0001398344-23-021823.txt : 20231129 0001398344-23-021823.hdr.sgml : 20231129 20231129114833 ACCESSION NUMBER: 0001398344-23-021823 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231129 DATE AS OF CHANGE: 20231129 PERIOD START: 20231231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MML SERIES INVESTMENT FUND CENTRAL INDEX KEY: 0000067160 IRS NUMBER: 042476032 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-02224 FILM NUMBER: 231450043 BUSINESS ADDRESS: STREET 1: 1295 STATE STREET CITY: SPRINGFIELD STATE: MA ZIP: 01111 BUSINESS PHONE: 413-744-1000 MAIL ADDRESS: STREET 1: 1295 STATE STREET CITY: SPRINGFIELD STATE: MA ZIP: 01111 FORMER COMPANY: FORMER CONFORMED NAME: MML EQUITY INVESTMENT CO INC DATE OF NAME CHANGE: 19850227 FORMER COMPANY: FORMER CONFORMED NAME: MML INVESTMENT CO INC DATE OF NAME CHANGE: 19811109 0000067160 S000018541 MML Moderate Allocation Fund C000051437 Initial Class C000067780 Service Class NPORT-P 1 primary_doc.xml NPORT-P false 0000067160 XXXXXXXX S000018541 C000051437 C000067780 MML SERIES INVESTMENT FUND 811-02224 0000067160 VQ1HG47DNRJG3HBJH467 1295 State Street Springfield 01111-0001 4137441000 MML Moderate Allocation Fund S000018541 549300K83VW6FJ00TG70 2023-12-31 2023-09-30 N 1131090886.66 2557052.8 1128533833.86 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N INVESCO VI GLOBAL STRATEGIC IN 5493008ONMVUBK1SII17 INVESCO GLB STRTR INC SI 00900X884 3404001.083 NS USD 13684084.35 1.212554195491 Long EC RF US N 1 N N N MML BLUE CHIP GROWTH FD 5493005CPH29995E7509 MUTUAL FUND 553097742 4643207.568 NS USD 65190634.25 5.776577741318 Long EC RF US N 1 N N N MML DYNAMIC BOND FUND 549300NGRYJ7PDBF2R17 DYNAMIC BD FD CL II 55312G689 11559319.897 NS USD 91203033.99 8.08155070354 Long EC RF US N 1 N N N MML EQUITY INCOME FD 549300NLQECK0VBFCG40 MUTUAL FUND 553097775 6219833.332 NS USD 55729706.65 4.938239774291 Long EC RF US N 1 N N N MML FOCUSED EQUITY FUND 549300SLRZRGITT1HD33 MUTUAL FUND 553097197 15793995.257 NS USD 102976849.08 9.124834895537 Long EC RF US N 1 N N N MML FOREIGN FD KUU66DUKIL2JQ2M4M983 MUTUAL FUND 553097650 3433399.881 NS USD 29664574.97 2.628594206036 Long EC RF US N 1 N N N MML FUNDAMENTAL GROWTH FUND 5493004SX3XV4PR5XZ31 MUTUAL FUND 553097171 4759328.062 NS USD 43738224.89 3.875668019664 Long EC RF US N 1 N N N MML FUNDAMENTAL VALUE FUND 549300C6NIUE0KC40C89 MUTUAL FUND 553097213 5229366.805 NS USD 57993677.87 5.138851501832 Long EC RF US N 1 N N N MML GLOBAL FD 8T9HINFCQAU4P1AO8856 MUTUAL FUND 553097668 8614785.276 NS USD 32994627.61 2.923671991042 Long EC RF US N 1 N N N MML HIGH YIELD FUND OY83G6ZQVMBD0GRMDD62 MUTUAL FUND 55312G739 368993.754 NS USD 2966709.78 0.262881775538 Long EC RF US N 1 N N N MML INCOME AND GROWTH FD UQWC7R69CJ01IKYBPI08 MUTUAL FUND 553097767 3145552.539 NS USD 28844716.78 2.555946123595 Long EC RF US N 1 N N N MML INFLATION PROTECTED BD FD 6GN6GDL3K7U3DFNZ8J62 MUTUAL FUND 55312G200 2381518.738 NS USD 19790420.71 1.75363999875 Long EC RF US N 1 N N N MML INTERNATIONAL EQUITY FUND 549300H6NY8A0TMQJW78 MUTUAL FUND 553097155 9447308.752 NS USD 87387605.96 7.743463539866 Long EC RF US N 1 N N N MML LARGE CAP GROWTH FD 5493005JIDUT7TI47C17 MUTUAL FUND 553097734 4303461.852 NS USD 52416165.36 4.644625069035 Long EC RF US N 1 N N N MML MANAGED BOND FUND P1YXM1SSOECE52ITGE86 MUTUAL FUND 55312G309 14363087.998 NS USD 145188915.95 12.865269218682 Long EC RF US N 1 N N N MML MID CAP GROWTH FD 5493005302W8XSI8PO73 MUTUAL FUND 553097692 4126141.098 NS USD 39693477.36 3.517260729723 Long EC RF US N 1 N N N MML MID CAP VALUE FD OTUI2C89WJJ8N9HWQ618 MUTUAL FUND 553097718 4229019.038 NS USD 30279776.31 2.683107533111 Long EC RF US N 1 N N N MML SHORT DURATION BOND FUND XL07OZJZFFLZ255H7071 MUTUAL FUND 55312G754 4807048.99 NS USD 41580973.76 3.684512817642 Long EC RF US N 1 N N N MML SMALL CAP GROWTH EQUITY FD HQ4SSOSDU7DRRXL6HW28 MUTUAL FUND 553097205 952393.666 NS USD 8299836.51 0.735453050762 Long EC RF US N 1 N N N MML SMALL COMPANY VALUE FUND 549300QHTZT44DQGZI95 MUTUAL FUND 553097262 2280758.794 NS USD 16968845.43 1.503618670604 Long EC RF US N 1 N N N MML SMALL/MID CAP VALUE 5493001OCN5BF7GVLF58 MUTUAL FUND 553097684 1252395.474 NS USD 9781208.65 0.866718245969 Long EC RF US N 1 N N N MML STRG EMERGING MARKETS FUND UUQILHQK9J5HZYCT1J23 MUTUAL FUND 55312G770 2640882.814 NS USD 13125187.59 1.163030048032 Long EC RF US N 1 N N N MML TOTAL RETURN BOND FUND E6C49Z35RNRPSZ4OIX81 MUTUAL FUND 553097221 15242945.366 NS USD 127888311.62 11.332253210573 Long EC RF US N 1 N N N PIMCO VARIABLE INSURANCE TRUST 1HF6TMDVSLQTVB8TF611 PIMCO VIT LG TERM GOVT INS 693394710 1709608.788 NS USD 12155318.48 1.077089415957 Long EC RF US N 1 N N N 2023-11-28 MML SERIES INVESTMENT FUND /s/ Renee Hitchcock Renee Hitchcock Treasurer and CFO XXXX NPORT-EX 2 fp0085440-16_nportex.htm

 

MML Conservative Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 39.7%          
MML Blue Chip Growth Fund, Initial Class (a)   820,093   $11,514,099 
MML Equity Income Fund, Initial Class (a)   1,179,563    10,568,881 
MML Focused Equity Fund, Class II (a)   2,105,637    13,728,751 
MML Foreign Fund, Initial Class (a)   607,462    5,248,472 
MML Fundamental Equity Fund, Class II (a)   751,988    6,910,771 
MML Fundamental Value Fund, Class II (a)   823,527    9,132,920 
MML Global Fund, Class I (a)   1,385,103    5,304,944 
MML Income & Growth Fund, Initial Class (a)   354,077    3,246,886 
MML International Equity Fund, Class II (a)   1,515,029    14,014,015 
MML Large Cap Growth Fund, Initial Class (a)   642,231    7,822,368 
MML Mid Cap Growth Fund, Initial Class (a)   678,926    6,531,273 
MML Mid Cap Value Fund, Initial Class (a)   772,014    5,527,623 
MML Small Cap Growth Equity Fund, Initial Class (a)   41,626    362,759 
MML Small Company Value Fund, Class II (a)   383,661    2,854,437 
MML Small/Mid Cap Value Fund, Initial Class (a)   184,294    1,439,336 
MML Strategic Emerging Markets Fund, Class II (a)   470,091    2,336,354 
         106,543,889 
Fixed Income Funds — 60.4%          
Invesco V.I. Global Strategic Income Fund, Series I (b)   1,402,918    5,639,730 
MML Dynamic Bond Fund, Class II (a)   4,126,246    32,556,078 
MML High Yield Fund, Class II (a)   96,502    775,874 
MML Inflation-Protected and Income Fund, Initial Class (a)   874,809    7,269,666 
MML Managed Bond Fund, Initial Class (a)   5,143,434    51,992,276 
MML Short-Duration Bond Fund, Class II (a)   1,664,644    14,399,170 
MML Total Return Bond Fund, Class II (a)   5,451,350    45,736,824 
PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio, Institutional Shares   517,898    3,682,254 
         162,051,872 
           
TOTAL MUTUAL FUNDS
(Cost $321,456,075)
        268,595,761 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $321,456,075)
        268,595,761 
           
TOTAL INVESTMENTS — 100.1%
(Cost $321,456,075) (c)
        268,595,761 
           
Other Assets/(Liabilities) — (0.1)%        (271,882) 
           
NET ASSETS — 100.0%       $268,323,879 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer.
(b) Non-income producing security.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Balanced Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 49.7%          
MML Blue Chip Growth Fund, Initial Class (a)   1,102,036   $15,472,586 
MML Equity Income Fund, Initial Class (a)   1,578,658    14,144,778 
MML Focused Equity Fund, Class II (a)   4,006,123    26,119,923 
MML Foreign Fund, Initial Class (a)   823,402    7,114,195 
MML Fundamental Equity Fund, Class II (a)   1,130,305    10,387,506 
MML Fundamental Value Fund, Class II (a)   1,034,890    11,476,929 
MML Global Fund, Class I (a)   2,139,866    8,195,687 
MML Income & Growth Fund, Initial Class (a)   847,816    7,774,470 
MML International Equity Fund, Class II (a)   2,239,313    20,713,646 
MML Large Cap Growth Fund, Initial Class (a)   921,620    11,225,333 
MML Mid Cap Growth Fund, Initial Class (a)   854,134    8,216,773 
MML Mid Cap Value Fund, Initial Class (a)   1,159,325    8,300,765 
MML Small Cap Growth Equity Fund, Initial Class (a)   76,215    664,191 
MML Small Company Value Fund, Class II (a)   457,605    3,404,584 
MML Small/Mid Cap Value Fund, Initial Class (a)   255,989    1,999,274 
MML Strategic Emerging Markets Fund, Class II (a)   636,861    3,165,200 
         158,375,840 
Fixed Income Funds — 50.4%          
Invesco V.I. Global Strategic Income Fund, Series I (b)   1,404,007    5,644,107 
MML Dynamic Bond Fund, Class II (a)   4,061,115    32,042,201 
MML High Yield Fund, Class II (a)   100,224    805,799 
MML Inflation-Protected and Income Fund, Initial Class (a)   1,021,599    8,489,485 
MML Managed Bond Fund, Initial Class (a)   5,118,711    51,742,358 
MML Short-Duration Bond Fund, Class II (a)   1,507,648    13,041,154 
MML Total Return Bond Fund, Class II (a)   5,390,738    45,228,296 
PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio, Institutional Shares   532,440    3,785,652 
         160,779,052 
           
TOTAL MUTUAL FUNDS
(Cost $373,681,896)
        319,154,892 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $373,681,896)
        319,154,892 
           
TOTAL INVESTMENTS — 100.1%
(Cost $373,681,896) (c)
        319,154,892 
           
Other Assets/(Liabilities) — (0.1)%        (326,400) 
           
NET ASSETS — 100.0%       $318,828,492 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer.
(b) Non-income producing security.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Moderate Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 59.8%          
MML Blue Chip Growth Fund, Initial Class (a)   4,643,208   $65,190,634 
MML Equity Income Fund, Initial Class (a)   6,219,833    55,729,707 
MML Focused Equity Fund, Class II (a)   15,793,995    102,976,849 
MML Foreign Fund, Initial Class (a)   3,433,400    29,664,575 
MML Fundamental Equity Fund, Class II (a)   4,759,328    43,738,225 
MML Fundamental Value Fund, Class II (a)   5,229,367    57,993,678 
MML Global Fund, Class I (a)   8,614,785    32,994,628 
MML Income & Growth Fund, Initial Class (a)   3,145,553    28,844,717 
MML International Equity Fund, Class II (a)   9,447,309    87,387,606 
MML Large Cap Growth Fund, Initial Class (a)   4,303,462    52,416,165 
MML Mid Cap Growth Fund, Initial Class (a)   4,126,141    39,693,477 
MML Mid Cap Value Fund, Initial Class (a)   4,229,019    30,279,776 
MML Small Cap Growth Equity Fund, Initial Class (a)   952,394    8,299,836 
MML Small Company Value Fund, Class II (a)   2,280,759    16,968,845 
MML Small/Mid Cap Value Fund, Initial Class (a)   1,252,395    9,781,209 
MML Strategic Emerging Markets Fund, Class II (a)   2,640,883    13,125,188 
         675,085,115 
Fixed Income Funds — 40.3%          
Invesco V.I. Global Strategic Income Fund, Series I (b)   3,404,001    13,684,084 
MML Dynamic Bond Fund, Class II (a)   11,559,320    91,203,034 
MML High Yield Fund, Class II (a)   368,994    2,966,710 
MML Inflation-Protected and Income Fund, Initial Class (a)   2,381,519    19,790,421 
MML Managed Bond Fund, Initial Class (a)   14,363,088    145,188,916 
MML Short-Duration Bond Fund, Class II (a)   4,807,049    41,580,974 
MML Total Return Bond Fund, Class II (a)   15,242,945    127,888,312 
PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio, Institutional Shares   1,709,609    12,155,318 
         454,457,769 
           
TOTAL MUTUAL FUNDS
(Cost $1,334,367,840)
        1,129,542,884 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $1,334,367,840)
        1,129,542,884 
           
TOTAL INVESTMENTS — 100.1%
(Cost $1,334,367,840) (c)
        1,129,542,884 
           
Other Assets/(Liabilities) — (0.1)%        (1,009,050) 
           
NET ASSETS — 100.0%       $1,128,533,834 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer.
(b) Non-income producing security.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Growth Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 74.8%          
MML Blue Chip Growth Fund, Initial Class (a)   4,829,977   $67,812,884 
MML Equity Income Fund, Initial Class (a)   5,802,608    51,991,366 
MML Focused Equity Fund, Class II (a)   14,460,523    94,282,607 
MML Foreign Fund, Initial Class (a)   3,219,515    27,816,608 
MML Fundamental Equity Fund, Class II (a)   5,237,593    48,133,484 
MML Fundamental Value Fund, Class II (a)   4,545,546    50,410,110 
MML Global Fund, Class I (a)   8,363,527    32,032,309 
MML Income & Growth Fund, Initial Class (a)   4,528,959    41,530,551 
MML International Equity Fund, Class II (a)   8,825,004    81,631,287 
MML Large Cap Growth Fund, Initial Class (a)   4,241,035    51,655,809 
MML Mid Cap Growth Fund, Initial Class (a)   3,797,006    36,527,199 
MML Mid Cap Value Fund, Initial Class (a)   4,190,292    30,002,489 
MML Small Cap Growth Equity Fund, Initial Class (a)   859,870    7,493,522 
MML Small Company Value Fund, Class II (a)   2,635,550    19,608,488 
MML Small/Mid Cap Value Fund, Initial Class (a)   1,076,586    8,408,137 
MML Strategic Emerging Markets Fund, Class II (a)   2,561,781    12,732,052 
         662,068,902 
Fixed Income Funds — 25.3%          
Invesco V.I. Global Strategic Income Fund, Series I (b)   2,523,500    10,144,471 
MML Dynamic Bond Fund, Class II (a)   5,457,710    43,061,333 
MML High Yield Fund, Class II (a)   476,285    3,829,333 
MML Inflation-Protected and Income Fund, Initial Class (a)   1,500,988    12,473,209 
MML Managed Bond Fund, Initial Class (a)   6,832,126    69,062,374 
MML Short-Duration Bond Fund, Class II (a)   2,476,333    21,420,278 
MML Total Return Bond Fund, Class II (a)   6,778,684    56,873,160 
PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio, Institutional Shares   1,061,223    7,545,295 
         224,409,453 
           
TOTAL MUTUAL FUNDS
(Cost $1,038,574,695)
        886,478,355 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $1,038,574,695)
        886,478,355 
           
TOTAL INVESTMENTS — 100.1%
(Cost $1,038,574,695) (c)
        886,478,355 
           
Other Assets/(Liabilities) — (0.1)%        (681,981) 
           
NET ASSETS — 100.0%       $885,796,374 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer.
(b) Non-income producing security.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Aggressive Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 90.1%          
MML Blue Chip Growth Fund, Initial Class (a)   837,634   $11,760,375 
MML Equity Income Fund, Initial Class (a)   938,834    8,411,956 
MML Focused Equity Fund, Class II (a)   2,508,741    16,356,990 
MML Foreign Fund, Initial Class (a)   490,225    4,235,548 
MML Fundamental Equity Fund, Class II (a)   784,383    7,208,484 
MML Fundamental Value Fund, Class II (a)   733,968    8,139,700 
MML Global Fund, Class I (a)   1,300,770    4,981,949 
MML Income & Growth Fund, Initial Class (a)   467,220    4,284,404 
MML International Equity Fund, Class II (a)   1,465,757    13,558,249 
MML Large Cap Growth Fund, Initial Class (a)   746,641    9,094,082 
MML Mid Cap Growth Fund, Initial Class (a)   725,051    6,974,994 
MML Mid Cap Value Fund, Initial Class (a)   730,667    5,231,573 
MML Small Cap Growth Equity Fund, Initial Class (a)   167,709    1,461,535 
MML Small Company Value Fund, Class II (a)   401,000    2,983,443 
MML Small/Mid Cap Value Fund, Initial Class (a)   161,559    1,261,775 
MML Strategic Emerging Markets Fund, Class II (a)   354,757    1,763,143 
         107,708,200 
Fixed Income Funds — 10.0%          
Invesco V.I. Global Strategic Income Fund, Series I (b)   242,718    975,727 
MML Dynamic Bond Fund, Class II (a)   263,864    2,081,884 
MML High Yield Fund, Class II (a)   19,757    158,846 
MML Inflation-Protected and Income Fund, Initial Class (a)   22,804    189,501 
MML Managed Bond Fund, Initial Class (a)   350,952    3,547,594 
MML Short-Duration Bond Fund, Class II (a)   241,295    2,087,198 
MML Total Return Bond Fund, Class II (a)   249,505    2,093,350 
PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio, Institutional Shares   106,830    759,558 
         11,893,658 
           
TOTAL MUTUAL FUNDS
(Cost $141,714,960)
        119,601,858 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $141,714,960)
        119,601,858 
           
TOTAL INVESTMENTS — 100.1%
(Cost $141,714,960) (c)
        119,601,858 
           
Other Assets/(Liabilities) — (0.1)%        (129,538) 
           
NET ASSETS — 100.0%       $119,472,320 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Affiliated issuer.
(b) Non-income producing security.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML American Funds Growth Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 100.1%          
American Funds Insurance Series Growth Fund, Class 1   2,533,436   $220,510,310 
           
TOTAL MUTUAL FUNDS
(Cost $219,176,993)
        220,510,310 
           
TOTAL INVESTMENTS — 100.1%
(Cost $219,176,993) (a)
        220,510,310 
           
Other Assets/(Liabilities) — (0.1)%        (284,343) 
           
NET ASSETS — 100.0%       $220,225,967 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

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

 

 

 

MML American Funds Core Allocation Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
MUTUAL FUNDS — 100.1%          
           
Equity Funds — 65.0%          
American Funds Insurance Series® Growth-Income Fund, Class 1   3,229,590   $171,135,974 
American Funds Insurance Series® International Fund, Class 1   4,658,107    75,042,105 
American Funds Insurance Series® Washington Mutual Investors Fund, Class 1   13,064,273    172,709,683 
         418,887,762 
Fixed Income Funds — 35.1%          
American Funds Insurance Series® The Bond Fund Of America, Class 1   24,529,809    226,164,842 
           
TOTAL MUTUAL FUNDS
(Cost $680,115,321)
        645,052,604 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $680,115,321)
        645,052,604 
           
TOTAL INVESTMENTS — 100.1%
(Cost $680,115,321) (a)
        645,052,604 
           
Other Assets/(Liabilities) — (0.1)%        (812,592) 
           
NET ASSETS — 100.0%       $644,240,012 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

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

 

 

 

MML Blue Chip Growth Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.2%          
           
COMMON STOCK — 99.0%          
Basic Materials — 0.9%          
Chemicals — 0.9%          
Linde PLC (LIN US)   5,326   $1,983,136 
Sherwin-Williams Co.   7,180    1,831,259 
         3,814,395 
Communications — 25.4%          
Internet — 24.4%          
Alphabet, Inc. Class A (a)   49,062    6,420,253 
Alphabet, Inc. Class C (a)   216,556    28,552,908 
Amazon.com, Inc. (a)   249,764    31,750,000 
Booking Holdings, Inc. (a)   1,251    3,858,021 
DoorDash, Inc., Class A (a)   12,349    981,375 
Meta Platforms, Inc. Class A (a)   67,499    20,263,875 
Netflix, Inc. (a)   14,241    5,377,402 
Sea Ltd. ADR (a)   21,962    965,230 
Shopify, Inc. Class A (a)   39,340    2,146,784 
         100,315,848 
Telecommunications — 1.0%          
T-Mobile US, Inc. (a)   29,731    4,163,827 
         104,479,675 
Consumer, Cyclical — 6.3%          
Apparel — 0.3%          
NIKE, Inc. Class B   12,402    1,185,879 
Auto Manufacturers — 2.9%          
Tesla, Inc. (a)   47,567    11,902,215 
Retail — 3.1%          
Carvana Co. (a)   21,500    902,570 
Chipotle Mexican Grill, Inc. (a)   2,015    3,691,138 
Dollar General Corp.   14,548    1,539,178 
Lululemon Athletica, Inc. (a)   5,204    2,006,714 
Ross Stores, Inc.   21,820    2,464,569 
TJX Cos., Inc.   22,271    1,979,447 
         12,583,616 
         25,671,710 

 

 

 

 

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

 

   Number of
Shares
   Value 
Consumer, Non-cyclical — 14.2%          
Commercial Services — 1.0%          
Adyen NV ADR (a)   87,050   $644,170 
Affirm Holdings, Inc. (a) (b)   12,998    276,468 
Ant Group Balance Owed 2023 (Acquired 8/14/23, Cost $280,322) (a) (c) (d) (e)   280,322    274,491 
Cintas Corp.   1,599    769,135 
S&P Global, Inc.   5,723    2,091,241 
         4,055,505 
Food — 0.3%          
Mondelez International, Inc. Class A   17,800    1,235,320 
Health Care – Products — 4.3%          
Align Technology, Inc. (a)   1,374    419,510 
Danaher Corp.   12,584    3,122,090 
Intuitive Surgical, Inc. (a)   20,910    6,111,784 
Stryker Corp.   8,770    2,396,578 
Teleflex, Inc.   2,401    471,581 
Thermo Fisher Scientific, Inc.   10,490    5,309,723 
         17,831,266 
Health Care – Services — 4.6%          
Elevance Health, Inc.   3,750    1,632,825 
Humana, Inc.   6,157    2,995,504 
UnitedHealth Group, Inc.   28,739    14,489,916 
         19,118,245 
Pharmaceuticals — 4.0%          
AstraZeneca PLC Sponsored ADR   16,019    1,084,807 
Eli Lilly & Co.   23,835    12,802,493 
Zoetis, Inc.   13,909    2,419,888 
         16,307,188 
         58,547,524 
Energy — 0.4%          
Oil & Gas Services — 0.4%          
Schlumberger NV   26,600    1,550,780 
Financial — 8.8%          
Banks — 0.7%          
Goldman Sachs Group, Inc.   3,194    1,033,483 
Morgan Stanley   23,532    1,921,858 
         2,955,341 
Diversified Financial Services — 6.3%          
Charles Schwab Corp.   25,797    1,416,255 
Mastercard, Inc. Class A   28,675    11,352,719 
Visa, Inc. Class A   57,899    13,317,349 
         26,086,323 

 

 

 

 

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

 

   Number of
Shares
   Value 
Insurance — 1.8%          
Chubb Ltd.   21,299   $4,434,026 
Marsh & McLennan Cos., Inc.   15,031    2,860,399 
         7,294,425 
         36,336,089 
Industrial — 1.4%          
Aerospace & Defense — 0.3%          
TransDigm Group, Inc. (a)   1,186    999,952 
Electronics — 0.2%          
TE Connectivity Ltd.   5,983    739,080 
Miscellaneous - Manufacturing — 0.5%          
General Electric Co.   19,069    2,108,078 
Transportation — 0.4%          
Old Dominion Freight Line, Inc.   4,398    1,799,398 
         5,646,508 
Technology — 41.1%          
Computers — 10.4%          
Apple, Inc.   243,653    41,715,830 
Crowdstrike Holdings, Inc. Class A (a)   3,918    655,795 
Fortinet, Inc. (a)   7,159    420,090 
         42,791,715 
Semiconductors — 9.4%          
Advanced Micro Devices, Inc. (a)   22,221    2,284,763 
ASML Holding NV   7,145    4,205,976 
Lam Research Corp.   1,170    733,321 
Marvell Technology, Inc.   20,063    1,086,010 
Monolithic Power Systems, Inc.   4,667    2,156,154 
NVIDIA Corp.   59,162    25,734,878 
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR   15,369    1,335,566 
Texas Instruments, Inc.   8,512    1,353,493 
         38,890,161 
Software — 21.3%          
Atlassian Corp. Class A (a)   7,797    1,571,174 
Bill Holdings, Inc. (a)   12,541    1,361,576 
Canva, Inc. (Acquired 8/16/21-12/17/21, Cost $582,930) (a) (c) (d) (e)   342    364,798 
Confluent, Inc. Class A (a)   18,846    558,030 
Datadog, Inc. Class A (a)   7,682    699,753 
Fiserv, Inc. (a)   7,763    876,909 
Gusto, Inc. (Acquired 10/04/21, Cost $193,055) (a) (c) (d) (e)   6,706    103,138 
Intuit, Inc.   10,003    5,110,933 
Microsoft Corp.   173,890    54,905,768 
MongoDB, Inc. (a)   6,530    2,258,466 
MSCI, Inc.   1,042    534,629 
Roper Technologies, Inc.   6,473    3,134,744 
ServiceNow, Inc. (a)   16,369    9,149,616 
Snowflake, Inc. Class A (a)   5,158    787,988 
Synopsys, Inc. (a)   11,189    5,135,415 

 

 

 

 

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

 

   Number of
Shares
   Value 
Veeva Systems, Inc. Class A (a)   5,099   $1,037,392 
         87,590,329 
         169,272,205 
Utilities — 0.5%          
Electric — 0.5%          
Constellation Energy Corp.   17,700    1,930,715 
           
TOTAL COMMON STOCK
(Cost $299,509,485)
        407,249,601 
           
PREFERRED STOCK — 0.2%          
Technology — 0.2%          
Software — 0.2%          
Canva, Inc., Series A (Acquired 11/04/21-12/17/21, Cost $37,502) (a) (c) (d) (e)   22    23,467 
Canva, Inc., Series A-3 (Acquired 12/17/21, Cost $3,408) (a) (c) (d) (e)   2    2,133 
Databricks, Inc., Series G (Acquired 2/01/21, Cost $172,224) (a) (c) (d) (e)   2,913    214,106 
Databricks, Inc., Series H (Acquired 8/31/21, Cost $542,974) (a) (c) (d) (e)   7,389    543,092 
Gusto, Inc., Series E (Acquired 7/13/21, Cost $254,865) (a) (c) (d) (e)   8,385    128,961 
         911,759 
           
TOTAL PREFERRED STOCK
(Cost $1,010,974)
        911,759 
           
TOTAL EQUITIES
(Cost $300,520,459)
        408,161,360 
           
   Principal
Amount
    
BONDS & NOTES — 0.2%          
CORPORATE DEBT — 0.2%          
Retail — 0.2%          
Carvana Co.          
12.000% 12/01/28 (f)  $217,000    170,414 
13.000% 6/01/30 (f)   326,000    254,280 
14.000% 6/01/31 (f)   385,000    301,340 
         726,034 
           
TOTAL CORPORATE DEBT
(Cost $1,035,905)
        726,034 
           
TOTAL BONDS & NOTES
(Cost $1,035,905)
        726,034 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $301,556,364)
        408,887,394 
           

 

 

 

 

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

 

   Number of
Shares
   Value 
SHORT-TERM INVESTMENTS — 0.3%          
           
Mutual Fund — 0.0%          
T. Rowe Price Government Reserve Investment Fund   105   $105 
           
   Principal
Amount
    
Repurchase Agreement — 0.3%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (g)  $1,385,995   1,385,995 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,386,100)
        1,386,100 
           
TOTAL INVESTMENTS — 99.7%
(Cost $302,942,464) (h)
        410,273,494 
           
Other Assets/(Liabilities) — 0.3%        1,200,032 
           
NET ASSETS — 100.0%       $411,473,526 

 

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, 2023, was $268,298 or 0.07% of net assets. The Fund received $274,100 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(c) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2023, these securities amounted to a value of $1,654,186 or 0.40% of net assets.
(d) Investment is valued using significant unobservable inputs.
(e) Restricted security. Certain securities are restricted to resale. At September 30, 2023, these securities amounted to a value of $1,654,186 or 0.40% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.
(f) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2023, the aggregate market value of these securities amounted to $726,034 or 0.18% of net assets.
(g) Maturity value of $1,386,180. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $1,413,789.
(h) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Equity Income Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.1%          
           
COMMON STOCK — 98.2%          
Basic Materials — 3.9%          
Chemicals — 2.6%          
CF Industries Holdings, Inc.   84,581   $7,251,975 
International Flavors & Fragrances, Inc.   12,292    837,946 
RPM International, Inc.   4,002    379,429 
         8,469,350 
Forest Products & Paper — 1.3%          
International Paper Co.   125,798    4,462,055 
         12,931,405 
Communications — 4.8%          
Internet — 0.2%          
Meta Platforms, Inc. Class A (a)   2,189    657,159 
Media — 3.6%          
Comcast Corp. Class A   31,356    1,390,325 
News Corp. Class A   308,469    6,187,888 
News Corp. Class B   32,373    675,625 
Walt Disney Co. (a)   45,785    3,710,874 
         11,964,712 
Telecommunications — 1.0%          
AT&T, Inc.   29,946    449,789 
Cisco Systems, Inc.   12,794    687,806 
Verizon Communications, Inc.   62,374    2,021,541 
         3,159,136 
         15,781,007 
Consumer, Cyclical — 6.1%          
Airlines — 0.8%          
Southwest Airlines Co.   102,421    2,772,536 
Auto Manufacturers — 1.2%          
Cummins, Inc.   4,500    1,028,070 
Volkswagen AG ADR   258,884    2,966,811 
         3,994,881 
Lodging — 0.9%          
Las Vegas Sands Corp.   62,010    2,842,538 

 

 

 

 

MML Equity Income Fund —  Portfolio of Investments (Continued)

  

   Number of
Shares
   Value 
Retail — 2.5%          
Best Buy Co., Inc.   20,000   $1,389,400 
Dollar General Corp.   5,400    571,320 
Kohl's Corp.   61,127    1,281,222 
TJX Cos., Inc.   13,947    1,239,610 
Walmart, Inc.   24,038    3,844,397 
         8,325,949 
Toys, Games & Hobbies — 0.7%          
Mattel, Inc. (a)   102,190    2,251,246 
         20,187,150 
Consumer, Non-cyclical — 23.7%          
Agriculture — 1.9%          
Philip Morris International, Inc.   66,256    6,133,980 
Beverages — 0.4%          
Constellation Brands, Inc. Class A   5,719    1,437,356 
Biotechnology — 0.3%          
Biogen, Inc. (a)   4,200    1,079,442 
Cosmetics & Personal Care — 1.5%          
Colgate-Palmolive Co.   26,100    1,855,971 
Kenvue, Inc.   153,261    3,077,481 
         4,933,452 
Food — 2.2%          
Conagra Brands, Inc.   148,876    4,082,180 
Mondelez International, Inc. Class A   7,200    499,680 
Tyson Foods, Inc. Class A   56,080    2,831,479 
         7,413,339 
Health Care – Products — 2.6%          
GE HealthCare Technologies, Inc. (a)   26,264    1,787,003 
Medtronic PLC   41,770    3,273,097 
Zimmer Biomet Holdings, Inc.   32,631    3,661,851 
         8,721,951 
Health Care – Services — 2.7%          
Centene Corp. (a)   10,044    691,831 
Elevance Health, Inc.   17,664    7,691,259 
Humana, Inc.   1,000    486,520 
         8,869,610 
Household Products & Wares — 1.1%          
Kimberly-Clark Corp.   28,508    3,445,192 
Pharmaceuticals — 11.0%          
AbbVie, Inc.   21,670    3,230,130 
AstraZeneca PLC Sponsored ADR   31,561    2,137,311 
Becton Dickinson & Co.   27,098    7,005,646 
Cardinal Health, Inc.   6,018    522,483 
Cigna Group   13,251    3,790,714 

 

 

 

 

MML Equity Income Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
CVS Health Corp.   54,658   $3,816,221 
Johnson & Johnson   28,469    4,434,047 
Merck & Co., Inc.   30,053    3,093,956 
Pfizer, Inc.   99,059    3,285,787 
Sanofi   23,225    2,492,093 
Sanofi ADR   6,897    369,955 
Viatris, Inc.   207,100    2,042,006 
         36,220,349 
         78,254,671 
Energy — 9.6%          
Oil & Gas — 8.3%          
Chevron Corp.   7,586    1,279,151 
EOG Resources, Inc.   26,280    3,331,253 
EQT Corp.   35,000    1,420,300 
Exxon Mobil Corp.   48,254    5,673,706 
Hess Corp.   22,706    3,474,018 
Suncor Energy, Inc. (b)   39,600    1,361,448 
TotalEnergies SE   138,665    9,125,177 
TotalEnergies SE Sponsored ADR   29,200    1,920,192 
         27,585,245 
Pipelines — 1.3%          
Enbridge, Inc.   41,779    1,386,645 
TC Energy Corp. (b)   54,428    1,872,867 
Williams Cos., Inc.   29,600    997,224 
         4,256,736 
         31,841,981 
Financial — 24.6%          
Banks — 8.8%          
Bank of America Corp.   55,239    1,512,444 
Bank of New York Mellon Corp.   13,000    554,450 
Citigroup, Inc.   34,040    1,400,065 
Fifth Third Bancorp   138,337    3,504,076 
Goldman Sachs Group, Inc.   2,981    964,562 
Huntington Bancshares, Inc.   288,865    3,004,196 
JP Morgan Chase & Co.   23,068    3,345,321 
Morgan Stanley   17,929    1,464,262 
PNC Financial Services Group, Inc.   3,289    403,791 
State Street Corp.   5,196    347,924 
US Bancorp   101,000    3,339,060 
Wells Fargo & Co.   229,727    9,386,645 
         29,226,796 
Diversified Financial Services — 1.5%          
Apollo Global Management, Inc.   12,400    1,113,024 
Charles Schwab Corp.   70,568    3,874,183 
         4,987,207 
Insurance — 10.1%          
American International Group, Inc.   136,368    8,263,901 

 

 

 

 

MML Equity Income Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Chubb Ltd.   35,458   $7,381,646 
Equitable Holdings, Inc.   196,736    5,585,335 
Hartford Financial Services Group, Inc.   46,483    3,296,109 
Loews Corp.   56,277    3,562,897 
MetLife, Inc.   81,503    5,127,354 
         33,217,242 
Private Equity — 0.2%          
Carlyle Group, Inc.   25,249    761,510 
Real Estate Investment Trusts (REITS) — 4.0%          
Equity Residential   79,808    4,685,528 
Lamar Advertising Co. Class A   1,400    116,858 
Rayonier, Inc.   89,301    2,541,507 
Vornado Realty Trust   5,843    132,519 
Welltower, Inc.   6,948    569,180 
Weyerhaeuser Co.   170,559    5,229,339 
         13,274,931 
         81,467,686 
Industrial — 10.8%          
Aerospace & Defense — 2.9%          
Boeing Co. (a)   22,788    4,368,004 
L3 Harris Technologies, Inc.   30,441    5,300,387 
         9,668,391 
Electronics — 0.4%          
TE Connectivity Ltd.   9,563    1,181,317 
Environmental Controls — 0.5%          
Stericycle, Inc. (a)   40,489    1,810,263 
Hand & Machine Tools — 1.1%          
Stanley Black & Decker, Inc.   43,700    3,652,446 
Machinery – Diversified — 0.1%          
Flowserve Corp.   8,373    332,994 
Miscellaneous - Manufacturing — 3.6%          
3M Co.   7,387    691,571 
General Electric Co.   70,581    7,802,729 
Siemens AG Sponsored ADR   46,859    3,348,076 
         11,842,376 
Transportation — 2.2%          
Norfolk Southern Corp.   8,800    1,732,984 
Union Pacific Corp.   8,200    1,669,766 
United Parcel Service, Inc. Class B   24,620    3,837,520 
         7,240,270 
         35,728,057 

 

 

 

 

MML Equity Income Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Technology — 8.4%          
Computers — 0.5%          
Accenture PLC Class A   5,459   $1,676,513 
Semiconductors — 5.1%          
Advanced Micro Devices, Inc. (a)   1,600    164,512 
Applied Materials, Inc.   26,071    3,609,530 
QUALCOMM, Inc.   71,811    7,975,330 
Samsung Electronics Co. Ltd.   47,501    2,406,636 
Texas Instruments, Inc.   17,660    2,808,117 
         16,964,125 
Software — 2.8%          
Fiserv, Inc. (a)   32,894    3,715,706 
Microsoft Corp.   16,990    5,364,593 
         9,080,299 
         27,720,937 
Utilities — 6.3%          
Electric — 6.2%          
Ameren Corp.   17,696    1,324,192 
Dominion Energy, Inc.   98,149    4,384,316 
NextEra Energy, Inc.   37,187    2,130,443 
PG&E Corp. (a)   31,053    500,885 
Sempra   39,679    2,699,362 
Southern Co.   146,671    9,492,547 
         20,531,745 
Gas — 0.1%          
NiSource, Inc.   19,508    481,458 
         21,013,203 
           
TOTAL COMMON STOCK
(Cost $278,242,786)
        324,926,097 
           
PREFERRED STOCK — 0.9%          
Consumer, Cyclical — 0.7%          
Auto Manufacturers — 0.7%          
Dr Ing hc F Porsche AG 1.134% (c)   24,426    2,297,307 
Utilities — 0.2%          
Electric — 0.1%          
NextEra Energy, Inc. Convertible 6.926% (b)   15,955    603,578 
Gas — 0.1%          
NiSource, Inc. 7.750% (b)   2,065    201,234 
         804,812 

 

 

 

 

MML Equity Income Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
TOTAL PREFERRED STOCK
(Cost $3,318,154)
       $3,102,119 
           
TOTAL EQUITIES
(Cost $281,560,940)
        328,028,216 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $281,560,940)
        328,028,216 
           
SHORT-TERM INVESTMENTS — 2.0%          
           
Investment of Cash Collateral from Securities Loaned — 1.2%          
State Street Navigator Securities Lending Government Money Market Portfolio (d)   4,094,037   4,094,037 
Mutual Fund — 0.0%          
T. Rowe Price Government Reserve Investment Fund   104    104 
           
   Principal
Amount
    
Repurchase Agreement — 0.8%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (e)  $2,491,817   2,491,817 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $6,585,958)
        6,585,958 
           
TOTAL INVESTMENTS — 101.1%
(Cost $288,146,898) (f)
        334,614,174 
           
Other Assets/(Liabilities) — (1.1)%        (3,776,748) 
           
NET ASSETS — 100.0%       $330,837,426 

 

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, 2023, was $3,996,011 or 1.21% of net assets. (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, 2023, the aggregate market value of these securities amounted to $2,297,307 or 0.69% of net assets.
(d) Represents investment of security lending cash collateral. (Note 2).
(e) Maturity value of $2,492,150. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $2,541,671.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Equity Index Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 98.4%          
           
COMMON STOCK — 98.4%          
Basic Materials — 2.0%          
Chemicals — 1.6%          
Air Products & Chemicals, Inc.   3,602   $1,020,807 
Albemarle Corp.   1,903    323,586 
Celanese Corp.   1,622    203,594 
CF Industries Holdings, Inc.   3,160    270,938 
Dow, Inc.   11,368    586,134 
DuPont de Nemours, Inc.   7,443    555,173 
Eastman Chemical Co.   1,931    148,146 
Ecolab, Inc.   4,102    694,879 
FMC Corp.   2,027    135,748 
International Flavors & Fragrances, Inc.   4,136    281,951 
Linde PLC (LIN US)   7,890    2,937,842 
LyondellBasell Industries NV Class A   4,114    389,596 
Mosaic Co.   5,384    191,670 
PPG Industries, Inc.   3,818    495,577 
Sherwin-Williams Co.   3,806    970,720 
         9,206,361 
Forest Products & Paper — 0.0%          
International Paper Co.   5,624    199,483 
Iron & Steel — 0.2%          
Nucor Corp.   4,022    628,840 
Steel Dynamics, Inc.   2,518    269,980 
         898,820 
Mining — 0.2%          
Freeport-McMoRan, Inc.   23,242    866,694 
Newmont Corp.   12,887    476,175 
         1,342,869 
         11,647,533 
Communications — 13.5%          
Advertising — 0.1%          
Interpublic Group of Cos., Inc.   6,257    179,326 
Omnicom Group, Inc.   3,234    240,868 
         420,194 
Internet — 10.4%          
Airbnb, Inc. Class A (a)   6,894    945,926 
Alphabet, Inc. Class A (a)   95,933    12,553,793 
Alphabet, Inc. Class C (a)   81,605    10,759,619 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Amazon.com, Inc. (a)   146,887   $18,672,276 
Booking Holdings, Inc. (a)   577    1,779,439 
CDW Corp.   2,167    437,214 
eBay, Inc.   8,670    382,260 
Etsy, Inc. (a)   2,000    129,160 
Expedia Group, Inc. (a)   2,229    229,743 
F5, Inc. (a)   980    157,917 
Gen Digital, Inc.   9,221    163,027 
Match Group, Inc. (a)   4,514    176,836 
Meta Platforms, Inc. Class A (a)   35,938    10,788,947 
Netflix, Inc. (a)   7,165    2,705,504 
Palo Alto Networks, Inc. (a)   4,948    1,160,009 
VeriSign, Inc. (a)   1,468    297,314 
         61,338,984 
Media — 1.2%          
Charter Communications, Inc. Class A (a)   1,646    723,944 
Comcast Corp. Class A   66,549    2,950,783 
FactSet Research Systems, Inc.   621    271,538 
Fox Corp. Class A   4,102    127,982 
Fox Corp. Class B   2,133    61,601 
News Corp. Class A   6,108    122,527 
News Corp. Class B   1,969    41,093 
Paramount Global Class B   7,797    100,581 
Walt Disney Co. (a)   29,628    2,401,349 
Warner Bros Discovery, Inc. (a)   35,941    390,319 
         7,191,717 
Telecommunications — 1.8%          
Arista Networks, Inc. (a)   4,049    744,733 
AT&T, Inc.   115,596    1,736,252 
Cisco Systems, Inc.   65,892    3,542,354 
Corning, Inc.   12,407    378,041 
Juniper Networks, Inc.   5,214    144,897 
Motorola Solutions, Inc.   2,701    735,320 
T-Mobile US, Inc. (a)   8,370    1,172,218 
Verizon Communications, Inc.   67,977    2,203,135 
         10,656,950 
         79,607,845 
Consumer, Cyclical — 9.0%          
Airlines — 0.2%          
Alaska Air Group, Inc. (a)   2,074    76,904 
American Airlines Group, Inc. (a)   10,583    135,568 
Delta Air Lines, Inc.   10,422    385,614 
Southwest Airlines Co.   9,650    261,226 
United Airlines Holdings, Inc. (a)   5,317    224,909 
         1,084,221 
Apparel — 0.4%          
NIKE, Inc. Class B   19,809    1,894,136 
Ralph Lauren Corp.   666    77,316 
Tapestry, Inc.   3,757    108,014 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
VF Corp.   5,352   $94,570 
         2,174,036 
Auto Manufacturers — 2.4%          
Cummins, Inc.   2,296    524,544 
Ford Motor Co.   63,725    791,464 
General Motors Co.   22,248    733,517 
PACCAR, Inc.   8,475    720,545 
Tesla, Inc. (a)   44,650    11,172,323 
         13,942,393 
Auto Parts & Equipment — 0.1%          
Aptiv PLC (a)   4,573    450,852 
BorgWarner, Inc.   3,801    153,446 
         604,298 
Distribution & Wholesale — 0.3%          
Copart, Inc. (a)   13,913    599,511 
Fastenal Co.   9,260    505,967 
LKQ Corp.   4,326    214,180 
Pool Corp.   633    225,411 
W.W. Grainger, Inc.   724    500,892 
         2,045,961 
Entertainment — 0.1%          
Caesars Entertainment, Inc. (a)   3,488    161,669 
Live Nation Entertainment, Inc. (a)   2,333    193,732 
         355,401 
Home Builders — 0.3%          
DR Horton, Inc.   4,923    529,075 
Lennar Corp. Class A   4,083    458,235 
NVR, Inc. (a)   53    316,055 
PulteGroup, Inc.   3,548    262,729 
         1,566,094 
Home Furnishing — 0.0%          
Whirlpool Corp.   887    118,592 
Leisure Time — 0.1%          
Carnival Corp. (a)   16,286    223,444 
Norwegian Cruise Line Holdings Ltd. (a) (b)   6,876    113,316 
Royal Caribbean Cruises Ltd. (a)   3,811    351,146 
         687,906 
Lodging — 0.3%          
Hilton Worldwide Holdings, Inc.   4,229    635,111 
Las Vegas Sands Corp.   5,329    244,281 
Marriott International, Inc. Class A   4,051    796,265 
MGM Resorts International   4,539    166,854 
Wynn Resorts Ltd.   1,566    144,714 
         1,987,225 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Retail — 4.8%          
AutoZone, Inc. (a)   294   $746,757 
Bath & Body Works, Inc.   3,762    127,156 
Best Buy Co., Inc.   3,155    219,178 
CarMax, Inc. (a)   2,565    181,422 
Chipotle Mexican Grill, Inc. (a)   447    818,828 
Costco Wholesale Corp.   7,165    4,047,938 
Darden Restaurants, Inc.   1,961    280,854 
Dollar General Corp.   3,553    375,907 
Dollar Tree, Inc. (a)   3,371    358,843 
Domino's Pizza, Inc.   573    217,047 
Genuine Parts Co.   2,278    328,898 
Home Depot, Inc.   16,256    4,911,913 
Lowe's Cos., Inc.   9,475    1,969,284 
McDonald's Corp.   11,784    3,104,377 
O'Reilly Automotive, Inc. (a)   977    887,956 
Ross Stores, Inc.   5,508    622,129 
Starbucks Corp.   18,521    1,690,412 
Target Corp.   7,484    827,506 
TJX Cos., Inc.   18,583    1,651,657 
Tractor Supply Co.   1,759    357,165 
Ulta Beauty, Inc. (a)   812    324,353 
Walgreens Boots Alliance, Inc.   11,610    258,206 
Walmart, Inc.   23,077    3,690,705 
Yum! Brands, Inc.   4,542    567,478 
         28,565,969 
Toys, Games & Hobbies — 0.0%          
Hasbro, Inc.   2,112    139,688 
         53,271,784 
Consumer, Non-cyclical — 19.7%          
Agriculture — 0.7%          
Altria Group, Inc.   28,695    1,206,625 
Archer-Daniels-Midland Co.   8,668    653,741 
Bunge Ltd.   2,442    264,346 
Philip Morris International, Inc.   25,101    2,323,851 
         4,448,563 
Beverages — 1.6%          
Brown-Forman Corp. Class B   2,965    171,051 
Coca-Cola Co.   62,930    3,522,821 
Constellation Brands, Inc. Class A   2,615    657,228 
Keurig Dr Pepper, Inc.   16,267    513,549 
Molson Coors Beverage Co. Class B   3,044    193,568 
Monster Beverage Corp. (a)   12,026    636,777 
PepsiCo, Inc.   22,259    3,771,565 
         9,466,559 
Biotechnology — 1.5%          
Amgen, Inc.   8,649    2,324,505 
Bio-Rad Laboratories, Inc. Class A (a)   346    124,024 
Biogen, Inc. (a)   2,347    603,202 
Corteva, Inc.   11,528    589,772 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Gilead Sciences, Inc.   20,147   $1,509,816 
Illumina, Inc. (a)   2,564    351,986 
Incyte Corp. (a)   3,002    173,426 
Moderna, Inc. (a)   5,316    549,090 
Regeneron Pharmaceuticals, Inc. (a)   1,726    1,420,429 
Vertex Pharmaceuticals, Inc. (a)   4,177    1,452,510 
         9,098,760 
Commercial Services — 1.7%          
Automatic Data Processing, Inc.   6,662    1,602,744 
Cintas Corp.   1,402    674,376 
CoStar Group, Inc. (a)   6,625    509,396 
Equifax, Inc.   1,989    364,345 
FleetCor Technologies, Inc. (a)   1,197    305,642 
Gartner, Inc. (a)   1,282    440,508 
Global Payments, Inc.   4,204    485,100 
MarketAxess Holdings, Inc.   611    130,534 
Moody's Corp.   2,559    809,079 
PayPal Holdings, Inc. (a)   17,755    1,037,957 
Quanta Services, Inc.   2,354    440,363 
Robert Half, Inc.   1,747    128,020 
Rollins, Inc.   4,542    169,553 
S&P Global, Inc.   5,262    1,922,787 
United Rentals, Inc.   1,104    490,805 
Verisk Analytics, Inc.   2,348    554,692 
         10,065,901 
Cosmetics & Personal Care — 1.3%          
Colgate-Palmolive Co.   13,367    950,527 
Estee Lauder Cos., Inc. Class A   3,760    543,508 
Kenvue, Inc.   27,873    559,690 
Procter & Gamble Co.   38,116    5,559,600 
         7,613,325 
Food — 1.0%          
Campbell Soup Co.   3,255    133,715 
Conagra Brands, Inc.   7,736    212,121 
General Mills, Inc.   9,462    605,473 
Hershey Co.   2,389    477,991 
Hormel Foods Corp.   4,697    178,627 
J. M. Smucker Co.   1,651    202,924 
Kellogg Co.   4,170    248,157 
Kraft Heinz Co.   12,938    435,234 
Kroger Co.   10,590    473,903 
Lamb Weston Holdings, Inc.   2,363    218,483 
McCormick & Co., Inc.   4,068    307,704 
Mondelez International, Inc. Class A   21,997    1,526,592 
Sysco Corp.   8,213    542,469 
Tyson Foods, Inc. Class A   4,630    233,769 
         5,797,162 
Health Care – Products — 3.4%          
Abbott Laboratories   28,060    2,717,611 
Align Technology, Inc. (a)   1,154    352,339 
Baxter International, Inc.   8,202    309,543 
Bio-Techne Corp.   2,553    173,783 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Boston Scientific Corp. (a)   23,676   $1,250,093 
Cooper Cos., Inc.   802    255,044 
Danaher Corp.   10,625    2,636,062 
DENTSPLY SIRONA, Inc.   3,444    117,647 
Edwards Lifesciences Corp. (a)   9,830    681,022 
GE HealthCare Technologies, Inc. (a)   6,341    431,442 
Hologic, Inc. (a)   3,991    276,975 
IDEXX Laboratories, Inc. (a)   1,346    588,565 
Insulet Corp. (a)   1,130    180,224 
Intuitive Surgical, Inc. (a)   5,682    1,660,792 
Medtronic PLC   21,524    1,686,621 
ResMed, Inc.   2,383    352,374 
Revvity, Inc.   2,034    225,164 
Steris PLC   1,610    353,266 
Stryker Corp.   5,465    1,493,421 
Teleflex, Inc.   761    149,468 
Thermo Fisher Scientific, Inc.   6,241    3,159,007 
Waters Corp. (a)   957    262,419 
West Pharmaceutical Services, Inc.   1,194    448,001 
Zimmer Biomet Holdings, Inc.   3,382    379,528 
         20,140,411 
Health Care – Services — 2.3%          
Catalent, Inc. (a)   2,956    134,587 
Centene Corp. (a)   8,755    603,044 
Charles River Laboratories International, Inc. (a)   830    162,663 
DaVita, Inc. (a)   871    82,336 
Elevance Health, Inc.   3,810    1,658,950 
HCA Healthcare, Inc.   3,254    800,419 
Humana, Inc.   2,004    974,986 
IQVIA Holdings, Inc. (a)   2,961    582,577 
Laboratory Corp. of America Holdings   1,436    288,708 
Molina Healthcare, Inc. (a)   945    309,856 
Quest Diagnostics, Inc.   1,815    221,176 
UnitedHealth Group, Inc.   14,978    7,551,758 
Universal Health Services, Inc. Class B   1,020    128,244 
         13,499,304 
Household Products & Wares — 0.3%          
Avery Dennison Corp.   1,308    238,933 
Church & Dwight Co., Inc.   3,962    363,038 
Clorox Co.   2,005    262,775 
Kimberly-Clark Corp.   5,472    661,291 
         1,526,037 
Pharmaceuticals — 5.9%          
AbbVie, Inc.   28,540    4,254,172 
Becton Dickinson & Co.   4,691    1,212,764 
Bristol-Myers Squibb Co.   33,780    1,960,591 
Cardinal Health, Inc.   4,128    358,393 
Cencora, Inc.   2,696    485,199 
Cigna Group   4,798    1,372,564 
CVS Health Corp.   20,787    1,451,348 
Dexcom, Inc. (a)   6,286    586,484 
Eli Lilly & Co.   12,894    6,925,754 
Henry Schein, Inc. (a)   2,124    157,707 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Johnson & Johnson   38,936   $6,064,282 
McKesson Corp.   2,181    948,408 
Merck & Co., Inc.   41,030    4,224,039 
Organon & Co.   4,130    71,697 
Pfizer, Inc.   91,292    3,028,156 
Viatris, Inc.   19,434    191,619 
Zoetis, Inc.   7,443    1,294,933 
         34,588,110 
         116,244,132 
Energy — 4.7%          
Energy – Alternate Sources — 0.1%          
Enphase Energy, Inc. (a)   2,222    266,973 
First Solar, Inc. (a)   1,727    279,066 
SolarEdge Technologies, Inc. (a)   914    118,372 
         664,411 
Oil & Gas — 3.9%          
APA Corp.   5,002    205,582 
Chevron Corp.   28,689    4,837,539 
ConocoPhillips   19,363    2,319,687 
Coterra Energy, Inc.   12,283    332,255 
Devon Energy Corp.   10,404    496,271 
Diamondback Energy, Inc.   2,891    447,758 
EOG Resources, Inc.   9,415    1,193,445 
EQT Corp.   5,864    237,961 
Exxon Mobil Corp.   64,730    7,610,954 
Hess Corp.   4,482    685,746 
Marathon Oil Corp.   9,794    261,990 
Marathon Petroleum Corp.   6,465    978,413 
Occidental Petroleum Corp.   10,729    696,098 
Phillips 66   7,200    865,080 
Pioneer Natural Resources Co.   3,770    865,404 
Valero Energy Corp.   5,710    809,164 
         22,843,347 
Oil & Gas Services — 0.4%          
Baker Hughes Co.   16,417    579,848 
Halliburton Co.   14,529    588,425 
Schlumberger NV   22,980    1,339,734 
         2,508,007 
Pipelines — 0.3%          
Kinder Morgan, Inc.   31,345    519,700 
ONEOK, Inc.   9,421    597,574 
Targa Resources Corp.   3,617    310,049 
Williams Cos., Inc.   19,753    665,479 
         2,092,802 
         28,108,567 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Financial — 13.6%          
Banks — 3.7%          
Bank of America Corp.   111,785   $3,060,673 
Bank of New York Mellon Corp.   12,592    537,049 
Citigroup, Inc.   31,138    1,280,706 
Citizens Financial Group, Inc.   7,637    204,672 
Comerica, Inc.   2,133    88,626 
Fifth Third Bancorp   11,035    279,517 
Goldman Sachs Group, Inc.   5,331    1,724,952 
Huntington Bancshares, Inc.   23,406    243,422 
JP Morgan Chase & Co.   46,990    6,814,490 
KeyCorp.   15,157    163,089 
M&T Bank Corp.   2,689    340,024 
Morgan Stanley   20,630    1,684,852 
Northern Trust Corp.   3,377    234,634 
PNC Financial Services Group, Inc.   6,440    790,639 
Regions Financial Corp.   15,214    261,681 
State Street Corp.   5,152    344,978 
Truist Financial Corp.   21,596    617,862 
US Bancorp   25,175    832,285 
Wells Fargo & Co.   59,161    2,417,318 
Zions Bancorp NA   2,400    83,736 
         22,005,205 
Diversified Financial Services — 3.5%          
American Express Co.   9,407    1,403,430 
Ameriprise Financial, Inc.   1,659    546,939 
BlackRock, Inc.   2,269    1,466,886 
Capital One Financial Corp.   6,191    600,837 
Cboe Global Markets, Inc.   1,712    267,432 
Charles Schwab Corp.   24,098    1,322,980 
CME Group, Inc.   5,833    1,167,883 
Discover Financial Services   4,042    350,158 
Franklin Resources, Inc.   4,682    115,084 
Intercontinental Exchange, Inc.   9,274    1,020,325 
Invesco Ltd.   7,425    107,811 
Mastercard, Inc. Class A   13,453    5,326,177 
Nasdaq, Inc.   5,490    266,759 
Raymond James Financial, Inc.   3,039    305,207 
Synchrony Financial   6,762    206,714 
T. Rowe Price Group, Inc.   3,641    381,832 
Visa, Inc. Class A   25,981    5,975,890 
         20,832,344 
Insurance — 3.9%          
Aflac, Inc.   8,741    670,872 
Allstate Corp.   4,262    474,829 
American International Group, Inc.   11,511    697,567 
Aon PLC Class A   3,280    1,063,442 
Arch Capital Group Ltd. (a)   6,040    481,448 
Arthur J Gallagher & Co.   3,474    791,829 
Assurant, Inc.   873    125,345 
Berkshire Hathaway, Inc. Class B (a)   29,488    10,329,646 
Brown & Brown, Inc.   3,817    266,579 
Chubb Ltd.   6,641    1,382,523 
Cincinnati Financial Corp.   2,549    260,737 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Everest Group Ltd.   695   $258,311 
Globe Life, Inc.   1,406    152,874 
Hartford Financial Services Group, Inc.   4,945    350,650 
Loews Corp.   2,990    189,297 
Marsh & McLennan Cos., Inc.   7,987    1,519,926 
MetLife, Inc.   10,214    642,563 
Principal Financial Group, Inc.   3,596    259,164 
Progressive Corp.   9,465    1,318,475 
Prudential Financial, Inc.   5,870    557,004 
Travelers Cos., Inc.   3,702    604,574 
W. R. Berkley Corp.   3,255    206,660 
Willis Towers Watson PLC   1,695    354,187 
         22,958,502 
Private Equity — 0.2%          
Blackstone, Inc.   11,476    1,229,539 
Real Estate — 0.1%          
CBRE Group, Inc. Class A (a)   5,041    372,328 
Real Estate Investment Trusts (REITS) — 2.2%          
Alexandria Real Estate Equities, Inc.   2,518    252,052 
American Tower Corp.   7,557    1,242,749 
AvalonBay Communities, Inc.   2,303    395,517 
Boston Properties, Inc.   2,313    137,577 
Camden Property Trust   1,731    163,718 
Crown Castle, Inc.   7,031    647,063 
Digital Realty Trust, Inc.   4,895    592,393 
Equinix, Inc.   1,517    1,101,736 
Equity Residential   5,530    324,666 
Essex Property Trust, Inc.   1,041    220,786 
Extra Space Storage, Inc.   3,425    416,412 
Federal Realty Investment Trust   1,189    107,759 
Healthpeak Properties, Inc.   8,865    162,761 
Host Hotels & Resorts, Inc.   11,532    185,319 
Invitation Homes, Inc.   9,301    294,749 
Iron Mountain, Inc.   4,729    281,139 
Kimco Realty Corp.   10,048    176,744 
Mid-America Apartment Communities, Inc.   1,892    243,406 
Prologis, Inc.   14,938    1,676,193 
Public Storage   2,566    676,192 
Realty Income Corp.   11,461    572,362 
Regency Centers Corp.   2,665    158,408 
SBA Communications Corp.   1,757    351,699 
Simon Property Group, Inc.   5,302    572,775 
UDR, Inc.   4,901    174,819 
Ventas, Inc.   6,486    273,255 
VICI Properties, Inc.   16,285    473,893 
Welltower, Inc.   8,388    687,145 
Weyerhaeuser Co.   11,875    364,088 
         12,927,375 
         80,325,293 
Industrial — 7.4%          
Aerospace & Defense — 1.4%          
Boeing Co. (a)   9,170    1,757,706 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
General Dynamics Corp.   3,648   $806,098 
Howmet Aerospace, Inc.   6,332    292,855 
L3 Harris Technologies, Inc.   3,072    534,897 
Lockheed Martin Corp.   3,624    1,482,071 
Northrop Grumman Corp.   2,300    1,012,437 
RTX Corp.   23,535    1,693,814 
TransDigm Group, Inc. (a)   892    752,072 
         8,331,950 
Building Materials — 0.5%          
Carrier Global Corp.   13,537    747,243 
Johnson Controls International PLC   11,000    585,310 
Martin Marietta Materials, Inc.   1,005    412,532 
Masco Corp.   3,650    195,093 
Mohawk Industries, Inc. (a)   856    73,453 
Trane Technologies PLC   3,698    750,361 
Vulcan Materials Co.   2,157    435,757 
         3,199,749 
Electrical Components & Equipment — 0.3%          
AMETEK, Inc.   3,738    552,327 
Emerson Electric Co.   9,267    894,914 
Generac Holdings, Inc. (a)   1,008    109,832 
         1,557,073 
Electronics — 1.0%          
Agilent Technologies, Inc.   4,795    536,177 
Allegion PLC   1,426    148,589 
Amphenol Corp. Class A   9,655    810,923 
Fortive Corp.   5,733    425,159 
Garmin Ltd.   2,481    261,001 
Honeywell International, Inc.   10,736    1,983,369 
Keysight Technologies, Inc. (a)   2,889    382,244 
Mettler-Toledo International, Inc. (a)   357    395,581 
TE Connectivity Ltd.   5,076    627,038 
Trimble, Inc. (a)   4,015    216,248 
         5,786,329 
Engineering & Construction — 0.0%          
Jacobs Solutions, Inc.   2,057    280,780 
Environmental Controls — 0.3%          
Pentair PLC   2,674    173,142 
Republic Services, Inc.   3,334    475,128 
Waste Management, Inc.   5,960    908,542 
         1,556,812 
Hand & Machine Tools — 0.1%          
Snap-on, Inc.   858    218,842 
Stanley Black & Decker, Inc.   2,483    207,529 
         426,371 
Machinery – Construction & Mining — 0.4%          
Caterpillar, Inc.   8,249    2,251,977 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Machinery – Diversified — 0.8%          
Deere & Co.   4,409   $1,663,868 
Dover Corp.   2,267    316,269 
IDEX Corp.   1,226    255,033 
Ingersoll Rand, Inc.   6,559    417,940 
Nordson Corp.   873    194,827 
Otis Worldwide Corp.   6,658    534,704 
Rockwell Automation, Inc.   1,863    532,576 
Westinghouse Air Brake Technologies Corp.   2,917    309,990 
Xylem, Inc.   3,880    353,196 
         4,578,403 
Miscellaneous - Manufacturing — 1.2%          
3M Co.   8,945    837,431 
A.O. Smith Corp.   2,019    133,516 
Axon Enterprise, Inc. (a)   1,138    226,451 
Eaton Corp. PLC   6,464    1,378,642 
General Electric Co.   17,598    1,945,459 
Illinois Tool Works, Inc.   4,449    1,024,649 
Parker-Hannifin Corp.   2,080    810,202 
Teledyne Technologies, Inc. (a)   763    311,747 
Textron, Inc.   3,203    250,282 
         6,918,379 
Packaging & Containers — 0.1%          
Amcor PLC   23,848    218,448 
Ball Corp.   5,099    253,828 
Packaging Corp. of America   1,458    223,876 
Sealed Air Corp.   2,372    77,944 
Westrock Co.   4,149    148,534 
         922,630 
Shipbuilding — 0.0%          
Huntington Ingalls Industries, Inc.   647    132,363 
Transportation — 1.3%          
C.H. Robinson Worldwide, Inc.   1,888    162,613 
CSX Corp.   32,441    997,561 
Expeditors International of Washington, Inc.   2,391    274,080 
FedEx Corp.   3,750    993,450 
JB Hunt Transport Services, Inc.   1,320    248,846 
Norfolk Southern Corp.   3,671    722,930 
Old Dominion Freight Line, Inc.   1,449    592,844 
Union Pacific Corp.   9,855    2,006,774 
United Parcel Service, Inc. Class B   11,695    1,822,900 
         7,821,998 
         43,764,814 
Technology — 26.1%          
Computers — 8.3%          
Accenture PLC Class A   10,200    3,132,522 
Apple, Inc.   237,731    40,701,925 
Cognizant Technology Solutions Corp. Class A   8,166    553,165 
DXC Technology Co. (a)   3,318    69,114 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
EPAM Systems, Inc. (a)   939   $240,093 
Fortinet, Inc. (a)   10,568    620,130 
Hewlett Packard Enterprise Co.   21,013    364,996 
HP, Inc.   14,055    361,213 
International Business Machines Corp.   14,725    2,065,917 
Leidos Holdings, Inc.   2,224    204,964 
NetApp, Inc.   3,409    258,675 
Seagate Technology Holdings PLC   3,122    205,896 
Western Digital Corp. (a)   5,187    236,683 
         49,015,293 
Office & Business Equipment — 0.0%          
Zebra Technologies Corp. Class A (a)   834    197,266 
Semiconductors — 7.2%          
Advanced Micro Devices, Inc. (a)   26,113    2,684,939 
Analog Devices, Inc.   8,108    1,419,630 
Applied Materials, Inc.   13,578    1,879,874 
Broadcom, Inc.   6,673    5,542,460 
Intel Corp.   67,636    2,404,460 
KLA Corp.   2,211    1,014,097 
Lam Research Corp.   2,155    1,350,689 
Microchip Technology, Inc.   8,802    686,996 
Micron Technology, Inc.   17,746    1,207,260 
Monolithic Power Systems, Inc.   773    357,126 
NVIDIA Corp.   39,939    17,373,066 
NXP Semiconductors NV   4,169    833,467 
ON Semiconductor Corp. (a)   7,003    650,929 
Qorvo, Inc. (a)   1,619    154,566 
QUALCOMM, Inc.   18,064    2,006,188 
Skyworks Solutions, Inc.   2,580    254,362 
Teradyne, Inc.   2,514    252,556 
Texas Instruments, Inc.   14,681    2,334,426 
         42,407,091 
Software — 10.6%          
Activision Blizzard, Inc.   11,601    1,086,202 
Adobe, Inc. (a)   7,370    3,757,963 
Akamai Technologies, Inc. (a)   2,468    262,941 
ANSYS, Inc. (a)   1,405    418,058 
Autodesk, Inc. (a)   3,472    718,391 
Broadridge Financial Solutions, Inc.   1,913    342,523 
Cadence Design Systems, Inc. (a)   4,395    1,029,748 
Ceridian HCM Holding, Inc. (a)   2,513    170,507 
Electronic Arts, Inc.   3,986    479,914 
Fair Isaac Corp. (a)   405    351,755 
Fidelity National Information Services, Inc.   9,606    530,924 
Fiserv, Inc. (a)   9,857    1,113,447 
Intuit, Inc.   4,528    2,313,536 
Jack Henry & Associates, Inc.   1,182    178,647 
Microsoft Corp.   120,187    37,949,045 
MSCI, Inc.   1,279    656,229 
Oracle Corp.   25,455    2,696,194 
Paychex, Inc.   5,203    600,062 
Paycom Software, Inc.   788    204,305 
PTC, Inc. (a)   1,921    272,167 
Roper Technologies, Inc.   1,729    837,320 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Salesforce, Inc. (a)   15,749   $3,193,582 
ServiceNow, Inc. (a)   3,304    1,846,804 
Synopsys, Inc. (a)   2,460    1,129,066 
Take-Two Interactive Software, Inc. (a)   2,571    360,943 
Tyler Technologies, Inc. (a)   680    262,575 
         62,762,848 
         154,382,498 
Utilities — 2.4%          
Electric — 2.2%          
AES Corp.   10,850    164,920 
Alliant Energy Corp.   4,075    197,434 
Ameren Corp.   4,259    318,701 
American Electric Power Co., Inc.   8,348    627,937 
CenterPoint Energy, Inc.   10,231    274,702 
CMS Energy Corp.   4,729    251,157 
Consolidated Edison, Inc.   5,577    477,001 
Constellation Energy Corp.   5,200    567,216 
Dominion Energy, Inc.   13,553    605,413 
DTE Energy Co.   3,342    331,794 
Duke Energy Corp.   12,497    1,102,985 
Edison International   6,210    393,031 
Entergy Corp.   3,428    317,090 
Evergy, Inc.   3,724    188,807 
Eversource Energy   5,655    328,838 
Exelon Corp.   16,129    609,515 
FirstEnergy Corp.   8,344    285,198 
NextEra Energy, Inc.   32,722    1,874,643 
NRG Energy, Inc.   3,733    143,795 
PG&E Corp. (a)   33,814    545,420 
Pinnacle West Capital Corp.   1,837    135,350 
PPL Corp.   11,953    281,613 
Public Service Enterprise Group, Inc.   8,092    460,516 
Sempra   10,205    694,246 
Southern Co.   17,684    1,144,508 
WEC Energy Group, Inc.   5,115    412,013 
Xcel Energy, Inc.   8,925    510,688 
         13,244,531 
Gas — 0.1%          
Atmos Energy Corp.   2,344    248,300 
NiSource, Inc.   6,695    165,233 
         413,533 
Water — 0.1%          
American Water Works Co., Inc.   3,156    390,807 
         14,048,871 

 

 

 

 

MML Equity Index Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
TOTAL COMMON STOCK
(Cost $323,762,890)
       $581,401,337 
           
TOTAL EQUITIES
(Cost $323,762,890)
        581,401,337 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $323,762,890)
        581,401,337 
           
           
   Principal
Amount
    
SHORT-TERM INVESTMENTS — 1.6%          
Repurchase Agreement — 1.5%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (c)  $8,629,602   8,629,602 
U.S. Treasury Bill — 0.1%          
U.S. Treasury Bills          
5.294% 10/26/23 (d) (e)   5,000    4,983 
5.387% 10/26/23 (d)   15,000    14,947 
5.404% 10/26/23 (d)   580,000    577,957 
         597,887 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $9,227,314)
        9,227,489 
           
TOTAL INVESTMENTS — 100.0%
(Cost $332,990,204) (f)
        590,628,826 
           
Other Assets/(Liabilities) — 0.0%        17,974 
           
NET ASSETS — 100.0%       $590,646,800 

 

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, 2023, was $115,311 or 0.02% of net assets. The Fund received $118,186 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(c) Maturity value of $8,630,753. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $8,802,211.
(d) The rate shown represents yield-to-maturity.
(e) All or a portion of this security is pledged/held as collateral for open derivatives.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

Futures contracts               
   Expiration
Date
  Number of
Contracts
   Notional
Amount
   Value/ Net Unrealized
Appreciation
(Depreciation)
 
Long               
S&P 500 E Mini Index  12/15/23   43   $9,718,251  $(418,426) 

 

 

 

MML Focused Equity Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 96.4%          
           
COMMON STOCK — 96.4%          
Basic Materials — 4.3%          
Chemicals — 4.3%          
Linde PLC (LIN US)   32,182   $11,982,967 
Consumer, Cyclical — 13.6%          
Apparel — 4.4%          
NIKE, Inc. Class B   128,481    12,285,353 
Retail — 9.2%          
McDonald's Corp.   39,478    10,400,085 
TJX Cos., Inc.   168,431    14,970,147 
         25,370,232 
         37,655,585 
Consumer, Non-cyclical — 34.0%          
Beverages — 5.9%          
Coca-Cola Co.   82,022    4,591,592 
PepsiCo, Inc.   69,574    11,788,618 
         16,380,210 
Cosmetics & Personal Care — 8.2%          
Colgate-Palmolive Co.   161,162    11,460,230 
Procter & Gamble Co.   76,681    11,184,690 
         22,644,920 
Health Care – Products — 11.2%          
Danaher Corp.   53,884    13,368,620 
Medtronic PLC   90,296    7,075,595 
Stryker Corp.   38,681    10,570,357 
         31,014,572 
Health Care – Services — 5.6%          
UnitedHealth Group, Inc.   30,368    15,311,242 
Pharmaceuticals — 3.1%          
Johnson & Johnson   54,726    8,523,575 
         93,874,519 
Financial — 20.5%          
Diversified Financial Services — 8.5%          
American Express Co.   70,956    10,585,925 

 

 

 

 

MML Focused Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Visa, Inc. Class A   56,375   $12,966,814 
         23,552,739 
Insurance — 8.7%          
Chubb Ltd.   55,338    11,520,265 
Marsh & McLennan Cos., Inc.   65,374    12,440,672 
         23,960,937 
Real Estate Investment Trusts (REITS) — 3.3%          
American Tower Corp.   54,511    8,964,334 
         56,478,010 
Industrial — 13.2%          
Aerospace & Defense — 6.9%          
Lockheed Martin Corp.   11,403    4,663,371 
Northrop Grumman Corp.   32,692    14,390,691 
         19,054,062 
Electronics — 4.4%          
Honeywell International, Inc.   66,546    12,293,708 
Transportation — 1.9%          
Union Pacific Corp.   25,323    5,156,523 
         36,504,293 
Technology — 10.8%          
Computers — 3.8%          
Accenture PLC Class A   34,361    10,552,607 
Semiconductors — 3.0%          
Texas Instruments, Inc.   51,527    8,193,308 
Software — 4.0%          
Microsoft Corp.   35,101    11,083,141 
         29,829,056 
           
TOTAL COMMON STOCK
(Cost $242,981,536)
        266,324,430 
           
TOTAL EQUITIES
(Cost $242,981,536)
        266,324,430 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $242,981,536)
        266,324,430 

 

 

 

MML Focused Equity Fund —  Portfolio of Investments (Continued)

 

   Principal
Amount
   Value 
SHORT-TERM INVESTMENTS — 3.7%          
           
Repurchase Agreement — 3.7%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (a)  $10,232,357   $10,232,357 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,232,357)
       10,232,357 
           
TOTAL INVESTMENTS — 100.1%
(Cost $253,213,893) (b)
        276,556,787 
           
Other Assets/(Liabilities) — (0.1)%        (205,205) 
           
NET ASSETS — 100.0%       $276,351,582 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Maturity value of $10,233,721. Collateralized by U.S. Government Agency obligations with a rate of 0.625%, maturity date of 1/15/26, and an aggregate market value, including accrued interest, of $10,437,079.
(b) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Foreign Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.2%          
           
COMMON STOCK — 98.6%          
Australia — 4.7%          
BHP Group Ltd.   22,900   $649,343 
Glencore PLC   283,000    1,618,422 
Macquarie Group Ltd.   16,000    1,721,590 
Santos Ltd.   399,800    2,024,459 
Sonic Healthcare Ltd.   57,600    1,102,033 
Westpac Banking Corp.   61,800    839,598 
         7,955,445 
Belgium — 3.5%          
Anheuser-Busch InBev SA   55,700    3,067,295 
Groupe Bruxelles Lambert NV   14,200    1,055,423 
KBC Group NV   28,500    1,776,902 
         5,899,620 
Canada — 0.7%          
CCL Industries, Inc. Class B   17,900    751,319 
TFI International, Inc. (a)   3,200    410,976 
         1,162,295 
China — 1.0%          
NXP Semiconductors NV   8,200    1,639,344 
Denmark — 0.4%          
Novo Nordisk AS   7,200    654,954 
Finland — 1.1%          
Nokia Oyj   476,200    1,790,953 
France — 9.1%          
Accor SA   28,900    973,067 
Amundi SA (b)   20,500    1,149,744 
Capgemini SE   13,800    2,396,214 
Cie de Saint-Gobain SA   19,100    1,144,253 
Engie SA   65,200    999,738 
Rexel SA   24,800    555,048 
Societe Generale SA   49,000    1,185,323 
Sodexo SA   14,100    1,452,120 
TotalEnergies SE   41,800    2,750,748 
Veolia Environnement SA   90,612    2,621,417 
         15,227,672 
Germany — 11.1%          
Allianz SE Registered   8,500    2,026,923 
BASF SE   21,300    966,859 

 

 

 

 

MML Foreign Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Bayer AG Registered   10,200   $489,905 
Deutsche Boerse AG   9,200    1,590,177 
Deutsche Post AG Registered   46,800    1,907,404 
Heidelberg Materials AG   26,900    2,089,660 
Infineon Technologies AG   60,900    2,019,744 
K&S AG Registered   23,400    425,283 
SAP SE   25,600    3,323,034 
Siemens AG Registered   16,500    2,365,494 
Siemens Energy AG (c)   36,100    472,281 
Talanx AG (c)   6,700    424,901 
Zalando SE (b) (c)   24,100    538,195 
         18,639,860 
Hong Kong — 0.9%          
CK Asset Holdings Ltd.   282,200    1,484,325 
Ireland — 3.9%          
AerCap Holdings NV (c)   39,000    2,444,130 
AIB Group PLC   436,900    1,967,434 
Smurfit Kappa Group PLC   63,100    2,087,558 
         6,499,122 
Israel — 1.1%          
Check Point Software Technologies Ltd. (c)   13,800    1,839,264 
Italy — 0.4%          
Prysmian SpA   15,400    617,842 
Japan — 17.8%          
Astellas Pharma, Inc.   128,700    1,777,657 
Denka Co. Ltd. (a)   36,800    665,338 
FANUC Corp.   58,500    1,527,030 
Fujitsu Ltd.   15,700    1,847,211 
Hitachi Ltd.   37,300    2,312,389 
Kyocera Corp.   38,300    1,942,490 
Nintendo Co. Ltd.   47,000    1,958,032 
Olympus Corp.   86,400    1,119,404 
ORIX Corp.   128,500    2,399,335 
Rakuten Group, Inc.   288,400    1,181,082 
SBI Holdings, Inc.   91,800    1,932,318 
Seven & i Holdings Co. Ltd.   64,000    2,506,213 
Sony Group Corp.   38,800    3,173,905 
Square Enix Holdings Co. Ltd.   16,200    555,043 
Sumitomo Mitsui Financial Group, Inc.   49,800    2,441,355 
Toyota Industries Corp.   30,500    2,401,071 
         29,739,873 
Luxembourg — 0.9%          
ArcelorMittal SA   57,600    1,440,569 
Netherlands — 4.5%          
ASML Holding NV   3,500    2,055,337 
EXOR NV (a)   6,800    602,773 
Heineken Holding NV   22,800    1,715,946 
ING Groep NV   75,900    1,002,656 
Koninklijke Philips NV (a) (c)   35,809    713,655 

 

 

 

 

MML Foreign Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Shell PLC   46,500   $1,476,376 
         7,566,743 
Norway — 1.3%          
Aker BP ASA   61,973    1,712,752 
DNB Bank ASA   23,300    469,294 
         2,182,046 
Republic of Korea — 1.8%          
Samsung Electronics Co. Ltd.   60,700    3,075,363 
Singapore — 1.5%          
DBS Group Holdings Ltd.   100,600    2,470,182 
Sweden — 2.1%          
Essity AB Class B   47,600    1,025,794 
Husqvarna AB Class B (a)   43,000    327,894 
Skandinaviska Enskilda Banken AB Class A   108,000    1,286,399 
Volvo AB Class B   41,898    862,456 
         3,502,543 
Switzerland — 3.8%          
ABB Ltd. Registered   46,300    1,654,588 
Cie Financiere Richemont SA Registered Class A   12,900    1,571,768 
Julius Baer Group Ltd.   15,900    1,018,965 
Novartis AG Registered   20,900    2,132,718 
         6,378,039 
United Kingdom — 19.0%          
Ashtead Group PLC   25,200    1,531,721 
Aviva PLC   141,176    667,520 
Barratt Developments PLC   135,100    724,752 
BP PLC   430,900    2,782,255 
Bunzl PLC   28,500    1,011,540 
Burberry Group PLC   23,200    538,065 
CK Hutchison Holdings Ltd.   461,500    2,459,630 
CNH Industrial NV   140,700    1,704,533 
DCC PLC   34,800    1,950,949 
Dowlais Group PLC   178,196    232,909 
Entain PLC   84,500    961,787 
Inchcape PLC   100,700    927,024 
Informa PLC   119,200    1,086,193 
Kingfisher PLC   171,900    465,956 
Legal & General Group PLC   609,700    1,647,233 
Liberty Global PLC Class C (a) (c)   37,200    690,432 
Lloyds Banking Group PLC   4,364,100    2,349,917 
Persimmon PLC   61,100    799,907 
Reckitt Benckiser Group PLC   36,900    2,607,738 
Smith & Nephew PLC   142,800    1,774,952 
Tesco PLC   641,405    2,062,349 
Unilever PLC (ULVR LN)   56,800    2,802,974 
         31,780,336 
United States — 8.0%          
GSK PLC   103,300    1,867,425 

 

 

 

 

MML Foreign Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Linde PLC (LIN US)   4,700   $1,750,045 
Nestle SA Registered   25,100    2,834,327 
Roche Holding AG   12,800    3,491,394 
Sanofi   22,800    2,446,490 
Stellantis NV   52,200    1,001,239 
         13,390,920 
           
TOTAL COMMON STOCK
(Cost $168,653,461)
        164,937,310 
           
PREFERRED STOCK — 0.6%          
Germany — 0.6%          
Henkel AG & Co. KGaA 2.753%   13,100    934,978 
           
TOTAL PREFERRED STOCK
(Cost $1,022,756)
        934,978 
           
TOTAL EQUITIES
(Cost $169,676,217)
        165,872,288 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $169,676,217)
        165,872,288 
           
SHORT-TERM INVESTMENTS — 0.7%          
Investment of Cash Collateral from Securities Loaned — 0.7%          
State Street Navigator Securities Lending Government Money Market Portfolio (d)   1,107,831    1,107,831 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,107,831)
        1,107,831 
           
TOTAL INVESTMENTS — 99.9%
(Cost $170,784,048) (e)
        166,980,119 
           
Other Assets/(Liabilities) — 0.1%        247,990 
           
NET ASSETS — 100.0%       $167,228,109 

 

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, 2023, was $3,340,845 or 2.00% of net assets. The Fund received $2,383,266 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2023, the aggregate market value of these securities amounted to $1,687,939 or 1.01% of net assets.
(c) Non-income producing security.
(d) Represents investment of security lending cash collateral. (Note 2).
(e) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Fundamental Equity Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 98.1%          
           
COMMON STOCK — 98.1%          
Basic Materials — 1.9%          
Chemicals — 1.9%          
DuPont de Nemours, Inc.   16,253   $1,212,311 
Valvoline, Inc.   44,903    1,447,673 
         2,659,984 
Communications — 13.0%          
Internet — 12.3%          
Airbnb, Inc. Class A (a)   5,613    770,160 
Alphabet, Inc. Class A (a)   36,265    4,745,638 
Amazon.com, Inc. (a)   35,086    4,460,132 
Meta Platforms, Inc. Class A (a)   14,241    4,275,291 
Netflix, Inc. (a)   4,024    1,519,462 
Uber Technologies, Inc. (a)   26,517    1,219,517 
         16,990,200 
Telecommunications — 0.7%          
T-Mobile US, Inc. (a)   7,130    998,556 
         17,988,756 
Consumer, Cyclical — 4.3%          
Auto Manufacturers — 0.3%          
Tesla, Inc. (a)   1,408    352,309 
Auto Parts & Equipment — 1.1%          
Mobileye Global, Inc. Class A (a)   37,736    1,567,931 
Retail — 2.9%          
Starbucks Corp.   22,717    2,073,381 
Walmart, Inc.   11,940    1,909,564 
         3,982,945 
         5,903,185 
Consumer, Non-cyclical — 21.2%          
Agriculture — 0.7%          
British American Tobacco PLC Sponsored ADR (b)   31,177    979,270 
Beverages — 5.1%          
Coca-Cola Co.   29,838    1,670,331 
Constellation Brands, Inc. Class A   13,749    3,455,536 

 

 

 

 

MML Fundamental Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
PepsiCo, Inc.   11,554   $1,957,710 
         7,083,577 
Biotechnology — 1.2%          
Gilead Sciences, Inc.   21,395    1,603,341 
Commercial Services — 1.3%          
Equifax, Inc.   9,448    1,730,685 
Cosmetics & Personal Care — 1.5%          
Coty, Inc. Class A (a)   70,460    772,946 
Kenvue, Inc.   65,297    1,311,164 
         2,084,110 
Health Care – Products — 2.7%          
Boston Scientific Corp. (a)   22,038    1,163,606 
Zimmer Biomet Holdings, Inc.   22,946    2,575,000 
         3,738,606 
Health Care – Services — 3.3%          
HCA Healthcare, Inc.   7,814    1,922,088 
Tenet Healthcare Corp. (a)   16,992    1,119,603 
UnitedHealth Group, Inc.   3,142    1,584,165 
         4,625,856 
Pharmaceuticals — 5.4%          
AstraZeneca PLC Sponsored ADR   22,520    1,525,054 
Becton Dickinson & Co.   3,980    1,028,949 
Eli Lilly & Co.   5,673    3,047,139 
Merck & Co., Inc.   18,518    1,906,428 
         7,507,570 
         29,353,015 
Energy — 4.6%          
Oil & Gas — 3.7%          
Exxon Mobil Corp.   43,021    5,058,409 
Oil & Gas Services — 0.9%          
Schlumberger NV   21,392    1,247,154 
         6,305,563 
Financial — 15.9%          
Banks — 3.6%          
Columbia Banking System, Inc.   18,869    383,041 
JP Morgan Chase & Co.   31,572    4,578,571 
         4,961,612 
Diversified Financial Services — 6.6%          
American Express Co.   15,953    2,380,028 
Charles Schwab Corp.   49,401    2,712,115 
Intercontinental Exchange, Inc.   11,612    1,277,552 
Mastercard, Inc. Class A   6,207    2,457,414 

 

 

 

 

MML Fundamental Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Rocket Cos., Inc. Class A (a)   36,144   $295,658 
         9,122,767 
Insurance — 3.1%          
American International Group, Inc.   11,422    692,173 
Arthur J Gallagher & Co.   5,916    1,348,434 
Equitable Holdings, Inc.   81,824    2,322,983 
         4,363,590 
Real Estate Investment Trusts (REITS) — 2.6%          
Prologis, Inc.   32,050    3,596,331 
         22,044,300 
Industrial — 8.6%          
Aerospace & Defense — 2.1%          
Boeing Co. (a)   15,036    2,882,101 
Building Materials — 1.0%          
Vulcan Materials Co.   6,860    1,385,857 
Electrical Components & Equipment — 0.9%          
Emerson Electric Co.   13,358    1,289,982 
Electronics — 0.9%          
Hubbell, Inc.   3,735    1,170,586 
Machinery – Diversified — 1.6%          
Deere & Co.   2,052    774,384 
Otis Worldwide Corp.   17,092    1,372,658 
         2,147,042 
Transportation — 2.1%          
United Parcel Service, Inc. Class B   19,002    2,961,842 
         11,837,410 
Technology — 26.5%          
Computers — 7.1%          
Amdocs Ltd.   16,631    1,405,153 
Apple, Inc.   49,143    8,413,773 
         9,818,926 
Semiconductors — 6.5%          
Applied Materials, Inc.   12,260    1,697,397 
ARM Holdings PLC ADR (a)   11,507    615,855 
NVIDIA Corp.   10,709    4,658,308 
QUALCOMM, Inc.   6,669    740,659 
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR   15,028    1,305,933 
         9,018,152 
Software — 12.9%          
Fiserv, Inc. (a)   15,474    1,747,943 
Manhattan Associates, Inc. (a)   2,903    573,807 
Microsoft Corp.   32,521    10,268,506 

 

 

 

 

MML Fundamental Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
ServiceNow, Inc. (a)   4,019   $2,246,460 
Snowflake, Inc. Class A (a)   3,528    538,973 
Synopsys, Inc. (a)   3,086    1,416,381 
Tyler Technologies, Inc. (a)   2,748    1,061,113 
         17,853,183 
         36,690,261 
Utilities — 2.1%          
Electric — 2.1%          
Dominion Energy, Inc.   36,741    1,641,220 
FirstEnergy Corp.   34,865    1,191,686 
         2,832,906 
         2,832,906 
           
TOTAL COMMON STOCK
(Cost $126,554,215)
        135,615,380 
           
TOTAL EQUITIES
(Cost $126,554,215)
        135,615,380 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $126,554,215)
        135,615,380 
           
   Principal
Amount
    
SHORT-TERM INVESTMENTS — 1.8%          
Repurchase Agreement — 1.8%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (c)  $2,526,248   2,526,248 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,526,248)
        2,526,248 
           
TOTAL INVESTMENTS — 99.9%
(Cost $129,080,463) (d)
        138,141,628 
           
Other Assets/(Liabilities) — 0.1%        150,233 
           
NET ASSETS — 100.0%       $138,291,861 

 

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, 2023, was $916,014 or 0.66% of net assets. The Fund received $944,037 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 $2,526,585. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 1/31/26, and an aggregate market value, including accrued interest, of $2,576,860.
(d) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Fundamental Value Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.3%          
           
COMMON STOCK — 99.3%          
Basic Materials — 1.3%          
Chemicals — 1.3%          
DuPont de Nemours, Inc.   19,720   $1,470,915 
Olin Corp.   13,023    650,889 
         2,121,804 
Communications — 9.9%          
Advertising — 0.9%          
Omnicom Group, Inc.   18,745    1,396,127 
Internet — 4.6%          
Alphabet, Inc. Class A (a)   41,629    5,447,571 
Booking Holdings, Inc. (a)   430    1,326,098 
Match Group, Inc. (a)   14,851    581,788 
         7,355,457 
Media — 0.6%          
Warner Bros Discovery, Inc. (a)   81,409    884,102 
Telecommunications — 3.8%          
Cisco Systems, Inc.   71,422    3,839,647 
T-Mobile US, Inc. (a)   15,758    2,206,908 
         6,046,555 
         15,682,241 
Consumer, Cyclical — 7.9%          
Auto Parts & Equipment — 0.6%          
BorgWarner, Inc.   24,300    980,991 
Distribution & Wholesale — 1.4%          
LKQ Corp.   16,715    827,560 
WESCO International, Inc.   9,524    1,369,742 
         2,197,302 
Home Furnishing — 1.2%          
Sony Group Corp. Sponsored ADR   15,077    1,242,496 
Whirlpool Corp.   5,479    732,542 
         1,975,038 

 

 

 

 

MML Fundamental Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Lodging — 0.5%          
MGM Resorts International   21,670   $796,589 
Retail — 4.2%          
AutoZone, Inc. (a)   1,193    3,030,208 
Ulta Beauty, Inc. (a)   2,023    808,087 
Walmart, Inc.   17,676    2,826,923 
         6,665,218 
         12,615,138 
Consumer, Non-cyclical — 24.6%          
Agriculture — 1.7%          
Philip Morris International, Inc.   29,174    2,700,929 
Beverages — 2.3%          
Coca-Cola Europacific Partners PLC   20,368    1,272,593 
Keurig Dr Pepper, Inc.   73,297    2,313,986 
         3,586,579 
Biotechnology — 1.6%          
Amgen, Inc.   7,242    1,946,360 
Corteva, Inc.   11,739    600,567 
         2,546,927 
Commercial Services — 3.9%          
FleetCor Technologies, Inc. (a)   7,310    1,866,536 
Global Payments, Inc.   18,077    2,085,905 
United Rentals, Inc.   4,951    2,201,066 
         6,153,507 
Cosmetics & Personal Care — 0.5%          
Kenvue, Inc.   39,050    784,124 
Food — 1.1%          
US Foods Holding Corp. (a)   42,853    1,701,264 
Health Care – Products — 1.1%          
Avantor, Inc. (a)   85,040    1,792,643 
Health Care – Services — 4.1%          
Centene Corp. (a)   25,295    1,742,320 
ICON PLC (a)   8,182    2,014,817 
UnitedHealth Group, Inc.   5,595    2,820,943 
         6,578,080 
Pharmaceuticals — 8.3%          
Bristol-Myers Squibb Co.   71,054    4,123,974 
Cencora, Inc.   11,626    2,092,331 
Cigna Group   7,899    2,259,667 
McKesson Corp.   3,922    1,705,482 

 

 

 

 

MML Fundamental Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Sanofi ADR   56,390   $3,024,760 
         13,206,214 
         39,050,267 
Energy — 12.1%          
Coal — 1.1%          
Peabody Energy Corp.   32,906    855,227 
Teck Resources Ltd. Class B   20,338    876,365 
         1,731,592 
Oil & Gas — 8.4%          
BP PLC Sponsored ADR   46,058    1,783,366 
Canadian Natural Resources Ltd.   36,486    2,359,550 
Cenovus Energy, Inc. (b)   124,982    2,602,125 
ConocoPhillips   19,464    2,331,787 
Marathon Petroleum Corp.   18,786    2,843,073 
Pioneer Natural Resources Co.   6,002    1,377,759 
         13,297,660 
Oil & Gas Services — 2.6%          
Halliburton Co.   40,664    1,646,892 
Schlumberger NV   42,241    2,462,650 
         4,109,542 
         19,138,794 
Financial — 19.0%          
Banks — 8.6%          
Goldman Sachs Group, Inc.   5,989    1,937,861 
JP Morgan Chase & Co.   41,102    5,960,612 
Morgan Stanley   34,332    2,803,894 
Wells Fargo & Co.   70,153    2,866,452 
         13,568,819 
Diversified Financial Services — 2.8%          
American Express Co.   8,159    1,217,241 
Discover Financial Services   22,384    1,939,126 
Intercontinental Exchange, Inc.   11,775    1,295,486 
         4,451,853 
Insurance — 7.1%          
Aon PLC Class A   2,777    900,359 
Arthur J Gallagher & Co.   6,452    1,470,604 
Berkshire Hathaway, Inc. Class B (a)   16,794    5,882,938 
Chubb Ltd.   9,142    1,903,182 
Progressive Corp.   8,525    1,187,532 
         11,344,615 
Private Equity — 0.5%          
Ares Management Corp. Class A   7,439    765,250 
         30,130,537 

 

 

 

 

MML Fundamental Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Industrial — 12.8%          
Aerospace & Defense — 3.9%          
General Dynamics Corp.   10,879   $2,403,932 
Howmet Aerospace, Inc.   34,819    1,610,379 
RTX Corp.   30,570    2,200,123 
         6,214,434 
Building Materials — 2.4%          
CRH PLC (b)   31,217    1,708,506 
Masco Corp.   20,347    1,087,547 
Mohawk Industries, Inc. (a)   11,771    1,010,070 
         3,806,123 
Electronics — 1.8%          
Allegion PLC   10,732    1,118,274 
Fortive Corp.   22,860    1,695,298 
         2,813,572 
Engineering & Construction — 0.3%          
Jacobs Solutions, Inc.   4,201    573,437 
Machinery – Construction & Mining — 0.5%          
Caterpillar, Inc.   2,802    764,946 
Machinery – Diversified — 2.9%          
Deere & Co.   3,519    1,328,000 
Dover Corp.   7,080    987,731 
Otis Worldwide Corp.   11,594    931,114 
Westinghouse Air Brake Technologies Corp.   12,242    1,300,957 
         4,547,802 
Miscellaneous - Manufacturing — 1.0%          
Eaton Corp. PLC   7,271    1,550,759 
         20,271,073 
Technology — 10.4%          
Computers — 3.0%          
Cognizant Technology Solutions Corp. Class A   21,493    1,455,936 
Dell Technologies, Inc. Class C   28,102    1,936,228 
Leidos Holdings, Inc.   14,317    1,319,454 
         4,711,618 
Semiconductors — 6.3%          
Advanced Micro Devices, Inc. (a)   17,383    1,787,320 
Applied Materials, Inc.   13,573    1,879,182 
Lam Research Corp.   1,512    947,676 
Microchip Technology, Inc.   22,571    1,761,667 
Micron Technology, Inc.   27,399    1,863,954 
NXP Semiconductors NV   2,092    418,233 

 

 

 

 

MML Fundamental Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
QUALCOMM, Inc.   11,904   $1,322,058 
         9,980,090 
Software — 1.1%          
SS&C Technologies Holdings, Inc.   21,068    1,106,913 
Take-Two Interactive Software, Inc. (a)   5,141    721,745 
         1,828,658 
         16,520,366 
Utilities — 1.3%          
Electric — 1.3%          
CenterPoint Energy, Inc.   28,992    778,435 
FirstEnergy Corp.   35,906    1,227,267 
         2,005,702 
           
TOTAL COMMON STOCK
(Cost $132,810,142)
        157,535,922 
           
TOTAL EQUITIES
(Cost $132,810,142)
        157,535,922 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $132,810,142)
        157,535,922 
           
SHORT-TERM INVESTMENTS — 1.5%          
Investment of Cash Collateral from Securities Loaned — 0.2%          
State Street Navigator Securities Lending Government Money Market Portfolio (c)   337,413    337,413 
           
   Principal
Amount
    
Repurchase Agreement — 1.3%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (d)  $2,039,734   2,039,734 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,377,147)
        2,377,147 
           
TOTAL INVESTMENTS — 100.8%
(Cost $135,187,289) (e)
        159,913,069 
           
Other Assets/(Liabilities) — (0.8)%        (1,241,366) 
           
NET ASSETS — 100.0%       $158,671,703 

 

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, 2023, was $329,891 or 0.21% of net assets. (Note 2).
(c) Represents investment of security lending cash collateral. (Note 2).
(d) Maturity value of $2,040,006. Collateralized by U.S. Government Agency obligations with a rate of 0.625%, maturity date of 1/15/26, and an aggregate market value, including accrued interest, of $2,080,555.
(e) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Global Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.0%          
           
COMMON STOCK — 99.0%          
Austria — 0.5%          
Erste Group Bank AG   18,785   $648,931 
Canada — 3.5%          
Canadian National Railway Co. (a)   17,467    1,892,200 
Canadian Pacific Kansas City Ltd. (a)   32,490    2,417,581 
         4,309,781 
Denmark — 0.5%          
Carlsberg AS Class B   4,746    598,049 
France — 8.0%          
Air Liquide SA   7,474    1,259,496 
Danone SA   30,082    1,657,395 
EssilorLuxottica SA   2,893    502,883 
Hermes International SCA   285    518,100 
Legrand SA   17,179    1,576,633 
LVMH Moet Hennessy Louis Vuitton SE   3,455    2,606,544 
Pernod Ricard SA   9,477    1,577,550 
         9,698,601 
Germany — 3.9%          
Bayer AG Registered   24,409    1,172,362 
Brenntag SE   7,713    598,954 
Deutsche Boerse AG   3,771    651,800 
Merck KGaA   10,938    1,828,187 
MTU Aero Engines AG   2,613    474,747 
         4,726,050 
Israel — 1.2%          
Check Point Software Technologies Ltd. (b)   11,363    1,514,461 
Japan — 2.5%          
Hoya Corp.   4,800    494,657 
Kubota Corp.   86,300    1,276,540 
Olympus Corp.   100,600    1,303,381 
         3,074,578 
Mexico — 0.3%          
Grupo Financiero Banorte SAB de CV Class O   46,619    390,741 
Netherlands — 2.3%          
Akzo Nobel NV   14,149    1,021,056 

 

 

 

 

MML Global Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Heineken NV   19,759   $1,738,151 
         2,759,207 
Republic of Korea — 1.1%          
Samsung Electronics Co. Ltd.   26,793    1,357,466 
Spain — 1.4%          
Aena SME SA (c)   7,026    1,056,824 
Cellnex Telecom SA (c)   18,902    657,249 
         1,714,073 
Sweden — 1.1%          
Essity AB Class B   62,296    1,342,497 
Switzerland — 4.6%          
Adecco Group AG Registered   8,203    336,476 
Cie Financiere Richemont SA Registered Class A   14,477    1,763,913 
Julius Baer Group Ltd.   8,874    568,698 
Sonova Holding AG Registered   2,808    665,435 
UBS Group AG Registered   92,273    2,280,782 
         5,615,304 
United Kingdom — 7.8%          
Burberry Group PLC   33,885    785,877 
Compass Group PLC   28,976    705,906 
Diageo PLC   63,873    2,355,561 
Intertek Group PLC   15,086    754,346 
London Stock Exchange Group PLC   9,253    928,880 
Reckitt Benckiser Group PLC   22,974    1,623,581 
Rolls-Royce Holdings PLC (b)   381,342    1,022,248 
Whitbread PLC   14,509    610,342 
WPP PLC   76,956    685,819 
         9,472,560 
United States — 60.3%          
3M Co.   9,947    931,238 
Abbott Laboratories   16,703    1,617,685 
Accenture PLC Class A   9,886    3,036,089 
Alphabet, Inc. Class A (b)   20,360    2,664,310 
American Express Co.   9,964    1,486,529 
Amphenol Corp. Class A   11,053    928,341 
Aon PLC Class A   5,501    1,783,534 
Aptiv PLC (b)   4,727    466,035 
Boston Scientific Corp. (b)   40,180    2,121,504 
Carrier Global Corp.   7,560    417,312 
Charles Schwab Corp.   39,214    2,152,849 
Cognizant Technology Solutions Corp. Class A   19,000    1,287,060 
Comcast Corp. Class A   72,763    3,226,311 
Cooper Cos., Inc.   3,276    1,041,801 
eBay, Inc.   20,142    888,061 
Equifax, Inc.   4,531    829,988 
Experian PLC   22,670    740,610 
Fidelity National Information Services, Inc.   17,519    968,275 
Fiserv, Inc. (b)   11,551    1,304,801 
Goldman Sachs Group, Inc.   6,652    2,152,388 
Honeywell International, Inc.   14,082    2,601,509 

 

 

 

 

MML Global Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
International Flavors & Fragrances, Inc.   20,319   $1,385,146 
Liberty Broadband Corp. Class C (b)   17,465    1,594,904 
Linde PLC (LIN US)   9,387    3,495,249 
Marriott International, Inc. Class A   4,593    902,800 
Medtronic PLC   38,574    3,022,659 
Microchip Technology, Inc.   9,032    704,948 
Nestle SA Registered   23,141    2,613,114 
Omnicom Group, Inc.   4,262    317,434 
Oracle Corp.   22,528    2,386,166 
Otis Worldwide Corp.   8,751    702,793 
PayPal Holdings, Inc. (b)   6,181    361,341 
PPG Industries, Inc.   9,858    1,279,568 
Roche Holding AG   10,319    2,814,664 
Schneider Electric SE   21,151    3,487,012 
Stryker Corp.   4,525    1,236,547 
Thermo Fisher Scientific, Inc.   6,188    3,132,180 
Union Pacific Corp.   7,128    1,451,475 
United Parcel Service, Inc. Class B   7,024    1,094,831 
Visa, Inc. Class A   15,976    3,674,640 
Walt Disney Co. (b)   15,851    1,284,723 
Waters Corp. (b)   5,732    1,571,772 
Willis Towers Watson PLC   11,125    2,324,680 
         73,484,876 
           
TOTAL COMMON STOCK
(Cost $108,729,230)
        120,707,175 
           
TOTAL EQUITIES
(Cost $108,729,230)
        120,707,175 
           
WARRANTS — 0.1%          
Switzerland — 0.1%          
Cie Financiere Richemont SA, Expires 11/22/23, Strike 67.00 (b)   105,484    78,339 
           
TOTAL WARRANTS
(Cost $0)
        78,339 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $108,729,230)
        120,785,514 
           
SHORT-TERM INVESTMENTS — 4.2%          
Investment of Cash Collateral from Securities Loaned — 3.6%          
State Street Navigator Securities Lending Government Money Market Portfolio (d)   4,355,306    4,355,306 
           
   Principal
Amount
    
Repurchase Agreement — 0.6%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (e)  $801,340   801,340 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,156,646)
        5,156,646 

 

 

 

 

MML Global Fund —  Portfolio of Investments (Continued)

 

   Principal
Amount
   Value 
TOTAL INVESTMENTS — 103.3%
(Cost $113,885,876) (f)
       $125,942,160 
           
Other Assets/(Liabilities) — (3.3)%        (4,031,992) 
           
NET ASSETS — 100.0%       $121,910,168 

 

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, 2023, was $4,266,640 or 3.50% of net assets. (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, 2023, the aggregate market value of these securities amounted to $1,714,073 or 1.41% of net assets.
(d) Represents investment of security lending cash collateral. (Note 2).
(e) Maturity value of $801,447. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $817,406.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Income & Growth Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 97.9%          
           
COMMON STOCK — 97.9%          
Basic Materials — 6.8%          
Chemicals — 6.8%          
Air Products & Chemicals, Inc.   12,910   $3,658,694 
Axalta Coating Systems Ltd. (a)   46,011    1,237,696 
DuPont de Nemours, Inc.   45,309    3,379,598 
Element Solutions, Inc.   52,879    1,036,957 
International Flavors & Fragrances, Inc.   18,659    1,271,984 
         10,584,929 
Communications — 3.8%          
Internet — 0.9%          
Alphabet, Inc. Class C (a)   10,600    1,397,610 
Media — 2.5%          
Comcast Corp. Class A   86,066    3,816,167 
Telecommunications — 0.4%          
T-Mobile US, Inc. (a)   4,863    681,063 
         5,894,840 
Consumer, Cyclical — 5.6%          
Auto Parts & Equipment — 0.7%          
Aptiv PLC (a)   11,141    1,098,391 
Entertainment — 0.8%          
Marriott Vacations Worldwide Corp.   5,628    566,346 
SeaWorld Entertainment, Inc. (a)   14,213    657,351 
         1,223,697 
Food Services — 0.7%          
Aramark   31,898    1,106,861 
Home Furnishing — 0.4%          
SharkNinja, Inc. (a) (b)   14,603    676,995 
Lodging — 1.6%          
Las Vegas Sands Corp.   27,981    1,282,649 
Wynn Resorts Ltd.   12,892    1,191,350 
         2,473,999 
Retail — 1.4%          
AutoNation, Inc. (a)   5,094    771,232 

 

 

 

 

MML Income & Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Dollar General Corp.   5,868   $620,834 
Lithia Motors, Inc.   2,928    864,726 
         2,256,792 
         8,836,735 
Consumer, Non-cyclical — 24.5%          
Agriculture — 3.2%          
Philip Morris International, Inc.   53,364    4,940,439 
Beverages — 2.5%          
Coca-Cola Europacific Partners PLC   43,996    2,748,870 
Molson Coors Beverage Co. Class B   18,896    1,201,597 
         3,950,467 
Commercial Services — 0.5%          
U-Haul Holding Co. (UHAL/B US)   15,270    799,995 
Cosmetics & Personal Care — 1.0%          
Procter & Gamble Co.   10,607    1,547,137 
Food — 0.5%          
Tyson Foods, Inc. Class A   15,165    765,681 
Health Care – Products — 4.1%          
Avantor, Inc. (a)   57,182    1,205,396 
LivaNova PLC (a)   11,876    628,003 
Medtronic PLC   43,886    3,438,907 
Smith & Nephew PLC ADR Sponsored ADR   47,419    1,174,569 
         6,446,875 
Health Care – Services — 4.1%          
Elevance Health, Inc.   2,301    1,001,901 
Humana, Inc.   3,261    1,586,542 
UnitedHealth Group, Inc.   7,684    3,874,196 
         6,462,639 
Pharmaceuticals — 8.6%          
Cigna Group   12,124    3,468,313 
CVS Health Corp.   53,811    3,757,084 
Johnson & Johnson   13,153    2,048,580 
Merck & Co., Inc.   40,253    4,144,046 
         13,418,023 
         38,331,256 
Energy — 10.1%          
Oil & Gas — 6.3%          
Hess Corp.   27,110    4,147,830 
Phillips 66   34,513    4,146,737 
Pioneer Natural Resources Co.   6,601    1,515,260 
         9,809,827 

 

 

 

 

MML Income & Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Oil & Gas Services — 0.8%          
Halliburton Co.   33,300   $1,348,650 
Pipelines — 3.0%          
Enbridge, Inc.   94,490    3,136,123 
Plains GP Holdings LP Class A   92,743    1,495,017 
         4,631,140 
         15,789,617 
Financial — 20.1%          
Banks — 7.6%          
JP Morgan Chase & Co.   13,922    2,018,968 
M&T Bank Corp.   17,221    2,177,595 
Northern Trust Corp.   30,976    2,152,213 
US Bancorp   64,648    2,137,263 
Wells Fargo & Co.   82,500    3,370,950 
         11,856,989 
Diversified Financial Services — 1.2%          
AerCap Holdings NV (a)   19,585    1,227,392 
American Express Co.   4,423    659,867 
         1,887,259 
Insurance — 7.3%          
Allstate Corp.   33,806    3,766,326 
American International Group, Inc.   17,372    1,052,743 
Axis Capital Holdings Ltd.   14,203    800,623 
Berkshire Hathaway, Inc. Class B (a)   3,065    1,073,670 
Chubb Ltd.   16,945    3,527,610 
Willis Towers Watson PLC   5,408    1,130,056 
         11,351,028 
Real Estate — 0.6%          
Howard Hughes Holdings, Inc. (a)   13,323    987,634 
Real Estate Investment Trusts (REITS) — 3.4%          
COPT Defense Properties   57,144    1,361,742 
Public Storage   9,160    2,413,843 
VICI Properties, Inc.   52,797    1,536,393 
         5,311,978 
         31,394,888 
Industrial — 12.1%          
Aerospace & Defense — 2.6%          
General Dynamics Corp.   9,570    2,114,683 
RTX Corp.   28,337    2,039,414 
         4,154,097 
Building Materials — 2.0%          
CRH PLC   24,830    1,358,946 
Knife River Corp. (a)   16,954    827,864 

 

 

 

 

MML Income & Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
MDU Resources Group, Inc.   45,966   $900,014 
         3,086,824 
Engineering & Construction — 0.7%          
AECOM   13,296    1,104,100 
Hand & Machine Tools — 2.1%          
Stanley Black & Decker, Inc.   39,351    3,288,957 
Machinery – Construction & Mining — 3.3%          
BWX Technologies, Inc.   20,432    1,531,991 
Vertiv Holdings Co.   96,488    3,589,354 
         5,121,345 
Machinery – Diversified — 0.5%          
Deere & Co.   1,940    732,117 
Transportation — 0.9%          
JB Hunt Transport Services, Inc.   7,308    1,377,704 
         18,865,144 
Technology — 10.0%          
Computers — 1.5%          
CACI International, Inc. Class A (a)   3,715    1,166,250 
Cognizant Technology Solutions Corp. Class A   17,726    1,200,759 
         2,367,009 
Semiconductors — 3.9%          
Broadcom, Inc.   2,417    2,007,512 
Microchip Technology, Inc.   12,730    993,576 
QUALCOMM, Inc.   10,616    1,179,013 
Skyworks Solutions, Inc.   18,739    1,847,478 
         6,027,579 
Software — 4.6%          
Electronic Arts, Inc.   9,633    1,159,813 
Fidelity National Information Services, Inc.   56,140    3,102,858 
Oracle Corp.   27,769    2,941,293 
         7,203,964 
         15,598,552 
Utilities — 4.9%          
Electric — 4.9%          
CenterPoint Energy, Inc.   36,805    988,214 
Entergy Corp.   33,985    3,143,612 
Exelon Corp.   23,763    898,004 

 

 

 

 

MML Income & Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Pinnacle West Capital Corp.   36,285   $2,673,479 
         7,703,309 
           
TOTAL COMMON STOCK
(Cost $135,260,005)
        152,999,270 
           
TOTAL EQUITIES
(Cost $135,260,005)
        152,999,270 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $135,260,005)
        152,999,270 
           
SHORT-TERM INVESTMENTS — 0.3%          
Investment of Cash Collateral from Securities Loaned — 0.1%          
State Street Navigator Securities Lending Government Money Market Portfolio (c)   96,520    96,520 
           
   Principal
Amount
    
Repurchase Agreement — 0.2%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (d)  $318,898   318,898 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $415,418)
        415,418 
           
TOTAL INVESTMENTS — 98.2%
(Cost $135,675,423) (e)
        153,414,688 
           
Other Assets/(Liabilities) — 1.8%        2,785,595 
           
NET ASSETS — 100.0%       $156,200,283 

 

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, 2023, was $94,204 or 0.06% of net assets. (Note 2).
(c) Represents investment of security lending cash collateral. (Note 2).
(d) Maturity value of $318,941. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $325,325.
(e) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML International Equity Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 98.0%          
           
COMMON STOCK — 97.4%          
Australia — 1.2%          
Glencore PLC   245,844   $1,405,935 
Rio Tinto PLC   21,473    1,348,872 
         2,754,807 
Belgium — 1.0%          
Anheuser-Busch InBev SA   21,500    1,183,965 
KBC Group NV   15,300    953,916 
         2,137,881 
Canada — 3.3%          
Canadian National Railway Co. (a)   18,577    2,012,447 
Intact Financial Corp.   7,632    1,112,673 
Open Text Corp.   36,900    1,295,066 
Suncor Energy, Inc.   38,114    1,310,734 
Toronto-Dominion Bank (a)   28,245    1,701,666 
         7,432,586 
China — 2.9%          
Alibaba Group Holding Ltd. (b)   113,940    1,235,269 
NetEase, Inc.   62,800    1,260,745 
Prosus NV (PRX NA) (b)   52,516    1,547,624 
Tencent Holdings Ltd.   33,400    1,294,419 
Vipshop Holdings Ltd. ADR (b)   17,851    285,794 
Yum China Holdings, Inc.   17,763    989,754 
         6,613,605 
Denmark — 2.3%          
Carlsberg AS Class B   9,442    1,189,796 
DSV AS   3,220    600,309 
Novo Nordisk AS   37,977    3,454,610 
         5,244,715 
France — 16.0%          
Accor SA   38,800    1,306,401 
Air Liquide SA   26,991    4,548,442 
BNP Paribas SA   38,476    2,449,495 
Capgemini SE   26,010    4,516,343 
Cie de Saint-Gobain SA   27,772    1,663,780 
Cie Generale des Etablissements Michelin SCA   34,153    1,046,783 
Danone SA   18,800    1,035,803 
Dassault Systemes SE   21,675    805,849 
Edenred SE   11,800    737,268 
Engie SA   136,738    2,096,659 

 

 

 

 

MML International Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
EssilorLuxottica SA   13,160   $2,287,571 
Kering SA   4,030    1,832,287 
L'Oreal SA   3,079    1,275,135 
Legrand SA   15,599    1,431,625 
LVMH Moet Hennessy Louis Vuitton SE   4,755    3,587,299 
Pernod Ricard SA   12,938    2,153,671 
Publicis Groupe SA   13,251    1,000,672 
Valeo SE   57,784    989,883 
Worldline SA (b) (c)   52,300    1,462,429 
         36,227,395 
Germany — 15.1%          
adidas AG   6,100    1,073,990 
Allianz SE Registered   7,385    1,761,038 
Bayer AG Registered   80,818    3,881,681 
Bayerische Motoren Werke AG   15,700    1,599,193 
Beiersdorf AG   22,930    2,960,819 
Brenntag SE   11,800    916,330 
Continental AG   25,320    1,788,913 
Daimler Truck Holding AG   46,090    1,598,424 
Deutsche Boerse AG   14,779    2,554,481 
Fresenius Medical Care AG & Co. KGaA   38,300    1,654,215 
Fresenius SE & Co. KGaA   58,500    1,823,579 
Henkel AG & Co. KGaA   12,900    814,617 
Mercedes-Benz Group AG Registered   30,998    2,159,076 
Merck KGaA   14,869    2,485,218 
MTU Aero Engines AG   4,128    750,003 
SAP SE   34,371    4,461,562 
Siemens AG Registered   8,425    1,207,836 
thyssenkrupp AG   83,574    638,247 
         34,129,222 
Hong Kong — 2.4%          
AIA Group Ltd.   324,800    2,627,329 
Prudential PLC   263,780    2,840,415 
         5,467,744 
India — 1.2%          
Axis Bank Ltd.   57,582    715,504 
HDFC Bank Ltd. ADR   33,459    1,974,416 
         2,689,920 
Indonesia — 0.1%          
Bank Mandiri Persero Tbk PT   293,000    114,225 
Ireland — 1.4%          
Ryanair Holdings PLC Sponsored ADR (b)   33,481    3,254,688 
Israel — 0.9%          
Check Point Software Technologies Ltd. (b)   15,427    2,056,111 
Italy — 2.8%          
Eni SpA (a)   125,809    2,020,676 
Intesa Sanpaolo SpA   1,633,161    4,196,891 
         6,217,567 

 

 

 

 

MML International Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Japan — 10.6%          
Daikin Industries Ltd.   13,600   $2,133,639 
Denso Corp.   121,600    1,951,637 
Fujitsu Ltd.   8,800    1,035,380 
Hitachi Ltd.   52,900    3,279,501 
Hoya Corp.   12,100    1,246,948 
Koito Manufacturing Co. Ltd.   37,100    559,624 
Komatsu Ltd.   28,700    775,607 
Kose Corp.   10,200    739,432 
Kubota Corp.   44,200    653,801 
Kyocera Corp.   32,600    1,653,399 
Mitsubishi Electric Corp.   84,500    1,044,677 
Olympus Corp.   104,700    1,356,501 
Recruit Holdings Co. Ltd.   26,100    803,736 
Seven & i Holdings Co. Ltd.   18,800    736,200 
Shin-Etsu Chemical Co. Ltd.   32,300    937,488 
SMC Corp.   3,500    1,566,711 
Sony Group Corp.   25,400    2,077,763 
Terumo Corp.   46,700    1,237,180 
ZOZO, Inc. (a)   15,500    284,295 
         24,073,519 
Luxembourg — 0.4%          
Eurofins Scientific SE   16,900    952,864 
Netherlands — 2.3%          
Akzo Nobel NV   9,035    652,006 
EXOR NV (a)   15,770    1,397,901 
ING Groep NV   179,101    2,365,965 
Randstad NV   14,915    822,142 
         5,238,014 
Portugal — 0.6%          
Galp Energia SGPS SA   93,452    1,384,320 
Republic of Korea — 1.2%          
NAVER Corp.   10,435    1,557,194 
Samsung Electronics Co. Ltd. GDR (c)   845    1,062,900 
         2,620,094 
Singapore — 0.9%          
DBS Group Holdings Ltd.   77,900    1,912,795 
Spain — 1.1%          
Amadeus IT Group SA   41,821    2,520,288 
Sweden — 1.3%          
Sandvik AB   30,200    553,689 
SKF AB Class B   79,400    1,316,553 
Volvo AB Class B   55,870    1,150,064 
         3,020,306 
Switzerland — 7.4%          
Cie Financiere Richemont SA Registered Class A   26,304    3,204,944 
Julius Baer Group Ltd.   18,700    1,198,406 
Novartis AG Registered   35,574    3,630,111 

 

 

 

 

MML International Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Schindler Holding AG   2,910   $580,035 
Sika AG Registered   4,624    1,171,986 
Sonova Holding AG Registered   4,457    1,056,212 
Swatch Group AG   3,250    833,271 
UBS Group AG Registered   116,067    2,868,916 
Zurich Insurance Group AG   4,862    2,227,950 
         16,771,831 
Taiwan — 0.8%          
Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR   20,686    1,797,613 
United Kingdom — 10.9%          
Ashtead Group PLC   12,200    741,548 
Bunzl PLC   2,400    85,182 
CNH Industrial NV   183,753    2,226,106 
Compass Group PLC   153,250    3,733,436 
Diageo PLC   55,489    2,046,369 
Informa PLC   61,300    558,588 
Liberty Global PLC Class A (b)   43,300    741,296 
Lloyds Banking Group PLC   5,248,284    2,826,020 
London Stock Exchange Group PLC   18,709    1,878,138 
Reckitt Benckiser Group PLC   19,327    1,365,847 
RELX PLC   77,682    2,619,795 
Rolls-Royce Holdings PLC (b)   529,237    1,418,704 
Schroders PLC   303,817    1,501,626 
Smiths Group PLC   22,100    435,452 
Tesco PLC   385,312    1,238,917 
WPP PLC   146,592    1,306,404 
         24,723,428 
United States — 9.3%          
Experian PLC   67,825    2,215,785 
Holcim AG   18,459    1,181,847 
Linde PLC (LIN US)   6,132    2,283,250 
Nestle SA Registered   44,624    5,039,004 
QIAGEN NV (b)   33,745    1,365,728 
Roche Holding AG   17,171    4,683,651 
Schneider Electric SE   26,003    4,286,927 
         21,056,192 
           
TOTAL COMMON STOCK
(Cost $232,727,859)
        220,411,730 
           
PREFERRED STOCK — 0.6%          
Republic of Korea — 0.6%          
Samsung Electronics Co. Ltd. 1.989%   30,900    1,247,515 
           
TOTAL PREFERRED STOCK
(Cost $1,610,697)
        1,247,515 
           
TOTAL EQUITIES
(Cost $234,338,556)
        221,659,245 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $234,338,556)
        221,659,245 

 

 

 

 

MML International Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
SHORT-TERM INVESTMENTS — 4.6%          
           
Investment of Cash Collateral from Securities Loaned — 0.9%          
State Street Navigator Securities Lending Government Money Market Portfolio (d)   2,040,796   $2,040,796 
           
   Principal
Amount
    
Repurchase Agreement — 3.7%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (e)  $8,433,935   8,433,935 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $10,474,731)
        10,474,731 
           
TOTAL INVESTMENTS — 102.6%
(Cost $244,813,287) (f)
        232,133,976 
           
Other Assets/(Liabilities) — (2.6)%        (5,881,885) 
           
NET ASSETS — 100.0%       $226,252,091 

 

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, 2023, was $6,981,014 or 3.09% of net assets. The Fund received $5,243,637 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, 2023, the aggregate market value of these securities amounted to $2,525,329 or 1.12% of net assets.
(d) Represents investment of security lending cash collateral. (Note 2).
(e) Maturity value of $8,435,060. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 0.500%, maturity dates ranging from 1/31/26 - 2/28/26, and an aggregate market value, including accrued interest, of $8,602,649.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Large Cap Growth Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 98.4%          
           
COMMON STOCK — 98.4%          
Communications — 30.7%          
Internet — 26.2%          
Alibaba Group Holding Ltd. Sponsored ADR (a)   22,450   $1,947,313 
Alphabet, Inc. Class A (a)   54,673    7,154,509 
Alphabet, Inc. Class C (a)   40,062    5,282,175 
Amazon.com, Inc. (a)   77,592    9,863,495 
Meta Platforms, Inc. Class A (a)   48,818    14,655,652 
Netflix, Inc. (a)   19,254    7,270,310 
Shopify, Inc. Class A (a)   57,156    3,119,003 
         49,292,457 
Media — 4.5%          
FactSet Research Systems, Inc.   7,141    3,122,474 
Walt Disney Co. (a)   64,952    5,264,359 
         8,386,833 
         57,679,290 
Consumer, Cyclical — 9.8%          
Auto Manufacturers — 6.0%          
Tesla, Inc. (a)   44,940    11,244,887 
Retail — 3.8%          
Starbucks Corp.   38,257    3,491,716 
Yum China Holdings, Inc.   21,949    1,222,998 
Yum! Brands, Inc.   18,755    2,343,250 
         7,057,964 
         18,302,851 
Consumer, Non-cyclical — 18.4%          
Beverages — 3.2%          
Monster Beverage Corp. (a)   112,976    5,982,079 
Biotechnology — 6.3%          
Illumina, Inc. (a)   17,873    2,453,606 
Regeneron Pharmaceuticals, Inc. (a)   5,349    4,402,013 
Vertex Pharmaceuticals, Inc. (a)   14,377    4,999,458 
         11,855,077 
Commercial Services — 1.8%          
Block, Inc. (a)   34,453    1,524,890 

 

 

 

 

MML Large Cap Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
PayPal Holdings, Inc. (a)   31,250   $1,826,875 
         3,351,765 
Health Care – Products — 2.6%          
Intuitive Surgical, Inc. (a)   8,274    2,418,407 
Thermo Fisher Scientific, Inc.   4,728    2,393,172 
         4,811,579 
Pharmaceuticals — 4.5%          
Novartis AG Sponsored ADR   27,103    2,760,712 
Novo Nordisk AS Sponsored ADR   40,742    3,705,077 
Roche Holding AG Sponsored ADR   61,653    2,091,886 
         8,557,675 
         34,558,175 
Financial — 6.9%          
Diversified Financial Services — 6.9%          
SEI Investments Co.   40,676    2,449,916 
Visa, Inc. Class A   45,423    10,447,744 
         12,897,660 
Industrial — 7.1%          
Aerospace & Defense — 4.8%          
Boeing Co. (a)   46,957    9,000,718 
Machinery – Diversified — 0.7%          
Deere & Co.   3,342    1,261,204 
Transportation — 1.6%          
Expeditors International of Washington, Inc.   27,101    3,106,587 
         13,368,509 
Technology — 25.5%          
Semiconductors — 9.0%          
NVIDIA Corp.   32,241    14,024,513 
QUALCOMM, Inc.   26,237    2,913,881 
         16,938,394 
Software — 16.5%          
Autodesk, Inc. (a)   27,331    5,655,057 
Microsoft Corp.   28,576    9,022,872 
Oracle Corp.   82,172    8,703,658 
Salesforce, Inc. (a)   27,442    5,564,689 

 

 

 

 

MML Large Cap Growth Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Workday, Inc. Class A (a)   9,522   $2,045,802 
         30,992,078 
         47,930,472 
           
TOTAL COMMON STOCK
(Cost $154,037,908)
        184,736,957 
           
TOTAL EQUITIES
(Cost $154,037,908)
        184,736,957 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $154,037,908)
        184,736,957 
           
   Principal
Amount
    
SHORT-TERM INVESTMENTS — 1.8%          
Repurchase Agreement — 1.8%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (b)  $3,279,897   3,279,897 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $3,279,897)
        3,279,897 
           
TOTAL INVESTMENTS — 100.2%
(Cost $157,317,805) (c)
        188,016,854 
           
Other Assets/(Liabilities) — (0.2)%        (342,360) 
           
NET ASSETS — 100.0%       $187,674,494 

 

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) Maturity value of $3,280,335. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26 , and an aggregate market value, including accrued interest, of $3,345,578.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 97.8%          
           
COMMON STOCK — 97.8%          
Basic Materials — 1.9%          
Chemicals — 1.5%          
Air Products & Chemicals, Inc. (a)   596   $168,906 
Albemarle Corp. (a)   330    56,113 
Celanese Corp. (a)   248    31,129 
CF Industries Holdings, Inc. (a)   510    43,727 
Dow, Inc. (a)   1,821    93,891 
DuPont de Nemours, Inc. (a)   1,219    90,925 
Eastman Chemical Co. (a)   327    25,088 
Ecolab, Inc. (a)   662    112,143 
FMC Corp. (a)   313    20,962 
International Flavors & Fragrances, Inc. (a)   723    49,287 
Linde PLC (LIN US) (a)   1,324    492,991 
LyondellBasell Industries NV Class A (a)   693    65,627 
Mosaic Co. (a)   859    30,580 
PPG Industries, Inc. (a)   637    82,683 
Sherwin-Williams Co. (a)   639    162,977 
         1,527,029 
Forest Products & Paper — 0.0%          
International Paper Co. (a)   898    31,852 
Iron & Steel — 0.2%          
Nucor Corp. (a)   675    105,536 
Steel Dynamics, Inc. (a)   443    47,499 
         153,035 
Mining — 0.2%          
Freeport-McMoRan, Inc. (a)   3,859    143,902 
Newmont Corp. (a)   2,139    79,036 
         222,938 
         1,934,854 
Communications — 13.4%          
Advertising — 0.1%          
Interpublic Group of Cos., Inc. (a)   1,066    30,551 
Omnicom Group, Inc. (a)   558    41,560 
         72,111 
Internet — 10.3%          
Airbnb, Inc. Class A (a) (b)   1,143    156,831 
Alphabet, Inc. Class A (a) (b)   15,982    2,091,405 
Alphabet, Inc. Class C (a) (b)   13,687    1,804,631 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Amazon.com, Inc. (a) (b)   24,530   $3,118,254 
Booking Holdings, Inc. (a) (b)   96    296,059 
CDW Corp. (a)   348    70,212 
eBay, Inc. (a)   1,462    64,460 
Etsy, Inc. (a) (b)   321    20,730 
Expedia Group, Inc. (a) (b)   370    38,136 
F5, Inc. (a) (b)   177    28,522 
Gen Digital, Inc. (a)   1,715    30,321 
Match Group, Inc. (a) (b)   739    28,950 
Meta Platforms, Inc. Class A (a) (b)   5,994    1,799,459 
Netflix, Inc. (a) (b)   1,203    454,253 
Palo Alto Networks, Inc. (a) (b)   816    191,303 
VeriSign, Inc. (a) (b)   242    49,012 
         10,242,538 
Media — 1.2%          
Charter Communications, Inc. Class A (a) (b)   269    118,312 
Comcast Corp. Class A (a)   11,233    498,071 
FactSet Research Systems, Inc. (a)   97    42,414 
Fox Corp. Class A (a)   576    17,971 
Fox Corp. Class B (a)   505    14,585 
News Corp. Class A (a)   573    11,494 
News Corp. Class B (a)   716    14,943 
Paramount Global Class B (a)   1,322    17,054 
Walt Disney Co. (a) (b)   4,929    399,496 
Warner Bros Discovery, Inc. (a) (b)   5,891    63,976 
         1,198,316 
Telecommunications — 1.8%          
Arista Networks, Inc. (a) (b)   672    123,601 
AT&T, Inc. (a)   19,522    293,220 
Cisco Systems, Inc. (a)   11,091    596,252 
Corning, Inc. (a)   2,009    61,214 
Juniper Networks, Inc. (a)   826    22,954 
Motorola Solutions, Inc. (a)   457    124,414 
T-Mobile US, Inc. (a) (b)   1,374    192,429 
Verizon Communications, Inc. (a)   11,331    367,238 
         1,781,322 
         13,294,287 
Consumer, Cyclical — 9.0%          
Airlines — 0.2%          
Alaska Air Group, Inc. (a) (b)   399    14,795 
American Airlines Group, Inc. (a) (b)   1,709    21,893 
Delta Air Lines, Inc. (a)   1,764    65,268 
Southwest Airlines Co. (a)   1,575    42,635 
United Airlines Holdings, Inc. (a) (b)   887    37,520 
         182,111 
Apparel — 0.4%          
NIKE, Inc. Class B (a)   3,313    316,789 
Ralph Lauren Corp. (a)   120    13,931 
Tapestry, Inc. (a)   676    19,435 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
VF Corp. (a)   995   $17,582 
         367,737 
Auto Manufacturers — 2.4%          
Cummins, Inc. (a)   363    82,931 
Ford Motor Co. (a)   10,572    131,304 
General Motors Co. (a)   3,719    122,616 
PACCAR, Inc. (a)   1,420    120,728 
Tesla, Inc. (a) (b)   7,460    1,866,641 
         2,324,220 
Auto Parts & Equipment — 0.1%          
Aptiv PLC (a) (b)   728    71,774 
BorgWarner, Inc. (a)   693    27,976 
         99,750 
Distribution & Wholesale — 0.3%          
Copart, Inc. (a) (b)   2,422    104,364 
Fastenal Co. (a)   1,520    83,053 
LKQ Corp. (a)   671    33,221 
Pool Corp. (a)   102    36,322 
W.W. Grainger, Inc. (a)   118    81,637 
         338,597 
Entertainment — 0.1%          
Caesars Entertainment, Inc. (a) (b)   584    27,069 
Live Nation Entertainment, Inc. (a) (b)   379    31,472 
         58,541 
Home Builders — 0.3%          
DR Horton, Inc. (a)   862    92,639 
Lennar Corp. Class A (a)   660    74,072 
NVR, Inc. (a) (b)   8    47,706 
PulteGroup, Inc. (a)   580    42,949 
         257,366 
Home Furnishing — 0.0%          
Whirlpool Corp. (a)   154    20,590 
Leisure Time — 0.1%          
Carnival Corp. (a) (b)   2,762    37,894 
Norwegian Cruise Line Holdings Ltd. (a) (b)   1,239    20,419 
Royal Caribbean Cruises Ltd. (a) (b)   608    56,021 
         114,334 
Lodging — 0.3%          
Hilton Worldwide Holdings, Inc. (a)   741    111,284 
Las Vegas Sands Corp. (a)   886    40,614 
Marriott International, Inc. Class A (a)   661    129,926 
MGM Resorts International (a)   763    28,048 
Wynn Resorts Ltd. (a)   273    25,228 
         335,100 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Retail — 4.8%          
AutoZone, Inc. (a) (b)   49   $124,460 
Bath & Body Works, Inc. (a)   593    20,043 
Best Buy Co., Inc. (a)   564    39,181 
CarMax, Inc. (a) (b)   410    28,999 
Chipotle Mexican Grill, Inc. (a) (b)   74    135,555 
Costco Wholesale Corp. (a)   1,198    676,822 
Darden Restaurants, Inc. (a)   334    47,836 
Dollar General Corp. (a)   589    62,316 
Dollar Tree, Inc. (a) (b)   579    61,635 
Domino's Pizza, Inc. (a)   103    39,015 
Genuine Parts Co. (a)   410    59,196 
Home Depot, Inc. (a)   2,707    817,947 
Lowe's Cos., Inc. (a)   1,571    326,517 
McDonald's Corp. (a)   1,973    519,767 
O'Reilly Automotive, Inc. (a) (b)   168    152,689 
Ross Stores, Inc. (a)   911    102,897 
Starbucks Corp. (a)   3,087    281,751 
Target Corp. (a)   1,285    142,082 
TJX Cos., Inc. (a)   3,144    279,439 
Tractor Supply Co. (a)   284    57,666 
Ulta Beauty, Inc. (a) (b)   136    54,325 
Walgreens Boots Alliance, Inc. (a)   1,900    42,256 
Walmart, Inc. (a)   3,797    607,254 
Yum! Brands, Inc. (a)   786    98,203 
         4,777,851 
Toys, Games & Hobbies — 0.0%          
Hasbro, Inc. (a)   336    22,223 
         8,898,420 
Consumer, Non-cyclical — 19.6%          
Agriculture — 0.8%          
Altria Group, Inc. (a)   4,886    205,457 
Archer-Daniels-Midland Co. (a)   1,453    109,585 
Bunge Ltd. (a)   392    42,434 
Philip Morris International, Inc. (a)   4,252    393,650 
         751,126 
Beverages — 1.6%          
Brown-Forman Corp. Class B (a)   476    27,460 
Coca-Cola Co. (a)   10,488    587,118 
Constellation Brands, Inc. Class A (a)   455    114,355 
Keurig Dr Pepper, Inc. (a)   2,411    76,115 
Molson Coors Beverage Co. Class B (a)   488    31,032 
Monster Beverage Corp. (a) (b)   1,970    104,312 
PepsiCo, Inc. (a)   3,715    629,470 
         1,569,862 
Biotechnology — 1.5%          
Amgen, Inc. (a)   1,443    387,821 
Bio-Rad Laboratories, Inc. Class A (a) (b)   62    22,224 
Biogen, Inc. (a) (b)   385    98,949 
Corteva, Inc. (a)   2,004    102,525 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Gilead Sciences, Inc. (a)   3,364   $252,098 
Illumina, Inc. (a) (b)   423    58,069 
Incyte Corp. (a) (b)   544    31,427 
Moderna, Inc. (a) (b)   898    92,754 
Regeneron Pharmaceuticals, Inc. (a) (b)   286    235,367 
Vertex Pharmaceuticals, Inc. (a) (b)   703    244,461 
         1,525,695 
Commercial Services — 1.7%          
Automatic Data Processing, Inc. (a)   1,111    267,284 
Cintas Corp. (a)   243    116,886 
CoStar Group, Inc. (a) (b)   1,145    88,039 
Equifax, Inc. (a)   337    61,732 
FleetCor Technologies, Inc. (a) (b)   203    51,834 
Gartner, Inc. (a) (b)   213    73,189 
Global Payments, Inc. (a)   698    80,542 
MarketAxess Holdings, Inc. (a)   111    23,714 
Moody's Corp. (a)   419    132,475 
PayPal Holdings, Inc. (a) (b)   3,002    175,497 
Quanta Services, Inc. (a)   415    77,634 
Robert Half, Inc. (a)   262    19,199 
Rollins, Inc. (a)   571    21,315 
S&P Global, Inc. (a)   875    319,734 
United Rentals, Inc. (a)   186    82,690 
Verisk Analytics, Inc. (a)   398    94,024 
         1,685,788 
Cosmetics & Personal Care — 1.3%          
Colgate-Palmolive Co. (a)   2,281    162,202 
Estee Lauder Cos., Inc. Class A (a)   618    89,332 
Kenvue, Inc. (a)   4,599    92,348 
Procter & Gamble Co. (a)   6,392    932,337 
         1,276,219 
Food — 1.0%          
Campbell Soup Co. (a)   536    22,019 
Conagra Brands, Inc. (a)   1,222    33,507 
General Mills, Inc. (a)   1,562    99,952 
Hershey Co. (a)   412    82,433 
Hormel Foods Corp. (a)   709    26,963 
J. M. Smucker Co. (a)   267    32,817 
Kellogg Co. (a)   720    42,847 
Kraft Heinz Co. (a)   2,309    77,675 
Kroger Co. (a)   1,797    80,416 
Lamb Weston Holdings, Inc. (a)   410    37,909 
McCormick & Co., Inc. (a)   725    54,839 
Mondelez International, Inc. Class A (a)   3,694    256,364 
Sysco Corp. (a)   1,386    91,545 
Tyson Foods, Inc. Class A (a)   771    38,928 
         978,214 
Health Care – Products — 3.4%          
Abbott Laboratories (a)   4,702    455,389 
Align Technology, Inc. (a) (b)   196    59,843 
Baxter International, Inc. (a)   1,340    50,572 
Bio-Techne Corp. (a)   443    30,155 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Boston Scientific Corp. (a) (b)   3,855   $203,544 
Cooper Cos., Inc. (a)   134    42,613 
Danaher Corp. (a)   1,793    444,843 
DENTSPLY SIRONA, Inc. (a)   591    20,189 
Edwards Lifesciences Corp. (a) (b)   1,647    114,104 
GE HealthCare Technologies, Inc. (a) (b)   1,010    68,720 
Hologic, Inc. (a) (b)   657    45,596 
IDEXX Laboratories, Inc. (a) (b)   221    96,637 
Insulet Corp. (a) (b)   193    30,782 
Intuitive Surgical, Inc. (a) (b)   945    276,214 
Medtronic PLC (a)   3,654    286,327 
ResMed, Inc. (a)   393    58,113 
Revvity, Inc. (a)   326    36,088 
Steris PLC (a)   281    61,657 
Stryker Corp. (a)   926    253,048 
Teleflex, Inc. (a)   134    26,319 
Thermo Fisher Scientific, Inc. (a)   1,042    527,429 
Waters Corp. (a) (b)   143    39,212 
West Pharmaceutical Services, Inc. (a)   207    77,668 
Zimmer Biomet Holdings, Inc. (a)   547    61,384 
         3,366,446 
Health Care – Services — 2.3%          
Catalent, Inc. (a) (b)   476    21,672 
Centene Corp. (a) (b)   1,512    104,147 
Charles River Laboratories International, Inc. (a) (b)   154    30,181 
DaVita, Inc. (a) (b)   138    13,045 
Elevance Health, Inc. (a)   638    277,798 
HCA Healthcare, Inc. (a)   532    130,861 
Humana, Inc. (a)   333    162,011 
IQVIA Holdings, Inc. (a) (b)   494    97,195 
Laboratory Corp. of America Holdings (a)   226    45,437 
Molina Healthcare, Inc. (a) (b)   161    52,790 
Quest Diagnostics, Inc. (a)   315    38,386 
UnitedHealth Group, Inc. (a)   2,497    1,258,963 
Universal Health Services, Inc. Class B (a)   182    22,883 
         2,255,369 
Household Products & Wares — 0.2%          
Avery Dennison Corp. (a)   234    42,745 
Church & Dwight Co., Inc. (a)   622    56,994 
Clorox Co. (a)   320    41,939 
Kimberly-Clark Corp. (a)   889    107,435 
         249,113 
Pharmaceuticals — 5.8%          
AbbVie, Inc. (a)   4,777    712,060 
Becton Dickinson & Co. (a)   788    203,722 
Bristol-Myers Squibb Co. (a)   5,664    328,738 
Cardinal Health, Inc. (a)   671    58,256 
Cencora, Inc. (a)   452    81,346 
Cigna Group (a)   807    230,858 
CVS Health Corp. (a)   3,508    244,929 
Dexcom, Inc. (a) (b)   1,044    97,405 
Eli Lilly & Co. (a)   2,152    1,155,904 
Henry Schein, Inc. (a) (b)   327    24,280 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Johnson & Johnson (a)   6,486   $1,010,194 
McKesson Corp. (a)   368    160,025 
Merck & Co., Inc. (a)   6,867    706,958 
Organon & Co. (a)   703    12,204 
Pfizer, Inc. (a)   15,260    506,174 
Viatris, Inc. (a)   3,538    34,885 
Zoetis, Inc. (a)   1,244    216,431 
         5,784,369 
         19,442,201 
Energy — 4.7%          
Energy – Alternate Sources — 0.1%          
Enphase Energy, Inc. (a) (b)   375    45,056 
First Solar, Inc. (a) (b)   267    43,145 
SolarEdge Technologies, Inc. (a) (b)   150    19,426 
         107,627 
Oil & Gas — 3.9%          
APA Corp. (a)   881    36,209 
Chevron Corp. (a)   4,774    804,992 
ConocoPhillips (a)   3,251    389,470 
Coterra Energy, Inc. (a)   1,971    53,315 
Devon Energy Corp. (a)   1,807    86,194 
Diamondback Energy, Inc. (a)   485    75,117 
EOG Resources, Inc. (a)   1,588    201,295 
EQT Corp. (a)   1,017    41,270 
Exxon Mobil Corp. (a)   10,797    1,269,511 
Hess Corp. (a)   773    118,269 
Marathon Oil Corp. (a)   1,807    48,337 
Marathon Petroleum Corp. (a)   1,068    161,631 
Occidental Petroleum Corp. (a)   1,756    113,929 
Phillips 66 (a)   1,187    142,618 
Pioneer Natural Resources Co. (a)   618    141,862 
Valero Energy Corp. (a)   942    133,491 
         3,817,510 
Oil & Gas Services — 0.4%          
Baker Hughes Co. (a)   2,777    98,084 
Halliburton Co. (a)   2,389    96,755 
Schlumberger NV (a)   3,838    223,755 
         418,594 
Pipelines — 0.3%          
Kinder Morgan, Inc. (a)   5,257    87,161 
ONEOK, Inc. (a)   1,211    76,814 
Targa Resources Corp. (a)   556    47,660 
Williams Cos., Inc. (a)   3,352    112,929 
         324,564 
         4,668,295 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Financial — 13.5%          
Banks — 3.7%          
Bank of America Corp. (a)   18,739   $513,074 
Bank of New York Mellon Corp. (a)   1,938    82,656 
Citigroup, Inc. (a)   5,193    213,588 
Citizens Financial Group, Inc. (a)   1,189    31,865 
Comerica, Inc. (a)   326    13,545 
Fifth Third Bancorp (a)   1,799    45,569 
Goldman Sachs Group, Inc. (a)   893    288,948 
Huntington Bancshares, Inc. (a)   3,637    37,825 
JP Morgan Chase & Co. (a)   7,852    1,138,697 
KeyCorp. (a)   2,789    30,010 
M&T Bank Corp. (a)   442    55,891 
Morgan Stanley (a)   3,428    279,965 
Northern Trust Corp. (a)   572    39,742 
PNC Financial Services Group, Inc. (a)   1,061    130,259 
Regions Financial Corp. (a)   2,764    47,541 
State Street Corp. (a)   865    57,920 
Truist Financial Corp. (a)   3,679    105,256 
US Bancorp (a)   4,148    137,133 
Wells Fargo & Co. (a)   9,857    402,757 
Zions Bancorp NA (a)   473    16,503 
         3,668,744 
Diversified Financial Services — 3.5%          
American Express Co. (a)   1,595    237,958 
Ameriprise Financial, Inc. (a)   278    91,651 
BlackRock, Inc. (a)   376    243,080 
Capital One Financial Corp. (a)   982    95,303 
Cboe Global Markets, Inc. (a)   273    42,645 
Charles Schwab Corp. (a)   4,017    220,533 
CME Group, Inc. (a)   1,000    200,220 
Discover Financial Services (a)   652    56,483 
Franklin Resources, Inc. (a)   675    16,591 
Intercontinental Exchange, Inc. (a)   1,537    169,101 
Invesco Ltd. (a)   1,194    17,337 
Mastercard, Inc. Class A (a)   2,264    896,340 
Nasdaq, Inc. (a)   918    44,606 
Raymond James Financial, Inc. (a)   534    53,630 
Synchrony Financial (a)   1,239    37,876 
T. Rowe Price Group, Inc. (a)   619    64,915 
Visa, Inc. Class A (a)   4,327    995,253 
         3,483,522 
Insurance — 3.8%          
Aflac, Inc. (a)   1,465    112,439 
Allstate Corp. (a)   685    76,316 
American International Group, Inc. (a)   1,967    119,200 
Aon PLC Class A (a)   555    179,942 
Arch Capital Group Ltd. (a) (b)   990    78,913 
Arthur J Gallagher & Co. (a)   601    136,986 
Assurant, Inc. (a)   169    24,265 
Berkshire Hathaway, Inc. Class B (a) (b)   4,919    1,723,126 
Brown & Brown, Inc. (a)   588    41,066 
Chubb Ltd. (a)   1,112    231,496 
Cincinnati Financial Corp. (a)   420    42,962 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Everest Group Ltd. (a)   118   $43,857 
Globe Life, Inc. (a)   227    24,682 
Hartford Financial Services Group, Inc. (a)   853    60,486 
Loews Corp. (a)   382    24,184 
Marsh & McLennan Cos., Inc. (a)   1,337    254,431 
MetLife, Inc. (a)   1,752    110,218 
Principal Financial Group, Inc. (a)   604    43,530 
Progressive Corp. (a)   1,581    220,233 
Prudential Financial, Inc. (a)   949    90,051 
Travelers Cos., Inc. (a)   600    97,986 
W. R. Berkley Corp. (a)   603    38,285 
Willis Towers Watson PLC (a)   271    56,628 
         3,831,282 
Private Equity — 0.2%          
Blackstone, Inc. (a)   1,906    204,209 
Real Estate — 0.1%          
CBRE Group, Inc. Class A (a) (b)   805    59,457 
Real Estate Investment Trusts (REITS) — 2.2%          
Alexandria Real Estate Equities, Inc. (a)   456    45,646 
American Tower Corp. (a)   1,259    207,043 
AvalonBay Communities, Inc. (a)   372    63,887 
Boston Properties, Inc. (a)   328    19,509 
Camden Property Trust (a)   260    24,591 
Crown Castle, Inc. (a)   1,215    111,817 
Digital Realty Trust, Inc. (a)   808    97,784 
Equinix, Inc. (a)   252    183,018 
Equity Residential (a)   879    51,606 
Essex Property Trust, Inc. (a)   168    35,631 
Extra Space Storage, Inc. (a)   550    66,869 
Federal Realty Investment Trust (a)   154    13,957 
Healthpeak Properties, Inc. (a)   1,659    30,459 
Host Hotels & Resorts, Inc. (a)   1,947    31,288 
Invitation Homes, Inc. (a)   1,638    51,908 
Iron Mountain, Inc. (a)   833    49,522 
Kimco Realty Corp. (a)   1,802    31,697 
Mid-America Apartment Communities, Inc. (a)   289    37,180 
Prologis, Inc. (a)   2,539    284,901 
Public Storage (a)   415    109,361 
Realty Income Corp. (a)   1,834    91,590 
Regency Centers Corp. (a)   437    25,975 
SBA Communications Corp. (a)   288    57,649 
Simon Property Group, Inc. (a)   885    95,607 
UDR, Inc. (a)   872    31,104 
Ventas, Inc. (a)   1,157    48,744 
VICI Properties, Inc. (a)   2,756    80,200 
Welltower, Inc. (a)   1,396    114,360 
Weyerhaeuser Co. (a)   2,021    61,964 
         2,154,867 
         13,402,081 
Industrial — 7.4%          
Aerospace & Defense — 1.4%          
Boeing Co. (a) (b)   1,528    292,887 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
General Dynamics Corp. (a)   602   $133,024 
Howmet Aerospace, Inc. (a)   1,029    47,591 
L3 Harris Technologies, Inc. (a)   510    88,801 
Lockheed Martin Corp. (a)   617    252,329 
Northrop Grumman Corp. (a)   395    173,875 
RTX Corp. (a)   4,008    288,456 
TransDigm Group, Inc. (a) (b)   137    115,509 
         1,392,472 
Building Materials — 0.5%          
Carrier Global Corp. (a)   2,285    126,132 
Johnson Controls International PLC (a)   1,870    99,503 
Martin Marietta Materials, Inc. (a)   165    67,729 
Masco Corp. (a)   543    29,023 
Mohawk Industries, Inc. (a) (b)   120    10,297 
Trane Technologies PLC (a)   626    127,022 
Vulcan Materials Co. (a)   355    71,717 
         531,423 
Electrical Components & Equipment — 0.3%          
AMETEK, Inc. (a)   645    95,305 
Emerson Electric Co. (a)   1,518    146,593 
Generac Holdings, Inc. (a) (b)   180    19,613 
         261,511 
Electronics — 1.0%          
Agilent Technologies, Inc. (a)   778    86,996 
Allegion PLC (a)   250    26,050 
Amphenol Corp. Class A (a)   1,624    136,400 
Fortive Corp. (a)   970    71,935 
Garmin Ltd. (a)   452    47,550 
Honeywell International, Inc. (a)   1,776    328,098 
Keysight Technologies, Inc. (a) (b)   476    62,980 
Mettler-Toledo International, Inc. (a) (b)   59    65,376 
TE Connectivity Ltd. (a)   843    104,136 
Trimble, Inc. (a) (b)   707    38,079 
         967,600 
Engineering & Construction — 0.0%          
Jacobs Solutions, Inc. (a)   332    45,318 
Environmental Controls — 0.3%          
Pentair PLC (a)   468    30,303 
Republic Services, Inc. (a)   589    83,939 
Waste Management, Inc. (a)   978    149,086 
         263,328 
Hand & Machine Tools — 0.1%          
Snap-on, Inc. (a)   140    35,709 
Stanley Black & Decker, Inc. (a)   423    35,354 
         71,063 
Machinery – Construction & Mining — 0.4%          
Caterpillar, Inc. (a)   1,389    379,197 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Machinery – Diversified — 0.8%          
Deere & Co. (a)   741   $279,639 
Dover Corp. (a)   396    55,246 
IDEX Corp. (a)   203    42,228 
Ingersoll Rand, Inc. (a)   1,021    65,058 
Nordson Corp. (a)   149    33,252 
Otis Worldwide Corp. (a)   1,147    92,115 
Rockwell Automation, Inc. (a)   311    88,906 
Westinghouse Air Brake Technologies Corp. (a)   453    48,140 
Xylem, Inc. (a)   662    60,262 
         764,846 
Miscellaneous - Manufacturing — 1.2%          
3M Co. (a)   1,506    140,992 
A.O. Smith Corp. (a)   389    25,725 
Axon Enterprise, Inc. (a) (b)   199    39,599 
Eaton Corp. PLC (a)   1,087    231,835 
General Electric Co. (a)   2,933    324,243 
Illinois Tool Works, Inc. (a)   733    168,817 
Parker-Hannifin Corp. (a)   345    134,384 
Teledyne Technologies, Inc. (a) (b)   122    49,847 
Textron, Inc. (a)   576    45,009 
         1,160,451 
Packaging & Containers — 0.1%          
Amcor PLC (a)   3,806    34,863 
Ball Corp. (a)   863    42,960 
Packaging Corp. of America (a)   260    39,923 
Sealed Air Corp. (a)   401    13,177 
Westrock Co. (a)   618    22,124 
         153,047 
Shipbuilding — 0.0%          
Huntington Ingalls Industries, Inc. (a)   90    18,412 
Transportation — 1.3%          
C.H. Robinson Worldwide, Inc. (a)   274    23,600 
CSX Corp. (a)   5,619    172,784 
Expeditors International of Washington, Inc. (a)   439    50,323 
FedEx Corp. (a)   632    167,429 
JB Hunt Transport Services, Inc. (a)   212    39,966 
Norfolk Southern Corp. (a)   603    118,749 
Old Dominion Freight Line, Inc. (a)   247    101,058 
Union Pacific Corp. (a)   1,645    334,971 
United Parcel Service, Inc. Class B (a)   1,912    298,023 
         1,306,903 
         7,315,571 
Technology — 26.0%          
Computers — 8.3%          
Accenture PLC Class A (a)   1,702    522,701 
Apple, Inc. (a)   39,714    6,799,434 
Cognizant Technology Solutions Corp. Class A (a)   1,386    93,888 
DXC Technology Co. (a) (b)   704    14,664 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
EPAM Systems, Inc. (a) (b)   150   $38,353 
Fortinet, Inc. (a) (b)   1,741    102,162 
Hewlett Packard Enterprise Co. (a)   3,426    59,510 
HP, Inc. (a)   2,334    59,984 
International Business Machines Corp. (a)   2,504    351,311 
Leidos Holdings, Inc. (a)   415    38,246 
NetApp, Inc. (a)   564    42,796 
Seagate Technology Holdings PLC (a)   510    33,635 
Western Digital Corp. (a) (b)   903    41,204 
         8,197,888 
Office & Business Equipment — 0.0%          
Zebra Technologies Corp. Class A (a) (b)   140    33,114 
Semiconductors — 7.1%          
Advanced Micro Devices, Inc. (a) (b)   4,354    447,678 
Analog Devices, Inc. (a)   1,351    236,547 
Applied Materials, Inc. (a)   2,266    313,728 
Broadcom, Inc. (a)   1,115    926,097 
Intel Corp. (a)   11,278    400,933 
KLA Corp. (a)   366    167,870 
Lam Research Corp. (a)   368    230,651 
Microchip Technology, Inc. (a)   1,506    117,543 
Micron Technology, Inc. (a)   3,004    204,362 
Monolithic Power Systems, Inc. (a)   125    57,750 
NVIDIA Corp. (a)   6,676    2,903,993 
NXP Semiconductors NV (a)   690    137,945 
ON Semiconductor Corp. (a) (b)   1,193    110,889 
Qorvo, Inc. (a) (b)   243    23,199 
QUALCOMM, Inc. (a)   3,004    333,624 
Skyworks Solutions, Inc. (a)   462    45,549 
Teradyne, Inc. (a)   410    41,189 
Texas Instruments, Inc. (a)   2,448    389,256 
         7,088,803 
Software — 10.6%          
Activision Blizzard, Inc. (a)   1,948    182,391 
Adobe, Inc. (a) (b)   1,229    626,667 
Akamai Technologies, Inc. (a) (b)   423    45,066 
ANSYS, Inc. (a) (b)   227    67,544 
Autodesk, Inc. (a) (b)   576    119,180 
Broadridge Financial Solutions, Inc. (a)   309    55,326 
Cadence Design Systems, Inc. (a) (b)   742    173,851 
Ceridian HCM Holding, Inc. (a) (b)   388    26,326 
Electronic Arts, Inc. (a)   645    77,658 
Fair Isaac Corp. (a) (b)   70    60,797 
Fidelity National Information Services, Inc. (a)   1,630    90,090 
Fiserv, Inc. (a) (b)   1,617    182,656 
Intuit, Inc. (a)   757    386,782 
Jack Henry & Associates, Inc. (a)   206    31,135 
Microsoft Corp. (a)   20,074    6,338,366 
MSCI, Inc. (a)   220    112,878 
Oracle Corp. (a)   4,242    449,313 
Paychex, Inc. (a)   873    100,683 
Paycom Software, Inc. (a)   134    34,742 
PTC, Inc. (a) (b)   318    45,054 
Roper Technologies, Inc. (a)   285    138,020 

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Salesforce, Inc. (a) (b)   2,648   $536,961 
ServiceNow, Inc. (a) (b)   559    312,459 
Synopsys, Inc. (a) (b)   408    187,260 
Take-Two Interactive Software, Inc. (a) (b)   420    58,964 
Tyler Technologies, Inc. (a) (b)   107    41,317 
         10,481,486 
         25,801,291 
Utilities — 2.3%          
Electric — 2.1%          
AES Corp. (a)   1,719    26,129 
Alliant Energy Corp. (a)   726    35,175 
Ameren Corp. (a)   766    57,320 
American Electric Power Co., Inc. (a)   1,392    104,706 
CenterPoint Energy, Inc. (a)   1,884    50,585 
CMS Energy Corp. (a)   711    37,761 
Consolidated Edison, Inc. (a)   986    84,333 
Constellation Energy Corp. (a)   869    94,791 
Dominion Energy, Inc. (a)   2,211    98,765 
DTE Energy Co. (a)   526    52,221 
Duke Energy Corp. (a)   2,084    183,934 
Edison International (a)   986    62,404 
Entergy Corp. (a)   614    56,795 
Evergy, Inc. (a)   586    29,710 
Eversource Energy (a)   969    56,347 
Exelon Corp. (a)   2,640    99,766 
FirstEnergy Corp. (a)   1,452    49,629 
NextEra Energy, Inc. (a)   5,556    318,303 
NRG Energy, Inc. (a)   649    24,999 
PG&E Corp. (a) (b)   5,534    89,263 
Pinnacle West Capital Corp. (a)   241    17,757 
PPL Corp. (a)   1,758    41,418 
Public Service Enterprise Group, Inc. (a)   1,404    79,902 
Sempra (a)   1,676    114,018 
Southern Co. (a)   2,909    188,271 
WEC Energy Group, Inc. (a)   850    68,468 
Xcel Energy, Inc. (a)   1,549    88,634 
         2,211,404 
Gas — 0.1%          
Atmos Energy Corp. (a)   391    41,419 
NiSource, Inc. (a)   1,069    26,383 
         67,802 
Water — 0.1%          
American Water Works Co., Inc. (a)   503    62,286 
         2,341,492 
           
TOTAL COMMON STOCK
(Cost $61,788,608)
        97,098,492 
           
TOTAL EQUITIES
(Cost $61,788,608)
        97,098,492 
           

 

 

 

 

MML Managed Volatility Fund —  Portfolio of Investments (Continued)

 

   Principal
Amount
   Value 
BONDS & NOTES — 0.0%          
           
CORPORATE DEBT — 0.0%          
Forest Products & Paper — 0.0%          
Sino Forest Corp.          
5.000% 8/01/49 (c) (d)  $359,000   $ 
           
TOTAL CORPORATE DEBT
(Cost $0)
         
           
TOTAL BONDS & NOTES
(Cost $0)
         
           
TOTAL PURCHASED OPTIONS(#) — 1.4%
(Cost $1,096,132)
        1,350,944 
           
RIGHTS — 0.0%          
Consumer, Non-cyclical — 0.0%          
Health Care – Products — 0.0%          
Abiomed, Inc., CVR (b) (c) (d)   136     
           
TOTAL RIGHTS
(Cost $139)
         
           
TOTAL LONG-TERM INVESTMENTS
(Cost $62,884,879)
        98,449,436 
           
SHORT-TERM INVESTMENTS — 1.6%          
Repurchase Agreement — 1.6%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (e)  1,612,661   1,612,661 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,612,661)
        1,612,661 
           
TOTAL INVESTMENTS — 100.8%
(Cost $64,497,540) (f)
        100,062,097 
           
Other Assets/(Liabilities) — (0.8)%        (818,279) 
           
NET ASSETS — 100.0%       $99,243,818 

 

Abbreviation Legend

CVR Contingent Value Rights

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) All or a portion of this security is pledged/held as collateral for open derivatives.
(b) Non-income producing security.
(c) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2023, these securities amounted to a value of $0 or 0.00% of net assets.
(d) Investment is valued using significant unobservable inputs.
(e) Maturity value of $1,612,876. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $1,644,981.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

(#) Exchange-Traded Options Purchased
Description  Expiration Date  Exercise Price   No. of Contracts   Notional
Amount
  Value   Premiums Paid (Received)   Unrealized Appreciation (Depreciation) 
Put       
S&P 500 Index  11/17/23   3,925.00    33   USD   12,952,500   $59,730   $141,488   $(81,758)
S&P 500 Index  11/17/23   4,050.00    33   USD   13,365,000    96,690    119,477    (22,787)
S&P 500 Index  12/15/23   4,100.00    33   USD   13,530,000    182,820    138,550    44,270
S&P 500 Index  12/15/23   4,150.00    30   USD   12,450,000    201,660    116,815    84,845
S&P 500 Index  1/19/24   4,150.00    32   USD   13,280,000    265,600    150,160    115,440
S&P 500 Index  2/16/24   4,050.00    32   USD   12,960,000    248,896    243,440    5,456
S&P 500 Index  3/15/24   4,050.00    33   USD   13,365,000    295,548    186,202    109,346 
                        $1,350,944   $1,096,132   $254,812

 

Exchange-Traded Options Written
Description  Expiration Date  Exercise Price   No. of Contracts   Notional
Amount
  Value   Premiums Paid (Received)   Unrealized Appreciation (Depreciation) 
Call       
S&P 500 Index  10/20/23   4,400.00    25   USD   11,000,000   $(48,900)   $(261,688)   $212,788
S&P 500 Index  10/20/23   4,550.00    25   USD   11,375,000    (2,375)    (108,330)    105,955
S&P 500 Index  10/20/23   4,650.00    25   USD   11,625,000    (375)    (239,938)    239,563
S&P 500 Index  10/20/23   4,700.00    25   USD   11,750,000    (375)    (158,715)    158,340
S&P 500 Index  10/31/23   4,350.00    25   USD   10,875,000    (133,750)    (163,563)    29,813
S&P 500 Index  10/31/23   4,400.00    26   USD   11,440,000    (83,980)    (183,495)    99,515
S&P 500 Index  11/17/23   4,400.00    25   USD   11,000,000    (128,750)    (197,563)    68,813
S&P 500 Index  11/17/23   4,500.00    25   USD   11,250,000    (54,075)    (219,688)    165,613
S&P 500 Index  11/30/23   4,400.00    25   USD   11,000,000    (163,600)    (187,560)    23,960 
                        $(616,180)   $(1,720,540)   $1,104,360

 

Currency Legend

USD U.S. Dollar

 

 

 

MML Mid Cap Growth Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 97.8%          
           
COMMON STOCK — 97.5%          
Basic Materials — 0.5%          
Chemicals — 0.5%          
RPM International, Inc.   15,600   $1,479,036 
Communications — 5.1%          
Advertising — 1.5%          
Trade Desk, Inc. Class A (a)   60,300    4,712,445 
Internet — 3.0%          
CDW Corp.   19,884    4,011,796 
Etsy, Inc. (a)   20,357    1,314,655 
Maplebear, Inc. (a)   3,692    109,616 
Maplebear, Inc., Lockup Shares (Acquired 11/19/21, Cost $624,541) (a) (b) (c)   5,164    153,319 
Match Group, Inc. (a)   23,395    916,499 
Spotify Technology SA (a)   18,500    2,860,840 
         9,366,725 
Media — 0.6%          
Liberty Media Corp-Liberty Formula One Class C (a)   24,860    1,548,778 
New York Times Co. Class A   14,200    585,040 
         2,133,818 
         16,212,988 
Consumer, Cyclical — 12.0%          
Airlines — 0.6%          
Southwest Airlines Co.   68,800    1,862,416 
Auto Parts & Equipment — 0.1%          
Mobileye Global, Inc. Class A (a) (d)   4,416    183,485 
Entertainment — 0.3%          
Caesars Entertainment, Inc. (a)   12,905    598,147 
DraftKings, Inc. Class A (a)   14,892    438,420 
Liberty Media Corp-Liberty Live Class C (a)   1,232    39,547 
         1,076,114 
Lodging — 1.9%          
Hilton Worldwide Holdings, Inc.   25,600    3,844,608 
MGM Resorts International   58,432    2,147,960 
         5,992,568 

 

 

 

 

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

 

   Number of
Shares
   Value 
Retail — 9.1%          
Bath & Body Works, Inc.   48,200   $1,629,160 
Burlington Stores, Inc. (a)   20,500    2,773,650 
Casey's General Stores, Inc.   8,400    2,280,768 
Chipotle Mexican Grill, Inc. (a)   500    915,915 
Dollar General Corp.   2,300    243,340 
Dollar Tree, Inc. (a)   22,529    2,398,212 
Domino's Pizza, Inc.   9,002    3,409,868 
Five Below, Inc. (a)   10,400    1,673,360 
Freshpet, Inc. (a)   42,533    2,802,074 
Lululemon Athletica, Inc. (a)   8,284    3,194,393 
O'Reilly Automotive, Inc. (a)   800    727,088 
Ross Stores, Inc.   21,100    2,383,245 
Tractor Supply Co.   3,385    687,324 
Ulta Beauty, Inc. (a)   2,100    838,845 
Yum! Brands, Inc.   20,007    2,499,675 
         28,456,917 
         37,571,500 
Consumer, Non-cyclical — 31.3%          
Beverages — 0.5%          
Boston Beer Co., Inc. Class A (a)   2,094    815,676 
Celsius Holdings, Inc. (a)   4,665    800,514 
         1,616,190 
Biotechnology — 4.2%          
Alnylam Pharmaceuticals, Inc. (a)   13,900    2,461,690 
Apellis Pharmaceuticals, Inc. (a) (d)   11,482    436,775 
Argenx SE ADR (a)   2,523    1,240,383 
Biogen, Inc. (a)   7,500    1,927,575 
CRISPR Therapeutics AG (a) (d)   10,328    468,788 
Illumina, Inc. (a)   13,509    1,854,516 
Ionis Pharmaceuticals, Inc. (a)   40,400    1,832,544 
Karuna Therapeutics, Inc. (a)   5,204    879,944 
Roivant Sciences Ltd. (a)   43,894    512,682 
Sarepta Therapeutics, Inc. (a)   7,520    911,574 
Seagen, Inc. (a)   2,300    487,945 
         13,014,416 
Commercial Services — 8.7%          
Bright Horizons Family Solutions, Inc. (a)   11,300    920,498 
CoStar Group, Inc. (a)   56,915    4,376,194 
Equifax, Inc.   15,900    2,912,562 
FleetCor Technologies, Inc. (a)   10,800    2,757,672 
Gartner, Inc. (a)   12,411    4,264,544 
MarketAxess Holdings, Inc.   4,700    1,004,108 
Paylocity Holding Corp. (a)   9,900    1,798,830 
TransUnion   74,855    5,373,841 
United Rentals, Inc.   4,400    1,956,108 
Verisk Analytics, Inc.   8,600    2,031,664 
         27,396,021 

 

 

 

 

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

 

   Number of
Shares
   Value 
Cosmetics & Personal Care — 0.4%          
Kenvue, Inc.   67,162   $1,348,613 
Food — 0.3%          
TreeHouse Foods, Inc. (a)   23,407    1,020,077 
Health Care – Products — 11.2%          
Alcon, Inc.   26,000    2,003,560 
Align Technology, Inc. (a)   7,424    2,266,696 
Avantor, Inc. (a)   149,500    3,151,460 
Bruker Corp.   45,558    2,838,263 
Cooper Cos., Inc.   6,900    2,194,269 
DENTSPLY SIRONA, Inc.   21,200    724,192 
Enovis Corp. (a)   27,578    1,454,188 
Exact Sciences Corp. (a)   45,087    3,075,835 
Hologic, Inc. (a)   88,800    6,162,720 
ICU Medical, Inc. (a) (d)   6,300    749,763 
Omnicell, Inc. (a)   18,128    816,485 
Quidelortho Corp. (a)   17,733    1,295,218 
Repligen Corp. (a)   10,412    1,655,612 
Teleflex, Inc.   21,440    4,211,031 
West Pharmaceutical Services, Inc.   6,335    2,376,955 
         34,976,247 
Health Care – Services — 4.5%          
Acadia Healthcare Co., Inc. (a)   33,300    2,341,323 
agilon health, Inc. (a) (d)   60,984    1,083,076 
Catalent, Inc. (a)   49,248    2,242,261 
ICON PLC (a)   14,802    3,644,993 
Molina Healthcare, Inc. (a)   14,424    4,729,485 
         14,041,138 
Household Products & Wares — 1.2%          
Avery Dennison Corp.   16,600    3,032,322 
Reynolds Consumer Products, Inc.   33,900    868,857 
         3,901,179 
Pharmaceuticals — 0.3%          
Ascendis Pharma AS ADR (a)   9,800    917,672 
         98,231,553 
Energy — 4.1%          
Energy – Alternate Sources — 0.1%          
Shoals Technologies Group, Inc. Class A (a)   21,600    394,200 
Oil & Gas — 1.8%          
Coterra Energy, Inc.   47,200    1,276,760 
EQT Corp.   47,600    1,931,608 
Pioneer Natural Resources Co.   10,015    2,298,943 
Range Resources Corp.   8,300    269,003 
         5,776,314 
Oil & Gas Services — 0.2%          
TechnipFMC PLC   31,208    634,771 

 

 

 

 

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

 

   Number of
Shares
   Value 
Pipelines — 2.0%          
Cheniere Energy, Inc.   37,185   $6,171,222 
         12,976,507 
Financial — 6.3%          
Diversified Financial Services — 3.1%          
Cboe Global Markets, Inc.   2,600    406,146 
Hamilton Lane, Inc. Class A   32,520    2,941,109 
Intercontinental Exchange, Inc.   22,500    2,475,450 
Raymond James Financial, Inc.   14,600    1,466,278 
Tradeweb Markets, Inc. Class A   32,300    2,590,460 
         9,879,443 
Insurance — 1.3%          
Assurant, Inc.   18,200    2,613,156 
Axis Capital Holdings Ltd.   17,100    963,927 
Kemper Corp.   4,700    197,541 
Markel Group, Inc. (a)   250    368,122 
         4,142,746 
Private Equity — 1.9%          
Ares Management Corp. Class A   24,565    2,527,002 
KKR & Co., Inc.   53,700    3,307,920 
         5,834,922 
         19,857,111 
Industrial — 17.2%          
Aerospace & Defense — 0.5%          
Hexcel Corp.   23,812    1,551,114 
Building Materials — 1.6%          
Builders FirstSource, Inc. (a)   19,746    2,458,179 
Martin Marietta Materials, Inc.   6,560    2,692,749 
         5,150,928 
Electrical Components & Equipment — 0.1%          
Littelfuse, Inc.   1,800    445,176 
Electronics — 4.7%          
Agilent Technologies, Inc.   55,403    6,195,164 
Amphenol Corp. Class A   22,600    1,898,174 
Fortive Corp.   49,400    3,663,504 
Keysight Technologies, Inc. (a)   21,400    2,831,434 
         14,588,276 
Environmental Controls — 1.0%          
Clean Harbors, Inc. (a)   14,417    2,412,829 
Waste Connections, Inc.   6,000    805,800 
         3,218,629 

 

 

 

 

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

 

   Number of
Shares
   Value 
Machinery – Construction & Mining — 1.6%          
BWX Technologies, Inc.   64,639   $4,846,632 
Machinery – Diversified — 2.7%          
Cognex Corp.   21,100    895,484 
Esab Corp.   25,983    1,824,526 
IDEX Corp.   6,600    1,372,932 
Ingersoll Rand, Inc.   70,900    4,517,748 
         8,610,690 
Miscellaneous - Manufacturing — 2.1%          
Axon Enterprise, Inc. (a)   8,317    1,655,000 
Textron, Inc.   62,093    4,851,947 
         6,506,947 
Packaging & Containers — 1.6%          
Ball Corp.   73,047    3,636,280 
Sealed Air Corp.   40,000    1,314,400 
         4,950,680 
Transportation — 1.3%          
JB Hunt Transport Services, Inc.   21,700    4,090,884 
         53,959,956 
Technology — 21.0%          
Computers — 1.7%          
Crowdstrike Holdings, Inc. Class A (a)   20,910    3,499,916 
Fortinet, Inc. (a)   28,000    1,643,040 
         5,142,956 
Semiconductors — 6.6%          
KLA Corp.   8,688    3,984,838 
Lattice Semiconductor Corp. (a)   17,500    1,503,775 
Marvell Technology, Inc.   107,307    5,808,528 
Microchip Technology, Inc.   93,000    7,258,650 
NXP Semiconductors NV   4,200    839,664 
ON Semiconductor Corp. (a)   15,409    1,432,266 
         20,827,721 
Software — 12.7%          
Aspen Technology, Inc. (a)   11,905    2,431,715 
Atlassian Corp. Class A (a)   5,200    1,047,852 
Bill Holdings, Inc. (a) (d)   10,728    1,164,739 
Broadridge Financial Solutions, Inc.   11,472    2,054,062 
Cadence Design Systems, Inc. (a)   8,334    1,952,656 
CCC Intelligent Solutions Holdings, Inc. (a)   131,491    1,755,405 
Ceridian HCM Holding, Inc. (a)   39,505    2,680,414 
Clear Secure, Inc. Class A   14,693    279,755 
Confluent, Inc. Class A (a)   8,900    263,529 
Electronic Arts, Inc.   24,154    2,908,142 
Fair Isaac Corp. (a)   2,800    2,431,884 
HashiCorp, Inc. Class A (a)   4,500    102,735 
Klaviyo, Inc. Class A (a) (d)   4,247    146,521 

 

 

 

 

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

 

   Number of
Shares
   Value 
MongoDB, Inc. (a)   6,800   $2,351,848 
MSCI, Inc.   6,183    3,172,374 
PTC, Inc. (a)   21,575    3,056,746 
Roper Technologies, Inc.   4,600    2,227,688 
Synopsys, Inc. (a)   2,282    1,047,369 
Tyler Technologies, Inc. (a)   1,700    656,438 
Veeva Systems, Inc. Class A (a)   31,188    6,345,199 
ZoomInfo Technologies, Inc. (a)   107,722    1,766,640 
         39,843,711 
         65,814,388 
           
TOTAL COMMON STOCK
(Cost $262,288,743)
        306,103,039 
           
PREFERRED STOCK — 0.3%          
Consumer, Cyclical — 0.0%          
Auto Manufacturers — 0.0%          
Nuro, Inc., Series D (Acquired 10/29/21, Cost $159,220) (a) (b) (c) (e)   7,638    47,356 
Consumer, Non-cyclical — 0.1%          
Commercial Services — 0.1%          
Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $200,090) (a) (b) (c) (e)   4,221    201,493 
Health Care – Services — 0.0%          
Caris Life Sciences, Inc., Series D (Acquired 5/11/21, Cost $271,366) (a) (b) (c) (e)   33,502    179,236 
         380,729 
Industrial — 0.1%          
Electrical Components & Equipment — 0.1%          
Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $407,982) (a) (b) (c) (e)   9,885    200,468 
Technology — 0.1%          
Software — 0.1%          
Databricks, Inc., Series H (Acquired 8/31/21, Cost $185,327) (a) (b) (c) (e)   2,522    185,367 
           
TOTAL PREFERRED STOCK
(Cost $1,223,984)
        813,920 
           
TOTAL EQUITIES
(Cost $263,512,727)
        306,916,959 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $263,512,727)
        306,916,959 
           
SHORT-TERM INVESTMENTS — 2.6%          
Investment of Cash Collateral from Securities Loaned — 0.2%          
State Street Navigator Securities Lending Government Money Market Portfolio (f)   629,982    629,982 
Mutual Fund — 0.0%          
T. Rowe Price Treasury Reserve Fund   107    107 

 

 

 

 

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

 

   Principal
Amount
   Value 
Repurchase Agreement — 2.4%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (g)  $7,594,441   $7,594,441 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $8,224,530)
        8,224,530 
           
TOTAL INVESTMENTS — 100.4%
(Cost $271,737,257) (h)
        315,141,489 
           
Other Assets/(Liabilities) — (0.4)%        (1,266,617) 
           
NET ASSETS — 100.0%       $313,874,872 

 

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) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2023, these securities amounted to a value of $967,239 or 0.31% of net assets.
(c) Restricted security. Certain securities are restricted to resale. At September 30, 2023, these securities amounted to a value of $967,239 or 0.31% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.
(d) Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2023, was $4,026,992 or 1.28% of net assets. The Fund received $3,487,359 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(e) Investment is valued using significant unobservable inputs.
(f) Represents investment of security lending cash collateral. (Note 2).
(g) Maturity value of $7,595,454. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 0.500%, maturity dates ranging from 1/31/26 - 2/28/26, and an aggregate market value, including accrued interest, of $7,746,402.
(h) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Mid Cap Value Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 96.4%          
           
COMMON STOCK — 95.7%          
Basic Materials — 1.3%          
Chemicals — 1.3%          
Akzo Nobel NV   44,174   $3,187,796 
Communications — 5.8%          
Advertising — 1.5%          
Interpublic Group of Cos., Inc.   83,007    2,378,980 
Omnicom Group, Inc.   18,439    1,373,337 
         3,752,317 
Internet — 1.2%          
F5, Inc. (a)   19,302    3,110,324 
Media — 1.2%          
Fox Corp. Class B   100,566    2,904,346 
Telecommunications — 1.9%          
BCE, Inc. (b)   45,875    1,751,238 
Corning, Inc.   33,740    1,028,058 
Juniper Networks, Inc.   72,761    2,022,028 
         4,801,324 
         14,568,311 
Consumer, Cyclical — 9.3%          
Airlines — 1.4%          
Southwest Airlines Co.   129,540    3,506,648 
Auto Manufacturers — 0.6%          
Cummins, Inc.   6,875    1,570,662 
Auto Parts & Equipment — 2.5%          
Aptiv PLC (a)   13,189    1,300,303 
BorgWarner, Inc.   71,191    2,873,981 
Cie Generale des Etablissements Michelin SCA   68,764    2,107,603 
         6,281,887 
Distribution & Wholesale — 1.0%          
Bunzl PLC   72,009    2,555,789 
Retail — 3.8%          
Beacon Roofing Supply, Inc. (a)   29,799    2,299,589 
Dollar Tree, Inc. (a)   34,295    3,650,703 

 

 

 

 

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

 

   Number of
Shares
   Value 
MSC Industrial Direct Co., Inc. Class A   36,863   $3,618,103 
         9,568,395 
         23,483,381 
Consumer, Non-cyclical — 21.6%          
Cosmetics & Personal Care — 0.6%          
Kenvue, Inc.   71,468    1,435,077 
Food — 5.2%          
Conagra Brands, Inc.   212,514    5,827,134 
General Mills, Inc.   19,797    1,266,810 
J. M. Smucker Co.   10,394    1,277,527 
Koninklijke Ahold Delhaize NV   156,842    4,729,273 
         13,100,744 
Health Care – Products — 5.1%          
DENTSPLY SIRONA, Inc.   43,270    1,478,103 
Embecta Corp.   44,134    664,217 
Envista Holdings Corp. (a)   66,991    1,867,709 
Hologic, Inc. (a)   18,837    1,307,288 
Smith & Nephew PLC ADR Sponsored ADR   47,347    1,172,785 
Zimmer Biomet Holdings, Inc.   57,662    6,470,830 
         12,960,932 
Health Care – Services — 5.2%          
Centene Corp. (a)   29,306    2,018,597 
Laboratory Corp. of America Holdings   15,601    3,136,581 
Quest Diagnostics, Inc.   35,796    4,362,101 
Universal Health Services, Inc. Class B   28,806    3,621,778 
         13,139,057 
Household Products & Wares — 1.6%          
Kimberly-Clark Corp.   33,329    4,027,810 
Pharmaceuticals — 3.9%          
Cardinal Health, Inc.   26,866    2,332,506 
Cencora, Inc.   11,673    2,100,790 
Henry Schein, Inc. (a)   71,778    5,329,516 
         9,762,812 
         54,426,432 
Energy — 5.0%          
Oil & Gas — 2.3%          
Devon Energy Corp.   11,826    564,100 
Diamondback Energy, Inc.   11,652    1,804,662 
EQT Corp.   33,458    1,357,726 
Occidental Petroleum Corp.   33,762    2,190,478 
         5,916,966 
Oil & Gas Services — 0.8%          
Baker Hughes Co.   56,500    1,995,580 

 

 

 

 

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

 

   Number of
Shares
   Value 
Pipelines — 1.9%          
Enterprise Products Partners LP (c)   171,272   $4,687,715 
         12,600,261 
Financial — 24.4%          
Banks — 7.9%          
Bank of New York Mellon Corp.   133,821    5,707,466 
First Hawaiian, Inc.   111,406    2,010,878 
Northern Trust Corp.   86,390    6,002,377 
Prosperity Bancshares, Inc.   16,899    922,348 
Truist Financial Corp.   102,679    2,937,646 
US Bancorp   37,480    1,239,089 
Westamerica BanCorp   22,401    968,843 
         19,788,647 
Diversified Financial Services — 1.4%          
T. Rowe Price Group, Inc.   33,854    3,550,269 
Insurance — 7.6%          
Aflac, Inc.   32,604    2,502,357 
Allstate Corp.   55,608    6,195,287 
Hanover Insurance Group, Inc.   19,398    2,152,790 
Reinsurance Group of America, Inc.   28,622    4,155,628 
Willis Towers Watson PLC   20,452    4,273,650 
         19,279,712 
Real Estate Investment Trusts (REITS) — 7.3%          
Essex Property Trust, Inc.   13,838    2,934,902 
Healthpeak Properties, Inc.   165,607    3,040,545 
Public Storage   10,156    2,676,309 
Realty Income Corp.   71,772    3,584,294 
Regency Centers Corp.   55,239    3,283,406 
VICI Properties, Inc.   51,254    1,491,491 
WP Carey, Inc.   23,417    1,266,391 
         18,277,338 
Savings & Loans — 0.2%          
Capitol Federal Financial, Inc.   125,592    599,074 
         61,495,040 
Industrial — 15.2%          
Aerospace & Defense — 0.7%          
General Dynamics Corp.   7,901    1,745,884 
Building Materials — 1.0%          
Cie de Saint-Gobain SA   41,486    2,485,365 
Electrical Components & Equipment — 1.6%          
Emerson Electric Co.   42,070    4,062,700 
Electronics — 1.4%          
nVent Electric PLC   17,591    932,147 

 

 

 

 

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

 

   Number of
Shares
   Value 
TE Connectivity Ltd.   20,637   $2,549,289 
         3,481,436 
Engineering & Construction — 1.3%          
Vinci SA   29,304    3,244,150 
Environmental Controls — 0.5%          
Republic Services, Inc.   8,843    1,260,216 
Machinery – Construction & Mining — 1.3%          
Oshkosh Corp.   35,943    3,430,041 
Machinery – Diversified — 0.4%          
IMI PLC   51,234    974,433 
Packaging & Containers — 3.6%          
Amcor PLC   345,963    3,169,021 
Packaging Corp. of America   28,772    4,417,940 
Sonoco Products Co.   30,185    1,640,555 
         9,227,516 
Shipbuilding — 1.4%          
Huntington Ingalls Industries, Inc.   16,838    3,444,718 
Transportation — 2.0%          
Heartland Express, Inc.   122,869    1,804,946 
Norfolk Southern Corp.   16,763    3,301,137 
         5,106,083 
         38,462,542 
Technology — 3.0%          
Computers — 2.2%          
Amdocs Ltd.   38,779    3,276,438 
HP, Inc.   89,237    2,293,391 
         5,569,829 
Semiconductors — 0.3%          
Teradyne, Inc.   7,306    733,961 
Software — 0.5%          
Electronic Arts, Inc.   10,723    1,291,049 
         7,594,839 
Utilities — 10.1%          
Electric — 8.1%          
CMS Energy Corp.   34,724    1,844,192 
Duke Energy Corp.   36,041    3,180,979 
Edison International   50,055    3,167,981 
Evergy, Inc.   49,065    2,487,595 
Eversource Energy   32,167    1,870,511 
Northwestern Energy Group, Inc.   80,391    3,863,591 
Pinnacle West Capital Corp.   28,441    2,095,533 

 

 

 

 

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

 

   Number of
Shares
   Value 
WEC Energy Group, Inc.   25,096   $2,021,483 
         20,531,865 
Gas — 2.0%          
Atmos Energy Corp.   7,296    772,865 
Spire, Inc.   75,811    4,289,387 
         5,062,252 
         25,594,117 
           
TOTAL COMMON STOCK
(Cost $266,009,102)
        241,412,719 
           
PREFERRED STOCK — 0.7%          
Consumer, Non-cyclical — 0.7%          
Household Products & Wares — 0.7%          
Henkel AG & Co. KGaA 2.753%   25,475    1,818,211 
           
TOTAL PREFERRED STOCK
(Cost $1,687,653)
        1,818,211 
           
TOTAL EQUITIES
(Cost $267,696,755)
        243,230,930 
           
MUTUAL FUNDS — 2.0%          
Diversified Financial Services — 2.0%          
iShares Russell Mid-Cap Value ETF (b)   48,305    5,040,144 
           
TOTAL MUTUAL FUNDS
(Cost $5,365,954)
        5,040,144 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $273,062,709)
        248,271,074 
           
SHORT-TERM INVESTMENTS — 2.2%          
Investment of Cash Collateral from Securities Loaned — 0.2%          
State Street Navigator Securities Lending Government Money Market Portfolio (d)   341,972    341,972 
           
   Principal
Amount
    
Repurchase Agreement — 2.0%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (e)  $5,104,418   5,104,418 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,446,390)
        5,446,390 

 

 

 

 

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

 

   Principal
Amount
   Value 
TOTAL INVESTMENTS — 100.6%
(Cost $278,509,099) (f)
       $253,717,464 
           
Other Assets/(Liabilities) — (0.6)%        (1,546,747) 
           
NET ASSETS — 100.0%       $252,170,717 

 

Abbreviation Legend

ADR American Depositary Receipt
ETF Exchange-Traded Fund

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.
(b) Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2023, was $6,715,625 or 2.66% of net assets. The Fund received $6,650,060 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(c) Security is a Master Limited Partnership.
(d) Represents investment of security lending cash collateral. (Note 2).
(e) Maturity value of $5,105,099. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $5,206,543.
(f) See Note 3 for aggregate cost for federal tax purposes.

 

Forward contracts
Counterparty  Settlement Date  Currency Purchased  Currency Sold  Unrealized Appreciation (Depreciation) 
Bank of America N.A.  12/22/23  USD  5,066,600   EUR  4,766,577   $8,001 
Goldman Sachs & Co.  12/22/23  CAD  64,730   USD  48,003    (285) 
Goldman Sachs & Co.  12/22/23  USD  3,937,577   GBP  3,222,767    3,240 
Goldman Sachs & Co.  12/22/23  USD  1,554,140   CAD  2,095,524    9,347 
JP Morgan Chase Bank N.A.  12/22/23  USD  5,067,515   EUR  4,766,577    8,916 
Morgan Stanley & Co. LLC  12/22/23  USD  5,068,530   EUR  4,766,577    9,931
                    $39,150

 

Currency Legend

CAD Canadian Dollar
EUR Euro
GBP British Pound
USD U.S. Dollar

 

 

 

MML Small Cap Growth Equity Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.4%          
           
COMMON STOCK — 99.4%          
Basic Materials — 3.2%          
Chemicals — 3.2%          
Cabot Corp.   31,831   $2,204,933 
Livent Corp. (a) (b)   69,712    1,283,398 
Methanex Corp.   17,988    810,360 
         4,298,691 
Communications — 5.7%          
Internet — 3.3%          
Cargurus, Inc. (a)   42,238    740,010 
Criteo SA Sponsored ADR (a)   22,290    650,868 
ePlus, Inc. (a)   6,347    403,162 
Eventbrite, Inc. Class A (a)   88,769    875,262 
Perficient, Inc. (a)   10,685    618,234 
Squarespace, Inc. Class A (a)   19,262    558,020 
Ziff Davis, Inc. (a)   10,812    688,616 
         4,534,172 
Media — 0.7%          
New York Times Co. Class A   21,701    894,081 
Telecommunications — 1.7%          
Calix, Inc. (a)   36,828    1,688,196 
Viavi Solutions, Inc. (a)   75,224    687,547 
         2,375,743 
         7,803,996 
Consumer, Cyclical — 11.4%          
Apparel — 1.6%          
Carter's, Inc.   8,119    561,429 
Crocs, Inc. (a)   9,850    869,065 
Steven Madden Ltd. (b)   22,744    722,577 
         2,153,071 
Auto Parts & Equipment — 0.5%          
Visteon Corp. (a)   5,200    717,964 
Distribution & Wholesale — 1.3%          
Rush Enterprises, Inc. Class A   41,407    1,690,648 
Entertainment — 0.5%          
Cinemark Holdings, Inc. (a)   39,169   718,751 

 

 

 

 

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

 

   Number of
Shares
   Value 
Food Services — 0.4%          
Sovos Brands, Inc. (a)   25,163   $567,426 
Home Builders — 1.7%          
Century Communities, Inc.   9,760    651,773 
Skyline Champion Corp. (a)   26,590    1,694,315 
         2,346,088 
Leisure Time — 1.6%          
Acushnet Holdings Corp.   10,362    549,601 
YETI Holdings, Inc. (a)   33,415    1,611,271 
         2,160,872 
Lodging — 0.7%          
Boyd Gaming Corp.   14,932    908,313 
Retail — 3.1%          
Boot Barn Holdings, Inc. (a)   6,689    543,080 
Denny's Corp. (a)   14,248    120,681 
Freshpet, Inc. (a)   7,782    512,678 
Papa John's International, Inc. (b)   9,288    633,627 
Patrick Industries, Inc.   6,195    464,997 
Victoria's Secret & Co. (a)   20,586    343,374 
Wingstop, Inc.   8,775    1,578,096 
         4,196,533 
         15,459,666 
Consumer, Non-cyclical — 23.0%          
Beverages — 0.9%          
Celsius Holdings, Inc. (a)   7,175    1,231,230 
Biotechnology — 7.2%          
Akero Therapeutics, Inc. (a)   11,493    581,316 
Amicus Therapeutics, Inc. (a)   48,533    590,161 
Apellis Pharmaceuticals, Inc. (a) (b)   13,312    506,389 
Blueprint Medicines Corp. (a)   6,268    314,779 
Celldex Therapeutics, Inc. (a)   4,337    119,354 
Crinetics Pharmaceuticals, Inc. (a)   28,466    846,579 
Cytokinetics, Inc. (a)   21,085    621,164 
Immatics NV (a)   56,357    652,614 
Immunocore Holdings PLC ADR (a)   6,297    326,814 
ImmunoGen, Inc. (a)   10,742    170,476 
Intellia Therapeutics, Inc. (a)   9,402    297,291 
Intra-Cellular Therapies, Inc. (a)   12,791    666,283 
Kymera Therapeutics, Inc. (a)   16,949    235,591 
Myriad Genetics, Inc. (a)   30,971    496,775 
Prothena Corp. PLC (a)   4,568    220,406 
PTC Therapeutics, Inc. (a)   8,805    197,320 
Revolution Medicines, Inc. (a)   21,496    595,009 
Rocket Pharmaceuticals, Inc. (a)   39,003    799,171 
Structure Therapeutics, Inc. ADR (a) (b)   3,688    185,949 
Syndax Pharmaceuticals, Inc. (a)   27,369    397,398 
Veracyte, Inc. (a)   22,432   500,907 
Xenon Pharmaceuticals, Inc. (a)   7,961    271,948 

 

 

 

 

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

 

   Number of
Shares
   Value 
Zentalis Pharmaceuticals, Inc. (a)   8,037   $161,222 
         9,754,916 
Commercial Services — 3.5%          
Cross Country Healthcare, Inc. (a)   26,327    652,646 
European Wax Center, Inc. Class A (a)   26,342    426,740 
H&R Block, Inc.   19,010    818,571 
Herc Holdings, Inc.   4,859    577,930 
ManpowerGroup, Inc.   9,606    704,312 
TriNet Group, Inc. (a)   14,019    1,632,933 
         4,813,132 
Cosmetics & Personal Care — 1.0%          
elf Beauty, Inc. (a)   12,102    1,329,163 
Food — 0.5%          
TreeHouse Foods, Inc. (a)   15,279    665,859 
Health Care – Products — 5.6%          
Glaukos Corp. (a)   19,400    1,459,850 
Globus Medical, Inc. Class A (a)   10,725    532,496 
Haemonetics Corp. (a)   21,252    1,903,754 
Inari Medical, Inc. (a)   12,467    815,342 
Inspire Medical Systems, Inc. (a)   4,338    860,833 
Lantheus Holdings, Inc. (a)   2,369    164,598 
Omnicell, Inc. (a)   10,059    453,057 
PROCEPT BioRobotics Corp. (a)   22,019    722,444 
Shockwave Medical, Inc. (a)   3,346    666,189 
         7,578,563 
Health Care – Services — 2.4%          
Acadia Healthcare Co., Inc. (a)   19,006    1,336,312 
Amedisys, Inc. (a)   6,319    590,194 
HealthEquity, Inc. (a)   9,913    724,145 
Surgery Partners, Inc. (a) (b)   21,068    616,239 
         3,266,890 
Pharmaceuticals — 1.9%          
Aclaris Therapeutics, Inc. (a)   43,885    300,612 
Ascendis Pharma AS ADR (a)   1,705    159,656 
BellRing Brands, Inc. (a)   17,690    729,359 
Merus NV (a)   17,830    420,431 
Morphic Holding, Inc. (a)   10,511    240,807 
Revance Therapeutics, Inc. (a)   8,811    101,062 
Vaxcyte, Inc. (a)   7,869    401,162 
Verona Pharma PLC ADR (a) (b)   19,033    310,238 
         2,663,327 
         31,303,080 
Energy — 7.1%          
Energy – Alternate Sources — 1.3%          
Maxeon Solar Technologies Ltd. (a) (b)   20,237    234,547 

 

 

 

 

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

 

   Number of
Shares
   Value 
Shoals Technologies Group, Inc. Class A (a)   84,685   $1,545,501 
         1,780,048 
Oil & Gas — 5.6%          
Chord Energy Corp.   12,490    2,024,254 
Gulfport Energy Corp. (a)   5,888    698,670 
Magnolia Oil & Gas Corp. Class A   35,849    821,301 
Seadrill Ltd. (a)   31,304    1,402,106 
Sitio Royalties Corp. Class A   30,317    733,974 
Viper Energy Partners LP   69,436    1,935,876 
         7,616,181 
Oil & Gas Services — 0.2%          
Aris Water Solutions, Inc. Class A   24,323    242,744 
         9,638,973 
Financial — 15.8%          
Banks — 3.9%          
Ameris Bancorp   23,343    896,138 
Cadence Bank   63,034    1,337,582 
First Interstate BancSystem, Inc. Class A   28,310    706,051 
Hancock Whitney Corp.   21,864    808,749 
National Bank Holdings Corp. Class A   25,474    758,106 
Seacoast Banking Corp. of Florida   38,591    847,458 
         5,354,084 
Diversified Financial Services — 3.8%          
Air Lease Corp.   24,443    963,299 
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)   56,586    1,199,623 
PJT Partners, Inc. Class A   18,432    1,464,238 
PRA Group, Inc. (a)   36,872    708,311 
StepStone Group, Inc. Class A   27,562    870,408 
         5,205,879 
Insurance — 2.6%          
Assured Guaranty Ltd.   15,916    963,236 
Kemper Corp.   14,803    622,170 
MGIC Investment Corp.   32,846    548,200 
Selective Insurance Group, Inc.   6,928    714,762 
SiriusPoint Ltd. (a)   67,840    689,933 
         3,538,301 
Real Estate — 0.6%          
McGrath RentCorp   7,503    752,101 
Real Estate Investment Trusts (REITS) — 4.9%          
Douglas Emmett, Inc. (b)   45,260    577,518 
Essential Properties Realty Trust, Inc.   33,263    719,479 
National Storage Affiliates Trust   17,179    545,261 
Phillips Edison & Co., Inc.   48,613    1,630,480 
PotlatchDeltic Corp.   17,273    784,021 
Ryman Hospitality Properties, Inc.   11,872    988,700 
Terreno Realty Corp.   12,322    699,890 

 

 

 

 

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

 

   Number of
Shares
   Value 
Xenia Hotels & Resorts, Inc.   57,800   $680,884 
         6,626,233 
         21,476,598 
Industrial — 17.3%          
Aerospace & Defense — 1.3%          
Curtiss-Wright Corp.   5,610    1,097,484 
Leonardo DRS, Inc. (a)   40,961    684,049 
         1,781,533 
Building Materials — 1.9%          
AZEK Co., Inc. (a)   61,283    1,822,557 
Boise Cascade Co.   7,708    794,232 
         2,616,789 
Electrical Components & Equipment — 1.0%          
Acuity Brands, Inc.   2,996    510,248 
Novanta, Inc. (a)   6,052    868,099 
         1,378,347 
Engineering & Construction — 2.8%          
Comfort Systems USA, Inc.   6,983    1,189,973 
Fluor Corp. (a)   72,467    2,659,539 
         3,849,512 
Environmental Controls — 1.1%          
Casella Waste Systems, Inc. Class A (a)   9,565    729,809 
Clean Harbors, Inc. (a)   4,374    732,033 
         1,461,842 
Hand & Machine Tools — 0.4%          
Kennametal, Inc.   21,801    542,409 
Machinery – Diversified — 5.0%          
Albany International Corp. Class A   6,278    541,666 
Applied Industrial Technologies, Inc.   10,896    1,684,631 
Cactus, Inc. Class A   21,887    1,098,946 
Flowserve Corp.   24,172    961,320 
Middleby Corp. (a)   4,680    599,040 
Zurn Elkay Water Solutions Corp. Class C   68,652    1,923,629 
         6,809,232 
Metal Fabricate & Hardware — 0.5%          
Helios Technologies, Inc.   12,250    679,630 
Miscellaneous - Manufacturing — 0.5%          
EnPro Industries, Inc.   5,800    702,902 
Packaging & Containers — 0.6%          
Graphic Packaging Holding Co.   34,307    764,360 
Transportation — 1.7%          
Kirby Corp. (a)   11,318    937,130 

 

 

 

 

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

 

   Number of
Shares
   Value 
RXO, Inc. (a)   33,657   $664,053 
Ryder System, Inc.   6,319    675,817 
         2,277,000 
Trucking & Leasing — 0.5%          
GATX Corp.   6,060    659,510 
         23,523,066 
Technology — 14.0%          
Computers — 2.0%          
CyberArk Software Ltd. (a)   4,867    797,068 
Exlservice Holdings, Inc. (a)   42,742    1,198,486 
Rapid7, Inc. (a)   15,717    719,524 
         2,715,078 
Semiconductors — 2.5%          
Cirrus Logic, Inc. (a)   4,866    359,889 
FormFactor, Inc. (a)   21,387    747,262 
MKS Instruments, Inc.   5,587    483,499 
Power Integrations, Inc.   9,029    689,003 
SiTime Corp. (a)   4,362    498,359 
Synaptics, Inc. (a)   7,067    632,072 
         3,410,084 
Software — 9.5%          
Clearwater Analytics Holdings, Inc. Class A (a)   23,726    458,861 
DoubleVerify Holdings, Inc. (a)   55,279    1,545,048 
Duolingo, Inc. (a)   3,047    505,406 
Five9, Inc. (a)   12,231    786,453 
Global-e Online Ltd. (a)   17,555    697,636 
Intapp, Inc. (a)   11,023    369,491 
Jamf Holding Corp. (a)   80,778    1,426,539 
Manhattan Associates, Inc. (a)   5,339    1,055,307 
New Relic, Inc. (a)   15,038    1,287,554 
PowerSchool Holdings, Inc. Class A (a) (b)   51,855    1,175,034 
RingCentral, Inc. Class A (a)   5,968    176,832 
Sprout Social, Inc. Class A (a) (b)   30,823    1,537,451 
Verra Mobility Corp. (a)   96,071    1,796,528 
         12,818,140 
         18,943,302 
Utilities — 1.9%          
Electric — 1.4%          
Ameresco, Inc. Class A (a) (b)   16,866    650,353 
Atlantica Sustainable Infrastructure PLC   31,019    592,463 
IDACORP, Inc.   5,200    486,980 
Portland General Electric Co.   5,585    226,081 
         1,955,877 
Gas — 0.5%          
ONE Gas, Inc.   8,841    603,663 
         2,559,540 

 

 

 

 

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

 

   Number of
Shares
   Value 
TOTAL COMMON STOCK
(Cost $130,710,612)
       $135,006,912 
           
TOTAL EQUITIES
(Cost $130,710,612)
        135,006,912 
           
MUTUAL FUNDS — 0.5%          
           
Diversified Financial Services — 0.5%          
iShares Russell 2000 ETF (b)   3,388    598,795 
iShares Russell 2000 Growth ETF   601    134,715 
         733,510 
           
TOTAL MUTUAL FUNDS
(Cost $798,705)
        733,510 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $131,509,317)
        135,740,422 
           
SHORT-TERM INVESTMENTS — 1.3%          
Investment of Cash Collateral from Securities Loaned — 1.2%          
State Street Navigator Securities Lending Government Money Market Portfolio (c)   1,627,524    1,627,524 
           
   Principal
Amount
    
Repurchase Agreement — 0.1%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (d)  $147,316   147,316 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $1,774,840)
        1,774,840 
           
TOTAL INVESTMENTS — 101.2%
(Cost $133,284,157) (e)
        137,515,262 
           
Other Assets/(Liabilities) — (1.2)%        (1,678,490) 
           
NET ASSETS — 100.0%       $135,836,772 

 

Abbreviation Legend

ADR American Depositary Receipt
ETF Exchange-Traded Fund

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) Non-income producing security.
(b) Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2023, was $9,805,793 or 7.22% of net assets. The Fund received $8,420,248 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 $147,336. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $150,288.
(e) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Small Company Value Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.8%          
           
COMMON STOCK — 99.8%          
Basic Materials — 1.8%          
Chemicals — 1.8%          
Element Solutions, Inc.   14,169   $277,854 
Ingevity Corp. (a)   5,160    245,668 
Minerals Technologies, Inc.   13,628    746,269 
         1,269,791 
         1,269,791 
Communications — 2.3%          
Internet — 0.9%          
Entravision Communications Corp. Class A   111,934    408,559 
Solo Brands, Inc. Class A (a)   44,543    227,169 
         635,728 
Media — 1.4%          
Cable One, Inc.   1,443    888,369 
Townsquare Media, Inc. Class A   9,154    79,823 
         968,192 
         1,603,920 
Consumer, Cyclical — 18.1%          
Apparel — 1.9%          
Tapestry, Inc.   44,891    1,290,616 
Distribution & Wholesale — 1.4%          
A-Mark Precious Metals, Inc.   18,329    537,589 
OPENLANE, Inc. (a)   17,566    262,085 
Titan Machinery, Inc. (a)   7,546    200,573 
         1,000,247 
Entertainment — 1.3%          
Accel Entertainment, Inc. (a)   40,397    442,347 
Everi Holdings, Inc. (a)   32,232    426,107 
         868,454 
Home Builders — 2.7%          
Cavco Industries, Inc. (a)   1,106    293,820 
Skyline Champion Corp. (a)   25,200    1,605,744 
         1,899,564 

 

 

 

 

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

 

   Number of
Shares
   Value 
Home Furnishing — 0.3%          
Vizio Holding Corp. Class A (a)   34,696   $187,705 
Leisure Time — 3.3%          
Brunswick Corp.   17,941    1,417,339 
Malibu Boats, Inc. Class A (a)   12,427    609,172 
Planet Fitness, Inc. Class A (a)   5,824    286,424 
         2,312,935 
Lodging — 0.6%          
Boyd Gaming Corp.   6,218    378,241 
Retail — 6.6%          
Beacon Roofing Supply, Inc. (a)   13,456    1,038,400 
Dave & Buster's Entertainment, Inc. (a)   21,559    799,192 
GMS, Inc. (a)   14,435    923,407 
MarineMax, Inc. (a)   22,527    739,336 
OneWater Marine, Inc. Class A (a) (b)   19,415    497,412 
Penske Automotive Group, Inc.   2,964    495,166 
Red Robin Gourmet Burgers, Inc. (a) (b)   9,038    72,666 
         4,565,579 
         12,503,341 
Consumer, Non-cyclical — 14.6%          
Agriculture — 0.3%          
Turning Point Brands, Inc.   10,083    232,816 
Commercial Services — 9.1%          
AMN Healthcare Services, Inc. (a)   1,742    148,384 
Barrett Business Services, Inc.   3,719    335,603 
Brink's Co.   18,182    1,320,741 
Deluxe Corp.   30,370    573,689 
Euronet Worldwide, Inc. (a)   10,411    826,425 
EVERTEC, Inc.   43,552    1,619,263 
Korn Ferry   20,390    967,302 
Loomis AB   15,047    404,050 
Repay Holdings Corp. (a)   12,624    95,816 
         6,291,273 
Cosmetics & Personal Care — 1.7%          
Edgewell Personal Care Co.   32,384    1,196,913 
Health Care – Products — 1.8%          
Embecta Corp.   25,792    388,170 
Enovis Corp. (a)   7,924    417,832 
Envista Holdings Corp. (a)   15,933    444,212 
         1,250,214 
Household Products & Wares — 1.7%          
Spectrum Brands Holdings, Inc.   14,620    1,145,477 
         10,116,693 

 

 

 

 

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

 

   Number of
Shares
   Value 
Energy — 6.3%          
Energy – Alternate Sources — 0.2%          
Enviva, Inc. (b)   17,762   $132,682 
Oil & Gas — 3.9%          
Chord Energy Corp.   3,111    504,200 
Earthstone Energy, Inc. Class A (a)   21,552    436,212 
Magnolia Oil & Gas Corp. Class A   46,527    1,065,933 
Northern Oil & Gas, Inc.   18,234    733,554 
         2,739,899 
Oil & Gas Services — 2.2%          
ChampionX Corp.   41,969    1,494,936 
         4,367,517 
Financial — 32.1%          
Banks — 19.6%          
Ameris Bancorp   21,287    817,208 
BankUnited, Inc.   19,629    445,578 
Columbia Banking System, Inc.   36,814    747,324 
CVB Financial Corp.   39,490    654,349 
First BanCorp   100,083    1,347,117 
First Interstate BancSystem, Inc. Class A   24,163    602,625 
First Merchants Corp.   9,555    265,820 
FNB Corp.   120,187    1,296,818 
Home BancShares, Inc.   58,891    1,233,178 
Independent Bank Group, Inc.   3,584    141,747 
Old National Bancorp   111,987    1,628,291 
Origin Bancorp, Inc.   8,978    259,195 
Popular, Inc.   2,649    166,914 
Premier Financial Corp.   1,306    22,280 
SouthState Corp.   19,837    1,336,220 
UMB Financial Corp.   16,235    1,007,382 
Valley National Bancorp   120,396    1,030,590 
Webster Financial Corp.   14,009    564,703 
         13,567,339 
Diversified Financial Services — 0.1%          
Enact Holdings, Inc.   3,598    97,974 
Insurance — 3.0%          
Axis Capital Holdings Ltd.   25,008    1,409,701 
Fidelis Insurance Holdings Ltd. (a)   22,768    334,234 
Selective Insurance Group, Inc.   2,994    308,891 
         2,052,826 
Investment Companies — 1.7%          
Compass Diversified Holdings (b)   62,872    1,180,107 
Private Equity — 0.4%          
Patria Investments Ltd. Class A   18,444    268,913 
Real Estate Investment Trusts (REITS) — 5.3%          
CareTrust REIT, Inc.   16,274    333,617 
Easterly Government Properties, Inc.   16,250    185,738 

 

 

 

 

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

 

   Number of
Shares
   Value 
Four Corners Property Trust, Inc.   26,610   $590,476 
Highwoods Properties, Inc.   23,514    484,624 
Kite Realty Group Trust   26,074    558,505 
National Health Investors, Inc.   6,298    323,465 
NETSTREIT Corp.   17,390    270,936 
Physicians Realty Trust   37,067    451,847 
Summit Hotel Properties, Inc.   17,499    101,494 
UMH Properties, Inc.   28,066    393,485 
         3,694,187 
Savings & Loans — 2.0%          
Axos Financial, Inc. (a)   8,398    317,948 
Pacific Premier Bancorp, Inc.   35,773    778,421 
Provident Financial Services, Inc.   16,951    259,181 
         1,355,550 
         22,216,896 
Industrial — 17.1%          
Building Materials — 1.1%          
Tecnoglass, Inc.   22,735    749,346 
Electrical Components & Equipment — 0.4%          
Belden, Inc.   3,217    310,601 
Electronics — 4.8%          
Atmus Filtration Technologies, Inc. (a)   11,022    229,809 
Avnet, Inc.   28,932    1,394,233 
Coherent Corp. (a)   42,586    1,390,007 
Vontier Corp.   9,851    304,593 
         3,318,642 
Engineering & Construction — 0.9%          
Dycom Industries, Inc. (a)   2,612    232,468 
NV5 Global, Inc. (a)   3,714    357,398 
         589,866 
Environmental Controls — 0.1%          
CECO Environmental Corp. (a)   2,477    39,558 
Hand & Machine Tools — 0.2%          
Luxfer Holdings PLC   10,932    142,663 
Machinery – Diversified — 3.3%          
Cactus, Inc. Class A   18,830    945,454 
DXP Enterprises, Inc. (a)   6,856    239,549 
Esab Corp.   1,964    137,912 
Gates Industrial Corp. PLC (a)   83,517    969,632 
         2,292,547 
Metal Fabricate & Hardware — 3.0%          
Hillman Solutions Corp. (a)   79,308    654,291 
Timken Co.   19,597    1,440,183 
         2,094,474 

 

 

 

 

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

 

   Number of
Shares
   Value 
Miscellaneous - Manufacturing — 0.0%          
DIRTT Environmental Solutions (a) (b)   64,423   $25,801 
Packaging & Containers — 3.3%          
Graphic Packaging Holding Co.   76,547    1,705,467 
Karat Packaging, Inc.   3,643    84,008 
Pactiv Evergreen, Inc.   61,561    500,491 
         2,289,966 
         11,853,464 
Technology — 5.9%          
Semiconductors — 2.5%          
Cohu, Inc. (a)   10,016    344,951 
Kulicke & Soffa Industries, Inc.   21,628    1,051,770 
MKS Instruments, Inc.   4,001    346,246 
         1,742,967 
Software — 3.4%          
Digital Turbine, Inc. (a)   27,169    164,372 
Donnelley Financial Solutions, Inc. (a)   7,374    415,009 
IBEX Holdings Ltd. (a)   12,681    195,922 
Teradata Corp. (a)   27,600    1,242,552 
Verra Mobility Corp. (a)   17,029    318,442 
         2,336,297 
         4,079,264 
Utilities — 1.6%          
Electric — 0.5%          
ALLETE, Inc.   5,996    316,589 
Gas — 1.1%          
Northwest Natural Holding Co.   3,763    143,596 
Southwest Gas Holdings, Inc.   10,878    657,140 
         800,736 
         1,117,325 
           
TOTAL COMMON STOCK
(Cost $78,127,241)
        69,128,211 
           
TOTAL EQUITIES
(Cost $78,127,241)
        69,128,211 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $78,127,241)
        69,128,211 
           
SHORT-TERM INVESTMENTS — 0.4%          
Investment of Cash Collateral from Securities Loaned — 0.3%          
State Street Navigator Securities Lending Government Money Market Portfolio (c)   180,997    180,997 

 

 

 

 

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

 

   Principal
Amount
   Value 
Repurchase Agreement — 0.1%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (d)  $101,354   $101,354 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $282,351)
        282,351 
           
TOTAL INVESTMENTS — 100.2%
(Cost $78,409,592) (e)
        69,410,562 
           
Other Assets/(Liabilities) — (0.2)%        (165,139) 
           
NET ASSETS — 100.0%       $69,245,423 

 

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, 2023, was $1,836,597 or 2.65% of net assets. The Fund received $1,701,274 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 $101,367. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $103,402.
(e) See Note 3 for aggregate cost for federal tax purposes.

 

Forward contracts
Counterparty  Settlement Date  Currency Purchased  Currency Sold  Unrealized Appreciation (Depreciation) 
UBS AG  12/22/23  USD  329,228   SEK  3,624,672   $(3,882)

 

Currency Legend

SEK Swedish Krona
USD U.S. Dollar

 

 

 

MML Small/Mid Cap Value Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.3%          
           
COMMON STOCK — 99.3%          
Basic Materials — 3.8%          
Chemicals — 1.2%          
Element Solutions, Inc.   64,837   $1,271,453 
Huntsman Corp.   8,847    215,867 
         1,487,320 
Iron & Steel — 1.0%          
ATI, Inc. (a)   28,593    1,176,602 
Mining — 1.6%          
Cameco Corp.   50,034    1,983,348 
         4,647,270 
Communications — 3.5%          
Internet — 2.2%          
Criteo SA Sponsored ADR (a)   47,491    1,386,737 
Gen Digital, Inc.   76,223    1,347,623 
         2,734,360 
Media — 1.2%          
Nexstar Media Group, Inc. Class A   10,744    1,540,367 
Telecommunications — 0.1%          
Calix, Inc. (a)   1,495    68,531 
         4,343,258 
Consumer, Cyclical — 13.6%          
Airlines — 1.0%          
Alaska Air Group, Inc. (a)   31,596    1,171,580 
Apparel — 3.6%          
PVH Corp.   22,788    1,743,510 
Ralph Lauren Corp.   13,945    1,618,875 
Tapestry, Inc.   38,460    1,105,725 
         4,468,110 
Auto Parts & Equipment — 1.6%          
Dana, Inc.   66,632    977,491 
Goodyear Tire & Rubber Co. (a)   82,285    1,022,803 
         2,000,294 

 

 

 

 

MML Small/Mid Cap Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Home Builders — 2.1%          
PulteGroup, Inc.   18,892   $1,398,952 
Taylor Morrison Home Corp. (a)   27,734    1,181,746 
         2,580,698 
Lodging — 1.0%          
Hilton Grand Vacations, Inc. (a)   31,662    1,288,643 
Retail — 4.3%          
Bath & Body Works, Inc.   44,627    1,508,393 
Dine Brands Global, Inc.   23,121    1,143,333 
Papa John's International, Inc.   16,401    1,118,876 
Sally Beauty Holdings, Inc. (a)   28,528    239,065 
Williams-Sonoma, Inc. (b)   8,312    1,291,685 
         5,301,352 
         16,810,677 
Consumer, Non-cyclical — 14.6%          
Commercial Services — 6.4%          
ABM Industries, Inc.   33,186    1,327,772 
ADT, Inc.   251,854    1,511,124 
AMN Healthcare Services, Inc. (a)   14,070    1,198,482 
Herc Holdings, Inc.   14,070    1,673,486 
Korn Ferry   17,010    806,954 
Robert Half, Inc.   18,899    1,384,919 
         7,902,737 
Food — 1.8%          
Hain Celestial Group, Inc. (a)   82,020    850,548 
Nomad Foods Ltd. (a)   92,433    1,406,830 
         2,257,378 
Health Care – Products — 3.5%          
Avantor, Inc. (a)   64,210    1,353,547 
Envista Holdings Corp. (a)   54,726    1,525,761 
Integra LifeSciences Holdings Corp. (a)   36,139    1,380,148 
         4,259,456 
Health Care – Services — 2.9%          
Acadia Healthcare Co., Inc. (a)   16,822    1,182,755 
Fortrea Holdings, Inc. (a)   41,238    1,178,994 
Pediatrix Medical Group, Inc. (a)   92,138    1,171,074 
         3,532,823 
         17,952,394 
Energy — 4.0%          
Oil & Gas — 2.6%          
HF Sinclair Corp.   24,486    1,393,988 
Magnolia Oil & Gas Corp. Class A   76,670    1,756,510 
         3,150,498 

 

 

 

 

MML Small/Mid Cap Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Oil & Gas Services — 1.4%          
ChampionX Corp.   49,800   $1,773,876 
         4,924,374 
Financial — 26.8%          
Banks — 10.2%          
BankUnited, Inc.   28,147    638,937 
Comerica, Inc.   37,974    1,577,820 
First BanCorp   115,082    1,549,004 
First Citizens BancShares, Inc. Class A   1,513    2,088,091 
First Hawaiian, Inc.   89,922    1,623,092 
Texas Capital Bancshares, Inc. (a)   24,485    1,442,167 
Webster Financial Corp.   27,375    1,103,486 
Wintrust Financial Corp.   19,448    1,468,324 
Zions Bancorp NA   31,069    1,083,997 
         12,574,918 
Diversified Financial Services — 3.9%          
Cboe Global Markets, Inc.   12,440    1,943,252 
Moelis & Co. Class A   27,796    1,254,434 
Stifel Financial Corp.   26,351    1,619,005 
         4,816,691 
Insurance — 5.1%          
American Financial Group, Inc.   11,518    1,286,215 
Everest Group Ltd.   5,470    2,033,035 
Hanover Insurance Group, Inc.   9,488    1,052,978 
Kemper Corp.   21,564    906,335 
Selective Insurance Group, Inc.   9,967    1,028,296 
         6,306,859 
Real Estate — 1.2%          
Jones Lang LaSalle, Inc. (a)   10,313    1,455,989 
Real Estate Investment Trusts (REITS) — 6.4%          
Apartment Income REIT Corp.   49,034    1,505,344 
Broadstone Net Lease, Inc.   64,008    915,314 
CubeSmart   33,384    1,272,932 
First Industrial Realty Trust, Inc.   24,904    1,185,181 
Physicians Realty Trust   97,724    1,191,256 
Ryman Hospitality Properties, Inc.   2,962    246,675 
STAG Industrial, Inc.   47,258    1,630,874 
         7,947,576 
         33,102,033 
Industrial — 21.2%          
Aerospace & Defense — 0.6%          
Spirit AeroSystems Holdings, Inc. Class A   48,736    786,599 
Building Materials — 2.1%          
Builders FirstSource, Inc. (a)   13,843    1,723,315 

 

 

 

 

MML Small/Mid Cap Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Masonite International Corp. (a)   9,113   $849,514 
         2,572,829 
Electrical Components & Equipment — 1.3%          
Belden, Inc.   16,164    1,560,634 
Electronics — 2.2%          
Avnet, Inc.   31,485    1,517,262 
Sensata Technologies Holding PLC   31,710    1,199,272 
         2,716,534 
Engineering & Construction — 4.4%          
Dycom Industries, Inc. (a)   19,369    1,723,841 
Fluor Corp. (a)   59,310    2,176,677 
MasTec, Inc. (a)   21,353    1,536,775 
         5,437,293 
Environmental Controls — 1.1%          
Stericycle, Inc. (a)   30,602    1,368,215 
Hand & Machine Tools — 1.0%          
Regal Rexnord Corp.   8,927    1,275,490 
Machinery – Construction & Mining — 1.3%          
Oshkosh Corp.   17,415    1,661,914 
Machinery – Diversified — 1.2%          
Middleby Corp. (a)   11,083    1,418,624 
Packaging & Containers — 1.4%          
Berry Global Group, Inc.   27,564    1,706,487 
Transportation — 4.6%          
ArcBest Corp.   14,630    1,487,140 
International Seaways, Inc.   32,117    1,445,265 
Knight-Swift Transportation Holdings, Inc.   30,723    1,540,758 
Star Bulk Carriers Corp.   63,163    1,217,783 
         5,690,946 
         26,195,565 
Technology — 9.2%          
Computers — 2.9%          
Crane NXT Co.   18,440    1,024,710 
Genpact Ltd.   36,000    1,303,200 
Lumentum Holdings, Inc. (a)   27,949    1,262,736 
         3,590,646 
Semiconductors — 4.0%          
Amkor Technology, Inc.   46,640    1,054,064 
FormFactor, Inc. (a)   49,020    1,712,759 
Kulicke & Soffa Industries, Inc.   14,562    708,150 
Synaptics, Inc. (a)   16,232    1,451,790 
         4,926,763 

 

 

 

 

MML Small/Mid Cap Value Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Software — 2.3%          
ACI Worldwide, Inc. (a)   58,610   $1,322,242 
CommVault Systems, Inc. (a)   22,246    1,504,052 
         2,826,294 
         11,343,703 
Utilities — 2.6%          
Electric — 2.6%          
IDACORP, Inc.   19,057    1,784,688 
Portland General Electric Co.   34,760    1,407,085 
         3,191,773 
           
TOTAL COMMON STOCK
(Cost $131,091,182)
        122,511,047 
           
TOTAL EQUITIES
(Cost $131,091,182)
        122,511,047 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $131,091,182)
        122,511,047 
           
   Principal
Amount
    
SHORT-TERM INVESTMENTS — 0.8%          
Repurchase Agreement — 0.8%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (c)  $948,023   948,023 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $948,023)
        948,023 
           
TOTAL INVESTMENTS — 100.1%
(Cost $132,039,205) (d)
        123,459,070 
           
Other Assets/(Liabilities) — (0.1)%        (98,897) 
           
NET ASSETS — 100.0%       $123,360,173 

 

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, 2023, was $1,270,485 or 1.03% of net assets. The Fund received $1,302,162 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 $948,149. Collateralized by U.S. Government Agency obligations with a rate of 0.625%, maturity date of 1/15/26, and an aggregate market value, including accrued interest, of $967,079.
(d) See Note 3 for aggregate cost for federal tax purposes.

 

 

 

MML Sustainable Equity Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Number of
Shares
   Value 
EQUITIES — 99.5%          
           
COMMON STOCK — 99.5%          
Basic Materials — 2.3%          
Chemicals — 2.3%          
Air Products & Chemicals, Inc.   2,299   $651,537 
Ecolab, Inc.   3,236    548,178 
Linde PLC (LIN US)   4,766    1,774,620 
         2,974,335 
Communications — 13.5%          
Internet — 10.5%          
Airbnb, Inc. Class A (a)   2,634    361,411 
Alphabet, Inc. Class A (a)   45,564    5,962,505 
Amazon.com, Inc. (a)   26,578    3,378,596 
CDW Corp.   6,399    1,291,062 
Meta Platforms, Inc. Class A (a)   7,939    2,383,367 
Uber Technologies, Inc. (a)   8,352    384,109 
         13,761,050 
Media — 0.6%          
Liberty Media Corp-Liberty Formula One Class C (a)   4,357    271,441 
Walt Disney Co. (a)   6,897    559,002 
         830,443 
Telecommunications — 2.4%          
Cisco Systems, Inc.   31,591    1,698,332 
Verizon Communications, Inc.   43,347    1,404,876 
         3,103,208 
         17,694,701 
Consumer, Cyclical — 9.4%          
Apparel — 0.5%          
Deckers Outdoor Corp. (a)   1,236    635,415 
Auto Manufacturers — 2.0%          
Cummins, Inc.   4,343    992,202 
Tesla, Inc. (a)   6,600    1,651,452 
         2,643,654 
Auto Parts & Equipment — 0.9%          
Aptiv PLC (a)   11,654    1,148,968 

 

 

 

MML Sustainable Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Distribution & Wholesale — 0.6%          
LKQ Corp.   15,532   $768,989 
Retail — 5.4%          
CarMax, Inc. (a)   4,659    329,531 
Chipotle Mexican Grill, Inc. (a)   166    304,084 
Costco Wholesale Corp.   1,570    886,987 
Home Depot, Inc.   7,256    2,192,473 
Starbucks Corp.   7,258    662,438 
Target Corp.   7,019    776,091 
TJX Cos., Inc.   16,247    1,444,033 
Tractor Supply Co.   2,364    480,010 
         7,075,647 
         12,272,673 
Consumer, Non-cyclical — 19.4%          
Beverages — 1.5%          
PepsiCo, Inc.   11,579    1,961,946 
Biotechnology — 1.2%          
Amgen, Inc.   3,654    982,049 
Vertex Pharmaceuticals, Inc. (a)   1,534    533,433 
         1,515,482 
Commercial Services — 0.7%          
S&P Global, Inc.   2,271    829,846 
Cosmetics & Personal Care — 1.3%          
Colgate-Palmolive Co.   6,899    490,588 
Procter & Gamble Co.   8,579    1,251,333 
         1,741,921 
Food — 2.3%          
Kroger Co.   18,065    808,409 
Mondelez International, Inc. Class A   15,232    1,057,101 
Sysco Corp.   17,971    1,186,984 
         3,052,494 
Health Care – Products — 2.5%          
Danaher Corp.   4,665    1,157,387 
Intuitive Surgical, Inc. (a)   2,448    715,526 
ResMed, Inc.   1,233    182,324 
Thermo Fisher Scientific, Inc.   2,379    1,204,178 
         3,259,415 
Health Care – Services — 2.5%          
Humana, Inc.   1,287    626,151 
UnitedHealth Group, Inc.   5,293    2,668,678 
         3,294,829 
Pharmaceuticals — 7.4%          
AbbVie, Inc.   10,916    1,627,139 
Bristol-Myers Squibb Co.   22,290    1,293,712 

 

 

 

 

MML Sustainable Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Cigna Group   6,462   $1,848,584 
CVS Health Corp.   15,076    1,052,606 
Eli Lilly & Co.   1,381    741,776 
Merck & Co., Inc.   11,751    1,209,765 
Novo Nordisk AS   9,702    882,551 
Zoetis, Inc.   6,169    1,073,283 
         9,729,416 
         25,385,349 
Energy — 4.6%          
Oil & Gas — 3.1%          
ConocoPhillips   18,112    2,169,818 
EOG Resources, Inc.   14,553    1,844,738 
         4,014,556 
Oil & Gas Services — 1.5%          
Schlumberger NV   34,427    2,007,094 
         6,021,650 
Financial — 14.5%          
Banks — 4.5%          
Bank of America Corp.   39,264    1,075,048 
JP Morgan Chase & Co.   14,021    2,033,325 
Morgan Stanley   24,240    1,979,681 
Regions Financial Corp.   45,145    776,494 
         5,864,548 
Diversified Financial Services — 5.3%          
American Express Co.   4,395    655,690 
Ameriprise Financial, Inc.   2,501    824,530 
BlackRock, Inc.   1,462    945,168 
Intercontinental Exchange, Inc.   5,875    646,368 
Mastercard, Inc. Class A   3,895    1,542,069 
Visa, Inc. Class A   10,170    2,339,202 
         6,953,027 
Insurance — 2.5%          
Marsh & McLennan Cos., Inc.   5,633    1,071,960 
MetLife, Inc.   5,244    329,900 
Prudential Financial, Inc.   8,843    839,112 
Travelers Cos., Inc.   6,293    1,027,710 
         3,268,682 
Real Estate Investment Trusts (REITS) — 2.2%          
Equinix, Inc.   1,006    730,618 
Prologis, Inc.   18,986    2,130,419 
         2,861,037 
         18,947,294 

 

 

 

 

MML Sustainable Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
Industrial — 9.3%          
Aerospace & Defense — 0.9%          
Lockheed Martin Corp.   2,823   $1,154,494 
Building Materials — 1.4%          
Johnson Controls International PLC   24,070    1,280,764 
Masco Corp.   11,455    612,270 
         1,893,034 
Electrical Components & Equipment — 0.1%          
Generac Holdings, Inc. (a)   1,447    157,665 
Electronics — 2.3%          
Agilent Technologies, Inc.   8,992    1,005,485 
Honeywell International, Inc.   5,698    1,052,649 
Keysight Technologies, Inc. (a)   6,870    908,970 
         2,967,104 
Machinery – Diversified — 1.0%          
Deere & Co.   1,845    696,266 
Xylem, Inc.   6,437    585,960 
         1,282,226 
Miscellaneous - Manufacturing — 1.6%          
Eaton Corp. PLC   6,385    1,361,793 
Parker-Hannifin Corp.   2,014    784,493 
         2,146,286 
Packaging & Containers — 0.4%          
Ball Corp.   11,770    585,911 
Transportation — 1.6%          
Norfolk Southern Corp.   3,090    608,514 
Union Pacific Corp.   2,001    407,464 
United Parcel Service, Inc. Class B   6,560    1,022,507 
         2,038,485 
         12,225,205 
Technology — 25.1%          
Computers — 7.0%          
Accenture PLC Class A   4,774    1,466,143 
Apple, Inc.   37,898    6,488,517 
International Business Machines Corp.   8,155    1,144,146 
         9,098,806 
Semiconductors — 6.9%          
Advanced Micro Devices, Inc. (a)   10,164    1,045,062 
Analog Devices, Inc.   5,350    936,732 
Applied Materials, Inc.   11,957    1,655,447 
ASML Holding NV   1,076    631,869 
Globalfoundries, Inc. (a)   5,074    295,256 

 

 

 

 

MML Sustainable Equity Fund —  Portfolio of Investments (Continued)

 

   Number of
Shares
   Value 
NVIDIA Corp.   10,291   $4,476,482 
         9,040,848 
Software — 11.2%          
Adobe, Inc. (a)   812    414,039 
Cadence Design Systems, Inc. (a)   3,223    755,149 
Electronic Arts, Inc.   4,099    493,519 
Microsoft Corp.   34,593    10,922,740 
Salesforce, Inc. (a)   6,599    1,338,145 
ServiceNow, Inc. (a)   603    337,053 
Workday, Inc. Class A (a)   2,173    466,869 
         14,727,514 
         32,867,168 
Utilities — 1.4%          
Electric — 1.4%          
NextEra Energy, Inc.   32,687    1,872,638 
           
TOTAL COMMON STOCK
(Cost $107,299,421)
        130,261,013 
           
TOTAL EQUITIES
(Cost $107,299,421)
        130,261,013 
           
MUTUAL FUNDS — 0.3%          
Diversified Financial Services — 0.3%          
SPDR S&P 500 ETF Trust   995    425,343 
           
TOTAL MUTUAL FUNDS
(Cost $432,849)
        425,343 
           
TOTAL LONG-TERM INVESTMENTS
(Cost $107,732,270)
        130,686,356 
           
   Principal
Amount
    
SHORT-TERM INVESTMENTS — 0.3%          
Repurchase Agreement — 0.3%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (b)  $364,161   364,161 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $364,161)
        364,161 
           
TOTAL INVESTMENTS — 100.1%
(Cost $108,096,431) (c)
        131,050,517 
           
Other Assets/(Liabilities) — (0.1)%        (122,361) 
           
NET ASSETS — 100.0%       $130,928,156 

 

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) Maturity value of $364,210. Collateralized by U.S. Government Agency obligations with a rate of 0.500%, maturity date of 2/28/26, and an aggregate market value, including accrued interest, of $371,491.
(c) See Note 3 for aggregate cost for federal tax purposes.

 

Forward contracts
Counterparty  Settlement Date  Currency Purchased  Currency Sold  Unrealized Appreciation (Depreciation) 
Bank of America N.A.  12/22/23  USD  179,916   EUR  169,262   $284 
JP Morgan Chase Bank N.A.  12/22/23  USD  179,948   EUR  169,262    317 
Morgan Stanley & Co. LLC  12/22/23  USD  179,984   EUR  169,262    353
                    $954

 

Currency Legend

EUR Euro
USD U.S. Dollar

 

 

 

MML Total Return Bond Fund —  Portfolio of Investments

 

September 30, 2023 (Unaudited)

 

   Principal
Amount
   Value 
BONDS & NOTES — 113.6%          
           
BANK LOANS — 1.9%          
Aerospace & Defense — 0.0%          
TransDigm, Inc., 2023 Term Loan I, 3 mo. USD Term SOFR + 3.250%          
8.640% VRN 8/24/28  $78,975   $78,963 
Airlines — 0.0%          
United Airlines, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.750%          
9.182% VRN 4/21/28   17,713    17,717 
Beverages — 0.1%          
City Brewing Co. LLC, Closing Date Term Loan, 3 mo. USD Term SOFR + 3.500%          
9.070% VRN 4/05/28   36,217    23,631 
Naked Juice LLC          
Term Loan, 3 mo. USD Term SOFR + 3.250%          
8.740% VRN 1/24/29   140,311    132,961 
2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.000%          
11.490% VRN 1/24/30   28,134    22,710 
         179,302 
Chemicals — 0.0%          
Chemours Co., 2023 USD Term Loan B, 1 mo. USD Term SOFR + 2.500%          
8.816% VRN 8/18/28   117,417    115,949 
Commercial Services — 0.1%          
Element Materials Technology Group US Holdings, Inc.          
2022 USD Delayed Draw Term Loan, 3 mo. USD Term SOFR + 4.250%          
9.740% VRN 7/06/29   9,398    9,269 
2022 USD Term Loan, 3 mo. USD Term SOFR + 4.250%          
9.740% VRN 7/06/29   20,363    20,083 
Pre-Paid Legal Services, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.500%          
8.931% VRN 12/15/28   43,580    43,090 
Prime Security Services Borrower LLC          
2023 Term Loan A2023 Term Loan A,          
0.000% 3/14/28 (a)   25,000    24,500 
2021 Term Loan, 1 mo. USD Term SOFR + 2.750%          
8.192% VRN 9/23/26   46,470    46,386 
Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.000%          
9.664% VRN 3/04/28   111,978    96,546 
Trans Union LLC, 2021 Term Loan B6, 1 mo. USD Term SOFR + 2.250%          
7.681% VRN 12/01/28   85,515    85,398 
TruGreen Ltd. Partnership, 2020 Term Loan, 1 mo. USD Term SOFR + 4.000%          
9.416% VRN 11/02/27   23,974    22,739 
         348,011 

 

 

 

 

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

 

   Principal
Amount
   Value 
Computers — 0.0%          
Amentum Government Services Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 4.000%          
9.431% VRN 1/29/27  $29,010   $28,732 
Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.750%          
9.166% VRN 2/01/28   95,873    95,574 
         124,306 
Cosmetics & Personal Care — 0.0%          
Sunshine Luxembourg VII Sarl, 2021 Term Loan B3, 3 mo. USD Term SOFR + 3.750%          
9.240% VRN 10/01/26   48,272    48,165 
Distribution & Wholesale — 0.0%          
Patriot Container Corp., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750%          
9.166% VRN 3/20/25   7,281    6,900 
Diversified Financial Services — 0.1%          
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750%          
9.140% VRN 4/09/27   58,409    56,889 
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, 3 mo. USD Term SOFR + 2.000%          
7.652% VRN 11/05/28   175,000    174,809 
         231,698 
Electronics — 0.0%          
II-VI, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750%          
8.181% VRN 7/02/29   85,009    84,638 
Entertainment — 0.1%          
Churchill Downs, Inc., 2021 Incremental Term Loan B1, 1 mo. USD Term SOFR + 2.000%          
7.416% VRN 3/17/28   49,745    49,652 
Delta 2 (LUX) Sarl, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.000%          
8.316% VRN 1/15/30   5,655    5,650 
PENN Entertainment, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750%          
8.166% VRN 5/03/29   22,235    22,187 
Scientific Games International, Inc., 2022 USD Term Loan, 1 mo. USD Term SOFR + 3.000%          
8.434% VRN 4/14/29   45,028    44,972 
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 2.750%          
8.181% VRN 5/18/25   119,616    119,300 
         241,761 
Environmental Controls — 0.0%          
Filtration Group Corp., 2023 USD Term Loan, 1 mo. USD Term SOFR + 4.250%          
9.681% VRN 10/21/28   21,663    21,672 
Food — 0.0%          
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750%          
9.181% VRN 10/01/25   7,281    6,989 

 

 

 

 

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

 

   Principal
Amount
   Value 
Froneri International Ltd., 2020 USD Term Loan, 1 mo. USD Term SOFR + 2.250%          
7.666% VRN 1/29/27  $20,312   $20,143 
H Food Holdings LLC, 2018 Term Loan B, 3 mo. USD LIBOR + 3.688%          
9.269% VRN 5/23/25   12,454    10,821 
Hostess Brands LLC, 2023 Term Loan B, 3 mo. USD Term SOFR + 2.500%          
7.890% VRN 6/28/30   69,371    69,443 
         107,396 
Health Care – Products — 0.1%          
Avantor Funding, Inc., 2021 Term Loan B5, 1 mo. USD Term SOFR + 2.250%          
7.666% VRN 11/08/27   62,530    62,445 
Bausch & Lomb Corp.          
2023 Incremental Term Loan,          
0.000% 9/14/28 (a)   28,195    27,808 
Term Loan, 3 mo. USD Term SOFR + 3.250%          
8.755% VRN 5/10/27   42,629    41,374 
Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.250%          
8.681% VRN 10/23/28   171,440    170,874 
         302,501 
Health Care – Services — 0.0%          
ICON Luxembourg Sarl, LUX Term Loan, 3 mo. USD Term SOFR + 2.250%          
7.902% VRN 7/03/28   39,569    39,537 
IQVIA, Inc., 2018 USD Term Loan B3, 3 mo. USD Term SOFR + 1.750%          
7.402% VRN 6/11/25   49,883    49,990 
Star Parent, Inc. ., 2023 Term Loan B,          
0.000% 9/19/30 (a)   23,986    23,423 
         112,950 
Home Furnishing — 0.0%          
AI Aqua Merger Sub, Inc., 2021 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.750%          
9.084% VRN 7/31/28   41,346    40,887 
Insurance — 0.1%          
Acrisure LLC, 2020 Term Loan B, 1 mo. USD LIBOR + 3.500%          
8.931% VRN 2/15/27   98,219    96,710 
AmWINS Group, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.250%          
7.681% VRN 2/19/28   173,307    172,106 
Asurion LLC, 2020 Term Loan B8, 3 mo. USD Term SOFR + 3.250%          
8.681% VRN 12/23/26   56,998    55,716 
         324,532 
Internet — 0.1%          
Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.250%          
8.666% VRN 12/06/27   24,917    24,357 
Gen Digital, Inc., 2021 Term Loan A, 1 mo. USD Term SOFR + 1.500%          
6.916% VRN 9/10/27   109,841    108,812 
MH Sub I LLC, 2023 Term Loan, 1 mo. USD Term SOFR + 4.250%          
9.566% VRN 5/03/28   31,398    30,333 
Proofpoint, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.250%          
8.681% VRN 8/31/28   4,937    4,891 
         168,393 

 

 

 

 

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

 

   Principal
Amount
   Value 
Investment Companies — 0.0%          
Mativ Holdings, Inc., Delayed Draw Term Loan A,          
0.000% 5/06/27 (a)  $40,629   $39,410 
Lodging — 0.0%          
Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 4.000%          
9.316% VRN 1/27/29   73,503    72,676 
Hilton Domestic Operating Co., Inc., 2019 Term Loan B2, 1 mo. USD Term SOFR + 1.750%          
7.170% VRN 6/22/26   12,879    12,866 
         85,542 
Machinery – Diversified — 0.0%          
ASP Blade Holdings, Inc., Initial Term Loan, 1 mo. USD Term SOFR + 4.000%          
9.652% VRN 10/13/28   39,715    34,937 
Media — 0.1%          
CSC Holdings LLC, 2019 Term Loan B5, 1 mo. USD Term SOFR + 2.500%          
7.947% VRN 4/15/27   47,300    42,727 
DirecTV Financing LLC, Term Loan, 1 mo. USD Term SOFR + 5.000%          
10.431% VRN 8/02/27   139,400    136,070 
Virgin Media Bristol LLC, 2023 USD Term Loan Y, 3 mo. USD Term SOFR + 3.250%          
8.311% VRN 3/31/31   150,000    146,143 
         324,940 
Packaging & Containers — 0.1%          
Berry Global, Inc., 2021 Term Loan Z, 3 mo. USD Term SOFR + 1.750%          
7.293% VRN 7/01/26   135,651    135,577 
Pharmaceuticals — 0.4%          
Elanco Animal Health, Inc., Term Loan B, 1 mo. USD Term SOFR + 1.750%          
7.180% VRN 8/01/27   167,591    164,215 
Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000%          
9.490% VRN 10/01/27   98,232    95,684 
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, 1 mo. USD Term SOFR + 2.000%          
7.416% VRN 11/15/27   241,990    237,695 
Horizon Therapeutics USA, Inc., 2021 Term Loan B2, 1 mo. USD Term SOFR + 1.750%          
7.184% VRN 3/15/28   226,197    225,876 
Jazz Financing Lux Sarl, USD Term Loan, 1 mo. USD Term SOFR + 3.500%          
8.931% VRN 5/05/28   138,905    138,770 
Organon & Co., USD Term Loan, 1 mo. USD Term SOFR + 3.000%          
8.442% VRN 6/02/28   252,592    251,834 
PRA Health Sciences, Inc., US Term Loan, 3 mo. USD Term SOFR + 2.250%          
7.902% VRN 7/03/28   9,859    9,851 
         1,123,925 
Private Equity — 0.0%          
GTCR W Merger Sub LLC, USD Term Loan B,          
0.000% 9/20/30 (a)   68,265    68,215 

 

 

 

 

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

 

   Principal
Amount
   Value 
Retail — 0.2%          
1011778 BC Unlimited Liability Co., 2023 Term Loan B5, 1 mo. USD Term SOFR + 2.250%          
7.566% VRN 9/23/30  $43,372   $43,183 
KFC Holding Co., 2021 Term Loan B, 1 mo. USD Term SOFR + 1.750%          
7.195% VRN 3/15/28   39,116    39,053 
Michaels Cos., Inc., 2021 Term Loan B, 3 mo. USD Term SOFR + 4.250%          
9.902% VRN 4/15/28   234,600    213,592 
Whatabrands LLC, 2021 Term Loan B, 1 mo. USD Term SOFR + 3.000%          
8.431% VRN 8/03/28   221,063    219,981 
         515,809 
Semiconductors — 0.0%          
Entegris, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500%, 3 mo. USD Term SOFR + 2.500%          
7.816% - 7.890% 7/06/29   8,104    8,101 
Software — 0.3%          
Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.250%          
8.568% VRN 2/15/29   236,254    231,456 
CDK Global, Inc., 2022 USD Term Loan B, 3 mo. USD Term SOFR + 4.250%          
9.640% VRN 7/06/29   48,018    47,992 
EagleView Technology Corp., 2018 Add On Term Loan B,          
0.000% 8/14/25 (a)   5,242    4,941 
Open Text Corp.          
Term Loan B, 1 mo. USD Term SOFR + 1.750%          
7.166% VRN 5/30/25   26,077    26,075 
2023 Term Loan B, 1 mo. USD Term SOFR + 2.750%          
8.166% VRN 1/31/30   54,049    54,025 
Oracle Corp., Term Loan A1, 1 mo. USD Term SOFR + 1.600%          
6.925% VRN 8/16/27   195,574    194,352 
RealPage, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.000%          
8.431% VRN 4/24/28   14,317    14,138 
Renaissance Holding Corp., 2023 Refi Term Loan, 3 mo. USD Term SOFR + 4.750%          
10.066% VRN 4/05/30   40,534    40,165 
Sophia, LP, 2021 Term Loan B, 1 mo. USD Term SOFR + 3.500%          
8.916% VRN 10/07/27   21,276    21,209 
SS&C Technologies, Inc., 2018 Term Loan B5,          
0.000% 4/16/25 (a)   122,069    121,998 
         756,351 
Telecommunications — 0.1%          
Frontier Communications Corp., 2021 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750%          
9.181% VRN 10/08/27   22,782    22,082 
SBA Senior Finance II LLC, 2018 Term Loan B, 1 mo. USD Term SOFR + 1.750%          
7.170% VRN 4/11/25   69,783    69,711 
Zayo Group Holdings, Inc., 2022 USD Incremental Term Loan B, 1 mo. USD Term SOFR + 4.325%          
9.641% VRN 3/09/27   112,263    90,961 
         182,754 

 

 

 

 

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

 

   Principal
Amount
   Value 
Transportation — 0.0%          
Genesee & Wyoming, Inc., Term Loan, 3 mo. USD Term SOFR + 2.000%          
7.490% VRN 12/30/26  $41,567   $41,476 
           
TOTAL BANK LOANS
(Cost $5,909,008)
        5,872,778 
           
CORPORATE DEBT — 26.0%          
Aerospace & Defense — 0.0%          
TransDigm, Inc.          
6.750% 8/15/28 (b)   100,000    98,449 
Agriculture — 0.8%          
BAT Capital Corp.          
4.390% 8/15/37   400,000    306,083 
4.540% 8/15/47   1,050,000    722,759 
4.758% 9/06/49   34,000    23,912 
5.650% 3/16/52   185,000    148,110 
Imperial Brands Finance PLC          
3.125% 7/26/24 (b)   320,000    311,843 
3.500% 7/26/26 (b)   225,000    210,560 
4.250% 7/21/25 (b)   415,000    399,748 
Reynolds American, Inc.          
5.850% 8/15/45   315,000    260,924 
         2,383,939 
Airlines — 0.2%          
United Airlines Pass-Through Trust          
5.800% 7/15/37   665,000    646,440 
Banks — 10.1%          
Bank of America Corp.          
Secured Overnight Financing Rate + 0.910% 1.658% VRN 3/11/27   755,000    677,381 
Secured Overnight Financing Rate + 0.960% 1.734% VRN 7/22/27   160,000    141,785 
Secured Overnight Financing Rate + 1.370% 1.922% VRN 10/24/31   110,000    82,988 
Secured Overnight Financing Rate + 1.060% 2.087% VRN 6/14/29   1,000,000    837,134 
Secured Overnight Financing Rate + 1.220% 2.299% VRN 7/21/32   375,000    284,149 
Secured Overnight Financing Rate + 1.050% 2.551% VRN 2/04/28   635,000    566,213 
Secured Overnight Financing Rate + 1.210% 2.572% VRN 10/20/32   435,000    334,251 
Secured Overnight Financing Rate + 2.150% 2.592% VRN 4/29/31   140,000    112,503 
3 mo. USD Term SOFR + 1.302% 3.419% VRN 12/20/28   470,000    421,613 
3 mo. USD Term SOFR + 1.837% 3.824% VRN 1/20/28   415,000    385,386 
3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29   485,000    444,272 
Citigroup, Inc.          
Secured Overnight Financing Rate + 0.669% 0.981% VRN 5/01/25   85,000    82,264 
Secured Overnight Financing Rate + 0.770% 1.462% VRN 6/09/27   540,000    477,324 
Secured Overnight Financing Rate + 1.167% 2.561% VRN 5/01/32   580,000    448,976 
Secured Overnight Financing Rate + 2.107% 2.572% VRN 6/03/31   255,000    203,339 
Secured Overnight Financing Rate + 1.422% 2.976% VRN 11/05/30   150,000    125,589 
Secured Overnight Financing Rate + 1.351% 3.057% VRN 1/25/33   640,000    505,944 
3 mo. USD Term SOFR + 1.454% 4.075% VRN 4/23/29   525,000    483,179 
Goldman Sachs Group, Inc.          
Secured Overnight Financing Rate + 0.486% 0.925% VRN 10/21/24   530,000    525,814 
1.217% 12/06/23   860,000    852,873 
Secured Overnight Financing Rate + 0.798% 1.431% VRN 3/09/27   500,000    445,145 
Secured Overnight Financing Rate + 0.818% 1.542% VRN 9/10/27   1,450,000    1,269,612 
Secured Overnight Financing Rate + 1.090% 1.992% VRN 1/27/32   140,000    104,947 
Secured Overnight Financing Rate + 1.248% 2.383% VRN 7/21/32   285,000    217,053 

 

 

 

 

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

 

   Principal
Amount
   Value 
Secured Overnight Financing Rate + 1.264% 2.650% VRN 10/21/32  $40,000   $30,875 
HSBC Holdings PLC          
Secured Overnight Financing Rate + 1.732% 2.013% VRN 9/22/28   1,555,000    1,319,843 
Secured Overnight Financing Rate + 1.285% 2.206% VRN 8/17/29   610,000    502,781 
Secured Overnight Financing Rate + 2.650% 6.332% VRN 3/09/44   360,000    345,671 
JP Morgan Chase & Co.          
3 mo. USD Term SOFR + 0.580% 0.969% VRN 6/23/25   1,060,000    1,017,264 
Secured Overnight Financing Rate + 0.885% 1.578% VRN 4/22/27   660,000    589,005 
Secured Overnight Financing Rate + 1.015% 2.069% VRN 6/01/29   1,500,000    1,263,911 
Secured Overnight Financing Rate + 1.180% 2.545% VRN 11/08/32   115,000    88,998 
3 mo. USD Term SOFR + 1.250% 2.580% VRN 4/22/32   510,000    402,301 
3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30   230,000    192,341 
Lloyds Banking Group PLC          
1 yr. CMT + 0.850% 1.627% VRN 5/11/27   515,000    456,768 
3 mo. USD LIBOR + 1.205% 3.574% VRN 11/07/28   720,000    643,126 
1 yr. CMT + 3.500% 3.870% VRN 7/09/25   220,000    215,717 
1 yr. CMT + 2.300% 4.976% VRN 8/11/33   225,000    199,671 
Macquarie Group Ltd.          
Secured Overnight Financing Rate + 1.532% 2.871% VRN 1/14/33 (b)   780,000    589,522 
Secured Overnight Financing Rate + 2.405% 4.442% VRN 6/21/33 (b)   240,000    204,441 
Morgan Stanley          
Secured Overnight Financing Rate + 0.560% 1.164% VRN 10/21/25   1,300,000    1,227,160 
Secured Overnight Financing Rate + 0.879% 1.593% VRN 5/04/27   340,000    302,627 
Secured Overnight Financing Rate + 1.020% 1.928% VRN 4/28/32   295,000    219,126 
Secured Overnight Financing Rate + 1.178% 2.239% VRN 7/21/32   145,000    109,284 
Secured Overnight Financing Rate + 1.360% 2.484% VRN 9/16/36   495,000    359,562 
NatWest Group PLC 3 mo. USD LIBOR + 1.762%          
4.269% VRN 3/22/25   185,000    183,018 
PNC Financial Services Group, Inc.          
Secured Overnight Financing Rate + 1.933% 5.068% VRN 1/24/34   655,000    593,986 
Secured Overnight Financing Rate + 1.841% 5.582% VRN 6/12/29   165,000    160,069 
Secured Overnight Financing Rate Index + 2.140% 6.037% VRN 10/28/33   115,000    111,604 
Santander UK Group Holdings PLC          
Secured Overnight Financing Rate + 0.787% 1.089% VRN 3/15/25   540,000    525,415 
1 yr. CMT + 1.250% 1.532% VRN 8/21/26   710,000    643,581 
Secured Overnight Financing Rate + 0.989% 1.673% VRN 6/14/27   120,000    104,964 
Secured Overnight Financing Rate + 1.220% 2.469% VRN 1/11/28   200,000    174,061 
Santander UK PLC          
5.000% 11/07/23 (b)   435,000    433,917 
UBS Group AG          
Secured Overnight Financing Rate Index + 0.980% 1.305% VRN 2/02/27 (b)   610,000    540,953 
1 yr. CMT + 0.850% 1.494% VRN 8/10/27 (b)   65,000    56,736 
Secured Overnight Financing Rate + 1.560% 2.593% VRN 9/11/25 (b)   55,000    52,936 
Secured Overnight Financing Rate + 1.730% 3.091% VRN 5/14/32 (b)   860,000    679,270 
3 mo. USD LIBOR + 1.410% 3.869% VRN 1/12/29 (b)   65,000    58,876 
Secured Overnight Financing Rate + 3.340% 6.373% VRN 7/15/26 (b)   180,000    179,322 
Secured Overnight Financing Rate + 3.920% 6.537% VRN 8/12/33 (b)   1,795,000    1,774,022 
Secured Overnight Financing Rate + 5.020% 9.016% VRN 11/15/33 (b)   810,000    935,400 
US Bancorp          
Secured Overnight Financing Rate + 1.600% 4.839% VRN 2/01/34   755,000    664,745 
Secured Overnight Financing Rate + 2.260% 5.836% VRN 6/12/34   190,000    179,198 
Secured Overnight Financing Rate + 2.090% 5.850% VRN 10/21/33   140,000    132,527 
Wells Fargo & Co.          
Secured Overnight Financing Rate + 2.100% 2.393% VRN 6/02/28   1,120,000    982,205 
3 mo. USD Term SOFR + 1.432% 2.879% VRN 10/30/30   490,000    407,903 
Secured Overnight Financing Rate + 1.500% 3.350% VRN 3/02/33   925,000    747,718 
Secured Overnight Financing Rate + 1.510% 3.526% VRN 3/24/28   655,000    601,535 

 

 

 

 

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

 

   Principal
Amount
   Value 
Secured Overnight Financing Rate + 2.100% 4.897% VRN 7/25/33  $400,000   $362,000 
3 mo. USD Term SOFR + 4.502% 5.013% VRN 4/04/51   150,000    126,035 
         31,721,724 
Beverages — 0.2%          
Bacardi Ltd.          
4.450% 5/15/25 (b)   485,000    470,628 
Triton Water Holdings, Inc.          
6.250% 4/01/29 (b) (c)   178,000    145,515 
         616,143 
Biotechnology — 0.2%          
Amgen, Inc.          
4.200% 2/22/52   145,000    108,599 
5.250% 3/02/33   315,000    301,127 
5.600% 3/02/43   170,000    158,046 
5.750% 3/02/63   32,000    29,519 
         597,291 
Chemicals — 0.3%          
International Flavors & Fragrances, Inc.          
2.300% 11/01/30 (b)   570,000    428,790 
3.268% 11/15/40 (b)   30,000    18,783 
3.468% 12/01/50 (b)   65,000    37,807 
4.375% 6/01/47   65,000    43,652 
5.000% 9/26/48   385,000    286,904 
SK Invictus Intermediate II Sarl          
5.000% 10/30/29 (b) (c)   32,000    25,646 
Valvoline, Inc.          
3.625% 6/15/31 (b)   200,000    154,951 
         996,533 
Commercial Services — 0.2%          
Adtalem Global Education, Inc.          
5.500% 3/01/28 (b)   37,000    33,887 
Global Payments, Inc.          
4.875% 3/17/31 EUR (d)   100,000    102,922 
5.400% 8/15/32   225,000    210,904 
5.950% 8/15/52   126,000    112,968 
Upbound Group, Inc.          
6.375% 2/15/29 (b) (c)   35,000    31,063 
WASH Multifamily Acquisition, Inc.          
5.750% 4/15/26 (b)   35,000    32,681 
         524,425 
Computers — 0.1%          
NCR Corp.          
5.250% 10/01/30 (b)   235,000    202,519 
Diversified Financial Services — 1.1%          
AerCap Ireland Capital DAC/AerCap Global Aviation Trust          
3.300% 1/30/32   615,000    488,871 
3.500% 1/15/25   1,000,000    964,655 
Air Lease Corp.          
5.850% 12/15/27   355,000    350,194 

 

 

 

 

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

 

   Principal
Amount
   Value 
American Express Co.          
2.550% 3/04/27  $310,000   $279,502 
Avolon Holdings Funding Ltd.          
2.528% 11/18/27 (b)   389,000    328,375 
2.875% 2/15/25 (b)   335,000    316,273 
3.950% 7/01/24 (b)   130,000    127,243 
Capital One Financial Corp. Secured Overnight Financing Rate + 1.790%          
3.273% VRN 3/01/30   535,000    447,527 
Park Aerospace Holdings Ltd.          
5.500% 2/15/24 (b)   82,000    81,591 
         3,384,231 
Electric — 1.5%          
Arizona Public Service Co.          
6.350% 12/15/32   675,000    689,907 
Duke Energy Carolinas LLC          
4.000% 9/30/42   1,000,000    766,569 
Florida Power & Light Co.          
3.990% 3/01/49   495,000    371,899 
Jersey Central Power & Light Co.          
4.700% 4/01/24 (b)   800,000    792,620 
6.400% 5/15/36   425,000    413,582 
MidAmerican Energy Co.          
4.800% 9/15/43   1,400,000    1,194,190 
Southwestern Electric Power Co.          
3.250% 11/01/51   170,000    102,100 
TenneT Holding BV          
2.750% 5/17/42 EUR (b) (d)   190,000    168,832 
4.500% 10/28/34 EUR (b) (d)   245,000    272,422 
4.750% 10/28/42 EUR (b) (d)   100,000    111,198 
         4,883,319 
Engineering & Construction — 0.1%          
Artera Services LLC          
9.033% 12/04/25 (b)   95,000    87,638 
Cellnex Finance Co. SA          
2.000% 9/15/32 EUR (b) (d)   100,000    82,418 
         170,056 
Entertainment — 0.5%          
Warnermedia Holdings, Inc.          
4.279% 3/15/32   190,000    161,276 
5.050% 3/15/42   905,000    699,916 
5.141% 3/15/52   910,000    676,167 
         1,537,359 
Environmental Controls — 0.1%          
Waste Pro USA, Inc.          
5.500% 2/15/26 (b)   175,000    163,411 
Food — 0.8%          
JBS USA LUX SA/JBS USA Food Co./JBS Luxembourg Sarl          
6.750% 3/15/34 (b)   640,000    622,714 
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.          
4.375% 2/02/52   135,000    89,718 
5.750% 4/01/33   320,000    292,660 

 

 

 

 

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

 

   Principal
Amount
   Value 
6.500% 12/01/52  $415,000   $371,548 
Pilgrim's Pride Corp.          
3.500% 3/01/32   403,000    311,641 
5.875% 9/30/27 (b)   30,000    30,436 
6.250% 7/01/33   45,000    42,290 
Post Holdings, Inc.          
5.750% 3/01/27 (b)   150,000    144,072 
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed          
4.625% 3/01/29 (b)   150,000    123,049 
Smithfield Foods, Inc.          
2.625% 9/13/31 (b)   635,000    455,300 
         2,483,428 
Gas — 0.3%          
KeySpan Gas East Corp.          
5.994% 3/06/33 (b)   630,000    607,970 
National Gas Transmission PLC          
4.250% 4/05/30 EUR (b) (d)   100,000    103,968 
Piedmont Natural Gas Co., Inc.          
5.400% 6/15/33   155,000    147,777 
         859,715 
Health Care – Products — 0.2%          
Medtronic Global Holdings SCA          
3.375% 10/15/34 EUR (d)   100,000    97,927 
Revvity, Inc.          
2.250% 9/15/31   800,000    608,022 
         705,949 
Health Care – Services — 1.3%          
Centene Corp.          
2.450% 7/15/28   488,000    412,284 
3.000% 10/15/30   453,000    365,394 
4.250% 12/15/27   230,000    212,039 
CommonSpirit Health          
2.782% 10/01/30   290,000    238,702 
Fortrea Holdings, Inc.          
7.500% 7/01/30 (b)   50,000    48,651 
Fresenius Medical Care US Finance III, Inc.          
1.875% 12/01/26 (b)   340,000    296,514 
HCA, Inc.          
2.375% 7/15/31   90,000    68,885 
3.500% 7/15/51   182,000    113,657 
5.000% 3/15/24   287,000    285,517 
5.250% 6/15/49   775,000    636,653 
5.500% 6/15/47   310,000    264,604 
Kedrion SpA          
6.500% 9/01/29 (b)   250,000    214,375 
ModivCare Escrow Issuer, Inc.          
5.000% 10/01/29 (b) (c)   300,000    215,250 
ModivCare, Inc.          
5.875% 11/15/25 (b)   75,000    71,292 
Molina Healthcare, Inc.          
4.375% 6/15/28 (b)   300,000    268,814 

 

 

 

 

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

 

   Principal
Amount
   Value 
Universal Health Services, Inc.          
1.650% 9/01/26  $385,000   $339,363 
         4,051,994 
Household Products & Wares — 0.0%          
Central Garden & Pet Co.          
5.125% 2/01/28   123,000    114,710 
Insurance — 1.0%          
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer          
6.750% 10/15/27 (b) (c)   35,000    32,550 
Aon Corp./Aon Global Holdings PLC          
3.900% 2/28/52   190,000    135,790 
Arthur J Gallagher & Co.          
5.750% 3/02/53   310,000    283,958 
Athene Global Funding          
1.985% 8/19/28 (b)   555,000    452,575 
3.205% 3/08/27 (b)   135,000    120,935 
Secured Overnight Financing Rate Index + 0.700% 6.043% FRN 5/24/24 (b)   505,000    502,923 
Farmers Exchange Capital III 3 mo. USD LIBOR + 3.454%          
5.454% VRN 10/15/54 (b)   970,000    825,640 
Metropolitan Life Global Funding I          
5.150% 3/28/33 (b)   210,000    198,860 
Teachers Insurance & Annuity Association of America          
3.300% 5/15/50 (b)   225,000    142,241 
4.270% 5/15/47 (b)   130,000    99,067 
Willis North America, Inc.          
2.950% 9/15/29   290,000    247,164 
         3,041,703 
Internet — 0.1%          
Netflix, Inc.          
4.625% 5/15/29 EUR (d)   150,000    159,904 
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.          
4.750% 4/30/27 (b)   33,000    29,370 
Tencent Holdings Ltd.          
3.680% 4/22/41 (b)   335,000    231,459 
         420,733 
Machinery – Diversified — 0.0%          
OT Merger Corp.          
7.875% 10/15/29 (b)   90,000    55,073 
Media — 0.9%          
Cable One, Inc.          
4.000% 11/15/30 (b) (c)   75,000    57,135 
Charter Communications Operating LLC/Charter Communications Operating Capital          
3.750% 2/15/28   92,000    82,957 
4.800% 3/01/50   330,000    230,758 
4.908% 7/23/25   205,000    200,316 
5.250% 4/01/53 (c)   265,000    198,088 
5.375% 5/01/47   95,000    72,392 
5.750% 4/01/48   280,000    223,569 
Cox Communications, Inc.          
2.600% 6/15/31 (b)   385,000    299,915 

 

 

 

 

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

 

   Principal
Amount
   Value 
CSC Holdings LLC          
5.750% 1/15/30 (b)  $100,000   $56,030 
6.500% 2/01/29 (b)   553,000    458,125 
7.500% 4/01/28 (b) (c)   32,000    20,778 
Diamond Sports Group LLC/Diamond Sports Finance Co.          
5.375% 8/15/26 (b)   422,000    8,440 
Time Warner Cable LLC          
5.500% 9/01/41   535,000    418,495 
5.875% 11/15/40   170,000    140,854 
VZ Secured Financing BV          
5.000% 1/15/32 (b)   420,000    329,933 
         2,797,785 
Oil & Gas — 0.3%          
KazMunayGas National Co. JSC          
4.750% 4/19/27 (b)   200,000    187,095 
Pertamina Persero PT          
3.100% 8/27/30 (b)   200,000    166,600 
Petroleos Mexicanos          
5.950% 1/28/31   50,000    35,787 
6.625% 6/15/35   900,000    602,821 
7.690% 1/23/50   115,000    73,873 
Shell International Finance BV          
3.750% 9/12/46   25,000    18,454 
         1,084,630 
Oil & Gas Services — 0.0%          
Archrock Partners LP/Archrock Partners Finance Corp.          
6.250% 4/01/28 (b)   35,000    32,586 
Packaging & Containers — 0.6%          
Amcor Finance USA, Inc.          
3.625% 4/28/26   650,000    613,719 
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.          
5.250% 8/15/27 (b)   190,000    158,554 
5.250% 8/15/27 (b) (c)   100,000    83,450 
Berry Global, Inc.          
1.570% 1/15/26   394,000    356,150 
1.650% 1/15/27   12,000    10,314 
4.875% 7/15/26 (b)   330,000    315,866 
Trivium Packaging Finance BV          
5.500% 8/15/26 (b)   320,000    298,379 
         1,836,432 
Pharmaceuticals — 0.7%          
1375209 BC Ltd.          
9.000% 1/30/28 (b) (c)   30,000    29,654 
Bayer US Finance II LLC          
4.375% 12/15/28 (b)   893,000    830,066 
4.625% 6/25/38 (b)   795,000    652,563 
4.875% 6/25/48 (b)   210,000    167,473 
Cigna Group          
3.400% 3/15/51   250,000    163,645 
CVS Health Corp.          
5.050% 3/25/48   195,000    162,015 

 

 

 

 

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

 

   Principal
Amount
   Value 
Grifols SA          
4.750% 10/15/28 (b) (c)  $101,000   $86,114 
         2,091,530 
Pipelines — 0.7%          
Energy Transfer LP          
4.950% 6/15/28   125,000    119,627 
5.000% 5/15/50   305,000    239,256 
5.150% 3/15/45   400,000    322,286 
5.350% 5/15/45   50,000    41,000 
5.400% 10/01/47   394,000    324,951 
Galaxy Pipeline Assets Bidco Ltd.          
2.160% 3/31/34 (b)   177,420    147,811 
Plains All American Pipeline LP/PAA Finance Corp.          
3.800% 9/15/30   300,000    257,684 
Rockies Express Pipeline LLC          
4.800% 5/15/30 (b)   250,000    215,713 
4.950% 7/15/29 (b)   200,000    178,139 
TransCanada PipeLines Ltd.          
4.625% 3/01/34   35,000    30,488 
TransMontaigne Partners LP/TLP Finance Corp.          
6.125% 2/15/26   181,000    154,529 
Venture Global Calcasieu Pass LLC          
3.875% 8/15/29 (b)   365,000    307,140 
         2,338,624 
Real Estate — 0.2%          
Annington Funding PLC          
3.184% 7/12/29 GBP (b) (d)   200,000    202,795 
3.685% 7/12/34 GBP (b) (d)   100,000    93,131 
Blackstone Property Partners Europe Holdings Sarl          
1.625% 4/20/30 EUR (b) (d)   200,000    156,636 
1.750% 3/12/29 EUR (b) (d)   200,000    165,590 
Vonovia Finance BV          
2.250% 4/07/30 EUR (b) (d)   100,000    89,000 
Vonovia SE          
1.500% 6/14/41 EUR (b) (d)   100,000    57,614 
         764,766 
Real Estate Investment Trusts (REITS) — 2.0%          
American Homes 4 Rent LP          
3.375% 7/15/51   205,000    123,036 
4.300% 4/15/52   160,000    115,726 
American Tower Corp.          
1.000% 1/15/32 EUR (d)   100,000    79,004 
2.700% 4/15/31   80,000    63,445 
5.550% 7/15/33   345,000    328,738 
5.650% 3/15/33   475,000    456,602 
CapitaLand Ascendas REIT          
0.750% 6/23/28 EUR (b) (d)   185,000    157,951 
CubeSmart LP          
2.500% 2/15/32   360,000    273,870 
Digital Intrepid Holding BV          
0.625% 7/15/31 EUR (b) (d)   425,000    320,360 
Extra Space Storage LP          
2.350% 3/15/32   275,000    207,872 

 

 

 

 

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

 

   Principal
Amount
   Value 
2.400% 10/15/31  $76,000   $58,183 
2.550% 6/01/31   130,000    101,204 
GLP Capital LP/GLP Financing II, Inc.          
3.250% 1/15/32   317,000    246,020 
4.000% 1/15/30   37,000    31,378 
4.000% 1/15/31   75,000    62,439 
5.375% 4/15/26   540,000    523,575 
Healthcare Realty Holdings LP          
2.000% 3/15/31   200,000    149,893 
2.050% 3/15/31   67,000    48,411 
2.400% 3/15/30   195,000    150,539 
3.100% 2/15/30   190,000    158,202 
3.625% 1/15/28   45,000    40,065 
Hudson Pacific Properties LP          
3.250% 1/15/30   185,000    125,882 
3.950% 11/01/27   85,000    67,097 
4.650% 4/01/29   90,000    67,756 
5.950% 2/15/28 (c)   260,000    217,056 
Invitation Homes Operating Partnership LP          
2.000% 8/15/31   405,000    299,717 
LXP Industrial Trust          
2.375% 10/01/31   430,000    315,136 
Physicians Realty LP          
2.625% 11/01/31   190,000    143,101 
4.300% 3/15/27   45,000    42,295 
Prologis Euro Finance LLC          
4.250% 1/31/43 EUR (d)   310,000    283,839 
Realty Income Corp.          
5.125% 7/06/34 EUR (d)   150,000    157,201 
Rexford Industrial Realty LP          
2.150% 9/01/31   5,000    3,728 
VICI Properties LP          
4.950% 2/15/30   10,000    9,150 
5.125% 5/15/32   482,000    431,425 
5.625% 5/15/52   109,000    90,262 
VICI Properties LP/VICI Note Co., Inc.          
3.750% 2/15/27 (b)   10,000    9,074 
3.875% 2/15/29 (b)   160,000    138,258 
4.125% 8/15/30 (b)   69,000    58,676 
4.500% 9/01/26 (b)   100,000    93,946 
4.500% 1/15/28 (b)   58,000    52,930 
4.625% 6/15/25 (b)   25,000    24,142 
5.750% 2/01/27 (b)   40,000    38,723 
         6,365,907 
Retail — 0.1%          
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.          
6.750% 1/15/30 (b) (c)   82,000    66,838 
Michaels Cos., Inc.          
5.250% 5/01/28 (b) (c)   170,000    135,677 
         202,515 
Savings & Loans — 0.1%          
Nationwide Building Society Secured Overnight Financing Rate + 1.290%          
2.972% VRN 2/16/28 (b)   340,000    304,082 

 

 

 

 

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

 

   Principal
Amount
   Value 
Semiconductors — 0.1%          
Broadcom, Inc.          
2.600% 2/15/33 (b)  $176,000   $131,240 
3.419% 4/15/33 (b)   208,000    166,370 
         297,610 
Software — 0.6%          
Fiserv, Inc.          
5.600% 3/02/33   545,000    528,206 
5.625% 8/21/33   90,000    87,205 
Open Text Corp.          
6.900% 12/01/27 (b)   50,000    50,114 
Oracle Corp.          
2.800% 4/01/27   140,000    127,116 
3.950% 3/25/51   1,208,000    828,138 
6.500% 4/15/38   210,000    211,571 
6.900% 11/09/52   140,000    144,218 
         1,976,568 
Telecommunications — 0.6%          
AT&T, Inc.          
4.750% 5/15/46   455,000    359,425 
5.250% 3/01/37   270,000    245,188 
Frontier Communications Holdings LLC          
8.625% 3/15/31 (b)   321,000    302,404 
8.750% 5/15/30 (b)   75,000    71,211 
Intelsat Jackson Holdings SA, Escrow          
8.500% 10/15/24 (b) (e) (f)   171,000     
9.750% 7/15/25 (b) (e) (f)   585,000     
Intelsat Jackson Holdings SA          
6.500% 3/15/30 (b)   417,000    369,814 
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC          
4.738% 9/20/29 (b)   260,625    257,860 
T-Mobile USA, Inc.          
3.750% 4/15/27   375,000    350,407 
         1,956,309 
Water — 0.0%          
Thames Water Utilities Finance PLC          
4.375% 1/18/31 EUR (b) (d)   160,000    149,414 
           
TOTAL CORPORATE DEBT
(Cost $92,475,939)
        81,857,902 
           
MUNICIPAL OBLIGATIONS — 0.8%          
California State University, Revenue Bond, Revenue Bond          
2.374% 11/01/35   5,000    3,619 
City of New York NY, General Obligation          
5.968% 3/01/36   500,000    516,075 
Jersey City Municipal Utilities Authority, Revenue Bond          
5.470% 5/15/27   520,000    522,110 
New York City Transitional Finance Authority Future Tax Secured Revenue          
Revenue Bond, 2.450% 11/01/34   560,000    414,877 
Revenue Bond, 5.508% 8/01/37   45,000    44,208 

 

 

 

 

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

 

   Principal
Amount
   Value 
New York State Dormitory Authority, Revenue Bond          
5.289% 3/15/33  $750,000   $738,107 
University of California, Revenue Bond          
2.247% 5/15/34   290,000    214,740 
         2,453,736 
           
TOTAL MUNICIPAL OBLIGATIONS
(Cost $2,850,191)
        2,453,736 
           
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 18.1%          
Commercial Mortgage-Backed Securities — 4.0%          
BAMLL Commercial Mortgage Securities Trust, Series 2018-PARK, Class A,          
4.227% VRN 8/10/38 (b) (g)   620,000    542,878 
BX Commercial Mortgage Trust          
Series 2020-VIV4, Class A, 2.843% 3/09/44 (b)   1,160,000    942,554 
Series 2020-VIVA, Class D, 3.667% VRN 3/11/44 (b) (g)   780,000    615,755 
Series 2019-XL, Class A, 1 mo. USD Term SOFR + 1.034% 6.367% FRN 10/15/36 (b)   977,903    975,153 
Series 2022-CSMO, Class A, 1 mo. USD Term SOFR + 2.115% 7.447% FRN 6/15/27 (b)   692,000    692,432 
BX Trust          
Series 2019-OC11, Class A, 3.202% 12/09/41 (b)   180,000    151,443 
Series 2019-OC11, Class E, 4.076% VRN 12/09/41 (b) (g)   300,000    239,091 
Series 2022-VAMF, Class C, 1 mo. USD Term SOFR + 1.580% 6.912% FRN 1/15/39 (b)   443,000    431,923 
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, 1 mo. USD Term SOFR + 3.188%          
8.521% FRN 3/15/35 (b)   894,000    882,263 
Century Plaza Towers, Series 2019-CPT, Class A          
2.865% 11/13/39 (b)   355,000    282,253 
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class F, 1 mo. USD Term SOFR + 2.697%          
8.030% FRN 5/15/36 (b)   897,766    884,637 
DC Office Trust, Series 2019-MTC, Class A          
2.965% 9/15/45 (b)   375,000    294,524 
Grace Trust, Series 2020-GRCE, Class A          
2.347% 12/10/40 (b)   900,000    685,960 
GS Mortgage Securities Corp. Trust, Series 2021-ARDN, Class A, 1 mo. USD Term SOFR + 1.364%          
6.697% FRN 11/15/36 (b)   1,570,000    1,533,844 
Hudson Yards Mortgage Trust          
Series 2019-55HY, Class A, 3.041% VRN 12/10/41 (b) (g)   375,000    308,822 
Series 2019-30HY, Class A, 3.228% 7/10/39 (b)   385,000    325,378 
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-OSB, Class A          
3.397% 6/05/39 (b)   385,000    326,225 
MKT Mortgage Trust, Series 2020-525M, Class A          
2.694% 2/12/40 (b)   255,000    183,683 
One Bryant Park Trust, Series 2019-OBP, Class A          
2.516% 9/15/54 (b)   490,000    389,284 
RBS Commercial Funding, Inc. Trust, Series 2013-GSP, Class A,          
3.961% VRN 1/15/32 (b) (g)   670,000    659,792 
SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class A1,          
3.872% VRN 1/05/43 (b) (g)   655,000    432,451 
SMRT Commercial Mortgage Trust, Series 2022-MINI, Class F, 1 mo. USD Term SOFR + 3.350%          
8.683% FRN 1/15/39 (b)   630,000    582,032 

 

 

 

 

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

 

   Principal
Amount
   Value 
Wells Fargo Commercial Mortgage Trust, Series 2019-JWDR, Class E,          
3.989% VRN 9/15/31 (b) (g)  $281,000   $251,065 
         12,613,442 
Home Equity Asset-Backed Securities — 0.5%          
Aegis Asset-Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-4, Class M2, 1 mo. USD Term SOFR + 0.819%          
6.139% FRN 10/25/35   683,073    611,343 
Citigroup Mortgage Loan Trust, Series 2006-HE2, Class M1, 1 mo. USD Term SOFR + 0.549%          
5.869% FRN 8/25/36   184,350    183,387 
Morgan Stanley Capital I, Inc. Trust, Series 2006-HE1, Class A4, 1 mo. USD Term SOFR + 0.694%          
6.014% FRN 1/25/36   820,219    772,853 
         1,567,583 
Other Asset-Backed Securities — 5.8%          
AIMCO CLO, Series 2015-AA, Class BR2, 3 mo. USD Term SOFR + 1.862%          
7.170% FRN 10/17/34 (b)   1,100,000    1,078,463 
AIMCO CLO Ltd., Series 2020-11A, Class AR, 3 mo. USD Term SOFR + 1.392%          
6.700% FRN 10/17/34 (b)   750,000    745,409 
Allegro CLO XII Ltd., Series 2020-1A, Class A1, 3 mo. USD Term SOFR + 1.512%          
6.845% FRN 1/21/32 (b)   850,000    849,961 
Cedar Funding XIV CLO Ltd., Series 2021-14A, Class A, 3 mo. USD Term SOFR + 1.362%          
6.670% FRN 7/15/33 (b)   800,000    793,893 
Countrywide Asset-Backed Certificates Trust, Series 2004-7, Class MF2,          
4.198% VRN 10/25/34 (g)   1,634,150    1,494,197 
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR, 3 mo. USD Term SOFR + 1.162%          
6.470% FRN 4/15/29 (b)   759,775    755,654 
Eaton Vance CLO Ltd., Series 2020-1A, Class AR, 3 mo. USD Term SOFR + 1.432%          
6.740% FRN 10/15/34 (b)   990,000    978,329 
First Franklin Mortgage Loan Trust, Series 2006-FFH1, Class M1, 1 mo. USD Term SOFR + 0.669%          
5.989% FRN 1/25/36   712,728    662,485 
FirstKey Homes Trust, Series 2020-SFR2, Class E          
2.668% 10/19/37 (b)   390,000    356,359 
Flatiron CLO Ltd., Series 2021-1A, Class B, 3 mo. USD LIBOR + 1.600%          
7.182% FRN 7/19/34 (b)   850,000    836,261 
GSAMP Trust, Series 2005-HE5, Class M3, 1 mo. USD Term SOFR + 0.804%          
6.124% FRN 11/25/35   272,633    265,571 
HPS Loan Management Ltd., Series 2021-16A, Class A1, 3 mo. USD Term SOFR + 1.402%          
6.747% FRN 1/23/35 (b)   1,000,000    987,874 
JP Morgan Mortgage Acquisition Trust,          
4.275% STEP 3/25/47   2,647,691    1,665,775 
Long Beach Mortgage Loan Trust, Series 2006-9, Class 2A2, 1 mo. USD Term SOFR + 0.334%          
5.654% FRN 10/25/36   5,911,041    1,728,389 
Magnetite VII Ltd., Series 2012-7A, Class A1R2, 3 mo. USD Term SOFR + 1.062%          
6.370% FRN 1/15/28 (b)   637,731    635,069 

 

 

 

 

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

 

   Principal
Amount
   Value 
Progress Residential Trust          
Series 2020-SFR3, Class E, 2.296% 10/17/27 (b)  $590,000   $535,131 
Series 2020-SFR3, Class F, 2.796% 10/17/27 (b)   360,000    329,209 
Series 2021-SFR2, Class F, 3.395% 4/19/38 (b)   1,150,000    1,010,891 
Series 2021-SFR10, Class F, 4.608% 12/17/40 (b)   476,677    403,516 
Rockford Tower CLO Ltd., Series 2021-1A, Class A1, 3 mo. USD Term SOFR + 1.432%          
6.758% FRN 7/20/34 (b)   850,000    839,011 
Saxon Asset Securities Trust, Series 2007-2, Class A2C, 1 mo. USD Term SOFR + 0.354%          
5.674% FRN 5/25/47   1,486,490    972,325 
Vantage Data Centers Issuer LLC, Series 2020-1A, Class A2          
1.645% 9/15/45 (b)   444,000    399,816 
         18,323,588 
Student Loans Asset-Backed Securities — 1.7%          
Access Group, Inc., Series 2015-1, Class A, 1 mo. USD LIBOR + 0.700%          
6.134% FRN 7/25/56 (b)   288,467    276,303 
Collegiate Funding Services Education Loan Trust, Series 2005-A, Class A4, 3 mo. USD LIBOR + 0.200%          
5.720% FRN 3/28/35   947,258    897,232 
Nelnet Student Loan Trust, Series 2015-1A, Class A, 30 day USD SOFR Average + 0.704%          
6.019% FRN 4/25/46 (b)   527,501    518,481 
SLM Student Loan Trust          
Series 2007-7, Class A4, 90 day USD SOFR Average + 0.592% 5.646% FRN 1/25/22   458,040    446,384 
Series 2012-7, Class A3, 30 day USD SOFR Average + 0.764% 6.079% FRN 5/26/26   549,725    528,021 
Series 2012-2, Class A, 30 day USD SOFR Average + 0.814% 6.129% FRN 1/25/29   635,885    612,348 
Series 2012-1, Class A3, 30 day USD SOFR Average + 1.064% 6.379% FRN 9/25/28   532,918    519,453 
Series 2008-6, Class A4, 90 day USD SOFR Average + 1.362% 6.416% FRN 7/25/23   724,342    719,148 
Series 2008-5, Class B, 90 day USD SOFR Average + 2.112% 7.166% FRN 7/25/73   700,000    680,047 
         5,197,417 
Whole Loan Collateral Collateralized Mortgage Obligations — 6.1%          
American Home Mortgage Investment Trust, Series 2005-1, Class 6A, 6 mo. USD SOFR + 2.428%          
7.886% FRN 6/25/45   219,102    212,195 
Angel Oak Mortgage Trust          
Series 2021-7, Class A1, 1.978% VRN 10/25/66 (b) (g)   206,113    168,119 
Series 2022-6,Class A1, 4.300% STEP 7/25/67 (b)   820,505    761,106 
Chase Mortgage Finance Trust, Series 2007-A1, Class 11A4,          
4.099% VRN 3/25/37 (g)   203,979    179,436 
Citigroup Mortgage Loan Trust, Series 2005-11, Class A2A, 1 yr. CMT + 2.400%          
7.780% FRN 10/25/35   151,387    146,781 
COLT Mortgage Loan Trust, Series 2021-6, Class A1,          
1.907% VRN 12/25/66 (b) (g)   708,407    586,214 
Countrywide Alternative Loan Trust          
Series 2006-OA6, Class 1A2, 1 mo. USD Term SOFR + 0.534% 5.854% FRN 7/25/46   763,597    662,675 

 

 

 

 

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

 

   Principal
Amount
   Value 
Series 2005-31, Class 2A1, 1 mo. USD Term SOFR + 0.714% 6.034% FRN 8/25/35  $748,673   $670,218 
Credit Suisse Mortgage Trust, Series 2018-RPL9, Class A,          
3.850% VRN 9/25/57 (b) (g)   738,240    680,354 
Deephaven Residential Mortgage Trust, Series 2021-4, Class A1,          
1.931% VRN 11/25/66 (b) (g)   1,393,534    1,157,647 
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-1, Class 1A3, 1 mo. USD Term SOFR + 0.614%          
5.934% FRN 2/25/35   1,226,898    1,162,607 
First Horizon Mortgage Pass-Through Trust, Series 2005-AR5, Class 2A1,          
4.302% VRN 11/25/35 (g)   197,635    155,694 
GS Mortgage-Backed Securities Corp. Trust, Series 2021-RPL1, Class A1,          
1.750% VRN 12/25/60 (b) (g)   1,513,453    1,349,831 
GS Mortgage-Backed Securities Trust          
Series 2022-PJ6 , Class A4, 3.000% VRN 1/25/53 (b) (g)   1,900,630    1,495,484 
Series 2018-RPL1, Class A1A, 3.750% 10/25/57 (b)   579,766    548,955 
HarborView Mortgage Loan Trust, Series 2006-10, Class 1A1A, 1 mo. USD Term SOFR + 0.314%          
5.642% FRN 11/19/36   1,550,675    1,100,973 
Impac CMB Trust, Series 2005-1, Class 1A1, 1 mo. USD Term SOFR + 0.634%          
5.954% FRN 4/25/35   367,463    338,820 
IndyMac Index Mortgage Loan Trust          
Series 2005-AR19, Class A1, 3.498% VRN 10/25/35 (g)   619,427    451,808 
Series 2006-AR27, Class 1A3, 1 mo. USD Term SOFR + 0.654% 5.974% FRN 10/25/36   1,208,020    508,284 
JP Morgan Mortgage Trust, Series 2021-13, Class A3,          
2.500% VRN 4/25/52 (b) (g)   1,626,308    1,227,291 
MASTR Adjustable Rate Mortgages Trust, Series 2007-1, Class I2A3, 1 yr. MTA + 0.740%          
5.366% FRN 1/25/47   409,121    399,873 
Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2005-AR1, Class M1, 1 mo. USD Term SOFR + 1.184%          
6.504% FRN 2/25/35   478,626    459,518 
Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates, Series 2005-4 , Class M2, 1 mo. USD Term SOFR + 0.864%          
6.184% FRN 11/25/35   1,450,000    1,360,337 
Structured Asset Mortgage Investments II Trust, Series 2006-AR8, Class A2, 1 mo. USD Term SOFR + 0.534%          
5.854% FRN 10/25/36   1,568,508    1,288,189 
Washington Mutual Mortgage Pass-Through Certificates Trust          
Series 2006-1 Class 3A2, 5.750% 2/25/36   421,383    364,096 
Series 2005-AR15, Class A1A1, 1 mo. USD Term SOFR + 0.634% 5.954% FRN 11/25/45   1,547,414    1,385,783 
Series 2005-AR13, Class A1A1, 1 mo. USD Term SOFR + 0.694% 6.014% FRN 10/25/45   290,117    264,534 
Series 2005-AR2, Class 2A21, 1 mo. USD Term SOFR + 0.774% 6.094% FRN 1/25/45   237,676    228,403 
         19,315,225 
           
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS
(Cost $60,722,127)
        57,017,255 
           
SOVEREIGN DEBT OBLIGATIONS — 0.8%          
Brazilian Government International Bond          
3.875% 6/12/30 (c)   200,000    174,070 
Chile Government International Bond          
2.550% 1/27/32 (c)   224,000    180,876 

 

 

 

 

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

 

   Principal
Amount
   Value 
Colombia Government International Bond          
4.500% 3/15/29  $200,000   $173,563 
Dominican Republic International Bond          
4.500% 1/30/30 (b)   200,000    169,239 
Hungary Government International Bond          
2.125% 9/22/31 (b)   200,000    147,226 
Mexico Government International Bond          
4.875% 5/19/33 (c)   300,000    268,818 
Panama Government International Bond          
2.252% 9/29/32   200,000    144,552 
3.160% 1/23/30   200,000    167,892 
Paraguay Government International Bond          
4.950% 4/28/31 (b)   200,000    184,436 
Perusahaan Penerbit SBSN Indonesia III          
2.550% 6/09/31 (b)   200,000    162,756 
Peruvian Government International Bond          
2.783% 1/23/31   200,000    163,418 
Poland Government International Bond          
4.875% 10/04/33   100,000    93,000 
5.750% 11/16/32   17,000    17,018 
Romania Government International Bond          
3.000% 2/14/31 (b)   110,000    88,394 
South Africa Government International Bond          
5.875% 4/20/32   250,000    212,500 
         2,347,758 
           
TOTAL SOVEREIGN DEBT OBLIGATIONS
(Cost $2,709,179)
        2,347,758 
           
U.S. Government Agency Obligations and Instrumentalities (h) — 36.2%          
Collateralized Mortgage Obligations — 0.7%          
Federal Home Loan Mortgage Corp. REMICS          
Series 4818, Class CA, 3.000% 4/15/48   137,395    117,513 
Series 4639, Class HZ, 3.250% STEP 4/15/53   1,653,331    1,205,839 
Series 4846, Class PA, 4.000% 6/15/47   47,426    46,288 
Federal National Mortgage Association REMICS          
Series 2018-43, Class CT, 3.000% 6/25/48   244,316    208,664 
Series 2018-57, Class QA, 3.500% 5/25/46   57,916    56,481 
Series 2018-55, Class PA, 3.500% 1/25/47   66,228    63,220 
Government National Mortgage Association REMICS          
Series 2018-124, Class NW, 3.500% 9/20/48   243,028    214,690 
Series 2019-15, Class GT, 3.500% 2/20/49   147,365    130,038 
         2,042,733 
Pass-Through Securities — 35.2%          
Federal Home Loan Mortgage Corp.          
Pool #QE0312 2.000% 4/01/52   1,166,076    887,334 
Pool #SD8194 2.500% 2/01/52   1,556,707    1,237,328 
Pool #RA6815 2.500% 2/01/52   2,125,712    1,700,223 
Pool #SD8205 2.500% 4/01/52   1,682,309    1,336,110 
Pool #SD8212 2.500% 5/01/52   1,635,775    1,299,152 
Pool #G18592 3.000% 3/01/31   142,971    134,516 
Pool #G18627 3.000% 1/01/32   469,895    440,273 
Pool #G08710 3.000% 6/01/46   92,690    78,496 
Pool #ZM1779 3.000% 9/01/46   471,243    397,926 
Pool #G08726 3.000% 10/01/46   695,713    588,304 

 

 

 

 

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

 

   Principal
Amount
   Value 
Pool #G08732 3.000% 11/01/46  $253,689   $214,523 
Pool #G08741 3.000% 1/01/47   702,146    593,744 
Pool #QD8259 3.000% 3/01/52   1,835,149    1,519,523 
Pool #G07848 3.500% 4/01/44   1,116,643    994,222 
Pool #G60023 3.500% 4/01/45   1,019,419    902,493 
Pool #G08711 3.500% 6/01/46   303,114    266,642 
Pool #G08716 3.500% 8/01/46   424,193    373,153 
Pool #G67700 3.500% 8/01/46   510,814    450,628 
Pool #G08722 3.500% 9/01/46   75,058    66,027 
Pool #G08742 3.500% 1/01/47   346,359    303,709 
Pool #G08757 3.500% 4/01/47   88,618    77,567 
Pool #ZA5103 3.500% 12/01/47   3,373    2,947 
Pool #G67707 3.500% 1/01/48   1,852,478    1,636,528 
Pool #G08800 3.500% 2/01/48   30,809    26,948 
Pool #G08816 3.500% 6/01/48   250,130    218,705 
Pool #G61556 3.500% 8/01/48   437,655    384,311 
Pool #G60344 4.000% 12/01/45   547,526    498,804 
Pool #G67711 4.000% 3/01/48   597,681    544,123 
Pool #G67713 4.000% 6/01/48   2,498    2,272 
Pool #RA7921 4.000% 9/01/52 (i)   1,691,876    1,509,334 
Pool #G08843 4.500% 10/01/48   114,777    107,310 
Pool #SD2730 4.500% 4/01/53 (i)   1,554,085    1,428,008 
Pool #G08833 5.000% 7/01/48   75,302    72,498 
Pool #G08844 5.000% 10/01/48   67,234    64,688 
Federal National Mortgage Association          
Pool #MA4152 2.000% 10/01/40   762,158    617,125 
Pool #MA4176 2.000% 11/01/40   1,479,243    1,192,669 
Pool #MA4333 2.000% 5/01/41   180,550    144,951 
Pool #MA4158 2.000% 10/01/50   991,797    760,604 
Pool #BQ6913 2.000% 12/01/51   2,208,185    1,683,785 
Pool #MA4492 2.000% 12/01/51   1,692,230    1,288,772 
Pool #BQ7006 2.000% 1/01/52   3,473,528    2,645,377 
Pool #CB2802 2.000% 2/01/52   1,139,760    867,665 
Pool #FS1598 2.000% 4/01/52   1,583,236    1,205,270 
Pool #BL6060 2.455% 4/01/40   570,000    371,251 
Pool #MA4512 2.500% 1/01/52   1,652,933    1,313,812 
Pool #MA4548 2.500% 2/01/52   1,579,781    1,255,668 
Pool #MA4563 2.500% 3/01/52   1,614,187    1,282,007 
Pool #MA1607 3.000% 10/01/33   257,541    232,763 
Pool #MA3811 3.000% 10/01/49   203,248    166,799 
Pool #CB2430 3.000% 12/01/51 (i)   2,776,339    2,296,669 
Pool #BV8477 3.000% 5/01/52   573,218    474,407 
Pool #AB4262 3.500% 1/01/32   220,282    206,725 
Pool #MA1512 3.500% 7/01/33   111,334    103,264 
Pool #MA1148 3.500% 8/01/42   631,506    564,204 
Pool #CA0996 3.500% 1/01/48   120,935    106,047 
Pool #MA3305 3.500% 3/01/48   23,639    20,648 
Pool #BL1132 3.730% 1/01/29   920,000    851,894 
Pool #MA1146 4.000% 8/01/42   260,385    240,628 
Pool #AS9830 4.000% 6/01/47   117,658    106,526 
Pool #MA3027 4.000% 6/01/47   179,314    162,349 
Pool #AS9972 4.000% 7/01/47   108,893    98,590 
Pool #931504 4.500% 7/01/39   37,170    35,654 
Pool #CA1710 4.500% 5/01/48   406,325    379,488 
Pool #CA1711 4.500% 5/01/48   131,339    122,664 
Pool #CA2208 4.500% 8/01/48   227,459    212,364 
Pool #BW9897 4.500% 10/01/52   731,707    672,300 
Pool #AD6374 5.000% 5/01/40   7,853    7,735 

 

 

 

 

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

 

   Principal
Amount
   Value 
Pool #AI2733 5.000% 5/01/41  $81,861   $80,447 
Pool #977014 5.500% 5/01/38   8,439    8,468 
Pool #985524 5.500% 6/01/38   12,576    12,635 
Pool #988578 5.500% 8/01/38   90,134    90,492 
Pool #995482 5.500% 1/01/39   51,749    51,962 
Government National Mortgage Association II          
Pool #MA4126 3.000% 12/20/46   547,986    470,623 
Pool #MA4718 3.000% 9/20/47   59,392    50,952 
Pool #MA4836 3.000% 11/20/47   209,119    179,335 
Pool #MA6209 3.000% 10/20/49   176,980    146,077 
Pool #MA3521 3.500% 3/20/46   212,916    189,477 
Pool #MA3597 3.500% 4/20/46   66,022    58,733 
Pool #MA3663 3.500% 5/20/46   96,908    86,210 
Pool #MA3937 3.500% 9/20/46   79,567    70,783 
Pool #MA4127 3.500% 12/20/46   291,201    258,871 
Pool #MA4262 3.500% 2/20/47   294,330    261,377 
Pool #MA4382 3.500% 4/20/47   75,328    66,894 
Pool #MA4719 3.500% 9/20/47   92,836    82,413 
Pool #MA4837 3.500% 11/20/47   192,140    170,568 
Pool #MA4900 3.500% 12/20/47   692,672    614,687 
Pool #MA4653 4.000% 8/20/47   36,720    33,617 
Pool #MA4838 4.000% 11/20/47   153,484    140,514 
Pool #MA4901 4.000% 12/20/47   67,037    61,309 
Pool #MA5078 4.000% 3/20/48   226,774    207,257 
Pool #MA5466 4.000% 9/20/48   253,101    231,159 
Pool #MA5399 4.500% 8/20/48   459,354    430,674 
Pool #MA3666 5.000% 5/20/46   77,807    76,041 
Pool #MA4199 5.000% 1/20/47   79,282    77,477 
Pool #MA4454 5.000% 5/20/47   123,261    119,871 
Pool #MA4722 5.000% 9/20/47   138,828    134,923 
Government National Mortgage Association II, TBA          
2.500% 10/20/53 (i)   5,225,000    4,269,566 
4.500% 10/20/53 (i)   1,575,000    1,454,771 
5.000% 10/20/53 (i)   800,000    758,310 
5.500% 10/20/53 (i)   2,450,000    2,377,734 
Uniform Mortgage-Backed Security, TBA          
2.000% 10/01/53 (i)   9,700,000    7,373,460 
2.500% 10/01/52 (i)   4,050,000    3,212,312 
3.000% 10/01/53 (i)   6,675,000    5,518,611 
3.500% 10/01/53 (i)   2,500,000    2,149,609 
4.000% 10/01/53 (i)   8,325,000    7,414,450 
4.500% 10/01/52 (i)   6,750,000    6,198,659 
5.000% 10/01/53 (i)   14,325,000    13,517,548 
5.500% 10/01/53 (i)   10,300,000    9,955,599 
         110,713,518 
Whole Loans — 0.3%          
Federal National Mortgage Association Connecticut Avenue Securities, Series 2022-R03, Class 1M2, 30 day USD SOFR Average + 3.500%          
8.815% FRN 3/25/42 (b)   1,000,000    1,035,615 
           
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES
(Cost $122,781,114)
        113,791,866 
           
U.S. TREASURY OBLIGATIONS — 29.8%          
U.S. Treasury Bonds & Notes — 29.8%          
U.S. Treasury Bonds          
3.875% 5/15/43   925,000    803,885 

 

 

 

 

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

 

   Principal
Amount
   Value 
4.125% 8/15/53 (i)  $14,365,000   $13,036,577 
4.375% 8/15/43 (c)   19,450,000    18,143,771 
U.S. Treasury Inflation-Indexed Notes          
1.250% 4/15/28   2,171,659    2,064,625 
1.375% 7/15/33   2,482,961    2,295,624 
U.S. Treasury Notes          
3.875% 8/15/33   3,820,000    3,608,714 
4.375% 8/31/28   7,175,000    7,103,363 
4.625% 9/15/26   11,690,000    11,632,661 
4.625% 9/30/28 (i)   30,175,000    30,193,708 
5.000% 9/30/25 (i)   4,885,000    4,880,525 
         93,763,453 
           
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $96,035,642)
        93,763,453 
           
TOTAL BONDS & NOTES
(Cost $383,483,200)
        357,104,748 
           
   Number of
Shares
    
EQUITIES — 0.1%          
COMMON STOCK — 0.1%          
Communications — 0.1%          
Telecommunications — 0.1%          
Intelsat SA (j)   7,225    154,254 
           
TOTAL COMMON STOCK
(Cost $676,994)
        154,254 
           
TOTAL EQUITIES
(Cost $676,994)
        154,254 
           
RIGHTS — 0.0%          
Communications — 0.0%          
Telecommunications — 0.0%          
Intelsat Jackson Holdings SA (e) (f) (j)   756     
Intelsat Jackson Holdings SA (e) (f) (j)   756     
          
           
TOTAL RIGHTS
(Cost $0)
         
           
TOTAL LONG-TERM INVESTMENTS
(Cost $384,160,194)
        357,259,002 
           
SHORT-TERM INVESTMENTS — 26.6%          
Investment of Cash Collateral from Securities Loaned — 8.9%          
State Street Navigator Securities Lending Government Money Market Portfolio (k)   28,051,718    28,051,718 

 

 

 

 

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

 

   Principal
Amount
   Value 
Repurchase Agreement — 12.3%          
Fixed Income Clearing Corp., Repurchase Agreement, dated 9/29/23, 1.600%, due 10/02/23 (l)  $38,570,974   $38,570,974 
U.S. Treasury Bill — 5.4%          
U.S. Treasury Bills          
5.380% 12/21/23 (m)   4,575,000    4,520,979 
5.438% 11/21/23 (m)   4,945,000    4,908,515 
5.458% 11/28/23 (c) (m)   3,305,000    3,277,122 
5.458% 11/28/23 (m)   4,250,000    4,214,150 
         16,920,766 
           
TOTAL SHORT-TERM INVESTMENTS
(Cost $83,540,633)
        83,543,458 
           
TOTAL INVESTMENTS — 140.3%
(Cost $467,700,827) (n)
        440,802,460 
           
Other Assets/(Liabilities) — (40.3)%        (126,525,190) 
           
NET ASSETS — 100.0%       $314,277,270 

 

Abbreviation Legend

CLO Collateralized Loan Obligation
FRN Floating Rate Note
REMICS Real Estate Mortgage Investment Conduits
STEP Step Up Bond
TBA To Be Announced
VRN Variable Rate Note

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

(a) All or a portion of the security represents unsettled bank loan commitments at September 30, 2023 where the rate will be determined at time of settlement.
(b) Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At September 30, 2023, the aggregate market value of these securities amounted to $59,990,532 or 19.09% of net assets.
(c) Denotes all or a portion of security on loan. The total value of securities on loan as of September 30, 2023, was $27,749,318 or 8.83% of net assets. The Fund received $279,754 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2).
(d) The principal amount of the security is in foreign currency. The market value is in U.S. dollars.
(e) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At September 30, 2023, these securities amounted to a value of $0 or 0.00% of net assets.
(f) Investment is valued using significant unobservable inputs.
(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, 2023.
(h) May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency.
(i) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis.
(j) Non-income producing security.
(k) Represents investment of security lending cash collateral. (Note 2).
(l) Maturity value of $38,576,116. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 1/31/26, and an aggregate market value, including accrued interest, of $39,342,442.
(m) The rate shown represents yield-to-maturity.
(n) See Note 3 for aggregate cost for federal tax purposes.

 

Forward contracts
Counterparty  Settlement Date  Currency Purchased  Currency Sold  Unrealized Appreciation (Depreciation) 
Citibank N.A.  10/13/23  USD  2,850,512   EUR  2,614,000   $85,734 
Citibank N.A.  10/13/23  USD  310,503   GBP  242,000    15,222
                    $100,956

 

Futures contracts               
   Expiration
Date
  Number of
Contracts
   Notional
Amount
   Value/ Net Unrealized
Appreciation
(Depreciation)
 
Long               
U.S. Treasury Ultra 10 Year  12/19/23   6   $690,549  $(21,174) 
U.S. Treasury Ultra Bond  12/19/23   1    125,198   (6,510) 
U.S. Treasury Note 2 Year  12/29/23   541    110,048,344   (381,727) 
U.S. Treasury Note 5 Year  12/29/23   3    318,225    (2,147) 
                $(411,558) 
Short               
Euro-BOBL  12/07/23   4   $(494,508)  $5,001 
Euro-Bund  12/07/23   4    (560,803)   16,784 
Euro-Buxl 30 Year Bond  12/07/23   2    (282,410)    23,680 
                $45,465 

 

Centrally Cleared Interest Rate Swaps
Paid by the Fund  Received by the Fund                      
Rate/ Reference  Frequency  Rate/ Reference   Frequency   Termination Date   Notional
Amount
  Value   Upfront Premium Paid/ (Received)   Unrealized Appreciation (Depreciation) 
Fixed 3.520%  Annually   12-Month USD SOFR    Annually    12/20/53   USD   2,201,000   $176,249   $   $176,249 

 

Currency Legend

EUR Euro
GBP British Pound
USD U.S. Dollar

 

 

 

Notes to Portfolio of Investments (Unaudited)

 

1. The Funds

MML Series Investment Fund (the ''Trust'') is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated December 19, 1984, as restated May 14, 1993, and further amended and restated as of 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 Conservative Allocation Fund ("Conservative Allocation Fund")

MML Balanced Allocation Fund ("Balanced Allocation Fund")

MML Moderate Allocation Fund ("Moderate Allocation Fund")

MML Growth Allocation Fund ("Growth Allocation Fund")

MML Aggressive Allocation Fund ("Aggressive Allocation Fund")

MML American Funds Growth Fund ("MML American Funds Growth Fund")

MML American Funds Core Allocation Fund ("MML American Funds Core Allocation Fund")

MML Blue Chip Growth Fund ("Blue Chip Growth Fund")

MML Equity Income Fund ("Equity Income Fund")

MML Equity Index Fund ("Equity Index Fund")

MML Focused Equity Fund ("Focused Equity Fund")

MML Foreign Fund ("Foreign Fund")

MML Fundamental Equity Fund ("Fundamental Equity Fund")

MML Fundamental Value Fund ("Fundamental Value Fund")

MML Global Fund ("Global Fund")

MML Income & Growth Fund ("Income & Growth Fund")

MML International Equity Fund ("International Equity Fund")

MML Large Cap Growth Fund ("Large Cap Growth Fund")

MML Managed Volatility Fund ("Managed Volatility Fund")

MML Mid Cap Growth Fund ("Mid Cap Growth Fund")

MML Mid Cap Value Fund ("Mid Cap Value Fund")

MML Small Cap Growth Equity Fund ("Small Cap Growth Equity Fund")

MML Small Company Value Fund ("Small Company Value Fund")

MML Small/Mid Cap Value Fund ("Small/Mid Cap Value Fund")

MML Sustainable Equity Fund ("Sustainable Equity Fund")

MML Total Return Bond Fund ("Total Return Bond 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 Allocation Funds (as defined below), which are "funds of funds" series of the Trust, are the record owners of all of the outstanding shares of the Funds.

 

The Conservative Allocation Fund, Balanced Allocation Fund, Moderate Allocation Fund, Growth Allocation Fund, and Aggressive Allocation Fund (the "Allocation Funds") invest their investable assets in shares of series of the Trust and MML Series Investment Fund II advised by MML Investment Advisers, LLC ("MML Advisers") and non-affiliated mutual funds (together, the "MML Underlying Funds").

 

MML American Funds Growth Fund (the "Feeder Fund") invests all of its assets in Class 1 shares of the Growth Fund, a series of the American Funds Insurance Series (the "Master Fund"). The Master Fund is an open-end investment company and organized as a Massachusetts business trust. The Feeder Fund has an investment objective that is consistent with the Master Fund. The Master Fund intends to comply with the requirements under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), applicable to mutual funds and intends to distribute substantially all of its taxable income and capital gains to shareholders, which includes the Feeder Fund, to qualify as a regulated investment company. The performance of the Feeder Fund is directly affected by the performance of the Master Fund. The MML American Funds Core Allocation Fund invests all of its investable assets in shares of various series of American Funds Insurance Series, which are managed by Capital Research and Management Company (together, the "American Underlying Funds" and collectively with the MML Underlying Funds, the "Underlying Funds"). 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

2. Significant Accounting Policies

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

 

Investment Valuation

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

 

The net asset value of each of the Allocation Funds, Feeder Fund, and MML American Funds Core Allocation Fund is based upon the net asset value(s) of the Master Fund or Underlying Funds, as applicable. Shares of the Master Fund and Underlying Funds are valued at their closing net asset values as reported on each business day.

 

The Prospectuses and Statements of Additional Information ("SAIs") for the Underlying Funds and the Master Fund, as applicable, explain the valuation methods for the Underlying Funds and the Master Fund, including the circumstances under which the Underlying Funds or the Master Fund may use fair value pricing and the effects of doing so. Such Prospectuses and SAIs are available on the Securities and Exchange Commission's ("SEC') EDGAR database on its website at http://www.sec.gov.

 

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

 

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

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

The Board of Trustees ("Trustees") have designated MML Advisers as the Funds’ "valuation designee," responsible for determining the fair value, in good faith, of securities and other instruments held by the Funds for which market quotations are not readily available or for which such market quotations or values are considered by MML Advisers or a subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event). It is possible that a significant amount of a Fund’s assets will be subject to fair valuation in accordance with MML Advisers’ fair valuation policy and procedures. The fair value determined for an investment by MML Advisers may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.

 

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

 

Investments in equity or debt issued by privately held companies or funds ("Private Company" or collectively, the "Private Companies") and any other investments fair valued using significant unobservable inputs may be fair valued using one or a combination of, but not limited to, the following inputs:

 

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

 

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

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

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

 

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

 

The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by a Fund. Typically, the most recently available information for a Private Company is as of a date that is earlier than the date a Fund is calculating its net asset value. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.

 

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

 

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

 

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

 

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

 

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

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

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

 

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

 

The Allocation Funds, Feeder Fund, and MML American Funds Core Allocation Fund characterized all investments at Level 1, as of September 30, 2023. The Focused Equity Fund, Fundamental Equity Fund, Large Cap Growth Fund, and Small/Mid Cap Value Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of September 30, 2023. For each Fund noted in the preceding sentences, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

 

The following is the aggregate value by input level, as of September 30, 2023, for the remaining Funds' investments:

 

Blue Chip Growth Fund                
                 
Asset Investments  Level 1   Level 2   Level 3   Total 
Common Stock  $405,863,004   $644,170   $742,427   $407,249,601 
Preferred Stock           911,759    911,759 
Corporate Debt       726,034        726,034 
Short-Term Investments   105    1,385,995        1,386,100 
Total Investments  $405,863,109   $2,756,199   $1,654,186   $410,273,494 

 

Equity Income Fund                
                 
Asset Investments            
Common Stock*  $310,902,191   $14,023,906   $   $324,926,097 
Preferred Stock*   804,812    2,297,307        3,102,119 
Short-Term Investments   4,094,141    2,491,817        6,585,958 
Total Investments  $315,801,144   $18,813,030   $   $334,614,174 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

Equity Index Fund                
                 
Asset Investments  Level 1   Level 2   Level 3   Total 
Common Stock  $581,401,337   $   $   $581,401,337 
Short-Term Investments       9,227,489        9,227,489 
Total Investments  $581,401,337   $9,227,489   $   $590,628,826 
                     
Liability Derivatives                    
Futures Contracts  $(418,426)  $   $   $(418,426)

 

Foreign Fund                
                 
Asset Investments            
Common Stock*                
Australia  $   $7,955,445   $   $7,955,445 
Belgium       5,899,620        5,899,620 
Canada   1,162,295            1,162,295 
China   1,639,344            1,639,344 
Denmark       654,954        654,954 
Finland       1,790,953        1,790,953 
France       15,227,672        15,227,672 
Germany       18,639,860        18,639,860 
Hong Kong       1,484,325        1,484,325 
Ireland   2,444,130    4,054,992        6,499,122 
Israel   1,839,264            1,839,264 
Italy       617,842        617,842 
Japan       29,739,873        29,739,873 
Luxembourg       1,440,569        1,440,569 
Netherlands       7,566,743        7,566,743 
Norway       2,182,046        2,182,046 
Republic of Korea       3,075,363        3,075,363 
Singapore       2,470,182        2,470,182 
Sweden       3,502,543        3,502,543 
Switzerland       6,378,039        6,378,039 
United Kingdom   690,432    31,089,904        31,780,336 
United States   1,750,045    11,640,875        13,390,920 
Preferred Stock*                    
Germany       934,978        934,978 
Short-Term Investments   1,107,831            1,107,831 
Total Investments  $10,633,341   $156,346,778   $   $166,980,119 

 

Fundamental Value Fund                
                 
Asset Investments            
Common Stock  $157,535,922   $   $   $157,535,922 
Short-Term Investments   337,413    2,039,734        2,377,147 
Total Investments  $157,873,335   $2,039,734   $   $159,913,069 

 

Global Fund                
                 
Asset Investments            
Common Stock *                    
Austria  $   $648,931  $   $648,931 
Canada   4,309,781            4,309,781 
Denmark       598,049        598,049 
France       9,698,601        9,698,601 
Germany       4,726,050        4,726,050 
Israel   1,514,461            1,514,461 
Japan       3,074,578        3,074,578 
Mexico   390,741            390,741 
Netherlands       2,759,207        2,759,207 
Republic of Korea       1,357,466        1,357,466 
Spain       1,714,073        1,714,073 
Sweden       1,342,497        1,342,497 
Switzerland       5,615,304        5,615,304 
United Kingdom       9,472,560        9,472,560 
United States   63,829,476    9,655,400        73,484,876 
Warrants   78,339            78,339 
Short-Term Investments   4,355,306    801,340        5,156,646 
Total Investments  $74,478,104   $51,464,056  $   $125,942,160 

 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

Income & Growth Fund                
                 
Asset Investments  Level 1   Level 2   Level 3   Total 
Common Stock  $152,999,270   $   $   $152,999,270 
Short-Term Investments   96,520    318,898        415,418 
Total Investments  $153,095,790   $318,898   $   $153,414,688 

 

International Equity Fund                
                 
Asset Investments            
Common Stock*                
Australia  $   $2,754,807   $   $2,754,807 
Belgium       2,137,881        2,137,881 
Canada   7,432,586            7,432,586 
China   1,275,548    5,338,057        6,613,605 
Denmark       5,244,715        5,244,715 
France       36,227,395        36,227,395 
Germany       34,129,222        34,129,222 
Hong Kong       5,467,744        5,467,744 
India   1,974,416    715,504        2,689,920 
Indonesia       114,225        114,225 
Ireland   3,254,688            3,254,688 
Israel   2,056,111            2,056,111 
Italy       6,217,567        6,217,567 
Japan       24,073,519        24,073,519 
Luxembourg       952,864        952,864 
Netherlands       5,238,014        5,238,014 
Portugal       1,384,320        1,384,320 
Republic of Korea       2,620,094        2,620,094 
Singapore       1,912,795        1,912,795 
Spain       2,520,288        2,520,288 
Sweden       3,020,306        3,020,306 
Switzerland       16,771,831        16,771,831 
Taiwan   1,797,613            1,797,613 
United Kingdom   741,296    23,982,132        24,723,428 
United States   2,283,250    18,772,942        21,056,192 
Preferred Stock*                    
Republic of Korea       1,247,515        1,247,515 
Short-Term Investments   2,040,796    8,433,935        10,474,731 
Total Investments  $22,856,304   $209,277,672   $   $232,133,976 

 

Managed Volatility Fund            
             
Asset Investments            
Common Stock  $97,098,492   $   $   $97,098,492 
Corporate Debt           +    
Purchased Options   1,350,944            1,350,944 
Rights           +    
Short-Term Investments       1,612,661        1,612,661 
Total Investments  $98,449,436   $1,612,661   $   $100,062,097 
                     
Liability Derivatives                    
Written Options  $(616,180)  $   $   $(616,180)

 

Mid Cap Growth Fund            
             
Asset Investments            
Common Stock  $305,949,720   $153,319   $   $306,103,039 
Preferred Stock           813,920    813,920 
Short-Term Investments   630,089    7,594,441        8,224,530 
Total Investments  $306,579,809   $7,747,760   $813,920   $315,141,489 

 

Mid Cap Value Fund            
             
Asset Investments            
Common Stock  $222,128,310   $19,284,409*  $   $241,412,719 
Preferred Stock       1,818,211*       1,818,211 
Mutual Funds   5,040,144            5,040,144 
Short-Term Investments   341,972    5,104,418        5,446,390 
Total Investments  $227,510,426   $26,207,038   $   $253,717,464 
Asset Derivatives                    
Forward Contracts  $   $39,435   $   $39,435 
Liability Derivatives                    
Forward Contracts  $   $(285)  $   $(285)

 

Small Cap Growth Equity Fund                
                 
Asset Investments            
Common Stock  $135,006,912   $   $   $135,006,912 
Mutual Funds   733,510            733,510 
Short-Term Investments   1,627,524    147,316        1,774,840 
Total Investments  $137,367,946   $147,316   $   $137,515,262 

 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

Small Company Value Fund                
                 
Asset Investments  Level 1   Level 2   Level 3   Total 
Common Stock  $68,698,360   $429,851*  $   $69,128,211 
Short-Term Investments   180,997    101,354        282,351 
Total Investments  $68,879,357   $531,205   $   $69,410,562 
Liability Derivatives                    
Forward Contracts  $   $(3,882)  $   $(3,882)

 

Sustainable Equity Fund            
             
Asset Investments            
Common Stock  $128,746,593   $1,514,420*  $   $130,261,013 
Mutual Funds   425,343            425,343 
Short-Term Investments       364,161        364,161 
Total Investments  $129,171,936   $1,878,581   $   $131,050,517 
Asset Derivatives                    
Forward Contracts  $   $954   $   $954 

  

Total Return Bond Fund            
             
Asset Investments            
Bank Loans  $   $5,872,778   $   $5,872,778 
Corporate Debt       81,857,902    +   81,857,902 
Municipal Obligations       2,453,736        2,453,736 
Non-U.S. Government Agency Obligations       57,017,255        57,017,255 
Sovereign Debt Obligations       2,347,758        2,347,758 
U.S. Government Agency Obligations and Instrumentalities       113,791,866        113,791,866 
U.S. Treasury Obligations       93,763,453        93,763,453 
Common Stock   154,254            154,254 
Rights           +    
Short-Term Investments   28,051,718    55,491,740        83,543,458 
Total Investments  $28,205,972   $412,596,488   $   $440,802,460 
Liability Investments                    
Unfunded Loan Commitments**  $   $(203)  $   $(203)
Asset Derivatives                    
Forward Contracts  $   $100,956   $   $100,956 
Futures Contracts   45,465            45,465 
Swap Agreements       176,249        176,249 
Total  $45,465   $277,205   $   $322,670 
Liability Derivatives                    
Futures Contracts  $(411,558)  $   $   $(411,558)

  

 

 

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 bank loan commitments are valued at the unrealized appreciation (depreciation) on the commitment.
+Represents a security at $0 value as of September 30, 2023.

 

Derivative Instruments

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

 

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

 

Securities Lending

Each Fund, other than the Allocation Funds, Feeder Fund, and MML American Funds Core Allocation 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, 2023, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan and all of the Funds’ cash collateral was invested in the State Street Navigator Securities Lending Government Money Market Portfolio.  

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower ("Borrowing Agreement"), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.

 

Accounting for Investment Transactions

Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.

 

Foreign Currency Translation

The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.

 

Foreign Securities

The Global Fund invests a significant amount of its assets in foreign securities and each of the Foreign Fund and International Equity Fund invests substantially all of its assets in foreign securities. The other Funds, except for the Allocation Funds, Feeder Fund, and MML American Funds Core Allocation Fund, may also invest in foreign securities. In addition, certain Underlying Funds or the Master Fund may invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, public health, and diplomatic risks. In addition, fluctuations in currency exchange rates may favorably or unfavorably affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, less stringent investor protection and disclosure standards, less reliable settlement practices, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater volatility in currency exchange rates, and are more susceptible to environmental problems. 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

Federal Income Tax

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

 

Dividends and Distributions to Shareholders

Dividends from net investment income and distributions of any net realized capital gains of each Fund are declared and paid annually and at other times as may be required to satisfy tax or regulatory requirements.

 

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. As a result, net investment income and net realized capital gains on investment transactions for a reporting period may differ significantly from distributions during such period.

 

3. Federal Income Tax Information

At September 30, 2023, the aggregate cost of investments and the unrealized appreciation (depreciation) in the value of all investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:

 

   Federal Income Tax Cost   Tax Basis Unrealized Appreciation   Tax Basis Unrealized (Depreciation)   Net Unrealized Appreciation (Depreciation) 
Conservative Allocation Fund  $321,456,075   $164,465   $(53,024,779)  $(52,860,314)
Balanced Allocation Fund   373,681,896        (54,527,004)   (54,527,004)
Moderate Allocation Fund   1,334,367,840        (204,824,956)   (204,824,956)
Growth Allocation Fund   1,038,574,695        (152,096,340)   (152,096,340)
Aggressive Allocation Fund   141,714,960        (22,113,102)   (22,113,102)
MML American Funds Growth Fund   219,176,993    1,333,317        1,333,317 
MML American Funds Core Allocation Fund   680,115,321    16,996,965    (52,059,682)   (35,062,717)
Blue Chip Growth Fund   302,942,464    126,523,456    (19,192,426)   107,331,030 
Equity Income Fund   288,146,898    63,362,841    (16,895,565)   46,467,276 
Equity Index Fund   332,990,204    279,188,069    (21,549,447)   257,638,622 
Focused Equity Fund   253,213,893    33,874,065    (10,531,171)   23,342,894 
Foreign Fund   170,784,048    18,267,946    (22,071,875)   (3,803,929)
Fundamental Equity Fund   129,080,463    14,493,815    (5,432,650)   9,061,165 
Fundamental Value Fund   135,187,289    30,448,460    (5,722,680)   24,725,780 
Global Fund   113,885,876    20,472,889    (8,416,605)   12,056,284 
Income & Growth Fund   135,675,423    26,365,559    (8,626,294)   17,739,265 
International Equity Fund   244,813,287    14,724,000    (27,403,311)   (12,679,311)
Large Cap Growth Fund   157,317,805    45,602,233    (14,903,184)   30,699,049 
Managed Volatility Fund   64,497,540    38,700,583    (3,136,026)   35,564,557 
Mid Cap Growth Fund   271,737,257    61,255,980    (17,851,748)   43,404,232 
Mid Cap Value Fund   278,509,099    7,818,259    (32,609,894)   (24,791,635)
Small Cap Growth Equity Fund   133,284,157    19,679,433    (15,448,328)   4,231,105 
Small Company Value Fund   78,409,592    3,773,110    (12,772,140)   (8,999,030)
Small/Mid Cap Value Fund   132,039,205    9,858,833    (18,438,968)   (8,580,135)
Sustainable Equity Fund   108,096,431    30,669,619    (7,715,533)   22,954,086 
Total Return Bond Fund   467,700,827    671,319    (27,569,686)   (26,898,367)

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

4. New Accounting Pronouncements

In June 2022, FASB issued Accounting Standards Update 2022-03 — Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ("ASU 2022-03"). ASU 2022-03 clarifies the guidance in Topic 820 to indicate that a contractual sale restriction should not be considered in the fair value of an equity security subject to such a restriction, and requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. ASU 2022-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023, and allows for early adoption. ASU 2022-03 will only be applicable to an equity security in which the contractual arrangement that restricts its sale is executed or modified on or after the adoption date. Management is currently evaluating the impact of applying this update.

 

In December 2022, FASB issued Accounting Standards Update 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" ("ASU 2022-06"). ASU 2022-06 is an update of ASU 2020-04, which responded to concerns about structural risks of interbank offered rates, and particularly the risk of cessation of LIBOR. ASU 2020-04 provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2022-06 defers the sunset date provision included in Topic 848. The amendments in this update are effective immediately through December 31, 2024, for all entities. Management does not expect ASU 2022-06 to have a material impact on the financial statements.

 

 

 

Notes to Portfolio of Investments (Unaudited) (Continued)

 

5. Coronavirus (COVID-19) Pandemic

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

 

6. Russia-Ukraine War

In February 2022, Russia commenced a large-scale military attack on Ukraine. The outbreak of hostilities between the two countries could result in more widespread conflict and could have a severe adverse effect on the regional and the global financial markets and economies. One or more of the Funds hold positions in securities or other instruments that are economically tied to Russia. Investments in Russia are subject to political, economic, legal, market, and currency risks, as well as the risks related to the economic sanctions on Russia, Russian individuals, and Russian corporate and banking entities imposed by the United States, other countries, and certain international organizations. Such sanctions — which affect companies in many sectors, including energy, financial services, and defense, among others — could adversely affect the global energy and financial markets and, thus, could affect the value of a Fund’s investments, even beyond any direct exposure the Fund may have to Russian issuers or the adjoining geographic regions. These sanctions and any other intergovernmental actions (including retaliatory actions by the Russian government) may also result in a decline in the value and liquidity of Russian securities and a weakening of the ruble, and will impair a Fund's ability to buy, sell, receive, or deliver Russian securities. In addition, certain transactions have been or may be prohibited and/or existing investments have or may become illiquid (e.g., because transacting in certain existing investments is prohibited), which could cause a Fund to sell other portfolio holdings at a disadvantageous time or price in order to meet shareholder redemptions