Massmutual Premier Funds NPORT-P MassMutual Short-Duration Bond Fund (Dec 2021 report)

MassMutual Short-Duration Bond Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 97.8%
CORPORATE DEBT — 51.7%
Agriculture — 1.8%
BAT Capital Corp.
4.700% 4/02/27	$	10,270,000	$	11,304,264
Imperial Brands Finance PLC
3.125% 7/26/24 (a)		5,320,000		5,498,207
3.500% 2/11/23 (a)		1,926,000		1,961,965
Wens Foodstuffs Group Co. Ltd.
2.349% 10/29/25 (a)		8,225,000		6,822,651
				25,587,087
Airlines — 0.6%
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% 10/20/25 (a)		8,663,000		9,107,667
Auto Manufacturers — 2.7%
Ford Motor Credit Co. LLC
3 mo. USD LIBOR + 1.235% 1.391% FRN 2/15/23		2,115,000		2,110,833
3.087% 1/09/23		3,410,000		3,467,646
3.350% 11/01/22		8,160,000		8,262,000
General Motors Co.
6.125% 10/01/25		5,107,000		5,869,132
Harley-Davidson Financial Services, Inc.
3.350% 6/08/25 (a)		3,858,000		4,043,380
Hyundai Capital America
1.500% 6/15/26 (a)		7,160,000		6,963,849
Nissan Motor Acceptance Co. LLC
1.850% 9/16/26 (a)		7,770,000		7,585,409
				38,302,249

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Auto Parts & Equipment — 0.2%
Metalsa S A P I De Cv
4.900% 4/24/23 (a)	$	3,250,000	$	3,347,500
Banks — 11.4%
ABN AMRO Bank NV
4.750% 7/28/25 (a)		7,765,000		8,454,896
Arab National Bank 5 year CMT + 2.974%
3.326% VRN 10/28/30 (a)		4,500,000		4,592,583
Banco Santander SA
1.849% 3/25/26		5,600,000		5,572,097
Bank of America Corp.
3.950% 4/21/25		1,290,000		1,379,370
4.000% 1/22/25		4,737,000		5,060,646
4.250% 10/22/26		6,110,000		6,745,776
The Bank of Nova Scotia
4.500% 12/16/25		8,454,000		9,290,736
Barclays PLC
5.200% 5/12/26		7,550,000		8,424,819
BPCE SA
4.625% 7/11/24 (a)		1,200,000		1,282,859
5.700% 10/22/23 (a)		8,498,000		9,135,874
Burgan Bank SAK 5 year CMT + 2.229%
2.750% VRN 12/15/31 (a)		2,000,000		1,805,000
Citigroup, Inc.
4.400% 6/10/25		10,785,000		11,749,149
Credit Suisse AG
6.500% 8/08/23 (a)		6,260,000		6,737,325
Danske Bank A/S
1 year CMT + .730% 1.549% VRN 9/10/27 (a)		3,820,000		3,734,416
5.000% 1/12/22 (a)		3,070,000		3,072,720
Deutsche Bank AG
SOFR + 2.159% 2.222% VRN 9/18/24		3,350,000		3,393,443
SOFR + 1.219% 2.311% VRN 11/16/27		4,115,000		4,114,438
The Goldman Sachs Group, Inc.
4.250% 10/21/25		15,980,000		17,434,207
HSBC Holdings PLC
4.250% 3/14/24		343,000		362,242
4.250% 8/18/25		3,668,000		3,945,510
4.375% 11/23/26		3,264,000		3,582,953
ING Groep NV SOFR + 1.005%
1.726% VRN 4/01/27		3,113,000		3,093,742

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
JP Morgan Chase & Co. SOFR + .765%
1.470% VRN 9/22/27	$	2,955,000	$	2,898,298
Macquarie Group Ltd. SOFR + 1.069%
1.340% VRN 1/12/27 (a)		4,450,000		4,331,810
Morgan Stanley
4.100% 5/22/23		1,785,000		1,858,924
4.350% 9/08/26		8,300,000		9,168,755
Natwest Group PLC 1 year CMT + .900%
1.642% VRN 6/14/27		2,565,000		2,531,246
Sberbank of Russia Via SB Capital SA
5.250% 5/23/23 (a)		4,500,000		4,656,870
Societe Generale SA
1 year CMT + 1.100% 1.488% VRN 12/14/26 (a)		5,510,000		5,369,124
1 year CMT + 1.000% 1.792% VRN 6/09/27 (a)		245,000		239,862
UBS Group AG
4.125% 9/24/25 (a)		5,400,000		5,832,782
Wells Fargo & Co.
4.100% 6/03/26		3,900,000		4,252,830
				164,105,302
Beverages — 0.7%
Bacardi Ltd.
4.450% 5/15/25 (a)		5,390,000		5,843,264
JDE Peet's NV
1.375% 1/15/27 (a)		4,029,000		3,893,345
				9,736,609
Chemicals — 1.0%
Celanese US Holdings LLC
1.400% 8/05/26		2,225,000		2,172,200
MEGlobal Canada ULC
5.000% 5/18/25 (a)		6,400,000		6,978,957
Syngenta Finance NV
4.441% 4/24/23 (a)		4,610,000		4,765,939
4.892% 4/24/25 (a)		765,000		821,822
				14,738,918
Commercial Services — 1.5%
Adani Ports & Special Economic Zone Ltd.
3.375% 7/24/24 (a)		9,007,000		9,260,949

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Ashtead Capital, Inc.
1.500% 8/12/26 (a)	$	2,705,000	$	2,656,908
Element Fleet Management Corp.
1.600% 4/06/24 (a)		1,735,000		1,736,686
Triton Container International Ltd.
2.050% 4/15/26 (a)		7,700,000		7,643,622
				21,298,165
Computers — 0.4%
Dell International LLC/EMC Corp.
4.000% 7/15/24		2,472,000		2,623,532
5.850% 7/15/25		2,691,000		3,051,375
				5,674,907
Distribution & Wholesale — 0.7%
Li & Fung Ltd.
4.500% 8/18/25 (a)		9,750,000		9,946,440
Diversified Financial Services — 4.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
2.450% 10/29/26		4,990,000		5,034,221
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.875% 8/14/24		2,430,000		2,500,060
Aircastle Ltd.
4.125% 5/01/24		6,790,000		7,090,581
Antares Holdings LP
2.750% 1/15/27 (a)		2,785,000		2,730,834
3.950% 7/15/26 (a)		4,980,000		5,123,586
6.000% 8/15/23 (a)		3,332,000		3,541,356
Avolon Holdings Funding Ltd.
2.875% 2/15/25 (a)		7,395,000		7,556,941
4.250% 4/15/26 (a)		3,290,000		3,488,163
BGC Partners, Inc.
4.375% 12/15/25		3,690,000		3,952,043
Blackstone Private Credit Fund
2.625% 12/15/26 (a)		9,045,000		8,823,820
Lazard Group LLC
3.750% 2/13/25		3,430,000		3,648,389
LeasePlan Corp. NV
2.875% 10/24/24 (a)		2,022,000		2,084,739
SPARC EM SPC Panama Metro Line 2 SP
0.000% 12/05/22 (a)		547,192		540,353

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Synchrony Financial
3.700% 8/04/26	$	900,000	$	956,283
3.950% 12/01/27		2,640,000		2,836,783
				59,908,152
Electric — 0.9%
Alliant Energy Finance LLC
1.400% 3/15/26 (a)		1,630,000		1,570,472
Enel Finance International NV
1.375% 7/12/26 (a)		5,060,000		4,930,354
Pacific Gas and Electric Co.
1.750% 6/16/22		6,235,000		6,235,017
				12,735,843
Energy – Alternate Sources — 0.4%
Contemporary Ruiding Development Ltd.
1.500% 9/09/26 (a)		5,728,000		5,579,444
Food — 0.9%
JBS Finance Luxembourg Sarl
2.500% 1/15/27 (a)		7,525,000		7,440,419
Smithfield Foods, Inc.
4.250% 2/01/27 (a)		4,875,000		5,238,807
				12,679,226
Gas — 0.4%
ONE Gas, Inc.
1.100% 3/11/24		5,183,000		5,155,658
Health Care – Services — 1.0%
HCA, Inc.
5.375% 2/01/25		6,995,000		7,687,505
Universal Health Services, Inc.
1.650% 9/01/26 (a)		7,525,000		7,390,199
				15,077,704
Insurance — 3.1%
AmTrust Financial Services, Inc.
6.125% 8/15/23		4,810,000		4,840,784
Athene Global Funding

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
1.730% 10/02/26 (a)	$	3,935,000	$	3,864,450
2.500% 1/14/25 (a)		3,875,000		3,976,747
Brighthouse Financial Global Funding
1.550% 5/24/26 (a)		3,614,000		3,566,629
CNO Financial Group, Inc.
5.250% 5/30/25		5,325,000		5,879,192
CNO Global Funding
1.750% 10/07/26 (a)		6,308,000		6,235,394
Enstar Group Ltd.
4.500% 3/10/22 (b)		3,640,000		3,650,323
Equitable Financial Life Global Funding
1.700% 11/12/26 (a)		5,175,000		5,107,904
GA Global Funding Trust
1.625% 1/15/26 (a)		2,090,000		2,073,800
Jackson Financial, Inc.
1.125% 11/22/23 (a)		2,165,000		2,161,245
Unum Group
3.875% 11/05/25		3,620,000		3,865,154
				45,221,622
Internet — 1.0%
Baidu, Inc.
1.625% 2/23/27		6,139,000		5,972,705
Expedia Group, Inc.
4.625% 8/01/27		1,645,000		1,832,970
Netflix, Inc.
5.875% 11/15/28		2,502,000		3,008,655
Weibo Corp.
3.500% 7/05/24		3,250,000		3,346,753
				14,161,083
Investment Companies — 2.0%
Ares Capital Corp.
3.875% 1/15/26		5,615,000		5,920,468
4.200% 6/10/24		3,469,000		3,661,166
BlackRock TCP Capital Corp.
3.900% 8/23/24		4,465,000		4,663,163
Golub Capital BDC, Inc.
2.500% 8/24/26		1,965,000		1,932,258
3.375% 4/15/24		3,733,000		3,836,193

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Icahn Enterprises LP/ Icahn Enterprises Finance Corp.
4.750% 9/15/24	$	4,310,000	$	4,471,625
Sixth Street Specialty Lending, Inc.
3.875% 11/01/24		3,590,000		3,754,092
				28,238,965
Iron & Steel — 1.0%
Severstal OAO Via Steel Capital SA
3.150% 9/16/24 (a)		5,878,000		6,000,897
Vale Overseas Ltd.
6.250% 8/10/26		7,549,000		8,738,043
				14,738,940
Leisure Time — 0.1%
Harley-Davidson, Inc.
3.500% 7/28/25		1,965,000		2,073,118
Lodging — 0.8%
Hyatt Hotels Corp.
1.800% 10/01/24		3,025,000		3,025,504
Las Vegas Sands Corp.
3.200% 8/08/24		7,680,000		7,820,468
				10,845,972
Machinery – Construction & Mining — 0.5%
The Weir Group PLC
2.200% 5/13/26 (a)		7,750,000		7,645,974
Machinery – Diversified — 0.1%
CNH Industrial NV
4.500% 8/15/23		900,000		945,492
Media — 0.6%
Cable Onda SA
4.500% 1/30/30 (a)		5,550,000		5,698,740
ViacomCBS, Inc.
4.750% 5/15/25		2,910,000		3,192,562
				8,891,302

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Mining — 0.5%
Glencore Finance Canada Ltd.
4.250% STEP 10/25/22 (a)	$	484,000	$	496,729
Glencore Funding LLC
1.625% 4/27/26 (a)		3,425,000		3,362,121
3.000% 10/27/22 (a)		730,000		741,272
4.125% 5/30/23 (a)		2,930,000		3,046,966
				7,647,088
Multi-National — 0.9%
Africa Finance Corp.
3.125% 6/16/25 (a)		5,973,000		6,147,651
The Eastern & Southern African Trade & Development Bank
4.875% 5/23/24 (a)		6,000,000		6,164,100
				12,311,751
Oil & Gas — 2.6%
Cenovus Energy, Inc.
5.375% 7/15/25		1,852,000		2,044,544
EQT Corp.
3.000% 10/01/22 (b)		4,100,000		4,141,000
6.625% STEP 2/01/25		3,440,000		3,878,600
Occidental Petroleum Corp.
5.500% 12/01/25		8,680,000		9,623,907
Ovintiv Exploration, Inc.
5.375% 1/01/26		2,500,000		2,770,344
5.625% 7/01/24		4,345,000		4,783,801
Petroleos Mexicanos
4.625% 9/21/23		10,360,000		10,619,104
				37,861,300
Packaging & Containers — 0.4%
Berry Global, Inc.
1.650% 1/15/27		5,010,000		4,894,244
Sealed Air Corp.
5.500% 9/15/25 (a)		963,000		1,065,319
				5,959,563

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pharmaceuticals — 0.3%
Bayer US Finance II LLC
4.250% 12/15/25 (a)	$	3,600,000	$	3,895,519
Pipelines — 1.7%
Energy Transfer LP
4.200% 9/15/23		5,485,000		5,728,470
EnLink Midstream Partners LP
4.400% 4/01/24		7,955,000		8,312,975
EQM Midstream Partners LP
4.750% 7/15/23		3,555,000		3,697,200
Plains All American Pipeline LP / PAA Finance Corp.
4.650% 10/15/25		5,745,000		6,268,721
Plains All American Pipeline LP/PAA Finance Corp.
4.500% 12/15/26		960,000		1,054,429
				25,061,795
Private Equity — 0.6%
Hercules Capital, Inc.
4.625% 10/23/22		3,120,000		3,180,428
2.625% 9/16/26		5,488,000		5,442,526
				8,622,954
Real Estate — 2.1%
Country Garden Holdings Co. Ltd.
7.125% 1/27/22 (a)		4,000,000		3,994,401
4.750% 1/17/23 (a)		4,000,000		3,900,089
8.000% 1/27/24 (a)		8,433,000		8,474,931
MAF Sukuk Ltd.
4.500% 11/03/25 (a)		4,525,000		4,898,312
Shimao Group Holdings Ltd.
6.125% 2/21/24 (a) (b)		14,600,000		9,358,600
				30,626,333
Real Estate Investment Trusts (REITS) — 1.0%
Omega Healthcare Investors, Inc.
4.750% 1/15/28		3,525,000		3,891,925
Service Properties Trust
4.350% 10/01/24		8,315,000		8,148,700

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Vornado Realty LP
2.150% 6/01/26	$	2,350,000	$	2,349,548
				14,390,173
Retail — 0.6%
Nordstrom, Inc.
2.300% 4/08/24		2,051,000		2,051,000
4.000% 3/15/27		740,000		743,700
QVC, Inc.
4.375% 3/15/23		5,290,000		5,448,700
				8,243,400
Semiconductors — 0.3%
Marvell Technology, Inc.
1.650% 4/15/26		3,675,000		3,633,529
Storage & Warehousing — 0.3%
GLP China Holdings Ltd.
4.974% 2/26/24 (a)		4,561,000		4,787,450
Telecommunications — 1.6%
Ericsson LM
4.125% 5/15/22		4,056,000		4,101,630
NBN Co. Ltd.
1.450% 5/05/26 (a)		3,010,000		2,965,542
Sprint Communications, Inc.
9.250% 4/15/22		1,805,000		1,843,356
Telecom Italia SpA
5.303% 5/30/24 (a)		3,610,000		3,799,381
Tower Bersama Infrastructure Tbk PT
4.250% 1/21/25 (a)		10,425,000		10,842,256
				23,552,165
Toys, Games & Hobbies — 0.6%
Mattel, Inc.
3.375% 4/01/26 (a)		8,560,000		8,778,451
Trucking & Leasing — 0.3%
Penske Truck Leasing Co. LP/PTL Finance Corp.
1.700% 6/15/26 (a)		5,070,000		5,014,452

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
TOTAL CORPORATE DEBT (Cost $750,439,520)			$	746,129,262
MUNICIPAL OBLIGATIONS — 0.1%
AccessLex Institute,
1.955% FRN 9/25/37 (c)		250,000		246,884
Pennsylvania Higher Education Assistance Agency, Revenue Bonds, Series 2006-2, Class B,
1.420% FRN 10/25/42 (c)		1,100,000		1,097,663
				1,344,547
TOTAL MUNICIPAL OBLIGATIONS (Cost $1,331,157)				1,344,547
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 44.4%
Automobile Asset-Backed Securities — 4.2%
AmeriCredit Automobile Receivables Trust, Series 2020-3, Class D
1.490% 9/18/26		339,000		339,254
Avis Budget Rental Car Funding AESOP LLC
Series 2020-1A, Class C, 3.020% 8/20/26 (a)		10,741,000		10,974,542
Series 2019-3A, Class C, 3.150% 3/20/26 (a)		2,764,000		2,817,725
Series 2017-1A, Class C, 4.150% 9/20/23 (a)		1,200,000		1,216,109
Series 2019-1A, Class C, 4.530% 3/20/23 (a)		1,620,000		1,628,389
Series 2018-1A, Class C, 4.730% 9/20/24 (a)		3,350,000		3,501,243
Carmax Auto Owner Trust, Series 2021-4, Class D
1.480% 3/15/28		2,209,000		2,165,755
CarMax Auto Owner Trust, Series 2020-4, Class D
1.750% 4/15/27		1,946,000		1,936,369
Carmax Auto Owner Trust, Series 2019-2, Class D, ABS
3.410% 10/15/25		615,000		629,270
Carvana Auto Receivables Trust
Series 2021-N1, Class D, 1.500% 1/10/28		9,087,000		9,070,750
Series 2021-P2, 1.880% 5/10/28 (a)		2,960,420		2,960,180
Series 2021-P3, Class D, 2.250% 9/11/28		7,695,000		7,575,999
Flagship Credit Auto Trust, Series 2019-1, Class C, ABS, 144A
3.600% 2/18/25 (a)		2,175,000		2,206,653
GM Financial Revolving Receivables Trust, Series 2021-1, Class C
1.670% 6/12/34 (a)		3,328,000		3,308,934
Santander Drive Auto Receivables Trust, Series 2020-4, Class D
1.480% 1/15/27		401,000		402,183
Santander Revolving Auto Loan Trust
Series 2019-A, Class C, 3.000% 1/26/32 (a)		439,000		454,885

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-A, Class D, 3.450% 1/26/32 (a)	$	2,997,000	$	3,067,367
Westlake Automobile Receivables Trust, Series 2021-1A, Class E
2.330% 8/17/26 (a)		6,774,000		6,723,429
				60,979,036
Commercial Mortgage-Backed Securities — 8.9%
BAMLL Commercial Mortgage Securities Trust
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 1.460% FRN 9/15/34 (a)		570,000		562,883
Series 2019-BPR, Class CMP, 3.895% VRN 11/05/32 (a) (c)		2,280,000		2,283,215
Series 2019-BPR, Class DMP, 3.895% VRN 11/05/32 (a) (c)		3,050,000		2,972,317
Bear Stearns Commercial Mortgage Securities, Series 2007-T26, Class AM,
5.430% VRN 1/12/45 (c)		161,588		159,994
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500%
1.610% FRN 7/15/35 (a)		2,300,000		2,291,396
BSREP Commercial Mortgage Trust, Series 2021-DC, Class C, 1 mo. USD LIBOR + 1.550%
1.660% FRN 8/15/38 (a)		7,322,000		7,299,128
BX Commercial Mortgage Trust
Series 2020-BXLP, Class D, 1 mo. USD LIBOR + 1.250% 1.360% FRN 12/15/36 (a)		1,110,605		1,106,440
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.710% FRN 12/15/36 (a)		6,095,799		6,069,141
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.810% FRN 11/15/35 (a)		314,230		314,143
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.910% FRN 10/15/36 (a)		1,687,250		1,684,150
Series 2021-SOAR, Class E, 1 mo. USD LIBOR + 1.800% 1.910% FRN 6/15/38 (a)		5,676,000		5,644,141
Series 2021-VOLT, Class E, 1 mo. USD LIBOR + 2.000% 2.110% FRN 9/15/36 (a)		7,174,000		7,111,237
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.110% FRN 10/15/36 (a)		5,882,850		5,850,014
CAMB Commercial Mortgage Trust
Series 2019-LIFE, Class C, 1 mo. USD LIBOR + 1.450% 1.560% FRN 12/15/37 (a)		2,000,000		1,998,214
Series 2019-LIFE, Class E, 1 mo. USD LIBOR + 2.150% 2.260% FRN 12/15/37 (a)		2,835,008		2,831,589
COMM 2020-SBX Mortgage Trust, Series 2020-SBX, Class D,
2.321% VRN 1/10/38 (a) (c)		6,200,000		6,045,957
Credit Suisse Mortgage Capital Certificates

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600% 1.710% FRN 5/15/36 (a)	$	1,780,000	$	1,773,335
Series 2019-ICE4, Class E, 1 mo. USD LIBOR + 2.150% 2.260% FRN 5/15/36 (a)		4,000,000		3,980,020
Extended Stay America Trust
Series 2021-ESH, Class B, 1 mo. USD LIBOR + 1.380% 1.490% FRN 7/15/38 (a)		7,162,737		7,162,734
Series 2021-ESH, Class C, 1 mo. USD LIBOR + 1.700% 1.810% FRN 7/15/38 (a)		6,466,359		6,466,356
Series 2021-ESH, Class D, 1 mo. USD LIBOR + 2.250% 2.360% FRN 7/15/38 (a)		4,974,123		4,974,126
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2013-LC11, Class C,
3.958% VRN 4/15/46 (c)		1,015,000		990,314
KIND Trust
Series 2021-KIND, Class B, 1 mo. USD LIBOR + 1.350% 1.460% FRN 8/15/38 (a)		4,250,000		4,228,758
Series 2021-KIND, Class C, 1 mo. USD LIBOR + 1.750% 1.860% FRN 8/15/38 (a)		4,400,000		4,372,513
KKR Industrial Portfolio Trust, Series 2021-KDIP, Class E, 1 mo. USD LIBOR + 1.550%
1.660% FRN 12/15/37 (a)		5,187,750		5,116,438
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
1.910% FRN 5/15/36 (a)		1,604,000		1,596,996
Life Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750%
1.860% FRN 3/15/38 (a)		2,714,000		2,683,476
MHC Commercial Mortgage Trust, Series 2021-MHC, Class E, 1 mo. USD LIBOR + 2.101%
2.211% FRN 4/15/38 (a)		5,910,000		5,900,760
MHP 2021-STOR
Series 2021-STOR, Class C, 1 mo. USD LIBOR + 1.050% 1.160% FRN 7/15/38 (a)		3,353,000		3,352,838
Series 2021-STOR, Class D, 1 mo. USD LIBOR + 1.350% 1.460% FRN 7/15/38 (a)		2,225,000		2,225,551
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class B
3.769% 2/15/46		2,340,000		2,347,962
Morgan Stanley Capital I Trust, Series 2012-STAR, Class D,
3.926% VRN 8/05/34 (a) (c)		2,300,000		2,286,437
One New York Plaza Trust

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2020-1NYP, Class C, 1 mo. USD LIBOR + 2.200% 2.310% FRN 1/15/36 (a)	$	4,106,000	$	4,117,472
Series 2020-1NYP, Class D, 1 mo. USD LIBOR + 2.750% 2.860% FRN 1/15/36 (a)		2,760,000		2,769,815
STWD Trust, Series 2021-FLWR, Class B, 1 mo. USD LIBOR + .926%
1.036% FRN 7/15/36 (a)		8,000,000		7,905,190
				128,475,050
Credit Card Asset-Backed Securities — 0.3%
Avant Credit Card Master Trust, Series 2021-1A, Class A
1.370% 4/15/27 (a)		4,200,000		4,145,849
Home Equity Asset-Backed Securities — 0.0%
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .480%
0.582% FRN 10/25/34 (a)		88,410		88,370
Other Asset-Backed Securities — 18.7%
321 Henderson Receivables LLC
Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% 0.310% FRN 3/15/41 (a)		47,582		47,393
Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200% 0.310% FRN 9/15/41 (a)		59,573		58,482
AASET Trust, Series 2020-1A, Class B
4.335% 1/16/40 (a)		1,273,358		906,195
Adams Outdoor Advertising LP, Series 2018-1, Class A
4.810% 11/15/48 (a)		1,820,036		1,876,784
AIMCO CLO 10 Ltd., Series 2019-10A, Class AR, 3 mo. USD LIBOR + 1.060%
1.188% FRN 7/22/32 (a)		5,000,000		4,999,990
Apidos CLO XXVI, Series 2017-26A, Class A2R, 3 mo. USD LIBOR + 1.500%
1.622% FRN 7/18/29 (a)		3,500,000		3,499,989
Aqua Finance Trust, Series 2021-A, Class A
1.540% 7/17/46 (a)		6,550,985		6,480,448
Arbor Realty Commercial Real Estate Notes, Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.150%
1.260% FRN 6/15/28 (a)		880,000		879,722
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class M1, 1 mo. USD LIBOR + .900%
0.992% FRN 10/25/34		129,667		127,475

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
ASSURANT CLO Ltd., Series 2018-3A, Class BR, 3 mo. USD LIBOR + 1.550%
1.682% FRN 10/20/31 (a)	$	2,352,000	$	2,348,371
Bain Capital Credit CLO Ltd., Series 2016-2A, Class BRR, 3 mo. USD LIBOR + 1.550%
1.674% FRN 1/15/29 (a)		2,900,000		2,899,948
Ballyrock CLO Ltd., Series 2020-2A, Class A2R, 3 mo. USD LIBOR + 1.550%
1.682% FRN 10/20/31 (a)		4,700,000		4,688,203
Benefit Street Partners CLO XVII Ltd., Series 2019-17A, Class AR, 3 mo. USD LIBOR + 1.080%
1.204% FRN 7/15/32 (a)		4,000,000		3,998,464
BHG Securitization Trust, Series 2021-B, Class C
2.240% 10/17/34 (a)		3,736,000		3,653,100
BlueMountain Fuji US CLO I Ltd., Series 2017-1A, Class A1R, 3 mo. USD LIBOR + .980%
1.112% FRN 7/20/29 (a)		3,700,000		3,696,015
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A, 2.940% 5/25/29 (a)		237,783		241,317
Series 2017-1A, Class B, 3.240% 5/25/29 (a)		67,938		68,918
Series 2019-A, Class B, 3.780% 9/26/33 (a)		1,167,477		1,200,708
Business Jet Securities LLC
Series 2021-1A, Class A, 2.162% 4/15/36 (a)		3,413,200		3,351,699
Series 2020-1A, Class A, 2.981% 11/15/35 (a)		1,135,341		1,133,884
Canyon Capital CLO Ltd., Series 2017-1A, Class CR, 3 mo. USD LIBOR + 2.000%
2.124% FRN 7/15/30 (a)		1,540,000		1,537,790
Capital Automotive REIT
Series 2017-1A, Class A1, 3.870% 4/15/47 (a)		840,308		840,804
Series 2020-1A, Class B1, 4.170% 2/15/50 (a)		3,289,000		3,375,439
Castlelake Aircraft Securitization, Series 2019-1A, Class B
5.095% 4/15/39 (a)		707,996		666,421
Castlelake Aircraft Structured Trust, Series 2018-1, Class A
4.125% 6/15/43 (a)		1,987,561		1,946,894
Cbam CLO Management Cbam, Series 2018-6A, Class A1R, 3 mo. USD LIBOR + 1.270%
1.394% FRN 1/15/31 (a)		4,000,000		4,000,352
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980%
1.112% FRN 4/20/31 (a)		900,000		898,222
CF Hippolyta LLC, Series 2020-1, Class B1
2.280% 7/15/60 (a)		590,963		590,053
CIFC Funding Ltd.

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2017-2A, Class BR, 3 mo. USD LIBOR + 1.500% 1.632% FRN 4/20/30 (a)	$	1,750,000	$	1,750,014
Series 2017-4A, Class A2R, 3 mo. USD LIBOR + 1.550% 1.674% FRN 10/24/30 (a)		2,400,000		2,400,022
DataBank Issuer, Series 2021-1A, Class A2
2.060% 2/27/51 (a)		7,075,000		6,940,906
DB Master Finance LLC, Series 2017-1A, Class A2II
4.030% 11/20/47 (a)		962,500		998,527
Diamond Resorts Owner Trust
Series 2021-1A, Class B, 2.050% 11/21/33 (a)		4,378,208		4,371,685
Series 2018-1, Class A, 3.700% 1/21/31 (a)		161,135		164,105
Elara HGV Timeshare Issuer LLC
Series 2017-A, Class A, 2.690% 3/25/30 (a)		313,849		318,067
Series 2016-A, Class A, 2.730% 4/25/28 (a)		451,780		460,144
Series 2017-A, Class B, 2.960% 3/25/30 (a)		771,546		785,924
Series 2016-A, Class B, 3.220% 4/25/28 (a)		311,516		315,556
Series 2019-A, Class C, 3.450% 1/25/34 (a)		2,547,236		2,596,469
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (a)		173,026		173,707
Firstkey Homes Trust, Series 2021, Class E2
2.489% 8/17/38 (a)		4,760,000		4,629,403
Flatiron CLO 17 Ltd., Series 2017-1A, Class AR, 3 mo. USD LIBOR + .980%
1.136% FRN 5/15/30 (a)		6,500,000		6,500,481
FNA VI LLC, Series 21-1A, Class A
1.350% 1/10/32 (a) (d)		13,116,392		12,974,584
Goldentree Loan Management US CLO 4 Ltd., Series 2019-4A, Class AR, 3 mo. USD LIBOR + 1.110%
1.234% FRN 4/24/31 (a)		4,350,000		4,350,165
Goodgreen Trust
Series 2019-2A, Class A, 2.760% 4/15/55 (a)		2,705,071		2,716,363
Series 2016-1A, Class A, 3.230% 10/15/52 (a)		1,014,186		1,040,195
Series 2019-1A, Class A, 3.860% 10/15/54 (a)		2,241,252		2,333,576
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (c)		3,109,930		3,229,030
GRACIE POINT INTERNATIONAL FUNDING 2021-1, Series 2021-1A, Class B, 1 mo. USD LIBOR + 1.400%
1.499% FRN 11/01/23 (a)		1,750,000		1,757,584
Hero Funding Trust
Series 2017-3A, Class A1, 3.190% 9/20/48 (a)		812,691		831,642
Series 2017-2A, Class A1, 3.280% 9/20/48 (a)		161,095		165,069
Series 2016-4A, Class A1, 3.570% 9/20/47 (a)		404,407		418,343
Series 2015-1A, Class A, 3.840% 9/21/40 (a)		259,336		268,594
Series 2017-2A, Class A2, 4.070% 9/20/48 (a)		130,946		135,635
Series 2018-1A, Class A2, 4.670% 9/20/48 (a)		1,036,806		1,088,815

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Hilton Grand Vacations Trust
Series 2019-AA, Class C, 2.840% 7/25/33 (a)	$	1,317,930	$	1,330,566
Series 2017-AA, Class B, 2.960% 12/26/28 (a)		276,749		280,091
Series 2018-AA, Class A, ABS, 144A, 3.540% 2/25/32 (a)		162,999		167,653
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A
4.458% 12/15/38 (a)		818,575		794,103
Horizon Aircraft Finance II Ltd, Series 2019-1, Class A
3.721% 7/15/39 (a)		2,715,839		2,661,048
Horizon Aircraft Finance III Ltd.
Series 2019-2, Class A, 3.425% 11/15/39 (a)		2,213,330		2,167,323
Series 2019-2, Class B, 4.458% 11/15/39 (a)		1,757,143		1,633,953
Hotwire Funding LLC, Series 2021-1, Class B
2.658% 11/20/51 (a)		3,753,000		3,724,647
HPS Loan Management Ltd., Series 15A-19, Class A1, 3 mo. USD LIBOR + 1.320%
1.448% FRN 7/22/32 (a)		1,500,000		1,500,987
Kestrel Aircraft Fundig Limited, Series 2018-1A, Class A
4.250% 12/15/38 (a)		3,296,535		3,221,057
KKR CLO Ltd., Series 28A, Class A, 3 mo. USD LIBOR + 1.140%
1.343% FRN 3/15/31 (a)		1,100,000		1,099,392
KREF Ltd., Series 2021-FL2, Class AS, 1 mo. USD LIBOR + 1.300%
1.409% FRN 2/15/39 (a)		18,400,000		18,392,331
MACH 1 Cayman Ltd., Series 2019-1, Class A
3.474% 10/15/39 (a)		1,998,856		1,955,967
Marlette Funding Trust, Series 2019-2A, Class B
3.530% 7/16/29 (a)		436,951		438,531
Milos CLO Ltd., Series 2017-1A, Class AR, 3 mo. USD LIBOR + 1.070%
1.202% FRN 10/20/30 (a)		3,250,000		3,250,010
Mosaic Solar Loans LLC
Series 2018-2GS, Class A, 4.200% 2/22/44 (a)		781,056		831,585
Series 2017-1A, Class A, 4.450% 6/20/42 (a)		144,769		151,509
Neuberger Berman Loan Advisers CLO 24 Ltd., Series 2017-24A, Class BR, 3 mo. USD LIBOR + 1.500%
1.624% FRN 4/19/30 (a)		500,000		500,056
Neuberger Berman Loan Advisers CLO 25 Ltd., Series 2017-25A, Class BR, 3 mo. USD LIBOR + 1.350%
1.472% FRN 10/18/29 (a)		6,950,000		6,914,131
New Residential Advance Receivables Trust, Series 2020-T1, Class ET1
5.467% 8/15/53 (a)		1,651,000		1,642,926
Newark BSL CLO 2 Ltd., Series 2017-1A, Class A2R, 3 mo. USD LIBOR + 1.400%
1.524% FRN 7/25/30 (a)		1,375,000		1,372,176

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
NP SPE II LLC, Series 2017-1A, Class A1
3.372% 10/21/47 (a)	$	599,695	$	609,824
NRZ Advance Receivables Trust, Series 2020-T3, Class DT3
2.458% 10/15/52 (a)		1,552,200		1,541,995
Oak Street Investment Grade Net Lease Fund, Series 2020-1A, Class A3
2.260% 11/20/50 (a)		2,507,000		2,462,722
Orange Lake Timeshare Trust
Series 2016-A, Class B, 2.910% 3/08/29 (a)		384,768		387,783
Series 2018-A, Class C, 3.740% 11/08/30 (a)		304,697		308,639
Oxford Finance Funding LLC, Series 2020-1A, Class B
4.037% 2/15/28 (a)		1,750,000		1,781,725
Oxford Finance Funding Trust, Series 2020-1A, Class A2
3.101% 2/15/28 (a)		1,994,000		2,015,570
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A
3.967% 6/15/44 (a)		1,554,327		1,538,345
Planet Fitness Master Issuer LLC
Series 2018-1A, Class A2I, 4.262% 9/05/48 (a)		2,515,500		2,473,723
Series 2018-1A, Class A2II, 4.666% 9/05/48 (a)		8,159,895		8,333,683
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850%
2.952% FRN 2/25/23 (a)		1,140,000		1,142,878
Rad CLO 1 Ltd., Series 2018-1A, Class BR, 3 mo. USD LIBOR + 1.400%
1.524% FRN 7/15/31 (a)		2,650,000		2,650,019
RAMP Trust, Series 2005-EFC1, Class M5, 1 mo. USD LIBOR + .650%
1.077% FRN 5/25/35		3,777,846		3,765,402
Rockford Tower CLO Ltd.
Series 2017-3A, Class A, 3 mo. USD LIBOR + 1.190% 1.322% FRN 10/20/30 (a)		1,750,000		1,749,092
Series 2017-2A, Class BR, 3 mo. USD LIBOR + 1.500% 1.624% FRN 10/15/29 (a)		2,250,000		2,250,094
RRAM., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090%
1.214% FRN 1/15/30 (a)		2,875,000		2,875,066
SBA Tower Trust, Series 2014-2A, Class C,
3.869% STEP 10/15/49 (a)		2,330,000		2,412,449
Sierra Receivables Funding LLC
Series 2017-1A, Class A, 2.910% 3/20/34 (a)		165,862		165,862
Series 2019-3A, Class C, 3.000% 8/20/36 (a)		1,925,252		1,947,692
Series 2020-2A, Class C, 3.510% 7/20/37 (a)		403,972		410,762
Series 2019-1A, Class C, 3.770% 1/20/36 (a)		521,902		534,027
Sierra Timeshare 2021-1 Receivables Funding LLC, Series 2021-1A, Class C
1.790% 11/20/37 (a)		1,171,520		1,170,612
SoFi Consumer Loan Program Trust
Series 2020-1, Class D, 2.940% 1/25/29 (a)		4,000,000		4,056,652

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2019-3, Class D, 3.890% 5/25/28 (a)	$	5,747,000	$	5,835,779
Store Master Funding I-VII, Series 2018-1A, Class A3
4.400% 10/20/48 (a)		3,081,750		3,145,926
Structured Asset Investment Loan Trust, Series 2004-11, Class M1, 1 mo. USD LIBOR + .930%
1.032% FRN 1/25/35		5,790,895		5,687,366
TAL Advantage VII LLC, Series 2020-1A, Class B
3.290% 9/20/45 (a)		2,953,750		2,956,782
Terwin Mortgage Trust, Series 2006-5, Class 1A2B, 1 mo. USD LIBOR + .420%
0.522% FRN 7/25/37 (a)		1,890,457		1,879,153
Thrust Engine Leasing, Series 2021-1A, Class A
4.163% 7/15/40 (a)		4,245,956		4,252,484
TICP CLO XI Ltd., Series 2018-11A, Class A, 3 mo. USD LIBOR + 1.180%
1.312% FRN 10/20/31 (a)		2,450,000		2,450,049
Trafigura Securitisation Finance PLC, Series 2021-1A, Class B
1.780% 1/15/25 (a)		7,048,000		6,946,509
Treman Park CLO Ltd., Series 2015-1A, Class ARR, 3 mo. USD LIBOR + 1.070%
1.202% FRN 10/20/28 (a)		1,327,593		1,327,619
Trinity Rail Leasing LP, Series 2019-1A, Class A
3.820% 4/17/49 (a)		3,492,486		3,586,673
Vantage Data Centers LLC, Series 2020-1A, Class A2
1.645% 9/15/45 (a)		2,475,000		2,429,900
VERDE CLO Ltd., Series 2019-1A, Class AR, 3 mo. USD LIBOR + 1.100%
1.224% FRN 4/15/32 (a)		2,500,000		2,497,547
VSE VOI Mortgage LLC, Series 2016-A, Class B
2.740% 7/20/33 (a)		200,302		200,259
Welk Resorts LLC, Series 2017-AA, Class B
3.410% 6/15/33 (a)		739,975		748,004
Westgate Resorts LLC, Series 2018-1A, Class A
3.380% 12/20/31 (a)		158,901		159,546
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (a)		1,557,066		1,525,793
				269,971,732
Student Loans Asset-Backed Securities — 4.2%
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500%
1.602% FRN 7/25/58 (a)		630,000		584,089
Chase Education Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .220%
0.440% FRN 3/28/68		500,763		454,386

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
College Avenue Student Loans LLC
Series 2018-A, Class A1, 1 mo. USD LIBOR + 1.200% 1.303% FRN 12/26/47 (a)	$	1,521,505	$	1,536,236
Series 2017-A, Class A1, FRN, 1 mo. USD LIBOR + 1.650% 1.753% FRN 11/26/46 (a)		570,671		580,777
Series 2021-A, Class B, 2.320% 7/25/51 (a)		9,124,000		9,063,749
Series 2019-A, Class B, 3.810% 12/28/48 (a)		1,770,820		1,800,525
College Loan Corp. Trust, Series 2005-2, Class B, 3 mo. USD LIBOR + .490%
0.614% FRN 1/15/37		533,037		491,375
Commonbond Student Loan Trust
Series 2017-AGS, Class B, 3.470% 5/25/41 (a)		492,659		489,383
Series 2018-AGS, Class C, 3.820% 2/25/44 (a)		140,547		140,215
Series 2018-BGS, Class C, 4.120% 9/25/45 (a)		114,274		115,342
Series 2018-CGS, Class C, 4.350% 2/25/46 (a)		54,950		55,121
Series 2017-AGS, Class C, 5.280% 5/25/41 (a)		189,332		195,459
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B
2.500% 1/25/30 (a)		159,956		159,513
DRB Prime Student Loan Trust
Series 2017-C, Class B, 2.950% 11/25/42 (a)		689,625		701,493
Series 2017-B, Class CFX, 3.610% 8/25/42 (a)		688,402		696,219
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150%
2.100% FRN 12/01/47 (a)		1,292,007		1,297,890
EDvestinU Private Education Loan Issue No 1 LLC, Series 2019-A, Class A
3.580% 11/25/38 (a)		981,408		1,005,993
ELFI Graduate Loan Program LLC, Series 2018-A, Class B
4.000% 8/25/42 (a)		371,424		382,087
Goal Capital Funding Trust, Series 2010-1, Class A, 3 mo. USD LIBOR + .700%
0.880% FRN 8/25/48 (a)		85,138		85,143
Goal Structured Solutions Trust, Series 2015-1, Class B, ABS, FRN, 144A, 1 mo. USD LIBOR + 1.500%
1.603% FRN 9/25/43 (a)		100,000		99,934
Higher Education Funding I, Series 2004-1, Class B1,
FRN 1/01/44 (a) (c)		950,000		851,332
Laurel Road Prime Student Loan Trust
Series 2019-A, Class BFX, 3.000% 10/25/48 (a)		1,210,820		1,221,649
Series 2018-B, Class BFX, 3.720% 5/26/43 (a)		546,147		553,451
Navient Private Education Refi Loan Trust, Series 2020-BA, Class B
2.770% 1/15/69 (a)		6,200,000		6,251,245
Navient Student Loan Trust, Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500%
1.602% FRN 7/25/52		1,100,000		1,095,119

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
1.853% FRN 12/26/40 (a)	$	91,173	$	91,236
Nelnet Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/25/38		840,279		766,336
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.461% FRN 6/25/41		1,389,112		1,283,862
Series 2012-4A, Class B, 1 mo. USD LIBOR + 1.000% 1.103% FRN 7/26/49 (a)		900,000		852,336
Series 2018-5A, Class B, 1 mo. USD LIBOR + 1.450% 1.553% FRN 2/25/67 (a)		1,000,000		995,805
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 6/25/54 (a)		395,000		395,000
SLC Student Loan Trust
Series 2005-1, Class B, 3 mo. USD LIBOR + .200% 0.354% FRN 2/15/45		490,299		459,782
Series 2006-1, Class B, ABS, FRN, 3 mo. USD LIBOR + .210% 0.413% FRN 3/15/55		1,723,333		1,589,858
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 0.433% FRN 12/15/39		1,293,415		1,172,250
Series 2005-3, Class B, 3 mo. USD LIBOR + .250% 0.453% FRN 6/15/55		1,063,187		982,612
SLM Student Loan Trust
Series 2005-4, Class B, 3 mo. USD LIBOR + .180% 0.304% FRN 7/25/55		550,181		518,589
Series 2006-7, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/27/42		2,911,071		2,726,717
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.334% FRN 10/25/40		445,628		418,718
Series 2005-5, Class B, ABS, FRN, 3 mo. USD LIBOR + .250% 0.374% FRN 10/25/40		551,065		521,570
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.414% FRN 1/25/44		2,680,017		2,525,067
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 0.424% FRN 7/25/25		12,587		12,576
Series 2005-9, Class B, 3 mo. USD LIBOR + .300% 0.424% FRN 1/25/41		1,457,210		1,377,046
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.434% FRN 1/25/55		393,995		375,435
Series 2004-8, Class B, 3 mo. USD LIBOR + .460% 0.584% FRN 1/25/40		854,191		810,895
Series 2004-1 Class B, 3 mo. USD LIBOR + .500% 0.624% FRN 7/25/39		408,696		388,757
Series 2003-4, Class B, 3 mo. USD LIBOR + .650% 0.853% FRN 6/15/38		276,079		262,374
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 0.853% FRN 12/15/38		1,022,120		979,774
SMB Private Education Loan Trust
Series 2015-A, Class A2B, 1 mo. USD LIBOR + 1.000% 1.110% FRN 6/15/27 (a)		1,351		1,351
Series 2016-C, Class A2B, 1 mo. USD LIBOR + 1.100% 1.210% FRN 9/15/34 (a)		112,843		113,752
2015-A CLASS, 1 mo. USD LIBOR + 1.500% 1.610% FRN 2/17/32 (a)		900,000		901,940
Series 2014-A, Class B, 4.000% 9/15/42 (a)		1,250,000		1,274,612
Series 2015-C, Class C, 4.500% 9/17/46 (a)		1,710,000		1,778,702

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SoFi Alternative Trust, Series 2019-C, Class PT,
5.431% VRN 1/25/45 (a) (c)	$	2,809,942	$	2,966,119
SoFi Professional Loan Program LLC
Series 2016-D, Class A1, 1 mo. USD LIBOR + .950% 1.053% FRN 1/25/39 (a)		15,069		15,072
Series 2016-B, Class A1, 1 mo. USD LIBOR + 1.200% 1.303% FRN 6/25/33 (a)		84,035		84,199
Sofi Professional Loan Program LLC, Series 2019-A, Class BFX, ABS, 144A
4.110% 6/15/48 (a)		870,000		894,759
SoFi Professional Loan Program LLC, Series 2017-C, Class C,
4.210% VRN 7/25/40 (a) (c)		2,410,000		2,440,585
Wachovia Student Loan Trust, Series 2005-1, Class B, ABS, FRN, 3 mo. USD LIBOR + .300%
0.424% FRN 10/25/40		446,953		415,213
				60,300,624
Whole Loan Collateral Collateralized Mortgage Obligations — 8.1%
Angel Oak Mortgage Trust
Series 2020-5, Class A2, 1.579% VRN 5/25/65 (a) (c)		1,223,596		1,223,540
Series 2020-5, Class A3, 2.041% VRN 5/25/65 (a) (c)		1,114,990		1,115,952
Series 2021-1, Class M1, 2.215% VRN 1/25/66 (a) (c)		2,290,000		2,278,920
Series 2021-3, Class M1, 2.479% VRN 5/25/66 (a) (c)		6,583,000		6,568,588
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
2.499% VRN 8/25/34 (c)		14,762		14,551
Citigroup Mortgage Loan Trust
Series 2019-IMC1, Class A3, 3.030% VRN 7/25/49 (a) (c)		793,737		792,953
Series 2019-IMC1, Class M1, 3.170% VRN 7/25/49 (a) (c)		4,899,000		4,931,134
Credit Suisse Mortgage Capital Certificates, Series 2021-NQM4, Class M1,
2.472% VRN 5/25/66 (a) (c)		7,095,350		7,030,868
Credit Suisse Mortgage Trust, Series 2021-NQM2, Class A3,
1.538% VRN 2/25/66 (a) (c)		6,025,116		6,011,491
Deephaven Residential Mortgage Trust, Series 2021-1, Class A3,
1.128% VRN 5/25/65 (a) (c)		2,344,374		2,320,825
Flagstar Mortgage Trust, Series 2021-6INV, Class A18,
2.500% VRN 8/25/51 (a) (c)		4,703,075		4,667,435
FWD Securitization Trust, Series 2020-INV1, Class M1,
2.850% VRN 1/25/50 (a) (c)		1,804,000		1,815,578
Merrill Lynch Mortgage Investors, Inc., Series 2004-A1, Class IIA2,
2.240% VRN 2/25/34 (c)		49,499		48,550
MFRA Trust
Series 2021-NQM2, Class A3, 1.472% VRN 11/25/64 (a) (c)		3,851,300		3,817,664
Series 2020-NQM1, Class A3, 2.300% VRN 8/25/49 (a) (c)		791,862		794,070

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
New Residential Mortgage Loan Trust, Series 2020-NQM1, Class M1,
3.207% VRN 1/26/60 (a) (c)	$	2,252,000	$	2,272,805
NewRez Warehouse Securitization Trust, Series 2021-1, Class C, 1 mo. USD LIBOR + 1.050%
1.152% FRN 5/25/55 (a)		6,739,000		6,740,601
NLT Trust, Series 2021-INV2, Class A3,
1.520% VRN 8/25/56 (a) (c)		7,147,754		7,090,244
OBX Trust, Series 2020-INV1, Class A21,
3.500% VRN 12/25/49 (a) (c)		1,480,083		1,507,183
Oceanview Trust 2021-EBO1, Series 2021-1, Class M3,
3.090% VRN 12/29/51 (a) (c)		5,000,000		4,997,018
Onslow Bay Financial LLC
Series 2021-NQM3, Class A3, 1.362% VRN 7/25/61 (a) (c)		6,712,159		6,652,321
Series 2021-NQM1, Class M1, 2.219% VRN 2/25/66 (a) (c)		2,501,000		2,470,263
Shellpoint Co-Originator Trust, Series 2016-1, Class 2A3,
3.000% VRN 10/25/31 (a) (c)		237,503		239,810
STAR Trust, Series 2021-1, Class A3,
1.528% VRN 5/25/65 (a) (c)		5,177,911		5,159,811
Starwood Mortgage Residential Trust, Series 2021-3, Class M1,
2.491% VRN 6/25/56 (a) (c)		5,582,000		5,566,827
Starwood Mortgage Residential Trust
Series 2021-3, Class A3, 1.518% VRN 6/25/56 (a) (c)		5,304,651		5,272,036
Series 2020-INV1, Class M1, 2.501% 11/25/55 (a)		2,500,000		2,501,316
Series 2020-1, Class M1, 2.878% VRN 2/25/50 (a) (c)		4,700,000		4,729,543
Series 2019-INV1, Class A3, 2.916% VRN 9/27/49 (a) (c)		3,445,803		3,467,308
TRK Trust, Series 2021-INV1, Class M1,
2.585% VRN 7/25/56 (a) (c)		1,222,000		1,213,406
Verus Securitization Trust
Series 2021-5, Class A3, 1.373% VRN 9/25/66 (a) (c)		2,537,259		2,515,838
Series 2021-1, Class M1, 1.968% VRN 1/25/66 (a) (c)		2,247,000		2,233,106
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (c)		2,870,802		2,888,080
Series 2019-INV3, Class M1, 3.279% VRN 11/25/59 (a) (c)		2,129,000		2,147,503
Series 2020-4, Class M1, 3.291% VRN 5/25/65 (a) (c)		3,602,000		3,650,659
				116,747,797
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $642,762,021)				640,708,458

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (e) — 1.6%
Pass-Through Securities — 0.0%
Federal Home Loan Mortgage Corp. Pool #1Q0239, 1 year CMT + 2.200% 2.325% 3/01/37	$	89,709	$	94,054
Federal National Mortgage Association Pool #775539 12 mo. USD LIBOR + 1.641% 1.891% 5/01/34		15,007		15,534
Government National Mortgage Association Pool #507545 7.500% 8/15/29		21,580		24,551
				134,139
Whole Loans — 1.6%
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2020-DNA6, Class M1, SOFR30A + .900% 0.950% FRN 12/25/50 (a)		764,545		764,343
Series 2018-DNA2, Class M2AS, 1 mo. USD LIBOR + .950% 1.053% FRN 12/25/30 (a)		4,605,000		4,593,541
Series 2021-DNA6, Class M2, SOFR30A + 1.500% 1.550% FRN 10/25/41 (a)		9,285,000		9,284,997
Series 2021-DNA1, Class M2, SOFR30A + 1.800% 1.850% FRN 1/25/51 (a)		2,566,000		2,572,081
Series 2018-DNA3, Class M2A, 1 mo. USD LIBOR + 2.100% 2.203% FRN 9/25/48 (a)		3,100,000		3,124,667
Series 2021-DNA2, Class M2, SOFR30A + 2.300% 2.350% FRN 8/25/33 (a)		2,024,000		2,061,151
				22,400,780
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $22,497,346)				22,534,919
TOTAL BONDS & NOTES (Cost $1,417,030,044)				1,410,717,186
TOTAL PURCHASED OPTIONS (#) — 0.1% (Cost $1,842,046)				1,648,654
	Number of Shares
MUTUAL FUNDS — 0.1%
Diversified Financial Services — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio (f)		1,694,178		1,694,178
TOTAL MUTUAL FUNDS (Cost $1,694,178)				1,694,178
TOTAL LONG-TERM INVESTMENTS (Cost $1,420,566,268)				1,414,060,018
	Principal Amount
SHORT-TERM INVESTMENTS — 0.9%
Commercial Paper — 0.9%
CenterPoint Energy, Inc.
0.446% 1/11/22 (a)	$	3,000,000		2,999,826
Enbridge (us), Inc.
0.385% 1/21/22 (a)		4,000,000		3,999,431
Mohawk Industries, Inc.
0.304% 1/07/22 (a)		5,000,000		4,999,844
Tampa Electric Co.
0.355% 1/10/22 (a)		1,000,000		999,977
				12,999,078
TOTAL SHORT-TERM INVESTMENTS (Cost $12,998,451)				12,999,078
TOTAL INVESTMENTS — 98.9% (Cost $1,433,564,719) (g)				1,427,059,096
Other Assets/(Liabilities) — 1.1%				16,319,833
NET ASSETS — 100.0%			$	1,443,378,929

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $983,448,301 or 68.14% of net assets.

(b) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $1,661,720 or 0.12% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. (Note 2).

(c) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2021.

(d) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2021, these securities amounted to a value of $12,974,584 or 0.90% of net assets.

(e) 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.

(f) Represents investment of security lending cash collateral. (Note 2).

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

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

(#) Interest Rate Swaptions Purchased
			Paid by Fund		Received by Fund
Description	Counterparty	Expiration Date	Rate	Frequency	Rate	Frequency	Notional Amount		Value		Premium Paid (Received)		Unrealized Appreciation/ (Depreciation)
Call
10-Year Interest Rate Swap, 12/15/42	Barclays Bank PLC	12/13/32	3-Month USD LIBOR BBA	Quarterly	2.44%##	Semi-Annually	USD	800,000	$	68,712	$	39,994	$	28,718
10-Year Interest Rate Swap, 12/15/42	JPMorgan Chase Bank N.A.	12/13/32	3-Month USD LIBOR BBA	Quarterly	2.44%##	Semi-Annually	USD	1,958,250		168,187		189,000		(20,813)
										236,899		228,994		7,905
Put
10-Year Interest Rate Swap, 2/02/43	Credit Suisse International	1/31/33	3.11%##	Semi-Annually	3-Month USD LIBOR BBA	Quarterly	USD	11,880,000	$	376,121	$	569,052	$	(192,931)
10-Year Interest Rate Swap, 12/15/42	JPMorgan Chase Bank N.A.	12/13/32	2.94%##	Semi-Annually	3-Month USD LIBOR BBA	Quarterly	USD	22,790,000		798,149		803,000		(4,851)
10-Year Interest Rate Swap, 2/02/43	JPMorgan Chase Bank N.A.	1/31/33	3.11%##	Semi-Annually	3-Month USD LIBOR BBA	Quarterly	USD	7,500,000		237,485		241,000		(3,515)
										1,411,755		1,613,052		(201,297)
									$	1,648,654	$	1,842,046	$	(193,392)

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Note 10 Year	3/22/22		337	$	43,837,405	$	130,564
U.S. Treasury Note 2 Year	3/31/22		2,510		547,706,272		(94,863)
						$	35,701
Short
U.S. Treasury Ultra 10 Year	3/22/22		144	$	(21,032,283)	$	(54,717)
U.S. Treasury Note 5 Year	3/31/22		3,375		(407,898,274)		(397,626)
						$	(452,343)

MassMutual Short-Duration Bond Fund —  Portfolio of Investments (Continued)

Centrally Cleared Interest Rate Swaps
Paid by the Fund		Received by the Fund
Rate/ Reference	Frequency	Rate/ Reference		Frequency		Termination Date		Notional Amount		Value		Upfront Premium Paid/ (Received)		Unrealized Appreciation (Depreciation)
3-Month USD LIBOR BBA	Quarterly		Fixed 1.047%		Semi-Annually		11/22/24	USD	60,500,000	$	(151,349)	$	—	$	(151,349)
3-Month USD LIBOR BBA	Quarterly		Fixed 1.143%		Semi-Annually		12/14/24	USD	129,000,000		(15,399)		—		(15,399)
3-Month USD LIBOR BBA	Quarterly		Fixed 1.174%		Semi-Annually		1/04/25	USD	145,000,000		50,843		—		50,843
										$	(115,905)	$	—	$	(115,905)

^## Exercise Rate.

Currency Legend

USD U.S. Dollar

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 86.7%
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 49.0%
Automobile Asset-Backed Securities — 3.4%
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C
4.530% 3/20/23 (a)	$	1,115,000	$	1,120,774
Carvana Auto Receivables Trust
Series 2020-N3, Class B, 0.660% 6/12/28		7,933,000		7,862,576
Series 2021-P2, 1.880% 5/10/28 (a)		805,297		805,232
OneMain Direct Auto Receivables Trust, Series 2018-1A, Class A
3.430% 12/16/24 (a)		24,431		24,440
Westlake Automobile Receivables Trust, Series 2020-3A, Class D
1.650% 2/17/26 (a)		2,779,000		2,778,878
				12,591,900
Commercial Mortgage-Backed Securities — 3.0%
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500%
1.610% FRN 7/15/35 (a)		1,150,000		1,145,698
BX Commercial Mortgage Trust
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.710% FRN 12/15/36 (a)		1,002,049		997,667
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.810% FRN 11/15/35 (a)		245,455		245,388
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.110% FRN 10/15/36 (a)		2,082,500		2,070,876
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750%
1.860% FRN 12/15/37 (a)		250,836		250,533
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600%
1.710% FRN 5/15/36 (a)		6,000,000		5,977,534

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
1.910% FRN 5/15/36 (a)	$	389,000	$	387,301
				11,074,997
Home Equity Asset-Backed Securities — 1.4%
ABFC Trust, Series 2005-WF1, Class M1, 1 mo. USD LIBOR + .540%
0.642% FRN 11/25/34		514,907		514,435
Centex Home Equity Loan Trust, Series 2006-A, Class M1, 1 mo. USD LIBOR + .450%
0.552% FRN 6/25/36		837,779		832,901
Home Equity Asset Trust, Series 2005-9, Class M1, 1 mo. USD LIBOR + .615%
0.717% FRN 4/25/36		2,505,113		2,487,608
Option One Mortgage Loan Trust Asset-Backed Certificates, Series 2005-5, Class M1, 1 mo. USD LIBOR + .585%
0.687% FRN 12/25/35		1,403,866		1,402,992
				5,237,936
Other Asset-Backed Securities — 24.5%
321 Henderson Receivables LLC, Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200%
0.310% FRN 9/15/41 (a)		64,041		62,869
Affirm Asset Securitization Trust
Series 2021-Z1, Class A, 1.070% 8/15/25 (a)		2,209,046		2,204,698
Series 2021-Z2, Class A, 1.170% 11/16/26 (a)		2,250,000		2,246,065
Series 2020-Z2, Class A, 1.900% 1/15/25 (a)		2,846,996		2,860,888
Series 2020-A, Class A, 2.100% 2/18/25 (a)		7,757,000		7,782,292
Series 2020-Z1, Class A, 3.460% 10/15/24 (a)		1,097,072		1,114,399
Series 2021-A, Class D, 3.490% 8/15/25 (a)		2,100,000		2,111,561
Series 2020-A, Class B, 3.540% 2/18/25 (a)		1,250,000		1,258,010
Arbor Realty Commercial Real Estate Notes, Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.150%
1.260% FRN 6/15/28 (a)		920,000		919,710
BHG Securitization Trust, Series 2021-B, Class A
0.900% 10/17/34 (a)		2,032,533		2,020,581
Citigroup Mortgage Loan Trust, Series 2006-WFH2, Class M1, 1 mo. USD LIBOR + .405%
0.508% FRN 8/25/36		1,916,080		1,915,217
Crossroads Asset Trust, Series 2021-A, Class A2
0.820% 3/20/24 (a)		627,342		627,676

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
FCI Funding LLC
Series 2021-1A, Class A, 1.130% 4/15/33 (a)	$	3,751,836	$	3,731,688
Series 2021-1A, Class B, 1.530% 4/15/33 (a)		2,500,961		2,489,170
First Franklin Mortgage Loan Trust
Series 2006-FF15, Class A5, 1 mo. USD LIBOR + .160% 0.262% FRN 11/25/36		756,135		741,823
Series 2005-FF9, Class A4, 1 mo. USD LIBOR + .720% 0.822% FRN 10/25/35		700,139		698,070
FNA VI LLC, Series 21-1A, Class A
1.350% 1/10/32 (a) (b)		4,764,601		4,713,089
FREED ABS Trust
Series 2021-2, Class A, 0.680% 6/19/28 (a)		1,233,137		1,232,864
Series 2021-2, Class B, 1.030% 6/19/28 (a)		2,652,000		2,641,509
Gracie Point International Funding, Series 2021-1A, Class A, 1 mo. USD LIBOR + .750%
0.849% FRN 11/01/23 (a)		4,266,324		4,276,269
JP Morgan Mortgage Acquisition Trust, Series 2007-CH3, Class A5, 1 mo. USD LIBOR + .260%
0.362% FRN 3/25/37		393,144		388,056
LCM Ltd., Series 19A, Class AR, 3 mo. USD LIBOR + 1.240%
1.364% FRN 7/15/27 (a)		557,700		557,908
Lendingpoint Asset Securitization, Series 2021-A, Class B
1.110% 2/15/29 (a)		5,437,049		5,422,026
Lendmark Funding Trust, Series 2019-2A, Class A
2.780% 4/20/28 (a)		3,655,000		3,708,414
Long Beach Mortgage Loan Trust, Series 2006-WL1, Class 2A4, 1 mo. USD LIBOR + .680%
0.782% FRN 1/25/46		240,549		240,549
Marlette Funding Trust
Series 2020-1A, Class B, 2.380% 3/15/30 (a)		3,380,355		3,392,509
Series 2019-4A, Class A, 2.390% 12/17/29 (a)		181,858		182,016
Series 2019-4A, Class B, 2.950% 12/17/29 (a)		2,250,000		2,267,071
Series 2019-2A, Class B, 3.530% 7/16/29 (a)		902,107		905,368
New Residential Advance Receivables Trust Advance Receivables Backed
Series 2020-T1, Class BT1, 1.823% 8/15/53 (a)		1,000,000		996,408
Series 2020-T1, Class DT1, 3.011% 8/15/53 (a)		1,510,000		1,504,367
NP SPE II LLC, Series 2019-1A, Class A1
2.574% 9/20/49 (a)		232,206		230,590
NRZ Advance Receivables Trust, Series 2020-T3, Class CT3
1.814% 10/15/52 (a)		579,000		573,945
Onemain Financial Issuance Trust, Series 2018-1A, Class A
3.300% 3/14/29 (a)		1,056,114		1,057,572
Orange Lake Timeshare Trust

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2016-A, Class A, 2.610% 3/08/29 (a)	$	404,795	$	408,189
Series 2016-A, Class B, 2.910% 3/08/29 (a)		536,387		540,590
Pagaya AI Debt Selection Trust, Series 2021-3, Class A
1.150% 5/15/29 (a)		5,994,344		5,970,134
Planet Fitness Master Issuer LLC, Series 2018-1A, Class A2I
4.262% 9/05/48 (a)		2,515,500		2,473,723
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850%
2.952% FRN 2/25/23 (a)		270,000		270,682
RAMP Series Trust, Series 2006-RZ4, Class A3, 1 mo. USD LIBOR + .270%
0.372% FRN 10/25/36		1,313,837		1,311,528
Sierra Receivables Funding LLC
Series 2019-3A, Class C, 3.000% 8/20/36 (a)		1,128,898		1,142,056
Series 2019-1A, Class C, 3.770% 1/20/36 (a)		321,171		328,632
Series 2018-1A, Class B, 4.036% 4/20/35		339,552		346,051
Series 2019-3A, Class D, 4.180% 8/20/36 (a)		283,187		286,076
Series 2019-1A, Class D, 4.750% 1/20/36 (a)		206,084		210,485
Structured Asset Investment Loan Trust, Series 2005-2, Class M2, 1 mo. USD LIBOR + .735%
0.837% FRN 3/25/35		1,101,428		1,098,229
Structured Asset Securities Corp. Mortgage Loan Trust
Series 2006-BC6, Class A4, 1 mo. USD LIBOR + .170% 0.272% FRN 1/25/37		345,581		343,753
Series 2006-WF1, Class M4, 1 mo. USD LIBOR + .645% 0.747% FRN 2/25/36		594,326		594,031
Upstart Securitization Trust
Series 2021-4, Class A, 0.840% 9/20/31 (a)		8,247,707		8,168,262
Series 2020-3, Class A, 1.702% 11/20/30 (a)		1,481,045		1,485,459
				92,053,127
Student Loans Asset-Backed Securities — 7.5%
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100%
0.320% FRN 3/28/68		1,918,977		1,875,363
College Loan Corp. Trust, Series 2005-2, Class B, 3 mo. USD LIBOR + .490%
0.614% FRN 1/15/37		269,324		248,274
Commonbond Student Loan Trust
Series 2019-AGS, Class A2, 1 mo. USD LIBOR + .900% 1.002% FRN 1/25/47 (a)		694,995		695,702
Series 2021-AGS, Class B, 1.400% 3/25/52 (a)		304,953		300,337
Series 2018-CGS, Class C, 4.350% 2/25/46 (a)		14,235		14,279

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
DRB Prime Student Loan Trust
Series 2017-C, Class A1, 1 mo. USD LIBOR + .550% 0.652% FRN 11/25/42 (a)	$	69,197	$	69,019
Series 2017-A, Class A1, 1 mo. USD LIBOR + .850% 0.953% FRN 5/27/42 (a)		709,916	$	710,871
EdLinc Student Loan Funding Trust, Series 2017-A, Class A, PRIME-1.150%
2.100% FRN 12/01/47 (a)		229,181		230,224
Edsouth Indenture, No.10 LLC, Series 2015-2, Class B, 1 mo. USD LIBOR + 1.500%
1.603% FRN 12/25/58 (a)		750,000		749,696
ELFI Graduate Loan Program LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + .750%
0.853% FRN 8/25/42 (a)		905,560		906,055
Goal Capital Funding Trust, Series 2010-1, Class A, 3 mo. USD LIBOR + .700%
0.880% FRN 8/25/48 (a)		154,465		154,474
JP Morgan Student Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .350%
0.482% FRN 6/28/39 (a)		247,315		228,153
KeyCorp Student Loan Trust, Series 2005-A, Class 2B, 3 mo. USD LIBOR + .730%
0.950% FRN 9/27/38		589,780		589,696
Laurel Road Prime Student Loan Trust
Series 2019-A, Class A1FX, 2.340% 10/25/48 (a)		216,287		217,818
Series 2018-B, Class A2FX, 3.540% 5/26/43 (a)		1,073,081		1,089,089
Navient Private Education Refi Loan Trust
Series 2021-A, Class A, 0.840% 5/15/69 (a)		7,331,048		7,221,399
Series 2020-HA, Class A, 1.310% 1/15/69 (a)		1,956,121		1,950,383
Navient Student Loan Trust, Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150%
1.253% FRN 3/25/66 (a)		1,387,771		1,419,309
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
1.853% FRN 12/26/40 (a)		48,481		48,514
Nelnet Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/25/38		345,997		315,550
Series 2005-2, Class B, 3 mo. USD LIBOR + .170% 0.384% FRN 3/23/37		523,365		485,985
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.461% FRN 6/25/41		225,731		208,628
Series 2004-3, Class B, 3 mo. USD LIBOR + .350% 0.474% FRN 10/25/40		545,845		510,255
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 6/25/41 (a)		295,000		295,000
SLC Student Loan Trust
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 0.433% FRN 12/15/39		274,361		248,659

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2005-2, Class B, 3 mo. USD LIBOR + .280% 0.483% FRN 3/15/40	$	915,386	$	850,724
SLM Student Loan Trust
Series 2005-5, Class A4, 3 mo. USD LIBOR + .140% 0.264% FRN 10/25/28		869,396		866,024
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/25/70		182,964		172,188
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.334% FRN 10/25/40		230,080		216,186
Series 2006-2, Class B, 3 mo. USD LIBOR + .220% 0.344% FRN 1/25/41		266,410		250,327
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.434% FRN 1/25/55		236,397		225,261
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 0.594% FRN 10/25/64		183,149		176,465
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 0.853% FRN 12/15/38		207,186		198,603
SMB Private Education Loan Trust, Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870%
0.980% FRN 7/15/36 (a)		1,277,964		1,282,344
SoFi Alternative Trust, Series 2019-C, Class PT,
5.431% VRN 1/25/45 (a) (c)		710,478		749,967
SoFi Professional Loan Program LLC
Series 2016-B, Class A2B, 2.740% 10/25/32 (a)		1,152,679		1,159,122
Series 2018-D, Class A2FX, 3.600% 2/25/48 (a)		1,273,521		1,302,769
				28,232,712
Whole Loan Collateral Collateralized Mortgage Obligations — 9.2%
BRAVO Residential Funding Trust
Series 2021-NQM2, Class A3, 1.435% VRN 3/25/60 (a) (c)		1,716,014		1,702,380
Series 2019-NQM1, Class A1, 2.666% VRN 7/25/59 (a) (c)		2,617,751		2,616,614
Cascade Funding Mortgage Trust, Series 2021-EBO1, Class A,
0.985% VRN 11/25/50 (a) (c)		3,066,549		3,059,073
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000%
1.042% FRN 8/25/49 (a)		1,073,954		1,075,153
Citigroup Mortgage Loan Trust, Series 2019-IMC1, Class A3,
3.030% VRN 7/25/49 (a) (c)		269,062		268,796
Deephaven Residential Mortgage Trust, Series 2021-1, Class A3,
1.128% VRN 5/25/65 (a) (c)		904,642		895,556
NewRez Warehouse Securitization Trust 2021-1, Series 2021-1, Class A, 1 mo. USD LIBOR + .750%
0.852% FRN 5/25/55 (a)		5,333,000		5,338,093
Oceanview Trust 2021-EBO1
Series 2021-1, Class A, 1.219% VRN 12/25/51 (a) (c)		7,137,710		7,127,356
Series 2021-1, Class M3, 3.090% VRN 12/25/51 (a) (c)		2,906,000		2,904,267
Onslow Bay Financial LLC
Series 2020-EXP1, Class 2A2, 1 mo. USD LIBOR + .950% 1.052% FRN 2/25/60 (a)		603,404		603,973

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2021-NQM2, Class A2, 1.357% VRN 5/25/61 (a) (c)	$	850,913	$	845,354
Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates, Series 2005-4, Class 1APT, 1 mo. USD LIBOR + .620%
0.722% FRN 11/25/35		218,030		217,500
PSMC Trust, Series 2020-2, Class A2,
3.000% VRN 5/25/50 (a) (c)		1,329,976		1,339,814
STAR Trust, Series 2021-1, Class A3,
1.528% VRN 5/25/65 (a) (c)		3,247,947		3,236,593
Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3,
2.916% VRN 9/27/49 (a) (c)		1,126,290		1,133,319
Verus Securitization Trust
Series 2021-3, Class A3, 1.437% VRN 6/25/66 (a) (c)		1,387,102		1,374,805
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (c)		921,416		926,962
				34,665,608
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $183,403,700)				183,856,280
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (d) — 11.2%
Whole Loans — 11.2%
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2021-DNA1, Class M1, SOFR30A + .650% 0.700% FRN 1/25/51 (a)		431,128		431,094
Series 2021-DNA6, Class M1, SOFR30A + .800% 0.850% FRN 10/25/41 (a)		8,450,000		8,451,082
Series 2021-HQA3, Class M1, SOFR30A + .850% 0.900% FRN 9/25/41 (a)		9,667,000		9,660,982
Series 2020-DNA6, Class M1, SOFR30A + .900% 0.950% FRN 12/25/50 (a)		387,232		387,130
Series 2018-DNA2, Class M2AS, 1 mo. USD LIBOR + .950% 1.053% FRN 12/25/30 (a)		1,800,000		1,795,521
Series 2020-DNA1, Class M2, 1 mo. USD LIBOR + 1.700% 1.803% FRN 1/25/50 (a)		2,658,236		2,665,137
Series 2018-DNA3, Class M2A, 1 mo. USD LIBOR + 2.100% 2.203% FRN 9/25/48 (a)		1,800,000		1,814,323
Series 2018-DNA2, Class M2A, 1 mo. USD LIBOR + 2.150% 2.253% FRN 12/25/30 (a)		4,710,500		4,747,107
Series 2020-DNA5, Class M2, SOFR30A + 2.800% 2.850% FRN 10/25/50 (a)		1,080,409		1,088,846
Federal National Mortgage Association Connecticut Avenue Securities Trust

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2021-R01, Class 1M1, SOFR30A + .750% 0.800% FRN 10/25/41 (a)	$	4,689,769	$	4,692,565
Series 2019-R05, Class 1M2, 1 mo. USD LIBOR + 2.000% 2.103% FRN 7/25/39 (a)		1,283,868		1,285,036
Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% 2.253% FRN 9/25/31 (a)		3,266,618		3,280,006
Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 2.403% FRN 8/25/31 (a)		1,789,228		1,796,806
				42,095,635
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $42,101,482)				42,095,635
U.S. TREASURY OBLIGATIONS — 26.5%
U.S. Treasury Bonds & Notes — 26.5%
U.S. Treasury Inflation Index
0.125% 7/15/24		3,493,620		3,724,458
0.125% 10/15/24		4,849,920		5,180,605
0.125% 4/15/25		2,810,115		3,006,329
0.125% 10/15/25		2,584,298		2,786,348
0.125% 4/15/26		1,897,920		2,048,530
0.125% 7/15/26		2,849,343		3,094,097
0.125% 10/15/26		1,770,860		1,926,018
0.125% 1/15/30		3,009,300		3,341,263
0.125% 7/15/30		3,828,640		4,285,235
0.125% 1/15/31		3,983,363		4,461,755
0.125% 7/15/31		5,184,242		5,829,842
0.125% 2/15/51		3,398,688		4,027,711
0.250% 1/15/25		2,801,880		3,002,116
0.250% 7/15/29		2,729,550		3,059,442
0.250% 2/15/50		1,505,756		1,823,318
0.375% 7/15/25 (e)		3,993,653		4,338,183
0.375% 1/15/27		3,376,895		3,715,046
0.375% 7/15/27		3,334,680		3,700,518
0.500% 4/15/24		1,151,199		1,227,219
0.500% 1/15/28		1,569,414		1,756,518
0.625% 1/15/26		2,676,579		2,940,055
0.625% 2/15/43		1,924,336		2,393,243
0.750% 7/15/28		2,610,745		2,990,679
0.750% 2/15/42		1,652,036		2,088,599
0.750% 2/15/45		2,219,351		2,858,108
0.875% 1/15/29		1,889,048		2,185,170

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
0.875% 2/15/47	$	1,088,225	$	1,470,528
1.000% 2/15/46		583,505		797,783
1.000% 2/15/49		445,042		632,082
1.375% 2/15/44		1,423,752		2,032,740
2.000% 1/15/26		1,532,498		1,773,507
2.125% 2/15/40		639,670		979,420
2.125% 2/15/41		1,022,771		1,583,796
2.375% 1/15/25		2,640,510		3,007,293
2.375% 1/15/27		959,819		1,159,450
3.625% 4/15/28		1,581,408		2,101,481
3.875% 4/15/29		1,513,836		2,108,992
				99,437,477
TOTAL U.S. TREASURY OBLIGATIONS (Cost $96,746,884)				99,437,477
TOTAL BONDS & NOTES (Cost $322,252,066)				325,389,392
TOTAL PURCHASED OPTIONS (#) — 0.2% (Cost $1,137,772)				844,530
TOTAL LONG-TERM INVESTMENTS (Cost $323,389,838)				326,233,922
SHORT-TERM INVESTMENTS — 15.4%
Commercial Paper — 14.4%
AT&T, Inc.
0.508% 6/21/22 (a)		5,000,000		4,987,769
Danaher Corp.
0.254% 1/26/22 (a)		3,000,000		2,999,450
Enbridge (us), Inc.
0.487% 3/16/22 (a)		3,000,000		2,997,719
0.558% 3/23/22 (a)		2,000,000		1,998,264
Eversource Energy
0.243% 1/11/22 (a)		3,000,000		2,999,886
Fidelity National Information Services, Inc.
0.589% 3/17/22 (a)		4,000,000		3,996,774
Ingredion, Inc.
0.406% 3/09/22 (a)		5,000,000		4,996,543

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Nutrien Ltd.
0.406% 3/17/22 (a)	$	5,000,000	$	4,995,493
Parker-Hannifin Corp.
0.325% 2/15/22 (a)		4,000,000		3,998,436
0.711% 3/07/22 (a)		1,000,000		999,263
Tampa Electric Co.
0.355% 1/10/22 (a)		4,000,000		3,999,907
Thermo Fisher Scientific, Inc.
0.508% 6/03/22 (a)		5,000,000		4,990,503
Transcanada Pipelines Ltd.
0.549% 6/13/22 (a)		3,000,000		2,993,795
0.600% 7/14/22 (a)		2,000,000		1,994,746
Waste Management, Inc.
0.326% 7/25/22 (a)		5,000,000		4,988,830
				53,937,378
Repurchase Agreement — 1.0%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (f)		3,924,003		3,924,003
TOTAL SHORT-TERM INVESTMENTS (Cost $57,856,606)				57,861,381
TOTAL INVESTMENTS — 102.3% (Cost $381,246,444) (g)				384,095,303
Other Assets/(Liabilities) — (2.3)%				(8,478,745)
NET ASSETS — 100.0%			$	375,616,558

Abbreviation Legend

FRN Floating Rate Note

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $251,455,786 or 66.94% of net assets.

(b) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2021, these securities amounted to a value of $4,713,089 or 1.25% of net assets.

(c) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2021.

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments

(d) 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.

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

(f) Maturity value of $3,924,003. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $4,002,566.

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

(#) Interest Rate Swaptions Purchased
			Paid by Fund		Received by Fund
Description	Counterparty	Expiration Date	Rate	Frequency	Rate	Frequency	Notional Amount		Value		Premium Paid (Received)		Unrealized Appreciation/ (Depreciation)
Call
10-Year Interest Rate Swap, 12/15/42	Barclays Bank PLC	12/13/32	3-Month USD LIBOR BBA	Quarterly	2.44%##	Semi-Annually	USD	1,219,750	$	104,764	$	60,978	$	43,786
Put
10-Year Interest Rate Swap, 12/15/42	Barclays Bank PLC	12/13/32	2.94%##	Semi-Annually	3-Month USD LIBOR BBA	Quarterly	USD	14,190,000	$	496,934	$	709,401	$	(212,467)
10-Year Interest Rate Swap, 2/02/43	Credit Suisse International	1/31/33	3.11%##	Semi-Annually	3-Month USD LIBOR BBA	Quarterly	USD	7,670,000		242,832		367,393		(124,561)
										739,766		1,076,794		(337,028)
									$	844,530	$	1,137,772	$	(293,242)

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/22		33	$	5,259,483	$	34,955
U.S. Treasury Note 5 Year	3/31/22		18		2,178,760		(1,182)
						$	33,773
Short
U.S. Treasury Ultra 10 Year	3/22/22		26	$	(3,767,275)	$	(40,100)
U.S. Treasury Ultra Bond	3/22/22		20		(3,899,613)		(42,887)
						$	(82,987)

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments

OTC Inflation-Rate Swaps
Paid by the Fund		Received by the Fund
Rate/ Reference	Frequency	Rate/ Reference	Frequency	Counterparty	Termination Date	Notional Amount		Value		Upfront Premium Paid/ (Received)		Unrealized Appreciation (Depreciation)
1.978%	Maturity	U.S. Consumer Price Index	Maturity	Bank of America N.A.	12/24/22	USD	2,000,000	$	122,098	$	—	$	122,098
3.630%	Maturity	U.S. Consumer Price Index	Maturity	Bank of America N.A.	12/02/23	USD	23,000,000		30,132		—		30,132
1.833%	Maturity	U.S. Consumer Price Index	Maturity	Goldman Sachs International	8/28/23	USD	1,500,000		121,409		—		121,409
2.000%	Maturity	U.S. Consumer Price Index	Maturity	JP Morgan Chase Bank N.A.	12/24/23	USD	4,500,000		324,696		—		324,696
								$	598,335	$	—	$	598,335

MassMutual Inflation-Protected and Income Fund —  Portfolio of Investments

OTC Total Return Swaps
Paid by the Fund		Received by the Fund
Rate/ Reference	Frequency	Rate/ Reference	Frequency	Counterparty	Termination Date	No. of Contracts/ Notional		Value		Upfront Premium Received (Paid)/ Received		Unrealized Appreciation (Depreciation)
0.20%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Barclays Bank PLC	5/31/22		63,831,378	$	202,766	$	—	$	202,766
0.17%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	1/31/22		21,541,134		312,917		—		312,917
0.16%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	2/28/22		21,223,870		346,244		—		346,244
0.20%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	BNP Paribas SA	4/29/22		52,375,118		636,241		—		636,241
0.17%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	1/31/22		14,046,294		204,043		—		204,043
0.16%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	2/28/22		43,431,442		708,536		—		708,536
0.20%	Maturity	Bloomberg Barclays US Treasury Inflation Notes TR Index	Maturity	Goldman Sachs International	4/29/22		52,091,775		632,800		—		632,800
								$	3,043,547	$	—	$	3,043,547

^## Exercise Rate

Currency Legend

USD U.S. Dollar

MassMutual Core Bond Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Principal Amount		Value
BONDS & NOTES — 100.5%
CORPORATE DEBT — 37.0%
Aerospace & Defense — 0.1%
The Boeing Co.
5.930% 5/01/60	$	710,000	$	988,926
Agriculture — 1.1%
BAT Capital Corp.
2.259% 3/25/28		930,000		906,970
4.700% 4/02/27		2,855,000		3,142,519
4.758% 9/06/49		805,000		867,144
Imperial Brands Finance PLC
3.875% 7/26/29 (a)		2,702,000		2,864,265
Reynolds American, Inc.
5.850% 8/15/45		1,025,000		1,248,905
Viterra Finance BV
3.200% 4/21/31 (a)		3,140,000		3,163,702
				12,193,505
Airlines — 0.3%
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% 10/20/25 (a)		1,258,000		1,322,573
Spirit Airlines Pass-Through Trust, Series 2015-1, Class A,
4.100% 10/01/29		1,138,164		1,173,497
United Airlines Pass-Through Trust, Series 2018-1, Class B,
4.600% 9/01/27		396,825		402,569
				2,898,639
Auto Manufacturers — 0.4%
General Motors Co.
4.200% 10/01/27		1,290,000		1,412,602
5.150% 4/01/38		785,000		948,227

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
6.800% 10/01/27	$	1,995,000	$	2,450,263
				4,811,092
Auto Parts & Equipment — 0.1%
Lear Corp.
3.550% 1/15/52		1,470,000		1,459,821
Banks — 6.2%
ABN AMRO Bank NV
4.750% 7/28/25 (a)		2,100,000		2,286,578
Associated Banc-Corp.
4.250% 1/15/25		2,580,000		2,733,169
Bank Hapoalim BM 5 year CMT + 2.155%
3.255% VRN 1/21/32 (a)		2,800,000		2,772,000
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		2,930,000		2,841,546
SOFR + 2.150% 2.592% VRN 4/29/31		1,730,000		1,749,397
4.183% 11/25/27		1,380,000		1,510,803
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38		1,125,000		1,323,038
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		615,000		686,234
6.110% 1/29/37		1,275,000		1,718,538
7.750% 5/14/38		1,055,000		1,656,479
The Bank of Nova Scotia 3 mo. USD LIBOR + 2.648%
4.650% VRN (b)		3,550,000		3,518,050
Barclays PLC
4.337% 1/10/28		1,600,000		1,747,881
5.200% 5/12/26		1,035,000		1,154,925
BPCE SA SOFR + 1.730%
3.116% VRN 10/19/32 (a) (c)		2,080,000		2,089,059
Citigroup, Inc.
4.450% 9/29/27		1,075,000		1,199,366
6.000% 10/31/33		510,000		658,595
6.625% 6/15/32		500,000		664,129
8.125% 7/15/39		225,000		381,264
Credit Suisse AG
6.500% 8/08/23 (a)		3,806,000		4,096,208
Discover Bank 5 year USD Swap + 1.730%
4.682% VRN 8/09/28		2,175,000		2,273,367
First Republic Bank
4.375% 8/01/46		1,970,000		2,377,487
Fulton Financial Corp.
3.600% 3/16/22		215,000		216,127

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
The Goldman Sachs Group, Inc.
5.950% 1/15/27	$	1,333,000	$	1,572,151
6.750% 10/01/37		1,565,000		2,223,503
HSBC Holdings PLC
SOFR + 1.285% 2.206% VRN 8/17/29		1,355,000		1,329,400
4.250% 3/14/24		697,000		736,101
4.250% 8/18/25		1,938,000		2,084,623
4.375% 11/23/26		2,151,000		2,361,193
JP Morgan Chase & Co.
SOFR + 2.515% 2.956% VRN 5/13/31		1,350,000		1,399,179
5.600% 7/15/41		1,225,000		1,700,747
Mizrahi Tefahot Bank Ltd. 5 year CMT + 2.250%
3.077% VRN 4/07/31 (a)		3,585,000		3,558,113
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		1,410,000		1,357,622
SOFR + 1.485% 3.217% VRN 4/22/42		1,775,000		1,864,906
4.350% 9/08/26		2,065,000		2,281,142
Valley National Bancorp
5.125% 9/27/23		1,710,000		1,815,806
Wells Fargo & Co.
5.375% 11/02/43		851,000		1,127,881
5.606% 1/15/44		620,000		841,285
				65,907,892
Beverages — 0.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
4.900% 2/01/46		3,425,000		4,342,396
Molson Coors Beverage Co.
4.200% 7/15/46		2,279,000		2,534,243
5.000% 5/01/42		350,000		423,953
				7,300,592
Biotechnology — 0.1%
Amgen, Inc.
3.000% 1/15/52		945,000		920,565
Chemicals — 0.4%
DuPont de Nemours, Inc.
5.319% 11/15/38		1,350,000		1,743,531

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Syngenta Finance NV
4.441% 4/24/23 (a)	$	2,400,000	$	2,481,183
				4,224,714
Computers — 0.3%
Apple, Inc.
2.650% 5/11/50		955,000		942,706
Dell International LLC / EMC Corp.
8.100% 7/15/36		450,000		685,621
Leidos, Inc.
2.300% 2/15/31		1,575,000		1,516,379
				3,144,706
Diversified Financial Services — 3.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300% 1/30/32		4,560,000		4,654,864
Antares Holdings LP
2.750% 1/15/27 (a)		985,000		965,842
3.950% 7/15/26 (a)		2,725,000		2,803,569
6.000% 8/15/23 (a)		1,310,000		1,392,310
8.500% 5/18/25 (a)		1,185,000		1,384,324
Ares Finance Co. III LLC 5 year CMT + 3.237%
4.125% VRN 6/30/51 (a)		1,875,000		1,882,901
Ares Finance Co. LLC
4.000% 10/08/24 (a)		2,380,000		2,488,894
Avolon Holdings Funding Ltd.
2.528% 11/18/27 (a)		2,970,000		2,887,146
3.250% 2/15/27 (a)		1,945,000		1,959,697
4.250% 4/15/26 (a)		3,296,000		3,494,524
5.500% 1/15/26 (a)		205,000		226,656
Blackstone Private Credit Fund
1.750% 9/15/24 (a)		370,000		363,960
2.625% 12/15/26 (a)		1,660,000		1,619,408
Blue Owl Finance LLC
3.125% 6/10/31 (a)		3,455,000		3,384,716
4.125% 10/07/51 (a)		1,875,000		1,885,106
Brookfield Finance, Inc.
4.350% 4/15/30		2,145,000		2,420,282
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (a)		1,852,328		1,787,497

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Lazard Group LLC
4.500% 9/19/28	$	2,055,000	$	2,351,956
Synchrony Financial
2.875% 10/28/31		1,060,000		1,059,025
				39,012,677
Electric — 0.6%
American Transmission Systems, Inc.
2.650% 1/15/32 (a)		605,000		611,337
The Cleveland Electric Illuminating Co.
5.950% 12/15/36		589,000		787,335
CMS Energy Corp.
4.700% 3/31/43		655,000		788,013
4.875% 3/01/44		700,000		883,387
Entergy Arkansas LLC
2.650% 6/15/51		2,290,000		2,136,772
Pacific Gas and Electric Co.
2.500% 2/01/31		1,035,000		986,430
				6,193,274
Food — 0.9%
JBS Finance Luxembourg Sarl
3.625% 1/15/32 (a)		6,550,000		6,574,628
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
5.500% 1/15/30 (a)		928,000		1,009,200
Smithfield Foods, Inc.
2.625% 9/13/31 (a)		1,415,000		1,370,655
3.000% 10/15/30 (a)		1,208,000		1,204,320
				10,158,803
Gas — 0.3%
CenterPoint Energy Resources Corp.
6.625% 11/01/37		1,500,000		2,033,554
NiSource, Inc.
4.800% 2/15/44		1,350,000		1,658,577
				3,692,131
Health Care – Services — 0.3%
City of Hope
4.378% 8/15/48		1,275,000		1,601,300

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
HCA, Inc.
3.500% 7/15/51	$	1,165,000	$	1,192,143
				2,793,443
Insurance — 5.9%
Allianz SE 5 year CMT + 2.973%
3.500% VRN (a) (b)		2,800,000		2,803,500
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		3,220,000		3,348,800
American International Group, Inc. 3 mo. USD LIBOR + 2.868%
5.750% VRN 4/01/48		2,454,000		2,754,615
AmTrust Financial Services, Inc.
6.125% 8/15/23		4,330,000		4,357,712
Ascot Group Ltd.
4.250% 12/15/30 (a)		2,215,000		2,279,838
Athene Global Funding
2.673% 6/07/31 (a)		3,080,000		3,054,877
AXIS Specialty Finance LLC
3.900% 7/15/29		1,505,000		1,634,697
5 year CMT + 3.186% 4.900% VRN 1/15/40		1,670,000		1,746,633
Brighthouse Financial, Inc.
4.700% 6/22/47		1,525,000		1,678,818
5.625% 5/15/30		3,132,000		3,740,683
CNO Financial Group, Inc.
5.250% 5/30/29		2,801,000		3,219,347
Enstar Finance LLC 5 year CMT + 5.468%
5.750% VRN 9/01/40		2,700,000		2,771,091
Enstar Group Ltd.
4.950% 6/01/29		2,050,000		2,282,600
Global Atlantic Fin Co.
3.125% 6/15/31 (a)		2,060,000		2,041,437
5 year CMT + 3.796% 4.700% VRN 10/15/51 (a)		3,580,000		3,632,973
Hill City Funding Trust
4.046% 8/15/41 (a)		2,930,000		2,841,442
Jackson Financial, Inc.
1.125% 11/22/23 (a)		785,000		783,639
Markel Corp. 5 year CMT + 5.662%
6.000% VRN (b)		1,755,000		1,923,919
MetLife Capital Trust IV
7.875% 12/15/67 (a)		925,000		1,262,625
New York Life Insurance Co.
3.750% 5/15/50 (a)		695,000		793,887

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Prudential Financial, Inc.
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43	$	1,300,000	$	1,352,778
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48		3,380,000		3,789,472
3 mo. USD LIBOR + 4.175% 5.875% VRN 9/15/42		650,000		664,329
Sammons Financial Group, Inc.
3.350% 4/16/31 (a)		4,980,000		5,023,296
Teachers Insurance & Annuity Association of America
4.270% 5/15/47 (a)		1,025,000		1,242,151
USF&G Capital I
8.500% 12/15/45 (a)		1,015,000		1,564,588
				62,589,747
Internet — 0.5%
Amazon.com, Inc.
4.050% 8/22/47		1,055,000		1,283,515
Expedia Group, Inc.
4.625% 8/01/27		1,745,000		1,944,397
Netflix, Inc.
5.875% 11/15/28		1,855,000		2,230,637
				5,458,549
Investment Companies — 1.5%
Ares Capital Corp.
2.150% 7/15/26		2,275,000		2,245,231
4.200% 6/10/24		2,100,000		2,216,330
BlackRock TCP Capital Corp.
3.900% 8/23/24		4,215,000		4,402,068
Golub Capital BDC, Inc.
2.500% 8/24/26		1,165,000		1,145,588
3.375% 4/15/24		2,745,000		2,820,882
Sixth Street Specialty Lending, Inc.
3.875% 11/01/24		2,705,000		2,828,640
				15,658,739
Iron & Steel — 0.4%
Vale Overseas Ltd.
6.250% 8/10/26		2,625,000		3,038,464
6.875% 11/21/36		1,100,000		1,461,636
				4,500,100

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Lodging — 0.2%
Las Vegas Sands Corp.
3.200% 8/08/24	$	2,305,000	$	2,347,158
Machinery – Construction & Mining — 0.2%
The Weir Group PLC
2.200% 5/13/26 (a)		1,715,000		1,691,980
Media — 1.1%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.900% 6/01/52		750,000		754,794
6.484% 10/23/45		1,905,000		2,608,735
Comcast Corp.
2.937% 11/01/56 (a)		1,244,000		1,190,157
3.450% 2/01/50		675,000		723,460
3.969% 11/01/47		660,000		762,580
Discovery Communications LLC
4.000% 9/15/55		1,186,000		1,247,588
4.650% 5/15/50		705,000		829,852
Time Warner Cable, Inc.
6.750% 6/15/39		655,000		894,404
ViacomCBS, Inc.
4.200% 5/19/32		1,131,000		1,277,200
4.950% 1/15/31		1,324,000		1,578,779
				11,867,549
Metal Fabricate & Hardware — 0.3%
The Timken Co.
4.500% 12/15/28		2,730,000		3,045,129
Mining — 0.6%
Glencore Finance Canada Ltd.
5.550% STEP 10/25/42 (a)		857,000		1,090,807
Glencore Funding LLC
2.625% 9/23/31 (a)		2,995,000		2,914,161
3.875% 10/27/27 (a)		950,000		1,020,756
Teck Resources Ltd.
6.000% 8/15/40		1,075,000		1,378,204
				6,403,928

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Miscellaneous - Manufacturing — 0.0%
GE Capital International Funding Co. Unlimited Co.
4.418% 11/15/35	$	427,000	$	510,316
Oil & Gas — 2.1%
BP Capital Markets PLC 5 year CMT + 4.036%
4.375% VRN (b)		2,675,000		2,788,687
Cenovus Energy, Inc.
6.750% 11/15/39		1,176,000		1,599,241
Devon Energy Corp.
5.600% 7/15/41		1,075,000		1,351,745
EQT Corp.
3.900% 10/01/27		2,770,000		2,974,315
Marathon Petroleum Corp.
4.500% 4/01/48		495,000		566,152
6.500% 3/01/41		1,060,000		1,460,847
Occidental Petroleum Corp.
6.600% 3/15/46		1,228,000		1,593,330
Ovintiv Exploration, Inc.
5.375% 1/01/26		1,875,000		2,077,758
5.625% 7/01/24		1,200,000		1,321,188
Ovintiv, Inc.
6.500% 2/01/38		530,000		688,791
Patterson-UTI Energy, Inc.
3.950% 2/01/28 (c)		2,845,000		2,859,669
Petroleos Mexicanos
5.350% 2/12/28		1,925,000		1,913,450
6.375% 1/23/45		640,000		555,840
6.500% 3/13/27		295,000		314,718
6.625% 6/15/38		202,000		184,830
				22,250,561
Oil & Gas Services — 0.7%
Halliburton Co.
5.000% 11/15/45		1,300,000		1,557,800
NOV, Inc.
3.600% 12/01/29 (c)		3,570,000		3,690,939
3.950% 12/01/42 (c)		1,778,000		1,746,883
				6,995,622

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pharmaceuticals — 1.0%
AbbVie, Inc.
4.700% 5/14/45	$	1,465,000	$	1,823,110
Bristol-Myers Squibb Co.
4.350% 11/15/47		1,150,000		1,421,286
Cigna Corp.
4.800% 7/15/46		1,105,000		1,399,000
CVS Health Corp.
5.050% 3/25/48		370,000		485,329
6.125% 9/15/39		895,000		1,242,024
CVS Pass-Through Trust
5.926% 1/10/34 (a)		1,683,100		1,998,905
Utah Acquisition Sub, Inc.
5.250% 6/15/46		1,750,000		2,150,380
				10,520,034
Pipelines — 1.9%
Energy Transfer LP
6.125% 12/15/45		1,235,000		1,540,452
3 mo. USD LIBOR + 4.028% 6.250% VRN (b)		2,635,000		2,289,314
EnLink Midstream Partners LP
4.150% 6/01/25		2,972,000		3,083,450
4.850% 7/15/26		996,000		1,048,290
Enterprise Products Operating LLC 3 mo. USD LIBOR + 3.033%
5.250% VRN 8/16/77		2,550,000		2,605,077
MPLX LP 3 mo. USD LIBOR + 4.652%
6.875% VRN (b)		3,550,000		3,558,875
Plains All American Pipeline LP 3 mo. USD LIBOR + 4.110%
6.125% VRN (b)		2,590,000		2,198,263
Plains All American Pipeline LP/PAA Finance Corp.
3.800% 9/15/30		1,570,000		1,641,092
4.700% 6/15/44		1,525,000		1,626,178
6.650% 1/15/37		475,000		611,134
				20,202,125
Private Equity — 1.2%
Apollo Management Holdings LP 5 year CMT + 3.266%
4.950% VRN 1/14/50 (a)		1,970,000		2,021,265
Carlyle Finance Subsidiary LLC
3.500% 9/19/29 (a)		1,345,000		1,437,917
Hercules Capital, Inc.

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.625% 10/23/22	$	3,220,000	$	3,282,365
2.625% 9/16/26		3,662,000		3,631,656
KKR Group Finance Co. VIII LLC
3.500% 8/25/50 (a)		920,000		966,301
KKR Group Finance Co. X LLC
3.250% 12/15/51 (a)		1,135,000		1,135,483
				12,474,987
Real Estate Investment Trusts (REITS) — 2.1%
Broadstone Net Lease LLC
2.600% 9/15/31		2,050,000		1,991,776
Global Net Lease, Inc. / Global Net Lease Operating Partnership LP
3.750% 12/15/27 (a)		1,500,000		1,465,944
Host Hotels & Resorts LP
2.900% 12/15/31		640,000		618,174
3.500% 9/15/30		2,756,000		2,831,987
Kimco Realty Corp.
4.125% 12/01/46		855,000		966,205
4.450% 9/01/47		1,055,000		1,259,942
Omega Healthcare Investors, Inc.
3.375% 2/01/31		1,800,000		1,814,940
Piedmont Operating Partnership LP
2.750% 4/01/32		1,155,000		1,130,686
Service Properties Trust
4.500% 6/15/23		953,000		952,533
4.950% 10/01/29		1,445,000		1,372,750
Spirit Realty LP
2.700% 2/15/32		715,000		708,295
3.200% 1/15/27		425,000		444,509
3.400% 1/15/30		490,000		515,806
4.000% 7/15/29		2,405,000		2,644,187
4.450% 9/15/26		298,000		327,999
WEA Finance LLC
2.875% 1/15/27 (a) (c)		3,195,000		3,289,967
WP Carey, Inc.
2.450% 2/01/32		666,000		650,259
				22,985,959
Software — 0.4%
Microsoft Corp.
2.921% 3/17/52		2,560,000		2,729,039

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
MSCI, Inc.
3.625% 11/01/31 (a)	$	1,301,000	$	1,349,788
				4,078,827
Telecommunications — 1.2%
AT&T, Inc.
3.500% 9/15/53		333,000		337,272
3.550% 9/15/55		6,775,000		6,826,770
Crown Castle Towers LLC
4.241% 7/15/48 (a)		1,750,000		1,909,408
Verizon Communications, Inc.
2.875% 11/20/50		1,000,000		952,640
2.987% 10/30/56		2,599,000		2,470,895
Vodafone Group PLC
5.250% 5/30/48		515,000		672,964
				13,169,949
Transportation — 0.2%
CSX Corp.
4.750% 11/15/48		820,000		1,058,621
Norfolk Southern Corp.
4.050% 8/15/52		1,180,000		1,423,592
				2,482,213
TOTAL CORPORATE DEBT (Cost $377,909,371)				394,934,252
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 28.3%
Automobile Asset-Backed Securities — 0.2%
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C
4.530% 3/20/23 (a)		788,500		792,583
Santander Revolving Auto Loan Trust, Series 2019-A, Class D
3.450% 1/26/32 (a)		1,408,000		1,441,059
				2,233,642
Commercial Mortgage-Backed Securities — 9.6%
Aventura Mall Trust, Series 2018-AVM, Class C,
4.112% VRN 7/05/40 (a) (d)		4,140,000		4,397,473

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350%
1.460% FRN 9/15/34 (a)	$	760,000	$	750,511
BANK, Series 2020-BN30, Class MCDF,
2.918% VRN 12/15/53 (d)		3,165,000		2,930,496
BBCMS Mortgage Trust
Series 2018-CHRS, Class B, 4.267% VRN 8/05/38 (a) (d)		2,200,000		2,347,339
Series 2018-CHRS, Class C, 4.267% VRN 8/05/38 (a) (d)		1,590,000		1,635,028
Series 2018-CHRS, Class D, 4.267% VRN 8/05/38 (a) (d)		1,220,000		1,197,226
Benchmark Mortgage Trust
Series 2021-B23, Class 360A, 2.760% VRN 2/15/54 (a) (d)		3,150,000		3,132,170
Series 2021-B23, Class 360B, 2.760% VRN 2/15/54 (a) (d)		4,800,000		4,648,847
Series 2021-B25, Class 300C, 2.994% VRN 4/15/54 (a) (d)		3,100,000		2,960,723
BGME Trust
Series 2021-VR, Class C, 2.995% VRN 1/10/43 (a) (d)		16,248,000		15,962,760
Series 2021-VR, Class D, 2.995% VRN 1/10/43 (a) (d)		3,790,000		3,655,381
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500%
1.610% FRN 7/15/35 (a)		1,850,000		1,843,079
BX Commercial Mortgage Trust
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.810% FRN 11/15/35 (a)		362,846		362,747
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.910% FRN 10/15/36 (a)		1,827,500		1,824,143
Series 2021-SOAR, Class E, 1 mo. USD LIBOR + 1.800% 1.910% FRN 6/15/38 (a)		2,300,000		2,287,090
Series 2021-VOLT, Class E, 1 mo. USD LIBOR + 2.000% 2.110% FRN 9/15/36 (a)		5,343,000		5,296,256
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.110% FRN 10/15/36 (a)		2,221,900		2,209,498
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750%
1.860% FRN 12/15/37 (a)		1,104,426		1,103,092
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class C
3.502% 8/10/56		1,259,000		1,281,834
Cold Storage Trust, Series 2020-ICE5, Class D, 1 mo. USD LIBOR + 2.100%
2.210% FRN 11/15/37 (a)		4,423,457		4,402,730
Commercial Mortgage Pass-Through Certificates
Series 2015-CR23, Class B, 4.183% VRN 5/10/48 (d)		1,200,000		1,252,108
Series 2015-CR23, Class C, 4.286% VRN 5/10/48 (d)		1,050,000		1,096,134
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class E, 1 mo. USD LIBOR + 2.150%
2.260% FRN 5/15/36 (a)		750,000		746,254

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
DROP Mortgage Trust
Series 2021-FILE, Class C, 1 mo. USD LIBOR + 2.250% 2.360% FRN 4/15/26 (a)	$	3,365,000	$	3,362,901
Series 2021-FILE, Class D, 1 mo. USD LIBOR + 2.750% 2.860% FRN 4/15/26 (a)		1,162,000		1,161,273
Extended Stay America Trust, Series 2021-ESH, Class D, 1 mo. USD LIBOR + 2.250%
2.360% FRN 7/15/38 (a)		2,387,579		2,387,580
GS Mortgage Securities Trust, Series 2019-GC39, Class C,
4.005% VRN 5/10/52 (d)		1,357,000		1,426,587
KIND Trust, Series 2021-KIND, Class C, 1 mo. USD LIBOR + 1.750%
1.860% FRN 8/15/38 (a)		3,100,000		3,080,634
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
1.910% FRN 5/15/36 (a)		1,730,000		1,722,446
Life Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750%
1.860% FRN 3/15/38 (a)		2,549,000		2,520,332
MFT Trust
Series 2020-ABC, Class A, 3.358% 2/10/42 (a)		1,185,000		1,187,289
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (a) (d)		1,278,000		1,264,871
MHC Commercial Mortgage Trust
Series 2021-MHC, Class D, 1 mo. USD LIBOR + 1.601% 1.711% FRN 4/15/38 (a)		2,100,000		2,096,062
Series 2021-MHC, Class E, 1 mo. USD LIBOR + 2.101% 2.211% FRN 4/15/38 (a)		5,140,000		5,131,964
MKT Mortgage Trust
Series 2020-525M, Class D, 2.941% VRN 2/12/40 (a) (d)		595,000		576,142
Series 2020-525M, Class E, 2.941% VRN 2/12/40 (a) (d)		1,220,000		1,136,309
VASA Trust, Series 2021-VASA, Class D, 1 mo. USD LIBOR + 2.100%
2.210% FRN 7/15/39 (a)		4,879,000		4,866,459
Wells Fargo Commercial Mortgage Trust, Series 2018-C45, Class B
4.556% 6/16/51		390,000		425,395
Wells Fargo Commercial Mortgage Trust 2021-FCMT, Series 2021-FCMT, Class B, 1 mo. USD LIBOR + 1.850%
1.960% FRN 5/15/31 (a)		3,000,000		2,993,439
				102,662,602
Other Asset-Backed Securities — 12.6%
AASET Trust
Series 2020-1A, Class A, 3.351% 1/16/40 (a)		1,584,106		1,486,671
Series 2021-2A, Class B, 3.538% 1/15/47 (a)		1,185,000		1,184,950

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Adams Outdoor Advertising LP, Series 2018-1, Class A
4.810% 11/15/48 (a)	$	2,206,105	$	2,274,890
Anchorage Capital CLO 9 Ltd., Series 2016-9A, Class CR2, 3 mo. USD LIBOR + 2.250%
2.374% FRN 7/15/32 (a)		830,000		827,488
Apidos CLO XXV, Series 2016-25A, Class A2R, 3 mo. USD LIBOR + 1.700%
1.832% FRN 10/20/31 (a)		2,610,000		2,610,705
ASSURANT CLO Ltd., Series 2018-3A, Class CR, 3 mo. USD LIBOR + 2.050%
2.182% FRN 10/20/31 (a)		1,250,000		1,246,439
Avery Point VII CLO Ltd., Series 2015-7A, Class DR, 3 mo. USD LIBOR + 3.600%
3.724% FRN 1/15/28 (a)		1,000,000		1,000,226
Ballyrock CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 3.150%
3.310% FRN 11/20/30 (a)		800,000		788,224
Benefit Street Partners CLO V-B Ltd., Series 2018-5BA, Class A1A, 3 mo. USD LIBOR + 1.090%
1.222% FRN 4/20/31 (a)		1,920,000		1,915,826
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A
2.940% 5/25/29 (a)		322,705		327,501
Business Jet Securities LLC
Series 2020-1A, Class A, 2.981% 11/15/35 (a)		697,870		696,974
Series 2021-1A, Class C, 5.067% 4/15/36 (a)		1,296,330		1,283,326
Canyon Capital CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 2.150%
2.274% FRN 10/15/34 (a)		800,000		799,997
Capital Automotive REIT
Series 2020-1A, Class A3, 3.250% 2/15/50 (a)		560,040		572,786
Series 2020-1A, Class A6, 3.810% 2/15/50 (a)		491,562		522,906
Series 2017-1A, Class A2, 4.180% 4/15/47 (a)		868,299		898,848
Carlyle Global Market Strategies CLO Ltd.
Series 2018-4A, Class A2, 3 mo. USD LIBOR + 1.800% 1.932% FRN 1/20/31 (a)		1,080,000		1,080,037
Series 2015-3A, Class CR, 3 mo. USD LIBOR + 2.850% 2.986% FRN 7/28/28 (a)		310,000		307,502
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A
3.967% 4/15/39 (a)		753,319		742,620
CBAM Ltd., Series 2018-6A, Class B1R, 3 mo. USD LIBOR + 2.100%
2.224% FRN 1/15/31 (a)		1,200,000		1,200,294
Cedar Funding IX CLO Ltd., Series 2018-9A, Class A1, 3 mo. USD LIBOR + .980%
1.112% FRN 4/20/31 (a)		1,000,000		998,025

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
CF Hippolyta LLC, Series 2020-1, Class B1
2.280% 7/15/60 (a)	$	647,114	$	646,118
CIFC Funding Ltd., Series 2017-5A, Class A1, 3 mo. USD LIBOR + 1.180%
1.302% FRN 11/16/30 (a)		2,100,000		2,099,996
Clear Creek CLO Ltd., Series 2015-1A, Class AR, 3 mo. USD LIBOR + 1.200%
1.332% FRN 10/20/30 (a)		2,120,000		2,120,314
Eaton Vance CLO Ltd.
Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.750% 1.874% FRN 10/15/30 (a)		1,700,000		1,700,734
Series 2020-1A, Class CR, 3 mo. USD LIBOR + 2.050% 2.174% FRN 10/15/34 (a)		400,000		398,422
Elmwood CLO II Ltd., Series 2019-2A, Class AR, 3 mo. USD LIBOR + 1.150%
1.282% FRN 4/20/34 (a)		3,500,000		3,500,448
Elmwood CLO III Ltd., Series 2019-3A, Class BR, 3 mo. USD LIBOR + 1.650%
1.774% FRN 10/20/34 (a)		1,300,000		1,295,091
Elmwood CLO IV Ltd., Series 2020-1A, Class A, 3 mo. USD LIBOR + 1.240%
1.364% FRN 4/15/33 (a)		1,000,000		1,000,550
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (a)		94,415		94,787
Flexential Issuer
Series 2021-1A, Class B, 3.720% 11/27/51 (a)		4,000,000		3,998,031
Series 2021-1A, Class C, 6.930% 11/27/51 (a)		4,000,000		3,902,188
Goldentree Loan Management US CLO Ltd., Series 2019-5A, Class CR, 3 mo. USD LIBOR + 2.050%
2.182% FRN 10/20/32 (a)		800,000		799,995
Goodgreen Trust
Series 2019-2A, Class A, 2.760% 4/15/55 (a)		2,865,285		2,877,245
Series 2016-1A, Class A, 3.230% 10/15/52 (a)		1,121,527		1,150,289
Series 2017-1A, Class A, 3.740% 10/15/52 (a)		540,836		559,731
Series 2019-1A, Class A, 3.860% 10/15/54 (a)		1,126,266		1,172,661
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (d)		1,423,996		1,478,530
Hero Funding Trust
Series 2016-3A, Class A1, 3.080% 9/20/42 (a)		518,303		530,792
Series 2017-3A, Class A1, 3.190% 9/20/48 (a)		567,771		581,010
Series 2017-2A, Class A1, 3.280% 9/20/48 (a)		171,132		175,354
Series 2016-4A, Class A1, 3.570% 9/20/47 (a)		546,496		565,328
Series 2017-2A, Class A2, 4.070% 9/20/48 (a)		137,662		142,590
Series 2018-1A, Class A2, 4.670% 9/20/48 (a)		985,944		1,035,401

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Highbridge Loan Management Ltd., Series 13A-18, Class C, 3 mo. USD LIBOR + 2.150%
2.274% FRN 10/15/30 (a)	$	1,000,000	$	999,421
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A
4.458% 12/15/38 (a)		1,011,181		980,951
Horizon Aircraft Finance II Ltd, Series 2019-1, Class A
3.721% 7/15/39 (a)		1,431,510		1,402,630
Horizon Aircraft Finance III Ltd., Series 2019-2, Class A
3.425% 11/15/39 (a)		3,433,429		3,362,060
HPS Loan Management Ltd., Series 15A-19, Class A1, 3 mo. USD LIBOR + 1.320%
1.448% FRN 7/22/32 (a)		800,000		800,526
KREF Ltd.
Series 2021-FL2, Class B, 1 mo. USD LIBOR + 1.650% 1.759% FRN 2/15/39 (a)		3,500,000		3,494,421
Series 2021-FL2, Class C, 1 mo. USD LIBOR + 2.000% 2.109% FRN 2/15/39 (a)		5,800,000		5,787,462
Series 2021-FL2, Class D, 1 mo. USD LIBOR + 2.200% 2.309% FRN 2/15/39 (a)		3,200,000		3,189,244
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1
4.300% 1/15/42 (a)		1,912,332		1,868,887
MACH 1 Cayman Ltd., Series 2019-1, Class A
3.474% 10/15/39 (a)		2,158,360		2,112,048
Madison Park Funding Ltd.
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 1.724% FRN 7/15/30 (a)		2,090,000		2,089,992
Series 2018-32A, Class CR, 3 mo. USD LIBOR + 2.000% 2.128% FRN 1/22/31 (a)		1,750,000		1,746,901
Series 2018-29A, Class C, 3 mo. USD LIBOR + 2.200% 2.322% FRN 10/18/30 (a)		680,000		679,999
Mariner Finance Issuance Trust
Series 2021-AA, Class B, 2.330% 3/20/36 (a)		1,771,000		1,768,711
Series 2021-AA, Class C, 2.960% 3/20/36 (a)		835,000		840,490
Mosaic Solar Loans LLC
Series 2017-2A, Class A, 3.820% 6/22/43 (a)		437,536		455,093
Series 2018-1A, Class A, 4.010% 6/22/43 (a)		193,480		200,054
Series 2017-1A, Class A, 4.450% 6/20/42 (a)		196,667		205,823
MVW Owner Trust, Series 2017-1A, Class A
2.420% 12/20/34 (a)		116,893		118,841
New Residential Advance Receivables Trust, Series 2020-T1, Class ET1
5.467% 8/15/53 (a)		2,495,000		2,482,798
NP SPE LLC, Series 2017-1A, Class A2
4.219% 10/21/47 (a)		2,190,000		2,268,650

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Octagon Investment Partners 39 Ltd., Series 2018-3A, Class C, 3 mo. USD LIBOR + 2.200%
2.332% FRN 10/20/30 (a)	$	1,180,000	$	1,175,293
Oxford Finance Funding Trust, Series 2020-1A, Class A2
3.101% 2/15/28 (a)		1,894,000		1,914,488
Parallel Ltd., Series 2021-2A, Class A2, 3 mo. USD LIBOR + 1.850%
1.969% FRN 10/20/34 (a)		550,000		549,197
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A
3.967% 6/15/44 (a)		1,694,594		1,677,170
Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2
3.858% 12/05/49 (a)		2,925,300		3,002,115
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850%
2.952% FRN 2/25/23 (a)		1,180,000		1,182,979
Rad CLO 12 Ltd., Series 2021-12A, Class A, 3 mo. USD LIBOR + 1.170%
1.311% FRN 10/30/34 (a)		2,000,000		2,001,222
Rad CLO 15 Ltd., Series 2021-15A, Class C, 3 mo. USD LIBOR + 2.050%
2.297% FRN 1/20/34 (a)		1,000,000		998,650
Regatta XIV Funding Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.850%
1.974% FRN 10/25/31 (a)		1,030,000		1,030,080
Sierra Receivables Funding LLC
Series 2020-2A, Class B, 2.320% 7/20/37 (a)		682,208		685,702
Series 2021-1A, Class D, 3.170% 11/20/37 (a)		1,373,175		1,368,318
Series 2018-3A, Class D, 5.200% 9/20/35 (a)		572,001		587,107
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300%
2.460% FRN 8/18/31 (a)		1,660,000		1,630,728
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + 1.200%
1.302% FRN 11/25/35 (a)		718,705		705,718
Structured Receivables Finance LLC, Series 2010-B, Class A
3.730% 8/15/36 (a)		142,072		145,919
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A
4.870% 7/20/48 (a)		592,558		628,238
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A
4.190% 1/15/71 (a)		1,766,403		1,938,907
THL Credit Wind River CLO Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.700%
1.832% FRN 1/20/31 (a)		2,440,000		2,440,059
Thrust Engine Leasing
Series 2021-1A, Class A, 4.163% 7/15/40 (a)		3,653,497		3,659,114
Series 2021-1A, Class B, 6.121% 7/15/40 (a)		1,658,885		1,649,285

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2021-1A, Class C, 7.386% 7/15/40 (a)	$	1,182,541	$	1,173,361
TICP CLO XIV Ltd., Series 2019-14A, Class A2R, 3 mo. USD LIBOR + 1.650%
1.791% FRN 10/20/32 (a)		1,100,000		1,097,585
Vivint Solar Financing V LLC, Series 2018-1A, Class B
7.370% 4/30/48 (a)		2,218,603		2,320,921
Voya CLO Ltd., Series 2015-3A, Class A3R, 3 mo. USD LIBOR + 1.700%
1.832% FRN 10/20/31 (a)		1,500,000		1,492,159
WAVE LLC
Series 2019-1A, Class A, 3.597% 9/15/44 (a)		4,532,083		4,419,947
Series 2017-1A, Class A, 3.844% 11/15/42 (a)		384,854		374,287
Series 2017-1A, Class C, 6.656% 11/15/42 (a)		1,930,286		1,061,824
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (a)		1,083,525		1,061,763
Zaxby's Funding LLC, Series 2021-1A, Class A2
3.238% 7/30/51 (a)		1,091,265		1,106,805
				134,525,783
Student Loans Asset-Backed Securities — 3.2%
College Avenue Student Loans LLC
Series 2019-A, Class B, 3.810% 12/28/48 (a)		1,949,458		1,982,160
Series 2019-A, Class C, 4.460% 12/28/48 (a)		1,303,129		1,329,187
College Loan Corp. Trust I, Series 2007-1, Class B2,
1.627% FRN 1/25/47 (d)		593,056		474,381
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150%
2.100% FRN 12/01/47 (a)		1,045,638		1,050,399
Education Loan Asset-Backed Trust I
Series 2003-1, Class A2, 0.000% FRN 2/01/43 (a) (d)		1,300,000		1,201,401
Series 2003-2, Class 2A1, 0.000% FRN 8/01/43 (a) (d)		1,950,000		1,808,564
Series 2013-1, Class B1, 1 mo. USD LIBOR + 1.000% 1.102% FRN 11/25/33 (a)		917,028		915,502
Higher Education Funding I
Series 2004-1, Class B2, 0.000% FRN 1/01/44 (a) (d)		600,000		522,678
Series 2004-1, Class B1, 1.796% FRN 1/01/44 (a) (d)		600,000		537,683
Laurel Road Prime Student Loan Trust
Series 2017-B, Class BFX, 3.020% 8/25/42 (a)		538,731		545,395
Series 2018-B, Class BFX, 3.720% 5/26/43 (a)		436,918		442,761
Navient Private Education Refi Loan Trust, Series 2019-A, Class B
3.900% 1/15/43 (a)		1,500,000		1,556,661
Navient Student Loan Trust
Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 10/25/58		1,200,000		1,208,424

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2018-EA, Class B, 4.440% 12/15/59 (a)	$	730,000	$	744,628
Nelnet Student Loan Trust
Series 2014-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 10/25/50 (a)		975,000		975,000
Series 2014-5A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 5/26/54 (a)		1,300,000		1,303,652
Series 2015-2A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 5/26/54 (a)		1,130,000		1,130,000
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 6/25/54 (a)		1,100,000		1,100,000
Series 2019-5, Class B, 3.450% 10/25/67 (a)		2,850,000		2,899,013
SLC Student Loan Trust, Series 2005-1, Class B, 3 mo. USD LIBOR + .200%
0.354% FRN 2/15/45		1,313,872		1,232,095
SLM Student Loan Trust
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.334% FRN 10/25/40		1,614,594		1,517,095
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.434% FRN 1/25/55		1,146,167		1,092,175
SMB Private Education Loan Trust
Series 2020-BA, Class B, 2.760% 7/15/53 (a)		3,431,000		3,458,539
Series 2017-A, Class B, 3.500% 6/17/41 (a)		1,800,000		1,848,204
SoFi Alternative Trust, Series 2019-C, Class PT,
5.431% VRN 1/25/45 (a) (d)		3,300,186		3,483,610
				34,359,207
Whole Loan Collateral Collateralized Mortgage Obligations — 2.7%
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
2.499% VRN 8/25/34 (d)		51,183		50,453
Citigroup Mortgage Loan Trust, Series 2019-IMC1, Class M1,
3.170% VRN 7/25/49 (a) (d)		1,188,500		1,196,296
CSMC, Series 2021-NQM3, Class M1,
2.317% VRN 4/25/66 (a) (d)		1,670,000		1,659,790
Flagstar Mortgage Trust, Series 2021-6INV, Class A18,
2.500% VRN 8/25/51 (a) (d)		5,256,268		5,216,435
JP Morgan Mortgage Trust, Series 2017-1, Class A11,
3.469% VRN 1/25/47 (a) (d)		645,970		655,950
New Residential Mortgage Loan Trust, Series 2021-INV1, Class A4,
2.500% VRN 6/25/51 (a) (d)		3,138,868		3,109,196
NewRez Warehouse Securitization Trust, Series 2021-1, Class D, 1 mo. USD LIBOR + 1.400%
1.502% FRN 5/25/55 (a)		3,340,000		3,340,790
NMLT Trust, Series 2021-INV1, Class M1,
2.711% VRN 5/25/56 (a) (d)		3,723,000		3,690,707

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
PSMC Trust, Series 2018-2, Class A1,
3.500% VRN 6/25/48 (a) (d)	$	121,944	$	122,124
Sequoia Mortgage Trust, Series 2018-CH2, Class A3,
4.000% VRN 6/25/48 (a) (d)		387,036		392,628
STAR Trust, Series 2021-1, Class M1,
2.363% VRN 5/25/65 (a) (d)		5,273,000		5,277,504
Starwood Mortgage Residential Trust, Series 2021-3, Class M1,
2.491% VRN 6/25/56 (a) (d)		1,840,000		1,834,999
Verus Securitization Trust, Series 2021-R3, Class M1,
2.411% VRN 4/25/64 (a) (d)		1,491,000		1,492,663
Wells Fargo Mortgage Backed Securities Trust, Series 2019-1, Class A1,
3.978% VRN 11/25/48 (a) (d)		136,886		137,247
				28,176,782
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $301,035,775)				301,958,016
SOVEREIGN DEBT OBLIGATIONS — 0.8%
Colombia Government International Bond
6.125% 1/18/41		2,980,000		3,065,705
Mexico Government International Bond
4.500% 4/22/29		1,175,000		1,308,692
4.750% 3/08/44		3,028,000		3,296,765
6.750% 9/27/34		950,000		1,267,072
				8,938,234
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $8,608,245)				8,938,234
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (e) — 18.9%
Collateralized Mortgage Obligations — 0.0%
Federal Home Loan Mortgage Corp. Series 2178, Class PB 7.000% 8/15/29		88,235		97,853
Pass-Through Securities — 18.9%
Federal Home Loan Mortgage Corp.
Pool #RA4245 2.000% 12/01/50		4,993,760		4,993,902
Pool #RA4255 2.000% 1/01/51		10,401,532		10,418,079
Pool #RA2483 3.500% 6/01/50		7,136,783		7,517,749
Pool #Z40047 4.000% 10/01/41		92,826		100,642
Federal National Mortgage Association

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pool #775539 12 mo. USD LIBOR + 1.641% 1.891% FRN 5/01/34	$	45,080	$	46,662
Pool #CB1757 2.500% 9/01/36		14,482,573		15,056,180
Pool #FM8596 2.500% 9/01/51		2,569,203		2,642,343
Pool #MA3029 3.000% 6/01/32		2,378,259		2,494,721
Pool #MA3090 3.000% 8/01/32		793,817		832,690
Pool #AS1304 3.500% 12/01/28		666,464		702,609
Pool #MA1356 3.500% 2/01/43		4,663,118		5,025,337
Pool #CA6096 3.500% 6/01/50		8,701,780		9,217,952
Pool #FM4017 3.500% 8/01/50		591,910		622,951
Pool #CA1909 4.500% 6/01/48		3,045,109		3,273,890
Pool #AD6437 5.000% 6/01/40		270,095		302,420
Pool #AD6996 5.000% 7/01/40		1,666,775		1,867,829
Pool #AL8173 5.000% 2/01/44		641,735		720,158
Government National Mortgage Association
Pool #781038 6.500% 5/15/29		26,571		29,454
Pool #781468 6.500% 7/15/32		1,842		2,097
Pool #781496 6.500% 9/15/32		8,879		10,034
Pool #345964 7.000% 11/15/23		283		293
Pool #380866 7.000% 3/15/24		251		262
Pool #781124 7.000% 12/15/29		3,444		3,861
Pool #781319 7.000% 7/15/31		64,860		73,769
Pool #581417 7.000% 7/15/32		9,693		10,829
Pool #565982 7.000% 7/15/32		11,896		13,698
Pool #357262 7.500% 9/15/23		271		281
Pool #441009 8.000% 11/15/26		509		562
Pool #522777 8.000% 12/15/29		3,725		4,191
Pool #523043 8.000% 3/15/30		124		141
Pool #529134 8.000% 3/15/30		1,305		1,502
Pool #477036 8.000% 4/15/30		524		604
Pool #503157 8.000% 4/15/30		11,146		12,825
Pool #528714 8.000% 4/15/30		1,027		1,185
Pool #544640 8.000% 11/15/30		8,869		10,272
Pool #531298 8.500% 8/15/30		696		791
Government National Mortgage Association II
Pool #MA6038 3.000% 7/20/49		3,812,968		3,965,581
Pool #MA6283 3.000% 11/20/49		6,744,199		6,992,004
Pool #MA6409 3.000% 1/20/50		6,998,202		7,248,233
Pool #MA4321 3.500% 3/20/47		4,165,034		4,381,956
Government National Mortgage Association II TBA
3.000% 7/01/49 (f)		34,725,000		35,948,515
3.500% 4/01/49 (f)		18,830,000		19,612,810
Uniform Mortgage Backed Securities TBA
2.000% 7/01/51 (f)		10,100,000		10,081,063

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
2.500% 7/01/51 (f)	$	25,375,000	$	25,918,182
3.500% 2/01/49 (f)		15,450,000		16,273,195
4.000% 2/01/49 (f)		4,900,000		5,212,375
				201,646,679
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $202,219,273)				201,744,532
U.S. TREASURY OBLIGATIONS — 15.5%
U.S. Treasury Bonds & Notes — 15.5%
U.S. Treasury Bond
2.250% 8/15/49 (g)		26,100,000		27,886,984
3.500% 2/15/39		28,800,000		36,185,579
U.S. Treasury Note
0.125% 2/15/24 (c)		24,000,000		23,688,055
0.500% 2/28/26		79,600,000		77,368,772
1.625% 8/15/29		500,000		507,550
				165,636,940
TOTAL U.S. TREASURY OBLIGATIONS (Cost $166,487,262)				165,636,940
TOTAL BONDS & NOTES (Cost $1,056,259,926)				1,073,211,974
TOTAL PURCHASED OPTIONS (#) — 0.3% (Cost $3,506,056)				2,738,367
	Number of Shares
MUTUAL FUNDS — 1.3%
Diversified Financial Services —1.3%
State Street Navigator Securities Lending Government Money Market Portfolio (h)		13,722,263		13,722,263
TOTAL MUTUAL FUNDS (Cost $13,722,263)				13,722,263
TOTAL LONG-TERM INVESTMENTS (Cost $1,073,488,245)				1,089,672,604

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 11.3%
Commercial Paper — 11.0%
AT&T, Inc.
0.508% 6/21/22 (a)	$	15,000,000	$	14,963,307
Cigna Corp.
0.457% 3/29/22 (a)		6,000,000		5,994,031
Enbridge (us), Inc.
0.487% 3/16/22 (a)		5,000,000		4,996,198
Fidelity National Information Services, Inc.
0.589% 3/17/22 (a)		8,500,000		8,493,145
Ingredion, Inc.
0.406% 3/09/22 (a)		4,600,000		4,596,820
Nutrien Ltd.
0.406% 3/17/22 (a)		12,000,000		11,989,183
0.406% 3/24/22 (a)		3,000,000		2,996,929
Parker-hannifin Corp.
0.711% 3/07/22 (a)		8,000,000		7,994,104
Tampa Electric Co.
0.355% 1/10/22 (a)		4,000,000		3,999,907
Thermo Fisher Scientific, Inc.
0.508% 6/03/22 (a)		9,000,000		8,982,906
Transcanada Pipelines Ltd.
0.549% 6/13/22 (a)		7,000,000		6,985,522
0.600% 7/14/22 (a)		8,000,000		7,978,983
VW Credit, Inc.
0.336% 1/26/22 (a)		5,000,000		4,999,047
0.356% 2/11/22 (a)		10,000,000		9,996,500
Waste Management, Inc.
0.326% 7/25/22 (a)		5,000,000		4,988,830
0.417% 11/09/22 (a)		7,000,000		6,966,526
				116,921,938
Repurchase Agreement — 0.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (i)		3,654,236		3,654,236
TOTAL SHORT-TERM INVESTMENTS (Cost $120,569,471)				120,576,174

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount	Value
TOTAL INVESTMENTS — 113.4% (Cost $1,194,057,716) (j)		$	1,210,248,778
Other Assets/(Liabilities) — (13.4)%			(142,818,412)
NET ASSETS — 100.0%		$	1,067,430,366

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $519,630,240 or 48.68% of net assets.

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

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $17,168,011 or 1.61% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $3,860,791 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) 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, 2021.

(e) 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.

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

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

(h) Represents investment of security lending cash collateral. (Note 2).

(i) Maturity value of $3,654,236. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $3,727,350.

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

MassMutual Core Bond Fund —  Portfolio of Investments (Continued)

(#) Interest Rate Swaptions Purchased

Paid by Fund

Received by Fund

Description

Counterparty

Expiration Date

Rate

Frequency

Rate

Frequency

Notional Amount

Value

Premium Paid (Received)

Unrealized Appreciation/ (Depreciation)

Call

10 -Year Interest Rate Swap,12/15/42

Barclays Bank PLC

12/13/32

3-Month USD LIBOR BBA

Quarterly

2.44%##

Semi-Annually

USD

5,551,000

$

476,775

$

277,507

$

199,268

Put

10 -Year Interest Rate Swap,12/15/42

Barclays Bank PLC

12/13/32

2.94%##

Semi-Annually

3-Month USD LIBOR BBA

Quarterly

USD

64,580,000

$

2,261,592

$

3,228,549

$

(966,957)

$

2,738,367

$

3,506,056

$

(767,689)

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/22		41	$	6,481,730	$	96,208
U.S. Treasury Ultra Bond	3/22/22		211		41,013,826		579,549
U.S. Treasury Note 2 Year	3/31/22		336		73,441,412		(135,662)
U.S. Treasury Note 5 Year	3/31/22		254		30,740,863		(12,816)
						$	527,279
Short
U.S. Treasury Ultra 10 Year	3/22/22		71	$	(10,273,428)	$	(123,635)

^## Exercise Rate.

Currency Legend

USD U.S. Dollar

MassMutual Diversified Bond Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 0.8%
PREFERRED STOCK — 0.8%
Financial — 0.8%
Insurance — 0.8%
Equitable Holdings, Inc.
4.300% (d)		45,600		1,151,400
Selective Insurance Group, Inc.
4.600% (d)		18,825		487,568
TOTAL PREFERRED STOCK (Cost $1,610,625)				1,638,968
TOTAL EQUITIES (Cost $1,610,625)				1,638,968
	Principal Amount
BONDS & NOTES — 95.5%
CORPORATE DEBT — 48.8%
Aerospace & Defense — 1.0%
BAE Systems PLC
3.000% 9/15/50 (e)	$	230,000		224,743
The Boeing Co.
2.196% 2/04/26		580,000		580,022
5.930% 5/01/60		140,000		194,999
TransDigm, Inc.
5.500% 11/15/27		250,000		257,500
6.250% 3/15/26 (e)		500,000		519,687
6.375% 6/15/26		225,000		231,147
				2,008,098
Agriculture — 1.2%
BAT Capital Corp.
2.259% 3/25/28		320,000		312,076
4.700% 4/02/27		510,000		561,361
4.758% 9/06/49		165,000		177,738

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Imperial Brands Finance PLC
3.875% 7/26/29 (e)	$	545,000	$	577,729
Reynolds American, Inc.
5.850% 8/15/45		150,000		182,766
Viterra Finance BV
3.200% 4/21/31 (e)		580,000		584,378
				2,396,048
Airlines — 0.3%
Alaska Airlines Pass Through Trust, 2020-1 Class A,
4.800% 2/15/29 (e)		415,647		454,193
United Airlines Pass-Through Trust, Series 2018-1, Class B,
4.600% 9/01/27		72,812		73,866
				528,059
Auto Manufacturers — 0.9%
Ford Motor Credit Co. LLC
3.087% 1/09/23		310,000		315,240
4.140% 2/15/23		285,000		291,783
General Motors Co.
4.200% 10/01/27		215,000		235,434
5.150% 4/01/38		230,000		277,824
5.200% 4/01/45		225,000		279,211
6.800% 10/01/27		335,000		411,448
				1,810,940
Auto Parts & Equipment — 0.1%
Lear Corp.
3.550% 1/15/52		305,000		302,888
Banks — 6.1%
Associated Banc-Corp.
4.250% 1/15/25		501,000		530,743
Banco General SA
4.125% 8/07/27 (e)		260,000		278,528
Bank Hapoalim BM 5 year CMT + 2.155%
3.255% VRN 1/21/32 (e)		600,000		594,000
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		580,000		562,490
SOFR + 2.150% 2.592% VRN 4/29/31		100,000		101,121
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		200,000		223,165
6.110% 1/29/37		190,000		256,096
7.750% 5/14/38		125,000		196,265
The Bank of Nova Scotia 3 mo. USD LIBOR + 2.648%
4.650% VRN (f)		575,000		569,825
Barclays PLC
5.200% 5/12/26		610,000		680,681
BPCE SA SOFR + 1.730%
3.116% VRN 10/19/32 (d) (e)		450,000		451,960
Citigroup, Inc.
6.000% 10/31/33		85,000		109,766
Deutsche Bank AG SOFR + 1.219%
2.311% VRN 11/16/27		590,000		589,919
First Republic Bank
4.375% 8/01/46		210,000		253,438

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Fulton Financial Corp.
3.600% 3/16/22	$	35,000	$	35,183
The Goldman Sachs Group, Inc.
5.150% 5/22/45		290,000		378,055
5.950% 1/15/27		170,000		200,499
6.750% 10/01/37		165,000		234,427
HSBC Holdings PLC
SOFR + 1.285% 2.206% VRN 8/17/29		267,000		261,956
4.375% 11/23/26		298,000		327,120
6.500% 9/15/37		125,000		173,314
7.350% 11/27/32		415,000		554,398
Huntington Bancshares, Inc. 3 mo. USD LIBOR + 2.880%
5.700% VRN (f)		510,000		517,650
Intesa Sanpaolo SpA 1 year CMT + 2.600%,
4.198% VRN 6/01/32 (e)		560,000		565,459
JP Morgan Chase & Co.
SOFR + 2.515% 2.956% VRN 5/13/31		235,000		243,561
4.950% 6/01/45 (d)		170,000		221,935
Mizrahi Tefahot Bank Ltd. 5 year CMT + 2.250%
3.077% VRN 4/07/31 (e)		1,225,000		1,215,812
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		280,000		269,599
SOFR + 1.485% 3.217% VRN 4/22/42		310,000		325,702
NBK Tier 1 Financing 2 Ltd. 6 year USD Swap + 2.832%
4.500% VRN (e) (f)		685,000		698,015
SVB Financial Group
10 year CMT + 3.064% 4.100% VRN (f)		210,000		207,690
5 year CMT + 3.074% 4.250% VRN (f)		590,000		598,260
Valley National Bancorp
5.125% 9/27/23		110,000		116,806
Wells Fargo & Co.
5.606% 1/15/44		105,000		142,476
				12,685,914
Beverages — 0.7%
Anheuser-Busch InBev Worldwide, Inc.
4.600% 4/15/48		255,000		312,528
8.200% 1/15/39		250,000		406,818
Bacardi Ltd.
5.150% 5/15/38 (e)		200,000		247,556
Molson Coors Beverage Co.
4.200% 7/15/46		366,000		406,991
5.000% 5/01/42		135,000		163,525
				1,537,418
Biotechnology — 0.1%
Amgen, Inc.
3.000% 1/15/52		190,000		185,087
Building Materials — 0.2%
Standard Industries, Inc.
4.375% 7/15/30 (e)		200,000		204,024
4.750% 1/15/28 (e)		151,000		155,908
				359,932

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Chemicals — 0.7%
Alpek SAB de CV
3.250% 2/25/31 (e)	$	560,000	$	558,600
DuPont de Nemours, Inc.
5.319% 11/15/38		270,000		348,706
Syngenta Finance NV
4.892% 4/24/25 (e)		500,000		537,138
				1,444,444
Commercial Services — 0.0%
ERAC USA Finance LLC
7.000% 10/15/37 (e)		50,000		73,818
Computers — 0.7%
Dell International LLC / EMC Corp.
8.100% 7/15/36		100,000		152,360
8.350% 7/15/46		275,000		458,436
Leidos, Inc.
2.300% 2/15/31		90,000		86,650
5.500% 7/01/33		226,000		272,629
Lenovo Group Ltd.
3.421% 11/02/30 (e)		495,000		499,417
				1,469,492
Distribution & Wholesale — 0.3%
H&E Equipment Services, Inc.
3.875% 12/15/28 (e)		600,000		595,500
Diversified Financial Services — 5.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.400% 10/29/33		935,000		953,187
Alliance Data Systems Corp.
7.000% 1/15/26 (d) (e)		200,000		210,000
Ally Financial, Inc.
5 year CMT + 3.868% 4.700% VRN (f)		600,000		622,500
7 year CMT + 3.481% 4.700% VRN (f)		570,000		587,556
8.000% 11/01/31		376,000		532,795
Antares Holdings LP
2.750% 1/15/27 (e)		645,000		632,455
6.000% 8/15/23 (e)		285,000		302,907
8.500% 5/18/25 (e)		330,000		385,508
Ares Finance Co. III LLC 5 year CMT + 3.237%
4.125% VRN 6/30/51 (e)		360,000		361,517
Ares Finance Co. LLC
4.000% 10/08/24 (e)		375,000		392,158
Avolon Holdings Funding Ltd.
2.528% 11/18/27 (e)		375,000		364,539
3.250% 2/15/27 (e)		175,000		176,322
4.250% 4/15/26 (e)		485,000		514,213
4.375% 5/01/26 (e)		480,000		514,367
5.500% 1/15/26 (e)		135,000		149,261
BGC Partners, Inc.
4.375% 12/15/25		585,000		626,544
Blackstone Private Credit Fund
1.750% 9/15/24 (e)		625,000		614,797
2.625% 12/15/26 (e)		330,000		321,930
Blue Owl Finance LLC

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3.125% 6/10/31 (e)	$	910,000	$	891,488
4.125% 10/07/51 (e)		375,000		377,021
Brookfield Finance, Inc.
4.350% 4/15/30		405,000		456,977
Coinbase Global, Inc.
3.625% 10/01/31 (d) (e)		734,000		675,280
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (e)		638,918		616,556
Lazard Group LLC
3.625% 3/01/27		196,000		209,871
4.500% 9/19/28		275,000		314,739
OneMain Finance Corp.
4.000% 9/15/30		220,000		216,344
Synchrony Financial
2.875% 10/28/31		215,000		214,802
				12,235,634
Electric — 1.3%
American Transmission Systems, Inc.
2.650% 1/15/32 (e)		120,000		121,257
Berkshire Hathaway Energy Co.
5.950% 5/15/37		120,000		161,643
The Cleveland Electric Illuminating Co.
5.950% 12/15/36		175,000		233,928
CMS Energy Corp.
4.700% 3/31/43		115,000		138,353
4.875% 3/01/44		180,000		227,157
Elwood Energy LLC
8.159% 7/05/26		137,190		141,306
Enel Finance International NV
6.000% 10/07/39 (e)		175,000		233,021
Entergy Louisiana LLC
4.950% 1/15/45		110,000		118,256
NextEra Energy Capital Holdings, Inc. 5 year CMT + 2.547%
3.800% VRN 3/15/82		580,000		590,623
Pacific Gas and Electric Co.
3.750% 7/01/28		320,000		332,743
4.300% 3/15/45		195,000		197,733
Virginia Electric & Power Co.
6.000% 1/15/36		100,000		137,359
				2,633,379
Entertainment — 0.0%
Live Nation Entertainment, Inc.
5.625% 3/15/26 (e)		77,000		79,503
Food — 0.6%
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
5.500% 1/15/30 (e)		700,000		761,250
Smithfield Foods, Inc.
2.625% 9/13/31 (e)		285,000		276,068
3.000% 10/15/30 (e)		206,000		205,373
				1,242,691

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Gas — 0.2%
NiSource, Inc.
4.800% 2/15/44	$	295,000	$	362,430
Health Care – Services — 0.4%
DaVita, Inc.
4.625% 6/01/30 (e)		368,000		376,740
HCA, Inc.
5.375% 2/01/25		350,000		384,650
				761,390
Home Builders — 0.4%
Mattamy Group Corp.
4.625% 3/01/30 (e)		35,000		35,646
5.250% 12/15/27 (e)		227,000		238,747
Taylor Morrison Communities, Inc.
5.750% 1/15/28 (e)		500,000		558,750
				833,143
Insurance — 6.1%
Allianz SE 5 year CMT + 2.973%
3.500% VRN (e) (f)		600,000		600,750
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		640,000		665,600
American International Group, Inc. 3 mo. USD LIBOR + 2.868%
5.750% VRN 4/01/48		485,000		544,412
Ascot Group Ltd.
4.250% 12/15/30 (e)		450,000		463,172
AXIS Specialty Finance LLC 5 year CMT + 3.186%
4.900% VRN 1/15/40		490,000		512,485
Brighthouse Financial, Inc.
3.850% 12/22/51		575,000		571,265
4.700% 6/22/47		500,000		550,432
CNO Financial Group, Inc.
5.250% 5/30/29		666,000		765,471
Enstar Finance LLC 5 year CMT + 5.468%
5.750% VRN 9/01/40		1,060,000		1,087,910
Enstar Group Ltd.
4.950% 6/01/29		350,000		389,712
Equitable Holdings, Inc. 5 year CMT + 4.736%
4.950% VRN (f)		505,000		528,988
Global Atlantic Fin Co.
3.125% 6/15/31 (e)		380,000		376,576
5 year CMT + 3.796% 4.700% VRN 10/15/51 (e)		1,170,000		1,187,313
Hill City Funding Trust
4.046% 8/15/41 (e)		490,000		475,190
Jackson Financial, Inc.
3.125% 11/23/31 (e)		550,000		553,525
Markel Corp. 5 year CMT + 5.662%
6.000% VRN (f)		735,000		805,744
MetLife Capital Trust IV
7.875% 12/15/67 (e)		325,000		443,625
Prudential Financial, Inc.
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43		200,000		208,120
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48		350,000		392,401
Sammons Financial Group, Inc.
3.350% 4/16/31 (e)		570,000		574,956

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Teachers Insurance & Annuity Association of America
4.270% 5/15/47 (e)	$	175,000	$	212,075
Unum Group
4.125% 6/15/51		460,000		468,519
USF&G Capital I
8.500% 12/15/45 (e)		95,000		146,439
XLIT Ltd.
5.500% 3/31/45		200,000		274,549
				12,799,229
Internet — 0.5%
Amazon.com, Inc.
4.050% 8/22/47		260,000		316,316
Expedia Group, Inc.
2.950% 3/15/31		660,000		659,790
				976,106
Investment Companies — 2.1%
Ares Capital Corp.
2.150% 7/15/26		560,000		552,672
4.200% 6/10/24		525,000		554,082
BlackRock TCP Capital Corp.
3.900% 8/23/24		170,000		177,545
Golub Capital BDC, Inc.
2.500% 8/24/26		195,000		191,751
3.375% 4/15/24		562,000		577,536
Icahn Enterprises LP/ Icahn Enterprises Finance Corp.
4.750% 9/15/24		500,000		518,750
6.250% 5/15/26		1,000,000		1,041,250
6.750% 2/01/24		200,000		200,500
Sixth Street Specialty Lending, Inc.
3.875% 11/01/24		540,000		564,682
				4,378,768
Iron & Steel — 0.4%
Vale Overseas Ltd.
6.250% 8/10/26		470,000		544,030
6.875% 11/21/36		225,000		298,971
				843,001
Leisure Time — 0.2%
Royal Caribbean Cruises Ltd.
5.500% 8/31/26 (e)		485,000		493,148
Lodging — 0.7%
Las Vegas Sands Corp.
3.900% 8/08/29		525,000		529,122
Travel + Leisure Co.
4.500% 12/01/29 (e)		917,000		924,781
				1,453,903
Machinery – Construction & Mining — 0.2%
The Weir Group PLC
2.200% 5/13/26 (e)		350,000		345,302

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Media — 1.8%
CCO Holdings LLC/CCO Holdings Capital Corp.
5.000% 2/01/28 (e)	$	250,000	$	260,000
Charter Communications Operating LLC/Charter Communications Operating Capital
3.900% 6/01/52		150,000		150,959
Comcast Corp.
4.600% 8/15/45		300,000		374,270
CSC Holdings LLC
4.625% 12/01/30 (e)		250,000		236,563
5.750% 1/15/30 (e)		200,000		199,250
Discovery Communications LLC
4.000% 9/15/55		235,000		247,203
4.650% 5/15/50		55,000		64,740
DISH DBS Corp.
7.375% 7/01/28		1,123,000		1,137,037
Radiate Holdco LLC / Radiate Finance, Inc.
6.500% 9/15/28 (e)		231,000		232,048
Time Warner Cable, Inc.
4.500% 9/15/42		250,000		273,284
6.750% 6/15/39		115,000		157,033
ViacomCBS, Inc.
4.200% 5/19/32		180,000		203,268
4.950% 1/15/31		220,000		262,335
				3,797,990
Mining — 1.3%
AngloGold Ashanti Holdings PLC
3.375% 11/01/28		585,000		579,643
First Quantum Minerals Ltd.
6.875% 3/01/26 (e)		1,000,000		1,038,750
Glencore Finance Canada Ltd.
5.550% STEP 10/25/42 (e)		149,000		189,650
Glencore Funding LLC
3.875% 10/27/27 (e)		260,000		279,365
Perenti Finance Pty Ltd.
6.500% 10/07/25 (d) (e)		325,000		335,692
Teck Resources Ltd.
5.200% 3/01/42		97,000		114,381
6.250% 7/15/41		143,000		190,119
				2,727,600
Oil & Gas — 2.9%
Antero Resources Corp.
7.625% 2/01/29 (e)		125,000		138,750
BP Capital Markets PLC 5 year CMT + 4.036%
4.375% VRN (f)		530,000		552,525
Cenovus Energy, Inc.
6.750% 11/15/39		175,000		237,982
Devon Energy Corp.
5.000% 6/15/45		289,000		350,362
EQT Corp.
6.625% STEP 2/01/25		380,000		428,450
Marathon Petroleum Corp.
6.500% 3/01/41		175,000		241,178

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Nabors Industries, Inc.
7.375% 5/15/27 (e)	$	564,000	$	583,633
Occidental Petroleum Corp.
5.875% 9/01/25		300,000		330,750
6.375% 9/01/28		300,000		356,202
6.600% 3/15/46		235,000		304,912
6.950% 7/01/24		177,000		196,286
Ovintiv, Inc.
6.500% 2/01/38		160,000		207,937
Patterson-UTI Energy, Inc.
3.950% 2/01/28 (d)		540,000		542,784
5.150% 11/15/29 (d)		615,000		624,292
Petroleos Mexicanos
4.625% 9/21/23		575,000		589,381
5.350% 2/12/28		190,000		188,860
6.375% 1/23/45		35,000		30,397
6.500% 3/13/27		65,000		69,345
6.625% 6/15/38		51,000		46,665
				6,020,691
Oil & Gas Services — 0.9%
Halliburton Co.
5.000% 11/15/45		220,000		263,628
NOV, Inc.
3.600% 12/01/29 (d)		742,000		767,136
3.950% 12/01/42 (d)		314,000		308,505
Weatherford International Ltd.
8.625% 4/30/30 (e)		483,000		501,426
				1,840,695
Packaging & Containers — 0.0%
Mauser Packaging Solutions Holding Co.
5.500% 4/15/24 (e)		49,000		49,449
Pharmaceuticals — 1.9%
AbbVie, Inc.
4.700% 5/14/45		350,000		435,555
AdaptHealth LLC
4.625% 8/01/29 (e)		665,000		665,000
Bausch Health Americas, Inc.
9.250% 4/01/26 (e)		400,000		422,500
Bausch Health Cos., Inc.
5.250% 1/30/30 (e)		250,000		220,000
6.125% 4/15/25 (e)		93,000		94,858
6.250% 2/15/29 (e)		245,000		232,809
Bristol-Myers Squibb Co.
4.350% 11/15/47		205,000		253,360
Cigna Corp.
4.800% 7/15/46		185,000		234,222
CVS Health Corp.
5.050% 3/25/48		115,000		150,845
6.125% 9/15/39		25,000		34,693
CVS Pass-Through Trust
5.926% 1/10/34 (e)		175,323		208,219
7.507% 1/10/32 (e)		12,799		15,859
Par Pharmaceutical, Inc.
7.500% 4/01/27 (e)		488,000		498,702

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Utah Acquisition Sub, Inc.
5.250% 6/15/46	$	350,000	$	430,076
				3,896,698
Pipelines — 1.9%
Energy Transfer LP
6.125% 12/15/45		230,000		286,886
3 mo. USD LIBOR + 4.028% 6.250% VRN (f)		615,000		534,318
5 year CMT + 5.134% 6.750% VRN (f)		270,000		270,000
EnLink Midstream Partners LP
4.150% 6/01/25		339,000		351,712
4.850% 7/15/26		154,000		162,085
3 mo. USD LIBOR + 4.110% 6.000% VRN (f)		375,000		299,531
EQM Midstream Partners LP
4.750% 7/15/23		375,000		390,000
MPLX LP 3 mo. USD LIBOR + 4.652%
6.875% VRN (f)		850,000		852,125
Plains All American Pipeline LP/PAA Finance Corp.
3.800% 9/15/30		265,000		277,000
4.500% 12/15/26		80,000		87,869
4.700% 6/15/44		260,000		277,250
6.650% 1/15/37		175,000		225,155
				4,013,931
Private Equity — 1.2%
Apollo Management Holdings LP 5 year CMT + 3.266%
4.950% VRN 1/14/50 (e)		325,000		333,457
Hercules Capital, Inc.
4.625% 10/23/22		945,000		963,303
2.625% 9/16/26		738,000		731,885
KKR Group Finance Co. VIII LLC
3.500% 8/25/50 (e)		160,000		168,052
KKR Group Finance Co. X LLC
3.250% 12/15/51 (e)		230,000		230,098
				2,426,795
Real Estate Investment Trusts (REITS) — 2.2%
Broadstone Net Lease LLC
2.600% 9/15/31		405,000		393,497
Host Hotels & Resorts LP
2.900% 12/15/31		130,000		125,567
3.500% 9/15/30		476,000		489,124
Iron Mountain, Inc.
5.250% 7/15/30 (e)		250,000		263,455
Kimco Realty Corp.
4.450% 9/01/47		250,000		298,565
Omega Healthcare Investors, Inc.
3.625% 10/01/29		640,000		664,868
Piedmont Operating Partnership LP
2.750% 4/01/32		235,000		230,053
Service Properties Trust
4.950% 10/01/29		590,000		560,500
Spirit Realty LP
2.700% 2/15/32		120,000		118,875
3.200% 1/15/27		220,000		230,099
3.400% 1/15/30		325,000		342,116

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.450% 9/15/26	$	59,000	$	64,939
Ventas Realty LP
5.700% 9/30/43		85,000		114,646
WEA Finance LLC
2.875% 1/15/27 (e)		575,000		592,091
WP Carey, Inc.
2.450% 2/01/32		134,000		130,833
				4,619,228
Retail — 0.2%
Nordstrom, Inc.
4.250% 8/01/31 (d)		440,000		432,300
Semiconductors — 0.1%
Broadcom, Inc.
3.500% 2/15/41 (e)		240,000		245,932
Telecommunications — 2.7%
Altice France SA
5.125% 7/15/29 (e)		442,000		431,149
AT&T, Inc.
3.500% 9/15/53		407,000		412,221
3.550% 9/15/55		814,000		820,220
CommScope, Inc.
8.250% 3/01/27 (e)		850,000		872,814
Frontier Communications Holdings LLC
6.000% 1/15/30 (d) (e)		1,138,000		1,143,690
Hughes Satellite Systems Corp.
6.625% 8/01/26		444,000		496,947
Sprint Capital Corp.
6.875% 11/15/28		500,000		632,500
8.750% 3/15/32		141,000		211,500
T-Mobile USA, Inc.
5.375% 4/15/27		165,000		171,707
Verizon Communications, Inc.
2.875% 11/20/50		160,000		152,423
2.987% 10/30/56		233,000		221,515
Vodafone Group PLC
5.250% 5/30/48		106,000		138,513
				5,705,199
Transportation — 0.1%
CSX Corp.
4.750% 11/15/48		145,000		187,195
Trucking & Leasing — 0.3%
AerCap Global Aviation Trust 3 mo. USD LIBOR + 4.300%
6.500% VRN 6/15/45 (e)		600,000		648,000
TOTAL CORPORATE DEBT (Cost $97,567,510)				101,446,968
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 29.6%
Automobile Asset-Backed Securities — 0.3%
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C
4.530% 3/20/23 (e)		111,000		111,574

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
OneMain Direct Auto Receivables Trust, Series 2019-1A, Class D
4.680% 4/14/31 (e)	$	422,000	$	453,005
				564,579
Commercial Mortgage-Backed Securities — 11.4%
Aventura Mall Trust, Series 2018-AVM, Class D,
4.112% VRN 7/05/40 (e) (g)		530,000		527,899
BAMLL Commercial Mortgage Securities Trust
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 1.460% FRN 9/15/34 (e)		150,000		148,127
Series 2019-BPR, Class CMP, 3.895% VRN 11/05/32 (e) (g)		440,000		440,620
Series 2019-BPR, Class DMP, 3.895% VRN 11/05/32 (e) (g)		540,000		526,246
BANK
Series 2020-BN30, Class MCDF, 2.918% VRN 12/15/53 (g)		500,000		462,954
Series 2019-BN17, Class C, 4.516% VRN 4/15/52 (g)		331,000		358,354
BBCMS Mortgage Trust
Series 2018-CHRS, Class B, 4.267% VRN 8/05/38 (e) (g)		400,000		426,789
Series 2018-CHRS, Class C, 4.267% VRN 8/05/38 (e) (g)		280,000		287,929
Series 2018-CHRS, Class D, 4.267% VRN 8/05/38 (e) (g)		270,000		264,960
Benchmark Mortgage Trust
Series 2021-B25, Class 300C, 2.994% VRN 4/15/54 (e) (g)		500,000		477,536
Series 2020-IG1, Class D, 3.245% VRN 9/15/43 (g)		400,000		352,127
BGME Trust, Series 2021-VR, Class D,
2.995% VRN 1/10/43 (e) (g)		3,100,000		2,989,890
BX Commercial Mortgage Trust
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.810% FRN 11/15/35 (e)		85,376		85,352
Series 2021-BXMF, Class E, 1 mo. USD LIBOR + 2.427% 2.517% FRN 10/15/26 (e)		1,500,000		1,483,841
Series 2021-VOLT, Class G, 1 mo. USD LIBOR + 2.850% 2.960% FRN 9/15/36 (e)		2,004,000		1,983,966
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E, 1 mo. USD LIBOR + 2.150%
2.260% FRN 12/15/37 (e)		572,453		571,763
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class C
3.502% 8/10/56		222,000		226,026
Cold Storage Trust, Series 2020-ICE5, Class E, 1 mo. USD LIBOR + 2.766%
2.875% FRN 11/15/37 (e)		589,794		586,294
Commercial Mortgage Pass-Through Certificates, Series 2015-CR23, Class C,
4.286% VRN 5/10/48 (g)		110,000		114,833
DC Office Trust
Series 2019-MTC, Class D, 3.072% VRN 9/15/45 (e) (g)		357,000		345,742
Series 2019-MTC, Class E, 3.072% VRN 9/15/45 (e) (g)		622,000		576,054
DROP Mortgage Trust, Series 2021-FILE, Class D, 1 mo. USD LIBOR + 2.750%
2.860% FRN 4/15/26 (e)		998,000		997,376
GS Mortgage Securities Corp. II, Series 2018-GS10, Class D
3.000% 7/10/51 (e)		599,000		551,171
Hudson Yards Mortgage Trust, Series 2019-30HY, Class E,
3.443% VRN 7/10/39 (e) (g)		630,000		628,682
Jackson Park Trust, Series 2019-LIC, Class D,
3.242% VRN 10/14/39 (e) (g)		686,000		649,776
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-OSB, Class E,
3.783% VRN 6/05/39 (e) (g)		553,000		564,018
JPMBB Commercial Mortgage Securities Trust, Series 2014-C21, Class C,
4.642% VRN 8/15/47 (g)		300,000		305,152

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
KIND Trust, Series 2021-KIND, Class C, 1 mo. USD LIBOR + 1.750%
1.860% FRN 8/15/38 (e)	$	900,000	$	894,378
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800%
1.910% FRN 5/15/36 (e)		263,000		261,852
Life Mortgage Trust, Series 2021-BMR, Class E, 1 mo. USD LIBOR + 1.750%
1.860% FRN 3/15/38 (e)		432,000		427,141
Med Trust 2021-MDLN, Series 2021-MDLN, Class F, 1 mo. USD LIBOR + 4.000%
4.110% FRN 11/15/38 (e)		2,000,000		1,980,024
MFT Trust
Series 2020-ABC, Class A, 3.358% 2/10/42 (e)		205,000		205,396
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (e) (g)		215,000		212,791
MHC Commercial Mortgage Trust, Series 2021-MHC, Class E, 1 mo. USD LIBOR + 2.101%
2.211% FRN 4/15/38 (e)		1,100,000		1,098,280
MKT Mortgage Trust, Series 2020-525M, Class E,
2.941% VRN 2/12/40 (e) (g)		213,000		198,388
VASA Trust, Series 2021-VASA, Class D, 1 mo. USD LIBOR + 2.100%
2.210% FRN 7/15/39 (e)		864,000		861,779
Wells Fargo Commercial Mortgage Trust
Series 2021-FCMT, Class C, 1 mo. USD LIBOR + 2.400% 2.510% FRN 5/15/31 (e)		461,000		459,992
Series 2015-NXS1, Class C, 3.848% VRN 5/15/48 (g)		140,000		140,940
WF-RBS Commercial Mortgage Trust, Series 2012-C8, Class C,
4.891% VRN 8/15/45 (g)		100,000		99,747
				23,774,185
Home Equity Asset-Backed Securities — 0.0%
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .480%
0.582% FRN 10/25/34 (e)		27,365		27,353
Other Asset-Backed Securities — 12.9%
AASET Trust, Series 2019-2, Class C
6.413% 10/16/39 (e)		1,194,659		832,755
AIMCO CLO Series Ltd., Series 2018-AA, Class B, 3 mo. USD LIBOR + 1.400%
1.522% FRN 4/17/31 (e)		250,000		248,476
Anchorage Capital CLO Ltd., Series 2021-19A, Class A, 3 mo. USD LIBOR + 1.210%
1.375% FRN 10/15/34 (e)		1,000,000		1,001,235
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class M1, 1 mo. USD LIBOR + .900%
0.992% FRN 10/25/34		171,160		168,267
ASSURANT CLO Ltd., Series 2018-3A, Class CR, 3 mo. USD LIBOR + 2.050%
2.182% FRN 10/20/31 (e)		250,000		249,288
Atrium XV, Series 15A, Class B, 3 mo. USD LIBOR + 1.750%			��
1.874% FRN 1/23/31 (e)		250,000		248,380
Avery Point VII CLO Ltd., Series 2015-7A, Class DR, 3 mo. USD LIBOR + 3.600%
3.724% FRN 1/15/28 (e)		250,000		250,056
Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class A,
4.213% STEP 12/16/41 (e)		346,644		340,394
BRE Grand Islander Timeshare Issuer LLC
Series 2017-1A, Class A, 2.940% 5/25/29 (e)		55,806		56,636

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2017-1A, Class B, 3.240% 5/25/29 (e)	$	46,101	$	46,766
Business Jet Securities LLC
Series 2020-1A, Class A, 2.981% 11/15/35 (e)		114,576		114,429
Series 2021-1A, Class C, 5.067% 4/15/36 (e)		1,518,513		1,503,279
Canyon Capital CLO Ltd., Series 2019-2A, Class CR, 3 mo. USD LIBOR + 2.150%
2.274% FRN 10/15/34 (e)		250,000		249,999
Capital Automotive REIT
Series 2020-1A, Class B1, 4.170% 2/15/50 (e)		242,000		248,360
Series 2017-1A, Class A2, 4.180% 4/15/47 (e)		144,717		149,809
Series 2020-1A, Class B3, 4.950% 2/15/50 (e)		671,000		699,511
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A
3.967% 4/15/39 (e)		177,502		174,981
CIFC Funding Ltd., Series 2017-5A, Class A1, 3 mo. USD LIBOR + 1.180%
1.302% FRN 11/16/30 (e)		250,000		250,000
DataBank Issuer, Series 2021-1A, Class B
2.650% 2/27/51 (e)		300,000		292,843
Diameter Capital CLO Ltd., Series 2021-2A, Class A1, 3 mo. USD LIBOR + 1.220%
1.343% FRN 10/15/36 (e)		500,000		500,173
Elara HGV Timeshare Issuer LLC
Series 2016-A, Class A, 2.730% 4/25/28 (e)		66,870		68,108
Series 2016-A, Class B, 3.220% 4/25/28 (e)		40,774		41,303
Elmwood CLO II Ltd., Series 2019-2A, Class AR, 3 mo. USD LIBOR + 1.150%
1.282% FRN 4/20/34 (e)		450,000		450,058
Falcon Aerospace Ltd., Series 2019-1, Class C
6.656% 9/15/39 (e)		322,861		250,801
FCI Funding LLC, Series 2019-1A, Class A
3.630% 2/18/31 (e)		13,765		13,819
Goldentree Loan Management US CLO Ltd., Series 2019-5A, Class CR, 3 mo. USD LIBOR + 2.050%
2.182% FRN 10/20/32 (e)		250,000		249,999
Goodgreen Trust
Series 2016-1A, Class A, 3.230% 10/15/52 (e)		181,369		186,020
Series 2017-1A, Class A, 3.740% 10/15/52 (e)		99,847		103,335
Series 2019-2A, Class B, 3.860% 4/15/55 (e)		118,844		120,491
Series 2021-1A, Class C, 5.740% 10/15/56 (e)		557,412		558,578
Gracie Point International Funding, Series 2021-1A, Class C, 1 mo. USD LIBOR + 2.400%
2.499% FRN 11/01/23 (e)		610,000		610,000
Gulf Stream Meridian 1 Ltd., Series 2021-6A, Class A2, 3 mo. USD LIBOR + 1.750%
1.871% FRN 1/15/37 (e)		250,000		249,512
Harbor Park CLO Ltd., Series 2018-1A, Class B1, 3 mo. USD LIBOR + 1.700%
1.832% FRN 1/20/31 (e)		280,000		280,027
Hero Funding Trust
Series 2016-3A, Class A1, 3.080% 9/20/42 (e)		70,471		72,169
Series 2017-3A, Class A1, 3.190% 9/20/48 (e)		96,484		98,734
Series 2017-2A, Class A1, 3.280% 9/20/48 (e)		36,934		37,845
Series 2016-4A, Class A2, 4.290% 9/20/47 (e)		73,777		77,070
Horizon Aircraft Finance I Ltd., Series 2018-1, Class B
5.270% 12/15/38 (e)		225,200		205,137
Horizon Aircraft Finance II Ltd., Series 2019-1, Class B
4.703% 7/15/39 (e)		273,167		252,500
Horizon Aircraft Finance III Ltd., Series 2019-2, Class A
3.425% 11/15/39 (e)		483,244		473,199

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
HPS Loan Management Ltd., Series 15A-19, Class C, 3 mo. USD LIBOR + 2.700%
2.828% FRN 7/22/32 (e)	$	250,000	$	250,098
ITE Rail Fund Levered LP, Series 2021-2A, Class B
2.980% 2/28/51 (e)		800,000		794,638
J.G. Wentworth XLIII LLC, Series 2019-1A, Class B
4.510% 8/15/73 (e)		138,000		148,697
KDAC Aviation Finance Ltd., Series 2017-1A, Class A
4.212% 12/15/42 (e)		317,239		279,330
Kestrel Aircraft Fundig Limited, Series 2018-1A, Class A
4.250% 12/15/38 (e)		370,019		361,547
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1
4.300% 1/15/42 (e)		330,440		322,933
Lunar Aircraft Ltd.
Series 2020-1A, Class B, 4.335% 2/15/45 (e)		122,823		111,531
Series 2020-1A, Class C, 6.413% 2/15/45 (e)		215,157		179,766
MACH 1 Cayman Ltd., Series 2019-1, Class B
4.335% 10/15/39 (e)		319,562		303,721
Madison Park Funding Ltd.
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 1.724% FRN 7/15/30 (e)		950,000		949,996
Series 2018-32A, Class CR, 3 mo. USD LIBOR + 2.000% 2.128% FRN 1/22/31 (e)		300,000		299,469
Mariner Finance Issuance Trust, Series 2021-AA, Class D
3.830% 3/20/36 (e)		381,000		385,399
Mosaic Solar Loans LLC, Series 2017-1A, Class A
4.450% 6/20/42 (e)		32,778		34,304
Neuberger Berman CLO Ltd., Series 2015-20A, Class BRR, 3 mo. USD LIBOR + 1.650%
1.774% FRN 7/15/34 (e)		500,000		498,913
OHA Credit Funding Ltd., Series 2015-11A, Class CR, 3 mo. USD LIBOR + 2.150%
2.282% FRN 1/20/32 (e)		300,000		299,999
Oxford Finance Funding Trust, Series 2020-1A, Class A2
3.101% 2/15/28 (e)		344,000		347,721
Parallel Ltd., Series 2021-2A, Class A2, 3 mo. USD LIBOR + 1.850%
1.969% FRN 10/20/34 (e)		250,000		249,635
Park Place Securities, Inc., Series 2005-WCW3, Class M1, 1 mo. USD LIBOR + .720%
0.822% FRN 8/25/35		13,364		13,606
Pioneer Aircraft Finance Ltd., Series 2019-1, Class B
4.948% 6/15/44 (e)		341,661		320,784
Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2
3.858% 12/05/49 (e)		498,820		511,918
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850%
2.952% FRN 2/25/23 (e)		210,000		210,530
Rad CLO 12 Ltd., Series 2021-12A, Class A, 3 mo. USD LIBOR + 1.170%
1.311% FRN 10/30/34 (e)		500,000		500,305
Rad CLO 15 Ltd., Series 2021-15A, Class C, 3 mo. USD LIBOR + 2.050%
2.297% FRN 1/20/34 (e)		250,000		249,663
Rad CLO 4 Ltd., Series 2019-4A, Class B1, 3 mo. USD LIBOR + 2.100%
2.224% FRN 4/25/32 (e)		250,000		250,906
Renew 2021-1, Series 2021-1, Class M
3.210% 11/20/56 (e)		214,254		210,496
Rockford Tower CLO Ltd., Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.720%
1.880% FRN 5/20/31 (e)		250,000		249,882

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
RRAM., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090%
1.214% FRN 1/15/30 (e)	$	500,000	$	500,011
Sierra Receivables Funding LLC, Series 2020-2A, Class C
3.510% 7/20/37 (e)		76,250		77,531
Slam Ltd., Series 2021-1A, Class B
3.422% 6/15/46 (e)		283,858		279,794
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300%
2.460% FRN 8/18/31 (e)		490,000		481,359
Store Master Funding I-VII and XIV
Series 2019-1, Class A4, 4.490% 11/20/49 (e)		761,979		789,057
Series 2018-1A, Class A4, 4.740% 10/20/48 (e)		234,800		244,992
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A
4.870% 7/20/48 (e)		108,946		115,506
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A
4.190% 1/15/71 (e)		279,380		306,664
THL Credit Wind River CLO Ltd., Series 2018-3A, Class B, 3 mo. USD LIBOR + 1.700%
1.832% FRN 1/20/31 (e)		490,000		490,012
Thrust Engine Leasing
Series 2021-1A, Class B, 6.121% 7/15/40 (e)		1,160,232		1,153,518
Series 2021-1A, Class C, 7.386% 7/15/40 (e)		394,180		391,120
TICP CLO XIV Ltd., Series 2019-14A, Class A2R, 3 mo. USD LIBOR + 1.650%
1.791% FRN 10/20/32 (e)		250,000		249,451
VSE VOI Mortgage LLC, Series 2016-A, Class B
2.740% 7/20/33 (e)		17,526		17,523
Wave USA
4.581% 9/15/44 (e)		608,521		546,898
Willis Engine Structured Trust III, Series 2017-A, Class A,
4.690% STEP 8/15/42 (e)		342,924		332,367
Willis Engine Structured Trust IV, Series 2018-A, Class A,
4.750% STEP 9/15/43 (e)		208,679		204,488
Zaxby's Funding LLC, Series 2021-1A, Class A2
3.238% 7/30/51 (e)		218,453		221,563
				26,761,983
Student Loans Asset-Backed Securities — 2.9%
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500%
1.602% FRN 7/25/58 (e)		130,000		120,526
College Avenue Student Loans LLC
Series 2021-A, Class C, 2.920% 7/25/51 (e)		576,000		575,511
Series 2021-A, Class D, 4.120% 7/25/51 (e)		284,000		284,453
Series 2019-A, Class C, 4.460% 12/28/48 (e)		194,820		198,716
Series 2019-A, Class D, 5.500% 12/28/48 (e)		136,898		142,283
Commonbond Student Loan Trust, Series 2017-AGS, Class C
5.280% 5/25/41 (e)		41,970		43,328
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B
2.500% 1/25/30 (e)		68,619		68,429
EdLinc Student Loan Funding Trust, Series 2017-A, Class A, PRIME - 1.150%
2.100% FRN 12/01/47 (e)		171,886		172,668
EDvestinU Private Education Loan Issue No 3 LLC, Series 2021-A, Class B
3.500% 11/25/50 (e)		600,000		605,226
Goal Capital Funding Trust, Series 2006-1, Class B, 3 mo. USD LIBOR + .450%
0.628% FRN 8/25/42		535,838		510,879
Navient Student Loan Trust

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2018-1A, Class B, 1 mo. USD LIBOR + 1.200% 1.303% FRN 3/25/67 (e)	$	250,000	$	243,561
Series 2018-EA, Class B, 4.440% 12/15/59 (e)		140,000		142,805
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750%
1.853% FRN 12/26/40 (e)		18,090		18,102
Nelnet Student Loan Trust
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.461% FRN 6/25/41		107,656		99,499
Series 2012-2A, Class B, 1 mo. USD LIBOR + 1.000% 1.102% FRN 11/25/36 (e)		200,000		194,770
Series 2012-1A, Class B, 1 mo. USD LIBOR + 1.000% 1.103% FRN 6/25/42 (e)		150,000		147,666
Series 2012-4A, Class B, 1 mo. USD LIBOR + 1.000% 1.103% FRN 7/26/49 (e)		350,000		331,464
Series 2005-4, Class A4R2, 1.191% FRN 3/22/32 (g)		150,000		147,912
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 6/25/41 (e)		100,000		100,000
Series 2014-5A, Class B, 1 mo. USD LIBOR + 1.500% 1.603% FRN 5/26/54 (e)		100,000		100,281
SLM Student Loan Trust
Series 2006-7, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/27/42		260,249		243,768
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 0.324% FRN 1/25/70		142,306		133,924
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.334% FRN 10/25/40		121,095		113,782
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.414% FRN 1/25/44		280,814		264,578
Series 2005-9, Class B, 3 mo. USD LIBOR + .300% 0.424% FRN 1/25/41		354,222		334,736
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 0.594% FRN 10/25/64		94,627		91,174
SMB Private Education Loan Trust, Series 2019-A, Class B
4.000% 11/17/42 (e)		185,000		191,434
SoFi Professional Loan Program LLC
Series 2017-C, Class C, 4.210% VRN 7/25/40 (e) (g)		180,000		182,285
Series 2017-A, Class C, 4.430% VRN 3/26/40 (e) (g)		170,000		172,950
South Carolina Student Loan Corp., Series 2015-A, Class A, 1 mo. USD LIBOR + 1.500%
1.602% FRN 1/25/36		63,924		64,404
				6,041,114
Whole Loan Collateral Collateralized Mortgage Obligations — 2.1%
Angel Oak Mortgage Trust I LLC
Series 2019-4, Class M1, 3.459% VRN 7/26/49 (e) (g)		492,000		492,049
Series 2019-2, Class M1, 4.065% VRN 3/25/49 (e) (g)		260,000		260,663
Bank of America Mortgage Securities, Series 2004-G, Class 2A7,
2.499% VRN 8/25/34 (g)		8,186		8,069
JP Morgan Mortgage Trust, Series 2017-1, Class A11,
3.469% VRN 1/25/47 (e) (g)		102,981		104,572
New Residential Mortgage Loan Trust, Series 2021-NQM3, Class B1,
3.398% VRN 11/27/56 (e) (g)		3,600,000		3,596,592
				4,461,945
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $61,984,507)				61,631,159
SOVEREIGN DEBT OBLIGATIONS — 0.8%
Colombia Government International Bond
6.125% 1/18/41		440,000		452,654
Mexico Government International Bond
4.500% 4/22/29		300,000		334,134
4.750% 3/08/44		414,000		450,747

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
6.750% 9/27/34	$	375,000	$	500,160
				1,737,695
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $1,766,184)				1,737,695
U.S. Government Agency Obligations and Instrumentalities (h) — 13.7%
Collateralized Mortgage Obligations — 0.0%
Federal Home Loan Mortgage Corp. Series 2178, Class PB 7.000% 8/15/29		4,795		5,318
Pass-Through Securities — 13.7%
Federal Home Loan Mortgage Corp.
Pool #RA4245 2.000% 12/01/50		531,743		531,758
Pool #RA4255 2.000% 1/01/51		1,099,721		1,101,471
Federal National Mortgage Association
Pool #CB1757 2.500% 9/01/36		2,837,801		2,950,197
Pool #FM8596 2.500% 9/01/51		518,781		533,550
Pool #MA3029 3.000% 6/01/32		336,805		353,299
Pool #MA3090 3.000% 8/01/32		134,545		141,134
Pool #AR3007 3.000% 2/01/43		99,596		104,982
Pool #AS1304 3.500% 12/01/28		91,242		96,190
Pool #MA1356 3.500% 2/01/43		617,677		665,656
Pool #CA6096 3.500% 6/01/50		1,229,299		1,302,219
Pool #FM4017 3.500% 8/01/50		100,751		106,034
Pool #CA1909 4.500% 6/01/48		495,434		532,657
Pool #AD6437 5.000% 6/01/40		35,155		39,362
Pool #AD6996 5.000% 7/01/40		217,792		244,063
Pool #AL8173 5.000% 2/01/44		84,801		95,164
Government National Mortgage Association
Pool #579140 6.500% 1/15/32		493		556
Pool #587280 6.500% 9/15/32		747		830
Pool #550659 6.500% 9/15/35		60,002		69,064
Pool #538689 6.500% 12/15/35		12,135		14,090
Pool #780651 7.000% 10/15/27		452		495
Pool #462384 7.000% 11/15/27		304		334
Pool #482668 7.000% 8/15/28		657		729
Pool #581417 7.000% 7/15/32		590		659
Pool #423836 8.000% 8/15/26		309		337
Pool #444619 8.000% 3/15/27		499		507
Government National Mortgage Association II
Pool #MA6038 3.000% 7/20/49		640,835		666,484
Pool #MA6283 3.000% 11/20/49		1,129,411		1,170,910
Pool #MA6409 3.000% 1/20/50		1,176,459		1,218,492
Pool #MA4321 3.500% 3/20/47		737,558		775,971
Government National Mortgage Association II TBA
3.000% 7/01/49 (i)		7,025,000		7,272,522
3.500% 4/01/49 (i)		480,000		499,955
Uniform Mortgage Backed Securities TBA
2.000% 7/01/51 (i)		2,925,000		2,919,516
2.500% 7/01/51 (i)		3,875,000		3,957,949
3.500% 2/01/49 (i)		1,100,000		1,158,609
				28,525,745

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Whole Loans — 0.0%
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2019-R04, Class 2M2, 1 mo. USD LIBOR + 2.100%
2.202% FRN 6/25/39 (e)	$	14,314	$	14,328
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $28,562,045)				28,545,391
U.S. TREASURY OBLIGATIONS — 2.6%
U.S. Treasury Bonds & Notes — 2.6%
U.S. Treasury Bond
2.250% 8/15/49 (j)		4,370,000		4,669,200
3.500% 2/15/39		550,000		691,044
				5,360,244
TOTAL U.S. TREASURY OBLIGATIONS (Cost $5,172,775)				5,360,244
TOTAL BONDS & NOTES (Cost $195,053,021)				198,721,457
TOTAL PURCHASED OPTIONS (#) — 0.3% (Cost $718,655)				550,398
	Number of Shares
WARRANTS — 0.0%
Consumer, Non-cyclical — 0.0%
Hercules LLC, Expires 3/31/29, Strike 0.09 (a) (b) (c)		150		4,292
TOTAL WARRANTS (Cost $0)				4,292
MUTUAL FUNDS — 1.5%
Diversified Financial Services — 1.5%
State Street Navigator Securities Lending Government Money Market Portfolio (k)		3,063,822		3,063,822
TOTAL MUTUAL FUNDS (Cost $3,063,822)				3,063,822
TOTAL LONG-TERM INVESTMENTS (Cost $200,446,123)				203,978,937
	Principal Amount
SHORT-TERM INVESTMENTS — 10.6%
Commercial Paper — 9.1%
American Electric Power Co., Inc.
0.254% 1/03/22 (e)	$	2,000,000		1,999,974
Centerpoint Energy, Inc.
0.456% 1/12/22 (e)		3,000,000		2,999,803
Intercontinental Exchange
0.183% 1/05/22 (e)		1,000,000		999,962

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
MUFG Bank Ltd.
0.061% 2/01/22	$	2,000,000	$	1,999,817
National Grid PLC
0.304% 1/25/22 (e)		2,000,000		1,999,639
National Rural Utilities Cooperative Finance Corp.
0.203% 2/01/22		1,000,000		999,917
Oge Energy Corp.
0.294% 1/10/22 (e)		3,000,000		2,999,848
Public Service Enterprise Group, Inc., Barclays Bank PLC,
0.254% 1/18/22 (e)		2,000,000		1,999,768
Tampa Electric Co.
0.355% 1/10/22 (e)		3,000,000		2,999,930
				18,998,658
Repurchase Agreement — 1.5%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (l)		3,195,091		3,195,091
TOTAL SHORT-TERM INVESTMENTS (Cost $22,193,239)				22,193,749
TOTAL INVESTMENTS — 108.7% (Cost $222,639,362) (m)				226,172,686
Other Assets/(Liabilities) — (8.7)%				(18,095,574))
NET ASSETS — 100.0%			$	208,077,112

Abbreviation Legend

CLO Collateralized Loan Obligation

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Investment was valued using significant unobservable inputs.

(b) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2021, these securities amounted to a value of $4,292 or 0.00% of net assets.

(c) Non-income producing security.

(d) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $5,443,160 or 2.62% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $2,541,230 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 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, 2021, the aggregate market value of these securities amounted to $110,940,932 or 53.32% of net assets.

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

(g) 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, 2021.

(h) 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.

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

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

(k) Represents investment of security lending cash collateral. (Note 2).

(l) Maturity value of $3,195,091. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $3,259,071.

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

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

(#) OTC Options Purchased

Description

Counterparty

Expiration Date

Exercise Price

No. of Contracts

Notional Amount

Value

Premiums Paid (Received)

Unrealized Appreciation/ (Depreciation)

Put

USD Put TRY Call

Bank of America N.A.

3/04/22

13.04

165,000

USD

165,000

$

12,068

$

8,255

$

3,813

(#) Interest Rate Swaptions Purchased

Paid by Fund

Received by Fund

Description

Counterparty

Expiration Date

Rate

Frequency

Rate

Frequency

Notional Amount

Value

Premium Paid (Received)

Unrealized Appreciation/ (Depreciation)

Call

10-Year Interest Rate Swap, 12/15/42

Barclays Bank PLC

12/13/32

3-Month USD LIBOR BBA

Quarterly

2.44%##

Semi-Annually

USD

800,000

$

68,712

$

39,994

$

28,718

Put

10-Year Interest Rate Swap, 12/15/42

Barclays Bank PLC

12/13/32

2.94%##

Semi-Annually

3-Month USD LIBOR BBA

Quarterly

USD

13,410,000

$

469,618

$

670,406

$

(200,788)

$

538,330

$

710,400

$

(172,070)

OTC Options Written
Description	Counterparty	Expiration Date		Exercise Price		No. of Contracts		Notional Amount		Value		Premiums Paid (Received)		Unrealized Appreciation/ (Depreciation)
Call
USD Call BRL Put	Bank of America N.A.		1/10/22		5.97		200,000	USD	200,000	$	(35)	$	(4,096)	$	4,061
USD Call TRY Put	Bank of America N.A.		3/04/22		17.39		82,500	USD	82,500		(4,060)		(3,185)		(875)
USD Call ZAR Put	Bank of America N.A.		5/31/22		18.00		391,000	USD	391,000		(4,911)		(6,177)		1,266
EUR Call PLN Put	Bank of America N.A.		6/01/22		4.85		168,000	EUR	168,000		(909)		(1,740)		831
EUR Call PLN Put	Bank of America N.A.		6/02/22		4.85		200,000	EUR	200,000		(1,093)		(1,833)		740
EUR Call PLN Put	Barclays Bank PLC		6/01/22		4.85		93,000	EUR	93,000		(503)		(961)		458
										$	(11,511)	$	(17,992)	$	6,481

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

Forward contracts
Counterparty	Settlement Date	Currency Purchased		Currency Sold		Unrealized Appreciation (Depreciation)
Bank of America N.A.	1/18/22	PLN	1,425,599	USD	359,772	$	(6,261)
Bank of America N.A.	1/18/22	CZK	155,241	USD	7,000		96
Bank of America N.A.	1/18/22	USD	341,125	PLN	1,425,598		(12,387)
Bank of America N.A.	1/25/22	JPY	28,957,237	USD	255,734		(3,961)
Bank of America N.A.	1/25/22	USD	102,920	AUD	142,213		(553)
Bank of America N.A.	2/15/22	PLN	88,959	USD	22,345		(332)
Bank of America N.A.	2/15/22	USD	147,500	EUR	127,723		1,965
Bank of America N.A.	2/15/22	USD	7,228	PLN	30,123		(226)
Bank of America N.A.	3/16/22	HUF	33,101,044	USD	106,000		(4,717)
Barclays Bank PLC	1/18/22	USD	263,305	CHF	243,506		(4,027)
BNP Paribas SA	1/18/22	ZAR	2,322,047	USD	154,292		(8,857)
BNP Paribas SA	1/25/22	USD	530,106	CNH	3,413,875		(6,225)
BNP Paribas SA	2/15/22	USD	262,599	CHF	239,438		(455)
Canadian Imperial Bank of Commerce	1/25/22	AUD	142,213	USD	106,656		(3,183)
Citibank N.A.	1/11/22	CLP	214,180,760	USD	259,913		(8,725)
Citibank N.A.	1/11/22	COP	400,356,700	USD	100,949		(2,561)
Citibank N.A.	1/11/22	USD	106,000	COP	400,356,700		7,612
Citibank N.A.	1/14/22	USD	13,250	ARS	1,413,775		(312)
Citibank N.A.	1/18/22	USD	359,000	RUB	26,816,582		2,492
Citibank N.A.	1/25/22	THB	8,041,916	USD	238,984		1,723
Citibank N.A.	1/25/22	USD	240,492	THB	8,041,916		(215)
Citibank N.A.	2/08/22	COP	139,133,750	USD	35,000		(923)
Citibank N.A.	2/08/22	USD	157,751	COP	598,428,545		11,183
Citibank N.A.	2/15/22	RUB	11,400,466	USD	157,888		(7,248)
Citibank N.A.	2/15/22	USD	150,000	CZK	3,395,060		(4,773)
Citibank N.A.	2/22/22	THB	5,638,001	USD	167,509		1,225
Citibank N.A.	2/22/22	USD	281,981	THB	9,219,368		6,063
Citibank N.A.	3/15/22	EGP	2,493,631	USD	156,000		51
Citibank N.A.	5/10/22	USD	53,000	TND	161,279		(1,416)
Citibank N.A.	6/15/22	EGP	1,282,411	USD	78,000		323
Citibank N.A.	9/15/22	EGP	1,321,966	USD	78,000		436
Citibank N.A.	12/15/22	USD	156,000	EGP	2,746,682		(2,279)
Goldman Sachs International	1/18/22	USD	72,855	TRY	951,269		1,823
Goldman Sachs International	1/25/22	USD	253,688	JPY	28,957,237		1,915
Goldman Sachs International	2/15/22	CZK	5,714,424	USD	261,150		(643)
HSBC Bank USA	1/11/22	PEN	1,053,142	USD	264,000		(217)
HSBC Bank USA	1/11/22	USD	52,000	PEN	209,014		(352)
HSBC Bank USA	1/18/22	USD	6,880	CZK	155,241		(216)
HSBC Bank USA	2/22/22	KRW	125,080,000	USD	106,000		(892)
HSBC Bank USA	3/16/22	HUF	9,731,169	USD	30,000		(225)
JP Morgan Chase Bank N.A.	1/18/22	RUB	27,067,434	USD	369,315		(9,472)
JP Morgan Chase Bank N.A.	1/18/22	EUR	24,775	USD	28,231		(17)
JP Morgan Chase Bank N.A.	1/18/22	USD	256,976	RON	1,106,409		2,710
JP Morgan Chase Bank N.A.	1/18/22	USD	29,000	EUR	24,775		786
JP Morgan Chase Bank N.A.	2/08/22	BRL	2,350,653	USD	403,338		15,198
JP Morgan Chase Bank N.A.	2/08/22	USD	312,000	BRL	1,759,545		(1,289)
JP Morgan Chase Bank N.A.	2/15/22	UAH	1,482,052	USD	55,404		(2,106)
JP Morgan Chase Bank N.A.	2/15/22	EUR	228,214	USD	260,000		40
JP Morgan Chase Bank N.A.	2/15/22	USD	120,351	EUR	103,623		2,278
JP Morgan Chase Bank N.A.	2/15/22	USD	53,209	UAH	1,482,052		(89)
Morgan Stanley & Co. LLC	1/18/22	TRY	951,269	USD	99,600		(28,568)
Morgan Stanley & Co. LLC	1/18/22	USD	159,097	ZAR	2,322,047		13,663
Morgan Stanley & Co. LLC	2/08/22	USD	158,875	CAD	196,947		3,187
Standard Chartered Bank	1/25/22	PHP	5,366,250	USD	104,861		278
						$	(48,675)

MassMutual Diversified Bond Fund —  Portfolio of Investments (Continued)

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Long
U.S. Treasury Long Bond	3/22/22		44	$	7,066,271	$	(7,021)
U.S. Treasury Ultra Bond	3/22/22		56		10,888,374		150,626
U.S. Treasury Note 2 Year	3/31/22		117		25,569,503		(43,394)
U.S. Treasury Note 5 Year	3/31/22		27		3,265,545		822
90 Day Eurodollar	12/16/24		1		245,453		272
						$	101,305
Short
U.S. Treasury Ultra 10 Year	3/22/22		51	$	(7,435,547)	$	(32,766)
90 Day Eurodollar	12/16/24		1		(245,472)		(253)
						$	(33,019)

^## Exercise Rate.

Currency Legend

ARS Argentinean Peso

AUD Australian Dollar

BRL Brazilian Real

CAD Canadian Dollar

CHF Swiss Franc

CLP Chilean Peso

CNH Offshore Chinese Yuan

COP Colombian Peso

CZK Czech Koruna

EGP Egyptian Pound

EUR Euro

HUF Hungarian Forint

JPY Japanese Yen

KRW South Korean Won

PEN Peruvian New Sol

PHP Philippine Peso

PLN Polish Zloty

RON New Romanian Leu

RUB Russian Ruble

THB Thai Baht

TND Tunisian Dinar

TRY New Turkish Lira

UAH Ukrainian Hryvnia

USD U.S. Dollar

ZAR South African Rand

MassMutual High Yield Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 0.7%
COMMON STOCK — 0.7%
Consumer, Cyclical — 0.1%
Leisure Time — 0.1%
Carlson Travel, Inc. (a) (b)		16,570	$	542,668
Energy — 0.6%
Oil & Gas — 0.6%
Fieldwood Energy LLC (a) (b) (c) (d)		48,768		—
Fieldwood Energy LLC (a) (b) (c) (d)		11,966		—
Tourmaline Oil Corp.		84,668		2,733,579
				2,733,579
TOTAL COMMON STOCK (Cost $2,898,040)				3,276,247
TOTAL EQUITIES (Cost $2,898,040)				3,276,247
	Principal Amount
BONDS & NOTES — 93.7%
BANK LOANS — 7.7%
Advertising — 0.3%
Clear Channel Outdoor Holdings, Inc., Term Loan B, 1 mo. USD LIBOR + 3.500%
3.629% VRN 8/21/26	$	1,481,714		1,460,111
Airlines — 0.1%
AAdvantage Loyalty IP Ltd., 2021 Term Loan, 1 mo. USD LIBOR + 4.750%
5.500% VRN 4/20/28		278,582		288,182
United Airlines, Inc., 2021 Term Loan B, 1 mo. USD LIBOR + 3.750%
4.500% VRN 4/21/28		173,453		173,689
				461,871
Building Materials — 0.6%
Vector WP Holdco, Inc., Term Loan B, 1 mo. USD LIBOR + 5.000%
5.750% VRN 10/12/28		3,493,421		3,458,487
Commercial Services — 1.0%
Rent-A-Center, Inc. ., 2021 First Lien Term Loan B, 1 mo. USD LIBOR + 3.250%
3.750% FRN 2/17/28		39,646		39,523
Spin Holdco, Inc., 2021 Term Loan, 1 mo. USD LIBOR + 4.000%
4.750% VRN 3/04/28		346,770		347,589

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Syniverse Holdings, Inc., 2018 1st Lien Term Loan, 3 mo. USD LIBOR + 5.000%
6.000% VRN 3/09/23	$	5,591,958	$	5,552,366
				5,939,478
Computers — 1.2%
Magenta Buyer LLC, 2021 USD 1st Lien Term Loan, 1 mo. USD LIBOR + 5.000%
5.750% VRN 7/27/28		4,671,388		4,655,318
SonicWall US Holdings, Inc. ., 2nd Lien Term Loan, 3 mo. USD LIBOR + 7.500%
7.628% FRN 5/18/26		51,897		50,697
Vision Solutions, Inc., 2021 2nd Lien Term Loan,
0.000% - —% 4/23/29 (e)		2,290,483		2,283,337
				6,989,352
Cosmetics & Personal Care — 0.1%
Hoffmaster Group, Inc., 2018 1st Lien Term Loan, 1 mo. USD LIBOR + 4.000%
5.000% VRN 11/21/23		817,546		758,568
Health Care – Services — 0.5%
MedAssets Software Intermediate Holdings, Inc. ., 2021 Term Loan, 1 mo. USD LIBOR + 4.000%
4.500% VRN 11/17/28		964,930		964,023
Radiology Partners, Inc., 2018 1st Lien Term Loan B, 1 mo. USD LIBOR + 4.250%
4.354% - 4.360% VRN 7/09/25		2,033,385		2,001,196
				2,965,219
Lodging — 0.3%
Jack Ohio Finance LLC, Term Loan, 1 mo. USD LIBOR + 4.750%
4.854% VRN 10/04/28		1,626,794		1,621,718
Machinery – Diversified — 0.0%
Pro Mach Group, Inc.
2021 Delayed Draw Term Loan, 1 mo. USD LIBOR + 4.000%
4.000% VRN 8/31/28 (f)		30,911		30,989
2021 Term Loan B, 1 mo. USD LIBOR + 4.000%
5.000% VRN 8/31/28		245,746		246,360
				277,349
Media — 0.4%
MSG National Properties LLC, Term Loan, 3 mo. USD LIBOR + 6.250%
7.000% VRN 11/12/25		2,320,687		2,367,100
Packaging & Containers — 0.4%
Florida Food Products, LLC, Term Loan, 3 mo. USD LIBOR + 5.000%
5.750% VRN 10/18/28		2,210,921		2,172,230
Software — 2.8%
Finastra USA, Inc.
USD 1st Lien Term Loan, 3 mo. USD LIBOR + 3.500%
4.500% VRN 6/13/24		3,069,414		3,053,576
USD 2nd Lien Term Loan, 3 mo. USD LIBOR + 7.250%
8.250% VRN 6/13/25		6,525,000		6,506,469

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Ivanti Software, Inc., 2021 Term Loan B, 1 mo. USD LIBOR + 4.250%
5.000% VRN 12/01/27	$	319,251	$	319,350
Loyalty Ventures, Inc., Term Loan B, 1 mo. USD LIBOR + 4.500%
5.000% VRN 11/03/27		2,602,352		2,584,994
Renaissance Holding Corp., 2018 2nd Lien Term Loan, 1 mo. USD LIBOR + 7.000%
7.104% VRN 5/29/26		3,812,278		3,817,654
				16,282,043
TOTAL BANK LOANS (Cost $43,975,159)				44,753,526
CORPORATE DEBT — 86.0%
Advertising — 2.5%
Clear Channel Outdoor Holdings, Inc.
7.750% 4/15/28 (g)		2,004,000		2,144,280
7.500% 6/01/29 (g)		3,376,000		3,603,880
Midas OpCo Holdings LLC
5.625% 8/15/29 (g)		1,514,000		1,549,957
Outfront Media Capital LLC / Outfront Media Capital Corp.
4.250% 1/15/29 (g)		1,323,000		1,325,408
Summer BC Bidco B LLC
5.500% 10/31/26 (g)		515,000		527,216
Terrier Media Buyer, Inc.
8.875% 12/15/27 (g)		4,697,000		5,076,377
				14,227,118
Aerospace & Defense — 1.4%
TransDigm, Inc.
8.000% 12/15/25 (g)		221,000		233,155
Triumph Group, Inc.
6.250% 9/15/24 (g)		1,563,000		1,572,769
7.750% 8/15/25		6,110,000		6,064,175
				7,870,099
Airlines — 2.2%
American Airlines, Inc.
11.750% 7/15/25 (g)		2,318,000		2,859,832
American Airlines, Inc. /AAdvantage Loyalty IP Ltd.
5.500% 4/20/26 (g)		3,925,000		4,081,509
5.750% 4/20/29 (g)		1,488,000		1,588,574
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% 10/20/25 (g)		1,085,000		1,140,693
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.
6.500% 6/20/27 (g)		1,287,000		1,373,873
United Airlines, Inc.
4.375% 4/15/26 (g)		758,000		790,393
4.625% 4/15/29 (g)		795,000		819,844
				12,654,718
Auto Manufacturers — 1.1%
Ford Motor Credit Co. LLC
4.000% 11/13/30		1,000,000		1,075,800
4.125% 8/17/27		1,560,000		1,683,833
4.389% 1/08/26		712,000		767,180

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.113% 5/03/29	$	322,000	$	365,873
JB Poindexter & Co., Inc.
7.125% 4/15/26 (g)		2,448,000		2,561,391
				6,454,077
Auto Parts & Equipment — 0.3%
Adient Global Holdings Ltd.
4.875% 8/15/26 (g)		829,000		845,580
Clarios Global LP
6.750% 5/15/25 (g)		482,000		504,895
Clarios Global LP/Clarios US Finance Co.
8.500% 5/15/27 (g)		236,000		250,160
				1,600,635
Beverages — 0.0%
Triton Water Holdings, Inc.
6.250% 4/01/29 (g)		164,000		157,292
Biotechnology — 0.6%
Emergent BioSolutions, Inc.
3.875% 8/15/28 (g) (h)		2,529,000		2,427,258
Grifols Escrow Issuer SA
4.750% 10/15/28 (g)		861,000		878,410
				3,305,668
Building Materials — 1.0%
New Enterprise Stone & Lime Co., Inc.
5.250% 7/15/28 (g)		1,706,000		1,729,884
9.750% 7/15/28 (g)		3,764,000		4,027,480
				5,757,364
Chemicals — 1.9%
Consolidated Energy Finance SA
5.625% 10/15/28 (g)		4,296,000		4,199,340
Kraton Polymers LLC / Kraton Polymers Capital Corp.
4.250% 12/15/25 (g)		31,000		32,089
LSF11 A5 HoldCo LLC
6.625% 10/15/29 (g)		1,603,000		1,578,955
Olympus Water US Holding Corp.
4.250% 10/01/28 (g)		2,503,000		2,488,933
6.250% 10/01/29 (g)		1,772,000		1,727,700
Unifrax Escrow Issuer Corp.
7.500% 9/30/29 (g)		736,000		743,360
				10,770,377
Coal — 1.3%
Coronado Finance Pty Ltd.
10.750% 5/15/26 (g)		2,339,000		2,521,255
PIC AU Holdings LLC / PIC AU Holdings Corp.
10.000% 12/31/24 (g)		4,073,000		4,174,825
Warrior Met Coal, Inc.
7.875% 12/01/28 (g)		940,000		963,500
				7,659,580

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Commercial Services — 2.9%
Alta Equipment Group, Inc.
5.625% 4/15/26 (g)	$	2,194,000	$	2,256,551
APi Escrow Corp.
4.750% 10/15/29 (g)		1,363,000		1,390,260
APX Group, Inc.
5.750% 7/15/29 (g)		2,859,000		2,816,115
Cimpress PLC
7.000% 6/15/26 (g)		427,000		443,546
The Hertz Corp.
5.000% 12/01/29 (g)		1,102,000		1,102,942
MoneyGram International, Inc.
5.375% 8/01/26 (g)		1,278,000		1,297,170
PECF USS Intermediate Holding III Corp.
8.000% 11/15/29 (g)		388,000		401,774
Prime Security Services Borrower LLC / Prime Finance, Inc.
6.250% 1/15/28 (g)		2,865,000		2,986,762
PROG Holdings, Inc.
6.000% 11/15/29 (g)		2,360,000		2,428,346
Rent-A-Center, Inc. /TX
6.375% 2/15/29 (g)		499,000		520,208
Sabre GLBL, Inc.
9.250% 4/15/25 (g)		356,000		402,280
WASH Multifamily Acquisition, Inc.
5.750% 4/15/26 (g)		786,000		826,047
				16,872,001
Computers — 1.0%
CA Magnum Holdings
5.375% 10/31/26 (g)		2,068,000		2,137,795
Diebold Nixdorf, Inc.
9.375% 7/15/25 (g)		3,326,000		3,581,237
				5,719,032
Cosmetics & Personal Care — 0.5%
Coty, Inc. /HFC Prestige Products, Inc. /HFC Prestige International US LLC
4.750% 1/15/29 (g)		3,086,000		3,136,147
Distribution & Wholesale — 0.0%
Univar Solutions USA, Inc.
5.125% 12/01/27 (g)		177,000		184,694
Diversified Financial Services — 4.4%
Alliance Data Systems Corp.
7.000% 1/15/26 (g)		78,000		81,900
Aretec Escrow Issuer, Inc.
7.500% 4/01/29 (g)		1,892,000		1,936,197
Coinbase Global, Inc.
3.375% 10/01/28 (g)		1,255,000		1,171,856
3.625% 10/01/31 (g)		1,018,000		936,560
Global Aircraft Leasing Co. Ltd.
6.500% 9/15/24 (g)		9,179,749		8,858,458
Jefferson Capital Holdings LLC
6.000% 8/15/26 (g)		1,648,000		1,668,600
Midcap Financial Issuer Trust
5.625% 1/15/30 (g)		723,000		724,883
6.500% 5/01/28 (g)		2,875,000		2,997,188

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
OneMain Finance Corp.
4.000% 9/15/30	$	1,207,000	$	1,186,940
5.375% 11/15/29		2,695,000		2,930,260
PRA Group, Inc.
5.000% 10/01/29 (g)		2,970,000		2,977,425
				25,470,267
Electric — 1.1%
PG&E Corp.
5.000% 7/01/28		3,644,000		3,832,832
5.250% 7/01/30		583,000		611,392
Pike Corp.
5.500% 9/01/28 (g)		2,213,000		2,218,046
				6,662,270
Electronics — 0.7%
Atkore, Inc.
4.250% 6/01/31 (g)		2,205,000		2,260,125
Ii Vi, Inc. Co.
5.000% 12/15/29 (g)		1,680,000		1,715,011
				3,975,136
Engineering & Construction — 0.3%
Arcosa, Inc. Co.
4.375% 4/15/29 (g)		709,000		718,749
Railworks Holdings LP / Railworks Rally, Inc.
8.250% 11/15/28 (g)		879,000		905,370
				1,624,119
Entertainment — 1.8%
Banijay Entertainment SASU
5.375% 3/01/25 (g)		1,253,000		1,278,060
Caesars Entertainment, Inc.
4.625% 10/15/29 (g)		594,000		594,000
6.250% 7/01/25 (g)		1,972,000		2,069,861
8.125% 7/01/27 (g)		2,188,000		2,421,274
Caesars Resort Collection LLC/CRC Finco, Inc.
5.750% 7/01/25 (g)		125,000		130,539
CCM Merger, Inc.
6.375% 5/01/26 (g)		1,164,000		1,212,015
Everi Holdings, Inc.
5.000% 7/15/29 (g)		31,000		31,310
Live Nation Entertainment, Inc.
4.750% 10/15/27 (g)		2,021,000		2,076,577
Scientific Games International, Inc.
7.250% 11/15/29 (g)		708,000		789,420
				10,603,056
Food — 3.2%
JBS Finance Luxembourg Sarl
3.625% 1/15/32 (g)		2,474,000		2,483,302
JBS USA LUX SA/JBS USA Finance, Inc.
6.750% 2/15/28 (g)		3,066,000		3,307,478
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
3.750% 12/01/31 (g)		400,000		406,000

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.500% 1/15/30 (g)	$	3,870,000	$	4,208,625
6.500% 4/15/29 (g)		5,137,000		5,650,752
Simmons Foods, Inc. /Simmons Prepared Foods, Inc. /Simmons Pet Food, Inc. /Simmons Feed
4.625% 3/01/29 (g)		1,142,000		1,124,870
US Foods, Inc.
4.750% 2/15/29 (g)		1,147,000		1,165,639
				18,346,666
Forest Products & Paper — 0.6%
Clearwater Paper Corp.
4.750% 8/15/28 (g)		1,232,000		1,253,560
Sylvamo Corp.
7.000% 9/01/29 (g)		2,127,000		2,222,204
				3,475,764
Health Care – Products — 0.3%
Mozart Debt Merger Sub, Inc.
5.250% 10/01/29 (g)		1,754,000		1,777,925
Health Care – Services — 2.8%
Centene Corp.
4.625% 12/15/29		209,000		225,398
CHS/Community Health Systems, Inc.
4.750% 2/15/31 (g)		758,000		764,633
5.625% 3/15/27 (g)		556,000		588,431
6.000% 1/15/29 (g)		274,000		292,153
6.125% 4/01/30 (g)		1,361,000		1,346,465
6.875% 4/15/29 (g)		472,000		480,850
ModivCare Escrow Issuer, Inc.
5.000% 10/01/29 (g)		969,000		989,601
ModivCare, Inc.
5.875% 11/15/25 (g)		142,000		149,100
Molina Healthcare, Inc.
4.375% 6/15/28 (g)		1,025,000		1,055,750
Radiology Partners, Inc.
9.250% 2/01/28 (g)		4,598,000		4,828,452
RP Escrow Issuer LLC
5.250% 12/15/25 (g)		2,376,000		2,396,790
Tenet Healthcare Corp.
4.375% 1/15/30 (g)		1,178,000		1,192,937
4.875% 1/01/26 (g)		125,000		128,391
6.125% 10/01/28 (g)		1,550,000		1,637,125
				16,076,076
Home Builders — 1.4%
Ashton Woods USA LLC / Ashton Woods Finance Co.
4.625% 4/01/30 (g)		1,211,000		1,189,807
Empire Communities Corp.
7.000% 12/15/25 (g)		880,000		910,800
M/I Homes, Inc.
4.950% 2/01/28		1,544,000		1,605,760
Mattamy Group Corp.
4.625% 3/01/30 (g)		4,544,000		4,627,837

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
5.250% 12/15/27 (g)	$	25,000	$	26,294
				8,360,498
Home Furnishing — 0.0%
Tempur Sealy International, Inc.
3.875% 10/15/31 (g)		99,000		99,187
Insurance — 0.5%
AmWINS Group, Inc.
4.875% 6/30/29 (g)		1,041,000		1,051,410
Highlands Holdings Bond Issuer Ltd. / Highlands Holdings Bond Co-Issuer, Inc.
7.625% 10/15/25 (g)		1,793,066		1,900,650
				2,952,060
Internet — 2.2%
Acuris Finance Us, Inc. / Acuris Finance SARL
5.000% 5/01/28 (g)		1,794,000		1,785,030
Getty Images, Inc.
9.750% 3/01/27 (g)		2,165,000		2,293,276
ION Trading Technologies Sarl
5.750% 5/15/28 (g)		1,728,000		1,779,840
Millennium Escrow Corp.
6.625% 8/01/26 (g)		1,956,000		1,960,890
Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc.
4.750% 4/30/27 (g)		908,000		898,920
6.000% 2/15/28 (g) (h)		1,221,000		1,196,580
10.750% 6/01/28 (g)		2,410,000		2,626,900
				12,541,436
Investment Companies — 0.7%
Icahn Enterprises LP/ Icahn Enterprises Finance Corp.
6.250% 5/15/26		1,500,000		1,561,875
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
5.250% 5/15/27		2,581,000		2,651,977
				4,213,852
Leisure Time — 2.4%
Carnival Corp.
7.625% 3/01/26 (g)		651,000		682,411
5.750% 3/01/27 (g)		2,737,000		2,737,000
6.000% 5/01/29 (g)		2,557,000		2,544,215
CWT Travel Group, Inc.
8.500% 11/19/26 (g)		1,728,252		1,760,017
NCL Corp. Ltd.
5.875% 3/15/26 (g)		3,309,000		3,294,341
NCL Finance Ltd.
6.125% 3/15/28 (g)		620,000		610,700
Royal Caribbean Cruises Ltd.
5.500% 8/31/26 (g)		2,384,000		2,424,051
				14,052,735

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Lodging — 0.7%
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc
4.875% 7/01/31 (g)	$	1,266,000	$	1,266,000
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp.
5.875% 5/15/25 (g)		1,394,000		1,387,030
Travel & Leisure Co.
6.625% 7/31/26 (g)		170,000		188,503
Wyndham Hotels & Resorts, Inc.
4.375% 8/15/28 (g)		968,000		997,040
				3,838,573
Machinery – Diversified — 0.5%
Clark Equipment Co.
5.875% 6/01/25 (g)		1,412,000		1,466,715
OT Merger Corp.
7.875% 10/15/29 (g)		1,720,000		1,692,050
Welbilt, Inc.
9.500% 2/15/24		54,000		54,540
				3,213,305
Media — 7.6%
Altice Financing SA
5.000% 1/15/28 (g)		743,000		725,086
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250% 1/15/34 (g)		3,376,000		3,321,402
4.500% 5/01/32		215,000		221,181
Clear Channel Worldwide Holdings, Inc.
5.125% 8/15/27 (g)		328,000		339,401
CSC Holdings LLC
4.625% 12/01/30 (g)		1,843,000		1,743,939
5.750% 1/15/30 (g)		670,000		667,487
DIRECTV Financing LLC / DIRECTV Financing Co-Obligor, Inc.
5.875% 8/15/27 (g)		3,511,000		3,592,912
DISH DBS Corp.
5.750% 12/01/28 (g)		504,000		509,040
DISH DBS Corp.
5.250% 12/01/26 (g)		392,000		398,037
5.875% 11/15/24		981,000		1,006,840
7.375% 7/01/28		918,000		929,475
DISH Network Corp.
3.375% 8/15/26		3,231,000		3,058,313
Gray Escrow II, Inc.
5.375% 11/15/31 (g)		1,881,000		1,935,079
iHeartCommunications, Inc.
8.375% 5/01/27		2,871,000		3,027,010
LCPR Senior Secured Financing DAC
5.125% 7/15/29 (g)		3,185,000		3,200,925
6.750% 10/15/27 (g)		2,216,000		2,326,800
Midcontinent Communications / Midcontinent Finance Corp.
5.375% 8/15/27 (g)		1,079,000		1,111,370
Nexstar Media, Inc.
4.750% 11/01/28 (g)		646,000		658,112
Radiate Holdco LLC / Radiate Finance, Inc.
6.500% 9/15/28 (g)		3,402,000		3,417,428

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Sinclair Television Group Inc, SERIES 144A, 144A,
5.125% 2/15/27 (g)	$	1,109,000	$	1,075,730
Sirius XM Radio, Inc.
3.125% 9/01/26 (g)		956,000		956,277
3.875% 9/01/31 (g)		2,314,000		2,268,761
Townsquare Media, Inc.
6.875% 2/01/26 (g)		1,361,000		1,444,361
Virgin Media Secured Finance PLC
4.500% 8/15/30 (g)		250,000		251,578
5.500% 5/15/29 (g)		4,137,000		4,354,192
Ziggo BV
4.875% 1/15/30 (g)		1,284,000		1,316,870
5.500% 1/15/27 (g)		51,000		52,403
				43,910,009
Metal Fabricate & Hardware — 0.1%
Park-Ohio Industries, Inc.
6.625% 4/15/27		672,000		652,176
Mining — 2.2%
Compass Minerals International, Inc.
4.875% 7/15/24 (g)		1,164,000		1,190,190
6.750% 12/01/27 (g)		1,018,000		1,077,889
First Quantum Minerals Ltd.
6.500% 3/01/24 (g)		2,110,000		2,136,375
6.875% 3/01/26 (g)		1,420,000		1,475,025
7.500% 4/01/25 (g)		2,954,000		3,038,780
Hecla Mining Co.
7.250% 2/15/28		2,871,000		3,075,558
Novelis Corp.
3.250% 11/15/26 (g)		304,000		306,660
3.875% 8/15/31 (g)		313,000		311,044
				12,611,521
Miscellaneous - Manufacturing — 0.2%
Gates Global LLC / Gates Corp.
6.250% 1/15/26 (g)		1,298,000		1,340,185
Oil & Gas — 9.2%
Apache Corp.
4.750% 4/15/43		816,000		897,600
5.100% 9/01/40		607,000		685,910
5.350% 7/01/49		910,000		1,039,675
Chesapeake Energy Corp.
5.500% 2/01/26 (g)		633,000		666,233
5.875% 2/01/29 (g)		1,172,000		1,253,747
Comstock Resources, Inc.
5.875% 1/15/30 (g)		733,000		751,325
6.750% 3/01/29 (g)		1,512,000		1,637,904
CVR Energy, Inc.
5.250% 2/15/25 (g)		1,318,000		1,285,050
5.750% 2/15/28 (g) (h)		4,261,000		4,145,953
Hilcorp Energy I LP / Hilcorp Finance Co.
5.750% 2/01/29 (g)		513,000		528,759
6.000% 2/01/31 (g)		1,607,000		1,655,210
6.250% 11/01/28 (g)		2,052,000		2,157,165

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
MEG Energy Corp.
7.125% 2/01/27 (g)	$	2,992,000	$	3,186,241
Murphy Oil Corp.
6.375% 7/15/28		1,190,000		1,264,768
Nabors Industries Ltd.
7.250% 1/15/26 (g)		1,925,000		1,780,625
7.500% 1/15/28 (g)		537,000		485,985
Nabors Industries, Inc.
7.375% 5/15/27 (g)		2,040,000		2,111,012
Neptune Energy Bondco PLC
6.625% 5/15/25 (g)		3,165,000		3,232,256
Occidental Petroleum Corp.
4.200% 3/15/48		145,000		145,000
4.400% 4/15/46		916,000		938,900
4.400% 8/15/49		359,000		363,488
4.500% 7/15/44		372,000		383,160
5.875% 9/01/25		3,187,000		3,513,667
6.125% 1/01/31		1,607,000		1,958,290
6.200% 3/15/40		2,664,000		3,276,720
6.375% 9/01/28		2,015,000		2,392,490
6.450% 9/15/36		1,040,000		1,326,000
6.600% 3/15/46		1,639,000		2,126,603
6.950% 7/01/24		405,000		449,129
Parkland Corp.
4.625% 5/01/30 (g)		795,000		790,031
5.875% 7/15/27 (g)		125,000		131,875
Range Resources Corp. Co.
8.250% 1/15/29		846,000		943,290
Rockcliff Energy II LLC
5.500% 10/15/29 (g)		956,000		984,680
Southwestern Energy Co.
4.750% 2/01/32		840,000		884,285
5.375% 3/15/30		366,000		392,162
Transocean Guardian Ltd.
5.875% 1/15/24 (g)		209,710		198,700
Transocean Poseidon Ltd.
6.875% 2/01/27 (g)		196,000		189,385
Transocean, Inc.
7.250% 11/01/25 (g)		1,205,000		927,850
7.500% 1/15/26 (g)		1,662,000		1,238,190
8.000% 2/01/27 (g)		1,240,000		892,800
				53,212,113
Oil & Gas Services — 0.6%
Weatherford International Ltd.
6.500% 9/15/28 (g)		964,000		1,020,004
8.625% 4/30/30 (g)		2,354,000		2,443,805
				3,463,809
Packaging & Containers — 1.1%
Mauser Packaging Solutions Holding Co.
7.250% 4/15/25 (g)		3,513,000		3,521,905
Trident TPI Holdings, Inc.
9.250% 8/01/24 (g)		2,752,000		2,875,840
				6,397,745

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Pharmaceuticals — 3.7%
AdaptHealth LLC
4.625% 8/01/29 (g)	$	94,000	$	94,000
5.125% 3/01/30 (g)		3,300,000		3,357,750
Bausch Health Americas, Inc.
8.500% 1/31/27 (g)		175,000		183,750
9.250% 4/01/26 (g)		1,611,000		1,701,619
Bausch Health Cos., Inc.
4.875% 6/01/28 (g)		1,873,000		1,915,142
5.000% 1/30/28 (g)		569,000		523,480
5.000% 2/15/29 (g)		1,882,000		1,660,865
5.250% 1/30/30 (g)		2,328,000		2,048,640
5.250% 2/15/31 (g)		3,803,000		3,341,886
6.125% 4/15/25 (g)		203,000		207,055
6.250% 2/15/29 (g)		1,515,000		1,439,614
9.000% 12/15/25 (g)		870,000		916,267
Organon & Co. / Organon Foreign Debt Co-Issuer BV
5.125% 4/30/31 (g)		1,230,000		1,284,956
Par Pharmaceutical, Inc.
7.500% 4/01/27 (g)		2,947,000		3,011,628
				21,686,652
Pipelines — 8.0%
Antero Midstream Partners LP / Antero Midstream Finance Corp.
5.375% 6/15/29 (g)		5,376,000		5,617,920
Buckeye Partners LP
5.850% 11/15/43		303,000		297,319
CQP Holdco LP / BIP-V Chinook Holdco LLC
5.500% 6/15/31 (g)		2,124,000		2,216,925
DCP Midstream Operating LP
5.625% 7/15/27		924,000		1,044,120
EnLink Midstream LLC
5.375% 6/01/29		786,000		803,685
5.625% 1/15/28 (g)		449,000		466,960
EnLink Midstream Partners LP
4.150% 6/01/25		67,000		69,513
4.850% 7/15/26		277,000		291,543
5.050% 4/01/45		160,000		154,400
5.450% 6/01/47		706,000		712,280
5.600% 4/01/44		3,122,000		3,148,771
EQM Midstream Partners LP
4.500% 1/15/29 (g)		1,111,000		1,155,440
4.750% 1/15/31 (g)		1,001,000		1,058,557
6.000% 7/01/25 (g)		922,000		1,002,675
6.500% 7/01/27 (g)		763,000		854,560
Genesis Energy LP/Genesis Energy Finance Corp.
5.625% 6/15/24		666,000		659,340
6.250% 5/15/26		290,000		282,750
6.500% 10/01/25		3,856,000		3,807,800
8.000% 1/15/27		1,908,000		1,966,308
Harvest Midstream I LP
7.500% 9/01/28 (g)		2,775,000		2,969,250
ITT Holdings LLC
6.500% 8/01/29 (g)		4,327,000		4,283,730
NGL Energy Operating LLC / NGL Energy Finance Corp.
7.500% 2/01/26 (g)		3,562,000		3,673,491

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
7.500% 10/01/25 (g)	$	1,400,000	$	1,515,500
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.875% 2/01/31		1,581,000		1,716,887
5.000% 1/15/28		139,000		146,464
5.500% 3/01/30		128,000		139,840
6.875% 1/15/29		283,000		316,615
Venture Global Calcasieu Pass LLC
3.875% 8/15/29 (g)		869,000		901,587
4.125% 8/15/31 (g)		994,000		1,053,640
Western Midstream Operating LP
5.300% STEP 2/01/30		674,000		742,087
5.300% 3/01/48		1,864,000		2,246,120
5.450% 4/01/44		929,000		1,110,155
				46,426,232
Real Estate — 0.5%
Realogy Group LLC / Realogy Co-Issuer Corp.
5.750% 1/15/29 (g)		2,591,000		2,655,775
Real Estate Investment Trusts (REITS) — 2.4%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.
4.750% 6/15/29 (g)		2,804,000		2,874,100
RHP Hotel Properties LP/RHP Finance Corp.
4.750% 10/15/27		1,660,000		1,693,200
RLJ Lodging Trust LP
3.750% 7/01/26 (g)		708,000		711,894
4.000% 9/15/29 (g)		1,965,000		1,944,014
Service Properties Trust
3.950% 1/15/28		359,000		328,621
4.375% 2/15/30		568,000		522,560
4.950% 2/15/27		284,000		275,480
5.500% 12/15/27		949,000		974,563
7.500% 9/15/25		2,261,000		2,450,629
Uniti Group LP / Uniti Fiber Holdings, Inc. / CSL Capital LLC
7.875% 2/15/25 (g)		166,000		173,263
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC
4.750% 4/15/28 (g)		1,162,000		1,152,390
6.500% 2/15/29 (g)		560,000		558,076
				13,658,790
Retail — 4.4%
Asbury Automotive Group, Inc.
4.625% 11/15/29 (g)		610,000		621,438
At Home Group, Inc.
7.125% 7/15/29 (g)		1,778,000		1,746,885
Bath & Body Works, Inc.
6.875% 11/01/35		2,029,000		2,521,032
Bath & Body Works, Inc.
6.750% 7/01/36		658,000		812,630
BCPE Ulysses Intermediate, Inc.
7.750% 4/01/27 (g)		3,207,000		3,166,912
Macy's Retail Holdings LLC
5.875% 4/01/29 (g) (h)		261,000		278,291
Michaels Cos., Inc.
5.250% 5/01/28 (g)		555,000		554,306

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Michaels Cos., Inc.
7.875% 5/01/29 (g)	$	182,000	$	179,270
NMG Holding Co., Inc. / Neiman Marcus Group LLC
7.125% 4/01/26 (g)		3,772,000		4,003,488
Nordstrom, Inc.
4.000% 3/15/27		442,000		444,210
4.375% 4/01/30		443,000		446,892
5.000% 1/15/44 (h)		2,262,000		2,109,315
Park River Holdings, Inc.
5.625% 2/01/29 (g)		740,000		706,700
Sonic Automotive, Inc.
4.625% 11/15/29 (g)		807,000		814,666
4.875% 11/15/31 (g)		448,000		452,346
Staples, Inc.
7.500% 4/15/26 (g)		3,138,000		3,224,295
10.750% 4/15/27 (g)		2,722,000		2,565,485
Superior Plus LP / Superior General Partner, Inc.
4.500% 3/15/29 (g)		957,000		983,643
				25,631,804
Software — 1.1%
Avaya Holdings Corp., Convertible,
2.250% 6/15/23		1,776,000		1,871,016
Boxer Parent Co., Inc.
9.125% 3/01/26 (g)		158,000		164,715
Consensus Cloud Solutions, Inc.
6.000% 10/15/26 (g)		702,000		730,150
6.500% 10/15/28 (g)		511,000		533,995
Open Text Corp.
3.875% 12/01/29 (g)		13,000		13,163
Veritas US, Inc./Veritas Bermuda Ltd.
7.500% 9/01/25 (g)		2,925,000		3,027,375
				6,340,414
Telecommunications — 3.5%
Altice France SA
5.125% 7/15/29 (g)		2,356,000		2,298,160
CommScope Technologies Finance LLC
6.000% 6/15/25 (g)		896,000		896,000
Consolidated Communications, Inc.
6.500% 10/01/28 (g)		2,299,000		2,413,950
Frontier Communications Holdings LLC
5.000% 5/01/28 (g)		3,081,000		3,173,430
6.000% 1/15/30 (g)		819,000		823,095
6.750% 5/01/29 (g)		902,000		938,080
Hughes Satellite Systems Corp.
6.625% 8/01/26		3,461,000		3,873,724
Sprint Capital Corp.
6.875% 11/15/28		648,000		819,720
8.750% 3/15/32		2,271,000		3,406,500
Telecom Italia Capital
6.000% 9/30/34		236,000		249,608
Windstream Escrow LLC / Windstream Escrow Finance Corp.
7.750% 8/15/28 (g)		1,364,000		1,446,468
				20,338,735

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Transportation — 1.1%
Carriage Purchaser, Inc.
7.875% 10/15/29 (g)	$	1,435,000	$	1,377,600
First Student Bidco, Inc./First Transit Parent, Inc.
4.000% 7/31/29 (g)		2,525,000		2,454,300
Seaspan Corp.
5.500% 8/01/29 (g)		2,528,000		2,553,280
				6,385,180
TOTAL CORPORATE DEBT (Cost $481,765,037)				498,362,867
TOTAL BONDS & NOTES (Cost $525,740,196)				543,116,393
	Number of Shares
MUTUAL FUNDS — 1.3%
Diversified Financial Services — 1.3%
State Street Navigator Securities Lending Government Money Market Portfolio (i)		7,478,300		7,478,300
TOTAL MUTUAL FUNDS (Cost $7,478,300)				7,478,300
TOTAL LONG-TERM INVESTMENTS (Cost $536,116,536)				553,870,940
	Principal Amount
SHORT-TERM INVESTMENTS — 4.7%
Commercial Paper — 4.1%
Enbridge (us), Inc.
0.558% 3/23/22 (g)	$	5,000,000		4,995,661
Mohawk Industries, Inc.
0.375% 1/21/22 (g)		5,000,000		4,999,113
National Rural Utilities Cooperative Finance Corp.
0.203% 2/02/22		2,000,000		1,999,824
0.203% 2/03/22		4,000,000		3,999,630
Tampa Electric Co.
0.304% 1/06/22 (g)		2,000,000		1,999,973
0.355% 1/10/22 (g)		5,000,000		4,999,883
Wisconsin Electric Power Corp.
0.132% 1/04/22		1,000,000		999,988
				23,994,072
Repurchase Agreement — 0.6%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (j)		3,447,071		3,447,071
TOTAL SHORT-TERM INVESTMENTS (Cost $27,438,236)				27,441,143

MassMutual High Yield Fund —  Portfolio of Investments (Continued)

	Principal Amount	Value
TOTAL INVESTMENTS — 100.4% (Cost $563,554,772) (k)		$	581,312,083
Less Unfunded Loan Commitments — (0.0)%			(30,560)
NET INVESTMENTS — 100.4% (Cost $563,524,212)			581,281,523
Other Assets/(Liabilities) — (0.4)%			(2,046,686)
NET ASSETS — 100.0%		$	579,234,837

Abbreviation Legend

FRN Floating Rate Note

STEP Step Up Bond

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2021, these securities amounted to a value of $542,668 or 0.09% of net assets.

(b) Non-income producing security.

(c) Investment was valued using significant unobservable inputs.

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

(e) All or a portion of the security represents unsettled loan commitments at December 31, 2021 where the rate will be determined at time of settlement.

(f) Unfunded or partially unfunded loan commitments.

(g) 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, 2021, the aggregate market value of these securities amounted to $413,332,275 or 71.36% of net assets.

(h) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $7,327,856 or 1.27% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. (Note 2).

(i) Represents investment of security lending cash collateral. (Note 2).

(j) Maturity value of $3,447,071. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $3,516,096.

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

MassMutual Balanced Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 64.7%
COMMON STOCK — 64.7%
Basic Materials — 0.8%
Chemicals — 0.7%
Air Products & Chemicals, Inc.		444	$	135,092
Celanese Corp.		294		49,410
Dow, Inc.		1,207		68,461
DuPont de Nemours, Inc.		1,187		95,886
Ecolab, Inc.		324		76,007
International Flavors & Fragrances, Inc.		242		36,457
Linde PLC		1,473		510,291
LyondellBasell Industries NV Class A		1,304		120,268
PPG Industries, Inc.		484		83,461
				1,175,333
Forest Products & Paper — 0.0%
International Paper Co.		1,323		62,154
Mining — 0.1%
Newmont Corp.		1,588		98,488
				1,335,975
Communications — 4.9%
Advertising — 0.1%
Omnicom Group, Inc.		1,261		92,393
Internet — 0.5%
eBay, Inc.		4,390		291,935
MercadoLibre, Inc. (a)		48		64,723
NortonLifeLock, Inc.		2,079		54,012
Okta, Inc. (a)		77		17,261
Palo Alto Networks, Inc. (a)		198		110,239
Snap, Inc. Class A (a)		861		40,493
VeriSign, Inc. (a)		683		173,359
				752,022
Media — 0.9%
Comcast Corp. Class A		21,301		1,072,079
Liberty Global PLC Class C (a)		2,785		78,231
ViacomCBS, Inc. Class B		676		20,402
The Walt Disney Co. (a)		1,989		308,076
				1,478,788
Telecommunications — 3.4%
Arista Networks, Inc. (a)		913		131,244
AT&T, Inc.		53,952		1,327,219

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Cisco Systems, Inc.		29,271	$	1,854,903
Corning, Inc.		2,322		86,448
Lumen Technologies, Inc.		5,043		63,290
Motorola Solutions, Inc.		1,029		279,579
T-Mobile US, Inc. (a)		1,413		163,880
Verizon Communications, Inc.		29,980		1,557,761
				5,464,324
				7,787,527
Consumer, Cyclical — 8.1%
Airlines — 0.0%
Delta Air Lines, Inc. (a)		75		2,931
Apparel — 0.3%
NIKE, Inc. Class B		3,396		566,011
VF Corp.		444		32,510
				598,521
Auto Manufacturers — 1.2%
Cummins, Inc.		611		133,283
Ford Motor Co.		22,214		461,385
PACCAR, Inc.		546		48,190
Tesla, Inc. (a)		1,270		1,342,111
				1,984,969
Auto Parts & Equipment — 0.1%
Aptiv PLC (a)		510		84,124
Distribution & Wholesale — 0.1%
Fastenal Co.		1,199		76,808
W.W. Grainger, Inc.		135		69,962
				146,770
Leisure Time — 0.0%
Carnival Corp. (a)		358		7,203
Lodging — 0.1%
Hilton Worldwide Holdings, Inc. (a)		202		31,510
Las Vegas Sands Corp. (a)		354		13,325
Marriott International, Inc. Class A (a)		325		53,703
				98,538
Retail — 6.3%
AutoZone, Inc. (a)		376		788,243
Best Buy Co., Inc.		553		56,185
CarMax, Inc. (a)		203		26,437
Chipotle Mexican Grill, Inc. (a)		54		94,406
Costco Wholesale Corp.		2,922		1,658,819
Dollar General Corp.		1,515		357,282
Dollar Tree, Inc. (a)		595		83,609
Genuine Parts Co.		1,090		152,818
The Home Depot, Inc.		4,971		2,063,015
Lowe's Cos., Inc.		3,628		937,765
Lululemon Athletica, Inc. (a)		343		134,267

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
McDonald's Corp.		4,441	$	1,190,499
O'Reilly Automotive, Inc. (a)		830		586,171
Ross Stores, Inc.		790		90,281
Starbucks Corp.		3,865		452,089
Target Corp.		3,034		702,189
The TJX Cos., Inc.		1,927		146,298
Ulta Beauty, Inc. (a)		132		54,429
Walgreens Boots Alliance, Inc.		2,504		130,609
Yum! Brands, Inc.		1,918		266,333
				9,971,744
				12,894,800
Consumer, Non-cyclical — 14.4%
Agriculture — 0.1%
Archer-Daniels-Midland Co.		2,861		193,375
Beverages — 1.7%
Brown-Forman Corp. Class B		499		36,357
The Coca-Cola Co.		16,115		954,169
Constellation Brands, Inc. Class A		278		69,770
Keurig Dr Pepper, Inc.		2,066		76,153
PepsiCo, Inc.		9,379		1,629,226
				2,765,675
Biotechnology — 0.7%
Amgen, Inc.		1,211		272,439
Biogen, Inc. (a)		397		95,248
BioMarin Pharmaceutical, Inc. (a)		188		16,610
Gilead Sciences, Inc.		4,974		361,162
Illumina, Inc. (a)		68		25,870
Incyte Corp. (a)		302		22,167
Regeneron Pharmaceuticals, Inc. (a)		266		167,984
Vertex Pharmaceuticals, Inc. (a)		367		80,593
				1,042,073
Commercial Services — 1.4%
Automatic Data Processing, Inc.		2,238		551,846
Cintas Corp.		158		70,021
IHS Markit Ltd.		1,025		136,243
MarketAxess Holdings, Inc.		25		10,282
Moody's Corp.		752		293,716
PayPal Holdings, Inc. (a)		1,838		346,610
S&P Global, Inc.		1,234		582,362
Verisk Analytics, Inc.		725		165,829
				2,156,909
Cosmetics & Personal Care — 1.6%
Colgate-Palmolive Co.		3,633		310,040
The Estee Lauder Cos., Inc. Class A		415		153,633
The Procter & Gamble Co.		12,635		2,066,833
				2,530,506
Food — 1.0%
Campbell Soup Co.		543		23,599

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Conagra Brands, Inc.		585	$	19,978
General Mills, Inc.		2,755		185,632
The Hershey Co.		1,592		308,004
Hormel Foods Corp.		483		23,575
The J.M. Smucker Co.		789		107,162
Kellogg Co.		1,424		91,734
The Kraft Heinz Co.		1,988		71,369
The Kroger Co.		5,007		226,617
McCormick & Co., Inc.		299		28,887
Mondelez International, Inc. Class A		6,259		415,034
Sysco Corp.		344		27,021
				1,528,612
Health Care – Products — 2.5%
Abbott Laboratories		4,419		621,930
Align Technology, Inc. (a)		57		37,459
Baxter International, Inc.		1,331		114,253
Boston Scientific Corp. (a)		3,031		128,757
Danaher Corp.		1,998		657,362
Edwards Lifesciences Corp. (a)		1,682		217,903
IDEXX Laboratories, Inc. (a)		143		94,160
Intuitive Surgical, Inc. (a)		766		275,224
Medtronic PLC		3,508		362,903
ResMed, Inc.		245		63,818
Stryker Corp.		763		204,041
Thermo Fisher Scientific, Inc.		1,452		968,832
Waters Corp. (a)		200		74,520
West Pharmaceutical Services, Inc.		188		88,174
Zimmer Biomet Holdings, Inc.		271		34,428
				3,943,764
Health Care – Services — 2.0%
Anthem, Inc.		1,301		603,066
Centene Corp. (a)		773		63,695
HCA Healthcare, Inc.		258		66,285
Humana, Inc.		282		130,808
IQVIA Holdings, Inc. (a)		471		132,888
Laboratory Corp. of America Holdings (a)		312		98,034
Quest Diagnostics, Inc.		701		121,280
UnitedHealth Group, Inc.		4,027		2,022,118
				3,238,174
Household Products & Wares — 0.2%
Church & Dwight Co., Inc.		571		58,527
The Clorox Co.		274		47,775
Kimberly-Clark Corp.		1,381		197,372
				303,674
Pharmaceuticals — 3.2%
AbbVie, Inc.		2,812		380,745
AmerisourceBergen Corp.		381		50,631
Becton Dickinson and Co.		593		149,128
Bristol-Myers Squibb Co.		4,489		279,889
Cardinal Health, Inc.		591		30,431
Cigna Corp.		619		142,141
CVS Health Corp.		5,034		519,307

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
DexCom, Inc. (a)		56	$	30,069
Eli Lilly & Co.		2,056		567,908
Merck & Co., Inc.		14,953		1,145,998
Pfizer, Inc.		24,335		1,436,982
Zoetis, Inc.		1,498		365,557
				5,098,786
				22,801,548
Energy — 1.2%
Oil & Gas — 0.9%
Chevron Corp.		4,059		476,324
ConocoPhillips		2,948		212,787
Exxon Mobil Corp.		8,746		535,168
Hess Corp.		401		29,686
Marathon Petroleum Corp.		688		44,025
Occidental Petroleum Corp.		1,351		39,165
Pioneer Natural Resources Co.		355		64,567
Valero Energy Corp.		838		62,942
				1,464,664
Oil & Gas Services — 0.1%
Baker Hughes Co.		1,666		40,084
Schlumberger NV		1,680		50,316
				90,400
Pipelines — 0.2%
Cheniere Energy, Inc.		240		24,341
Kinder Morgan, Inc.		10,826		171,700
ONEOK, Inc.		688		40,427
The Williams Cos., Inc.		3,746		97,546
				334,014
				1,889,078
Financial — 9.2%
Banks — 2.6%
Bank of America Corp.		24,371		1,084,266
The Bank of New York Mellon Corp.		2,450		142,296
Fifth Third Bancorp		1,326		57,747
First Republic Bank		175		36,139
The Goldman Sachs Group, Inc.		1,334		510,322
JP Morgan Chase & Co.		9,425		1,492,449
KeyCorp.		2,674		61,850
M&T Bank Corp.		244		37,474
Morgan Stanley		1,937		190,136
Northern Trust Corp.		379		45,332
The PNC Financial Services Group, Inc.		820		164,426
Regions Financial Corp.		2,218		48,352
State Street Corp.		292		27,156
SVB Financial Group (a)		43		29,164
Truist Financial Corp.		1,005		58,843

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
US Bancorp		3,947	$	221,703
				4,207,655
Diversified Financial Services — 2.2%
American Express Co.		2,317		379,061
Ameriprise Financial, Inc.		186		56,109
BlackRock, Inc.		355		325,024
CME Group, Inc.		517		118,114
Discover Financial Services		1,053		121,685
Franklin Resources, Inc.		609		20,395
Intercontinental Exchange, Inc.		1,583		216,507
Nasdaq, Inc.		581		122,016
Synchrony Financial		3,489		161,855
T. Rowe Price Group, Inc.		910		178,942
Visa, Inc. Class A		8,100		1,755,351
				3,455,059
Insurance — 1.8%
The Allstate Corp.		3,182		374,362
American International Group, Inc.		2,086		118,610
Aon PLC Class A		788		236,841
Chubb Ltd.		1,893		365,936
The Hartford Financial Services Group, Inc.		1,728		119,301
Marsh & McLennan Cos., Inc.		3,414		593,422
MetLife, Inc.		5,088		317,949
Principal Financial Group, Inc.		483		34,936
The Progressive Corp.		2,400		246,360
Prudential Financial, Inc.		1,268		137,248
The Travelers Cos., Inc.		1,681		262,959
Willis Towers Watson PLC		363		86,209
				2,894,133
Private Equity — 0.4%
The Blackstone, Inc.		3,805		492,329
KKR & Co., Inc.		1,271		94,689
				587,018
Real Estate — 0.1%
CBRE Group, Inc. Class A (a)		1,259		136,614
Real Estate Investment Trusts (REITS) — 2.1%
Alexandria Real Estate Equities, Inc.		545		121,513
American Tower Corp.		1,747		510,997
AvalonBay Communities, Inc.		606		153,070
Boston Properties, Inc.		407		46,878
Crown Castle International Corp.		1,523		317,911
Digital Realty Trust, Inc.		645		114,081
Equinix, Inc.		290		245,294
Equity Residential		1,547		140,004
Essex Property Trust, Inc.		278		97,920
Healthpeak Properties, Inc.		1,125		40,601
Prologis, Inc.		3,156		531,344
Public Storage		1,254		469,698
SBA Communications Corp.		542		210,849
Simon Property Group, Inc.		388		61,991
Ventas, Inc.		897		45,855

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Welltower, Inc.		872	$	74,791
Weyerhaeuser Co.		2,030		83,595
				3,266,392
				14,546,871
Industrial — 4.8%
Building Materials — 0.4%
Carrier Global Corp.		2,208		119,762
Johnson Controls International PLC		5,523		449,075
				568,837
Electrical Components & Equipment — 0.2%
AMETEK, Inc.		523		76,902
Emerson Electric Co.		2,404		223,500
				300,402
Electronics — 0.9%
Agilent Technologies, Inc.		928		148,155
Amphenol Corp. Class A		2,501		218,737
Fortive Corp.		342		26,091
Garmin Ltd.		974		132,630
Honeywell International, Inc.		2,194		457,471
Keysight Technologies, Inc. (a)		776		160,252
Mettler-Toledo International, Inc. (a)		118		200,271
TE Connectivity Ltd.		1,034		166,825
				1,510,432
Environmental Controls — 0.9%
Republic Services, Inc.		2,363		329,521
Waste Connections, Inc.		2,134		290,800
Waste Management, Inc.		4,447		742,204
				1,362,525
Hand & Machine Tools — 0.0%
Stanley Black & Decker, Inc.		269		50,739
Machinery – Diversified — 0.5%
Deere & Co.		867		297,286
Dover Corp.		621		112,774
Otis Worldwide Corp.		3,056		266,086
Rockwell Automation, Inc.		424		147,912
				824,058
Miscellaneous - Manufacturing — 0.7%
3M Co.		2,238		397,536
Eaton Corp. PLC		1,337		231,060
General Electric Co.		675		63,767
Illinois Tool Works, Inc.		867		213,976
Parker-Hannifin Corp.		278		88,437
Trane Technologies PLC		687		138,795
				1,133,571

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Packaging & Containers — 0.1%
Amcor PLC		4,445	$	53,384
Ball Corp.		473		45,536
				98,920
Transportation — 1.1%
CSX Corp.		9,693		364,457
Expeditors International of Washington, Inc.		736		98,837
FedEx Corp.		451		116,647
Union Pacific Corp.		2,666		671,645
United Parcel Service, Inc. Class B		2,069		443,470
				1,695,056
				7,544,540
Technology — 19.3%
Computers — 6.6%
Accenture PLC Class A		4,275		1,772,201
Apple, Inc.		41,113		7,300,435
Cognizant Technology Solutions Corp. Class A		2,273		201,661
Crowdstrike Holdings, Inc. Class A (a)		228		46,683
Dell Technologies C (a)		2,144		120,428
EPAM Systems, Inc. (a)		213		142,380
Hewlett Packard Enterprise Co.		7,228		113,986
HP, Inc.		4,757		179,196
International Business Machines Corp.		4,036		539,452
NetApp, Inc.		1,143		105,145
Western Digital Corp. (a)		525		34,235
				10,555,802
Office & Business Equipment — 0.1%
Zebra Technologies Corp. Class A (a)		143		85,114
Semiconductors — 4.4%
Advanced Micro Devices, Inc. (a)		2,649		381,191
Analog Devices, Inc.		1,038		182,449
Applied Materials, Inc.		2,672		420,466
Broadcom, Inc.		1,598		1,063,325
Intel Corp.		21,855		1,125,533
KLA Corp.		449		193,119
Lam Research Corp.		336		241,634
Microchip Technology, Inc.		996		86,712
Micron Technology, Inc.		2,524		235,111
NVIDIA Corp.		5,495		1,616,134
Skyworks Solutions, Inc.		495		76,794
Texas Instruments, Inc.		6,018		1,134,213
Xilinx, Inc.		764		161,991
				6,918,672
Software — 8.2%
Adobe, Inc. (a)		2,515		1,426,156
Akamai Technologies, Inc. (a)		932		109,081
ANSYS, Inc. (a)		159		63,778
Autodesk, Inc. (a)		369		103,759
Cadence Design Systems, Inc. (a)		1,214		226,229

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Cerner Corp.		1,187	$	110,237
Citrix Systems, Inc.		221		20,904
DocuSign, Inc. (a)		233		35,488
Electronic Arts, Inc.		1,074		141,661
Fidelity National Information Services, Inc.		1,390		151,719
HubSpot, Inc. (a)		70		46,141
Intuit, Inc.		1,366		878,639
Microsoft Corp.		18,549		6,238,400
MSCI, Inc.		309		189,321
Oracle Corp.		14,591		1,272,481
Paychex, Inc.		1,217		166,120
Roper Technologies, Inc.		654		321,676
salesforce.com, Inc. (a)		2,031		516,138
ServiceNow, Inc. (a)		581		377,133
Splunk, Inc. (a)		85		9,836
Synopsys, Inc. (a)		681		250,948
Twilio, Inc. Class A (a)		81		21,331
Veeva Systems, Inc. Class A (a)		173		44,198
VMware, Inc. Class A		1,840		213,219
Workday, Inc. Class A (a)		417		113,916
				13,048,509
				30,608,097
Utilities — 2.0%
Electric — 1.9%
American Electric Power Co., Inc.		2,151		191,375
Avangrid, Inc. (b)		173		8,629
CMS Energy Corp.		1,553		101,023
Consolidated Edison, Inc.		1,622		138,389
Dominion Energy, Inc.		2,865		225,074
DTE Energy Co.		843		100,772
Duke Energy Corp.		4,490		471,001
Edison International		292		19,929
Entergy Corp.		571		64,323
Eversource Energy		1,194		108,630
Exelon Corp.		5,845		337,607
NextEra Energy, Inc.		6,028		562,774
Public Service Enterprise Group, Inc.		1,470		98,093
Sempra Energy		878		116,142
WEC Energy Group, Inc.		3,197		310,333
Xcel Energy, Inc.		1,439		97,420
				2,951,514
Water — 0.1%
American Water Works Co., Inc.		1,195		225,688
				3,177,202
TOTAL COMMON STOCK (Cost $87,586,103)				102,585,638
TOTAL EQUITIES (Cost $87,586,103)				102,585,638

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
BONDS & NOTES — 38.3%
CORPORATE DEBT — 14.7%
Agriculture — 0.2%
Archer-Daniels-Midland Co.
2.700% 9/15/51	$	49,000	$	49,314
Bunge Ltd. Finance Corp.
1.630% 8/17/25		13,000		12,959
3.250% 8/15/26		47,000		49,603
4.350% 3/15/24		77,000		81,890
Cargill, Inc.
3.125% 5/25/51 (b) (c)		74,000		79,379
				273,145
Airlines — 0.1%
American Airlines 2021-1 Class A Pass Through Trust
2.875% 1/11/36		69,000		68,397
Delta Air Lines, Inc./SkyMiles IP Ltd.
4.500% 10/20/25 (c)		82,995		87,255
				155,652
Banks — 3.9%
Australia & New Zealand Banking Group Ltd. 5 year CMT + 1.700%
2.570% VRN 11/25/35 (c)		225,000		215,674
Bank of America Corp.
5 year CMT + 1.200% 2.482% VRN 9/21/36		162,000		157,109
SOFR + 1.580% 3.311% VRN 4/22/42		270,000		284,582
4.183% 11/25/27		41,000		44,886
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38		23,000		27,049
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29		18,000		20,085
4.750% 4/21/45		63,000		78,736
7.750% 5/14/38		20,000		31,402
The Bank of New York Mellon Corp. 5 year CMT + 2.630%
3.750% VRN (d)		156,000		156,557
The Bank of Nova Scotia
4.500% 12/16/25		36,000		39,563
3 mo. USD LIBOR + 2.648% 4.650% VRN (d)		113,000		111,983
Citigroup, Inc.
SOFR + .528% 1.281% VRN 11/03/25		55,000		54,864
4.450% 9/29/27		27,000		30,124
5.500% 9/13/25		54,000		61,092
5.875% 1/30/42		18,000		25,506
6.000% 10/31/33		16,000		20,662
6.625% 6/15/32		14,000		18,596
8.125% 7/15/39		14,000		23,723
Cooperatieve Rabobank UA 1 year CMT + 0.550%
1.106% VRN 2/24/27 (c)		250,000		242,683
Credit Suisse Group AG SOFR + 2.044%
2.193% VRN 6/05/26 (c)		393,000		395,367
Fifth Third Bancorp SOFR + .685%
1.707% VRN 11/01/27		244,000		241,144
The Goldman Sachs Group, Inc.
SOFR + .798% 1.431% VRN 3/09/27		227,000		222,493
SOFR + 1.090% 1.992% VRN 1/27/32		135,000		129,581

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SOFR + 1.248% 2.383% VRN 7/21/32	$	76,000	$	74,917
4.250% 10/21/25		32,000		34,912
5.950% 1/15/27		72,000		84,917
6.750% 10/01/37		32,000		45,465
ING Groep NV
4.050% 4/09/29		344,000		384,479
JP Morgan Chase & Co.
SOFR + 1.180% 2.545% VRN 11/08/32		134,000		135,088
3 mo. USD LIBOR + 1.160% 3.702% VRN 5/06/30		320,000		350,027
5.600% 7/15/41		41,000		56,923
KeyBank NA/Cleveland OH
3.900% 4/13/29		356,000		393,623
Mizuho Financial Group, Inc.
2.564% 9/13/31		200,000		195,157
Morgan Stanley
SOFR + 1.360% 2.484% VRN 9/16/36		203,000		195,459
SOFR + 1.485% 3.217% VRN 4/22/42		44,000		46,229
4.350% 9/08/26		122,000		134,770
3 mo. USD LIBOR + 1.628% 4.431% VRN 1/23/30		304,000		346,718
5.000% 11/24/25		36,000		40,297
SVB Financial Group
1.800% 10/28/26		215,000		214,385
1.800% 2/02/31		189,000		179,263
2.100% 5/15/28		87,000		87,092
3.125% 6/05/30		18,000		18,910
3.500% 1/29/25		77,000		81,300
The Toronto-Dominion Bank 5 year USD Swap + 2.205%
3.625% VRN 9/15/31		374,000		401,993
				6,135,385
Beverages — 0.2%
Keurig Dr Pepper, Inc.
2.250% 3/15/31		31,000		30,582
3.400% 11/15/25		330,000		349,670
				380,252
Biotechnology — 0.3%
Amgen, Inc.
2.200% 2/21/27		347,000		355,402
Illumina, Inc.
0.550% 3/23/23 (b)		194,000		193,020
				548,422
Commercial Services — 0.3%
Element Fleet Management Corp.
1.600% 4/06/24 (c)		21,000		21,020
Moody's Corp.
4.250% 2/01/29		309,000		348,934
PayPal Holdings, Inc.
3.250% 6/01/50 (b)		27,000		29,030
Triton Container International Ltd.
3.150% 6/15/31 (c)		100,000		100,960
				499,944
Computers — 0.8%
Apple, Inc.

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
1.650% 5/11/30	$	46,000	$	44,814
2.650% 5/11/50		27,000		26,653
2.650% 2/08/51		90,000		88,838
3.000% 6/20/27		327,000		350,560
Dell International LLC/EMC Corp.
4.000% 7/15/24		336,000		356,597
Hewlett Packard Enterprise Co.
4.900% STEP 10/15/25		319,000		353,961
				1,221,423
Diversified Financial Services — 0.4%
Ally Financial, Inc.
2.200% 11/02/28		112,000		111,353
Brookfield Finance I UK PLC
2.340% 1/30/32		141,000		137,707
The Charles Schwab Corp. 10 year CMT + 3.079%
4.000% VRN (d)		93,000		93,930
CI Financial Corp.
3.200% 12/17/30		65,000		66,760
LSEGA Financing PLC
1.375% 4/06/26 (b) (c)		218,000		213,780
				623,530
Electric — 0.2%
Entergy Arkansas LLC
2.650% 6/15/51		72,000		67,182
Entergy Louisiana LLC
4.950% 1/15/45		36,000		38,702
Nevada Power Co.
6.650% 4/01/36		20,000		28,586
Xcel Energy, Inc.
6.500% 7/01/36		99,000		138,665
				273,135
Electronics — 0.1%
Vontier Corp.
2.400% 4/01/28 (c)		219,000		211,576
Food — 0.4%
Conagra Brands, Inc.
4.850% 11/01/28		297,000		342,870
General Mills, Inc.
3.000% 2/01/51 (b)		162,000		163,079
Ingredion, Inc.
3.200% 10/01/26		25,000		26,504
Mars, Inc.
3.950% 4/01/49 (c)		67,000		80,676
				613,129
Health Care – Products — 0.2%
STERIS Irish FinCo UnLtd Co.
3.750% 3/15/51		253,000		277,880
Health Care – Services — 0.5%
HCA, Inc.
5.000% 3/15/24		328,000		352,751

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Humana, Inc.
4.800% 3/15/47	$	23,000	$	29,229
Kaiser Foundation Hospitals
2.810% 6/01/41		110,000		110,914
3.002% 6/01/51		80,000		82,655
Mayo Clinic
3.196% 11/15/61		106,000		114,452
Providence St Joseph Health Obligated Group
2.700% 10/01/51		93,000		90,259
UnitedHealth Group, Inc.
3.125% 5/15/60 (b)		36,000		37,341
				817,601
Insurance — 0.9%
Allstate Corp. 3 mo. USD LIBOR + 2.938%
5.750% VRN 8/15/53		158,000		164,320
American International Group, Inc.
4.200% 4/01/28		36,000		40,189
4.500% 7/16/44		23,000		28,409
4.750% 4/01/48		13,000		16,613
3 mo. USD LIBOR + 2.868% 5.750% VRN 4/01/48		104,000		116,740
Arch Capital Finance LLC
5.031% 12/15/46		27,000		35,025
Arch Capital Group Ltd.
3.635% 6/30/50		49,000		52,612
Athene Global Funding
1.450% 1/08/26 (c)		117,000		114,978
Athene Holding Ltd.
3.950% 5/25/51		16,000		17,323
Brighthouse Financial, Inc.
3.850% 12/22/51		168,000		166,909
GA Global Funding Trust
1.625% 1/15/26 (c)		37,000		36,713
Global Atlantic Fin Co.
3.125% 6/15/31 (c)		72,000		71,351
Marsh & McLennan Cos., Inc.
4.375% 3/15/29		155,000		176,832
New York Life Insurance Co.
3.750% 5/15/50 (c)		23,000		26,273
Prudential Financial, Inc.
5 year CMT + 3.035% 3.700% VRN 10/01/50		18,000		18,227
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43		41,000		42,665
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48		99,000		110,993
3 mo. USD LIBOR + 4.175% 5.875% VRN 9/15/42		46,000		47,014
Reinsurance Group of America, Inc.
3.150% 6/15/30		49,000		51,089
3.900% 5/15/29		54,000		59,098
USF&G Capital I
8.500% 12/15/45 (c)		35,000		53,951
				1,447,324
Internet — 0.2%
Alphabet, Inc.
2.250% 8/15/60		32,000		28,661
Expedia Group, Inc.
2.950% 3/15/31		39,000		38,988

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Prosus NV
3.832% 2/08/51 (c)	$	233,000	$	218,069
				285,718
Investment Companies — 0.2%
Ares Capital Corp.
3.200% 11/15/31		161,000		158,475
Blackstone Secured Lending Fund
2.750% 9/16/26		158,000		158,066
				316,541
Media — 0.8%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500% 6/01/41		119,000		116,343
3.750% 2/15/28		191,000		204,764
3.850% 4/01/61		136,000		128,766
6.484% 10/23/45		32,000		43,821
Comcast Corp.
2.937% 11/01/56 (c)		43,000		41,139
3.400% 7/15/46		41,000		43,580
3.450% 2/01/50		49,000		52,518
3.750% 4/01/40		151,000		169,492
3.969% 11/01/47		23,000		26,575
Discovery Communications LLC
3.625% 5/15/30		160,000		171,217
3.950% 3/20/28		56,000		60,905
4.000% 9/15/55		27,000		28,402
4.650% 5/15/50		27,000		31,782
Time Warner Cable, Inc.
6.750% 6/15/39		27,000		36,869
The Walt Disney Co.
3.600% 1/13/51		58,000		65,839
				1,222,012
Mining — 0.0%
Teck Resources Ltd.
6.000% 8/15/40		32,000		41,026
Oil & Gas — 0.1%
BP Capital Markets America, Inc.
3.379% 2/08/61		95,000		98,034
BP Capital Markets PLC 5 year CMT + 4.036%
4.375% VRN (d)		58,000		60,465
				158,499
Packaging & Containers — 0.2%
Berry Global, Inc.
1.570% 1/15/26		48,000		46,969
Sealed Air Corp.
1.573% 10/15/26 (c)		44,000		42,687
Silgan Holdings, Inc.
1.400% 4/01/26 (c)		49,000		47,802
WRKCo, Inc.
3.000% 6/15/33		27,000		27,801

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
4.650% 3/15/26	$	192,000	$	214,185
				379,444
Pharmaceuticals — 0.8%
AbbVie, Inc.
4.700% 5/14/45		67,000		83,378
Becton Dickinson and Co.
4.685% 12/15/44		23,000		28,947
Bristol-Myers Squibb Co.
3.900% 2/20/28		312,000		348,001
4.350% 11/15/47		27,000		33,369
Cigna Corp.
2.400% 3/15/30		349,000		352,180
3.400% 3/15/51		47,000		49,331
4.800% 7/15/46		27,000		34,184
CVS Health Corp.
4.300% 3/25/28		10,000		11,230
5.050% 3/25/48		189,000		247,911
6.125% 9/15/39		8,000		11,102
Merck & Co., Inc.
1.900% 12/10/28		40,000		40,200
				1,239,833
Pipelines — 0.9%
Enbridge, Inc.
2.500% 8/01/33		190,000		186,730
Enterprise Products Operating LLC
3 mo. USD LIBOR + 3.033% 5.250% VRN 8/16/77		41,000		41,885
3 mo. USD LIBOR + 2.570% 5.375% VRN 2/15/78		27,000		27,110
Kinder Morgan, Inc.
3.250% 8/01/50		168,000		161,363
MPLX LP
1.750% 3/01/26		365,000		361,518
4.500% 4/15/38		27,000		30,305
ONEOK, Inc.
6.350% 1/15/31		304,000		381,995
Sabine Pass Liquefaction LLC
4.500% 5/15/30		196,000		221,297
The Williams Cos., Inc.
3.500% 10/15/51		45,000		45,632
				1,457,835
Real Estate — 0.2%
CBRE Services, Inc.
2.500% 4/01/31		243,000		242,860
Real Estate Investment Trusts (REITS) — 0.7%
American Tower Corp.
1.600% 4/15/26		96,000		95,069
2.700% 4/15/31		119,000		119,496
Brixmor Operating Partnership LP
2.250% 4/01/28		24,000		23,892
Crown Castle International Corp.
2.500% 7/15/31		88,000		87,449
3.700% 6/15/26		243,000		260,538
5.200% 2/15/49		11,000		14,161

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Extra Space Storage LP
2.350% 3/15/32	$	65,000	$	63,264
2.550% 6/01/31		89,000		87,679
Host Hotels & Resorts LP
3.500% 9/15/30		84,000		86,316
Kimco Realty Corp.
2.250% 12/01/31		58,000		56,583
Kite Realty Group LP
4.000% 10/01/26		110,000		116,727
Spirit Realty LP
2.100% 3/15/28		67,000		65,265
				1,076,439
Retail — 0.9%
Advance Auto Parts, Inc.
1.750% 10/01/27		13,000		12,624
3.900% 4/15/30		323,000		352,624
Alimentation Couche-Tard, Inc.
3.625% 5/13/51 (c)		71,000		74,952
AutoZone, Inc.
1.650% 1/15/31		41,000		38,628
The Home Depot, Inc.
2.375% 3/15/51		48,000		44,383
2.700% 4/15/30 (b)		97,000		101,878
Lowe's Cos., Inc.
3.000% 10/15/50		213,000		210,886
McDonald's Corp.
3.300% 7/01/25		332,000		352,094
Starbucks Corp.
2.550% 11/15/30		63,000		64,319
4.450% 8/15/49		86,000		106,224
				1,358,612
Semiconductors — 0.5%
Lam Research Corp.
3.750% 3/15/26		321,000		349,598
Microchip Technology, Inc.
0.983% 9/01/24 (c)		49,000		48,110
Micron Technology, Inc.
2.703% 4/15/32		75,000		75,085
4.185% 2/15/27		322,000		352,625
Skyworks Solutions, Inc.
1.800% 6/01/26		36,000		35,648
				861,066
Software — 0.2%
Electronic Arts, Inc.
2.950% 2/15/51		42,000		39,730
Microsoft Corp.
2.921% 3/17/52		80,000		85,283
Oracle Corp.
3.600% 4/01/40		197,000		198,342
				323,355
Telecommunications — 0.3%
Verizon Communications, Inc.

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
3.550% 3/22/51	$	47,000	$	50,804
3.700% 3/22/61		47,000		51,181
3.875% 2/08/29		314,000		348,257
				450,242
Transportation — 0.2%
CSX Corp.
4.750% 11/15/48		18,000		23,238
Ryder System, Inc.
3.650% 3/18/24		338,000		355,529
				378,767
TOTAL CORPORATE DEBT (Cost $23,292,056)				23,270,647
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 2.7%
Automobile Asset-Backed Securities — 0.4%
Avis Budget Rental Car Funding AESOP LLC, Series 2021-2A, Class A
1.660% 2/20/28 (c)		150,000		148,741
Enterprise Fleet Financing LLC, Series 2021-3, Class A3
1.220% 8/20/27 (c)		234,000		232,382
Hyundai Auto Receivables Trust, Series 2021-C, Class A4
1.030% 12/15/27		140,000		138,876
Toyota Auto Receivables Owner Trust, Series 2021-D, Class A4
1.020% 3/15/27		70,000		69,438
				589,437
Commercial Mortgage-Backed Securities — 0.9%
BANK
Series 2019-BN17, Class B, 4.128% VRN 4/15/52 (e)		29,000		31,829
Series 2019-BN16, Class AS, 4.267% 2/15/52		31,333		34,995
Series 2019-BN16, Class B, 4.438% VRN 2/15/52 (e)		24,330		27,084
BBCMS Mortgage Trust, Series 2020-C7, Class AS
2.444% 4/15/53		57,000		56,897
Benchmark Mortgage Trust
Class AS, 3.352% 12/15/62		150,000		158,930
Class AAB, 3.933% 3/15/52		274,000		298,078
BX Commercial Mortgage Trust
Class A, 1 mo. USD LIBOR + 0.700% 0.810% FRN 9/15/36 (c)		115,000		114,605
Class C, 1 mo. USD LIBOR + 1.100% 1.210% FRN 9/15/36 (c)		100,000		98,719
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class C,
4.200% VRN 10/12/50 (e)		70,000		71,976
Commercial Mortgage Pass-Through Certificates, Series 2014-LC17, Class C,
4.558% VRN 10/10/47 (e)		100,000		104,213
GS Mortgage Securities Trust
Series 2020-GC45, Class A5, 2.911% 2/13/53		140,000		147,449
Series 2017-GS6, Class B, 3.869% 5/10/50		79,000		84,674
Life Mortgage Trust
Class A, 1 mo. USD LIBOR + 0.700% 0.810% FRN 3/15/38 (c)		100,000		99,250
Class B, 1 mo. USD LIBOR + 0.880% 0.990% FRN 3/15/38 (c)		100,000		98,938
Morgan Stanley Capital I Trust, Series 2018-H3, Class B,
4.620% VRN 7/15/51 (e)		20,000		22,210
Wells Fargo Commercial Mortgage Trust
Series 2018-C45, Class AS, 4.405% VRN 6/15/51 (e)		30,000		33,194

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
Series 2018-C45, Class B, 4.556% 6/16/51	$	10,000	$	10,907
				1,493,948
Other Asset-Backed Securities — 0.4%
AMSR Trust, Series 2021-SFR3, Class B
1.726% 10/17/38 (c)		130,000		127,830
Dllmt LLC, Series 2021-1A, Class A4
1.240% 6/20/29 (c)		150,000		148,963
MVW LLC, Series 2021-2A, Class A
1.430% 5/20/39 (c)		300,000		296,357
Progress Residential Trust, Series 2021-SFR10, Class A
2.393% 12/17/40 (c)		100,000		100,130
				673,280
Whole Loan Collateral Collateralized Mortgage Obligations — 1.0%
Angel Oak Mortgage Trust, Series 2021-8, Class A1,
1.820% VRN 11/25/66 (c) (e)		304,000		303,963
Bayview MSR Opportunity Master Fund Trust
Series 2021-5, Class A2, 2.500% VRN 11/25/51 (c) (e)		147,839		147,643
Series 2021-5, Class A1, 3.000% VRN 11/25/51 (c) (e)		121,244		123,669
Flagstar Mortgage Trust, Series 2021-11IN, Class A6,
2.500% VRN 11/25/51 (c) (e)		263,778		267,549
Imperial Fund Mortgage Trust, Series 2021-NQM3, Class A1,
1.595% VRN 11/25/56 (c) (e)		167,488		166,980
JP Morgan Mortgage Trust, Series 2021-LTV2, Class A1,
2.520% VRN 5/25/52 (c) (e)		280,000		280,164
Starwood Mortgage Residential Trust, Series 2021-6, Class A1,
1.920% VRN 11/25/66 (c) (e)		297,000		297,824
				1,587,792
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $4,344,503)				4,344,457
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (f) — 8.1%
Pass-Through Securities — 8.1%
Federal Home Loan Mortgage Corp.
Pool #RA6233 2.000% 11/01/51		534,905		534,419
Pool #SD8100 3.000% 10/01/50		346,958		359,486
Pool #SD8174 3.000% 10/01/51		505,045		524,396
Federal National Mortgage Association
Pool #CB1787 2.000% 10/01/51		527,827		527,512
Pool #CB1782 2.000% 10/01/51		794,193		793,720
Pool #MA4361 2.500% 6/01/36		362,350		375,342
Pool #CB2074 2.500% 11/01/51		417,795		427,241
Pool #BO7245 3.000% 1/01/50		344,251		357,165
Uniform Mortgage Backed Securities TBA
2.000% 7/01/36 (g)		3,500,000		3,587,500
2.000% 7/01/51 (g)		3,129,000		3,123,133
2.500% 7/01/51 (g)		2,200,000		2,247,094
				12,857,008
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $12,883,255)				12,857,008

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
U.S. TREASURY OBLIGATIONS — 12.8%
U.S. Treasury Bonds & Notes — 12.8%
U.S. Treasury Bond
2.000% 11/15/41	$	1,253,200	$	1,267,299
2.000% 8/15/51		1,548,600		1,575,064
2.250% 8/15/49		873,900		933,733
U.S. Treasury Note
0.125% 5/15/23		1,400,000		1,391,960
0.250% 11/15/23		2,000,000		1,983,477
0.375% 4/30/25		1,543,600		1,509,911
0.500% 11/30/23 (b)		3,750,600		3,736,509
1.000% 12/15/24		3,326,400		3,330,558
1.250% 11/30/26		1,973,500		1,973,822
1.375% 11/15/31		944,000		932,200
1.500% 11/30/28		1,624,400		1,632,335
				20,266,868
TOTAL U.S. TREASURY OBLIGATIONS (Cost $20,369,002)				20,266,868
TOTAL BONDS & NOTES (Cost $60,888,816)				60,738,980
	Number of Shares
MUTUAL FUNDS — 2.6%
Diversified Financial Services — 2.6%
State Street Navigator Securities Lending Government Money Market Portfolio (h)		4,194,543		4,194,543
TOTAL MUTUAL FUNDS (Cost $4,194,543)				4,194,543
TOTAL LONG-TERM INVESTMENTS (Cost $152,669,462)				167,519,161
	Principal Amount
SHORT-TERM INVESTMENTS — 3.1%
Repurchase Agreement — 3.1%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (i)	$	4,848,496		4,848,496
U.S. Treasury Bill — 0.0%
U.S. Treasury Bill
0.044% 2/17/22 (j) (k)		3,000		3,000
0.046% 2/17/22 (j) (k)		4,000		4,000
0.047% 2/17/22 (j) (k)		55,000		54,998
0.050% 2/17/22 (j) (k)		1,000		1,000
				62,998
TOTAL SHORT-TERM INVESTMENTS (Cost $4,911,492)				4,911,494

MassMutual Balanced Fund —  Portfolio of Investments (Continued)

	Principal Amount	Value
TOTAL INVESTMENTS — 108.7% (Cost $157,580,954) (l)		$	172,430,655
Other Assets/(Liabilities) — (8.7)%			(13,759,396)
NET ASSETS — 100.0%		$	158,671,259

Abbreviation Legend

FRN Floating Rate Note

STEP Step Up Bond

TBA To Be Announced

VRN Variable Rate Note

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) 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, 2021, was $4,552,628 or 2.87% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $492,825 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(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, 2021, the aggregate market value of these securities amounted to $5,478,102 or 3.45% of net assets.

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

(e) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2021.

(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) Represents investment of security lending cash collateral. (Note 2).

(i) Maturity value of $4,848,496. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $4,945,479.

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

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

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

Futures contracts
	Expiration Date	Number of Contracts		Notional Amount		Value/ Net Unrealized Appreciation/ (Depreciation)
Short
U.S. Treasury Note 10 Year	3/22/22		15	$	(1,937,780)	$	(19,251)
U.S. Treasury Ultra 10 Year	3/22/22		9		(1,298,935)		(19,003)
U.S. Treasury Note 2 Year	3/31/22		4		(873,180)		492
U.S. Treasury Note 5 Year	3/31/22		8		(963,734)		(4,079)
						$	(41,841)

MassMutual Disciplined Value Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.1%
COMMON STOCK — 99.1%
Basic Materials — 2.5%
Chemicals — 1.4%
Axalta Coating Systems Ltd. (a)		9,791	$	324,278
Diversey Holdings Ltd. (a)		7,598		101,129
LyondellBasell Industries NV Class A		6,913		637,586
RPM International, Inc.		1,135		114,635
Valvoline, Inc.		5,501		205,132
Westlake Chemical Corp.		465		45,166
				1,427,926
Iron & Steel — 1.1%
Nucor Corp.		3,006		343,135
Reliance Steel & Aluminum Co.		114		18,493
Steel Dynamics, Inc.		12,246		760,109
				1,121,737
				2,549,663
Communications — 4.1%
Advertising — 1.1%
Omnicom Group, Inc.		14,467		1,059,997
Internet — 1.8%
Alphabet, Inc. Class A (a)		310		898,082
Alphabet, Inc. Class C (a)		189		546,889
F5, Inc. (a)		1,047		256,211
GoDaddy, Inc. Class A (a)		1,444		122,538
				1,823,720
Media — 0.6%
Discovery, Inc. Class A (a)		2,345		55,201
Discovery, Inc. Class C (a)		8,995		205,986
ViacomCBS, Inc. Class B		11,133		335,994
				597,181
Telecommunications — 0.6%
Lumen Technologies, Inc.		48,356		606,868
				4,087,766
Consumer, Cyclical — 6.2%
Auto Parts & Equipment — 1.0%
BorgWarner, Inc.		12,982		585,099

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Lear Corp.		2,109	$	385,841
				970,940
Distribution & Wholesale — 0.1%
Core & Main, Inc. (a)		2,880		87,379
Home Builders — 1.4%
D.R. Horton, Inc.		7,695		834,523
NVR, Inc. (a)		43		254,082
Thor Industries, Inc.		3,155		327,394
				1,415,999
Leisure Time — 0.1%
Polaris, Inc.		1,036		113,867
Retail — 3.6%
McDonald's Corp.		3,844		1,030,461
Ollie's Bargain Outlet Holdings, Inc. (a) (b)		3,871		198,156
Qurate Retail, Inc. Class A		20,812		158,171
Walmart, Inc.		13,108		1,896,597
Yum! Brands, Inc.		2,408		334,375
				3,617,760
				6,205,945
Consumer, Non-cyclical — 32.2%
Agriculture — 2.8%
Altria Group, Inc.		24,134		1,143,710
Philip Morris International, Inc.		17,335		1,646,825
				2,790,535
Beverages — 2.5%
The Coca-Cola Co.		539		31,914
Keurig Dr Pepper, Inc.		16,933		624,150
Monster Beverage Corp. (a)		8,790		844,192
PepsiCo, Inc.		6,072		1,054,767
				2,555,023
Biotechnology — 1.0%
Regeneron Pharmaceuticals, Inc. (a)		857		541,213
Vertex Pharmaceuticals, Inc. (a)		2,114		464,234
				1,005,447
Commercial Services — 3.9%
Driven Brands Holdings, Inc. (a)		2,492		83,781
Equifax, Inc.		2,838		830,938
Global Payments, Inc.		5,326		719,969
Moody's Corp.		1,206		471,039
Nielsen Holdings PLC		4,801		98,469
Rollins, Inc.		2,053		70,233
S&P Global, Inc.		2,398		1,131,688
Verisk Analytics, Inc.		2,385		545,521

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
WEX, Inc. (a)		113	$	15,864
				3,967,502
Cosmetics & Personal Care — 2.0%
The Procter & Gamble Co.		12,567		2,055,710
Food — 2.0%
Campbell Soup Co.		5,648		245,462
General Mills, Inc.		8,459		569,967
Kellogg Co.		4,709		303,354
Mondelez International, Inc. Class A		13,019		863,290
				1,982,073
Health Care – Products — 6.3%
Abbott Laboratories		10,973		1,544,340
Danaher Corp.		5,940		1,954,320
Hologic, Inc. (a)		8,843		677,020
Thermo Fisher Scientific, Inc.		3,209		2,141,173
				6,316,853
Health Care – Services — 4.9%
Anthem, Inc.		1,355		628,097
Centene Corp. (a)		2,309		190,262
Chemed Corp.		98		51,846
Laboratory Corp. of America Holdings (a)		1,836		576,889
Quest Diagnostics, Inc.		938		162,283
Syneos Health, Inc. (a)		2,090		214,601
UnitedHealth Group, Inc.		6,128		3,077,114
				4,901,092
Household Products & Wares — 0.9%
Kimberly-Clark Corp.		3,709		530,091
Reynolds Consumer Products, Inc.		11,363		356,798
				886,889
Pharmaceuticals — 5.9%
AmerisourceBergen Corp.		8,256		1,097,140
Bristol-Myers Squibb Co.		26,339		1,642,237
Herbalife Nutrition Ltd. (a)		1,934		79,158
Jazz Pharmaceuticals PLC (a)		3,068		390,863
McKesson Corp.		1,349		335,321
Pfizer, Inc.		41,177		2,431,502
				5,976,221
				32,437,345
Energy — 3.1%
Energy – Alternate Sources — 0.0%
Shoals Technologies Group, Inc. Class A (a)		915		22,235
Oil & Gas — 3.1%
APA Corp.		7,816		210,172
ConocoPhillips		10,280		742,010
Coterra Energy, Inc.		9,845		187,055

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Devon Energy Corp.		20,037	$	882,630
HollyFrontier Corp.		6,904		226,313
Marathon Oil Corp.		52,775		866,566
				3,114,746
				3,136,981
Financial — 26.9%
Banks — 6.6%
The Bank of New York Mellon Corp.		10,940		635,395
Citigroup, Inc.		25,824		1,559,511
JPMorgan Chase & Co.		19,545		3,094,951
KeyCorp.		38,618		893,234
US Bancorp		8,526		478,906
				6,661,997
Diversified Financial Services — 7.2%
Affiliated Managers Group, Inc.		3,731		613,787
American Express Co.		2,810		459,716
BlackRock, Inc.		1,740		1,593,074
Capital One Financial Corp.		905		131,306
The Charles Schwab Corp.		6,481		545,052
Discover Financial Services		2,045		236,320
Franklin Resources, Inc.		618		20,697
Intercontinental Exchange, Inc.		9,560		1,307,521
SLM Corp.		10,062		197,920
Synchrony Financial		8,886		412,221
T. Rowe Price Group, Inc.		4,634		911,230
Tradeweb Markets, Inc. Class A		1,942		194,472
Virtu Financial, Inc. Class A		21,078		607,679
				7,230,995
Insurance — 9.6%
Aflac, Inc.		19,338		1,129,146
The Allstate Corp.		4,360		512,954
American International Group, Inc.		3,554		202,080
Aon PLC Class A		662		198,971
Arthur J Gallagher & Co.		6,889		1,168,857
Athene Holding Ltd. Class A (a)		4,616		384,651
Brown & Brown, Inc.		15,514		1,090,324
Fidelity National Financial, Inc.		14,891		777,012
Globe Life, Inc.		2,988		280,035
Lincoln National Corp.		3,067		209,353
Loews Corp.		10,070		581,643
Marsh & McLennan Cos., Inc.		7,853		1,365,009
MetLife, Inc.		14,548		909,105
The Progressive Corp.		5,031		516,432
Reinsurance Group of America, Inc.		2,712		296,937
				9,622,509
Private Equity — 0.5%
Ares Management Corp. Class A		6,181		502,330
Real Estate — 1.2%
CBRE Group, Inc. Class A (a)		10,905		1,183,302

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Real Estate Investment Trusts (REITS) — 1.6%
Healthcare Trust of America, Inc. Class A		18,179	$	606,997
Omega Healthcare Investors, Inc.		6,739		199,407
Realty Income Corp.		2,804		200,738
SBA Communications Corp.		735		285,930
STORE Capital Corp.		3,034		104,370
Vornado Realty Trust		271		11,344
WP Carey, Inc.		2,068		169,679
				1,578,465
Savings & Loans — 0.2%
New York Community Bancorp, Inc.		19,961		243,724
				27,023,322
Industrial — 11.1%
Aerospace & Defense — 2.6%
General Dynamics Corp.		3,376		703,795
Raytheon Technologies Corp.		15,195		1,307,682
TransDigm Group, Inc. (a)		1,026		652,823
				2,664,300
Building Materials — 0.1%
Hayward Holdings, Inc. (a)		2,884		75,647
Electrical Components & Equipment — 1.2%
Emerson Electric Co.		12,446		1,157,105
Electronics — 0.7%
Arrow Electronics, Inc. (a)		4,886		656,043
Engineering & Construction — 0.3%
frontdoor, Inc. (a)		9,580		351,107
Hand & Machine Tools — 1.2%
Stanley Black & Decker, Inc.		6,160		1,161,899
Machinery – Diversified — 2.4%
Colfax Corp. (a)		608		27,950
Dover Corp.		3,100		562,960
Ingersoll Rand, Inc.		18,205		1,126,343
Westinghouse Air Brake Technologies Corp.		7,045		648,915
				2,366,168
Miscellaneous - Manufacturing — 1.1%
3M Co.		4,661		827,933
Illinois Tool Works, Inc.		1,325		327,010
				1,154,943
Transportation — 1.5%
C.H. Robinson Worldwide, Inc.		5,159		555,263
Expeditors International of Washington, Inc.		3,988		535,549
Knight-Swift Transportation Holdings, Inc.		6,149		374,720

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Ryder System, Inc.		997	$	82,183
				1,547,715
				11,134,927
Technology — 11.5%
Computers — 4.1%
Accenture PLC Class A		3,073		1,273,912
Dell Technologies C (a)		12,725		714,763
International Business Machines Corp.		5,938		793,673
Leidos Holdings, Inc.		2,029		180,378
McAfee Corp. Class A		10,291		265,405
Science Applications International Corp.		11,025		921,580
				4,149,711
Semiconductors — 3.2%
Analog Devices, Inc.		4,328		760,732
Micron Technology, Inc.		4,087		380,704
Skyworks Solutions, Inc.		5,520		856,373
Texas Instruments, Inc.		6,787		1,279,146
				3,276,955
Software — 4.2%
Activision Blizzard, Inc.		8,534		567,767
Fidelity National Information Services, Inc.		11,521		1,257,517
Fiserv, Inc. (a)		11,847		1,229,600
Jamf Holding Corp. (a) (b)		4,195		159,452
Oracle Corp.		4,542		396,108
SolarWinds Corp.		13,730		194,829
VMware, Inc. Class A		3,408		394,919
				4,200,192
				11,626,858
Utilities — 1.5%
Electric — 0.7%
NRG Energy, Inc.		17,205		741,191
Gas — 0.8%
National Fuel Gas Co.		11,848		757,561
				1,498,752
TOTAL COMMON STOCK (Cost $86,979,240)				99,701,559
TOTAL EQUITIES (Cost $86,979,240)				99,701,559
TOTAL LONG-TERM INVESTMENTS (Cost $86,979,240)				99,701,559

MassMutual Disciplined Value Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 0.9%
Repurchase Agreement — 0.9%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (c)	$	920,146	$	920,146
TOTAL SHORT-TERM INVESTMENTS (Cost $920,146)				920,146
TOTAL INVESTMENTS — 100.0% (Cost $87,899,386) (d)				100,621,705
Other Assets/(Liabilities) — (0.0)%				(9,066)
NET ASSETS — 100.0%			$	100,612,639

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, 2021, was $357,834 or 0.36% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $365,573 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 $920,146. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $938,610.

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

MassMutual Main Street Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 100.3%
COMMON STOCK — 100.3%
Basic Materials — 0.8%
Chemicals — 0.8%
Valvoline, Inc.		26,498	$	988,110
Communications — 15.2%
Internet — 11.2%
Airbnb, Inc. Class A (a)		8,614		1,434,145
Alphabet, Inc. Class A (a)		1,131		3,276,552
Amazon.com, Inc. (a)		2,005		6,685,352
Netflix, Inc. (a)		3,739		2,252,523
Snap, Inc. Class A (a)		7,932		373,042
Zillow Group, Inc. Class C (a) (b)		2,021		129,041
				14,150,655
Media — 1.4%
Comcast Corp. Class A		35,311		1,777,202
Telecommunications — 2.6%
Motorola Solutions, Inc.		5,090		1,382,953
Verizon Communications, Inc.		36,030		1,872,119
				3,255,072
				19,182,929
Consumer, Cyclical — 8.3%
Airlines — 0.4%
Southwest Airlines Co. (a)		12,161		520,977
Auto Manufacturers — 1.9%
General Motors Co. (a)		27,081		1,587,759
Tesla, Inc. (a)		714		754,541
				2,342,300
Entertainment — 0.3%
Warner Music Group Corp. Class A		7,908		341,468
Home Builders — 0.9%
D.R. Horton, Inc.		11,092		1,202,927
Retail — 4.8%
CarMax, Inc. (a)		9,061		1,180,014
Floor & Decor Holdings, Inc. Class A (a)		2,508		326,065
The Home Depot, Inc.		5,064		2,101,611
O'Reilly Automotive, Inc. (a)		1,393		983,778

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Target Corp.		6,435	$	1,489,317
				6,080,785
				10,488,457
Consumer, Non-cyclical — 22.7%
Beverages — 1.4%
The Coca-Cola Co.		10,984		650,363
Constellation Brands, Inc. Class A		4,573		1,147,686
				1,798,049
Biotechnology — 0.9%
Seagen, Inc. (a)		7,051		1,090,085
Commercial Services — 1.5%
PayPal Holdings, Inc. (a)		5,957		1,123,371
TransUnion		6,165		731,046
				1,854,417
Cosmetics & Personal Care — 2.8%
Coty, Inc. Class A (a)		12,654		132,867
The Procter & Gamble Co.		20,859		3,412,115
				3,544,982
Food — 2.1%
Mondelez International, Inc. Class A		21,839		1,448,144
Sysco Corp.		15,311		1,202,679
				2,650,823
Health Care – Products — 2.3%
Avantor, Inc. (a)		29,671		1,250,336
The Cooper Cos., Inc.		3,229		1,352,757
Quidel Corp. (a)		1,910		257,831
				2,860,924
Health Care – Services — 5.9%
HCA Healthcare, Inc.		11,351		2,916,299
Tenet Healthcare Corp. (a)		9,927		810,936
UnitedHealth Group, Inc.		7,349		3,690,227
				7,417,462
Pharmaceuticals — 5.8%
AstraZeneca PLC Sponsored ADR		30,316		1,765,907
Bayer AG Registered		5,314		284,482
CVS Health Corp.		25,823		2,663,901
Eli Lilly & Co.		9,669		2,670,771
				7,385,061
				28,601,803

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Energy — 2.1%
Oil & Gas — 1.6%
Exxon Mobil Corp.		13,308	$	814,317
Valero Energy Corp.		16,264		1,221,589
				2,035,906
Pipelines — 0.5%
Magellan Midstream Partners LP (c)		14,741		684,572
				2,720,478
Financial — 13.3%
Banks — 5.6%
CIT Group, Inc.		13,286		682,103
First Citizens BancShares, Inc. Class A		550		456,412
JP Morgan Chase & Co.		25,109		3,976,010
Signature Bank		2,811		909,274
SVB Financial Group (a)		1,494		1,013,291
				7,037,090
Diversified Financial Services — 2.1%
Intercontinental Exchange, Inc.		14,144		1,934,475
Rocket Cos., Inc. Class A		53,696		751,744
				2,686,219
Insurance — 2.9%
The Allstate Corp.		12,790		1,504,743
Equitable Holdings, Inc.		67,468		2,212,276
				3,717,019
Real Estate Investment Trusts (REITS) — 2.7%
Prologis, Inc.		20,070		3,378,985
				16,819,313
Industrial — 11.3%
Aerospace & Defense — 1.7%
Raytheon Technologies Corp.		24,664		2,122,584
Building Materials — 1.3%
Vulcan Materials Co.		7,795		1,618,086
Electronics — 0.3%
Hubbell, Inc.		1,804		375,719
Environmental Controls — 0.7%
Waste Connections, Inc.		6,360		866,677
Machinery – Construction & Mining — 1.3%
Caterpillar, Inc.		7,672		1,586,109
Machinery – Diversified — 2.1%
Otis Worldwide Corp.		21,099		1,837,090

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Rockwell Automation, Inc.		2,456	$	856,776
				2,693,866
Transportation — 3.9%
Union Pacific Corp.		4,802		1,209,768
United Parcel Service, Inc. Class B		17,459		3,742,162
				4,951,930
				14,214,971
Technology — 25.1%
Computers — 4.6%
Accenture PLC Class A		4,702		1,949,214
Amdocs Ltd.		3,480		260,443
Apple, Inc.		20,487		3,637,877
				5,847,534
Semiconductors — 5.8%
Advanced Micro Devices, Inc. (a)		13,134		1,889,983
Applied Materials, Inc.		11,563		1,819,554
QUALCOMM, Inc.		19,476		3,561,576
				7,271,113
Software — 14.7%
Fiserv, Inc. (a)		15,264		1,584,250
Manhattan Associates, Inc. (a)		2,464		383,127
Microsoft Corp.		25,407		8,544,882
salesforce.com, Inc. (a)		11,698		2,972,813
ServiceNow, Inc. (a)		1,135		736,740
Snowflake, Inc. Class A (a)		1,737		588,409
VMware, Inc. Class A		16,416		1,902,286
Workday, Inc. Class A (a)		4,905		1,339,948
Zynga, Inc. Class A (a)		75,937		485,997
				18,538,452
				31,657,099
Utilities — 1.5%
Electric — 1.5%
FirstEnergy Corp.		45,894		1,908,731
TOTAL COMMON STOCK (Cost $91,608,461)				126,581,891
TOTAL EQUITIES (Cost $91,608,461)				126,581,891

MassMutual Main Street Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
MUTUAL FUNDS — 0.1%
Diversified Financial Services — 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		130,435	$	130,435
TOTAL MUTUAL FUNDS (Cost $130,435)				130,435
TOTAL LONG-TERM INVESTMENTS (Cost $91,738,896)				126,712,326
	Principal Amount
SHORT-TERM INVESTMENTS — 0.2%
Repurchase Agreement — 0.2%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (e)	$	297,880	$	297,880
TOTAL SHORT-TERM INVESTMENTS (Cost $297,880)				297,880
TOTAL INVESTMENTS — 100.6% (Cost $92,036,776) (f)				127,010,206
Other Assets/(Liabilities) — (0.6)%				(761,966)
NET ASSETS — 100.0%			$	126,248,240

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, 2021, was $127,636 or 0.10% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments.. (Note 2).

(c) Security is a Master Limited Partnership.

(d) Represents investment of security lending cash collateral. (Note 2).

(e) Maturity value of $297,880. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 07/31/28 , and an aggregate market value, including accrued interest, of $303,872.

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

MassMutual Disciplined Growth Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.1%
COMMON STOCK — 99.1%
Basic Materials — 0.4%
Chemicals — 0.2%
LyondellBasell Industries NV Class A		3,143	$	289,879
Olin Corp.		3,577		205,749
				495,628
Iron & Steel — 0.2%
Steel Dynamics, Inc.		11,436		709,832
				1,205,460
Communications — 20.9%
Advertising — 0.6%
The Trade Desk, Inc. Class A (a)		17,385		1,593,162
Internet — 19.8%
Alphabet, Inc. Class A (a)		3,087		8,943,162
Alphabet, Inc. Class C (a)		2,407		6,964,871
Amazon.com, Inc. (a)		5,024		16,751,724
CDW Corp.		15,372		3,147,878
eBay, Inc.		3,207		213,266
Etsy, Inc. (a)		5,246		1,148,559
Figs, Inc. Class A (a)		7,523		207,334
GoDaddy, Inc. Class A (a)		356		30,210
Match Group, Inc. (a)		11,915		1,575,759
Meta Platforms, Inc. Class A (a)		33,272		11,191,037
Netflix, Inc. (a)		5,409		3,258,598
Wayfair, Inc. Class A (a) (b)		549		104,294
				53,536,692
Media — 0.4%
Charter Communications, Inc. Class A (a)		1,318		859,296
Nexstar Media Group, Inc. Class A		2,665		402,362
				1,261,658
Telecommunications — 0.1%
CommScope Holding Co., Inc. (a)		21,307		235,229
				56,626,741
Consumer, Cyclical — 9.1%
Apparel — 1.2%
Hanesbrands, Inc.		8,951		149,661

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
NIKE, Inc. Class B		18,649	$	3,108,229
				3,257,890
Auto Parts & Equipment — 0.3%
Allison Transmission Holdings, Inc.		21,240		772,074
Distribution & Wholesale — 0.3%
Core & Main, Inc. (a)		24,568		745,393
Home Builders — 1.8%
D.R. Horton, Inc.		19,486		2,113,257
NVR, Inc. (a)		59		348,623
PulteGroup, Inc.		11,078		633,218
Thor Industries, Inc.		16,428		1,704,734
				4,799,832
Home Furnishing — 0.4%
Tempur Sealy International, Inc.		25,069		1,178,995
Leisure Time — 0.5%
Brunswick Corp.		1,804		181,717
Polaris, Inc.		1,994		219,161
YETI Holdings, Inc. (a)		12,274		1,016,655
				1,417,533
Retail — 4.6%
AutoZone, Inc. (a)		848		1,777,739
Bath & Body Works, Inc.		5,871		409,737
Best Buy Co., Inc.		3,626		368,402
Costco Wholesale Corp.		5,817		3,302,311
Lithia Motors, Inc.		1,709		507,487
Lowe's Cos., Inc.		11,083		2,864,734
Lululemon Athletica, Inc. (a)		4,419		1,729,817
McDonald's Corp.		4,749		1,273,064
Williams-Sonoma, Inc.		1,305		220,715
				12,454,006
				24,625,723
Consumer, Non-cyclical — 18.2%
Agriculture — 1.1%
Altria Group, Inc.		63,123		2,991,399
Beverages — 1.9%
The Coca-Cola Co.		34,915		2,067,317
Monster Beverage Corp. (a)		31,902		3,063,868
				5,131,185
Biotechnology — 2.0%
Maravai LifeSciences Holdings, Inc. Class A (a)		7,394		309,809
Moderna, Inc. (a)		6,182		1,570,105
Novavax, Inc. (a) (b)		2,447		350,092
Regeneron Pharmaceuticals, Inc. (a)		1,681		1,061,585

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Vertex Pharmaceuticals, Inc. (a)		9,537	$	2,094,325
				5,385,916
Commercial Services — 5.6%
Automatic Data Processing, Inc.		948		233,758
Block, Inc. (a)		2,381		384,555
Equifax, Inc.		1,723		504,477
Gartner, Inc. (a)		8,596		2,873,815
MarketAxess Holdings, Inc.		914		375,901
Moody's Corp.		4,041		1,578,334
PayPal Holdings, Inc. (a)		15,024		2,833,226
S&P Global, Inc.		7,602		3,587,612
Shift4 Payments, Inc. Class A (a)		2,640		152,935
TransUnion		3,348		397,006
United Rentals, Inc. (a)		2,013		668,900
Verisk Analytics, Inc.		6,631		1,516,708
				15,107,227
Cosmetics & Personal Care — 0.4%
The Estee Lauder Cos., Inc. Class A		2,490		921,798
Health Care – Products — 4.5%
Align Technology, Inc. (a)		2,522		1,657,408
Avantor, Inc. (a)		22,581		951,563
Danaher Corp.		8,564		2,817,642
IDEXX Laboratories, Inc. (a)		2,088		1,374,864
Intuitive Surgical, Inc. (a)		7,056		2,535,221
Thermo Fisher Scientific, Inc.		4,362		2,910,501
				12,247,199
Health Care – Services — 1.3%
Syneos Health, Inc. (a)		4,799		492,761
UnitedHealth Group, Inc.		6,047		3,036,441
				3,529,202
Pharmaceuticals — 1.4%
AbbVie, Inc.		27,723		3,753,694
				49,067,620
Energy — 0.6%
Energy – Alternate Sources — 0.3%
Enphase Energy, Inc. (a)		4,837		884,881
Oil & Gas — 0.3%
Texas Pacific Land Corp.		520		649,412
				1,534,293
Financial — 9.3%
Diversified Financial Services — 5.8%
Discover Financial Services		5,321		614,895
Mastercard, Inc. Class A		17,730		6,370,743
Rocket Cos., Inc. Class A		56,556		791,784
T. Rowe Price Group, Inc.		5,294		1,041,012

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Visa, Inc. Class A		31,307	$	6,784,540
				15,602,974
Insurance — 1.6%
Aon PLC Class A		3,887		1,168,277
Brown & Brown, Inc.		39,800		2,797,144
Lincoln National Corp.		4,794		327,238
				4,292,659
Private Equity — 1.6%
Ares Management Corp. Class A		23,363		1,898,711
The Blackstone, Inc.		19,422		2,513,013
				4,411,724
Real Estate — 0.1%
CBRE Group, Inc. Class A (a)		2,106		228,522
Real Estate Investment Trusts (REITS) — 0.2%
Simon Property Group, Inc.		3,728		595,623
				25,131,502
Industrial — 4.2%
Aerospace & Defense — 0.6%
Lockheed Martin Corp.		514		182,681
TransDigm Group, Inc. (a)		2,194		1,395,998
				1,578,679
Electrical Components & Equipment — 0.6%
Generac Holdings, Inc. (a)		4,543		1,598,773
Electronics — 0.9%
Amphenol Corp. Class A		28,271		2,472,582
Engineering & Construction — 0.5%
frontdoor, Inc. (a)		36,822		1,349,526
Machinery – Diversified — 0.4%
Graco, Inc.		7,368		594,008
Nordson Corp.		2,256		575,889
				1,169,897
Miscellaneous - Manufacturing — 0.4%
Illinois Tool Works, Inc.		3,900		962,520
Transportation — 0.8%
Expeditors International of Washington, Inc.		10,224		1,372,981
Landstar System, Inc.		5,207		932,157
				2,305,138
				11,437,115

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Technology — 36.4%
Computers — 7.4%
Accenture PLC Class A		12,203	$	5,058,754
Apple, Inc.		73,958		13,132,722
EPAM Systems, Inc. (a)		638		426,471
HP, Inc.		17,248		649,732
McAfee Corp. Class A		25,353		653,854
				19,921,533
Office & Business Equipment — 0.7%
Zebra Technologies Corp. Class A (a)		3,204		1,907,021
Semiconductors — 9.8%
Advanced Micro Devices, Inc. (a)		27,682		3,983,440
Applied Materials, Inc.		15,140		2,382,430
KLA Corp.		6,234		2,681,306
Lam Research Corp.		2,805		2,017,216
Micron Technology, Inc.		10,863		1,011,888
NVIDIA Corp.		36,934		10,862,659
QUALCOMM, Inc.		19,488		3,563,770
				26,502,709
Software — 18.5%
Adobe, Inc. (a)		10,130		5,744,318
Aspen Technology, Inc. (a)		246		37,441
Autodesk, Inc. (a)		3,026		850,881
Datadog, Inc. Class A (a)		5,311		945,942
Dynatrace, Inc. (a)		12,453		751,539
Fiserv, Inc. (a)		23,684		2,458,162
Intuit, Inc.		6,525		4,197,010
Jamf Holding Corp. (a) (b)		9,769		371,320
Microsoft Corp.		91,432		30,750,410
Paycom Software, Inc. (a)		1,779		738,623
Playtika Holding Corp. (a)		3,226		55,778
salesforce.com, Inc. (a)		4,004		1,017,537
Tyler Technologies, Inc. (a)		2,036		1,095,266
Zoom Video Communications, Inc. Class A (a)		6,076		1,117,437
				50,131,664
				98,462,927
TOTAL COMMON STOCK (Cost $197,076,525)				268,091,381
TOTAL EQUITIES (Cost $197,076,525)				268,091,381
MUTUAL FUNDS — 0.7%
Diversified Financial Services — 0.7%
iShares Russell 1000 Growth Index Fund		4,445		1,358,348

MassMutual Disciplined Growth Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
State Street Navigator Securities Lending Prime Portfolio (c)		458,954	$	458,954
TOTAL MUTUAL FUNDS (Cost $1,805,555)				1,817,302
TOTAL LONG-TERM INVESTMENTS (Cost $198,882,080)				269,908,683
	Principal Amount
SHORT-TERM INVESTMENTS — 0.5%
Repurchase Agreement — 0.5%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (d)	$	1,390,161	$	1,390,161
TOTAL SHORT-TERM INVESTMENTS (Cost $1,390,161)				1,390,161
TOTAL INVESTMENTS — 100.3% (Cost $200,272,241) (e)				271,298,844
Other Assets/(Liabilities) — (0.3)%				(913,662)
NET ASSETS — 100.0%			$	270,385,182

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, 2021, was $831,770 or 0.31% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $390,797 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(c) Represents investment of security lending cash collateral. (Note 2).

(d) Maturity value of $1,390,161. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $1,418,038.

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

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 99.1%
COMMON STOCK — 99.1%
Basic Materials — 3.2%
Chemicals — 1.4%
Amyris, Inc. (a) (b)		180,920	$	978,777
Diversey Holdings Ltd. (a)		158,007		2,103,073
NewMarket Corp.		5,695		1,951,791
				5,033,641
Mining — 1.8%
Compass Minerals International, Inc.		57,773		2,951,045
Kaiser Aluminum Corp.		37,882		3,558,635
				6,509,680
				11,543,321
Communications — 3.0%
Internet — 2.0%
Overstock.com, Inc. (a)		39,801		2,348,657
Q2 Holdings, Inc. (a)		63,033		5,007,341
				7,355,998
Telecommunications — 1.0%
EchoStar Corp. Class A (a)		129,268		3,406,212
				10,762,210
Consumer, Cyclical — 11.3%
Airlines — 0.5%
Spirit Airlines, Inc. (a)		81,057		1,771,095
Auto Parts & Equipment — 3.0%
Allison Transmission Holdings, Inc.		54,911		1,996,015
Dorman Products, Inc. (a)		41,590		4,700,086
Visteon Corp. (a)		38,036		4,227,321
				10,923,422
Entertainment — 0.8%
Cedar Fair LP (a) (c)		58,867		2,946,882
Home Builders — 0.4%
Skyline Champion Corp. (a)		16,719		1,320,467
Lodging — 0.5%
Boyd Gaming Corp. (a)		28,915		1,895,957

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Retail — 6.1%
AutoNation, Inc. (a)		58,288	$	6,810,953
BJ's Wholesale Club Holdings, Inc. (a)		79,524		5,325,722
Denny's Corp. (a)		219,804		3,516,864
Suburban Propane Partners LP (c)		197,332		2,890,914
Texas Roadhouse, Inc.		38,302		3,419,602
				21,964,055
				40,821,878
Consumer, Non-cyclical — 22.8%
Biotechnology — 2.2%
ADC Therapeutics SA (a)		25,708		519,301
Avid Bioservices, Inc. (a)		94,207		2,748,960
NeoGenomics, Inc. (a)		76,189		2,599,569
Twist Bioscience Corp. (a)		24,617		1,905,110
				7,772,940
Commercial Services — 5.4%
ASGN, Inc. (a)		49,576		6,117,678
Korn Ferry		86,170		6,525,654
Monro, Inc.		82,146		4,786,648
Paya Holdings, Inc. Class A (a)		307,335		1,948,504
				19,378,484
Food — 2.6%
BellRing Brands, Inc. Class A (a)		146,417		4,177,277
The Simply Good Foods Co. (a)		122,926		5,110,034
				9,287,311
Health Care – Products — 4.9%
Adaptive Biotechnologies Corp. (a)		58,113		1,630,651
AtriCure, Inc. (a)		61,463		4,273,522
BioLife Solutions, Inc. (a)		63,533		2,367,875
Inspire Medical Systems, Inc. (a)		23,826		5,481,409
Tandem Diabetes Care, Inc. (a)		26,953		4,056,966
				17,810,423
Health Care – Services — 6.0%
Acadia Healthcare Co., Inc. (a)		87,800		5,329,460
Addus HomeCare Corp. (a)		42,808		4,002,976
LHC Group, Inc. (a)		33,907		4,653,057
Tenet Healthcare Corp. (a)		92,259		7,536,638
				21,522,131
Household Products & Wares — 0.5%
ACCO Brands Corp.		222,842		1,840,675
Pharmaceuticals — 1.2%
Collegium Pharmaceutical, Inc. (a)		81,561		1,523,560

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Heska Corp. (a)		14,766	$	2,694,647
				4,218,207
				81,830,171
Energy — 2.3%
Oil & Gas — 1.8%
Chesapeake Energy Corp.		49,808		3,213,612
CNX Resources Corp. (a)		232,114		3,191,568
				6,405,180
Oil & Gas Services — 0.5%
Nov, Inc.		134,846		1,827,163
				8,232,343
Financial — 19.3%
Banks — 4.5%
The Bank of NT Butterfield & Son Ltd.		67,755		2,582,143
BankUnited, Inc.		98,499		4,167,493
Cathay General Bancorp		82,457		3,544,826
FB Financial Corp.		44,901		1,967,562
Heritage Financial Corp.		79,937		1,953,660
Silvergate Capital Corp. Class A (a)		12,121		1,796,332
				16,012,016
Diversified Financial Services — 4.0%
Federated Hermes, Inc.		96,206		3,615,422
Focus Financial Partners, Inc. Class A (a)		77,550		4,631,286
Stifel Financial Corp.		89,567		6,307,308
				14,554,016
Insurance — 0.9%
Definity Financial Corp. (a)		136,295		3,181,779
Real Estate Investment Trusts (REITS) — 4.3%
DiamondRock Hospitality Co. (a)		407,451		3,915,604
Four Corners Property Trust, Inc.		170,509		5,014,670
National Storage Affiliates Trust		94,646		6,549,503
				15,479,777
Savings & Loans — 5.6%
Berkshire Hills Bancorp, Inc.		82,992		2,359,463
OceanFirst Financial Corp.		98,477		2,186,189
Pacific Premier Bancorp, Inc.		102,531		4,104,316
Sterling Bancorp		238,509		6,151,147
WSFS Financial Corp.		108,563		5,441,178
				20,242,293
				69,469,881

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Industrial — 18.3%
Building Materials — 2.7%
Masonite International Corp. (a)		33,889	$	3,997,208
Summit Materials, Inc. Class A (a)		139,939		5,617,151
				9,614,359
Electrical Components & Equipment — 1.5%
Energizer Holdings, Inc.		69,678		2,794,088
EnerSys		35,142		2,778,326
				5,572,414
Electronics — 1.6%
Atkore, Inc. (a)		50,938		5,663,796
Engineering & Construction — 2.5%
Comfort Systems USA, Inc.		29,851		2,953,458
TopBuild Corp. (a)		21,662		5,976,762
				8,930,220
Environmental Controls — 2.0%
Evoqua Water Technologies Corp. (a)		151,994		7,105,719
Hand & Machine Tools — 1.1%
Regal Rexnord Corp.		23,278		3,961,450
Machinery – Diversified — 2.4%
Curtiss-Wright Corp.		27,307		3,786,662
Zurn Water Solutions Corp.		130,805		4,761,302
				8,547,964
Metal Fabricate & Hardware — 0.8%
Valmont Industries, Inc.		11,941		2,991,220
Miscellaneous - Manufacturing — 1.2%
EnPro Industries, Inc.		37,896		4,171,213
Packaging & Containers — 0.7%
Silgan Holdings, Inc.		62,153		2,662,635
Transportation — 1.8%
CryoPort, Inc. (a)		62,640		3,706,409
Hub Group, Inc. Class A (a)		33,241		2,800,222
				6,506,631
				65,727,621
Technology — 15.6%
Computers — 2.9%
CACI International, Inc. Class A (a)		17,284		4,653,026
KBR, Inc.		119,950		5,712,019
				10,365,045
Semiconductors — 5.2%
Allegro MicroSystems, Inc. (a)		72,650		2,628,477

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Azenta, Inc.		64,379	$	6,638,119
MKS Instruments, Inc.		24,752		4,311,056
Semtech Corp. (a)		58,619		5,212,987
				18,790,639
Software — 7.5%
BlackBerry Ltd. (a)		191,096		1,786,748
Bottomline Technologies de, Inc. (a)		90,709		5,122,337
Consensus Cloud Solutions, Inc. (a)		32,535		1,882,800
Envestnet, Inc. (a)		28,227		2,239,530
Everbridge, Inc. (a)		14,128		951,238
Olo, Inc. Class A (a)		63,817		1,328,032
Paycor HCM, Inc. (a) (b)		108,874		3,136,660
Ziff Davis, Inc. (a)		61,187		6,783,191
Zynga, Inc. Class A (a)		566,968		3,628,595
				26,859,131
				56,014,815
Utilities — 3.3%
Electric — 1.3%
Avista Corp.		109,887		4,669,099
Gas — 2.0%
National Fuel Gas Co.		63,069		4,032,632
Northwest Natural Holding Co.		62,476		3,047,579
				7,080,211
				11,749,310
TOTAL COMMON STOCK (Cost $270,346,098)				356,151,550
TOTAL EQUITIES (Cost $270,346,098)				356,151,550
MUTUAL FUNDS — 0.4%
Diversified Financial Services — 0.4%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		1,669,159		1,669,159
TOTAL MUTUAL FUNDS (Cost $1,669,159)				1,669,159
TOTAL LONG-TERM INVESTMENTS (Cost $272,015,257)				357,820,709
	Principal Amount
SHORT-TERM INVESTMENTS — 1.5%
Repurchase Agreement — 1.5%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (e)	$	5,283,431	$	5,283,431

MassMutual Small Cap Opportunities Fund —  Portfolio of Investments (Continued)

	Principal Amount	Value
TOTAL SHORT-TERM INVESTMENTS (Cost $5,283,431)		$	5,283,431
TOTAL INVESTMENTS — 101.0% (Cost $277,298,688) (f)			363,104,140
Other Assets/(Liabilities) — (1.0)%			(3,654,465)
NET ASSETS — 100.0%		$	359,449,675

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, 2021, was $2,581,484 or 0.72% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $975,803 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).

(c) Security is a Master Limited Partnership.

(d) Represents investment of security lending cash collateral. (Note 2).

(e) Maturity value of $5,283,431. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $5,389,111.

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

MassMutual Global Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 100.7%
COMMON STOCK — 100.7%
Cayman Islands — 4.8%
Farfetch Ltd. Class A (a)		95,770	$	3,201,591
JD.com, Inc. ADR (a)		165,575		11,601,840
Meituan Class B (a) (b)		41,700		1,205,543
StoneCo Ltd. Class A (a)		49,152		828,703
				16,837,677
Denmark — 0.2%
Ambu A/S Class B		30,345		794,244
France — 8.6%
Dassault Systemes SE		23,254		1,379,478
Kering SA		12,624		10,129,414
LVMH Moet Hennessy Louis Vuitton SE		22,558		18,614,869
				30,123,761
Germany — 2.6%
SAP SE		62,714		8,956,876
India — 4.5%
DLF Ltd.		1,834,752		9,665,358
ICICI Bank Ltd. Sponsored ADR		310,450		6,143,806
				15,809,164
Italy — 0.4%
Brunello Cucinelli SpA (a)		20,161		1,384,539
Japan — 12.2%
FANUC Corp.		6,700		1,420,305
Keyence Corp.		17,100		10,746,703
Murata Manufacturing Co. Ltd.		113,030		8,973,963
Nidec Corp.		99,500		11,696,314
Omron Corp.		58,500		5,829,076
TDK Corp.		96,000		3,747,792
				42,414,153
Netherlands — 3.9%
Airbus SE (a)		81,602		10,421,703
ASML Holding NV		3,315		2,643,290
uniQure NV (a)		26,916		558,238
				13,623,231
Spain — 0.2%
Industria de Diseno Textil SA		22,216		719,985

MassMutual Global Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sweden — 3.5%
Assa Abloy AB Class B		166,942	$	5,071,353
Atlas Copco AB Class A		104,285		7,218,977
				12,290,330
Switzerland — 1.0%
Lonza Group AG Registered		2,759		2,298,367
Zur Rose Group AG (a) (c)		4,507		1,163,506
				3,461,873
United Kingdom — 0.2%
Prudential PLC		45,716		788,329
United States — 58.6%
Adobe, Inc. (a)		26,425		14,984,561
Agilent Technologies, Inc.		48,419		7,730,093
Alphabet, Inc. Class A (a)		13,695		39,674,963
Amazon.com, Inc. (a)		956		3,187,629
Analog Devices, Inc.		68,443		12,030,226
Avantor, Inc. (a)		153,193		6,455,553
Boston Scientific Corp. (a)		43,694		1,856,121
Castle Biosciences, Inc. (a)		10,611		454,894
Charles River Laboratories International, Inc. (a)		4,915		1,851,874
Danaher Corp.		4,172		1,372,630
Dun & Bradstreet Holdings, Inc. (a)		26,164		536,100
Equifax, Inc.		27,327		8,001,072
Fidelity National Information Services, Inc.		30,493		3,328,311
Illumina, Inc. (a)		6,797		2,585,851
Intuit, Inc.		35,460		22,808,581
Intuitive Surgical, Inc. (a)		5,253		1,887,403
IQVIA Holdings, Inc. (a)		9,986		2,817,450
Marriott International, Inc. Class A (a)		3,264		539,343
Marvell Technology, Inc.		23,408		2,047,966
Meta Platforms, Inc. Class A (a)		53,470		17,984,634
Microsoft Corp.		12,756		4,290,098
Natera, Inc. (a)		11,058		1,032,707
NVIDIA Corp.		6,652		1,956,420
Omnicell, Inc. (a)		8,888		1,603,751
PayPal Holdings, Inc. (a)		20,128		3,795,738
Phathom Pharmaceuticals, Inc. (a)		29,305		576,429
Qualtrics International Inc (a)		40,913		1,448,320
S&P Global, Inc.		39,630		18,702,586
Splunk, Inc. (a)		10,750		1,243,990
United Parcel Service, Inc. Class B		37,960		8,136,346
Veracyte, Inc. (a)		43,225		1,780,870
Visa, Inc. Class A		20,074		4,350,237
The Walt Disney Co. (a)		23,180		3,590,350
				204,643,097
TOTAL COMMON STOCK (Cost $150,316,163)				351,847,259
PREFERRED STOCK — 0.0%
India — 0.0%
Zee Entertainment Enterprises Ltd.
6.000%		573,050		16,035

MassMutual Global Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
TOTAL PREFERRED STOCK (Cost $22,479)			$	16,035
TOTAL EQUITIES (Cost $150,338,642)				351,863,294
MUTUAL FUNDS — 0.3%
United States — 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		1,198,502		1,198,502
TOTAL MUTUAL FUNDS (Cost $1,198,502)				1,198,502
TOTAL LONG-TERM INVESTMENTS (Cost $151,537,144)				353,061,796
	Principal Amount
SHORT-TERM INVESTMENTS — 3.0%
Repurchase Agreement — 3.0%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (e)	$	10,556,153		10,556,153
TOTAL SHORT-TERM INVESTMENTS (Cost $10,556,153)				10,556,153
TOTAL INVESTMENTS — 104.0% (Cost $162,093,297) (f)				363,617,949
Other Assets/(Liabilities) — (4.0)%				(14,048,172)
NET ASSETS — 100.0%			$	349,569,777

Abbreviation Legend

ADR American Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $1,205,543 or 0.34% of net assets.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $1,141,317 or 0.33% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. (Note 2).

(d) Represents investment of security lending cash collateral. (Note 2).

(e) Maturity value of $10,556,153. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $10,767,366.

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

MassMutual International Equity Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.8%
COMMON STOCK — 97.8%
Australia — 0.7%
Lendlease Corp Ltd.		29,900	$	232,631
Macquarie Group Ltd.		3,300		493,305
Santos Ltd.		84,700		389,386
				1,115,322
Austria — 0.1%
ams AG (a)		6,966		126,014
Belgium — 0.7%
Anheuser-Busch InBev SA		7,500		454,075
Groupe Bruxelles Lambert SA		2,600		290,561
KBC Group NV		4,100		352,148
				1,096,784
Canada — 5.7%
The Bank of Nova Scotia		33,331		2,359,612
Canadian National Railway Co.		29,716		3,650,162
Intact Financial Corp.		23,755		3,087,708
				9,097,482
Cayman Islands — 0.6%
CK Asset Holdings Ltd.		59,500		375,218
CK Hutchison Holdings Ltd.		83,700		540,118
				915,336
Finland — 1.6%
Kone OYJ Class B		29,141		2,072,238
Nokia OYJ (a)		73,100		459,221
				2,531,459
France — 11.7%
Amundi SA (b)		2,792		230,475
AXA SA		84,019		2,503,940
Capgemini SE		12,342		3,014,536
Dassault Aviation SA		1,600		172,886
Engie SA		54,600		808,468
LVMH Moet Hennessy Louis Vuitton SE		1,535		1,266,683
Rexel SA		12,500		254,107
Sanofi		6,300		632,984
Schneider Electric SE		15,069		2,954,262
TotalEnergies SE		41,515		2,108,578
Ubisoft Entertainment SA (a)		3,600		176,557
Veolia Environnement SA		21,792		799,385

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Vinci SA		35,753	$	3,788,166
				18,711,027
Germany — 4.2%
Allianz SE Registered		1,560		368,814
BASF SE		7,600		534,549
Bayer AG Registered		2,400		128,483
Deutsche Boerse AG		3,080		515,962
Deutsche Post AG Registered		7,700		495,624
Fresenius SE & Co. KGaA		11,800		475,769
HeidelbergCement AG		7,400		501,361
Infineon Technologies AG		10,600		491,512
Merck KGaA		5,371		1,388,582
SAP SE		4,700		671,259
Siemens AG Registered		3,760		653,573
Siemens Energy AG (a)		13,934		356,757
Talanx AG (a)		3,400		164,765
				6,747,010
Hong Kong — 2.3%
AIA Group Ltd.		368,576		3,715,769
Ireland — 3.8%
AIB Group PLC (a)		98,000		238,807
DCC PLC		5,200		425,224
Linde PLC		670		232,108
Linde PLC (a)		13,164		4,585,710
Ryanair Holdings PLC Sponsored ADR (a)		600		61,398
Smurfit Kappa Group PLC		10,900		602,571
				6,145,818
Israel — 0.2%
Check Point Software Technologies Ltd. (a)		3,390		395,138
Italy — 0.1%
Prysmian SpA		4,400		165,784
Japan — 15.9%
Astellas Pharma, Inc.		288,330		4,689,352
Chugai Pharmaceutical Co. Ltd.		38,580		1,251,298
Denka Co. Ltd.		8,300		271,340
FANUC Corp.		1,600		339,177
Fujitsu Ltd.		2,200		376,943
Hitachi Ltd.		9,200		498,336
Japan Airlines Co. Ltd. (a)		9,000		171,835
Kao Corp.		65,620		3,433,797
KDDI Corp.		128,900		3,767,603
Kirin Holdings Co. Ltd. (c)		116,990		1,876,202
Kyocera Corp.		6,700		418,666
Nintendo Co. Ltd.		600		279,863
Olympus Corp.		16,900		388,180
ORIX Corp.		30,900		630,669
Rakuten Group, Inc. (a) (c)		46,800		469,545
SBI Holdings, Inc.		3,700		100,851
Sega Sammy Holdings, Inc.		14,800		232,512
Seven & i Holdings Co. Ltd.		14,500		637,377
Shiseido Co. Ltd.		42,310		2,359,434

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Sony Group Corp.		10,000	$	1,264,093
Square Enix Holdings Co. Ltd.		5,100		261,608
Sumitomo Mitsui Financial Group, Inc.		15,200		519,556
Toshiba Corp.		13,300		546,936
Toyota Industries Corp.		7,700		615,255
				25,400,428
Luxembourg — 0.3%
ArcelorMittal SA		12,600		405,284
Netherlands — 5.9%
AerCap Holdings NV (a)		1,225		80,140
Airbus SE (a)		500		63,857
ASML Holding NV		490		390,713
CNH Industrial NV		7,400		142,122
EXOR NV		1,700		151,318
Heineken Holding NV		4,800		443,163
Heineken NV		38,462		4,324,800
Koninklijke Philips NV		96,298		3,579,338
NXP Semiconductor NV		1,400		318,892
				9,494,343
Norway — 0.3%
DNB Bank ASA		4,472		102,455
Mowi ASA		13,200		312,399
				414,854
Republic of Korea — 0.3%
Samsung Electronics Co. Ltd.		7,600		498,941
Singapore — 0.4%
DBS Group Holdings, Ltd.		23,200		561,701
Spain — 3.5%
Iberdrola SA		223,961		2,624,481
Industria de Diseno Textil SA		90,989		2,948,808
				5,573,289
Sweden — 2.7%
Assa Abloy AB Class B		107,543		3,266,934
Essity AB Class B		8,000		261,043
Investor AB Class B		13,300		332,612
Lundin Energy AB		5,341		191,541
Volvo AB Class B		14,700		338,918
				4,391,048
Switzerland — 10.4%
ABB Ltd. Registered		14,100		537,228
Alcon, Inc.		1,400		123,347
Cie Financiere Richemont SA Registered		2,800		418,105
Nestle SA Registered		35,360		4,943,039
Novartis AG Registered		51,105		4,487,852
Roche Holding AG		12,833		5,319,732

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
UBS Group AG Registered		48,300	$	866,893
				16,696,196
United Kingdom — 26.4%
Ashtead Group PLC		2,700		216,371
AstraZeneca PLC		23,970		2,793,108
Aviva PLC		63,200		350,969
BAE Systems PLC		484,468		3,609,919
Barratt Developments PLC		20,600		208,097
BHP Group PLC		3,900		116,230
BHP Group PLC ADR (c)		2,300		137,471
BP PLC		63,100		280,714
The British Land Co. PLC		21,156		151,698
Bunzl PLC		7,300		284,665
Compass Group PLC (a)		119,453		2,660,967
Diageo PLC		67,995		3,706,606
Entain PLC (a)		10,300		233,860
Experian PLC		61,073		2,995,909
GlaxoSmithKline PLC		18,900		410,964
Glencore PLC		50,800		258,453
Imperial Brands PLC		10,000		218,674
Inchcape PLC		17,456		214,596
Informa PLC (a)		36,100		251,356
Kingfisher PLC		99,300		454,007
Liberty Global PLC Class C (a)		14,900		418,541
Lloyds Banking Group PLC		766,000		493,827
Melrose Industries PLC		112,590		244,305
National Grid PLC		262,227		3,783,541
Persimmon PLC		10,400		401,125
Prudential PLC		95,458		1,646,083
Reckitt Benckiser Group PLC		55,620		4,771,503
Royal Dutch Shell PLC Class A		107,382		2,356,168
Smith & Nephew PLC		235,238		4,117,466
Tesco PLC		136,000		533,207
Unilever PLC		11,400		610,748
Unilever PLC		64,171		3,436,393
				42,367,541
TOTAL COMMON STOCK (Cost $140,259,192)				156,566,568
TOTAL EQUITIES (Cost $140,259,192)				156,566,568
MUTUAL FUNDS — 1.2%
United States — 1.2%
State Street Navigator Securities Lending Government Money Market Portfolio (d)		1,943,500		1,943,500
TOTAL MUTUAL FUNDS (Cost $1,943,500)				1,943,500
TOTAL LONG-TERM INVESTMENTS (Cost $142,202,692)				158,510,068

MassMutual International Equity Fund —  Portfolio of Investments (Continued)

	Principal Amount		Value
SHORT-TERM INVESTMENTS — 2.2%
Repurchase Agreement — 2.2%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (e)	$	3,578,229	$	3,578,229
TOTAL SHORT-TERM INVESTMENTS (Cost $3,578,229)				3,578,229
TOTAL INVESTMENTS — 101.2% (Cost $145,780,921) (f)				162,088,297
Other Assets/(Liabilities) — (1.2)%				(1,899,377)
NET ASSETS — 100.0%			$	160,188,920

Abbreviation Legend

ADR American Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $230,475 or 0.14% of net assets.

(c) Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2021, was $2,442,059 or 1.52% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $623,502 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. (Note 2).

(e) Maturity value of $3,578,229. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $3,649,890.

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

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments

December 31, 2021 (Unaudited)

	Number of Shares		Value
EQUITIES — 97.4%
COMMON STOCK — 97.0%
Brazil — 3.4%
Ambev SA		299,363	$	843,302
Americanas SA (a)		96,134		544,543
Lojas Renner SA		121,340		531,251
Vale SA Sponsored ADR		244,433		3,426,950
				5,346,046
Cayman Islands — 21.7%
Alibaba Group Holding Ltd. (a)		19,500		291,953
BeiGene Ltd. ADR (a)		7,729		2,094,018
Brii Biosciences Ltd. (a)		132,500		560,410
Budweiser Brewing Co. APAC Ltd. (b)		189,700		497,552
Grab Holdings Ltd. (a)		154,698		1,102,997
Grab Holdings, Ltd. (Acquired 6/18/19, Cost $360,959) (a) (c) (d)		360,959		2,573,638
Huazhu Group Ltd. ADR (a)		95,801		3,577,209
Innovent Biologics, Inc. (a) (b)		35,500		219,916
Keymed Biosciences, Inc. (a) (b)		12,650		55,976
Keymed Biosciences, Inc. (Acquired 7/02/21, Cost $124,795) (a) (b) (c) (d)		18,000		75,668
Meituan Class B (a) (b)		63,300		1,829,996
NetEase, Inc. ADR		43,722		4,450,025
New Horizon Health Ltd. (a) (b)		51,000		143,916
NU Holdings Ltd/Cayman Islands (a)		71,900		674,422
OneConnect Financial Technology Co. Ltd. (a)		24,075		59,465
Pagseguro Digital Ltd. Class A (a)		44,236		1,159,868
Pinduoduo, Inc. ADR (a)		37,379		2,179,196
Sunny Optical Technology Group Co. Ltd.		17,800		562,991
Tencent Holdings Ltd.		83,490		4,897,793
Wuxi Biologics Cayman, Inc. (a) (b)		243,000		2,888,394
Zai Lab Ltd. ADR (a)		21,940		1,378,929
ZTO Express Cayman, Inc.		7,720		216,570
ZTO Express Cayman, Inc. ADR		87,882		2,480,030
				33,970,932
China — 0.3%
Contemporary Amperex Technology Co. Ltd. Class A		1,700		156,787
Microtech Medical Co., Ltd. (Acquired 10/12/21, Cost $106,879) (a) (c) (d)		27,000		82,562
MicroTech Medical Hangzhou Co. Ltd. (a) (b)		8,300		26,716
Remegen Co. Ltd. Class H (a) (b)		19,231		192,137
				458,202
Cyprus — 0.3%
TCS Group Holding PLC		5,947		501,451
Denmark — 0.1%
Carlsberg A/S Class B		1,042		178,990

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
Egypt — 0.6%
Commercial International Bank Egypt SAE (a)		261,453	$	881,884
France — 4.1%
Kering SA		3,746		3,005,766
L'Oreal SA		174		82,483
LVMH Moet Hennessy Louis Vuitton SE		116		95,723
Pernod Ricard SA		13,682		3,291,857
				6,475,829
Hong Kong — 4.3%
AIA Group Ltd.		647,400		6,526,711
Hong Kong Exchanges & Clearing Ltd.		2,900		169,503
				6,696,214
India — 16.5%
Godrej Properties Ltd. (a)		13,701		344,994
HDFC Life Insurance Co. Ltd. (b)		51,643		452,572
Housing Development Finance Corp. Ltd.		237,078		8,214,103
Infosys Ltd.		119,249		3,034,913
Kotak Mahindra Bank Ltd.		241,123		5,827,919
Macrotech Developers Ltd. (a) (b)		19,715		328,142
Oberoi Realty Ltd. (a)		62,022		717,710
Tata Consultancy Services Ltd.		107,445		5,406,576
Zee Entertainment Enterprises Ltd.		353,109		1,514,492
				25,841,421
Indonesia — 1.0%
Bank Central Asia Tbk PT		2,887,000		1,463,025
Semen Indonesia Persero Tbk PT		76,300		38,759
				1,501,784
Italy — 1.6%
Moncler SpA		14,176		1,024,580
PRADA SpA		235,800		1,510,051
				2,534,631
Luxembourg — 0.4%
InPost SA (a)		56,631		684,076
Mexico — 6.1%
Alsea SAB de CV (a)		63,334		117,726
America Movil SAB de CV Sponsored ADR		7,767		163,961
Fomento Economico Mexicano SAB de CV		332,654		2,591,145
Grupo Mexico SAB de CV Series B		952,516		4,152,357
Wal-Mart de Mexico SAB de CV		660,093		2,457,194
				9,482,383
Netherlands — 3.0%
Yandex NV Class A (a)		77,989		4,718,335
Philippines — 2.1%
Ayala Land, Inc.		1,543,700		1,111,445
SM Investments Corp.		90,290		1,670,138

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
SM Prime Holdings, Inc.		787,757	$	523,863
				3,305,446
Republic of Korea — 5.6%
LG Chem Ltd.		2,040		1,052,535
NAVER Corp.		2,791		886,054
Samsung Biologics Co. Ltd. (a) (b)		3,626		2,750,953
Samsung Electronics Co. Ltd.		60,728		3,986,802
				8,676,344
Russia — 5.7%
Novatek PJSC Sponsored GDR Registered		28,473		6,647,091
Polyus PJSC (a)		4,713		820,361
Polyus PJSC GDR (d)		243		21,445
Polyus PJSC GDR (b) (d)		4,390		387,418
Sberbank of Russia PJSC		249,425		971,662
				8,847,977
South Africa — 0.6%
FirstRand Ltd.		243,692		929,726
Switzerland — 3.8%
Cie Financiere Richemont SA Registered		39,878		5,954,708
Taiwan — 10.5%
MediaTek, Inc.		46,000		1,966,712
Taiwan Semiconductor Manufacturing Co. Ltd.		654,000		14,481,363
				16,448,075
Turkey — 0.3%
Akbank TAS		829,349		442,952
United Kingdom — 1.4%
Diageo PLC		3,413		186,052
Oxford Nanopore Technologies (a)		51,145		483,155
Prudential PLC		41,650		710,321
Prudential PLC		44,197		762,136
				2,141,664
United States — 3.6%
MercadoLibre, Inc. (a)		147		198,215
NIKE, Inc. Class B		1,034		172,337
Yum China Holdings, Inc.		104,368		5,201,701
				5,572,253
TOTAL COMMON STOCK (Cost $135,280,370)				151,591,323
PREFERRED STOCK — 0.4%
Brazil — 0.4%
Lojas Americanas SA 0.640%
		534,072		564,249

MassMutual Strategic Emerging Markets Fund —  Portfolio of Investments (Continued)

	Number of Shares		Value
India — 0.0%
Zee Entertainment Enterprises Ltd.
6.000%		742,906	$	20,788
TOTAL PREFERRED STOCK (Cost $1,314,402)				585,037
TOTAL EQUITIES (Cost $136,594,772)				152,176,360
WARRANTS — 0.1%
Switzerland — 0.1%
Cie Financiere Richemont SA, Expires 11/22/23, Strike 67.00 (a)		68,286		74,941
TOTAL WARRANTS (Cost $0)				74,941
TOTAL LONG-TERM INVESTMENTS (Cost $136,594,772)				152,251,301
	Principal Amount
SHORT-TERM INVESTMENTS — 2.3%
Repurchase Agreement — 2.3%
Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/21, 0.000%, due 1/03/22 (e)	$	3,602,020		3,602,020
TOTAL SHORT-TERM INVESTMENTS (Cost $3,602,020)				3,602,020
TOTAL INVESTMENTS — 99.8% (Cost $140,196,792) (f)				155,853,321
Other Assets/(Liabilities) — 0.2%				372,749
NET ASSETS — 100.0%			$	156,226,070

Abbreviation Legend

ADR American Depositary Receipt

GDR Global Depositary Receipt

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2021, the aggregate market value of these securities amounted to $9,849,356 or 6.30% of net assets.

(c) Restricted security. Certain securities are restricted as to resale. At December 31, 2021, these securities amounted to a value of $2,731,868 or 1.75% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.

(d) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2021, these securities amounted to a value of $3,140,731 or 2.01% of net assets.

(e) Maturity value of $3,602,020. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 7/31/28, and an aggregate market value, including accrued interest, of $3,674,145.

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

Notes to Portfolio of Investments (Unaudited)

1. The Funds

MassMutual Premier 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 August 1, 1994, as amended and restated as of November 21, 2011, as it may be further amended from time to time. The Trust consists of 14 series, including the following 13 series listed below (each individually referred to as a "Fund" or collectively as the "Funds"):

MassMutual Short-Duration Bond Fund (“Short-Duration Bond Fund”)

MassMutual Inflation-Protected and Income Fund (“Inflation-Protected and Income Fund”)

MassMutual Core Bond Fund (“Core Bond Fund”)

MassMutual Diversified Bond Fund (“Diversified Bond Fund”)

MassMutual High Yield Fund (“High Yield Fund”)

MassMutual Balanced Fund (“Balanced Fund”)

MassMutual Disciplined Value Fund (“Disciplined Value Fund”)

MassMutual Main Street Fund (“Main Street Fund”)

MassMutual Disciplined Growth Fund (“Disciplined Growth Fund”)

MassMutual Small Cap Opportunities Fund (“Small Cap Opportunities Fund”)

MassMutual Global Fund (“Global Fund”)

MassMutual International Equity Fund (“International Equity Fund”)

MassMutual Strategic Emerging Markets Fund (“Strategic Emerging Markets Fund”)

2. Significant Accounting Policies

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

Investment Valuation

The net asset value of each Fund’s shares is determined once daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), on each day the NYSE is open for trading (a “business day”). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes and will instead fair value securities in accordance with procedures approved annually by the Board of Trustees ("Trustees"), and under the general oversight of the Trustees. On holidays and other days when the NYSE is closed, each Fund’s net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund’s assets may still be affected on such days to the extent that a Fund holds foreign securities that trade on days that foreign securities markets are open.

Notes to Portfolio of Investments (Unaudited) (Continued)

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

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

Investments for which market quotations are not available or for which a pricing service or vendor does not provide a value, or for which such market quotations or values are considered by the investment adviser or subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event) are stated at fair valuations determined in good faith by the Funds' Valuation Committee¹ in accordance with procedures approved annually by the Trustees, and under the general oversight of the Trustees. The Funds' Valuation Committee employs various methods to determine fair valuations including a regular review of significant inputs and assumptions and review of any related market activity. The Funds' Valuation Committee reports to the Trustees at its regularly scheduled meetings. It is possible that fair value prices will be used by the Funds to a significant extent. The value determined for an investment using the Funds' fair value procedures may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.

¹ The voting members of the Valuation Committee consist of the President, Treasurer, Assistant Treasurers, Vice Presidents (except for the CCO, Secretary, and Assistant Secretaries) of the Trust, as well as such other members as the Trustees may from time to time designate. The non-voting members of the Valuation Committee consist of the CCO, Secretary, and Assistant Secretaries. The Valuation Committee reviews and determines the fair valuation of portfolio securities and the Funds’ pricing procedures in general.

Notes to Portfolio of Investments (Unaudited) (Continued)

The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.

For investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and any other investments fair valued using significant unobservable inputs, as described below, the fair valuation approaches used by third party service providers and/or the Funds’ subadvisers utilize one or a combination of, but not limited to, the following inputs:

Market approach: (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers.

Income approach: (i) future cash flows discounted to present value and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts, and/or default rates.

Cost approach: (i) audited or unaudited financial statements, investor communications, and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company's interests and merger or acquisition activity in companies comparable to the Private Company.

Investments in series of preferred stock issued by Private Companies are typically valued utilizing Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as the current value method (“CVM”), an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”), or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The CVM allocates value among the various parts of a company’s capital structure assuming that the value of convertible preferred stock is represented by the most favorable claim the preferred stockholders have on the enterprise value as of the valuation date. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.

Notes to Portfolio of Investments (Unaudited) (Continued)

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.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

Level 1 – quoted prices (unadjusted) in active markets for identical investments that the Funds can access at the measurement date

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

Notes to Portfolio of Investments (Unaudited) (Continued)

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.

In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.

The Disciplined Value Fund, Disciplined Growth Fund, and Small Cap Opportunities Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of December 31, 2021. For each Fund noted in the preceding sentence, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

Notes to Portfolio of Investments (Unaudited) (Continued)

The following is the aggregate value by input level, as of December 31, 2021, for the remaining Funds' investments:

Short-Duration Bond Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Corporate Debt	$	—		$	746,129,262		$	—	$	746,129,262
Municipal Obligations		—			1,344,547			—		1,344,547
Non-U.S. Government Agency Obligations		—			640,708,458			—		640,708,458
U.S. Government Agency Obligations and Instrumentalities		—			22,534,919			—		22,534,919
Purchased Options		—			1,648,654			—		1,648,654
Mutual Funds		1,694,178			—			—		1,694,178
Short-Term Investments		—			12,999,078			—		12,999,078
Total Investments	$	1,694,178		$	1,425,364,918		$	—	$	1,427,059,096
Asset Derivatives
Futures Contracts	$	130,564		$	—		$	—	$	130,564
Swap Agreements		—			50,843			—		50,843
Total	$	130,564		$	50,843		$	—	$	181,407
Liability Derivatives
Futures Contracts	$	(547,206	)	$	—		$	—	$	(547,206	)
Swap Agreements		—			(166,748	)		—		(166,748	)
Total	$	(547,206	)	$	(166,748	)	$	—	$	(713,954	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Inflation-Protected and Income Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Non-U.S. Government Agency Obligations	$	—		$	183,856,280	$	—	$	183,856,280
U.S. Government Agency Obligations and Instrumentalities		—			42,095,635		—		42,095,635
U.S. Treasury Obligations		—			99,437,477		—		99,437,477
Purchased Options		—			844,530		—		844,530
Short-Term Investments		—			57,861,381		—		57,861,381
Total Investments	$	—		$	384,095,303	$	—	$	384,095,303
Asset Derivatives
Futures Contracts	$	34,955		$	—	$	—	$	34,955
Swap Agreements		—			3,641,882		—		3,641,882
Total	$	34,955		$	3,641,882	$	—	$	3,676,837
Liability Derivatives
Futures Contracts	$	(84,169	)	$	—	$	—	$	(84,169	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Core Bond Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Corporate Debt	$	—		$	394,934,252	$	—	$	394,934,252
Non-U.S. Government Agency Obligations		—			301,958,016		—		301,958,016
Sovereign Debt Obligations		—			8,938,234		—		8,938,234
U.S. Government Agency Obligations and Instrumentalities		—			201,744,532		—		201,744,532
U.S. Treasury Obligations		—			165,636,940		—		165,636,940
Purchased Options		—			2,738,367		—		2,738,367
Mutual Funds		13,722,263			—		—		13,722,263
Short-Term Investments		—			120,576,174		—		120,576,174
Total Investments	$	13,722,263		$	1,196,526,515	$	—	$	1,210,248,778
Asset Derivatives
Futures Contracts	$	675,757		$	—	$	—	$	675,757
Liability Derivatives
Futures Contracts	$	(272,113	)	$	—	$	—	$	(272,113	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Diversified Bond Fund

Asset Investments	Level 1			Level 2			Level 3		Total
Preferred Stock	$	1,638,968		$	—		$	—	$	1,638,968
Corporate Debt		—			101,446,968			—		101,446,968
Non-U.S. Government Agency Obligations		—			61,631,159			—		61,631,159
Sovereign Debt Obligations		—			1,737,695			—		1,737,695
U.S. Government Agency Obligations and Instrumentalities		—			28,545,391			—		28,545,391
U.S. Treasury Obligations		—			5,360,244			—		5,360,244
Purchased Options		—			550,398			—		550,398
Warrants		—			—			4,292		4,292
Mutual Funds		3,063,822			—			—		3,063,822
Short-Term Investments		—			22,193,749			—		22,193,749
Total Investments	$	4,702,790		$	221,465,604		$	4,292	$	226,172,686
Asset Derivatives
Forward Contracts	$	—		$	75,047		$	—	$	75,047
Futures Contracts		151,720			—			—		151,720
Total	$	151,720		$	75,047		$	—	$	226,767
Liability Derivatives
Forward Contracts	$	—		$	(123,722	)	$	—	$	(123,722	)
Futures Contracts		(83,434	)		—			—		(83,434	)
Written Options		—			(11,511	)		—		(11,511	)
Total	$	(83,434	)	$	(135,233	)	$	—	$	(218,667	)

Notes to Portfolio of Investments (Unaudited) (Continued)

High Yield Fund

Asset Investments	Level 1		Level 2		Level 3			Total
Common Stock	$	2,733,579	$	542,668	$	—	+	$	3,276,247
Bank Loans (Less Unfunded Loan Commitments)		—		44,722,537		—			44,722,537
Corporate Debt		—		498,362,867		—			498,362,867
Mutual Funds		7,478,300		—		—			7,478,300
Short-Term Investments		—		27,441,143		—			27,441,143
Unfunded Loan Commitments**		—		429		—			429
Total Investments	$	10,211,879	$	571,069,644	$	—		$	581,281,523

Notes to Portfolio of Investments (Unaudited) (Continued)

Balanced Fund

Asset Investments	Level 1			Level 2		Level 3		Total
Common Stock	$	102,585,638		$	—	$	—	$	102,585,638
Corporate Debt		—			23,270,647		—		23,270,647
Non-U.S. Government Agency Obligations		—			4,344,457		—		4,344,457
U.S. Government Agency Obligations and Instrumentalities		—			12,857,008		—		12,857,008
U.S. Treasury Obligations		—			20,266,868		—		20,266,868
Mutual Funds		4,194,543			—		—		4,194,543
Short-Term Investments		—			4,911,494		—		4,911,494
Total Investments	$	106,780,181		$	65,650,474	$	—	$	172,430,655
Asset Derivatives
Futures Contracts	$	492		$	—	$	—	$	492
Liability Derivatives
Futures Contracts	$	(42,333	)	$	—	$	—	$	(42,333	)

Notes to Portfolio of Investments (Unaudited) (Continued)

Main Street Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock	$	126,297,409	$	284,482	$	—	$	126,581,891
Mutual Funds		130,435		—		—		130,435
Short-Term Investments		—		297,880		—		297,880
Total Investments	$	126,427,844	$	582,362	$	—	$	127,010,206

Notes to Portfolio of Investments (Unaudited) (Continued)

Global Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Cayman Islands	$	15,632,134	$	1,205,543	$	—	$	16,837,677
Denmark		—		794,244		—		794,244
France		—		30,123,761		—		30,123,761
Germany		—		8,956,876		—		8,956,876
India		6,143,806		9,665,358		—		15,809,164
Italy		—		1,384,539		—		1,384,539
Japan		—		42,414,153		—		42,414,153
Netherlands		558,238		13,064,993		—		13,623,231
Spain		—		719,985		—		719,985
Sweden		—		12,290,330		—		12,290,330
Switzerland		—		3,461,873		—		3,461,873
United Kingdom		—		788,329		—		788,329
United States		204,643,097		—		—		204,643,097
Preferred Stock
India		16,035		—		—		16,035
Mutual Funds		1,198,502		—		—		1,198,502
Short-Term Investments		—		10,556,153		—		10,556,153
Total Investments	$	228,191,812	$	135,426,137	$	—	$	363,617,949

Notes to Portfolio of Investments (Unaudited) (Continued)

International Equity Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Australia	$	—	$	1,115,322	$	—	$	1,115,322
Austria		—		126,014		—		126,014
Belgium		—		1,096,784		—		1,096,784
Canada		9,097,482		—		—		9,097,482
Cayman Islands		—		915,336		—		915,336
Finland		—		2,531,459		—		2,531,459
France		—		18,711,027		—		18,711,027
Germany		—		6,747,010		—		6,747,010
Hong Kong		—		3,715,769		—		3,715,769
Ireland		293,506		5,852,312		—		6,145,818
Israel		395,138		—		—		395,138
Italy		—		165,784		—		165,784
Japan		—		25,400,428		—		25,400,428
Luxembourg		—		405,284		—		405,284
Netherlands		399,032		9,095,311		—		9,494,343
Norway		—		414,854		—		414,854
Republic of Korea		—		498,941		—		498,941
Singapore		—		561,701		—		561,701
Spain		—		5,573,289		—		5,573,289
Sweden		—		4,391,048		—		4,391,048
Switzerland		—		16,696,196		—		16,696,196
United Kingdom		556,012		41,811,529		—		42,367,541
Mutual Funds		1,943,500		—		—		1,943,500
Short-Term Investments		—		3,578,229		—		3,578,229
Total Investments	$	12,684,670	$	149,403,627	$	—	$	162,088,297

Notes to Portfolio of Investments (Unaudited) (Continued)

Strategic Emerging Markets Fund

Asset Investments	Level 1		Level 2		Level 3		Total
Common Stock*
Brazil	$	3,426,950	$	1,919,096	$	—	$	5,346,046
Cayman Islands		19,156,159		14,814,773		—		33,970,932
China		—		458,202		—		458,202
Cyprus		501,451		—		—		501,451
Denmark		—		178,990		—		178,990
Egypt		—		881,884		—		881,884
France		—		6,475,829		—		6,475,829
Hong Kong		—		6,696,214		—		6,696,214
India		—		25,841,421		—		25,841,421
Indonesia		—		1,501,784		—		1,501,784
Italy		—		2,534,631		—		2,534,631
Luxembourg		—		684,076		—		684,076
Mexico		9,482,383		—		—		9,482,383
Netherlands		4,718,335		—		—		4,718,335
Philippines		—		3,305,446		—		3,305,446
Republic of Korea		—		8,676,344		—		8,676,344
Russia		—		8,847,977		—		8,847,977
South Africa		—		929,726		—		929,726
Switzerland		—		5,954,708		—		5,954,708
Taiwan		—		16,448,075		—		16,448,075
Turkey		—		442,952		—		442,952
United Kingdom		—		2,141,664		—		2,141,664
United States		5,572,253		—		—		5,572,253
Preferred Stock*
Brazil		—		564,249		—		564,249
India		20,788		—		—		20,788
Warrants		74,941		—		—		74,941
Short-Term Investments		—		3,602,020		—		3,602,020
Total Investments	$	42,953,260	$	112,900,061	$	—	$	155,853,321

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments after the close of trading in their respective foreign markets, as applicable.

** Unfunded loan commitments are valued at the unrealized appreciation (depreciation) on the commitment.

+ Represents a security at $0 value as of December 31, 2021.

Notes to Portfolio of Investments (Unaudited) (Continued)

Derivative Instruments

Derivatives are financial instruments whose values are based on the values of one or more indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. Losses from derivatives can be substantially greater than the derivatives' original cost and can sometimes be unlimited. A Fund may not be able to close out a derivative transaction at a favorable time or price.

Please refer to the Funds' most recent Annual/Semiannual reports and prospectus(es) and Statement(s) of Additional Information which can be found on the Securities and Exchange Commission's (“SEC”) EDGAR database on its website at http://www.sec.gov for more information regarding the derivatives and other investments held by the Fund(s).

Securities Lending

Each Fund may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds’ securities lending activities are governed by a Securities Lending Agency Agreement (“Lending Agreement”) between each Fund and the lending agent (“Agent”). The Lending Agreement authorizes the Agent to lend portfolio securities held by a Fund to approved borrowers (each, a “Borrower”).

Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash (U.S. currency) and/or securities (U.S. Treasury and Agency obligations) adjusted daily to have value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the Borrower of the securities fail financially. Pursuant to the Lending Agreement, the Agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At December 31, 2021, 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 Global Fund invests a significant amount of its assets in foreign securities and each of the International Equity Fund and Strategic Emerging Markets Fund invests substantially all of its assets in foreign securities. The other Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.

Federal Income Tax

It is each Fund's intent to continue to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for federal income tax.

Dividends and Distributions to Shareholders

Dividends from net investment income 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, 2021, the aggregate cost of investments and the unrealized appreciation (depreciation) in the value of all investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:

	Federal Income Tax Cost		Tax Basis Unrealized Appreciation		Tax Basis Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
Short-Duration Bond Fund	$	1,433,564,719	$	12,504,960	$	(19,010,583	)	$	(6,505,623	)
Inflation-Protected and Income Fund		381,246,444		4,698,939		(1,850,080	)		2,848,859
Core Bond Fund		1,194,057,716		25,966,477		(9,775,415	)		16,191,062
Diversified Bond Fund		222,639,362		5,670,482		(2,137,158	)		3,533,324
High Yield Fund		563,524,212		23,030,408		(5,273,097	)		17,757,311
Balanced Fund		157,580,954		17,090,276		(2,240,575	)		14,849,701
Disciplined Value Fund		87,899,386		15,028,173		(2,305,854	)		12,722,319
Main Street Fund		92,036,776		36,591,529		(1,618,099	)		34,973,430
Disciplined Growth Fund		200,272,241		74,353,806		(3,327,203	)		71,026,603
Small Cap Opportunities Fund		277,298,688		98,765,362		(12,959,910	)		85,805,452
Global Fund		162,093,297		205,104,890		(3,580,238	)		201,524,652
International Equity Fund		145,780,921		22,260,962		(5,953,586	)		16,307,376
Strategic Emerging Markets Fund		140,196,792		27,821,216		(12,164,687	)		15,656,529

4. New Accounting Pronouncements

In January 2021, FASB issued Accounting Standards Update 2021-01 — Reference Rate Reform (Topic 848) — Scope (“ASU 2021-01”) as an update to Accounting Standards Update 2020-04 — Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) in order to make certain clarifications. ASU 2020-04 and ASU 2021-01 provide optional temporary financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the London Interbank Offered Rate (“LIBOR”) and other interbank-offered based reference rates. The temporary relief provided by ASU 2020-04 and ASU 2021-01 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management does not believe the impact of adopting ASU 2020-04 and ASU 2021-01 will have a material impact on the financial statements.

5. Legal Proceedings

On December 7, 2010, the Trust was named as a defendant and putative member of the proposed defendant class of shareholders named in an adversary proceeding brought by The Official Committee of Unsecured Creditors of Tribune Company (the “Official Committee”) in the U.S. Bankruptcy Court for the District of Delaware, in connection with Tribune Company’s Chapter 11 bankruptcy proceeding (In re Tribune Company). The proceeding relates to a leveraged buyout (“LBO”) transaction by which Tribune Company converted to a privately-held company in 2007, and the putative defendant class is comprised of beneficial owners of shares of Tribune Company who received proceeds (the “Proceeds”) of the LBO. The Official Committee seeks to recover payments of those Proceeds. On April 5, 2012, the adversary proceeding was transferred to the Southern District of New York for consolidated pretrial proceedings. The action is now being prosecuted by the litigation trustee (“Trustee”) for the Tribune Litigation Trust. This case has been dismissed by the district court and dismissal was affirmed by the Second Circuit Court of Appeals. The Trustee has filed a petition for a writ of certiorari with the United States Supreme Court, which was recently denied.

Notes to Portfolio of Investments (Unaudited) (Continued)

In addition, on June 2, 2011, the Disciplined Value Fund and Small Cap Opportunities Fund, were named as defendants in a closely related, parallel adversary proceeding brought in connection with the Tribune Company’s LBO by Deutsche Bank Trust Company Americas, in its capacity as successor indenture trustee for a certain series of Senior Notes, Law Debenture Trust Company of New York, in its capacity as successor indenture trustee for a certain series of Senior Notes, and Wilmington Trust Company, in its capacity as successor indenture trustee for the PHONES Notes (together, the “Plaintiffs”) in the United States District Court for the District of Massachusetts. The Plaintiffs also seek to recover payments of the Proceeds. On December 20, 2011, this action was transferred to the Southern District of New York for consolidated pretrial proceedings. This case also has been dismissed. The district court’s dismissal of the case was affirmed by the Second Circuit Court of Appeals, and the Plaintiffs’ petition for certiorari was denied by the United States Supreme Court.

6. Coronavirus (COVID-19) Pandemic

The global pandemic outbreak of the novel coronavirus known as COVID-19 and efforts to contain its spread have produced, and will likely continue to produce, substantial market volatility, severe market dislocations and liquidity constraints in many markets, exchange trading suspensions and closures, higher default rates, and global business disruption, and they may result in future significant adverse effects, such as declines in global financial markets and a substantial economic downturn or recession throughout the world. Such factors may have a significant adverse effect on a Fund’s performance and have the potential to impair the ability of a Fund’s investment adviser, subadviser, or other service providers to serve the Fund and could lead to disruptions that negatively impact the Fund.