MassMutual Equity Opports I (MFVZX) NPORT-P MassMutual RetireSMART by JPMorgan 2025 Fund (Dec 2024 report)

MassMutual Total Return Bond Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 109.1%
BANK LOANS — 1.4%
Aerospace & Defense — 0.0%
TransDigm, Inc., 2024 Term Loan I, 3 mo. USD Term SOFR + 2.750%
7.079% VRN 8/24/28	$	87,051	$	87,287
Auto Parts & Equipment — 0.0%
First Brands Group LLC, 2021 Term Loan, 3 mo. USD Term SOFR + 5.000%
9.847% VRN 3/30/27		82,091		76,892
Beverages — 0.1%
City Brewing Co. LLC
2024 First Lien First Out Roll Up Term Loan, 3 mo. USD Term SOFR + 3.500%
8.418% VRN 4/05/28		82,882		57,603
2024 First Lien Second Out PIK Term Loan, 3 mo. USD Term SOFR + 5.000%
9.909% VRN 4/05/28		166,128		60,914
Naked Juice LLC
Term Loan, 3 mo. USD Term SOFR + 3.000%
7.429% 1/24/29		384,230		251,605
2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.000%
10.429% VRN 1/24/30		68,440		22,671
				392,793
Chemicals — 0.0%
Chemours Co., 2023 USD Term Loan B, 1 mo. USD Term SOFR + 3.000%
7.357% VRN 8/18/28		72,283		72,576
Mativ Holdings, Inc., Delayed Draw Term Loan A, 1 mo. USD Term SOFR + 2.500%
6.957% VRN 5/06/27		44,374		43,931
				116,507
Commercial Services — 0.1%
Belron Finance 2019 LLC, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 2.750%
7.273% VRN 10/16/31		48,409		48,802
Boost Newco Borrower LLC, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 2.500%
6.829% VRN 1/31/31		37,783		37,933
CCRR Parent, Inc.
Term Loan B, 3 mo. USD Term SOFR + 4.250%
9.026% VRN 3/06/28		27,502		15,905
US Acquisition Facility, 3 mo. USD Term SOFR + 4.250%
9.026% VRN 3/06/28		77,490		47,269
Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.000%
8.706% VRN 3/04/28		226,266		190,012

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
TruGreen Ltd. Partnership, 2020 Term Loan, 1 mo. USD Term SOFR + 4.000%
8.457% VRN 11/02/27	$	56,026	$	54,415
				394,336
Computers — 0.0%
Indy US Bidco LLC, 2024 USD Term Loan B, 1 mo. USD Term SOFR + 4.750%
9.107% VRN 3/06/28		37,256		37,535
Diversified Financial Services — 0.1%
Avolon TLB Borrower 1 (US) LLC, 2023 Term Loan B6, 1 mo. USD Term SOFR + 1.750%
6.120% VRN 6/24/30		356,905		356,509
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750%
8.079% VRN 4/09/27		138,063		134,784
Jane Street Group LLC, 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.000%
6.395% VRN 1/26/28		87,870		87,490
				578,783
Electric — 0.1%
Alpha Generation LLC, Term Loan B, 1 mo. USD Term SOFR + 2.750%
7.107% VRN 9/30/31		115,101		115,763
Kestrel Acquisition LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.500%
7.829% VRN 11/06/31		40,225		40,446
Lackawanna Energy Center LLC
Term Loan B2, 1 mo. USD Term SOFR + 4.250%
8.607% VRN 8/06/29		18,312		18,449
Term Loan C, 1 mo. USD Term SOFR + 4.250%
8.607% VRN 8/06/29		4,012		4,042
South Field LLC
Term Loan B, 3 mo. USD Term SOFR + 3.750%
8.079% VRN 8/29/31		52,580		52,886
Term Loan C, 3 mo. USD Term SOFR + 3.750%
8.079% VRN 8/29/31		3,225		3,244
Vistra Operations Co. LLC, 1st Lien Term Loan B3, 1 mo. USD Term SOFR + 1.750%
6.107% VRN 12/20/30		88,638		88,708
				323,538
Electronics — 0.0%
II-VI, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.500%
6.857% VRN 7/02/29		27,949		27,977
TCP Sunbelt Acquisition Co., 2024 Term Loan B, 3 mo. USD Term SOFR + 4.250%
8.771% VRN 10/16/31		75,000		75,094
				103,071
Energy - Alternate Sources — 0.0%
CPV Fairview LLC, Term Loan B, 1 mo. USD Term SOFR + 3.500%
7.857% VRN 8/14/31		20,133		20,335

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Engineering & Construction — 0.0%
Artera Services LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 4.500%
8.829% VRN 2/15/31	$	92,506	$	91,555
Entertainment — 0.1%
Showtime Acquisition LLC, 2024 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.750%
9.235% VRN 8/13/31		120,281		120,531
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 2.750%
7.221% VRN 5/18/25		214,585		214,853
				335,384
Food — 0.0%
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750%
8.221% VRN 10/01/25		17,088		16,665
United Natural Foods, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 4.750%
9.107% VRN 5/01/31		140,601		142,499
				159,164
Hand & Machine Tools — 0.0%
Alliance Laundry Systems LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.500%
7.837% VRN 8/19/31		80,234		80,671
Health Care - Products — 0.0%
Bausch & Lomb Corp., Term Loan, 1 mo. USD Term SOFR + 3.250%
7.689% VRN 5/10/27		152,949		153,386
Health Care - Services — 0.1%
Modivcare, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 4.750%
9.079% VRN 7/01/31		320,548		301,850
Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.000%
8.329% VRN 9/27/30		84,977		82,916
				384,766
Home Furnishing — 0.0%
AI Aqua Merger Sub, Inc.
2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.000%
7.337% VRN 7/31/28		42,424		42,496
2021 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.500%
8.053% VRN 7/31/28		52,789		52,789
				95,285
Insurance — 0.1%
Acrisure LLC, 2024 Term Loan B1, 1 mo. USD Term SOFR + 3.000%
7.356% VRN 2/16/27		217,274		217,341
AmWINS Group, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.250%
6.721% VRN 2/19/28		248,895		249,527
Asurion LLC
2020 Term Loan B8, 1 mo. USD Term SOFR + 3.250%
7.721% VRN 12/23/26		236,195		235,954

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
2022 Term Loan B10, 1 mo. USD Term SOFR + 4.000%
8.457% VRN 8/19/28	$	129,753	$	129,294
				832,116
Internet — 0.0%
Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.250%
7.707% VRN 12/06/27		63,592		62,020
Match Group, Inc., 2020 Term Loan B, 1 mo. USD Term SOFR + 1.750%
6.270% VRN 2/13/27		27,175		27,107
MH Sub I LLC, 2023 Term Loan, 1 mo. USD Term SOFR + 4.250%
8.607% VRN 5/03/28		43,815		43,807
PUG LLC, 2024 Extended Term Loan B, 1 mo. USD Term SOFR + 4.750%
9.107% VRN 3/15/30		40,415		40,432
Research Now Group, Inc., 2024 First Lien Second Out Term Loan, 3 mo. USD Term SOFR + 5.500%
10.285% VRN 10/15/28		49,254		45,683
				219,049
Leisure Time — 0.0%
Sabre GLBL, Inc., 2022 1st Lien Term Loan B, 1 mo. USD Term SOFR + 5.000%
9.457% VRN 6/30/28		34,956		33,980
Lodging — 0.0%
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, 1 mo. USD Term SOFR + 1.750%
6.088% VRN 11/08/30		25,942		26,056
Machinery - Construction & Mining — 0.0%
WEC US Holdings Ltd., 2024 Term Loan, 1 mo. USD Term SOFR + 2.250%
6.803% VRN 1/27/31		53,823		53,812
Media — 0.1%
CSC Holdings LLC, 2019 Term Loan B5, 6 mo. USD LIBOR + 2.500%
7.173% VRN 4/15/27		111,607		102,800
Telenet Financing USD LLC, 2020 USD Term Loan AR, 1 mo. USD Term SOFR + 2.000%
6.512% VRN 4/30/28		65,220		63,380
Virgin Media Bristol LLC, USD Term Loan N, 1 mo. USD Term SOFR + 2.500%
7.012% VRN 1/31/28		171,605		170,246
				336,426
Office & Business Equipment — 0.0%
Xerox Holdings Corp., 2023 Term Loan B, 1 mo. USD Term SOFR + 4.000%, 3 mo. USD Term SOFR + 4.000%
8.329% - 8.357% VRN 11/17/29		48,959		48,826
Packaging & Containers — 0.1%
Balcan Innovations, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.750%
9.382% VRN 10/10/31		58,855		59,002
Berry Global, Inc., 2023 Term Loan AA, 1 mo. USD Term SOFR + 1.750%
6.342% VRN 7/01/29		530,388		530,850
				589,852

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pharmaceuticals — 0.1%
Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000%
8.429% VRN 10/01/27	$	218,182	$	210,849
Jazz Financing Lux SARL, 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.250%
6.607% VRN 5/05/28		253,900		254,392
				465,241
Real Estate Investment Trusts (REITS) — 0.2%
Healthpeak Properties, Inc.
2024 Term Loan A3, 3 mo. USD Term SOFR + 0.850%
5.179% VRN 3/01/29		460,173		447,518
Term Loan A2, 1 mo. USD Term SOFR + 1.600%
6.188% VRN 2/22/27		228,010		223,165
Term Loan A1, 1 mo. USD Term SOFR + 1.600%
6.188% VRN 8/20/27		228,010		222,879
Invitation Homes Operating Partnership LP, 2024 Term Loan, 3 mo. USD Term SOFR + 1.600%
5.996% VRN 9/09/28		628,736		616,162
SBA Senior Finance II LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 1.750%
6.110% VRN 1/25/31		78,266		78,239
				1,587,963
Retail — 0.0%
1011778 B.C. Unlimited Liability Co., 2024 Term Loan B6, 1 mo. USD Term SOFR + 1.750%
6.107% VRN 9/20/30		139,933		139,088
KFC Holding Co., 2021 Term Loan B, 1 mo. USD Term SOFR + 1.750%
6.240% VRN 3/15/28		99,576		99,665
Peer Holding III BV, 2024 USD Term Loan B5, 3 mo. USD Term SOFR + 3.000%
7.329% VRN 7/01/31		56,528		56,757
				295,510
Software — 0.1%
Cast & Crew Payroll LLC, 2021 Incremental Term Loan, 1 mo. USD Term SOFR + 3.750%
8.107% VRN 12/29/28		31,817		30,788
DTI Holdco, Inc., 2022 Term Loan, 1 mo. USD Term SOFR + 4.750%
9.107% VRN 4/26/29		22,561		22,698
EagleView Technology Corp., 2018 Add On Term Loan B, 3 mo. USD Term SOFR + 3.500%
8.091% VRN 8/14/25		298,102		281,426
Renaissance Holding Corp., 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 4.000%
8.357% VRN 4/05/30		79,636		79,382
				414,294
Telecommunications — 0.1%
Altice France SA, 2023 USD Term Loan B14, 3 mo. USD Term SOFR + 5.500%
10.147% VRN 8/15/28		84,640		67,691
CCI Buyer, Inc., Term Loan, 3 mo. USD Term SOFR + 4.000%
8.329% VRN 12/17/27		74,041		74,014

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Zayo Group Holdings, Inc., USD Term Loan, 1 mo. USD Term SOFR + 3.000%
7.471% VRN 3/09/27	$	283,790	$	265,224
				406,929
TOTAL BANK LOANS (Cost $9,039,796)				8,741,342
CORPORATE DEBT — 15.2%
Aerospace & Defense — 0.1%
Boeing Co.
5.805% 5/01/50		860,000		799,932
Agriculture — 0.1%
Imperial Brands Finance PLC
3.875% 7/26/29 (b)		50,000		47,243
6.125% 7/27/27 (b)		690,000		708,470
				755,713
Banks — 3.9%
Bank of America Corp.
1 day USD SOFR + 1.370% 1.922% VRN 10/24/31		120,000		100,251
1 day USD SOFR + 1.060% 2.087% VRN 6/14/29		1,275,000		1,157,149
1 day USD SOFR + 1.050% 2.551% VRN 2/04/28		2,311,000		2,203,435
1 day USD SOFR + 2.150% 2.592% VRN 4/29/31		290,000		255,480
3 mo. USD Term SOFR + 1.837% 3.824% VRN 1/20/28		2,564,000		2,512,301
3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29		920,000		892,241
Citigroup, Inc.
1 day USD SOFR + 1.167% 2.561% VRN 5/01/32		325,000		275,081
1 day USD SOFR + 1.422% 2.976% VRN 11/05/30		500,000		450,947
1 day USD SOFR + 1.351% 3.057% VRN 1/25/33		470,000		403,750
Goldman Sachs Group, Inc.
1 day USD SOFR + 0.798% 1.431% VRN 3/09/27		2,475,000		2,376,060
1 day USD SOFR + 0.818% 1.542% VRN 9/10/27		485,000		458,602
1 day USD SOFR + 0.913% 1.948% VRN 10/21/27		1,550,000		1,470,606
HSBC Holdings PLC 1 day USD SOFR + 1.929%
2.099% VRN 6/04/26		1,480,000		1,462,549
JP Morgan Chase & Co.
3 mo. USD Term SOFR + 0.695% 1.040% VRN 2/04/27		50,000		48,037
1 day USD SOFR + 0.885% 1.578% VRN 4/22/27		1,320,000		1,267,502
1 day USD SOFR + 1.015% 2.069% VRN 6/01/29		885,000		804,164
1 day USD SOFR + 1.180% 2.545% VRN 11/08/32		190,000		160,268
3 mo. USD Term SOFR + 1.250% 2.580% VRN 4/22/32		255,000		218,743
3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30		540,000		486,440
3 mo. USD Term SOFR + 1.382% 4.005% VRN 4/23/29		410,000		397,513
1 day USD SOFR + 1.310% 5.012% VRN 1/23/30		315,000		314,714
Morgan Stanley 1 day USD SOFR + 0.879%
1.593% VRN 5/04/27		910,000		872,263
PNC Financial Services Group, Inc.
1 day USD SOFR Index + 2.140% 6.037% VRN 10/28/33		380,000		393,257
1 day USD SOFR + 2.284% 6.875% VRN 10/20/34		60,000		65,494
Santander UK Group Holdings PLC
1 yr. CMT + 1.250% 1.532% VRN 8/21/26		295,000		288,251
1 day USD SOFR + 1.220% 2.469% VRN 1/11/28		195,000		184,721
US Bancorp 1 day USD SOFR + 1.600%
4.839% VRN 2/01/34		525,000		502,548

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Wells Fargo & Co.
1 day USD SOFR + 2.100% 2.393% VRN 6/02/28	$	1,280,000	$	1,205,540
1 day USD SOFR + 1.500% 3.350% VRN 3/02/33		800,000		701,318
1 day USD SOFR + 2.100% 4.897% VRN 7/25/33		545,000		526,342
1 day USD SOFR + 1.740% 5.574% VRN 7/25/29		1,755,000		1,781,843
				24,237,410
Beverages — 0.1%
Anheuser-Busch InBev SA
3.950% 3/22/44 EUR (b) (c)		590,000		621,225
Pernod Ricard SA
3.625% 5/07/34 EUR (b) (c)		300,000		312,786
				934,011
Chemicals — 0.3%
International Flavors & Fragrances, Inc.
1.832% 10/15/27 (b)		85,000		78,062
2.300% 11/01/30 (b)		1,860,000		1,579,456
3.268% 11/15/40 (b)		350,000		249,796
				1,907,314
Commercial Services — 0.1%
Worldline SA
Convertible, 0.000% 7/30/25 EUR (b) (c)		60,000		72,095
Convertible, 0.000% 7/30/26 EUR (b) (c)		370,000		367,934
				440,029
Diversified Financial Services — 0.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.000% 10/29/28		640,000		592,614
Air Lease Corp.
3.250% 3/01/25		950,000		947,283
5.850% 12/15/27		505,000		517,662
Avolon Holdings Funding Ltd.
2.528% 11/18/27 (b)		859,000		796,552
2.875% 2/15/25 (b)		45,000		44,852
4.375% 5/01/26 (b)		815,000		806,066
				3,705,029
Electric — 1.8%
Amprion GmbH
0.625% 9/23/33 EUR (b) (c)		100,000		81,697
4.000% 5/21/44 EUR (b) (c)		200,000		208,997
Duke Energy Carolinas LLC
3.700% 12/01/47		538,000		398,332
Duke Energy Corp.
3.750% 4/01/31 EUR (c)		1,030,000		1,084,342
E.ON SE
3.500% 10/26/37 EUR (c)		100,000		102,175
Elia Group SA
3.875% 6/11/31 EUR (b) (c)		200,000		209,393
Elia Transmission Belgium SA
3.750% 1/16/36 EUR (b) (c)		200,000		210,474
Entergy Louisiana LLC
3.780% 4/01/25		1,250,000		1,247,232

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Eurogrid GmbH
0.741% 4/21/33 EUR (b) (c)	$	300,000	$	252,413
Eversource Energy
4.600% 7/01/27		735,000		729,930
5.950% 2/01/29		835,000		860,236
FirstEnergy Transmission LLC
2.866% 9/15/28 (b)		1,401,000		1,297,225
MidAmerican Energy Co.
4.400% 10/15/44		500,000		427,434
MVM Energetika Zrt
6.500% 3/13/31 (b)		250,000		251,775
National Grid Electricity Transmission PLC
0.823% 7/07/32 EUR (b) (c)		150,000		130,205
Public Service Co. of Colorado
5.250% 4/01/53		370,000		343,685
RTE Reseau de Transport d'Electricite SADIR
3.500% 4/30/33 EUR (b) (c)		300,000		312,877
Southwestern Electric Power Co.
3.250% 11/01/51		175,000		110,801
5.300% 4/01/33		1,000,000		988,884
TenneT Holding BV
2.750% 5/17/42 EUR (b) (c)		230,000		210,728
4.500% 10/28/34 EUR (b) (c)		175,000		196,544
Wisconsin Power & Light Co.
4.950% 4/01/33		1,535,000		1,490,012
				11,145,391
Engineering & Construction — 0.0%
Artera Services LLC
8.500% 2/15/31 (b)		60,000		57,832
Entertainment — 0.5%
Warnermedia Holdings, Inc.
5.050% 3/15/42		1,760,000		1,413,073
5.141% 3/15/52		2,336,000		1,735,658
				3,148,731
Food — 0.5%
ELO SACA
6.000% 3/22/29 EUR (b) (c)		600,000		526,660
JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL
6.500% 12/01/52		900,000		915,499
6.750% 3/15/34		598,000		632,244
Mondelez International, Inc.
0.750% 3/17/33 EUR (c)		365,000		308,075
Pilgrim's Pride Corp.
3.500% 3/01/32 (b)		500,000		431,156
				2,813,634
Gas — 0.4%
East Ohio Gas Co.
2.000% 6/15/30 (b)		495,000		424,664
KeySpan Gas East Corp.
5.819% 4/01/41 (b)		1,337,000		1,289,176
National Gas Transmission PLC
4.250% 4/05/30 EUR (b) (c)		475,000		511,114

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Piedmont Natural Gas Co., Inc.
5.100% 2/15/35	$	300,000	$	290,792
				2,515,746
Health Care - Products — 0.1%
Medtronic Global Holdings SCA
3.375% 10/15/34 EUR (c)		300,000		311,487
Stryker Corp.
3.375% 9/11/32 EUR (c)		195,000		204,447
				515,934
Health Care - Services — 0.4%
CommonSpirit Health
3.347% 10/01/29		65,000		60,542
Elevance Health, Inc.
5.200% 2/15/35		310,000		302,755
HCA, Inc.
5.250% 4/15/25		644,000		644,635
Kedrion SpA
6.500% 9/01/29 (b)		500,000		470,250
Lonza Finance International NV
3.875% 4/24/36 EUR (b) (c)		325,000		345,212
ModivCare, Inc.
5.000% 10/01/29 (b) (d)		853,000		501,644
				2,325,038
Household Products & Wares — 0.1%
Central Garden & Pet Co.
5.125% 2/01/28		22,000		21,372
Spectrum Brands, Inc.
3.875% 3/15/31 (b)		421,000		362,290
				383,662
Insurance — 0.6%
Athene Global Funding
3.205% 3/08/27 (b)		445,000		425,100
Farmers Exchange Capital II 3 mo. USD Term SOFR + 4.006%
6.151% VRN 11/01/53 (b)		350,000		336,165
Farmers Exchange Capital III 3 mo. USD LIBOR + 3.454%
5.454% VRN 10/15/54 (b)		3,290,000		2,964,438
				3,725,703
Internet — 0.2%
Uber Technologies, Inc.
4.800% 9/15/34		1,105,000		1,057,561
Investment Companies — 0.1%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
9.000% 6/15/30		620,000		595,020
Machinery - Diversified — 0.0%
OT Merger Corp.
7.875% 10/15/29 (b)		250,000		108,125

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Media — 1.0%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.750% 3/01/30 (b)	$	80,000	$	73,053
Charter Communications Operating LLC/Charter Communications Operating Capital
3.700% 4/01/51		1,335,000		833,920
3.750% 2/15/28		500,000		476,255
3.900% 6/01/52		1,289,000		829,227
4.908% 7/23/25		255,000		254,696
5.375% 4/01/38		5,000		4,448
5.375% 5/01/47		180,000		147,739
5.750% 4/01/48		588,000		502,645
CSC Holdings LLC
5.750% 1/15/30 (b)		124,000		70,539
6.500% 2/01/29 (b)		1,067,000		895,736
7.500% 4/01/28 (b)		80,000		54,813
11.250% 5/15/28 (b)		244,000		240,807
11.750% 1/31/29 (b)		212,000		209,366
Time Warner Cable LLC
5.500% 9/01/41		1,465,000		1,243,194
5.875% 11/15/40		360,000		322,127
				6,158,565
Mining — 0.0%
Corp. Nacional del Cobre de Chile
5.125% 2/02/33 (b)		200,000		189,164
Oil & Gas — 0.2%
Ecopetrol SA
8.875% 1/13/33		100,000		101,896
Occidental Petroleum Corp.
4.500% 7/15/44		400,000		295,511
Pertamina Persero PT
3.100% 8/27/30 (b)		675,000		603,281
Petroleos Mexicanos
6.625% 6/15/35		700,000		551,332
				1,552,020
Packaging & Containers — 0.5%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
4.125% 8/15/26 (b) (d)		120,000		108,000
5.250% 8/15/27 (b)		900,000		510,921
Berry Global, Inc.
1.650% 1/15/27		85,000		79,590
4.875% 7/15/26 (b)		273,000		271,907
5.500% 4/15/28		310,000		312,972
5.650% 1/15/34 (b)		570,000		571,632
Sealed Air Corp.
1.573% 10/15/26 (b)		1,200,000		1,128,749
				2,983,771
Pharmaceuticals — 1.0%
1375209 BC Ltd.
9.000% 1/30/28 (b) (d)		551,000		550,561
Bayer US Finance II LLC
4.375% 12/15/28 (b)		1,181,000		1,135,746
4.625% 6/25/38 (b)		1,310,000		1,091,633

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Bayer US Finance LLC
6.875% 11/21/53 (b) (d)	$	865,000	$	872,032
CVS Health Corp.
4.780% 3/25/38		150,000		129,701
5.125% 7/20/45		260,000		218,442
5.875% 6/01/53		345,000		316,482
5 yr. CMT + 2.516% 6.750% VRN 12/10/54		250,000		245,135
5 yr. CMT + 2.886% 7.000% VRN 3/10/55		395,000		396,325
Grifols SA
3.875% 10/15/28 EUR (b) (c)		630,000		589,608
7.500% 5/01/30 EUR (b) (c)		100,000		108,498
Johnson & Johnson
3.550% 6/01/44 EUR (c)		200,000		212,023
MSD Netherlands Capital BV
3.700% 5/30/44 EUR (c)		420,000		440,738
				6,306,924
Pipelines — 0.0%
TransCanada PipeLines Ltd.
5.850% 3/15/36		50,000		50,425
Real Estate — 0.2%
Annington Funding PLC
2.308% 10/06/32 GBP (b) (c)		335,000		356,438
2.924% 10/06/51 GBP (b) (c)		175,000		148,136
Blackstone Property Partners Europe Holdings SARL
1.000% 5/04/28 EUR (b) (c)		125,000		119,117
1.625% 4/20/30 EUR (b) (c)		135,000		124,681
1.750% 3/12/29 EUR (b) (c)		100,000		96,297
LEG Immobilien SE
1.500% 1/17/34 EUR (b) (c)		100,000		86,835
Vonovia SE
0.750% 9/01/32 EUR (b) (c)		400,000		335,325
2.250% 4/07/30 EUR (b) (c)		100,000		98,409
				1,365,238
Real Estate Investment Trusts (REITS) — 1.6%
American Assets Trust LP
3.375% 2/01/31		865,000		752,443
American Homes 4 Rent LP
2.375% 7/15/31		330,000		276,098
3.625% 4/15/32		862,000		770,578
4.300% 4/15/52		350,000		272,535
American Tower Corp.
2.300% 9/15/31		1,050,000		873,001
Crown Castle, Inc.
2.100% 4/01/31		777,000		643,093
Digital Intrepid Holding BV
0.625% 7/15/31 EUR (b) (c)		1,050,000		906,912
Extra Space Storage LP
3.900% 4/01/29		670,000		640,534
GLP Capital LP/GLP Financing II, Inc.
4.000% 1/15/31		380,000		347,572
5.375% 4/15/26		715,000		715,011
Healthcare Realty Holdings LP
3.100% 2/15/30		195,000		175,242
3.625% 1/15/28		157,000		149,122

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Hudson Pacific Properties LP
3.250% 1/15/30 (d)	$	210,000	$	142,897
4.650% 4/01/29 (d)		1,150,000		866,662
5.950% 2/15/28		15,000		12,797
Invitation Homes Operating Partnership LP
5.500% 8/15/33		221,000		219,707
LXP Industrial Trust
6.750% 11/15/28		230,000		240,833
Prologis Euro Finance LLC
4.250% 1/31/43 EUR (c)		710,000		761,980
Realty Income Corp.
5.125% 7/06/34 EUR (c)		540,000		615,864
VICI Properties LP
5.625% 5/15/52		73,000		67,919
VICI Properties LP/VICI Note Co., Inc.
3.875% 2/15/29 (b)		190,000		179,035
4.125% 8/15/30 (b)		50,000		46,458
4.625% 6/15/25 (b)		40,000		39,843
5.750% 2/01/27 (b)		10,000		10,086
				9,726,222
Retail — 0.2%
Ferrellgas LP/Ferrellgas Finance Corp.
5.375% 4/01/26 (b)		295,000		291,899
5.875% 4/01/29 (b)		510,000		466,144
Michaels Cos., Inc.
5.250% 5/01/28 (b)		556,000		419,785
7.875% 5/01/29 (b)		339,000		205,640
Papa John's International, Inc.
3.875% 9/15/29 (b) (d)		125,000		111,983
				1,495,451
Software — 0.0%
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL
8.750% 5/01/29 (b)		70,000		71,566
Open Text Corp.
6.900% 12/01/27 (b)		125,000		129,166
				200,732
Telecommunications — 0.5%
Altice France SA
8.125% 2/01/27 (b)		135,000		109,445
CommScope LLC
4.750% 9/01/29 (b)		175,000		155,868
Frontier Communications Holdings LLC
8.625% 3/15/31 (b)		355,000		377,561
Global Switch Finance BV
1.375% 10/07/30 EUR (b) (c)		240,000		233,438
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
4.738% 9/20/29 (b)		49,688		49,659
5.152% 9/20/29 (b)		1,309,750		1,314,855
T-Mobile USA, Inc.
4.700% 1/15/35		840,000		794,480
				3,035,306

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Water — 0.1%
Suez SACA
2.875% 5/24/34 EUR (b) (c)	$	400,000	$	389,939
TOTAL CORPORATE DEBT (Cost $99,453,768)				94,625,572
MUNICIPAL OBLIGATIONS — 0.6%
Florida — 0.0%
County of Miami-Dade, FL, Aviation Revenue, Revenue Bonds, Series B,
2.707% 10/01/33		375,000		312,220
New York — 0.6%
City of New York, NY, General Obligation, Series A,
3.000% 8/01/34		945,000		795,308
New York City Transitional Finance Authority, NY, Future Tax Secured Revenue
Revenue Bonds, Series F3, 5.130% 2/01/35		1,033,000		1,022,193
Revenue Bonds, Series F3, 5.150% 2/01/36		1,033,000		1,016,458
New York State Dormitory Authority, Revenue Bonds, Series F,
5.628% 3/15/39		860,000		860,529
				3,694,488
TOTAL MUNICIPAL OBLIGATIONS (Cost $4,330,406)				4,006,708
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 18.7%
Commercial Mortgage-Backed Securities — 3.0%
Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class A, 1 mo. USD Term SOFR + 1.184%
5.582% FRN 8/15/34 (b)		697,299		696,880
BAMLL Commercial Mortgage Securities Trust, Series 2018-PARK, Class A,
4.091% VRN 8/10/38 (b) (e)		1,280,000		1,215,154
BX Commercial Mortgage Trust
Series 2020-VIV4, Class A, 2.843% 3/09/44 (b)		2,870,000		2,525,434
Series 2024-KING, Class B, 1 mo. USD Term SOFR + 1.741% 6.138% FRN 5/15/34 (b)		1,183,420		1,183,050
BX Trust
Series 2019-OC11, Class A, 3.202% 12/09/41 (b)		420,000		379,082
Series 2019-OC11, Class B, 3.605% 12/09/41 (b)		1,110,000		1,013,426
Series 2019-OC11, Class E, 3.944% VRN 12/09/41 (b) (e)		700,000		621,711
Series 2022-VAMF, Class C, 1 mo. USD Term SOFR + 1.580% 5.977% FRN 1/15/39 (b)		1,057,000		1,052,377
Series 2022-PSB, Class D, 1 mo. USD Term SOFR + 4.693% 9.090% FRN 8/15/39 (b)		938,000		940,932
Century Plaza Towers
Series 2019-CPT, Class A, 2.865% 11/13/39 (b)		805,000		698,723
Series 2019-CPT, Class B, 2.997% VRN 11/13/39 (b) (e)		1,000,000		842,076
Citigroup Commercial Mortgage Trust, Series 2020-420K, Class D,
3.312% VRN 11/10/42 (b) (e)		700,000		600,367
DC Office Trust, Series 2019-MTC, Class A
2.965% 9/15/45 (b)		860,000		747,256
GWT Trust, Series 2024-WLF2, Class B, 1 mo. USD Term SOFR + 2.141%
6.538% FRN 5/15/41 (b)		1,532,000		1,539,658
Hudson Yards Mortgage Trust
Series 2019-55HY, Class A, 2.943% VRN 12/10/41 (b) (e)		860,000		765,208
Series 2019-30HY, Class A, 3.228% 7/10/39 (b)		880,000		801,066

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-OSB, Class A
3.397% 6/05/39 (b)	$	900,000	$	812,043
MKT Mortgage Trust, Series 2020-525M, Class A
2.694% 2/12/40 (b)		570,000		471,546
One Bryant Park Trust, Series 2019-OBP, Class A
2.516% 9/15/54 (b)		1,085,000		948,029
SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class A2B,
4.144% VRN 1/05/43 (b) (e)		50,000		42,643
TTAN, Series 2021-MHC, Class E, 1 mo. USD Term SOFR + 2.514%
6.913% FRN 3/15/38 (b)		1,038,210		1,037,885
				18,934,546
Home Equity Asset-Backed Securities — 1.1%
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-W2, Class M1, 1 mo. USD Term SOFR + 0.849%
5.188% FRN 10/25/35		792,284		780,896
Countrywide Asset-Backed Certificates Trust
Series 2007-7, Class 1A, 1 mo. USD Term SOFR + 0.314% 4.653% FRN 10/25/47		2,202,058		2,056,220
Series 2004-5, Class M1, 1 mo. USD Term SOFR + 0.969% 5.308% FRN 8/25/34		25,402		25,249
Morgan Stanley Capital I, Inc. Trust
Series 2006-HE1, Class A4, 1 mo. USD Term SOFR + 0.694% 5.033% FRN 1/25/36		1,468,386		1,393,397
Series 2006-NC2, Class A2D, 1 mo. USD Term SOFR + 0.694% 5.033% FRN 2/25/36		614,805		610,340
Option One Mortgage Loan Trust, Series 2006-3, Class 1A1, 1 mo. USD Term SOFR + 0.394%
4.733% FRN 2/25/37		3,249,615		1,970,893
				6,836,995
Other Asset-Backed Securities — 5.5%
Allegro CLO X Ltd., Series 2019-1A, Class ARR, 3 mo. USD Term SOFR + 1.130%
5.747% FRN 4/20/32 (b)		1,617,611		1,618,328
AMMC CLO 15 Ltd., Series 2014-15A, Class AR3, 3 mo. USD Term SOFR + 1.382%
6.038% FRN 1/15/32 (b)		1,142,131		1,142,968
AMMC CLO 30 Ltd., Series 2024-30A, Class A1, 3 mo. USD Term SOFR + 1.680%
6.336% FRN 1/15/37 (b)		2,400,000		2,415,523
Apidos CLO XXV Ltd., Series 2016-25A, Class A1R3, 3 mo. USD Term SOFR + 1.140%
5.471% FRN 1/20/37 (b)		1,580,000		1,580,000
Barings CLO Ltd.
Series 2019-3A, Class A1RR, 3 mo. USD Term SOFR + 1.140% 5.490% FRN 1/20/36 (b)		1,800,000		1,800,104
Series 2018-4A, Class A1R, 3 mo. USD Term SOFR + 1.150% 5.806% FRN 10/15/30 (b)		1,965,145		1,967,244
Clover CLO Ltd., Series 2019-2A, Class BR, 3 mo. USD Term SOFR + 1.862%
6.488% FRN 10/25/33 (b)		2,400,000		2,401,627
CyrusOne Data Centers Issuer I LLC, Series 2024-1A, Class A2
4.760% 3/22/49 (b)		2,270,000		2,192,202

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
DataBank Issuer LLC, Series 2021-2A, Class A2
2.400% 10/25/51 (b)	$	1,100,000	$	1,040,407
Dryden 45 Senior Loan Fund, Series 2016-45A, Class BRR, 3 mo. USD Term SOFR + 1.650%
6.306% FRN 10/15/30 (b)		1,850,000		1,853,016
GoodLeap Home Improvement Solutions Trust, Series 2024-1A, Class A
5.350% 10/20/46 (b)		1,475,302		1,469,243
LCM 37 Ltd., Series 37A, Class A1R, 3 mo. USD Term SOFR + 1.060%
5.401% FRN 4/15/34 (b)		2,000,000		2,000,350
OCP CLO Ltd., Series 2014-6A, Class A1R2, 3 mo. USD Term SOFR + 1.150%
5.798% FRN 10/17/30 (b)		908,284		908,625
Progress Residential Trust
Series 2021-SFR8, Class C, 1.931% 10/17/38 (b)		2,500,000		2,368,486
Series 2021-SFR10, Class F, 4.608% 12/17/40 (b)		1,056,520		978,037
Rad CLO 4 Ltd., Series 2019-4A, Class AR, 3 mo. USD Term SOFR + 1.230%
5.856% FRN 4/25/32 (b)		1,405,055		1,408,101
Rockford Tower CLO Ltd.
Series 2019-2A, Class AR2, 3 mo. USD Term SOFR + 1.130% 5.651% FRN 8/20/32 (b)		3,616,323		3,619,397
Series 2019-1A, Class AR, 3 mo. USD Term SOFR + 1.382% 5.999% FRN 4/20/34 (b)		2,435,000		2,437,540
Vantage Data Centers Issuer LLC, Series 2020-1A, Class A2
1.645% 9/15/45 (b)		1,062,000		1,036,774
				34,237,972
Student Loans Asset-Backed Securities — 0.8%
Nelnet Student Loan Trust, Series 2005-4, Class A4, 90 day USD SOFR Average + 0.442%
5.198% FRN 3/22/32		1,379,665		1,337,056
SLM Student Loan Trust, Series 2008-5, Class B, 90 day USD SOFR Average + 2.112%
7.295% FRN 7/25/73		3,735,000		3,843,965
				5,181,021
Whole Loan Collateral Collateralized Mortgage Obligations — 8.3%
Ajax Mortgage Loan Trust
Series 2019-F, Class A1, 2.860% STEP 7/25/59 (b)		1,237,547		1,185,894
Series 2022-B, Class A1, 3.500% STEP 3/27/62 (b)		2,250,270		2,145,650
American Home Mortgage Investment Trust, Series 2006-1, Class 12A1, 1 mo. USD Term SOFR + 0.514%
4.853% FRN 3/25/46		1,234,492		1,110,224
Bear Stearns ALT-A Trust, Series 2005-4, Class 25A1,
5.365% VRN 5/25/35 (e)		454,543		423,566
BINOM Securitization Trust, Series 2022-RPL1, Class A1,
3.000% VRN 2/25/61 (b) (e)		2,189,192		1,991,418
CIM Trust
Series 2021-J3, Class A1, 2.500% VRN 6/25/51 (b) (e)		4,802,184		3,849,626
Series 2023-NR1, Class A1, 6.000% STEP 6/25/62 (b)		2,565,263		2,545,718
COLT Mortgage Loan Trust, Series 2023-1, Class A1,
6.048% STEP 4/25/68 (b)		2,019,874		2,027,245
Credit Suisse Mortgage Trust
Series 2021-NQM6, Class A1, 1.174% VRN 7/25/66 (b) (e)		2,444,754		2,039,881
Series 2018-RPL9, Class A, 3.850% VRN 9/25/57 (b) (e)		1,274,544		1,202,709

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2007-OA3, Class A2, 1 mo. USD Term SOFR + 0.614%
4.953% FRN 7/25/47	$	2,646,508	$	2,233,220
First Horizon Alternative Mortgage Securities Trust, Series 2005-AA9, Class 2A1,
5.976% VRN 11/25/35 (e)		950,707		819,696
HarborView Mortgage Loan Trust
Series 2007-6, Class 1A1A, 1 mo. USD Term SOFR + 0.314% 4.681% FRN 8/19/37		2,132,662		1,766,137
Series 2007-3, Class 2A1A, 1 mo. USD Term SOFR + 0.514% 4.881% FRN 5/19/37		2,380,114		2,157,377
Series 2006-10, Class 1A1A, 1 mo. USD Term SOFR + 0.514% 5.125% FRN 11/19/36		2,399,744		1,851,408
HomeBanc Mortgage Trust, Series 2005-5, Class A1, 1 mo. USD Term SOFR + 0.634%
4.973% FRN 1/25/36		1,178,307		1,146,869
JP Morgan Mortgage Trust, Series 2005-A5, Class 1A2,
5.084% VRN 8/25/35 (e)		67,146		65,330
MASTR Adjustable Rate Mortgages Trust, Series 2004-3, Class 4A1,
4.939% VRN 4/25/34 (e)		427,303		385,882
OBX Trust
Series 2021-NQM4, Class A1, 1.957% VRN 10/25/61 (b) (e)		3,331,851		2,754,278
Series 2021-J3, Class A1, 2.500% VRN 10/25/51 (b) (e)		3,804,634		3,049,949
Preston Ridge Partners Mortgage LLC
Series 2022-1, Class A1, 3.720% STEP 2/25/27 (b)		2,918,964		2,907,929
Series 2021-5, Class A1, 4.793% STEP 6/25/26 (b)		2,799,179		2,778,628
Series 2021-6, Class A1, 4.793% STEP 7/25/26 (b)		1,062,481		1,053,677
Series 2022-4, Class A1, 5.000% STEP 8/25/27 (b)		720,583		714,741
RALI Trust, Series 2006-QA7, Class 2A1, 1 mo. USD Term SOFR + 0.484%
4.823% FRN 8/25/36		444,261		383,399
Residential Asset Securitization Trust, Series 2006-A14C, Class 1A1
6.250% 12/25/36		1,772,029		1,229,582
Structured Asset Mortgage Investments II Trust, Series 2006-AR1, Class 3A1, 1 mo. USD Term SOFR + 0.574%
4.913% FRN 2/25/36		1,235,975		1,021,917
VOLT CIII LLC, Series 2021-CF1, Class A1,
4.992% STEP 8/25/51 (b)		1,647,476		1,631,396
Washington Mutual Mortgage Pass-Through Certificates Trust
Series 2006-AR12, Class 1A4, 4.823% VRN 10/25/36 (e)		3,352,545		2,988,630
Series 2005-AR2, Class 2A1A, 1 mo. USD Term SOFR + 0.734% 5.073% FRN 1/25/45		342,599		334,875
Series 2005-7, Class 4CB, 7.000% 8/25/35		2,016,683		1,615,631
Wells Fargo Mortgage-Backed Securities Trust, Series 2007-AR3, Class A4,
6.301% VRN 4/25/37 (e)		521,451		461,857
				51,874,339
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $118,407,569)				117,064,873
SOVEREIGN DEBT OBLIGATIONS — 0.5%
Brazilian Government International Bond
6.125% 3/15/34		480,000		447,638
Costa Rica Government International Bond
6.550% 4/03/34 (b)		300,000		304,950
Guatemala Government Bond
3.700% 10/07/33 (b)		300,000		241,950
Mexico Government International Bond
2.659% 5/24/31		213,000		172,815

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.750% 4/27/32	$	200,000	$	181,199
4.875% 5/19/33		200,000		179,001
Oman Government International Bond
6.750% 10/28/27 (b)		200,000		206,504
Panama Government International Bond
3.160% 1/23/30		225,000		187,810
6.400% 2/14/35		200,000		181,438
Paraguay Government International Bond
4.950% 4/28/31 (b)		200,000		191,313
Perusahaan Penerbit SBSN Indonesia III
2.800% 6/23/30 (b)		200,000		177,250
Republic of South Africa Government International Bond
5.875% 4/20/32		400,000		375,514
Romanian Government International Bond
3.000% 2/14/31 (b)		270,000		218,233
				3,065,615
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $3,315,400)				3,065,615
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (f) — 38.9%
Collateralized Mortgage Obligations — 1.0%
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K155, Class A3 3.750% 4/25/33		2,115,000		1,918,748
Federal National Mortgage Association REMICS
Series 2018-43, Class CT, 3.000% 6/25/48		461,260		398,407
Series 2018-54, Class KA, 3.500% 1/25/47		244,052		239,287
Series 2018-38, Class PA, 3.500% 6/25/47		464,739		443,703
Government National Mortgage Association REMICS
Series 2015-8, Class LZ, 3.000% 11/16/44		740,294		626,953
Series 2018-124, Class NW, 3.500% 9/20/48		426,031		378,390
Series 2019-15, Class GT, 3.500% 2/20/49		464,072		411,233
Series 2024-97, Class FW, 30 day USD SOFR Average + 1.150% 5.755% FRN 6/20/54		1,781,218		1,777,562
				6,194,283
Pass-Through Securities — 37.5%
Federal Home Loan Mortgage Corp.
Pool #SD8199 2.000% 3/01/52		8,956,329		6,968,735
Pool #SD8204 2.000% 4/01/52		2,165,729		1,685,109
Pool #QE0312 2.000% 4/01/52		1,791,026		1,393,561
Pool #RA4179 2.500% 12/01/50		1,964,419		1,599,475
Pool #SD8147 2.500% 5/01/51		2,918,732		2,389,268
Pool #SD8189 2.500% 1/01/52		2,074,734		1,693,186
Pool #SD8194 2.500% 2/01/52		3,415,375		2,787,281
Pool #SD8200 2.500% 3/01/52		2,046,989		1,668,624
Pool #SD8212 2.500% 5/01/52		3,609,527		2,942,344
Pool #G08710 3.000% 6/01/46		48,078		41,752
Pool #G08715 3.000% 8/01/46		1,032,050		896,257
Pool #G08721 3.000% 9/01/46		138,550		120,233
Pool #G08726 3.000% 10/01/46		1,866,569		1,619,808
Pool #G08732 3.000% 11/01/46		1,323,396		1,148,442
Pool #G08741 3.000% 1/01/47		899,190		780,317
Pool #SD3016 3.000% 6/01/52		1,948,706		1,660,144
Pool #SD8220 3.000% 6/01/52		3,520,079		2,988,930

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #G60038 3.500% 1/01/44	$	451,694	$	413,479
Pool #G07848 3.500% 4/01/44		3,423,565		3,139,070
Pool #G07924 3.500% 1/01/45		948,396		865,851
Pool #G60138 3.500% 8/01/45		1,973,630		1,792,910
Pool #G08711 3.500% 6/01/46		785,210		708,403
Pool #G08716 3.500% 8/01/46		1,128,757		1,016,934
Pool #G08792 3.500% 12/01/47		955,479		858,732
Pool #G67707 3.500% 1/01/48		1,295,152		1,174,939
Pool #G67711 4.000% 3/01/48		353,993		330,019
Pool #G67713 4.000% 6/01/48		924,781		861,573
Pool #G67714 4.000% 7/01/48		1,269,548		1,183,568
Pool #G67717 4.000% 11/01/48		1,127,987		1,051,242
Pool #SD3246 4.000% 8/01/52		3,663,140		3,347,902
Pool #SD5202 4.000% 10/01/52		3,589,023		3,282,897
Pool #SD8265 4.000% 11/01/52		3,815,299		3,487,487
Pool #G08843 4.500% 10/01/48		410,915		392,263
Pool #SD8257 4.500% 10/01/52		4,892,847		4,610,967
Pool #G08826 5.000% 6/01/48		135,767		133,706
Pool #G08844 5.000% 10/01/48		47,502		46,707
Federal National Mortgage Association
Pool #MA4093 2.000% 8/01/40		707,722		595,609
Pool #MA4176 2.000% 11/01/40		1,871,556		1,572,595
Pool #MA4333 2.000% 5/01/41		580,101		485,162
Pool #MA4158 2.000% 10/01/50		2,612,698		2,046,766
Pool #BT9728 2.000% 10/01/51		4,631,078		3,609,135
Pool #BQ6913 2.000% 12/01/51		3,900,387		3,039,686
Pool #CB2767 2.000% 1/01/52		3,806,675		2,970,223
Pool #CB2766 2.000% 2/01/52		2,519,410		1,972,110
Pool #MA4577 2.000% 4/01/52		7,558,830		5,881,370
Pool #FS8274 2.000% 4/01/52		2,248,262		1,749,327
Pool #FS1598 2.000% 4/01/52		3,784,075		2,944,311
Pool #FS6925 2.500% 12/01/51		2,360,310		1,921,818
Pool #MA4548 2.500% 2/01/52		3,441,180		2,808,340
Pool #MA4563 2.500% 3/01/52		8,164,747		6,655,578
Pool #MA1607 3.000% 10/01/33		1,334,807		1,249,322
Pool #BN7755 3.000% 9/01/49		1,467,216		1,267,834
Pool #MA3811 3.000% 10/01/49		417,850		355,844
Pool #BO2259 3.000% 10/01/49		2,566,117		2,213,395
Pool #MA4579 3.000% 4/01/52		3,424,046		2,910,598
Pool #BV8526 3.000% 5/01/52		3,989,542		3,387,556
Pool #AB4262 3.500% 1/01/32		799,206		768,580
Pool #MA1148 3.500% 8/01/42		1,897,807		1,728,614
Pool #CA0996 3.500% 1/01/48		66,764		60,152
Pool #MA3276 3.500% 2/01/48		149,288		133,897
Pool #MA3305 3.500% 3/01/48		500,334		448,753
Pool #MA3332 3.500% 4/01/48		20,071		18,001
Pool #CA3633 3.500% 6/01/49		559,869		503,725
Pool #MA4731 3.500% 9/01/52		1,113,766		984,588
Pool #MA2995 4.000% 5/01/47		409,510		379,988
Pool #AS9830 4.000% 6/01/47		233,179		216,369
Pool #MA3027 4.000% 6/01/47		381,807		354,282
Pool #AS9972 4.000% 7/01/47		211,638		196,248
Pool #CB4121 4.000% 7/01/52		4,278,663		3,911,374
Pool #AL9106 4.500% 2/01/46		183,954		177,323
Pool #CA1710 4.500% 5/01/48		741,705		707,087
Pool #CA1711 4.500% 5/01/48		13,014		12,407
Pool #CA2208 4.500% 8/01/48		509,021		485,263
Pool #BW9897 4.500% 10/01/52		1,880,054		1,770,920

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #FS4233 4.500% 12/01/52	$	1,415,653	$	1,334,096
Pool #MA4840 4.500% 12/01/52		5,861,861		5,524,155
Pool #MA4917 4.500% 2/01/53		4,638,860		4,368,713
Pool #FS4701 4.500% 4/01/53		2,029,731		1,910,260
Pool #CB6854 4.500% 8/01/53		2,441,011		2,300,954
Pool #BY0545 5.000% 5/01/53		1,471,667		1,420,483
Pool #FS7252 5.000% 11/01/53		3,260,710		3,148,831
Pool #MA5107 5.500% 8/01/53		4,796,288		4,736,340
Government National Mortgage Association II
Pool #MA4126 3.000% 12/20/46		1,188,781		1,043,945
Pool #MA4836 3.000% 11/20/47		836,615		732,594
Pool #MA6209 3.000% 10/20/49		365,242		311,384
Pool #MA4127 3.500% 12/20/46		807,756		731,249
Pool #MA4382 3.500% 4/20/47		137,168		124,133
Pool #MA4719 3.500% 9/20/47		1,194,506		1,079,876
Pool #MA4837 3.500% 11/20/47		163,593		147,894
Pool #MA4962 3.500% 1/20/48		406,413		367,158
Pool #MA5019 3.500% 2/20/48		559,998		505,908
Pool #MA4838 4.000% 11/20/47		339,569		315,912
Pool #MA4901 4.000% 12/20/47		279,774		260,283
Pool #MA5078 4.000% 3/20/48		226,726		210,859
Pool #MA5466 4.000% 9/20/48		158,540		147,396
Pool #MA5528 4.000% 10/20/48		633,830		589,275
Pool #MA4264 4.500% 2/20/47		175,373		169,111
Pool #MA4512 4.500% 6/20/47		1,052,261		1,012,387
Pool #MA8347 4.500% 10/20/52		4,236,396		4,013,971
Pool #MA3666 5.000% 5/20/46		23,598		23,569
Pool #MA3806 5.000% 7/20/46		156,491		156,329
Pool #MA4072 5.000% 11/20/46		31,034		31,011
Pool #MA4454 5.000% 5/20/47		561,838		558,872
Government National Mortgage Association II, TBA
2.500% 1/20/55 (g)		10,875,000		9,068,670
4.000% 1/20/55 (g)		7,225,000		6,648,647
4.500% 1/20/55 (g)		6,225,000		5,881,612
5.000% 1/20/55 (g)		8,975,000		8,704,663
5.500% 1/20/55 (g)		5,125,000		5,079,125
Uniform Mortgage-Backed Security, TBA
2.000% 1/01/55 (g)		2,325,000		1,806,234
2.500% 1/01/55 (g)		3,200,000		2,602,500
3.000% 1/01/55 (g)		3,350,000		2,841,742
3.500% 1/01/55 (g)		13,575,000		11,994,783
4.000% 1/01/55 (g)		825,000		753,328
4.500% 1/01/55 (g)		5,575,000		5,239,628
5.000% 1/01/55 (g)		8,175,000		7,884,084
5.500% 1/01/55 (g)		5,000,000		4,931,055
				234,289,284
Whole Loans — 0.4%
Federal National Mortgage Association Connecticut Avenue Securities, Series 2022-R03, Class 1M2, 30 day USD SOFR Average + 3.500%
8.069% FRN 3/25/42 (b)		2,400,000		2,517,977
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $256,739,868)				243,001,544

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
U.S. TREASURY OBLIGATIONS — 33.8%
U.S. Treasury Bonds & Notes — 33.8%
U.S. Treasury Bonds
4.125% 8/15/44	$	7,695,000	$	6,969,383
4.500% 11/15/54		32,592,000		31,125,461
4.625% 11/15/44		28,370,000		27,524,245
U.S. Treasury Notes
4.000% 12/15/27		2,515,000		2,495,936
4.125% 11/30/29		7,198,000		7,118,743
4.250% 11/30/26		12,124,000		12,123,582
4.250% 12/31/26		55,015,000		55,023,648
4.250% 11/15/34		32,581,000		31,751,214
4.375% 12/31/29		37,230,000		37,218,172
				211,350,384
TOTAL U.S. TREASURY OBLIGATIONS (Cost $215,145,407)				211,350,384
TOTAL BONDS & NOTES (Cost $706,432,214)				681,856,038
	Number of Shares
EQUITIES — 0.1%
COMMON STOCK — 0.1%
Communication Services — 0.1%
Intelsat SA (h)		16,791		498,827
TOTAL COMMON STOCK (Cost $1,575,355)				498,827
TOTAL EQUITIES (Cost $1,575,355)				498,827
TOTAL LONG-TERM INVESTMENTS (Cost $708,007,569)				682,354,865
SHORT-TERM INVESTMENTS — 5.2%
Investment of Cash Collateral from Securities Loaned — 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (i)		1,594,598		1,594,598
	Principal Amount
Repurchase Agreement — 2.4%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (j)	$	14,961,276		14,961,276
U.S. Treasury Bills — 2.5%
U.S. Treasury Bills
4.293% 1/14/25 (k)		3,430,000		3,425,230
4.602% 1/23/25 (k)		12,435,000		12,403,917
				15,829,147
TOTAL SHORT-TERM INVESTMENTS (Cost $32,381,526)				32,385,021

MassMutual Total Return Bond Fund —  Portfolio of Investments (Continued)

	Value
TOTAL INVESTMENTS — 114.4% (Cost $740,389,095) (l)	$	714,739,886
Other Assets/(Liabilities) — (14.4)%		(90,155,018)
NET ASSETS — 100.0%	$	624,584,868

Abbreviation Legend

CLO Collateralized Loan Obligation

CMT Constant Maturity Treasury Index

FRN Floating Rate Note^

LIBOR London InterBank Offered Rate

PIK Payment in kind^^

REMICS Real Estate Mortgage Investment Conduits

SOFR Secured Overnight Financing Rate

STEP Step Coupon Bond

TBA To Be Announced

VRN Variable Rate Note^

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(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 December 31, 2024, the aggregate market value of these securities amounted to $122,860,691 or 19.67% of net assets.

(c) The principal amount of the security is in foreign currency. The market value is in U.S. dollars.

(d) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2024, was $1,769,449 or 0.28% of net assets. The Fund received $212,959 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).

(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 December 31, 2024.

(f) 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.

(g) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis.

(h) Non-income producing security.

(i) Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2024. (Note 2).

(j) Maturity value of $14,963,561. Collateralized by U.S. Government Agency obligations with a rate of 4.000%, maturity date of 1/15/27, and an aggregate market value, including accrued interest, of $15,260,687.

(k) The rate shown represents yield-to-maturity.

(l) See Note 3 for aggregate cost for federal tax purposes.

^ Floating rate or variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^^ Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Bank of America N.A.	1/17/25	EUR	319,000	USD	342,447	$	(11,826)
Bank of New York	1/17/25	GBP	90,000	USD	113,700		(1,043)
Bank of New York	1/17/25	EUR	228,000	USD	240,639		(4,333)
Citibank N.A.	1/17/25	EUR	232,000	USD	253,943		(13,492)
Citibank N.A.	1/17/25	USD	12,820,337	EUR	11,629,000		767,711
Citibank N.A.	1/17/25	USD	182,765	GBP	144,000		2,513
Goldman Sachs International	1/17/25	EUR	554,000	USD	585,991		(11,809)
Goldman Sachs International	1/17/25	USD	701,367	GBP	536,000		30,430
Goldman Sachs International	1/17/25	GBP	183,000	USD	231,035		(1,965)
Goldman Sachs International	1/17/25	USD	1,080,712	EUR	1,012,000		31,846
						$	788,032

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/Net Unrealized Appreciation (Depreciation)
Long
U.S. Treasury Note 2 Year	3/31/25		806	$	165,662,650	$	58,507
U.S. Treasury Note 5 Year	3/31/25		908		96,948,857		(424,200)
						$	(365,693)
Short
Euro-Schatz	3/06/25		1	$	(111,311)	$	491
Euro-BOBL	3/06/25		20		(2,471,306)		29,601
Euro-Bund	3/06/25		40		(5,680,965)		152,013
Euro-Buxl 30 Year Bond	3/06/25		11		(1,610,697)		98,895
U.S. Treasury Ultra 10 Year	3/20/25		55		(6,192,929)		70,740
UK Long Gilt	3/27/25		5		(590,416)		11,976
						$	363,716

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 3.520%

Annually

12-Month USD SOFR

Annually

12/20/53

USD

4,836,000

$

354,658

$

—

$

354,658

Currency Legend

EUR Euro

GBP British Pound

USD U.S. Dollar

MassMutual Diversified Value Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.2%
COMMON STOCK — 98.2%
Communication Services — 5.7%
AT&T, Inc.		437,700	$	9,966,429
Comcast Corp. Class A		225,900		8,478,027
Fox Corp. Class A		21,400		1,039,612
Interpublic Group of Cos., Inc.		22,900		641,658
Match Group, Inc. (a)		7,000		228,970
Omnicom Group, Inc.		13,900		1,195,956
Verizon Communications, Inc.		257,700		10,305,423
Walt Disney Co.		23,700		2,638,995
				34,495,070
Consumer Discretionary — 7.6%
ADT, Inc.		49,200		339,972
AutoNation, Inc. (a)		5,100		866,184
AutoZone, Inc. (a)		987		3,160,374
Best Buy Co., Inc.		13,100		1,123,980
BorgWarner, Inc.		12,400		394,196
CarMax, Inc. (a)		9,600		784,896
Darden Restaurants, Inc.		7,100		1,325,499
Dick's Sporting Goods, Inc.		3,500		800,940
DR Horton, Inc.		22,700		3,173,914
eBay, Inc.		30,700		1,901,865
Expedia Group, Inc. (a)		7,800		1,453,374
Ford Motor Co.		247,800		2,453,220
General Motors Co.		73,700		3,925,999
Gentex Corp.		13,200		379,236
H&R Block, Inc.		8,500		449,140
Hasbro, Inc.		8,500		475,235
Lennar Corp. Class A		17,600		2,400,112
Lithia Motors, Inc.		1,600		571,888
Lowe's Cos., Inc.		46,900		11,574,920
Mohawk Industries, Inc. (a)		3,800		452,694
Murphy USA, Inc.		1,150		577,013
NVR, Inc. (a)		150		1,226,835
Penske Automotive Group, Inc.		4,100		625,004
PulteGroup, Inc.		16,900		1,840,410
Ralph Lauren Corp.		2,600		600,548
Skechers USA, Inc. Class A (a)		8,100		544,644
Toll Brothers, Inc.		6,100		768,295
TopBuild Corp. (a)		900		280,206
Williams-Sonoma, Inc.		6,900		1,277,742
Wynn Resorts Ltd.		6,100		525,576
				46,273,911
Consumer Staples — 6.5%
Altria Group, Inc.		105,200		5,500,908

MassMutual Diversified Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
BJ's Wholesale Club Holdings, Inc. (a)		3,900	$	348,465
Bunge Global SA		5,100		396,576
Campbell's Co.		18,300		766,404
Coca-Cola Consolidated, Inc.		510		642,595
Conagra Brands, Inc.		29,300		813,075
Constellation Brands, Inc. Class A		2,300		508,300
General Mills, Inc.		33,400		2,129,918
Hormel Foods Corp.		7,000		219,590
Ingredion, Inc.		3,900		536,484
Keurig Dr. Pepper, Inc.		81,600		2,620,992
Kimberly-Clark Corp.		20,000		2,620,800
Kraft Heinz Co.		63,900		1,962,369
Kroger Co.		36,300		2,219,745
PepsiCo, Inc.		29,900		4,546,594
Philip Morris International, Inc.		95,300		11,469,355
Sysco Corp.		30,600		2,339,676
				39,641,846
Energy — 4.7%
Antero Midstream Corp.		27,800		419,502
Baker Hughes Co.		59,500		2,440,690
Cheniere Energy, Inc.		14,000		3,008,180
Chevron Corp.		91,200		13,209,408
DT Midstream, Inc. (a)		2,700		268,461
EOG Resources, Inc.		36,800		4,510,944
Kinder Morgan, Inc.		136,000		3,726,400
Range Resources Corp.		14,500		521,710
TechnipFMC PLC		23,300		674,302
				28,779,597
Financials — 32.7%
Aflac, Inc.		34,600		3,579,024
Ally Financial, Inc.		14,400		518,544
American Express Co.		38,100		11,307,699
American Financial Group, Inc.		4,400		602,492
American International Group, Inc.		34,900		2,540,720
Ameriprise Financial, Inc.		5,550		2,954,986
Apollo Global Management, Inc.		29,900		4,938,284
Arch Capital Group Ltd.		19,800		1,828,530
Assurant, Inc.		2,600		554,372
Bank of America Corp.		409,600		18,001,920
Bank of New York Mellon Corp.		44,000		3,380,520
Capital One Financial Corp.		18,500		3,298,920
Chubb Ltd.		22,200		6,133,860
Cincinnati Financial Corp.		8,200		1,178,340
Citigroup, Inc.		93,500		6,581,465
Citizens Financial Group, Inc.		23,900		1,045,864
Commerce Bancshares, Inc.		7,145		445,205
Corpay, Inc. (a)		3,700		1,252,154
Cullen/Frost Bankers, Inc.		2,700		362,475
Discover Financial Services		14,400		2,494,512
East West Bancorp, Inc.		7,300		699,048
Equitable Holdings, Inc.		22,000		1,037,740
Everest Group Ltd.		1,200		434,952
Fidelity National Financial, Inc.		14,300		802,802
Fifth Third Bancorp		29,400		1,243,032
First Citizens BancShares, Inc. Class A		777		1,641,817

MassMutual Diversified Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
First Horizon Corp.		14,600	$	294,044
Goldman Sachs Group, Inc.		17,510		10,026,576
Hartford Financial Services Group, Inc.		17,500		1,914,500
Huntington Bancshares, Inc.		76,200		1,239,774
JP Morgan Chase & Co.		141,800		33,990,878
Loews Corp.		13,400		1,134,846
LPL Financial Holdings, Inc.		3,900		1,273,389
M&T Bank Corp.		7,300		1,372,473
Markel Group, Inc. (a)		670		1,156,574
MetLife, Inc.		44,900		3,676,412
Morgan Stanley		88,200		11,088,504
Northern Trust Corp.		10,800		1,107,000
Old Republic International Corp.		15,700		568,183
PayPal Holdings, Inc. (a)		55,100		4,702,785
PNC Financial Services Group, Inc.		20,900		4,030,565
Primerica, Inc.		1,800		488,556
Principal Financial Group, Inc.		13,900		1,075,999
Progressive Corp.		16,100		3,857,721
Prudential Financial, Inc.		19,900		2,358,747
Raymond James Financial, Inc.		11,000		1,708,630
Regions Financial Corp.		48,300		1,136,016
Reinsurance Group of America, Inc.		3,300		704,979
SEI Investments Co.		6,800		560,864
State Street Corp.		17,900		1,756,885
Stifel Financial Corp.		5,400		572,832
Synchrony Financial		22,600		1,469,000
T. Rowe Price Group, Inc.		11,800		1,334,462
Travelers Cos., Inc.		22,500		5,420,025
Unum Group		10,500		766,815
US Bancorp		42,700		2,042,341
Voya Financial, Inc.		2,800		192,724
W. R. Berkley Corp.		20,800		1,217,216
Webster Financial Corp.		9,100		502,502
Wells Fargo & Co.		183,500		12,889,040
Willis Towers Watson PLC		5,400		1,691,496
Zions Bancorp NA		4,000		217,000
				198,399,630
Health Care — 15.0%
AbbVie, Inc.		108,100		19,209,370
Bio-Rad Laboratories, Inc. Class A (a)		1,500		492,765
Cardinal Health, Inc.		14,900		1,762,223
Cencora, Inc.		13,200		2,965,776
Cigna Group		17,400		4,804,836
DaVita, Inc. (a)		5,100		762,705
Gilead Sciences, Inc.		75,000		6,927,750
HCA Healthcare, Inc.		20,850		6,258,127
Henry Schein, Inc. (a)		7,700		532,840
Johnson & Johnson		131,600		19,031,992
Labcorp Holdings, Inc.		6,100		1,398,852
McKesson Corp.		10,490		5,978,356
Medtronic PLC		78,700		6,286,556
Quest Diagnostics, Inc.		8,900		1,342,654
Tenet Healthcare Corp. (a)		5,000		631,150
United Therapeutics Corp. (a)		2,800		987,952
UnitedHealth Group, Inc.		20,100		10,167,786
Universal Health Services, Inc. Class B		4,700		843,274

MassMutual Diversified Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Viatris, Inc.		73,000	$	908,850
				91,293,814
Industrials — 12.3%
3M Co.		11,800		1,523,262
Acuity Brands, Inc.		1,900		555,047
Allegion PLC		5,200		679,536
Allison Transmission Holdings, Inc.		5,300		572,718
Builders FirstSource, Inc. (a)		7,500		1,071,975
Caterpillar, Inc.		29,950		10,864,662
CSX Corp.		119,700		3,862,719
Cummins, Inc.		8,400		2,928,240
Deere & Co.		14,970		6,342,789
Delta Air Lines, Inc.		39,500		2,389,750
Dover Corp.		6,500		1,219,400
FedEx Corp.		14,900		4,191,817
Fortune Brands Innovations, Inc.		7,200		491,976
Genpact Ltd.		10,700		459,565
Johnson Controls International PLC		33,100		2,612,583
L3Harris Technologies, Inc.		11,500		2,418,220
Leidos Holdings, Inc.		8,400		1,210,104
Lockheed Martin Corp.		14,240		6,919,786
Masco Corp.		16,400		1,190,148
Middleby Corp. (a)		2,800		379,260
Oshkosh Corp.		4,000		380,280
Owens Corning		6,700		1,141,144
PACCAR, Inc.		32,200		3,349,444
RTX Corp.		75,730		8,763,475
Snap-on, Inc.		3,300		1,120,284
Textron, Inc.		14,400		1,101,456
Toro Co.		2,300		184,230
U-Haul Holding Co. (UHAL US) (a) (b)		900		62,181
U-Haul Holding Co. (UHAL/B US)		12,100		775,005
UFP Industries, Inc.		3,900		439,335
United Airlines Holdings, Inc. (a)		20,100		1,951,710
United Rentals, Inc.		3,900		2,747,316
WESCO International, Inc.		3,200		579,072
				74,478,489
Information Technology — 8.1%
Amkor Technology, Inc.		12,900		331,401
Cisco Systems, Inc.		239,700		14,190,240
Cognizant Technology Solutions Corp. Class A		30,400		2,337,760
Dell Technologies, Inc. Class C		18,200		2,097,368
Dropbox, Inc. Class A (a)		13,900		417,556
First Solar, Inc. (a)		6,400		1,127,936
Gen Digital, Inc.		38,300		1,048,654
Hewlett Packard Enterprise Co.		81,800		1,746,430
HP, Inc.		81,600		2,662,608
International Business Machines Corp.		42,000		9,232,860
Jabil, Inc.		6,100		877,790
NetApp, Inc.		4,400		510,752
ON Semiconductor Corp. (a)		23,500		1,481,675
QUALCOMM, Inc.		66,800		10,261,816
TD SYNNEX Corp.		5,300		621,584
				48,946,430

MassMutual Diversified Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Materials — 1.6%
Amcor PLC		88,400	$	831,844
Berry Global Group, Inc.		6,100		394,487
CF Industries Holdings, Inc.		10,500		895,860
Commercial Metals Co.		2,400		119,040
Corteva, Inc.		15,000		854,400
Crown Holdings, Inc.		8,800		727,672
Eagle Materials, Inc.		2,100		518,196
Eastman Chemical Co.		7,100		648,372
Graphic Packaging Holding Co.		18,900		513,324
International Paper Co.		17,000		914,940
PPG Industries, Inc.		5,600		668,920
Reliance, Inc.		3,900		1,050,114
Steel Dynamics, Inc.		13,600		1,551,352
				9,688,521
Utilities — 4.0%
Consolidated Edison, Inc.		21,100		1,882,753
Dominion Energy, Inc.		51,300		2,763,018
Duke Energy Corp.		47,300		5,096,102
Edison International		17,600		1,405,184
Evergy, Inc.		14,000		861,700
NRG Energy, Inc.		12,800		1,154,816
OGE Energy Corp.		12,300		507,375
Pinnacle West Capital Corp.		6,900		584,913
PPL Corp.		45,300		1,470,438
Public Service Enterprise Group, Inc.		33,000		2,788,170
Sempra		32,500		2,850,900
Southern Co.		29,800		2,453,136
WEC Energy Group, Inc.		8,600		808,744
				24,627,249
TOTAL COMMON STOCK (Cost $529,998,665)				596,624,557
TOTAL EQUITIES (Cost $529,998,665)				596,624,557
EXCHANGE-TRADED FUNDS — 1.3%
iShares Russell 1000 Value ETF		40,730		7,540,345
TOTAL EXCHANGE-TRADED FUNDS (Cost $7,525,273)				7,540,345
TOTAL LONG-TERM INVESTMENTS (Cost $537,523,938)				604,164,902
SHORT-TERM INVESTMENTS — 0.5%
	Principal Amount
Repurchase Agreement — 0.5%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (c)	$	3,086,008		3,086,008
TOTAL SHORT-TERM INVESTMENTS (Cost $3,086,008)				3,086,008

MassMutual Diversified Value Fund —  Portfolio of Investments (Continued)

	Value
TOTAL INVESTMENTS — 100.0% (Cost $540,609,946) (d)	$	607,250,910
Other Assets/(Liabilities) — 0.0%		177,408
NET ASSETS — 100.0%	$	607,428,318

Abbreviation Legend

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 December 31, 2024, was $61,559 or 0.01% of net assets. The Fund received $62,771 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 $3,086,480. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $3,147,750.

(d) See Note 3 for aggregate cost for federal tax purposes.

MM S&P 500 Index Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 100.6%
COMMON STOCK — 100.6%
Communication Services — 9.4%
Alphabet, Inc. Class A		269,008	$	50,923,214
Alphabet, Inc. Class C		219,260		41,755,874
AT&T, Inc.		330,436		7,524,028
Charter Communications, Inc. Class A (a)		4,473		1,533,210
Comcast Corp. Class A		175,366		6,581,486
Electronic Arts, Inc.		11,074		1,620,126
Fox Corp. Class A		10,365		503,532
Fox Corp. Class B		6,072		277,733
Interpublic Group of Cos., Inc.		17,480		489,790
Live Nation Entertainment, Inc. (a)		7,218		934,731
Match Group, Inc. (a)		11,870		388,268
Meta Platforms, Inc. Class A		100,422		58,798,085
Netflix, Inc. (a)		19,687		17,547,417
News Corp. Class A		17,556		483,492
News Corp. Class B		5,057		153,885
Omnicom Group, Inc.		9,011		775,307
Paramount Global Class B		27,082		283,278
T-Mobile US, Inc.		22,399		4,944,131
Take-Two Interactive Software, Inc. (a)		7,514		1,383,177
Verizon Communications, Inc.		193,995		7,757,860
Walt Disney Co.		83,255		9,270,444
Warner Bros Discovery, Inc. (a)		102,828		1,086,892
				215,015,960
Consumer Discretionary — 11.3%
Airbnb, Inc. Class A (a)		19,811		2,603,364
Amazon.com, Inc. (a)		431,003		94,557,748
Aptiv PLC (a)		11,246		680,158
AutoZone, Inc. (a)		774		2,478,348
Best Buy Co., Inc.		9,043		775,889
Booking Holdings, Inc.		1,521		7,556,967
BorgWarner, Inc.		10,460		332,523
Caesars Entertainment, Inc. (a)		9,947		332,429
CarMax, Inc. (a)		7,193		588,100
Carnival Corp. (a)		47,920		1,194,166
Chipotle Mexican Grill, Inc. (a)		62,496		3,768,509
Darden Restaurants, Inc.		5,455		1,018,394
Deckers Outdoor Corp. (a)		7,026		1,426,910
Domino's Pizza, Inc.		1,611		676,233
DR Horton, Inc.		13,515		1,889,667
eBay, Inc.		21,803		1,350,696
Expedia Group, Inc. (a)		5,745		1,070,466
Ford Motor Co.		179,976		1,781,762
Garmin Ltd.		7,087		1,461,765
General Motors Co.		50,318		2,680,440
Genuine Parts Co.		6,459		754,153

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Hasbro, Inc.		6,035	$	337,417
Hilton Worldwide Holdings, Inc.		11,161		2,758,553
Home Depot, Inc.		45,783		17,809,129
Las Vegas Sands Corp.		16,278		836,038
Lennar Corp. Class A		10,889		1,484,933
LKQ Corp.		12,220		449,085
Lowe's Cos., Inc.		26,062		6,432,102
Lululemon Athletica, Inc. (a)		5,160		1,973,236
Marriott International, Inc. Class A		10,565		2,947,001
McDonald's Corp.		33,057		9,582,894
MGM Resorts International (a)		10,706		370,963
Mohawk Industries, Inc. (a)		2,417		287,937
NIKE, Inc. Class B		54,620		4,133,095
Norwegian Cruise Line Holdings Ltd. (a)		20,511		527,748
NVR, Inc. (a)		142		1,161,404
O'Reilly Automotive, Inc. (a)		2,673		3,169,643
Pool Corp.		1,762		600,736
PulteGroup, Inc.		9,548		1,039,777
Ralph Lauren Corp.		1,845		426,158
Ross Stores, Inc.		15,368		2,324,717
Royal Caribbean Cruises Ltd.		11,405		2,631,019
Starbucks Corp.		52,223		4,765,349
Tapestry, Inc.		10,632		694,589
Tesla, Inc. (a)		128,625		51,943,920
TJX Cos., Inc.		52,077		6,291,422
Tractor Supply Co.		24,845		1,318,276
Ulta Beauty, Inc. (a)		2,198		955,976
Wynn Resorts Ltd.		4,304		370,833
Yum! Brands, Inc.		12,975		1,740,726
				258,343,363
Consumer Staples — 5.6%
Altria Group, Inc.		77,747		4,065,391
Archer-Daniels-Midland Co.		22,029		1,112,905
Brown-Forman Corp. Class B		8,542		324,425
Bunge Global SA		6,592		512,594
Campbell's Co.		9,091		380,731
Church & Dwight Co., Inc.		11,253		1,178,302
Clorox Co.		5,682		922,814
Coca-Cola Co.		178,769		11,130,158
Colgate-Palmolive Co.		37,653		3,423,034
Conagra Brands, Inc.		22,268		617,937
Constellation Brands, Inc. Class A		7,212		1,593,852
Costco Wholesale Corp.		20,388		18,680,913
Dollar General Corp.		10,131		768,132
Dollar Tree, Inc. (a)		9,309		697,616
Estee Lauder Cos., Inc. Class A		10,737		805,060
General Mills, Inc.		25,620		1,633,787
Hershey Co.		6,802		1,151,919
Hormel Foods Corp.		13,380		419,731
J.M. Smucker Co.		4,901		539,698
Kellanova		12,364		1,001,113
Kenvue, Inc.		88,264		1,884,436
Keurig Dr. Pepper, Inc.		51,820		1,664,458
Kimberly-Clark Corp.		15,232		1,996,001
Kraft Heinz Co.		40,650		1,248,362
Kroger Co.		30,590		1,870,578
Lamb Weston Holdings, Inc.		6,620		442,415

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
McCormick & Co., Inc.		11,611	$	885,223
Molson Coors Beverage Co. Class B		8,076		462,916
Mondelez International, Inc. Class A		61,551		3,676,441
Monster Beverage Corp. (a)		32,478		1,707,044
PepsiCo, Inc.		63,301		9,625,550
Philip Morris International, Inc.		71,656		8,623,800
Procter & Gamble Co.		108,489		18,188,181
Sysco Corp.		22,639		1,730,978
Target Corp.		21,318		2,881,767
Tyson Foods, Inc. Class A		13,239		760,448
Walgreens Boots Alliance, Inc.		32,817		306,183
Walmart, Inc.		199,826		18,054,279
				126,969,172
Energy — 3.2%
APA Corp.		17,033		393,292
Baker Hughes Co.		45,796		1,878,552
Chevron Corp.		76,858		11,132,113
ConocoPhillips		59,519		5,902,499
Coterra Energy, Inc.		34,088		870,608
Devon Energy Corp.		29,936		979,805
Diamondback Energy, Inc.		8,635		1,414,672
EOG Resources, Inc.		25,820		3,165,016
EQT Corp.		27,314		1,259,449
Exxon Mobil Corp.		202,427		21,775,072
Halliburton Co.		40,690		1,106,361
Hess Corp.		12,742		1,694,813
Kinder Morgan, Inc.		89,002		2,438,655
Marathon Petroleum Corp.		14,682		2,048,139
Occidental Petroleum Corp.		31,036		1,533,489
ONEOK, Inc.		26,919		2,702,668
Phillips 66		18,877		2,150,657
Schlumberger NV		65,439		2,508,931
Targa Resources Corp.		10,101		1,803,028
Texas Pacific Land Corp.		869		961,079
Valero Energy Corp.		14,448		1,771,180
Williams Cos., Inc.		56,181		3,040,516
				72,530,594
Financials — 13.7%
Aflac, Inc.		22,865		2,365,156
Allstate Corp.		12,172		2,346,640
American Express Co.		25,637		7,608,805
American International Group, Inc.		28,495		2,074,436
Ameriprise Financial, Inc.		4,460		2,374,638
Aon PLC Class A		9,914		3,560,712
Apollo Global Management, Inc.		20,662		3,412,536
Arch Capital Group Ltd.		17,262		1,594,146
Arthur J Gallagher & Co.		11,502		3,264,843
Assurant, Inc.		2,386		508,743
Bank of America Corp.		307,061		13,495,331
Bank of New York Mellon Corp.		33,274		2,556,441
Berkshire Hathaway, Inc. Class B (a)		84,420		38,265,898
Blackrock, Inc.		6,689		6,856,961
Blackstone, Inc.		33,186		5,721,930
Brown & Brown, Inc.		10,919		1,113,956
Capital One Financial Corp.		17,598		3,138,075

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Cboe Global Markets, Inc.		4,822	$	942,219
Charles Schwab Corp.		68,848		5,095,440
Chubb Ltd.		17,314		4,783,858
Cincinnati Financial Corp.		7,202		1,034,927
Citigroup, Inc.		86,868		6,114,639
Citizens Financial Group, Inc.		20,492		896,730
CME Group, Inc.		16,594		3,853,625
Corpay, Inc. (a)		3,200		1,082,944
Discover Financial Services		11,572		2,004,618
Erie Indemnity Co. Class A		1,165		480,248
Everest Group Ltd.		1,994		722,745
FactSet Research Systems, Inc.		1,753		841,931
Fidelity National Information Services, Inc.		24,595		1,986,538
Fifth Third Bancorp		31,182		1,318,375
Fiserv, Inc. (a)		26,120		5,365,570
Franklin Resources, Inc.		14,368		291,527
Global Payments, Inc.		11,725		1,313,904
Globe Life, Inc.		3,710		413,739
Goldman Sachs Group, Inc.		14,433		8,264,624
Hartford Financial Services Group, Inc.		13,484		1,475,150
Huntington Bancshares, Inc.		66,986		1,089,862
Intercontinental Exchange, Inc.		26,459		3,942,656
Invesco Ltd.		20,896		365,262
Jack Henry & Associates, Inc.		3,357		588,482
JP Morgan Chase & Co.		129,588		31,063,540
KeyCorp.		44,748		766,981
KKR & Co., Inc.		31,083		4,597,487
Loews Corp.		8,409		712,158
M&T Bank Corp.		7,687		1,445,233
MarketAxess Holdings, Inc.		1,752		396,022
Marsh & McLennan Cos., Inc.		22,669		4,815,122
Mastercard, Inc. Class A		37,719		19,861,694
MetLife, Inc.		26,583		2,176,616
Moody's Corp.		7,143		3,381,282
Morgan Stanley		57,001		7,166,166
MSCI, Inc.		3,628		2,176,836
Nasdaq, Inc.		19,033		1,471,441
Northern Trust Corp.		9,288		952,020
PayPal Holdings, Inc. (a)		45,990		3,925,247
PNC Financial Services Group, Inc.		18,326		3,534,169
Principal Financial Group, Inc.		9,813		759,624
Progressive Corp.		26,994		6,468,032
Prudential Financial, Inc.		16,499		1,955,626
Raymond James Financial, Inc.		8,543		1,326,984
Regions Financial Corp.		42,208		992,732
S&P Global, Inc.		14,589		7,265,760
State Street Corp.		13,333		1,308,634
Synchrony Financial		17,685		1,149,525
T. Rowe Price Group, Inc.		10,254		1,159,625
Travelers Cos., Inc.		10,505		2,530,549
Truist Financial Corp.		60,771		2,636,246
US Bancorp		71,926		3,440,221
Visa, Inc. Class A		79,534		25,135,925
W. R. Berkley Corp.		13,715		802,602
Wells Fargo & Co.		153,102		10,753,884
Willis Towers Watson PLC		4,681		1,466,276
				312,123,119

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Health Care — 10.2%
Abbott Laboratories		79,732	$	9,018,487
AbbVie, Inc.		81,405		14,465,668
Agilent Technologies, Inc.		13,112		1,761,466
Align Technology, Inc. (a)		3,264		680,577
Amgen, Inc.		24,763		6,454,228
Baxter International, Inc.		23,507		685,464
Becton Dickinson & Co.		13,320		3,021,908
Bio-Techne Corp.		7,262		523,082
Biogen, Inc. (a)		6,711		1,026,246
Boston Scientific Corp. (a)		67,878		6,062,863
Bristol-Myers Squibb Co.		93,436		5,284,740
Cardinal Health, Inc.		11,240		1,329,355
Cencora, Inc.		8,041		1,806,652
Centene Corp. (a)		22,965		1,391,220
Charles River Laboratories International, Inc. (a)		2,379		439,163
Cigna Group		12,748		3,520,233
Cooper Cos., Inc. (a)		9,178		843,734
CVS Health Corp.		57,973		2,602,408
Danaher Corp.		29,623		6,799,960
DaVita, Inc. (a)		2,103		314,504
Dexcom, Inc. (a)		17,782		1,382,906
Edwards Lifesciences Corp. (a)		26,968		1,996,441
Elevance Health, Inc.		10,686		3,942,065
Eli Lilly & Co.		36,282		28,009,704
GE HealthCare Technologies, Inc. (a)		21,080		1,648,034
Gilead Sciences, Inc.		57,378		5,300,006
HCA Healthcare, Inc.		8,345		2,504,752
Henry Schein, Inc. (a)		5,841		404,197
Hologic, Inc. (a)		10,706		771,796
Humana, Inc.		5,549		1,407,837
IDEXX Laboratories, Inc. (a)		3,793		1,568,178
Incyte Corp. (a)		7,369		508,977
Insulet Corp. (a)		3,232		843,778
Intuitive Surgical, Inc. (a)		16,412		8,566,408
IQVIA Holdings, Inc. (a)		7,981		1,568,346
Johnson & Johnson		110,940		16,044,143
Labcorp Holdings, Inc.		3,869		887,239
McKesson Corp.		5,819		3,316,306
Medtronic PLC		59,109		4,721,627
Merck & Co., Inc.		116,334		11,572,906
Mettler-Toledo International, Inc. (a)		978		1,196,759
Moderna, Inc. (a)		15,588		648,149
Molina Healthcare, Inc. (a)		2,578		750,327
Pfizer, Inc.		261,145		6,928,177
Quest Diagnostics, Inc.		5,130		773,912
Regeneron Pharmaceuticals, Inc. (a)		4,826		3,437,705
ResMed, Inc.		6,772		1,548,689
Revvity, Inc.		5,684		634,391
Solventum Corp. (a)		6,366		420,538
STERIS PLC		4,545		934,270
Stryker Corp.		15,802		5,689,510
Teleflex, Inc.		2,175		387,107
Thermo Fisher Scientific, Inc.		17,605		9,158,649
UnitedHealth Group, Inc.		42,349		21,422,665
Universal Health Services, Inc. Class B		2,763		495,737
Vertex Pharmaceuticals, Inc. (a)		11,895		4,790,117
Viatris, Inc.		55,014		684,924

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Waters Corp. (a)		2,736	$	1,015,001
West Pharmaceutical Services, Inc.		3,320		1,087,499
Zimmer Biomet Holdings, Inc.		9,015		952,254
Zoetis, Inc.		20,880		3,401,978
				231,355,962
Industrials — 8.2%
3M Co.		24,950		3,220,796
A.O. Smith Corp.		5,508		375,701
Allegion PLC		4,015		524,680
AMETEK, Inc.		10,677		1,924,636
Automatic Data Processing, Inc.		18,793		5,501,275
Axon Enterprise, Inc. (a)		3,309		1,966,605
Boeing Co. (a)		34,333		6,076,941
Broadridge Financial Solutions, Inc.		5,379		1,216,138
Builders FirstSource, Inc. (a)		5,323		760,816
C.H. Robinson Worldwide, Inc.		5,404		558,341
Carrier Global Corp.		38,193		2,607,054
Caterpillar, Inc.		22,191		8,050,007
Cintas Corp.		15,791		2,885,016
Copart, Inc. (a)		40,359		2,316,203
CSX Corp.		89,353		2,883,421
Cummins, Inc.		6,316		2,201,758
Dayforce, Inc. (a) (b)		7,287		529,328
Deere & Co.		11,681		4,949,240
Delta Air Lines, Inc.		29,551		1,787,836
Dover Corp.		6,333		1,188,071
Eaton Corp. PLC		18,153		6,024,436
Emerson Electric Co.		26,394		3,271,008
Equifax, Inc.		5,702		1,453,155
Expeditors International of Washington, Inc.		6,502		720,227
Fastenal Co.		26,419		1,899,790
FedEx Corp.		10,386		2,921,893
Fortive Corp.		16,144		1,210,800
GE Vernova, Inc.		12,665		4,165,898
Generac Holdings, Inc. (a)		2,772		429,799
General Dynamics Corp.		11,882		3,130,788
General Electric Co.		49,744		8,296,802
Honeywell International, Inc.		30,010		6,778,959
Howmet Aerospace, Inc.		18,829		2,059,328
Hubbell, Inc.		2,473		1,035,915
Huntington Ingalls Industries, Inc.		1,806		341,280
IDEX Corp.		3,488		730,004
Illinois Tool Works, Inc.		12,314		3,122,338
Ingersoll Rand, Inc.		18,595		1,682,104
Jacobs Solutions, Inc.		5,770		770,987
JB Hunt Transport Services, Inc.		3,712		633,490
Johnson Controls International PLC		30,785		2,429,860
L3Harris Technologies, Inc.		8,750		1,839,950
Leidos Holdings, Inc.		6,208		894,324
Lennox International, Inc.		1,476		899,327
Lockheed Martin Corp.		9,682		4,704,871
Masco Corp.		10,054		729,619
Nordson Corp.		2,506		524,355
Norfolk Southern Corp.		10,420		2,445,574
Northrop Grumman Corp.		6,335		2,972,952
Old Dominion Freight Line, Inc.		8,692		1,533,269
Otis Worldwide Corp.		18,495		1,712,822

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
PACCAR, Inc.		24,157	$	2,512,811
Parker-Hannifin Corp.		5,924		3,767,842
Paychex, Inc.		14,784		2,073,012
Paycom Software, Inc.		2,243		459,748
Pentair PLC		7,627		767,581
Quanta Services, Inc.		6,800		2,149,140
Republic Services, Inc.		9,412		1,893,506
Rockwell Automation, Inc.		5,228		1,494,110
Rollins, Inc.		12,948		600,140
RTX Corp.		61,304		7,094,099
Snap-on, Inc.		2,428		824,257
Southwest Airlines Co.		27,608		928,181
Stanley Black & Decker, Inc.		7,146		573,752
Textron, Inc.		8,707		665,998
Trane Technologies PLC		10,401		3,841,609
TransDigm Group, Inc.		2,586		3,277,186
Uber Technologies, Inc. (a)		96,824		5,840,424
Union Pacific Corp.		27,849		6,350,686
United Airlines Holdings, Inc. (a)		15,155		1,471,551
United Parcel Service, Inc. Class B		33,756		4,256,632
United Rentals, Inc.		3,000		2,113,320
Veralto Corp.		11,389		1,159,970
Verisk Analytics, Inc.		6,563		1,807,647
W.W. Grainger, Inc.		2,048		2,158,694
Waste Management, Inc.		16,832		3,396,529
Westinghouse Air Brake Technologies Corp.		7,833		1,485,058
Xylem, Inc.		11,191		1,298,380
				187,151,650
Information Technology — 32.7%
Accenture PLC Class A		28,731		10,107,278
Adobe, Inc. (a)		20,242		9,001,213
Advanced Micro Devices, Inc. (a)		74,868		9,043,306
Akamai Technologies, Inc. (a)		6,981		667,733
Amphenol Corp. Class A		55,505		3,854,822
Analog Devices, Inc.		22,865		4,857,898
ANSYS, Inc. (a)		4,027		1,358,428
Apple, Inc.		696,178		174,336,895
Applied Materials, Inc.		37,870		6,158,798
Arista Networks, Inc. (a)		47,488		5,248,849
Autodesk, Inc. (a)		9,929		2,934,715
Broadcom, Inc.		215,166		49,884,085
Cadence Design Systems, Inc. (a)		12,620		3,791,805
CDW Corp.		6,156		1,071,390
Cisco Systems, Inc.		183,299		10,851,301
Cognizant Technology Solutions Corp. Class A		22,833		1,755,858
Corning, Inc.		35,494		1,686,675
Crowdstrike Holdings, Inc. Class A (a)		10,733		3,672,403
Dell Technologies, Inc. Class C		14,125		1,627,765
Enphase Energy, Inc. (a)		6,240		428,563
EPAM Systems, Inc. (a)		2,640		617,285
F5, Inc. (a)		2,686		675,448
Fair Isaac Corp. (a)		1,114		2,217,896
First Solar, Inc. (a)		4,933		869,392
Fortinet, Inc. (a)		29,259		2,764,390
Gartner, Inc. (a)		3,551		1,720,353
Gen Digital, Inc.		24,962		683,460
GoDaddy, Inc. Class A (a)		6,497		1,282,313

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Hewlett Packard Enterprise Co.		59,900	$	1,278,865
HP, Inc.		43,895		1,432,294
Intel Corp.		198,356		3,977,038
International Business Machines Corp.		42,605		9,365,857
Intuit, Inc.		12,883		8,096,966
Jabil, Inc.		5,228		752,309
Juniper Networks, Inc.		15,338		574,408
Keysight Technologies, Inc. (a)		8,043		1,291,947
KLA Corp.		6,135		3,865,786
Lam Research Corp.		59,045		4,264,820
Microchip Technology, Inc.		24,711		1,417,176
Micron Technology, Inc.		51,100		4,300,576
Microsoft Corp.		342,441		144,338,881
Monolithic Power Systems, Inc.		2,247		1,329,550
Motorola Solutions, Inc.		7,689		3,554,086
NetApp, Inc.		9,475		1,099,858
NVIDIA Corp.		1,129,826		151,724,334
NXP Semiconductors NV		11,737		2,439,535
ON Semiconductor Corp. (a)		19,738		1,244,481
Oracle Corp.		74,091		12,346,524
Palantir Technologies, Inc. Class A (a)		94,545		7,150,438
Palo Alto Networks, Inc. (a)		30,160		5,487,914
PTC, Inc. (a)		5,537		1,018,088
QUALCOMM, Inc.		51,061		7,843,991
Roper Technologies, Inc.		4,940		2,568,059
Salesforce, Inc.		44,051		14,727,571
Seagate Technology Holdings PLC		9,679		835,394
ServiceNow, Inc. (a)		9,494		10,064,779
Skyworks Solutions, Inc.		7,398		656,055
Super Micro Computer, Inc. (a)		23,320		710,794
Synopsys, Inc. (a)		7,061		3,427,127
TE Connectivity PLC		13,666		1,953,828
Teledyne Technologies, Inc. (a)		2,156		1,000,664
Teradyne, Inc.		7,518		946,667
Texas Instruments, Inc.		42,076		7,889,671
Trimble, Inc. (a)		11,341		801,355
Tyler Technologies, Inc. (a)		1,967		1,134,251
VeriSign, Inc. (a)		3,866		800,107
Western Digital Corp. (a)		15,666		934,164
Workday, Inc. Class A (a)		9,771		2,521,211
Zebra Technologies Corp. Class A (a)		2,378		918,431
				745,256,167
Materials — 1.9%
Air Products & Chemicals, Inc.		10,246		2,971,750
Albemarle Corp. (b)		5,416		466,209
Amcor PLC		66,600		626,706
Avery Dennison Corp.		3,711		694,439
Ball Corp.		13,989		771,214
Celanese Corp.		5,034		348,403
CF Industries Holdings, Inc.		7,824		667,544
Corteva, Inc.		31,912		1,817,708
Dow, Inc.		32,205		1,292,387
DuPont de Nemours, Inc.		19,242		1,467,203
Eastman Chemical Co.		5,386		491,850
Ecolab, Inc.		11,673		2,735,217
FMC Corp.		5,761		280,042
Freeport-McMoRan, Inc.		66,189		2,520,477

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
International Flavors & Fragrances, Inc.		11,782	$	996,168
International Paper Co.		16,011		861,712
Linde PLC (LIN US)		21,890		9,164,686
LyondellBasell Industries NV Class A		11,974		889,309
Martin Marietta Materials, Inc.		2,817		1,454,981
Mosaic Co.		14,656		360,244
Newmont Corp. (NEM US)		52,056		1,937,524
Nucor Corp.		10,923		1,274,823
Packaging Corp. of America		4,112		925,735
PPG Industries, Inc.		10,751		1,284,207
Sherwin-Williams Co.		10,697		3,636,231
Smurfit WestRock PLC		22,745		1,225,046
Steel Dynamics, Inc.		6,620		755,143
Vulcan Materials Co.		6,088		1,566,016
				43,482,974
Real Estate — 2.1%
Alexandria Real Estate Equities, Inc.		7,169		699,336
American Tower Corp.		21,524		3,947,717
AvalonBay Communities, Inc.		6,531		1,436,624
BXP, Inc.		6,691		497,543
Camden Property Trust		4,929		571,961
CBRE Group, Inc. Class A (a)		13,882		1,822,568
CoStar Group, Inc. (a)		18,887		1,352,120
Crown Castle, Inc.		20,042		1,819,012
Digital Realty Trust, Inc.		14,372		2,548,587
Equinix, Inc.		4,426		4,173,231
Equity Residential		15,715		1,127,708
Essex Property Trust, Inc.		2,958		844,331
Extra Space Storage, Inc.		9,754		1,459,198
Federal Realty Investment Trust		3,506		392,497
Healthpeak Properties, Inc.		32,402		656,788
Host Hotels & Resorts, Inc.		32,534		569,996
Invitation Homes, Inc.		26,244		839,021
Iron Mountain, Inc.		13,518		1,420,877
Kimco Realty Corp.		31,052		727,548
Mid-America Apartment Communities, Inc.		5,384		832,205
Prologis, Inc.		42,668		4,510,008
Public Storage		7,258		2,173,335
Realty Income Corp.		40,119		2,142,756
Regency Centers Corp.		7,519		555,880
SBA Communications Corp.		4,951		1,009,014
Simon Property Group, Inc.		14,122		2,431,950
UDR, Inc.		13,953		605,700
Ventas, Inc.		19,036		1,121,030
VICI Properties, Inc.		48,216		1,408,389
Welltower, Inc.		27,126		3,418,690
Weyerhaeuser Co.		33,501		943,053
				48,058,673
Utilities — 2.3%
AES Corp.		32,657		420,296
Alliant Energy Corp.		11,820		699,035
Ameren Corp.		12,296		1,096,065
American Electric Power Co., Inc.		24,522		2,261,664
American Water Works Co., Inc.		8,979		1,117,796
Atmos Energy Corp.		7,155		996,477

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
CenterPoint Energy, Inc.		29,846	$	947,013
CMS Energy Corp.		13,756		916,837
Consolidated Edison, Inc.		15,933		1,421,701
Constellation Energy Corp.		14,411		3,223,885
Dominion Energy, Inc.		38,712		2,085,028
DTE Energy Co.		9,510		1,148,332
Duke Energy Corp.		35,578		3,833,174
Edison International		17,796		1,420,833
Entergy Corp.		19,712		1,494,564
Evergy, Inc.		10,685		657,662
Eversource Energy		17,073		980,502
Exelon Corp.		46,154		1,737,236
FirstEnergy Corp.		23,604		938,967
NextEra Energy, Inc.		94,685		6,787,968
NiSource, Inc.		21,476		789,458
NRG Energy, Inc.		9,530		859,797
PG&E Corp.		100,755		2,033,236
Pinnacle West Capital Corp.		5,212		441,821
PPL Corp.		34,014		1,104,094
Public Service Enterprise Group, Inc.		22,961		1,939,975
Sempra		29,182		2,559,845
Southern Co.		50,390		4,148,105
Vistra Corp.		15,584		2,148,566
WEC Energy Group, Inc.		14,565		1,369,693
Xcel Energy, Inc.		26,288		1,774,966
				53,354,591
TOTAL COMMON STOCK (Cost $1,062,213,756)				2,293,642,225
TOTAL EQUITIES (Cost $1,062,213,756)				2,293,642,225
TOTAL LONG-TERM INVESTMENTS (Cost $1,062,213,756)				2,293,642,225
SHORT-TERM INVESTMENTS — 0.4%
	Principal Amount
Repurchase Agreement — 0.4%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (c)	$	8,966,570		8,966,570
U.S. Treasury Bills — 0.0%
U.S. Treasury Bills
4.278% 3/27/25 (d) (e)		100,000		99,022
4.286% 3/27/25 (d) (e)		45,000		44,560
4.297% 3/27/25 (d) (e)		20,000		19,804
4.379% 3/27/25 (d) (e)		65,000		64,364
4.390% 3/27/25 (d) (e)		20,000		19,804
4.439% 3/27/25 (d) (e)		5,000		4,951
4.443% 3/27/25 (d) (e)		65,000		64,364
4.448% 3/27/25 (d) (e)		25,000		24,756
4.450% 3/27/25 (d) (e)		15,000		14,853
4.455% 3/27/25 (d) (e)		55,000		54,462
4.468% 3/27/25 (d) (e)		15,000		14,853
4.476% 3/27/25 (d) (e)		5,000		4,951

MM S&P 500 Index Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.496% 3/27/25 (d) (e)	$	30,000	$	29,707
4.526% 3/27/25 (d) (e)		40,000		39,609
4.534% 3/27/25 (d) (e)		20,000		19,804
6.521% 3/27/25 (d) (e)		60,000		59,413
				579,277
TOTAL SHORT-TERM INVESTMENTS (Cost $9,545,416)				9,545,847
TOTAL INVESTMENTS — 101.0% (Cost $1,071,759,172) (f)				2,303,188,072
Other Assets/(Liabilities) — (1.0)%				(22,924,266)
NET ASSETS — 100.0%			$	2,280,263,806

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 December 31, 2024, was $985,500 or 0.04% of net assets. The Fund received $1,005,928 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).

(c) Maturity value of $8,967,939. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $9,145,909.

(d) The rate shown represents yield-to-maturity.

(e) All or a portion of this security is pledged/held as collateral for open derivatives.

(f) 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	3/21/25		35	$	10,702,946	$	(315,383)

MassMutual Equity Opportunities Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.5%
COMMON STOCK — 98.3%
Communication Services — 3.3%
Alphabet, Inc. Class A		63,981	$	12,111,603
News Corp. Class A		139,900		3,852,846
News Corp. Class B		20,200		614,686
Walt Disney Co.		22,400		2,494,240
				19,073,375
Consumer Discretionary — 10.2%
Las Vegas Sands Corp.		70,400		3,615,744
McDonald's Corp.		73,474		21,299,378
NIKE, Inc. Class B		185,711		14,052,752
TJX Cos., Inc.		169,046		20,422,447
				59,390,321
Consumer Staples — 9.7%
Coca-Cola Co.		198,429		12,354,190
Kenvue, Inc.		294,000		6,276,900
Kimberly-Clark Corp.		37,000		4,848,480
PepsiCo, Inc.		78,318		11,909,035
Philip Morris International, Inc.		37,100		4,464,985
Procter & Gamble Co.		101,737		17,056,208
				56,909,798
Energy — 2.4%
ConocoPhillips		72,100		7,150,157
TotalEnergies SE		95,700		5,317,943
TotalEnergies SE Sponsored ADR		25,700		1,400,650
				13,868,750
Financials — 22.4%
American Express Co.		45,784		13,588,233
American International Group, Inc.		63,700		4,637,360
Charles Schwab Corp.		70,500		5,217,705
Chubb Ltd.		70,443		19,463,401
Fifth Third Bancorp		148,900		6,295,492
Marsh & McLennan Cos., Inc.		79,983		16,989,189
Mastercard, Inc. Class A		31,648		16,664,887
MetLife, Inc.		79,900		6,542,212
S&P Global, Inc.		35,187		17,524,182
US Bancorp		58,800		2,812,404
Visa, Inc. Class A		39,299		12,420,056
Wells Fargo & Co.		127,100		8,927,504
				131,082,625

MassMutual Equity Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Health Care — 11.9%
AbbVie, Inc.		6,300	$	1,119,510
Becton Dickinson & Co.		23,900		5,422,193
Danaher Corp.		76,674		17,600,517
Elevance Health, Inc.		18,270		6,739,803
Johnson & Johnson		5,200		752,024
Sanofi SA ADR		97,200		4,687,956
Stryker Corp.		44,589		16,054,269
UnitedHealth Group, Inc.		20,175		10,205,726
Viatris, Inc.		190,300		2,369,235
Zimmer Biomet Holdings, Inc.		46,400		4,901,232
				69,852,465
Industrials — 13.0%
Boeing Co. (a)		22,005		3,894,885
Fortive Corp.		30,100		2,257,500
General Electric Co.		32,100		5,353,959
Honeywell International, Inc.		81,081		18,315,387
L3Harris Technologies, Inc.		22,000		4,626,160
Lockheed Martin Corp.		18,446		8,963,649
Norfolk Southern Corp.		10,700		2,511,290
Northrop Grumman Corp.		28,152		13,211,452
Rockwell Automation, Inc.		5,650		1,614,714
Stanley Black & Decker, Inc.		58,000		4,656,820
Union Pacific Corp.		31,316		7,141,301
United Parcel Service, Inc. Class B		27,400		3,455,140
				76,002,257
Information Technology — 17.6%
Accenture PLC Class A		57,643		20,278,231
Apple, Inc.		69,605		17,430,484
Intuit, Inc.		26,212		16,474,242
Microsoft Corp.		53,391		22,504,306
QUALCOMM, Inc.		44,200		6,790,004
Samsung Electronics Co. Ltd.		52,000		1,876,606
Texas Instruments, Inc.		93,701		17,569,875
				102,923,748
Materials — 4.5%
CF Industries Holdings, Inc.		46,000		3,924,720
International Paper Co.		76,800		4,133,376
Linde PLC (LIN US)		43,751		18,317,231
				26,375,327
Real Estate — 1.3%
Equity Residential		57,600		4,133,376
Weyerhaeuser Co.		128,500		3,617,275
				7,750,651
Utilities — 2.0%
Ameren Corp.		66,500		5,927,810

MassMutual Equity Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Southern Co.		69,800	$	5,745,936
				11,673,746
TOTAL COMMON STOCK (Cost $469,913,824)				574,903,063
PREFERRED STOCK — 0.2%
Consumer Discretionary — 0.2%
Volkswagen AG 10.166%
		11,900		1,097,906
TOTAL PREFERRED STOCK (Cost $1,696,817)				1,097,906
TOTAL EQUITIES (Cost $471,610,641)				576,000,969
TOTAL LONG-TERM INVESTMENTS (Cost $471,610,641)				576,000,969
SHORT-TERM INVESTMENTS — 1.1%
Mutual Fund — 0.0%
T. Rowe Price Government Reserve Investment Fund, 2.481% (b)		175		175
	Principal Amount
Repurchase Agreement — 1.1%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (c)	$	6,242,321		6,242,321
TOTAL SHORT-TERM INVESTMENTS (Cost $6,242,496)				6,242,496
TOTAL INVESTMENTS — 99.6% (Cost $477,853,137) (d)				582,243,465
Other Assets/(Liabilities) — 0.4%				2,404,440
NET ASSETS — 100.0%			$	584,647,905

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)	Rate disclosed is the 7-day net yield as of December 31, 2024.
(c)	Maturity value of $6,243,275. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $6,367,215.

(d) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Blue Chip Growth Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.2%
COMMON STOCK — 98.0%
Communication Services — 18.7%
Alphabet, Inc. Class A		528,614	$	100,066,630
Alphabet, Inc. Class C		510,873		97,290,654
Meta Platforms, Inc. Class A		289,957		169,772,723
Netflix, Inc. (a)		120,970		107,822,980
Sea Ltd. ADR (a)		50,046		5,309,881
T-Mobile US, Inc.		70,517		15,565,218
Walt Disney Co.		303,191		33,760,318
				529,588,404
Consumer Discretionary — 18.1%
Alibaba Group Holding Ltd. Sponsored ADR		98,800		8,377,252
Amazon.com, Inc. (a)		991,817		217,594,732
Booking Holdings, Inc.		3,005		14,930,102
Carvana Co. (a)		131,914		26,826,031
Chipotle Mexican Grill, Inc. (a)		233,870		14,102,361
DoorDash, Inc., Class A (a)		35,529		5,959,990
Lululemon Athletica, Inc. (a)		7,409		2,833,276
NIKE, Inc. Class B		150,166		11,363,061
Ross Stores, Inc.		47,598		7,200,149
Starbucks Corp.		201,193		18,358,861
Tesla, Inc. (a)		403,991		163,147,725
TJX Cos., Inc.		54,517		6,586,199
Yum China Holdings, Inc.		96,602		4,653,318
Yum! Brands, Inc.		82,553		11,075,311
				513,008,368
Consumer Staples — 1.5%
Colgate-Palmolive Co.		58,243		5,294,871
Dollar General Corp.		5,933		449,840
Mondelez International, Inc. Class A		41,278		2,465,535
Monster Beverage Corp. (a)		539,744		28,368,945
Procter & Gamble Co.		26,164		4,386,394
				40,965,585
Energy — 0.1%
Schlumberger NV		78,694		3,017,128
Financials — 8.9%
Adyen NV ADR (a) (b)		182,316		2,672,753
Block, Inc. (a)		151,538		12,879,215
Charles Schwab Corp.		65,160		4,822,492
Chubb Ltd.		53,795		14,863,559
FactSet Research Systems, Inc.		31,433		15,096,641
Fiserv, Inc. (a)		18,062		3,710,296
Goldman Sachs Group, Inc.		12,123		6,941,872

MassMutual Blue Chip Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Marsh & McLennan Cos., Inc.		29,932	$	6,357,856
Mastercard, Inc. Class A		69,581		36,639,267
Morgan Stanley		57,691		7,252,913
MSCI, Inc.		604		362,406
PayPal Holdings, Inc. (a)		137,538		11,738,868
S&P Global, Inc.		12,704		6,326,973
SEI Investments Co.		179,055		14,768,456
Visa, Inc. Class A		341,181		107,826,843
				252,260,410
Health Care — 9.7%
AstraZeneca PLC Sponsored ADR		12,552		822,407
Danaher Corp.		44,974		10,323,782
Elevance Health, Inc.		9,731		3,589,766
Eli Lilly & Co.		59,729		46,110,788
Humana, Inc.		14,706		3,731,059
Illumina, Inc. (a)		88,647		11,845,899
Intuitive Surgical, Inc. (a)		84,211		43,954,774
Novartis AG Sponsored ADR (b)		119,305		11,609,569
Novo Nordisk AS Sponsored ADR		252,710		21,738,114
Regeneron Pharmaceuticals, Inc. (a)		33,279		23,705,630
Roche Holding AG Sponsored ADR (b)		271,396		9,466,292
Stryker Corp.		22,022		7,929,021
Thermo Fisher Scientific, Inc.		46,661		24,274,452
UnitedHealth Group, Inc.		41,536		21,011,401
Vertex Pharmaceuticals, Inc. (a)		80,977		32,609,438
Zoetis, Inc.		1,542		251,238
				272,973,630
Industrials — 3.6%
Boeing Co. (a)		311,411		55,119,747
Cintas Corp.		16,800		3,069,360
Deere & Co.		14,711		6,233,051
Expeditors International of Washington, Inc.		119,296		13,214,418
GE Vernova, Inc.		12,169		4,002,749
General Electric Co.		60,131		10,029,249
Old Dominion Freight Line, Inc.		22,649		3,995,284
TransDigm Group, Inc.		3,156		3,999,536
Veralto Corp.		10,539		1,073,397
				100,736,791
Information Technology — 36.6%
Advanced Micro Devices, Inc. (a)		5,683		686,450
Apple, Inc.		558,352		139,822,508
ASML Holding NV		17,672		12,248,110
Atlassian Corp. Class A (a)		3,742		910,728
Autodesk, Inc. (a)		120,307		35,559,140
Bill Holdings, Inc. (a)		30,745		2,604,409
Broadcom, Inc.		126,165		29,250,094
Canva, Inc. (Acquired 8/16/21-12/17/21, Cost $2,302,739) (a) (c) (d) (e)		1,351		1,788,008
Confluent, Inc. Class A (a)		44,991		1,257,948
Crowdstrike Holdings, Inc. Class A (a)		11,722		4,010,800
Datadog, Inc. Class A (a)		18,320		2,617,745
Fortinet, Inc. (a)		3,128		295,533
Gusto, Inc. (Acquired 10/04/21, Cost $765,943) (a) (c) (d) (e)		26,606		494,606
Intuit, Inc.		15,635		9,826,597

MassMutual Blue Chip Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Lam Research Corp.		8,200	$	592,286
Microsoft Corp.		550,873		232,192,969
MongoDB, Inc. (a)		5,860		1,364,267
Monolithic Power Systems, Inc.		10,529		6,230,009
NVIDIA Corp.		2,300,812		308,976,043
Oracle Corp.		361,637		60,263,190
QUALCOMM, Inc.		115,490		17,741,574
Roper Technologies, Inc.		15,242		7,923,554
Salesforce, Inc.		120,778		40,379,709
ServiceNow, Inc. (a)		34,093		36,142,671
Shopify, Inc. Class A (a)		402,682		42,817,177
Snowflake, Inc. Class A (a)		1,644		253,850
Synopsys, Inc. (a)		25,925		12,582,958
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR		36,911		7,289,553
TE Connectivity PLC		40,098		5,732,811
Texas Instruments, Inc.		12,055		2,260,433
Workday, Inc. Class A (a)		41,914		10,815,069
				1,034,930,799
Materials — 0.4%
Linde PLC (LIN US)		13,031		5,455,689
Sherwin-Williams Co.		16,899		5,744,477
				11,200,166
Utilities — 0.4%
Constellation Energy Corp.		48,611		10,874,767
TOTAL COMMON STOCK (Cost $1,420,311,626)				2,769,556,048
PREFERRED STOCK — 0.2%
Information Technology — 0.2%
Canva, Inc., Series A (Acquired 11/04/21-12/17/21, Cost $144,893) (a) (c) (d) (e)		85		112,495
Canva, Inc., Series A-3 (Acquired 11/04/21-12/17/21, Cost $17,043) (a) (c) (d) (e)		10		13,235
Databricks, Inc., Series G (Acquired 2/01/21, Cost $815,183) (a) (c) (d) (e)		13,788		1,275,390
Databricks, Inc., Series H (Acquired 8/31/21, Cost $2,202,319) (a) (c) (d) (e)		29,970		2,772,225
Gusto, Inc., Series E (Acquired 7/13/21, Cost $1,117,484) (a) (c) (d) (e)		36,765		683,461
				4,856,806
TOTAL PREFERRED STOCK (Cost $4,296,923)				4,856,806
TOTAL EQUITIES (Cost $1,424,608,549)				2,774,412,854
	Principal Amount
BONDS & NOTES — 0.1%
CORPORATE DEBT — 0.1%
Retail — 0.1%
Carvana Co.
9.000% 12/01/28 (f)	$	739,802		789,934
13.000% 6/01/30 (f)		1,302,922		1,430,546

MassMutual Blue Chip Growth Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
14.000% 6/01/31 (f)	$	1,555,976	$	1,865,557
				4,086,037
TOTAL CORPORATE DEBT (Cost $3,977,369)				4,086,037
TOTAL BONDS & NOTES (Cost $3,977,369)				4,086,037
	Number of Shares
EXCHANGE-TRADED FUNDS — 1.1%
iShares Russell 1000 Growth ETF		14,604		5,864,674
SPDR S&P 500 ETF Trust		45,583		26,715,285
TOTAL EXCHANGE-TRADED FUNDS (Cost $32,935,206)				32,579,959
TOTAL LONG-TERM INVESTMENTS (Cost $1,461,521,124)				2,811,078,850
SHORT-TERM INVESTMENTS — 0.3%
Investment of Cash Collateral from Securities Loaned — 0.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (g)		15,000		15,000
Mutual Fund — 0.0%
T. Rowe Price Government Reserve Investment Fund, 2.481% (h)		113		113
	Principal Amount
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (i)	$	7,672,766		7,672,766
TOTAL SHORT-TERM INVESTMENTS (Cost $7,687,879)				7,687,879
TOTAL INVESTMENTS — 99.7% (Cost $1,469,209,003) (j)				2,818,766,729
Other Assets/(Liabilities) — 0.3%				8,268,267
NET ASSETS — 100.0%			$	2,827,034,996

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 December 31, 2024, was $12,325,788 or 0.44% of net assets. The Fund received $12,576,455 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) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $7,139,420 or 0.25% of net assets.

(d) Investment is valued using significant unobservable inputs.

(e) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $7,139,420 or 0.25% 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 December 31, 2024, the aggregate market value of these securities amounted to $4,086,037 or 0.14% of net assets.

(g) Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2024. (Note 2).

(h) Rate disclosed is the 7-day net yield as of December 31, 2024.

(i)	Maturity value of $7,673,938. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $7,826,441.
(j)	See Note 3 for aggregate cost for federal tax purposes.

MassMutual Mid Cap Value Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.3%
COMMON STOCK — 99.0%
Communication Services — 5.7%
EchoStar Corp. Class A (a)		3,242	$	74,242
Electronic Arts, Inc.		1,801		263,486
Fox Corp. Class B		1,264		57,815
IAC, Inc. (a)		5,800		250,212
Interpublic Group of Cos., Inc.		6,131		171,791
Iridium Communications, Inc.		2,351		68,226
Liberty Broadband Corp. Class C (a)		3,500		261,660
Liberty Global Ltd. Class A (a)		16,400		209,264
Match Group, Inc. (a)		9,000		294,390
New York Times Co. Class A		297		15,459
News Corp. Class A		8,700		239,598
Omnicom Group, Inc.		1,114		95,849
Pinterest, Inc. Class A (a)		614		17,806
Playtika Holding Corp.		1,080		7,495
ROBLOX Corp. Class A (a)		1,089		63,009
Roku, Inc. (a)		2,208		164,143
Sirius XM Holdings, Inc.		11,915		271,662
Trade Desk, Inc. Class A (a)		500		58,765
Warner Bros Discovery, Inc. (a)		25,617		270,772
				2,855,644
Consumer Discretionary — 5.3%
Aptiv PLC (a)		768		46,449
BorgWarner, Inc.		3,748		119,149
Carnival Corp. (a)		10,231		254,956
Coupang, Inc. (a)		2,906		63,874
Deckers Outdoor Corp. (a)		411		83,470
DR Horton, Inc.		1,434		200,502
DraftKings, Inc. Class A (a)		409		15,215
Duolingo, Inc. (a)		192		62,252
Etsy, Inc. (a)		804		42,524
Gap, Inc.		774		18,290
Garmin Ltd.		1,532		315,990
Grand Canyon Education, Inc. (a)		290		47,502
Hasbro, Inc.		362		20,239
LKQ Corp.		8,200		301,350
Mohawk Industries, Inc. (a)		1,053		125,444
Ralph Lauren Corp.		153		35,340
Ross Stores, Inc.		2,186		330,676
Skechers USA, Inc. Class A (a)		2,160		145,238
Tapestry, Inc.		4,555		297,578
Ulta Beauty, Inc. (a)		300		130,479
YETI Holdings, Inc. (a)		212		8,164
				2,664,681

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Consumer Staples — 11.6%
Archer-Daniels-Midland Co.		7,700	$	389,004
BellRing Brands, Inc. (a)		2,679		201,836
Coca-Cola Consolidated, Inc.		127		160,019
Conagra Brands, Inc.		21,091		585,275
Dollar General Corp.		1,800		136,476
Dollar Tree, Inc. (a)		5,221		391,262
Estee Lauder Cos., Inc. Class A		1,726		129,415
General Mills, Inc.		3,334		212,609
Heineken NV		2,052		145,701
Ingredion, Inc.		144		19,809
Kenvue, Inc.		8,537		182,265
Kimberly-Clark Corp.		1,923		251,990
Koninklijke Ahold Delhaize NV		7,930		258,619
Kraft Heinz Co.		14,000		429,940
Kroger Co.		5,710		349,167
Lamb Weston Holdings, Inc.		2,000		133,660
Maplebear, Inc. (a)		316		13,089
Molson Coors Beverage Co. Class B		3,500		200,620
Performance Food Group Co. (a)		2,822		238,600
Pernod Ricard SA		1,549		173,244
Post Holdings, Inc. (a)		2,900		331,934
Reckitt Benckiser Group PLC		1,609		97,197
Tyson Foods, Inc. Class A		5,200		298,688
US Foods Holding Corp (a)		3,344		225,586
Walgreens Boots Alliance, Inc.		31,300		292,029
				5,848,034
Energy — 4.9%
Baker Hughes Co.		4,359		178,806
Cheniere Energy, Inc.		240		51,569
Coterra Energy, Inc.		5,636		143,943
Enterprise Products Partners LP (b)		10,967		343,925
EQT Corp.		2,942		135,656
Halliburton Co.		10,300		280,057
HF Sinclair Corp.		8,822		309,211
Kinder Morgan, Inc.		12,000		328,800
Noble Corp. PLC		4,500		141,300
Occidental Petroleum Corp.		3,533		174,566
Ovintiv, Inc.		1,583		64,111
Targa Resources Corp.		266		47,481
TechnipFMC PLC		8,168		236,382
Weatherford International PLC		273		19,555
				2,455,362
Financials — 15.9%
AllianceBernstein Holding LP (b)		2,089		77,481
Allstate Corp.		3,017		581,647
Ally Financial, Inc.		7,438		267,842
Axis Capital Holdings Ltd.		356		31,549
Bank of New York Mellon Corp.		3,032		232,949
BOK Financial Corp.		290		30,870
Cboe Global Markets, Inc.		1,314		256,756
Coinbase Global, Inc. Class A (a)		63		15,643
Commerce Bancshares, Inc.		3,728		232,292
Corpay, Inc. (a)		1,152		389,860

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Edenred SE		2,623	$	85,687
Everest Group Ltd.		67		24,285
Fidelity National Financial, Inc.		5,800		325,612
First Citizens BancShares, Inc. Class A		194		409,926
First Hawaiian, Inc.		3,644		94,562
First Horizon Corp.		12,823		258,255
Global Payments, Inc.		3,000		336,180
Globe Life, Inc.		331		36,913
Hanover Insurance Group, Inc.		1,141		176,467
Hartford Financial Services Group, Inc.		2,830		309,602
Interactive Brokers Group, Inc. Class A		1,680		296,806
LPL Financial Holdings, Inc.		252		82,280
Markel Group, Inc. (a)		200		345,246
Morningstar, Inc.		198		66,678
MSCI, Inc.		519		311,405
Northern Trust Corp.		2,763		283,207
PNC Financial Services Group, Inc.		382		73,669
Reinsurance Group of America, Inc.		1,597		341,167
State Street Corp.		3,045		298,867
Synchrony Financial		987		64,155
T. Rowe Price Group, Inc.		1,841		208,199
Truist Financial Corp.		6,922		300,276
Unum Group		696		50,829
US Bancorp		6,396		305,921
Virtu Financial, Inc. Class A		697		24,869
Webster Financial Corp.		2,426		133,964
Westamerica BanCorp		1,735		91,018
Willis Towers Watson PLC		1,648		516,219
Zions Bancorp NA		1,080		58,590
				8,027,743
Health Care — 13.9%
Alnylam Pharmaceuticals, Inc. (a)		26		6,118
Baxter International, Inc.		13,887		404,945
Becton Dickinson & Co.		1,181		267,933
Bio-Rad Laboratories, Inc. Class A (a)		1,095		359,718
Cardinal Health, Inc.		1,615		191,006
Cencora, Inc.		578		129,865
Centene Corp. (a)		10,772		652,568
DENTSPLY SIRONA, Inc.		4,220		80,096
Elanco Animal Health, Inc. (a)		6,952		84,189
Encompass Health Corp.		1,967		181,652
Envista Holdings Corp. (a)		6,157		118,769
GE HealthCare Technologies, Inc. (a)		2,172		169,807
Henry Schein, Inc. (a)		8,575		593,390
Hologic, Inc. (a)		1,854		133,655
ICON PLC (a)		373		78,222
Illumina, Inc. (a)		604		80,713
Incyte Corp. (a)		1,368		94,488
IQVIA Holdings, Inc. (a)		789		155,046
Jazz Pharmaceuticals PLC (a)		3,735		459,965
Koninklijke Philips NV (a) (c)		5,285		133,816
Labcorp Holdings, Inc.		1,765		404,750
Medpace Holdings, Inc. (a)		196		65,117
Medtronic PLC		1,953		156,006
Mettler-Toledo International, Inc. (a)		50		61,184
Perrigo Co. PLC		12,500		321,375
QIAGEN NV		702		31,260

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Quest Diagnostics, Inc.		1,537	$	231,872
Solventum Corp. (a)		790		52,187
Teleflex, Inc.		190		33,816
Universal Health Services, Inc. Class B		1,041		186,776
Veeva Systems, Inc. Class A (a)		295		62,024
Viatris, Inc.		22,400		278,880
Zimmer Biomet Holdings, Inc.		7,086		748,494
				7,009,702
Industrials — 14.0%
ABM Industries, Inc.		1,783		91,254
Allison Transmission Holdings, Inc.		992		107,196
Amentum Holdings, Inc. (a)		11,277		237,155
Beacon Roofing Supply, Inc. (a)		2,157		219,108
Broadridge Financial Solutions, Inc.		38		8,591
Bunzl PLC		3,934		161,956
Clarivate PLC (a) (c)		45,150		229,362
CNH Industrial NV		14,000		158,620
Comfort Systems USA, Inc.		58		24,595
CSX Corp.		4,699		151,637
Cummins, Inc.		390		135,954
Curtiss-Wright Corp.		758		268,991
Delta Air Lines, Inc.		1,179		71,330
Donaldson Co., Inc.		625		42,094
Dover Corp.		364		68,286
EMCOR Group, Inc.		395		179,291
Emerson Electric Co.		1,391		172,387
Everus Construction Group, Inc. (a)		333		21,895
Ferguson Enterprises, Inc.		1,700		295,069
Flowserve Corp.		919		52,861
Fortive Corp.		4,072		305,400
Generac Holdings, Inc. (a)		62		9,613
Howmet Aerospace, Inc.		3,136		342,984
Huntington Ingalls Industries, Inc.		2,033		384,176
ITT, Inc.		1,091		155,882
Jacobs Solutions, Inc.		1,200		160,344
Kirby Corp. (a)		972		102,838
L3Harris Technologies, Inc.		791		166,331
Leidos Holdings, Inc.		1,960		282,358
MSA Safety, Inc.		92		15,251
MSC Industrial Direct Co., Inc. Class A		3,019		225,489
Norfolk Southern Corp.		1,204		282,579
Oshkosh Corp.		2,359		224,270
Parker-Hannifin Corp.		98		62,331
Pentair PLC		1,758		176,925
Republic Services, Inc.		343		69,005
Southwest Airlines Co.		6,401		215,202
SS&C Technologies Holdings, Inc.		1,300		98,514
Timken Co.		1,236		88,213
Trane Technologies PLC		207		76,455
United Airlines Holdings, Inc. (a)		1,318		127,978
Veralto Corp.		442		45,018
Verisk Analytics, Inc.		244		67,205
Vertiv Holdings Co. Class A		527		59,872
Vinci SA		1,877		192,637
Weir Group PLC		3,289		89,553
WESCO International, Inc.		700		126,672

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Woodward, Inc.		1,184	$	197,041
				7,047,768
Information Technology — 6.0%
Amdocs Ltd.		2,596		221,023
Amkor Technology, Inc.		1,172		30,109
Appfolio, Inc. Class A (a)		76		18,751
AppLovin Corp. Class A (a)		119		38,536
Cirrus Logic, Inc. (a)		1,290		128,458
Cognizant Technology Solutions Corp. Class A		2,811		216,166
Datadog, Inc. Class A (a)		429		61,300
DocuSign, Inc. (a)		633		56,932
EPAM Systems, Inc. (a)		107		25,019
F5, Inc. (a)		562		141,326
GoDaddy, Inc. Class A (a)		39		7,697
Hewlett Packard Enterprise Co.		13,873		296,188
HP, Inc.		6,349		207,168
HubSpot, Inc. (a)		33		22,993
MicroStrategy, Inc. Class A (a) (c)		135		39,099
Monolithic Power Systems, Inc.		61		36,094
NetApp, Inc.		432		50,146
ON Semiconductor Corp. (a)		2,078		131,018
Pegasystems, Inc.		854		79,593
Pure Storage, Inc. Class A (a)		741		45,520
TD SYNNEX Corp.		1,600		187,648
TE Connectivity PLC		996		142,398
Twilio, Inc. Class A (a)		2,577		278,522
UiPath, Inc. Class A (a)		1,185		15,061
Vontier Corp.		7,159		261,089
Zoom Communications, Inc. (a)		3,480		284,003
				3,021,857
Materials — 4.2%
Akzo Nobel NV		2,154		129,335
Axalta Coating Systems Ltd. (a)		537		18,376
Commercial Metals Co.		6,200		307,520
Crown Holdings, Inc.		4,042		334,233
Graphic Packaging Holding Co.		16,925		459,683
Louisiana-Pacific Corp.		380		39,349
LyondellBasell Industries NV Class A		3,033		225,261
Mosaic Co.		13,400		329,372
NewMarket Corp.		12		6,340
Packaging Corp. of America		288		64,837
PPG Industries, Inc.		813		97,113
Reliance, Inc.		322		86,702
				2,098,121
Real Estate — 7.2%
Agree Realty Corp.		1,939		136,603
American Tower Corp.		626		114,815
AvalonBay Communities, Inc.		1,463		321,816
Brixmor Property Group, Inc.		1,151		32,044
Camden Property Trust		1,841		213,630
Cousins Properties, Inc.		431		13,206
Crown Castle, Inc.		986		89,489
CubeSmart		402		17,226

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Equity LifeStyle Properties, Inc.		1,564	$	104,162
Equity Residential		7,295		523,489
Essex Property Trust, Inc.		353		100,760
Gaming & Leisure Properties, Inc.		6,600		317,856
Healthpeak Properties, Inc.		6,124		124,133
Host Hotels & Resorts, Inc.		1,316		23,056
JBG SMITH Properties		11,071		170,161
Mid-America Apartment Communities, Inc.		424		65,538
Public Storage		562		168,285
Realty Income Corp.		4,951		264,433
Regency Centers Corp.		1,793		132,557
SBA Communications Corp.		315		64,197
Simon Property Group, Inc.		2,006		345,453
Ventas, Inc.		2,629		154,822
VICI Properties, Inc.		4,769		139,303
				3,637,034
Utilities — 10.3%
Dominion Energy, Inc.		9,200		495,512
DTE Energy Co.		392		47,334
Duke Energy Corp.		925		99,660
Edison International		4,327		345,468
Entergy Corp.		4,142		314,046
Evergy, Inc.		11,450		704,747
Eversource Energy		7,614		437,272
Exelon Corp.		8,771		330,140
MDU Resources Group, Inc.		1,010		18,200
National Fuel Gas Co.		5,200		315,536
NiSource, Inc.		11,000		404,360
Northwestern Energy Group, Inc.		4,934		263,772
OGE Energy Corp.		7,719		318,409
ONE Gas, Inc.		2,290		158,583
PG&E Corp.		16,228		327,481
Spire, Inc.		2,842		192,773
UGI Corp.		390		11,010
WEC Energy Group, Inc.		1,586		149,147
Xcel Energy, Inc.		3,606		243,477
				5,176,927
TOTAL COMMON STOCK (Cost $47,032,313)				49,842,873
PREFERRED STOCK — 0.3%
Consumer Staples — 0.3%
Henkel AG & Co. KGaA 2.193%
		1,429		125,437
TOTAL PREFERRED STOCK (Cost $102,207)				125,437
TOTAL EQUITIES (Cost $47,134,520)				49,968,310
TOTAL LONG-TERM INVESTMENTS (Cost $47,134,520)				49,968,310

MassMutual Mid Cap Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
SHORT-TERM INVESTMENTS — 2.8%
Investment of Cash Collateral from Securities Loaned — 0.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (d)		394	$	394
	Principal Amount
Repurchase Agreement — 2.8%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (e)	$	1,427,917		1,427,917
TOTAL SHORT-TERM INVESTMENTS (Cost $1,428,311)				1,428,311
TOTAL INVESTMENTS — 102.1% (Cost $48,562,831) (f)				51,396,621
Other Assets/(Liabilities) — (2.1)%				(1,045,191)
NET ASSETS — 100.0%			$	50,351,430

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is a Master Limited Partnership.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2024, was $385,096 or 0.76% of net assets. The Fund received $393,850 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) Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2024. (Note 2).

(e) Maturity value of $1,428,135. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,456,522.

(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.	3/28/25	GBP	6,603	USD	8,385	$	(124)
Bank of America N.A.	3/28/25	USD	237,206	EUR	224,957		3,302
Bank of America N.A.	3/28/25	USD	156,828	GBP	123,869		1,854
Goldman Sachs & Co.	3/28/25	USD	148,630	GBP	117,446		1,693
Goldman Sachs & Co.	3/28/25	USD	237,026	EUR	224,957		3,122
JP Morgan Chase Bank N.A.	3/28/25	USD	236,924	EUR	224,957		3,019
UBS AG	3/28/25	USD	237,049	EUR	224,957		3,144
						$	16,010

Currency Legend

EUR Euro

GBP British Pound

USD U.S. Dollar

MassMutual Small Cap Value Equity Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.3%
COMMON STOCK — 97.3%
Consumer Discretionary — 10.1%
American Axle & Manufacturing Holdings, Inc. (a)		43,974	$	256,369
Aramark		8,393		313,143
Bath & Body Works, Inc.		8,891		344,704
Century Communities, Inc.		1,653		121,264
Dave & Buster's Entertainment, Inc. (a) (b)		10,710		312,625
Five Below, Inc. (a)		2,031		213,174
Gentherm, Inc. (a)		7,126		284,506
Goodyear Tire & Rubber Co. (a)		26,382		237,438
Krispy Kreme, Inc.		8,704		86,431
LKQ Corp.		5,573		204,808
Monro, Inc.		6,168		152,966
Oxford Industries, Inc.		3,562		280,614
Patrick Industries, Inc.		2,009		166,908
Sonos, Inc. (a)		17,135		257,710
Tri Pointe Homes, Inc. (a)		4,551		165,019
Visteon Corp. (a)		2,788		247,351
Wyndham Hotels & Resorts, Inc.		2,166		218,311
				3,863,341
Consumer Staples — 5.1%
Darling Ingredients, Inc. (a)		12,373		416,846
Hain Celestial Group, Inc. (a)		49,044		301,621
Post Holdings, Inc. (a)		2,348		268,752
Spectrum Brands Holdings, Inc.		3,583		302,728
SunOpta, Inc. (a)		37,921		291,992
US Foods Holding Corp (a)		5,623		379,327
				1,961,266
Energy — 4.3%
Antero Resources Corp. (a)		9,423		330,276
Atlas Energy Solutions, Inc. (b)		22,432		497,542
Chord Energy Corp.		1,902		222,382
Expand Energy Corp. (b)		3,453		343,746
Sitio Royalties Corp. Class A		12,767		244,871
				1,638,817
Financials — 19.3%
Assured Guaranty Ltd.		3,236		291,272
Banc of California, Inc.		15,463		239,058
Bank OZK		7,685		342,213
Bread Financial Holdings, Inc.		4,943		301,820
Burford Capital Ltd.		29,269		373,180
Cadence Bank		7,047		242,769
Columbia Banking System, Inc.		17,499		472,648

MassMutual Small Cap Value Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Everest Group Ltd.		744	$	269,670
Fidelis Insurance Holdings Ltd.		13,897		251,953
Hancock Whitney Corp.		5,023		274,859
Kemper Corp.		3,661		243,237
Live Oak Bancshares, Inc.		11,984		473,967
OFG Bancorp		12,023		508,813
ProAssurance Corp. (a)		12,105		192,590
Reinsurance Group of America, Inc.		1,032		220,466
Seacoast Banking Corp. of Florida		9,826		270,510
Stifel Financial Corp.		2,325		246,636
Synovus Financial Corp.		5,543		283,968
Texas Capital Bancshares, Inc. (a)		8,185		640,067
Triumph Financial, Inc. (a)		6,616		601,262
Webster Financial Corp.		6,467		357,108
White Mountains Insurance Group Ltd.		149		289,814
				7,387,880
Health Care — 2.6%
Acadia Healthcare Co., Inc. (a)		5,618		222,754
Haemonetics Corp. (a)		4,214		329,029
ICON PLC (a)		1,084		227,326
ICU Medical, Inc. (a)		1,060		164,480
ModivCare, Inc. (a) (b)		5,141		60,869
				1,004,458
Industrials — 25.2%
Air Lease Corp.		7,841		378,015
Alamo Group, Inc.		1,029		191,301
American Woodmark Corp. (a)		2,775		220,696
Brady Corp. Class A		4,143		305,960
Columbus McKinnon Corp.		12,151		452,503
DNOW, Inc. (a)		27,692		360,273
Enerpac Tool Group Corp.		17,365		713,528
Enviri Corp. (a)		39,927		307,438
Fortune Brands Innovations, Inc.		4,521		308,920
Gibraltar Industries, Inc. (a)		8,933		526,154
Greenbrier Cos., Inc.		11,551		704,495
Helios Technologies, Inc.		7,528		336,050
Huron Consulting Group, Inc. (a)		2,360		293,254
Interface, Inc.		21,643		527,007
Janus International Group, Inc. (a)		24,125		177,319
John Bean Technologies Corp.		2,676		340,120
Kennametal, Inc.		21,835		524,477
Kirby Corp. (a)		5,377		568,887
Knight-Swift Transportation Holdings, Inc.		3,443		182,617
Maximus, Inc.		1,108		82,712
Middleby Corp. (a)		2,432		329,414
Ryder System, Inc.		1,881		295,054
Science Applications International Corp.		1,752		195,838
Standex International Corp.		1,881		351,728
Verra Mobility Corp. (a)		7,435		179,778
Vestis Corp.		20,358		310,256
WillScot Holdings Corp. (a)		14,392		481,412
				9,645,206

MassMutual Small Cap Value Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Information Technology — 15.5%
Amdocs Ltd.		3,164	$	269,383
Amkor Technology, Inc.		10,260		263,579
Belden, Inc.		2,391		269,250
Ciena Corp. (a)		9,234		783,136
Coherent Corp. (a)		11,265		1,067,133
Diodes, Inc. (a)		6,319		389,693
ePlus, Inc. (a)		2,990		220,901
Extreme Networks, Inc. (a)		19,290		322,915
Ingram Micro Holding Corp. (a)		2,279		44,190
Knowles Corp. (a)		25,846		515,111
Lumentum Holdings, Inc. (a)		8,665		727,427
Progress Software Corp.		4,827		314,479
Tower Semiconductor Ltd. (a)		14,689		756,630
				5,943,827
Materials — 7.7%
ATI, Inc. (a)		10,220		562,509
Axalta Coating Systems Ltd. (a)		11,015		376,933
Element Solutions, Inc.		12,038		306,126
Ferroglobe PLC		57,354		217,945
HB Fuller Co.		3,314		223,629
Kaiser Aluminum Corp.		6,186		434,690
Materion Corp.		3,703		366,153
Mativ Holdings, Inc.		9,173		99,986
TriMas Corp.		15,252		375,047
				2,963,018
Real Estate — 5.4%
DiamondRock Hospitality Co.		29,788		268,986
Independence Realty Trust, Inc.		15,305		303,651
Kimco Realty Corp.		13,842		324,318
LXP Industrial Trust		18,178		147,605
Macerich Co.		10,355		206,272
Phillips Edison & Co., Inc.		7,204		269,862
PotlatchDeltic Corp.		7,578		297,436
Sabra Health Care REIT, Inc.		13,766		238,427
				2,056,557
Utilities — 2.1%
IDACORP, Inc.		2,347		256,480
ONE Gas, Inc.		4,471		309,617
TXNM Energy, Inc.		5,197		255,536
				821,633
TOTAL COMMON STOCK (Cost $33,032,386)				37,286,003
TOTAL EQUITIES (Cost $33,032,386)				37,286,003
TOTAL LONG-TERM INVESTMENTS (Cost $33,032,386)				37,286,003

MassMutual Small Cap Value Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
SHORT-TERM INVESTMENTS — 1.2%
Investment of Cash Collateral from Securities Loaned — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (c)		29,484	$	29,484
	Principal Amount
Repurchase Agreement — 1.1%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (d)	$	437,606		437,606
TOTAL SHORT-TERM INVESTMENTS (Cost $467,090)				467,090
TOTAL INVESTMENTS — 98.5% (Cost $33,499,476) (e)				37,753,093
Other Assets/(Liabilities) — 1.5%				565,559
NET ASSETS — 100.0%			$	38,318,652

Abbreviation Legend

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 December 31, 2024, was $1,183,923 or 3.09% of net assets. The Fund received $1,168,304 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(d) Maturity value of $437,673. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $446,495.

(e) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Small Company Value Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.7%
COMMON STOCK — 99.7%
Communication Services — 2.0%
Cable One, Inc.		957	$	346,549
Criteo SA Sponsored ADR (a)		24,287		960,794
Entravision Communications Corp. Class A		50,681		119,100
Nexstar Media Group, Inc.		6,433		1,016,221
Townsquare Media, Inc. Class A		2,947		26,788
				2,469,452
Consumer Discretionary — 14.1%
A-Mark Precious Metals, Inc.		6,288		172,291
Accel Entertainment, Inc. (a)		12,318		131,556
Adient PLC (a)		45,740		788,100
ADT, Inc.		149,876		1,035,643
AutoNation, Inc. (a)		6,613		1,123,152
Bloomin' Brands, Inc.		7,938		96,923
BorgWarner, Inc.		32,163		1,022,462
Boyd Gaming Corp.		5,804		421,022
BRP, Inc. (b)		5,950		302,677
Brunswick Corp.		6,115		395,518
Build-A-Bear Workshop, Inc.		26,552		1,222,454
Capri Holdings Ltd. (a)		4,123		86,830
Cavco Industries, Inc. (a)		133		59,349
Champion Homes, Inc. (a)		3,707		326,587
Dave & Buster's Entertainment, Inc. (a) (b)		3,205		93,554
Dine Brands Global, Inc.		13,295		400,180
Genesco, Inc. (a)		30,200		1,291,050
Group 1 Automotive, Inc.		3,486		1,469,279
Hanesbrands, Inc. (a)		164,300		1,337,402
KB Home		8,449		555,268
KinderCare Learning Cos., Inc. (a)		13,076		232,753
M/I Homes, Inc. (a)		1,238		164,592
MarineMax, Inc. (a)		10,706		309,939
Meritage Home Corp.		1,390		213,810
OneWater Marine, Inc. Class A (a) (b)		9,112		158,367
Patrick Industries, Inc.		1,975		164,083
Penske Automotive Group, Inc.		1,307		199,239
Solo Brands, Inc. Class A (a) (b)		27,471		31,317
Tapestry, Inc.		6,381		416,871
Taylor Morrison Home Corp. (a)		16,449		1,006,843
Topgolf Callaway Brands Corp. (a) (b)		86,114		676,856
Visteon Corp. (a)		5,249		465,691
Winnebago Industries, Inc.		21,471		1,025,884
				17,397,542
Consumer Staples — 2.1%
Edgewell Personal Care Co.		16,906		568,041

MassMutual Small Company Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Nomad Foods Ltd.		78,367	$	1,314,998
Spectrum Brands Holdings, Inc.		6,134		518,262
Turning Point Brands, Inc.		3,236		194,484
				2,595,785
Energy — 7.7%
Cactus, Inc. Class A		20,453		1,193,637
ChampionX Corp.		26,124		710,311
Chord Energy Corp.		4,379		511,993
Crescent Energy Co. Class A		43,980		642,548
Mach Natural Resources LP		11,544		198,326
Magnolia Oil & Gas Corp. Class A		73,331		1,714,479
Matador Resources Co.		22,867		1,286,497
NexGen Energy Ltd. (a) (b)		109,440		722,304
Northern Oil & Gas, Inc.		52,099		1,935,999
Permian Resources Corp.		28,952		416,330
TXO Partners LP		5,506		92,721
				9,425,145
Financials — 27.4%
1st Source Corp.		15,488		904,189
Ameris Bancorp		4,225		264,358
Associated Banc-Corp.		50,285		1,201,811
Atlantic Union Bankshares Corp.		5,242		198,567
Axis Capital Holdings Ltd.		11,756		1,041,817
Axos Financial, Inc. (a)		3,087		215,627
Banc of California, Inc.		13,541		209,344
Bank of Marin Bancorp		19,976		474,830
BankUnited, Inc.		31,539		1,203,844
Berkshire Hills Bancorp, Inc.		32,173		914,678
Bowhead Specialty Holdings, Inc. (a)		1,035		36,763
Carter Bankshares, Inc. (a)		7,185		126,384
Columbia Banking System, Inc.		24,894		672,387
Comerica, Inc.		11,810		730,448
Compass Diversified Holdings		27,465		633,892
CVB Financial Corp.		19,800		423,918
Euronet Worldwide, Inc. (a)		5,726		588,862
EVERTEC, Inc.		23,389		807,622
Federated Hermes, Inc.		28,016		1,151,738
Fidelis Insurance Holdings Ltd.		11,035		200,065
First BanCorp		73,503		1,366,421
First Bancorp/Southern Pines NC		25,040		1,101,009
First Hawaiian, Inc.		36,740		953,403
First Interstate BancSystem, Inc. Class A		9,540		309,764
First Merchants Corp.		4,477		178,588
FNB Corp.		56,222		830,961
Hamilton Insurance Group Ltd. Class B (a)		11,315		215,324
Hanover Insurance Group, Inc.		6,386		987,659
HarborOne Bancorp, Inc.		18,845		222,936
Heritage Financial Corp.		47,175		1,155,787
Home BancShares, Inc.		22,433		634,854
International Bancshares Corp.		2,731		172,490
NCR Atleos Corp. (a)		40,081		1,359,548
Nicolet Bankshares, Inc.		10,633		1,115,508
Old National Bancorp		48,767		1,058,488
Pacific Premier Bancorp, Inc.		51,945		1,294,469
Peoples Bancorp, Inc.		16,118		510,779

MassMutual Small Company Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Popular, Inc.		4,813	$	452,711
Premier Financial Corp.		24,251		620,098
Provident Financial Services, Inc.		5,250		99,067
Repay Holdings Corp. (a)		21,626		165,006
SouthState Corp.		8,214		817,129
StoneX Group, Inc. (a)		1,906		186,731
Texas Capital Bancshares, Inc. (a)		16,080		1,257,456
TriCo Bancshares		22,222		971,101
UMB Financial Corp.		5,945		670,953
Walker & Dunlop, Inc.		10,460		1,016,817
Webster Financial Corp.		15,082		832,828
WSFS Financial Corp.		22,590		1,200,207
				33,759,236
Health Care — 2.9%
AMN Healthcare Services, Inc. (a)		11,671		279,170
Embecta Corp.		16,673		344,298
Enovis Corp. (a)		16,906		741,835
Envista Holdings Corp. (a)		14,883		287,093
Integra LifeSciences Holdings Corp. (a)		22,994		521,504
Patterson Cos., Inc.		5,869		181,117
Pediatrix Medical Group, Inc. (a)		94,390		1,238,397
				3,593,414
Industrials — 17.1%
ABM Industries, Inc.		23,039		1,179,136
ArcBest Corp.		10,257		957,183
Atmus Filtration Technologies, Inc.		5,569		218,194
Beacon Roofing Supply, Inc. (a)		6,431		653,261
Blue Bird Corp. (a) (b)		25,994		1,004,148
BrightView Holdings, Inc. (a)		69,259		1,107,451
Brink's Co.		7,854		728,616
Deluxe Corp.		8,429		190,411
DIRTT Environmental Solutions (a)		45,273		31,465
DXP Enterprises, Inc. (a)		3,349		276,694
First Advantage Corp. (a)		6,152		115,227
Fluor Corp. (a)		17,591		867,588
Franklin Covey Co. (a)		21,607		811,991
Gates Industrial Corp. PLC (a)		76,184		1,567,105
GMS, Inc. (a)		7,587		643,605
Great Lakes Dredge & Dock Corp. (a)		95,801		1,081,593
Hayward Holdings, Inc. (a)		65,263		997,871
Hillman Solutions Corp. (a)		101,750		991,045
IBEX Holdings Ltd. (a)		3,822		82,135
John Bean Technologies Corp.		10,679		1,357,301
Korn Ferry		3,797		256,108
Loomis AB		6,583		200,307
Luxfer Holdings PLC		2,059		26,952
MasTec, Inc. (a)		6,411		872,794
MillerKnoll, Inc.		48,599		1,097,851
NV5 Global, Inc. (a)		11,449		215,699
Proficient Auto Logistics, Inc. (a)		7,196		58,072
REV Group, Inc.		36,206		1,153,885
Science Applications International Corp.		1,664		186,002
Sensata Technologies Holding PLC		6,415		175,771
Tecnoglass, Inc.		9,365		742,832
Timken Co.		11,878		847,733

MassMutual Small Company Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Titan Machinery, Inc. (a) (b)		6,305	$	89,090
TriNet Group, Inc.		1,538		139,604
Triumph Group, Inc. (a)		8,926		166,559
				21,091,279
Information Technology — 9.7%
ACI Worldwide, Inc. (a)		9,148		474,873
Amkor Technology, Inc.		40,700		1,045,583
Avnet, Inc.		8,149		426,356
Axcelis Technologies, Inc. (a)		5,592		390,713
Belden, Inc.		4,459		502,128
Calix, Inc. (a)		20,607		718,566
Extreme Networks, Inc. (a)		66,049		1,105,660
FormFactor, Inc. (a)		26,690		1,174,360
Grid Dynamics Holdings, Inc. (a)		50,366		1,120,140
Harmonic, Inc. (a)		72,758		962,588
Ichor Holdings Ltd. (a)		20,388		656,901
Ingram Micro Holding Corp. (a)		9,736		188,781
Kulicke & Soffa Industries, Inc.		8,531		398,056
Penguin Solutions, Inc. (a)		64,978		1,246,928
Synaptics, Inc. (a)		3,654		278,873
Teradata Corp. (a)		6,597		205,497
TTM Technologies, Inc. (a)		43,506		1,076,774
				11,972,777
Materials — 7.0%
AdvanSix, Inc.		33,821		963,560
Avient Corp.		21,423		875,344
Ecovyst, Inc. (a)		146,297		1,117,709
Element Solutions, Inc.		26,448		672,573
Graphic Packaging Holding Co.		31,208		847,609
Ingevity Corp. (a)		7,457		303,873
Methanex Corp.		22,408		1,119,055
Minerals Technologies, Inc.		4,155		316,653
O-I Glass, Inc. (a)		80,611		873,823
Pactiv Evergreen, Inc.		41,758		729,512
Silgan Holdings, Inc.		15,632		813,646
				8,633,357
Real Estate — 7.6%
Acadia Realty Trust (b)		49,879		1,205,077
American Healthcare REIT, Inc.		3,907		111,037
Americold Realty Trust, Inc.		15,495		331,593
Broadstone Net Lease, Inc.		41,815		663,186
COPT Defense Properties		40,410		1,250,689
EPR Properties		5,642		249,828
First Industrial Realty Trust, Inc.		16,808		842,585
Independence Realty Trust, Inc. (b)		67,820		1,345,549
National Storage Affiliates Trust		13,144		498,289
NETSTREIT Corp. (b)		31,085		439,853
Ryman Hospitality Properties, Inc.		9,871		1,029,940
STAG Industrial, Inc.		18,577		628,274
Terreno Realty Corp.		8,988		531,550
UMH Properties, Inc.		10,658		201,223
				9,328,673

MassMutual Small Company Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Utilities — 2.1%
IDACORP, Inc.		10,386	$	1,134,982
Portland General Electric Co.		8,860		386,473
Southwest Gas Holdings, Inc.		1,536		108,611
TXNM Energy, Inc.		19,083		938,311
				2,568,377
TOTAL COMMON STOCK (Cost $114,455,568)				122,835,037
TOTAL EQUITIES (Cost $114,455,568)				122,835,037
TOTAL LONG-TERM INVESTMENTS (Cost $114,455,568)				122,835,037
SHORT-TERM INVESTMENTS — 1.0%
Investment of Cash Collateral from Securities Loaned — 0.7%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (c)		868,305		868,305
	Principal Amount
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (d)	$	419,863		419,863
TOTAL SHORT-TERM INVESTMENTS (Cost $1,288,168)				1,288,168
TOTAL INVESTMENTS — 100.7% (Cost $115,743,736) (e)				124,123,205
Other Assets/(Liabilities) — (0.7)%				(920,869)
NET ASSETS — 100.0%			$	123,202,336

Abbreviation Legend

ADR American 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 December 31, 2024, was $4,845,088 or 3.93% of net assets. The Fund received $4,075,498 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(d) Maturity value of $419,927. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $428,432.

(e) 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.	3/28/25	SEK	55,956	USD	5,147	$	(66)
Citibank N.A.	3/28/25	USD	180,348	SEK	1,957,323		2,618
						$	2,552

Currency Legend

SEK Swedish Krona

USD U.S. Dollar

MassMutual Mid Cap Growth Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.8%
COMMON STOCK — 98.5%
Communication Services — 5.8%
Liberty Media Corp-Liberty Formula One Class C (a)		487,224	$	45,146,176
Liberty Media Corp-Liberty Live Class C (a)		73,400		4,995,604
Match Group, Inc. (a) (b)		632,562		20,691,103
New York Times Co. Class A		408,200		21,246,810
Reddit, Inc. Class A (a)		168,376		27,519,373
Roku, Inc. (a)		124,900		9,285,066
Spotify Technology SA (a)		68,900		30,824,482
Trade Desk, Inc. Class A (a)		1,033,400		121,455,502
				281,164,116
Consumer Discretionary — 13.3%
Bath & Body Works, Inc.		503,264		19,511,545
Birkenstock Holding PLC (a)		245,358		13,901,984
BorgWarner, Inc.		278,515		8,853,992
Bright Horizons Family Solutions, Inc. (a)		338,110		37,479,493
Burlington Stores, Inc. (a)		209,790		59,802,737
Caesars Entertainment, Inc. (a) (b)		263,428		8,803,764
Chipotle Mexican Grill, Inc. (a)		120,399		7,260,060
Domino's Pizza, Inc.		169,988		71,354,163
DraftKings, Inc. Class A (a)		1,423,098		52,939,246
Duolingo, Inc. (a)		21,400		6,938,522
Five Below, Inc. (a)		214,926		22,558,633
Hilton Worldwide Holdings, Inc.		224,200		55,413,272
Lithia Motors, Inc.		34,588		12,362,789
Lululemon Athletica, Inc. (a)		16,100		6,156,801
Mattel, Inc. (a)		720,530		12,774,997
Mobileye Global, Inc. Class A (a) (b)		257,279		5,124,998
Modine Manufacturing Co. (a)		90,396		10,479,608
On Holding AG, Class A (a) (b)		351,450		19,248,917
Planet Fitness, Inc. Class A (a)		337,000		33,319,190
Ross Stores, Inc.		430,335		65,096,775
Skechers USA, Inc. Class A (a)		73,555		4,945,838
Texas Roadhouse, Inc.		21,400		3,861,202
TopBuild Corp. (a)		30,000		9,340,200
Tractor Supply Co.		206,995		10,983,155
Ulta Beauty, Inc. (a)		33,603		14,614,953
Viking Holdings Ltd. (a)		489,569		21,570,410
Yum! Brands, Inc.		355,959		47,755,459
				642,452,703
Consumer Staples — 3.4%
Boston Beer Co., Inc. Class A (a)		20,800		6,239,584
Casey's General Stores, Inc.		95,500		37,839,965
Constellation Brands, Inc. Class A		79,800		17,635,800
Dollar General Corp.		85,061		6,449,325

MassMutual Mid Cap Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Dollar Tree, Inc. (a)		574,900	$	43,083,006
Lamb Weston Holdings, Inc.		118,344		7,908,930
Maplebear, Inc. (a)		280,600		11,622,452
McCormick & Co., Inc.		190,200		14,500,848
Reynolds Consumer Products, Inc.		479,500		12,941,705
TreeHouse Foods, Inc. (a) (b)		236,200		8,297,706
				166,519,321
Energy — 4.5%
Cheniere Energy, Inc.		331,068		71,136,581
EQT Corp.		885,500		40,830,405
Expand Energy Corp. (b)		204,100		20,318,155
Permian Resources Corp. (b)		909,318		13,075,993
Range Resources Corp.		431,400		15,521,772
TechnipFMC PLC		1,525,034		44,134,484
Weatherford International PLC		164,700		11,797,461
				216,814,851
Financials — 9.2%
Aon PLC Class A		40,071		14,391,900
Apollo Global Management, Inc.		116,377		19,220,825
Assurant, Inc.		242,500		51,705,850
Axis Capital Holdings Ltd.		179,700		15,925,014
Block, Inc. (a)		302,523		25,711,430
Carlyle Group, Inc.		322,838		16,300,091
Cboe Global Markets, Inc.		165,200		32,280,080
Coinbase Global, Inc. Class A (a)		61,998		15,394,104
Corpay, Inc. (a)		109,800		37,158,516
Intercontinental Exchange, Inc.		215,000		32,037,150
KKR & Co., Inc.		194,478		28,765,241
Markel Group, Inc. (a)		9,100		15,708,693
MarketAxess Holdings, Inc.		128,400		29,023,536
MSCI, Inc.		21,438		12,863,014
Nasdaq, Inc.		72,404		5,597,553
Raymond James Financial, Inc.		244,100		37,916,053
Toast, Inc., Class A (a) (b)		797,000		29,050,650
TPG, Inc.		94,600		5,944,664
Tradeweb Markets, Inc. Class A		150,300		19,677,276
				444,671,640
Health Care — 19.5%
Acadia Healthcare Co., Inc. (a)		364,100		14,436,565
Agilent Technologies, Inc.		566,726		76,133,971
Alcon AG		530,444		45,029,391
Align Technology, Inc. (a)		176,645		36,832,249
Alnylam Pharmaceuticals, Inc. (a)		230,974		54,350,492
Argenx SE ADR (a)		26,000		15,990,000
Ascendis Pharma AS ADR (a)		125,700		17,305,119
Avantor, Inc. (a)		2,669,546		56,247,334
Biogen, Inc. (a)		158,600		24,253,112
Bruker Corp.		543,347		31,851,001
Cooper Cos., Inc. (a)		408,900		37,590,177
CRISPR Therapeutics AG (a) (b)		184,214		7,250,663
Cytokinetics, Inc. (a)		244,100		11,482,464
Dexcom, Inc. (a)		183,582		14,277,172
Encompass Health Corp.		97,900		9,041,065

MassMutual Mid Cap Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Enovis Corp. (a)		366,100	$	16,064,468
Exact Sciences Corp. (a) (b)		206,200		11,586,378
GE HealthCare Technologies, Inc. (a)		83,092		6,496,133
Hologic, Inc. (a)		1,193,542		86,042,443
IDEXX Laboratories, Inc. (a)		25,246		10,437,706
Insmed, Inc. (a)		32,915		2,272,452
Inspire Medical Systems, Inc. (a) (b)		72,917		13,517,353
Ionis Pharmaceuticals, Inc. (a)		625,717		21,875,066
Mettler-Toledo International, Inc. (a)		31,303		38,304,855
Molina Healthcare, Inc. (a)		64,700		18,830,935
Natera, Inc. (a)		182,461		28,883,576
Penumbra, Inc. (a)		27,000		6,411,960
Quidelortho Corp. (a)		407,500		18,154,125
ResMed, Inc.		53,741		12,290,029
Sarepta Therapeutics, Inc. (a) (b)		110,369		13,419,767
Steris PLC		60,196		12,373,890
Teleflex, Inc.		363,100		64,624,538
United Therapeutics Corp. (a)		12,211		4,308,529
Vaxcyte, Inc. (a)		93,971		7,692,466
Veeva Systems, Inc. Class A (a)		404,938		85,138,215
West Pharmaceutical Services, Inc.		34,400		11,268,064
				942,063,723
Industrials — 16.6%
Beacon Roofing Supply, Inc. (a)		212,996		21,636,134
Broadridge Financial Solutions, Inc.		142,400		32,195,216
Builders FirstSource, Inc. (a)		69,855		9,984,375
BWX Technologies, Inc.		265,554		29,580,060
Cintas Corp.		52,098		9,518,305
Equifax, Inc.		186,679		47,575,143
Esab Corp.		358,900		43,046,466
Ferguson Enterprises, Inc.		122,400		21,244,968
Fortive Corp.		605,112		45,383,400
FTAI Aviation Ltd. (b)		268,532		38,679,349
Howmet Aerospace, Inc.		76,400		8,355,868
IDEX Corp.		101,400		21,222,006
Ingersoll Rand, Inc.		562,400		50,874,704
ITT, Inc.		55,000		7,858,400
JB Hunt Transport Services, Inc.		251,040		42,842,486
KBR, Inc.		148,854		8,623,112
Knight-Swift Transportation Holdings, Inc.		169,972		9,015,315
L3Harris Technologies, Inc.		60,427		12,706,589
Old Dominion Freight Line, Inc.		85,600		15,099,840
Paylocity Holding Corp. (a)		213,425		42,571,885
Quanta Services, Inc.		95,424		30,158,755
Rollins, Inc.		193,760		8,980,776
Standardaero, Inc. (a)		366,956		9,085,831
Stanley Black & Decker, Inc.		62,655		5,030,570
Textron, Inc.		669,200		51,187,108
TransUnion		363,718		33,720,296
Trex Co., Inc. (a)		79,223		5,468,764
UL Solutions, Inc. Class A		183,498		9,152,880
United Rentals, Inc.		28,100		19,794,764
Veralto Corp.		193,400		19,697,790
Verisk Analytics, Inc.		84,000		23,136,120
Waste Connections, Inc.		137,350		23,566,513

MassMutual Mid Cap Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
XPO, Inc. (a)		336,305	$	44,106,401
				801,100,189
Information Technology — 21.3%
Amphenol Corp. Class A		482,405		33,503,027
AppLovin Corp. Class A (a)		102,144		33,077,292
Arista Networks, Inc. (a)		221,772		24,512,459
Atlassian Corp. Class A (a)		109,800		26,723,124
Bill Holdings, Inc. (a)		203,534		17,241,365
CCC Intelligent Solutions Holdings, Inc. (a)		3,097,414		36,332,666
Cognex Corp.		322,216		11,554,666
Cognizant Technology Solutions Corp. Class A		191,872		14,754,957
Crowdstrike Holdings, Inc. Class A (a)		23,806		8,145,461
Datadog, Inc. Class A (a)		75,299		10,759,474
Entegris, Inc. (b)		19,548		1,936,425
EPAM Systems, Inc. (a)		76,795		17,956,207
Fair Isaac Corp. (a)		29,882		59,492,970
Fortinet, Inc. (a)		582,614		55,045,371
Gartner, Inc. (a)		21,396		10,365,720
Guidewire Software, Inc. (a)		99,216		16,725,833
HubSpot, Inc. (a)		27,475		19,143,756
Keysight Technologies, Inc. (a)		190,400		30,583,952
KLA Corp.		14,150		8,916,198
Lattice Semiconductor Corp. (a) (b)		1,161,706		65,810,645
Littelfuse, Inc. (b)		25,600		6,032,640
Marvell Technology, Inc.		1,246,852		137,714,804
Microchip Technology, Inc.		958,600		54,975,710
Monday.com Ltd. (a)		27,500		6,474,600
MongoDB, Inc. (a)		75,740		17,633,029
Monolithic Power Systems, Inc.		41,086		24,310,586
NXP Semiconductors NV		83,100		17,272,335
Onestream, Inc. (a)		152,319		4,344,138
Palantir Technologies, Inc. Class A (a)		540,622		40,887,242
PTC, Inc. (a)		356,206		65,495,597
Pure Storage, Inc. Class A (a)		385,500		23,681,265
Roper Technologies, Inc.		20,300		10,552,955
ServiceTitan, Inc. Class A (a)		17,888		1,840,139
Twilio, Inc. Class A (a)		230,024		24,860,994
Tyler Technologies, Inc. (a)		89,400		51,551,616
Zoom Communications, Inc. (a)		380,100		31,019,961
Zscaler, Inc. (a)		62,135		11,209,775
				1,032,438,954
Materials — 4.0%
ATI, Inc. (a)		207,981		11,447,275
Avery Dennison Corp.		246,600		46,146,258
Ball Corp.		871,300		48,034,769
Eagle Materials, Inc. (b)		72,370		17,858,021
Martin Marietta Materials, Inc.		70,900		36,619,850
RPM International, Inc.		116,400		14,324,184
Sealed Air Corp.		604,600		20,453,618
				194,883,975
Real Estate — 0.9%
CoStar Group, Inc. (a)		468,956		33,572,560

MassMutual Mid Cap Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
First Industrial Realty Trust, Inc.		168,932	$	8,468,561
				42,041,121
TOTAL COMMON STOCK (Cost $3,739,414,772)				4,764,150,593
PREFERRED STOCK — 0.3%
Consumer Discretionary — 0.0%
Nuro, Inc., Series D (Acquired 10/29/21, Cost $3,125,295) (a) (c) (d) (e)		149,925		1,070,465
Health Care — 0.0%
Caris Life Sciences, Inc., Series D (Acquired 5/11/21, Cost $5,006,003) (a) (c) (d) (e)		618,025		3,040,683
Industrials — 0.1%
Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $7,310,569) (a) (c) (d) (e)		177,128		3,463,525
Information Technology — 0.1%
Databricks, Inc., Series H (Acquired 8/31/21, Cost $3,472,860) (a) (c) (d) (e)		47,260		4,371,550
Materials — 0.1%
Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $3,678,889) (a) (c) (d) (e)		77,608		4,599,826
TOTAL PREFERRED STOCK (Cost $22,593,614)				16,546,049
TOTAL EQUITIES (Cost $3,762,008,386)				4,780,696,642
TOTAL LONG-TERM INVESTMENTS (Cost $3,762,008,386)				4,780,696,642
SHORT-TERM INVESTMENTS — 1.4%
Investment of Cash Collateral from Securities Loaned — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (f)		6,527,238		6,527,238
Mutual Fund — 0.0%
T. Rowe Price Treasury Reserve Fund, 2.474% (g)		370		370
	Principal Amount
Repurchase Agreement — 1.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (h)	$	63,301,606		63,301,606
TOTAL SHORT-TERM INVESTMENTS (Cost $69,829,214)				69,829,214
TOTAL INVESTMENTS — 100.2% (Cost $3,831,837,600) (i)				4,850,525,856
Other Assets/(Liabilities) — (0.2)%				(11,622,374)
NET ASSETS — 100.0%			$	4,838,903,482

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 December 31, 2024, was $88,732,408 or 1.83% of net assets. The Fund received $84,038,340 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) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $16,546,049 or 0.34% of net assets.

(d) Investment is valued using significant unobservable inputs.

(e) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $16,546,049 or 0.34% 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(g) Rate disclosed is the 7-day net yield as of December 31, 2024.

(h)	Maturity value of $63,311,277. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $64,567,786.
(i)	See Note 3 for aggregate cost for federal tax purposes.

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.3%
COMMON STOCK — 99.3%
Communication Services — 1.9%
Cargurus, Inc. (a)		154,815	$	5,656,940
Cinemark Holdings, Inc. (a)		76,246		2,362,101
Criteo SA Sponsored ADR (a)		64,411		2,548,099
New York Times Co. Class A		27,506		1,431,689
Ziff Davis, Inc. (a) (b)		42,003		2,282,443
				14,281,272
Consumer Discretionary — 10.8%
Abercrombie & Fitch Co. Class A (a)		18,643		2,786,569
Acushnet Holdings Corp. (b)		19,982		1,420,321
American Eagle Outfitters, Inc.		122,578		2,043,375
Boot Barn Holdings, Inc. (a)		52,318		7,942,919
Century Communities, Inc.		14,149		1,037,971
Champion Homes, Inc. (a)		72,779		6,411,830
Cheesecake Factory, Inc. (b)		40,832		1,937,070
Duolingo, Inc. (a)		23,201		7,522,460
Genius Sports Ltd. (a)		326,690		2,825,869
Global-e Online Ltd. (a)		34,601		1,886,793
Goodyear Tire & Rubber Co. (a) (b)		163,639		1,472,751
H&R Block, Inc.		27,636		1,460,286
Modine Manufacturing Co. (a)		62,652		7,263,246
Ollie's Bargain Outlet Holdings, Inc. (a)		42,613		4,675,924
Patrick Industries, Inc. (b)		29,819		2,477,363
Planet Fitness, Inc. Class A (a)		16,754		1,656,468
Shake Shack, Inc. Class A (a)		54,808		7,114,078
Steven Madden Ltd.		45,169		1,920,586
Stride, Inc. (a)		19,752		2,052,825
Sweetgreen, Inc. Class A (a) (b)		126,101		4,042,798
Taylor Morrison Home Corp. (a)		27,204		1,665,157
Texas Roadhouse, Inc.		26,133		4,715,177
Visteon Corp. (a)		15,332		1,360,255
Wingstop, Inc.		12,804		3,638,897
YETI Holdings, Inc. (a)		47,402		1,825,451
				83,156,439
Consumer Staples — 2.4%
BellRing Brands, Inc. (a)		80,997		6,102,314
Chefs' Warehouse, Inc. (a)		45,303		2,234,344
Freshpet, Inc. (a)		44,701		6,620,665
Simply Good Foods Co. (a)		56,549		2,204,280
Vital Farms, Inc. (a) (b)		38,978		1,469,081
				18,630,684

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Energy — 3.0%
Archrock, Inc.		101,249	$	2,520,088
Cactus, Inc. Class A		47,341		2,762,821
Gulfport Energy Corp. (a)		17,723		3,264,577
Magnolia Oil & Gas Corp. Class A (b)		81,569		1,907,083
Seadrill Ltd. (a)		41,964		1,633,658
Sitio Royalties Corp. Class A		6,141		117,784
TechnipFMC PLC		126,807		3,669,795
Viper Energy, Inc.		145,471		7,138,262
				23,014,068
Financials — 10.7%
Ameris Bancorp		48,501		3,034,708
Assured Guaranty Ltd.		25,334		2,280,313
Bancorp, Inc. (a)		32,196		1,694,475
Banner Corp.		44,836		2,993,700
Cadence Bank		173,783		5,986,824
Cohen & Steers, Inc. (b)		27,966		2,582,380
Evercore, Inc. Class A		30,946		8,577,922
HA Sustainable Infrastructure Capital, Inc. (b)		164,046		4,401,354
Hamilton Lane, Inc. Class A (b)		44,039		6,519,974
Hancock Whitney Corp.		57,528		3,147,932
Kemper Corp.		28,597		1,899,985
MGIC Investment Corp.		61,290		1,453,186
Mr. Cooper Group, Inc. (a)		43,576		4,183,732
National Bank Holdings Corp. Class A		68,553		2,951,892
Paymentus Holdings, Inc. Class A (a)		23,727		775,161
Piper Sandler Cos.		11,188		3,355,841
PJT Partners, Inc. Class A		39,279		6,198,619
PRA Group, Inc. (a)		87,605		1,830,068
Seacoast Banking Corp. of Florida		106,396		2,929,082
SiriusPoint Ltd. (a) (b)		195,617		3,206,163
StepStone Group, Inc. Class A		127,048		7,353,538
UMB Financial Corp.		28,901		3,261,767
Upstart Holdings, Inc. (a) (b)		30,810		1,896,972
				82,515,588
Health Care — 20.1%
Acadia Healthcare Co., Inc. (a)		62,418		2,474,874
ADMA Biologics, Inc. (a)		70,599		1,210,773
Akero Therapeutics, Inc. (a)		57,019		1,586,269
Alignment Healthcare, Inc. (a)		219,373		2,467,946
Amicus Therapeutics, Inc. (a)		112,637		1,061,041
Apellis Pharmaceuticals, Inc. (a)		36,276		1,157,567
Apogee Therapeutics, Inc. (a)		36,252		1,642,216
Avidity Biosciences, Inc. (a)		69,244		2,013,616
Axsome Therapeutics, Inc. (a)		11,971		1,012,866
Biohaven Ltd. (a)		21,785		813,670
Blueprint Medicines Corp. (a)		45,703		3,986,216
BrightSpring Health Services, Inc. (a) (b)		69,969		1,191,572
Celldex Therapeutics, Inc. (a)		48,009		1,213,187
CG oncology, Inc. (a)		28,223		809,436
Concentra Group Holdings Parent, Inc.		45,693		903,808
Crinetics Pharmaceuticals, Inc. (a) (b)		64,816		3,314,042
Cytokinetics, Inc. (a) (b)		63,716		2,997,201
Disc Medicine, Inc. (a)		26,302		1,667,547

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Encompass Health Corp.		63,797	$	5,891,653
GeneDx Holdings Corp. (a)		23,908		1,837,569
Geron Corp. (a)		254,845		902,151
Glaukos Corp. (a)		59,826		8,970,310
Globus Medical, Inc. Class A (a)		27,831		2,301,902
Haemonetics Corp. (a) (b)		69,109		5,396,031
Halozyme Therapeutics, Inc. (a)		17,786		850,349
HealthEquity, Inc. (a)		72,553		6,961,460
Hims & Hers Health, Inc. (a) (b)		124,043		2,999,360
Immatics NV (a)		157,093		1,116,931
Immunocore Holdings PLC ADR (a) (b)		14,925		440,287
Insmed, Inc. (a)		65,515		4,523,156
Inspire Medical Systems, Inc. (a)		27,998		5,190,269
Integer Holdings Corp. (a)		24,518		3,249,125
Intellia Therapeutics, Inc. (a)		21,647		252,404
Intra-Cellular Therapies, Inc. (a)		62,434		5,214,488
Janux Therapeutics, Inc. (a)		21,580		1,155,393
Krystal Biotech, Inc. (a)		9,102		1,425,919
Kymera Therapeutics, Inc. (a) (b)		41,174		1,656,430
Lantheus Holdings, Inc. (a)		9,826		879,034
Merit Medical Systems, Inc. (a)		37,572		3,633,964
Merus NV (a)		67,853		2,853,219
Myriad Genetics, Inc. (a)		75,630		1,036,887
Nurix Therapeutics, Inc. (a)		82,002		1,544,918
Nuvalent, Inc., Class A (a)		17,466		1,367,238
Option Care Health, Inc. (a)		92,171		2,138,367
PACS Group, Inc. (a)		10,066		131,965
PROCEPT BioRobotics Corp. (a)		103,180		8,308,054
Protagonist Therapeutics, Inc. (a)		24,946		962,916
Prothena Corp. PLC (a) (b)		13,859		191,947
PTC Therapeutics, Inc. (a)		26,025		1,174,768
RadNet, Inc. (a)		51,081		3,567,497
Repligen Corp. (a)		7,734		1,113,232
REVOLUTION Medicines, Inc. (a)		83,506		3,652,552
Rocket Pharmaceuticals, Inc. (a)		149,073		1,873,848
RxSight, Inc. (a)		16,972		583,497
Savara, Inc. (a)		179,050		549,683
Scholar Rock Holding Corp. (a)		27,286		1,179,301
Select Medical Holdings Corp.		56,624		1,067,362
Soleno Therapeutics, Inc. (a)		8,883		399,291
SpringWorks Therapeutics, Inc. (a)		18,910		683,218
Spyre Therapeutics, Inc. (a)		28,959		674,166
Structure Therapeutics, Inc. ADR (a) (b)		33,336		904,072
Surgery Partners, Inc. (a)		38,415		813,246
TransMedics Group, Inc. (a) (b)		14,606		910,684
Twist Bioscience Corp. (a)		80,342		3,733,493
Ultragenyx Pharmaceutical, Inc. (a)		43,472		1,828,867
Vaxcyte, Inc. (a)		48,332		3,956,457
Veracyte, Inc. (a)		32,670		1,293,732
Vericel Corp. (a)		81,397		4,469,509
Verona Pharma PLC ADR (a)		73,938		3,433,681
Viking Therapeutics, Inc. (a) (b)		17,710		712,650
Xenon Pharmaceuticals, Inc. (a)		24,044		942,525
				154,424,874
Industrials — 23.5%
AAON, Inc.		39,707		4,672,720
Acuity Brands, Inc.		8,655		2,528,385

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Air Lease Corp.		53,118	$	2,560,819
Ameresco, Inc. Class A (a)		87,130		2,045,812
Applied Industrial Technologies, Inc.		46,786		11,203,843
Aris Water Solutions, Inc. Class A		59,171		1,417,145
Atmus Filtration Technologies, Inc.		62,356		2,443,108
AZEK Co., Inc. (a)		205,580		9,758,883
Boise Cascade Co.		18,995		2,257,746
Casella Waste Systems, Inc. Class A (a)		80,187		8,484,586
Clean Harbors, Inc. (a)		29,077		6,691,781
Comfort Systems USA, Inc.		18,276		7,750,121
Construction Partners, Inc. Class A (a)		37,461		3,313,800
Crane Co.		27,743		4,210,000
Curtiss-Wright Corp.		20,268		7,192,505
DXP Enterprises, Inc. (a)		26,250		2,168,775
Embraer SA Sponsored ADR (a)		68,441		2,510,416
Enpro, Inc.		15,708		2,708,845
Esab Corp.		37,428		4,489,114
ESCO Technologies, Inc.		18,558		2,472,111
Exlservice Holdings, Inc. (a)		123,277		5,471,033
Federal Signal Corp.		36,850		3,404,571
Flowserve Corp.		100,525		5,782,198
Fluor Corp. (a)		191,225		9,431,217
GATX Corp.		15,925		2,467,738
Helios Technologies, Inc.		24,809		1,107,474
Kirby Corp. (a)		47,099		4,983,074
Korn Ferry		37,582		2,534,906
Leonardo DRS, Inc. (a)		68,140		2,201,603
Loar Holdings, Inc. (a)		18,838		1,392,317
McGrath RentCorp		17,853		1,996,322
Mueller Water Products, Inc. Class A		104,871		2,359,598
MYR Group, Inc. (a)		13,800		2,053,026
NEXTracker, Inc. Class A (a) (b)		38,103		1,391,903
Parsons Corp. (a)		38,440		3,546,090
Powell Industries, Inc. (b)		6,857		1,519,854
Primoris Services Corp.		42,805		3,270,302
Rush Enterprises, Inc. Class A		102,283		5,604,086
RXO, Inc. (a) (b)		97,195		2,317,129
Ryder System, Inc.		18,789		2,947,243
Shoals Technologies Group, Inc. Class A (a)		296,329		1,638,699
SPX Technologies, Inc. (a)		31,563		4,593,048
Sterling Infrastructure, Inc. (a)		9,358		1,576,355
TriNet Group, Inc.		20,362		1,848,259
Verra Mobility Corp. (a)		327,836		7,927,074
Zurn Elkay Water Solutions Corp.		161,796		6,034,991
				180,280,625
Information Technology — 19.3%
Agilysys, Inc. (a)		15,794		2,080,228
Alkami Technology, Inc. (a)		61,197		2,244,706
Appfolio, Inc. Class A (a)		10,719		2,644,592
Astera Labs, Inc. (a)		34,571		4,578,929
AvePoint, Inc. (a)		363,958		6,008,946
Belden, Inc.		23,393		2,634,286
Braze, Inc. Class A (a)		82,199		3,442,494
Calix, Inc. (a)		26,015		907,143
Celestica, Inc. (a) (b)		62,495		5,768,288
Cellebrite DI Ltd. (a)		43,620		960,949
Cirrus Logic, Inc. (a)		18,298		1,822,115

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Clear Secure, Inc. Class A		51,503	$	1,372,040
Clearwater Analytics Holdings, Inc. Class A (a)		272,797		7,507,373
Coherent Corp. (a)		33,977		3,218,641
Commvault Systems, Inc. (a)		20,500		3,093,655
Crane NXT Co.		37,815		2,201,589
Credo Technology Group Holding Ltd. (a)		59,571		4,003,767
CyberArk Software Ltd. (a)		32,001		10,661,133
DoubleVerify Holdings, Inc. (a)		47,570		913,820
ePlus, Inc. (a)		18,228		1,346,685
Fabrinet (a)		11,785		2,591,286
FormFactor, Inc. (a)		31,915		1,404,260
Informatica, Inc. Class A (a)		36,797		954,146
Ingram Micro Holding Corp. (a)		55,547		1,077,056
Intapp, Inc. (a) (b)		89,301		5,723,301
Itron, Inc. (a)		24,336		2,642,403
Jamf Holding Corp. (a)		254,804		3,579,996
Lumentum Holdings, Inc. (a)		52,478		4,405,528
MACOM Technology Solutions Holdings, Inc. (a)		40,567		5,270,059
MKS Instruments, Inc.		16,220		1,693,206
nCino, Inc. (a)		63,420		2,129,643
Novanta, Inc. (a)		17,336		2,648,421
Onestream, Inc. (a)		50,984		1,454,064
PAR Technology Corp. (a)		56,929		4,137,030
Pegasystems, Inc.		58,680		5,468,976
Power Integrations, Inc.		29,194		1,801,270
Q2 Holdings, Inc. (a) (b)		56,101		5,646,566
Semtech Corp. (a)		23,795		1,471,721
SentinelOne, Inc. Class A (a) (b)		186,810		4,147,182
SiTime Corp. (a) (b)		39,692		8,515,125
Sprout Social, Inc. Class A (a)		96,090		2,950,924
Synaptics, Inc. (a)		20,837		1,590,280
Tower Semiconductor Ltd. (a)		50,373		2,594,713
Universal Display Corp.		6,365		930,563
Vertex, Inc. Class A (a)		67,607		3,606,833
Viavi Solutions, Inc. (a)		228,583		2,308,688
				148,154,619
Materials — 3.3%
ATI, Inc. (a)		43,742		2,407,560
Cabot Corp.		84,112		7,680,267
Carpenter Technology Corp.		40,803		6,924,677
Eagle Materials, Inc. (b)		6,311		1,557,302
Element Solutions, Inc.		65,126		1,656,154
Graphic Packaging Holding Co. (b)		79,815		2,167,775
Methanex Corp.		51,450		2,569,413
				24,963,148
Real Estate — 3.4%
American Healthcare REIT, Inc.		145,585		4,137,526
Douglas Emmett, Inc.		107,025		1,986,384
Essential Properties Realty Trust, Inc.		65,935		2,062,447
Highwoods Properties, Inc.		48,748		1,490,714
Independence Realty Trust, Inc. (b)		113,932		2,260,411
Macerich Co.		61,612		1,227,311
Phillips Edison & Co., Inc.		102,555		3,841,710
Ryman Hospitality Properties, Inc.		34,101		3,558,098
SL Green Realty Corp.		27,333		1,856,458

MassMutual Small Cap Growth Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Terreno Realty Corp. (b)		34,881	$	2,062,862
Xenia Hotels & Resorts, Inc.		88,784		1,319,330
				25,803,251
Utilities — 0.9%
IDACORP, Inc.		25,143		2,747,627
ONE Gas, Inc. (b)		32,986		2,284,280
Talen Energy Corp. (a) (b)		8,500		1,712,495
				6,744,402
TOTAL COMMON STOCK (Cost $618,544,962)				761,968,970
TOTAL EQUITIES (Cost $618,544,962)				761,968,970
EXCHANGE-TRADED FUNDS — 0.5%
iShares Russell 2000 ETF (b)		8,378		1,851,203
iShares Russell 2000 Growth ETF (b)		6,883		1,981,065
TOTAL EXCHANGE-TRADED FUNDS (Cost $3,991,905)				3,832,268
TOTAL LONG-TERM INVESTMENTS (Cost $622,536,867)				765,801,238
SHORT-TERM INVESTMENTS — 0.7%
Investment of Cash Collateral from Securities Loaned — 0.4%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (c)		3,140,152		3,140,152
	Principal Amount
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (d)	$	2,642,095		2,642,095
TOTAL SHORT-TERM INVESTMENTS (Cost $5,782,247)				5,782,247
TOTAL INVESTMENTS — 100.5% (Cost $628,319,114) (e)				771,583,485
Other Assets/(Liabilities) — (0.5)%				(4,199,220)
NET ASSETS — 100.0%			$	767,384,265

Abbreviation Legend

ADR American Depositary Receipt

ETF Exchange-Traded Fund

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 December 31, 2024, was $76,976,945 or 10.03% of net assets. The Fund received $75,371,094 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(d) Maturity value of $2,642,499. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $2,695,093.

(e) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Overseas Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 98.6%
COMMON STOCK — 98.2%
Australia — 1.2%
Brambles Ltd.		54,400	$	646,717
Glencore PLC		528,600		2,324,186
Rio Tinto PLC		35,451		2,086,772
				5,057,675
Belgium — 0.8%
Anheuser-Busch InBev SA		18,800		940,679
KBC Group NV		25,545		1,966,604
Liberty Global Ltd. Class A (a)		49,474		631,288
				3,538,571
Canada — 2.8%
Canadian National Railway Co.		31,317		3,178,989
Intact Financial Corp.		11,302		2,057,861
Open Text Corp.		62,490		1,768,474
Suncor Energy, Inc. (SU CN)		70,538		2,517,865
Toronto-Dominion Bank		47,964		2,553,609
				12,076,798
China — 2.4%
Alibaba Group Holding Ltd.		193,540		2,053,937
NetEase, Inc.		145,700		2,599,250
Prosus NV (PRX NA)		42,499		1,685,428
Tencent Holdings Ltd.		72,300		3,863,804
				10,202,419
Denmark — 2.5%
Carlsberg AS Class B		32,958		3,157,187
DSV AS		11,450		2,424,181
Novo Nordisk AS Class B		58,928		5,071,770
				10,653,138
France — 16.4%
Accor SA		45,870		2,221,447
Air Liquide SA		46,992		7,597,322
Airbus SE		20,300		3,235,447
BNP Paribas SA		85,531		5,238,225
Capgemini SE		48,652		7,936,423
Cie de Saint-Gobain SA		50,972		4,486,839
Cie Generale des Etablissements Michelin SCA		75,044		2,464,179
Danone SA		13,500		908,341
Dassault Systemes SE		52,548		1,816,278
Edenred SE		188,922		6,171,631

MassMutual Overseas Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Engie SA		247,398	$	3,921,747
EssilorLuxottica SA		20,949		5,090,586
Kering SA		18,795		4,606,268
Legrand SA		25,993		2,515,493
LVMH Moet Hennessy Louis Vuitton SE		8,061		5,271,000
Pernod Ricard SA		42,224		4,722,436
Publicis Groupe SA		7,969		844,242
Worldline SA (a) (b) (c)		148,400		1,303,651
				70,351,555
Germany — 14.4%
adidas AG		6,685		1,641,628
Allianz SE Registered		8,390		2,571,059
Bayer AG Registered		218,025		4,360,871
Bayerische Motoren Werke AG		47,785		3,909,886
Beiersdorf AG		36,732		4,716,229
Brenntag SE		40,200		2,410,118
Continental AG		66,599		4,472,491
Daimler Truck Holding AG		73,261		2,796,293
Deutsche Boerse AG		27,304		6,291,588
Fresenius Medical Care AG		80,212		3,652,185
Fresenius SE & Co. KGaA (a)		84,700		2,942,013
Henkel AG & Co. KGaA		14,422		1,110,915
Mercedes Benz Group AG		56,173		3,130,562
Merck KGaA		28,446		4,121,677
MTU Aero Engines AG		6,576		2,192,804
SAP SE		36,944		9,041,420
Siemens AG Registered		10,615		2,072,918
thyssenkrupp AG		172,517		700,507
				62,135,164
Hong Kong — 1.9%
AIA Group Ltd.		569,200		4,117,553
Prudential PLC		523,412		4,172,842
				8,290,395
India — 1.3%
Axis Bank Ltd.		81,805		1,019,127
HDFC Bank Ltd.		160,011		3,308,202
Tata Consultancy Services Ltd.		27,123		1,297,284
				5,624,613
Indonesia — 0.2%
Bank Mandiri Persero Tbk. PT		2,888,700		1,016,908
Ireland — 0.7%
AIB Group PLC		510,633		2,818,134
Israel — 0.7%
Check Point Software Technologies Ltd. (a)		16,972		3,168,672
Italy — 3.7%
Eni SpA		217,875		2,976,088
Intesa Sanpaolo SpA		1,697,599		6,789,728

MassMutual Overseas Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Ryanair Holdings PLC Sponsored ADR (b)		142,855	$	6,227,049
				15,992,865
Japan — 12.7%
Daikin Industries Ltd.		31,700		3,713,835
Denso Corp.		265,700		3,686,461
Fujitsu Ltd.		73,900		1,298,044
Hitachi Ltd.		345,200		8,484,531
Hoya Corp.		13,100		1,627,805
Komatsu Ltd.		65,800		1,817,563
Kose Corp.		29,600		1,342,417
Kyocera Corp.		175,300		1,737,650
Mitsubishi Electric Corp.		235,300		3,988,070
Olympus Corp.		181,700		2,706,340
Seven & i Holdings Co. Ltd.		218,500		3,425,167
Shin-Etsu Chemical Co. Ltd.		91,600		3,029,197
SMC Corp.		5,200		2,024,820
Sompo Holdings, Inc.		44,600		1,180,574
Sony Group Corp.		264,200		5,581,445
Sumitomo Mitsui Financial Group, Inc.		146,300		3,523,062
Terumo Corp.		156,700		3,015,407
ZOZO, Inc.		73,700		2,276,551
				54,458,939
Luxembourg — 0.5%
Eurofins Scientific SE		45,400		2,315,869
Netherlands — 2.3%
Akzo Nobel NV		39,200		2,353,726
EXOR NV		20,400		1,863,263
ING Groep NV		272,883		4,266,999
Koninklijke Ahold Delhaize NV		47,400		1,545,846
				10,029,834
Portugal — 0.5%
Galp Energia SGPS SA		122,533		2,031,349
Republic of Korea — 0.8%
KB Financial Group, Inc.		3,600		204,174
NAVER Corp.		10,785		1,456,044
Samsung Electronics Co. Ltd.		52,346		1,889,093
				3,549,311
Singapore — 1.0%
DBS Group Holdings Ltd.		128,950		4,124,613
Spain — 1.1%
Amadeus IT Group SA		68,873		4,845,026
Sweden — 1.1%
Sandvik AB		74,000		1,326,152
SKF AB Class B		103,500		1,940,810
Volvo AB Class B		67,600		1,640,268
				4,907,230

MassMutual Overseas Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Switzerland — 8.0%
Cie Financiere Richemont SA Registered Class A		49,520	$	7,527,227
Julius Baer Group Ltd.		31,873		2,056,095
Novartis AG Registered		69,369		6,751,146
Schindler Holding AG		2,195		604,751
Sika AG Registered		7,730		1,836,942
Sonova Holding AG Registered		7,719		2,512,653
Sunrise Communications AG (a)		8,034		346,105
Swatch Group AG (b)		12,820		2,329,701
UBS Group AG Registered		161,242		4,916,882
Zurich Insurance Group AG		8,953		5,319,510
				34,201,012
Taiwan — 1.5%
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR		32,514		6,421,190
United Kingdom — 10.5%
Ashtead Group PLC		14,200		878,298
Bunzl PLC		3,700		152,323
Compass Group PLC		240,880		8,007,130
Diageo PLC		143,348		4,555,146
Lloyds Banking Group PLC		4,127,397		2,815,603
London Stock Exchange Group PLC		32,656		4,598,179
Reckitt Benckiser Group PLC		43,100		2,603,605
RELX PLC		124,317		5,633,436
Rolls-Royce Holdings PLC (a)		659,588		4,692,925
Schroders PLC		654,232		2,636,929
Smith & Nephew PLC		140,200		1,723,034
Smiths Group PLC		62,656		1,343,587
Tesco PLC		653,707		3,009,056
WPP PLC		254,123		2,631,461
				45,280,712
United States — 9.2%
CNH Industrial NV		410,897		4,655,463
Experian PLC		118,199		5,056,547
Holcim AG		6,084		583,361
Linde PLC (LIN US)		7,144		2,990,979
Nestle SA Registered		73,029		5,988,349
Qiagen NV		56,009		2,497,176
Roche Holding AG		29,275		8,194,310
Schneider Electric SE		37,481		9,265,183
Smurfit WestRock PLC		2,700		145,422
				39,376,790
TOTAL COMMON STOCK (Cost $372,074,142)				422,468,782
PREFERRED STOCK — 0.4%
Republic of Korea — 0.4%
Samsung Electronics Co. Ltd. 3.269%		62,950		1,887,790

MassMutual Overseas Fund —  Portfolio of Investments (Continued)

			Value
TOTAL PREFERRED STOCK (Cost $3,153,632)			$	1,887,790
TOTAL EQUITIES (Cost $375,227,774)				424,356,572
TOTAL LONG-TERM INVESTMENTS (Cost $375,227,774)				424,356,572
SHORT-TERM INVESTMENTS — 1.6%
	Principal Amount
Repurchase Agreement — 1.6%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (d)	$	6,850,465		6,850,465
TOTAL SHORT-TERM INVESTMENTS (Cost $6,850,465)				6,850,465
TOTAL INVESTMENTS — 100.2% (Cost $382,078,239) (e)				431,207,037
Other Assets/(Liabilities) — (0.2)%				(889,601)
NET ASSETS — 100.0%			$	430,317,436

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 December 31, 2024, was $5,466,520 or 1.27% of net assets. The Fund received $5,803,376 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 December 31, 2024, the aggregate market value of these securities amounted to $1,303,651 or 0.30% of net assets.

(d) Maturity value of $6,851,512. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $6,987,761.

(e) See Note 3 for aggregate cost for federal tax purposes.

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.4%
COMMON STOCK — 97.0%
Argentina — 0.1%
Grupo Financiero Galicia SA ADR		10,512	$	655,108
Australia — 1.4%
ANZ Group Holdings Ltd.		83,088		1,464,327
BHP Group Ltd.		122,466		2,988,838
BHP Group Ltd. Class DI (a)		153,448		3,728,957
Challenger Ltd.		139,645		519,809
Downer EDI Ltd.		483,833		1,569,142
Macquarie Group Ltd.		13,497		1,853,200
Scentre Group		913,593		1,942,487
South32 Ltd.		311,981		658,434
Worley Ltd.		264,425		2,242,631
				16,967,825
Austria — 0.8%
BAWAG Group AG (b)		54,875		4,610,221
Erste Group Bank AG		48,884		3,020,338
OMV AG		37,849		1,462,660
				9,093,219
Belgium — 0.0%
Umicore SA		44,400		455,582
Brazil — 1.9%
Arcos Dorados Holdings, Inc. Class A		87,213		634,911
B3 SA - Brasil Bolsa Balcao		1,857,320		3,185,469
Banco BTG Pactual SA		215,100		947,616
Embraer SA (c)		197,400		1,808,385
Itau Unibanco Holding SA Sponsored ADR		43,703		216,767
Klabin SA		619,431		2,328,110
Localiza Rent a Car SA		23,535		122,633
MercadoLibre, Inc. (c)		3,112		5,291,769
Multiplan Empreendimentos Imobiliarios SA		568,059		1,941,706
NU Holdings Ltd. Class A (c)		42,471		440,000
Petroleo Brasileiro SA Sponsored ADR		73,617		946,715
Raia Drogasil SA		544,718		1,931,965
Vale SA Sponsored ADR		66,076		586,094
WEG SA		226,257		2,067,382
				22,449,522
Canada — 4.3%
Brookfield Corp.		43,420		2,495,642
Canadian National Railway Co.		55,668		5,650,859

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Cenovus Energy, Inc.		183,294	$	2,778,515
Constellation Software, Inc.		1,444		4,465,164
Definity Financial Corp. (a)		106,273		4,321,303
Descartes Systems Group, Inc. (c)		17,055		1,937,448
Element Fleet Management Corp.		362,520		7,328,833
Great-West Lifeco, Inc.		73,189		2,427,159
Magna International, Inc.		54,816		2,290,761
National Bank of Canada		61,714		5,625,936
Shopify, Inc. Class A (c)		40,054		4,258,942
Sun Life Financial, Inc.		32,257		1,915,291
Suncor Energy, Inc. (SU CN)		111,423		3,977,261
Suncor Energy, Inc. (SU US)		9,953		355,123
TMX Group Ltd.		68,938		2,123,604
				51,951,841
Chile — 0.4%
Antofagasta PLC		100,199		1,983,129
Banco de Chile		19,395,791		2,199,670
				4,182,799
China — 8.4%
Alibaba Group Holding Ltd.		400,700		4,252,416
Alibaba Group Holding Ltd. Sponsored ADR		51,506		4,367,194
Baidu, Inc. Sponsored ADR (c)		11,992		1,011,045
Bank of Ningbo Co. Ltd. Class A		465,000		1,545,323
BeiGene Ltd. ADR (c)		14,575		2,692,148
Budweiser Brewing Co. APAC Ltd. (b)		194,200		187,301
BYD Co. Ltd. Class H		18,500		630,799
China Construction Bank Corp. Class H		2,987,000		2,484,011
China Oilfield Services Ltd. Class A		716,100		1,494,027
China Resources Gas Group Ltd.		439,800		1,741,369
China Resources Land Ltd.		454,000		1,318,318
CRRC Corp. Ltd. Class A		785,000		899,812
Eastroc Beverage Group Co. Ltd. Class A		15,610		530,885
Fosun International Ltd.		861,000		503,367
Fuyao Glass Industry Group Co. Ltd. Class A		237,900		2,032,274
Hongfa Technology Co. Ltd. Class A		142,200		619,038
Kanzhun Ltd. ADR (c)		16,312		225,106
KE Holdings, Inc. ADR		366,000		6,741,720
Kuaishou Technology (b) (c)		257,200		1,369,516
Kweichow Moutai Co. Ltd. Class A		10,298		2,145,957
Meituan Class B (b) (c)		70,200		1,362,005
Midea Group Co. Ltd. (c)		83,600		812,415
NARI Technology Co. Ltd. Class A		603,221		2,082,712
NetEase, Inc.		66,800		1,191,695
NetEase, Inc. ADR		10,024		894,241
New Oriental Education & Technology Group, Inc. ADR		24,843		1,594,424
NXP Semiconductor NV		12,180		2,531,613
PDD Holdings, Inc. ADR (c)		45,490		4,412,075
Prosus NV (PRX NA)		215,035		8,527,871
Prosus NV (PRX SJ)		68,201		2,707,106
Sany Heavy Industry Co. Ltd. Class A		706,400		1,592,717
Shandong Pharmaceutical Glass Co. Ltd. Class A		246,600		869,804
Shenzhen Inovance Technology Co. Ltd. Class A		258,800		2,071,966
Shenzhou International Group Holdings Ltd.		83,400		657,494
Silergy Corp.		142,000		1,751,181
Sunny Optical Technology Group Co. Ltd.		258,700		2,293,551

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Tencent Holdings Ltd.		184,000	$	9,833,195
Tongcheng Travel Holdings Ltd. (b)		958,000		2,246,461
Trip.com Group Ltd. (c)		35,950		2,478,580
Trip.com Group Ltd. ADR (c)		7,800		535,548
Wanhua Chemical Group Co. Ltd. Class A		94,100		918,451
Wilmar International Ltd.		713,900		1,618,922
Wuliangye Yibin Co. Ltd. Class A		17,000		325,390
Xiaomi Corp. Class B (b) (c)		263,400		1,160,526
Yangzijiang Shipbuilding Holdings Ltd.		1,042,700		2,284,337
Yifeng Pharmacy Chain Co. Ltd. Class A		407,198		1,343,354
Yum China Holdings, Inc.		79,166		3,813,426
Zhongsheng Group Holdings Ltd.		435,000		781,875
ZTO Express Cayman, Inc. ADR		51,618		1,009,132
				100,493,693
Denmark — 1.0%
Genmab AS (c)		12,650		2,635,979
Novo Nordisk AS Class B		50,725		4,365,761
Novo Nordisk AS Sponsored ADR		57,215		4,921,634
				11,923,374
Finland — 0.5%
Mandatum OYJ		170,563		793,051
Sampo OYJ Class A		114,189		4,669,308
Stora Enso OYJ Class R (a)		100,994		1,022,272
				6,484,631
France — 6.7%
Air Liquide SA		17,581		2,842,367
Airbus SE		27,345		4,358,290
Alstom SA (c)		76,718		1,713,673
AXA SA		313,671		11,152,645
BNP Paribas SA		55,553		3,402,265
Capgemini SE		9,018		1,471,073
Cie de Saint-Gobain SA		30,274		2,664,886
Dassault Aviation SA		21,544		4,387,278
Edenred SE		76,709		2,505,900
Engie SA		310,909		4,928,522
EssilorLuxottica SA		9,012		2,189,907
Forvia SE		57,318		515,484
Hermes International SCA		758		1,808,428
Kering SA		3,924		961,692
L'Oreal SA		6,899		2,435,743
Legrand SA		27,211		2,633,366
LVMH Moet Hennessy Louis Vuitton SE		3,200		2,092,445
Safran SA		34,405		7,515,639
Sartorius Stedim Biotech		17,150		3,344,532
Societe Generale SA		43,119		1,207,287
Teleperformance SE		8,151		699,108
Thales SA		17,367		2,477,859
TotalEnergies SE		195,812		10,881,056
Ubisoft Entertainment SA (a) (c)		55,601		760,277
Vinci SA		15,533		1,594,157
				80,543,879

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Germany — 6.4%
Allianz SE Registered		10,717	$	3,284,152
BASF SE		57,231		2,516,641
Bayer AG Registered		88,599		1,772,131
Covestro AG (c)		69,637		4,183,741
Daimler Truck Holding AG		47,857		1,826,650
Deutsche Post AG		46,627		1,641,412
Deutsche Telekom AG Registered		310,843		9,302,649
Douglas AG (c)		48,741		1,020,932
Evotec SE (a) (c)		95,988		815,158
Heidelberg Materials AG		16,970		2,096,531
KION Group AG		50,160		1,655,462
Mercedes Benz Group AG		27,045		1,507,237
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Registered		12,313		6,193,536
Puma SE		21,846		999,333
SAP SE		46,241		11,316,703
Schott Pharma AG & Co. KGaA		33,196		865,438
Siemens AG Registered		91,253		17,820,062
Siemens Healthineers AG (b)		119,491		6,335,472
Springer Nature AG & Co. KGaA (c)		32,764		922,798
				76,076,038
Guatemala — 0.1%
Millicom International Cellular SA SDR (c)		62,476		1,532,739
Hong Kong — 1.4%
AIA Group Ltd.		1,002,400		7,251,291
Futu Holdings Ltd. ADR		14,783		1,182,492
Hongkong Land Holdings Ltd.		258,200		1,148,133
Jardine Matheson Holdings Ltd.		32,500		1,330,107
Prudential PLC		601,690		4,796,904
Wharf Real Estate Investment Co. Ltd.		191,000		488,504
				16,197,431
Hungary — 0.5%
OTP Bank Nyrt (d)		99,007		5,406,491
India — 4.7%
Ashok Leyland Ltd.		690,046		1,774,138
Asian Paints Ltd.		27,470		732,438
Astral Ltd.		4,664		89,931
Avenue Supermarts Ltd. (b) (c)		6,046		251,297
Axis Bank Ltd.		321,082		4,000,041
Bharti Airtel Ltd.		59,116		1,098,916
Divi's Laboratories Ltd.		5,772		411,221
HDFC Asset Management Co. Ltd. (b)		7,847		385,955
HDFC Bank Ltd.		101,894		2,106,642
HDFC Life Insurance Co. Ltd. (b)		151,606		1,093,571
Hindalco Industries Ltd.		249,530		1,754,987
Hindustan Unilever Ltd.		29,909		812,384
ICICI Bank Ltd.		503,569		7,541,424
ICICI Bank Ltd. Sponsored ADR		51,887		1,549,346
Indraprastha Gas Ltd.		384,626		1,861,392
Infosys Ltd.		96,476		2,119,964
InterGlobe Aviation Ltd. (b) (c)		13,889		738,316
Kotak Mahindra Bank Ltd.		234,632		4,881,872
Larsen & Toubro Ltd.		92,648		3,900,240

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
NTPC Ltd.		958,934	$	3,728,205
Power Grid Corp. of India Ltd.		214,248		773,149
Reliance Industries Ltd.		389,093		5,515,844
Shree Cement Ltd.		4,836		1,449,992
Shriram Finance Ltd.		62,187		2,095,594
Tata Consultancy Services Ltd.		14,987		716,823
Tech Mahindra Ltd.		97,064		1,927,038
Titan Co. Ltd.		19,209		729,457
Varun Beverages Ltd.		133,027		987,505
Voltas Ltd.		40,844		854,582
				55,882,264
Indonesia — 1.0%
Bank Central Asia Tbk. PT		8,014,000		4,802,621
Bank Mandiri Persero Tbk. PT		2,439,900		858,918
Bank Rakyat Indonesia Persero Tbk. PT		10,347,764		2,611,115
Sarana Menara Nusantara Tbk. PT		3,960,300		161,039
Semen Indonesia Persero Tbk. PT		3,053,700		622,686
Sumber Alfaria Trijaya Tbk. PT		3,660,000		646,988
Telkom Indonesia Persero Tbk. PT		12,948,400		2,171,965
				11,875,332
Ireland — 0.2%
AerCap Holdings NV		20,012		1,915,148
Italy — 2.1%
Banca Mediolanum SpA		133,588		1,589,080
DiaSorin SpA		19,057		1,964,451
Enel SpA		508,440		3,636,819
Intesa Sanpaolo SpA		444,716		1,778,689
Leonardo SpA		131,490		3,539,045
Moncler SpA		30,813		1,636,612
Prysmian SpA		56,987		3,656,010
UniCredit SpA		188,027		7,506,885
				25,307,591
Japan — 14.2%
Asahi Group Holdings Ltd.		194,700		2,040,460
Asahi Kasei Corp.		130,100		896,110
Astellas Pharma, Inc.		158,600		1,538,676
Calbee, Inc.		98,300		1,959,843
Central Japan Railway Co.		55,800		1,045,040
Chugai Pharmaceutical Co. Ltd.		126,400		5,561,026
CyberAgent, Inc.		154,200		1,063,627
Daiichi Sankyo Co. Ltd.		58,000		1,594,263
Denso Corp.		148,900		2,065,917
Disco Corp.		9,900		2,672,210
Electric Power Development Co. Ltd.		77,400		1,260,178
Fujitsu Ltd.		123,100		2,162,236
Hamamatsu Photonics KK		184,300		2,045,521
Hikari Tsushin, Inc.		9,100		1,981,442
Hitachi Ltd.		220,600		5,422,038
Isetan Mitsukoshi Holdings Ltd.		160,600		2,752,485
Kao Corp. (a)		9,600		388,019
Keyence Corp.		6,300		2,563,487
Kirin Holdings Co. Ltd. (a)		50,500		655,360

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Kyushu Railway Co. (d)		66,200	$	1,606,168
LY Corp.		310,600		822,204
MatsukiyoCocokara & Co.		97,200		1,414,153
MINEBEA MITSUMI, Inc.		47,800		767,520
Mitsubishi Corp.		79,300		1,297,320
Mitsubishi Electric Corp.		306,400		5,193,135
Mitsubishi Estate Co. Ltd.		178,900		2,467,556
Mitsubishi HC Capital, Inc.		120,400		797,500
Mitsubishi UFJ Financial Group, Inc.		730,600		8,568,043
Mitsui Fudosan Co. Ltd.		606,700		4,824,641
Murata Manufacturing Co. Ltd.		60,100		960,541
Nextage Co. Ltd. (a)		92,300		824,192
Nippon Sanso Holdings Corp.		46,900		1,302,448
Nippon Steel Corp.		74,100		1,487,979
Nippon Telegraph & Telephone Corp.		5,901,800		5,904,944
Niterra Co. Ltd.		32,100		1,023,137
Nomura Research Institute Ltd.		52,300		1,538,585
Olympus Corp.		217,900		3,245,522
Omron Corp.		23,700		795,757
Open House Group Co. Ltd.		27,800		935,678
ORIX Corp.		118,800		2,539,793
Panasonic Holdings Corp.		191,500		1,988,207
Persol Holdings Co. Ltd.		1,501,700		2,237,579
Recruit Holdings Co. Ltd.		104,000		7,235,976
Renesas Electronics Corp.		589,000		7,487,849
Resona Holdings, Inc.		239,100		1,739,932
Sega Sammy Holdings, Inc.		68,400		1,326,624
Seven & i Holdings Co. Ltd.		705,000		11,051,454
Shin-Etsu Chemical Co. Ltd. (d)		90,100		2,979,592
Shionogi & Co. Ltd.		47,100		659,912
SMC Corp.		2,000		778,777
Sompo Holdings, Inc.		122,500		3,242,608
Sony Group Corp.		376,700		7,958,101
Stanley Electric Co. Ltd.		90,100		1,478,020
Subaru Corp. (d)		42,900		755,970
SUMCO Corp. (a)		90,200		668,217
Sumitomo Corp.		184,000		3,956,061
Sumitomo Mitsui Trust Group, Inc.		46,700		1,096,200
Suzuki Motor Corp.		145,900		1,655,068
Taiheiyo Cement Corp.		54,400		1,225,056
Takeda Pharmaceutical Co. Ltd.		105,300		2,791,624
TechnoPro Holdings, Inc. (a)		66,900		1,249,626
THK Co. Ltd.		40,900		937,802
Tokio Marine Holdings, Inc.		121,900		4,365,572
Tokyo Electron Ltd.		11,300		1,712,407
Toyota Motor Corp.		518,000		10,210,951
Welcia Holdings Co. Ltd.		28,500		370,489
Yamaha Corp.		144,600		1,043,715
				170,188,143
Luxembourg — 0.5%
ArcelorMittal SA		61,543		1,424,960
CVC Capital Partners PLC (b) (c)		183,841		4,029,204
				5,454,164
Macau — 0.1%
Galaxy Entertainment Group Ltd.		326,000		1,373,486

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Malaysia — 0.3%
CIMB Group Holdings Bhd.		1,234,896	$	2,261,798
Tenaga Nasional Bhd.		395,100		1,320,692
				3,582,490
Mexico — 0.8%
Fomento Economico Mexicano SAB de CV ADR		7,169		612,878
Gruma SAB de CV Class B		111,586		1,741,193
Grupo Aeroportuario del Pacifico SAB de CV ADR		10,749		1,880,968
Grupo Financiero Banorte SAB de CV Class O		34,200		220,378
Grupo Mexico SAB de CV Series B		660,439		3,144,616
Wal-Mart de Mexico SAB de CV		588,730		1,549,542
				9,149,575
Netherlands — 4.6%
Adyen NV (b) (c)		1,485		2,190,798
Akzo Nobel NV		49,098		2,948,042
Argenx SE ADR (c)		7,255		4,461,825
ASML Holding NV		22,825		16,052,416
ASR Nederland NV		28,307		1,342,491
BE Semiconductor Industries NV		7,854		1,062,197
Euronext NV (b)		13,781		1,544,581
Heineken NV		96,338		6,840,428
ING Groep NV		711,538		11,126,132
Koninklijke Philips NV (c)		270,827		6,872,351
				54,441,261
Norway — 0.8%
DNB Bank ASA		197,414		3,935,878
Equinor ASA		152,008		3,592,832
Storebrand ASA		212,212		2,261,122
				9,789,832
Peru — 0.0%
Credicorp Ltd.		2,772		508,163
Philippines — 0.4%
Ayala Corp.		38,380		396,953
BDO Unibank, Inc.		395,084		978,552
Jollibee Foods Corp.		154,770		720,701
SM Investments Corp.		166,620		2,583,766
				4,679,972
Poland — 0.1%
Powszechny Zaklad Ubezpieczen SA		126,326		1,401,313
Portugal — 1.0%
Banco Comercial Portugues SA Class R		4,184,523		2,014,376
Galp Energia SGPS SA		326,350		5,410,223
Jeronimo Martins SGPS SA		260,737		4,982,757
				12,407,356
Republic of Korea — 2.7%
CJ CheilJedang Corp.		352		61,021

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Coupang, Inc. (c)		54,333	$	1,194,239
HL Mando Co. Ltd.		35,897		990,162
Hyundai Mobis Co. Ltd.		4,034		647,767
Hyundai Motor Co.		17,422		2,505,466
KB Financial Group, Inc.		36,188		2,052,404
KT Corp. Sponsored ADR (a)		120,400		1,868,608
KT Corp.		53,200		1,589,679
LG Chem Ltd.		8,615		1,461,070
NAVER Corp.		10,277		1,387,461
Samsung Electronics Co. Ltd.		379,319		13,689,085
Samsung Life Insurance Co. Ltd. (c)		27,432		1,756,601
SK Hynix, Inc.		25,104		2,848,604
				32,052,167
Russia — 0.0%
Novatek PJSC (c) (e) (f)		73,140		—
Saudi Arabia — 1.0%
Al Rajhi Bank		89,809		2,257,482
Arabian Internet & Communications Services Co.		1,378		98,807
Saudi Awwal Bank		219,414		1,964,616
Saudi Basic Industries Corp.		70,055		1,249,110
Saudi National Bank		736,705		6,547,936
				12,117,951
Singapore — 1.0%
DBS Group Holdings Ltd.		70,690		2,261,100
Sea Ltd. ADR (c)		18,526		1,965,609
Seatrium Ltd. (a) (c)		809,600		1,228,406
United Overseas Bank Ltd.		235,900		6,278,386
				11,733,501
South Africa — 0.3%
Bid Corp. Ltd.		24,700		563,559
Capitec Bank Holdings Ltd.		2,208		366,730
Clicks Group Ltd.		29,107		576,280
FirstRand Ltd.		442,963		1,782,542
Kumba Iron Ore Ltd.		12,973		225,414
				3,514,525
Spain — 0.5%
Amadeus IT Group SA		60,594		4,262,621
Puig Brands SA Class B (c)		34,931		643,373
Redeia Corp. SA		58,187		994,085
				5,900,079
Sweden — 1.6%
Assa Abloy AB Class B		69,462		2,042,078
Autoliv, Inc.		19,522		1,813,949
Boliden AB		42,654		1,194,331
Elekta AB Class B		143,765		794,317
Essity AB Class B		152,192		4,069,076
Sandvik AB		101,997		1,827,886
Skandinaviska Enskilda Banken AB Class A		98,197		1,345,548
Swedbank AB Class A		86,177		1,699,828

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Telefonaktiebolaget LM Ericsson Class B		573,963	$	4,639,546
				19,426,559
Switzerland — 2.8%
ABB Ltd. Registered		82,498		4,437,659
Barry Callebaut AG Registered		451		597,960
Cie Financiere Richemont SA Registered Class A		22,698		3,450,182
Julius Baer Group Ltd.		117,494		7,579,420
Novartis AG Registered		78,105		7,601,354
Partners Group Holding AG		2,143		2,908,828
Sandoz Group AG		51,475		2,107,500
Sonova Holding AG Registered		5,210		1,695,935
Zurich Insurance Group AG		4,330		2,572,711
				32,951,549
Taiwan — 5.5%
Accton Technology Corp.		73,000		1,714,048
ASE Technology Holding Co. Ltd.		445,000		2,184,394
Chailease Holding Co. Ltd.		170,530		586,139
Delta Electronics, Inc.		52,000		677,068
Eclat Textile Co. Ltd.		100,000		1,545,350
Hon Hai Precision Industry Co. Ltd.		432,000		2,406,114
Largan Precision Co. Ltd.		9,000		728,787
MediaTek, Inc.		107,000		4,594,248
Taiwan Semiconductor Manufacturing Co. Ltd.		1,571,000		51,298,668
				65,734,816
Thailand — 0.5%
Bangkok Bank PCL Foreign Registered		448,900		1,985,946
SCB X PCL		712,900		2,446,379
True Corp. PCL NVDR (c)		6,248,300		2,035,572
				6,467,897
United Arab Emirates — 0.1%
ADNOC Drilling Co. PJSC		1,054,744		1,529,062
United Kingdom — 9.9%
Ashtead Group PLC		10,867		672,146
AstraZeneca PLC Sponsored ADR		260,913		17,095,020
Barclays PLC		1,025,052		3,432,733
Bridgepoint Group PLC (b)		599,029		2,674,787
British American Tobacco PLC		42,200		1,530,250
BT Group PLC (a)		2,305,959		4,157,384
Bunzl PLC		48,735		2,006,336
CK Hutchison Holdings Ltd.		254,500		1,364,177
Compass Group PLC		127,120		4,225,616
DCC PLC		22,751		1,461,391
Diageo PLC		67,575		2,147,319
Dowlais Group PLC		503,524		422,757
Great Portland Estates PLC		103,756		374,051
Hiscox Ltd.		149,050		2,020,881
HSBC Holdings PLC		510,798		5,019,968
Imperial Brands PLC		144,978		4,632,859
Informa PLC		170,877		1,701,941
Investec PLC		143,418		976,375
Johnson Matthey PLC		56,256		943,386

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Kingfisher PLC		666,146	$	2,066,616
Legal & General Group PLC		308,212		882,977
Lloyds Banking Group PLC		3,493,067		2,382,879
London Stock Exchange Group PLC		14,993		2,111,113
Melrose Industries PLC		392,903		2,723,021
National Grid PLC		501,927		5,947,976
Next PLC		21,291		2,530,223
Pearson PLC		115,632		1,853,505
Persimmon PLC		64,235		960,311
Rolls-Royce Holdings PLC (c)		1,114,654		7,930,690
Segro PLC		204,939		1,798,497
Smith & Nephew PLC		159,868		1,964,750
Smiths Group PLC		72,840		1,561,971
SSE PLC		81,348		1,632,580
Standard Chartered PLC		390,825		4,814,492
Taylor Wimpey PLC		865,036		1,317,308
Unilever PLC (ULVR LN)		212,379		12,027,548
Unilever PLC (UNA NA)		41,119		2,330,256
WPP PLC		489,510		5,068,910
				118,765,000
United States — 6.4%
Alcon AG		54,916		4,650,398
Amcor PLC CDI		121,954		1,130,653
BP PLC		874,391		4,308,702
Broadcom, Inc.		28,655		6,643,375
BRP, Inc. (a)		24,574		1,251,565
Canva, Inc. (Acquired 8/16/21-11/04/21, Cost $652,842) (c) (e) (f) (g)		383		506,889
Cognizant Technology Solutions Corp. Class A		27,876		2,143,664
Experian PLC		33,033		1,413,150
Globant SA (c)		8,078		1,732,085
GSK PLC Sponsored ADR (a)		89,185		3,016,237
ICON PLC (c)		16,700		3,502,157
Linde PLC (LIN GR)		3,536		1,477,792
Linde PLC (LIN US)		17		7,117
Mastercard, Inc. Class A		1,927		1,014,700
Nestle SA Registered		116,206		9,528,846
Roche Holding AG		35,346		9,893,633
Samsonite International SA (b)		309,000		859,401
Sanofi SA		112,378		10,867,380
Schneider Electric SE		5,153		1,273,805
Shell PLC ADR		52,769		3,305,978
Signify NV (b)		49,780		1,111,724
Stellantis NV		107,744		1,411,465
Tenaris SA		107,412		2,025,055
Waste Connections, Inc.		21,064		3,614,161
				76,689,932
TOTAL COMMON STOCK (Cost $1,025,850,887)				1,159,253,300
PREFERRED STOCK — 0.4%
Brazil — 0.1%
Banco Bradesco SA 7.096%
		865,700		1,629,087

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Germany — 0.3%
Dr. Ing hc F Porsche AG 3.962% (b)		19,959	$	1,207,311
Sartorius AG 0.346%		1,185		264,129
Volkswagen AG 10.166%		22,427		2,069,138
				3,540,578
United States — 0.0%
Canva, Inc., Series A, (Acquired 11/04/21, Cost $39,209) (c) (e) (f) (g)		23		30,440
TOTAL PREFERRED STOCK (Cost $7,481,554)				5,200,105
TOTAL EQUITIES (Cost $1,033,332,441)				1,164,453,405
WARRANTS — 0.0%
Canada — 0.0%
Constellation Software, Inc., Expires 3/31/40 (a) (c) (e) (f)		1,982		—
TOTAL WARRANTS (Cost $0)				—
TOTAL LONG-TERM INVESTMENTS (Cost $1,033,332,441)				1,164,453,405
SHORT-TERM INVESTMENTS — 2.6%
Investment of Cash Collateral from Securities Loaned — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (h)		1,049,124		1,049,124
Mutual Fund — 2.4%
T. Rowe Price Government Reserve Investment Fund, 2.481% (i)		28,498,756		28,498,756
	Principal Amount
Repurchase Agreement — 0.1%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (j)	$	1,034,135		1,034,135
U.S. Treasury Bill — 0.0%
U.S. Treasury Bills
4.600% 1/23/25 (k)		374,000		373,065
				373,065
TOTAL SHORT-TERM INVESTMENTS (Cost $30,954,989)				30,955,080

MassMutual Select T. Rowe Price International Equity Fund —  Portfolio of Investments (Continued)

	Value
TOTAL INVESTMENTS — 100.0% (Cost $1,064,287,430) (l)	$	1,195,408,485
Other Assets/(Liabilities) — 0.0%		362,978
NET ASSETS — 100.0%	$	1,195,771,463

Abbreviation Legend

ADR American Depositary Receipt

SDR Swedish 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 December 31, 2024, was $20,916,162 or 1.75% of net assets. The Fund received $20,905,992 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) 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 December 31, 2024, the aggregate market value of these securities amounted to $33,358,447 or 2.79% of net assets.

(c) Non-income producing security.

(d) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis.

(e) Investment is valued using significant unobservable inputs.

(f) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $537,329 or 0.04% of net assets.

(g) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $537,329 or 0.04% 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(i) Rate disclosed is the 7-day net yield as of December 31, 2024.

(j) Maturity value of $1,034,293. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,054,916.

(k)	The rate shown represents yield-to-maturity.
(l)	See Note 3 for aggregate cost for federal tax purposes.

OTC Options Written
Description	Counterparty	Expiration Date		Exercise Price		No. of Contracts		Notional Amount		Value		Premiums Paid/(Received)		Unrealized Appreciation (Depreciation)
Call
KE Holdings Inc., ADR	Morgan Stanley & Co. LLC		1/17/25		27.00		188	USD	507,600	$	(154)	$	(51,324)	$	51,170
KE Holdings Inc., ADR	Morgan Stanley & Co. LLC		1/17/25		28.00		148	USD	414,400		(91)		(16,775)		16,684
Sea Ltd. ADR	Morgan Stanley & Co. LLC		2/21/25		130.00		13	USD	169,000		—		(5,043)		5,043
										$	(245)	$	(73,142)	$	72,897

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
BNP Paribas SA	1/15/25	JPY	909,163,000	USD	6,019,269	$	(235,609)
State Street Bank and Trust	1/02/25	HUF	8,975,213	USD	22,660		(63)
State Street Bank and Trust	1/06/25	JPY	5,048,449	USD	31,994		91
State Street Bank and Trust	1/06/25	USD	97,537	JPY	15,390,571		(277)
State Street Bank and Trust	1/07/25	JPY	29,631,974	USD	187,758		567
State Street Bank and Trust	1/07/25	USD	97,329	JPY	15,360,466		(294)
						$	(235,585)

Currency Legend

HUF Hungarian Forint

JPY Japanese Yen

USD U.S. Dollar

MassMutual 20/80 Allocation Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 20.6%
DFA Commodity Strategy Portfolio		202,384	$	906,681
Invesco Real Estate Fund, Class R6		43,703		733,781
MassMutual Blue Chip Growth Fund, Class I (a)		191,325		4,501,888
MassMutual Diversified Value Fund, Class I (a)		458,688		4,362,124
MassMutual Equity Opportunities Fund, Class I (a)		299,574		5,002,891
MassMutual International Equity Fund, Class I (a)		164,619		1,284,027
MassMutual Mid Cap Growth Fund, Class I (a)		55,894		1,080,433
MassMutual Mid Cap Value Fund, Class I (a)		97,514		1,099,954
MassMutual Overseas Fund, Class I (a)		322,937		2,648,086
MassMutual Small Cap Growth Equity Fund, Class I (a)		18,563		299,425
MassMutual Small Cap Value Equity Fund, Class I (a)		70,416		578,818
MassMutual Strategic Emerging Markets Fund, Class I (a)		50,793		501,327
MM Equity Asset Fund, Class I (a)		1,180,544		9,090,188
Vanguard Developed Markets Index Fund, Admiral Shares		171,041		2,627,192
Vanguard Emerging Markets Stock Index Fund, Admiral Shares		15,667		576,074
Vanguard Mid-Cap Index Fund, Admiral Shares		4,612		1,507,672
Vanguard Small-Cap Index Fund, Admiral Shares		5,203		599,157
				37,399,718
Fixed Income Funds — 79.4%
Invesco International Bond Fund, Class R6		1,704,443		7,346,149
MassMutual Core Bond Fund, Class I (a)		7,405,541		66,501,754
MassMutual Global Floating Rate Fund, Class I (a)		25,494		223,072
MassMutual High Yield Fund, Class I (a)		66,111		531,531
MassMutual Inflation-Protected and Income Fund, Class I (a)		78,759		723,797
MassMutual Short-Duration Bond Fund, Class I (a)		1,300,746		11,966,859
MassMutual Total Return Bond Fund, Class I (a)		5,079,430		41,752,913
Vanguard Long-Term Treasury Index Fund, Admiral Shares		156,635		2,916,537
Vanguard Total Bond Market Index Fund, Institutional Shares		1,268,928		12,029,436
				143,992,048
TOTAL MUTUAL FUNDS (Cost $193,747,487)				181,391,766
TOTAL LONG-TERM INVESTMENTS (Cost $193,747,487)				181,391,766
TOTAL INVESTMENTS — 100.0% (Cost $193,747,487) (b)				181,391,766
Other Assets/(Liabilities) — (0.0)%				(82,104)
NET ASSETS — 100.0%			$	181,309,662

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 40.7%
DFA Commodity Strategy Portfolio		206,917	$	926,987
Invesco Real Estate Fund, Class R6		81,535		1,368,975
MassMutual Blue Chip Growth Fund, Class I (a)		350,962		8,258,128
MassMutual Diversified Value Fund, Class I (a)		857,526		8,155,071
MassMutual Equity Opportunities Fund, Class I (a)		570,239		9,522,988
MassMutual International Equity Fund, Class I (a)		290,569		2,266,442
MassMutual Mid Cap Growth Fund, Class I (a)		104,773		2,025,254
MassMutual Mid Cap Value Fund, Class I (a)		182,480		2,058,376
MassMutual Overseas Fund, Class I (a)		592,470		4,858,253
MassMutual Small Cap Growth Equity Fund, Class I (a)		34,645		558,819
MassMutual Small Cap Value Equity Fund, Class I (a)		130,944		1,076,362
MassMutual Strategic Emerging Markets Fund, Class I (a)		89,225		880,649
MM Equity Asset Fund, Class I (a)		2,250,408		17,328,145
Vanguard Developed Markets Index Fund, Institutional Shares		348,816		5,364,793
Vanguard Emerging Markets Stock Index Fund, Admiral Shares		32,009		1,176,973
Vanguard Mid-Cap Index Fund, Admiral Shares		9,422		3,079,796
Vanguard Small-Cap Index Fund, Admiral Shares		10,628		1,223,927
				70,129,938
Fixed Income Funds — 59.4%
Invesco International Bond Fund, Class R6		1,200,720		5,175,103
MassMutual Core Bond Fund, Class I (a)		5,202,518		46,718,610
MassMutual Global Floating Rate Fund, Class I (a)		19,491		170,543
MassMutual High Yield Fund, Class I (a)		46,298		372,238
MassMutual Inflation-Protected and Income Fund, Class I (a)		57,226		525,911
MassMutual Short-Duration Bond Fund, Class I (a)		928,794		8,544,909
MassMutual Total Return Bond Fund, Class I (a)		3,553,648		29,210,990
Vanguard Long-Term Treasury Index Fund, Admiral Shares		131,490		2,448,339
Vanguard Total Bond Market Index Fund, Institutional Shares		966,534		9,162,745
				102,329,388
TOTAL MUTUAL FUNDS (Cost $182,094,957)				172,459,326
TOTAL LONG-TERM INVESTMENTS (Cost $182,094,957)				172,459,326
TOTAL INVESTMENTS — 100.1% (Cost $182,094,957) (b)				172,459,326
Other Assets/(Liabilities) — (0.1)%				(150,555)
NET ASSETS — 100.0%			$	172,308,771

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 60.5%
DFA Commodity Strategy Portfolio		192,386	$	861,887
Invesco Real Estate Fund, Class R6		109,164		1,832,859
MassMutual Blue Chip Growth Fund, Class I (a)		474,706		11,169,822
MassMutual Diversified Value Fund, Class I (a)		1,141,277		10,853,540
MassMutual Equity Opportunities Fund, Class I (a)		767,204		12,812,312
MassMutual International Equity Fund, Class I (a)		373,884		2,916,296
MassMutual Mid Cap Growth Fund, Class I (a)		139,466		2,695,869
MassMutual Mid Cap Value Fund, Class I (a)		243,720		2,749,158
MassMutual Overseas Fund, Class I (a)		773,588		6,343,423
MassMutual Small Cap Growth Equity Fund, Class I (a)		46,087		743,380
MassMutual Small Cap Value Equity Fund, Class I (a)		175,141		1,439,656
MassMutual Strategic Emerging Markets Fund, Class I (a)		117,077		1,155,553
MM Equity Asset Fund, Class I (a)		3,029,655		23,328,340
Vanguard Developed Markets Index Fund, Institutional Shares		486,609		7,484,049
Vanguard Emerging Markets Stock Index Fund, Admiral Shares		44,671		1,642,557
Vanguard Mid-Cap Index Fund, Admiral Shares		13,146		4,297,093
Vanguard Small-Cap Index Fund, Admiral Shares		14,830		1,707,784
				94,033,578
Fixed Income Funds — 39.6%
Invesco International Bond Fund, Class R6		718,404		3,096,323
MassMutual Core Bond Fund, Class I (a)		3,107,482		27,905,187
MassMutual Global Floating Rate Fund, Class I (a)		12,038		105,336
MassMutual High Yield Fund, Class I (a)		27,502		221,114
MassMutual Inflation-Protected and Income Fund, Class I (a)		34,705		318,943
MassMutual Short-Duration Bond Fund, Class I (a)		553,259		5,089,987
MassMutual Total Return Bond Fund, Class I (a)		2,102,675		17,283,987
Vanguard Long-Term Treasury Index Fund, Admiral Shares		96,058		1,788,598
Vanguard Total Bond Market Index Fund, Institutional Shares		593,277		5,624,264
				61,433,739
TOTAL MUTUAL FUNDS (Cost $158,392,091)				155,467,317
TOTAL LONG-TERM INVESTMENTS (Cost $158,392,091)				155,467,317
TOTAL INVESTMENTS — 100.1% (Cost $158,392,091) (b)				155,467,317
Other Assets/(Liabilities) — (0.1)%				(120,404)
NET ASSETS — 100.0%			$	155,346,913

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 80.5%
DFA Commodity Strategy Portfolio		146,285	$	655,357
Invesco Real Estate Fund, Class R6		115,444		1,938,298
MassMutual Blue Chip Growth Fund, Class I (a)		505,249		11,888,513
MassMutual Diversified Value Fund, Class I (a)		1,204,598		11,455,728
MassMutual Equity Opportunities Fund, Class I (a)		805,173		13,446,394
MassMutual International Equity Fund, Class I (a)		408,646		3,187,436
MassMutual Mid Cap Growth Fund, Class I (a)		146,751		2,836,691
MassMutual Mid Cap Value Fund, Class I (a)		256,869		2,897,485
MassMutual Overseas Fund, Class I (a)		847,084		6,946,089
MassMutual Small Cap Growth Equity Fund, Class I (a)		48,633		784,444
MassMutual Small Cap Value Equity Fund, Class I (a)		184,795		1,519,015
MassMutual Strategic Emerging Markets Fund, Class I (a)		126,967		1,253,162
MM Equity Asset Fund, Class I (a)		3,245,783		24,992,527
Vanguard Developed Markets Index Fund, Institutional Shares		493,818		7,594,928
Vanguard Emerging Markets Stock Index Fund, Admiral Shares		45,331		1,666,824
Vanguard Mid-Cap Index Fund, Admiral Shares		13,340		4,360,338
Vanguard Small-Cap Index Fund, Admiral Shares		15,047		1,732,848
				99,156,077
Fixed Income Funds — 19.6%
Invesco International Bond Fund, Class R6		282,706		1,218,461
MassMutual Core Bond Fund, Class I (a)		1,208,915		10,856,057
MassMutual Global Floating Rate Fund, Class I (a)		7,861		68,780
MassMutual High Yield Fund, Class I (a)		7,940		63,841
MassMutual Inflation-Protected and Income Fund, Class I (a)		13,621		125,179
MassMutual Short-Duration Bond Fund, Class I (a)		213,772		1,966,705
MassMutual Total Return Bond Fund, Class I (a)		829,382		6,817,520
Vanguard Long-Term Treasury Index Fund, Admiral Shares		53,220		990,948
Vanguard Total Bond Market Index Fund, Admiral Shares		218,855		2,074,741
				24,182,232
TOTAL MUTUAL FUNDS (Cost $122,958,364)				123,338,309
TOTAL LONG-TERM INVESTMENTS (Cost $122,958,364)				123,338,309
TOTAL INVESTMENTS — 100.1% (Cost $122,958,364) (b)				123,338,309
Other Assets/(Liabilities) — (0.1)%				(95,261)
NET ASSETS — 100.0%			$	123,243,048

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 RetireSMART^sm by JPMorgan In Retirement Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.2%
Equity Funds — 39.8%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		47,219	$	761,173
JPMorgan Large Cap Value Fund, Class R6		50,241		992,771
MassMutual Blue Chip Growth Fund, Class I (a)		81,013		1,906,239
MassMutual Diversified Value Fund, Class I (a)		194,010		1,845,034
MassMutual Equity Opportunities Fund, Class I (a)		126,336		2,109,810
MassMutual International Equity Fund, Class I (a)		143,713		1,120,959
MassMutual Mid Cap Growth Fund, Class I (a)		33,599		649,465
MassMutual Mid Cap Value Fund, Class I (a)		55,979		631,445
MassMutual Overseas Fund, Class I (a)		237,582		1,948,170
MassMutual Small Cap Growth Equity Fund, Class I (a)		18,671		301,171
MassMutual Small Cap Value Equity Fund, Class I (a)		47,716		392,228
MassMutual Strategic Emerging Markets Fund, Class I (a)		143,482		1,416,168
MM Equity Asset Fund, Class I (a)		861,499		6,633,541
Vanguard Developed Markets Index Fund, Admiral Shares		191,925		2,947,969
Vanguard Mid-Cap Index Fund, Admiral Shares		1,913		625,182
Vanguard Real Estate Index Fund, Admiral Shares		4,338		547,891
Vanguard Small-Cap Index Fund, Admiral Shares		3,177		365,836
				25,195,052
Fixed Income Funds — 60.4%
JPMorgan Emerging Markets Debt Fund, Class R6		186,817		1,160,134
JPMorgan U.S. Government Money Market Fund, Class IM		3,223,308		3,223,308
MassMutual Core Bond Fund, Class I (a)		2,013,019		18,076,913
MassMutual High Yield Fund, Class I (a)		549,343		4,416,714
MassMutual Inflation-Protected and Income Fund, Class I (a)		348,795		3,205,425
MassMutual Total Return Bond Fund, Class I (a)		539,408		4,433,930
Vanguard Total Bond Market Index Fund, Admiral Shares		388,398		3,682,014
				38,198,438
TOTAL MUTUAL FUNDS (Cost $63,610,445)				63,393,490
TOTAL LONG-TERM INVESTMENTS (Cost $63,610,445)				63,393,490
TOTAL INVESTMENTS — 100.2% (Cost $63,610,445) (b)				63,393,490
Other Assets/(Liabilities) — (0.2)%				(102,052)
NET ASSETS — 100.0%			$	63,291,438

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 RetireSMART^sm by JPMorgan 2020 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 40.0%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		72,750	$	1,172,731
JPMorgan Large Cap Value Fund, Class R6		79,329		1,567,536
MassMutual Blue Chip Growth Fund, Class I (a)		121,064		2,848,646
MassMutual Diversified Value Fund, Class I (a)		298,111		2,835,032
MassMutual Equity Opportunities Fund, Class I (a)		194,911		3,255,008
MassMutual International Equity Fund, Class I (a)		230,686		1,799,349
MassMutual Mid Cap Growth Fund, Class I (a)		53,087		1,026,164
MassMutual Mid Cap Value Fund, Class I (a)		91,508		1,032,212
MassMutual Overseas Fund, Class I (a)		319,357		2,618,729
MassMutual Small Cap Growth Equity Fund, Class I (a)		30,695		495,118
MassMutual Small Cap Value Equity Fund, Class I (a)		78,532		645,536
MassMutual Strategic Emerging Markets Fund, Class I (a)		227,545		2,245,872
MM Equity Asset Fund, Class I (a)		1,298,526		9,998,652
Vanguard Developed Markets Index Fund, Institutional Shares		300,696		4,624,707
Vanguard Mid-Cap Index Fund, Admiral Shares		3,072		1,004,117
Vanguard Real Estate Index Fund, Admiral Shares		6,804		859,396
Vanguard Small-Cap Index Fund, Admiral Shares		4,997		575,421
				38,604,226
Fixed Income Funds — 60.1%
JPMorgan Emerging Markets Debt Fund, Class R6		306,173		1,901,336
JPMorgan U.S. Government Money Market Fund, Class IM		5,297,558		5,297,558
MassMutual Core Bond Fund, Class I (a)		2,926,295		26,278,130
MassMutual High Yield Fund, Class I (a)		866,326		6,965,262
MassMutual Inflation-Protected and Income Fund, Class I (a)		561,123		5,156,725
MassMutual Total Return Bond Fund, Class I (a)		798,502		6,563,687
Vanguard Total Bond Market Index Fund, Institutional Shares		609,272		5,775,894
				57,938,592
TOTAL MUTUAL FUNDS (Cost $96,722,756)				96,542,818
TOTAL LONG-TERM INVESTMENTS (Cost $96,722,756)				96,542,818
TOTAL INVESTMENTS — 100.1% (Cost $96,722,756) (b)				96,542,818
Other Assets/(Liabilities) — (0.1)%				(122,882)
NET ASSETS — 100.0%			$	96,419,936

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 RetireSMART^sm by JPMorgan 2025 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 45.2%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		83,710	$	1,349,410
JPMorgan Large Cap Value Fund, Class R6		98,174		1,939,922
MassMutual Blue Chip Growth Fund, Class I (a)		150,746		3,547,043
MassMutual Diversified Value Fund, Class I (a)		364,658		3,467,897
MassMutual Equity Opportunities Fund, Class I (a)		237,674		3,969,150
MassMutual International Equity Fund, Class I (a)		256,558		2,001,155
MassMutual Mid Cap Growth Fund, Class I (a)		63,904		1,235,264
MassMutual Mid Cap Value Fund, Class I (a)		106,190		1,197,824
MassMutual Overseas Fund, Class I (a)		394,935		3,238,469
MassMutual Small Cap Growth Equity Fund, Class I (a)		35,711		576,011
MassMutual Small Cap Value Equity Fund, Class I (a)		90,207		741,499
MassMutual Strategic Emerging Markets Fund, Class I (a)		258,887		2,555,215
MM Equity Asset Fund, Class I (a)		1,607,000		12,373,901
Vanguard Developed Markets Index Fund, Institutional Shares		404,231		6,217,070
Vanguard Mid-Cap Index Fund, Admiral Shares		4,253		1,390,327
Vanguard Real Estate Index Fund, Admiral Shares		9,152		1,156,030
Vanguard Small-Cap Index Fund, Admiral Shares		6,661		767,069
				47,723,256
Fixed Income Funds — 54.9%
JPMorgan Emerging Markets Debt Fund, Class R6		287,556		1,785,723
JPMorgan U.S. Government Money Market Fund, Class IM		3,282,276		3,282,276
MassMutual Core Bond Fund, Class I (a)		3,143,016		28,224,282
MassMutual High Yield Fund, Class I (a)		838,174		6,738,917
MassMutual Inflation-Protected and Income Fund, Class I (a)		476,003		4,374,471
MassMutual Total Return Bond Fund, Class I (a)		845,871		6,953,056
Vanguard Total Bond Market Index Fund, Institutional Shares		699,494		6,631,202
				57,989,927
TOTAL MUTUAL FUNDS (Cost $105,574,888)				105,713,183
TOTAL LONG-TERM INVESTMENTS (Cost $105,574,888)				105,713,183
TOTAL INVESTMENTS — 100.1% (Cost $105,574,888) (b)				105,713,183
Other Assets/(Liabilities) — (0.1)%				(96,386)
NET ASSETS — 100.0%			$	105,616,797

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 RetireSMART^sm by JPMorgan 2030 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 58.1%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		258,594	$	4,168,538
JPMorgan Large Cap Value Fund, Class R6		285,794		5,647,289
MassMutual Blue Chip Growth Fund, Class I (a)		438,310		10,313,444
MassMutual Diversified Value Fund, Class I (a)		1,064,423		10,122,659
MassMutual Equity Opportunities Fund, Class I (a)		705,656		11,784,454
MassMutual International Equity Fund, Class I (a)		790,877		6,168,841
MassMutual Mid Cap Growth Fund, Class I (a)		185,703		3,589,647
MassMutual Mid Cap Value Fund, Class I (a)		312,966		3,530,258
MassMutual Overseas Fund, Class I (a)		1,247,801		10,231,970
MassMutual Small Cap Growth Equity Fund, Class I (a)		103,192		1,664,481
MassMutual Small Cap Value Equity Fund, Class I (a)		262,580		2,158,410
MassMutual Strategic Emerging Markets Fund, Class I (a)		798,862		7,884,766
MM Equity Asset Fund, Class I (a)		4,709,621		36,264,084
Vanguard Developed Markets Index Fund, Institutional Shares		1,054,845		16,223,511
Vanguard Mid-Cap Index Fund, Admiral Shares		10,565		3,453,480
Vanguard Real Estate Index Fund, Admiral Shares		23,589		2,979,533
Vanguard Small-Cap Index Fund, Admiral Shares		16,708		1,924,143
				138,109,508
Fixed Income Funds — 42.0%
JPMorgan Emerging Markets Debt Fund, Class R6		505,770		3,140,833
MassMutual Core Bond Fund, Class I (a)		6,255,771		56,176,823
MassMutual High Yield Fund, Class I (a)		1,452,510		11,678,179
MassMutual Inflation-Protected and Income Fund, Class I (a)		404,112		3,713,792
MassMutual Total Return Bond Fund, Class I (a)		1,670,234		13,729,325
Vanguard Total Bond Market Index Fund, Institutional Shares		1,215,940		11,527,113
				99,966,065
TOTAL MUTUAL FUNDS (Cost $236,550,373)				238,075,573
TOTAL LONG-TERM INVESTMENTS (Cost $236,550,373)				238,075,573
TOTAL INVESTMENTS — 100.1% (Cost $236,550,373) (b)				238,075,573
Other Assets/(Liabilities) — (0.1)%				(215,766)
NET ASSETS — 100.0%			$	237,859,807

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 RetireSMART^sm by JPMorgan 2035 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 70.4%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		336,786	$	5,428,991
JPMorgan Large Cap Value Fund, Class R6		187,254		3,700,137
MassMutual Blue Chip Growth Fund, Class I (a)		484,456		11,399,241
MassMutual Diversified Value Fund, Class I (a)		700,775		6,664,366
MassMutual Equity Opportunities Fund, Class I (a)		303,252		5,064,313
MassMutual International Equity Fund, Class I (a)		686,393		5,353,865
MassMutual Mid Cap Growth Fund, Class I (a)		126,251		2,440,427
MassMutual Mid Cap Value Fund, Class I (a)		209,600		2,364,293
MassMutual Overseas Fund, Class I (a)		1,067,885		8,756,658
MassMutual Small Cap Growth Equity Fund, Class I (a)		68,926		1,111,776
MassMutual Small Cap Value Equity Fund, Class I (a)		173,648		1,427,383
MassMutual Strategic Emerging Markets Fund, Class I (a)		287,809		2,840,677
MM Equity Asset Fund, Class I (a)		3,374,530		25,983,884
Vanguard Developed Markets Index Fund, Institutional Shares		601,881		9,256,927
Vanguard Mid-Cap Index Fund, Admiral Shares		7,961		2,602,276
Vanguard Real Estate Index Fund, Admiral Shares		18,956		2,394,361
Vanguard Small-Cap Index Fund, Admiral Shares		12,258		1,411,590
				98,201,165
Fixed Income Funds — 29.7%
JPMorgan Emerging Markets Debt Fund, Class R6		198,112		1,230,277
MassMutual Core Bond Fund, Class I (a)		2,305,068		20,699,509
MassMutual High Yield Fund, Class I (a)		576,761		4,637,161
MassMutual Total Return Bond Fund, Class I (a)		1,571,218		12,915,412
Vanguard Total Bond Market Index Fund, Admiral Shares		209,114		1,982,404
				41,464,763
TOTAL MUTUAL FUNDS (Cost $138,102,012)				139,665,928
TOTAL LONG-TERM INVESTMENTS (Cost $138,102,012)				139,665,928
TOTAL INVESTMENTS — 100.1% (Cost $138,102,012) (b)				139,665,928
Other Assets/(Liabilities) — (0.1)%				(133,885)
NET ASSETS — 100.0%			$	139,532,043

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 RetireSMART^sm by JPMorgan 2040 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 80.1%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		533,269	$	8,596,302
JPMorgan Large Cap Value Fund, Class R6		291,422		5,758,508
MassMutual Blue Chip Growth Fund, Class I (a)		740,778		17,430,506
MassMutual Diversified Value Fund, Class I (a)		1,066,693		10,144,249
MassMutual Equity Opportunities Fund, Class I (a)		481,189		8,035,854
MassMutual International Equity Fund, Class I (a)		1,089,460		8,497,792
MassMutual Mid Cap Growth Fund, Class I (a)		198,067		3,828,634
MassMutual Mid Cap Value Fund, Class I (a)		330,257		3,725,301
MassMutual Overseas Fund, Class I (a)		1,677,653		13,756,756
MassMutual Small Cap Growth Equity Fund, Class I (a)		108,173		1,744,831
MassMutual Small Cap Value Equity Fund, Class I (a)		275,729		2,266,489
MassMutual Strategic Emerging Markets Fund, Class I (a)		444,412		4,386,348
MM Equity Asset Fund, Class I (a)		5,208,218		40,103,279
Vanguard Developed Markets Index Fund, Institutional Shares		866,232		13,322,646
Vanguard Mid-Cap Index Fund, Admiral Shares		11,417		3,731,942
Vanguard Real Estate Index Fund, Admiral Shares		26,188		3,307,794
Vanguard Small-Cap Index Fund, Admiral Shares		17,624		2,029,624
				150,666,855
Fixed Income Funds — 20.0%
JPMorgan Emerging Markets Debt Fund, Class R6		183,429		1,139,092
MassMutual Core Bond Fund, Class I (a)		2,092,661		18,792,094
MassMutual High Yield Fund, Class I (a)		531,143		4,270,390
MassMutual Total Return Bond Fund, Class I (a)		1,414,958		11,630,953
Vanguard Total Bond Market Index Fund, Admiral Shares		176,809		1,676,146
				37,508,675
TOTAL MUTUAL FUNDS (Cost $183,448,237)				188,175,530
TOTAL LONG-TERM INVESTMENTS (Cost $183,448,237)				188,175,530
TOTAL INVESTMENTS — 100.1% (Cost $183,448,237) (b)				188,175,530
Other Assets/(Liabilities) — (0.1)%				(156,312)
NET ASSETS — 100.0%			$	188,019,218

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 RetireSMART^sm by JPMorgan 2045 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 88.1%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		339,473	$	5,472,300
JPMorgan Large Cap Value Fund, Class R6		187,032		3,695,751
MassMutual Blue Chip Growth Fund, Class I (a)		492,837		11,596,459
MassMutual Diversified Value Fund, Class I (a)		708,366		6,736,565
MassMutual Equity Opportunities Fund, Class I (a)		303,342		5,065,820
MassMutual International Equity Fund, Class I (a)		689,146		5,375,335
MassMutual Mid Cap Growth Fund, Class I (a)		127,357		2,461,803
MassMutual Mid Cap Value Fund, Class I (a)		211,503		2,385,748
MassMutual Overseas Fund, Class I (a)		1,176,926		9,650,794
MassMutual Small Cap Growth Equity Fund, Class I (a)		69,588		1,122,447
MassMutual Small Cap Value Equity Fund, Class I (a)		175,182		1,439,998
MassMutual Strategic Emerging Markets Fund, Class I (a)		292,136		2,883,379
MM Equity Asset Fund, Class I (a)		3,474,689		26,755,103
Vanguard Developed Markets Index Fund, Institutional Shares		595,637		9,160,897
Vanguard Mid-Cap Index Fund, Admiral Shares		7,788		2,545,551
Vanguard Real Estate Index Fund, Admiral Shares		17,954		2,267,807
Vanguard Small-Cap Index Fund, Admiral Shares		11,953		1,376,475
				99,992,232
Fixed Income Funds — 12.0%
JPMorgan Emerging Markets Debt Fund, Class R6		66,475		412,807
MassMutual Core Bond Fund, Class I (a)		739,532		6,640,997
MassMutual High Yield Fund, Class I (a)		190,677		1,533,042
MassMutual Total Return Bond Fund, Class I (a)		526,269		4,325,928
Vanguard Total Bond Market Index Fund, Admiral Shares		68,435		648,760
				13,561,534
TOTAL MUTUAL FUNDS (Cost $110,895,503)				113,553,766
TOTAL LONG-TERM INVESTMENTS (Cost $110,895,503)				113,553,766
TOTAL INVESTMENTS — 100.1% (Cost $110,895,503) (b)				113,553,766
Other Assets/(Liabilities) — (0.1)%				(109,761)
NET ASSETS — 100.0%			$	113,444,005

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 RetireSMART^sm by JPMorgan 2050 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 92.3%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		453,641	$	7,312,696
JPMorgan Large Cap Value Fund, Class R6		249,608		4,932,256
MassMutual Blue Chip Growth Fund, Class I (a)		653,460		15,375,925
MassMutual Diversified Value Fund, Class I (a)		936,313		8,904,339
MassMutual Equity Opportunities Fund, Class I (a)		404,052		6,747,663
MassMutual International Equity Fund, Class I (a)		920,487		7,179,798
MassMutual Mid Cap Growth Fund, Class I (a)		167,927		3,246,024
MassMutual Mid Cap Value Fund, Class I (a)		280,369		3,162,566
MassMutual Overseas Fund, Class I (a)		1,545,724		12,674,935
MassMutual Small Cap Growth Equity Fund, Class I (a)		91,791		1,480,594
MassMutual Small Cap Value Equity Fund, Class I (a)		230,956		1,898,455
MassMutual Strategic Emerging Markets Fund, Class I (a)		385,227		3,802,194
MM Equity Asset Fund, Class I (a)		4,633,382		35,677,041
Vanguard Developed Markets Index Fund, Institutional Shares		765,382		11,771,569
Vanguard Mid-Cap Index Fund, Admiral Shares		9,802		3,203,958
Vanguard Real Estate Index Fund, Admiral Shares		23,087		2,916,073
Vanguard Small-Cap Index Fund, Admiral Shares		15,045		1,732,535
				132,018,621
Fixed Income Funds — 7.8%
JPMorgan Emerging Markets Debt Fund, Class R6		57,369		356,263
MassMutual Core Bond Fund, Class I (a)		609,478		5,473,112
MassMutual High Yield Fund, Class I (a)		161,471		1,298,230
MassMutual Total Return Bond Fund, Class I (a)		433,932		3,566,925
Vanguard Total Bond Market Index Fund, Admiral Shares		54,768		519,203
				11,213,733
TOTAL MUTUAL FUNDS (Cost $138,809,386)				143,232,354
TOTAL LONG-TERM INVESTMENTS (Cost $138,809,386)				143,232,354
TOTAL INVESTMENTS — 100.1% (Cost $138,809,386) (b)				143,232,354
Other Assets/(Liabilities) — (0.1)%				(109,318)
NET ASSETS — 100.0%			$	143,123,036

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 RetireSMART^sm by JPMorgan 2055 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 92.3%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		205,071	$	3,305,751
JPMorgan Large Cap Value Fund, Class R6		112,380		2,220,624
MassMutual Blue Chip Growth Fund, Class I (a)		296,971		6,987,730
MassMutual Diversified Value Fund, Class I (a)		431,723		4,105,682
MassMutual Equity Opportunities Fund, Class I (a)		182,742		3,051,783
MassMutual International Equity Fund, Class I (a)		412,325		3,216,133
MassMutual Mid Cap Growth Fund, Class I (a)		75,844		1,466,072
MassMutual Mid Cap Value Fund, Class I (a)		125,759		1,418,560
MassMutual Overseas Fund, Class I (a)		716,987		5,879,290
MassMutual Small Cap Growth Equity Fund, Class I (a)		41,286		665,946
MassMutual Small Cap Value Equity Fund, Class I (a)		104,020		855,040
MassMutual Strategic Emerging Markets Fund, Class I (a)		177,673		1,753,631
MM Equity Asset Fund, Class I (a)		2,093,260		16,118,104
Vanguard Developed Markets Index Fund, Institutional Shares		351,320		5,403,302
Vanguard Mid-Cap Index Fund, Admiral Shares		4,586		1,499,030
Vanguard Real Estate Index Fund, Admiral Shares		10,257		1,295,539
Vanguard Small-Cap Index Fund, Admiral Shares		7,039		810,605
				60,052,822
Fixed Income Funds — 7.8%
JPMorgan Emerging Markets Debt Fund, Class R6		25,980		161,334
MassMutual Core Bond Fund, Class I (a)		278,285		2,498,998
MassMutual High Yield Fund, Class I (a)		72,891		586,044
MassMutual Total Return Bond Fund, Class I (a)		197,794		1,625,866
Vanguard Total Bond Market Index Fund, Admiral Shares		25,143		238,351
				5,110,593
TOTAL MUTUAL FUNDS (Cost $63,472,276)				65,163,415
TOTAL LONG-TERM INVESTMENTS (Cost $63,472,276)				65,163,415
TOTAL INVESTMENTS — 100.1% (Cost $63,472,276) (b)				65,163,415
Other Assets/(Liabilities) — (0.1)%				(67,243)
NET ASSETS — 100.0%			$	65,096,172

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 RetireSMART^sm by JPMorgan 2060 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 92.2%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		82,100	$	1,323,453
JPMorgan Large Cap Value Fund, Class R6		43,912		867,702
MassMutual Blue Chip Growth Fund, Class I (a)		117,909		2,774,390
MassMutual Diversified Value Fund, Class I (a)		170,456		1,621,040
MassMutual Equity Opportunities Fund, Class I (a)		71,083		1,187,083
MassMutual International Equity Fund, Class I (a)		162,371		1,266,494
MassMutual Mid Cap Growth Fund, Class I (a)		30,032		580,520
MassMutual Mid Cap Value Fund, Class I (a)		49,765		561,350
MassMutual Overseas Fund, Class I (a)		280,380		2,299,116
MassMutual Small Cap Growth Equity Fund, Class I (a)		16,418		264,822
MassMutual Small Cap Value Equity Fund, Class I (a)		41,284		339,356
MassMutual Strategic Emerging Markets Fund, Class I (a)		70,424		695,088
MM Equity Asset Fund, Class I (a)		839,769		6,466,223
Vanguard Developed Markets Index Fund, Admiral Shares		137,685		2,114,838
Vanguard Mid-Cap Index Fund, Admiral Shares		1,735		567,075
Vanguard Real Estate Index Fund, Admiral Shares		4,269		539,202
Vanguard Small-Cap Index Fund, Admiral Shares		2,663		306,653
				23,774,405
Fixed Income Funds — 7.8%
JPMorgan Emerging Markets Debt Fund, Class R6		10,111		62,791
MassMutual Core Bond Fund, Class I (a)		110,259		990,129
MassMutual High Yield Fund, Class I (a)		28,529		229,369
MassMutual Total Return Bond Fund, Class I (a)		78,511		645,364
Vanguard Total Bond Market Index Fund, Admiral Shares		9,840		93,284
				2,020,937
TOTAL MUTUAL FUNDS (Cost $25,147,830)				25,795,342
TOTAL LONG-TERM INVESTMENTS (Cost $25,147,830)				25,795,342
TOTAL INVESTMENTS — 100.0% (Cost $25,147,830) (b)				25,795,342
Other Assets/(Liabilities) — 0.0%				8,679
NET ASSETS — 100.0%			$	25,804,021

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 RetireSMART^sm by JPMorgan 2065 Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 104.2%
Equity Funds — 96.0%
JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6		4,221	$	68,044
JPMorgan Large Cap Value Fund, Class R6		2,265		44,758
MassMutual Blue Chip Growth Fund, Class I (a)		5,859		137,859
MassMutual Diversified Value Fund, Class I (a)		8,567		81,470
MassMutual Equity Opportunities Fund, Class I (a)		3,656		61,061
MassMutual International Equity Fund, Class I (a)		8,609		67,152
MassMutual Mid Cap Growth Fund, Class I (a)		1,533		29,636
MassMutual Mid Cap Value Fund, Class I (a)		2,551		28,772
MassMutual Overseas Fund, Class I (a)		13,503		110,723
MassMutual Small Cap Growth Equity Fund, Class I (a)		858		13,836
MassMutual Small Cap Value Equity Fund, Class I (a)		2,198		18,067
MassMutual Strategic Emerging Markets Fund, Class I (a)		3,603		35,558
MM Equity Asset Fund, Class I (a)		42,086		324,059
Vanguard Developed Markets Index Fund, Admiral Shares		6,230		95,693
Vanguard Mid-Cap Index Fund, Admiral Shares		77		25,271
Vanguard Real Estate Index Fund, Admiral Shares		181		22,906
Vanguard Small-Cap Index Fund, Admiral Shares		117		13,431
				1,178,296
Fixed Income Funds — 8.2%
JPMorgan Emerging Markets Debt Fund, Class R6		517		3,211
MassMutual Core Bond Fund, Class I (a)		5,500		49,391
MassMutual High Yield Fund, Class I (a)		1,461		11,750
MassMutual Total Return Bond Fund, Class I (a)		3,889		31,965
Vanguard Total Bond Market Index Fund, Admiral Shares		445		4,215
				100,532
TOTAL MUTUAL FUNDS (Cost $1,284,065)				1,278,828
TOTAL LONG-TERM INVESTMENTS (Cost $1,284,065)				1,278,828
TOTAL INVESTMENTS — 104.2% (Cost $1,284,065) (b)				1,278,828
Other Assets/(Liabilities) — (4.2)%				(52,114)
NET ASSETS — 100.0%			$	1,226,714

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.0%
COMMON STOCK — 99.0%
Communication Services — 8.5%
Alphabet, Inc. Class A		34,598	$	6,549,402
Alphabet, Inc. Class C		22,360		4,258,239
AT&T, Inc.		45,725		1,041,158
Charter Communications, Inc. Class A (a)		1,816		622,470
Comcast Corp. Class A		47,363		1,777,533
Meta Platforms, Inc. Class A		14,816		8,674,916
Sirius XM Holdings, Inc.		7,386		168,401
Walt Disney Co.		11,438		1,273,621
Warner Music Group Corp. Class A		9,202		285,262
				24,651,002
Consumer Discretionary — 13.2%
Amazon.com, Inc. (a)		61,102		13,405,168
Aptiv PLC (a)		5,189		313,831
AutoZone, Inc. (a)		613		1,962,826
Best Buy Co., Inc.		6,322		542,428
Booking Holdings, Inc.		289		1,435,873
Burlington Stores, Inc. (a)		2,822		804,439
Carnival Corp. (a)		16,958		422,593
Chipotle Mexican Grill, Inc. (a)		24,305		1,465,592
DoorDash, Inc., Class A (a)		1,952		327,448
Expedia Group, Inc. (a)		4,625		861,776
Hilton Worldwide Holdings, Inc.		5,355		1,323,542
Lennar Corp. Class A		2,879		392,609
LKQ Corp.		1,604		58,947
Lowe's Cos., Inc.		11,534		2,846,591
McDonald's Corp.		9,255		2,682,932
Ross Stores, Inc.		10,382		1,570,485
Royal Caribbean Cruises Ltd.		2,564		591,489
Tesla, Inc. (a)		14,806		5,979,255
Yum! Brands, Inc.		10,673		1,431,890
				38,419,714
Consumer Staples — 4.0%
Altria Group, Inc.		10,137		530,064
Church & Dwight Co., Inc.		8,505		890,559
Coca-Cola Co.		29,282		1,823,097
Costco Wholesale Corp.		1,670		1,530,171
Estee Lauder Cos., Inc. Class A		2,328		174,554
Kenvue, Inc.		31,757		678,012
Keurig Dr. Pepper, Inc.		18,394		590,815
Mondelez International, Inc. Class A		32,770		1,957,352
PepsiCo, Inc.		17,805		2,707,428

MM Equity Asset Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Philip Morris International, Inc.		7,221	$	869,047
				11,751,099
Energy — 3.2%
Baker Hughes Co.		18,100		742,462
ConocoPhillips		21,085		2,090,999
Diamondback Energy, Inc.		4,914		805,061
EOG Resources, Inc.		10,212		1,251,787
Exxon Mobil Corp.		39,813		4,282,684
				9,172,993
Financials — 13.9%
American Express Co.		2,709		804,004
Ameriprise Financial, Inc.		1,939		1,032,382
Aon PLC Class A		4,120		1,479,739
Arthur J Gallagher & Co.		4,413		1,252,630
Bank of America Corp.		77,151		3,390,786
Berkshire Hathaway, Inc. Class B (a)		9,564		4,335,170
Block, Inc. (a)		5,100		433,449
Charles Schwab Corp.		15,330		1,134,573
Citigroup, Inc.		12,923		909,650
CME Group, Inc.		7,350		1,706,890
Corpay, Inc. (a)		3,687		1,247,754
Fidelity National Information Services, Inc.		17,240		1,392,475
Fifth Third Bancorp		29,406		1,243,286
Goldman Sachs Group, Inc.		3,683		2,108,959
KKR & Co., Inc.		4,158		615,010
Mastercard, Inc. Class A		9,625		5,068,236
MetLife, Inc.		3,850		315,238
Principal Financial Group, Inc.		4,382		339,211
Progressive Corp.		8,229		1,971,751
Truist Financial Corp.		35,115		1,523,289
US Bancorp		19,195		918,097
Visa, Inc. Class A		14,364		4,539,599
Wells Fargo & Co.		38,733		2,720,606
WEX, Inc. (a)		816		143,061
				40,625,845
Health Care — 10.0%
Abbott Laboratories		4,740		536,141
AbbVie, Inc.		19,551		3,474,213
Baxter International, Inc.		5,181		151,078
Biogen, Inc. (a)		2,101		321,285
Boston Scientific Corp. (a)		17,144		1,531,302
Bristol-Myers Squibb Co.		34,306		1,940,347
Cigna Group		3,111		859,072
Danaher Corp.		3,607		827,987
Edwards Lifesciences Corp. (a)		2,996		221,794
Eli Lilly & Co.		4,107		3,170,604
HCA Healthcare, Inc.		943		283,041
Humana, Inc.		1,696		430,292
Johnson & Johnson		9,790		1,415,830
McKesson Corp.		767		437,121
Medtronic PLC		15,953		1,274,326
Merck & Co., Inc.		7,163		712,575
Neurocrine Biosciences, Inc. (a)		1,789		244,199

MM Equity Asset Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Regeneron Pharmaceuticals, Inc. (a)		2,007	$	1,429,646
Sarepta Therapeutics, Inc. (a)		870		105,783
Stryker Corp.		5,643		2,031,762
Thermo Fisher Scientific, Inc.		4,937		2,568,376
Town Health International Medical Group Ltd.		62,000		1,956
UnitedHealth Group, Inc.		7,862		3,977,071
Vertex Pharmaceuticals, Inc. (a)		3,213		1,293,875
				29,239,676
Industrials — 8.5%
AMETEK, Inc.		1,009		181,882
Carrier Global Corp.		17,796		1,214,755
Caterpillar, Inc.		2,749		997,227
CSX Corp.		33,770		1,089,758
Deere & Co.		4,582		1,941,393
Delta Air Lines, Inc.		10,239		619,459
Eaton Corp. PLC		3,065		1,017,182
FedEx Corp.		3,287		924,732
Honeywell International, Inc.		9,557		2,158,831
Howmet Aerospace, Inc.		15,893		1,738,217
Ingersoll Rand, Inc.		6,409		579,758
Leidos Holdings, Inc.		7,048		1,015,335
Masco Corp.		9,994		725,265
Northrop Grumman Corp.		1,024		480,553
Otis Worldwide Corp.		14,553		1,347,753
PACCAR, Inc.		4,591		477,556
Textron, Inc.		9,937		760,081
Trane Technologies PLC		6,820		2,518,967
TransDigm Group, Inc.		1,192		1,510,598
Uber Technologies, Inc. (a)		22,625		1,364,740
Union Pacific Corp.		2,113		481,849
United Parcel Service, Inc. Class B		11,770		1,484,197
United Rentals, Inc.		384		270,505
				24,900,593
Information Technology — 31.6%
Accenture PLC Class A		1,671		587,841
Adobe, Inc. (a)		895		397,989
Advanced Micro Devices, Inc. (a)		9,510		1,148,713
Analog Devices, Inc.		10,024		2,129,699
Apple, Inc.		84,507		21,162,243
Arista Networks, Inc. (a)		5,919		654,227
Broadcom, Inc.		21,842		5,063,849
Cadence Design Systems, Inc. (a)		1,604		481,938
Cognizant Technology Solutions Corp. Class A		17,749		1,364,898
Fair Isaac Corp. (a)		146		290,676
Hewlett Packard Enterprise Co.		24,686		527,046
Intuit, Inc.		1,956		1,229,346
Lam Research Corp.		14,394		1,039,679
Marvell Technology, Inc.		1,985		219,243
Micron Technology, Inc.		15,212		1,280,242
Microsoft Corp.		48,697		20,525,785
Motorola Solutions, Inc.		986		455,759
NVIDIA Corp.		153,825		20,657,159
NXP Semiconductors NV		9,293		1,931,550
Oracle Corp.		8,725		1,453,934
Salesforce, Inc.		8,914		2,980,218

MM Equity Asset Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Seagate Technology Holdings PLC		13,007	$	1,122,634
ServiceNow, Inc. (a)		2,293		2,430,855
TE Connectivity PLC		1,810		258,776
Texas Instruments, Inc.		11,582		2,171,741
Western Digital Corp. (a)		8,431		502,740
				92,068,780
Materials — 1.8%
Dow, Inc.		22,586		906,376
Linde PLC (LIN US)		5,284		2,212,253
LyondellBasell Industries NV Class A		7,930		588,961
Martin Marietta Materials, Inc.		904		466,916
Nucor Corp.		2,129		248,476
PPG Industries, Inc.		5,205		621,737
Sherwin-Williams Co.		783		266,165
				5,310,884
Real Estate — 2.0%
Alexandria Real Estate Equities, Inc.		1,453		141,740
Digital Realty Trust, Inc.		6,300		1,117,179
Equinix, Inc.		211		198,950
Equity LifeStyle Properties, Inc.		7,700		512,820
Prologis, Inc.		10,481		1,107,842
SBA Communications Corp.		4,084		832,319
Ventas, Inc.		19,295		1,136,283
Welltower, Inc.		5,803		731,352
				5,778,485
Utilities — 2.3%
Dominion Energy, Inc.		5,323		286,697
NextEra Energy, Inc.		32,140		2,304,117
NRG Energy, Inc.		1,252		112,955
PG&E Corp.		69,982		1,412,237
Southern Co.		28,198		2,321,259
Vistra Corp.		2,000		275,740
				6,713,005
TOTAL COMMON STOCK (Cost $200,796,208)				288,632,076
TOTAL EQUITIES (Cost $200,796,208)				288,632,076
RIGHTS — 0.0%
Health Care — 0.0%
Tobira Therapeutics, Inc., CVR (a) (b) (c)		505		—
TOTAL RIGHTS (Cost $30)				—
TOTAL LONG-TERM INVESTMENTS (Cost $200,796,238)				288,632,076

MM Equity Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 1.2%
Repurchase Agreement — 1.2%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (d)	$	3,589,624	$	3,589,624
TOTAL SHORT-TERM INVESTMENTS (Cost $3,589,624)				3,589,624
TOTAL INVESTMENTS — 100.2% (Cost $204,385,862) (e)				292,221,700
Other Assets/(Liabilities) — (0.2)%				(643,145)
NET ASSETS — 100.0%			$	291,578,555

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) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $0 or 0.00% of net assets.

(c) Investment is valued using significant unobservable inputs.

(d) Maturity value of $3,590,172. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $3,661,606.

(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	3/21/25		13	$	3,960,916	$	(102,678)

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 95.3%
BANK LOANS — 1.6%
Advertising — 0.1%
Lamar Media Corp., 2020 Term Loan B, 1 mo. USD Term SOFR + 1.500%
5.957% VRN 2/05/27	$	305,000	$	303,728
Aerospace & Defense — 0.0%
TransDigm, Inc., 2024 Term Loan K, 3 mo. USD Term SOFR + 2.750%
7.079% VRN 3/22/30		117,114		117,433
Airlines — 0.0%
American Airlines, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.750%
9.629% VRN 4/20/28		96,833		99,287
Building Materials — 0.1%
Summit Materials LLC, 2023 Incremental Term Loan B, 1 mo. USD Term SOFR + 1.750%
6.147% VRN 1/12/29		218,512		218,551
Commercial Services — 0.1%
Belron Finance 2019 LLC, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 2.750%
7.273% VRN 10/16/31		50,000		50,406
Boost Newco Borrower LLC, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 2.500%
6.829% VRN 1/31/31		189,525		190,276
				240,682
Computers — 0.0%
Sandisk Corp, Term Loan B,
0.000% 12/13/31 (a)		170,000		166,813
Diversified Financial Services — 0.1%
Citadel Securities LP, 2024 First Lien Term Loan, 3 mo. USD Term SOFR + 2.000%
6.329% VRN 10/31/31		419,903		420,856
Electric — 0.2%
NRG Energy, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 1.750%
6.355% VRN 4/16/31		891,105		891,034
Talen Energy Supply LLC, 2024 Incremental Term Loan B, 3 mo. USD Term SOFR + 2.500%
6.849% VRN 12/11/31		50,000		50,125
				941,159

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Entertainment — 0.0%
Delta 2 (LUX) SARL
2024 Term Loan B2,
0.000% 9/10/31 (a)	$	51,667	$	51,744
2024 Term Loan B1, 3 mo. USD Term SOFR + 2.000%
6.329% VRN 9/30/31		103,333		103,488
UFC Holdings LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 2.250%
6.770% VRN 11/21/31		55,000		55,238
				210,470
Environmental Controls — 0.1%
Filtration Group Corp., 2021 Incremental Term Loan, 1 mo. USD Term SOFR + 3.500%
7.971% VRN 10/21/28		388,328		390,949
Health Care - Products — 0.0%
Medline Borrower LP, 2024 USD Add-on Term Loan B, 1 mo. USD Term SOFR + 2.250%
6.607% VRN 10/23/28		193,102		193,621
Health Care - Services — 0.2%
ICON Luxembourg SARL, 2024 LUX Term Loan B, 3 mo. USD Term SOFR + 2.000%
6.329% VRN 7/03/28		8,910		8,966
IQVIA, Inc., 2023 USD Term Loan B4, 3 mo. USD Term SOFR + 2.000%
6.329% VRN 1/02/31		1,133,550		1,140,351
PRA Health Sciences, Inc., 2024 US Term Loan B, 3 mo. USD Term SOFR + 2.000%
6.329% VRN 7/03/28		2,220		2,234
				1,151,551
Insurance — 0.3%
Alliant Holdings Intermediate LLC, 2024 Term Loan B6, 1 mo. USD Term SOFR + 2.750%
7.106% VRN 9/19/31		184,538		184,825
Assured Partners, Inc., 2024 Incremental Term Loan B5, 1 mo. USD Term SOFR + 3.500%
7.857% VRN 2/14/31		263,875		264,221
Asurion LLC
2023 Term Loan B11, 1 mo. USD Term SOFR + 4.250%
8.707% VRN 8/19/28		147,776		147,776
2021 2nd Lien Term Loan B3, 1 mo. USD Term SOFR + 5.250%
9.721% VRN 1/31/28		15,338		14,944
2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.250%
9.721% VRN 1/20/29		150,000		144,421
HUB International Ltd., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.750%
7.367% VRN 6/20/30		403,966		405,986
Truist Insurance Holdings LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 2.750%
7.079% VRN 5/06/31		179,274		179,554
				1,341,727
Lodging — 0.1%
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, 1 mo. USD Term SOFR + 1.750%
6.088% VRN 11/08/30		440,000		441,927

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Machinery - Construction & Mining — 0.0%
WEC US Holdings Ltd., 2024 Term Loan, 1 mo. USD Term SOFR + 2.250%
6.803% VRN 1/27/31	$	134,807	$	134,779
Packaging & Containers — 0.0%
Charter NEX US, Inc., 2024 Term Loan B1, 1 mo. USD Term SOFR + 3.000%
7.525% VRN 11/29/30		202,629		203,527
Pipelines — 0.0%
Epic Crude Services LP, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.000%
7.656% VRN 10/15/31		110,000		110,865
Software — 0.3%
Applied Systems, Inc.
2024 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.000%
7.329% VRN 2/24/31		476,217		480,494
2024 2nd Lien Term Loan, 3 mo. USD Term SOFR + 5.250%
9.579% VRN 2/23/32		5,000		5,138
Ascend Learning LLC, 2021 Term Loan, 1 mo. USD Term SOFR + 3.500%
7.957% VRN 12/11/28		95,889		96,310
Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.250%
7.607% VRN 2/15/29		95,379		95,481
Epicor Software Corp., 2024 Term Loan E, 1 mo. USD Term SOFR + 2.750%
7.107% VRN 5/30/31 (a)		260,254		261,906
Sophia LP, 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.000%
7.357% VRN 10/09/29		55,000		55,316
UKG, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.000%
7.329% VRN 2/10/31		295,413		297,286
				1,291,931
TOTAL BANK LOANS (Cost $7,958,899)				7,979,856
CORPORATE DEBT — 25.8%
Advertising — 0.0%
Interpublic Group of Cos., Inc.
4.650% 10/01/28		183,000		181,375
Aerospace & Defense — 0.5%
BAE Systems PLC
5.300% 3/26/34 (b)		305,000		304,124
Boeing Co.
2.196% 2/04/26		109,000		105,707
2.750% 2/01/26		113,000		110,236
3.250% 2/01/28		84,000		79,086
3.750% 2/01/50		227,000		154,823
5.040% 5/01/27		536,000		537,382
6.388% 5/01/31		209,000		218,514
6.528% 5/01/34		160,000		167,617
6.858% 5/01/54		544,000		578,189
TransDigm, Inc.
6.875% 12/15/30 (b)		76,000		77,131

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
7.125% 12/01/31 (b)	$	180,000	$	184,313
				2,517,122
Agriculture — 0.2%
BAT Capital Corp.
4.390% 8/15/37		275,000		237,232
4.540% 8/15/47		101,000		79,651
7.081% 8/02/53		395,000		433,351
				750,234
Apparel — 0.1%
VF Corp.
4.125% 3/07/26 EUR (c)		112,000		116,026
4.250% 3/07/29 EUR (c)		115,000		119,039
2.950% 4/23/30		390,000		333,081
				568,146
Auto Manufacturers — 0.7%
American Honda Finance Corp.
0.750% 11/25/26 GBP (c)		130,000		151,375
Daimler Truck Finance North America LLC
5.375% 1/18/34 (b)		150,000		149,366
Ford Motor Co.
9.625% 4/22/30		92,000		106,160
Ford Motor Credit Co. LLC
4.867% 8/03/27 EUR (c)		100,000		107,650
4.950% 5/28/27		265,000		262,584
5.125% 2/20/29 EUR (c)		210,000		228,948
6.798% 11/07/28		200,000		207,235
7.350% 11/04/27		200,000		209,415
General Motors Financial Co., Inc.
0.850% 2/26/26 EUR (b) (c)		150,000		152,060
5.550% 7/15/29		306,000		309,349
Hyundai Capital America
4.550% 9/26/29 (b)		245,000		237,824
4.750% 9/26/31 (b)		165,000		158,549
5.350% 3/19/29 (b)		136,000		136,717
5.400% 1/08/31 (b)		76,000		75,975
5.500% 3/30/26 (b)		115,000		115,717
6.500% 1/16/29 (b)		157,000		163,876
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC 6 mo. USD Term SOFR + 6.053%
10.502% FRN 10/15/26 (b)		110,000		110,244
Volkswagen Bank GmbH
4.375% 5/03/28 EUR (b) (c)		100,000		106,886
Volkswagen Financial Services AG
0.375% 2/12/30 EUR (b) (c)		140,000		122,961
Volkswagen Group of America Finance LLC
4.950% 8/15/29 (b)		200,000		195,156
Volkswagen Leasing GmbH
1.625% 8/15/25 EUR (b) (c)		150,000		154,151
3.875% 10/11/28 EUR (b) (c)		65,000		68,361
				3,530,559

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Auto Parts & Equipment — 0.1%
Aptiv Swiss Holdings Ltd.
4.650% 9/13/29	$	200,000	$	194,156
Autoliv, Inc.
3.625% 8/07/29 EUR (b) (c)		170,000		178,522
Clarios Global LP/Clarios US Finance Co.
6.750% 5/15/28 (b)		123,000		125,250
Dana Financing Luxembourg SARL
8.500% 7/15/31 EUR (b) (c)		100,000		113,161
				611,089
Banks — 4.8%
Banca Transilvania SA 1 yr. EURIBOR ICE Swap + 5.580%
8.875% VRN 4/27/27 EUR (b) (c)		200,000		219,020
Banco Bilbao Vizcaya Argentaria SA 5 yr. EURIBOR ICE Swap + 2.800%
5.750% VRN 9/15/33 EUR (b) (c)		100,000		110,292
Banco Comercial Portugues SA 3 mo. EURIBOR + 2.000%
1.750% VRN 4/07/28 EUR (b) (c)		100,000		100,622
Banco de Sabadell SA
1 yr. EURIBOR ICE Swap + 1.150% 0.875% VRN 6/16/28 EUR (b) (c)		200,000		197,146
1 yr. EUR Swap + 2.000% 5.000% VRN 6/07/29 EUR (b) (c)		100,000		109,974
1 yr. EUR Swap + 2.250% 5.125% VRN 11/10/28 EUR (b) (c)		100,000		109,490
Banco Santander SA
1.125% 1/17/25 EUR (b) (c)		200,000		206,997
Bank of America Corp.
3 mo. EURIBOR + 0.890% 1.662% VRN 4/25/28 EUR (b) (c)		100,000		100,723
1 day USD SOFR + 1.530% 1.898% VRN 7/23/31		605,000		508,999
1 day USD SOFR + 1.220% 2.299% VRN 7/21/32		361,000		300,948
3 mo. USD Term SOFR + 1.252% 2.496% VRN 2/13/31		1,475,000		1,296,949
1 day USD SOFR + 1.738% 5.518% VRN 10/25/35		575,000		562,189
1 day USD SOFR + 1.570% 5.819% VRN 9/15/29		1,130,000		1,157,901
Banque Federative du Credit Mutuel SA
1.250% 5/26/27 EUR (b) (c)		100,000		99,712
3.125% 9/14/27 EUR (b) (c)		100,000		104,082
5.125% 1/13/33 EUR (b) (c)		100,000		110,050
Barclays PLC
1 yr. EUR Swap + 1.260% 0.577% VRN 8/09/29 EUR (b) (c)		215,000		203,360
1 yr. EURIBOR ICE Swap + 0.850% 0.877% VRN 1/28/28 EUR (b) (c)		100,000		99,287
1 yr. U.K. Government Bond + 2.800% 6.369% VRN 1/31/31 GBP (b) (c)		125,000		162,502
BNP Paribas SA 3 mo. EURIBOR + 1.800%
2.125% VRN 1/23/27 EUR (b) (c)		200,000		205,305
BPCE SA
0.250% 1/14/31 EUR (b) (c)		200,000		173,968
CaixaBank SA
3 mo. EURIBOR + 1.000% 0.750% VRN 5/26/28 EUR (b) (c)		100,000		98,538
3.750% 9/07/29 EUR (b) (c)		200,000		215,036
1 day USD SOFR + 2.260% 6.037% VRN 6/15/35 (b)		490,000		494,012
1 day USD SOFR + 2.700% 6.208% VRN 1/18/29 (b)		500,000		512,296
5 yr. EUR Swap + 3.550% 6.250% VRN 2/23/33 EUR (b) (c)		100,000		110,964
1 day USD SOFR + 2.080% 6.684% VRN 9/13/27 (b)		420,000		431,038
Ceska sporitelna AS 3 mo. EURIBOR + 1.800%
4.570% VRN 7/03/31 EUR (b) (c)		700,000		757,341
Citigroup, Inc.
1 day USD SOFR + 1.167% 2.561% VRN 5/01/32		255,000		215,833

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.450% 9/29/27	$	119,000	$	117,388
1 day USD SOFR + 2.056% 5.827% VRN 2/13/35		1,373,000		1,366,280
Credit Agricole SA
0.875% 1/14/32 EUR (b) (c)		200,000		174,160
Danske Bank AS
1 yr. EURIBOR ICE Swap + 0.880% 0.750% VRN 6/09/29 EUR (b) (c)		100,000		96,026
1 yr. EUR Swap + 0.850% 1.375% VRN 2/17/27 EUR (b) (c)		110,000		112,072
5 yr. EUR Swap + 1.700% 1.375% VRN 2/12/30 EUR (b) (c)		100,000		103,329
1 yr. EUR Swap + 1.350% 4.500% VRN 11/09/28 EUR (b) (c)		100,000		107,930
1 yr. CMT + 1.400% 5.705% VRN 3/01/30 (b)		335,000		339,612
Fifth Third Bancorp
1 day USD SOFR + 1.486% 4.895% VRN 9/06/30		155,000		152,881
1 day USD SOFR + 1.840% 5.631% VRN 1/29/32		128,000		129,426
1 day USD SOFR + 2.340% 6.339% VRN 7/27/29		277,000		287,384
Goldman Sachs Group, Inc.
1.625% 7/27/26 EUR (b) (c)		140,000		142,639
1 day USD SOFR + 1.248% 2.383% VRN 7/21/32		433,000		360,863
1 day USD SOFR + 1.846% 3.615% VRN 3/15/28		467,000		454,126
1 yr. U.K. Government Bond + 1.950% 3.625% VRN 10/29/29 GBP (b) (c)		85,000		101,211
3 mo. USD Term SOFR + 1.772% 3.691% VRN 6/05/28		162,000		157,344
1 day USD SOFR + 1.725% 4.482% VRN 8/23/28		442,000		436,885
1 day USD SOFR + 1.135% 4.692% VRN 10/23/30		385,000		376,928
1 day USD SOFR + 1.420% 5.016% VRN 10/23/35		415,000		397,164
HSBC Holdings PLC 3 mo. EURIBOR + 1.290%
4.752% VRN 3/10/28 EUR (b) (c)		140,000		150,229
ING Groep NV
3 mo. EURIBOR + 0.700% 0.375% VRN 9/29/28 EUR (b) (c)		100,000		96,508
3 mo. EURIBOR + 0.850% 1.250% VRN 2/16/27 EUR (b) (c)		200,000		203,326
Intesa Sanpaolo SpA
1.750% 7/04/29 EUR (b) (c)		100,000		98,084
JP Morgan Chase & Co.
3 mo. EURIBOR + 0.840% 1.638% VRN 5/18/28 EUR (b) (c)		100,000		100,481
3 mo. USD Term SOFR + 1.105% 1.764% VRN 11/19/31		811,000		673,872
1 day USD SOFR + 2.040% 2.522% VRN 4/22/31		141,000		124,216
3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30		225,000		202,683
3 mo. USD Term SOFR + 2.515% 2.956% VRN 5/13/31		991,000		886,459
1 day USD SOFR + 1.040% 4.603% VRN 10/22/30		385,000		377,675
1 day USD SOFR + 1.340% 4.946% VRN 10/22/35		280,000		269,786
1 day USD SOFR + 1.190% 5.040% VRN 1/23/28		230,000		230,852
1 day USD SOFR + 1.620% 5.336% VRN 1/23/35		212,000		210,654
Kreditanstalt fuer Wiederaufbau
4.700% 6/02/37 CAD (c)		75,000		55,172
4.700% 6/02/37 CAD (c)		65,000		47,816
Landsbankinn Hf.
0.375% 5/23/25 EUR (b) (c)		265,000		271,842
M&T Bank Corp. 1 day USD SOFR + 2.260%
6.082% VRN 3/13/32		365,000		374,164
Morgan Stanley
3 mo. EURIBOR + 0.698% 0.406% VRN 10/29/27 EUR (c)		100,000		99,096
1 day USD SOFR + 0.858% 1.512% VRN 7/20/27		535,000		508,435
3 mo. EURIBOR + 1.954% 5.148% VRN 1/25/34 EUR (c)		100,000		115,558
1 day USD SOFR + 1.450% 5.173% VRN 1/16/30		357,000		357,510
Nationale-Nederlanden Bank NV
0.375% 2/26/25 EUR (b) (c)		100,000		103,134
NatWest Group PLC 5 yr. EUR Swap + 1.270%
1.043% VRN 9/14/32 EUR (b) (c)		135,000		131,377

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
OTP Bank Nyrt 3 mo. EURIBOR + 4.523%
7.350% VRN 3/04/26 EUR (b) (c)	$	140,000	$	145,741
QNB Finance Ltd.
4.875% 1/30/29 (b)		200,000		198,230
Regions Financial Corp. 1 day USD SOFR + 1.490%
5.722% VRN 6/06/30		180,000		182,490
Royal Bank of Canada
4.125% 7/05/28 EUR (b) (c)		100,000		107,955
Santander Holdings USA, Inc. 1 day USD SOFR + 2.138%
6.342% VRN 5/31/35		645,000		653,525
Santander UK Group Holdings PLC
1 yr. EUR Swap + 0.800% 0.603% VRN 9/13/29 EUR (b) (c)		275,000		258,223
1 yr. GBP SONIA Linked ICE Swap + 1.250% 2.421% VRN 1/17/29 GBP (b) (c)		100,000		115,116
Shinhan Bank Co. Ltd.
4.500% 4/12/28 (b)		330,000		325,321
Standard Chartered PLC
1 yr. CMT + 1.000% 1.456% VRN 1/14/27 (b)		295,000		284,130
5 yr. EUR Swap + 2.800% 2.500% VRN 9/09/30 EUR (b) (c)		180,000		185,293
Toronto-Dominion Bank
2.551% 8/03/27 EUR (b) (c)		100,000		102,803
UBS Group AG
1 yr. EUR Swap + 1.950% 2.875% VRN 4/02/32 EUR (b) (c)		185,000		186,556
1 day USD SOFR + 1.730% 3.091% VRN 5/14/32 (b)		550,000		478,380
1 yr. EURIBOR ICE Swap + 4.950% 7.750% VRN 3/01/29 EUR (b) (c)		100,000		117,987
US Bancorp
3 mo. EURIBOR + 1.200% 4.009% VRN 5/21/32 EUR (c)		190,000		202,426
1 day USD SOFR + 1.560% 5.384% VRN 1/23/30		157,000		158,297
1 day USD SOFR + 2.090% 5.850% VRN 10/21/33		145,000		148,193
Wells Fargo & Co. 1 day USD SOFR + 2.130%
4.611% VRN 4/25/53		430,000		359,046
				24,286,863
Beverages — 0.1%
Anheuser-Busch InBev SA
1.150% 1/22/27 EUR (b) (c)		100,000		100,673
1.650% 3/28/31 EUR (b) (c)		165,000		158,396
Carlsberg Breweries AS
0.375% 6/30/27 EUR (b) (c)		100,000		97,850
				356,919
Building Materials — 0.1%
Holcim Finance Luxembourg SA
2.250% 5/26/28 EUR (b) (c)		100,000		101,835
Owens Corning
5.700% 6/15/34		215,000		218,409
5.950% 6/15/54 (d)		220,000		217,390
				537,634
Chemicals — 0.4%
Braskem Netherlands Finance BV
4.500% 1/31/30 (b)		300,000		253,961
Celanese US Holdings LLC
6.330% STEP 7/15/29		98,000		99,999
6.379% STEP 7/15/32		330,000		335,204

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
6.800% STEP 11/15/30	$	117,000	$	121,115
MEGlobal BV
2.625% 4/28/28 (b)		200,000		180,998
2.625% 4/28/28 (b)		200,000		180,998
Sociedad Quimica y Minera de Chile SA
5.500% 9/10/34 (b)		320,000		303,162
Westlake Corp.
1.625% 7/17/29 EUR (c)		290,000		280,237
				1,755,674
Commercial Services — 0.5%
Albion Financing 1 SARL/Aggreko Holdings, Inc.
5.250% 10/15/26 EUR (b) (c)		100,000		104,505
Autostrade per l'Italia SpA
1.625% 1/25/28 EUR (b) (c)		100,000		99,141
2.000% 12/04/28 EUR (b) (c)		540,000		534,238
2.000% 1/15/30 EUR (b) (c)		625,000		603,228
Belron UK Finance PLC
5.750% 10/15/29 (b)		200,000		197,942
DP World Ltd.
5.250% 12/24/29 (b)		200,000		200,261
Holding d'Infrastructures de Transport SASU
1.475% 1/18/31 EUR (b) (c)		200,000		184,224
Loxam SAS
6.375% 5/15/28 EUR (b) (c)		100,000		107,736
Transurban Finance Co. Pty. Ltd.
1.750% 3/29/28 EUR (b) (c)		100,000		99,746
3.000% 4/08/30 EUR (b) (c)		300,000		308,638
Verisure Holding AB
3.875% 7/15/26 EUR (b) (c)		100,000		103,197
Wolters Kluwer NV
1.500% 3/22/27 EUR (b) (c)		100,000		101,078
				2,643,934
Computers — 0.0%
Booz Allen Hamilton, Inc.
5.950% 8/04/33		151,000		154,361
Distribution & Wholesale — 0.0%
Ritchie Bros Holdings, Inc.
7.750% 3/15/31 (b)		15,000		15,686
Diversified Financial Services — 0.7%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.300% 1/30/32		570,000		496,652
CA Auto Bank SpA
4.750% 1/25/27 EUR (b) (c)		100,000		106,933
Capital One Financial Corp.
1.650% 6/12/29 EUR (c)		300,000		291,556
3.750% 3/09/27		178,000		173,787
1 day USD SOFR + 2.160% 4.985% VRN 7/24/26 (d)		447,000		446,647
1 day USD SOFR + 1.905% 5.700% VRN 2/01/30		80,000		81,096
1 day USD SOFR + 2.260% 6.051% VRN 2/01/35		220,000		223,531
1 day USD SOFR + 3.070% 7.624% VRN 10/30/31		73,000		80,600
Intercontinental Exchange, Inc.
2.650% 9/15/40		110,000		76,843

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Jane Street Group/JSG Finance, Inc.
6.125% 11/01/32 (b)	$	95,000	$	94,116
7.125% 4/30/31 (b)		295,000		303,162
Jerrold Finco PLC
5.250% 1/15/27 GBP (b) (c)		100,000		123,375
Kane Bidco Ltd.
5.000% 2/15/27 EUR (b) (c)		225,000		232,950
London Stock Exchange Group PLC
1.750% 12/06/27 EUR (b) (c)		100,000		100,770
Navient Corp.
5.625% 8/01/33		70,000		60,571
9.375% 7/25/30		270,000		288,466
11.500% 3/15/31		130,000		145,382
OneMain Finance Corp.
9.000% 1/15/29		270,000		286,300
				3,612,737
Electric — 2.7%
Alpha Generation LLC
6.750% 10/15/32 (b)		110,000		108,831
American Electric Power Co., Inc.
5.200% 1/15/29		170,000		171,282
Appalachian Power Co.
5.650% 4/01/34		99,000		99,297
AusNet Services Holdings Pty. Ltd.
1.500% 2/26/27 EUR (b) (c)		100,000		100,776
Chile Electricity Lux MPC II SARL
5.580% 10/20/35 (b)		200,000		194,306
Comision Federal de Electricidad
5.700% 1/24/30 (b)		200,000		192,000
6.450% 1/24/35 (b)		590,000		557,088
Constellation Energy Generation LLC
5.750% 3/15/54		680,000		661,138
DTE Energy Co.
4.875% 6/01/28		76,000		75,734
5.100% 3/01/29		544,000		545,254
Duke Energy Corp.
3.750% 4/01/31 EUR (c)		100,000		105,276
5.000% 8/15/52		447,000		390,092
E.ON International Finance BV
6.250% 6/03/30 GBP (b) (c)		305,000		401,156
EDP SA
2.875% 6/01/26 EUR (b) (c)		200,000		207,620
Electricite de France SA
6.125% 6/02/34 GBP (b) (c)		100,000		126,430
Engie SA
5.250% 4/10/29 (b)		200,000		200,626
5.625% 4/10/34 (b)		220,000		220,083
Eversource Energy
5.850% 4/15/31		311,000		319,003
5.950% 7/15/34		591,000		605,454
FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple
7.250% 1/31/41 (b)		260,000		254,527
FirstEnergy Corp.
2.250% 9/01/30		68,000		58,317
2.650% 3/01/30		368,000		326,210
3.400% 3/01/50		466,000		316,431
FirstEnergy Transmission LLC
4.550% 1/15/30 (b)		80,000		77,882

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.000% 1/15/35 (b)	$	125,000	$	120,768
Indianapolis Power & Light Co.
5.700% 4/01/54 (b)		128,000		125,686
IPALCO Enterprises, Inc.
5.750% 4/01/34		220,000		220,366
Minejesa Capital BV
5.625% 8/10/37 (b)		310,000		288,245
National Grid Electricity Distribution East Midlands PLC
3.530% 9/20/28 EUR (b) (c)		100,000		105,426
NextEra Energy Capital Holdings, Inc.
2.440% 1/15/32		369,000		307,726
Niagara Mohawk Power Corp.
5.664% 1/17/54 (b)		217,000		210,166
NRG Energy, Inc.
4.450% 6/15/29 (b)		144,000		137,532
Orsted AS
3.750% 3/01/30 EUR (b) (c)		400,000		425,767
4.875% 1/12/32 GBP (b) (c)		150,000		181,560
Pacific Gas & Electric Co.
2.100% 8/01/27		325,000		303,191
2.500% 2/01/31		395,000		337,756
3.500% 8/01/50		200,000		137,007
5.800% 5/15/34		298,000		304,711
6.700% 4/01/53		123,000		133,122
6.750% 1/15/53		311,000		338,844
6.950% 3/15/34		225,000		246,425
Palomino Funding Trust I
7.233% 5/17/28 (b)		290,000		303,617
RTE Reseau de Transport d'Electricite SADIR
0.750% 1/12/34 EUR (b) (c)		200,000		165,360
Sempra
3.400% 2/01/28		81,000		77,429
Southern Co.
5.200% 6/15/33		565,000		558,531
5.700% 3/15/34		502,000		512,363
State Grid Overseas Investment BVI Ltd.
1.375% 5/02/25 EUR (b) (c)		100,000		102,861
Talen Energy Supply LLC
8.625% 6/01/30 (b)		250,000		266,425
Vistra Corp.
5 yr. CMT + 6.930% 8.000% VRN (b) (e)		355,000		362,300
5 yr. CMT + 5.045% 8.875% VRN (b) (e)		390,000		416,080
Vistra Operations Co. LLC
6.000% 4/15/34 (b)		141,000		142,882
6.950% 10/15/33 (b)		162,000		174,313
7.750% 10/15/31 (b)		105,000		110,152
				13,431,424
Engineering & Construction — 0.5%
ABB Finance BV
3.250% 1/16/27 EUR (b) (c)		100,000		105,123
3.375% 1/16/31 EUR (b) (c)		115,000		122,193
Avinor AS
0.750% 10/01/30 EUR (b) (c)		140,000		127,812
Cellnex Telecom SA
1.750% 10/23/30 EUR (b) (c)		1,200,000		1,142,780
Heathrow Funding Ltd.
2.750% 10/13/31 GBP (b) (c)		225,000		253,682

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
HTA Group Ltd.
7.500% 6/04/29 (b)	$	200,000	$	203,507
Sitios Latinoamerica SAB de CV
5.375% 4/04/32 (b)		200,000		187,657
Sydney Airport Finance Co. Pty. Ltd.
4.375% 5/03/33 EUR (b) (c)		220,000		241,550
				2,384,304
Entertainment — 0.2%
Caesars Entertainment, Inc.
7.000% 2/15/30 (b)		115,000		117,133
Cirsa Finance International SARL
7.875% 7/31/28 EUR (b) (c)		120,000		131,455
Inter Media & Communication SpA
6.750% 2/09/27 EUR (b) (c)		142,461		150,168
Motion Finco SARL
7.375% 6/15/30 EUR (b) (c)		170,000		179,113
Six Flags Entertainment Corp./Six Flags Theme Parks, Inc.
6.625% 5/01/32 (b)		190,000		192,568
				770,437
Food — 0.2%
Bimbo Bakeries USA, Inc.
6.050% 1/15/29 (b)		225,000		229,662
6.400% 1/15/34 (b)		200,000		208,502
Mars, Inc.
4.750% 4/20/33 (b)		374,000		360,678
Mondelez International, Inc.
1.625% 3/08/27 EUR (c)		100,000		101,329
Tesco Corporate Treasury Services PLC
2.750% 4/27/30 GBP (b) (c)		150,000		167,054
				1,067,225
Forest Products & Paper — 0.0%
Mondi Finance Europe GmbH
2.375% 4/01/28 EUR (b) (c)		100,000		102,080
Gas — 0.2%
APA Infrastructure Ltd.
0.750% 3/15/29 EUR (b) (c)		195,000		182,538
2.000% 3/22/27 EUR (b) (c)		100,000		101,375
3.500% 3/22/30 GBP (b) (c)		150,000		172,233
5.125% 9/16/34 (b)		75,000		71,411
5.750% 9/16/44 (b) (d)		100,000		97,800
Boston Gas Co.
6.119% 7/20/53 (b)		131,000		129,087
NiSource, Inc.
5.250% 3/30/28		73,000		73,632
Snam SpA
0.875% 10/25/26 EUR (b) (c)		185,000		185,538
				1,013,614
Hand & Machine Tools — 0.1%
Regal Rexnord Corp.
6.050% 4/15/28		370,000		376,335

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Stanley Black & Decker, Inc.
2.750% 11/15/50 (d)	$	215,000	$	123,581
				499,916
Health Care - Products — 0.5%
Becton Dickinson Euro Finance SARL
1.213% 2/12/36 EUR (c)		100,000		82,330
Medline Borrower LP/Medline Co-Issuer, Inc.
6.250% 4/01/29 (b)		270,000		272,847
Medtronic Global Holdings SCA
0.375% 10/15/28 EUR (c)		100,000		94,653
Revvity, Inc.
1.900% 9/15/28		348,000		311,715
2.250% 9/15/31		186,000		153,258
3.300% 9/15/29		191,000		176,224
Sartorius Finance BV
4.375% 9/14/29 EUR (b) (c)		300,000		325,346
4.500% 9/14/32 EUR (b) (c)		100,000		109,136
4.875% 9/14/35 EUR (b) (c)		300,000		333,325
Solventum Corp.
5.400% 3/01/29 (b)		369,000		369,928
5.900% 4/30/54 (b)		390,000		379,361
Thermo Fisher Scientific, Inc.
0.875% 10/01/31 EUR (c)		140,000		125,720
				2,733,843
Health Care - Services — 1.2%
Centene Corp.
2.450% 7/15/28		196,000		176,382
2.625% 8/01/31		267,000		219,868
3.375% 2/15/30		437,000		389,227
4.250% 12/15/27		81,000		78,465
4.625% 12/15/29		824,000		779,306
Elevance Health, Inc.
4.750% 2/15/30		155,000		153,145
4.950% 11/01/31		210,000		206,521
5.125% 2/15/53		187,000		166,366
Fresenius SE & Co. KGaA
5.000% 11/28/29 EUR (b) (c)		100,000		112,054
HCA, Inc.
3.500% 9/01/30		509,000		462,274
5.450% 9/15/34		195,000		190,065
Health Care Service Corp. A Mutual Legal Reserve Co.
5.200% 6/15/29 (b)		165,000		165,751
5.450% 6/15/34 (b)		215,000		214,826
5.875% 6/15/54 (b)		435,000		421,074
Humana, Inc.
4.875% 4/01/30		468,000		457,913
5.375% 4/15/31		260,000		257,825
Icon Investments Six DAC
5.849% 5/08/29		200,000		203,805
6.000% 5/08/34		200,000		201,924
IQVIA, Inc.
6.250% 2/01/29		322,000		332,928
Molina Healthcare, Inc.
6.250% 1/15/33 (b)		90,000		88,951

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Sutter Health
5.164% 8/15/33	$	119,000	$	118,106
UnitedHealth Group, Inc.
4.500% 4/15/33		356,000		337,764
5.000% 4/15/34		531,000		518,176
				6,252,716
Holding Company - Diversified — 0.0%
ProGroup AG
5.375% 4/15/31 EUR (b) (c)		70,000		70,911
Home Furnishing — 0.0%
Electrolux AB
4.500% 9/29/28 EUR (b) (c)		100,000		107,230
Insurance — 1.1%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
6.500% 10/01/31 (b)		140,000		138,617
6.750% 4/15/28 (b)		215,000		215,506
7.000% 1/15/31 (b)		70,000		70,273
Arthur J Gallagher & Co.
4.850% 12/15/29		75,000		74,656
5.000% 2/15/32		25,000		24,674
5.750% 7/15/54		70,000		68,804
6.750% 2/15/54		425,000		470,545
Athene Global Funding
0.832% 1/08/27 EUR (b) (c)		165,000		163,978
5.526% 7/11/31 (b)		430,000		430,988
5.684% 2/23/26 (b)		539,000		543,393
CNO Financial Group, Inc.
5.250% 5/30/25		185,000		185,015
CNO Global Funding
4.950% 9/09/29 (b)		85,000		84,242
Corebridge Financial, Inc.
3.850% 4/05/29		81,000		77,348
3.900% 4/05/32		251,000		228,449
Corebridge Global Funding
5.200% 1/12/29 (b)		76,000		76,421
Credit Agricole Assurances SA 5 yr. EURIBOR ICE Swap + 2.650%
2.625% VRN 1/29/48 EUR (b) (c)		200,000		200,726
First American Financial Corp.
2.400% 8/15/31		460,000		378,451
Hannover Rueck SE
1.125% 4/18/28 EUR (b) (c)		100,000		98,865
3 mo. EURIBOR + 2.380% 1.125% VRN 10/09/39 EUR (b) (c)		200,000		186,719
HUB International Ltd.
7.250% 6/15/30 (b)		295,000		302,301
Jackson Financial, Inc.
5.170% 6/08/27		340,000		341,463
Jones Deslauriers Insurance Management, Inc.
8.500% 3/15/30 (b)		187,000		196,687
Legal & General Group PLC 5 yr. U.K. Government Bond + 4.580%
5.375% VRN 10/27/45 GBP (b) (c)		185,000		231,283
Metropolitan Life Global Funding I
5.000% 1/10/30 GBP (b) (c)		100,000		125,678
NN Group NV
1.625% 6/01/27 EUR (b) (c)		100,000		101,590

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Panther Escrow Issuer LLC
7.125% 6/01/31 (b)	$	130,000	$	131,299
Sammons Financial Group Global Funding
5.100% 12/10/29 (b)		190,000		188,599
				5,336,570
Internet — 0.6%
Alibaba Group Holding Ltd.
5.250% 5/26/35 (b)		320,000		313,378
5.625% 11/26/54 (b)		200,000		194,122
Match Group Holdings II LLC
5.000% 12/15/27 (b)		128,000		123,793
MercadoLibre, Inc.
3.125% 1/14/31		200,000		173,299
Meta Platforms, Inc.
5.400% 8/15/54		110,000		106,520
5.600% 5/15/53		565,000		564,860
Netflix, Inc.
3.625% 5/15/27 EUR (c)		100,000		105,774
3.875% 11/15/29 EUR (b) (c)		125,000		134,640
4.625% 5/15/29 EUR (c)		100,000		110,890
Uber Technologies, Inc.
4.300% 1/15/30		440,000		425,784
4.500% 8/15/29 (b)		405,000		391,671
4.800% 9/15/34		145,000		138,775
5.350% 9/15/54		100,000		92,991
United Group BV
4.625% 8/15/28 EUR (b) (c)		100,000		102,679
				2,979,176
Investment Companies — 0.4%
Gaci First Investment Co.
4.875% 2/14/35 (b)		475,000		446,056
5.125% 2/14/53 (b)		785,000		657,108
HA Sustainable Infrastructure Capital, Inc.
6.375% 7/01/34 (b)		880,000		856,978
				1,960,142
Leisure Time — 0.2%
Carnival Corp.
7.000% 8/15/29 (b)		95,000		98,819
10.500% 6/01/30 (b)		255,000		272,363
Deuce Finco PLC
5.500% 6/15/27 GBP (b) (c)		100,000		122,323
Harley-Davidson Financial Services, Inc.
5.125% 4/05/26 EUR (b) (c)		210,000		222,401
Royal Caribbean Cruises Ltd.
6.250% 3/15/32 (b)		90,000		91,078
6.000% 2/01/33 (b)		85,000		84,798
				891,782
Lodging — 0.2%
Hilton Domestic Operating Co., Inc.
6.125% 4/01/32 (b)		130,000		129,646
Hyatt Hotels Corp.
5.375% 12/15/31		265,000		263,743

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Las Vegas Sands Corp.
3.500% 8/18/26	$	178,000	$	173,382
MGM China Holdings Ltd.
7.125% 6/26/31 (b)		200,000		202,179
Wynn Macau Ltd.
5.500% 1/15/26 (b)		200,000		198,012
				966,962
Machinery - Diversified — 0.1%
AGCO Corp.
5.800% 3/21/34		102,000		102,520
Highland Holdings SARL
0.318% 12/15/26 EUR (c)		122,000		120,473
Ingersoll Rand, Inc.
5.314% 6/15/31		196,000		198,168
5.450% 6/15/34		162,000		163,094
TK Elevator Midco GmbH
4.375% 7/15/27 EUR (b) (c)		100,000		103,326
				687,581
Media — 0.8%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250% 2/01/31 (b)		210,000		183,020
7.375% 3/01/31 (b)		145,000		147,825
Charter Communications Operating LLC/Charter Communications Operating Capital
2.800% 4/01/31		502,000		423,337
3.750% 2/15/28		209,000		199,074
5.250% 4/01/53		50,000		40,356
6.550% 6/01/34		96,000		98,199
6.650% 2/01/34		471,000		484,801
Comcast Corp.
3.250% 11/01/39		251,000		190,197
5.650% 6/01/54		555,000		536,504
Cox Communications, Inc.
5.700% 6/15/33 (b)		193,000		191,738
5.800% 12/15/53 (b)		275,000		251,096
CSC Holdings LLC
11.750% 1/31/29 (b)		200,000		197,515
Directv Financing LLC/Directv Financing Co-Obligor, Inc.
5.875% 8/15/27 (b)		115,000		112,044
RCS & RDS SA
3.250% 2/05/28 EUR (b) (c)		200,000		200,007
Sirius XM Radio LLC
4.000% 7/15/28 (b)		90,000		82,922
5.000% 8/01/27 (b)		71,000		69,049
Summer BidCo BV
10.000% 2/15/29 EUR (b) (c)		108,522		114,661
Time Warner Cable LLC
6.750% 6/15/39		87,000		85,268
7.300% 7/01/38		46,000		46,797
Videotron Ltd.
5.700% 1/15/35 (b)		380,000		372,961
VZ Secured Financing BV
3.500% 1/15/32 EUR (b) (c)		100,000		95,847

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Ziggo BV
2.875% 1/15/30 EUR (b) (c)	$	100,000	$	96,982
				4,220,200
Mining — 0.4%
Anglo American Capital PLC
3.375% 3/11/29 GBP (b) (c)		140,000		163,476
Corp. Nacional del Cobre de Chile
6.300% 9/08/53 (b)		420,000		409,571
6.440% 1/26/36 (b)		270,000		275,090
Freeport Indonesia PT
4.763% 4/14/27 (b)		240,000		236,738
5.315% 4/14/32 (b)		505,000		491,770
Freeport-McMoRan, Inc.
4.250% 3/01/30		165,000		156,805
4.375% 8/01/28		161,000		156,599
4.625% 8/01/30		63,000		61,065
5.000% 9/01/27		38,000		37,989
5.450% 3/15/43		165,000		154,166
				2,143,269
Miscellaneous - Manufacturing — 0.0%
Knorr-Bremse AG
3.250% 9/21/27 EUR (b) (c)		100,000		104,705
Multi-National — 0.0%
Inter American Development Bank
1.745% STEP 7/31/33 (f) (g)		100,000		100,004
Oil & Gas — 1.9%
BP Capital Markets PLC
2.213% 9/25/26 EUR (b) (c)		160,000		164,659
Continental Resources, Inc.
4.375% 1/15/28		81,000		78,758
Coterra Energy, Inc.
5.400% 2/15/35		230,000		223,029
5.600% 3/15/34		92,000		91,178
Diamondback Energy, Inc.
5.150% 1/30/30		136,000		136,289
5.400% 4/18/34		618,000		607,641
5.750% 4/18/54		252,000		236,484
5.900% 4/18/64		264,000		247,825
6.250% 3/15/53		186,000		185,549
Eni SpA
5.500% 5/15/34 (b)		360,000		355,813
5.950% 5/15/54 (b)		445,000		427,233
Expand Energy Corp.
4.750% 2/01/32		237,000		220,601
5.375% 2/01/29		261,000		257,098
5.375% 3/15/30		279,000		272,816
Hilcorp Energy I LP/Hilcorp Finance Co.
7.250% 2/15/35 (b)		60,000		56,408
8.375% 11/01/33 (b)		179,000		182,722
Occidental Petroleum Corp.
5.550% 10/01/34		180,000		175,081
6.050% 10/01/54		75,000		71,159
6.125% 1/01/31		329,000		336,639

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
6.200% 3/15/40	$	267,000	$	263,048
6.375% 9/01/28		110,000		113,416
6.450% 9/15/36		199,000		203,722
6.625% 9/01/30		505,000		528,480
7.500% 5/01/31		285,000		311,579
8.500% 7/15/27		97,000		103,646
8.875% 7/15/30		646,000		737,766
Petroleos Mexicanos
4.875% 2/21/28 EUR (b) (c)		460,000		450,751
6.840% 1/23/30		420,000		383,644
8.750% 6/02/29		575,000		576,005
QatarEnergy
3.125% 7/12/41 (b)		300,000		221,514
Raizen Fuels Finance SA
5.700% 1/17/35 (b)		320,000		296,240
6.450% 3/05/34 (b)		200,000		197,683
6.950% 3/05/54 (b)		200,000		197,275
Sunoco LP
7.000% 5/01/29 (b)		15,000		15,394
7.250% 5/01/32 (b)		102,000		105,364
Var Energi ASA
5.500% 5/04/29 EUR (b) (c)		320,000		356,245
Wintershall Dea Finance BV
1.332% 9/25/28 EUR (b) (c)		400,000		383,997
				9,772,751
Packaging & Containers — 0.0%
Smurfit Westrock Financing DAC
5.418% 1/15/35 (b)		200,000		198,551
Pharmaceuticals — 1.6%
AbbVie, Inc.
2.125% 11/17/28 EUR (c)		100,000		101,261
2.625% 11/15/28 EUR (c)		225,000		231,915
4.050% 11/21/39		230,000		196,496
4.250% 11/21/49		277,000		225,213
5.050% 3/15/34		1,276,000		1,260,664
Astrazeneca Finance LLC
5.000% 2/26/34		1,005,000		993,990
Bayer US Finance LLC
6.375% 11/21/30 (b)		480,000		493,807
Becton Dickinson & Co.
2.823% 5/20/30		433,000		387,865
3.020% 5/24/25 GBP (c)		150,000		186,140
3.519% 2/08/31 EUR (c)		113,000		118,954
CVS Health Corp.
5.050% 3/25/48		699,000		576,357
5.300% 6/01/33		390,000		373,871
5.625% 2/21/53		366,000		324,619
5 yr. CMT + 2.516% 6.750% VRN 12/10/54		265,000		259,843
5 yr. CMT + 2.886% 7.000% VRN 3/10/55		390,000		391,309
Eli Lilly & Co.
4.700% 2/09/34		1,020,000		988,695
Gruenenthal GmbH
6.750% 5/15/30 EUR (b) (c)		100,000		110,808
Pfizer Investment Enterprises Pte. Ltd.
4.750% 5/19/33		385,000		374,097
5.340% 5/19/63		374,000		343,311

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Utah Acquisition Sub, Inc.
3.125% 11/22/28 EUR (b) (c)	$	155,000	$	161,320
				8,100,535
Pipelines — 1.3%
Boardwalk Pipelines LP
3.400% 2/15/31		756,000		675,396
Cheniere Energy Partners LP
4.500% 10/01/29		107,000		103,595
5.750% 8/15/34 (b)		607,000		611,030
5.950% 6/30/33		318,000		325,534
Cheniere Energy, Inc.
4.625% 10/15/28		162,000		158,486
5.650% 4/15/34		395,000		397,269
Columbia Pipelines Holding Co. LLC
5.681% 1/15/34 (b)		390,000		385,170
Enbridge, Inc.
5.625% 4/05/34		322,000		323,896
Energy Transfer LP
6.400% 12/01/30		264,000		278,951
Greensaif Pipelines Bidco SARL
5.853% 2/23/36 (b)		290,000		286,246
Kinetik Holdings LP
5.875% 6/15/30 (b)		90,000		88,587
6.625% 12/15/28 (b)		41,000		41,943
ONEOK, Inc.
4.400% 10/15/29		190,000		184,206
4.750% 10/15/31		260,000		251,500
5.650% 11/01/28		76,000		77,550
Sabine Pass Liquefaction LLC
4.200% 3/15/28		84,000		82,013
South Bow Canadian Infrastructure Holdings Ltd. 5 yr. CMT + 3.667%
7.500% VRN 3/01/55 (b)		105,000		108,572
South Bow USA Infrastructure Holdings LLC
5.026% 10/01/29 (b)		90,000		88,434
Targa Resources Corp.
6.150% 3/01/29		210,000		217,970
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.000% 1/15/32		107,000		97,343
4.875% 2/01/31		20,000		19,311
5.000% 1/15/28		76,000		75,176
5.500% 3/01/30		128,000		128,403
6.875% 1/15/29		181,000		185,243
Transcanada Trust 3 mo. CAD CDOR + 3.080%
4.650% VRN 5/18/77 CAD (c)		650,000		448,572
Venture Global Calcasieu Pass LLC
4.125% 8/15/31 (b)		100,000		89,553
6.250% 1/15/30 (b)		70,000		70,653
Venture Global LNG, Inc.
8.375% 6/01/31 (b)		65,000		67,790
5 yr. CMT + 5.440% 9.000% VRN (b) (e)		105,000		109,782
9.500% 2/01/29 (b)		355,000		392,370
9.875% 2/01/32 (b)		65,000		71,323
Western Midstream Operating LP
4.500% 3/01/28		81,000		79,296
6.350% 1/15/29		76,000		78,597

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Williams Cos., Inc.
5.150% 3/15/34	$	140,000	$	136,114
				6,735,874
Private Equity — 0.1%
HAT Holdings I LLC/HAT Holdings II LLC
8.000% 6/15/27 (b)		234,000		243,809
Real Estate — 0.2%
Blackstone Property Partners Europe Holdings SARL
1.750% 3/12/29 EUR (b) (c)		180,000		173,334
Howard Hughes Corp.
5.375% 8/01/28 (b)		140,000		135,987
Logicor Financing SARL
0.875% 1/14/31 EUR (b) (c)		600,000		529,669
3.250% 11/13/28 EUR (b) (c)		170,000		175,548
				1,014,538
Real Estate Investment Trusts (REITS) — 0.7%
Alexandria Real Estate Equities, Inc.
5.250% 5/15/36		60,000		58,227
American Homes 4 Rent LP
5.250% 3/15/35 (d)		100,000		97,305
American Tower Corp.
5.450% 2/15/34		421,000		421,720
Brixmor Operating Partnership LP
4.050% 7/01/30		255,000		241,077
4.125% 5/15/29		136,000		130,510
Crown Castle, Inc.
5.800% 3/01/34		196,000		199,678
Equinix Europe 2 Financing Corp. LLC
3.650% 9/03/33 EUR (c)		190,000		197,732
Goodman US Finance Six LLC
5.125% 10/07/34 (b) (d)		105,000		101,284
Healthcare Realty Holdings LP
2.050% 3/15/31		196,000		158,783
3.625% 1/15/28		722,000		685,772
Inmobiliaria Colonial Socimi SA
1.625% 11/28/25 EUR (b) (c)		200,000		205,055
Invitation Homes Operating Partnership LP
4.875% 2/01/35		215,000		203,395
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.
5.750% 2/01/27		55,000		55,302
Praemia Healthcare SACA
0.875% 11/04/29 EUR (b) (c)		200,000		183,236
Prologis LP
2.250% 6/30/29 GBP (c)		150,000		169,249
Segro Capital SARL
1.875% 3/23/30 EUR (b) (c)		185,000		179,944
				3,288,269
Retail — 0.2%
Ferguson Enterprises, Inc.
5.000% 10/03/34		50,000		47,783

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Home Depot, Inc.
4.950% 6/25/34	$	425,000	$	419,258
Lowe's Cos., Inc.
4.250% 4/01/52		96,000		74,922
5.750% 7/01/53		128,000		125,324
Next Group PLC
3.625% 5/18/28 GBP (b) (c)		250,000		300,639
Yum! Brands, Inc.
5.375% 4/01/32		110,000		106,531
				1,074,457
Savings & Loans — 0.0%
Nationwide Building Society 3 mo. EURIBOR + 0.930%
1.500% VRN 3/08/26 EUR (b) (c)		140,000		144,690
Semiconductors — 0.5%
Broadcom, Inc.
3.419% 4/15/33 (b)		382,000		334,377
4.350% 2/15/30		485,000		471,902
4.550% 2/15/32		185,000		178,900
5.150% 11/15/31		315,000		317,040
Intel Corp.
3.250% 11/15/49		646,000		385,641
Marvell Technology, Inc.
2.950% 4/15/31		284,000		249,117
Micron Technology, Inc.
6.750% 11/01/29		251,000		267,233
NXP BV/NXP Funding LLC/NXP USA, Inc.
3.125% 2/15/42		79,000		54,997
3.250% 11/30/51		129,000		82,740
3.400% 5/01/30		191,000		175,438
4.300% 6/18/29		116,000		112,599
				2,629,984
Shipbuilding — 0.0%
Huntington Ingalls Industries, Inc.
5.353% 1/15/30		50,000		50,099
5.749% 1/15/35		90,000		89,757
				139,856
Software — 0.3%
AppLovin Corp.
5.375% 12/01/31		125,000		125,032
Cadence Design Systems, Inc.
4.300% 9/10/29		180,000		176,461
4.700% 9/10/34		105,000		100,667
Ellucian Holdings, Inc.
6.500% 12/01/29 (b)		55,000		55,023
Fiserv, Inc.
1.625% 7/01/30 EUR (c)		100,000		95,873
3.000% 7/01/31 GBP (c)		125,000		138,426
4.500% 5/24/31 EUR (c)		200,000		220,709
IPD 3 BV
8.000% 6/15/28 EUR (b) (c)		100,000		109,282
Oracle Corp.
3.600% 4/01/50		269,000		188,464

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3.950% 3/25/51	$	299,000	$	221,471
UKG, Inc.
6.875% 2/01/31 (b)		115,000		116,671
				1,548,079
Telecommunications — 1.0%
Altice Financing SA
4.250% 8/15/29 EUR (b) (c)		100,000		78,725
Altice France SA
3.375% 1/15/28 EUR (b) (c)		135,000		105,579
America Movil SAB de CV
5.750% 6/28/30 GBP (c)		100,000		129,057
AT&T, Inc.
3.950% 4/30/31 EUR (c)		125,000		135,098
Chorus Ltd.
3.625% 9/07/29 EUR (c)		100,000		105,583
Lorca Telecom Bondco SA
4.000% 9/18/27 EUR (b) (c)		235,000		243,425
Motorola Solutions, Inc.
5.400% 4/15/34		183,000		183,074
NBN Co. Ltd.
4.125% 3/15/29 EUR (b) (c)		355,000		385,254
Orange SA
3.250% 1/15/32 GBP (b) (c)		200,000		223,791
Rogers Communications, Inc.
3.800% 3/15/32		251,000		225,724
4.350% 5/01/49		34,000		26,572
4.550% 3/15/52		625,000		499,640
5.000% 2/15/29		436,000		433,221
5.300% 2/15/34		489,000		476,610
Sprint Capital Corp.
6.875% 11/15/28		569,000		603,984
8.750% 3/15/32		357,000		426,223
TDC Net AS
5.056% 5/31/28 EUR (b) (c)		100,000		107,964
5.618% 2/06/30 EUR (b) (c)		100,000		109,985
Tele2 AB
2.125% 5/15/28 EUR (b) (c)		100,000		100,460
Verizon Communications, Inc.
2.625% 12/01/31 EUR (c)		125,000		125,150
Vmed O2 UK Financing I PLC
4.500% 7/15/31 GBP (b) (c)		155,000		165,423
7.750% 4/15/32 (b)		270,000		272,124
				5,162,666
Toys, Games & Hobbies — 0.1%
Mattel, Inc.
5.875% 12/15/27 (b)		366,000		366,664
Transportation — 0.2%
Brambles Finance PLC
4.250% 3/22/31 EUR (b) (c)		180,000		197,150
Burlington Northern Santa Fe LLC
5.500% 3/15/55		345,000		338,903
Empresa de los Ferrocarriles del Estado
3.068% 8/18/50 (b)		600,000		360,000

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Genesee & Wyoming, Inc.
6.250% 4/15/32 (b)	$	100,000	$	100,603
				996,656
Water — 0.1%
Severn Trent Utilities Finance PLC
4.625% 11/30/34 GBP (b) (c)		160,000		186,930
Veolia Environnement SA
1.940% 1/07/30 EUR (b) (c)		200,000		196,683
				383,613
TOTAL CORPORATE DEBT (Cost $134,814,389)				131,147,416
MUNICIPAL OBLIGATIONS — 0.1%
California — 0.0%
City of Los Angeles Department of Airports, CA, Revenue Bonds, Series C,
6.582% 5/15/39		90,000		95,122
Illinois — 0.0%
State of Illinois, General Obligation,
7.350% 7/01/35		90,357		96,334
Puerto Rico — 0.1%
Commonwealth of Puerto Rico, General Obligation, Series CW,
0.000% 11/01/43 (h)		610,099		373,686
TOTAL MUNICIPAL OBLIGATIONS (Cost $510,745)				565,142
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 8.6%
Automobile Asset-Backed Securities — 1.8%
AmeriCredit Automobile Receivables Trust, Series 2023-1, Class C
5.800% 12/18/28		400,000		406,964
Bayview Opportunity Master Fund VII LLC
Series 2024-CAR1, Class A, 30 day USD SOFR Average + 1.100% 5.669% FRN 12/26/31 (b)		224,350		225,005
Series 2024-CAR1, Class C, 30 day USD SOFR Average + 1.500% 6.069% FRN 12/26/31 (b)		178,056		178,922
CarMax Auto Owner Trust
Series 2024-3, Class A4, 4.850% 1/15/30		100,000		99,690
Series 2024-3, Class A3, 4.890% 7/16/29		240,000		240,020
Series 2024-1, Class B, 5.170% 8/15/29		70,000		69,799
CarMax Select Receivables Trust
Series 2024-A, Class B, 5.350% 1/15/30		145,000		146,558
Series 2024-A, Class A3, 5.400% 11/15/28		125,000		126,252
Carvana Auto Receivables Trust
Series 2024-P2, Class A4, 5.210% 6/10/30		335,000		339,186
Series 2024-N1, Class A3, 5.600% 3/10/28 (b)		185,000		185,963
Series 2024-N1, Class B, 5.630% 5/10/30 (b)		225,000		226,913
Series 2024-N2, Class A3, 5.710% 7/10/28 (b)		355,000		359,317
Enterprise Fleet Financing LLC
Series 2024-4, Class A2, 4.690% 7/20/27 (b)		60,000		60,105
Series 2024-4, Class A4, 4.700% 6/20/31 (b)		95,000		94,143
Series 2024-3, Class A3, 4.980% 8/21/28 (b)		155,000		155,729
Series 2024-3, Class A4, 5.060% 3/20/31 (b)		110,000		110,690
Series 2024-1, Class A3, 5.160% 9/20/30 (b)		280,000		283,454

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Exeter Automobile Receivables Trust
Series 2022-3A, Class C, 5.300% 9/15/27	$	503,382	$	504,021
Series 2023-1A, Class D, 6.690% 6/15/29		85,000		86,283
Ford Credit Auto Lease Trust
Series 2024-A, Class A4, 5.050% 6/15/27		120,000		120,230
Series 2023-A, Class C, 5.540% 12/15/26		850,000		853,094
Ford Credit Auto Owner Trust, Series 2022-C, Class C
5.220% 3/15/30		200,000		201,061
Ford Credit Floorplan Master Owner Trust A
Series 2024-3, Class A1, 4.300% 9/15/29 (b)		230,000		227,442
Series 2024-3, Class B, 4.500% 9/15/29 (b)		155,000		154,046
Huntington Bank Auto Credit-Linked Notes, Series 2024-1, Class B1
6.153% 5/20/32 (b)		275,906		278,902
Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class A
5.590% 4/25/29 (b)		305,000		307,970
Octane Receivables Trust
Series 2024-RVM1, Class A, 5.010% 1/22/46 (b)		135,000		135,055
Series 2024-1A, Class A2, 5.680% 5/20/30 (b)		215,818		217,628
Series 2023-1A, Class A, 5.870% 5/21/29 (b)		46,346		46,553
Series 2023-3A, Class B, 6.480% 7/20/29 (b)		150,000		153,679
Series 2023-3A, Class C, 6.740% 8/20/29 (b)		100,000		102,376
Porsche Innovative Lease Owner Trust, Series 2024-2A, Class A4
4.260% 9/20/30 (b)		230,000		228,594
Santander Bank Auto Credit-Linked Notes
Series 2021-1A, Class B, 1.833% 12/15/31 (b)		170		170
Series 2023-B, Class B, 5.640% 12/15/33 (b)		213,876		215,213
Santander Consumer Auto Receivables Trust, Series 2021-AA, Class D
1.570% 1/15/27 (b)		735,000		716,578
Santander Drive Auto Receivables Trust, Series 2021-4, Class D
1.670% 10/15/27		281,907		277,337
SBNA Auto Lease Trust
Series 2024-C, Class A4, 4.420% 3/20/29 (b)		90,000		89,544
Series 2024-C, Class A3, 4.560% 2/22/28 (b)		185,000		185,074
Series 2024-A, Class A4, 5.240% 1/22/29 (b)		165,000		166,338
Series 2024-A, Class A3, 5.390% 11/20/26 (b)		175,000		175,983
SFS Auto Receivables Securitization Trust
Series 2024-1A, Class A4, 4.940% 1/21/31 (b)		130,000		130,661
Series 2024-1A, Class C, 5.510% 1/20/32 (b)		65,000		65,279
US Bank NA, Series 2023-1, Class B
6.789% 8/25/32 (b)		133,853		135,760
				9,083,581
Commercial Mortgage-Backed Securities — 1.3%
Bank5
Series 2024-5YR8, Class A3, 5.884% 8/15/57		345,000		353,827
Series 2024-5YR12, Class A3, 5.902% VRN 12/15/57 (i)		205,000		210,612
BBCMS Mortgage Trust
Series 2024-5C27, Class A3, 6.014% 7/15/57		120,000		123,943
Series 2019-BWAY, Class D, 1 mo. USD Term SOFR + 2.274% 6.672% FRN 11/15/34 (b)		245,000		2,450
BMO Mortgage Trust, Series 2024-5C5, Class A3
5.857% 2/15/57		935,000		956,038
BX Commercial Mortgage Trust
Series 2024-SLCT, Class A, 1 mo. USD Term SOFR + 1.323% 5.770% FRN 1/15/42 (b)		295,000		294,539
Series 2024-GPA3, Class A, 1 mo. USD Term SOFR + 1.293% 5.800% FRN 12/15/39 (b)		420,000		419,869

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2024-MDHS, Class A, 1 mo. USD Term SOFR + 1.641% 6.038% FRN 5/15/41 (b)	$	946,812	$	951,545
Cantor Commercial Real Estate Lending, Series 2019-CF2, Class B
3.267% 11/15/52		295,000		259,542
COMM Mortgage Trust, Series 2015-CR23, Class AM
3.801% 5/10/48		195,000		193,519
CONE Trust, Series 2024-DFW1, Class A, 1 mo. USD Term SOFR + 1.642%
6.039% FRN 8/15/41 (b)		415,000		417,074
Credit Suisse Mortgage Trust
Series 2020-NET, Class A, 2.257% 8/15/37 (b)		151,621		146,631
Series 2020-NET, Class C, 3.526% 8/15/37 (b)		480,000		464,199
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-WPT, Class AFX
4.248% 7/05/33 (b)		115,000		107,386
MED Commercial Mortgage Trust, Series 2024-MOB, Class A, 1 mo. USD Term SOFR + 1.592%
5.989% FRN 5/15/41 (b)		330,000		328,351
SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, 1 mo. USD Term SOFR + 1.392%
5.789% FRN 5/15/39 (b)		690,000		689,786
TX Trust, Series 2024-HOU, Class A, 1 mo. USD Term SOFR + 1.591%
5.989% FRN 6/15/39 (b)		190,000		189,527
VNDO Trust, Series 2016-350P, Class D,
3.903% VRN 1/10/35 (b) (i)		215,000		204,124
WB Commercial Mortgage Trust, Series 2024-HQ, Class A,
5.937% VRN 3/15/40 (b) (i)		285,000		285,901
Wells Fargo Commercial Mortgage Trust, Series 2021-SAVE, Class C, 1 mo. USD Term SOFR + 1.914%
6.313% FRN 2/15/40 (b)		324,000		320,868
				6,919,731
Other Asset-Backed Securities — 4.3%
522 Funding CLO Ltd., Series 2019-5A, Class BR, 3 mo. USD Term SOFR + 1.850%
6.506% FRN 4/15/35 (b)		465,000		465,398
Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class C
2.370% 4/20/28 (b)		175,000		171,840
Amur Equipment Finance Receivables XIII LLC, Series 2024-1A, Class A2
5.380% 1/21/31 (b)		344,473		347,664
Amur Equipment Finance Receivables XIV LLC, Series 2024-2A, Class A2
5.190% 7/21/31 (b)		385,000		387,890
Auxilior Term Funding LLC
Series 2024-1A, Class A3, 5.490% 7/15/31 (b)		140,000		140,480
Series 2024-1A, Class A2, 5.840% 3/15/27 (b)		170,000		171,227
BRE Grand Islander Timeshare Issuer LLC, Series 2019-A, Class A
3.280% 9/26/33 (b)		86,423		84,744
CCG Receivables Trust, Series 2024-1, Class A2
4.990% 3/15/32 (b)		380,000		382,364
CIFC Funding Ltd., Series 2018-1A, Class A1R, 3 mo. USD Term SOFR + 1.320%
5.794% FRN 1/18/38 (b)		485,000		485,069
Clarus Capital Funding LLC, Series 2024-1A, Class A2
4.710% 8/20/32 (b)		190,000		189,291
Cologix Canadian Issuer LP, Series 2022-1CAN, Class A2
4.940% 1/25/52 CAD (b) (c)		275,000		185,400
Crossroads Asset Trust, Series 2024-A, Class A2
5.900% 8/20/30 (b)		218,367		221,125

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
CyrusOne Data Centers Issuer I LLC
Series 2024-2A, Class A2, 4.500% 5/20/49 (b)	$	875,000	$	835,599
Series 2024-3A, Class A2, 4.650% 5/20/49 (b)		435,000		404,017
Dell Equipment Finance Trust
Series 2024-2, Class A3, 4.590% 8/22/30 (b)		260,000		259,799
Series 2024-1, Class C, 5.730% 3/22/30 (b)		100,000		100,893
Series 2023-3, Class C, 6.170% 4/23/29 (b)		125,000		127,194
DLLST LLC
Series 2024-1A, Class A4, 4.930% 4/22/30 (b)		45,000		44,955
Series 2024-1A, Class A3, 5.050% 8/20/27 (b)		190,000		190,520
Driven Brands Funding LLC
Series 2020-2A, Class A2, 3.237% 1/20/51 (b)		530,689		497,810
Series 2020-1A, Class A2, 3.786% 7/20/50 (b)		256,958		245,791
Series 2019-1A, Class A2, 4.641% 4/20/49 (b)		156,358		154,000
Dryden 45 Senior Loan Fund, Series 2016-45A, Class A1RR, 3 mo. USD Term SOFR + 1.080%
5.736% FRN 10/15/30 (b)		225,024		225,069
Dryden 93 CLO Ltd., Series 2021-93A, Class BR, 3 mo. USD Term SOFR + 1.700%
6.031% FRN 1/15/38 (b)		255,000		255,044
Elara HGV Timeshare Issuer LLC
Series 2023-A, Class A, 6.160% 2/25/38 (b)		148,276		151,221
Series 2023-A, Class B, 6.530% 2/25/38 (b)		119,151		120,913
Elmwood CLO 20 Ltd., Series 2022-7A, Class AR, 3 mo. USD Term SOFR + 1.500%
6.148% FRN 1/17/37 (b)		305,000		305,411
FirstKey Homes Trust, Series 2020-SFR2, Class C
1.667% 10/19/37 (b)		340,000		330,654
Hardee's Funding LLC
Series 2021-1A, Class A2, 2.865% 6/20/51 (b)		289,500		259,844
Series 2024-1A, Class A2, 7.253% 3/20/54 (b)		620,313		624,967
Highbridge Loan Management Ltd., Series 5A-2015, Class A1R3, 3 mo. USD Term SOFR + 1.060%
6.068% FRN 10/15/30 (b)		250,000		250,246
HPEFS Equipment Trust
Series 2022-1A, Class C, 1.960% 5/21/29 (b)		35,032		34,942
Series 2022-1A, Class D, 2.400% 11/20/29 (b)		350,000		346,438
Series 2024-2A, Class B, 5.350% 10/20/31 (b)		100,000		100,988
Series 2024-2A, Class A3, 5.360% 10/20/31 (b)		145,000		146,326
Series 2023-2A, Class B, 6.250% 1/21/31 (b)		100,000		101,363
Series 2023-2A, Class C, 6.480% 1/21/31 (b)		140,000		142,265
Series 2023-2A, Class D, 6.970% 7/21/31 (b)		100,000		100,719
HPS Loan Management Ltd., Series 11A-17, Class BR, 3 mo. USD Term SOFR + 1.812%
6.343% FRN 5/06/30 (b)		265,000		265,452
Invesco US CLO Ltd., Series 2023-1A, Class AR, 3 mo. USD Term SOFR + 1.570%
6.202% FRN 4/22/37 (b)		250,000		251,575
Jamestown CLO XV Ltd., Series 2020-15A, Class A1R, 3 mo. USD Term SOFR + 1.370%
6.026% FRN 7/15/35 (b)		465,000		466,048
Jersey Mike's Funding LLC, Series 2019-1A, Class A2
4.433% 2/15/50 (b)		59,550		58,809
Kubota Credit Owner Trust
Series 2023-1A, Class A4, 5.070% 2/15/29 (b)		110,000		111,036
Series 2024-2A, Class A4, 5.190% 5/15/30 (b)		145,000		145,726
Series 2024-2A, Class A3, 5.260% 11/15/28 (b)		275,000		279,197

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Madison Park Funding LX Ltd., Series 2022-60A, Class BR, 3 mo. USD Term SOFR + 1.750%
6.376% FRN 10/25/37 (b)	$	250,000	$	251,853
Madison Park Funding LXI Ltd., Series 2023-61A, Class A, 3 mo. USD Term SOFR + 1.730%
6.347% FRN 1/20/37 (b)		275,000		276,587
MVW LLC
Series 2023-1A, Class A, 4.930% 10/20/40 (b)		346,184		345,402
Series 2023-2A, Class A, 6.180% 11/20/40 (b)		157,616		161,330
Series 2023-2A, Class B, 6.330% 11/20/40 (b)		94,861		96,474
Neuberger Berman CLO XXI Ltd., Series 2016-21A, Class A1R3, 3 mo. USD Term SOFR + 1.320%
5.792% FRN 1/20/39 (b)		385,000		385,955
Northwoods Capital XIV-B Ltd., Series 2018-14BA, Class AR, 3 mo. USD Term SOFR + 1.250%
5.766% FRN 11/13/31 (b)		466,781		467,494
OCP CLO Ltd., Series 2017-13A, Class AR2, 3 mo. USD Term SOFR + 1.340%
5.900% FRN 11/26/37 (b)		250,000		250,250
Palmer Square CLO Ltd., Series 2020-3A, Class A1R2, 3 mo. USD Term SOFR + 1.650%
6.174% FRN 11/15/36 (b)		430,000		432,945
Post Road Equipment Finance LLC, Series 2024-1A, Class A2
5.590% 11/15/29 (b)		116,438		117,236
Progress Residential Trust
Series 2021-SFR1, Class A, 1.052% 4/17/38 (b)		287,058		276,893
Series 2024-SFR5, Class A, 3.000% 8/09/29 (b)		475,000		431,235
Rockford Tower CLO Ltd., Series 2019-2A, Class AR2, 3 mo. USD Term SOFR + 1.130%
5.651% FRN 8/20/32 (b)		293,215		293,465
RR 12 Ltd., Series 2020-12A, Class AAR3, 3 mo. USD Term SOFR + 1.250%
5.906% FRN 1/15/36 (b)		1,155,000		1,157,214
RR 28 Ltd., Series 2024-28RA, Class A1R, 3 mo. USD Term SOFR + 1.550%
6.206% FRN 4/15/37 (b)		650,000		650,881
RR 34 Ltd., Series 2024-34RA, Class A2AR, 3 mo. USD Term SOFR + 1.700%
6.262% FRN 10/15/39 (b)		305,000		305,052
SCF Equipment Leasing LLC, Series 2024-1A, Class A3
5.520% 1/20/32 (b)		325,000		330,508
SEB Funding LLC, Series 2024-1A, Class A2
7.386% 4/30/54 (b)		740,000		759,025
Sound Point CLO XXII Ltd., Series 2019-1A, Class BRR, 3 mo. USD Term SOFR + 1.650%
6.141% FRN 1/20/32 (b)		250,000		250,030
Symphony CLO XVI Ltd., Series 2015-16A, Class ARR, 3 mo. USD Term SOFR + 1.200%
5.856% FRN 10/15/31 (b)		963,220		963,868
Symphony CLO XXXI Ltd., Series 2022-31A, Class B, 3 mo. USD Term SOFR + 1.850%
6.482% FRN 4/22/35 (b)		410,000		411,039
THL Credit Wind River CLO Ltd., Series 2018-2A, Class A1R, 3 mo. USD Term SOFR + 1.200%
5.856% FRN 7/15/30 (b)		373,004		373,489
TIAA CLO I Ltd., Series 2016-1A, Class ARR, 3 mo. USD Term SOFR + 1.250%
5.867% FRN 7/20/31 (b)		505,064		505,774

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Tricon Residential Trust
Series 2024-SFR4, Class A, 4.300% 11/17/41 (b)	$	145,000	$	139,260
Series 2024-SFR3, Class A, 4.500% 8/17/41 (b)		210,000		204,298
Series 2024-SFR2, Class A, 4.750% 6/17/40 (b)		564,649		557,253
Verdant Receivables LLC, Series 2024-1A, Class A2
5.680% 12/12/31 (b)		130,000		131,562
Verizon Master Trust, Series 2023-1, Class C
4.980% 1/22/29		250,000		244,743
				21,938,438
Real Estate Investment Trusts (REITS) — 0.3%
SBA Tower Trust
1.840% 4/15/27 (b)		635,000		587,451
2.593% 10/15/56 (b)		515,000		423,703
4.831% 10/15/29 (b)		400,000		390,716
				1,401,870
Student Loans Asset-Backed Securities — 0.2%
Navient Private Education Refi Loan Trust, Series 2020-CA, Class B
2.830% 11/15/68 (b)		470,000		387,300
SMB Private Education Loan Trust
Series 2020-B, Class A1A, 1.290% 7/15/53 (b)		117,059		108,538
Series 2021-A, Class B, 2.310% 1/15/53 (b)		466,131		448,168
Series 2018-A, Class A2A, 3.500% 2/15/36 (b)		273,296		268,238
				1,212,244
Whole Loan Collateral Collateralized Mortgage Obligations — 0.7%
Angel Oak Mortgage Trust
Series 2022-1, Class A1, 2.881% STEP 12/25/66 (b)		258,617		236,111
Series 2020-5, Class M1, 2.970% VRN 5/25/65 (b) (i)		275,000		238,273
BINOM Securitization Trust, Series 2021-INV1, Class A1,
2.034% VRN 6/25/56 (b) (i)		220,853		197,013
Chase Home Lending Mortgage Trust, Series 2024-RPL4, Class A1B,
3.375% VRN 12/25/64 (b) (i)		58,673		51,605
Citigroup Mortgage Loan Trust, Series 2022-INV1, Class A4B,
3.000% VRN 11/27/51 (b) (i)		195,735		161,986
Flagstar Mortgage Trust
Series 2018-6RR, Class 2A4, 4.000% VRN 9/25/48 (b) (i)		9,839		9,466
Series 2020-1INV, Class A11, 1 mo. USD Term SOFR + 0.964% 5.303% FRN 3/25/50 (b)		74,254		71,154
Galton Funding Mortgage Trust, Series 2018-1, Class A23,
3.500% VRN 11/25/57 (b) (i)		16,708		15,101
GS Mortgage-Backed Securities Trust, Series 2020-INV1, Class A14,
2.912% VRN 10/25/50 (b) (i)		208,421		175,424
Imperial Fund Mortgage Trust, Series 2021-NQM2, Class A1,
1.073% VRN 9/25/56 (b) (i)		168,437		138,226
JP Morgan Mortgage Trust
Series 2020-LTV1, Class B1A, 3.256% VRN 6/25/50 (b) (i)		341,824		279,136
Series 2019-INV3, Class A3, 3.500% VRN 5/25/50 (b) (i)		88,187		77,478
Series 2020-LTV1, Class A3, 3.500% VRN 6/25/50 (b) (i)		9,536		9,333
Series 2020-INV1, Class A3, 3.500% VRN 8/25/50 (b) (i)		78,880		69,154
Series 2020-5, Class B2, 3.570% VRN 12/25/50 (b) (i)		318,976		272,271
Series 2020-INV1, Class A11, 1 mo. USD Term SOFR + 0.944% 5.283% FRN 8/25/50 (b)		49,957		47,870
MFA Trust, Series 2020-NQM3, Class M1,
2.654% VRN 1/26/65 (b) (i)		170,000		148,449

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
OBX Trust
Series 2020-EXP1, Class 1A8, 3.500% VRN 2/25/60 (b) (i)	$	217,817	$	187,985
Series 2019-INV2, Class A25, 4.000% VRN 5/27/49 (b) (i)		88,636		80,975
Sequoia Mortgage Trust
Series 2017-CH1, Class A2, 3.500% VRN 8/25/47 (b) (i)		24,809		22,486
Series 2017-CH1, Class A13, 4.000% VRN 8/25/47 (b) (i)		30,840		28,659
Series 2018-CH3, Class A2, 4.000% VRN 8/25/48 (b) (i)		4,238		4,114
SG Residential Mortgage Trust, Series 2019-3, Class A1,
2.703% VRN 9/25/59 (b) (i)		1,825		1,816
Towd Point Mortgage Trust, Series 2019-HY3, Class A1A, 1 mo. USD Term SOFR + 1.114%
5.453% FRN 10/25/59 (b)		68,679		70,095
Verus Securitization Trust
Series 2021-5, Class A2, 1.218% VRN 9/25/66 (b) (i)		229,511		192,199
Series 2022-1, Class A1, 2.724% STEP 1/25/67 (b)		634,599		573,679
				3,360,058
Whole Loan Collateral Support Collateralized Mortgage Obligations — 0.0%
JP Morgan Mortgage Trust
Series 2019-INV3, Class A15, 3.500% VRN 5/25/50 (b) (i)		75,917		66,508
Series 2020-LTV1, Class A15, 3.500% VRN 6/25/50 (b) (i)		4,076		3,992
Sequoia Mortgage Trust
Series 2018-CH1, Class A19, 4.000% VRN 3/25/48 (b) (i)		46,377		42,244
Series 2018-CH2, Class A21, 4.000% VRN 6/25/48 (b) (i)		17,394		15,891
				128,635
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $45,039,699)				44,044,557
SOVEREIGN DEBT OBLIGATIONS — 16.7%
Albania Government International Bond
3.500% 6/16/27 EUR (b) (c)		105,000		107,121
5.900% 6/09/28 EUR (b) (c)		410,000		440,625
Australia Government Bond
3.000% 3/21/47 AUD (b) (c)		705,000		328,243
4.500% 4/21/33 AUD (b) (c)		2,920,000		1,833,758
Bonos de la Tesoreria de la Republica en pesos
5.800% 10/01/34 CLP (b) (c)		575,000,000		748,677
Brazil Notas do Tesouro Nacional Series F
10.000% 1/01/31 BRL (c)		2,975,000		561,125
10.000% 1/01/35 BRL (c)		6,230,000		334,875
Bulgaria Government International Bond
4.500% 1/27/33 EUR (b) (c)		450,000		505,975
Bundesrepublik Deutschland Bundesanleihe
0.000% 8/15/52 EUR (b) (c)		96,210		49,570
2.500% 8/15/54 EUR (b) (c)		785,000		796,472
Canadian Government Bond
4.000% 3/01/29 CAD (c)		3,344,000		2,421,582
Canadian Government Real Return Bond
4.000% 12/01/31 CAD (c)		3,075,063		2,523,158
Chile Government International Bond
4.125% 7/05/34 EUR (c)		170,000		181,324
China Development Bank
3.480% 1/08/29 CNY (c)		9,000,000		1,326,439
China Government Bond
2.280% 3/25/31 CNY (c)		4,000,000		570,224

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
2.470% 7/25/54 CNY (c)	$	4,500,000	$	679,317
2.670% 5/25/33 CNY (c)		26,600,000		3,913,947
2.690% 8/15/32 CNY (c)		3,500,000		514,857
3.320% 4/15/52 CNY (c)		12,000,000		2,083,360
4.000% 6/24/69 CNY (c)		1,000,000		215,803
Colombia TES
6.000% 4/28/28 COP (c)		1,597,700,000		318,765
7.000% 3/26/31 COP (c)		2,833,500,000		525,127
7.250% 10/18/34 COP (c)		1,070,600,000		180,264
13.250% 2/09/33 COP (c)		1,945,100,000		476,652
Cyprus Government International Bond
0.950% 1/20/32 EUR (b) (c)		610,000		556,139
2.750% 5/03/49 EUR (b) (c)		99,000		88,813
Czech Republic Government Bond
1.500% 4/24/40 CZK (c)		58,560,000		1,636,840
4.900% 4/14/34 CZK (c)		19,580,000		849,420
Deutsche Bundesrepublik Inflation-Linked Bond
0.500% 4/15/30 EUR (b) (c)		2,381,041		2,472,049
Egypt Government International Bond
6.375% 4/11/31 EUR (b) (c)		376,000		342,695
Estonia Government International Bond
3.250% 1/17/34 EUR (b) (c)		850,000		889,668
French Republic Government Bond OAT
1.250% 5/25/36 EUR (b) (c)		1,666,000		1,401,565
2.500% 5/25/30 EUR (b) (c)		1,285,000		1,317,189
2.750% 2/25/30 EUR (b) (c)		1,347,000		1,397,200
4.000% 4/25/55 EUR (b) (c)		686,000		746,014
Hellenic Republic Government Bond
0.750% 6/18/31 EUR (b) (c)		585,000		530,452
Hungary Government Bond
2.250% 4/20/33 HUF (c)		55,800,000		102,672
Hungary Government International Bond
5.000% 2/22/27 EUR (b) (c)		247,000		264,887
Iceland Government International Bond
0.000% 4/15/28 EUR (b) (c)		346,000		329,315
3.500% 3/21/34 EUR (b) (c)		209,000		225,692
India Government Bond
6.540% 1/17/32 INR (c)		55,500,000		638,536
7.260% 8/22/32 INR (c)		86,730,000		1,038,719
Indonesia Government International Bond
3.750% 6/14/28 EUR (b) (c)		1,280,000		1,341,528
Indonesia Treasury Bond
5.500% 4/15/26 IDR (c)		9,880,000,000		601,505
6.375% 8/15/28 IDR (c)		3,627,000,000		220,743
6.375% 4/15/32 IDR (c)		5,431,000,000		324,089
6.875% 4/15/29 IDR (c)		5,003,000,000		309,073
7.000% 2/15/33 IDR (c)		26,988,000,000		1,670,540
Ireland Government Bond
1.500% 5/15/50 EUR (b) (c)		36,000		27,926
2.000% 2/18/45 EUR (b) (c)		157,000		139,793
Israel Government International Bond
1.500% 1/18/27 EUR (b) (c)		530,000		527,610
Italy Buoni Poliennali Del Tesoro
1.300% 5/15/28 EUR (b) (c)		1,070,122		1,119,648
2.800% 3/01/67 EUR (b) (c)		592,000		470,126
4.500% 10/01/53 EUR (b) (c)		571,000		631,244
Ivory Coast Government International Bond
5.875% 10/17/31 EUR (b) (c)		485,000		470,139

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Japan Government Forty Year Bond
1.300% 3/20/63 JPY (c)	$	56,050,000	$	251,836
Japan Government Ten Year Bond
0.400% 3/20/25 JPY (c)		283,500,000		1,802,710
Japan Government Thirty Year Bond
1.000% 3/20/52 JPY (c)		326,750,000		1,575,095
1.300% 6/20/52 JPY (c)		204,250,000		1,059,875
1.400% 9/20/52 JPY (c)		165,500,000		877,983
1.700% 9/20/44 JPY (c)		286,250,000		1,767,402
2.200% 6/20/54 JPY (c)		40,400,000		254,232
Japanese Government CPI-Linked Bond
0.005% 3/10/31 JPY (c)		189,295,200		1,269,226
0.005% 3/10/32 JPY (c)		73,960,686		493,792
0.005% 3/10/33 JPY (c)		77,829,434		516,406
0.005% 3/10/34 JPY (c)		359,501,106		2,371,618
0.100% 3/10/25 JPY (c)		274,947,000		1,756,152
Latvia Government International Bond
0.375% 10/07/26 EUR (b) (c)		2,114,000		2,099,961
3.875% 5/22/29 EUR (b) (c)		350,000		377,028
Lithuania Government International Bond
3.500% 2/13/34 EUR (b) (c)		344,000		363,863
3.875% 6/14/33 EUR (b) (c)		766,000		837,947
Magyar Export-Import Bank Zrt
6.000% 5/16/29 EUR (b) (c)		120,000		134,127
Malaysia Government Bond
3.906% 7/15/26 MYR (c)		4,060,000		914,694
4.065% 6/15/50 MYR (c)		2,009,000		442,440
4.642% 11/07/33 MYR (c)		3,307,000		783,045
4.736% 3/15/46 MYR (c)		6,340,000		1,538,688
4.921% 7/06/48 MYR (c)		3,455,000		861,968
Mexican Bonos
7.500% 5/26/33 MXN (c)		10,756,000		435,832
8.500% 5/31/29 MXN (c)		23,710,000		1,075,643
8.500% 11/18/38 MXN (c)		6,805,000		278,026
Montenegro Government International Bond
7.250% 3/12/31 (b)		400,000		410,624
Morocco Government International Bond
1.375% 3/30/26 EUR (b) (c)		380,000		381,814
New South Wales Treasury Corp.
4.000% 5/20/26 AUD (b) (c)		680,000		420,642
4.000% 5/20/26 AUD (b) (c)		860,000		531,988
North Macedonia Government International Bond
6.960% 3/13/27 EUR (b) (c)		150,000		161,773
Peru Government Bond
5.400% 8/12/34 PEN (c)		2,119,000		513,766
Peruvian Government International Bond
2.783% 1/23/31		390,000		332,475
5.375% 2/08/35		230,000		220,800
5.400% 8/12/34 PEN (b) (c)		304,000		73,172
Philippines Government International Bond
0.250% 4/28/25 EUR (c)		125,000		128,007
Province of Ontario
3.500% 6/02/43 CAD (c)		76,000		48,161
3.500% 6/02/43 CAD (c)		62,000		39,289
Republic of Austria Government Bond
0.750% 3/20/51 EUR (b) (c)		938,000		579,764
3.150% 10/20/53 EUR (b) (c)		260,000		272,637

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Republic of Poland Government Bond
5.000% 10/25/34 PLN (c)	$	4,929,000	$	1,119,028
Republic of Poland Government International Bond
3.625% 1/11/34 EUR (b) (c)		480,000		507,530
3.875% 10/22/39 EUR (b) (c)		650,000		677,261
Republic of South Africa Government Bond
8.875% 2/28/35 ZAR (c)		24,127,000		1,163,663
Serbia International Bond
1.000% 9/23/28 EUR (b) (c)		705,000		655,427
3.125% 5/15/27 EUR (b) (c)		480,000		489,654
Singapore Government Bond
0.500% 11/01/25 SGD (c)		900,000		646,377
2.375% 6/01/25 SGD (c)		480,000		350,567
2.875% 7/01/29 SGD (c)		835,000		612,843
Slovenia Government Bond
0.000% 2/12/31 EUR (b) (c)		155,000		136,795
1.500% 3/25/35 EUR (b) (c)		328,000		294,402
2.250% 3/03/32 EUR (b) (c)		170,000		170,133
Spain Government Bond
0.000% 1/31/28 EUR (c)		1,480,000		1,425,532
1.900% 10/31/52 EUR (b) (c)		485,000		351,536
Sri Lanka Government Bond
11.400% 1/15/27 LKR (c)		31,000,000		109,322
11.500% 8/01/26 LKR (c)		28,000,000		98,479
20.000% 9/15/27 LKR (c)		40,000,000		168,674
Sweden Bond Inflation-Linked
0.125% 6/01/32 SEK (b) (c)		4,385,000		508,675
UK Gilts
0.625% 10/22/50 GBP (b) (c)		87,000		40,586
3.250% 1/22/44 GBP (b) (c)		1,248,000		1,217,021
4.250% 12/07/46 GBP (b) (c)		1,605,000		1,783,625
				85,100,720
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $93,472,798)				85,100,720
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (j) — 18.5%
Collateralized Mortgage Obligations — 0.1%
Federal Home Loan Mortgage Corp. REMICS Series 5293, Class KI 2.000% 2/25/51		993,430		131,501
Federal National Mortgage Association Interest STRIPS Series 435, Class C24 2.000% 4/25/52		282,421		35,089
Government National Mortgage Association REMICS
Series 2020-181, Class WI, 2.000% 12/20/50		1,076,046		125,576
Series 2022-63, Class LM, 3.500% 10/20/50		260,000		211,517
				503,683
Pass-Through Securities — 18.4%
Federal Home Loan Mortgage Corp.
Pool #SB0869 1.500% 2/01/36		168,291		145,436
Pool #RC1756 1.500% 2/01/36		196,482		169,798
Pool #QN7552 2.000% 8/01/36		242,591		214,881
Pool #RB5114 2.000% 6/01/41		138,054		115,320
Pool #RB5148 2.000% 3/01/42		544,826		452,010
Pool #RA3046 2.000% 7/01/50		23,375		18,385
Pool #SD8128 2.000% 2/01/51		1,426,834		1,115,987

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #SD8140 2.000% 4/01/51	$	477,358	$	372,616
Pool #RA5258 2.000% 5/01/51		748,436		584,214
Pool #SD8146 2.000% 5/01/51		465,129		363,070
Pool #QC2565 2.000% 6/01/51		28,032		21,881
Pool #RA6505 2.000% 12/01/51		586,649		459,209
Pool #QD9658 2.000% 2/01/52		32,293		25,106
Pool #SD1217 2.000% 3/01/52		212,697		167,755
Pool #SD8204 2.000% 4/01/52		200,853		156,279
Pool #SD3580 2.000% 4/01/52		238,559		188,302
Pool #RA7324 2.000% 5/01/52		133,822		105,462
Pool #RB5149 2.500% 3/01/42		575,075		493,039
Pool #SD8089 2.500% 7/01/50		129,822		106,556
Pool #SD8099 2.500% 10/01/50		136,744		112,237
Pool #QC3425 2.500% 6/01/51		196,478		159,915
Pool #QC2902 2.500% 6/01/51		31,973		26,573
Pool #QC5575 2.500% 8/01/51		71,367		58,109
Pool #SD8161 2.500% 8/01/51		810,686		663,626
Pool #SD7548 2.500% 11/01/51		456,018		377,286
Pool #RA6623 2.500% 1/01/52		955,846		787,532
Pool #SD8200 2.500% 3/01/52		603,942		492,310
Pool #SD5421 2.500% 4/01/52		185,352		152,019
Pool #RA7135 2.500% 4/01/52		360,462		295,975
Pool #SD8212 2.500% 5/01/52		210,282		171,413
Pool #RB5163 3.000% 5/01/42		249,740		221,031
Pool #RB5162 3.000% 6/01/42		103,269		91,398
Pool #RB5166 3.000% 7/01/42		58,661		51,918
Pool #RB5173 3.000% 8/01/42		49,215		43,511
Pool #SD1497 3.000% 4/01/43		257,721		229,044
Pool #ZS4693 3.000% 12/01/46		60,870		52,751
Pool #G08756 3.000% 4/01/47		25,954		22,506
Pool #SD0080 3.000% 9/01/49		109,787		95,211
Pool #SD7531 3.000% 12/01/50		136,063		117,488
Pool #SD1183 3.000% 1/01/52		226,737		194,508
Pool #SD7555 3.000% 8/01/52		784,037		675,778
Pool #SD2879 3.000% 8/01/52		312,743		269,560
Pool #SB0015 3.500% 6/01/33		99,725		95,351
Pool #U90690 3.500% 6/01/42		38,507		35,098
Pool #U99051 3.500% 6/01/43		39,221		35,754
Pool #ZT0179 3.500% 11/01/47		235,776		212,722
Pool #RA1202 3.500% 8/01/49		92,493		83,073
Pool #SD0212 3.500% 12/01/49		122,671		110,101
Pool #SD1361 3.500% 2/01/50		289,436		263,224
Pool #SD0617 3.500% 11/01/50		88,359		79,277
Pool #SB8171 4.000% 6/01/37		50,430		48,598
Pool #SB0727 4.000% 8/01/37		176,624		170,044
Pool #RA1906 4.000% 12/01/49		165,131		152,555
Pool #SD8039 4.000% 1/01/50		202,683		187,121
Pool #SD1035 4.000% 5/01/52		197,991		180,995
Pool #SD0422 4.500% 7/01/45		95,360		92,793
Pool #RA2607 4.500% 5/01/50		44,397		42,270
Pool #ZS3941 5.000% 12/01/41		30,132		30,053
Pool #QF1305 5.000% 10/01/52		67,839		65,617
Pool #SD3041 5.000% 5/01/53		102,259		98,846
Pool #SD5732 5.000% 4/01/54		522,105		505,659
Pool #SD6382 5.000% 7/01/54		172,771		166,668
Pool #SD6907 5.000% 12/01/54		663,829		641,404
Pool #SD3630 5.500% 8/01/53		1,027,401		1,018,782
Pool #QH3273 5.500% 10/01/53		35,892		35,429

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #SD4967 5.500% 2/01/54	$	280,013	$	277,651
Pool #QI6767 5.500% 5/01/54		95,897		94,729
Pool #SD5565 5.500% 5/01/54		345,275		342,470
Pool #QJ3040 5.500% 9/01/54		222,960		221,358
Pool #QI9074 6.000% 6/01/54		73,262		73,743
Pool #RJ1859 6.000% 6/01/54		323,182		326,954
Pool #RJ1975 6.000% 7/01/54		159,008		160,864
Pool #SD4694 6.500% 1/01/54		121,713		125,208
Pool #SD5958 6.500% 8/01/54		238,920		245,875
Pool #SD6628 6.500% 8/01/54		324,150		333,409
Pool #QJ5819 6.500% 9/01/54		128,922		132,137
Pool #SD5620 7.000% 6/01/54		138,209		143,994
Federal National Mortgage Association
Pool #MA4581 1.500% 4/01/37		563,072		483,611
Pool #MA4519 1.500% 1/01/42		516,567		414,382
Pool #BP3454 2.000% 5/01/36		412,175		365,480
Pool #BT6754 2.000% 9/01/36		351,247		310,795
Pool #FM8732 2.000% 9/01/36		247,591		220,624
Pool #MA4567 2.000% 3/01/37		1,723,390		1,525,455
Pool #MA4602 2.000% 5/01/37		349,218		308,782
Pool #FS7471 2.000% 3/01/38		426,085		377,148
Pool #MA4570 2.000% 3/01/42		186,400		154,645
Pool #MA4586 2.000% 4/01/42		878,612		728,933
Pool #FS2763 2.000% 8/01/42		42,489		35,251
Pool #FS5191 2.000% 8/01/42		49,218		40,834
Pool #CA6587 2.000% 8/01/50		101,362		79,723
Pool #MA4158 2.000% 10/01/50		242,964		190,336
Pool #MA4208 2.000% 12/01/50		2,174,027		1,700,398
Pool #MA4237 2.000% 1/01/51		505,055		395,025
Pool #MA4255 2.000% 2/01/51		1,526,436		1,193,890
Pool #MA4281 2.000% 3/01/51		973,317		761,272
Pool #MA4305 2.000% 4/01/51		1,542,835		1,204,305
Pool #MA4325 2.000% 5/01/51		3,054,058		2,383,935
Pool #CB2357 2.000% 12/01/51		1,043,399		816,738
Pool #MA4511 2.000% 1/01/52		344,090		267,729
Pool #CB2766 2.000% 2/01/52		324,996		254,396
Pool #CB2848 2.000% 2/01/52		523,248		409,581
Pool #FS0733 2.000% 2/01/52		456,396		359,676
Pool #MA4547 2.000% 2/01/52		452,556		352,125
Pool #FS1618 2.000% 3/01/52		241,074		189,985
Pool #MA4562 2.000% 3/01/52		696,532		541,957
Pool #FS1571 2.000% 4/01/52		23,363		18,178
Pool #MA4622 2.000% 6/01/52		635,294		494,111
Pool #BM3859 2.500% 8/01/31		63,844		60,531
Pool #BC9043 2.500% 11/01/31		187,848		177,888
Pool #BM1890 2.500% 1/01/32		43,823		41,723
Pool #FS4477 2.500% 5/01/37		588,674		537,521
Pool #FS7780 2.500% 5/01/37		249,278		227,617
Pool #CB4726 2.500% 9/01/37		112,137		101,902
Pool #FS4054 2.500% 2/01/38		41,199		37,413
Pool #MA4078 2.500% 7/01/50		25,116		20,615
Pool #CA7026 2.500% 9/01/50		1,196,409		993,585
Pool #MA4326 2.500% 5/01/51		810,039		663,096
Pool #BT0163 2.500% 6/01/51		42,675		35,467
Pool #MA4379 2.500% 7/01/51		499,676		409,033
Pool #CB1331 2.500% 8/01/51		632,639		519,063
Pool #CB1280 2.500% 8/01/51		56,213		46,122
Pool #CB1866 2.500% 10/01/51		996,060		818,797

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #CB2045 2.500% 11/01/51	$	40,549	$	33,510
Pool #CB2635 2.500% 1/01/52		1,068,864		875,638
Pool #CB2538 2.500% 1/01/52		947,438		780,604
Pool #CB2638 2.500% 1/01/52		1,120,993		919,745
Pool #MA4512 2.500% 1/01/52		27,344		22,315
Pool #FS5037 2.500% 2/01/52		253,718		207,455
Pool #CB2804 2.500% 2/01/52		643,211		529,948
Pool #FS2573 2.500% 3/01/52		73,915		61,107
Pool #FS4283 2.500% 3/01/52		52,903		43,406
Pool #MA4598 2.500% 5/01/52		428,757		349,372
Pool #FS2477 2.500% 5/01/52		800,168		657,766
Pool #MA4623 2.500% 6/01/52		244,188		198,976
Pool #AS7056 3.000% 4/01/31		137,917		132,606
Pool #BM5111 3.000% 11/01/33		69,249		66,091
Pool #CA4885 3.000% 12/01/34		270,469		254,415
Pool #BO7256 3.000% 1/01/35		139,561		131,146
Pool #FM2547 3.000% 2/01/35		83,356		78,330
Pool #FM8540 3.000% 11/01/35		139,833		133,793
Pool #AL9412 3.000% 11/01/36		166,123		152,425
Pool #FS7636 3.000% 4/01/37		202,931		194,255
Pool #CA5597 3.000% 4/01/40		283,184		256,295
Pool #MA4632 3.000% 6/01/42		26,589		23,533
Pool #MA4695 3.000% 7/01/42		157,449		139,202
Pool #BM4221 3.000% 1/01/43		106,763		94,550
Pool #BM5468 3.000% 2/01/43		158,219		140,144
Pool #AB9248 3.000% 5/01/43		39,122		34,673
Pool #AU1629 3.000% 7/01/43		11,434		10,110
Pool #AS0406 3.000% 9/01/43		63,802		56,494
Pool #BM5469 3.000% 3/01/44		291,593		258,115
Pool #BM3380 3.000% 6/01/46		261,127		229,737
Pool #MA2806 3.000% 11/01/46		176,115		152,623
Pool #AS8295 3.000% 11/01/46		224,454		196,197
Pool #FM1000 3.000% 4/01/47		147,069		127,451
Pool #MA2956 3.000% 4/01/47		114,749		99,371
Pool #BM4744 3.000% 6/01/47		100,266		87,643
Pool #FM5499 3.000% 2/01/49		137,012		118,735
Pool #FM1445 3.000% 8/01/49		98,469		85,488
Pool #CA4108 3.000% 9/01/49		624,066		540,821
Pool #CA5540 3.000% 4/01/50		11,685		10,075
Pool #CA6314 3.000% 7/01/50		172,330		147,027
Pool #BQ1348 3.000% 8/01/50		96,092		82,554
Pool #CA6738 3.000% 8/01/50		191,726		164,713
Pool #BQ5052 3.000% 9/01/50		6,536		5,619
Pool #FM7072 3.000% 4/01/51		572,131		492,953
Pool #FS1538 3.000% 4/01/52		858,210		733,541
Pool #FM3462 3.500% 12/01/33		212,318		203,961
Pool #AS4449 3.500% 2/01/35		75,132		70,814
Pool #FM3340 3.500% 5/01/35		5,769		5,534
Pool #FM8137 3.500% 9/01/35		60,873		58,477
Pool #MA1283 3.500% 12/01/42		33,834		30,760
Pool #MA1373 3.500% 3/01/43		51,384		46,668
Pool #MA1437 3.500% 5/01/43		46,829		42,483
Pool #MA1546 3.500% 8/01/43		115,397		104,661
Pool #AL6167 3.500% 1/01/44		455,793		414,056
Pool #AS5182 3.500% 6/01/45		291,613		263,373
Pool #BC1747 3.500% 1/01/46		719,223		648,897
Pool #FS1400 3.500% 7/01/47		20,204		18,548
Pool #BM4582 3.500% 8/01/47		86,938		78,519

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #BM3122 3.500% 10/01/47	$	276,332	$	249,312
Pool #CA0858 3.500% 12/01/47		40,295		36,166
Pool #MA3238 3.500% 1/01/48		174,684		156,784
Pool #BH9277 3.500% 2/01/48		306,808		275,179
Pool #FM1001 3.500% 11/01/48		36,602		32,886
Pool #FM3972 3.500% 7/01/50		214,010		190,142
Pool #FM8086 3.500% 7/01/51		98,108		86,737
Pool #MA4514 3.500% 1/01/52		425,220		378,061
Pool #BV3533 3.500% 2/01/52		34,090		30,278
Pool #FS1694 4.000% 7/01/35		90,209		87,525
Pool #FS1883 4.000% 6/01/37		104,964		101,152
Pool #BF0198 4.000% 11/01/40		80,039		76,577
Pool #MA0639 4.000% 2/01/41		262,908		248,465
Pool #FS1042 4.000% 9/01/45		422,383		398,469
Pool #FM2673 4.000% 10/01/45		653,961		616,147
Pool #AL8387 4.000% 3/01/46		467,586		435,922
Pool #FS2119 4.000% 3/01/46		76,373		72,005
Pool #MA3088 4.000% 8/01/47		25,231		23,396
Pool #MA3121 4.000% 9/01/47		232,799		215,871
Pool #MA3467 4.000% 9/01/48		3,248		3,006
Pool #BM5527 4.000% 10/01/48		84,357		78,355
Pool #BM5147 4.000% 10/01/48		19,764		18,414
Pool #FM3664 4.000% 3/01/49		308,116		284,940
Pool #CA3503 4.000% 5/01/49		43,176		39,915
Pool #CA4571 4.000% 11/01/49		66,096		61,042
Pool #CA4823 4.000% 12/01/49		82,619		76,301
Pool #FS1792 4.000% 5/01/52		182,278		167,315
Pool #CB4379 4.000% 8/01/52		194,457		177,871
Pool #MA4804 4.000% 11/01/52		29,548		27,009
Pool #MA4839 4.000% 12/01/52		164,341		150,220
Pool #AL0065 4.500% 4/01/41		152,234		147,875
Pool #AI1888 4.500% 5/01/41		171,321		166,356
Pool #AL0160 4.500% 5/01/41		214,759		208,726
Pool #AL6536 4.500% 3/01/45		235,327		226,991
Pool #BM4185 4.500% 9/01/46		124,458		119,971
Pool #FM2899 4.500% 11/01/46		270,606		263,156
Pool #FM5708 4.500% 5/01/47		136,990		133,001
Pool #BM3148 4.500% 11/01/47		116,534		111,824
Pool #BM4343 4.500% 5/01/48		111,489		106,948
Pool #CA2207 4.500% 8/01/48		25,996		24,783
Pool #CA5186 4.500% 1/01/50		24,059		22,914
Pool #CA5696 4.500% 5/01/50		57,417		54,647
Pool #FS4297 4.500% 2/01/51		187,965		179,192
Pool #MA4656 4.500% 7/01/52		592,675		558,901
Pool #MA4805 4.500% 11/01/52		188,309		177,461
Pool #FS5865 4.500% 1/01/53		486,351		458,332
Pool #AD6438 5.000% 6/01/40		36,910		36,816
Pool #FM8543 5.000% 11/01/44		160,034		159,558
Pool #AL9893 5.000% 2/01/45		210,296		209,435
Pool #FM4212 5.000% 12/01/47		307,973		308,020
Pool #FS1510 5.000% 10/01/48		241,280		240,910
Pool #FS2620 5.000% 8/01/52		40,310		39,066
Pool #BW7752 5.000% 10/01/52		86,453		83,622
Pool #BY0545 5.000% 5/01/53		365,167		352,466
Pool #BY4131 5.000% 7/01/53		145,337		140,304
Pool #MA5071 5.000% 7/01/53		612,953		591,922
Pool #FS7303 5.000% 7/01/53		207,668		200,543
Pool #CB7095 5.000% 9/01/53		302,379		292,854

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #BM3279 5.500% 5/01/44	$	472,503	$	483,200
Pool #CB5294 5.500% 11/01/52		683,873		678,531
Pool #MA4941 5.500% 3/01/53		232,302		229,543
Pool #FS5115 5.500% 6/01/53		9,163		9,060
Pool #DA0007 5.500% 9/01/53		232,672		230,055
Pool #FA0048 5.500% 9/01/53		14,477		14,378
Pool #CB7333 5.500% 10/01/53		282,487		280,192
Pool #CB7985 5.500% 2/01/54		230,044		228,103
Pool #CB7982 5.500% 2/01/54		199,708		197,836
Pool #CB8483 5.500% 5/01/54		26,097		25,885
Pool #CB8485 5.500% 5/01/54		274,289		272,233
Pool #BM4971 6.000% 7/01/41		143,633		148,962
Pool #FS3820 6.000% 1/01/53		638,618		648,866
Pool #CB5702 6.000% 2/01/53		722,523		734,118
Pool #FS5460 6.000% 5/01/53		125,518		127,532
Pool #CB7120 6.000% 9/01/53		229,597		232,134
Pool #MA5247 6.000% 1/01/54		1,433,570		1,440,895
Pool #CB8772 6.000% 6/01/54		355,737		357,666
Pool #FS8793 6.000% 8/01/54		112,505		113,266
Pool #CB9011 6.000% 8/01/54		533,120		539,259
Pool #CB7346 6.500% 10/01/53		84,179		86,597
Pool #CB7523 6.500% 11/01/53		174,866		179,397
Pool #FS6347 6.500% 11/01/53		618,490		636,252
Pool #CB7866 6.500% 1/01/54		204,887		210,707
Pool #MA5273 6.500% 2/01/54		473,099		483,323
Pool #CB8226 6.500% 3/01/54		9,413		9,682
Pool #CB8505 6.500% 5/01/54		465,691		479,393
Pool #MA5499 6.500% 10/01/54		221,605		226,273
Pool #CB8198 7.000% 3/01/54		138,935		144,794
Government National Mortgage Association Pool #AA5821 3.000% 11/15/42		32,897		29,201
Government National Mortgage Association II
Pool #MA7736 1.500% 12/20/36		55,328		47,658
Pool #MA7796 1.500% 1/20/37		74,489		64,163
Pool #MA8015 1.500% 5/20/37		130,616		112,510
Pool #MA7135 2.000% 1/20/51		1,725,106		1,378,887
Pool #MA7192 2.000% 2/20/51		192,069		153,581
Pool #MA7254 2.000% 3/20/51		445,451		356,191
Pool #MA7471 2.000% 7/20/51		1,113,410		890,303
Pool #MA7826 2.000% 1/20/52		425,391		339,884
Pool #MA7935 2.000% 3/20/52		700,991		560,087
Pool #MA6819 2.500% 8/20/50		269,094		225,267
Pool #MA7312 2.500% 4/20/51		330,589		276,126
Pool #MA7589 2.500% 9/20/51		1,336,523		1,115,501
Pool #MA7649 2.500% 10/20/51		2,104,596		1,756,557
Pool #MA7705 2.500% 11/20/51		531,224		443,209
Pool #MA7936 2.500% 3/20/52		882,569		736,342
Pool #MA2600 3.000% 2/20/45		64,448		56,637
Pool #MA2891 3.000% 6/20/45		526,620		462,788
Pool #MA3662 3.000% 5/20/46		83,773		73,593
Pool #MA3802 3.000% 7/20/46		40,031		35,166
Pool #MA3873 3.000% 8/20/46		233,386		205,024
Pool #MA4195 3.000% 1/20/47		283,293		248,778
Pool #MA6144 3.000% 9/20/49		11,161		9,515
Pool #MA6209 3.000% 10/20/49		70,562		60,157
Pool #MA6399 3.000% 1/20/50		37,459		31,760
Pool #MA6531 3.000% 3/20/50		116,722		98,963
Pool #MA6589 3.000% 4/20/50		54,260		46,004

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #MA6757 3.000% 7/20/50	$	93,034	$	78,879
Pool #MA7473 3.000% 7/20/51		660,976		573,474
Pool #MA7650 3.000% 10/20/51		1,155,883		1,002,864
Pool #MA8098 3.000% 6/20/52		170,368		147,655
Pool #MA0318 3.500% 8/20/42		131,348		120,679
Pool #MA0852 3.500% 3/20/43		93,617		85,880
Pool #783802 3.500% 4/20/43		14,115		12,908
Pool #MA1012 3.500% 5/20/43		279,069		254,780
Pool #MA1090 3.500% 6/20/43		110,374		101,178
Pool #785587 3.500% 12/20/44		187,789		171,918
Pool #AL1773 3.500% 1/20/45		132,167		119,525
Pool #MA3173 3.500% 10/20/45		180,889		164,039
Pool #MA3310 3.500% 12/20/45		59,527		53,963
Pool #MA3597 3.500% 4/20/46		87,990		79,738
Pool #MA3663 3.500% 5/20/46		67,885		61,519
Pool #MA3736 3.500% 6/20/46		183,527		166,316
Pool #MA3803 3.500% 7/20/46		13,230		11,990
Pool #MA3937 3.500% 9/20/46		87,594		79,380
Pool #786092 3.500% 1/20/47		122,827		111,386
Pool #MA4586 3.500% 7/20/47		30,090		27,202
Pool #784346 3.500% 7/20/47		20,237		18,320
Pool #MA4719 3.500% 9/20/47		10,518		9,509
Pool #BC1919 3.500% 9/20/47		41,192		37,033
Pool #MA4900 3.500% 12/20/47		144,456		130,503
Pool #784793 3.500% 12/20/47		5,398		4,863
Pool #784472 3.500% 2/20/48		238,911		215,834
Pool #785087 3.500% 2/20/48		481,234		436,105
Pool #785327 3.500% 10/20/49		54,112		48,788
Pool #MA3245 4.000% 11/20/45		128,322		119,823
Pool #MA4511 4.000% 6/20/47		78,584		73,183
Pool #MA4720 4.000% 9/20/47		278,988		259,551
Pool #MA4838 4.000% 11/20/47		68,977		64,171
Pool #MA6934 4.000% 10/20/50		657,633		610,172
Pool #MA8346 4.000% 10/20/52		997,668		920,367
Pool #5234 4.500% 11/20/41		110,341		107,425
Pool #MA2894 4.500% 6/20/45		116,990		113,032
Pool #MA2963 4.500% 7/20/45		45,465		43,927
Pool #MA3312 4.500% 12/20/45		2,203		2,129
Pool #MA4588 4.500% 7/20/47		206,289		198,472
Pool #MA4654 4.500% 8/20/47		32,580		31,346
Pool #MA5079 4.500% 3/20/48		49,018		47,084
Pool #MA5265 4.500% 6/20/48		169		162
Pool #MA5399 4.500% 8/20/48		41,206		39,349
Pool #MA5711 4.500% 1/20/49		66,821		63,767
Pool #786255 4.500% 9/20/49		63,382		60,723
Pool #MA8347 4.500% 10/20/52		717,594		679,917
Pool #MA4781 5.000% 10/20/47		228,370		227,164
Pool #MA5194 5.000% 5/20/48		44,723		44,152
Pool #BF2644 5.000% 5/20/48		4,471		4,398
Pool #BF2878 5.000% 6/20/48		15,101		14,856
Pool #MA5266 5.000% 6/20/48		313,403		309,006
Pool #MA5988 5.000% 6/20/49		127,127		124,947
Pool #MA6042 5.000% 7/20/49		182,677		179,772
Pool #MA5081 5.500% 3/20/48		34,757		35,302
Pool #MA5140 5.500% 4/20/48		26,256		26,669
Pool #MA5195 5.500% 5/20/48		77,829		79,317
Pool #MA5469 5.500% 9/20/48		307		312
Pool #MA5531 5.500% 10/20/48		7,156		7,264

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #MA5598 5.500% 11/20/48	$	35,562	$	36,097
Pool #MA5654 5.500% 12/20/48		95,149		96,581
Pool #MA5713 5.500% 1/20/49		24,269		24,543
Pool #MA5820 5.500% 3/20/49		25,840		26,261
Pool #MA8271 6.000% 9/20/52		161,558		162,732
Pool #MA8350 6.000% 10/20/52		96,072		96,800
Pool #MA8430 6.000% 11/20/52		176,308		177,645
Government National Mortgage Association II, TBA
5.000% 1/20/55 (k)		730,000		708,012
5.500% 1/20/55 (k)		1,775,000		1,759,112
6.000% 1/20/55 (k)		330,000		332,037
Uniform Mortgage-Backed Security, TBA 3.500% 1/01/55 (k)		850,000		751,055
				93,492,724
Whole Loans — 0.0%
Federal National Mortgage Association Connecticut Avenue Securities, Series 2017-C06, Class 1M2B, 30 day USD SOFR Average + 2.764%
7.333% FRN 2/25/30		76,340		76,775
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $100,864,043)				94,073,182
U.S. TREASURY OBLIGATIONS — 24.0%
U.S. Treasury Bonds & Notes — 24.0%
U.S. Treasury Bonds
1.125% 5/15/40		420,000		252,885
3.375% 8/15/42		9,575,000		7,903,735
3.875% 2/15/43		3,020,000		2,665,830
4.000% 11/15/42		8,030,000		7,227,089
4.250% 2/15/54		3,605,000		3,288,662
4.250% 8/15/54 (d)		6,730,000		6,157,482
4.500% 2/15/44		4,390,000		4,194,508
4.500% 11/15/54		6,000,000		5,730,019
U.S. Treasury Notes
0.625% 8/15/30		835,000		678,385
1.500% 1/31/27 (l)		22,645,000		21,417,055
3.125% 8/31/27		2,660,000		2,583,827
3.625% 8/31/29		1,775,000		1,719,226
3.875% 11/30/27		1,100,000		1,087,901
3.875% 8/15/34		1,725,000		1,632,335
4.000% 7/31/29		2,290,000		2,254,636
4.000% 10/31/29 (d)		710,000		698,261
4.125% 9/30/27		5,655,000		5,634,554
4.125% 10/31/27		1,400,000		1,394,691
4.125% 10/31/29		7,585,000		7,500,231
4.375% 12/31/29		2,535,000		2,534,195
4.375% 5/15/34		16,715,000		16,469,221
4.500% 11/15/33		345,000		343,644
4.625% 9/15/26		3,728,400		3,750,863
4.625% 10/15/26		11,900,000		11,974,520

MassMutual Select T. Rowe Price Bond Asset Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.625% 9/30/28	$	3,140,000	$	3,169,931
				122,263,686
TOTAL U.S. TREASURY OBLIGATIONS (Cost $126,079,914)				122,263,686
TOTAL BONDS & NOTES (Cost $508,740,487)				485,174,559
TOTAL PURCHASED OPTIONS(#) — 0.2% (Cost $975,526)				1,080,873
TOTAL LONG-TERM INVESTMENTS (Cost $509,716,013)				486,255,432
		Number of Shares
SHORT-TERM INVESTMENTS — 5.0%
Investment of Cash Collateral from Securities Loaned — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (m)		301,980		301,980
Mutual Fund — 1.4%
T. Rowe Price Government Reserve Investment Fund, 2.481% (p)		7,127,968		7,127,968
		Principal Amount
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (n)	$	1,572,736		1,572,736
Sovereign Debt Obligations — 1.3%
Canadian Treasury Bills
3.440% 3/12/25 CAD (c) (o)		6,285,000		4,345,524
3.451% 2/27/25 CAD (c) (o)		2,000,000		1,384,368
Egypt Treasury Bills
28.499% 3/11/25 EGP (c) (o)		1,900,000		35,519
28.500% 3/11/25 EGP (c) (o)		1,950,000		36,453
28.600% 3/04/25 EGP (c) (o)		6,675,000		125,450
29.000% 3/18/25 EGP (c) (o)		11,000,000		204,555
31.400% 3/18/25 EGP (c) (o)		19,000,000		353,324
				6,485,193
U.S. Treasury Bills — 1.9%
U.S. Treasury Bills
4.519% 1/30/25 (o)		6,974,000		6,951,124
4.541% 2/27/25 (o)		2,780,000		2,761,735
				9,712,859
TOTAL SHORT-TERM INVESTMENTS (Cost $25,377,721)				25,200,736
TOTAL INVESTMENTS — 100.5% (Cost $535,093,734) (q)				511,456,168
Other Assets/(Liabilities) — (0.5)%				(2,729,889)
NET ASSETS — 100.0%			$	508,726,279

Abbreviation Legend

CDOR Canadian Dollar Offered Rate

CLO Collateralized Loan Obligation

CMT Constant Maturity Treasury Index

EURIBOR Euro Inter-Bank Offered Rate

FRN Floating Rate Note^

ICE Inter-Continental Exchange

OAT Obligations Assimilables du Tresor

REMICS Real Estate Mortgage Investment Conduits

SOFR Secured Overnight Financing Rate

SONIA Sterling Overnight Index Average

STEP	Step Coupon Bond
STRIPS	Separate Trading of Registered Interest and Principal of Securities

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 December 31, 2024, 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 December 31, 2024, the aggregate market value of these securities amounted to $128,928,550 or 25.34% of net assets.

(c) The principal amount of the security is in foreign currency. The market value is in U.S. dollars.

(d) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2024, was $7,827,405 or 1.54% of net assets. The Fund received $7,716,384 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).

(e) Security is perpetual and has no stated maturity date.

(f) Investment is valued using significant unobservable inputs.

(g) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $100,004 or 0.02% of net assets.

(h) 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 December 31, 2024, these securities amounted to a value of $373,686 or 0.07% of net assets.

(i) 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 December 31, 2024.

(j) 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.

(k) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis.

(l) All or a portion of this security is pledged/held as collateral for open derivatives.

(m) Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2024. (Note 2).

(n) Maturity value of $1,572,976. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,604,393.

(o) The rate shown represents yield-to-maturity.

(p)	Rate disclosed is the 7-day net yield as of December 31, 2024.
(q)	See Note 3 for aggregate cost for federal tax purposes.

^ Floating rate or variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(#) OTC Options Purchased
Description	Counterparty	Expiration Date		Exercise Price		No. of Contracts		Notional Amount		Value		Premiums Paid/(Received)		Unrealized Appreciation (Depreciation)
Call
USD Call SGD Put	Bank of America N.A.		2/06/25		1.36		1,365,000	USD	1,365,000	$	9,517	$	8,190	$	1,327
USD Call GBP Put	Bank of America N.A.		12/16/25		1.27		3,450,000	USD	3,450,000		131,121		108,561		22,560
USD Call CAD Put	Bank of America N.A.		12/16/25		1.40		3,450,000	USD	3,450,000		101,223		79,264		21,959
USD Call SGD Put	HSBC Bank USA		2/06/25		1.36		688,000	USD	688,000		4,797		4,851		(54)
USD Call PLN Put	HSBC Bank USA		2/27/25		4.26		683,000	USD	683,000		5,113		8,389		(3,276)
USD Call CNH Put	HSBC Bank USA		5/08/25		7.30		1,025,000	USD	1,025,000		16,534		11,501		5,033
USD Call SGD Put	Morgan Stanley & Co. LLC		2/06/25		1.36		1,380,000	USD	1,380,000		9,621		5,782		3,839
USD Call CNH Put	Morgan Stanley & Co. LLC		2/06/25		7.25		1,361,000	USD	1,361,000		20,745		10,948		9,797
USD Call CNH Put	Morgan Stanley & Co. LLC		5/08/25		7.30		2,041,000	USD	2,041,000		32,923		14,613		18,310
										$	331,594	$	252,099	$	79,495
Put
USD Put GBP Call	Bank of America N.A.		12/16/25		1.27		3,450,000	USD	3,450,000	$	83,973	$	108,561	$	(24,588)
USD Put CAD Call	Bank of America N.A.		12/16/25		1.40		3,450,000	USD	3,450,000		68,172		79,160		(10,988)
										$	152,145	$	187,721	$	(35,576)
										$	483,739	$	439,820	$	43,919

(#) 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, 12/20/29

Morgan Stanley & Co. LLC

2/19/25

0.65

Fixed 1.000%

Quarterly

iTraxx Europe Series 42†

Quarterly

EUR

6,600,000

$

7,495

$

5,595

$

1,900

Sell Protection on 5-Year Credit Default Swap, 12/20/29

Morgan Stanley & Co. LLC

2/19/25

3.25

Fixed 5.000%

Quarterly

iTraxx Crossover Europe Series 42†

Quarterly

EUR

1,975,000

15,890

12,713

3,177

$

23,385

$

18,308

$

5,077

(#) Interest Rate Swaptions Purchased
			Paid by Fund		Received by Fund
Description	Counterparty	Expiration Date	Rate	Frequency	Rate	Frequency	Notional Amount		Value		Premium Paid/ (Received)		Unrealized Appreciation (Depreciation)
Call
10-Year Interest Rate Swap, 12/18/36	Citibank N.A.	12/16/26	6-Month EURIBOR	Semi-Annually	2.27%##	Annually	EUR	3,290,000	$	97,967	$	121,995	$	(24,028)
10-Year Interest Rate Swap, 12/18/36	Citibank N.A.	12/16/26	6-Month EURIBOR	Semi-Annually	2.28%##	Annually	EUR	3,290,000		98,894		120,585		(21,691)
										196,861		242,580		(45,719)
Put
10-Year Interest Rate Swap, 12/18/36	Citibank N.A.	12/16/26	2.27%##	Annually	6-Month EURIBOR	Semi-Annually	EUR	3,290,000	$	144,881	$	121,995	$	22,886
10-Year Interest Rate Swap, 12/18/36	Citibank N.A.	12/16/26	2.28%##	Annually	6-Month EURIBOR	Semi-Annually	EUR	3,290,000		143,778		120,584		23,194
30-Year Interest Rate Swap, 3/17/2055	Morgan Stanley & Co. LLC	3/13/25	4.00%##	Annually	12-Month USD SOFR	Annually	USD	3,980,000		88,229		32,238		55,991
										376,888		274,817		102,071
									$	573,749	$	517,397	$	56,352

Credit Default Index Swaptions Written

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)

Call

Buy Protection on 5-Year Credit Default Swap, 12/20/29

Morgan Stanley & Co. LLC

2/19/25

0.53%

iTraxx Europe Series 42†

Quarterly

Fixed 1.000%

Quarterly

EUR

6,600,000

$

(2,213)

$

(6,811)

$

4,598

Buy Protection on 5-Year Credit Default Swap, 12/20/29

Morgan Stanley & Co. LLC

2/19/25

2.88%

iTraxx Crossover Europe Series 42†

Quarterly

Fixed 5.000%

Quarterly

EUR

1,975,000

(2,045)

(7,669)

5,624

$

(4,258)

$

(14,480)

$

10,222

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Bank of America N.A.	1/16/25	TRY	19,444,000	USD	514,460	$	28,303
Bank of America N.A.	1/16/25	USD	206,256	TRY	7,863,000		(13,233)
Bank of America N.A.	1/17/25	HUF	282,274,000	USD	751,448		(41,274)
Bank of America N.A.	1/17/25	USD	1,368,569	RON	6,318,000		53,751
Bank of America N.A.	1/17/25	USD	686,366	ZAR	12,659,000		16,434
Bank of America N.A.	1/24/25	JPY	98,825,000	USD	657,062		(27,715)
Bank of America N.A.	1/24/25	CZK	16,339,000	USD	700,350		(28,521)
Bank of America N.A.	1/24/25	NZD	17,000	USD	10,188		(675)
Bank of America N.A.	1/24/25	USD	16,084,712	EUR	15,218,400		307,581
Bank of America N.A.	1/24/25	CAD	1,204,372	USD	851,738		(13,223)
Bank of America N.A.	1/24/25	EUR	637,000	USD	663,069		(2,682)
Bank of America N.A.	1/24/25	USD	203,429	AUD	313,000		9,694
Bank of America N.A.	1/24/25	USD	76,951	NOK	869,000		615
Bank of America N.A.	2/14/25	PLN	1,398,000	USD	345,766		(7,787)
Bank of America N.A.	2/14/25	USD	1,018,081	PLN	4,147,000		15,508
Bank of America N.A.	3/07/25	THB	23,427,000	USD	691,062		(1,082)
Bank of America N.A.	3/07/25	MYR	2,992,000	USD	678,320		(7,658)
Bank of America N.A.	3/07/25	USD	2,414,245	MYR	10,737,735		7,365
Bank of America N.A.	3/14/25	USD	355,789	CNH	2,596,000		1,429
Barclays Bank PLC	1/16/25	USD	178,745	TRY	6,467,000		(1,775)
Barclays Bank PLC	1/16/25	TRY	4,700,000	USD	123,369		7,827

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Barclays Bank PLC	1/17/25	USD	1,105,279	ZAR	19,511,464		72,704
Barclays Bank PLC	1/17/25	ZAR	18,608,964	USD	1,035,705		(50,892)
Barclays Bank PLC	1/17/25	USD	68,374	IDR	1,087,138,796		862
Barclays Bank PLC	1/24/25	CHF	8,000	USD	9,313		(480)
Barclays Bank PLC	1/24/25	NZD	97,000	USD	57,845		(3,568)
Barclays Bank PLC	1/24/25	JPY	222,753,565	USD	1,468,365		(49,803)
Barclays Bank PLC	1/24/25	USD	9,432,560	JPY	1,397,009,234		535,984
Barclays Bank PLC	1/24/25	USD	24,499	CHF	21,000		1,313
Barclays Bank PLC	1/24/25	USD	112,202	CZK	2,682,469		1,904
Barclays Bank PLC	1/24/25	USD	18,106	AUD	28,942		192
Barclays Bank PLC	2/21/25	GBP	776,000	USD	980,805		(9,704)
Barclays Bank PLC	2/21/25	USD	67,634	EUR	64,000		1,203
Barclays Bank PLC	2/21/25	USD	7,928,258	GBP	6,287,250		60,278
Barclays Bank PLC	2/28/25	USD	38,234	SEK	417,000		429
Barclays Bank PLC	3/07/25	USD	57,685	COP	255,298,271		232
Barclays Bank PLC	3/14/25	USD	3,431,668	CNH	24,233,466		123,743
BNP Paribas SA	1/17/25	PEN	293,000	USD	78,835		(894)
BNP Paribas SA	1/17/25	HUF	198,823,697	USD	540,637		(40,417)
BNP Paribas SA	1/17/25	USD	364,904	ZAR	6,485,657		21,674
BNP Paribas SA	1/17/25	ZAR	4,268,042	USD	235,205		(9,334)
BNP Paribas SA	1/17/25	USD	168,179	INR	14,303,249		1,361
BNP Paribas SA	1/17/25	USD	994,828	PEN	3,753,000		(3,520)
BNP Paribas SA	1/24/25	CAD	20,000	USD	14,517		(592)
BNP Paribas SA	1/24/25	USD	6,994,801	CAD	9,636,826		285,393
BNP Paribas SA	1/24/25	USD	17,586	AUD	26,718		1,048
BNP Paribas SA	1/24/25	USD	372,726	JPY	56,251,629		14,499
BNP Paribas SA	1/24/25	USD	303,502	CZK	7,250,728		5,365
BNP Paribas SA	2/14/25	USD	702,292	PLN	2,840,768		15,512
BNP Paribas SA	2/14/25	PLN	2,728,000	USD	674,396		(14,879)
BNP Paribas SA	2/21/25	GBP	41,069	USD	52,382		(987)
BNP Paribas SA	2/21/25	EUR	368,454	USD	389,671		(7,225)
BNP Paribas SA	2/21/25	USD	16,936,238	EUR	16,007,606		320,737
BNP Paribas SA	3/07/25	USD	1,134,848	THB	39,206,542		(19,876)
BNP Paribas SA	3/14/25	CNH	6,484,583	USD	925,021		(39,860)
BNP Paribas SA	3/14/25	USD	2,040,210	CNH	14,511,000		59,424
Citibank N.A.	1/16/25	USD	339,860	EGP	17,428,000		(1,084)
Citibank N.A.	1/17/25	USD	1,467,713	IDR	22,730,906,896		56,100
Citibank N.A.	1/17/25	USD	511,658	ZAR	9,052,832		32,569
Citibank N.A.	1/17/25	USD	646,245	HUF	253,483,000		8,506
Citibank N.A.	1/17/25	RON	6,318,000	USD	1,341,800		(26,982)
Citibank N.A.	1/17/25	USD	702,691	PEN	2,632,000		2,544
Citibank N.A.	1/24/25	AUD	2,143,183	USD	1,428,812		(102,264)
Citibank N.A.	1/24/25	JPY	1,574,000	USD	10,255		(232)
Citibank N.A.	1/24/25	MXN	27,777,123	USD	1,339,752		(12,503)
Citibank N.A.	1/24/25	USD	43,332	JPY	6,465,000		2,161
Citibank N.A.	1/24/25	USD	2,085,338	CAD	2,894,290		70,258
Citibank N.A.	1/24/25	USD	630,027	CZK	15,032,052		11,937
Citibank N.A.	1/24/25	USD	1,725,999	CHF	1,535,000		31,199
Citibank N.A.	1/24/25	USD	318,220	MXN	6,547,000		5,390
Citibank N.A.	1/24/25	USD	134,256	AUD	215,000		1,179
Citibank N.A.	2/14/25	USD	327,611	PLN	1,342,914		2,950
Citibank N.A.	2/21/25	EUR	37,002	USD	39,052		(645)
Citibank N.A.	2/21/25	USD	30,479	GBP	24,000		445
Citibank N.A.	2/28/25	USD	589,333	SEK	6,453,170		4,286
Citibank N.A.	3/04/25	EGP	2,595,000	USD	49,665		124
Citibank N.A.	3/07/25	USD	1,633,494	COP	7,250,947,921		1,732
Citibank N.A.	3/12/25	EGP	8,701,000	USD	155,542		10,907
Citibank N.A.	3/21/25	EUR	329,000	USD	343,516		(1,553)
Deutsche Bank AG	1/17/25	USD	92,966	INR	7,844,779		1,473
Deutsche Bank AG	1/24/25	JPY	3,941,000	USD	26,647		(1,550)
Deutsche Bank AG	1/24/25	NOK	9,843,000	USD	902,626		(37,986)
Deutsche Bank AG	1/24/25	AUD	104,000	USD	68,451		(4,079)
Deutsche Bank AG	1/24/25	USD	26,785	AUD	40,000		2,026
Deutsche Bank AG	1/24/25	USD	650,153	NOK	7,227,000		15,311
Deutsche Bank AG	1/24/25	USD	45,075	CAD	64,000		517
Deutsche Bank AG	1/24/25	USD	85,106	NZD	145,000		3,971
Deutsche Bank AG	1/24/25	USD	89,946	JPY	14,028,000		611
Deutsche Bank AG	2/21/25	EUR	1,643,536	USD	1,731,079		(25,128)
Deutsche Bank AG	2/21/25	USD	8,343,313	EUR	7,879,569		164,514
Deutsche Bank AG	2/28/25	USD	41,655	SEK	456,275		289
Deutsche Bank AG	3/21/25	USD	16,141,163	EUR	15,218,610		322,901

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Goldman Sachs International	1/17/25	USD	76,121	INR	6,414,053		1,315
Goldman Sachs International	1/17/25	USD	1,254,096	IDR	19,092,713,458		68,419
Goldman Sachs International	1/17/25	USD	2,070,265	TWD	66,056,000		52,970
Goldman Sachs International	1/24/25	USD	38,751	CAD	54,000		1,154
Goldman Sachs International	1/24/25	USD	35,063	AUD	55,000		1,020
Goldman Sachs International	2/21/25	USD	27,633	GBP	22,000		102
Goldman Sachs International	2/21/25	EUR	147,000	USD	155,136		(2,554)
Goldman Sachs International	2/21/25	GBP	771,300	USD	975,639		(10,421)
Goldman Sachs International	2/28/25	USD	30,259	SEK	332,000		160
Goldman Sachs International	3/06/25	USD	997,988	BRL	5,954,155		45,125
Goldman Sachs International	3/07/25	USD	1,022,007	THB	35,346,552		(19,032)
Goldman Sachs International	3/14/25	CNH	9,559,000	USD	1,379,744		(74,918)
Goldman Sachs International	3/21/25	USD	129,265	EUR	121,977		2,482
HSBC Bank USA	1/17/25	USD	615,143	IDR	9,431,678,028		29,426
HSBC Bank USA	1/24/25	CAD	43,000	USD	30,955		(1,017)
HSBC Bank USA	1/24/25	JPY	158,885,000	USD	1,056,357		(44,529)
HSBC Bank USA	1/24/25	USD	3,059,960	MXN	60,514,678		168,441
HSBC Bank USA	1/24/25	USD	19,388	AUD	30,000		819
HSBC Bank USA	1/24/25	NZD	21,000	USD	12,295		(545)
HSBC Bank USA	1/24/25	USD	58,467	CAD	84,000		(16)
HSBC Bank USA	2/07/25	USD	629,920	CLP	611,722,000		15,052
HSBC Bank USA	2/21/25	GBP	606,623	USD	769,280		(10,141)
HSBC Bank USA	2/21/25	USD	60,623	EUR	58,000		421
HSBC Bank USA	3/06/25	BRL	3,402,048	USD	555,470		(11,029)
HSBC Bank USA	3/07/25	USD	2,889,598	MYR	12,834,915		12,632
HSBC Bank USA	3/14/25	USD	2,416,225	CNH	17,154,498		74,596
JP Morgan Chase Bank N.A.	1/17/25	ZAR	2,139,356	USD	118,081		(4,864)
JP Morgan Chase Bank N.A.	1/24/25	AUD	289,517	USD	190,745		(11,545)
JP Morgan Chase Bank N.A.	1/24/25	JPY	127,418,000	USD	853,091		(41,655)
JP Morgan Chase Bank N.A.	1/24/25	USD	7,949	CHF	7,000		221
JP Morgan Chase Bank N.A.	1/24/25	USD	109,521	CZK	2,619,507		1,812
JP Morgan Chase Bank N.A.	1/24/25	CAD	207,272	USD	148,644		(4,335)
JP Morgan Chase Bank N.A.	1/24/25	USD	1,583,796	EUR	1,501,229		27,451
JP Morgan Chase Bank N.A.	1/24/25	USD	46,392	JPY	7,089,000		1,247
JP Morgan Chase Bank N.A.	1/24/25	USD	15,826	NOK	176,000		365
JP Morgan Chase Bank N.A.	1/24/25	USD	25,682	AUD	41,058		268
JP Morgan Chase Bank N.A.	2/14/25	USD	116,828	PLN	475,848		1,788
JP Morgan Chase Bank N.A.	2/21/25	USD	970,304	EUR	896,000		40,278
JP Morgan Chase Bank N.A.	2/21/25	USD	68,606	GBP	54,000		1,030
JP Morgan Chase Bank N.A.	2/21/25	EUR	173,995	USD	183,095		(2,492)
JP Morgan Chase Bank N.A.	2/21/25	GBP	214,000	USD	268,449		(646)
JP Morgan Chase Bank N.A.	2/28/25	USD	50,845	SEK	556,725		372
JP Morgan Chase Bank N.A.	3/07/25	USD	223,616	THB	7,702,458		(3,239)
JP Morgan Chase Bank N.A.	3/14/25	USD	957,897	CNH	6,709,000		42,102
JP Morgan Chase Bank N.A.	3/14/25	CNH	756,000	USD	108,489		(5,293)
JP Morgan Chase Bank N.A.	3/21/25	USD	998,551	EUR	942,478		18,937
Morgan Stanley & Co. LLC	1/24/25	NZD	308,482	USD	187,295		(14,682)
Morgan Stanley & Co. LLC	1/24/25	USD	42,324	CHF	37,000		1,472
Morgan Stanley & Co. LLC	1/24/25	USD	42,366	CAD	61,000		(104)
Morgan Stanley & Co. LLC	2/21/25	EUR	1,558,920	USD	1,642,049		(23,929)
Morgan Stanley & Co. LLC	2/21/25	USD	17,855	GBP	14,213		68
Royal Bank of Canada	1/24/25	CHF	307,000	USD	344,859		(5,899)
State Street Bank and Trust	1/24/25	USD	2,143,607	AUD	3,212,031		155,482
State Street Bank and Trust	1/24/25	USD	88,532	JPY	13,345,965		3,541
State Street Bank and Trust	1/24/25	AUD	208,000	USD	129,517		(773)
State Street Bank and Trust	1/24/25	USD	1,540,701	CZK	36,053,659		58,243
State Street Bank and Trust	1/24/25	USD	3,921,327	CAD	5,469,043		113,638
State Street Bank and Trust	3/14/25	USD	1,614,910	SGD	2,153,047		33,853
State Street Bank and Trust	3/14/25	CNY	660,000	USD	95,402		(4,505)
UBS AG	1/17/25	USD	35,755	INR	3,011,447		633
UBS AG	1/24/25	JPY	20,912,255	USD	141,056		(7,880)
UBS AG	1/24/25	USD	27,922	NZD	46,000		2,183
UBS AG	1/24/25	USD	7,062,842	JPY	1,047,175,409		394,113
UBS AG	1/24/25	USD	45,090	AUD	69,000		2,381
UBS AG	1/24/25	MXN	1,018,871	USD	50,010		(1,326)
UBS AG	1/24/25	CHF	1,188,000	USD	1,356,309		(44,633)
UBS AG	1/24/25	USD	1,903,566	CHF	1,629,000		104,980
UBS AG	1/24/25	USD	56,581	CAD	79,000		1,579
UBS AG	1/24/25	USD	96,757	NOK	1,079,000		1,974
UBS AG	2/28/25	USD	113,569	SEK	1,244,000		788
UBS AG	3/06/25	BRL	1,334,000	USD	216,474		(2,989)
UBS AG	3/06/25	USD	339,792	BRL	2,088,000		5,643
UBS AG	3/07/25	USD	1,014,201	THB	35,205,448		(22,682)
UBS AG	3/14/25	USD	5,235,488	CNH	36,893,715		199,409
						$	3,426,914

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/Net Unrealized Appreciation (Depreciation)
Long
Euro-BTP	3/06/25		21	$	2,667,401	$	(57,495)
Euro-OAT	3/06/25		17		2,221,454		(48,448)
Australia 3 Year Bond	3/17/25		13		854,163		(16)
Korea 10 Year Bond	3/18/25		23		1,864,423		(37,734)
U.S. Treasury Long Bond	3/20/25		58		6,648,897		(45,959)
U.S. Treasury Note 10 Year	3/20/25		103		11,381,369		(180,119)
U.S. Treasury Ultra Bond	3/20/25		38		4,697,405		(178,967)
UK Long Gilt	3/27/25		1		115,265		423
U.S. Treasury Note 2 Year	3/31/25		49		10,067,570		7,289
U.S. Treasury Note 5 Year	3/31/25		233		24,859,534		(90,542)
						$	(631,568)
Short
Euro-BOBL	3/06/25		62	$	(7,658,794)	$	89,509
Euro-Bund	3/06/25		65		(9,121,542)		136,996
Euro-Schatz	3/06/25		9		(1,000,823)		3,440
Mini 10 Year Japanese Government Bond	3/12/25		15		(1,358,926)		3,878
Australia 10 Year Bond	3/17/25		1		(70,297)		433
Korea 3 Year Bond	3/18/25		28		(2,037,334)		8,872
Canada 10 Year Bond	3/20/25		6		(513,719)		1,938
U.S. Treasury Ultra 10 Year	3/20/25		130		(14,633,299)		162,674
						$	407,740

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)
iTraxx Crossover Europe Series 41†	5.000%		Quarterly		6/20/29	EUR	1,635,000	$	(151,316)	$	(148,555)	$	(2,761)
iTraxx Crossover Europe Series 42†	5.000%		Quarterly		12/20/29	EUR	5,275,000		(430,905)		(467,964)		37,059
Bombardier, Inc.	5.000%		Quarterly		6/20/28	USD	390,000		(45,022)		(15,794)		(29,228)
CDX.NA.EM Series 41†	1.000%		Quarterly		6/20/29	USD	4,075,000		97,050		116,178		(19,128)
								$	(530,193)	$	(516,135)	$	(14,058)

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)
Cellnex Telecom SA	5.000%		Quarterly		12/20/28		BBB-*	EUR	220,000	$	38,097	$	33,780	$	4,317
Freeport McMoran, Inc.	1.000%		Quarterly		6/20/29		BBB*	USD	787,000		8,542		(711)		9,253
CDX.NA.IG Series 43†	1.000%		Quarterly		12/20/29		Not Rated	USD	20,243,000		452,188		460,835		(8,647)
										$	498,827	$	493,904	$	4,923

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.		BBB-*		12/20/29	USD	225,000	$	3,953	$	(11,045)	$	14,998
Republic of Greece	1.000%		Quarterly		Bank of America N.A.		BBB-*		12/20/29	USD	225,000		3,953		(11,239)		15,192
Republic of Greece	1.000%		Quarterly		Citibank N.A.		BBB-*		6/20/25	USD	150,000		626		(9,034)		9,660
Republic of Greece	1.000%		Quarterly		Citibank N.A.		BBB-*		6/20/25	USD	75,000		313		(4,350)		4,663
Republic of Greece	1.000%		Quarterly		Citibank N.A.		BBB-*		12/20/25	USD	300,000		2,451		(281)		2,732
Republic of Vietnam	1.000%		Quarterly		Goldman Sachs International		BB+*		6/20/26	USD	550,000		3,992		4,327		(335)
Republic of Greece	1.000%		Quarterly		Morgan Stanley & Co. LLC		BBB-*		6/20/25	USD	94,000		392		(4,498)		4,890
												$	15,680	$	(36,120)	$	51,800

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 4.733%	Semi-Annually		CLP-ICP		Semi-Annually		10/16/29	CLP	991,200,000	$	22,552	$	—	$	22,552
Fixed 4.975%	Semi-Annually		CLP-ICP		Semi-Annually		10/16/34	CLP	342,410,000		13,704		—		13,704
Fixed 4.970%	Semi-Annually		CLP-ICP		Semi-Annually		10/17/34	CLP	341,290,000		13,805		—		13,805
Fixed 5.601%	Semi-Annually		CLP-ICP		Semi-Annually		12/27/34	CLP	135,026,000		(1,119)		—		(1,119)
Fixed 5.571%	Semi-Annually		CLP-ICP		Semi-Annually		12/27/34	CLP	72,103,000		(427)		—		(427)
Fixed 5.686%	Semi-Annually		CLP-ICP		Semi-Annually		12/30/34	CLP	90,017,000		(1,388)		—		(1,388)
Fixed 5.526%	Semi-Annually		CLP-ICP		Semi-Annually		1/02/35	CLP	225,043,000		(559)		—		(559)
3-Month CNREPOFIX=CFXS-Reuters	Quarterly		Fixed 2.476%		Quarterly		6/01/28	CNY	20,850,000		102,360		—		102,360
3-Month CNREPOFIX=CFXS-Reuters	Quarterly		Fixed 1.653%		Quarterly		9/20/29	CNY	3,515,000		5,521		—		5,521
Fixed 1.860%	Maturity		Eurozone Consumer Price Index		Maturity		9/15/29	EUR	3,075,000		(7,398)		—		(7,398)
Fixed 1.958%	Maturity		Eurozone Consumer Price Index		Maturity		10/15/34	EUR	620,000		(4,384)		—		(4,384)
Fixed 2.199%	Annually		6-Month EURIBOR		Semi-Annually		12/13/39	EUR	535,000		15,227		—		15,227
Fixed 2.213%	Annually		6-Month EURIBOR		Semi-Annually		12/13/39	EUR	270,000		7,193		—		7,193
Fixed 2.244%	Annually		6-Month EURIBOR		Semi-Annually		12/16/39	EUR	270,000		6,121		—		6,121
6-Month EURIBOR	Semi-Annually		Fixed 2.510%		Annually		8/19/44	EUR	1,270,000		28,358		—		28,358
6-Month EURIBOR	Semi-Annually		Fixed 2.472%		Annually		9/20/44	EUR	550,000		8,977		—		8,977
GBP-SONIA	Annually		Fixed 4.253%		Annually		11/07/26	GBP	7,802,000		(6,910)		193		(7,103)
GBP-SONIA	Annually		Fixed 4.257%		Annually		11/07/26	GBP	4,300,000		(2,647)		106		(2,753)
GBP-SONIA	Annually		Fixed 4.070%		Annually		11/07/29	GBP	1,265,000		732		40		692
INR-FBIL-MIBOR	Semi-Annually		Fixed 6.390%		Semi-Annually		5/28/29	INR	48,863,000		3,794		—		3,794
INR-FBIL-MIBOR	Semi-Annually		Fixed 6.387%		Semi-Annually		5/28/29	INR	46,947,000		3,584		—		3,584
INR-FBIL-MIBOR	Semi-Annually		Fixed 6.378%		Semi-Annually		5/28/29	INR	47,190,000		(126,932)		—		(126,932)
INR-FBIL-MIBOR	Semi-Annually		Fixed 6.350%		Semi-Annually		6/20/31	INR	55,000,000		4,223		—		4,223
INR-FBIL-MIBOR	Semi-Annually		Fixed 6.283%		Semi-Annually		7/19/31	INR	71,150,000		2,482		—		2,482
INR-FBIL-MIBOR	Semi-Annually		Fixed 5.970%		Semi-Annually		9/20/31	INR	46,700,000		(7,697)		—		(7,697)
Fixed 0.418%	Annually		JPY-TONAR		Annually		8/10/28	JPY	391,535,000		28,192		—		28,192
Fixed 0.602%	Annually		JPY-TONAR		Annually		5/02/29	JPY	69,900,000		3,110		—		3,110
Fixed 0.989%	Annually		JPY-TONAR		Annually		11/13/34	JPY	110,000,000		3,685		—		3,685
Fixed 2.137%	Annually		SEK-STIBOR-SIDE		Quarterly		12/12/29	SEK	9,300,000		14,205		—		14,205
Fixed 2.141%	Annually		SEK-STIBOR-SIDE		Quarterly		12/12/29	SEK	9,300,000		14,066		—		14,066
Fixed 2.305%	Annually		SEK-STIBOR-SIDE		Quarterly		12/12/34	SEK	8,675,000		27,743		—		27,743
Fixed 2.320%	Annually		SEK-STIBOR-SIDE		Quarterly		12/12/34	SEK	8,675,000		26,757		—		26,757
Fixed 2.452%	Annually		SEK-STIBOR-SIDE		Quarterly		12/19/34	SEK	9,675,000		19,943		—		19,943
Fixed 2.571%	Annually		SEK-STIBOR-SIDE		Quarterly		12/23/34	SEK	13,200,000		14,801		—		14,801
										$	231,674	$	339	$	231,335

* 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 change

## Exercise Rate.

† 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

CHF Swiss Franc

CLP Chilean Peso

CNH Offshore Chinese Yuan

CNY Chinese Yuan Renminbi

COP Colombian Peso

CZK Czech Koruna

EGP Egyptian Pound

EUR Euro

GBP British Pound

HUF Hungarian Forint

IDR Indonesian Rupiah

INR Indian Rupee

JPY Japanese Yen

LKR Sri Lanka Rupee

MXN Mexican Peso

MYR Malaysian Ringgit

NOK Norwegian Krone

NZD New Zealand Dollar

PEN Peruvian New Sol

PLN Polish Zloty

RON New Romanian Leu

SEK Swedish Krona

SGD Singapore Dollar

THB Thai Baht

TRY New Turkish Lira

TWD Taiwan Dollar

USD U.S. Dollar

ZAR South African Rand

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.6%
COMMON STOCK — 99.3%
Communication Services — 8.3%
Alphabet, Inc. Class A		295,604	$	55,957,837
Alphabet, Inc. Class C		131,294		25,003,629
AT&T, Inc.		66,656		1,517,757
Charter Communications, Inc. Class A (a)		907		310,892
Comcast Corp. Class A		196,398		7,370,817
Electronic Arts, Inc.		2,247		328,736
Epic Games, Inc. (Acquired 6/18/20-3/29/21, Cost $2,322,065) (a) (b) (c) (d)		3,487		2,221,603
Fox Corp. Class A		2,142		104,058
Fox Corp. Class B		1,241		56,763
Interpublic Group of Cos., Inc.		3,580		100,312
Live Nation Entertainment, Inc. (a)		1,449		187,646
Match Group, Inc. (a)		2,396		78,373
Meta Platforms, Inc. Class A		88,018		51,535,419
Netflix, Inc. (a)		28,203		25,137,898
News Corp. Class A		3,609		99,392
News Corp. Class B		1,093		33,260
Omnicom Group, Inc.		1,862		160,207
Paramount Global Class B		5,611		58,691
Pinterest, Inc. Class A (a)		96,128		2,787,712
Spotify Technology SA (a)		11,308		5,058,973
T-Mobile US, Inc.		56,814		12,540,554
Take-Two Interactive Software, Inc. (a)		1,521		279,986
Verizon Communications, Inc.		39,139		1,565,169
Walt Disney Co.		16,868		1,878,252
Warner Bros Discovery, Inc. (a)		20,423		215,871
				194,589,807
Consumer Discretionary — 11.0%
Airbnb, Inc. Class A (a)		4,019		528,137
Amazon.com, Inc. (a)		477,499		104,758,506
Aptiv PLC (a)		2,162		130,758
AutoZone, Inc. (a)		2,513		8,046,626
Best Buy Co., Inc.		1,802		154,612
Booking Holdings, Inc.		3,321		16,500,123
BorgWarner, Inc.		2,067		65,710
Caesars Entertainment, Inc. (a)		1,934		64,634
CarMax, Inc. (a)		1,493		122,068
Carnival Corp. (a)		9,670		240,976
Chipotle Mexican Grill, Inc. (a)		139,186		8,392,916
Cie Financiere Richemont SA Registered Class A		31,851		4,841,472
Coupang, Inc. (a)		213,189		4,685,894
Darden Restaurants, Inc.		1,086		202,745
Deckers Outdoor Corp. (a)		1,421		288,591
Domino's Pizza, Inc.		318		133,484

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
DR Horton, Inc.		2,704	$	378,073
Duolingo, Inc. (a)		4,256		1,379,923
eBay, Inc.		4,437		274,872
Expedia Group, Inc. (a)		1,140		212,416
Ferrari NV		9,658		4,103,105
Floor & Decor Holdings, Inc. Class A (a)		10,563		1,053,131
Ford Motor Co.		36,192		358,301
Garmin Ltd.		1,435		295,983
General Motors Co.		10,208		543,780
Genuine Parts Co.		1,321		154,240
Hasbro, Inc.		1,195		66,813
Hilton Worldwide Holdings, Inc.		2,281		563,772
Home Depot, Inc.		23,201		9,024,957
Las Vegas Sands Corp.		3,212		164,968
Lennar Corp. Class A		2,213		301,787
LKQ Corp.		2,507		92,132
Lowe's Cos., Inc.		24,273		5,990,576
Lululemon Athletica, Inc. (a)		17,948		6,863,495
Marriott International, Inc. Class A		2,143		597,768
McDonald's Corp.		50,284		14,576,829
MercadoLibre, Inc. (a)		1,360		2,312,598
MGM Resorts International (a)		2,148		74,428
Mohawk Industries, Inc. (a)		509		60,637
NIKE, Inc. Class B		11,066		837,364
Norwegian Cruise Line Holdings Ltd. (a)		4,198		108,015
NVR, Inc. (a)		29		237,188
O'Reilly Automotive, Inc. (a)		3,695		4,381,531
Pool Corp.		351		119,670
PulteGroup, Inc.		1,935		210,722
Ralph Lauren Corp.		381		88,003
Ross Stores, Inc.		63,498		9,605,343
Royal Caribbean Cruises Ltd.		2,303		531,279
Starbucks Corp.		51,559		4,704,759
Tapestry, Inc.		2,201		143,791
Tesla, Inc. (a)		68,116		27,507,965
TJX Cos., Inc.		50,020		6,042,916
Tractor Supply Co.		71,090		3,772,035
Ulta Beauty, Inc. (a)		436		189,630
Wynn Resorts Ltd.		870		74,959
Yum! Brands, Inc.		2,629		352,707
				257,509,713
Consumer Staples — 5.3%
Altria Group, Inc.		15,828		827,646
Archer-Daniels-Midland Co.		4,452		224,915
Brown-Forman Corp. Class B		1,741		66,123
Bunge Global SA		1,355		105,365
Campbell's Co.		1,871		78,357
Church & Dwight Co., Inc.		2,280		238,739
Clorox Co.		1,143		185,635
Coca-Cola Co.		253,932		15,809,806
Colgate-Palmolive Co.		141,320		12,847,401
Conagra Brands, Inc.		4,596		127,539
Constellation Brands, Inc. Class A		1,464		323,544
Costco Wholesale Corp.		4,127		3,781,446
Dollar General Corp.		2,027		153,687
Dollar Tree, Inc. (a)		33,404		2,503,296
Estee Lauder Cos., Inc. Class A		2,208		165,556

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
General Mills, Inc.		5,200	$	331,604
Hershey Co.		1,375		232,856
Hormel Foods Corp.		2,761		86,613
J.M. Smucker Co.		1,017		111,992
Kellanova		2,451		198,457
Kenvue, Inc.		1,054,907		22,522,264
Keurig Dr. Pepper, Inc.		437,566		14,054,620
Kimberly-Clark Corp.		3,094		405,438
Kraft Heinz Co.		8,226		252,620
Kroger Co.		6,208		379,619
Lamb Weston Holdings, Inc.		1,371		91,624
McCormick & Co., Inc.		2,330		177,639
Molson Coors Beverage Co. Class B		1,677		96,126
Mondelez International, Inc. Class A		71,554		4,273,920
Monster Beverage Corp. (a)		6,592		346,476
PepsiCo, Inc.		12,777		1,942,871
Philip Morris International, Inc.		14,460		1,740,261
Procter & Gamble Co.		111,029		18,614,012
Sysco Corp.		4,596		351,410
Target Corp.		4,282		578,841
Tyson Foods, Inc. Class A		2,715		155,950
Walgreens Boots Alliance, Inc.		6,779		63,248
Walmart, Inc.		206,951		18,698,023
				123,145,539
Energy — 4.5%
APA Corp.		3,519		81,254
Baker Hughes Co.		9,291		381,117
Chevron Corp.		69,594		10,079,995
ConocoPhillips		164,130		16,276,772
Coterra Energy, Inc.		7,033		179,623
Devon Energy Corp.		6,018		196,969
Diamondback Energy, Inc.		56,534		9,261,965
EOG Resources, Inc.		5,267		645,629
EQT Corp.		215,373		9,930,849
Expand Energy Corp. (e)		73,451		7,312,047
Exxon Mobil Corp.		136,174		14,648,237
Halliburton Co.		8,228		223,719
Hess Corp.		2,583		343,565
Kinder Morgan, Inc.		17,847		489,008
Marathon Petroleum Corp.		2,982		415,989
Occidental Petroleum Corp.		6,287		310,641
ONEOK, Inc.		5,405		542,662
Phillips 66		38,638		4,402,027
Range Resources Corp.		242,481		8,724,467
Schlumberger NV		333,592		12,789,917
Targa Resources Corp.		2,022		360,927
TechnipFMC PLC		184,260		5,332,485
Texas Pacific Land Corp.		175		193,543
Valero Energy Corp.		2,936		359,924
Williams Cos., Inc.		37,003		2,002,602
				105,485,933
Financials — 14.0%
Aflac, Inc.		4,658		481,824
Allstate Corp.		61,590		11,873,936
American Express Co.		54,770		16,255,188

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
American International Group, Inc.		5,787	$	421,294
Ameriprise Financial, Inc.		907		482,914
Annaly Capital Management, Inc.		203,952		3,732,322
Aon PLC Class A		2,013		722,989
Apollo Global Management, Inc.		4,161		687,231
Arch Capital Group Ltd.		3,499		323,133
Arthur J Gallagher & Co.		2,310		655,694
Assurant, Inc.		494		105,331
Bank of America Corp.		415,959		18,281,398
Bank of New York Mellon Corp.		6,827		524,518
Berkshire Hathaway, Inc. Class B (a)		69,621		31,557,807
Blackrock, Inc.		1,355		1,389,024
Blackstone, Inc.		6,721		1,158,835
Brown & Brown, Inc.		2,205		224,954
Capital One Financial Corp.		3,536		630,540
Cboe Global Markets, Inc.		955		186,607
Charles Schwab Corp.		237,829		17,601,724
Chubb Ltd.		24,755		6,839,807
Cincinnati Financial Corp.		1,429		205,347
Citigroup, Inc.		73,774		5,192,952
Citizens Financial Group, Inc.		4,090		178,978
CME Group, Inc.		44,664		10,372,321
Corebridge Financial, Inc.		172,961		5,176,723
Corpay, Inc. (a)		13,956		4,722,990
Discover Financial Services		2,328		403,279
Erie Indemnity Co. Class A		237		97,699
Everest Group Ltd.		396		143,534
FactSet Research Systems, Inc.		361		173,381
Fidelity National Information Services, Inc.		4,994		403,365
Fifth Third Bancorp		6,316		267,040
Fiserv, Inc. (a)		103,943		21,351,971
Franklin Resources, Inc.		2,915		59,145
Global Payments, Inc.		2,373		265,918
Globe Life, Inc.		767		85,536
Goldman Sachs Group, Inc.		19,613		11,230,796
Hartford Financial Services Group, Inc.		2,737		299,428
Huntington Bancshares, Inc.		340,545		5,540,667
Intercontinental Exchange, Inc.		5,336		795,117
Invesco Ltd.		4,275		74,727
Jack Henry & Associates, Inc.		697		122,184
JP Morgan Chase & Co.		166,541		39,921,543
KeyCorp.		235,834		4,042,195
KKR & Co., Inc.		6,260		925,917
Loews Corp.		1,666		141,094
M&T Bank Corp.		1,561		293,484
MarketAxess Holdings, Inc.		360		81,374
Marsh & McLennan Cos., Inc.		24,188		5,137,773
Mastercard, Inc. Class A		36,135		19,027,607
MetLife, Inc.		86,047		7,045,528
Moody's Corp.		1,452		687,333
Morgan Stanley		11,579		1,455,712
MSCI, Inc.		728		436,807
Nasdaq, Inc.		3,864		298,726
Northern Trust Corp.		1,842		188,805
PayPal Holdings, Inc. (a)		9,318		795,291
PNC Financial Services Group, Inc.		3,685		710,652
Principal Financial Group, Inc.		1,940		150,175
Progressive Corp.		39,145		9,379,533

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Prudential Financial, Inc.		3,302	$	391,386
Raymond James Financial, Inc.		1,730		268,721
Regions Financial Corp.		8,370		196,862
S&P Global, Inc.		2,954		1,471,181
State Street Corp.		2,715		266,477
Synchrony Financial		3,682		239,330
T. Rowe Price Group, Inc.		2,075		234,662
Travelers Cos., Inc.		27,461		6,615,080
Truist Financial Corp.		12,395		537,695
US Bancorp		14,466		691,909
Visa, Inc. Class A		134,506		42,509,276
W. R. Berkley Corp.		2,857		167,192
Wells Fargo & Co.		30,978		2,175,895
Willis Towers Watson PLC		948		296,952
				328,082,335
Health Care — 11.0%
Abbott Laboratories		16,181		1,830,233
AbbVie, Inc.		46,374		8,240,660
Agilent Technologies, Inc.		2,664		357,882
Align Technology, Inc. (a)		649		135,323
Amgen, Inc.		4,993		1,301,375
Argenx SE ADR (a)		9,003		5,536,845
AstraZeneca PLC Sponsored ADR		149,565		9,799,499
Baxter International, Inc.		4,837		141,047
Becton Dickinson & Co.		25,299		5,739,584
Bio-Techne Corp.		1,502		108,189
Biogen, Inc. (a)		1,331		203,537
Boston Scientific Corp. (a)		13,680		1,221,898
Bristol-Myers Squibb Co.		18,826		1,064,799
Cardinal Health, Inc.		2,274		268,946
Cencora, Inc.		69,628		15,644,019
Centene Corp. (a)		4,676		283,272
Charles River Laboratories International, Inc. (a)		491		90,639
Cigna Group		26,030		7,187,924
Cooper Cos., Inc. (a)		1,838		168,967
CVS Health Corp.		11,651		523,013
Danaher Corp.		48,027		11,024,598
DaVita, Inc. (a)		418		62,512
Dexcom, Inc. (a)		3,617		281,294
Edwards Lifesciences Corp. (a)		5,471		405,018
Elevance Health, Inc.		43,520		16,054,528
Eli Lilly & Co.		42,854		33,083,288
GE HealthCare Technologies, Inc. (a)		33,917		2,651,631
Gilead Sciences, Inc.		11,560		1,067,797
HCA Healthcare, Inc.		7,155		2,147,573
Henry Schein, Inc. (a)		1,205		83,386
Hologic, Inc. (a)		2,206		159,031
Humana, Inc.		1,124		285,170
IDEXX Laboratories, Inc. (a)		2,543		1,051,378
Incyte Corp. (a)		1,525		105,332
Insulet Corp. (a)		648		169,173
Intuitive Surgical, Inc. (a)		23,922		12,486,327
IQVIA Holdings, Inc. (a)		1,617		317,757
Johnson & Johnson		74,156		10,724,441
Labcorp Holdings, Inc.		799		183,227
McKesson Corp.		1,180		672,494
Medtronic PLC		11,906		951,051

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Merck & Co., Inc.		23,585	$	2,346,236
Mettler-Toledo International, Inc. (a)		3,462		4,236,380
Moderna, Inc. (a)		3,257		135,426
Molina Healthcare, Inc. (a)		19,006		5,531,696
Natera, Inc. (a)		15,331		2,426,897
Pfizer, Inc.		52,657		1,396,990
Quest Diagnostics, Inc.		37,830		5,707,034
Regeneron Pharmaceuticals, Inc. (a)		12,362		8,805,823
ResMed, Inc.		1,373		313,991
Revvity, Inc.		68,362		7,629,883
Solventum Corp. (a)		1,315		86,869
STERIS PLC		917		188,499
Stryker Corp.		10,676		3,843,894
Teleflex, Inc.		448		79,735
Tenet Healthcare Corp. (a)		47,059		5,940,258
Thermo Fisher Scientific, Inc.		39,279		20,434,114
UnitedHealth Group, Inc.		66,076		33,425,205
Universal Health Services, Inc. Class B		570		102,269
Vertex Pharmaceuticals, Inc. (a)		2,397		965,272
Viatris, Inc.		11,452		142,577
Waters Corp. (a)		543		201,442
West Pharmaceutical Services, Inc.		675		221,103
Zimmer Biomet Holdings, Inc.		1,894		200,063
Zoetis, Inc.		4,200		684,306
				258,860,619
Industrials — 9.0%
3M Co.		5,088		656,810
A.O. Smith Corp.		1,139		77,691
Allegion PLC		832		108,726
AMETEK, Inc.		88,769		16,001,500
Automatic Data Processing, Inc.		3,787		1,108,569
Axon Enterprise, Inc. (a)		671		398,789
Boeing Co. (a)		70,037		12,396,549
Booz Allen Hamilton Holding Corp.		26,054		3,353,150
Broadridge Financial Solutions, Inc.		19,387		4,383,207
Builders FirstSource, Inc. (a)		1,061		151,649
C.H. Robinson Worldwide, Inc.		1,120		115,718
Carrier Global Corp.		7,769		530,312
Caterpillar, Inc.		4,490		1,628,792
Cintas Corp.		3,173		579,707
Copart, Inc. (a)		8,096		464,629
CSX Corp.		207,169		6,685,344
Cummins, Inc.		26,811		9,346,315
Dayforce, Inc. (a) (e)		1,509		109,614
Deere & Co.		39,365		16,678,950
Delta Air Lines, Inc.		5,995		362,697
Dover Corp.		1,281		240,316
Eaton Corp. PLC		3,675		1,219,622
Emerson Electric Co.		5,306		657,573
Equifax, Inc.		15,471		3,942,784
Expeditors International of Washington, Inc.		1,306		144,666
Fastenal Co.		5,314		382,130
FedEx Corp.		2,085		586,573
Ferguson Enterprises, Inc.		24,009		4,167,242
Fortive Corp.		3,264		244,800
GE Vernova, Inc.		2,579		848,310
Generac Holdings, Inc. (a)		573		88,844

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
General Dynamics Corp.		35,776	$	9,426,618
General Electric Co.		38,887		6,485,963
Honeywell International, Inc.		6,052		1,367,086
Howmet Aerospace, Inc.		3,770		412,325
Hubbell, Inc.		499		209,026
Huntington Ingalls Industries, Inc.		363		68,596
IDEX Corp.		699		146,294
Illinois Tool Works, Inc.		2,504		634,914
Ingersoll Rand, Inc.		38,372		3,471,131
Jacobs Solutions, Inc.		1,160		154,999
JB Hunt Transport Services, Inc.		734		125,264
Johnson Controls International PLC		6,178		487,630
L3Harris Technologies, Inc.		27,114		5,701,532
Leidos Holdings, Inc.		1,252		180,363
Lennox International, Inc.		298		181,571
Lockheed Martin Corp.		1,970		957,302
Masco Corp.		2,022		146,737
Nordson Corp.		522		109,223
Norfolk Southern Corp.		37,733		8,855,935
Northrop Grumman Corp.		9,442		4,431,036
Old Dominion Freight Line, Inc.		60,131		10,607,108
Otis Worldwide Corp.		3,746		346,917
Owens Corning		13,012		2,216,204
PACCAR, Inc.		4,851		504,601
Parker-Hannifin Corp.		15,543		9,885,814
Paychex, Inc.		2,972		416,734
Paycom Software, Inc.		465		95,311
Pentair PLC		1,525		153,476
Quanta Services, Inc.		1,370		432,988
Republic Services, Inc.		48,543		9,765,881
Rockwell Automation, Inc.		36,983		10,569,372
Rollins, Inc.		2,694		124,867
RTX Corp.		12,364		1,430,762
Snap-on, Inc.		485		164,648
Southwest Airlines Co.		5,697		191,533
Stanley Black & Decker, Inc.		1,479		118,749
Textron, Inc.		1,709		130,721
Trane Technologies PLC		2,092		772,680
TransDigm Group, Inc.		520		658,986
Uber Technologies, Inc. (a)		75,704		4,566,465
Union Pacific Corp.		37,952		8,654,574
United Airlines Holdings, Inc. (a)		3,069		298,000
United Parcel Service, Inc. Class B		6,796		856,976
United Rentals, Inc.		616		433,935
Veralto Corp.		2,302		234,459
Verisk Analytics, Inc.		1,310		360,813
W.W. Grainger, Inc.		412		434,269
Waste Management, Inc.		3,385		683,059
Westinghouse Air Brake Technologies Corp.		77,600		14,712,184
Xylem, Inc.		2,266		262,901
				211,300,110
Information Technology — 29.8%
Accenture PLC Class A		5,826		2,049,529
Adobe, Inc. (a)		4,095		1,820,965
Advanced Micro Devices, Inc. (a)		64,740		7,819,945
Akamai Technologies, Inc. (a)		1,398		133,719
Amphenol Corp. Class A		195,966		13,609,839

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Analog Devices, Inc.		54,725	$	11,626,873
ANSYS, Inc. (a)		815		274,924
Apple, Inc.		633,129		158,548,164
Applied Materials, Inc.		7,692		1,250,950
AppLovin Corp. Class A (a)		18,457		5,976,930
Arista Networks, Inc. (a)		9,617		1,062,967
ASML Holding NV		4,885		3,385,696
Atlassian Corp. Class A (a)		14,055		3,420,706
Autodesk, Inc. (a)		28,321		8,370,838
Broadcom, Inc.		78,383		18,172,315
Cadence Design Systems, Inc. (a)		2,539		762,868
Canva, Inc. (Acquired 12/17/21-12/22/21, Cost $872,531) (a) (b) (c) (d)		512		677,617
CDW Corp.		1,222		212,677
Celonis SE (Acquired 6/17/21, Cost $435,243) (a) (b) (c) (d)		1,177		237,625
Cisco Systems, Inc.		37,085		2,195,432
Cognizant Technology Solutions Corp. Class A		4,633		356,278
Corning, Inc.		7,195		341,906
Crowdstrike Holdings, Inc. Class A (a)		2,166		741,119
Dell Technologies, Inc. Class C		2,859		329,471
Dynatrace, Inc. (a)		53,056		2,883,594
Enphase Energy, Inc. (a)		1,286		88,322
EPAM Systems, Inc. (a)		544		127,198
F5, Inc. (a)		557		140,069
Fair Isaac Corp. (a)		2,418		4,814,069
First Solar, Inc. (a)		977		172,186
Fortinet, Inc. (a)		5,875		555,070
Gartner, Inc. (a)		720		348,818
Gen Digital, Inc.		5,189		142,075
GoDaddy, Inc. Class A (a)		1,313		259,147
Hewlett Packard Enterprise Co.		12,108		258,506
HP, Inc.		8,928		291,321
HubSpot, Inc. (a)		6,421		4,473,960
Intel Corp.		40,059		803,183
International Business Machines Corp.		8,608		1,892,297
Intuit, Inc.		15,442		9,705,297
Jabil, Inc.		1,041		149,800
Juniper Networks, Inc.		3,143		117,705
Keysight Technologies, Inc. (a)		118,603		19,051,200
KLA Corp.		11,123		7,008,825
Lam Research Corp.		11,959		863,799
Microchip Technology, Inc.		5,012		287,438
Micron Technology, Inc.		51,178		4,307,140
Microsoft Corp.		335,355		141,352,132
Monolithic Power Systems, Inc.		455		269,223
Motorola Solutions, Inc.		1,547		715,070
NetApp, Inc.		1,914		222,177
NVIDIA Corp.		1,097,347		147,362,729
NXP Semiconductors NV		2,356		489,695
ON Semiconductor Corp. (a)		3,996		251,948
Oracle Corp.		14,963		2,493,434
Palantir Technologies, Inc. Class A (a)		19,084		1,443,323
Palo Alto Networks, Inc. (a)		6,093		1,108,682
PTC, Inc. (a)		21,192		3,896,573
QUALCOMM, Inc.		10,357		1,591,042
Roper Technologies, Inc.		9,981		5,188,623
Salesforce, Inc.		37,537		12,549,745
Seagate Technology Holdings PLC		2,017		174,087
ServiceNow, Inc. (a)		15,962		16,921,635

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Shopify, Inc. Class A (a)		78,385	$	8,334,677
Skyworks Solutions, Inc.		1,474		130,714
Snowflake, Inc. Class A (a)		30,638		4,730,814
Stripe, Inc., Class B (Acquired 12/17/19, Cost $295,694) (a) (b) (c) (d)		18,846		518,453
Super Micro Computer, Inc. (a)		4,814		146,731
Synopsys, Inc. (a)		15,117		7,337,187
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR		37,000		7,307,130
TE Connectivity PLC		82,755		11,831,482
Teledyne Technologies, Inc. (a)		12,098		5,615,045
Teradyne, Inc.		1,549		195,050
Texas Instruments, Inc.		59,969		11,244,787
Trimble, Inc. (a)		2,254		159,268
Tyler Technologies, Inc. (a)		398		229,503
VeriSign, Inc. (a)		762		157,703
Western Digital Corp. (a)		3,218		191,889
Workday, Inc. Class A (a)		1,983		511,673
Zebra Technologies Corp. Class A (a)		477		184,227
				696,976,823
Materials — 3.0%
Air Products & Chemicals, Inc.		2,059		597,192
Albemarle Corp. (e)		1,123		96,668
Amcor PLC		13,880		130,611
Avery Dennison Corp.		745		139,412
Ball Corp.		2,752		151,718
Celanese Corp.		1,048		72,532
CF Industries Holdings, Inc.		1,668		142,314
Corteva, Inc.		6,373		363,006
Dow, Inc.		6,539		262,410
DuPont de Nemours, Inc.		3,898		297,223
Eastman Chemical Co.		1,116		101,913
Ecolab, Inc.		2,343		549,012
FMC Corp.		1,213		58,964
Franco-Nevada Corp.		34,847		4,097,659
Freeport-McMoRan, Inc.		72,595		2,764,418
International Flavors & Fragrances, Inc.		2,377		200,975
International Paper Co.		254,410		13,692,346
Linde PLC (LIN US)		40,180		16,822,161
LyondellBasell Industries NV Class A		2,400		178,248
Martin Marietta Materials, Inc.		6,752		3,487,408
Mosaic Co.		120,482		2,961,448
Newmont Corp. (NEM US)		10,561		393,080
Nucor Corp.		2,218		258,863
Packaging Corp. of America		815		183,481
PPG Industries, Inc.		28,652		3,422,481
Sherwin-Williams Co.		40,351		13,716,515
Smurfit WestRock PLC		4,597		247,594
Southern Copper Corp.		18,401		1,676,883
Steel Dynamics, Inc.		1,306		148,975
Vulcan Materials Co.		1,235		317,679
Wheaton Precious Metals Corp.		31,472		1,769,985
				69,303,174
Real Estate — 1.2%
Alexandria Real Estate Equities, Inc.		1,491		145,447
American Tower Corp.		4,342		796,366
AvalonBay Communities, Inc.		17,145		3,771,386

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
BXP, Inc.		1,386	$	103,063
Camden Property Trust		1,019		118,245
CBRE Group, Inc. Class A (a)		2,816		369,713
CoStar Group, Inc. (a)		3,826		273,903
Crown Castle, Inc.		4,030		365,763
Digital Realty Trust, Inc.		2,903		514,789
Equinix, Inc.		4,403		4,151,545
Equity LifeStyle Properties, Inc.		25,665		1,709,289
Equity Residential		3,177		227,981
Essex Property Trust, Inc.		593		169,266
Extra Space Storage, Inc.		1,979		296,058
Federal Realty Investment Trust		699		78,253
Healthpeak Properties, Inc.		6,438		130,498
Host Hotels & Resorts, Inc.		6,709		117,542
Invitation Homes, Inc.		5,259		168,130
Iron Mountain, Inc.		2,740		288,001
Kimco Realty Corp.		6,214		145,594
Mid-America Apartment Communities, Inc.		1,111		171,727
Prologis, Inc.		8,594		908,386
Public Storage		36,096		10,808,586
Realty Income Corp.		8,224		439,244
Regency Centers Corp.		1,561		115,405
SBA Communications Corp.		1,001		204,004
Simon Property Group, Inc.		2,834		488,043
UDR, Inc.		2,870		124,587
Ventas, Inc.		3,849		226,668
VICI Properties, Inc.		9,778		285,615
Welltower, Inc.		5,507		694,047
Weyerhaeuser Co.		6,766		190,463
				28,597,607
Utilities — 2.2%
AES Corp.		6,796		87,465
Alliant Energy Corp.		2,463		145,662
Ameren Corp.		89,006		7,933,995
American Electric Power Co., Inc.		4,942		455,801
American Water Works Co., Inc.		1,815		225,949
Atmos Energy Corp.		62,019		8,637,386
CenterPoint Energy, Inc.		6,022		191,078
CMS Energy Corp.		76,109		5,072,665
Consolidated Edison, Inc.		3,229		288,124
Constellation Energy Corp.		2,897		648,088
Dominion Energy, Inc.		7,793		419,731
DTE Energy Co.		1,927		232,685
Duke Energy Corp.		7,178		773,358
Edison International		3,605		287,823
Entergy Corp.		3,990		302,522
Evergy, Inc.		2,206		135,779
Eversource Energy		3,433		197,157
Exelon Corp.		211,812		7,972,604
FirstEnergy Corp.		4,677		186,051
NextEra Energy, Inc.		51,170		3,668,377
NiSource, Inc.		4,310		158,436
NRG Energy, Inc.		1,870		168,711
PG&E Corp.		20,280		409,250
Pinnacle West Capital Corp.		1,083		91,806
PPL Corp.		6,870		223,000
Public Service Enterprise Group, Inc.		4,622		390,513

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sempra		5,856	$	513,688
Southern Co.		10,184		838,347
Vistra Corp.		3,158		435,393
WEC Energy Group, Inc.		2,950		277,418
Xcel Energy, Inc.		158,303		10,688,619
				52,057,481
TOTAL COMMON STOCK (Cost $1,893,907,403)				2,325,909,141
PREFERRED STOCK — 0.3%
Consumer Discretionary — 0.1%
GM Cruise Holdings LLC, Class F (Acquired 5/07/19, Cost $921,625) (a) (b) (c) (d)		50,500		50,500
GM Cruise Holdings LLC, Class G (Acquired 1/21/21, Cost $979,851) (a) (b) (c) (d)		37,186		37,186
Nuro, Inc., Series C (Acquired 10/30/20-3/02/21, Cost $1,236,023) (a) (b) (c) (d)		94,681		676,022
Nuro, Inc., Series D (Acquired 10/29/21, Cost $487,977) (a) (b) (c) (d)		23,409		167,140
Rappi, Inc., Series E (Acquired 9/08/20-9/24/20, Cost $1,092,516) (a) (b) (c) (d)		18,286		398,818
Waymo LLC., Series A-2 (Acquired 5/08/20, Cost $748,934) (a) (b) (c) (d)		8,722		700,377
				2,030,043
Health Care — 0.1%
Sartorius AG 0.346%		8,544		1,904,404
Industrials — 0.0%
Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $760,988) (a) (b) (c) (d)		18,438		360,533
Information Technology — 0.0%
Canva, Inc., Series A (Acquired 12/17/21, Cost $49,421) (a) (b) (c) (d)		29		38,381
Canva, Inc., Series A-3 (Acquired 12/17/21, Cost $13,633) (a) (b) (c) (d)		8		10,588
Celonis SE, Series D (Acquired 6/17/21-10/04/22, Cost $1,306,468) (a) (b) (c) (d)		3,533		713,277
Formagrid, Inc., Series F (Acquired 12/08/21, Cost $1,130,824) (a) (b) (c) (d)		6,038		352,257
				1,114,503
Materials — 0.1%
Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $1,059,705) (a) (b) (c) (d)		22,355		1,324,981
Redwood Materials, Inc., Series D (Acquired 6/17/22, Cost $50,373) (a) (b) (c) (d)		1,241		73,554
				1,398,535
TOTAL PREFERRED STOCK (Cost $13,104,837)				6,808,018
TOTAL EQUITIES (Cost $1,907,012,240)				2,332,717,159
TOTAL LONG-TERM INVESTMENTS (Cost $1,907,012,240)				2,332,717,159

MassMutual Select T. Rowe Price Large Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
SHORT-TERM INVESTMENTS — 0.8%
Mutual Fund — 0.8%
T. Rowe Price Government Reserve Investment Fund, 2.481% (f)		18,100,813	$	18,100,813
	Principal Amount
Repurchase Agreement — 0.0%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (g)	$	1,000,305		1,000,305
TOTAL SHORT-TERM INVESTMENTS (Cost $19,101,118)				19,101,118
TOTAL INVESTMENTS — 100.4% (Cost $1,926,113,358) (h)				2,351,818,277
Other Assets/(Liabilities) — (0.4)%				(9,607,355)
NET ASSETS — 100.0%			$	2,342,210,922

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) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $8,558,912 or 0.37% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.

(c) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $8,558,912 or 0.37% of net assets.

(d) Investment is valued using significant unobservable inputs.

(e) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2024, was $124,625 or 0.01% of net assets. The Fund received $127,343 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) Rate disclosed is the 7-day net yield as of December 31, 2024.

(g)	Maturity value of $1,000,458. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,020,351.
(h)	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	3/21/25		3	$	920,579	$	(30,216)

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.6%
COMMON STOCK — 96.7%
Australia — 8.1%
BHP Group Ltd.		345,967	$	8,443,480
Capricorn Metals Ltd. (a)		253,981		991,870
Champion Iron Ltd. (CIA AU) (b)		103,307		367,778
Champion Iron Ltd. (CIA CN) (b)		126,408		455,524
De Grey Mining Ltd. (a)		167,089		183,311
Emerald Resources NL (a)		285,641		577,549
Fortescue Ltd.		29,833		334,705
Glencore PLC		839,661		3,691,883
Goodman Group		81,550		1,799,754
Northern Star Resources Ltd.		152,353		1,461,972
Ora Banda Mining Ltd. (a)		186,941		75,475
Predictive Discovery Ltd. (a) (b)		1,785,299		254,799
Rio Tinto Ltd. (b)		9,563		695,505
Rio Tinto PLC		34,420		2,026,084
Scentre Group		513,688		1,092,207
				22,451,896
Bahrain — 0.1%
Aluminium Bahrain BSC		110,684		381,230
Belgium — 0.4%
Shurgard Self Storage Ltd.		18,587		690,389
Warehouses De Pauw CVA		27,566		542,676
				1,233,065
Bosnia and Herzegovina — 0.5%
Adriatic Metals PLC (a)		130,323		313,568
ERO Copper Corp. (a) (b)		78,226		1,054,659
				1,368,227
Brazil — 1.9%
Vale SA Sponsored ADR		269,301		2,388,700
Wheaton Precious Metals Corp.		52,060		2,930,310
				5,319,010
Canada — 10.5%
Agnico Eagle Mines Ltd. (AEM CN)		33,888		2,651,254
Agnico Eagle Mines Ltd. (AEM US)		6,422		502,265
Alamos Gold, Inc. Class A (AGI CN)		80,064		1,477,128
Alamos Gold, Inc. Class A (AGI US)		34,787		641,472
Artemis Gold, Inc. (a)		48,060		459,720
Aya Gold & Silver, Inc. (a)		11,266		84,175
Barrick Gold Corp.		72,280		1,120,340
Boardwalk Real Estate Investment Trust		9,406		420,422

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Cameco Corp.		28,187	$	1,448,530
Canadian Apartment Properties REIT		12,076		358,134
Canadian National Railway Co.		2,517		255,596
Canadian Natural Resources Ltd.		56,232		1,736,113
Canadian Pacific Kansas City Ltd.		3,546		256,624
Capstone Copper Corp. (a) (b)		30,798		190,472
Colliers International Group, Inc.		5,056		687,464
Enbridge, Inc.		42,622		1,808,452
Foran Mining Corp. (a)		123,926		338,815
Franco-Nevada Corp.		28,603		3,361,243
G Mining Ventures Corp. (a)		117,780		884,917
Hudbay Minerals, Inc.		24,837		201,180
Ivanhoe Mines Ltd. Class A (a) (b)		84,371		1,001,335
Kinross Gold Corp.		53,557		496,473
Lundin Gold, Inc.		29,126		621,241
New Gold, Inc. (a)		74,093		185,046
NGEx Minerals Ltd. (a) (b)		54,224		505,857
Osisko Gold Royalties Ltd. (OR CN) (b)		62,250		1,127,251
Skeena Resources Ltd. (a)		82,160		714,460
Snowline Gold Corp. (a)		79,301		281,908
South Bow Corp. (SOBO CN) (b)		21,809		514,634
Suncor Energy, Inc. (SU CN)		39,078		1,394,895
Teck Resources Ltd. Class B		52,824		2,140,957
Wesdome Gold Mines Ltd. (a)		52,697		473,281
West Fraser Timber Co. Ltd. (WFG (CN)		9,628		834,232
				29,175,886
Chile — 0.2%
Antofagasta PLC		25,348		501,685
China — 0.5%
CMOC Group Ltd. Class H		522,000		352,887
Zijin Mining Group Co. Ltd. Class H		558,000		1,021,233
				1,374,120
Finland — 0.1%
Kojamo OYJ (a)		32,645		317,486
France — 1.4%
Air Liquide SA		7,185		1,161,618
Gecina SA		5,839		547,228
TotalEnergies SE		38,130		2,118,842
				3,827,688
Germany — 0.5%
BASF SE		11,520		506,573
LEG Immobilien SE		10,669		903,975
				1,410,548
Hong Kong — 0.5%
Kerry Properties Ltd.		168,000		336,898
Sun Hung Kai Properties Ltd.		77,500		744,929
Swire Properties Ltd.		183,000		373,215
				1,455,042

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
India — 0.3%
Hindalco Industries Ltd.		44,927	$	315,979
Nexus Select Trust		232,553		374,281
				690,260
Japan — 2.3%
ARE Holdings, Inc.		2,000		21,606
Invincible Investment Corp.		1,339		560,777
Japan Metropolitan Fund Invest		404		231,391
Mitsubishi Estate Co. Ltd.		72,100		994,471
Mitsubishi Logistics Corp.		47,900		349,948
Mitsui Fudosan Co. Ltd.		178,100		1,416,299
Nippon Steel Corp. (b)		55,800		1,120,502
Nomura Real Estate Holdings, Inc.		14,000		343,931
Open House Group Co. Ltd.		10,800		363,501
Shin-Etsu Chemical Co. Ltd.		31,100		1,028,472
				6,430,898
Kazakhstan — 0.3%
NAC Kazatomprom JSC GDR (c)		19,902		751,304
Luxembourg — 0.2%
ArcelorMittal SA		20,795		481,485
Mexico — 0.8%
Grupo Mexico SAB de CV Series B		201,707		960,408
Industrias Penoles SAB de CV (a) (b)		27,811		353,990
Southern Copper Corp.		10,474		954,496
				2,268,894
Portugal — 0.3%
Galp Energia SGPS SA		56,287		933,125
Russia — 0.0%
Alrosa PJSC (a) (d) (e)		688,100		—
Polyus PJSC (a) (d) (e)		2,282		—
				—
Saudi Arabia — 0.3%
Saudi Arabian Mining Co. (a)		58,851		787,733
Singapore — 0.6%
CapitaLand Integrated Commercial Trust		449,306		634,530
Digital Core REIT Management Pte. Ltd.		414,300		240,691
Keppel DC REIT		235,600		376,076
Mapletree Industrial Trust		261,600		423,164
				1,674,461
South Africa — 2.4%
Anglo American Platinum Ltd. (b)		11,728		351,775
Anglo American PLC		107,332		3,179,988
Gold Fields Ltd.		73,114		962,986
Harmony Gold Mining Co. Ltd.		46,046		376,403
Impala Platinum Holdings Ltd. (a)		209,091		973,404
Northam Platinum Holdings Ltd.		110,004		568,425

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sibanye Stillwater Ltd. (a)		317,673	$	257,247
				6,670,228
Spain — 0.1%
Cellnex Telecom SA (c)		8,263		260,480
Thailand — 0.1%
WHA Corp. PCL		2,081,700		335,437
United Kingdom — 1.9%
AngloGold Ashanti PLC (a) (d) (e)		16,105		371,703
Anglogold Ashanti PLC (ANG SJ)		26,850		601,374
Anglogold Ashanti PLC (AU US)		13,706		316,335
Big Yellow Group PLC		17,087		205,307
Derwent London PLC		20,460		501,650
Persimmon PLC		18,038		269,667
Segro PLC		131,673		1,155,531
TechnipFMC PLC		43,162		1,249,108
UNITE Group PLC		42,322		426,613
Yellow Cake PLC (a) (c)		33,592		209,180
				5,306,468
United States — 61.5%
Acadia Realty Trust		90,117		2,177,227
AGCO Corp.		3,032		283,431
Agree Realty Corp.		4,358		307,021
Alcoa Corp.		3,304		124,825
Alexandria Real Estate Equities, Inc.		3,988		389,029
Ameren Corp.		3,163		281,950
American Homes 4 Rent Class A		78,039		2,920,219
American Tower Corp.		21,536		3,949,918
Apple Hospitality REIT, Inc.		80,782		1,240,004
Atlas Energy Solutions, Inc. (b)		24,611		545,872
AvalonBay Communities, Inc.		17,478		3,844,636
Baker Hughes Co.		31,335		1,285,362
Broadstone Net Lease, Inc.		7,179		113,859
Camden Property Trust		8,599		997,828
CBRE Group, Inc. Class A (a)		3,175		416,846
CF Industries Holdings, Inc.		6,875		586,575
Chevron Corp.		18,769		2,718,502
Cleveland-Cliffs, Inc. (a)		46,075		433,105
Commercial Metals Co.		6,981		346,258
ConocoPhillips		35,174		3,488,206
Constellation Energy Corp.		1,865		417,219
Corteva, Inc.		7,739		440,813
Crown Castle, Inc.		8,065		731,979
CSX Corp.		8,035		259,289
CubeSmart		51,038		2,186,978
Diamondback Energy, Inc.		9,058		1,483,972
Digital Realty Trust, Inc.		3,442		610,370
Douglas Emmett, Inc.		39,183		727,236
EastGroup Properties, Inc.		9,008		1,445,694
Entegris, Inc.		4,547		450,426
EOG Resources, Inc.		17,138		2,100,776
EPR Properties		2,767		122,523
EQT Corp.		32,708		1,508,166
Equinix, Inc.		10,303		9,714,596

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Equity LifeStyle Properties, Inc.		35,107	$	2,338,126
Equity Residential		45,345		3,253,957
Essential Properties Realty Trust, Inc.		8,444		264,128
Essex Property Trust, Inc.		13,038		3,721,567
Expand Energy Corp. (b)		15,656		1,558,555
Expro Group Holdings NV (a)		24,071		300,165
Extra Space Storage, Inc.		1,695		253,572
Exxon Mobil Corp.		43,200		4,647,024
Federal Realty Investment Trust		2,066		231,289
Freeport-McMoRan, Inc.		117,692		4,481,711
Gaming & Leisure Properties, Inc.		47,169		2,271,659
GE Vernova, Inc.		2,488		818,378
Halliburton Co.		18,809		511,417
HB Fuller Co.		5,325		359,331
Hess Corp.		3,559		473,383
Hilton Worldwide Holdings, Inc.		4,474		1,105,794
Host Hotels & Resorts, Inc.		34,356		601,917
Hubbell, Inc.		536		224,525
Huntsman Corp.		15,752		284,009
International Flavors & Fragrances, Inc.		7,355		621,865
International Paper Co.		12,200		656,604
Ivanhoe Electric, Inc. (a) (b)		31,944		241,177
Kilroy Realty Corp.		32,210		1,302,895
Kimco Realty Corp.		31,566		739,591
Kinder Morgan, Inc.		19,900		545,260
Kodiak Gas Services, Inc.		12,588		513,968
Linde PLC (LIN US)		5,427		2,272,122
Lineage, Inc.		2,903		170,029
Louisiana-Pacific Corp.		7,988		827,157
Marathon Petroleum Corp.		12,553		1,751,144
Marriott International, Inc. Class A		2,302		642,120
Mosaic Co.		15,717		386,324
MP Materials Corp. (a) (b)		37,815		589,914
Newmont Corp. (NEM AU)		11,970		443,377
Newmont Corp. (NEM US)		47,817		1,779,749
NextEra Energy, Inc.		12,512		896,985
NNN REIT, Inc.		9,302		379,987
Noble Corp. PLC		13,577		426,318
Norfolk Southern Corp.		1,052		246,904
NRG Energy, Inc.		2,982		269,036
Nucor Corp.		18,197		2,123,772
ONEOK, Inc.		15,342		1,540,337
Ovintiv, Inc.		17,378		703,809
Packaging Corp. of America		4,288		965,357
Pebblebrook Hotel Trust		22,517		305,105
Permian Resources Corp.		47,735		686,429
PG&E Corp.		22,501		454,070
Phillips 66		11,184		1,274,193
Prologis, Inc.		55,866		5,905,036
Public Storage		17,683		5,294,998
Quanta Services, Inc.		1,938		612,505
Range Resources Corp.		28,926		1,040,757
Rayonier, Inc.		24,142		630,106
Realty Income Corp.		34,204		1,826,836
Regency Centers Corp.		59,714		4,414,656
Reliance, Inc.		7,644		2,058,223
Rexford Industrial Realty, Inc.		69,735		2,695,955
Royal Gold, Inc.		4,070		536,630

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
RPM International, Inc.		5,077	$	624,776
SBA Communications Corp.		7,109		1,448,814
Schlumberger NV		41,962		1,608,823
Schneider Electric SE		2,087		515,900
Shell PLC		103,330		3,207,709
Sherwin-Williams Co.		3,939		1,338,984
Simon Property Group, Inc.		28,343		4,880,948
Southern Co.		7,136		587,436
Stanley Black & Decker, Inc.		5,433		436,216
Steel Dynamics, Inc.		28,668		3,270,159
Sun Communities, Inc.		21,359		2,626,516
Targa Resources Corp.		9,813		1,751,620
Tenaris SA ADR		14,622		552,565
Terreno Realty Corp.		36,440		2,155,063
Texas Pacific Land Corp.		458		506,530
Union Pacific Corp.		1,275		290,751
Uranium Energy Corp. (a)		65,929		441,065
US Steel Corp.		7,413		251,968
Valero Energy Corp.		11,962		1,466,422
Ventas, Inc.		57,299		3,374,338
VICI Properties, Inc.		45,976		1,342,959
Viper Energy, Inc.		13,020		638,891
Vornado Realty Trust		28,062		1,179,726
Vulcan Materials Co.		3,201		823,393
Warrior Met Coal, Inc.		9,688		525,477
Weatherford International PLC		6,977		499,763
Welltower, Inc.		42,737		5,386,144
Weyerhaeuser Co.		35,409		996,763
Williams Cos., Inc.		44,381		2,401,900
WP Carey, Inc.		10,787		587,676
				170,841,812
Vietnam — 0.7%
Hoa Phat Group JSC (a)		1,741,730		1,819,272
Zambia — 0.2%
First Quantum Minerals Ltd. (a)		45,606		587,902
TOTAL COMMON STOCK (Cost $265,483,395)				268,655,642
PREFERRED STOCK — 0.9%
United States — 0.9%
Jetti Holdings, Inc., Series C, (Acquired 5/24/21-6/30/21, Cost $130,426)
(a) (d) (e) (f)		2,253		239,516
KoBold Metals, Inc., Series B-1, (Acquired 1/10/22, Cost $670,800)
(a) (d) (e) (f)		24,472		2,078,962
Lilac Solutions, Inc., Series B, (Acquired 9/08/21, Cost $329,342)
(a) (d) (e) (f)		25,087		233,058
				2,551,536
TOTAL PREFERRED STOCK (Cost $1,130,568)				2,551,536
TOTAL EQUITIES (Cost $266,613,963)				271,207,178

MassMutual Select T. Rowe Price Real Assets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
EXCHANGE-TRADED FUNDS — 0.6%
United States — 0.6%
Global X Copper Miners ETF
		40,377	$	1,541,594
TOTAL EXCHANGE-TRADED FUNDS (Cost $1,730,718)				1,541,594
TOTAL PURCHASED OPTIONS(#) — 0.1% (Cost $183,220)				371,936
MUTUAL FUNDS — 0.1%
Canada — 0.1%
Sprott Physical Uranium Trust (a)		12,900		223,099
TOTAL MUTUAL FUNDS (Cost $295,756)				223,099
TOTAL LONG-TERM INVESTMENTS (Cost $268,823,657)				273,343,807
SHORT-TERM INVESTMENTS — 2.5%
Investment of Cash Collateral from Securities Loaned — 0.6%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (g)		1,701,637		1,701,637
Mutual Fund — 0.9%
T. Rowe Price Government Reserve Investment Fund, 2.481% (k)		2,597,754		2,597,754
	Principal Amount
Repurchase Agreement — 0.5%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (h)	$	1,284,439		1,284,439
U.S. Treasury Bills — 0.5%
U.S. Treasury Bills
4.254% 3/20/25 (i)		280,000		277,488
4.287% 3/20/25 (i)		70,000		69,372
4.535% 2/20/25 (i) (j)		1,000,000		994,324
				1,341,184
TOTAL SHORT-TERM INVESTMENTS (Cost $6,924,530)				6,925,014
TOTAL INVESTMENTS — 100.9% (Cost $275,748,187) (l)				280,268,821
Other Assets/(Liabilities) — (0.9)%				(2,457,780)
NET ASSETS — 100.0%			$	277,811,041

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 December 31, 2024, was $6,445,191 or 2.32% of net assets. The Fund received $5,076,006 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 December 31, 2024, the aggregate market value of these securities amounted to $1,220,964 or 0.44% of net assets.

(d) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $2,923,239 or 1.05% of net assets.

(e) Investment is valued using significant unobservable inputs.

(f) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $2,551,536 or 0.92% 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 and 7-day effective yield as of December 31, 2024. (Note 2).

(h) Maturity value of $1,284,635. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,310,330.

(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)	Rate disclosed is the 7-day net yield as of December 31, 2024.
(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)
Call
USD Call JPY Put	Barclays Bank PLC		1/22/25		159.00		7,084,000	USD	7,084,000	$	32,388	$	28,690	$	3,698
USD Call JPY Put	Citibank N.A.		1/22/25		159.00		5,944,000	USD	5,944,000		27,176		22,528		4,648
USD Call JPY Put	Citibank N.A.		1/22/25		159.00		2,972,000	USD	2,972,000		13,588		11,368		2,220
USD Call AUD Put	Goldman Sachs International		1/22/25		0.62		5,944,000	USD	5,944,000		71,066		17,832		53,234
USD Call AUD Put	Goldman Sachs International		1/22/25		0.62		5,301,000	USD	5,301,000		63,379		20,223		43,156
USD Call AUD Put	HSBC Bank USA		1/22/25		0.62		4,755,000	USD	4,755,000		56,851		15,929		40,922
										$	264,448	$	116,570	$	147,878
Put
S&P 500 Index	UBS AG		1/17/25		5,795.00		31	USD	17,964,500	$	107,488	$	66,650	$	40,838
										$	371,936	$	183,220	$	188,716

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Bank of America N.A.	1/15/25	NOK	43,431,000	USD	3,928,630	$	(113,438)
Bank of America N.A.	1/15/25	CAD	1,612,000	USD	1,139,899		(17,945)
Bank of America N.A.	1/15/25	USD	3,430,126	CNH	24,903,400		36,161
Bank of America N.A.	1/15/25	USD	3,893,476	SEK	42,449,400		54,314
Barclays Bank PLC	1/15/25	USD	2,087,664	INR	177,498,000		17,123
Barclays Bank PLC	1/15/25	TRY	141,510,611	USD	3,911,013		43,225
Barclays Bank PLC	1/15/25	INR	330,562,921	USD	3,893,923		(37,856)
BNP Paribas SA	1/15/25	GBP	1,516,062	USD	1,934,125		(36,365)
Goldman Sachs International	1/15/25	MXN	37,627,300	USD	1,857,686		(57,017)
Goldman Sachs International	2/04/25	BRL	25,930,326	USD	4,412,321		(239,997)
HSBC Bank USA	1/15/25	AUD	2,757,585	USD	1,770,809		(63,978)
State Street Bank and Trust	1/06/25	USD	37,190	JPY	5,868,208		(106)
State Street Bank and Trust	1/07/25	USD	5,333	JPY	841,464		(15)
UBS AG	1/15/25	EUR	1,786,500	USD	1,884,406		(32,972)
						$	(448,866)

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/Net Unrealized Appreciation (Depreciation)
Long
Topix Index	3/13/25		20	$	3,498,683	$	43,215
E-Mini S&P MidCap 400	3/21/25		2		667,730		(38,390)
Xak Technology	3/21/25		8		1,962,159		(69,679)
Xav Health Care	3/21/25		9		1,285,304		(24,674)
						$	(89,528)
Short
S&P TSX 60 Index	3/20/25		14	$	(2,963,302)	$	70,485
U.S. Treasury Long Bond	3/20/25		28		(3,303,303)		115,678
E-Mini S&P Real Estate Index	3/21/25		21		(1,102,812)		46,249
MSCI EAFE Index	3/21/25		10		(1,168,944)		35,194
MSCI Emerging Market Index	3/21/25		5		(277,651)		9,201
MSCI World Index	3/21/25		14		(1,719,275)		56,355
						$	333,162

OTC Total Return Swaps
Paid by the Fund				Received by the Fund
Rate/ Reference	No. of Contracts/ Notional		Frequency	Rate/ Reference	No. of Contracts/ Notional	Frequency	Counterparty	Termination Date	Value		Upfront Premium Paid/ (Received)		Unrealized Appreciation (Depreciation)
1 Day-SOFR+30BP	USD	92,582	Monthly	VanEck Vietnam ETF+30BP	7,826	Monthly	Bank of America N.A.	1/16/26	$	(2,739)	$	—	$	(2,739)
1 Day-SOFR+30BP	USD	344,799	Monthly	iShares Semiconductor ETF+30BP	1,516	Monthly	Bank of America N.A.	1/16/26		(18,116)		—		(18,116)
1 Day-SOFR	USD	917,866	Monthly	Dow Jones U.S. Select Home Construction Index	34	Monthly	Goldman Sachs International	1/16/26		(68,258)		—		(68,258)
1 Day-SOFR	USD	588,025	Monthly	S&P Homebuilders Select Industry Index	40	Monthly	Goldman Sachs International	1/16/26		(44,620)		—		(44,620)
1 Day-SOFR	USD	184,924	Monthly	ICE Semiconductor Gross Total Return Index	129	Monthly	Goldman Sachs International	1/20/26		(9,474)		—		(9,474)
DKK-CIBOR-DKNA13+35BP	DKK	4,202,202	Monthly	OMX Copenhagen 25 NI Index+35BP	4,169	Monthly	Morgan Stanley & Co. LLC	1/16/26		(20,050)		—		(20,050)
iShares MSCI ACWI ex US ETF+20BP		40,709	Monthly	1 Day-SOFR-20BP	USD 2,214,570	Monthly	Morgan Stanley & Co. LLC	1/16/26		91,188		—		91,188
1 Day-SOFR+40BP	USD	2,207,001	Monthly	Vanguard FTSE All-World Small Cap Index+40BP	18,481	Monthly	Morgan Stanley & Co. LLC	1/16/26		(91,296)		—		(91,296)
FTSE EPRA/Nareit Developed Index		222	Monthly	1 Day-SOFR	USD 1,329,841	Monthly	Morgan Stanley & Co. LLC	1/16/26		37,658		—		37,658
DKK-CIBOR-DKNA13+35BP	DKK	4,202,202	Monthly	OMX Copenhagen 25 NI Index+35BP	4,169	Monthly	Morgan Stanley & Co. LLC	1/16/26		(20,050)		—		(20,050)
1 Day-SOFR+42BP	USD	93,856	Monthly	Xtrackers FTSE Vietnam UCITS ETF+42BP	3,709	Monthly	Morgan Stanley & Co. LLC	1/16/26		(2,606)		—		(2,606)
FTSE Nareit All Equity REITs Index		53	Monthly	1 Day-SOFR	USD 1,379,566	Monthly	Morgan Stanley & Co. LLC	1/16/26		49,204		—		49,204
FTSE Nareit All Equity REITs Index		52	Monthly	1 Day-SOFR	USD 1,353,537	Monthly	Morgan Stanley & Co. LLC	1/16/26		48,275		—		48,275
FTSE EPRA/Nareit Developed Index		226	Monthly	1 Day-SOFR	USD 1,353,802	Monthly	Morgan Stanley & Co. LLC	1/16/26		38,337		—		38,337
1 Day-SOFR	USD	2,778,419	Monthly	S&P Homebuilders Select Industry Index	189	Monthly	Morgan Stanley & Co. LLC	1/16/26		(211,899)		—		(211,899)
1 Day-SOFR	USD	2,763,718	Monthly	S&P Homebuilders Select Industry Index	188	Monthly	Morgan Stanley & Co. LLC	1/16/26		(210,778)		—		(210,778)
									$	(435,224)	$	—	$	(435,224)

Currency Legend

AUD Australian Dollar

BRL Brazilian Real

CAD Canadian Dollar

CNH Offshore Chinese Yuan

DKK Danish Krone

EUR Euro

GBP British Pound

INR Indian Rupee

JPY Japanese Yen

MXN Mexican Peso

NOK Norwegian Krone

SEK Swedish Krona

TRY New Turkish Lira

USD U.S. Dollar

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.8%
COMMON STOCK — 96.5%
Communication Services — 3.2%
Advantage Solutions, Inc. (a)		53,503	$	156,229
AST SpaceMobile, Inc. (a) (b)		14,843		313,187
Atlanta Braves Holdings, Inc. Class C (a)		7,696		294,449
ESC GCI Liberty, Inc. (a) (c) (d)		29,586		—
Liberty Media Corp-Liberty Formula One Class C (a)		22,258		2,062,426
Liberty Media Corp-Liberty Live Class C (a)		30,400		2,069,024
Madison Square Garden Sports Corp. (a)		2,439		550,434
Match Group, Inc. (a)		24,355		796,652
New York Times Co. Class A		32,282		1,680,276
News Corp. Class A		41,872		1,153,153
News Corp. Class B		12,732		387,435
Pinterest, Inc. Class A (a)		30,430		882,470
Reddit, Inc. Class A (a)		11,396		1,862,562
Roku, Inc. (a)		5,800		431,172
Spotify Technology SA (a)		3,130		1,400,299
Trade Desk, Inc. Class A (a)		37,800		4,442,634
Vimeo, Inc. (a)		27,317		174,829
				18,657,231
Consumer Discretionary — 9.2%
Abercrombie & Fitch Co. Class A (a)		1,280		191,322
Advance Auto Parts, Inc.		40,157		1,899,025
Aramark		21,617		806,530
Asbury Automotive Group, Inc. (a)		1,417		344,374
Bath & Body Works, Inc.		67,582		2,620,154
Birkenstock Holding PLC (a)		11,665		660,939
Boot Barn Holdings, Inc. (a)		991		150,454
Bright Horizons Family Solutions, Inc. (a)		16,013		1,775,041
Brinker International, Inc. (a)		2,199		290,906
Burlington Stores, Inc. (a)		11,251		3,207,210
Caesars Entertainment, Inc. (a)		7,365		246,138
Carvana Co. (a)		3,790		770,734
Cava Group, Inc. (a)		2,855		322,044
Champion Homes, Inc. (a)		7,090		624,629
Chewy, Inc., Class A (a)		3,357		112,426
Compass Group PLC		34,809		1,157,091
Domino's Pizza, Inc.		6,932		2,909,776
Dorman Products, Inc. (a)		3,429		444,227
DraftKings, Inc. Class A (a)		51,100		1,900,920
Duolingo, Inc. (a)		1,543		500,287
Dutch Bros, Inc. Class A (a)		12,591		659,517
Etsy, Inc. (a)		10		529
Figs, Inc. Class A (a)		61,902		383,173
Five Below, Inc. (a)		12,892		1,353,144

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Floor & Decor Holdings, Inc. Class A (a)		8,961	$	893,412
Framebridge Expense Fund Payment (Acquired 5/19/20, Cost $108) (a) (c) (d) (e)		108		103
Global-e Online Ltd. (a)		2,500		136,325
Grand Canyon Education, Inc. (a)		1,251		204,914
Group 1 Automotive, Inc.		1,167		491,867
Hilton Worldwide Holdings, Inc.		10,400		2,570,464
Installed Building Products, Inc.		1,517		265,854
International Game Technology PLC		5,000		88,300
Kontoor Brands, Inc.		1,384		118,207
LCI Industries		1,654		171,007
Lululemon Athletica, Inc. (a)		730		279,159
Marriott Vacations Worldwide Corp.		4,318		387,756
Meritage Home Corp.		3,000		461,460
Modine Manufacturing Co. (a)		5,257		609,444
Moncler SpA		4,208		223,505
Monro, Inc.		15,356		380,829
Norwegian Cruise Line Holdings Ltd. (a)		15,694		403,807
Ollie's Bargain Outlet Holdings, Inc. (a)		1,656		181,713
On Holding AG, Class A (a)		12,925		707,902
Papa John's International, Inc.		14,753		605,906
Pax Labs, Inc., Class A (Acquired 4/18/19, Cost $218,578) (a) (c) (d) (e)		58,048		23,800
Peloton Interactive, Inc. Class A (a)		91,304		794,345
Planet Fitness, Inc. Class A (a)		24,314		2,403,925
Pool Corp.		382		130,239
PulteGroup, Inc.		6,133		667,884
Puma SE		33,752		1,543,966
Rad Power Bikes, Inc., Class A (Acquired 1/22/21, Cost $69,082) (a) (c) (d) (e)		39,882		7,976
Ralph Lauren Corp.		5,012		1,157,672
Red Rock Resorts, Inc. Class A		5,751		265,926
RH (a)		1,114		438,459
Ross Stores, Inc.		15,700		2,374,939
Savers Value Village, Inc. (a) (b)		29,599		303,390
Shake Shack, Inc. Class A (a)		3,310		429,638
Skechers USA, Inc. Class A (a)		3,902		262,370
Steven Madden Ltd.		7,575		322,089
Strategic Education, Inc.		11,805		1,102,823
Taylor Morrison Home Corp. (a)		2,169		132,764
Texas Roadhouse, Inc.		990		178,626
TopBuild Corp. (a)		1,390		432,763
Tractor Supply Co.		7,320		388,399
Ulta Beauty, Inc. (a)		3,337		1,451,361
Under Armour, Inc. Class A (a)		19,124		158,347
United Parks & Resorts, Inc. (a)		863		48,492
Urban Outfitters, Inc. (a)		5,008		274,839
VF Corp.		72,556		1,557,052
Victoria's Secret & Co. (a)		8,875		367,602
Viking Holdings Ltd. (a)		23,698		1,044,134
Visteon Corp. (a)		2,216		196,604
Watches of Switzerland Group PLC (a) (f)		16,558		115,219
Wingstop, Inc.		1,669		474,330
Wyndham Hotels & Resorts, Inc.		5,694		573,898
Yum! Brands, Inc.		16,476		2,210,420
				54,346,815
Consumer Staples — 3.3%
BellRing Brands, Inc. (a)		12,690		956,065

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Boston Beer Co., Inc. Class A (a)		1,843	$	552,863
Casey's General Stores, Inc.		4,400		1,743,412
Celsius Holdings, Inc. (a)		1,600		42,144
Coca-Cola Consolidated, Inc.		6		7,560
Constellation Brands, Inc. Class A		7,134		1,576,614
Dollar General Corp.		4,137		313,667
Dollar Tree, Inc. (a)		26,967		2,020,907
Farmer's Business Network, Inc. (Acquired 7/31/20, Cost $48,230) (a) (c) (d) (e)		1,459		5,107
Flowers Foods, Inc.		45,605		942,199
Grocery Outlet Holding Corp. (a)		1,176		18,357
Interparfums, Inc.		2,744		360,864
Kenvue, Inc.		146,095		3,119,128
Lamb Weston Holdings, Inc.		15,528		1,037,736
Maplebear, Inc. (a)		13,200		546,744
McCormick & Co., Inc.		9,000		686,160
Nomad Foods Ltd.		21,861		366,828
Olaplex Holdings, Inc. (a)		121,436		210,084
Post Holdings, Inc. (a)		6,919		791,949
Primo Brands Corp.		5,781		177,881
Reynolds Consumer Products, Inc.		22,500		607,275
Simply Good Foods Co. (a)		14,762		575,423
TreeHouse Foods, Inc. (a)		18,589		653,032
Tyson Foods, Inc. Class A		30,110		1,729,518
Utz Brands, Inc.		25,566		400,364
				19,441,881
Energy — 5.8%
Advantage Energy Ltd. (a) (b)		26,731		183,358
Antero Resources Corp. (a)		8,320		291,616
Baker Hughes Co.		35,812		1,469,008
Cactus, Inc. Class A		14,161		826,436
ChampionX Corp.		7,305		198,623
Cheniere Energy, Inc.		13,180		2,831,987
DT Midstream, Inc. (a)		3,626		360,533
Enerflex Ltd.		60,067		597,975
EQT Corp.		41,700		1,922,787
Expand Energy Corp. (b)		47,447		4,723,349
Expro Group Holdings NV (a)		47,667		594,407
Gulfport Energy Corp. (a)		1,650		303,930
Kimbell Royalty Partners LP		9,859		160,012
Kinder Morgan, Inc.		48,551		1,330,297
Liberty Energy, Inc.		11,673		232,176
Magnolia Oil & Gas Corp. Class A		36,594		855,568
Matador Resources Co.		20,893		1,175,440
PBF Energy, Inc. Class A		7,194		191,001
Permian Resources Corp.		103,864		1,493,564
Range Resources Corp.		61,723		2,220,793
Solaris Oilfield Infrastructure, Inc.		12,333		354,944
South Bow Corp. (SOBO CN) (b)		22,150		522,681
Suncor Energy, Inc. (SU US)		29,592		1,055,843
TechnipFMC PLC		225,679		6,531,150
Tidewater, Inc. (a)		13,586		743,290
Viper Energy, Inc.		30,817		1,512,190
Weatherford International PLC		24,349		1,744,119
				34,427,077

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Financials — 15.5%
Allstate Corp.		6,534	$	1,259,690
Annaly Capital Management, Inc.		59,959		1,097,250
Apollo Global Management, Inc.		5,446		899,461
Assurant, Inc.		18,577		3,960,988
Axis Capital Holdings Ltd.		8,500		753,270
Baldwin Insurance Group, Inc. (a)		9,830		381,011
Banc of California, Inc.		55,898		864,183
BankUnited, Inc.		12,919		493,118
Blue Foundry Bancorp (a)		15,598		153,016
Bowhead Specialty Holdings, Inc. (a)		2,607		92,601
Cadence Bank		21,407		737,471
Capitol Federal Financial, Inc.		29,440		173,990
Cathay General Bancorp		6,676		317,844
Cboe Global Markets, Inc.		13,253		2,589,636
Coastal Financial Corp. (a)		7,344		623,579
Columbia Banking System, Inc.		65,701		1,774,584
Columbia Financial, Inc. (a) (b)		7,257		114,733
Corebridge Financial, Inc.		43,987		1,316,531
Corpay, Inc. (a)		17,668		5,979,205
CRB Group, Inc. (Acquired 4/14/22, Cost $73,283) (a) (c) (d) (e)		697		44,099
CrossFirst Bankshares, Inc. (a)		14,314		216,857
DigitalBridge Group, Inc.		22,876		258,041
Dime Community Bancshares, Inc.		8,839		271,667
East West Bancorp, Inc.		18,247		1,747,333
Eastern Bankshares, Inc.		48,344		833,934
Edenred SE		26,380		861,772
Encore Capital Group, Inc. (a)		6,417		306,540
Equity Bancshares, Inc. Class A		6,462		274,118
FB Financial Corp.		22,939		1,181,588
Fifth Third Bancorp		46,967		1,985,765
First American Financial Corp.		2,892		180,576
First Bancshares, Inc.		8,001		280,035
Five Star Bancorp		8,883		267,289
Flagstar Financial, Inc. (b)		16,687		155,690
Flywire Corp. (a)		5,406		111,472
FS Bancorp, Inc.		6,124		251,451
Global Payments, Inc.		14,432		1,617,250
Goosehead Insurance, Inc. Class A (a)		6,301		675,593
Grasshopper Bancorp, Inc. (Acquired 5/02/19, Cost $83,390) (a) (c) (d) (e)		8,339		37,526
HA Sustainable Infrastructure Capital, Inc. (b)		26,300		705,629
Hamilton Lane, Inc. Class A		6,928		1,025,690
Hanover Insurance Group, Inc.		10,988		1,699,404
HarborOne Bancorp, Inc.		28,977		342,798
Helix Acquisition Corp. II (a)		3,237		33,989
Home BancShares, Inc.		36,609		1,036,035
Horace Mann Educators Corp.		12,655		496,456
Houlihan Lokey, Inc.		6,307		1,095,274
Intercontinental Exchange, Inc.		10,100		1,505,001
James River Group Holdings Ltd.		24,303		118,356
John Marshall Bancorp, Inc.		11,910		239,153
Kearny Financial Corp.		12,626		89,392
KeyCorp.		54,257		929,965
KKR & Co., Inc.		1,200		177,492
Live Oak Bancshares, Inc.		33,059		1,307,483
Markel Group, Inc. (a)		430		742,279
MarketAxess Holdings, Inc.		5,955		1,346,068
Marqeta, Inc. Class A (a)		202,627		767,956

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Morningstar, Inc.		3,771	$	1,269,922
National Bank Holdings Corp. Class A		12,645		544,494
OneMain Holdings, Inc.		16,997		886,054
Open Lending Corp. (a)		75,053		448,066
Origin Bancorp, Inc.		13,166		438,296
Oscar Health, Inc. Class A (a)		57,282		769,870
OTC Markets Group, Inc. Class A		3,853		197,322
Pacific Premier Bancorp, Inc.		26,404		657,988
PennyMac Financial Services, Inc.		21,989		2,245,956
PennyMac Mortgage Investment Trust		31,960		402,376
Pinnacle Financial Partners, Inc.		19,929		2,279,678
Ponce Financial Group, Inc. (a)		15,954		207,402
Popular, Inc.		28,834		2,712,126
PRA Group, Inc. (a)		10,388		217,005
Preferred Bank		6,252		540,048
Primerica, Inc.		902		244,821
ProAssurance Corp. (a)		23,672		376,622
Prosperity Bancshares, Inc.		12,996		979,249
Raymond James Financial, Inc.		11,250		1,747,462
RenaissanceRe Holdings Ltd.		6,705		1,668,271
RLI Corp.		2,881		474,875
Root, Inc. Class A (a)		2,330		169,135
Ryan Specialty Holdings, Inc.		9,800		628,768
Selective Insurance Group, Inc.		4,380		409,618
SLM Corp.		12,859		354,651
Southern First Bancshares, Inc. (a)		4,578		181,976
SouthState Corp.		17,789		1,769,650
Sprott, Inc.		1,013		42,718
Stash Financial, Inc. (Acquired 1/06/21-1/26/21, Cost $15,690) (a) (c) (d) (e)		487		2,333
StepStone Group, Inc. Class A		29,412		1,702,367
Stifel Financial Corp.		2,670		283,234
StoneX Group, Inc. (a)		1,966		192,609
Synovus Financial Corp.		4,809		246,365
Texas Capital Bancshares, Inc. (a)		16,971		1,327,132
TMX Group Ltd.		32,582		1,003,674
Toast, Inc., Class A (a)		91,235		3,325,516
Towne Bank		24,502		834,538
TPG, Inc.		4,460		280,266
Tradeweb Markets, Inc. Class A		7,400		968,808
TWFG, Inc. (a)		7,749		238,669
Voya Financial, Inc.		16,400		1,128,812
Walker & Dunlop, Inc.		6,663		647,710
Webster Financial Corp.		38,064		2,101,894
Western Alliance Bancorp		34,278		2,863,584
Western Union Co.		165,672		1,756,123
White Mountains Insurance Group Ltd.		286		556,287
WSFS Financial Corp.		12,635		671,298
				91,794,815
Health Care — 15.2%
Acadia Healthcare Co., Inc. (a)		17,280		685,152
ACELYRIN, Inc. (a)		64,019		201,020
Agilent Technologies, Inc.		22,500		3,022,650
Agios Pharmaceuticals, Inc. (a)		1,703		55,961
Akero Therapeutics, Inc. (a)		9,047		251,687
Alcon AG		17,500		1,485,575
Align Technology, Inc. (a)		5,300		1,105,103
Alignment Healthcare, Inc. (a)		42,088		473,490

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Alkermes PLC (a)		51,860	$	1,491,494
Alnylam Pharmaceuticals, Inc. (a)		13,110		3,084,914
AnaptysBio, Inc. (a)		2,490		32,968
Applied Therapeutics, Inc. (a)		32,830		28,109
Arcellx, Inc. (a)		4,543		348,403
Argenx SE ADR (a)		4,149		2,551,635
Arrowhead Pharmaceuticals, Inc. (a)		12,148		228,382
Arvinas, Inc. (a)		16,644		319,065
Ascendis Pharma AS ADR (a)		10,413		1,433,558
Autolus Therapeutics PLC ADR (a)		9,351		21,975
Avanos Medical, Inc. (a)		16,865		268,491
Avantor, Inc. (a)		113,460		2,390,602
Avidity Biosciences, Inc. (a)		16,612		483,077
Baxter International, Inc.		58,741		1,712,888
BeiGene Ltd. ADR (a)		506		93,463
Bicara Therapeutics, Inc. (a)		2,112		36,791
Bio-Techne Corp.		24,147		1,739,308
Biogen, Inc. (a)		7,280		1,113,258
Black Diamond Therapeutics, Inc. (a) (b)		49,141		105,162
Blueprint Medicines Corp. (a)		10,698		933,080
BrightSpring Health Services, Inc. (a) (b)		7,262		123,672
Bruker Corp.		32,782		1,921,681
Cabaletta Bio, Inc. (a) (b)		18,364		41,686
Capsule, Corp. (Acquired 4/07/21, Cost $72,342) (a) (c) (d) (e)		4,992		6,440
Cargo Therapeutics, Inc. (a)		2,279		32,863
Celldex Therapeutics, Inc. (a)		13,276		335,484
Centessa Pharmaceuticals PLC ADR (a)		17,068		285,889
CG oncology, Inc. (a)		852		24,435
Concentra Group Holdings Parent, Inc.		141,843		2,805,654
Cooper Cos., Inc. (a)		28,997		2,665,694
Crinetics Pharmaceuticals, Inc. (a)		11,913		609,112
CRISPR Therapeutics AG (a) (b)		11,838		465,944
Cytokinetics, Inc. (a)		41,624		1,957,993
Day One Biopharmaceuticals, Inc. (a)		4,990		63,223
DENTSPLY SIRONA, Inc.		79,585		1,510,523
Disc Medicine, Inc. (a)		1,796		113,866
Doximity, Inc. Class A (a)		11,758		627,760
Dyne Therapeutics, Inc. (a)		3,479		81,965
Elanco Animal Health, Inc. (a)		57,503		696,361
Encompass Health Corp.		4,941		456,301
Enovis Corp. (a)		16,213		711,426
Ensign Group, Inc.		3,917		520,413
Entrada Therapeutics, Inc. (a)		7,135		123,364
Erasca, Inc. (a)		74,944		188,109
Exact Sciences Corp. (a)		29,545		1,660,134
EyePoint Pharmaceuticals, Inc. (a)		3,851		28,690
Generation Bio Co. (a)		16,354		17,335
Geron Corp. (a)		7,484		26,493
Ginkgo Bioworks, Inc., Earnout Shares 600 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e)		21		—
Ginkgo Bioworks, Inc., Earnout Shares 700 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e)		21		—
Ginkgo Bioworks, Inc., Earnout Shares 800 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e)		21		—
Gyroscope Therapeutics, Milestone Payment 1 (Acquired 2/18/22, Cost $31,900) (a) (c) (d) (e)		31,900		—
Gyroscope Therapeutics, Milestone Payment 2 (Acquired 2/18/22, Cost $21,260) (a) (c) (d) (e)		21,260		—

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Gyroscope Therapeutics, Milestone Payment 3 (Acquired 2/18/22, Cost $21,260) (a) (c) (d) (e)		21,260	$	—
Haemonetics Corp. (a)		7,316		571,233
HealthEquity, Inc. (a)		3,815		366,049
Hologic, Inc. (a)		48,360		3,486,272
Humana, Inc.		3,722		944,309
Ideaya Biosciences, Inc. (a)		7,274		186,942
IGM Biosciences, Inc. (a) (b)		6,292		38,444
Immatics NV (a)		55,250		392,827
Immunocore Holdings PLC ADR (a) (b)		29,382		866,769
Immunome, Inc. (a)		26,522		281,664
Immunovant, Inc. (a)		25,688		636,292
Innovage Holding Corp. (a)		31,952		125,571
Insmed, Inc. (a)		24,689		1,704,529
Ionis Pharmaceuticals, Inc. (a)		47,846		1,672,696
Iovance Biotherapeutics, Inc. (a)		27,752		205,365
Janux Therapeutics, Inc. (a)		943		50,488
Jasper Therapeutics, Inc. (a)		499		10,669
Keros Therapeutics, Inc. (a)		698		11,049
Kymera Therapeutics, Inc. (a)		11,313		455,122
Lantheus Holdings, Inc. (a)		7,586		678,644
Legend Biotech Corp. ADR (a)		1,401		45,589
Madrigal Pharmaceuticals, Inc. (a) (b)		648		199,953
Masimo Corp. (a)		7,680		1,269,504
Merus NV (a)		4,632		194,776
Mettler-Toledo International, Inc. (a)		1,010		1,235,917
Mirum Pharmaceuticals, Inc. (a)		2,714		112,224
Molina Healthcare, Inc. (a)		3,608		1,050,108
Monte Rosa Therapeutics, Inc. (a) (b)		12,441		86,341
MoonLake Immunotherapeutics (a)		2,408		130,393
Natera, Inc. (a)		2,450		387,835
Neogen Corp. (a)		33,410		405,597
NeoGenomics, Inc. (a)		29,415		484,759
Neumora Therapeutics, Inc. (a) (b)		22,089		234,143
Neurocrine Biosciences, Inc. (a)		816		111,384
Novocure Ltd. (a)		7,629		227,344
Nurix Therapeutics, Inc. (a)		14,588		274,838
Nuvalent, Inc., Class A (a)		1,651		129,240
Pacific Biosciences of California, Inc. (a) (b)		30,073		55,034
Pennant Group, Inc. (a)		4,370		115,892
Penumbra, Inc. (a)		3,064		727,639
Perrigo Co. PLC		46,195		1,187,673
Phreesia, Inc. (a)		5,092		128,115
Pliant Therapeutics, Inc. (a)		8,903		117,252
Praxis Precision Medicines, Inc. (a)		1,549		119,211
Prime Medicine, Inc. (a) (b)		25,145		73,423
Privia Health Group, Inc. (a)		16,947		331,314
PROCEPT BioRobotics Corp. (a)		3,467		279,163
Progyny, Inc. (a)		14,541		250,832
Prothena Corp. PLC (a)		6,683		92,560
Quidelortho Corp. (a)		41,500		1,848,825
RadNet, Inc. (a)		4,155		290,185
Rapport Therapeutics, Inc. (a)		6,642		117,829
Relay Therapeutics, Inc. (a)		3,313		13,650
Repligen Corp. (a)		5,712		822,185
Replimune Group, Inc. (a)		16,727		202,564
REVOLUTION Medicines, Inc. (a)		6,842		299,269
Rocket Pharmaceuticals, Inc. (a)		3,563		44,787

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sarepta Therapeutics, Inc. (a)		5,186	$	630,566
Sartorius Stedim Biotech		799		155,818
Scholar Rock Holding Corp. (a)		14,945		645,923
Select Medical Holdings Corp.		118,643		2,236,421
Soleno Therapeutics, Inc. (a)		1,245		55,963
Sotera Health Co. (a)		37,000		506,160
SpringWorks Therapeutics, Inc. (a)		5,212		188,310
Stevanato Group SpA (b)		15,238		332,036
Structure Therapeutics, Inc. ADR (a) (b)		1,388		37,643
Tango Therapeutics, Inc. (a)		16,343		50,500
Teleflex, Inc.		16,970		3,020,321
Terns Pharmaceuticals, Inc. (a)		3,868		21,429
Third Harmonic Bio, Inc. (a)		14,561		149,833
Ultragenyx Pharmaceutical, Inc. (a)		2,742		115,356
Vaxcyte, Inc. (a)		14,110		1,155,045
Veeva Systems, Inc. Class A (a)		21,921		4,608,890
Vera Therapeutics, Inc. (a)		11,779		498,134
Verve Therapeutics, Inc. (a)		11,168		62,987
Viatris, Inc.		80,628		1,003,819
Viridian Therapeutics, Inc. (a)		2,087		40,008
WaVe Life Sciences Ltd. (a)		6,103		75,494
West Pharmaceutical Services, Inc.		2,611		855,259
Xencor, Inc. (a)		5,720		131,446
Xenon Pharmaceuticals, Inc. (a)		6,067		237,826
Zenas Biopharma, Inc. (a)		1,296		10,614
Zimmer Biomet Holdings, Inc.		27,876		2,944,542
				89,952,395
Industrials — 17.2%
AAON, Inc.		2,451		288,434
AGCO Corp.		15,865		1,483,060
Air Lease Corp.		4,232		204,025
Alamo Group, Inc.		520		96,673
Allegiant Travel Co. (b)		5,038		474,177
API Group Corp. (a)		75,681		2,722,246
Arcosa, Inc.		8,439		816,389
Atkore, Inc.		1,200		100,140
Atmus Filtration Technologies, Inc.		12,771		500,368
AZZ, Inc.		10,434		854,753
Beacon Roofing Supply, Inc. (a)		9,062		920,518
Bombas LLC (Acquired 2/12/21, Cost $183,470) (a) (c) (d) (e)		41,514		125,372
Booz Allen Hamilton Holding Corp.		6,787		873,487
Brady Corp. Class A		5,572		411,492
BrightView Holdings, Inc. (a)		30,690		490,733
Broadridge Financial Solutions, Inc.		6,810		1,539,673
BWX Technologies, Inc.		11,215		1,249,239
Casella Waste Systems, Inc. Class A (a)		6,130		648,615
Clarivate PLC (a) (b)		167,791		852,378
Conduent, Inc. (a)		25,651		103,630
Covenant Logistics Group, Inc.		985		53,692
Crane Co.		4,828		732,649
CSW Industrials, Inc.		499		176,047
Curtiss-Wright Corp.		189		67,070
Custom Truck One Source, Inc. (a)		38,198		183,732
Dayforce, Inc. (a) (b)		33,074		2,402,495
Diploma PLC		2,542		135,204
Douglas Dynamics, Inc.		5,587		132,021
Enerpac Tool Group Corp.		6,784		278,755

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Enpro, Inc.		4,701	$	810,688
Equifax, Inc.		7,000		1,783,950
Esab Corp.		52,396		6,284,376
ESCO Technologies, Inc.		3,873		515,922
Federal Signal Corp.		5,298		489,482
Ferguson Enterprises, Inc.		5,680		985,878
First Advantage Corp. (a)		5,482		102,678
Fortive Corp.		46,837		3,512,775
FTAI Aviation Ltd.		3,417		492,185
FTI Consulting, Inc. (a)		3,838		733,557
GMS, Inc. (a)		4,231		358,916
Graco, Inc.		4,658		392,623
Helios Technologies, Inc.		3,403		151,910
Herc Holdings, Inc.		2,417		457,611
Hexcel Corp.		13,643		855,416
Hillman Solutions Corp. (a)		9,949		96,903
Howmet Aerospace, Inc.		3,400		371,858
Hubbell, Inc.		2,453		1,027,537
IDEX Corp.		12,421		2,599,591
Ingersoll Rand, Inc.		39,925		3,611,616
ITT, Inc.		2,550		364,344
JB Hunt Transport Services, Inc.		9,440		1,611,030
John Bean Technologies Corp.		2,796		355,372
L3Harris Technologies, Inc.		9,368		1,969,903
Landstar System, Inc.		3,619		621,961
Leidos Holdings, Inc.		1,021		147,085
Leonardo DRS, Inc. (a)		22,816		737,185
Loar Holdings, Inc. (a)		3,988		294,753
Matson, Inc.		2,053		276,827
McGrath RentCorp		3,509		392,376
MDA Space Ltd. (a)		2,927		60,130
Middleby Corp. (a)		7,442		1,008,019
Moog, Inc. Class A		2,628		517,296
MSA Safety, Inc.		5,461		905,270
MYR Group, Inc. (a)		1,917		285,192
Norfolk Southern Corp.		8,309		1,950,122
Old Dominion Freight Line, Inc.		10,407		1,835,795
Parsons Corp. (a)		7,567		698,056
Paycor HCM, Inc. (a)		38,266		710,600
Paylocity Holding Corp. (a)		20,298		4,048,842
Quanta Services, Inc.		2,300		726,915
RBC Bearings, Inc. (a)		10,390		3,108,065
Rentokil Initial PLC		1,945		9,662
Robert Half, Inc.		143		10,076
Rush Enterprises, Inc. Class A		11,322		620,332
Saia, Inc. (a)		8,990		4,097,013
Sensata Technologies Holding PLC		45,603		1,249,522
Shyft Group, Inc.		17,911		210,275
Simpson Manufacturing Co., Inc.		885		146,760
SiteOne Landscape Supply, Inc. (a)		20,233		2,666,102
Southwest Airlines Co.		64,720		2,175,886
Spirax Group PLC		221		18,858
SPX Technologies, Inc. (a)		5,542		806,472
SS&C Technologies Holdings, Inc.		19,248		1,458,614
Standardaero, Inc. (a)		38,676		957,618
Stanley Black & Decker, Inc.		23,362		1,875,735
Sun Country Airlines Holdings, Inc. (a)		11,114		162,042
Tetra Tech, Inc.		7,493		298,521

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Textron, Inc.		44,266	$	3,385,906
Thermon Group Holdings, Inc. (a)		17,740		510,380
Toro Co.		31,068		2,488,547
Transcat, Inc. (a)		2,387		252,401
TransUnion		9,014		835,688
Trex Co., Inc. (a)		6,772		467,471
UFP Industries, Inc.		7,030		791,930
UL Solutions, Inc. Class A		14,655		730,991
UniFirst Corp.		228		39,009
United Rentals, Inc.		1,250		880,550
Upwork, Inc. (a)		16,432		268,663
Valmont Industries, Inc.		802		245,949
Veralto Corp.		8,800		896,280
Verisk Analytics, Inc.		4,000		1,101,720
Verra Mobility Corp. (a)		37,096		896,981
VSE Corp. (b)		9,967		947,862
Waste Connections, Inc.		4,000		686,320
Weir Group PLC		325		8,849
WillScot Holdings Corp. (a)		37,709		1,261,366
XPO, Inc. (a)		4,900		642,635
Zurn Elkay Water Solutions Corp.		9,928		370,314
				101,650,977
Information Technology — 14.9%
Alarm.com Holdings, Inc. (a)		2,506		152,365
Allegro MicroSystems, Inc. (a)		11,456		250,428
Amphenol Corp. Class A		15,100		1,048,695
Amplitude, Inc. Class A (a)		40,506		427,338
Apiture, Inc. (Acquired 7/01/20-6/30/22, Cost $97,636) (a) (c) (d) (e)		6,130		133,511
Appfolio, Inc. Class A (a)		47		11,596
ASGN, Inc. (a)		1,124		93,674
Astera Labs, Inc. (a)		245		32,450
Atlassian Corp. Class A (a)		5,100		1,241,238
Aurora Innovation, Inc. (a)		91,827		578,510
Bill Holdings, Inc. (a)		23,091		1,956,039
Braze, Inc. Class A (a)		10,476		438,735
CCC Intelligent Solutions Holdings, Inc. (a)		196,505		2,305,004
Checkr, Inc. (Acquired 6/29/18-12/02/19, Cost $116,452) (a) (c) (d) (e)		15,444		94,826
Coalition, Inc. (Acquired 9/13/21, Cost $4,230) (a) (c) (d) (e)		256		2,253
Cognex Corp.		13,101		469,802
Corning, Inc.		100,949		4,797,096
CTS Corp.		5,867		309,367
Databricks, Inc. (Acquired 7/24/20-8/28/20, Cost $24,732) (a) (c) (d) (e)		1,545		142,913
Datadog, Inc. Class A (a)		6,270		895,920
Descartes Systems Group, Inc. (a)		14,690		1,668,784
DocuSign, Inc. (a)		19,502		1,754,010
Endava PLC Sponsored ADR (a)		14,138		436,864
Enfusion, Inc. Class A (a)		6,735		69,370
Entegris, Inc.		9,775		968,311
Fabrinet (a)		40		8,795
Fair Isaac Corp. (a)		870		1,732,109
FARO Technologies, Inc. (a)		2,586		65,581
Fortinet, Inc. (a)		41,315		3,903,441
Gartner, Inc. (a)		370		179,254
Globant SA (a)		8,600		1,844,012
GoDaddy, Inc. Class A (a)		10,989		2,168,899
Grid Dynamics Holdings, Inc. (a)		4,207		93,564
Gusto, Inc. (Acquired 8/18/20-11/09/20, Cost $204,799) (a) (c) (d) (e)		15,332		285,022

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
HubSpot, Inc. (a)		2,675	$	1,863,860
Insight Enterprises, Inc. (a)		2,949		448,543
Intapp, Inc. (a)		14,698		941,995
JFrog Ltd. (a)		7,175		211,017
Keysight Technologies, Inc. (a)		22,078		3,546,389
Lattice Semiconductor Corp. (a)		78,670		4,456,655
Littelfuse, Inc.		3,087		727,452
MACOM Technology Solutions Holdings, Inc. (a)		15,060		1,956,445
Marvell Technology, Inc.		49,355		5,451,260
Microchip Technology, Inc.		45,510		2,609,998
Mirion Technologies, Inc. (a)		100,817		1,759,257
MKS Instruments, Inc.		16,968		1,771,290
Monday.com Ltd. (a)		5,444		1,281,735
MongoDB, Inc. (a)		2,006		467,017
Monolithic Power Systems, Inc.		1,938		1,146,715
nCino, Inc. (a)		13,889		466,393
Novanta, Inc. (a)		7,021		1,072,598
NXP Semiconductors NV		3,840		798,144
Onestream, Inc. (a)		15,412		439,550
Onto Innovation, Inc. (a)		696		116,002
PAR Technology Corp. (a)		18,312		1,330,733
Power Integrations, Inc.		4,528		279,378
Procore Technologies, Inc. (a)		8,420		630,911
PTC, Inc. (a)		16,398		3,015,100
Pure Storage, Inc. Class A (a)		18,100		1,111,883
QXO, Inc. (b)		48,958		778,432
Rambus, Inc. (a)		16,919		894,338
Roper Technologies, Inc.		3,208		1,667,679
Samsara, Inc. Class A (a)		26,463		1,156,168
ServiceTitan, Inc. Class A (a)		2,470		254,089
ServiceTitan, Inc., Lockup Shares (Acquired 5/04/21, Cost $186,853) (a) (c) (e)		5,843		601,069
SimilarWeb Ltd. (a)		4,083		57,856
Socure, Inc. (Acquired 12/22/21, Cost $62,185) (a) (c) (d) (e)		3,870		16,099
Tanium, Inc., Class B (Acquired 9/24/20, Cost $30,277) (a) (c) (d) (e)		2,657		13,976
TE Connectivity PLC		11,211		1,602,837
Teledyne Technologies, Inc. (a)		5,182		2,405,122
Themis Solutions, Inc. (Acquired 4/14/21, Cost $108,219) (a) (c) (d) (e)		4,820		167,749
TTM Technologies, Inc. (a)		3,500		86,625
Tyler Technologies, Inc. (a)		4,160		2,398,822
Varonis Systems, Inc. (a)		3,547		157,593
Vertex, Inc. Class A (a)		5,357		285,796
Viavi Solutions, Inc. (a)		59,263		598,556
Vontier Corp.		3,262		118,965
Western Digital Corp. (a)		30,968		1,846,622
Wolfspeed, Inc. (a) (b)		75,157		500,546
Workiva, Inc. (a)		10,431		1,142,194
Zebra Technologies Corp. Class A (a)		3,921		1,514,369
Zoom Communications, Inc. (a)		17,500		1,428,175
				88,153,773
Materials — 4.3%
Avery Dennison Corp.		11,600		2,170,708
Ball Corp.		40,748		2,246,437
Cabot Corp.		1,471		134,317
Capstone Copper Corp. (a) (b)		63,048		389,924
Carpenter Technology Corp.		346		58,720
Celanese Corp.		8,160		564,754

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Constellium SE (a)		102,536	$	1,053,045
DS Smith PLC		263,867		1,790,247
DuPont de Nemours, Inc.		16,509		1,258,811
Eagle Materials, Inc.		174		42,936
Element Solutions, Inc.		39,081		993,830
FMC Corp.		25,801		1,254,187
Franco-Nevada Corp.		10,756		1,263,977
Freeport-McMoRan, Inc.		15,465		588,907
HB Fuller Co.		8,587		579,451
Hudbay Minerals, Inc.		12,417		100,578
International Paper Co.		23,228		1,250,131
Knife River Corp. (a)		2,392		243,123
Louisiana-Pacific Corp.		2,987		309,304
Martin Marietta Materials, Inc.		3,241		1,673,977
Orion SA		7,203		113,735
Osisko Gold Royalties Ltd. (OR CN) (b)		9,150		165,692
Osisko Gold Royalties Ltd. (OR US)		10,474		189,579
PureCycle Technologies, Inc. (a)		8,186		83,907
Quaker Chemical Corp.		2,101		295,737
Reliance, Inc.		6,158		1,658,103
Royal Gold, Inc.		2,126		280,313
RPM International, Inc.		5,400		664,524
Sealed Air Corp.		28,590		967,200
Summit Materials, Inc. Class A (a)		31,215		1,579,479
US Steel Corp.		21,608		734,456
Warrior Met Coal, Inc.		10,193		552,868
West Fraser Timber Co. Ltd. (WFG (CN) (b)		4,225		366,081
West Fraser Timber Co. Ltd. (WFG US)		602		52,103
				25,671,141
Real Estate — 4.9%
American Assets Trust, Inc.		10,960		287,810
Apartment Investment & Management Co. Class A (a)		119,794		1,088,927
Apple Hospitality REIT, Inc.		32,880		504,708
Colliers International Group, Inc.		3,112		423,139
CoStar Group, Inc. (a)		17,553		1,256,619
CubeSmart		28,311		1,213,126
Curbline Properties Corp.		26,185		608,016
EastGroup Properties, Inc.		7,189		1,153,763
Empire State Realty Trust, Inc. Class A		10,205		105,316
Equity Residential		23,156		1,661,674
Essential Properties Realty Trust, Inc.		27,828		870,460
FirstService Corp.		6,842		1,238,539
Flagship Communities REIT		10,646		158,732
Highwoods Properties, Inc.		17,544		536,495
Howard Hughes Holdings, Inc. (a)		3,825		294,219
Independence Realty Trust, Inc.		72,428		1,436,971
Kilroy Realty Corp.		16,528		668,558
Landbridge Co. LLC Class A (b)		5,328		344,189
Lineage, Inc.		11,685		684,390
Macerich Co.		24,036		478,797
NETSTREIT Corp. (b)		37,573		531,658
Opendoor Technologies, Inc. (a) (b)		99,056		158,490
Pebblebrook Hotel Trust		40,613		550,306
Rayonier, Inc.		44,157		1,152,498
Regency Centers Corp.		22,706		1,678,655
Rexford Industrial Realty, Inc.		39,146		1,513,384
Ryman Hospitality Properties, Inc.		2,785		290,587

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Safehold, Inc.		23,526	$	434,760
Saul Centers, Inc.		6,942		269,350
St. Joe Co.		3,247		145,888
Sun Communities, Inc.		15,549		1,912,060
Terreno Realty Corp.		24,324		1,438,521
UMH Properties, Inc.		28,907		545,764
UNITE Group PLC		14,849		149,680
Vornado Realty Trust		31,445		1,321,948
Weyerhaeuser Co.		58,498		1,646,719
				28,754,716
Utilities — 3.0%
Ameren Corp.		22,931		2,044,069
Artesian Resources Corp. Class A		5,201		164,456
California Water Service Group		14,776		669,796
CenterPoint Energy, Inc.		24,949		791,632
Chesapeake Utilities Corp.		11,901		1,444,186
Constellation Energy Corp.		3,639		814,081
Dominion Energy, Inc.		24,248		1,305,997
FirstEnergy Corp.		52,705		2,096,605
Hawaiian Electric Industries, Inc. (a)		59,980		583,605
IDACORP, Inc.		9,931		1,085,260
MGE Energy, Inc.		5,132		482,203
Middlesex Water Co.		7,742		407,461
OGE Energy Corp.		24,056		992,310
ONE Gas, Inc.		11,774		815,350
PG&E Corp.		112,073		2,261,633
Talen Energy Corp. (a)		102		20,550
TXNM Energy, Inc.		31,381		1,543,004
				17,522,198
TOTAL COMMON STOCK (Cost $491,468,548)				570,373,019
PREFERRED STOCK — 1.3%
Consumer Discretionary — 0.0%
1661, Inc., Series F (Acquired 5/28/21, Cost $288,836) (a) (c) (d) (e)		49,629		44,170
Nuro, Inc., Series C (Acquired 10/30/20-3/02/21, Cost $282,254) (a) (c) (d) (e)		21,621		154,374
Nuro, Inc., Series D (Acquired 10/29/21, Cost $252,025) (a) (c) (d) (e)		12,090		86,323
OfferUp, Inc., Series F (Acquired 7/01/20, Cost $9,217) (a) (c) (d) (e)		4,025		2,415
				287,282
Consumer Staples — 0.0%
Epirus, Inc., Series C-2 (Acquired 1/28/21, Cost $324,592) (a) (c) (d) (e)		58,131		160,482
Farmer's Business Network, Inc., Series E (Acquired 2/11/19, Cost $191,081) (a) (c) (d) (e)		8,198		28,693
Farmer's Business Network, Inc., Series F (Acquired 7/31/20, Cost $124,028) (a) (c) (d) (e)		3,752		13,132
				202,307
Financials — 0.0%
CRB Group, Inc., Series D (Acquired 1/28/22, Cost $255,280) (a) (c) (d) (e)		2,428		153,620
Stash Financial, Inc., Series F (Acquired 4/24/20, Cost $126,801) (a) (c) (d) (e)		5,060		24,237

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Stash Financial, Inc., Series G (Acquired 1/26/21, Cost $174,908) (a) (c) (d) (e)		4,667	$	22,355
				200,212
Health Care — 0.5%
Capsule, Corp., Series 1 D (Acquired 4/07/21, Cost $72,328) (a) (c) (d) (e)		4,991		6,438
Caris Life Sciences, Inc., Series C (Acquired 8/14/20, Cost $125,312) (a) (c) (d) (e)		45,403		223,383
Caris Life Sciences, Inc., Series D (Acquired 5/11/21, Cost $378,132) (a) (c) (d) (e)		46,683		229,680
CelLink, Inc., Series D (Acquired 1/20/22, Cost $223,836) (a) (c) (d) (e)		10,749		21,283
Cleerly, Inc., Series C (Acquired 7/08/22, Cost $200,211) (a) (c) (d) (e)		16,995		200,201
Color Health, Inc., Series D (Acquired 12/17/20, Cost $43,490) (a) (c) (d) (e)		1,155		20,444
Color Health, Inc., Series D-1 (Acquired 1/13/20, Cost $56,632) (a) (c) (d) (e)		2,655		31,833
Color Health, Inc., Series E (Acquired 10/26/21, Cost $15,095) (a) (c) (d) (e)		151		5,966
DTX Company, Series A-1 (Acquired 2/04/22, Cost $31,212) (a) (c) (d) (e)		17,154		15,309
Eikon Therapeutics, Inc., Series B (Acquired 12/03/21, Cost $89,186) (a) (c) (d) (e)		5,042		26,823
Genesis Therapeutics, Inc., Series A (Acquired 11/24/20, Cost $25,262) (a) (c) (d) (e)		4,946		25,262
Honor Technology, Inc., Series D (Acquired 10/16/20, Cost $225,290) (a) (c) (d) (e)		93,556		159,981
Honor Technology, Inc., Series E (Acquired 9/29/21, Cost $116,646) (a) (c) (d) (e)		36,897		63,094
Inscripta, Inc., Series E (Acquired 3/30/21, Cost $148,812) (a) (c) (d) (e)		16,853		31,515
Insitro, Inc., Series B (Acquired 5/21/20, Cost $34,456) (a) (c) (d) (e)		5,530		101,150
Insitro, Inc., Series C (Acquired 4/07/21, Cost $62,208) (a) (c) (d) (e)		3,401		62,208
Kardium, Inc., Series D-5 (Acquired 11/29/18, Cost $29,906) (a) (c) (d) (e)		30,866		26,236
Kardium, Inc., Series D-6 (Acquired 1/08/21, Cost $145,349) (a) (c) (d) (e)		143,083		121,621
National Resilience, Inc., Series B (Acquired 10/23/20, Cost $263,720) (a) (c) (d) (e)		19,306		897,150
National Resilience, Inc., Series C (Acquired 6/09/21, Cost $315,045) (a) (c) (d) (e)		7,094		329,658
Ring Therapeutics, Inc., Series B (Acquired 4/12/21, Cost $50,885) (a) (c) (d) (e)		5,531		25,443
Sail Biomedicines, Inc., Series B (Acquired 7/28/21, Cost $109,340) (a) (c) (d) (e)		3,905		8,591
Sartorius AG 0.346%		2,083		464,288
Tessera Therapeutics, Inc., Series C (Acquired 2/25/22, Cost $34,499) (a) (c) (d) (e)		1,687		34,499
Treeline Biosciences, Inc., Series A (Acquired 4/09/21, Cost $40,640) (a) (c) (d) (e)		5,192		44,705
				3,176,761
Industrials — 0.1%
ABL Space Systems, Series A-8 (Acquired 3/24/21, Cost $328,985) (a) (c) (d) (e)		8,288		5,792
Haul Hub, Inc., Series B (Acquired 2/14/20-3/03/21, Cost $108,854) (a) (c) (d) (e)		7,466		33,373
Haul Hub, Inc., Series C (Acquired 4/14/22, Cost $43,061) (a) (c) (d) (e)		2,282		10,201
Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $505,509) (a) (c) (d) (e)		12,248		239,495
				288,861
Information Technology — 0.5%
Checkr, Inc., Series C (Acquired 4/10/18, Cost $106,628) (a) (c) (d) (e)		23,433		143,879
Checkr, Inc., Series D (Acquired 9/06/19, Cost $308,786) (a) (c) (d) (e)		30,627		188,050

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Coalition, Inc., Series E (Acquired 9/07/21, Cost $253,711) (a) (c) (d) (e)		15,355	$	135,124
Databricks, Inc., Series F (Acquired 10/22/19, Cost $104,923) (a) (c) (d) (e)		7,329		677,933
Databricks, Inc., Series G (Acquired 2/01/21, Cost $50,195) (a) (c) (d) (e)		849		78,533
Databricks, Inc., Series H (Acquired 8/31/21, Cost $114,856) (a) (c) (d) (e)		1,563		144,578
Flexe, Inc., Series C (Acquired 11/18/20, Cost $134,849) (a) (c) (d) (e)		11,083		84,785
Flexe, Inc., Series D (Acquired 4/07/22, Cost $73,849) (a) (c) (d) (e)		3,621		27,701
Gusto, Inc., Series B (Acquired 8/18/20, Cost $49,238) (a) (c) (d) (e)		3,644		67,742
Gusto, Inc., Series B-2 (Acquired 8/18/20, Cost $91,936) (a) (c) (d) (e)		6,804		126,486
Gusto, Inc., Series C (Acquired 7/16/18, Cost $84,209) (a) (c) (d) (e)		11,076		205,903
Gusto, Inc., Series D (Acquired 7/16/19, Cost $187,638) (a) (c) (d) (e)		14,095		262,026
SecurityScorecard, Inc., Series E (Acquired 3/05/21, Cost $262,495) (a) (c) (d) (e)		51,969		273,877
Socure, Inc., Series A (Acquired 12/22/21, Cost $75,555) (a) (c) (d) (e)		4,702		19,560
Socure, Inc., Series A-1 (Acquired 12/22/21, Cost $62,025) (a) (c) (d) (e)		3,860		16,058
Socure, Inc., Series B (Acquired 12/22/21, Cost $1,109) (a) (c) (d) (e)		69		287
Socure, Inc., Series E (Acquired 10/27/21, Cost $143,750) (a) (c) (d) (e)		8,946		37,215
Themis Solutions, Inc., Series AA (Acquired 4/14/21, Cost $24,473) (a) (c) (d) (e)		1,090		37,935
Themis Solutions, Inc., Series AB (Acquired 4/14/21, Cost $2,694) (a) (c) (d) (e)		120		4,176
Themis Solutions, Inc., Series B (Acquired 4/14/21, Cost $2,694) (a) (c) (d) (e)		120		4,176
Themis Solutions, Inc., Series E (Acquired 4/14/21, Cost $87,002) (a) (c) (d) (e)		3,875		134,860
				2,670,884
Materials — 0.2%
KoBold Metals, Inc., Series B-1 (Acquired 1/10/22, Cost $244,807) (a) (c) (d) (e)		8,931		758,713
Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $214,074) (a) (c) (d) (e)		4,516		267,663
				1,026,376
Real Estate — 0.0%
Evolve Vacation Rental Network, Inc., Series 8 (Acquired 3/29/18-6/15/18, Cost $44,816) (a) (c) (d) (e)		5,266		51,765
Evolve Vacation Rental Network, Inc., Series 9 (Acquired 5/29/20, Cost $20,111) (a) (c) (d) (e)		3,470		34,110
				85,875
TOTAL PREFERRED STOCK (Cost $9,295,311)				7,938,558
TOTAL EQUITIES (Cost $500,763,859)				578,311,577
	Principal Amount
BONDS & NOTES — 0.1%
CORPORATE DEBT — 0.1%
Semiconductors — 0.1%
Wolfspeed, Inc.
Convertible, 0.250% 2/15/28	$	191,000		87,955

MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
1.875% 12/01/29	$	980,000	$	406,113
				494,068
TOTAL CORPORATE DEBT (Cost $644,844)				494,068
TOTAL BONDS & NOTES (Cost $644,844)				494,068
	Number of Shares
RIGHTS — 0.0%
Health Care — 0.0%
AstraZeneca PLC, CVR (a) (c) (d)		16,791		—
TOTAL RIGHTS (Cost $5,205)				—
WARRANTS — 0.0%
Communication Services — 0.0%
Advantage Solutions, Inc., Expires 10/28/25, Strike 11.5 (a)		3,668		42
Financials — 0.0%
Grasshopper Bancorp, Inc. (Acquired 10/15/18, Cost $0) (a) (c) (d) (e)		1,432		974
Health Care — 0.0%
REVOLUTION Medicines, Inc., Expires 12/17/26 (a)		1,166		188
TOTAL WARRANTS (Cost $6,869)				1,204
TOTAL LONG-TERM INVESTMENTS (Cost $501,420,777)				578,806,849
SHORT-TERM INVESTMENTS — 2.9%
Investment of Cash Collateral from Securities Loaned — 0.4%
State Street Navigator Securities Lending Government Money Market Portfolio, 4.482% (g)		2,100,262		2,100,262
Mutual Fund — 2.3%
T. Rowe Price Government Reserve Investment Fund, 2.481% (h)		13,792,430		13,792,430
	Principal Amount
Repurchase Agreement — 0.2%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/24, 2.750%, due 1/02/25 (i)	$	1,004,199		1,004,199
TOTAL SHORT-TERM INVESTMENTS (Cost $16,896,891)				16,896,891
TOTAL INVESTMENTS — 100.8% (Cost $518,317,668) (j)				595,703,740
Other Assets/(Liabilities) — (0.8)%				(4,494,389)
NET ASSETS — 100.0%			$	591,209,351

Abbreviation Legend

ADR American Depositary Receipt

CVR Contingent Value Rights

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 December 31, 2024, was $9,060,562 or 1.53% of net assets. The Fund received $7,191,040 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) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2024, these securities amounted to a value of $9,185,418 or 1.55% of net assets.

(d) Investment is valued using significant unobservable inputs.

(e) Restricted security. Certain securities are restricted to resale. At December 31, 2024, these securities amounted to a value of $9,185,418 or 1.55% 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 December 31, 2024, the aggregate market value of these securities amounted to $115,219 or 0.02% of net assets.

(g) Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2024. (Note 2).

(h) Rate disclosed is the 7-day net yield as of December 31, 2024.

(i)	Maturity value of $1,004,353. Collateralized by U.S. Government Agency obligations with a rate of 4.625%, maturity date of 10/15/26, and an aggregate market value, including accrued interest, of $1,024,302.
(j)	See Note 3 for aggregate cost for federal tax purposes.

MassMutual Select T. Rowe Price Retirement Balanced Fund —  Portfolio of Investments

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 40.7%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		2,109,206	$	21,661,541
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		3,108,647		41,935,652
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		511,982		5,539,644
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		982,017		11,086,975
T. Rowe Price Hedged Equity Fund, Class I		751,045		9,312,964
				89,536,776
Fixed Income Funds — 59.3%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		5,500,542		46,424,578
T. Rowe Price Dynamic Credit Fund, Class I		344,606		3,049,764
T. Rowe Price Dynamic Global Bond Fund, Class I		1,006,879		7,843,588
T. Rowe Price Emerging Markets Bond Fund, Class I		874,988		7,997,386
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		261,986		2,486,246
T. Rowe Price Institutional High Yield Fund, Institutional Shares		963,590		7,544,914
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		9,546,320		44,103,998
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		911,912		6,474,572
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		4,576,934		4,576,934
				130,501,980
TOTAL MUTUAL FUNDS (Cost $228,057,568)				220,038,756
TOTAL LONG-TERM INVESTMENTS (Cost $228,057,568)				220,038,756
TOTAL INVESTMENTS — 100.0% (Cost $228,057,568) (b)				220,038,756
Other Assets/(Liabilities) — (0.0)%				(22,051)
NET ASSETS — 100.0%			$	220,016,705

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 99.8%
Equity Funds — 42.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		132,041	$	1,356,064
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		193,982		2,616,822
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		31,859		344,716
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		61,778		697,470
T. Rowe Price Hedged Equity Fund, Class I		46,788		580,175
				5,595,247
Fixed Income Funds — 57.8%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		335,956		2,835,472
T. Rowe Price Dynamic Credit Fund, Class I		19,349		171,238
T. Rowe Price Dynamic Global Bond Fund, Class I		62,512		486,969
T. Rowe Price Emerging Markets Bond Fund, Class I		53,145		485,747
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		16,139		153,163
T. Rowe Price Institutional High Yield Fund, Institutional Shares		59,866		468,748
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		508,278		2,348,245
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		56,437		400,704
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		352,573		352,573
				7,702,859
TOTAL MUTUAL FUNDS (Cost $13,386,854)				13,298,106
TOTAL LONG-TERM INVESTMENTS (Cost $13,386,854)				13,298,106
TOTAL INVESTMENTS — 99.8% (Cost $13,386,854) (b)				13,298,106
Other Assets/(Liabilities) — 0.2%				23,819
NET ASSETS — 100.0%			$	13,321,925

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 45.9%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		924,339	$	9,492,959
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		1,360,135		18,348,214
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		223,384		2,417,012
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		430,965		4,865,600
T. Rowe Price Hedged Equity Fund, Class I		327,114		4,056,218
				39,180,003
Fixed Income Funds — 54.1%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		2,048,642		17,290,536
T. Rowe Price Dynamic Credit Fund, Class I		126,442		1,119,010
T. Rowe Price Dynamic Global Bond Fund, Class I		381,900		2,975,002
T. Rowe Price Emerging Markets Bond Fund, Class I		321,045		2,934,353
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		96,311		913,995
T. Rowe Price Institutional High Yield Fund, Institutional Shares		357,361		2,798,137
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		2,897,918		13,388,380
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		367,391		2,608,475
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		2,069,816		2,069,816
				46,097,704
TOTAL MUTUAL FUNDS (Cost $88,195,437)				85,277,707
TOTAL LONG-TERM INVESTMENTS (Cost $88,195,437)				85,277,707
TOTAL INVESTMENTS — 100.0% (Cost $88,195,437) (b)				85,277,707
Other Assets/(Liabilities) — 0.0%				2,363
NET ASSETS — 100.0%			$	85,280,070

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 49.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		1,056,782	$	10,853,153
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		1,548,892		20,894,555
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		253,211		2,739,743
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		479,995		5,419,138
T. Rowe Price Hedged Equity Fund, Class I		370,592		4,595,336
				44,501,925
Fixed Income Funds — 51.0%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		2,148,604		18,134,220
T. Rowe Price Dynamic Credit Fund, Class I		128,910		1,140,850
T. Rowe Price Dynamic Global Bond Fund, Class I		396,038		3,085,136
T. Rowe Price Emerging Markets Bond Fund, Class I		324,558		2,966,461
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		98,755		937,181
T. Rowe Price Institutional High Yield Fund, Institutional Shares		367,112		2,874,487
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		2,692,996		12,441,642
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		390,005		2,769,035
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		1,973,096		1,973,096
				46,322,108
TOTAL MUTUAL FUNDS (Cost $93,322,391)				90,824,033
TOTAL LONG-TERM INVESTMENTS (Cost $93,322,391)				90,824,033
TOTAL INVESTMENTS — 100.0% (Cost $93,322,391) (b)				90,824,033
Other Assets/(Liabilities) — 0.0%				2,572
NET ASSETS — 100.0%			$	90,826,605

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 52.1%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		4,045,029	$	41,542,444
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		5,948,137		80,240,373
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		985,256		10,660,473
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		1,848,903		20,874,119
T. Rowe Price Hedged Equity Fund, Class I		1,422,619		17,640,481
				170,957,890
Fixed Income Funds — 47.9%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		7,495,486		63,261,903
T. Rowe Price Dynamic Credit Fund, Class I		447,353		3,959,075
T. Rowe Price Dynamic Global Bond Fund, Class I		1,394,846		10,865,850
T. Rowe Price Emerging Markets Bond Fund, Class I		1,108,330		10,130,140
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		338,759		3,214,823
T. Rowe Price Institutional High Yield Fund, Institutional Shares		1,269,587		9,940,864
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		8,301,376		38,352,359
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		1,394,798		9,903,064
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		7,368,797		7,368,797
				156,996,875
TOTAL MUTUAL FUNDS (Cost $334,736,070)				327,954,765
TOTAL LONG-TERM INVESTMENTS (Cost $334,736,070)				327,954,765
TOTAL INVESTMENTS — 100.0% (Cost $334,736,070) (b)				327,954,765
Other Assets/(Liabilities) — (0.0)%				(112,349)
NET ASSETS — 100.0%			$	327,842,416

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 56.7%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		4,947,832	$	50,814,231
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		7,379,963		99,555,703
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		1,208,609		13,077,148
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		2,246,710		25,365,359
T. Rowe Price Hedged Equity Fund, Class I		1,583,092		19,630,340
				208,442,781
Fixed Income Funds — 43.3%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		7,862,673		66,360,956
T. Rowe Price Dynamic Credit Fund, Class I		401,666		3,554,741
T. Rowe Price Dynamic Global Bond Fund, Class I		1,448,005		11,279,960
T. Rowe Price Emerging Markets Bond Fund, Class I		1,093,609		9,995,587
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		344,473		3,269,050
T. Rowe Price Institutional High Yield Fund, Institutional Shares		1,193,304		9,343,569
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		7,544,668		34,856,367
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		1,589,908		11,288,344
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		9,004,493		9,004,493
				158,953,067
TOTAL MUTUAL FUNDS (Cost $374,099,346)				367,395,848
TOTAL LONG-TERM INVESTMENTS (Cost $374,099,346)				367,395,848
TOTAL INVESTMENTS — 100.0% (Cost $374,099,346) (b)				367,395,848
Other Assets/(Liabilities) — (0.0)%				(126,283)
NET ASSETS — 100.0%			$	367,269,565

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 67.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		16,984,061	$	174,426,305
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		24,967,185		336,807,331
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		3,863,290		41,800,796
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		7,609,172		85,907,555
T. Rowe Price Hedged Equity Fund, Class I		2,362,206		29,291,353
				668,233,340
Fixed Income Funds — 33.1%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		18,086,527		152,650,290
T. Rowe Price Dynamic Credit Fund, Class I		349,429		3,092,449
T. Rowe Price Dynamic Global Bond Fund, Class I		3,163,988		24,647,466
T. Rowe Price Emerging Markets Bond Fund, Class I		2,323,376		21,235,655
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		729,409		6,922,092
T. Rowe Price Institutional High Yield Fund, Institutional Shares		2,556,798		20,019,727
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		9,322,594		43,070,385
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		4,685,654		33,268,142
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		25,326,184		25,326,184
				330,232,390
TOTAL MUTUAL FUNDS (Cost $1,026,174,379)				998,465,730
TOTAL LONG-TERM INVESTMENTS (Cost $1,026,174,379)				998,465,730
TOTAL INVESTMENTS — 100.1% (Cost $1,026,174,379) (b)				998,465,730
Other Assets/(Liabilities) — (0.1)%				(501,143)
NET ASSETS — 100.0%			$	997,964,587

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 78.8%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		12,988,872	$	133,395,714
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		19,376,764		261,392,541
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		2,833,194		30,655,160
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		5,849,182		66,037,270
				491,480,685
Fixed Income Funds — 21.2%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		8,252,004		69,646,912
T. Rowe Price Dynamic Global Bond Fund, Class I		1,401,988		10,921,485
T. Rowe Price Emerging Markets Bond Fund, Class I		902,098		8,245,179
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		285,384		2,708,290
T. Rowe Price Institutional High Yield Fund, Institutional Shares		1,013,404		7,934,954
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		13,094		60,495
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		2,666,092		18,929,256
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		14,082,978		14,082,978
				132,529,549
TOTAL MUTUAL FUNDS (Cost $647,737,372)				624,010,234
TOTAL LONG-TERM INVESTMENTS (Cost $647,737,372)				624,010,234
TOTAL INVESTMENTS — 100.0% (Cost $647,737,372) (b)				624,010,234
Other Assets/(Liabilities) — (0.0)%				(302,891)
NET ASSETS — 100.0%			$	623,707,343

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 88.7%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		22,720,043	$	233,334,843
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		33,990,258		458,528,587
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		4,913,766		53,166,943
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		10,229,671		115,492,983
				860,523,356
Fixed Income Funds — 11.4%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		6,505,269		54,904,470
T. Rowe Price Dynamic Global Bond Fund, Class I		1,080,339		8,415,841
T. Rowe Price Emerging Markets Bond Fund, Class I		553,767		5,061,433
T. Rowe Price Institutional Floating Rate Fund, Institutional Shares		170,815		1,621,033
T. Rowe Price Institutional High Yield Fund, Institutional Shares		610,394		4,779,384
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		21,226		98,063
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		2,473,246		17,560,045
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		17,736,434		17,736,434
				110,176,703
TOTAL MUTUAL FUNDS (Cost $1,011,282,482)				970,700,059
TOTAL LONG-TERM INVESTMENTS (Cost $1,011,282,482)				970,700,059
TOTAL INVESTMENTS — 100.1% (Cost $1,011,282,482) (b)				970,700,059
Other Assets/(Liabilities) — (0.1)%				(544,344)
NET ASSETS — 100.0%			$	970,155,715

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 96.2%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		13,526,437	$	138,916,510
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		20,309,491		273,975,032
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		2,913,806		31,527,379
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		6,040,422		68,196,364
				512,615,285
Fixed Income Funds — 3.9%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		1,044,877		8,818,760
T. Rowe Price Dynamic Global Bond Fund, Class I		139,481		1,086,555
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		11,388		52,611
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		609,846		4,329,905
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		6,301,315		6,301,315
				20,589,146
TOTAL MUTUAL FUNDS (Cost $554,408,992)				533,204,431
TOTAL LONG-TERM INVESTMENTS (Cost $554,408,992)				533,204,431
TOTAL INVESTMENTS — 100.1% (Cost $554,408,992) (b)				533,204,431
Other Assets/(Liabilities) — (0.1)%				(274,451)
NET ASSETS — 100.0%			$	532,929,980

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 98.2%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		20,368,155	$	209,180,948
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		30,650,105		413,469,913
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		4,373,453		47,320,763
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		9,131,836		103,098,431
				773,070,055
Fixed Income Funds — 1.9%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		550,699		4,647,901
T. Rowe Price Dynamic Global Bond Fund, Class I		89,036		693,590
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		17,442		80,583
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		313,203		2,223,743
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		7,309,081		7,309,081
				14,954,898
TOTAL MUTUAL FUNDS (Cost $820,777,263)				788,024,953
TOTAL LONG-TERM INVESTMENTS (Cost $820,777,263)				788,024,953
TOTAL INVESTMENTS — 100.1% (Cost $820,777,263) (b)				788,024,953
Other Assets/(Liabilities) — (0.1)%				(458,646)
NET ASSETS — 100.0%			$	787,566,307

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.1%
Equity Funds — 99.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		9,059,315	$	93,039,162
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		13,519,353		182,376,074
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		1,937,283		20,961,398
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		4,054,693		45,777,479
				342,154,113
Fixed Income Funds — 1.1%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		233,048		1,966,927
T. Rowe Price Dynamic Global Bond Fund, Class I		35,715		278,218
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		8,113		37,481
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		140,236		995,678
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		327,554		327,554
				3,605,858
TOTAL MUTUAL FUNDS (Cost $353,501,665)				345,759,971
TOTAL LONG-TERM INVESTMENTS (Cost $353,501,665)				345,759,971
TOTAL INVESTMENTS — 100.1% (Cost $353,501,665) (b)				345,759,971
Other Assets/(Liabilities) — (0.1)%				(176,309)
NET ASSETS — 100.0%			$	345,583,662

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 99.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		7,415,010	$	76,152,153
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		11,060,241		149,202,657
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		1,586,727		17,168,390
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		3,315,738		37,434,682
				279,957,882
Fixed Income Funds — 1.0%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		189,005		1,595,199
T. Rowe Price Dynamic Global Bond Fund, Class I		31,667		246,684
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		6,736		31,121
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		116,085		824,203
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		181,121		181,121
				2,878,328
TOTAL MUTUAL FUNDS (Cost $287,953,273)				282,836,210
TOTAL LONG-TERM INVESTMENTS (Cost $287,953,273)				282,836,210
TOTAL INVESTMENTS — 100.0% (Cost $287,953,273) (b)				282,836,210
Other Assets/(Liabilities) — (0.0)%				(134,310)
NET ASSETS — 100.0%			$	282,701,900

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

December 31, 2024 (Unaudited)

	Number of Shares		Value
MUTUAL FUNDS — 100.0%
Equity Funds — 99.0%
MassMutual Select T. Rowe Price International Equity Fund, Class I (a)		141,634	$	1,454,584
MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a)		211,190		2,848,952
MassMutual Select T. Rowe Price Real Assets Fund, Class I (a)		30,304		327,889
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a)		63,314		714,819
				5,346,244
Fixed Income Funds — 1.0%
MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a)		3,567		30,108
T. Rowe Price Dynamic Global Bond Fund, Class I		656		5,107
T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I		264		1,220
T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I		2,168		15,395
T. Rowe Price U.S. Treasury Money Fund, Inc., Class I		2,807		2,807
				54,637
TOTAL MUTUAL FUNDS (Cost $5,908,612)				5,400,881
TOTAL LONG-TERM INVESTMENTS (Cost $5,908,612)				5,400,881
TOTAL INVESTMENTS — 100.0% (Cost $5,908,612) (b)				5,400,881
Other Assets/(Liabilities) — 0.0%				646
NET ASSETS — 100.0%			$	5,401,527

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. 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 Diversified Value Fund ("Diversified Value Fund")

MM S&P 500^® Index Fund ("S&P 500 Index Fund")

MassMutual Equity Opportunities Fund ("Equity Opportunities Fund")

MassMutual Blue Chip Growth Fund ("Blue Chip Growth 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 RetireSMART^SM by JPMorgan In Retirement Fund ("MM RetireSMART by JPMorgan In Retirement Fund")

MassMutual RetireSMART^SM by JPMorgan 2020 Fund ("MM RetireSMART by JPMorgan 2020 Fund")

MassMutual RetireSMART^SM by JPMorgan 2025 Fund ("MM RetireSMART by JPMorgan 2025 Fund")

Notes to Portfolio of Investments (Unaudited) (Continued)

MassMutual RetireSMART^SM by JPMorgan 2030 Fund ("MM RetireSMART by JPMorgan 2030 Fund")

MassMutual RetireSMART^SM by JPMorgan 2035 Fund ("MM RetireSMART by JPMorgan 2035 Fund")

MassMutual RetireSMART^SM by JPMorgan 2040 Fund ("MM RetireSMART by JPMorgan 2040 Fund")

MassMutual RetireSMART^SM by JPMorgan 2045 Fund ("MM RetireSMART by JPMorgan 2045 Fund")

MassMutual RetireSMART^SM by JPMorgan 2050 Fund ("MM RetireSMART by JPMorgan 2050 Fund")

MassMutual RetireSMART^SM by JPMorgan 2055 Fund ("MM RetireSMART by JPMorgan 2055 Fund")

MassMutual RetireSMART^SM by JPMorgan 2060 Fund ("MM RetireSMART by JPMorgan 2060 Fund")

MassMutual RetireSMART^SM by JPMorgan 2065 Fund ("MM RetireSMART by JPMorgan 2065 Fund")

MM Equity Asset Fund ("Equity Asset Fund")

MassMutual Select T. Rowe Price Bond Asset Fund ("MM Select T. Rowe Price Bond Asset Fund")

MassMutual Select T. Rowe Price Large Cap Blend Fund ("MM Select T. Rowe Price Large Cap Blend 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 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")

Notes to Portfolio of Investments (Unaudited) (Continued)

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").

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 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").

Notes to Portfolio of Investments (Unaudited) (Continued)

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 ("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.

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.

Notes to Portfolio of Investments (Unaudited) (Continued)

Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System ("NASDAQ System"), or in the case of over-the-counter ("OTC") securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.

Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral.

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.

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.

Notes to Portfolio of Investments (Unaudited) (Continued)

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 alternate valuation approaches including, but not limited to, the following:

Market approach: considers factors including the price of recent investments in the same or similar security or financial metrics of comparable securities.

Income approach: considers factors including expected future cash flows, security specific risks, and corresponding discount rates.

Cost approach: considers factors including the value of the security's underlying assets and liabilities.

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 fair value factors, 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.

Notes to Portfolio of Investments (Unaudited) (Continued)

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 December 31, 2024. The Diversified Value Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of December 31, 2024. 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.

The following is the aggregate value by input level, as of December 31, 2024, for the remaining Funds' investments:

Total Return Bond Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Bank Loans	$	—		$	8,741,342		$	—	$	8,741,342
Corporate Debt		—			94,625,572			—		94,625,572
Municipal Obligations		—			4,006,708			—		4,006,708
Non-U.S. Government Agency Obligations		—			117,064,873			—		117,064,873
Sovereign Debt Obligations		—			3,065,615			—		3,065,615
U.S. Government Agency Obligations and Instrumentalities		—			243,001,544			—		243,001,544
U.S. Treasury Obligations		—			211,350,384			—		211,350,384
Common Stock		498,827			—			—		498,827
Short-Term Investments		1,594,598			30,790,423			—		32,385,021
Total Investments	$	2,093,425		$	712,646,461		$	—	$	714,739,886
Asset Derivatives
Forward Contracts	$	—		$	832,500		$	—	$	832,500
Futures Contracts		422,223			—			—		422,223
Swap Agreements		—			354,658			—		354,658
Total	$	422,223		$	1,187,158		$	—	$	1,609,381
Liability Derivatives
Forward Contracts	$	—		$	(44,468	)	$	—	$	(44,468	)
Futures Contracts		(424,200	)		—			—		(424,200	)
Total	$	(424,200	)	$	(44,468	)	$	—	$	(468,668	)

Notes to Portfolio of Investments (Unaudited) (Continued)

S&P 500 Index Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Common Stock	$	2,293,642,225		$	—	$	—	$	2,293,642,225
Short-Term Investments		—			9,545,847		—		9,545,847
Total Investments	$	2,293,642,225		$	9,545,847	$	—	$	2,303,188,072
Liability Derivatives
Futures Contracts	$	(315,383	)	$	—	$	—	$	(315,383	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Equity Opportunities Fund

Asset Investments	Level 1		Level 2			Level 3		Total
Common Stock	$	567,708,514	$	7,194,549	*	$	—	$	574,903,063
Preferred Stock		—		1,097,906	*		—		1,097,906
Short-Term Investments		175		6,242,321			—		6,242,496
Total Investments	$	567,708,689	$	14,534,776		$	—	$	582,243,465

Notes to Portfolio of Investments (Unaudited) (Continued)

Blue Chip Growth Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock	$	2,764,600,681	$	2,672,753	$	2,282,614	$	2,769,556,048
Preferred Stock		—		—		4,856,806		4,856,806
Corporate Debt		—		4,086,037		—		4,086,037
Exchange-Traded Funds		32,579,959		—		—		32,579,959
Short-Term Investments		15,113		7,672,766		—		7,687,879
Total Investments	$	2,797,195,753	$	14,431,556	$	7,139,420	$	2,818,766,729

Notes to Portfolio of Investments (Unaudited) (Continued)

Mid Cap Value Fund

Asset Investments	Level 1		Level 2			Level 3		Total
Common Stock	$	48,508,944	$	1,333,929	*	$	—	$	49,842,873
Preferred Stock		—		125,437	*		—		125,437
Short-Term Investments		394		1,427,917			—		1,428,311
Total Investments	$	48,509,338	$	2,887,283		$	—	$	51,396,621
Asset Derivatives
Forward Contracts	$	—	$	16,134		$	—	$	16,134
Liability Derivatives
Forward Contracts	$	—	$	(124	)	$	—	$	(124	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Small Cap Value Equity Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock	$	37,286,003	$	—	$	—	$	37,286,003
Short-Term Investments		29,484		437,606		—		467,090
Total Investments	$	37,315,487	$	437,606	$	—	$	37,753,093

Notes to Portfolio of Investments (Unaudited) (Continued)

Small Company Value Fund

Asset Investments	Level 1		Level 2			Level 3		Total
Common Stock	$	122,603,265	$	231,772	*	$	—	$	122,835,037
Short-Term Investments		868,305		419,863			—		1,288,168
Total Investments	$	123,471,570	$	651,635		$	—	$	124,123,205
Asset Derivatives
Forward Contracts	$	—	$	2,618		$	—	$	2,618
Liability Derivatives
Forward Contracts	$	—	$	(66	)	$	—	$	(66	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Mid Cap Growth Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock	$	4,764,150,593	$	—	$	—	$	4,764,150,593
Preferred Stock		—		—		16,546,049		16,546,049
Short-Term Investments		6,527,608		63,301,606		—		69,829,214
Total Investments	$	4,770,678,201	$	63,301,606	$	16,546,049	$	4,850,525,856

Notes to Portfolio of Investments (Unaudited) (Continued)

Small Cap Growth Equity Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock	$	761,968,970	$	—	$	—	$	761,968,970
Exchange-Traded Funds		3,832,268		—		—		3,832,268
Short-Term Investments		3,140,152		2,642,095		—		5,782,247
Total Investments	$	768,941,390	$	2,642,095	$	—	$	771,583,485

Notes to Portfolio of Investments (Unaudited) (Continued)

Overseas Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Australia	$	—	$	5,057,675	$	—	$	5,057,675
Belgium		631,288		2,907,283		—		3,538,571
Canada		12,076,798		—		—		12,076,798
China		—		10,202,419		—		10,202,419
Denmark		—		10,653,138		—		10,653,138
France		—		70,351,555		—		70,351,555
Germany		—		62,135,164		—		62,135,164
Hong Kong		—		8,290,395		—		8,290,395
India		—		5,624,613		—		5,624,613
Indonesia		—		1,016,908		—		1,016,908
Ireland		—		2,818,134		—		2,818,134
Israel		3,168,672		—		—		3,168,672
Italy		6,227,049		9,765,816		—		15,992,865
Japan		—		54,458,939		—		54,458,939
Luxembourg		—		2,315,869		—		2,315,869
Netherlands		—		10,029,834		—		10,029,834
Portugal		—		2,031,349		—		2,031,349
Republic of Korea		—		3,549,311		—		3,549,311
Singapore		—		4,124,613		—		4,124,613
Spain		—		4,845,026		—		4,845,026
Sweden		—		4,907,230		—		4,907,230
Switzerland		346,105		33,854,907		—		34,201,012
Taiwan		6,421,190		—		—		6,421,190
United Kingdom		—		45,280,712		—		45,280,712
United States		7,791,864		31,584,926		—		39,376,790
Preferred Stock*
Republic of Korea		—		1,887,790		—		1,887,790
Short-Term Investments		—		6,850,465		—		6,850,465
Total Investments	$	36,662,966	$	394,544,071	$	—	$	431,207,037

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*
Argentina	$	655,108	$	—		$	—		$	655,108
Australia		—		16,967,825			—			16,967,825
Austria		—		9,093,219			—			9,093,219
Belgium		—		455,582			—			455,582
Brazil		8,116,256		14,333,266			—			22,449,522
Canada		51,951,841		—			—			51,951,841
Chile		—		4,182,799			—			4,182,799
China		29,827,672		70,666,021			—			100,493,693
Denmark		4,921,634		7,001,740			—			11,923,374
Finland		—		6,484,631			—			6,484,631
France		—		80,543,879			—			80,543,879
Germany		4,183,741		71,892,297			—			76,076,038
Guatemala		—		1,532,739			—			1,532,739
Hong Kong		1,182,492		15,014,939			—			16,197,431
Hungary		—		5,406,491			—			5,406,491
India		1,549,346		54,332,918			—			55,882,264
Indonesia		—		11,875,332			—			11,875,332
Ireland		1,915,148		—			—			1,915,148
Italy		—		25,307,591			—			25,307,591
Japan		—		170,188,143			—			170,188,143
Luxembourg		—		5,454,164			—			5,454,164
Macau		—		1,373,486			—			1,373,486
Malaysia		—		3,582,490			—			3,582,490
Mexico		9,149,575		—			—			9,149,575
Netherlands		4,461,825		49,979,436			—			54,441,261
Norway		—		9,789,832			—			9,789,832
Peru		508,163		—			—			508,163
Philippines		—		4,679,972			—			4,679,972
Poland		—		1,401,313			—			1,401,313
Portugal		—		12,407,356			—			12,407,356
Republic of Korea		3,062,847		28,989,320			—			32,052,167
Russia		—		—			—	+		—
Saudi Arabia		—		12,117,951			—			12,117,951
Singapore		1,965,609		9,767,892			—			11,733,501
South Africa		—		3,514,525			—			3,514,525
Spain		—		5,900,079			—			5,900,079
Sweden		—		19,426,559			—			19,426,559
Switzerland		—		32,951,549			—			32,951,549
Taiwan		—		65,734,816			—			65,734,816
Thailand		2,446,379		4,021,518			—			6,467,897
United Arab Emirates		—		1,529,062			—			1,529,062
United Kingdom		17,095,020		101,669,980			—			118,765,000
United States		26,231,039		49,952,004			506,889			76,689,932
Preferred Stock*
Brazil		—		1,629,087			—			1,629,087
Germany		—		3,540,578			—			3,540,578
United States		—		—			30,440			30,440
Warrants		—		—			—	+		—
Short-Term Investments		29,547,880		1,407,200			—			30,955,080
Total Investments	$	198,771,575	$	996,099,581		$	537,329		$	1,195,408,485
Asset Derivatives
Forward Contracts	$	—	$	658		$	—		$	658
Liability Derivatives
Forward Contracts	$	—	$	(236,243	)	$	—		$	(236,243	)
Written Options		—		(245	)		—			(245	)
Total	$	—	$	(236,488	)	$	—		$	(236,488	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Equity Asset Fund

Asset Investments	Level 1			Level 2			Level 3			Total
Common Stock	$	288,630,120		$	1,956	*	$	—		$	288,632,076
Rights		—			—			—	+		—
Short-Term Investments		—			3,589,624			—			3,589,624
Total Investments	$	288,630,120		$	3,591,580		$	—		$	292,221,700
Liability Derivatives
Futures Contracts	$	(102,678	)	$	—		$	—		$	(102,678	)

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	$	—		$	7,979,856		$	—	$	7,979,856
Corporate Debt		—			131,047,412			100,004		131,147,416
Municipal Obligations		—			565,142			—		565,142
Non-U.S. Government Agency Obligations		—			44,044,557			—		44,044,557
Sovereign Debt Obligations		—			85,100,720			—		85,100,720
U.S. Government Agency Obligations and Instrumentalities		—			94,073,182			—		94,073,182
U.S. Treasury Obligations		—			122,263,686			—		122,263,686
Purchased Options		—			1,080,873			—		1,080,873
Short-Term Investments		7,429,948			17,770,788			—		25,200,736
Total Investments	$	7,429,948		$	503,926,216		$	100,004	$	511,456,168
Asset Derivatives
Forward Contracts	$	—		$	4,416,249		$	—	$	4,416,249
Futures Contracts		415,452			—			—		415,452
Swap Agreements		—			1,002,692			—		1,002,692
Total	$	415,452		$	5,418,941		$	—	$	5,834,393
Liability Derivatives
Forward Contracts	$	—		$	(989,335	)	$	—	$	(989,335	)
Futures Contracts		(639,280	)		—			—		(639,280	)
Swap Agreements		—			(786,704	)		—		(786,704	)
Written Options		—			(4,258	)		—		(4,258	)
Total	$	(639,280	)	$	(1,780,297	)	$	—	$	(2,419,577	)

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	$	2,317,412,371		$	4,841,472	*	$	3,655,298	$	2,325,909,141
Preferred Stock		—			1,904,404	*		4,903,614		6,808,018
Short-Term Investments		18,100,813			1,000,305			—		19,101,118
Total Investments	$	2,335,513,184		$	7,746,181		$	8,558,912	$	2,351,818,277
Liability Derivatives
Futures Contracts	$	(30,216	)	$	—		$	—	$	(30,216	)

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	$	455,524		$	21,996,372		$	—		$	22,451,896
Bahrain		—			381,230			—			381,230
Belgium		—			1,233,065			—			1,233,065
Bosnia and Herzegovina		1,054,659			313,568			—			1,368,227
Brazil		5,319,010			—			—			5,319,010
Canada		29,175,886			—			—			29,175,886
Chile		—			501,685			—			501,685
China		—			1,374,120			—			1,374,120
Finland		—			317,486			—			317,486
France		—			3,827,688			—			3,827,688
Germany		—			1,410,548			—			1,410,548
Hong Kong		—			1,455,042			—			1,455,042
India		—			690,260			—			690,260
Japan		—			6,430,898			—			6,430,898
Kazakhstan		—			751,304			—			751,304
Luxembourg		—			481,485			—			481,485
Mexico		2,268,894			—			—			2,268,894
Portugal		—			933,125			—			933,125
Russia		—			—			—	+		—
Saudi Arabia		—			787,733			—			787,733
Singapore		—			1,674,461			—			1,674,461
South Africa		—			6,670,228			—			6,670,228
Spain		—			260,480			—			260,480
Thailand		—			335,437			—			335,437
United Kingdom		1,565,443			3,369,322			371,703			5,306,468
United States		166,674,826			4,166,986			—			170,841,812
Vietnam		—			1,819,272			—			1,819,272
Zambia		587,902			—			—			587,902
Preferred Stock
United States		—			—			2,551,536			2,551,536
Exchange-Traded Funds		1,541,594			—			—			1,541,594
Purchased Options		—			371,936			—			371,936
Mutual Funds		223,099			—			—			223,099
Short-Term Investments		4,299,391			2,625,623			—			6,925,014
Total Investments	$	213,166,228		$	64,179,354		$	2,923,239		$	280,268,821
Asset Derivatives
Forward Contracts	$	—		$	150,823		$	—		$	150,823
Futures Contracts		376,377			—			—			376,377
Swap Agreements		—			264,662			—			264,662
Total	$	376,377		$	415,485		$	—		$	791,862
Liability Derivatives
Forward Contracts	$	—		$	(599,689	)	$	—		$	(599,689	)
Futures Contracts		(132,743	)		—			—			(132,743	)
Swap Agreements		—			(699,886	)		—			(699,886	)
Total	$	(132,743	)	$	(1,299,575	)	$	—		$	(1,432,318	)

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	$	562,295,652	$	6,968,262	*	$	1,109,105		$	570,373,019
Preferred Stock		—		464,288	*		7,474,270			7,938,558
Corporate Debt		—		494,068			—			494,068
Rights		—		—			—	+		—
Warrants		230		—			974			1,204
Short-Term Investments		15,892,692		1,004,199			—			16,896,891
Total Investments	$	578,188,574	$	8,930,817		$	8,584,349		$	595,703,740

* 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.

+ Represents a security at $0 value as of December 31, 2024.

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 SAI(s) 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").

Notes to Portfolio of Investments (Unaudited) (Continued)

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 December 31, 2024, 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.

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.

Notes to Portfolio of Investments (Unaudited) (Continued)

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 and MM Select T. Rowe Price International Equity 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.

Market Risk

The value of a Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock and bond markets can decline significantly in response to issuer, market, economic, industry, political, regulatory, geopolitical, public health, and other conditions, as well as investor perceptions of these conditions. A Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.

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 U.S. 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 U.S. federal income tax.

Dividends and Distributions to Shareholders

Dividends from net investment income are either declared daily and paid monthly or declared and paid annually depending on the requirements of each Fund. Dividends from net investment income may also be distributed at other times throughout the year as required to satisfy tax or regulatory requirements. 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.

Notes to Portfolio of Investments (Unaudited) (Continued)

3. Federal Income Tax Information

At December 31, 2024, 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 U.S. federal income tax basis, were as follows:

	Federal Income Tax Cost		Tax Basis Unrealized Appreciation		Tax Basis Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Total Return Bond Fund	$	740,389,095	$	3,720,178	$	(29,369,387	)	$	(25,649,209	)
Diversified Value Fund		540,609,946		79,096,607		(12,455,643	)		66,640,964
S&P 500 Index Fund		1,071,759,172		1,279,511,633		(48,082,733	)		1,231,428,900
Equity Opportunities Fund		477,853,137		111,647,426		(7,257,098	)		104,390,328
Blue Chip Growth Fund		1,469,209,003		1,391,424,756		(41,867,030	)		1,349,557,726
Mid Cap Value Fund		48,562,831		5,617,942		(2,784,152	)		2,833,790
Small Cap Value Equity Fund		33,499,476		6,747,704		(2,494,087	)		4,253,617
Small Company Value Fund		115,743,736		16,562,834		(8,183,365	)		8,379,469
Mid Cap Growth Fund		3,831,837,600		1,237,863,554		(219,175,298	)		1,018,688,256
Small Cap Growth Equity Fund		628,319,114		178,098,257		(34,833,886	)		143,264,371
Overseas Fund		382,078,239		86,041,706		(36,912,908	)		49,128,798
MM Select T. Rowe Price International Equity Fund		1,064,287,430		210,349,988		(79,228,933	)		131,121,055
20/80 Allocation Fund		193,747,487		1,733,838		(14,089,559	)		(12,355,721	)
40/60 Allocation Fund		182,094,957		3,163,706		(12,799,337	)		(9,635,631	)
60/40 Allocation Fund		158,392,091		5,046,388		(7,971,162	)		(2,924,774	)
80/20 Allocation Fund		122,958,364		5,236,182		(4,856,237	)		379,945
MM RetireSMART by JPMorgan In Retirement Fund		63,610,445		1,277,978		(1,494,933	)		(216,955	)
MM RetireSMART by JPMorgan 2020 Fund		96,722,756		1,934,801		(2,114,739	)		(179,938	)
MM RetireSMART by JPMorgan 2025 Fund		105,574,888		2,844,244		(2,705,949	)		138,295
MM RetireSMART by JPMorgan 2030 Fund		236,550,373		7,267,579		(5,742,379	)		1,525,200
MM RetireSMART by JPMorgan 2035 Fund		138,102,012		4,783,592		(3,219,676	)		1,563,916
MM RetireSMART by JPMorgan 2040 Fund		183,448,237		8,525,839		(3,798,546	)		4,727,293
MM RetireSMART by JPMorgan 2045 Fund		110,895,503		4,766,896		(2,108,633	)		2,658,263
MM RetireSMART by JPMorgan 2050 Fund		138,809,386		6,783,549		(2,360,581	)		4,422,968
MM RetireSMART by JPMorgan 2055 Fund		63,472,276		2,789,122		(1,097,983	)		1,691,139
MM RetireSMART by JPMorgan 2060 Fund		25,147,830		1,084,820		(437,308	)		647,512
MM RetireSMART by JPMorgan 2065 Fund		1,284,065		24,782		(30,019	)		(5,237	)
Equity Asset Fund		204,385,862		92,949,870		(5,114,032	)		87,835,838
MM Select T. Rowe Price Bond Asset Fund		535,093,734		2,941,685		(26,579,251	)		(23,637,566	)
MM Select T. Rowe Price Large Cap Blend Fund		1,926,113,358		480,565,569		(54,860,650	)		425,704,919
MM Select T. Rowe Price Real Assets Fund		275,748,187		24,678,511		(20,157,877	)		4,520,634
MM Select T. Rowe Price Small and Mid Cap Blend Fund		518,317,668		108,674,810		(31,288,738	)		77,386,072
MM Select T. Rowe Price Retirement Balanced Fund		228,057,568		1,654,487		(9,673,299	)		(8,018,812	)
MM Select T. Rowe Price Retirement 2005 Fund		13,386,854		98,998		(187,746	)		(88,748	)
MM Select T. Rowe Price Retirement 2010 Fund		88,195,437		1,167,762		(4,085,492	)		(2,917,730	)
MM Select T. Rowe Price Retirement 2015 Fund		93,322,391		1,441,231		(3,939,589	)		(2,498,358	)
MM Select T. Rowe Price Retirement 2020 Fund		334,736,070		6,013,200		(12,794,505	)		(6,781,305	)
MM Select T. Rowe Price Retirement 2025 Fund		374,099,346		6,450,836		(13,154,334	)		(6,703,498	)
MM Select T. Rowe Price Retirement 2030 Fund		1,026,174,379		7,610,713		(35,319,362	)		(27,708,649	)
MM Select T. Rowe Price Retirement 2035 Fund		647,737,372		238,412		(23,965,550	)		(23,727,138	)
MM Select T. Rowe Price Retirement 2040 Fund		1,011,282,482		92,366		(40,674,789	)		(40,582,423	)
MM Select T. Rowe Price Retirement 2045 Fund		554,408,992		–		(21,204,561	)		(21,204,561	)
MM Select T. Rowe Price Retirement 2050 Fund		820,777,263		–		(32,752,310	)		(32,752,310	)
MM Select T. Rowe Price Retirement 2055 Fund		353,501,665		738,751		(8,480,445	)		(7,741,694	)
MM Select T. Rowe Price Retirement 2060 Fund		287,953,273		–		(5,117,063	)		(5,117,063	)
MM Select T. Rowe Price Retirement 2065 Fund		5,908,612		22		(507,753	)		(507,731	)

Notes to Portfolio of Investments (Unaudited) (Continued)

4. New Accounting Pronouncements

In December 2022, FASB issued Accounting Standards Update 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" ("ASU 2022-06"). ASU 2022-06 is an update of ASU 2020-04, which responded to concerns about structural risks of interbank offered rates, and particularly the risk of cessation of LIBOR. ASU 2020-04 provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2022-06 defers the sunset date provision included in Topic 848. The amendments in this update are effective immediately through December 31, 2024, for all entities. Management has evaluated ASU 2022-06 and there is no material impact on the financial statements.

5. Subsequent Events

Management has evaluated the events and transactions subsequent to December 31, 2024, through the date when the Portfolios of Investments were issued, and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Funds' Portfolios of Investments other than those disclosed below.

Effective January 24, 2025 (the "Termination Date"), the Mid Cap Value Fund, Small Cap Value Equity Fund, Equity Asset Fund, 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 (collectively the "Liquidated Funds") were dissolved pursuant to Plans of Liquidation, approved by the Trustees. Shareholders of the various classes of shares of the Liquidated Funds received proceeds in proportion to the number of shares of such class held by each of them on the Termination Date.