | 1,535,000 | 1,518,140 | ||||||
| 17,974,478 | ||||||||
| Engineering & Construction — 0.1% | ||||||||
| Artera Services LLC | ||||||||
| 9.033% 12/04/25 (c) | 257,000 | 224,875 | ||||||
| Cellnex Finance Co. SA | ||||||||
| 2.000% 9/15/32 EUR (c) (d) | 300,000 | 257,028 | ||||||
| 481,903 | ||||||||
| Entertainment — 0.5% | ||||||||
| Warnermedia Holdings, Inc. | ||||||||
| 5.050% 3/15/42 | 1,760,000 | 1,483,447 | ||||||
| 5.141% 3/15/52 | 3,001,000 | 2,443,558 | ||||||
| 3,927,005 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Waste Pro USA, Inc. | ||||||||
| 5.500% 2/15/26 (c) | 575,000 | 533,024 | ||||||
| Food — 0.4% | ||||||||
| JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||
| 3.000% 2/02/29 (c) | 730,000 | 619,047 | ||||||
| 3.000% 5/15/32 (c) | 410,000 | 314,655 | ||||||
| 6.500% 12/01/52 (c) | 900,000 | 852,931 | ||||||
| Pilgrim's Pride Corp. | ||||||||
| 3.500% 3/01/32 (e) | 500,000 | 395,300 | ||||||
| 5.875% 9/30/27 (c) | 75,000 | 74,100 | ||||||
| 6.250% 7/01/33 | 720,000 | 697,386 | ||||||
| Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed | ||||||||
| 4.625% 3/01/29 (c) | 400,000 | 320,486 | ||||||
| 3,273,905 | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Gas — 0.2% | ||||||||
| KeySpan Gas East Corp. | ||||||||
| 5.819% 4/01/41 (c) | $ | 1,337,000 | $ | 1,283,926 | ||||
| Health Care – Products — 0.0% | ||||||||
| Embecta Corp. | ||||||||
| 5.000% 2/15/30 (c) | 64,000 | 53,138 | ||||||
| Health Care – Services — 1.5% | ||||||||
| Aetna, Inc. | ||||||||
| 3.500% 11/15/24 | 500,000 | 484,359 | ||||||
| Catalent Pharma Solutions, Inc. | ||||||||
| 3.500% 4/01/30 (c) | 380,000 | 307,800 | ||||||
| Centene Corp. | ||||||||
| 2.450% 7/15/28 | 1,951,000 | 1,667,629 | ||||||
| 4.250% 12/15/27 | 590,000 | 551,623 | ||||||
| CommonSpirit Health | ||||||||
| 2.782% 10/01/30 | 455,000 | 382,506 | ||||||
| 3.347% 10/01/29 | 65,000 | 57,184 | ||||||
| HCA, Inc. | ||||||||
| 2.375% 7/15/31 | 230,000 | 183,939 | ||||||
| 3.500% 9/01/30 | 859,000 | 752,956 | ||||||
| 4.125% 6/15/29 | 1,262,000 | 1,167,841 | ||||||
| 5.125% 6/15/39 | 650,000 | 602,993 | ||||||
| 5.250% 4/15/25 | 644,000 | 635,731 | ||||||
| 5.250% 6/15/49 | 485,000 | 437,630 | ||||||
| 5.375% 9/01/26 | 590,000 | 585,364 | ||||||
| 5.500% 6/15/47 | 775,000 | 729,965 | ||||||
| Humana, Inc. | ||||||||
| 3.700% 3/23/29 | 2,050,000 | 1,877,544 | ||||||
| ModivCare Escrow Issuer, Inc. | ||||||||
| 5.000% 10/01/29 (c) | 450,000 | 333,000 | ||||||
| ModivCare, Inc. | ||||||||
| 5.875% 11/15/25 (c) | 250,000 | 231,535 | ||||||
| Molina Healthcare, Inc. | ||||||||
| 3.875% 11/15/30 (c) | 417,000 | 358,269 | ||||||
| 3.875% 5/15/32 (c) | 520,000 | 435,942 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 6.750% 5/15/31 (c) | 250,000 | 250,609 | ||||||
| 12,034,419 | ||||||||
| Household Products & Wares — 0.0% | ||||||||
| Central Garden & Pet Co. | ||||||||
| 5.125% 2/01/28 | 22,000 | 20,668 | ||||||
| Insurance — 1.6% | ||||||||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||
| 6.750% 10/15/27 (c) | 90,000 | 84,600 | ||||||
| Aon Corp./Aon Global Holdings PLC | ||||||||
| 3.900% 2/28/52 | 845,000 | 663,083 | ||||||
| Athene Global Funding | ||||||||
| 1.985% 8/19/28 (c) | 2,200,000 | 1,765,454 | ||||||
| 3.205% 3/08/27 (c) | 445,000 | 398,132 | ||||||
| Farmers Exchange Capital II | ||||||||
| 3 mo. USD LIBOR + 3.454% 5.454% VRN 10/15/54 (c) | 3,290,000 | 2,892,897 | ||||||
| 3 mo. USD LIBOR + 3.744% 6.151% VRN 11/01/53 (c) | 350,000 | 339,951 | ||||||
| Marsh & McLennan Cos., Inc. | ||||||||
| 5.750% 11/01/32 | 545,000 | 572,824 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Metropolitan Life Global Funding I | ||||||||
| 5.150% 3/28/33 (c) | $ | 480,000 | $ | 474,719 | ||||
| Teachers Insurance & Annuity Association of America 3 mo. USD LIBOR + 2.661% | ||||||||
| 4.375% VRN 9/15/54 (c) | 4,000,000 | 3,860,981 | ||||||
| Willis North America, Inc. | ||||||||
| 5.350% 5/15/33 | 1,205,000 | 1,174,971 | ||||||
| 12,227,612 | ||||||||
| Internet — 0.4% | ||||||||
| Meta Platforms, Inc. | ||||||||
| 4.450% 8/15/52 | 430,000 | 373,901 | ||||||
| 5.600% 5/15/53 | 1,235,000 | 1,268,360 | ||||||
| Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc. | ||||||||
| 4.750% 4/30/27 (c) | 75,000 | 66,240 | ||||||
| Tencent Holdings Ltd. | ||||||||
| 3.680% 4/22/41 (c) | 455,000 | 351,113 | ||||||
| 3.840% 4/22/51 (c) | 455,000 | 334,186 | ||||||
| 3.975% 4/11/29 (c) | 410,000 | 381,179 | ||||||
| 2,774,979 | ||||||||
| Lodging — 0.1% | ||||||||
| Hyatt Hotels Corp. | ||||||||
| 1.800% 10/01/24 | 930,000 | 885,163 | ||||||
| Machinery – Diversified — 0.0% | ||||||||
| OT Merger Corp. | ||||||||
| 7.875% 10/15/29 (c) | 250,000 | 156,254 | ||||||
| Media — 0.8% | ||||||||
| Cable One, Inc. | ||||||||
| 4.000% 11/15/30 (c) (e) | 1,085,000 | 847,656 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 3.750% 2/15/28 | 500,000 | 458,364 | ||||||
| 4.800% 3/01/50 | 375,000 | 282,937 | ||||||
| 4.908% 7/23/25 | 1,105,000 | 1,083,615 | ||||||
| 5.250% 4/01/53 | 250,000 | 201,921 | ||||||
| 5.375% 4/01/38 | 5,000 | 4,259 | ||||||
| 5.375% 5/01/47 | 180,000 | 148,780 | ||||||
| 5.750% 4/01/48 | 1,088,000 | 931,286 | ||||||
| CSC Holdings LLC | ||||||||
| 5.375% 2/01/28 (c) | 150,000 | 120,531 | ||||||
| 5.750% 1/15/30 (c) | 250,000 | 118,042 | ||||||
| 6.500% 2/01/29 (c) | 1,033,000 | 834,701 | ||||||
| 7.500% 4/01/28 (c) | 80,000 | 45,598 | ||||||
| 11.250% 5/15/28 (c) | 200,000 | 193,946 | ||||||
| Diamond Sports Group LLC/Diamond Sports Finance Co. | ||||||||
| 5.375% 8/15/26 (c) | 656,000 | 22,140 | ||||||
| Time Warner Cable LLC | ||||||||
| 5.500% 9/01/41 | 370,000 | 307,816 | ||||||
| 5.875% 11/15/40 | 360,000 | 317,574 | ||||||
| VZ Secured Financing BV | ||||||||
| 5.000% 1/15/32 (c) | 700,000 | 563,757 | ||||||
| 6,482,923 | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Oil & Gas — 0.4% | ||||||||
| Ecopetrol SA | ||||||||
| 8.875% 1/13/33 | $ | 100,000 | $ | 99,022 | ||||
| KazMunayGas National Co. JSC | ||||||||
| 4.750% 4/19/27 (c) | 200,000 | 189,762 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 0.000% 10/10/36 | 115,000 | 61,064 | ||||||
| 4.500% 7/15/44 | 400,000 | 305,000 | ||||||
| Pertamina Persero PT | ||||||||
| 3.100% 8/27/30 (c) | 675,000 | 585,012 | ||||||
| Petroleos Mexicanos | ||||||||
| 6.625% 6/15/35 | 2,100,000 | 1,464,396 | ||||||
| 7.690% 1/23/50 | 295,000 | 199,961 | ||||||
| Transocean Poseidon Ltd. | ||||||||
| 6.875% 2/01/27 (c) | 189,313 | 186,709 | ||||||
| 3,090,926 | ||||||||
| Oil & Gas Services — 0.0% | ||||||||
| Archrock Partners LP/Archrock Partners Finance Corp. | ||||||||
| 6.250% 4/01/28 (c) | 75,000 | 70,415 | ||||||
| Packaging & Containers — 0.2% | ||||||||
| Berry Global, Inc. | ||||||||
| 1.650% 1/15/27 | 85,000 | 73,321 | ||||||
| 4.875% 7/15/26 (c) | 585,000 | 562,331 | ||||||
| 5.500% 4/15/28 (c) | 310,000 | 305,071 | ||||||
| Sealed Air Corp. | ||||||||
| 1.573% 10/15/26 (c) | 1,200,000 | 1,043,958 | ||||||
| 1,984,681 | ||||||||
| Pharmaceuticals — 1.2% | ||||||||
| AbbVie, Inc. | ||||||||
| 4.450% 5/14/46 | 339,000 | 298,488 | ||||||
| Bayer U.S. Finance II LLC | ||||||||
| 4.375% 12/15/28 (c) | 3,281,000 | 3,112,501 | ||||||
| 4.625% 6/25/38 (c) | 1,310,000 | 1,140,598 | ||||||
| 4.875% 6/25/48 (c) | 220,000 | 197,855 | ||||||
| Becton Dickinson & Co. | ||||||||
| 2.823% 5/20/30 | 1,735,000 | 1,517,422 | ||||||
| Cigna Group | ||||||||
| 3.400% 3/15/51 | 210,000 | 153,077 | ||||||
| CVS Health Corp. | ||||||||
| 5.050% 3/25/48 | 2,360,000 | 2,175,313 | ||||||
| Kevlar SpA | ||||||||
| 6.500% 9/01/29 (c) | 675,000 | 575,437 | ||||||
| 9,170,691 | ||||||||
| Pipelines — 0.8% | ||||||||
| Enbridge, Inc. | ||||||||
| 5.700% 3/08/33 | 215,000 | 217,952 | ||||||
| Energy Transfer LP | ||||||||
| 4.950% 6/15/28 | 1,131,000 | 1,097,037 | ||||||
| 5.350% 5/15/45 | 370,000 | 323,361 | ||||||
| 5.400% 10/01/47 | 1,275,000 | 1,123,750 | ||||||
| 5.950% 10/01/43 | 750,000 | 699,696 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Galaxy Pipeline Assets Bidco Ltd. | ||||||||
| 2.160% 3/31/34 (c) | $ | 354,840 | $ | 301,272 | ||||
| Kinder Morgan, Inc. | ||||||||
| 5.550% 6/01/45 | 565,000 | 520,518 | ||||||
| Plains All American Pipeline LP/PAA Finance Corp. | ||||||||
| 3.550% 12/15/29 | 228,000 | 200,911 | ||||||
| Rockies Express Pipeline LLC | ||||||||
| 4.950% 7/15/29 (c) | 1,000,000 | 915,000 | ||||||
| 6.875% 4/15/40 (c) | 745,000 | 672,370 | ||||||
| Sabine Pass Liquefaction LLC | ||||||||
| 4.500% 5/15/30 | 164,000 | 155,892 | ||||||
| Southern Gas Corridor CJSC | ||||||||
| 6.875% 3/24/26 (c) | 400,000 | 406,080 | ||||||
| 6,633,839 | ||||||||
| Real Estate — 0.2% | ||||||||
| Annington Funding PLC | ||||||||
| 2.308% 10/06/32 GBP (c) (d) | 220,000 | 193,716 | ||||||
| 3.184% 7/12/29 GBP (c) (d) | 100,000 | 101,088 | ||||||
| 3.685% 7/12/34 GBP (c) (d) | 200,000 | 190,577 | ||||||
| Blackstone Property Partners Europe Holdings Sarl | ||||||||
| 1.625% 4/20/30 EUR (c) (d) | 500,000 | 382,399 | ||||||
| 1.750% 3/12/29 EUR (c) (d) | 350,000 | 283,280 | ||||||
| Vonovia Finance BV | ||||||||
| 2.250% 4/07/30 EUR (c) (d) | 100,000 | 89,767 | ||||||
| Vonovia SE | ||||||||
| 1.500% 6/14/41 EUR (c) (d) | 400,000 | 241,417 | ||||||
| 1,482,244 | ||||||||
| Real Estate Investment Trusts (REITS) — 2.4% | ||||||||
| American Assets Trust LP | ||||||||
| 3.375% 2/01/31 | 865,000 | 675,952 | ||||||
| American Homes 4 Rent LP | ||||||||
| 3.625% 4/15/32 | 1,275,000 | 1,101,846 | ||||||
| 4.300% 4/15/52 | 375,000 | 292,025 | ||||||
| American Tower Corp. | ||||||||
| 1.000% 1/15/32 EUR (d) | 100,000 | 81,449 | ||||||
| 2.700% 4/15/31 | 195,000 | 161,699 | ||||||
| 5.550% 7/15/33 | 1,025,000 | 1,032,030 | ||||||
| 5.650% 3/15/33 | 1,080,000 | 1,095,138 | ||||||
| CapitaLand Ascendas REIT | ||||||||
| 0.750% 6/23/28 EUR (c) (d) | 445,000 | 384,918 | ||||||
| Crown Castle, Inc. | ||||||||
| 3.250% 1/15/51 | 1,004,000 | 684,301 | ||||||
| CubeSmart LP | ||||||||
| 2.000% 2/15/31 | 730,000 | 570,829 | ||||||
| Digital Intrepid Holding BV | ||||||||
| 0.625% 7/15/31 EUR (c) (d) | 1,050,000 | 794,044 | ||||||
| Extra Space Storage LP | ||||||||
| 2.350% 3/15/32 | 1,075,000 | 840,064 | ||||||
| 3.900% 4/01/29 | 670,000 | 610,303 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 3.250% 1/15/32 | 9,000 | 7,267 | ||||||
| 4.000% 1/15/30 | 85,000 | 73,666 | ||||||
| 4.000% 1/15/31 | 95,000 | 82,133 | ||||||
| 5.300% 1/15/29 | 620,000 | 590,335 | ||||||
| 5.375% 4/15/26 | 1,375,000 | 1,346,007 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Healthcare Realty Holdings LP | ||||||||
| 2.000% 3/15/31 | $ | 240,000 | $ | 184,249 | ||||
| 2.050% 3/15/31 | 106,000 | 79,448 | ||||||
| 2.400% 3/15/30 | 615,000 | 486,693 | ||||||
| 3.100% 2/15/30 | 825,000 | 706,681 | ||||||
| 3.625% 1/15/28 | 157,000 | 138,914 | ||||||
| Hudson Pacific Properties LP | ||||||||
| 3.250% 1/15/30 | 160,000 | 101,250 | ||||||
| 3.950% 11/01/27 | 95,000 | 69,091 | ||||||
| 4.650% 4/01/29 (e) | 1,275,000 | 899,755 | ||||||
| Invitation Homes Operating Partnership LP | ||||||||
| 2.000% 8/15/31 | 940,000 | 720,144 | ||||||
| 2.700% 1/15/34 | 115,000 | 86,950 | ||||||
| Life Storage LP | ||||||||
| 2.400% 10/15/31 | 1,040,000 | 823,901 | ||||||
| Physicians Realty LP | ||||||||
| 2.625% 11/01/31 | 465,000 | 361,704 | ||||||
| 4.300% 3/15/27 | 105,000 | 98,847 | ||||||
| Prologis Euro Finance LLC | ||||||||
| 4.250% 1/31/43 EUR (d) | 710,000 | 714,966 | ||||||
| Realty Income Corp. | ||||||||
| 5.125% 7/06/34 EUR (d) (f) | 365,000 | 397,830 | ||||||
| VICI Properties LP | ||||||||
| 4.950% 2/15/30 | 20,000 | 18,762 | ||||||
| 5.125% 5/15/32 | 1,029,000 | 962,778 | ||||||
| 5.625% 5/15/52 | 233,000 | 207,556 | ||||||
| VICI Properties LP/VICI Note Co., Inc. | ||||||||
| 3.750% 2/15/27 (c) | 30,000 | 27,520 | ||||||
| 3.875% 2/15/29 (c) | 430,000 | 377,352 | ||||||
| 4.125% 8/15/30 (c) | 125,000 | 110,054 | ||||||
| 4.500% 9/01/26 (c) | 240,000 | 226,733 | ||||||
| 4.500% 1/15/28 (c) | 160,000 | 147,007 | ||||||
| 4.625% 6/15/25 (c) | 65,000 | 62,806 | ||||||
| 5.750% 2/01/27 (c) | 75,000 | 73,404 | ||||||
| 18,508,401 | ||||||||
| Retail — 0.1% | ||||||||
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. | ||||||||
| 6.750% 1/15/30 (c) (e) | 203,000 | 172,761 | ||||||
| Michaels Cos., Inc. | ||||||||
| 5.250% 5/01/28 (c) | 556,000 | 449,215 | ||||||
| 7.875% 5/01/29 (c) | 339,000 | 228,415 | ||||||
| Papa John's International, Inc. | ||||||||
| 3.875% 9/15/29 (c) (e) | 233,000 | 197,234 | ||||||
| 1,047,625 | ||||||||
| Savings & Loans — 0.1% | ||||||||
| Nationwide Building Society | ||||||||
| SOFR + 1.290% 2.972% VRN 2/16/28 (c) | 720,000 | 646,714 | ||||||
| 3 mo. USD LIBOR + 1.392% 4.363% VRN 8/01/24 (c) | 300,000 | 299,394 | ||||||
| 946,108 | ||||||||
| Semiconductors — 0.1% | ||||||||
| Broadcom, Inc. | ||||||||
| 2.600% 2/15/33 (c) | 412,000 | 321,975 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.419% 4/15/33 (c) | $ | 420,000 | $ | 351,229 | ||||
| 673,204 | ||||||||
| Software — 0.5% | ||||||||
| Open Text Corp. | ||||||||
| 6.900% 12/01/27 (c) | 125,000 | 127,254 | ||||||
| Oracle Corp. | ||||||||
| 3.800% 11/15/37 | 200,000 | 163,521 | ||||||
| 3.950% 3/25/51 | 2,988,000 | 2,259,293 | ||||||
| 6.500% 4/15/38 | 515,000 | 548,277 | ||||||
| 6.900% 11/09/52 | 355,000 | 398,441 | ||||||
| Take-Two Interactive Software, Inc. | ||||||||
| 4.000% 4/14/32 | 810,000 | 741,958 | ||||||
| 4,238,744 | ||||||||
| Telecommunications — 1.6% | ||||||||
| AT&T, Inc. | ||||||||
| 3.800% 12/01/57 | 887,000 | 642,186 | ||||||
| 4.500% 5/15/35 | 110,000 | 101,123 | ||||||
| 4.850% 3/01/39 | 366,000 | 336,695 | ||||||
| 5.250% 3/01/37 | 850,000 | 829,991 | ||||||
| CommScope, Inc. | ||||||||
| 4.750% 9/01/29 (c) | 700,000 | 551,880 | ||||||
| Frontier Communications Holdings LLC | ||||||||
| 8.625% 3/15/31 (c) | 705,000 | 682,304 | ||||||
| 8.750% 5/15/30 (c) | 200,000 | 195,475 | ||||||
| Intelsat Jackson Holdings S.A., Escrow | ||||||||
| 8.500% 10/15/24 (b) (c) (g) | 378,000 | — | ||||||
| 9.750% 7/15/25 (b) (c) (g) | 1,379,000 | — | ||||||
| Intelsat Jackson Holdings SA | ||||||||
| 6.500% 3/15/30 (c) | 1,440,000 | 1,310,914 | ||||||
| Sprint Capital Corp. | ||||||||
| 8.750% 3/15/32 | 665,000 | 803,724 | ||||||
| Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC | ||||||||
| 4.738% 9/20/29 (c) | 347,818 | 343,279 | ||||||
| 5.152% 9/20/29 (c) | 1,914,250 | 1,894,045 | ||||||
| T-Mobile USA, Inc. | ||||||||
| 2.250% 2/15/26 | 1,217,000 | 1,118,247 | ||||||
| 2.550% 2/15/31 | 955,000 | 793,806 | ||||||
| 3.750% 4/15/27 | 1,270,000 | 1,202,189 | ||||||
| 3.875% 4/15/30 | 180,000 | 165,828 | ||||||
| 4.375% 4/15/40 | 840,000 | 741,798 | ||||||
| Vodafone Group PLC | ||||||||
| 4.875% 6/19/49 | 1,260,000 | 1,116,002 | ||||||
| 12,829,486 | ||||||||
| Transportation — 0.0% | ||||||||
| Transnet SOC Ltd. | ||||||||
| 8.250% 2/06/28 (c) (e) | 200,000 | 194,250 | ||||||
| TOTAL CORPORATE DEBT (Cost $242,752,474) | 223,410,365 | |||||||
| MUNICIPAL OBLIGATIONS — 0.5% | ||||||||
| City of New York NY, General Obligation, | ||||||||
| 3.000% 8/01/34 | 945,000 | 787,842 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| County of Miami-Dade FL Aviation Revenue, Revenue Bond, | ||||||||
| 2.707% 10/01/33 | $ | 375,000 | $ | 306,776 | ||||
| New York City Transitional Finance Authority Future Tax Secured Revenue | ||||||||
| Revenue Bond, 5.130% 2/01/35 | 1,033,000 | 1,039,985 | ||||||
| Revenue Bond, 5.150% 2/01/36 | 1,033,000 | 1,038,262 | ||||||
| New York State Dormitory Authority, Revenue Bond, | ||||||||
| 5.628% 3/15/39 | 860,000 | 895,835 | ||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $4,346,529) | 4,068,700 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 15.2% | ||||||||
| Commercial Mortgage-Backed Securities — 2.5% | ||||||||
| BAMLL Commercial Mortgage Securities Trust | ||||||||
| Series 2019-BPR, Class AMP, 3.287% 11/05/32 (c) | 1,920,000 | 1,754,032 | ||||||
| Series 2018-PARK, Class A, 4.227% VRN 8/10/38 (c) (h) | 1,280,000 | 1,126,322 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2019-XL, Class A, 1 mo. USD Term SOFR + 1.034% 6.182% FRN 10/15/36 (c) | 2,263,222 | 2,249,103 | ||||||
| Series 2022-CSMO, Class A, 1 mo. USD Term SOFR + 2.115% 7.262% FRN 6/15/27 (c) | 1,641,000 | 1,637,926 | ||||||
| BX Trust | ||||||||
| Series 2019-OC11, Class A, 3.202% 12/09/41 (c) | 420,000 | 358,841 | ||||||
| Series 2022-VAMF, Class C, 1 mo. USD Term SOFR + 1.580% 6.727% FRN 1/15/39 (c) | 1,057,000 | 1,022,667 | ||||||
| Series 2022-PSB, Class D, 1 mo. USD Term SOFR + 4.693% 9.840% FRN 8/15/39 (c) | 1,196,107 | 1,191,815 | ||||||
| Century Plaza Towers, Series 2019-CPT, Class B, | ||||||||
| 3.097% VRN 11/13/39 (c) (h) | 1,000,000 | 713,066 | ||||||
| Citigroup Commercial Mortgage Trust, Series 2020-420K, Class D, | ||||||||
| 3.422% VRN 11/10/42 (c) (h) | 700,000 | 507,660 | ||||||
| CPT Mortgage Trust, Series 2019-CPT, Class A | ||||||||
| 2.865% 11/13/39 (c) | 805,000 | 639,957 | ||||||
| DC Office Trust, Series 2019-MTC, Class A | ||||||||
| 2.965% 9/15/45 (c) | 860,000 | 686,707 | ||||||
| Hudson Yards Mortgage Trust | ||||||||
| Series 2019-55HY, Class A, 3.041% VRN 12/10/41 (c) (h) | 860,000 | 719,447 | ||||||
| Series 2019-30HY, Class A, 3.228% 7/10/39 (c) | 880,000 | 753,175 | ||||||
| JP Morgan Chase Commercial Mortgage Securities Trust | ||||||||
| Series 2019-OSB, Class A, 3.397% 6/05/39 (c) | 900,000 | 776,461 | ||||||
| Series 2021-HTL5, Class A, 1 mo. USD LIBOR + 1.115% 6.309% FRN 11/15/38 (c) | 2,138,000 | 2,085,921 | ||||||
| MKT Mortgage Trust, Series 2020-525M, Class A | ||||||||
| 2.694% 2/12/40 (c) | 570,000 | 425,055 | ||||||
| One Bryant Park Trust, Series 2019-OBP, Class A | ||||||||
| 2.516% 9/15/54 (c) | 1,085,000 | 880,845 | ||||||
| RBS Commercial Funding, Inc. Trust, Series 2013-GSP, Class A, | ||||||||
| 3.961% VRN 1/15/32 (c) (h) | 640,000 | 617,906 | ||||||
| SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class A2B, | ||||||||
| 4.144% VRN 1/05/43 (c) (h) | 50,000 | 33,899 | ||||||
| TTAN, Series 2021-MHC, Class E, 1 mo. USD LIBOR + 2.400% | ||||||||
| 7.594% FRN 3/15/38 (c) | 1,180,801 | 1,133,618 | ||||||
| 19,314,423 | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Home Equity Asset-Backed Securities — 0.7% | ||||||||
| Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-W2, Class M1, 1 mo. USD LIBOR + .735% | ||||||||
| 5.885% FRN 10/25/35 | $ | 1,631,419 | $ | 1,562,803 | ||||
| Morgan Stanley Capital I, Inc. Trust, Series 2006-HE1, Class A4, 1 mo. USD LIBOR + .580% | ||||||||
| 5.730% FRN 1/25/36 | 1,808,831 | 1,706,425 | ||||||
| Option One Mortgage Loan Trust, Series 2006-3, Class 1A1, 1 mo. USD LIBOR + .140% | ||||||||
| 5.290% FRN 2/25/37 | 3,534,783 | 2,241,964 | ||||||
| 5,511,192 | ||||||||
| Other Asset-Backed Securities — 4.0% | ||||||||
| AGL CLO Ltd., Series 2021-13A, Class A1, 3 mo. USD LIBOR + 1.160% | ||||||||
| 6.410% FRN 10/20/34 (c) | 2,400,000 | 2,359,075 | ||||||
| AIG CLO Ltd., Series 2019-2A, Class BR, 3 mo. USD LIBOR + 1.600% | ||||||||
| 6.855% FRN 10/25/33 (c) | 2,400,000 | 2,340,485 | ||||||
| Aimco CLO Ltd., Series 2020-11A, Class AR, 3 mo. USD LIBOR + 1.130% | ||||||||
| 6.390% FRN 10/17/34 (c) | 2,075,000 | 2,037,005 | ||||||
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class A, 1 mo. USD LIBOR + 1.070% | ||||||||
| 6.263% FRN 8/15/34 (c) | 2,018,000 | 1,968,867 | ||||||
| CIM Trust, Series 2023-NR1, Class A1, | ||||||||
| 6.000% STEP 6/25/62 (c) | 3,775,203 | 3,601,421 | ||||||
| Countrywide Asset-Backed Certificates Trust | ||||||||
| Series 2007-7, Class 1A, 1 mo. USD LIBOR + .200% 5.350% FRN 10/25/47 | 2,719,721 | 2,567,567 | ||||||
| Series 2004-5, Class M1, 1 mo. USD LIBOR + .855% 6.005% FRN 8/25/34 | 115,928 | 113,749 | ||||||
| First Franklin Mortgage Loan Trust, Series 2005-FF9, Class A4, US0001M + .720% | ||||||||
| 5.870% FRN 10/25/35 | 10,995 | 10,998 | ||||||
| Flatiron CLO Ltd., Series 2021-1A, Class B, 3 mo. USD LIBOR + 1.600% | ||||||||
| 6.865% FRN 7/19/34 (c) | 2,400,000 | 2,340,415 | ||||||
| GoldenTree Loan Opportunities Ltd., Series 2014-9A, Class AR2, 3 mo. USD LIBOR + 1.110% | ||||||||
| 6.409% FRN 10/29/29 (c) | 1,345,582 | 1,341,142 | ||||||
| GSAMP Trust, Series 2006-HE1, Class M1, 1 mo. USD LIBOR + .585% | ||||||||
| 5.735% FRN 1/25/36 | 513,516 | 508,805 | ||||||
| Magnetite Ltd., Series 2012-7A, Class A1R2, 3 mo. USD LIBOR + .800% | ||||||||
| 6.060% FRN 1/15/28 (c) | 1,048,703 | 1,041,863 | ||||||
| Morgan Stanley Capital I, Inc. Trust, Series 2006-NC2, Class A2D, 1 mo. USD LIBOR + .580% | ||||||||
| 5.730% FRN 2/25/36 | 1,412,105 | 1,364,175 | ||||||
| New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1 | ||||||||
| 1.910% 10/20/61 (c) | 1,646,000 | 1,398,350 | ||||||
| Progress Residential Trust | ||||||||
| Series 2021-SFR8, Class C, 1.931% 10/17/38 (c) | 2,500,000 | 2,156,149 | ||||||
| Series 2020-SFR3, Class F, 2.796% 10/17/27 (c) | 860,000 | 758,497 | ||||||
| Series 2021-SFR10, Class F, 4.608% 12/17/40 (c) | 1,156,996 | 969,127 | ||||||
| Rockford Tower CLO Ltd., Series 2019-1A, Class AR, 3 mo. USD LIBOR + 1.120% | ||||||||
| 6.370% FRN 4/20/34 (c) | 2,435,000 | 2,385,414 | ||||||
| VOLT CIII LLC, Series 2021-CF1, Class A1, | ||||||||
| 1.992% STEP 8/25/51 (c) | 2,312,119 | 2,146,367 | ||||||
| 31,409,471 | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Student Loans Asset-Backed Securities — 1.6% | ||||||||
| Access Group, Inc., Series 2015-1, Class A, 1 mo. USD LIBOR + .700% | ||||||||
| 5.850% FRN 7/25/56 (c) | $ | 1,172,568 | $ | 1,122,242 | ||||
| Education Loan Asset-Backed Trust I, Series 2013-1, Class A2, 1 mo. USD LIBOR + .800% | ||||||||
| 5.950% FRN 4/26/32 (c) | 1,632,880 | 1,616,674 | ||||||
| Nelnet Student Loan Trust, Series 2006-1, Class A6, 3 mo. USD LIBOR + .450% | ||||||||
| 5.843% FRN 8/23/36 (c) | 1,470,044 | 1,443,390 | ||||||
| SLM Student Loan Trust | ||||||||
| Series 2014-1, Class A3, 1 mo. USD LIBOR + .600% 5.750% FRN 2/26/29 | 1,229,887 | 1,176,023 | ||||||
| Series 2012-7, Class A3, 1 mo. USD LIBOR + .650% 5.800% FRN 5/26/26 | 2,132,740 | 2,038,154 | ||||||
| Series 2008-5, Class B, 3 mo. USD LIBOR + 1.850% 7.105% FRN 7/25/73 | 3,735,000 | 3,684,506 | ||||||
| Wachovia Student Loan Trust, Series 2006-1, Class A6, 3 mo. USD LIBOR + .170% | ||||||||
| 5.425% FRN 4/25/40 (c) | 1,494,059 | 1,429,735 | ||||||
| 12,510,724 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 6.4% | ||||||||
| Ajax Mortgage Loan Trust | ||||||||
| Series 2019-F, 2.860% STEP 7/25/59 (c) | 1,699,931 | 1,578,089 | ||||||
| Series 2022-B, Class A1, 3.500% STEP 3/27/62 (c) | 2,865,059 | 2,629,850 | ||||||
| American Home Mortgage Investment Trust, Series 2006-1, Class 12A1, 1 mo. USD LIBOR + .400% | ||||||||
| 5.550% FRN 3/25/46 | 1,384,664 | 1,163,710 | ||||||
| Bear Stearns Trust, Series 2005-4, Class 25A1, | ||||||||
| 4.305% VRN 5/25/35 (h) | 626,404 | 567,242 | ||||||
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, | ||||||||
| 3.000% VRN 2/25/61 (c) (h) | 2,666,949 | 2,402,274 | ||||||
| CIM Trust, Series 2021-J3, Class A1, | ||||||||
| 2.500% VRN 6/25/51 (c) (h) | 4,418,379 | 3,555,932 | ||||||
| Citigroup Mortgage Loan Trust, Series 2006-AR2, Class 1A2, | ||||||||
| 4.047% VRN 3/25/36 (h) | 2,167 | 2,001 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2021-NQM6, Class A1, 1.174% VRN 7/25/66 (c) (h) | 3,036,823 | 2,416,513 | ||||||
| Series 2018-RPL9, Class A, 3.850% VRN 9/25/57 (c) (h) | 1,525,436 | 1,411,956 | ||||||
| First Horizon Alternative Mortgage Securities Trust, Series 2005-AA9, Class 2A1, | ||||||||
| 5.438% VRN 11/25/35 (h) | 1,175,892 | 994,534 | ||||||
| GS Mortgage-Backed Securities Trust, Series 2022-PJ6 , Class A4, | ||||||||
| 3.000% VRN 1/25/53 (c) (h) | 4,139,008 | 3,470,462 | ||||||
| HarborView Mortgage Loan Trust | ||||||||
| Series 2006-10, Class 1A1A, 1 mo. USD LIBOR + .200% 5.357% FRN 11/19/36 | 2,609,239 | 1,894,881 | ||||||
| Series 2007-6, Class 1A1A, 1 mo. USD LIBOR + .200% 5.357% FRN 8/19/37 | 2,328,204 | 1,838,792 | ||||||
| HomeBanc Mortgage Trust, Series 2005-5, Class A1, 1 mo. USD LIBOR + .520% | ||||||||
| 5.670% FRN 1/25/36 | 1,803,926 | 1,708,893 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2021-13, Class A3, 2.500% VRN 4/25/52 (c) (h) | 3,731,304 | 2,998,307 | ||||||
| Series 2005-A5, Class 1A2, 3.613% VRN 8/25/35 (h) | 76,641 | 71,988 | ||||||
| MASTR Adjustable Rate Mortgages Trust, Series 2004-3, Class 4A1, | ||||||||
| 3.461% VRN 4/25/34 (h) | 470,009 | 409,325 | ||||||
| Onslow Bay Mortgage Loan Trust, Series 2021-NQM4, Class A1, | ||||||||
| 1.957% VRN 10/25/61 (c) (h) | 3,832,609 | 3,084,675 | ||||||
| Preston Ridge Partners Mortgage LLC | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2021-5, Class A1, 1.793% STEP 6/25/26 (c) | $ | 3,557,569 | $ | 3,212,682 | ||||
| Series 2021-6, Class A1, 1.793% STEP 7/25/26 (c) | 1,548,776 | 1,433,135 | ||||||
| Series 2022-1, Class A1, 3.720% STEP 2/25/27 (c) | 3,520,220 | 3,340,405 | ||||||
| Series 2022-4, Class A1, 5.000% STEP 8/25/27 (c) | 832,516 | 791,838 | ||||||
| Residential Accredit Loans, Inc. Trust, Series 2006-QA7, Class 2A1, 1 mo. USD LIBOR + .370% | ||||||||
| 5.520% FRN 8/25/36 | 483,099 | 411,257 | ||||||
| Residential Asset Securitization Trust, Series 2006-A14C, Class 1A1 | ||||||||
| 6.250% 12/25/36 | 1,840,914 | 1,349,419 | ||||||
| Structured Asset Mortgage Investments Trust, Series 2006-AR1, Class 3A1, 1 mo. USD LIBOR + .460% | ||||||||
| 5.610% FRN 2/25/36 | 1,378,145 | 1,120,808 | ||||||
| Washington Mutual Mortgage Pass-Through Certificates Trust | ||||||||
| Series 2006-AR12, Class 1A4, 3.816% VRN 10/25/36 (h) | 3,869,056 | 3,380,132 | ||||||
| Series 2005-AR2, Class 2A1A, 1 mo. USD LIBOR + .620% 5.770% FRN 1/25/45 | 452,666 | 440,364 | ||||||
| Series 2005-7, Class 4CB, 7.000% 8/25/35 | 2,414,586 | 1,878,441 | ||||||
| Wells Fargo Mortgage-Backed Securities Trust, Series 2007-AR3, Class A4, | ||||||||
| 4.628% VRN 4/25/37 (h) | 741,614 | 634,164 | ||||||
| 50,192,069 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $125,457,183) | 118,937,879 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 0.6% | ||||||||
| Brazilian Government International Bonds | ||||||||
| 3.875% 6/12/30 | 730,000 | 646,404 | ||||||
| Chile Government International Bonds | ||||||||
| 2.550% 1/27/32 (e) | 400,000 | 341,504 | ||||||
| Colombia Government International Bonds | ||||||||
| 4.500% 3/15/29 | 200,000 | 174,963 | ||||||
| Dominican Republic International Bonds | ||||||||
| 4.500% 1/30/30 (c) | 440,000 | 385,066 | ||||||
| Guatemala Government Bonds | ||||||||
| 3.700% 10/07/33 (c) | 300,000 | 241,502 | ||||||
| Hungary Government International Bonds | ||||||||
| 2.125% 9/22/31 (c) | 250,000 | 192,901 | ||||||
| 5.250% 6/16/29 (c) | 200,000 | 194,246 | ||||||
| Mexico Government International Bonds | ||||||||
| 2.659% 5/24/31 (e) | 413,000 | 343,329 | ||||||
| 4.750% 4/27/32 | 200,000 | 190,548 | ||||||
| Oman Government International Bonds | ||||||||
| 6.750% 10/28/27 (c) | 200,000 | 206,520 | ||||||
| Pakistan Government International Bonds | ||||||||
| 2.252% 9/29/32 (e) | 200,000 | 152,633 | ||||||
| 3.160% 1/23/30 | 425,000 | 371,664 | ||||||
| Paraguay Government International Bonds | ||||||||
| 4.950% 4/28/31 (c) | 200,000 | 191,782 | ||||||
| Peruvian Government International Bonds | ||||||||
| 2.844% 6/20/30 | 200,000 | 175,024 | ||||||
| 4.125% 8/25/27 | 254,000 | 246,743 | ||||||
| Poland Government International Bonds | ||||||||
| 4.875% 10/04/33 | 200,000 | 196,192 | ||||||
| 5.750% 11/16/32 | 43,000 | 45,064 | ||||||
| Romania Government International Bonds | ||||||||
| 3.000% 2/14/31 (c) | 270,000 | 223,476 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| South Africa Government International Bonds | ||||||||
| 5.875% 4/20/32 | $ | 200,000 | $ | 176,900 | ||||
| 4,696,461 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $5,245,264) | 4,696,461 | |||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (i) — 40.1% | ||||||||
| Collateralized Mortgage Obligations — 2.7% | ||||||||
| Federal Home Loan Banks | ||||||||
| 5.300% 5/22/24 | 8,450,000 | 8,411,279 | ||||||
| 5.370% 5/21/24 | 8,300,000 | 8,265,244 | ||||||
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K155, Class A3 3.750% 4/25/33 | 2,115,000 | 1,954,789 | ||||||
| Federal National Mortgage Association REMICS | ||||||||
| Series 2018-43, Class CT, 3.000% 6/25/48 | 537,042 | 481,014 | ||||||
| Series 2018-54, Class KA, 3.500% 1/25/47 | 377,465 | 362,908 | ||||||
| Series 2018-55, Class PA, 3.500% 1/25/47 | 391,709 | 376,602 | ||||||
| Series 2018-38, Class PA, 3.500% 6/25/47 | 610,217 | 576,066 | ||||||
| Government National Mortgage Association | ||||||||
| Series 2018-124, Class NW, 3.500% 9/20/48 | 511,104 | 471,072 | ||||||
| Series 2019-15, Class GT, 3.500% 2/20/49 | 538,875 | 498,376 | ||||||
| 21,397,350 | ||||||||
| Pass-Through Securities — 36.8% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #SD8193 2.000% 2/01/52 | 4,068,539 | 3,320,572 | ||||||
| Pool #SD8199 2.000% 3/01/52 | 2,152,670 | 1,756,247 | ||||||
| Pool #QE0312 2.000% 4/01/52 | 1,959,949 | 1,599,016 | ||||||
| Pool #SD8147 2.500% 5/01/51 (f) | 3,253,148 | 2,763,682 | ||||||
| Pool #SD8189 2.500% 1/01/52 | 2,311,617 | 1,961,646 | ||||||
| Pool #SD8194 2.500% 2/01/52 | 3,785,509 | 3,212,396 | ||||||
| Pool #SD8200 2.500% 3/01/52 | 2,268,941 | 1,925,431 | ||||||
| Pool #SD8205 2.500% 4/01/52 | 4,028,927 | 3,416,128 | ||||||
| Pool #SD8212 2.500% 5/01/52 | 3,932,907 | 3,334,713 | ||||||
| Pool #G18596 3.000% 4/01/31 | 223,783 | 213,134 | ||||||
| Pool #G18691 3.000% 6/01/33 | 82,765 | 78,387 | ||||||
| Pool #G08710 3.000% 6/01/46 | 54,957 | 49,307 | ||||||
| Pool #G08715 3.000% 8/01/46 | 1,176,095 | 1,055,185 | ||||||
| Pool #G08721 3.000% 9/01/46 | 158,584 | 142,281 | ||||||
| Pool #G08726 3.000% 10/01/46 | 2,122,822 | 1,904,583 | ||||||
| Pool #G08732 3.000% 11/01/46 | 1,503,972 | 1,346,534 | ||||||
| Pool #G08741 3.000% 1/01/47 | 1,021,517 | 914,584 | ||||||
| Pool #G18713 3.500% 11/01/33 | 616,456 | 590,794 | ||||||
| Pool #G16756 3.500% 1/01/34 | 246,242 | 235,838 | ||||||
| Pool #G60038 3.500% 1/01/44 | 523,248 | 488,096 | ||||||
| Pool #G07848 3.500% 4/01/44 | 4,064,559 | 3,790,057 | ||||||
| Pool #G07924 3.500% 1/01/45 | 1,107,605 | 1,031,862 | ||||||
| Pool #G60138 3.500% 8/01/45 | 2,327,648 | 2,178,657 | ||||||
| Pool #G08711 3.500% 6/01/46 | 903,607 | 837,578 | ||||||
| Pool #G08716 3.500% 8/01/46 | 1,296,365 | 1,200,422 | ||||||
| Pool #G67706 3.500% 12/01/47 | 1,283,708 | 1,195,922 | ||||||
| Pool #G08792 3.500% 12/01/47 | 1,096,646 | 1,013,770 | ||||||
| Pool #G67707 3.500% 1/01/48 | 1,510,817 | 1,412,694 | ||||||
| Pool #G67709 3.500% 3/01/48 | 3,630,095 | 3,377,315 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #G67711 4.000% 3/01/48 | $ | 413,362 | $ | 396,874 | ||||
| Pool #G67713 4.000% 6/01/48 | 1,078,306 | 1,034,286 | ||||||
| Pool #G67714 4.000% 7/01/48 | 1,492,167 | 1,432,185 | ||||||
| Pool #G67717 4.000% 11/01/48 | 1,329,359 | 1,275,921 | ||||||
| Pool #G08843 4.500% 10/01/48 | 481,364 | 470,379 | ||||||
| Pool #G08826 5.000% 6/01/48 | 155,135 | 154,711 | ||||||
| Pool #G08844 5.000% 10/01/48 | 53,698 | 53,532 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4093 2.000% 8/01/40 | 804,802 | 687,781 | ||||||
| Pool #MA4152 2.000% 10/01/40 | 3,029,645 | 2,589,122 | ||||||
| Pool #MA4176 2.000% 11/01/40 | 2,195,878 | 1,876,588 | ||||||
| Pool #MA4333 2.000% 5/01/41 | 655,919 | 557,676 | ||||||
| Pool #MA4158 2.000% 10/01/50 (f) | 2,882,948 | 2,363,753 | ||||||
| Pool #BT9728 2.000% 10/01/51 | 4,984,683 | 4,069,848 | ||||||
| Pool #BQ6913 2.000% 12/01/51 | 4,249,627 | 3,469,697 | ||||||
| Pool #CB2767 2.000% 1/01/52 | 4,105,449 | 3,355,828 | ||||||
| Pool #CB2766 2.000% 2/01/52 | 2,776,799 | 2,271,514 | ||||||
| Pool #FS1598 2.000% 4/01/52 | 4,133,267 | 3,372,108 | ||||||
| Pool #BL6060 2.455% 4/01/40 | 1,265,000 | 904,614 | ||||||
| Pool #MA4548 2.500% 2/01/52 | 3,813,858 | 3,236,453 | ||||||
| Pool #MA4563 2.500% 3/01/52 | 3,910,270 | 3,318,268 | ||||||
| Pool #MA3029 3.000% 6/01/32 | 222,850 | 211,153 | ||||||
| Pool #MA1607 3.000% 10/01/33 | 1,675,238 | 1,577,662 | ||||||
| Pool #BN7755 3.000% 9/01/49 | 1,730,138 | 1,546,642 | ||||||
| Pool #BO2259 3.000% 10/01/49 | 2,980,313 | 2,659,569 | ||||||
| Pool #MA3811 3.000% 10/01/49 | 466,599 | 408,509 | ||||||
| Pool #MA4579 3.000% 4/01/52 | 3,802,532 | 3,348,442 | ||||||
| Pool #AB4262 3.500% 1/01/32 | 1,154,679 | 1,103,692 | ||||||
| Pool #MA1148 3.500% 8/01/42 | 2,249,403 | 2,076,244 | ||||||
| Pool #CA0996 3.500% 1/01/48 | 77,924 | 72,315 | ||||||
| Pool #MA3276 3.500% 2/01/48 | 170,236 | 157,186 | ||||||
| Pool #MA3305 3.500% 3/01/48 | 575,079 | 530,635 | ||||||
| Pool #MA3332 3.500% 4/01/48 | 22,963 | 21,188 | ||||||
| Pool #CA3633 3.500% 6/01/49 | 661,887 | 613,683 | ||||||
| Pool #MA2995 4.000% 5/01/47 | 476,179 | 453,984 | ||||||
| Pool #MA3027 4.000% 6/01/47 | 441,737 | 421,010 | ||||||
| Pool #AS9830 4.000% 6/01/47 | 267,987 | 255,412 | ||||||
| Pool #AS9972 4.000% 7/01/47 | 247,274 | 235,671 | ||||||
| Pool #AL9106 4.500% 2/01/46 | 215,450 | 211,977 | ||||||
| Pool #CA1710 4.500% 5/01/48 | 867,711 | 848,301 | ||||||
| Pool #CA1711 4.500% 5/01/48 | 15,761 | 15,408 | ||||||
| Pool #CA2208 4.500% 8/01/48 | 620,713 | 605,858 | ||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA4126 3.000% 12/20/46 | 1,377,187 | 1,247,275 | ||||||
| Pool #MA4836 3.000% 11/20/47 | 972,654 | 879,991 | ||||||
| Pool #MA6209 3.000% 10/20/49 | 415,655 | 362,157 | ||||||
| Pool #MA4127 3.500% 12/20/46 | 938,706 | 879,688 | ||||||
| Pool #MA4382 3.500% 4/20/47 | 159,198 | 148,990 | ||||||
| Pool #MA4719 3.500% 9/20/47 | 1,397,316 | 1,306,408 | ||||||
| Pool #MA4837 3.500% 11/20/47 | 190,654 | 178,250 | ||||||
| Pool #MA4962 3.500% 1/20/48 | 475,451 | 444,518 | ||||||
| Pool #MA5019 3.500% 2/20/48 | 653,910 | 610,550 | ||||||
| Pool #MA4838 4.000% 11/20/47 | 400,044 | 383,740 | ||||||
| Pool #MA4901 4.000% 12/20/47 | 327,057 | 313,728 | ||||||
| Pool #MA5078 4.000% 3/20/48 | 266,416 | 255,309 | ||||||
| Pool #MA5466 4.000% 9/20/48 | 185,546 | 177,694 | ||||||
| Pool #MA5528 4.000% 10/20/48 | 743,752 | 712,279 | ||||||
| Pool #MA4264 4.500% 2/20/47 | 201,174 | 198,442 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA4512 4.500% 6/20/47 | $ | 1,230,989 | $ | 1,213,502 | ||||
| Pool #MA3666 5.000% 5/20/46 | 27,535 | 27,704 | ||||||
| Pool #MA3806 5.000% 7/20/46 | 186,177 | 187,222 | ||||||
| Pool #MA4072 5.000% 11/20/46 | 36,639 | 36,801 | ||||||
| Pool #MA4454 5.000% 5/20/47 | 661,060 | 665,692 | ||||||
| Government National Mortgage Association II TBA | ||||||||
| 2.500% 7/20/53 (f) | 11,675,000 | 10,103,780 | ||||||
| 4.500% 7/20/53 (f) | 4,000,000 | 3,859,458 | ||||||
| 5.000% 7/20/53 (f) | 1,825,000 | 1,793,143 | ||||||
| Uniform Mortgage-Backed Security TBA | ||||||||
| 2.000% 7/13/53 (f) | 4,875,000 | 3,972,571 | ||||||
| 2.000% 8/14/53 (f) | 24,425,000 | 19,934,132 | ||||||
| 2.500% 7/13/53 (f) | 18,875,000 | 15,995,823 | ||||||
| 2.500% 8/14/53 (f) | 4,675,000 | 3,967,540 | ||||||
| 3.000% 7/13/53 (f) | 19,375,000 | 17,046,970 | ||||||
| 3.000% 8/14/53 (f) | 6,400,000 | 5,637,999 | ||||||
| 3.500% 8/14/53 (f) | 9,500,000 | 8,662,812 | ||||||
| 4.000% 7/13/53 (f) | 14,900,000 | 13,979,223 | ||||||
| 4.500% 7/13/53 (f) | 17,325,000 | 16,648,247 | ||||||
| 4.500% 8/14/53 (f) | 12,775,000 | 12,283,965 | ||||||
| 5.000% 7/13/53 (f) | 27,350,000 | 26,795,522 | ||||||
| 5.500% 7/13/53 (f) | 16,350,000 | 16,271,430 | ||||||
| 287,795,065 | ||||||||
| Whole Loans — 0.6% | ||||||||
| Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes, Series 2022-DNA2, Class M1B, 30 day USD SOFR + 2.400% | ||||||||
| 7.467% FRN 2/25/42 (c) | 2,450,000 | 2,420,435 | ||||||
| Federal National Mortgage Association Connecticut Avenue Securities, Series 2022-R03, Class 1M2, 30 day USD SOFR + 3.500% | ||||||||
| 8.567% FRN 3/25/42 (c) | 2,400,000 | 2,451,908 | ||||||
| 4,872,343 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $325,392,740) | 314,064,758 | |||||||
| U.S. TREASURY OBLIGATIONS — 27.6% | ||||||||
| U.S. Treasury Bonds & Notes — 27.6% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 2.000% 11/15/41 | 23,557,000 | 17,223,253 | ||||||
| 2.375% 2/15/42 | 290,000 | 225,662 | ||||||
| 3.625% 5/15/53 | 18,745,000 | 18,031,850 | ||||||
| 3.875% 5/15/43 | 32,355,000 | 31,591,166 | ||||||
| U.S. Treasury Inflation Index | ||||||||
| 1.125% 1/15/33 | 5,671,653 | 5,432,657 | ||||||
| 1.250% 4/15/28 | 4,943,806 | 4,783,132 | ||||||
| U.S. Treasury Notes | ||||||||
| 3.375% 5/15/33 | 7,005,000 | 6,757,794 | ||||||
| 3.625% 5/31/28 | 10,901,000 | 10,660,323 | ||||||
| 4.000% 6/30/28 | 58,315,000 | 57,999,335 | ||||||
| 4.250% 5/31/25 | 4,827,000 | 4,765,876 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.625% 6/30/25 | $ | 59,185,000 | $ | 58,917,070 | ||||
| 216,388,118 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $219,679,628) | 216,388,118 | |||||||
| TOTAL BONDS & NOTES (Cost $938,081,223) | 896,573,578 | |||||||
| Number of Shares | ||||||||
| EQUITIES — 0.0% | ||||||||
| COMMON STOCK — 0.0% | ||||||||
| Communications — 0.0% | ||||||||
| Telecommunications — 0.0% | ||||||||
| Intelsat Emergence SA (j) | 16,754 | 356,860 | ||||||
| TOTAL COMMON STOCK (Cost $1,575,355) | 356,860 | |||||||
| TOTAL EQUITIES (Cost $1,575,355) | 356,860 | |||||||
| RIGHTS — 0.0% | ||||||||
| Communications — 0.0% | ||||||||
| Telecommunications — 0.0% | ||||||||
| Intelsat Jackson Holdings S.A. (b) (g) (j) | 1,754 | — | ||||||
| Intelsat Jackson Holdings S.A. (b) (g) (j) | 1,754 | — | ||||||
| — | ||||||||
| TOTAL RIGHTS (Cost $0) | — | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $939,656,578) | 896,930,438 | |||||||
| SHORT-TERM INVESTMENTS — 8.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.7% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (k) | 5,263,660 | 5,263,660 | ||||||
| Repurchase Agreement — 0.4% | Principal Amount | |||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (l) | $ | 2,750,308 | 2,750,308 | |||||
| U.S. Treasury Bill — 6.9% | ||||||||
| U.S. Treasury Bill | ||||||||
| 4.931% 10/05/23 (m) | 5,175,000 | 5,105,090 | ||||||
| 5.049% 11/02/23 (m) | 8,045,000 | 7,902,211 | ||||||
| 5.137% 8/31/23 (m) | 8,440,000 | 8,368,602 | ||||||
| 5.176% 10/26/23 (m) | 6,310,000 | 6,205,184 | ||||||
| 5.192% 8/15/23 (m) | 1,460,000 | 1,451,016 | ||||||
| 5.244% 8/24/23 (m) | 4,740,000 | 4,704,534 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5.331% 10/03/23 (m) | $ | 10,000,000 | $ | 9,867,359 | ||||
| 5.346% 11/02/23 (m) | 5,890,000 | 5,785,460 | ||||||
| 5.380% 12/21/23 (m) | 4,605,000 | 4,490,381 | ||||||
| 53,879,837 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $61,903,479) | 61,893,805 | |||||||
| TOTAL INVESTMENTS — 122.4% (Cost $1,001,560,057) (n) | 958,824,243 | |||||||
| Other Assets/(Liabilities) — (22.4)% | (175,593,568) | |||||||
| NET ASSETS — 100.0% | $ | 783,230,675 | ||||||
Abbreviation Legend
| CLO | Collateralized Loan Obligation |
| DIP | Debtor In Possession |
| FRN | Floating Rate Note |
| REMICS | Real Estate Mortgage Investment Conduits |
| 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) | All or a portion of the security represents unsettled bank loan commitments at June 30, 2023 where the rate will be determined at time of settlement. |
| (b) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $483,966 or 0.06% of net assets. |
| (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 June 30, 2023, the aggregate market value of these securities amounted to $159,674,056 or 20.39% of net assets. |
| (d) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (e) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $6,341,873 or 0.81% of net assets. The Fund received $1,220,928 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). |
| (f) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (g) | Investment is valued using significant unobservable inputs. |
| (h) | 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 June 30, 2023. |
| (i) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (j) | Non-income producing security. |
| (k) | Represents investment of security lending cash collateral. (Note 2). |
| (l) | Maturity value of $2,750,657. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $2,805,329. |
| (m) | The rate shown represents yield-to-maturity. |
| (n) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Citibank N.A. | 7/06/23 | EUR | 363,723 | USD | 396,071 | $ | 842 | |||||||||
| Citibank N.A. | 7/14/23 | EUR | 702,000 | USD | 775,471 | (9,119) | ||||||||||
| Citibank N.A. | 7/14/23 | USD | 546,421 | GBP | 437,000 | (8,600) | ||||||||||
| Citibank N.A. | 7/14/23 | USD | 6,056,236 | EUR | 5,538,000 | 10,571 | ||||||||||
| Goldman Sachs International | 7/14/23 | USD | 199,384 | GBP | 160,000 | (3,827) | ||||||||||
| $ | (10,133) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 43 | $ | 5,816,602 | $ | 40,804 | ||||||||
| U.S. Treasury Note 2 Year | 9/29/23 | 1,295 | 267,093,473 | (3,763,317) | ||||||||||
| U.S. Treasury Note 5 Year | 9/29/23 | 41 | 4,467,161 | (76,317) | ||||||||||
| $ | (3,798,830) | |||||||||||||
| Short | ||||||||||||||
| Euro-BOBL | 9/07/23 | 4 | $ | (512,814) | $ | 7,763 | ||||||||
| Euro-BUXL 30 Year Bond | 9/07/23 | 6 | (903,833) | (10,157) | ||||||||||
| Euro-Bund | 9/07/23 | 6 | (886,809) | 11,186 | ||||||||||
| U.S. Treasury Ultra 10 Year | 9/20/23 | 19 | (2,268,336) | 18,024 | ||||||||||
| $ | 26,816 | |||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Fixed 3.000% | Annually | 12- Month USD SOFR | Annually | 9/20/53 | USD | 2,447,000 | $ | 70,162 | $ | — | $ | 70,162 | ||||||||||||||||||||
| Fixed 3.000% | Annually | 12-Month USD SOFR | Annually | 9/20/53 | USD | 2,346,000 | 67,266 | — | 67,266 | |||||||||||||||||||||||
| $ | 137,428 | $ | — | $ | 137,428 | |||||||||||||||||||||||||||
Currency Legend
| EUR | Euro |
| GBP | British Pound |
| USD | U.S. Dollar |
| MassMutual Strategic Bond Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 98.7% | ||||||||
| BANK LOANS — 1.8% | ||||||||
| Advertising — 0.0% | ||||||||
| CMG Media Corp., 2021 Term Loan, 3 mo. USD Term SOFR + 3.500% | ||||||||
| 8.842% VRN 12/17/26 | $ | 105,393 | $ | 94,195 | ||||
| Airlines — 0.0% | ||||||||
| United Airlines, Inc., 2021 Term Loan B, 3 mo. USD LIBOR + 3.750% | ||||||||
| 9.292% VRN 4/21/28 | 64,545 | 64,420 | ||||||
| Auto Parts & Equipment — 0.0% | ||||||||
| Clarios Global LP, 2023 Incremental Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.852% VRN 5/06/30 | 70,000 | 69,759 | ||||||
| Beverages — 0.1% | ||||||||
| Triton Water Holdings, Inc., Term Loan, 3 mo. USD LIBOR + 0.000% | ||||||||
| 5.242% VRN 3/31/28 | 241,419 | 233,008 | ||||||
| Building Materials — 0.0% | ||||||||
| Quikrete Holdings, Inc., 2021 Term Loan B1, 1 mo. USD LIBOR + 3.000% | ||||||||
| 8.217% VRN 3/18/29 | 139,295 | 139,334 | ||||||
| Commercial Services — 0.1% | ||||||||
| API Group DE, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.584% VRN 10/01/26 | 136,238 | 136,314 | ||||||
| Emrld Borrower LP, Term Loan B, | ||||||||
| 0.000% 5/31/30 (a) | 150,000 | 149,859 | ||||||
| Prime Security Services Borrower LLC, 2021 Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
| 7.943% VRN 9/23/26 | 175,009 | 174,850 | ||||||
| 461,023 | ||||||||
| Computers — 0.1% | ||||||||
| Magenta Buyer LLC, 2021 USD 1st Lien Term Loan, 3 mo. USD LIBOR + 4.750% | ||||||||
| 10.030% VRN 7/27/28 | 242,827 | 182,018 | ||||||
| Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.952% VRN 2/01/28 | 322,542 | 316,266 | ||||||
| 498,284 | ||||||||
| Diversified Financial Services — 0.2% | ||||||||
| Avolon TLB Borrower 1 (U.S.) LLC, 2021 Term Loan B5, 1 mo. USD LIBOR + 2.250% | ||||||||
| 7.396% VRN 12/01/27 | 37,268 | 37,193 | ||||||
| Castlelake Aviation Ltd., Term Loan B, 3 mo. USD LIBOR + 2.750% | ||||||||
| 8.302% VRN 10/22/26 | 115,067 | 114,399 | ||||||
| Citadel Securities LP, 2021 Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.717% VRN 2/02/28 | 20,202 | 20,161 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 8.992% VRN 4/09/27 | $ | 227,032 | $ | 219,896 | ||||
| Focus Financial Partners LLC, 2022 Term Loan B5, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.352% VRN 6/30/28 | 119,100 | 118,041 | ||||||
| VFH Parent LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.189% VRN 1/13/29 | 108,900 | 108,322 | ||||||
| 618,012 | ||||||||
| Electronics — 0.0% | ||||||||
| II-VI, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.967% VRN 7/02/29 | 146,664 | 146,114 | ||||||
| Entertainment — 0.1% | ||||||||
| Caesars Entertainment Corp., Term Loan B, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.452% VRN 2/06/30 | 19,950 | 19,932 | ||||||
| PCI Gaming Authority, Term Loan, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.717% VRN 5/29/26 | 248,892 | 248,937 | ||||||
| Scientific Games International, Inc., 2022 USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.248% VRN 4/14/29 | 237,600 | 236,968 | ||||||
| 505,837 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.352% VRN 10/23/28 | 249,369 | 246,329 | ||||||
| Sotera Health Holdings LLC, 2021 Term Loan, 3 mo. USD LIBOR + 2.750% | ||||||||
| 8.023% VRN 12/11/26 | 260,000 | 255,614 | ||||||
| 501,943 | ||||||||
| Health Care – Services — 0.2% | ||||||||
| Global Medical Response, Inc., 2020 Term Loan B, 1 mo. USD LIBOR + 4.250% | ||||||||
| 9.439% VRN 10/02/25 | 379,108 | 211,163 | ||||||
| Phoenix Guarantor, Inc., 2020 Term Loan B, 1 mo. USD LIBOR + 3.250% | ||||||||
| 8.352% VRN 3/05/26 | 484,890 | 478,121 | ||||||
| 689,284 | ||||||||
| Housewares — 0.1% | ||||||||
| Solis IV BV, USD Term Loan B1, 3 mo. USD Term SOFR + 3.500% | ||||||||
| 8.666% VRN 2/26/29 | 317,225 | 300,076 | ||||||
| Insurance — 0.1% | ||||||||
| Acrisure LLC, 2021 First Lien Term Loan B, 1 mo. USD LIBOR + 4.250% | ||||||||
| 9.443% VRN 2/15/27 | 89,545 | 87,568 | ||||||
| AmWINS Group, Inc. | ||||||||
| 2021 Term Loan B, 1 mo. USD LIBOR + 2.250% | ||||||||
| 7.442% VRN 2/19/28 | 253,282 | 250,719 | ||||||
| 2023 Incremental Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.834% VRN 2/19/28 | 39,900 | 39,759 | ||||||
| 378,046 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Leisure Time — 0.1% | ||||||||
| Alterra Mountain Co., 2021 Series B-2 Consenting Term Loan, 1 mo. USD LIBOR + 3.500% | ||||||||
| 8.693% VRN 8/17/28 | $ | 164,935 | $ | 164,316 | ||||
| Lodging — 0.1% | ||||||||
| Hilton Domestic Operating Co., Inc., 2019 Term Loan B2, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.939% VRN 6/22/26 | 310,000 | 309,529 | ||||||
| Station Casinos LLC, 2020 Term Loan B, 1 mo. USD LIBOR + 2.250% | ||||||||
| 7.450% VRN 2/08/27 | 160,651 | 160,004 | ||||||
| 469,533 | ||||||||
| Machinery – Diversified — 0.0% | ||||||||
| Ali Group North America Corp., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.217% VRN 7/30/29 | 129,105 | 129,008 | ||||||
| Media — 0.1% | ||||||||
| Nexstar Broadcasting, Inc., 2019 Term Loan B4, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.717% VRN 9/18/26 | 160,766 | 160,478 | ||||||
| Virgin Media Bristol LLC, USD Term Loan N, 1 mo. USD LIBOR + 2.500% | ||||||||
| 7.693% VRN 1/31/28 | 203,954 | 201,966 | ||||||
| 362,444 | ||||||||
| Retail — 0.1% | ||||||||
| Harbor Freight Tools USA, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.967% VRN 10/19/27 | 441,157 | 434,601 | ||||||
| Software — 0.2% | ||||||||
| Athenahealth Group, Inc., 2021 Delayed Draw Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.589% VRN 2/15/29 | 336,110 | 323,086 | ||||||
| Cloudera, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.952% VRN 10/08/28 | 91,768 | 89,359 | ||||||
| DCert Buyer, Inc., 2019 Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.264% VRN 10/16/26 | 31,537 | 31,212 | ||||||
| Rackspace Technology Global, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 7.996% VRN 2/15/28 | 360,001 | 163,088 | ||||||
| 606,745 | ||||||||
| Transportation — 0.1% | ||||||||
| Genesee & Wyoming, Inc., Term Loan, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.342% VRN 12/30/26 | 471,367 | 470,632 | ||||||
| TOTAL BANK LOANS (Cost $7,832,110) | 7,336,614 | |||||||
| CORPORATE DEBT — 26.9% | ||||||||
| Aerospace & Defense — 0.8% | ||||||||
| Boeing Co. | ||||||||
| 2.196% 2/04/26 | 230,000 | 211,096 | ||||||
| 2.700% 2/01/27 | 90,000 | 82,261 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2.800% 3/01/27 | $ | 150,000 | $ | 136,759 | ||||
| 3.100% 5/01/26 | 80,000 | 75,154 | ||||||
| 3.200% 3/01/29 | 210,000 | 187,761 | ||||||
| 3.250% 2/01/35 | 360,000 | 291,898 | ||||||
| 3.550% 3/01/38 | 80,000 | 62,235 | ||||||
| 3.750% 2/01/50 | 240,000 | 180,256 | ||||||
| 5.150% 5/01/30 | 160,000 | 158,456 | ||||||
| 5.705% 5/01/40 | 110,000 | 109,726 | ||||||
| 5.805% 5/01/50 | 300,000 | 298,905 | ||||||
| 5.930% 5/01/60 | 40,000 | 39,616 | ||||||
| General Dynamics Corp. | ||||||||
| 3.500% 5/15/25 | 50,000 | 48,549 | ||||||
| 4.250% 4/01/40 | 20,000 | 18,401 | ||||||
| 4.250% 4/01/50 | 50,000 | 45,832 | ||||||
| L3Harris Technologies, Inc. | ||||||||
| 5.054% 4/27/45 | 50,000 | 45,910 | ||||||
| Lockheed Martin Corp. | ||||||||
| 3.550% 1/15/26 | 45,000 | 43,643 | ||||||
| 3.900% 6/15/32 | 50,000 | 47,089 | ||||||
| 4.150% 6/15/53 | 260,000 | 228,892 | ||||||
| 4.500% 5/15/36 | 60,000 | 57,909 | ||||||
| Northrop Grumman Corp. | ||||||||
| 2.930% 1/15/25 | 160,000 | 153,755 | ||||||
| 3.250% 1/15/28 | 290,000 | 270,448 | ||||||
| 5.250% 5/01/50 | 160,000 | 162,605 | ||||||
| Raytheon Technologies Corp. | ||||||||
| 2.250% 7/01/30 | 110,000 | 92,783 | ||||||
| 4.125% 11/16/28 | 160,000 | 154,102 | ||||||
| 4.500% 6/01/42 | 80,000 | 73,637 | ||||||
| 3,277,678 | ||||||||
| Agriculture — 0.4% | ||||||||
| Altria Group, Inc. | ||||||||
| 2.450% 2/04/32 | 140,000 | 109,179 | ||||||
| 4.400% 2/14/26 | 192,000 | 187,871 | ||||||
| 5.800% 2/14/39 | 160,000 | 156,612 | ||||||
| 5.950% 2/14/49 | 260,000 | 246,831 | ||||||
| 6.200% 2/14/59 | 56,000 | 54,051 | ||||||
| BAT Capital Corp. | ||||||||
| 3.557% 8/15/27 | 170,000 | 156,325 | ||||||
| 4.540% 8/15/47 | 360,000 | 264,913 | ||||||
| Cargill, Inc. | ||||||||
| 1.375% 7/23/23 (b) (c) | 180,000 | 179,642 | ||||||
| Philip Morris International, Inc. | ||||||||
| 2.100% 5/01/30 | 40,000 | 33,098 | ||||||
| 4.500% 3/20/42 | 80,000 | 68,956 | ||||||
| Reynolds American, Inc. | ||||||||
| 5.850% 8/15/45 | 110,000 | 97,824 | ||||||
| 1,555,302 | ||||||||
| Airlines — 0.5% | ||||||||
| Delta Air Lines, Inc. | ||||||||
| 2.900% 10/28/24 | 180,000 | 172,795 | ||||||
| 7.000% 5/01/25 (b) | 230,000 | 234,897 | ||||||
| Delta Air Lines, Inc./SkyMiles IP Ltd. | ||||||||
| 4.500% 10/20/25 (b) | 266,667 | 260,851 | ||||||
| 4.750% 10/20/28 (b) | 300,000 | 291,207 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. | ||||||||
| 5.750% 1/20/26 (b) | $ | 10,000 | $ | 9,465 | ||||
| Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. | ||||||||
| 6.500% 6/20/27 (b) | 264,000 | 264,659 | ||||||
| Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. | ||||||||
| 8.000% 9/20/25 (b) | 240,000 | 241,813 | ||||||
| 8.000% 9/20/25 (b) | 250,000 | 251,869 | ||||||
| United Airlines, Inc. | ||||||||
| 4.375% 4/15/26 (b) | 80,000 | 76,008 | ||||||
| 4.625% 4/15/29 (b) | 290,000 | 264,239 | ||||||
| 2,067,803 | ||||||||
| Apparel — 0.1% | ||||||||
| NIKE, Inc. | ||||||||
| 2.850% 3/27/30 | 170,000 | 153,507 | ||||||
| 3.250% 3/27/40 | 130,000 | 106,817 | ||||||
| 3.375% 3/27/50 (c) | 40,000 | 32,403 | ||||||
| 292,727 | ||||||||
| Auto Manufacturers — 1.5% | ||||||||
| Ford Motor Co. | ||||||||
| 4.750% 1/15/43 | 90,000 | 69,193 | ||||||
| 6.100% 8/19/32 (c) | 90,000 | 87,224 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 2.900% 2/16/28 | 390,000 | 333,995 | ||||||
| 3.625% 6/17/31 | 220,000 | 180,317 | ||||||
| 4.000% 11/13/30 | 200,000 | 170,917 | ||||||
| 4.125% 8/17/27 | 200,000 | 182,629 | ||||||
| 4.950% 5/28/27 | 250,000 | 235,822 | ||||||
| 5.125% 6/16/25 | 200,000 | 194,506 | ||||||
| General Motors Co. | ||||||||
| 5.150% 4/01/38 | 40,000 | 35,599 | ||||||
| 5.200% 4/01/45 | 960,000 | 818,902 | ||||||
| 5.600% 10/15/32 (c) | 40,000 | 38,699 | ||||||
| 5.950% 4/01/49 | 110,000 | 102,781 | ||||||
| 6.125% 10/01/25 | 20,000 | 20,136 | ||||||
| 6.600% 4/01/36 | 10,000 | 10,267 | ||||||
| Nissan Motor Co. Ltd. | ||||||||
| 3.043% 9/15/23 (b) | 200,000 | 198,585 | ||||||
| 3.522% 9/17/25 (b) | 410,000 | 381,429 | ||||||
| 4.345% 9/17/27 (b) | 300,000 | 272,852 | ||||||
| Toyota Motor Credit Corp. | ||||||||
| 4.450% 5/18/26 | 3,070,000 | 3,024,548 | ||||||
| 6,358,401 | ||||||||
| Banks — 7.2% | ||||||||
| ABN AMRO Bank NV | ||||||||
| 4.750% 7/28/25 (b) | 260,000 | 250,757 | ||||||
| Banco Santander SA | ||||||||
| 2.746% 5/28/25 | 600,000 | 563,277 | ||||||
| Bank of America Corp. | ||||||||
| SOFR + 1.210% 2.572% VRN 10/20/32 | 60,000 | 48,870 | ||||||
| SOFR + 2.150% 2.592% VRN 4/29/31 | 360,000 | 302,233 | ||||||
| SOFR + 1.330% 2.972% VRN 2/04/33 | 550,000 | 458,494 | ||||||
| 3 mo. USD Term SOFR + 1.302% 3.419% VRN 12/20/28 | 570,000 | 522,703 | ||||||
| 3 mo. USD Term SOFR + 1.632% 3.593% VRN 7/21/28 | 270,000 | 250,982 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29 | $ | 760,000 | $ | 711,534 | ||||
| 3 mo. USD Term SOFR + 1.472% 3.974% VRN 2/07/30 | 270,000 | 249,982 | ||||||
| 4.000% 4/01/24 | 270,000 | 266,842 | ||||||
| 4.000% 1/22/25 | 140,000 | 136,149 | ||||||
| 3 mo. USD Term SOFR + 3.412% 4.083% VRN 3/20/51 | 420,000 | 348,227 | ||||||
| 4.200% 8/26/24 | 380,000 | 372,874 | ||||||
| 4.250% 10/22/26 | 50,000 | 48,260 | ||||||
| 3 mo. USD Term SOFR + 1.782% 4.330% VRN 3/15/50 | 90,000 | 77,397 | ||||||
| SOFR + 1.580% 4.376% VRN 4/27/28 | 300,000 | 287,995 | ||||||
| 4.450% 3/03/26 | 50,000 | 48,596 | ||||||
| 5.000% 1/21/44 | 130,000 | 124,583 | ||||||
| 3 mo. USD Term SOFR + 3.967% 6.250% VRN (d) | 170,000 | 167,875 | ||||||
| Bank of Montreal | ||||||||
| 1.850% 5/01/25 | 70,000 | 65,391 | ||||||
| 5 yr. USD Swap + 1.432% 3.803% VRN 12/15/32 | 90,000 | 79,335 | ||||||
| Bank of New York Mellon Corp. | ||||||||
| 1.600% 4/24/25 | 170,000 | 159,288 | ||||||
| Bank of Nova Scotia | ||||||||
| 1.300% 6/11/25 | 120,000 | 110,312 | ||||||
| 5 yr. CMT + 2.050% 4.588% VRN 5/04/37 | 100,000 | 86,171 | ||||||
| Barclays PLC 3 mo. USD LIBOR + 3.054% | ||||||||
| 5.088% VRN 6/20/30 | 510,000 | 463,768 | ||||||
| BNP Paribas SA | ||||||||
| SOFR + 2.074% 2.219% VRN 6/09/26 (b) | 200,000 | 184,963 | ||||||
| 5 yr. USD Swap + 1.483% 4.375% VRN 3/01/33 (b) | 220,000 | 199,075 | ||||||
| 4.400% 8/14/28 (b) | 400,000 | 377,594 | ||||||
| 4.625% 3/13/27 (b) | 260,000 | 248,688 | ||||||
| 3 mo. USD LIBOR + 2.235% 4.705% VRN 1/10/25 (b) | 390,000 | 386,523 | ||||||
| 1 yr. CMT + 1.450% 5.125% VRN 1/13/29 (b) | 400,000 | 391,404 | ||||||
| Citigroup, Inc. | ||||||||
| SOFR + 2.107% 2.572% VRN 6/03/31 | 170,000 | 141,834 | ||||||
| SOFR + 1.939% 3.785% VRN 3/17/33 | 370,000 | 326,898 | ||||||
| 3 mo. USD Term SOFR + 1.600% 3.980% VRN 3/20/30 | 180,000 | 166,435 | ||||||
| 4.125% 7/25/28 | 150,000 | 141,385 | ||||||
| 4.300% 11/20/26 | 510,000 | 488,104 | ||||||
| SOFR + 3.914% 4.412% VRN 3/31/31 | 410,000 | 385,507 | ||||||
| 4.450% 9/29/27 | 480,000 | 458,318 | ||||||
| 4.650% 7/30/45 | 181,000 | 160,511 | ||||||
| 4.650% 7/23/48 | 70,000 | 63,365 | ||||||
| SOFR + 1.887% 4.658% VRN 5/24/28 | 50,000 | 48,753 | ||||||
| 4.750% 5/18/46 | 40,000 | 34,223 | ||||||
| SOFR + 2.086% 4.910% VRN 5/24/33 | 130,000 | 125,795 | ||||||
| 5.300% 5/06/44 | 16,000 | 14,794 | ||||||
| 3 mo. USD Term SOFR + 4.167% 5.950% VRN (d) | 150,000 | 143,854 | ||||||
| 3 mo. USD Term SOFR + 3.685% 6.300% VRN (c) (d) | 60,000 | 58,350 | ||||||
| 6.625% 6/15/32 | 20,000 | 21,162 | ||||||
| 8.125% 7/15/39 | 50,000 | 63,974 | ||||||
| 3 mo. USD Term SOFR + 4.068% 9.341% VRN (d) | 50,000 | 50,175 | ||||||
| Cooperatieve Rabobank UA | ||||||||
| 1 yr. CMT + 1.220% 3.649% VRN 4/06/28 (b) | 300,000 | 277,748 | ||||||
| 4.375% 8/04/25 | 470,000 | 453,615 | ||||||
| Credit Agricole SA SOFR + 1.676% | ||||||||
| 1.907% VRN 6/16/26 (b) | 270,000 | 248,540 | ||||||
| Credit Suisse AG | ||||||||
| 5.000% 7/09/27 | 250,000 | 241,348 | ||||||
| 7.950% 1/09/25 | 710,000 | 724,372 | ||||||
| Danske Bank AS | ||||||||
| 5.375% 1/12/24 (b) | 240,000 | 238,582 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Goldman Sachs Capital II 3 mo. USD LIBOR + .768% | ||||||||
| 6.264% VRN (d) | $ | 8,000 | $ | 6,220 | ||||
| Goldman Sachs Group, Inc. | ||||||||
| SOFR + 1.472% 2.908% VRN 7/21/42 | 80,000 | 56,480 | ||||||
| SOFR + 1.513% 3.210% VRN 4/22/42 | 40,000 | 29,553 | ||||||
| 3.500% 4/01/25 | 370,000 | 355,418 | ||||||
| 3.500% 11/16/26 | 200,000 | 187,501 | ||||||
| SOFR + 1.846% 3.615% VRN 3/15/28 | 50,000 | 46,914 | ||||||
| 3 mo. USD Term SOFR + 1.772% 3.691% VRN 6/05/28 | 350,000 | 328,840 | ||||||
| 3.850% 7/08/24 | 90,000 | 88,257 | ||||||
| 4.000% 3/03/24 | 100,000 | 98,717 | ||||||
| 3 mo. USD Term SOFR + 1.563% 4.223% VRN 5/01/29 | 490,000 | 462,800 | ||||||
| 4.250% 10/21/25 | 210,000 | 202,371 | ||||||
| 4.750% 10/21/45 | 80,000 | 72,716 | ||||||
| 5.150% 5/22/45 | 290,000 | 270,760 | ||||||
| 6.250% 2/01/41 | 130,000 | 139,735 | ||||||
| 6.750% 10/01/37 | 80,000 | 86,044 | ||||||
| HSBC Holdings PLC | ||||||||
| SOFR + 1.929% 2.099% VRN 6/04/26 | 510,000 | 471,931 | ||||||
| 3.900% 5/25/26 | 200,000 | 190,580 | ||||||
| 4.250% 8/18/25 | 330,000 | 316,947 | ||||||
| SOFR + 2.530% 4.762% VRN 3/29/33 | 200,000 | 180,496 | ||||||
| Intesa Sanpaolo SpA | ||||||||
| 5.017% 6/26/24 (b) | 900,000 | 871,769 | ||||||
| 5.710% 1/15/26 (b) | 200,000 | 190,406 | ||||||
| JP Morgan Chase & Co. | ||||||||
| SOFR + 1.850% 2.083% VRN 4/22/26 | 340,000 | 318,411 | ||||||
| SOFR + 2.040% 2.522% VRN 4/22/31 | 300,000 | 253,753 | ||||||
| SOFR + 1.180% 2.545% VRN 11/08/32 | 100,000 | 81,932 | ||||||
| SOFR + 2.440% 3.109% VRN 4/22/51 | 80,000 | 55,895 | ||||||
| 3 mo. USD Term SOFR + .945% 3.509% VRN 1/23/29 | 70,000 | 64,706 | ||||||
| 3.875% 9/10/24 | 300,000 | 292,888 | ||||||
| 3 mo. USD Term SOFR + 1.522% 4.203% VRN 7/23/29 | 310,000 | 294,644 | ||||||
| 4.250% 10/01/27 | 70,000 | 67,821 | ||||||
| 3 mo. USD Term SOFR + 1.592% 4.452% VRN 12/05/29 | 700,000 | 670,801 | ||||||
| 4.950% 6/01/45 | 140,000 | 130,678 | ||||||
| Lloyds Banking Group PLC | ||||||||
| 4.550% 8/16/28 | 370,000 | 350,043 | ||||||
| Macquarie Group Ltd. | ||||||||
| 6.207% 11/22/24 (b) | 2,020,000 | 2,017,505 | ||||||
| Mitsubishi UFJ Financial Group, Inc. 1 yr. CMT + 1.125% | ||||||||
| 3.837% VRN 4/17/26 | 200,000 | 192,236 | ||||||
| Morgan Stanley | ||||||||
| SOFR + 1.990% 2.188% VRN 4/28/26 | 260,000 | 244,064 | ||||||
| SOFR + 1.143% 2.699% VRN 1/22/31 | 10,000 | 8,505 | ||||||
| SOFR + 3.120% 3.622% VRN 4/01/31 | 640,000 | 576,698 | ||||||
| 3 mo. USD Term SOFR + 1.402% 3.772% VRN 1/24/29 | 350,000 | 326,751 | ||||||
| 3 mo. TSFR + 1.890% 4.431% VRN 1/23/30 | 10,000 | 9,514 | ||||||
| National Securities Clearing Corp. | ||||||||
| 1.500% 4/23/25 (b) | 250,000 | 232,458 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| SOFR + 1.841% 5.582% VRN 6/12/29 | 260,000 | 258,776 | ||||||
| SOFR + 1.322% 5.812% VRN 6/12/26 | 70,000 | 69,574 | ||||||
| Royal Bank of Canada | ||||||||
| 1.150% 6/10/25 | 250,000 | 230,776 | ||||||
| 3.875% 5/04/32 | 40,000 | 36,623 | ||||||
| Santander Holdings USA, Inc. | ||||||||
| 4.500% 7/17/25 | 50,000 | 48,532 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Toronto-Dominion Bank | ||||||||
| 1.150% 6/12/25 | $ | 280,000 | $ | 258,038 | ||||
| Truist Financial Corp. SOFR + 2.050% | ||||||||
| 6.047% VRN 6/08/27 | 130,000 | 130,054 | ||||||
| U.S. Bancorp | ||||||||
| 1.450% 5/12/25 | 260,000 | 242,456 | ||||||
| SOFR + .730% 2.215% VRN 1/27/28 | 30,000 | 26,595 | ||||||
| SOFR + 2.020% 5.775% VRN 6/12/29 | 140,000 | 139,958 | ||||||
| SOFR + 2.260% 5.836% VRN 6/12/34 | 50,000 | 50,362 | ||||||
| UBS Group AG | ||||||||
| SOFR + 2.044% 2.193% VRN 6/05/26 (b) | 480,000 | 440,145 | ||||||
| SOFR + 1.730% 3.091% VRN 5/14/32 (b) | 350,000 | 283,124 | ||||||
| SOFR + 3.730% 4.194% VRN 4/01/31 (b) | 250,000 | 222,515 | ||||||
| 4.253% 3/23/28 (b) | 340,000 | 315,509 | ||||||
| 5 yr. USD Swap + 4.344% 7.000% VRN (b) (d) | 500,000 | 482,824 | ||||||
| Wells Fargo & Co. | ||||||||
| SOFR + 2.000% 2.188% VRN 4/30/26 | 200,000 | 187,388 | ||||||
| SOFR + 2.100% 2.393% VRN 6/02/28 | 230,000 | 204,960 | ||||||
| 3 mo. USD Term SOFR + 1.432% 2.879% VRN 10/30/30 | 150,000 | 129,553 | ||||||
| 3.000% 10/23/26 | 350,000 | 324,892 | ||||||
| SOFR + 1.500% 3.350% VRN 3/02/33 | 300,000 | 256,756 | ||||||
| 4.300% 7/22/27 | 240,000 | 230,229 | ||||||
| 4.400% 6/14/46 | 180,000 | 146,178 | ||||||
| 3 mo. USD Term SOFR + 4.032% 4.478% VRN 4/04/31 | 210,000 | 199,668 | ||||||
| 4.650% 11/04/44 | 80,000 | 67,865 | ||||||
| 4.750% 12/07/46 | 10,000 | 8,512 | ||||||
| 4.900% 11/17/45 | 250,000 | 220,013 | ||||||
| 3 mo. USD Term SOFR + 4.502% 5.013% VRN 4/04/51 | 1,220,000 | 1,136,315 | ||||||
| 5.375% 11/02/43 | 110,000 | 103,562 | ||||||
| 5.875% VRN (c) (d) (e) | 50,000 | 48,995 | ||||||
| 30,412,289 | ||||||||
| Beverages — 0.4% | ||||||||
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 3.650% 2/01/26 | 300,000 | 290,570 | ||||||
| 4.900% 2/01/46 | 50,000 | 47,790 | ||||||
| Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 3.500% 6/01/30 | 130,000 | 120,885 | ||||||
| 4.000% 4/13/28 | 80,000 | 77,360 | ||||||
| 4.350% 6/01/40 | 30,000 | 27,586 | ||||||
| 4.600% 4/15/48 | 15,000 | 13,924 | ||||||
| 4.750% 1/23/29 | 190,000 | 189,175 | ||||||
| 5.550% 1/23/49 | 110,000 | 115,939 | ||||||
| Coca-Cola Co. | ||||||||
| 1.450% 6/01/27 | 250,000 | 223,418 | ||||||
| 2.500% 6/01/40 | 10,000 | 7,532 | ||||||
| 2.600% 6/01/50 | 80,000 | 55,871 | ||||||
| Constellation Brands, Inc. | ||||||||
| 3.600% 5/09/24 | 60,000 | 58,843 | ||||||
| 4.350% 5/09/27 | 80,000 | 78,009 | ||||||
| Molson Coors Beverage Co. | ||||||||
| 3.000% 7/15/26 | 50,000 | 46,705 | ||||||
| 4.200% 7/15/46 | 50,000 | 41,402 | ||||||
| PepsiCo, Inc. | ||||||||
| 1.625% 5/01/30 | 170,000 | 141,268 | ||||||
| 1,536,277 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Biotechnology — 0.0% | ||||||||
| Amgen, Inc. | ||||||||
| 4.663% 6/15/51 | $ | 24,000 | $ | 21,493 | ||||
| Gilead Sciences, Inc. | ||||||||
| 3.700% 4/01/24 | 130,000 | 128,124 | ||||||
| 4.500% 2/01/45 | 10,000 | 9,121 | ||||||
| 4.750% 3/01/46 | 40,000 | 37,647 | ||||||
| 196,385 | ||||||||
| Building Materials — 0.0% | ||||||||
| Builders FirstSource, Inc. | ||||||||
| 4.250% 2/01/32 (b) | 20,000 | 17,403 | ||||||
| Carrier Global Corp. | ||||||||
| 3.577% 4/05/50 | 20,000 | 14,780 | ||||||
| 32,183 | ||||||||
| Chemicals — 0.2% | ||||||||
| MEGlobal BV | ||||||||
| 4.250% 11/03/26 (b) | 230,000 | 220,449 | ||||||
| OCP SA | ||||||||
| 3.750% 6/23/31 (b) | 260,000 | 214,531 | ||||||
| 5.125% 6/23/51 (b) | 220,000 | 159,614 | ||||||
| Orbia Advance Corp. SAB de CV | ||||||||
| 2.875% 5/11/31 (b) | 490,000 | 388,992 | ||||||
| 983,586 | ||||||||
| Coal — 0.0% | ||||||||
| Teck Resources Ltd. | ||||||||
| 6.000% 8/15/40 | 20,000 | 19,485 | ||||||
| Commercial Services — 0.2% | ||||||||
| ADT Security Corp. | ||||||||
| 4.125% 8/01/29 (b) (c) | 10,000 | 8,637 | ||||||
| Cintas Corp. No. 2 | ||||||||
| 3.700% 4/01/27 | 160,000 | 154,182 | ||||||
| DP World Ltd. | ||||||||
| 5.625% 9/25/48 (b) | 330,000 | 307,761 | ||||||
| PayPal Holdings, Inc. | ||||||||
| 1.650% 6/01/25 | 260,000 | 243,309 | ||||||
| United Rentals North America, Inc. | ||||||||
| 3.750% 1/15/32 | 80,000 | 67,757 | ||||||
| 3.875% 11/15/27 | 60,000 | 56,028 | ||||||
| 3.875% 2/15/31 | 20,000 | 17,316 | ||||||
| 854,990 | ||||||||
| Computers — 0.4% | ||||||||
| Apple, Inc. | ||||||||
| 2.450% 8/04/26 | 290,000 | 271,470 | ||||||
| Dell International LLC/EMC Corp. | ||||||||
| 3.375% 12/15/41 (b) | 1,320,000 | 930,838 | ||||||
| International Business Machines Corp. | ||||||||
| 3.000% 5/15/24 | 320,000 | 312,745 | ||||||
| 1,515,053 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Cosmetics & Personal Care — 0.1% | ||||||||
| Haleon U.S. Capital LLC | ||||||||
| 3.375% 3/24/29 | $ | 260,000 | $ | 236,242 | ||||
| Kenvue, Inc. | ||||||||
| 4.900% 3/22/33 (b) | 200,000 | 202,363 | ||||||
| Procter & Gamble Co. | ||||||||
| 3.000% 3/25/30 | 100,000 | 92,527 | ||||||
| 531,132 | ||||||||
| Distribution & Wholesale — 0.0% | ||||||||
| H&E Equipment Services, Inc. | ||||||||
| 3.875% 12/15/28 (b) | 20,000 | 17,316 | ||||||
| Diversified Financial Services — 0.5% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 2.450% 10/29/26 | 320,000 | 285,808 | ||||||
| 3.000% 10/29/28 | 160,000 | 138,344 | ||||||
| 3.150% 2/15/24 | 190,000 | 186,386 | ||||||
| 3.300% 1/30/32 | 160,000 | 130,896 | ||||||
| Air Lease Corp. | ||||||||
| 3.375% 7/01/25 | 80,000 | 75,822 | ||||||
| 5.300% 2/01/28 | 130,000 | 127,565 | ||||||
| American Express Co. | ||||||||
| 3.375% 5/03/24 | 130,000 | 127,463 | ||||||
| 4.050% 5/03/29 | 210,000 | 199,924 | ||||||
| ILFC E-Capital Trust II | ||||||||
| 7.314% VRN 12/21/65 (b) (e) | 10,000 | 6,942 | ||||||
| Intercontinental Exchange, Inc. | ||||||||
| 4.600% 3/15/33 | 80,000 | 77,537 | ||||||
| 4.950% 6/15/52 | 20,000 | 18,973 | ||||||
| KKR Group Finance Co. II LLC | ||||||||
| 5.500% 2/01/43 (b) (c) | 20,000 | 18,244 | ||||||
| Mastercard, Inc. | ||||||||
| 3.850% 3/26/50 | 50,000 | 43,039 | ||||||
| Park Aerospace Holdings Ltd. | ||||||||
| 5.500% 2/15/24 (b) | 50,000 | 49,430 | ||||||
| Vanguard Group, Inc. | ||||||||
| 3.050% 8/22/50 | 450,000 | 290,372 | ||||||
| Visa, Inc. | ||||||||
| 3.150% 12/14/25 | 200,000 | 191,706 | ||||||
| 4.300% 12/14/45 | 160,000 | 148,444 | ||||||
| 2,116,895 | ||||||||
| Electric — 0.2% | ||||||||
| American Transmission Systems, Inc. | ||||||||
| 2.650% 1/15/32 (b) | 440,000 | 363,850 | ||||||
| Consolidated Edison Co. of New York, Inc. | ||||||||
| 3.350% 4/01/30 | 70,000 | 63,592 | ||||||
| 3.950% 4/01/50 | 50,000 | 40,859 | ||||||
| Duke Energy Ohio, Inc. | ||||||||
| 3.650% 2/01/29 | 210,000 | 195,047 | ||||||
| Exelon Corp. | ||||||||
| 5.625% 6/15/35 | 40,000 | 40,447 | ||||||
| Pacific Gas & Electric Co. | ||||||||
| 2.100% 8/01/27 | 140,000 | 119,586 | ||||||
| 2.500% 2/01/31 | 40,000 | 31,315 | ||||||
| 3.300% 8/01/40 | 50,000 | 33,686 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.500% 8/01/50 | $ | 80,000 | $ | 50,888 | ||||
| 939,270 | ||||||||
| Electronics — 0.0% | ||||||||
| Honeywell International, Inc. | ||||||||
| 1.350% 6/01/25 | 80,000 | 74,634 | ||||||
| Entertainment — 0.2% | ||||||||
| Warnermedia Holdings, Inc. | ||||||||
| 3.755% 3/15/27 | 60,000 | 55,966 | ||||||
| 4.054% 3/15/29 | 80,000 | 73,130 | ||||||
| 4.279% 3/15/32 | 360,000 | 319,275 | ||||||
| 5.050% 3/15/42 | 20,000 | 16,857 | ||||||
| 5.141% 3/15/52 | 370,000 | 301,272 | ||||||
| 6.412% 3/15/26 | 110,000 | 110,091 | ||||||
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | ||||||||
| 7.125% 2/15/31 (b) (c) | 90,000 | 89,455 | ||||||
| 966,046 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Republic Services, Inc. | ||||||||
| 2.500% 8/15/24 | 230,000 | 221,873 | ||||||
| Food — 0.2% | ||||||||
| Danone SA | ||||||||
| 2.589% 11/02/23 (b) | 310,000 | 306,761 | ||||||
| Hershey Co. | ||||||||
| 0.900% 6/01/25 | 50,000 | 46,039 | ||||||
| Mars, Inc. | ||||||||
| 2.700% 4/01/25 (b) | 140,000 | 133,735 | ||||||
| 3.200% 4/01/30 (b) | 80,000 | 72,568 | ||||||
| Mondelez International, Inc. | ||||||||
| 1.500% 5/04/25 | 340,000 | 316,881 | ||||||
| 875,984 | ||||||||
| Forest Products & Paper — 0.1% | ||||||||
| Suzano Austria GmbH | ||||||||
| 3.125% 1/15/32 | 80,000 | 64,031 | ||||||
| 3.750% 1/15/31 | 430,000 | 366,972 | ||||||
| 431,003 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Abbott Laboratories | ||||||||
| 3.750% 11/30/26 | 99,000 | 96,520 | ||||||
| 4.750% 11/30/36 | 80,000 | 80,316 | ||||||
| 4.900% 11/30/46 | 100,000 | 100,963 | ||||||
| Medtronic, Inc. | ||||||||
| 4.625% 3/15/45 | 18,000 | 17,513 | ||||||
| 295,312 | ||||||||
| Health Care – Services — 0.4% | ||||||||
| Centene Corp. | ||||||||
| 2.625% 8/01/31 | 10,000 | 7,969 | ||||||
| 3.000% 10/15/30 | 10,000 | 8,333 | ||||||
| 4.250% 12/15/27 | 70,000 | 65,447 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.625% 12/15/29 | $ | 120,000 | $ | 110,452 | ||||
| CommonSpirit Health | ||||||||
| 4.350% 11/01/42 | 20,000 | 17,172 | ||||||
| Elevance Health, Inc. | ||||||||
| 3.350% 12/01/24 | 120,000 | 116,025 | ||||||
| 3.650% 12/01/27 | 90,000 | 84,970 | ||||||
| 4.100% 5/15/32 | 60,000 | 55,910 | ||||||
| 4.550% 5/15/52 | 10,000 | 8,932 | ||||||
| Fresenius Medical Care U.S. Finance II, Inc. | ||||||||
| 4.750% 10/15/24 (b) | 70,000 | 68,524 | ||||||
| HCA, Inc. | ||||||||
| 3.500% 9/01/30 | 70,000 | 61,358 | ||||||
| 4.500% 2/15/27 | 40,000 | 38,587 | ||||||
| 5.000% 3/15/24 | 50,000 | 49,679 | ||||||
| 5.250% 6/15/26 | 60,000 | 59,344 | ||||||
| 5.500% 6/15/47 | 80,000 | 75,351 | ||||||
| Humana, Inc. | ||||||||
| 2.150% 2/03/32 | 40,000 | 31,510 | ||||||
| 4.500% 4/01/25 | 50,000 | 49,069 | ||||||
| 4.625% 12/01/42 | 70,000 | 61,701 | ||||||
| 4.800% 3/15/47 | 10,000 | 9,046 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 4.375% 1/15/30 | 10,000 | 9,024 | ||||||
| UnitedHealth Group, Inc. | ||||||||
| 1.250% 1/15/26 | 50,000 | 45,679 | ||||||
| 2.300% 5/15/31 | 20,000 | 16,911 | ||||||
| 3.125% 5/15/60 | 30,000 | 20,906 | ||||||
| 3.875% 12/15/28 | 110,000 | 105,379 | ||||||
| 3.875% 8/15/59 | 90,000 | 73,156 | ||||||
| 4.000% 5/15/29 | 100,000 | 95,566 | ||||||
| 4.200% 5/15/32 | 70,000 | 66,826 | ||||||
| 4.250% 6/15/48 | 110,000 | 96,957 | ||||||
| 4.450% 12/15/48 | 50,000 | 45,552 | ||||||
| 5.800% 3/15/36 | 70,000 | 74,829 | ||||||
| 1,630,164 | ||||||||
| Home Builders — 0.0% | ||||||||
| Lennar Corp. | ||||||||
| 4.500% 4/30/24 | 100,000 | 99,144 | ||||||
| 4.750% 11/29/27 | 40,000 | 38,810 | ||||||
| MDC Holdings, Inc. | ||||||||
| 6.000% 1/15/43 | 20,000 | 18,039 | ||||||
| 155,993 | ||||||||
| Insurance — 1.0% | ||||||||
| Berkshire Hathaway Finance Corp. | ||||||||
| 4.250% 1/15/49 | 160,000 | 145,705 | ||||||
| Brighthouse Financial, Inc. | ||||||||
| 4.700% 6/22/47 | 11,000 | 8,418 | ||||||
| Chubb INA Holdings, Inc. | ||||||||
| 3.350% 5/03/26 | 120,000 | 115,290 | ||||||
| Guardian Life Global Funding | ||||||||
| 1.100% 6/23/25 (b) | 120,000 | 109,137 | ||||||
| Jackson National Life Global Funding SOFR + 1.150% | ||||||||
| 6.242% FRN 6/28/24 (b) | 3,450,000 | 3,454,485 | ||||||
| MetLife Capital Trust IV | ||||||||
| 7.875% 12/15/67 (b) | 200,000 | 209,348 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| New York Life Global Funding | ||||||||
| 0.950% 6/24/25 (b) | $ | 100,000 | $ | 91,327 | ||||
| Principal Life Global Funding II | ||||||||
| 1.250% 6/23/25 (b) | 110,000 | 100,351 | ||||||
| Teachers Insurance & Annuity Association of America | ||||||||
| 4.900% 9/15/44 (b) | 50,000 | 45,272 | ||||||
| 6.850% 12/16/39 (b) | 22,000 | 24,257 | ||||||
| 4,303,590 | ||||||||
| Internet — 0.5% | ||||||||
| Alphabet, Inc. | ||||||||
| 0.450% 8/15/25 | 50,000 | 45,773 | ||||||
| 1.900% 8/15/40 | 100,000 | 68,871 | ||||||
| 2.050% 8/15/50 | 60,000 | 37,534 | ||||||
| Amazon.com, Inc. | ||||||||
| 2.100% 5/12/31 | 80,000 | 67,281 | ||||||
| 2.500% 6/03/50 | 60,000 | 39,900 | ||||||
| 3.150% 8/22/27 | 470,000 | 442,204 | ||||||
| 3.450% 4/13/29 | 80,000 | 75,319 | ||||||
| 3.600% 4/13/32 | 320,000 | 298,356 | ||||||
| 4.050% 8/22/47 | 100,000 | 89,696 | ||||||
| 4.250% 8/22/57 | 70,000 | 62,964 | ||||||
| 4.950% 12/05/44 | 180,000 | 182,143 | ||||||
| Prosus NV | ||||||||
| 3.061% 7/13/31 (b) | 370,000 | 289,268 | ||||||
| 3.832% 2/08/51 (b) | 210,000 | 129,019 | ||||||
| 4.027% 8/03/50 (b) | 310,000 | 194,778 | ||||||
| 2,023,106 | ||||||||
| Investment Companies — 0.3% | ||||||||
| Golub Capital BDC, Inc. | ||||||||
| 2.500% 8/24/26 | 1,570,000 | 1,357,733 | ||||||
| Iron & Steel — 0.1% | ||||||||
| ArcelorMittal SA | ||||||||
| 7.000% STEP 10/15/39 | 60,000 | 62,631 | ||||||
| Vale Overseas Ltd. | ||||||||
| 6.875% 11/21/36 | 174,000 | 181,959 | ||||||
| 244,590 | ||||||||
| Leisure Time — 0.0% | ||||||||
| VOC Escrow Ltd. | ||||||||
| 5.000% 2/15/28 (b) | 210,000 | 192,675 | ||||||
| Lodging — 0.4% | ||||||||
| Las Vegas Sands Corp. | ||||||||
| 2.900% 6/25/25 | 100,000 | 93,962 | ||||||
| 3.200% 8/08/24 | 790,000 | 765,169 | ||||||
| Sands China Ltd. | ||||||||
| 4.300% STEP 1/08/26 | 280,000 | 263,273 | ||||||
| 5.625% STEP 8/08/25 | 750,000 | 731,713 | ||||||
| 1,854,117 | ||||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Vertiv Group Corp. | ||||||||
| 4.125% 11/15/28 (b) | 30,000 | 27,029 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Machinery – Diversified — 0.1% | ||||||||
| Deere & Co. | ||||||||
| 3.100% 4/15/30 | $ | 60,000 | $ | 54,851 | ||||
| 3.750% 4/15/50 (c) | 260,000 | 230,149 | ||||||
| Otis Worldwide Corp. | ||||||||
| 2.056% 4/05/25 | 140,000 | 131,934 | ||||||
| 416,934 | ||||||||
| Media — 1.2% | ||||||||
| Altice Financing SA | ||||||||
| 5.750% 8/15/29 (b) | 210,000 | 162,679 | ||||||
| CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
| 4.500% 8/15/30 (b) | 30,000 | 24,981 | ||||||
| 4.500% 5/01/32 | 840,000 | 670,704 | ||||||
| 4.750% 2/01/32 (b) | 70,000 | 57,084 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 3.500% 3/01/42 | 60,000 | 40,134 | ||||||
| 4.200% 3/15/28 | 140,000 | 131,246 | ||||||
| 4.400% 4/01/33 (c) | 140,000 | 122,886 | ||||||
| 4.800% 3/01/50 | 30,000 | 22,635 | ||||||
| 4.908% 7/23/25 | 270,000 | 264,775 | ||||||
| 5.050% 3/30/29 | 360,000 | 343,284 | ||||||
| 5.125% 7/01/49 | 100,000 | 78,672 | ||||||
| 5.375% 4/01/38 | 100,000 | 85,190 | ||||||
| 5.375% 5/01/47 | 20,000 | 16,531 | ||||||
| 5.500% 4/01/63 | 80,000 | 64,411 | ||||||
| 6.484% 10/23/45 | 160,000 | 150,419 | ||||||
| 6.834% 10/23/55 | 60,000 | 56,564 | ||||||
| Comcast Corp. | ||||||||
| 2.800% 1/15/51 | 30,000 | 19,858 | ||||||
| 2.887% 11/01/51 | 260,000 | 174,319 | ||||||
| 3.150% 3/01/26 | 280,000 | 268,196 | ||||||
| 3.250% 11/01/39 | 30,000 | 23,797 | ||||||
| 3.300% 4/01/27 | 120,000 | 113,483 | ||||||
| 3.400% 4/01/30 | 180,000 | 165,385 | ||||||
| 3.400% 7/15/46 | 30,000 | 22,767 | ||||||
| 3.450% 2/01/50 | 40,000 | 30,443 | ||||||
| 3.750% 4/01/40 | 80,000 | 67,403 | ||||||
| 3.969% 11/01/47 | 80,000 | 66,258 | ||||||
| 3.999% 11/01/49 | 20,000 | 16,507 | ||||||
| 4.000% 8/15/47 | 20,000 | 16,666 | ||||||
| 4.000% 3/01/48 | 50,000 | 41,667 | ||||||
| 4.150% 10/15/28 | 180,000 | 174,398 | ||||||
| 4.250% 10/15/30 | 190,000 | 182,968 | ||||||
| 4.250% 1/15/33 | 20,000 | 18,999 | ||||||
| 4.950% 10/15/58 | 10,000 | 9,601 | ||||||
| 6.500% 11/15/35 | 41,000 | 45,900 | ||||||
| CSC Holdings LLC | ||||||||
| 4.125% 12/01/30 (b) | 210,000 | 146,900 | ||||||
| 4.500% 11/15/31 (b) | 200,000 | 139,443 | ||||||
| 6.500% 2/01/29 (b) | 250,000 | 202,009 | ||||||
| DISH DBS Corp. | ||||||||
| 5.250% 12/01/26 (b) | 120,000 | 96,261 | ||||||
| 5.750% 12/01/28 (b) | 120,000 | 89,254 | ||||||
| Fox Corp. | ||||||||
| 5.476% 1/25/39 | 90,000 | 84,070 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Time Warner Cable Enterprises LLC | ||||||||
| 8.375% 7/15/33 | $ | 20,000 | $ | 21,969 | ||||
| Time Warner Cable LLC | ||||||||
| 6.550% 5/01/37 | 50,000 | 47,934 | ||||||
| 6.750% 6/15/39 | 120,000 | 115,329 | ||||||
| 7.300% 7/01/38 | 100,000 | 101,907 | ||||||
| Virgin Media Secured Finance PLC | ||||||||
| 5.500% 5/15/29 (b) (c) | 210,000 | 189,956 | ||||||
| Walt Disney Co. | ||||||||
| 6.200% 12/15/34 | 20,000 | 21,967 | ||||||
| 6.650% 11/15/37 | 50,000 | 57,812 | ||||||
| 5,065,621 | ||||||||
| Mining — 0.6% | ||||||||
| Anglo American Capital PLC | ||||||||
| 4.750% 4/10/27 (b) | 230,000 | 222,281 | ||||||
| Barrick North America Finance LLC | ||||||||
| 5.700% 5/30/41 | 80,000 | 81,056 | ||||||
| 5.750% 5/01/43 | 80,000 | 82,180 | ||||||
| BHP Billiton Finance USA Ltd. | ||||||||
| 5.000% 9/30/43 | 100,000 | 100,033 | ||||||
| First Quantum Minerals Ltd. | ||||||||
| 6.875% 10/15/27 (b) | 230,000 | 224,365 | ||||||
| 8.625% 6/01/31 (b) | 200,000 | 204,976 | ||||||
| Freeport-McMoRan, Inc. | ||||||||
| 4.550% 11/14/24 | 10,000 | 9,857 | ||||||
| 4.625% 8/01/30 | 120,000 | 113,070 | ||||||
| 5.450% 3/15/43 | 416,000 | 387,896 | ||||||
| Glencore Funding LLC | ||||||||
| 3.875% 10/27/27 (b) | 90,000 | 83,999 | ||||||
| 4.000% 3/27/27 (b) | 270,000 | 257,336 | ||||||
| 4.125% 3/12/24 (b) | 130,000 | 128,431 | ||||||
| Southern Copper Corp. | ||||||||
| 5.250% 11/08/42 | 450,000 | 430,450 | ||||||
| 2,325,930 | ||||||||
| Miscellaneous - Manufacturing — 0.1% | ||||||||
| 3M Co. | ||||||||
| 2.375% 8/26/29 (c) | 140,000 | 120,235 | ||||||
| 3.050% 4/15/30 (c) | 60,000 | 54,061 | ||||||
| 3.700% 4/15/50 (c) | 150,000 | 118,702 | ||||||
| Eaton Corp. | ||||||||
| 4.150% 11/02/42 | 40,000 | 35,584 | ||||||
| 328,582 | ||||||||
| Oil & Gas — 2.6% | ||||||||
| BP Capital Markets America, Inc. | ||||||||
| 3.000% 2/24/50 | 320,000 | 223,008 | ||||||
| 3.119% 5/04/26 | 270,000 | 257,001 | ||||||
| 3.588% 4/14/27 | 100,000 | 95,630 | ||||||
| 3.633% 4/06/30 | 120,000 | 111,520 | ||||||
| Chevron Corp. | ||||||||
| 1.995% 5/11/27 | 110,000 | 99,885 | ||||||
| 3.078% 5/11/50 | 20,000 | 14,887 | ||||||
| Chevron USA, Inc. | ||||||||
| 3.850% 1/15/28 | 170,000 | 165,804 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| ConocoPhillips Co. | ||||||||
| 6.950% 4/15/29 | $ | 75,000 | $ | 82,501 | ||||
| Continental Resources, Inc. | ||||||||
| 2.268% 11/15/26 (b) | 70,000 | 62,315 | ||||||
| 4.375% 1/15/28 | 130,000 | 122,082 | ||||||
| 5.750% 1/15/31 (b) | 240,000 | 228,158 | ||||||
| Coterra Energy, Inc. | ||||||||
| 3.900% 5/15/27 | 310,000 | 292,195 | ||||||
| 4.375% 3/15/29 | 220,000 | 205,269 | ||||||
| Devon Energy Corp. | ||||||||
| 4.750% 5/15/42 | 10,000 | 8,429 | ||||||
| 5.000% 6/15/45 | 410,000 | 355,481 | ||||||
| 5.250% 10/15/27 | 32,000 | 31,517 | ||||||
| 5.600% 7/15/41 | 140,000 | 131,764 | ||||||
| 5.850% 12/15/25 | 120,000 | 120,910 | ||||||
| 5.875% 6/15/28 | 26,000 | 25,911 | ||||||
| 7.875% 9/30/31 | 330,000 | 374,479 | ||||||
| 8.250% 8/01/23 | 30,000 | 30,016 | ||||||
| Diamondback Energy, Inc. | ||||||||
| 3.250% 12/01/26 | 10,000 | 9,395 | ||||||
| 3.500% 12/01/29 | 160,000 | 144,019 | ||||||
| 6.250% 3/15/33 | 1,620,000 | 1,675,838 | ||||||
| Ecopetrol SA | ||||||||
| 5.875% 5/28/45 | 770,000 | 527,554 | ||||||
| EOG Resources, Inc. | ||||||||
| 3.900% 4/01/35 | 200,000 | 179,372 | ||||||
| 4.150% 1/15/26 | 70,000 | 68,513 | ||||||
| 4.375% 4/15/30 | 60,000 | 58,670 | ||||||
| 4.950% 4/15/50 | 150,000 | 148,030 | ||||||
| EQT Corp. | ||||||||
| 3.900% 10/01/27 | 280,000 | 258,865 | ||||||
| 6.125% STEP 2/01/25 | 12,000 | 11,933 | ||||||
| 7.000% STEP 2/01/30 | 50,000 | 52,351 | ||||||
| Exxon Mobil Corp. | ||||||||
| 2.992% 3/19/25 | 260,000 | 250,482 | ||||||
| 3.043% 3/01/26 | 130,000 | 124,257 | ||||||
| 3.482% 3/19/30 | 190,000 | 178,205 | ||||||
| 4.114% 3/01/46 | 200,000 | 175,906 | ||||||
| 4.327% 3/19/50 | 20,000 | 18,120 | ||||||
| Hess Corp. | ||||||||
| 7.300% 8/15/31 | 210,000 | 230,277 | ||||||
| 7.875% 10/01/29 | 110,000 | 121,234 | ||||||
| KazMunayGas National Co. JSC | ||||||||
| 5.375% 4/24/30 (b) | 200,000 | 185,502 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 4.400% 4/15/46 | 40,000 | 30,891 | ||||||
| 4.625% 6/15/45 | 80,000 | 61,896 | ||||||
| 6.600% 3/15/46 (c) | 630,000 | 648,616 | ||||||
| Petrobras Global Finance BV | ||||||||
| 5.999% 1/27/28 (c) | 780,000 | 778,709 | ||||||
| Petroleos Mexicanos | ||||||||
| 6.375% 1/23/45 | 220,000 | 135,124 | ||||||
| 6.625% 6/15/35 | 303,000 | 211,291 | ||||||
| 6.875% 8/04/26 | 160,000 | 149,440 | ||||||
| Pioneer Natural Resources Co. | ||||||||
| 1.125% 1/15/26 | 40,000 | 36,020 | ||||||
| 2.150% 1/15/31 | 190,000 | 155,536 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Reliance Industries Ltd. | ||||||||
| 3.625% 1/12/52 (b) | $ | 330,000 | $ | 235,118 | ||||
| Shell International Finance BV | ||||||||
| 2.750% 4/06/30 | 160,000 | 142,866 | ||||||
| 2.875% 5/10/26 | 130,000 | 123,811 | ||||||
| 3.250% 4/06/50 | 230,000 | 171,093 | ||||||
| 4.000% 5/10/46 | 180,000 | 152,871 | ||||||
| 4.550% 8/12/43 | 70,000 | 64,703 | ||||||
| Sinopec Group Overseas Development Ltd. | ||||||||
| 4.375% 4/10/24 (b) | 330,000 | 326,413 | ||||||
| Southwestern Energy Co. | ||||||||
| 4.750% 2/01/32 | 60,000 | 52,880 | ||||||
| 5.375% 3/15/30 | 20,000 | 18,664 | ||||||
| 10,953,227 | ||||||||
| Oil & Gas Services — 0.0% | ||||||||
| Halliburton Co. | ||||||||
| 3.800% 11/15/25 | 2,000 | 1,931 | ||||||
| 4.850% 11/15/35 | 20,000 | 18,833 | ||||||
| 5.000% 11/15/45 | 110,000 | 99,529 | ||||||
| Schlumberger Holdings Corp. | ||||||||
| 3.900% 5/17/28 (b) | 31,000 | 29,209 | ||||||
| 149,502 | ||||||||
| Packaging & Containers — 0.0% | ||||||||
| Ball Corp. | ||||||||
| 3.125% 9/15/31 (c) | 100,000 | 82,257 | ||||||
| Pharmaceuticals — 1.4% | ||||||||
| AbbVie, Inc. | ||||||||
| 2.600% 11/21/24 | 290,000 | 278,247 | ||||||
| 2.950% 11/21/26 | 260,000 | 242,904 | ||||||
| 3.200% 11/21/29 | 540,000 | 488,309 | ||||||
| 3.600% 5/14/25 | 130,000 | 125,671 | ||||||
| 3.800% 3/15/25 | 180,000 | 175,000 | ||||||
| 4.250% 11/21/49 | 20,000 | 17,263 | ||||||
| 4.550% 3/15/35 | 90,000 | 85,705 | ||||||
| 4.875% 11/14/48 | 20,000 | 18,900 | ||||||
| Becton Dickinson & Co. | ||||||||
| 3.363% 6/06/24 | 82,000 | 80,214 | ||||||
| 4.685% 12/15/44 | 18,000 | 16,318 | ||||||
| Bristol-Myers Squibb Co. | ||||||||
| 2.900% 7/26/24 | 206,000 | 200,601 | ||||||
| 3.200% 6/15/26 | 204,000 | 195,231 | ||||||
| 3.400% 7/26/29 | 19,000 | 17,648 | ||||||
| Cigna Group | ||||||||
| 3.750% 7/15/23 | 161,000 | 160,855 | ||||||
| 4.125% 11/15/25 | 100,000 | 97,350 | ||||||
| 4.375% 10/15/28 | 160,000 | 154,712 | ||||||
| 4.800% 8/15/38 | 190,000 | 179,362 | ||||||
| 4.900% 12/15/48 | 100,000 | 93,067 | ||||||
| CVS Health Corp. | ||||||||
| 1.875% 2/28/31 | 30,000 | 23,828 | ||||||
| 2.125% 9/15/31 | 140,000 | 112,423 | ||||||
| 3.750% 4/01/30 | 150,000 | 137,592 | ||||||
| 4.125% 4/01/40 | 120,000 | 101,127 | ||||||
| 4.250% 4/01/50 | 30,000 | 24,850 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.300% 3/25/28 | $ | 168,000 | $ | 162,022 | ||||
| 5.050% 3/25/48 | 280,000 | 258,088 | ||||||
| 5.125% 7/20/45 | 100,000 | 92,513 | ||||||
| CVS Pass-Through Trust | ||||||||
| 5.880% 1/10/28 | 51,973 | 50,935 | ||||||
| 6.036% 12/10/28 | 49,131 | 48,726 | ||||||
| 6.943% 1/10/30 | 46,778 | 47,669 | ||||||
| Johnson & Johnson | ||||||||
| 0.950% 9/01/27 | 40,000 | 34,968 | ||||||
| 3.625% 3/03/37 | 180,000 | 161,976 | ||||||
| Merck & Co., Inc. | ||||||||
| 0.750% 2/24/26 | 200,000 | 180,723 | ||||||
| 1.450% 6/24/30 | 120,000 | 97,848 | ||||||
| 2.750% 12/10/51 | 200,000 | 137,947 | ||||||
| Pfizer, Inc. | ||||||||
| 1.700% 5/28/30 | 250,000 | 207,419 | ||||||
| Teva Pharmaceutical Finance Netherlands BV | ||||||||
| 7.125% 1/31/25 (c) | 390,000 | 395,238 | ||||||
| Teva Pharmaceutical Finance Netherlands III BV | ||||||||
| 3.150% 10/01/26 | 900,000 | 806,441 | ||||||
| 6.000% 4/15/24 | 213,000 | 211,613 | ||||||
| 5,921,303 | ||||||||
| Pipelines — 1.5% | ||||||||
| Cameron LNG LLC | ||||||||
| 2.902% 7/15/31 (b) | 40,000 | 34,445 | ||||||
| 3.302% 1/15/35 (b) | 130,000 | 108,369 | ||||||
| Cheniere Energy Partners LP | ||||||||
| 3.250% 1/31/32 | 170,000 | 139,850 | ||||||
| El Paso Natural Gas Co. LLC | ||||||||
| 8.375% 6/15/32 (c) | 289,000 | 330,830 | ||||||
| Energy Transfer LP | ||||||||
| 2.900% 5/15/25 | 170,000 | 161,072 | ||||||
| 3.750% 5/15/30 | 410,000 | 369,946 | ||||||
| 4.950% 6/15/28 | 50,000 | 48,499 | ||||||
| 5.250% 4/15/29 | 80,000 | 78,099 | ||||||
| 5.300% 4/01/44 | 20,000 | 17,321 | ||||||
| 5.400% 10/01/47 | 40,000 | 35,255 | ||||||
| 6.100% 2/15/42 | 140,000 | 132,335 | ||||||
| 6.250% 4/15/49 | 230,000 | 224,636 | ||||||
| 5 yr. CMT + 5.694% 6.500% VRN (d) | 50,000 | 45,416 | ||||||
| 5 yr. CMT + 5.134% 6.750% VRN (d) | 160,000 | 142,403 | ||||||
| 5 yr. CMT + 5.306% 7.125% VRN (d) | 150,000 | 127,188 | ||||||
| 3 mo. USD LIBOR + 4.028% 9.349% VRN (c) (d) | 20,000 | 17,950 | ||||||
| Enterprise Products Operating LLC | ||||||||
| 3.700% 1/31/51 | 260,000 | 198,909 | ||||||
| 4.150% 10/16/28 | 900,000 | 860,424 | ||||||
| 3 mo. TSFR + 2.832 5.375% VRN 2/15/78 | 40,000 | 33,091 | ||||||
| 5.700% 2/15/42 | 40,000 | 40,645 | ||||||
| EQM Midstream Partners LP | ||||||||
| 5.500% 7/15/28 | 10,000 | 9,462 | ||||||
| Kinder Morgan Energy Partners LP | ||||||||
| 5.500% 3/01/44 | 30,000 | 27,341 | ||||||
| Kinder Morgan, Inc. | ||||||||
| 4.300% 3/01/28 | 110,000 | 105,132 | ||||||
| 5.200% 3/01/48 | 20,000 | 17,512 | ||||||
| MPLX LP | ||||||||
| 4.500% 4/15/38 | 70,000 | 60,251 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.700% 4/15/48 | $ | 210,000 | $ | 172,361 | ||||
| 4.800% 2/15/29 | 190,000 | 183,230 | ||||||
| 4.875% 12/01/24 | 90,000 | 88,700 | ||||||
| 5.500% 2/15/49 | 60,000 | 54,372 | ||||||
| Southern Natural Gas Co. LLC | ||||||||
| 8.000% 3/01/32 | 148,000 | 170,036 | ||||||
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. | ||||||||
| 6.000% 12/31/30 (b) | 10,000 | 8,810 | ||||||
| Targa Resources Corp. | ||||||||
| 4.200% 2/01/33 | 60,000 | 53,108 | ||||||
| 4.950% 4/15/52 | 40,000 | 33,049 | ||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
| 4.875% 2/01/31 | 130,000 | 120,138 | ||||||
| Tennessee Gas Pipeline Co. LLC | ||||||||
| 2.900% 3/01/30 (b) | 160,000 | 136,636 | ||||||
| Transcontinental Gas Pipe Line Co. LLC | ||||||||
| 7.850% 2/01/26 | 60,000 | 62,822 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875% 11/01/33 (b) | 80,000 | 65,511 | ||||||
| Western Midstream Operating LP | ||||||||
| 3.350% STEP 2/01/25 | 240,000 | 229,411 | ||||||
| 4.300% STEP 2/01/30 | 850,000 | 763,171 | ||||||
| 5.500% 8/15/48 | 20,000 | 16,725 | ||||||
| 5.500% STEP 2/01/50 | 230,000 | 188,386 | ||||||
| Williams Cos., Inc. | ||||||||
| 3.750% 6/15/27 | 90,000 | 84,933 | ||||||
| 7.500% 1/15/31 | 200,000 | 219,585 | ||||||
| 7.750% 6/15/31 | 350,000 | 387,198 | ||||||
| 6,404,563 | ||||||||
| Real Estate Investment Trusts (REITS) — 0.4% | ||||||||
| CTR Partnership LP/CareTrust Capital Corp. | ||||||||
| 3.875% 6/30/28 (b) | 20,000 | 17,200 | ||||||
| Equinix, Inc. | ||||||||
| 2.500% 5/15/31 | 1,641,000 | 1,336,094 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 5.250% 6/01/25 | 10,000 | 9,785 | ||||||
| 5.375% 4/15/26 | 40,000 | 39,157 | ||||||
| WEA Finance LLC/Westfield U.K. & Europe Finance PLC | ||||||||
| 3.750% 9/17/24 (b) | 220,000 | 207,749 | ||||||
| 1,609,985 | ||||||||
| Retail — 0.9% | ||||||||
| Costco Wholesale Corp. | ||||||||
| 1.375% 6/20/27 | 190,000 | 167,749 | ||||||
| 1.600% 4/20/30 | 110,000 | 91,577 | ||||||
| Home Depot, Inc. | ||||||||
| 2.700% 4/15/30 | 70,000 | 62,191 | ||||||
| 3.300% 4/15/40 | 120,000 | 97,443 | ||||||
| 3.350% 4/15/50 | 190,000 | 144,996 | ||||||
| 3.900% 12/06/28 | 30,000 | 29,042 | ||||||
| 3.900% 6/15/47 | 40,000 | 33,994 | ||||||
| Lowe's Cos., Inc. | ||||||||
| 4.500% 4/15/30 | 50,000 | 48,607 | ||||||
| 5.625% 4/15/53 (c) | 2,341,000 | 2,339,597 | ||||||
| McDonald's Corp. | ||||||||
| 3.300% 7/01/25 | 60,000 | 57,840 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.500% 7/01/27 | $ | 100,000 | $ | 95,198 | ||||
| 3.600% 7/01/30 | 190,000 | 176,765 | ||||||
| 3.625% 9/01/49 | 40,000 | 31,545 | ||||||
| 3.800% 4/01/28 | 110,000 | 105,404 | ||||||
| 4.200% 4/01/50 | 140,000 | 121,094 | ||||||
| Target Corp. | ||||||||
| 2.250% 4/15/25 | 110,000 | 104,758 | ||||||
| Walmart, Inc. | ||||||||
| 1.500% 9/22/28 | 80,000 | 69,467 | ||||||
| 1.800% 9/22/31 | 40,000 | 33,211 | ||||||
| 3,810,478 | ||||||||
| Semiconductors — 0.4% | ||||||||
| Broadcom, Inc. | ||||||||
| 3.137% 11/15/35 (b) | 490,000 | 375,852 | ||||||
| Intel Corp. | ||||||||
| 1.600% 8/12/28 | 130,000 | 111,900 | ||||||
| 3.050% 8/12/51 | 90,000 | 60,314 | ||||||
| 3.700% 7/29/25 | 40,000 | 38,900 | ||||||
| 4.750% 3/25/50 | 20,000 | 18,077 | ||||||
| 5.125% 2/10/30 | 100,000 | 100,614 | ||||||
| Micron Technology, Inc. | ||||||||
| 5.875% 2/09/33 | 130,000 | 129,350 | ||||||
| 5.875% 9/15/33 | 30,000 | 29,728 | ||||||
| NVIDIA Corp. | ||||||||
| 2.850% 4/01/30 | 90,000 | 81,614 | ||||||
| 3.500% 4/01/40 | 240,000 | 205,462 | ||||||
| 3.500% 4/01/50 | 100,000 | 81,263 | ||||||
| 3.700% 4/01/60 | 170,000 | 140,155 | ||||||
| NXP BV/NXP Funding LLC/NXP USA, Inc. | ||||||||
| 2.700% 5/01/25 | 120,000 | 113,731 | ||||||
| Texas Instruments, Inc. | ||||||||
| 1.750% 5/04/30 | 110,000 | 92,375 | ||||||
| 1,579,335 | ||||||||
| Software — 0.4% | ||||||||
| Microsoft Corp. | ||||||||
| 2.400% 8/08/26 | 530,000 | 497,402 | ||||||
| 2.525% 6/01/50 | 133,000 | 92,002 | ||||||
| 2.921% 3/17/52 | 107,000 | 79,605 | ||||||
| 3.041% 3/17/62 | 83,000 | 60,523 | ||||||
| 3.300% 2/06/27 | 210,000 | 201,946 | ||||||
| Open Text Holdings, Inc. | ||||||||
| 4.125% 2/15/30 (b) | 10,000 | 8,468 | ||||||
| 4.125% 12/01/31 (b) (c) | 10,000 | 8,197 | ||||||
| Oracle Corp. | ||||||||
| 1.650% 3/25/26 | 240,000 | 217,812 | ||||||
| 2.875% 3/25/31 | 310,000 | 264,651 | ||||||
| 2.950% 4/01/30 | 20,000 | 17,457 | ||||||
| 4.650% 5/06/30 | 100,000 | 96,620 | ||||||
| Salesforce, Inc. | ||||||||
| 3.700% 4/11/28 | 50,000 | 48,217 | ||||||
| 1,592,900 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Telecommunications — 1.3% | ||||||||
| AT&T, Inc. | ||||||||
| 1.650% 2/01/28 | $ | 250,000 | $ | 214,856 | ||||
| 2.250% 2/01/32 | 20,000 | 15,886 | ||||||
| 2.300% 6/01/27 | 250,000 | 224,840 | ||||||
| 2.550% 12/01/33 | 120,000 | 94,257 | ||||||
| 3.500% 9/15/53 | 180,000 | 127,425 | ||||||
| 3.550% 9/15/55 | 323,000 | 226,121 | ||||||
| 3.650% 9/15/59 | 60,000 | 41,773 | ||||||
| 3.800% 12/01/57 | 10,000 | 7,240 | ||||||
| 4.350% 6/15/45 | 101,000 | 84,640 | ||||||
| 5.350% 9/01/40 | 40,000 | 38,664 | ||||||
| 5.550% 8/15/41 | 40,000 | 39,474 | ||||||
| Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC | ||||||||
| 4.738% 9/20/29 (b) | 90,236 | 89,058 | ||||||
| T-Mobile USA, Inc. | ||||||||
| 2.250% 2/15/26 | 70,000 | 64,320 | ||||||
| 2.250% 11/15/31 | 70,000 | 56,003 | ||||||
| 2.550% 2/15/31 | 130,000 | 108,057 | ||||||
| 2.625% 2/15/29 | 170,000 | 147,650 | ||||||
| 2.875% 2/15/31 | 170,000 | 143,694 | ||||||
| 3.000% 2/15/41 | 60,000 | 43,867 | ||||||
| 3.300% 2/15/51 | 20,000 | 14,030 | ||||||
| 3.375% 4/15/29 | 70,000 | 63,213 | ||||||
| 3.500% 4/15/25 | 350,000 | 336,503 | ||||||
| 3.500% 4/15/31 | 380,000 | 335,311 | ||||||
| 3.750% 4/15/27 | 50,000 | 47,330 | ||||||
| 3.875% 4/15/30 | 190,000 | 175,041 | ||||||
| Telefonica Emisiones SA | ||||||||
| 5.213% 3/08/47 | 150,000 | 130,461 | ||||||
| Verizon Communications, Inc. | ||||||||
| 1.750% 1/20/31 | 280,000 | 220,902 | ||||||
| 2.355% 3/15/32 | 40,000 | 32,171 | ||||||
| 2.550% 3/21/31 | 420,000 | 350,672 | ||||||
| 2.650% 11/20/40 | 260,000 | 180,855 | ||||||
| 2.875% 11/20/50 | 470,000 | 306,199 | ||||||
| 3.400% 3/22/41 | 40,000 | 30,872 | ||||||
| 3.850% 11/01/42 | 40,000 | 32,356 | ||||||
| 3.875% 2/08/29 | 130,000 | 121,925 | ||||||
| 4.000% 3/22/50 | 120,000 | 97,364 | ||||||
| 4.125% 8/15/46 | 180,000 | 147,960 | ||||||
| 4.329% 9/21/28 | 440,000 | 424,162 | ||||||
| 4.400% 11/01/34 | 270,000 | 249,203 | ||||||
| 4.500% 8/10/33 | 40,000 | 37,746 | ||||||
| 5.250% 3/16/37 | 170,000 | 168,337 | ||||||
| 5.500% 3/16/47 | 30,000 | 30,015 | ||||||
| Vmed O2 U.K. Financing I PLC | ||||||||
| 4.750% 7/15/31 (b) | 200,000 | 166,300 | ||||||
| 5,466,753 | ||||||||
| Transportation — 0.1% | ||||||||
| Union Pacific Corp. | ||||||||
| 2.150% 2/05/27 | 50,000 | 45,662 | ||||||
| 2.891% 4/06/36 | 270,000 | 215,267 | ||||||
| 3.750% 7/15/25 | 70,000 | 67,944 | ||||||
| 3.750% 2/05/70 | 150,000 | 113,453 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.839% 3/20/60 | $ | 120,000 | $ | 95,455 | ||||
| 537,781 | ||||||||
| TOTAL CORPORATE DEBT (Cost $123,981,865) | 113,605,772 | |||||||
| MUNICIPAL OBLIGATIONS — 0.0% | ||||||||
| State of California, General Obligation | ||||||||
| 5.000% 11/01/43 | 50,000 | 50,217 | ||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $50,018) | 50,217 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 6.1% | ||||||||
| Automobile Asset-Backed Securities — 0.1% | ||||||||
| Avis Budget Rental Car Funding AESOP LLC, Series 2021-1A, Class A | ||||||||
| 1.380% 8/20/27 (b) | 490,000 | 431,170 | ||||||
| Commercial Mortgage-Backed Securities — 2.4% | ||||||||
| Banc of America Merrill Lynch Trust, Series 2016-GG10, Class AJA, | ||||||||
| 5.814% VRN 8/10/45 (b) (e) | 379,765 | 91,143 | ||||||
| Bank | ||||||||
| Series 2017-BNK4, Class XA, 1.500% VRN 5/15/50 (e) | 3,016,198 | 115,309 | ||||||
| Series 2017-BNK8, Class A3, 3.229% 11/15/50 | 266,500 | 243,084 | ||||||
| Series 2022-BNK40, Class A4, 3.507% VRN 3/15/64 (e) | 270,000 | 233,877 | ||||||
| Benchmark Mortgage Trust | ||||||||
| Series 2021-B29, Class XA, 1.148% VRN 9/15/54 (e) | 2,502,320 | 129,266 | ||||||
| Series 2019-B13, Class A3, 2.701% 8/15/57 | 290,000 | 246,618 | ||||||
| BPR Trust, Series 2021-TY, Class A, 1 mo. USD LIBOR + 1.050% | ||||||||
| 6.243% FRN 9/15/38 (b) | 140,000 | 132,900 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2021-VINO, Class A, 1 mo. USD LIBOR + .652% 5.845% FRN 5/15/38 (b) | 830,000 | 808,232 | ||||||
| Series 2021-21M, Class A, 1 mo. USD LIBOR + .730% 5.923% FRN 10/15/36 (b) | 722,661 | 699,866 | ||||||
| Series 2023-VLT2, Class E, 1 mo. USD Term SOFR + 5.871% 11.018% FRN 6/15/40 (b) | 490,000 | 487,634 | ||||||
| BX Trust, Series 2021-LBA, Class AV, 1 mo. USD Term SOFR + .914% | ||||||||
| 6.062% FRN 2/15/36 (b) | 250,000 | 241,879 | ||||||
| Cantor Commercial Real Estate Lending, Series 2019-CF1, Class A2 | ||||||||
| 3.623% 5/15/52 | 260,000 | 253,255 | ||||||
| Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class B, | ||||||||
| 4.175% VRN 7/10/47 (e) | 350,000 | 325,232 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2014-USA, Class A2, 3.953% 9/15/37 (b) | 190,000 | 163,787 | ||||||
| Series 2014-USA, Class E, 4.373% 9/15/37 (b) | 140,000 | 73,632 | ||||||
| Series 2014-USA, Class F, 4.373% 9/15/37 (b) | 2,440,000 | 981,904 | ||||||
| Series 2022-MARK, Class A, 1 mo. USD Term SOFR + 2.695% 7.842% FRN 6/15/39 (b) | 130,000 | 129,312 | ||||||
| Series 2017-CHOP, Class G, 1 mo. USD LIBOR + 5.350% 10.543% FRN 7/15/32 (b) | 750,000 | 676,409 | ||||||
| Deutsche Bank Commercial Mortgage Trust, Series 2016-C3, Class A4 | ||||||||
| 2.632% 8/10/49 | 125,983 | 113,510 | ||||||
| GS Mortgage Securities Corp. Trust, Series 2018-SRP5, Class A, 1 mo. USD LIBOR + 1.800% | ||||||||
| 6.993% FRN 9/15/31 (b) | 1,211,658 | 1,013,127 | ||||||
| JPMBB Commercial Mortgage Securities Trust | ||||||||
| Series 2014-C19, Class XA, 0.719% VRN 4/15/47 (e) | 769,085 | 2,439 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2015-C31, Class B, 4.776% VRN 8/15/48 (e) | $ | 160,000 | $ | 138,595 | ||||
| Series 2013-C17, Class B, 5.048% VRN 1/15/47 (e) | 30,000 | 26,926 | ||||||
| LAQ Mortgage Trust, Series 2023-LAQ, Class A, 1 mo. USD Term SOFR + 2.091% | ||||||||
| 7.238% FRN 3/15/36 (b) | 121,978 | 121,447 | ||||||
| ML-CFC Commercial Mortgage Trust, Series 2007-9, Class AJ, | ||||||||
| 6.193% VRN 9/12/49 (e) | 2,891 | 2,799 | ||||||
| MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, 1 mo. USD Term SOFR + 1.397% | ||||||||
| 6.544% FRN 3/15/39 (b) | 190,000 | 186,458 | ||||||
| PFP Ltd., Series 2021-8, Class A, 1 mo. USD LIBOR + 1.000% | ||||||||
| 6.158% FRN 8/09/37 (b) | 454,697 | 441,908 | ||||||
| Shops at Crystals Trust, Series 2016-CSTL, Class A | ||||||||
| 3.126% 7/05/36 (b) | 320,000 | 287,389 | ||||||
| TTAN, Series 2021-MHC, Class A, 1 mo. USD LIBOR + .850% | ||||||||
| 6.044% FRN 3/15/38 (b) | 411,094 | 401,854 | ||||||
| UBS Commercial Mortgage Trust, Series 2017-C1, Class A4 | ||||||||
| 3.460% 6/15/50 | 170,000 | 154,799 | ||||||
| Waterfall Commercial Mortgage Trust, Series 2015-SBC5, Class A, | ||||||||
| 4.104% VRN 9/14/22 (b) (e) | 28,754 | 28,140 | ||||||
| Wells Fargo Commercial Mortgage Trust | ||||||||
| Series 2019-C52, Class XA, 1.749% VRN 8/15/52 (e) | 5,507,365 | 357,003 | ||||||
| Series 2017-C42, Class D, 2.800% VRN 12/15/50 (b) (e) | 710,000 | 449,625 | ||||||
| Series 2013-LC12, Class B, 4.435% VRN 7/15/46 (e) | 140,000 | 104,131 | ||||||
| WFRBS Commercial Mortgage Trust | ||||||||
| Series 2014-C24, Class B, 4.204% VRN 11/15/47 (e) | 190,000 | 173,268 | ||||||
| Series 2014-C24, Class C, 4.290% VRN 11/15/47 (e) | 190,000 | 162,707 | ||||||
| 10,199,464 | ||||||||
| Home Equity Asset-Backed Securities — 0.3% | ||||||||
| Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2003-HE6, Class A3B, 1 mo. USD LIBOR + .960% | ||||||||
| 6.110% FRN 11/25/33 | 1,192,719 | 1,155,667 | ||||||
| GSAA Home Equity Trust, Series 2006-5, Class 2A3, 1 mo. USD LIBOR + .540% | ||||||||
| 5.690% FRN 3/25/36 | 302,746 | 151,342 | ||||||
| 1,307,009 | ||||||||
| Manufactured Housing Asset-Backed Securities — 0.1% | ||||||||
| Conseco Finance Corp., Series 1996-4, Class M1, | ||||||||
| 7.750% VRN 6/15/27 (e) | 352,493 | 348,965 | ||||||
| Other Asset-Backed Securities — 1.1% | ||||||||
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class A, 1 mo. USD LIBOR + 1.070% | ||||||||
| 6.263% FRN 8/15/34 (b) | 790,000 | 770,766 | ||||||
| Credit Suisse European Mortgage Capital Ltd., Series 2019-1OTF, Class A1, 3 mo. USD LIBOR + 2.900% | ||||||||
| 8.199% FRN 8/09/24 (b) | 930,000 | 898,337 | ||||||
| Dividend Solar Loans LLC, Series 2019-1, Class A | ||||||||
| 3.670% 8/22/39 (b) | 693,097 | 601,097 | ||||||
| InStar Leasing III LLC, Series 2021-1A, Class A | ||||||||
| 2.300% 2/15/54 (b) | 559,030 | 464,760 | ||||||
| ITE Rail Fund Levered LP, Series 2021-1A, Class A | ||||||||
| 2.250% 2/28/51 (b) | 696,199 | 591,173 | ||||||
| Mosaic Solar Loans LLC, Series 2021-3A, Class B | ||||||||
| 1.920% 6/20/52 (b) | 755,167 | 581,977 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Structured Asset Investment Loan Trust, Series 2004-8, Class A9, 1 mo. USD LIBOR + 1.000% | ||||||||
| 6.150% FRN 9/25/34 | $ | 539,466 | $ | 530,546 | ||||
| U.S. Small Business Administration | ||||||||
| Series 2019-25G, Class 1, 2.690% 7/01/44 | 193,952 | 167,720 | ||||||
| Series 2019-20D, Class 1, 2.980% 4/01/39 | 129,874 | 117,875 | ||||||
| 4,724,251 | ||||||||
| Student Loans Asset-Backed Securities — 0.3% | ||||||||
| College Ave Student Loans LLC, Series 2019-A, Class A2 | ||||||||
| 3.280% 12/28/48 (b) | 229,541 | 208,076 | ||||||
| Navient Private Education Refi Loan Trust, Series 2020-IA, Class A1A | ||||||||
| 1.330% 4/15/69 (b) | 345,019 | 301,525 | ||||||
| SMB Private Education Loan Trust | ||||||||
| Series 2020-A, Class A2A, 2.230% 9/15/37 (b) | 382,938 | 349,386 | ||||||
| Series 2021-A, Class B, 2.310% 1/15/53 (b) | 600,000 | 539,577 | ||||||
| 1,398,564 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 1.7% | ||||||||
| Bear Stearns Asset -Backed Securities I Trust, Series 2005-AC8, Class A3, 1 mo. USD LIBOR + 7.650% | ||||||||
| 2.500% FRN 11/25/35 | 628,165 | 111,973 | ||||||
| BRAVO Residential Funding Trust, Series 2022-NQM3, Class A1, | ||||||||
| 5.108% VRN 7/25/62 (b) (e) | 317,970 | 313,475 | ||||||
| Citigroup Mortgage Loan Trust, Series 2007-6, Class 2A4, 1 mo. USD LIBOR + .350% | ||||||||
| 5.500% FRN 5/25/37 | 1,258,721 | 697,789 | ||||||
| Credit Suisse Mortgage Trust, Series 2015-4R, Class 3A3, 1 mo. USD LIBOR + .310% | ||||||||
| 4.106% FRN 10/27/36 (b) | 666,285 | 308,844 | ||||||
| GS Mortgage Securities Trust, Series 2014-2R, Class 3B | ||||||||
| 5.748% 11/26/37 (b) | 1,220,000 | 1,014,600 | ||||||
| GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3, | ||||||||
| 4.000% VRN 10/25/35 (e) | 44,574 | 24,129 | ||||||
| HarborView Mortgage Loan Trust, Series 2006-2, Class 1A, | ||||||||
| 4.720% VRN 2/25/36 (e) | 27,306 | 9,595 | ||||||
| HOMES Trust, Series 2023-NQM1, Class A1, | ||||||||
| 6.182% STEP 1/25/68 (b) | 495,906 | 490,928 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2018-3, Class A1, 3.500% VRN 9/25/48 (b) (e) | 234,027 | 205,827 | ||||||
| Series 2018-4, Class A1, 3.500% VRN 10/25/48 (b) (e) | 100,442 | 88,406 | ||||||
| New Residential Mortgage Loan Trust | ||||||||
| Series 2018-RPL1, Class M2, 3.500% VRN 12/25/57 (b) (e) | 730,000 | 608,175 | ||||||
| Series 2017-4A, Class A1, 4.000% VRN 5/25/57 (b) (e) | 206,237 | 190,151 | ||||||
| Onslow Bay Financial LLC | ||||||||
| Series 2022-NQM6, Class A1, 4.700% STEP 7/25/62 (b) | 500,623 | 482,670 | ||||||
| Series 2023-NQM3, Class A1, 5.949% STEP 2/25/63 (b) | 494,602 | 491,510 | ||||||
| Prime Mortgage Trust | ||||||||
| Series 2006-DR1, Class 1A1, 5.500% 5/25/35 (b) | 2,229 | 2,091 | ||||||
| Series 2006-DR1, Class 2A2, 6.000% 5/25/35 (b) | 450,224 | 378,522 | ||||||
| PRKCM Trust, Series 2023-AFC1, Class A1, | ||||||||
| 6.598% STEP 2/25/58 (b) | 484,202 | 485,675 | ||||||
| Structured Adjustable Rate Mortgage Loan Trust, Series 2006-7, Class 1A1, | ||||||||
| 4.300% VRN 8/25/36 (e) | 149,902 | 104,934 | ||||||
| Structured Asset Mortgage Investments Trust, Series 2005-AR7, Class 4A1, 1 yr. MTA + 2.150% | ||||||||
| 6.126% FRN 3/25/46 | 93,370 | 81,821 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Towd Point Mortgage Trust | ||||||||
| Series 2017-4, Class B2, 3.547% VRN 6/25/57 (b) (e) | $ | 740,000 | $ | 590,174 | ||||
| Series 2022-4,Class A1, 3.750% 9/25/62 (b) (e) | 393,125 | 360,666 | ||||||
| 7,041,955 | ||||||||
| Whole Loan Collateral Planned Amortization Classes — 0.0% | ||||||||
| Countrywide Alternative Loan Trust, Series 2006-18CB, Class A6, 1 mo. USD LIBOR + 28.600% | ||||||||
| 7.998% FRN 7/25/36 | 40,005 | 34,171 | ||||||
| Whole Loan Collateral Support Collateralized Mortgage Obligations — 0.1% | ||||||||
| Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-AR3, Class A1B, 1 yr. MTA + 1.000% | ||||||||
| 4.976% FRN 2/25/46 | 438,813 | 372,789 | ||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $28,968,421) | 25,858,338 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 4.5% | ||||||||
| Argentina Government International Bonds | ||||||||
| 3.500% STEP 7/09/41 | 110,000 | 35,247 | ||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/27 BRL (f) | 3,328,000 | 657,219 | ||||||
| 10.000% 1/01/33 BRL (f) | 3,703,000 | 707,434 | ||||||
| Brazilian Government International Bonds | ||||||||
| 5.000% 1/27/45 | 810,000 | 630,529 | ||||||
| 5.625% 1/07/41 | 630,000 | 556,237 | ||||||
| Colombia Government International Bonds | ||||||||
| 3.250% 4/22/32 | 430,000 | 317,796 | ||||||
| 4.125% 2/22/42 | 440,000 | 279,483 | ||||||
| Indonesia Government International Bonds | ||||||||
| 5.125% 1/15/45 (b) | 220,000 | 218,404 | ||||||
| Indonesia Treasury Bonds | ||||||||
| 6.500% 2/15/31 IDR (f) | 55,850,000,000 | 3,753,299 | ||||||
| Israel Government International Bonds | ||||||||
| 2.750% 7/03/30 | 310,000 | 273,482 | ||||||
| Kenya Government International Bonds | ||||||||
| 6.300% 1/23/34 (b) | 370,000 | 278,545 | ||||||
| Mexican Bonos | ||||||||
| 7.750% 11/23/34 MXN (f) | 17,120,000 | 933,414 | ||||||
| 7.750% 11/13/42 MXN (f) | 46,165,600 | 2,418,886 | ||||||
| 8.000% 11/07/47 MXN (f) | 76,980,000 | 4,107,819 | ||||||
| 8.500% 5/31/29 MXN (f) | 18,880,000 | 1,092,044 | ||||||
| Mexico Government International Bonds | ||||||||
| 4.750% 3/08/44 | 730,000 | 623,460 | ||||||
| Nigeria Government International Bonds | ||||||||
| 7.143% 2/23/30 (b) | 210,000 | 175,683 | ||||||
| Pakistan Government International Bonds | ||||||||
| 4.500% 4/01/56 | 350,000 | 262,228 | ||||||
| Peruvian Government International Bonds | ||||||||
| 6.550% 3/14/37 | 210,000 | 235,200 | ||||||
| Provincia de Buenos Aires/Government Bonds | ||||||||
| 5.250% STEP 9/01/37 (b) | 1,920,019 | 729,607 | ||||||
| Russia Federal Bonds - OFZ | ||||||||
| 6.900% 5/23/29 RUB (f) | 128,828,000 | 71,971 | ||||||
| 7.250% 5/10/34 RUB (f) | 60,500,000 | 226,452 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.700% 3/16/39 RUB (f) | $ | 86,260,000 | $ | 322,873 | ||||
| 18,907,312 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $23,990,854) | 18,907,312 | |||||||
| U.S. Government Agency Obligations and Instrumentalities (g) — 34.8% | ||||||||
| Collateralized Mortgage Obligations — 2.1% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Series 3422, Class AI, 0.250% STEP 1/15/38 | 6,568 | 46 | ||||||
| Series 353, Class S1, 1 mo. USD LIBOR + 6.000% 0.807% FRN 12/15/46 | 196,431 | 17,181 | ||||||
| Series 334, Class S7, 1 mo. USD LIBOR + 6.100% 0.907% FRN 8/15/44 | 82,238 | 8,048 | ||||||
| Series 3621, Class SB, 1 mo. USD LIBOR + 6.230% 1.037% FRN 1/15/40 | 18,944 | 1,711 | ||||||
| Series 4203, Class PS, 1 mo. USD LIBOR + 6.250% 1.057% FRN 9/15/42 | 80,420 | 5,516 | ||||||
| Series 3973, Class SA, 1 mo. USD LIBOR + 6.490% 1.297% FRN 12/15/41 | 119,496 | 11,918 | ||||||
| Series 5092, Class AP, 2.000% 4/25/41 | 80,868 | 70,245 | ||||||
| Series 5018, Class MI, 2.000% 10/25/50 | 337,595 | 41,613 | ||||||
| Series 5140, Class NI, 2.500% 5/25/49 | 266,671 | 35,623 | ||||||
| Series 5010, Class IK, 2.500% 9/25/50 | 200,149 | 29,317 | ||||||
| Series 5010, Class JI, 2.500% 9/25/50 | 481,820 | 72,490 | ||||||
| Series 5013, Class IN, 2.500% 9/25/50 | 243,538 | 36,421 | ||||||
| Series 5040, Class IB, 2.500% 11/25/50 | 143,634 | 19,571 | ||||||
| Series 5059, Class IB, 2.500% 1/25/51 | 683,103 | 103,030 | ||||||
| Series 5069, Class MI, 2.500% 2/25/51 | 76,411 | 10,716 | ||||||
| Series 4793, Class CB, 3.000% 5/15/48 | 184,031 | 164,582 | ||||||
| Series 4793, Class CD, 3.000% 6/15/48 | 117,874 | 105,384 | ||||||
| Series 4813, Class CJ, 3.000% 8/15/48 | 100,822 | 92,478 | ||||||
| Series 5224, Class HL, 4.000% 4/25/52 | 400,000 | 362,026 | ||||||
| Series R007, Class ZA, 6.000% 5/15/36 | 50,700 | 51,924 | ||||||
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | ||||||||
| Series K741, Class X1, 0.654% VRN 12/25/27 (e) | 2,988,710 | 60,911 | ||||||
| Series K094, Class X1, 1.015% VRN 6/25/29 (e) | 992,458 | 41,452 | ||||||
| Series K743, Class X1, 1.027% VRN 5/25/28 (e) | 3,993,212 | 150,331 | ||||||
| Series KC05, Class X1, 1.349% VRN 6/25/27 (e) | 1,518,165 | 41,018 | ||||||
| Series K736, Class X1, 1.411% VRN 7/25/26 (e) | 2,027,605 | 63,456 | ||||||
| Series K115, Class X1, 1.428% VRN 6/25/30 (e) | 996,724 | 70,883 | ||||||
| Series K110, Class X1, 1.813% VRN 4/25/30 (e) | 1,293,552 | 111,032 | ||||||
| Series K143, Class A2, 2.350% 3/25/32 | 100,000 | 84,571 | ||||||
| Series K751, Class A2, 4.412% 3/25/30 | 100,000 | 98,771 | ||||||
| Series 2019-KF58, Class B, 1 mo. USD LIBOR + 2.150% 7.343% FRN 1/25/26 (b) | 506,574 | 497,615 | ||||||
| Federal Home Loan Mortgage Corp. REMICS | ||||||||
| Series 5085, Class NI, 2.000% 3/25/51 | 605,413 | 70,744 | ||||||
| Series 4391, Class MZ, 3.000% 9/15/44 | 259,950 | 224,678 | ||||||
| Federal National Mortgage Association | ||||||||
| Series 2005-88, Class IP, 0.092% FRN 10/25/35 (e) | 19,530 | 1,356 | ||||||
| Series 2006-88, Class IP, 0.255% VRN 3/25/36 (e) | 23,534 | 1,448 | ||||||
| Series 2013-124, Class SB, 1 mo. USD LIBOR + 5.950% 0.800% FRN 12/25/43 | 192,442 | 17,732 | ||||||
| Series 2006-59, Class IP, 0.932% FRN 7/25/36 (e) | 52,912 | 2,618 | ||||||
| Series 2016-61, Class BS, 1 mo. USD LIBOR + 6.100% 0.950% FRN 9/25/46 | 67,594 | 3,896 | ||||||
| Series 2017-76, Class SB, 1 mo. USD LIBOR + 6.100% 0.950% FRN 10/25/57 | 418,585 | 41,533 | ||||||
| Series 2012-133, Class CS, 1 mo. USD LIBOR + 6.150% 1.000% FRN 12/25/42 | 60,111 | 7,954 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2012-134, Class SK, 1 mo. USD LIBOR + 6.150% 1.000% FRN 12/25/42 | $ | 112,747 | $ | 12,970 | ||||
| Series 2013-54, Class BS, 1 mo. USD LIBOR + 6.150% 1.000% FRN 6/25/43 | 142,480 | 14,838 | ||||||
| Series 2017-85, Class SC, 1 mo. USD LIBOR + 6.200% 1.050% FRN 11/25/47 | 117,309 | 9,130 | ||||||
| Series 2012-35, Class SC, 1 mo. USD LIBOR + 6.500% 1.350% FRN 4/25/42 | 53,817 | 5,996 | ||||||
| Series 2011-87, Class SG, 1 mo. USD LIBOR + 6.550% 1.400% FRN 4/25/40 | 39,264 | 446 | ||||||
| Series 2011-96, Class SA, 1 mo. USD LIBOR + 6.550% 1.400% FRN 10/25/41 | 116,093 | 8,178 | ||||||
| Series 2012-74, Class SA, 1 mo. USD LIBOR + 6.650% 1.500% FRN 3/25/42 | 28,436 | 1,563 | ||||||
| Series 2021-65, Class JA, 2.000% 1/25/46 | 76,353 | 65,023 | ||||||
| Series 2020-57, Class 57, 2.000% 4/25/50 | 208,835 | 177,413 | ||||||
| Series 2020-47, Class GZ, 2.000% 7/25/50 | 318,535 | 188,093 | ||||||
| Series 2020-97, Class AI, 2.000% 1/25/51 | 176,941 | 22,262 | ||||||
| Series 2020-56, Class DI, 2.500% 8/25/50 | 390,170 | 56,341 | ||||||
| Series 2020-74, Class EI, 2.500% 10/25/50 | 152,173 | 22,872 | ||||||
| Series 2020-89, Class DI, 2.500% 12/25/50 | 1,063,202 | 157,968 | ||||||
| Series 2021-3, Class QI, 2.500% 2/25/51 | 719,484 | 108,432 | ||||||
| Series 409, Class C2, 3.000% 4/25/27 | 31,186 | 1,084 | ||||||
| Series 2012-118, Class VZ, 3.000% 11/25/42 | 135,914 | 122,014 | ||||||
| Series 409, Class C13, 3.500% 11/25/41 | 48,169 | 6,966 | ||||||
| Series 409, Class C18, 4.000% 4/25/42 | 55,366 | 9,376 | ||||||
| Series 409, Class C22, 4.500% 11/25/39 | 36,275 | 6,204 | ||||||
| Series 2006-118, Class IP1, 5.371% FRN 12/25/36 (e) | 47,963 | 3,630 | ||||||
| Series 2011-59, Class NZ, 5.500% 7/25/41 | 238,622 | 243,171 | ||||||
| Series 2013-9, Class CB, 5.500% 4/25/42 | 195,049 | 196,836 | ||||||
| Series 2006-118, Class IP2, 5.708% FRN 12/25/36 (e) | 37,959 | 2,480 | ||||||
| Series 2012-46, Class BA, 6.000% 5/25/42 | 50,153 | 51,178 | ||||||
| Series 2012-28, Class B, 6.500% 6/25/39 | 2,679 | 2,695 | ||||||
| Series 2013-9, Class BC, 6.500% 7/25/42 | 57,929 | 60,815 | ||||||
| Series 2012-51, Class B, 7.000% 5/25/42 | 40,614 | 42,893 | ||||||
| Federal National Mortgage Association Grantor Trust Series 2017-T1, Class A 2.898% 6/25/27 | 99,300 | 92,089 | ||||||
| Federal National Mortgage Association REMICS Series 2014-6, Class Z 2.500% 2/25/44 | 253,025 | 212,795 | ||||||
| Federal National Mortgage Association-ACES | ||||||||
| Series 2020-M36, Class X1, 1.541% VRN 9/25/34 (e) | 1,156,653 | 91,454 | ||||||
| Series 2019-M19, Class A2, 2.560% 9/25/29 | 433,630 | 385,005 | ||||||
| Government National Mortgage Association | ||||||||
| Series 2017-H20, Class IB, 0.153% VRN 10/20/67 (e) | 52,949 | 2,028 | ||||||
| Series 2017-H18, Class BI, 0.163% VRN 9/20/67 (e) | 2,618,524 | 111,379 | ||||||
| Series 2012-144, Class IO, 0.325% VRN 1/16/53 (e) | 2,064,567 | 13,065 | ||||||
| Series 2012-135, Class IO, 0.340% VRN 1/16/53 (e) | 2,257,698 | 30,998 | ||||||
| Series 2014-186, Class IO, 0.373% VRN 8/16/54 (e) | 341,339 | 3,008 | ||||||
| Series 2014-22, Class IA, 0.475% FRN 11/20/42 (e) | 17,455 | 648 | ||||||
| Series 2017-41, Class IO, 0.593% VRN 7/16/58 (e) | 512,310 | 15,209 | ||||||
| Series 2021-60, Class IO, 0.826% VRN 5/16/63 (e) | 2,273,633 | 140,352 | ||||||
| Series 2016-135, Class SB, 1 mo. USD LIBOR + 6.100% 0.942% FRN 10/16/46 | 99,127 | 13,106 | ||||||
| Series 2016-21, Class ST, 1 mo. USD LIBOR + 6.150% 1.004% FRN 2/20/46 | 54,568 | 5,563 | ||||||
| Series 2010-85, Class HS, 1 mo. USD LIBOR + 6.650% 1.504% FRN 1/20/40 | 3,137 | 16 | ||||||
| Series 2012-H27, Class AI, 1.732% VRN 10/20/62 (e) | 255,912 | 7,592 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2017-H15, Class KI, 1.763% VRN 7/20/67 (e) | $ | 104,514 | $ | 5,178 | ||||
| Series 2022-3, Class B, 1.850% 2/16/61 | 200,000 | 113,992 | ||||||
| Series 2020-181, Class WI, 2.000% 12/20/50 | 1,289,898 | 137,976 | ||||||
| Series 2021-188, Class PA, 2.000% 10/20/51 | 518,310 | 433,142 | ||||||
| Series 2023-92, Class AH, 2.000% 6/16/64 | 700,000 | 555,736 | ||||||
| Series 2020-123, Class NI, 2.500% 8/20/50 | 389,419 | 50,429 | ||||||
| Series 2020-123, Class IL, 2.500% 8/20/50 | 151,568 | 19,293 | ||||||
| Series 2020-127, Class IN, 2.500% 8/20/50 | 154,041 | 20,044 | ||||||
| Series 2020-129, Class IE, 2.500% 9/20/50 | 158,945 | 20,748 | ||||||
| Series 2020-160, Class IH, 2.500% 10/20/50 | 162,926 | 21,967 | ||||||
| Series 2020-160, Class YI, 2.500% 10/20/50 | 638,238 | 83,906 | ||||||
| Series 2020-160, Class VI, 2.500% 10/20/50 | 238,232 | 32,026 | ||||||
| Series 2022-115, Class MI, 2.500% 5/20/51 | 245,652 | 25,477 | ||||||
| Series 2022-189, Class PT, 2.500% 10/20/51 | 290,036 | 241,642 | ||||||
| Series 2013-107, Class AD, 2.841% VRN 11/16/47 (e) | 151,113 | 138,029 | ||||||
| Series 2022-196, Class BE, 3.000% VRN 10/16/64 (e) | 200,000 | 146,025 | ||||||
| Series 2022-220, Class E, 3.000% VRN 10/16/64 (e) | 100,000 | 75,060 | ||||||
| Series 2013-53, Class OI, 3.500% 4/20/43 | 279,670 | 29,415 | ||||||
| Series 2020-47, Class MI, 3.500% 4/20/50 | 259,114 | 43,745 | ||||||
| Series 2020-47, Class NI, 3.500% 4/20/50 | 71,855 | 12,246 | ||||||
| Series 2014-176, Class IA, 4.000% 11/20/44 | 34,840 | 5,815 | ||||||
| Series 2015-167, Class OI, 4.000% 4/16/45 | 44,572 | 7,694 | ||||||
| Series 2020-H13, Class FC, 1 mo. USD LIBOR + .450% 4.389% FRN 7/20/70 | 49,454 | 48,451 | ||||||
| Series 2020-H13, Class FA, 1 mo. USD LIBOR + .450% 4.423% FRN 7/20/70 | 129,593 | 126,849 | ||||||
| Series 2016-84, Class IG, 4.500% 11/16/45 | 203,740 | 36,829 | ||||||
| Series 2020-H09, Class FL, 1 mo. USD LIBOR + 1.150% 4.855% FRN 5/20/70 | 373,707 | 371,385 | ||||||
| Series 2018-H07, Class FD, 1 mo. USD LIBOR + .300% 5.394% FRN 5/20/68 | 193,314 | 191,664 | ||||||
| Series 2010-H28, Class FE, 1 mo. USD LIBOR + .400% 5.494% FRN 12/20/60 | 62,357 | 61,948 | ||||||
| Series 2011-H08, Class FG, 1 mo. USD LIBOR + .480% 5.574% FRN 3/20/61 | 54,737 | 54,434 | ||||||
| Series 2011-H09, Class AF, 1 mo. USD LIBOR + .500% 5.594% FRN 3/20/61 | 31,389 | 31,226 | ||||||
| Series 2020-H09, Class NF, 1 mo. USD LIBOR + 1.250% 6.344% FRN 4/20/70 | 110,498 | 110,908 | ||||||
| 8,810,292 | ||||||||
| Pass-Through Securities — 32.1% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #RB5084 1.500% 11/01/40 | 302,773 | 250,991 | ||||||
| Pool #RB5110 1.500% 5/01/41 | 673,361 | 555,885 | ||||||
| Pool #RB5117 1.500% 7/01/41 | 513,098 | 421,658 | ||||||
| Pool #RA4537 1.500% 2/01/51 | 85,503 | 66,337 | ||||||
| Pool #RB5125 2.000% 9/01/41 | 857,176 | 728,789 | ||||||
| Pool #RB5131 2.000% 10/01/41 | 87,004 | 73,864 | ||||||
| Pool #RB5138 2.000% 12/01/41 (h) | 177,616 | 150,791 | ||||||
| Pool #SC0313 2.000% 1/01/42 | 761,166 | 642,877 | ||||||
| Pool #QK1354 2.000% 2/01/42 | 89,738 | 75,792 | ||||||
| Pool #RB5145 2.000% 2/01/42 | 272,494 | 230,147 | ||||||
| Pool #SC0384 2.000% 4/01/42 | 397,449 | 337,919 | ||||||
| Pool #RB5153 2.000% 4/01/42 | 92,745 | 78,332 | ||||||
| Pool #SC0319 2.000% 4/01/42 (h) | 94,977 | 80,633 | ||||||
| Pool #QB4985 2.000% 11/01/50 | 75,410 | 62,065 | ||||||
| Pool #RA3882 2.000% 11/01/50 | 317,983 | 261,115 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #QB9087 2.000% 2/01/51 | $ | 370,867 | $ | 306,974 | ||||
| Pool #QB8602 2.000% 2/01/51 | 76,094 | 63,009 | ||||||
| Pool #QB9482 2.000% 3/01/51 | 76,550 | 63,099 | ||||||
| Pool #QC0041 2.000% 3/01/51 | 76,248 | 62,850 | ||||||
| Pool #QC0160 2.000% 3/01/51 | 67,389 | 55,716 | ||||||
| Pool #QC0161 2.000% 3/01/51 | 79,723 | 65,714 | ||||||
| Pool #QB9290 2.000% 3/01/51 | 249,644 | 206,401 | ||||||
| Pool #SD0573 2.000% 4/01/51 | 143,932 | 119,000 | ||||||
| Pool #QC0885 2.000% 4/01/51 | 83,217 | 68,803 | ||||||
| Pool #QC1164 2.000% 4/01/51 | 74,257 | 61,371 | ||||||
| Pool #SD8146 2.000% 5/01/51 | 1,177,401 | 961,682 | ||||||
| Pool #SD8172 2.000% 10/01/51 | 270,357 | 220,823 | ||||||
| Pool #QD2129 2.000% 11/01/51 | 1,009,499 | 824,227 | ||||||
| Pool #SD0745 2.000% 11/01/51 | 87,815 | 72,439 | ||||||
| Pool #840698 5 yr. CMT + 1.285% 2.104% FRN 3/01/47 | 17,943 | 16,542 | ||||||
| Pool #RB5149 2.500% 3/01/42 | 90,980 | 79,779 | ||||||
| Pool #SD7521 2.500% 7/01/50 | 272,385 | 234,509 | ||||||
| Pool #SD7525 2.500% 10/01/50 | 142,864 | 122,999 | ||||||
| Pool #QB5092 2.500% 11/01/50 | 149,440 | 128,496 | ||||||
| Pool #QB5093 2.500% 11/01/50 | 76,598 | 65,720 | ||||||
| Pool #RA3913 2.500% 11/01/50 | 441,367 | 379,649 | ||||||
| Pool #RA4142 2.500% 12/01/50 | 74,166 | 63,772 | ||||||
| Pool #SD8129 2.500% 2/01/51 | 66,130 | 56,304 | ||||||
| Pool #QC0165 2.500% 3/01/51 | 75,525 | 64,988 | ||||||
| Pool #QC5830 2.500% 8/01/51 | 173,919 | 149,002 | ||||||
| Pool #QC6551 2.500% 9/01/51 | 86,000 | 73,625 | ||||||
| Pool #QC7411 2.500% 9/01/51 | 89,800 | 76,794 | ||||||
| Pool #QC9443 2.500% 10/01/51 | 179,711 | 152,728 | ||||||
| Pool #SD1751 2.500% 10/01/51 | 189,162 | 161,824 | ||||||
| Pool #SD0777 2.500% 11/01/51 | 89,138 | 75,953 | ||||||
| Pool #SD7548 2.500% 11/01/51 | 883,796 | 757,726 | ||||||
| Pool #QD1850 2.500% 12/01/51 | 87,296 | 74,189 | ||||||
| Pool #SD7552 2.500% 1/01/52 | 271,387 | 231,911 | ||||||
| Pool #SD0849 2.500% 1/01/52 | 89,279 | 76,377 | ||||||
| Pool #RA6562 2.500% 1/01/52 | 174,394 | 150,117 | ||||||
| Pool #QD6079 2.500% 2/01/52 | 91,365 | 78,161 | ||||||
| Pool #QD8675 2.500% 3/01/52 | 90,963 | 77,760 | ||||||
| Pool #SD1749 2.500% 4/01/52 | 285,510 | 243,801 | ||||||
| Pool #SD7554 2.500% 4/01/52 | 1,197,259 | 1,024,229 | ||||||
| Pool #841077 1 yr. USD LIBOR + 1.619% 2.874% FRN 11/01/47 | 114,485 | 108,359 | ||||||
| Pool #ZT1257 3.000% 1/01/46 | 140,082 | 126,999 | ||||||
| Pool #G67701 3.000% 10/01/46 | 557,602 | 503,239 | ||||||
| Pool #G60985 3.000% 5/01/47 | 1,110,698 | 1,001,024 | ||||||
| Pool #SD7509 3.000% 11/01/49 | 47,380 | 42,355 | ||||||
| Pool #QC9154 3.000% 10/01/51 | 92,097 | 81,811 | ||||||
| Pool #SD0781 3.000% 11/01/51 | 84,405 | 74,418 | ||||||
| Pool #QD7333 3.000% 2/01/52 | 92,760 | 82,016 | ||||||
| Pool #841076 1 yr. USD LIBOR + 1.628% 3.006% FRN 11/01/48 | 438,445 | 411,756 | ||||||
| Pool #841081 1 yr. USD LIBOR + 1.621% 3.098% FRN 2/01/50 | 184,161 | 174,284 | ||||||
| Pool #ZS9316 3.500% 1/01/38 | 256,876 | 243,767 | ||||||
| Pool #Q41209 3.500% 6/01/46 | 117,425 | 109,395 | ||||||
| Pool #SD1549 3.500% 4/01/52 | 283,375 | 258,708 | ||||||
| Pool #SD8214 3.500% 5/01/52 | 281,335 | 256,472 | ||||||
| Pool #SD1936 3.500% 6/01/52 | 291,350 | 265,966 | ||||||
| Pool #Q19135 4.000% 6/01/43 | 23,147 | 22,332 | ||||||
| Pool #Q19236 4.000% 6/01/43 | 15,104 | 14,501 | ||||||
| Pool #Q19985 4.000% 7/01/43 | 631,455 | 609,229 | ||||||
| Pool #Q19615 4.000% 7/01/43 | 21,819 | 21,051 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #C09071 4.000% 2/01/45 | $ | 121,155 | $ | 115,792 | ||||
| Pool #G67713 4.000% 6/01/48 | 459,397 | 440,643 | ||||||
| Pool #SD2866 4.000% 7/01/49 | 99,019 | 94,466 | ||||||
| Pool #SD2549 4.000% 7/01/52 | 96,057 | 91,339 | ||||||
| Pool #SD7560 4.000% 2/01/53 | 293,891 | 278,586 | ||||||
| Pool #U92272 4.500% 12/01/43 | 2,407 | 2,365 | ||||||
| Pool #SD2792 4.500% 3/01/47 | 97,397 | 95,709 | ||||||
| Pool #Q49177 4.500% 6/01/47 | 47,575 | 46,684 | ||||||
| Pool #SD1143 4.500% 9/01/50 | 84,758 | 82,624 | ||||||
| Pool #SD0615 4.500% 1/01/51 | 89,109 | 86,838 | ||||||
| Pool #SD1807 4.500% 7/01/52 | 96,940 | 93,613 | ||||||
| Pool #SD8245 4.500% 9/01/52 | 2,822,360 | 2,712,259 | ||||||
| Pool #SD2190 4.500% 10/01/52 | 97,428 | 93,627 | ||||||
| Pool #SD8257 4.500% 10/01/52 | 1,996,712 | 1,918,819 | ||||||
| Pool #SD2443 4.500% 10/01/52 | 98,788 | 94,996 | ||||||
| Pool #QF3201 4.500% 11/01/52 | 98,020 | 94,226 | ||||||
| Pool #SD1775 4.500% 11/01/52 | 193,259 | 186,324 | ||||||
| Pool #SD2251 4.500% 11/01/52 | 99,078 | 95,213 | ||||||
| Pool #SD2394 4.500% 11/01/52 | 98,834 | 95,009 | ||||||
| Pool #QF3213 4.500% 11/01/52 | 95,716 | 92,213 | ||||||
| Pool #SD2355 4.500% 12/01/52 | 96,939 | 93,188 | ||||||
| Pool #SD1305 5.000% 7/01/52 | 422,190 | 415,654 | ||||||
| Pool #QF5465 5.000% 12/01/52 | 98,167 | 96,463 | ||||||
| Pool #SD2374 5.000% 1/01/53 | 98,597 | 96,886 | ||||||
| Pool #SD2395 5.000% 1/01/53 | 95,567 | 93,789 | ||||||
| Pool #SD2591 5.000% 3/01/53 | 196,464 | 193,300 | ||||||
| Pool #RA8790 5.000% 4/01/53 | 199,536 | 195,636 | ||||||
| Pool #G06875 5.500% 12/01/38 | 4,134 | 4,201 | ||||||
| Pool #SD8268 5.500% 11/01/52 | 6,623,157 | 6,600,582 | ||||||
| Pool #SD2138 5.500% 1/01/53 | 98,021 | 97,895 | ||||||
| Pool #SD2723 5.500% 3/01/53 | 99,573 | 99,638 | ||||||
| Pool #SD2511 5.500% 4/01/53 | 99,498 | 99,273 | ||||||
| Pool #QF9985 5.500% 4/01/53 | 98,532 | 98,161 | ||||||
| Pool #QG1295 5.500% 4/01/53 | 99,803 | 99,513 | ||||||
| Pool #SD2762 5.500% 5/01/53 | 198,037 | 197,733 | ||||||
| Pool #SD2756 5.500% 5/01/53 | 98,098 | 97,889 | ||||||
| Pool #SD2284 6.000% 12/01/52 | 190,921 | 193,684 | ||||||
| Pool #QF4924 6.000% 12/01/52 | 96,334 | 98,175 | ||||||
| Pool #G06669 6.500% 9/01/39 | 8,102 | 8,456 | ||||||
| Pool #G07509 6.500% 9/01/39 | 7,588 | 7,964 | ||||||
| Pool #QF6690 6.500% 1/01/53 | 94,180 | 96,319 | ||||||
| Pool #SD2452 6.500% 2/01/53 | 97,290 | 99,830 | ||||||
| Pool #RA8904 6.500% 4/01/53 | 197,320 | 202,410 | ||||||
| Pool #RA9081 6.500% 5/01/53 | 99,881 | 102,926 | ||||||
| Pool #G07335 7.000% 3/01/39 | 17,291 | 18,509 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4519 1.500% 1/01/42 | 90,938 | 74,305 | ||||||
| Pool #MA4236 1.500% 1/01/51 | 168,223 | 130,516 | ||||||
| Pool #MA4280 1.500% 3/01/51 | 299,207 | 232,140 | ||||||
| Pool #MA4474 2.000% 11/01/41 | 87,670 | 74,429 | ||||||
| Pool #MA4501 2.000% 12/01/41 | 177,851 | 150,990 | ||||||
| Pool #MA4540 2.000% 2/01/42 | 90,297 | 76,265 | ||||||
| Pool #FS4613 2.000% 5/01/42 | 99,317 | 84,441 | ||||||
| Pool #BQ3331 2.000% 8/01/50 | 77,745 | 63,744 | ||||||
| Pool #BQ0254 2.000% 8/01/50 | 68,183 | 56,458 | ||||||
| Pool #BQ1528 2.000% 9/01/50 | 68,780 | 56,952 | ||||||
| Pool #CA7023 2.000% 9/01/50 | 150,150 | 123,437 | ||||||
| Pool #BQ4926 2.000% 10/01/50 | 150,782 | 123,627 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #CA7224 2.000% 10/01/50 | $ | 149,279 | $ | 122,722 | ||||
| Pool #CA7225 2.000% 10/01/50 | 76,028 | 62,502 | ||||||
| Pool #MA4208 2.000% 12/01/50 | 76,594 | 62,705 | ||||||
| Pool #MA4237 2.000% 1/01/51 | 156,848 | 128,405 | ||||||
| Pool #BR4052 2.000% 2/01/51 | 79,626 | 65,436 | ||||||
| Pool #CA8779 2.000% 2/01/51 | 246,587 | 201,793 | ||||||
| Pool #BR2644 2.000% 2/01/51 | 71,131 | 58,632 | ||||||
| Pool #BR2664 2.000% 2/01/51 | 284,505 | 235,491 | ||||||
| Pool #BR3500 2.000% 2/01/51 | 61,487 | 50,337 | ||||||
| Pool #BR3256 2.000% 2/01/51 | 72,182 | 59,837 | ||||||
| Pool #CA9220 2.000% 2/01/51 | 420,134 | 343,815 | ||||||
| Pool #MA4255 2.000% 2/01/51 | 79,492 | 65,076 | ||||||
| Pool #BR2641 2.000% 2/01/51 | 75,155 | 62,207 | ||||||
| Pool #BR2643 2.000% 2/01/51 | 73,828 | 61,040 | ||||||
| Pool #BR3257 2.000% 2/01/51 | 76,204 | 63,099 | ||||||
| Pool #BR3286 2.000% 3/01/51 | 76,228 | 63,095 | ||||||
| Pool #BR4722 2.000% 3/01/51 | 73,771 | 60,808 | ||||||
| Pool #BR4753 2.000% 3/01/51 | 81,412 | 67,386 | ||||||
| Pool #BR4756 2.000% 3/01/51 | 71,892 | 59,259 | ||||||
| Pool #BR5487 2.000% 3/01/51 | 79,296 | 65,362 | ||||||
| Pool #BR5587 2.000% 3/01/51 | 82,422 | 68,145 | ||||||
| Pool #BR5633 2.000% 3/01/51 | 82,849 | 68,291 | ||||||
| Pool #FM6343 2.000% 3/01/51 | 82,917 | 68,347 | ||||||
| Pool #BQ9453 2.000% 3/01/51 | 167,708 | 138,658 | ||||||
| Pool #FM6418 2.000% 3/01/51 | 82,168 | 68,012 | ||||||
| Pool #BR7745 2.000% 4/01/51 | 73,850 | 61,035 | ||||||
| Pool #BR7744 2.000% 4/01/51 | 76,453 | 63,186 | ||||||
| Pool #BR8478 2.000% 4/01/51 | 80,659 | 66,662 | ||||||
| Pool #BR8518 2.000% 4/01/51 | 76,443 | 63,178 | ||||||
| Pool #FM9441 2.000% 4/01/51 | 86,606 | 70,900 | ||||||
| Pool #MA4305 2.000% 4/01/51 | 499,936 | 409,276 | ||||||
| Pool #MA4325 2.000% 5/01/51 | 679,860 | 555,298 | ||||||
| Pool #FS4269 2.000% 10/01/51 | 196,019 | 161,575 | ||||||
| Pool #FM9489 2.000% 11/01/51 | 181,205 | 148,345 | ||||||
| Pool #BU2591 2.000% 12/01/51 | 93,086 | 75,973 | ||||||
| Pool #FS0349 2.000% 1/01/52 | 183,941 | 151,102 | ||||||
| Pool #FS1014 2.000% 2/01/52 | 90,242 | 74,272 | ||||||
| Pool #FS1015 2.000% 2/01/52 | 274,815 | 225,752 | ||||||
| Pool #FS4314 2.000% 3/01/52 | 97,954 | 80,466 | ||||||
| Pool #FS1112 2.000% 3/01/52 | 184,381 | 152,155 | ||||||
| Pool #MA2749 2.500% 9/01/36 | 40,466 | 37,002 | ||||||
| Pool #FM3123 2.500% 3/01/38 | 391,774 | 357,742 | ||||||
| Pool #CA9358 2.500% 3/01/41 | 79,666 | 70,430 | ||||||
| Pool #CB0100 2.500% 4/01/41 | 163,896 | 144,896 | ||||||
| Pool #MA4571 2.500% 3/01/42 | 90,325 | 79,204 | ||||||
| Pool #MA4587 2.500% 4/01/42 | 91,924 | 80,349 | ||||||
| Pool #FS4471 2.500% 9/01/42 | 98,756 | 86,598 | ||||||
| Pool #BK2620 2.500% 6/01/50 | 63,141 | 54,223 | ||||||
| Pool #MA4120 2.500% 9/01/50 | 56,479 | 48,069 | ||||||
| Pool #FM5313 2.500% 10/01/50 | 82,112 | 70,361 | ||||||
| Pool #FM4577 2.500% 10/01/50 | 199,196 | 170,906 | ||||||
| Pool #BM6623 2.500% 10/01/50 | 92,185 | 75,909 | ||||||
| Pool #CA7257 2.500% 10/01/50 | 76,612 | 65,779 | ||||||
| Pool #BQ5876 2.500% 11/01/50 | 80,470 | 69,041 | ||||||
| Pool #FM6460 2.500% 3/01/51 | 153,565 | 131,755 | ||||||
| Pool #MA4306 2.500% 4/01/51 | 77,162 | 65,552 | ||||||
| Pool #FS1111 2.500% 5/01/51 | 89,199 | 75,890 | ||||||
| Pool #CB0458 2.500% 5/01/51 | 888,579 | 754,884 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FM7675 2.500% 6/01/51 | $ | 212,368 | $ | 182,074 | ||||
| Pool #FM7676 2.500% 6/01/51 | 85,535 | 73,173 | ||||||
| Pool #FM7900 2.500% 7/01/51 | 165,064 | 141,209 | ||||||
| Pool #BT5574 2.500% 8/01/51 | 83,751 | 71,035 | ||||||
| Pool #BT3303 2.500% 8/01/51 | 85,710 | 73,430 | ||||||
| Pool # FS0024 2.500% 9/01/51 | 79,958 | 68,902 | ||||||
| Pool #FM9195 2.500% 10/01/51 | 261,651 | 222,365 | ||||||
| Pool #FM8864 2.500% 10/01/51 | 168,687 | 144,413 | ||||||
| Pool #FM9335 2.500% 10/01/51 | 88,821 | 75,402 | ||||||
| Pool #FS0434 2.500% 11/01/51 | 87,550 | 75,389 | ||||||
| Pool #FS1104 2.500% 11/01/51 | 87,198 | 74,814 | ||||||
| Pool #BU2599 2.500% 1/01/52 | 88,881 | 76,035 | ||||||
| Pool #FS0366 2.500% 1/01/52 | 89,401 | 77,039 | ||||||
| Pool #FS0424 2.500% 1/01/52 | 89,089 | 76,158 | ||||||
| Pool #FS0551 2.500% 2/01/52 | 90,822 | 77,640 | ||||||
| Pool #FS0549 2.500% 2/01/52 | 275,291 | 234,904 | ||||||
| Pool #BU1322 2.500% 2/01/52 | 91,904 | 78,220 | ||||||
| Pool #BV3089 2.500% 2/01/52 | 88,897 | 75,993 | ||||||
| Pool #FS0523 2.500% 2/01/52 | 91,163 | 77,789 | ||||||
| Pool #FS3368 2.500% 3/01/52 | 772,614 | 659,265 | ||||||
| Pool #CB3044 2.500% 3/01/52 | 93,953 | 80,169 | ||||||
| Pool #CB3031 2.500% 3/01/52 | 182,758 | 155,089 | ||||||
| Pool #FS1626 2.500% 4/01/52 | 93,795 | 79,976 | ||||||
| Pool #BF0560 2.500% 9/01/61 | 91,345 | 75,703 | ||||||
| Pool #AM8674 2.810% 4/01/25 | 50,000 | 47,917 | ||||||
| Pool #MA2320 3.000% 7/01/35 | 37,111 | 34,833 | ||||||
| Pool #MA2523 3.000% 2/01/36 | 250,087 | 234,426 | ||||||
| Pool #MA2579 3.000% 4/01/36 | 181,863 | 170,475 | ||||||
| Pool #MA2773 3.000% 10/01/36 | 524,349 | 491,186 | ||||||
| Pool #MA4632 3.000% 6/01/42 | 187,397 | 168,576 | ||||||
| Pool #AQ7306 3.000% 1/01/43 | 24,373 | 21,784 | ||||||
| Pool #AR1202 3.000% 1/01/43 | 31,684 | 28,259 | ||||||
| Pool #AR7399 3.000% 6/01/43 | 18,227 | 16,488 | ||||||
| Pool #AS0038 3.000% 7/01/43 | 40,600 | 36,725 | ||||||
| Pool #AU6735 3.000% 10/01/43 | 25,448 | 23,019 | ||||||
| Pool #BC1509 3.000% 8/01/46 | 33,292 | 29,886 | ||||||
| Pool #AS7844 3.000% 9/01/46 | 57,525 | 51,640 | ||||||
| Pool #BC2817 3.000% 9/01/46 | 43,197 | 38,777 | ||||||
| Pool #BD8104 3.000% 10/01/46 | 160,032 | 144,109 | ||||||
| Pool #AL9397 3.000% 10/01/46 | 67,065 | 60,204 | ||||||
| Pool #BM1565 3.000% 4/01/47 | 619,969 | 558,091 | ||||||
| Pool #FM8576 3.000% 2/01/50 | 75,643 | 67,644 | ||||||
| Pool #FM4311 3.000% 8/01/50 | 70,987 | 62,970 | ||||||
| Pool #CA7531 3.000% 10/01/50 | 75,403 | 67,312 | ||||||
| Pool #FM8577 3.000% 8/01/51 | 159,256 | 142,116 | ||||||
| Pool #FS0037 3.000% 8/01/51 | 77,108 | 68,834 | ||||||
| Pool #FM8648 3.000% 9/01/51 | 81,574 | 72,311 | ||||||
| Pool #CB1878 3.000% 10/01/51 | 174,290 | 153,790 | ||||||
| Pool #FM9464 3.000% 11/01/51 | 167,956 | 149,513 | ||||||
| Pool #FS0034 3.000% 12/01/51 | 88,018 | 78,456 | ||||||
| Pool #CB2664 3.000% 1/01/52 | 544,742 | 480,456 | ||||||
| Pool #BU1421 3.000% 1/01/52 | 180,325 | 159,946 | ||||||
| Pool #FS1171 3.000% 1/01/52 | 443,450 | 391,291 | ||||||
| Pool # FS0240 3.000% 1/01/52 | 87,130 | 77,671 | ||||||
| Pool #FS0331 3.000% 1/01/52 | 90,268 | 79,841 | ||||||
| Pool #FS1289 3.000% 3/01/52 | 89,627 | 80,142 | ||||||
| Pool #FS0957 3.000% 3/01/52 | 184,720 | 162,690 | ||||||
| Pool #FS1374 3.000% 3/01/52 | 183,381 | 161,697 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool # FS1074 3.000% 3/01/52 | $ | 450,243 | $ | 401,330 | ||||
| Pool #CB3833 3.000% 6/01/52 | 93,736 | 82,806 | ||||||
| Pool #BL2454 3.160% 5/01/29 | 85,044 | 79,122 | ||||||
| Pool #BS5734 3.345% 6/01/32 | 100,000 | 92,246 | ||||||
| Pool #MA2110 3.500% 12/01/34 | 55,224 | 52,682 | ||||||
| Pool #MA2138 3.500% 1/01/35 | 28,248 | 26,947 | ||||||
| Pool #FM5754 3.500% 3/01/37 | 48,459 | 46,167 | ||||||
| Pool #890827 3.500% 12/01/37 | 39,743 | 37,652 | ||||||
| Pool #FM0068 3.500% 2/01/40 | 200,074 | 188,739 | ||||||
| Pool #FM0071 3.500% 2/01/40 | 40,259 | 37,978 | ||||||
| Pool #MA1177 3.500% 9/01/42 | 16,302 | 15,044 | ||||||
| Pool #MA1213 3.500% 10/01/42 | 100,369 | 92,625 | ||||||
| Pool #AL3026 3.500% 12/01/42 | 31,443 | 29,296 | ||||||
| Pool #AS6541 3.500% 1/01/46 | 83,459 | 77,713 | ||||||
| Pool #AL9546 3.500% 11/01/46 | 162,789 | 152,040 | ||||||
| Pool #MA3210 3.500% 12/01/47 | 273,910 | 252,913 | ||||||
| Pool #FS5059 3.500% 11/01/48 | 900,000 | 834,946 | ||||||
| Pool #FM3773 3.500% 11/01/48 | 367,913 | 340,630 | ||||||
| Pool #FM7100 3.500% 6/01/50 | 59,677 | 55,219 | ||||||
| Pool #FS1240 3.500% 12/01/51 | 87,386 | 80,095 | ||||||
| Pool #FS1237 3.500% 12/01/51 | 86,579 | 79,996 | ||||||
| Pool #FS1462 3.500% 1/01/52 | 89,071 | 82,299 | ||||||
| Pool #CB2680 3.500% 1/01/52 | 87,826 | 80,510 | ||||||
| Pool #FS1118 3.500% 3/01/52 | 88,070 | 80,403 | ||||||
| Pool #FS1092 3.500% 4/01/52 | 273,475 | 250,300 | ||||||
| Pool #FS1454 3.500% 4/01/52 | 93,008 | 85,106 | ||||||
| Pool #FS1555 3.500% 4/01/52 | 93,354 | 85,512 | ||||||
| Pool #CB3282 3.500% 4/01/52 | 183,121 | 167,166 | ||||||
| Pool #FS2707 3.500% 4/01/52 | 189,186 | 172,718 | ||||||
| Pool #BV5395 3.500% 4/01/52 | 88,237 | 81,349 | ||||||
| Pool #FS1556 3.500% 5/01/52 | 369,106 | 340,552 | ||||||
| Pool #BV8546 3.500% 5/01/52 | 90,867 | 83,745 | ||||||
| Pool #FS3339 3.500% 6/01/52 | 288,547 | 263,407 | ||||||
| Pool #BS6565 3.740% 9/01/32 | 100,000 | 94,691 | ||||||
| Pool #BS6215 3.840% 7/01/32 | 100,000 | 95,578 | ||||||
| Pool #BS6131 3.890% 7/01/32 | 300,000 | 280,695 | ||||||
| Pool #BS6949 3.980% 10/01/32 | 200,000 | 189,686 | ||||||
| Pool #AK8441 4.000% 4/01/42 | 13,190 | 12,656 | ||||||
| Pool #AO2711 4.000% 5/01/42 | 9,946 | 9,540 | ||||||
| Pool #AO6086 4.000% 6/01/42 | 20,833 | 19,981 | ||||||
| Pool #AP0692 4.000% 7/01/42 | 14,309 | 13,734 | ||||||
| Pool #AP5333 4.000% 7/01/42 | 143,235 | 137,357 | ||||||
| Pool #AP2530 4.000% 8/01/42 | 15,178 | 14,561 | ||||||
| Pool #AP4903 4.000% 9/01/42 | 24,364 | 23,377 | ||||||
| Pool #AP7399 4.000% 9/01/42 | 35,845 | 34,375 | ||||||
| Pool #AP9766 4.000% 10/01/42 | 58,602 | 55,569 | ||||||
| Pool #AP9229 4.000% 10/01/42 | 8,324 | 7,982 | ||||||
| Pool #MA1217 4.000% 10/01/42 | 72,476 | 68,758 | ||||||
| Pool #AQ3599 4.000% 11/01/42 | 16,051 | 15,394 | ||||||
| Pool #MA1253 4.000% 11/01/42 | 44,981 | 42,671 | ||||||
| Pool #AQ7003 4.000% 12/01/42 | 26,644 | 25,564 | ||||||
| Pool #AQ4555 4.000% 12/01/42 | 27,712 | 26,577 | ||||||
| Pool #AQ7082 4.000% 1/01/43 | 36,269 | 34,795 | ||||||
| Pool #AL3508 4.000% 4/01/43 | 24,106 | 23,121 | ||||||
| Pool #AT8394 4.000% 6/01/43 | 24,072 | 23,198 | ||||||
| Pool #AB9683 4.000% 6/01/43 | 33,174 | 31,816 | ||||||
| Pool #AQ4078 4.000% 6/01/43 | 21,630 | 20,758 | ||||||
| Pool #AQ4080 4.000% 6/01/43 | 15,839 | 15,197 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #AT9637 4.000% 7/01/43 | $ | 65,794 | $ | 63,201 | ||||
| Pool #AT9653 4.000% 7/01/43 | 49,906 | 48,095 | ||||||
| Pool #AT9657 4.000% 7/01/43 | 39,175 | 37,594 | ||||||
| Pool #AS0070 4.000% 8/01/43 | 23,008 | 22,043 | ||||||
| Pool #MA1547 4.000% 8/01/43 | 23,010 | 22,045 | ||||||
| Pool #FM3049 4.000% 4/01/44 | 210,758 | 202,120 | ||||||
| Pool #AS4347 4.000% 1/01/45 | 38,236 | 36,729 | ||||||
| Pool #CA2472 4.000% 10/01/48 | 88,265 | 83,682 | ||||||
| Pool #CA5371 4.000% 3/01/50 | 113,114 | 106,790 | ||||||
| Pool #FS4645 4.000% 11/01/51 | 98,157 | 92,348 | ||||||
| Pool #FM9413 4.000% 11/01/51 | 70,632 | 66,452 | ||||||
| Pool #FS4108 4.000% 12/01/51 | 98,942 | 93,147 | ||||||
| Pool #CB3320 4.000% 4/01/52 | 373,875 | 352,768 | ||||||
| Pool #CB3384 4.000% 4/01/52 | 86,099 | 80,889 | ||||||
| Pool #MA4626 4.000% 6/01/52 | 15,123,645 | 14,203,683 | ||||||
| Pool #FS2442 4.000% 7/01/52 | 191,099 | 180,191 | ||||||
| Pool #BF0104 4.000% 2/01/56 | 77,164 | 72,940 | ||||||
| Pool #BF0183 4.000% 1/01/57 | 42,773 | 40,431 | ||||||
| Pool #BF0191 4.000% 6/01/57 | 72,884 | 68,622 | ||||||
| Pool #BS6124 4.060% 7/01/32 | 100,000 | 95,018 | ||||||
| Pool #BS8715 4.320% 6/01/33 | 100,000 | 100,015 | ||||||
| Pool #BS8162 4.480% 5/01/33 | 100,000 | 99,585 | ||||||
| Pool #MA0706 4.500% 4/01/31 | 9,267 | 9,117 | ||||||
| Pool #MA0734 4.500% 5/01/31 | 32,198 | 31,679 | ||||||
| Pool #MA0776 4.500% 6/01/31 | 10,894 | 10,719 | ||||||
| Pool #MA0913 4.500% 11/01/31 | 8,449 | 8,324 | ||||||
| Pool #MA0939 4.500% 12/01/31 | 8,371 | 8,246 | ||||||
| Pool #AA0856 4.500% 1/01/39 | 6,291 | 6,176 | ||||||
| Pool #AA3495 4.500% 2/01/39 | 4,904 | 4,809 | ||||||
| Pool #935520 4.500% 8/01/39 | 9,435 | 9,258 | ||||||
| Pool #AD5481 4.500% 5/01/40 | 233,851 | 229,627 | ||||||
| Pool #AD6914 4.500% 6/01/40 | 26,893 | 26,404 | ||||||
| Pool #AD8685 4.500% 8/01/40 | 80,587 | 79,032 | ||||||
| Pool #MA1591 4.500% 9/01/43 | 42,846 | 42,048 | ||||||
| Pool #AL4341 4.500% 10/01/43 | 2,393 | 2,357 | ||||||
| Pool #MA1629 4.500% 10/01/43 | 38,944 | 38,219 | ||||||
| Pool #MA1664 4.500% 11/01/43 | 18,365 | 18,023 | ||||||
| Pool #MA1711 4.500% 12/01/43 | 40,650 | 39,893 | ||||||
| Pool #AL4741 4.500% 1/01/44 | 16,954 | 16,638 | ||||||
| Pool #AW0318 4.500% 2/01/44 | 45,568 | 44,876 | ||||||
| Pool #AL5562 4.500% 4/01/44 | 7,833 | 7,714 | ||||||
| Pool #890604 4.500% 10/01/44 | 182,191 | 179,596 | ||||||
| Pool #AS4271 4.500% 1/01/45 | 22,261 | 22,056 | ||||||
| Pool #CA2047 4.500% 7/01/48 | 163,044 | 159,550 | ||||||
| Pool #FM1263 4.500% 7/01/49 | 41,401 | 40,335 | ||||||
| Pool #FS4480 4.500% 3/01/50 | 97,343 | 95,865 | ||||||
| Pool #CA5379 4.500% 3/01/50 | 169,871 | 165,766 | ||||||
| Pool #MA4031 4.500% 5/01/50 | 70,048 | 68,267 | ||||||
| Pool #FS0067 4.500% 9/01/51 | 71,786 | 69,732 | ||||||
| Pool #MA4733 4.500% 9/01/52 | 4,063,740 | 3,905,211 | ||||||
| Pool #FS2914 4.500% 9/01/52 | 95,612 | 92,420 | ||||||
| Pool #FS3835 4.500% 11/01/52 | 96,749 | 93,308 | ||||||
| Pool #BX2186 4.500% 11/01/52 | 97,896 | 94,106 | ||||||
| Pool #FS3813 4.500% 11/01/52 | 95,419 | 91,756 | ||||||
| Pool #FS3977 4.500% 11/01/52 | 97,593 | 93,816 | ||||||
| Pool #FS3836 4.500% 1/01/53 | 96,121 | 92,401 | ||||||
| Pool #CB5892 4.500% 3/01/53 | 97,434 | 93,663 | ||||||
| Pool #CB6030 4.500% 4/01/53 | 99,534 | 95,683 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #BF0148 4.500% 4/01/56 | $ | 339,657 | $ | 331,037 | ||||
| Pool #BF0222 4.500% 9/01/57 | 362,272 | 350,093 | ||||||
| Pool #BF0301 4.500% 8/01/58 | 37,922 | 36,623 | ||||||
| Pool #BF0338 4.500% 1/01/59 | 89,370 | 86,030 | ||||||
| Pool #310088 5.000% 6/01/38 | 17,928 | 17,948 | ||||||
| Pool #FS4570 5.000% 12/01/47 | 194,736 | 194,536 | ||||||
| Pool #CB3880 5.000% 6/01/52 | 92,647 | 91,444 | ||||||
| Pool #BW0048 5.000% 7/01/52 | 91,288 | 89,660 | ||||||
| Pool #MA4785 5.000% 10/01/52 | 1,562,552 | 1,532,504 | ||||||
| Pool #MA4806 5.000% 11/01/52 | 8,709,939 | 8,542,443 | ||||||
| Pool #FS3978 5.000% 1/01/53 | 97,527 | 95,712 | ||||||
| Pool #FS3941 5.000% 2/01/53 | 99,529 | 97,801 | ||||||
| Pool #FS4308 5.000% 4/01/53 | 95,958 | 94,083 | ||||||
| Pool #995072 5.500% 8/01/38 | 10,068 | 10,288 | ||||||
| Pool #FS3672 5.500% 2/01/53 | 196,646 | 196,393 | ||||||
| Pool #FS4166 5.500% 4/01/53 | 99,440 | 99,064 | ||||||
| Pool #CB6322 5.500% 5/01/53 | 99,218 | 99,283 | ||||||
| Pool #FS4805 5.500% 5/01/53 | 99,863 | 99,931 | ||||||
| Pool #BF0141 5.500% 9/01/56 | 376,995 | 387,609 | ||||||
| Pool #481473 6.000% 2/01/29 | 9 | 9 | ||||||
| Pool #867557 6.000% 2/01/36 | 1,320 | 1,332 | ||||||
| Pool #FS4000 6.000% 7/01/41 | 95,030 | 97,449 | ||||||
| Pool #FS3411 6.000% 1/01/53 | 93,035 | 94,295 | ||||||
| Pool #FS4573 6.000% 5/01/53 | 197,334 | 200,191 | ||||||
| Pool #AL4324 6.500% 5/01/40 | 49,916 | 52,361 | ||||||
| Pool #CB5497 6.500% 1/01/53 | 94,965 | 97,859 | ||||||
| Pool #BX7702 6.500% 2/01/53 | 95,231 | 97,420 | ||||||
| Pool #AE0758 7.000% 2/01/39 | 26,553 | 28,341 | ||||||
| Government National Mortgage Association | ||||||||
| Pool #AB2892 3.000% 9/15/42 | 73,176 | 66,466 | ||||||
| Pool #783669 3.000% 9/15/42 | 134,350 | 122,090 | ||||||
| Pool #AA5649 3.000% 9/15/42 | 71,461 | 64,878 | ||||||
| Pool #AB9108 3.000% 10/15/42 | 513,468 | 466,166 | ||||||
| Pool #AB9109 3.000% 10/15/42 | 44,130 | 40,065 | ||||||
| Pool #AB9207 3.000% 11/15/42 | 38,422 | 34,882 | ||||||
| Pool #784571 3.500% 6/15/48 | 159,307 | 149,453 | ||||||
| Pool #BS8439 3.500% 5/15/50 | 123,323 | 114,886 | ||||||
| Pool #487588 6.000% 4/15/29 | 499 | 502 | ||||||
| Pool #595077 6.000% 10/15/32 | 177 | 180 | ||||||
| Pool #604706 6.000% 10/15/33 | 24,610 | 25,051 | ||||||
| Pool #636251 6.000% 3/15/35 | 3,468 | 3,539 | ||||||
| Pool #782034 6.000% 1/15/36 | 26,055 | 26,564 | ||||||
| Pool #658029 6.000% 7/15/36 | 6,711 | 6,873 | ||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA7135 2.000% 1/20/51 | 146,424 | 123,322 | ||||||
| Pool #MA7192 2.000% 2/20/51 | 1,413,691 | 1,190,639 | ||||||
| Pool #MA7471 2.000% 7/20/51 | 248,950 | 209,399 | ||||||
| Pool #MA7648 2.000% 10/20/51 | 87,790 | 73,842 | ||||||
| Pool #MA7704 2.000% 11/20/51 | 88,798 | 74,635 | ||||||
| Pool #BS8546 2.500% 12/20/50 | 72,717 | 62,256 | ||||||
| Pool #MA7136 2.500% 1/20/51 | 63,324 | 55,031 | ||||||
| Pool #MA7312 2.500% 4/20/51 | 146,453 | 127,227 | ||||||
| Pool #785565 2.500% 6/20/51 | 170,840 | 146,263 | ||||||
| Pool #785558 2.500% 7/20/51 (h) | 83,664 | 71,707 | ||||||
| Pool #785568 2.500% 8/20/51 | 253,867 | 217,346 | ||||||
| Pool #785657 2.500% 10/20/51 | 526,469 | 450,731 | ||||||
| Pool #785663 2.500% 10/20/51 | 170,178 | 145,696 | ||||||
| Pool #785667 2.500% 10/20/51 | 175,694 | 150,419 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA7649 2.500% 10/20/51 | $ | 606,170 | $ | 525,265 | ||||
| Pool #785762 2.500% 11/20/51 | 89,640 | 76,744 | ||||||
| Pool #MA7705 2.500% 11/20/51 | 349,974 | 303,236 | ||||||
| Pool #785789 2.500% 12/20/51 | 89,087 | 76,271 | ||||||
| Pool #785821 2.500% 12/20/51 | 181,783 | 155,632 | ||||||
| Pool #MA7767 2.500% 12/20/51 | 1,242,577 | 1,075,858 | ||||||
| Pool #MA8197 2.500% 8/20/52 | 93,005 | 80,541 | ||||||
| Pool #MA8264 2.500% 9/20/52 | 93,997 | 81,400 | ||||||
| Pool #MA8485 2.500% 12/20/52 | 287,917 | 249,242 | ||||||
| Pool #MA8642 2.500% 2/20/53 | 291,674 | 253,611 | ||||||
| Pool #MA4068 3.000% 11/20/46 | 18,513 | 16,767 | ||||||
| Pool #MA7590 3.000% 9/20/51 | 882,530 | 791,695 | ||||||
| Pool #MA7650 3.000% 10/20/51 | 166,407 | 149,280 | ||||||
| Pool #MA7706 3.000% 11/20/51 | 688,941 | 618,031 | ||||||
| Pool #CJ9477 3.000% 1/20/52 | 269,206 | 239,269 | ||||||
| Pool #785944 3.000% 2/20/52 | 90,833 | 80,788 | ||||||
| Pool #786095 3.000% 4/20/52 | 95,280 | 83,344 | ||||||
| Pool #786134 3.000% 4/20/52 | 86,017 | 76,317 | ||||||
| Pool #MA1995 3.500% 6/20/44 | 46,819 | 44,110 | ||||||
| Pool #MA2678 3.500% 3/20/45 | 20,131 | 18,953 | ||||||
| Pool #784106 3.500% 1/20/46 | 53,095 | 49,873 | ||||||
| Pool #MA3597 3.500% 4/20/46 | 83,560 | 78,489 | ||||||
| Pool #BC4732 3.500% 10/20/47 | 181,575 | 169,195 | ||||||
| Pool #BD0384 3.500% 10/20/47 | 136,179 | 126,894 | ||||||
| Pool #784825 3.500% 10/20/49 | 39,112 | 35,907 | ||||||
| Pool #BM7534 3.500% 2/20/50 | 60,526 | 56,078 | ||||||
| Pool #MA6711 3.500% 6/20/50 | 325,357 | 303,656 | ||||||
| Pool #MA6997 3.500% 11/20/50 | 396,354 | 369,794 | ||||||
| Pool #MA7989 3.500% 4/20/52 | 94,160 | 86,982 | ||||||
| Pool #786216 3.500% 6/20/52 | 94,135 | 86,304 | ||||||
| Pool #MA8487 3.500% 12/20/52 | 196,327 | 181,085 | ||||||
| Pool #MA4511 4.000% 6/20/47 | 517,528 | 496,760 | ||||||
| Pool #MA4720 4.000% 9/20/47 | 338,884 | 325,179 | ||||||
| Pool #MA5078 4.000% 3/20/48 | 277,894 | 266,308 | ||||||
| Pool #MA5763 4.000% 2/20/49 | 116,925 | 111,940 | ||||||
| Pool #BM9734 4.000% 10/20/49 | 32,077 | 30,579 | ||||||
| Pool #BM9743 4.000% 11/20/49 | 38,281 | 36,493 | ||||||
| Pool #BS1728 4.000% 1/20/50 | 39,858 | 37,997 | ||||||
| Pool #BS1742 4.000% 2/20/50 | 31,451 | 29,982 | ||||||
| Pool #BS1757 4.000% 3/20/50 | 29,817 | 28,379 | ||||||
| Pool #BS8420 4.000% 4/20/50 | 130,445 | 124,150 | ||||||
| Pool #MA8045 4.000% 5/20/52 | 190,220 | 179,882 | ||||||
| Pool #MA8100 4.000% 6/20/52 | 95,432 | 90,245 | ||||||
| Pool #CK9592 4.000% 6/20/52 | 95,534 | 90,686 | ||||||
| Pool #786429 4.000% 6/20/52 | 96,483 | 92,461 | ||||||
| Pool #MA8798 4.000% 4/20/53 | 99,333 | 93,926 | ||||||
| Pool #783298 4.500% 4/20/41 | 74,888 | 73,864 | ||||||
| Pool #783368 4.500% 7/20/41 | 11,169 | 11,017 | ||||||
| Pool #MA4654 4.500% 8/20/47 | 113,894 | 112,027 | ||||||
| Pool #MA5138 4.500% 4/20/48 | 171,891 | 168,322 | ||||||
| Pool #MA5193 4.500% 5/20/48 | 174,676 | 171,049 | ||||||
| Pool #MA5265 4.500% 6/20/48 | 237,456 | 232,525 | ||||||
| Pool #MA5331 4.500% 7/20/48 | 38,405 | 37,595 | ||||||
| Pool #MA5711 4.500% 1/20/49 | 75,700 | 74,056 | ||||||
| Pool #MA5764 4.500% 2/20/49 | 95,774 | 93,665 | ||||||
| Pool #MA5818 4.500% 3/20/49 | 288,471 | 282,210 | ||||||
| Pool #MA8046 4.500% 5/20/52 | 284,532 | 274,600 | ||||||
| Pool #786366 4.500% 8/20/52 | 193,537 | 187,280 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA8268 4.500% 9/20/52 | $ | 291,427 | $ | 281,345 | ||||
| Pool #786335 4.500% 9/20/52 | 193,759 | 188,040 | ||||||
| Pool #G24747 5.000% 7/20/40 | 46,716 | 46,913 | ||||||
| Pool #MA5194 5.000% 5/20/48 | 19,604 | 19,601 | ||||||
| Pool #MA5530 5.000% 10/20/48 | 79,573 | 79,484 | ||||||
| Pool #MA5597 5.000% 11/20/48 | 40,169 | 40,125 | ||||||
| Pool #MA5653 5.000% 12/20/48 | 48,833 | 48,702 | ||||||
| Pool #MA5712 5.000% 1/20/49 | 214,383 | 213,808 | ||||||
| Pool #MA5878 5.000% 4/20/49 | 19,762 | 19,709 | ||||||
| Pool #786340 5.000% 9/20/52 | 96,969 | 96,345 | ||||||
| Pool #786526 5.000% 10/20/52 | 195,921 | 193,436 | ||||||
| Pool #MA8348 5.000% 10/20/52 | 97,450 | 95,909 | ||||||
| Pool #MA8428 5.000% 11/20/52 | 294,006 | 289,176 | ||||||
| Pool #786474 5.000% 1/20/53 | 196,039 | 194,778 | ||||||
| Pool #MA8647 5.000% 2/20/53 | 4,141,650 | 4,071,010 | ||||||
| Pool #786544 5.000% 2/20/53 | 99,219 | 98,085 | ||||||
| Pool #MA8725 5.000% 3/20/53 | 4,482,892 | 4,407,833 | ||||||
| Pool #786709 5.000% 5/20/53 | 99,869 | 99,164 | ||||||
| Pool #MA8947 5.000% 6/20/53 | 2,220,000 | 2,181,442 | ||||||
| Pool #MA8429 5.500% 11/20/52 | 294,491 | 293,542 | ||||||
| Pool #MA8648 5.500% 2/20/53 | 1,738,727 | 1,732,038 | ||||||
| Pool #786535 5.500% 2/20/53 | 99,452 | 99,784 | ||||||
| Pool #MA8801 5.500% 4/20/53 | 3,134,931 | 3,121,891 | ||||||
| Pool #MA8879 5.500% 5/20/53 | 2,155,557 | 2,146,591 | ||||||
| Pool #MA8948 5.500% 6/20/53 | 1,860,000 | 1,852,263 | ||||||
| Pool #MA8727 6.000% 3/20/53 | 99,077 | 99,820 | ||||||
| Government National Mortgage Association II TBA | ||||||||
| 2.500% 7/20/53 (h) | 400,000 | 346,168 | ||||||
| 3.500% 7/20/53 (h) | 1,000,000 | 922,729 | ||||||
| 4.500% 7/20/53 (h) | 400,000 | 385,946 | ||||||
| 5.000% 7/20/53 (h) | 200,000 | 196,509 | ||||||
| 5.500% 7/20/53 (h) | 100,000 | 99,560 | ||||||
| 6.000% 7/20/53 (h) | 100,000 | 100,651 | ||||||
| Uniform Mortgage-Backed Security, TBA | ||||||||
| 2.500% 7/13/53 (h) | 3,300,000 | 2,796,621 | ||||||
| 3.000% 7/13/53 (h) | 1,900,000 | 1,671,703 | ||||||
| 3.500% 7/13/53 (h) | 800,000 | 728,687 | ||||||
| 4.000% 7/13/53 (h) | 700,000 | 656,742 | ||||||
| 4.510% 8/01/33 (h) (i) (j) | 100,000 | 100,758 | ||||||
| 4.720% 7/01/33 (h) (i) (j) | 100,000 | 101,672 | ||||||
| 5.000% 7/13/53 (h) | 200,000 | 195,945 | ||||||
| 6.000% 7/13/53 (h) | 200,000 | 201,742 | ||||||
| 6.500% 7/13/53 (h) | 200,000 | 204,203 | ||||||
| 135,226,216 | ||||||||
| Whole Loans — 0.6% | ||||||||
| Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
| Series 2020-DNA2, Class M2, 1 mo. USD LIBOR + 1.850% 7.000% FRN 2/25/50 (b) | 290,147 | 291,050 | ||||||
| Series 2020-DNA6, Class M2, 30 day USD SOFR Average + 2.000% 7.067% FRN 12/25/50 (b) | 612,529 | 618,253 | ||||||
| Series 2020-DNA1, Class B1, 1 mo. USD LIBOR + 2.300% 7.450% FRN 1/25/50 (b) | 380,000 | 374,553 | ||||||
| Series 2021-DNA6, Class B1, 30 day USD SOFR Average + 3.400% 8.467% FRN 10/25/41 (b) | 260,000 | 258,940 | ||||||
| Series 2020-DNA3, Class B1, 1 mo. USD LIBOR + 5.100% 10.250% FRN 6/25/50 (b) | 272,818 | 293,628 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust | ||||||||
| Series 2019-R07, Class 1M2, 1 mo. USD LIBOR + 2.100% 7.250% FRN 10/25/39 (b) | $ | 24,798 | $ | 24,836 | ||||
| Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 7.450% FRN 8/25/31 (b) | 13,667 | 13,682 | ||||||
| Series 2022-R04, Class 1M2, 30 day USD SOFR Average + 3.100% 8.167% FRN 3/25/42 (b) | 680,000 | 690,477 | ||||||
| 2,565,419 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $153,434,844) | 146,601,927 | |||||||
| U.S. TREASURY OBLIGATIONS — 24.6% | ||||||||
| U.S. Treasury Bonds & Notes — 24.6% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 1.625% 11/15/50 | 390,000 | 241,801 | ||||||
| 1.750% 8/15/41 | 110,000 | 77,211 | ||||||
| 1.875% 11/15/51 | 2,067,000 | 1,362,268 | ||||||
| 2.000% 11/15/41 | 160,000 | 116,981 | ||||||
| 2.000% 2/15/50 | 410,000 | 280,748 | ||||||
| 2.250% 5/15/41 | 300,000 | 230,825 | ||||||
| 2.250% 2/15/52 | 625,000 | 451,018 | ||||||
| 2.375% 5/15/51 | 2,230,000 | 1,655,404 | ||||||
| 2.875% 8/15/45 | 790,000 | 651,316 | ||||||
| 2.875% 5/15/49 | 210,000 | 173,494 | ||||||
| 2.875% 5/15/52 | 27,720,000 | 22,936,662 | ||||||
| 3.000% 2/15/48 | 16,000 | 13,474 | ||||||
| 3.000% 2/15/49 | 920,000 | 777,562 | ||||||
| 3.000% 8/15/52 | 22,110,000 | 18,771,313 | ||||||
| 3.375% 5/15/44 | 1,140,000 | 1,026,588 | ||||||
| 3.625% 2/15/53 | 2,170,000 | 2,079,654 | ||||||
| 3.750% 11/15/43 | 40,000 | 38,167 | ||||||
| 3.875% 2/15/43 | 1,070,000 | 1,042,455 | ||||||
| 3.875% 5/15/43 | 2,540,000 | 2,480,036 | ||||||
| 4.000% 11/15/42 | 320,000 | 317,738 | ||||||
| 4.000% 11/15/52 | 200,000 | 205,144 | ||||||
| U.S. Treasury Floating Rate Notes 3 mo. Treasury money market yield + .200% | ||||||||
| 5.449% FRN 1/31/25 | 32,020,000 | 32,064,690 | ||||||
| U.S. Treasury Inflation Index | ||||||||
| 1.125% 1/15/33 | 3,034,385 | 2,906,520 | ||||||
| U.S. Treasury Notes | ||||||||
| 0.250% 11/15/23 | 70,000 | 68,721 | ||||||
| 2.625% 5/31/27 | 60,000 | 56,358 | ||||||
| 3.375% 5/15/33 | 55,000 | 53,059 | ||||||
| 4.000% 12/15/25 | 160,000 | 157,485 | ||||||
| 4.125% 11/15/32 | 12,780,000 | 13,056,745 | ||||||
| 4.625% 3/15/26 | 30,000 | 30,034 | ||||||
| U.S. Treasury Strip | ||||||||
| 0.000% 5/15/49 | 1,450,000 | 537,203 | ||||||
| 103,860,674 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $108,783,062) | 103,860,674 | |||||||
| TOTAL BONDS & NOTES (Cost $447,041,174) | 416,220,854 | |||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL PURCHASED OPTIONS(#) — 0.1% (Cost $349,552) | $ | 470,124 | ||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $447,390,726) | 416,690,978 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 2.7% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (k) | 5,062,800 | 5,062,800 | ||||||
| Principal Amount | Value | |||||||
| Repurchase Agreement — 1.5% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (l) | $ | 6,391,113 | 6,391,113 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $11,453,913) | 11,453,913 | |||||||
| TOTAL INVESTMENTS — 101.5% (Cost $458,844,639) (m) | 428,144,891 | |||||||
| Other Assets/(Liabilities) — (1.5)% | (6,310,263) | |||||||
| NET ASSETS — 100.0% | $ | 421,834,628 | ||||||
Abbreviation Legend
| FRN | Floating Rate Note |
| REMICS | Real Estate Mortgage Investment Conduits |
| 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) | All or a portion of the security represents unsettled bank loan commitments at June 30, 2023 where the rate will be determined at time of settlement. |
| (b) | 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 June 30, 2023, the aggregate market value of these securities amounted to $47,386,746 or 11.23% of net assets. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $5,118,778 or 1.21% of net assets. The Fund received $162,035 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). |
| (d) | Security is perpetual and has no stated maturity date. |
| (e) | 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 June 30, 2023. |
| (f) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (g) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (h) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (i) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $202,430 or 0.05% of net assets. |
| (j) | Investment is valued using significant unobservable inputs. |
| (k) | Represents investment of security lending cash collateral. (Note 2). |
| (l) | Maturity value of $6,391,923. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $6,519,068. |
| (m) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Put | ||||||||||||||||||||||
| USD Put AUD Call | Bank of America N.A. | 8/25/23 | 0.68 | 2,530,000 | USD | 2,530,000 | $ | 17,457 | $ | 22,021 | $ | (4,564) | ||||||||||
| (#) Exchange-Traded Options Purchased | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 9/15/23 | 96.75 | 240 | USD | 57,378,000 | $ | 36,000 | $ | 56,004 | $ | (20,004) | |||||||||||||||||
| Put | ||||||||||||||||||||||||||||
| U.S. Treasury Note 5 Year Future | 7/07/23 | 107.25 | 105 | USD | 11,244,844 | $ | 41,836 | $ | 45,830 | $ | (3,994) | |||||||||||||||||
| SOFR 1 Year Mid Curve Future | 7/14/23 | 95.25 | 522 | USD | 124,797,150 | 45,675 | 22,746 | 22,929 | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 7/14/23 | 95.38 | 110 | USD | 26,298,250 | 16,500 | 11,231 | 5,269 | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 10/13/23 | 97.00 | 51 | USD | 12,236,813 | 140,887 | 55,507 | 85,380 | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 12/15/23 | 95.88 | 45 | USD | 10,797,188 | 46,969 | 40,495 | 6,474 | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 12/15/23 | 96.00 | 104 | USD | 24,953,500 | 124,800 | 95,718 | 29,082 | ||||||||||||||||||||
| $ | 416,667 | $ | 271,527 | $ | 145,140 | |||||||||||||||||||||||
| $ | 452,667 | $ | 327,531 | $ | 125,136 | |||||||||||||||||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Exchange-Traded Options Written | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 7/21/23 | 114.00 | 51 | USD | 5,725,547 | $ | (8,766) | $ | (39,787) | $ | 31,021 | |||||||||||||||||
| U.S. Treasury Note 5 Year Future | 7/21/23 | 109.00 | 52 | USD | 5,568,875 | (3,250) | (30,355) | 27,105 | ||||||||||||||||||||
| 3 Month SOFR Future | 9/15/23 | 98.75 | 43 | USD | 10,169,500 | (269) | (14,560) | 14,291 | ||||||||||||||||||||
| 3 Month SOFR Future | 6/14/24 | 97.50 | 95 | USD | 22,619,500 | (31,469) | (85,476) | 54,007 | ||||||||||||||||||||
| 3 Month SOFR Future | 9/13/24 | 97.00 | 80 | USD | 19,126,000 | (56,500) | (62,832) | 6,332 | ||||||||||||||||||||
| $ | (100,254) | $ | (233,010) | $ | 132,756 | |||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 7/21/23 | 112.50 | 51 | USD | 5,725,547 | $ | (42,234) | $ | (39,177) | $ | (3,057) | |||||||||||||||||
| U.S. Treasury Note 5 Year Future | 7/21/23 | 108.00 | 52 | USD | 5,568,875 | (57,688) | (32,059) | (25,629) | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 10/13/23 | 96.25 | 51 | USD | 12,236,813 | (68,850) | (18,418) | (50,432) | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 10/13/23 | 96.50 | 51 | USD | 12,236,813 | (90,525) | (27,355) | (63,170) | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 12/15/23 | 95.25 | 90 | USD | 21,594,375 | (40,500) | (35,811) | (4,689) | ||||||||||||||||||||
| SOFR 1 Year Mid Curve Future | 12/15/23 | 95.38 | 208 | USD | 49,907,000 | (113,100) | (86,838) | (26,262) | ||||||||||||||||||||
| 3 Month SOFR Future | 6/14/24 | 94.50 | 337 | USD | 80,239,700 | (208,519) | (117,343) | (91,176) | ||||||||||||||||||||
| $ | (621,416) | $ | (357,001) | $ | (264,415) | |||||||||||||||||||||||
| $ | (721,670) | $ | (590,011) | $ | (131,659) | |||||||||||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| BNP Paribas SA | 7/18/23 | EUR | 2,315,079 | USD | 2,539,510 | $ | (11,709) | |||||||||
| BNP Paribas SA | 7/18/23 | CAD | 6,965,772 | USD | 5,179,771 | 79,402 | ||||||||||
| Citibank N.A. | 7/18/23 | USD | 2,113,232 | IDR | 31,594,508,090 | 6,129 | ||||||||||
| Goldman Sachs Bank USA | 7/18/23 | ZAR | 6,889,002 | USD | 381,965 | (16,405) | ||||||||||
| Goldman Sachs Bank USA | 7/18/23 | JPY | 1,009,734,792 | USD | 7,762,974 | (751,653) | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | AUD | 10,362,739 | USD | 6,967,543 | (61,892) | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | NOK | 12,358,698 | EUR | 1,082,890 | (30,468) | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | MXN | 22,114,726 | USD | 1,229,414 | 59,338 | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | USD | 1,469,879 | CNH | 10,055,443 | 85,317 | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | USD | 290,668 | GBP | 233,085 | (5,375) | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | USD | 1,575,207 | EUR | 1,442,631 | 20 | ||||||||||
| Morgan Stanley & Co. LLC | 7/18/23 | USD | 890,768 | AUD | 1,331,077 | 3,748 | ||||||||||
| $ | (643,548) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Euro-BOBL | 9/07/23 | 10 | $ | 1,274,590 | $ | (11,962) | ||||||||
| Euro-OAT | 9/07/23 | 16 | 2,246,006 | (4,244) | ||||||||||
| Australia Treasury Bond 10 Year | 9/15/23 | 36 | 2,820,370 | (34,395) | ||||||||||
| 3 Month SOFR | 9/19/23 | 1 | 241,415 | (4,465) | ||||||||||
| U.S. Treasury Long Bond | 9/20/23 | 173 | 21,956,045 | (1,264) | ||||||||||
| U.S. Treasury Ultra 10 Year | 9/20/23 | 87 | 10,314,409 | (10,346) | ||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 135 | 18,245,607 | 143,924 | ||||||||||
| UK Long Gilt | 9/27/23 | 14 | 1,727,706 | (33,273) | ||||||||||
| U.S. Treasury Note 5 Year | 9/29/23 | 1,729 | 188,318,763 | (3,153,669) | ||||||||||
| 3 Month SOFR | 3/18/25 | 102 | 24,528,290 | (54,665) | ||||||||||
| 3 Month SOFR | 3/17/26 | 24 | 5,783,134 | 8,966 | ||||||||||
| $ | (3,155,393) | |||||||||||||
| Short | ||||||||||||||
| Euro-BUXL 30 Year Bond | 9/07/23 | 2 | $ | (301,867) | $ | (2,796) | ||||||||
| Japanese 10 Year Bond | 9/12/23 | 4 | (4,100,189) | (17,764) | ||||||||||
| U.S. Treasury Note 10 Year | 9/20/23 | 797 | (90,938,340) | 1,462,637 | ||||||||||
| U.S. Treasury Ultra 10 Year | 9/20/23 | 38 | (4,551,127) | 50,502 | ||||||||||
| U.S. Treasury Note 2 Year | 9/29/23 | 307 | (63,508,216) | 1,081,685 | ||||||||||
| 3 Month SOFR | 3/19/24 | 157 | (37,575,348) | 429,148 | ||||||||||
| $ | 3,003,412 | |||||||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
| CDX.NA.HY Series 40† | 5.000% | Quarterly | 6/20/28 | USD | 922,100 | $ | (25,530) | $ | 5,006 | $ | (30,536) | |||||||||||||||||||||
| Centrally Cleared Credit Default Swaps - Sell Protection†† | ||||||||||||||||||||||||||||||||
| Reference Obligation/ Index | Rate Received by Fund | Payment Frequency | Termination Date | Credit Rating | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| CDX.NA.IG Series 40† | 1.000% | Quarterly | 6/20/28 | BBB* | USD | 78,348,000 | $ | 1,170,833 | $ | 704,544 | $ | 466,289 | ||||||||||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 28 Day-MXN-TIIE-Banxico | Monthly | Fixed 7.450% | Monthly | 7/18/29 | MXN | 88,370,000 | $ | (184,485) | $ | 37,242 | $ | (221,727) | ||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 4.100% | Annually | 3/10/26 | USD | 20,642,000 | (20,684) | 249,051 | (269,735) | |||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 2.980% | Annually | 11/30/27 | USD | 13,414,000 | (496,259) | 2,603 | (498,862) | |||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 3.450% | Annually | 11/30/27 | USD | 20,268,000 | (385,208) | (2,843) | (382,365) | |||||||||||||||||||||||
| Fixed 2.850% | Annually | 12-Month USD SOFR | Annually | 2/15/29 | USD | 3,019,000 | 148,200 | (3,872) | 152,072 | |||||||||||||||||||||||
| Fixed 3.270% | Annually | 12-Month USD SOFR | Annually | 4/30/29 | USD | 2,504,000 | 69,728 | 32,812 | 36,916 | |||||||||||||||||||||||
| Fixed 3.850% | Annually | 12-Month USD SOFR | Annually | 6/30/29 | USD | 1,621,000 | (5,081) | (837) | (4,244) | |||||||||||||||||||||||
| Fixed 3.400% | Annually | 12-Month USD SOFR | Annually | 3/10/34 | USD | 4,603,000 | (6,380) | (77,564) | 71,184 | |||||||||||||||||||||||
| Fixed 1.520% | Annually | 12-Month USD SOFR | Annually | 2/15/47 | USD | 1,137,000 | 330,384 | (29,926) | 360,310 | |||||||||||||||||||||||
| Fixed 2.600% | Annually | 12-Month USD SOFR | Annually | 2/15/48 | USD | 1,787,000 | 207,887 | 145,503 | 62,384 | |||||||||||||||||||||||
| Fixed 3.050% | Annually | 12-Month USD SOFR | Annually | 2/15/48 | USD | 2,381,000 | 100,052 | 94,235 | 5,817 | |||||||||||||||||||||||
| Fixed 3.150% | Annually | 12-Month USD SOFR | Annually | 5/15/48 | USD | 3,760,000 | 92,390 | (713,734) | 806,124 | |||||||||||||||||||||||
| Fixed 2.500% | Annually | 12-Month USD SOFR | Annually | 4/21/52 | USD | 1,900,000 | 245,434 | 3,408 | 242,026 | |||||||||||||||||||||||
| $ | 95,978 | $ | (263,922) | $ | 359,900 | |||||||||||||||||||||||||||
| * | Rating is determined by Western Asset Management Company and represents a weighted average of the ratings of all securities included in the underlying index for the credit default swap. Ratings used in the weighted average are from Moody's Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, whichever is the highest for each constituent. All ratings are as of the report date and do not reflect subsequent changes. |
| † | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
| †† | For each credit derivative with sold protection, the credit ratings of the entities referenced, as rated by any rating organization, are included in the equivalent S&P Global Ratings or Western Asset Management Company's rating category, as applicable. The reference entity rating represents the likelihood of a potential payment by the Fund if the referenced entity experiences a credit event as of period end. Notional amounts represent the maximum potential amount of future payments (undiscounted) the Fund could be required to make under the credit derivatives with sold protection. |
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNH | Offshore Chinese Yuan |
| EUR | Euro |
| GBP | British Pound |
| IDR | Indonesian Rupiah |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| RUB | Russian Ruble |
| USD | U.S. Dollar |
| ZAR | South African Rand |
| MassMutual Diversified Value Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.8% | ||||||||
| COMMON STOCK — 96.8% | ||||||||
| Basic Materials — 3.2% | ||||||||
| Chemicals — 1.6% | ||||||||
| CF Industries Holdings, Inc. | 40,081 | $ | 2,782,423 | |||||
| Dow, Inc. | 14,200 | 756,292 | ||||||
| Eastman Chemical Co. | 2,400 | 200,928 | ||||||
| FMC Corp. | 2,400 | 250,416 | ||||||
| LyondellBasell Industries NV Class A | 6,800 | 624,444 | ||||||
| Olin Corp. | 2,800 | 143,892 | ||||||
| 4,758,395 | ||||||||
| Forest Products & Paper — 0.6% | ||||||||
| International Paper Co. | 57,481 | 1,828,471 | ||||||
| Iron & Steel — 0.9% | ||||||||
| Cleveland-Cliffs, Inc. (a) | 8,700 | 145,812 | ||||||
| Nucor Corp. | 7,600 | 1,246,248 | ||||||
| Reliance Steel & Aluminum Co. | 1,700 | 461,703 | ||||||
| Steel Dynamics, Inc. | 5,400 | 588,222 | ||||||
| U.S. Steel Corp. | 4,900 | 122,549 | ||||||
| 2,564,534 | ||||||||
| Mining — 0.1% | ||||||||
| Newmont Corp. | 8,800 | 375,408 | ||||||
| 9,526,808 | ||||||||
| Communications — 5.7% | ||||||||
| Advertising — 0.3% | ||||||||
| Interpublic Group of Cos., Inc. | 8,200 | 316,356 | ||||||
| Omnicom Group, Inc. | 5,400 | 513,810 | ||||||
| 830,166 | ||||||||
| Media — 3.0% | ||||||||
| Comcast Corp. Class A | 90,400 | 3,756,120 | ||||||
| Fox Corp. Class A | 8,700 | 295,800 | ||||||
| News Corp. Class A | 138,119 | 2,693,320 | ||||||
| News Corp. Class B | 28,179 | 555,690 | ||||||
| Nexstar Media Group, Inc. Class A | 800 | 133,240 | ||||||
| Walt Disney Co. (a) | 17,045 | 1,521,778 | ||||||
| 8,955,948 | ||||||||
| Telecommunications — 2.4% | ||||||||
| AT&T, Inc. | 146,800 | 2,341,460 | ||||||
| Cisco Systems, Inc. | 85,200 | 4,408,248 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Corning, Inc. | 17,500 | $ | 613,200 | |||||
| 7,362,908 | ||||||||
| 17,149,022 | ||||||||
| Consumer, Cyclical — 5.9% | ||||||||
| Apparel — 0.2% | ||||||||
| Levi Strauss & Co. Class A (b) | 2,100 | 30,303 | ||||||
| Ralph Lauren Corp. | 900 | 110,970 | ||||||
| Skechers USA, Inc. Class A (a) | 2,700 | 142,182 | ||||||
| Tapestry, Inc. | 4,900 | 209,720 | ||||||
| 493,175 | ||||||||
| Auto Manufacturers — 1.4% | ||||||||
| Cummins, Inc. | 2,900 | 710,964 | ||||||
| Ford Motor Co. | 98,400 | 1,488,792 | ||||||
| General Motors Co. | 29,600 | 1,141,376 | ||||||
| PACCAR, Inc. | 10,800 | 903,420 | ||||||
| 4,244,552 | ||||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| BorgWarner, Inc. | 4,900 | 239,659 | ||||||
| Lear Corp. | 1,300 | 186,615 | ||||||
| 426,274 | ||||||||
| Distribution & Wholesale — 0.3% | ||||||||
| Ferguson PLC | 3,500 | 550,585 | ||||||
| LKQ Corp. | 7,700 | 448,679 | ||||||
| 999,264 | ||||||||
| Home Builders — 1.0% | ||||||||
| D.R. Horton, Inc. | 9,400 | 1,143,886 | ||||||
| Lennar Corp. Class A | 7,000 | 877,170 | ||||||
| NVR, Inc. (a) | 70 | 444,543 | ||||||
| PulteGroup, Inc. | 6,900 | 535,992 | ||||||
| Toll Brothers, Inc. | 1,300 | 102,791 | ||||||
| 3,104,382 | ||||||||
| Leisure Time — 0.1% | ||||||||
| Brunswick Corp. | 2,000 | 173,280 | ||||||
| Polaris, Inc. | 1,200 | 145,116 | ||||||
| 318,396 | ||||||||
| Lodging — 0.6% | ||||||||
| Boyd Gaming Corp. | 2,200 | 152,614 | ||||||
| Las Vegas Sands Corp. (a) | 30,232 | 1,753,456 | ||||||
| 1,906,070 | ||||||||
| Retail — 2.1% | ||||||||
| AutoNation, Inc. (a) | 2,300 | 378,603 | ||||||
| Bath & Body Works, Inc. | 4,600 | 172,500 | ||||||
| Best Buy Co., Inc. | 4,600 | 376,970 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Lithia Motors, Inc. | 400 | $ | 121,644 | |||||
| Lowe's Cos., Inc. | 18,600 | 4,198,020 | ||||||
| Murphy USA, Inc. | 400 | 124,444 | ||||||
| Penske Automotive Group, Inc. | 1,700 | 283,271 | ||||||
| Walgreens Boots Alliance, Inc. | 17,100 | 487,179 | ||||||
| Williams-Sonoma, Inc. | 1,400 | 175,196 | ||||||
| 6,317,827 | ||||||||
| 17,809,940 | ||||||||
| Consumer, Non-cyclical — 23.5% | ||||||||
| Agriculture — 3.2% | ||||||||
| Altria Group, Inc. | 36,500 | 1,653,450 | ||||||
| Archer-Daniels-Midland Co. | 14,200 | 1,072,952 | ||||||
| Bunge Ltd. | 2,100 | 198,135 | ||||||
| Darling Ingredients, Inc. (a) | 3,300 | 210,507 | ||||||
| Philip Morris International, Inc. | 65,797 | 6,423,103 | ||||||
| 9,558,147 | ||||||||
| Beverages — 0.1% | ||||||||
| Molson Coors Beverage Co. Class B | 4,100 | 269,944 | ||||||
| Biotechnology — 2.1% | ||||||||
| Amgen, Inc. | 11,100 | 2,464,422 | ||||||
| Bio-Rad Laboratories, Inc. Class A (a) | 500 | 189,560 | ||||||
| Biogen, Inc. (a) | 2,400 | 683,640 | ||||||
| Gilead Sciences, Inc. | 26,100 | 2,011,527 | ||||||
| Moderna, Inc. (a) | 8,000 | 972,000 | ||||||
| 6,321,149 | ||||||||
| Commercial Services — 0.7% | ||||||||
| Avis Budget Group, Inc. (a) | 600 | 137,202 | ||||||
| FleetCor Technologies, Inc. (a) | 1,500 | 376,620 | ||||||
| Global Payments, Inc. | 2,900 | 285,708 | ||||||
| Robert Half International, Inc. | 1,800 | 135,396 | ||||||
| Service Corp. International | 4,400 | 284,196 | ||||||
| U-Haul Holding Co. (b) | 600 | 33,192 | ||||||
| U-Haul Holding Co. | 5,200 | 263,484 | ||||||
| United Rentals, Inc. | 1,500 | 668,055 | ||||||
| 2,183,853 | ||||||||
| Food — 2.1% | ||||||||
| Campbell Soup Co. | 5,000 | 228,550 | ||||||
| Conagra Brands, Inc. | 70,828 | 2,388,320 | ||||||
| Ingredion, Inc. | 1,400 | 148,330 | ||||||
| Kellogg Co. | 6,400 | 431,360 | ||||||
| Kraft Heinz Co. | 25,500 | 905,250 | ||||||
| Kroger Co. | 14,800 | 695,600 | ||||||
| Tyson Foods, Inc. Class A | 31,386 | 1,601,942 | ||||||
| 6,399,352 | ||||||||
| Health Care – Products — 0.6% | ||||||||
| Zimmer Biomet Holdings, Inc. | 13,004 | 1,893,382 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Services — 4.0% | ||||||||
| DaVita, Inc. (a) | 1,500 | $ | 150,705 | |||||
| Elevance Health, Inc. | 16,737 | 7,436,082 | ||||||
| HCA Healthcare, Inc. | 8,600 | 2,609,928 | ||||||
| Laboratory Corp. of America Holdings | 2,500 | 603,325 | ||||||
| Molina Healthcare, Inc. (a) | 700 | 210,868 | ||||||
| Quest Diagnostics, Inc. | 3,400 | 477,904 | ||||||
| Tenet Healthcare Corp. (a) | 1,700 | 138,346 | ||||||
| Universal Health Services, Inc. Class B | 2,000 | 315,540 | ||||||
| 11,942,698 | ||||||||
| Household Products & Wares — 0.7% | ||||||||
| Kimberly-Clark Corp. | 15,691 | 2,166,299 | ||||||
| Pharmaceuticals — 10.0% | ||||||||
| AbbVie, Inc. | 46,821 | 6,308,193 | ||||||
| AmerisourceBergen Corp. | 5,300 | 1,019,879 | ||||||
| Becton Dickinson & Co. | 15,268 | 4,030,905 | ||||||
| Bristol-Myers Squibb Co. | 44,100 | 2,820,195 | ||||||
| Cardinal Health, Inc. | 5,500 | 520,135 | ||||||
| Cigna Group | 6,900 | 1,936,140 | ||||||
| Henry Schein, Inc. (a) | 2,700 | 218,970 | ||||||
| Johnson & Johnson | 18,711 | 3,097,045 | ||||||
| McKesson Corp. | 4,000 | 1,709,240 | ||||||
| Merck & Co., Inc. | 45,500 | 5,250,245 | ||||||
| Sanofi ADR | 35,903 | 1,935,172 | ||||||
| Viatris, Inc. | 105,827 | 1,056,153 | ||||||
| 29,902,272 | ||||||||
| 70,637,096 | ||||||||
| Energy — 10.8% | ||||||||
| Oil & Gas — 10.0% | ||||||||
| APA Corp. | 6,900 | 235,773 | ||||||
| Chevron Corp. | 32,000 | 5,035,200 | ||||||
| ConocoPhillips | 25,900 | 2,683,499 | ||||||
| EOG Resources, Inc. | 28,567 | 3,269,208 | ||||||
| Exxon Mobil Corp. | 78,900 | 8,462,025 | ||||||
| Marathon Oil Corp. | 14,800 | 340,696 | ||||||
| Marathon Petroleum Corp. | 7,200 | 839,520 | ||||||
| Occidental Petroleum Corp. | 18,900 | 1,111,320 | ||||||
| PDC Energy, Inc. | 2,000 | 142,280 | ||||||
| Phillips 66 | 7,700 | 734,426 | ||||||
| Range Resources Corp. | 4,900 | 144,060 | ||||||
| TotalEnergies SE | 81,272 | 4,657,899 | ||||||
| TotalEnergies SE Sponsored ADR | 22,569 | 1,300,877 | ||||||
| Valero Energy Corp. | 8,100 | 950,130 | ||||||
| 29,906,913 | ||||||||
| Oil & Gas Services — 0.2% | ||||||||
| Halliburton Co. | 15,200 | 501,448 | ||||||
| Nov, Inc. | 4,300 | 68,972 | ||||||
| 570,420 | ||||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Pipelines — 0.6% | ||||||||
| Cheniere Energy, Inc. | 4,100 | $ | 624,676 | |||||
| Kinder Morgan, Inc. | 46,700 | 804,174 | ||||||
| ONEOK, Inc. | 8,400 | 518,448 | ||||||
| 1,947,298 | ||||||||
| 32,424,631 | ||||||||
| Financial — 22.0% | ||||||||
| Banks — 11.0% | ||||||||
| Bank of America Corp. | 166,100 | 4,765,409 | ||||||
| BOK Financial Corp. | 1,400 | 113,092 | ||||||
| Citigroup, Inc. | 26,700 | 1,229,268 | ||||||
| Fifth Third Bancorp | 119,938 | 3,143,575 | ||||||
| Goldman Sachs Group, Inc. | 7,000 | 2,257,780 | ||||||
| JP Morgan Chase & Co. | 60,800 | 8,842,752 | ||||||
| Morgan Stanley | 35,100 | 2,997,540 | ||||||
| Regions Financial Corp. | 19,700 | 351,054 | ||||||
| State Street Corp. | 7,300 | 534,214 | ||||||
| The Bank of New York Mellon Corp. | 17,600 | 783,552 | ||||||
| U.S. Bancorp | 83,692 | 2,765,184 | ||||||
| Wells Fargo & Co. | 120,619 | 5,148,019 | ||||||
| 32,931,439 | ||||||||
| Diversified Financial Services — 2.1% | ||||||||
| American Express Co. | 15,500 | 2,700,100 | ||||||
| Ameriprise Financial, Inc. | 2,300 | 763,968 | ||||||
| Capital One Financial Corp. | 6,400 | 699,968 | ||||||
| Discover Financial Services | 5,800 | 677,730 | ||||||
| LPL Financial Holdings, Inc. | 1,300 | 282,659 | ||||||
| Stifel Financial Corp. | 1,500 | 89,505 | ||||||
| Synchrony Financial | 9,300 | 315,456 | ||||||
| T. Rowe Price Group, Inc. | 4,500 | 504,090 | ||||||
| Voya Financial, Inc. | 2,600 | 186,446 | ||||||
| 6,219,922 | ||||||||
| Insurance — 7.1% | ||||||||
| Aflac, Inc. | 13,900 | 970,220 | ||||||
| American Financial Group, Inc. | 1,700 | 201,875 | ||||||
| American International Group, Inc. | 65,169 | 3,749,824 | ||||||
| Arch Capital Group Ltd. (a) | 8,000 | 598,800 | ||||||
| Chubb Ltd. | 28,000 | 5,391,680 | ||||||
| Cincinnati Financial Corp. | 3,200 | 311,424 | ||||||
| Equitable Holdings, Inc. | 97,673 | 2,652,799 | ||||||
| Everest Re Group Ltd. | 1,000 | 341,860 | ||||||
| Fidelity National Financial, Inc. | 5,800 | 208,800 | ||||||
| First American Financial Corp. | 2,200 | 125,444 | ||||||
| Globe Life, Inc. | 1,900 | 208,278 | ||||||
| Hartford Financial Services Group, Inc. | 7,100 | 511,342 | ||||||
| Loews Corp. | 5,300 | 314,714 | ||||||
| Markel Group, Inc. (a) | 310 | 428,786 | ||||||
| MetLife, Inc. | 17,700 | 1,000,581 | ||||||
| Old Republic International Corp. | 6,500 | 163,605 | ||||||
| Primerica, Inc. | 600 | 118,656 | ||||||
| Principal Financial Group, Inc. | 5,400 | 409,536 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Prudential Financial, Inc. | 7,800 | $ | 688,116 | |||||
| Reinsurance Group of America, Inc. | 1,400 | 194,166 | ||||||
| The Allstate Corp. | 6,000 | 654,240 | ||||||
| Travelers Cos., Inc. | 9,400 | 1,632,404 | ||||||
| Unum Group | 4,200 | 200,340 | ||||||
| W. R. Berkley Corp. | 5,500 | 327,580 | ||||||
| 21,405,070 | ||||||||
| Real Estate — 0.2% | ||||||||
| CBRE Group, Inc. Class A (a) | 6,600 | 532,686 | ||||||
| Jones Lang LaSalle, Inc. (a) | 800 | 124,640 | ||||||
| 657,326 | ||||||||
| Real Estate Investment Trusts (REITS) — 1.6% | ||||||||
| Equity Residential | 38,347 | 2,529,751 | ||||||
| Weyerhaeuser Co. | 72,792 | 2,439,260 | ||||||
| 4,969,011 | ||||||||
| 66,182,768 | ||||||||
| Industrial — 11.8% | ||||||||
| Aerospace & Defense — 2.7% | ||||||||
| Boeing Co. (a) | 9,594 | 2,025,869 | ||||||
| General Dynamics Corp. | 3,700 | 796,055 | ||||||
| L3 Harris Technologies, Inc. | 16,578 | 3,245,475 | ||||||
| Lockheed Martin Corp. | 4,300 | 1,979,634 | ||||||
| 8,047,033 | ||||||||
| Building Materials — 0.5% | ||||||||
| Builders FirstSource, Inc. (a) | 3,100 | 421,600 | ||||||
| Fortune Brands Innovations, Inc. | 2,700 | 194,265 | ||||||
| Masco Corp. | 6,700 | 384,446 | ||||||
| Owens Corning | 2,700 | 352,350 | ||||||
| 1,352,661 | ||||||||
| Electronics — 0.3% | ||||||||
| Arrow Electronics, Inc. (a) | 2,000 | 286,460 | ||||||
| Jabil, Inc. | 3,800 | 410,134 | ||||||
| Sensata Technologies Holding PLC | 3,200 | 143,968 | ||||||
| TD SYNNEX Corp. | 2,100 | 197,400 | ||||||
| 1,037,962 | ||||||||
| Engineering & Construction — 0.0% | ||||||||
| TopBuild Corp. (a) | 400 | 106,408 | ||||||
| Environmental Controls — 0.1% | ||||||||
| Pentair PLC | 3,300 | 213,180 | ||||||
| Hand & Machine Tools — 1.0% | ||||||||
| Regal Rexnord Corp. | 1,100 | 169,290 | ||||||
| Snap-on, Inc. | 1,400 | 403,466 | ||||||
| Stanley Black & Decker, Inc. | 24,571 | 2,302,549 | ||||||
| 2,875,305 | ||||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Machinery – Construction & Mining — 0.7% | ||||||||
| Caterpillar, Inc. | 8,700 | $ | 2,140,635 | |||||
| Oshkosh Corp. | 1,300 | 112,567 | ||||||
| 2,253,202 | ||||||||
| Machinery – Diversified — 1.0% | ||||||||
| AGCO Corp. | 1,500 | 197,130 | ||||||
| CNH Industrial NV | 22,600 | 325,440 | ||||||
| Deere & Co. | 4,900 | 1,985,431 | ||||||
| Dover Corp. | 2,500 | 369,125 | ||||||
| Middleby Corp. (a) | 900 | 133,047 | ||||||
| 3,010,173 | ||||||||
| Metal Fabricate & Hardware — 0.0% | ||||||||
| Timken Co. | 1,200 | 109,836 | ||||||
| Miscellaneous - Manufacturing — 1.7% | ||||||||
| General Electric Co. | 34,101 | 3,745,995 | ||||||
| Parker-Hannifin Corp. | 2,700 | 1,053,108 | ||||||
| Textron, Inc. | 5,800 | 392,254 | ||||||
| 5,191,357 | ||||||||
| Packaging & Containers — 0.5% | ||||||||
| Amcor PLC | 39,800 | 397,204 | ||||||
| Berry Global Group, Inc. | 2,600 | 167,284 | ||||||
| Crown Holdings, Inc. | 3,400 | 295,358 | ||||||
| Graphic Packaging Holding Co. | 6,500 | 156,195 | ||||||
| Packaging Corp. of America | 2,400 | 317,184 | ||||||
| Sonoco Products Co. | 2,000 | 118,040 | ||||||
| 1,451,265 | ||||||||
| Shipbuilding — 0.1% | ||||||||
| Huntington Ingalls Industries, Inc. | 900 | 204,840 | ||||||
| Transportation — 3.2% | ||||||||
| C.H. Robinson Worldwide, Inc. | 2,400 | 226,440 | ||||||
| CSX Corp. | 34,300 | 1,169,630 | ||||||
| Expeditors International of Washington, Inc. | 3,200 | 387,616 | ||||||
| FedEx Corp. | 5,300 | 1,313,870 | ||||||
| Knight-Swift Transportation Holdings, Inc. | 3,200 | 177,792 | ||||||
| Landstar System, Inc. | 800 | 154,032 | ||||||
| Union Pacific Corp. | 7,000 | 1,432,340 | ||||||
| United Parcel Service, Inc. Class B | 26,349 | 4,723,058 | ||||||
| 9,584,778 | ||||||||
| 35,438,000 | ||||||||
| Technology — 9.0% | ||||||||
| Computers — 2.1% | ||||||||
| Accenture PLC Class A | 2,540 | 783,793 | ||||||
| CACI International, Inc. Class A (a) | 400 | 136,336 | ||||||
| Cognizant Technology Solutions Corp. Class A | 8,600 | 561,408 | ||||||
| Dell Technologies, Inc. Class C | 4,900 | 265,139 | ||||||
| DXC Technology Co. (a) | 4,800 | 128,256 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hewlett Packard Enterprise Co. | 32,800 | $ | 551,040 | |||||
| HP, Inc. | 32,700 | 1,004,217 | ||||||
| International Business Machines Corp. | 16,800 | 2,248,008 | ||||||
| Leidos Holdings, Inc. | 2,800 | 247,744 | ||||||
| NetApp, Inc. | 4,000 | 305,600 | ||||||
| 6,231,541 | ||||||||
| Semiconductors — 5.4% | ||||||||
| Applied Materials, Inc. | 17,500 | 2,529,450 | ||||||
| KLA Corp. | 2,700 | 1,309,554 | ||||||
| Lam Research Corp. | 2,800 | 1,800,008 | ||||||
| Micron Technology, Inc. | 22,700 | 1,432,597 | ||||||
| ON Semiconductor Corp. (a) | 7,300 | 690,434 | ||||||
| QUALCOMM, Inc. | 59,905 | 7,131,091 | ||||||
| Samsung Electronics Co. Ltd. | 16,865 | 929,539 | ||||||
| Skyworks Solutions, Inc. | 3,300 | 365,277 | ||||||
| 16,187,950 | ||||||||
| Software — 1.5% | ||||||||
| Fiserv, Inc. (a) | 10,700 | 1,349,805 | ||||||
| Microsoft Corp. | 9,508 | 3,237,854 | ||||||
| 4,587,659 | ||||||||
| 27,007,150 | ||||||||
| Utilities — 4.9% | ||||||||
| Electric — 4.9% | ||||||||
| Alliant Energy Corp. | 5,000 | 262,400 | ||||||
| CenterPoint Energy, Inc. | 8,600 | 250,690 | ||||||
| Consolidated Edison, Inc. | 5,800 | 524,320 | ||||||
| Dominion Energy, Inc. | 49,471 | 2,562,103 | ||||||
| Duke Energy Corp. | 15,600 | 1,399,944 | ||||||
| Edison International | 7,100 | 493,095 | ||||||
| Evergy, Inc. | 4,600 | 268,732 | ||||||
| Eversource Energy | 6,500 | 460,980 | ||||||
| Exelon Corp. | 24,900 | 1,014,426 | ||||||
| OGE Energy Corp. | 4,200 | 150,822 | ||||||
| Pinnacle West Capital Corp. | 2,400 | 195,504 | ||||||
| PPL Corp. | 15,400 | 407,484 | ||||||
| Public Service Enterprise Group, Inc. | 13,400 | 838,974 | ||||||
| Sempra Energy | 6,600 | 960,894 | ||||||
| Southern Co. | 65,931 | 4,631,653 | ||||||
| Vistra Corp. | 9,300 | 244,125 | ||||||
| 14,666,146 | ||||||||
| TOTAL COMMON STOCK (Cost $247,751,296) | 290,841,561 | |||||||
| PREFERRED STOCK — 1.0% | ||||||||
| Consumer, Cyclical — 1.0% | ||||||||
| Auto Manufacturers — 1.0% | ||||||||
| Dr Ing hc F Porsche AG 0.888% (c) | 12,806 | 1,589,419 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Volkswagen AG 22.618% | 11,012 | $ | 1,477,012 | |||||
| 3,066,431 | ||||||||
| TOTAL PREFERRED STOCK (Cost $3,359,725) | 3,066,431 | |||||||
| TOTAL EQUITIES (Cost $251,111,021) | 293,907,992 | |||||||
| MUTUAL FUNDS — 1.2% | ||||||||
| Diversified Financial Services — 1.2% | ||||||||
| iShares Russell 1000 Value ETF | 23,500 | 3,709,005 | ||||||
| TOTAL MUTUAL FUNDS (Cost $3,598,748) | 3,709,005 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $254,709,769) | 297,616,997 | |||||||
| SHORT-TERM INVESTMENTS — 1.2% | ||||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 107 | 107 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 3,471,928 | $ | 3,471,928 | ||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,472,035) | 3,472,035 | |||||||
| TOTAL INVESTMENTS — 100.2% (Cost $258,181,804) (e) | 301,089,032 | |||||||
| Other Assets/(Liabilities) — (0.2)% | (523,332) | |||||||
| NET ASSETS — 100.0% | $ | 300,565,700 | ||||||
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 June 30, 2023, was $62,801 or 0.02% of net assets. The Fund received $64,672 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 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 June 30, 2023, the aggregate market value of these securities amounted to $1,589,419 or 0.53% of net assets. |
| (d) | Maturity value of $3,472,367. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/2025 , and an aggregate market value, including accrued interest, of $3,541,471. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Fundamental Value Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.4% | ||||||||
| COMMON STOCK — 98.4% | ||||||||
| Basic Materials — 4.4% | ||||||||
| Chemicals — 4.4% | ||||||||
| Air Products & Chemicals, Inc. | 21,997 | $ | 6,588,762 | |||||
| Axalta Coating Systems Ltd. (a) | 68,379 | 2,243,515 | ||||||
| DuPont de Nemours, Inc. | 94,348 | 6,740,221 | ||||||
| Element Solutions, Inc. | 83,192 | 1,597,286 | ||||||
| International Flavors & Fragrances, Inc. | 24,304 | 1,934,355 | ||||||
| Olin Corp. | 18,748 | 963,460 | ||||||
| 20,067,599 | ||||||||
| Communications — 6.1% | ||||||||
| Advertising — 0.4% | ||||||||
| Omnicom Group, Inc. | 20,621 | 1,962,088 | ||||||
| Internet — 2.5% | ||||||||
| Alphabet, Inc. Class A (a) | 59,968 | 7,178,170 | ||||||
| Alphabet, Inc. Class C (a) | 16,597 | 2,007,739 | ||||||
| Booking Holdings, Inc. (a) | 777 | 2,098,156 | ||||||
| 11,284,065 | ||||||||
| Media — 1.2% | ||||||||
| Comcast Corp. Class A | 104,483 | 4,341,269 | ||||||
| Warner Bros Discovery, Inc. (a) | 79,978 | 1,002,924 | ||||||
| 5,344,193 | ||||||||
| Telecommunications — 2.0% | ||||||||
| Cisco Systems, Inc. | 108,991 | 5,639,194 | ||||||
| T-Mobile U.S., Inc. (a) | 24,649 | 3,423,746 | ||||||
| 9,062,940 | ||||||||
| 27,653,286 | ||||||||
| Consumer, Cyclical — 6.8% | ||||||||
| Airlines — 0.4% | ||||||||
| Southwest Airlines Co. | 46,585 | 1,686,843 | ||||||
| Auto Parts & Equipment — 0.6% | ||||||||
| Aptiv PLC (a) | 17,135 | 1,749,312 | ||||||
| BorgWarner, Inc. | 20,011 | 978,738 | ||||||
| 2,728,050 | ||||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Distribution & Wholesale — 0.7% | ||||||||
| LKQ Corp. | 36,616 | $ | 2,133,614 | |||||
| WESCO International, Inc. | 7,596 | 1,360,140 | ||||||
| 3,493,754 | ||||||||
| Entertainment — 0.6% | ||||||||
| Marriott Vacations Worldwide Corp. | 8,810 | 1,081,163 | ||||||
| SeaWorld Entertainment, Inc. (a) | 28,063 | 1,571,809 | ||||||
| 2,652,972 | ||||||||
| Food Services — 0.5% | ||||||||
| Aramark | 52,013 | 2,239,160 | ||||||
| Home Furnishing — 0.4% | ||||||||
| Sony Group Corp. Sponsored ADR | 21,673 | 1,951,437 | ||||||
| Lodging — 0.9% | ||||||||
| Las Vegas Sands Corp. (a) | 46,173 | 2,678,034 | ||||||
| MGM Resorts International | 31,396 | 1,378,912 | ||||||
| 4,056,946 | ||||||||
| Retail — 2.7% | ||||||||
| AutoZone, Inc. (a) | 1,714 | 4,273,619 | ||||||
| Dollar General Corp. | 12,143 | 2,061,639 | ||||||
| Lithia Motors, Inc. | 4,553 | 1,384,613 | ||||||
| Ulta Beauty, Inc. (a) | 1,508 | 709,657 | ||||||
| Walmart, Inc. | 25,407 | 3,993,472 | ||||||
| 12,423,000 | ||||||||
| 31,232,162 | ||||||||
| Consumer, Non-cyclical — 26.3% | ||||||||
| Agriculture — 2.2% | ||||||||
| Philip Morris International, Inc. | 101,457 | 9,904,232 | ||||||
| Beverages — 2.5% | ||||||||
| Coca-Cola Europacific Partners PLC | 86,582 | 5,578,479 | ||||||
| Keurig Dr Pepper, Inc. | 115,904 | 3,624,318 | ||||||
| Molson Coors Beverage Co. Class B | 32,887 | 2,165,280 | ||||||
| 11,368,077 | ||||||||
| Biotechnology — 0.8% | ||||||||
| Amgen, Inc. | 10,410 | 2,311,228 | ||||||
| Corteva, Inc. | 22,425 | 1,284,953 | ||||||
| 3,596,181 | ||||||||
| Commercial Services — 1.6% | ||||||||
| FleetCor Technologies, Inc. (a) | 10,509 | 2,638,600 | ||||||
| Global Payments, Inc. | 17,964 | 1,769,813 | ||||||
| United Rentals, Inc. | 7,127 | 3,174,152 | ||||||
| 7,582,565 | ||||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Cosmetics & Personal Care — 0.5% | ||||||||
| Kenvue, Inc. (a) | 8,402 | $ | 221,981 | |||||
| Procter & Gamble Co. | 13,817 | 2,096,591 | ||||||
| 2,318,572 | ||||||||
| Food — 1.0% | ||||||||
| Kroger Co. | 24,544 | 1,153,568 | ||||||
| Tyson Foods, Inc. Class A | 10,610 | 541,534 | ||||||
| U.S. Foods Holding Corp. (a) | 61,598 | 2,710,312 | ||||||
| 4,405,414 | ||||||||
| Health Care – Products — 2.2% | ||||||||
| Avantor, Inc. (a) | 176,364 | 3,622,517 | ||||||
| LivaNova PLC (a) | 18,689 | 961,175 | ||||||
| Medtronic PLC | 60,041 | 5,289,612 | ||||||
| 9,873,304 | ||||||||
| Health Care – Services — 4.2% | ||||||||
| Centene Corp. (a) | 38,024 | 2,564,719 | ||||||
| Elevance Health, Inc. | 3,754 | 1,667,865 | ||||||
| Humana, Inc. | 5,347 | 2,390,804 | ||||||
| ICON PLC (a) | 11,763 | 2,943,102 | ||||||
| UnitedHealth Group, Inc. | 20,178 | 9,698,354 | ||||||
| 19,264,844 | ||||||||
| Pharmaceuticals — 11.3% | ||||||||
| AmerisourceBergen Corp. | 16,710 | 3,215,505 | ||||||
| Becton Dickinson & Co. | 6,052 | 1,597,788 | ||||||
| Bristol-Myers Squibb Co. | 102,137 | 6,531,661 | ||||||
| Cigna Group | 29,760 | 8,350,656 | ||||||
| CVS Health Corp. | 107,729 | 7,447,306 | ||||||
| Johnson & Johnson | 54,350 | 8,996,012 | ||||||
| McKesson Corp. | 4,544 | 1,941,697 | ||||||
| Merck & Co., Inc. | 55,371 | 6,389,260 | ||||||
| Perrigo Co. PLC | 88,706 | 3,011,569 | ||||||
| Sanofi ADR | 81,058 | 4,369,026 | ||||||
| 51,850,480 | ||||||||
| 120,163,669 | ||||||||
| Energy — 10.0% | ||||||||
| Coal — 0.4% | ||||||||
| Peabody Energy Corp. | 47,302 | 1,024,561 | ||||||
| Teck Resources Ltd. Class B | 23,485 | 988,719 | ||||||
| 2,013,280 | ||||||||
| Oil & Gas — 6.5% | ||||||||
| BP PLC Sponsored ADR | 66,209 | 2,336,516 | ||||||
| Canadian Natural Resources Ltd. | 52,447 | 2,950,668 | ||||||
| Cenovus Energy, Inc. | 179,653 | 3,050,508 | ||||||
| ConocoPhillips | 27,979 | 2,898,904 | ||||||
| Hess Corp. | 44,246 | 6,015,244 | ||||||
| Marathon Petroleum Corp. | 30,062 | 3,505,229 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Phillips 66 | 54,465 | $ | 5,194,872 | |||||
| Pioneer Natural Resources Co. | 18,802 | 3,895,398 | ||||||
| 29,847,339 | ||||||||
| Oil & Gas Services — 1.8% | ||||||||
| Halliburton Co. | 142,173 | 4,690,288 | ||||||
| Schlumberger NV | 66,510 | 3,266,971 | ||||||
| 7,957,259 | ||||||||
| Pipelines — 1.3% | ||||||||
| Enbridge, Inc. | 113,484 | 4,215,930 | ||||||
| Plains GP Holdings LP Class A (b) | 120,795 | 1,791,390 | ||||||
| 6,007,320 | ||||||||
| 45,825,198 | ||||||||
| Financial — 17.6% | ||||||||
| Banks — 7.6% | ||||||||
| Goldman Sachs Group, Inc. | 8,610 | 2,777,069 | ||||||
| JP Morgan Chase & Co. | 84,801 | 12,333,458 | ||||||
| M&T Bank Corp. | 24,723 | 3,059,719 | ||||||
| Northern Trust Corp. | 43,193 | 3,202,329 | ||||||
| U.S. Bancorp | 97,723 | 3,228,768 | ||||||
| Wells Fargo & Co. | 235,293 | 10,042,305 | ||||||
| 34,643,648 | ||||||||
| Diversified Financial Services — 1.4% | ||||||||
| AerCap Holdings NV (a) | 26,864 | 1,706,401 | ||||||
| American Express Co. | 6,986 | 1,216,961 | ||||||
| Discover Financial Services | 11,392 | 1,331,155 | ||||||
| Intercontinental Exchange, Inc. | 16,908 | 1,911,957 | ||||||
| 6,166,474 | ||||||||
| Insurance — 7.0% | ||||||||
| American International Group, Inc. | 31,535 | 1,814,524 | ||||||
| Aon PLC Class A | 4,027 | 1,390,120 | ||||||
| Arthur J Gallagher & Co. | 9,402 | 2,064,397 | ||||||
| Axis Capital Holdings Ltd. | 23,252 | 1,251,655 | ||||||
| Berkshire Hathaway, Inc. Class B (a) | 30,389 | 10,362,649 | ||||||
| Chubb Ltd. | 34,235 | 6,592,292 | ||||||
| Progressive Corp. | 8,360 | 1,106,613 | ||||||
| The Allstate Corp. | 51,203 | 5,583,175 | ||||||
| Willis Towers Watson PLC | 8,679 | 2,043,905 | ||||||
| 32,209,330 | ||||||||
| Private Equity — 0.2% | ||||||||
| Ares Management Corp. Class A | 10,723 | 1,033,161 | ||||||
| Real Estate — 0.4% | ||||||||
| Howard Hughes Corp. (a) | 21,233 | 1,675,708 | ||||||
| Real Estate Investment Trusts (REITS) — 1.0% | ||||||||
| Corporate Office Properties Trust | 81,541 | 1,936,599 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| VICI Properties, Inc. | 86,748 | $ | 2,726,490 | |||||
| 4,663,089 | ||||||||
| 80,391,410 | ||||||||
| Industrial — 12.3% | ||||||||
| Aerospace & Defense — 3.0% | ||||||||
| General Dynamics Corp. | 25,959 | 5,585,079 | ||||||
| Howmet Aerospace, Inc. | 59,250 | 2,936,430 | ||||||
| Raytheon Technologies Corp. | 53,997 | 5,289,546 | ||||||
| 13,811,055 | ||||||||
| Building Materials — 2.0% | ||||||||
| CRH PLC Sponsored ADR (b) | 77,314 | 4,308,709 | ||||||
| Knife River Corp. (a) | 15,387 | 669,334 | ||||||
| Masco Corp. | 25,699 | 1,474,609 | ||||||
| MDU Resources Group, Inc. | 61,552 | 1,288,899 | ||||||
| Mohawk Industries, Inc. (a) | 13,663 | 1,409,475 | ||||||
| 9,151,026 | ||||||||
| Electronics — 0.9% | ||||||||
| Allegion PLC | 13,358 | 1,603,227 | ||||||
| Fortive Corp. | 32,972 | 2,465,317 | ||||||
| 4,068,544 | ||||||||
| Engineering & Construction — 0.4% | ||||||||
| AECOM | 21,445 | 1,816,177 | ||||||
| Hand & Machine Tools — 1.3% | ||||||||
| Stanley Black & Decker, Inc. | 61,130 | 5,728,492 | ||||||
| Machinery – Construction & Mining — 1.7% | ||||||||
| BWX Technologies, Inc. | 33,508 | 2,398,168 | ||||||
| Caterpillar, Inc. | 4,857 | 1,195,065 | ||||||
| Vertiv Holdings Co. | 160,124 | 3,966,271 | ||||||
| 7,559,504 | ||||||||
| Machinery – Diversified — 2.0% | ||||||||
| Deere & Co. | 11,344 | 4,596,475 | ||||||
| Dover Corp. | 7,718 | 1,139,563 | ||||||
| Otis Worldwide Corp. | 16,516 | 1,470,089 | ||||||
| Westinghouse Air Brake Technologies Corp. | 17,763 | 1,948,068 | ||||||
| 9,154,195 | ||||||||
| Miscellaneous - Manufacturing — 0.5% | ||||||||
| Eaton Corp. PLC | 12,544 | 2,522,598 | ||||||
| Transportation — 0.5% | ||||||||
| JB Hunt Transport Services, Inc. | 12,017 | 2,175,438 | ||||||
| 55,987,029 | ||||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Technology — 11.5% | ||||||||
| Computers — 2.0% | ||||||||
| CACI International, Inc. Class A (a) | 6,280 | $ | 2,140,475 | |||||
| Cognizant Technology Solutions Corp. Class A | 41,310 | 2,696,717 | ||||||
| Dell Technologies, Inc. Class C | 40,473 | 2,189,994 | ||||||
| Leidos Holdings, Inc. | 20,580 | 1,820,919 | ||||||
| 8,848,105 | ||||||||
| Semiconductors — 5.4% | ||||||||
| Advanced Micro Devices, Inc. (a) | 24,986 | 2,846,155 | ||||||
| Applied Materials, Inc. | 21,127 | 3,053,697 | ||||||
| Broadcom, Inc. | 3,836 | 3,327,462 | ||||||
| Lam Research Corp. | 2,540 | 1,632,864 | ||||||
| Microchip Technology, Inc. | 52,795 | 4,729,904 | ||||||
| Micron Technology, Inc. | 39,386 | 2,485,650 | ||||||
| NXP Semiconductor NV | 4,665 | 954,832 | ||||||
| QUALCOMM, Inc. | 33,215 | 3,953,914 | ||||||
| Skyworks Solutions, Inc. | 16,780 | 1,857,378 | ||||||
| 24,841,856 | ||||||||
| Software — 4.1% | ||||||||
| Activision Blizzard, Inc. (a) | 54,735 | 4,614,160 | ||||||
| Electronic Arts, Inc. | 15,209 | 1,972,607 | ||||||
| Fidelity National Information Services, Inc. | 62,281 | 3,406,771 | ||||||
| Oracle Corp. | 52,510 | 6,253,416 | ||||||
| SS&C Technologies Holdings, Inc. | 30,287 | 1,835,392 | ||||||
| Take-Two Interactive Software, Inc. (a) | 4,773 | 702,395 | ||||||
| 18,784,741 | ||||||||
| 52,474,702 | ||||||||
| Utilities — 3.4% | ||||||||
| Electric — 3.4% | ||||||||
| CenterPoint Energy, Inc. | 103,169 | 3,007,376 | ||||||
| Entergy Corp. | 46,936 | 4,570,158 | ||||||
| Exelon Corp. | 37,700 | 1,535,898 | ||||||
| FirstEnergy Corp. | 56,779 | 2,207,568 | ||||||
| Pinnacle West Capital Corp. | 53,875 | 4,388,658 | ||||||
| 15,709,658 | ||||||||
| TOTAL COMMON STOCK (Cost $377,702,676) | 449,504,713 | |||||||
| TOTAL EQUITIES (Cost $377,702,676) | 449,504,713 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $377,702,676) | 449,504,713 | |||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 2.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.7% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 3,199,759 | $ | 3,199,759 | |||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.5% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 6,971,610 | 6,971,610 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $10,171,369) | 10,171,369 | |||||||
| TOTAL INVESTMENTS — 100.6% (Cost $387,874,045) (e) | 459,676,082 | |||||||
| Other Assets/(Liabilities) — (0.6)% | (2,597,718) | |||||||
| NET ASSETS — 100.0% | $ | 457,078,364 | ||||||
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 June 30, 2023, was $5,983,000 or 1.31% of net assets. The Fund received $2,943,739 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 $6,972,493. Collateralized by U.S. Government Agency obligations with rates ranging from 2.375% - 4.250%, maturity dates ranging from 10/15/25 - 5/15/29, and an aggregate market value, including accrued interest, of $7,111,099. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MM S&P 500 Index Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 99.9% | ||||||||
| COMMON STOCK — 99.9% | ||||||||
| Basic Materials — 2.0% | ||||||||
| Chemicals — 1.6% | ||||||||
| Air Products & Chemicals, Inc. | 15,363 | $ | 4,601,679 | |||||
| Albemarle Corp. | 8,129 | 1,813,499 | ||||||
| Celanese Corp. | 6,846 | 792,767 | ||||||
| CF Industries Holdings, Inc. | 13,217 | 917,524 | ||||||
| Dow, Inc. | 48,531 | 2,584,761 | ||||||
| DuPont de Nemours, Inc. | 31,455 | 2,247,145 | ||||||
| Eastman Chemical Co. | 8,302 | 695,043 | ||||||
| Ecolab, Inc. | 17,116 | 3,195,386 | ||||||
| FMC Corp. | 8,671 | 904,732 | ||||||
| International Flavors & Fragrances, Inc. | 17,633 | 1,403,411 | ||||||
| Linde PLC | 33,770 | 12,869,072 | ||||||
| LyondellBasell Industries NV Class A | 17,405 | 1,598,301 | ||||||
| Mosaic Co. | 22,954 | 803,390 | ||||||
| PPG Industries, Inc. | 16,205 | 2,403,202 | ||||||
| Sherwin-Williams Co. | 16,197 | 4,300,627 | ||||||
| 41,130,539 | ||||||||
| Forest Products & Paper — 0.0% | ||||||||
| International Paper Co. | 24,130 | 767,575 | ||||||
| Iron & Steel — 0.2% | ||||||||
| Nucor Corp. | 17,244 | 2,827,671 | ||||||
| Steel Dynamics, Inc. | 11,178 | 1,217,620 | ||||||
| 4,045,291 | ||||||||
| Mining — 0.2% | ||||||||
| Freeport-McMoRan, Inc. | 98,579 | 3,943,160 | ||||||
| Newmont Corp. | 55,117 | 2,351,291 | ||||||
| 6,294,451 | ||||||||
| 52,237,856 | ||||||||
| Communications — 12.9% | ||||||||
| Advertising — 0.1% | ||||||||
| Interpublic Group of Cos., Inc. | 26,179 | 1,009,986 | ||||||
| Omnicom Group, Inc. | 13,691 | 1,302,699 | ||||||
| 2,312,685 | ||||||||
| Internet — 9.8% | ||||||||
| Alphabet, Inc. Class A (a) | 409,728 | 49,044,442 | ||||||
| Alphabet, Inc. Class C (a) | 352,558 | 42,648,941 | ||||||
| Amazon.com, Inc. (a) | 615,609 | 80,250,789 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Booking Holdings, Inc. (a) | 2,545 | $ | 6,872,340 | |||||
| CDW Corp. | 9,367 | 1,718,845 | ||||||
| eBay, Inc. | 37,186 | 1,661,842 | ||||||
| Etsy, Inc. (a) | 8,601 | 727,731 | ||||||
| Expedia Group, Inc. (a) | 9,901 | 1,083,070 | ||||||
| F5, Inc. (a) | 4,251 | 621,751 | ||||||
| Gen Digital, Inc. | 39,889 | 739,941 | ||||||
| Match Group, Inc. (a) | 19,124 | 800,339 | ||||||
| Meta Platforms, Inc. Class A (a) | 152,580 | 43,787,408 | ||||||
| Netflix, Inc. (a) | 30,684 | 13,515,995 | ||||||
| Palo Alto Networks, Inc. (a) | 20,876 | 5,334,027 | ||||||
| VeriSign, Inc. (a) | 6,219 | 1,405,308 | ||||||
| 250,212,769 | ||||||||
| Media — 1.2% | ||||||||
| Charter Communications, Inc. Class A (a) | 7,117 | 2,614,572 | ||||||
| Comcast Corp. Class A | 286,936 | 11,922,191 | ||||||
| FactSet Research Systems, Inc. | 2,673 | 1,070,937 | ||||||
| Fox Corp. Class A | 18,544 | 630,496 | ||||||
| Fox Corp. Class B | 9,243 | 294,759 | ||||||
| News Corp. Class A | 27,151 | 529,445 | ||||||
| News Corp. Class B | 8,610 | 169,789 | ||||||
| Paramount Global Class B | 35,813 | 569,785 | ||||||
| Walt Disney Co. (a) | 126,049 | 11,253,655 | ||||||
| Warner Bros Discovery, Inc. (a) | 153,730 | 1,927,774 | ||||||
| 30,983,403 | ||||||||
| Telecommunications — 1.8% | ||||||||
| Arista Networks, Inc. (a) | 17,288 | 2,801,693 | ||||||
| AT&T, Inc. | 492,402 | 7,853,812 | ||||||
| Cisco Systems, Inc. | 282,391 | 14,610,910 | ||||||
| Corning, Inc. | 52,349 | 1,834,309 | ||||||
| Juniper Networks, Inc. | 22,006 | 689,448 | ||||||
| Motorola Solutions, Inc. | 11,560 | 3,390,317 | ||||||
| T-Mobile U.S., Inc. (a) | 39,662 | 5,509,052 | ||||||
| Verizon Communications, Inc. | 289,964 | 10,783,761 | ||||||
| 47,473,302 | ||||||||
| 330,982,159 | ||||||||
| Consumer, Cyclical — 9.5% | ||||||||
| Airlines — 0.2% | ||||||||
| Alaska Air Group, Inc. (a) | 8,761 | 465,910 | ||||||
| American Airlines Group, Inc. (a) | 45,152 | 810,027 | ||||||
| Delta Air Lines, Inc. (a) | 44,162 | 2,099,461 | ||||||
| Southwest Airlines Co. | 40,700 | 1,473,747 | ||||||
| United Airlines Holdings, Inc. (a) | 22,731 | 1,247,250 | ||||||
| 6,096,395 | ||||||||
| Apparel — 0.4% | ||||||||
| NIKE, Inc. Class B | 84,967 | 9,377,808 | ||||||
| Ralph Lauren Corp. | 2,898 | 357,323 | ||||||
| Tapestry, Inc. | 16,343 | 699,481 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| VF Corp. | 23,513 | $ | 448,863 | |||||
| 10,883,475 | ||||||||
| Auto Manufacturers — 2.4% | ||||||||
| Cummins, Inc. | 9,801 | 2,402,813 | ||||||
| Ford Motor Co. | 270,274 | 4,089,246 | ||||||
| General Motors Co. | 95,955 | 3,700,025 | ||||||
| PACCAR, Inc. | 35,884 | 3,001,696 | ||||||
| Tesla, Inc. (a) | 185,809 | 48,639,222 | ||||||
| 61,833,002 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Aptiv PLC (a) | 18,672 | 1,906,224 | ||||||
| BorgWarner, Inc. | 16,014 | 783,245 | ||||||
| 2,689,469 | ||||||||
| Distribution & Wholesale — 0.4% | ||||||||
| Copart, Inc. (a) | 29,520 | 2,692,519 | ||||||
| Fastenal Co. | 39,346 | 2,321,021 | ||||||
| LKQ Corp. | 17,341 | 1,010,460 | ||||||
| Pool Corp. | 2,700 | 1,011,528 | ||||||
| W.W. Grainger, Inc. | 3,064 | 2,416,240 | ||||||
| 9,451,768 | ||||||||
| Entertainment — 0.1% | ||||||||
| Caesars Entertainment, Inc. (a) | 15,120 | 770,666 | ||||||
| Live Nation Entertainment, Inc. (a) | 9,879 | 900,076 | ||||||
| 1,670,742 | ||||||||
| Home Builders — 0.3% | ||||||||
| D.R. Horton, Inc. | 21,338 | 2,596,621 | ||||||
| Lennar Corp. Class A | 17,454 | 2,187,161 | ||||||
| NVR, Inc. (a) | 210 | 1,333,630 | ||||||
| PulteGroup, Inc. | 15,378 | 1,194,563 | ||||||
| 7,311,975 | ||||||||
| Home Furnishing — 0.0% | ||||||||
| Whirlpool Corp. | 3,862 | 574,627 | ||||||
| Housewares — 0.0% | ||||||||
| Newell Brands, Inc. | 27,141 | 236,127 | ||||||
| Leisure Time — 0.2% | ||||||||
| Carnival Corp. (a) | 69,980 | 1,317,724 | ||||||
| Norwegian Cruise Line Holdings Ltd. (a) | 30,129 | 655,908 | ||||||
| Royal Caribbean Cruises Ltd. (a) | 15,303 | 1,587,533 | ||||||
| 3,561,165 | ||||||||
| Lodging — 0.4% | ||||||||
| Hilton Worldwide Holdings, Inc. | 18,229 | 2,653,231 | ||||||
| Las Vegas Sands Corp. (a) | 22,404 | 1,299,432 | ||||||
| Marriott International, Inc. Class A | 17,837 | 3,276,478 | ||||||
| MGM Resorts International | 20,778 | 912,570 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Wynn Resorts Ltd. | 7,152 | $ | 755,323 | |||||
| 8,897,034 | ||||||||
| Retail — 5.0% | ||||||||
| Advance Auto Parts, Inc. | 4,174 | 293,432 | ||||||
| AutoZone, Inc. (a) | 1,266 | 3,156,594 | ||||||
| Bath & Body Works, Inc. | 15,338 | 575,175 | ||||||
| Best Buy Co., Inc. | 13,473 | 1,104,112 | ||||||
| CarMax, Inc. (a) | 10,898 | 912,163 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 1,909 | 4,083,351 | ||||||
| Costco Wholesale Corp. | 30,571 | 16,458,815 | ||||||
| Darden Restaurants, Inc. | 8,339 | 1,393,280 | ||||||
| Dollar General Corp. | 15,050 | 2,555,189 | ||||||
| Dollar Tree, Inc. (a) | 14,389 | 2,064,821 | ||||||
| Domino's Pizza, Inc. | 2,459 | 828,658 | ||||||
| Genuine Parts Co. | 9,601 | 1,624,777 | ||||||
| Home Depot, Inc. | 69,875 | 21,705,970 | ||||||
| Lowe's Cos., Inc. | 41,173 | 9,292,746 | ||||||
| McDonald's Corp. | 50,349 | 15,024,645 | ||||||
| O'Reilly Automotive, Inc. (a) | 4,190 | 4,002,707 | ||||||
| Ross Stores, Inc. | 23,469 | 2,631,579 | ||||||
| Starbucks Corp. | 78,997 | 7,825,443 | ||||||
| Target Corp. | 31,884 | 4,205,500 | ||||||
| TJX Cos., Inc. | 79,352 | 6,728,256 | ||||||
| Tractor Supply Co. | 7,592 | 1,678,591 | ||||||
| Ulta Beauty, Inc. (a) | 3,489 | 1,641,906 | ||||||
| Walgreens Boots Alliance, Inc. | 49,532 | 1,411,167 | ||||||
| Walmart, Inc. | 96,772 | 15,210,623 | ||||||
| Yum! Brands, Inc. | 19,263 | 2,668,889 | ||||||
| 129,078,389 | ||||||||
| Toys, Games & Hobbies — 0.0% | ||||||||
| Hasbro, Inc. | 8,948 | 579,562 | ||||||
| 242,863,730 | ||||||||
| Consumer, Non-cyclical — 20.2% | ||||||||
| Agriculture — 0.8% | ||||||||
| Altria Group, Inc. | 123,414 | 5,590,654 | ||||||
| Archer-Daniels-Midland Co. | 37,792 | 2,855,564 | ||||||
| Bunge Ltd. | 10,412 | 982,372 | ||||||
| Philip Morris International, Inc. | 107,059 | 10,451,100 | ||||||
| 19,879,690 | ||||||||
| Beverages — 1.7% | ||||||||
| Brown-Forman Corp. Class B | 12,822 | 856,253 | ||||||
| Coca-Cola Co. | 268,616 | 16,176,056 | ||||||
| Constellation Brands, Inc. Class A | 11,190 | 2,754,195 | ||||||
| Keurig Dr Pepper, Inc. | 58,535 | 1,830,389 | ||||||
| Molson Coors Beverage Co. Class B | 12,774 | 841,040 | ||||||
| Monster Beverage Corp. (a) | 52,404 | 3,010,086 | ||||||
| PepsiCo, Inc. | 94,997 | 17,595,344 | ||||||
| 43,063,363 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Biotechnology — 1.5% | ||||||||
| Amgen, Inc. | 36,824 | $ | 8,175,664 | |||||
| Bio-Rad Laboratories, Inc. Class A (a) | 1,513 | 573,608 | ||||||
| Biogen, Inc. (a) | 9,971 | 2,840,239 | ||||||
| Corteva, Inc. | 48,812 | 2,796,928 | ||||||
| Gilead Sciences, Inc. | 85,972 | 6,625,862 | ||||||
| Illumina, Inc. (a) | 10,943 | 2,051,703 | ||||||
| Incyte Corp. (a) | 12,888 | 802,278 | ||||||
| Moderna, Inc. (a) | 22,516 | 2,735,694 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 7,440 | 5,345,938 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 17,771 | 6,253,793 | ||||||
| 38,201,707 | ||||||||
| Commercial Services — 1.7% | ||||||||
| Automatic Data Processing, Inc. | 28,474 | 6,258,300 | ||||||
| Cintas Corp. | 5,960 | 2,962,597 | ||||||
| CoStar Group, Inc. (a) | 28,092 | 2,500,188 | ||||||
| Equifax, Inc. | 8,395 | 1,975,344 | ||||||
| FleetCor Technologies, Inc. (a) | 5,114 | 1,284,023 | ||||||
| Gartner, Inc. (a) | 5,409 | 1,894,827 | ||||||
| Global Payments, Inc. | 18,211 | 1,794,148 | ||||||
| MarketAxess Holdings, Inc. | 2,648 | 692,240 | ||||||
| Moody's Corp. | 10,851 | 3,773,110 | ||||||
| PayPal Holdings, Inc. (a) | 76,796 | 5,124,597 | ||||||
| Quanta Services, Inc. | 9,983 | 1,961,160 | ||||||
| Robert Half International, Inc. | 7,355 | 553,243 | ||||||
| Rollins, Inc. | 16,022 | 686,222 | ||||||
| S&P Global, Inc. | 22,616 | 9,066,528 | ||||||
| United Rentals, Inc. | 4,781 | 2,129,314 | ||||||
| Verisk Analytics, Inc. | 9,956 | 2,250,355 | ||||||
| 44,906,196 | ||||||||
| Cosmetics & Personal Care — 1.3% | ||||||||
| Colgate-Palmolive Co. | 57,198 | 4,406,534 | ||||||
| Estee Lauder Cos., Inc. Class A | 15,937 | 3,129,708 | ||||||
| Procter & Gamble Co. | 162,595 | 24,672,165 | ||||||
| 32,208,407 | ||||||||
| Food — 1.1% | ||||||||
| Campbell Soup Co. | 14,221 | 650,042 | ||||||
| Conagra Brands, Inc. | 33,361 | 1,124,933 | ||||||
| General Mills, Inc. | 40,520 | 3,107,884 | ||||||
| Hershey Co. | 10,130 | 2,529,461 | ||||||
| Hormel Foods Corp. | 20,243 | 814,173 | ||||||
| Kellogg Co. | 17,903 | 1,206,662 | ||||||
| Kraft Heinz Co. | 55,416 | 1,967,268 | ||||||
| Kroger Co. | 44,939 | 2,112,133 | ||||||
| Lamb Weston Holdings, Inc. | 10,162 | 1,168,122 | ||||||
| McCormick & Co., Inc. | 17,188 | 1,499,309 | ||||||
| Mondelez International, Inc. Class A | 93,806 | 6,842,210 | ||||||
| Sysco Corp. | 35,150 | 2,608,130 | ||||||
| The J.M. Smucker Co. | 7,252 | 1,070,903 | ||||||
| Tyson Foods, Inc. Class A | 19,966 | 1,019,065 | ||||||
| 27,720,295 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Products — 3.7% | ||||||||
| Abbott Laboratories | 119,814 | $ | 13,062,122 | |||||
| Align Technology, Inc. (a) | 4,879 | 1,725,410 | ||||||
| Baxter International, Inc. | 34,841 | 1,587,356 | ||||||
| Bio-Techne Corp. | 10,930 | 892,216 | ||||||
| Boston Scientific Corp. (a) | 99,397 | 5,376,384 | ||||||
| Danaher Corp. | 45,830 | 10,999,200 | ||||||
| Dentsply Sirona, Inc. | 14,768 | 591,015 | ||||||
| Edwards Lifesciences Corp. (a) | 41,999 | 3,961,766 | ||||||
| GE HealthCare Technologies, Inc. (a) | 27,122 | 2,203,391 | ||||||
| Hologic, Inc. (a) | 16,897 | 1,368,150 | ||||||
| IDEXX Laboratories, Inc. (a) | 5,749 | 2,887,320 | ||||||
| Insulet Corp. (a) | 4,758 | 1,371,922 | ||||||
| Intuitive Surgical, Inc. (a) | 24,176 | 8,266,741 | ||||||
| Medtronic PLC | 91,795 | 8,087,139 | ||||||
| ResMed, Inc. | 10,176 | 2,223,456 | ||||||
| Revvity, Inc. | 8,590 | 1,020,406 | ||||||
| Steris PLC | 6,924 | 1,557,762 | ||||||
| Stryker Corp. | 23,303 | 7,109,512 | ||||||
| Teleflex, Inc. | 3,207 | 776,190 | ||||||
| The Cooper Cos., Inc. | 3,439 | 1,318,616 | ||||||
| Thermo Fisher Scientific, Inc. | 26,572 | 13,863,941 | ||||||
| Waters Corp. (a) | 4,064 | 1,083,219 | ||||||
| West Pharmaceutical Services, Inc. | 5,135 | 1,963,983 | ||||||
| Zimmer Biomet Holdings, Inc. | 14,343 | 2,088,341 | ||||||
| 95,385,558 | ||||||||
| Health Care – Services — 2.2% | ||||||||
| Catalent, Inc. (a) | 12,240 | 530,726 | ||||||
| Centene Corp. (a) | 37,647 | 2,539,290 | ||||||
| Charles River Laboratories International, Inc. (a) | 3,531 | 742,393 | ||||||
| DaVita, Inc. (a) | 3,993 | 401,177 | ||||||
| Elevance Health, Inc. | 16,347 | 7,262,809 | ||||||
| HCA Healthcare, Inc. | 14,215 | 4,313,968 | ||||||
| Humana, Inc. | 8,593 | 3,842,188 | ||||||
| IQVIA Holdings, Inc. (a) | 12,844 | 2,886,946 | ||||||
| Laboratory Corp. of America Holdings | 6,100 | 1,472,113 | ||||||
| Molina Healthcare, Inc. (a) | 4,062 | 1,223,637 | ||||||
| Quest Diagnostics, Inc. | 7,638 | 1,073,597 | ||||||
| UnitedHealth Group, Inc. | 64,259 | 30,885,446 | ||||||
| Universal Health Services, Inc. Class B | 4,303 | 678,884 | ||||||
| 57,853,174 | ||||||||
| Household Products & Wares — 0.3% | ||||||||
| Avery Dennison Corp. | 5,532 | 950,398 | ||||||
| Church & Dwight Co., Inc. | 16,826 | 1,686,470 | ||||||
| Clorox Co. | 8,545 | 1,358,997 | ||||||
| Kimberly-Clark Corp. | 23,252 | 3,210,171 | ||||||
| 7,206,036 | ||||||||
| Pharmaceuticals — 5.9% | ||||||||
| AbbVie, Inc. | 121,667 | 16,392,195 | ||||||
| AmerisourceBergen Corp. | 11,212 | 2,157,525 | ||||||
| Becton Dickinson & Co. | 19,589 | 5,171,692 | ||||||
| Bristol-Myers Squibb Co. | 145,027 | 9,274,477 | ||||||
| Cardinal Health, Inc. | 17,464 | 1,651,570 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Cigna Group | 20,378 | $ | 5,718,067 | |||||
| CVS Health Corp. | 88,323 | 6,105,769 | ||||||
| Dexcom, Inc. (a) | 26,653 | 3,425,177 | ||||||
| Eli Lilly & Co. | 54,366 | 25,496,567 | ||||||
| Henry Schein, Inc. (a) | 8,935 | 724,628 | ||||||
| Johnson & Johnson | 179,325 | 29,681,874 | ||||||
| McKesson Corp. | 9,345 | 3,993,212 | ||||||
| Merck & Co., Inc. | 175,135 | 20,208,828 | ||||||
| Organon & Co. | 18,329 | 381,426 | ||||||
| Pfizer, Inc. | 389,594 | 14,290,308 | ||||||
| Viatris, Inc. | 81,434 | 812,711 | ||||||
| Zoetis, Inc. | 31,805 | 5,477,139 | ||||||
| 150,963,165 | ||||||||
| 517,387,591 | ||||||||
| Energy — 4.2% | ||||||||
| Energy – Alternate Sources — 0.1% | ||||||||
| Enphase Energy, Inc. (a) | 9,497 | 1,590,557 | ||||||
| First Solar, Inc. (a) | 6,876 | 1,307,059 | ||||||
| SolarEdge Technologies, Inc. (a) | 3,940 | 1,060,057 | ||||||
| 3,957,673 | ||||||||
| Oil & Gas — 3.4% | ||||||||
| APA Corp. | 21,399 | 731,204 | ||||||
| Chevron Corp. | 120,286 | 18,927,002 | ||||||
| ConocoPhillips | 83,294 | 8,630,091 | ||||||
| Coterra Energy, Inc. | 52,868 | 1,337,560 | ||||||
| Devon Energy Corp. | 43,891 | 2,121,691 | ||||||
| Diamondback Energy, Inc. | 12,587 | 1,653,428 | ||||||
| EOG Resources, Inc. | 40,411 | 4,624,635 | ||||||
| EQT Corp. | 25,358 | 1,042,975 | ||||||
| Exxon Mobil Corp. | 278,882 | 29,910,095 | ||||||
| Hess Corp. | 19,194 | 2,609,424 | ||||||
| Marathon Oil Corp. | 42,933 | 988,318 | ||||||
| Marathon Petroleum Corp. | 29,175 | 3,401,805 | ||||||
| Occidental Petroleum Corp. | 49,334 | 2,900,839 | ||||||
| Phillips 66 | 31,511 | 3,005,519 | ||||||
| Pioneer Natural Resources Co. | 16,062 | 3,327,725 | ||||||
| Valero Energy Corp. | 24,822 | 2,911,621 | ||||||
| 88,123,932 | ||||||||
| Oil & Gas Services — 0.4% | ||||||||
| Baker Hughes Co. | 70,121 | 2,216,525 | ||||||
| Halliburton Co. | 62,372 | 2,057,652 | ||||||
| Schlumberger NV | 98,105 | 4,818,918 | ||||||
| 9,093,095 | ||||||||
| Pipelines — 0.3% | ||||||||
| Kinder Morgan, Inc. | 136,882 | 2,357,108 | ||||||
| ONEOK, Inc. | 31,054 | 1,916,653 | ||||||
| Targa Resources Corp. | 15,429 | 1,174,147 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Williams Cos., Inc. | 83,600 | $ | 2,727,868 | |||||
| 8,175,776 | ||||||||
| 109,350,476 | ||||||||
| Financial — 13.5% | ||||||||
| Banks — 3.8% | ||||||||
| Bank of America Corp. | 478,381 | 13,724,751 | ||||||
| Citigroup, Inc. | 134,121 | 6,174,931 | ||||||
| Citizens Financial Group, Inc. | 33,827 | 882,208 | ||||||
| Comerica, Inc. | 9,176 | 388,695 | ||||||
| Fifth Third Bancorp | 47,162 | 1,236,116 | ||||||
| Goldman Sachs Group, Inc. | 22,912 | 7,390,036 | ||||||
| Huntington Bancshares, Inc. | 98,887 | 1,066,002 | ||||||
| JP Morgan Chase & Co. | 201,592 | 29,319,540 | ||||||
| KeyCorp. | 63,649 | 588,117 | ||||||
| M&T Bank Corp. | 11,567 | 1,431,532 | ||||||
| Morgan Stanley | 89,773 | 7,666,614 | ||||||
| Northern Trust Corp. | 14,297 | 1,059,980 | ||||||
| PNC Financial Services Group, Inc. | 27,433 | 3,455,186 | ||||||
| Regions Financial Corp. | 65,319 | 1,163,985 | ||||||
| State Street Corp. | 23,227 | 1,699,752 | ||||||
| The Bank of New York Mellon Corp. | 49,875 | 2,220,435 | ||||||
| Truist Financial Corp. | 91,296 | 2,770,834 | ||||||
| U.S. Bancorp | 95,835 | 3,166,388 | ||||||
| Wells Fargo & Co. | 258,806 | 11,045,840 | ||||||
| Zions Bancorp NA | 10,489 | 281,735 | ||||||
| 96,732,677 | ||||||||
| Diversified Financial Services — 3.6% | ||||||||
| American Express Co. | 40,977 | 7,138,193 | ||||||
| Ameriprise Financial, Inc. | 7,238 | 2,404,174 | ||||||
| BlackRock, Inc. | 10,318 | 7,131,183 | ||||||
| Capital One Financial Corp. | 26,246 | 2,870,525 | ||||||
| Cboe Global Markets, Inc. | 7,296 | 1,006,921 | ||||||
| Charles Schwab Corp. | 102,396 | 5,803,805 | ||||||
| CME Group, Inc. | 24,776 | 4,590,745 | ||||||
| Discover Financial Services | 17,399 | 2,033,073 | ||||||
| Franklin Resources, Inc. | 19,879 | 530,968 | ||||||
| Intercontinental Exchange, Inc. | 38,522 | 4,356,068 | ||||||
| Invesco Ltd. | 32,219 | 541,601 | ||||||
| Mastercard, Inc. Class A | 57,701 | 22,693,803 | ||||||
| Nasdaq, Inc. | 23,043 | 1,148,694 | ||||||
| Raymond James Financial, Inc. | 13,249 | 1,374,849 | ||||||
| Synchrony Financial | 29,901 | 1,014,242 | ||||||
| T. Rowe Price Group, Inc. | 15,508 | 1,737,206 | ||||||
| Visa, Inc. Class A | 111,614 | 26,506,093 | ||||||
| 92,882,143 | ||||||||
| Insurance — 3.7% | ||||||||
| Aflac, Inc. | 38,063 | 2,656,797 | ||||||
| American International Group, Inc. | 50,214 | 2,889,314 | ||||||
| Aon PLC Class A | 14,070 | 4,856,964 | ||||||
| Arch Capital Group Ltd. (a) | 25,866 | 1,936,070 | ||||||
| Arthur J Gallagher & Co. | 14,716 | 3,231,192 | ||||||
| Assurant, Inc. | 3,704 | 465,667 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Berkshire Hathaway, Inc. Class B (a) | 123,061 | $ | 41,963,801 | |||||
| Brown & Brown, Inc. | 16,438 | 1,131,592 | ||||||
| Chubb Ltd. | 28,523 | 5,492,389 | ||||||
| Cincinnati Financial Corp. | 10,692 | 1,040,545 | ||||||
| Everest Re Group Ltd. | 2,923 | 999,257 | ||||||
| Globe Life, Inc. | 5,976 | 655,089 | ||||||
| Hartford Financial Services Group, Inc. | 21,271 | 1,531,937 | ||||||
| Lincoln National Corp. | 11,351 | 292,402 | ||||||
| Loews Corp. | 12,857 | 763,449 | ||||||
| Marsh & McLennan Cos., Inc. | 34,153 | 6,423,496 | ||||||
| MetLife, Inc. | 44,524 | 2,516,942 | ||||||
| Principal Financial Group, Inc. | 15,625 | 1,185,000 | ||||||
| Progressive Corp. | 40,367 | 5,343,380 | ||||||
| Prudential Financial, Inc. | 25,182 | 2,221,556 | ||||||
| The Allstate Corp. | 18,226 | 1,987,363 | ||||||
| Travelers Cos., Inc. | 15,921 | 2,764,841 | ||||||
| W. R. Berkley Corp. | 14,003 | 834,019 | ||||||
| Willis Towers Watson PLC | 7,375 | 1,736,812 | ||||||
| 94,919,874 | ||||||||
| Real Estate — 0.1% | ||||||||
| CBRE Group, Inc. Class A (a) | 21,532 | 1,737,848 | ||||||
| Real Estate Investment Trusts (REITS) — 2.3% | ||||||||
| Alexandria Real Estate Equities, Inc. | 10,817 | 1,227,621 | ||||||
| American Tower Corp. | 32,235 | 6,251,656 | ||||||
| AvalonBay Communities, Inc. | 9,757 | 1,846,707 | ||||||
| Boston Properties, Inc. | 10,064 | 579,586 | ||||||
| Camden Property Trust | 7,421 | 807,924 | ||||||
| Crown Castle, Inc. | 29,804 | 3,395,868 | ||||||
| Digital Realty Trust, Inc. | 19,935 | 2,269,998 | ||||||
| Equinix, Inc. | 6,438 | 5,047,006 | ||||||
| Equity Residential | 23,619 | 1,558,145 | ||||||
| Essex Property Trust, Inc. | 4,499 | 1,054,116 | ||||||
| Extra Space Storage, Inc. | 9,421 | 1,402,316 | ||||||
| Federal Realty Investment Trust | 4,879 | 472,141 | ||||||
| Healthpeak Properties, Inc. | 37,979 | 763,378 | ||||||
| Host Hotels & Resorts, Inc. | 50,073 | 842,729 | ||||||
| Invitation Homes, Inc. | 39,643 | 1,363,719 | ||||||
| Iron Mountain, Inc. | 19,914 | 1,131,513 | ||||||
| Kimco Realty Corp. | 43,624 | 860,265 | ||||||
| Mid-America Apartment Communities, Inc. | 8,076 | 1,226,421 | ||||||
| Prologis, Inc. | 63,554 | 7,793,627 | ||||||
| Public Storage | 10,871 | 3,173,027 | ||||||
| Realty Income Corp. | 46,668 | 2,790,280 | ||||||
| Regency Centers Corp. | 10,845 | 669,896 | ||||||
| SBA Communications Corp. | 7,461 | 1,729,161 | ||||||
| Simon Property Group, Inc. | 22,399 | 2,586,637 | ||||||
| UDR, Inc. | 21,725 | 933,306 | ||||||
| Ventas, Inc. | 27,258 | 1,288,486 | ||||||
| VICI Properties, Inc. | 68,825 | 2,163,170 | ||||||
| Welltower, Inc. | 34,452 | 2,786,822 | ||||||
| Weyerhaeuser Co. | 50,219 | 1,682,839 | ||||||
| 59,698,360 | ||||||||
| 345,970,902 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Industrial — 7.7% | ||||||||
| Aerospace & Defense — 1.6% | ||||||||
| Boeing Co. (a) | 38,985 | $ | 8,232,073 | |||||
| General Dynamics Corp. | 15,522 | 3,339,558 | ||||||
| Howmet Aerospace, Inc. | 25,225 | 1,250,151 | ||||||
| L3 Harris Technologies, Inc. | 13,139 | 2,572,222 | ||||||
| Lockheed Martin Corp. | 15,541 | 7,154,766 | ||||||
| Northrop Grumman Corp. | 9,843 | 4,486,439 | ||||||
| Raytheon Technologies Corp. | 100,767 | 9,871,135 | ||||||
| TransDigm Group, Inc. | 3,581 | 3,202,023 | ||||||
| 40,108,367 | ||||||||
| Building Materials — 0.6% | ||||||||
| Carrier Global Corp. | 57,449 | 2,855,790 | ||||||
| Johnson Controls International PLC | 47,137 | 3,211,915 | ||||||
| Martin Marietta Materials, Inc. | 4,253 | 1,963,568 | ||||||
| Masco Corp. | 15,353 | 880,955 | ||||||
| Mohawk Industries, Inc. (a) | 3,475 | 358,481 | ||||||
| Trane Technologies PLC | 15,662 | 2,995,514 | ||||||
| Vulcan Materials Co. | 9,173 | 2,067,961 | ||||||
| 14,334,184 | ||||||||
| Electrical Components & Equipment — 0.3% | ||||||||
| AMETEK, Inc. | 15,948 | 2,581,662 | ||||||
| Emerson Electric Co. | 39,291 | 3,551,514 | ||||||
| Generac Holdings, Inc. (a) | 4,255 | 634,548 | ||||||
| 6,767,724 | ||||||||
| Electronics — 1.1% | ||||||||
| Agilent Technologies, Inc. | 20,441 | 2,458,030 | ||||||
| Allegion PLC | 6,027 | 723,361 | ||||||
| Amphenol Corp. Class A | 41,196 | 3,499,600 | ||||||
| Fortive Corp. | 24,180 | 1,807,939 | ||||||
| Garmin Ltd. | 10,650 | 1,110,688 | ||||||
| Honeywell International, Inc. | 45,932 | 9,530,890 | ||||||
| Keysight Technologies, Inc. (a) | 12,214 | 2,045,234 | ||||||
| Mettler-Toledo International, Inc. (a) | 1,525 | 2,000,251 | ||||||
| TE Connectivity Ltd. | 21,726 | 3,045,116 | ||||||
| Trimble, Inc. (a) | 17,158 | 908,345 | ||||||
| 27,129,454 | ||||||||
| Engineering & Construction — 0.0% | ||||||||
| Jacobs Solutions, Inc. | 8,747 | 1,039,931 | ||||||
| Environmental Controls — 0.3% | ||||||||
| Pentair PLC | 11,537 | 745,290 | ||||||
| Republic Services, Inc. | 14,244 | 2,181,753 | ||||||
| Waste Management, Inc. | 25,478 | 4,418,395 | ||||||
| 7,345,438 | ||||||||
| Hand & Machine Tools — 0.1% | ||||||||
| Snap-on, Inc. | 3,698 | 1,065,727 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Stanley Black & Decker, Inc. | 10,468 | $ | 980,956 | |||||
| 2,046,683 | ||||||||
| Machinery – Construction & Mining — 0.3% | ||||||||
| Caterpillar, Inc. | 35,541 | 8,744,863 | ||||||
| Machinery – Diversified — 0.8% | ||||||||
| Deere & Co. | 18,604 | 7,538,155 | ||||||
| Dover Corp. | 9,752 | 1,439,883 | ||||||
| IDEX Corp. | 5,173 | 1,113,540 | ||||||
| Ingersoll Rand, Inc. | 28,035 | 1,832,367 | ||||||
| Nordson Corp. | 3,729 | 925,463 | ||||||
| Otis Worldwide Corp. | 28,696 | 2,554,231 | ||||||
| Rockwell Automation, Inc. | 7,965 | 2,624,069 | ||||||
| Westinghouse Air Brake Technologies Corp. | 12,428 | 1,362,979 | ||||||
| Xylem, Inc. | 16,492 | 1,857,329 | ||||||
| 21,248,016 | ||||||||
| Miscellaneous - Manufacturing — 1.1% | ||||||||
| 3M Co. | 37,940 | 3,797,415 | ||||||
| A.O. Smith Corp. | 8,591 | 625,253 | ||||||
| Axon Enterprise, Inc. (a) | 4,899 | 955,893 | ||||||
| Eaton Corp. PLC | 27,556 | 5,541,511 | ||||||
| General Electric Co. | 75,079 | 8,247,428 | ||||||
| Illinois Tool Works, Inc. | 19,111 | 4,780,808 | ||||||
| Parker-Hannifin Corp. | 8,893 | 3,468,626 | ||||||
| Teledyne Technologies, Inc. (a) | 3,287 | 1,351,318 | ||||||
| Textron, Inc. | 13,721 | 927,951 | ||||||
| 29,696,203 | ||||||||
| Packaging & Containers — 0.1% | ||||||||
| Amcor PLC | 101,909 | 1,017,052 | ||||||
| Ball Corp. | 21,584 | 1,256,405 | ||||||
| Packaging Corp. of America | 6,201 | 819,524 | ||||||
| Sealed Air Corp. | 9,602 | 384,080 | ||||||
| WestRock Co. | 18,105 | 526,312 | ||||||
| 4,003,373 | ||||||||
| Shipbuilding — 0.0% | ||||||||
| Huntington Ingalls Industries, Inc. | 2,676 | 609,058 | ||||||
| Transportation — 1.4% | ||||||||
| C.H. Robinson Worldwide, Inc. | 7,856 | 741,214 | ||||||
| CSX Corp. | 140,577 | 4,793,676 | ||||||
| Expeditors International of Washington, Inc. | 10,670 | 1,292,457 | ||||||
| FedEx Corp. | 15,902 | 3,942,106 | ||||||
| JB Hunt Transport Services, Inc. | 5,683 | 1,028,794 | ||||||
| Norfolk Southern Corp. | 15,769 | 3,575,778 | ||||||
| Old Dominion Freight Line, Inc. | 6,240 | 2,307,240 | ||||||
| Union Pacific Corp. | 42,036 | 8,601,406 | ||||||
| United Parcel Service, Inc. Class B | 50,029 | 8,967,698 | ||||||
| 35,250,369 | ||||||||
| 198,323,663 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Technology — 27.3% | ||||||||
| Computers — 9.1% | ||||||||
| Accenture PLC Class A | 43,596 | $ | 13,452,854 | |||||
| Apple, Inc. | 1,019,954 | 197,840,477 | ||||||
| Cognizant Technology Solutions Corp. Class A | 34,781 | 2,270,504 | ||||||
| DXC Technology Co. (a) | 16,034 | 428,428 | ||||||
| EPAM Systems, Inc. (a) | 4,034 | 906,642 | ||||||
| Fortinet, Inc. (a) | 45,056 | 3,405,783 | ||||||
| Hewlett Packard Enterprise Co. | 89,778 | 1,508,270 | ||||||
| HP, Inc. | 59,556 | 1,828,965 | ||||||
| International Business Machines Corp. | 62,603 | 8,376,907 | ||||||
| Leidos Holdings, Inc. | 9,604 | 849,762 | ||||||
| NetApp, Inc. | 14,763 | 1,127,893 | ||||||
| Seagate Technology Holdings PLC | 13,225 | 818,231 | ||||||
| Western Digital Corp. (a) | 21,607 | 819,554 | ||||||
| 233,634,270 | ||||||||
| Office & Business Equipment — 0.1% | ||||||||
| Zebra Technologies Corp. Class A (a) | 3,519 | 1,041,026 | ||||||
| Semiconductors — 7.2% | ||||||||
| Advanced Micro Devices, Inc. (a) | 111,126 | 12,658,363 | ||||||
| Analog Devices, Inc. | 34,953 | 6,809,194 | ||||||
| Applied Materials, Inc. | 58,295 | 8,425,959 | ||||||
| Broadcom, Inc. | 28,772 | 24,957,696 | ||||||
| Intel Corp. | 287,645 | 9,618,849 | ||||||
| KLA Corp. | 9,463 | 4,589,744 | ||||||
| Lam Research Corp. | 9,268 | 5,958,026 | ||||||
| Microchip Technology, Inc. | 37,636 | 3,371,809 | ||||||
| Micron Technology, Inc. | 75,437 | 4,760,829 | ||||||
| Monolithic Power Systems, Inc. | 3,094 | 1,671,472 | ||||||
| NVIDIA Corp. | 170,597 | 72,165,943 | ||||||
| NXP Semiconductor NV | 17,856 | 3,654,766 | ||||||
| ON Semiconductor Corp. (a) | 29,673 | 2,806,472 | ||||||
| Qorvo, Inc. (a) | 6,926 | 706,660 | ||||||
| QUALCOMM, Inc. | 76,896 | 9,153,700 | ||||||
| Skyworks Solutions, Inc. | 10,852 | 1,201,208 | ||||||
| Teradyne, Inc. | 10,687 | 1,189,784 | ||||||
| Texas Instruments, Inc. | 62,594 | 11,268,172 | ||||||
| 184,968,646 | ||||||||
| Software — 10.9% | ||||||||
| Activision Blizzard, Inc. (a) | 49,364 | 4,161,385 | ||||||
| Adobe, Inc. (a) | 31,623 | 15,463,331 | ||||||
| Akamai Technologies, Inc. (a) | 10,615 | 953,970 | ||||||
| ANSYS, Inc. (a) | 6,005 | 1,983,271 | ||||||
| Autodesk, Inc. (a) | 14,779 | 3,023,931 | ||||||
| Broadridge Financial Solutions, Inc. | 8,100 | 1,341,603 | ||||||
| Cadence Design Systems, Inc. (a) | 18,804 | 4,409,914 | ||||||
| Ceridian HCM Holding, Inc. (a) | 10,572 | 708,007 | ||||||
| Electronic Arts, Inc. | 17,925 | 2,324,873 | ||||||
| Fair Isaac Corp. (a) | 1,715 | 1,387,795 | ||||||
| Fidelity National Information Services, Inc. | 40,529 | 2,216,936 | ||||||
| Fiserv, Inc. (a) | 42,504 | 5,361,880 | ||||||
| Intuit, Inc. | 19,313 | 8,849,024 | ||||||
| Jack Henry & Associates, Inc. | 4,992 | 835,311 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Microsoft Corp. | 512,924 | $ | 174,671,139 | |||||
| MSCI, Inc. | 5,517 | 2,589,073 | ||||||
| Oracle Corp. | 106,159 | 12,642,475 | ||||||
| Paychex, Inc. | 22,243 | 2,488,325 | ||||||
| Paycom Software, Inc. | 3,372 | 1,083,221 | ||||||
| PTC, Inc. (a) | 7,428 | 1,057,004 | ||||||
| Roper Technologies, Inc. | 7,339 | 3,528,591 | ||||||
| Salesforce, Inc. (a) | 67,555 | 14,271,669 | ||||||
| ServiceNow, Inc. (a) | 14,044 | 7,892,307 | ||||||
| Synopsys, Inc. (a) | 10,495 | 4,569,628 | ||||||
| Take-Two Interactive Software, Inc. (a) | 10,855 | 1,597,422 | ||||||
| Tyler Technologies, Inc. (a) | 2,892 | 1,204,431 | ||||||
| 280,616,516 | ||||||||
| 700,260,458 | ||||||||
| Utilities — 2.6% | ||||||||
| Electric — 2.4% | ||||||||
| AES Corp. | 45,831 | 950,077 | ||||||
| Alliant Energy Corp. | 17,276 | 906,644 | ||||||
| Ameren Corp. | 18,184 | 1,485,087 | ||||||
| American Electric Power Co., Inc. | 35,358 | 2,977,144 | ||||||
| CenterPoint Energy, Inc. | 43,363 | 1,264,031 | ||||||
| CMS Energy Corp. | 20,186 | 1,185,928 | ||||||
| Consolidated Edison, Inc. | 24,015 | 2,170,956 | ||||||
| Constellation Energy Corp. | 22,473 | 2,057,403 | ||||||
| Dominion Energy, Inc. | 57,327 | 2,968,965 | ||||||
| DTE Energy Co. | 14,275 | 1,570,535 | ||||||
| Duke Energy Corp. | 53,051 | 4,760,797 | ||||||
| Edison International | 26,640 | 1,850,148 | ||||||
| Entergy Corp. | 14,628 | 1,424,328 | ||||||
| Evergy, Inc. | 15,752 | 920,232 | ||||||
| Eversource Energy | 24,118 | 1,710,449 | ||||||
| Exelon Corp. | 68,264 | 2,781,075 | ||||||
| FirstEnergy Corp. | 37,783 | 1,469,003 | ||||||
| NextEra Energy, Inc. | 139,708 | 10,366,334 | ||||||
| NRG Energy, Inc. | 15,738 | 588,444 | ||||||
| PG&E Corp. (a) | 112,487 | 1,943,775 | ||||||
| Pinnacle West Capital Corp. | 7,690 | 626,427 | ||||||
| PPL Corp. | 50,723 | 1,342,131 | ||||||
| Public Service Enterprise Group, Inc. | 34,564 | 2,164,052 | ||||||
| Sempra Energy | 21,619 | 3,147,510 | ||||||
| Southern Co. | 75,259 | 5,286,945 | ||||||
| WEC Energy Group, Inc. | 21,819 | 1,925,309 | ||||||
| Xcel Energy, Inc. | 37,681 | 2,342,628 | ||||||
| 62,186,357 | ||||||||
| Gas — 0.1% | ||||||||
| Atmos Energy Corp. | 10,039 | 1,167,938 | ||||||
| NiSource, Inc. | 28,803 | 787,762 | ||||||
| 1,955,700 | ||||||||
| Water — 0.1% | ||||||||
| American Water Works Co., Inc. | 13,511 | 1,928,695 | ||||||
| 66,070,752 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL COMMON STOCK (Cost $1,369,110,055) | $ | 2,563,447,587 | ||||||
| TOTAL EQUITIES (Cost $1,369,110,055) | 2,563,447,587 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,369,110,055) | 2,563,447,587 | |||||||
| Principal Amount | ||||||||
| SHORT-TERM INVESTMENTS — 0.2% | ||||||||
| Repurchase Agreement — 0.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (b) | $ | 5,480,333 | 5,480,333 | |||||
| U.S. Treasury Bill — 0.0% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.294% 10/26/23 (c) (d) | 75,000 | 73,754 | ||||||
| 5.324% 10/26/23 (c) (d) | 25,000 | 24,584 | ||||||
| 5.489% 10/26/23 (c) (d) | 105,000 | 103,256 | ||||||
| 5.591% 10/26/23 (c) (d) | 290,000 | 285,183 | ||||||
| 486,777 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,966,860) | 5,967,110 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $1,375,076,915) (e) | 2,569,414,697 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (3,171,859) | |||||||
| NET ASSETS — 100.0% | $ | 2,566,242,838 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Maturity value of $5,481,027. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $5,589,990. |
| (c) | The rate shown represents yield-to-maturity. |
| (d) | All or a portion of this security is pledged/held as collateral for open derivatives. (Note 2). |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| S&P 500 E Mini Index | 9/15/23 | 34 | $ | 7,474,591 | $ | 155,434 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.6% | ||||||||
| COMMON STOCK — 96.9% | ||||||||
| Basic Materials — 7.9% | ||||||||
| Chemicals — 7.5% | ||||||||
| CF Industries Holdings, Inc. | 65,800 | $ | 4,567,836 | |||||
| Ecolab, Inc. | 114,160 | 21,312,530 | ||||||
| Linde PLC | 59,894 | 22,824,406 | ||||||
| 48,704,772 | ||||||||
| Forest Products & Paper — 0.4% | ||||||||
| International Paper Co. | 83,300 | 2,649,773 | ||||||
| 51,354,545 | ||||||||
| Communications — 1.2% | ||||||||
| Media — 1.2% | ||||||||
| News Corp. Class A | 226,843 | 4,423,438 | ||||||
| News Corp. Class B | 46,300 | 913,036 | ||||||
| Walt Disney Co. (a) | 27,600 | 2,464,128 | ||||||
| 7,800,602 | ||||||||
| 7,800,602 | ||||||||
| Consumer, Cyclical — 10.3% | ||||||||
| Apparel — 3.2% | ||||||||
| NIKE, Inc. Class B | 187,791 | 20,726,493 | ||||||
| Lodging — 0.4% | ||||||||
| Las Vegas Sands Corp. (a) | 48,700 | 2,824,600 | ||||||
| Retail — 6.7% | ||||||||
| McDonald's Corp. | 63,605 | 18,980,368 | ||||||
| TJX Cos., Inc. | 287,277 | 24,358,217 | ||||||
| 43,338,585 | ||||||||
| 66,889,678 | ||||||||
| Consumer, Non-cyclical — 31.6% | ||||||||
| Agriculture — 0.9% | ||||||||
| Philip Morris International, Inc. | 57,500 | 5,613,150 | ||||||
| Beverages — 4.5% | ||||||||
| Coca-Cola Co. | 138,971 | 8,368,833 | ||||||
| PepsiCo, Inc. | 112,922 | 20,915,413 | ||||||
| 29,284,246 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Cosmetics & Personal Care — 5.8% | ||||||||
| Colgate-Palmolive Co. | 245,422 | $ | 18,907,311 | |||||
| Procter & Gamble Co. | 120,976 | 18,356,898 | ||||||
| 37,264,209 | ||||||||
| Food — 0.9% | ||||||||
| Conagra Brands, Inc. | 98,200 | 3,311,304 | ||||||
| Tyson Foods, Inc. Class A | 52,400 | 2,674,496 | ||||||
| 5,985,800 | ||||||||
| Health Care – Products — 9.1% | ||||||||
| Danaher Corp. | 95,305 | 22,873,200 | ||||||
| Medtronic PLC | 140,942 | 12,416,990 | ||||||
| Stryker Corp. | 67,243 | 20,515,167 | ||||||
| Zimmer Biomet Holdings, Inc. | 21,400 | 3,115,840 | ||||||
| 58,921,197 | ||||||||
| Health Care – Services — 4.9% | ||||||||
| Elevance Health, Inc. | 16,920 | 7,517,387 | ||||||
| UnitedHealth Group, Inc. | 50,178 | 24,117,554 | ||||||
| 31,634,941 | ||||||||
| Household Products & Wares — 0.5% | ||||||||
| Kimberly-Clark Corp. | 25,800 | 3,561,948 | ||||||
| Pharmaceuticals — 5.0% | ||||||||
| AbbVie, Inc. | 17,000 | 2,290,410 | ||||||
| Becton Dickinson & Co. | 25,033 | 6,608,962 | ||||||
| Johnson & Johnson | 114,461 | 18,945,585 | ||||||
| Sanofi ADR | 58,000 | 3,126,200 | ||||||
| Viatris, Inc. | 140,100 | 1,398,198 | ||||||
| 32,369,355 | ||||||||
| 204,634,846 | ||||||||
| Energy — 1.9% | ||||||||
| Oil & Gas — 1.9% | ||||||||
| EOG Resources, Inc. | 22,300 | 2,552,012 | ||||||
| TotalEnergies SE | 131,400 | 7,530,859 | ||||||
| TotalEnergies SE Sponsored ADR | 37,100 | 2,138,444 | ||||||
| 12,221,315 | ||||||||
| 12,221,315 | ||||||||
| Financial — 20.6% | ||||||||
| Banks — 2.8% | ||||||||
| Fifth Third Bancorp | 197,100 | 5,165,991 | ||||||
| U.S. Bancorp | 137,900 | 4,556,216 | ||||||
| Wells Fargo & Co. | 195,000 | 8,322,600 | ||||||
| 18,044,807 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Diversified Financial Services — 6.8% | ||||||||
| American Express Co. | 118,891 | $ | 20,710,812 | |||||
| Visa, Inc. Class A | 98,284 | 23,340,485 | ||||||
| 44,051,297 | ||||||||
| Insurance — 8.5% | ||||||||
| American International Group, Inc. | 86,600 | 4,982,964 | ||||||
| Chubb Ltd. | 123,639 | 23,807,926 | ||||||
| Equitable Holdings, Inc. | 145,000 | 3,938,200 | ||||||
| Marsh & McLennan Cos., Inc. | 117,487 | 22,096,955 | ||||||
| 54,826,045 | ||||||||
| Real Estate Investment Trusts (REITS) — 2.5% | ||||||||
| American Tower Corp. | 43,529 | 8,442,014 | ||||||
| Equity Residential | 63,000 | 4,156,110 | ||||||
| Weyerhaeuser Co. | 119,100 | 3,991,041 | ||||||
| 16,589,165 | ||||||||
| 133,511,314 | ||||||||
| Industrial — 11.5% | ||||||||
| Aerospace & Defense — 4.3% | ||||||||
| Boeing Co. (a) | 15,500 | 3,272,980 | ||||||
| L3 Harris Technologies, Inc. | 27,200 | 5,324,944 | ||||||
| Lockheed Martin Corp. | 10,181 | 4,687,129 | ||||||
| Northrop Grumman Corp. | 32,308 | 14,725,986 | ||||||
| 28,011,039 | ||||||||
| Electronics — 3.4% | ||||||||
| Honeywell International, Inc. | 107,144 | 22,232,380 | ||||||
| Hand & Machine Tools — 0.6% | ||||||||
| Stanley Black & Decker, Inc. | 40,400 | 3,785,884 | ||||||
| Miscellaneous - Manufacturing — 1.0% | ||||||||
| General Electric Co. | 55,100 | 6,052,735 | ||||||
| Transportation — 2.2% | ||||||||
| Union Pacific Corp. | 52,885 | 10,821,329 | ||||||
| United Parcel Service, Inc. Class B | 17,900 | 3,208,575 | ||||||
| 14,029,904 | ||||||||
| 74,111,942 | ||||||||
| Technology — 10.1% | ||||||||
| Computers — 3.2% | ||||||||
| Accenture PLC Class A | 66,446 | 20,503,907 | ||||||
| Semiconductors — 2.8% | ||||||||
| QUALCOMM, Inc. | 60,000 | 7,142,400 | ||||||
| Samsung Electronics Co. Ltd. | 28,800 | 1,587,353 | ||||||
| Texas Instruments, Inc. | 51,832 | 9,330,797 | ||||||
| 18,060,550 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Software — 4.1% | ||||||||
| Microsoft Corp. | 79,024 | $ | 26,910,833 | |||||
| 65,475,290 | ||||||||
| Utilities — 1.8% | ||||||||
| Electric — 1.8% | ||||||||
| Dominion Energy, Inc. | 81,600 | 4,226,064 | ||||||
| Southern Co. | 108,900 | 7,650,225 | ||||||
| 11,876,289 | ||||||||
| 11,876,289 | ||||||||
| TOTAL COMMON STOCK (Cost $519,615,998) | 627,875,821 | |||||||
| PREFERRED STOCK — 0.7% | ||||||||
| Consumer, Cyclical — 0.7% | ||||||||
| Auto Manufacturers — 0.7% | ||||||||
| Dr Ing hc F Porsche AG 0.888% (b) | 20,700 | 2,569,185 | ||||||
| Volkswagen AG 22.618% | 17,800 | 2,387,469 | ||||||
| 4,956,654 | ||||||||
| TOTAL PREFERRED STOCK (Cost $5,563,183) | 4,956,654 | |||||||
| TOTAL EQUITIES (Cost $525,179,181) | 632,832,475 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $525,179,181) | 632,832,475 | |||||||
| SHORT-TERM INVESTMENTS — 1.6% | ||||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 162 | 162 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.6% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (c) | $ | 10,233,504 | 10,233,504 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $10,233,666) | 10,233,666 | |||||||
| TOTAL INVESTMENTS — 99.2% (Cost $535,412,847) (d) | 643,066,141 | |||||||
| Other Assets/(Liabilities) — 0.8% | 4,863,967 | |||||||
| NET ASSETS — 100.0% | $ | 647,930,108 | ||||||
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) | 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 June 30, 2023, the aggregate market value of these securities amounted to $2,569,185 or 0.40% of net assets. |
| (c) | Maturity value of $10,234,800. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $10,438,301. |
| (d) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Fundamental Growth Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.5% | ||||||||
| COMMON STOCK — 98.5% | ||||||||
| Basic Materials — 0.7% | ||||||||
| Chemicals — 0.7% | ||||||||
| Celanese Corp. | 1,950 | $ | 225,810 | |||||
| Communications — 7.1% | ||||||||
| Internet — 5.7% | ||||||||
| CDW Corp. | 4,800 | 880,800 | ||||||
| Etsy, Inc. (a) | 5,229 | 442,426 | ||||||
| Palo Alto Networks, Inc. (a) | 1,495 | 381,987 | ||||||
| 1,705,213 | ||||||||
| Telecommunications — 1.4% | ||||||||
| Arista Networks, Inc. (a) | 1,220 | 197,713 | ||||||
| Nice Ltd. Sponsored ADR (a) (b) | 1,020 | 210,630 | ||||||
| 408,343 | ||||||||
| 2,113,556 | ||||||||
| Consumer, Cyclical — 13.1% | ||||||||
| Apparel — 0.8% | ||||||||
| Tapestry, Inc. | 5,970 | 255,516 | ||||||
| Auto Parts & Equipment — 0.7% | ||||||||
| Aptiv PLC (a) | 2,000 | 204,180 | ||||||
| Distribution & Wholesale — 2.7% | ||||||||
| Copart, Inc. (a) | 2,800 | 255,388 | ||||||
| Watsco, Inc. (b) | 754 | 287,628 | ||||||
| WESCO International, Inc. | 1,420 | 254,265 | ||||||
| 797,281 | ||||||||
| Entertainment — 1.2% | ||||||||
| Live Nation Entertainment, Inc. (a) | 1,740 | 158,531 | ||||||
| Vail Resorts, Inc. | 780 | 196,373 | ||||||
| 354,904 | ||||||||
| Lodging — 2.6% | ||||||||
| Hilton Worldwide Holdings, Inc. | 5,404 | 786,552 | ||||||
| Retail — 5.1% | ||||||||
| Chipotle Mexican Grill, Inc. (a) | 176 | 376,464 | ||||||
| Freshpet, Inc. (a) | 8,691 | 571,955 | ||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Lululemon Athletica, Inc. (a) | 1,492 | $ | 564,722 | |||||
| 1,513,141 | ||||||||
| 3,911,574 | ||||||||
| Consumer, Non-cyclical — 30.2% | ||||||||
| Beverages — 2.1% | ||||||||
| Celsius Holdings, Inc. (a) | 1,646 | 245,567 | ||||||
| Constellation Brands, Inc. Class A | 1,490 | 366,733 | ||||||
| 612,300 | ||||||||
| Biotechnology — 2.1% | ||||||||
| Illumina, Inc. (a) | 2,173 | 407,416 | ||||||
| Legend Biotech Corp. ADR (a) | 1,350 | 93,190 | ||||||
| Sarepta Therapeutics, Inc. (a) | 1,130 | 129,408 | ||||||
| 630,014 | ||||||||
| Commercial Services — 6.0% | ||||||||
| CoStar Group, Inc. (a) | 3,230 | 287,470 | ||||||
| Gartner, Inc. (a) | 2,253 | 789,249 | ||||||
| Global Payments, Inc. | 2,350 | 231,522 | ||||||
| TransUnion | 6,237 | 488,544 | ||||||
| 1,796,785 | ||||||||
| Health Care – Products — 12.1% | ||||||||
| Align Technology, Inc. (a) | 2,142 | 757,497 | ||||||
| Avantor, Inc. (a) | 10,560 | 216,902 | ||||||
| Bio-Techne Corp. | 2,460 | 200,810 | ||||||
| Cooper Cos., Inc. | 717 | 274,919 | ||||||
| Exact Sciences Corp. (a) | 5,983 | 561,804 | ||||||
| IDEXX Laboratories, Inc. (a) | 518 | 260,155 | ||||||
| Insulet Corp. (a) | 1,879 | 541,791 | ||||||
| Masimo Corp. (a) | 980 | 161,259 | ||||||
| Omnicell, Inc. (a) | 6,273 | 462,132 | ||||||
| Repligen Corp. (a) | 1,292 | 182,766 | ||||||
| 3,620,035 | ||||||||
| Health Care – Services — 5.8% | ||||||||
| ICON PLC (a) | 5,110 | 1,278,522 | ||||||
| Molina Healthcare, Inc. (a) | 1,481 | 446,137 | ||||||
| 1,724,659 | ||||||||
| Pharmaceuticals — 2.1% | ||||||||
| Ascendis Pharma A/S ADR (a) | 3,210 | 286,492 | ||||||
| Dexcom, Inc. (a) | 2,670 | 343,122 | ||||||
| 629,614 | ||||||||
| 9,013,407 | ||||||||
| Energy — 3.1% | ||||||||
| Oil & Gas — 1.0% | ||||||||
| Devon Energy Corp. | 6,200 | 299,708 | ||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Oil & Gas Services — 0.4% | ||||||||
| Halliburton Co. | 3,180 | $ | 104,908 | |||||
| Pipelines — 1.7% | ||||||||
| Cheniere Energy, Inc. | 3,357 | 511,473 | ||||||
| 916,089 | ||||||||
| Financial — 6.9% | ||||||||
| Diversified Financial Services — 2.7% | ||||||||
| Hamilton Lane, Inc. Class A | 7,017 | 561,220 | ||||||
| LPL Financial Holdings, Inc. | 1,100 | 239,173 | ||||||
| 800,393 | ||||||||
| Insurance — 1.4% | ||||||||
| American International Group, Inc. | 3,190 | 183,553 | ||||||
| Arthur J Gallagher & Co. | 1,090 | 239,331 | ||||||
| 422,884 | ||||||||
| Private Equity — 2.3% | ||||||||
| Ares Management Corp. Class A | 7,179 | 691,696 | ||||||
| Real Estate Investment Trusts (REITS) — 0.5% | ||||||||
| Essex Property Trust, Inc. | 630 | 147,609 | ||||||
| 2,062,582 | ||||||||
| Industrial — 13.5% | ||||||||
| Aerospace & Defense — 2.7% | ||||||||
| Hexcel Corp. | 4,315 | 328,026 | ||||||
| TransDigm Group, Inc. | 532 | 475,699 | ||||||
| 803,725 | ||||||||
| Building Materials — 3.3% | ||||||||
| Builders FirstSource, Inc. (a) | 5,111 | 695,096 | ||||||
| Vulcan Materials Co. | 1,310 | 295,326 | ||||||
| 990,422 | ||||||||
| Electrical Components & Equipment — 1.1% | ||||||||
| AMETEK, Inc. | 1,940 | 314,047 | ||||||
| Electronics — 1.0% | ||||||||
| Agilent Technologies, Inc. | 2,506 | 301,347 | ||||||
| Environmental Controls — 0.7% | ||||||||
| Waste Connections, Inc. | 1,570 | 224,400 | ||||||
| Machinery – Construction & Mining — 2.4% | ||||||||
| BWX Technologies, Inc. | 10,063 | 720,209 | ||||||
| Machinery – Diversified — 1.4% | ||||||||
| Rockwell Automation, Inc. | 1,280 | 421,696 | ||||||
| Transportation — 0.9% | ||||||||
| JB Hunt Transport Services, Inc. | 1,430 | 258,873 | ||||||
| 4,034,719 | ||||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Technology — 23.9% | ||||||||
| Computers — 3.5% | ||||||||
| Fortinet, Inc. (a) | 5,550 | $ | 419,525 | |||||
| Genpact Ltd. | 4,620 | 173,573 | ||||||
| NetApp, Inc. | 3,200 | 244,480 | ||||||
| Zscaler, Inc. (a) | 1,460 | 213,598 | ||||||
| 1,051,176 | ||||||||
| Semiconductors — 3.7% | ||||||||
| KLA Corp. | 652 | 316,233 | ||||||
| Marvell Technology, Inc. | 2,370 | 141,679 | ||||||
| Microchip Technology, Inc. | 3,200 | 286,688 | ||||||
| ON Semiconductor Corp. (a) | 3,856 | 364,700 | ||||||
| 1,109,300 | ||||||||
| Software — 16.7% | ||||||||
| Cadence Design Systems, Inc. (a) | 1,544 | 362,099 | ||||||
| Ceridian HCM Holding, Inc. (a) | 10,808 | 723,812 | ||||||
| Electronic Arts, Inc. | 4,948 | 641,756 | ||||||
| Fair Isaac Corp. (a) | 349 | 282,414 | ||||||
| HubSpot, Inc. (a) | 554 | 294,778 | ||||||
| MongoDB, Inc. (a) | 1,588 | 652,652 | ||||||
| MSCI, Inc. | 1,639 | 769,166 | ||||||
| Splunk, Inc. (a) | 2,670 | 283,260 | ||||||
| Veeva Systems, Inc. Class A (a) | 2,348 | 464,270 | ||||||
| ZoomInfo Technologies, Inc. (a) | 19,522 | 495,664 | ||||||
| 4,969,871 | ||||||||
| 7,130,347 | ||||||||
| TOTAL COMMON STOCK (Cost $26,726,129) | 29,408,084 | |||||||
| TOTAL EQUITIES (Cost $26,726,129) | 29,408,084 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $26,726,129) | 29,408,084 | |||||||
| Principal Amount | ||||||||
| SHORT-TERM INVESTMENTS — 1.5% | ||||||||
| Repurchase Agreement — 1.5% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (c) | $ | 440,342 | 440,342 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $440,342) | 440,342 | |||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Value | ||||||
| TOTAL INVESTMENTS — 100.0% (Cost $27,166,471) (d) | $ | 29,848,426 | ||||
| Other Assets/(Liabilities) — (0.0)% | (6,019) | |||||
| NET ASSETS — 100.0% | $ | 29,842,407 | ||||
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 June 30, 2023, was $488,322 or 1.64% of net assets. The Fund received $502,607 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) | Maturity value of $440,398. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $449,161. |
| (d) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Blue Chip Growth Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.9% | ||||||||
| COMMON STOCK — 98.7% | ||||||||
| Basic Materials — 0.5% | ||||||||
| Chemicals — 0.5% | ||||||||
| Linde PLC | 18,142 | $ | 6,913,553 | |||||
| Sherwin-Williams Co. | 24,270 | 6,444,171 | ||||||
| 13,357,724 | ||||||||
| Communications — 26.9% | ||||||||
| Internet — 24.7% | ||||||||
| Alibaba Group Holding Ltd. Sponsored ADR (a) (b) | 124,672 | 10,391,411 | ||||||
| Alphabet, Inc. Class A (a) | 644,096 | 77,098,291 | ||||||
| Alphabet, Inc. Class C (a) | 758,981 | 91,813,932 | ||||||
| Amazon.com, Inc. (a) | 1,262,809 | 164,619,781 | ||||||
| Booking Holdings, Inc. (a) | 4,069 | 10,987,643 | ||||||
| DoorDash, Inc., Class A (a) | 40,770 | 3,115,643 | ||||||
| Meta Platforms, Inc. Class A (a) | 543,901 | 156,088,709 | ||||||
| Netflix, Inc. (a) | 153,702 | 67,704,194 | ||||||
| Sea Ltd. ADR (a) | 68,177 | 3,956,993 | ||||||
| Shopify, Inc. Class A (a) | 453,554 | 29,299,589 | ||||||
| 615,076,186 | ||||||||
| Media — 1.7% | ||||||||
| FactSet Research Systems, Inc. | 39,665 | 15,891,782 | ||||||
| Walt Disney Co. (a) | 286,569 | 25,584,881 | ||||||
| 41,476,663 | ||||||||
| Telecommunications — 0.5% | ||||||||
| T-Mobile U.S., Inc. (a) | 97,846 | 13,590,809 | ||||||
| 670,143,658 | ||||||||
| Consumer, Cyclical — 8.0% | ||||||||
| Apparel — 0.2% | ||||||||
| NIKE, Inc. Class B | 47,628 | 5,256,702 | ||||||
| Auto Manufacturers — 4.3% | ||||||||
| Tesla, Inc. (a) | 408,140 | 106,838,808 | ||||||
| Retail — 3.5% | ||||||||
| Chipotle Mexican Grill, Inc. (a) | 6,871 | 14,697,069 | ||||||
| Dollar General Corp. | 52,280 | 8,876,098 | ||||||
| Lululemon Athletica, Inc. (a) | 17,784 | 6,731,244 | ||||||
| Ross Stores, Inc. | 73,856 | 8,281,473 | ||||||
| Starbucks Corp. | 212,505 | 21,050,745 | ||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TJX Cos., Inc. | 74,112 | $ | 6,283,957 | |||||
| Yum China Holdings, Inc. | 121,901 | 6,887,407 | ||||||
| Yum! Brands, Inc. | 104,180 | 14,434,139 | ||||||
| 87,242,132 | ||||||||
| 199,337,642 | ||||||||
| Consumer, Non-cyclical — 15.4% | ||||||||
| Beverages — 1.4% | ||||||||
| Monster Beverage Corp. (a) | 627,551 | 36,046,530 | ||||||
| Biotechnology — 2.7% | ||||||||
| Illumina, Inc. (a) | 90,480 | 16,964,095 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 29,701 | 21,341,357 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 79,861 | 28,103,884 | ||||||
| 66,409,336 | ||||||||
| Commercial Services — 1.8% | ||||||||
| Adyen NV Sponsored ADR (a) | 283,604 | 4,903,513 | ||||||
| Affirm Holdings, Inc. (a) (b) | 43,177 | 661,903 | ||||||
| Ant International Co. Ltd., Class C (Acquired 6/07/18, Cost $3,358,253) (a) (c) (d) (e) | 881,113 | 1,550,759 | ||||||
| Block, Inc. (a) | 225,268 | 14,996,091 | ||||||
| Cintas Corp. | 4,939 | 2,455,078 | ||||||
| PayPal Holdings, Inc. (a) | 173,608 | 11,584,862 | ||||||
| S&P Global, Inc. | 19,464 | 7,802,923 | ||||||
| 43,955,129 | ||||||||
| Health Care – Products — 3.2% | ||||||||
| Align Technology, Inc. (a) | 5,540 | 1,959,166 | ||||||
| Danaher Corp. | 41,304 | 9,912,960 | ||||||
| Intuitive Surgical, Inc. (a) | 116,108 | 39,701,969 | ||||||
| Stryker Corp. | 29,543 | 9,013,274 | ||||||
| Teleflex, Inc. | 8,558 | 2,071,293 | ||||||
| Thermo Fisher Scientific, Inc. | 35,071 | 18,298,294 | ||||||
| 80,956,956 | ||||||||
| Health Care – Services — 2.5% | ||||||||
| Elevance Health, Inc. | 12,113 | 5,381,685 | ||||||
| Humana, Inc. | 21,764 | 9,731,337 | ||||||
| UnitedHealth Group, Inc. | 96,843 | 46,546,620 | ||||||
| 61,659,642 | ||||||||
| Pharmaceuticals — 3.8% | ||||||||
| AstraZeneca PLC Sponsored ADR | 54,824 | 3,923,754 | ||||||
| Eli Lilly & Co. | 79,518 | 37,292,352 | ||||||
| Novartis AG Sponsored ADR | 150,578 | 15,194,826 | ||||||
| Novo Nordisk AS Sponsored ADR | 113,173 | 18,314,786 | ||||||
| Roche Holding AG Sponsored ADR | 342,468 | 13,082,277 | ||||||
| Zoetis, Inc. | 45,252 | 7,792,847 | ||||||
| 95,600,842 | ||||||||
| 384,628,435 | ||||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Financial — 7.8% | ||||||||
| Banks — 0.4% | ||||||||
| Goldman Sachs Group, Inc. | 12,286 | $ | 3,962,726 | |||||
| Morgan Stanley | 80,259 | 6,854,119 | ||||||
| 10,816,845 | ||||||||
| Diversified Financial Services — 6.5% | ||||||||
| Charles Schwab Corp. | 76,644 | 4,344,182 | ||||||
| Mastercard, Inc. Class A | 95,827 | 37,688,759 | ||||||
| SEI Investments Co. | 225,946 | 13,470,900 | ||||||
| Visa, Inc. Class A (b) | 447,204 | 106,202,006 | ||||||
| 161,705,847 | ||||||||
| Insurance — 0.9% | ||||||||
| Chubb Ltd. | 70,917 | 13,655,777 | ||||||
| Marsh & McLennan Cos., Inc. | 49,394 | 9,290,024 | ||||||
| 22,945,801 | ||||||||
| 195,468,493 | ||||||||
| Industrial — 4.0% | ||||||||
| Aerospace & Defense — 2.4% | ||||||||
| Boeing Co. (a) | 260,836 | 55,078,130 | ||||||
| TransDigm Group, Inc. | 4,168 | 3,726,900 | ||||||
| 58,805,030 | ||||||||
| Electronics — 0.1% | ||||||||
| TE Connectivity Ltd. | 18,214 | 2,552,874 | ||||||
| Machinery – Diversified — 0.3% | ||||||||
| Deere & Co. | 18,563 | 7,521,542 | ||||||
| Miscellaneous - Manufacturing — 0.3% | ||||||||
| General Electric Co. | 65,323 | 7,175,732 | ||||||
| Transportation — 0.9% | ||||||||
| Expeditors International of Washington, Inc. | 150,538 | 18,234,668 | ||||||
| Old Dominion Freight Line, Inc. | 14,165 | 5,237,509 | ||||||
| 23,472,177 | ||||||||
| 99,527,355 | ||||||||
| Technology — 36.0% | ||||||||
| Computers — 6.5% | ||||||||
| Apple, Inc. | 821,314 | 159,310,277 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 12,465 | 1,830,734 | ||||||
| Fortinet, Inc. (a) | 20,645 | 1,560,556 | ||||||
| 162,701,567 | ||||||||
| Semiconductors — 9.7% | ||||||||
| Advanced Micro Devices, Inc. (a) | 108,634 | 12,374,499 | ||||||
| ASML Holding NV | 26,520 | 19,220,370 | ||||||
| Lam Research Corp. | 3,869 | 2,487,225 | ||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Marvell Technology, Inc. | 69,271 | $ | 4,141,020 | |||||
| Monolithic Power Systems, Inc. | 15,324 | 8,278,484 | ||||||
| NVIDIA Corp. | 397,751 | 168,256,628 | ||||||
| QUALCOMM, Inc. | 145,726 | 17,347,223 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | 49,006 | 4,945,686 | ||||||
| Texas Instruments, Inc. | 28,633 | 5,154,513 | ||||||
| 242,205,648 | ||||||||
| Software — 19.8% | ||||||||
| Atlassian Corp. Class A Class A (a) | 29,921 | 5,021,043 | ||||||
| Autodesk, Inc. (a) | 151,819 | 31,063,685 | ||||||
| Bill Holdings, Inc. (a) | 41,014 | 4,792,486 | ||||||
| Canva, Inc. (Acquired 8/16/21-12/17/21, Cost $2,302,739) (a) (c) (d) (e) | 1,351 | 958,629 | ||||||
| Confluent, Inc. Class A (a) | 53,275 | 1,881,140 | ||||||
| Datadog, Inc. Class A (a) | 27,128 | 2,668,853 | ||||||
| Fiserv, Inc. (a) | 25,067 | 3,162,202 | ||||||
| Gusto, Inc. (Acquired 10/04/21, Cost $765,943) (a) (c) (d) (e) | 26,606 | 500,991 | ||||||
| Intuit, Inc. | 37,739 | 17,291,632 | ||||||
| Microsoft Corp. | 734,215 | 250,029,576 | ||||||
| MongoDB, Inc. (a) | 21,689 | 8,913,962 | ||||||
| MSCI, Inc. | 4,005 | 1,879,506 | ||||||
| Oracle Corp. | 456,441 | 54,357,559 | ||||||
| Paycom Software, Inc. | 3,417 | 1,097,677 | ||||||
| Roper Technologies, Inc. | 21,277 | 10,229,982 | ||||||
| Salesforce, Inc. (a) | 152,420 | 32,200,249 | ||||||
| ServiceNow, Inc. (a) | 56,279 | 31,627,110 | ||||||
| Snowflake, Inc. Class A (a) | 18,103 | 3,185,766 | ||||||
| Synopsys, Inc. (a) | 37,232 | 16,211,185 | ||||||
| Veeva Systems, Inc. Class A (a) | 15,912 | 3,146,280 | ||||||
| Workday, Inc. Class A (a) | 52,912 | 11,952,292 | ||||||
| 492,171,805 | ||||||||
| 897,079,020 | ||||||||
| Utilities — 0.1% | ||||||||
| Electric — 0.1% | ||||||||
| Constellation Energy Corp. | 36,235 | 3,317,314 | ||||||
| TOTAL COMMON STOCK (Cost $1,572,771,669) | 2,462,859,641 | |||||||
| PREFERRED STOCK — 0.2% | ||||||||
| Technology — 0.2% | ||||||||
| Software — 0.2% | ||||||||
| Canva, Inc., Series A (Acquired 11/04/21-12/17/21, Cost $144,893) (a) (c) (d) (e) | 85 | 60,313 | ||||||
| Canva, Inc., Series A-3 (Acquired 11/04/21-12/17/21, Cost $17,043) (a) (c) (d) (e) | 10 | 7,096 | ||||||
| Databricks, Inc., Series G (Acquired 2/01/21, Cost $815,183) (a) (c) (d) (e) | 13,788 | 1,008,730 | ||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $2,202,319) (a) (c) (d) (e) | 29,970 | 2,192,605 | ||||||
| Gusto, Inc., Series E (Acquired 7/13/21, Cost $1,117,484) (a) (c) (d) (e) | 36,765 | 692,285 | ||||||
| 3,961,029 | ||||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL PREFERRED STOCK (Cost $4,296,923) | $ | 3,961,029 | ||||||
| TOTAL EQUITIES (Cost $1,577,068,592) | 2,466,820,670 | |||||||
| Principal Amount | ||||||||
| BONDS & NOTES — 0.1% | ||||||||
| CORPORATE DEBT — 0.1% | ||||||||
| Retail — 0.1% | ||||||||
| Carvana Co. | ||||||||
| 10.250% 5/01/30 (f) | $ | 3,685,000 | 2,902,757 | |||||
| TOTAL CORPORATE DEBT (Cost $3,685,000) | 2,902,757 | |||||||
| TOTAL BONDS & NOTES (Cost $3,685,000) | 2,902,757 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,580,753,592) | 2,469,723,427 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 1.0% | ||||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 103 | 103 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (g) | $ | 23,830,987 | 23,830,987 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $23,831,090) | 23,831,090 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,604,584,682) (h) | 2,493,554,517 | |||||||
| Other Assets/(Liabilities) — 0.0% | 654,814 | |||||||
| NET ASSETS — 100.0% | $ | 2,494,209,331 | ||||||
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 June 30, 2023, was $7,615,939 or 0.31% of net assets. The Fund received $7,792,789 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) | Investment is valued using significant unobservable inputs. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $6,971,408 or 0.28% of net assets. |
| (e) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $6,971,408 or 0.28% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (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 June 30, 2023, the aggregate market value of these securities amounted to $2,902,757 or 0.12% of net assets. |
| (g) | Maturity value of $23,834,005. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $24,307,612. |
| (h) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Growth Opportunities Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.8% | ||||||||
| COMMON STOCK — 97.8% | ||||||||
| Basic Materials — 1.3% | ||||||||
| Chemicals — 1.3% | ||||||||
| Linde PLC | 5,851 | $ | 2,229,699 | |||||
| Communications — 21.4% | ||||||||
| Internet — 21.4% | ||||||||
| Airbnb, Inc. Class A (a) | 9,942 | 1,274,167 | ||||||
| Alphabet, Inc. Class A (a) | 22,986 | 2,751,424 | ||||||
| Amazon.com, Inc. (a) | 95,507 | 12,450,293 | ||||||
| DoorDash, Inc., Class A (a) | 26,089 | 1,993,721 | ||||||
| Match Group, Inc. (a) | 35,718 | 1,494,798 | ||||||
| Meta Platforms, Inc. Class A (a) | 12,188 | 3,497,712 | ||||||
| Netflix, Inc. (a) | 7,447 | 3,280,329 | ||||||
| Sea Ltd. ADR (a) | 26,251 | 1,523,608 | ||||||
| Shopify, Inc. Class A (a) | 41,752 | 2,697,179 | ||||||
| Uber Technologies, Inc. (a) | 137,009 | 5,914,679 | ||||||
| 36,877,910 | ||||||||
| Consumer, Cyclical — 3.5% | ||||||||
| Apparel — 1.3% | ||||||||
| NIKE, Inc. Class B | 20,774 | 2,292,827 | ||||||
| Distribution & Wholesale — 1.2% | ||||||||
| Copart, Inc. (a) | 22,273 | 2,031,520 | ||||||
| Retail — 1.0% | ||||||||
| Floor & Decor Holdings, Inc. Class A (a) | 15,909 | 1,653,900 | ||||||
| 5,978,247 | ||||||||
| Consumer, Non-cyclical — 19.7% | ||||||||
| Biotechnology — 2.0% | ||||||||
| Corteva, Inc. | 45,259 | 2,593,341 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 16,872 | 778,305 | ||||||
| 3,371,646 | ||||||||
| Commercial Services — 5.7% | ||||||||
| Block, Inc. (a) | 52,390 | 3,487,603 | ||||||
| CoStar Group, Inc. (a) | 38,340 | 3,412,260 | ||||||
| S&P Global, Inc. | 7,407 | 2,969,392 | ||||||
| 9,869,255 | ||||||||
| MassMutual Growth Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Products — 8.0% | ||||||||
| 10X Genomics, Inc. Class A (a) | 26,359 | $ | 1,471,886 | |||||
| Align Technology, Inc. (a) | 5,212 | 1,843,172 | ||||||
| Danaher Corp. | 9,618 | 2,308,320 | ||||||
| Edwards Lifesciences Corp. (a) | 52,289 | 4,932,421 | ||||||
| Intuitive Surgical, Inc. (a) | 9,271 | 3,170,126 | ||||||
| 13,725,925 | ||||||||
| Health Care – Services — 1.1% | ||||||||
| IQVIA Holdings, Inc. (a) | 8,448 | 1,898,857 | ||||||
| Pharmaceuticals — 2.9% | ||||||||
| Dexcom, Inc. (a) | 39,273 | 5,046,973 | ||||||
| 33,912,656 | ||||||||
| Financial — 11.5% | ||||||||
| Diversified Financial Services — 10.3% | ||||||||
| CME Group, Inc. | 20,682 | 3,832,168 | ||||||
| Mastercard, Inc. Class A | 12,270 | 4,825,791 | ||||||
| Visa, Inc. Class A | 37,687 | 8,949,909 | ||||||
| 17,607,868 | ||||||||
| Private Equity — 1.2% | ||||||||
| KKR & Co., Inc. | 37,195 | 2,082,920 | ||||||
| 19,690,788 | ||||||||
| Industrial — 6.4% | ||||||||
| Aerospace & Defense — 2.2% | ||||||||
| Boeing Co. (a) | 17,719 | 3,741,544 | ||||||
| Environmental Controls — 2.0% | ||||||||
| Waste Management, Inc. | 19,714 | 3,418,802 | ||||||
| Transportation — 2.2% | ||||||||
| Canadian Pacific Kansas City Ltd. (b) | 47,856 | 3,865,329 | ||||||
| 11,025,675 | ||||||||
| Technology — 34.0% | ||||||||
| Semiconductors — 10.2% | ||||||||
| Advanced Micro Devices, Inc. (a) | 21,633 | 2,464,215 | ||||||
| Entegris, Inc. | 22,497 | 2,493,117 | ||||||
| Lam Research Corp. | 4,552 | 2,926,299 | ||||||
| NVIDIA Corp. | 22,601 | 9,560,675 | ||||||
| 17,444,306 | ||||||||
| Software — 23.8% | ||||||||
| Atlassian Corp. Class A Class A (a) | 16,203 | 2,719,025 | ||||||
| Cloudflare, Inc. Class A (a) | 22,911 | 1,497,692 | ||||||
| Datadog, Inc. Class A (a) | 40,184 | 3,953,302 | ||||||
| Microsoft Corp. | 52,736 | 17,958,717 | ||||||
| ServiceNow, Inc. (a) | 16,541 | 9,295,546 | ||||||
| Snowflake, Inc. Class A (a) | 14,716 | 2,589,722 | ||||||
| MassMutual Growth Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Veeva Systems, Inc. Class A (a) | 15,087 | $ | 2,983,153 | |||||
| 40,997,157 | ||||||||
| 58,441,463 | ||||||||
| TOTAL COMMON STOCK (Cost $144,613,325) | 168,156,438 | |||||||
| TOTAL EQUITIES (Cost $144,613,325) | 168,156,438 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $144,613,325) | 168,156,438 | |||||||
| SHORT-TERM INVESTMENTS — 4.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 2.5% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 4,384,545 | 4,384,545 | ||||||
| Repurchase Agreement — 1.7% | Principal Amount | |||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 2,927,739 | 2,927,739 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,312,284) | 7,312,284 | |||||||
| TOTAL INVESTMENTS — 102.0% (Cost $151,925,609) (e) | 175,468,722 | |||||||
| Other Assets/(Liabilities) — (2.0)% | (3,509,012) | |||||||
| NET ASSETS — 100.0% | $ | 171,959,710 | ||||||
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 June 30, 2023, was $4,297,465 or 2.50% of net assets. (Note 2). |
| (c) | Represents investment of security lending cash collateral. (Note 2). |
| (d) | Maturity value of $2,928,110. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/2025 , and an aggregate market value, including accrued interest, of $2,986,299. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Mid Cap Value Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.3% | ||||||||
| COMMON STOCK — 97.0% | ||||||||
| Basic Materials — 4.9% | ||||||||
| Chemicals — 3.2% | ||||||||
| Akzo Nobel NV | 7,096 | $ | 579,818 | |||||
| Axalta Coating Systems Ltd. (a) | 4,607 | 151,156 | ||||||
| CF Industries Holdings, Inc. | 6,668 | 462,892 | ||||||
| Huntsman Corp. | 9,884 | 267,066 | ||||||
| LyondellBasell Industries NV Class A | 6,914 | 634,913 | ||||||
| Mosaic Co. | 14,700 | 514,500 | ||||||
| Olin Corp. | 20,363 | 1,046,454 | ||||||
| 3,656,799 | ||||||||
| Iron & Steel — 1.7% | ||||||||
| Nucor Corp. | 3,870 | 634,603 | ||||||
| Steel Dynamics, Inc. | 5,660 | 616,544 | ||||||
| U.S. Steel Corp. | 31,358 | 784,263 | ||||||
| 2,035,410 | ||||||||
| 5,692,209 | ||||||||
| Communications — 9.0% | ||||||||
| Advertising — 0.5% | ||||||||
| Interpublic Group of Cos., Inc. | 9,944 | 383,640 | ||||||
| Omnicom Group, Inc. | 2,110 | 200,766 | ||||||
| Trade Desk, Inc. Class A (a) | 433 | 33,436 | ||||||
| 617,842 | ||||||||
| Internet — 3.3% | ||||||||
| Coupang, Inc. (a) | 1,973 | 34,330 | ||||||
| DoorDash, Inc., Class A (a) | 3,128 | 239,042 | ||||||
| eBay, Inc. | 13,982 | 624,856 | ||||||
| Etsy, Inc. (a) | 2,923 | 247,315 | ||||||
| Expedia Group, Inc. (a) | 1,841 | 201,387 | ||||||
| F5, Inc. (a) | 3,231 | 472,566 | ||||||
| GoDaddy, Inc. Class A (a) | 3,806 | 285,945 | ||||||
| IAC, Inc. (a) | 11,300 | 709,640 | ||||||
| TripAdvisor, Inc. (a) | 5,175 | 85,336 | ||||||
| VeriSign, Inc. (a) | 2,629 | 594,075 | ||||||
| Zillow Group, Inc. Class C (a) | 5,062 | 254,416 | ||||||
| 3,748,908 | ||||||||
| Media — 4.7% | ||||||||
| Altice USA, Inc. Class A (a) | 57,000 | 172,140 | ||||||
| DISH Network Corp. Class A (a) | 43,700 | 287,983 | ||||||
| Fox Corp. Class A | 16,500 | 561,000 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Fox Corp. Class B | 16,039 | $ | 511,484 | |||||
| Liberty Broadband Corp. Class C (a) | 12,100 | 969,331 | ||||||
| Liberty Global PLC Class A (a) | 48,300 | 814,338 | ||||||
| Liberty Media Corp-Liberty SiriusXM Class C (a) | 30,000 | 981,900 | ||||||
| News Corp. Class A | 36,800 | 717,600 | ||||||
| Warner Bros Discovery, Inc. (a) | 27,927 | 350,204 | ||||||
| 5,365,980 | ||||||||
| Telecommunications — 0.5% | ||||||||
| BCE, Inc. | 2,260 | 103,041 | ||||||
| Corning, Inc. | 5,313 | 186,168 | ||||||
| Juniper Networks, Inc. | 10,421 | 326,490 | ||||||
| 615,699 | ||||||||
| 10,348,429 | ||||||||
| Consumer, Cyclical — 8.4% | ||||||||
| Airlines — 2.0% | ||||||||
| Alaska Air Group, Inc. (a) | 5,985 | 318,282 | ||||||
| Delta Air Lines, Inc. (a) | 13,814 | 656,718 | ||||||
| Southwest Airlines Co. | 19,235 | 696,500 | ||||||
| United Airlines Holdings, Inc. (a) | 11,606 | 636,821 | ||||||
| 2,308,321 | ||||||||
| Auto Manufacturers — 0.3% | ||||||||
| Cummins, Inc. | 1,169 | 286,592 | ||||||
| Auto Parts & Equipment — 0.9% | ||||||||
| Allison Transmission Holdings, Inc. | 1,894 | 106,935 | ||||||
| Aptiv PLC (a) | 1,377 | 140,578 | ||||||
| BorgWarner, Inc. | 11,351 | 555,177 | ||||||
| Cie Generale des Etablissements Michelin SCA | 9,551 | 282,340 | ||||||
| 1,085,030 | ||||||||
| Distribution & Wholesale — 1.0% | ||||||||
| Bunzl PLC | 5,379 | 204,796 | ||||||
| Ferguson PLC | 1,376 | 216,458 | ||||||
| LKQ Corp. | 11,600 | 675,932 | ||||||
| 1,097,186 | ||||||||
| Entertainment — 0.0% | ||||||||
| Six Flags Entertainment Corp. (a) | 1,165 | 30,267 | ||||||
| Food Services — 0.1% | ||||||||
| Sodexo SA | 959 | 105,610 | ||||||
| Home Builders — 0.5% | ||||||||
| NVR, Inc. (a) | 98 | 622,361 | ||||||
| Leisure Time — 0.3% | ||||||||
| Carnival Corp. (a) | 17,521 | 329,920 | ||||||
| Lodging — 0.8% | ||||||||
| Hilton Worldwide Holdings, Inc. | 4,253 | 619,024 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hyatt Hotels Corp. Class A | 2,224 | $ | 254,826 | |||||
| 873,850 | ||||||||
| Retail — 2.5% | ||||||||
| Advance Auto Parts, Inc. | 3,100 | 217,930 | ||||||
| Beacon Roofing Supply, Inc. (a) | 3,724 | 309,018 | ||||||
| Casey's General Stores, Inc. | 153 | 37,314 | ||||||
| Dollar Tree, Inc. (a) | 8,819 | 1,265,526 | ||||||
| Macy's, Inc. | 8,109 | 130,149 | ||||||
| MSC Industrial Direct Co., Inc. Class A | 6,447 | 614,270 | ||||||
| O'Reilly Automotive, Inc. (a) | 16 | 15,285 | ||||||
| Ross Stores, Inc. | 2,900 | 325,177 | ||||||
| Yum! Brands, Inc. | 166 | 22,999 | ||||||
| 2,937,668 | ||||||||
| 9,676,805 | ||||||||
| Consumer, Non-cyclical — 18.4% | ||||||||
| Beverages — 0.2% | ||||||||
| Molson Coors Beverage Co. Class B | 3,400 | 223,856 | ||||||
| Biotechnology — 1.2% | ||||||||
| Bio-Rad Laboratories, Inc. Class A (a) | 2,400 | 909,888 | ||||||
| Incyte Corp. (a) | 1,658 | 103,211 | ||||||
| Royalty Pharma PLC Class A | 11,554 | 355,170 | ||||||
| 1,368,269 | ||||||||
| Commercial Services — 1.9% | ||||||||
| ADT, Inc. | 10,012 | 60,372 | ||||||
| Clarivate PLC (a) | 55,700 | 530,821 | ||||||
| FleetCor Technologies, Inc. (a) | 3,400 | 853,672 | ||||||
| Gartner, Inc. (a) | 48 | 16,815 | ||||||
| Global Payments, Inc. | 6,900 | 679,788 | ||||||
| 2,141,468 | ||||||||
| Food — 3.3% | ||||||||
| Conagra Brands, Inc. | 26,311 | 887,207 | ||||||
| Koninklijke Ahold Delhaize NV | 24,190 | 825,117 | ||||||
| Kroger Co. | 13,997 | 657,859 | ||||||
| Post Holdings, Inc. (a) | 8,100 | 701,865 | ||||||
| The J.M. Smucker Co. | 2,010 | 296,816 | ||||||
| Tyson Foods, Inc. Class A | 8,900 | 454,256 | ||||||
| U.S. Foods Holding Corp. (a) | 1,096 | 48,224 | ||||||
| 3,871,344 | ||||||||
| Health Care – Products — 3.5% | ||||||||
| Align Technology, Inc. (a) | 113 | 39,961 | ||||||
| Dentsply Sirona, Inc. | 6,310 | 252,526 | ||||||
| Embecta Corp. | 9,834 | 212,415 | ||||||
| Envista Holdings Corp. (a) | 9,103 | 308,046 | ||||||
| Hologic, Inc. (a) | 9,458 | 765,814 | ||||||
| Koninklijke Philips NV (b) | 28,937 | 627,644 | ||||||
| QIAGEN NV (a) | 1,404 | 63,222 | ||||||
| Smith & Nephew PLC ADR Sponsored ADR | 1,441 | 46,472 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Zimmer Biomet Holdings, Inc. | 11,952 | $ | 1,740,211 | |||||
| 4,056,311 | ||||||||
| Health Care – Services — 3.5% | ||||||||
| Catalent, Inc. (a) | 4,700 | 203,792 | ||||||
| Centene Corp. (a) | 16,556 | 1,116,702 | ||||||
| IQVIA Holdings, Inc. (a) | 78 | 17,532 | ||||||
| Laboratory Corp. of America Holdings | 5,951 | 1,436,155 | ||||||
| Quest Diagnostics, Inc. | 4,675 | 657,118 | ||||||
| Universal Health Services, Inc. Class B | 3,860 | 608,992 | ||||||
| 4,040,291 | ||||||||
| Household Products & Wares — 0.5% | ||||||||
| Kimberly-Clark Corp. | 4,295 | 592,968 | ||||||
| Pharmaceuticals — 4.3% | ||||||||
| AmerisourceBergen Corp. | 6,763 | 1,301,404 | ||||||
| Becton Dickinson & Co. | 815 | 215,168 | ||||||
| Cardinal Health, Inc. | 10,844 | 1,025,517 | ||||||
| Elanco Animal Health, Inc. (a) | 23,431 | 235,716 | ||||||
| Henry Schein, Inc. (a) | 9,813 | 795,834 | ||||||
| Jazz Pharmaceuticals PLC (a) | 1,843 | 228,477 | ||||||
| Organon & Co. | 14,900 | 310,069 | ||||||
| Perrigo Co. PLC | 22,100 | 750,295 | ||||||
| Premier, Inc. Class A | 4,519 | 124,996 | ||||||
| 4,987,476 | ||||||||
| 21,281,983 | ||||||||
| Energy — 6.0% | ||||||||
| Energy – Alternate Sources — 0.1% | ||||||||
| Enphase Energy, Inc. (a) | 185 | 30,984 | ||||||
| Oil & Gas — 3.6% | ||||||||
| APA Corp. | 1,685 | 57,577 | ||||||
| Chesapeake Energy Corp. | 6,200 | 518,816 | ||||||
| Devon Energy Corp. | 6,139 | 296,759 | ||||||
| Diamondback Energy, Inc. | 5,887 | 773,316 | ||||||
| EQT Corp. | 16,940 | 696,742 | ||||||
| HF Sinclair Corp. | 10,022 | 447,082 | ||||||
| Marathon Oil Corp. | 24,413 | 561,987 | ||||||
| Phillips 66 | 6,974 | 665,180 | ||||||
| Range Resources Corp. | 3,749 | 110,221 | ||||||
| Vitesse Energy, Inc. | 1,360 | 30,464 | ||||||
| 4,158,144 | ||||||||
| Oil & Gas Services — 0.4% | ||||||||
| Baker Hughes Co. | 14,325 | 452,813 | ||||||
| Pipelines — 1.9% | ||||||||
| Enterprise Products Partners LP (c) | 25,473 | 671,213 | ||||||
| Kinder Morgan, Inc. | 42,200 | 726,684 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Williams Cos., Inc. | 25,100 | $ | 819,013 | |||||
| 2,216,910 | ||||||||
| 6,858,851 | ||||||||
| Financial — 21.0% | ||||||||
| Banks — 3.5% | ||||||||
| Comerica, Inc. | 465 | 19,697 | ||||||
| East West Bancorp, Inc. | 5,307 | 280,156 | ||||||
| First Citizens BancShares, Inc. Class A | 394 | 505,679 | ||||||
| First Hawaiian, Inc. | 21,946 | 395,247 | ||||||
| Northern Trust Corp. | 12,550 | 930,457 | ||||||
| Prosperity Bancshares, Inc. | 4,120 | 232,698 | ||||||
| The Bank of New York Mellon Corp. | 19,440 | 865,469 | ||||||
| Truist Financial Corp. | 14,916 | 452,701 | ||||||
| U.S. Bancorp | 7,924 | 261,809 | ||||||
| Westamerica Bancorp. | 2,922 | 111,913 | ||||||
| 4,055,826 | ||||||||
| Diversified Financial Services — 2.2% | ||||||||
| Ally Financial, Inc. | 18,850 | 509,139 | ||||||
| Apollo Global Management, Inc. | 450 | 34,565 | ||||||
| Blue Owl Capital, Inc. | 18,156 | 211,517 | ||||||
| Charles Schwab Corp. | 5,833 | 330,614 | ||||||
| Nasdaq, Inc. | 10,221 | 509,517 | ||||||
| Stifel Financial Corp. | 4,906 | 292,741 | ||||||
| Synchrony Financial | 2,529 | 85,784 | ||||||
| T. Rowe Price Group, Inc. | 5,249 | 587,993 | ||||||
| 2,561,870 | ||||||||
| Insurance — 8.1% | ||||||||
| Aflac, Inc. | 6,700 | 467,660 | ||||||
| Arch Capital Group Ltd. (a) | 7,500 | 561,375 | ||||||
| Axis Capital Holdings Ltd. | 409 | 22,016 | ||||||
| Fidelity National Financial, Inc. | 18,862 | 679,032 | ||||||
| Hanover Insurance Group, Inc. | 2,935 | 331,743 | ||||||
| Hartford Financial Services Group, Inc. | 8,691 | 625,926 | ||||||
| Loews Corp. | 5,315 | 315,605 | ||||||
| Markel Group, Inc. (a) | 500 | 691,590 | ||||||
| Old Republic International Corp. | 15,500 | 390,135 | ||||||
| Reinsurance Group of America, Inc. | 7,393 | 1,025,335 | ||||||
| The Allstate Corp. | 21,320 | 2,324,733 | ||||||
| W. R. Berkley Corp. | 8,919 | 531,216 | ||||||
| Willis Towers Watson PLC | 5,781 | 1,361,425 | ||||||
| 9,327,791 | ||||||||
| Private Equity — 0.3% | ||||||||
| Carlyle Group, Inc. | 10,082 | 322,120 | ||||||
| Real Estate Investment Trusts (REITS) — 6.8% | ||||||||
| AvalonBay Communities, Inc. | 3,486 | 659,795 | ||||||
| Brixmor Property Group, Inc. | 1,564 | 34,408 | ||||||
| Camden Property Trust | 5,169 | 562,749 | ||||||
| Equinix, Inc. | 104 | 81,530 | ||||||
| Equity Residential | 9,874 | 651,388 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Essex Property Trust, Inc. | 2,010 | $ | 470,943 | |||||
| First Industrial Realty Trust, Inc. | 1,902 | 100,121 | ||||||
| Gaming & Leisure Properties, Inc. | 10,600 | 513,676 | ||||||
| Healthpeak Properties, Inc. | 50,181 | 1,008,638 | ||||||
| JBG SMITH Properties | 35,543 | 534,567 | ||||||
| Mid-America Apartment Communities, Inc. | 3,863 | 586,635 | ||||||
| Public Storage | 1,402 | 409,216 | ||||||
| Realty Income Corp. | 10,026 | 599,455 | ||||||
| Regency Centers Corp. | 8,517 | 526,095 | ||||||
| VICI Properties, Inc. | 3,292 | 103,468 | ||||||
| Weyerhaeuser Co. | 23,955 | 802,732 | ||||||
| WP Carey, Inc. | 3,192 | 215,651 | ||||||
| 7,861,067 | ||||||||
| Savings & Loans — 0.1% | ||||||||
| Capitol Federal Financial, Inc. | 17,778 | 109,690 | ||||||
| 24,238,364 | ||||||||
| Industrial — 13.9% | ||||||||
| Aerospace & Defense — 0.7% | ||||||||
| General Dynamics Corp. | 673 | 144,796 | ||||||
| Howmet Aerospace, Inc. | 12,930 | 640,811 | ||||||
| 785,607 | ||||||||
| Building Materials — 1.8% | ||||||||
| Builders FirstSource, Inc. (a) | 7,122 | 968,592 | ||||||
| Cie de Saint-Gobain | 8,561 | 521,514 | ||||||
| Louisiana-Pacific Corp. | 7,100 | 532,358 | ||||||
| Masterbrand, Inc. (a) | 3,000 | 34,890 | ||||||
| 2,057,354 | ||||||||
| Electrical Components & Equipment — 0.8% | ||||||||
| Emerson Electric Co. | 8,717 | 787,930 | ||||||
| Legrand SA | 1,698 | 168,444 | ||||||
| 956,374 | ||||||||
| Electronics — 3.2% | ||||||||
| Agilent Technologies, Inc. | 263 | 31,626 | ||||||
| Amphenol Corp. Class A | 6,919 | 587,769 | ||||||
| Flex Ltd. (a) | 14,700 | 406,308 | ||||||
| Hubbell, Inc. | 239 | 79,243 | ||||||
| Jabil, Inc. | 234 | 25,256 | ||||||
| Keysight Technologies, Inc. (a) | 3,570 | 597,797 | ||||||
| nVent Electric PLC | 17,032 | 880,043 | ||||||
| TE Connectivity Ltd. | 3,106 | 435,337 | ||||||
| Vontier Corp. | 18,702 | 602,391 | ||||||
| 3,645,770 | ||||||||
| Engineering & Construction — 0.4% | ||||||||
| Vinci SA | 3,994 | 464,212 | ||||||
| Environmental Controls — 0.2% | ||||||||
| Republic Services, Inc. | 1,311 | 200,806 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Machinery – Construction & Mining — 0.9% | ||||||||
| Oshkosh Corp. | 12,269 | $ | 1,062,373 | |||||
| Machinery – Diversified — 0.6% | ||||||||
| CNH Industrial NV | 29,700 | 427,680 | ||||||
| Gates Industrial Corp. PLC (a) | 5,645 | 76,095 | ||||||
| IMI PLC | 9,574 | 200,062 | ||||||
| 703,837 | ||||||||
| Miscellaneous - Manufacturing — 0.9% | ||||||||
| Carlisle Cos., Inc. | 245 | 62,850 | ||||||
| Donaldson Co., Inc. | 4,380 | 273,794 | ||||||
| ITT, Inc. | 1,464 | 136,459 | ||||||
| Textron, Inc. | 8,715 | 589,395 | ||||||
| 1,062,498 | ||||||||
| Packaging & Containers — 2.0% | ||||||||
| Amcor PLC | 50,289 | 501,884 | ||||||
| Graphic Packaging Holding Co. | 24,500 | 588,735 | ||||||
| Packaging Corp. of America | 5,253 | 694,236 | ||||||
| Sonoco Products Co. | 3,189 | 188,215 | ||||||
| WestRock Co. | 12,141 | 352,939 | ||||||
| 2,326,009 | ||||||||
| Shipbuilding — 1.4% | ||||||||
| Huntington Ingalls Industries, Inc. | 7,265 | 1,653,514 | ||||||
| Transportation — 1.0% | ||||||||
| FedEx Corp. | 3,200 | 793,280 | ||||||
| Heartland Express, Inc. | 17,672 | 289,998 | ||||||
| Kirby Corp. (a) | 318 | 24,470 | ||||||
| 1,107,748 | ||||||||
| 16,026,102 | ||||||||
| Technology — 4.6% | ||||||||
| Computers — 1.7% | ||||||||
| Amdocs Ltd. | 5,417 | 535,470 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 209 | 30,696 | ||||||
| Genpact Ltd. | 648 | 24,345 | ||||||
| Hewlett Packard Enterprise Co. | 18,072 | 303,610 | ||||||
| HP, Inc. | 12,921 | 396,804 | ||||||
| NetApp, Inc. | 617 | 47,139 | ||||||
| Pure Storage, Inc. Class A (a) | 2,934 | 108,030 | ||||||
| Western Digital Corp. (a) | 13,066 | 495,593 | ||||||
| 1,941,687 | ||||||||
| Semiconductors — 1.4% | ||||||||
| Cirrus Logic, Inc. (a) | 2,893 | 234,362 | ||||||
| IPG Photonics Corp. (a) | 178 | 24,176 | ||||||
| Microchip Technology, Inc. | 6,529 | 584,933 | ||||||
| Qorvo, Inc. (a) | 2,301 | 234,771 | ||||||
| Skyworks Solutions, Inc. | 2,241 | 248,056 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Teradyne, Inc. | 2,597 | $ | 289,124 | |||||
| 1,615,422 | ||||||||
| Software — 1.5% | ||||||||
| Cadence Design Systems, Inc. (a) | 64 | 15,009 | ||||||
| Datadog, Inc. Class A (a) | 348 | 34,236 | ||||||
| DocuSign, Inc. (a) | 617 | 31,523 | ||||||
| Dropbox, Inc. Class A (a) | 1,382 | 36,858 | ||||||
| Dynatrace, Inc. (a) | 661 | 34,022 | ||||||
| Elastic NV (a) | 529 | 33,919 | ||||||
| Electronic Arts, Inc. | 6,762 | 877,031 | ||||||
| Fidelity National Information Services, Inc. | 8,200 | 448,540 | ||||||
| HubSpot, Inc. (a) | 65 | 34,586 | ||||||
| Paychex, Inc. | 153 | 17,116 | ||||||
| RingCentral, Inc. Class A (a) | 931 | 30,472 | ||||||
| Splunk, Inc. (a) | 329 | 34,904 | ||||||
| Synopsys, Inc. (a) | 32 | 13,933 | ||||||
| Teradata Corp. (a) | 341 | 18,213 | ||||||
| Veeva Systems, Inc. Class A (a) | 167 | 33,021 | ||||||
| 1,693,383 | ||||||||
| 5,250,492 | ||||||||
| Utilities — 10.8% | ||||||||
| Electric — 9.0% | ||||||||
| CenterPoint Energy, Inc. | 24,500 | 714,175 | ||||||
| Dominion Energy, Inc. | 14,800 | 766,492 | ||||||
| DTE Energy Co. | 2,186 | 240,504 | ||||||
| Duke Energy Corp. | 6,056 | 543,466 | ||||||
| Edison International | 22,412 | 1,556,513 | ||||||
| Entergy Corp. | 5,854 | 570,004 | ||||||
| Evergy, Inc. | 21,421 | 1,251,415 | ||||||
| Eversource Energy | 12,515 | 887,564 | ||||||
| Exelon Corp. | 15,000 | 611,100 | ||||||
| NorthWestern Corp. | 11,161 | 633,498 | ||||||
| OGE Energy Corp. | 22,719 | 815,839 | ||||||
| PG&E Corp. (a) | 39,510 | 682,733 | ||||||
| Pinnacle West Capital Corp. | 5,509 | 448,763 | ||||||
| Vistra Corp. | 27,300 | 716,625 | ||||||
| 10,438,691 | ||||||||
| Gas — 1.8% | ||||||||
| Atmos Energy Corp. | 1,917 | 223,024 | ||||||
| National Fuel Gas Co. | 4,500 | 231,120 | ||||||
| NiSource, Inc. | 33,100 | 905,285 | ||||||
| Spire, Inc. | 10,954 | 694,921 | ||||||
| 2,054,350 | ||||||||
| 12,493,041 | ||||||||
| TOTAL COMMON STOCK (Cost $109,294,309) | 111,866,276 | |||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| PREFERRED STOCK — 0.3% | ||||||||
| Consumer, Non-cyclical — 0.3% | ||||||||
| Household Products & Wares — 0.3% | ||||||||
| Henkel AG & Co. KGaA 2.525% | 4,744 | $ | 379,220 | |||||
| TOTAL PREFERRED STOCK (Cost $313,077) | 379,220 | |||||||
| TOTAL EQUITIES (Cost $109,607,386) | 112,245,496 | |||||||
| MUTUAL FUNDS — 0.5% | ||||||||
| Diversified Financial Services — 0.5% | ||||||||
| iShares Russell Mid-Cap Value ETF (b) | 4,910 | 539,314 | ||||||
| 539,314 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $536,291) | 539,314 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $110,143,677) | 112,784,810 | |||||||
| SHORT-TERM INVESTMENTS — 2.3% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (d) | 32,240 | 32,240 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 2.3% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (e) | $ | 2,679,056 | 2,679,056 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,711,296) | 2,711,296 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $112,854,973) (f) | 115,496,106 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (92,371) | |||||||
| NET ASSETS — 100.0% | $ | 115,403,735 | ||||||
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 June 30, 2023, was $1,177,343 or 1.02% of net assets. The Fund received $1,180,052 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 $2,679,395. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $2,732,744. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 9/29/23 | USD | 708,783 | EUR | 646,006 | $ | 843 | |||||||||
| Bank of America N.A. | 9/29/23 | USD | 374,308 | GBP | 294,752 | (99) | ||||||||||
| Goldman Sachs & Co. | 9/29/23 | USD | 58,908 | CAD | 77,973 | (30) | ||||||||||
| JP Morgan Chase Bank N.A. | 9/29/23 | USD | 1,374,670 | EUR | 1,254,078 | 361 | ||||||||||
| Morgan Stanley & Co. LLC | 9/29/23 | USD | 708,835 | EUR | 646,006 | 895 | ||||||||||
| $ | 1,970 | |||||||||||||||
Currency Legend
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |
| USD | U.S. Dollar |
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 96.8% | ||||||||
| COMMON STOCK — 96.8% | ||||||||
| Basic Materials — 8.7% | ||||||||
| Chemicals — 4.3% | ||||||||
| Axalta Coating Systems Ltd. (a) | 13,239 | $ | 434,372 | |||||
| Cabot Corp. | 10,645 | 712,044 | ||||||
| Element Solutions, Inc. | 26,979 | 517,997 | ||||||
| HB Fuller Co. | 5,522 | 394,878 | ||||||
| Mativ Holdings, Inc. | 24,219 | 366,191 | ||||||
| 2,425,482 | ||||||||
| Iron & Steel — 2.2% | ||||||||
| ATI, Inc. (a) | 27,728 | 1,226,409 | ||||||
| Mining — 2.2% | ||||||||
| Ferroglobe PLC (a) | 92,716 | 442,255 | ||||||
| Kaiser Aluminum Corp. | 11,388 | 815,837 | ||||||
| 1,258,092 | ||||||||
| 4,909,983 | ||||||||
| Communications — 4.1% | ||||||||
| Internet — 2.0% | ||||||||
| ePlus, Inc. (a) | 6,442 | 362,684 | ||||||
| Perficient, Inc. (a) | 5,387 | 448,899 | ||||||
| Shutterstock, Inc. | 6,240 | 303,701 | ||||||
| 1,115,284 | ||||||||
| Media — 0.1% | ||||||||
| WideOpenWest, Inc. (a) | 10,000 | 84,400 | ||||||
| Telecommunications — 2.0% | ||||||||
| Ciena Corp. (a) | 18,785 | 798,175 | ||||||
| Infinera Corp. (a) (b) | 72,787 | 351,561 | ||||||
| 1,149,736 | ||||||||
| 2,349,420 | ||||||||
| Consumer, Cyclical — 11.7% | ||||||||
| Apparel — 1.1% | ||||||||
| Deckers Outdoor Corp. (a) | 392 | 206,843 | ||||||
| Kontoor Brands, Inc. | 10,081 | 424,410 | ||||||
| 631,253 | ||||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Auto Parts & Equipment — 4.7% | ||||||||
| Adient PLC (a) | 22,281 | $ | 853,808 | |||||
| American Axle & Manufacturing Holdings, Inc. (a) | 80,957 | 669,514 | ||||||
| Gentherm, Inc. (a) | 13,121 | 741,468 | ||||||
| Visteon Corp. (a) | 2,938 | 421,926 | ||||||
| 2,686,716 | ||||||||
| Food Services — 1.1% | ||||||||
| Aramark | 14,925 | 642,521 | ||||||
| Home Builders — 1.5% | ||||||||
| Century Communities, Inc. | 5,352 | 410,070 | ||||||
| TRI Pointe Homes, Inc. (a) | 13,551 | 445,286 | ||||||
| 855,356 | ||||||||
| Home Furnishing — 0.6% | ||||||||
| Sonos, Inc. (a) | 19,885 | 324,722 | ||||||
| Lodging — 0.7% | ||||||||
| Wyndham Hotels & Resorts, Inc. | 5,378 | 368,769 | ||||||
| Office Furnishings — 0.6% | ||||||||
| Interface, Inc. | 41,345 | 363,423 | ||||||
| Retail — 0.7% | ||||||||
| Five Below, Inc. (a) | 1,999 | 392,884 | ||||||
| Textiles — 0.7% | ||||||||
| UniFirst Corp. | 2,537 | 393,260 | ||||||
| 6,658,904 | ||||||||
| Consumer, Non-cyclical — 11.2% | ||||||||
| Agriculture — 1.5% | ||||||||
| Darling Ingredients, Inc. (a) | 13,369 | 852,809 | ||||||
| Commercial Services — 5.1% | ||||||||
| BrightView Holdings, Inc. (a) | 29,626 | 212,715 | ||||||
| Huron Consulting Group, Inc. (a) | 5,727 | 486,279 | ||||||
| ICF International, Inc. | 2,317 | 288,212 | ||||||
| Monro, Inc. | 9,688 | 393,623 | ||||||
| Sterling Check Corp. (a) | 30,647 | 375,732 | ||||||
| TriNet Group, Inc. (a) | 2,466 | 234,196 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 19,310 | 922,825 | ||||||
| 2,913,582 | ||||||||
| Food — 1.6% | ||||||||
| Post Holdings, Inc. (a) | 3,358 | 290,971 | ||||||
| SunOpta, Inc. (a) | 51,000 | 341,190 | ||||||
| U.S. Foods Holding Corp. (a) | 5,619 | 247,236 | ||||||
| 879,397 | ||||||||
| Health Care – Products — 1.9% | ||||||||
| Haemonetics Corp. (a) | 2,682 | 228,346 | ||||||
| ICU Medical, Inc. (a) | 2,216 | 394,869 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Integra LifeSciences Holdings Corp. (a) | 11,446 | $ | 470,774 | |||||
| 1,093,989 | ||||||||
| Household Products & Wares — 1.1% | ||||||||
| ACCO Brands Corp. | 41,281 | 215,074 | ||||||
| Spectrum Brands Holdings, Inc. | 5,504 | 429,587 | ||||||
| 644,661 | ||||||||
| 6,384,438 | ||||||||
| Energy — 2.8% | ||||||||
| Oil & Gas — 2.2% | ||||||||
| Chesapeake Energy Corp. | 3,364 | 281,500 | ||||||
| Chord Energy Corp. | 3,159 | 485,854 | ||||||
| Sitio Royalties Corp. Class A | 17,614 | 462,720 | ||||||
| 1,230,074 | ||||||||
| Oil & Gas Services — 0.6% | ||||||||
| NOW, Inc. (a) | 35,651 | 369,344 | ||||||
| 1,599,418 | ||||||||
| Financial — 25.9% | ||||||||
| Banks — 12.7% | ||||||||
| Cadence Bank | 12,953 | 254,397 | ||||||
| Columbia Banking System, Inc. | 33,670 | 682,828 | ||||||
| Eastern Bankshares, Inc. | 25,436 | 312,100 | ||||||
| First Citizens BancShares, Inc. Class A | 417 | 535,199 | ||||||
| First Interstate BancSystem, Inc. Class A | 9,971 | 237,709 | ||||||
| Hancock Whitney Corp. | 8,701 | 333,944 | ||||||
| International Bancshares Corp. | 5,982 | 264,404 | ||||||
| Live Oak Bancshares, Inc. | 20,742 | 545,722 | ||||||
| OFG Bancorp | 32,432 | 845,826 | ||||||
| Old National Bancorp | 43,573 | 607,408 | ||||||
| Seacoast Banking Corp. of Florida | 15,120 | 334,152 | ||||||
| Synovus Financial Corp. | 8,864 | 268,136 | ||||||
| Texas Capital Bancshares, Inc. (a) | 16,835 | 867,002 | ||||||
| Triumph Financial, Inc. (a) | 13,104 | 795,675 | ||||||
| Webster Financial Corp. | 8,142 | 307,360 | ||||||
| 7,191,862 | ||||||||
| Diversified Financial Services — 2.1% | ||||||||
| Air Lease Corp. | 10,726 | 448,883 | ||||||
| Bread Financial Holdings, Inc. | 11,859 | 372,254 | ||||||
| Houlihan Lokey, Inc. | 3,607 | 354,604 | ||||||
| 1,175,741 | ||||||||
| Insurance — 4.8% | ||||||||
| Assured Guaranty Ltd. | 5,454 | 304,333 | ||||||
| Kemper Corp. | 9,439 | 455,526 | ||||||
| NMI Holdings, Inc. Class A (a) | 15,861 | 409,531 | ||||||
| ProAssurance Corp. | 23,761 | 358,554 | ||||||
| Reinsurance Group of America, Inc. | 3,749 | 519,949 | ||||||
| SiriusPoint Ltd. (a) | 34,404 | 310,668 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| White Mountains Insurance Group Ltd. | 263 | $ | 365,283 | |||||
| 2,723,844 | ||||||||
| Real Estate Investment Trusts (REITS) — 6.3% | ||||||||
| Alexander & Baldwin, Inc. | 15,154 | 281,561 | ||||||
| Centerspace | 5,257 | 322,570 | ||||||
| Independence Realty Trust, Inc. | 24,863 | 453,004 | ||||||
| Kimco Realty Corp. | 17,845 | 351,903 | ||||||
| LXP Industrial Trust | 26,846 | 261,749 | ||||||
| NETSTREIT Corp. | 15,623 | 279,183 | ||||||
| Pebblebrook Hotel Trust (b) | 26,117 | 364,071 | ||||||
| Phillips Edison & Co., Inc. (b) | 11,062 | 376,993 | ||||||
| PotlatchDeltic Corp. | 8,815 | 465,873 | ||||||
| RPT Realty | 40,605 | 424,322 | ||||||
| 3,581,229 | ||||||||
| 14,672,676 | ||||||||
| Industrial — 24.5% | ||||||||
| Aerospace & Defense — 0.6% | ||||||||
| Leonardo DRS, Inc. (a) (b) | 19,012 | 329,668 | ||||||
| Building Materials — 5.9% | ||||||||
| American Woodmark Corp. (a) | 5,552 | 424,006 | ||||||
| Apogee Enterprises, Inc. | 16,092 | 763,887 | ||||||
| Fortune Brands Innovations, Inc. | 5,543 | 398,819 | ||||||
| Gibraltar Industries, Inc. (a) | 15,597 | 981,363 | ||||||
| Masonite International Corp. (a) | 7,922 | 811,530 | ||||||
| 3,379,605 | ||||||||
| Electrical Components & Equipment — 0.9% | ||||||||
| Belden, Inc. | 5,218 | 499,102 | ||||||
| Electronics — 3.1% | ||||||||
| Brady Corp. Class A | 8,198 | 389,979 | ||||||
| Coherent Corp. (a) | 21,044 | 1,072,823 | ||||||
| CTS Corp. | 7,141 | 304,421 | ||||||
| 1,767,223 | ||||||||
| Environmental Controls — 1.6% | ||||||||
| Clean Harbors, Inc. (a) | 1,393 | 229,051 | ||||||
| Enviri Corp. (a) | 68,826 | 679,313 | ||||||
| 908,364 | ||||||||
| Hand & Machine Tools — 2.9% | ||||||||
| Enerpac Tool Group Corp. | 35,898 | 969,246 | ||||||
| Kennametal, Inc. | 23,519 | 667,704 | ||||||
| 1,636,950 | ||||||||
| Machinery – Diversified — 0.3% | ||||||||
| Thermon Group Holdings, Inc. (a) | 6,132 | 163,111 | ||||||
| Metal Fabricate & Hardware — 0.9% | ||||||||
| Standex International Corp. | 3,713 | 525,278 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Miscellaneous - Manufacturing — 1.6% | ||||||||
| John Bean Technologies Corp. | 2,901 | $ | 351,891 | |||||
| Materion Corp. | 4,703 | 537,083 | ||||||
| 888,974 | ||||||||
| Packaging & Containers — 1.7% | ||||||||
| Sealed Air Corp. | 10,073 | 402,920 | ||||||
| TriMas Corp. | 19,724 | 542,213 | ||||||
| 945,133 | ||||||||
| Transportation — 2.7% | ||||||||
| Air Transport Services Group, Inc. (a) | 37,136 | 700,756 | ||||||
| Kirby Corp. (a) | 10,645 | 819,133 | ||||||
| 1,519,889 | ||||||||
| Trucking & Leasing — 2.3% | ||||||||
| GATX Corp. | 2,349 | 302,410 | ||||||
| Greenbrier Cos., Inc. | 24,014 | 1,035,004 | ||||||
| 1,337,414 | ||||||||
| 13,900,711 | ||||||||
| Technology — 6.3% | ||||||||
| Computers — 1.3% | ||||||||
| Science Applications International Corp. | 3,624 | 407,627 | ||||||
| WNS Holdings Ltd. ADR (a) | 4,293 | 316,480 | ||||||
| 724,107 | ||||||||
| Semiconductors — 3.3% | ||||||||
| Cohu, Inc. (a) | 19,063 | 792,258 | ||||||
| Diodes, Inc. (a) | 7,674 | 709,768 | ||||||
| Onto Innovation, Inc. (a) | 1,268 | 147,684 | ||||||
| Vishay Precision Group, Inc. (a) | 6,436 | 239,098 | ||||||
| 1,888,808 | ||||||||
| Software — 1.7% | ||||||||
| ACI Worldwide, Inc. (a) | 18,497 | 428,576 | ||||||
| Progress Software Corp. | 9,032 | 524,759 | ||||||
| 953,335 | ||||||||
| 3,566,250 | ||||||||
| Utilities — 1.6% | ||||||||
| Electric — 0.5% | ||||||||
| Portland General Electric Co. | 5,948 | 278,545 | ||||||
| Gas — 1.1% | ||||||||
| New Jersey Resources Corp. | 6,019 | 284,097 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| ONE Gas, Inc. | 4,313 | $ | 331,281 | |||||
| 615,378 | ||||||||
| 893,923 | ||||||||
| TOTAL COMMON STOCK (Cost $48,589,149) | 54,935,723 | |||||||
| TOTAL EQUITIES (Cost $48,589,149) | 54,935,723 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $48,589,149) | 54,935,723 | |||||||
| SHORT-TERM INVESTMENTS — 3.6% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.9% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 481,223 | 481,223 | ||||||
| Repurchase Agreement — 2.7% | Principal Amount | |||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 1,553,063 | 1,553,063 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,034,286) | 2,034,286 | |||||||
| TOTAL INVESTMENTS — 100.4% (Cost $50,623,435) (e) | 56,970,009 | |||||||
| Other Assets/(Liabilities) — (0.4)% | (216,605) | |||||||
| NET ASSETS — 100.0% | $ | 56,753,404 | ||||||
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 June 30, 2023, was $1,323,732 or 2.33% of net assets. The Fund received $877,929 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 $1,553,260. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,584,228. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Small Company Value Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.9% | ||||||||
| COMMON STOCK — 98.9% | ||||||||
| Basic Materials — 3.5% | ||||||||
| Chemicals — 1.8% | ||||||||
| AdvanSix, Inc. | 39,100 | $ | 1,367,718 | |||||
| Element Solutions, Inc. | 13,478 | 258,777 | ||||||
| HB Fuller Co. | 18,570 | 1,327,941 | ||||||
| Ingevity Corp. (a) | 4,181 | 243,167 | ||||||
| Minerals Technologies, Inc. | 12,590 | 726,317 | ||||||
| 3,923,920 | ||||||||
| Iron & Steel — 1.7% | ||||||||
| ATI, Inc. (a) | 39,310 | 1,738,681 | ||||||
| Haynes International, Inc. | 35,079 | 1,782,715 | ||||||
| 3,521,396 | ||||||||
| 7,445,316 | ||||||||
| Communications — 2.6% | ||||||||
| Advertising — 0.2% | ||||||||
| Entravision Communications Corp. Class A | 100,897 | 442,938 | ||||||
| Internet — 1.0% | ||||||||
| Criteo SA Sponsored ADR (a) | 59,331 | 2,001,828 | ||||||
| Solo Brands, Inc. Class A (a) | 37,637 | 213,025 | ||||||
| 2,214,853 | ||||||||
| Media — 0.4% | ||||||||
| Cable One, Inc. | 1,149 | 754,985 | ||||||
| Townsquare Media, Inc. Class A | 8,035 | 95,697 | ||||||
| 850,682 | ||||||||
| Telecommunications — 1.0% | ||||||||
| A10 Networks, Inc. | 121,259 | 1,769,169 | ||||||
| Casa Systems, Inc. (a) | 203,780 | 248,611 | ||||||
| 2,017,780 | ||||||||
| 5,526,253 | ||||||||
| Consumer, Cyclical — 18.5% | ||||||||
| Airlines — 0.8% | ||||||||
| Alaska Air Group, Inc. (a) | 33,110 | 1,760,790 | ||||||
| Apparel — 0.9% | ||||||||
| Capri Holdings Ltd. (a) | 22,793 | 818,041 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Tapestry, Inc. | 24,831 | $ | 1,062,767 | |||||
| 1,880,808 | ||||||||
| Auto Manufacturers — 1.5% | ||||||||
| Blue Bird Corp. (a) | 65,696 | 1,476,846 | ||||||
| REV Group, Inc. | 129,710 | 1,719,955 | ||||||
| 3,196,801 | ||||||||
| Auto Parts & Equipment — 2.5% | ||||||||
| Dana, Inc. | 87,086 | 1,480,462 | ||||||
| Goodyear Tire & Rubber Co. (a) | 139,570 | 1,909,317 | ||||||
| Shyft Group, Inc. | 79,278 | 1,748,873 | ||||||
| 5,138,652 | ||||||||
| Distribution & Wholesale — 0.6% | ||||||||
| A-Mark Precious Metals, Inc. | 15,600 | 583,986 | ||||||
| H&E Equipment Services, Inc. | 5,500 | 251,625 | ||||||
| OPENLANE, Inc. (a) | 18,327 | 278,937 | ||||||
| Titan Machinery, Inc. (a) | 1,883 | 55,548 | ||||||
| 1,170,096 | ||||||||
| Entertainment — 1.9% | ||||||||
| Accel Entertainment, Inc. (a) | 43,704 | 461,514 | ||||||
| Everi Holdings, Inc. (a) | 22,065 | 319,060 | ||||||
| IMAX Corp. (a) | 63,733 | 1,082,823 | ||||||
| Penn Entertainment, Inc. (a) | 19,057 | 457,940 | ||||||
| Six Flags Entertainment Corp. (a) | 65,310 | 1,696,754 | ||||||
| 4,018,091 | ||||||||
| Home Builders — 2.8% | ||||||||
| Cavco Industries, Inc. (a) | 874 | 257,830 | ||||||
| KB Home | 34,388 | 1,778,204 | ||||||
| Skyline Champion Corp. (a) | 24,055 | 1,574,400 | ||||||
| Taylor Morrison Home Corp. (a) | 44,864 | 2,188,017 | ||||||
| 5,798,451 | ||||||||
| Home Furnishing — 0.1% | ||||||||
| Vizio Holding Corp. Class A (a) | 27,811 | 187,724 | ||||||
| Leisure Time — 1.0% | ||||||||
| Brunswick Corp. | 16,671 | 1,444,376 | ||||||
| Malibu Boats, Inc. Class A (a) | 12,229 | 717,353 | ||||||
| 2,161,729 | ||||||||
| Lodging — 0.9% | ||||||||
| Boyd Gaming Corp. | 3,783 | 262,427 | ||||||
| Hilton Grand Vacations, Inc. (a) | 33,033 | 1,501,019 | ||||||
| 1,763,446 | ||||||||
| Retail — 5.5% | ||||||||
| Beacon Roofing Supply, Inc. (a) | 13,390 | 1,111,102 | ||||||
| Citi Trends, Inc. (a) | 43,009 | 759,539 | ||||||
| Dave & Buster's Entertainment, Inc. (a) | 18,934 | 843,699 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Dine Brands Global, Inc. | 24,418 | $ | 1,416,976 | |||||
| Genesco, Inc. (a) | 37,750 | 945,260 | ||||||
| GMS, Inc. (a) | 14,428 | 998,418 | ||||||
| MarineMax, Inc. (a) | 20,994 | 717,155 | ||||||
| OneWater Marine, Inc. Class A (a) (b) | 18,143 | 657,502 | ||||||
| Papa John's International, Inc. | 20,300 | 1,498,749 | ||||||
| Penske Automotive Group, Inc. | 3,219 | 536,382 | ||||||
| Red Robin Gourmet Burgers, Inc. (a) | 8,248 | 114,070 | ||||||
| Sally Beauty Holdings, Inc. (a) | 161,071 | 1,989,227 | ||||||
| 11,588,079 | ||||||||
| 38,664,667 | ||||||||
| Consumer, Non-cyclical — 13.3% | ||||||||
| Agriculture — 0.1% | ||||||||
| Turning Point Brands, Inc. | 8,948 | 214,842 | ||||||
| Commercial Services — 6.3% | ||||||||
| Adtalem Global Education, Inc. (a) | 50,537 | 1,735,440 | ||||||
| AMN Healthcare Services, Inc. (a) | 1,118 | 121,996 | ||||||
| Barrett Business Services, Inc. | 3,952 | 344,614 | ||||||
| Brink's Co. | 19,278 | 1,307,627 | ||||||
| Deluxe Corp. | 28,900 | 505,172 | ||||||
| Euronet Worldwide, Inc. (a) | 7,099 | 833,210 | ||||||
| EVERTEC, Inc. | 40,280 | 1,483,512 | ||||||
| Herc Holdings, Inc. | 16,114 | 2,205,201 | ||||||
| ICF International, Inc. | 12,740 | 1,584,729 | ||||||
| Korn Ferry | 54,452 | 2,697,552 | ||||||
| Loomis AB | 12,729 | 371,710 | ||||||
| 13,190,763 | ||||||||
| Cosmetics & Personal Care — 0.5% | ||||||||
| Edgewell Personal Care Co. | 27,636 | 1,141,643 | ||||||
| Food — 1.7% | ||||||||
| Hain Celestial Group, Inc. (a) | 115,204 | 1,441,202 | ||||||
| Nomad Foods Ltd. (a) | 116,228 | 2,036,315 | ||||||
| 3,477,517 | ||||||||
| Health Care – Products — 2.2% | ||||||||
| Embecta Corp. | 21,850 | 471,960 | ||||||
| Enovis Corp. (a) | 8,267 | 530,080 | ||||||
| Envista Holdings Corp. (a) | 58,712 | 1,986,814 | ||||||
| Integra LifeSciences Holdings Corp. (a) | 39,840 | 1,638,619 | ||||||
| 4,627,473 | ||||||||
| Health Care – Services — 1.9% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 25,330 | 2,017,282 | ||||||
| Pediatrix Medical Group, Inc. (a) | 137,920 | 1,959,843 | ||||||
| 3,977,125 | ||||||||
| Household Products & Wares — 0.6% | ||||||||
| Spectrum Brands Holdings, Inc. | 14,888 | 1,162,008 | ||||||
| 27,791,371 | ||||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Energy — 4.9% | ||||||||
| Energy – Alternate Sources — 0.1% | ||||||||
| Enviva, Inc. (b) | 16,292 | $ | 176,768 | |||||
| Oil & Gas — 3.0% | ||||||||
| Earthstone Energy, Inc. Class A (a) | 20,811 | 297,389 | ||||||
| HF Sinclair Corp. | 28,380 | 1,266,032 | ||||||
| Magnolia Oil & Gas Corp. Class A | 140,842 | 2,943,598 | ||||||
| Northern Oil & Gas, Inc. | 55,354 | 1,899,749 | ||||||
| 6,406,768 | ||||||||
| Oil & Gas Services — 1.8% | ||||||||
| ChampionX Corp. | 121,773 | 3,779,834 | ||||||
| 10,363,370 | ||||||||
| Financial — 28.3% | ||||||||
| Banks — 15.0% | ||||||||
| 1st Source Corp. | 31,748 | 1,331,194 | ||||||
| Ameris Bancorp | 19,492 | 666,821 | ||||||
| Associated Banc-Corp. | 98,839 | 1,604,157 | ||||||
| Bank of Marin Bancorp | 32,926 | 581,802 | ||||||
| BankUnited, Inc. | 64,735 | 1,395,039 | ||||||
| Carter Bankshares, Inc. (a) | 66,675 | 986,123 | ||||||
| Columbia Banking System, Inc. | 23,653 | 479,683 | ||||||
| ConnectOne Bancorp, Inc. | 7,606 | 126,183 | ||||||
| CVB Financial Corp. | 27,744 | 368,440 | ||||||
| First BanCorp | 271,081 | 3,312,610 | ||||||
| First Busey Corp. | 61,276 | 1,231,648 | ||||||
| First Interstate BancSystem, Inc. Class A | 21,359 | 509,199 | ||||||
| First Merchants Corp. | 9,426 | 266,096 | ||||||
| First Mid Bancshares, Inc. | 1,049 | 25,323 | ||||||
| FNB Corp. | 108,972 | 1,246,640 | ||||||
| HarborOne Bancorp, Inc. | 117,527 | 1,020,134 | ||||||
| Heritage Financial Corp. | 76,792 | 1,241,727 | ||||||
| Home BancShares, Inc. | 55,250 | 1,259,700 | ||||||
| Independent Bank Group, Inc. | 33,458 | 1,155,305 | ||||||
| Nicolet Bankshares, Inc. | 12,682 | 861,235 | ||||||
| Old National Bancorp | 106,532 | 1,485,056 | ||||||
| Origin Bancorp, Inc. | 9,122 | 267,275 | ||||||
| Peoples Bancorp, Inc. | 31,298 | 830,962 | ||||||
| Premier Financial Corp. | 76,972 | 1,233,091 | ||||||
| QCR Holdings, Inc. | 3,798 | 155,832 | ||||||
| Sandy Spring Bancorp, Inc. | 13,409 | 304,116 | ||||||
| SouthState Corp. | 18,841 | 1,239,738 | ||||||
| Synovus Financial Corp. | 27,337 | 826,944 | ||||||
| Texas Capital Bancshares, Inc. (a) | 36,080 | 1,858,120 | ||||||
| Towne Bank | 8,259 | 191,939 | ||||||
| TriCo Bancshares | 41,210 | 1,368,172 | ||||||
| UMB Financial Corp. | 14,518 | 884,146 | ||||||
| Valley National Bancorp | 112,253 | 869,961 | ||||||
| Veritex Holdings, Inc. | 8,330 | 149,357 | ||||||
| 31,333,768 | ||||||||
| Diversified Financial Services — 0.9% | ||||||||
| Enact Holdings, Inc. | 5,066 | 127,308 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Moelis & Co. Class A (b) | 37,599 | $ | 1,704,739 | |||||
| 1,832,047 | ||||||||
| Insurance — 2.5% | ||||||||
| Axis Capital Holdings Ltd. | 24,550 | 1,321,527 | ||||||
| Fidelis Insurance Holdings Ltd. (a) | 21,119 | 288,274 | ||||||
| Hanover Insurance Group, Inc. | 12,590 | 1,423,048 | ||||||
| Selective Insurance Group, Inc. | 21,894 | 2,100,729 | ||||||
| 5,133,578 | ||||||||
| Investment Companies — 0.6% | ||||||||
| Compass Diversified Holdings (b) | 58,406 | 1,266,826 | ||||||
| Private Equity — 0.1% | ||||||||
| Patria Investments Ltd. Class A | 16,320 | 233,376 | ||||||
| Real Estate Investment Trusts (REITS) — 6.7% | ||||||||
| Apartment Income REIT Corp. | 37,980 | 1,370,698 | ||||||
| Broadstone Net Lease, Inc. | 95,183 | 1,469,625 | ||||||
| CareTrust REIT, Inc. | 16,206 | 321,851 | ||||||
| Easterly Government Properties, Inc. (b) | 15,574 | 225,823 | ||||||
| First Industrial Realty Trust, Inc. | 20,148 | 1,060,591 | ||||||
| Four Corners Property Trust, Inc. | 24,052 | 610,921 | ||||||
| Highwoods Properties, Inc. | 21,297 | 509,211 | ||||||
| Kite Realty Group Trust | 27,662 | 617,969 | ||||||
| National Health Investors, Inc. | 6,161 | 322,960 | ||||||
| National Storage Affiliates Trust | 28,494 | 992,446 | ||||||
| NETSTREIT Corp. | 93,476 | 1,670,416 | ||||||
| Physicians Realty Trust | 141,470 | 1,979,165 | ||||||
| STAG Industrial, Inc. | 68,742 | 2,466,463 | ||||||
| Summit Hotel Properties, Inc. | 18,260 | 118,873 | ||||||
| UMH Properties, Inc. | 20,353 | 325,241 | ||||||
| 14,062,253 | ||||||||
| Savings & Loans — 2.5% | ||||||||
| Berkshire Hills Bancorp, Inc. | 72,857 | 1,510,326 | ||||||
| Pacific Premier Bancorp, Inc. | 93,331 | 1,930,085 | ||||||
| Provident Financial Services, Inc. | 16,463 | 269,006 | ||||||
| WSFS Financial Corp. | 42,245 | 1,593,481 | ||||||
| 5,302,898 | ||||||||
| 59,164,746 | ||||||||
| Industrial — 17.4% | ||||||||
| Aerospace & Defense — 0.6% | ||||||||
| Leonardo DRS, Inc. (a) (b) | 5,635 | 97,711 | ||||||
| Spirit AeroSystems Holdings, Inc. Class A | 42,220 | 1,232,402 | ||||||
| 1,330,113 | ||||||||
| Building Materials — 1.0% | ||||||||
| Hayward Holdings, Inc. (a) | 27,416 | 352,295 | ||||||
| Masonite International Corp. (a) | 12,227 | 1,252,534 | ||||||
| Tecnoglass, Inc. | 11,668 | 602,769 | ||||||
| 2,207,598 | ||||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Electrical Components & Equipment — 0.9% | ||||||||
| Belden, Inc. | 20,107 | $ | 1,923,235 | |||||
| Electronics — 2.8% | ||||||||
| Atmus Filtration Technologies, Inc. (a) | 11,034 | 242,307 | ||||||
| Avnet, Inc. | 27,978 | 1,411,490 | ||||||
| Coherent Corp. (a) | 31,906 | 1,626,568 | ||||||
| TTM Technologies, Inc. (a) | 151,717 | 2,108,866 | ||||||
| Vontier Corp. | 12,468 | 401,594 | ||||||
| 5,790,825 | ||||||||
| Engineering & Construction — 3.7% | ||||||||
| Arcosa, Inc. | 12,159 | 921,288 | ||||||
| Dycom Industries, Inc. (a) | 24,599 | 2,795,676 | ||||||
| Fluor Corp. (a) | 70,901 | 2,098,670 | ||||||
| Great Lakes Dredge & Dock Corp. (a) | 217,790 | 1,777,166 | ||||||
| NV5 Global, Inc. (a) | 1,862 | 206,254 | ||||||
| 7,799,054 | ||||||||
| Environmental Controls — 1.0% | ||||||||
| CECO Environmental Corp. (a) | 7,974 | 106,532 | ||||||
| Heritage-Crystal Clean, Inc. (a) | 51,958 | 1,963,493 | ||||||
| 2,070,025 | ||||||||
| Hand & Machine Tools — 0.1% | ||||||||
| Luxfer Holdings PLC | 9,596 | 136,551 | ||||||
| Machinery – Diversified — 2.9% | ||||||||
| Cactus, Inc. Class A | 55,317 | 2,341,016 | ||||||
| DXP Enterprises, Inc. (a) | 8,223 | 299,399 | ||||||
| Esab Corp. | 2,987 | 198,755 | ||||||
| Gates Industrial Corp. PLC (a) | 72,363 | 975,453 | ||||||
| Ichor Holdings Ltd. (a) | 57,934 | 2,172,525 | ||||||
| 5,987,148 | ||||||||
| Metal Fabricate & Hardware — 1.9% | ||||||||
| Hillman Solutions Corp. (a) | 263,342 | 2,372,712 | ||||||
| Timken Co. | 17,142 | 1,569,007 | ||||||
| 3,941,719 | ||||||||
| Miscellaneous - Manufacturing — 0.0% | ||||||||
| DIRTT Environmental Solutions (a) (b) | 61,401 | 16,038 | ||||||
| Packaging & Containers — 1.0% | ||||||||
| Graphic Packaging Holding Co. | 62,479 | 1,501,370 | ||||||
| Karat Packaging, Inc. | 5,242 | 95,667 | ||||||
| Pactiv Evergreen, Inc. | 54,592 | 413,261 | ||||||
| 2,010,298 | ||||||||
| Transportation — 1.5% | ||||||||
| ArcBest Corp. | 23,390 | 2,310,932 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Star Bulk Carriers Corp. | 50,616 | $ | 895,903 | |||||
| 3,206,835 | ||||||||
| 36,419,439 | ||||||||
| Technology — 7.9% | ||||||||
| Computers — 0.8% | ||||||||
| Crane NXT Co. | 19,460 | 1,098,322 | ||||||
| Unisys Corp. (a) | 146,112 | 581,526 | ||||||
| 1,679,848 | ||||||||
| Semiconductors — 4.8% | ||||||||
| Amkor Technology, Inc. | 58,478 | 1,739,721 | ||||||
| Cohu, Inc. (a) | 48,315 | 2,007,971 | ||||||
| FormFactor, Inc. (a) | 46,163 | 1,579,698 | ||||||
| Kulicke & Soffa Industries, Inc. | 44,458 | 2,643,028 | ||||||
| Magnachip Semiconductor Corp. (a) | 143,340 | 1,602,541 | ||||||
| MKS Instruments, Inc. | 3,818 | 412,726 | ||||||
| 9,985,685 | ||||||||
| Software — 2.3% | ||||||||
| ACI Worldwide, Inc. (a) | 59,970 | 1,389,505 | ||||||
| CommVault Systems, Inc. (a) | 18,237 | 1,324,371 | ||||||
| Digital Turbine, Inc. (a) | 24,742 | 229,606 | ||||||
| Donnelley Financial Solutions, Inc. (a) | 9,930 | 452,113 | ||||||
| IBEX Holdings Ltd. (a) | 10,258 | 217,777 | ||||||
| Teradata Corp. (a) | 21,936 | 1,171,602 | ||||||
| 4,784,974 | ||||||||
| 16,450,507 | ||||||||
| Utilities — 2.5% | ||||||||
| Electric — 2.1% | ||||||||
| ALLETE, Inc. | 4,293 | 248,865 | ||||||
| IDACORP, Inc. | 20,770 | 2,131,002 | ||||||
| Portland General Electric Co. | 44,140 | 2,067,076 | ||||||
| 4,446,943 | ||||||||
| Gas — 0.4% | ||||||||
| Northwest Natural Holding Co. | 2,780 | 119,679 | ||||||
| Southwest Gas Holdings, Inc. | 9,740 | 619,951 | ||||||
| 739,630 | ||||||||
| 5,186,573 | ||||||||
| TOTAL COMMON STOCK (Cost $217,898,551) | 207,012,242 | |||||||
| TOTAL EQUITIES (Cost $217,898,551) | 207,012,242 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $217,898,551) | 207,012,242 | |||||||
| SHORT-TERM INVESTMENTS — 1.8% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 2,424,090 | 2,424,090 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.6% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 1,292,037 | 1,292,037 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,716,127) | 3,716,127 | |||||||
| TOTAL INVESTMENTS — 100.7% (Cost $221,614,678) (e) | 210,728,369 | |||||||
| Other Assets/(Liabilities) — (0.7)% | (1,372,311) | |||||||
| NET ASSETS — 100.0% | $ | 209,356,058 | ||||||
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 June 30, 2023, was $3,911,875 or 1.87% of net assets. The Fund received $1,643,244 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 $1,292,200. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/2025, and an aggregate market value, including accrued interest, of $1,318,014. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| UBS AG | 9/29/23 | USD | 317,582 | SEK | 3,390,878 | $ | 1,890 | |||||||||
Currency Legend
| SEK | Swedish Krona |
| USD | U.S. Dollar |
| MassMutual Mid Cap Growth Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.4% | ||||||||
| COMMON STOCK — 97.1% | ||||||||
| Basic Materials — 1.3% | ||||||||
| Chemicals — 0.9% | ||||||||
| Albemarle Corp. | 70,344 | $ | 15,693,043 | |||||
| RPM International, Inc. | 266,000 | 23,868,180 | ||||||
| Sherwin-Williams Co. | 37,051 | 9,837,781 | ||||||
| 49,399,004 | ||||||||
| Iron & Steel — 0.4% | ||||||||
| ATI, Inc. (a) | 463,120 | 20,483,798 | ||||||
| 69,882,802 | ||||||||
| Communications — 4.9% | ||||||||
| Advertising — 1.8% | ||||||||
| Trade Desk, Inc. Class A (a) | 1,263,906 | 97,598,821 | ||||||
| Internet — 1.7% | ||||||||
| Chewy, Inc. Class A (a) | 170,673 | 6,736,463 | ||||||
| Match Group, Inc. (a) | 178,000 | 7,449,300 | ||||||
| Okta, Inc. (a) | 79,711 | 5,527,958 | ||||||
| Palo Alto Networks, Inc. (a) | 137,565 | 35,149,233 | ||||||
| Spotify Technology SA (a) | 212,000 | 34,036,600 | ||||||
| 88,899,554 | ||||||||
| Media — 1.0% | ||||||||
| Liberty Media Corp-Liberty Formula One Class C (a) | 512,000 | 38,543,360 | ||||||
| Warner Bros Discovery, Inc. (a) | 1,295,183 | 16,241,595 | ||||||
| 54,784,955 | ||||||||
| Telecommunications — 0.4% | ||||||||
| Arista Networks, Inc. (a) | 75,974 | 12,312,347 | ||||||
| Corning, Inc. | 286,000 | 10,021,440 | ||||||
| 22,333,787 | ||||||||
| 263,617,117 | ||||||||
| Consumer, Cyclical — 13.9% | ||||||||
| Airlines — 0.8% | ||||||||
| Southwest Airlines Co. | 1,203,000 | 43,560,630 | ||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Mobileye Global, Inc. Class A (a) (b) | 74,000 | 2,843,080 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Entertainment — 0.6% | ||||||||
| Caesars Entertainment, Inc. (a) | 398,621 | $ | 20,317,712 | |||||
| Live Nation Entertainment, Inc. (a) | 129,493 | 11,798,107 | ||||||
| Vail Resorts, Inc. | 8,000 | 2,014,080 | ||||||
| 34,129,899 | ||||||||
| Leisure Time — 0.2% | ||||||||
| Planet Fitness, Inc. Class A (a) | 138,665 | 9,351,568 | ||||||
| Lodging — 2.5% | ||||||||
| Boyd Gaming Corp. | 209,380 | 14,524,691 | ||||||
| Hilton Worldwide Holdings, Inc. | 416,000 | 60,548,800 | ||||||
| MGM Resorts International | 1,315,609 | 57,781,547 | ||||||
| 132,855,038 | ||||||||
| Retail — 9.2% | ||||||||
| Bath & Body Works, Inc. | 801,000 | 30,037,500 | ||||||
| Beacon Roofing Supply, Inc. (a) | 167,803 | 13,924,293 | ||||||
| Burlington Stores, Inc. (a) | 411,392 | 64,748,987 | ||||||
| Casey's General Stores, Inc. | 152,000 | 37,069,760 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 14,960 | 31,999,440 | ||||||
| Dollar General Corp. | 128,264 | 21,776,662 | ||||||
| Dollar Tree, Inc. (a) | 359,000 | 51,516,500 | ||||||
| Domino's Pizza, Inc. | 178,911 | 60,291,218 | ||||||
| Five Below, Inc. (a) | 164,000 | 32,232,560 | ||||||
| Floor & Decor Holdings, Inc. Class A (a) | 21,010 | 2,184,199 | ||||||
| Lithia Motors, Inc. | 46,352 | 14,096,107 | ||||||
| Lululemon Athletica, Inc. (a) | 35,000 | 13,247,500 | ||||||
| O'Reilly Automotive, Inc. (a) | 26,217 | 25,045,100 | ||||||
| Ross Stores, Inc. | 379,638 | 42,568,809 | ||||||
| Tractor Supply Co. | 109,612 | 24,235,213 | ||||||
| Yum! Brands, Inc. | 232,000 | 32,143,600 | ||||||
| 497,117,448 | ||||||||
| Toys, Games & Hobbies — 0.5% | ||||||||
| Mattel, Inc. (a) | 1,425,176 | 27,847,939 | ||||||
| 747,705,602 | ||||||||
| Consumer, Non-cyclical — 30.1% | ||||||||
| Beverages — 0.3% | ||||||||
| Boston Beer Co., Inc. Class A (a) (b) | 42,000 | 12,954,480 | ||||||
| Biotechnology — 3.2% | ||||||||
| Alnylam Pharmaceuticals, Inc. (a) | 221,000 | 41,976,740 | ||||||
| Apellis Pharmaceuticals, Inc. (a) | 169,000 | 15,395,900 | ||||||
| Argenx SE ADR (a) | 48,000 | 18,707,040 | ||||||
| Biogen, Inc. (a) | 89,000 | 25,351,650 | ||||||
| BioMarin Pharmaceutical, Inc. (a) | 73,972 | 6,411,893 | ||||||
| CRISPR Therapeutics AG (a) (b) | 169,000 | 9,487,660 | ||||||
| Illumina, Inc. (a) | 33,330 | 6,249,042 | ||||||
| Ionis Pharmaceuticals, Inc. (a) | 635,000 | 26,054,050 | ||||||
| Karuna Therapeutics, Inc. (a) | 67,000 | 14,528,950 | ||||||
| Seagen, Inc. (a) | 37,000 | 7,121,020 | ||||||
| 171,283,945 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Commercial Services — 8.5% | ||||||||
| Block, Inc. (a) | 84,964 | $ | 5,656,053 | |||||
| Bright Horizons Family Solutions, Inc. (a) | 365,079 | 33,751,554 | ||||||
| Cintas Corp. | 38,706 | 19,239,978 | ||||||
| CoStar Group, Inc. (a) | 506,000 | 45,034,000 | ||||||
| Equifax, Inc. | 306,292 | 72,070,508 | ||||||
| FleetCor Technologies, Inc. (a) | 249,000 | 62,518,920 | ||||||
| Global Payments, Inc. | 54,717 | 5,390,719 | ||||||
| MarketAxess Holdings, Inc. | 91,000 | 23,789,220 | ||||||
| Moody's Corp. | 25,585 | 8,896,416 | ||||||
| Paylocity Holding Corp. (a) | 167,000 | 30,816,510 | ||||||
| Quanta Services, Inc. | 115,388 | 22,667,973 | ||||||
| TransUnion | 789,858 | 61,869,577 | ||||||
| United Rentals, Inc. | 74,000 | 32,957,380 | ||||||
| Verisk Analytics, Inc. | 150,000 | 33,904,500 | ||||||
| 458,563,308 | ||||||||
| Cosmetics & Personal Care — 0.2% | ||||||||
| Kenvue, Inc. (a) | 482,210 | 12,739,988 | ||||||
| Food — 0.3% | ||||||||
| TreeHouse Foods, Inc. (a) | 362,000 | 18,237,560 | ||||||
| Health Care – Products — 13.0% | ||||||||
| Alcon, Inc. | 592,789 | 48,673,905 | ||||||
| Align Technology, Inc. (a) | 36,592 | 12,940,395 | ||||||
| Avantor, Inc. (a) | 2,334,000 | 47,940,360 | ||||||
| Bruker Corp. | 781,747 | 57,786,738 | ||||||
| Dentsply Sirona, Inc. | 323,000 | 12,926,460 | ||||||
| Edwards Lifesciences Corp. (a) | 95,738 | 9,030,966 | ||||||
| Enovis Corp. (a) | 426,000 | 27,315,120 | ||||||
| Exact Sciences Corp. (a) | 299,933 | 28,163,709 | ||||||
| Hologic, Inc. (a) | 1,699,648 | 137,620,499 | ||||||
| ICU Medical, Inc. (a) | 115,000 | 20,491,850 | ||||||
| IDEXX Laboratories, Inc. (a) | 41,280 | 20,732,054 | ||||||
| Inspire Medical Systems, Inc. (a) | 55,399 | 17,984,731 | ||||||
| Insulet Corp. (a) | 41,796 | 12,051,459 | ||||||
| Natera, Inc. (a) | 169,202 | 8,233,369 | ||||||
| Novocure Ltd. (a) | 122,000 | 5,063,000 | ||||||
| Quidelortho Corp. (a) | 269,000 | 22,289,340 | ||||||
| ResMed, Inc. | 48,983 | 10,702,785 | ||||||
| Steris PLC | 56,702 | 12,756,816 | ||||||
| Teleflex, Inc. | 391,244 | 94,692,785 | ||||||
| The Cooper Cos., Inc. | 131,000 | 50,229,330 | ||||||
| West Pharmaceutical Services, Inc. | 107,000 | 40,924,290 | ||||||
| 698,549,961 | ||||||||
| Health Care – Services — 2.7% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 546,000 | 43,483,440 | ||||||
| agilon health, Inc. (a) (b) | 982,509 | 17,036,706 | ||||||
| Catalent, Inc. (a) | 770,977 | 33,429,563 | ||||||
| Humana, Inc. | 17,073 | 7,633,850 | ||||||
| IQVIA Holdings, Inc. (a) | 54,226 | 12,188,378 | ||||||
| Molina Healthcare, Inc. (a) | 101,000 | 30,425,240 | ||||||
| 144,197,177 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Household Products & Wares — 1.2% | ||||||||
| Avery Dennison Corp. | 273,000 | $ | 46,901,400 | |||||
| Reynolds Consumer Products, Inc. | 554,000 | 15,650,500 | ||||||
| 62,551,900 | ||||||||
| Pharmaceuticals — 0.7% | ||||||||
| Ascendis Pharma AS ADR (a) | 157,000 | 14,012,250 | ||||||
| Dexcom, Inc. (a) | 170,096 | 21,859,037 | ||||||
| 35,871,287 | ||||||||
| 1,614,949,606 | ||||||||
| Energy — 4.1% | ||||||||
| Energy – Alternate Sources — 0.8% | ||||||||
| Array Technologies, Inc. (a) | 716,249 | 16,187,227 | ||||||
| Shoals Technologies Group, Inc. Class A (a) | 596,054 | 15,235,140 | ||||||
| SolarEdge Technologies, Inc. (a) | 32,095 | 8,635,160 | ||||||
| 40,057,527 | ||||||||
| Oil & Gas — 2.8% | ||||||||
| Coterra Energy, Inc. | 1,412,559 | 35,737,743 | ||||||
| Devon Energy Corp. | 157,000 | 7,589,380 | ||||||
| EQT Corp. | 449,000 | 18,467,370 | ||||||
| Permian Resources Corp. | 1,059,186 | 11,608,679 | ||||||
| Pioneer Natural Resources Co. | 164,000 | 33,977,520 | ||||||
| SM Energy Co. | 492,710 | 15,584,417 | ||||||
| Venture Global LNG, Inc., Series B (Acquired 3/08/18, Cost $652,320) (a) (c) (d) (e) | 216 | 3,888,000 | ||||||
| Venture Global LNG, Inc., Series C (Acquired 10/16/17-3/08/18, Cost $4,872,708) (a) (c) (d) (e) | 1,328 | 23,904,000 | ||||||
| 150,757,109 | ||||||||
| Pipelines — 0.5% | ||||||||
| Cheniere Energy, Inc. | 177,000 | 26,967,720 | ||||||
| 217,782,356 | ||||||||
| Financial — 5.3% | ||||||||
| Diversified Financial Services — 2.3% | ||||||||
| Apollo Global Management, Inc. | 238,359 | 18,308,355 | ||||||
| Cboe Global Markets, Inc. | 34,000 | 4,692,340 | ||||||
| Intercontinental Exchange, Inc. | 370,000 | 41,839,600 | ||||||
| Raymond James Financial, Inc. | 243,000 | 25,216,110 | ||||||
| Tradeweb Markets, Inc. Class A | 542,000 | 37,116,160 | ||||||
| 127,172,565 | ||||||||
| Insurance — 1.8% | ||||||||
| Aon PLC Class A | 88,862 | 30,675,162 | ||||||
| Assurant, Inc. | 294,000 | 36,961,680 | ||||||
| Axis Capital Holdings Ltd. | 279,000 | 15,018,570 | ||||||
| Kemper Corp. | 142,000 | 6,852,920 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Markel Group, Inc. (a) | 4,000 | $ | 5,532,720 | |||||
| 95,041,052 | ||||||||
| Private Equity — 1.2% | ||||||||
| KKR & Co., Inc. | 1,135,170 | 63,569,520 | ||||||
| 285,783,137 | ||||||||
| Industrial — 16.9% | ||||||||
| Building Materials — 1.7% | ||||||||
| Builders FirstSource, Inc. (a) | 138,262 | 18,803,632 | ||||||
| Eagle Materials, Inc. | 97,397 | 18,156,749 | ||||||
| Martin Marietta Materials, Inc. | 120,000 | 55,402,800 | ||||||
| 92,363,181 | ||||||||
| Electrical Components & Equipment — 0.5% | ||||||||
| Littelfuse, Inc. | 30,000 | 8,739,300 | ||||||
| Universal Display Corp. | 113,598 | 16,372,880 | ||||||
| 25,112,180 | ||||||||
| Electronics — 4.9% | ||||||||
| Agilent Technologies, Inc. | 776,043 | 93,319,171 | ||||||
| Amphenol Corp. Class A | 480,356 | 40,806,242 | ||||||
| Coherent Corp. (a) (b) | 132,230 | 6,741,085 | ||||||
| Fortive Corp. | 809,000 | 60,488,930 | ||||||
| Keysight Technologies, Inc. (a) | 354,000 | 59,277,300 | ||||||
| 260,632,728 | ||||||||
| Engineering & Construction — 0.3% | ||||||||
| MasTec, Inc. (a) | 156,275 | 18,435,762 | ||||||
| Environmental Controls — 0.6% | ||||||||
| Waste Connections, Inc. | 215,463 | 30,796,126 | ||||||
| Hand & Machine Tools — 0.2% | ||||||||
| Stanley Black & Decker, Inc. | 140,825 | 13,196,711 | ||||||
| Machinery – Construction & Mining — 0.4% | ||||||||
| BWX Technologies, Inc. | 334,540 | 23,943,028 | ||||||
| Machinery – Diversified — 3.0% | ||||||||
| Cognex Corp. | 349,000 | 19,550,980 | ||||||
| Esab Corp. | 420,000 | 27,946,800 | ||||||
| IDEX Corp. | 125,000 | 26,907,500 | ||||||
| Ingersoll Rand, Inc. | 1,296,000 | 84,706,560 | ||||||
| 159,111,840 | ||||||||
| Miscellaneous - Manufacturing — 1.4% | ||||||||
| Textron, Inc. | 1,107,000 | 74,866,410 | ||||||
| Packaging & Containers — 1.8% | ||||||||
| Ball Corp. | 1,167,000 | 67,931,070 | ||||||
| Sealed Air Corp. | 728,000 | 29,120,000 | ||||||
| 97,051,070 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Transportation — 2.1% | ||||||||
| JB Hunt Transport Services, Inc. | 355,000 | $ | 64,265,650 | |||||
| Knight-Swift Transportation Holdings, Inc. | 312,505 | 17,362,778 | ||||||
| XPO, Inc. (a) | 491,324 | 28,988,116 | ||||||
| 110,616,544 | ||||||||
| 906,125,580 | ||||||||
| Technology — 20.6% | ||||||||
| Computers — 2.4% | ||||||||
| Crowdstrike Holdings, Inc. Class A (a) | 336,000 | 49,348,320 | ||||||
| EPAM Systems, Inc. (a) | 39,191 | 8,808,177 | ||||||
| Fortinet, Inc. (a) | 546,000 | 41,272,140 | ||||||
| KBR, Inc. | 473,361 | 30,796,867 | ||||||
| 130,225,504 | ||||||||
| Semiconductors — 8.1% | ||||||||
| KLA Corp. | 119,412 | 57,917,208 | ||||||
| Lam Research Corp. | 33,618 | 21,611,668 | ||||||
| Lattice Semiconductor Corp. (a) | 282,000 | 27,091,740 | ||||||
| Marvell Technology, Inc. | 2,079,482 | 124,311,434 | ||||||
| Microchip Technology, Inc. | 1,713,658 | 153,526,620 | ||||||
| Monolithic Power Systems, Inc. | 42,441 | 22,927,901 | ||||||
| NXP Semiconductor NV | 63,000 | 12,894,840 | ||||||
| Wolfspeed, Inc. (a) (b) | 240,747 | 13,383,126 | ||||||
| 433,664,537 | ||||||||
| Software — 10.1% | ||||||||
| Atlassian Corp. Class A Class A (a) | 89,000 | 14,935,090 | ||||||
| Bill Holdings, Inc. (a) (b) | 309,267 | 36,137,849 | ||||||
| Black Knight, Inc. (a) | 553,000 | 33,030,690 | ||||||
| Broadridge Financial Solutions, Inc. | 205,000 | 33,954,150 | ||||||
| CCC Intelligent Solutions Holdings, Inc. (a) | 2,125,172 | 23,823,178 | ||||||
| Clear Secure, Inc. Class A (b) | 241,000 | 5,583,970 | ||||||
| Confluent, Inc. Class A (a) (b) | 148,000 | 5,225,880 | ||||||
| Doximity, Inc. Class A (a) (b) | 284,000 | 9,661,680 | ||||||
| Fair Isaac Corp. (a) | 76,293 | 61,737,059 | ||||||
| Guidewire Software, Inc. (a) | 123,066 | 9,362,861 | ||||||
| HashiCorp, Inc. Class A (a) | 75,000 | 1,963,500 | ||||||
| HubSpot, Inc. (a) | 43,382 | 23,083,128 | ||||||
| MongoDB, Inc. (a) | 82,555 | 33,929,279 | ||||||
| MSCI, Inc. | 33,517 | 15,729,191 | ||||||
| Palantir Technologies, Inc. Class A (a) | 668,953 | 10,255,050 | ||||||
| Paycom Software, Inc. | 20,168 | 6,478,768 | ||||||
| PTC, Inc. (a) | 288,000 | 40,982,400 | ||||||
| Roper Technologies, Inc. | 82,000 | 39,425,600 | ||||||
| Synopsys, Inc. (a) | 75,000 | 32,655,750 | ||||||
| Twilio, Inc. Class A (a) | 124,064 | 7,892,952 | ||||||
| Veeva Systems, Inc. Class A (a) | 443,595 | 87,712,039 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Workday, Inc. Class A (a) | 36,986 | $ | 8,354,768 | |||||
| 541,914,832 | ||||||||
| 1,105,804,873 | ||||||||
| TOTAL COMMON STOCK (Cost $4,187,648,812) | 5,211,651,073 | |||||||
| PREFERRED STOCK — 0.3% | ||||||||
| Consumer, Cyclical — 0.0% | ||||||||
| Auto Manufacturers — 0.0% | ||||||||
| Nuro, Inc., Series D (Acquired 10/29/21, Cost $3,125,295) (a) (c) (d) (e) | 149,925 | 929,535 | ||||||
| Consumer, Non-cyclical — 0.1% | ||||||||
| Commercial Services — 0.1% | ||||||||
| Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $3,678,889) (a) (c) (d) (e) | 77,608 | 3,704,685 | ||||||
| Health Care – Services — 0.0% | ||||||||
| Caris Life Sciences, Inc., Series D (Acquired 5/11/21, Cost $5,006,003) (a) (c) (d) (e) | 618,025 | 3,306,434 | ||||||
| 7,011,119 | ||||||||
| Financial — 0.0% | ||||||||
| Investment Companies — 0.0% | ||||||||
| Maplebear, Inc., Series E (Acquired 11/19/21-12/01/21, Cost $10,196,717) (a) (c) (d) (e) | 84,807 | 2,756,228 | ||||||
| Maplebear, Inc., Series I (Acquired 2/26/21, Cost $1,765,375) (a) (c) (d) (e) | 14,123 | 458,998 | ||||||
| 3,215,226 | ||||||||
| Industrial — 0.1% | ||||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $7,310,569) (a) (c) (d) (e) | 177,128 | 3,592,156 | ||||||
| Technology — 0.1% | ||||||||
| Software — 0.1% | ||||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $3,472,860) (a) (c) (d) (e) | 47,260 | 3,457,542 | ||||||
| TOTAL PREFERRED STOCK (Cost $34,555,708) | 18,205,578 | |||||||
| TOTAL EQUITIES (Cost $4,222,204,520) | 5,229,856,651 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $4,222,204,520) | 5,229,856,651 | |||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 2.8% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (f) | 5,449,385 | $ | 5,449,385 | |||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Treasury Reserve Fund | 66,892 | 66,892 | ||||||
| Repurchase Agreement — 2.7% | Principal Amount | |||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (g) | $ | 144,670,496 | 144,670,496 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $150,186,773) | 150,186,773 | |||||||
| TOTAL INVESTMENTS — 100.2% (Cost $4,372,391,293) (h) | 5,380,043,424 | |||||||
| Other Assets/(Liabilities) — (0.2)% | (9,415,516) | |||||||
| NET ASSETS — 100.0% | $ | 5,370,627,908 | ||||||
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 June 30, 2023, was $61,722,667 or 1.15% of net assets. The Fund received $57,709,221 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) | Investment is valued using significant unobservable inputs. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $45,997,578 or 0.86% of net assets. |
| (e) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $45,997,578 or 0.86% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (f) | Represents investment of security lending cash collateral. (Note 2). |
| (g) | Maturity value of $144,688,821. Collateralized by U.S. Government Agency obligations with rates ranging from 0.250% - 4.250%, maturity dates ranging from 10/15/25 – 5/15/29, and an aggregate market value, including accrued interest, of $147,563,965. |
| (h) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.2% | ||||||||
| COMMON STOCK — 97.2% | ||||||||
| Basic Materials — 3.1% | ||||||||
| Chemicals — 2.4% | ||||||||
| Cabot Corp. | 101,749 | $ | 6,805,991 | |||||
| Livent Corp. (a) (b) | 352,963 | 9,681,775 | ||||||
| Methanex Corp. (b) | 54,120 | 2,238,944 | ||||||
| 18,726,710 | ||||||||
| Iron & Steel — 0.7% | ||||||||
| ATI, Inc. (a) | 91,294 | 4,037,934 | ||||||
| Commercial Metals Co. | 33,413 | 1,759,528 | ||||||
| 5,797,462 | ||||||||
| 24,524,172 | ||||||||
| Communications — 3.8% | ||||||||
| Internet — 2.0% | ||||||||
| Cargurus, Inc. (a) | 135,721 | 3,071,366 | ||||||
| Criteo SA Sponsored ADR (a) | 74,059 | 2,498,751 | ||||||
| Eventbrite, Inc. Class A (a) | 281,703 | 2,690,264 | ||||||
| Perficient, Inc. (a) | 45,122 | 3,760,016 | ||||||
| Squarespace, Inc. Class A (a) | 34,500 | 1,088,130 | ||||||
| Ziff Davis, Inc. (a) | 35,838 | 2,510,810 | ||||||
| 15,619,337 | ||||||||
| Media — 0.9% | ||||||||
| New York Times Co. Class A | 67,264 | 2,648,856 | ||||||
| World Wrestling Entertainment, Inc. Class A | 37,750 | 4,094,743 | ||||||
| 6,743,599 | ||||||||
| Telecommunications — 0.9% | ||||||||
| Calix, Inc. (a) | 101,513 | 5,066,514 | ||||||
| Viavi Solutions, Inc. (a) | 198,915 | 2,253,707 | ||||||
| 7,320,221 | ||||||||
| 29,683,157 | ||||||||
| Consumer, Cyclical — 12.1% | ||||||||
| Apparel — 1.8% | ||||||||
| Carter's, Inc. (b) | 24,426 | 1,773,327 | ||||||
| Crocs, Inc. (a) | 61,850 | 6,954,414 | ||||||
| Deckers Outdoor Corp. (a) | 2,530 | 1,334,980 | ||||||
| On Holding AG, Class A (a) (b) | 56,881 | 1,877,073 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Steven Madden Ltd. (b) | 62,952 | $ | 2,057,901 | |||||
| 13,997,695 | ||||||||
| Auto Parts & Equipment — 0.9% | ||||||||
| Visteon Corp. (a) | 46,752 | 6,714,055 | ||||||
| Distribution & Wholesale — 1.5% | ||||||||
| H&E Equipment Services, Inc. | 86,802 | 3,971,191 | ||||||
| Rush Enterprises, Inc. Class A | 87,823 | 5,334,369 | ||||||
| WESCO International, Inc. | 13,431 | 2,404,955 | ||||||
| 11,710,515 | ||||||||
| Entertainment — 1.1% | ||||||||
| Cinemark Holdings, Inc. (a) (b) | 117,846 | 1,944,459 | ||||||
| DraftKings, Inc. Class A (a) | 61,628 | 1,637,456 | ||||||
| Red Rock Resorts, Inc. Class A | 110,058 | 5,148,513 | ||||||
| 8,730,428 | ||||||||
| Food Services — 0.3% | ||||||||
| Sovos Brands, Inc. (a) | 115,067 | 2,250,711 | ||||||
| Home Builders — 1.9% | ||||||||
| Century Communities, Inc. | 43,977 | 3,369,518 | ||||||
| Meritage Home Corp. | 8,349 | 1,187,812 | ||||||
| Skyline Champion Corp. (a) | 85,819 | 5,616,854 | ||||||
| Taylor Morrison Home Corp. (a) | 91,833 | 4,478,695 | ||||||
| 14,652,879 | ||||||||
| Leisure Time — 1.0% | ||||||||
| Acushnet Holdings Corp. | 39,571 | 2,163,742 | ||||||
| Planet Fitness, Inc. Class A (a) | 30,105 | 2,030,281 | ||||||
| YETI Holdings, Inc. (a) | 105,082 | 4,081,385 | ||||||
| 8,275,408 | ||||||||
| Lodging — 0.4% | ||||||||
| Boyd Gaming Corp. | 49,614 | 3,441,723 | ||||||
| Retail — 3.2% | ||||||||
| Cava Group, Inc. (a) | 28,908 | 1,183,783 | ||||||
| Denny's Corp. (a) | 116,931 | 1,440,590 | ||||||
| Freshpet, Inc. (a) | 16,400 | 1,079,284 | ||||||
| Nu Skin Enterprises, Inc. Class A | 17,969 | 596,571 | ||||||
| Patrick Industries, Inc. (b) | 29,983 | 2,398,640 | ||||||
| Savers Value Village, Inc. (a) | 30,100 | 713,370 | ||||||
| Shake Shack, Inc. Class A (a) | 23,732 | 1,844,451 | ||||||
| Texas Roadhouse, Inc. | 22,105 | 2,481,949 | ||||||
| Victoria's Secret & Co. (a) (b) | 62,935 | 1,096,957 | ||||||
| Wingstop, Inc. | 63,542 | 12,718,567 | ||||||
| 25,554,162 | ||||||||
| 95,327,576 | ||||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Consumer, Non-cyclical — 25.5% | ||||||||
| Beverages — 1.3% | ||||||||
| Celsius Holdings, Inc. (a) | 69,418 | $ | 10,356,471 | |||||
| Biotechnology — 6.2% | ||||||||
| Akero Therapeutics, Inc. (a) | 36,759 | 1,716,278 | ||||||
| Amicus Therapeutics, Inc. (a) | 173,139 | 2,174,626 | ||||||
| Apellis Pharmaceuticals, Inc. (a) | 57,558 | 5,243,534 | ||||||
| Blueprint Medicines Corp. (a) | 21,104 | 1,333,773 | ||||||
| Celldex Therapeutics, Inc. (a) | 25,693 | 871,764 | ||||||
| Crinetics Pharmaceuticals, Inc. (a) | 100,884 | 1,817,930 | ||||||
| Cytokinetics, Inc. (a) | 113,306 | 3,696,042 | ||||||
| Halozyme Therapeutics, Inc. (a) | 34,475 | 1,243,513 | ||||||
| Immatics NV (a) | 180,237 | 2,079,935 | ||||||
| Immunocore Holdings PLC ADR ADR (a) | 21,035 | 1,261,259 | ||||||
| ImmunoGen, Inc. (a) | 49,635 | 936,612 | ||||||
| Intellia Therapeutics, Inc. (a) | 31,410 | 1,280,900 | ||||||
| Intra-Cellular Therapies, Inc. (a) | 86,779 | 5,494,846 | ||||||
| Karuna Therapeutics, Inc. (a) | 19,577 | 4,245,272 | ||||||
| Kymera Therapeutics, Inc. (a) | 53,516 | 1,230,333 | ||||||
| Myriad Genetics, Inc. (a) | 89,691 | 2,079,037 | ||||||
| Prothena Corp. PLC (a) | 21,294 | 1,453,954 | ||||||
| PTC Therapeutics, Inc. (a) | 29,684 | 1,207,248 | ||||||
| Revolution Medicines, Inc. (a) | 74,396 | 1,990,093 | ||||||
| Rocket Pharmaceuticals, Inc. (a) | 95,322 | 1,894,048 | ||||||
| Sage Therapeutics, Inc. (a) | 14,384 | 676,336 | ||||||
| Syndax Pharmaceuticals, Inc. (a) | 83,801 | 1,753,955 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 15,691 | 723,826 | ||||||
| Veracyte, Inc. (a) | 67,488 | 1,718,919 | ||||||
| Zentalis Pharmaceuticals, Inc. (a) (b) | 23,925 | 674,924 | ||||||
| 48,798,957 | ||||||||
| Commercial Services — 3.0% | ||||||||
| Cross Country Healthcare, Inc. (a) | 106,039 | 2,977,575 | ||||||
| European Wax Center, Inc. Class A (a) | 86,678 | 1,614,811 | ||||||
| Flywire Corp. (a) | 49,565 | 1,538,498 | ||||||
| H&R Block, Inc. | 63,019 | 2,008,416 | ||||||
| Herc Holdings, Inc. | 14,618 | 2,000,473 | ||||||
| ManpowerGroup, Inc. | 23,304 | 1,850,338 | ||||||
| Progyny, Inc. (a) | 20,154 | 792,858 | ||||||
| Shift4 Payments, Inc. Class A (a) (b) | 22,907 | 1,555,614 | ||||||
| TriNet Group, Inc. (a) | 52,002 | 4,938,630 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 85,846 | 4,102,580 | ||||||
| 23,379,793 | ||||||||
| Cosmetics & Personal Care — 1.6% | ||||||||
| elf Beauty, Inc. (a) | 107,759 | 12,309,311 | ||||||
| Food — 0.5% | ||||||||
| Performance Food Group Co. (a) | 21,769 | 1,311,365 | ||||||
| TreeHouse Foods, Inc. (a) | 50,706 | 2,554,568 | ||||||
| 3,865,933 | ||||||||
| Health Care – Products — 8.1% | ||||||||
| 10X Genomics, Inc. Class A (a) | 43,765 | 2,443,838 | ||||||
| Axonics Inc. (a) | 64,009 | 3,230,534 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Glaukos Corp. (a) | 90,739 | $ | 6,461,524 | |||||
| Globus Medical, Inc. Class A (a) | 31,342 | 1,866,103 | ||||||
| Haemonetics Corp. (a) | 93,799 | 7,986,047 | ||||||
| ICU Medical, Inc. (a) | 10,947 | 1,950,646 | ||||||
| Inari Medical, Inc. (a) | 70,147 | 4,078,347 | ||||||
| Inspire Medical Systems, Inc. (a) | 44,897 | 14,575,362 | ||||||
| iRhythm Technologies, Inc. (a) | 12,783 | 1,333,522 | ||||||
| Lantheus Holdings, Inc. (a) | 28,480 | 2,390,042 | ||||||
| Merit Medical Systems, Inc. (a) | 28,936 | 2,420,207 | ||||||
| Omnicell, Inc. (a) | 30,263 | 2,229,475 | ||||||
| Repligen Corp. (a) | 4,113 | 581,825 | ||||||
| Shockwave Medical, Inc. (a) | 35,242 | 10,058,419 | ||||||
| TransMedics Group, Inc. (a) | 22,592 | 1,897,276 | ||||||
| 63,503,167 | ||||||||
| Health Care – Services — 3.6% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 117,425 | 9,351,727 | ||||||
| Amedisys, Inc. (a) | 19,013 | 1,738,549 | ||||||
| Encompass Health Corp. | 42,270 | 2,862,102 | ||||||
| HealthEquity, Inc. (a) | 32,860 | 2,074,780 | ||||||
| Medpace Holdings, Inc. (a) | 14,994 | 3,601,109 | ||||||
| Radnet, Inc. (a) | 50,314 | 1,641,243 | ||||||
| Surgery Partners, Inc. (a) (b) | 159,756 | 7,187,422 | ||||||
| 28,456,932 | ||||||||
| Pharmaceuticals — 1.2% | ||||||||
| Aclaris Therapeutics, Inc. (a) | 129,426 | 1,342,148 | ||||||
| Ascendis Pharma AS ADR (a) | 5,609 | 500,603 | ||||||
| BellRing Brands, Inc. (a) | 57,209 | 2,093,850 | ||||||
| Bioxcel Therapeutics, Inc. (a) (b) | 23,680 | 157,709 | ||||||
| Merus NV (a) (b) | 38,254 | 1,007,228 | ||||||
| Morphic Holding, Inc. (a) | 8,046 | 461,277 | ||||||
| Revance Therapeutics, Inc. (a) | 53,281 | 1,348,542 | ||||||
| Vaxcyte, Inc. (a) | 25,894 | 1,293,146 | ||||||
| Verona Pharma PLC ADR ADR (a) | 63,580 | 1,344,081 | ||||||
| 9,548,584 | ||||||||
| 200,219,148 | ||||||||
| Energy — 5.5% | ||||||||
| Energy – Alternate Sources — 1.2% | ||||||||
| Maxeon Solar Technologies Ltd. (a) | 43,693 | 1,230,395 | ||||||
| Shoals Technologies Group, Inc. Class A (a) | 330,002 | 8,434,851 | ||||||
| 9,665,246 | ||||||||
| Oil & Gas — 3.7% | ||||||||
| Chord Energy Corp. | 39,204 | 6,029,575 | ||||||
| Magnolia Oil & Gas Corp. Class A | 107,856 | 2,254,190 | ||||||
| Matador Resources Co. | 78,782 | 4,121,874 | ||||||
| PBF Energy, Inc. Class A | 37,859 | 1,549,948 | ||||||
| PDC Energy, Inc. | 22,511 | 1,601,433 | ||||||
| Seadrill Ltd. (a) | 47,530 | 1,961,563 | ||||||
| Sitio Royalties Corp. Class A | 91,212 | 2,396,139 | ||||||
| Viper Energy Partners LP (c) | 222,224 | 5,962,270 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Weatherford International PLC (a) | 42,101 | $ | 2,796,349 | |||||
| 28,673,341 | ||||||||
| Oil & Gas Services — 0.6% | ||||||||
| Aris Water Solutions, Inc. Class A (b) | 80,690 | 832,721 | ||||||
| TechnipFMC PLC (a) | 244,452 | 4,062,792 | ||||||
| 4,895,513 | ||||||||
| 43,234,100 | ||||||||
| Financial — 10.2% | ||||||||
| Banks — 1.6% | ||||||||
| Ameris Bancorp | 69,100 | 2,363,911 | ||||||
| Cadence Bank | 87,818 | 1,724,746 | ||||||
| First Interstate BancSystem, Inc. Class A | 67,018 | 1,597,709 | ||||||
| Hancock Whitney Corp. | 60,169 | 2,309,286 | ||||||
| National Bank Holdings Corp. Class A | 70,388 | 2,044,068 | ||||||
| Seacoast Banking Corp. of Florida | 105,583 | 2,333,384 | ||||||
| 12,373,104 | ||||||||
| Diversified Financial Services — 3.4% | ||||||||
| Air Lease Corp. | 73,542 | 3,077,733 | ||||||
| Evercore, Inc. Class A | 27,025 | 3,340,020 | ||||||
| Hamilton Lane, Inc. Class A | 90,047 | 7,201,959 | ||||||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b) | 179,572 | 4,489,300 | ||||||
| PJT Partners, Inc. Class A | 63,828 | 4,444,982 | ||||||
| PRA Group, Inc. (a) | 91,220 | 2,084,377 | ||||||
| StepStone Group, Inc. Class A | 94,036 | 2,333,033 | ||||||
| 26,971,404 | ||||||||
| Insurance — 2.1% | ||||||||
| Assured Guaranty Ltd. | 47,885 | 2,671,983 | ||||||
| Kemper Corp. | 44,538 | 2,149,404 | ||||||
| Kinsale Capital Group, Inc. | 20,001 | 7,484,374 | ||||||
| MGIC Investment Corp. | 162,043 | 2,558,659 | ||||||
| Selective Insurance Group, Inc. | 20,843 | 1,999,886 | ||||||
| 16,864,306 | ||||||||
| Real Estate — 0.3% | ||||||||
| McGrath RentCorp | 22,574 | 2,087,643 | ||||||
| Real Estate Investment Trusts (REITS) — 2.8% | ||||||||
| Douglas Emmett, Inc. (b) | 103,064 | 1,295,514 | ||||||
| Essential Properties Realty Trust, Inc. | 100,075 | 2,355,766 | ||||||
| National Storage Affiliates Trust | 51,130 | 1,780,858 | ||||||
| Phillips Edison & Co., Inc. (b) | 168,434 | 5,740,231 | ||||||
| PotlatchDeltic Corp. | 56,530 | 2,987,610 | ||||||
| Ryman Hospitality Properties, Inc. | 40,094 | 3,725,534 | ||||||
| Terreno Realty Corp. | 34,140 | 2,051,814 | ||||||
| Xenia Hotels & Resorts, Inc. | 173,900 | 2,140,709 | ||||||
| 22,078,036 | ||||||||
| 80,374,493 | ||||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Industrial — 18.6% | ||||||||
| Aerospace & Defense — 2.1% | ||||||||
| Curtiss-Wright Corp. | 42,691 | $ | 7,840,629 | |||||
| Hexcel Corp. | 49,671 | 3,775,989 | ||||||
| Leonardo DRS, Inc. (a) (b) | 123,237 | 2,136,930 | ||||||
| Mercury Systems, Inc. (a) | 41,094 | 1,421,442 | ||||||
| Spirit AeroSystems Holdings, Inc. Class A | 35,615 | 1,039,602 | ||||||
| 16,214,592 | ||||||||
| Building Materials — 1.9% | ||||||||
| AAON, Inc. | 27,465 | 2,603,957 | ||||||
| AZEK Co., Inc (a) | 203,360 | 6,159,774 | ||||||
| Eagle Materials, Inc. | 13,938 | 2,598,322 | ||||||
| Louisiana-Pacific Corp. | 38,774 | 2,907,274 | ||||||
| Trex Co., Inc. (a) | 13,676 | 896,599 | ||||||
| 15,165,926 | ||||||||
| Electrical Components & Equipment — 1.6% | ||||||||
| Acuity Brands, Inc. | 9,969 | 1,625,745 | ||||||
| Novanta, Inc. (a) | 60,034 | 11,052,259 | ||||||
| 12,678,004 | ||||||||
| Electronics — 0.9% | ||||||||
| Atkore, Inc. (a) | 19,053 | 2,971,125 | ||||||
| Badger Meter, Inc. | 19,852 | 2,929,361 | ||||||
| NEXTracker, Inc. Class A (a) | 38,092 | 1,516,443 | ||||||
| 7,416,929 | ||||||||
| Engineering & Construction — 2.9% | ||||||||
| Comfort Systems USA, Inc. | 54,813 | 9,000,295 | ||||||
| EMCOR Group, Inc. | 13,525 | 2,499,150 | ||||||
| Fluor Corp. (a) | 232,534 | 6,883,006 | ||||||
| MasTec, Inc. (a) | 14,054 | 1,657,950 | ||||||
| TopBuild Corp. (a) | 9,023 | 2,400,298 | ||||||
| 22,440,699 | ||||||||
| Environmental Controls — 2.1% | ||||||||
| Casella Waste Systems, Inc. Class A (a) | 79,903 | 7,227,226 | ||||||
| Clean Harbors, Inc. (a) | 57,872 | 9,515,893 | ||||||
| 16,743,119 | ||||||||
| Hand & Machine Tools — 0.3% | ||||||||
| Kennametal, Inc. | 76,998 | 2,185,973 | ||||||
| Machinery – Construction & Mining — 0.3% | ||||||||
| Vertiv Holdings Co. | 102,345 | 2,535,086 | ||||||
| Machinery – Diversified — 3.4% | ||||||||
| Albany International Corp. Class A | 18,889 | 1,761,966 | ||||||
| Applied Industrial Technologies, Inc. | 56,221 | 8,142,487 | ||||||
| Cactus, Inc. Class A | 72,557 | 3,070,612 | ||||||
| Esab Corp. | 39,330 | 2,617,018 | ||||||
| Flowserve Corp. | 72,725 | 2,701,734 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Middleby Corp. (a) | 15,511 | $ | 2,292,991 | |||||
| Zurn Elkay Water Solutions Corp. Class C | 226,504 | 6,090,693 | ||||||
| 26,677,501 | ||||||||
| Metal Fabricate & Hardware — 0.5% | ||||||||
| Helios Technologies, Inc. | 31,440 | 2,077,870 | ||||||
| Valmont Industries, Inc. | 5,671 | 1,650,544 | ||||||
| 3,728,414 | ||||||||
| Miscellaneous - Manufacturing — 0.2% | ||||||||
| EnPro Industries, Inc. | 13,900 | 1,856,067 | ||||||
| Packaging & Containers — 0.6% | ||||||||
| Graphic Packaging Holding Co. | 208,009 | 4,998,456 | ||||||
| Transportation — 1.4% | ||||||||
| Kirby Corp. (a) | 38,027 | 2,926,178 | ||||||
| RXO, Inc. (a) | 101,262 | 2,295,609 | ||||||
| Saia, Inc. (a) | 15,810 | 5,413,502 | ||||||
| 10,635,289 | ||||||||
| Trucking & Leasing — 0.4% | ||||||||
| GATX Corp. | 23,175 | 2,983,550 | ||||||
| 146,259,605 | ||||||||
| Technology — 17.2% | ||||||||
| Computers — 2.6% | ||||||||
| CyberArk Software Ltd. (a) | 39,839 | 6,228,031 | ||||||
| Exlservice Holdings, Inc. (a) | 44,358 | 6,700,719 | ||||||
| KBR, Inc. | 60,539 | 3,938,667 | ||||||
| Rapid7, Inc. (a) | 36,410 | 1,648,645 | ||||||
| WNS Holdings Ltd. ADR (a) | 21,904 | 1,614,763 | ||||||
| 20,130,825 | ||||||||
| Semiconductors — 5.3% | ||||||||
| Allegro MicroSystems, Inc. (a) | 42,303 | 1,909,557 | ||||||
| Axcelis Technologies, Inc. (a) | 24,965 | 4,576,834 | ||||||
| Cirrus Logic, Inc. (a) | 23,102 | 1,871,493 | ||||||
| Diodes, Inc. (a) | 29,653 | 2,742,606 | ||||||
| FormFactor, Inc. (a) | 69,492 | 2,378,016 | ||||||
| Impinj, Inc. (a) (b) | 17,081 | 1,531,312 | ||||||
| Lattice Semiconductor Corp. (a) | 80,834 | 7,765,722 | ||||||
| MACOM Technology Solutions Holdings, Inc. (a) | 28,990 | 1,899,715 | ||||||
| MKS Instruments, Inc. | 9,581 | 1,035,706 | ||||||
| Nova Ltd. (a) | 13,840 | 1,623,432 | ||||||
| Power Integrations, Inc. | 50,273 | 4,759,345 | ||||||
| Rambus, Inc. (a) | 59,408 | 3,812,211 | ||||||
| Silicon Laboratories, Inc. (a) | 10,170 | 1,604,216 | ||||||
| SiTime Corp. (a) (b) | 14,717 | 1,736,165 | ||||||
| Synaptics, Inc. (a) | 32,006 | 2,732,672 | ||||||
| 41,979,002 | ||||||||
| Software — 9.3% | ||||||||
| Altair Engineering, Inc. Class A (a) | 43,351 | 3,287,740 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Braze, Inc. Class A (a) | 26,079 | $ | 1,141,999 | |||||
| CCC Intelligent Solutions Holdings, Inc. (a) | 146,150 | 1,638,341 | ||||||
| Clearwater Analytics Holdings, Inc. Class A (a) | 78,070 | 1,238,971 | ||||||
| Confluent, Inc. Class A (a) (b) | 70,054 | 2,473,607 | ||||||
| DigitalOcean Holdings, Inc. (a) (b) | 34,435 | 1,382,221 | ||||||
| DoubleVerify Holdings, Inc. (a) | 219,499 | 8,542,901 | ||||||
| Duolingo, Inc. (a) | 32,308 | 4,618,106 | ||||||
| Evolent Health, Inc. Class A (a) | 94,569 | 2,865,441 | ||||||
| Five9, Inc. (a) | 40,403 | 3,331,227 | ||||||
| Gitlab, Inc. Class A (a) | 64,279 | 3,285,300 | ||||||
| Global-e Online Ltd. (a) (b) | 32,165 | 1,316,835 | ||||||
| Intapp, Inc. (a) | 18,200 | 762,762 | ||||||
| Jamf Holding Corp. (a) (b) | 256,544 | 5,007,739 | ||||||
| Manhattan Associates, Inc. (a) | 46,383 | 9,271,034 | ||||||
| Monday.com Ltd. (a) | 6,941 | 1,188,438 | ||||||
| New Relic, Inc. (a) | 32,378 | 2,118,816 | ||||||
| PowerSchool Holdings, Inc. Class A (a) (b) | 172,105 | 3,294,090 | ||||||
| Privia Health Group, Inc. (a) | 78,589 | 2,051,959 | ||||||
| RingCentral, Inc. Class A (a) | 20,319 | 665,041 | ||||||
| Samsara, Inc. Class A (a) | 68,181 | 1,889,295 | ||||||
| Sprout Social, Inc. Class A (a) | 124,125 | 5,729,610 | ||||||
| Verra Mobility Corp. (a) | 322,553 | 6,360,745 | ||||||
| 73,462,218 | ||||||||
| 135,572,045 | ||||||||
| Utilities — 1.2% | ||||||||
| Electric — 0.9% | ||||||||
| Ameresco, Inc. Class A (a) (b) | 46,541 | 2,263,289 | ||||||
| Atlantica Sustainable Infrastructure PLC | 93,324 | 2,187,514 | ||||||
| Portland General Electric Co. | 58,089 | 2,720,308 | ||||||
| 7,171,111 | ||||||||
| Gas — 0.3% | ||||||||
| ONE Gas, Inc. | 26,599 | 2,043,069 | ||||||
| 9,214,180 | ||||||||
| TOTAL COMMON STOCK (Cost $682,686,982) | 764,408,476 | |||||||
| TOTAL EQUITIES (Cost $682,686,982) | 764,408,476 | |||||||
| MUTUAL FUNDS — 1.5% | ||||||||
| Diversified Financial Services — 1.5% | ||||||||
| iShares Russell 2000 ETF (b) | 30,471 | 5,706,304 | ||||||
| iShares Russell 2000 Growth ETF | 25,186 | 6,111,635 | ||||||
| 11,817,939 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $11,178,053) | 11,817,939 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $693,865,035) | 776,226,415 | |||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 2.9% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.6% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (d) | 12,407,115 | $ | 12,407,115 | |||||
| Repurchase Agreement — 1.3% | Principal Amount | |||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (e) | $ | 10,094,225 | 10,094,225 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $22,501,340) | 22,501,340 | |||||||
| TOTAL INVESTMENTS — 101.6% (Cost $716,366,375) (f) | 798,727,755 | |||||||
| Other Assets/(Liabilities) — (1.6)% | (12,788,298) | |||||||
| NET ASSETS — 100.0% | $ | 785,939,457 | ||||||
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 June 30, 2023, was $55,031,893 or 7.00% of net assets. The Fund received $43,995,159 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 $10,095,504. Collateralized by U.S. Government Agency obligations with rates ranging from 2.375% - 4.250%, maturity dates ranging from 10/15/25 - 5/15/29, and an aggregate market value, including accrued interest, of $10,296,136. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Overseas Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.4% | ||||||||
| COMMON STOCK — 97.8% | ||||||||
| Australia — 1.2% | ||||||||
| Glencore PLC | 513,900 | $ | 2,915,117 | |||||
| Orica Ltd. | 29,133 | 288,938 | ||||||
| Rio Tinto PLC | 41,031 | 2,606,679 | ||||||
| 5,810,734 | ||||||||
| Belgium — 1.0% | ||||||||
| Anheuser-Busch InBev SA | 48,400 | 2,741,192 | ||||||
| KBC Group NV | 29,564 | 2,067,373 | ||||||
| 4,808,565 | ||||||||
| Canada — 3.1% | ||||||||
| Canadian National Railway Co. (a) | 36,244 | 4,388,061 | ||||||
| Intact Financial Corp. | 14,924 | 2,304,250 | ||||||
| Open Text Corp. (a) | 71,090 | 2,956,829 | ||||||
| Restaurant Brands International, Inc. (a) | 5,500 | 426,360 | ||||||
| Suncor Energy, Inc. (a) | 61,913 | 1,816,146 | ||||||
| Toronto-Dominion Bank | 55,512 | 3,440,717 | ||||||
| 15,332,363 | ||||||||
| China — 3.0% | ||||||||
| Alibaba Group Holding Ltd. (b) | 327,940 | 3,410,598 | ||||||
| NetEase, Inc. | 126,300 | 2,454,353 | ||||||
| Prosus NV (b) | 47,423 | 3,470,321 | ||||||
| Tencent Holdings Ltd. | 65,400 | 2,783,589 | ||||||
| Vipshop Holdings Ltd. ADR (b) | 53,143 | 876,860 | ||||||
| Yum China Holdings, Inc. | 32,234 | 1,821,221 | ||||||
| 14,816,942 | ||||||||
| Denmark — 2.3% | ||||||||
| Carlsberg AS Class B | 18,334 | 2,931,470 | ||||||
| DSV AS | 8,480 | 1,784,633 | ||||||
| Novo Nordisk AS Class B | 40,533 | 6,546,637 | ||||||
| 11,262,740 | ||||||||
| France — 16.5% | ||||||||
| Accor SA | 90,170 | 3,353,025 | ||||||
| Air Liquide SA | 52,772 | 9,461,073 | ||||||
| BNP Paribas SA | 84,931 | 5,365,039 | ||||||
| Capgemini SE | 52,391 | 9,925,017 | ||||||
| Cie de Saint-Gobain | 56,344 | 3,432,332 | ||||||
| Cie Generale des Etablissements Michelin SCA | 67,383 | 1,991,927 | ||||||
| Danone SA | 37,400 | 2,291,753 | ||||||
| Dassault Systemes SE | 42,362 | 1,878,590 | ||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Edenred | 23,500 | $ | 1,573,582 | |||||
| Engie SA | 266,306 | 4,429,503 | ||||||
| EssilorLuxottica SA | 26,580 | 5,030,208 | ||||||
| Kering SA | 6,325 | 3,503,024 | ||||||
| L'Oreal SA | 5,992 | 2,796,332 | ||||||
| Legrand SA | 30,082 | 2,984,185 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 9,328 | 8,803,075 | ||||||
| Pernod Ricard SA | 24,878 | 5,496,529 | ||||||
| Publicis Groupe SA | 30,369 | 2,369,056 | ||||||
| Valeo | 124,230 | 2,665,640 | ||||||
| Worldline SA (b) (c) | 100,000 | 3,659,988 | ||||||
| 81,009,878 | ||||||||
| Germany — 15.4% | ||||||||
| adidas AG | 14,115 | 2,737,675 | ||||||
| Allianz SE Registered | 17,185 | 3,997,386 | ||||||
| Bayer AG Registered | 157,579 | 8,711,909 | ||||||
| Bayerische Motoren Werke AG | 31,685 | 3,891,436 | ||||||
| Beiersdorf AG | 42,509 | 5,624,243 | ||||||
| Brenntag SE | 19,600 | 1,527,027 | ||||||
| Continental AG | 52,680 | 3,970,192 | ||||||
| Daimler Truck Holding AG | 101,361 | 3,649,459 | ||||||
| Deutsche Boerse AG | 29,069 | 5,368,590 | ||||||
| Fresenius Medical Care AG & Co. KGaA | 78,421 | 3,745,276 | ||||||
| Fresenius SE & Co. KGaA | 137,700 | 3,811,542 | ||||||
| Henkel AG & Co. KGaA | 29,722 | 2,091,940 | ||||||
| Mercedes-Benz Group AG Registered | 65,173 | 5,245,226 | ||||||
| Merck KGaA | 29,011 | 4,796,458 | ||||||
| MTU Aero Engines AG | 8,234 | 2,133,467 | ||||||
| SAP SE | 72,358 | 9,880,046 | ||||||
| Siemens AG Registered | 16,865 | 2,807,155 | ||||||
| thyssenkrupp AG | 172,517 | 1,349,098 | ||||||
| 75,338,125 | ||||||||
| Hong Kong — 2.5% | ||||||||
| AIA Group Ltd. | 622,400 | 6,350,461 | ||||||
| Prudential PLC | 418,825 | 5,906,412 | ||||||
| 12,256,873 | ||||||||
| India — 1.6% | ||||||||
| Axis Bank Ltd. | 116,905 | 1,408,837 | ||||||
| HDFC Bank Ltd. | 99,073 | 2,057,633 | ||||||
| Housing Development Finance Corp. Ltd. | 70,942 | 2,442,807 | ||||||
| Tata Consultancy Services Ltd. | 45,551 | 1,835,789 | ||||||
| 7,745,066 | ||||||||
| Indonesia — 0.0% | ||||||||
| Bank Mandiri Persero Tbk PT | 565,400 | 197,975 | ||||||
| Ireland — 1.5% | ||||||||
| Ryanair Holdings PLC Sponsored ADR (b) | 64,705 | 7,156,373 | ||||||
| Israel — 0.8% | ||||||||
| Check Point Software Technologies Ltd. (b) | 30,680 | 3,854,022 | ||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Italy — 2.6% | ||||||||
| Eni SpA | 252,157 | $ | 3,635,975 | |||||
| Intesa Sanpaolo SpA | 3,434,850 | 9,027,861 | ||||||
| 12,663,836 | ||||||||
| Japan — 10.6% | ||||||||
| Daikin Industries Ltd. | 26,300 | 5,368,479 | ||||||
| Denso Corp. | 60,200 | 4,058,464 | ||||||
| Fujitsu Ltd. | 14,600 | 1,882,334 | ||||||
| Hitachi Ltd. | 116,100 | 7,185,616 | ||||||
| Hoya Corp. | 26,000 | 3,101,524 | ||||||
| Koito Manufacturing Co. Ltd. | 120,700 | 2,190,783 | ||||||
| Komatsu Ltd. | 76,900 | 2,080,784 | ||||||
| Kose Corp. | 19,800 | 1,903,314 | ||||||
| Kubota Corp. | 83,300 | 1,213,460 | ||||||
| Kyocera Corp. | 63,900 | 3,473,363 | ||||||
| Mitsubishi Electric Corp. | 122,500 | 1,721,461 | ||||||
| Olympus Corp. | 168,800 | 2,671,915 | ||||||
| Recruit Holdings Co. Ltd. | 53,200 | 1,697,799 | ||||||
| Shin-Etsu Chemical Co. Ltd. | 57,500 | 1,911,115 | ||||||
| SMC Corp. | 6,200 | 3,445,962 | ||||||
| Sony Group Corp. | 51,600 | 4,628,398 | ||||||
| Terumo Corp. | 101,300 | 3,221,758 | ||||||
| 51,756,529 | ||||||||
| Luxembourg — 0.4% | ||||||||
| Eurofins Scientific SE (a) | 27,700 | 1,759,465 | ||||||
| Netherlands — 3.2% | ||||||||
| Akzo Nobel NV | 70,711 | 5,777,833 | ||||||
| EXOR NV | 37,300 | 3,332,868 | ||||||
| ING Groep NV | 353,774 | 4,777,567 | ||||||
| Randstad NV | 34,005 | 1,792,120 | ||||||
| 15,680,388 | ||||||||
| Portugal — 0.4% | ||||||||
| Galp Energia SGPS SA | 180,221 | 2,107,214 | ||||||
| Republic of Korea — 1.0% | ||||||||
| NAVER Corp. | 24,465 | 3,425,415 | ||||||
| Samsung Electronics Co. Ltd. | 31,350 | 1,727,900 | ||||||
| 5,153,315 | ||||||||
| Singapore — 0.7% | ||||||||
| DBS Group Holdings Ltd. | 151,900 | 3,551,777 | ||||||
| Spain — 1.3% | ||||||||
| Amadeus IT Group SA (b) | 84,400 | 6,434,762 | ||||||
| Sweden — 1.2% | ||||||||
| Sandvik AB | 47,900 | 935,325 | ||||||
| SKF AB Class B | 152,200 | 2,650,594 | ||||||
| Volvo AB Class B | 121,000 | 2,509,775 | ||||||
| 6,095,694 | ||||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Switzerland — 6.9% | ||||||||
| Cie Financiere Richemont SA Registered Class A | 43,506 | $ | 7,381,822 | |||||
| Julius Baer Group Ltd. | 38,423 | 2,422,682 | ||||||
| Novartis AG Registered | 73,530 | 7,421,192 | ||||||
| Schindler Holding AG | 4,905 | 1,150,683 | ||||||
| Sika AG Registered | 8,946 | 2,558,758 | ||||||
| Sonova Holding AG Registered | 8,987 | 2,394,098 | ||||||
| Swatch Group AG | 4,735 | 1,387,779 | ||||||
| UBS Group AG Registered | 226,936 | 4,617,156 | ||||||
| Zurich Insurance Group AG | 9,623 | 4,571,923 | ||||||
| 33,906,093 | ||||||||
| Taiwan — 0.7% | ||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | 35,833 | 3,616,266 | ||||||
| United Kingdom — 10.7% | ||||||||
| Ashtead Group PLC | 34,200 | 2,374,846 | ||||||
| CNH Industrial NV | 321,297 | 4,643,915 | ||||||
| Compass Group PLC | 290,629 | 8,129,836 | ||||||
| Diageo PLC | 100,913 | 4,328,758 | ||||||
| Informa PLC | 157,800 | 1,454,606 | ||||||
| Liberty Global PLC Class A (b) | 94,300 | 1,589,898 | ||||||
| Lloyds Banking Group PLC | 9,615,397 | 5,330,499 | ||||||
| London Stock Exchange Group PLC | 37,796 | 4,005,117 | ||||||
| Reckitt Benckiser Group PLC | 53,489 | 4,017,040 | ||||||
| RELX PLC | 151,589 | 5,053,736 | ||||||
| Rolls-Royce Holdings PLC (b) | 1,178,151 | 2,262,771 | ||||||
| Schroders PLC | 590,664 | 3,285,820 | ||||||
| Smiths Group PLC | 39,056 | 817,190 | ||||||
| Tesco PLC | 853,615 | 2,697,450 | ||||||
| WPP PLC | 217,444 | 2,272,952 | ||||||
| 52,264,434 | ||||||||
| United States — 9.2% | ||||||||
| Experian PLC | 130,691 | 5,021,873 | ||||||
| Holcim AG | 40,984 | 2,755,457 | ||||||
| Linde PLC | 12,059 | 4,595,444 | ||||||
| Nestle SA Registered | 87,380 | 10,513,972 | ||||||
| QIAGEN NV (b) | 62,957 | 2,824,083 | ||||||
| Roche Holding AG | 33,513 | 10,241,422 | ||||||
| Schneider Electric SE | 50,894 | 9,276,304 | ||||||
| 45,228,555 | ||||||||
| TOTAL COMMON STOCK (Cost $404,139,545) | 479,807,984 | |||||||
| PREFERRED STOCK — 0.6% | ||||||||
| Republic of Korea — 0.6% | ||||||||
| Samsung Electronics Co. Ltd. 1.821% | ||||||||
| 64,600 | 2,931,865 | |||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL PREFERRED STOCK (Cost $3,503,195) | $ | 2,931,865 | ||||||
| TOTAL EQUITIES (Cost $407,642,740) | 482,739,849 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $407,642,740) | 482,739,849 | |||||||
| SHORT-TERM INVESTMENTS — 1.4% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.4% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (d) | 1,789,182 | 1,789,182 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (e) | $ | 4,757,432 | 4,757,432 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $6,546,614) | 6,546,614 | |||||||
| TOTAL INVESTMENTS — 99.8% (Cost $414,189,354) (f) | 489,286,463 | |||||||
| Other Assets/(Liabilities) — 0.2% | 1,043,482 | |||||||
| NET ASSETS — 100.0% | $ | 490,329,945 | ||||||
Abbreviation Legend
| ADR | American 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 June 30, 2023, was $7,349,459 or 1.50% of net assets. The Fund received $5,910,250 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 June 30, 2023, the aggregate market value of these securities amounted to $3,659,988 or 0.75% of net assets. |
| (d) | Represents investment of security lending cash collateral. (Note 2). |
| (e) | Maturity value of $4,758,035. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $4,852,662. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments |
| Number of Shares | Value | |||||||
| EQUITIES — 97.6% | ||||||||
| COMMON STOCK — 96.8% | ||||||||
| Australia — 2.3% | ||||||||
| ANZ Group Holdings Ltd. | 118,872 | $ | 1,884,992 | |||||
| BHP Group Ltd. | 116,435 | 3,474,074 | ||||||
| BHP Group Ltd. Class DI | 214,722 | 6,377,532 | ||||||
| Challenger Ltd. | 203,981 | 885,922 | ||||||
| Downer EDI Ltd. | 654,438 | 1,801,769 | ||||||
| IGO Ltd. | 544,912 | 5,561,703 | ||||||
| Macquarie Group Ltd. | 18,236 | 2,173,097 | ||||||
| Rio Tinto Ltd. | 12,834 | 987,685 | ||||||
| Scentre Group | 1,149,001 | 2,029,398 | ||||||
| South32 Ltd. | 1,775,221 | 4,477,124 | ||||||
| Suncorp Group Ltd. | 208,420 | 1,880,190 | ||||||
| Worley Ltd. | 428,303 | 4,531,573 | ||||||
| 36,065,059 | ||||||||
| Austria — 0.6% | ||||||||
| BAWAG Group AG (a) | 72,633 | 3,353,987 | ||||||
| Erste Group Bank AG | 89,795 | 3,153,040 | ||||||
| Mondi PLC | 52,857 | 807,028 | ||||||
| OMV AG | 44,571 | 1,888,553 | ||||||
| 9,202,608 | ||||||||
| Belgium — 0.3% | ||||||||
| KBC Group NV | 30,137 | 2,107,442 | ||||||
| Umicore SA | 69,397 | 1,939,933 | ||||||
| 4,047,375 | ||||||||
| Brazil — 2.1% | ||||||||
| B3 SA - Brasil Bolsa Balcao | 834,400 | 2,545,964 | ||||||
| Banco BTG Pactual SA | 464,500 | 3,050,943 | ||||||
| EDP - Energias do Brasil SA | 219,468 | 1,082,627 | ||||||
| Hypera SA | 71,740 | 689,353 | ||||||
| Klabin SA | 609,600 | 2,771,604 | ||||||
| Localiza Rent a Car SA | 420,037 | 6,009,050 | ||||||
| MercadoLibre, Inc. (b) | 2,669 | 3,161,697 | ||||||
| Multiplan Empreendimentos Imobiliarios SA | 636,100 | 3,675,888 | ||||||
| Raia Drogasil SA | 813,787 | 5,030,720 | ||||||
| Suzano SA | 228,327 | 2,108,646 | ||||||
| WEG SA | 127,728 | 1,007,003 | ||||||
| XP, Inc. Class A (b) | 50,826 | 1,192,378 | ||||||
| 32,325,873 | ||||||||
| Canada — 3.8% | ||||||||
| Brookfield Corp. | 60,200 | 2,026,737 | ||||||
| Canadian National Railway Co. | 24,600 | 2,978,322 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Canadian Pacific Kansas City Ltd. (c) | 62,263 | $ | 5,028,983 | |||||
| Cenovus Energy, Inc. | 101,500 | 1,723,910 | ||||||
| Constellation Software, Inc. (c) | 2,022 | 4,189,398 | ||||||
| Definity Financial Corp. | 114,085 | 3,027,052 | ||||||
| Element Fleet Management Corp. | 295,496 | 4,501,309 | ||||||
| Magna International, Inc. (c) | 76,549 | 4,320,426 | ||||||
| National Bank of Canada | 129,827 | 9,672,712 | ||||||
| Shopify, Inc. Class A (b) | 51,509 | 3,327,481 | ||||||
| Sun Life Financial, Inc. | 126,766 | 6,608,387 | ||||||
| Suncor Energy, Inc. (c) | 162,953 | 4,780,037 | ||||||
| The Descartes Systems Group, Inc. (b) | 17,886 | 1,432,847 | ||||||
| TMX Group Ltd. | 245,375 | 5,521,516 | ||||||
| 59,139,117 | ||||||||
| Chile — 0.4% | ||||||||
| Antofagasta PLC | 134,577 | 2,507,966 | ||||||
| Banco de Chile | 25,725,259 | 2,685,293 | ||||||
| Banco Santander Chile Sponsored ADR | 46,681 | 879,937 | ||||||
| 6,073,196 | ||||||||
| China — 10.2% | ||||||||
| Alibaba Group Holding Ltd. (b) | 708,980 | 7,373,439 | ||||||
| Alibaba Group Holding Ltd. Sponsored ADR (b) | 121,238 | 10,105,187 | ||||||
| Baidu, Inc. Class A (b) | 229,950 | 3,930,524 | ||||||
| Baidu, Inc. Sponsored ADR (b) | 16,232 | 2,222,323 | ||||||
| BeiGene Ltd. ADR (b) | 5,727 | 1,021,124 | ||||||
| Beijing Capital International Airport Co. Ltd. Class H (b) | 1,990,000 | 1,289,069 | ||||||
| Beijing Enterprises Holdings Ltd. | 227,000 | 824,220 | ||||||
| Budweiser Brewing Co. APAC Ltd. (a) | 1,027,600 | 2,649,765 | ||||||
| Chacha Food Co. Ltd. Class A | 203,800 | 1,167,746 | ||||||
| China Construction Bank Corp. Class H | 3,965,000 | 2,571,133 | ||||||
| China Oilfield Services Ltd. Class A | 1,041,800 | 1,996,475 | ||||||
| China Overseas Land & Investment Ltd. | 1,154,000 | 2,522,181 | ||||||
| China Resources Gas Group Ltd. | 702,500 | 2,408,662 | ||||||
| China Resources Mixc Lifestyle Services Ltd. (a) | 158,600 | 789,090 | ||||||
| Focus Media Information Technology Co. Ltd. Class A | 2,098,900 | 1,968,659 | ||||||
| Fosun International Ltd. | 1,231,000 | 846,873 | ||||||
| Fuyao Glass Industry Group Co. Ltd. Class A | 887,000 | 4,383,405 | ||||||
| Glodon Co. Ltd. Class A | 175,560 | 785,181 | ||||||
| Guangdong Investment Ltd. | 1,316,000 | 1,136,359 | ||||||
| Hongfa Technology Co. Ltd. Class A | 140,420 | 616,518 | ||||||
| Hundsun Technologies, Inc. Class A | 245,000 | 1,500,307 | ||||||
| Inner Mongolia Yili Industrial Group Co. Ltd. Class A | 1,100,900 | 4,303,790 | ||||||
| JD Health International, Inc. (a) (b) | 262,950 | 1,666,945 | ||||||
| JD.com, Inc. Class A | 35,000 | 595,431 | ||||||
| Jiumaojiu International Holdings Ltd. (a) | 528,000 | 868,902 | ||||||
| JOYY, Inc. ADR | 35,606 | 1,093,460 | ||||||
| KE Holdings, Inc. ADR (b) | 234,906 | 3,488,354 | ||||||
| Kweichow Moutai Co. Ltd. Class A | 12,398 | 2,890,847 | ||||||
| Li Auto, Inc. ADR (b) | 47,400 | 1,663,740 | ||||||
| Li Auto, Inc. Class A (b) | 5,200 | 90,863 | ||||||
| Li Ning Co. Ltd. | 330,500 | 1,787,389 | ||||||
| Longfor Group Holdings Ltd. (a) | 547,591 | 1,341,159 | ||||||
| NARI Technology Co. Ltd. Class A | 1,503,645 | 4,791,675 | ||||||
| Nongfu Spring Co. Ltd. Class H (a) | 142,600 | 788,590 | ||||||
| NXP Semiconductor NV | 30,579 | 6,258,910 | ||||||
| PDD Holdings, Inc. (b) | 13,259 | 916,727 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| PICC Property & Casualty Co. Ltd. Class H | 1,496,000 | $ | 1,667,636 | |||||
| Ping An Insurance Group Co. of China Ltd. Class H | 146,000 | 935,449 | ||||||
| Pony Testing International Group Co. Ltd. Class A | 106,331 | 579,934 | ||||||
| Prosus NV | 168,784 | 12,351,279 | ||||||
| Prosus NV (c) | 37,811 | 2,777,288 | ||||||
| Sangfor Technologies, Inc. Class A (b) | 1,500 | 23,414 | ||||||
| Shandong Pharmaceutical Glass Co. Ltd. Class A | 314,700 | 1,180,818 | ||||||
| Shandong Weigao Group Medical Polymer Co. Ltd. Class H | 1,180,000 | 1,547,666 | ||||||
| Shenzhen Inovance Technology Co. Ltd. Class A | 392,800 | 3,476,284 | ||||||
| Silergy Corp. | 137,000 | 1,712,972 | ||||||
| Songcheng Performance Development Co. Ltd. Class A | 334,970 | 572,118 | ||||||
| Sunny Optical Technology Group Co. Ltd. | 34,400 | 345,708 | ||||||
| Tencent Holdings Ltd. | 259,400 | 11,040,720 | ||||||
| Tingyi Cayman Islands Holding Corp. | 738,000 | 1,147,077 | ||||||
| Tongcheng Travel Holdings Ltd. (a) (b) | 1,351,200 | 2,835,850 | ||||||
| Trip.com Group Ltd. (b) | 81,900 | 2,865,276 | ||||||
| Tsingtao Brewery Co. Ltd. Class H | 246,000 | 2,241,738 | ||||||
| Weichai Power Co. Ltd. Class A | 1,461,700 | 2,510,152 | ||||||
| Wilmar International Ltd. | 992,800 | 2,795,826 | ||||||
| Xiamen Faratronic Co. Ltd. Class A | 21,000 | 397,054 | ||||||
| Yangzijiang Shipbuilding Holdings Ltd. | 3,270,100 | 3,632,996 | ||||||
| Yifeng Pharmacy Chain Co. Ltd. Class A | 368,082 | 1,876,198 | ||||||
| Yum China Holdings, Inc. | 161,000 | 9,096,500 | ||||||
| Yum China Holdings, Inc. | 8,400 | 474,706 | ||||||
| Zhejiang Sanhua Intelligent Controls Co. Ltd. Class A | 263,800 | 1,101,771 | ||||||
| Zhongsheng Group Holdings Ltd. | 967,000 | 3,715,681 | ||||||
| ZWSOFT Co. Ltd. Guangzhou Class A | 35,569 | 713,338 | ||||||
| 158,270,471 | ||||||||
| Denmark — 1.0% | ||||||||
| Carlsberg AS Class B | 16,438 | 2,628,313 | ||||||
| Genmab AS (b) | 8,503 | 3,227,280 | ||||||
| Novo Nordisk AS Class B | 28,910 | 4,669,363 | ||||||
| Novo Nordisk AS Sponsored ADR | 28,069 | 4,542,406 | ||||||
| 15,067,362 | ||||||||
| Finland — 0.6% | ||||||||
| Sampo OYJ Class A | 154,483 | 6,928,391 | ||||||
| Stora Enso OYJ Class R | 165,855 | 1,922,187 | ||||||
| 8,850,578 | ||||||||
| France — 6.8% | ||||||||
| Air Liquide SA | 21,734 | 3,896,516 | ||||||
| Airbus SE | 36,873 | 5,330,189 | ||||||
| Alstom SA | 77,367 | 2,309,381 | ||||||
| AXA SA | 427,202 | 12,621,058 | ||||||
| BNP Paribas SA | 117,265 | 7,407,558 | ||||||
| Capgemini SE | 23,235 | 4,401,668 | ||||||
| Dassault Aviation SA | 32,426 | 6,488,096 | ||||||
| Engie SA | 568,819 | 9,461,242 | ||||||
| EssilorLuxottica SA | 25,199 | 4,768,857 | ||||||
| Forvia (b) | 64,942 | 1,531,868 | ||||||
| Kering SA | 11,208 | 6,207,413 | ||||||
| L'Oreal SA | 9,509 | 4,437,637 | ||||||
| Legrand SA | 35,676 | 3,539,119 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 2,318 | 2,187,556 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Safran SA | 45,620 | $ | 7,167,436 | |||||
| Teleperformance | 23,079 | 3,874,403 | ||||||
| Thales SA | 25,380 | 3,799,081 | ||||||
| TotalEnergies SE | 234,003 | 13,411,291 | ||||||
| Ubisoft Entertainment SA (b) | 70,022 | 1,979,247 | ||||||
| 104,819,616 | ||||||||
| Germany — 6.0% | ||||||||
| BASF SE | 43,387 | 2,106,550 | ||||||
| Bayer AG Registered | 156,798 | 8,668,731 | ||||||
| Brenntag SE | 21,517 | 1,676,379 | ||||||
| Covestro AG (a) (b) | 105,285 | 5,466,964 | ||||||
| Daimler Truck Holding AG | 121,533 | 4,375,743 | ||||||
| Deutsche Boerse AG | 10,855 | 2,004,749 | ||||||
| Deutsche Post AG Registered | 60,849 | 2,971,404 | ||||||
| Deutsche Telekom AG Registered | 427,720 | 9,322,989 | ||||||
| Evotec SE (b) | 180,267 | 4,052,238 | ||||||
| Fresenius SE & Co. KGaA | 140,298 | 3,883,455 | ||||||
| Heidelberg Materials AG | 22,797 | 1,871,973 | ||||||
| Infineon Technologies AG | 37,003 | 1,526,023 | ||||||
| KION Group AG | 38,097 | 1,531,949 | ||||||
| Mercedes-Benz Group AG Registered | 37,261 | 2,998,824 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Registered | 17,841 | 6,690,131 | ||||||
| Puma SE | 74,918 | 4,505,248 | ||||||
| SAP SE | 62,063 | 8,474,326 | ||||||
| Siemens AG Registered | 98,708 | 16,429,802 | ||||||
| Siemens Healthineers AG (a) | 63,012 | 3,566,305 | ||||||
| Zalando SE (a) (b) | 41,189 | 1,185,062 | ||||||
| 93,308,845 | ||||||||
| Guatemala — 0.1% | ||||||||
| Millicom International Cellular SA (b) (c) | 86,303 | 1,319,986 | ||||||
| Hong Kong — 1.4% | ||||||||
| AIA Group Ltd. | 1,285,600 | 13,117,213 | ||||||
| Hong Kong Exchanges & Clearing Ltd. | 40,200 | 1,528,767 | ||||||
| Hongkong Land Holdings Ltd. | 300,000 | 1,172,065 | ||||||
| Prudential PLC | 463,842 | 6,541,257 | ||||||
| 22,359,302 | ||||||||
| Hungary — 0.4% | ||||||||
| OTP Bank Nyrt | 186,106 | 6,612,362 | ||||||
| India — 4.3% | ||||||||
| Ashok Leyland Ltd. | 378,561 | 773,672 | ||||||
| Asian Paints Ltd. | 28,052 | 1,148,926 | ||||||
| Axis Bank Ltd. | 529,389 | 6,379,735 | ||||||
| HDFC Asset Management Co. Ltd. (a) | 23,024 | 642,352 | ||||||
| HDFC Bank Ltd. | 72,570 | 1,507,196 | ||||||
| HDFC Life Insurance Co. Ltd. (a) | 496,193 | 3,924,301 | ||||||
| Hindalco Industries Ltd. | 318,444 | 1,640,732 | ||||||
| Hindustan Unilever Ltd. | 28,483 | 929,419 | ||||||
| Housing Development Finance Corp. Ltd. | 234,994 | 8,091,750 | ||||||
| ICICI Bank Ltd. | 319,024 | 3,643,847 | ||||||
| ICICI Bank Ltd. Sponsored ADR | 99,443 | 2,295,144 | ||||||
| Indus Towers Ltd. | 283,616 | 567,543 | ||||||
| Infosys Ltd. | 158,179 | 2,568,303 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Kotak Mahindra Bank Ltd. | 122,962 | $ | 2,763,737 | |||||
| Larsen & Toubro Ltd. | 106,106 | 3,198,943 | ||||||
| Maruti Suzuki India Ltd. | 6,372 | 760,912 | ||||||
| NTPC Ltd. | 2,230,173 | 5,143,513 | ||||||
| Petronet LNG Ltd. | 857,585 | 2,330,657 | ||||||
| Reliance Industries Ltd. | 159,816 | 4,989,170 | ||||||
| Shree Cement Ltd. | 6,812 | 1,985,498 | ||||||
| Shriram Finance Ltd. | 237,437 | 5,033,200 | ||||||
| Tata Consultancy Services Ltd. | 11,420 | 460,247 | ||||||
| Tech Mahindra Ltd. | 148,647 | 2,052,271 | ||||||
| Varun Beverages Ltd. | 126,334 | 1,243,042 | ||||||
| Voltas Ltd. | 214,065 | 1,989,602 | ||||||
| 66,063,712 | ||||||||
| Indonesia — 0.7% | ||||||||
| Bank Central Asia Tbk PT | 8,909,400 | 5,492,415 | ||||||
| Bank Rakyat Indonesia Persero Tbk PT | 9,838,264 | 3,576,114 | ||||||
| Sarana Menara Nusantara Tbk PT | 23,074,900 | 1,629,256 | ||||||
| Sumber Alfaria Trijaya Tbk PT | 2,742,800 | 472,339 | ||||||
| 11,170,124 | ||||||||
| Ireland — 0.3% | ||||||||
| AerCap Holdings NV (b) | 38,506 | 2,445,901 | ||||||
| Kerry Group PLC Class A | 21,104 | 2,059,153 | ||||||
| 4,505,054 | ||||||||
| Italy — 1.9% | ||||||||
| Amplifon SpA (c) | 49,318 | 1,810,061 | ||||||
| Banca Mediolanum SpA | 265,439 | 2,406,591 | ||||||
| DiaSorin SpA | 19,938 | 2,075,010 | ||||||
| Enel SpA | 663,526 | 4,469,704 | ||||||
| Ermenegildo Zegna NV | 131,238 | 1,664,098 | ||||||
| Intesa Sanpaolo SpA | 458,414 | 1,204,856 | ||||||
| Leonardo SpA | 192,250 | 2,184,228 | ||||||
| Moncler SpA | 43,351 | 2,999,607 | ||||||
| Prysmian SpA | 149,211 | 6,249,568 | ||||||
| UniCredit SpA | 184,433 | 4,301,012 | ||||||
| 29,364,735 | ||||||||
| Japan — 13.9% | ||||||||
| Asahi Group Holdings Ltd. | 82,900 | 3,213,453 | ||||||
| Asahi Kasei Corp. | 221,600 | 1,504,233 | ||||||
| Astellas Pharma, Inc. | 522,500 | 7,786,019 | ||||||
| Calbee, Inc. | 57,100 | 1,081,650 | ||||||
| Central Japan Railway Co. | 12,300 | 1,542,498 | ||||||
| Chugai Pharmaceutical Co. Ltd. | 131,000 | 3,725,647 | ||||||
| CyberAgent, Inc. | 189,000 | 1,380,310 | ||||||
| Daiichi Sankyo Co. Ltd. | 82,500 | 2,616,192 | ||||||
| Daikin Industries Ltd. | 12,300 | 2,510,733 | ||||||
| Denso Corp. | 45,600 | 3,074,185 | ||||||
| DIC Corp. (c) | 55,600 | 1,012,725 | ||||||
| Disco Corp. | 16,000 | 2,531,275 | ||||||
| Electric Power Development Co. Ltd. Class C | 85,800 | 1,261,169 | ||||||
| Fujitsu Ltd. | 26,400 | 3,403,672 | ||||||
| Hamamatsu Photonics KK | 41,400 | 2,032,321 | ||||||
| Hikari Tsushin, Inc. | 7,600 | 1,092,239 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hitachi Ltd. | 87,300 | $ | 5,403,138 | |||||
| Honda Motor Co. Ltd. | 34,400 | 1,039,175 | ||||||
| Isetan Mitsukoshi Holdings Ltd. | 90,700 | 924,299 | ||||||
| Kao Corp. (c) | 63,900 | 2,314,431 | ||||||
| Keyence Corp. | 8,200 | 3,877,929 | ||||||
| Kirin Holdings Co. Ltd. (c) | 87,300 | 1,274,958 | ||||||
| MatsukiyoCocokara & Co. | 43,000 | 2,416,365 | ||||||
| MINEBEA MITSUMI, Inc. | 62,800 | 1,189,218 | ||||||
| Mitsubishi Corp. | 64,000 | 3,102,341 | ||||||
| Mitsubishi Electric Corp. | 480,700 | 6,755,151 | ||||||
| Mitsubishi Estate Co. Ltd. | 178,800 | 2,132,729 | ||||||
| Mitsubishi HC Capital, Inc. | 223,600 | 1,332,319 | ||||||
| Mitsubishi UFJ Financial Group, Inc. | 1,109,500 | 8,189,622 | ||||||
| Mitsui Fudosan Co. Ltd. | 354,200 | 7,067,018 | ||||||
| Murata Manufacturing Co. Ltd. | 96,000 | 5,508,466 | ||||||
| Nextage Co. Ltd. (c) | 70,000 | 1,360,815 | ||||||
| Nippon Sanso Holdings Corp. | 68,300 | 1,484,611 | ||||||
| Nippon Shokubai Co. Ltd. | 23,400 | 877,439 | ||||||
| Nippon Steel Corp. | 88,900 | 1,866,145 | ||||||
| Nippon Telegraph & Telephone Corp. | 13,097,700 | 15,519,391 | ||||||
| Niterra Co. Ltd. | 31,100 | 618,795 | ||||||
| NTT Data Corp. | 241,600 | 3,382,796 | ||||||
| Olympus Corp. | 202,200 | 3,200,600 | ||||||
| Omron Corp. | 23,800 | 1,457,963 | ||||||
| ORIX Corp. | 162,000 | 2,962,748 | ||||||
| Otsuka Holdings Co. Ltd. (c) | 175,700 | 6,439,506 | ||||||
| Outsourcing, Inc. | 153,600 | 1,466,140 | ||||||
| Panasonic Holdings Corp. | 232,100 | 2,843,220 | ||||||
| Persol Holdings Co. Ltd. | 207,100 | 3,747,852 | ||||||
| Recruit Holdings Co. Ltd. | 118,200 | 3,772,178 | ||||||
| Renesas Electronics Corp. (b) | 115,700 | 2,189,598 | ||||||
| Seven & i Holdings Co. Ltd. | 195,900 | 8,470,309 | ||||||
| Shimadzu Corp. | 62,000 | 1,919,465 | ||||||
| SMC Corp. | 3,500 | 1,945,301 | ||||||
| Sompo Holdings, Inc. | 55,300 | 2,479,110 | ||||||
| Sony Group Corp. | 81,800 | 7,337,267 | ||||||
| Stanley Electric Co. Ltd. | 194,200 | 3,937,513 | ||||||
| Sumitomo Corp. | 277,400 | 5,893,777 | ||||||
| Sumitomo Metal Mining Co. Ltd. | 49,300 | 1,588,983 | ||||||
| Sumitomo Mitsui Trust Holdings, Inc. | 40,500 | 1,449,192 | ||||||
| Suzuki Motor Corp. | 92,100 | 3,346,797 | ||||||
| Taiheiyo Cement Corp. | 74,600 | 1,463,964 | ||||||
| Takeda Pharmaceutical Co. Ltd. | 66,000 | 2,074,449 | ||||||
| TechnoPro Holdings, Inc. (c) | 84,800 | 1,839,153 | ||||||
| THK Co. Ltd. (c) | 43,300 | 891,641 | ||||||
| Tokio Marine Holdings, Inc. | 165,600 | 3,823,570 | ||||||
| Tokyo Electron Ltd. | 45,100 | 6,458,481 | ||||||
| Tosoh Corp. | 21,300 | 252,528 | ||||||
| Toyota Motor Corp. | 681,300 | 10,887,880 | ||||||
| Welcia Holdings Co. Ltd. | 39,700 | 826,035 | ||||||
| Z Holdings Corp. | 1,428,000 | 3,448,473 | ||||||
| 215,819,165 | ||||||||
| Luxembourg — 0.3% | ||||||||
| ArcelorMittal SA | 75,525 | 2,057,642 | ||||||
| Eurofins Scientific SE | 36,233 | 2,301,469 | ||||||
| 4,359,111 | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Malaysia — 0.2% | ||||||||
| CIMB Group Holdings Bhd | 2,765,696 | $ | 3,001,360 | |||||
| Mexico — 0.9% | ||||||||
| Becle SAB de CV (c) | 156,041 | 382,331 | ||||||
| Fresnillo PLC | 181,368 | 1,405,682 | ||||||
| Gruma SAB de CV Class B | 176,117 | 2,827,935 | ||||||
| Grupo Aeroportuario del Pacifico SAB de CV ADR | 10,106 | 1,806,144 | ||||||
| Grupo Financiero Banorte SAB de CV Class O | 91,900 | 756,053 | ||||||
| Grupo Mexico SAB de CV Series B | 908,517 | 4,368,228 | ||||||
| Wal-Mart de Mexico SAB de CV | 635,100 | 2,518,954 | ||||||
| 14,065,327 | ||||||||
| Mongolia — 0.3% | ||||||||
| Galaxy Entertainment Group Ltd. (b) | 701,000 | 4,473,976 | ||||||
| Netherlands — 4.9% | ||||||||
| Adyen NV (a) (b) | 1,327 | 2,299,179 | ||||||
| Akzo Nobel NV | 133,282 | 10,890,542 | ||||||
| ASML Holding NV | 35,499 | 25,696,695 | ||||||
| ASR Nederland NV | 32,772 | 1,474,020 | ||||||
| Euronext NV (a) | 15,503 | 1,054,489 | ||||||
| Heineken NV | 34,581 | 3,558,793 | ||||||
| ING Groep NV | 986,059 | 13,316,307 | ||||||
| Koninklijke Philips NV | 382,474 | 8,276,870 | ||||||
| Shell PLC | 193,591 | 5,763,899 | ||||||
| Shell PLC ADR | 56,602 | 3,417,629 | ||||||
| 75,748,423 | ||||||||
| Norway — 0.8% | ||||||||
| DNB Bank ASA | 250,802 | 4,688,931 | ||||||
| Equinor ASA | 176,068 | 5,114,723 | ||||||
| Storebrand ASA | 298,397 | 2,326,366 | ||||||
| 12,130,020 | ||||||||
| Peru — 0.1% | ||||||||
| Credicorp Ltd. | 5,045 | 744,844 | ||||||
| Philippines — 0.4% | ||||||||
| BDO Unibank, Inc. | 466,444 | 1,163,442 | ||||||
| Jollibee Foods Corp. | 220,900 | 957,914 | ||||||
| SM Investments Corp. | 154,430 | 2,591,880 | ||||||
| TELUS International CDA, Inc. (b) | 57,509 | 872,131 | ||||||
| Universal Robina Corp. | 299,400 | 747,301 | ||||||
| 6,332,668 | ||||||||
| Poland — 0.1% | ||||||||
| Powszechny Zaklad Ubezpieczen SA | 208,335 | 2,020,488 | ||||||
| Portugal — 0.6% | ||||||||
| Banco Comercial Portugues SA Class R | 4,349,863 | 1,043,804 | ||||||
| Galp Energia SGPS SA | 400,498 | 4,682,780 | ||||||
| Jeronimo Martins SGPS SA | 136,594 | 3,765,948 | ||||||
| 9,492,532 | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Republic of Korea — 3.6% | ||||||||
| Amorepacific Corp. | 8,998 | $ | 666,548 | |||||
| CJ CheilJedang Corp. | 5,580 | 1,145,233 | ||||||
| Hyundai Motor Co. | 18,731 | 2,947,217 | ||||||
| KT Corp. | 74,036 | 1,677,995 | ||||||
| KT Corp. Sponsored ADR (c) | 135,526 | 1,531,444 | ||||||
| LG Chem Ltd. | 4,368 | 2,234,005 | ||||||
| Lotte Chemical Corp. | 22,612 | 2,664,089 | ||||||
| NAVER Corp. | 26,658 | 3,732,463 | ||||||
| POSCO Holdings, Inc. | 3,555 | 1,054,962 | ||||||
| Samsung Electronics Co. Ltd. | 634,003 | 34,943,987 | ||||||
| SK Hynix, Inc. | 40,866 | 3,603,335 | ||||||
| 56,201,278 | ||||||||
| Russia — 0.0% | ||||||||
| Gazprom PJSC (d) (e) | 496,602 | — | ||||||
| Novatek PJSC (d) (e) | 73,140 | — | ||||||
| TCS Group Holding, PLC (a) (b) (d) (e) | 10,848 | — | ||||||
| X5 Retail Group NV GDR (a) (b) (d) (e) (f) | 43,260 | — | ||||||
| — | ||||||||
| Saudi Arabia — 0.9% | ||||||||
| Al Rajhi Bank | 50,958 | 996,590 | ||||||
| Arabian Internet & Communications Services Co. | 7,966 | 686,107 | ||||||
| Nahdi Medical Co. | 39,313 | 1,782,363 | ||||||
| Saudi Basic Industries Corp. | 135,373 | 3,184,267 | ||||||
| Saudi British Bank | 281,631 | 2,869,355 | ||||||
| Saudi National Bank (f) | 405,665 | 3,983,331 | ||||||
| 13,502,013 | ||||||||
| Singapore — 0.8% | ||||||||
| DBS Group Holdings Ltd. | 85,900 | 2,008,543 | ||||||
| Jardine Cycle & Carriage Ltd. | 68,100 | 1,757,701 | ||||||
| Sea Ltd. ADR (b) | 39,211 | 2,275,807 | ||||||
| United Overseas Bank Ltd. | 326,700 | 6,772,511 | ||||||
| 12,814,562 | ||||||||
| South Africa — 0.5% | ||||||||
| Capitec Bank Holdings Ltd. | 26,799 | 2,232,113 | ||||||
| Clicks Group Ltd. | 100,581 | 1,398,565 | ||||||
| FirstRand Ltd. | 691,342 | 2,522,852 | ||||||
| Kumba Iron Ore Ltd. | 55,049 | 1,294,944 | ||||||
| 7,448,474 | ||||||||
| Spain — 0.9% | ||||||||
| Amadeus IT Group SA (b) | 83,843 | 6,392,296 | ||||||
| Fluidra SA (c) | 141,863 | 2,762,963 | ||||||
| Iberdrola SA | 337,395 | 4,407,013 | ||||||
| 13,562,272 | ||||||||
| Sweden — 1.5% | ||||||||
| Assa Abloy AB Class B | 111,771 | 2,682,983 | ||||||
| Autoliv, Inc. | 26,477 | 2,255,082 | ||||||
| Elekta AB (c) | 208,671 | 1,613,870 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Essity AB Class B | 143,581 | $ | 3,821,698 | |||||
| Olink Holding AB ADR (b) (c) | 49,013 | 918,994 | ||||||
| Svenska Handelsbanken AB Class A | 309,181 | 2,593,323 | ||||||
| Swedbank AB Class A | 247,642 | 4,182,415 | ||||||
| Telefonaktiebolaget LM Ericsson Class B | 1,014,983 | 5,535,790 | ||||||
| 23,604,155 | ||||||||
| Switzerland — 3.6% | ||||||||
| ABB Ltd. Registered | 125,299 | 4,930,303 | ||||||
| Alcon, Inc. | 103,630 | 8,610,164 | ||||||
| Barry Callebaut AG Registered | 2,510 | 4,845,251 | ||||||
| DSM-Firmenich AG (b) | 13,253 | 1,426,225 | ||||||
| Julius Baer Group Ltd. | 103,178 | 6,505,672 | ||||||
| Lonza Group AG Registered | 4,195 | 2,505,214 | ||||||
| Novartis AG Registered | 114,992 | 11,605,844 | ||||||
| Partners Group Holding AG | 4,670 | 4,397,237 | ||||||
| UBS Group AG Registered | 162,627 | 3,308,748 | ||||||
| Zurich Insurance Group AG | 16,509 | 7,843,488 | ||||||
| 55,978,146 | ||||||||
| Taiwan — 3.7% | ||||||||
| ASE Technology Holding Co. Ltd. | 804,000 | 2,867,756 | ||||||
| Bizlink Holding, Inc. | 211,263 | 2,193,013 | ||||||
| Chailease Holding Co. Ltd. | 172,000 | 1,132,738 | ||||||
| Hon Hai Precision Industry Co. Ltd. | 1,212,000 | 4,411,382 | ||||||
| Largan Precision Co. Ltd. | 11,000 | 755,660 | ||||||
| MediaTek, Inc. | 177,000 | 3,928,898 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 2,191,000 | 40,830,003 | ||||||
| Vanguard International Semiconductor Corp. | 370,000 | 1,050,822 | ||||||
| 57,170,272 | ||||||||
| Thailand — 0.6% | ||||||||
| Bangkok Dusit Medical Services PCL Class F | 2,059,000 | 1,611,543 | ||||||
| Bumrungrad Hospital PCL | 149,100 | 951,270 | ||||||
| CP ALL PCL | 1,735,800 | 3,059,864 | ||||||
| Land & Houses PCL | 5,716,300 | 1,364,888 | ||||||
| SCB X PCL | 613,000 | 1,845,050 | ||||||
| Siam Cement PCL | 44,700 | 406,545 | ||||||
| 9,239,160 | ||||||||
| United Arab Emirates — 0.1% | ||||||||
| First Abu Dhabi Bank PJSC | 343,659 | 1,281,835 | ||||||
| United Kingdom — 8.7% | ||||||||
| Ashtead Group PLC | 96,646 | 6,711,092 | ||||||
| AstraZeneca PLC Sponsored ADR | 282,159 | 20,194,120 | ||||||
| Barclays PLC | 1,088,626 | 2,126,454 | ||||||
| Bridgepoint Group PLC (a) | 755,345 | 1,942,180 | ||||||
| British American Tobacco PLC | 57,131 | 1,895,403 | ||||||
| Bunzl PLC | 50,564 | 1,925,135 | ||||||
| CK Hutchison Holdings Ltd. | 259,000 | 1,585,319 | ||||||
| Compass Group PLC | 161,739 | 4,524,364 | ||||||
| DCC PLC | 32,319 | 1,806,476 | ||||||
| Diageo PLC | 96,492 | 4,139,115 | ||||||
| Dowlais Group PLC (b) | 494,221 | 796,773 | ||||||
| Dr Martens PLC | 235,578 | 365,971 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Great Portland Estates PLC | 362,653 | $ | 1,916,468 | |||||
| HSBC Holdings PLC | 695,778 | 5,503,188 | ||||||
| Imperial Brands PLC | 181,500 | 4,013,831 | ||||||
| Informa PLC | 228,947 | 2,110,442 | ||||||
| InterContinental Hotels Group PLC | 32,878 | 2,270,432 | ||||||
| Investec PLC | 199,732 | 1,122,566 | ||||||
| Johnson Matthey PLC | 82,176 | 1,827,982 | ||||||
| Kingfisher PLC | 1,055,364 | 3,104,849 | ||||||
| Lloyds Banking Group PLC | 8,371,340 | 4,640,830 | ||||||
| London Stock Exchange Group PLC | 46,795 | 4,958,711 | ||||||
| Melrose Industries PLC | 479,708 | 3,087,993 | ||||||
| National Grid PLC | 226,708 | 2,995,746 | ||||||
| Next PLC | 48,462 | 4,255,845 | ||||||
| Pearson PLC | 153,071 | 1,613,154 | ||||||
| Persimmon PLC | 88,512 | 1,153,920 | ||||||
| Rightmove PLC | 219,866 | 1,460,554 | ||||||
| Rolls-Royce Holdings PLC (b) | 2,228,336 | 4,279,770 | ||||||
| Smith & Nephew PLC | 221,964 | 3,581,573 | ||||||
| Smiths Group PLC | 98,580 | 2,062,644 | ||||||
| Standard Chartered PLC | 161,983 | 1,412,674 | ||||||
| Taylor Wimpey PLC | 1,130,819 | 1,477,092 | ||||||
| Unilever PLC | 107,614 | 5,602,303 | ||||||
| Unilever PLC | 257,446 | 13,423,880 | ||||||
| Vodafone Group PLC | 1,704,363 | 1,608,099 | ||||||
| Vodafone Group PLC Sponsored ADR | 181,194 | 1,712,283 | ||||||
| WPP PLC | 596,651 | 6,236,819 | ||||||
| 135,446,050 | ||||||||
| United States — 6.2% | ||||||||
| Amcor PLC | 226,360 | 2,252,361 | ||||||
| Broadcom, Inc. | 6,477 | 5,618,344 | ||||||
| BRP, Inc. | 19,421 | 1,641,787 | ||||||
| Canva, Inc. (Acquired 8/16/21-11/04/21, Cost $652,842) (b) (d) (e) (g) | 383 | 271,765 | ||||||
| Globant SA (b) | 5,500 | 988,460 | ||||||
| GSK PLC Sponsored ADR | 184,357 | 6,570,484 | ||||||
| Holcim AG | 39,174 | 2,633,766 | ||||||
| Las Vegas Sands Corp. (b) | 29,600 | 1,716,800 | ||||||
| Linde PLC | 13,238 | 5,045,435 | ||||||
| Mastercard, Inc. Class A | 7,106 | 2,794,790 | ||||||
| Nestle SA Registered | 168,472 | 20,271,343 | ||||||
| Roche Holding AG | 65,859 | 20,126,214 | ||||||
| Samsonite International SA (a) (b) | 450,000 | 1,279,329 | ||||||
| Sanofi | 136,090 | 14,589,259 | ||||||
| Signify NV (a) | 63,377 | 1,777,138 | ||||||
| Stellantis NV | 147,978 | 2,600,902 | ||||||
| Tenaris SA | 151,793 | 2,271,385 | ||||||
| Waste Connections, Inc. | 21,476 | 3,069,565 | ||||||
| 95,519,127 | ||||||||
| TOTAL COMMON STOCK (Cost $1,386,244,684) | 1,498,520,633 | |||||||
| PREFERRED STOCK — 0.8% | ||||||||
| Brazil — 0.2% | ||||||||
| Banco Bradesco SA 4.052% | ||||||||
| 772,100 | 2,652,572 | |||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Germany — 0.6% | ||||||||
| Dr Ing hc F Porsche AG 0.888% | ||||||||
| (a) | 37,532 | $ | 4,658,292 | |||||
| Sartorius AG 0.4538% | ||||||||
| 7,676 | 2,632,291 | |||||||
| Volkswagen AG 22.618% | ||||||||
| 15,796 | 2,118,678 | |||||||
| 9,409,261 | ||||||||
| United States — 0.0% | ||||||||
| Canva, Inc., Series A, (Acquired 11/04/21, Cost $39,209) | ||||||||
| (b) (d) (e) (g) | 23 | 16,320 | ||||||
| TOTAL PREFERRED STOCK (Cost $10,523,717) | 12,078,153 | |||||||
| TOTAL EQUITIES (Cost $1,396,768,401) | 1,510,598,786 | |||||||
| RIGHTS — 0.0% | ||||||||
| Russia — 0.0% | ||||||||
| Moscow Exchange (b) (d) (e) | 83,990 | — | ||||||
| Moscow Exchange (b) (d) (e) | 1,181,630 | — | ||||||
| — | ||||||||
| TOTAL RIGHTS (Cost $2,619,126) | — | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,399,387,527) | 1,510,598,786 | |||||||
| SHORT-TERM INVESTMENTS — 2.4% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.7% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (h) | 11,533,155 | 11,533,155 | ||||||
| Principal Amount | ||||||||
| Mutual Fund — 1.6% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | $ | 25,569,338 | 25,569,338 | |||||
| Repurchase Agreement — 0.1% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (i) | 1,094,313 | 1,094,313 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $38,196,806) | 38,196,806 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,437,584,333) (j) | 1,548,795,592 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (427,104) | |||||||
| NET ASSETS — 100.0% | $ | 1,548,368,488 | ||||||
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) | 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 June 30, 2023, the aggregate market value of these securities amounted to $42,089,879 or 2.72% of net assets. |
| (b) | Non-income producing security. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $31,206,532 or 2.02% of net assets. The Fund received $21,051,648 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). |
| (d) | Investment is valued using significant unobservable inputs. |
| (e) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $288,085 or 0.02% of net assets. |
| (f) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (g) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $288,085 or 0.02% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (h) | Represents investment of security lending cash collateral. (Note 2). |
| (i) | Maturity value of $1,094,451. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,116,277. |
| (j) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 20/80 Allocation Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 21.3% | ||||||||
| DFA Commodity Strategy Portfolio | 193,714 | $ | 867,839 | |||||
| Invesco Real Estate Fund, Class R6 | 42,483 | 703,094 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 157,040 | 3,484,723 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 195,728 | 2,192,148 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 287,028 | 4,865,131 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 234,280 | 2,003,096 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 171,185 | 936,382 | ||||||
| MassMutual International Equity Fund, Class I (a) | 151,286 | 1,281,397 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 55,106 | 1,089,454 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 95,945 | 1,067,866 | ||||||
| MassMutual Overseas Fund, Class I (a) | 301,080 | 2,607,350 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 21,076 | 292,951 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 63,681 | 583,319 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 51,063 | 511,651 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,183,717 | 9,019,925 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 179,314 | 2,659,233 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 15,750 | 531,557 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 5,430 | 1,480,515 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 6,178 | 588,837 | ||||||
| 36,766,468 | ||||||||
| Fixed Income Funds — 78.7% | ||||||||
| Invesco International Bond Fund, Class R6 | 1,600,235 | 6,945,019 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 3,107,835 | 28,156,988 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 24,145 | 210,300 | ||||||
| MassMutual High Yield Fund, Class I (a) | 63,568 | 483,115 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 145,350 | 1,356,113 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 1,570,731 | 13,586,821 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 3,872,371 | 34,038,137 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 4,605,911 | 39,288,420 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 8,462 | 179,984 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 1,198,525 | 11,445,911 | ||||||
| 135,690,808 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $190,946,454) | 172,457,276 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $190,946,454) | 172,457,276 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $190,946,454) (b) | 172,457,276 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (62,051) | |||||||
| NET ASSETS — 100.0% | $ | 172,395,225 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 40/60 Allocation Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 41.8% | ||||||||
| DFA Commodity Strategy Portfolio | 201,476 | $ | 902,612 | |||||
| Invesco Real Estate Fund, Class R6 | 86,803 | 1,436,591 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 320,908 | 7,120,941 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 399,948 | 4,479,414 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 586,367 | 9,938,917 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 476,426 | 4,073,441 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 345,635 | 1,890,625 | ||||||
| MassMutual International Equity Fund, Class I (a) | 305,450 | 2,587,162 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 112,641 | 2,226,904 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 196,079 | 2,182,358 | ||||||
| MassMutual Overseas Fund, Class I (a) | 607,468 | 5,260,675 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 43,006 | 597,781 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 129,957 | 1,190,410 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 103,068 | 1,032,744 | ||||||
| MM Equity Asset Fund, Class I (a) | 2,423,290 | 18,465,471 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 372,083 | 5,525,438 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 32,731 | 1,104,673 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 11,282 | 3,076,102 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 12,836 | 1,223,428 | ||||||
| 74,315,687 | ||||||||
| Fixed Income Funds — 58.3% | ||||||||
| Invesco International Bond Fund, Class R6 | 1,227,648 | 5,327,992 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 2,366,295 | 21,438,634 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 18,779 | 163,567 | ||||||
| MassMutual High Yield Fund, Class I (a) | 48,568 | 369,117 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 110,922 | 1,034,907 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 1,199,464 | 10,375,366 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 2,947,685 | 25,910,150 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 3,505,537 | 29,902,227 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 17,301 | 367,995 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 929,757 | 8,879,177 | ||||||
| 103,769,132 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $197,283,119) | 178,084,819 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $197,283,119) | 178,084,819 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $197,283,119) (b) | 178,084,819 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (177,219) | |||||||
| NET ASSETS — 100.0% | $ | 177,907,600 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 60/40 Allocation Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 61.8% | ||||||||
| DFA Commodity Strategy Portfolio | 191,692 | $ | 858,780 | |||||
| Invesco Real Estate Fund, Class R6 | 122,956 | 2,034,914 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 455,289 | 10,102,857 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 569,939 | 6,383,322 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 830,944 | 14,084,505 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 676,672 | 5,785,542 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 491,172 | 2,686,710 | ||||||
| MassMutual International Equity Fund, Class I (a) | 431,595 | 3,655,610 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 159,837 | 3,159,987 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 279,404 | 3,109,764 | ||||||
| MassMutual Overseas Fund, Class I (a) | 860,049 | 7,448,029 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 61,016 | 848,123 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 184,444 | 1,689,508 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 145,997 | 1,462,895 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,437,271 | 26,192,007 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 531,189 | 7,888,153 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 46,747 | 1,577,700 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 16,108 | 4,392,023 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 18,328 | 1,746,878 | ||||||
| 105,107,307 | ||||||||
| Fixed Income Funds — 38.3% | ||||||||
| Invesco International Bond Fund, Class R6 | 775,388 | 3,365,184 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 1,477,189 | 13,383,330 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 11,869 | 103,382 | ||||||
| MassMutual High Yield Fund, Class I (a) | 30,578 | 232,392 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 69,978 | 652,891 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 752,946 | 6,512,986 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,841,167 | 16,183,854 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 2,189,746 | 18,678,531 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 24,438 | 519,789 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 584,679 | 5,583,683 | ||||||
| 65,216,022 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $182,970,606) | 170,323,329 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $182,970,606) | 170,323,329 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $182,970,606) (b) | 170,323,329 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (141,987) | |||||||
| NET ASSETS — 100.0% | $ | 170,181,342 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 80/20 Allocation Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 81.3% | ||||||||
| DFA Commodity Strategy Portfolio | 141,932 | $ | 635,857 | |||||
| Invesco Real Estate Fund, Class R6 | 124,802 | 2,065,480 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 462,953 | 10,272,916 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 575,988 | 6,451,062 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 843,632 | 14,299,557 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 688,030 | 5,882,652 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 497,334 | 2,720,417 | ||||||
| MassMutual International Equity Fund, Class I (a) | 447,477 | 3,790,132 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 162,156 | 3,205,822 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 282,362 | 3,142,689 | ||||||
| MassMutual Overseas Fund, Class I (a) | 892,045 | 7,725,108 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 61,890 | 860,268 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 187,042 | 1,713,305 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 151,357 | 1,516,596 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,500,401 | 26,673,053 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 524,956 | 7,795,595 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 46,189 | 1,558,896 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 15,918 | 4,340,153 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 18,112 | 1,726,225 | ||||||
| 106,375,783 | ||||||||
| Fixed Income Funds — 18.8% | ||||||||
| Invesco International Bond Fund, Class R6 | 294,544 | 1,278,321 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 546,651 | 4,952,659 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 7,521 | 65,511 | ||||||
| MassMutual High Yield Fund, Class I (a) | 8,486 | 64,494 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 26,759 | 249,666 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 282,824 | 2,446,426 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 683,140 | 6,004,799 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 812,319 | 6,929,078 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 24,121 | 513,056 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 210,569 | 2,010,935 | ||||||
| 24,514,945 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $137,147,769) | 130,890,728 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $137,147,769) | 130,890,728 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $137,147,769) (b) | 130,890,728 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (98,654) | |||||||
| NET ASSETS — 100.0% | $ | 130,792,074 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan In Retirement Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.2% | ||||||||
| Equity Funds — 37.4% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 34,454 | $ | 534,384 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 57,544 | 1,070,313 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 69,785 | 1,548,524 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 81,252 | 910,022 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 145,026 | 2,458,197 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 142,959 | 1,222,297 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 85,561 | 468,020 | ||||||
| MassMutual International Equity Fund, Class I (a) | 191,196 | 1,619,427 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 41,454 | 819,544 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 72,368 | 805,455 | ||||||
| MassMutual Overseas Fund, Class I (a) | 330,077 | 2,858,466 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 42,571 | 591,732 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 85,615 | 784,234 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 98,306 | 985,028 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,010,809 | 7,702,368 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 260,084 | 3,857,047 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 2,665 | 726,636 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 5,736 | 679,093 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 6,472 | 616,891 | ||||||
| 30,257,678 | ||||||||
| Fixed Income Funds — 62.8% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 6,877 | 40,920 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 7,936,257 | 7,936,257 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 2,008,754 | 18,199,308 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 4,889 | 42,583 | ||||||
| MassMutual High Yield Fund, Class I (a) | 613,280 | 4,660,929 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 323,559 | 3,018,808 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 696,992 | 6,126,561 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 714,832 | 6,097,514 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 495,609 | 4,733,066 | ||||||
| 50,855,946 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $86,879,323) | 81,113,624 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $86,879,323) | 81,113,624 | |||||||
| TOTAL INVESTMENTS — 100.2% (Cost $86,879,323) (b) | 81,113,624 | |||||||
| Other Assets/(Liabilities) — (0.2)% | (148,826) | |||||||
| NET ASSETS — 100.0% | $ | 80,964,798 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2020 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 37.3% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 63,866 | $ | 990,568 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 107,994 | 2,008,686 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 131,473 | 2,917,376 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 153,068 | 1,714,359 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 272,265 | 4,614,885 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 269,222 | 2,301,845 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 161,310 | 882,368 | ||||||
| MassMutual International Equity Fund, Class I (a) | 353,862 | 2,997,214 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 78,153 | 1,545,078 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 136,340 | 1,517,465 | ||||||
| MassMutual Overseas Fund, Class I (a) | 610,252 | 5,284,781 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 80,191 | 1,114,651 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 161,263 | 1,477,171 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 181,771 | 1,821,347 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,903,191 | 14,502,316 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 506,607 | 7,523,116 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 5,198 | 1,417,203 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 11,188 | 1,324,550 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 12,624 | 1,203,169 | ||||||
| 57,158,148 | ||||||||
| Fixed Income Funds — 62.8% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 12,998 | 77,340 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 14,882,130 | 14,882,130 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 3,780,959 | 34,255,491 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 9,535 | 83,054 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,154,757 | 8,776,152 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 614,299 | 5,731,413 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,311,989 | 11,532,381 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,345,414 | 11,476,380 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 966,616 | 9,231,183 | ||||||
| 96,045,524 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $163,640,486) | 153,203,672 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $163,640,486) | 153,203,672 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $163,640,486) (b) | 153,203,672 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (213,236) | |||||||
| NET ASSETS — 100.0% | $ | 152,990,436 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2025 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 46.2% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 114,493 | $ | 1,775,788 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 125,980 | 2,343,227 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 152,065 | 3,374,315 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 178,372 | 1,997,768 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 317,320 | 5,378,578 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 311,348 | 2,662,028 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 186,369 | 1,019,437 | ||||||
| MassMutual International Equity Fund, Class I (a) | 402,640 | 3,410,362 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 88,301 | 1,745,714 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 154,732 | 1,722,168 | ||||||
| MassMutual Overseas Fund, Class I (a) | 694,880 | 6,017,660 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 90,997 | 1,264,855 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 183,690 | 1,682,599 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 326,161 | 3,268,131 | ||||||
| MM Equity Asset Fund, Class I (a) | 2,200,941 | 16,771,168 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 558,553 | 8,294,505 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 5,796 | 1,580,430 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 12,392 | 1,467,130 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 14,093 | 1,343,249 | ||||||
| 67,119,112 | ||||||||
| Fixed Income Funds — 53.9% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 11,926 | 70,960 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 8,236,034 | 8,236,034 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 3,214,809 | 29,126,168 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 8,611 | 75,002 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,330,879 | 10,114,681 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 370,313 | 3,455,025 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,116,734 | 9,816,093 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,145,298 | 9,769,389 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 808,920 | 7,725,187 | ||||||
| 78,388,539 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $156,101,634) | 145,507,651 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $156,101,634) | 145,507,651 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $156,101,634) (b) | 145,507,651 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (140,625) | |||||||
| NET ASSETS — 100.0% | $ | 145,367,026 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2030 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 59.1% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 367,543 | $ | 5,700,591 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 373,001 | 6,937,826 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 455,858 | 10,115,485 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 528,279 | 5,916,720 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 939,963 | 15,932,368 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 932,902 | 7,976,313 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 557,348 | 3,048,695 | ||||||
| MassMutual International Equity Fund, Class I (a) | 1,206,024 | 10,215,019 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 261,614 | 5,172,116 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 456,780 | 5,083,960 | ||||||
| MassMutual Overseas Fund, Class I (a) | 2,096,824 | 18,158,498 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 269,279 | 3,742,974 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 543,023 | 4,974,088 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 1,047,275 | 10,493,694 | ||||||
| MM Equity Asset Fund, Class I (a) | 6,596,237 | 50,263,323 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 1,628,521 | 24,183,538 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 16,759 | 4,569,453 | ||||||
| Vanguard Real Estate Index Fund, Institutional Shares | 231,366 | 4,238,632 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 40,828 | 3,891,341 | ||||||
| 200,614,634 | ||||||||
| Fixed Income Funds — 41.0% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 28,277 | 168,248 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 11,322,942 | 11,322,942 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 6,259,040 | 56,706,902 | ||||||
| MassMutual High Yield Fund, Class I (a) | 2,280,714 | 17,333,430 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 71,862 | 670,473 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 2,174,085 | 19,110,208 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 2,229,818 | 19,020,348 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 1,537,891 | 14,686,859 | ||||||
| 139,019,410 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $362,962,844) | 339,634,044 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $362,962,844) | 339,634,044 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $362,962,844) (b) | 339,634,044 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (313,081) | |||||||
| NET ASSETS — 100.0% | $ | 339,320,963 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2035 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 71.5% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 388,020 | $ | 6,018,189 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 209,043 | 3,888,201 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 380,403 | 8,441,131 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 295,530 | 3,309,937 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 328,625 | 5,570,195 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 455,224 | 3,892,169 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 516,885 | 2,827,358 | ||||||
| MassMutual International Equity Fund, Class I (a) | 859,022 | 7,275,917 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 145,479 | 2,876,124 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 254,858 | 2,836,569 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,356,877 | 11,750,558 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 149,215 | 2,074,092 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 302,104 | 2,767,270 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 320,606 | 3,212,471 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,673,442 | 27,991,626 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 697,088 | 10,351,751 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 9,154 | 2,495,797 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 19,561 | 2,315,866 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 22,224 | 2,118,130 | ||||||
| 112,013,351 | ||||||||
| Fixed Income Funds — 28.6% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 12,999 | 77,347 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 4,659,787 | 4,659,787 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 861,699 | 7,806,997 | ||||||
| MassMutual High Yield Fund, Class I (a) | 626,384 | 4,760,517 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,457,551 | 12,811,877 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,494,474 | 12,747,863 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 207,448 | 1,981,126 | ||||||
| 44,845,514 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $165,144,290) | 156,858,865 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $165,144,290) | 156,858,865 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $165,144,290) (b) | 156,858,865 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (152,095) | |||||||
| NET ASSETS — 100.0% | $ | 156,706,770 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2040 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 81.3% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 718,912 | $ | 11,150,329 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 394,711 | 7,341,626 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 718,746 | 15,948,983 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 559,055 | 6,261,411 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 620,857 | 10,523,523 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 859,300 | 7,347,019 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 978,271 | 5,351,143 | ||||||
| MassMutual International Equity Fund, Class I (a) | 1,656,941 | 14,034,293 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 277,437 | 5,484,925 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 484,602 | 5,393,625 | ||||||
| MassMutual Overseas Fund, Class I (a) | 2,610,100 | 22,603,467 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 283,264 | 3,937,367 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 571,779 | 5,237,498 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 594,531 | 5,957,202 | ||||||
| MM Equity Asset Fund, Class I (a) | 6,939,844 | 52,881,610 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 1,350,400 | 20,053,443 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 17,428 | 4,752,032 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 37,606 | 4,452,140 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 42,183 | 4,020,506 | ||||||
| 212,732,142 | ||||||||
| Fixed Income Funds — 18.8% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 219,217 | 1,304,340 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 6,446,251 | 6,446,251 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 752,050 | 6,813,577 | ||||||
| MassMutual High Yield Fund, Class I (a) | 957,641 | 7,278,069 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,454,526 | 12,785,282 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,491,884 | 12,725,768 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 181,687 | 1,735,108 | ||||||
| 49,088,395 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $274,078,604) | 261,820,537 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $274,078,604) | 261,820,537 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $274,078,604) (b) | 261,820,537 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (217,223) | |||||||
| NET ASSETS — 100.0% | $ | 261,603,314 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2045 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 89.0% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 369,141 | $ | 5,725,383 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 194,535 | 3,618,350 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 356,753 | 7,916,355 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 275,533 | 3,085,972 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 305,996 | 5,186,632 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 426,611 | 3,647,521 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 483,279 | 2,643,538 | ||||||
| MassMutual International Equity Fund, Class I (a) | 811,947 | 6,877,188 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 136,722 | 2,702,997 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 238,837 | 2,658,254 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,293,327 | 11,200,209 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 139,955 | 1,945,376 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 281,765 | 2,580,969 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 306,057 | 3,066,689 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,443,171 | 26,236,963 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 659,385 | 9,791,874 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 8,591 | 2,342,343 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 18,599 | 2,201,905 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 20,732 | 1,975,983 | ||||||
| 105,404,501 | ||||||||
| Fixed Income Funds — 11.1% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 72,858 | 433,508 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 2,900,807 | 2,900,807 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 180,645 | 1,636,640 | ||||||
| MassMutual High Yield Fund, Class I (a) | 212,508 | 1,615,060 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 349,482 | 3,071,946 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 358,620 | 3,059,027 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 43,252 | 413,058 | ||||||
| 13,130,046 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $123,168,347) | 118,534,547 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $123,168,347) | 118,534,547 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $123,168,347) (b) | 118,534,547 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (123,096) | |||||||
| NET ASSETS — 100.0% | $ | 118,411,451 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2050 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 91.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 641,117 | $ | 9,943,721 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 335,591 | 6,241,984 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 612,935 | 13,601,031 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 475,178 | 5,321,990 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 527,832 | 8,946,759 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 733,714 | 6,273,257 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 832,996 | 4,556,488 | ||||||
| MassMutual International Equity Fund, Class I (a) | 1,406,714 | 11,914,868 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 236,447 | 4,674,567 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 413,060 | 4,597,357 | ||||||
| MassMutual Overseas Fund, Class I (a) | 2,222,599 | 19,247,705 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 242,302 | 3,367,999 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 487,361 | 4,464,228 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 531,013 | 5,320,750 | ||||||
| MM Equity Asset Fund, Class I (a) | 5,918,295 | 45,097,407 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 1,128,612 | 16,759,885 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 14,698 | 4,007,604 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 31,824 | 3,767,611 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 35,596 | 3,392,639 | ||||||
| 181,497,850 | ||||||||
| Fixed Income Funds — 8.3% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 115,509 | 687,277 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 4,852,113 | 4,852,113 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 205,443 | 1,861,309 | ||||||
| MassMutual High Yield Fund, Class I (a) | 217,403 | 1,652,265 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 397,689 | 3,495,689 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 407,925 | 3,479,596 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 48,810 | 466,135 | ||||||
| 16,494,384 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $206,236,593) | 197,992,234 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $206,236,593) | 197,992,234 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $206,236,593) (b) | 197,992,234 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (150,330) | |||||||
| NET ASSETS — 100.0% | $ | 197,841,904 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2055 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 91.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 205,642 | $ | 3,189,513 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 107,834 | 2,005,712 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 197,565 | 4,383,959 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 152,395 | 1,706,822 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 169,613 | 2,874,938 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 236,441 | 2,021,573 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 267,182 | 1,461,483 | ||||||
| MassMutual International Equity Fund, Class I (a) | 450,123 | 3,812,546 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 75,980 | 1,502,127 | ||||||
| MassMutual Mid-Cap Value Fund, Class I (a) | 132,733 | 1,477,314 | ||||||
| MassMutual Overseas Fund, Class I (a) | 717,138 | 6,210,413 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 77,847 | 1,082,076 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 156,592 | 1,434,381 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 169,928 | 1,702,679 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,907,392 | 14,534,329 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 366,196 | 5,438,006 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 4,769 | 1,300,356 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 10,325 | 1,222,416 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 11,550 | 1,100,810 | ||||||
| 58,461,453 | ||||||||
| Fixed Income Funds — 8.3% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 37,132 | 220,934 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 1,560,008 | 1,560,008 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 66,228 | 600,027 | ||||||
| MassMutual High Yield Fund, Class I (a) | 69,883 | 531,112 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 128,204 | 1,126,912 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 131,501 | 1,121,702 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 15,837 | 151,243 | ||||||
| 5,311,938 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $65,509,383) | 63,773,391 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $65,509,383) | 63,773,391 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $65,509,383) (b) | 63,773,391 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (85,032) | |||||||
| NET ASSETS — 100.0% | $ | 63,688,359 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2060 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.3% | ||||||||
| Equity Funds — 91.9% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 72,346 | $ | 1,122,085 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 37,666 | 700,584 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 69,049 | 1,532,200 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 53,231 | 596,192 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 59,242 | 1,004,147 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 82,648 | 706,642 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 93,565 | 511,798 | ||||||
| MassMutual International Equity Fund, Class I (a) | 157,619 | 1,335,035 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 26,536 | 524,620 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 46,361 | 516,003 | ||||||
| MassMutual Overseas Fund, Class I (a) | 250,586 | 2,170,074 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 27,307 | 379,567 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 54,698 | 501,038 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 59,893 | 600,127 | ||||||
| MM Equity Asset Fund, Class I (a) | 666,687 | 5,080,152 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 126,673 | 1,878,554 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 1,647 | 449,182 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 3,568 | 422,380 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 3,990 | 380,265 | ||||||
| 20,410,645 | ||||||||
| Fixed Income Funds — 8.4% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 13,038 | 77,577 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 542,435 | 542,435 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 23,176 | 209,976 | ||||||
| MassMutual High Yield Fund, Class I (a) | 24,434 | 185,698 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 44,863 | 394,350 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 46,019 | 392,540 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 5,471 | 52,253 | ||||||
| 1,854,829 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $22,256,504) | 22,265,474 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $22,256,504) | 22,265,474 | |||||||
| TOTAL INVESTMENTS — 100.3% (Cost $22,256,504) (b) | 22,265,474 | |||||||
| Other Assets/(Liabilities) — (0.3)% | (56,793) | |||||||
| NET ASSETS — 100.0% | $ | 22,208,681 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2065 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 103.1% | ||||||||
| Equity Funds — 94.5% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 3,485 | $ | 54,050 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 1,816 | 33,783 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 3,307 | 73,372 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 2,567 | 28,747 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 2,857 | 48,420 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 3,959 | 33,847 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 4,498 | 24,606 | ||||||
| MassMutual International Equity Fund, Class I (a) | 7,629 | 64,615 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 1,279 | 25,294 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 2,235 | 24,881 | ||||||
| MassMutual Overseas Fund, Class I (a) | 12,021 | 104,099 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 1,311 | 18,227 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 2,637 | 24,158 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 2,881 | 28,868 | ||||||
| MM Equity Asset Fund, Class I (a) | 31,931 | 243,312 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 6,006 | 89,065 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 78 | 21,297 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 169 | 20,024 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 189 | 18,029 | ||||||
| 978,694 | ||||||||
| Fixed Income Funds — 8.6% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 624 | 3,715 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 26,232 | 26,232 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 1,107 | 10,029 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,175 | 8,930 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 2,143 | 18,836 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 2,198 | 18,750 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 259 | 2,477 | ||||||
| 88,969 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,032,537) | 1,067,663 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,032,537) | 1,067,663 | |||||||
| TOTAL INVESTMENTS — 103.1% (Cost $1,032,537) (b) | 1,067,663 | |||||||
| Other Assets/(Liabilities) — (3.1)% | (31,643) | |||||||
| NET ASSETS — 100.0% | $ | 1,036,020 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MM Equity Asset Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.8% | ||||||||
| COMMON STOCK — 98.8% | ||||||||
| Basic Materials — 2.4% | ||||||||
| Chemicals — 2.1% | ||||||||
| Air Products & Chemicals, Inc. | 3,582 | $ | 1,072,917 | |||||
| Dow, Inc. | 23,308 | 1,241,384 | ||||||
| Eastman Chemical Co. | 10,494 | 878,558 | ||||||
| Linde PLC | 6,180 | 2,355,074 | ||||||
| LyondellBasell Industries NV Class A | 6,904 | 633,994 | ||||||
| PPG Industries, Inc. | 6,664 | 988,271 | ||||||
| 7,170,198 | ||||||||
| Iron & Steel — 0.2% | ||||||||
| Nucor Corp. | 3,325 | 545,234 | ||||||
| Mining — 0.1% | ||||||||
| Freeport-McMoRan, Inc. | 12,647 | 505,880 | ||||||
| 8,221,312 | ||||||||
| Communications — 12.7% | ||||||||
| Internet — 10.8% | ||||||||
| Alphabet, Inc. Class A (a) | 54,109 | 6,476,847 | ||||||
| Alphabet, Inc. Class C (a) | 45,727 | 5,531,595 | ||||||
| Amazon.com, Inc. (a) | 94,894 | 12,370,382 | ||||||
| Booking Holdings, Inc. (a) | 760 | 2,052,251 | ||||||
| Expedia Group, Inc. (a) | 9,345 | 1,022,250 | ||||||
| Meta Platforms, Inc. Class A (a) | 23,423 | 6,721,932 | ||||||
| Netflix, Inc. (a) | 5,338 | 2,351,336 | ||||||
| Uber Technologies, Inc. (a) | 12,377 | 534,315 | ||||||
| 37,060,908 | ||||||||
| Media — 1.2% | ||||||||
| Charter Communications, Inc. Class A (a) | 4,485 | 1,647,655 | ||||||
| Comcast Corp. Class A | 59,946 | 2,490,756 | ||||||
| 4,138,411 | ||||||||
| Telecommunications — 0.7% | ||||||||
| AT&T, Inc. | 15,937 | 254,195 | ||||||
| Corning, Inc. | 11,494 | 402,750 | ||||||
| Motorola Solutions, Inc. | 2,588 | 759,009 | ||||||
| T-Mobile U.S., Inc. (a) | 6,136 | 852,290 | ||||||
| 2,268,244 | ||||||||
| 43,467,563 | ||||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Consumer, Cyclical — 8.9% | ||||||||
| Airlines — 0.3% | ||||||||
| Delta Air Lines, Inc. (a) | 5,929 | $ | 281,865 | |||||
| Southwest Airlines Co. | 16,078 | 582,184 | ||||||
| 864,049 | ||||||||
| Apparel — 0.5% | ||||||||
| NIKE, Inc. Class B | 14,430 | 1,592,639 | ||||||
| Auto Manufacturers — 1.7% | ||||||||
| Tesla, Inc. (a) | 22,521 | 5,895,322 | ||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| Aptiv PLC (a) | 7,290 | 744,236 | ||||||
| Distribution & Wholesale — 0.1% | ||||||||
| LKQ Corp. | 5,591 | 325,788 | ||||||
| Home Builders — 0.2% | ||||||||
| Lennar Corp. Class A | 2,540 | 318,287 | ||||||
| Toll Brothers, Inc. | 5,501 | 434,964 | ||||||
| 753,251 | ||||||||
| Home Furnishing — 0.1% | ||||||||
| Whirlpool Corp. | 1,349 | 200,718 | ||||||
| Leisure Time — 0.1% | ||||||||
| Royal Caribbean Cruises Ltd. (a) | 1,905 | 197,625 | ||||||
| Lodging — 0.3% | ||||||||
| Marriott International, Inc. Class A | 5,938 | 1,090,751 | ||||||
| Retail — 5.4% | ||||||||
| AutoNation, Inc. (a) | 3,893 | 640,827 | ||||||
| AutoZone, Inc. (a) | 703 | 1,752,832 | ||||||
| Best Buy Co., Inc. | 13,194 | 1,081,248 | ||||||
| Burlington Stores, Inc. (a) | 2,715 | 427,314 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 1,090 | 2,331,510 | ||||||
| Costco Wholesale Corp. | 6,403 | 3,447,247 | ||||||
| Domino's Pizza, Inc. | 1,164 | 392,256 | ||||||
| Home Depot, Inc. | 1,179 | 366,245 | ||||||
| Lowe's Cos., Inc. | 15,681 | 3,539,202 | ||||||
| McDonald's Corp. | 3,978 | 1,187,075 | ||||||
| O'Reilly Automotive, Inc. (a) | 565 | 539,745 | ||||||
| TJX Cos., Inc. | 13,620 | 1,154,840 | ||||||
| Ulta Beauty, Inc. (a) | 350 | 164,708 | ||||||
| Yum! Brands, Inc. | 11,066 | 1,533,194 | ||||||
| 18,558,243 | ||||||||
| 30,222,622 | ||||||||
| Consumer, Non-cyclical — 18.9% | ||||||||
| Agriculture — 0.4% | ||||||||
| Altria Group, Inc. | 11,186 | 506,726 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Philip Morris International, Inc. | 10,015 | $ | 977,664 | |||||
| 1,484,390 | ||||||||
| Beverages — 2.5% | ||||||||
| Coca-Cola Co. | 61,820 | 3,722,800 | ||||||
| Constellation Brands, Inc. Class A | 4,489 | 1,104,878 | ||||||
| Monster Beverage Corp. (a) | 7,019 | 403,171 | ||||||
| PepsiCo, Inc. | 17,364 | 3,216,160 | ||||||
| 8,447,009 | ||||||||
| Biotechnology — 1.6% | ||||||||
| Biogen, Inc. (a) | 3,677 | 1,047,394 | ||||||
| BioMarin Pharmaceutical, Inc. (a) | 2,794 | 242,184 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 2,508 | 1,802,098 | ||||||
| Sarepta Therapeutics, Inc. (a) | 2,840 | 325,237 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 5,808 | 2,043,893 | ||||||
| 5,460,806 | ||||||||
| Commercial Services — 1.1% | ||||||||
| Booz Allen Hamilton Holding Corp. | 2,676 | 298,641 | ||||||
| Cintas Corp. | 1,440 | 715,795 | ||||||
| FleetCor Technologies, Inc. (a) | 4,884 | 1,226,275 | ||||||
| S&P Global, Inc. | 4,212 | 1,688,549 | ||||||
| 3,929,260 | ||||||||
| Cosmetics & Personal Care — 1.2% | ||||||||
| Colgate-Palmolive Co. | 19,948 | 1,536,794 | ||||||
| Kenvue, Inc. (a) | 3,332 | 88,031 | ||||||
| Procter & Gamble Co. | 15,698 | 2,382,015 | ||||||
| 4,006,840 | ||||||||
| Food — 0.3% | ||||||||
| Mondelez International, Inc. Class A | 16,866 | 1,230,206 | ||||||
| Health Care – Products — 3.9% | ||||||||
| Abbott Laboratories | 17,564 | 1,914,827 | ||||||
| Baxter International, Inc. | 20,941 | 954,072 | ||||||
| Boston Scientific Corp. (a) | 30,489 | 1,649,150 | ||||||
| Danaher Corp. | 6,646 | 1,595,040 | ||||||
| Intuitive Surgical, Inc. (a) | 4,921 | 1,682,687 | ||||||
| Medtronic PLC | 12,916 | 1,137,900 | ||||||
| ResMed, Inc. | 1,253 | 273,780 | ||||||
| Stryker Corp. | 2,244 | 684,622 | ||||||
| Thermo Fisher Scientific, Inc. | 6,344 | 3,309,982 | ||||||
| 13,202,060 | ||||||||
| Health Care – Services — 2.5% | ||||||||
| Centene Corp. (a) | 14,157 | 954,890 | ||||||
| Elevance Health, Inc. | 3,414 | 1,516,806 | ||||||
| Humana, Inc. | 1,860 | 831,662 | ||||||
| Town Health International Medical Group Ltd. | 62,000 | 2,570 | ||||||
| UnitedHealth Group, Inc. | 11,053 | 5,312,514 | ||||||
| 8,618,442 | ||||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Household Products & Wares — 0.2% | ||||||||
| Church & Dwight Co., Inc. | 6,132 | $ | 614,610 | |||||
| Pharmaceuticals — 5.2% | ||||||||
| AbbVie, Inc. | 28,562 | 3,848,158 | ||||||
| Bristol-Myers Squibb Co. | 44,744 | 2,861,379 | ||||||
| CVS Health Corp. | 6,788 | 469,255 | ||||||
| Dexcom, Inc. (a) | 3,515 | 451,713 | ||||||
| Eli Lilly & Co. | 6,787 | 3,182,967 | ||||||
| Johnson & Johnson | 23,662 | 3,916,534 | ||||||
| McKesson Corp. | 1,658 | 708,480 | ||||||
| Merck & Co., Inc. | 18,300 | 2,111,637 | ||||||
| Neurocrine Biosciences, Inc. (a) | 1,946 | 183,508 | ||||||
| 17,733,631 | ||||||||
| 64,727,254 | ||||||||
| Energy — 4.1% | ||||||||
| Oil & Gas — 3.9% | ||||||||
| Chevron Corp. | 10,190 | 1,603,397 | ||||||
| ConocoPhillips | 25,804 | 2,673,553 | ||||||
| Diamondback Energy, Inc. | 13,015 | 1,709,650 | ||||||
| EOG Resources, Inc. | 19,023 | 2,176,992 | ||||||
| Exxon Mobil Corp. | 43,781 | 4,695,512 | ||||||
| Marathon Oil Corp. | 26,568 | 611,595 | ||||||
| 13,470,699 | ||||||||
| Oil & Gas Services — 0.2% | ||||||||
| Baker Hughes Co. | 15,986 | 505,317 | ||||||
| 13,976,016 | ||||||||
| Financial — 14.0% | ||||||||
| Banks — 4.1% | ||||||||
| Bank of America Corp. | 127,405 | 3,655,249 | ||||||
| Citigroup, Inc. | 21,083 | 970,661 | ||||||
| Fifth Third Bancorp | 30,902 | 809,941 | ||||||
| Morgan Stanley | 18,794 | 1,605,008 | ||||||
| State Street Corp. | 6,947 | 508,382 | ||||||
| Truist Financial Corp. | 50,946 | 1,546,211 | ||||||
| U.S. Bancorp | 53,102 | 1,754,490 | ||||||
| Wells Fargo & Co. | 72,035 | 3,074,454 | ||||||
| 13,924,396 | ||||||||
| Diversified Financial Services — 4.4% | ||||||||
| American Express Co. | 4,851 | 845,044 | ||||||
| Charles Schwab Corp. | 6,308 | 357,537 | ||||||
| CME Group, Inc. | 11,331 | 2,099,521 | ||||||
| Intercontinental Exchange, Inc. | 12,968 | 1,466,421 | ||||||
| Mastercard, Inc. Class A | 13,456 | 5,292,245 | ||||||
| Raymond James Financial, Inc. | 11,315 | 1,174,158 | ||||||
| Visa, Inc. Class A | 16,078 | 3,818,204 | ||||||
| 15,053,130 | ||||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Insurance — 3.3% | ||||||||
| Aflac, Inc. | 7,711 | $ | 538,228 | |||||
| Berkshire Hathaway, Inc. Class B (a) | 14,164 | 4,829,924 | ||||||
| Globe Life, Inc. | 8,866 | 971,891 | ||||||
| MetLife, Inc. | 3,011 | 170,212 | ||||||
| Progressive Corp. | 20,276 | 2,683,934 | ||||||
| Travelers Cos., Inc. | 11,138 | 1,934,225 | ||||||
| 11,128,414 | ||||||||
| Real Estate Investment Trusts (REITS) — 2.2% | ||||||||
| Equinix, Inc. | 1,214 | 951,703 | ||||||
| Equity LifeStyle Properties, Inc. | 9,116 | 609,769 | ||||||
| Prologis, Inc. | 18,300 | 2,244,129 | ||||||
| SBA Communications Corp. | 5,066 | 1,174,096 | ||||||
| Sun Communities, Inc. | 5,807 | 757,581 | ||||||
| UDR, Inc. | 17,960 | 771,562 | ||||||
| Ventas, Inc. | 24,738 | 1,169,365 | ||||||
| 7,678,205 | ||||||||
| 47,784,145 | ||||||||
| Industrial — 7.9% | ||||||||
| Aerospace & Defense — 0.9% | ||||||||
| Howmet Aerospace, Inc. | 6,968 | 345,334 | ||||||
| Raytheon Technologies Corp. | 28,964 | 2,837,313 | ||||||
| 3,182,647 | ||||||||
| Building Materials — 0.9% | ||||||||
| Masco Corp. | 14,100 | 809,058 | ||||||
| Trane Technologies PLC | 11,282 | 2,157,795 | ||||||
| 2,966,853 | ||||||||
| Electronics — 1.3% | ||||||||
| Honeywell International, Inc. | 18,746 | 3,889,795 | ||||||
| Keysight Technologies, Inc. (a) | 2,244 | 375,758 | ||||||
| 4,265,553 | ||||||||
| Machinery – Diversified — 1.3% | ||||||||
| Deere & Co. | 6,113 | 2,476,927 | ||||||
| Dover Corp. | 5,479 | 808,974 | ||||||
| Otis Worldwide Corp. | 14,719 | 1,310,138 | ||||||
| 4,596,039 | ||||||||
| Miscellaneous - Manufacturing — 1.6% | ||||||||
| Eaton Corp. PLC | 11,538 | 2,320,292 | ||||||
| Parker-Hannifin Corp. | 4,852 | 1,892,474 | ||||||
| Textron, Inc. | 17,938 | 1,213,147 | ||||||
| 5,425,913 | ||||||||
| Transportation — 1.9% | ||||||||
| CSX Corp. | 21,633 | 737,685 | ||||||
| FedEx Corp. | 3,970 | 984,163 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Norfolk Southern Corp. | 4,048 | $ | 917,924 | |||||
| Union Pacific Corp. | 5,104 | 1,044,381 | ||||||
| United Parcel Service, Inc. Class B | 16,406 | 2,940,776 | ||||||
| 6,624,929 | ||||||||
| 27,061,934 | ||||||||
| Technology — 27.3% | ||||||||
| Computers — 9.4% | ||||||||
| Accenture PLC Class A | 9,155 | 2,825,050 | ||||||
| Apple, Inc. | 135,395 | 26,262,568 | ||||||
| Cognizant Technology Solutions Corp. Class A | 19,587 | 1,278,639 | ||||||
| Leidos Holdings, Inc. | 7,828 | 692,621 | ||||||
| Seagate Technology Holdings PLC | 17,096 | 1,057,730 | ||||||
| 32,116,608 | ||||||||
| Semiconductors — 7.9% | ||||||||
| Advanced Micro Devices, Inc. (a) | 25,528 | 2,907,895 | ||||||
| Analog Devices, Inc. | 15,494 | 3,018,386 | ||||||
| Broadcom, Inc. | 667 | 578,576 | ||||||
| Lam Research Corp. | 4,468 | 2,872,298 | ||||||
| NVIDIA Corp. | 22,309 | 9,437,153 | ||||||
| NXP Semiconductor NV | 14,428 | 2,953,123 | ||||||
| Qorvo, Inc. (a) | 6,275 | 640,238 | ||||||
| Teradyne, Inc. | 7,638 | 850,339 | ||||||
| Texas Instruments, Inc. | 20,339 | 3,661,427 | ||||||
| 26,919,435 | ||||||||
| Software — 10.0% | ||||||||
| Adobe, Inc. (a) | 8,038 | 3,930,502 | ||||||
| Cadence Design Systems, Inc. (a) | 2,785 | 653,138 | ||||||
| DocuSign, Inc. (a) | 2,462 | 125,784 | ||||||
| Intuit, Inc. | 4,480 | 2,052,691 | ||||||
| Microsoft Corp. | 71,618 | 24,388,794 | ||||||
| Oracle Corp. | 13,133 | 1,564,009 | ||||||
| Salesforce, Inc. (a) | 5,701 | 1,204,393 | ||||||
| ServiceNow, Inc. (a) | 902 | 506,897 | ||||||
| 34,426,208 | ||||||||
| 93,462,251 | ||||||||
| Utilities — 2.6% | ||||||||
| Electric — 2.6% | ||||||||
| Ameren Corp. | 8,968 | 732,417 | ||||||
| CenterPoint Energy, Inc. | 26,969 | 786,146 | ||||||
| CMS Energy Corp. | 6,472 | 380,230 | ||||||
| Dominion Energy, Inc. | 11,261 | 583,207 | ||||||
| NextEra Energy, Inc. | 39,097 | 2,900,997 | ||||||
| PG&E Corp. (a) | 84,732 | 1,464,169 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Public Service Enterprise Group, Inc. | 32,083 | $ | 2,008,717 | |||||
| 8,855,883 | ||||||||
| TOTAL COMMON STOCK (Cost $263,206,741) | 337,778,980 | |||||||
| TOTAL EQUITIES (Cost $263,206,741) | 337,778,980 | |||||||
| RIGHTS — 0.0% | ||||||||
| Consumer, Non-cyclical — 0.0% | ||||||||
| Biotechnology — 0.0% | ||||||||
| Tobira Therapeutics Inc.,CVR (a) (b) (c) | 505 | — | ||||||
| TOTAL RIGHTS (Cost $30) | — | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $263,206,771) | 337,778,980 | |||||||
| Principal Amount | ||||||||
| SHORT-TERM INVESTMENTS — 1.0% | ||||||||
| Repurchase Agreement — 1.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (d) | $ | 3,341,964 | 3,341,964 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,341,964) | 3,341,964 | |||||||
| TOTAL INVESTMENTS — 99.8% (Cost $266,548,735) (e) | 341,120,944 | |||||||
| Other Assets/(Liabilities) — 0.2% | 731,857 | |||||||
| NET ASSETS — 100.0% | $ | 341,852,801 | ||||||
Abbreviation Legend
| CVR | Contingent Value Rights |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Investment is valued using significant unobservable inputs. |
| (c) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $0 or 0.00% of net assets. |
| (d) | Maturity value of $3,342,387. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $3,408,859. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| S&P 500 E Mini Index | 9/15/23 | 16 | $ | 3,517,084 | $ | 73,516 | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 95.5% | ||||||||
| BANK LOANS — 0.9% | ||||||||
| Advertising — 0.1% | ||||||||
| Lamar Media Corp., 2020 Term Loan B, 1 mo. USD LIBOR + 1.500% | ||||||||
| 6.689% VRN 2/05/27 | $ | 305,000 | $ | 298,137 | ||||
| Aerospace & Defense — 0.0% | ||||||||
| TransDigm, Inc., 2022 Term Loan H, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.492% VRN 2/22/27 | 118,595 | 118,595 | ||||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc., 2021 Term Loan, 3 mo. USD LIBOR + 4.750% | ||||||||
| 10.000% VRN 4/20/28 | 85,000 | 86,700 | ||||||
| Mileage Plus Holdings LLC, 2020 Term Loan B, 3 mo. USD LIBOR + 5.250% | ||||||||
| 10.764% VRN 6/21/27 | 82,526 | 85,638 | ||||||
| 172,338 | ||||||||
| Cosmetics & Personal Care — 0.0% | ||||||||
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 9.092% VRN 10/01/26 | 113,539 | 112,787 | ||||||
| Entertainment — 0.1% | ||||||||
| Formula One Holdings Ltd., Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.102% VRN 1/15/30 | 240,000 | 239,880 | ||||||
| UFC Holdings LLC, 2021 Term Loan B, 3 mo. USD LIBOR + 2.750% | ||||||||
| 8.050% VRN 4/29/26 | 266,800 | 266,317 | ||||||
| 506,197 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Filtration Group Corp., 2023 USD Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.326% VRN 10/21/28 | 394,303 | 393,810 | ||||||
| Madison IAQ LLC, Term Loan, 6 mo. USD LIBOR + 3.250% | ||||||||
| 8.302% VRN 6/21/28 | 27,548 | 26,949 | ||||||
| 420,759 | ||||||||
| Health Care – Products — 0.0% | ||||||||
| Maravai Intermediate Holdings LLC, 2022 Term Loan B, 3 mo. USD Term SOFR + 3.000% | ||||||||
| 8.028% VRN 10/19/27 | 84,316 | 84,211 | ||||||
| Insurance — 0.2% | ||||||||
| Acrisure LLC, 2022 Incremental Term Loan, 3 mo. USD Term SOFR + 5.750% | ||||||||
| 10.823% VRN 2/15/27 | 69,650 | 69,824 | ||||||
| Asurion LLC | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2023 Term Loan B11, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.452% VRN 8/19/28 | $ | 170,184 | $ | 161,569 | ||||
| 2021 2nd Lien Term Loan B3, 1 mo. USD Term LIBOR + 5.250%, 1 mo. USD Term SOFR + 5.250% | ||||||||
| 10.452% VRN 1/31/28 | 25,000 | 21,203 | ||||||
| 2021 Second Lien Term Loan B4, 1 mo. USD LIBOR + 5.250%, 1 mo. USD Term SOFR + 5.200 | ||||||||
| 10.452% VRN 1/20/29 | 255,000 | 213,244 | ||||||
| Hub International Ltd. | ||||||||
| 2022 Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.059% VRN 11/10/29 | 24,875 | 24,837 | ||||||
| 2023 Term Loan B, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.341% VRN 6/20/30 | 403,021 | 403,751 | ||||||
| 894,428 | ||||||||
| Internet — 0.0% | ||||||||
| NortonLifeLock, Inc., 2021 Term Loan A, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 6.952% VRN 9/10/27 | 126,750 | 123,820 | ||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Brookfield WEC Holdings, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 2.750% | ||||||||
| 7.943% VRN 8/01/25 | 90,609 | 90,357 | ||||||
| Packaging & Containers — 0.0% | ||||||||
| Charter NEX U.S., Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.967% VRN 12/01/27 | 206,323 | 204,518 | ||||||
| Pharmaceuticals — 0.1% | ||||||||
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.342% VRN 10/01/27 | 139,923 | 137,650 | ||||||
| PetVet Care Centers LLC, 2021 Term Loan B3, 1 mo. USD LIBOR + 3.500% | ||||||||
| 8.693% VRN 2/14/25 | 103,999 | 101,633 | ||||||
| 239,283 | ||||||||
| Retail — 0.0% | ||||||||
| WOOF Holdings, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 8.954% VRN 12/21/27 | 125,809 | 122,978 | ||||||
| Software — 0.3% | ||||||||
| Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.500% | ||||||||
| 9.742% VRN 9/18/26 | 481,022 | 481,474 | ||||||
| Ascend Learning LLC, 2021 Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.702% VRN 12/11/28 | 97,372 | 91,332 | ||||||
| Athenahealth Group, Inc., 2021 Delayed Draw Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.589% VRN 2/15/29 | 97,091 | 93,329 | ||||||
| Epicor Software Corp., 2020 Term Loan, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.467% VRN 7/30/27 | 99,390 | 98,036 | ||||||
| RealPage, Inc., 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.000% | ||||||||
| 8.217% VRN 4/24/28 | 86,024 | 84,067 | ||||||
| Ultimate Software Group, Inc. | ||||||||
| 2021 Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.271% VRN 5/04/26 | 615,020 | 602,910 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2021 2nd Lien Term Loan, 3 mo. USD Term SOFR + 5.250% | ||||||||
| 10.271% VRN 5/03/27 | $ | 140,000 | $ | 135,400 | ||||
| 1,586,548 | ||||||||
| TOTAL BANK LOANS (Cost $5,060,854) | 4,974,956 | |||||||
| CORPORATE DEBT — 23.0% | ||||||||
| Advertising — 0.0% | ||||||||
| Lamar Media Corp. | ||||||||
| 4.875% 1/15/29 | 80,000 | 74,400 | ||||||
| Aerospace & Defense — 0.0% | ||||||||
| TransDigm, Inc. | ||||||||
| 6.750% 8/15/28 (a) | 85,000 | 85,322 | ||||||
| Agriculture — 0.1% | ||||||||
| BAT International Finance PLC | ||||||||
| 1.668% 3/25/26 | 90,000 | 80,916 | ||||||
| Darling Ingredients, Inc. | ||||||||
| 6.000% 6/15/30 (a) | 55,000 | 53,716 | ||||||
| Philip Morris International, Inc. | ||||||||
| 5.125% 2/15/30 | 280,000 | 276,848 | ||||||
| Reynolds American, Inc. | ||||||||
| 4.450% 6/12/25 | 84,000 | 81,626 | ||||||
| 493,106 | ||||||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc. | ||||||||
| 11.750% 7/15/25 (a) | 50,000 | 54,826 | ||||||
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. | ||||||||
| 5.500% 4/20/26 (a) | 105,000 | 104,022 | ||||||
| 5.750% 4/20/29 (a) | 70,000 | 67,969 | ||||||
| 226,817 | ||||||||
| Apparel — 0.1% | ||||||||
| VF Corp. | ||||||||
| 4.125% 3/07/26 EUR (b) | 112,000 | 121,040 | ||||||
| 4.250% 3/07/29 EUR (b) | 115,000 | 123,399 | ||||||
| Wolverine World Wide, Inc. | ||||||||
| 4.000% 8/15/29 (a) (c) | 90,000 | 71,662 | ||||||
| 316,101 | ||||||||
| Auto Manufacturers — 0.7% | ||||||||
| American Honda Finance Corp. | ||||||||
| 0.750% 11/25/26 GBP (b) | 130,000 | 137,989 | ||||||
| 1.950% 10/18/24 EUR (b) | 200,000 | 212,518 | ||||||
| Daimler Truck Finance North America LLC | ||||||||
| 5.125% 1/19/28 (a) (c) | 150,000 | 148,647 | ||||||
| Ford Motor Co. | ||||||||
| 6.100% 8/19/32 (c) | 105,000 | 101,761 | ||||||
| 9.625% 4/22/30 | 85,000 | 98,878 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 4.867% 8/03/27 EUR (b) | 171,000 | 182,901 | ||||||
| 4.950% 5/28/27 | 265,000 | 249,971 | ||||||
| 6.950% 3/06/26 | 200,000 | 201,060 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.350% 11/04/27 | $ | 200,000 | $ | 204,224 | ||||
| General Motors Financial Co., Inc. | ||||||||
| 0.850% 2/26/26 EUR (a) (b) | 150,000 | 149,056 | ||||||
| 0.955% 9/07/23 EUR (a) (b) | 110,000 | 119,355 | ||||||
| 4.000% 10/06/26 | 150,000 | 142,247 | ||||||
| Hyundai Capital America | ||||||||
| 1.800% 10/15/25 (a) | 300,000 | 273,656 | ||||||
| 5.500% 3/30/26 (a) | 135,000 | 133,781 | ||||||
| Nissan Motor Acceptance Co. LLC | ||||||||
| 1.850% 9/16/26 (a) | 160,000 | 135,738 | ||||||
| Volkswagen Group of America Finance LLC | ||||||||
| 3.200% 9/26/26 (a) | 1,320,000 | 1,227,389 | ||||||
| Volkswagen Leasing GmbH | ||||||||
| 1.500% 6/19/26 EUR (a) (b) | 145,000 | 145,685 | ||||||
| 1.625% 8/15/25 EUR (a) (b) | 150,000 | 154,612 | ||||||
| 4,019,468 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Clarios Global LP/Clarios U.S. Finance Co. | ||||||||
| 6.750% 5/15/28 (a) (c) | 163,000 | 162,430 | ||||||
| Continental AG | ||||||||
| 0.000% 9/12/23 EUR (a) (b) | 45,000 | 48,708 | ||||||
| Dana Financing Luxembourg Sarl | ||||||||
| 8.500% 7/15/31 EUR (a) (b) | 100,000 | 112,557 | ||||||
| Goodyear Tire & Rubber Co. | ||||||||
| 5.000% 7/15/29 (c) | 140,000 | 126,243 | ||||||
| ZF North America Capital, Inc. | ||||||||
| 6.875% 4/14/28 (a) | 150,000 | 151,903 | ||||||
| 7.125% 4/14/30 (a) | 150,000 | 152,558 | ||||||
| 754,399 | ||||||||
| Banks — 7.7% | ||||||||
| ABN AMRO Bank NV | ||||||||
| 2.500% 11/29/23 EUR (a) (b) | 114,000 | 123,726 | ||||||
| Banca Transilvania SA 1 yr. EURIBOR ICE Swap + 5.580% | ||||||||
| 8.875% VRN 4/27/27 EUR (a) (b) | 210,000 | 234,922 | ||||||
| Banco Bilbao Vizcaya Argentaria SA | ||||||||
| 3.375% 9/20/27 EUR (a) (b) | 200,000 | 211,333 | ||||||
| 1 yr. CMT + 2.300% 5.862% VRN 9/14/26 | 400,000 | 394,520 | ||||||
| Banco Comercial Portugues SA | ||||||||
| 3 mo. EUR EURIBOR + 1.550% 1.125% VRN 2/12/27 EUR (a) (b) | 200,000 | 190,611 | ||||||
| 3 mo. EUR EURIBOR + 2.000% 1.750% VRN 4/07/28 EUR (a) (b) | 200,000 | 184,544 | ||||||
| Banco de Bogota SA | ||||||||
| 6.250% 5/12/26 (a) | 250,000 | 241,440 | ||||||
| Banco de Credito del Peru SA 5 yr. CMT + 3.000% | ||||||||
| 3.125% VRN 7/01/30 (a) | 200,000 | 183,590 | ||||||
| Banco de Sabadell SA | ||||||||
| 1 yr. EURIBOR ICE Swap + 1.150% 0.875% VRN 6/16/28 EUR (a) (b) | 200,000 | 182,849 | ||||||
| 1 yr. EUR Swap + 2.250% 5.125% VRN 11/10/28 EUR (a) (b) | 100,000 | 109,849 | ||||||
| Banco Santander SA | ||||||||
| 1.125% 1/17/25 EUR (a) (b) | 200,000 | 207,622 | ||||||
| 2.746% 5/28/25 | 1,200,000 | 1,126,555 | ||||||
| Bangkok Bank PCL 5 yr. CMT + 1.900% | ||||||||
| 3.733% VRN 9/25/34 (a) | 250,000 | 211,923 | ||||||
| Bank Hapoalim BM Update Replacements.xls: H15T5Y + 2.155% | ||||||||
| 3.255% VRN 1/21/32 (a) | 200,000 | 171,303 | ||||||
| Bank of America Corp. | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 0.750% 7/26/23 EUR (a) (b) | $ | 110,000 | $ | 119,809 | ||||
| 3 mo. EUR EURIBOR + .890% 1.662% VRN 4/25/28 EUR (a) (b) | 125,000 | 122,469 | ||||||
| SOFR + .960% 1.734% VRN 7/22/27 | 585,000 | 522,267 | ||||||
| SOFR + 1.530% 1.898% VRN 7/23/31 | 1,145,000 | 911,822 | ||||||
| SOFR + 1.220% 2.299% VRN 7/21/32 | 425,000 | 339,901 | ||||||
| 2.375% 6/19/24 EUR (a) (b) | 150,000 | 160,970 | ||||||
| 2.375% 6/19/24 EUR (a) (b) | 150,000 | 160,970 | ||||||
| 3 mo. USD Term SOFR + 1.252% 2.496% VRN 2/13/31 | 1,735,000 | 1,452,596 | ||||||
| SOFR + 2.150% 2.592% VRN 4/29/31 | 585,000 | 491,129 | ||||||
| 3 mo. USD Term SOFR + 1.302% 3.419% VRN 12/20/28 | 55,000 | 50,436 | ||||||
| 3 mo. USD Term SOFR + 1.322% 3.559% VRN 4/23/27 | 465,000 | 440,853 | ||||||
| 4.250% 10/22/26 | 302,000 | 291,489 | ||||||
| Bank of Ireland Group PLC 1 yr. CMT + 2.650% | ||||||||
| 6.253% VRN 9/16/26 (a) | 355,000 | 352,203 | ||||||
| Banque Federative du Credit Mutuel SA | ||||||||
| 1.250% 5/26/27 EUR (a) (b) | 100,000 | 97,820 | ||||||
| 1.375% 7/16/28 EUR (a) (b) | 100,000 | 95,689 | ||||||
| 5.125% 1/13/33 EUR (a) (b) | 200,000 | 214,081 | ||||||
| Barclays PLC | ||||||||
| 1 yr. EUR Swap + 1.260% 0.577% VRN 8/09/29 EUR (a) (b) | 215,000 | 187,691 | ||||||
| 1 yr. EURIBOR ICE Swap + .850% 0.877% VRN 1/28/28 EUR (a) (b) | 100,000 | 94,610 | ||||||
| 1 yr. CMT + 2.650% 5.501% VRN 8/09/28 | 225,000 | 219,418 | ||||||
| SOFR + 2.980% 6.224% VRN 5/09/34 | 305,000 | 303,791 | ||||||
| 1 yr. U.K. Government Bond + 2.800% 6.369% VRN 1/31/31 GBP (a) (b) | 125,000 | 151,846 | ||||||
| BBVA Bancomer SA 5 yr. CMT + 2.650% | ||||||||
| 5.125% VRN 1/18/33 (a) | 300,000 | 260,321 | ||||||
| BNP Paribas SA | ||||||||
| 3 mo. EUR EURIBOR + 1.800% 2.125% VRN 1/23/27 EUR (a) (b) | 200,000 | 204,376 | ||||||
| 2.875% 9/26/23 EUR (a) (b) | 153,000 | 166,551 | ||||||
| BPCE SA | ||||||||
| 0.250% 1/14/31 EUR (a) (b) | 200,000 | 164,137 | ||||||
| 0.375% 10/05/23 EUR (a) (b) | 100,000 | 108,153 | ||||||
| 3.500% 1/25/28 EUR (a) (b) | 100,000 | 106,059 | ||||||
| 4.625% 7/18/23 EUR (a) (b) | 100,000 | 109,111 | ||||||
| CaixaBank SA | ||||||||
| 1.125% 5/17/24 EUR (a) (b) | 100,000 | 106,296 | ||||||
| 1.750% 10/24/23 EUR (a) (b) | 100,000 | 108,362 | ||||||
| 5 yr. EUR Swap + 2.350% 2.750% VRN 7/14/28 EUR (a) (b) | 200,000 | 218,121 | ||||||
| 3.750% 9/07/29 EUR (a) (b) | 100,000 | 107,674 | ||||||
| SOFR + 2.700% 6.208% VRN 1/18/29 (a) | 500,000 | 498,757 | ||||||
| 5 yr. EUR Swap + 3.550% 6.250% VRN 2/23/33 EUR (a) (b) | 100,000 | 109,581 | ||||||
| Citigroup, Inc. | ||||||||
| 0.750% 10/26/23 EUR (a) (b) | 110,000 | 118,844 | ||||||
| SOFR + 1.167% 2.561% VRN 5/01/32 | 300,000 | 244,958 | ||||||
| SOFR + 1.280% 3.070% VRN 2/24/28 | 570,000 | 524,538 | ||||||
| SOFR + 2.842% 3.106% VRN 4/08/26 | 240,000 | 229,127 | ||||||
| SOFR + 1.546% 5.610% VRN 9/29/26 | 565,000 | 564,232 | ||||||
| SOFR + 2.661% 6.174% FRN 5/25/34 | 195,000 | 196,699 | ||||||
| Commerzbank AG | ||||||||
| 0.500% 8/28/23 EUR (a) (b) | 142,000 | 154,168 | ||||||
| Cooperatieve Rabobank UA | ||||||||
| 0.750% 8/29/23 EUR (a) (b) | 100,000 | 108,615 | ||||||
| 3.875% 7/25/23 EUR (a) (b) | 118,000 | 128,677 | ||||||
| 4.625% 5/23/29 GBP (a) (b) | 150,000 | 166,882 | ||||||
| Credit Agricole SA | ||||||||
| 1.000% 9/16/24 EUR (a) (b) | 200,000 | 209,989 | ||||||
| Credit Suisse AG | ||||||||
| 1.250% 8/07/26 | 260,000 | 223,828 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Danske Bank AS | ||||||||
| 1 yr. EURIBOR ICE Swap + .880% 0.750% VRN 6/09/29 EUR (a) (b) | $ | 100,000 | $ | 90,034 | ||||
| 1 yr. EUR Swap + .850% 1.375% VRN 2/17/27 EUR (a) (b) | 110,000 | 109,536 | ||||||
| 5 yr. EUR Swap + 1.700% 1.375% VRN 2/12/30 EUR (a) (b) | 200,000 | 201,980 | ||||||
| 3 mo. USD LIBOR + 1.591% 3.244% VRN 12/20/25 (a) | 1,040,000 | 987,294 | ||||||
| 1 yr. CMT + 1.450% 3.773% VRN 3/28/25 (a) | 355,000 | 346,978 | ||||||
| 3.875% 9/12/23 (a) | 5,000 | 4,981 | ||||||
| Deutsche Bank AG | ||||||||
| 1.125% 8/30/23 EUR (a) (b) | 114,000 | 123,822 | ||||||
| Discover Bank | ||||||||
| 4.650% 9/13/28 | 405,000 | 375,962 | ||||||
| DNB Bank ASA | ||||||||
| 0.050% 11/14/23 EUR (a) (b) | 109,000 | 117,248 | ||||||
| Fifth Third Bancorp | ||||||||
| 2.375% 1/28/25 | 90,000 | 84,226 | ||||||
| 2.550% 5/05/27 | 50,000 | 44,164 | ||||||
| 3.950% 3/14/28 | 155,000 | 142,550 | ||||||
| SOFR + 2.127% 4.772% VRN 7/28/30 | 140,000 | 130,821 | ||||||
| Goldman Sachs Group, Inc. | ||||||||
| 1.375% 5/15/24 EUR (a) (b) | 40,000 | 42,631 | ||||||
| SOFR + .818% 1.542% VRN 9/10/27 | 605,000 | 531,736 | ||||||
| 1.625% 7/27/26 EUR (a) (b) | 140,000 | 142,309 | ||||||
| 2.000% 7/27/23 EUR (a) (b) | 130,000 | 141,687 | ||||||
| SOFR + 1.248% 2.383% VRN 7/21/32 | 510,000 | 408,509 | ||||||
| 3.500% 11/16/26 | 385,000 | 360,939 | ||||||
| SOFR + 1.846% 3.615% VRN 3/15/28 | 550,000 | 516,050 | ||||||
| 1 yr. U.K. Government Bond + 1.950% 3.625% VRN 10/29/29 GBP (a) (b) | 85,000 | 93,080 | ||||||
| SOFR + 1.725% 4.482% VRN 8/23/28 | 520,000 | 502,744 | ||||||
| HSBC Holdings PLC | ||||||||
| 3 mo. EURIBOR + 1.290% 4.752% VRN 3/10/28 EUR (a) (b) | 280,000 | 305,278 | ||||||
| SOFR + 2.110% 4.755% VRN 6/09/28 | 770,000 | 739,822 | ||||||
| SOFR + 2.610% 5.210% VRN 8/11/28 | 440,000 | 430,217 | ||||||
| SOFR + 2.390% 6.254% VRN 3/09/34 | 705,000 | 722,660 | ||||||
| Huntington National Bank SOFR + 1.215% | ||||||||
| 5.699% VRN 11/18/25 | 250,000 | 242,868 | ||||||
| ING Groep NV | ||||||||
| 1.000% 9/20/23 EUR (a) (b) | 100,000 | 108,458 | ||||||
| 3 mo. EURIBOR + .850% 1.250% VRN 2/16/27 EUR (a) (b) | 200,000 | 199,671 | ||||||
| Intesa Sanpaolo SpA | ||||||||
| 1.000% 7/04/24 EUR (a) (b) | 300,000 | 316,915 | ||||||
| 2.125% 8/30/23 EUR (a) (b) | 114,000 | 124,056 | ||||||
| 1 yr. CMT + 2.600% 4.198% VRN 6/01/32 (a) | 200,000 | 149,058 | ||||||
| 6.625% 6/20/33 (a) | 365,000 | 363,661 | ||||||
| JP Morgan Chase & Co. | ||||||||
| SOFR + .885% 1.578% VRN 4/22/27 | 465,000 | 417,669 | ||||||
| 3 mo. USD Term SOFR + 1.105% 1.764% VRN 11/19/31 | 955,000 | 755,804 | ||||||
| SOFR + 1.890% 2.182% VRN 6/01/28 | 675,000 | 599,890 | ||||||
| SOFR + 2.040% 2.522% VRN 4/22/31 | 165,000 | 139,564 | ||||||
| 3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30 | 265,000 | 228,277 | ||||||
| 3 mo. TSFR + 2.515% 2.956% VRN 5/13/31 | 1,060,000 | 908,897 | ||||||
| KBC Group NV | ||||||||
| 0.750% 10/18/23 EUR (a) (b) | 100,000 | 108,135 | ||||||
| 1 yr. CMT + 2.100% 5.796% VRN 1/19/29 (a) | 620,000 | 615,688 | ||||||
| Kreditanstalt fuer Wiederaufbau | ||||||||
| 4.700% 6/02/37 CAD (b) | 75,000 | 59,416 | ||||||
| 4.700% 6/02/37 CAD (b) | 65,000 | 51,494 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Landsbankinn HF | ||||||||
| 0.375% 5/23/25 EUR (a) (b) | $ | 265,000 | $ | 257,881 | ||||
| Morgan Stanley | ||||||||
| 3 mo. EURIBOR + .698% 0.406% VRN 10/29/27 EUR (b) | 100,000 | 95,113 | ||||||
| 3 mo. EURIBOR + .867% 0.495% VRN 10/26/29 EUR (b) | 260,000 | 231,109 | ||||||
| 3 mo. EURIBOR + .753% 0.637% VRN 7/26/24 EUR (b) | 100,000 | 108,899 | ||||||
| SOFR + .858% 1.512% VRN 7/20/27 | 630,000 | 558,160 | ||||||
| SOFR + .879% 1.593% VRN 5/04/27 | 670,000 | 599,796 | ||||||
| SOFR + 1.485% 3.217% VRN 4/22/42 | 165,000 | 125,120 | ||||||
| SOFR + 1.730% 5.123% VRN 2/01/29 | 880,000 | 867,889 | ||||||
| 3 mo. EURIBOR + 1.954% 5.148% VRN 1/25/34 EUR (b) | 100,000 | 114,196 | ||||||
| National Australia Bank Ltd. | ||||||||
| 0.625% 11/10/23 EUR (a) (b) | 56,000 | 60,398 | ||||||
| Nationale-Nederlanden Bank NV | ||||||||
| 0.375% 2/26/25 EUR (a) (b) | 100,000 | 102,328 | ||||||
| Natwest Group PLC 3 mo. EURIBOR + .949% | ||||||||
| 0.780% VRN 2/26/30 EUR (a) (b) | 180,000 | 156,396 | ||||||
| NatWest Group PLC 5 yr. EUR Swap + 1.270% | ||||||||
| 1.043% VRN 9/14/32 EUR (a) (b) | 135,000 | 120,125 | ||||||
| NongHyup Bank | ||||||||
| 4.875% 7/03/28 (a) (d) | 310,000 | 305,916 | ||||||
| Nordea Bank Abp | ||||||||
| 5.375% 9/22/27 (a) | 320,000 | 315,855 | ||||||
| OTP Bank Nyrt 3 mo. EURIBOR + 4.523% | ||||||||
| 7.350% VRN 3/04/26 EUR (a) (b) | 140,000 | 154,293 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| 2.550% 1/22/30 | 145,000 | 121,812 | ||||||
| SOFR + 2.140% 6.037% VRN 10/28/33 | 460,000 | 470,751 | ||||||
| QNB Finance Ltd. | ||||||||
| 2.750% 2/12/27 (a) | 200,000 | 184,538 | ||||||
| Santander Holdings USA, Inc. | ||||||||
| SOFR + 1.249% 2.490% VRN 1/06/28 | 170,000 | 146,826 | ||||||
| SOFR + 2.356% 6.499% VRN 3/09/29 | 100,000 | 98,913 | ||||||
| Santander U.K. Group Holdings PLC | ||||||||
| 1 yr. EUR Swap + .800% 0.603% VRN 9/13/29 EUR (a) (b) | 275,000 | 238,998 | ||||||
| 1.125% 9/08/23 EUR (a) (b) | 111,000 | 120,505 | ||||||
| 1 yr. CMT + 1.250% 1.532% VRN 8/21/26 | 1,465,000 | 1,304,428 | ||||||
| 1 yr. GBP SONIA Linked ICE Swap + 1.250% 2.421% VRN 1/17/29 GBP (a) (b) | 100,000 | 103,156 | ||||||
| Shinhan Bank Co. Ltd. | ||||||||
| 4.500% 4/12/28 (a) | 330,000 | 321,578 | ||||||
| Standard Chartered PLC | ||||||||
| 1 yr. CMT + 1.000% 1.456% VRN 1/14/27 (a) | 295,000 | 261,294 | ||||||
| 5 yr. EUR Swap + 2.800% 2.500% VRN 9/09/30 EUR (a) (b) | 300,000 | 303,640 | ||||||
| 3 mo. USD LIBOR + 1.209% 2.819% VRN 1/30/26 (a) | 200,000 | 188,570 | ||||||
| 1 yr. CMT + 1.650% 3.971% VRN 3/30/26 (a) | 285,000 | 272,377 | ||||||
| State Bank of India | ||||||||
| 4.875% 5/05/28 (a) | 480,000 | 469,992 | ||||||
| Toronto-Dominion Bank | ||||||||
| 0.625% 7/20/23 EUR (a) (b) | 110,000 | 119,865 | ||||||
| Truist Financial Corp. SOFR + 1.368% | ||||||||
| 4.123% VRN 6/06/28 | 525,000 | 494,695 | ||||||
| U.S. Bancorp SOFR + 1.600% | ||||||||
| 4.839% VRN 2/01/34 (c) | 240,000 | 224,167 | ||||||
| UBS Group AG | ||||||||
| SOFR + .980% 1.305% VRN 2/02/27 (a) | 340,000 | 297,047 | ||||||
| 12 yr. GBP Swap + 1.230% 2.125% VRN 9/12/25 GBP (a) (b) | 250,000 | 296,906 | ||||||
| 1 yr. EUR Swap + 1.950% 2.875% VRN 4/02/32 EUR (a) (b) | 185,000 | 175,754 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.750% 3/26/25 | $ | 890,000 | $ | 851,641 | ||||
| 1 yr. CMT + 2.200% 5.959% VRN 1/12/34 (a) | 445,000 | 442,664 | ||||||
| UniCredit SpA 5 yr. EURIBOR ICE Swap + 4.739% | ||||||||
| 4.875% VRN 2/20/29 EUR (a) (b) | 200,000 | 216,684 | ||||||
| Wells Fargo & Co. | ||||||||
| SOFR + 2.100% 2.393% VRN 6/02/28 | 1,105,000 | 984,700 | ||||||
| 3 mo. USD Term SOFR + 1.262% 2.572% VRN 2/11/31 | 1,225,000 | 1,037,195 | ||||||
| 3 mo. USD Term SOFR + 1.432% 2.879% VRN 10/30/30 | 2,145,000 | 1,852,604 | ||||||
| SOFR + 2.530% 3.068% VRN 4/30/41 | 335,000 | 246,398 | ||||||
| 4.300% 7/22/27 | 290,000 | 278,193 | ||||||
| 45,080,847 | ||||||||
| Beverages — 0.2% | ||||||||
| Anheuser-Busch InBev SA | ||||||||
| 1.650% 3/28/31 EUR (a) (b) | 165,000 | 155,994 | ||||||
| Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 4.500% 6/01/50 | 380,000 | 350,415 | ||||||
| 5.550% 1/23/49 | 400,000 | 421,598 | ||||||
| 928,007 | ||||||||
| Biotechnology — 0.1% | ||||||||
| Amgen, Inc. | ||||||||
| 4.875% 3/01/53 | 135,000 | 124,213 | ||||||
| CSL Finance PLC | ||||||||
| 4.050% 4/27/29 (a) | 260,000 | 246,695 | ||||||
| 370,908 | ||||||||
| Building Materials — 0.1% | ||||||||
| CRH Finance U.K. PLC | ||||||||
| 4.125% 12/02/29 GBP (a) (b) | 150,000 | 170,290 | ||||||
| Emerald Debt Merger Sub LLC | ||||||||
| 6.625% 12/15/30 (a) | 125,000 | 123,906 | ||||||
| Johnson Controls International PLC | ||||||||
| 1.000% 9/15/23 EUR (b) | 111,000 | 120,487 | ||||||
| 414,683 | ||||||||
| Chemicals — 0.3% | ||||||||
| Braskem Netherlands Finance BV | ||||||||
| 4.500% 1/31/30 (a) | 300,000 | 257,720 | ||||||
| Celanese U.S. Holdings LLC | ||||||||
| 6.050% 3/15/25 | 420,000 | 418,284 | ||||||
| 6.165% 7/15/27 | 145,000 | 144,250 | ||||||
| INEOS Finance PLC | ||||||||
| 6.625% 5/15/28 EUR (a) (b) | 100,000 | 107,020 | ||||||
| MEGlobal BV | ||||||||
| 2.625% 4/28/28 (a) | 200,000 | 174,250 | ||||||
| Methanex Corp. | ||||||||
| 5.125% 10/15/27 | 65,000 | 60,513 | ||||||
| Westlake Corp. | ||||||||
| 1.625% 7/17/29 EUR (b) | 575,000 | 514,414 | ||||||
| 1,676,451 | ||||||||
| Commercial Services — 0.2% | ||||||||
| Autostrade per l'Italia SpA | ||||||||
| 2.000% 12/04/28 EUR (a) (b) | 165,000 | 157,339 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2.000% 1/15/30 EUR (a) (b) | $ | 155,000 | $ | 141,814 | ||||
| 2.250% 1/25/32 EUR (a) (b) | 100,000 | 88,457 | ||||||
| Equifax, Inc. | ||||||||
| 5.100% 12/15/27 | 305,000 | 301,557 | ||||||
| Holding d'Infrastructures de Transport SASU | ||||||||
| 1.475% 1/18/31 EUR (a) (b) | 100,000 | 88,872 | ||||||
| IPD 3 BV | ||||||||
| 8.000% 6/15/28 EUR (a) (b) | 100,000 | 111,215 | ||||||
| Loxam SAS | ||||||||
| 6.375% 5/15/28 EUR (a) (b) | 100,000 | 107,845 | ||||||
| Transurban Finance Co. Pty. Ltd. | ||||||||
| 3.000% 4/08/30 EUR (a) (b) | 300,000 | 306,943 | ||||||
| Verisure Holding AB | ||||||||
| 3.875% 7/15/26 EUR (a) (b) | 100,000 | 102,295 | ||||||
| 1,406,337 | ||||||||
| Computers — 0.0% | ||||||||
| Capgemini SE | ||||||||
| 2.500% 7/01/23 EUR (a) (b) | 100,000 | 109,120 | ||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Ritchie Bros Holdings, Inc. | ||||||||
| 6.750% 3/15/28 (a) | 20,000 | 20,159 | ||||||
| 7.750% 3/15/31 (a) (c) | 15,000 | 15,561 | ||||||
| 35,720 | ||||||||
| Diversified Financial Services — 1.5% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 2.450% 10/29/26 | 525,000 | 468,904 | ||||||
| 3.500% 1/15/25 | 150,000 | 143,611 | ||||||
| 4.450% 4/03/26 | 270,000 | 257,789 | ||||||
| 4.875% 1/16/24 | 540,000 | 536,205 | ||||||
| 6.500% 7/15/25 | 150,000 | 150,742 | ||||||
| Ally Financial, Inc. | ||||||||
| 4.750% 6/09/27 (c) | 1,065,000 | 988,668 | ||||||
| CA Auto Bank SPA | ||||||||
| 0.500% 9/18/23 EUR (a) (b) | 109,000 | 118,100 | ||||||
| 0.500% 9/13/24 EUR (a) (b) | 160,000 | 166,381 | ||||||
| Capital One Financial Corp. | ||||||||
| 1.650% 6/12/29 EUR (b) | 300,000 | 265,101 | ||||||
| SOFR + 1.790% 3.273% VRN 3/01/30 | 265,000 | 225,006 | ||||||
| 3.650% 5/11/27 | 510,000 | 473,696 | ||||||
| 3.750% 3/09/27 | 115,000 | 107,115 | ||||||
| SOFR + 2.160% 4.985% VRN 7/24/26 | 525,000 | 508,857 | ||||||
| SOFR + 2.600% 5.247% VRN 7/26/30 | 140,000 | 131,979 | ||||||
| SOFR + 2.600% 5.817% VRN 2/01/34 | 445,000 | 424,563 | ||||||
| Encore Capital Group, Inc. | ||||||||
| 5.375% 2/15/26 GBP (a) (b) | 140,000 | 155,308 | ||||||
| Intercontinental Exchange, Inc. | ||||||||
| 2.650% 9/15/40 | 130,000 | 91,807 | ||||||
| 4.350% 6/15/29 | 465,000 | 454,787 | ||||||
| Iqera Group SAS | ||||||||
| 4.250% 9/30/24 EUR (a) (b) | 100,000 | 106,578 | ||||||
| Kane Bidco Ltd. | ||||||||
| 5.000% 2/15/27 EUR (a) (b) | 125,000 | 127,688 | ||||||
| LeasePlan Corp. NV | ||||||||
| 0.125% 9/13/23 EUR (b) | 108,000 | 116,934 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5 yr. EURIBOR ICE Swap + 7.556% 7.375% VRN EUR (a) (b) (e) | $ | 200,000 | $ | 213,655 | ||||
| LSEGA Financing PLC | ||||||||
| 2.000% 4/06/28 (a) | 1,520,000 | 1,302,772 | ||||||
| 2.500% 4/06/31 (a) | 435,000 | 362,588 | ||||||
| 3.200% 4/06/41 (a) | 200,000 | 149,028 | ||||||
| Nasdaq, Inc. | ||||||||
| 5.950% 8/15/53 | 95,000 | 97,270 | ||||||
| 6.100% 6/28/63 | 120,000 | 122,706 | ||||||
| Navient Corp. | ||||||||
| 9.375% 7/25/30 | 115,000 | 114,385 | ||||||
| OneMain Finance Corp. | ||||||||
| 7.125% 3/15/26 (c) | 55,000 | 54,037 | ||||||
| 9.000% 1/15/29 | 125,000 | 126,056 | ||||||
| 8,562,316 | ||||||||
| Electric — 1.7% | ||||||||
| Abu Dhabi National Energy Co. PJSC | ||||||||
| 4.375% 1/24/29 (a) | 400,000 | 394,832 | ||||||
| Baltimore Gas & Electric Co. | ||||||||
| 5.400% 6/01/53 | 200,000 | 203,180 | ||||||
| Duke Energy Corp. | ||||||||
| 5.000% 8/15/52 | 725,000 | 662,749 | ||||||
| Duke Energy Indiana LLC | ||||||||
| 5.400% 4/01/53 | 165,000 | 166,300 | ||||||
| E.ON International Finance BV | ||||||||
| 6.250% 6/03/30 GBP (a) (b) | 135,000 | 172,393 | ||||||
| Edison International | ||||||||
| 4.950% 4/15/25 | 30,000 | 29,363 | ||||||
| EDP - Energias de Portugal SA | ||||||||
| 2.875% 6/01/26 EUR (a) (b) | 200,000 | 211,571 | ||||||
| EDP Finance BV | ||||||||
| 6.300% 10/11/27 (a) | 200,000 | 205,028 | ||||||
| Enel Finance America LLC | ||||||||
| 7.100% 10/14/27 (a) | 200,000 | 210,140 | ||||||
| Enel Finance International NV | ||||||||
| 5.250% 9/29/23 EUR (b) | 26,000 | 28,459 | ||||||
| 5.625% 8/14/24 GBP (a) (b) | 150,000 | 188,953 | ||||||
| 6.800% 10/14/25 (a) | 200,000 | 203,725 | ||||||
| Georgia Power Co. | ||||||||
| 4.950% 5/17/33 | 450,000 | 444,194 | ||||||
| Indiana Michigan Power Co. | ||||||||
| 5.625% 4/01/53 | 35,000 | 35,915 | ||||||
| Interchile SA | ||||||||
| 4.500% 6/30/56 (a) | 280,000 | 232,540 | ||||||
| Israel Electric Corp. Ltd. | ||||||||
| 7.875% 12/15/26 (a) | 250,000 | 261,487 | ||||||
| Minejesa Capital BV | ||||||||
| 5.625% 8/10/37 (a) | 300,000 | 234,749 | ||||||
| NextEra Energy Capital Holdings, Inc. | ||||||||
| 2.440% 1/15/32 | 435,000 | 352,678 | ||||||
| 3.000% 1/15/52 | 425,000 | 279,424 | ||||||
| 5.000% 7/15/32 | 125,000 | 123,278 | ||||||
| 5.250% 2/28/53 | 175,000 | 168,468 | ||||||
| NRG Energy, Inc. | ||||||||
| 4.450% 6/15/29 (a) | 170,000 | 150,254 | ||||||
| Orsted AS | ||||||||
| 4.875% 1/12/32 GBP (a) (b) | 150,000 | 176,516 | ||||||
| Pacific Gas & Electric Co. | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2.100% 8/01/27 | $ | 540,000 | $ | 461,259 | ||||
| 2.500% 2/01/31 | 465,000 | 364,041 | ||||||
| 4.550% 7/01/30 | 510,000 | 461,563 | ||||||
| 6.700% 4/01/53 | 145,000 | 142,352 | ||||||
| Palomino Funding Trust I | ||||||||
| 7.233% 5/17/28 (a) | 290,000 | 290,143 | ||||||
| RTE Reseau de Transport d'Electricite SADIR | ||||||||
| 0.750% 1/12/34 EUR (a) (b) | 200,000 | 163,504 | ||||||
| Sempra Energy | ||||||||
| 3.700% 4/01/29 | 145,000 | 132,434 | ||||||
| Southern California Edison Co. | ||||||||
| 4.700% 6/01/27 | 340,000 | 334,213 | ||||||
| 5.700% 3/01/53 | 220,000 | 219,951 | ||||||
| Southern Co. | ||||||||
| 5.200% 6/15/33 | 665,000 | 659,586 | ||||||
| State Grid Overseas Investment BVI Ltd. | ||||||||
| 1.375% 5/02/25 EUR (a) (b) | 100,000 | 103,173 | ||||||
| Talen Energy Supply LLC | ||||||||
| 8.625% 6/01/30 (a) | 40,000 | 41,400 | ||||||
| TenneT Holding BV | ||||||||
| 2.000% 6/05/34 EUR (a) (b) | 330,000 | 309,440 | ||||||
| Vistra Corp. 5 yr. CMT + 6.930% | ||||||||
| 8.000% VRN (a) (e) | 310,000 | 289,847 | ||||||
| Vistra Operations Co. LLC | ||||||||
| 4.375% 5/01/29 (a) (c) | 100,000 | 87,590 | ||||||
| 5.125% 5/13/25 (a) | 485,000 | 472,854 | ||||||
| 9,669,546 | ||||||||
| Electrical Components & Equipment — 0.0% | ||||||||
| Schneider Electric SE | ||||||||
| 1.500% 9/08/23 EUR (a) (b) | 100,000 | 108,670 | ||||||
| Electronics — 0.1% | ||||||||
| Arrow Electronics, Inc. | ||||||||
| 4.000% 4/01/25 | 375,000 | 360,055 | ||||||
| Sensata Technologies BV | ||||||||
| 5.875% 9/01/30 (a) | 345,000 | 335,438 | ||||||
| 695,493 | ||||||||
| Engineering & Construction — 0.2% | ||||||||
| ABB Finance BV | ||||||||
| 3.375% 1/16/31 EUR (a) (b) | 115,000 | 122,948 | ||||||
| Avinor AS | ||||||||
| 0.750% 10/01/30 EUR (a) (b) | 140,000 | 123,681 | ||||||
| Cellnex Telecom SA | ||||||||
| 1.750% 10/23/30 EUR (a) (b) | 500,000 | 439,637 | ||||||
| Infrastrutture Wireless Italiane SpA | ||||||||
| 1.625% 10/21/28 EUR (a) (b) | 155,000 | 148,189 | ||||||
| 834,455 | ||||||||
| Entertainment — 0.2% | ||||||||
| Caesars Entertainment, Inc. | ||||||||
| 7.000% 2/15/30 (a) | 110,000 | 110,466 | ||||||
| Churchill Downs, Inc. | ||||||||
| 6.750% 5/01/31 (a) | 35,000 | 34,606 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Cirsa Finance International Sarl | ||||||||
| 6.250% 12/20/23 EUR (a) (b) | $ | 24,133 | $ | 26,215 | ||||
| International Game Technology PLC | ||||||||
| 3.500% 6/15/26 EUR (a) (b) | 100,000 | 105,165 | ||||||
| 3.500% 6/15/26 EUR (a) (b) | 100,000 | 105,165 | ||||||
| Lottomatica SpA 3 mo. EUR EURIBOR + 4.125% | ||||||||
| 7.588% VRN 6/01/28 EUR (a) (b) | 100,000 | 109,529 | ||||||
| Motion Finco Sarl | ||||||||
| 7.375% 6/15/30 EUR (a) (b) | 170,000 | 184,308 | ||||||
| Warnermedia Holdings, Inc. | ||||||||
| 3.755% 3/15/27 | 705,000 | 657,600 | ||||||
| 1,333,054 | ||||||||
| Environmental Controls — 0.0% | ||||||||
| Madison IAQ LLC | ||||||||
| 4.125% 6/30/28 (a) | 95,000 | 83,628 | ||||||
| Food — 0.1% | ||||||||
| Bellis Acquisition Co. PLC | ||||||||
| 3.250% 2/16/26 GBP (a) (b) | 100,000 | 106,046 | ||||||
| Chobani LLC/Chobani Finance Corp., Inc. | ||||||||
| 4.625% 11/15/28 (a) | 105,000 | 95,550 | ||||||
| Mondelez International Holdings Netherlands BV | ||||||||
| 0.250% 9/09/29 EUR (a) (b) | 198,000 | 175,601 | ||||||
| Mondelez International, Inc. | ||||||||
| 0.250% 3/17/28 EUR (b) | 100,000 | 92,877 | ||||||
| Tesco Corporate Treasury Services PLC | ||||||||
| 0.875% 5/29/26 EUR (a) (b) | 150,000 | 149,278 | ||||||
| 1.875% 11/02/28 GBP (a) (b) | 150,000 | 152,097 | ||||||
| 771,449 | ||||||||
| Forest Products & Paper — 0.0% | ||||||||
| Suzano Austria GmbH | ||||||||
| 5.000% 1/15/30 | 200,000 | 189,200 | ||||||
| Gas — 0.1% | ||||||||
| APA Infrastructure Ltd. | ||||||||
| 3.125% 7/18/31 GBP (a) (b) | 150,000 | 149,339 | ||||||
| 3.500% 3/22/30 GBP (a) (b) | 150,000 | 158,045 | ||||||
| NiSource, Inc. | ||||||||
| 5.250% 3/30/28 | 85,000 | 84,933 | ||||||
| Snam SpA | ||||||||
| 0.875% 10/25/26 EUR (a) (b) | 185,000 | 183,021 | ||||||
| 575,338 | ||||||||
| Health Care – Products — 0.2% | ||||||||
| Abbott Ireland Financing DAC | ||||||||
| 0.875% 9/27/23 EUR (a) (b) | 111,000 | 120,277 | ||||||
| Avantor Funding, Inc. | ||||||||
| 4.625% 7/15/28 (a) | 105,000 | 97,327 | ||||||
| Becton Dickinson Euro Finance Sarl | ||||||||
| 1.213% 2/12/36 EUR (b) | 100,000 | 78,402 | ||||||
| Medtronic Global Holdings SCA | ||||||||
| 0.375% 10/15/28 EUR (b) | 100,000 | 92,167 | ||||||
| Revvity, Inc. | ||||||||
| 1.900% 9/15/28 | 410,000 | 347,236 | ||||||
| 2.250% 9/15/31 | 220,000 | 176,520 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.300% 9/15/29 | $ | 195,000 | $ | 174,248 | ||||
| Thermo Fisher Scientific, Inc. | ||||||||
| 0.875% 10/01/31 EUR (b) | 140,000 | 122,285 | ||||||
| 2.375% 4/15/32 EUR (b) | 100,000 | 97,950 | ||||||
| 1,306,412 | ||||||||
| Health Care – Services — 1.2% | ||||||||
| Centene Corp. | ||||||||
| 2.450% 7/15/28 | 230,000 | 196,594 | ||||||
| 2.625% 8/01/31 | 315,000 | 251,017 | ||||||
| 3.375% 2/15/30 | 515,000 | 442,612 | ||||||
| 4.625% 12/15/29 | 875,000 | 805,382 | ||||||
| Charles River Laboratories International, Inc. | ||||||||
| 4.000% 3/15/31 (a) | 110,000 | 95,541 | ||||||
| Elevance Health, Inc. | ||||||||
| 5.125% 2/15/53 | 220,000 | 213,341 | ||||||
| Fresenius Medical Care AG & Co. KGaA | ||||||||
| 0.250% 11/29/23 EUR (a) (b) | 72,000 | 77,277 | ||||||
| Fresenius SE & Co. KGaA | ||||||||
| 5.000% 11/28/29 EUR (a) (b) | 100,000 | 110,184 | ||||||
| HCA, Inc. | ||||||||
| 3.125% 3/15/27 (a) | 235,000 | 215,809 | ||||||
| 3.375% 3/15/29 (a) | 90,000 | 80,024 | ||||||
| 3.500% 9/01/30 | 499,000 | 437,398 | ||||||
| 5.375% 9/01/26 | 170,000 | 168,664 | ||||||
| 5.875% 2/15/26 | 160,000 | 160,101 | ||||||
| Humana, Inc. | ||||||||
| 4.875% 4/01/30 | 550,000 | 538,872 | ||||||
| 5.500% 3/15/53 | 185,000 | 184,247 | ||||||
| IQVIA, Inc. | ||||||||
| 6.500% 5/15/30 (a) | 200,000 | 201,975 | ||||||
| Molina Healthcare, Inc. | ||||||||
| 4.375% 6/15/28 (a) | 75,000 | 69,139 | ||||||
| Sutter Health | ||||||||
| 5.164% 8/15/33 | 140,000 | 139,670 | ||||||
| 5.547% 8/15/53 | 125,000 | 129,087 | ||||||
| UnitedHealth Group, Inc. | ||||||||
| 2.000% 5/15/30 | 190,000 | 159,893 | ||||||
| 4.500% 4/15/33 | 420,000 | 409,081 | ||||||
| 5.050% 4/15/53 | 1,040,000 | 1,033,705 | ||||||
| 5.875% 2/15/53 | 735,000 | 816,385 | ||||||
| 6,935,998 | ||||||||
| Insurance — 1.0% | ||||||||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||
| 6.750% 4/15/28 (a) | 295,000 | 292,563 | ||||||
| Allianz SE 10 yr. EURIBOR ICE Swap + 3.200% | ||||||||
| 3.375% VRN EUR (a) (b) (e) | 400,000 | 424,498 | ||||||
| AmWINS Group, Inc. | ||||||||
| 4.875% 6/30/29 (a) | 140,000 | 126,418 | ||||||
| Aon Corp. | ||||||||
| 2.800% 5/15/30 | 145,000 | 125,500 | ||||||
| Athene Global Funding | ||||||||
| 0.832% 1/08/27 EUR (a) (b) | 165,000 | 153,993 | ||||||
| Berkshire Hathaway Finance Corp. | ||||||||
| 1.500% 3/18/30 EUR (b) | 167,000 | 156,709 | ||||||
| 2.500% 1/15/51 | 610,000 | 398,554 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2.850% 10/15/50 | $ | 185,000 | $ | 128,737 | ||||
| 3.850% 3/15/52 | 195,000 | 161,199 | ||||||
| CNO Financial Group, Inc. | ||||||||
| 5.250% 5/30/25 | 217,000 | 213,145 | ||||||
| Corebridge Financial, Inc. | ||||||||
| 3.900% 4/05/32 | 145,000 | 125,990 | ||||||
| Credit Agricole Assurances SA 5 yr. EURIBOR ICE Swap + 2.650% | ||||||||
| 2.625% VRN 1/29/48 EUR (a) (b) | 200,000 | 191,296 | ||||||
| Equitable Holdings, Inc. | ||||||||
| 4.350% 4/20/28 | 1,150,000 | 1,076,223 | ||||||
| Hannover Rueck SE | ||||||||
| 3 mo. EUR EURIBOR + 2.380% 1.125% VRN 10/09/39 EUR (a) (b) | 200,000 | 171,500 | ||||||
| 3 mo. EUR EURIBOR + 3.000% 1.750% VRN 10/08/40 EUR (a) (b) | 300,000 | 259,174 | ||||||
| HUB International Ltd. | ||||||||
| 7.250% 6/15/30 (a) | 285,000 | 294,291 | ||||||
| Jackson Financial, Inc. | ||||||||
| 5.170% 6/08/27 (c) | 400,000 | 380,925 | ||||||
| Jones Deslauriers Insurance Management, Inc. | ||||||||
| 8.500% 3/15/30 (a) | 140,000 | 142,829 | ||||||
| Legal & General Group PLC 5 yr. U.K. Government Bond + 4.580% | ||||||||
| 5.375% VRN 10/27/45 GBP (a) (b) | 185,000 | 222,773 | ||||||
| Marsh & McLennan Cos., Inc. | ||||||||
| 2.250% 11/15/30 | 185,000 | 153,780 | ||||||
| Metropolitan Life Global Funding I | ||||||||
| 5.000% 1/10/30 GBP (a) (b) | 100,000 | 120,203 | ||||||
| 5.150% 3/28/33 (a) | 240,000 | 237,360 | ||||||
| 5,557,660 | ||||||||
| Internet — 0.3% | ||||||||
| Gen Digital, Inc. | ||||||||
| 7.125% 9/30/30 (a) (c) | 32,000 | 32,054 | ||||||
| Match Group Holdings II LLC | ||||||||
| 5.000% 12/15/27 (a) | 128,000 | 118,709 | ||||||
| MercadoLibre, Inc. | ||||||||
| 3.125% 1/14/31 | 200,000 | 159,419 | ||||||
| Meta Platforms, Inc. | ||||||||
| 5.600% 5/15/53 | 665,000 | 682,963 | ||||||
| Netflix, Inc. | ||||||||
| 3.875% 11/15/29 EUR (a) (b) | 325,000 | 345,178 | ||||||
| 4.625% 5/15/29 EUR (b) | 100,000 | 110,313 | ||||||
| Tencent Holdings Ltd. | ||||||||
| 3.240% 6/03/50 (a) | 350,000 | 229,544 | ||||||
| United Group BV | ||||||||
| 4.625% 8/15/28 EUR (a) (b) | 100,000 | 87,623 | ||||||
| 1,765,803 | ||||||||
| Investment Companies — 0.1% | ||||||||
| JAB Holdings BV | ||||||||
| 2.000% 5/18/28 EUR (a) (b) | 300,000 | 297,039 | ||||||
| MDGH GMTN RSC Ltd. | ||||||||
| 4.375% 11/22/33 (a) | 200,000 | 192,491 | ||||||
| 489,530 | ||||||||
| Iron & Steel — 0.0% | ||||||||
| ABJA Investment Co. Pte Ltd. | ||||||||
| 5.450% 1/24/28 (a) | 200,000 | 196,529 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Leisure Time — 0.2% | ||||||||
| Carnival Corp. | ||||||||
| 9.875% 8/01/27 (a) | $ | 80,000 | $ | 83,331 | ||||
| 10.500% 6/01/30 (a) | 165,000 | 175,045 | ||||||
| Deuce Finco PLC | ||||||||
| 5.500% 6/15/27 GBP (a) (b) | 100,000 | 107,632 | ||||||
| Harley-Davidson Financial Services, Inc. | ||||||||
| 5.125% 4/05/26 EUR (a) (b) | 210,000 | 231,136 | ||||||
| Life Time, Inc. | ||||||||
| 5.750% 1/15/26 (a) | 125,000 | 121,817 | ||||||
| Royal Caribbean Cruises Ltd. | ||||||||
| 11.625% 8/15/27 (a) | 40,000 | 43,497 | ||||||
| 8.250% 1/15/29 (a) | 120,000 | 125,982 | ||||||
| 888,440 | ||||||||
| Lodging — 0.1% | ||||||||
| Las Vegas Sands Corp. | ||||||||
| 3.500% 8/18/26 | 210,000 | 195,600 | ||||||
| Marriott International, Inc. | ||||||||
| 4.900% 4/15/29 | 100,000 | 97,294 | ||||||
| 5.000% 10/15/27 | 335,000 | 332,368 | ||||||
| 625,262 | ||||||||
| Machinery – Diversified — 0.0% | ||||||||
| Highland Holdings Sarl | ||||||||
| 0.318% 12/15/26 EUR (b) | 122,000 | 117,551 | ||||||
| TK Elevator Midco GmbH | ||||||||
| 4.375% 7/15/27 EUR (a) (b) | 100,000 | 97,393 | ||||||
| 214,944 | ||||||||
| Media — 0.2% | ||||||||
| Altice Financing SA | ||||||||
| 4.250% 8/15/29 EUR (a) (b) | 100,000 | 83,510 | ||||||
| CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
| 4.250% 2/01/31 (a) | 130,000 | 105,166 | ||||||
| 6.375% 9/01/29 (a) | 75,000 | 70,662 | ||||||
| 7.375% 3/01/31 (a) | 25,000 | 24,361 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 2.250% 1/15/29 | 355,000 | 295,602 | ||||||
| 6.484% 10/23/45 | 105,000 | 98,712 | ||||||
| Comcast Corp. | ||||||||
| 3.250% 11/01/39 | 295,000 | 234,001 | ||||||
| DISH DBS Corp. | ||||||||
| 5.750% 12/01/28 (a) | 65,000 | 48,346 | ||||||
| DISH Network Corp. | ||||||||
| 11.750% 11/15/27 (a) | 85,000 | 82,952 | ||||||
| Sirius XM Radio, Inc. | ||||||||
| 4.000% 7/15/28 (a) | 125,000 | 108,609 | ||||||
| Univision Communications, Inc. | ||||||||
| 7.375% 6/30/30 (a) (c) | 65,000 | 61,888 | ||||||
| Ziggo BV | ||||||||
| 2.875% 1/15/30 EUR (a) (b) | 100,000 | 87,705 | ||||||
| 1,301,514 | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Mining — 0.0% | ||||||||
| Anglo American Capital PLC | ||||||||
| 3.375% 3/11/29 GBP (a) (b) | $ | 140,000 | $ | 150,218 | ||||
| Hudbay Minerals, Inc. | ||||||||
| 6.125% 4/01/29 (a) (c) | 60,000 | 55,246 | ||||||
| 205,464 | ||||||||
| Miscellaneous - Manufacturing — 0.0% | ||||||||
| Siemens Financieringsmaatschappij NV | ||||||||
| 0.375% 9/06/23 EUR (a) (b) | 107,000 | 116,042 | ||||||
| Oil & Gas — 0.5% | ||||||||
| BP Capital Markets PLC | ||||||||
| 2.213% 9/25/26 EUR (a) (b) | 160,000 | 165,702 | ||||||
| Chesapeake Energy Corp. | ||||||||
| 6.750% 4/15/29 (a) (c) | 75,000 | 74,418 | ||||||
| Eni SpA | ||||||||
| 3.250% 7/10/23 EUR (a) (b) | 117,000 | 127,652 | ||||||
| 4.750% 9/12/28 (a) | 475,000 | 463,751 | ||||||
| Leviathan Bond Ltd. | ||||||||
| 6.500% 6/30/27 (a) | 300,000 | 286,500 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 6.200% 3/15/40 | 95,000 | 93,631 | ||||||
| 6.450% 9/15/36 | 80,000 | 82,104 | ||||||
| 8.500% 7/15/27 (c) | 115,000 | 124,224 | ||||||
| 8.875% 7/15/30 | 260,000 | 298,839 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.750% 2/26/29 EUR (a) (b) | 365,000 | 311,660 | ||||||
| Pioneer Natural Resources Co. | ||||||||
| 5.100% 3/29/26 | 145,000 | 144,130 | ||||||
| Saudi Arabian Oil Co. | ||||||||
| 4.250% 4/16/39 (a) | 200,000 | 175,858 | ||||||
| Wintershall Dea Finance BV | ||||||||
| 0.452% 9/25/23 EUR (a) (b) | 100,000 | 108,067 | ||||||
| Woodside Finance Ltd. | ||||||||
| 3.700% 9/15/26 (a) | 750,000 | 705,506 | ||||||
| 3,162,042 | ||||||||
| Packaging & Containers — 0.1% | ||||||||
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC | ||||||||
| 3.000% 9/01/29 EUR (a) (b) | 180,000 | 145,855 | ||||||
| Ball Corp. | ||||||||
| 6.000% 6/15/29 | 130,000 | 129,025 | ||||||
| 6.875% 3/15/28 (c) | 140,000 | 142,781 | ||||||
| Graphic Packaging International LLC | ||||||||
| 2.625% 2/01/29 EUR (a) (b) | 100,000 | 95,614 | ||||||
| Sealed Air Corp. | ||||||||
| 5.000% 4/15/29 (a) | 75,000 | 69,783 | ||||||
| Sealed Air Corp./Sealed Air Corp. U.S. | ||||||||
| 6.125% 2/01/28 (a) | 20,000 | 19,852 | ||||||
| Trivium Packaging Finance BV | ||||||||
| 3.750% 8/15/26 EUR (a) (b) | 100,000 | 100,481 | ||||||
| 703,391 | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pharmaceuticals — 1.2% | ||||||||
| AbbVie, Inc. | ||||||||
| 2.625% 11/15/28 EUR (b) | $ | 225,000 | $ | 230,801 | ||||
| 4.050% 11/21/39 | 270,000 | 235,079 | ||||||
| 4.250% 11/21/49 | 325,000 | 280,517 | ||||||
| 4.700% 5/14/45 | 530,000 | 484,226 | ||||||
| 4.875% 11/14/48 | 980,000 | 926,123 | ||||||
| Bayer Capital Corp. BV | ||||||||
| 1.250% 11/13/23 EUR (a) (b) | 56,000 | 60,490 | ||||||
| Becton Dickinson & Co. | ||||||||
| 2.823% 5/20/30 | 510,000 | 446,043 | ||||||
| 3.020% 5/24/25 GBP (b) | 150,000 | 179,459 | ||||||
| CVS Health Corp. | ||||||||
| 3.250% 8/15/29 | 135,000 | 121,234 | ||||||
| 5.050% 3/25/48 | 823,000 | 758,594 | ||||||
| 5.625% 2/21/53 | 430,000 | 427,476 | ||||||
| 5.875% 6/01/53 | 230,000 | 235,854 | ||||||
| Gruenenthal GMBH | ||||||||
| 6.750% 5/15/30 EUR (a) (b) | 100,000 | 111,455 | ||||||
| Merck & Co., Inc. | ||||||||
| 5.000% 5/17/53 | 285,000 | 288,716 | ||||||
| Pfizer Investment Enterprises Pte. Ltd. | ||||||||
| 4.750% 5/19/33 | 280,000 | 278,945 | ||||||
| 5.300% 5/19/53 | 275,000 | 285,912 | ||||||
| Sanofi | ||||||||
| 2.500% 11/14/23 EUR (a) (b) | 100,000 | 108,541 | ||||||
| Teva Pharmaceutical Finance Netherlands III BV | ||||||||
| 7.875% 9/15/29 | 200,000 | 206,106 | ||||||
| Upjohn Finance BV | ||||||||
| 1.908% 6/23/32 EUR (a) (b) | 145,000 | 121,355 | ||||||
| Utah Acquisition Sub, Inc. | ||||||||
| 3.125% 11/22/28 EUR (a) (b) | 155,000 | 155,959 | ||||||
| 3.950% 6/15/26 | 1,030,000 | 978,280 | ||||||
| 6,921,165 | ||||||||
| Pipelines — 0.8% | ||||||||
| Boardwalk Pipelines LP | ||||||||
| 3.400% 2/15/31 | 890,000 | 764,494 | ||||||
| Cheniere Corpus Christi Holdings LLC | ||||||||
| 5.125% 6/30/27 | 140,000 | 137,628 | ||||||
| Energy Transfer LP | ||||||||
| 2.900% 5/15/25 | 185,000 | 175,284 | ||||||
| Enterprise Products Operating LLC | ||||||||
| 3.200% 2/15/52 | 260,000 | 182,614 | ||||||
| Kinetik Holdings LP | ||||||||
| 5.875% 6/15/30 (a) (c) | 90,000 | 85,544 | ||||||
| NuStar Logistics LP | ||||||||
| 5.750% 10/01/25 | 80,000 | 77,996 | ||||||
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. | ||||||||
| 7.500% 10/01/25 (a) | 110,000 | 109,789 | ||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
| 4.000% 1/15/32 | 125,000 | 108,054 | ||||||
| 4.875% 2/01/31 | 25,000 | 23,104 | ||||||
| 5.500% 3/01/30 | 150,000 | 144,356 | ||||||
| 6.875% 1/15/29 | 345,000 | 351,893 | ||||||
| Transcanada Trust 3 mo. CAD CDOR + 3.080% | ||||||||
| 4.650% VRN 5/18/77 CAD (b) | 650,000 | 436,102 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Transcontinental Gas Pipe Line Co. LLC | ||||||||
| 4.600% 3/15/48 | $ | 110,000 | $ | 93,499 | ||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875% 8/15/29 (a) | 55,000 | 48,047 | ||||||
| 3.875% 11/01/33 (a) | 80,000 | 65,511 | ||||||
| 4.125% 8/15/31 (a) | 65,000 | 55,898 | ||||||
| 6.250% 1/15/30 (a) | 115,000 | 114,073 | ||||||
| Venture Global LNG, Inc. | ||||||||
| 8.125% 6/01/28 (a) | 205,000 | 208,205 | ||||||
| 8.375% 6/01/31 (a) | 550,000 | 554,492 | ||||||
| Williams Cos., Inc. | ||||||||
| 3.750% 6/15/27 | 1,170,000 | 1,104,127 | ||||||
| 4,840,710 | ||||||||
| Real Estate — 0.2% | ||||||||
| Akelius Residential Property AB | ||||||||
| 1.750% 2/07/25 EUR (a) (b) | 170,000 | 173,133 | ||||||
| Blackstone Property Partners Europe Holdings Sarl | ||||||||
| 0.500% 9/12/23 EUR (a) (b) | 100,000 | 107,865 | ||||||
| 1.750% 3/12/29 EUR (a) (b) | 280,000 | 226,624 | ||||||
| CBRE Services, Inc. | ||||||||
| 5.950% 8/15/34 | 420,000 | 414,718 | ||||||
| Howard Hughes Corp. | ||||||||
| 5.375% 8/01/28 (a) | 40,000 | 35,603 | ||||||
| Logicor Financing Sarl | ||||||||
| 1.500% 7/13/26 EUR (a) (b) | 167,000 | 157,079 | ||||||
| Vonovia Finance BV | ||||||||
| 2.250% 12/15/23 EUR (a) (b) | 100,000 | 107,791 | ||||||
| 1,222,813 | ||||||||
| Real Estate Investment Trusts (REITS) — 1.4% | ||||||||
| Brixmor Operating Partnership LP | ||||||||
| 4.050% 7/01/30 | 585,000 | 527,299 | ||||||
| 4.125% 6/15/26 | 2,000,000 | 1,868,059 | ||||||
| 4.125% 5/15/29 | 160,000 | 142,719 | ||||||
| Crown Castle, Inc. | ||||||||
| 2.250% 1/15/31 | 715,000 | 582,754 | ||||||
| Essex Portfolio LP | ||||||||
| 4.000% 3/01/29 | 760,000 | 701,317 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 3.350% 9/01/24 | 125,000 | 120,658 | ||||||
| Healthcare Realty Holdings LP | ||||||||
| 2.050% 3/15/31 | 230,000 | 172,387 | ||||||
| 3.625% 1/15/28 | 850,000 | 752,082 | ||||||
| Inmobiliaria Colonial Socimi SA | ||||||||
| 1.625% 11/28/25 EUR (a) (b) | 200,000 | 204,667 | ||||||
| MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc. | ||||||||
| 5.750% 2/01/27 | 55,000 | 54,175 | ||||||
| Prologis LP | ||||||||
| 2.250% 6/30/29 GBP (b) | 150,000 | 152,529 | ||||||
| Realty Income Corp. | ||||||||
| 3.950% 8/15/27 | 650,000 | 617,329 | ||||||
| Regency Centers LP | ||||||||
| 3.600% 2/01/27 | 305,000 | 286,682 | ||||||
| 4.125% 3/15/28 | 815,000 | 761,172 | ||||||
| SBA Tower Trust | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 1.840% 4/15/27 (a) | $ | 635,000 | $ | 546,183 | ||||
| 2.593% 10/15/56 (a) | 515,000 | 407,917 | ||||||
| 7,897,929 | ||||||||
| Retail — 0.3% | ||||||||
| Bath & Body Works, Inc. | ||||||||
| 6.625% 10/01/30 (a) (c) | 90,000 | 86,885 | ||||||
| Lowe's Cos., Inc. | ||||||||
| 4.250% 4/01/52 | 265,000 | 216,208 | ||||||
| 5.625% 4/15/53 (c) | 195,000 | 194,883 | ||||||
| 5.750% 7/01/53 | 150,000 | 152,843 | ||||||
| Next Group PLC | ||||||||
| 3.625% 5/18/28 GBP (a) (b) | 250,000 | 278,803 | ||||||
| Ross Stores, Inc. | ||||||||
| 1.875% 4/15/31 | 535,000 | 422,139 | ||||||
| Yum! Brands, Inc. | ||||||||
| 5.375% 4/01/32 | 140,000 | 133,065 | ||||||
| 1,484,826 | ||||||||
| Savings & Loans — 0.1% | ||||||||
| Nationwide Building Society | ||||||||
| 3 mo. EUR EURIBOR + .930% 1.500% VRN 3/08/26 EUR (a) (b) | 140,000 | 144,299 | ||||||
| 5 yr. EUR Swap + 1.500% 2.000% VRN 7/25/29 EUR (a) (b) | 150,000 | 156,458 | ||||||
| 300,757 | ||||||||
| Semiconductors — 0.1% | ||||||||
| Entegris Escrow Corp. | ||||||||
| 5.950% 6/15/30 (a) | 55,000 | 52,725 | ||||||
| Micron Technology, Inc. | ||||||||
| 5.875% 9/15/33 | 330,000 | 327,008 | ||||||
| 6.750% 11/01/29 | 210,000 | 218,293 | ||||||
| 598,026 | ||||||||
| Software — 0.2% | ||||||||
| Central Parent, Inc./CDK Global, Inc. | ||||||||
| 7.250% 6/15/29 (a) (c) | 119,000 | 117,666 | ||||||
| Fiserv, Inc. | ||||||||
| 1.625% 7/01/30 EUR (b) | 100,000 | 92,733 | ||||||
| 3.000% 7/01/31 GBP (b) | 250,000 | 253,820 | ||||||
| 4.500% 5/24/31 EUR (b) | 200,000 | 219,028 | ||||||
| Oracle Corp. | ||||||||
| 5.550% 2/06/53 | 400,000 | 387,337 | ||||||
| Workday, Inc. | ||||||||
| 3.700% 4/01/29 (c) | 110,000 | 102,009 | ||||||
| 1,172,593 | ||||||||
| Telecommunications — 1.1% | ||||||||
| Altice France SA | ||||||||
| 3.375% 1/15/28 EUR (a) (b) | 135,000 | 107,169 | ||||||
| 5.500% 1/15/28 (a) | 290,000 | 218,981 | ||||||
| America Movil SAB de CV | ||||||||
| 5.750% 6/28/30 GBP (b) | 190,000 | 237,941 | ||||||
| AT&T, Inc. | ||||||||
| 3.500% 9/15/53 | 1,120,000 | 792,866 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Chorus Ltd. | ||||||||
| 3.625% 9/07/29 EUR (b) | $ | 215,000 | $ | 228,260 | ||||
| CK Hutchison Group Telecom Finance SA | ||||||||
| 0.375% 10/17/23 EUR (a) (b) | 109,000 | 117,644 | ||||||
| NBN Co. Ltd. | ||||||||
| 4.125% 3/15/29 EUR (a) (b) | 355,000 | 388,244 | ||||||
| Orange SA | ||||||||
| 0.750% 9/11/23 EUR (a) (b) | 100,000 | 108,458 | ||||||
| PLT VII Finance Sarl | ||||||||
| 4.625% 1/05/26 EUR (a) (b) | 100,000 | 105,819 | ||||||
| Rogers Communications, Inc. | ||||||||
| 3.200% 3/15/27 (a) | 185,000 | 171,994 | ||||||
| 3.800% 3/15/32 (a) | 295,000 | 257,866 | ||||||
| 4.350% 5/01/49 | 40,000 | 31,592 | ||||||
| 4.550% 3/15/52 (a) | 1,015,000 | 816,286 | ||||||
| Sprint Capital Corp. | ||||||||
| 6.875% 11/15/28 | 60,000 | 63,600 | ||||||
| T-Mobile USA, Inc. | ||||||||
| 5.750% 1/15/54 | 465,000 | 480,222 | ||||||
| TDC Net AS | ||||||||
| 5.618% 2/06/30 EUR (a) (b) | 370,000 | 395,389 | ||||||
| Tele2 AB | ||||||||
| 0.750% 3/23/31 EUR (a) (b) | 230,000 | 195,861 | ||||||
| Telstra Corp. Ltd. | ||||||||
| 1.000% 4/23/30 EUR (a) (b) | 260,000 | 238,575 | ||||||
| Verizon Communications, Inc. | ||||||||
| 2.550% 3/21/31 | 370,000 | 308,925 | ||||||
| 2.625% 12/01/31 EUR (b) | 235,000 | 230,310 | ||||||
| 2.650% 11/20/40 | 530,000 | 368,666 | ||||||
| 3.550% 3/22/51 | 535,000 | 399,082 | ||||||
| Vmed O2 U.K. Financing I PLC | ||||||||
| 4.500% 7/15/31 GBP (a) (b) | 150,000 | 144,039 | ||||||
| 4.500% 7/15/31 GBP (a) (b) | 155,000 | 148,840 | ||||||
| Vodafone Group PLC | ||||||||
| 1.750% 8/25/23 EUR (a) (b) | 113,000 | 122,907 | ||||||
| 6,679,536 | ||||||||
| Toys, Games & Hobbies — 0.0% | ||||||||
| Hasbro, Inc. | ||||||||
| 3.550% 11/19/26 | 245,000 | 227,617 | ||||||
| Transportation — 0.1% | ||||||||
| Brambles Finance PLC | ||||||||
| 4.250% 3/22/31 EUR (a) (b) | 280,000 | 306,252 | ||||||
| Deutsche Post AG | ||||||||
| 2.750% 10/09/23 EUR (a) (b) | 62,000 | 67,446 | ||||||
| InPost SA | ||||||||
| 2.250% 7/15/27 EUR (a) (b) | 100,000 | 94,234 | ||||||
| 467,932 | ||||||||
| Water — 0.1% | ||||||||
| Severn Trent Utilities Finance PLC | ||||||||
| 4.625% 11/30/34 GBP (a) (b) | 160,000 | 180,520 | ||||||
| Veolia Environnement SA | ||||||||
| 0.314% 10/04/23 EUR (a) (b) | 100,000 | 108,155 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 1.940% 1/07/30 EUR (a) (b) | $ | 200,000 | $ | 195,680 | ||||
| 484,355 | ||||||||
| TOTAL CORPORATE DEBT (Cost $146,917,383) | 134,582,125 | |||||||
| MUNICIPAL OBLIGATIONS — 0.1% | ||||||||
| Commonwealth of Puerto Rico, General Obligation | ||||||||
| 11/01/43 | 698,226 | 351,731 | ||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $383,503) | 351,731 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 6.2% | ||||||||
| Automobile Asset-Backed Securities — 1.4% | ||||||||
| AmeriCredit Automobile Receivables Trust | ||||||||
| Series 2020-3, Class D, 1.490% 9/18/26 | 275,000 | 254,411 | ||||||
| Series 2023-1, Class C, 5.800% 12/18/28 | 400,000 | 395,595 | ||||||
| CarMax Auto Owner Trust, Series 2022-1, Class D | ||||||||
| 2.470% 7/17/28 | 280,000 | 250,563 | ||||||
| Exeter Automobile Receivables Trust | ||||||||
| Series 2021-2A, Class D, 1.400% 4/15/27 | 235,000 | 218,141 | ||||||
| Series 2021-3A, Class D, 1.550% 6/15/27 | 195,000 | 178,773 | ||||||
| Series 2022-1A, Class D, 3.020% 6/15/28 | 995,000 | 918,873 | ||||||
| Series 2022-2A, Class C, 3.850% 7/17/28 | 820,000 | 793,657 | ||||||
| Series 2022-3A, Class C, 5.300% 9/15/27 | 520,000 | 510,087 | ||||||
| Series 2023-1A, Class D, 6.690% 6/15/29 | 85,000 | 83,223 | ||||||
| Ford Credit Auto Lease Trust, Series 2023-A, Class C | ||||||||
| 5.540% 12/15/26 | 850,000 | 821,942 | ||||||
| Ford Credit Auto Owner Trust | ||||||||
| Series 2023-1, Class A, 4.850% 8/15/35 (a) | 895,000 | 876,297 | ||||||
| Series 2022-C, Class C, 5.220% 3/15/30 | 200,000 | 193,918 | ||||||
| GMF Floorplan Owner Revolving Trust, Series 2020-2, Class C | ||||||||
| 1.310% 10/15/25 (a) | 290,000 | 285,222 | ||||||
| Santander Bank Auto Credit-Linked Notes, Series 2021-1A, Class B | ||||||||
| 1.833% 12/15/31 (a) | 89,425 | 85,993 | ||||||
| Santander Consumer Auto Receivables Trust, Series 2021-AA, Class D | ||||||||
| 1.570% 1/15/27 (a) | 735,000 | 672,732 | ||||||
| Santander Drive Auto Receivables Trust | ||||||||
| Series 2021-4, Class D, 1.670% 10/15/27 | 310,000 | 286,120 | ||||||
| Series 2022-6, Class B, 4.720% 6/15/27 | 850,000 | 833,066 | ||||||
| Santander Retail Auto Lease Trust, Series 2021-A, Class D | ||||||||
| 1.380% 3/22/27 (a) | 715,000 | 682,782 | ||||||
| 8,341,395 | ||||||||
| Commercial Mortgage-Backed Securities — 1.5% | ||||||||
| Austin Fairmont Hotel Trust, Series 2019-FAIR, Class B, 1 mo. USD LIBOR + 1.250% | ||||||||
| 6.443% FRN 9/15/32 (a) | 235,000 | 232,080 | ||||||
| Aventura Mall Trust, Series 2018-AVM, Class A, | ||||||||
| 4.249% VRN 7/05/40 (a) (f) | 380,000 | 343,012 | ||||||
| Barclays Commercial Mortgage Trust, Series 2019-BWAY, Class D, 1 mo. USD Term SOFR + 2.274% | ||||||||
| 7.422% FRN 11/15/34 (a) | 245,000 | 138,091 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2021-ARIA, Class B, 1 mo. USD LIBOR + 1.297% 6.490% FRN 10/15/36 (a) | 475,000 | 457,199 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2022-CSMO, Class B, 1 mo. USD Term SOFR + 3.141% 8.288% FRN 6/15/27 (a) | $ | 465,000 | $ | 462,676 | ||||
| BXSC Commercial Mortgage Trust, Series 2018, Class B, 1 mo. USD Term SOFR + 2.092% | ||||||||
| 7.239% FRN 3/15/35 (a) | 920,000 | 905,630 | ||||||
| Cantor Commercial Real Estate Lending, Series 2019-CF2, Class B | ||||||||
| 3.267% 11/15/52 | 295,000 | 231,052 | ||||||
| Citigroup Commercial Mortgage Trust | ||||||||
| Series 2013-375P, Class C, 3.635% VRN 5/10/35 (a) (f) | 390,000 | 340,621 | ||||||
| Series 2013-375P, Class D, 3.635% VRN 5/10/35 (a) (f) | 315,000 | 270,295 | ||||||
| COMM Mortgage Trust, Series 2015-LC23, Class AM, | ||||||||
| 4.158% VRN 10/10/48 (f) | 1,650,000 | 1,485,025 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2020-NET, Class A, 2.257% 8/15/37 (a) | 298,082 | 264,411 | ||||||
| Series 2020-NET, Class C, 3.526% 8/15/37 (a) | 480,000 | 417,680 | ||||||
| DC Office Trust, Series 2019-MTC, Class D, | ||||||||
| 3.174% VRN 9/15/45 (a) (f) | 520,000 | 347,052 | ||||||
| Great Wolf Trust | ||||||||
| Series 2019-WOLF, Class A, 1 mo. USD Term SOFR + 1.148% 6.296% FRN 12/15/36 (a) | 710,000 | 701,586 | ||||||
| Series 2019-WOLF, Class C, 1 mo. USD Term SOFR + 1.747% 6.895% FRN 12/15/36 (a) | 435,000 | 426,860 | ||||||
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-WPT, Class AFX | ||||||||
| 4.248% 7/05/33 (a) | 115,000 | 103,623 | ||||||
| VNDO Trust, Series 2016-350P, | ||||||||
| 4.033% VRN 1/10/35 (a) (f) | 215,000 | 186,770 | ||||||
| Wells Fargo Commercial Mortgage Trust | ||||||||
| Series 2017-C39, Class B, 4.025% 9/15/50 | 1,010,000 | 858,972 | ||||||
| Series 2021-SAVE, Class C, 1 mo. USD LIBOR + 1.800% 6.993% FRN 2/15/40 (a) | 368,154 | 331,604 | ||||||
| 8,504,239 | ||||||||
| Other Asset-Backed Securities — 2.1% | ||||||||
| 522 Funding CLO Ltd., Series 2019-5A, Class BR, 3 mo. USD Term SOFR + 1.850% | ||||||||
| 6.836% FRN 4/15/35 (a) | 465,000 | 437,815 | ||||||
| AGL CLO Ltd., Series 2022-17A, Class A, 3 mo. USD Term SOFR + 1.330% | ||||||||
| 6.386% FRN 1/21/35 (a) | 630,000 | 616,570 | ||||||
| Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class C | ||||||||
| 2.370% 4/20/28 (a) | 175,000 | 157,715 | ||||||
| Applebee's Funding LLC/IHOP Funding LLC, Series 2023-1A, Class A2 | ||||||||
| 7.824% 3/05/53 (a) | 270,000 | 266,072 | ||||||
| Carlyle U.S. CLO Ltd., Series 2019-4A, Class A11R, 3 mo. USD Term SOFR + 1.320% | ||||||||
| 6.306% FRN 4/15/35 (a) | 865,000 | 844,264 | ||||||
| CIFC Funding Ltd. | ||||||||
| Series 2021-3A, Class A, 3 mo. USD LIBOR + 1.140% 6.400% FRN 7/15/36 (a) | 585,000 | 575,745 | ||||||
| Series 2020-1A, Class A1R, 3 mo. USD LIBOR + 1.150% 6.410% FRN 7/15/36 (a) | 925,000 | 905,117 | ||||||
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class A2 | ||||||||
| 4.940% 1/25/52 CAD (a) (b) | 275,000 | 187,903 | ||||||
| Driven Brands Funding LLC | ||||||||
| Series 2020-2A, Class A2, 3.237% 1/20/51 (a) | 552,288 | 474,734 | ||||||
| Series 2020-1A, Class A2, 3.786% 7/20/50 (a) | 267,438 | 236,170 | ||||||
| Dryden CLO Ltd., Series 2020-86A, Class A1R, 3 mo. USD LIBOR + 1.100% | ||||||||
| 6.360% FRN 7/17/34 (a) | 600,000 | 589,559 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Hardee's Funding LLC | ||||||||
| Series 2021-1A, Class A2, 2.865% 6/20/51 (a) | $ | 294,000 | $ | 231,990 | ||||
| Series 2018-1A, Class AII, 4.959% 6/20/48 (a) | 309,563 | 288,405 | ||||||
| HPEFS Equipment Trust | ||||||||
| Series 2022-1A, Class C, 1.960% 5/21/29 (a) | 129,000 | 121,570 | ||||||
| Series 2022-1A, Class D, 2.400% 11/20/29 (a) | 350,000 | 322,420 | ||||||
| Series 2022-3A, Class C, 6.130% 8/20/29 (a) | 615,000 | 610,307 | ||||||
| HPS Loan Management Ltd. | ||||||||
| Series 2021-16A, Class A1, 3 mo. USD LIBOR + 1.140% 6.413% FRN 1/23/35 (a) | 290,000 | 283,552 | ||||||
| Series 11A-17, Class BR, 3 mo. USD LIBOR + 1.550% 6.874% FRN 5/06/30 (a) | 265,000 | 259,356 | ||||||
| Kubota Credit Owner Trust, Series 2023-1A, Class A4 | ||||||||
| 5.070% 2/15/29 (a) | 110,000 | 107,047 | ||||||
| Madison Park Funding XXXIII Ltd., Series 2019-33A, Class AR, 3 mo. USD Term SOFR + 1.290% | ||||||||
| 6.276% FRN 10/15/32 (a) | 465,000 | 458,232 | ||||||
| MVW Owner Trust, Series 2023-1A, Class A | ||||||||
| 4.930% 10/20/40 (a) | 598,828 | 587,162 | ||||||
| Neuberger Berman Loan Advisers CLO Ltd. | ||||||||
| Series 2019-32A, Class AR, 3 mo. USD LIBOR + .990% 6.255% FRN 1/20/32 (a) | 1,445,000 | 1,429,553 | ||||||
| Series 2021-43A, Class A, 3 mo. USD LIBOR + 1.130% 6.390% FRN 7/17/35 (a) | 685,000 | 674,280 | ||||||
| Octane Receivables Trust, Series 2023-1A, Class A | ||||||||
| 5.870% 5/21/29 (a) | 138,425 | 137,681 | ||||||
| OZLM Ltd., Series 2014-7RA, Class A1R, 3 mo. USD LIBOR + 1.010% | ||||||||
| 6.270% FRN 7/17/29 (a) | 178,958 | 178,088 | ||||||
| Palmer Square CLO Ltd., Series 2022-1A, Class A, 3 mo. USD Term SOFR + 1.320% | ||||||||
| 6.369% FRN 4/20/35 (a) | 480,000 | 467,830 | ||||||
| Symphony CLO XXXI Ltd., Series 2022-31A, Class B, 3 mo. USD Term SOFR + 1.850% | ||||||||
| 6.921% FRN 4/22/35 (a) | 410,000 | 395,396 | ||||||
| Verizon Master Trust, Series 2023-1, Class C | ||||||||
| 4.980% 1/22/29 | 250,000 | 243,627 | ||||||
| Wellfleet CLO Ltd., Series 2017-2A, Class A1R, 3 mo. USD LIBOR + 1.060% | ||||||||
| 6.310% FRN 10/20/29 (a) | 367,818 | 365,192 | ||||||
| 12,453,352 | ||||||||
| Student Loans Asset-Backed Securities — 0.3% | ||||||||
| Navient Private Education Refi Loan Trust, Series 2020-CA, Class B | ||||||||
| 2.830% 11/15/68 (a) | 470,000 | 371,868 | ||||||
| SMB Private Education Loan Trust | ||||||||
| Series 2020-BA, Class A1A, 1.290% 7/15/53 (a) | 168,755 | 150,199 | ||||||
| Series 2021-A, Class B, 2.310% 1/15/53 (a) | 570,000 | 512,598 | ||||||
| Series 2018-A, Class A2A, 3.500% 2/15/36 (a) | 553,037 | 530,736 | ||||||
| 1,565,401 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 0.7% | ||||||||
| Angel Oak Mortgage Trust | ||||||||
| Series 2020-5, Class A3, 2.041% VRN 5/25/65 (a) (f) | 58,655 | 53,192 | ||||||
| Series 2022-1, Class A1, 2.881% STEP 12/25/66 (a) | 298,149 | 261,722 | ||||||
| Series 2020-5, Class M1, 2.970% VRN 5/25/65 (a) (f) | 275,000 | 223,075 | ||||||
| BINOM Securitization Trust, Series 2021-INV1, Class A1, | ||||||||
| 2.034% VRN 6/25/56 (a) (f) | 281,361 | 239,161 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| CIM Trust, Series 2021-INV1, Class A29, | ||||||||
| 2.500% VRN 7/01/51 (a) (f) | $ | 586,293 | $ | 454,079 | ||||
| Citigroup Mortgage Loan Trust, Series 2022-INV1, Class A4B, | ||||||||
| 3.000% VRN 11/27/51 (a) (f) | 216,774 | 176,611 | ||||||
| COLT Mortgage Loan Trust, Series 2020-3, Class A1, | ||||||||
| 1.506% VRN 4/27/65 (a) (f) | 40,930 | 37,724 | ||||||
| Flagstar Mortgage Trust | ||||||||
| Series 2018-6RR, Class 2A4, 4.000% VRN 9/25/48 (a) (f) | 14,402 | 13,592 | ||||||
| Series 2020-1INV, Class A11, 1 mo. USD LIBOR + .850% 5.988% FRN 3/25/50 (a) | 83,809 | 77,893 | ||||||
| Galton Funding Mortgage Trust, Series 2018-1, Class A23, | ||||||||
| 3.500% VRN 11/25/57 (a) (f) | 20,306 | 18,035 | ||||||
| GS Mortgage-Backed Securities Trust, Series 2020-INV1, Class A14, | ||||||||
| 2.927% VRN 10/25/50 (a) (f) | 238,826 | 199,666 | ||||||
| Imperial Fund Mortgage Trust, Series 2021-NQM2, Class A1, | ||||||||
| 1.073% VRN 9/25/56 (a) (f) | 205,994 | 163,942 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2020-LTV1, Class B1, 3.286% VRN 6/25/50 (a) (f) | 352,932 | 285,938 | ||||||
| Series 2019-INV3, Class A3, 3.500% VRN 5/25/50 (a) (f) | 109,927 | 98,453 | ||||||
| Series 2020-LTV1, Class A3, 3.500% VRN 6/25/50 (a) (f) | 24,870 | 23,625 | ||||||
| Series 2020-INV1, Class A3, 3.500% VRN 8/25/50 (a) (f) | 94,688 | 83,320 | ||||||
| Series 2020-5, Class B2, 3.578% VRN 12/25/50 (a) (f) | 332,133 | 278,899 | ||||||
| Series 2020-INV1, Class A11, 1 mo. USD LIBOR + .830% 5.968% FRN 8/25/50 (a) | 59,969 | 56,492 | ||||||
| Onslow Bay Financial LLC | ||||||||
| Series 2020-EXP1, Class 1A8, 3.500% VRN 2/25/60 (a) (f) | 250,821 | 218,984 | ||||||
| Series 2019-INV2, Class A25, 4.000% VRN 5/27/49 (a) (f) | 103,077 | 94,408 | ||||||
| Sequoia Mortgage Trust | ||||||||
| Series 2017-CH1, Class A2, 3.500% VRN 8/25/47 (a) (f) | 42,931 | 38,979 | ||||||
| Series 2017-CH1, Class A13, 4.000% VRN 8/25/47 (a) (f) | 53,367 | 49,559 | ||||||
| Series 2018-CH3, Class A2, 4.000% VRN 8/25/48 (a) (f) | 8,466 | 8,108 | ||||||
| Series 2018-CH4, Class A2, 4.000% VRN 10/25/48 (a) (f) | 2,145 | 2,123 | ||||||
| SG Residential Mortgage Trust, Series 2019-3, Class A1, | ||||||||
| 2.703% VRN 9/25/59 (a) (f) | 11,794 | 11,357 | ||||||
| Towd Point Mortgage Trust, Series 2019-HY3, Class A1A, 1 mo. USD LIBOR + 1.000% | ||||||||
| 6.150% FRN 10/25/59 (a) | 105,540 | 104,549 | ||||||
| Verus Securitization Trust | ||||||||
| Series 2021-5, Class A2, 1.218% VRN 9/25/66 (a) (f) | 278,044 | 222,759 | ||||||
| Series 2019-4, Class A1, 2.642% STEP 11/25/59 (a) | 107,835 | 102,241 | ||||||
| Series 2022-1, Class A1, 2.724% STEP 1/25/67 (a) | 730,906 | 646,966 | ||||||
| Series 2020-INV1, Class A3, 3.889% VRN 3/25/60 (a) (f) | 100,000 | 94,879 | ||||||
| 4,340,331 | ||||||||
| Whole Loan Collateral Support Collateralized Mortgage Obligations — 0.2% | ||||||||
| Bayview MSR Opportunity Master Fund Trust, Series 2021-4, Class A20, | ||||||||
| 2.500% VRN 10/25/51 (a) (f) | 416,102 | 323,958 | ||||||
| GS Mortgage-Backed Securities Trust | ||||||||
| Series 2021-GR1, Class A4, 2.500% VRN 11/25/51 (a) (f) | 441,101 | 343,421 | ||||||
| Series 2021-GR2, Class A4, 2.500% VRN 2/25/52 (a) (f) | 453,490 | 353,067 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2019-INV3, Class A15, 3.500% VRN 5/25/50 (a) (f) | 94,633 | 84,512 | ||||||
| Series 2020-LTV1, Class A15, 3.500% VRN 6/25/50 (a) (f) | 10,631 | 10,082 | ||||||
| Sequoia Mortgage Trust | ||||||||
| Series 2018-CH1, Class A19, 4.000% VRN 3/25/48 (a) (f) | 68,310 | 62,393 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2018-CH2, Class A21, 4.000% VRN 6/25/48 (a) (f) | $ | 21,912 | $ | 19,959 | ||||
| 1,197,392 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $39,626,571) | 36,402,110 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 18.3% | ||||||||
| Albania Government International Bonds | ||||||||
| 3.500% 10/09/25 EUR (a) (b) | 160,000 | 166,742 | ||||||
| 3.500% 6/16/27 EUR (a) (b) | 105,000 | 105,410 | ||||||
| 3.500% 11/23/31 EUR (a) (b) | 490,000 | 443,406 | ||||||
| 5.900% 6/09/28 EUR (a) (b) | 410,000 | 437,102 | ||||||
| Australia Government International Bonds | ||||||||
| 3.000% 3/21/47 AUD (a) (b) | 738,000 | 393,471 | ||||||
| 4.500% 4/21/33 AUD (a) (b) | 3,453,000 | 2,386,367 | ||||||
| Austria Government Bonds | ||||||||
| 0.750% 3/20/51 EUR (a) (b) | 1,074,000 | 678,746 | ||||||
| Brazil Notas do Tesouro Nacional Serie B | ||||||||
| 6.000% 5/15/25 BRL (b) | 270,000 | 232,584 | ||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/27 BRL (b) | 2,855,000 | 564,024 | ||||||
| 10.000% 1/01/31 BRL (b) | 6,752,000 | 1,302,611 | ||||||
| Bulgaria Government International Bonds | ||||||||
| 4.500% 1/27/33 EUR (a) (b) | 230,000 | 248,184 | ||||||
| 4.500% 1/27/33 EUR (a) (b) | 485,000 | 523,345 | ||||||
| Bundesrepublik Deutschland Bundesanleihe | ||||||||
| 8/15/52EUR (a) (b) | 710,210 | 396,416 | ||||||
| Canadian Government International Bonds | ||||||||
| 1.250% 3/01/27 CAD (b) | 8,176,000 | 5,624,607 | ||||||
| 4.000% 12/01/31 CAD (b) | 1,750,445 | 1,577,165 | ||||||
| Chile Government International Bonds | ||||||||
| 4.125% 7/05/34 EUR (b) (d) | 170,000 | 183,881 | ||||||
| Colombia TES | ||||||||
| 6.000% 4/28/28 COP (b) | 1,597,700,000 | 328,246 | ||||||
| 7.000% 3/26/31 COP (b) | 2,550,000,000 | 515,199 | ||||||
| 13.250% 2/09/33 COP (b) | 50,100,000 | 14,083 | ||||||
| Cyprus Government International Bonds | ||||||||
| 0.950% 1/20/32 EUR (a) (b) | 610,000 | 532,639 | ||||||
| 2.750% 2/26/34 EUR (a) (b) | 93,000 | 90,538 | ||||||
| 2.750% 5/03/49 EUR (a) (b) | 99,000 | 88,557 | ||||||
| 3.750% 7/26/23 EUR (a) (b) | 120,000 | 130,683 | ||||||
| 3.750% 7/26/23 EUR (a) (b) | 100,000 | 108,903 | ||||||
| Czech Republic Government Bonds | ||||||||
| 1.500% 4/24/40 CZK (b) | 10,300,000 | 307,312 | ||||||
| 1.950% 7/30/37 CZK (b) | 7,880,000 | 271,822 | ||||||
| 2.750% 7/23/29 CZK (b) | 34,640,000 | 1,439,048 | ||||||
| Deutsche Bundesrepublik Inflation-Linked Bonds | ||||||||
| 0.100% 4/15/26 EUR (a) (b) | 2,410,349 | 2,569,243 | ||||||
| 0.500% 4/15/30 EUR (a) (b) | 2,034,182 | 2,259,033 | ||||||
| French Republic Government Bonds OAT | ||||||||
| 0.000% 5/25/32 EUR (a) (b) | 2,662,000 | 2,257,649 | ||||||
| 1.250% 5/25/36 EUR (a) (b) | 1,713,000 | 1,508,955 | ||||||
| Hellenic Republic Government Bonds | ||||||||
| 0.750% 6/18/31 EUR (a) (b) | 585,000 | 510,746 | ||||||
| Hungary Government International Bonds | ||||||||
| 2.250% 4/20/33 HUF (b) | 666,170,000 | 1,335,110 | ||||||
| 4.750% 11/24/32 HUF (b) | 53,110,000 | 131,659 | ||||||
| 5.000% 2/22/27 EUR (a) (b) | 247,000 | 270,822 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Iceland Government International Bonds | ||||||||
| 4/15/28EUR (a) (b) | $ | 346,000 | $ | 315,830 | ||||
| India Government International Bonds | ||||||||
| 7.260% 8/22/32 INR (b) | 94,100,000 | 1,155,370 | ||||||
| Indonesia Government International Bonds | ||||||||
| 3.750% 6/14/28 EUR (a) (b) | 1,280,000 | 1,384,026 | ||||||
| Indonesia Treasury Bonds | ||||||||
| 6.375% 8/15/28 IDR (b) | 11,696,000,000 | 795,071 | ||||||
| 6.375% 4/15/32 IDR (b) | 8,575,000,000 | 573,567 | ||||||
| 6.500% 2/15/31 IDR (b) | 20,656,000,000 | 1,388,149 | ||||||
| Ireland Government International Bonds | ||||||||
| 1.500% 5/15/50 EUR (a) (b) | 73,000 | 55,752 | ||||||
| 2.000% 2/18/45 EUR (a) (b) | 191,000 | 169,690 | ||||||
| Israel Government International Bonds | ||||||||
| 1.500% 1/18/27 EUR (a) (b) | 530,000 | 532,318 | ||||||
| 1.750% 8/31/25 ILS (b) | 4,274,000 | 1,109,809 | ||||||
| 3.750% 3/31/47 ILS (b) | 13,054,000 | 3,387,264 | ||||||
| 5.500% 1/31/42 ILS (b) | 3,138,000 | 1,029,273 | ||||||
| Italy Buoni Poliennali Del Tesoro | ||||||||
| 2.800% 3/01/67 EUR (a) (b) | 1,022,000 | 796,319 | ||||||
| 3.400% 4/01/28 EUR (a) (b) | 859,000 | 924,246 | ||||||
| 4.400% 5/01/33 EUR (a) (b) | 3,843,000 | 4,337,185 | ||||||
| Ivory Coast Government International Bonds | ||||||||
| 5.875% 10/17/31 EUR (a) (b) | 465,000 | 423,686 | ||||||
| Japan Government Ten Year Bonds | ||||||||
| 0.400% 3/20/25 JPY (b) | 336,200,000 | 2,349,194 | ||||||
| Japan Government Thirty Year Bonds | ||||||||
| 0.700% 12/20/51 JPY (b) | 20,300,000 | 122,287 | ||||||
| 1.000% 3/20/52 JPY (b) | 329,400,000 | 2,144,644 | ||||||
| 1.300% 6/20/52 JPY (b) | 221,250,000 | 1,549,984 | ||||||
| 1.400% 9/20/52 JPY (b) | 234,950,000 | 1,686,716 | ||||||
| 1.700% 9/20/44 JPY (b) | 245,550,000 | 1,912,583 | ||||||
| Japanese Government CPI-Linked Bond | ||||||||
| 0.005% 3/10/31 JPY (b) | 195,680,316 | 1,456,465 | ||||||
| 0.100% 3/10/24 JPY (b) | 111,901,600 | 790,240 | ||||||
| 0.100% 9/10/24 JPY (b) | 294,705,400 | 2,098,547 | ||||||
| 0.100% 3/10/25 JPY (b) | 264,791,300 | 1,893,791 | ||||||
| Latvia Government International Bonds | ||||||||
| 0.375% 10/07/26 EUR (a) (b) | 2,114,000 | 2,068,229 | ||||||
| Malaysia Government International Bonds | ||||||||
| 4.065% 6/15/50 MYR (b) | 2,120,000 | 442,104 | ||||||
| 4.642% 11/07/33 MYR (b) | 1,255,000 | 285,506 | ||||||
| 4.736% 3/15/46 MYR (b) | 5,640,000 | 1,299,439 | ||||||
| 4.921% 7/06/48 MYR (b) | 6,150,000 | 1,462,647 | ||||||
| 4.935% 9/30/43 MYR (b) | 325,000 | 77,017 | ||||||
| Mexican Bonos | ||||||||
| 7.500% 5/26/33 MXN (b) | 23,866,000 | 1,283,636 | ||||||
| 8.500% 5/31/29 MXN (b) | 4,567,000 | 264,161 | ||||||
| 8.500% 11/18/38 MXN (b) | 18,900,000 | 1,075,435 | ||||||
| New South Wales Treasury Corp. | ||||||||
| 4.000% 5/20/26 AUD (a) (b) | 860,000 | 567,546 | ||||||
| 4.000% 5/20/26 AUD (a) (b) | 680,000 | 448,758 | ||||||
| New Zealand Government International Bonds | ||||||||
| 3.500% 4/14/33 NZD (a) (b) | 2,211,000 | 1,236,901 | ||||||
| North Macedonia Government International Bonds | ||||||||
| 6.960% 3/13/27 EUR (a) (b) | 150,000 | 166,826 | ||||||
| Norway Government International Bonds | ||||||||
| 3.000% 3/14/24 NOK (a) (b) | 2,700,000 | 249,700 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Philippines Government International Bonds | ||||||||
| 0.250% 4/28/25 EUR (b) | $ | 125,000 | $ | 126,852 | ||||
| Province of Ontario Canada | ||||||||
| 3.500% 6/02/43 CAD (b) | 76,000 | 52,414 | ||||||
| 3.500% 6/02/43 CAD (b) | 62,000 | 42,759 | ||||||
| Romania Government International Bonds | ||||||||
| 2.125% 3/07/28 EUR (a) (b) | 430,000 | 406,501 | ||||||
| 2.875% 10/28/24 EUR (a) (b) | 100,000 | 107,250 | ||||||
| 2.875% 5/26/28 EUR (a) (b) | 560,000 | 547,238 | ||||||
| 3.624% 5/26/30 EUR (a) (b) | 509,000 | 485,971 | ||||||
| 4.750% 10/11/34 RON (b) | 5,975,000 | 1,098,984 | ||||||
| Senegal Government International Bonds | ||||||||
| 1.000% 9/23/28 EUR (a) (b) | 850,000 | 716,509 | ||||||
| 1.500% 6/26/29 EUR (a) (b) | 282,000 | 237,477 | ||||||
| 1.650% 3/03/33 EUR (a) (b) | 435,000 | 315,904 | ||||||
| 2.050% 9/23/36 EUR (a) (b) | 280,000 | 186,896 | ||||||
| 2.050% 9/23/36 EUR (a) (b) | 375,000 | 250,308 | ||||||
| 4.750% 3/13/28 EUR (a) (b) | 180,000 | 168,723 | ||||||
| 5.375% 6/08/37 EUR (a) (b) | 255,000 | 185,319 | ||||||
| Serbia Treasury Bonds | ||||||||
| 4.500% 8/20/32 RSD (b) | 22,500,000 | 183,979 | ||||||
| Singapore Government International Bonds | ||||||||
| 0.500% 11/01/25 SGD (b) | 1,350,000 | 931,544 | ||||||
| 1.625% 7/01/31 SGD (b) | 1,248,000 | 828,216 | ||||||
| 2.375% 6/01/25 SGD (b) | 480,000 | 347,017 | ||||||
| 2.875% 7/01/29 SGD (b) | 4,270,000 | 3,114,726 | ||||||
| Slovenia Government International Bonds | ||||||||
| 0.000% 2/12/31 EUR (a) (b) | 155,000 | 132,087 | ||||||
| 1.500% 3/25/35 EUR (a) (b) | 243,000 | 212,853 | ||||||
| 1.750% 11/03/40 EUR (a) (b) | 450,000 | 371,704 | ||||||
| 2.250% 3/03/32 EUR (a) (b) | 170,000 | 171,248 | ||||||
| 3.125% 8/07/45 EUR (a) (b) | 1,035,000 | 1,048,212 | ||||||
| South Africa Government International Bonds | ||||||||
| 7.000% 2/28/31 ZAR (b) | 24,785,000 | 1,053,358 | ||||||
| 10.500% 12/21/26 ZAR (b) | 12,923,000 | 712,675 | ||||||
| Spain Government International Bonds | ||||||||
| 1/31/28EUR (a) (b) | 1,726,000 | 1,626,062 | ||||||
| Sweden Government International Bonds | ||||||||
| 2.250% 6/01/32 SEK (a) (b) | 33,150,000 | 2,999,109 | ||||||
| Thailand Government International Bonds | ||||||||
| 2.000% 12/17/31 THB (b) | 84,934,000 | 2,311,798 | ||||||
| 3.650% 6/20/31 THB (b) | 19,528,000 | 596,850 | ||||||
| U.K. Inflation-Linked Gilts | ||||||||
| 0.125% 3/22/26 GBP (a) (b) | 861,399 | 1,055,687 | ||||||
| 0.125% 8/10/28 GBP (a) (b) | 2,852,990 | 3,483,897 | ||||||
| 0.625% 6/07/25 GBP (a) (b) | 1,393,000 | 1,620,150 | ||||||
| 0.625% 10/22/50 GBP (a) (b) | 578,000 | 297,780 | ||||||
| 1.500% 7/22/26 GBP (a) (b) | 3,289,000 | 3,762,560 | ||||||
| 4.250% 12/07/46 GBP (a) (b) | 209,000 | 255,683 | ||||||
| 107,363,114 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $117,724,344) | 107,290,519 | |||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| U.S. Government Agency Obligations and Instrumentalities (g) — 26.4% | ||||||||
| Collateralized Mortgage Obligations — 0.0% | ||||||||
| Federal Home Loan Mortgage Corp. REMICS Series 4977, Class IO 4.500% 5/25/50 | $ | 241,254 | $ | 45,235 | ||||
| Government National Mortgage Association Series 2022-63, Class LM 3.500% 10/20/50 | 260,000 | 222,010 | ||||||
| 267,245 | ||||||||
| Pass-Through Securities — 26.0% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #SB8147 1.500% 4/01/37 | 321,555 | 277,295 | ||||||
| Pool #RB5148 2.000% 3/01/42 | 841,444 | 710,680 | ||||||
| Pool #RA3046 2.000% 7/01/50 | 25,989 | 21,390 | ||||||
| Pool #SD8128 2.000% 2/01/51 (d) | 1,571,891 | 1,286,842 | ||||||
| Pool #SD8140 2.000% 4/01/51 | 329,504 | 269,751 | ||||||
| Pool #RA5258 2.000% 5/01/51 | 834,368 | 681,237 | ||||||
| Pool #SD8146 2.000% 5/01/51 | 513,011 | 419,018 | ||||||
| Pool #QC2565 2.000% 6/01/51 | 30,956 | 25,285 | ||||||
| Pool #RA6505 2.000% 12/01/51 | 1,428,327 | 1,169,312 | ||||||
| Pool #QD9658 2.000% 2/01/52 | 33,452 | 27,271 | ||||||
| Pool #SD1217 2.000% 3/01/52 | 236,583 | 194,494 | ||||||
| Pool #SD8199 2.000% 3/01/52 | 223,569 | 182,398 | ||||||
| Pool #SD8204 2.000% 4/01/52 | 217,915 | 177,785 | ||||||
| Pool #RA7324 2.000% 5/01/52 | 143,198 | 117,543 | ||||||
| Pool #RB5149 2.500% 3/01/42 | 655,056 | 574,409 | ||||||
| Pool #SD8089 2.500% 7/01/50 | 145,000 | 123,478 | ||||||
| Pool #SD8099 2.500% 10/01/50 | 152,351 | 129,666 | ||||||
| Pool #SD7535 2.500% 2/01/51 | 1,233,983 | 1,061,045 | ||||||
| Pool #QC1292 2.500% 5/01/51 | 19,429 | 16,475 | ||||||
| Pool #QC3425 2.500% 6/01/51 | 220,339 | 186,774 | ||||||
| Pool #QC2902 2.500% 6/01/51 | 37,857 | 32,551 | ||||||
| Pool #QC5575 2.500% 8/01/51 | 76,584 | 64,918 | ||||||
| Pool #RA6623 2.500% 1/01/52 | 1,075,412 | 918,311 | ||||||
| Pool #SD8200 2.500% 3/01/52 | 669,427 | 568,078 | ||||||
| Pool #SD8212 2.500% 5/01/52 | 2,731,078 | 2,315,682 | ||||||
| Pool #ZS7930 3.000% 1/01/33 | 372,734 | 353,054 | ||||||
| Pool #RB5162 3.000% 6/01/42 | 115,905 | 104,264 | ||||||
| Pool #RB5166 3.000% 7/01/42 | 65,073 | 58,538 | ||||||
| Pool #RB5173 3.000% 8/01/42 | 55,402 | 49,838 | ||||||
| Pool #SD1497 3.000% 4/01/43 | 301,951 | 274,058 | ||||||
| Pool #ZS4693 3.000% 12/01/46 | 68,888 | 61,603 | ||||||
| Pool #G08756 3.000% 4/01/47 | 29,306 | 26,238 | ||||||
| Pool #SD0080 3.000% 9/01/49 | 131,209 | 117,704 | ||||||
| Pool #SD7531 3.000% 12/01/50 | 155,106 | 138,365 | ||||||
| Pool #RA6348 3.000% 11/01/51 | 427,130 | 376,890 | ||||||
| Pool #QD8560 3.000% 3/01/52 | 384,989 | 338,894 | ||||||
| Pool #SD8220 3.000% 6/01/52 | 638,024 | 561,833 | ||||||
| Pool #QE4043 3.000% 6/01/52 | 458,709 | 403,787 | ||||||
| Pool #SD7555 3.000% 8/01/52 | 900,138 | 800,733 | ||||||
| Pool #SB0015 3.500% 6/01/33 | 133,788 | 127,865 | ||||||
| Pool #U90690 3.500% 6/01/42 | 46,524 | 42,985 | ||||||
| Pool #U99051 3.500% 6/01/43 | 46,629 | 43,080 | ||||||
| Pool #ZM3532 3.500% 6/01/47 | 177,566 | 164,010 | ||||||
| Pool #ZT0179 3.500% 11/01/47 | 283,188 | 263,338 | ||||||
| Pool #RA1202 3.500% 8/01/49 | 108,474 | 100,303 | ||||||
| Pool #SD0212 3.500% 12/01/49 | 149,327 | 137,985 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #SD1361 3.500% 2/01/50 | $ | 803,471 | $ | 747,403 | ||||
| Pool #SD0617 3.500% 11/01/50 | 101,170 | 93,423 | ||||||
| Pool #SB8171 4.000% 6/01/37 | 62,432 | 60,366 | ||||||
| Pool #SB0727 4.000% 8/01/37 | 220,281 | 213,335 | ||||||
| Pool #RA1906 4.000% 12/01/49 | 193,107 | 184,001 | ||||||
| Pool #SD8039 4.000% 1/01/50 | 230,404 | 218,099 | ||||||
| Pool #SD1035 4.000% 5/01/52 | 217,836 | 204,654 | ||||||
| Pool #SD0422 4.500% 7/01/45 | 114,001 | 111,880 | ||||||
| Pool #RA2607 4.500% 5/01/50 | 47,163 | 45,846 | ||||||
| Pool #ZS3941 5.000% 12/01/41 | 35,147 | 35,305 | ||||||
| Pool #QF0658 5.000% 8/01/52 | 758,293 | 746,080 | ||||||
| Pool #QF1305 5.000% 10/01/52 | 69,352 | 68,018 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4581 1.500% 4/01/37 | 660,248 | 569,989 | ||||||
| Pool #MA4601 1.500% 5/01/37 | 552,693 | 476,619 | ||||||
| Pool #FS2037 1.500% 5/01/37 | 775,956 | 669,151 | ||||||
| Pool #MA4519 1.500% 1/01/42 | 579,272 | 473,323 | ||||||
| Pool #MA4582 2.000% 4/01/37 | 278,027 | 246,329 | ||||||
| Pool #MA4602 2.000% 5/01/37 | 1,413,933 | 1,252,728 | ||||||
| Pool #MA4586 2.000% 4/01/42 | 987,640 | 834,157 | ||||||
| Pool #FS2763 2.000% 8/01/42 | 47,998 | 40,539 | ||||||
| Pool #CA6587 2.000% 8/01/50 | 112,902 | 92,922 | ||||||
| Pool #MA4158 2.000% 10/01/50 | 268,096 | 219,814 | ||||||
| Pool #MA4237 2.000% 1/01/51 (d) | 2,882,081 | 2,359,440 | ||||||
| Pool #MA4255 2.000% 2/01/51 (d) | 1,678,622 | 1,374,218 | ||||||
| Pool #MA4281 2.000% 3/01/51 (d) | 1,825,000 | 1,494,051 | ||||||
| Pool #MA4325 2.000% 5/01/51 | 3,356,786 | 2,741,767 | ||||||
| Pool #CB2357 2.000% 12/01/51 | 1,175,469 | 962,307 | ||||||
| Pool #CB2766 2.000% 2/01/52 | 358,199 | 293,019 | ||||||
| Pool #CB2848 2.000% 2/01/52 | 578,174 | 472,966 | ||||||
| Pool #FS0733 2.000% 2/01/52 | 516,825 | 424,556 | ||||||
| Pool #MA4547 2.000% 2/01/52 | 580,369 | 473,673 | ||||||
| Pool #FS1618 2.000% 3/01/52 | 266,642 | 218,872 | ||||||
| Pool #MA4562 2.000% 3/01/52 | 5,617,079 | 4,582,671 | ||||||
| Pool #FS1571 2.000% 4/01/52 | 25,385 | 20,710 | ||||||
| Pool #MA4577 2.000% 4/01/52 | 619,293 | 505,248 | ||||||
| Pool #MA4622 2.000% 6/01/52 | 687,107 | 560,359 | ||||||
| Pool #BM3859 2.500% 8/01/31 | 86,494 | 80,658 | ||||||
| Pool #BC9043 2.500% 11/01/31 | 262,842 | 244,944 | ||||||
| Pool #BM1890 2.500% 1/01/32 | 61,775 | 57,645 | ||||||
| Pool #CB3210 2.500% 3/01/37 | 1,584,062 | 1,442,040 | ||||||
| Pool #MA4628 2.500% 6/01/37 | 489,163 | 445,612 | ||||||
| Pool #MA4665 2.500% 7/01/37 | 405,082 | 368,764 | ||||||
| Pool #CB4726 2.500% 9/01/37 | 128,004 | 116,728 | ||||||
| Pool #MA4326 2.500% 5/01/51 | 903,453 | 767,521 | ||||||
| Pool #CB0414 2.500% 5/01/51 | 85,056 | 72,258 | ||||||
| Pool #BT1265 2.500% 6/01/51 | 332,320 | 281,696 | ||||||
| Pool #BT0163 2.500% 6/01/51 | 51,085 | 43,926 | ||||||
| Pool #CB1331 2.500% 8/01/51 | 725,871 | 616,204 | ||||||
| Pool #CB1280 2.500% 8/01/51 | 64,579 | 54,822 | ||||||
| Pool #CB1783 2.500% 10/01/51 | 1,471,904 | 1,250,903 | ||||||
| Pool #CB1866 2.500% 10/01/51 | 1,114,824 | 947,437 | ||||||
| Pool #CB2638 2.500% 1/01/52 | 1,241,556 | 1,055,141 | ||||||
| Pool #CB2635 2.500% 1/01/52 | 1,206,646 | 1,023,964 | ||||||
| Pool #CB2538 2.500% 1/01/52 | 1,064,221 | 908,755 | ||||||
| Pool #MA4512 2.500% 1/01/52 | 30,460 | 25,849 | ||||||
| Pool #CB2804 2.500% 2/01/52 | 730,345 | 623,197 | ||||||
| Pool #FS4283 2.500% 3/01/52 | 59,641 | 50,630 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FS2573 2.500% 3/01/52 | $ | 84,055 | $ | 71,959 | ||||
| Pool #MA4578 2.500% 4/01/52 | 1,693,676 | 1,436,069 | ||||||
| Pool #AS7056 3.000% 4/01/31 | 197,775 | 188,136 | ||||||
| Pool #BM5111 3.000% 11/01/33 | 94,275 | 89,297 | ||||||
| Pool #CA4885 3.000% 12/01/34 | 354,262 | 332,568 | ||||||
| Pool #BO7256 3.000% 1/01/35 | 179,036 | 168,016 | ||||||
| Pool #FM2547 3.000% 2/01/35 | 109,309 | 102,615 | ||||||
| Pool #FM8540 3.000% 11/01/35 | 195,831 | 185,858 | ||||||
| Pool #AL9412 3.000% 11/01/36 | 205,442 | 192,448 | ||||||
| Pool #CA5597 3.000% 4/01/40 | 821,375 | 755,823 | ||||||
| Pool #MA4632 3.000% 6/01/42 | 29,983 | 26,972 | ||||||
| Pool #MA4695 3.000% 7/01/42 | 174,123 | 156,635 | ||||||
| Pool #BM4221 3.000% 1/01/43 | 119,442 | 108,268 | ||||||
| Pool #BM5468 3.000% 2/01/43 | 181,927 | 164,895 | ||||||
| Pool #AB9248 3.000% 5/01/43 | 45,765 | 41,500 | ||||||
| Pool #AU1629 3.000% 7/01/43 | 13,153 | 11,897 | ||||||
| Pool #AS0406 3.000% 9/01/43 | 74,294 | 67,552 | ||||||
| Pool #BM5469 3.000% 3/01/44 | 333,387 | 302,112 | ||||||
| Pool #BM3380 3.000% 6/01/46 | 300,528 | 272,317 | ||||||
| Pool #MA2670 3.000% 7/01/46 | 105,910 | 94,909 | ||||||
| Pool #AS8295 3.000% 11/01/46 | 264,943 | 239,079 | ||||||
| Pool #MA2806 3.000% 11/01/46 | 200,689 | 179,467 | ||||||
| Pool #BD8462 3.000% 11/01/46 | 1,165,163 | 1,048,870 | ||||||
| Pool #FM1000 3.000% 4/01/47 | 166,992 | 149,333 | ||||||
| Pool #MA2956 3.000% 4/01/47 | 131,636 | 117,716 | ||||||
| Pool #BM1418 3.000% 4/01/47 | 1,337,637 | 1,204,130 | ||||||
| Pool #BM4744 3.000% 6/01/47 | 114,692 | 103,496 | ||||||
| Pool #FM1572 3.000% 9/01/48 | 238,073 | 212,897 | ||||||
| Pool #FM5499 3.000% 2/01/49 | 156,149 | 139,637 | ||||||
| Pool #FM1445 3.000% 8/01/49 | 112,438 | 100,865 | ||||||
| Pool #CA4108 3.000% 9/01/49 | 733,762 | 656,399 | ||||||
| Pool #FM2870 3.000% 3/01/50 | 203,925 | 182,233 | ||||||
| Pool #CA5540 3.000% 4/01/50 | 13,481 | 12,013 | ||||||
| Pool #CA6314 3.000% 7/01/50 | 186,347 | 164,662 | ||||||
| Pool #CA6738 3.000% 8/01/50 | 222,941 | 197,694 | ||||||
| Pool #BQ1348 3.000% 8/01/50 | 120,769 | 107,092 | ||||||
| Pool #BQ5052 3.000% 9/01/50 | 6,805 | 6,045 | ||||||
| Pool #FM7072 3.000% 4/01/51 | 660,866 | 588,504 | ||||||
| Pool #CB2432 3.000% 12/01/51 | 28,838 | 25,389 | ||||||
| Pool #FM3462 3.500% 12/01/33 | 290,150 | 277,930 | ||||||
| Pool #AS4449 3.500% 2/01/35 | 95,327 | 90,939 | ||||||
| Pool #FM3340 3.500% 5/01/35 | 8,730 | 8,319 | ||||||
| Pool #FM8137 3.500% 9/01/35 | 92,866 | 89,100 | ||||||
| Pool #MA1283 3.500% 12/01/42 | 38,973 | 35,951 | ||||||
| Pool #MA1373 3.500% 3/01/43 | 59,735 | 55,084 | ||||||
| Pool #MA1437 3.500% 5/01/43 | 55,706 | 51,353 | ||||||
| Pool #MA1546 3.500% 8/01/43 | 134,827 | 125,249 | ||||||
| Pool #AL6167 3.500% 1/01/44 | 534,347 | 492,770 | ||||||
| Pool #AS5182 3.500% 6/01/45 | 347,110 | 322,128 | ||||||
| Pool #BC1747 3.500% 1/01/46 | 883,846 | 819,683 | ||||||
| Pool #BM5785 3.500% 9/01/46 | 90,304 | 83,805 | ||||||
| Pool #FS1400 3.500% 7/01/47 | 23,646 | 22,057 | ||||||
| Pool #BM4582 3.500% 8/01/47 | 102,003 | 94,917 | ||||||
| Pool #BM3122 3.500% 10/01/47 | 1,021,942 | 950,309 | ||||||
| Pool #CA0858 3.500% 12/01/47 | 47,283 | 43,658 | ||||||
| Pool #MA3210 3.500% 12/01/47 | 32,579 | 30,081 | ||||||
| Pool #MA3238 3.500% 1/01/48 | 199,512 | 184,217 | ||||||
| Pool #BH9277 3.500% 2/01/48 | 354,455 | 327,283 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FM1001 3.500% 11/01/48 | $ | 42,662 | $ | 39,405 | ||||
| Pool #FM8196 3.500% 12/01/48 | 709,078 | 654,944 | ||||||
| Pool #FM3972 3.500% 7/01/50 | 240,085 | 220,499 | ||||||
| Pool #FM8086 3.500% 7/01/51 | 115,130 | 105,045 | ||||||
| Pool #MA4514 3.500% 1/01/52 | 493,150 | 449,647 | ||||||
| Pool #BV3533 3.500% 2/01/52 | 39,644 | 36,131 | ||||||
| Pool #FS1694 4.000% 7/01/35 | 120,483 | 117,211 | ||||||
| Pool #FS1883 4.000% 6/01/37 | 130,773 | 126,486 | ||||||
| Pool #BF0198 4.000% 11/01/40 | 95,914 | 91,921 | ||||||
| Pool #MA0639 4.000% 2/01/41 | 310,500 | 298,065 | ||||||
| Pool #BM3385 4.000% 6/01/45 | 508,393 | 485,491 | ||||||
| Pool #FS1042 4.000% 9/01/45 | 500,201 | 480,084 | ||||||
| Pool #FM2673 4.000% 10/01/45 | 768,475 | 737,427 | ||||||
| Pool #AL8387 4.000% 3/01/46 | 548,888 | 523,990 | ||||||
| Pool #FS2119 4.000% 3/01/46 | 88,576 | 85,005 | ||||||
| Pool #MA3088 4.000% 8/01/47 | 29,479 | 28,096 | ||||||
| Pool #MA3121 4.000% 9/01/47 | 268,698 | 256,090 | ||||||
| Pool #MA3467 4.000% 9/01/48 | 3,780 | 3,596 | ||||||
| Pool #BM5527 4.000% 10/01/48 | 89,867 | 85,735 | ||||||
| Pool #BM5147 4.000% 10/01/48 | 23,395 | 22,473 | ||||||
| Pool #FM3664 4.000% 3/01/49 | 358,752 | 341,246 | ||||||
| Pool #CA3503 4.000% 5/01/49 | 50,337 | 47,771 | ||||||
| Pool #CA4571 4.000% 11/01/49 | 77,290 | 73,210 | ||||||
| Pool #CA4823 4.000% 12/01/49 | 105,778 | 100,162 | ||||||
| Pool #FS1792 4.000% 5/01/52 | 214,698 | 201,722 | ||||||
| Pool #CB4379 4.000% 8/01/52 | 207,501 | 194,814 | ||||||
| Pool #MA4700 4.000% 8/01/52 | 57,335 | 53,829 | ||||||
| Pool #MA4732 4.000% 9/01/52 | 270,906 | 254,258 | ||||||
| Pool #AL0065 4.500% 4/01/41 | 177,867 | 174,731 | ||||||
| Pool #AI1888 4.500% 5/01/41 | 196,740 | 193,300 | ||||||
| Pool #AL0160 4.500% 5/01/41 | 257,183 | 252,578 | ||||||
| Pool #AL6536 4.500% 3/01/45 | 268,104 | 263,949 | ||||||
| Pool #BM4185 4.500% 9/01/46 | 147,980 | 145,687 | ||||||
| Pool #FM2899 4.500% 11/01/46 | 330,348 | 324,318 | ||||||
| Pool #FM5708 4.500% 5/01/47 | 162,747 | 159,904 | ||||||
| Pool #BM3148 4.500% 11/01/47 | 134,144 | 131,856 | ||||||
| Pool #BM4343 4.500% 5/01/48 | 136,877 | 134,457 | ||||||
| Pool #CA2207 4.500% 8/01/48 | 29,124 | 28,427 | ||||||
| Pool #CA5186 4.500% 1/01/50 | 24,965 | 24,291 | ||||||
| Pool #CA5696 4.500% 5/01/50 | 75,488 | 72,783 | ||||||
| Pool #MA4656 4.500% 7/01/52 | 78,581 | 75,540 | ||||||
| Pool #MA4701 4.500% 8/01/52 | 583,711 | 561,122 | ||||||
| Pool #MA4805 4.500% 11/01/52 | 207,267 | 199,181 | ||||||
| Pool #AD6438 5.000% 6/01/40 | 46,011 | 46,217 | ||||||
| Pool #FM8543 5.000% 11/01/44 | 191,058 | 192,069 | ||||||
| Pool #AL9893 5.000% 2/01/45 | 250,294 | 252,129 | ||||||
| Pool #FM4212 5.000% 12/01/47 | 388,992 | 387,918 | ||||||
| Pool #FS1510 5.000% 10/01/48 | 290,106 | 291,205 | ||||||
| Pool #FS2620 5.000% 8/01/52 | 45,024 | 44,201 | ||||||
| Pool #BW7752 5.000% 10/01/52 | 99,070 | 97,165 | ||||||
| Pool #BM3279 5.500% 5/01/44 | 595,647 | 603,652 | ||||||
| Pool #BM4971 6.000% 7/01/41 | 174,690 | 179,569 | ||||||
| Pool #MA4876 6.000% 12/01/52 | 621,698 | 627,393 | ||||||
| Pool #FS3820 6.000% 1/01/53 | 763,347 | 781,552 | ||||||
| Pool #CB5702 6.000% 2/01/53 | 824,781 | 844,709 | ||||||
| Government National Mortgage Association Pool #AA5821 3.000% 11/15/42 | 38,282 | 34,750 | ||||||
| Government National Mortgage Association II | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA7736 1.500% 12/20/36 | $ | 69,295 | $ | 59,671 | ||||
| Pool #MA7796 1.500% 1/20/37 | 88,931 | 76,579 | ||||||
| Pool #MA7851 1.500% 2/20/37 | 174,673 | 150,412 | ||||||
| Pool #MA8015 1.500% 5/20/37 | 149,857 | 128,715 | ||||||
| Pool #MA7254 2.000% 3/20/51 | 508,088 | 427,605 | ||||||
| Pool #MA7471 2.000% 7/20/51 | 1,765,776 | 1,485,241 | ||||||
| Pool #MA7533 2.000% 8/20/51 | 2,467,216 | 2,075,241 | ||||||
| Pool #MA7826 2.000% 1/20/52 | 775,466 | 650,811 | ||||||
| Pool #MA7935 2.000% 3/20/52 | 1,303,157 | 1,093,676 | ||||||
| Pool #MA6819 2.500% 8/20/50 | 309,833 | 269,980 | ||||||
| Pool #MA7472 2.500% 7/20/51 | 722,317 | 626,136 | ||||||
| Pool #MA7589 2.500% 9/20/51 | 374,535 | 324,546 | ||||||
| Pool #MA7649 2.500% 10/20/51 | 2,393,504 | 2,074,046 | ||||||
| Pool #MA7705 2.500% 11/20/51 | 604,070 | 523,399 | ||||||
| Pool #MA7767 2.500% 12/20/51 | 1,282,517 | 1,110,439 | ||||||
| Pool #MA7936 2.500% 3/20/52 | 1,264,476 | 1,094,029 | ||||||
| Pool #MA2600 3.000% 2/20/45 | 75,364 | 68,608 | ||||||
| Pool #MA2891 3.000% 6/20/45 | 613,214 | 557,859 | ||||||
| Pool #MA3662 3.000% 5/20/46 | 97,974 | 88,885 | ||||||
| Pool #MA3802 3.000% 7/20/46 | 46,599 | 42,218 | ||||||
| Pool #MA3873 3.000% 8/20/46 | 270,547 | 245,110 | ||||||
| Pool #MA4003 3.000% 10/20/46 | 461,976 | 418,397 | ||||||
| Pool #MA4195 3.000% 1/20/47 | 329,020 | 297,983 | ||||||
| Pool #MA6144 3.000% 9/20/49 | 12,801 | 11,154 | ||||||
| Pool #MA6209 3.000% 10/20/49 | 80,301 | 69,966 | ||||||
| Pool #MA6399 3.000% 1/20/50 | 39,758 | 34,641 | ||||||
| Pool #MA6531 3.000% 3/20/50 | 131,011 | 113,903 | ||||||
| Pool #MA6589 3.000% 4/20/50 | 59,864 | 52,047 | ||||||
| Pool #MA6757 3.000% 7/20/50 | 105,098 | 91,374 | ||||||
| Pool #MA7473 3.000% 7/20/51 | 815,966 | 731,983 | ||||||
| Pool #MA7650 3.000% 10/20/51 | 1,341,849 | 1,203,738 | ||||||
| Pool #MA8098 3.000% 6/20/52 | 1,005,875 | 898,415 | ||||||
| Pool #MA0318 3.500% 8/20/42 | 152,751 | 143,584 | ||||||
| Pool #MA0852 3.500% 3/20/43 | 108,973 | 102,389 | ||||||
| Pool #783802 3.500% 4/20/43 | 174,485 | 162,114 | ||||||
| Pool #MA1012 3.500% 5/20/43 | 324,476 | 304,850 | ||||||
| Pool #MA1090 3.500% 6/20/43 | 128,458 | 120,672 | ||||||
| Pool #785587 3.500% 12/20/44 | 219,774 | 207,193 | ||||||
| Pool #AL1773 3.500% 1/20/45 | 161,852 | 151,170 | ||||||
| Pool #MA3173 3.500% 10/20/45 | 211,402 | 198,837 | ||||||
| Pool #MA3310 3.500% 12/20/45 | 69,179 | 65,003 | ||||||
| Pool #MA3597 3.500% 4/20/46 | 101,972 | 95,784 | ||||||
| Pool #MA3663 3.500% 5/20/46 | 79,721 | 74,883 | ||||||
| Pool #MA3736 3.500% 6/20/46 | 213,918 | 200,870 | ||||||
| Pool #MA3803 3.500% 7/20/46 | 15,359 | 14,422 | ||||||
| Pool #MA3937 3.500% 9/20/46 | 102,279 | 96,040 | ||||||
| Pool #786092 3.500% 1/20/47 | 143,405 | 134,882 | ||||||
| Pool #MA4382 3.500% 4/20/47 | 18,508 | 17,321 | ||||||
| Pool # 784346 3.500% 7/20/47 | 23,958 | 22,452 | ||||||
| Pool #MA4586 3.500% 7/20/47 | 35,111 | 32,860 | ||||||
| Pool #MA4719 3.500% 9/20/47 | 12,304 | 11,503 | ||||||
| Pool #BC1919 3.500% 9/20/47 | 46,857 | 43,662 | ||||||
| Pool # 784793 3.500% 12/20/47 | 6,317 | 5,896 | ||||||
| Pool #MA4900 3.500% 12/20/47 | 168,549 | 157,583 | ||||||
| Pool #785087 3.500% 2/20/48 | 560,131 | 525,965 | ||||||
| Pool #MA784472 3.500% 2/20/48 | 278,601 | 260,301 | ||||||
| Pool #785327 3.500% 10/20/49 | 63,577 | 59,217 | ||||||
| Pool #MA3245 4.000% 11/20/45 | 149,866 | 144,648 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA4511 4.000% 6/20/47 | $ | 92,475 | $ | 88,764 | ||||
| Pool #MA4720 4.000% 9/20/47 | 326,112 | 312,923 | ||||||
| Pool #MA4838 4.000% 11/20/47 | 81,261 | 77,949 | ||||||
| Pool #MA6934 4.000% 10/20/50 | 771,889 | 733,677 | ||||||
| Pool #MA8346 4.000% 10/20/52 | 1,363,739 | 1,289,516 | ||||||
| Pool #MA5234 4.500% 11/20/41 | 129,129 | 127,376 | ||||||
| Pool #MA2894 4.500% 6/20/45 | 140,361 | 138,543 | ||||||
| Pool #MA2963 4.500% 7/20/45 | 52,291 | 51,613 | ||||||
| Pool #MA3312 4.500% 12/20/45 | 2,499 | 2,467 | ||||||
| Pool #MA4588 4.500% 7/20/47 | 246,405 | 242,674 | ||||||
| Pool #MA4654 4.500% 8/20/47 | 38,155 | 37,529 | ||||||
| Pool #MA5079 4.500% 3/20/48 | 57,916 | 56,894 | ||||||
| Pool #MA5265 4.500% 6/20/48 | 200 | 196 | ||||||
| Pool #MA5399 4.500% 8/20/48 | 48,840 | 47,811 | ||||||
| Pool #MA5711 4.500% 1/20/49 | 78,637 | 76,931 | ||||||
| Pool #786255 4.500% 9/20/49 | 69,836 | 68,080 | ||||||
| Pool #MA8347 4.500% 10/20/52 | 1,261,017 | 1,217,785 | ||||||
| Pool #MA4781 5.000% 10/20/47 | 259,374 | 261,110 | ||||||
| Pool #MA5194 5.000% 5/20/48 | 53,912 | 53,902 | ||||||
| Pool #BF2644 5.000% 5/20/48 | 4,606 | 4,582 | ||||||
| Pool #MA5266 5.000% 6/20/48 | 384,234 | 383,924 | ||||||
| Pool #BF2878 5.000% 6/20/48 | 15,574 | 15,494 | ||||||
| Pool #MA5988 5.000% 6/20/49 | 162,355 | 161,919 | ||||||
| Pool #MA5081 5.500% 3/20/48 | 44,096 | 45,125 | ||||||
| Pool #MA5140 5.500% 4/20/48 | 32,010 | 32,757 | ||||||
| Pool #MA5195 5.500% 5/20/48 | 97,341 | 99,431 | ||||||
| Pool #MA5469 5.500% 9/20/48 | 371 | 378 | ||||||
| Pool #MA5531 5.500% 10/20/48 | 8,771 | 8,858 | ||||||
| Pool #MA5598 5.500% 11/20/48 | 44,806 | 45,250 | ||||||
| Pool #MA5654 5.500% 12/20/48 | 119,191 | 120,111 | ||||||
| Pool #MA5713 5.500% 1/20/49 | 30,090 | 30,247 | ||||||
| Pool #MA5820 5.500% 3/20/49 | 32,398 | 32,820 | ||||||
| Pool #MA8573 7.000% 1/20/53 | 349,175 | 358,605 | ||||||
| Government National Mortgage Association II TBA | ||||||||
| 2.000% 7/20/53 (d) | 395,000 | 331,658 | ||||||
| 2.500% 7/20/53 (d) | 480,000 | 415,402 | ||||||
| 5.000% 7/20/53 (d) | 510,000 | 501,098 | ||||||
| 5.500% 7/20/53 (d) | 3,385,000 | 3,370,107 | ||||||
| 6.000% 7/20/53 (d) | 685,000 | 689,458 | ||||||
| 6.500% 7/20/53 (d) | 825,000 | 839,686 | ||||||
| Uniform Mortgage-Backed Security TBA | ||||||||
| 2.000% 7/18/38 (d) | 3,735,000 | 3,309,649 | ||||||
| 2.000% 7/13/53 (d) | 11,315,000 | 9,220,440 | ||||||
| 2.500% 7/13/53 (d) | 10,255,000 | 8,690,711 | ||||||
| 3.000% 7/13/53 (d) | 4,025,000 | 3,541,371 | ||||||
| 3.500% 7/13/53 (d) | 3,250,000 | 2,960,292 | ||||||
| 4.000% 7/13/53 (d) | 2,895,000 | 2,716,097 | ||||||
| 4.500% 7/13/53 (d) | 2,145,000 | 2,061,212 | ||||||
| 5.000% 7/13/53 (d) | 2,475,000 | 2,424,823 | ||||||
| 5.500% 7/13/53 (d) | 3,210,000 | 3,194,574 | ||||||
| 6.000% 7/13/53 (d) | 1,240,000 | 1,250,801 | ||||||
| 6.500% 7/13/53 (d) | 1,500,000 | 1,531,522 | ||||||
| 151,937,841 | ||||||||
| Whole Loans — 0.4% | ||||||||
| Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes, Series 2021-DNA2, Class M2, 30 day USD SOFR Average + 2.300% | ||||||||
| 7.367% FRN 8/25/33 (a) | 252,053 | 252,127 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes, REMICS, Series 2022-DNA4, Class M1A, 30 day USD SOFR Average + 2.200% | ||||||||
| 7.267% FRN 5/25/42 (a) | $ | 320,982 | $ | 322,453 | ||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust | ||||||||
| Series 2021-R03, Class 1M2, 30 day USD SOFR Average + 1.650% 6.717% FRN 12/25/41 (a) | 345,000 | 333,792 | ||||||
| Series 2023-R02, Class 1M1, 30 day USD SOFR Average + 2.300% 7.367% FRN 1/25/43 (a) | 667,965 | 669,898 | ||||||
| Series 2017-C06, Class 1M2B, 1 mo. USD LIBOR + 2.650% 7.800% FRN 2/25/30 | 279,558 | 282,923 | ||||||
| Series 2022-R07, Class 1M1, Update Replacements.xls: SOFR30A + 2.950% 8.017% FRN 6/25/42 (a) | 198,064 | 202,698 | ||||||
| 2,063,891 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $162,771,830) | 154,268,977 | |||||||
| U.S. TREASURY OBLIGATIONS — 20.6% | ||||||||
| U.S. Treasury Bonds & Notes — 20.6% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 3.000% 8/15/52 | 8,900,000 | 7,556,069 | ||||||
| 3.375% 8/15/42 | 11,400,000 | 10,337,748 | ||||||
| 3.625% 2/15/53 | 7,890,000 | 7,561,507 | ||||||
| 3.875% 2/15/43 | 3,020,000 | 2,942,255 | ||||||
| 4.000% 11/15/42 | 8,030,000 | 7,973,227 | ||||||
| 4.000% 11/15/52 | 5,015,000 | 5,143,985 | ||||||
| U.S. Treasury Notes | ||||||||
| 1.500% 1/31/27 | 27,045,000 | 24,492,633 | ||||||
| 2.250% 1/31/24 | 10,880,000 | 10,680,605 | ||||||
| 3.125% 8/31/27 | 2,660,000 | 2,543,240 | ||||||
| 3.875% 1/15/26 (h) | 12,245,000 | 12,015,169 | ||||||
| 3.875% 11/30/27 | 1,100,000 | 1,084,211 | ||||||
| 3.875% 11/30/29 | 3,420,000 | 3,387,934 | ||||||
| 4.000% 12/15/25 | 8,290,000 | 8,159,688 | ||||||
| 4.000% 2/15/26 | 5,220,000 | 5,140,053 | ||||||
| 4.125% 9/30/27 | 5,655,000 | 5,621,877 | ||||||
| 4.125% 10/31/27 | 1,400,000 | 1,392,099 | ||||||
| 4.125% 11/15/32 | 4,445,000 | 4,541,254 | ||||||
| 120,573,554 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $122,946,473) | 120,573,554 | |||||||
| TOTAL BONDS & NOTES (Cost $595,430,958) | 558,443,972 | |||||||
| TOTAL PURCHASED OPTIONS(#) — 0.0% (Cost $99,820) | 738 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $595,530,778) | 558,444,710 | |||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 12.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.4% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (i) | 2,612,228 | $ | 2,612,228 | |||||
| Mutual Fund — 10.8% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 63,419,128 | 63,419,128 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.3% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (j) | $ | 1,510,371 | 1,510,371 | |||||
| Sovereign Debt Obligations — 0.6% | ||||||||
| Japan Treasury Discount Bills | ||||||||
| (0.120)% 7/10/23 JPY (b) (k) | 393,650,000 | 2,728,144 | ||||||
| Sri Lanka Treasury Bills | ||||||||
| 18.216% 12/08/23 LKR (b) (k) | 21,000,000 | 62,874 | ||||||
| 19.052% 12/01/23 LKR (b) (k) | 13,000,000 | 39,031 | ||||||
| 19.052% 12/15/23 LKR (b) (k) | 42,000,000 | 125,404 | ||||||
| 20.865% 10/06/23 LKR (b) (k) | 43,000,000 | 132,697 | ||||||
| 21.810% 4/05/24 LKR (b) (k) | 60,000,000 | 170,567 | ||||||
| 22.125% 7/07/23 LKR (b) (k) | 11,000,000 | 35,695 | ||||||
| U.S. Treasury Bill — 0.1% | ||||||||
| U.S. Treasury Bills | ||||||||
| 4.975% 9/28/23 (k) | 630,000 | 622,144 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $71,693,640) | 71,458,283 | |||||||
| TOTAL INVESTMENTS — 107.7% (Cost $667,224,418) (l) | 629,902,993 | |||||||
| Other Assets/(Liabilities) — (7.7)% | (45,110,406) | |||||||
| NET ASSETS — 100.0% | $ | 584,792,587 | ||||||
Abbreviation Legend
| CLO | Collateralized Loan Obligation |
| FRN | Floating Rate Note |
| REMICS | Real Estate Mortgage Investment Conduits |
| 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 June 30, 2023, the aggregate market value of these securities amounted to $132,877,151 or 22.72% of net assets. |
| (b) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $2,884,843 or 0.49% of net assets. The Fund received $335,825 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). |
| (d) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (e) | Security is perpetual and has no stated maturity date. |
| (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 June 30, 2023. |
| (g) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (h) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (i) | Represents investment of security lending cash collateral. (Note 2). |
| (j) | Maturity value of $1,510,562. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,540,617. |
| (k) | The rate shown represents yield-to-maturity. |
| (l) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||||||
| USD Put JPY Call | Bank of America N.A. | 7/06/23 | 127.00 | 6,270,000 | USD | 6,270,000 | $ | 6 | $ | 92,796 | $ | (92,790) | ||||||||||||||||||||
| (#) Credit Default Index Swaptions Purchased | ||||||||||||||||||||||||||||||||
| Paid by Fund | Received by Fund | |||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Rate | Rate/ Reference Obligation Index | Frequency | Rate/ Reference Obligation Index | Frequency | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||||||
| Sell Protection on 5-Year Credit Default Swap, 6/20/28 | JP Morgan Chase Bank N.A. | 7/19/23 | 0.80 | CDX.NA.IG Series 40 † | Quarterly | 1.000% | Quarterly | USD | 16,725,000 | $ | 732 | $ | 7,024 | $ | (6,292) | |||||||||||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 7/07/23 | KRW | 1,016,941,000 | USD | 789,201 | $ | (17,359) | |||||||||
| Bank of America N.A. | 7/07/23 | USD | 1,170,933 | TWD | 35,010,860 | 46,541 | ||||||||||
| Bank of America N.A. | 7/14/23 | USD | 411,122 | CZK | 8,827,000 | 6,085 | ||||||||||
| Bank of America N.A. | 7/21/23 | USD | 2,069,096 | JPY | 291,045,000 | 47,240 | ||||||||||
| Bank of America N.A. | 7/21/23 | CAD | 4,709,424 | USD | 3,514,878 | 40,901 | ||||||||||
| Bank of America N.A. | 8/18/23 | USD | 789,739 | PLN | 3,371,000 | (37,503) | ||||||||||
| Bank of America N.A. | 8/25/23 | GBP | 2,200,000 | USD | 2,760,502 | 34,184 | ||||||||||
| Bank of America N.A. | 8/25/23 | USD | 406,966 | EUR | 374,391 | (2,597) | ||||||||||
| Bank of America N.A. | 8/25/23 | SEK | 746,875 | USD | 69,913 | (500) | ||||||||||
| Bank of America N.A. | 8/25/23 | USD | 8,099,147 | GBP | 6,460,762 | (108,034) | ||||||||||
| Bank of America N.A. | 9/05/23 | BRL | 2,032,000 | USD | 396,372 | 23,281 | ||||||||||
| Barclays Bank PLC | 7/07/23 | USD | 775,131 | KRW | 1,016,941,000 | 3,289 | ||||||||||
| Barclays Bank PLC | 7/14/23 | RON | 1,635,000 | USD | 359,910 | (155) | ||||||||||
| Barclays Bank PLC | 7/20/23 | USD | 628,594 | ILS | 2,273,047 | 15,111 | ||||||||||
| Barclays Bank PLC | 7/21/23 | USD | 470,147 | NZD | 753,724 | 7,618 | ||||||||||
| Barclays Bank PLC | 10/06/23 | KRW | 1,016,941,000 | USD | 778,949 | (3,224) | ||||||||||
| BNP Paribas SA | 7/14/23 | DKK | 18,415,000 | USD | 2,723,085 | (22,919) | ||||||||||
| BNP Paribas SA | 7/14/23 | CZK | 12,052,000 | USD | 540,788 | 12,232 | ||||||||||
| BNP Paribas SA | 7/14/23 | USD | 492,957 | HUF | 172,101,000 | (9,898) | ||||||||||
| BNP Paribas SA | 7/14/23 | MXN | 1,913,348 | USD | 110,076 | 1,511 | ||||||||||
| BNP Paribas SA | 7/14/23 | USD | 2,726,631 | DKK | 18,415,000 | 26,465 | ||||||||||
| BNP Paribas SA | 7/21/23 | AUD | 82,643 | USD | 55,425 | (348) | ||||||||||
| BNP Paribas SA | 7/21/23 | USD | 181,016 | JPY | 26,104,000 | (325) | ||||||||||
| BNP Paribas SA | 8/18/23 | PLN | 1,876,000 | USD | 453,143 | 7,226 | ||||||||||
| BNP Paribas SA | 8/25/23 | EUR | 81,761 | USD | 89,650 | (210) | ||||||||||
| BNP Paribas SA | 8/25/23 | GBP | 169,000 | USD | 214,953 | (270) | ||||||||||
| BNP Paribas SA | 8/25/23 | USD | 161,525 | GBP | 128,808 | (2,101) | ||||||||||
| BNP Paribas SA | 8/25/23 | USD | 51,487,842 | EUR | 47,055,081 | 12,264 | ||||||||||
| BNP Paribas SA | 9/05/23 | BRL | 1,577,000 | USD | 310,384 | 15,301 | ||||||||||
| BNP Paribas SA | 9/08/23 | USD | 131,382 | COP | 600,270,665 | (9,960) | ||||||||||
| BNP Paribas SA | 9/08/23 | USD | 3,304,177 | MYR | 15,129,528 | 47,695 | ||||||||||
| BNP Paribas SA | 10/06/23 | USD | 107,781 | TWD | 3,341,000 | (655) | ||||||||||
| BNP Paribas SA | 10/13/23 | USD | 114,865 | MXN | 2,008,000 | (263) | ||||||||||
| Citibank N.A. | 7/07/23 | IDR | 22,125,713,377 | USD | 1,475,343 | 410 | ||||||||||
| Citibank N.A. | 7/14/23 | CZK | 6,142,021 | USD | 278,600 | 3,234 | ||||||||||
| Citibank N.A. | 7/14/23 | HUF | 264,909,000 | USD | 761,860 | 12,167 | ||||||||||
| Citibank N.A. | 7/14/23 | USD | 1,062,882 | RON | 4,829,734 | 178 | ||||||||||
| Citibank N.A. | 7/20/23 | USD | 2,239,403 | ILS | 8,126,818 | 46,022 | ||||||||||
| Citibank N.A. | 7/21/23 | JPY | 94,689,000 | USD | 674,019 | (16,225) | ||||||||||
| Citibank N.A. | 7/21/23 | USD | 4,355,800 | AUD | 6,475,648 | 40,104 | ||||||||||
| Citibank N.A. | 7/21/23 | USD | 282,572 | NOK | 2,939,186 | 8,587 | ||||||||||
| Citibank N.A. | 7/21/23 | AUD | 729,000 | USD | 495,871 | (10,029) | ||||||||||
| Citibank N.A. | 8/18/23 | RSD | 2,576,414 | USD | 24,083 | (70) | ||||||||||
| Citibank N.A. | 8/18/23 | PLN | 17,620,000 | USD | 4,216,118 | 107,823 | ||||||||||
| Citibank N.A. | 8/18/23 | USD | 143,503 | RSD | 15,281,631 | 1,071 | ||||||||||
| Citibank N.A. | 8/18/23 | USD | 5,583,067 | PLN | 23,407,900 | (161,222) | ||||||||||
| Citibank N.A. | 8/25/23 | EUR | 162,780 | USD | 178,135 | (63) | ||||||||||
| Citibank N.A. | 8/25/23 | USD | 676,691 | EUR | 627,592 | (9,859) | ||||||||||
| Citibank N.A. | 9/08/23 | USD | 298,844 | COP | 1,350,608,997 | (19,174) | ||||||||||
| Citibank N.A. | 10/06/23 | USD | 1,473,378 | IDR | 22,125,713,377 | (1,366) | ||||||||||
| Deutsche Bank AG | 7/07/23 | TWD | 18,797,691 | USD | 603,942 | (245) | ||||||||||
| Deutsche Bank AG | 7/07/23 | IDR | 261,851,409 | USD | 17,805 | (339) | ||||||||||
| Deutsche Bank AG | 7/21/23 | USD | 351,770 | NZD | 576,615 | (2,074) | ||||||||||
| Deutsche Bank AG | 7/21/23 | JPY | 291,045,000 | USD | 2,102,647 | (80,791) | ||||||||||
| Deutsche Bank AG | 7/21/23 | AUD | 1,396,758 | USD | 947,282 | (16,413) | ||||||||||
| Deutsche Bank AG | 8/18/23 | USD | 386,564 | PLN | 1,633,000 | (14,174) | ||||||||||
| Deutsche Bank AG | 8/25/23 | USD | 994,654 | EUR | 922,353 | (14,348) | ||||||||||
| Deutsche Bank AG | 8/25/23 | EUR | 558,279 | USD | 611,539 | (813) | ||||||||||
| Deutsche Bank AG | 9/01/23 | USD | 329,444 | INR | 27,513,475 | (5,262) | ||||||||||
| Deutsche Bank AG | 9/01/23 | INR | 32,196,000 | USD | 387,134 | 4,535 | ||||||||||
| Deutsche Bank AG | 9/15/23 | USD | 451,104 | ZAR | 8,693,672 | (7,474) | ||||||||||
| Deutsche Bank AG | 10/06/23 | USD | 606,573 | TWD | 18,797,691 | (3,528) | ||||||||||
| Goldman Sachs International | 7/07/23 | USD | 1,145,028 | TWD | 34,254,140 | 44,939 | ||||||||||
| Goldman Sachs International | 7/07/23 | USD | 427,285 | IDR | 6,425,510,000 | (1,287) | ||||||||||
| Goldman Sachs International | 7/07/23 | IDR | 19,320,547,546 | USD | 1,292,896 | (4,244) | ||||||||||
| Goldman Sachs International | 7/07/23 | TWD | 33,115,596 | USD | 1,062,317 | 1,207 | ||||||||||
| Goldman Sachs International | 7/14/23 | CZK | 13,482,654 | USD | 625,268 | (6,600) | ||||||||||
| Goldman Sachs International | 7/21/23 | CAD | 2,101,132 | USD | 1,571,751 | 14,677 | ||||||||||
| Goldman Sachs International | 8/25/23 | GBP | 924,000 | USD | 1,160,742 | 13,026 | ||||||||||
| Goldman Sachs International | 8/25/23 | USD | 2,746,795 | GBP | 2,200,000 | (47,891) | ||||||||||
| Goldman Sachs International | 8/25/23 | EUR | 641,000 | USD | 702,983 | (1,766) | ||||||||||
| Goldman Sachs International | 9/08/23 | USD | 968,561 | THB | 33,386,500 | 20,889 | ||||||||||
| Goldman Sachs International | 9/15/23 | USD | 18,746 | CNH | 132,937 | 354 | ||||||||||
| Goldman Sachs International | 10/06/23 | USD | 1,291,599 | IDR | 19,320,547,546 | 3,827 | ||||||||||
| Goldman Sachs International | 10/06/23 | USD | 1,067,608 | TWD | 33,115,596 | (7,198) | ||||||||||
| HSBC Bank USA | 7/07/23 | TWD | 17,351,713 | USD | 558,184 | (925) | ||||||||||
| HSBC Bank USA | 7/07/23 | USD | 1,937,010 | IDR | 29,252,121,332 | (14,064) | ||||||||||
| HSBC Bank USA | 7/14/23 | USD | 369,715 | MXN | 6,808,299 | (27,348) | ||||||||||
| HSBC Bank USA | 8/25/23 | USD | 64,477 | EUR | 59,583 | (703) | ||||||||||
| HSBC Bank USA | 9/01/23 | USD | 228,640 | INR | 19,003,168 | (2,536) | ||||||||||
| HSBC Bank USA | 9/01/23 | INR | 97,310,000 | USD | 1,177,106 | 6,685 | ||||||||||
| HSBC Bank USA | 9/05/23 | USD | 814,360 | BRL | 4,122,126 | (36,950) | ||||||||||
| HSBC Bank USA | 9/15/23 | USD | 192,249 | CNH | 1,360,063 | 4,082 | ||||||||||
| HSBC Bank USA | 9/15/23 | USD | 359,040 | SGD | 480,000 | 3,161 | ||||||||||
| HSBC Bank USA | 10/06/23 | USD | 560,510 | TWD | 17,351,713 | (2,660) | ||||||||||
| JP Morgan Chase Bank N.A. | 7/14/23 | USD | 105,805 | MXN | 1,937,000 | (7,162) | ||||||||||
| JP Morgan Chase Bank N.A. | 7/20/23 | USD | 2,490,771 | ILS | 9,072,347 | 42,199 | ||||||||||
| JP Morgan Chase Bank N.A. | 7/21/23 | AUD | 308,000 | USD | 201,101 | 4,166 | ||||||||||
| JP Morgan Chase Bank N.A. | 7/21/23 | USD | 91,597 | JPY | 12,323,000 | 5,990 | ||||||||||
| JP Morgan Chase Bank N.A. | 7/21/23 | JPY | 628,167,684 | USD | 4,456,987 | (93,179) | ||||||||||
| JP Morgan Chase Bank N.A. | 8/18/23 | RSD | 2,586,732 | USD | 24,024 | 86 | ||||||||||
| JP Morgan Chase Bank N.A. | 8/25/23 | USD | 106,747 | EUR | 99,000 | (1,554) | ||||||||||
| JP Morgan Chase Bank N.A. | 9/08/23 | USD | 1,019,762 | THB | 35,037,541 | 25,225 | ||||||||||
| Morgan Stanley & Co. LLC | 7/14/23 | USD | 868,244 | MXN | 15,962,315 | (62,684) | ||||||||||
| Morgan Stanley & Co. LLC | 7/20/23 | USD | 274,626 | ILS | 992,950 | 6,635 | ||||||||||
| Morgan Stanley & Co. LLC | 7/21/23 | CAD | 2,795,000 | USD | 2,097,735 | 12,588 | ||||||||||
| Morgan Stanley & Co. LLC | 7/21/23 | USD | 4,107,977 | CAD | 5,555,000 | (86,241) | ||||||||||
| Morgan Stanley & Co. LLC | 8/25/23 | USD | 732,795 | EUR | 675,665 | (6,344) | ||||||||||
| Morgan Stanley & Co. LLC | 8/25/23 | USD | 75,603 | GBP | 61,015 | (1,905) | ||||||||||
| Morgan Stanley & Co. LLC | 9/05/23 | USD | 814,360 | BRL | 4,122,126 | (36,950) | ||||||||||
| Morgan Stanley & Co. LLC | 9/08/23 | USD | 175,846 | COP | 800,360,887 | (12,610) | ||||||||||
| Royal Bank of Canada | 7/14/23 | MXN | 5,725,990 | USD | 334,160 | (218) | ||||||||||
| Royal Bank of Canada | 7/14/23 | USD | 318,302 | MXN | 5,835,685 | (22,037) | ||||||||||
| Royal Bank of Canada | 7/21/23 | JPY | 48,672,223 | USD | 367,348 | (29,228) | ||||||||||
| Royal Bank of Canada | 7/21/23 | CAD | 1,163,000 | USD | 855,989 | 22,117 | ||||||||||
| Royal Bank of Canada | 7/21/23 | USD | 11,117,907 | CAD | 14,877,984 | (115,487) | ||||||||||
| Royal Bank of Canada | 10/13/23 | USD | 328,429 | MXN | 5,725,990 | 130 | ||||||||||
| State Street Bank and Trust | 7/05/23 | LKR | 19,365,045 | USD | 63,027 | (51) | ||||||||||
| State Street Bank and Trust | 7/14/23 | MXN | 17,559,436 | USD | 1,023,430 | 644 | ||||||||||
| State Street Bank and Trust | 7/14/23 | HUF | 382,317,387 | USD | 1,077,497 | 39,581 | ||||||||||
| State Street Bank and Trust | 7/21/23 | JPY | 58,333,000 | USD | 421,015 | (15,782) | ||||||||||
| State Street Bank and Trust | 7/21/23 | USD | 26,782,572 | JPY | 3,499,185,398 | 2,474,142 | ||||||||||
| State Street Bank and Trust | 7/21/23 | CAD | 565,000 | USD | 425,255 | 1,340 | ||||||||||
| State Street Bank and Trust | 8/25/23 | GBP | 340,000 | USD | 422,143 | 9,763 | ||||||||||
| State Street Bank and Trust | 8/25/23 | USD | 5,802,798 | EUR | 5,284,039 | 22,360 | ||||||||||
| State Street Bank and Trust | 8/25/23 | USD | 8,112,863 | GBP | 6,460,762 | (94,318) | ||||||||||
| State Street Bank and Trust | 8/25/23 | USD | 791,356 | SEK | 8,150,000 | 33,910 | ||||||||||
| State Street Bank and Trust | 9/15/23 | USD | 720,837 | ZAR | 14,005,503 | (17,931) | ||||||||||
| State Street Bank and Trust | 9/15/23 | USD | 3,411,588 | SGD | 4,563,930 | 27,828 | ||||||||||
| State Street Bank and Trust | 10/13/23 | USD | 1,006,077 | MXN | 17,559,436 | (691) | ||||||||||
| UBS AG | 7/07/23 | USD | 409,192 | IDR | 6,030,481,000 | 6,968 | ||||||||||
| UBS AG | 7/14/23 | RON | 5,167,000 | USD | 1,143,431 | (6,517) | ||||||||||
| UBS AG | 7/14/23 | USD | 621,365 | ZAR | 11,454,250 | 13,311 | ||||||||||
| UBS AG | 7/14/23 | USD | 368,049 | CZK | 7,916,000 | 4,814 | ||||||||||
| UBS AG | 7/14/23 | USD | 391,962 | HUF | 138,202,000 | (11,844) | ||||||||||
| UBS AG | 7/21/23 | USD | 408,288 | AUD | 625,000 | (8,243) | ||||||||||
| UBS AG | 7/21/23 | USD | 468,172 | NZD | 746,230 | 10,242 | ||||||||||
| UBS AG | 8/11/23 | USD | 378,653 | CLP | 308,311,000 | (3,989) | ||||||||||
| UBS AG | 8/18/23 | PLN | 1,659,000 | USD | 406,538 | 580 | ||||||||||
| UBS AG | 8/25/23 | USD | 208,546 | EUR | 193,013 | (2,599) | ||||||||||
| UBS AG | 8/25/23 | USD | 2,502,886 | SEK | 25,549,316 | 128,378 | ||||||||||
| UBS AG | 9/08/23 | USD | 994,674 | THB | 34,268,501 | 21,966 | ||||||||||
| UBS AG | 9/08/23 | USD | 99,317 | COP | 450,202,999 | (6,689) | ||||||||||
| UBS AG | 9/15/23 | CNH | 5,424,000 | USD | 767,916 | (17,498) | ||||||||||
| $ | 2,203,172 | |||||||||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Euro-BTP | 9/07/23 | 1 | $ | 126,324 | $ | 375 | ||||||||
| Australia 3 Year Bond | 9/15/23 | 40 | 2,821,638 | (7,010) | ||||||||||
| Korea 10 Year Bond | 9/19/23 | 51 | 4,299,207 | (4,470) | ||||||||||
| Canada 10 Year Bond | 9/20/23 | 18 | 1,678,739 | (13,866) | ||||||||||
| U.S. Treasury Note 10 Year | 9/20/23 | 213 | 24,249,948 | (337,370) | ||||||||||
| U.S. Treasury Ultra 10 Year | 9/20/23 | 346 | 41,301,041 | (321,666) | ||||||||||
| $ | (684,007) | |||||||||||||
| Short | ||||||||||||||
| Euro-Bund | 9/07/23 | 19 | $ | (2,772,040) | $ | (766) | ||||||||
| Euro-Schatz | 9/07/23 | 107 | (12,322,021) | 79,899 | ||||||||||
| Japanese 10 Year Bond | 9/12/23 | 7 | (7,176,095) | (30,322) | ||||||||||
| Australia 10 Year Bond | 9/15/23 | 11 | (855,470) | 4,200 | ||||||||||
| Korea 3 Year Bond | 9/19/23 | 34 | (2,682,731) | 6,133 | ||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 45 | (6,067,247) | (62,597) | ||||||||||
| UK Long Gilt | 9/27/23 | 1 | (120,898) | (133) | ||||||||||
| U.S. Treasury Note 5 Year | 9/29/23 | 36 | (3,854,750) | (625) | ||||||||||
| $ | (4,211) | |||||||||||||
| Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
| Bombardier, Inc. | 5.000% | Quarterly | 6/20/28 | USD | 390,000 | $ | (17,290) | $ | (15,794) | $ | (1,496) | |||||||||||||||||||||
| OTC Credit Default Swaps-Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Counterparty | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.5000% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 4,189,000 | $ | 111,439 | $ | 111,752 | $ | (313) | ||||||||||||||||||||
| Centrally Cleared Credit Default Swaps - Sell Protection†† | ||||||||||||||||||||||||||||||||
| Reference Obligation/ Index | Rate Received by Fund | Payment Frequency | Termination Date | Credit Rating | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| iTraxx Series 38† | 1.000% | Quarterly | 12/20/27 | NR* | EUR | 2,885,000 | $ | 41,130 | $ | (531) | $ | 41,661 | ||||||||||||||||||||
| iTraxx Series 39† | 1.000% | Quarterly | 6/20/28 | NR* | EUR | 2,875,000 | 20,586 | 18,828 | 1,758 | |||||||||||||||||||||||
| CDX.NA.IG Series 40† | 1.000% | Quarterly | 6/20/28 | NR* | USD | 99,000 | (299) | (1,644) | 1,345 | |||||||||||||||||||||||
| Republic of Mexico | 1.000% | Quarterly | 6/20/28 | NR* | USD | 2,470,000 | (1,882) | (45,525) | 43,643 | |||||||||||||||||||||||
| CDX.NA.HY Series 40† | 5.000% | Quarterly | 6/20/28 | NR* | USD | 3,710,000 | 106,420 | 56,106 | 50,314 | |||||||||||||||||||||||
| $ | 165,955 | $ | 27,234 | $ | 138,721 | |||||||||||||||||||||||||||
| OTC Credit Default Swaps-Sell Protection†† | ||||||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Received by Fund | Payment Frequency | Counterparty | Credit Rating | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | NR* | 12/20/24 | USD | 151,000 | $ | 1,530 | $ | (4,578) | $ | 6,108 | |||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | NR* | 12/20/24 | USD | 303,000 | 3,069 | (9,187) | 12,256 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | NR* | 12/20/24 | USD | 152,000 | 1,540 | (10,489) | 12,029 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | NR* | 12/20/29 | USD | 225,000 | 161 | (11,045) | 11,206 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | NR* | 12/20/29 | USD | 225,000 | 161 | (11,239) | 11,400 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | NR* | 6/20/24 | USD | 135,000 | 1,000 | (8,192) | 9,192 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | NR* | 6/20/24 | USD | 67,500 | 500 | (3,879) | 4,379 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | NR* | 6/20/24 | USD | 67,500 | 500 | (3,879) | 4,379 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | NR* | 12/20/24 | USD | 450,000 | 4,560 | (2,503) | 7,063 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | NR* | 6/20/25 | USD | 150,000 | 1,916 | (9,034) | 10,950 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | NR* | 6/20/25 | USD | 75,000 | 958 | (4,350) | 5,308 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | NR* | 12/20/25 | USD | 300,000 | 4,168 | (280) | 4,448 | ||||||||||||||||||||||||||
| Republic of Indonesia | 1.000% | Quarterly | JP Morgan Chase Bank N.A. | NR* | 6/20/28 | USD | 2,060,000 | 12,435 | (18,970) | 31,405 | ||||||||||||||||||||||||||
| Barclays Bank PLC | 1.000% | Quarterly | JP Morgan Chase Bank N.A. | A+* | 6/20/24 | EUR | 100,000 | 99 | 1,279 | (1,180) | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Morgan Stanley & Co. LLC | NR* | 12/20/24 | USD | 134,000 | 1,357 | (994) | 2,351 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Morgan Stanley & Co. LLC | NR* | 6/20/25 | USD | 94,000 | 1,201 | (4,498) | 5,699 | ||||||||||||||||||||||||||
| $ | 35,155 | $ | (101,838) | $ | 136,993 | |||||||||||||||||||||||||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.558% | Quarterly | 7/17/25 | CNY | 30,000,000 | $ | 43,935 | $ | — | $ | 43,935 | ||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.600% | Quarterly | 8/06/25 | CNY | 7,500,000 | 10,628 | — | 10,628 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.855% | Quarterly | 11/24/25 | CNY | 26,575,000 | 65,430 | — | 65,430 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.605% | Quarterly | 1/15/26 | CNY | 58,525,000 | 101,441 | — | 101,441 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.780% | Quarterly | 6/28/26 | CNY | 9,775,000 | 22,252 | — | 22,252 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.560% | Quarterly | 7/28/26 | CNY | 2,800,000 | 3,935 | — | 3,935 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.255% | Quarterly | 1/26/27 | CNY | 24,350,000 | (956) | — | (956) | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.355% | Quarterly | 4/15/27 | CNY | 37,000,000 | 17,239 | — | 17,239 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.440% | Quarterly | 7/27/27 | CNY | 5,400,000 | 3,850 | — | 3,850 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.562% | Quarterly | 5/15/28 | CNY | 1,009,000 | 1,305 | — | 1,305 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.579% | Quarterly | 5/15/28 | CNY | 4,373,000 | 6,136 | — | 6,136 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.568% | Quarterly | 5/16/28 | CNY | 3,429,000 | 4,544 | — | 4,544 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.476% | Quarterly | 6/01/28 | CNY | 20,850,000 | 12,627 | — | 12,627 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed -0.001% | Annually | 10/20/25 | EUR | 690,000 | (64,039) | — | (64,039) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed -0.001% | Annually | 11/04/25 | EUR | 1,030,000 | (95,594) | — | (95,594) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.638% | Annually | 12/16/29 | EUR | 1,275,000 | (39,776) | — | (39,776) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 0.830% | Annually | 3/02/32 | EUR | 800,000 | (144,827) | — | (144,827) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.222% | Annually | 4/04/32 | EUR | 1,350,000 | (202,066) | — | (202,066) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.627% | Annually | 4/21/32 | EUR | 946,000 | (110,711) | — | (110,711) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.640% | Annually | 5/02/32 | EUR | 950,000 | (110,393) | — | (110,393) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.796% | Annually | 11/17/32 | EUR | 82,000 | (1,626) | — | (1,626) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.803% | Annually | 11/18/32 | EUR | 140,000 | (2,686) | — | (2,686) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.735% | Annually | 11/21/32 | EUR | 131,000 | (3,313) | — | (3,313) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.730% | Annually | 11/23/32 | EUR | 2,400,000 | (61,869) | — | (61,869) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.717% | Annually | 11/24/32 | EUR | 200,000 | (5,392) | — | (5,392) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.683% | Annually | 11/30/32 | EUR | 126,000 | (3,788) | — | (3,788) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.698% | Annually | 11/30/32 | EUR | 54,000 | (1,554) | — | (1,554) | |||||||||||||||||||||||
| GBP-SONIA-COMPOUND | Annually | Fixed 3.955% | Annually | 1/25/25 | GBP | 8,277,000 | (323,878) | — | (323,878) | |||||||||||||||||||||||
| 28 Day-MXN-TIIE | Monthly | Fixed 5.499% | Monthly | 5/04/27 | MXN | 15,000,000 | (87,991) | — | (87,991) | |||||||||||||||||||||||
| Fixed 3.090% | Annually | 6-Month WIBOR | Semi-Annually | 2/20/28 | PLN | 1,070,000 | 20,443 | — | 20,443 | |||||||||||||||||||||||
| Fixed 2.850% | Annually | 6-Month WIBOR | Semi-Annually | 4/06/28 | PLN | 100,000 | 2,183 | — | 2,183 | |||||||||||||||||||||||
| Fixed 2.920% | Annually | 6-Month WIBOR | Semi-Annually | 5/07/28 | PLN | 200,000 | 4,277 | — | 4,277 | |||||||||||||||||||||||
| Fixed 3.030% | Annually | 6-Month WIBOR | Semi-Annually | 5/18/28 | PLN | 300,000 | 6,102 | — | 6,102 | |||||||||||||||||||||||
| Fixed 5.010% | Annually | 6-Month WIBOR | Semi-Annually | 6/30/28 | PLN | 4,150,000 | (1,056) | — | (1,056) | |||||||||||||||||||||||
| Fixed 5.010% | Annually | 6-Month WIBOR | Semi-Annually | 6/30/28 | PLN | 4,150,000 | (1,056) | — | (1,056) | |||||||||||||||||||||||
| Fixed 1.715% | Annually | 6-Month WIBOR | Semi-Annually | 9/24/29 | PLN | 1,700,000 | 70,421 | — | 70,421 | |||||||||||||||||||||||
| Fixed 1.780% | Annually | 6-Month WIBOR | Semi-Annually | 10/22/29 | PLN | 823,529 | 33,788 | — | 33,788 | |||||||||||||||||||||||
| Fixed 1.775% | Annually | 6-Month WIBOR | Semi-Annually | 10/22/29 | PLN | 1,176,471 | 48,344 | — | 48,344 | |||||||||||||||||||||||
| $ | (783,691) | $ | — | $ | (783,691) | |||||||||||||||||||||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| 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-week CNREPOFIX =CFXS-Reuters | Quarterly | Fixed 2.650% | Quarterly | Citibank N.A. | 5/15/30 | CNY | 3,331,000 | $ | 5,717 | $ | — | $ | 5,717 | ||||||||||||||
| 1-week CNREPOFIX =CFXS-Reuters | Quarterly | Fixed 2.650% | Quarterly | Citibank N.A. | 5/16/30 | CNY | 3,299,000 | 5,639 | — | 5,639 | |||||||||||||||||
| $ | 11,356 | $ | — | $ | 11,356 | ||||||||||||||||||||||
| * | Rating represents a weighted average of the ratings of all securities included in the underlying index for the credit default swap. Ratings used in the weighted average are from Moody's Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, whichever is the highest for each constituent. All ratings are as of the report date and do not reflect subsequent changes. |
| † | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
| †† | For each credit derivative with sold protection, the credit ratings of the entities referenced, as rated by any rating organization, are included in the equivalent S&P Global Ratings. The reference entity rating represents the likelihood of a potential payment by the Fund if the referenced entity experiences a credit event as of period end. Notional amounts represent the maximum potential amount of future payments (undiscounted) the Fund could be required to make under the credit derivatives with sold protection. |
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| CNH | Offshore Chinese Yuan |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| LKR | Sri Lanka Rupee |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PLN | Polish Zloty |
| RON | New Romanian Leu |
| RSD | Serbian dinar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TWD | Taiwan Dollar |
| USD | U.S. Dollar |
| ZAR | South African Rand |
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 95.2% | ||||||||
| CORPORATE DEBT — 25.9% | ||||||||
| Brazil — 1.3% | ||||||||
| Braskem Netherlands Finance BV | ||||||||
| 7.250% 2/13/33 (a) | $ | 200,000 | $ | 196,503 | ||||
| Cosan Overseas Ltd. | ||||||||
| 8.250% (a) (b) | 100,000 | 99,441 | ||||||
| Globo Comunicacao e Participacoes SA | ||||||||
| 4.875% 1/22/30 (a) | 850,000 | 676,824 | ||||||
| MercadoLibre, Inc., Convertible, | ||||||||
| 2.000% 8/15/28 (c) | 45,000 | 123,008 | ||||||
| 1,095,776 | ||||||||
| Chile — 3.0% | ||||||||
| AES Andes SA 5 yr. USD Swap + 4.644% | ||||||||
| 7.125% VRN 3/26/79 (a) | 650,000 | 600,925 | ||||||
| Agrosuper SA | ||||||||
| 4.600% 1/20/32 (a) | 200,000 | 169,011 | ||||||
| Banco Santander Chile | ||||||||
| 3.177% 10/26/31 (a) | 375,000 | 324,733 | ||||||
| Celulosa Arauco y Constitucion SA | ||||||||
| 4.200% 1/29/30 (a) | 200,000 | 178,565 | ||||||
| 5.150% 1/29/50 (a) | 250,000 | 202,060 | ||||||
| Corp. Nacional del Cobre de Chile | ||||||||
| 3.150% 1/14/30 (a) | 200,000 | 177,113 | ||||||
| 5.125% 2/02/33 (a) | 200,000 | 196,913 | ||||||
| Empresa de los Ferrocarriles del Estado | ||||||||
| 3.068% 8/18/50 (a) | 450,000 | 273,375 | ||||||
| Empresa de Transporte de Pasajeros Metro SA | ||||||||
| 3.693% 9/13/61 (a) | 200,000 | 131,024 | ||||||
| 4.700% 5/07/50 (a) | 200,000 | 165,407 | ||||||
| 2,419,126 | ||||||||
| China — 0.2% | ||||||||
| Lenovo Group Ltd. | ||||||||
| 3.421% 11/02/30 (a) | 200,000 | 168,549 | ||||||
| Colombia — 1.4% | ||||||||
| Banco Davivienda SA 10 yr. CMT + 5.097% | ||||||||
| 6.650% VRN (a) (b) | 400,000 | 293,747 | ||||||
| Banco de Bogota SA | ||||||||
| 6.250% 5/12/26 (a) | 250,000 | 241,440 | ||||||
| Bancolombia SA 5 yr. CMT + 2.944% | ||||||||
| 4.625% VRN 12/18/29 | 200,000 | 170,250 | ||||||
| Ecopetrol SA | ||||||||
| 4.625% 11/02/31 | 355,000 | 274,035 | ||||||
| 6.875% 4/29/30 | 50,000 | 45,613 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 8.875% 1/13/33 | $ | 100,000 | $ | 99,023 | ||||
| 1,124,108 | ||||||||
| Ghana — 0.2% | ||||||||
| Kosmos Energy Ltd. | ||||||||
| 7.125% 4/04/26 (a) | 200,000 | 175,760 | ||||||
| India — 0.9% | ||||||||
| Greenko Power II Ltd. | ||||||||
| 4.300% 12/13/28 (a) | 241,150 | 209,297 | ||||||
| Periama Holdings LLC | ||||||||
| 5.950% 4/19/26 (a) | 200,000 | 192,000 | ||||||
| Reliance Industries Ltd. | ||||||||
| 2.875% 1/12/32 (a) | 400,000 | 333,323 | ||||||
| 734,620 | ||||||||
| Indonesia — 1.4% | ||||||||
| Bank Negara Indonesia Persero Tbk PT | ||||||||
| 3.750% 3/30/26 (a) | 213,000 | 196,607 | ||||||
| Minejesa Capital BV | ||||||||
| 5.625% 8/10/37 (a) | 500,000 | 391,249 | ||||||
| Pertamina Persero PT | ||||||||
| 5.625% 5/20/43 (a) | 200,000 | 191,951 | ||||||
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | ||||||||
| 4.000% 6/30/50 (a) (c) | 200,000 | 142,896 | ||||||
| 6.150% 5/21/48 (a) | 200,000 | 193,298 | ||||||
| 1,116,001 | ||||||||
| Israel — 0.8% | ||||||||
| ICL Group Ltd. | ||||||||
| 6.375% 5/31/38 (a) | 150,000 | 150,789 | ||||||
| ICL Group Ltd. | ||||||||
| 6.375% 5/31/38 (a) | 200,000 | 201,053 | ||||||
| Leviathan Bond Ltd. | ||||||||
| 6.125% 6/30/25 (a) | 300,000 | 292,233 | ||||||
| 644,075 | ||||||||
| Jamaica — 0.1% | ||||||||
| TransJamaican Highway Ltd. | ||||||||
| 5.750% 10/10/36 (a) | 140,251 | 115,707 | ||||||
| Kazakhstan — 0.4% | ||||||||
| KazMunayGas National Co. JSC | ||||||||
| 3.500% 4/14/33 (a) | 200,000 | 154,500 | ||||||
| 6.375% 10/24/48 (a) | 230,000 | 196,249 | ||||||
| 350,749 | ||||||||
| Kuwait — 0.3% | ||||||||
| MEGlobal Canada ULC | ||||||||
| 5.875% 5/18/30 (a) | 200,000 | 201,726 | ||||||
| Mexico — 6.5% | ||||||||
| Axtel SAB de CV | ||||||||
| 6.375% 11/14/24 (a) | 200,000 | 203,135 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Banco Mercantil del Norte SA 10 yr. CMT + 7.760% | ||||||||
| 8.375% VRN (a) (b) | $ | 200,000 | $ | 186,640 | ||||
| BBVA Bancomer SA | ||||||||
| 5 yr. CMT + 2.650% 5.125% VRN 1/18/33 (a) | 600,000 | 520,643 | ||||||
| 5 yr. CMT + 4.308% 5.875% VRN 9/13/34 (a) | 200,000 | 178,040 | ||||||
| 5 yr. CMT + 4.661% 8.450% VRN 6/29/38 (a) | 200,000 | 200,200 | ||||||
| Cemex SAB de CV | ||||||||
| 5.450% 11/19/29 (a) (c) | 200,000 | 192,850 | ||||||
| Cometa Energia SA de CV | ||||||||
| 6.375% 4/24/35 (a) | 164,200 | 159,273 | ||||||
| Industrias Penoles SAB de CV | ||||||||
| 4.750% 8/06/50 (a) | 200,000 | 159,180 | ||||||
| Infraestructura Energetica Nova SAPI de CV | ||||||||
| 4.875% 1/14/48 (a) | 300,000 | 226,155 | ||||||
| Mexico City Airport Trust | ||||||||
| 5.500% 7/31/47 (a) | 742,000 | 648,542 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.500% 1/23/26 | 500,000 | 446,989 | ||||||
| 6.500% 3/13/27 | 850,000 | 756,268 | ||||||
| 6.500% 6/02/41 | 1,210,000 | 768,248 | ||||||
| 6.840% 1/23/30 | 55,000 | 43,736 | ||||||
| 8.750% 6/02/29 | 655,000 | 592,738 | ||||||
| 5,282,637 | ||||||||
| Oman — 0.8% | ||||||||
| Lamar Funding Ltd. | ||||||||
| 3.958% 5/07/25 (a) | 500,000 | 478,650 | ||||||
| Oztel Holdings SPC Ltd. | ||||||||
| 6.625% 4/24/28 (a) | 200,000 | 207,000 | ||||||
| 685,650 | ||||||||
| Panama — 0.7% | ||||||||
| Aeropuerto Internacional de Tocumen SA | ||||||||
| 4.000% 8/11/41 (a) | 200,000 | 160,123 | ||||||
| Banco General SA 10 yr. CMT + 3.665% | ||||||||
| 5.250% VRN (a) (b) | 200,000 | 172,043 | ||||||
| Banco Nacional de Panama | ||||||||
| 2.500% 8/11/30 (a) | 310,000 | 243,255 | ||||||
| 575,421 | ||||||||
| Paraguay — 0.2% | ||||||||
| Telfon Celuar Del Paragu SA | ||||||||
| 5.875% 4/15/27 (a) | 200,000 | 183,500 | ||||||
| Peru — 0.3% | ||||||||
| Consorcio Transmantaro SA | ||||||||
| 4.700% 4/16/34 (a) | 200,000 | 185,204 | ||||||
| Lima Metro Line 2 Finance Ltd. | ||||||||
| 5.875% 7/05/34 (a) | 91,777 | 89,253 | ||||||
| 274,457 | ||||||||
| Philippines — 1.2% | ||||||||
| Globe Telecom, Inc. | ||||||||
| 3.000% 7/23/35 (a) | 400,000 | 298,256 | ||||||
| International Container Terminal Services, Inc. | ||||||||
| 4.750% 6/17/30 (a) | 400,000 | 385,700 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Manila Water Co., Inc. | ||||||||
| 4.375% 7/30/30 (a) | $ | 300,000 | $ | 274,650 | ||||
| 958,606 | ||||||||
| Qatar — 1.0% | ||||||||
| Ooredoo International Finance Ltd. | ||||||||
| 2.625% 4/08/31 (a) | 260,000 | 223,786 | ||||||
| QatarEnergy | ||||||||
| 2.250% 7/12/31 (a) | 300,000 | 251,511 | ||||||
| 3.125% 7/12/41 (a) | 450,000 | 344,604 | ||||||
| 819,901 | ||||||||
| Republic of Korea — 0.3% | ||||||||
| POSCO | ||||||||
| 5.750% 1/17/28 (a) (c) | 200,000 | 202,897 | ||||||
| Saudi Arabia — 1.1% | ||||||||
| Saudi Arabian Oil Co. | ||||||||
| 3.500% 4/16/29 (a) | 200,000 | 184,040 | ||||||
| 4.250% 4/16/39 (a) | 800,000 | 703,432 | ||||||
| 887,472 | ||||||||
| South Africa — 0.2% | ||||||||
| Transnet SOC Ltd. | ||||||||
| 8.250% 2/06/28 (a) | 200,000 | 194,250 | ||||||
| Tanzania, United Republic Of — 0.2% | ||||||||
| HTA Group Ltd. | ||||||||
| 7.000% 12/18/25 (a) | 200,000 | 188,880 | ||||||
| Thailand — 1.1% | ||||||||
| Bangkok Bank PCL | ||||||||
| 5 yr. CMT + 2.150% 3.466% VRN 9/23/36 (a) | 200,000 | 162,774 | ||||||
| 5 yr. CMT + 1.900% 3.733% VRN 9/25/34 (a) | 375,000 | 317,884 | ||||||
| Thaioil Treasury Center Co. Ltd. | ||||||||
| 3.500% 10/17/49 (a) | 200,000 | 126,773 | ||||||
| 3.500% 10/17/49 (a) | 425,000 | 269,392 | ||||||
| 876,823 | ||||||||
| United Arab Emirates — 0.8% | ||||||||
| DP World Crescent Ltd. | ||||||||
| 3.875% 7/18/29 (a) | 300,000 | 283,822 | ||||||
| Emirates NBD Bank PJSC 6 yr. CMT + 3.656% | ||||||||
| 6.125% VRN (a) (b) | 200,000 | 197,055 | ||||||
| Ruwais Power Co. PJSC | ||||||||
| 6.000% 8/31/36 (a) | 200,000 | 207,500 | ||||||
| 688,377 | ||||||||
| United States — 0.9% | ||||||||
| Hyundai Capital America | ||||||||
| 5.600% 3/30/28 (a) | 175,000 | 174,085 | ||||||
| International Bank for Reconstruction & Development | ||||||||
| 0.000% 3/31/27 | 275,000 | 248,211 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| LCPR Senior Secured Financing DAC | ||||||||
| 5.125% 7/15/29 (a) | $ | 400,000 | $ | 336,114 | ||||
| 758,410 | ||||||||
| Venezuela — 0.6% | ||||||||
| Petroleos de Venezuela SA | ||||||||
| 5.375% 4/12/27 (a) (d) | 900,000 | 27,279 | ||||||
| 6.000% 5/16/24 (a) (d) | 2,400,000 | 84,000 | ||||||
| 6.000% 11/15/26 (a) (d) | 1,750,000 | 54,250 | ||||||
| 8.500% 10/27/20 (a) (d) | 250,000 | 98,750 | ||||||
| 9.000% 11/17/21 (a) (d) | 4,990,000 | 174,650 | ||||||
| 9.750% 5/17/35 (a) (d) | 150,000 | 5,325 | ||||||
| 12.750% 2/17/22 (a) (d) | 1,500,000 | 54,000 | ||||||
| 498,254 | ||||||||
| TOTAL CORPORATE DEBT (Cost $26,485,032) | 21,221,732 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 69.3% | ||||||||
| Albania — 1.7% | ||||||||
| Albania Government International Bonds | ||||||||
| 3.500% 6/16/27 EUR (a) (e) | 190,000 | 190,742 | ||||||
| 3.500% 11/23/31 EUR (a) (e) | 600,000 | 542,947 | ||||||
| 3.500% 11/23/31 EUR (a) (e) | 590,000 | 533,897 | ||||||
| 5.900% 6/09/28 EUR (a) (e) | 130,000 | 138,593 | ||||||
| 1,406,179 | ||||||||
| Angola — 2.2% | ||||||||
| Angolan Government International Bonds | ||||||||
| 8.000% 11/26/29 (a) | 400,000 | 338,540 | ||||||
| 8.250% 5/09/28 (a) | 925,000 | 819,088 | ||||||
| 9.125% 11/26/49 (a) | 300,000 | 231,000 | ||||||
| 9.500% 11/12/25 (a) | 400,000 | 390,262 | ||||||
| 1,778,890 | ||||||||
| Argentina — 1.1% | ||||||||
| Argentina Government International Bonds | ||||||||
| 0.000% 12/15/35 | 845,000 | 8,889 | ||||||
| 0.500% STEP 7/09/30 | 396,224 | 131,573 | ||||||
| 1.500% STEP 7/09/35 | 649,923 | 193,877 | ||||||
| 3.875% STEP 1/09/38 | 1,677,891 | 591,497 | ||||||
| 925,836 | ||||||||
| Azerbaijan — 0.3% | ||||||||
| Azerbaijan International Bonds | ||||||||
| 3.500% 9/01/32 (a) | 300,000 | 256,163 | ||||||
| Bahamas — 0.7% | ||||||||
| Bahamas Government International Bonds | ||||||||
| 6.000% 11/21/28 (a) | 675,000 | 538,313 | ||||||
| Bahrain — 2.2% | ||||||||
| Bahrain Government International Bonds | ||||||||
| 5.625% 5/18/34 (a) | 700,000 | 608,724 | ||||||
| 6.750% 9/20/29 (a) | 350,000 | 347,095 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.000% 10/12/28 (a) | $ | 675,000 | $ | 690,822 | ||||
| 7.500% 9/20/47 (a) | 200,000 | 181,634 | ||||||
| 1,828,275 | ||||||||
| Barbados — 0.1% | ||||||||
| Barbados Government International Bonds | ||||||||
| 6.500% 10/01/29 (a) | 75,000 | 70,035 | ||||||
| Bermuda — 0.5% | ||||||||
| Bermuda Government International Bonds | ||||||||
| 5.000% 7/15/32 (a) | 400,000 | 390,000 | ||||||
| Brazil — 1.1% | ||||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/29 BRL (e) | 650,000 | 126,225 | ||||||
| 10.000% 1/01/31 BRL (e) | 3,100,000 | 598,060 | ||||||
| Brazilian Government International Bonds | ||||||||
| 5.000% 1/27/45 | 240,000 | 186,823 | ||||||
| 911,108 | ||||||||
| Bulgaria — 0.4% | ||||||||
| Bulgaria Government International Bonds | ||||||||
| 4.500% 1/27/33 EUR (a) (e) | 310,000 | 334,509 | ||||||
| Chile — 0.7% | ||||||||
| Chile Government International Bonds | ||||||||
| 3.500% 1/31/34 | 200,000 | 176,018 | ||||||
| 4.000% 1/31/52 | 200,000 | 162,892 | ||||||
| 4.950% 1/05/36 (f) | 200,000 | 197,321 | ||||||
| 536,231 | ||||||||
| Colombia — 3.2% | ||||||||
| Colombia Government International Bonds | ||||||||
| 3.000% 1/30/30 | 600,000 | 465,920 | ||||||
| 3.125% 4/15/31 | 400,000 | 301,200 | ||||||
| 4.125% 5/15/51 | 725,000 | 432,510 | ||||||
| 4.500% 1/28/26 | 200,000 | 190,235 | ||||||
| 5.000% 6/15/45 | 350,000 | 243,003 | ||||||
| 5.625% 2/26/44 | 400,000 | 297,103 | ||||||
| Colombia TES | ||||||||
| 7.000% 3/26/31 COP (e) | 3,359,800,000 | 678,811 | ||||||
| 2,608,782 | ||||||||
| Costa Rica — 0.2% | ||||||||
| Costa Rica Government International Bonds | ||||||||
| 5.625% 4/30/43 (a) | 200,000 | 171,464 | ||||||
| Dominican Republic — 4.7% | ||||||||
| Dominican Republic International Bonds | ||||||||
| 4.500% 1/30/30 (a) | 355,000 | 310,678 | ||||||
| 4.875% 9/23/32 (a) | 650,000 | 552,431 | ||||||
| 4.875% 9/23/32 (a) | 1,075,000 | 913,636 | ||||||
| 5.500% 2/22/29 (a) | 165,000 | 154,180 | ||||||
| 5.875% 1/30/60 (a) | 1,175,000 | 907,617 | ||||||
| 6.500% 2/15/48 (a) | 300,000 | 258,475 | ||||||
| 6.850% 1/27/45 (a) | 625,000 | 565,747 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.050% 2/03/31 (a) | $ | 150,000 | $ | 149,398 | ||||
| 3,812,162 | ||||||||
| Ecuador — 1.1% | ||||||||
| Ecuador Government International Bonds | ||||||||
| 0.000% 7/31/30 (a) | 165,446 | 47,629 | ||||||
| 1.500% STEP 7/31/40 (a) | 408,900 | 126,146 | ||||||
| 2.500% STEP 7/31/35 (a) | 50,000 | 17,226 | ||||||
| 2.500% STEP 7/31/35 (a) | 828,550 | 285,459 | ||||||
| 5.500% STEP 7/31/30 (a) | 927,100 | 445,776 | ||||||
| 922,236 | ||||||||
| Egypt — 1.1% | ||||||||
| Egypt Government International Bonds | ||||||||
| 5.875% 2/16/31 (a) | 200,000 | 109,640 | ||||||
| 7.600% 3/01/29 (a) | 275,000 | 177,403 | ||||||
| 8.500% 1/31/47 (a) | 550,000 | 290,895 | ||||||
| 8.500% 1/31/47 (a) | 640,000 | 338,496 | ||||||
| 916,434 | ||||||||
| El Salvador — 1.1% | ||||||||
| El Salvador Government International Bonds | ||||||||
| 5.875% 1/30/25 (a) | 590,000 | 520,334 | ||||||
| 6.375% 1/18/27 (a) | 125,000 | 86,714 | ||||||
| 7.650% 6/15/35 (a) | 100,000 | 58,654 | ||||||
| 7.650% 6/15/35 (a) | 360,000 | 211,154 | ||||||
| 876,856 | ||||||||
| Ghana — 0.2% | ||||||||
| Ghana Government International Bonds | ||||||||
| 10.750% 10/14/30 (a) | 200,000 | 133,720 | ||||||
| Guatemala — 1.2% | ||||||||
| Guatemala Government Bonds | ||||||||
| 4.875% 2/13/28 (a) | 400,000 | 379,711 | ||||||
| 5.250% 8/10/29 (a) | 200,000 | 190,061 | ||||||
| 5.375% 4/24/32 (a) | 200,000 | 189,378 | ||||||
| Guatemala Government International Bonds | ||||||||
| 6.600% 6/13/36 (a) | 200,000 | 201,109 | ||||||
| 960,259 | ||||||||
| India — 2.0% | ||||||||
| Export-Import Bank of India | ||||||||
| 2.250% 1/13/31 (a) | 200,000 | 160,853 | ||||||
| 2.250% 1/13/31 (a) | 205,000 | 164,874 | ||||||
| 3.250% 1/15/30 (a) | 1,500,000 | 1,321,815 | ||||||
| 1,647,542 | ||||||||
| Indonesia — 6.0% | ||||||||
| Indonesia Government International Bonds | ||||||||
| 4.550% 1/11/28 | 200,000 | 197,238 | ||||||
| 4.625% 4/15/43 (a) | 1,400,000 | 1,325,218 | ||||||
| Indonesia Treasury Bonds | ||||||||
| 6.125% 5/15/28 IDR (e) | 8,304,000,000 | 556,094 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Perusahaan Penerbit SBSN Indonesia III | ||||||||
| 2.800% 6/23/30 (a) | $ | 650,000 | $ | 573,088 | ||||
| 3.800% 6/23/50 (a) | 200,000 | 157,581 | ||||||
| 4.450% 2/20/29 (a) | 775,000 | 761,374 | ||||||
| 4.550% 3/29/26 (a) | 1,350,000 | 1,338,595 | ||||||
| 4,909,188 | ||||||||
| Ivory Coast — 2.8% | ||||||||
| Ivory Coast Government International Bonds | ||||||||
| 4.875% 1/30/32 EUR (a) (e) | 250,000 | 211,928 | ||||||
| 6.125% 6/15/33 (a) | 1,925,000 | 1,684,298 | ||||||
| 6.625% 3/22/48 EUR (a) (e) | 525,000 | 405,049 | ||||||
| 2,301,275 | ||||||||
| Jamaica — 1.2% | ||||||||
| Jamaica Government International Bonds | ||||||||
| 6.750% 4/28/28 | 200,000 | 208,517 | ||||||
| 8.000% 3/15/39 | 500,000 | 595,515 | ||||||
| 8.000% 3/15/39 | 175,000 | 208,430 | ||||||
| 1,012,462 | ||||||||
| Jordan — 2.1% | ||||||||
| Jordan Government International Bonds | ||||||||
| 5.850% 7/07/30 (a) | 1,200,000 | 1,098,000 | ||||||
| 7.500% 1/13/29 (a) (c) | 400,000 | 399,240 | ||||||
| 7.750% 1/15/28 (a) | 240,000 | 244,099 | ||||||
| 1,741,339 | ||||||||
| Kenya — 0.6% | ||||||||
| Kenya Government International Bonds | ||||||||
| 7.250% 2/28/28 (a) | 600,000 | 519,010 | ||||||
| Mexico — 1.1% | ||||||||
| Mexico Government International Bonds | ||||||||
| 6.350% 2/09/35 | 380,000 | 399,491 | ||||||
| 7.750% 5/29/31 MXN (e) | 9,700,000 | 535,741 | ||||||
| 935,232 | ||||||||
| Morocco — 2.1% | ||||||||
| Morocco Government International Bonds | ||||||||
| 3.000% 12/15/32 (a) | 600,000 | 474,000 | ||||||
| 3.000% 12/15/32 (a) | 425,000 | 335,750 | ||||||
| 4.000% 12/15/50 (a) | 1,000,000 | 672,000 | ||||||
| 6.500% 9/08/33 (a) | 240,000 | 246,600 | ||||||
| 1,728,350 | ||||||||
| Nigeria — 0.8% | ||||||||
| Nigeria Government International Bonds | ||||||||
| 7.875% 2/16/32 (a) | 750,000 | 627,849 | ||||||
| Oman — 3.6% | ||||||||
| Oman Government International Bonds | ||||||||
| 4.750% 6/15/26 (a) | 600,000 | 582,761 | ||||||
| 4.750% 6/15/26 (a) | 350,000 | 339,944 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5.375% 3/08/27 (a) | $ | 200,000 | $ | 196,140 | ||||
| 5.625% 1/17/28 (a) | 200,000 | 197,669 | ||||||
| 6.000% 8/01/29 (a) | 200,000 | 199,802 | ||||||
| 6.500% 3/08/47 (a) | 390,000 | 362,700 | ||||||
| 6.750% 10/28/27 (a) | 200,000 | 206,520 | ||||||
| 6.750% 10/28/27 (a) | 400,000 | 413,040 | ||||||
| 6.750% 1/17/48 (a) | 300,000 | 287,743 | ||||||
| 7.000% 1/25/51 (a) | 200,000 | 197,638 | ||||||
| 2,983,957 | ||||||||
| Pakistan — 0.3% | ||||||||
| Pakistan Government International Bonds | ||||||||
| 7.875% 3/31/36 (a) | 562,000 | 255,710 | ||||||
| Panama — 3.0% | ||||||||
| Pakistan Government International Bonds | ||||||||
| 2.252% 9/29/32 (c) | 1,050,000 | 801,325 | ||||||
| 4.500% 1/19/63 | 360,000 | 262,754 | ||||||
| 6.400% 2/14/35 | 1,350,000 | 1,406,469 | ||||||
| 2,470,548 | ||||||||
| Paraguay — 1.6% | ||||||||
| Pakistan Government International Bonds | ||||||||
| 4.950% 4/28/31 (a) | 400,000 | 383,745 | ||||||
| 5.400% 3/30/50 (a) | 200,000 | 170,604 | ||||||
| 5.400% 3/30/50 (a) | 600,000 | 511,813 | ||||||
| Paraguay Government International Bonds | ||||||||
| 5.850% 8/21/33 (a) (f) | 200,000 | 199,970 | ||||||
| 1,266,132 | ||||||||
| Peru — 1.1% | ||||||||
| Peruvian Government International Bonds | ||||||||
| 2.780% 12/01/60 | 670,000 | 408,070 | ||||||
| 3.300% 3/11/41 | 300,000 | 230,898 | ||||||
| 3.550% 3/10/51 | 130,000 | 97,177 | ||||||
| 6.150% 8/12/32 PEN (a) (e) | 530,000 | 139,429 | ||||||
| 875,574 | ||||||||
| Philippines — 1.0% | ||||||||
| Philippines Government International Bonds | ||||||||
| 2.650% 12/10/45 | 900,000 | 604,802 | ||||||
| 4.625% 7/17/28 | 200,000 | 200,247 | ||||||
| 805,049 | ||||||||
| Poland — 0.5% | ||||||||
| Poland Government International Bonds | ||||||||
| 3.875% 2/14/33 EUR (a) (e) | 230,000 | 248,757 | ||||||
| 5.500% 4/04/53 | 120,000 | 120,673 | ||||||
| 369,430 | ||||||||
| Qatar — 1.4% | ||||||||
| Qatar Government International Bonds | ||||||||
| 4.400% 4/16/50 (a) | 200,000 | 181,750 | ||||||
| 4.400% 4/16/50 (a) | 200,000 | 181,750 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.817% 3/14/49 (a) | $ | 800,000 | $ | 767,936 | ||||
| 1,131,436 | ||||||||
| Republic of Korea — 0.5% | ||||||||
| Export-Import Bank of Korea | ||||||||
| 5.000% 1/11/28 | 200,000 | 200,485 | ||||||
| 5.125% 1/11/33 | 200,000 | 204,390 | ||||||
| 404,875 | ||||||||
| Romania — 1.8% | ||||||||
| Romania Government International Bonds | ||||||||
| 2.625% 12/02/40 EUR (a) (e) | 50,000 | 33,084 | ||||||
| 2.875% 4/13/42 EUR (a) (e) | 125,000 | 83,545 | ||||||
| 3.000% 2/14/31 (a) | 174,000 | 144,018 | ||||||
| 3.000% 2/14/31 (a) | 300,000 | 248,307 | ||||||
| 3.375% 1/28/50 EUR (a) (e) | 450,000 | 306,699 | ||||||
| 4.000% 2/14/51 (a) | 160,000 | 114,000 | ||||||
| 4.000% 2/14/51 (a) | 722,000 | 514,425 | ||||||
| 1,444,078 | ||||||||
| Saudi Arabia — 1.0% | ||||||||
| Saudi Government International Bonds | ||||||||
| 2.750% 2/03/32 (a) | 200,000 | 172,001 | ||||||
| 3.750% 1/21/55 (a) | 400,000 | 301,856 | ||||||
| 5.000% 4/17/49 (a) | 400,000 | 371,696 | ||||||
| 845,553 | ||||||||
| Senegal — 2.3% | ||||||||
| Senegal Government International Bonds | ||||||||
| 4.750% 3/13/28 EUR (a) (e) | 300,000 | 281,205 | ||||||
| 6.250% 5/23/33 (a) | 200,000 | 166,954 | ||||||
| 6.250% 5/23/33 (a) | 1,750,000 | 1,460,851 | ||||||
| 1,909,010 | ||||||||
| Serbia — 1.3% | ||||||||
| Senegal Government International Bonds | ||||||||
| 2.125% 12/01/30 (a) | 1,100,000 | 843,850 | ||||||
| 6.250% 5/26/28 (a) | 240,000 | 238,800 | ||||||
| 1,082,650 | ||||||||
| South Africa — 1.7% | ||||||||
| South Africa Government Bonds | ||||||||
| 8.000% 1/31/30 ZAR (e) | 5,835,000 | 273,703 | ||||||
| South Africa Government International Bonds | ||||||||
| 5.650% 9/27/47 | 210,000 | 148,167 | ||||||
| 5.875% 4/20/32 | 425,000 | 375,912 | ||||||
| 6.250% 3/08/41 | 400,000 | 323,000 | ||||||
| 7.300% 4/20/52 | 360,000 | 301,990 | ||||||
| 1,422,772 | ||||||||
| Sri Lanka — 1.3% | ||||||||
| Sri Lanka Government International Bonds | ||||||||
| 6.125% 6/03/25 (a) | 200,000 | 93,911 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.125% 6/03/25 (a) | $ | 500,000 | $ | 234,777 | ||||
| 6.825% 7/18/26 (a) | 200,000 | 92,997 | ||||||
| 6.850% 11/03/25 (a) | 1,400,000 | 656,634 | ||||||
| 1,078,319 | ||||||||
| Suriname — 0.6% | ||||||||
| Suriname Government International Bonds | ||||||||
| 9.250% 10/26/26 (a) | 631,000 | 523,730 | ||||||
| Turkey — 2.6% | ||||||||
| Turkey Government International Bonds | ||||||||
| 4.250% 4/14/26 | 200,000 | 178,445 | ||||||
| 4.875% 10/09/26 | 400,000 | 356,440 | ||||||
| 4.875% 4/16/43 | 450,000 | 288,081 | ||||||
| 6.000% 1/14/41 | 350,000 | 256,980 | ||||||
| 8.600% 9/24/27 | 275,000 | 270,050 | ||||||
| 9.375% 3/14/29 | 325,000 | 325,504 | ||||||
| 9.375% 1/19/33 | 230,000 | 230,277 | ||||||
| 9.875% 1/15/28 | 200,000 | 203,564 | ||||||
| 2,109,341 | ||||||||
| Uruguay — 0.5% | ||||||||
| Uruguay Government International Bonds | ||||||||
| 5.750% 10/28/34 | 355,000 | 383,273 | ||||||
| Venezuela — 0.2% | ||||||||
| Venezuela Government International Bonds | ||||||||
| 7.750% 10/13/19 (a) (d) | 1,000,000 | 52,500 | ||||||
| 9.250% 9/15/27 (d) | 300,000 | 25,500 | ||||||
| 11.750% 10/21/26 (a) (d) | 300,000 | 26,250 | ||||||
| 12.750% 8/23/22 (a) (d) | 255,000 | 21,675 | ||||||
| 125,925 | ||||||||
| Zambia — 0.5% | ||||||||
| Zambia Government International Bonds | ||||||||
| 5.375% 9/20/22 (a) (d) | 825,000 | 429,000 | ||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $65,378,230) | 56,716,061 | |||||||
| TOTAL BONDS & NOTES (Cost $91,863,262) | 77,937,793 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $91,863,262) | 77,937,793 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 4.8% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 859,575 | 859,575 | ||||||
| Mutual Fund — 2.3% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 1,913,825 | 1,913,825 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Repurchase Agreement — 1.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (h) | $ | 1,002,123 | $ | 1,002,123 | ||||
| U.S. Treasury Bill — 0.2% | ||||||||
| U.S. Treasury Bills | ||||||||
| 4.858% 8/31/23 (i) (j) | 120,000 | 118,985 | ||||||
| 5.088% 8/31/23 (i) (j) | 35,000 | 34,704 | ||||||
| 153,689 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,929,277) | 3,929,212 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $95,792,539) (k) | 81,867,005 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (4,679) | |||||||
| NET ASSETS — 100.0% | $ | 81,862,326 | ||||||
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) | 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 June 30, 2023, the aggregate market value of these securities amounted to $58,208,515 or 71.11% of net assets. |
| (b) | Security is perpetual and has no stated maturity date. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $1,558,666 or 1.90% of net assets. The Fund received $737,715 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). |
| (d) | 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 June 30, 2023, these securities amounted to a value of $1,053,179 or 1.29% of net assets. |
| (e) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (f) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $1,002,250. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,022,232. |
| (i) | The rate shown represents yield-to-maturity. |
| (j) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (k) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 9/05/23 | USD | 81,418 | BRL | 394,552 | $ | (66) | |||||||||
| Barclays Bank PLC | 7/14/23 | MXN | 1,759,256 | USD | $102,648 | (48) | ||||||||||
| Barclays Bank PLC | 8/25/23 | USD | 99,185 | EUR | 91,000 | (363) | ||||||||||
| Barclays Bank PLC | 10/13/23 | USD | 100,898 | MXN | 1,759,256 | 31 | ||||||||||
| BNP Paribas SA | 7/14/23 | ZAR | 1,879,686 | USD | 97,028 | 2,756 | ||||||||||
| BNP Paribas SA | 7/14/23 | MXN | 380,051 | USD | 21,865 | 300 | ||||||||||
| BNP Paribas SA | 8/25/23 | USD | 3,160,773 | EUR | 2,887,908 | 1,565 | ||||||||||
| BNP Paribas SA | 9/08/23 | USD | 110,154 | COP | 503,283,894 | (8,351) | ||||||||||
| Citibank N.A. | 7/07/23 | USD | 127,346 | PEN | 481,000 | (5,218) | ||||||||||
| Citibank N.A. | 7/07/23 | IDR | 770,437,805 | USD | 51,373 | 14 | ||||||||||
| Citibank N.A. | 7/14/23 | USD | 102,106 | MXN | 1,871,972 | (7,068) | ||||||||||
| Citibank N.A. | 8/25/23 | USD | 139,874 | EUR | 130,000 | (2,339) | ||||||||||
| Citibank N.A. | 9/08/23 | USD | 250,559 | COP | 1,132,388,762 | (16,076) | ||||||||||
| Citibank N.A. | 10/06/23 | USD | 51,304 | IDR | 770,437,805 | (48) | ||||||||||
| Goldman Sachs International | 7/07/23 | IDR | 672,759,336 | USD | 45,020 | (148) | ||||||||||
| Goldman Sachs International | 7/14/23 | MXN | 3,283,863 | USD | 191,462 | 54 | ||||||||||
| Goldman Sachs International | 9/08/23 | USD | 57,075 | COP | 243,939,000 | (363) | ||||||||||
| Goldman Sachs International | 10/06/23 | USD | 44,975 | IDR | 672,759,336 | 133 | ||||||||||
| Goldman Sachs International | 10/13/23 | USD | 188,221 | MXN | 3,283,863 | (58) | ||||||||||
| HSBC Bank USA | 7/07/23 | USD | 95,565 | IDR | 1,443,197,141 | (694) | ||||||||||
| HSBC Bank USA | 7/14/23 | USD | 118,597 | MXN | 2,183,967 | (8,773) | ||||||||||
| HSBC Bank USA | 9/05/23 | USD | 247,067 | BRL | 1,250,602 | (11,210) | ||||||||||
| Morgan Stanley & Co. LLC | 7/14/23 | USD | 278,516 | MXN | 5,120,394 | (20,108) | ||||||||||
| Morgan Stanley & Co. LLC | 7/14/23 | MXN | 2,111,108 | USD | 122,985 | 136 | ||||||||||
| Morgan Stanley & Co. LLC | 9/05/23 | USD | 247,067 | BRL | 1,250,602 | (11,210) | ||||||||||
| Morgan Stanley & Co. LLC | 9/08/23 | USD | 147,434 | COP | 671,045,193 | (10,572) | ||||||||||
| Morgan Stanley & Co. LLC | 10/13/23 | USD | 120,884 | MXN | 2,111,108 | (156) | ||||||||||
| UBS AG | 7/07/23 | PEN | 481,000 | USD | 132,855 | (291) | ||||||||||
| UBS AG | 7/14/23 | USD | 398,983 | ZAR | 7,354,861 | 8,547 | ||||||||||
| UBS AG | 9/08/23 | USD | 83,270 | COP | 377,462,921 | (5,608) | ||||||||||
| UBS AG | 10/06/23 | USD | 131,980 | PEN | 481,000 | 322 | ||||||||||
| $ | (94,910) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 29 | $ | 3,908,924 | $ | 41,420 | ||||||||
| Short | ||||||||||||||
| U.S. Treasury Note 10 Year | 9/20/23 | 49 | $ | (5,582,931) | $ | 81,915 | ||||||||
Currency Legend
| BRL | Brazilian Real |
| COP | Colombian Peso |
| EUR | Euro |
| IDR | Indonesian Rupiah |
| MXN | Mexican Peso |
| PEN | Peruvian New Sol |
| USD | U.S. Dollar |
| ZAR | South African Rand |
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 99.4% | ||||||||
| COMMON STOCK — 98.7% | ||||||||
| Basic Materials — 1.0% | ||||||||
| Chemicals — 0.8% | ||||||||
| Air Products & Chemicals, Inc. | 313 | $ | 93,753 | |||||
| CF Industries Holdings, Inc. | 3,217 | 223,324 | ||||||
| FMC Corp. | 899 | 93,802 | ||||||
| Linde PLC | 26,926 | 10,260,960 | ||||||
| Nutrien Ltd. | 142,702 | 8,426,553 | ||||||
| RPM International, Inc. | 1,841 | 165,193 | ||||||
| Sherwin-Williams Co. | 1,690 | 448,729 | ||||||
| 19,712,314 | ||||||||
| Iron & Steel — 0.0% | ||||||||
| Steel Dynamics, Inc. | 900 | 98,037 | ||||||
| Mining — 0.2% | ||||||||
| Freeport-McMoRan, Inc. | 112,559 | 4,502,360 | ||||||
| Newmont Corp. | 2,400 | 102,384 | ||||||
| 4,604,744 | ||||||||
| 24,415,095 | ||||||||
| Communications — 13.7% | ||||||||
| Advertising — 0.2% | ||||||||
| Trade Desk, Inc. Class A (a) | 64,508 | 4,981,308 | ||||||
| Internet — 12.2% | ||||||||
| Alphabet, Inc. Class A (a) | 446,248 | 53,415,886 | ||||||
| Alphabet, Inc. Class C (a) | 364,098 | 44,044,935 | ||||||
| Amazon.com, Inc. (a) | 731,414 | 95,347,129 | ||||||
| Booking Holdings, Inc. (a) | 6,216 | 16,785,251 | ||||||
| Coupang, Inc. (a) | 288,027 | 5,011,670 | ||||||
| Gen Digital, Inc. | 19,800 | 367,290 | ||||||
| Match Group, Inc. (a) | 64,618 | 2,704,263 | ||||||
| Meta Platforms, Inc. Class A (a) | 123,214 | 35,359,954 | ||||||
| Netflix, Inc. (a) | 32,659 | 14,385,963 | ||||||
| Pinterest, Inc. Class A (a) | 232,195 | 6,348,211 | ||||||
| Shopify, Inc. Class A (a) | 81,357 | 5,255,662 | ||||||
| Spotify Technology SA (a) | 31,885 | 5,119,137 | ||||||
| 284,145,351 | ||||||||
| Media — 0.2% | ||||||||
| Charter Communications, Inc. Class A (a) | 520 | 191,033 | ||||||
| Comcast Corp. Class A | 6,124 | 254,452 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Walt Disney Co. (a) | 51,069 | $ | 4,559,440 | |||||
| 5,004,925 | ||||||||
| Telecommunications — 1.1% | ||||||||
| Arista Networks, Inc. (a) | 1,645 | 266,589 | ||||||
| AT&T, Inc. | 6,851 | 109,273 | ||||||
| Cisco Systems, Inc. | 4,881 | 252,543 | ||||||
| T-Mobile U.S., Inc. (a) | 143,334 | 19,909,092 | ||||||
| Verizon Communications, Inc. | 153,088 | 5,693,343 | ||||||
| 26,230,840 | ||||||||
| 320,362,424 | ||||||||
| Consumer, Cyclical — 6.2% | ||||||||
| Airlines — 0.0% | ||||||||
| Alaska Air Group, Inc. (a) | 800 | 42,544 | ||||||
| Southwest Airlines Co. | 4,761 | 172,396 | ||||||
| United Airlines Holdings, Inc. (a) | 2,400 | 131,688 | ||||||
| 346,628 | ||||||||
| Apparel — 0.1% | ||||||||
| NIKE, Inc. Class B | 8,505 | 938,697 | ||||||
| Auto Manufacturers — 2.0% | ||||||||
| Cummins, Inc. | 31,099 | 7,624,231 | ||||||
| Ferrari NV | 23,771 | 7,730,567 | ||||||
| General Motors Co. | 103,515 | 3,991,538 | ||||||
| PACCAR, Inc. | 2,821 | 235,977 | ||||||
| Rivian Automotive, Inc. Class A (a) (b) | 512,038 | 8,530,553 | ||||||
| Tesla, Inc. (a) | 70,263 | 18,392,745 | ||||||
| 46,505,611 | ||||||||
| Auto Parts & Equipment — 0.0% | ||||||||
| Aptiv PLC (a) | 2,595 | 264,924 | ||||||
| Magna International, Inc. (b) | 2,582 | 145,728 | ||||||
| 410,652 | ||||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Copart, Inc. (a) | 1,996 | 182,055 | ||||||
| Home Builders — 0.0% | ||||||||
| NVR, Inc. (a) | 51 | 323,881 | ||||||
| Leisure Time — 0.0% | ||||||||
| Royal Caribbean Cruises Ltd. (a) | 2,662 | 276,156 | ||||||
| Lodging — 0.3% | ||||||||
| Hilton Worldwide Holdings, Inc. | 2,566 | 373,481 | ||||||
| Las Vegas Sands Corp. (a) | 102,154 | 5,924,932 | ||||||
| Marriott International, Inc. Class A | 798 | 146,585 | ||||||
| Wynn Resorts Ltd. | 2,093 | 221,042 | ||||||
| 6,666,040 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Retail — 3.8% | ||||||||
| AutoZone, Inc. (a) | 2,446 | $ | 6,098,759 | |||||
| Bath & Body Works, Inc. | 33,746 | 1,265,475 | ||||||
| Best Buy Co., Inc. | 33,586 | 2,752,373 | ||||||
| Burlington Stores, Inc. (a) | 1,530 | 240,807 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 4,952 | 10,592,328 | ||||||
| Costco Wholesale Corp. | 2,226 | 1,198,434 | ||||||
| Dollar General Corp. | 1,687 | 286,419 | ||||||
| Dollar Tree, Inc. (a) | 1,551 | 222,568 | ||||||
| Floor & Decor Holdings, Inc. Class A (a) | 28,603 | 2,973,568 | ||||||
| Genuine Parts Co. | 800 | 135,384 | ||||||
| Home Depot, Inc. | 16,747 | 5,202,288 | ||||||
| Lowe's Cos., Inc. | 1,870 | 422,059 | ||||||
| Lululemon Athletica, Inc. (a) | 6,718 | 2,542,763 | ||||||
| McDonald's Corp. | 44,345 | 13,232,991 | ||||||
| O'Reilly Automotive, Inc. (a) | 3,906 | 3,731,402 | ||||||
| Ross Stores, Inc. | 63,630 | 7,134,832 | ||||||
| Starbucks Corp. | 5,123 | 507,484 | ||||||
| Target Corp. | 37,090 | 4,892,171 | ||||||
| TJX Cos., Inc. | 41,395 | 3,509,882 | ||||||
| Ulta Beauty, Inc. (a) | 19,256 | 9,061,777 | ||||||
| Walmart, Inc. | 81,436 | 12,800,110 | ||||||
| 88,803,874 | ||||||||
| 144,453,594 | ||||||||
| Consumer, Non-cyclical — 21.2% | ||||||||
| Agriculture — 0.9% | ||||||||
| Altria Group, Inc. | 7,203 | 326,296 | ||||||
| Darling Ingredients, Inc. (a) | 1,454 | 92,751 | ||||||
| Philip Morris International, Inc. | 206,438 | 20,152,477 | ||||||
| 20,571,524 | ||||||||
| Beverages — 1.1% | ||||||||
| Coca-Cola Co. | 145,368 | 8,754,061 | ||||||
| Constellation Brands, Inc. Class A | 27,005 | 6,646,741 | ||||||
| Keurig Dr Pepper, Inc. | 11,772 | 368,110 | ||||||
| Monster Beverage Corp. (a) | 7,068 | 405,986 | ||||||
| PepsiCo, Inc. | 45,772 | 8,477,890 | ||||||
| 24,652,788 | ||||||||
| Biotechnology — 1.5% | ||||||||
| Amgen, Inc. | 47,143 | 10,466,689 | ||||||
| Apellis Pharmaceuticals, Inc. (a) | 1,100 | 100,210 | ||||||
| Argenx SE ADR (a) | 12,348 | 4,812,386 | ||||||
| Biogen, Inc. (a) | 821 | 233,862 | ||||||
| Gilead Sciences, Inc. | 3,937 | 303,425 | ||||||
| Illumina, Inc. (a) | 713 | 133,680 | ||||||
| Legend Biotech Corp. ADR (a) | 20,045 | 1,383,706 | ||||||
| Moderna, Inc. (a) | 732 | 88,938 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 10,704 | 7,691,252 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 27,801 | 9,783,450 | ||||||
| 34,997,598 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Commercial Services — 1.1% | ||||||||
| Ant International Co. Ltd., Class C (Acquired 6/07/18, Cost $1,171,890) (a) (c) (d) (e) | 307,471 | $ | 541,149 | |||||
| Booz Allen Hamilton Holding Corp. | 34,583 | 3,859,463 | ||||||
| Cintas Corp. | 5,319 | 2,643,969 | ||||||
| CoStar Group, Inc. (a) | 1,003 | 89,267 | ||||||
| FleetCor Technologies, Inc. (a) | 17,475 | 4,387,623 | ||||||
| Global Payments, Inc. | 25,545 | 2,516,693 | ||||||
| MarketAxess Holdings, Inc. | 400 | 104,568 | ||||||
| Moody's Corp. | 1,106 | 384,578 | ||||||
| S&P Global, Inc. | 1,493 | 598,529 | ||||||
| Service Corp. International | 52,551 | 3,394,269 | ||||||
| TransUnion | 64,286 | 5,035,522 | ||||||
| United Rentals, Inc. | 133 | 59,234 | ||||||
| Verisk Analytics, Inc. | 12,997 | 2,937,712 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 835 | 39,905 | ||||||
| 26,592,481 | ||||||||
| Cosmetics & Personal Care — 1.6% | ||||||||
| Colgate-Palmolive Co. | 36,477 | 2,810,188 | ||||||
| elf Beauty, Inc. (a) | 900 | 102,807 | ||||||
| Estee Lauder Cos., Inc. Class A | 21,869 | 4,294,634 | ||||||
| Kenvue, Inc. (a) | 204,151 | 5,393,669 | ||||||
| Procter & Gamble Co. | 164,352 | 24,938,773 | ||||||
| 37,540,071 | ||||||||
| Food — 1.6% | ||||||||
| General Mills, Inc. | 91,102 | 6,987,523 | ||||||
| Hershey Co. | 13,923 | 3,476,573 | ||||||
| Kraft Heinz Co. | 167,412 | 5,943,126 | ||||||
| Mondelez International, Inc. Class A | 278,987 | 20,349,312 | ||||||
| Sysco Corp. | 3,218 | 238,776 | ||||||
| Tyson Foods, Inc. Class A | 1,500 | 76,560 | ||||||
| 37,071,870 | ||||||||
| Health Care – Products — 3.2% | ||||||||
| Abbott Laboratories | 5,242 | 571,483 | ||||||
| Align Technology, Inc. (a) | 5,822 | 2,058,892 | ||||||
| Avantor, Inc. (a) | 151,636 | 3,114,603 | ||||||
| Baxter International, Inc. | 8,200 | 373,592 | ||||||
| Boston Scientific Corp. (a) | 2,620 | 141,716 | ||||||
| Danaher Corp. | 67,497 | 16,199,280 | ||||||
| Dentsply Sirona, Inc. | 3,700 | 148,074 | ||||||
| GE HealthCare Technologies, Inc. (a) | 105,710 | 8,587,880 | ||||||
| Intuitive Surgical, Inc. (a) | 44,037 | 15,058,012 | ||||||
| Medtronic PLC | 55,759 | 4,912,368 | ||||||
| Steris PLC | 13,127 | 2,953,313 | ||||||
| Stryker Corp. | 12,911 | 3,939,017 | ||||||
| Teleflex, Inc. | 1,500 | 363,045 | ||||||
| Thermo Fisher Scientific, Inc. | 29,451 | 15,366,059 | ||||||
| West Pharmaceutical Services, Inc. | 288 | 110,151 | ||||||
| Zimmer Biomet Holdings, Inc. | 3,116 | 453,690 | ||||||
| 74,351,175 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Services — 4.5% | ||||||||
| Charles River Laboratories International, Inc. (a) | 664 | $ | 139,606 | |||||
| Elevance Health, Inc. | 75,397 | 33,498,133 | ||||||
| HCA Healthcare, Inc. | 46,565 | 14,131,547 | ||||||
| Humana, Inc. | 31,593 | 14,126,178 | ||||||
| ICON PLC (a) | 400 | 100,080 | ||||||
| IQVIA Holdings, Inc. (a) | 483 | 108,564 | ||||||
| Molina Healthcare, Inc. (a) | 11,925 | 3,592,287 | ||||||
| Quest Diagnostics, Inc. | 18,059 | 2,538,373 | ||||||
| UnitedHealth Group, Inc. | 77,194 | 37,102,524 | ||||||
| 105,337,292 | ||||||||
| Household Products & Wares — 0.0% | ||||||||
| Avery Dennison Corp. | 904 | 155,307 | ||||||
| Kimberly-Clark Corp. | 582 | 80,351 | ||||||
| 235,658 | ||||||||
| Pharmaceuticals — 5.7% | ||||||||
| AbbVie, Inc. | 9,729 | 1,310,788 | ||||||
| AmerisourceBergen Corp. | 126,037 | 24,253,300 | ||||||
| AstraZeneca PLC Sponsored ADR | 132,286 | 9,467,709 | ||||||
| Becton Dickinson & Co. | 40,314 | 10,643,299 | ||||||
| Bristol-Myers Squibb Co. | 2,033 | 130,010 | ||||||
| Cigna Group | 29,966 | 8,408,459 | ||||||
| Dexcom, Inc. (a) | 3,514 | 451,584 | ||||||
| Eli Lilly & Co. | 60,915 | 28,567,917 | ||||||
| Johnson & Johnson | 145,517 | 24,085,974 | ||||||
| McKesson Corp. | 11,764 | 5,026,875 | ||||||
| Merck & Co., Inc. | 146,353 | 16,887,673 | ||||||
| Novo Nordisk AS Sponsored ADR | 2,249 | 363,956 | ||||||
| Pfizer, Inc. | 14,062 | 515,794 | ||||||
| Viatris, Inc. | 39,531 | 394,519 | ||||||
| Zoetis, Inc. | 20,808 | 3,583,346 | ||||||
| 134,091,203 | ||||||||
| 495,441,660 | ||||||||
| Energy — 3.8% | ||||||||
| Energy – Alternate Sources — 0.0% | ||||||||
| Enphase Energy, Inc. (a) | 465 | 77,878 | ||||||
| First Solar, Inc. (a) | 358 | 68,052 | ||||||
| SolarEdge Technologies, Inc. (a) | 415 | 111,656 | ||||||
| 257,586 | ||||||||
| Oil & Gas — 2.8% | ||||||||
| Chesapeake Energy Corp. | 700 | 58,576 | ||||||
| Chevron Corp. | 112,970 | 17,775,830 | ||||||
| ConocoPhillips | 9,553 | 989,786 | ||||||
| EOG Resources, Inc. | 4,345 | 497,242 | ||||||
| EQT Corp. | 266,838 | 10,975,047 | ||||||
| Exxon Mobil Corp. | 220,501 | 23,648,732 | ||||||
| Hess Corp. | 2,793 | 379,708 | ||||||
| Marathon Petroleum Corp. | 3,514 | 409,732 | ||||||
| Pioneer Natural Resources Co. | 1,004 | 208,009 | ||||||
| Range Resources Corp. | 233,592 | 6,867,605 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Southwestern Energy Co. (a) | 388,575 | $ | 2,335,336 | |||||
| Suncor Energy, Inc. (b) | 4,300 | 126,076 | ||||||
| Valero Energy Corp. | 1,300 | 152,490 | ||||||
| 64,424,169 | ||||||||
| Oil & Gas Services — 0.4% | ||||||||
| Halliburton Co. | 43,720 | 1,442,323 | ||||||
| Nov, Inc. | 71,146 | 1,141,182 | ||||||
| Schlumberger NV | 151,700 | 7,451,504 | ||||||
| 10,035,009 | ||||||||
| Pipelines — 0.6% | ||||||||
| Kinder Morgan, Inc. | 480,884 | 8,280,822 | ||||||
| Williams Cos., Inc. | 163,890 | 5,347,731 | ||||||
| 13,628,553 | ||||||||
| 88,345,317 | ||||||||
| Financial — 14.3% | ||||||||
| Banks — 4.5% | ||||||||
| Bank of America Corp. | 774,222 | 22,212,429 | ||||||
| Citigroup, Inc. | 8,615 | 396,635 | ||||||
| East West Bancorp, Inc. | 25,718 | 1,357,653 | ||||||
| Fifth Third Bancorp | 13,678 | 358,500 | ||||||
| Goldman Sachs Group, Inc. | 27,870 | 8,989,190 | ||||||
| Huntington Bancshares, Inc. | 24,790 | 267,236 | ||||||
| JP Morgan Chase & Co. | 225,954 | 32,862,750 | ||||||
| Morgan Stanley | 8,120 | 693,448 | ||||||
| PNC Financial Services Group, Inc. | 105,911 | 13,339,491 | ||||||
| Regions Financial Corp. | 2,700 | 48,114 | ||||||
| The Bank of New York Mellon Corp. | 6,007 | 267,432 | ||||||
| Truist Financial Corp. | 2,300 | 69,805 | ||||||
| U.S. Bancorp | 250,673 | 8,282,236 | ||||||
| Wells Fargo & Co. | 387,105 | 16,521,641 | ||||||
| Western Alliance Bancorp | 1,700 | 61,999 | ||||||
| 105,728,559 | ||||||||
| Diversified Financial Services — 3.4% | ||||||||
| American Express Co. | 59,004 | 10,278,497 | ||||||
| Apollo Global Management, Inc. | 3,519 | 270,294 | ||||||
| BlackRock, Inc. | 334 | 230,841 | ||||||
| Capital One Financial Corp. | 894 | 97,777 | ||||||
| Cboe Global Markets, Inc. | 18,428 | 2,543,248 | ||||||
| Charles Schwab Corp. | 70,702 | 4,007,389 | ||||||
| CME Group, Inc. | 1,665 | 308,508 | ||||||
| Discover Financial Services | 1,000 | 116,850 | ||||||
| Intercontinental Exchange, Inc. | 4,316 | 488,053 | ||||||
| Maplebear, Inc., (Non-Voting) (Acquired 8/07/20, Cost $14,781) (a) (c) (d) (e) | 319 | 10,368 | ||||||
| Maplebear, Inc., (Voting) (Acquired 8/07/20, Cost $282,637) (a) (c) (d) (e) | 6,100 | 198,250 | ||||||
| Mastercard, Inc. Class A | 59,177 | 23,274,314 | ||||||
| Visa, Inc. Class A | 157,338 | 37,364,628 | ||||||
| 79,189,017 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Insurance — 5.1% | ||||||||
| American International Group, Inc. | 13,984 | $ | 804,639 | |||||
| Berkshire Hathaway, Inc. Class B (a) | 91,109 | 31,068,169 | ||||||
| Chubb Ltd. | 106,663 | 20,539,027 | ||||||
| Corebridge Financial, Inc. | 189,443 | 3,345,563 | ||||||
| Equitable Holdings, Inc. | 14,124 | 383,608 | ||||||
| Hartford Financial Services Group, Inc. | 110,469 | 7,955,978 | ||||||
| Marsh & McLennan Cos., Inc. | 2,098 | 394,592 | ||||||
| MetLife, Inc. | 321,810 | 18,191,919 | ||||||
| Progressive Corp. | 133,423 | 17,661,203 | ||||||
| RenaissanceRe Holdings Ltd. | 1,690 | 315,219 | ||||||
| The Allstate Corp. | 75,122 | 8,191,303 | ||||||
| Travelers Cos., Inc. | 59,961 | 10,412,827 | ||||||
| 119,264,047 | ||||||||
| Private Equity — 0.0% | ||||||||
| Ares Management Corp. Class A | 2,490 | 239,912 | ||||||
| Real Estate Investment Trusts (REITS) — 1.3% | ||||||||
| American Homes 4 Rent Class A | 3,182 | 112,802 | ||||||
| American Tower Corp. | 2,055 | 398,547 | ||||||
| AvalonBay Communities, Inc. | 1,150 | 217,660 | ||||||
| Equinix, Inc. | 544 | 426,463 | ||||||
| Equity LifeStyle Properties, Inc. | 67,099 | 4,488,252 | ||||||
| Essex Property Trust, Inc. | 606 | 141,986 | ||||||
| Extra Space Storage, Inc. | 1,091 | 162,395 | ||||||
| Life Storage, Inc. | 20,834 | 2,770,089 | ||||||
| Prologis, Inc. | 50,070 | 6,140,084 | ||||||
| Public Storage | 32,475 | 9,478,803 | ||||||
| Rexford Industrial Realty, Inc. | 4,993 | 260,734 | ||||||
| SBA Communications Corp. | 1,651 | 382,636 | ||||||
| Simon Property Group, Inc. | 1,549 | 178,879 | ||||||
| Sun Communities, Inc. | 675 | 88,060 | ||||||
| Welltower, Inc. | 3,774 | 305,279 | ||||||
| Weyerhaeuser Co. | 143,592 | 4,811,768 | ||||||
| 30,364,437 | ||||||||
| 334,785,972 | ||||||||
| Industrial — 8.5% | ||||||||
| Aerospace & Defense — 1.2% | ||||||||
| Airbus SE | 33,614 | 4,859,083 | ||||||
| Boeing Co. (a) | 2,399 | 506,573 | ||||||
| General Dynamics Corp. | 27,197 | 5,851,435 | ||||||
| Howmet Aerospace, Inc. | 900 | 44,604 | ||||||
| L3 Harris Technologies, Inc. | 64,263 | 12,580,767 | ||||||
| Northrop Grumman Corp. | 8,611 | 3,924,894 | ||||||
| Raytheon Technologies Corp. | 5,240 | 513,310 | ||||||
| TransDigm Group, Inc. | 574 | 513,254 | ||||||
| 28,793,920 | ||||||||
| Building Materials — 0.5% | ||||||||
| Carrier Global Corp. | 188,942 | 9,392,307 | ||||||
| Johnson Controls International PLC | 2,069 | 140,982 | ||||||
| Trane Technologies PLC | 675 | 129,100 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Vulcan Materials Co. | 1,159 | $ | 261,285 | |||||
| West Fraser Timber Co. Ltd. | 2,486 | 213,746 | ||||||
| 10,137,420 | ||||||||
| Electrical Components & Equipment — 0.6% | ||||||||
| AMETEK, Inc. | 78,075 | 12,638,781 | ||||||
| Emerson Electric Co. | 900 | 81,351 | ||||||
| 12,720,132 | ||||||||
| Electronics — 1.4% | ||||||||
| Agilent Technologies, Inc. | 23,509 | 2,826,957 | ||||||
| Amphenol Corp. Class A | 53,310 | 4,528,684 | ||||||
| Honeywell International, Inc. | 32,873 | 6,821,147 | ||||||
| Hubbell, Inc. | 27,053 | 8,969,693 | ||||||
| TE Connectivity Ltd. | 66,986 | 9,388,758 | ||||||
| Trimble, Inc. (a) | 4,253 | 225,154 | ||||||
| 32,760,393 | ||||||||
| Environmental Controls — 0.0% | ||||||||
| Republic Services, Inc. | 1,085 | 166,189 | ||||||
| Waste Connections, Inc. | 2,561 | 366,044 | ||||||
| 532,233 | ||||||||
| Hand & Machine Tools — 0.0% | ||||||||
| Stanley Black & Decker, Inc. | 6,167 | 577,910 | ||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Caterpillar, Inc. | 864 | 212,587 | ||||||
| Machinery – Diversified — 0.6% | ||||||||
| Deere & Co. | 5,652 | 2,290,134 | ||||||
| Dover Corp. | 11,852 | 1,749,948 | ||||||
| Ingersoll Rand, Inc. | 6,604 | 431,637 | ||||||
| Otis Worldwide Corp. | 3,648 | 324,709 | ||||||
| Rockwell Automation, Inc. | 470 | 154,842 | ||||||
| Westinghouse Air Brake Technologies Corp. | 88,938 | 9,753,830 | ||||||
| 14,705,100 | ||||||||
| Miscellaneous - Manufacturing — 2.1% | ||||||||
| 3M Co. | 1,600 | 160,144 | ||||||
| Eaton Corp. PLC | 71,918 | 14,462,710 | ||||||
| General Electric Co. | 164,617 | 18,083,177 | ||||||
| Siemens AG Registered | 26,910 | 4,479,130 | ||||||
| Teledyne Technologies, Inc. (a) | 26,016 | 10,695,438 | ||||||
| 47,880,599 | ||||||||
| Packaging & Containers — 0.0% | ||||||||
| Ball Corp. | 4,263 | 248,149 | ||||||
| Packaging Corp. of America | 597 | 78,900 | ||||||
| Sealed Air Corp. | 2,591 | 103,640 | ||||||
| WestRock Co. | 3,887 | 112,995 | ||||||
| 543,684 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Shipbuilding — 0.0% | ||||||||
| Huntington Ingalls Industries, Inc. | 800 | $ | 182,080 | |||||
| Transportation — 2.1% | ||||||||
| Canadian Pacific Kansas City Ltd. (b) | 1,038 | 83,839 | ||||||
| CSX Corp. | 560,646 | 19,118,029 | ||||||
| FedEx Corp. | 11,566 | 2,867,211 | ||||||
| JB Hunt Transport Services, Inc. | 1,652 | 299,062 | ||||||
| Norfolk Southern Corp. | 24,560 | 5,569,226 | ||||||
| Old Dominion Freight Line, Inc. | 25,096 | 9,279,246 | ||||||
| Saia, Inc. (a) | 914 | 312,963 | ||||||
| Union Pacific Corp. | 53,517 | 10,950,648 | ||||||
| 48,480,224 | ||||||||
| 197,526,282 | ||||||||
| Technology — 28.0% | ||||||||
| Commercial Services — 0.0% | ||||||||
| Celonis SE (Acquired 6/17/21, Cost $435,243) (a) (c) (d) (e) | 1,177 | 262,565 | ||||||
| Computers — 6.3% | ||||||||
| Accenture PLC Class A | 50,783 | 15,670,618 | ||||||
| Apple, Inc. | 679,415 | 131,786,128 | ||||||
| Cognizant Technology Solutions Corp. Class A | 1,657 | 108,169 | ||||||
| Fortinet, Inc. (a) | 6,138 | 463,971 | ||||||
| Pure Storage, Inc. Class A (a) | 12,340 | 454,359 | ||||||
| Western Digital Corp. (a) | 5,067 | 192,191 | ||||||
| 148,675,436 | ||||||||
| Semiconductors — 8.9% | ||||||||
| Advanced Micro Devices, Inc. (a) | 125,512 | 14,297,072 | ||||||
| Analog Devices, Inc. | 8,905 | 1,734,783 | ||||||
| Applied Materials, Inc. | 92,930 | 13,432,102 | ||||||
| ASML Holding NV | 18,556 | 13,448,461 | ||||||
| Broadcom, Inc. | 22,423 | 19,450,383 | ||||||
| Entegris, Inc. | 2,530 | 280,375 | ||||||
| Intel Corp. | 13,800 | 461,472 | ||||||
| KLA Corp. | 13,643 | 6,617,128 | ||||||
| Lam Research Corp. | 30,286 | 19,469,658 | ||||||
| Lattice Semiconductor Corp. (a) | 1,973 | 189,546 | ||||||
| Marvell Technology, Inc. | 83,452 | 4,988,760 | ||||||
| Micron Technology, Inc. | 198,424 | 12,522,539 | ||||||
| Monolithic Power Systems, Inc. | 621 | 335,483 | ||||||
| NVIDIA Corp. | 170,536 | 72,140,139 | ||||||
| NXP Semiconductor NV | 21,711 | 4,443,807 | ||||||
| ON Semiconductor Corp. (a) | 4,385 | 414,733 | ||||||
| QUALCOMM, Inc. | 32,741 | 3,897,489 | ||||||
| Skyworks Solutions, Inc. | 24,880 | 2,753,967 | ||||||
| Texas Instruments, Inc. | 93,007 | 16,743,120 | ||||||
| 207,621,017 | ||||||||
| Software — 12.8% | ||||||||
| Activision Blizzard, Inc. (a) | 4,208 | 354,734 | ||||||
| Adobe, Inc. (a) | 7,491 | 3,663,024 | ||||||
| Atlassian Corp. Class A Class A (a) | 12,178 | 2,043,590 | ||||||
| Autodesk, Inc. (a) | 10,795 | 2,208,765 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Broadridge Financial Solutions, Inc. | 19,008 | $ | 3,148,295 | |||||
| Cadence Design Systems, Inc. (a) | 11,678 | 2,738,725 | ||||||
| Canva, Inc. (Acquired 12/17/21-12/22/21, Cost $872,531) (a) (c) (d) (e) | 512 | 363,300 | ||||||
| Ceridian HCM Holding, Inc. (a) | 46,952 | 3,144,376 | ||||||
| DocuSign, Inc. (a) | 7,627 | 389,663 | ||||||
| Dynatrace, Inc. (a) | 88,803 | 4,570,690 | ||||||
| Epic Games, Inc. (Acquired 6/18/20-3/29/21, Cost $2,322,065) (a) (c) (d) (e) | 3,487 | 2,408,297 | ||||||
| Fair Isaac Corp. (a) | 104 | 84,158 | ||||||
| Fidelity National Information Services, Inc. | 61,444 | 3,360,987 | ||||||
| Fiserv, Inc. (a) | 263,639 | 33,258,060 | ||||||
| Intuit, Inc. | 42,905 | 19,658,642 | ||||||
| Microsoft Corp. | 516,497 | 175,887,888 | ||||||
| MongoDB, Inc. (a) | 6,047 | 2,485,257 | ||||||
| MSCI, Inc. | 400 | 187,716 | ||||||
| Roper Technologies, Inc. | 22,113 | 10,631,930 | ||||||
| Salesforce, Inc. (a) | 60,167 | 12,710,880 | ||||||
| ServiceNow, Inc. (a) | 24,462 | 13,746,910 | ||||||
| Stripe, Inc., Class B (Acquired 12/17/19, Cost $295,694) (a) (c) (d) (e) | 18,846 | 379,370 | ||||||
| Synopsys, Inc. (a) | 1,638 | 713,202 | ||||||
| The Descartes Systems Group, Inc. (a) | 1,883 | 150,847 | ||||||
| Zoom Video Communications, Inc. Class A (a) | 770 | 52,268 | ||||||
| 298,341,574 | ||||||||
| 654,900,592 | ||||||||
| Utilities — 2.0% | ||||||||
| Electric — 2.0% | ||||||||
| Ameren Corp. | 26,814 | 2,189,899 | ||||||
| CMS Energy Corp. | 5,411 | 317,896 | ||||||
| Constellation Energy Corp. | 114,872 | 10,516,532 | ||||||
| Dominion Energy, Inc. | 15,669 | 811,498 | ||||||
| DTE Energy Co. | 13,784 | 1,516,516 | ||||||
| Entergy Corp. | 19,953 | 1,942,824 | ||||||
| Evergy, Inc. | 55,184 | 3,223,849 | ||||||
| FirstEnergy Corp. | 63,764 | 2,479,144 | ||||||
| NextEra Energy, Inc. | 112,367 | 8,337,631 | ||||||
| PG&E Corp. (a) | 44,569 | 770,152 | ||||||
| Sempra Energy | 1,510 | 219,841 | ||||||
| Southern Co. | 194,566 | 13,668,260 | ||||||
| WEC Energy Group, Inc. | 453 | 39,973 | ||||||
| Xcel Energy, Inc. | 987 | 61,362 | ||||||
| 46,095,377 | ||||||||
| TOTAL COMMON STOCK (Cost $2,035,201,720) | 2,306,326,313 | |||||||
| PREFERRED STOCK — 0.7% | ||||||||
| Consumer, Cyclical — 0.3% | ||||||||
| Auto Manufacturers — 0.3% | ||||||||
| Dr Ing hc F Porsche AG 0.888% | ||||||||
| (f) | 39,721 | 4,929,981 | ||||||
| Nuro, Inc., Series C, (Acquired 10/30/20-3/02/21, Cost $1,236,023) | ||||||||
| (a) (c) (d) (e) | 94,681 | 587,022 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Nuro, Inc., Series D, (Acquired 10/29/21, Cost $487,977) | ||||||||
| (a) (c) (d) (e) | 23,409 | $ | 145,136 | |||||
| Waymo LLC., Series A-2, (Acquired 5/08/20, Cost $748,934) | ||||||||
| (a) (c) (d) (e) | 8,722 | 332,657 | ||||||
| 5,994,796 | ||||||||
| Consumer, Non-cyclical — 0.1% | ||||||||
| Commercial Services — 0.1% | ||||||||
| Redwood Materials, Inc., Series C, (Acquired 5/28/21, Cost $1,059,705) | ||||||||
| (a) (c) (d) (e) | 22,355 | 1,067,135 | ||||||
| Redwood Materials, Inc., Series D, (Acquired 6/17/22, Cost $50,373) | ||||||||
| (a) (c) (d) (e) | 1,241 | 59,240 | ||||||
| 1,126,375 | ||||||||
| Financial — 0.0% | ||||||||
| Investment Companies — 0.0% | ||||||||
| Maplebear, Inc., Series A, (Acquired 11/18/20, Cost $53,081) | ||||||||
| (a) (c) (d) (e) | 870 | 28,275 | ||||||
| Maplebear, Inc., Series G, (Acquired 7/02/20, Cost $599,129) | ||||||||
| (a) (c) (d) (e) | 12,458 | 404,885 | ||||||
| Maplebear, Inc., Series I, (Acquired 2/26/21, Cost $240,750) | ||||||||
| (a) (c) (d) (e) | 1,926 | 62,595 | ||||||
| 495,755 | ||||||||
| Industrial — 0.2% | ||||||||
| Electrical Components & Equipment — 0.0% | ||||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $760,988) (a) (c) (d) (e) | 18,438 | 373,923 | ||||||
| Electronics — 0.2% | ||||||||
| GM Cruise Holdings, LLC, Class F (Acquired 5/07/19, Cost $921,625) (a) (c) (d) (e) | 50,500 | 857,490 | ||||||
| GM Cruise Holdings, LLC, Class G (Acquired 1/21/21, Cost $979,851) (a) (c) (d) (e) | 37,186 | 631,418 | ||||||
| Sartorius AG 0.4538% | 10,785 | 3,698,444 | ||||||
| 5,187,352 | ||||||||
| 5,561,275 | ||||||||
| Technology — 0.1% | ||||||||
| Software — 0.1% | ||||||||
| Canva, Inc., Series A (Acquired 12/17/21, Cost $49,421) (a) (c) (d) (e) | 29 | 20,578 | ||||||
| Canva, Inc., Series A-3 (Acquired 12/17/21, Cost $13,633) (a) (c) (d) (e) | 8 | 5,677 | ||||||
| Celonis SE, Series D (Acquired 6/17/21-10/04/22, Cost $1,306,468) (a) (c) (d) (e) | 3,533 | 788,142 | ||||||
| Formagrid, Inc., Series F (Acquired 12/08/21, Cost $1,130,824) (a) (c) (d) (e) | 6,038 | 396,153 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Rappi, Inc., Series E (Acquired 9/08/20-9/24/20, Cost $1,092,516) (a) (c) (d) (e) | 18,286 | $ | 658,479 | |||||
| 1,869,029 | ||||||||
| TOTAL PREFERRED STOCK (Cost $18,020,026) | 15,047,230 | |||||||
| TOTAL EQUITIES (Cost $2,053,221,746) | 2,321,373,543 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $2,053,221,746) | 2,321,373,543 | |||||||
| SHORT-TERM INVESTMENTS — 0.6% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 125,153 | 125,153 | ||||||
| Mutual Fund — 0.5% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 12,259,269 | 12,259,269 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.1% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (h) | $ | 997,710 | 997,710 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $13,382,132) | 13,382,132 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $2,066,603,878) (i) | 2,334,755,675 | |||||||
| Other Assets/(Liabilities) — 0.0% | 1,098,296 | |||||||
| NET ASSETS — 100.0% | $ | 2,335,853,971 | ||||||
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 June 30, 2023, was $4,591,681 or 0.20% of net assets. The Fund received $4,602,268 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) | Investment is valued using significant unobservable inputs. |
| (d) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $10,582,104 or 0.45% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (e) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $10,582,104 or 0.45% 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 June 30, 2023, the aggregate market value of these securities amounted to $4,929,981 or 0.21% of net assets. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $997,837. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,017,683. |
| (i) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 94.6% | ||||||||
| CORPORATE DEBT — 0.2% | ||||||||
| Health Care – Services — 0.2% | ||||||||
| Health Care Service Corp. A Mutual Legal Reserve Co. | ||||||||
| 1.500% 6/01/25 (a) | $ | 545,000 | $ | 499,231 | ||||
| TOTAL CORPORATE DEBT (Cost $516,314) | 499,231 | |||||||
| MUNICIPAL OBLIGATIONS — 0.4% | ||||||||
| California State University, Revenue Bond | ||||||||
| 0.563% 11/01/24 | 125,000 | 117,222 | ||||||
| City & County of Denver Co. Airport System Revenue | ||||||||
| Revenue Bond, 0.877% 11/15/23 | 20,000 | 19,662 | ||||||
| Revenue Bond, 1.115% 11/15/24 | 30,000 | 28,287 | ||||||
| City of Atlanta GA Water & Wastewater Revenue | ||||||||
| Revenue Bond, 0.407% 11/01/23 | 15,000 | 14,747 | ||||||
| Revenue Bond, 0.616% 11/01/24 | 15,000 | 14,056 | ||||||
| Dallas Area Rapid Transit | ||||||||
| Revenue Bond, 0.541% 12/01/23 | 10,000 | 9,794 | ||||||
| Revenue Bond, 0.761% 12/01/24 | 10,000 | 9,368 | ||||||
| State of Illinois, General Obligation | ||||||||
| 2.840% 10/01/23 | 485,000 | 481,375 | ||||||
| Tobacco Settlement Finance Authority, Revenue Bond | ||||||||
| 1.497% 6/01/24 | 65,000 | 62,391 | ||||||
| 756,902 | ||||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $775,000) | 756,902 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.1% | ||||||||
| Other Asset-Backed Securities — 0.1% | ||||||||
| BRE Grand Islander Timeshare Issuer LLC, Series 2019-A, Class A | ||||||||
| 3.280% 9/26/33 (a) | 33,414 | 30,896 | ||||||
| Elara HGV Timeshare Issuer LLC, Series 2016-A, Class A | ||||||||
| 2.730% 4/25/28 (a) | 137,003 | 135,621 | ||||||
| Sierra Timeshare Receivables Funding LLC, Series 2019-3A, Class A | ||||||||
| 2.340% 8/20/36 (a) | 28,504 | 27,607 | ||||||
| 194,124 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 0.0% | ||||||||
| OBX Trust, Series 2020-EXP1, Class 2A1, 1 mo. USD LIBOR + .750% | ||||||||
| 5.900% FRN 2/25/60 (a) | 17,351 | 16,036 | ||||||
| Sequoia Mortgage Trust | ||||||||
| Series 2017-CH1, Class A2, 3.500% VRN 8/25/47 (a) (b) | 11,741 | 10,660 | ||||||
| Series 2017-CH1, Class A13, 4.000% VRN 8/25/47 (a) (b) | 31,921 | 29,644 | ||||||
| Series 2018-CH2, Class A3, 4.000% VRN 6/25/48 (a) (b) | 7,888 | 7,222 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2018-CH3, Class A2, 4.000% VRN 8/25/48 (a) (b) | $ | 2,684 | $ | 2,571 | ||||
| Series 2018-CH4, Class A2, 4.000% VRN 10/25/48 (a) (b) | 411 | 407 | ||||||
| 66,540 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $271,503) | 260,664 | |||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (C) — 0.2% | ||||||||
| Collateralized Mortgage Obligations — 0.0% | ||||||||
| Government National Mortgage Association Series 2019-65, Class B 3.500% 5/20/49 | 47,522 | 44,132 | ||||||
| Whole Loans — 0.2% | ||||||||
| Federal National Mortgage Association Connecticut Avenue Securities Trust | ||||||||
| Series 2018-C03, Class 1EB2, 1 mo. USD LIBOR + .850% 6.000% FRN 10/25/30 | 168,809 | 168,623 | ||||||
| Series 2018-C03, Class 1ED2, 1 mo. USD LIBOR + .850% 6.000% FRN 10/25/30 | 9,521 | 9,476 | ||||||
| Series 2017-C05, Class 1ED3, 1 mo. USD LIBOR + 1.200% 6.350% FRN 1/25/30 | 6,799 | 6,790 | ||||||
| Series 2017-C06, Class 1M2B, 1 mo. USD LIBOR + 2.650% 7.800% FRN 2/25/30 | 110,210 | 111,537 | ||||||
| 296,426 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $346,680) | 340,558 | |||||||
| U.S. TREASURY OBLIGATIONS — 93.7% | ||||||||
| U.S. Treasury Bonds & Notes — 93.7% | ||||||||
| U.S. Treasury Inflation Index | ||||||||
| 0.125% 10/15/24 | 13,914,021 | 13,420,644 | ||||||
| 0.125% 4/15/25 (d) | 16,253,755 | 15,461,702 | ||||||
| 0.125% 10/15/25 | 12,242,038 | 11,605,548 | ||||||
| 0.125% 4/15/26 | 8,043,829 | 7,542,111 | ||||||
| 0.125% 7/15/26 | 16,296,829 | 15,307,083 | ||||||
| 0.125% 10/15/26 | 14,007,741 | 13,094,228 | ||||||
| 0.125% 4/15/27 | 18,552,255 | 17,170,257 | ||||||
| 0.250% 1/15/25 | 13,525,207 | 12,965,311 | ||||||
| 0.375% 7/15/25 | 12,030,462 | 11,512,236 | ||||||
| 0.375% 1/15/27 | 11,504,174 | 10,793,364 | ||||||
| 0.375% 7/15/27 | 8,216,214 | 7,701,177 | ||||||
| 0.625% 1/15/26 | 9,171,597 | 8,744,813 | ||||||
| 1.250% 4/15/28 | 21,027,202 | 20,343,818 | ||||||
| 1.625% 10/15/27 | 20,117,477 | 19,819,840 | ||||||
| 185,482,132 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $194,140,269) | 185,482,132 | |||||||
| TOTAL BONDS & NOTES (Cost $196,049,766) | 187,339,487 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $196,049,766) | 187,339,487 | |||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 5.3% | ||||||||
| Mutual Fund — 4.8% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 9,541,025 | $ | 9,541,025 | |||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.5% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (e) | $ | 945,902 | 945,902 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $10,486,927) | 10,486,927 | |||||||
| TOTAL INVESTMENTS — 99.9% (Cost $206,536,693) (f) | 197,826,414 | |||||||
| Other Assets/(Liabilities) — 0.1% | 157,932 | |||||||
| NET ASSETS — 100.0% | $ | 197,984,346 | ||||||
Abbreviation Legend
| 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 June 30, 2023, the aggregate market value of these securities amounted to $759,895 or 0.38% 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 June 30, 2023. |
| (c) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (d) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (e) | Maturity value of $946,022. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $964,876. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Citibank N.A. | 7/21/23 | AUD | 1,190,000 | USD | 792,088 | $ | 988 | |||||||||
| Citibank N.A. | 7/21/23 | USD | 491,198 | AUD | 725,000 | 8,022 | ||||||||||
| Citibank N.A. | 8/25/23 | USD | 220,417 | GBP | 175,000 | (1,888) | ||||||||||
| Goldman Sachs International | 7/21/23 | USD | 517,924 | AUD | 775,000 | 1,425 | ||||||||||
| Goldman Sachs International | 8/25/23 | USD | 789,467 | GBP | 620,000 | 1,874 | ||||||||||
| HSBC Bank USA | 8/25/23 | USD | 694,186 | EUR | 635,000 | (468) | ||||||||||
| JP Morgan Chase Bank | 8/25/23 | EUR | 635,000 | USD | 700,079 | (5,425) | ||||||||||
| UBS AG | 8/25/23 | GBP | 645,000 | USD | 819,127 | 224 | ||||||||||
| $ | 4,752 | |||||||||||||||
| Centrally Cleared Credit Default Swaps - Sell Protection†† | ||||||||||||||||||||||||||||||||
| Reference Obligation/ Index | Rate Received by Fund | Payment Frequency | Termination Date | Credit Rating | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| CDX.NA.IG Series 40† | 1.000% | Quarterly | 6/20/28 | NR* | USD | 3,972,000 | $ | 59,425 | $ | 48,854 | $ | 10,571 | ||||||||||||||||||||
| Centrally Cleared Interest Rate Swaps | |||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | ||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
| Fixed 3.135% | Maturity | U.S. Consumer Price Index | Maturity | 8/03/23 | USD | 4,650,000 | $ | 303,972 | $ | — | $ | 303,972 | |||||||||||||||||||
| Fixed 2.960% | Maturity | U.S. Consumer Price Index | Maturity | 8/02/24 | USD | 1,376,000 | 86,307 | — | 86,307 | ||||||||||||||||||||||
| Fixed 2.953% | Maturity | U.S. Consumer Price Index | Maturity | 8/03/24 | USD | 3,133,000 | 196,331 | — | 196,331 | ||||||||||||||||||||||
| Fixed 3.113% | Maturity | U.S. Consumer Price Index | Maturity | 8/22/24 | USD | 1,370,000 | (6,477) | — | (6,477) | ||||||||||||||||||||||
| Fixed 3.129% | Maturity | U.S. Consumer Price Index | Maturity | 8/22/24 | USD | 1,370,000 | (6,916) | — | (6,916) | ||||||||||||||||||||||
| $ | 573,217 | $ | — | $ | 573,217 | ||||||||||||||||||||||||||
| * | Rating represents a weighted average of the ratings of all securities included in the underlying index for the credit default swap. Ratings used in the weighted average are from Moody's Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, whichever is the highest for each constituent. All ratings are as of the report date and do not reflect subsequent changes. |
| † | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
| †† | For each credit derivative with sold protection, the credit ratings of the entities referenced, as rated by any rating organization, are included in the equivalent S&P Global Ratings. The reference entity rating represents the likelihood of a potential payment by the Fund if the referenced entity experiences a credit event as of period end. Notional amounts represent the maximum potential amount of future payments (undiscounted) the Fund could be required to make under the credit derivatives with sold protection. |
Currency Legend
| AUD | Australian Dollar |
| EUR | Euro |
| GBP | British Pound |
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments |
| Number of Shares | Value | |||||||
| EQUITIES — 94.8% | ||||||||
| COMMON STOCK — 94.2% | ||||||||
| Australia — 9.9% | ||||||||
| Allkem Ltd. (a) | 28,510 | $ | 308,018 | |||||
| ALS Ltd. | 83,146 | 620,917 | ||||||
| Bellevue Gold Ltd. (a) (b) | 337,641 | 288,453 | ||||||
| BHP Group Ltd. | 265,132 | 7,910,751 | ||||||
| BlueScope Steel Ltd. | 26,517 | 365,828 | ||||||
| Capricorn Metals Ltd. (a) | 90,257 | 245,668 | ||||||
| Emerald Resources NL (a) (b) | 421,640 | 576,559 | ||||||
| Glencore PLC | 458,844 | 2,602,810 | ||||||
| Goodman Group | 84,367 | 1,130,146 | ||||||
| IGO Ltd. | 49,074 | 500,879 | ||||||
| Newcrest Mining Ltd. | 97,660 | 1,744,890 | ||||||
| Northern Star Resources Ltd. | 379,589 | 3,081,527 | ||||||
| Pilbara Minerals Ltd. (b) | 88,782 | 292,781 | ||||||
| Red 5 Ltd. (a) (b) | 2,006,132 | 256,532 | ||||||
| Rio Tinto Ltd. | 33,967 | 2,614,049 | ||||||
| Rio Tinto PLC | 32,464 | 2,062,422 | ||||||
| Scentre Group | 384,576 | 679,249 | ||||||
| South32 Ltd. | 276,200 | 696,579 | ||||||
| 25,978,058 | ||||||||
| Austria — 0.4% | ||||||||
| OMV AG | 14,895 | 631,128 | ||||||
| voestalpine AG | 15,011 | 539,425 | ||||||
| 1,170,553 | ||||||||
| Belgium — 0.5% | ||||||||
| Shurgard Self Storage Ltd. | 15,287 | 698,067 | ||||||
| Warehouses De Pauw CVA | 22,027 | 604,221 | ||||||
| 1,302,288 | ||||||||
| Bosnia and Herzegowina — 0.2% | ||||||||
| Adriatic Metals PLC (a) | 199,427 | 423,722 | ||||||
| Brazil — 1.1% | ||||||||
| ERO Copper Corp. (a) | 68,044 | 1,376,546 | ||||||
| Minerva SA | 205,811 | 456,909 | ||||||
| Suzano SA | 49,213 | 454,492 | ||||||
| Wheaton Precious Metals Corp. | 16,385 | 708,584 | ||||||
| 2,996,531 | ||||||||
| Burkina Faso — 0.5% | ||||||||
| Endeavour Mining PLC | 51,490 | 1,234,050 | ||||||
| Canada — 9.5% | ||||||||
| Agnico Eagle Mines Ltd. | 11,948 | 597,161 | ||||||
| Agnico Eagle Mines Ltd. | 45,766 | 2,285,277 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Barrick Gold Corp. | 70,277 | $ | 1,189,790 | |||||
| Calibre Mining Corp. (a) | 216,688 | 227,361 | ||||||
| Cameco Corp. | 40,600 | 1,271,998 | ||||||
| Canadian Apartment Properties REIT | 18,121 | 695,704 | ||||||
| Canadian National Railway Co. | 6,270 | 759,263 | ||||||
| Canadian Natural Resources Ltd. | 17,990 | 1,011,432 | ||||||
| Canadian Pacific Kansas City Ltd. (b) | 9,333 | 753,826 | ||||||
| Filo Corp. (a) | 12,121 | 236,152 | ||||||
| Franco-Nevada Corp. | 27,820 | 3,965,046 | ||||||
| Granite Real Estate Investment Trust | 9,901 | 585,801 | ||||||
| Ivanhoe Mines Ltd. Class A (a) (b) | 128,253 | 1,171,437 | ||||||
| K92 Mining, Inc. (a) | 80,622 | 349,935 | ||||||
| Karora Resources, Inc. (a) | 182,564 | 558,131 | ||||||
| Kinross Gold Corp. | 36,660 | 174,868 | ||||||
| MAG Silver Corp. (a) | 39,200 | 436,688 | ||||||
| Nutrien Ltd. | 17,177 | 1,014,302 | ||||||
| Orla Mining Ltd. (a) | 85,968 | 360,809 | ||||||
| Osisko Mining, Inc. (a) | 205,442 | 499,357 | ||||||
| Skeena Resources Ltd. (a) | 29,354 | 141,591 | ||||||
| StorageVault Canada, Inc. (b) | 85,518 | 377,641 | ||||||
| Suncor Energy, Inc. (b) | 46,136 | 1,353,346 | ||||||
| Teck Resources Ltd. Class B | 42,562 | 1,791,860 | ||||||
| Toromont Industries Ltd. | 11,533 | 947,452 | ||||||
| Tourmaline Oil Corp. (b) | 7,421 | 349,665 | ||||||
| Wesdome Gold Mines Ltd. (a) | 210,711 | 1,097,495 | ||||||
| West Fraser Timber Co. Ltd. | 2,397 | 205,928 | ||||||
| Whitecap Resources, Inc. (b) | 72,230 | 505,433 | ||||||
| 24,914,749 | ||||||||
| Chile — 0.1% | ||||||||
| Antofagasta PLC | 8,494 | 158,293 | ||||||
| China — 0.1% | ||||||||
| H World Group Ltd. (a) | 87,500 | 338,526 | ||||||
| Egypt — 0.1% | ||||||||
| Centamin PLC | 256,969 | 298,851 | ||||||
| Faeroe Islands — 0.2% | ||||||||
| Bakkafrost PF | 7,594 | 454,344 | ||||||
| Finland — 0.5% | ||||||||
| Kojamo OYJ | 24,026 | 225,957 | ||||||
| Metso Oyj | 85,813 | 1,033,773 | ||||||
| 1,259,730 | ||||||||
| France — 1.3% | ||||||||
| Gecina SA | 7,340 | 781,935 | ||||||
| TotalEnergies SE | 46,590 | 2,670,188 | ||||||
| 3,452,123 | ||||||||
| Germany — 0.2% | ||||||||
| Covestro AG (a) (c) | 11,583 | 601,452 | ||||||
| Ghana — 0.2% | ||||||||
| Kosmos Energy Ltd. (a) | 110,875 | 664,141 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hong Kong — 1.0% | ||||||||
| Hongkong Land Holdings Ltd. | 56,000 | $ | 218,785 | |||||
| Kerry Properties Ltd. | 165,000 | 342,151 | ||||||
| Sun Hung Kai Properties Ltd. | 96,000 | 1,210,834 | ||||||
| Wharf Real Estate Investment Co. Ltd. | 152,000 | 760,767 | ||||||
| 2,532,537 | ||||||||
| India — 0.1% | ||||||||
| Nexus Select Trust (a) | 176,649 | 230,296 | ||||||
| Japan — 2.5% | ||||||||
| Hoshino Resorts REIT, Inc. | 90 | 386,364 | ||||||
| Industrial & Infrastructure Fund Investment Corp. | 400 | 421,590 | ||||||
| Invincible Investment Corp. | 1,451 | 576,974 | ||||||
| Katitas Co. Ltd. | 31,900 | 549,099 | ||||||
| Kyoritsu Maintenance Co. Ltd. | 5,300 | 201,685 | ||||||
| Mitsui Fudosan Co. Ltd. | 73,500 | 1,466,476 | ||||||
| Mitsui Fudosan Logistics Park, Inc. | 193 | 670,339 | ||||||
| Nippon Steel Corp. | 64,900 | 1,362,349 | ||||||
| Sumitomo Metal Mining Co. Ltd. | 13,300 | 428,671 | ||||||
| Tokyo Tatemono Co. Ltd. | 25,800 | 332,896 | ||||||
| Tokyu REIT, Inc. | 210 | 280,156 | ||||||
| 6,676,599 | ||||||||
| Kazakhstan — 0.3% | ||||||||
| NAC Kazatomprom JSC GDR | 31,180 | 837,289 | ||||||
| Luxembourg — 0.4% | ||||||||
| ArcelorMittal SA | 39,624 | 1,079,536 | ||||||
| Mexico — 0.7% | ||||||||
| Grupo Mexico SAB de CV Series B | 105,451 | 507,018 | ||||||
| Southern Copper Corp. | 17,683 | 1,268,578 | ||||||
| 1,775,596 | ||||||||
| Netherlands — 1.1% | ||||||||
| Akzo Nobel NV | 6,686 | 546,317 | ||||||
| Shell PLC | 78,896 | 2,349,017 | ||||||
| 2,895,334 | ||||||||
| Norway — 1.1% | ||||||||
| Equinor ASA | 48,960 | 1,422,274 | ||||||
| Norsk Hydro ASA | 256,769 | 1,526,178 | ||||||
| 2,948,452 | ||||||||
| Portugal — 0.2% | ||||||||
| Galp Energia SGPS SA | 40,043 | 468,198 | ||||||
| Republic of Korea — 0.4% | ||||||||
| Korea Zinc Co. Ltd. | 544 | 202,149 | ||||||
| POSCO Holdings, Inc. | 2,872 | 852,279 | ||||||
| 1,054,428 | ||||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Russia — 0.0% | ||||||||
| Alrosa PJSC (a) (d) (e) | 688,100 | $ | — | |||||
| MMC Norlisk Nickel PJSC (d) (e) | 2,654 | — | ||||||
| Polyus PJSC (a) (d) (e) | 2,282 | — | ||||||
| — | ||||||||
| Singapore — 0.4% | ||||||||
| CapitaLand Integrated Commercial Trust | 662,400 | 936,887 | ||||||
| South Africa — 1.8% | ||||||||
| Anglo American Platinum Ltd. | 10,397 | 470,122 | ||||||
| Anglo American PLC | 120,007 | 3,401,526 | ||||||
| Impala Platinum Holdings Ltd. | 41,164 | 275,355 | ||||||
| Northam Platinum Holdings Ltd. (a) | 70,790 | 472,647 | ||||||
| Sibanye Stillwater Ltd. | 119,545 | 184,626 | ||||||
| 4,804,276 | ||||||||
| Spain — 0.3% | ||||||||
| Cellnex Telecom SA (c) | 15,424 | 625,291 | ||||||
| Iberdrola SA | 18,437 | 240,822 | ||||||
| 866,113 | ||||||||
| Sweden — 1.2% | ||||||||
| Boliden AB | 9,887 | 286,184 | ||||||
| Epiroc AB Class A | 28,986 | 549,044 | ||||||
| Epiroc AB Class B | 25,847 | 418,046 | ||||||
| Sandvik AB | 82,461 | 1,610,183 | ||||||
| Svenska Cellulosa AB SCA Class B | 28,105 | 358,520 | ||||||
| 3,221,977 | ||||||||
| United Kingdom — 2.6% | ||||||||
| Big Yellow Group PLC | 33,106 | 451,630 | ||||||
| BP PLC Sponsored ADR | 42,937 | 1,515,247 | ||||||
| Central Asia Metals PLC | 202,379 | 463,379 | ||||||
| Derwent London PLC | 13,914 | 362,171 | ||||||
| Great Portland Estates PLC | 77,821 | 411,251 | ||||||
| InterContinental Hotels Group PLC | 6,807 | 470,066 | ||||||
| Persimmon PLC | 25,380 | 330,876 | ||||||
| Segro PLC | 58,379 | 532,244 | ||||||
| TechnipFMC PLC (a) | 72,612 | 1,206,811 | ||||||
| UNITE Group PLC | 34,467 | 381,390 | ||||||
| Weir Group PLC | 28,920 | 645,617 | ||||||
| 6,770,682 | ||||||||
| United States — 54.1% | ||||||||
| Acadia Realty Trust | 93,811 | 1,349,940 | ||||||
| Air Products & Chemicals, Inc. | 2,136 | 639,796 | ||||||
| Alaska Air Group, Inc. (a) | 7,499 | 398,797 | ||||||
| Alexandria Real Estate Equities, Inc. | 14,274 | 1,619,956 | ||||||
| Allegiant Travel Co. (a) | 4,823 | 609,048 | ||||||
| Ameren Corp. | 5,716 | 466,826 | ||||||
| American Homes 4 Rent Class A | 67,207 | 2,382,488 | ||||||
| American Tower Corp. | 19,573 | 3,795,988 | ||||||
| Apartment Income REIT Corp. | 5,794 | 209,106 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Apple Hospitality REIT, Inc. | 73,256 | $ | 1,106,898 | |||||
| AvalonBay Communities, Inc. | 17,472 | 3,306,925 | ||||||
| Avery Dennison Corp. | 1,892 | 325,046 | ||||||
| Baker Hughes Co. | 27,141 | 857,927 | ||||||
| Ball Corp. | 9,738 | 566,849 | ||||||
| Cactus, Inc. Class A | 8,608 | 364,291 | ||||||
| Camden Property Trust | 13,669 | 1,488,144 | ||||||
| Carrier Global Corp. | 8,609 | 427,953 | ||||||
| CF Industries Holdings, Inc. | 9,003 | 624,988 | ||||||
| ChampionX Corp. | 19,100 | 592,864 | ||||||
| Chesapeake Energy Corp. | 12,234 | 1,023,741 | ||||||
| Chevron Corp. | 12,015 | 1,890,560 | ||||||
| CMS Energy Corp. | 6,313 | 370,889 | ||||||
| Comstock Resources, Inc. | 28,362 | 328,999 | ||||||
| ConocoPhillips | 23,110 | 2,394,427 | ||||||
| Crown Castle, Inc. | 11,600 | 1,321,704 | ||||||
| CSX Corp. | 22,121 | 754,326 | ||||||
| CubeSmart | 49,491 | 2,210,268 | ||||||
| Cummins, Inc. | 1,681 | 412,114 | ||||||
| Darling Ingredients, Inc. (a) | 16,181 | 1,032,186 | ||||||
| Delta Air Lines, Inc. (a) | 19,479 | 926,032 | ||||||
| Dominion Energy, Inc. | 7,048 | 365,016 | ||||||
| Douglas Emmett, Inc. (b) | 49,830 | 626,363 | ||||||
| EastGroup Properties, Inc. | 9,582 | 1,663,435 | ||||||
| EOG Resources, Inc. | 15,672 | 1,793,504 | ||||||
| EQT Corp. | 33,918 | 1,395,047 | ||||||
| Equinix, Inc. | 8,379 | 6,568,633 | ||||||
| Equitrans Midstream Corp. | 8,658 | 82,771 | ||||||
| Equity LifeStyle Properties, Inc. | 61,345 | 4,103,367 | ||||||
| Equity Residential | 47,527 | 3,135,356 | ||||||
| Essex Property Trust, Inc. | 10,374 | 2,430,628 | ||||||
| Extra Space Storage, Inc. | 3,401 | 506,239 | ||||||
| Exxon Mobil Corp. | 24,486 | 2,626,124 | ||||||
| Federal Realty Investment Trust | 1,739 | 168,283 | ||||||
| FirstEnergy Corp. | 9,437 | 366,911 | ||||||
| FMC Corp. | 6,240 | 651,082 | ||||||
| Freeport-McMoRan, Inc. | 33,410 | 1,336,400 | ||||||
| Frontier Group Holdings, Inc. (a) | 61,005 | 589,918 | ||||||
| Gaming & Leisure Properties, Inc. | 22,326 | 1,081,918 | ||||||
| Halliburton Co. | 11,972 | 394,956 | ||||||
| Healthcare Realty Trust, Inc. | 51,587 | 972,931 | ||||||
| Hess Corp. | 16,138 | 2,193,961 | ||||||
| Hilton Worldwide Holdings, Inc. | 4,045 | 588,750 | ||||||
| Host Hotels & Resorts, Inc. | 30,205 | 508,350 | ||||||
| Hubbell, Inc. | 2,465 | 817,295 | ||||||
| Ivanhoe Electric, Inc. (a) | 34,947 | 455,709 | ||||||
| JetBlue Airways Corp. (a) | 33,313 | 295,153 | ||||||
| Kilroy Realty Corp. | 18,916 | 569,182 | ||||||
| Kimco Realty Corp. | 25,517 | 503,195 | ||||||
| Life Storage, Inc. | 8,509 | 1,131,357 | ||||||
| Linde PLC | 3,785 | 1,442,388 | ||||||
| Magnolia Oil & Gas Corp. Class A | 24,576 | 513,638 | ||||||
| Marathon Petroleum Corp. | 7,647 | 891,640 | ||||||
| Marriott International, Inc. Class A | 1,289 | 236,776 | ||||||
| Martin Marietta Materials, Inc. | 771 | 355,963 | ||||||
| Newmont Corp. | 97,699 | 4,167,839 | ||||||
| NextEra Energy, Inc. | 10,193 | 756,321 | ||||||
| Noble Corp. PLC (a) | 8,391 | 346,632 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Norfolk Southern Corp. | 5,079 | $ | 1,151,714 | |||||
| Nucor Corp. | 19,244 | 3,155,631 | ||||||
| Packaging Corp. of America | 4,357 | 575,821 | ||||||
| Pebblebrook Hotel Trust (b) | 21,194 | 295,444 | ||||||
| PG&E Corp. (a) | 27,779 | 480,021 | ||||||
| Pioneer Natural Resources Co. | 6,019 | 1,247,016 | ||||||
| PotlatchDeltic Corp. | 8,281 | 437,651 | ||||||
| Prologis, Inc. | 65,449 | 8,026,011 | ||||||
| Public Storage | 15,863 | 4,630,093 | ||||||
| Quanta Services, Inc. | 2,825 | 554,971 | ||||||
| Range Resources Corp. | 37,304 | 1,096,738 | ||||||
| Rayonier, Inc. | 35,570 | 1,116,898 | ||||||
| Regency Centers Corp. | 50,852 | 3,141,128 | ||||||
| Reliance Steel & Aluminum Co. | 10,061 | 2,732,467 | ||||||
| Rexford Industrial Realty, Inc. | 45,076 | 2,353,869 | ||||||
| Royal Gold, Inc. | 1,925 | 220,952 | ||||||
| RPM International, Inc. | 6,329 | 567,901 | ||||||
| SBA Communications Corp. | 11,101 | 2,572,768 | ||||||
| Schlumberger NV | 28,520 | 1,400,902 | ||||||
| Schneider Electric SE | 3,145 | 573,230 | ||||||
| Sherwin-Williams Co. | 2,386 | 633,531 | ||||||
| Shoals Technologies Group, Inc. Class A (a) | 18,007 | 460,259 | ||||||
| Simon Property Group, Inc. | 32,021 | 3,697,785 | ||||||
| SL Green Realty Corp. (b) | 5,632 | 169,242 | ||||||
| SolarEdge Technologies, Inc. (a) | 2,492 | 670,473 | ||||||
| Southern Co. | 12,225 | 858,806 | ||||||
| Southwest Airlines Co. | 17,240 | 624,260 | ||||||
| Southwestern Energy Co. (a) | 119,996 | 721,176 | ||||||
| Steel Dynamics, Inc. | 23,051 | 2,510,945 | ||||||
| Sun Communities, Inc. | 6,421 | 837,684 | ||||||
| Sun Country Airlines Holdings, Inc. (a) | 36,393 | 818,115 | ||||||
| Terreno Realty Corp. | 36,235 | 2,177,724 | ||||||
| Union Pacific Corp. | 5,038 | 1,030,876 | ||||||
| United Airlines Holdings, Inc. (a) | 15,440 | 847,193 | ||||||
| Valero Energy Corp. | 7,685 | 901,451 | ||||||
| Ventas, Inc. | 41,229 | 1,948,895 | ||||||
| Vulcan Materials Co. | 5,419 | 1,221,659 | ||||||
| Warrior Met Coal, Inc. | 4,977 | 193,854 | ||||||
| Welltower, Inc. | 46,369 | 3,750,788 | ||||||
| WestRock Co. | 10,389 | 302,008 | ||||||
| Weyerhaeuser Co. | 36,846 | 1,234,709 | ||||||
| Williams Cos., Inc. | 3,389 | 110,583 | ||||||
| 142,485,349 | ||||||||
| Vietnam — 0.5% | ||||||||
| Hoa Phat Group JSC | 1,158,800 | 1,284,826 | ||||||
| Zambia — 0.7% | ||||||||
| First Quantum Minerals Ltd. | 80,723 | 1,909,688 | ||||||
| TOTAL COMMON STOCK (Cost $258,069,494) | 248,025,474 | |||||||
| PREFERRED STOCK — 0.6% | ||||||||
| United States — 0.6% | ||||||||
| Jetti Holdings, Inc., Series C, (Acquired 5/24/21-6/30/21, Cost $130,426) | ||||||||
| (a) (d) (e) (f) | 2,253 | 299,406 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| KoBold Metals, Inc., Series B-1, (Acquired 1/10/22, Cost $670,800) | ||||||||
| (a) (d) (e) (f) | 24,472 | $ | 1,046,944 | |||||
| Lilac Solutions, Inc., Series B, (Acquired 9/08/21, Cost $329,342) | ||||||||
| (a) (d) (e) (f) | 25,087 | 342,438 | ||||||
| 1,688,788 | ||||||||
| TOTAL PREFERRED STOCK (Cost $1,130,568) | 1,688,788 | |||||||
| TOTAL EQUITIES (Cost $259,200,062) | 249,714,262 | |||||||
| MUTUAL FUNDS — 0.6% | ||||||||
| United States — 0.6% | ||||||||
| SPDR S&P Oil & Gas Exploration & Production ETF (b) | 6,166 | 794,366 | ||||||
| VanEck Oil Services ETF (b) | 2,574 | 740,282 | ||||||
| 1,534,648 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,339,781) | 1,534,648 | |||||||
| TOTAL PURCHASED OPTIONS(#) — 0.1% (Cost $106,318) | 274,258 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $260,646,161) | 251,523,168 | |||||||
| SHORT-TERM INVESTMENTS — 4.6% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 2,919,396 | 2,919,396 | ||||||
| Mutual Fund — 2.5% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 6,538,488 | 6,538,488 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.4% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (h) | $ | 1,028,172 | 1,028,172 | |||||
| U.S. Treasury Bill — 0.6% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.317% 11/09/23 (i) (j) | 1,612,000 | 1,582,040 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $12,068,022) | 12,068,096 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $272,714,183) (k) | 263,591,264 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (150,810) | |||||||
| NET ASSETS — 100.0% | $ | 263,440,454 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
| ETF | Exchange-Traded Fund |
| GDR | Global Depositary Receipt |
| REIT | Real Estate Investment Trust |
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 June 30, 2023, was $7,696,539 or 2.92% of net assets. The Fund received $5,088,375 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 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 June 30, 2023, the aggregate market value of these securities amounted to $1,226,743 or 0.47% of net assets. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $1,688,788 or 0.64% of net assets. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $1,688,788 or 0.64% 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 $1,028,302. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,048,834. |
| (i) | The rate shown represents yield-to-maturity. |
| (j) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (k) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||||||
| S&P 500 Index | Morgan Stanley & Co. LLC | 8/18/23 | 15,100.00 | 3 | USD | 4,530,000 | $ | 145,258 | $ | 63,618 | $ | 81,640 | ||||||||||||||||||||
| S&P 500 Index | Morgan Stanley & Co. LLC | 8/18/23 | 15,750.00 | 7 | USD | 11,025,000 | 129,000 | 42,700 | 86,300 | |||||||||||||||||||||||
| $ | 274,258 | $ | 106,318 | $ | 167,940 | |||||||||||||||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 7/14/23 | CAD | 1,912,000 | USD | 1,432,346 | $ | 11,135 | |||||||||
| Bank of America N.A. | 7/14/23 | PLN | 4,122,000 | USD | 996,657 | 16,673 | ||||||||||
| BNP Paribas SA | 7/14/23 | JPY | 318,197,799 | USD | 2,290,371 | (82,231) | ||||||||||
| Citibank N.A. | 7/14/23 | IDR | 14,253,589,000 | USD | 956,039 | (5,411) | ||||||||||
| Citibank N.A. | 7/14/23 | AUD | 904,307 | USD | 607,992 | (5,438) | ||||||||||
| Deutsche Bank AG | 7/14/23 | NOK | 11,199,430 | USD | 1,042,272 | 1,444 | ||||||||||
| Deutsche Bank AG | 7/14/23 | INR | 117,945,921 | USD | 1,426,785 | 10,496 | ||||||||||
| Goldman Sachs International | 7/05/23 | BRL | 14,152,932 | USD | 2,805,422 | 150,372 | ||||||||||
| Goldman Sachs International | 7/05/23 | USD | 2,936,780 | BRL | 14,152,932 | (19,013) | ||||||||||
| UBS AG | 7/14/23 | CHF | 904,809 | USD | 1,005,377 | 6,429 | ||||||||||
| Wells Fargo Bank N.A. | 7/05/23 | BRL | 14,152,932 | USD | 2,936,780 | 19,013 | ||||||||||
| Wells Fargo Bank N.A. | 7/05/23 | USD | 2,947,115 | BRL | 14,152,932 | (8,678) | ||||||||||
| Wells Fargo Bank N.A. | 7/14/23 | GBP | 1,358,000 | USD | 1,709,749 | 15,005 | ||||||||||
| Wells Fargo Bank N.A. | 8/02/23 | BRL | 8,535,483 | USD | 1,768,206 | 5,635 | ||||||||||
| $ | 115,431 | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Topix Index | 9/07/23 | 7 | $ | 1,070,430 | $ | 39,519 | ||||||||
| Nasdaq 100 E Mini Index | 9/15/23 | 6 | 1,770,154 | 70,286 | ||||||||||
| Xae Energy | 9/15/23 | 13 | 1,109,524 | 4,706 | ||||||||||
| Xap Consumer Staples | 9/15/23 | 23 | 1,702,287 | 30,763 | ||||||||||
| S&P ASX 200 Index | 9/21/23 | 12 | 1,424,511 | 6,579 | ||||||||||
| $ | 151,853 | |||||||||||||
| Short | ||||||||||||||
| Euro Stoxx 50 Index | 9/15/23 | 52 | $ | (2,464,876) | $ | (47,111) | ||||||||
| U.S. Treasury Note 10 Year | 9/20/23 | 27 | (3,083,024) | 51,852 | ||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 9 | (1,211,751) | (14,218) | ||||||||||
| $ | (9,477) | |||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 5.610% | Annually | 3/10/24 | USD | 3,625,000 | $ | 2,897 | $ | — | $ | 2,897 | ||||||||||||||||||||
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| EUR | Euro |
| GBP | British Pound |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| PLN | Polish Zloty |
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 96.3% | ||||||||
| COMMON STOCK — 94.8% | ||||||||
| Basic Materials — 1.9% | ||||||||
| Chemicals — 0.8% | ||||||||
| Element Solutions, Inc. | 110,024 | $ | 2,112,461 | |||||
| Hawkins, Inc. | 6,580 | 313,800 | ||||||
| HB Fuller Co. | 4,922 | 351,972 | ||||||
| Orion Engineered Carbons SA | 21,401 | 454,129 | ||||||
| Quaker Chemical Corp. | 7,265 | 1,415,949 | ||||||
| RPM International, Inc. | 14,100 | 1,265,193 | ||||||
| 5,913,504 | ||||||||
| Iron & Steel — 0.3% | ||||||||
| Carpenter Technology Corp. | 6,886 | 386,511 | ||||||
| Haynes International, Inc. | 10,383 | 527,664 | ||||||
| Reliance Steel & Aluminum Co. | 3,662 | 994,563 | ||||||
| Steel Dynamics, Inc. | 939 | 102,285 | ||||||
| 2,011,023 | ||||||||
| Mining — 0.8% | ||||||||
| Cameco Corp. | 53,328 | 1,670,766 | ||||||
| Compass Minerals International, Inc. | 4,000 | 136,000 | ||||||
| Constellium SE (a) | 109,139 | 1,877,191 | ||||||
| ERO Copper Corp. (a) | 16,123 | 326,172 | ||||||
| Franco-Nevada Corp. | 11,184 | 1,594,000 | ||||||
| Freeport-McMoRan, Inc. | 22,251 | 890,040 | ||||||
| 6,494,169 | ||||||||
| 14,418,696 | ||||||||
| Communications — 3.3% | ||||||||
| Advertising — 0.6% | ||||||||
| Advantage Solutions, Inc. (a) | 71,050 | 166,257 | ||||||
| Boston Omaha Corp. Class A (a) | 7,796 | 146,721 | ||||||
| Trade Desk, Inc. Class A (a) | 52,100 | 4,023,162 | ||||||
| 4,336,140 | ||||||||
| Internet — 0.6% | ||||||||
| Deliveroo PLC (a) (b) | 159,333 | 231,764 | ||||||
| Farfetch Ltd. Class A (a) (c) | 64,280 | 388,251 | ||||||
| Figs, Inc. Class A (a) | 51,669 | 427,303 | ||||||
| Match Group, Inc. (a) | 9,000 | 376,650 | ||||||
| Open Lending Corp. Class A (a) | 106,887 | 1,123,382 | ||||||
| Opendoor Technologies, Inc. (a) (c) | 76,013 | 305,572 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Rover Group, Inc., Earnout Shares 16.00 (Acquired 8/02/21, Cost $0) (a) (d) (e) (f) | 15,883 | $ | 532 | |||||
| Spotify Technology SA (a) | 11,200 | 1,798,160 | ||||||
| 4,651,614 | ||||||||
| Media — 1.3% | ||||||||
| DISH Network Corp. Class A (a) | 43,189 | 284,615 | ||||||
| Liberty Media Corp-Liberty Formula One Class C (a) | 26,400 | 1,987,392 | ||||||
| News Corp. Class A | 222,225 | 4,333,387 | ||||||
| News Corp. Class B | 19,141 | 377,461 | ||||||
| Nexstar Media Group, Inc. Class A | 680 | 113,254 | ||||||
| Paramount Global Class B | 54,863 | 872,870 | ||||||
| Saga Communications, Inc. Class A | 1,641 | 35,052 | ||||||
| Scholastic Corp. | 36,535 | 1,420,846 | ||||||
| The New York Times Co. Class A | 14,715 | 579,477 | ||||||
| 10,004,354 | ||||||||
| Telecommunications — 0.8% | ||||||||
| Arista Networks, Inc. (a) | 6,702 | 1,086,126 | ||||||
| Corning, Inc. | 103,752 | 3,635,470 | ||||||
| Credo Technology Group Holding Ltd. (a) | 22,186 | 384,705 | ||||||
| DigitalBridge Group, Inc. (c) | 34,670 | 509,996 | ||||||
| ESC GCI Liberty Inc (a) (d) (f) | 29,375 | — | ||||||
| Frontier Communications Parent, Inc. (a) | 8,027 | 149,624 | ||||||
| Infinera Corp. (a) (c) | 21,088 | 101,855 | ||||||
| Viavi Solutions, Inc. (a) | 32,770 | 371,284 | ||||||
| 6,239,060 | ||||||||
| 25,231,168 | ||||||||
| Consumer, Cyclical — 11.3% | ||||||||
| Airlines — 0.9% | ||||||||
| Allegiant Travel Co. (a) | 10,277 | 1,297,780 | ||||||
| Southwest Airlines Co. | 150,064 | 5,433,817 | ||||||
| Sun Country Airlines Holdings, Inc. (a) | 13,319 | 299,411 | ||||||
| 7,031,008 | ||||||||
| Apparel — 0.5% | ||||||||
| Canada Goose Holdings, Inc. (a) (c) | 5,794 | 103,133 | ||||||
| Ralph Lauren Corp. | 22,006 | 2,713,340 | ||||||
| Skechers USA, Inc. Class A (a) | 13,106 | 690,162 | ||||||
| Steven Madden Ltd. | 16,680 | 545,269 | ||||||
| 4,051,904 | ||||||||
| Auto Manufacturers — 0.7% | ||||||||
| Blue Bird Corp. (a) | 9,563 | 214,976 | ||||||
| General Motors Co. | 71,166 | 2,744,161 | ||||||
| PACCAR, Inc. | 17,380 | 1,453,837 | ||||||
| Rivian Automotive, Inc. Class A (a) (c) | 39,403 | 656,454 | ||||||
| 5,069,428 | ||||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| Dorman Products, Inc. (a) | 7,158 | 564,265 | ||||||
| Mobileye Global, Inc. Class A (a) | 3,216 | 123,559 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| The Shyft Group, Inc. | 9,604 | $ | 211,864 | |||||
| Visteon Corp. (a) | 2,148 | 308,474 | ||||||
| 1,208,162 | ||||||||
| Distribution & Wholesale — 0.7% | ||||||||
| Pool Corp. | 328 | 122,882 | ||||||
| Rush Enterprises, Inc. Class A | 14,202 | 862,630 | ||||||
| SiteOne Landscape Supply, Inc. (a) | 24,184 | 4,047,434 | ||||||
| 5,032,946 | ||||||||
| Entertainment — 0.4% | ||||||||
| Caesars Entertainment, Inc. (a) | 10,534 | 536,918 | ||||||
| Madison Square Garden Entertainment Corp. (a) | 17,757 | 596,991 | ||||||
| Marriott Vacations Worldwide Corp. | 6,756 | 829,096 | ||||||
| Red Rock Resorts, Inc. Class A | 8,701 | 407,033 | ||||||
| SeaWorld Entertainment, Inc. (a) | 995 | 55,730 | ||||||
| Sphere Entertainment Co (a) | 18,457 | 505,537 | ||||||
| Vail Resorts, Inc. | 400 | 100,704 | ||||||
| 3,032,009 | ||||||||
| Food Services — 0.2% | ||||||||
| Compass Group PLC | 64,351 | 1,800,106 | ||||||
| Home Builders — 0.4% | ||||||||
| Cavco Industries, Inc. (a) | 1,085 | 320,075 | ||||||
| Installed Building Products, Inc. | 2,100 | 294,336 | ||||||
| LCI Industries | 3,834 | 484,464 | ||||||
| Meritage Home Corp. | 8,973 | 1,276,589 | ||||||
| NVR, Inc. (a) | 39 | 247,674 | ||||||
| Skyline Champion Corp. (a) | 10,696 | 700,053 | ||||||
| 3,323,191 | ||||||||
| Housewares — 0.2% | ||||||||
| Scotts Miracle-Gro Co. | 19,116 | 1,198,382 | ||||||
| Leisure Time — 0.0% | ||||||||
| Peloton Interactive, Inc. Class A (a) (c) | 22,814 | 175,440 | ||||||
| Rad Power Bikes, Inc., Class A (Acquired 1/22/21, Cost $69,082) (a) (d) (e) (f) | 14,321 | 8,593 | ||||||
| 184,033 | ||||||||
| Lodging — 0.9% | ||||||||
| Hilton Worldwide Holdings, Inc. | 22,100 | 3,216,655 | ||||||
| MGM Resorts International | 69,711 | 3,061,707 | ||||||
| Wyndham Hotels & Resorts, Inc. | 10,523 | 721,562 | ||||||
| 6,999,924 | ||||||||
| Retail — 6.2% | ||||||||
| Academy Sports & Outdoors, Inc. | 5,741 | 310,301 | ||||||
| Advance Auto Parts, Inc. | 17,677 | 1,242,693 | ||||||
| Asbury Automotive Group, Inc. (a) | 1,806 | 434,199 | ||||||
| Bath & Body Works, Inc. | 92,174 | 3,456,525 | ||||||
| Beacon Roofing Supply, Inc. (a) | 25,373 | 2,105,452 | ||||||
| Best Buy Co., Inc. | 19,492 | 1,597,369 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| BJ's Restaurants, Inc. (a) | 24,684 | $ | 784,951 | |||||
| Burlington Stores, Inc. (a) | 40,730 | 6,410,495 | ||||||
| Caleres, Inc. | 30,557 | 731,229 | ||||||
| Casey's General Stores, Inc. | 8,100 | 1,975,428 | ||||||
| Cava Group, Inc. (a) | 12,206 | 499,836 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 420 | 898,380 | ||||||
| Chuy's Holdings, Inc. (a) | 16,192 | 660,957 | ||||||
| Dollar General Corp. | 11,347 | 1,926,494 | ||||||
| Dollar Tree, Inc. (a) | 18,677 | 2,680,150 | ||||||
| Domino's Pizza, Inc. | 7,450 | 2,510,576 | ||||||
| Dutch Bros, Inc. Class A (a) (c) | 4,000 | 113,800 | ||||||
| Fiesta Restaurant Group, Inc. (a) | 31,292 | 248,458 | ||||||
| Five Below, Inc. (a) | 23,198 | 4,559,335 | ||||||
| Floor & Decor Holdings, Inc. Class A (a) | 21,783 | 2,264,561 | ||||||
| Framebridge Future Contingency Payments (Acquired 5/19/20, Cost $10,553) (a) (d) (e) (f) | 10,553 | 4,749 | ||||||
| Group 1 Automotive, Inc. | 1,841 | 475,162 | ||||||
| Hibbett, Inc. | 3,006 | 109,088 | ||||||
| Jack in the Box, Inc. | 414 | 40,377 | ||||||
| Kohl's Corp. | 18,502 | 426,471 | ||||||
| Lululemon Athletica, Inc. (a) | 1,800 | 681,300 | ||||||
| Moncler SpA | 636 | 44,007 | ||||||
| O'Reilly Automotive, Inc. (a) | 1,100 | 1,050,830 | ||||||
| Ollie's Bargain Outlet Holdings, Inc. (a) | 23,127 | 1,339,747 | ||||||
| Papa John's International, Inc. | 26,822 | 1,980,268 | ||||||
| Petco Health & Wellness Co., Inc. (a) | 34,599 | 307,931 | ||||||
| RH (a) | 1,324 | 436,377 | ||||||
| Ross Stores, Inc. | 15,200 | 1,704,376 | ||||||
| Savers Value Village, Inc. (a) | 10,016 | 237,379 | ||||||
| The Children's Place, Inc. (a) (c) | 4,815 | 111,756 | ||||||
| Tractor Supply Co. | 3,064 | 677,450 | ||||||
| Warby Parker, Inc. Class A (a) | 38,622 | 451,491 | ||||||
| Wingstop, Inc. | 2,535 | 507,406 | ||||||
| Winmark Corp. | 159 | 52,863 | ||||||
| Yum! Brands, Inc. | 12,400 | 1,718,020 | ||||||
| 47,768,237 | ||||||||
| Textiles — 0.0% | ||||||||
| UniFirst Corp. | 1,662 | 257,627 | ||||||
| 86,956,957 | ||||||||
| Consumer, Non-cyclical — 25.5% | ||||||||
| Agriculture — 0.2% | ||||||||
| Bunge Ltd. | 13,455 | 1,269,479 | ||||||
| Pax Labs, Inc., Class A (Acquired 4/18/19, Cost $218,578) (a) (d) (e) (f) | 58,048 | 27,863 | ||||||
| 1,297,342 | ||||||||
| Beverages — 0.9% | ||||||||
| Coca-Cola Consolidated, Inc. | 1,780 | 1,132,116 | ||||||
| Constellation Brands, Inc. Class A | 10,771 | 2,651,066 | ||||||
| Monster Beverage Corp. (a) | 18,674 | 1,072,634 | ||||||
| The Boston Beer Co., Inc. Class A (a) | 5,420 | 1,671,745 | ||||||
| 6,527,561 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Biotechnology — 4.7% | ||||||||
| ACADIA Pharmaceuticals, Inc. (a) | 7,285 | $ | 174,476 | |||||
| Akero Therapeutics, Inc. (a) | 5,956 | 278,086 | ||||||
| Allakos, Inc. (a) | 8,058 | 35,133 | ||||||
| Allogene Therapeutics, Inc. (a) | 6,469 | 32,151 | ||||||
| Alnylam Pharmaceuticals, Inc. (a) | 17,280 | 3,282,163 | ||||||
| Apellis Pharmaceuticals, Inc. (a) | 36,708 | 3,344,099 | ||||||
| Arcellx, Inc. (a) | 1,429 | 45,185 | ||||||
| Argenx SE ADR (a) | 8,921 | 3,476,781 | ||||||
| Avid Bioservices, Inc. (a) | 27,573 | 385,195 | ||||||
| Avidity Biosciences, Inc. (a) | 12,418 | 137,716 | ||||||
| BeiGene Ltd. ADR (a) | 1,065 | 189,889 | ||||||
| Biogen, Inc. (a) | 4,700 | 1,338,795 | ||||||
| Blueprint Medicines Corp. (a) | 24,300 | 1,535,760 | ||||||
| C4 Therapeutics, Inc. (a) | 6,196 | 17,039 | ||||||
| Cerevel Therapeutics Holdings, Inc. (a) | 21,737 | 691,019 | ||||||
| Certara, Inc. (a) | 25,097 | 457,016 | ||||||
| Contra Abiomed, Inc. Sponsored ADR (a) | 46,744 | 1,143,826 | ||||||
| Crinetics Pharmaceuticals, Inc. (a) | 9,212 | 166,000 | ||||||
| CRISPR Therapeutics AG (a) (c) | 16,181 | 908,401 | ||||||
| CureVac NV (a) | 5,242 | 54,622 | ||||||
| Cytokinetics, Inc. (a) | 12,478 | 407,032 | ||||||
| Day One Biopharmaceuticals, Inc. (a) | 4,857 | 57,993 | ||||||
| Denali Therapeutics, Inc. (a) | 9,991 | 294,834 | ||||||
| Disc Medicine, Inc. (a) (c) | 378 | 16,783 | ||||||
| Entrada Therapeutics, Inc. (a) (c) | 6,271 | 94,943 | ||||||
| Generation Bio Co. (a) | 41,483 | 228,156 | ||||||
| Guardant Health, Inc. (a) | 14,310 | 512,298 | ||||||
| HilleVax, Inc. (a) | 9,886 | 169,940 | ||||||
| Icosavax, Inc. (a) | 32,037 | 318,127 | ||||||
| Ideaya Biosciences, Inc. (a) | 5,993 | 140,835 | ||||||
| IGM Biosciences, Inc. (a) (c) | 6,399 | 59,063 | ||||||
| Immatics NV (a) | 16,250 | 187,525 | ||||||
| Immunocore Holdings PLC ADR (a) | 1,030 | 61,759 | ||||||
| Insmed, Inc. (a) | 74,036 | 1,562,160 | ||||||
| Intellia Therapeutics, Inc. (a) | 3,531 | 143,994 | ||||||
| Ionis Pharmaceuticals, Inc. (a) | 61,294 | 2,514,893 | ||||||
| Karuna Therapeutics, Inc. (a) | 12,157 | 2,636,245 | ||||||
| Keros Therapeutics, Inc. (a) | 3,128 | 125,683 | ||||||
| Kymera Therapeutics, Inc. (a) | 22,518 | 517,689 | ||||||
| Legend Biotech Corp. ADR (a) | 1,470 | 101,474 | ||||||
| MacroGenics, Inc. (a) | 39,685 | 212,315 | ||||||
| Mirati Therapeutics, Inc. (a) | 1,706 | 61,638 | ||||||
| Monte Rosa Therapeutics, Inc. (a) | 7,261 | 49,738 | ||||||
| MoonLake Immunotherapeutics (a) (c) | 10,748 | 548,148 | ||||||
| MorphoSys AG ADR (a) | 51,780 | 386,797 | ||||||
| NeoGenomics, Inc. (a) | 37,374 | 600,600 | ||||||
| Nkarta, Inc. (a) | 32,940 | 72,139 | ||||||
| Nurix Therapeutics, Inc. (a) | 5,116 | 51,109 | ||||||
| Nuvalent, Inc., Class A (a) | 1,032 | 43,519 | ||||||
| Olink Holding AB ADR (a) (c) | 19,273 | 361,369 | ||||||
| Pliant Therapeutics, Inc. (a) (c) | 5,015 | 90,872 | ||||||
| Prime Medicine, Inc. (a) | 4,440 | 65,046 | ||||||
| Prothena Corp. PLC (a) | 12,965 | 885,250 | ||||||
| PTC Therapeutics, Inc. (a) | 1,416 | 57,589 | ||||||
| RAPT Therapeutics, Inc. (a) | 14,930 | 279,191 | ||||||
| Relay Therapeutics, Inc. (a) | 27,600 | 346,656 | ||||||
| Replimune Group, Inc. (a) | 14,943 | 346,976 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Revolution Medicines, Inc. (a) | 6,645 | $ | 177,754 | |||||
| Rocket Pharmaceuticals, Inc. (a) | 2,287 | 45,443 | ||||||
| Sage Therapeutics, Inc. (a) | 1,750 | 82,285 | ||||||
| Sana Biotechnology, Inc. (a) (c) | 7,859 | 46,840 | ||||||
| Scholar Rock Holding Corp. (a) | 29,639 | 223,478 | ||||||
| Seagen, Inc. (a) | 2,100 | 404,166 | ||||||
| Seer, Inc. (a) | 10,158 | 43,375 | ||||||
| Senti Biosciences, Inc. (a) | 6,069 | 3,785 | ||||||
| SpringWorks Therapeutics, Inc. (a) | 1,213 | 31,805 | ||||||
| Structure Therapeutics, Inc. ADR (a) | 7,042 | 292,736 | ||||||
| Syndax Pharmaceuticals, Inc. (a) | 7,327 | 153,354 | ||||||
| Tenaya Therapeutics, Inc. (a) | 18,293 | 107,380 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 4,590 | 211,737 | ||||||
| Ventyx Biosciences, Inc. (a) | 12,464 | 408,819 | ||||||
| Verve Therapeutics, Inc. (a) | 13,871 | 260,081 | ||||||
| Xencor, Inc. (a) | 29,409 | 734,343 | ||||||
| Zai Lab Ltd. ADR (a) | 3,399 | 94,254 | ||||||
| Zentalis Pharmaceuticals, Inc. (a) (c) | 17,059 | 481,234 | ||||||
| 36,106,599 | ||||||||
| Commercial Services — 5.9% | ||||||||
| Altus Group Ltd. | 3,533 | 117,158 | ||||||
| Ashtead Group PLC | 19,962 | 1,386,160 | ||||||
| Booz Allen Hamilton Holding Corp. | 22,507 | 2,511,781 | ||||||
| Bright Horizons Family Solutions, Inc. (a) | 45,154 | 4,174,487 | ||||||
| Clarivate PLC (a) | 48,482 | 462,033 | ||||||
| CoStar Group, Inc. (a) | 30,965 | 2,755,885 | ||||||
| Equifax, Inc. | 13,200 | 3,105,960 | ||||||
| FleetCor Technologies, Inc. (a) | 25,891 | 6,500,712 | ||||||
| FTI Consulting, Inc. (a) | 2,371 | 450,964 | ||||||
| Global Payments, Inc. | 23,883 | 2,352,953 | ||||||
| Green Dot Corp. Class A (a) | 28,325 | 530,811 | ||||||
| Herc Holdings, Inc. | 2,560 | 350,336 | ||||||
| Huron Consulting Group, Inc. (a) | 3,014 | 255,919 | ||||||
| Legalzoom.com Inc. (a) | 19,453 | 234,992 | ||||||
| MarketAxess Holdings, Inc. | 4,775 | 1,248,281 | ||||||
| Monro, Inc. | 32,495 | 1,320,272 | ||||||
| Morningstar, Inc. | 845 | 165,679 | ||||||
| Multiplan Corp. (a) (c) | 193,383 | 408,038 | ||||||
| Paylocity Holding Corp. (a) | 24,098 | 4,446,804 | ||||||
| PROG Holdings, Inc. (a) | 15,380 | 494,006 | ||||||
| Rent the Runway, Inc. Class A (a) | 33,301 | 65,936 | ||||||
| Rentokil Initial PLC | 173,133 | 1,352,295 | ||||||
| SEACOR Marine Holdings, Inc. (a) | 41,333 | 472,436 | ||||||
| Strategic Education, Inc. | 31,542 | 2,139,809 | ||||||
| Toast, Inc., Class A (a) | 57,310 | 1,293,487 | ||||||
| TransUnion | 28,000 | 2,193,240 | ||||||
| United Rentals, Inc. | 3,800 | 1,692,406 | ||||||
| Verisk Analytics, Inc. | 7,800 | 1,763,034 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 32,456 | 1,551,072 | ||||||
| 45,796,946 | ||||||||
| Cosmetics & Personal Care — 0.1% | ||||||||
| elf Beauty, Inc. (a) | 2,125 | 242,739 | ||||||
| Kenvue, Inc. (a) | 24,460 | 646,233 | ||||||
| 888,972 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Food — 2.1% | ||||||||
| Cava Group Inc., Lockup Shares (Acquired 6/23/20-3/26/21, Cost $988,480) (a) (e) (f) | 95,343 | $ | 3,904,296 | |||||
| Flowers Foods, Inc. | 125,628 | 3,125,625 | ||||||
| Nomad Foods Ltd. (a) | 60,378 | 1,057,822 | ||||||
| Post Holdings, Inc. (a) | 14,257 | 1,235,369 | ||||||
| Sprouts Farmers Market, Inc. (a) | 3,275 | 120,291 | ||||||
| Sysco Corp. | 32,868 | 2,438,805 | ||||||
| The Simply Good Foods Co. (a) | 20,691 | 757,084 | ||||||
| TreeHouse Foods, Inc. (a) | 26,878 | 1,354,114 | ||||||
| Tyson Foods, Inc. Class A | 39,758 | 2,029,248 | ||||||
| Utz Brands, Inc. (c) | 32,745 | 535,708 | ||||||
| 16,558,362 | ||||||||
| Health Care – Products — 6.7% | ||||||||
| 10X Genomics, Inc. Class A (a) | 7,600 | 424,384 | ||||||
| Adaptive Biotechnologies Corp. (a) | 7,194 | 48,272 | ||||||
| Alcon, Inc. | 22,200 | 1,822,842 | ||||||
| Atrion Corp. | 803 | 454,257 | ||||||
| Avanos Medical, Inc. (a) | 10,655 | 272,342 | ||||||
| Avantor, Inc. (a) | 122,500 | 2,516,150 | ||||||
| Baxter International, Inc. | 54,568 | 2,486,118 | ||||||
| Bio-Techne Corp. | 8,314 | 678,672 | ||||||
| Bruker Corp. | 55,749 | 4,120,966 | ||||||
| Dentsply Sirona, Inc. | 67,366 | 2,695,987 | ||||||
| Embecta Corp. | 38,651 | 834,862 | ||||||
| Enovis Corp. (a) | 23,133 | 1,483,288 | ||||||
| Exact Sciences Corp. (a) | 10,500 | 985,950 | ||||||
| Gyroscope Therapeutics, Milestone Payment 1 (Acquired 2/18/22, Cost $31,900) (a) (d) (e) (f) | 31,900 | 15,631 | ||||||
| Gyroscope Therapeutics, Milestone Payment 2 (Acquired 2/18/22, Cost $21,260) (a) (d) (e) (f) | 21,260 | 5,740 | ||||||
| Gyroscope Therapeutics, Milestone Payment 3 (Acquired 2/18/22, Cost $21,260) (a) (d) (e) (f) | 21,260 | 5,528 | ||||||
| Hologic, Inc. (a) | 76,100 | 6,161,817 | ||||||
| ICU Medical, Inc. (a) | 10,724 | 1,910,909 | ||||||
| Koninklijke Philips NV | 94,599 | 2,047,155 | ||||||
| Lantheus Holdings, Inc. (a) | 7,002 | 587,608 | ||||||
| Masimo Corp. (a) | 3,800 | 625,290 | ||||||
| Neogen Corp. (a) | 32,809 | 713,596 | ||||||
| Novocure Ltd. (a) | 8,602 | 356,983 | ||||||
| Pacific Biosciences of California, Inc. (a) | 42,147 | 560,555 | ||||||
| Penumbra, Inc. (a) | 1,648 | 567,011 | ||||||
| PROCEPT BioRobotics Corp. (a) | 21,129 | 746,910 | ||||||
| Quidelortho Corp. (a) | 29,880 | 2,475,857 | ||||||
| Repligen Corp. (a) | 10,823 | 1,531,021 | ||||||
| Sartorius Stedim Biotech | 976 | 243,899 | ||||||
| Shockwave Medical, Inc. (a) | 755 | 215,484 | ||||||
| Teleflex, Inc. | 22,473 | 5,439,140 | ||||||
| The Cooper Cos., Inc. | 6,700 | 2,568,981 | ||||||
| Utah Medical Products, Inc. | 2,710 | 252,572 | ||||||
| West Pharmaceutical Services, Inc. | 10,608 | 4,057,242 | ||||||
| Zimmer Biomet Holdings, Inc. | 13,756 | 2,002,874 | ||||||
| 51,915,893 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Services — 3.1% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 29,200 | $ | 2,325,488 | |||||
| Agiliti, Inc. (a) (c) | 18,868 | 311,322 | ||||||
| agilon health, Inc. (a) | 54,145 | 938,874 | ||||||
| Catalent, Inc. (a) | 58,135 | 2,520,734 | ||||||
| Centene Corp. (a) | 20,529 | 1,384,681 | ||||||
| Charles River Laboratories International, Inc. (a) | 13,248 | 2,785,392 | ||||||
| dentalcorp Holdings Ltd. (a) (c) | 18,724 | 103,744 | ||||||
| Eurofins Scientific SE (c) | 7,950 | 504,973 | ||||||
| Ginkgo Bioworks, Inc., Earnout Shares 15.00 (Acquired 9/17/21, Cost $0) (a) (d) (e) (f) | 874 | 422 | ||||||
| Ginkgo Bioworks, Inc., Earnout Shares 17.50 (Acquired 9/17/21, Cost $0) (a) (d) (e) (f) | 874 | 373 | ||||||
| Ginkgo Bioworks, Inc., Earnout Shares 20.00 (Acquired 9/17/21, Cost $0) (a) (d) (e) (f) | 874 | 332 | ||||||
| Innovage Holding Corp. (a) | 41,043 | 307,823 | ||||||
| ModivCare, Inc. (a) | 8,873 | 401,148 | ||||||
| Molina Healthcare, Inc. (a) | 12,323 | 3,712,181 | ||||||
| Select Medical Holdings Corp. | 208,300 | 6,636,438 | ||||||
| Sotera Health Co. (a) | 4,000 | 75,360 | ||||||
| The Ensign Group, Inc. | 8,270 | 789,454 | ||||||
| The Pennant Group, Inc. (a) | 28,922 | 355,162 | ||||||
| U.S. Physical Therapy, Inc. | 5,729 | 695,443 | ||||||
| 23,849,344 | ||||||||
| Household Products & Wares — 0.6% | ||||||||
| Avery Dennison Corp. | 14,500 | 2,491,100 | ||||||
| Kimberly-Clark Corp. | 7,139 | 985,610 | ||||||
| Reynolds Consumer Products, Inc. | 37,816 | 1,068,302 | ||||||
| 4,545,012 | ||||||||
| Pharmaceuticals — 1.2% | ||||||||
| Agios Pharmaceuticals, Inc. (a) | 7,849 | 222,284 | ||||||
| Arvinas, Inc. (a) | 4,730 | 117,399 | ||||||
| Ascendis Pharma AS ADR (a) | 23,345 | 2,083,541 | ||||||
| BellRing Brands, Inc. (a) | 33,839 | 1,238,507 | ||||||
| Capsule, Corp. (Acquired 4/07/21, Cost $72,342) (a) (d) (e) (f) | 4,992 | 14,634 | ||||||
| Cardinal Health, Inc. | 15,303 | 1,447,205 | ||||||
| Centessa Pharmaceuticals PLC ADR (a) (c) | 3,637 | 22,513 | ||||||
| Elanco Animal Health, Inc. (a) | 61,064 | 614,304 | ||||||
| Immuneering Corp. Class A (a) | 5,460 | 55,364 | ||||||
| Leap Therapeutics Holdback Shares (Acquired 2/09/23, Cost $5,223) (a) (e) (f) | 400 | 1,127 | ||||||
| Leap Therapeutics, Inc. (a) | 1,256 | 3,932 | ||||||
| Longboard Pharmaceuticals, Inc. (a) | 3,060 | 22,460 | ||||||
| Lyell Immunopharma, Inc. (a) (c) | 7,678 | 24,416 | ||||||
| Morphic Holding, Inc. (a) | 9,442 | 541,310 | ||||||
| Neurocrine Biosciences, Inc. (a) | 1,238 | 116,743 | ||||||
| Option Care Health, Inc. (a) | 28,708 | 932,723 | ||||||
| Reata Pharmaceuticals, Inc. Class A (a) | 575 | 58,627 | ||||||
| Repare Therapeutics, Inc. (a) | 13,913 | 147,200 | ||||||
| Vaxcyte, Inc. (a) | 11,309 | 564,772 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Viatris, Inc. | 119,499 | $ | 1,192,600 | |||||
| 9,421,661 | ||||||||
| 196,907,692 | ||||||||
| Diversified — 0.0% | ||||||||
| Holding Company – Diversified — 0.0% | ||||||||
| Conyers Park III Acquisition Corp. (a) | 31,244 | 319,314 | ||||||
| Energy — 4.0% | ||||||||
| Energy – Alternate Sources — 0.2% | ||||||||
| NextEra Energy Partners LP (c) | 10,244 | 600,708 | ||||||
| REX American Resources Corp. (a) | 4,238 | 147,525 | ||||||
| Shoals Technologies Group, Inc. Class A (a) | 17,800 | 454,968 | ||||||
| 1,203,201 | ||||||||
| Oil & Gas — 1.8% | ||||||||
| Advantage Energy Ltd. (a) | 51,592 | 336,872 | ||||||
| Coterra Energy, Inc. | 40,400 | 1,022,120 | ||||||
| Devon Energy Corp. | 20,678 | 999,575 | ||||||
| Diamondback Energy, Inc. | 7,711 | 1,012,917 | ||||||
| EQT Corp. | 24,500 | 1,007,685 | ||||||
| Imperial Oil Ltd. | 16,728 | 855,804 | ||||||
| Kimbell Royalty Partners LP | 9,040 | 132,978 | ||||||
| Magnolia Oil & Gas Corp. Class A | 111,858 | 2,337,832 | ||||||
| Matador Resources Co. | 24,509 | 1,282,311 | ||||||
| Pioneer Natural Resources Co. | 8,366 | 1,733,268 | ||||||
| Range Resources Corp. | 33,580 | 987,252 | ||||||
| Southwestern Energy Co. (a) | 63,700 | 382,837 | ||||||
| Suncor Energy, Inc. | 56,384 | 1,653,179 | ||||||
| Venture Global LNG, Inc., Series B (Acquired 3/08/18, Cost $33,220) (a) (d) (e) (f) | 11 | 198,000 | ||||||
| Venture Global LNG, Inc., Series C (Acquired 3/08/18, Cost $27,180) (a) (d) (e) (f) | 9 | 162,000 | ||||||
| 14,104,630 | ||||||||
| Oil & Gas Services — 1.8% | ||||||||
| Aris Water Solutions, Inc. Class A (c) | 27,070 | 279,362 | ||||||
| Baker Hughes Co. | 33,711 | 1,065,605 | ||||||
| ChampionX Corp. | 28,249 | 876,849 | ||||||
| Enerflex Ltd. | 82,133 | 559,230 | ||||||
| Expro Group Holdings NV (a) | 93,090 | 1,649,555 | ||||||
| Liberty Energy, Inc. | 66,764 | 892,635 | ||||||
| NexTier Oilfield Solutions, Inc. (a) | 63,474 | 567,457 | ||||||
| Ranger Energy Services, Inc. (a) | 21,820 | 223,437 | ||||||
| TechnipFMC PLC (a) | 297,302 | 4,941,159 | ||||||
| Tidewater, Inc. (a) | 56,157 | 3,113,344 | ||||||
| 14,168,633 | ||||||||
| Pipelines — 0.2% | ||||||||
| Cheniere Energy, Inc. | 9,200 | 1,401,712 | ||||||
| 30,878,176 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Financial — 14.6% | ||||||||
| Banks — 4.3% | ||||||||
| BankUnited, Inc. | 54,235 | $ | 1,168,764 | |||||
| Blue Foundry Bancorp (a) | 20,556 | 207,821 | ||||||
| Burke & Herbert Financial Services Corp. | 823 | 52,837 | ||||||
| Cadence Bank | 23,228 | 456,198 | ||||||
| Cathay General Bancorp | 7,227 | 232,637 | ||||||
| Coastal Financial Corp. (a) | 6,370 | 239,831 | ||||||
| Columbia Banking System, Inc. | 72,036 | 1,460,890 | ||||||
| CRB Group, Inc. (Acquired 4/14/22, Cost $73,283) (a) (d) (e) (f) | 697 | 53,920 | ||||||
| CrossFirst Bankshares, Inc. (a) | 41,562 | 415,620 | ||||||
| Dime Community Bancshares, Inc. | 14,559 | 256,675 | ||||||
| Dogwood State Bank, (Non-Voting) (Acquired 5/06/19, Cost $53,690) (a) (d) (e) (f) | 5,369 | 107,380 | ||||||
| Dogwood State Bank, (Voting) (Acquired 5/06/19, Cost $26,370) (a) (d) (e) (f) | 2,637 | 52,740 | ||||||
| East West Bancorp, Inc. | 27,774 | 1,466,190 | ||||||
| Eastern Bankshares, Inc. | 92,134 | 1,130,484 | ||||||
| Equity Bancshares, Inc. Class A | 9,517 | 216,797 | ||||||
| Farmers & Merchants Bank of Long Beach/Long Beach CA | 31 | 168,330 | ||||||
| FB Financial Corp. | 31,767 | 891,064 | ||||||
| Fifth Third Bancorp | 128,231 | 3,360,935 | ||||||
| Five Star Bancorp | 9,617 | 215,132 | ||||||
| HarborOne Bancorp, Inc. | 32,374 | 281,006 | ||||||
| Heritage Commerce Corp. | 38,877 | 321,902 | ||||||
| Home BancShares, Inc. | 59,256 | 1,351,037 | ||||||
| Independent Bank Corp. | 5,969 | 265,680 | ||||||
| Independent Bank Group, Inc. | 9,504 | 328,173 | ||||||
| John Marshall Bancorp, Inc. | 11,949 | 240,056 | ||||||
| Kearny Financial Corp. | 48,462 | 341,657 | ||||||
| Live Oak Bancshares, Inc. | 45,059 | 1,185,502 | ||||||
| Metropolitan Bank Holding Corp. (a) (c) | 6,216 | 215,882 | ||||||
| National Bank Holdings Corp. Class A | 22,710 | 659,498 | ||||||
| Origin Bancorp, Inc. | 27,630 | 809,559 | ||||||
| Pinnacle Financial Partners, Inc. | 26,991 | 1,529,040 | ||||||
| Ponce Financial Group, Inc. (a) | 21,067 | 183,072 | ||||||
| Popular, Inc. | 61,950 | 3,749,214 | ||||||
| Preferred Bank | 10,861 | 597,246 | ||||||
| Provident Bancorp, Inc. | 13,162 | 108,981 | ||||||
| Sandy Spring Bancorp, Inc. | 17,986 | 407,923 | ||||||
| Southern First Bancshares, Inc. (a) | 5,100 | 126,225 | ||||||
| SouthState Corp. | 26,663 | 1,754,425 | ||||||
| Texas Capital Bancshares, Inc. (a) | 20,696 | 1,065,844 | ||||||
| The First Bancshares, Inc. | 23,018 | 594,785 | ||||||
| Towne Bank | 28,270 | 656,995 | ||||||
| Veritex Holdings, Inc. | 28,406 | 509,320 | ||||||
| Walker & Dunlop, Inc. | 7,880 | 623,229 | ||||||
| Webster Financial Corp. | 65,112 | 2,457,978 | ||||||
| Western Alliance Bancorp | 22,463 | 819,226 | ||||||
| 33,337,700 | ||||||||
| Diversified Financial Services — 2.7% | ||||||||
| Air Lease Corp. | 16,887 | 706,721 | ||||||
| Apollo Global Management, Inc. | 27,718 | 2,129,020 | ||||||
| Assetmark Financial Holdings, Inc. (a) | 16,596 | 492,237 | ||||||
| Cboe Global Markets, Inc. | 8,439 | 1,164,666 | ||||||
| Columbia Financial, Inc. (a) (c) | 12,050 | 208,345 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Encore Capital Group, Inc. (a) | 8,436 | $ | 410,158 | |||||
| Grasshopper Bancorp, Inc. (Acquired 5/02/19, Cost $83,390) (a) (d) (e) (f) | 8,339 | 20,097 | ||||||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. (c) | 35,013 | 875,325 | ||||||
| Houlihan Lokey, Inc. | 9,716 | 955,180 | ||||||
| Intercontinental Exchange, Inc. | 19,300 | 2,182,444 | ||||||
| NerdWallet, Inc. Class A Class A (a) | 13,732 | 129,218 | ||||||
| OneMain Holdings, Inc. | 37,799 | 1,651,438 | ||||||
| OTC Markets Group, Inc. Class A | 4,941 | 284,602 | ||||||
| PennyMac Financial Services, Inc. | 35,992 | 2,530,598 | ||||||
| PRA Group, Inc. (a) | 23,679 | 541,065 | ||||||
| Radian Group, Inc. | 43,870 | 1,109,034 | ||||||
| Raymond James Financial, Inc. | 12,250 | 1,271,182 | ||||||
| Stash Financial, Inc. (Acquired 1/06/21-1/26/21, Cost $15,690) (a) (d) (e) (f) | 487 | 7,096 | ||||||
| StepStone Group, Inc. Class A | 26,180 | 649,526 | ||||||
| TMX Group Ltd. | 20,550 | 462,423 | ||||||
| Tradeweb Markets, Inc. Class A | 28,100 | 1,924,288 | ||||||
| Virtus Investment Partners, Inc. | 3,090 | 610,182 | ||||||
| Voya Financial, Inc. | 3,487 | 250,053 | ||||||
| 20,564,898 | ||||||||
| Insurance — 2.7% | ||||||||
| Assurant, Inc. | 31,901 | 4,010,594 | ||||||
| Axis Capital Holdings Ltd. | 32,873 | 1,769,554 | ||||||
| BRP Group, Inc. Class A (a) | 12,692 | 314,508 | ||||||
| CNA Financial Corp. | 40,051 | 1,546,770 | ||||||
| Corebridge Financial, Inc. | 44,092 | 778,665 | ||||||
| Essent Group Ltd. | 6,736 | 315,245 | ||||||
| Jackson Financial, Inc., Class A | 37,630 | 1,151,854 | ||||||
| James River Group Holdings Ltd. | 26,453 | 483,032 | ||||||
| Kemper Corp. | 53,151 | 2,565,067 | ||||||
| Markel Group, Inc. (a) | 250 | 345,795 | ||||||
| Palomar Holdings, Inc. (a) | 3,253 | 188,804 | ||||||
| ProAssurance Corp. | 28,484 | 429,824 | ||||||
| RenaissanceRe Holdings Ltd. | 10,655 | 1,987,371 | ||||||
| Ryan Specialty Holdings, Inc. (a) (c) | 13,469 | 604,623 | ||||||
| Selective Insurance Group, Inc. | 18,772 | 1,801,173 | ||||||
| Skyward Specialty Insurance Group, Inc. (a) | 4,226 | 107,340 | ||||||
| The Allstate Corp. | 11,386 | 1,241,529 | ||||||
| The First American Financial Corp. | 10,158 | 579,209 | ||||||
| The Hanover Insurance Group, Inc. | 5,990 | 677,050 | ||||||
| White Mountains Insurance Group Ltd. | 72 | 100,001 | ||||||
| 20,998,008 | ||||||||
| Private Equity — 0.4% | ||||||||
| KKR & Co., Inc. | 46,000 | 2,576,000 | ||||||
| P10, Inc. Class A | 29,684 | 335,429 | ||||||
| 2,911,429 | ||||||||
| Real Estate — 0.7% | ||||||||
| FirstService Corp. | 16,770 | 2,584,089 | ||||||
| McGrath RentCorp | 5,738 | 530,650 | ||||||
| St. Joe Co. | 21,026 | 1,016,397 | ||||||
| Tricon Residential, Inc. | 135,934 | 1,197,579 | ||||||
| 5,328,715 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Real Estate Investment Trusts (REITS) — 3.6% | ||||||||
| Apartment Investment & Management Co. Class A | 164,697 | $ | 1,403,218 | |||||
| Apple Hospitality REIT, Inc. | 44,799 | 676,913 | ||||||
| Community Healthcare Trust, Inc. | 7,332 | 242,103 | ||||||
| CubeSmart | 39,060 | 1,744,420 | ||||||
| Digital Realty Trust, Inc. | 10,841 | 1,234,465 | ||||||
| Douglas Emmett, Inc. (c) | 27,423 | 344,707 | ||||||
| EastGroup Properties, Inc. | 14,269 | 2,477,098 | ||||||
| Elme Communities | 4,268 | 70,166 | ||||||
| Equity Residential | 28,361 | 1,870,975 | ||||||
| Essential Properties Realty Trust, Inc. | 28,337 | 667,053 | ||||||
| Flagship Communities REIT | 8,813 | 143,211 | ||||||
| Independence Realty Trust, Inc. | 57,178 | 1,041,783 | ||||||
| JBG SMITH Properties | 18,464 | 277,699 | ||||||
| NETSTREIT Corp. | 24,661 | 440,692 | ||||||
| NexPoint Residential Trust, Inc. | 6,879 | 312,857 | ||||||
| Pebblebrook Hotel Trust (c) | 45,883 | 639,609 | ||||||
| PennyMac Mortgage Investment Trust (c) | 43,392 | 584,924 | ||||||
| PotlatchDeltic Corp. | 13,067 | 690,591 | ||||||
| Rayonier, Inc. | 48,348 | 1,518,127 | ||||||
| Regency Centers Corp. | 27,578 | 1,703,493 | ||||||
| Rexford Industrial Realty, Inc. | 60,077 | 3,137,221 | ||||||
| Safehold, Inc. (c) | 18,044 | 428,184 | ||||||
| Saul Centers, Inc. | 15,394 | 566,961 | ||||||
| SBA Communications Corp. | 4,468 | 1,035,504 | ||||||
| Simon Property Group, Inc. | 4,451 | 514,001 | ||||||
| Terreno Realty Corp. | 29,334 | 1,762,973 | ||||||
| UMH Properties, Inc. | 15,434 | 246,635 | ||||||
| Vornado Realty Trust | 46,875 | 850,313 | ||||||
| Weyerhaeuser Co. | 41,725 | 1,398,205 | ||||||
| 28,024,101 | ||||||||
| Savings & Loans — 0.2% | ||||||||
| Capitol Federal Financial, Inc. | 35,411 | 218,486 | ||||||
| FS Bancorp, Inc. | 7,917 | 238,064 | ||||||
| Pacific Premier Bancorp, Inc. | 28,809 | 595,770 | ||||||
| WSFS Financial Corp. | 19,553 | 737,539 | ||||||
| 1,789,859 | ||||||||
| 112,954,710 | ||||||||
| Industrial — 17.0% | ||||||||
| Aerospace & Defense — 0.8% | ||||||||
| Bombardier, Inc. Class B (a) (c) | 5,200 | 256,359 | ||||||
| Bombas LLC. (Acquired 2/12/21, Cost $183,470) (a) (d) (e) (f) | 41,514 | 145,714 | ||||||
| L3 Harris Technologies, Inc. | 5,375 | 1,052,264 | ||||||
| Rolls-Royce Holdings PLC (a) | 965,401 | 1,854,161 | ||||||
| Spirit AeroSystems Holdings, Inc. Class A | 83,899 | 2,449,012 | ||||||
| Triumph Group, Inc. (a) | 29,436 | 364,123 | ||||||
| 6,121,633 | ||||||||
| Building Materials — 1.6% | ||||||||
| Armstrong World Industries, Inc. | 5,298 | 389,192 | ||||||
| Fortune Brands Innovations, Inc. | 15,878 | 1,142,422 | ||||||
| JELD-WEN Holding, Inc. (a) | 11,832 | 207,533 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Martin Marietta Materials, Inc. | 6,131 | $ | 2,830,621 | |||||
| SPX Technologies, Inc. (a) | 20,076 | 1,705,858 | ||||||
| Summit Materials, Inc. Class A (a) | 45,580 | 1,725,203 | ||||||
| Trane Technologies PLC | 6,941 | 1,327,536 | ||||||
| UFP Industries, Inc. | 13,678 | 1,327,450 | ||||||
| Vulcan Materials Co. | 7,244 | 1,633,087 | ||||||
| West Fraser Timber Co. Ltd. | 4,079 | 350,429 | ||||||
| West Fraser Timber Co. Ltd. | 511 | 43,936 | ||||||
| 12,683,267 | ||||||||
| Electrical Components & Equipment — 0.6% | ||||||||
| Belden, Inc. | 7,354 | 703,410 | ||||||
| Insteel Industries, Inc. | 4,552 | 141,659 | ||||||
| Littelfuse, Inc. | 9,066 | 2,641,017 | ||||||
| Novanta, Inc. (a) | 5,629 | 1,036,299 | ||||||
| 4,522,385 | ||||||||
| Electronics — 2.6% | ||||||||
| Agilent Technologies, Inc. | 34,700 | 4,172,675 | ||||||
| Amphenol Corp. Class A | 19,300 | 1,639,536 | ||||||
| Atmus Filtration Technologies, Inc. (a) | 2,139 | 46,972 | ||||||
| Brady Corp. Class A | 14,027 | 667,264 | ||||||
| CTS Corp. | 18,957 | 808,137 | ||||||
| Fortive Corp. | 42,400 | 3,170,248 | ||||||
| Hubbell, Inc. | 5,593 | 1,854,415 | ||||||
| Keysight Technologies, Inc. (a) | 18,400 | 3,081,080 | ||||||
| Knowles Corp. (a) | 17,832 | 322,046 | ||||||
| Mirion Technologies, Inc. (a) | 136,068 | 1,149,775 | ||||||
| Napco Security Technologies, Inc. | 10,889 | 377,304 | ||||||
| TE Connectivity Ltd. | 11,690 | 1,638,470 | ||||||
| Vontier Corp. | 46,647 | 1,502,500 | ||||||
| 20,430,422 | ||||||||
| Environmental Controls — 0.3% | ||||||||
| Casella Waste Systems, Inc. Class A (a) | 5,342 | 483,184 | ||||||
| Stericycle, Inc. (a) | 9,807 | 455,437 | ||||||
| Tetra Tech, Inc. | 4,525 | 740,924 | ||||||
| Waste Connections, Inc. | 4,900 | 700,357 | ||||||
| 2,379,902 | ||||||||
| Hand & Machine Tools — 0.8% | ||||||||
| Cadre Holdings, Inc. | 7,823 | 170,541 | ||||||
| Enerpac Tool Group Corp. | 27,588 | 744,876 | ||||||
| MSA Safety, Inc. | 2,906 | 505,529 | ||||||
| Stanley Black & Decker, Inc. | 50,193 | 4,703,586 | ||||||
| 6,124,532 | ||||||||
| Machinery – Construction & Mining — 0.1% | ||||||||
| BWX Technologies, Inc. | 12,500 | 894,625 | ||||||
| Machinery – Diversified — 3.6% | ||||||||
| Alamo Group, Inc. | 3,054 | 561,661 | ||||||
| ATS Corp. (a) (c) | 3,188 | 146,935 | ||||||
| Cactus, Inc. Class A | 21,709 | 918,725 | ||||||
| Cognex Corp. | 17,800 | 997,156 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Crane Co. | 400 | $ | 35,649 | |||||
| CSW Industrials, Inc. | 8,252 | 1,371,400 | ||||||
| Esab Corp. | 60,553 | 4,029,197 | ||||||
| Graco, Inc. | 8,625 | 744,769 | ||||||
| Hydrofarm Holdings Group, Inc. (a) | 6,021 | 4,708 | ||||||
| IDEX Corp. | 14,901 | 3,207,589 | ||||||
| Ingersoll Rand, Inc. | 135,160 | 8,834,058 | ||||||
| Marel HF | 27,870 | 88,840 | ||||||
| Mueller Water Products, Inc. Class A | 44,381 | 720,304 | ||||||
| Rockwell Automation, Inc. | 2,953 | 972,866 | ||||||
| The Middleby Corp. (a) | 13,120 | 1,939,530 | ||||||
| Thermon Group Holdings, Inc. (a) | 22,927 | 609,858 | ||||||
| Toro Co. | 18,900 | 1,921,185 | ||||||
| Zurn Elkay Water Solutions Corp. Class C | 31,259 | 840,554 | ||||||
| 27,944,984 | ||||||||
| Metal Fabricate & Hardware — 0.7% | ||||||||
| AZZ, Inc. | 15,949 | 693,144 | ||||||
| Helios Technologies, Inc. | 21,826 | 1,442,480 | ||||||
| RBC Bearings, Inc. (a) | 11,111 | 2,416,309 | ||||||
| Strattec Security Corp. (a) | 3,912 | 71,198 | ||||||
| Valmont Industries, Inc. | 2,000 | 582,100 | ||||||
| Xometry, Inc. Class A (a) | 21,065 | 446,157 | ||||||
| 5,651,388 | ||||||||
| Miscellaneous - Manufacturing — 2.1% | ||||||||
| Alstom SA | 50,488 | 1,507,051 | ||||||
| EnPro Industries, Inc. | 3,800 | 507,414 | ||||||
| ESCO Technologies, Inc. | 13,061 | 1,353,511 | ||||||
| Federal Signal Corp. | 17,166 | 1,099,139 | ||||||
| John Bean Technologies Corp. | 7,454 | 904,170 | ||||||
| Myers Industries, Inc. | 19,983 | 388,270 | ||||||
| Teledyne Technologies, Inc. (a) | 8,778 | 3,608,724 | ||||||
| Textron, Inc. | 95,795 | 6,478,616 | ||||||
| 15,846,895 | ||||||||
| Packaging & Containers — 1.4% | ||||||||
| Ball Corp. | 111,765 | 6,505,841 | ||||||
| Clearwater Paper Corp. (a) | 15,050 | 471,366 | ||||||
| Sealed Air Corp. | 37,400 | 1,496,000 | ||||||
| WestRock Co. | 72,131 | 2,096,848 | ||||||
| 10,570,055 | ||||||||
| Shipbuilding — 0.2% | ||||||||
| Huntington Ingalls Industries, Inc. | 6,943 | 1,580,227 | ||||||
| Transportation — 2.2% | ||||||||
| International Seaways, Inc. | 3,371 | 128,907 | ||||||
| JB Hunt Transport Services, Inc. | 36,165 | 6,546,949 | ||||||
| Landstar System, Inc. | 8,453 | 1,627,541 | ||||||
| Matson, Inc. | 2,822 | 219,354 | ||||||
| Norfolk Southern Corp. | 9,194 | 2,084,832 | ||||||
| Old Dominion Freight Line, Inc. | 7,109 | 2,628,552 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Saia, Inc. (a) | 9,807 | $ | 3,358,015 | |||||
| 16,594,150 | ||||||||
| 131,344,465 | ||||||||
| Technology — 14.2% | ||||||||
| Commercial Services — 0.0% | ||||||||
| Socure, Inc. (Acquired 12/22/21, Cost $62,185) (a) (d) (e) (f) | 3,870 | 28,948 | ||||||
| Computers — 2.2% | ||||||||
| Apiture, Inc. (Acquired 7/01/20-6/30/22, Cost $97,636) (a) (d) (e) (f) | 6,130 | 108,869 | ||||||
| Coalition, Inc. (Acquired 9/13/21, Cost $4,230) (a) (d) (e) (f) | 256 | 4,321 | ||||||
| Conduent, Inc. (a) | 77,483 | 263,442 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 17,562 | 2,579,331 | ||||||
| Endava PLC Sponsored ADR (a) | 26,898 | 1,393,047 | ||||||
| Fortinet, Inc. (a) | 28,200 | 2,131,638 | ||||||
| Globant SA (a) | 12,717 | 2,285,499 | ||||||
| PAR Technology Corp. (a) (c) | 25,984 | 855,653 | ||||||
| Parsons Corp. (a) | 28,672 | 1,380,270 | ||||||
| Pure Storage, Inc. Class A (a) | 41,356 | 1,522,728 | ||||||
| Western Digital Corp. (a) | 119,888 | 4,547,352 | ||||||
| Zscaler, Inc. (a) | 216 | 31,601 | ||||||
| 17,103,751 | ||||||||
| Office & Business Equipment — 0.1% | ||||||||
| Zebra Technologies Corp. Class A (a) | 1,960 | 579,827 | ||||||
| Semiconductors — 4.2% | ||||||||
| Entegris, Inc. | 28,729 | 3,183,748 | ||||||
| KLA Corp. | 4,459 | 2,162,704 | ||||||
| Lattice Semiconductor Corp. (a) | 35,524 | 3,412,791 | ||||||
| MACOM Technology Solutions Holdings, Inc. (a) | 12,450 | 815,848 | ||||||
| Marvell Technology, Inc. | 145,383 | 8,690,996 | ||||||
| MaxLinear, Inc. (a) | 4,855 | 153,224 | ||||||
| Microchip Technology, Inc. | 80,100 | 7,176,159 | ||||||
| MKS Instruments, Inc. | 29,923 | 3,234,676 | ||||||
| Monolithic Power Systems, Inc. | 2,096 | 1,132,322 | ||||||
| NXP Semiconductor NV | 3,200 | 654,976 | ||||||
| Onto Innovation, Inc. (a) | 12,436 | 1,448,421 | ||||||
| SiTime Corp. (a) | 2,300 | 271,331 | ||||||
| 32,337,196 | ||||||||
| Software — 7.7% | ||||||||
| Agilysys, Inc. (a) | 7,358 | 505,053 | ||||||
| Alignment Healthcare, Inc. (a) | 88,184 | 507,058 | ||||||
| Amplitude, Inc. Class A Class A (a) | 37,144 | 408,584 | ||||||
| Atlassian Corp. Class A Class A (a) | 16,140 | 2,708,453 | ||||||
| Bill Holdings, Inc. (a) | 33,993 | 3,972,082 | ||||||
| Black Knight, Inc. (a) | 28,068 | 1,676,502 | ||||||
| Braze, Inc. Class A (a) | 4,000 | 175,160 | ||||||
| Broadridge Financial Solutions, Inc. | 10,900 | 1,805,367 | ||||||
| CCC Intelligent Solutions Holdings, Inc. (a) | 114,686 | 1,285,630 | ||||||
| Ceridian HCM Holding, Inc. (a) | 42,367 | 2,837,318 | ||||||
| Checkr, Inc. (Acquired 6/29/18-12/02/19, Cost $116,452) (a) (d) (e) (f) | 15,444 | 83,398 | ||||||
| Clear Secure, Inc. Class A (c) | 49,646 | 1,150,298 | ||||||
| Confluent, Inc. Class A (a) | 15,746 | 555,991 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Databricks, Inc. (Acquired 7/24/20-8/28/20, Cost $24,732) (a) (d) (e) (f) | 1,545 | $ | 113,032 | |||||
| Datadog, Inc. Class A (a) | 8,886 | 874,205 | ||||||
| DoubleVerify Holdings, Inc. (a) | 44,667 | 1,738,440 | ||||||
| Doximity, Inc. Class A (a) | 23,051 | 784,195 | ||||||
| Duolingo, Inc. (a) | 5,457 | 780,024 | ||||||
| Dynatrace, Inc. (a) | 4,592 | 236,350 | ||||||
| Envestnet, Inc. (a) | 8,522 | 505,781 | ||||||
| Fair Isaac Corp. (a) | 2,400 | 1,942,104 | ||||||
| Five9, Inc. (a) | 12,798 | 1,055,195 | ||||||
| Gusto, Inc. (Acquired 8/18/20-11/09/20, Cost $204,799) (a) (d) (e) (f) | 15,332 | 288,702 | ||||||
| HashiCorp, Inc. Class A (a) | 4,100 | 107,338 | ||||||
| HubSpot, Inc. (a) | 4,438 | 2,361,415 | ||||||
| Manhattan Associates, Inc. (a) | 3,489 | 697,381 | ||||||
| Monday.com Ltd. (a) | 8,467 | 1,449,720 | ||||||
| MongoDB, Inc. (a) | 6,952 | 2,857,202 | ||||||
| MSCI, Inc. | 109 | 51,153 | ||||||
| nCino, Inc. (a) | 7,775 | 234,183 | ||||||
| Outset Medical, Inc. (a) | 22,338 | 488,532 | ||||||
| Paycom Software, Inc. | 729 | 234,184 | ||||||
| Paycor HCM, Inc. (a) (c) | 31,387 | 742,930 | ||||||
| Phreesia, Inc. (a) | 12,893 | 399,812 | ||||||
| Privia Health Group, Inc. (a) | 34,239 | 893,980 | ||||||
| Procore Technologies, Inc. (a) | 29,994 | 1,951,710 | ||||||
| PTC, Inc. (a) | 14,800 | 2,106,040 | ||||||
| Roper Technologies, Inc. | 9,295 | 4,469,036 | ||||||
| ServiceTitan, Inc. (Acquired 11/09/18-5/04/21, Cost $29,280) (a) (d) (e) (f) | 637 | 46,444 | ||||||
| SS&C Technologies Holdings, Inc. | 41,651 | 2,524,051 | ||||||
| Synopsys, Inc. (a) | 3,831 | 1,668,056 | ||||||
| Tanium, Inc., Class B (Acquired 9/24/20, Cost $30,277) (a) (d) (e) (f) | 2,657 | 11,717 | ||||||
| The Descartes Systems Group, Inc. (a) | 29,846 | 2,390,963 | ||||||
| Themis Solutions, Inc. (Acquired 4/14/21, Cost $108,219) (a) (d) (e) (f) | 4,820 | 85,892 | ||||||
| Veeva Systems, Inc. Class A (a) | 28,272 | 5,590,222 | ||||||
| Verra Mobility Corp. (a) | 48,906 | 964,426 | ||||||
| Vimeo, Inc. (a) | 83,922 | 345,759 | ||||||
| Workiva, Inc. (a) | 11,028 | 1,121,106 | ||||||
| 59,782,174 | ||||||||
| 109,831,896 | ||||||||
| Utilities — 3.0% | ||||||||
| Electric — 2.4% | ||||||||
| Ameren Corp. | 31,013 | 2,532,832 | ||||||
| CenterPoint Energy, Inc. | 55,570 | 1,619,865 | ||||||
| Constellation Energy Corp. | 16,436 | 1,504,716 | ||||||
| Evergy, Inc. | 31,344 | 1,831,115 | ||||||
| FirstEnergy Corp. | 97,177 | 3,778,242 | ||||||
| IDACORP, Inc. | 21,861 | 2,242,939 | ||||||
| MGE Energy, Inc. | 18,620 | 1,473,029 | ||||||
| NorthWestern Corp. | 14,046 | 797,252 | ||||||
| PG&E Corp. (a) | 139,410 | 2,409,005 | ||||||
| PNM Resources, Inc. | 10,543 | 475,489 | ||||||
| 18,664,484 | ||||||||
| Gas — 0.4% | ||||||||
| Chesapeake Utilities Corp. | 11,125 | 1,323,875 | ||||||
| ONE Gas, Inc. | 14,696 | 1,128,800 | ||||||
| RGC Resources, Inc. | 4,623 | 92,598 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Southwest Gas Holdings, Inc. | 14,482 | $ | 921,779 | |||||
| 3,467,052 | ||||||||
| Water — 0.2% | ||||||||
| Artesian Resources Corp. Class A | 4,937 | 233,125 | ||||||
| California Water Service Group | 16,129 | 832,740 | ||||||
| Middlesex Water Co. | 1,924 | 155,190 | ||||||
| 1,221,055 | ||||||||
| 23,352,591 | ||||||||
| TOTAL COMMON STOCK (Cost $652,404,698) | 732,195,665 | |||||||
| PREFERRED STOCK — 1.5% | ||||||||
| Communications — 0.1% | ||||||||
| Internet — 0.1% | ||||||||
| 1661, Inc., Series F (Acquired 5/28/21, Cost $288,836) (a) (d) (e) (f) | 49,629 | 91,317 | ||||||
| Evolve Vacation Rental Network, Inc., Series 8 (Acquired 3/29/18-6/15/18, Cost $44,816) (a) (d) (e) (f) | 5,266 | 101,897 | ||||||
| Evolve Vacation Rental Network, Inc., Series 9 (Acquired 5/29/20, Cost $20,111) (a) (d) (e) (f) | 3,470 | 67,145 | ||||||
| Minted, Inc., Series E (Acquired 10/30/18, Cost $113,257) (a) (d) (e) (f) | 8,410 | 71,737 | ||||||
| SecurityScorecard, Inc., Series E (Acquired 3/05/21, Cost $262,495) (a) (d) (e) (f) | 51,969 | 265,042 | ||||||
| 597,138 | ||||||||
| 597,138 | ||||||||
| Consumer, Cyclical — 0.0% | ||||||||
| Auto Manufacturers — 0.0% | ||||||||
| Nuro, Inc., Series C, (Acquired 10/30/20-3/02/21, Cost $282,254) (a) (d) (e) (f) | 21,621 | 134,050 | ||||||
| Nuro, Inc., Series D, (Acquired 10/29/21, Cost $252,025) (a) (d) (e) (f) | 12,090 | 74,958 | ||||||
| 209,008 | ||||||||
| Leisure Time — 0.0% | ||||||||
| Rad Power Bikes, Inc., Series C, (Acquired 1/22/21, Cost $69,082) (a) (d) (e) (f) | 14,321 | 33,082 | ||||||
| Rad Power Bikes, Inc., Series D, (Acquired 9/16/21, Cost $107,722) (a) (d) (e) (f) | 11,240 | 47,433 | ||||||
| 80,515 | ||||||||
| Retail — 0.0% | ||||||||
| OfferUp, Inc., Series F, (Acquired 7/01/20, Cost $9,217) (a) (d) (e) (f) | 4,025 | 2,777 | ||||||
| Consumer, Non-cyclical — 0.6% | ||||||||
| Agriculture — 0.1% | ||||||||
| Farmer's Business Network, Inc., Series E, (Acquired 2/11/19, Cost $191,081) (a) (d) (e) (f) | 8,198 | 410,146 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Farmer's Business Network, Inc., Series F, (Acquired 7/31/20, Cost $172,258) (a) (d) (e) (f) | 5,211 | $ | 260,706 | |||||
| 670,852 | ||||||||
| 670,852 | ||||||||
| Biotechnology — 0.3% | ||||||||
| Genesis Therapeutics, Inc., Series A, (Acquired 11/24/20, Cost $25,262) (a) (d) (e) (f) | 4,946 | 25,262 | ||||||
| Inscripta, Inc., Series E, (Acquired 3/30/21, Cost $148,812) (a) (d) (e) (f) | 16,853 | 49,042 | ||||||
| Insitro, Inc., Series B, (Acquired 5/21/20, Cost $34,456) (a) (d) (e) (f) | 5,530 | 101,150 | ||||||
| Insitro, Inc., Series C, (Acquired 4/07/21, Cost $62,208) (a) (d) (e) (f) | 3,401 | 62,208 | ||||||
| Kardium, Inc., Series D-5, (Acquired 11/29/18, Cost $29,906) (a) (d) (e) (f) | 30,866 | 31,355 | ||||||
| Kardium, Inc., Series D-6, (Acquired 1/08/21, Cost $145,349) (a) (d) (e) (f) | 143,083 | 145,349 | ||||||
| Laronde, Inc., Series B, (Acquired 7/28/21, Cost $109,340) (a) (d) (e) (f) | 3,905 | 21,868 | ||||||
| National Resilience, Inc., Series B, (Acquired 10/23/20, Cost $263,720) (a) (d) (e) (f) | 19,306 | 1,172,453 | ||||||
| National Resilience, Inc., Series C, (Acquired 6/09/21, Cost $315,045) (a) (d) (e) (f) | 7,094 | 430,819 | ||||||
| Tessera Therapeutics, Inc., Series C, (Acquired 2/25/22, Cost $34,499) (a) (d) (e) (f) | 1,687 | 34,499 | ||||||
| Treeline Biosciences, Inc., Series A, (Acquired 4/09/21, Cost $40,640) (a) (d) (e) (f) | 5,192 | 40,640 | ||||||
| 2,114,645 | ||||||||
| 2,114,645 | ||||||||
| Commercial Services — 0.0% | ||||||||
| Honor Technology, Inc., Series D, (Acquired 10/16/20, Cost $225,290) (a) (d) (e) (f) | 93,556 | 101,976 | ||||||
| Honor Technology, Inc., Series E, (Acquired 9/29/21, Cost $116,646) (a) (d) (e) (f) | 36,897 | 40,218 | ||||||
| Redwood Materials, Inc., Series C, (Acquired 5/28/21, Cost $214,074) (a) (d) (e) (f) | 4,516 | 215,575 | ||||||
| 357,769 | ||||||||
| 357,769 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Cleerly, Inc. Series C, (Acquired 7/08/22, Cost $200,211) (a) (d) (e) (f) | 16,995 | 200,211 | ||||||
| Ring Therapeutics, Inc., Series B, (Acquired 4/12/21, Cost $50,885) (a) (d) (e) (f) | 5,531 | 50,885 | ||||||
| Tempus Labs, Inc., Series D, (Acquired 3/16/18, Cost $21,326) (a) (d) (e) (f) | 2,275 | 89,590 | ||||||
| Tempus Labs, Inc., Series E, (Acquired 8/23/18, Cost $29,149) (a) (d) (e) (f) | 1,741 | 72,112 | ||||||
| Tempus Labs, Inc., Series F, (Acquired 4/30/19, Cost $17,059) (a) (d) (e) (f) | 689 | 29,420 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Tempus Labs, Inc., Series G, (Acquired 2/06/20, Cost $19,176) (a) (d) (e) (f) | 500 | $ | 22,100 | |||||
| Tempus Labs, Inc., Series G-2, (Acquired 11/19/20, Cost $26,075) (a) (d) (e) (f) | 455 | 16,407 | ||||||
| 480,725 | ||||||||
| 480,725 | ||||||||
| Health Care – Services — 0.1% | ||||||||
| Caris Life Sciences, Inc., Series C, (Acquired 8/14/20, Cost $125,312) (a) (d) (e) (f) | 45,403 | 242,906 | ||||||
| Caris Life Sciences, Inc., Series D, (Acquired 5/11/21, Cost $378,132) (a) (d) (e) (f) | 46,683 | 249,754 | ||||||
| 492,660 | ||||||||
| 492,660 | ||||||||
| Pharmaceuticals — 0.0% | ||||||||
| Capsule, Corp., Series 1 D, (Acquired 4/07/21, Cost $72,328) (a) (d) (e) (f) | 4,991 | 14,631 | ||||||
| Haul Hub, Inc., Series B, (Acquired 2/14/20-3/03/21, Cost $108,854) (a) (d) (e) (f) | 7,466 | 90,264 | ||||||
| Haul Hub, Inc., Series C, (Acquired 4/14/22, Cost $43,061) (a) (d) (e) (f) | 2,282 | 27,589 | ||||||
| 132,484 | ||||||||
| 132,484 | ||||||||
| 4,249,135 | ||||||||
| Financial — 0.1% | ||||||||
| Banks — 0.0% | ||||||||
| CRB Group, Inc., Series D, (Acquired 1/28/22, Cost $255,280) (a) (d) (e) (f) | 2,428 | 187,830 | ||||||
| Diversified Financial Services — 0.1% | ||||||||
| Color Health, Inc., Series D, (Acquired 12/17/20, Cost $43,490) (a) (d) (e) (f) | 1,155 | 47,240 | ||||||
| Color Health, Inc., Series D-1, (Acquired 1/13/20, Cost $56,632) (a) (d) (e) (f) | 2,655 | 108,590 | ||||||
| Color Health, Inc., Series E, (Acquired 10/26/21, Cost $15,095) (a) (d) (e) (f) | 151 | 6,176 | ||||||
| Convoy, Inc., Series C, (Acquired 9/14/18, Cost $127,740) (a) (d) (e) (f) | 17,990 | 93,188 | ||||||
| Convoy, Inc., Series D, (Acquired 10/30/19, Cost $417,858) (a) (d) (e) (f) | 30,861 | 159,860 | ||||||
| Convoy, Inc., Series E, (Acquired 9/30/21, Cost $72,706) (a) (d) (e) (f) | 4,407 | 22,828 | ||||||
| Stash Financial, Inc., Series F, (Acquired 4/24/20, Cost $126,801) (a) (d) (e) (f) | 5,060 | 73,724 | ||||||
| Stash Financial, Inc., Series G, (Acquired 1/26/21, Cost $174,908) (a) (d) (e) (f) | 4,667 | 67,998 | ||||||
| 579,604 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Insurance — 0.0% | ||||||||
| Go Maps, Inc., Series B-1, (Acquired 5/15/19-7/29/20, Cost $9,665) (a) (d) (e) (f) | 755 | $ | 3,767 | |||||
| Investment Companies — 0.0% | ||||||||
| Maplebear, Inc., Series E, (Acquired 11/19/21, Cost $348,680) (a) (d) (e) (f) | 2,900 | 94,250 | ||||||
| Maplebear, Inc., Series I, (Acquired 2/26/21, Cost $58,500) (a) (d) (e) (f) | 468 | 15,210 | ||||||
| 109,460 | ||||||||
| 880,661 | ||||||||
| Industrial — 0.2% | ||||||||
| Aerospace & Defense — 0.0% | ||||||||
| ABL Space Systems Company, Series B (Acquired 3/24/21, Cost $328,985) (a) (d) (e) (f) | 7,305 | 234,564 | ||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| CelLink, Inc., Series D (Acquired 1/20/22, Cost $223,836) (a) (d) (e) (f) | 10,749 | 143,069 | ||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $505,509) (a) (d) (e) (f) | 12,248 | 248,389 | ||||||
| 391,458 | ||||||||
| Electronics — 0.1% | ||||||||
| Sartorius AG 0.4538% | 2,515 | 862,455 | ||||||
| 1,488,477 | ||||||||
| Technology — 0.5% | ||||||||
| Computers — 0.0% | ||||||||
| Coalition, Inc., Series E (Acquired 9/07/21, Cost $253,711) (a) (d) (e) (f) | 15,355 | 259,192 | ||||||
| Mesosphere, Inc., Series D (Acquired 5/04/18, Cost $72,584) (a) (d) (e) (f) | 6,566 | 4,071 | ||||||
| 263,263 | ||||||||
| Software — 0.5% | ||||||||
| Checkr, Inc., Series C (Acquired 4/10/18, Cost $106,628) (a) (d) (e) (f) | 23,433 | 126,538 | ||||||
| Checkr, Inc., Series D (Acquired 9/06/19, Cost $308,786) (a) (d) (e) (f) | 30,627 | 165,386 | ||||||
| Databricks, Inc., Series F (Acquired 10/22/19, Cost $104,923) (a) (d) (e) (f) | 7,329 | 536,190 | ||||||
| Databricks, Inc., Series G (Acquired 2/01/21, Cost $50,195) (a) (d) (e) (f) | 849 | 62,113 | ||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $114,856) (a) (d) (e) (f) | 1,563 | 114,349 | ||||||
| DTX Company, Series A-1 (Acquired 2/04/22, Cost $31,212) (a) (d) (e) (f) | 17,154 | 4,803 | ||||||
| Eikon Therapeutics, Inc., Series B (Acquired 12/03/21, Cost $89,186) (a) (d) (e) (f) | 5,042 | 108,398 | ||||||
| Epirus, Inc., Series C-2 (Acquired 1/28/21, Cost $324,592) (a) (d) (e) (f) | 58,131 | 292,399 | ||||||
| Flexe, Inc., Series C (Acquired 11/18/20, Cost $134,849) (a) (d) (e) (f) | 11,083 | 199,272 | ||||||
| Flexe, Inc., Series D (Acquired 4/07/22, Cost $73,849) (a) (d) (e) (f) | 3,621 | 65,106 | ||||||
| Gusto, Inc., Series B (Acquired 8/18/20, Cost $49,238) (a) (d) (e) (f) | 3,644 | 68,617 | ||||||
| Gusto, Inc., Series B-2 (Acquired 8/18/20, Cost $91,936) (a) (d) (e) (f) | 6,804 | 128,119 | ||||||
| Gusto, Inc., Series C (Acquired 7/16/18, Cost $84,209) (a) (d) (e) (f) | 11,076 | 208,561 | ||||||
| Gusto, Inc., Series D (Acquired 7/16/19, Cost $187,638) (a) (d) (e) (f) | 14,095 | 265,409 | ||||||
| JetClosing, Inc., Series A (Acquired 5/25/18, Cost $22,781) (a) (d) (e) (f) | 11,678 | — | ||||||
| JetClosing, Inc., Series B-1 (Acquired 7/13/20-2/25/21, Cost $36,276) (a) (d) (e) (f) | 27,130 | — | ||||||
| JetClosing, Inc., Series B-2 (Acquired 2/06/20, Cost $5,769) (a) (d) (e) (f) | 5,185 | — | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| KoBold Metals, Inc., Series B-1 (Acquired 1/10/22, Cost $244,807) (a) (d) (e) (f) | 8,931 | $ | 382,080 | |||||
| Seismic Software, Inc., Series E (Acquired 12/13/18, Cost $117,981) (a) (d) (e) (f) | 18,715 | 159,639 | ||||||
| Seismic Software, Inc., Series F (Acquired 9/25/20, Cost $18,592) (a) (d) (e) (f) | 2,115 | 18,041 | ||||||
| ServiceTitan, Inc., Series A-1 (Acquired 11/09/18, Cost $263) (a) (d) (e) (f) | 10 | 729 | ||||||
| ServiceTitan, Inc., Series D (Acquired 11/09/18, Cost $124,743) (a) (d) (e) (f) | 4,744 | 345,885 | ||||||
| ServiceTitan, Inc., Series E (Acquired 4/23/20, Cost $7,435) (a) (d) (e) (f) | 220 | 16,040 | ||||||
| ServiceTitan, Inc., Series F (Acquired 3/25/21, Cost $25,650) (a) (d) (e) (f) | 239 | 17,425 | ||||||
| Socure, Inc., Series A (Acquired 12/22/21, Cost $75,555) (a) (d) (e) (f) | 4,702 | 35,171 | ||||||
| Socure, Inc., Series A-1 (Acquired 12/22/21, Cost $62,025) (a) (d) (e) (f) | 3,860 | 28,873 | ||||||
| Socure, Inc., Series B (Acquired 12/22/21, Cost $1,109) (a) (d) (e) (f) | 69 | 516 | ||||||
| Socure, Inc., Series E (Acquired 10/27/21, Cost $143,750) (a) (d) (e) (f) | 8,946 | 66,916 | ||||||
| Themis Solutions, Inc., Series AA (Acquired 4/14/21, Cost $24,473) (a) (d) (e) (f) | 1,090 | 19,424 | ||||||
| Themis Solutions, Inc., Series AB (Acquired 4/14/21, Cost $2,694) (a) (d) (e) (f) | 120 | 2,138 | ||||||
| Themis Solutions, Inc., Series B (Acquired 4/14/21, Cost $2,694) (a) (d) (e) (f) | 120 | 2,138 | ||||||
| Themis Solutions, Inc., Series E (Acquired 4/14/21, Cost $309,164) (a) (d) (e) (f) | 13,770 | 245,381 | ||||||
| 3,685,656 | ||||||||
| 3,948,919 | ||||||||
| TOTAL PREFERRED STOCK (Cost $11,415,701) | 11,456,630 | |||||||
| TOTAL EQUITIES (Cost $663,820,399) | 743,652,295 | |||||||
| Principal Amount | ||||||||
| BONDS & NOTES — 0.0% | ||||||||
| CORPORATE DEBT — 0.0% | ||||||||
| Diversified Financial Services — 0.0% | ||||||||
| PRA Group, Inc. | ||||||||
| 5.000% 10/01/29 (b) | $ | 18,000 | 13,625 | |||||
| 7.375% 9/01/25 (b) | 83,000 | 78,901 | ||||||
| 92,526 | ||||||||
| TOTAL CORPORATE DEBT (Cost $91,730) | 92,526 | |||||||
| TOTAL BONDS & NOTES (Cost $91,730) | 92,526 | |||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| WARRANTS — 0.0% | ||||||||
| Communications — 0.0% | ||||||||
| Advertising — 0.0% | ||||||||
| Advantage Solutions, Inc., Expires 10/28/25, Strike 11.5 (a) | 3,668 | $ | 477 | |||||
| Consumer, Non-cyclical — 0.0% | ||||||||
| Pharmaceuticals — 0.0% | ||||||||
| EQRx, Inc., (a) | 1,166 | 187 | ||||||
| Financial — 0.0% | ||||||||
| Banks — 0.0% | ||||||||
| Dogwood State Bank (Acquired 5/06/19, Cost $0) (a) (d) (e) (f) | 800 | 8,328 | ||||||
| Diversified Financial Services — 0.0% | ||||||||
| Grasshopper Bancorp, Inc. (Acquired 10/15/18, Cost $0) (a) (d) (e) (f) | 1,432 | 229 | ||||||
| Insurance — 0.0% | ||||||||
| Hagerty, Inc. (a) (d) (f) | 3,040 | 6,387 | ||||||
| 14,944 | ||||||||
| TOTAL WARRANTS (Cost $11,320) | 15,608 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $663,923,449) | 743,760,429 | |||||||
| SHORT-TERM INVESTMENTS — 4.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 1,700,611 | 1,700,611 | ||||||
| Mutual Fund — 3.6% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 27,645,353 | 27,645,353 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (h) | $ | 1,447,304 | 1,447,304 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $30,793,268) | 30,793,268 | |||||||
| TOTAL INVESTMENTS — 100.3% (Cost $694,716,717) (i) | 774,553,697 | |||||||
| Other Assets/(Liabilities) — (0.3)% | (2,250,033) | |||||||
| NET ASSETS — 100.0% | $ | 772,303,664 | ||||||
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) | 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 June 30, 2023, the aggregate market value of these securities amounted to $324,290 or 0.04% of net assets. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of June 30, 2023, was $11,666,968 or 1.51% of net assets. The Fund received $10,311,089 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). |
| (d) | Investment is valued using significant unobservable inputs. |
| (e) | Restricted security. Certain securities are restricted as to resale. At June 30, 2023, these securities amounted to a value of $16,110,822 or 2.09% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (f) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At June 30, 2023, these securities amounted to a value of $16,117,209 or 2.09% of net assets. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $1,447,487. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $1,476,338. |
| (i) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 97.6% | ||||||||
| U.S. Government Agency Obligations and Instrumentalities (a) — 0.4% | ||||||||
| Collateralized Mortgage Obligations — 0.1% | ||||||||
| Government National Mortgage Association Series 2020-7, Class KE 2.500% 1/20/50 | $ | 167,224 | $ | 145,760 | ||||
| Pass-Through Securities — 0.3% | ||||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA4484 3.000% 6/20/32 | 116,277 | 109,847 | ||||||
| Pool #MA6381 3.000% 1/20/35 | 62,501 | 58,576 | ||||||
| Pool #MA6630 3.000% 5/20/35 | 28,920 | 27,004 | ||||||
| Pool #MA4588 4.500% 7/20/47 | 100,939 | 99,410 | ||||||
| Pool #MA4781 5.000% 10/20/47 | 45,608 | 45,913 | ||||||
| Pool #MA4840 5.000% 11/20/47 | 35,929 | 36,159 | ||||||
| Pool #MA5653 5.000% 12/20/48 | 111,100 | 110,803 | ||||||
| Pool #MA5820 5.500% 3/20/49 | 14,996 | 15,191 | ||||||
| 502,903 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $713,321) | 648,663 | |||||||
| U.S. TREASURY OBLIGATIONS — 97.2% | ||||||||
| U.S. Treasury Bonds & Notes — 97.2% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 1.125% 5/15/40 | 2,790,000 | 1,806,073 | ||||||
| 1.125% 8/15/40 | 5,170,000 | 3,320,227 | ||||||
| 1.250% 5/15/50 | 659,300 | 370,241 | ||||||
| 1.375% 11/15/40 | 6,110,000 | 4,083,149 | ||||||
| 1.375% 8/15/50 | 4,585,000 | 2,661,034 | ||||||
| 1.625% 11/15/50 | 3,580,000 | 2,219,612 | ||||||
| 1.750% 8/15/41 | 6,940,000 | 4,871,281 | ||||||
| 1.875% 2/15/41 | 7,480,000 | 5,424,535 | ||||||
| 1.875% 2/15/51 | 5,115,000 | 3,381,594 | ||||||
| 1.875% 11/15/51 | 4,775,000 | 3,146,989 | ||||||
| 2.000% 11/15/41 | 7,760,000 | 5,673,576 | ||||||
| 2.000% 2/15/50 (b) | 3,535,000 | 2,420,597 | ||||||
| 2.000% 8/15/51 | 3,700,000 | 2,517,605 | ||||||
| 2.250% 5/15/41 | 7,690,000 | 5,916,802 | ||||||
| 2.250% 8/15/49 | 2,550,000 | 1,851,789 | ||||||
| 2.250% 2/15/52 | 11,895,000 | 8,583,773 | ||||||
| 2.375% 2/15/42 | 4,495,000 | 3,497,758 | ||||||
| 2.375% 11/15/49 | 2,220,000 | 1,656,201 | ||||||
| 2.375% 5/15/51 | 2,440,000 | 1,811,294 | ||||||
| 2.875% 5/15/49 | 2,480,000 | 2,048,884 | ||||||
| 2.875% 5/15/52 | 3,985,000 | 3,297,352 | ||||||
| 3.000% 2/15/49 | 2,480,000 | 2,096,038 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.000% 8/15/52 | $ | 5,555,000 | $ | 4,716,176 | ||||
| 3.250% 5/15/42 | 1,945,000 | 1,733,817 | ||||||
| 3.375% 8/15/42 | 5,560,000 | 5,041,919 | ||||||
| 3.375% 11/15/48 | 2,330,000 | 2,103,140 | ||||||
| 3.625% 2/15/53 | 14,910,000 | 14,289,236 | ||||||
| 3.625% 5/15/53 | 8,925,000 | 8,585,450 | ||||||
| 3.875% 2/15/43 | 23,040,000 | 22,446,870 | ||||||
| 3.875% 5/15/43 | 9,120,000 | 8,904,696 | ||||||
| 4.000% 11/15/42 | 7,395,000 | 7,342,717 | ||||||
| 4.000% 11/15/52 | 3,958,700 | 4,060,517 | ||||||
| 151,880,942 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $183,687,495) | 151,880,942 | |||||||
| TOTAL BONDS & NOTES (Cost $184,400,816) | 152,529,605 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $184,400,816) | 152,529,605 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 1.5% | ||||||||
| Mutual Fund — 0.9% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 1,458,203 | 1,458,203 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.6% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 6/30/23, 1.520%, due 7/03/23 (c) | $ | 924,064 | 924,064 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,382,267) | 2,382,267 | |||||||
| TOTAL INVESTMENTS — 99.1% (Cost $186,783,083) (d) | 154,911,872 | |||||||
| Other Assets/(Liabilities) — 0.9% | 1,368,422 | |||||||
| NET ASSETS — 100.0% | $ | 156,280,294 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (b) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (c) | Maturity value of $924,181. Collateralized by U.S. Government Agency obligations with a rate of 4.250%, maturity date of 10/15/25, and an aggregate market value, including accrued interest, of $942,625. |
| (d) | See Note 3 for aggregate cost for federal tax purposes. |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Ultra Bond | 9/20/23 | 23 | $ | 3,133,318 | $ | (287) | ||||||||
| MassMutual Select T. Rowe Price Retirement Balanced Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 39.9% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,933,875 | $ | 20,189,651 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 2,401,273 | 29,943,873 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 309,910 | 3,421,409 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 831,384 | 10,076,379 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 449,323 | 6,820,727 | ||||||
| 70,452,039 | ||||||||
| Fixed Income Funds — 60.1% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 4,273,311 | 36,066,744 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 987,940 | 7,350,272 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 3,708,849 | 33,676,352 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 1,144,345 | 6,248,122 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 6,917,842 | 6,917,842 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 845,688 | 6,731,675 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 287,925 | 2,683,457 | ||||||
| T. Rowe Price Institutional High Yield Fund | 878,060 | 6,603,011 | ||||||
| 106,277,475 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $197,781,333) | 176,729,514 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $197,781,333) | 176,729,514 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $197,781,333) (b) | 176,729,514 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (64,458) | |||||||
| NET ASSETS — 100.0% | $ | 176,665,056 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2005 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 42.4% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 228,758 | $ | 2,388,230 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 287,152 | 3,580,786 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 37,722 | 416,453 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 98,995 | 1,199,819 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 53,979 | 819,404 | ||||||
| 8,404,692 | ||||||||
| Fixed Income Funds — 57.6% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 476,003 | 4,017,464 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 104,843 | 780,032 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 355,216 | 3,225,362 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 133,736 | 730,201 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 879,472 | 879,472 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 94,815 | 754,725 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 32,012 | 298,350 | ||||||
| T. Rowe Price Institutional High Yield Fund | 96,396 | 724,902 | ||||||
| 11,410,508 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $21,660,207) | 19,815,200 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $21,660,207) | 19,815,200 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $21,660,207) (b) | 19,815,200 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (7,417) | |||||||
| NET ASSETS — 100.0% | $ | 19,807,783 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2010 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 46.0% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,289,355 | $ | 13,460,868 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 1,614,405 | 20,131,625 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 208,771 | 2,304,827 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 561,800 | 6,809,019 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 303,853 | 4,612,493 | ||||||
| 47,318,832 | ||||||||
| Fixed Income Funds — 54.0% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 2,374,328 | 20,039,330 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 523,208 | 3,892,669 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,621,319 | 14,721,572 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 687,864 | 3,755,738 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 4,339,053 | 4,339,053 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 474,521 | 3,777,184 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 157,592 | 1,468,759 | ||||||
| T. Rowe Price Institutional High Yield Fund | 473,146 | 3,558,059 | ||||||
| 55,552,364 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $115,435,685) | 102,871,196 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $115,435,685) | 102,871,196 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $115,435,685) (b) | 102,871,196 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (40,717) | |||||||
| NET ASSETS — 100.0% | $ | 102,830,479 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2015 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 49.0% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,496,898 | $ | 15,627,616 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 1,867,351 | 23,285,861 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 238,304 | 2,630,875 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 646,511 | 7,835,712 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 328,507 | 4,986,742 | ||||||
| 54,366,806 | ||||||||
| Fixed Income Funds — 51.0% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 2,487,322 | 20,993,000 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 531,413 | 3,953,715 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,510,598 | 13,716,232 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 736,443 | 4,020,978 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 4,735,912 | 4,735,912 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 498,782 | 3,970,307 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 164,096 | 1,529,370 | ||||||
| T. Rowe Price Institutional High Yield Fund | 492,101 | 3,700,600 | ||||||
| 56,620,114 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $123,308,165) | 110,986,920 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $123,308,165) | 110,986,920 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $123,308,165) (b) | 110,986,920 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (35,465) | |||||||
| NET ASSETS — 100.0% | $ | 110,951,455 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2020 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 52.4% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 7,574,027 | $ | 79,072,844 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 9,499,404 | 118,457,567 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,192,181 | 13,161,681 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 3,263,413 | 39,552,569 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,566,433 | 23,778,449 | ||||||
| 274,023,110 | ||||||||
| Fixed Income Funds — 47.6% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 11,232,833 | 94,805,110 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 2,359,127 | 17,551,902 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 5,998,164 | 54,463,332 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 3,438,222 | 18,772,693 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 21,823,817 | 21,823,817 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 2,255,494 | 17,953,736 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 729,037 | 6,794,627 | ||||||
| T. Rowe Price Institutional High Yield Fund | 2,200,057 | 16,544,427 | ||||||
| 248,709,644 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $572,597,970) | 522,732,754 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $572,597,970) | 522,732,754 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $572,597,970) (b) | 522,732,754 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (241,891) | |||||||
| NET ASSETS — 100.0% | $ | 522,490,863 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2025 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 58.8% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 8,911,408 | $ | 93,035,096 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 11,384,487 | 141,964,557 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,404,477 | 15,505,428 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 3,882,319 | 47,053,708 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,921,014 | 29,160,992 | ||||||
| 326,719,781 | ||||||||
| Fixed Income Funds — 41.2% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 10,796,530 | 91,122,714 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 2,021,895 | 15,042,896 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 4,537,627 | 41,201,650 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 3,743,190 | 20,437,816 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 22,963,780 | 22,963,780 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 2,174,622 | 17,309,993 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 649,695 | 6,055,160 | ||||||
| T. Rowe Price Institutional High Yield Fund | 2,007,863 | 15,099,130 | ||||||
| 229,233,139 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $609,862,984) | 555,952,920 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $609,862,984) | 555,952,920 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $609,862,984) (b) | 555,952,920 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (237,043) | |||||||
| NET ASSETS — 100.0% | $ | 555,715,877 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2030 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 69.5% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 25,401,161 | $ | 265,188,117 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 32,227,764 | 401,880,214 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 4,045,724 | 44,664,789 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 11,026,663 | 133,643,150 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 5,638,082 | 85,586,081 | ||||||
| 930,962,351 | ||||||||
| Fixed Income Funds — 30.5% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 21,208,519 | 178,999,900 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 3,202,610 | 23,827,415 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 4,019,688 | 36,498,766 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 9,136,520 | 49,885,401 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 50,140,455 | 50,140,455 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 4,188,528 | 33,340,683 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 1,105,870 | 10,306,708 | ||||||
| T. Rowe Price Institutional High Yield Fund | 3,447,380 | 25,924,300 | ||||||
| 408,923,628 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,412,540,419) | 1,339,885,979 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,412,540,419) | 1,339,885,979 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,412,540,419) (b) | 1,339,885,979 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (662,433) | |||||||
| NET ASSETS — 100.0% | $ | 1,339,223,546 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2035 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 80.6% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 16,105,227 | $ | 168,138,572 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 20,457,504 | 255,105,075 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 2,595,227 | 28,651,307 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 6,974,666 | 84,532,950 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 3,927,144 | 59,614,044 | ||||||
| 596,041,948 | ||||||||
| Fixed Income Funds — 19.4% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 7,921,899 | 66,860,830 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 907,987 | 6,755,426 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 5,938 | 53,914 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 4,097,505 | 22,372,377 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 23,426,761 | 23,426,761 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 1,557,849 | 12,400,475 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 347,223 | 3,236,122 | ||||||
| T. Rowe Price Institutional High Yield Fund | 1,114,233 | 8,379,033 | ||||||
| 143,484,938 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $778,153,327) | 739,526,886 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $778,153,327) | 739,526,886 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $778,153,327) (b) | 739,526,886 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (348,346) | |||||||
| NET ASSETS — 100.0% | $ | 739,178,540 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2040 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 89.8% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 30,610,490 | $ | 319,573,515 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 38,501,348 | 480,111,806 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 4,944,875 | 54,591,415 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 13,119,351 | 159,006,534 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 7,670,646 | 116,440,405 | ||||||
| 1,129,723,675 | ||||||||
| Fixed Income Funds — 10.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 6,408,314 | 54,086,167 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 371,439 | 2,763,506 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 26,617 | 241,681 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 3,860,468 | 21,078,157 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 34,047,096 | 34,047,096 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 1,229,220 | 9,784,593 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 207,599 | 1,934,822 | ||||||
| T. Rowe Price Institutional High Yield Fund | 756,648 | 5,689,994 | ||||||
| 129,626,016 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,294,487,626) | 1,259,349,691 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,294,487,626) | 1,259,349,691 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $1,294,487,626) (b) | 1,259,349,691 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (650,091) | |||||||
| NET ASSETS — 100.0% | $ | 1,258,699,600 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2045 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 95.2% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 15,545,743 | $ | 162,297,553 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 19,637,412 | 244,878,528 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 2,524,155 | 27,866,673 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 6,626,706 | 80,315,677 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 3,891,666 | 59,075,484 | ||||||
| 574,433,915 | ||||||||
| Fixed Income Funds — 4.8% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 1,081,580 | 9,128,534 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 7,470 | 67,827 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 854,970 | 4,668,138 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 13,952,603 | 13,952,603 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 193,127 | 1,537,293 | ||||||
| 29,354,395 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $624,805,227) | 603,788,310 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $624,805,227) | 603,788,310 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $624,805,227) (b) | 603,788,310 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (292,402) | |||||||
| NET ASSETS — 100.0% | $ | 603,495,908 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2050 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 96.8% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 23,357,943 | $ | 243,856,924 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 29,514,147 | 368,041,413 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 3,798,095 | 41,930,970 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 9,933,216 | 120,390,576 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 5,932,469 | 90,054,879 | ||||||
| 864,274,762 | ||||||||
| Fixed Income Funds — 3.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 624,894 | 5,274,106 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 11,669 | 105,955 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 504,210 | 2,752,985 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 20,237,772 | 20,237,772 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 113,186 | 900,961 | ||||||
| 29,271,779 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $914,555,983) | 893,546,541 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $914,555,983) | 893,546,541 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $914,555,983) (b) | 893,546,541 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (472,914) | |||||||
| NET ASSETS — 100.0% | $ | 893,073,627 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2055 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 97.3% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 10,283,886 | $ | 107,363,771 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 12,979,445 | 161,853,684 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,667,270 | 18,406,661 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 4,398,902 | 53,314,690 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 2,574,010 | 39,073,471 | ||||||
| 380,012,277 | ||||||||
| Fixed Income Funds — 2.7% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 256,025 | 2,160,852 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 2,508 | 22,773 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 198,171 | 1,082,014 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 6,932,088 | 6,932,088 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 51,148 | 407,137 | ||||||
| 10,604,864 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $405,539,646) | 390,617,141 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $405,539,646) | 390,617,141 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $405,539,646) (b) | 390,617,141 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (192,037) | |||||||
| NET ASSETS — 100.0% | $ | 390,425,104 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2060 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 97.4% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 5,508,089 | $ | 57,504,447 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 6,955,886 | 86,739,900 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 898,935 | 9,924,239 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 2,349,238 | 28,472,766 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,389,088 | 21,086,354 | ||||||
| 203,727,706 | ||||||||
| Fixed Income Funds — 2.7% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 144,605 | 1,220,467 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,207 | 10,958 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 104,652 | 571,399 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 3,655,917 | 3,655,917 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 26,059 | 207,431 | ||||||
| 5,666,172 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $218,381,070) | 209,393,878 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $218,381,070) | 209,393,878 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $218,381,070) (b) | 209,393,878 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (106,050) | |||||||
| NET ASSETS — 100.0% | $ | 209,287,828 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2065 Fund — Portfolio of Investments |
June 30, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 99.9% | ||||||||
| Equity Funds — 97.2% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 27,858 | $ | 290,838 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 35,203 | 438,980 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 4,541 | 50,131 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 11,841 | 143,516 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 7,104 | 107,835 | ||||||
| 1,031,300 | ||||||||
| Fixed Income Funds — 2.7% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 704 | 5,943 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 534 | 2,914 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 19,230 | 19,230 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 137 | 1,092 | ||||||
| 29,179 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,016,185) | 1,060,479 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,016,185) | 1,060,479 | |||||||
| TOTAL INVESTMENTS — 99.9% (Cost $1,016,185) (b) | 1,060,479 | |||||||
| Other Assets/(Liabilities) — 0.1% | 840 | |||||||
| NET ASSETS — 100.0% | $ | 1,061,319 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| Notes to Portfolio of Investments (Unaudited) |
1. The Funds
MassMutual Select Funds (the “Trust”) is registered under the Investment Company Act of 1940, as amended, 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 May 28, 1993, as amended and restated as of November 21, 2011, as it may be further amended from time to time. As of June 30, 2023, the Trust consists of the following series (each individually referred to as a “Fund” or collectively as the “Funds”):
MassMutual Total Return Bond Fund (“Total Return Bond Fund”)
MassMutual Strategic Bond Fund (“Strategic Bond Fund”)
MassMutual Diversified Value Fund (“Diversified Value Fund”)
MassMutual Fundamental Value Fund (“Fundamental Value Fund”)
MM S&P 500® Index Fund (“S&P 500 Index Fund”)
MassMutual Equity Opportunities Fund (“Equity Opportunities Fund”)
MassMutual Fundamental Growth Fund (“Fundamental Growth Fund”)
MassMutual Blue Chip Growth Fund (“Blue Chip Growth Fund”)
MassMutual Growth Opportunities Fund (“Growth Opportunities Fund”)
MassMutual Mid Cap Value Fund (“Mid Cap Value Fund”)
MassMutual Small Cap Value Equity Fund (“Small Cap Value Equity Fund”)
MassMutual Small Company Value Fund (“Small Company Value Fund”)
MassMutual Mid Cap Growth Fund (“Mid Cap Growth Fund”)
MassMutual Small Cap Growth Equity Fund (“Small Cap Growth Equity Fund”)
MassMutual Overseas Fund (“Overseas Fund”)
MassMutual Select T. Rowe Price International Equity Fund (“MM Select T. Rowe Price International Equity Fund”)
MassMutual 20/80 Allocation Fund (“20/80 Allocation Fund”)
MassMutual 40/60 Allocation Fund (“40/60 Allocation Fund”)
MassMutual 60/40 Allocation Fund (“60/40 Allocation Fund”)
MassMutual 80/20 Allocation Fund (“80/20 Allocation Fund”)
MassMutual RetireSMARTSM by JPMorgan In Retirement Fund (“MM RetireSMART by JPMorgan In Retirement Fund”)
MassMutual RetireSMARTSM by JPMorgan 2020 Fund (“MM RetireSMART by JPMorgan 2020 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2025 Fund (“MM RetireSMART by JPMorgan 2025 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2030 Fund (“MM RetireSMART by JPMorgan 2030 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2035 Fund (“MM RetireSMART by JPMorgan 2035 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2040 Fund (“MM RetireSMART by JPMorgan 2040 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2045 Fund (“MM RetireSMART by JPMorgan 2045 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2050 Fund (“MM RetireSMART by JPMorgan 2050 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2055 Fund (“MM RetireSMART by JPMorgan 2055 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2060 Fund (“MM RetireSMART by JPMorgan 2060 Fund”)
MassMutual RetireSMARTSM by JPMorgan 2065 Fund (“MM RetireSMART by JPMorgan 2065 Fund”)
MM Equity Asset Fund (“Equity Asset Fund”)
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MassMutual Select T. Rowe Price Bond Asset Fund (“MM Select T. Rowe Price Bond Asset Fund”)
MassMutual Select T. Rowe Price Emerging Markets Bond Fund (“MM Select T. Rowe Price Emerging Markets Bond Fund”)
MassMutual Select T. Rowe Price Large Cap Blend Fund (“MM Select T. Rowe Price Large Cap Blend Fund”)
MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund (“MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund”)
MassMutual Select T. Rowe Price Real Assets Fund (“MM Select T. Rowe Price Real Assets Fund”)
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund (“MM Select T. Rowe Price Small and Mid Cap Blend Fund”)
MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund (“MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund”)
MassMutual Select T. Rowe Price Retirement Balanced Fund (“MM Select T. Rowe Price Retirement Balanced Fund”)
MassMutual Select T. Rowe Price Retirement 2005 Fund (“MM Select T. Rowe Price Retirement 2005 Fund”)
MassMutual Select T. Rowe Price Retirement 2010 Fund (“MM Select T. Rowe Price Retirement 2010 Fund”)
MassMutual Select T. Rowe Price Retirement 2015 Fund (“MM Select T. Rowe Price Retirement 2015 Fund”)
MassMutual Select T. Rowe Price Retirement 2020 Fund (“MM Select T. Rowe Price Retirement 2020 Fund”)
MassMutual Select T. Rowe Price Retirement 2025 Fund (“MM Select T. Rowe Price Retirement 2025 Fund”)
MassMutual Select T. Rowe Price Retirement 2030 Fund (“MM Select T. Rowe Price Retirement 2030 Fund”)
MassMutual Select T. Rowe Price Retirement 2035 Fund (“MM Select T. Rowe Price Retirement 2035 Fund”)
MassMutual Select T. Rowe Price Retirement 2040 Fund (“MM Select T. Rowe Price Retirement 2040 Fund”)
MassMutual Select T. Rowe Price Retirement 2045 Fund (“MM Select T. Rowe Price Retirement 2045 Fund”)
MassMutual Select T. Rowe Price Retirement 2050 Fund (“MM Select T. Rowe Price Retirement 2050 Fund”)
MassMutual Select T. Rowe Price Retirement 2055 Fund (“MM Select T. Rowe Price Retirement 2055 Fund”)
MassMutual Select T. Rowe Price Retirement 2060 Fund (“MM Select T. Rowe Price Retirement 2060 Fund”)
MassMutual Select T. Rowe Price Retirement 2065 Fund (“MM Select T. Rowe Price Retirement 2065 Fund”)
The 20/80 Allocation Fund, 40/60 Allocation Fund, 60/40 Allocation Fund, and 80/20 Allocation Fund (the “MM Target Allocation Funds”) invest their investable assets in shares of MassMutual Funds advised by MML Investment Advisers, LLC (“MML Advisers”) and non-affiliated mutual funds (together, the “MM Target Allocation Underlying Funds”).
The MM RetireSMART by JPMorgan In Retirement Fund, MM RetireSMART by JPMorgan 2020 Fund, MM RetireSMART by JPMorgan 2025 Fund, MM RetireSMART by JPMorgan 2030 Fund, MM RetireSMART by JPMorgan 2035 Fund, MM RetireSMART by JPMorgan 2040 Fund, MM RetireSMART by JPMorgan 2045 Fund, MM RetireSMART by JPMorgan 2050 Fund, MM RetireSMART by JPMorgan 2055 Fund, MM RetireSMART by JPMorgan 2060 Fund, and MM RetireSMART by JPMorgan 2065 Fund (the “MM RetireSMART by JPMorgan Funds”) invest their investable assets in shares of MassMutual Funds, J.P. Morgan Funds advised by J.P. Morgan Investment Management Inc. (“J.P. Morgan”) or its affiliates, and non-affiliated mutual funds (together, the “MM RetireSMART by JPMorgan Underlying Funds”).
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The MM Select T. Rowe Price Retirement Balanced Fund, MM Select T. Rowe Price Retirement 2005 Fund, MM Select T. Rowe Price Retirement 2010 Fund, MM Select T. Rowe Price Retirement 2015 Fund, MM Select T. Rowe Price Retirement 2020 Fund, MM Select T. Rowe Price Retirement 2025 Fund, MM Select T. Rowe Price Retirement 2030 Fund, MM Select T. Rowe Price Retirement 2035 Fund, MM Select T. Rowe Price Retirement 2040 Fund, MM Select T. Rowe Price Retirement 2045 Fund, MM Select T. Rowe Price Retirement 2050 Fund, MM Select T. Rowe Price Retirement 2055 Fund, MM Select T. Rowe Price Retirement 2060 Fund, and MM Select T. Rowe Price Retirement 2065 Fund (the “MM Select T. Rowe Price Retirement Funds”) invest their investable assets primarily in shares of MassMutual Funds and T. Rowe Price Funds (together, the “MM Select T. Rowe Price Underlying Funds”). The MM Target Allocation Underlying Funds, MM RetireSMART by JPMorgan Underlying Funds, and MM Select T. Rowe Price Underlying Funds are hereinafter collectively referred to as the (“Underlying 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; instead, MML Advisers will determine the fair value of a Fund’s securities in accordance with MML Advisers’ fair valuation policy and procedures. 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 or an Underlying Fund holds foreign securities that trade on days that foreign securities markets are open.
The net asset value of each of the MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and MM Select T. Rowe Price Retirement Funds is based upon the net asset value(s) of its corresponding Underlying Funds. Shares of the Underlying Funds are valued at their closing net asset values as reported on each business day.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The Prospectuses and Statements of Additional Information (“SAIs”) for the Underlying Funds explain the valuation methods for the Underlying Funds, including the circumstances under which the Underlying Funds may use fair value pricing and the effects of doing so. Such Prospectuses and SAIs are available on the Securities and Exchange Commission’s (“SEC”) EDGAR database on its website at http://www.sec.gov.
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.
The Board of Trustees (“Trustees”) have designated MML Advisers as the Funds’ “valuation designee,” responsible for determining the fair value, in good faith, of securities and other instruments held by the Funds for which market quotations are not readily available or for which such market quotations or values are considered by MML Advisers or a 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). It is possible that a significant amount of a Fund’s assets will be subject to fair valuation in accordance with MML Advisers’ fair valuation policy and procedures. The fair value determined for an investment by MML Advisers may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The Funds and certain Underlying 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.
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 may be fair valued using 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 indexes 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 the 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 Fundamental Value Fund, Fundamental Growth Fund, Growth Opportunities Fund, Small Cap Value Equity Fund, and Small Cap Growth Equity Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, except for the State Street Navigator Securities Lending Government Money Market Portfolio which was characterized at Level 1, as of June 30, 2023. The MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and the MM Select T. Rowe Price Retirement Funds characterized all investments at Level 1, as of June 30, 2023. For each Fund noted in the preceding sentences, 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 June 30, 2023, for the remaining Funds' investments:
| Total Return Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 15,007,297 | $ | — | $ | 15,007,297 | ||||||||
| Corporate Debt | — | 223,410,365 | — | + | 223,410,365 | |||||||||||
| Municipal Obligations | — | 4,068,700 | — | 4,068,700 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 118,937,879 | — | 118,937,879 | ||||||||||||
| Sovereign Debt Obligations | — | 4,696,461 | — | 4,696,461 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 314,064,758 | — | 314,064,758 | ||||||||||||
| U.S. Treasury Obligations | — | 216,388,118 | — | 216,388,118 | ||||||||||||
| Common Stock | 356,860 | — | — | 356,860 | ||||||||||||
| Rights | — | — | — | + | — | |||||||||||
| Short-Term Investments | 5,263,660 | 56,630,145 | — | 61,893,805 | ||||||||||||
| Unfunded Bank Loan Commitments** | 140 | — | 140 | |||||||||||||
| Total Investments | $ | 5,620,520 | $ | 953,203,863 | $ | — | $ | 958,824,383 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 11,413 | $ | — | $ | 11,413 | ||||||||
| Futures Contracts | 77,777 | — | — | 77,777 | ||||||||||||
| Swap Agreements | — | 137,428 | — | 137,428 | ||||||||||||
| Total | $ | 77,777 | $ | 148,841 | $ | — | $ | 226,618 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (21,546 | ) | $ | — | $ | (21,546 | ) | ||||||
| Futures Contracts | (3,849,791 | ) | — | — | (3,849,791 | ) | ||||||||||
| Total | $ | (3,849,791 | ) | $ | (21,546 | ) | $ | — | $ | (3,871,337 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Strategic Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 7,336,614 | $ | — | $ | 7,336,614 | ||||||||
| Corporate Debt | — | 113,605,772 | — | 113,605,772 | ||||||||||||
| Municipal Obligations | — | 50,217 | — | 50,217 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 25,858,338 | — | 25,858,338 | ||||||||||||
| Sovereign Debt Obligations | — | 18,907,312 | — | 18,907,312 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 146,399,497 | 202,430 | 146,601,927 | ||||||||||||
| U.S. Treasury Obligations | — | 103,860,674 | — | 103,860,674 | ||||||||||||
| Purchased Options | 452,667 | 17,457 | — | 470,124 | ||||||||||||
| Short-Term Investments | 5,062,800 | 6,391,113 | — | 11,453,913 | ||||||||||||
| Total Investments | $ | 5,515,467 | $ | 422,426,994 | $ | 202,430 | $ | 428,144,891 | ||||||||
| Liability Investments | ||||||||||||||||
| Unfunded Loan Commitments** | $ | — | $ | (1,600 | ) | $ | — | $ | (1,600 | ) | ||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 233,954 | $ | — | $ | 233,954 | ||||||||
| Futures Contracts | 3,176,862 | — | — | 3,176,862 | ||||||||||||
| Swap Agreements | — | 2,364,908 | — | 2,364,908 | ||||||||||||
| Total | $ | 3,176,862 | $ | 2,598,862 | $ | — | $ | 5,775,724 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (877,502 | ) | $ | — | $ | (877,502 | ) | ||||||
| Futures Contracts | (3,328,843 | ) | — | — | (3,328,843 | ) | ||||||||||
| Swap Agreements | — | (1,123,627 | ) | — | (1,123,627 | ) | ||||||||||
| Written Options | (721,670 | ) | — | — | (721,670 | ) | ||||||||||
| Total | $ | (4,050,513 | ) | $ | (2,001,129 | ) | $ | — | $ | (6,051,642 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Diversified Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 285,254,123 | $ | 5,587,438 | * | $ | — | $ | 290,841,561 | |||||||
| Preferred Stock | — | 3,066,431 | * | — | 3,066,431 | |||||||||||
| Mutual Funds | 3,709,005 | — | — | 3,709,005 | ||||||||||||
| Short-Term Investments | 107 | 3,471,928 | — | 3,472,035 | ||||||||||||
| Total Investments | $ | 288,963,235 | $ | 12,125,797 | $ | — | $ | 301,089,032 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| S&P 500 Index Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,563,447,587 | $ | — | $ | — | $ | 2,563,447,587 | ||||||||
| Short-Term Investments | — | 5,967,110 | — | 5,967,110 | ||||||||||||
| Total Investments | $ | 2,563,447,587 | $ | 5,967,110 | $ | — | $ | 2,569,414,697 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Futures Contracts | $ | 155,434 | $ | — | $ | — | $ | 155,434 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Equity Opportunities Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 618,757,609 | $ | 9,118,212 | * | $ | — | $ | 627,875,821 | |||||||
| Preferred Stock | — | 4,956,654 | * | — | 4,956,654 | |||||||||||
| Short-Term Investments | 162 | 10,233,504 | — | 10,233,666 | ||||||||||||
| Total Investments | $ | 618,757,771 | $ | 24,308,370 | $ | — | $ | 643,066,141 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Blue Chip Growth Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,454,945,749 | $ | 4,903,513 | * | $ | 3,010,379 | $ | 2,462,859,641 | |||||||
| Preferred Stock | — | — | 3,961,029 | 3,961,029 | ||||||||||||
| Corporate Debt | — | 2,902,757 | — | 2,902,757 | ||||||||||||
| Short-Term Investments | 103 | 23,830,987 | — | 23,831,090 | ||||||||||||
| Total Investments | $ | 2,454,945,852 | $ | 31,637,257 | $ | 6,971,408 | $ | 2,493,554,517 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Mid Cap Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 108,514,363 | $ | 3,351,913 | * | $ | — | $ | 111,866,276 | |||||||
| Preferred Stock | — | 379,220 | * | — | 379,220 | |||||||||||
| Mutual Funds | 539,314 | — | — | 539,314 | ||||||||||||
| Short-Term Investments | 32,240 | 2,679,056 | — | 2,711,296 | ||||||||||||
| Total Investments | $ | 109,085,917 | $ | 6,410,189 | $ | — | $ | 115,496,106 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 2,099 | $ | — | $ | 2,099 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (129 | ) | $ | — | $ | (129 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Small Company Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 206,640,532 | $ | 371,710 | * | $ | — | $ | 207,012,242 | |||||||
| Short-Term Investments | 2,424,090 | 1,292,037 | — | 3,716,127 | ||||||||||||
| Total Investments | $ | 209,064,622 | $ | 1,663,747 | $ | — | $ | 210,728,369 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 1,890 | $ | — | $ | 1,890 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Mid Cap Growth Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 5,183,859,073 | $ | — | $ | 27,792,000 | $ | 5,211,651,073 | ||||||||
| Preferred Stock | — | — | 18,205,578 | 18,205,578 | ||||||||||||
| Short-Term Investments | 5,516,277 | 144,670,496 | — | 150,186,773 | ||||||||||||
| Total Investments | $ | 5,189,375,350 | $ | 144,670,496 | $ | 45,997,578 | $ | 5,380,043,424 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Overseas Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock* | ||||||||||||||||
| Australia | $ | — | $ | 5,810,734 | $ | — | $ | 5,810,734 | ||||||||
| Belgium | — | 4,808,565 | — | 4,808,565 | ||||||||||||
| Canada | 15,332,363 | — | — | 15,332,363 | ||||||||||||
| China | 2,698,081 | 12,118,861 | — | 14,816,942 | ||||||||||||
| Denmark | — | 11,262,740 | — | 11,262,740 | ||||||||||||
| France | — | 81,009,878 | — | 81,009,878 | ||||||||||||
| Germany | — | 75,338,125 | — | 75,338,125 | ||||||||||||
| Hong Kong | — | 12,256,873 | — | 12,256,873 | ||||||||||||
| India | — | 7,745,066 | — | 7,745,066 | ||||||||||||
| Indonesia | — | 197,975 | — | 197,975 | ||||||||||||
| Ireland | 7,156,373 | — | — | 7,156,373 | ||||||||||||
| Israel | 3,854,022 | — | — | 3,854,022 | ||||||||||||
| Italy | — | 12,663,836 | — | 12,663,836 | ||||||||||||
| Japan | — | 51,756,529 | — | 51,756,529 | ||||||||||||
| Luxembourg | — | 1,759,465 | — | 1,759,465 | ||||||||||||
| Netherlands | — | 15,680,388 | — | 15,680,388 | ||||||||||||
| Portugal | — | 2,107,214 | — | 2,107,214 | ||||||||||||
| Republic of Korea | — | 5,153,315 | — | 5,153,315 | ||||||||||||
| Singapore | — | 3,551,777 | — | 3,551,777 | ||||||||||||
| Spain | — | 6,434,762 | — | 6,434,762 | ||||||||||||
| Sweden | — | 6,095,694 | — | 6,095,694 | ||||||||||||
| Switzerland | — | 33,906,093 | — | 33,906,093 | ||||||||||||
| Taiwan | 3,616,266 | — | — | 3,616,266 | ||||||||||||
| United Kingdom | 1,589,898 | 50,674,536 | — | 52,264,434 | ||||||||||||
| United States | 4,595,444 | 40,633,111 | — | 45,228,555 | ||||||||||||
| Preferred Stock* | ||||||||||||||||
| Republic of Korea | — | 2,931,865 | — | 2,931,865 | ||||||||||||
| Short-Term Investments | 1,789,182 | 4,757,432 | — | 6,546,614 | ||||||||||||
| Total Investments | $ | 40,631,629 | $ | 448,654,834 | $ | — | $ | 489,286,463 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price International Equity Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock* | ||||||||||||||||
| Australia | $ | — | $ | 36,065,059 | $ | — | $ | 36,065,059 | ||||||||
| Austria | — | 9,202,608 | — | 9,202,608 | ||||||||||||
| Belgium | — | 4,047,375 | — | 4,047,375 | ||||||||||||
| Brazil | 32,325,873 | — | — | 32,325,873 | ||||||||||||
| Canada | 59,139,117 | — | — | 59,139,117 | ||||||||||||
| Chile | 3,565,230 | 2,507,966 | — | 6,073,196 | ||||||||||||
| China | 35,866,325 | 122,404,146 | — | 158,270,471 | ||||||||||||
| Denmark | 4,542,406 | 10,524,956 | — | 15,067,362 | ||||||||||||
| Finland | — | 8,850,578 | — | 8,850,578 | ||||||||||||
| France | — | 104,819,616 | — | 104,819,616 | ||||||||||||
| Germany | — | 93,308,845 | — | 93,308,845 | ||||||||||||
| Guatemala | — | 1,319,986 | — | 1,319,986 | ||||||||||||
| Hong Kong | — | 22,359,302 | — | 22,359,302 | ||||||||||||
| Hungary | — | 6,612,362 | — | 6,612,362 | ||||||||||||
| India | 2,295,144 | 63,768,568 | — | 66,063,712 | ||||||||||||
| Indonesia | — | 11,170,124 | — | 11,170,124 | ||||||||||||
| Ireland | 2,445,901 | 2,059,153 | — | 4,505,054 | ||||||||||||
| Italy | 1,664,098 | 27,700,637 | — | 29,364,735 | ||||||||||||
| Japan | — | 215,819,165 | — | 215,819,165 | ||||||||||||
| Luxembourg | — | 4,359,111 | — | 4,359,111 | ||||||||||||
| Malaysia | — | 3,001,360 | — | 3,001,360 | ||||||||||||
| Mexico | 12,659,645 | 1,405,682 | — | 14,065,327 | ||||||||||||
| Mongolia | — | 4,473,976 | — | 4,473,976 | ||||||||||||
| Netherlands | 3,417,629 | 72,330,794 | — | 75,748,423 | ||||||||||||
| Norway | — | 12,130,020 | — | 12,130,020 | ||||||||||||
| Peru | 744,844 | — | — | 744,844 | ||||||||||||
| Philippines | 872,131 | 5,460,537 | — | 6,332,668 | ||||||||||||
| Poland | — | 2,020,488 | — | 2,020,488 | ||||||||||||
| Portugal | — | 9,492,532 | — | 9,492,532 | ||||||||||||
| Republic of Korea | 1,531,444 | 54,669,834 | — | 56,201,278 | ||||||||||||
| Russia | — | — | — | + | — | |||||||||||
| Saudi Arabia | — | 13,502,013 | — | 13,502,013 | ||||||||||||
| Singapore | 2,275,807 | 10,538,755 | — | 12,814,562 | ||||||||||||
| South Africa | — | 7,448,474 | — | 7,448,474 | ||||||||||||
| Spain | — | 13,562,272 | — | 13,562,272 | ||||||||||||
| Sweden | 918,994 | 22,685,161 | — | 23,604,155 | ||||||||||||
| Switzerland | — | 55,978,146 | — | 55,978,146 | ||||||||||||
| Taiwan | — | 57,170,272 | — | 57,170,272 | ||||||||||||
| Thailand | 4,671,407 | 4,567,753 | — | 9,239,160 | ||||||||||||
| United Arab Emirates | — | 1,281,835 | — | 1,281,835 | ||||||||||||
| United Kingdom | 21,906,403 | 113,539,647 | — | 135,446,050 | ||||||||||||
| United States | 22,400,230 | 72,847,132 | 271,765 | 95,519,127 | ||||||||||||
| Preferred Stock* | ||||||||||||||||
| Brazil | 2,652,572 | — | — | 2,652,572 | ||||||||||||
| Germany | — | 9,409,261 | — | 9,409,261 | ||||||||||||
| United States | — | — | 16,320 | 16,320 | ||||||||||||
| Rights | — | — | — | + | — | |||||||||||
| Short-Term Investments | 37,102,493 | 1,094,313 | — | 38,196,806 | ||||||||||||
| Total Investments | $ | 252,997,693 | $ | 1,295,509,814 | $ | 288,085 | $ | 1,548,795,592 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Equity Asset Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 337,776,410 | $ | 2,570 | * | $ | — | $ | 337,778,980 | |||||||
| Rights | — | — | — | + | — | |||||||||||
| Short-Term Investments | — | 3,341,964 | — | 3,341,964 | ||||||||||||
| Total Investments | $ | 337,776,410 | $ | 3,344,534 | $ | — | $ | 341,120,944 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Futures Contracts | $ | 73,516 | $ | — | $ | — | $ | 73,516 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Bond Asset Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 4,974,956 | $ | — | $ | 4,974,956 | ||||||||
| Corporate Debt | — | 134,582,125 | — | 134,582,125 | ||||||||||||
| Municipal Obligations | — | 351,731 | — | 351,731 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 36,402,110 | — | 36,402,110 | ||||||||||||
| Sovereign Debt Obligations | — | 107,290,519 | — | 107,290,519 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 154,268,977 | — | 154,268,977 | ||||||||||||
| U.S. Treasury Obligations | — | 120,573,554 | — | 120,573,554 | ||||||||||||
| Purchased Options | — | 738 | — | 738 | ||||||||||||
| Short-Term Investments | 66,031,356 | 5,426,927 | — | 71,458,283 | ||||||||||||
| Total Investments | $ | 66,031,356 | $ | 563,871,637 | $ | — | $ | 629,902,993 | ||||||||
| Liability Investments | ||||||||||||||||
| Unfunded Loan Commitments** | $ | — | $ | (445 | ) | $ | — | $ | (445 | ) | ||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 3,598,885 | $ | — | $ | 3,598,885 | ||||||||
| Futures Contracts | 90,607 | — | — | 90,607 | ||||||||||||
| Swap Agreements | — | 804,966 | — | 804,966 | ||||||||||||
| Total | $ | 90,607 | $ | 4,403,851 | $ | — | $ | 4,494,458 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (1,395,713 | ) | $ | — | $ | (1,395,713 | ) | ||||||
| Futures Contracts | (778,825 | ) | — | — | (778,825 | ) | ||||||||||
| Swap Agreements | — | (1,282,042 | ) | — | (1,282,042 | ) | ||||||||||
| Total | $ | (778,825 | ) | $ | (2,677,755 | ) | $ | — | $ | (3,456,580 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Emerging Markets Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Corporate Debt | $ | — | $ | 21,221,732 | $ | — | $ | 21,221,732 | ||||||||
| Sovereign Debt Obligations | — | 56,716,061 | — | 56,716,061 | ||||||||||||
| Short-Term Investments | 2,773,400 | 1,155,812 | — | 3,929,212 | ||||||||||||
| Total Investments | $ | 2,773,400 | $ | 79,093,605 | $ | — | $ | 81,867,005 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 13,858 | $ | — | $ | 13,858 | ||||||||
| Futures Contracts | 123,335 | — | — | 123,335 | ||||||||||||
| Total | $ | 123,335 | $ | 13,858 | $ | — | $ | 137,193 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (108,768 | ) | $ | — | $ | (108,768 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Large Cap Blend Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,292,824,801 | $ | 9,338,213 | * | $ | 4,163,299 | $ | 2,306,326,313 | |||||||
| Preferred Stock | — | 8,628,425 | * | 6,418,805 | 15,047,230 | |||||||||||
| Short-Term Investments | 12,384,422 | 997,710 | — | 13,382,132 | ||||||||||||
| Total Investments | $ | 2,305,209,223 | $ | 18,964,348 | $ | 10,582,104 | $ | 2,334,755,675 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Corporate Debt | $ | — | $ | 499,231 | $ | — | $ | 499,231 | ||||||||
| Municipal Obligations | — | 756,902 | — | 756,902 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 260,664 | — | 260,664 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 340,558 | — | 340,558 | ||||||||||||
| U.S. Treasury Obligations | — | 185,482,132 | — | 185,482,132 | ||||||||||||
| Short-Term Investments | 9,541,025 | 945,902 | — | 10,486,927 | ||||||||||||
| Total Investments | $ | 9,541,025 | $ | 188,285,389 | $ | — | $ | 197,826,414 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 12,533 | $ | — | $ | 12,533 | ||||||||
| Swap Agreements | — | 646,035 | — | 646,035 | ||||||||||||
| Total | $ | — | $ | 658,568 | $ | — | $ | 658,568 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (7,781 | ) | $ | — | $ | (7,781 | ) | ||||||
| Swap Agreements | — | (13,393 | ) | — | (13,393 | ) | ||||||||||
| Total | $ | — | $ | (21,174 | ) | $ | — | $ | (21,174 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Real Assets Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock* | ||||||||||||||||
| Australia | $ | — | $ | 25,978,058 | $ | — | $ | 25,978,058 | ||||||||
| Austria | — | 1,170,553 | — | 1,170,553 | ||||||||||||
| Belgium | — | 1,302,288 | — | 1,302,288 | ||||||||||||
| Bosnia and Herzegowina | — | 423,722 | — | 423,722 | ||||||||||||
| Brazil | 2,996,531 | — | — | 2,996,531 | ||||||||||||
| Burkina Faso | 1,234,050 | — | — | 1,234,050 | ||||||||||||
| Canada | 24,914,749 | — | — | 24,914,749 | ||||||||||||
| Chile | — | 158,293 | — | 158,293 | ||||||||||||
| China | — | 338,526 | — | 338,526 | ||||||||||||
| Egypt | — | 298,851 | — | 298,851 | ||||||||||||
| Faeroe Islands | — | 454,344 | — | 454,344 | ||||||||||||
| Finland | — | 1,259,730 | — | 1,259,730 | ||||||||||||
| France | — | 3,452,123 | — | 3,452,123 | ||||||||||||
| Germany | — | 601,452 | — | 601,452 | ||||||||||||
| Ghana | 664,141 | — | — | 664,141 | ||||||||||||
| Hong Kong | — | 2,532,537 | — | 2,532,537 | ||||||||||||
| India | 230,296 | — | — | 230,296 | ||||||||||||
| Japan | — | 6,676,599 | — | 6,676,599 | ||||||||||||
| Kazakhstan | — | 837,289 | — | 837,289 | ||||||||||||
| Luxembourg | — | 1,079,536 | — | 1,079,536 | ||||||||||||
| Mexico | 1,775,596 | — | — | 1,775,596 | ||||||||||||
| Netherlands | — | 2,895,334 | — | 2,895,334 | ||||||||||||
| Norway | — | 2,948,452 | — | 2,948,452 | ||||||||||||
| Portugal | — | 468,198 | — | 468,198 | ||||||||||||
| Republic of Korea | — | 1,054,428 | — | 1,054,428 | ||||||||||||
| Russia | — | — | — | + | — | |||||||||||
| Singapore | — | 936,887 | — | 936,887 | ||||||||||||
| South Africa | — | 4,804,276 | — | 4,804,276 | ||||||||||||
| Spain | — | 866,113 | — | 866,113 | ||||||||||||
| Sweden | — | 3,221,977 | — | 3,221,977 | ||||||||||||
| United Kingdom | 2,722,058 | 4,048,624 | — | 6,770,682 | ||||||||||||
| United States | 141,912,119 | 573,230 | — | 142,485,349 | ||||||||||||
| Vietnam | 1,284,826 | — | — | 1,284,826 | ||||||||||||
| Zambia | 1,909,688 | — | — | 1,909,688 | ||||||||||||
| Preferred Stock | ||||||||||||||||
| United States | — | — | 1,688,788 | 1,688,788 | ||||||||||||
| Mutual Funds | 1,534,648 | — | — | 1,534,648 | ||||||||||||
| Purchased Options | — | 274,258 | — | 274,258 | ||||||||||||
| Short-Term Investments | 9,457,884 | 2,610,212 | — | 12,068,096 | ||||||||||||
| Total Investments | $ | 190,636,586 | $ | 71,265,890 | $ | 1,688,788 | $ | 263,591,264 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 236,202 | $ | — | $ | 236,202 | ||||||||
| Futures Contracts | 203,705 | — | — | 203,705 | ||||||||||||
| Swap Agreements | — | 2,897 | — | 2,897 | ||||||||||||
| Total | $ | 203,705 | $ | 239,099 | $ | — | $ | 442,804 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (120,771 | ) | $ | — | $ | (120,771 | ) | ||||||
| Futures Contracts | (61,329 | ) | — | — | (61,329 | ) | ||||||||||
| Total | $ | (61,329 | ) | $ | (120,771 | ) | $ | — | $ | (182,100 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Small and Mid Cap Blend Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 715,342,562 | $ | 15,250,436 | * | $ | 1,602,667 | $ | 732,195,665 | |||||||
| Preferred Stock | — | 862,455 | * | 10,594,175 | 11,456,630 | |||||||||||
| Corporate Debt | — | 92,526 | — | 92,526 | ||||||||||||
| Warrants | 664 | — | 14,944 | 15,608 | ||||||||||||
| Short-Term Investments | 29,345,964 | 1,447,304 | — | 30,793,268 | ||||||||||||
| Total Investments | $ | 744,689,190 | $ | 17,652,721 | $ | 12,211,786 | $ | 774,553,697 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | $ | — | $ | 648,663 | $ | — | $ | 648,663 | ||||||||
| U.S. Treasury Obligations | — | 151,880,942 | — | 151,880,942 | ||||||||||||
| Short-Term Investments | 1,458,203 | 924,064 | — | 2,382,267 | ||||||||||||
| Total Investments | $ | 1,458,203 | $ | 153,453,669 | $ | — | $ | 154,911,872 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Futures Contracts | $ | (287 | ) | $ | — | $ | — | $ | (287 | ) | ||||||
| * | 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 bank loan commitments are valued at the unrealized appreciation (depreciation) on the commitment. |
| + | Represents a security at $0 value as of June 30, 2023. |
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Derivative Instruments
Derivatives are financial instruments whose values are based on the values of one or more underlying 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 SEC's 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, other than the MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and MM Select T. Rowe Price Retirement Funds 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 June 30, 2023, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan and all of the Funds’ cash collateral was invested in the State Street Navigator Securities Lending Government Money Market Portfolio.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
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.
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 MM Select T. Rowe Price Real Assets Fund invests a significant amount of its assets in foreign securities and each of the Overseas Fund, MM Select T. Rowe Price International Equity Fund, and MM Select T. Rowe Price Emerging Markets Bond Fund invests substantially all of its assets in foreign securities. The other Funds and certain Underlying 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, public health, and diplomatic risks. In addition, fluctuations in currency exchange rates may favorably or unfavorably 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, less stringent investor protection and disclosure standards, less reliable settlement practices, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater volatility in currency exchange rates, and are more susceptible to environmental problems.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
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 June 30, 2023, 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) | |||||||||
| Total Return Bond Fund | $ | 1,001,560,057 | $ | 2,806,630 | $ | (45,542,444 | ) | $ | (42,735,814 | ) | ||
| Strategic Bond Fund | 458,844,639 | 1,694,000 | (32,393,748 | ) | (30,699,748 | ) | ||||||
| Diversified Value Fund | 258,181,804 | 50,161,462 | (7,254,234 | ) | 42,907,228 | |||||||
| Fundamental Value Fund | 387,874,045 | 87,383,434 | (15,581,397 | ) | 71,802,037 | |||||||
| S&P 500 Index Fund | 1,375,076,915 | 1,261,683,034 | (67,345,252 | ) | 1,194,337,782 | |||||||
| Equity Opportunities Fund | 535,412,847 | 116,843,949 | (9,190,655 | ) | 107,653,294 | |||||||
| Fundamental Growth Fund | 27,166,471 | 4,244,070 | (1,562,115 | ) | 2,681,955 | |||||||
| Blue Chip Growth Fund | 1,604,584,682 | 981,542,662 | (92,572,827 | ) | 888,969,835 | |||||||
| Growth Opportunities Fund | 151,925,609 | 35,652,854 | (12,109,741 | ) | 23,543,113 | |||||||
| Mid Cap Value Fund | 112,854,973 | 8,957,837 | (6,316,704 | ) | 2,641,133 | |||||||
| Small Cap Value Equity Fund | 50,623,435 | 10,013,842 | (3,667,268 | ) | 6,346,574 | |||||||
| Small Company Value Fund | 221,614,678 | 18,710,980 | (29,597,289 | ) | (10,886,309 | ) | ||||||
| Mid Cap Growth Fund | 4,372,391,293 | 1,212,210,669 | (204,558,538 | ) | 1,007,652,131 | |||||||
| Small Cap Growth Equity Fund | 716,366,375 | 117,259,530 | (34,898,150 | ) | 82,361,380 | |||||||
| Overseas Fund | 414,189,354 | 92,831,213 | (17,734,104 | ) | 75,097,109 | |||||||
| MM Select T. Rowe Price International Equity Fund | 1,437,584,333 | 215,555,471 | (104,344,212 | ) | 111,211,259 | |||||||
| 20/80 Allocation Fund | 190,946,454 | 683,726 | (19,172,904 | ) | (18,489,178 | ) | ||||||
| 40/60 Allocation Fund | 197,283,119 | 1,427,217 | (20,625,517 | ) | (19,198,300 | ) | ||||||
| 60/40 Allocation Fund | 182,970,606 | 1,604,512 | (14,251,789 | ) | (12,647,277 | ) | ||||||
| 80/20 Allocation Fund | 137,147,769 | 1,962,504 | (8,219,545 | ) | (6,257,041 | ) | ||||||
| MM RetireSMART by JPMorgan In Retirement Fund | 86,879,323 | 575,889 | (6,341,588 | ) | (5,765,699 | ) | ||||||
| MM RetireSMART by JPMorgan 2020 Fund | 163,640,486 | 1,194,244 | (11,631,058 | ) | (10,436,814 | ) | ||||||
| MM RetireSMART by JPMorgan 2025 Fund | 156,101,634 | 907,085 | (11,501,068 | ) | (10,593,983 | ) | ||||||
| MM RetireSMART by JPMorgan 2030 Fund | 362,962,844 | 2,803,194 | (26,131,994 | ) | (23,328,800 | ) | ||||||
| MM RetireSMART by JPMorgan 2035 Fund | 165,144,290 | 987,649 | (9,273,074 | ) | (8,285,425 | ) | ||||||
| MM RetireSMART by JPMorgan 2040 Fund | 274,078,604 | 2,671,552 | (14,929,619 | ) | (12,258,067 | ) | ||||||
| MM RetireSMART by JPMorgan 2045 Fund | 123,168,347 | 795,906 | (5,429,706 | ) | (4,633,800 | ) | ||||||
| MM RetireSMART by JPMorgan 2050 Fund | 206,236,593 | 1,273,031 | (9,517,390 | ) | (8,244,359 | ) | ||||||
| MM RetireSMART by JPMorgan 2055 Fund | 65,509,383 | 528,952 | (2,264,944 | ) | (1,735,992 | ) | ||||||
| MM RetireSMART by JPMorgan 2060 Fund | 22,256,504 | 407,073 | (398,103 | ) | 8,970 | |||||||
| MM RetireSMART by JPMorgan 2065 Fund | 1,032,537 | 44,537 | (9,411 | ) | 35,126 | |||||||
| Equity Asset Fund | 266,548,735 | 81,251,104 | (6,678,895 | ) | 74,572,209 | |||||||
| MM Select T. Rowe Price Bond Asset Fund | 667,224,418 | 2,271,997 | (39,593,422 | ) | (37,321,425 | ) | ||||||
| MM Select T. Rowe Price Emerging Markets Bond Fund | 95,792,539 | 705,279 | (14,630,813 | ) | (13,925,534 | ) | ||||||
| MM Select T. Rowe Price Large Cap Blend Fund | 2,066,603,878 | 326,535,554 | (58,383,757 | ) | 268,151,797 | |||||||
| MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund | 206,536,693 | – | (8,710,279 | ) | (8,710,279 | ) | ||||||
| MM Select T. Rowe Price Real Assets Fund | 272,714,183 | 11,672,770 | (20,795,689 | ) | (9,122,919 | ) | ||||||
| MM Select T. Rowe Price Small and Mid Cap Blend Fund | 694,716,717 | 131,019,082 | (51,182,102 | ) | 79,836,980 | |||||||
| MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund | 186,783,083 | 161,907 | (32,033,118 | ) | (31,871,211 | ) | ||||||
| MM Select T. Rowe Price Retirement Balanced Fund | 197,781,333 | 1,015,109 | (22,066,928 | ) | (21,051,819 | ) | ||||||
| MM Select T. Rowe Price Retirement 2005 Fund | 21,660,207 | – | (1,845,007 | ) | (1,845,007 | ) | ||||||
| MM Select T. Rowe Price Retirement 2010 Fund | 115,435,685 | 706,547 | (13,271,036 | ) | (12,564,489 | ) | ||||||
| MM Select T. Rowe Price Retirement 2015 Fund | 123,308,165 | 526,383 | (12,847,628 | ) | (12,321,245 | ) | ||||||
| MM Select T. Rowe Price Retirement 2020 Fund | 572,597,970 | 4,268,028 | (54,133,244 | ) | (49,865,216 | ) | ||||||
| MM Select T. Rowe Price Retirement 2025 Fund | 609,862,984 | 1,628,517 | (55,538,581 | ) | (53,910,064 | ) | ||||||
| MM Select T. Rowe Price Retirement 2030 Fund | 1,412,540,419 | 15,601,630 | (88,256,070 | ) | (72,654,440 | ) | ||||||
| MM Select T. Rowe Price Retirement 2035 Fund | 778,153,327 | 5,680,325 | (44,306,766 | ) | (38,626,441 | ) | ||||||
| MM Select T. Rowe Price Retirement 2040 Fund | 1,294,487,626 | 14,221,193 | (49,359,128 | ) | (35,137,935 | ) | ||||||
| MM Select T. Rowe Price Retirement 2045 Fund | 624,805,227 | 5,409,345 | (26,426,262 | ) | (21,016,917 | ) | ||||||
| MM Select T. Rowe Price Retirement 2050 Fund | 914,555,983 | 9,590,126 | (30,599,568 | ) | (21,009,442 | ) | ||||||
| MM Select T. Rowe Price Retirement 2055 Fund | 405,539,646 | 2,991,207 | (17,913,712 | ) | (14,922,505 | ) | ||||||
| MM Select T. Rowe Price Retirement 2060 Fund | 218,381,070 | 1,101,042 | (10,088,234 | ) | (8,987,192 | ) | ||||||
| MM Select T. Rowe Price Retirement 2065 Fund | 1,016,185 | 48,572 | (4,278 | ) | 44,294 | |||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
4. New Accounting Pronouncements
In June 2022, FASB issued Accounting Standards Update 2022-03 — Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies the guidance in Topic 820 to indicate that a contractual sale restriction should not be considered in the fair value of an equity security subject to such a restriction, and requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. ASU 2022-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, and allows for early adoption. ASU 2022-03 will only be applicable to an equity security in which the contractual arrangement that restricts its sale is executed or modified on or after the adoption date. Management is currently evaluating the impact of applying this update.
5. Coronavirus (COVID-19) Pandemic
The global pandemic outbreak of the novel coronavirus known as COVID-19 and efforts to contain its spread have produced, and may continue to produce, substantial market volatility, severe market dislocations and liquidity constraints in many markets, exchange trading suspensions and closures, higher default rates, and global business disruption, and they may result in future significant adverse effects. Such factors, and the effects of other infectious illness outbreaks, epidemics, or pandemics, 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.
6. Russia-Ukraine War
In February 2022, Russia commenced a large-scale military attack on Ukraine. The outbreak of hostilities between the two countries could result in more widespread conflict and could have a severe adverse effect on the regional and the global financial markets and economies. One or more of the Funds or Underlying Funds hold positions in securities or other instruments that are economically tied to Russia. Investments in Russia are subject to political, economic, legal, market, and currency risks, as well as the risks related to the economic sanctions on Russia, Russian individuals, and Russian corporate and banking entities imposed by the United States, other countries, and certain international organizations. Such sanctions — which affect companies in many sectors, including energy, financial services, and defense, among others — could adversely affect the global energy and financial markets and, thus, could affect the value of a Fund’s or an Underlying Fund's investments, even beyond any direct exposure the Fund or the Underlying Fund may have to Russian issuers or the adjoining geographic regions. These sanctions and any other intergovernmental actions (including retaliatory actions by the Russian government) may also result in a decline in the value and liquidity of Russian securities and a weakening of the ruble, and will impair a Fund's or an Underlying Fund's ability to buy, sell, receive, or deliver Russian securities. In addition, certain transactions have been or may be prohibited and/or existing investments have or may become illiquid (e.g., because transacting in certain existing investments is prohibited), which could cause a Fund or an Underlying Fund to sell other portfolio holdings at a disadvantageous time or price in order to meet shareholder redemptions.