MML Asset Momentum Fund — Portfolio of Investments |
September 30, 2020 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 23.5% | ||||||||
Common Stock — 23.5% | ||||||||
Communications — 2.0% | ||||||||
Internet — 0.8% | ||||||||
Rightmove PLC | 35,000 | $ | 281,720 | |||||
Media — 0.6% | ||||||||
Fox Corp. Class A | 8,000 | 222,640 | ||||||
Telecommunications — 0.6% | ||||||||
NTT DOCOMO, Inc. (a) | 5,600 | 207,673 | ||||||
712,033 | ||||||||
Consumer, Cyclical — 4.7% | ||||||||
Distribution & Wholesale — 4.7% | ||||||||
Pool Corp. | 5,100 | 1,706,154 | ||||||
Consumer, Non-cyclical — 1.7% | ||||||||
Health Care – Products — 0.4% | ||||||||
Advanced Medical Solutions Group PLC | 54,682 | 152,258 | ||||||
Health Care – Services — 0.7% | ||||||||
Fresenius SE & Co. KGaA | 5,900 | 268,565 | ||||||
Household Products & Wares — 0.6% | ||||||||
Henkel AG & Co. KGaA | 2,000 | 187,336 | ||||||
Portmeirion Group PLC (b) | 5,600 | 30,716 | ||||||
218,052 | ||||||||
638,875 | ||||||||
Energy — 0.8% | ||||||||
Oil & Gas — 0.8% | ||||||||
Marathon Petroleum Corp. | 10,000 | 293,400 | ||||||
Financial — 6.1% | ||||||||
Diversified Financial Services — 6.1% | ||||||||
Mastercard, Inc. Class A | 5,300 | 1,792,301 | ||||||
Visa, Inc. Class A | 2,200 | 439,934 | ||||||
2,232,235 |
MML Asset Momentum Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Industrial — 4.4% | ||||||||
Building Materials — 0.2% | ||||||||
Breedon Group PLC (b) | 88,437 | $ | 81,019 | |||||
Electronics — 2.7% | ||||||||
Halma PLC | 17,600 | 530,471 | ||||||
Roper Technologies, Inc. | 1,100 | 434,621 | ||||||
965,092 | ||||||||
Hand & Machine Tools — 0.5% | ||||||||
Schindler Holding AG | 700 | 191,124 | ||||||
Machinery – Diversified — 1.0% | ||||||||
Keyence Corp. | 800 | 372,834 | ||||||
1,610,069 | ||||||||
Technology — 3.8% | ||||||||
Computers — 2.9% | ||||||||
Fortinet, Inc. (b) | 8,800 | 1,036,728 | ||||||
Software — 0.9% | ||||||||
EMIS Group PLC | 11,800 | 158,482 | ||||||
Nexus AG | 3,400 | 183,376 | ||||||
341,858 | ||||||||
1,378,586 | ||||||||
TOTAL COMMON STOCK (Cost $5,569,155) | 8,571,352 | |||||||
TOTAL EQUITIES (Cost $5,569,155) | 8,571,352 | |||||||
Principal Amount | ||||||||
Bonds & Notes — 24.9% | ||||||||
U.S. Treasury Obligations — 24.9% | ||||||||
U.S. Treasury Bonds & Notes — 24.9% | ||||||||
U.S. Treasury Note | ||||||||
1.250% 3/31/21 (c) | $ | 6,000,000 | 6,033,886 | |||||
1.250% 10/31/21 | 3,000,000 | 3,036,126 | ||||||
9,070,012 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $9,008,008) | 9,070,012 | |||||||
TOTAL BONDS & NOTES (Cost $9,008,008) | 9,070,012 |
MML Asset Momentum Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Mutual Funds — 48.4% | ||||||||
Diversified Financial Services — 48.4% | ||||||||
iShares MSCI Brazil ETF (a) | 36,000 | $ | 995,760 | |||||
iShares MSCI India ETF (a) | 6,600 | 223,476 | ||||||
iShares MSCI Mexico ETF (a) | 17,000 | 567,120 | ||||||
State Street Navigator Securities Lending Prime Portfolio (d) | 4,331,305 | 4,331,305 | ||||||
Vanguard Short-Term Bond ETF (a) | 93,000 | 7,723,650 | ||||||
Vanguard Total Stock Market ETF (a) | 22,200 | 3,780,882 | ||||||
17,622,193 | ||||||||
TOTAL MUTUAL FUNDS (Cost $17,108,704) | 17,622,193 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $31,685,867) | 35,263,557 | |||||||
Principal Amount | ||||||||
Short-Term Investments — 14.8% | ||||||||
Repurchase Agreement — 14.8% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (e) | $ | 5,383,393 | 5,383,393 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $5,383,393) | 5,383,393 | |||||||
TOTAL INVESTMENTS — 111.6% (Cost $37,069,260) (f) | 40,646,950 | |||||||
Other Assets/(Liabilities) — (11.6)% | (4,222,786 | ) | ||||||
NET ASSETS — 100.0% | $ | 36,424,164 |
Abbreviation Legend | |
ETF | Exchange-Traded Fund |
Notes
to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2020, was $5,655,666 or 15.53% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $1,429,413 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(b) | Non-income producing security. |
(c) | A portion of this security is pledged/held as collateral for open derivatives. |
(d) | Represents investment of security lending cash collateral. (Note 2). |
(e) | Maturity value of $5,383,393. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $5,491,110. |
(f) | See Note 3 for aggregate cost for federal tax purposes. |
Futures contracts | ||||||||||||||
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||||
Long | ||||||||||||||
Nasdaq 100 E Mini Index | 12/18/20 | 16 | $ | 3,641,612 | $ | 8,708 | ||||||||
S&P 500 E Mini Index | 12/18/20 | 111 | 18,813,975 | (210,375 | ) | |||||||||
$ | (201,667 | ) |
MML Blend Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Number of Shares | Value | |||||||
Equities — 66.2% | ||||||||
Common Stock — 66.1% | ||||||||
Basic Materials — 1.3% | ||||||||
Chemicals — 0.9% | ||||||||
Air Products & Chemicals, Inc. | 355 | $ | 105,740 | |||||
Celanese Corp. | 6,100 | 655,445 | ||||||
CF Industries Holdings, Inc. | 15,290 | 469,556 | ||||||
Dow, Inc. | 5,106 | 240,237 | ||||||
DuPont de Nemours, Inc. | 3,506 | 194,513 | ||||||
Eastman Chemical Co. | 6,370 | 497,624 | ||||||
Ecolab, Inc. | 2 | 400 | ||||||
FMC Corp. | 3,700 | 391,867 | ||||||
International Flavors & Fragrances, Inc. | 160 | 19,592 | ||||||
Linde PLC | 866 | 206,221 | ||||||
LyondellBasell Industries NV Class A | 14,140 | 996,729 | ||||||
The Mosaic Co. | 1,500 | 27,405 | ||||||
PPG Industries, Inc. | 9,418 | 1,149,749 | ||||||
The Sherwin-Williams Co. | 2,523 | 1,757,875 | ||||||
6,712,953 | ||||||||
Forest Products & Paper — 0.2% | ||||||||
International Paper Co. | 23,687 | 960,271 | ||||||
Iron & Steel — 0.0% | ||||||||
Nucor Corp. | 3,056 | 137,092 | ||||||
Mining — 0.2% | ||||||||
Freeport-McMoRan, Inc. | 3,864 | 60,433 | ||||||
Newmont Corp. | 25,170 | 1,597,037 | ||||||
1,657,470 | ||||||||
9,467,786 | ||||||||
Communications — 11.5% | ||||||||
Advertising — 0.1% | ||||||||
The Interpublic Group of Cos., Inc. | 22,122 | 368,774 | ||||||
Omnicom Group, Inc. | 8,147 | 403,276 | ||||||
772,050 | ||||||||
Internet — 8.4% | ||||||||
Alphabet, Inc. Class A (a) | 6,120 | 8,969,472 | ||||||
Alphabet, Inc. Class C (a) | 5,221 | 7,672,782 | ||||||
Amazon.com, Inc. (a) | 7,110 | 22,387,470 | ||||||
Booking Holdings, Inc. (a) | 1,511 | 2,584,837 | ||||||
CDW Corp. | 3,930 | 469,753 | ||||||
E*TRADE Financial Corp. | 5,561 | 278,328 | ||||||
eBay, Inc. | 30,377 | 1,582,642 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Expedia Group, Inc. | 377 | $ | 34,567 | |||||
F5 Networks, Inc. (a) | 1,400 | 171,878 | ||||||
Facebook, Inc. Class A (a) | 54,850 | 14,365,215 | ||||||
Netflix, Inc. (a) | 2,783 | 1,391,584 | ||||||
NortonLifeLock, Inc. | 17,955 | 374,182 | ||||||
Twitter, Inc. (a) | 1,300 | 57,850 | ||||||
VeriSign, Inc. (a) | 3,431 | 702,840 | ||||||
61,043,400 | ||||||||
Media — 0.9% | ||||||||
Charter Communications, Inc. Class A (a) | 2,031 | 1,268,035 | ||||||
Comcast Corp. Class A | 79,024 | 3,655,650 | ||||||
Discovery, Inc. Class A (a) (b) | 7,700 | 167,629 | ||||||
Discovery, Inc. Class C (a) | 9,043 | 177,243 | ||||||
DISH Network Corp. Class A (a) | 6,600 | 191,598 | ||||||
Fox Corp. Class A | 14,622 | 406,930 | ||||||
Fox Corp. Class B (a) | 2,700 | 75,519 | ||||||
News Corp. Class A | 866 | 12,141 | ||||||
News Corp. Class B | 300 | 4,194 | ||||||
ViacomCBS, Inc. Class B (b) | 4,843 | 135,653 | ||||||
The Walt Disney Co. | 5,066 | 628,589 | ||||||
6,723,181 | ||||||||
Telecommunications — 2.1% | ||||||||
Arista Networks, Inc. (a) | 1,530 | 316,603 | ||||||
AT&T, Inc. | 63,926 | 1,822,530 | ||||||
CenturyLink, Inc. | 27,928 | 281,794 | ||||||
Cisco Systems, Inc. | 133,542 | 5,260,219 | ||||||
Corning, Inc. | 8,167 | 264,692 | ||||||
Juniper Networks, Inc. | 7,289 | 156,714 | ||||||
Motorola Solutions, Inc. | 2,557 | 400,963 | ||||||
T-Mobile US, Inc. (a) | 3,250 | 371,670 | ||||||
Verizon Communications, Inc. | 111,355 | 6,624,509 | ||||||
15,499,694 | ||||||||
84,038,325 | ||||||||
Consumer, Cyclical — 5.7% | ||||||||
Airlines — 0.1% | ||||||||
Alaska Air Group, Inc. | 300 | 10,989 | ||||||
American Airlines Group, Inc. (b) | 2,200 | 27,038 | ||||||
Delta Air Lines, Inc. | 10,600 | 324,148 | ||||||
Southwest Airlines Co. | 10,383 | 389,363 | ||||||
United Airlines Holdings, Inc. (a) | 1,500 | 52,125 | ||||||
803,663 | ||||||||
Apparel — 0.5% | ||||||||
Hanesbrands, Inc. | 25,500 | 401,625 | ||||||
NIKE, Inc. Class B | 20,874 | 2,620,522 | ||||||
PVH Corp. | 1,620 | 96,617 | ||||||
Ralph Lauren Corp. | 2,960 | 201,191 | ||||||
Tapestry, Inc. | 6,220 | 97,219 | ||||||
Under Armour, Inc. Class A (a) | 200 | 2,246 | ||||||
Under Armour, Inc. Class C (a) | 300 | 2,952 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
VF Corp. | 2,200 | $ | 154,550 | |||||
3,576,922 | ||||||||
Auto Manufacturers — 0.4% | ||||||||
Cummins, Inc. | 6,565 | 1,386,265 | ||||||
Ford Motor Co. | 30,013 | 199,887 | ||||||
General Motors Co. | 26,200 | 775,258 | ||||||
PACCAR, Inc. | 4,822 | 411,220 | ||||||
2,772,630 | ||||||||
Auto Parts & Equipment — 0.0% | ||||||||
BorgWarner, Inc. | 4,800 | 185,952 | ||||||
Distribution & Wholesale — 0.2% | ||||||||
Copart, Inc. (a) | 4,400 | 462,704 | ||||||
Fastenal Co. | 9,264 | 417,714 | ||||||
W.W. Grainger, Inc. | 1,072 | 382,457 | ||||||
1,262,875 | ||||||||
Entertainment — 0.0% | ||||||||
Live Nation Entertainment, Inc. (a) | 200 | 10,776 | ||||||
Home Builders — 0.2% | ||||||||
D.R. Horton, Inc. | 4,747 | 359,016 | ||||||
Lennar Corp. Class A | 9,200 | 751,456 | ||||||
NVR, Inc. (a) | 70 | 285,818 | ||||||
PulteGroup, Inc. | 5,873 | 271,861 | ||||||
1,668,151 | ||||||||
Home Furnishing — 0.1% | ||||||||
Leggett & Platt, Inc. | 86 | 3,541 | ||||||
Whirlpool Corp. | 1,353 | 248,803 | ||||||
252,344 | ||||||||
Housewares — 0.0% | ||||||||
Newell Brands, Inc. | 4,600 | 78,936 | ||||||
Leisure Time — 0.0% | ||||||||
Harley-Davidson, Inc. | 3,302 | 81,031 | ||||||
Norwegian Cruise Line Holdings Ltd. (a) (b) | 1,100 | 18,821 | ||||||
Royal Caribbean Cruises Ltd. | 610 | 39,485 | ||||||
139,337 | ||||||||
Lodging — 0.3% | ||||||||
Hilton Worldwide Holdings, Inc. | 14,700 | 1,254,204 | ||||||
Las Vegas Sands Corp. | 9,000 | 419,940 | ||||||
Marriott International, Inc. Class A | 6,081 | 562,979 | ||||||
Wynn Resorts Ltd. | 8 | 574 | ||||||
2,237,697 | ||||||||
Retail — 3.9% | ||||||||
Advance Auto Parts, Inc. | 1,010 | 155,035 | ||||||
AutoZone, Inc. (a) | 464 | 546,425 | ||||||
Best Buy Co., Inc. | 6,292 | 700,237 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
CarMax, Inc. (a) | 400 | $ | 36,764 | |||||
Chipotle Mexican Grill, Inc. (a) | 250 | 310,928 | ||||||
Costco Wholesale Corp. | 1,890 | 670,950 | ||||||
Darden Restaurants, Inc. | 2,654 | 267,364 | ||||||
Dollar General Corp. | 6,770 | 1,419,127 | ||||||
Dollar Tree, Inc. (a) | 2,548 | 232,734 | ||||||
Domino's Pizza, Inc. | 2,230 | 948,374 | ||||||
The Gap, Inc. | 690 | 11,751 | ||||||
Genuine Parts Co. | 364 | 34,642 | ||||||
The Home Depot, Inc. | 30,047 | 8,344,352 | ||||||
Kohl's Corp. | 8,530 | 158,061 | ||||||
L Brands, Inc. | 2,200 | 69,982 | ||||||
Lowe's Cos., Inc. | 32,745 | 5,431,086 | ||||||
McDonald's Corp. | 1,310 | 287,532 | ||||||
Nordstrom, Inc. (b) | 10,308 | 122,871 | ||||||
O'Reilly Automotive, Inc. (a) | 2,663 | 1,227,856 | ||||||
Ross Stores, Inc. | 1,204 | 112,357 | ||||||
Starbucks Corp. | 7,954 | 683,408 | ||||||
Target Corp. | 10,096 | 1,589,312 | ||||||
Tiffany & Co. | 802 | 92,912 | ||||||
The TJX Cos., Inc. | 4,612 | 256,658 | ||||||
Tractor Supply Co. | 3,310 | 474,455 | ||||||
Walgreens Boots Alliance, Inc. | 4,057 | 145,727 | ||||||
Walmart, Inc. | 22,312 | 3,121,672 | ||||||
Yum! Brands, Inc. | 10,275 | 938,108 | ||||||
28,390,680 | ||||||||
Toys, Games & Hobbies — 0.0% | ||||||||
Hasbro, Inc. | 2,791 | 230,872 | ||||||
41,610,835 | ||||||||
Consumer, Non-cyclical — 14.4% | ||||||||
Agriculture — 1.0% | ||||||||
Altria Group, Inc. | 76,459 | 2,954,376 | ||||||
Archer-Daniels-Midland Co. | 792 | 36,820 | ||||||
Philip Morris International, Inc. | 57,286 | 4,295,877 | ||||||
7,287,073 | ||||||||
Beverages — 1.0% | ||||||||
Brown-Forman Corp. Class B | 15 | 1,130 | ||||||
The Coca-Cola Co. | 60,630 | 2,993,303 | ||||||
Constellation Brands, Inc. Class A | 542 | 102,714 | ||||||
Molson Coors Beverage Co. Class B | 1,500 | 50,340 | ||||||
Monster Beverage Corp. (a) | 8,400 | 673,680 | ||||||
PepsiCo, Inc. | 24,730 | 3,427,578 | ||||||
7,248,745 | ||||||||
Biotechnology — 2.0% | ||||||||
Alexion Pharmaceuticals, Inc. (a) | 7,560 | 865,091 | ||||||
Amgen, Inc. | 20,001 | 5,083,454 | ||||||
Biogen, Inc. (a) | 7,762 | 2,201,924 | ||||||
Corteva, Inc. | 2,706 | 77,960 | ||||||
Gilead Sciences, Inc. | 43,810 | 2,768,354 | ||||||
Illumina, Inc. (a) | 210 | 64,907 | ||||||
Incyte Corp. (a) | 260 | 23,332 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Regeneron Pharmaceuticals, Inc. (a) | 2,730 | $ | 1,528,200 | |||||
Vertex Pharmaceuticals, Inc. (a) | 7,250 | 1,972,870 | ||||||
14,586,092 | ||||||||
Commercial Services — 1.1% | ||||||||
Automatic Data Processing, Inc. | 7,259 | 1,012,558 | ||||||
Cintas Corp. | 2,378 | 791,470 | ||||||
Equifax, Inc. | 182 | 28,556 | ||||||
FleetCor Technologies, Inc. (a) | 1,320 | 314,292 | ||||||
Gartner, Inc. (a) | 110 | 13,744 | ||||||
Global Payments, Inc. | 1,132 | 201,021 | ||||||
H&R Block, Inc. (b) | 16,263 | 264,924 | ||||||
IHS Markit Ltd. | 6,500 | 510,315 | ||||||
MarketAxess Holdings, Inc. | 430 | 207,084 | ||||||
Moody's Corp. | 2,670 | 773,899 | ||||||
Nielsen Holdings PLC | 3,400 | 48,212 | ||||||
PayPal Holdings, Inc. (a) | 2,257 | 444,697 | ||||||
Quanta Services, Inc. | 2,013 | 106,407 | ||||||
Robert Half International, Inc. | 10,526 | 557,246 | ||||||
S&P Global, Inc. | 5,788 | 2,087,153 | ||||||
United Rentals, Inc. (a) | 3,250 | 567,125 | ||||||
Verisk Analytics, Inc. | 2,720 | 504,043 | ||||||
8,432,746 | ||||||||
Cosmetics & Personal Care — 1.0% | ||||||||
Colgate-Palmolive Co. | 31,806 | 2,453,833 | ||||||
Coty, Inc. Class A | 900 | 2,430 | ||||||
The Estee Lauder Cos., Inc. Class A | 1,570 | 342,653 | ||||||
The Procter & Gamble Co. | 34,959 | 4,858,951 | ||||||
7,657,867 | ||||||||
Foods — 0.7% | ||||||||
Campbell Soup Co. | 4,424 | 213,989 | ||||||
Conagra Brands, Inc. | 7,774 | 277,610 | ||||||
General Mills, Inc. | 19,062 | 1,175,744 | ||||||
The Hershey Co. | 3,667 | 525,628 | ||||||
Hormel Foods Corp. | 3,232 | 158,012 | ||||||
The J.M. Smucker Co. | 845 | 97,614 | ||||||
Kellogg Co. | 4,528 | 292,464 | ||||||
The Kraft Heinz Co. | 4,958 | 148,492 | ||||||
The Kroger Co. | 27,858 | 944,665 | ||||||
Lamb Weston Holdings, Inc. | 4,700 | 311,469 | ||||||
McCormick & Co., Inc. | 1,411 | 273,875 | ||||||
Mondelez International, Inc. Class A | 2,275 | 130,699 | ||||||
Sysco Corp. | 6,534 | 406,545 | ||||||
Tyson Foods, Inc. Class A | 501 | 29,799 | ||||||
4,986,605 | ||||||||
Health Care – Products — 0.9% | ||||||||
Abbott Laboratories | 5,901 | 642,206 | ||||||
Align Technology, Inc. (a) | 340 | 111,302 | ||||||
Baxter International, Inc. | 3,661 | 294,418 | ||||||
The Cooper Cos., Inc. | 80 | 26,970 | ||||||
Danaher Corp. | 936 | 201,549 | ||||||
Dentsply Sirona, Inc. | 56 | 2,449 | ||||||
Edwards Lifesciences Corp. (a) | 10,750 | 858,065 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Henry Schein, Inc. (a) | 500 | $ | 29,390 | |||||
IDEXX Laboratories, Inc. (a) | 1,100 | 432,421 | ||||||
Intuitive Surgical, Inc. (a) | 428 | 303,683 | ||||||
Medtronic PLC | 2,300 | 239,016 | ||||||
ResMed, Inc. | 2,160 | 370,289 | ||||||
Stryker Corp. | 4,180 | 870,986 | ||||||
Teleflex, Inc. | 60 | 20,425 | ||||||
Thermo Fisher Scientific, Inc. | 3,541 | 1,563,422 | ||||||
Varian Medical Systems, Inc. (a) | 7 | 1,204 | ||||||
West Pharmaceutical Services, Inc. | 1,030 | 283,147 | ||||||
Zimmer Biomet Holdings, Inc. | 5 | 681 | ||||||
6,251,623 | ||||||||
Health Care – Services — 1.3% | ||||||||
Anthem, Inc. | 4,626 | 1,242,497 | ||||||
Centene Corp. (a) | 920 | 53,664 | ||||||
DaVita, Inc. (a) | 5,730 | 490,775 | ||||||
HCA Healthcare, Inc. | 6,880 | 857,798 | ||||||
Humana, Inc. | 3,144 | 1,301,270 | ||||||
Laboratory Corp. of America Holdings (a) | 2 | 377 | ||||||
Quest Diagnostics, Inc. | 209 | 23,928 | ||||||
UnitedHealth Group, Inc. | 16,684 | 5,201,571 | ||||||
Universal Health Services, Inc. Class B | 50 | 5,351 | ||||||
9,177,231 | ||||||||
Household Products & Wares — 0.5% | ||||||||
Avery Dennison Corp. | 1,915 | 244,814 | ||||||
Church & Dwight Co., Inc. | 3,400 | 318,614 | ||||||
The Clorox Co. | 4,583 | 963,209 | ||||||
Kimberly-Clark Corp. | 12,275 | 1,812,526 | ||||||
3,339,163 | ||||||||
Pharmaceuticals — 4.9% | ||||||||
AbbVie, Inc. | 60,753 | 5,321,355 | ||||||
AmerisourceBergen Corp. | 2,507 | 242,979 | ||||||
Becton Dickinson and Co. | 1,602 | 372,753 | ||||||
Bristol-Myers Squibb Co. | 72,043 | 4,343,473 | ||||||
Cardinal Health, Inc. | 5,978 | 280,667 | ||||||
Cigna Corp. | 5,593 | 947,510 | ||||||
CVS Health Corp. | 27,101 | 1,582,698 | ||||||
Eli Lilly and Co. | 26,484 | 3,920,162 | ||||||
Johnson & Johnson | 49,892 | 7,427,921 | ||||||
McKesson Corp. | 4,095 | 609,868 | ||||||
Merck & Co., Inc. | 46,283 | 3,839,175 | ||||||
Mylan NV (a) | 18,547 | 275,052 | ||||||
Pfizer, Inc. | 152,641 | 5,601,925 | ||||||
Zoetis, Inc. | 8,720 | 1,442,026 | ||||||
36,207,564 | ||||||||
105,174,709 | ||||||||
Energy — 1.1% | ||||||||
Oil & Gas — 0.9% | ||||||||
Apache Corp. | 1,521 | 14,404 | ||||||
Cabot Oil & Gas Corp. | 31,048 | 538,993 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Chevron Corp. | 26,938 | $ | 1,939,536 | |||||
Concho Resources, Inc. | 700 | 30,884 | ||||||
ConocoPhillips | 34,039 | 1,117,841 | ||||||
Devon Energy Corp. | 6,447 | 60,989 | ||||||
Diamondback Energy, Inc. | 2,460 | 74,095 | ||||||
EOG Resources, Inc. | 18,078 | 649,723 | ||||||
Exxon Mobil Corp. | 26,897 | 923,374 | ||||||
Hess Corp. | 3,032 | 124,100 | ||||||
HollyFrontier Corp. | 8,900 | 175,419 | ||||||
Marathon Oil Corp. | 7,327 | 29,967 | ||||||
Marathon Petroleum Corp. | 4,900 | 143,766 | ||||||
Noble Energy, Inc. | 1,256 | 10,739 | ||||||
Occidental Petroleum Corp. | 3,629 | 36,326 | ||||||
Phillips 66 | 15,379 | 797,247 | ||||||
Pioneer Natural Resources Co. | 1 | 86 | ||||||
Valero Energy Corp. | 4,040 | 175,013 | ||||||
6,842,502 | ||||||||
Oil & Gas Services — 0.1% | ||||||||
Baker Hughes Co. | 31 | 412 | ||||||
Halliburton Co. | 16,867 | 203,247 | ||||||
National Oilwell Varco, Inc. | 1,094 | 9,912 | ||||||
Schlumberger NV | 17,631 | 274,338 | ||||||
TechnipFMC PLC | 40 | 253 | ||||||
488,162 | ||||||||
Pipelines — 0.1% | ||||||||
Kinder Morgan, Inc. | 14,438 | 178,021 | ||||||
The Williams Cos., Inc. | 42,048 | 826,243 | ||||||
1,004,264 | ||||||||
8,334,928 | ||||||||
Financial — 8.9% | ||||||||
Banks — 2.6% | ||||||||
Bank of America Corp. | 147,898 | 3,562,863 | ||||||
The Bank of New York Mellon Corp. | 27,707 | 951,458 | ||||||
Citigroup, Inc. | 33,551 | 1,446,384 | ||||||
Citizens Financial Group, Inc. | 5,900 | 149,152 | ||||||
Comerica, Inc. | 5,821 | 222,653 | ||||||
Fifth Third Bancorp | 11,821 | 252,024 | ||||||
The Goldman Sachs Group, Inc. | 4,880 | 980,734 | ||||||
Huntington Bancshares, Inc. | 6,800 | 62,356 | ||||||
JP Morgan Chase & Co. | 62,732 | 6,039,210 | ||||||
KeyCorp | 8,664 | 103,361 | ||||||
M&T Bank Corp. | 2,545 | 234,369 | ||||||
Morgan Stanley | 16,397 | 792,795 | ||||||
Northern Trust Corp. | 3,459 | 269,698 | ||||||
The PNC Financial Services Group, Inc. | 11,408 | 1,253,853 | ||||||
Regions Financial Corp. | 26,715 | 308,024 | ||||||
State Street Corp. | 11,276 | 669,005 | ||||||
SVB Financial Group (a) | 480 | 115,498 | ||||||
Truist Financial Corp. | 6,944 | 264,219 | ||||||
US Bancorp | 24,402 | 874,812 | ||||||
Wells Fargo & Co. | 34,516 | 811,471 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Zions Bancorp NA | 2,041 | $ | 59,638 | |||||
19,423,577 | ||||||||
Diversified Financial Services — 3.1% | ||||||||
Alliance Data Systems Corp. | 6,280 | 263,634 | ||||||
American Express Co. | 11,739 | 1,176,835 | ||||||
Ameriprise Financial, Inc. | 5,266 | 811,543 | ||||||
BlackRock, Inc. | 1,450 | 817,148 | ||||||
Capital One Financial Corp. | 3,552 | 255,247 | ||||||
The Charles Schwab Corp. | 18,912 | 685,182 | ||||||
CME Group, Inc. | 1,840 | 307,850 | ||||||
Discover Financial Services | 8,583 | 495,926 | ||||||
Franklin Resources, Inc. | 5,387 | 109,625 | ||||||
Intercontinental Exchange, Inc. | 8,715 | 871,936 | ||||||
Invesco Ltd. | 14,412 | 164,441 | ||||||
Jefferies Financial Group, Inc. | 37 | 666 | ||||||
Mastercard, Inc. Class A | 25,020 | 8,461,013 | ||||||
Nasdaq, Inc. | 45 | 5,522 | ||||||
Raymond James Financial, Inc. | 3,900 | 283,764 | ||||||
Synchrony Financial | 25,900 | 677,803 | ||||||
T. Rowe Price Group, Inc. | 4,706 | 603,403 | ||||||
Visa, Inc. Class A | 30,562 | 6,111,483 | ||||||
The Western Union Co. | 21,188 | 454,059 | ||||||
22,557,080 | ||||||||
Insurance — 1.8% | ||||||||
Aflac, Inc. | 14,844 | 539,579 | ||||||
The Allstate Corp. | 11,535 | 1,085,905 | ||||||
American International Group, Inc. | 11,446 | 315,108 | ||||||
Aon PLC Class A | 1,795 | 370,309 | ||||||
Assurant, Inc. | 96 | 11,646 | ||||||
Berkshire Hathaway, Inc. Class B (a) | 25,526 | 5,435,507 | ||||||
Chubb Ltd. | 1,108 | 128,661 | ||||||
Cincinnati Financial Corp. | 39 | 3,041 | ||||||
Everest Re Group Ltd. | 20 | 3,951 | ||||||
Globe Life, Inc. | 3,282 | 262,232 | ||||||
The Hartford Financial Services Group, Inc. | 5,152 | 189,903 | ||||||
Lincoln National Corp. | 6,951 | 217,775 | ||||||
Loews Corp. | 783 | 27,209 | ||||||
Marsh & McLennan Cos., Inc. | 1,103 | 126,514 | ||||||
MetLife, Inc. | 29,190 | 1,084,992 | ||||||
Principal Financial Group, Inc. | 8,129 | 327,355 | ||||||
The Progressive Corp. | 19,514 | 1,847,390 | ||||||
Prudential Financial, Inc. | 8,037 | 510,510 | ||||||
The Travelers Cos., Inc. | 4,097 | 443,254 | ||||||
Unum Group | 8,731 | 146,943 | ||||||
13,077,784 | ||||||||
Real Estate — 0.1% | ||||||||
CBRE Group, Inc. Class A (a) | 8,087 | 379,846 | ||||||
Real Estate Investment Trusts (REITS) — 1.3% | ||||||||
Alexandria Real Estate Equities, Inc. | 120 | 19,200 | ||||||
American Tower Corp. | 10,749 | 2,598,356 | ||||||
Apartment Investment and Management Co. Class A | 82 | 2,765 | ||||||
AvalonBay Communities, Inc. | 2,081 | 310,777 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Boston Properties, Inc. | 3,793 | $ | 304,578 | |||||
Crown Castle International Corp. | 1,690 | 281,385 | ||||||
Digital Realty Trust, Inc. | 280 | 41,093 | ||||||
Duke Realty Corp. | 9,000 | 332,100 | ||||||
Equinix, Inc. | 610 | 463,679 | ||||||
Equity Residential | 8,356 | 428,913 | ||||||
Essex Property Trust, Inc. | 1,580 | 317,248 | ||||||
Extra Space Storage, Inc. | 1,190 | 127,318 | ||||||
Healthpeak Properties, Inc. | 935 | 25,385 | ||||||
Host Hotels & Resorts, Inc. | 10,737 | 115,852 | ||||||
Iron Mountain, Inc. (b) | 9,748 | 261,149 | ||||||
Kimco Realty Corp. | 13,567 | 152,764 | ||||||
Mid-America Apartment Communities, Inc. | 2,190 | 253,931 | ||||||
Prologis, Inc. | 12,938 | 1,301,822 | ||||||
Public Storage | 1,693 | 377,065 | ||||||
Realty Income Corp. | 700 | 42,525 | ||||||
Regency Centers Corp. | 3,900 | 148,278 | ||||||
Simon Property Group, Inc. | 13,605 | 879,971 | ||||||
SL Green Realty Corp. (b) | 4,490 | 208,201 | ||||||
UDR, Inc. | 200 | 6,522 | ||||||
Ventas, Inc. | 8,225 | 345,121 | ||||||
Vornado Realty Trust | 6,973 | 235,060 | ||||||
Welltower, Inc. | 3,000 | 165,270 | ||||||
Weyerhaeuser Co. | 26 | 742 | ||||||
9,747,070 | ||||||||
Savings & Loans — 0.0% | ||||||||
People's United Financial, Inc. | 1,751 | 18,053 | ||||||
65,203,410 | ||||||||
Industrial — 5.0% | ||||||||
Aerospace & Defense — 1.0% | ||||||||
The Boeing Co. | 2,052 | 339,113 | ||||||
General Dynamics Corp. | 3,032 | 419,720 | ||||||
Howmet Aerospace, Inc. | 5,408 | 90,422 | ||||||
L3 Harris Technologies, Inc. | 1,161 | 197,184 | ||||||
Lockheed Martin Corp. | 10,510 | 4,028,273 | ||||||
Northrop Grumman Corp. | 2,638 | 832,263 | ||||||
Raytheon Technologies Corp. | 14,318 | 823,858 | ||||||
TransDigm Group, Inc. | 1,080 | 513,129 | ||||||
7,243,962 | ||||||||
Building Materials — 0.2% | ||||||||
Carrier Global Corp. | 28,493 | 870,176 | ||||||
Johnson Controls International PLC | 2,565 | 104,780 | ||||||
Masco Corp. | 10,125 | 558,191 | ||||||
Vulcan Materials Co. | 5 | 678 | ||||||
1,533,825 | ||||||||
Electrical Components & Equipment — 0.2% | ||||||||
AMETEK, Inc. | 2,500 | 248,500 | ||||||
Emerson Electric Co. | 18,569 | 1,217,569 | ||||||
1,466,069 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Electronics — 0.7% | ||||||||
Agilent Technologies, Inc. | 3,063 | $ | 309,179 | |||||
Allegion PLC | 1,633 | 161,520 | ||||||
Amphenol Corp. Class A | 474 | 51,320 | ||||||
FLIR Systems, Inc. | 2,852 | 102,244 | ||||||
Fortive Corp. | 478 | 36,429 | ||||||
Garmin Ltd. | 2,100 | 199,206 | ||||||
Honeywell International, Inc. | 13,052 | 2,148,490 | ||||||
Keysight Technologies, Inc. (a) | 4,500 | 444,510 | ||||||
Mettler-Toledo International, Inc. (a) | 760 | 733,970 | ||||||
PerkinElmer, Inc. | 20 | 2,510 | ||||||
Roper Technologies, Inc. | 663 | 261,958 | ||||||
TE Connectivity Ltd. | 2,000 | 195,480 | ||||||
Waters Corp. (a) | 1,540 | 301,347 | ||||||
4,948,163 | ||||||||
Engineering & Construction — 0.0% | ||||||||
Jacobs Engineering Group, Inc. | 820 | 76,071 | ||||||
Environmental Controls — 0.1% | ||||||||
Pentair PLC | 2,523 | 115,478 | ||||||
Republic Services, Inc. | 337 | 31,459 | ||||||
Waste Management, Inc. | 6,903 | 781,212 | ||||||
928,149 | ||||||||
Hand & Machine Tools — 0.0% | ||||||||
Snap-on, Inc. | 1,171 | 172,289 | ||||||
Stanley Black & Decker, Inc. | 9 | 1,460 | ||||||
173,749 | ||||||||
Machinery – Construction & Mining — 0.2% | ||||||||
Caterpillar, Inc. | 10,105 | 1,507,161 | ||||||
Machinery – Diversified — 0.3% | ||||||||
Dover Corp. | 1,303 | 141,167 | ||||||
Flowserve Corp. | 1,870 | 51,032 | ||||||
Ingersoll Rand, Inc. (a) | 544 | 19,367 | ||||||
Otis Worldwide Corp. | 14,046 | 876,751 | ||||||
Rockwell Automation, Inc. | 4,953 | 1,093,028 | ||||||
Westinghouse Air Brake Technologies Corp. | 500 | 30,940 | ||||||
Xylem, Inc. | 55 | 4,627 | ||||||
2,216,912 | ||||||||
Miscellaneous - Manufacturing — 0.9% | ||||||||
3M Co. | 15,432 | 2,471,898 | ||||||
Eaton Corp. PLC | 7,366 | 751,553 | ||||||
General Electric Co. | 20,786 | 129,497 | ||||||
Illinois Tool Works, Inc. | 10,365 | 2,002,622 | ||||||
Parker-Hannifin Corp. | 2,268 | 458,907 | ||||||
Textron, Inc. | 3,372 | 121,695 | ||||||
Trane Technologies PLC | 4,090 | 495,912 | ||||||
6,432,084 | ||||||||
Packaging & Containers — 0.2% | ||||||||
Amcor PLC | 27,900 | 308,295 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Ball Corp. | 504 | $ | 41,892 | |||||
Packaging Corp. of America | 4,350 | 474,368 | ||||||
Sealed Air Corp. | 53 | 2,057 | ||||||
WestRock Co. | 7,467 | 259,404 | ||||||
1,086,016 | ||||||||
Shipbuilding — 0.0% | ||||||||
Huntington Ingalls Industries, Inc. | 1,110 | 156,233 | ||||||
Transportation — 1.2% | ||||||||
C.H. Robinson Worldwide, Inc. | 2,520 | 257,519 | ||||||
CSX Corp. | 19,807 | 1,538,410 | ||||||
Expeditors International of Washington, Inc. | 4,626 | 418,745 | ||||||
Kansas City Southern | 1,740 | 314,644 | ||||||
Norfolk Southern Corp. | 3,643 | 779,566 | ||||||
Old Dominion Freight Line, Inc. | 1,840 | 332,893 | ||||||
Union Pacific Corp. | 15,132 | 2,979,037 | ||||||
United Parcel Service, Inc. Class B | 15,040 | 2,506,115 | ||||||
9,126,929 | ||||||||
36,895,323 | ||||||||
Technology — 16.6% | ||||||||
Computers — 5.6% | ||||||||
Accenture PLC Class A | 11,540 | 2,607,925 | ||||||
Apple, Inc. | 286,068 | 33,129,535 | ||||||
Cognizant Technology Solutions Corp. Class A | 8,856 | 614,784 | ||||||
DXC Technology Co. | 7,579 | 135,285 | ||||||
Fortinet, Inc. (a) | 5,790 | 682,120 | ||||||
Hewlett Packard Enterprise Co. | 10,074 | 94,393 | ||||||
HP, Inc. | 44,074 | 836,965 | ||||||
International Business Machines Corp. | 16,840 | 2,048,923 | ||||||
Leidos Holdings, Inc. | 600 | 53,490 | ||||||
NetApp, Inc. | 9,598 | 420,776 | ||||||
Seagate Technology PLC | 8,700 | 428,649 | ||||||
Western Digital Corp. | 547 | 19,993 | ||||||
41,072,838 | ||||||||
Office & Business Equipment — 0.1% | ||||||||
Xerox Holdings Corp. | 5,736 | 107,665 | ||||||
Zebra Technologies Corp. Class A (a) | 1,120 | 282,755 | ||||||
390,420 | ||||||||
Semiconductors — 4.1% | ||||||||
Advanced Micro Devices, Inc. (a) | 11,000 | 901,890 | ||||||
Analog Devices, Inc. | 1,072 | 125,145 | ||||||
Applied Materials, Inc. | 24,539 | 1,458,844 | ||||||
Broadcom, Inc. | 5,469 | 1,992,466 | ||||||
Intel Corp. | 118,223 | 6,121,587 | ||||||
IPG Photonics Corp. (a) | 50 | 8,499 | ||||||
KLA Corp. | 5,439 | 1,053,752 | ||||||
Lam Research Corp. | 6,183 | 2,051,210 | ||||||
Maxim Integrated Products, Inc. | 6,600 | 446,226 | ||||||
Microchip Technology, Inc. | 2,261 | 232,340 | ||||||
Micron Technology, Inc. (a) | 15,417 | 723,982 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
NVIDIA Corp. | 9,966 | $ | 5,393,799 | |||||
QUALCOMM, Inc. | 36,730 | 4,322,386 | ||||||
Skyworks Solutions, Inc. | 2,840 | 413,220 | ||||||
Texas Instruments, Inc. | 32,344 | 4,618,400 | ||||||
Xilinx, Inc. | 5,996 | 625,023 | ||||||
30,488,769 | ||||||||
Software — 6.8% | ||||||||
Activision Blizzard, Inc. | 14,400 | 1,165,680 | ||||||
Adobe, Inc. (a) | 11,200 | 5,492,816 | ||||||
Akamai Technologies, Inc. (a) | 2,026 | 223,954 | ||||||
Autodesk, Inc. (a) | 2,317 | 535,250 | ||||||
Broadridge Financial Solutions, Inc. | 720 | 95,040 | ||||||
Cadence Design Systems, Inc. (a) | 8,700 | 927,681 | ||||||
Cerner Corp. | 4,300 | 310,847 | ||||||
Citrix Systems, Inc. | 3,167 | 436,127 | ||||||
Electronic Arts, Inc. (a) | 10,877 | 1,418,469 | ||||||
Fidelity National Information Services, Inc. | 900 | 132,489 | ||||||
Fiserv, Inc. (a) | 802 | 82,646 | ||||||
Intuit, Inc. | 6,190 | 2,019,240 | ||||||
Jack Henry & Associates, Inc. | 1,940 | 315,425 | ||||||
Microsoft Corp. | 142,685 | 30,010,936 | ||||||
MSCI, Inc. | 770 | 274,721 | ||||||
Oracle Corp. | 71,757 | 4,283,893 | ||||||
Paychex, Inc. | 5,864 | 467,771 | ||||||
salesforce.com, Inc. (a) | 1,024 | 257,352 | ||||||
ServiceNow, Inc. (a) | 1,570 | 761,450 | ||||||
Synopsys, Inc. (a) | 2,630 | 562,767 | ||||||
49,774,554 | ||||||||
121,726,581 | ||||||||
Utilities — 1.6% | ||||||||
Electric — 1.6% | ||||||||
AES Corp. | 13,387 | 242,438 | ||||||
Alliant Energy Corp. | 5,400 | 278,910 | ||||||
Ameren Corp. | 460 | 36,377 | ||||||
American Electric Power Co., Inc. | 2,485 | 203,099 | ||||||
CenterPoint Energy, Inc. | 4,131 | 79,935 | ||||||
CMS Energy Corp. | 1,103 | 67,735 | ||||||
Consolidated Edison, Inc. | 1,282 | 99,740 | ||||||
Dominion Energy, Inc. | 1,347 | 106,319 | ||||||
DTE Energy Co. | 310 | 35,662 | ||||||
Duke Energy Corp. | 10,290 | 911,282 | ||||||
Edison International | 826 | 41,994 | ||||||
Entergy Corp. | 848 | 83,553 | ||||||
Evergy, Inc. | 15,200 | 772,464 | ||||||
Eversource Energy | 812 | 67,843 | ||||||
Exelon Corp. | 22,140 | 791,726 | ||||||
FirstEnergy Corp. | 11,080 | 318,107 | ||||||
NextEra Energy, Inc. | 710 | 197,068 | ||||||
NRG Energy, Inc. | 38,600 | 1,186,564 | ||||||
Pinnacle West Capital Corp. | 1,396 | 104,072 | ||||||
PPL Corp. | 44,318 | 1,205,893 | ||||||
Public Service Enterprise Group, Inc. | 9,924 | 544,927 | ||||||
Sempra Energy | 11,421 | 1,351,789 | ||||||
The Southern Co. | 44,522 | 2,413,983 |
MML Blend Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
WEC Energy Group, Inc. | 542 | $ | 52,520 | |||||
Xcel Energy, Inc. | 2,172 | 149,890 | ||||||
11,343,890 | ||||||||
Gas — 0.0% | ||||||||
NiSource, Inc. | 713 | 15,686 | ||||||
Water — 0.0% | ||||||||
American Water Works Co., Inc. | 380 | 55,054 | ||||||
11,414,630 | ||||||||
TOTAL COMMON STOCK (Cost $315,452,940) | 483,866,527 | |||||||
Preferred Stock — 0.1% | ||||||||
Financial — 0.1% | ||||||||
Insurance — 0.1% | ||||||||
The Allstate Corp., 3 mo. USD LIBOR + 3.165% | ||||||||
5.100% VRN 1/15/53 | 20,000 | 519,400 | ||||||
TOTAL PREFERRED STOCK (Cost $500,000) | 519,400 | |||||||
TOTAL EQUITIES (Cost $315,952,940) | 484,385,927 |
Principal Amount | ||||||||
Bonds & Notes — 33.6% | ||||||||
Corporate Debt — 13.7% | ||||||||
Aerospace & Defense — 0.0% | ||||||||
Raytheon Technologies Corp. | ||||||||
4.500% 6/01/42 | $ | 150,000 | 189,380 | |||||
6.125% 7/15/38 | 80,000 | 114,872 | ||||||
304,252 | ||||||||
Agriculture — 0.3% | ||||||||
BAT Capital Corp. | ||||||||
2.259% 3/25/28 | 175,000 | 175,868 | ||||||
4.700% 4/02/27 | 225,000 | 258,127 | ||||||
4.758% 9/06/49 | 110,000 | 119,466 | ||||||
Bunge Ltd. Finance Corp. | ||||||||
1.630% 8/17/25 | 95,000 | 95,415 | ||||||
3.250% 8/15/26 | 262,000 | 282,528 | ||||||
4.350% 3/15/24 | 350,000 | 385,665 | ||||||
Imperial Brands Finance PLC | ||||||||
3.875% 7/26/29 (c) | 631,000 | 683,489 | ||||||
Reynolds American, Inc. | ||||||||
5.850% 8/15/45 | 220,000 | 267,332 | ||||||
2,267,890 | ||||||||
Airlines — 0.1% | ||||||||
American Airlines Pass-Through Trust, Series 2014-1, Class B, | ||||||||
4.375% 4/01/24 | 22,931 | 16,240 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Delta Air Lines, Inc. / SkyMiles IP Ltd. | ||||||||
4.500% 10/20/25 (c) | $ | 235,000 | $ | 241,310 | ||||
Spirit Airlines Pass-Through Trust, Series 2015-1, Class A, | ||||||||
4.100% 10/01/29 | 248,959 | 223,457 | ||||||
United Airlines Pass-Through Trust, Series 2018-1, Class B, | ||||||||
4.600% 9/01/27 | 78,230 | 60,662 | ||||||
541,669 | ||||||||
Auto Manufacturers — 0.6% | ||||||||
Ford Motor Credit Co. LLC | ||||||||
3.087% 1/09/23 | 320,000 | 313,565 | ||||||
3.336% 3/18/21 | 400,000 | 400,100 | ||||||
3.810% 1/09/24 | 450,000 | 445,500 | ||||||
4.140% 2/15/23 | 465,000 | 467,892 | ||||||
4.375% 8/06/23 | 475,000 | 482,267 | ||||||
General Motors Co. | ||||||||
4.200% 10/01/27 | 215,000 | 230,419 | ||||||
5.150% 4/01/38 | 130,000 | 138,056 | ||||||
General Motors Financial Co., Inc. | ||||||||
3.500% 11/07/24 | 490,000 | 514,768 | ||||||
4.150% 6/19/23 | 582,000 | 617,805 | ||||||
4.200% 11/06/21 | 301,000 | 310,676 | ||||||
Hyundai Capital America | ||||||||
2.850% 11/01/22 (c) | 385,000 | 398,136 | ||||||
4,319,184 | ||||||||
Banks — 1.7% | ||||||||
ABN AMRO Bank NV | ||||||||
4.750% 7/28/25 (c) | 75,000 | 84,458 | ||||||
Associated Banc-Corp. | ||||||||
4.250% 1/15/25 | 494,000 | 526,339 | ||||||
Bank of America Corp. | ||||||||
SOFR + 2.150% 2.592% VRN 4/29/31 | 310,000 | 329,816 | ||||||
4.183% 11/25/27 | 255,000 | 292,158 | ||||||
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38 | 200,000 | 243,722 | ||||||
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29 | 100,000 | 117,306 | ||||||
4.750% 4/21/45 | 125,000 | 163,520 | ||||||
6.110% 1/29/37 | 220,000 | 310,564 | ||||||
7.750% 5/14/38 | 95,000 | 157,338 | ||||||
The Bank of Nova Scotia | ||||||||
4.500% 12/16/25 | 200,000 | 231,677 | ||||||
3 mo. USD LIBOR + 2.648% 4.650% VRN (d) | 715,000 | 693,107 | ||||||
Barclays Bank PLC | ||||||||
10.179% 6/12/21 (c) | 440,000 | 462,928 | ||||||
Barclays PLC | ||||||||
3 mo. USD LIBOR + 1.380% 1.660% FRN 5/16/24 | 345,000 | 345,940 | ||||||
4.337% 1/10/28 | 260,000 | 289,526 | ||||||
BPCE SA | ||||||||
1.652% 10/06/26 (c) (e) | 945,000 | 946,519 | ||||||
Citigroup, Inc. | ||||||||
3.875% 3/26/25 | 387,000 | 426,370 | ||||||
6.000% 10/31/33 | 97,000 | 130,670 | ||||||
6.625% 6/15/32 | 100,000 | 139,713 | ||||||
8.125% 7/15/39 | 90,000 | 156,653 | ||||||
Credit Suisse AG | ||||||||
6.500% 8/08/23 (c) | 350,000 | 396,375 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Deutsche Bank AG | ||||||||
3.150% 1/22/21 | $ | 428,000 | $ | 430,589 | ||||
Discover Bank 5 year USD Swap + 1.730% | ||||||||
4.682% VRN 8/09/28 | 495,000 | 518,928 | ||||||
First Republic Bank | ||||||||
4.375% 8/01/46 | 935,000 | 1,132,572 | ||||||
Fulton Financial Corp. | ||||||||
3.600% 3/16/22 | 230,000 | 235,072 | ||||||
The Goldman Sachs Group, Inc. | ||||||||
4.250% 10/21/25 | 100,000 | 113,770 | ||||||
5.950% 1/15/27 | 212,000 | 260,865 | ||||||
6.250% 2/01/41 | 60,000 | 89,634 | ||||||
6.750% 10/01/37 | 200,000 | 290,586 | ||||||
HSBC Holdings PLC | ||||||||
4.250% 3/14/24 | 200,000 | 214,473 | ||||||
4.250% 8/18/25 | 464,000 | 504,262 | ||||||
JP Morgan Chase & Co. | ||||||||
SOFR + 2.515% 2.956% VRN 5/13/31 | 245,000 | 262,862 | ||||||
5.600% 7/15/41 | 195,000 | 285,966 | ||||||
Morgan Stanley | ||||||||
4.350% 9/08/26 | 775,000 | 897,063 | ||||||
SVB Financial Group | ||||||||
3.500% 1/29/25 | 400,000 | 430,472 | ||||||
Valley National Bancorp | ||||||||
5.125% 9/27/23 | 245,000 | 262,516 | ||||||
Wells Fargo & Co. | ||||||||
5.375% 11/02/43 | 159,000 | 210,476 | ||||||
5.606% 1/15/44 | 110,000 | 150,135 | ||||||
12,734,940 | ||||||||
Beverages — 0.2% | ||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||||||||
4.900% 2/01/46 | 825,000 | 1,017,249 | ||||||
Molson Coors Beverage Co. | ||||||||
4.200% 7/15/46 | 285,000 | 300,630 | ||||||
5.000% 5/01/42 | 60,000 | 67,953 | ||||||
1,385,832 | ||||||||
Building Materials — 0.1% | ||||||||
Standard Industries, Inc. | ||||||||
5.000% 2/15/27 (c) | 771,000 | 801,840 | ||||||
Chemicals — 0.4% | ||||||||
DuPont de Nemours, Inc. | ||||||||
5.319% 11/15/38 | 365,000 | 463,170 | ||||||
Huntsman International LLC | ||||||||
5.125% 11/15/22 | 197,000 | 211,834 | ||||||
LYB International Finance BV | ||||||||
5.250% 7/15/43 | 175,000 | 213,913 | ||||||
Nutrition & Biosciences, Inc. | ||||||||
1.832% 10/15/27 (c) | 180,000 | 180,816 | ||||||
Syngenta Finance NV | ||||||||
4.441% 4/24/23 (c) | 625,000 | 660,088 | ||||||
Yara International ASA | ||||||||
3.148% 6/04/30 (c) | 85,000 | 90,957 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
4.750% 6/01/28 (c) | $ | 745,000 | $ | 873,005 | ||||
2,693,783 | ||||||||
Commercial Services — 0.0% | ||||||||
ERAC USA Finance LLC | ||||||||
6.700% 6/01/34 (c) | 78,000 | 107,733 | ||||||
PayPal Holdings, Inc. | ||||||||
3.250% 6/01/50 | 170,000 | 188,056 | ||||||
295,789 | ||||||||
Computers — 0.3% | ||||||||
Apple, Inc. | ||||||||
2.650% 5/11/50 | 175,000 | 183,379 | ||||||
Dell International LLC/EMC Corp. | ||||||||
6.020% 6/15/26 (c) | 616,000 | 723,295 | ||||||
Genpact Luxembourg Sarl | ||||||||
3.375% 12/01/24 | 770,000 | 806,336 | ||||||
3.700% STEP 4/01/22 | 360,000 | 368,547 | ||||||
Leidos, Inc. | ||||||||
4.375% 5/15/30 (c) | 145,000 | 169,933 | ||||||
2,251,490 | ||||||||
Diversified Financial Services — 1.1% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust | ||||||||
4.500% 9/15/23 | 335,000 | 345,235 | ||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
6.500% 7/15/25 | 160,000 | 172,731 | ||||||
Aircastle Ltd. | ||||||||
4.400% 9/25/23 | 315,000 | 311,614 | ||||||
5.000% 4/01/23 | 525,000 | 526,183 | ||||||
Ally Financial, Inc. | ||||||||
4.125% 2/13/22 | 375,000 | 388,612 | ||||||
Antares Holdings LP | ||||||||
6.000% 8/15/23 (c) | 495,000 | 500,572 | ||||||
8.500% 5/18/25 (c) | 450,000 | 474,577 | ||||||
Ares Finance Co. LLC | ||||||||
4.000% 10/08/24 (c) | 355,000 | 379,488 | ||||||
Avolon Holdings Funding Ltd. | ||||||||
3.250% 2/15/27 (c) | 310,000 | 276,561 | ||||||
Brookfield Finance, Inc. | ||||||||
4.350% 4/15/30 | 730,000 | 852,230 | ||||||
4.850% 3/29/29 | 433,000 | 516,623 | ||||||
GE Capital International Funding Co. Unlimited Co. | ||||||||
4.418% 11/15/35 | 200,000 | 211,112 | ||||||
Global Aircraft Leasing Co. Ltd. | ||||||||
6.500% 9/15/24 (c) | 336,781 | 187,755 | ||||||
Lazard Group LLC | ||||||||
3.625% 3/01/27 | 184,000 | 198,736 | ||||||
3.750% 2/13/25 | 160,000 | 173,434 | ||||||
4.500% 9/19/28 | 460,000 | 532,129 | ||||||
LeasePlan Corp. NV | ||||||||
2.875% 10/24/24 (c) | 345,000 | 356,046 | ||||||
Legg Mason, Inc. | ||||||||
5.625% 1/15/44 | 255,000 | 353,074 | ||||||
Park Aerospace Holdings Ltd. | ||||||||
4.500% 3/15/23 (c) | 250,000 | 247,737 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
5.250% 8/15/22 (c) | $ | 1,375,000 | $ | 1,380,562 | ||||
8,385,011 | ||||||||
Electric — 0.5% | ||||||||
The Cleveland Electric Illuminating Co. | ||||||||
3.500% 4/01/28 (c) | 155,000 | 167,489 | ||||||
CMS Energy Corp. | ||||||||
4.700% 3/31/43 | 115,000 | 143,659 | ||||||
4.875% 3/01/44 | 390,000 | 510,611 | ||||||
Entergy Arkansas LLC | ||||||||
2.650% 6/15/51 | 425,000 | 428,910 | ||||||
Entergy Louisiana LLC | ||||||||
4.950% 1/15/45 | 165,000 | 181,582 | ||||||
ITC Holdings Corp. | ||||||||
2.950% 5/14/30 (c) | 225,000 | 241,951 | ||||||
Nevada Power Co. | ||||||||
6.650% 4/01/36 | 135,000 | 199,435 | ||||||
Oncor Electric Delivery Co. | ||||||||
7.500% 9/01/38 | 40,000 | 65,921 | ||||||
Pacific Gas and Electric Co. | ||||||||
2.500% 2/01/31 | 190,000 | 180,779 | ||||||
Pennsylvania Electric Co. | ||||||||
4.150% 4/15/25 (c) | 295,000 | 323,495 | ||||||
Potomac Electric Power Co. | ||||||||
4.150% 3/15/43 | 350,000 | 423,498 | ||||||
Puget Energy, Inc. | ||||||||
3.650% 5/15/25 | 350,000 | 374,594 | ||||||
Xcel Energy, Inc. | ||||||||
6.500% 7/01/36 | 390,000 | 571,779 | ||||||
3,813,703 | ||||||||
Electronics — 0.0% | ||||||||
Ingram Micro, Inc. | ||||||||
5.450% STEP 12/15/24 | 203,000 | 217,131 | ||||||
Foods — 0.3% | ||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||
5.500% 1/15/30 (c) | 499,000 | 543,146 | ||||||
6.500% 4/15/29 (c) | 130,000 | 144,296 | ||||||
Kraft Heinz Foods Co. | ||||||||
3.950% 7/15/25 | 351,000 | 380,852 | ||||||
Mars, Inc. | ||||||||
3.950% 4/01/49 (c) | 415,000 | 502,391 | ||||||
Smithfield Foods, Inc. | ||||||||
3.000% 10/15/30 (c) | 225,000 | 225,486 | ||||||
1,796,171 | ||||||||
Forest Products & Paper — 0.0% | ||||||||
Fibria Overseas Finance Ltd. | ||||||||
4.000% 1/14/25 | 250,000 | 265,000 | ||||||
Gas — 0.1% | ||||||||
NiSource, Inc. | ||||||||
4.800% 2/15/44 | 385,000 | 481,160 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
5.800% 2/01/42 | $ | 175,000 | $ | 237,910 | ||||
719,070 | ||||||||
Health Care – Products — 0.0% | ||||||||
Dentsply Sirona, Inc. | ||||||||
3.250% 6/01/30 | 150,000 | 163,077 | ||||||
Health Care – Services — 0.1% | ||||||||
Advocate Health & Hospitals Corp. | ||||||||
3.829% 8/15/28 | 165,000 | 191,058 | ||||||
Humana, Inc. | ||||||||
4.800% 3/15/47 | 125,000 | 163,639 | ||||||
UnitedHealth Group, Inc. | ||||||||
3.125% 5/15/60 | 210,000 | 225,379 | ||||||
580,076 | ||||||||
Home Builders — 0.0% | ||||||||
Lennar Corp. | ||||||||
4.750% 5/30/25 | 200,000 | 218,276 | ||||||
Insurance — 2.0% | ||||||||
Allstate Corp. 3 mo. USD LIBOR + 2.938% | ||||||||
5.750% VRN 8/15/53 | 990,000 | 1,030,861 | ||||||
American International Group, Inc. | ||||||||
3.400% 6/30/30 | 285,000 | 315,599 | ||||||
4.200% 4/01/28 | 210,000 | 243,537 | ||||||
4.500% 7/16/44 | 200,000 | 233,311 | ||||||
4.750% 4/01/48 | 75,000 | 91,887 | ||||||
3 mo. USD LIBOR + 2.868% 5.750% VRN 4/01/48 | 625,000 | 682,682 | ||||||
AmTrust Financial Services, Inc. | ||||||||
6.125% 8/15/23 | 775,000 | 718,579 | ||||||
Arch Capital Group Ltd. | ||||||||
3.635% 6/30/50 | 310,000 | 333,279 | ||||||
Arch Capital Group US, Inc. | ||||||||
5.144% 11/01/43 | 170,000 | 216,289 | ||||||
Athene Global Funding | ||||||||
2.500% 1/14/25 (c) | 630,000 | 649,381 | ||||||
Athene Holding Ltd. | ||||||||
4.125% 1/12/28 | 1,255,000 | 1,362,816 | ||||||
AXIS Specialty Finance LLC | ||||||||
3.900% 7/15/29 | 275,000 | 300,563 | ||||||
5 year CMT + 3.186% 4.900% VRN 1/15/40 | 300,000 | 299,715 | ||||||
AXIS Specialty Finance PLC | ||||||||
4.000% 12/06/27 | 665,000 | 727,917 | ||||||
Brighthouse Financial, Inc. | ||||||||
3.700% 6/22/27 | 300,000 | 311,209 | ||||||
4.700% 6/22/47 | 275,000 | 264,659 | ||||||
5.625% 5/15/30 | 230,000 | 267,850 | ||||||
Brown & Brown, Inc. | ||||||||
2.375% 3/15/31 | 145,000 | 145,892 | ||||||
4.200% 9/15/24 | 246,000 | 271,463 | ||||||
CNO Financial Group, Inc. | ||||||||
5.250% 5/30/25 | 590,000 | 676,709 | ||||||
Enstar Group Ltd. | ||||||||
4.500% 3/10/22 | 370,000 | 385,484 | ||||||
4.950% 6/01/29 | 350,000 | 392,195 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Equitable Holdings, Inc. | ||||||||
5.000% 4/20/48 | $ | 225,000 | $ | 265,957 | ||||
Markel Corp. | ||||||||
3.350% 9/17/29 | 130,000 | 143,535 | ||||||
New York Life Insurance Co. | ||||||||
3.750% 5/15/50 (c) | 125,000 | 140,928 | ||||||
The Progressive Corp. 3 mo. USD LIBOR + 2.539% | ||||||||
5.375% VRN (d) | 375,000 | 375,000 | ||||||
Prudential Financial, Inc. | ||||||||
5 year CMT + 3.035% 3.700% VRN 10/01/50 | 85,000 | 86,726 | ||||||
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43 | 225,000 | 238,990 | ||||||
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48 | 630,000 | 712,247 | ||||||
3 mo. USD LIBOR + 4.175% 5.875% VRN 9/15/42 | 125,000 | 131,651 | ||||||
Reinsurance Group of America, Inc. | ||||||||
3.150% 6/15/30 | 290,000 | 315,734 | ||||||
3.900% 5/15/29 | 325,000 | 371,015 | ||||||
Teachers Insurance & Annuity Association of America | ||||||||
4.270% 5/15/47 (c) | 175,000 | 204,893 | ||||||
USF&G Capital I | ||||||||
8.500% 12/15/45 (c) | 150,000 | 235,729 | ||||||
Voya Financial, Inc. 3 mo. USD LIBOR + 2.084% | ||||||||
4.700% VRN 1/23/48 | 180,000 | 180,169 | ||||||
Willis North America, Inc. | ||||||||
2.950% 9/15/29 | 180,000 | 193,964 | ||||||
4.500% 9/15/28 | 480,000 | 570,725 | ||||||
XLIT Ltd. | ||||||||
4.450% 3/31/25 | 483,000 | 546,252 | ||||||
14,635,392 | ||||||||
Internet — 0.1% | ||||||||
Alphabet, Inc. | ||||||||
2.250% 8/15/60 | 200,000 | 189,115 | ||||||
Amazon.com, Inc. | ||||||||
4.050% 8/22/47 | 325,000 | 422,243 | ||||||
611,358 | ||||||||
Investment Companies — 0.5% | ||||||||
Ares Capital Corp. | ||||||||
3.500% 2/10/23 | 710,000 | 729,292 | ||||||
BlackRock TCP Capital Corp. | ||||||||
3.900% 8/23/24 | 850,000 | 863,617 | ||||||
4.125% 8/11/22 | 470,000 | 476,689 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||||||||
6.250% 2/01/22 | 550,000 | 555,814 | ||||||
Sixth Street Specialty Lending, Inc. | ||||||||
3.875% 11/01/24 | 805,000 | 815,506 | ||||||
3,440,918 | ||||||||
Iron & Steel — 0.1% | ||||||||
Vale Overseas Ltd. | ||||||||
6.250% 8/10/26 | 275,000 | 325,187 | ||||||
6.875% 11/21/36 | 230,000 | 299,389 | ||||||
624,576 | ||||||||
Machinery – Diversified — 0.1% | ||||||||
CNH Industrial Capital LLC |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
1.950% 7/02/23 | $ | 135,000 | $ | 137,531 | ||||
3.875% 10/15/21 | 700,000 | 719,048 | ||||||
856,579 | ||||||||
Media — 0.5% | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
5.125% 5/01/27 (c) | 200,000 | 210,444 | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
6.484% 10/23/45 | 225,000 | 301,782 | ||||||
Comcast Corp. | ||||||||
3.400% 7/15/46 | 220,000 | 244,792 | ||||||
3.450% 2/01/50 | 315,000 | 355,842 | ||||||
3.969% 11/01/47 | 135,000 | 161,377 | ||||||
4.750% 3/01/44 | 190,000 | 250,331 | ||||||
Discovery Communications LLC | ||||||||
3.950% 3/20/28 | 349,000 | 397,022 | ||||||
4.000% 9/15/55 (c) | 194,000 | 196,969 | ||||||
4.650% 5/15/50 | 135,000 | 154,752 | ||||||
Grupo Televisa SAB | ||||||||
6.625% 3/18/25 | 495,000 | 596,166 | ||||||
Time Warner Cable, Inc. | ||||||||
6.750% 6/15/39 | 110,000 | 148,755 | ||||||
ViacomCBS, Inc. | ||||||||
4.200% 5/19/32 | 210,000 | 240,315 | ||||||
The Walt Disney Co. | ||||||||
3.600% 1/13/51 | 365,000 | 411,321 | ||||||
3,669,868 | ||||||||
Mining — 0.2% | ||||||||
Glencore Finance Canada Ltd. | ||||||||
5.550% STEP 10/25/42 (c) | 149,000 | 174,664 | ||||||
Glencore Funding LLC | ||||||||
3.875% 10/27/27 (c) | 160,000 | 174,461 | ||||||
4.625% 4/29/24 (c) | 600,000 | 660,991 | ||||||
Kinross Gold Corp. | ||||||||
4.500% 7/15/27 | 166,000 | 188,275 | ||||||
Teck Resources Ltd. | ||||||||
6.000% 8/15/40 | 200,000 | 226,475 | ||||||
1,424,866 | ||||||||
Miscellaneous - Manufacturing — 0.1% | ||||||||
Carlisle Cos., Inc. | ||||||||
2.750% 3/01/30 | 326,000 | 346,526 | ||||||
General Electric Co. | ||||||||
4.125% 10/09/42 | 42,000 | 42,493 | ||||||
389,019 | ||||||||
Oil & Gas — 0.8% | ||||||||
BP Capital Markets PLC 5 year CMT + 4.036% | ||||||||
4.375% VRN (d) | 360,000 | 375,300 | ||||||
Cenovus Energy, Inc. | ||||||||
4.250% 4/15/27 | 275,000 | 248,622 | ||||||
6.750% 11/15/39 | 158,000 | 158,845 | ||||||
Diamondback Energy, Inc. | ||||||||
3.250% 12/01/26 | 250,000 | 250,823 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
EQT Corp. | ||||||||
3.000% 10/01/22 | $ | 340,000 | $ | 331,925 | ||||
3.900% 10/01/27 | 1,090,000 | 1,003,481 | ||||||
7.875% STEP 2/01/25 | 395,000 | 437,838 | ||||||
Marathon Petroleum Corp. | ||||||||
4.500% 4/01/48 | 85,000 | 86,143 | ||||||
4.750% 9/15/44 | 100,000 | 104,252 | ||||||
6.500% 3/01/41 | 170,000 | 207,250 | ||||||
Newfield Exploration Co. | ||||||||
5.625% 7/01/24 | 250,000 | 242,513 | ||||||
5.750% 1/30/22 | 417,000 | 416,820 | ||||||
Occidental Petroleum Corp. | ||||||||
6.450% 9/15/36 | 250,000 | 213,125 | ||||||
6.600% 3/15/46 | 257,000 | 221,341 | ||||||
Ovintiv, Inc. | ||||||||
6.500% 2/01/38 | 80,000 | 72,651 | ||||||
Patterson-UTI Energy, Inc. | ||||||||
3.950% 2/01/28 | 410,000 | 316,886 | ||||||
Petroleos Mexicanos | ||||||||
5.350% 2/12/28 | 190,000 | 164,350 | ||||||
6.375% 1/23/45 | 80,000 | 61,320 | ||||||
6.500% 3/13/27 | 60,000 | 56,222 | ||||||
6.625% 6/15/38 | 37,000 | 29,174 | ||||||
Saudi Arabian Oil Co. | ||||||||
4.250% 4/16/39 (c) | 495,000 | 568,996 | ||||||
5,567,877 | ||||||||
Oil & Gas Services — 0.1% | ||||||||
National Oilwell Varco, Inc. | ||||||||
3.600% 12/01/29 | 385,000 | 373,939 | ||||||
3.950% 12/01/42 | 366,000 | 329,117 | ||||||
703,056 | ||||||||
Packaging & Containers — 0.1% | ||||||||
Amcor Finance USA, Inc. | ||||||||
3.625% 4/28/26 | 565,000 | 629,393 | ||||||
WRKCo, Inc. | ||||||||
3.000% 6/15/33 | 165,000 | 179,486 | ||||||
808,879 | ||||||||
Pharmaceuticals — 0.6% | ||||||||
AbbVie, Inc. | ||||||||
4.700% 5/14/45 | 490,000 | 603,338 | ||||||
Bristol-Myers Squibb Co. | ||||||||
4.350% 11/15/47 | 200,000 | 264,143 | ||||||
Cigna Corp. | ||||||||
4.800% 7/15/46 (c) | 195,000 | 244,347 | ||||||
CVS Health Corp. | ||||||||
4.300% 3/25/28 | 250,000 | 292,618 | ||||||
5.050% 3/25/48 | 230,000 | 293,574 | ||||||
6.125% 9/15/39 | 175,000 | 243,161 | ||||||
CVS Pass-Through Trust | ||||||||
5.926% 1/10/34 (c) | 243,509 | 281,812 | ||||||
McKesson Corp. | ||||||||
4.883% 3/15/44 | 60,000 | 73,492 | ||||||
6.000% 3/01/41 | 125,000 | 170,309 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Mylan NV | ||||||||
3.950% 6/15/26 | $ | 495,000 | $ | 556,890 | ||||
5.250% 6/15/46 | 320,000 | 397,153 | ||||||
Takeda Pharmaceutical Co. Ltd. | ||||||||
3.375% 7/09/60 | 245,000 | 258,093 | ||||||
Teva Pharmaceutical Finance Netherlands III BV | ||||||||
2.200% 7/21/21 | 232,000 | 229,796 | ||||||
Upjohn, Inc. | ||||||||
2.700% 6/22/30 (c) | 300,000 | 310,608 | ||||||
4,219,334 | ||||||||
Pipelines — 0.6% | ||||||||
Energy Transfer Operating LP | ||||||||
4.200% 4/15/27 | 440,000 | 455,246 | ||||||
5.875% 1/15/24 | 200,000 | 220,198 | ||||||
6.125% 12/15/45 | 200,000 | 200,758 | ||||||
3 mo. USD LIBOR + 4.028% 6.250% VRN (d) | 540,000 | 352,350 | ||||||
5 year CMT + 5.134% 6.750% VRN (d) | 240,000 | 184,800 | ||||||
EnLink Midstream Partners LP | ||||||||
4.150% 6/01/25 | 621,000 | 534,700 | ||||||
4.850% 7/15/26 | 149,000 | 128,901 | ||||||
Enterprise Products Operating LLC | ||||||||
3 mo. USD LIBOR + 3.033% 5.250% VRN 8/16/77 | 225,000 | 214,256 | ||||||
3 mo. USD LIBOR + 2.570% 5.375% VRN 2/15/78 | 195,000 | 173,550 | ||||||
EQM Midstream Partners LP | ||||||||
4.750% 7/15/23 | 500,000 | 499,025 | ||||||
MPLX LP | ||||||||
4.500% 4/15/38 | 195,000 | 199,631 | ||||||
6.250% 10/15/22 | 97,000 | 97,105 | ||||||
3 mo. USD LIBOR + 4.652% 6.875% VRN (d) | 300,000 | 245,665 | ||||||
Plains All American Pipeline LP 3 mo. USD LIBOR + 4.110% | ||||||||
6.125% VRN (d) | 585,000 | 371,124 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. | ||||||||
3.800% 9/15/30 | 280,000 | 271,511 | ||||||
4.500% 12/15/26 | 93,000 | 98,882 | ||||||
4.700% 6/15/44 | 275,000 | 243,828 | ||||||
6.650% 1/15/37 | 100,000 | 109,423 | ||||||
Sunoco Logistics Partners Operations LP | ||||||||
5.300% 4/01/44 | 75,000 | 69,877 | ||||||
4,670,830 | ||||||||
Private Equity — 0.2% | ||||||||
Apollo Management Holdings LP 5 year CMT + 3.266% | ||||||||
4.950% VRN 1/14/50 (c) | 185,000 | 184,930 | ||||||
Carlyle Finance Subsidiary LLC | ||||||||
3.500% 9/19/29 (c) | 370,000 | 400,390 | ||||||
Hercules Capital, Inc. | ||||||||
4.625% 10/23/22 | 470,000 | 475,779 | ||||||
KKR Group Finance Co. VI LLC | ||||||||
3.750% 7/01/29 (c) | 280,000 | 322,125 | ||||||
KKR Group Finance Co. VIII LLC | ||||||||
3.500% 8/25/50 (c) | 170,000 | 173,236 | ||||||
1,556,460 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Real Estate Investment Trusts (REITS) — 1.0% | ||||||||
Agree LP | ||||||||
2.900% 10/01/30 | $ | 115,000 | $ | 119,280 | ||||
American Tower Trust #1 | ||||||||
3.652% 3/15/48 (c) | 310,000 | 336,312 | ||||||
Crown Castle International Corp. | ||||||||
5.200% 2/15/49 | 71,000 | 93,433 | ||||||
Healthcare Trust of America Holdings LP | ||||||||
3.500% 8/01/26 | 495,000 | 551,010 | ||||||
Highwoods Realty LP | ||||||||
4.125% 3/15/28 | 125,000 | 137,908 | ||||||
Host Hotels & Resorts LP | ||||||||
3.500% 9/15/30 | 509,000 | 487,220 | ||||||
SBA Tower Trust | ||||||||
1.884% 7/15/50 (c) | 373,000 | 381,285 | ||||||
2.836% 1/15/50 (c) | 1,300,000 | 1,391,303 | ||||||
Service Properties Trust | ||||||||
4.500% 6/15/23 | 170,000 | 166,716 | ||||||
4.950% 10/01/29 | 265,000 | 227,237 | ||||||
Spirit Realty LP | ||||||||
3.200% 1/15/27 | 555,000 | 562,120 | ||||||
3.400% 1/15/30 | 120,000 | 119,310 | ||||||
4.000% 7/15/29 | 300,000 | 312,058 | ||||||
4.450% 9/15/26 | 59,000 | 63,309 | ||||||
Store Capital Corp. | ||||||||
4.625% 3/15/29 | 320,000 | 343,137 | ||||||
Tanger Properties LP | ||||||||
3.875% 12/01/23 | 322,000 | 323,839 | ||||||
VEREIT Operating Partnership LP | ||||||||
3.100% 12/15/29 | 635,000 | 636,110 | ||||||
3.400% 1/15/28 | 140,000 | 146,173 | ||||||
4.625% 11/01/25 | 460,000 | 508,256 | ||||||
WP Carey, Inc. | ||||||||
4.250% 10/01/26 | 185,000 | 208,863 | ||||||
7,114,879 | ||||||||
Retail — 0.2% | ||||||||
Advance Auto Parts, Inc. | ||||||||
1.750% 10/01/27 | 75,000 | 74,777 | ||||||
AutoZone, Inc. | ||||||||
1.650% 1/15/31 | 235,000 | 230,066 | ||||||
El Puerto de Liverpool SAB de CV | ||||||||
3.950% 10/02/24 (c) | 445,000 | 463,361 | ||||||
Starbucks Corp. | ||||||||
2.550% 11/15/30 | 395,000 | 419,393 | ||||||
1,187,597 | ||||||||
Semiconductors — 0.1% | ||||||||
KLA Corp. | ||||||||
3.300% 3/01/50 | 410,000 | 433,174 | ||||||
Software — 0.1% | ||||||||
Broadridge Financial Solutions, Inc. | ||||||||
2.900% 12/01/29 | 441,000 | 477,747 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Microsoft Corp. | ||||||||
4.450% 11/03/45 | $ | 330,000 | $ | 466,285 | ||||
944,032 | ||||||||
Telecommunications — 0.4% | ||||||||
AT&T, Inc. | ||||||||
1.650% 2/01/28 | 165,000 | 165,312 | ||||||
3.500% 9/15/53 (c) | 571,000 | 552,057 | ||||||
3.550% 9/15/55 (c) | 1,118,000 | 1,083,535 | ||||||
Cisco Systems, Inc. | ||||||||
5.500% 1/15/40 | 55,000 | 81,599 | ||||||
Crown Castle Towers LLC | ||||||||
4.241% 7/15/48 (c) | 250,000 | 284,894 | ||||||
Qwest Corp | ||||||||
6.750% 12/01/21 | 162,000 | 171,080 | ||||||
Telefonica Emisiones SAU | ||||||||
4.665% 3/06/38 | 180,000 | 207,456 | ||||||
Verizon Communications, Inc. | ||||||||
6.550% 9/15/43 | 149,000 | 242,539 | ||||||
2,788,472 | ||||||||
Transportation — 0.1% | ||||||||
Autoridad del Canal de Panama | ||||||||
4.950% 7/29/35 (c) | 210,000 | 261,189 | ||||||
CSX Corp. | ||||||||
4.750% 11/15/48 | 155,000 | 205,776 | ||||||
Norfolk Southern Corp. | ||||||||
4.050% 8/15/52 | 215,000 | 263,472 | ||||||
730,437 | ||||||||
TOTAL CORPORATE DEBT (Cost $94,102,661) | 100,131,787 | |||||||
Municipal Obligations — 0.1% | ||||||||
JobsOhio Beverage System Series B, Revenue Bonds, | ||||||||
4.532% 1/01/35 | 325,000 | 417,264 | ||||||
Orange County Local Transportation Authority BAB, Revenue Bonds, | ||||||||
6.908% 2/15/41 | 230,000 | 352,286 | ||||||
State of California BAB, General Obligation | ||||||||
7.600% 11/01/40 | 105,000 | 189,141 | ||||||
958,691 | ||||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $823,384) | 958,691 | |||||||
Non-U.S. Government Agency Obligations — 10.6% | ||||||||
Automobile Asset-Backed Securities — 0.5% | ||||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C | ||||||||
4.530% 3/20/23 (c) | 305,000 | 308,852 | ||||||
Carvana Auto Receivables Trust, Series 2019-4A, Class D | ||||||||
3.070% 7/15/25 (c) | 359,000 | 369,333 | ||||||
Hertz Vehicle Financing II LP | ||||||||
Series 2019-3A, Class B, 3.030% 12/26/25 (c) | 493,000 | 490,782 | ||||||
Series 2019-3A, Class C, 3.430% 12/26/25 (c) | 500,000 | 488,547 | ||||||
Series 2018-1A, Class B, 3.600% 2/25/24 (c) | 650,000 | 644,433 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
OneMain Direct Auto Receivables Trust, Series 2019-1A, Class B | ||||||||
3.950% 11/14/28 (c) | $ | 424,000 | $ | 445,635 | ||||
Santander Revolving Auto Loan Trust | ||||||||
Series 2019-A, Class B, 2.800% 1/26/32 (c) | 204,000 | 214,644 | ||||||
Series 2019-A, Class C, 3.000% 1/26/32 (c) | 126,000 | 127,571 | ||||||
Series 2019-A, Class D, 3.450% 1/26/32 (c) | 263,000 | 262,051 | ||||||
3,351,848 | ||||||||
Commercial Mortgage-Backed Securities — 1.8% | ||||||||
Aventura Mall Trust, Series 2018-AVM, Class C, | ||||||||
4.249% VRN 7/05/40 (c) (f) | 710,000 | 666,610 | ||||||
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% | ||||||||
1.502% FRN 9/15/34 (c) | 130,000 | 121,553 | ||||||
BANK | ||||||||
Series 2019-BN24, Class B, 3.455% VRN 11/15/62 (f) | 409,000 | 446,747 | ||||||
Series 2019-BN24, Class C, 3.635% VRN 11/15/62 (f) | 397,000 | 393,669 | ||||||
Series 2019-BN17, Class B, 4.128% VRN 4/15/52 (f) | 150,000 | 173,636 | ||||||
Series 2019-BN16, Class AS, 4.267% 2/15/52 | 176,250 | 209,803 | ||||||
Series 2019-BN16, Class B, 4.438% VRN 2/15/52 (f) | 136,855 | 153,020 | ||||||
Series 2018-BN14, Class C, 4.753% VRN 9/15/60 (f) | 210,000 | 213,784 | ||||||
BBCMS Mortgage Trust | ||||||||
Series 2020-C7, Class AS, 2.444% 4/15/53 | 320,000 | 336,139 | ||||||
Series 2018-CHRS, Class B, 4.409% VRN 8/05/38 (c) (f) | 350,000 | 311,206 | ||||||
Series 2018-CHRS, Class C, 4.409% VRN 8/05/38 (c) (f) | 280,000 | 229,827 | ||||||
Series 2018-CHRS, Class D, 4.409% VRN 8/05/38 (c) (f) | 210,000 | 157,980 | ||||||
BHMS Mortgage Trust | ||||||||
Series 2018-ATLS, Class A, 1 mo. USD LIBOR + 1.250% 1.402% FRN 7/15/35 (c) | 970,000 | 927,578 | ||||||
Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% 1.652% FRN 7/15/35 (c) | 850,000 | 788,397 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.852% FRN 11/15/35 (c) | 294,000 | 291,631 | ||||||
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.952% FRN 10/15/36 (c) | 371,175 | 367,721 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.152% FRN 10/15/36 (c) | 449,967 | 444,655 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750% | ||||||||
1.902% FRN 12/15/37 (c) | 224,629 | 219,646 | ||||||
Century Plaza Towers | ||||||||
Series 2019-CPT, Class D, 3.097% VRN 11/13/39 (c) (f) | 225,000 | 224,355 | ||||||
Series 2019-CPT, Class E, 3.097% VRN 11/13/39 (c) (f) | 338,000 | 319,064 | ||||||
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class C | ||||||||
3.502% 8/10/56 | 241,000 | 238,345 | ||||||
Commercial Mortgage Pass-Through Certificates | ||||||||
Series 2012-CR4, Class B, 3.703% 10/15/45 (c) | 195,000 | 127,327 | ||||||
Series 2015-CR23, Class C, 4.435% VRN 5/10/48 (f) | 140,000 | 140,944 | ||||||
Series 2014-UBS5, Class B, 4.514% VRN 9/10/47 (f) | 290,000 | 295,907 | ||||||
DBUBS Mortgage Trust, Series 2011-LC1A, Class B, | ||||||||
5.471% VRN 11/10/46 (c) (f) | 110,000 | 110,241 | ||||||
GS Mortgage Securities Trust | ||||||||
Series 2017-GS6, Class B, 3.869% 5/10/50 | 440,000 | 487,629 | ||||||
Series 2012-GC6, Class AS, 4.948% 1/10/45 (c) | 100,000 | 102,798 | ||||||
Jackson Park Trust, Series 2019-LIC, Class C, | ||||||||
3.131% VRN 10/14/39 (c) (f) | 500,000 | 516,208 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class AS | ||||||||
3.056% 8/15/49 | $ | 490,000 | $ | 521,465 | ||||
JPMBB Commercial Mortgage Securities Trust, Series 2015-C27, Class B | ||||||||
3.898% 2/15/48 | 500,000 | 529,220 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.952% FRN 5/15/36 (c) | 326,000 | 322,436 | ||||||
Manhattan West, Series 2020-1MW, Class B, | ||||||||
2.413% VRN 9/10/39 (c) (f) | 519,000 | 531,779 | ||||||
MFT Trust | ||||||||
Series 2020-ABC, Class A, 3.358% 2/10/42 (c) | 205,000 | 212,028 | ||||||
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (c) (f) | 227,000 | 230,560 | ||||||
MKT Mortgage Trust | ||||||||
Series 2020-525M, Class D, 2.941% VRN 2/12/40 (c) (f) | 109,000 | 106,583 | ||||||
Series 2020-525M, Class E, 2.941% VRN 2/12/40 (c) (f) | 213,000 | 198,818 | ||||||
Morgan Stanley Capital I Trust | ||||||||
Series 2019-L2, Class AS, 4.272% 3/15/52 | 500,000 | 587,506 | ||||||
Series 2018-H3, Class B, 4.620% VRN 7/15/51 (f) | 120,000 | 138,786 | ||||||
Series 2011-C2, Class B, 5.200% VRN 6/15/44 (c) (f) | 250,000 | 250,959 | ||||||
Wells Fargo Commercial Mortgage Trust | ||||||||
Series 2019-C49, Class AS, 4.244% 3/15/52 | 291,000 | 341,300 | ||||||
Series 2018-C45, Class AS, 4.405% VRN 6/15/51 (f) | 240,000 | 281,628 | ||||||
Series 2018-C45, Class B, 4.556% 6/15/51 | 60,000 | 65,953 | ||||||
WF-RBS Commercial Mortgage Trust, Series 2012-C8, Class B | ||||||||
4.311% 8/15/45 | 190,000 | 193,639 | ||||||
13,529,080 | ||||||||
Other Asset-Backed Securities — 5.2% | ||||||||
321 Henderson Receivables LLC | ||||||||
Series 2005-1A, Class A1, 1 mo. USD LIBOR + .230% 0.382% FRN 11/15/40 (c) | 41,051 | 39,910 | ||||||
Series 2015-1A, Class A, 3.260% 9/15/72 (c) | 41,568 | 43,245 | ||||||
522 Funding CLO I Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.250% | ||||||||
2.522% FRN 10/20/31 (c) | 310,000 | 301,878 | ||||||
AASET Trust | ||||||||
Series 2020-1A, Class A, 3.351% 1/16/40 (c) | 355,277 | 327,357 | ||||||
Series 2019-1, Class A, 3.844% 5/15/39 (c) | 463,886 | 432,272 | ||||||
Series 2017-1A, Class A, 3.967% 5/16/42 (c) | 289,117 | 261,381 | ||||||
Series 2018-2A, Class A, 4.454% 11/18/38 (c) | 295,645 | 274,970 | ||||||
Adams Outdoor Advertising LP, Series 2018-1, Class A | ||||||||
4.810% 11/15/48 (c) | 376,287 | 391,518 | ||||||
Ares CLO Ltd., Series 2019-54A, Class C, 3 mo. USD LIBOR + 2.850% | ||||||||
3.125% FRN 10/15/32 (c) | 500,000 | 500,203 | ||||||
Ascentium Equipment Receivables Trust, Series 2019-2A, Class E | ||||||||
3.780% 5/10/27 (c) | 827,000 | 828,708 | ||||||
Atlas Senior Loan Fund VII Ltd., Series 2016-7A, Class A1R, 3 mo. USD LIBOR + 1.280% | ||||||||
1.531% FRN 11/27/31 (c) | 953,952 | 937,792 | ||||||
Atrium XV, Series 15A, Class B, 3 mo. USD LIBOR + 1.750% | ||||||||
2.006% FRN 1/23/31 (c) | 250,000 | 246,860 | ||||||
Benefit Street Partners CLO V-B Ltd., Series 2018-5BA, Class A1A, 3 mo. USD LIBOR + 1.090% | ||||||||
1.362% FRN 4/20/31 (c) | 260,000 | 255,735 | ||||||
BlueMountain CLO XXV Ltd., Series 2019-25A, Class B, 3 mo. USD LIBOR + 1.800% | ||||||||
2.075% FRN 7/15/32 (c) | 500,000 | 499,339 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A | ||||||||
2.940% 5/25/29 (c) | $ | 76,565 | $ | 76,910 | ||||
CAL Funding II Ltd., Series 2018-2A, Class A | ||||||||
4.340% 9/25/43 (c) | 232,000 | 230,057 | ||||||
Capital Automotive REIT | ||||||||
Series 2014-1A, Class A, 3.660% 10/15/44 (c) | 151,164 | 150,906 | ||||||
Series 2017-1A, Class A2, 4.180% 4/15/47 (c) | 131,405 | 131,817 | ||||||
Carlyle Global Market Strategies CLO Ltd., Series 2018-4A, Class A2, 3 mo. USD LIBOR + 1.800% | ||||||||
2.072% FRN 1/20/31 (c) | 720,000 | 712,755 | ||||||
CARS-DB4 LP, Series 2020-1A, Class A3 | ||||||||
3.250% 2/15/50 (c) | 116,635 | 119,641 | ||||||
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A | ||||||||
3.967% 4/15/39 (c) | 332,506 | 307,720 | ||||||
Castlelake Aircraft Structured Trust, Series 2018-1, Class A | ||||||||
4.125% 6/15/43 (c) | 644,178 | 601,385 | ||||||
CBAM Ltd., Series 2018-6A, Class B1R, 3 mo. USD LIBOR + 2.100% | ||||||||
2.375% FRN 1/15/31 (c) | 250,000 | 250,132 | ||||||
CF Hippolyta LLC | ||||||||
Series 2020-1, Class A1, 1.690% 7/15/60 (c) | 330,000 | 333,729 | ||||||
Series 2020-1, Class B1, 2.280% 7/15/60 (c) | 128,000 | 130,236 | ||||||
CIFC Funding Ltd. | ||||||||
Series 2017-5A, Class A1, 3 mo. USD LIBOR + 1.180% 1.453% FRN 11/16/30 (c) | 340,000 | 337,015 | ||||||
Series 2020-1A, Class A1, 3 mo. USD LIBOR + 1.700% 1.942% FRN 7/15/32 (c) | 250,000 | 250,753 | ||||||
Clear Creek CLO Ltd., Series 2015-1A, Class AR, 3 mo. USD LIBOR + 1.200% | ||||||||
1.472% FRN 10/20/30 (c) | 480,000 | 474,022 | ||||||
CLI Funding LLC, Series 2019-1A, Class A | ||||||||
3.710% 5/18/44 (c) | 370,456 | 377,119 | ||||||
Crestline Denali CLO XIV Ltd., Series 2016-1A, Class A1R, 3 mo. USD LIBOR + 1.280% | ||||||||
1.536% FRN 10/23/31 (c) | 249,836 | 245,135 | ||||||
Cronos Containers Program Ltd., Series 2014-2A, Class A | ||||||||
3.270% 11/18/29 (c) | 105,556 | 105,722 | ||||||
DB Master Finance LLC | ||||||||
Series 2019-1A, Class A2II, 4.021% 5/20/49 (c) | 414,810 | 438,723 | ||||||
Series 2019-1A, Class A23, 4.352% 5/20/49 (c) | 375,210 | 410,160 | ||||||
Diamond Resorts Owner Trust, Series 2019-1A, Class A | ||||||||
2.890% 2/20/32 (c) | 512,552 | 521,203 | ||||||
Domino's Pizza Master Issuer LLC | ||||||||
Series 2019-1A, Class A2, 3.668% 10/25/49 (c) | 258,050 | 273,945 | ||||||
Series 2018-1A, Class A2I, 4.116% 7/25/48 (c) | 303,800 | 321,039 | ||||||
Series 2017-1A, Class A23, 4.118% 7/25/47 (c) | 106,975 | 114,216 | ||||||
Series 2015-1A, Class A2II, 4.474% 10/25/45 (c) | 518,400 | 551,239 | ||||||
Eaton Vance CLO Ltd., Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.750% | ||||||||
2.025% FRN 10/15/30 (c) | 700,000 | 696,557 | ||||||
Elmwood CLO Ltd. | ||||||||
Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.450% | ||||||||
1.722% FRN 4/20/31 (c) | 450,000 | 450,174 | ||||||
Series 2019-3A, Class B, 3 mo. USD LIBOR + 1.950% | ||||||||
2.225% FRN 10/15/32 (c) | 250,000 | 250,546 | ||||||
Falcon Aerospace Ltd., Series 2019-1, Class A | ||||||||
3.597% 9/15/39 (c) | 472,294 | 430,599 | ||||||
FCI Funding LLC, Series 2019-1A, Class A | ||||||||
3.630% 2/18/31 (c) | 74,651 | 75,955 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
First Franklin Mortgage Loan Trust, Series 2004-FFH4, Class M6, 1 mo. USD LIBOR + 1.725% | ||||||||
1.873% FRN 1/25/35 | $ | 420,000 | $ | 392,659 | ||||
Flatiron CLO Ltd., Series 2019-1A, Class B, 3 mo. USD LIBOR + 1.900% | ||||||||
2.180% FRN 11/16/32 (c) | 250,000 | 250,055 | ||||||
Global SC Finance SRL, Series 2014-1A, Class A1 | ||||||||
3.190% 7/17/29 (c) | 95,833 | 95,331 | ||||||
Goodgreen Trust | ||||||||
Series 2019-2A, Class A, 2.760% 10/15/54 (c) | 696,890 | 706,271 | ||||||
Series 2016-1A, Class A, 3.230% 10/15/52 (c) | 241,411 | 250,939 | ||||||
Series 2017-2A, Class A, 3.260% 10/15/53 (c) | 303,828 | 313,919 | ||||||
Series 2017-1A, Class A, 3.740% 10/15/52 (c) | 182,922 | 192,926 | ||||||
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (c) (f) | 357,964 | 380,427 | ||||||
Helios Issuer LLC, Series 2017-1A, Class A | ||||||||
4.940% 9/20/49 (c) | 211,236 | 224,863 | ||||||
Hero Funding Trust | ||||||||
Series 2016-3A, Class A1, 3.080% 9/20/42 (c) | 114,029 | 115,626 | ||||||
Series 2017-3A, Class A1, 3.190% 9/20/48 (c) | 142,799 | 147,167 | ||||||
Series 2016-4A, Class A1, 3.570% 9/20/47 (c) | 123,402 | 128,410 | ||||||
Series 2018-1A, Class A2, 4.670% 9/20/48 (c) | 274,001 | 294,021 | ||||||
Highbridge Loan Management Ltd. | ||||||||
Series 12A-18, Class B, 3 mo. USD LIBOR + 1.850% 2.122% FRN 7/18/31 (c) | 250,000 | 242,506 | ||||||
Series 13A-18, Class C, 3 mo. USD LIBOR + 2.150% 2.425% FRN 10/15/30 (c) | 350,000 | 339,032 | ||||||
Horizon Aircraft Finance Ltd. | ||||||||
Series 2019-2, Class A, 3.425% 11/15/39 (c) | 529,246 | 485,231 | ||||||
Series 2019-1, Class A, 3.721% 7/15/39 (c) | 313,990 | 293,170 | ||||||
J.G. Wentworth LLC | ||||||||
Series 2018-2A, Class A, 3.960% 10/15/75 (c) | 268,950 | 275,155 | ||||||
Series 2017-1A, Class B, 5.430% 8/15/62 (c) | 1,100,000 | 1,220,460 | ||||||
KDAC Aviation Finance Ltd., Series 2017-1A, Class A | ||||||||
4.212% 12/15/42 (c) | 335,189 | 294,422 | ||||||
KKR Financial CLO Ltd. | ||||||||
Series 24, Class A1, 3 mo. USD LIBOR + 1.360% 1.632% FRN 4/20/32 (c) | 300,000 | 297,050 | ||||||
Series 26, Class B1, 3 mo. USD LIBOR + 2.050% 2.325% FRN 7/15/32 (c) | 250,000 | 250,216 | ||||||
KREF Ltd., Series 2018-FL1, Class C, 1 mo. USD LIBOR + 2.000% | ||||||||
2.151% FRN 6/15/36 (c) | 210,000 | 203,848 | ||||||
Lunar Aircraft Ltd., Series 2020-1A, Class A | ||||||||
3.376% 2/15/45 (c) | 215,661 | 199,781 | ||||||
MACH 1 Cayman Ltd., Series 2019-1, Class A | ||||||||
3.474% 10/15/39 (c) | 459,551 | 417,992 | ||||||
Madison Park Funding Ltd. | ||||||||
Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 1.875% FRN 7/15/30 (c) | 430,000 | 422,458 | ||||||
Series 2018-29A, Class C, 3 mo. USD LIBOR + 2.200% 2.472% FRN 10/18/30 (c) | 550,000 | 535,487 | ||||||
Mosaic Solar Loans LLC | ||||||||
Series 2017-2A, Class A, 3.820% 6/22/43 (c) | 97,749 | 103,005 | ||||||
Series 2017-1A, Class A, 4.450% 6/20/42 (c) | 43,515 | 46,710 | ||||||
MP CLO III Ltd., Series 2013-1A, Class AR, 3 mo. USD LIBOR + 1.250% | ||||||||
1.522% FRN 10/20/30 (c) | 300,000 | 296,327 | ||||||
NP SPE LLC, Series 2017-1A, Class A2 | ||||||||
4.219% 10/21/47 (c) | 380,000 | 390,561 | ||||||
OHA Credit Funding Ltd. | ||||||||
Series 2019-4A, Class A1, 3 mo. USD LIBOR + 1.330% 1.588% FRN 10/22/32 (c) | 250,000 | 248,555 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2015-11A, Class CR, 3 mo. USD LIBOR + 2.150% 2.422% FRN 1/20/32 (c) | $ | 300,000 | $ | 291,896 | ||||
Series 2019-4A, Class C, 3 mo. USD LIBOR + 2.650% 2.908% FRN 10/22/32 (c) | 250,000 | 249,443 | ||||||
OneMain Financial Issuance Trust, Series 2019-2A, Class A | ||||||||
3.140% 10/14/36 (c) | 1,810,000 | 1,928,911 | ||||||
Oxford Finance Funding Trust | ||||||||
Series 2020-1A, Class A2, 3.101% 2/15/28 (c) | 353,000 | 358,046 | ||||||
Series 2016-1A, Class A, 3.968% 6/17/24 (c) | 26,879 | 26,890 | ||||||
Palmer Square CLO Ltd., Series 2015-1A, Class A2R2, 3 mo. USD LIBOR + 1.650% | ||||||||
1.897% FRN 5/21/29 (c) | 500,000 | 497,868 | ||||||
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A | ||||||||
3.967% 6/15/44 (c) | 335,979 | 310,944 | ||||||
Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2 | ||||||||
3.858% 12/05/49 (c) | 525,033 | 493,809 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | ||||||||
2.998% FRN 2/25/23 (c) | 200,000 | 195,203 | ||||||
Sierra Receivables Funding LLC, Series 2015-3A, Class B | ||||||||
3.080% 9/20/32 (c) | 11,164 | 11,153 | ||||||
Sierra Timeshare Receivables Funding LLC, Series 2020-2A, Class B | ||||||||
2.320% 7/20/37 (c) | 237,692 | 237,495 | ||||||
Stack Infrastructure Issuer LLC, Series 2020-1A, Class A2 | ||||||||
1.893% 8/25/45 (c) | 210,000 | 211,400 | ||||||
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300% | ||||||||
2.570% FRN 8/18/31 (c) | 290,000 | 270,857 | ||||||
Store Master Funding I-VII | ||||||||
Series 2019-1, Class A2, 3.650% 11/20/49 (c) | 655,559 | 665,058 | ||||||
Series 2018-1A, Class A2, 4.290% 10/20/48 (c) | 249,704 | 264,430 | ||||||
Structured Receivables Finance LLC, Series 2010-B, Class A | ||||||||
3.730% 8/15/36 (c) | 51,565 | 54,082 | ||||||
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A | ||||||||
4.870% 7/20/48 (c) | 109,787 | 118,129 | ||||||
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A | ||||||||
4.190% 1/15/71 (c) | 330,283 | 382,140 | ||||||
Taco Bell Funding LLC, Series 2018-1A, Class A2II | ||||||||
4.940% 11/25/48 (c) | 235,800 | 251,742 | ||||||
TAL Advantage VII LLC, Series 2020-1A, Class A | ||||||||
2.050% 9/20/45 (c) | 1,100,000 | 1,101,966 | ||||||
Textainer Marine Containers VII Ltd., Series 2019-1A, Class A | ||||||||
3.960% 4/20/44 (c) | 108,173 | 108,173 | ||||||
Tif Funding II LLC, Series 2020-1A, Class A | ||||||||
2.090% 8/20/45 (c) | 154,031 | 153,778 | ||||||
Trinity Rail Leasing LP | ||||||||
Series 2019-2A, Class A2, 3.100% 10/18/49 (c) | 731,000 | 712,964 | ||||||
Series 2019-1A, Class A, 3.820% 4/17/49 (c) | 826,615 | 861,103 | ||||||
Series 2018-1A, Class A2, 4.620% 6/17/48 (c) | 410,000 | 416,739 | ||||||
Triton Container Finance VIII LLC, Series 2020-1A, Class A | ||||||||
2.110% 9/20/45 (c) | 750,000 | 750,965 | ||||||
Vantage Data Centers LLC, Series 2020-2A, Class A2 | ||||||||
1.992% 9/15/45 (c) (e) | 300,000 | 300,137 | ||||||
Voya CLO Ltd., Series 2015-3A, Class A3R, 3 mo. USD LIBOR + 1.700% | ||||||||
1.972% FRN 10/20/31 (c) | 300,000 | 293,831 | ||||||
WAVE LLC, Series 2019-1A, Class A | ||||||||
3.597% 9/15/44 (c) | 899,069 | 833,949 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
WAVE Trust, Series 2017-1A, Class A | ||||||||
3.844% 11/15/42 (c) | $ | 537,773 | $ | 486,603 | ||||
Welk Resorts LLC, Series 2015-AA, Class A | ||||||||
2.790% 6/16/31 (c) | 39,137 | 38,976 | ||||||
Wendy's Funding LLC, Series 2015-1A, Class A23 | ||||||||
4.497% 6/15/45 (c) | 403,750 | 403,201 | ||||||
38,047,039 | ||||||||
Student Loans Asset-Backed Securities — 2.9% | ||||||||
CIT Education Loan Trust, Series 2005-1, Class B, 3 mo. USD LIBOR + .210% | ||||||||
0.460% FRN 6/15/43 | 595,105 | 531,097 | ||||||
College Avenue Student Loans LLC | ||||||||
Series 2019-A, Class B, 3.810% 12/28/48 (c) | 531,000 | 525,832 | ||||||
Series 2019-A, Class C, 4.460% 12/28/48 (c) | 270,000 | 267,250 | ||||||
College Loan Corp. Trust I, Series 2007-1, Class B2, 28 day ARS | ||||||||
FRN 1/25/47 | 130,000 | 103,494 | ||||||
DRB Prime Student Loan Trust, Series 2016-R, Class A1, 1 mo. USD LIBOR + 1.900% | ||||||||
2.048% FRN 10/25/44 (c) | 118,235 | 118,523 | ||||||
ECMC Group Student Loan Trust | ||||||||
Series 2018-2A, Class A, 1 mo. USD LIBOR + .800% 0.948% FRN 9/25/68 (c) | 399,679 | 392,162 | ||||||
Series 2017-1A, Class A, 1 mo. USD LIBOR + 1.200% 1.348% FRN 12/27/66 (c) | 283,604 | 282,034 | ||||||
Series 2016-1A, Class A, 1 mo. USD LIBOR + 1.350% 1.498% FRN 7/26/66 (c) | 401,569 | 405,509 | ||||||
EdLinc Student Loan Funding Trust | ||||||||
Series 2017-A, Class A, Update Replacements.xls: PRIME - 1.150% 3.600% FRN 12/01/47 (c) | 290,561 | 287,128 | ||||||
Series 2012-1, Class B, 1 mo. USD LIBOR + 4.240% 4.388% FRN 11/26/40 (c) | 270,000 | 286,784 | ||||||
Goal Capital Funding Trust, Series 2006-1, Class B, 3 mo. USD LIBOR + .450% | ||||||||
0.700% FRN 8/25/42 | 116,754 | 101,489 | ||||||
KnowledgeWorks Foundation, Series 2010-1, Class A, 3 mo. USD LIBOR + .950% | ||||||||
1.200% FRN 2/25/42 | 92,492 | 90,938 | ||||||
Laurel Road Prime Student Loan Trust | ||||||||
Series 2017-B, Class BFX, 3.020% 8/25/42 (c) | 86,016 | 86,926 | ||||||
Series 2018-B, Class BFX, 3.720% 5/26/43 (c) | 76,461 | 78,204 | ||||||
Navient Private Education Loan Trust, Series 2018-BA, Class A2B, 1 mo. USD LIBOR + .720% | ||||||||
0.872% FRN 12/15/59 (c) | 137,558 | 131,705 | ||||||
Navient Private Education Refi Loan Trust | ||||||||
Series 2019-A, Class B, 3.900% 1/15/43 (c) | 284,000 | 289,699 | ||||||
Series 2018-CA, Class B, 4.220% 6/16/42 (c) | 250,000 | 252,838 | ||||||
Navient Student Loan Trust | ||||||||
Series 2016-1A, Class A, 1 mo. USD LIBOR + .700% 0.848% FRN 2/25/70 (c) | 350,693 | 341,940 | ||||||
Series 2018-2A, Class A3, 1 mo. USD LIBOR + .750% 0.898% FRN 3/25/67 (c) | 550,000 | 534,152 | ||||||
Series 2018-3A, Class A3, 1 mo. USD LIBOR + .800% 0.948% FRN 3/25/67 (c) | 750,000 | 742,588 | ||||||
Series 2019-1A, Class A2, 1 mo. USD LIBOR + .900% 1.048% FRN 12/27/67 (c) | 850,000 | 847,746 | ||||||
Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150% 1.298% FRN 3/25/66 (c) | 733,302 | 733,302 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250% 1.398% FRN 6/25/65 (c) | $ | 337,989 | $ | 337,989 | ||||
Series 2016-6A, Class A3, 1 mo. USD LIBOR + 1.300% 1.448% FRN 3/25/66 (c) | 1,100,000 | 1,109,618 | ||||||
Series 2018-4A, Class B, 1 mo. USD LIBOR + 1.300% 1.448% FRN 6/27/67 (c) | 750,000 | 703,556 | ||||||
Series 2014-1, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/48 | 220,000 | 201,673 | ||||||
Series 2014-8, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 7/26/49 | 155,000 | 143,894 | ||||||
Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 10/25/58 | 150,000 | 135,187 | ||||||
Series 2019-BA, Class B, 4.040% 12/15/59 (c) | 750,000 | 782,445 | ||||||
Nelnet Private Education Loan Trust, Series 2016-A, Class A1B | ||||||||
3.600% 12/26/40 (c) | 55,086 | 55,369 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.475% FRN 6/25/41 | 134,313 | 116,199 | ||||||
Series 2018-3A, Class A3, 1 mo. USD LIBOR + .750% 0.898% FRN 9/27/66 (c) | 600,000 | 588,583 | ||||||
Series 2005-4, Class A4R2, 28 day ARS 1.191% FRN 3/22/32 | 193,881 | 186,118 | ||||||
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/54 (c) | 150,000 | 145,177 | ||||||
Series 2019-5, Class A, 2.530% 10/25/67 (c) | 1,492,023 | 1,549,799 | ||||||
SLM Student Loan Trust | ||||||||
Series 2006-2, Class R, 0.000% 1/25/41 | 1,799 | 1,083,566 | ||||||
Series 2005-4, Class B, 3 mo. USD LIBOR + .180% 0.425% FRN 7/25/55 | 237,022 | 210,927 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.455% FRN 10/25/40 | 301,696 | 269,728 | ||||||
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.535% FRN 1/25/44 | 325,628 | 290,133 | ||||||
Series 2004-1 Class B, 3 mo. USD LIBOR + .500% 0.745% FRN 7/25/39 | 290,206 | 267,991 | ||||||
Series 2003-14, Class A7, 3 mo. USD LIBOR + .600% 0.845% FRN 10/25/65 (c) | 300,000 | 293,064 | ||||||
SMB Private Education Loan Trust | ||||||||
Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870% 1.022% FRN 7/15/36 (c) | 126,000 | 124,410 | ||||||
Series 2019-B, Class A2B, 1 mo. USD LIBOR + 1.000% 1.152% FRN 6/15/37 (c) | 1,200,000 | 1,198,009 | ||||||
Series 2020-BA, Class B, 2.760% 7/15/53 (c) | 956,000 | 929,502 | ||||||
Series 2017-A, Class B, 3.500% 6/17/41 (c) | 300,000 | 298,836 | ||||||
Series 2017-B, Class B, 3.500% 12/16/41 (c) | 150,000 | 149,559 | ||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2017-D, Class R1, 0.010% 9/25/40 (c) | 1,000,000 | 345,020 | ||||||
Series 2018-A, Class R1, 0.010% 2/25/42 (c) | 1,000,000 | 413,442 | ||||||
Series 2018-D, Class R1, 0.010% 2/25/48 (c) | 968,900 | 214,224 | ||||||
Series 2019-A, Class R1, 0.010% 6/15/48 (c) | 1,661,200 | 393,538 | ||||||
Series 2016-B, Class A1, 1 mo. USD LIBOR + 1.200% 1.348% FRN 6/25/33 (c) | 56,046 | 56,226 | ||||||
Series 2019-C, Class BFX, 3.050% 11/16/48 (c) | 646,000 | 663,601 | ||||||
Series 2017-D, Class BFX, 3.610% 9/25/40 (c) | 500,000 | 496,336 | ||||||
South Carolina Student Loan Corp., Series 2010-1, Class A3, 3 mo. USD LIBOR + 1.050% | ||||||||
1.295% FRN 10/27/36 | 169,966 | 168,894 | ||||||
21,353,953 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 0.2% | ||||||||
Countrywide Home Loans, Inc. | ||||||||
Series 2004-2, Class 1A1, 3.666% VRN 2/25/34 (f) | 15,567 | 15,029 | ||||||
Series 2003-42, Class 1A1, 3.991% VRN 9/25/33 (f) | 3,930 | 3,770 | ||||||
Deephaven Residential Mortgage Trust | ||||||||
Series 2018-1A, Class A1, 2.976% VRN 12/25/57 (c) (f) | 148,743 | 149,672 | ||||||
Series 2018-1A, Class A3, 3.202% VRN 12/25/57 (c) (f) | 42,498 | 42,518 | ||||||
Series 2019-1A, Class A3, 3.948% VRN 1/25/59 (c) (f) | 139,333 | 140,863 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
GSR Mortgage Loan Trust, Series 2004-9, Class 2A1, | ||||||||
3.490% VRN 8/25/34 (f) | $ | 5,644 | $ | 5,698 | ||||
IndyMac Index Mortgage Loan Trust, Series 2004-AR4, Class 1A, | ||||||||
3.165% VRN 8/25/34 (f) | 35,477 | 35,373 | ||||||
JP Morgan Mortgage Trust, Series 2017-1, Class A11, | ||||||||
3.500% VRN 1/25/47 (c) (f) | 297,426 | 303,196 | ||||||
Merrill Lynch Mortgage Investors, Inc. | ||||||||
Series 2003-A4, Class IA, 3.032% VRN 7/25/33 (f) | 1,970 | 1,878 | ||||||
Series 2004-A1, Class IA, 3.250% VRN 2/25/34 (f) | 1,963 | 1,938 | ||||||
PSMC Trust, Series 2018-2, Class A1, | ||||||||
3.500% VRN 6/25/48 (c) (f) | 284,942 | 290,015 | ||||||
Sequoia Mortgage Trust | ||||||||
Series 2018-CH2, Class A3, 4.000% VRN 6/25/48 (c) (f) | 265,972 | 273,394 | ||||||
Series 2018-CH4, Class A2, 4.000% VRN 10/25/48 (c) (f) | 133,799 | 136,531 | ||||||
Series 2019-1, Class A1, 4.000% VRN 2/25/49 (c) (f) | 37,041 | 37,754 | ||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-2, Class 2A, | ||||||||
2.970% VRN 3/25/34 (f) | 15,809 | 15,691 | ||||||
Washington Mutual Mortgage Pass-Through Certificates, Series 2004-AR2, Class A, 12 mo. MTA + 1.400% | ||||||||
2.419% FRN 4/25/44 | 45,318 | 43,342 | ||||||
Wells Fargo Mortgage Backed Securities Trust, Series 2019-1, Class A1, | ||||||||
4.000% VRN 11/25/48 (c) (f) | 160,774 | 164,158 | ||||||
1,660,820 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $78,486,947) | 77,942,740 | |||||||
Sovereign Debt Obligations — 0.3% | ||||||||
Colombia Government International Bond | ||||||||
6.125% 1/18/41 | 620,000 | 795,150 | ||||||
Mexico Government International Bond | ||||||||
4.750% 3/08/44 | 824,000 | 898,572 | ||||||
6.750% 9/27/34 | 160,000 | 214,560 | ||||||
1,908,282 | ||||||||
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $1,630,907) | 1,908,282 | |||||||
U.S. Government Agency Obligations and Instrumentalities — 7.9% | ||||||||
Collateralized Mortgage Obligations — 0.1% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
Series 2617, Class Z, 5.500% 5/15/33 | 133,995 | 154,964 | ||||||
Series 2693, Class Z, 5.500% 10/15/33 | 245,045 | 278,236 | ||||||
433,200 | ||||||||
Pass-Through Securities — 7.6% | ||||||||
Federal Home Loan Mortgage Corp. | ||||||||
Pool #RA2483 3.500% 6/01/50 | 2,544,709 | 2,710,308 | ||||||
Pool #C55867 7.500% 2/01/30 | 24,937 | 28,111 | ||||||
Pool #C01079 7.500% 10/01/30 | 3,707 | 4,350 | ||||||
Pool #C01135 7.500% 2/01/31 | 14,720 | 17,168 | ||||||
Pool #C00470 8.000% 8/01/26 | 9,077 | 10,208 | ||||||
Pool #G00924 8.000% 3/01/28 | 8,423 | 9,471 | ||||||
Federal National Mortgage Association | ||||||||
Pool #MA3029 3.000% 6/01/32 | 637,262 | 671,715 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | |||||||
Pool #MA3090 3.000% 8/01/32 | $ | 273,042 | $ | 287,804 | ||||
Pool #725692 1 year CMT + 2.137% 3.138% FRN 10/01/33 | 22,485 | 23,552 | ||||||
Pool #888586 1 year CMT + 2.196% 3.326% FRN 10/01/34 | 47,383 | 49,931 | ||||||
Pool #AS1304 3.500% 12/01/28 | 150,985 | 162,352 | ||||||
Pool #AV1897 3.500% 12/01/28 | 25,733 | 27,670 | ||||||
Pool #AV2325 3.500% 12/01/28 | 81,830 | 87,991 | ||||||
Pool #MA1356 3.500% 2/01/43 | 1,183,563 | 1,284,626 | ||||||
Pool #CA6096 3.500% 6/01/50 | 2,330,810 | 2,505,069 | ||||||
Pool #FM4017 3.500% 8/01/50 | 199,704 | 211,514 | ||||||
Pool #CA1909 4.500% 6/01/48 | 1,100,805 | 1,191,926 | ||||||
Pool #AD6437 5.000% 6/01/40 | 56,661 | 64,944 | ||||||
Pool #AD6996 5.000% 7/01/40 | 372,608 | 427,073 | ||||||
Pool #AL8173 5.000% 2/01/44 | 148,326 | 168,756 | ||||||
Pool #564594 7.000% 1/01/31 | 8,366 | 9,615 | ||||||
Pool #572844 7.000% 4/01/31 | 19,217 | 22,571 | ||||||
Pool #253795 7.000% 5/01/31 | 29,734 | 34,676 | ||||||
Pool #499386 7.500% 9/01/29 | 1,009 | 1,172 | ||||||
Pool #521006 7.500% 12/01/29 | 394 | 462 | ||||||
Pool #522769 7.500% 12/01/29 | 55 | 64 | ||||||
Pool #252981 7.500% 1/01/30 | 4,828 | 5,613 | ||||||
Pool #524317 7.500% 3/01/30 | 903 | 1,061 | ||||||
Pool #530520 7.500% 3/01/30 | 9,039 | 10,392 | ||||||
Pool #253183 7.500% 4/01/30 | 1,733 | 2,015 | ||||||
Pool #253265 7.500% 5/01/30 | 925 | 1,076 | ||||||
Pool #536949 8.000% 5/01/30 | 1,253 | 1,479 | ||||||
Pool #535351 8.000% 6/01/30 | 1,822 | 2,124 | ||||||
Pool #253481 8.000% 10/01/30 | 1,251 | 1,467 | ||||||
Pool #190317 8.000% 8/01/31 | 543 | 635 | ||||||
Pool #602008 8.000% 8/01/31 | 1,908 | 2,231 | ||||||
Government National Mortgage Association I | ||||||||
Pool #337539 7.000% 7/15/23 | 126 | 133 | ||||||
Pool #363066 7.000% 8/15/23 | 2,030 | 2,135 | ||||||
Pool #354674 7.000% 10/15/23 | 1,530 | 1,612 | ||||||
Pool #352021 7.000% 11/15/23 | 972 | 1,022 | ||||||
Government National Mortgage Association II | ||||||||
Pool# MA6656 3.000% 5/20/50 | 2,412,332 | 2,531,567 | ||||||
Pool# MA6710 3.000% 6/20/50 | 2,427,318 | 2,552,603 | ||||||
Pool #MA4321 3.500% 3/20/47 | 1,677,691 | 1,794,659 | ||||||
Government National Mortgage Association II TBA | ||||||||
Pool #548 3.000% 8/01/49 (e) | 575,000 | 601,998 | ||||||
Pool #1635 3.500% 6/01/49 (e) | 16,430,000 | 17,302,844 | ||||||
Uniform Mortgage Backed Securities TBA | ||||||||
Pool #505 2.000% 5/01/35 (e) | 8,525,000 | 8,862,003 | ||||||
Pool #1082 2.000% 4/01/50 (e) | 3,850,000 | 3,981,141 | ||||||
Pool #17115 3.500% 4/01/49 (e) | 7,300,000 | 7,695,797 | ||||||
Pool #21133 4.500% 9/01/48 (e) | 575,000 | 621,943 | ||||||
55,990,649 | ||||||||
Whole Loans — 0.2% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
Series 2020-DNA3, Class M1, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/50 (c) | 650,000 | 651,093 | ||||||
Series 2019-DNA3, Class M2, 1 mo. USD LIBOR + 2.050% 2.198% FRN 7/25/49 (c) | 253,097 | 247,942 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | |||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2019-R01, Class 2M2, 1 mo. USD LIBOR + 2.450% | ||||||||
2.598% FRN 7/25/31 (c) | $ | 338,557 | $ | 335,926 | ||||
1,234,961 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $57,478,910) | 57,658,810 | |||||||
U.S. Treasury Obligations — 1.0% | ||||||||
U.S. Treasury Bonds & Notes — 1.0% | ||||||||
U.S. Treasury Bond | ||||||||
2.250% 8/15/49 (g) | 1,890,000 | 2,253,231 | ||||||
3.500% 2/15/39 (g) | 2,120,000 | 2,978,432 | ||||||
U.S. Treasury Note | ||||||||
0.375% 4/30/25 | 2,400,000 | 2,414,284 | ||||||
7,645,947 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $7,192,522) | 7,645,947 | |||||||
TOTAL BONDS & NOTES (Cost $239,715,331) | 246,246,257 | |||||||
TOTAL PURCHASED OPTIONS (#) — 0.1% (Cost $607,842) | 398,474 | |||||||
Number of Shares | ||||||||
Rights — 0.0% | ||||||||
Consumer, Non-cyclical — 0.0% | ||||||||
Pharmaceuticals — 0.0% | ||||||||
Bristol-Myers Squibb Co., Expires 3/31/21 (a) | 25,576 | 57,546 | ||||||
TOTAL RIGHTS (Cost $54,477) | 57,546 | |||||||
Warrants — 0.0% | ||||||||
Energy — 0.0% | ||||||||
Oil & Gas — 0.0% | ||||||||
Occidental Petroleum Corp., Expires 8/03/27 (a) | 453 | 1,359 | ||||||
TOTAL WARRANTS (Cost $2,242) | 1,359 | |||||||
Mutual Funds — 0.0% | ||||||||
Diversified Financial Services — 0.0% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (h) | 341,438 | 341,438 | ||||||
TOTAL MUTUAL FUNDS (Cost $341,438) | 341,438 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $556,674,270) | 731,431,001 |
MML Blend Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 5.7% | ||||||||
Commercial Paper — 5.2% | ||||||||
American Electric Power Co., Inc. | ||||||||
0.152% 10/27/20 (c) | $ | 1,000,000 | $ | 999,858 | ||||
American Honda Finance Corp. | ||||||||
0.315% 11/19/20 | 3,000,000 | 2,998,929 | ||||||
Avangrid, Inc. | ||||||||
0.223% 12/07/20 (c) | 2,000,000 | 1,999,188 | ||||||
Bemis Co., Inc. | ||||||||
0.142% 10/05/20 (c) | 1,000,000 | 999,981 | ||||||
0.172% 10/15/20 (c) | 2,000,000 | 1,999,850 | ||||||
BPCE SA | ||||||||
0.203% 10/28/20 (c) | 3,000,000 | 2,999,778 | ||||||
Dominion Resources, Inc. | ||||||||
0.203% 10/13/20 | 3,000,000 | 2,999,811 | ||||||
Duke Energy Corp. | ||||||||
0.223% 10/02/20 (c) | 2,000,000 | 1,999,990 | ||||||
0.223% 1/05/21 (c) | 1,000,000 | 999,356 | ||||||
Harley-Davidson Funding Corp. | ||||||||
0.304% 10/19/20 (c) | 2,000,000 | 1,999,779 | ||||||
Intercontinental Exchange, Inc. | ||||||||
0.376% 11/13/20 (c) (i) | 1,000,000 | 999,557 | ||||||
0.376% 12/03/20 (c) (i) | 2,000,000 | 1,998,674 | ||||||
Keurig Dr Pepper, Inc. | ||||||||
0.193% 10/13/20 (c) | 3,000,000 | 2,999,810 | ||||||
NRW. Bank | ||||||||
0.162% 11/03/20 (c) | 3,000,000 | 2,999,660 | ||||||
Nutrien Ltd. | ||||||||
0.213% 12/21/20 (c) | 3,000,000 | 2,998,463 | ||||||
Societe Generale SA | ||||||||
0.081% 10/06/20 (c) | 1,000,000 | 999,983 | ||||||
Spire, Inc. | ||||||||
0.152% 10/15/20 (c) | 1,000,000 | 999,925 | ||||||
0.183% 10/13/20 (c) | 2,000,000 | 1,999,874 | ||||||
Suncor Energy, Inc. | ||||||||
0.223% 11/23/20 (c) | 2,000,000 | 1,999,382 | ||||||
37,991,848 | ||||||||
Repurchase Agreement — 0.4% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (j) | 2,957,601 | 2,957,601 | ||||||
U.S. Treasury Bill — 0.1% | ||||||||
U.S. Treasury Bill | ||||||||
0.000% 10/06/20 | 1,000,000 | 999,991 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $41,949,082) | 41,949,440 | |||||||
TOTAL INVESTMENTS — 105.6% (Cost $598,623,352) (k) | 773,380,441 | |||||||
Other Assets/(Liabilities) — (5.6)% | (41,126,795 | ) | ||||||
NET ASSETS — 100.0% | $ | 732,253,646 |
MML Blend Fund — Portfolio of Investments (Continued) |
Abbreviation Legend
ARS | Auction Rate Security |
BAB | Build America Bonds |
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) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2020, was $1,032,152 or 0.14% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $717,741 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 September 30, 2020, the aggregate market value of these securities amounted to $123,666,257 or 16.89% of net assets. |
(d) | Security is perpetual and has no stated maturity date. |
(e) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(f) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at September 30, 2020. |
(g) | A portion of this security is pledged/held as collateral for open derivatives. |
(h) | Represents investment of security lending cash collateral. (Note 2). |
(i) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2020, these securities amounted to a value of $2,998,231 or 0.41% of net assets. |
(j) | Maturity value of $2,957,601. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $3,016,793. |
(k) | See Note 3 for aggregate cost for federal tax purposes. |
MML Blend 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, 2/02/43 | Credit Suisse International | 1/31/33 | 3-Month USD LIBOR BBA | Quarterly | 2.61% | Semi-Annually | USD | 748,250 | $ | 102,959 | $ | 35,916 | $ | 67,043 | |||||||||||
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 | 11,940,000 | $ | 295,515 | $ | 571,926 | $ | (276,411 | ) | ||||||||||
$ | 398,474 | $ | 607,842 | $ | (209,368 | ) |
Futures contracts
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||||
Long | ||||||||||||||
U.S. Treasury Long Bond | 12/21/20 | 17 | $ | 3,000,515 | $ | (3,734 | ) | |||||||
U.S. Treasury Ultra Bond | 12/21/20 | 61 | 13,725,893 | (195,330 | ) | |||||||||
U.S. Treasury Note 2 Year | 12/31/20 | 194 | 42,849,982 | 16,440 | ||||||||||
U.S. Treasury Note 5 Year | 12/31/20 | 50 | 6,299,477 | 2,086 | ||||||||||
$ | (180,538 | ) | ||||||||||||
Short | ||||||||||||||
90 Day Eurodollar | 12/14/20 | 2 | $ | (487,568 | ) | $ | (11,207 | ) | ||||||
U.S. Treasury Ultra 10 Year | 12/21/20 | 12 | (1,915,012 | ) | (4,051 | ) | ||||||||
90 Day Eurodollar | 3/15/21 | 2 | (487,743 | ) | (11,282 | ) | ||||||||
90 Day Eurodollar | 9/13/21 | 4 | (975,637 | ) | (22,463 | ) | ||||||||
90 Day Eurodollar | 3/14/22 | 4 | (975,337 | ) | (22,463 | ) | ||||||||
90 Day Eurodollar | 9/19/22 | 3 | (731,203 | ) | (16,997 | ) | ||||||||
90 Day Eurodollar | 3/13/23 | 3 | (730,753 | ) | (17,147 | ) | ||||||||
90 Day Eurodollar | 12/18/23 | 4 | (973,436 | ) | (22,664 | ) | ||||||||
90 Day Eurodollar | 12/16/24 | 10 | (2,430,591 | ) | (54,784 | ) | ||||||||
$ | (183,058 | ) |
Centrally Cleared Credit Default Swaps - Buy Protection | |||||||||||||||||||
Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 1,000,000 | $ | (20,841 | ) | $ | (24,501 | ) | $ | 3,660 | ||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 1,100,000 | (22,925 | ) | (26,286 | ) | 3,361 | |||||||||
$ | (43,766 | ) | $ | (50,787 | ) | $ | 7,021 |
† | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
Currency Legend
USD | U.S. Dollar |
MML Dynamic Bond Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Principal Amount |
Value | ||||||
BONDS & NOTES — 98.8% | |||||||
BANK LOANS — 3.5% | |||||||
Advertising — 0.0% | |||||||
Clear
Channel Outdoor Holdings, Inc., Term Loan B, 3 mo. LIBOR + 3.500% 3.761% VRN 8/21/26 |
$ | 9,900 | $ | 8,987 | |||
Terrier
Media Buyer, Inc., Term Loan B, 1 mo. LIBOR + 4.250% 4.397% VRN 12/17/26 |
59,550 | 57,997 | |||||
66,984 | |||||||
Aerospace & Defense — 0.0% | |||||||
TransDigm,
Inc., 2020 Term Loan F, 1 mo. LIBOR + 2.250% 2.397% VRN 12/09/25 |
170,450 | 160,862 | |||||
Airlines — 0.0% | |||||||
American
Airlines, Inc., 2017 Incremental Term Loan, 1 mo. LIBOR + 2.000% 2.152% VRN 12/15/23 |
74,853 | 60,937 | |||||
Kestrel
Bidco Inc., Term Loan B, 6 mo. LIBOR + 3.000% 4.000% VRN 12/11/26 |
69,413 | 59,993 | |||||
120,930 | |||||||
Auto Parts & Equipment — 0.0% | |||||||
Clarios
Global LP, USD Term Loan B, 1 mo. LIBOR + 3.500% 3.647% VRN 4/30/26 |
39,600 | 38,523 | |||||
Automotive & Parts — 0.1% | |||||||
Tempo
Acquisition LLC, 2020 Extended Term Loan, 1 mo. LIBOR + 3.250% 3.750% VRN 11/02/26 |
202,275 | 195,891 | |||||
Biotechnology — 0.0% | |||||||
Aldevron
LLC, 2019 Term Loan B, 1 mo. LIBOR + 4.250% 5.250% VRN 10/12/26 |
109,475 | 109,429 | |||||
Chemicals — 0.1% | |||||||
Axalta
Coating Systems US Holdings, Inc., USD Term Loan B3, 3 mo. LIBOR + 1.750% 1.970% VRN 6/01/24 |
274,958 | 268,134 | |||||
GrafTech
Finance, Inc., 2018 Term Loan B, 1 mo. LIBOR + 3.500% 4.500% VRN 2/12/25 |
40,228 | 39,658 | |||||
307,792 | |||||||
Commercial Services — 0.1% | |||||||
AlixPartners
LLP, 2017 Term Loan B, 1 mo. LIBOR + 2.500% 2.647% VRN 4/04/24 |
222,845 | 217,100 | |||||
Allied
Universal Holdco LLC, 2019 Term Loan B, 1 mo. LIBOR + 4.250% 4.397% VRN 7/10/26 |
129,025 | 127,459 | |||||
Mister
Car Wash Holdings, Inc., 2019 Term Loan B, 0.000% 5/14/26 (a) |
64,836 | 61,165 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Prime Security Services Borrower LLC, 2019 Term Loan B1, 1 mo. LIBOR + 3.250%, 3 mo. LIBOR + 3.250%, 12 mo. LIBOR + 3.250% 4.250% VRN 9/23/26 |
$ | 64,511 | $ | 63,855 | |||
469,579 | |||||||
Computers — 0.0% | |||||||
Flexential
Intermediate Corp., 2017 1st Lien Term Loan, 3 mo. LIBOR + 3.500% 3.720% VRN 8/01/24 |
29,770 | 25,388 | |||||
Surf
Holdings, LLC, USD Term Loan, 3 mo. LIBOR + 3.500% 3.750% VRN 3/05/27 |
129,675 | 126,595 | |||||
151,983 | |||||||
Distribution & Wholesale — 0.1% | |||||||
American
Tire Distributors Holdings, Inc., 2015 Term Loan, 1 mo. LIBOR + 7.500%, 3 mo. LIBOR + 7.500% 8.500% VRN 9/02/24 |
29,699 | 25,159 | |||||
HD
Supply, Inc., Term Loan B5, 1 mo. LIBOR + 1.750% 1.897% VRN 10/17/23 |
320,101 | 318,785 | |||||
343,944 | |||||||
Diversified Financial Services — 0.1% | |||||||
Blackhawk
Network Holdings, Inc., 2018 1st Lien Term Loan, 1 mo. LIBOR + 3.000% 3.147% VRN 6/15/25 |
115,431 | 108,541 | |||||
Deerfield
Dakota Holding, LLC, 2020 USD Term Loan B, 1 mo. LIBOR + 3.750% 4.750% VRN 4/09/27 |
109,725 | 108,925 | |||||
217,466 | |||||||
Electric — 0.1% | |||||||
Calpine
Corp., Term Loan B9, 1 mo. LIBOR + 2.250% 2.400% VRN 4/05/26 |
312,300 | 303,581 | |||||
Electronics — 0.0% | |||||||
Compass
Power Generation LLC, 2018 Term Loan B, 1 mo. LIBOR + 3.500% 4.500% VRN 12/20/24 |
54,198 | 53,182 | |||||
Tech
Data Corp., ABL Term Loan, 1 mo. LIBOR + 3.500% 3.645% VRN 6/30/25 |
105,000 | 105,184 | |||||
158,366 | |||||||
Engineering & Construction — 0.0% | |||||||
Brand
Energy & Infrastructure Services, Inc., 2017 Term Loan, 3 mo. LIBOR + 4.250% 5.250% VRN 6/21/24 |
64,602 | 59,989 | |||||
Entertainment — 0.0% | |||||||
Playtika
Holding Corp., Term Loan B, 0.000% 12/10/24 (a) |
44,423 | 44,407 | |||||
Environmental Controls — 0.1% | |||||||
Filtration
Group Corp., 2018 1st Lien Term Loan, 1 mo. LIBOR + 3.000% 3.147% VRN 3/29/25 |
201,385 | 197,138 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Foods — 0.2% | |||||||
Froneri
International Ltd., 2020 USD Term Loan, 1 mo. LIBOR + 2.250% 2.397% VRN 1/31/27 |
$ | 239,400 | $ | 229,568 | |||
Hearthside
Food Solutions LLC, 2018 Term Loan B, 1 mo. LIBOR + 3.687% 3.834% VRN 5/23/25 |
49,556 | 48,018 | |||||
JBS
USA LUX SA/JBS USA Finance, Inc., 2019 Term Loan B, 1 mo. LIBOR + 2.000% 2.147% VRN 5/01/26 |
253,712 | 246,482 | |||||
United
Natural Foods, Inc., Term Loan B, 1 mo. LIBOR + 4.250% 4.397% VRN 10/22/25 |
28,564 | 27,783 | |||||
551,851 | |||||||
Gas — 0.0% | |||||||
Pacific
Gas & Electric Company, 2020 Exit Term Loan B, 3 mo. LIBOR + 4.500% 5.500% VRN 6/23/25 |
74,813 | 73,191 | |||||
Health Care – Products — 0.1% | |||||||
Sotera
Health Holdings, LLC, 2019 Term Loan, 3 mo. LIBOR + 4.500% 5.500% VRN 12/11/26 |
169,150 | 168,304 | |||||
Health Care – Services — 0.2% | |||||||
Air
Methods Corp., 2017 Term Loan B, 3 mo. LIBOR + 3.500% 4.500% VRN 4/22/24 |
54,577 | 47,610 | |||||
Envision
Healthcare Corp., 2018 1st Lien Term Loan, 1 mo. LIBOR + 3.750% 3.897% VRN 10/10/25 |
44,659 | 32,115 | |||||
Gentiva
Health Services, Inc., 2020 Term Loan, 1 mo. LIBOR + 3.250% 3.438% VRN 7/02/25 |
198,592 | 194,249 | |||||
Global
Medical Response, Inc., 2018 Term Loan B1, 3 mo. LIBOR + 3.250% 4.250% VRN 4/28/22 |
59,541 | 59,327 | |||||
RegionalCare
Hospital Partners Holdings, Inc., 2018 Term Loan B, 1 mo. LIBOR + 3.750% 3.897% VRN 11/16/25 |
110,000 | 106,700 | |||||
Select
Medical Corporation, 2017 Term Loan B, 3 mo. LIBOR + 2.500% 2.780% VRN 3/06/25 |
115,000 | 111,694 | |||||
Team
Health Holdings, Inc., 1st Lien Term Loan, 1 mo. LIBOR + 2.750% 3.750% VRN 2/06/24 |
24,807 | 20,741 | |||||
572,436 | |||||||
Household Products & Wares — 0.0% | |||||||
Diamond
(BC) B.V., USD Term Loan, 3 mo. LIBOR + 3.000% 3.261% VRN 9/06/24 |
74,338 | 69,320 | |||||
Kronos
Acquisition Holdings, Inc., 2015 Term Loan B, 3 mo. LIBOR + 4.000% 5.000% VRN 5/15/23 |
49,938 | 49,552 | |||||
118,872 | |||||||
Insurance — 0.2% | |||||||
Acrisure
LLC, 2020 Term Loan B, 1 mo. LIBOR + 3.500% 3.647% VRN 2/15/27 |
123,742 | 119,256 | |||||
AssuredPartners,
Inc., 2020 Term Loan B, 1 mo. LIBOR + 3.500% 3.647% VRN 2/12/27 |
242,459 | 235,098 | |||||
Asurion LLC | |||||||
2018
Term Loan B6, 1 mo. LIBOR + 3.000% 3.147% VRN 11/03/23 |
104,446 | 102,793 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
2017
2nd Lien Term Loan, 1 mo. LIBOR + 6.500% 6.647% VRN 8/04/25 |
$ | 46,970 | $ | 46,980 | |||
Sedgwick
Claims Management Services, Inc., 2019 Term Loan B, 1 mo. LIBOR + 4.000% 4.147% VRN 9/03/26 |
34,563 | 34,006 | |||||
538,133 | |||||||
Internet — 0.1% | |||||||
Go Daddy Operating Company, LLC | |||||||
2017
Repriced Term Loan, 1 mo. LIBOR + 1.750% 1.897% VRN 2/15/24 |
243,325 | 238,229 | |||||
2020
Term Loan B3, 1 mo. LIBOR + 2.500% 2.647% VRN 8/10/27 |
84,788 | 83,428 | |||||
ION
Trading Technologies S.a.r.l., USD Incremental Term Loan B, 3 mo. LIBOR + 4.000% 5.000% VRN 11/21/24 |
19,794 | 19,390 | |||||
Uber
Technologies, Inc., 2018 Term Loan, 1 mo. LIBOR + 4.000% 5.000% VRN 4/04/25 |
114,075 | 113,035 | |||||
Web.com
Group, Inc., 2018 Term Loan B, 1 mo. LIBOR + 3.750% 3.901% VRN 10/10/25 |
40,000 | 38,570 | |||||
492,652 | |||||||
Investment Companies — 0.1% | |||||||
Solenis
Holdings LLC, 2018 1st Lien Term Loan, 3 mo. LIBOR + 4.000% 4.256% VRN 6/26/25 |
74,429 | 72,568 | |||||
UFC
Holdings LLC, 2019 Term Loan, 6 mo. LIBOR + 3.250% 4.250% VRN 4/29/26 |
197,747 | 194,040 | |||||
266,608 | |||||||
Leisure Time — 0.0% | |||||||
ClubCorp
Holdings, Inc., 2017 Term Loan B, 3 mo. LIBOR + 2.750% 2.970% VRN 9/18/24 |
34,731 | 29,565 | |||||
Equinox
Holdings, Inc., 2017 1st Lien Term Loan, 3 mo. LIBOR + 3.000% 4.000% VRN 3/08/24 |
44,087 | 33,677 | |||||
63,242 | |||||||
Lodging — 0.1% | |||||||
Caesars Resort Collection, LLC | |||||||
2017
1st Lien Term Loan B, 1 mo. LIBOR + 2.750% 2.897% VRN 12/23/24 |
158,372 | 147,986 | |||||
2020
Term Loan, 1 mo. LIBOR + 4.500%, 3 mo. LIBOR + 4.500% 4.647% VRN 7/21/25 |
60,000 | 57,983 | |||||
Golden
Nugget, Inc., 2017 Incremental Term Loan B, 1 mo. LIBOR + 2.500%, 2 mo. LIBOR + 2.500% 3.250% VRN 10/04/23 |
154,565 | 137,399 | |||||
Hilton
Worldwide Finance LLC, 2019 Term Loan B2, 1 mo. LIBOR + 1.750% 1.898% VRN 6/22/26 |
65,000 | 62,636 | |||||
406,004 | |||||||
Machinery - Diversified — 0.1% | |||||||
Titan
Acquisition Ltd., 2018 Term Loan B, 3 mo. LIBOR + 3.000% 3.220% VRN 3/28/25 |
39,649 | 37,357 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Vertical
US Newco, Inc., USD Term Loan B, 6 mo. LIBOR + 4.250% 4.570% VRN 7/30/27 |
$ | 200,000 | $ | 198,108 | |||
235,465 | |||||||
Media — 0.2% | |||||||
Cengage
Learning, Inc., 2016 Term Loan B, 3 mo. LIBOR + 4.250% 5.250% VRN 6/07/23 |
74,302 | 61,936 | |||||
CSC
Holdings LLC, 2019 Term Loan B5, 1 mo. LIBOR + 2.500% 2.652% VRN 4/15/27 |
203,208 | 196,647 | |||||
E.W.
Scripps Co.(The), 2019 Term Loan B2, 1 mo. LIBOR + 2.500% 2.647% VRN 5/01/26 |
307,051 | 298,703 | |||||
Getty
Images, Inc., 2019 USD Term Loan B, 1 mo. LIBOR + 4.500% 4.688% VRN 2/19/26 |
34,361 | 31,955 | |||||
Radiate Holdco, LLC | |||||||
2020
Term Loan, 0.000% 9/25/26 (a) |
135,000 | 132,469 | |||||
1st
Lien Term Loan, 1 mo. LIBOR + 3.000% 3.750% VRN 2/01/24 |
99,487 | 97,715 | |||||
819,425 | |||||||
Oil & Gas Services — 0.0% | |||||||
Illuminate
Buyer, LLC, Term Loan, 1 Week LIBOR + 4.000% 4.220% VRN 6/16/27 |
85,000 | 84,203 | |||||
Packaging & Containers — 0.1% | |||||||
Charter
NEX US, Inc., Incremental Term Loan, 1 mo. LIBOR + 3.250% 3.397% VRN 5/16/24 |
49,039 | 47,762 | |||||
Flex Acquisition Co., Inc. | |||||||
2018
Incremental Term Loan, 3 mo. LIBOR + 3.250% 3.546% VRN 6/29/25 |
25,000 | 24,219 | |||||
1st
Lien Term Loan, 3 mo. LIBOR + 3.000% 4.000% VRN 12/29/23 |
72,249 | 70,533 | |||||
Graham
Packaging Company, Inc. ., Term Loan, 1 mo. LIBOR + 3.750% 4.500% VRN 8/04/27 |
80,000 | 79,433 | |||||
Klockner-Pentaplast
of America, Inc., USD 2017 Term Loan B2, 6 mo. LIBOR + 4.250% 5.250% VRN 6/30/22 |
9,834 | 9,531 | |||||
231,478 | |||||||
Pharmaceuticals — 0.1% | |||||||
HC
Group Holdings II, Inc., Term Loan B, 1 mo. LIBOR + 4.500% 4.647% VRN 8/06/26 |
154,611 | 152,936 | |||||
Parexel
International Corp., Term Loan B, 1 mo. LIBOR + 2.750% 2.897% VRN 9/27/24 |
155,000 | 148,510 | |||||
301,446 | |||||||
Pipelines — 0.0% | |||||||
Blackstone
CQP Holdco LP, Term Loan B, 3 mo. LIBOR + 3.500% 3.725% VRN 9/30/24 |
79,397 | 77,591 | |||||
Buckeye
Partners LP, 2019 Term Loan B, 1 mo. LIBOR + 2.750% 2.897% VRN 11/01/26 |
69,650 | 68,257 | |||||
145,848 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Retail — 0.1% | |||||||
Asplundh
Tree Expert LLC, Term Loan B, 3 mo. LIBOR + 2.500% 2.655% VRN 9/07/27 |
$ | 70,000 | $ | 69,869 | |||
Bass
Pro Group, LLC, Term Loan B, 3 mo. LIBOR + 5.000% 5.750% VRN 9/25/24 |
59,692 | 59,059 | |||||
IRB
Holding Corp, 2020 Term Loan B, 3 mo. LIBOR + 2.750% 3.750% VRN 2/05/25 |
153,317 | 146,140 | |||||
PetSmart,
Inc., Consenting Term Loan, 3 mo. LIBOR + 3.500% 4.500% VRN 3/11/22 |
182,661 | 182,105 | |||||
457,173 | |||||||
Software — 0.8% | |||||||
Ascend
Learning LLC, 2017 Term Loan B, 1 mo. LIBOR + 3.000% 4.000% VRN 7/12/24 |
158,242 | 155,868 | |||||
Camelot
U.S. Acquisition 1 Co., Term Loan B, 0.000% 10/30/26 (a) |
120,000 | 119,350 | |||||
Castle
US Holding Corp., USD Term Loan B, 3 mo. LIBOR + 3.750% 3.970% VRN 1/29/27 |
159,333 | 152,818 | |||||
Cornerstone
OnDemand, Inc., Term Loan B, 1 mo. LIBOR + 4.250% 4.406% VRN 4/22/27 |
90,000 | 89,756 | |||||
Cvent,
Inc., 1st Lien Term Loan, 1 mo. LIBOR + 3.750% 3.897% VRN 11/29/24 |
99,237 | 89,383 | |||||
Dun
& Bradstreet Corp. (The), Term Loan, 1 mo. LIBOR + 3.750% 3.895% VRN 2/06/26 |
154,225 | 152,451 | |||||
Finastra USA, Inc. | |||||||
USD
1st Lien Term Loan, 3 mo. LIBOR + 3.500%, 6 mo. LIBOR + 3.500% 4.500% VRN 6/13/24 |
64,019 | 59,713 | |||||
USD
2nd Lien Term Loan, 6 mo. LIBOR + 7.250% 8.250% VRN 6/13/25 |
20,000 | 18,730 | |||||
Greeneden
U.S. Holdings II, LLC, 2018 USD Term Loan B, 1 mo. LIBOR + 3.250% 3.397% VRN 12/01/23 |
153,399 | 152,888 | |||||
Hyland
Software, Inc., 2018 1st Lien Term Loan, 1 mo. LIBOR + 3.250% 4.000% VRN 7/01/24 |
223,118 | 221,956 | |||||
Milano
Acquisition Corp, Term Loan B, 0.000% 10/01/27 (a) |
125,000 | 123,437 | |||||
Mitchell
International, Inc., 2017 1st Lien Term Loan, 1 mo. LIBOR + 3.250% 3.397% VRN 11/29/24 |
148,855 | 141,987 | |||||
Project
Alpha Intermediate Holding, Inc., 2017 Term Loan B, 3 mo. LIBOR + 3.500% 4.500% VRN 4/26/24 |
188,745 | 184,970 | |||||
Solera
LLC, USD Term Loan B, 2 mo. LIBOR + 2.750% 2.938% VRN 3/03/23 |
198,442 | 194,088 | |||||
Sophia, L.P. | |||||||
2020
1st Lien Term Loan, 0.000% 10/07/27 (a) |
150,000 | 148,912 | |||||
2017
Term Loan B, 1 mo. LIBOR + 3.250% 4.250% VRN 9/30/22 |
199,597 | 198,557 | |||||
Tibco
Software, Inc., 2020 Term Loan B, 1 mo. LIBOR + 3.750% 3.900% VRN 6/30/26 |
129,638 | 126,235 | |||||
Ultimate Software Group, Inc. (The) | |||||||
Term
Loan B, 1 mo. LIBOR + 3.750% 3.897% VRN 5/04/26 |
139,083 | 137,732 | |||||
2020
Incremental Term Loan B, 3 mo. LIBOR + 4.000% 4.750% VRN 5/04/26 |
105,000 | 104,620 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
VS
Buyer, LLC, Term Loan B, 1 mo. LIBOR + 3.250% 3.397% VRN 2/28/27 |
$ | 149,300 | $ | 146,438 | |||
2,719,889 | |||||||
Telecommunications — 0.4% | |||||||
Altice
France S.A., 2018 Term Loan B13, 1 mo. LIBOR + 4.000% 4.152% VRN 8/14/26 |
154,494 | 149,775 | |||||
Avaya,
Inc., 2018 Term Loan B, 1 mo. LIBOR + 4.250% 4.401% VRN 12/15/24 |
70,000 | 69,541 | |||||
CenturyLink,
Inc., 2020 Term Loan B, 1 mo. LIBOR + 2.250% 2.397% VRN 3/15/27 |
223,872 | 214,718 | |||||
Intelsat Jackson Holdings S.A. | |||||||
2020
DIP Term Loan, 3 mo. LIBOR + 5.500% 6.500% VRN 7/13/22 (b) |
23,306 | 23,675 | |||||
2017
Term Loan B3, PRIME + 4.750% 8.000% 11/27/23 |
155,000 | 155,538 | |||||
Level
3 Financing, Inc., 2019 Term Loan B, 1 mo. LIBOR + 1.750% 1.897% VRN 3/01/27 |
250,000 | 241,952 | |||||
MLN
US HoldCo LLC, 2018 1st Lien Term Loan, 1 mo. LIBOR + 4.500% 4.656% VRN 11/30/25 |
19,798 | 16,859 | |||||
Nexstar
Broadcasting, Inc., 2019 Term Loan B4, 1 mo. LIBOR + 2.750% 2.899% VRN 9/18/26 |
196,160 | 191,584 | |||||
T-Mobile
USA, Inc., 2020 Term Loan, 1 mo. LIBOR + 3.000% 3.147% VRN 4/01/27 |
84,788 | 84,659 | |||||
Virgin
Media Bristol LLC, USD Term Loan N, 1 mo. LIBOR + 2.500% 2.652% VRN 1/31/28 |
100,000 | 96,917 | |||||
Zayo
Group Holdings, Inc., USD Term Loan, 1 mo. LIBOR + 3.000% 3.147% VRN 3/09/27 |
228,850 | 221,781 | |||||
1,466,999 | |||||||
TOTAL
BANK LOANS (Cost $12,864,397) |
12,660,083 | ||||||
CORPORATE DEBT — 24.9% | |||||||
Advertising — 0.1% | |||||||
The Interpublic Group of Cos., Inc. | |||||||
5.400% 10/01/48 | 300,000 | 353,169 | |||||
Aerospace & Defense — 0.3% | |||||||
Bombardier, Inc. | |||||||
6.000% 10/15/22 (c) | 90,000 | 83,475 | |||||
Lockheed Martin Corp. | |||||||
4.700% 5/15/46 | 315,000 | 429,245 | |||||
Northrop Grumman Corp. | |||||||
5.150% 5/01/40 | 250,000 | 336,052 | |||||
TransDigm, Inc. | |||||||
5.500% 11/15/27 | 100,000 | 96,105 | |||||
6.250% 3/15/26 (c) | 150,000 | 156,644 | |||||
6.375% 6/15/26 | 60,000 | 60,236 | |||||
8.000% 12/15/25 (c) | 15,000 | 16,312 | |||||
Triumph Group, Inc. | |||||||
7.750% 8/15/25 | 55,000 | 35,269 | |||||
1,213,338 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Agriculture — 0.4% | |||||||
Altria Group, Inc. 4.800% 2/14/29 |
$ | 475,000 | $ | 563,633 | |||
BAT Capital Corp. 3.462% 9/06/29 |
695,000 | 740,024 | |||||
Imperial Brands Finance PLC 3.500% 7/26/26 (c) |
265,000 | 286,688 | |||||
1,590,345 | |||||||
Airlines — 0.1% | |||||||
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.750% 10/20/28 (c) |
40,000 | 41,531 | |||||
Latam Finance Ltd. 6.875% 4/11/24 (c) (d) |
200,000 | 74,000 | |||||
7.000% 3/01/26 (c) (d) | 300,000 | 111,000 | |||||
Southwest Airlines Co. 4.750% 5/04/23 |
235,000 | 251,171 | |||||
477,702 | |||||||
Apparel — 0.1% | |||||||
The William Carter Co. 5.500% 5/15/25 (c) |
185,000 | 193,788 | |||||
Auto Manufacturers — 0.4% | |||||||
Ford Motor Co. 9.000% 4/22/25 |
65,000 | 74,523 | |||||
Ford Motor Credit Co. LLC 5.750% 2/01/21 |
200,000 | 201,250 | |||||
General Motors Financial Co., Inc. 3 mo. USD
LIBOR + .990% 1.294% FRN 1/05/23 |
575,000 | 568,774 | |||||
Hyundai Capital America 1.800% 10/15/25 (c) |
5,000 | 4,974 | |||||
2.650% 2/10/25 (c) | 460,000 | 473,708 | |||||
Volkswagen Group of America Finance LLC 4.250% 11/13/23 (c) |
220,000 | 241,733 | |||||
1,564,962 | |||||||
Auto Parts & Equipment — 0.0% | |||||||
Clarios Global LP/Clarios US Finance Co. 6.250% 5/15/26 (c) |
115,000 | 120,583 | |||||
Banks — 3.9% | |||||||
Banco de Credito del Peru 5 year CMT + 3.000% 3.125% VRN 7/01/30 (c) |
200,000 | 200,626 | |||||
Banco de Credito del Peru/Panama 3 mo. USD LIBOR
+ 7.043% 6.125% VRN 4/24/27 (c) |
150,000 | 157,875 | |||||
Banco de Reservas de la Republica Dominicana
7.000% 2/01/23 (c) |
200,000 | 205,500 | |||||
Banco Macro SA 5 year USD Swap + 5.463% 6.750% VRN 11/04/26 (c) |
200,000 | 153,800 | |||||
Banco Mercantil del Norte SA/Grand Cayman 10
year CMT + 5.353% 7.625% VRN (c) (e) |
400,000 | 398,760 | |||||
Banco Nacional de Panama 2.500% 8/11/30 (c) |
200,000 | 197,900 | |||||
Banco Santander SA 3 mo. USD LIBOR + 1.090% 1.346% FRN 2/23/23 |
400,000 | 400,903 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Bancolombia SA 3.000% 1/29/25 |
$ | 200,000 | $ | 200,324 | |||
Bank of America Corp. 3 mo. USD LIBOR + 1.210% 3.974% VRN 2/07/30 |
350,000 | 405,578 | |||||
Bank of Montreal 5 year USD Swap + 1.432% 3.803% VRN 12/15/32 |
300,000 | 334,376 | |||||
Bank of New Zealand 3.500% 2/20/24 (c) |
530,000 | 577,249 | |||||
The Bank of Nova Scotia 1.625% 5/01/23 |
217,000 | 222,661 | |||||
Barclays PLC 3 mo. USD LIBOR + 1.380% 1.660% FRN 5/16/24 |
425,000 | 426,158 | |||||
BDO Unibank, Inc. 2.950% 3/06/23 (c) |
300,000 | 311,261 | |||||
BNP Paribas SA SOFR + 1.507% 3.052% VRN 1/13/31 (c) |
390,000 | 418,261 | |||||
Citigroup, Inc. 3 mo. USD LIBOR + 1.100% 1.380% FRN 5/17/24 |
635,000 | 640,551 | |||||
Commonwealth Bank of Australia 4.316% 1/10/48 (c) |
505,000 | 615,965 | |||||
Credit Agricole SA 3.750% 4/24/23 (c) |
535,000 | 573,323 | |||||
Credit Suisse Group AG 3 mo. USD LIBOR + 1.240% 1.489% FRN 6/12/24 (c) |
430,000 | 433,504 | |||||
DBS Group Holdings Ltd. 5 year USD Swap + 2.390% 3.600% VRN (c) (e) |
600,000 | 603,000 | |||||
Gilex Holding Sarl 8.500% 5/02/23 (c) |
150,000 | 152,626 | |||||
8.500% 5/02/23 (c) | 150,000 | 152,626 | |||||
HSBC Holdings PLC 3 mo. USD LIBOR + 1.380% 1.629% FRN 9/12/26 |
835,000 | 827,287 | |||||
JP Morgan Chase & Co. SOFR + 2.040% 2.522% VRN 4/22/31 |
275,000 | 292,620 | |||||
Lloyds Banking Group PLC 3 mo. USD LIBOR + 1.205% 3.574% VRN 11/07/28 |
400,000 | 438,233 | |||||
Macquarie Group Ltd. 3 mo. USD LIBOR + 1.023% 3.189% VRN 11/28/23 (c) |
160,000 | 167,302 | |||||
3 mo. USD LIBOR + 1.330% 4.150% VRN 3/27/24 (c) | 280,000 | 300,166 | |||||
Malayan Banking Bhd 5 year USD Swap + 2.542% 3.905% VRN 10/29/26 (c) |
300,000 | 305,967 | |||||
Mitsubishi UFJ Financial Group, Inc. 1.412% 7/17/25 |
435,000 | 441,086 | |||||
Morgan Stanley 3 mo. USD LIBOR + 1.340% 3.591% VRN 7/22/28 |
230,000 | 258,679 | |||||
Multibank, Inc. 4.375% 11/09/22 (c) |
200,000 | 203,100 | |||||
NongHyup Bank 1.250% 7/20/25 (c) |
200,000 | 201,926 | |||||
Sumitomo Mitsui Financial Group, Inc. 3 mo.
USD LIBOR + .740% 1.013% FRN 1/17/23 |
715,000 | 718,185 | |||||
The Bank of Nova Scotia 3.400% 2/11/24 |
100,000 | 108,643 | |||||
The Goldman Sachs Group, Inc. 3 mo. USD LIBOR
+ 1.170% 1.450% FRN 5/15/26 |
565,000 | 570,492 | |||||
Union Bank of the Philippines 3.369% 11/29/22 (c) |
400,000 | 415,898 | |||||
United Overseas Bank Ltd. 5 year USD Swap + 1.654% 2.880% VRN 3/08/27 (c) |
200,000 | 203,548 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
5 year USD Swap + 1.794% 3.875% VRN (c) (e) | $ | 300,000 | $ | 306,915 | |||
Wells Fargo & Co. 3 mo. USD LIBOR + 1.170% 2.879% VRN 10/30/30 |
115,000 | 123,498 | |||||
3 mo. USD LIBOR + 1.170% 3.196% VRN 6/17/27 | 245,000 | 267,376 | |||||
13,933,748 | |||||||
Beverages — 0.3% | |||||||
Anheuser-Busch InBev Worldwide, Inc. 4.600% 4/15/48 |
440,000 | 524,676 | |||||
Constellation Brands, Inc. 2.875% 5/01/30 |
25,000 | 26,993 | |||||
3.150% 8/01/29 | 200,000 | 218,320 | |||||
Keurig Dr Pepper, Inc. 3.800% 5/01/50 |
140,000 | 161,073 | |||||
931,062 | |||||||
Biotechnology — 0.1% | |||||||
Royalty Pharma PLC 3.300% 9/02/40 (c) |
235,000 | 233,054 | |||||
Building Materials — 0.2% | |||||||
Builders FirstSource, Inc. 5.000% 3/01/30 (c) |
80,000 | 82,800 | |||||
6.750% 6/01/27 (c) | 110,000 | 117,838 | |||||
Carrier Global Corp. 3.377% 4/05/40 (c) |
310,000 | 324,794 | |||||
Griffon Corp. 5.750% 3/01/28 |
170,000 | 177,451 | |||||
Owens Corning 4.400% 1/30/48 |
175,000 | 194,897 | |||||
897,780 | |||||||
Chemicals — 0.6% | |||||||
Braskem Netherlands Finance BV 5 year CMT +
8.220% 8.500% VRN 1/23/81 (c) |
200,000 | 201,802 | |||||
CNAC HK Finbridge Co. Ltd. 3.375% 6/19/24 (c) |
200,000 | 207,790 | |||||
DuPont de Nemours, Inc. 5.419% 11/15/48 |
205,000 | 274,116 | |||||
MEGlobal Canada ULC 5.000% 5/18/25 (c) |
400,000 | 431,086 | |||||
Nutrien Ltd. 4.200% 4/01/29 |
265,000 | 315,176 | |||||
Syngenta Finance NV 5.676% 4/24/48 (c) |
200,000 | 214,394 | |||||
UPL Corp. Ltd. 3.250% 10/13/21 (c) |
200,000 | 202,506 | |||||
WR Grace & Co-Conn 4.875% 6/15/27 (c) |
165,000 | 170,395 | |||||
2,017,265 | |||||||
Coal — 0.0% | |||||||
Peabody Energy Corp. 6.000% 3/31/22 (c) |
105,000 | 60,900 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
SunCoke Energy Partners LP/SunCoke Energy Partners
Finance Corp. 7.500% 6/15/25 (c) |
$ | 120,000 | $ | 108,242 | |||
169,142 | |||||||
Commercial Services — 0.3% | |||||||
Allied Universal Holdco LLC / Allied Universal
Finance Corp. 6.625% 7/15/26 (c) |
70,000 | 74,550 | |||||
9.750% 7/15/27 (c) | 130,000 | 141,248 | |||||
Garda World Security Corp. 8.750% 5/15/25 (c) |
95,000 | 95,950 | |||||
Jaguar Holding Co. II / Pharmaceutical Product
Development LLC 5.000% 6/15/28 (c) |
50,000 | 52,187 | |||||
MPH Acquisition Holdings LLC 7.125% 6/01/24 (c) |
160,000 | 164,376 | |||||
Prime Security Services Borrower LLC / Prime
Finance, Inc. 3.375% 8/31/27 (c) |
110,000 | 105,517 | |||||
PSA Treasury Pte Ltd. 2.125% 9/05/29 (c) |
200,000 | 208,454 | |||||
Verscend Escrow Corp. 9.750% 8/15/26 (c) |
237,000 | 257,688 | |||||
1,099,970 | |||||||
Computers — 0.1% | |||||||
NetApp, Inc. 1.875% 6/22/25 |
230,000 | 238,233 | |||||
Tempo Acquisition LLC / Tempo Acquisition Finance
Corp. 6.750% 6/01/25 (c) |
190,000 | 193,916 | |||||
432,149 | |||||||
Distribution & Wholesale — 0.0% | |||||||
Performance Food Group, Inc. 5.500% 10/15/27 (c) |
115,000 | 118,450 | |||||
Diversified Financial Services — 1.7% | |||||||
AerCap Ireland Capital DAC/AerCap Global Aviation
Trust 3.500% 1/15/25 |
450,000 | 438,392 | |||||
Air Lease Corp. 3.750% 2/01/22 |
470,000 | 479,590 | |||||
Avolon Holdings Funding Ltd. 3.250% 2/15/27 (c) |
390,000 | 347,931 | |||||
Banco BTG Pactual SA 5 year CMT + 5.257% 7.750% VRN 2/15/29 (c) |
200,000 | 205,750 | |||||
BOC Aviation Ltd. 3 mo. USD LIBOR + 1.125% 1.358% FRN 9/26/23 (c) |
565,000 | 551,813 | |||||
Capital One Financial Corp. 3 mo. USD LIBOR
+ .720% 0.988% FRN 1/30/23 |
140,000 | 140,067 | |||||
Credito Real SAB de CV SOFOM ER 5 year CMT +
7.026% 9.125% VRN (c) (e) |
200,000 | 151,002 | |||||
Discover Financial Services 4.100% 2/09/27 |
570,000 | 632,112 | |||||
Global Aircraft Leasing Co. Ltd. 6.500% 9/15/24 (c) |
108,806 | 60,659 | |||||
Interoceanica IV Finance Ltd. 0.000% 11/30/25 (c) |
712,411 | 658,652 | |||||
Mexarrend SAPI de CV 10.250% 7/24/24 (c) |
200,000 | 147,500 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Nationstar Mortgage Holdings, Inc. 5.500% 8/15/28 (c) |
$ | 75,000 | $ | 74,906 | |||
Navient Corp. 5.000% 3/15/27 |
60,000 | 56,342 | |||||
NFP Corp. 6.875% 8/15/28 (c) |
70,000 | 70,866 | |||||
OneMain Finance Corp. 5.375% 11/15/29 |
55,000 | 57,200 | |||||
6.625% 1/15/28 | 120,000 | 133,176 | |||||
Operadora de Servicios Mega SA de CV Sofom ER
8.250% 2/11/25 (c) |
200,000 | 184,000 | |||||
PennyMac Financial Services, Inc. 5.375% 10/15/25 (c) |
75,000 | 75,938 | |||||
SPARC EM SPC Panama Metro Line 2 SP 0.010% 12/05/22 (c) |
190,236 | 184,293 | |||||
Synchrony Financial 3.950% 12/01/27 |
420,000 | 451,971 | |||||
The Charles Schwab Corp. 3.550% 2/01/24 |
465,000 | 507,864 | |||||
Unifin Financiera SAB de CV 5 year CMT + 6.308% 8.875% VRN (c) (e) |
600,000 | 409,500 | |||||
6,019,524 | |||||||
Electric — 3.0% | |||||||
AES Andres BV/Dominican Power Partners/Empresa
Generadora de Electricidad It 7.950% 5/11/26 (c) |
500,000 | 508,130 | |||||
AES Argentina Generacion SA 7.750% 2/02/24 (c) |
150,000 | 103,781 | |||||
AES Gener SA 5 year CMT + 4.917% 6.350% VRN 10/07/79 (c) |
200,000 | 201,750 | |||||
5 year USD Swap + 4.644% 7.125% VRN 3/26/79 (c) | 400,000 | 408,914 | |||||
AES Panama Generation Holdings SRL 4.375% 5/31/30 (c) |
200,000 | 205,250 | |||||
American Electric Power Co., Inc. 2.950% 12/15/22 |
313,000 | 327,401 | |||||
Arizona Public Service Co. 3.350% 5/15/50 |
130,000 | 143,180 | |||||
Calpine Corp. 4.625% 2/01/29 (c) |
40,000 | 39,925 | |||||
5.125% 3/15/28 (c) | 100,000 | 103,500 | |||||
DTE Energy Co. 3.800% 3/15/27 |
500,000 | 558,285 | |||||
Duke Energy Corp. 3.750% 9/01/46 |
90,000 | 102,745 | |||||
3.950% 8/15/47 | 240,000 | 283,503 | |||||
Duke Energy Progress, Inc. 4.150% 12/01/44 |
315,000 | 392,690 | |||||
Empresa Electrica Angamos SA 4.875% 5/25/29 (c) |
156,500 | 156,696 | |||||
Empresa Electrica Guacolda SA 4.560% 4/30/25 (c) |
400,000 | 327,061 | |||||
Entergy Corp. 2.800% 6/15/30 |
110,000 | 118,919 | |||||
Eversource Energy 1.650% 8/15/30 |
250,000 | 247,713 | |||||
FirstEnergy Corp. 2.250% 9/01/30 |
60,000 | 58,682 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Georgia Power Co. 2.200% 9/15/24 |
$ | 385,000 | $ | 406,153 | |||
Korea East-West Power Co. Ltd. 1.750% 5/06/25 (c) |
200,000 | 206,656 | |||||
LLPL Capital Pte Ltd. 6.875% 2/04/39 (c) |
281,700 | 324,352 | |||||
Minejesa Capital BV 4.625% 8/10/30 (c) |
400,000 | 411,044 | |||||
Monongahela Power Co. 5.400% 12/15/43 (c) |
145,000 | 204,098 | |||||
NextEra Energy Capital Holdings, Inc. 2.250% 6/01/30 |
750,000 | 776,646 | |||||
3.550% 5/01/27 | 195,000 | 220,399 | |||||
Pampa Energia SA 9.125% 4/15/29 (c) |
150,000 | 117,057 | |||||
PG&E Corp. 5.000% 7/01/28 |
45,000 | 43,650 | |||||
Pike Corp. 5.500% 9/01/28 (c) |
85,000 | 85,526 | |||||
Pinnacle West Capital Corp. 1.300% 6/15/25 |
230,000 | 233,655 | |||||
PSEG Power LLC 3.850% 6/01/23 |
340,000 | 365,797 | |||||
Sierra Pacific Power Co. 2.600% 5/01/26 |
1,000,000 | 1,089,884 | |||||
State Grid Overseas Investment Ltd. 3.125% 5/22/23 (c) |
200,000 | 210,794 | |||||
3.750% 5/02/23 (c) | 200,000 | 213,872 | |||||
Transelec SA 3.875% 1/12/29 (c) |
250,000 | 272,875 | |||||
Xcel Energy, Inc. 3.300% 6/01/25 |
1,000,000 | 1,103,560 | |||||
10,574,143 | |||||||
Electrical Components & Equipment — 0.0% | |||||||
Energizer Holdings, Inc. 4.750% 6/15/28 (c) |
110,000 | 113,839 | |||||
Electronics — 0.2% | |||||||
Arrow Electronics, Inc. 3.875% 1/12/28 |
195,000 | 216,195 | |||||
Roper Technologies, Inc. 1.750% 2/15/31 |
510,000 | 510,275 | |||||
726,470 | |||||||
Engineering & Construction — 0.2% | |||||||
Sydney Airport Finance Co. Pty Ltd. 3.375% 4/30/25 (c) |
300,000 | 317,189 | |||||
3.625% 4/28/26 (c) | 300,000 | 324,270 | |||||
641,459 | |||||||
Entertainment — 0.3% | |||||||
Caesars Entertainment, Inc. 6.250% 7/01/25 (c) |
105,000 | 109,751 | |||||
Caesars Resort Collection LLC/CRC Finco, Inc. 5.250% 10/15/25 (c) |
130,000 | 125,775 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Cedar Fair LP 5.250% 7/15/29 |
$ | 75,000 | $ | 72,000 | |||
Lions Gate Capital Holdings LLC 6.375% 2/01/24 (c) |
160,000 | 158,400 | |||||
Live Nation Entertainment, Inc. 6.500% 5/15/27 (c) |
90,000 | 97,132 | |||||
Scientific Games International, Inc. 7.250% 11/15/29 (c) |
75,000 | 76,125 | |||||
Six Flags Theme Parks, Inc. 7.000% 7/01/25 (c) |
180,000 | 191,475 | |||||
Twin River Worldwide Holdings, Inc. 6.750% 6/01/27 (c) |
110,000 | 109,436 | |||||
940,094 | |||||||
Environmental Controls — 0.1% | |||||||
GFL Environmental, Inc. 3.750% 8/01/25 (c) |
100,000 | 100,552 | |||||
4.250% 6/01/25 (c) | 80,000 | 80,800 | |||||
5.125% 12/15/26 (c) | 125,000 | 129,075 | |||||
8.500% 5/01/27 (c) | 51,000 | 55,335 | |||||
Tervita Corp. 7.625% 12/01/21 (c) |
105,000 | 95,813 | |||||
461,575 | |||||||
Foods — 0.6% | |||||||
Albertsons Cos., Inc. / Safeway, Inc. / New
Albertsons LP / Albertson's LLC 3.500% 3/15/29 (c) |
75,000 | 72,797 | |||||
4.625% 1/15/27 (c) | 95,000 | 97,203 | |||||
B&G Foods, Inc. 5.250% 9/15/27 |
50,000 | 52,166 | |||||
Campbell Soup Co. 2.375% 4/24/30 |
115,000 | 119,583 | |||||
JBS USA LUX SA/JBS USA Finance, Inc. 5.750% 6/15/25 (c) |
20,000 | 20,616 | |||||
5.875% 7/15/24 (c) | 15,000 | 15,302 | |||||
6.750% 2/15/28 (c) | 126,000 | 137,015 | |||||
Kraft Heinz Foods Co. 5.000% 7/15/35 |
40,000 | 46,060 | |||||
5.200% 7/15/45 | 115,000 | 125,722 | |||||
The Kroger Co. 3.400% 4/15/22 |
195,000 | 202,271 | |||||
Mondelez International, Inc. 1.500% 5/04/25 |
130,000 | 133,593 | |||||
1.875% 10/15/32 (f) | 240,000 | 239,563 | |||||
Pilgrim's Pride Corp. 5.875% 9/30/27 (c) |
85,000 | 87,763 | |||||
Post Holdings, Inc. 4.625% 4/15/30 (c) |
110,000 | 113,162 | |||||
Smithfield Foods, Inc. 4.250% 2/01/27 (c) |
415,000 | 453,458 | |||||
Sysco Corp. 3.300% 2/15/50 |
380,000 | 356,555 | |||||
US Foods, Inc. 6.250% 4/15/25 (c) |
15,000 | 15,881 | |||||
2,288,710 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Gas — 0.3% | |||||||
The Brooklyn Union Gas Co. 4.487% 3/04/49 (c) |
$ | 335,000 | $ | 430,548 | |||
The East Ohio Gas Co. 3.000% 6/15/50 (c) |
245,000 | 248,548 | |||||
ENN Energy Holdings Ltd. 3.250% 7/24/22 (c) |
200,000 | 205,408 | |||||
NiSource, Inc. 3.600% 5/01/30 |
110,000 | 125,342 | |||||
1,009,846 | |||||||
Health Care – Products — 0.0% | |||||||
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical
Diagnostics SA 7.250% 2/01/28 (c) |
80,000 | 83,200 | |||||
Health Care – Services — 0.4% | |||||||
Anthem, Inc. 2.375% 1/15/25 |
215,000 | 228,647 | |||||
Centene Corp. 3.000% 10/15/30 (f) |
60,000 | 61,212 | |||||
HCA, Inc. 4.125% 6/15/29 |
215,000 | 243,176 | |||||
5.375% 9/01/26 | 125,000 | 138,125 | |||||
Health Care Service Corp. 3.200% 6/01/50 (c) |
50,000 | 51,876 | |||||
LifePoint Health, Inc. 4.375% 2/15/27 (c) |
90,000 | 90,112 | |||||
6.750% 4/15/25 (c) | 55,000 | 57,887 | |||||
Radiology Partners, Inc. 9.250% 2/01/28 (c) |
95,000 | 98,800 | |||||
Select Medical Corp. 6.250% 8/15/26 (c) |
150,000 | 156,000 | |||||
Tenet Healthcare Corp. 5.125% 11/01/27 (c) |
155,000 | 159,216 | |||||
West Street Merger Sub, Inc. 6.375% 9/01/25 (c) |
145,000 | 147,870 | |||||
1,432,921 | |||||||
Home Builders — 0.0% | |||||||
Mattamy Group Corp. 4.625% 3/01/30 (c) |
120,000 | 121,512 | |||||
Home Furnishing — 0.1% | |||||||
Tempur Sealy International, Inc. 5.500% 6/15/26 |
238,000 | 247,032 | |||||
Household Products & Wares — 0.0% | |||||||
Kronos Acquisition Holdings, Inc. 9.000% 8/15/23 (c) |
105,000 | 106,444 | |||||
Insurance — 0.5% | |||||||
Alliant Holdings Intermediate LLC / Alliant
Holdings Co-Issuer 6.750% 10/15/27 (c) |
75,000 | 78,684 | |||||
Athene Global Funding 3.000% 7/01/22 (c) |
400,000 | 413,072 | |||||
Equitable Holdings, Inc. 3.900% 4/20/23 |
385,000 | 413,923 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
GTCR AP Finance, Inc. 8.000% 5/15/27 (c) |
$ | 95,000 | $ | 100,225 | |||
Prudential Financial, Inc. 3.905% 12/07/47 |
185,000 | 205,811 | |||||
Willis North America, Inc. 4.500% 9/15/28 |
360,000 | 428,044 | |||||
1,639,759 | |||||||
Internet — 0.4% | |||||||
Baidu, Inc. 3.425% 4/07/30 |
200,000 | 219,919 | |||||
Expedia, Inc. Co. 3.800% 2/15/28 |
275,000 | 277,706 | |||||
JD.com, Inc. 3.375% 1/14/30 |
400,000 | 433,364 | |||||
Tencent Holdings Ltd. 2.390% 6/03/30 (c) |
300,000 | 305,049 | |||||
Uber Technologies, Inc. 7.500% 9/15/27 (c) |
90,000 | 96,300 | |||||
1,332,338 | |||||||
Investment Companies — 0.1% | |||||||
Temasek Financial I Ltd. Co. 1.000% 10/06/30 (c) (f) |
350,000 | 344,843 | |||||
Iron & Steel — 0.2% | |||||||
CSN Islands XII Corp. 7.000% (c) (e) |
200,000 | 175,000 | |||||
POSCO 2.375% 1/17/23 (c) |
200,000 | 204,934 | |||||
2.750% 7/15/24 (c) | 200,000 | 209,352 | |||||
589,286 | |||||||
Leisure Time — 0.1% | |||||||
Carnival Corp. 11.500% 4/01/23 (c) |
30,000 | 33,619 | |||||
Viking Cruises Ltd. 13.000% 5/15/25 (c) |
30,000 | 34,725 | |||||
5.875% 9/15/27 (c) | 160,000 | 124,400 | |||||
192,744 | |||||||
Lodging — 0.1% | |||||||
Boyd Gaming Corp. 4.750% 12/01/27 |
150,000 | 147,188 | |||||
Hilton Domestic Operating Co., Inc. 5.375% 5/01/25 (c) |
20,000 | 20,886 | |||||
5.750% 5/01/28 (c) | 20,000 | 21,075 | |||||
MGM Resorts International 6.750% 5/01/25 |
135,000 | 141,484 | |||||
Wyndham Hotels & Resorts, Inc. 4.375% 8/15/28 (c) |
75,000 | 72,750 | |||||
403,383 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Machinery – Construction & Mining — 0.0% | |||||||
BWX Technologies, Inc. 4.125% 6/30/28 (c) |
$ | 50,000 | $ | 51,125 | |||
Media — 0.5% | |||||||
CCO Holdings LLC/CCO Holdings Capital Corp. 4.750% 3/01/30 (c) |
105,000 | 111,169 | |||||
Cengage Learning, Inc. 9.500% 6/15/24 (c) |
75,000 | 49,500 | |||||
Charter Communications Operating LLC/Charter
Communications Operating Capital 4.908% 7/23/25 |
325,000 | 375,772 | |||||
Comcast Corp. 1.500% 2/15/31 |
330,000 | 326,910 | |||||
3.400% 4/01/30 | 195,000 | 225,003 | |||||
Diamond Sports Group LLC/Diamond Sports Finance
Co. 5.375% 8/15/26 (c) |
65,000 | 45,988 | |||||
DISH DBS Corp. 5.875% 11/15/24 |
40,000 | 41,020 | |||||
GCI LLC 4.750% 10/15/28 (c) (f) |
90,000 | 91,126 | |||||
Gray Escrow, Inc. 7.000% 5/15/27 (c) |
145,000 | 157,200 | |||||
iHeartCommunications, Inc. 8.375% 5/01/27 |
25,000 | 24,625 | |||||
Nexstar Broadcasting, Inc. 5.625% 7/15/27 (c) |
65,000 | 68,275 | |||||
Radiate Holdco LLC / Radiate Finance, Inc. 4.500% 9/15/26 (c) |
75,000 | 74,984 | |||||
Scripps Escrow, Inc. 5.875% 7/15/27 (c) |
80,000 | 77,200 | |||||
Sirius XM Radio, Inc. 4.125% 7/01/30 (c) |
140,000 | 142,625 | |||||
1,811,397 | |||||||
Mining — 0.4% | |||||||
Anglo American Capital PLC 4.500% 3/15/28 (c) |
385,000 | 440,421 | |||||
Arconic Corp. 6.125% 2/15/28 (c) |
110,000 | 112,956 | |||||
Freeport-McMoRan, Inc. 4.625% 8/01/30 |
100,000 | 105,145 | |||||
Novelis Corp. 4.750% 1/30/30 (c) |
50,000 | 49,111 | |||||
Vedanta Resources Finance II PLC 9.250% 4/23/26 (c) |
200,000 | 149,100 | |||||
Vedanta Resources Ltd. 6.125% 8/09/24 (c) |
600,000 | 422,728 | |||||
1,279,461 | |||||||
Miscellaneous - Manufacturing — 0.1% | |||||||
Gates Global LLC / Gates Corp. 6.250% 1/15/26 (c) |
65,000 | 67,001 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
General
Electric Co. 5.875% 1/14/38 |
$ | 225,000 | $ | 263,105 | |||
330,106 | |||||||
Multi-National — 0.1% | |||||||
Banco Latinoamericano de Comercio Exterior SA
2.375% 9/14/25 (c) |
200,000 | 202,800 | |||||
Oil & Gas — 1.7% | |||||||
Apache Corp. 4.375% 10/15/28 |
60,000 | 54,900 | |||||
4.625% 11/15/25 | 40,000 | 38,125 | |||||
Canacol Energy Ltd. 7.250% 5/03/25 (c) |
200,000 | 205,502 | |||||
Cenovus Energy, Inc. 5.375% 7/15/25 |
65,000 | 62,558 | |||||
CNOOC Finance 2015 USA LLC 3.750% 5/02/23 |
370,000 | 394,690 | |||||
CNOOC Finance Ltd. 3.000% 5/09/23 |
200,000 | 209,594 | |||||
Cosan Overseas Ltd. 8.250% (c) (e) |
500,000 | 510,000 | |||||
Delek & Avner Tamar Bond Ltd. 5.082% 12/30/23 (c) |
100,000 | 101,711 | |||||
5.412% 12/30/25 (c) | 100,000 | 101,691 | |||||
Diamondback Energy, Inc. 2.875% 12/01/24 |
59,000 | 59,738 | |||||
EOG Resources, Inc. 4.375% 4/15/30 |
70,000 | 82,480 | |||||
EQT Corp. 7.875% STEP 2/01/25 |
60,000 | 66,507 | |||||
Exxon Mobil Corp. 2.610% 10/15/30 |
165,000 | 178,350 | |||||
4.227% 3/19/40 | 190,000 | 232,471 | |||||
Geopark Ltd. 6.500% 9/21/24 (c) |
200,000 | 189,500 | |||||
Gran Tierra Energy International Holdings Ltd. 6.250% 2/15/25 (c) |
400,000 | 136,004 | |||||
Gulfport Energy Corp. 6.375% 5/15/25 |
105,000 | 64,050 | |||||
Hilcorp Energy I LP / Hilcorp Finance Co. 6.250% 11/01/28 (c) |
100,000 | 91,000 | |||||
Indigo Natural Resources LLC 6.875% 2/15/26 (c) |
50,000 | 48,664 | |||||
Marathon Petroleum Corp. 5.125% 12/15/26 |
360,000 | 417,364 | |||||
Medco Bell Pte Ltd. 6.375% 1/30/27 (c) |
200,000 | 172,000 | |||||
MEG Energy Corp. 7.125% 2/01/27 (c) |
155,000 | 139,009 | |||||
Occidental Petroleum Corp. 3.500% 8/15/29 |
65,000 | 49,803 | |||||
6.625% 9/01/30 | 60,000 | 55,350 | |||||
8.000% 7/15/25 | 50,000 | 50,311 | |||||
Parkland Corp. 5.875% 7/15/27 (c) |
135,000 | 141,919 | |||||
Petrobras Global Finance BV 7.250% 3/17/44 |
100,000 | 113,950 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Petronas Capital Ltd. 3.500% 4/21/30 (c) |
$ | 200,000 | $ | 223,516 | |||
Pioneer Natural Resources Co. 1.900% 8/15/30 |
245,000 | 229,791 | |||||
PTTEP Treasury Center Co. Ltd. 2.587% 6/10/27 (c) |
200,000 | 206,464 | |||||
QEP Resources, Inc. 5.625% 3/01/26 |
165,000 | 93,637 | |||||
Reliance Industries Ltd. 5.400% 2/14/22 (c) |
500,000 | 526,801 | |||||
Sinopec Group Overseas Development 2018 Ltd. 2.700% 5/13/30 (c) |
350,000 | 368,062 | |||||
Sunoco LP / Sunoco Finance Corp. 5.500% 2/15/26 |
130,000 | 129,837 | |||||
6.000% 4/15/27 | 90,000 | 92,475 | |||||
Transocean Poseidon Ltd. 6.875% 2/01/27 (c) |
150,000 | 120,222 | |||||
Transocean, Inc. 11.500% 1/30/27 (c) |
36,000 | 14,767 | |||||
WPX Energy, Inc. 4.500% 1/15/30 |
65,000 | 63,904 | |||||
5.875% 6/15/28 | 60,000 | 62,700 | |||||
6,099,417 | |||||||
Oil & Gas Services — 0.1% | |||||||
Halliburton Co. 2.920% 3/01/30 |
125,000 | 123,172 | |||||
Schlumberger Investment SA 2.650% 6/26/30 |
110,000 | 111,048 | |||||
USA Compression Partners LP / USA Compression
Finance Corp. 6.875% 9/01/27 |
185,000 | 183,450 | |||||
417,670 | |||||||
Packaging & Containers — 0.3% | |||||||
CCL Industries, Inc. 3.050% 6/01/30 (c) |
165,000 | 176,118 | |||||
Flex Acquisition Co., Inc. 6.875% 1/15/25 (c) |
90,000 | 89,945 | |||||
Packaging Corp. of America 3.400% 12/15/27 |
215,000 | 240,149 | |||||
Silgan Holdings, Inc. 4.125% 2/01/28 |
110,000 | 112,475 | |||||
WRKCo, Inc. 3.750% 3/15/25 |
420,000 | 469,361 | |||||
1,088,048 | |||||||
Pharmaceuticals — 1.1% | |||||||
AbbVie, Inc. 4.700% 5/14/45 |
260,000 | 320,138 | |||||
Bausch Health Cos., Inc. 6.250% 2/15/29 (c) |
170,000 | 174,855 | |||||
Becton Dickinson and Co. 2.894% 6/06/22 |
610,000 | 631,600 | |||||
Bristol-Myers Squibb Co. 4.350% 11/15/47 |
355,000 | 468,854 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Cigna Corp. 3 mo. USD LIBOR + .890% 1.165% FRN 7/15/23 |
$ | 205,000 | $ | 207,118 | |||
4.900% 12/15/48 | 265,000 | 343,973 | |||||
CVS Health Corp. 5.050% 3/25/48 |
180,000 | 229,754 | |||||
Eli Lilly and Co. 2.250% 5/15/50 |
488,000 | 459,814 | |||||
Merck & Co., Inc. 3.400% 3/07/29 |
385,000 | 448,553 | |||||
Shire Acquisitions Investments Ireland DAC 2.875% 9/23/23 |
380,000 | 402,781 | |||||
Upjohn, Inc. 1.650% 6/22/25 (c) |
135,000 | 138,192 | |||||
3,825,632 | |||||||
Pipelines — 1.1% | |||||||
Antero Midstream Partners LP / Antero Midstream
Finance Corp. 5.750% 3/01/27 (c) |
54,000 | 44,685 | |||||
Cheniere Energy Partners LP 5.250% 10/01/25 |
30,000 | 30,690 | |||||
5.625% 10/01/26 | 95,000 | 98,800 | |||||
CNPC Global Capital Ltd. 1.125% 6/23/23 (c) |
200,000 | 199,844 | |||||
1.350% 6/23/25 (c) | 200,000 | 200,230 | |||||
Enable Midstream Partners LP 4.400% 3/15/27 |
170,000 | 162,924 | |||||
Energy Transfer Operating LP 4.750% 1/15/26 |
470,000 | 500,528 | |||||
EQM Midstream Partners LP 6.500% 7/01/27 (c) |
120,000 | 127,202 | |||||
Fermaca Enterprises S de RL de CV 6.375% 3/30/38 (c) |
211,835 | 226,663 | |||||
GNL Quintero SA 4.634% 7/31/29 (c) |
250,000 | 267,637 | |||||
Hess Midstream Operations LP 5.125% 6/15/28 (c) |
110,000 | 109,793 | |||||
Kinder Morgan Energy Partners LP 6.950% 1/15/38 |
300,000 | 392,598 | |||||
NuStar Logistics LP 6.375% 10/01/30 |
90,000 | 93,375 | |||||
ONEOK, Inc. 3.400% 9/01/29 |
140,000 | 137,172 | |||||
Peru LNG SRL 5.375% 3/22/30 (c) |
250,000 | 191,485 | |||||
Rattler Midstream LP 5.625% 7/15/25 (c) |
55,000 | 55,413 | |||||
Sabine Pass Liquefaction LLC 5.000% 3/15/27 |
220,000 | 248,146 | |||||
Sunoco Logistics Partners Operations LP 3.900% 7/15/26 |
750,000 | 770,136 | |||||
Targa Resources Partners LP/Targa Resources
Partners Finance Corp. 5.500% 3/01/30 (c) |
100,000 | 100,105 | |||||
Western Midstream Operating LP 4.100% STEP 2/01/25 |
75,000 | 71,438 | |||||
4,028,864 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
Real Estate — 0.1% | |||||||
Radiant Access Ltd. 4.600% (c) (e) |
$ | 200,000 | $ | 200,336 | |||
Realogy Group LLC / Realogy Co-Issuer Corp. 7.625% 6/15/25 (c) |
35,000 | 36,663 | |||||
236,999 | |||||||
Real Estate Investment Trusts (REITS) — 0.9% | |||||||
Alexandria Real Estate Equities, Inc. 4.000% 1/15/24 |
320,000 | 352,367 | |||||
American Tower Corp. 3.600% 1/15/28 |
470,000 | 527,199 | |||||
Boston Properties LP 3.400% 6/21/29 |
435,000 | 473,264 | |||||
Crown Castle International Corp. 3.650% 9/01/27 |
460,000 | 514,729 | |||||
3.700% 6/15/26 | 700,000 | 780,689 | |||||
4.000% 3/01/27 | 225,000 | 255,661 | |||||
Equinix, Inc. 1.800% 7/15/27 |
130,000 | 131,215 | |||||
ESH Hospitality, Inc. 5.250% 5/01/25 (c) |
70,000 | 70,700 | |||||
Iron Mountain, Inc. 4.500% 2/15/31 (c) |
60,000 | 60,564 | |||||
National Retail Properties, Inc. 2.500% 4/15/30 |
115,000 | 114,049 | |||||
Simon Property Group LP 2.450% 9/13/29 |
25,000 | 24,763 | |||||
VICI Properties LP / VICI Note Co., Inc. 3.750% 2/15/27 (c) |
15,000 | 14,749 | |||||
4.125% 8/15/30 (c) | 60,000 | 59,025 | |||||
3,378,974 | |||||||
Retail — 0.8% | |||||||
Asbury Automotive Group, Inc. 4.500% 3/01/28 (c) |
16,000 | 16,100 | |||||
4.750% 3/01/30 (c) | 16,000 | 16,120 | |||||
Beacon Roofing Supply, Inc. 4.875% 11/01/25 (c) |
160,000 | 156,800 | |||||
Carvana Co. 8.875% 10/01/23 (c) |
40,000 | 41,775 | |||||
CK Hutchison International 20 Ltd. 2.500% 5/08/30 (c) |
200,000 | 209,742 | |||||
Costco Wholesale Corp. 1.750% 4/20/32 |
75,000 | 76,948 | |||||
Dollar Tree, Inc. 4.000% 5/15/25 |
375,000 | 423,063 | |||||
Golden Nugget, Inc. 6.750% 10/15/24 (c) |
175,000 | 146,125 | |||||
Group 1 Automotive, Inc. 4.000% 8/15/28 (c) |
25,000 | 24,563 | |||||
The Home Depot, Inc. 3.900% 6/15/47 |
220,000 | 271,622 | |||||
IRB Holding Corp. 6.750% 2/15/26 (c) |
120,000 | 120,000 | |||||
7.000% 6/15/25 (c) | 60,000 | 63,975 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount |
Value | ||||||
McDonald's Corp. 3.600% 7/01/30 |
$ | 205,000 | $ | 239,049 | |||
4.450% 3/01/47 | 190,000 | 236,943 | |||||
PetSmart, Inc. 5.875% 6/01/25 (c) |
39,000 | 39,920 | |||||
7.125% 3/15/23 (c) | 75,000 | 75,656 | |||||
Staples, Inc. 7.500% 4/15/26 (c) |
115,000 | 106,278 | |||||
Target Corp. 3.375% 4/15/29 |
405,000 | 470,893 | |||||
Yum! Brands, Inc. 3.625% 3/15/31 |
135,000 | 135,000 | |||||
2,870,572 | |||||||
Semiconductors — 0.5% | |||||||
Broadcom, Inc. 3.150% 11/15/25 |
345,000 | 373,679 | |||||
Lam Research Corp. 2.875% 6/15/50 |
185,000 | 191,251 | |||||
Marvell Technology Group Ltd. 4.200% 6/22/23 |
385,000 | 415,666 | |||||
Micron Technology, Inc. 2.497% 4/24/23 |
190,000 | 197,306 | |||||
NXP BV / NXP Funding LLC / NXP USA, Inc. 3.875% 6/18/26 (c) |
190,000 | 212,856 | |||||
Texas Instruments, Inc. 1.750% 5/04/30 |
105,000 | 108,305 | |||||
Xilinx, Inc. 2.375% 6/01/30 |
220,000 | 230,954 | |||||
1,730,017 | |||||||
Software — 0.1% | |||||||
Activision Blizzard, Inc. 1.350% 9/15/30 |
100,000 | 97,754 | |||||
BY Crown Parent LLC / BY Bond Finance, Inc. 4.250% 1/31/26 (c) |
50,000 | 50,906 | |||||
Oracle Corp. 3.850% 4/01/60 |
265,000 | 312,837 | |||||
461,497 | |||||||
Telecommunications — 1.0% | |||||||
AT&T, Inc. 3.500% 9/15/53 (c) |
729,000 | 704,815 | |||||
Avaya, Inc. 6.125% 9/15/28 (c) |
80,000 | 81,568 | |||||
CenturyLink, Inc. 4.000% 2/15/27 (c) |
85,000 | 86,352 | |||||
5.125% 12/15/26 (c) | 105,000 | 107,876 | |||||
Corning, Inc. 4.375% 11/15/57 |
180,000 | 217,947 | |||||
Digicel Group 0.5 Ltd. 7.000% (c) (e) |
76,581 | 9,190 | |||||
8.000% 4/01/25 (c) | 51,222 | 17,928 | |||||
Front Range BidCo, Inc. 4.000% 3/01/27 (c) |
90,000 | 88,580 | |||||
6.125% 3/01/28 (c) | 50,000 | 51,610 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal | Value | |||||||
Frontier
Communications Corp. 8.000% 4/01/27 (c) (d) | $ | 105,000 | $ | 104,637 | ||||
Gogo
Intermediate Holdings LLC / Gogo Finance Co., Inc. 9.875% 5/01/24 (c) | 75,000 | 80,175 | ||||||
GTT
Communications, Inc. 7.875% 12/31/24 (c) | 50,000 | 25,750 | ||||||
Intelsat
Jackson Holdings SA 8.500% 10/15/24 (c) (d) | 85,000 | 54,825 | ||||||
Level
3 Financing, Inc. 4.250% 7/01/28 (c) | 165,000 | 167,528 | ||||||
Ooredoo
International Finance Ltd. 3.250% 2/21/23 (c) | 400,000 | 417,840 | ||||||
T-Mobile
USA, Inc. 1.500% 2/15/26 (c) | 50,000 | 50,386 | ||||||
2.550% 2/15/31 (c) | 500,000 | 517,305 | ||||||
3.500% 4/15/25 (c) | 220,000 | 241,406 | ||||||
Telesat
Canada/telesat L 6.500% 10/15/27 (c) | 40,000 | 40,288 | ||||||
Verizon
Communications, Inc. 4.400% 11/01/34 | 485,000 | 604,637 | ||||||
3,670,643 | ||||||||
Toys, Games & Hobbies — 0.1% | ||||||||
Hasbro,
Inc. 3.500% 9/15/27 | 250,000 | 260,213 | ||||||
Transportation — 0.6% | ||||||||
Burlington
Northern Santa Fe LLC 3.050% 2/15/51 | 215,000 | 236,765 | ||||||
CSX
Corp. 3.800% 11/01/46 | 400,000 | 466,102 | ||||||
Empresa
de Transporte de Pasajeros Metro SA 5.000% 1/25/47 (c) | 750,000 | 935,625 | ||||||
FedEx
Corp. 4.750% 11/15/45 | 195,000 | 241,268 | ||||||
Fideicomiso
PA Pacifico Tres 8.250% 1/15/35 (c) | 200,000 | 232,000 | ||||||
Mileage
Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd. 6.500% 6/20/27 (c) | 100,000 | 104,125 | ||||||
2,215,885 | ||||||||
Trucking & Leasing — 0.1% | ||||||||
Penske
Truck Leasing Co. LP/PTL Finance Corp. 4.200% 4/01/27 (c) | 225,000 | 252,280 | ||||||
Water — 0.1% | ||||||||
Essential
Utilities, Inc. 2.704% 4/15/30 | 220,000 | 235,398 | ||||||
TOTAL
CORPORATE DEBT (Cost $85,991,624) | 89,062,627 | |||||||
Municipal Obligations — 0.1% | ||||||||
Missouri
Highway & Transportation Commission, Revenue Bonds 5.063% 5/01/24 | 135,000 | 152,292 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
State
of California BAB, General Obligation 7.550% 4/01/39 | $ | 190,000 | $ | 332,428 | ||||
484,720 | ||||||||
TOTAL
MUNICIPAL OBLIGATIONS (Cost $428,519) | 484,720 | |||||||
Non-U.S. Government Agency Obligations — 24.7% | ||||||||
Commercial Mortgage-Backed Securities — 6.8% | ||||||||
BANK Series 2020-BN28, Class AS, 2.140% 3/15/63 | 380,000 | 390,221 | ||||||
Series 2018-BN10, Class C, 4.163% VRN 2/15/61 (g) | 310,000 | 308,281 | ||||||
Benchmark
Mortgage Trust Series 2020-B19, Class AS, 2.148% 9/15/53 | 380,000 | 390,859 | ||||||
Series 2020-B18, Class C, 3.772% VRN 7/15/53 (g) | 354,000 | 376,399 | ||||||
Series 2020-B18, Class AGNF, 4.139% 7/15/53 (c) | 378,000 | 378,361 | ||||||
BFLD
2019-DPLO, Series 2019-DPLO, Class E, 1 mo. USD LIBOR + 2.240% 2.392% FRN 10/15/34 (c) | 491,000 | 427,509 | ||||||
BX
Trust, Series 2019-OC11, Class E, 4.076% VRN 12/09/41 (c) (g) | 391,000 | 355,870 | ||||||
BXMT
Ltd., Series 2020-FL2, Class A, 1 mo. USD LIBOR + .900% 1.051% FRN 2/16/37 (c) | 312,000 | 306,554 | ||||||
CFCRE
Commercial Mortgage Trust, Series 2016-C3, Class XA, 1.162% VRN 1/10/48 (g) | 5,585,728 | 243,880 | ||||||
CHT
Mortgage Trust Series 2017-CSMO, Class B, 1 mo. USD LIBOR + 1.400% 1.552% FRN 11/15/36 (c) | 298,000 | 287,301 | ||||||
Series 2017-CSMO, Class E, 1 mo. USD LIBOR + 3.000% 3.152% FRN 11/15/36 (c) | 273,000 | 255,261 | ||||||
Series 2017-CSMO, Class F, 1 mo. USD LIBOR + 3.741% 3.894% FRN 11/15/36 (c) | 320,000 | 295,218 | ||||||
Citigroup
Commercial Mortgage Trust Series 2016-GC36, Class D, 2.850% 2/10/49 (c) | 201,000 | 124,465 | ||||||
Series 2019-GC41, Class B, 3.199% 8/10/56 | 377,000 | 404,212 | ||||||
Series 2017-C4, Class B, 4.096% VRN 10/12/50 (g) | 340,000 | 363,451 | ||||||
Series 2015-GC31, Class C, 4.190% VRN 6/10/48 (g) | 700,000 | 673,347 | ||||||
COMM
Mortgage Trust Series 2012-CR4, Class D, 4.745% VRN 10/15/45 (c) (g) | 738,000 | 132,840 | ||||||
Series 2015-LC23, Class C, 4.791% VRN 10/10/48 (g) | 470,000 | 461,630 | ||||||
Commercial
Mortgage Pass-Through Certificates, Series 2016-CR28, Class C, 4.794% VRN 2/10/49 (g) | 465,000 | 464,059 | ||||||
CSAIL
Commercial Mortgage Trust Series 2015-C1, Class XA, 0.976% VRN 4/15/50 (g) | 8,278,785 | 242,973 | ||||||
Series 2020-C19, Class XA, 1.245% VRN 3/15/53 (g) | 3,778,722 | 319,500 | ||||||
Series 2020-C19, Class C, 3.735% VRN 3/15/53 (g) | 332,000 | 317,433 | ||||||
Series 2019-C16, Class B, 3.885% 6/15/52 | 334,000 | 360,271 | ||||||
Series 2016-C6, Class B, 3.924% VRN 1/15/49 (g) | 298,000 | 323,975 | ||||||
Series 2015-C4, Class C, 4.709% VRN 11/15/48 (g) | 427,000 | 452,455 | ||||||
Series 2018-C14, Class C, 5.054% VRN 11/15/51 (g) | 405,000 | 429,091 | ||||||
Series 2016-C6, Class C, 5.088% VRN 1/15/49 (g) | 378,000 | 393,993 | ||||||
DBGS
Mortgage Trust, Series 2018-5BP, Class F, 1 mo. USD LIBOR + 2.450% 2.602% FRN 6/15/33 (c) | 550,000 | 499,709 | ||||||
Fontainebleau
Miami Beach Trust Series 2019-FBLU, Class E, 4.095% VRN 12/10/36 (c) (g) | 262,000 | 245,980 | ||||||
Series 2019-FBLU, Class G, 4.095% VRN 12/10/36 (c) (g) | 236,000 | 202,926 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
FREMF
Mortgage Trust, Series 2019-K102, Class B, 3.652% VRN 12/25/51 (c) (g) | $ | 298,000 | $ | 325,576 | ||||
GS
Mortgage Securities Corp. Trust Series 2018-RIVR, Class C, 1 mo. USD LIBOR + 1.250% 1.402% FRN 7/15/35 (c) | 329,000 | 305,247 | ||||||
Series 2019-SOHO, Class E, 1 mo. USD LIBOR + 1.875% 2.027% FRN 6/15/36 (c) | 318,000 | 298,278 | ||||||
GS
Mortgage Securities Trust Series 2015-GS1, Class XA, 0.915% VRN 11/10/48 (g) | 7,883,131 | 264,779 | ||||||
Series 2013-GC10, Class XA, 1.639% VRN 2/10/46 (g) | 4,427,685 | 135,146 | ||||||
Series 2014-GC26, Class D, 4.662% VRN 11/10/47 (c) (g) | 1,258,000 | 757,814 | ||||||
Series 2016-GS2, Class C, 4.677% VRN 5/10/49 (g) | 340,000 | 357,994 | ||||||
GSCG
Trust, Series 2019-600C, Class E, 4.118% VRN 9/06/34 (c) (g) | 497,000 | 467,145 | ||||||
HPLY
Trust, Series 2019-HIT, Class F, 1 mo. USD LIBOR + 3.150% 3.302% FRN 11/15/36 (c) | 412,255 | 358,943 | ||||||
JP
Morgan Chase Commercial Mortgage Securities Trust Series 2015-JP1, Class XA, 1.191% VRN 1/15/49 (g) | 4,998,818 | 152,211 | ||||||
Series 2016-JP2, Class B, 3.460% 8/15/49 | 174,000 | 177,668 | ||||||
JPMBB
Commercial Mortgage Securities Trust Series 2015-C30, Class XA, 0.653% VRN 7/15/48 (g) | 9,396,509 | 197,899 | ||||||
Series 2015-C29, Class XA, 0.834% VRN 5/15/48 (g) | 7,836,148 | 197,027 | ||||||
Series 2014-C25, Class XA, 0.998% VRN 11/15/47 (g) | 4,163,829 | 117,586 | ||||||
Series 2015-C28, Class XA, 1.110% VRN 10/15/48 (g) | 6,746,970 | 224,341 | ||||||
Series 2015-C27, Class D, 3.945% VRN 2/15/48 (c) (g) | 704,000 | 546,907 | ||||||
Series 2015-C28, Class B, 3.986% 10/15/48 | 340,000 | 350,579 | ||||||
Series 2015-C29, Class C, 4.352% VRN 5/15/48 (g) | 325,000 | 303,062 | ||||||
Series 2015-C33, Class C, 4.765% VRN 12/15/48 (g) | 527,000 | 499,098 | ||||||
Series 2015-C32, Class C, 4.804% VRN 11/15/48 (g) | 87,000 | 79,931 | ||||||
JPMDB
Commercial Mortgage Securities Trust, Series 2020-COR7, Class C, 3.851% VRN 5/13/53 (g) | 327,000 | 339,965 | ||||||
MF1
Ltd., Series 2020-FL3, Class AS, 1 mo. USD LIBOR + 2.850% 3.002% FRN 7/15/35 (c) | 318,000 | 320,995 | ||||||
Morgan
Stanley Bank of America Merrill Lynch Trust Series 2015-C27, Class D, 3.237% VRN 12/15/47 (c) (g) | 504,000 | 322,490 | ||||||
Series 2015-C23, Class C, 4.289% VRN 7/15/50 (g) | 650,000 | 602,560 | ||||||
Series 2015-C27, Class C, 4.675% VRN 12/15/47 (g) | 351,000 | 323,694 | ||||||
Morgan
Stanley Capital I Trust, Series 2015-UBS8, Class XA, 1.029% VRN 12/15/48 (g) | 6,253,784 | 235,203 | ||||||
MSCG
Trust, Series 2018-SELF, Class F, 1 mo. USD LIBOR + 3.050% 3.202% FRN 10/15/37 (c) | 413,000 | 372,892 | ||||||
Natixis
Commercial Mortgage Securities Trust, Series 2018-FL1, Class C, 1 mo. USD LIBOR + 2.200% 2.362% FRN 6/15/35 (c) | 368,000 | 334,686 | ||||||
One
Market Plaza Trust, Series 2017-1MKT, Class E 4.142% 2/10/32 (c) | 381,000 | 387,688 | ||||||
SG
Commercial Mortgage Securities Trust, Series 2016-C5, Class XA, 2.125% VRN 10/10/48 (g) | 3,822,488 | 257,441 | ||||||
UBS
Commercial Mortgage Trust Series 2017-C2, Class B, 3.993% VRN 8/15/50 (g) | 332,000 | 354,020 | ||||||
Series 2017-C1, Class B, 4.036% 6/15/50 | 328,000 | 339,192 | ||||||
Series 2017-C6, Class B, 4.154% VRN 12/15/50 (g) | 340,000 | 356,757 | ||||||
Wells
Fargo Commercial Mortgage Trust Series 2015-NXS2, Class XA, 0.808% VRN 7/15/58 (g) | 10,216,900 | 271,630 | ||||||
Series 2015-P2, Class XA, 1.076% VRN 12/15/48 (g) | 5,089,318 | 175,058 | ||||||
Series 2019-C53, Class XA, 1.154% VRN 10/15/52 (g) | 4,354,169 | 305,752 | ||||||
Series 2020-C57, Class XA, 2.238% VRN 8/15/53 (g) | 2,238,651 | 357,379 | ||||||
Series 2016-C35, Class B, 3.438% 7/15/48 | 328,000 | 335,171 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2014-LC16, Class D, 3.938% 8/15/50 (c) | $ | 169,000 | $ | 89,530 | ||||
Series 2019-C50, Class B, 4.192% 5/15/52 | 409,000 | 430,352 | ||||||
Series 2019-C50, Class C, 4.345% 5/15/52 | 409,000 | 375,588 | ||||||
Series 2016-C37, Class C, 4.639% VRN 12/15/49 (g) | 376,000 | 382,335 | ||||||
Series 2015-NXS4, Class C, 4.820% VRN 12/15/48 (g) | 421,000 | 433,866 | ||||||
24,249,499 | ||||||||
Home Equity Asset-Backed Securities — 1.5% | ||||||||
GSAA
Home Equity Trust, Series 2007-10, Class A2A 6.500% 11/25/37 | 3,847,264 | 2,666,370 | ||||||
Morgan
Stanley ABS Capital I, Inc. Trust, Series 2006-HE6, Class A2C, 1 mo. USD LIBOR + .150% 0.298% FRN 9/25/36 | 5,876,761 | 2,683,196 | ||||||
5,349,566 | ||||||||
Other Asset-Backed Securities — 9.1% | ||||||||
AASET
US Ltd., Series 2018-1A, Class A 3.844% 1/16/38 (c) | 513,749 | 474,600 | ||||||
ALM
R Ltd., Series 2013-7RA, Class CR, 3 mo. USD LIBOR + 4.040% 4.315% FRN 10/15/28 (c) | 1,000,000 | 1,000,017 | ||||||
ANCHORAGE
CAPITAL CLO 13 LLC, Series 2019-13A, Class B, 3 mo. USD LIBOR + 2.000% 2.275% FRN 4/15/32 (c) | 500,000 | 499,082 | ||||||
Blackbird
Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class B, 5.682% STEP 12/16/41 (c) | 770,833 | 503,145 | ||||||
BlueMountain
CLO Ltd. Series 2015-3A, Class CR, 3 mo. USD LIBOR + 2.600% 2.872% FRN 4/20/31 (c) | 1,000,000 | 863,524 | ||||||
Series 2013-1A, Class CR, 3 mo. USD LIBOR + 4.150% 4.422% FRN 1/20/29 (c) | 1,000,000 | 911,785 | ||||||
CLI
Funding LLC Series 2014-2A, Class A, 3.380% 10/18/29 (c) | 263,330 | 263,356 | ||||||
Series 2019-1A, Class A, 3.710% 5/18/44 (c) | 433,790 | 441,591 | ||||||
Dryden
40 Senior Loan Fund, Series 2015-40A, Class DR, 3 mo. USD LIBOR + 3.100% 3.380% FRN 8/15/31 (c) | 500,000 | 478,479 | ||||||
Gilbert
Park CLO Ltd. Series 2017-1A, Class D, 3 mo. USD LIBOR + 2.950% 3.225% FRN 10/15/30 (c) | 500,000 | 482,499 | ||||||
Series 2017-1A, Class E, 3 mo. USD LIBOR + 6.400% 6.675% FRN 10/15/30 (c) | 1,000,000 | 920,216 | ||||||
Global
SC Finance SRL, Series 2014-1A, Class A1 3.190% 7/17/29 (c) | 272,167 | 270,741 | ||||||
Grippen
Park CLO Ltd., Series 2017-1A, Class D, 3 mo. USD LIBOR + 3.300% 3.572% FRN 1/20/30 (c) | 1,000,000 | 973,017 | ||||||
Helios
Issuer LLC Series 2020-AA, Class A, 2.980% 6/20/47 (c) | 473,814 | 491,044 | ||||||
Series 2017-1A, Class A, 4.940% 9/20/49 (c) | 211,236 | 224,863 | ||||||
Hero
Funding Trust, Series 2016-4A, Class A2 4.290% 9/20/47 (c) | 205,670 | 216,093 | ||||||
Highbridge
Loan Management Ltd., Series 13A-18, Class D, 3 mo. USD LIBOR + 3.000% 3.275% FRN 10/15/30 (c) | 500,000 | 456,435 | ||||||
Invitation
Homes Trust Series 2018-SFR1, Class C, 1 mo. USD LIBOR + 1.250% 1.401% FRN 3/17/37 (c) | 1,145,000 | 1,145,681 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2018-SFR1, Class D, 1 mo. USD LIBOR + 1.450% 1.601% FRN 3/17/37 (c) | $ | 750,000 | $ | 749,108 | ||||
JOL
Air Ltd., Series 2019-1, Class A 3.967% 4/15/44 (c) | 447,332 | 424,175 | ||||||
Long
Beach Mortgage Loan Trust, Series 2006-7, Class 1A, 1 mo. USD LIBOR + .155% 0.303% FRN 8/25/36 | 3,195,147 | 2,088,384 | ||||||
MACH
1 Cayman Ltd., Series 2019-1, Class A 3.474% 10/15/39 (c) | 464,193 | 422,214 | ||||||
Madison
Park Funding Ltd., Series 2014-14A, Class DRR, 3 mo. USD LIBOR + 2.950% 3.208% FRN 10/22/30 (c) | 500,000 | 462,498 | ||||||
Merrill
Lynch Mortgage Investors Trust, Series 2006-OPT1, Class A2C, 1 mo. USD LIBOR + .150% 0.298% FRN 8/25/37 | 1,940,758 | 1,861,927 | ||||||
Mosaic
Solar Loans LLC Series 2020-1A, Class A, 2.100% 4/20/46 (c) | 475,127 | 480,467 | ||||||
Series 2020-2A, Class B, 2.210% 8/20/46 (f) | 500,000 | 492,826 | ||||||
Series 2017-1A, Class A, 4.450% 6/20/42 (c) | 395,592 | 424,633 | ||||||
Newark
BSL CLO 2 Ltd., Series 2017-1A, Class C, 3 mo. USD LIBOR + 3.650% 3.895% FRN 7/25/30 (c) | 500,000 | 493,041 | ||||||
Oak
Hill Credit Partners Ltd., Series 2018-1A, Class D, 3 mo. USD LIBOR + 3.050% 3.322% FRN 10/20/30 (c) | 500,000 | 471,285 | ||||||
Octagon
Investment Partners Ltd., Series 2017-1A, Class C, 3 mo. USD LIBOR + 3.500% 3.772% FRN 3/17/30 (c) | 1,000,000 | 947,872 | ||||||
Primose
Funding LLC, Series 2019-1A, Class A2 4.475% 7/30/49 (c) | 992,500 | 1,027,079 | ||||||
Sprite
Ltd., Series 2017-1, Class A 4.250% 12/15/37 (c) | 322,873 | 293,773 | ||||||
START
Ireland, Series 2019-1, Class A 4.089% 3/15/44 (c) | 329,827 | 307,452 | ||||||
Sunrun
Atlas Issuer 2019-2 LLC, Series 2019-2, Class A 3.610% 2/01/55 (c) | 737,161 | 772,420 | ||||||
Symphony
CLO Ltd., Series 2015-16A, Class DR, 3 mo. USD LIBOR + 3.050% 3.325% FRN 10/15/31 (c) | 500,000 | 470,183 | ||||||
Taco
Bell Funding LLC, Series 2018-1A, Class A2I 4.318% 11/25/48 (c) | 982,500 | 1,003,377 | ||||||
Textainer
Marine Containers VII Ltd., Series 2019-1A, Class A 3.960% 4/20/44 (c) | 443,333 | 443,333 | ||||||
Textainer
Marine Containers VIII Ltd., Series 2020-2A, Class A 2.100% 9/20/45 (c) | 500,000 | 499,917 | ||||||
Thacher
Park CLO Ltd., Series 2014-1A, Class D1R, 3 mo. USD LIBOR + 3.400% 3.672% FRN 10/20/26 (c) | 1,000,000 | 995,365 | ||||||
Thunderbolt
Aircraft Lease Ltd. Series 2018-A, Class A, 4.147% STEP 9/15/38 (c) | 442,900 | 416,372 | ||||||
Series 2017-A, Class A, 4.212% STEP 5/17/32 (c) | 864,559 | 814,627 | ||||||
TPG
Real Estate Finance Issuer Ltd., Series 2018-FL2, Class AS, 1 mo. USD LIBOR + 1.450% 1.601% FRN 11/15/37 (c) | 314,000 | 309,122 | ||||||
Trip
Rail Master Funding LLC, Series 2017-1A, Class A1 2.709% 8/15/47 (c) | 138,172 | 138,295 | ||||||
Vantage
Data Centers Issuer LLC, Series 2018-1A, Class A2 4.072% 2/16/43 (c) | 730,625 | 755,765 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Vantage
Data Centers LLC, Series 2020-2A, Class A2 1.992% 9/15/45 (c) (f) | $ | 375,000 | $ | 375,172 | ||||
VB-S1
Issuer LLC, Series 2020-1A, Class C2 3.031% 6/15/50 (c) | 500,000 | 520,490 | ||||||
Vericrest
Opportunity Loan Trust, Series 2019-NPL2, Class A1, 3.967% STEP 2/25/49 (c) | 848,125 | 854,438 | ||||||
VOLT
LXXXVII LLC, Series 2020-NPL3, Class A1A, 2.981% STEP 2/25/50 (c) | 562,728 | 562,728 | ||||||
Westcott
Park CLO Ltd., Series 2016-1A, Class DR, 3 mo. USD LIBOR + 3.250% 3.522% FRN 7/20/28 (c) | 500,000 | 488,333 | ||||||
Willis
Engine Structured Trust IV, Series 2018-A, Class A, 4.750% STEP 9/15/43 (c) | 781,267 | 658,953 | ||||||
Wind
River CLO Ltd., Series 2017-1A, Class D, 3 mo. USD LIBOR + 3.750% 4.022% FRN 4/18/29 (c) | 1,000,000 | 962,726 | ||||||
32,604,518 | ||||||||
Student Loans Asset-Backed Securities — 0.3% | ||||||||
College
Avenue Student Loans LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + 1.200% 1.348% FRN 12/26/47 (c) | 362,972 | 359,355 | ||||||
SoFi
Professional Loan Program LLC Series 2017-D, Class BFX, 3.610% 9/25/40 (c) | 350,000 | 347,436 | ||||||
Series 2018-B, Class BFX, 3.830% 8/25/47 (c) | 500,000 | 480,640 | ||||||
1,187,431 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 6.6% | ||||||||
CIM
Trust, Series 2017-6, Class A1, 3.015% VRN 6/25/57 (c) (g) | 1,759,989 | 1,748,777 | ||||||
Citigroup
Mortgage Loan Trust, Series 2007-AR5, Class 1A2A, 3.969% VRN 4/25/37 (g) | 1,227,391 | 1,142,688 | ||||||
CitiMortgage
Alternative Loan Trust, Series 2006-A1, Class 1A5 5.500% 4/25/36 | 2,030,827 | 2,043,098 | ||||||
Countrywide
Alternative Loan Trust Series 2006-13T1, Class A11, 6.000% 5/25/36 | 1,983,305 | 1,429,797 | ||||||
Series 2006-36T2, Class 2A1, 6.250% 12/25/36 | 3,447,817 | 2,330,562 | ||||||
Countrywide
Home Loans Mortgage Pass-Through Trust Series 2007-HYB2, Class 3A1, 3.360% VRN 2/25/47 (g) | 1,230,360 | 1,096,841 | ||||||
Series 2007-14, Class A6, 6.000% 9/25/37 | 1,535,313 | 1,236,310 | ||||||
HarborView
Mortgage Loan Trust, Series 2006-11, Class A1A, 1 mo. USD LIBOR + .170% 0.326% FRN 12/19/36 | 977,857 | 884,717 | ||||||
IndyMac
INDX Mortgage Loan Trust, Series 2007-AR5, Class 2A1, 3.398% VRN 5/25/37 (g) | 2,434,559 | 2,175,024 | ||||||
Lehman
XS Trust, Series 2007-12N, Class 1A3A, 1 mo. LIBOR + .200% 0.348% FRN 7/25/47 | 2,761,335 | 2,548,259 | ||||||
Morgan
Stanley Mortgage Loan Trust, Series 2005-3AR, Class 2A1, 3.208% VRN 7/25/35 (g) | 442,742 | 415,384 | ||||||
Nomura
Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AR1, Class 2A1, 3.526% VRN 2/25/36 (g) | 2,212,291 | 1,914,494 | ||||||
RBSSP
Resecuritization Trust, Series 2009-5, Class 2A3, 6.500% VRN 10/26/37 (c) (g) | 956,696 | 706,568 | ||||||
RFMSI
Trust, Series 2007-S4, Class A5, 1 mo. USD LIBOR + .600% 6.000% FRN 4/25/37 | 282,390 | 269,391 | ||||||
Structured
Adjustable Rate Mortgage Loan Trust, Series 2008-1, Class A2, 3.200% VRN 10/25/37 (g) | 958,988 | 854,273 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Voyager
OPTONE Delaware Trust, Series 2009-1, Class SAC3, 1 mo. LIBOR +0.000% 11.628% VRN 2/25/38 (c) | $ | 2,222,178 | $ | 1,709,832 | ||||
Washington
Mutual Mortgage Pass-Through Certificates Trust, Series 2006-4, Class 3A5, 6.350% STEP 5/25/36 | 1,008,439 | 954,933 | ||||||
23,460,948 | ||||||||
Whole Loan Collateral Planned Amortization Classes — 0.4% | ||||||||
Countrywide
Alternative Loan Trust, Series 2006-19CB, Class A15 6.000% 8/25/36 | 1,808,264 | 1,496,102 | ||||||
TOTAL
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $93,949,071) | 88,348,064 | |||||||
Sovereign Debt Obligations — 1.1% | ||||||||
Abu
Dhabi Government International Bond 0.750% 9/02/23 (c) | 200,000 | 199,750 | ||||||
3.125% 4/16/30 (c) | 200,000 | 223,576 | ||||||
Indonesia
Government International Bond 3.375% 4/15/23 (c) | 200,000 | 210,908 | ||||||
Korea
Electric Power Corp. 1.125% 6/15/25 (c) | 200,000 | 201,028 | ||||||
Mexico
Government International Bond 3.750% 1/11/28 | 535,000 | 575,933 | ||||||
4.150% 3/28/27 | 343,000 | 381,588 | ||||||
Panama
Government International Bond 3.750% 3/16/25 | 200,000 | 218,302 | ||||||
4.000% 9/22/24 | 200,000 | 218,702 | ||||||
Perusahaan
Penerbit SBSN Indonesia 4.150% 3/29/27 (c) | 200,000 | 224,802 | ||||||
Peruvian
Government International Bond 2.392% 1/23/26 | 100,000 | 104,901 | ||||||
2.783% 1/23/31 | 300,000 | 324,150 | ||||||
Qatar
Government International Bond 3.375% 3/14/24 (c) | 400,000 | 430,632 | ||||||
3.875% 4/23/23 (c) | 200,000 | 214,600 | ||||||
Saudi
Government International Bond 2.375% 10/26/21 (c) | 200,000 | 203,251 | ||||||
2.900% 10/22/25 (c) | 250,000 | 267,001 | ||||||
3,999,124 | ||||||||
TOTAL
SOVEREIGN DEBT OBLIGATIONS (Cost $3,815,566) | 3,999,124 | |||||||
U.S. Government Agency Obligations and Instrumentalities — 18.7% | ||||||||
Collateralized Mortgage Obligations — 10.4% | ||||||||
Federal
Home Loan Mortgage Corp 3.500% 7/15/49 | 3,238,429 | 3,454,575 | ||||||
Federal
Home Loan Mortgage Corp. REMICS Series 4934, Class P, 2.500% 11/15/40 | 2,360,016 | 2,505,060 | ||||||
Series 4093, Class PA, 3.000% 8/15/42 | 3,089,572 | 3,207,139 | ||||||
Series 4481, Class B, 3.000% 12/15/42 | 4,071,049 | 4,196,226 | ||||||
Series 4483, Class CA, 3.000% 6/15/44 | 4,321,284 | 4,547,708 | ||||||
Series 4750, Class PA, 3.000% 7/15/46 | 1,572,961 | 1,621,083 | ||||||
Federal
Home Loan Mortgage Corp. STRIPS Series 355, Class 300, 3.000% 8/15/47 | 2,555,432 | 2,750,500 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 358, Class 300, 3.000% 10/15/47 | $ | 2,256,279 | $ | 2,429,644 | ||||
Federal
National Mortgage Association REMICS Series 2018-21, Class PO, 0.010% 4/25/48 | 2,299,558 | 2,153,496 | ||||||
Series 2015-9, Class HA, 3.000% 1/25/45 | 607,248 | 650,992 | ||||||
Government
National Mortgage Association Series 2015-74, Class LZ, 3.500% 5/20/45 | 3,451,120 | 3,704,497 | ||||||
Series 2015-92, Class CZ, 3.500% 6/20/45 | 5,491,254 | 5,972,567 | ||||||
37,193,487 | ||||||||
Pass-Through Securities — 7.5% | ||||||||
Federal
Home Loan Mortgage Corp. Pool #RE6066 2.000% 10/01/50 (f) | 7,000,000 | 7,170,910 | ||||||
Pool #BL5484 2.260% 1/01/30 | 3,000,000 | 3,329,314 | ||||||
Pool #G08520 2.500% 1/01/43 | 987,180 | 1,044,090 | ||||||
Pool #SB0048 3.000% 8/01/34 | 2,142,192 | 2,275,412 | ||||||
Pool #G08632 3.500% 3/01/45 | 1,712,866 | 1,843,572 | ||||||
Federal
National Mortgage Association Pool #MA4158 2.000% 10/01/50 | 4,000,000 | 4,137,663 | ||||||
Pool #BP5817 2.500% 5/01/50 | 2,933,491 | 3,076,776 | ||||||
Pool #MA2248 3.000% 4/01/45 | 1,390,897 | 1,440,462 | ||||||
Pool #AS7661 3.000% 8/01/46 | 925,153 | 958,121 | ||||||
Pool #AX2501 4.000% 10/01/44 | 1,456,098 | 1,597,841 | ||||||
26,874,161 | ||||||||
Whole Loans — 0.8% | ||||||||
Federal
Home Loan Mortgage Corp. SCRT Series 2018-2, Class HV 3.000% VRN 11/25/57(g) | 2,782,757 | 3,015,189 | ||||||
TOTAL
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $63,198,952) | 67,082,837 | |||||||
U.S. Treasury Obligations — 25.8% | ||||||||
U.S. Treasury Bonds & Notes — 25.8% | ||||||||
U.S.
Treasury Bond 1.125% 8/15/40 | 3,150,000 | 3,097,308 | ||||||
1.375% 8/15/50 | 2,450,000 | 2,404,343 | ||||||
2.750% 11/15/42 | 300,000 | 384,761 | ||||||
2.750% 11/15/47 | 2,720,000 | 3,541,755 | ||||||
3.125% 2/15/43 | 2,590,000 | 3,514,267 | ||||||
3.625% 8/15/43 | 2,430,000 | 3,548,340 | ||||||
U.S.
Treasury Note 0.125% 9/30/22 | 4,780,000 | 4,779,998 | ||||||
0.125% 9/15/23 | 7,150,000 | 7,143,821 | ||||||
0.250% 9/30/25 | 7,960,000 | 7,951,826 | ||||||
0.375% 9/30/27 | 11,830,000 | 11,756,165 | ||||||
0.625% 8/15/30 | 4,370,000 | 4,348,315 | ||||||
1.625% 10/31/26 | 3,980,000 | 4,278,562 | ||||||
1.625% 8/15/29 | 3,600,000 | 3,920,759 | ||||||
1.750% 11/30/21 | 5,460,000 | 5,562,254 | ||||||
2.125% 9/30/24 | 4,070,000 | 4,379,982 | ||||||
2.250% 10/31/24 | 4,325,000 | 4,681,753 | ||||||
2.250% 3/31/26 | 3,340,000 | 3,690,741 | ||||||
2.250% 8/15/27 | 725,000 | 813,453 | ||||||
2.250% 11/15/27 | 4,060,000 | 4,566,259 | ||||||
2.625% 1/31/26 | 660,000 | 740,928 | ||||||
2.750% 2/28/25 | 2,480,000 | 2,753,502 |
MML Dynamic Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
3.000% 9/30/25 | $ | 3,980,000 | $ | 4,517,286 | ||||
92,376,378 | ||||||||
TOTAL
U.S. TREASURY OBLIGATIONS (Cost $88,599,664) | 92,376,378 | |||||||
TOTAL
BONDS & NOTES (Cost $348,847,793) | 354,013,833 | |||||||
TOTAL
LONG-TERM INVESTMENTS (Cost $348,847,793) | 354,013,833 | |||||||
Short-Term Investments — 3.2% | ||||||||
Repurchase Agreement — 2.7% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (h) | 9,556,271 | 9,556,271 | ||||||
U.S. Treasury Bill — 0.5% | ||||||||
U.S.
Treasury Bill 0.000% 11/05/20 | 90,000 | 89,992 | ||||||
0.000% 11/27/20 | 1,680,000 | 1,679,747 | ||||||
1,769,739 | ||||||||
TOTAL
SHORT-TERM INVESTMENTS (Cost $11,325,720) | 11,326,010 | |||||||
TOTAL
INVESTMENTS — 102.0% (Cost $360,173,513) (i) | 365,339,843 | |||||||
Less Unfunded Loan Commitments (0.00)% | (23,306 | ) | ||||||
NET
INVESTMENTS — 102.0% (Cost $360,150,207) | 365,316,537 | |||||||
Other Assets/(Liabilities) — (2.0)% | (7,289,020 | ) | ||||||
NET ASSETS — 100.0% | $ | 358,027,517 |
Abbreviation Legend
BAB | Build America Bonds |
CLO | Collateralized Loan Obligation |
DIP | Debtor In Possession |
FRN | Floating Rate Note |
PO | Principal Only |
REMICS | Real Estate Mortgage Investment Conduits |
SCRT | Seasoned Credit Risk Transfer |
STEP | Step Up Bond |
STRIPS | Separate Trading of Registered Interest and Principal of Securities |
VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | All or a portion of the security represents unsettled loan commitments at September 30, 2020 where the rate will be determined at time of settlement. |
(b) | Unfunded or partially unfunded loan commitments. |
(c) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2020, the aggregate market value of these securities amounted to $85,241,033 or 23.81% of net assets. |
(d) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At September 30, 2020, these securities amounted to a value of $344,462 or 0.10% of net assets. |
(e) | Security is perpetual and has no stated maturity date. |
(f) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(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 September 30, 2020. |
(h) | Maturity value of $9,556,271. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $9,747,491. |
(i) | See Note 3 for aggregate cost for federal tax purposes. |
Currency Legend
USD | U.S. Dollar |
MML Equity Fund — Portfolio of Investments | ||||||||
September 30, 2020 (Unaudited) | ||||||||
Number of Shares | Value | |||||||
Equities — 98.0% | ||||||||
Common Stock — 97.9% | ||||||||
Basic Materials — 3.1% | ||||||||
Chemicals — 2.2% | ||||||||
Air Liquide SA | 1,270 | $ | 201,528 | |||||
Albemarle Corp. | 6,300 | 562,464 | ||||||
Celanese Corp. | 7,100 | 762,895 | ||||||
DuPont de Nemours, Inc. | 18,300 | 1,015,284 | ||||||
Eastman Chemical Co. | 8,000 | 624,960 | ||||||
FMC Corp. | 7,700 | 815,507 | ||||||
Huntsman Corp. | 11,500 | 255,415 | ||||||
Linde PLC | 22,933 | 5,461,035 | ||||||
LyondellBasell Industries NV Class A | 23,000 | 1,621,270 | ||||||
The Mosaic Co. | 12,100 | 221,067 | ||||||
PPG Industries, Inc. | 27,766 | 3,389,673 | ||||||
14,931,098 | ||||||||
Forest Products & Paper — 0.5% | ||||||||
International Paper Co. | 86,566 | 3,509,386 | ||||||
Iron & Steel — 0.2% | ||||||||
Nucor Corp. | 18,000 | 807,480 | ||||||
Reliance Steel & Aluminum Co. | 4,000 | 408,160 | ||||||
Steel Dynamics, Inc. | 12,700 | 363,601 | ||||||
1,579,241 | ||||||||
Mining — 0.2% | ||||||||
Freeport-McMoRan, Inc. | 82,700 | 1,293,428 | ||||||
21,313,153 | ||||||||
Communications — 10.1% | ||||||||
Advertising — 0.2% | ||||||||
The Interpublic Group of Cos., Inc. | 19,300 | 321,731 | ||||||
Omnicom Group, Inc. | 12,900 | 638,550 | ||||||
960,281 | ||||||||
Internet — 2.2% | ||||||||
Alphabet, Inc. Class C (a) | 6,511 | 9,568,566 | ||||||
Booking Holdings, Inc. (a) | 12 | 20,528 | ||||||
CDW Corp. | 4,600 | 549,838 | ||||||
E*TRADE Financial Corp. | 48,118 | 2,408,306 | ||||||
eBay, Inc. | 48,000 | 2,500,800 | ||||||
Facebook, Inc. Class A (a) | 200 | 52,380 | ||||||
15,100,418 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Media — 2.2% | ||||||||
Comcast Corp. Class A | 267,000 | $ | 12,351,420 | |||||
Discovery, Inc. Class A (a) (b) | 9,100 | 198,107 | ||||||
Fox Corp. Class A | 19,000 | 528,770 | ||||||
The Walt Disney Co. | 19,079 | 2,367,322 | ||||||
15,445,619 | ||||||||
Telecommunications — 5.5% | ||||||||
AT&T, Inc. | 406,600 | 11,592,166 | ||||||
Ciena Corp. (a) | 5,000 | 198,450 | ||||||
Cisco Systems, Inc. | 240,800 | 9,485,112 | ||||||
Corning, Inc. | 42,100 | 1,364,461 | ||||||
Juniper Networks, Inc. | 19,800 | 425,700 | ||||||
Motorola Solutions, Inc. | 4,824 | 756,451 | ||||||
Verizon Communications, Inc. | 244,200 | 14,527,458 | ||||||
38,349,798 | ||||||||
69,856,116 | ||||||||
Consumer, Cyclical — 5.9% | ||||||||
Apparel — 0.1% | ||||||||
Deckers Outdoor Corp. (a) | 600 | 132,006 | ||||||
Hanesbrands, Inc. | 11,200 | 176,400 | ||||||
Skechers U.S.A., Inc. Class A (a) | 7,900 | 238,738 | ||||||
547,144 | ||||||||
Auto Manufacturers — 1.2% | ||||||||
Cummins, Inc. | 12,800 | 2,702,848 | ||||||
Ford Motor Co. | 118,600 | 789,876 | ||||||
General Motors Co. | 109,047 | 3,226,701 | ||||||
PACCAR, Inc. | 20,500 | 1,748,240 | ||||||
8,467,665 | ||||||||
Auto Parts & Equipment — 0.3% | ||||||||
BorgWarner, Inc. | 12,200 | 472,628 | ||||||
Gentex Corp. | 14,100 | 363,075 | ||||||
Lear Corp. | 3,400 | 370,770 | ||||||
Magna International, Inc. | 19,080 | 872,910 | ||||||
2,079,383 | ||||||||
Distribution & Wholesale — 0.3% | ||||||||
HD Supply Holdings, Inc. (a) | 8,800 | 362,912 | ||||||
LKQ Corp. (a) | 18,200 | 504,686 | ||||||
W.W. Grainger, Inc. | 3,300 | 1,177,341 | ||||||
2,044,939 | ||||||||
Home Builders — 0.8% | ||||||||
D.R. Horton, Inc. | 21,900 | 1,656,297 | ||||||
Lennar Corp. Class A | 38,000 | 3,103,840 | ||||||
PulteGroup, Inc. | 15,400 | 712,866 | ||||||
Toll Brothers, Inc. | 4,000 | 194,640 | ||||||
5,667,643 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Home Furnishing — 0.1% | ||||||||
Whirlpool Corp. | 3,900 | $ | 717,171 | |||||
Housewares — 0.0% | ||||||||
Newell Brands, Inc. | 13,600 | 233,376 | ||||||
Leisure Time — 0.0% | ||||||||
Brunswick Corp. | 4,300 | 253,313 | ||||||
Lodging — 0.7% | ||||||||
Hilton Worldwide Holdings, Inc. | 23,300 | 1,987,956 | ||||||
Marriott International, Inc. Class A | 16,938 | 1,568,120 | ||||||
MGM Resorts International | 42,455 | 923,396 | ||||||
4,479,472 | ||||||||
Retail — 2.4% | ||||||||
Advance Auto Parts, Inc. | 3,900 | 598,650 | ||||||
AutoZone, Inc. (a) | 1,500 | 1,766,460 | ||||||
Best Buy Co., Inc. | 15,400 | 1,713,866 | ||||||
Dollar Tree, Inc. (a) | 7,600 | 694,184 | ||||||
Genuine Parts Co. | 8,600 | 818,462 | ||||||
The Home Depot, Inc. | 2,600 | 722,046 | ||||||
McDonald's Corp. | 16,826 | 3,693,139 | ||||||
O'Reilly Automotive, Inc. (a) | 1,989 | 917,088 | ||||||
Ross Stores, Inc. | 12,557 | 1,171,819 | ||||||
The TJX Cos., Inc. | 19,400 | 1,079,610 | ||||||
Williams-Sonoma, Inc. | 4,500 | 406,980 | ||||||
Yum! Brands, Inc. | 29,482 | 2,691,707 | ||||||
16,274,011 | ||||||||
40,764,117 | ||||||||
Consumer, Non-cyclical — 21.4% | ||||||||
Agriculture — 1.5% | ||||||||
Archer-Daniels-Midland Co. | 32,900 | 1,529,521 | ||||||
Bunge Ltd. | 4,500 | 205,650 | ||||||
Darling Ingredients, Inc. (a) | 5,200 | 187,356 | ||||||
Philip Morris International, Inc. | 115,722 | 8,677,993 | ||||||
10,600,520 | ||||||||
Beverages — 0.2% | ||||||||
The Coca-Cola Co. | 18,300 | 903,471 | ||||||
PepsiCo, Inc. | 900 | 124,740 | ||||||
1,028,211 | ||||||||
Biotechnology — 2.9% | ||||||||
Alexion Pharmaceuticals, Inc. (a) | 12,600 | 1,441,818 | ||||||
Amgen, Inc. | 35,200 | 8,946,432 | ||||||
Bio-Rad Laboratories, Inc. Class A (a) | 1,500 | 773,190 | ||||||
Biogen, Inc. (a) | 11,400 | 3,233,952 | ||||||
Corteva, Inc. | 24,100 | 694,321 | ||||||
Gilead Sciences, Inc. | 75,000 | 4,739,250 | ||||||
19,828,963 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Commercial Services — 0.5% | ||||||||
AMERCO | 1,300 | $ | 462,774 | |||||
ManpowerGroup, Inc. | 3,600 | 263,988 | ||||||
Quanta Services, Inc. | 8,500 | 449,310 | ||||||
Robert Half International, Inc. | 6,500 | 344,110 | ||||||
United Rentals, Inc. (a) | 12,700 | 2,216,150 | ||||||
3,736,332 | ||||||||
Foods — 1.4% | ||||||||
Conagra Brands, Inc. | 28,800 | 1,028,448 | ||||||
Ingredion, Inc. | 4,100 | 310,288 | ||||||
The J.M. Smucker Co. | 6,500 | 750,880 | ||||||
Kellogg Co. | 20,300 | 1,311,177 | ||||||
The Kraft Heinz Co. | 69,500 | 2,081,525 | ||||||
The Kroger Co. | 24,900 | 844,359 | ||||||
Tyson Foods, Inc. Class A | 61,737 | 3,672,117 | ||||||
9,998,794 | ||||||||
Health Care – Products — 3.3% | ||||||||
Boston Scientific Corp. (a) | 67,600 | 2,582,996 | ||||||
Danaher Corp. | 44,018 | 9,478,396 | ||||||
Henry Schein, Inc. (a) | 8,700 | 511,386 | ||||||
Medtronic PLC | 17,214 | 1,788,879 | ||||||
Stryker Corp. | 10,093 | 2,103,078 | ||||||
Thermo Fisher Scientific, Inc. | 12,606 | 5,565,801 | ||||||
Zimmer Biomet Holdings, Inc. | 5,564 | 757,483 | ||||||
22,788,019 | ||||||||
Health Care – Services — 4.1% | ||||||||
Anthem, Inc. | 22,347 | 6,002,181 | ||||||
DaVita, Inc. (a) | 8,200 | 702,330 | ||||||
HCA Healthcare, Inc. | 47,004 | 5,860,459 | ||||||
Humana, Inc. | 4,200 | 1,738,338 | ||||||
Laboratory Corp. of America Holdings (a) | 5,700 | 1,073,139 | ||||||
Molina Healthcare, Inc. (a) | 3,300 | 604,032 | ||||||
Quest Diagnostics, Inc. | 8,000 | 915,920 | ||||||
UnitedHealth Group, Inc. | 36,112 | 11,258,638 | ||||||
Universal Health Services, Inc. Class B | 1,700 | 181,934 | ||||||
28,336,971 | ||||||||
Household Products & Wares — 0.3% | ||||||||
Avery Dennison Corp. | 4,600 | 588,064 | ||||||
Kimberly-Clark Corp. | 11,000 | 1,624,260 | ||||||
2,212,324 | ||||||||
Pharmaceuticals — 7.2% | ||||||||
AbbVie, Inc. | 33,376 | 2,923,404 | ||||||
AmerisourceBergen Corp. | 12,200 | 1,182,424 | ||||||
Bausch Health Cos., Inc. (a) | 52,231 | 811,670 | ||||||
Becton Dickinson and Co. | 3,827 | 890,466 | ||||||
Cardinal Health, Inc. | 17,300 | 812,235 | ||||||
Cigna Corp. | 20,400 | 3,455,964 | ||||||
CVS Health Corp. | 897 | 52,385 | ||||||
Elanco Animal Health, Inc. (a) | 31,942 | 892,140 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Jazz Pharmaceuticals PLC (a) | 3,400 | $ | 484,806 | |||||
Johnson & Johnson | 84,416 | 12,567,854 | ||||||
McKesson Corp. | 10,800 | 1,608,444 | ||||||
Merck & Co., Inc. | 150,600 | 12,492,270 | ||||||
Perrigo Co. PLC | 8,000 | 367,280 | ||||||
Pfizer, Inc. | 306,679 | 11,255,119 | ||||||
49,796,461 | ||||||||
148,326,595 | ||||||||
Energy — 2.3% | ||||||||
Oil & Gas — 1.1% | ||||||||
Chevron Corp. | 110,400 | 7,948,800 | ||||||
EOG Resources, Inc. | 5,986 | 215,137 | ||||||
Exxon Mobil Corp. | 3,600 | 123,588 | ||||||
8,287,525 | ||||||||
Oil & Gas Services — 0.1% | ||||||||
Halliburton Co. | 31,844 | 383,720 | ||||||
Pipelines — 1.1% | ||||||||
Cheniere Energy, Inc. (a) | 8,100 | 374,787 | ||||||
Enbridge, Inc. | 63,896 | 1,865,763 | ||||||
TC Energy Corp. | 42,318 | 1,778,202 | ||||||
The Williams Cos., Inc. | 187,204 | 3,678,559 | ||||||
7,697,311 | ||||||||
16,368,556 | ||||||||
Financial — 20.6% | ||||||||
Banks — 9.7% | ||||||||
Bank of America Corp. | 753,919 | 18,161,909 | ||||||
The Bank of New York Mellon Corp. | 54,400 | 1,868,096 | ||||||
Commerce Bancshares, Inc. | 6,645 | 374,047 | ||||||
Cullen/Frost Bankers, Inc. (b) | 3,400 | 217,430 | ||||||
East West Bancorp, Inc. | 7,800 | 255,372 | ||||||
Fifth Third Bancorp | 39,300 | 837,876 | ||||||
The Goldman Sachs Group, Inc. | 25,035 | 5,031,284 | ||||||
JP Morgan Chase & Co. | 211,200 | 20,332,224 | ||||||
Morgan Stanley | 244,567 | 11,824,815 | ||||||
Northern Trust Corp. | 12,400 | 966,828 | ||||||
The PNC Financial Services Group, Inc. | 33,875 | 3,723,201 | ||||||
Signature Bank | 3,100 | 257,269 | ||||||
State Street Corp. | 21,400 | 1,269,662 | ||||||
SVB Financial Group (a) | 3,200 | 769,984 | ||||||
Wells Fargo & Co. | 62,200 | 1,462,322 | ||||||
67,352,319 | ||||||||
Diversified Financial Services — 3.6% | ||||||||
Ally Financial, Inc. | 12,000 | 300,840 | ||||||
American Express Co. | 48,500 | 4,862,125 | ||||||
Ameriprise Financial, Inc. | 8,300 | 1,279,113 | ||||||
BlackRock, Inc. | 9,300 | 5,241,015 | ||||||
Capital One Financial Corp. | 71,771 | 5,157,464 | ||||||
The Charles Schwab Corp. | 63,403 | 2,297,091 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
CME Group, Inc. | 4,642 | $ | 776,653 | |||||
Credit Acceptance Corp. (a) (b) | 1,200 | 406,368 | ||||||
Eaton Vance Corp. | 6,600 | 251,790 | ||||||
Intercontinental Exchange, Inc. | 4,000 | 400,200 | ||||||
LPL Financial Holdings, Inc. | 4,600 | 352,682 | ||||||
Raymond James Financial, Inc. | 8,200 | 596,632 | ||||||
SEI Investments Co. | 8,500 | 431,120 | ||||||
T. Rowe Price Group, Inc. | 13,800 | 1,769,436 | ||||||
The Western Union Co. | 23,500 | 503,605 | ||||||
24,626,134 | ||||||||
Insurance — 5.3% | ||||||||
Aflac, Inc. | 43,500 | 1,581,225 | ||||||
The Allstate Corp. | 19,300 | 1,816,902 | ||||||
American International Group, Inc. | 152,930 | 4,210,163 | ||||||
Arch Capital Group Ltd. (a) | 23,900 | 699,075 | ||||||
Assurant, Inc. | 3,700 | 448,847 | ||||||
Chubb Ltd. | 31,670 | 3,677,520 | ||||||
Equitable Holdings, Inc. | 169,378 | 3,089,455 | ||||||
Everest Re Group Ltd. | 2,300 | 454,342 | ||||||
First American Financial Corp. | 6,200 | 315,642 | ||||||
Globe Life, Inc. | 13,800 | 1,102,620 | ||||||
The Hartford Financial Services Group, Inc. | 30,796 | 1,135,140 | ||||||
Kemper Corp. | 1,500 | 100,245 | ||||||
Loews Corp. | 17,600 | 611,600 | ||||||
Markel Corp. (a) | 890 | 866,593 | ||||||
Marsh & McLennan Cos., Inc. | 18,591 | 2,132,388 | ||||||
MetLife, Inc. | 118,052 | 4,387,993 | ||||||
Old Republic International Corp. | 12,700 | 187,198 | ||||||
Primerica, Inc. | 2,300 | 260,222 | ||||||
Principal Financial Group, Inc. | 19,027 | 766,217 | ||||||
The Progressive Corp. | 33,300 | 3,152,511 | ||||||
Prudential Financial, Inc. | 23,700 | 1,505,424 | ||||||
The Travelers Cos., Inc. | 31,300 | 3,386,347 | ||||||
Voya Financial, Inc. | 9,000 | 431,370 | ||||||
W.R. Berkley Corp. | 9,400 | 574,810 | ||||||
36,893,849 | ||||||||
Real Estate — 0.1% | ||||||||
CBRE Group, Inc. Class A (a) | 20,000 | 939,400 | ||||||
Real Estate Investment Trusts (REITS) — 1.9% | ||||||||
Prologis, Inc. | 83,687 | 8,420,586 | ||||||
Sun Communities, Inc. | 11,215 | 1,576,941 | ||||||
Welltower, Inc. | 18,234 | 1,004,511 | ||||||
Weyerhaeuser Co. | 69,556 | 1,983,737 | ||||||
12,985,775 | ||||||||
142,797,477 | ||||||||
Industrial — 15.3% | ||||||||
Aerospace & Defense — 1.7% | ||||||||
General Dynamics Corp. | 17,100 | 2,367,153 | ||||||
Lockheed Martin Corp. | 16,700 | 6,400,776 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Northrop Grumman Corp. | 10,100 | $ | 3,186,449 | |||||
11,954,378 | ||||||||
Building Materials — 0.8% | ||||||||
Fortune Brands Home & Security, Inc. | 8,100 | 700,812 | ||||||
Johnson Controls International PLC | 82,658 | 3,376,579 | ||||||
Masco Corp. | 16,800 | 926,184 | ||||||
Owens Corning | 6,400 | 440,384 | ||||||
5,443,959 | ||||||||
Electrical Components & Equipment — 0.3% | ||||||||
Emerson Electric Co. | 34,800 | 2,281,836 | ||||||
Electronics — 2.3% | ||||||||
Agilent Technologies, Inc. | 21,386 | 2,158,703 | ||||||
Arrow Electronics, Inc. (a) | 4,700 | 369,702 | ||||||
Honeywell International, Inc. | 60,296 | 9,925,325 | ||||||
Hubbell, Inc. | 3,300 | 451,572 | ||||||
Jabil, Inc. | 8,300 | 284,358 | ||||||
Keysight Technologies, Inc. (a) | 11,209 | 1,107,225 | ||||||
Roper Technologies, Inc. | 2,795 | 1,104,332 | ||||||
Sensata Technologies Holding PLC (a) | 9,500 | 409,830 | ||||||
15,811,047 | ||||||||
Engineering & Construction — 0.2% | ||||||||
Jacobs Engineering Group, Inc. | 18,456 | 1,712,163 | ||||||
Environmental Controls — 0.1% | ||||||||
Pentair PLC | 9,600 | 439,392 | ||||||
Hand & Machine Tools — 0.3% | ||||||||
Lincoln Electric Holdings, Inc. | 3,300 | 303,732 | ||||||
Snap-on, Inc. | 3,300 | 485,529 | ||||||
Stanley Black & Decker, Inc. | 8,800 | 1,427,360 | ||||||
2,216,621 | ||||||||
Machinery – Construction & Mining — 1.1% | ||||||||
BWX Technologies, Inc. | 3,000 | 168,930 | ||||||
Caterpillar, Inc. | 48,838 | 7,284,188 | ||||||
Oshkosh Corp. | 4,100 | 301,350 | ||||||
7,754,468 | ||||||||
Machinery – Diversified — 1.8% | ||||||||
AGCO Corp. | 4,300 | 319,361 | ||||||
Deere & Co. | 39,100 | 8,665,733 | ||||||
Dover Corp. | 8,200 | 888,388 | ||||||
The Middleby Corp. (a) | 1,800 | 161,478 | ||||||
Otis Worldwide Corp. | 9,952 | 621,204 | ||||||
Rockwell Automation, Inc. | 8,100 | 1,787,508 | ||||||
12,443,672 | ||||||||
Miscellaneous - Manufacturing — 2.0% | ||||||||
3M Co. | 31,760 | 5,087,317 | ||||||
Carlisle Cos., Inc. | 3,200 | 391,584 | ||||||
Eaton Corp. PLC | 24,500 | 2,499,735 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
General Electric Co. | 559,282 | $ | 3,484,327 | |||||
ITT, Inc. | 4,700 | 277,535 | ||||||
Parker-Hannifin Corp. | 7,600 | 1,537,784 | ||||||
Textron, Inc. | 7,300 | 263,457 | ||||||
13,541,739 | ||||||||
Packaging & Containers — 1.1% | ||||||||
Amcor PLC | 50,400 | 556,920 | ||||||
Crown Holdings, Inc. (a) | 8,000 | 614,880 | ||||||
Packaging Corp. of America | 38,675 | 4,217,509 | ||||||
Sealed Air Corp. | 8,900 | 345,409 | ||||||
Sonoco Products Co. | 4,600 | 234,922 | ||||||
WestRock Co. | 49,925 | 1,734,394 | ||||||
7,704,034 | ||||||||
Transportation — 3.6% | ||||||||
CSX Corp. | 46,000 | 3,572,820 | ||||||
FedEx Corp. | 6,954 | 1,749,070 | ||||||
Knight-Swift Transportation Holdings, Inc. | 10,200 | 415,140 | ||||||
Norfolk Southern Corp. | 29,737 | 6,363,421 | ||||||
Union Pacific Corp. | 12,500 | 2,460,875 | ||||||
United Parcel Service, Inc. Class B | 63,345 | 10,555,177 | ||||||
25,116,503 | ||||||||
106,419,812 | ||||||||
Technology — 14.6% | ||||||||
Computers — 2.1% | ||||||||
Apple, Inc. | 28,037 | 3,246,965 | ||||||
Cognizant Technology Solutions Corp. Class A | 30,800 | 2,138,136 | ||||||
HP, Inc. | 81,300 | 1,543,887 | ||||||
International Business Machines Corp. | 52,400 | 6,375,508 | ||||||
Leidos Holdings, Inc. | 4,600 | 410,090 | ||||||
NetApp, Inc. | 12,600 | 552,384 | ||||||
14,266,970 | ||||||||
Semiconductors — 8.8% | ||||||||
Analog Devices, Inc. | 8,400 | 980,616 | ||||||
Applied Materials, Inc. | 107,217 | 6,374,051 | ||||||
ASML Holding NV | 2,591 | 956,778 | ||||||
Broadcom, Inc. | 33,263 | 12,118,376 | ||||||
Intel Corp. | 255,900 | 13,250,502 | ||||||
KLA Corp. | 5,000 | 968,700 | ||||||
Lam Research Corp. | 8,600 | 2,853,050 | ||||||
Micron Technology, Inc. (a) | 111,205 | 5,222,187 | ||||||
NVIDIA Corp. | 5,400 | 2,922,588 | ||||||
NXP Semiconductor NV | 30,627 | 3,822,556 | ||||||
ON Semiconductor Corp. (a) | 24,000 | 520,560 | ||||||
Qorvo, Inc. (a) | 6,500 | 838,565 | ||||||
QUALCOMM, Inc. | 66,649 | 7,843,254 | ||||||
Teradyne, Inc. | 5,300 | 421,138 | ||||||
Texas Instruments, Inc. | 16,276 | 2,324,050 | ||||||
61,416,971 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Software — 3.7% | ||||||||
CDK Global, Inc. | 6,800 | $ | 296,412 | |||||
Electronic Arts, Inc. (a) | 17,300 | 2,256,093 | ||||||
Fiserv, Inc. (a) | 7,636 | 786,890 | ||||||
Microsoft Corp. | 43,616 | 9,173,753 | ||||||
Oracle Corp. | 184,400 | 11,008,680 | ||||||
salesforce.com, Inc. (a) | 700 | 175,924 | ||||||
SAP SE | 2,210 | 344,149 | ||||||
Synopsys, Inc. (a) | 9,007 | 1,927,318 | ||||||
25,969,219 | ||||||||
101,653,160 | ||||||||
Utilities — 4.6% | ||||||||
Electric — 4.5% | ||||||||
AES Corp. | 91,921 | 1,664,689 | ||||||
Ameren Corp. | 27,644 | 2,186,088 | ||||||
American Electric Power Co., Inc. | 38,200 | 3,122,086 | ||||||
Dominion Energy, Inc. | 2,600 | 205,218 | ||||||
Duke Energy Corp. | 4,033 | 357,162 | ||||||
Edison International | 2,763 | 140,471 | ||||||
Entergy Corp. | 10,575 | 1,041,955 | ||||||
Evergy, Inc. | 13,400 | 680,988 | ||||||
Exelon Corp. | 31,300 | 1,119,288 | ||||||
Iberdrola SA | 3,690 | 45,416 | ||||||
NextEra Energy, Inc. | 29,647 | 8,228,821 | ||||||
NRG Energy, Inc. | 14,900 | 458,026 | ||||||
OGE Energy Corp. | 11,400 | 341,886 | ||||||
Pinnacle West Capital Corp. | 10,000 | 745,500 | ||||||
Public Service Enterprise Group, Inc. | 74,949 | 4,115,450 | ||||||
Sempra Energy | 39,297 | 4,651,193 | ||||||
The Southern Co. | 37,377 | 2,026,581 | ||||||
Vistra Corp. | 28,500 | 537,510 | ||||||
31,668,328 | ||||||||
Gas — 0.1% | ||||||||
NiSource, Inc. | 25,503 | 561,066 | ||||||
32,229,394 | ||||||||
TOTAL COMMON STOCK (Cost $613,590,829) | 679,728,380 | |||||||
Preferred Stock — 0.1% | ||||||||
Utilities — 0.1% | ||||||||
Electric — 0.1% | ||||||||
The Southern Co. Convertible 6.750% | 9,130 | 424,910 | ||||||
TOTAL PREFERRED STOCK (Cost $456,500) | 424,910 | |||||||
TOTAL EQUITIES (Cost $614,047,329) | 680,153,290 |
MML Equity Fund — Portfolio of Investments (Continued) | ||||||||
Number of Shares | Value | |||||||
Mutual Funds — 2.2% | ||||||||
Diversified Financial Services — 2.2% | ||||||||
iShares Russell 1000 Value ETF (b) | 86,139 | $ | 10,175,600 | |||||
State Street Navigator Securities Lending Prime Portfolio (c) | 5,086,243 | 5,086,243 | ||||||
15,261,843 | ||||||||
TOTAL MUTUAL FUNDS (Cost $14,786,458) | 15,261,843 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $628,833,787) | 695,415,133 | |||||||
Short-Term Investments — 0.5% | ||||||||
Mutual Fund — 0.2% | ||||||||
T. Rowe Price Government Reserve Investment Fund | 1,501,349 | 1,501,349 | ||||||
Principal
Amount | ||||||||
Repurchase Agreement — 0.3% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (d) | $ | 2,357,493 | 2,357,493 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $3,858,842) | 3,858,842 | |||||||
TOTAL INVESTMENTS — 100.7% (Cost $632,692,629) (e) | 699,273,975 | |||||||
Other Assets/(Liabilities) — (0.7)% | (5,023,780 | ) | ||||||
NET ASSETS — 100.0% | $ | 694,250,195 |
Abbreviation Legend | |
ETF | Exchange-Traded Fund |
Notes to Portfolio of Investments | |
Percentages are stated as a percent of net assets. | |
(a) | Non-income producing security. |
(b) | Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2020, was $5,592,961 or 0.81% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $610,238 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(c) | Represents investment of security lending cash collateral. (Note 2). |
(d) | Maturity value of $2,357,493. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $2,404,751. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
MML Equity Rotation Fund — Portfolio of Investments |
September 30, 2020 (Unaudited) |
Number
of Shares | Value | |||||||
Equities — 97.6% | ||||||||
Common Stock — 97.6% | ||||||||
Basic Materials — 2.5% | ||||||||
Chemicals — 1.5% | ||||||||
Celanese Corp. | 1,840 | $ | 197,708 | |||||
Eastman Chemical Co. | 300 | 23,436 | ||||||
Ecolab, Inc. | 565 | 112,910 | ||||||
LyondellBasell Industries NV Class A | 153 | 10,785 | ||||||
The Mosaic Co. | 2,028 | 37,051 | ||||||
Nutrien Ltd. (a) | 1,091 | 42,800 | ||||||
Olin Corp. | 2,900 | 35,902 | ||||||
The Sherwin-Williams Co. | 110 | 76,641 | ||||||
537,233 | ||||||||
Forest Products & Paper — 0.2% | ||||||||
Domtar Corp. | 1,500 | 39,405 | ||||||
International Paper Co. | 751 | 30,446 | ||||||
69,851 | ||||||||
Iron & Steel — 0.8% | ||||||||
Nucor Corp. | 566 | 25,391 | ||||||
Reliance Steel & Aluminum Co. | 2,446 | 249,590 | ||||||
Steel Dynamics, Inc. | 700 | 20,041 | ||||||
295,022 | ||||||||
Mining — 0.0% | ||||||||
Arconic Corp. (b) | 300 | 5,715 | ||||||
907,821 | ||||||||
Communications — 13.9% | ||||||||
Advertising — 0.1% | ||||||||
The Trade Desk, Inc. Class A (b) | 70 | 36,315 | ||||||
Internet — 11.9% | ||||||||
Alphabet, Inc. Class A (b) | 1,106 | 1,620,954 | ||||||
Alphabet, Inc. Class C (b) | 124 | 182,230 | ||||||
Amazon.com, Inc. (b) | 539 | 1,697,165 | ||||||
eBay, Inc. | 7,616 | 396,794 | ||||||
Facebook, Inc. Class A (b) | 520 | 136,188 | ||||||
Netflix, Inc. (b) | 87 | 43,503 | ||||||
Palo Alto Networks, Inc. (b) | 242 | 59,229 | ||||||
Shopify, Inc. Class A (b) | 120 | 122,756 | ||||||
4,258,819 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Media — 1.2% | ||||||||
Comcast Corp. Class A | 8,656 | $ | 400,427 | |||||
Discovery, Inc. Class A (a) (b) | 560 | 12,191 | ||||||
412,618 | ||||||||
Telecommunications — 0.7% | ||||||||
AT&T, Inc. | 3,655 | 104,204 | ||||||
CenturyLink, Inc. | 1,874 | 18,909 | ||||||
Cisco Systems, Inc. | 2,669 | 105,132 | ||||||
Juniper Networks, Inc. | 805 | 17,307 | ||||||
Verizon Communications, Inc. | 237 | 14,099 | ||||||
259,651 | ||||||||
4,967,403 | ||||||||
Consumer, Cyclical — 13.9% | ||||||||
Airlines — 0.0% | ||||||||
American Airlines Group, Inc. (a) | 932 | 11,454 | ||||||
Apparel — 0.1% | ||||||||
Ralph Lauren Corp. | 690 | 46,899 | ||||||
Auto Manufacturers — 4.4% | ||||||||
Cummins, Inc. | 4,772 | 1,007,656 | ||||||
Ford Motor Co. | 2,980 | 19,847 | ||||||
PACCAR, Inc. | 5,908 | 503,834 | ||||||
Wabash National Corp. | 3,900 | 46,644 | ||||||
1,577,981 | ||||||||
Auto Parts & Equipment — 0.7% | ||||||||
Magna International, Inc. | 5,300 | 242,475 | ||||||
Distribution & Wholesale — 0.6% | ||||||||
LKQ Corp. (b) | 1,000 | 27,730 | ||||||
Pool Corp. | 600 | 200,724 | ||||||
228,454 | ||||||||
Home Builders — 1.0% | ||||||||
Thor Industries, Inc. (a) | 800 | 76,208 | ||||||
Toll Brothers, Inc. | 5,926 | 288,359 | ||||||
364,567 | ||||||||
Leisure Time — 0.0% | ||||||||
Carnival Corp. (a) | 527 | 8,000 | ||||||
Lodging — 0.1% | ||||||||
Hilton Worldwide Holdings, Inc. | 243 | 20,733 | ||||||
Retail — 6.9% | ||||||||
Costco Wholesale Corp. | 110 | 39,050 | ||||||
Dollar General Corp. | 260 | 54,501 | ||||||
Dollar Tree, Inc. (b) | 471 | 43,021 | ||||||
Genuine Parts Co. | 1,028 | 97,835 | ||||||
The Home Depot, Inc. | 930 | 258,270 | ||||||
Lowe's Cos., Inc. | 326 | 54,070 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
McDonald's Corp. | 397 | $ | 87,138 | |||||
The Michaels Cos., Inc. (a) (b) | 5,800 | 55,999 | ||||||
Target Corp. | 999 | 157,263 | ||||||
Tractor Supply Co. | 656 | 94,031 | ||||||
Walgreens Boots Alliance, Inc. | 1,782 | 64,010 | ||||||
Walmart, Inc. | 10,130 | 1,417,288 | ||||||
Yum! Brands, Inc. | 388 | 35,424 | ||||||
2,457,900 | ||||||||
Textiles — 0.1% | ||||||||
Mohawk Industries, Inc. (b) | 200 | 19,518 | ||||||
4,977,981 | ||||||||
Consumer, Non-cyclical — 14.6% | ||||||||
Beverages — 0.2% | ||||||||
Brown-Forman Corp. Class A | 500 | 34,340 | ||||||
Coca-Cola European Partners PLC | 899 | 34,890 | ||||||
Molson Coors Beverage Co. Class B | 427 | 14,330 | ||||||
83,560 | ||||||||
Biotechnology — 0.9% | ||||||||
Amgen, Inc. | 174 | 44,224 | ||||||
Biogen, Inc. (b) | 220 | 62,409 | ||||||
Vertex Pharmaceuticals, Inc. (b) | 790 | 214,975 | ||||||
321,608 | ||||||||
Commercial Services — 3.8% | ||||||||
Automatic Data Processing, Inc. | 225 | 31,385 | ||||||
CoreLogic, Inc. | 200 | 13,534 | ||||||
IHS Markit Ltd. | 204 | 16,016 | ||||||
ManpowerGroup, Inc. | 2,155 | 158,026 | ||||||
Paylocity Holding Corp. (b) | 150 | 24,213 | ||||||
PayPal Holdings, Inc. (b) | 980 | 193,089 | ||||||
Quanta Services, Inc. | 400 | 21,144 | ||||||
RELX PLC | 4,717 | 105,519 | ||||||
Robert Half International, Inc. | 1,083 | 57,334 | ||||||
S&P Global, Inc. | 1,494 | 538,737 | ||||||
StoneCo Ltd. Class A (b) | 200 | 10,578 | ||||||
TrueBlue, Inc. (b) | 2,400 | 37,176 | ||||||
Verisk Analytics, Inc. | 758 | 140,465 | ||||||
1,347,216 | ||||||||
Cosmetics & Personal Care — 0.1% | ||||||||
Colgate-Palmolive Co. | 248 | 19,133 | ||||||
Foods — 0.3% | ||||||||
Conagra Brands, Inc. | 500 | 17,855 | ||||||
General Mills, Inc. | 600 | 37,008 | ||||||
The J.M. Smucker Co. | 500 | 57,760 | ||||||
Pilgrim's Pride Corp. (b) | 496 | 7,423 | ||||||
120,046 | ||||||||
Health Care – Products — 2.4% | ||||||||
Abbott Laboratories | 1,352 | 147,138 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Danaher Corp. | 1,717 | $ | 369,722 | |||||
Henry Schein, Inc. (b) | 184 | 10,816 | ||||||
Medtronic PLC | 132 | 13,717 | ||||||
Quidel Corp. (b) | 90 | 19,744 | ||||||
Thermo Fisher Scientific, Inc. | 611 | 269,769 | ||||||
West Pharmaceutical Services, Inc. | 120 | 32,988 | ||||||
863,894 | ||||||||
Health Care – Services — 1.6% | ||||||||
Anthem, Inc. | 328 | 88,097 | ||||||
Centene Corp. (b) | 314 | 18,316 | ||||||
HCA Healthcare, Inc. | 1,317 | 164,204 | ||||||
Laboratory Corp. of America Holdings (b) | 243 | 45,750 | ||||||
Quest Diagnostics, Inc. | 595 | 68,121 | ||||||
UnitedHealth Group, Inc. | 561 | 174,903 | ||||||
559,391 | ||||||||
Household Products & Wares — 0.1% | ||||||||
Quanex Building Products Corp. | 2,900 | 53,476 | ||||||
Pharmaceuticals — 5.2% | ||||||||
AbbVie, Inc. | 2,707 | 237,106 | ||||||
AmerisourceBergen Corp. | 995 | 96,435 | ||||||
Bristol-Myers Squibb Co. | 10,621 | 640,340 | ||||||
Cardinal Health, Inc. | 374 | 17,559 | ||||||
Cigna Corp. | 300 | 50,823 | ||||||
CVS Health Corp. | 884 | 51,626 | ||||||
DexCom, Inc. (b) | 130 | 53,590 | ||||||
Horizon Therapeutics PLC (b) | 237 | 18,410 | ||||||
Jazz Pharmaceuticals PLC (b) | 261 | 37,216 | ||||||
McKesson Corp. | 3,077 | 458,258 | ||||||
Merck & Co., Inc. | 1,077 | 89,337 | ||||||
Pfizer, Inc. | 2,745 | 100,742 | ||||||
1,851,442 | ||||||||
5,219,766 | ||||||||
Energy — 1.2% | ||||||||
Energy – Alternate Sources — 0.1% | ||||||||
SolarEdge Technologies, Inc. (b) | 130 | 30,985 | ||||||
Oil & Gas — 0.7% | ||||||||
Chevron Corp. | 651 | 46,872 | ||||||
Cimarex Energy Co. | 490 | 11,922 | ||||||
Concho Resources, Inc. | 385 | 16,986 | ||||||
Exxon Mobil Corp. | 4,978 | 170,895 | ||||||
Occidental Petroleum Corp. | 514 | 5,145 | ||||||
Phillips 66 | 154 | 7,983 | ||||||
259,803 | ||||||||
Oil & Gas Services — 0.3% | ||||||||
Schlumberger NV | 6,671 | 103,801 | ||||||
Pipelines — 0.1% | ||||||||
Kinder Morgan, Inc. | 1,993 | 24,574 | ||||||
419,163 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Financial — 14.3% | ||||||||
Banks — 7.4% | ||||||||
Bank of America Corp. | 25,300 | $ | 609,477 | |||||
CIT Group, Inc. | 600 | 10,626 | ||||||
Citigroup, Inc. | 14,700 | 633,717 | ||||||
The Goldman Sachs Group, Inc. | 2,060 | 413,998 | ||||||
JP Morgan Chase & Co. | 7,200 | 693,144 | ||||||
KeyCorp | 17,863 | 213,106 | ||||||
Morgan Stanley | 1,600 | 77,360 | ||||||
2,651,428 | ||||||||
Diversified Financial Services — 5.2% | ||||||||
AerCap Holdings NV (b) | 2,000 | 50,380 | ||||||
Capital One Financial Corp. | 504 | 36,217 | ||||||
Discover Financial Services | 400 | 23,112 | ||||||
Mastercard, Inc. Class A | 1,155 | 390,586 | ||||||
Nasdaq, Inc. | 170 | 20,861 | ||||||
SEI Investments Co. | 2,300 | 116,656 | ||||||
Synchrony Financial | 5,400 | 141,318 | ||||||
Visa, Inc. Class A | 5,460 | 1,091,836 | ||||||
1,870,966 | ||||||||
Insurance — 1.5% | ||||||||
Aflac, Inc. | 3,600 | 130,860 | ||||||
Berkshire Hathaway, Inc. Class B (b) | 1,900 | 404,586 | ||||||
535,446 | ||||||||
Real Estate Investment Trusts (REITS) — 0.2% | ||||||||
Iron Mountain, Inc. (a) | 1,000 | 26,790 | ||||||
SBA Communications Corp. | 110 | 35,033 | ||||||
61,823 | ||||||||
5,119,663 | ||||||||
Industrial — 8.5% | ||||||||
Aerospace & Defense — 0.4% | ||||||||
Barnes Group, Inc. | 900 | 32,166 | ||||||
Lockheed Martin Corp. | 147 | 56,342 | ||||||
Raytheon Technologies Corp. | 635 | 36,538 | ||||||
Spirit AeroSystems Holdings, Inc. Class A | 172 | 3,253 | ||||||
128,299 | ||||||||
Building Materials — 0.5% | ||||||||
Carrier Global Corp. | 3,635 | 111,013 | ||||||
Patrick Industries, Inc. | 1,100 | 63,272 | ||||||
174,285 | ||||||||
Electrical Components & Equipment — 0.0% | ||||||||
AMETEK, Inc. | 140 | 13,916 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Electronics — 1.9% | ||||||||
Agilent Technologies, Inc. | 300 | $ | 30,282 | |||||
Allegion PLC | 195 | 19,287 | ||||||
Amphenol Corp. Class A | 237 | 25,660 | ||||||
Garmin Ltd. | 212 | 20,110 | ||||||
Honeywell International, Inc. | 1,320 | 217,285 | ||||||
Keysight Technologies, Inc. (b) | 1,270 | 125,451 | ||||||
Roper Technologies, Inc. | 110 | 43,462 | ||||||
Sensata Technologies Holding PLC (b) | 954 | 41,156 | ||||||
TE Connectivity Ltd. | 838 | 81,906 | ||||||
Trimble, Inc. (b) | 200 | 9,740 | ||||||
TTM Technologies, Inc. (b) | 4,400 | 50,204 | ||||||
664,543 | ||||||||
Engineering & Construction — 0.4% | ||||||||
AECOM (b) | 957 | 40,041 | ||||||
Arcosa, Inc. | 2,083 | 91,839 | ||||||
131,880 | ||||||||
Environmental Controls — 0.5% | ||||||||
Republic Services, Inc. | 754 | 70,386 | ||||||
Waste Management, Inc. | 895 | 101,287 | ||||||
171,673 | ||||||||
Machinery – Diversified — 1.4% | ||||||||
AGCO Corp. | 4,400 | 326,788 | ||||||
Cognex Corp. | 300 | 19,530 | ||||||
Dover Corp. | 307 | 33,261 | ||||||
Ingersoll Rand, Inc. (b) | 420 | 14,952 | ||||||
Otis Worldwide Corp. | 1,817 | 113,417 | ||||||
507,948 | ||||||||
Miscellaneous - Manufacturing — 0.6% | ||||||||
3M Co. | 158 | 25,308 | ||||||
Eaton Corp. PLC | 1,193 | 121,722 | ||||||
General Electric Co. | 2,143 | 13,351 | ||||||
Parker-Hannifin Corp. | 73 | 14,771 | ||||||
Trane Technologies PLC | 476 | 57,715 | ||||||
232,867 | ||||||||
Packaging & Containers — 0.8% | ||||||||
WestRock Co. | 8,100 | 281,394 | ||||||
Shipbuilding — 0.1% | ||||||||
Huntington Ingalls Industries, Inc. | 246 | 34,624 | ||||||
Transportation — 1.9% | ||||||||
Kansas City Southern | 280 | 50,632 | ||||||
Norfolk Southern Corp. | 1,800 | 385,182 | ||||||
Union Pacific Corp. | 1,220 | 240,182 | ||||||
675,996 | ||||||||
3,017,425 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Technology — 28.7% | ||||||||
Computers — 9.5% | ||||||||
Accenture PLC Class A | 158 | $ | 35,706 | |||||
Apple, Inc. | 21,548 | 2,495,474 | ||||||
Cognizant Technology Solutions Corp. Class A | 2,025 | 140,575 | ||||||
Crowdstrike Holdings, Inc. Class A (b) | 220 | 30,210 | ||||||
DXC Technology Co. | 10,081 | 179,946 | ||||||
Fortinet, Inc. (b) | 960 | 113,098 | ||||||
HP, Inc. | 803 | 15,249 | ||||||
International Business Machines Corp. | 1,246 | 151,601 | ||||||
Seagate Technology PLC | 5,006 | 246,646 | ||||||
3,408,505 | ||||||||
Semiconductors — 8.7% | ||||||||
Advanced Micro Devices, Inc. (b) | 751 | 61,575 | ||||||
Applied Materials, Inc. | 2,244 | 133,406 | ||||||
ASML Holding NV | 810 | 299,109 | ||||||
Broadcom, Inc. | 2,798 | 1,019,367 | ||||||
Entegris, Inc. | 100 | 7,434 | ||||||
Intel Corp. | 896 | 46,395 | ||||||
KLA Corp. | 680 | 131,743 | ||||||
Lam Research Corp. | 1,295 | 429,616 | ||||||
Micron Technology, Inc. (b) | 9,400 | 441,424 | ||||||
Monolithic Power Systems, Inc. | 90 | 25,165 | ||||||
NVIDIA Corp. | 670 | 362,617 | ||||||
Skyworks Solutions, Inc. | 900 | 130,950 | ||||||
Texas Instruments, Inc. | 176 | 25,131 | ||||||
3,113,932 | ||||||||
Software — 10.5% | ||||||||
ANSYS, Inc. (b) | 281 | 91,952 | ||||||
Citrix Systems, Inc. | 259 | 35,667 | ||||||
Fair Isaac Corp. (b) | 330 | 140,375 | ||||||
j2 Global, Inc. (b) | 500 | 34,610 | ||||||
Microsoft Corp. | 12,722 | 2,675,818 | ||||||
MSCI, Inc. | 760 | 271,153 | ||||||
Oracle Corp. | 421 | 25,134 | ||||||
Paychex, Inc. | 641 | 51,133 | ||||||
Take-Two Interactive Software, Inc. (b) | 120 | 19,826 | ||||||
Veeva Systems, Inc. Class A (b) | 866 | 243,511 | ||||||
VMware, Inc. Class A (a) (b) | 1,038 | 149,129 | ||||||
3,738,308 | ||||||||
10,260,745 | ||||||||
TOTAL
COMMON STOCK (Cost $28,514,868) | 34,889,967 | |||||||
TOTAL
EQUITIES (Cost $28,514,868) | 34,889,967 |
MML Equity Rotation Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Warrants — 0.0% | ||||||||
Energy — 0.0% | ||||||||
Oil & Gas — 0.0% | ||||||||
Occidental Petroleum Corp., Expires 8/03/27 (b) | 64 | $ | 192 | |||||
TOTAL
WARRANTS (Cost $317) | 192 | |||||||
Rights — 0.0% | ||||||||
Consumer, Non-cyclical — 0.0% | ||||||||
Pharmaceuticals — 0.0% | ||||||||
Bristol-Myers Squibb Co., Expires 3/31/21 (b) | 993 | 2,234 | ||||||
TOTAL
RIGHTS (Cost $2,115) | 2,234 | |||||||
Mutual Funds — 0.4% | ||||||||
Diversified Financial Services — 0.4% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (c) | 133,048 | 133,048 | ||||||
TOTAL
MUTUAL FUNDS (Cost $133,048) | 133,048 | |||||||
TOTAL
LONG-TERM INVESTMENTS (Cost $28,650,348) | 35,025,441 |
Principal Amount | ||||||||
Short-Term Investments — 2.5% | ||||||||
Repurchase Agreement — 2.5% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (d) | $ | 895,491 | 895,491 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $895,491) | 895,491 | |||||||
TOTAL INVESTMENTS — 100.5% (Cost $29,545,839) (e) | 35,920,932 | |||||||
Other Assets/(Liabilities) — (0.5)% | (179,950 | ) | ||||||
NET ASSETS — 100.0% | $ | 35,740,982 |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2020, was $378,625 or 1.06% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $255,871 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(b) | Non-income producing security. |
(c) | Represents investment of security lending cash collateral. (Note 2). |
(d) | Maturity value of $895,491. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $913,462. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
MML High Yield Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Number of Shares | Value | |||||||
Equities — 0.1% | ||||||||
Common Stock — 0.1% | ||||||||
Consumer, Non-cyclical — 0.0% | ||||||||
Agriculture — 0.0% | ||||||||
Pinnacle Operating Corp. (a) (b) | 178,174 | $ | — | |||||
Energy — 0.1% | ||||||||
Oil & Gas — 0.1% | ||||||||
Fieldwood Energy LLC (b) | 3,193 | 33 | ||||||
Fieldwood Energy LLC (b) | 13,011 | 130 | ||||||
Jupiter Resources, Inc. (b) | 191,606 | 143,704 | ||||||
143,867 | ||||||||
TOTAL
COMMON STOCK (Cost $1,318,416) | 143,867 | |||||||
TOTAL
EQUITIES (Cost $1,318,416) | 143,867 |
Principal Amount | ||||||||
Bonds & Notes — 97.8% | ||||||||
Bank Loans — 4.3% | ||||||||
Oil & Gas — 0.0% | ||||||||
Fieldwood Energy LLC, Exit 2nd Lien Term Loan, 0.000% 4/11/23 (c) | $ | 387,384 | 89 | |||||
Packaging & Containers — 1.8% | ||||||||
BWAY
Holding Co., 2017 Term Loan B, 3 mo. LIBOR + 3.250% 3.523% VRN 4/03/24 |
1,184,496 | 1,109,730 | ||||||
Consolidated
Energy Finance, SA, Term Loan B, 1 mo. LIBOR + 2.500% 2.656% VRN 5/07/25 |
883,485 | 802,867 | ||||||
Trident
TPI Holdings, Inc., 2017 USD Term Loan B1, 3 mo. LIBOR + 3.000% 4.000% VRN 10/17/24 |
161,721 | 157,476 | ||||||
2,070,073 | ||||||||
Software — 2.5% | ||||||||
Banff
Merger Sub, Inc., 2018 USD Term Loan B, 1 mo. LIBOR + 4.250% 4.397% VRN 10/02/25 |
860,644 | 833,457 | ||||||
Finastra USA, Inc. | ||||||||
USD
1st Lien Term Loan, 3 mo. LIBOR + 3.500%, 6 mo. LIBOR + 3.500% 4.500% VRN 6/13/24 |
919,552 | 857,712 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
USD 2nd Lien Term Loan,
6 mo. LIBOR + 7.250% 8.250% VRN 6/13/25 |
$ | 1,400,000 | $ | 1,311,100 | ||||
3,002,269 | ||||||||
TOTAL
BANK LOANS (Cost $5,444,882) |
5,072,431 | |||||||
Corporate Debt — 93.5% | ||||||||
Advertising — 0.4% | ||||||||
Terrier Media Buyer,
Inc. 8.875% 12/15/27 (d) |
523,000 | 526,922 | ||||||
Aerospace & Defense — 3.9% | ||||||||
Signature Aviation
US Holdings, Inc. 4.000% 3/01/28 (d) |
651,000 | 605,430 | ||||||
TransDigm, Inc. 5.500% 11/15/27 |
963,000 | 925,491 | ||||||
6.250% 3/15/26 (d) | 316,000 | 329,997 | ||||||
6.375% 6/15/26 | 654,000 | 656,570 | ||||||
8.000% 12/15/25 (d) | 255,000 | 277,313 | ||||||
Triumph Group, Inc. 5.250% 6/01/22 |
305,000 | 250,100 | ||||||
6.250% 9/15/24 (d) | 306,000 | 260,418 | ||||||
7.750% 8/15/25 | 1,243,000 | 797,074 | ||||||
8.875% 6/01/24 (d) | 466,000 | 496,290 | ||||||
4,598,683 | ||||||||
Agriculture — 0.4% | ||||||||
JBS Investments II
GmbH 7.000% 1/15/26 (d) |
390,000 | 416,325 | ||||||
Airlines — 0.1% | ||||||||
American Airlines Group,
Inc. 3.750% 3/01/25 (d) |
218,000 | 110,533 | ||||||
Auto Manufacturers — 4.2% | ||||||||
Allison Transmission,
Inc. 4.750% 10/01/27 (d) |
589,000 | 605,934 | ||||||
Ford Motor Co. 7.450% 7/16/31 |
472,000 | 544,570 | ||||||
8.500% 4/21/23 | 312,000 | 340,080 | ||||||
9.000% 4/22/25 | 241,000 | 276,309 | ||||||
9.625% 4/22/30 | 726,000 | 937,447 | ||||||
Ford Motor Credit Co.
LLC 3.087% 1/09/23 |
92,000 | 90,150 | ||||||
3.664% 9/08/24 | 200,000 | 195,705 | ||||||
4.125% 8/17/27 | 289,000 | 281,052 | ||||||
4.134% 8/04/25 | 200,000 | 198,083 | ||||||
4.542% 8/01/26 | 1,039,000 | 1,036,538 | ||||||
5.596% 1/07/22 | 200,000 | 204,500 | ||||||
5.875% 8/02/21 | 281,000 | 286,269 | ||||||
4,996,637 | ||||||||
Auto Parts & Equipment — 0.5% | ||||||||
Adient Global Holdings
Ltd. 4.875% 8/15/26 (d) |
170,000 | 161,925 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Clarios Global LP/Clarios
US Finance Co. 8.500% 5/15/27 (d) |
$ | 467,000 | $ | 482,177 | ||||
644,102 | ||||||||
Building Materials — 2.3% | ||||||||
Cemex SAB de CV 5.200% 9/17/30 (d) |
218,000 | 219,068 | ||||||
7.375% 6/05/27 (d) | 352,000 | 380,340 | ||||||
Cornerstone Building
Brands, Inc. 6.125% 1/15/29 (d) |
171,000 | 173,204 | ||||||
Forterra Finance LLC
/ FRTA Finance Corp. 6.500% 7/15/25 (d) |
150,000 | 158,483 | ||||||
Griffon Corp. 5.750% 3/01/28 |
211,000 | 220,248 | ||||||
James Hardie International
Finance DAC 4.750% 1/15/25 (d) |
126,000 | 128,678 | ||||||
5.000% 1/15/28 (d) | 485,000 | 505,612 | ||||||
PGT Innovations, Inc. 6.750% 8/01/26 (d) |
368,000 | 391,920 | ||||||
Standard Industries,
Inc. 4.750% 1/15/28 (d) |
581,000 | 602,787 | ||||||
2,780,340 | ||||||||
Chemicals — 1.8% | ||||||||
CF Industries, Inc. 4.950% 6/01/43 |
63,000 | 73,258 | ||||||
5.375% 3/15/44 | 240,000 | 288,811 | ||||||
Consolidated Energy
Finance SA 6.875% 6/15/25 (d) |
915,000 | 832,650 | ||||||
CVR Partners LP/CVR
Nitrogen Finance Corp. 9.250% 6/15/23 (d) |
451,000 | 417,175 | ||||||
Nouryon Holding BV
8.000% 10/01/26 (d) |
141,000 | 149,246 | ||||||
Valvoline, Inc. 4.250% 2/15/30 (d) |
206,000 | 210,120 | ||||||
4.375% 8/15/25 | 157,000 | 161,514 | ||||||
2,132,774 | ||||||||
Coal — 1.7% | ||||||||
Peabody Energy Corp. 6.000% 3/31/22 (d) |
1,383,000 | 802,140 | ||||||
SunCoke Energy Partners
LP/SunCoke Energy Partners Finance Corp. 7.500% 6/15/25 (d) |
759,000 | 684,633 | ||||||
Warrior Met Coal, Inc. 8.000% 11/01/24 (d) |
534,000 | 543,847 | ||||||
2,030,620 | ||||||||
Commercial Services — 0.9% | ||||||||
Korn Ferry 4.625% 12/15/27 (d) |
95,000 | 95,950 | ||||||
Prime Security Services
Borrower LLC / Prime Finance, Inc. 6.250% 1/15/28 (d) |
802,000 | 812,025 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
United Rentals North
America, Inc. 3.875% 2/15/31 |
$ | 168,000 | $ | 170,520 | ||||
1,078,495 | ||||||||
Computers — 2.4% | ||||||||
Banff Merger Sub, Inc. 9.750% 9/01/26 (d) |
466,000 | 492,609 | ||||||
Dell International
LLC/EMC Corp. 7.125% 6/15/24 (d) |
904,000 | 940,332 | ||||||
Diebold Nixdorf, Inc. 9.375% 7/15/25 (d) |
675,000 | 712,125 | ||||||
NCR Corp. 5.000% 10/01/28 (d) |
235,000 | 235,188 | ||||||
5.250% 10/01/30 (d) | 113,000 | 113,000 | ||||||
Science Applications
International Corp. 4.875% 4/01/28 (d) |
189,000 | 191,890 | ||||||
Western Digital Corp. 4.750% 2/15/26 |
104,000 | 112,645 | ||||||
2,797,789 | ||||||||
Distribution & Wholesale — 1.7% | ||||||||
Core & Main Holdings
LP 8.625% 9/15/24 (d) |
155,000 | 156,163 | ||||||
Core & Main LP
6.125% 8/15/25 (d) |
313,000 | 317,046 | ||||||
KAR Auction Services,
Inc. 5.125% 6/01/25 (d) |
475,000 | 474,990 | ||||||
Resideo Funding, Inc. 6.125% 11/01/26 (d) |
800,000 | 788,000 | ||||||
Univar Solutions USA,
Inc. 5.125% 12/01/27 (d) |
254,000 | 260,667 | ||||||
1,996,866 | ||||||||
Diversified Financial Services — 2.3% | ||||||||
Alliance Data Systems
Corp. 4.750% 12/15/24 (d) |
767,000 | 718,909 | ||||||
Global Aircraft Leasing
Co. Ltd. 6.500% 9/15/24 (d) |
1,895,301 | 1,056,631 | ||||||
LPL Holdings, Inc. 4.625% 11/15/27 (d) |
346,000 | 349,460 | ||||||
5.750% 9/15/25 (d) | 87,000 | 90,148 | ||||||
OneMain Finance Corp. 5.375% 11/15/29 |
552,000 | 574,080 | ||||||
2,789,228 | ||||||||
Electric — 2.6% | ||||||||
NRG Energy, Inc. 5.250% 6/15/29 (d) |
374,000 | 406,725 | ||||||
6.625% 1/15/27 | 702,000 | 742,365 | ||||||
PG&E Corp. 5.000% 7/01/28 |
567,000 | 549,990 | ||||||
5.250% 7/01/30 | 289,000 | 279,607 | ||||||
Pike Corp. 5.500% 9/01/28 (d) |
447,000 | 449,767 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Vistra Operations Co.
LLC 4.300% 7/15/29 (d) |
$ | 568,000 | $ | 619,985 | ||||
3,048,439 | ||||||||
Electrical Components & Equipment — 0.4% | ||||||||
WESCO Distribution,
Inc. Co. 7.125% 6/15/25 (d) |
233,000 | 253,807 | ||||||
7.250% 6/15/28 (d) | 241,000 | 264,058 | ||||||
517,865 | ||||||||
Engineering & Construction — 0.4% | ||||||||
New Enterprise Stone
& Lime Co., Inc. 9.750% 7/15/28 (d) |
323,000 | 348,840 | ||||||
Weekley Homes LLC /
Weekley Finance Corp. 4.875% 9/15/28 (d) |
152,000 | 153,520 | ||||||
502,360 | ||||||||
Entertainment — 2.2% | ||||||||
Banijay Entertainment
SASU 5.375% 3/01/25 (d) |
241,000 | 242,506 | ||||||
Caesars Entertainment,
Inc. 6.250% 7/01/25 (d) |
432,000 | 451,546 | ||||||
8.125% 7/01/27 (d) | 443,000 | 469,580 | ||||||
Caesars Resort Collection
LLC / CRC Finco, Inc. 5.750% 7/01/25 (d) |
242,000 | 249,563 | ||||||
Caesars Resort Collection
LLC/CRC Finco, Inc. 5.250% 10/15/25 (d) |
266,000 | 257,355 | ||||||
Live Nation Entertainment,
Inc. 4.750% 10/15/27 (d) |
407,000 | 381,180 | ||||||
Scientific Games International,
Inc. 5.000% 10/15/25 (d) |
204,000 | 205,020 | ||||||
7.250% 11/15/29 (d) | 187,000 | 189,805 | ||||||
8.250% 3/15/26 (d) | 37,000 | 38,631 | ||||||
8.625% 7/01/25 (d) | 147,000 | 153,391 | ||||||
2,638,577 | ||||||||
Foods — 3.9% | ||||||||
JBS USA LUX SA/JBS
USA Finance, Inc. 5.875% 7/15/24 (d) |
323,000 | 329,492 | ||||||
6.750% 2/15/28 (d) | 824,000 | 896,034 | ||||||
JBS USA LUX SA/JBS
USA Food Co./JBS USA Finance, Inc. 5.500% 1/15/30 (d) |
826,000 | 899,076 | ||||||
6.500% 4/15/29 (d) | 1,094,000 | 1,214,307 | ||||||
Kraft Heinz Foods Co. 3.750% 4/01/30 (d) |
126,000 | 133,095 | ||||||
3.875% 5/15/27 (d) | 250,000 | 264,803 | ||||||
4.250% 3/01/31 (d) | 204,000 | 223,819 | ||||||
5.200% 7/15/45 | 178,000 | 194,596 | ||||||
6.500% 2/09/40 | 94,000 | 119,466 | ||||||
6.875% 1/26/39 | 206,000 | 275,928 | ||||||
Simmons Foods, Inc. 7.750% 1/15/24 (d) |
100,000 | 104,750 | ||||||
4,655,366 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Forest Products & Paper — 0.2% | ||||||||
Clearwater Paper Corp. 4.750% 8/15/28 (d) |
$ | 230,000 | $ | 230,575 | ||||
Hand & Machine Tools — 0.5% | ||||||||
Apex Tool Group LLC/BC
Mountain Finance, Inc. 9.000% 2/15/23 (d) |
701,000 | 648,425 | ||||||
Health Care – Products — 1.1% | ||||||||
Avanos Medical, Inc. 6.250% 10/15/22 |
1,300,000 | 1,300,520 | ||||||
Health Care – Services — 4.1% | ||||||||
Centene Corp. 4.250% 12/15/27 |
241,000 | 252,190 | ||||||
4.625% 12/15/29 | 918,000 | 990,210 | ||||||
5.250% 4/01/25 (d) | 232,000 | 241,106 | ||||||
5.375% 6/01/26 (d) | 52,000 | 54,795 | ||||||
Encompass Health Corp.
Co. 4.625% 4/01/31 (e) |
189,000 | 189,000 | ||||||
HCA, Inc. 3.500% 9/01/30 |
1,106,000 | 1,126,881 | ||||||
Molina Healthcare,
Inc. 4.375% 6/15/28 (d) |
200,000 | 204,100 | ||||||
Radiology Partners,
Inc. 9.250% 2/01/28 (d) |
300,000 | 312,000 | ||||||
Tenet Healthcare Corp. 4.625% 7/15/24 |
400,000 | 402,000 | ||||||
4.625% 9/01/24 (d) | 323,000 | 325,623 | ||||||
6.125% 10/01/28 (d) | 350,000 | 340,375 | ||||||
8.125% 4/01/22 | 340,000 | 378,046 | ||||||
4,816,326 | ||||||||
Home Builders — 2.0% | ||||||||
Brookfield Residential
Properties, Inc. 6.375% 5/15/25 (d) |
491,000 | 491,000 | ||||||
Brookfield Residential
Properties, Inc. / Brookfield Residential US Corp. 4.875% 2/15/30 (d) |
261,000 | 244,298 | ||||||
M/I Homes, Inc. 4.950% 2/01/28 |
368,000 | 379,040 | ||||||
Mattamy Group Corp. 4.625% 3/01/30 (d) |
668,000 | 676,417 | ||||||
STL Holding Co. LLC
7.500% 2/15/26 (d) |
440,000 | 441,650 | ||||||
TRI Pointe Group, Inc. 5.700% 6/15/28 |
153,000 | 167,535 | ||||||
2,399,940 | ||||||||
Housewares — 0.4% | ||||||||
Newell Brands, Inc. 4.700% STEP 4/01/26 |
337,000 | 358,905 | ||||||
5.875% STEP 4/01/36 | 126,000 | 144,315 | ||||||
503,220 | ||||||||
Insurance — 1.0% | ||||||||
Acrisure LLC/Acrisure Finance, Inc. |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
7.000% 11/15/25 (d) | $ | 691,000 | $ | 678,821 | ||||
8.125% 2/15/24 (d) | 509,000 | 533,178 | ||||||
1,211,999 | ||||||||
Internet — 1.7% | ||||||||
Netflix, Inc. 4.875% 6/15/30 (d) |
321,000 | 365,940 | ||||||
5.375% 11/15/29 (d) | 523,000 | 616,434 | ||||||
5.875% 11/15/28 | 595,000 | 709,957 | ||||||
Northwest Fiber LLC
/ Northwest Fiber Finance Sub, Inc. 10.750% 6/01/28 (d) |
121,000 | 131,890 | ||||||
Uber Technologies,
Inc. 6.250% 1/15/28 (d) |
174,000 | 178,733 | ||||||
2,002,954 | ||||||||
Investment Companies — 0.9% | ||||||||
Icahn Enterprises LP/
Icahn Enterprises Finance Corp. 4.750% 9/15/24 |
141,000 | 142,763 | ||||||
Icahn Enterprises LP/Icahn
Enterprises Finance Corp. 5.250% 5/15/27 |
113,000 | 117,723 | ||||||
6.375% 12/15/25 | 761,000 | 782,281 | ||||||
1,042,767 | ||||||||
Iron & Steel — 0.2% | ||||||||
Big River Steel LLC
/ BRS Finance Corp. 6.625% 1/31/29 (d) |
254,000 | 256,832 | ||||||
Leisure Time — 1.6% | ||||||||
Brunswick Corp. 7.375% 9/01/23 |
285,000 | 329,425 | ||||||
7.125% 8/01/27 | 569,000 | 701,976 | ||||||
Carlson Travel, Inc. 6.750% 12/15/25 (d) |
296,000 | 223,480 | ||||||
11.500% 12/15/26 (d) | 988,000 | 595,181 | ||||||
1,850,062 | ||||||||
Lodging — 1.4% | ||||||||
Wyndham Destinations,
Inc. 6.625% 7/31/26 (d) |
213,000 | 223,141 | ||||||
Wyndham Hotels &
Resorts, Inc. 4.375% 8/15/28 (d) |
185,000 | 179,450 | ||||||
Wynn Las Vegas LLC/Wynn
Las Vegas Capital Corp. 5.250% 5/15/27 (d) |
385,000 | 358,050 | ||||||
5.500% 3/01/25 (d) | 740,000 | 698,375 | ||||||
Wynn Macau Ltd. 5.125% 12/15/29 (d) |
268,000 | 257,139 | ||||||
1,716,155 | ||||||||
Machinery – Diversified — 0.3% | ||||||||
Clark Equipment Co. 5.875% 6/01/25 (d) |
291,000 | 301,549 | ||||||
Vertical US Newco,
Inc. 5.250% 7/15/27 (d) |
84,000 | 87,298 | ||||||
388,847 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Media — 6.8% | ||||||||
Altice Financing SA
5.000% 1/15/28 (d) |
$ | 316,000 | $ | 306,915 | ||||
Block Communications,
Inc. 4.875% 3/01/28 (d) |
340,000 | 346,800 | ||||||
CCO Holdings LLC/CCO
Holdings Capital Corp. 4.500% 8/15/30 (d) |
702,000 | 737,131 | ||||||
4.500% 5/01/32 (d) | 647,000 | 675,306 | ||||||
4.750% 3/01/30 (d) | 236,000 | 249,865 | ||||||
Clear Channel Worldwide
Holdings, Inc. 5.125% 8/15/27 (d) |
313,000 | 300,558 | ||||||
9.250% 2/15/24 | 210,000 | 203,574 | ||||||
CSC Holdings LLC 3.375% 2/15/31 (d) |
500,000 | 484,125 | ||||||
4.625% 12/01/30 (d) | 484,000 | 487,630 | ||||||
DISH DBS Corp. 5.000% 3/15/23 |
207,000 | 211,140 | ||||||
7.750% 7/01/26 | 217,000 | 238,561 | ||||||
DISH Network Corp. 3.375% 8/15/26 |
680,000 | 624,238 | ||||||
LCPR Senior Secured
Financing DAC 6.750% 10/15/27 (d) |
314,000 | 328,130 | ||||||
Midcontinent Communications
/ Midcontinent Finance Corp. 5.375% 8/15/27 (d) |
205,000 | 210,637 | ||||||
Radiate Holdco LLC
/ Radiate Finance, Inc. 4.500% 9/15/26 (d) |
397,000 | 396,917 | ||||||
6.500% 9/15/28 (d) | 502,000 | 514,431 | ||||||
Sirius XM Radio, Inc. 5.375% 7/15/26 (d) |
167,000 | 173,797 | ||||||
5.500% 7/01/29 (d) | 226,000 | 242,385 | ||||||
TEGNA, Inc. 4.625% 3/15/28 (d) |
447,000 | 437,077 | ||||||
Townsquare Media, Inc. 6.500% 4/01/23 (d) |
124,000 | 113,615 | ||||||
Virgin Media Finance
PLC 5.000% 7/15/30 (d) |
147,000 | 146,265 | ||||||
Ziggo BV 4.875% 1/15/30 (d) |
153,000 | 158,355 | ||||||
5.500% 1/15/27 (d) | 440,000 | 460,900 | ||||||
8,048,352 | ||||||||
Mining — 4.2% | ||||||||
Compass Minerals International,
Inc. 4.875% 7/15/24 (d) |
294,000 | 299,942 | ||||||
6.750% 12/01/27 (d) | 350,000 | 378,000 | ||||||
First Quantum Minerals
Ltd. 6.875% 10/15/27 (d) (e) |
800,000 | 771,000 | ||||||
7.250% 4/01/23 (d) | 659,000 | 658,176 | ||||||
7.500% 4/01/25 (d) | 647,000 | 639,954 | ||||||
Freeport-McMoRan, Inc. 4.125% 3/01/28 |
69,000 | 69,862 | ||||||
4.375% 8/01/28 | 359,000 | 371,190 | ||||||
4.625% 8/01/30 | 600,000 | 630,870 | ||||||
Hudbay Minerals, Inc. 6.125% 4/01/29 (d) |
147,000 | 145,530 | ||||||
Kinross Gold Corp. 6.875% 9/01/41 |
476,000 | 623,253 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Northwest Acquisitions
ULC/Dominion Finco, Inc. 7.125% 11/01/22 (c) (d) |
$ | 884,000 | $ | 14,144 | ||||
Novelis Corp. 4.750% 1/30/30 (d) |
417,000 | 409,586 | ||||||
5,011,507 | ||||||||
Miscellaneous - Manufacturing — 1.2% | ||||||||
Amsted Industries,
Inc. 5.625% 7/01/27 (d) |
617,000 | 656,377 | ||||||
Gates Global LLC /
Gates Corp. 6.250% 1/15/26 (d) |
700,000 | 721,553 | ||||||
1,377,930 | ||||||||
Oil & Gas — 7.3% | ||||||||
Antero Resources Corp. 5.375% 11/01/21 |
410,000 | 389,500 | ||||||
Apache Corp. 4.375% 10/15/28 |
130,000 | 118,950 | ||||||
4.750% 4/15/43 | 65,000 | 57,809 | ||||||
5.100% 9/01/40 | 130,000 | 116,431 | ||||||
5.350% 7/01/49 | 197,000 | 173,852 | ||||||
Cenovus Energy, Inc. 4.250% 4/15/27 |
93,000 | 84,079 | ||||||
5.400% 6/15/47 | 138,000 | 116,589 | ||||||
6.750% 11/15/39 | 155,000 | 155,829 | ||||||
Continental Resources,
Inc. 3.800% 6/01/24 |
149,000 | 137,453 | ||||||
4.375% 1/15/28 | 168,000 | 145,530 | ||||||
CVR Energy, Inc. 5.750% 2/15/28 (d) |
1,323,000 | 1,124,550 | ||||||
Endeavor Energy Resources
LP / EER Finance, Inc. 6.625% 7/15/25 (d) |
295,000 | 303,112 | ||||||
Hilcorp Energy I LP
/ Hilcorp Finance Co. 5.000% 12/01/24 (d) |
79,000 | 71,693 | ||||||
5.750% 10/01/25 (d) | 43,000 | 38,915 | ||||||
6.250% 11/01/28 (d) | 365,000 | 332,150 | ||||||
Jonah Energy LLC/Jonah
Energy Finance Corp. 7.250% 10/15/25 (d) |
745,000 | 82,881 | ||||||
Jupiter Resources,
Inc 10.000% 1/31/24 (a) (f) |
231,906 | 225,280 | ||||||
Laredo Petroleum, Inc. 9.500% 1/15/25 |
268,000 | 159,707 | ||||||
10.125% 1/15/28 | 330,000 | 194,700 | ||||||
MEG Energy Corp. 7.125% 2/01/27 (d) |
379,000 | 339,899 | ||||||
Nabors Industries Ltd. 7.250% 1/15/26 (d) |
184,000 | 90,620 | ||||||
7.500% 1/15/28 (d) | 119,000 | 57,269 | ||||||
Neptune Energy Bondco
PLC 6.625% 5/15/25 (d) |
594,000 | 529,800 | ||||||
Occidental Petroleum
Corp. 2.700% 8/15/22 |
163,000 | 152,302 | ||||||
2.700% 2/15/23 | 65,000 | 59,475 | ||||||
2.900% 8/15/24 | 93,000 | 78,904 | ||||||
3.500% 6/15/25 | 190,000 | 157,700 | ||||||
4.200% 3/15/48 | 31,000 | 21,313 | ||||||
4.400% 4/15/46 | 198,000 | 140,622 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
4.400% 8/15/49 | $ | 78,000 | $ | 54,608 | ||||
4.500% 7/15/44 | 81,000 | 57,966 | ||||||
5.875% 9/01/25 | 178,000 | 163,130 | ||||||
6.200% 3/15/40 | 550,000 | 455,730 | ||||||
6.375% 9/01/28 | 182,000 | 168,477 | ||||||
6.450% 9/15/36 | 215,000 | 183,287 | ||||||
6.600% 3/15/46 | 352,000 | 303,160 | ||||||
6.950% 7/01/24 | 88,000 | 85,166 | ||||||
Ovintiv, Inc. 6.500% 8/15/34 |
108,000 | 100,572 | ||||||
6.500% 2/01/38 | 47,000 | 42,682 | ||||||
7.200% 11/01/31 | 29,000 | 28,728 | ||||||
7.375% 11/01/31 | 17,000 | 16,972 | ||||||
Parkland Corp. 5.875% 7/15/27 (d) |
247,000 | 259,659 | ||||||
PBF Holding Co. LLC
/ PBF Finance Corp. 6.000% 2/15/28 (d) |
1,474,000 | 989,128 | ||||||
9.250% 5/15/25 (d) | 82,000 | 84,052 | ||||||
8,650,231 | ||||||||
Oil & Gas Services — 0.5% | ||||||||
Welltec A/S 9.500% 12/01/22 (d) |
696,000 | 612,480 | ||||||
Packaging & Containers — 1.1% | ||||||||
Graphic Packaging International
LLC 3.500% 3/15/28 (d) |
194,000 | 193,515 | ||||||
Mauser Packaging Solutions
Holding Co. 7.250% 4/15/25 (d) |
781,000 | 735,116 | ||||||
Trident TPI Holdings,
Inc. 9.250% 8/01/24 (d) |
386,000 | 409,759 | ||||||
1,338,390 | ||||||||
Pharmaceuticals — 2.2% | ||||||||
Bausch Health Americas,
Inc. 8.500% 1/31/27 (d) |
250,000 | 274,688 | ||||||
9.250% 4/01/26 (d) | 600,000 | 660,000 | ||||||
Bausch Health Cos.,
Inc. 5.000% 1/30/28 (d) |
446,000 | 433,177 | ||||||
5.250% 1/30/30 (d) | 320,000 | 315,200 | ||||||
5.500% 3/01/23 (d) | 140,000 | 139,475 | ||||||
5.875% 5/15/23 (d) | 5,000 | 4,975 | ||||||
6.125% 4/15/25 (d) | 75,000 | 76,781 | ||||||
Par Pharmaceutical,
Inc. 7.500% 4/01/27 (d) |
629,000 | 658,991 | ||||||
2,563,287 | ||||||||
Pipelines — 3.9% | ||||||||
Buckeye Partners LP
5.850% 11/15/43 |
66,000 | 61,139 | ||||||
Cheniere Energy Partners
LP 4.500% 10/01/29 |
271,000 | 277,984 | ||||||
5.625% 10/01/26 | 725,000 | 754,000 | ||||||
DCP Midstream Operating
LP 5.625% 7/15/27 |
216,000 | 220,968 | ||||||
6.450% 11/03/36 (d) | 10,000 | 9,583 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
EnLink Midstream LLC
5.375% 6/01/29 |
$ | 173,000 | $ | 140,130 | ||||
EnLink Midstream Partners
LP 4.850% 7/15/26 |
56,000 | 48,446 | ||||||
EQM Midstream Partners
LP 6.000% 7/01/25 (d) |
182,000 | 187,688 | ||||||
6.500% 7/01/27 (d) | 151,000 | 160,063 | ||||||
Genesis Energy LP/Genesis
Energy Finance Corp. 6.000% 5/15/23 |
765,000 | 694,237 | ||||||
6.500% 10/01/25 | 440,000 | 380,600 | ||||||
Harvest Midstream I
LP 7.500% 9/01/28 (d) |
228,000 | 226,860 | ||||||
PBF Logistics LP /
PBF Logistics Finance Corp. 6.875% 5/15/23 |
400,000 | 376,000 | ||||||
Targa Resources Partners
LP/Targa Resources Partners Finance Corp. 4.875% 2/01/31 (d) |
295,000 | 285,685 | ||||||
5.000% 1/15/28 | 33,000 | 32,175 | ||||||
5.500% 3/01/30 (d) | 28,000 | 28,029 | ||||||
6.875% 1/15/29 | 61,000 | 65,252 | ||||||
Western Midstream Operating
LP 5.050% STEP 2/01/30 |
145,000 | 141,123 | ||||||
5.300% 3/01/48 | 399,000 | 321,195 | ||||||
5.450% 4/01/44 | 202,000 | 172,710 | ||||||
4,583,867 | ||||||||
Real Estate Investment Trusts (REITS) — 2.7% | ||||||||
ESH Hospitality, Inc. 4.625% 10/01/27 (d) |
388,000 | 380,733 | ||||||
Iron Mountain, Inc. 5.250% 7/15/30 (d) |
303,000 | 315,877 | ||||||
MPT Operating Partnership
LP/MPT Finance Corp. 5.000% 10/15/27 |
539,000 | 562,015 | ||||||
Park Intermediate Holdings
LLC / PK Domestic Property LLC / PK Finance Co-Issuer 5.875% 10/01/28 (d) |
108,000 | 107,730 | ||||||
RHP Hotel Properties
LP/RHP Finance Corp. 4.750% 10/15/27 |
425,000 | 391,816 | ||||||
5.000% 4/15/23 | 789,000 | 772,644 | ||||||
Service Properties
Trust 3.950% 1/15/28 |
73,000 | 60,590 | ||||||
4.375% 2/15/30 | 115,000 | 95,450 | ||||||
4.950% 2/15/27 | 58,000 | 51,620 | ||||||
7.500% 9/15/25 | 467,000 | 496,281 | ||||||
3,234,756 | ||||||||
Retail — 1.6% | ||||||||
Asbury Automotive Group,
Inc. 4.500% 3/01/28 (d) |
152,000 | 152,950 | ||||||
Penske Automotive Group,
Inc. 3.500% 9/01/25 |
500,000 | 497,962 | ||||||
5.500% 5/15/26 | 1,000,000 | 1,031,580 | ||||||
Specialty Building
Products Holdings LLC / SBP Finance Corp. 6.375% 9/30/26 (d) |
193,000 | 196,378 | ||||||
1,878,870 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Software — 3.8% | ||||||||
BY Crown Parent LLC
7.375% 10/15/24 (d) |
$ | 191,000 | $ | 193,865 | ||||
CDK Global, Inc. 5.250% 5/15/29 (d) |
66,000 | 70,290 | ||||||
Open Text Corp. 3.875% 2/15/28 (d) |
302,000 | 305,491 | ||||||
Open Text Holdings,
Inc. 4.125% 2/15/30 (d) |
131,000 | 134,726 | ||||||
Solera LLC/ Solera
Finance, Inc. 10.500% 3/01/24 (d) |
465,000 | 485,925 | ||||||
SS&C Technologies,
Inc. 5.500% 9/30/27 (d) |
720,000 | 765,158 | ||||||
Veritas US, Inc./Veritas
Bermuda Ltd. 7.500% 9/01/25 (d) |
700,000 | 721,875 | ||||||
10.500% 2/01/24 (d) | 2,020,000 | 1,899,608 | ||||||
4,576,938 | ||||||||
Storage & Warehousing — 0.9% | ||||||||
LBC Tank Terminals
Holding Netherlands BV 6.875% 5/15/23 (d) |
1,111,000 | 1,102,667 | ||||||
Telecommunications — 5.5% | ||||||||
Avaya, Inc. 6.125% 9/15/28 (d) |
260,000 | 265,096 | ||||||
CenturyLink, Inc. 5.125% 12/15/26 (d) |
526,000 | 540,407 | ||||||
CommScope Technologies
Finance LLC 6.000% 6/15/25 (d) |
211,000 | 213,859 | ||||||
CommScope Technologies
LLC 5.000% 3/15/27 (d) |
174,000 | 167,040 | ||||||
CommScope, Inc. 7.125% 7/01/28 (d) |
200,000 | 205,500 | ||||||
8.250% 3/01/27 (d) | 270,000 | 280,800 | ||||||
Consolidated Communications,
Inc. 6.500% 10/01/28 (d) (e) |
391,000 | 398,820 | ||||||
Hughes Satellite Systems
Corp. 6.625% 8/01/26 |
687,000 | 743,471 | ||||||
Sprint Capital Corp. 8.750% 3/15/32 |
126,000 | 184,440 | ||||||
Sprint Corp. 7.625% 3/01/26 |
386,000 | 466,437 | ||||||
7.875% 9/15/23 | 1,386,000 | 1,592,168 | ||||||
Telecom Italia Capital
6.000% 9/30/34 |
150,000 | 174,000 | ||||||
Telecom Italia SpA 5.303% 5/30/24 (d) |
586,000 | 634,345 | ||||||
ViaSat, Inc. 5.625% 4/15/27 (d) |
197,000 | 202,664 | ||||||
6.500% 7/15/28 (d) | 387,000 | 387,561 | ||||||
Windstream Escrow LLC
/ Windstream Escrow Finance Corp. 7.750% 8/15/28 (d) |
116,000 | 113,970 | ||||||
6,570,578 | ||||||||
Toys, Games & Hobbies — 0.5% | ||||||||
Mattel, Inc. 6.750% 12/31/25 (d) |
305,000 | 321,775 |
MML High Yield Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
5.875% 12/15/27 (d) | $ | 224,000 | $ | 241,080 | ||||
562,855 | ||||||||
Transportation — 3.8% | ||||||||
Kenan Advantage Group,
Inc. 7.875% 7/31/23 (d) |
3,200,000 | 3,104,000 | ||||||
Mileage Plus Holdings
LLC / Mileage Plus Intellectual Property Assets Ltd. 6.500% 6/20/27 (d) |
265,000 | 275,931 | ||||||
XPO Logistics, Inc. 6.250% 5/01/25 (d) |
350,000 | 374,016 | ||||||
6.750% 8/15/24 (d) | 716,000 | 758,387 | ||||||
4,512,334 | ||||||||
TOTAL
CORPORATE DEBT (Cost $113,424,709) |
111,255,585 | |||||||
TOTAL
BONDS & NOTES (Cost $118,869,591) |
116,328,016 |
Number of Shares |
||||||||
Warrants — 0.0% | ||||||||
Basic Materials — 0.0% | ||||||||
Forest Products & Paper — 0.0% | ||||||||
Appvion Holding Corp. Tranche A, Expires 6/13/23, Strike price 31.25 (a) (b) (f) | 2,106 | — | ||||||
Appvion Holding Corp. Tranche B, Expires 6/13/23, Strike price 31.25 (a) (b) (f) | 2,106 | — | ||||||
— | ||||||||
TOTAL WARRANTS (Cost $0) |
— | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $120,188,007) |
116,471,883 | |||||||
TOTAL INVESTMENTS — 97.9% (Cost $120,188,007) (g) |
116,471,883 | |||||||
Other Assets/(Liabilities) — 2.1% | 2,521,173 | |||||||
NET ASSETS — 100.0% | $ | 118,993,056 |
Abbreviation Legend
STEP | Step Up Bond |
VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2020, these securities amounted to a value of $225,280 or 0.19% of net assets. |
(b) | Non-income producing security. |
(c) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At September 30, 2020, these securities amounted to a value of $14,233 or 0.01% of net assets. |
(d) | 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 September 30, 2020, the aggregate market value of these securities amounted to $73,874,228 or 62.08% of net assets. |
(e) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(f) | Investment was valued using significant unobservable inputs. |
(g) | See Note 3 for aggregate cost for federal tax purposes. |
MML Inflation-Protected and Income Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Principal Amount | Value | |||||||
Bonds & Notes — 89.0% | ||||||||
Municipal Obligations — 0.0% | ||||||||
Louisiana State Public Facilities Authority, Revenue Bonds, Series 2011-A, Class A2, 3 mo. USD LIBOR | ||||||||
1.168% FRN 4/26/27 | $ | 24,791 | $ | 24,811 | ||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $24,791) | 24,811 | |||||||
Non-U.S. Government Agency Obligations — 62.4% | ||||||||
Auto Floor Plan Asset-Backed Securities — 3.6% | ||||||||
Navistar Financial Dealer Note Master Owner Trust II | ||||||||
Series 2019-1, Class A, 1 mo. USD LIBOR + .640% 0.788% FRN 5/25/24 (a) | 5,700,000 | 5,693,922 | ||||||
Series 2019-1, Class B, 1 mo. USD LIBOR + .750% 0.898% FRN 5/25/24 (a) | 3,000,000 | 2,993,032 | ||||||
Series 2019-1, Class C, 1 mo. USD LIBOR + .950% 1.098% FRN 5/25/24 (a) | 1,300,000 | 1,293,231 | ||||||
NextGear Floorplan Master Owner Trust, Series 2017-2A, Class A1, 1 mo. USD LIBOR + .680% | ||||||||
0.832% FRN 10/17/22 (a) | 2,000,000 | 2,000,200 | ||||||
11,980,385 | ||||||||
Automobile Asset-Backed Securities — 12.5% | ||||||||
American Credit Acceptance Receivables Trust | ||||||||
Series 2019-1, Class C, 3.500% 4/14/25 (a) | 1,300,000 | 1,328,946 | ||||||
Series 2018-3, Class C, 3.750% 10/15/24 (a) | 2,741,364 | 2,764,000 | ||||||
AmeriCredit Automobile Receivables Trust, Series 2020-2, Class A2A | ||||||||
0.600% 12/18/23 | 3,444,000 | 3,450,197 | ||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C | ||||||||
4.530% 3/20/23 (a) | 388,000 | 392,901 | ||||||
CarMax Auto Owner Trust, Series 2017-2, Class D | ||||||||
3.390% 10/16/23 | 2,400,000 | 2,443,497 | ||||||
Chesapeake Funding II LLC, Series 2018-1A, Class A2, 1 mo. USD LIBOR + .450% | ||||||||
0.602% FRN 4/15/30 (a) | 439,174 | 439,586 | ||||||
CPS Auto Trust, Series 2018-C, Class B | ||||||||
3.430% 7/15/22 (a) | 25,894 | 25,914 | ||||||
Drive Auto Receivables Trust, Series 2019-1, Class C | ||||||||
3.780% 4/15/25 | 963,000 | 991,099 | ||||||
Exeter Automobile Receivables Trust | ||||||||
Series 2020-2A, Class A, 1.130% 8/15/23 (a) | 661,366 | 663,271 | ||||||
Series 2019-3A, Class A, 2.590% 9/15/22 (a) | 128,520 | 128,677 | ||||||
Series 2019-1A, Class B, 3.450% 2/15/23 (a) | 227,452 | 228,020 | ||||||
Flagship Credit Auto Trust | ||||||||
Series 2016-4, Class C, 2.710% 11/15/22 (a) | 247,588 | 248,633 | ||||||
Series 2018-2, Class A, 2.970% 10/17/22 (a) | 340,201 | 341,444 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Hertz Fleet Lease Funding LP, Series 2018-1, Class A1, 1 mo. USD LIBOR + .500% | ||||||||
0.656% FRN 5/10/32 (a) | $ | 1,196,340 | $ | 1,196,459 | ||||
Hertz Vehicle Financing II LP | ||||||||
Series 2017-1A, Class B, 3.560% 10/25/21 (a) | 2,530,000 | 2,508,827 | ||||||
Series 2019-2A, Class C, 4.260% 5/25/25 (a) | 2,525,000 | 2,442,035 | ||||||
OneMain Direct Auto Receivables Trust | ||||||||
Series 2017-2A, Class C, 2.820% 7/15/24 (a) | 6,459,490 | 6,464,132 | ||||||
Series 2018-1A, Class A, 3.430% 12/16/24 (a) | 502,338 | 508,957 | ||||||
Series 2017-2A, Class E, 4.740% 11/14/25 (a) | 968,000 | 968,092 | ||||||
OSCAR US Funding XI LLC, Series 2019-2A, Class A2 | ||||||||
2.490% 8/10/22 (a) | 678,440 | 683,025 | ||||||
Santander Drive Auto Receivables Trust, Series 2020-2, Class A2A | ||||||||
0.620% 5/15/23 | 4,674,000 | 4,679,850 | ||||||
Tesla Auto Lease Trust, Series 2018-B, Class A | ||||||||
3.710% 8/20/21 (a) | 4,809,751 | 4,854,736 | ||||||
World Omni Auto Receivables Trust, Series 2019-C, Class A2B, 1 mo. USD LIBOR + .230% | ||||||||
0.382% FRN 2/15/23 | 4,403,494 | 4,406,131 | ||||||
42,158,429 | ||||||||
Commercial Mortgage-Backed Securities — 2.6% | ||||||||
BHMS Mortgage Trust, Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% | ||||||||
1.652% FRN 7/15/35 (a) | 1,700,000 | 1,576,794 | ||||||
BX Commercial Mortgage Trust | ||||||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.752% FRN 12/15/36 (a) | 1,298,811 | 1,283,474 | ||||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.852% FRN 11/15/35 (a) | 1,582,000 | 1,569,255 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.152% FRN 10/15/36 (a) | 1,661,271 | 1,641,658 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750% | ||||||||
1.902% FRN 12/15/37 (a) | 308,865 | 302,014 | ||||||
DBJPM 17-C6 Mortgage Trust, Series 2017-C6, Class A1 | ||||||||
1.907% 6/10/50 | 525,324 | 529,512 | ||||||
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2018-LAQ, Class A, 1 mo. USD LIBOR + 1.000% | ||||||||
1.152% FRN 6/15/32 (a) | 1,364,866 | 1,303,473 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.952% FRN 5/15/36 (a) | 476,000 | 470,796 | ||||||
8,676,976 | ||||||||
Credit Card Asset-Backed Securities — 0.3% | ||||||||
Citibank Credit Card Issuance Trust, Series 2017-A6, Class A6, 1 mo. LIBOR + .770% | ||||||||
0.921% FRN 5/14/29 | 1,100,000 | 1,097,852 | ||||||
Home Equity Asset-Backed Securities — 0.1% | ||||||||
Asset Backed Securities Corp. Home Equity Loan Trust, Series 2006-HE3, Class A4, 1 mo. USD LIBOR + .170% | ||||||||
0.318% FRN 3/25/36 | 181,549 | 180,441 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Other Asset-Backed Securities — 20.1% | ||||||||
321 Henderson Receivables I LLC, Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% | ||||||||
0.352% FRN 3/15/41 (a) | $ | 216,155 | $ | 212,654 | ||||
Series 2006-2A, Class A1, 1 mo. USD LIBOR + .200% | ||||||||
0.352% FRN 6/15/41 (a) | 1,014,003 | 980,587 | ||||||
321 Henderson Receivables LLC | ||||||||
Series 2006-3A, Class A1, 1 mo. USD LIBOR + .200% 0.352% FRN 9/15/41 (a) | 117,161 | 114,942 | ||||||
Series 2006-4A, Class A1, 1 mo. USD LIBOR + .200% 0.352% FRN 12/15/41 (a) | 130,157 | 128,649 | ||||||
Series 2007-1A, Class A1, 1 mo. USD LIBOR + .200% 0.352% FRN 3/15/42 (a) | 542,194 | 523,572 | ||||||
AASET Trust | ||||||||
Series 2017-1A, Class A, 3.967% 5/16/42 (a) | 159,224 | 143,949 | ||||||
Series 2018-2A, Class A, 4.454% 11/18/38 (a) | 1,591,266 | 1,479,985 | ||||||
Affirm Asset Securitization Trust, Series 2020-Z1, Class A | ||||||||
3.460% 10/15/24 (a) | 2,884,761 | 2,903,743 | ||||||
AIMCO CLO, Series 2015-AA, Class AR, 3 mo. USD LIBOR + .850% | ||||||||
1.125% FRN 1/15/28 (a) | 2,328,639 | 2,314,005 | ||||||
Arbor Realty Commercial Real Estate Notes, Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.150% | ||||||||
1.302% FRN 6/15/28 (a) | 780,000 | 770,274 | ||||||
Avant Loans Funding Trust | ||||||||
Series 2019-B, Class A, 2.720% 10/15/26 (a) | 848,091 | 851,282 | ||||||
Series 2019-A, Class A, 3.480% 7/15/22 (a) | 49,664 | 49,680 | ||||||
Avery Point IV CLO Ltd., Series 2014-1A, Class AR, 3 mo. USD LIBOR + 1.100% | ||||||||
1.345% FRN 4/25/26 (a) | 481,146 | 480,772 | ||||||
BCC Funding XIV LLC, Series 2018-1A, Class A2 | ||||||||
2.960% 6/20/23 (a) | 116,391 | 116,516 | ||||||
Carlyle Global Market Strategies CLO Ltd., Series 2013-2A, Class AR, 3 mo. USD LIBOR + .890% | ||||||||
1.162% FRN 1/18/29 (a) | 1,997,380 | 1,972,986 | ||||||
CCG Receivables Trust, Series 2018-2, Class A2 | ||||||||
3.090% 12/15/25 (a) | 367,942 | 368,694 | ||||||
Elara HGV Timeshare Issuer LLC, Series 2014-A, Class B, | ||||||||
3.020% VRN 2/25/27 (a) (b) | 107,407 | 107,252 | ||||||
FCI Funding LLC, Series 2019-1A, Class A | ||||||||
3.630% 2/18/31 (a) | 192,341 | 195,701 | ||||||
First Franklin Mortgage Loan Trust, Series 2005-FF9, Class A4, 1 mo. USD LIBOR + .360% | ||||||||
0.508% FRN 10/25/35 | 1,236,863 | 1,212,743 | ||||||
KREF Ltd. | ||||||||
Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.100% 1.251% FRN 6/15/36 (a) | 3,980,000 | 3,951,898 | ||||||
Series 2018-FL1, Class AS, 1 mo. USD LIBOR + 1.350% 1.501% FRN 6/15/36 (a) | 2,000,000 | 1,981,436 | ||||||
Series 2018-FL1, Class D, 1 mo. USD LIBOR + 2.550% 2.701% FRN 6/15/36 (a) | 2,450,000 | 2,353,717 | ||||||
LCM Ltd., Series 19A, Class AR, 3 mo. USD LIBOR + 1.240% | ||||||||
1.515% FRN 7/15/27 (a) | 1,300,000 | 1,296,173 | ||||||
Lendmark Funding Trust, Series 2018-1A, Class A | ||||||||
3.810% 12/21/26 (a) | 630,000 | 641,818 | ||||||
Marlette Funding Trust | ||||||||
Series 2019-4A, Class A, 2.390% 12/17/29 (a) | 3,683,974 | 3,718,255 | ||||||
Series 2019-3A, Class A, 2.690% 9/17/29 (a) | 2,321,822 | 2,342,104 | ||||||
Series 2019-2A, Class A, 3.130% 7/16/29 (a) | 3,483,712 | 3,520,932 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2019-1A, Class A, 3.440% 4/16/29 (a) | $ | 5,139,459 | $ | 5,191,512 | ||||
Series 2019-2A, Class B, 3.530% 7/16/29 (a) | 385,000 | 392,547 | ||||||
Series 2018-1A, Class C, 3.690% 3/15/28 (a) | 3,010,145 | 3,019,986 | ||||||
Series 2018-3A, Class B, 3.860% 9/15/28 (a) | 3,204,834 | 3,225,626 | ||||||
MVW Owner Trust, Series 2017-1A, Class A | ||||||||
2.420% 12/20/34 (a) | 73,734 | 75,174 | ||||||
Neuberger Berman CLO XX Ltd., Series 2015-20A, Class AR, 3 mo. USD LIBOR + .800% | ||||||||
1.075% FRN 1/15/28 (a) | 2,320,782 | 2,303,497 | ||||||
NP SPE II LLC, Series 2019-1A, Class A1 | ||||||||
2.574% 9/20/49 (a) | 345,659 | 343,255 | ||||||
OCP CLO Ltd., Series 2015-10A, Class A1R, 3 mo. USD LIBOR + .820% | ||||||||
1.065% FRN 10/26/27 (a) | 1,660,390 | 1,649,619 | ||||||
Orange Lake Timeshare Trust, Series 2016-A, Class A | ||||||||
2.610% 3/08/29 (a) | 174,645 | 175,004 | ||||||
Oxford Finance Funding Trust, Series 2016-1A, Class A | ||||||||
3.968% 6/17/24 (a) | 61,089 | 61,113 | ||||||
PFS Financing Corp. | ||||||||
Series 2019-B, Class A, 1 mo. USD LIBOR + .550% 0.702% FRN 9/15/23 (a) | 400,000 | 400,256 | ||||||
Series 2019-B, Class B, 1 mo. USD LIBOR + .800% 0.952% FRN 9/15/23 (a) | 900,000 | 896,650 | ||||||
Planet Fitness Master Issuer LLC, Series 2018-1A, Class A2I | ||||||||
4.262% 9/05/48 (a) | 2,352,000 | 2,351,050 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | ||||||||
2.998% FRN 2/25/23 (a) | 440,000 | 429,446 | ||||||
Saxon Asset Securities Trust, Series 2006-2, Class A3C, 1 mo. USD LIBOR + .150% | ||||||||
0.298% FRN 9/25/36 | 1,303,420 | 1,290,675 | ||||||
SCF Equipment Leasing LLC, Series 2020-1A, Class A2 | ||||||||
0.680% 10/20/25 (a) | 1,579,000 | 1,581,913 | ||||||
Sierra Receivables Funding LLC | ||||||||
Series 2019-3A, Class C, 3.000% 8/20/36 (a) | 2,261,656 | 2,229,222 | ||||||
Series 2015-3A, Class B, 3.080% 9/20/32 (a) | 20,298 | 20,279 | ||||||
Series 2019-1A, Class C, 3.770% 1/20/36 (a) | 494,619 | 496,623 | ||||||
Series 2019-3A, Class D, 4.180% 8/20/36 (a) | 579,111 | 544,781 | ||||||
Series 2019-1A, Class D, 4.750% 1/20/36 (a) | 447,513 | 432,047 | ||||||
SoFi Consumer Loan Program Trust | ||||||||
Series 2017-4, Class A, 2.500% 5/26/26 (a) | 240,815 | 242,469 | ||||||
Series 2017-6, Class A2, 2.820% 11/25/26 (a) | 266,018 | 268,037 | ||||||
Series 2016-1A, Class A, 3.260% 8/25/25 (a) | 241,619 | 243,506 | ||||||
Series 2017-2, Class A, 3.280% 2/25/26 (a) | 56,084 | 56,057 | ||||||
SoFi Consumer Loan Program LLC, Series 2016-2A, Class B, | ||||||||
4.770% VRN 10/27/25 (a) (b) | 1,924,674 | 1,936,085 | ||||||
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + .800% | ||||||||
0.948% FRN 11/25/35 (a) | 1,165,614 | 1,110,339 | ||||||
TLF National Tax Lien Trust, Series 2017-1A, Class A | ||||||||
3.090% 12/15/29 (a) | 438,755 | 441,648 | ||||||
Trip Rail Master Funding LLC, Series 2017-1A, Class A1 | ||||||||
2.709% 8/15/47 (a) | 88,430 | 88,509 | ||||||
Verizon Owner Trust., Series 2018-1A, Class A1A | ||||||||
2.820% 9/20/22 (a) | 822,587 | 828,564 | ||||||
Westgate Resorts LLC | ||||||||
Series 2017-1A, Class A, 3.050% 12/20/30 (a) | 235,027 | 234,313 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2018-1A, Class A, 3.380% 12/20/31 (a) | $ | 350,008 | $ | 347,708 | ||||
67,641,829 | ||||||||
Student Loans Asset-Backed Securities — 14.1% | ||||||||
Brazos Higher Education Authority, Inc. | ||||||||
Series 2006-2, Class A10, 3 mo. USD LIBOR + .120% 0.345% FRN 6/25/26 | 947,470 | 935,195 | ||||||
Revenue Bonds, Series 2006-2, Class B2, 1.656% 6/25/42 | 1,200,000 | 1,143,768 | ||||||
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100% | ||||||||
0.333% FRN 6/28/39 | 3,247,090 | 3,087,020 | ||||||
College Loan Corp. Trust I, Series 2005-2, Class B, 3 mo. USD LIBOR + .490% | ||||||||
0.765% FRN 1/15/37 | 414,274 | 372,107 | ||||||
Commonbond Student Loan Trust, Series 2018-CGS, Class C | ||||||||
4.350% 2/25/46 (a) | 39,027 | 39,288 | ||||||
DRB Prime Student Loan Trust | ||||||||
Series 2016-R, Class A1, 1 mo. USD LIBOR + 1.900% 2.048% FRN 10/25/44 (a) | 781,663 | 783,565 | ||||||
Series 2016-A, Class A1, 1 mo. USD LIBOR + 2.000% 2.148% FRN 4/25/40 (a) | 173,115 | 171,273 | ||||||
Earnest Student Loan Program LLC, Series 2016-B, Class A1, 1 mo. USD LIBOR + 2.050% | ||||||||
2.198% FRN 2/26/35 (a) | 133,993 | 126,401 | ||||||
ECMC Group Student Loan Trust | ||||||||
Series 2017-1A, Class A, 1 mo. USD LIBOR + 1.200% 1.348% FRN 12/27/66 (a) | 1,323,486 | 1,316,159 | ||||||
Series 2016-1A, Class A, 1 mo. USD LIBOR + 1.350% 1.498% FRN 7/26/66 (a) | 891,154 | 899,896 | ||||||
EdLinc Student Loan Funding Trust, Series 2017-A, Class A, PRIME - 1.150% | ||||||||
3.600% FRN 12/01/47 (a) | 629,548 | 622,110 | ||||||
Edsouth Indenture | ||||||||
No.9 LLC, Series 2015-1, Class A, 1 mo. USD LIBOR + .800% 0.948% FRN 10/25/56 (a) | 356,321 | 347,183 | ||||||
No.10 LLC, Series 2015-2, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 12/25/58 (a) | 1,000,000 | 983,922 | ||||||
ELFI Graduate Loan Program LLC, Series 2018-A, Class A1, 1 mo. USD LIBOR + .750% | ||||||||
0.898% FRN 8/25/42 (a) | 406,341 | 403,337 | ||||||
Goal Capital Funding Trust, Series 2010-1, Class A, 3 mo. USD LIBOR + .700% | ||||||||
0.950% FRN 8/25/48 (a) | 247,778 | 243,161 | ||||||
JP Morgan Student Loan Trust, Series 2007-A, Class B, 3 mo. USD LIBOR + .350% | ||||||||
0.597% FRN 6/28/39 (a) | 464,342 | 416,318 | ||||||
KeyCorp Student Loan Trust | ||||||||
Series 2000-A, Class A2, 3 mo. USD LIBOR + .320% 0.570% FRN 5/25/29 | 34,487 | 33,975 | ||||||
Series 2005-A, Class 2B, 3 mo. USD LIBOR + .730% 0.963% FRN 9/27/38 | 1,600,367 | 1,578,384 | ||||||
Laurel Road Prime Student Loan Trust, Series 2019-A, Class A1FX | ||||||||
2.340% 10/25/48 (a) | 556,347 | 544,941 | ||||||
Navient Student Loan Trust | ||||||||
Series 2017-3A, Class A2, 1 mo. USD LIBOR + .600% 0.748% FRN 7/26/66 (a) | 758,627 | 755,247 | ||||||
Series 2018-1A, Class A3, 1 mo. USD LIBOR + .720% 0.868% FRN 3/25/67 (a) | 1,120,000 | 1,109,251 | ||||||
Series 2016-3A, Class A2, 1 mo. USD LIBOR + .850% 0.998% FRN 6/25/65 (a) | 58,643 | 58,591 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2019-2A, Class A2, 1 mo. USD LIBOR + 1.000% 1.148% FRN 2/27/68 (a) | $ | 3,387,000 | $ | 3,390,324 | ||||
Series 2017-1A, Class A3, 1 mo. USD LIBOR + 1.150% 1.298% FRN 7/26/66 (a) | 410,000 | 410,000 | ||||||
Series 2015-AA, Class A2B, 1 mo. USD LIBOR + 1.200% 1.352% FRN 12/15/28 (a) | 334,696 | 335,356 | ||||||
Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250% 1.398% FRN 6/25/65 (a) | 1,971,604 | 1,971,603 | ||||||
Series 2016-6A, Class A3, 1 mo. USD LIBOR + 1.300% 1.448% FRN 3/25/66 (a) | 2,200,000 | 2,219,235 | ||||||
Series 2019-3A, Class B, 1 mo. USD LIBOR + 1.550% 1.698% FRN 7/25/68 (a) | 2,900,000 | 2,554,351 | ||||||
Nelnet Private Education Loan Trust, Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750% | ||||||||
1.898% FRN 12/26/40 (a) | 247,858 | 236,752 | ||||||
Nelnet Student Loan Trust | ||||||||
Series 2005-2, Class B, 3 mo. USD LIBOR + .170% 0.395% FRN 3/23/37 | 854,830 | 729,007 | ||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .200% 0.445% FRN 1/25/38 | 643,394 | 549,271 | ||||||
Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.475% FRN 6/25/41 | 303,665 | 262,711 | ||||||
Series 2004-3, Class B, 3 mo. USD LIBOR + .350% 0.595% FRN 10/25/40 | 1,028,313 | 967,833 | ||||||
Series 2014-2A, Class B, 1 mo. USD LIBOR + 1.500% 1.675% FRN 6/25/41 (a) | 375,000 | 355,049 | ||||||
SLC Student Loan Trust | ||||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .230% 0.480% FRN 12/15/39 | 1,140,814 | 990,660 | ||||||
Series 2005-2, Class B, 3 mo. USD LIBOR + .280% 0.530% FRN 3/15/40 | 1,721,727 | 1,505,618 | ||||||
SLM Private Credit Student Loan Trust, Series 2004-B, Class B, 3 mo. USD LIBOR + .470% | ||||||||
0.720% FRN 9/15/33 | 464,578 | 463,575 | ||||||
SLM Student Loan Trust | ||||||||
Series 2005-5, Class A4, 3 mo. USD LIBOR + .140% 0.385% FRN 10/25/28 | 335,074 | 332,055 | ||||||
Series 2006-4, Class B, 3 mo. USD LIBOR + .200% 0.445% FRN 1/25/70 | 338,641 | 302,190 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.455% FRN 10/25/40 | 360,234 | 322,064 | ||||||
Series 2006-2, Class B, 3 mo. USD LIBOR + .220% 0.465% FRN 1/25/41 | 397,070 | 355,065 | ||||||
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 0.545% FRN 7/25/25 | 233,572 | 228,226 | ||||||
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.555% FRN 1/25/55 | 358,713 | 318,908 | ||||||
Series 2004-8, Class B, 3 mo. USD LIBOR + .460% 0.705% FRN 1/25/40 | 396,506 | 357,528 | ||||||
Series 2004-3, Class B, 3 mo. USD LIBOR + .470% 0.715% FRN 10/25/64 | 275,194 | 244,410 | ||||||
Series 2003-14, Class A7, 3 mo. USD LIBOR + .600% 0.845% FRN 10/25/65 (a) | 2,100,000 | 2,051,448 | ||||||
Series 2003-11, Class B, 3 mo. USD LIBOR + .650% 0.900% FRN 12/15/38 | 401,945 | 369,211 | ||||||
SMB Private Education Loan Trust | ||||||||
Series 2019-A, Class A1, 1 mo. USD LIBOR + .350% 0.502% FRN 2/16/26 (a) | 212,255 | 209,882 | ||||||
Series 2019-B, Class A1, 1 mo. USD LIBOR + .350% 0.502% FRN 7/15/26 (a) | 153,909 | 153,793 | ||||||
Series 2018-B, Class A2B, 1 mo. USD LIBOR + .720% 0.872% FRN 1/15/37 (a) | 1,302,832 | 1,289,033 | ||||||
Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870% 1.022% FRN 7/15/36 (a) | 1,639,000 | 1,618,321 | ||||||
Series 2014-A, Class A2B, 1 mo. USD LIBOR + 1.150% 1.302% FRN 5/15/26 (a) | 663,018 | 664,483 | ||||||
Series 2014-A, Class A2A, 3.050% 5/15/26 (a) | 148,811 | 150,353 | ||||||
SoFi Alternative Trust, Series 2019-C, Class PT, | ||||||||
4.861% VRN 1/25/45 (a) (b) | 1,610,413 | 1,731,194 | ||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2017-A, Class A1, 1 mo. USD LIBOR + .700% 0.848% FRN 3/26/40 (a) | 220,297 | 220,059 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2016-A, Class A1, 1 mo. USD LIBOR + 1.750% 1.898% FRN 8/25/36 (a) | $ | 206,180 | $ | 207,656 | ||||
Series 2019-C, Class A1FX, 2.130% 11/16/48 (a) | 1,061,511 | 1,068,806 | ||||||
Series 2016-B, Class A2B, 2.740% 10/25/32 (a) | 2,191,320 | 2,226,559 | ||||||
47,333,681 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 9.1% | ||||||||
Angel Oak Mortgage Trust, Series 2018-3, Class A3, | ||||||||
3.238% VRN 5/25/59 (a) (b) | 1,153,744 | 1,165,630 | ||||||
Banc of America Funding, Series 2006-G, Class 2A1, 1 mo. USD LIBOR + .440% | ||||||||
0.596% FRN 7/20/36 | 1,169,119 | 1,159,385 | ||||||
BRAVO Residential Funding Trust, Series 2019-NQM1, Class A1, | ||||||||
2.666% VRN 7/25/59 (a) (b) | 6,626,095 | 6,726,920 | ||||||
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000% | ||||||||
1.125% FRN 8/25/49 (a) | 3,255,113 | 3,254,985 | ||||||
Citigroup Mortgage Loan Trust, Series 2019-IMC1, Class A3, | ||||||||
3.030% VRN 7/25/49 (a) (b) | 976,492 | 973,447 | ||||||
Deephaven Residential Mortgage Trust | ||||||||
Series 2018-1A, Class A1, 2.976% VRN 12/25/57 (a) (b) | 259,239 | 260,856 | ||||||
Series 2018-1A, Class A2, 3.027% VRN 12/25/57 (a) (b) | 259,239 | 260,991 | ||||||
Series 2018-2A, Class A1, 3.479% VRN 4/25/58 (a) (b) | 863,812 | 873,761 | ||||||
Series 2019-1A, Class A3, 3.948% VRN 1/25/59 (a) (b) | 182,923 | 184,932 | ||||||
Series 2018-4A, Class A3, 4.285% VRN 10/25/58 (a) (b) | 1,284,010 | 1,296,900 | ||||||
JP Morgan Mortgage Trust | ||||||||
Series 2018-1, Class A5, 3.500% VRN 6/25/48 (a) (b) | 251,440 | 251,939 | ||||||
Series 2018-3, Class A5, 3.500% VRN 9/25/48 (a) (b) | 460,642 | 463,826 | ||||||
Series 2017-6, Class A5, 3.500% VRN 12/25/48 (a) (b) | 313,270 | 316,972 | ||||||
New Residential Mortgage Loan Trust, Series 2019-NQM1, Class A3, | ||||||||
3.928% VRN 1/25/49 (a) (b) | 866,104 | 881,058 | ||||||
Onslow Bay Financial LLC, Series 2020-EXP1, Class 2A2, 1 mo. USD LIBOR + .950% | ||||||||
1.098% FRN 2/25/60 (a) | 1,621,699 | 1,624,272 | ||||||
Opteum Mortgage Acceptance Corp. Asset Backed Pass-Through Certificates, Series 2005-4, Class 1APT, 1 mo. USD LIBOR + .310% | ||||||||
0.458% FRN 11/25/35 | 970,575 | 935,861 | ||||||
PSMC Trust, Series 2018-1, Class A3, | ||||||||
3.500% VRN 2/25/48 (a) (b) | 324,511 | 327,994 | ||||||
Sequoia Mortgage Trust | ||||||||
Series 2018-3, Class A4, 3.500% VRN 3/25/48 (a) (b) | 358,028 | 359,092 | ||||||
Series 2018-CH1, Class A10, 4.000% VRN 2/25/48 (a) (b) | 223,333 | 225,126 | ||||||
Series 2018-CH2, Class A12, 4.000% VRN 6/25/48 (a) (b) | 752,314 | 761,322 | ||||||
Series 2018-CH3, Class A11, 4.000% VRN 8/25/48 (a) (b) | 159,570 | 160,432 | ||||||
Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3, | ||||||||
2.916% VRN 9/27/49 (a) (b) | 919,707 | 932,072 | ||||||
Verus Securitization Trust | ||||||||
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (b) | 894,965 | 914,165 | ||||||
Series 2019-1, Class A1, 3.836% VRN 2/25/59 (a) (b) | 1,848,279 | 1,869,457 | ||||||
Series 2019-1, Class A3, 4.040% VRN 2/25/59 (a) (b) | 4,257,297 | 4,316,726 | ||||||
30,498,121 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $209,976,780) | 209,567,714 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
U.S. Government Agency Obligations and Instrumentalities — 4.6% | ||||||||
Pass-Through Securities — 0.1% | ||||||||
Federal Home Loan Mortgage Corp. Pool #1Q0239, 1 year CMT + 2.211% 3.823% 3/01/37 | $ | 172,609 | $ | 181,891 | ||||
Whole Loans — 4.5% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||
Series 2020-DNA3, Class M1, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/50 (a) | 9,600,000 | 9,616,151 | ||||||
Series 2020-DNA4, Class M1, 1 mo. USD LIBOR + 1.500% 1.648% FRN 8/25/50 (a) | 5,040,000 | 5,055,288 | ||||||
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% | ||||||||
2.298% FRN 9/25/31 (a) | 670,903 | 669,138 | ||||||
15,340,577 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $15,490,335) | 15,522,468 | |||||||
U.S. Treasury Obligations — 22.0% | ||||||||
U.S. Treasury Bonds & Notes — 22.0% | ||||||||
U.S. Treasury Inflation Index | ||||||||
0.125% 10/15/24 | 6,260,202 | 6,645,229 | ||||||
0.125% 4/15/25 | 601,758 | 640,457 | ||||||
0.125% 7/15/26 | 2,215,538 | 2,403,425 | ||||||
0.125% 1/15/30 | 4,732,383 | 5,231,501 | ||||||
0.125% 7/15/30 | 1,919,760 | 2,135,533 | ||||||
0.250% 1/15/25 | 5,249,952 | 5,602,068 | ||||||
0.250% 7/15/29 | 3,899,126 | 4,362,706 | ||||||
0.250% 2/15/50 | 2,216,786 | 2,620,195 | ||||||
0.375% 7/15/25 (c) | 1,988,186 | 2,158,735 | ||||||
0.375% 7/15/27 | 52,952 | 58,881 | ||||||
0.500% 4/15/24 | 2,773,332 | 2,944,679 | ||||||
0.500% 1/15/28 | 1,339,056 | 1,503,143 | ||||||
0.625% 4/15/23 | 3,076,673 | 3,219,209 | ||||||
0.625% 1/15/24 | 2,109,494 | 2,241,832 | ||||||
0.625% 1/15/26 | 2,425,829 | 2,674,428 | ||||||
0.625% 2/15/43 | 1,690,155 | 2,085,493 | ||||||
0.750% 7/15/28 | 2,244,665 | 2,586,684 | ||||||
0.750% 2/15/45 | 1,925,210 | 2,454,342 | ||||||
0.875% 1/15/29 | 2,051,920 | 2,390,888 | ||||||
0.875% 2/15/47 | 965,862 | 1,286,797 | ||||||
1.000% 2/15/48 | 1,575,723 | 2,176,714 | ||||||
1.375% 2/15/44 | 1,889,635 | 2,691,869 | ||||||
2.125% 2/15/41 | 1,301,256 | 2,023,555 | ||||||
2.375% 1/15/25 | 2,817,377 | 3,271,403 | ||||||
3.375% 4/15/32 | 364,870 | 554,225 | ||||||
3.625% 4/15/28 | 1,521,606 | 2,087,066 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
3.875% 4/15/29 | $ | 4,097,184 | $ | 5,892,103 | ||||
73,943,160 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $69,215,388) | 73,943,160 | |||||||
TOTAL BONDS & NOTES (Cost $294,707,294) | 299,058,153 | |||||||
TOTAL PURCHASED OPTIONS (#) —
0.4% (Cost $1,845,236) | 1,192,932 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $296,552,530) | 300,251,085 | |||||||
Short-Term Investments — 10.5% | ||||||||
Commercial Paper — 8.9% | ||||||||
Avangrid, Inc. | ||||||||
0.254% 10/20/20 (a) | 1,000,000 | 999,898 | ||||||
BP Capital Markets PLC | ||||||||
1.274% 11/02/20 (a) | 3,000,000 | 2,999,667 | ||||||
Carnival Corp. | ||||||||
1.746% 11/25/20 (a) | 4,000,000 | 3,975,690 | ||||||
1.902% 11/25/20 (a) | 2,000,000 | 1,987,845 | ||||||
Dominion Resources, Inc. | ||||||||
0.203%, 10/13/20 | 1,000,000 | 999,937 | ||||||
0.335%, 11/03/20 | 3,000,000 | 2,999,453 | ||||||
Duke Energy Corp. | ||||||||
0.223% 1/05/21 (a) | 2,000,000 | 1,998,712 | ||||||
Harley-Davidson Funding Corp. | ||||||||
0.304% 10/19/20 (a) | 3,000,000 | 2,999,669 | ||||||
NRW Bank | ||||||||
0.183% 12/08/20 (a) | 1,000,000 | 999,707 | ||||||
Nutrien Ltd. | ||||||||
0.223% 12/17/20 (a) | 4,000,000 | 3,998,076 | ||||||
Schlumberger Holdings Corp. | ||||||||
0.254% 1/11/21 (a) | 1,000,000 | 999,671 | ||||||
Societe Generale SA | ||||||||
0.081% 10/06/20 (a) | 1,000,000 | 999,983 | ||||||
Suncor Energy, Inc. | ||||||||
0.254% 12/07/20 (a) | 4,000,000 | 3,998,376 | ||||||
29,956,684 | ||||||||
Repurchase Agreement — 0.7% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (d) | 2,321,040 | 2,321,040 | ||||||
U.S. Treasury Bill — 0.9% | ||||||||
U.S. Treasury Bill | ||||||||
0.000% 10/06/20 | 3,000,000 | 2,999,972 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $35,294,112) | 35,277,696 | |||||||
TOTAL INVESTMENTS — 99.9% (Cost $331,846,642) (e) | 335,528,781 | |||||||
Other Assets/(Liabilities) — 0.1% | 323,397 | |||||||
NET ASSETS — 100.0% | $ | 335,852,178 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Abbreviation Legend
CLO | Collateralized Loan Obligation |
FRN | Floating Rate Note |
VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2020, the aggregate market value of these securities amounted to $213,039,561 or 63.43% of net assets. |
(b) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at September 30, 2020. |
(c) | A portion of this security is pledged/held as collateral for open derivatives. |
(d) | Maturity value of $2,321,040. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $2,367,539. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
(#) Interest Rate Swaptions Purchased | |||||||||||||||||||||||||
Paid by Fund | Received by Fund | ||||||||||||||||||||||||
Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional Amount | Value | Premium Paid (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||
Call | |||||||||||||||||||||||||
10-Year Rate
Swap, | Barclays Bank PLC | 12/13/32 | 3-Month LIBOR
|
Quarterly | 2.44% | Semi-Annually | USD | 1,967,000 | $ | 249,612 | $ | 98,335 | $ | 151,277 | |||||||||||
Put | |||||||||||||||||||||||||
10-Year
Rate Swap, | Barclays Bank PLC | 12/13/32 | 2.94% | Semi-Annually | 3-Month
LIBOR | Quarterly | USD | 22,880,000 | $ | 631,717 | $ | 1,143,840 | $ | (512,123 | ) | ||||||||||
10-Year
Rate
Swap, | Credit Suisse International | 1/31/33 | 3.11% | Semi-Annually | 3-Month LIBOR | Quarterly | USD | 12,590,000 | 311,603 | 603,061 | (291,458 | ) | |||||||||||||
943,320 | 1,746,901 | (803,581 | ) | ||||||||||||||||||||||
$ | 1,192,932 | $ | 1,845,236 | $ | (652,304 | ) |
Futures contracts | ||||||||||||||
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||||
Long | ||||||||||||||
U.S. Treasury Long Bond | 12/21/20 | 36 | $ | 6,355,798 | $ | (9,673 | ) | |||||||
U.S. Treasury Note 2 Year | 12/31/20 | 2 | 441,897 | 25 | ||||||||||
U.S. Treasury Note 5 Year | 12/31/20 | 48 | 6,048,199 | 1,301 | ||||||||||
$ | (8,347 | ) | ||||||||||||
Short | ||||||||||||||
U.S. Treasury Ultra 10 Year | 12/21/20 | 34 | $ | (5,423,486 | ) | $ | (13,858 | ) | ||||||
U.S. Treasury Ultra Bond | 12/21/20 | 16 | (3,591,369 | ) | 42,369 | |||||||||
| $ | 28,511 |
MML Inflation-Protected and Income Fund — Portfolio of Investments (Continued) |
Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||
Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||
CDX.NA.IG Series 35† | 1.00% | Quarterly | 12/20/2025 | USD | 1,800,000 | $ | (37,514 | ) | $ | (44,103 | ) | $ | 6,589 |
OTC Interest Rate Swaps | ||||||||||||||||||||||||
Paid by the Fund | Received by the Fund | |||||||||||||||||||||||
Rate/ Reference | Frequency | Rate/ Reference | Frequency | Counterparty | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||
1.833% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs & Co. | 8/28/23 | USD | 3,000,000 | $ | (3,500 | ) | $ | — | $ | (3,500 | ) | |||||||||
1.880% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs & Co. | 8/28/25 | USD | 2,000,000 | (3,660 | ) | — | (3,660 | ) | ||||||||||||
1.643% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs International | 12/09/21 | USD | 11,000,000 | (77,658 | ) | — | (77,658 | ) | ||||||||||||
1.180% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs International | 6/22/22 | USD | 3,000,000 | 34,335 | — | 34,335 | ||||||||||||||
1.669% | Maturity | U.S. Consumer Price Index | Maturity | Goldman Sachs International | 11/08/22 | USD | 1,920,000 | (15,200 | ) | — | (15,200 | ) | ||||||||||||
$ | (65,683 | ) | $ | — | $ | (65,683 | ) |
OTC Total Return Swaps | ||||||||||||||||||||||||||
Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||
Rate/ Reference | No. of Contracts/ Notional | Frequency | Rate/ Reference | No. of Contracts/ Notional | Frequency | Counterparty | Termination Date | Value | Upfront Premium Received (Paid)/ Received | Unrealized Appreciation (Depreciation) | ||||||||||||||||
0.29% | USD | 42,656,014 | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | 123,929 | Maturity | BNP Paribas SA | 1/29/21 | $ | 306,525 | $ | — | $ | 306,525 | ||||||||||||
0.30% | USD | 64,794,997 | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | 186,216 | Maturity | BNP Paribas SA | 2/26/21 | (239,621 | ) | — | (239,621 | ) | |||||||||||||
0.31% | USD | 32,000,000 | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | 96,168 | Maturity | Goldman Sachs International | 10/30/20 | 1,338,554 | — | 1,338,554 | |||||||||||||||
0.29% | USD | 53,814,689 | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | 156,349 | Maturity | Goldman Sachs International | 1/29/21 | 386,715 | — | 386,715 | |||||||||||||||
0.30% | USD | 53,995,831 | Maturity | Bloomberg Barclays US Treasury Inflation Notes TR Index | 155,180 | Maturity | Goldman Sachs International | 2/26/21 | (199,684 | ) | — | (199,684 | ) | |||||||||||||
$ | 1,592,489 | $ | — | $ | 1,592,489 |
† | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
Currency Legend
USD | U.S. Dollar |
MML Managed Bond Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Number of Shares | Value | |||||||
Equities — 0.2% | ||||||||
Preferred Stock — 0.2% | ||||||||
Financial — 0.2% | ||||||||
Insurance — 0.2% | ||||||||
Allstate Corp., 3 mo. USD LIBOR + 3.165% 5.100% VRN 1/15/53 | 95,000 | $ | 2,467,150 | |||||
TOTAL PREFERRED STOCK (Cost $2,375,000) | 2,467,150 | |||||||
TOTAL EQUITIES (Cost $2,375,000) | 2,467,150 |
Principal Amount | ||||||||
Bonds & Notes — 98.4% | ||||||||
Corporate Debt — 40.0% | ||||||||
Aerospace & Defense — 0.2% | ||||||||
BAE Systems PLC 1.900% 2/15/31 (a) | $ | 595,000 | 592,274 | |||||
Raytheon Technologies Corp. 4.500% 6/01/42 | 1,000,000 | 1,262,526 | ||||||
1,854,800 | ||||||||
Agriculture — 1.0% | ||||||||
BAT Capital Corp. 2.259% 3/25/28 | 725,000 | 728,597 | ||||||
4.700% 4/02/27 | 1,050,000 | 1,204,592 | ||||||
4.758% 9/06/49 | 540,000 | 586,469 | ||||||
Bunge Ltd. Finance Corp. 1.630% 8/17/25 | 385,000 | 386,684 | ||||||
3.250% 8/15/26 | 1,179,000 | 1,271,374 | ||||||
4.350% 3/15/24 | 1,810,000 | 1,994,441 | ||||||
Imperial Brands Finance PLC 3.875% 7/26/29 (a) | 2,764,000 | 2,993,921 | ||||||
Reynolds American, Inc. 5.850% 8/15/45 | 985,000 | 1,196,917 | ||||||
10,362,995 | ||||||||
Airlines — 0.3% | ||||||||
American Airlines Pass-Through Trust, Series 2014-1, Class B, 4.375% 4/01/24 | 140,132 | 99,245 | ||||||
Delta Air Lines, Inc. / SkyMiles IP Ltd. 4.500% 10/20/25 (a) | 980,000 | 1,006,315 | ||||||
Spirit Airlines Pass-Through Trust, Series 2015-1, Class A, 4.100% 10/01/29 | 1,431,516 | 1,284,875 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
United Airlines Pass-Through Trust, Series 2018-1, Class B, 4.600% 9/01/27 | $ | 465,264 | $ | 360,777 | ||||
2,751,212 | ||||||||
Auto Manufacturers — 1.7% | ||||||||
Ford Motor Credit Co. LLC 3.087% 1/09/23 | 1,410,000 | 1,381,645 | ||||||
4.140% 2/15/23 | 2,760,000 | 2,777,167 | ||||||
General Motors Co. 4.200% 10/01/27 | 565,000 | 605,520 | ||||||
5.150% 4/01/38 | 800,000 | 849,574 | ||||||
General Motors Financial Co., Inc. 3.500% 11/07/24 | 2,100,000 | 2,206,149 | ||||||
4.150% 6/19/23 | 2,193,000 | 2,327,913 | ||||||
4.200% 11/06/21 | 1,216,000 | 1,255,088 | ||||||
Hyundai Capital America 2.850% 11/01/22 (a) | 1,705,000 | 1,763,175 | ||||||
3.000% 2/10/27 (a) | 4,225,000 | 4,365,570 | ||||||
17,531,801 | ||||||||
Banks — 5.7% | ||||||||
ABN AMRO Bank NV 4.750% 7/28/25 (a) | 310,000 | 349,091 | ||||||
Associated Banc-Corp. 4.250% 1/15/25 | 2,411,000 | 2,568,832 | ||||||
Bank of America Corp. SOFR + 2.150% 2.592% VRN 4/29/31 | 1,255,000 | 1,335,221 | ||||||
4.183% 11/25/27 | 1,090,000 | 1,248,832 | ||||||
3 mo. USD LIBOR + 1.814% 4.244% VRN 4/24/38 | 1,150,000 | 1,401,404 | ||||||
3 mo. USD LIBOR + 1.310% 4.271% VRN 7/23/29 | 475,000 | 557,204 | ||||||
6.110% 1/29/37 | 1,550,000 | 2,188,062 | ||||||
7.750% 5/14/38 | 400,000 | 662,475 | ||||||
The Bank of Nova Scotia 4.500% 12/16/25 | 795,000 | 920,915 | ||||||
3 mo. USD LIBOR + 2.648% 4.650% VRN (b) | 3,575,000 | 3,465,533 | ||||||
Barclays Bank PLC 10.179% 6/12/21 (a) | 3,351,000 | 3,525,617 | ||||||
Barclays PLC 3 mo. USD LIBOR + 1.380% 1.660% FRN 5/16/24 | 2,085,000 | 2,090,679 | ||||||
4.337% 1/10/28 | 1,720,000 | 1,915,323 | ||||||
BPCE SA 1.652% 10/06/26 (a) (c) | 3,635,000 | 3,640,844 | ||||||
Citigroup, Inc. 4.125% 7/25/28 | 1,725,000 | 1,986,878 | ||||||
4.450% 9/29/27 | 450,000 | 521,817 | ||||||
6.625% 6/15/32 | 375,000 | 523,924 | ||||||
Credit Suisse AG 6.500% 8/08/23 (a) | 3,069,000 | 3,475,642 | ||||||
Deutsche Bank AG 3.150% 1/22/21 | 1,998,000 | 2,010,088 | ||||||
Discover Bank 5 year USD Swap + 1.730% 4.682% VRN 8/09/28 | 2,905,000 | 3,045,428 | ||||||
First Republic Bank 4.375% 8/01/46 | 3,210,000 | 3,888,295 | ||||||
Fulton Financial Corp. 3.600% 3/16/22 | 1,565,000 | 1,599,513 | ||||||
The Goldman Sachs Group, Inc. |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
4.250% 10/21/25 | $ | 550,000 | $ | 625,736 | ||||
5.950% 1/15/27 | 1,410,000 | 1,735,001 | ||||||
6.750% 10/01/37 | 1,145,000 | 1,663,603 | ||||||
HSBC Holdings PLC 4.250% 3/14/24 | 1,225,000 | 1,313,646 | ||||||
4.250% 8/18/25 | 1,512,000 | 1,643,199 | ||||||
JP Morgan Chase & Co. SOFR + 2.515% 2.956% VRN 5/13/31 | 990,000 | 1,062,175 | ||||||
5.600% 7/15/41 | 1,125,000 | 1,649,805 | ||||||
Morgan Stanley 4.350% 9/08/26 | 3,200,000 | 3,704,003 | ||||||
Valley National Bancorp 5.125% 9/27/23 | 1,530,000 | 1,639,389 | ||||||
Wells Fargo & Co. 5.375% 11/02/43 | 909,000 | 1,203,290 | ||||||
59,161,464 | ||||||||
Beverages — 0.6% | ||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. 4.900% 2/01/46 | 3,475,000 | 4,284,777 | ||||||
Bacardi Ltd. 5.150% 5/15/38 (a) | 450,000 | 548,776 | ||||||
Molson Coors Beverage Co. 4.200% 7/15/46 | 1,124,000 | 1,185,640 | ||||||
5.000% 5/01/42 | 360,000 | 407,720 | ||||||
6,426,913 | ||||||||
Chemicals — 1.0% | ||||||||
DuPont
de Nemours, Inc. | 1,750,000 | 2,220,676 | ||||||
Huntsman International LLC 5.125% 11/15/22 | 1,000,000 | 1,075,298 | ||||||
Nutrition & Biosciences, Inc. 1.832% 10/15/27 (a) | 755,000 | 758,423 | ||||||
Syngenta Finance NV 4.441% 4/24/23 (a) | 2,065,000 | 2,180,931 | ||||||
Yara International ASA 3.148% 6/04/30 (a) | 295,000 | 315,676 | ||||||
4.750% 6/01/28 (a) | 3,328,000 | 3,899,811 | ||||||
10,450,815 | ||||||||
Commercial Services — 0.1% | ||||||||
ERAC USA Finance LLC 6.700% 6/01/34 (a) | 125,000 | 172,648 | ||||||
PayPal Holdings, Inc. 3.250% 6/01/50 | 695,000 | 768,818 | ||||||
941,466 | ||||||||
Computers — 0.9% | ||||||||
Apple, Inc. 2.650% 5/11/50 | 700,000 | 733,518 | ||||||
Dell International LLC/EMC Corp. 6.020% 6/15/26 (a) | 2,702,000 | 3,172,633 | ||||||
Genpact Luxembourg Sarl 3.375% 12/01/24 | 2,660,000 | 2,785,523 | ||||||
3.700% STEP 4/01/22 | 2,400,000 | 2,456,983 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Leidos, Inc. 4.375% 5/15/30 (a) | $ | 575,000 | $ | 673,871 | ||||
9,822,528 | ||||||||
Diversified Financial Services — 3.3% | ||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 4.500% 9/15/23 | 1,370,000 | 1,411,855 | ||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 6.500% 7/15/25 | 645,000 | 696,320 | ||||||
Aircastle Ltd. 4.400% 9/25/23 | 3,095,000 | 3,061,729 | ||||||
5.000% 4/01/23 | 1,750,000 | 1,753,943 | ||||||
Antares Holdings LP 6.000% 8/15/23 (a) | 2,945,000 | 2,978,152 | ||||||
8.500% 5/18/25 (a) | 720,000 | 759,324 | ||||||
Ares Finance Co. LLC 4.000% 10/08/24 (a) | 2,080,000 | 2,223,481 | ||||||
Avolon Holdings Funding Ltd. 3.250% 2/15/27 (a) | 1,365,000 | 1,217,759 | ||||||
Brookfield Finance, Inc. 4.350% 4/15/30 | 2,825,000 | 3,298,015 | ||||||
4.850% 3/29/29 | 1,752,000 | 2,090,352 | ||||||
GE Capital International Funding Co. Unlimited Co. 4.418% 11/15/35 | 335,000 | 353,612 | ||||||
Global Aircraft Leasing Co. Ltd. 6.500% 9/15/24 (a) | 1,398,937 | 779,907 | ||||||
Lazard Group LLC 3.625% 3/01/27 | 1,253,000 | 1,353,346 | ||||||
3.750% 2/13/25 | 800,000 | 867,172 | ||||||
4.500% 9/19/28 | 755,000 | 873,386 | ||||||
LeasePlan Corp. NV 2.875% 10/24/24 (a) | 1,535,000 | 1,584,146 | ||||||
Legg Mason, Inc. 5.625% 1/15/44 | 1,195,000 | 1,654,600 | ||||||
Park Aerospace Holdings Ltd. 4.500% 3/15/23 (a) | 1,550,000 | 1,535,971 | ||||||
5.250% 8/15/22 (a) | 5,055,000 | 5,075,450 | ||||||
5.500% 2/15/24 (a) | 545,000 | 549,155 | ||||||
34,117,675 | ||||||||
Electric — 1.2% | ||||||||
Appalachian Power Co. 4.500% 3/01/49 | 1,250,000 | 1,562,679 | ||||||
CMS Energy Corp. 4.875% 3/01/44 | 780,000 | 1,021,222 | ||||||
Entergy Arkansas LLC 2.650% 6/15/51 | 1,765,000 | 1,781,240 | ||||||
Entergy Louisiana LLC 4.950% 1/15/45 | 1,005,000 | 1,105,999 | ||||||
Infraestructura Energetica Nova SAB de CV 3.750% 1/14/28 (a) | 820,000 | 811,800 | ||||||
ITC Holdings Corp. 2.950% 5/14/30 (a) | 895,000 | 962,428 | ||||||
Nevada Power Co. 6.650% 4/01/36 | 550,000 | 812,511 | ||||||
Oncor Electric Delivery Co. 7.500% 9/01/38 | 495,000 | 815,771 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Pacific Gas and Electric Co. 2.500% 2/01/31 | $ | 775,000 | $ | 737,389 | ||||
Potomac Electric Power Co. 4.150% 3/15/43 | 700,000 | 846,996 | ||||||
Xcel Energy, Inc. 6.500% 7/01/36 | 1,250,000 | 1,832,624 | ||||||
12,290,659 | ||||||||
Foods — 0.3% | ||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. 5.500% 1/15/30 (a) | 776,000 | 844,653 | ||||||
Kraft Heinz Foods Co. 3.950% 7/15/25 | 616,000 | 668,390 | ||||||
Mars, Inc. 3.950% 4/01/49 (a) | 660,000 | 798,983 | ||||||
Smithfield Foods, Inc. 3.000% 10/15/30 (a) | 943,000 | 945,037 | ||||||
3,257,063 | ||||||||
Forest Products & Paper — 0.1% | ||||||||
Fibria Overseas Finance Ltd. 4.000% 1/14/25 | 1,250,000 | 1,325,000 | ||||||
Gas — 0.4% | ||||||||
CenterPoint Energy Resources Corp. 6.625% 11/01/37 | 1,250,000 | 1,793,018 | ||||||
NiSource, Inc. 4.800% 2/15/44 | 1,035,000 | 1,293,507 | ||||||
5.800% 2/01/42 | 950,000 | 1,291,512 | ||||||
4,378,037 | ||||||||
Health Care – Products — 0.1% | ||||||||
Dentsply Sirona, Inc. 3.250% 6/01/30 | 600,000 | 652,309 | ||||||
Health Care – Services — 0.3% | ||||||||
City of Hope 4.378% 8/15/48 | 1,050,000 | 1,277,470 | ||||||
Humana, Inc. 4.800% 3/15/47 | 830,000 | 1,086,563 | ||||||
UnitedHealth Group, Inc. 3.125% 5/15/60 | 845,000 | 906,882 | ||||||
3,270,915 | ||||||||
Insurance — 5.7% | ||||||||
Allstate Corp. 3 mo. USD LIBOR + 2.938% 5.750% VRN 8/15/53 | 4,260,000 | 4,435,827 | ||||||
American International Group, Inc. 3.400% 6/30/30 | 745,000 | 824,986 | ||||||
4.200% 4/01/28 | 1,025,000 | 1,188,694 | ||||||
4.500% 7/16/44 | 725,000 | 845,753 | ||||||
4.750% 4/01/48 | 505,000 | 618,705 | ||||||
3 mo. USD LIBOR + 2.868% 5.750% VRN 4/01/48 | 2,860,000 | 3,123,952 | ||||||
AmTrust Financial Services, Inc. 6.125% 8/15/23 | 3,370,000 | 3,124,659 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Arch Capital Group US, Inc. | ||||||||
5.144% 11/01/43 | $ | 540,000 | $ | 687,035 | ||||
Athene Global Funding 2.500% 1/14/25 (a) | 2,780,000 | 2,865,524 | ||||||
Athene Holding Ltd. 4.125% 1/12/28 | 5,728,000 | 6,220,088 | ||||||
6.150% 4/03/30 | 200,000 | 237,505 | ||||||
AXIS Specialty Finance LLC 3.900% 7/15/29 | 1,110,000 | 1,213,182 | ||||||
5 year CMT + 3.186% 4.900% VRN 1/15/40 | 1,315,000 | 1,313,753 | ||||||
AXIS Specialty Finance PLC | ||||||||
4.000% 12/06/27 | 2,500,000 | 2,736,529 | ||||||
Brighthouse Financial, Inc. 3.700% 6/22/27 | 1,175,000 | 1,218,901 | ||||||
4.700% 6/22/47 | 1,125,000 | 1,082,697 | ||||||
5.625% 5/15/30 | 1,055,000 | 1,228,616 | ||||||
Brown & Brown, Inc. 2.375% 3/15/31 | 600,000 | 603,690 | ||||||
4.200% 9/15/24 | 1,132,000 | 1,249,173 | ||||||
CNO Financial Group, Inc. | ||||||||
5.250% 5/30/25 | 2,621,000 | 3,006,193 | ||||||
Enstar Group Ltd. 4.500% 3/10/22 | 920,000 | 958,502 | ||||||
4.950% 6/01/29 | 1,600,000 | 1,792,891 | ||||||
Equitable Holdings, Inc. | ||||||||
5.000% 4/20/48 | 900,000 | 1,063,827 | ||||||
Markel Corp. | ||||||||
3.350% 9/17/29 | 585,000 | 645,907 | ||||||
New York Life Insurance Co. | ||||||||
3.750% 5/15/50 (a) | 510,000 | 574,985 | ||||||
The Progressive Corp. 3 mo. USD LIBOR + 2.539% 5.375% VRN (b) | 1,625,000 | 1,625,000 | ||||||
Prudential Financial, Inc. 5 year CMT + 3.035% 3.700% VRN 10/01/50 | 460,000 | 469,338 | ||||||
3 mo. USD LIBOR + 3.920% 5.625% VRN 6/15/43 | 1,025,000 | 1,088,730 | ||||||
3 mo. USD LIBOR + 2.665% 5.700% VRN 9/15/48 | 2,440,000 | 2,758,543 | ||||||
3 mo. USD LIBOR + 4.175% 5.875% VRN 9/15/42 | 550,000 | 579,265 | ||||||
Reinsurance Group of America, Inc. | ||||||||
3.150% 6/15/30 | 1,160,000 | 1,262,935 | ||||||
Teachers Insurance & Annuity Association of America | ||||||||
4.270% 5/15/47 (a) | 750,000 | 878,114 | ||||||
USF&G Capital I | ||||||||
8.500% 12/15/45 (a) | 885,000 | 1,390,803 | ||||||
Voya Financial, Inc. 3 mo. USD LIBOR + 2.084% | ||||||||
4.700% VRN 1/23/48 | 1,080,000 | 1,081,013 | ||||||
Willis North America, Inc. 2.950% 9/15/29 | 905,000 | 975,209 | ||||||
4.500% 9/15/28 | 1,965,000 | 2,336,406 | ||||||
XLIT Ltd. 4.450% 3/31/25 | 2,250,000 | 2,544,654 | ||||||
59,851,584 | ||||||||
Internet — 0.2% | ||||||||
Alphabet, Inc. 2.250% 8/15/60 | 820,000 | 775,374 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Amazon.com, Inc. | ||||||||
4.050% 8/22/47 | $ | 775,000 | $ | 1,006,886 | ||||
1,782,260 | ||||||||
Investment Companies — 1.3% | ||||||||
Ares Capital Corp. 3.500% 2/10/23 | 2,600,000 | 2,670,648 | ||||||
4.200% 6/10/24 | 1,450,000 | 1,510,462 | ||||||
BlackRock TCP Capital Corp. 3.900% 8/23/24 | 2,910,000 | 2,956,618 | ||||||
4.125% 8/11/22 | 2,870,000 | 2,910,846 | ||||||
Sixth Street Specialty Lending, Inc. 3.875% 11/01/24 | 3,575,000 | 3,621,657 | ||||||
13,670,231 | ||||||||
Iron & Steel — 0.2% | ||||||||
Vale Overseas Ltd. 6.250% 8/10/26 | 1,250,000 | 1,478,125 | ||||||
6.875% 11/21/36 | 630,000 | 820,065 | ||||||
2,298,190 | ||||||||
Machinery – Diversified — 0.3% | ||||||||
CNH Industrial Capital LLC 1.950% 7/02/23 | 560,000 | 570,499 | ||||||
3.875% 10/15/21 | 2,280,000 | 2,342,042 | ||||||
2,912,541 | ||||||||
Media — 1.4% | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
6.484% 10/23/45 | 735,000 | 985,821 | ||||||
Comcast Corp. 3.450% 2/01/50 | 1,340,000 | 1,513,743 | ||||||
3.969% 11/01/47 | 630,000 | 753,094 | ||||||
4.750% 3/01/44 | 880,000 | 1,159,427 | ||||||
6.950% 8/15/37 | 265,000 | 419,479 | ||||||
Discovery Communications LLC 3.950% 3/20/28 | 1,052,000 | 1,196,754 | ||||||
4.000% 9/15/55 (a) | 1,210,000 | 1,228,519 | ||||||
4.650% 5/15/50 | 490,000 | 561,694 | ||||||
Grupo Televisa SAB 6.625% 3/18/25 | 2,196,000 | 2,644,808 | ||||||
Time Warner Cable, Inc. | ||||||||
6.750% 6/15/39 | 985,000 | 1,332,030 | ||||||
ViacomCBS, Inc. 4.200% 5/19/32 | 1,220,000 | 1,396,114 | ||||||
The Walt Disney Co. | ||||||||
3.600% 1/13/51 | 1,515,000 | 1,707,264 | ||||||
14,898,747 | ||||||||
Mining — 0.9% | ||||||||
Glencore Finance Canada Ltd. 5.550% STEP 10/25/42 (a) | 894,000 | 1,047,983 | ||||||
Glencore Funding LLC | ||||||||
3.875% 10/27/27 (a) | 975,000 | 1,063,120 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
4.000% 4/16/25 (a) | $ | 2,150,000 | $ | 2,359,818 | ||||
4.625% 4/29/24 (a) | 3,065,000 | 3,376,562 | ||||||
Kinross Gold Corp. 4.500% 7/15/27 | 470,000 | 533,070 | ||||||
Teck Resources Ltd. 6.000% 8/15/40 | 850,000 | 962,518 | ||||||
9,343,071 | ||||||||
Miscellaneous - Manufacturing — 0.2% | ||||||||
Carlisle Cos., Inc. 2.750% 3/01/30 | 1,353,000 | 1,438,188 | ||||||
General Electric Co. 4.125% 10/09/42 | 113,000 | 114,327 | ||||||
6.875% 1/10/39 | 298,000 | 382,809 | ||||||
1,935,324 | ||||||||
Oil & Gas — 2.4% | ||||||||
BP Capital Markets PLC 5 year CMT + 4.036% 4.375% VRN (b) | 1,500,000 | 1,563,750 | ||||||
Cenovus Energy, Inc. 4.250% 4/15/27 | 1,125,000 | 1,017,090 | ||||||
6.750% 11/15/39 | 765,000 | 769,092 | ||||||
Devon Energy Corp. 5.850% 12/15/25 | 1,510,000 | 1,692,252 | ||||||
Diamondback Energy, Inc. 3.250% 12/01/26 | 1,105,000 | 1,108,640 | ||||||
EQT Corp. 3.900% 10/01/27 | 4,510,000 | 4,152,019 | ||||||
7.875% STEP 2/01/25 | 1,725,000 | 1,912,076 | ||||||
Marathon Petroleum Corp. 4.500% 4/01/48 | 510,000 | 516,861 | ||||||
6.500% 3/01/41 | 1,120,000 | 1,365,410 | ||||||
Newfield Exploration Co. 5.375% 1/01/26 | 1,650,000 | 1,549,565 | ||||||
5.625% 7/01/24 | 975,000 | 945,799 | ||||||
5.750% 1/30/22 | 1,904,000 | 1,903,177 | ||||||
Occidental Petroleum Corp. 6.600% 3/15/46 | 1,258,000 | 1,083,453 | ||||||
Ovintiv, Inc. | ||||||||
6.500% 2/01/38 | 545,000 | 494,933 | ||||||
Patterson-UTI Energy, Inc. 3.950% 2/01/28 | 1,680,000 | 1,298,460 | ||||||
Petroleos Mexicanos | ||||||||
5.350% 2/12/28 | 665,000 | 575,225 | ||||||
6.375% 1/23/45 | 595,000 | 456,068 | ||||||
6.500% 3/13/27 | 585,000 | 548,163 | ||||||
6.625% 6/15/35 | 140,000 | 116,262 | ||||||
Saudi Arabian Oil Co. | ||||||||
4.250% 4/16/39 (a) | 2,075,000 | 2,385,183 | ||||||
25,453,478 | ||||||||
Oil & Gas Services — 0.3% | ||||||||
National Oilwell Varco, Inc. 3.600% 12/01/29 | 1,570,000 | 1,524,895 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
3.950% 12/01/42 | $ | 1,506,000 | $ | 1,354,236 | ||||
2,879,131 | ||||||||
Packaging & Containers — 0.3% | ||||||||
Amcor Finance USA, Inc. 3.625% 4/28/26 | 2,230,000 | 2,484,153 | ||||||
WRKCo, Inc. 3.000% 6/15/33 | 655,000 | 712,505 | ||||||
3,196,658 | ||||||||
Pharmaceuticals — 1.6% | ||||||||
AbbVie, Inc. 4.050% 11/21/39 (a) | 1,045,000 | 1,201,706 | ||||||
4.700% 5/14/45 | 1,260,000 | 1,551,439 | ||||||
Bristol-Myers Squibb Co. 4.350% 11/15/47 | 830,000 | 1,096,192 | ||||||
Cigna Corp. 4.800% 7/15/46 (a) | 880,000 | 1,102,696 | ||||||
CVS Health Corp. 4.300% 3/25/28 | 425,000 | 497,450 | ||||||
5.050% 3/25/48 | 455,000 | 580,766 | ||||||
6.125% 9/15/39 | 560,000 | 778,116 | ||||||
CVS Pass-Through Trust 5.926% 1/10/34 (a) | 1,048,962 | 1,213,960 | ||||||
7.507% 1/10/32 (a) | 895,812 | 1,118,664 | ||||||
McKesson Corp. 6.000% 3/01/41 | 550,000 | 749,359 | ||||||
Mylan NV 3.950% 6/15/26 | 2,230,000 | 2,508,817 | ||||||
5.250% 6/15/46 | 1,375,000 | 1,706,518 | ||||||
Takeda Pharmaceutical Co. Ltd. 3.375% 7/09/60 | 970,000 | 1,021,837 | ||||||
Teva Pharmaceutical Finance Netherlands III BV 2.200% 7/21/21 | 724,000 | 717,122 | ||||||
Upjohn, Inc. 2.700% 6/22/30 (a) | 1,235,000 | 1,278,671 | ||||||
17,123,313 | ||||||||
Pipelines — 2.0% | ||||||||
Energy Transfer Operating LP 4.200% 4/15/27 | 1,085,000 | 1,122,594 | ||||||
5.875% 1/15/24 | 1,150,000 | 1,266,136 | ||||||
6.125% 12/15/45 | 1,000,000 | 1,003,791 | ||||||
3 mo. USD LIBOR + 4.028% 6.250% VRN (b) | 2,370,000 | 1,546,425 | ||||||
EnLink Midstream Partners LP 4.150% 6/01/25 | 2,924,000 | 2,517,652 | ||||||
4.850% 7/15/26 | 951,000 | 822,720 | ||||||
Enterprise Products Operating LLC 3 mo. USD LIBOR + 3.033% 5.250% VRN 8/16/77 | 1,775,000 | 1,690,244 | ||||||
3 mo. USD LIBOR + 2.570% 5.375% VRN 2/15/78 | 1,205,000 | 1,072,450 | ||||||
EQM Midstream Partners LP 4.750% 7/15/23 | 2,325,000 | 2,320,466 | ||||||
MPLX LP 4.500% 4/15/38 | 595,000 | 609,130 | ||||||
6.250% 10/15/22 | 652,000 | 652,708 | ||||||
3 mo. USD LIBOR + 4.652% 6.875% VRN (b) | 1,775,000 | 1,453,521 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Plains All American Pipeline LP 3 mo. USD LIBOR + 4.110% 6.125% VRN (b) | $ | 2,345,000 | $ | 1,487,668 | ||||
Plains All American Pipeline LP/PAA Finance Corp. 3.800% 9/15/30 | 1,150,000 | 1,115,134 | ||||||
4.500% 12/15/26 | 617,000 | 656,022 | ||||||
4.700% 6/15/44 | 1,195,000 | 1,059,543 | ||||||
6.650% 1/15/37 | 375,000 | 410,338 | ||||||
Sunoco Logistics Partners Operations LP 5.300% 4/01/44 | 525,000 | 489,137 | ||||||
21,295,679 | ||||||||
Private Equity — 0.7% | ||||||||
Apollo Management Holdings LP 5 year CMT + 3.266% 4.950% VRN 1/14/50 (a) | 805,000 | 804,696 | ||||||
Carlyle Finance Subsidiary LLC 3.500% 9/19/29 (a) | 1,100,000 | 1,190,348 | ||||||
Hercules Capital, Inc. 4.625% 10/23/22 | 2,910,000 | 2,945,776 | ||||||
KKR Group Finance Co. VI LLC 3.750% 7/01/29 (a) | 1,260,000 | 1,449,564 | ||||||
KKR Group Finance Co. VIII LLC 3.500% 8/25/50 (a) | 710,000 | 723,516 | ||||||
7,113,900 | ||||||||
Real Estate Investment Trusts (REITS) — 2.3% | ||||||||
Agree LP 2.900% 10/01/30 | 470,000 | 487,492 | ||||||
American Tower Trust #1 | ||||||||
3.652% 3/15/48 (a) | 1,910,000 | 2,072,114 | ||||||
Crown Castle International Corp. 5.200% 2/15/49 | 287,000 | 377,680 | ||||||
Healthcare Trust of America Holdings LP 3.500% 8/01/26 | 915,000 | 1,018,534 | ||||||
Highwoods Realty LP 4.125% 3/15/28 | 475,000 | 524,052 | ||||||
Host Hotels & Resorts LP 3.500% 9/15/30 | 2,120,000 | 2,029,286 | ||||||
SBA Tower Trust 1.884% 7/15/50 (a) | 1,441,000 | 1,473,005 | ||||||
Service Properties Trust 4.500% 6/15/23 | 760,000 | 745,317 | ||||||
4.950% 10/01/29 | 1,155,000 | 990,412 | ||||||
Spirit Realty LP 3.200% 1/15/27 | 2,280,000 | 2,309,250 | ||||||
3.400% 1/15/30 | 515,000 | 512,037 | ||||||
4.000% 7/15/29 | 1,290,000 | 1,341,849 | ||||||
4.450% 9/15/26 | 133,000 | 142,713 | ||||||
Store Capital Corp. 4.625% 3/15/29 | 1,626,000 | 1,743,563 | ||||||
Tanger Properties LP 3.875% 12/01/23 | 1,448,000 | 1,456,272 | ||||||
VEREIT Operating Partnership LP 3.100% 12/15/29 | 2,790,000 | 2,794,878 | ||||||
3.400% 1/15/28 | 365,000 | 381,094 | ||||||
4.625% 11/01/25 | 2,260,000 | 2,497,086 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
WP Carey, Inc. | ||||||||
4.250% 10/01/26 | $ | 757,000 | $ | 854,647 | ||||
23,751,281 | ||||||||
Retail — 0.6% | ||||||||
Advance Auto Parts, Inc. | ||||||||
1.750% 10/01/27 | 315,000 | 314,065 | ||||||
AutoZone, Inc. | ||||||||
1.650% 1/15/31 | 975,000 | 954,528 | ||||||
El Puerto de Liverpool SAB de CV | ||||||||
3.950% 10/02/24 (a) | 2,620,000 | 2,728,101 | ||||||
Starbucks Corp. | ||||||||
2.550% 11/15/30 | 1,595,000 | 1,693,498 | ||||||
5,690,192 | ||||||||
Semiconductors — 0.2% | ||||||||
KLA Corp. | ||||||||
3.300% 3/01/50 | 1,615,000 | 1,706,282 | ||||||
Software — 0.4% | ||||||||
Broadridge Financial Solutions, Inc. | ||||||||
2.900% 12/01/29 | 1,210,000 | 1,310,827 | ||||||
Microsoft Corp. | ||||||||
4.450% 11/03/45 | 2,064,000 | 2,916,399 | ||||||
4,227,226 | ||||||||
Telecommunications — 1.5% | ||||||||
AT&T, Inc. | ||||||||
1.650% 2/01/28 | 680,000 | 681,286 | ||||||
3.500% 9/15/53 (a) | 1,578,000 | 1,525,648 | ||||||
3.550% 9/15/55 (a) | 5,153,000 | 4,994,147 | ||||||
Crown Castle Towers LLC | ||||||||
3.222% 5/15/42 (a) | 1,700,000 | 1,724,814 | ||||||
4.241% 7/15/48 (a) | 2,750,000 | 3,133,828 | ||||||
Qwest Corp | ||||||||
6.750% 12/01/21 | 725,000 | 765,636 | ||||||
Telefonica Emisiones SAU | ||||||||
4.665% 3/06/38 | 1,105,000 | 1,273,551 | ||||||
Verizon Communications, Inc. | ||||||||
6.550% 9/15/43 | 885,000 | 1,440,586 | ||||||
15,539,496 | ||||||||
Transportation — 0.3% | ||||||||
Autoridad del Canal de Panama | ||||||||
4.950% 7/29/35 (a) | 1,050,000 | 1,305,948 | ||||||
CSX Corp. | ||||||||
4.750% 11/15/48 | 650,000 | 862,931 | ||||||
Norfolk Southern Corp. | ||||||||
4.050% 8/15/52 | 860,000 | 1,053,887 | ||||||
3,222,766 | ||||||||
TOTAL CORPORATE DEBT (Cost $394,012,068) | 416,487,002 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Municipal Obligations — 0.4% | ||||||||
AccessLex Institute, Revenue Bonds, Series 2004-A, Class A3 1.699% 7/01/39 (d) | $ | 50,000 | $ | 49,951 | ||||
JobsOhio Beverage System Series B, Revenue Bonds 4.532% 1/01/35 | 1,950,000 | 2,503,585 | ||||||
Orange County Local Transportation Authority BAB, Revenue Bonds 6.908% 2/15/41 | 1,350,000 | 2,067,768 | ||||||
4,621,304 | ||||||||
TOTAL MUNICIPAL OBLIGATIONS (Cost $3,992,089) | 4,621,304 | |||||||
Non-U.S. Government Agency Obligations — 31.1% | ||||||||
Automobile Asset-Backed Securities — 1.3% | ||||||||
Avis Budget Rental Car Funding AESOP LLC, Series 2019-1A, Class C 4.530% 3/20/23 (a) | 1,271,000 | 1,287,054 | ||||||
Carmax Auto Owner Trust, Series 2019-3, Class D 2.850% 1/15/26 | 1,974,000 | 1,990,112 | ||||||
Carvana Auto Receivables Trust, Series 2019-4A, Class D 3.070% 7/15/25 (a) | 1,625,000 | 1,671,771 | ||||||
Hertz Vehicle Financing II LP Series 2019-3A, Class B, 3.030% 12/26/25 (a) | 2,293,000 | 2,282,684 | ||||||
Series 2018-1A, Class B, 3.600% 2/25/24 (a) | 2,310,000 | 2,290,217 | ||||||
OneMain Direct Auto Receivables Trust, Series 2019-1A, Class B 3.950% 11/14/28 (a) | 1,774,000 | 1,864,521 | ||||||
Santander Revolving Auto Loan Trust Series 2019-A, Class B, 2.800% 1/26/32 (a) | 856,000 | 900,661 | ||||||
Series 2019-A, Class C, 3.000% 1/26/32 (a) | 561,000 | 567,995 | ||||||
Series 2019-A, Class D, 3.450% 1/26/32 (a) | 1,087,000 | 1,083,077 | ||||||
13,938,092 | ||||||||
Commercial Mortgage-Backed Securities — 5.5% | ||||||||
Aventura Mall Trust, Series 2018-AVM, Class C, 4.249% VRN 7/05/40 (a) (d) | 4,270,000 | 4,009,047 | ||||||
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 1.502% FRN 9/15/34 (a) | 670,000 | 626,465 | ||||||
BANK Series 2019-BN17, Class B, 4.128% VRN 4/15/52 (d) | 441,000 | 510,490 | ||||||
Series 2019-BN16, Class AS, 4.267% 2/15/52 | 665,833 | 792,590 | ||||||
Series 2019-BN16, Class B, 4.438% VRN 2/15/52 (d) | 547,420 | 612,081 | ||||||
BBCMS Mortgage Trust Series 2020-C7, Class AS, 2.444% 4/15/53 | 1,326,000 | 1,392,874 | ||||||
Series 2018-CHRS, Class B, 4.409% VRN 8/05/38 (a) (d) | 2,250,000 | 2,000,607 | ||||||
Series 2018-CHRS, Class C, 4.409% VRN 8/05/38 (a) (d) | 1,610,000 | 1,321,506 | ||||||
Series 2018-CHRS, Class D, 4.409% VRN 8/05/38 (a) (d) | 1,370,000 | 1,030,630 | ||||||
Bear Stearns Commercial Mortgage Securities, Series 2007-T26, Class AM, 5.513% VRN 1/12/45 (d) | 362,773 | 359,064 | ||||||
BHMS Mortgage Trust Series 2018-ATLS, Class A, 1 mo. USD LIBOR + 1.250% 1.402% FRN 7/15/35 (a) | 4,450,000 | 4,255,385 | ||||||
Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% 1.652% FRN 7/15/35 (a) | 4,950,000 | 4,591,252 | ||||||
BX Commercial Mortgage Trust Series 2018-IND, Class B, 1 mo. USD LIBOR + .900% 1.052% FRN 11/15/35 (a) | 735,000 | 732,303 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.752% FRN 12/15/36 (a) | $ | 4,113,235 | $ | 4,064,664 | ||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.852% FRN 11/15/35 (a) | 1,876,000 | 1,860,886 | ||||||
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.952% FRN 10/15/36 (a) | 1,641,336 | 1,626,062 | ||||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.152% FRN 10/15/36 (a) | 1,982,134 | 1,958,732 | ||||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D, 1 mo. USD LIBOR + 1.750% | ||||||||
1.902% FRN 12/15/37 (a) | 898,516 | 878,586 | ||||||
Century Plaza Towers | ||||||||
Series 2019-CPT, Class D, 3.097% VRN 11/13/39 (a) (d) | 982,000 | 979,183 | ||||||
Series 2019-CPT, Class E, 3.097% VRN 11/13/39 (a) (d) | 1,556,000 | 1,468,825 | ||||||
Commercial Mortgage Pass-Through Certificates | ||||||||
Series 2012-CR4, Class B, 3.703% 10/15/45 (a) | 1,060,000 | 692,134 | ||||||
Series 2014-UBS2, Class AM, 4.199% 3/10/47 | 1,375,000 | 1,477,202 | ||||||
Series 2015-CR23, Class C, 4.435% VRN 5/10/48 (d) | 1,000,000 | 1,006,746 | ||||||
Series 2014-LC17, Class C, 4.705% VRN 10/10/47 (d) | 2,908,000 | 2,943,687 | ||||||
Jackson Park Trust, Series 2019-LIC, Class C, | ||||||||
3.131% VRN 10/14/39 (a) (d) | 2,300,000 | 2,374,559 | ||||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | ||||||||
1.952% FRN 5/15/36 (a) | 1,505,000 | 1,488,548 | ||||||
Manhattan West, Series 2020-1MW, Class B, | ||||||||
2.413% VRN 9/10/39 (a) (d) | 2,122,000 | 2,174,247 | ||||||
MFT Trust | ||||||||
Series 2020-ABC, Class A, 3.358% 2/10/42 (a) | 919,000 | 950,507 | ||||||
Series 2020-ABC, Class B, 3.477% VRN 2/10/42 (a) (d) | 1,003,000 | 1,018,731 | ||||||
MKT Mortgage Trust | ||||||||
Series 2020-525M, Class D, 2.941% VRN 2/12/40 (a) (d) | 475,000 | 464,465 | ||||||
Series 2020-525M, Class E, 2.941% VRN 2/12/40 (a) (d) | 976,000 | 911,014 | ||||||
Morgan Stanley Capital I Trust | ||||||||
Series 2019-L2, Class AS, 4.272% 3/15/52 | 1,950,000 | 2,291,275 | ||||||
Series 2018-H3, Class B, 4.620% VRN 7/15/51 (d) | 760,000 | 878,977 | ||||||
Series 2011-C2, Class B, 5.200% VRN 6/15/44 (a) (d) | 1,325,000 | 1,330,081 | ||||||
Wells Fargo Commercial Mortgage Trust | ||||||||
Series 2018-C45, Class AS, 4.405% VRN 6/15/51 (d) | 1,450,000 | 1,701,505 | ||||||
Series 2018-C45, Class B, 4.556% 6/15/51 | 400,000 | 439,686 | ||||||
57,214,596 | ||||||||
Other Asset-Backed Securities — 14.8% | ||||||||
321 Henderson Receivables LLC, Series 2015-1A, Class A | ||||||||
3.260%9/15/72 (a) | 1,863,640 | 1,938,805 | ||||||
522 Funding CLO I Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.250% | ||||||||
2.522% FRN 10/20/31 (a) | 820,000 | 798,516 | ||||||
AASET Trust | ||||||||
Series 2020-1A, Class A, 3.351% 1/16/40 (a) | 1,549,240 | 1,427,493 | ||||||
Series 2019-1, Class A, 3.844% 5/15/39 (a) | 1,683,470 | 1,568,743 | ||||||
Series 2018-2A, Class A, 4.454% 11/18/38 (a) | 1,495,616 | 1,391,025 | ||||||
Adams Outdoor Advertising LP, Series 2018-1, Class A | ||||||||
4.810% 11/15/48 (a) | 1,920,026 | 1,997,748 | ||||||
AGL CLO 7 Ltd., Series 2020-7A, Class A1, 3 mo. USD LIBOR + 1.800% | ||||||||
2.050% FRN 7/15/31 (a) | 375,000 | 375,860 | ||||||
AIMCO CLO, Series 2019-10A, Class C, 3 mo. USD LIBOR + 2.450% | ||||||||
2.708% FRN 7/22/32 (a) | 2,000,000 | 1,963,998 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Allegro CLO X Ltd., Series 2019-1A, Class C, 3 mo. USD LIBOR + 2.750% 3.022% FRN 4/20/32 (a) | $ | 2,200,000 | $ | 2,200,587 | ||||
Anchorage Capital CLO Ltd., Series 2020-15A, Class A, 3 mo. USD LIBOR + 1.850% 2.089% FRN 7/20/31 (a) | 1,500,000 | 1,505,416 | ||||||
Atrium XV, Series 15A, Class B, 3 mo. USD LIBOR + 1.750% 2.006% FRN 1/23/31 (a) | 1,190,000 | 1,175,055 | ||||||
Avery Point VII CLO Ltd., Series 2015-7A, Class DR, 3 mo. USD LIBOR + 3.600% 3.875% FRN 1/15/28 (a) | 1,000,000 | 954,041 | ||||||
Ballyrock CLO Ltd., Series 2019-2A, Class C, 3 mo. USD LIBOR + 4.100% 4.353% FRN 11/20/30 (a) | 400,000 | 399,904 | ||||||
Benefit Street Partners CLO X Ltd., Series 2016-10A, Class CR, 3 mo. USD LIBOR + 3.500% 3.775% FRN 1/15/29 (a) | 500,000 | 470,490 | ||||||
Benefit Street Partners CLO XVIII Ltd., Series 2019-18A, Class B, 3 mo. USD LIBOR + 1.950% 2.225% FRN 10/15/32 (a) | 500,000 | 500,310 | ||||||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A 2.940% 5/25/29 (a) | 499,493 | 501,748 | ||||||
CAL Funding II Ltd., Series 2018-2A, Class A 4.340% 9/25/43 (a) | 1,216,000 | 1,205,816 | ||||||
Canyon Capital CLO Ltd., Series 2019-2A, Class C, 3 mo. USD LIBOR + 2.750% 3.025% FRN 10/15/32 (a) | 250,000 | 247,272 | ||||||
Capital Automotive REIT Series 2014-1A, Class A, 3.660% 10/15/44 (a) | 850,298 | 848,845 | ||||||
Series 2017-1A, Class A2, 4.180% 4/15/47 (a) | 938,608 | 941,552 | ||||||
Carlyle Global Market Strategies CLO Ltd., Series 2015-3A, Class CR, 3 mo. USD LIBOR + 2.850% 3.097% FRN 7/28/28 (a) | 330,000 | 308,274 | ||||||
CARS-DB4 LP Series 2020-1A, Class A3, 3.250% 2/15/50 (a) | 495,699 | 508,473 | ||||||
Series 2020-1A, Class A6, 3.810% 2/15/50 (a) | 398,000 | 412,485 | ||||||
Castlelake Aircraft Securitization Trust, Series 2019-1A, Class A 3.967% 4/15/39 (a) | 1,289,292 | 1,193,185 | ||||||
Castlelake Aircraft Structured Trust, Series 2018-1, Class A 4.125% 6/15/43 (a) | 1,343,348 | 1,254,108 | ||||||
CBAM Ltd. Series 2019-10A, Class B, 3 mo. USD LIBOR + 2.050% 2.322% FRN 4/20/32 (a) | 1,900,000 | 1,902,316 | ||||||
Series 2018-6A, Class B1R, 3 mo. USD LIBOR + 2.100% 2.375% FRN 1/15/31 (a) | 900,000 | 900,474 | ||||||
CF Hippolyta LLC Series 2020-1, Class A1, 1.690% 7/15/60 (a) | 1,200,000 | 1,213,561 | ||||||
Series 2020-1, Class B1, 2.280% 7/15/60 (a) | 547,000 | 556,555 | ||||||
CIFC Funding Ltd. Series 2017-5A, Class A1, 3 mo. USD LIBOR + 1.180% 1.453% FRN 11/16/30 (a) | 2,330,000 | 2,309,547 | ||||||
Series 2020-1A, Class A1, 3 mo. USD LIBOR + 1.700% 1.942% FRN 7/15/32 (a) | 1,000,000 | 1,003,013 | ||||||
Clear Creek CLO Ltd., Series 2015-1A, Class AR, 3 mo. USD LIBOR + 1.200% 1.472% FRN 10/20/30 (a) | 2,040,000 | 2,014,592 | ||||||
Cronos Containers Program Ltd., Series 2014-2A, Class A 3.270% 11/18/29 (a) | 211,111 | 211,445 | ||||||
DB Master Finance LLC, Series 2019-1A, Class A23 4.352% 5/20/49 (a) | 1,542,420 | 1,686,093 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Domino's Pizza Master Issuer LLC Series 2019-1A, Class A2, 3.668% 10/25/49 (a) | $ | 1,091,750 | $ | 1,158,996 | ||||
Series 2017-1A, Class A23, 4.118% 7/25/47 (a) | 758,550 | 809,898 | ||||||
Series 2015-1A, Class A2II, 4.474% 10/25/45 (a) | 2,976,000 | 3,164,523 | ||||||
Dryden 72 CLO Ltd., Series 2019-72A, Class B, 3 mo. USD LIBOR + 1.900% 2.180% FRN 5/15/32 (a) | 1,500,000 | 1,500,460 | ||||||
Eaton Vance CLO Ltd. Series 2018-1A, Class B, 3 mo. USD LIBOR + 1.750% 2.025% FRN 10/15/30 (a) | 1,700,000 | 1,691,638 | ||||||
Series 2019-1A, Class B, 3 mo. USD LIBOR + 1.950% 2.225% FRN 4/15/31 (a) | 1,800,000 | 1,802,558 | ||||||
Series 2020-1A, Class C, 3 mo. USD LIBOR + 2.800% 3.050% FRN 10/15/30 (a) | 350,000 | 350,172 | ||||||
Elmwood CLO Ltd., Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.450% 1.722% FRN 4/20/31 (a) | 2,900,000 | 2,901,122 | ||||||
Elmwood CLO Ltd., Series 2019-3A, Class B, 3 mo. USD LIBOR + 1.950% 2.225% FRN 10/15/32 (a) | 350,000 | 350,764 | ||||||
FCI Funding LLC, Series 2019-1A, Class A 3.630% 2/18/31 (a) | 310,031 | 315,447 | ||||||
Flatiron CLO Ltd. Series 2019-1A, Class B, 3 mo. USD LIBOR + 1.900% 2.180% FRN 11/16/32 (a) | 350,000 | 350,076 | ||||||
Series 2019-1A, Class C, 3 mo. USD LIBOR + 2.700% 2.980% FRN 11/16/32 (a) | 250,000 | 246,273 | ||||||
Global SC Finance SRL, Series 2014-1A, Class A1 3.190% 7/17/29 (a) | 191,667 | 190,663 | ||||||
Goodgreen Trust Series 2019-2A, Class A, 2.760% 10/15/54 (a) | 2,786,653 | 2,824,164 | ||||||
Series 2016-1A, Class A, 3.230% 10/15/52 (a) | 1,597,423 | 1,660,471 | ||||||
Series 2017-1A, Class A, 3.740% 10/15/52 (a) | 760,272 | 801,850 | ||||||
Series 2019-1A, Class A, 3.860% 10/15/54 (a) | 1,326,099 | 1,404,292 | ||||||
Harbor Park CLO Ltd., Series 2018-1A, Class B1, 3 mo. USD LIBOR + 1.700% 1.972% FRN 1/20/31 (a) | 1,290,000 | 1,285,940 | ||||||
Helios Issuer LLC, Series 2017-1A, Class A 4.940% 9/20/49 (a) | 1,478,654 | 1,574,039 | ||||||
Hero Funding Trust Series 2016-3A, Class A1, 3.080% 9/20/42 (a) | 830,271 | 841,898 | ||||||
Series 2017-3A, Class A1, 3.190% 9/20/48 (a) | 867,780 | 894,322 | ||||||
Series 2017-2A, Class A1, 3.280% 9/20/48 (a) | 256,114 | 264,979 | ||||||
Series 2016-4A, Class A1, 3.570% 9/20/47 (a) | 1,028,352 | 1,070,086 | ||||||
Series 2017-2A, Class A2, 4.070% 9/20/48 (a) | 205,895 | 217,483 | ||||||
Series 2018-1A, Class A2, 4.670% 9/20/48 (a) | 1,554,656 | 1,668,248 | ||||||
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A 4.458% 12/15/38 (a) | 940,892 | 888,848 | ||||||
Horizon Aircraft Finance Ltd. Series 2019-2, Class A, 3.425% 11/15/39 (a) | 2,335,647 | 2,141,404 | ||||||
Series 2019-1, Class A, 3.721% 7/15/39 (a) | 1,317,248 | 1,229,905 | ||||||
ICG US CLO Ltd., Series 2019-1A, Class A1A, 3 mo. USD LIBOR + 1.380% 1.625% FRN 10/26/32 (a) | 750,000 | 744,523 | ||||||
J.G. Wentworth LLC, Series 2018-2A, Class A 3.960% 10/15/75 (a) | 1,380,609 | 1,412,461 | ||||||
KREF Ltd., Series 2018-FL1, Class C, 1 mo. USD LIBOR + 2.000% 2.151% FRN 6/15/36 (a) | 1,670,000 | 1,621,078 | ||||||
Labrador Aviation Finance Ltd., Series 2016-1A, Class A1 4.300% 1/15/42 (a) | 2,173,750 | 1,921,755 | ||||||
Lunar Aircraft Ltd., Series 2020-1A, Class A 3.376% 2/15/45 (a) | 957,745 | 887,223 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
MACH 1 Cayman Ltd., Series 2019-1, Class A 3.474% 10/15/39 (a) | $ | 2,057,302 | $ | 1,871,253 | ||||
Madison Park Funding Ltd. Series 2018-28A, Class B, 3 mo. USD LIBOR + 1.600% 1.875% FRN 7/15/30 (a) | 1,665,000 | 1,635,798 | ||||||
Series 2018-29A, Class C, 3 mo. USD LIBOR + 2.200% 2.472% FRN 10/18/30 (a) | 620,000 | 603,639 | ||||||
Magnetite XXVI Ltd., Series 2020-26A, Class A, 3 mo. USD LIBOR + 1.750% 1.949% FRN 7/15/30 (a) | 1,500,000 | 1,504,158 | ||||||
Magnetite XXVII Ltd., Series 2020-27A, Class C, 3 mo. USD LIBOR + 2.650% 2.899% FRN 7/20/33 (a) | 450,000 | 450,347 | ||||||
Mosaic Solar Loans LLC Series 2018-1A, Class A, 4.010% 6/22/43 (a) | 289,230 | 305,469 | ||||||
Series 2017-1A, Class A, 4.450% 6/20/42 (a) | 300,650 | 322,721 | ||||||
MP CLO III Ltd., Series 2013-1A, Class AR, 3 mo. USD LIBOR + 1.250% 1.522% FRN 10/20/30 (a) | 1,750,000 | 1,728,573 | ||||||
MVW Owner Trust, Series 2017-1A, Class A 2.420% 12/20/34 (a) | 167,577 | 170,849 | ||||||
NP SPE LLC, Series 2017-1A, Class A2 4.219% 10/21/47 (a) | 2,260,000 | 2,322,812 | ||||||
OCP CLO 2018-15 Ltd., Series 2018-15A, Class A1, 1.372% FRN 7/20/31 (a) (d) | 250,000 | 246,454 | ||||||
OHA Credit Funding Ltd. Series 2019-4A, Class A1, 3 mo. USD LIBOR + 1.330% 1.588% FRN 10/22/32 (a) | 1,000,000 | 994,220 | ||||||
Series 2019-4A, Class C, 3 mo. USD LIBOR + 2.650% 2.908% FRN 10/22/32 (a) | 500,000 | 498,885 | ||||||
OneMain Financial Issuance Trust Series 2020-2A, Class B, 2.210% 9/14/35 (a) | 396,000 | 394,918 | ||||||
Series 2019-2A, Class A, 3.140% 10/14/36 (a) | 8,400,000 | 8,951,852 | ||||||
Oxford Finance Funding Trust Series 2020-1A, Class A2, 3.101% 2/15/28 (a) | 1,536,000 | 1,557,957 | ||||||
Series 2016-1A, Class A, 3.968% 6/17/24 (a) | 171,050 | 171,116 | ||||||
Pioneer Aircraft Finance Ltd., Series 2019-1, Class A 3.967% 6/15/44 (a) | 1,529,217 | 1,415,274 | ||||||
Planet Fitness Master Issuer LLC, Series 2019-1A, Class A2 3.858% 12/05/49 (a) | 2,304,585 | 2,167,534 | ||||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% 2.998% FRN 2/25/23 (a) | 1,270,000 | 1,239,538 | ||||||
Rockford Tower CLO Ltd., Series 2019-1A, Class B1, 3 mo. USD LIBOR + 2.050% 2.322% FRN 4/20/32 (a) | 1,500,000 | 1,500,074 | ||||||
RR 3 Ltd., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090% 1.365% FRN 1/15/30 (a) | 2,450,000 | 2,424,339 | ||||||
Sierra Receivables Funding LLC Series 2020-2A, Class B, 2.320% 7/20/37 (a) | 975,489 | 974,678 | ||||||
Series 2015-3A, Class B, 3.080% 9/20/32 (a) | 71,041 | 70,975 | ||||||
Series 2018-3A, Class D, 5.200% 9/20/35 (a) | 737,935 | 712,690 | ||||||
Stack Infrastructure Issuer LLC, Series 2020-1A, Class A2 1.893% 8/25/45 (a) | 874,000 | 879,827 | ||||||
Steele Creek CLO Ltd., Series 2018-2A, Class C, 3 mo. USD LIBOR + 2.300% 2.570% FRN 8/18/31 (a) | 1,170,000 | 1,092,769 | ||||||
Store Master Funding I-VII Series 2019-1, Class A2, 3.650% 11/20/49 (a) | 2,866,967 | 2,908,508 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Series 2018-1A, Class A2, 4.290% 10/20/48 (a) | $ | 1,296,539 | $ | 1,373,002 | ||||
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + .800% 0.948% FRN 11/25/35 (a) | 3,295,874 | 3,139,579 | ||||||
Structured Receivables Finance LLC, Series 2010-B, Class A 3.730% 8/15/36 (a) | 144,382 | 151,428 | ||||||
Sunnova Helios II Issuer LLC, Series 2018-1A, Class A 4.870% 7/20/48 (a) | 439,146 | 472,517 | ||||||
SuttonPark Structured Settlements LLC, Series 2017-1A, Class A 4.190% 1/15/71 (a) | 1,925,081 | 2,227,328 | ||||||
Taco Bell Funding LLC, Series 2018-1A, Class A2II 4.940% 11/25/48 (a) | 1,120,050 | 1,195,773 | ||||||
TAL Advantage VII LLC, Series 2020-1A, Class A 2.050% 9/20/45 (a) | 4,500,000 | 4,508,041 | ||||||
Textainer Marine Containers VII Ltd., Series 2019-1A, Class A 3.960% 4/20/44 (a) | 485,893 | 485,893 | ||||||
Tif Funding II LLC, Series 2020-1A, Class A 2.090% 8/20/45 (a) | 641,963 | 640,908 | ||||||
Trinity Rail Leasing LP Series 2019-2A, Class A2, 3.100% 10/18/49 (a) | 3,289,000 | 3,207,850 | ||||||
Series 2018-1A, Class A2, 4.620% 6/17/48 (a) | 2,420,000 | 2,459,775 | ||||||
Trip Rail Master Funding LLC, Series 2017-1A, Class A1 2.709% 8/15/47 (a) | 174,097 | 174,252 | ||||||
Triton Container Finance VIII LLC, Series 2020-1A, Class A 2.110% 9/20/45 (a) | 3,150,000 | 3,154,052 | ||||||
Vantage Data Centers LLC, Series 2020-2A, Class A2 1.992% 9/15/45 (a) (c) | 1,301,000 | 1,301,596 | ||||||
Vivint Solar Financing V LLC, Series 2018-1A, Class B 7.370% 4/30/48 (a) | 2,621,999 | 2,661,135 | ||||||
WAVE LLC Series 2019-1A, Class A, 3.597% 9/15/44 (a) | 3,861,264 | 3,581,593 | ||||||
Series 2017-1A, Class C, 6.656% 11/15/42 (a) | 1,843,383 | 770,634 | ||||||
WAVE Trust, Series 2017-1A, Class A 3.844% 11/15/42 (a) | 3,119,083 | 2,822,296 | ||||||
Willis Engine Structured Trust IV, Series 2018-A, Class A, 4.750% STEP 9/15/43 (a) | 1,171,900 | 988,429 | ||||||
Wind River CLO Ltd. Series 2018-2A, Class B, 3 mo. USD LIBOR + 1.750% 2.025% FRN 7/15/30 (a) | 1,150,000 | 1,132,864 | ||||||
Series 2016-2A, Class BR, 3 mo. USD LIBOR + 1.800% 2.051% FRN 11/01/31 (a) | 900,000 | 889,574 | ||||||
154,530,650 | ||||||||
Student Loans Asset-Backed Securities — 9.0% | ||||||||
Chase Education Loan Trust, Series 2007-A, Class A4, 3 mo. USD LIBOR + .100% 0.333% FRN 6/28/39 | 5,411,817 | 5,145,033 | ||||||
College Avenue Student Loans LLC Series 2019-A, Class B, 3.810% 12/28/48 (a) | 2,244,000 | 2,222,161 | ||||||
Series 2019-A, Class C, 4.460% 12/28/48 (a) | 1,281,000 | 1,267,952 | ||||||
College Loan Corp. Trust I, Series 2007-1, Class B2, 28 day ARS FRN 1/25/47 | 900,000 | 716,499 | ||||||
ECMC Group Student Loan Trust Series 2018-2A, Class A, 1 mo. USD LIBOR + .800% 0.948% FRN 9/25/68 (a) | 1,998,397 | 1,960,808 | ||||||
Series 2017-1A, Class A, 1 mo. USD LIBOR + 1.200% 1.348% FRN 12/27/66 (a) | 2,142,787 | 2,130,925 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150% 3.600% FRN 12/01/47 (a) | $ | 1,840,217 | $ | 1,818,476 | ||||
Education Services of America Series 2014-4, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/48 (a) | 1,200,000 | 1,160,393 | ||||||
Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 10/25/56 (a) | 1,100,000 | 1,060,027 | ||||||
Educational Funding of the South, Inc., Series 2011-1, Class B, 3 mo. USD LIBOR + 3.700% 3.945% FRN 4/25/46 | 625,000 | 596,975 | ||||||
EDvestinU Private Education Loan Issue No 1 LLC, Series 2019-A, Class A, 3.580% VRN 11/25/38 (a) (d) | 1,338,821 | 1,420,627 | ||||||
Higher Education Funding I Series 2004-1, Class B2, 28 day ARS 0.000%FRN 1/01/44 (a) | 450,000 | 393,099 | ||||||
Series 2004-1, Class B1, 28 day ARS 1.796% FRN 1/01/44 (a) | 450,000 | 399,331 | ||||||
Laurel Road Prime Student Loan Trust, Series 2017-B, Class BFX 3.020% 8/25/42 (a) | 547,785 | 553,579 | ||||||
Navient Private Education Refi Loan Trust Series 2019-CA, Class B, 3.670% 2/15/68 (a) | 2,249,000 | 2,310,289 | ||||||
Series 2019-A, Class B, 3.900% 1/15/43 (a) | 1,190,000 | 1,213,879 | ||||||
Series 2018-CA, Class B, 4.220% 6/16/42 (a) | 1,530,000 | 1,547,367 | ||||||
Navient Student Loan Trust Series 2018-3A, Class A3, 1 mo. USD LIBOR + .800% 0.948% FRN 3/25/67 (a) | 4,700,000 | 4,653,552 | ||||||
Series 2019-1A, Class A2, 1 mo. USD LIBOR + .900% 1.048% FRN 12/27/67 (a) | 4,530,000 | 4,517,987 | ||||||
Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150% 1.298% FRN 3/25/66 (a) | 1,724,855 | 1,724,855 | ||||||
Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250% 1.398% FRN 6/25/65 (a) | 3,117,011 | 3,117,010 | ||||||
Series 2016-6A, Class A3, 1 mo. USD LIBOR + 1.300% 1.448% FRN 3/25/66 (a) | 7,050,000 | 7,111,640 | ||||||
Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 10/25/58 | 940,000 | 847,173 | ||||||
Series 2016-2, Class A3, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/65 (a) | 2,370,000 | 2,353,231 | ||||||
Series 2019-BA, Class B, 4.040% 12/15/59 (a) | 2,950,000 | 3,077,619 | ||||||
Nelnet Private Education Loan Trust, Series 2016-A, Class A1B 3.600% 12/26/40 (a) | 358,059 | 359,898 | ||||||
Nelnet Student Loan Trust Series 2006-3, Class B, 3 mo. USD LIBOR + .250% 0.475% FRN 6/25/41 | 564,505 | 488,373 | ||||||
Series 2019-2A, Class A, 1 mo. USD LIBOR + .900% 1.075% FRN 6/27/67 (a) | 1,617,440 | 1,600,655 | ||||||
Series 2019-1A, Class B, 1 mo. USD LIBOR + 1.400% 1.548% FRN 4/25/67 (a) | 3,250,000 | 3,066,017 | ||||||
Series 2005-4, Class A4A, 7 day ARS 1.929% FRN 3/22/32 | 315,057 | 302,450 | ||||||
Series 2019-5, Class B, 3.450% 10/25/67 (a) | 2,150,000 | 2,047,263 | ||||||
SLC Student Loan Trust, Series 2007-1, Class A5, 3 mo. USD LIBOR + .090% 0.370% FRN 2/15/68 | 4,000,000 | 3,542,900 | ||||||
SLM Student Loan Trust Series 2006-2, Class R, 0.000% 1/25/41 | 7,308 | 4,401,722 | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.455% FRN 10/25/40 | 1,859,707 | 1,662,654 | ||||||
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.535% FRN 1/25/44 | 1,933,416 | 1,722,662 | ||||||
Series 2003-14, Class A7, 3 mo. USD LIBOR + .600% 0.845% FRN 10/25/65 (a) | 4,300,000 | 4,200,583 | ||||||
SoFi Alternative Trust, Series 2019-C, Class PT, 4.861% VRN 1/25/45 (a) (d) | 5,045,961 | 5,424,408 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
SoFi Professional Loan Program LLC | ||||||||
Series 2017-D, Class R1, 0.000% 9/25/40 (a) | $ | 4,688,500 | $ | 1,617,626 | ||||
Series 2018-A, Class R1, 0.000% 2/25/42 (a) | 3,759,800 | 1,554,459 | ||||||
Series 2018-B, Class R1, 0.000% 8/26/47 (a) | 3,324,300 | 1,227,664 | ||||||
Series 2018-D, Class R1, 0.000% 2/25/48 (a) | 4,961,600 | 1,097,010 | ||||||
Series 2019-A, Class R1, 0.000% 6/15/48 (a) | 6,724,700 | 1,593,081 | ||||||
Series 2017-C, Class C, 4.210% VRN 7/25/40 (a) (d) | 990,000 | 1,003,872 | ||||||
South Carolina Student Loan Corp., Series 2014-1, Class B, 1 mo. USD LIBOR + 1.500% 1.655% FRN 8/01/35 | 3,050,000 | 2,927,219 | ||||||
93,161,003 | ||||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 0.5% | ||||||||
Bank of America Mortgage Securities, Series 2004-G, Class 2A7, 3.091% VRN 8/25/34 (d) | 18,209 | 17,806 | ||||||
Countrywide Home Loans, Inc. Series 2004-2, Class 1A1, 3.666% VRN 2/25/34 (d) | 14,677 | 14,170 | ||||||
Series 2003-42, Class 1A1, 3.991% VRN 9/25/33 (d) | 3,871 | 3,713 | ||||||
Deephaven Residential Mortgage Trust, Series 2019-1A, Class A3, 3.948% VRN 1/25/59 (a) (d) | 540,208 | 546,141 | ||||||
GSR Mortgage Loan Trust, Series 2004-9, Class 2A1, 3.490% VRN 8/25/34 (d) | 5,542 | 5,595 | ||||||
IndyMac Index Mortgage Loan Trust, Series 2004-AR4, Class 1A, 3.165% VRN 8/25/34 (d) | 34,625 | 34,524 | ||||||
JP Morgan Mortgage Trust, Series 2017-1, Class A11, 3.500% VRN 1/25/47 (a) (d) | 1,946,788 | 1,984,555 | ||||||
Merrill Lynch Mortgage Investors, Inc. Series 2003-A4, Class IA, 3.032% VRN 7/25/33 (d) | 1,857 | 1,770 | ||||||
Series 2004-A1, Class IA, 3.250% VRN 2/25/34 (d) | 1,888 | 1,864 | ||||||
PSMC Trust, Series 2018-2, Class A1, 3.500% VRN 6/25/48 (a) (d) | 1,687,735 | 1,717,781 | ||||||
Sequoia Mortgage Trust, Series 2019-1, Class A1, 4.000% VRN 2/25/49 (a) (d) | 208,150 | 212,154 | ||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-2, Class 2A, 2.970% VRN 3/25/34 (d) | 15,461 | 15,346 | ||||||
Washington Mutual Mortgage Pass-Through Certificates, Series 2004-AR2, Class A, 12 mo. MTA + 1.400% 2.419% FRN 4/25/44 | 45,680 | 43,688 | ||||||
Wells Fargo Mortgage Backed Securities Trust, Series 2019-1, Class A1, 4.000% VRN 11/25/48 (a) (d) | 875,326 | 893,747 | ||||||
5,492,854 | ||||||||
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $329,645,284) | 324,337,195 | |||||||
Sovereign Debt Obligations — 0.7% | ||||||||
Colombia Government International Bond 6.125% 1/18/41 | 2,080,000 | 2,667,600 | ||||||
Mexico Government International Bond 4.750% 3/08/44 | 3,727,000 | 4,064,294 | ||||||
6.750% 9/27/34 | 685,000 | 918,585 | ||||||
7,650,479 | ||||||||
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $6,705,365) | 7,650,479 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal | Value | |||||||
U.S. Government Agency Obligations and Instrumentalities — 22.9% | ||||||||
Collateralized Mortgage Obligations — 0.3% | ||||||||
Federal Home Loan Mortgage Corp. Series 2617, Class Z, 5.500% 5/15/33 | $ | 847,821 | $ | 980,498 | ||||
Series 2693, Class Z, 5.500% 10/15/33 | 1,533,885 | 1,741,651 | ||||||
Series 2178, Class PB, 7.000% 8/15/29 | 32,207 | 36,556 | ||||||
2,758,705 | ||||||||
Pass-Through Securities — 22.2% | ||||||||
Federal Home Loan Mortgage Corp. Pool #J13972 3.500% 1/01/26 | 28,159 | 29,899 | ||||||
Pool #C91344 3.500% 11/01/30 | 89,415 | 96,158 | ||||||
Pool #C91424 3.500% 1/01/32 | 59,321 | 63,980 | ||||||
Pool #RA2483 3.500% 6/01/50 | 10,178,837 | 10,841,234 | ||||||
Pool #C91239 4.500% 3/01/29 | 4,349 | 4,801 | ||||||
Pool #C91251 4.500% 6/01/29 | 28,858 | 31,858 | ||||||
Pool #G05253 5.000% 2/01/39 | 149,993 | 172,757 | ||||||
Pool #C90939 5.500% 12/01/25 | 15,172 | 16,880 | ||||||
Pool #D97258 5.500% 4/01/27 | 10,355 | 11,537 | ||||||
Pool #C91026 5.500% 4/01/27 | 25,449 | 28,353 | ||||||
Pool #C91074 5.500% 8/01/27 | 2,669 | 2,976 | ||||||
Pool #D97417 5.500% 10/01/27 | 9,444 | 10,527 | ||||||
Pool #C91128 5.500% 12/01/27 | 1,393 | 1,553 | ||||||
Pool #C91148 5.500% 1/01/28 | 62,580 | 69,761 | ||||||
Pool #C91176 5.500% 5/01/28 | 21,622 | 24,123 | ||||||
Pool #C91217 5.500% 11/01/28 | 8,621 | 9,618 | ||||||
Pool #C01079 7.500% 10/01/30 | 1,037 | 1,217 | ||||||
Pool #C01135 7.500% 2/01/31 | 4,129 | 4,816 | ||||||
Federal National Mortgage Association Pool #775539 12 mo. USD LIBOR + 1.641% 2.516% FRN 5/01/34 | 13,871 | 14,441 | ||||||
Pool #MA3029 3.000% 6/01/32 | 2,861,431 | 3,016,131 | ||||||
Pool #MA3090 3.000% 8/01/32 | 1,222,188 | 1,288,264 | ||||||
Pool #AO8180 3.000% 9/01/42 | 23,907 | 25,461 | ||||||
Pool #AP8668 3.000% 12/01/42 | 148,155 | 157,786 | ||||||
Pool #AR1975 3.000% 12/01/42 | 34,313 | 36,544 | ||||||
Pool #AB7397 3.000% 12/01/42 | 133,764 | 142,460 | ||||||
Pool #AB7401 3.000% 12/01/42 | 119,663 | 127,442 | ||||||
Pool #AR0306 3.000% 1/01/43 | 8,702 | 9,268 | ||||||
Pool #AR5391 3.000% 1/01/43 | 69,072 | 73,562 | ||||||
Pool #AL3215 3.000% 2/01/43 | 109,340 | 116,449 | ||||||
Pool #AR4109 3.000% 2/01/43 | 107,613 | 114,609 | ||||||
Pool #AT0169 3.000% 3/01/43 | 211,307 | 225,044 | ||||||
Pool #AB8809 3.000% 3/01/43 | 58,095 | 61,872 | ||||||
Pool #MA1368 3.000% 3/01/43 | 207,899 | 221,415 | ||||||
Pool #AR4432 3.000% 3/01/43 | 46,644 | 49,677 | ||||||
Pool #AR2174 3.000% 4/01/43 | 213,057 | 226,907 | ||||||
Pool #725692 1 year CMT + 2.137% 3.138% FRN 10/01/33 | 60,615 | 63,492 | ||||||
Pool #888586 1 year CMT + 2.196% 3.326% FRN 10/01/34 | 76,517 | 80,631 | ||||||
Pool #AS1304 3.500% 12/01/28 | 968,818 | 1,041,756 | ||||||
Pool #AV1897 3.500% 12/01/28 | 180,129 | 193,690 | ||||||
Pool #AV2325 3.500% 12/01/28 | 503,572 | 541,483 | ||||||
Pool #MA1356 3.500% 2/01/43 | 7,774,599 | 8,438,460 | ||||||
Pool #CA6096 3.500% 6/01/50 | 9,323,238 | 10,020,276 | ||||||
Pool #FM4017 3.500% 8/01/50 | 898,668 | 951,813 | ||||||
Pool #AA3980 4.500% 4/01/28 | 50,116 | 54,342 | ||||||
Pool #CA1909 4.500% 6/01/48 | 5,554,063 | 6,013,807 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Pool #AD6437 5.000% 6/01/40 | $ | 360,572 | $ | 413,277 | ||||
Pool #AD6996 5.000% 7/01/40 | 2,340,446 | 2,682,554 | ||||||
Pool #AL8173 5.000% 2/01/44 | 964,119 | 1,096,911 | ||||||
Pool #AD0836 5.500% 11/01/28 | 49,796 | 55,498 | ||||||
Pool #575667 7.000% 3/01/31 | 6,997 | 8,302 | ||||||
Pool #529453 7.500% 1/01/30 | 2,322 | 2,726 | ||||||
Pool #535996 7.500% 6/01/31 | 3,756 | 4,402 | ||||||
Pool #252926 8.000% 12/01/29 | 82 | 95 | ||||||
Pool #532819 8.000% 3/01/30 | 112 | 130 | ||||||
Pool #534703 8.000% 5/01/30 | 2,382 | 2,775 | ||||||
Pool #253437 8.000% 9/01/30 | 99 | 116 | ||||||
Pool #253481 8.000% 10/01/30 | 58 | 68 | ||||||
Pool #190317 8.000% 8/01/31 | 2,326 | 2,722 | ||||||
Pool #602008 8.000% 8/01/31 | 3,299 | 3,857 | ||||||
Pool #597220 8.000% 9/01/31 | 2,834 | 3,343 | ||||||
Government National Mortgage Association Pool #371146 7.000% 9/15/23 | 50 | 52 | ||||||
Pool #374440 7.000% 11/15/23 | 186 | 197 | ||||||
Pool #352022 7.000% 11/15/23 | 2,224 | 2,355 | ||||||
Pool #491089 7.000% 12/15/28 | 6,398 | 6,976 | ||||||
Pool #480539 7.000% 4/15/29 | 212 | 239 | ||||||
Pool #488634 7.000% 5/15/29 | 1,927 | 2,191 | ||||||
Pool #500928 7.000% 5/15/29 | 3,074 | 3,530 | ||||||
Pool #499410 7.000% 7/15/29 | 1,104 | 1,272 | ||||||
Pool #510083 7.000% 7/15/29 | 756 | 862 | ||||||
Pool #493723 7.000% 8/15/29 | 2,245 | 2,588 | ||||||
Pool #581417 7.000% 7/15/32 | 4,417 | 5,032 | ||||||
Government National Mortgage Association II Pool# MA6656 3.000% 5/20/50 | 9,698,561 | 10,177,931 | ||||||
Pool# MA6710 3.000% 6/20/50 | 9,758,808 | 10,262,504 | ||||||
Pool #008746 1 year CMT + 1.500% 3.125% FRN 11/20/25 | 2,648 | 2,702 | ||||||
Pool #080136 1 year CMT + 1.500% 3.125% FRN 11/20/27 | 584 | 598 | ||||||
Pool #MA4321 3.500% 3/20/47 | 6,803,968 | 7,278,338 | ||||||
Government National Mortgage Association II TBA Pool #548 3.000% 8/01/49 (c) | 1,975,000 | 2,067,732 | ||||||
Pool #1635 3.500% 6/01/49 (c) | 58,720,000 | 61,839,500 | ||||||
Uniform Mortgage Backed Securities TBA Pool #505 2.000% 5/01/35 (c) | 43,225,000 | 44,933,736 | ||||||
Pool #1082 2.000% 4/01/50 (c) | 15,025,000 | 15,536,789 | ||||||
Pool #17115 3.500% 4/01/49 (c) | 28,200,000 | 29,728,970 | ||||||
230,860,000 | ||||||||
Whole Loans — 0.4% | ||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2016-HQA3, Class M2, 1 mo. USD LIBOR + 1.350% 1.498% FRN 3/25/29 | 64,131 | 64,029 | ||||||
Series 2020-DNA3, Class M1, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/50 (a) | 2,630,000 | 2,634,425 | ||||||
Series 2020-DNA3, Class M2, 1 mo. USD LIBOR + 3.000% 3.148% FRN 6/25/50 (a) | 1,908,000 | 1,913,328 | ||||||
4,611,782 | ||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $236,992,192) | 238,230,487 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
U.S. Treasury Obligations — 3.3% | ||||||||
U.S. Treasury Bonds & Notes — 3.3% | ||||||||
U.S. Treasury Bond 2.250% 8/15/49 (e) | $ | 9,800,000 | $ | 11,683,417 | ||||
3.500% 2/15/39 (e) | 7,000,000 | 9,834,446 | ||||||
U.S. Treasury Note 0.375% 4/30/25 | 12,300,000 | 12,373,206 | ||||||
33,891,069 | ||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $32,262,520) | 33,891,069 | |||||||
TOTAL BONDS & NOTES (Cost $1,003,609,518) | 1,025,217,536 | |||||||
TOTAL PURCHASED OPTIONS (#) — 0.2% (Cost $2,989,580) | 2,018,451 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $1,008,974,098) | 1,029,703,137 | |||||||
Short-Term Investments — 15.7% | ||||||||
Commercial Paper — 15.7% | ||||||||
American Honda Finance Corp. 0.315% 11/19/20 | 11,000,000 | 10,996,074 | ||||||
Avangrid, Inc. 0.223% 12/07/20 | 1,000,000 | 999,594 | ||||||
0.233% 12/07/20 | 10,000,000 | 9,995,939 | ||||||
BAT International Finance 0.233% 10/14/20 (a) | 3,000,000 | 2,999,482 | ||||||
Bemis Co., Inc. 0.142% 10/05/20 (a) | 2,000,000 | 1,999,961 | ||||||
0.183% 10/21/20 (a) | 9,000,000 | 8,999,034 | ||||||
Dominion Resources, Inc. 0.203% 10/13/20 | 11,000,000 | 10,999,305 | ||||||
Duke Energy Corp. 0.223% 10/02/20 (a) | 4,000,000 | 3,999,980 | ||||||
Enbridge (US), Inc. 0.203% 10/20/20 (a) | 7,000,000 | 6,999,288 | ||||||
FMC Tech, Inc. 0.254% 10/15/20 (a) | 6,000,000 | 5,999,550 | ||||||
Harley-Davidson Funding Corp. 0.203% 10/19/20 (a) | 2,000,000 | 1,999,779 | ||||||
0.203% 10/20/20 (a) | 1,000,000 | 999,891 | ||||||
0.254% 10/08/20 (a) | 1,000,000 | 999,962 | ||||||
0.304% 10/19/20 (a) | 6,000,000 | 5,999,338 | ||||||
Intercontinental Exchange, Inc. 0.376% 12/03/20 (a) (f) | 10,000,000 | 9,993,370 | ||||||
Keurig Dr Pepper, Inc. 0.193% 10/13/20 (a) | 1,000,000 | 999,937 | ||||||
LyondellBasell Industries NV 0.162% 10/28/20 (a) | 11,000,000 | 10,998,383 | ||||||
Macquarie Bank Ltd. 0.188% 12/17/20 (a) | 4,000,000 | 3,998,319 |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
NRW Bank 0.162% 10/15/20 (a) | $ | 5,000,000 | $ | 4,999,813 | ||||
0.172% 11/02/20 (a) | 3,000,000 | 2,999,670 | ||||||
0.183% 12/08/20 (a) | 5,000,000 | 4,998,534 | ||||||
Nutrien Ltd. 0.213% 12/22/20 (a) | 1,000,000 | 999,481 | ||||||
0.223% 12/24/20 (a) | 9,000,000 | 8,995,176 | ||||||
Parker-Hannifin Corp. 0.152% 11/13/20 (a) | 6,000,000 | 5,998,423 | ||||||
Schlumberger Holdings Corp. 0.254% 1/11/21 (a) | 1,000,000 | 999,671 | ||||||
0.406% 12/09/20 (a) | 10,000,000 | 9,998,444 | ||||||
Spire, Inc. 0.183% 10/13/20 (a) | 11,500,000 | 11,499,273 | ||||||
Suncor Energy, Inc. 0.223% 11/23/20 (a) | 1,000,000 | 999,691 | ||||||
0.254% 12/07/20 (a) | 11,000,000 | 10,995,533 | ||||||
163,460,895 | ||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $163,453,568) | 163,460,895 | |||||||
TOTAL INVESTMENTS — 114.5% (Cost $1,172,427,666) (g) | 1,193,164,032 | |||||||
Other Assets/(Liabilities) — (14.5)% | (151,242,426 | ) | ||||||
NET ASSETS — 100.0% | $ | 1,041,921,606 |
Abbreviation Legend
ARS | Auction Rate Security |
BAB | Build America Bonds |
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 September 30, 2020, the aggregate market value of these securities amounted to $521,180,007 or 50.02% of net assets. |
(b) | Security is perpetual and has no stated maturity date. |
(c) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(d) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at September 30, 2020. |
(e) | A portion of this security is pledged/held as collateral for open derivatives. |
(f) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2020, these securities amounted to a value of $9,993,370 or 0.96% of net assets. |
(g) | See Note 3 for aggregate cost for federal tax purposes. |
MML Managed Bond Fund — Portfolio of Investments (Continued) |
(#) Interest Rate Swaptions Purchased
Paid by Fund | Received by Fund | ||||||||||||||||||||||||||||
Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional
Amount | Value | Premium Paid (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||||
Call | |||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 3-Month USD LIBOR BBA | Quarterly | 2.44% | Semi-Annually | USD | 3,700,000 | $ | 469,530 | $ | 184,971 | $ | 284,559 | |||||||||||||||
Put | |||||||||||||||||||||||||||||
10-Year Interest Rate Swap, 12/15/42 | Barclays Bank PLC | 12/13/32 | 2.94% | Semi-Annually | 3-Month
USD LIBOR BBA | Quarterly | USD | 56,100,000 | $ | 1,548,921 | $ | 2,804,609 | $ | (1,255,688 | ) | ||||||||||||||
$ | 2,018,451 | $ | 2,989,580 | $ | (971,129 | ) |
Futures contracts | ||||||||||||||
Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation/ (Depreciation) | |||||||||||
Long | ||||||||||||||
U.S. Treasury Long Bond | 12/21/20 | 113 | $ | 19,931,978 | $ | (12,197 | ) | |||||||
U.S. Treasury Ultra Bond | 12/21/20 | 256 | 57,513,893 | (729,893 | ) | |||||||||
U.S. Treasury Note 2 Year | 12/31/20 | 705 | 155,717,919 | 59,542 | ||||||||||
U.S. Treasury Note 5 Year | 12/31/20 | 315 | 39,675,488 | 24,356 | ||||||||||
$ | (658,192 | ) | ||||||||||||
Short | ||||||||||||||
90 Day Eurodollar | 12/14/20 | 10 | $ | (2,437,842 | ) | $ | (56,033 | ) | ||||||
U.S. Treasury Ultra 10 Year | 12/21/20 | 72 | (11,484,687 | ) | (29,688 | ) | ||||||||
90 Day Eurodollar | 3/15/21 | 9 | (2,194,846 | ) | (50,767 | ) | ||||||||
90 Day Eurodollar | 9/13/21 | 17 | (4,146,456 | ) | (95,469 | ) | ||||||||
90 Day Eurodollar | 3/14/22 | 15 | (3,657,513 | ) | (84,237 | ) | ||||||||
90 Day Eurodollar | 9/19/22 | 14 | (3,412,278 | ) | (79,322 | ) | ||||||||
90 Day Eurodollar | 3/13/23 | 12 | (2,923,010 | ) | (68,590 | ) | ||||||||
90 Day Eurodollar | 12/18/23 | 15 | (3,650,388 | ) | (84,987 | ) | ||||||||
90 Day Eurodollar | 12/16/24 | 40 | (9,722,367 | ) | (219,133 | ) | ||||||||
$ | (768,226 | ) |
Centrally Cleared Credit Default Swaps - Buy Protection | |||||||||||||||||||||||
Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 4,000,000 | $ | (83,364 | ) | $ | (98,006 | ) | $ | 14,642 | ||||||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 5,000,000 | (104,205 | ) | (119,481 | ) | 15,276 | |||||||||||||
$ | (187,569 | ) | $ | (217,487 | ) | $ | 29,918 |
† | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
Currency Legend
USD U.S. Dollar
MML Short-Duration Bond Fund — Portfolio of Investments |
September 30, 2020 (Unaudited)
Principal
Amount |
Value | ||||||
Bonds & Notes — 92.3% | |||||||
Corporate Debt — 39.0% | |||||||
Agriculture — 1.5% | |||||||
BAT Capital Corp. | |||||||
3.222% 8/15/24 | $ | 415,000 | $ | 444,016 | |||
Bunge Ltd. Finance Corp. | |||||||
1.630% 8/17/25 | 140,000 | 140,612 | |||||
3.500% 11/24/20 | 930,000 | 934,071 | |||||
Imperial Brands Finance PLC | |||||||
3.125% 7/26/24 (a) | 400,000 | 422,989 | |||||
3.500% 2/11/23 (a) | 387,000 | 404,841 | |||||
Reynolds American, Inc. | |||||||
4.450% 6/12/25 | 505,000 | 568,296 | |||||
2,914,825 | |||||||
Airlines — 0.1% | |||||||
American Airlines Pass-Through Trust, Series 2014-1, Class B, | |||||||
4.375% 4/01/24 | 20,383 | 14,435 | |||||
Delta Air Lines, Inc. / SkyMiles IP Ltd. | |||||||
4.500% 10/20/25 (a) | 185,000 | 189,968 | |||||
204,403 | |||||||
Auto Manufacturers — 1.7% | |||||||
Ford Motor Credit Co. LLC | |||||||
3 mo. USD LIBOR + .810% 1.114% FRN 4/05/21 | 405,000 | 399,079 | |||||
3 mo. USD LIBOR + 1.235% 1.515% FRN 2/15/23 | 275,000 | 253,052 | |||||
3.087% 1/09/23 | 260,000 | 254,771 | |||||
3.350% 11/01/22 | 365,000 | 359,525 | |||||
General Motors Financial Co., Inc. | |||||||
3.250% 1/05/23 | 970,000 | 1,002,482 | |||||
Hyundai Capital America | |||||||
2.375% 2/10/23 (a) | 600,000 | 615,985 | |||||
2.850% 11/01/22 (a) | 320,000 | 330,918 | |||||
Nissan Motor Acceptance Corp. | |||||||
1.900% 9/14/21 (a) | 200,000 | 200,812 | |||||
3,416,624 | |||||||
Banks — 8.8% | |||||||
ABN AMRO Bank NV | |||||||
4.750% 7/28/25 (a) | 435,000 | 489,853 | |||||
Banco Santander SA | |||||||
2.746% 5/28/25 | 200,000 | 209,791 | |||||
3.500% 4/11/22 | 600,000 | 622,366 | |||||
Bank of America Corp. 3 mo. USD LIBOR + .930% | |||||||
2.816% VRN 7/21/23 | 1,910,000 | 1,983,772 | |||||
The Bank of Nova Scotia | |||||||
4.500% 12/16/25 | 420,000 | 486,521 | |||||
Barclays Bank PLC | |||||||
10.179% 6/12/21 (a) | 504,000 | 530,263 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Barclays PLC 3 mo. USD LIBOR + 1.380% | |||||||
1.660% FRN 5/16/24 | $ | 485,000 | $ | 486,321 | |||
BPCE SA | |||||||
5.700% 10/22/23 (a) | 825,000 | 925,232 | |||||
Citigroup, Inc. | |||||||
4.400% 6/10/25 | 835,000 | 942,137 | |||||
Credit Suisse AG | |||||||
6.500% 8/08/23 (a) | 930,000 | 1,053,225 | |||||
Danske Bank A/S | |||||||
5.000% 1/12/22 (a) | 455,000 | 478,000 | |||||
Deutsche Bank AG SOFR + 2.159% | |||||||
2.222% VRN 9/18/24 | 685,000 | 689,761 | |||||
Discover Bank | |||||||
3.350% 2/06/23 | 673,000 | 711,779 | |||||
4.200% 8/08/23 | 310,000 | 339,413 | |||||
First Horizon National Corp. | |||||||
3.500% 12/15/20 | 520,000 | 521,767 | |||||
The Goldman Sachs Group, Inc. | |||||||
4.250% 10/21/25 | 1,845,000 | 2,099,059 | |||||
HSBC Holdings PLC | |||||||
4.250% 3/14/24 | 865,000 | 927,595 | |||||
Mitsubishi UFJ Financial Group, Inc. | |||||||
2.665% 7/25/22 | 820,000 | 850,093 | |||||
Morgan Stanley | |||||||
SOFR + 1.990% 2.188% VRN 4/28/26 | 425,000 | 445,096 | |||||
4.100% 5/22/23 | 424,000 | 459,264 | |||||
Sumitomo Mitsui Financial Group, Inc. | |||||||
1.474% 7/08/25 | 335,000 | 341,161 | |||||
2.448% 9/27/24 | 520,000 | 549,357 | |||||
3.748% 7/19/23 | 151,000 | 163,621 | |||||
Synchrony Bank | |||||||
3.000% 6/15/22 | 470,000 | 485,032 | |||||
UBS Group AG | |||||||
4.125% 9/24/25 (a) | 355,000 | 404,374 | |||||
17,194,853 | |||||||
Beverages — 0.9% | |||||||
Bacardi Ltd. | |||||||
4.450% 5/15/25 (a) | 778,000 | 868,988 | |||||
Molson Coors Beverage Co. | |||||||
2.100% 7/15/21 | 230,000 | 232,752 | |||||
3.000% 7/15/26 | 505,000 | 538,391 | |||||
3.500% 5/01/22 | 197,000 | 204,819 | |||||
1,844,950 | |||||||
Chemicals — 1.5% | |||||||
DuPont de Nemours, Inc. | |||||||
4.493% 11/15/25 | 705,000 | 812,625 | |||||
Huntsman International LLC | |||||||
5.125% 11/15/22 | 716,000 | 769,914 | |||||
Nutrition & Biosciences, Inc. | |||||||
1.230% 10/01/25 (a) | 360,000 | 359,098 | |||||
RPM International, Inc. | |||||||
3.450% 11/15/22 | 8,000 | 8,290 | |||||
Syngenta Finance NV | |||||||
4.441% 4/24/23 (a) | 570,000 | 602,000 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
4.892% 4/24/25 (a) | $ | 335,000 | $ | 363,209 | |||
2,915,136 | |||||||
Computers — 1.2% | |||||||
Dell International LLC / EMC Corp. | |||||||
4.000% 7/15/24 (a) | 414,000 | 447,029 | |||||
5.850% 7/15/25 (a) | 432,000 | 503,363 | |||||
Genpact Luxembourg Sarl | |||||||
3.375% 12/01/24 | 335,000 | 350,808 | |||||
3.700% STEP 4/01/22 | 635,000 | 650,077 | |||||
Leidos, Inc. | |||||||
2.950% 5/15/23 (a) | 390,000 | 407,971 | |||||
2,359,248 | |||||||
Diversified Financial Services — 3.6% | |||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust | |||||||
2.875% 8/14/24 | 1,025,000 | 987,219 | |||||
4.500% 9/15/23 | 255,000 | 262,790 | |||||
Aircastle Ltd. | |||||||
5.000% 4/01/23 | 1,010,000 | 1,012,276 | |||||
Antares Holdings LP | |||||||
6.000% 8/15/23 (a) | 473,000 | 478,325 | |||||
Avolon Holdings Funding Ltd. | |||||||
2.875% 2/15/25 (a) | 335,000 | 307,062 | |||||
BGC Partners, Inc. | |||||||
4.375% 12/15/25 (a) | 350,000 | 357,075 | |||||
Brookfield Finance, Inc. | |||||||
4.000% 4/01/24 | 580,000 | 638,474 | |||||
Lazard Group LLC | |||||||
3.750% 2/13/25 | 805,000 | 872,591 | |||||
LeasePlan Corp. NV | |||||||
2.875% 10/24/24 (a) | 280,000 | 288,965 | |||||
Park Aerospace Holdings Ltd. | |||||||
5.250% 8/15/22 (a) | 1,250,000 | 1,255,057 | |||||
Synchrony Financial | |||||||
2.850% 7/25/22 | 605,000 | 622,635 | |||||
7,082,469 | |||||||
Electric — 0.7% | |||||||
Enel Finance International NV | |||||||
2.875% 5/25/22 (a) | 285,000 | 294,083 | |||||
Entergy Texas, Inc. | |||||||
2.550% 6/01/21 | 95,000 | 96,257 | |||||
Pacific Gas and Electric Co. | |||||||
1.750% 6/16/22 | 640,000 | 640,769 | |||||
Puget Energy, Inc. | |||||||
6.000% 9/01/21 | 260,000 | 272,463 | |||||
1,303,572 | |||||||
Gas — 0.3% | |||||||
NiSource, Inc. | |||||||
0.950% 8/15/25 | 670,000 | 669,298 | |||||
Housewares — 0.5% | |||||||
Newell Brands, Inc. | |||||||
4.350% STEP 4/01/23 | 979,000 | 1,023,329 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Insurance — 2.9% | |||||||
AmTrust Financial Services, Inc. | |||||||
6.125% 8/15/23 | $ | 620,000 | $ | 574,863 | |||
Athene Global Funding | |||||||
2.750% 6/25/24 (a) | 1,020,000 | 1,063,549 | |||||
CNO Financial Group, Inc. | |||||||
5.250% 5/30/25 | 685,000 | 785,670 | |||||
Enstar Group Ltd. | |||||||
4.500% 3/10/22 | 685,000 | 713,667 | |||||
Equitable Holdings, Inc. | |||||||
3.900% 4/20/23 | 87,000 | 93,536 | |||||
Jackson National Life Global Funding | |||||||
2.500% 6/27/22 (a) | 495,000 | 511,345 | |||||
Lincoln National Corp. | |||||||
4.000% 9/01/23 | 122,000 | 133,188 | |||||
Trinity Acquisition PLC | |||||||
3.500% 9/15/21 | 600,000 | 614,788 | |||||
Unum Group | |||||||
3.875% 11/05/25 | 620,000 | 673,829 | |||||
4.500% 3/15/25 | 265,000 | 294,357 | |||||
Willis Towers Watson PLC | |||||||
5.750% 3/15/21 | 190,000 | 194,245 | |||||
5,653,037 | |||||||
Investment Companies — 1.4% | |||||||
Ares Capital Corp. | |||||||
4.200% 6/10/24 | 953,000 | 992,738 | |||||
BlackRock TCP Capital Corp. | |||||||
3.900% 8/23/24 | 360,000 | 365,767 | |||||
4.125% 8/11/22 | 675,000 | 684,607 | |||||
Sixth Street Specialty Lending, Inc. | |||||||
3.875% 11/01/24 | 655,000 | 663,548 | |||||
2,706,660 | |||||||
Iron & Steel — 0.4% | |||||||
Reliance Steel & Aluminum Co. | |||||||
1.300% 8/15/25 | 355,000 | 354,561 | |||||
Steel Dynamics, Inc. | |||||||
2.400% 6/15/25 | 165,000 | 172,156 | |||||
2.800% 12/15/24 | 250,000 | 263,732 | |||||
790,449 | |||||||
Lodging — 0.6% | |||||||
Las Vegas Sands Corp. | |||||||
3.200% 8/08/24 | 1,025,000 | 1,036,141 | |||||
Marriott International, Inc. /MD | |||||||
5.750% 5/01/25 | 161,000 | 179,679 | |||||
1,215,820 | |||||||
Machinery – Diversified — 0.4% | |||||||
CNH Industrial Capital LLC | |||||||
1.950% 7/02/23 | 120,000 | 122,250 | |||||
3.875% 10/15/21 | 635,000 | 652,279 | |||||
774,529 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Media — 1.0% | |||||||
Sirius XM Radio, Inc. | |||||||
3.875% 8/01/22 (a) | $ | 1,047,000 | $ | 1,058,124 | |||
ViacomCBS, Inc. | |||||||
4.750% 5/15/25 | 840,000 | 965,070 | |||||
2,023,194 | |||||||
Mining — 0.9% | |||||||
Glencore Finance Canada Ltd. | |||||||
4.250% STEP 10/25/22 (a) | 254,000 | 269,683 | |||||
Glencore Funding LLC | |||||||
4.125% 5/30/23 (a) | 360,000 | 385,952 | |||||
Kinross Gold Corp. | |||||||
5.125% 9/01/21 | 370,000 | 380,718 | |||||
5.950% 3/15/24 | 550,000 | 627,268 | |||||
1,663,621 | |||||||
Oil & Gas — 1.3% | |||||||
Continental Resources, Inc. | |||||||
5.000% 9/15/22 | 390,000 | 387,106 | |||||
EQT Corp. | |||||||
3.000% 10/01/22 | 565,000 | 551,581 | |||||
7.875% STEP 2/01/25 | 320,000 | 354,704 | |||||
Newfield Exploration Co. | |||||||
5.625% 7/01/24 | 505,000 | 489,876 | |||||
Petroleos Mexicanos | |||||||
4.625% 9/21/23 | 495,000 | 490,721 | |||||
Valero Energy Corp. | |||||||
2.700% 4/15/23 | 179,000 | 185,458 | |||||
2,459,446 | |||||||
Packaging & Containers — 0.4% | |||||||
Graphic Packaging International LLC | |||||||
4.750% 4/15/21 | 759,000 | 764,692 | |||||
Pharmaceuticals — 1.1% | |||||||
AbbVie, Inc. | |||||||
3.800% 3/15/25 (a) | 495,000 | 548,877 | |||||
Cardinal Health, Inc. 3 mo. USD LIBOR + .770% | |||||||
1.020% FRN 6/15/22 | 590,000 | 593,570 | |||||
Mylan, Inc. | |||||||
3.125% 1/15/23 (a) | 525,000 | 552,267 | |||||
Teva Pharmaceutical Finance Netherlands III BV | |||||||
2.200% 7/21/21 | 240,000 | 237,720 | |||||
Upjohn, Inc. | |||||||
1.650% 6/22/25 (a) | 190,000 | 194,492 | |||||
2,126,926 | |||||||
Pipelines — 1.7% | |||||||
Energy Transfer Operating LP | |||||||
4.200% 9/15/23 | 960,000 | 1,013,234 | |||||
EnLink Midstream Partners LP | |||||||
4.400% 4/01/24 | 490,000 | 441,000 | |||||
EQM Midstream Partners LP | |||||||
4.750% 7/15/23 | 505,000 | 504,015 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
MPLX LP 3 mo. USD LIBOR + 1.100% | |||||||
1.342% FRN 9/09/22 | $ | 1,050,000 | $ | 1,050,042 | |||
Plains All American Pipeline LP/PAA Finance Corp. | |||||||
3.850% 10/15/23 | 384,000 | 401,898 | |||||
3,410,189 | |||||||
Private Equity — 0.3% | |||||||
Hercules Capital, Inc. | |||||||
4.625% 10/23/22 | 610,000 | 617,500 | |||||
Real Estate Investment Trusts (REITS) — 2.6% | |||||||
CubeSmart LP | |||||||
4.375% 12/15/23 | 313,000 | 343,934 | |||||
Essex Portfolio LP | |||||||
3.500% 4/01/25 | 130,000 | 142,789 | |||||
3.875% 5/01/24 | 170,000 | 185,871 | |||||
Host Hotels & Resorts LP | |||||||
3.750% 10/15/23 | 950,000 | 980,094 | |||||
SBA Tower Trust | |||||||
1.884% 7/15/50 (a) | 287,000 | 293,374 | |||||
2.836% 1/15/50 (a) | 1,450,000 | 1,551,838 | |||||
Service Properties Trust | |||||||
4.350% 10/01/24 | 510,000 | 461,550 | |||||
Tanger Properties LP | |||||||
3.875% 12/01/23 | 610,000 | 613,485 | |||||
VEREIT Operating Partnership LP | |||||||
4.600% 2/06/24 | 570,000 | 611,496 | |||||
5,184,431 | |||||||
Retail — 1.1% | |||||||
O'Reilly Automotive, Inc. | |||||||
3.800% 9/01/22 | 123,000 | 129,611 | |||||
3.850% 6/15/23 | 873,000 | 937,423 | |||||
QVC, Inc. | |||||||
4.375% 3/15/23 | 1,060,000 | 1,099,088 | |||||
2,166,122 | |||||||
Semiconductors — 0.2% | |||||||
Microchip Technology, Inc. | |||||||
3.922% 6/01/21 | 390,000 | 398,632 | |||||
Telecommunications — 1.0% | |||||||
Qwest Corp | |||||||
6.750% 12/01/21 | 485,000 | 512,184 | |||||
Sprint Communications, Inc. | |||||||
9.250% 4/15/22 | 330,000 | 366,125 | |||||
T-Mobile USA, Inc. | |||||||
1.500% 2/15/26 (a) | 430,000 | 433,320 | |||||
Telefonaktiebolaget LM Ericsson | |||||||
4.125% 5/15/22 | 628,000 | 654,593 | |||||
1,966,222 | |||||||
Transportation — 0.4% | |||||||
Ryder System, Inc. | |||||||
3.400% 3/01/23 | 175,000 | 185,638 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
3.750% 6/09/23 | $ | 482,000 | $ | 518,106 | |||
703,744 | |||||||
Trucking & Leasing — 0.5% | |||||||
Penske Truck Leasing Co. LP/PTL Finance Corp. | |||||||
4.875% 7/11/22 (a) | 816,000 | 876,934 | |||||
TOTAL
CORPORATE DEBT (Cost $74,690,998) |
76,430,855 | ||||||
Municipal Obligations — 0.2% | |||||||
Louisiana State Public Facilities Authority, Revenue Bonds, Series 2011-A, Class A2, 3 mo. USD LIBOR | |||||||
1.168% FRN 4/26/27 | 10,467 | 10,476 | |||||
Pennsylvania Higher Education Assistance Agency, Revenue Bonds, Series 2006-2, Class B, 28 day ARS | |||||||
1.655% FRN 10/25/42 | 450,000 | 446,634 | |||||
TOTAL
MUNICIPAL OBLIGATIONS (Cost $454,280) |
457,110 | ||||||
Non-U.S. Government Agency Obligations — 50.7% | |||||||
Auto Floor Plan Asset-Backed Securities — 0.2% | |||||||
Navistar Financial Dealer Note Master Owner Trust II | |||||||
Series 2019-1, Class C, 1 mo. USD LIBOR + .950% 1.098% FRN 5/25/24 (a) | 236,000 | 234,771 | |||||
Series 2019-1, Class D, 1 mo. USD LIBOR + 1.450% 1.598% FRN 5/25/24 (a) | 214,000 | 212,806 | |||||
447,577 | |||||||
Automobile Asset-Backed Securities — 6.4% | |||||||
AmeriCredit Automobile Receivables Trust | |||||||
Series 2020-1, Class D, 1.800% 12/18/25 | 947,000 | 954,218 | |||||
Series 2019-3, Class D, 2.580% 9/18/25 | 588,000 | 602,920 | |||||
Avis Budget Rental Car Funding AESOP LLC | |||||||
Series 2020-1A, Class C, 3.020% 8/20/26 (a) | 1,259,000 | 1,226,723 | |||||
Series 2019-3A, Class C, 3.150% 3/20/26 (a) | 1,083,000 | 1,063,813 | |||||
Series 2019-1A, Class C, 4.530% 3/20/23 (a) | 233,000 | 235,943 | |||||
Series 2018-1A, Class C, 4.730% 9/20/24 (a) | 500,000 | 517,195 | |||||
Canadian Pacer Auto Receivables Trust, Series 2018-2A, Class B | |||||||
3.630% 1/19/24 (a) | 180,000 | 183,661 | |||||
Carmax Auto Owner Trust, Series 2019-4, Class D | |||||||
2.800% 4/15/26 | 560,000 | 565,044 | |||||
Carvana Auto Receivables Trust, Series 2019-4A, Class D | |||||||
3.070% 7/15/25 (a) | 719,000 | 739,695 | |||||
Drive Auto Receivables Trust, Series 2019-4, Class D | |||||||
2.700% 2/16/27 | 550,000 | 563,073 | |||||
Exeter Automobile Receivables Trust, Series 2019-3A, Class D | |||||||
3.110% 8/15/25 (a) | 400,000 | 412,708 | |||||
Hertz Fleet Lease Funding LP, Series 2019-1, Class D | |||||||
3.440% 1/10/33 (a) | 649,000 | 620,377 | |||||
Hertz Vehicle Financing II LP | |||||||
Series 2019-3A, Class B, 3.030% 12/26/25 (a) | 410,000 | 408,156 | |||||
Series 2017-1A, Class B, 3.560% 10/25/21 (a) | 910,000 | 902,384 | |||||
Hertz Vehicle Financing LLC, Series 2018-3A, Class B | |||||||
4.370% 7/25/24 (a) | 330,000 | 326,713 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Hertz Vehicle Financing LP, Series 2016-2A, Class C | |||||||
4.990% 3/25/22 (a) | $ | 1,800,000 | $ | 1,738,725 | |||
Oscar US Funding X LLC, Series 2019-1A, Class A4 | |||||||
3.270% 5/11/26 (a) | 500,000 | 527,725 | |||||
Santander Revolving Auto Loan Trust | |||||||
Series 2019-A, Class B, 2.800% 1/26/32 (a) | 170,000 | 178,870 | |||||
Series 2019-A, Class C, 3.000% 1/26/32 (a) | 101,000 | 102,259 | |||||
Series 2019-A, Class D, 3.450% 1/26/32 (a) | 215,000 | 214,224 | |||||
Tesla Auto Lease Trust, Series 2020-A, Class C | |||||||
1.680% 2/20/24 (a) | 456,000 | 460,641 | |||||
12,545,067 | |||||||
Commercial Mortgage-Backed Securities — 5.0% | |||||||
BAMLL Commercial Mortgage Securities Trust | |||||||
Series 2018-DSNY, Class C, 1 mo. USD LIBOR + 1.350% 1.502% FRN 9/15/34 (a) | 130,000 | 121,553 | |||||
Series 2019-BPR, Class CMP, 4.024% VRN 11/05/32 (a) (b) | 370,000 | 333,447 | |||||
Series 2019-BPR, Class DMP, 4.024% VRN 11/05/32 (a) (b) | 450,000 | 363,881 | |||||
BHMS Mortgage Trust | |||||||
Series 2018-ATLS, Class A, 1 mo. USD LIBOR + 1.250% 1.402% FRN 7/15/35 (a) | 770,000 | 736,325 | |||||
Series 2018-ATLS, Class B, 1 mo. USD LIBOR + 1.500% 1.652% FRN 7/15/35 (a) | 950,000 | 881,149 | |||||
BX Commercial Mortgage Trust | |||||||
Series 2018-IND, Class C, 1 mo. USD LIBOR + 1.100% 1.252% FRN 11/15/35 (a) | 759,500 | 755,761 | |||||
Series 2020-BXLP, Class D, 1 mo. USD LIBOR + 1.250% 1.402% FRN 12/15/36 (a) | 649,406 | 643,362 | |||||
Series 2020-BXLP, Class E, 1 mo. USD LIBOR + 1.600% 1.752% FRN 12/15/36 (a) | 766,299 | 757,250 | |||||
Series 2018-IND, Class E, 1 mo. USD LIBOR + 1.700% 1.852% FRN 11/15/35 (a) | 728,000 | 722,135 | |||||
Series 2019-XL, Class E, 1 mo. USD LIBOR + 1.800% 1.952% FRN 10/15/36 (a) | 299,978 | 297,187 | |||||
Series 2019-XL, Class F, 1 mo. USD LIBOR + 2.000% 2.152% FRN 10/15/36 (a) | 841,078 | 831,148 | |||||
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class E, 1 mo. USD LIBOR + 2.150% | |||||||
2.302% FRN 12/15/37 (a) | 545,194 | 538,413 | |||||
Commercial Mortgage Trust | |||||||
Series 2014-CR14, Class A2, 3.147% 2/10/47 | 90,050 | 90,062 | |||||
Series 2015-DC1, Class AM, 3.724% 2/10/48 | 480,000 | 518,460 | |||||
Series 2015-DC1, Class B, 4.035% VRN 2/10/48 (b) | 333,000 | 343,865 | |||||
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class D, 1 mo. USD LIBOR + 1.600% | |||||||
1.752% FRN 5/15/36 (a) | 200,000 | 198,000 | |||||
Hudson Yards Mortgage Trust, Series 2019-30HY, Class E, | |||||||
3.558% VRN 7/10/39 (a) (b) | 700,000 | 684,495 | |||||
KNDL Mortgage Trust, Series 2019-KNSQ, Class E, 1 mo. USD LIBOR + 1.800% | |||||||
1.952% FRN 5/15/36 (a) | 251,000 | 248,256 | |||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class B | |||||||
3.769% 2/15/46 | 250,000 | 248,896 | |||||
Morgan Stanley Capital I Trust, Series 2012-STAR, Class D | |||||||
4.057% 8/05/34 (a) | 400,000 | 387,518 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
MSCG Trust, Series 2018-SELF, Class C, 1 mo. USD LIBOR + 1.180% | |||||||
1.332% FRN 10/15/37 (a) | $ | 90,000 | $ | 88,923 | |||
9,790,086 | |||||||
Home Equity Asset-Backed Securities — 0.0% | |||||||
Credit Suisse Seasoned Loan Trust, Series 2006-1, Class A, 1 mo. USD LIBOR + .240% | |||||||
0.388% FRN 10/25/34 (a) | 56,785 | 56,315 | |||||
Other Asset-Backed Securities — 23.1% | |||||||
321 Henderson Receivables I LLC, Series 2006-1A, Class A1, 1 mo. USD LIBOR + .200% | |||||||
0.352% FRN 3/15/41 (a) | 26,604 | 26,173 | |||||
321 Henderson Receivables I LLC, Series 2010-3A, Class A | |||||||
3.820% 12/15/48 (a) | 159,782 | 166,754 | |||||
AASET Trust | |||||||
Series 2017-1A, Class A, 3.967% 5/16/42 (a) | 142,463 | 128,796 | |||||
Series 2018-2A, Class A, 4.454% 11/18/38 (a) | 643,463 | 598,464 | |||||
Adams Outdoor Advertising LP, Series 2018-1, Class A | |||||||
4.810% 11/15/48 (a) | 385,935 | 401,557 | |||||
Affirm Asset Securitization Trust | |||||||
Series 2020-A, Class A, 2.100% 2/18/25 (a) | 1,235,000 | 1,237,323 | |||||
Series 2020-Z1, Class A, 3.460% 10/15/24 (a) | 423,699 | 426,487 | |||||
American Tower Trust #1, Series 13, Class 2A | |||||||
3.070% 3/15/48 (a) | 500,000 | 511,053 | |||||
Ares LV CLO Ltd., Series 2020-55A, Class A1, 3 mo. USD LIBOR + 1.700% | |||||||
2.011% FRN 4/15/31 (a) | 500,000 | 501,505 | |||||
Ascentium Equipment Receivables Trust, Series 2019-2A, Class E | |||||||
3.780% 5/10/27 (a) | 669,000 | 670,381 | |||||
Avant Loans Funding Trust, Series 2019-A, Class A | |||||||
3.480% 7/15/22 (a) | 27,446 | 27,455 | |||||
Bain Capital Credit CLO Ltd. | |||||||
Series 2016-2A, Class BR, 3 mo. USD LIBOR + 1.800% 2.075% FRN 1/15/29 (a) | 750,000 | 746,079 | |||||
Series 2020-2A, Class A, 3 mo. USD LIBOR + 1.850% 2.211% FRN 7/21/31 (a) | 500,000 | 501,081 | |||||
Benefit Street Partners CLO X Ltd., Series 2016-10A, Class A2R, 3 mo. USD LIBOR + 1.750% | |||||||
2.025% FRN 1/15/29 (a) | 500,000 | 493,570 | |||||
BRE Grand Islander Timeshare Issuer LLC | |||||||
Series 2017-1A, Class A, 2.940% 5/25/29 (a) | 98,440 | 98,885 | |||||
Series 2019-A, Class B, 3.780% 9/26/33 (a) | 276,339 | 273,320 | |||||
CAL Funding II Ltd., Series 2018-2A, Class A | |||||||
4.340% 9/25/43 (a) | 232,000 | 230,057 | |||||
Capital Automotive REIT | |||||||
Series 2017-1A, Class A1, 3.870% 4/15/47 (a) | 244,038 | 244,485 | |||||
Series 2017-1A, Class A2, 4.180% 4/15/47 (a) | 610,095 | 612,009 | |||||
CARS-DB4 LP, Series 2020-1A, Class B1 | |||||||
4.170% 2/15/50 (a) | 484,000 | 499,433 | |||||
Castlelake Aircraft Structured Trust, Series 2018-1, Class A | |||||||
4.125% 6/15/43 (a) | 290,666 | 271,357 | |||||
Cbam CLO Management Cbam, Series 2018-6A, Class A1R, 3 mo. USD LIBOR + 1.270% | |||||||
1.545% FRN 1/15/31 (a) | 500,000 | 497,214 | |||||
CF Hippolyta LLC | |||||||
Series 2020-1, Class A1, 1.690% 7/15/60 (a) | 250,000 | 252,825 | |||||
Series 2020-1, Class B1, 2.280% 7/15/60 (a) | 101,000 | 102,764 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
CIFC Funding IV Ltd., Series 2015-4A, Class A2R, | |||||||
2.122% FRN 10/20/27 (a) (b) | $ | 300,000 | $ | 299,522 | |||
CNH Equipment Trust, Series 2020-A, Class B | |||||||
2.300% 10/15/27 | 235,000 | 245,659 | |||||
DB Master Finance LLC | |||||||
Series 2019-1A, Class A2I, 3.787% 5/20/49 (a) | 273,240 | 280,550 | |||||
Series 2019-1A, Class A2II, 4.021% 5/20/49 (a) | 322,740 | 341,345 | |||||
Diamond Resorts Owner Trust | |||||||
Series 2019-1A, Class A, 2.890% 2/20/32 (a) | 413,984 | 420,972 | |||||
Series 2018-1, Class A, 3.700% 1/21/31 (a) | 150,943 | 154,209 | |||||
Domino's Pizza Master Issuer LLC | |||||||
Series 2017-1A, Class A2II, 3.082% 7/25/47 (a) | 340,375 | 340,741 | |||||
Series 2018-1A, Class A2I, 4.116% 7/25/48 (a) | 352,800 | 372,820 | |||||
Elara HGV Timeshare Issuer LLC | |||||||
Series 2017-A, Class A, 2.690% 3/25/30 (a) | 106,549 | 106,193 | |||||
Series 2016-A, Class A, 2.730% 4/25/28 (a) | 194,797 | 193,964 | |||||
Series 2017-A, Class B, 2.960% 3/25/30 (a) | 315,701 | 310,234 | |||||
Series 2014-A, Class B, 3.020% VRN 2/25/27 (a) (b) | 25,013 | 24,977 | |||||
Series 2019-A, Class C, 3.450% 1/25/34 (a) | 657,609 | 645,947 | |||||
Elmwood CLO Ltd., Series 2019-2A, Class A, 3 mo. USD LIBOR + 1.450% | |||||||
1.722% FRN 4/20/31 (a) | 350,000 | 350,135 | |||||
FCI Funding LLC, Series 2019-1A, Class A | |||||||
3.630% 2/18/31 (a) | 104,740 | 106,570 | |||||
Global SC Finance II SRL, Series 2013-1A, Class A | |||||||
2.980% 4/17/28 (a) | 76,208 | 76,306 | |||||
Goodgreen Trust | |||||||
Series 2019-2A, Class A, 2.760% 10/15/54 (a) | 575,139 | 582,881 | |||||
Series 2016-1A, Class A, 3.230% 10/15/52 (a) | 292,775 | 304,331 | |||||
Series 2019-1A, Class A, 3.860% 10/15/54 (a) | 285,956 | 302,817 | |||||
Series 2018-1A, Class A, 3.930% VRN 10/15/53 (a) (b) | 253,829 | 269,757 | |||||
Hero Funding Trust | |||||||
Series 2017-3A, Class A1, 3.190% 9/20/48 (a) | 170,261 | 175,468 | |||||
Series 2016-4A, Class A1, 3.570% 9/20/47 (a) | 170,706 | 177,634 | |||||
Series 2015-1A, Class A, 3.840% 9/21/40 (a) | 352,702 | 370,833 | |||||
Series 2018-1A, Class A2, 4.670% 9/20/48 (a) | 309,740 | 332,371 | |||||
Hilton Grand Vacations Trust | |||||||
Series 2017-AA, Class A, 2.660% 12/26/28 (a) | 1,126,123 | 1,150,646 | |||||
Series 2017-AA, Class B, 2.960% 12/26/28 (a) | 122,729 | 123,813 | |||||
HIN Timeshare Trust, Series 2020-A, Class B | |||||||
2.230% 10/09/39 (a) | 1,027,000 | 1,027,995 | |||||
Horizon Aircraft Finance I Ltd., Series 2018-1, Class A | |||||||
4.458% 12/15/38 (a) | 532,581 | 503,121 | |||||
Horizon Aircraft Finance III Ltd, Series 2019-2, Class B | |||||||
4.458% 11/15/39 (a) | 683,333 | 515,179 | |||||
KDAC Aviation Finance Ltd., Series 2017-1A, Class A | |||||||
4.212% 12/15/42 (a) | 190,448 | 167,285 | |||||
KREF Ltd. | |||||||
Series 2018-FL1, Class A, 1 mo. USD LIBOR + 1.100% 1.251% FRN 6/15/36 (a) | 800,000 | 794,351 | |||||
Series 2018-FL1, Class AS, 1 mo. USD LIBOR + 1.350% 1.501% FRN 6/15/36 (a) | 1,150,000 | 1,139,326 | |||||
Lendmark Funding Trust, Series 2018-1A, Class A | |||||||
3.810% 12/21/26 (a) | 350,000 | 356,565 | |||||
Lunar Aircraft Ltd., Series 2020-1A, Class A | |||||||
3.376% 2/15/45 (a) | 175,127 | 162,232 | |||||
MACH 1 Cayman Ltd., Series 2019-1, Class A | |||||||
3.474% 10/15/39 (a) | 373,211 | 339,460 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Magnetite XXVI Ltd., Series 2020-26A, Class A, 3 mo. USD LIBOR + 1.750% | |||||||
1.949% FRN 7/15/30 (a) | $ | 750,000 | $ | 752,079 | |||
Mariner Finance Issuance Trust, Series 2018-AA, Class A | |||||||
4.200% 11/20/30 (a) | 903,000 | 907,664 | |||||
Marlette Funding Trust | |||||||
Series 2019-2A, Class A, 3.130% 7/16/29 (a) | 65,196 | 65,892 | |||||
Series 2019-2A, Class B, 3.530% 7/16/29 (a) | 146,000 | 148,862 | |||||
Mosaic Solar Loans LLC | |||||||
Series 2018-2GS, Class A, 4.200% 2/22/44 (a) | 229,463 | 244,115 | |||||
Series 2017-1A, Class A, 4.450% 6/20/42 (a) | 59,339 | 63,695 | |||||
Neuberger Berman CLO Ltd., Series 2015-20A, Class BR, 3 mo. USD LIBOR + 1.250% | |||||||
1.525% FRN 1/15/28 (a) | 600,000 | 591,442 | |||||
New Residential Advance Receivables Trust Advance Receivables Backed, Series 2019-T4, Class DT4 | |||||||
2.804% 10/15/51 (a) | 714,000 | 713,995 | |||||
NP SPE II LLC | |||||||
Series 2019-1A, Class A1, 2.574% 9/20/49 (a) | 203,677 | 202,260 | |||||
Series 2017-1A, Class A1, 3.372% 10/21/47 (a) | 135,252 | 138,129 | |||||
OCP CLO Ltd., Series 2015-8A, Class A2AR, 3 mo. USD LIBOR + 1.450% | |||||||
1.723% FRN 4/17/27 (a) | 650,000 | 647,689 | |||||
OneMain Financial Issuance Trust, Series 2019-2A, Class C | |||||||
3.660% 10/14/36 (a) | 600,000 | 627,040 | |||||
Orange Lake Timeshare Trust | |||||||
Series 2016-A, Class A, 2.610% 3/08/29 (a) | 341,910 | 342,614 | |||||
Series 2016-A, Class B, 2.910% 3/08/29 (a) | 140,207 | 132,509 | |||||
Series 2019-A, Class D, 4.930% 4/09/38 (a) | 502,357 | 462,721 | |||||
Oxford Finance Funding Trust | |||||||
Series 2020-1A, Class A2, 3.101% 2/15/28 (a) | 281,000 | 285,017 | |||||
Series 2016-1A, Class A, 3.968% 6/17/24 (a) | 24,436 | 24,445 | |||||
Planet Fitness Master Issuer LLC, Series 2018-1A, Class A2I | |||||||
4.262% 9/05/48 (a) | 588,000 | 587,763 | |||||
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A, 1 mo. USD LIBOR + 2.850% | |||||||
2.998% FRN 2/25/23 (a) | 250,000 | 244,003 | |||||
Recette CLO Ltd., Series 2015-1A, Class CR, 3 mo. USD LIBOR + 1.700% | |||||||
1.972% FRN 10/20/27 (a) | 250,000 | 248,386 | |||||
Rockford Tower CLO Ltd., Series 2017-3A, Class A, 3 mo. USD LIBOR + 1.190% | |||||||
1.462% FRN 10/20/30 (a) | 1,000,000 | 990,419 | |||||
RR 3 Ltd., Series 2018-3A, Class A1R2, 3 mo. USD LIBOR + 1.090% | |||||||
1.365% FRN 1/15/30 (a) | 400,000 | 395,810 | |||||
SBA Tower Trust, Series 2014-2A, Class C, | |||||||
3.869% STEP 10/15/49 (a) | 430,000 | 452,747 | |||||
Sierra Receivables Funding LLC | |||||||
Series 2016-2A, Class B, 2.780% 7/20/33 (a) | 89,880 | 89,606 | |||||
Series 2017-1A, Class A, 2.910% 3/20/34 (a) | 152,941 | 155,560 | |||||
Series 2019-3A, Class C, 3.000% 8/20/36 (a) | 350,397 | 345,373 | |||||
Series 2015-3A, Class B, 3.080% 9/20/32 (a) | 10,149 | 10,139 | |||||
Series 2020-2A, Class C, 3.510% 7/20/37 (a) | 117,895 | 119,022 | |||||
Series 2018-1A, Class B, 4.236% 4/20/35 | 332,784 | 325,859 | |||||
Series 2019-1A, Class D, 4.750% 1/20/36 (a) | 282,640 | 272,872 | |||||
SoFi Consumer Loan Program Trust | |||||||
Series 2016-1A, Class A, 3.260% 8/25/25 (a) | 142,829 | 143,945 | |||||
Series 2017-2, Class A, 3.280% 2/25/26 (a) | 26,085 | 26,073 | |||||
SoFi Consumer Loan Program Trust, Series 2019-3, Class D | |||||||
3.890% 5/25/28 (a) | 772,000 | 773,496 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
SpringCastle America Funding LLC, Series 2020-AA, Class A | |||||||
1.970% 9/25/37 (a) | $ | 950,000 | $ | 960,208 | |||
Stack Infrastructure Issuer LLC, Series 2020-1A, Class A2 | |||||||
1.893% 8/25/45 (a) | 162,000 | 163,080 | |||||
Store Master Funding I-VII, Series 2018-1A, Class A3 | |||||||
4.400% 10/20/48 (a) | 515,017 | 526,183 | |||||
Structured Asset Securities Corp. Mortgage Loan Trust, Series 2006-GEL1, Class M2, 1 mo. USD LIBOR + .800% | |||||||
0.948% FRN 11/25/35 (a) | 241,161 | 229,725 | |||||
Taco Bell Funding LLC, Series 2018-1A, Class A2I | |||||||
4.318% 11/25/48 (a) | 982,500 | 1,003,377 | |||||
TAL Advantage VII LLC, Series 2020-1A, Class B | |||||||
3.290% 9/20/45 (a) | 900,000 | 899,053 | |||||
Tif Funding II LLC, Series 2020-1A, Class A | |||||||
2.090% 8/20/45 (a) | 118,256 | 118,062 | |||||
TLF National Tax Lien Trust, Series 2017-1A, Class A | |||||||
3.090% 12/15/29 (a) | 337,362 | 339,587 | |||||
Trafigura Securitisation Finance PLC | |||||||
Series 2018-1A, Class A1, 1 mo. USD LIBOR + .730% 0.882% FRN 3/15/22 (a) | 610,000 | 599,706 | |||||
Series 2018-1A, Class B, 4.290% 3/15/22 (a) | 920,000 | 917,468 | |||||
Treman Park CLO Ltd., Series 2015-1A, Class ARR, 3 mo. USD LIBOR + 1.070% | |||||||
1.342% FRN 10/20/28 (a) | 1,000,000 | 993,488 | |||||
Trinity Rail Leasing LP | |||||||
Series 2018-1A, Class A1, 3.820% 6/17/48 (a) | 464,572 | 465,597 | |||||
Series 2019-1A, Class A, 3.820% 4/17/49 (a) | 638,748 | 665,398 | |||||
Trip Rail Master Funding LLC | |||||||
Series 2017-1A, Class A1, 2.709% 8/15/47 (a) | 49,742 | 49,786 | |||||
Series 2011-1A, Class A2, 6.024% 7/15/41 (a) | 668,991 | 695,714 | |||||
Triton Container Finance VIII LLC, Series 2020-1A, Class A | |||||||
2.110% 9/20/45 (a) | 600,000 | 600,772 | |||||
Vantage Data Centers LLC, Series 2020-1A, Class A2 | |||||||
1.645% 9/15/45 (a) (c) | 675,000 | 675,000 | |||||
VSE VOI Mortgage LLC, Series 2018-A, Class C | |||||||
4.020% 2/20/36 (a) | 160,084 | 149,747 | |||||
Welk Resorts LLC | |||||||
Series 2015-AA, Class A, 2.790% 6/16/31 (a) | 34,032 | 33,892 | |||||
Series 2017-AA, Class B, 3.410% 6/15/33 (a) | 116,376 | 114,859 | |||||
Westgate Resorts LLC | |||||||
Series 2020-1A, Class A, 2.713% 3/20/34 (a) | 416,610 | 425,910 | |||||
Series 2017-1A, Class A, 3.050% 12/20/30 (a) | 88,135 | 87,867 | |||||
Series 2018-1A, Class A, 3.380% 12/20/31 (a) | 188,129 | 186,893 | |||||
Willis Engine Structured Trust IV, Series 2018-A, Class A, | |||||||
4.750% STEP 9/15/43 (a) | 225,699 | 190,364 | |||||
45,208,213 | |||||||
Student Loans Asset-Backed Securities — 8.9% | |||||||
Access Group, Inc., Series 2015-1, Class B, 1 mo. USD LIBOR + 1.500% | |||||||
1.648% FRN 7/25/58 (a) | 140,000 | 123,627 | |||||
College Avenue Student Loans LLC | |||||||
Series 2018-A, Class A1, 1 mo. USD LIBOR + 1.200% 1.348% FRN 12/26/47 (a) | 435,566 | 431,226 | |||||
Series 2017-A, Class A1, FRN, 1 mo. USD LIBOR + 1.650% 1.798% FRN 11/26/46 (a) | 357,733 | 358,850 | |||||
Series 2017-A, Class B, 4.500% 11/26/46 (a) | 700,000 | 717,224 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
College Loan Corp. Trust I, Series 2005-2, Class B, 3 mo. USD LIBOR + .490% | |||||||
0.765% FRN 1/15/37 | $ | 165,709 | $ | 148,843 | |||
Commonbond Student Loan Trust | |||||||
Series 2019-AGS, Class B, 3.040% 1/25/47 (a) | 479,587 | 463,853 | |||||
Series 2018-AGS, Class C, 3.820% 2/25/44 (a) | 39,030 | 38,461 | |||||
Series 2018-BGS, Class C, 4.120% 9/25/45 (a) | 45,406 | 45,413 | |||||
Series 2018-CGS, Class C, 4.350% 2/25/46 (a) | 24,559 | 24,724 | |||||
Series 2017-AGS, Class C, 5.280% 5/25/41 (a) | 83,276 | 85,985 | |||||
Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B | |||||||
2.500% 1/25/30 (a) | 56,642 | 56,511 | |||||
DRB Prime Student Loan Trust, Series 2016-R, Class A1, 1 mo. USD LIBOR + 1.900% | |||||||
2.048% FRN 10/25/44 (a) | 144,509 | 144,861 | |||||
Earnest Student Loan Program LLC, Series 2016-B, Class A1, 1 mo. USD LIBOR + 2.050% | |||||||
2.198% FRN 2/26/35 (a) | 54,590 | 51,496 | |||||
ECMC Group Student Loan Trust, Series 2018-2A, Class A, 1 mo. USD LIBOR + .800% | |||||||
0.948% FRN 9/25/68 (a) | 399,679 | 392,162 | |||||
EdLinc Student Loan Funding, Series 2017-A, Class A, PRIME - 1.150% | |||||||
3.600% FRN 12/01/47 (a) | 338,987 | 334,982 | |||||
ELFI Graduate Loan Program LLC, Series 2018-A, Class B | |||||||
4.000% 8/25/42 (a) | 194,218 | 192,922 | |||||
Higher Education Funding I, Series 2004-1, Class B1, 28 day ARS | |||||||
1.796% FRN 1/01/44 (a) | 950,000 | 843,033 | |||||
Laurel Road Prime Student Loan Trust | |||||||
Series 2019-A, Class BFX, 3.000% 10/25/48 (a) | 256,646 | 260,855 | |||||
Series 2017-B, Class CFX, 3.610% 8/25/42 (a) | 172,101 | 164,297 | |||||
Series 2018-B, Class BFX, 3.720% 5/26/43 (a) | 191,151 | 195,511 | |||||
Navient Private Education Loan Trust, Series 2018-BA, Class A2B, 1 mo. USD LIBOR + .720% | |||||||
0.872% FRN 12/15/59 (a) | 155,899 | 149,265 | |||||
Navient Private Education Refi Loan Trust, Series 2020-BA, Class B | |||||||
2.770% 1/15/69 (a) | 2,200,000 | 2,219,234 | |||||
Navient Student Loan Trust | |||||||
Series 2018-1A, Class A3, 1 mo. USD LIBOR + .720% 0.868% FRN 3/25/67 (a) | 850,000 | 841,842 | |||||
Series 2019-1A, Class A2, 1 mo. USD LIBOR + .900% 1.048% FRN 12/27/67 (a) | 400,000 | 398,939 | |||||
Series 2016-7A, Class A, 1 mo. USD LIBOR + 1.150% 1.298% FRN 3/25/66 (a) | 701,420 | 701,420 | |||||
Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250% 1.398% FRN 6/25/65 (a) | 563,315 | 563,315 | |||||
Nelnet Private Education Loan Trust | |||||||
Series 2016-A, Class A1A, 1 mo. USD LIBOR + 1.750% 1.898% FRN 12/26/40 (a) | 98,356 | 93,949 | |||||
Series 2016-A, Class A1B, 3.600% 12/26/40 (a) | 70,825 | 71,189 | |||||
Nelnet Student Loan Trust | |||||||
Series 2007-2A, Class A4A2, 28 day ARS 1.497% FRN 6/25/35 (a) | 600,000 | 575,002 | |||||
Series 2014-1A, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 10/25/47 (a) | 270,000 | 253,585 | |||||
Series 2015-3A, Class B, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/54 (a) | 130,000 | 125,820 | |||||
SLC Student Loan Trust, Series 2005-1, Class B, 3 mo. USD LIBOR + .200% | |||||||
0.480% FRN 2/15/45 | 298,942 | 269,086 | |||||
SLM Student Loan Trust | |||||||
Series 2006-2, Class R, 0.000% 1/25/41 | 1,396 | 840,832 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Series 2006-5, Class B, 3 mo. USD LIBOR + .210% 0.455% FRN 10/25/40 | $ | 360,234 | $ | 322,064 | |||
Series 2005-6, Class B, 3 mo. USD LIBOR + .290% 0.535% FRN 1/25/44 | 488,442 | 435,199 | |||||
Series 2003-14, Class A6, 3 mo. USD LIBOR + .300% 0.545% FRN 7/25/25 | 87,589 | 85,585 | |||||
Series 2005-9, Class B, 3 mo. USD LIBOR + .300% 0.545% FRN 1/25/41 | 366,476 | 328,633 | |||||
Series 2005-8, Class B, 3 mo. USD LIBOR + .310% 0.555% FRN 1/25/55 | 144,310 | 128,296 | |||||
Series 2006-7, Class B, 3 mo. USD LIBOR + .200% 1.191% FRN 1/27/42 | 901,701 | 797,937 | |||||
SMB Private Education Loan Trust | |||||||
Series 2018-C, Class A2B, 1 mo. USD LIBOR + .750% 0.902% FRN 11/15/35 (a) | 455,940 | 449,621 | |||||
Series 2019-A, Class A2B, 1 mo. USD LIBOR + .870% 1.022% FRN 7/15/36 (a) | 504,000 | 497,641 | |||||
Series 2019-B, Class A2B, 1 mo. USD LIBOR + 1.000% 1.152% FRN 6/15/37 (a) | 500,000 | 499,170 | |||||
Series 2016-C, Class A2B, 1 mo. USD LIBOR + 1.100% 1.252% FRN 9/15/34 (a) | 167,427 | 166,911 | |||||
Series 2014-A, Class A2B, 1 mo. USD LIBOR + 1.150% 1.302% FRN 5/15/26 (a) | 132,604 | 132,897 | |||||
Series 2016-B, Class A2B, 1 mo. USD LIBOR + 1.450% 1.602% FRN 2/17/32 (a) | 73,579 | 73,911 | |||||
SoFi Professional Loan Program LLC | |||||||
Series 2017-D, Class R1, 0.000% 9/25/40 (a) | 1,000,000 | 345,020 | |||||
Series 2018-A, Class R1, 0.000% 2/25/42 (a) | 1,000,000 | 413,442 | |||||
Series 2018-D, Class R1, 0.000% 2/25/48 (a) | 956,000 | 211,372 | |||||
Series 2019-A, Class R1, 0.000% 6/15/48 (a) | 1,314,800 | 311,476 | |||||
Series 2016-D, Class A1, 1 mo. USD LIBOR + .950% 1.098% FRN 1/25/39 (a) | 27,694 | 27,750 | |||||
Series 2016-B, Class A1, 1 mo. USD LIBOR + 1.200% 1.348% FRN 6/25/33 (a) | 49,819 | 49,978 | |||||
17,455,217 | |||||||
Whole Loan Collateral Collateralized Mortgage Obligations — 7.1% | |||||||
Angel Oak Mortgage Trust | |||||||
Series 2020-5, Class A2, 1.579% VRN 5/25/65 (a) (b) | 429,457 | 428,882 | |||||
Series 2020-5, Class A3, 2.041% VRN 5/25/65 (a) (b) | 387,089 | 386,579 | |||||
Series 2018-3, Class A3, 3.238% VRN 5/25/59 (a) (b) | 250,814 | 253,398 | |||||
Series 2019-6, Class M1, 3.389% VRN 11/25/59 (a) (b) | 800,000 | 808,975 | |||||
Bank of America Mortgage Securities, Series 2004-G, Class 2A7, | |||||||
3.091% VRN 8/25/34 (b) | 3,468 | 3,392 | |||||
BRAVO Residential Funding Trust, Series 2020-NQM1, Class A3, | |||||||
2.406% VRN 5/25/60 (a) (b) | 415,414 | 414,737 | |||||
CIM Trust, Series 2019-INV3, Class A11, 1 mo. USD LIBOR + 1.000% | |||||||
1.125% FRN 8/25/49 (a) | 1,220,667 | 1,220,619 | |||||
Citigroup Mortgage Loan Trust | |||||||
Series 2019-IMC1, Class A3, 3.030% VRN 7/25/49 (a) (b) | 440,479 | 439,106 | |||||
Series 2019-IMC1, Class M1, 3.170% VRN 7/25/49 (a) (b) | 391,000 | 381,127 | |||||
Countrywide Home Loans, Inc. | |||||||
Series 2004-2, Class 1A1, 3.666% VRN 2/25/34 (b) | 2,796 | 2,699 | |||||
Series 2003-42, Class 1A1, 3.991% VRN 9/25/33 (b) | 727 | 697 | |||||
Deephaven Residential Mortgage Trust | |||||||
Series 2018-1A, Class A2, 3.027% VRN 12/25/57 (a) (b) | 148,743 | 149,749 | |||||
Series 2019-4A, Class M1, 3.484% VRN 10/25/59 (a) (b) | 550,000 | 555,016 | |||||
Series 2018-2A, Class A3, 3.684% VRN 4/25/58 (a) (b) | 346,132 | 348,680 | |||||
Series 2018-3A, Class A3, 3.963% VRN 8/25/58 (a) (b) | 254,021 | 256,953 | |||||
Series 2018-4A, Class A3, 4.285% VRN 10/25/58 (a) (b) | 368,559 | 372,258 | |||||
GSR Mortgage Loan Trust, Series 2004-9, Class 2A1, | |||||||
3.490% VRN 8/25/34 (b) | 1,057 | 1,067 | |||||
Homeward Opportunities Fund I Trust, Series 2020-2, Class A1, | |||||||
1.657% VRN 5/25/65 (a) (b) | 392,241 | 393,985 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
IndyMac Index Mortgage Loan Trust, Series 2004-AR4, Class 1A, | |||||||
3.165% VRN 8/25/34 (b) | $ | 6,528 | $ | 6,509 | |||
JP Morgan Mortgage Trust | |||||||
Series 2018-1, Class A5, 3.500% VRN 6/25/48 (a) (b) | 145,998 | 146,287 | |||||
Series 2018-3, Class A5, 3.500% VRN 9/25/48 (a) (b) | 272,197 | 274,079 | |||||
Series 2018-4, Class A15, 3.500% VRN 10/25/48 (a) (b) | 100,957 | 101,175 | |||||
Series 2017-6, Class A5, 3.500% VRN 12/25/48 (a) (b) | 174,655 | 176,719 | |||||
Merrill Lynch Mortgage Investors, Inc. | |||||||
Series 2003-A4, Class IA, 3.032% VRN 7/25/33 (b) | 352 | 336 | |||||
Series 2004-A1, Class IA, 3.250% VRN 2/25/34 (b) | 355 | 351 | |||||
New Residential Mortgage Loan Trust | |||||||
Series 2016-4A, Class A1, 3.750% VRN 11/25/56 (a) (b) | 225,527 | 240,636 | |||||
Series 2019-NQM2, Class A3, 3.752% VRN 4/25/49 (a) (b) | 153,052 | 155,416 | |||||
Series 2019-NQM1, Class A3, 3.928% VRN 1/25/49 (a) (b) | 364,675 | 370,972 | |||||
Onslow Bay Financial LLC, Series 2020-INV1, Class A21, | |||||||
3.500% VRN 12/25/49 (a) (b) | 602,476 | 614,204 | |||||
PSMC Trust | |||||||
Series 2018-1, Class A3, 3.500% VRN 2/25/48 (a) (b) | 199,699 | 201,842 | |||||
Series 2018-2, Class A3, 3.500% VRN 6/25/48 (a) (b) | 160,745 | 161,680 | |||||
Sequoia Mortgage Trust | |||||||
Series 2018-3, Class A4, 3.500% VRN 3/25/48 (a) (b) | 275,682 | 276,501 | |||||
Series 2018-5, Class A4, 3.500% VRN 5/25/48 (a) (b) | 150,990 | 151,961 | |||||
Series 2018-CH1, Class A10, 4.000% VRN 2/25/48 (a) (b) | 111,666 | 112,563 | |||||
Series 2018-CH2, Class A12, 4.000% VRN 6/25/48 (a) (b) | 295,025 | 298,558 | |||||
Series 2018-CH3, Class A11, 4.000% VRN 8/25/48 (a) (b) | 117,578 | 118,213 | |||||
Series 2018-7, Class A4, 4.000% VRN 9/25/48 (a) (b) | 16,480 | 16,458 | |||||
Series 2019-1, Class A4, 4.000% VRN 2/25/49 (a) (b) | 7,153 | 7,139 | |||||
Shellpoint Co-Originator Trust, Series 2016-1, Class 2A3, | |||||||
3.000% VRN 10/25/31 (a) (b) | 397,827 | 405,730 | |||||
Starwood Mortgage Residential Trust, Series 2019-INV1, Class A3, | |||||||
2.916% VRN 9/27/49 (a) (b) | 532,984 | 540,149 | |||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-2, Class 2A, | |||||||
2.970% VRN 3/25/34 (b) | 2,953 | 2,931 | |||||
TIAA Bank Mortgage Loan Trust, Series 2018-2, Class A4, | |||||||
3.500% VRN 7/25/48 (a) (b) | 87,826 | 87,947 | |||||
Verus Securitization Trust | |||||||
Series 2020-1, Class M1, 3.021% VRN 1/25/60 (a) (b) | 1,034,000 | 1,029,256 | |||||
Series 2019-4, Class M1, 3.207% VRN 11/25/59 (a) (b) | 430,000 | 423,699 | |||||
Series 2019-INV2, Class A3, 3.219% VRN 7/25/59 (a) (b) | 813,605 | 831,059 | |||||
Series 2019-INV3, Class M1, 3.279% VRN 11/25/59 (a) (b) | 265,000 | 265,728 | |||||
Series 2020-4, Class M1, 3.291% VRN 5/25/65 (a) (b) | 548,000 | 546,650 | |||||
Washington Mutual Mortgage Pass-Through Certificates, Series 2004-AR2, Class A, 12 mo. MTA + 1.400% | |||||||
2.419% FRN 4/25/44 | 8,701 | 8,321 | |||||
13,990,988 | |||||||
TOTAL
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $100,546,255) |
99,493,463 | ||||||
U.S. Government Agency Obligations and Instrumentalities — 1.7% | |||||||
Collateralized Mortgage Obligations — 0.1% | |||||||
Government
National Mortgage Association Series 2014-131, Class BW 2.868% FRN 5/20/41 (b) |
77,749 | 80,236 | |||||
Pass-Through Securities — 0.0% | |||||||
Federal Home Loan Mortgage Corp. | |||||||
Pool #C01079 7.500% 10/01/30 | 198 | 233 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) | |||||||
Principal
Amount |
Value | ||||||
Pool #C01135 7.500% 2/01/31 | $ | 779 | $ | 908 | |||
Federal National Mortgage Association | |||||||
Pool #775539 12 mo. USD LIBOR + 1.641% 2.516% FRN 5/01/34 | 2,642 | 2,751 | |||||
Pool #725692 1 year CMT + 2.137% 3.138% FRN 10/01/33 | 11,523 | 12,070 | |||||
Pool #888586 1 year CMT + 2.196% 3.326% FRN 10/01/34 | 14,475 | 15,254 | |||||
Pool #575667 7.000% 3/01/31 | 1,333 | 1,581 | |||||
Pool #529453 7.500% 1/01/30 | 443 | 520 | |||||
Pool #535996 7.500% 6/01/31 | 714 | 836 | |||||
Pool #252926 8.000% 12/01/29 | 13 | 15 | |||||
Pool #532819 8.000% 3/01/30 | 26 | 31 | |||||
Pool #534703 8.000% 5/01/30 | 443 | 516 | |||||
Pool #253437 8.000% 9/01/30 | 20 | 23 | |||||
Pool #253481 8.000% 10/01/30 | 9 | 10 | |||||
Pool #602008 8.000% 8/01/31 | 627 | 734 | |||||
Pool #190317 8.000% 8/01/31 | 434 | 508 | |||||
Pool #597220 8.000% 9/01/31 | 551 | 650 | |||||
Government National Mortgage Association I | |||||||
Pool #371146 7.000% 9/15/23 | 31 | 32 | |||||
Pool #352022 7.000% 11/15/23 | 448 | 474 | |||||
Pool #491089 7.000% 12/15/28 | 1,233 | 1,345 | |||||
Pool #500928 7.000% 5/15/29 | 570 | 654 | |||||
Pool #499410 7.000% 7/15/29 | 210 | 242 | |||||
Pool #510083 7.000% 7/15/29 | 144 | 164 | |||||
Pool #493723 7.000% 8/15/29 | 422 | 486 | |||||
Pool #581417 7.000% 7/15/32 | 841 | 959 | |||||
Government National Mortgage Association II | |||||||
Pool #008746 1 year CMT + 1.500% 3.125% FRN 11/20/25 | 506 | 517 | |||||
Pool #080136 1 year CMT + 1.500% 3.125% FRN 11/20/27 | 107 | 110 | |||||
41,623 | |||||||
Whole Loans — 1.6% | |||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | |||||||
Series 2020-DNA3, Class M1, 1 mo. USD LIBOR + 1.500% 1.648% FRN 6/25/50 (a) | 490,000 | 490,824 | |||||
Series 2020-DNA3, Class M2, 1 mo. USD LIBOR + 3.000% 3.148% FRN 6/25/50 (a) | 1,436,000 | 1,440,010 | |||||
Federal National Mortgage Association Connecticut Avenue Securities Trust | |||||||
Series 2019-R03, Class 1M2, 1 mo. USD LIBOR + 2.150% 2.298% FRN 9/25/31 (a) | 369,143 | 368,172 | |||||
Series 2019-R02, Class 1M2, 1 mo. USD LIBOR + 2.300% 2.448% FRN 8/25/31 (a) | 838,220 | 832,994 | |||||
3,132,000 | |||||||
TOTAL
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $3,263,441) |
3,253,859 | ||||||
U.S. Treasury Obligations — 0.7% | |||||||
U.S. Treasury Bonds & Notes — 0.7% | |||||||
U.S. Treasury Note | |||||||
8.000% 11/15/21 (d) | 1,220,000 | 1,327,438 | |||||
TOTAL
U.S. TREASURY OBLIGATIONS (Cost $1,395,661) |
1,327,438 | ||||||
TOTAL
BONDS & NOTES (Cost $180,350,635) |
180,962,725 | ||||||
TOTAL
PURCHASED OPTIONS (#) — 0.0% (Cost $147,532) |
76,230 | ||||||
TOTAL
LONG-TERM INVESTMENTS (Cost $180,498,167) |
181,038,955 |
MML Short-Duration Bond Fund — Portfolio of Investments (Continued) |
Principal
Amount | Value | |||||||
Short-Term Investments — 6.1% | ||||||||
Commercial Paper — 5.1% | ||||||||
American Honda Finance Corp. | ||||||||
0.315% 11/19/20 | $ | 1,000,000 | $ | 999,643 | ||||
Avangrid, Inc. | ||||||||
0.254% 11/09/20 (a) | 1,000,000 | 999,781 | ||||||
Duke Energy Corp. | ||||||||
0.223% 10/02/20 (a) | 2,000,000 | 1,999,990 | ||||||
Harley-Davidson Funding Corp. | ||||||||
0.254% 10/08/20 (a) | 1,000,000 | 999,962 | ||||||
Intercontinental Exchange, Inc. | ||||||||
0.376% 11/13/20 (a) (e) | 1,000,000 | 999,557 | ||||||
0.376% 12/03/20 (a) (e) | 1,000,000 | 999,337 | ||||||
NRW. Bank | ||||||||
0.162% 11/03/20 (a) | 2,000,000 | 1,999,774 | ||||||
Societe Generale SA | ||||||||
0.081% 10/06/20 (a) | 1,000,000 | 999,983 | ||||||
9,998,027 | ||||||||
U.S. Treasury Bill — 1.0% | ||||||||
U.S. Treasury Bill | ||||||||
0.000% 10/06/20 | 2,000,000 | 1,999,982 | ||||||
TOTAL
SHORT-TERM INVESTMENTS (Cost $11,997,839) | 11,998,009 | |||||||
TOTAL
INVESTMENTS — 98.4% (Cost $192,496,006) (f) | 193,036,964 | |||||||
Other Assets/(Liabilities) — 1.6% | 3,146,209 | |||||||
NET ASSETS — 100.0% | $ | 196,183,173 |
Abbreviation Legend | |
ARS | Auction Rate Security |
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 September 30, 2020, the aggregate market value of these securities amounted to $124,101,453 or 63.26% of net assets. |
(b) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at September 30, 2020. |
(c) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
(d) | A portion of this security is pledged/held as collateral for open derivatives. |
(e) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2020, these securities amounted to a value of $1,998,894 or 1.02% of net assets. |
(f) | See Note 3 for aggregate cost for federal tax purposes. |
MML 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 |
Value | Premium | Unrealized
| ||||||||||||||
Put | ||||||||||||||||||||||||
10-Year Interest Rate Swap, 2/02/43 | Credit Suisse International | 1/31/33 | 3.11% | Semi-Annually | 3-Month
USD LIBOR BBA | Quarterly | USD | 3,080,000 | $ | 76,230 | $ | 147,532 | $ | (71,302 | ) |
Futures contracts | ||||||||||||||
Expiration | Number
of | Notional | Value/
Net | |||||||||||
Long | ||||||||||||||
U.S. Treasury Note 10 Year | 12/21/20 | 152 | $ | 21,186,675 | $ | 22,075 | ||||||||
Short | ||||||||||||||
90 Day Eurodollar | 12/14/20 | 2 | $ | (487,568 | ) | $ | (11,207 | ) | ||||||
U.S. Treasury Ultra 10 Year | 12/21/20 | 54 | (8,613,771 | ) | (22,010 | ) | ||||||||
U.S. Treasury Note 2 Year | 12/31/20 | 129 | (28,490,861 | ) | (13,100 | ) | ||||||||
U.S. Treasury Note 5 Year | 12/31/20 | 524 | (65,977,525 | ) | (62,850 | ) | ||||||||
90 Day Eurodollar | 3/15/21 | 2 | (487,743 | ) | (11,282 | ) | ||||||||
90 Day Eurodollar | 9/13/21 | 3 | (731,728 | ) | (16,847 | ) | ||||||||
90 Day Eurodollar | 3/14/22 | 3 | (731,503 | ) | (16,847 | ) | ||||||||
90 Day Eurodollar | 9/19/22 | 3 | (731,203 | ) | (16,997 | ) | ||||||||
90 Day Eurodollar | 3/13/23 | 2 | (487,168 | ) | (11,432 | ) | ||||||||
90 Day Eurodollar | 12/18/23 | 3 | (730,078 | ) | (16,997 | ) | ||||||||
90 Day Eurodollar | 12/16/24 | 7 | (1,701,414 | ) | (38,349 | ) | ||||||||
$ | (237,918 | ) |
Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||
Reference | Rate
Paid | Payment
| Termination | Notional
| Value | Upfront
| Unrealized | |||||||||||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 900,000 | $ | (18,757 | ) | $ | (21,507 | ) | $ | 2,750 | |||||||||
CDX.NA.IG Series 35† | 1.000% | Quarterly | 12/20/2025 | USD | 800,000 | (16,673 | ) | (19,601 | ) | 2,928 | ||||||||||||
$ | (35,430 | ) | $ | (41,108 | ) | $ | 5,678 |
† | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
Currency Legend | |
USD | U.S. Dollar |
MML Small Cap Equity Fund — Portfolio of Investments |
September 30, 2020 (Unaudited) |
Number
of Shares | Value | |||||||
Equities — 99.2% | ||||||||
Common Stock — 99.2% | ||||||||
Basic Materials — 2.6% | ||||||||
Forest Products & Paper — 0.6% | ||||||||
Schweitzer-Mauduit International, Inc. | 19,548 | $ | 594,064 | |||||
Mining — 2.0% | ||||||||
Compass Minerals International, Inc. | 22,969 | 1,363,210 | ||||||
Kaiser Aluminum Corp. | 15,061 | 807,119 | ||||||
2,170,329 | ||||||||
2,764,393 | ||||||||
Communications — 1.4% | ||||||||
Internet — 1.4% | ||||||||
Q2 Holdings, Inc. (a) (b) | 16,660 | 1,520,392 | ||||||
Consumer, Cyclical — 14.8% | ||||||||
Auto Parts & Equipment — 3.0% | ||||||||
Dorman Products, Inc. (a) | 16,534 | 1,494,343 | ||||||
Visteon Corp. (a) | 24,124 | 1,669,863 | ||||||
3,164,206 | ||||||||
Entertainment — 0.3% | ||||||||
Cedar Fair LP (c) | 11,532 | 323,703 | ||||||
Retail — 11.5% | ||||||||
AutoNation, Inc. (a) | 40,877 | 2,163,620 | ||||||
Big Lots, Inc. | 13,696 | 610,842 | ||||||
BJ's Wholesale Club Holdings, Inc. (a) | 60,784 | 2,525,575 | ||||||
Foot Locker, Inc. | 15,562 | 514,013 | ||||||
Jack in the Box, Inc. | 18,697 | 1,482,859 | ||||||
Ollie's Bargain Outlet Holdings, Inc. (a) | 5,492 | 479,726 | ||||||
Suburban Propane Partners LP (c) | 96,387 | 1,569,180 | ||||||
Texas Roadhouse, Inc. | 25,636 | 1,558,412 | ||||||
The Wendy's Co. | 54,677 | 1,219,024 | ||||||
12,123,251 | ||||||||
15,611,160 | ||||||||
Consumer, Non-cyclical — 26.9% | ||||||||
Biotechnology — 4.5% | ||||||||
ADC Therapeutics SA (a) | 9,047 | 298,461 | ||||||
Emergent BioSolutions, Inc. (a) | 19,710 | 2,036,634 | ||||||
NeoGenomics, Inc. (a) | 26,800 | 988,652 | ||||||
Twist Bioscience Corp. (a) | 13,931 | 1,058,338 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Zai Lab Ltd. ADR (a) | 4,469 | $ | 371,687 | |||||
4,753,772 | ||||||||
Commercial Services — 5.3% | ||||||||
ASGN, Inc. (a) | 34,083 | 2,166,315 | ||||||
Korn Ferry | 55,051 | 1,596,479 | ||||||
Monro, Inc. | 26,168 | 1,061,636 | ||||||
Paylocity Holding Corp. (a) | 4,392 | 708,957 | ||||||
5,533,387 | ||||||||
Foods — 1.9% | ||||||||
BellRing Brands, Inc. Class A (a) | 47,288 | 980,753 | ||||||
The Simply Good Foods Co. (a) (b) | 48,080 | 1,060,164 | ||||||
2,040,917 | ||||||||
Health Care – Products — 7.5% | ||||||||
Adaptive Biotechnologies Corp. (a) | 14,359 | 698,278 | ||||||
AtriCure, Inc. (a) | 24,434 | 974,917 | ||||||
Inspire Medical Systems, Inc. (a) | 10,088 | 1,301,856 | ||||||
Intersect ENT, Inc. (a) | 24,122 | 393,430 | ||||||
iRhythm Technologies, Inc. (a) | 4,332 | 1,031,492 | ||||||
OraSure Technologies, Inc. (a) | 32,136 | 391,095 | ||||||
Repligen Corp. (a) | 6,940 | 1,023,928 | ||||||
Tandem Diabetes Care, Inc. (a) | 17,964 | 2,038,914 | ||||||
7,853,910 | ||||||||
Health Care – Services — 5.0% | ||||||||
Addus HomeCare Corp. (a) | 16,976 | 1,604,402 | ||||||
American Well Corp. (a) | 9,640 | 285,730 | ||||||
LHC Group, Inc. (a) | 12,468 | 2,650,198 | ||||||
Tenet Healthcare Corp. (a) | 31,242 | 765,741 | ||||||
5,306,071 | ||||||||
Household Products & Wares — 1.2% | ||||||||
Acco Brands Corp. | 221,316 | 1,283,633 | ||||||
Pharmaceuticals — 1.5% | ||||||||
Axsome Therapeutics, Inc. (a) (b) | 5,551 | 395,509 | ||||||
Collegium Pharmaceutical, Inc. (a) | 29,984 | 624,267 | ||||||
G1 Therapeutics, Inc. (a) (b) | 14,390 | 166,204 | ||||||
uniQure NV (a) | 10,924 | 402,331 | ||||||
1,588,311 | ||||||||
28,360,001 | ||||||||
Energy — 3.1% | ||||||||
Energy – Alternate Sources — 2.7% | ||||||||
Renewable Energy Group, Inc. (a) | 51,961 | 2,775,756 | ||||||
Pipelines — 0.4% | ||||||||
Noble Midstream Partners LP (c) | 59,412 | 434,896 | ||||||
3,210,652 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Financial — 18.6% | ||||||||
Banks — 5.2% | ||||||||
The Bank of NT Butterfield & Son Ltd. | 44,792 | $ | 997,966 | |||||
BankUnited, Inc. | 46,583 | 1,020,634 | ||||||
Cathay General Bancorp | 27,102 | 587,571 | ||||||
CIT Group, Inc. | 32,326 | 572,493 | ||||||
First Horizon National Corp. | 106,969 | 1,008,718 | ||||||
Heritage Financial Corp. | 47,725 | 877,663 | ||||||
Signature Bank | 5,087 | 422,170 | ||||||
5,487,215 | ||||||||
Diversified Financial Services — 2.6% | ||||||||
Federated Hermes, Inc. | 22,924 | 493,095 | ||||||
Focus Financial Partners, Inc. Class A (a) | 30,129 | 987,930 | ||||||
Stifel Financial Corp. | 24,341 | 1,230,681 | ||||||
2,711,706 | ||||||||
Insurance — 0.6% | ||||||||
ProSight Global, Inc. (a) | 24,881 | 282,150 | ||||||
Selectquote, Inc. (a) | 19,075 | 386,269 | ||||||
668,419 | ||||||||
Real Estate Investment Trusts (REITS) — 6.0% | ||||||||
Brandywine Realty Trust (b) | 117,087 | 1,210,680 | ||||||
DiamondRock Hospitality Co. | 194,360 | 985,405 | ||||||
EPR Properties | 37,320 | 1,026,300 | ||||||
Four Corners Property Trust, Inc. | 75,976 | 1,944,226 | ||||||
National Storage Affiliates Trust | 34,751 | 1,136,705 | ||||||
6,303,316 | ||||||||
Savings & Loans — 4.2% | ||||||||
Berkshire Hills Bancorp, Inc. | 41,167 | 416,198 | ||||||
OceanFirst Financial Corp. | 48,157 | 659,269 | ||||||
Pacific Premier Bancorp, Inc. | 49,108 | 989,035 | ||||||
Sterling Bancorp | 61,596 | 647,990 | ||||||
WSFS Financial Corp. | 61,438 | 1,656,983 | ||||||
4,369,475 | ||||||||
19,540,131 | ||||||||
Industrial — 16.4% | ||||||||
Building Materials — 2.3% | ||||||||
Masonite International Corp. (a) | 15,280 | 1,503,552 | ||||||
Summit Materials, Inc. Class A (a) | 55,636 | 920,219 | ||||||
2,423,771 | ||||||||
Electrical Components & Equipment — 1.9% | ||||||||
Energizer Holdings, Inc. | 27,701 | 1,084,217 | ||||||
EnerSys | 13,971 | 937,734 | ||||||
2,021,951 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Electronics — 0.7% | ||||||||
Atkore International Group, Inc. (a) | 34,162 | $ | 776,502 | |||||
Engineering & Construction — 3.7% | ||||||||
Comfort Systems USA, Inc. | 11,867 | 611,269 | ||||||
KBR, Inc. | 70,933 | 1,586,062 | ||||||
TopBuild Corp. (a) | 10,053 | 1,715,947 | ||||||
3,913,278 | ||||||||
Environmental Controls — 1.6% | ||||||||
Evoqua Water Technologies Corp. (a) | 54,229 | 1,150,739 | ||||||
US Ecology, Inc. | 14,665 | 479,106 | ||||||
1,629,845 | ||||||||
Machinery – Diversified — 1.0% | ||||||||
Chart Industries, Inc. (a) | 15,578 | 1,094,666 | ||||||
Metal Fabricate & Hardware — 2.4% | ||||||||
Rexnord Corp. | 64,271 | 1,917,847 | ||||||
Valmont Industries, Inc. | 4,813 | 597,678 | ||||||
2,515,525 | ||||||||
Miscellaneous - Manufacturing — 1.0% | ||||||||
EnPro Industries, Inc. | 18,027 | 1,016,903 | ||||||
Transportation — 1.8% | ||||||||
CryoPort, Inc. (a) (b) | 24,903 | 1,180,402 | ||||||
Hub Group, Inc. Class A (a) | 13,215 | 663,327 | ||||||
1,843,729 | ||||||||
17,236,170 | ||||||||
Technology — 12.4% | ||||||||
Computers — 2.5% | ||||||||
CACI International, Inc. Class A (a) | 6,853 | 1,460,785 | ||||||
Perspecta, Inc. | 60,799 | 1,182,541 | ||||||
2,643,326 | ||||||||
Semiconductors — 4.7% | ||||||||
Brooks Automation, Inc. | 30,521 | 1,411,901 | ||||||
MKS Instruments, Inc. | 16,108 | 1,759,477 | ||||||
Semtech Corp. (a) | 34,528 | 1,828,603 | ||||||
4,999,981 | ||||||||
Software — 5.2% | ||||||||
1Life Healthcare, Inc. (a) | 15,062 | 427,158 | ||||||
Bottomline Technologies de, Inc. (a) | 36,063 | 1,520,416 | ||||||
Envestnet, Inc. (a) | 11,222 | 865,890 | ||||||
j2 Global, Inc. (a) | 24,325 | 1,683,777 | ||||||
Zynga, Inc. Class A (a) | 101,441 | 925,142 | ||||||
5,422,383 | ||||||||
13,065,690 |
MML Small Cap Equity Fund — Portfolio of Investments (Continued) |
Number
of Shares | Value | |||||||
Utilities — 3.0% | ||||||||
Electric — 0.9% | ||||||||
Avista Corp. | 28,920 | $ | 986,751 | |||||
Gas — 2.1% | ||||||||
National Fuel Gas Co. | 19,363 | 785,944 | ||||||
South Jersey Industries, Inc. | 74,323 | 1,432,204 | ||||||
2,218,148 | ||||||||
3,204,899 | ||||||||
TOTAL
COMMON STOCK (Cost $90,680,883) | 104,513,488 | |||||||
TOTAL
EQUITIES (Cost $90,680,883) | 104,513,488 | |||||||
TOTAL
LONG-TERM INVESTMENTS (Cost $90,680,883) | 104,513,488 |
Principal Amount | ||||||||
Short-Term Investments — 0.8% | ||||||||
Repurchase Agreement — 0.8% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (d) | $ | 845,522 | 845,522 | |||||
TOTAL
SHORT-TERM INVESTMENTS (Cost $845,522) | 845,522 | |||||||
TOTAL
INVESTMENTS — 100.0% (Cost $91,526,405) (e) | 105,359,010 | |||||||
Other Assets/(Liabilities) — (0.0)% | (14,880 | ) | ||||||
NET ASSETS — 100.0% | $ | 105,344,130 |
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 September 30, 2020, was $3,483,618 or 3.31% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $3,591,138 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) | Maturity value of $845,522. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $862,502. |
(e) | See Note 3 for aggregate cost for federal tax purposes. |
MML Special Situations Fund — Portfolio of Investments |
September 30, 2020 (Unaudited) |
Number
of Shares |
Value | |||||||
Equities — 99.7% | ||||||||
Common Stock — 99.7% | ||||||||
Basic Materials — 21.1% | ||||||||
Chemicals — 15.6% | ||||||||
The Chemours Co. | 43,100 | $ | 901,221 | |||||
Dow, Inc. | 61,300 | 2,884,165 | ||||||
DuPont de Nemours, Inc. | 6,600 | 366,168 | ||||||
Ingevity Corp. (a) | 7,900 | 390,576 | ||||||
4,542,130 | ||||||||
Mining — 5.5% | ||||||||
Alcoa Corp. (a) | 45,300 | 526,839 | ||||||
Arconic Corp. (a) | 57,100 | 1,087,755 | ||||||
1,614,594 | ||||||||
6,156,724 | ||||||||
Communications — 2.2% | ||||||||
Media — 2.2% | ||||||||
Altice USA, Inc. Class A (a) | 23,956 | 622,856 | ||||||
Consumer, Cyclical — 16.6% | ||||||||
Apparel — 1.6% | ||||||||
Kontoor Brands, Inc. (a) (b) | 18,900 | 457,380 | ||||||
Auto Parts & Equipment — 1.9% | ||||||||
Delphi Technologies PLC (a) | 32,800 | 548,088 | ||||||
Distribution & Wholesale — 1.9% | ||||||||
IAA, Inc. (a) | 10,300 | 536,321 | ||||||
Resideo Technologies, Inc. (a) | 510 | 5,610 | ||||||
541,931 | ||||||||
Entertainment — 6.3% | ||||||||
Penn National Gaming, Inc. (a) (b) | 25,200 | 1,832,040 | ||||||
Leisure Time — 1.2% | ||||||||
Brunswick Corp. | 6,000 | 353,460 | ||||||
Lodging — 3.7% | ||||||||
Hilton Grand Vacations, Inc. (a) | 14,400 | 302,112 | ||||||
Wyndham Hotels & Resorts, Inc. | 15,700 | 792,850 | ||||||
1,094,962 | ||||||||
4,827,861 |
MML Special Situations Fund — Portfolio of Investments (Continued) |
Number
of Shares |
Value | |||||||
Consumer, Non-cyclical — 19.8% | ||||||||
Biotechnology — 6.9% | ||||||||
Corteva, Inc. | 69,500 | $ | 2,002,295 | |||||
Commercial Services — 3.2% | ||||||||
PayPal Holdings, Inc. (a) | 4,762 | 938,257 | ||||||
Foods — 5.0% | ||||||||
Lamb Weston Holdings, Inc. | 22,100 | 1,464,567 | ||||||
Health Care – Products — 2.1% | ||||||||
West Pharmaceutical Services, Inc. | 2,197 | 603,955 | ||||||
Pharmaceuticals — 2.6% | ||||||||
Zoetis, Inc. | 4,649 | 768,805 | ||||||
5,777,879 | ||||||||
Financial — 4.6% | ||||||||
Insurance — 3.2% | ||||||||
Brighthouse Financial, Inc. (a) | 34,500 | 928,395 | ||||||
Real Estate Investment Trusts (REITS) — 1.4% | ||||||||
Park Hotels & Resorts, Inc. | 41,900 | 418,581 | ||||||
1,346,976 | ||||||||
Industrial — 33.7% | ||||||||
Building Materials — 10.6% | ||||||||
Carrier Global Corp. | 101,300 | 3,093,702 | ||||||
Electronics — 7.9% | ||||||||
Fortive Corp. | 12,900 | 983,109 | ||||||
Honeywell International, Inc. | 3,060 | 503,707 | ||||||
Keysight Technologies, Inc. (a) | 8,302 | 820,071 | ||||||
2,306,887 | ||||||||
Engineering & Construction — 8.3% | ||||||||
Arcosa, Inc. | 37,179 | 1,639,222 | ||||||
frontdoor, Inc. (a) | 9,900 | 385,209 | ||||||
Jacobs Engineering Group, Inc. | 4,100 | 380,357 | ||||||
2,404,788 | ||||||||
Machinery – Diversified — 6.9% | ||||||||
Otis Worldwide Corp. | 29,800 | 1,860,116 | ||||||
Welbilt, Inc. (a) | 24,400 | 150,304 | ||||||
2,010,420 | ||||||||
9,815,797 | ||||||||
Technology — 1.7% | ||||||||
Computers — 1.7% | ||||||||
Perspecta, Inc. | 25,437 | 494,750 | ||||||
TOTAL COMMON STOCK (Cost $25,540,654) |
29,042,843 | |||||||
TOTAL EQUITIES (Cost $25,540,654) |
29,042,843 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $25,540,654) |
29,042,843 |
MML Special Situations Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 0.5% | ||||||||
Repurchase Agreement — 0.5% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (c) | $ | 148,206 | $ | 148,206 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $148,206) | 148,206 | |||||||
TOTAL INVESTMENTS — 100.2% (Cost $25,688,860) (d) | 29,191,049 | |||||||
Other Assets/(Liabilities) — (0.2)% | (56,362 | ) | ||||||
NET ASSETS — 100.0% | $ | 29,134,687 |
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 September 30, 2020, was $2,131,683 or 7.32% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $2,082,736 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 $148,206. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $151,227. |
(d) | See Note 3 for aggregate cost for federal tax purposes. |
MML Strategic Emerging Markets Fund — Portfolio of Investments |
September 30, 2020 (Unaudited) |
Number of Shares | Value | |||||||
Equities — 98.4% | ||||||||
Common Stock — 95.1% | ||||||||
Belgium — 1.0% | ||||||||
Anheuser-Busch InBev SA | 24,487 | $ | 1,321,749 | |||||
Bermuda — 1.8% | ||||||||
Credicorp Ltd. | 11,881 | 1,473,125 | ||||||
Jardine Strategic Holdings Ltd. | 47,189 | 934,885 | ||||||
2,408,010 | ||||||||
Brazil — 2.3% | ||||||||
Ambev SA | 279,013 | 623,021 | ||||||
B3 SA - Brasil Bolsa Balcao | 120,253 | 1,177,926 | ||||||
Vale SA Sponsored ADR (a) | 123,636 | 1,308,069 | ||||||
3,109,016 | ||||||||
Cayman Islands — 25.7% | ||||||||
Alibaba Group Holding Ltd. Sponsored ADR (b) | 30,407 | 8,939,050 | ||||||
Budweiser Brewing Co. APAC Ltd. (c) | 450,100 | 1,314,833 | ||||||
Hansoh Pharmaceutical Group Co. Ltd. (b) (c) | 112,000 | 548,497 | ||||||
Huazhu Group Ltd. ADR | 108,203 | 4,678,697 | ||||||
Innovent Biologics, Inc. (b) (c) | 94,500 | 703,757 | ||||||
Meituan Dianping Class B (b) | 34,000 | 1,069,275 | ||||||
New Oriental Education & Technology Group, Inc. Sponsored ADR (b) | 2,436 | 364,182 | ||||||
OneConnect Financial Technology Co. Ltd. (a) (b) | 63,180 | 1,345,734 | ||||||
Pagseguro Digital Ltd. Class A (a) (b) | 32,845 | 1,238,585 | ||||||
Tencent Holdings Ltd. | 148,209 | 9,869,737 | ||||||
Wuxi Biologics Cayman, Inc. (b) (c) | 23,000 | 564,431 | ||||||
ZTO Express Cayman, Inc. (b) | 7,437 | 215,144 | ||||||
ZTO Express Cayman, Inc. ADR | 114,375 | 3,422,100 | ||||||
34,274,022 | ||||||||
Chile — 0.7% | ||||||||
Falabella SA | 326,307 | 955,980 | ||||||
China — 5.0% | ||||||||
Jiangsu Hengrui Medicine Co. Ltd. Class A | 211,287 | 2,796,883 | ||||||
Ping An Insurance Group Co. of China Ltd. Class A | 340,562 | 3,817,321 | ||||||
6,614,204 | ||||||||
Colombia — 0.3% | ||||||||
Grupo Aval Acciones y Valores SA (a) | 94,824 | 437,139 | ||||||
Egypt — 0.9% | ||||||||
Commercial International Bank Egypt SAE | 276,906 | 1,168,105 | ||||||
France — 6.0% | ||||||||
Kering SA | 10,707 | 7,113,572 |
MML Strategic Emerging Markets Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
LVMH Moet Hennessy Louis Vuitton SE | 109 | $ | 50,957 | |||||
Pernod Ricard SA | 5,064 | 808,164 | ||||||
7,972,693 | ||||||||
Hong Kong — 4.0% | ||||||||
AIA Group Ltd. | 543,000 | 5,349,190 | ||||||
India — 11.8% | ||||||||
HDFC Bank Ltd. (b) | 95,071 | 1,400,098 | ||||||
Housing Development Finance Corp. Ltd. | 218,919 | 5,174,668 | ||||||
Infosys Ltd. | 42,733 | 589,057 | ||||||
Kotak Mahindra Bank Ltd. (b) | 223,900 | 3,849,218 | ||||||
Oberoi Realty Ltd. (b) | 88,933 | 478,064 | ||||||
Tata Consultancy Services Ltd. | 99,759 | 3,370,837 | ||||||
Zee Entertainment Enterprises Ltd. | 315,798 | 905,550 | ||||||
15,767,492 | ||||||||
Indonesia — 1.1% | ||||||||
Bank Central Asia Tbk PT | 525,600 | 959,206 | ||||||
Indocement Tunggal Prakarsa Tbk PT | 337,997 | 236,670 | ||||||
Semen Indonesia Persero Tbk PT | 394,300 | 243,883 | ||||||
1,439,759 | ||||||||
Italy — 1.9% | ||||||||
Moncler SpA (b) | 22,108 | 905,507 | ||||||
PRADA SpA (b) | 412,800 | 1,611,319 | ||||||
2,516,826 | ||||||||
Mexico — 4.6% | ||||||||
Alsea SAB de CV (b) | 243,074 | 231,405 | ||||||
Fomento Economico Mexicano SAB de CV | 457,471 | 2,569,608 | ||||||
Fomento Economico Mexicano SAB de CV Sponsored ADR | 10,826 | 608,313 | ||||||
Grupo Aeroportuario del Sureste SAB de CV Class B (b) | 42,094 | 488,493 | ||||||
Grupo Financiero Inbursa SAB de CV Class O (b) | 524,534 | 405,413 | ||||||
Grupo Mexico SAB de CV Series B | 741,532 | 1,887,408 | ||||||
6,190,640 | ||||||||
Netherlands — 3.6% | ||||||||
Yandex NV Class A (a) (b) | 73,892 | 4,821,453 | ||||||
Philippines — 2.4% | ||||||||
Ayala Land, Inc. | 1,631,200 | 999,413 | ||||||
SM Investments Corp. | 95,845 | 1,739,839 | ||||||
SM Prime Holdings, Inc. | 855,212 | 520,096 | ||||||
3,259,348 | ||||||||
Republic of Korea — 1.7% | ||||||||
Amorepacific Corp. | 920 | 128,087 | ||||||
AMOREPACIFIC Group | 5,263 | 218,394 | ||||||
Samsung Biologics Co. Ltd. (b) (c) | 3,161 | 1,863,516 | ||||||
2,209,997 | ||||||||
Russia — 5.9% | ||||||||
Novatek PJSC Sponsored GDR Registered (c) | 1,712 | 234,544 |
MML Strategic Emerging Markets Fund — Portfolio of Investments (Continued) |
Number of Shares | Value | |||||||
Novatek PJSC Sponsored GDR Registered (a) (c) | 31,597 | $ | 4,323,408 | |||||
Polyus PJSC (b) | 2,130 | 447,351 | ||||||
Polyus PJSC GDR (c) (d) | 4,342 | 457,647 | ||||||
Polyus PJSC GDR (c) (d) | 129 | 13,597 | ||||||
Sberbank of Russia PJSC (b) | 802,803 | 2,358,422 | ||||||
7,834,969 | ||||||||
South Africa — 0.6% | ||||||||
FirstRand Ltd. | 337,042 | 828,201 | ||||||
Switzerland — 0.7% | ||||||||
Cie Financiere Richemont SA Registered | 12,810 | 858,024 | ||||||
Taiwan — 8.7% | ||||||||
MediaTek, Inc. | 17,000 | 358,477 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 748,000 | 11,233,895 | ||||||
11,592,372 | ||||||||
Turkey — 0.3% | ||||||||
Akbank T.A.S. (b) | 651,198 | 433,878 | ||||||
United States — 4.1% | ||||||||
Yum China Holdings, Inc. | 103,507 | 5,480,696 | ||||||
TOTAL COMMON STOCK (Cost $104,603,949) | 126,843,763 | |||||||
Preferred Stock — 3.3% | ||||||||
Brazil — 1.7% | ||||||||
Lojas Americanas SA 0.640% | ||||||||
438,159 | 2,215,021 | |||||||
India — 0.0% | ||||||||
Zee Entertainment Enterprises
Ltd. 6.000% | 503,840 | 24,584 | ||||||
Singapore — 1.6% | ||||||||
Grab Holdings,
Inc. (Acquired 6/18/19, Cost $2,160,355) (b) (d) (e) (f) | 350,542 | 2,160,355 | ||||||
TOTAL PREFERRED STOCK (Cost $4,537,114) | 4,399,960 | |||||||
TOTAL EQUITIES (Cost $109,141,063) | 131,243,723 | |||||||
Mutual Funds — 0.2% | ||||||||
United States — 0.2% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (g) | 304,707 | 304,707 | ||||||
TOTAL MUTUAL FUNDS (Cost $304,707) | 304,707 | |||||||
TOTAL LONG-TERM INVESTMENTS (Cost $109,445,770) | 131,548,430 |
MML Strategic Emerging Markets Fund — Portfolio of Investments (Continued) |
Principal Amount | Value | |||||||
Short-Term Investments — 1.7% | ||||||||
Repurchase Agreement — 1.7% | ||||||||
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/30/20, 0.000%, due 10/01/20 (h) | $ | 2,248,141 | $ | 2,248,141 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,248,141) | 2,248,141 | |||||||
TOTAL INVESTMENTS — 100.3% (Cost $111,693,911) (i) | 133,796,571 | |||||||
Other Assets/(Liabilities) — (0.3)% | (371,392 | ) | ||||||
NET ASSETS — 100.0% | $ | 133,425,179 |
Abbreviation Legend
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
(a) | Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2020, was $4,247,601 or 3.18% of net assets. Total securities on loan may be less than the amounts identified in the Portfolio of Investments. The Fund received $4,019,128 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
(b) | Non-income producing security. |
(c) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2020, the aggregate market value of these securities amounted to $10,024,230 or 7.51% of net assets. |
(d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2020, these securities amounted to a value of $2,631,599 or 1.97% of net assets. |
(e) | Investment was valued using significant unobservable inputs. |
(f) | Restricted security. Certain securities are restricted as to resale. At September 30, 2020, these securities amounted to a value of $2,160,355 or 1.62% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
(g) | Represents investment of security lending cash collateral. (Note 2). |
(h) | Maturity value of $2,248,141. Collateralized by U.S. Government Agency obligations with a rate of 2.375%, maturity date of 3/15/22, and an aggregate market value, including accrued interest, of $2,293,114. |
(i) | See Note 3 for aggregate cost for federal tax purposes. |
Notes to Portfolio of Investments (Unaudited) |
1. | The Funds |
MML Series Investment Fund II (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated February 8, 2005, which was amended and restated as of February 28, 2005 and December 15, 2011, as it may be further amended from time to time. The Trust consists of the following series (each individually referred to as a “Fund” or collectively as the “Funds”):
MML Asset Momentum Fund ("Asset Momentum Fund")
MML Blend Fund (“Blend Fund”)
MML Dynamic Bond Fund ("Dynamic Bond Fund")
MML Equity Fund (“Equity Fund”)
MML Equity Rotation Fund ("Equity Rotation Fund")
MML High Yield Fund ("High Yield Fund")
MML Inflation-Protected and Income Fund (“Inflation-Protected and Income Fund”)
MML Managed Bond Fund (“Managed Bond Fund”)
MML Short-Duration Bond Fund ("Short-Duration Bond Fund")
MML Small Cap Equity Fund ("Small Cap Equity Fund")
MML Special Situations Fund ("Special Situations Fund")
MML Strategic Emerging Markets Fund (“Strategic Emerging Markets Fund”)
The Trust makes shares of the Funds available for the investment of assets of various separate investment accounts established by Massachusetts Mutual Life Insurance Company (“MassMutual”) and by life insurance companies which are subsidiaries of MassMutual. Shares of the Trust are not offered to the general public. MassMutual, MML Bay State Life Insurance Company, C.M. Life Insurance Company, and the MML Allocation Funds, which are “funds of funds” series of MML Series Investment Fund, another open-end management investment company sponsored by MassMutual, are the record owners of all of the outstanding shares of the Funds.
2. | Significant Accounting Policies |
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies.
Investment Valuation
The net asset value of each Fund’s shares is determined once daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), on each day the NYSE is open for trading (a “business day”). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes and will instead fair value securities in accordance with procedures approved annually by the Board of Trustees ("Trustees"), and under the general oversight of the Trustees. On holidays and other days when the NYSE is closed, each Fund’s net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund’s assets may still be affected on such days to the extent that a Fund holds foreign securities that trade on days that foreign securities markets are open.
Notes to Portfolio of Investments (Unaudited) (Continued) |
Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System (“NASDAQ System”), or in the case of over-the-counter (“OTC”) securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.
Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral. Restricted securities are generally valued at a discount to similar publicly traded securities.
Investments for which market quotations are not available or for which a pricing service or vendor does not provide a value, or for which such market quotations or values are considered by the investment adviser or subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event) are stated at fair valuations determined in good faith by the Funds' Valuation Committee1 in accordance with procedures approved annually by the Trustees, and under the general oversight of the Trustees. The Funds' Valuation Committee employs various methods to determine fair valuations including a regular review of significant inputs and assumptions and review of any related market activity. The Funds' Valuation Committee reports to the Trustees at its regularly scheduled meetings. It is possible that fair value prices will be used by the Funds to a significant extent. The value determined for an investment using the Funds' fair value procedures may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.
The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.
1 | The voting members of the Valuation Committee consist of the President, Treasurer, Assistant Treasurers, Vice Presidents (except for the CCO, Secretary, and Assistant Secretaries) of the Trust, as well as such other members as the Trustees may from time to time designate. The non-voting members of the Valuation Committee consist of the CCO, Secretary, and Assistant Secretaries. The Valuation Committee reviews and determines the fair valuation of portfolio securities and the Funds’ pricing procedures in general. |
Notes to Portfolio of Investments (Unaudited) (Continued) |
For investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and any other investments fair valued using significant unobservable inputs, as described below, the fair valuation approaches used by third party service providers and/or the Funds’ subadvisers utilize one or a combination of, but not limited to, the following inputs:
Market approach: (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers.
Income approach: (i) future cash flows discounted to present value and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts, and/or default rates.
Cost approach: (i) audited or unaudited financial statements, investor communications, and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company's interests and merger or acquisition activity in companies comparable to the Private Company.
Investments in series of preferred stock issued by Private Companies are typically valued utilizing Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as the current value method (“CVM”), an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”), or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The CVM allocates value among the various parts of a company’s capital structure assuming that the value of convertible preferred stock is represented by the most favorable claim the preferred stockholders have on the enterprise value as of the valuation date. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.
The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by a Fund. Typically, the most recently available information for a Private Company is as of a date that is earlier than the date a Fund is calculating its net asset value. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.
Notes to Portfolio of Investments (Unaudited) (Continued) |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
Level 1 – quoted prices (unadjusted) in active markets for identical investments that the Funds can access at the measurement date
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.
In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.
The Equity Rotation Fund, Small Cap Equity Fund, and Special Situations Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of September 30, 2020. 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 September 30, 2020, for the remaining Funds' investments:
Asset Momentum Fund | |||||||||||||||||
Asset Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stock | $ | 5,925,778 | $ | 2,645,574 | * | $ | — | $ | 8,571,352 | ||||||||
U.S. Treasury Obligations | — | 9,070,012 | — | 9,070,012 | |||||||||||||
Mutual Funds | 17,622,193 | — | — | 17,622,193 | |||||||||||||
Short-Term Investments | — | 5,383,393 | — | 5,383,393 | |||||||||||||
Total Investments | $ | 23,547,971 | $ | 17,098,979 | $ | — | $ | 40,646,950 | |||||||||
Asset Derivatives | |||||||||||||||||
Futures Contracts | $ | 8,708 | $ | — | $ | — | $ | 8,708 | |||||||||
Liability Derivatives | |||||||||||||||||
Futures Contracts | $ | (210,375 | ) | $ | — | $ | — | $ | (210,375 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Blend Fund |
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 483,866,527 | $ | — | $ | — | $ | 483,866,527 | ||||||||
Preferred Stock | 519,400 | — | — | 519,400 | ||||||||||||
Corporate Debt | — | 100,131,787 | — | 100,131,787 | ||||||||||||
Municipal Obligations | — | 958,691 | — | 958,691 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 77,942,740 | — | 77,942,740 | ||||||||||||
Sovereign Debt Obligations | — | 1,908,282 | — | 1,908,282 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 57,658,810 | — | 57,658,810 | ||||||||||||
U.S. Treasury Obligations | — | 7,645,947 | — | 7,645,947 | ||||||||||||
Purchased Options | — | 398,474 | — | 398,474 | ||||||||||||
Rights | 57,546 | — | — | 57,546 | ||||||||||||
Warrants | 1,359 | — | — | 1,359 | ||||||||||||
Mutual Funds | 341,438 | — | — | 341,438 | ||||||||||||
Short-Term Investments | — | 41,949,440 | — | 41,949,440 | ||||||||||||
Total Investments | $ | 484,786,270 | $ | 288,594,171 | $ | — | $ | 773,380,441 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 18,526 | $ | — | $ | — | $ | 18,526 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (382,122 | ) | $ | — | $ | — | $ | (382,122 | ) | ||||||
Swap Agreements | — | (43,766 | ) | — | (43,766 | ) | ||||||||||
Total | $ | (382,122 | ) | $ | (43,766 | ) | $ | — | $ | (425,888 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Dynamic Bond Fund | ||||||||||||||||
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Bank Loans (Less Unfunded Loan Commitments) | $ | — | $ | 12,636,408 | $ | — | $ | 12,636,408 | ||||||||
Corporate Debt | — | 89,062,627 | — | 89,062,627 | ||||||||||||
Municipal Obligations | — | 484,720 | — | 484,720 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 88,348,064 | — | 88,348,064 | ||||||||||||
Sovereign Debt Obligations | — | 3,999,124 | — | 3,999,124 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 67,082,837 | — | 67,082,837 | ||||||||||||
U.S. Treasury Obligations | — | 92,376,378 | — | 92,376,378 | ||||||||||||
Short-Term Investments | — | 11,326,010 | — | 11,326,010 | ||||||||||||
Unfunded Loan Commitments** | — | 369 | — | 369 | ||||||||||||
Total Investments | $ | — | $ | 365,316,537 | $ | — | $ | 365,316,537 |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Equity Fund | ||||||||||||||||
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 679,137,287 | $ | 591,093 | $ | — | $ | 679,728,380 | ||||||||
Preferred Stock | 424,910 | — | — | 424,910 | ||||||||||||
Mutual Funds | 15,261,843 | — | — | 15,261,843 | ||||||||||||
Short-Term Investments | 1,501,349 | 2,357,493 | — | 3,858,842 | ||||||||||||
Total Investments | $ | 696,325,389 | $ | 2,948,586 | $ | — | $ | 699,273,975 |
Notes to Portfolio of Investments (Unaudited) (Continued) |
High Yield Fund | ||||||||||||||||
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | $ | 143,704 | $ | 163 | $ | — | + | $ | 143,867 | |||||||
Bank Loans | — | 5,072,431 | — | 5,072,431 | ||||||||||||
Corporate Debt | — | 111,030,305 | 225,280 | 111,255,585 | ||||||||||||
Warrants | — | — | — | + | — | |||||||||||
Total Investments | $ | 143,704 | $ | 116,102,899 | $ | 225,280 | $ | 116,471,883 |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Inflation-Protected and Income Fund | ||||||||||||||||
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Municipal Obligations | $ | — | $ | 24,811 | $ | — | $ | 24,811 | ||||||||
Non-U.S. Government Agency Obligations | — | 209,567,714 | — | 209,567,714 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 15,522,468 | — | 15,522,468 | ||||||||||||
U.S. Treasury Obligations | — | 73,943,160 | — | 73,943,160 | ||||||||||||
Purchased Options | — | 1,192,932 | — | 1,192,932 | ||||||||||||
Short-Term Investments | — | 35,277,696 | — | 35,277,696 | ||||||||||||
Total Investments | $ | — | $ | 335,528,781 | $ | — | $ | 335,528,781 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 43,695 | $ | — | $ | — | $ | 43,695 | ||||||||
Swap Agreements | — | 2,066,129 | — | 2,066,129 | ||||||||||||
Total | $ | 43,695 | $ | 2,066,129 | $ | — | $ | 2,109,824 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (23,531 | ) | $ | — | $ | — | $ | (23,531 | ) | ||||||
Swap Agreements | — | (576,837 | ) | — | (576,837 | ) | ||||||||||
Total | $ | (23,531 | ) | $ | (576,837 | ) | $ | — | $ | (600,368 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Managed Bond Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Preferred Stock | $ | 2,467,150 | $ | — | $ | — | $ | 2,467,150 | ||||||||
Corporate Debt | — | 416,487,002 | — | 416,487,002 | ||||||||||||
Municipal Obligations | — | 4,621,304 | — | 4,621,304 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 324,337,195 | — | 324,337,195 | ||||||||||||
Sovereign Debt Obligations | — | 7,650,479 | — | 7,650,479 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 238,230,487 | — | 238,230,487 | ||||||||||||
U.S. Treasury Obligations | — | 33,891,069 | — | 33,891,069 | ||||||||||||
Purchased Options | — | 2,018,451 | — | 2,018,451 | ||||||||||||
Short-Term Investments | — | 163,460,895 | — | 163,460,895 | ||||||||||||
Total Investments | $ | 2,467,150 | $ | 1,190,696,882 | $ | — | $ | 1,193,164,032 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 83,898 | $ | — | $ | — | $ | 83,898 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (1,510,316 | ) | $ | — | $ | — | $ | (1,510,316 | ) | ||||||
Swap Agreements | — | (187,569 | ) | — | (187,569 | ) | ||||||||||
Total | $ | (1,510,316 | ) | $ | (187,569 | ) | $ | — | $ | (1,697,885 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Short-Duration Bond Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Corporate Debt | $ | — | $ | 76,430,855 | $ | — | $ | 76,430,855 | ||||||||
Municipal Obligations | — | 457,110 | — | 457,110 | ||||||||||||
Non-U.S. Government Agency Obligations | — | 99,493,463 | — | 99,493,463 | ||||||||||||
U.S. Government Agency Obligations and Instrumentalities | — | 3,253,859 | — | 3,253,859 | ||||||||||||
U.S. Treasury Obligations | — | 1,327,438 | — | 1,327,438 | ||||||||||||
Purchased Options | — | 76,230 | — | 76,230 | ||||||||||||
Short-Term Investments | — | 11,998,009 | — | 11,998,009 | ||||||||||||
Total Investments | $ | — | $ | 193,036,964 | $ | — | $ | 193,036,964 | ||||||||
Asset Derivatives | ||||||||||||||||
Futures Contracts | $ | 22,075 | $ | — | $ | — | $ | 22,075 | ||||||||
Liability Derivatives | ||||||||||||||||
Futures Contracts | $ | (237,918 | ) | $ | — | $ | — | $ | (237,918 | ) | ||||||
Swap Agreements | — | (35,430 | ) | — | (35,430 | ) | ||||||||||
Total | $ | (237,918 | ) | $ | (35,430 | ) | $ | — | $ | (273,348 | ) |
Notes to Portfolio of Investments (Unaudited) (Continued) |
Strategic Emerging Markets Fund
Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock* | ||||||||||||||||
Belgium | $ | — | $ | 1,321,749 | $ | — | $ | 1,321,749 | ||||||||
Bermuda | 1,473,125 | 934,885 | — | 2,408,010 | ||||||||||||
Brazil | 3,109,016 | — | — | 3,109,016 | ||||||||||||
Cayman Islands | 20,203,492 | 14,070,530 | — | 34,274,022 | ||||||||||||
Chile | 955,980 | — | — | 955,980 | ||||||||||||
China | — | 6,614,204 | — | 6,614,204 | ||||||||||||
Colombia | 437,139 | — | — | 437,139 | ||||||||||||
Egypt | — | 1,168,105 | — | 1,168,105 | ||||||||||||
France | — | 7,972,693 | — | 7,972,693 | ||||||||||||
Hong Kong | — | 5,349,190 | — | 5,349,190 | ||||||||||||
India | — | 15,767,492 | — | 15,767,492 | ||||||||||||
Indonesia | — | 1,439,759 | — | 1,439,759 | ||||||||||||
Italy | — | 2,516,826 | — | 2,516,826 | ||||||||||||
Mexico | 6,190,640 | — | — | 6,190,640 | ||||||||||||
Netherlands | 4,821,453 | — | — | 4,821,453 | ||||||||||||
Philippines | — | 3,259,348 | — | 3,259,348 | ||||||||||||
Republic of Korea | — | 2,209,997 | — | 2,209,997 | ||||||||||||
Russia | 234,544 | 7,600,425 | — | 7,834,969 | ||||||||||||
South Africa | — | 828,201 | — | 828,201 | ||||||||||||
Switzerland | — | 858,024 | — | 858,024 | ||||||||||||
Taiwan | — | 11,592,372 | — | 11,592,372 | ||||||||||||
Turkey | — | 433,878 | — | 433,878 | ||||||||||||
United States | 5,480,696 | — | — | 5,480,696 | ||||||||||||
Preferred Stock | ||||||||||||||||
Brazil | 2,215,021 | — | — | 2,215,021 | ||||||||||||
India | 24,584 | — | — | 24,584 | ||||||||||||
Singapore | — | — | 2,160,355 | 2,160,355 | ||||||||||||
Mutual Funds | 304,707 | — | — | 304,707 | ||||||||||||
Short-Term Investments | — | 2,248,141 | — | 2,248,141 | ||||||||||||
Total Investments | $ | 45,450,397 | $ | 86,185,819 | $ | 2,160,355 | $ | 133,796,571 |
Notes to Portfolio of Investments (Unaudited) (Continued) |
* | 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 September 30, 2020. |
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 September 30, 2020, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan.
Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower (“Borrowing Agreement”), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.
Notes to Portfolio of Investments (Unaudited) (Continued) |
Accounting for Investment Transactions
Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain. The Funds determine the classification of distributions received as return of capital distributions or capital gain distributions.
Foreign Currency Translation
The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.
Foreign Securities
The Strategic Emerging Markets Fund invests substantially all of its assets in foreign securities. The other Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in currency exchange rates may adversely affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.
Federal Income Tax
It is each Fund's intent to continue to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for federal income tax.
Dividends and Distributions to Shareholders
Dividends from net investment income and distributions of any net realized capital gains of each Fund are declared and paid annually and at other times as may be required to satisfy tax or regulatory requirements.
Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. As a result, net investment income and net realized capital gains on investment transactions for a reporting period may differ significantly from distributions during such period.
Notes to Portfolio of Investments (Unaudited) (Continued) |
3. | Federal Income Tax Information |
At September 30, 2020, 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) | |||||||||||||
Asset Momentum Fund | $ | 37,069,260 | $ | 4,560,797 | $ | (983,107 | ) | $ | 3,577,690 | |||||||
Blend Fund | 598,623,352 | 190,753,946 | (15,996,857 | ) | 174,757,089 | |||||||||||
Dynamic Bond Fund | 360,150,207 | 14,997,191 | (9,830,861 | ) | 5,166,330 | |||||||||||
Equity Fund | 632,692,629 | 100,723,613 | (34,142,267 | ) | 66,581,346 | |||||||||||
Equity Rotation Fund | 29,545,839 | 7,998,975 | (1,623,882 | ) | 6,375,093 | |||||||||||
High Yield Fund | 120,188,007 | 4,325,450 | (8,041,574 | ) | (3,716,124 | ) | ||||||||||
Inflation-Protected and Income Fund | 331,846,642 | 6,407,579 | (2,725,440 | ) | 3,682,139 | |||||||||||
Managed Bond Fund | 1,172,427,666 | 41,700,186 | (20,963,820 | ) | 20,736,366 | |||||||||||
Short-Duration Bond Fund | 192,496,006 | 3,542,378 | (3,001,420 | ) | 540,958 | |||||||||||
Small Cap Equity Fund | 91,526,405 | 28,096,675 | (14,264,070 | ) | 13,832,605 | |||||||||||
Special Situations Fund | 25,688,860 | 5,600,692 | (2,098,503 | ) | 3,502,189 | |||||||||||
Strategic Emerging Markets Fund | 111,693,911 | 31,706,178 | (9,603,518 | ) | 22,102,660 |
Notes to Portfolio of Investments (Unaudited) (Continued) |
4. | New Accounting Pronouncements |
In March 2020, FASB issued Accounting Standards Update 2020-04 — Reference Rate Reform (Topic 848) — Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides optional temporary financial reporting relief from the effect of certain types of contract modifications due to the planned discontinuation of the London Interbank Offered Rate (“LIBOR”) and other interbank-offered based reference rates as of the end of 2021. ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management is currently evaluating the impact, if any, of applying ASU 2020-04.
In October 2020, Accounting Standards Update 2017-08, Receivables --Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”) was amended by Accounting Standards Update 2020-08, Codification Improvements to Subtopic 310-20, Receivables --Nonrefundable Fees and Other Costs (“ASU 2020-08”). ASU 2020-08 requires entities to reevaluate whether callable debt securities fall within the scope of ASU 2017-08 at each reporting period. ASU 2020-08 also amends the relevant guidance to require premiums to be amortized to the “next call date” rather than the “earliest call date,” and further clarifies the definition of “next call date.” ASU 2020-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption of ASU 2020-08 is not permitted. Management is currently evaluating the impact, if any, of applying ASU 2020-08.
5. | Legal Proceedings |
On December 7, 2010, the Trust was named as a defendant and putative member of the proposed defendant class of shareholders named in an adversary proceeding brought by The Official Committee of Unsecured Creditors of Tribune Company (the “Official Committee”) in the U.S. Bankruptcy Court for the District of Delaware, in connection with Tribune Company’s Chapter 11 bankruptcy proceeding (In re Tribune Company). The proceeding relates to a leveraged buyout (“LBO”) transaction by which Tribune Company converted to a privately-held company in 2007, and the putative defendant class is comprised of beneficial owners of shares of Tribune Company who received proceeds (the “Proceeds”) of the LBO. The Official Committee seeks to recover payments of those Proceeds. On April 5, 2012, the adversary proceeding was transferred to the Southern District of New York for consolidated pretrial proceedings. The action is now being prosecuted by the litigation trustee (“Trustee”) for the Tribune Litigation Trust.
The potential amounts sought to be recovered from the Blend Fund and Small Cap Equity Fund are approximately $207,400 and $93,500, respectively, plus interest and the Official Committee’s court costs.
In addition, on June 2, 2011, the Blend Fund was named as a defendant in a closely related, parallel adversary proceeding brought in connection with the Tribune Company’s LBO by Deutsche Bank Trust Company Americas, in its capacity as successor indenture trustee for a certain series of Senior Notes, Law Debenture Trust Company of New York, in its capacity as successor indenture trustee for a certain series of Senior Notes, and Wilmington Trust Company, in its capacity as successor indenture trustee for the PHONES Notes (together, the “Plaintiffs”), in the United States District Court for the District of Massachusetts. The Plaintiffs also seek to recover payments of the Proceeds. On December 20, 2011, this action was transferred to the Southern District of New York for consolidated pretrial proceedings.
The Funds cannot predict the outcome of these proceedings. Accordingly, the Funds have not accrued any amounts related to these proceedings. If the proceedings were to be decided in a manner adverse to the Funds, or if the Funds were to enter into a settlement agreement with the Trustee or the Plaintiffs, as applicable, the payment of such judgment or settlement could potentially have a material adverse effect on the Funds' net asset value depending on the net assets of each applicable Fund at the time of such judgment or settlement.
Notes to Portfolio of Investments (Unaudited) (Continued) |
6. | Coronavirus (COVID-19) Pandemic |
The global pandemic outbreak of the novel coronavirus known as COVID-19 has produced, and will likely continue to produce, substantial market volatility, severe market dislocations and liquidity constraints in many markets, and global business disruption, and it may result in future significant adverse effects, such as exchange trading suspensions and closures, declines in global financial markets, higher default rates, and a substantial economic downturn or recession throughout the world. Such factors may have a significant adverse effect on a Fund’s performance and have the potential to impair the ability of a Fund’s investment adviser, subadvisers, or other service providers to serve the Fund and could lead to disruptions that negatively impact the Fund.
7. | Subsequent Events |
Effective November 18, 2020, the Asset Momentum Fund changed its name to the MML Equity Momentum Fund.