| MassMutual Total Return Bond Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 113.4% | ||||||||
| BANK LOANS — 1.7% | ||||||||
| Aerospace & Defense — 0.0% | ||||||||
| TransDigm, Inc., 2023 Term Loan I, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.598% VRN 8/24/28 | $ | 189,070 | $ | 189,779 | ||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.750% | ||||||||
| 10.427% VRN 4/20/28 | 43,828 | 44,965 | ||||||
| United Airlines, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 4/21/28 | 41,817 | 41,909 | ||||||
| 86,874 | ||||||||
| Beverages — 0.1% | ||||||||
| City Brewing Co. LLC, Closing Date Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 9.164% VRN 4/05/28 (a) | 127,080 | 99,653 | ||||||
| Naked Juice LLC | ||||||||
| Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.698% VRN 1/24/29 | 388,171 | 374,542 | ||||||
| 2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.000% | ||||||||
| 11.448% VRN 1/24/30 | 68,440 | 54,752 | ||||||
| 528,947 | ||||||||
| Chemicals — 0.0% | ||||||||
| Chemours Co., 2023 USD Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 8.856% VRN 8/18/28 | 259,945 | 259,166 | ||||||
| Mativ Holdings, Inc., Delayed Draw Term Loan A, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.956% VRN 5/06/27 | 44,880 | 43,758 | ||||||
| 302,924 | ||||||||
| Commercial Services — 0.1% | ||||||||
| Element Materials Technology Group US Holdings, Inc. | ||||||||
| 2022 USD Delayed Draw Term Loan, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.698% VRN 7/06/29 | 22,148 | 21,899 | ||||||
| 2022 USD Term Loan, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.698% VRN 7/06/29 | 47,987 | 47,447 | ||||||
| Pre-Paid Legal Services, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 12/15/28 | 102,762 | 101,863 | ||||||
| Prime Security Services Borrower LLC, 2023 Term Loan A, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.691% VRN 3/14/28 | 48,734 | 48,287 | ||||||
| Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.625% VRN 3/04/28 | 228,617 | 200,122 | ||||||
| Trans Union LLC, 2021 Term Loan B6, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.606% VRN 12/01/28 | 185,529 | 186,017 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TruGreen Ltd. Partnership, 2020 Term Loan, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.456% VRN 11/02/27 | $ | 56,609 | $ | 54,572 | ||||
| 660,207 | ||||||||
| Computers — 0.0% | ||||||||
| Amentum Government Services Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.470% VRN 1/29/27 | 68,453 | 68,389 | ||||||
| Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.206% VRN 2/01/28 | 219,366 | 219,641 | ||||||
| 288,030 | ||||||||
| Cosmetics & Personal Care — 0.0% | ||||||||
| Sunshine Luxembourg VII SARL, 2021 Term Loan B3, 3 mo. USD Term SOFR + 3.500% | ||||||||
| 8.948% VRN 10/01/26 | 148,874 | 149,512 | ||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Patriot Container Corp., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.106% VRN 3/20/25 | 34,464 | 32,950 | ||||||
| Diversified Financial Services — 0.1% | ||||||||
| Avolon TLB Borrower 1 (US) LLC, 2023 Term Loan B6, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.358% VRN 6/22/28 | 70,149 | 70,257 | ||||||
| Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 9.098% VRN 4/09/27 | 139,509 | 137,998 | ||||||
| Setanta Aircraft Leasing Designated Activity Co., Term Loan B, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.610% VRN 11/05/28 | 700,000 | 701,750 | ||||||
| 910,005 | ||||||||
| Electronics — 0.0% | ||||||||
| II-VI, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 7/02/29 | 35,374 | 35,433 | ||||||
| Entertainment — 0.1% | ||||||||
| Churchill Downs, Inc., 2021 Incremental Term Loan B1, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.456% VRN 3/17/28 | 99,235 | 99,111 | ||||||
| PENN Entertainment, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.206% VRN 5/03/29 | 52,402 | 52,461 | ||||||
| Scientific Games International, Inc., 2022 USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.465% VRN 4/14/29 | 106,265 | 106,431 | ||||||
| William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 5/18/25 | 217,506 | 217,914 | ||||||
| 475,917 | ||||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Environmental Controls — 0.0% | ||||||||
| Filtration Group Corp., 2023 USD Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.720% VRN 10/21/28 | $ | 53,768 | $ | 53,947 | ||||
| Food — 0.0% | ||||||||
| 8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 10/01/25 | 17,269 | 16,521 | ||||||
| H Food Holdings LLC, 2018 Term Loan B, 3 mo. USD Term SOFR + 3.688% | ||||||||
| 9.269% VRN 5/23/25 | 31,006 | 24,688 | ||||||
| 41,209 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Avantor Funding, Inc., 2021 Term Loan B5, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.706% VRN 11/08/27 | 160,005 | 160,227 | ||||||
| Bausch & Lomb Corp., Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.710% VRN 5/10/27 | 227,791 | 224,803 | ||||||
| Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 10/23/28 | 103,163 | 103,581 | ||||||
| 488,611 | ||||||||
| Health Care – Services — 0.0% | ||||||||
| ICON Luxembourg SARL, LUX Term Loan, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.860% VRN 7/03/28 | 88,186 | 88,434 | ||||||
| Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.348% VRN 9/27/30 | 85,619 | 84,513 | ||||||
| 172,947 | ||||||||
| Home Furnishing — 0.0% | ||||||||
| AI Aqua Merger Sub, Inc., 2021 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.093% VRN 7/31/28 | 97,616 | 97,561 | ||||||
| Insurance — 0.1% | ||||||||
| Acrisure LLC, 2020 Term Loan B, 3 mo. USD LIBOR + 3.500% | ||||||||
| 9.150% VRN 2/15/27 | 195,929 | 195,265 | ||||||
| AmWINS Group, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.720% VRN 2/19/28 | 436,227 | 436,345 | ||||||
| Asurion LLC | ||||||||
| 2020 Term Loan B8, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.720% VRN 12/23/26 | 201,687 | 201,016 | ||||||
| 2022 Term Loan B10, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.456% VRN 8/19/28 | 131,080 | 130,363 | ||||||
| 962,989 | ||||||||
| Internet — 0.1% | ||||||||
| Arches Buyer, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.706% VRN 12/06/27 | 64,255 | 62,737 | ||||||
| Buzz Finco LLC, Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.206% VRN 1/29/27 | 62,094 | 62,172 | ||||||
| Gen Digital, Inc., 2021 Term Loan A, 1 mo. USD Term SOFR + 1.500% | ||||||||
| 6.956% VRN 9/10/27 | 248,384 | 247,299 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| MH Sub I LLC, 2023 Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.606% VRN 5/03/28 | $ | 44,260 | $ | 43,442 | ||||
| Proofpoint, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.720% VRN 8/31/28 | 9,849 | 9,839 | ||||||
| 425,489 | ||||||||
| Lodging — 0.0% | ||||||||
| Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.356% VRN 1/27/29 | 294,750 | 294,688 | ||||||
| Media — 0.1% | ||||||||
| Charter Communications Operating LLC, 2019 Term Loan B2, 3 mo. USD Term SOFR + 1.750% | ||||||||
| 7.133% VRN 2/01/27 | 95,990 | 95,930 | ||||||
| CSC Holdings LLC, 2019 Term Loan B5, 1 mo. USD LIBOR + 2.500% | ||||||||
| 7.976% VRN 4/15/27 | 112,779 | 106,599 | ||||||
| DirecTV Financing LLC, Term Loan, 3 mo. USD Term SOFR + 5.000% | ||||||||
| 10.650% VRN 8/02/27 | 287,881 | 287,559 | ||||||
| 490,088 | ||||||||
| Packaging & Containers — 0.1% | ||||||||
| Berry Global, Inc., 2023 Term Loan AA, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.222% VRN 7/01/29 | 573,093 | 573,420 | ||||||
| Pharmaceuticals — 0.3% | ||||||||
| Elanco Animal Health, Inc., Term Loan B, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.193% VRN 8/01/27 | 602,965 | 598,696 | ||||||
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.448% VRN 10/01/27 | 220,455 | 213,841 | ||||||
| Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.538% VRN 11/15/27 | 571,893 | 571,179 | ||||||
| Jazz Financing Lux SARL, USD Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.970% VRN 5/05/28 | 380,515 | 382,258 | ||||||
| Organon & Co., USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.472% VRN 6/02/28 | 420,271 | 420,535 | ||||||
| PRA Health Sciences, Inc., US Term Loan, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.860% VRN 7/03/28 | 21,972 | 22,033 | ||||||
| Prestige Brands, Inc., 2021 Term Loan B5, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.470% VRN 7/03/28 | 167,045 | 167,493 | ||||||
| 2,376,035 | ||||||||
| Private Equity — 0.0% | ||||||||
| GTCR W Merger Sub LLC, USD Term Loan B, | ||||||||
| 0.000% 9/20/30 (a) | 166,159 | 166,783 | ||||||
| Retail — 0.1% | ||||||||
| 1011778 BC Unlimited Liability Co., 2023 Term Loan B5, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.606% VRN 9/20/30 | 110,485 | 110,446 | ||||||
| KFC Holding Co., 2021 Term Loan B, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.223% VRN 3/15/28 | 100,611 | 100,611 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Whatabrands LLC, 2021 Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 8/03/28 | $ | 465,500 | $ | 465,709 | ||||
| 676,766 | ||||||||
| Semiconductors — 0.0% | ||||||||
| Entegris, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.856% VRN 7/06/29 | 16,670 | 16,725 | ||||||
| Software — 0.2% | ||||||||
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.606% VRN 2/15/29 | 38,103 | 37,893 | ||||||
| Central Parent, Inc., 2023 Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.348% VRN 7/06/29 | 89,879 | 90,236 | ||||||
| DTI Holdco, Inc., 2022 Term Loan, 3 mo. USD Term SOFR + 4.750% | ||||||||
| 10.133% VRN 4/26/29 | 22,791 | 22,490 | ||||||
| EagleView Technology Corp., 2018 Add On Term Loan B, 3 mo. USD Term SOFR + 3.500% | ||||||||
| 9.111% VRN 8/14/25 (a) | 169,785 | 165,257 | ||||||
| Open Text Corp. | ||||||||
| Term Loan B, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.206% VRN 5/30/25 | 63,396 | 63,462 | ||||||
| 2023 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.206% VRN 1/31/30 | 131,603 | 131,818 | ||||||
| Oracle Corp., Term Loan A1, 1 mo. USD Term SOFR + 1.600% | ||||||||
| 7.043% VRN 8/16/27 | 483,855 | 481,435 | ||||||
| RealPage, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 4/24/28 | 35,456 | 35,133 | ||||||
| Renaissance Holding Corp., 2023 Refi Term Loan, 1 mo. USD Term SOFR + 4.750% | ||||||||
| 10.106% VRN 4/05/30 | 92,757 | 92,976 | ||||||
| Sophia LP, 2021 Term Loan B, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.956% VRN 10/07/27 | 96,917 | 97,008 | ||||||
| SS&C Technologies, Inc., 2018 Term Loan B5, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.220% VRN 4/16/25 | 486,895 | 487,333 | ||||||
| 1,705,041 | ||||||||
| Telecommunications — 0.2% | ||||||||
| Frontier Communications Corp., 2021 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 10/08/27 | 156,579 | 155,601 | ||||||
| SBA Senior Finance II LLC, 2018 Term Loan B, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.210% VRN 4/11/25 | 632,167 | 632,673 | ||||||
| Zayo Group Holdings, Inc., USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 3/09/27 | 837,204 | 716,663 | ||||||
| 1,504,937 | ||||||||
| Transportation — 0.0% | ||||||||
| Genesee & Wyoming, Inc., Term Loan, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.448% VRN 12/30/26 | 100,249 | 100,403 | ||||||
| TOTAL BANK LOANS (Cost $13,791,921) | 13,808,217 | |||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| CORPORATE DEBT — 22.8% | ||||||||
| Agriculture — 0.5% | ||||||||
| BAT Capital Corp. | ||||||||
| 4.390% 8/15/37 | $ | 340,000 | $ | 284,692 | ||||
| 4.540% 8/15/47 | 2,165,000 | 1,662,133 | ||||||
| 4.758% 9/06/49 | 86,000 | 68,163 | ||||||
| 5.650% 3/16/52 | 495,000 | 446,808 | ||||||
| BAT International Finance PLC | ||||||||
| 2.250% 9/09/52 GBP (b) (c) | 480,000 | 273,293 | ||||||
| Imperial Brands Finance PLC | ||||||||
| 3.875% 7/26/29 (b) | 50,000 | 46,647 | ||||||
| 6.125% 7/27/27 (b) | 690,000 | 708,512 | ||||||
| Reynolds American, Inc. | ||||||||
| 5.850% 8/15/45 | 1,160,000 | 1,085,826 | ||||||
| 4,576,074 | ||||||||
| Auto Manufacturers — 0.1% | ||||||||
| Allison Transmission, Inc. | ||||||||
| 3.750% 1/30/31 (b) | 475,000 | 419,686 | ||||||
| Banks — 7.8% | ||||||||
| Bank of America Corp. | ||||||||
| Secured Overnight Financing Rate + 0.960% 1.734% VRN 7/22/27 | 400,000 | 366,460 | ||||||
| Secured Overnight Financing Rate + 1.370% 1.922% VRN 10/24/31 | 120,000 | 97,422 | ||||||
| Secured Overnight Financing Rate + 1.060% 2.087% VRN 6/14/29 | 1,360,000 | 1,198,593 | ||||||
| Secured Overnight Financing Rate + 1.220% 2.299% VRN 7/21/32 | 265,000 | 216,382 | ||||||
| Secured Overnight Financing Rate + 1.050% 2.551% VRN 2/04/28 | 2,311,000 | 2,140,761 | ||||||
| Secured Overnight Financing Rate + 1.210% 2.572% VRN 10/20/32 | 325,000 | 269,448 | ||||||
| Secured Overnight Financing Rate + 2.150% 2.592% VRN 4/29/31 | 290,000 | 249,919 | ||||||
| 3 mo. USD Term SOFR + 1.774% 3.705% VRN 4/24/28 | 1,400,000 | 1,336,866 | ||||||
| 3 mo. USD Term SOFR + 1.837% 3.824% VRN 1/20/28 | 2,564,000 | 2,463,445 | ||||||
| 3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29 | 1,670,000 | 1,595,039 | ||||||
| Citigroup, Inc. | ||||||||
| Secured Overnight Financing Rate + 0.770% 1.462% VRN 6/09/27 | 180,000 | 164,725 | ||||||
| Secured Overnight Financing Rate + 1.167% 2.561% VRN 5/01/32 | 655,000 | 546,485 | ||||||
| Secured Overnight Financing Rate + 2.107% 2.572% VRN 6/03/31 | 740,000 | 632,121 | ||||||
| Secured Overnight Financing Rate + 1.422% 2.976% VRN 11/05/30 | 500,000 | 445,197 | ||||||
| Secured Overnight Financing Rate + 1.351% 3.057% VRN 1/25/33 | 2,060,000 | 1,757,554 | ||||||
| Goldman Sachs Group, Inc. | ||||||||
| Secured Overnight Financing Rate + 0.798% 1.431% VRN 3/09/27 | 2,295,000 | 2,116,191 | ||||||
| Secured Overnight Financing Rate + 0.818% 1.542% VRN 9/10/27 | 485,000 | 439,903 | ||||||
| Secured Overnight Financing Rate + 0.913% 1.948% VRN 10/21/27 | 1,550,000 | 1,417,972 | ||||||
| Secured Overnight Financing Rate + 1.248% 2.383% VRN 7/21/32 | 590,000 | 484,760 | ||||||
| Secured Overnight Financing Rate + 1.264% 2.650% VRN 10/21/32 | 85,000 | 70,832 | ||||||
| Secured Overnight Financing Rate + 0.486% 5.861% FRN 10/21/24 | 895,000 | 893,872 | ||||||
| HSBC Holdings PLC | ||||||||
| Secured Overnight Financing Rate + 1.732% 2.013% VRN 9/22/28 | 1,370,000 | 1,219,649 | ||||||
| Secured Overnight Financing Rate + 1.929% 2.099% VRN 6/04/26 | 1,480,000 | 1,408,926 | ||||||
| Secured Overnight Financing Rate + 1.285% 2.206% VRN 8/17/29 | 1,935,000 | 1,689,111 | ||||||
| Secured Overnight Financing Rate + 2.650% 6.332% VRN 3/09/44 | 435,000 | 468,800 | ||||||
| JP Morgan Chase & Co. | ||||||||
| 3 mo. USD Term SOFR + 0.580% 0.969% VRN 6/23/25 | 2,650,000 | 2,588,036 | ||||||
| Secured Overnight Financing Rate + 0.605% 1.561% VRN 12/10/25 | 1,890,000 | 1,819,691 | ||||||
| Secured Overnight Financing Rate + 0.885% 1.578% VRN 4/22/27 | 1,765,000 | 1,628,784 | ||||||
| Secured Overnight Financing Rate + 1.015% 2.069% VRN 6/01/29 | 885,000 | 784,686 | ||||||
| Secured Overnight Financing Rate + 1.180% 2.545% VRN 11/08/32 | 660,000 | 550,690 | ||||||
| 3 mo. USD Term SOFR + 1.250% 2.580% VRN 4/22/32 | 565,000 | 477,897 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30 | $ | 540,000 | $ | 480,127 | ||||
| 3 mo. USD Term SOFR + 1.382% 4.005% VRN 4/23/29 | 410,000 | 394,479 | ||||||
| Lloyds Banking Group PLC | ||||||||
| 1 yr. CMT + 0.850% 1.627% VRN 5/11/27 | 1,000,000 | 916,250 | ||||||
| 3 mo. USD LIBOR + 1.205% 3.574% VRN 11/07/28 | 425,000 | 399,310 | ||||||
| 1 yr. CMT + 3.500% 3.870% VRN 7/09/25 | 415,000 | 411,063 | ||||||
| Morgan Stanley | ||||||||
| Secured Overnight Financing Rate + 0.560% 1.164% VRN 10/21/25 | 2,885,000 | 2,776,497 | ||||||
| Secured Overnight Financing Rate + 0.879% 1.593% VRN 5/04/27 | 910,000 | 838,463 | ||||||
| Secured Overnight Financing Rate + 1.178% 2.239% VRN 7/21/32 | 1,020,000 | 832,567 | ||||||
| Secured Overnight Financing Rate + 1.360% 2.484% VRN 9/16/36 | 980,000 | 776,736 | ||||||
| NatWest Group PLC 3 mo. USD LIBOR + 1.762% | ||||||||
| 4.269% VRN 3/22/25 | 475,000 | 473,315 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| Secured Overnight Financing Rate + 1.933% 5.068% VRN 1/24/34 | 715,000 | 699,599 | ||||||
| Secured Overnight Financing Rate + 1.841% 5.582% VRN 6/12/29 | 395,000 | 403,426 | ||||||
| Secured Overnight Financing Rate Index + 2.140% 6.037% VRN 10/28/33 | 1,025,000 | 1,070,929 | ||||||
| Secured Overnight Financing Rate + 2.284% 6.875% VRN 10/20/34 | 715,000 | 793,748 | ||||||
| Santander UK Group Holdings PLC | ||||||||
| Secured Overnight Financing Rate + 0.787% 1.089% VRN 3/15/25 | 1,825,000 | 1,804,921 | ||||||
| 1 yr. CMT + 1.250% 1.532% VRN 8/21/26 | 295,000 | 275,094 | ||||||
| Secured Overnight Financing Rate + 0.989% 1.673% VRN 6/14/27 | 340,000 | 309,083 | ||||||
| Secured Overnight Financing Rate + 1.220% 2.469% VRN 1/11/28 | 285,000 | 259,715 | ||||||
| UBS Group AG | ||||||||
| Secured Overnight Financing Rate Index + 0.980% 1.305% VRN 2/02/27 (b) | 565,000 | 517,103 | ||||||
| 1 yr. CMT + 0.850% 1.494% VRN 8/10/27 (b) | 145,000 | 131,014 | ||||||
| Secured Overnight Financing Rate + 1.560% 2.593% VRN 9/11/25 (b) | 310,000 | 303,268 | ||||||
| Secured Overnight Financing Rate + 1.730% 3.091% VRN 5/14/32 (b) | 1,990,000 | 1,694,816 | ||||||
| Secured Overnight Financing Rate + 3.340% 6.373% VRN 7/15/26 (b) | 510,000 | 515,666 | ||||||
| Secured Overnight Financing Rate + 3.920% 6.537% VRN 8/12/33 (b) | 3,025,000 | 3,228,149 | ||||||
| Secured Overnight Financing Rate + 5.020% 9.016% VRN 11/15/33 (b) | 2,275,000 | 2,796,511 | ||||||
| US Bancorp | ||||||||
| Secured Overnight Financing Rate + 1.600% 4.839% VRN 2/01/34 | 1,575,000 | 1,508,604 | ||||||
| Secured Overnight Financing Rate + 2.260% 5.836% VRN 6/12/34 | 455,000 | 469,344 | ||||||
| Secured Overnight Financing Rate + 2.090% 5.850% VRN 10/21/33 | 715,000 | 736,618 | ||||||
| Wells Fargo & Co. | ||||||||
| Secured Overnight Financing Rate + 2.100% 2.393% VRN 6/02/28 | 1,370,000 | 1,254,817 | ||||||
| Secured Overnight Financing Rate + 1.500% 3.350% VRN 3/02/33 | 3,115,000 | 2,720,692 | ||||||
| Secured Overnight Financing Rate + 1.510% 3.526% VRN 3/24/28 | 1,800,000 | 1,717,233 | ||||||
| Secured Overnight Financing Rate + 2.100% 4.897% VRN 7/25/33 | 795,000 | 774,469 | ||||||
| Secured Overnight Financing Rate + 1.740% 5.574% VRN 7/25/29 | 1,075,000 | 1,097,648 | ||||||
| 64,921,491 | ||||||||
| Beverages — 0.1% | ||||||||
| Bacardi Ltd. | ||||||||
| 5.300% 5/15/48 (b) | 275,000 | 263,043 | ||||||
| Triton Water Holdings, Inc. | ||||||||
| 6.250% 4/01/29 (b) | 665,000 | 579,381 | ||||||
| 842,424 | ||||||||
| Chemicals — 0.3% | ||||||||
| Axalta Coating Systems Dutch Holding B BV | ||||||||
| 7.250% 2/15/31 (b) | 225,000 | 235,965 | ||||||
| International Flavors & Fragrances, Inc. | ||||||||
| 1.832% 10/15/27 (b) | 85,000 | 74,484 | ||||||
| 2.300% 11/01/30 (b) | 1,860,000 | 1,537,990 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.268% 11/15/40 (b) | $ | 350,000 | $ | 250,446 | ||||
| 4.375% 6/01/47 | 230,000 | 176,455 | ||||||
| 5.000% 9/26/48 | 430,000 | 364,961 | ||||||
| SK Invictus Intermediate II SARL | ||||||||
| 5.000% 10/30/29 (b) | 80,000 | 69,400 | ||||||
| 2,709,701 | ||||||||
| Commercial Services — 0.1% | ||||||||
| Adtalem Global Education, Inc. | ||||||||
| 5.500% 3/01/28 (b) | 85,000 | 81,762 | ||||||
| Global Payments, Inc. | ||||||||
| 4.875% 3/17/31 EUR (c) | 370,000 | 428,216 | ||||||
| 5.950% 8/15/52 | 495,000 | 504,384 | ||||||
| Upbound Group, Inc. | ||||||||
| 6.375% 2/15/29 (b) | 85,000 | 79,773 | ||||||
| WASH Multifamily Acquisition, Inc. | ||||||||
| 5.750% 4/15/26 (b) | 60,000 | 57,744 | ||||||
| 1,151,879 | ||||||||
| Computers — 0.0% | ||||||||
| NCR Voyix Corp. | ||||||||
| 5.125% 4/15/29 (b) | 175,000 | 166,355 | ||||||
| 5.250% 10/01/30 (b) | 15,000 | 13,776 | ||||||
| 180,131 | ||||||||
| Diversified Financial Services — 1.0% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 3.000% 10/29/28 | 640,000 | 584,313 | ||||||
| 3.300% 1/30/32 | 2,270,000 | 1,975,648 | ||||||
| Air Lease Corp. | ||||||||
| 3.250% 3/01/25 | 950,000 | 925,088 | ||||||
| 5.850% 12/15/27 | 505,000 | 518,054 | ||||||
| Avolon Holdings Funding Ltd. | ||||||||
| 2.528% 11/18/27 (b) | 1,109,000 | 982,397 | ||||||
| 2.875% 2/15/25 (b) | 45,000 | 43,404 | ||||||
| 3.950% 7/01/24 (b) | 380,000 | 374,892 | ||||||
| 4.375% 5/01/26 (b) | 815,000 | 788,589 | ||||||
| Capital One Financial Corp. Secured Overnight Financing Rate + 1.790% | ||||||||
| 3.273% VRN 3/01/30 | 1,160,000 | 1,035,999 | ||||||
| Discover Financial Services | ||||||||
| 3.950% 11/06/24 | 150,000 | 147,449 | ||||||
| GGAM Finance Ltd. | ||||||||
| 8.000% 2/15/27 (b) | 675,000 | 691,902 | ||||||
| Park Aerospace Holdings Ltd. | ||||||||
| 5.500% 2/15/24 (b) | 75,000 | 74,860 | ||||||
| 8,142,595 | ||||||||
| Electric — 1.9% | ||||||||
| Baltimore Gas & Electric Co. | ||||||||
| 5.400% 6/01/53 | 395,000 | 407,577 | ||||||
| Duke Energy Carolinas LLC | ||||||||
| 3.700% 12/01/47 | 738,000 | 578,640 | ||||||
| Duke Energy Corp. | ||||||||
| 3.750% 9/01/46 | 471,000 | 362,902 | ||||||
| Duke Energy Florida LLC | ||||||||
| 5.875% 11/15/33 | 195,000 | 210,200 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Duke Energy Progress LLC | ||||||||
| 5.250% 3/15/33 | $ | 875,000 | $ | 901,838 | ||||
| Entergy Louisiana LLC | ||||||||
| 3.780% 4/01/25 | 1,250,000 | 1,227,440 | ||||||
| Eversource Energy | ||||||||
| 4.600% 7/01/27 | 735,000 | 729,024 | ||||||
| 5.950% 2/01/29 | 835,000 | 874,457 | ||||||
| FirstEnergy Transmission LLC | ||||||||
| 2.866% 9/15/28 (b) | 1,401,000 | 1,270,253 | ||||||
| 5.450% 7/15/44 (b) | 600,000 | 579,627 | ||||||
| Metropolitan Edison Co. | ||||||||
| 4.000% 4/15/25 (b) | 985,000 | 961,200 | ||||||
| MidAmerican Energy Co. | ||||||||
| 4.400% 10/15/44 | 1,905,000 | 1,702,800 | ||||||
| Mong Duong Finance Holdings BV | ||||||||
| 5.125% 5/07/29 (b) | 230,573 | 213,563 | ||||||
| Public Service Co. of Colorado | ||||||||
| 5.250% 4/01/53 | 770,000 | 766,449 | ||||||
| Southwestern Electric Power Co. | ||||||||
| 3.250% 11/01/51 | 425,000 | 286,384 | ||||||
| 5.300% 4/01/33 | 1,400,000 | 1,400,028 | ||||||
| TenneT Holding BV | ||||||||
| 2.750% 5/17/42 EUR (b) (c) | 515,000 | 525,053 | ||||||
| 4.500% 10/28/34 EUR (b) (c) | 750,000 | 917,270 | ||||||
| 4.750% 10/28/42 EUR (b) (c) | 185,000 | 234,851 | ||||||
| Wisconsin Power & Light Co. | ||||||||
| 4.950% 4/01/33 | 1,535,000 | 1,538,774 | ||||||
| 15,688,330 | ||||||||
| Engineering & Construction — 0.0% | ||||||||
| Artera Services LLC | ||||||||
| 9.033% 12/04/25 (b) | 257,000 | 243,125 | ||||||
| Entertainment — 0.5% | ||||||||
| Warnermedia Holdings, Inc. | ||||||||
| 5.050% 3/15/42 | 1,760,000 | 1,551,582 | ||||||
| 5.141% 3/15/52 | 3,001,000 | 2,575,926 | ||||||
| 4,127,508 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Waste Pro USA, Inc. | ||||||||
| 5.500% 2/15/26 (b) | 515,000 | 495,687 | ||||||
| Food — 0.6% | ||||||||
| JBS USA LUX SA/JBS USA Food Co./JBS Luxembourg SARL | ||||||||
| 6.750% 3/15/34 (b) | 1,650,000 | 1,738,489 | ||||||
| JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. | ||||||||
| 3.000% 2/02/29 | 730,000 | 642,104 | ||||||
| 3.000% 5/15/32 | 410,000 | 333,806 | ||||||
| 6.500% 12/01/52 | 900,000 | 904,949 | ||||||
| Pilgrim's Pride Corp. | ||||||||
| 3.500% 3/01/32 (b) | 500,000 | 422,710 | ||||||
| 6.250% 7/01/33 | 720,000 | 740,825 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed | ||||||||
| 4.625% 3/01/29 (b) | $ | 400,000 | $ | 346,072 | ||||
| 5,128,955 | ||||||||
| Gas — 0.3% | ||||||||
| East Ohio Gas Co. | ||||||||
| 2.000% 6/15/30 (b) | 995,000 | 827,037 | ||||||
| KeySpan Gas East Corp. | ||||||||
| 5.819% 4/01/41 (b) | 1,337,000 | 1,296,581 | ||||||
| National Gas Transmission PLC | ||||||||
| 4.250% 4/05/30 EUR (b) (c) | 375,000 | 429,459 | ||||||
| 2,553,077 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Embecta Corp. | ||||||||
| 5.000% 2/15/30 (b) | 64,000 | 54,287 | ||||||
| Medtronic Global Holdings SCA | ||||||||
| 3.375% 10/15/34 EUR (c) | 300,000 | 334,003 | ||||||
| Sartorius Finance BV | ||||||||
| 4.500% 9/14/32 EUR (b) (c) | 300,000 | 344,962 | ||||||
| 733,252 | ||||||||
| Health Care – Services — 1.2% | ||||||||
| Aetna, Inc. | ||||||||
| 3.500% 11/15/24 | 500,000 | 491,615 | ||||||
| Catalent Pharma Solutions, Inc. | ||||||||
| 3.500% 4/01/30 (b) (d) | 380,000 | 330,577 | ||||||
| Centene Corp. | ||||||||
| 2.450% 7/15/28 | 1,951,000 | 1,737,560 | ||||||
| 4.250% 12/15/27 | 590,000 | 568,496 | ||||||
| CommonSpirit Health | ||||||||
| 3.347% 10/01/29 | 65,000 | 59,349 | ||||||
| HCA, Inc. | ||||||||
| 4.125% 6/15/29 | 397,000 | 379,579 | ||||||
| 5.125% 6/15/39 | 650,000 | 619,390 | ||||||
| 5.250% 4/15/25 | 644,000 | 643,252 | ||||||
| 5.250% 6/15/49 | 485,000 | 450,839 | ||||||
| 5.375% 9/01/26 | 590,000 | 592,709 | ||||||
| 5.500% 6/15/47 | 270,000 | 259,934 | ||||||
| Humana, Inc. | ||||||||
| 3.700% 3/23/29 | 1,025,000 | 984,622 | ||||||
| IQVIA, Inc. | ||||||||
| 6.250% 2/01/29 (b) | 1,480,000 | 1,545,041 | ||||||
| Kedrion SpA | ||||||||
| 6.500% 9/01/29 (b) | 675,000 | 614,250 | ||||||
| ModivCare Escrow Issuer, Inc. | ||||||||
| 5.000% 10/01/29 (b) | 575,000 | 469,970 | ||||||
| 9,747,183 | ||||||||
| Household Products & Wares — 0.0% | ||||||||
| Central Garden & Pet Co. | ||||||||
| 5.125% 2/01/28 | 22,000 | 21,375 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Spectrum Brands, Inc. | ||||||||
| 3.875% 3/15/31 (b) | $ | 185,000 | $ | 168,350 | ||||
| 189,725 | ||||||||
| Insurance — 1.3% | ||||||||
| Athene Global Funding | ||||||||
| 1.985% 8/19/28 (b) | 2,200,000 | 1,898,948 | ||||||
| 3.205% 3/08/27 (b) | 445,000 | 408,350 | ||||||
| Farmers Exchange Capital II 3 mo. USD LIBOR + 3.744% | ||||||||
| 6.151% VRN 11/01/53 (b) | 350,000 | 344,853 | ||||||
| Farmers Exchange Capital III 3 mo. USD LIBOR + 3.454% | ||||||||
| 5.454% VRN 10/15/54 (b) | 3,290,000 | 2,763,600 | ||||||
| Metropolitan Life Global Funding I | ||||||||
| 5.150% 3/28/33 (b) | 480,000 | 488,333 | ||||||
| Teachers Insurance & Annuity Association of America 3 mo. USD LIBOR + 2.661% | ||||||||
| 4.375% VRN 9/15/54 (b) | 4,000,000 | 3,906,175 | ||||||
| Willis North America, Inc. | ||||||||
| 5.350% 5/15/33 | 965,000 | 974,583 | ||||||
| 10,784,842 | ||||||||
| Internet — 0.1% | ||||||||
| Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc. | ||||||||
| 4.750% 4/30/27 (b) | 140,000 | 133,700 | ||||||
| Tencent Holdings Ltd. | ||||||||
| 3.680% 4/22/41 (b) | 455,000 | 357,720 | ||||||
| 3.975% 4/11/29 (b) | 410,000 | 390,031 | ||||||
| 881,451 | ||||||||
| Lodging — 0.1% | ||||||||
| Hyatt Hotels Corp. | ||||||||
| 1.800% 10/01/24 | 930,000 | 902,324 | ||||||
| Machinery – Diversified — 0.0% | ||||||||
| OT Merger Corp. | ||||||||
| 7.875% 10/15/29 (b) | 250,000 | 149,750 | ||||||
| Media — 0.9% | ||||||||
| Cable One, Inc. | ||||||||
| 4.000% 11/15/30 (b) (d) | 1,085,000 | 878,457 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 3.750% 2/15/28 | 500,000 | 472,024 | ||||||
| 4.800% 3/01/50 | 375,000 | 290,277 | ||||||
| 4.908% 7/23/25 | 1,105,000 | 1,094,495 | ||||||
| 5.250% 4/01/53 (d) | 250,000 | 209,386 | ||||||
| 5.375% 4/01/38 | 5,000 | 4,509 | ||||||
| 5.375% 5/01/47 | 180,000 | 152,968 | ||||||
| 5.750% 4/01/48 | 1,088,000 | 965,577 | ||||||
| CSC Holdings LLC | ||||||||
| 5.375% 2/01/28 (b) | 150,000 | 132,500 | ||||||
| 5.750% 1/15/30 (b) | 250,000 | 155,625 | ||||||
| 6.500% 2/01/29 (b) | 1,233,000 | 1,088,246 | ||||||
| 7.500% 4/01/28 (b) (d) | 80,000 | 59,847 | ||||||
| 11.250% 5/15/28 (b) | 200,000 | 206,072 | ||||||
| Time Warner Cable LLC | ||||||||
| 5.500% 9/01/41 | 370,000 | 320,081 | ||||||
| 5.875% 11/15/40 | 360,000 | 325,871 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| VZ Secured Financing BV | ||||||||
| 5.000% 1/15/32 (b) | $ | 970,000 | $ | 828,110 | ||||
| 7,184,045 | ||||||||
| Oil & Gas — 0.2% | ||||||||
| Ecopetrol SA | ||||||||
| 8.875% 1/13/33 | 100,000 | 108,648 | ||||||
| KazMunayGas National Co. JSC | ||||||||
| 4.750% 4/19/27 (b) | 200,000 | 194,300 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 0.000% 10/10/36 | 115,000 | 61,237 | ||||||
| 4.500% 7/15/44 | 400,000 | 311,000 | ||||||
| Pertamina Persero PT | ||||||||
| 3.100% 8/27/30 (b) | 675,000 | 605,152 | ||||||
| Petroleos Mexicanos | ||||||||
| 6.625% 6/15/35 | 700,000 | 536,863 | ||||||
| 1,817,200 | ||||||||
| Packaging & Containers — 0.4% | ||||||||
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. | ||||||||
| 5.250% 8/15/27 (b) | 900,000 | 699,178 | ||||||
| Berry Global, Inc. | ||||||||
| 1.650% 1/15/27 | 85,000 | 76,528 | ||||||
| 4.875% 7/15/26 (b) | 585,000 | 574,883 | ||||||
| 5.500% 4/15/28 (b) | 310,000 | 313,397 | ||||||
| Clearwater Paper Corp. | ||||||||
| 4.750% 8/15/28 (b) | 300,000 | 278,101 | ||||||
| Sealed Air Corp. | ||||||||
| 1.573% 10/15/26 (b) | 1,200,000 | 1,080,514 | ||||||
| 3,022,601 | ||||||||
| Pharmaceuticals — 0.6% | ||||||||
| 1375209 BC Ltd. | ||||||||
| 9.000% 1/30/28 (b) (d) | 516,000 | 503,152 | ||||||
| Bayer US Finance II LLC | ||||||||
| 4.375% 12/15/28 (b) | 3,281,000 | 3,117,738 | ||||||
| 4.625% 6/25/38 (b) | 1,310,000 | 1,131,755 | ||||||
| 4.875% 6/25/48 (b) | 220,000 | 185,540 | ||||||
| CVS Health Corp. | ||||||||
| 5.050% 3/25/48 | 475,000 | 444,271 | ||||||
| Grifols SA | ||||||||
| 4.750% 10/15/28 (b) (d) | 5,000 | 4,534 | ||||||
| 5,386,990 | ||||||||
| Pipelines — 0.6% | ||||||||
| Columbia Pipelines Operating Co. LLC | ||||||||
| 6.036% 11/15/33 (b) | 65,000 | 68,073 | ||||||
| Energy Transfer LP | ||||||||
| 4.950% 6/15/28 | 1,131,000 | 1,126,575 | ||||||
| 5.350% 5/15/45 | 370,000 | 343,633 | ||||||
| 5.950% 10/01/43 | 750,000 | 738,220 | ||||||
| Galaxy Pipeline Assets Bidco Ltd. | ||||||||
| 2.160% 3/31/34 (b) | 339,776 | 294,620 | ||||||
| Rockies Express Pipeline LLC | ||||||||
| 6.875% 4/15/40 (b) | 745,000 | 728,839 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Southern Gas Corridor CJSC | ||||||||
| 6.875% 3/24/26 (b) | $ | 400,000 | $ | 406,000 | ||||
| TransCanada PipeLines Ltd. | ||||||||
| 4.625% 3/01/34 | 1,035,000 | 979,852 | ||||||
| 5.850% 3/15/36 | 50,000 | 51,240 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 6.250% 1/15/30 (b) | 259,000 | 257,599 | ||||||
| Venture Global LNG, Inc. | ||||||||
| 9.500% 2/01/29 (b) | 391,000 | 413,743 | ||||||
| 5,408,394 | ||||||||
| Real Estate — 0.2% | ||||||||
| Annington Funding PLC | ||||||||
| 2.308% 10/06/32 GBP (b) (c) | 220,000 | 218,085 | ||||||
| 3.184% 7/12/29 GBP (b) (c) | 200,000 | 227,799 | ||||||
| 3.685% 7/12/34 GBP (b) (c) | 200,000 | 214,399 | ||||||
| Blackstone Property Partners Europe Holdings SARL | ||||||||
| 1.625% 4/20/30 EUR (b) (c) | 500,000 | 441,155 | ||||||
| 1.750% 3/12/29 EUR (b) (c) | 350,000 | 324,683 | ||||||
| Vonovia Finance BV | ||||||||
| 2.250% 4/07/30 EUR (b) (c) | 100,000 | 99,155 | ||||||
| Vonovia SE | ||||||||
| 1.500% 6/14/41 EUR (b) (c) | 400,000 | 286,320 | ||||||
| 1,811,596 | ||||||||
| Real Estate Investment Trusts (REITS) — 2.3% | ||||||||
| American Assets Trust LP | ||||||||
| 3.375% 2/01/31 | 865,000 | 705,321 | ||||||
| American Homes 4 Rent LP | ||||||||
| 3.625% 4/15/32 | 1,142,000 | 1,022,755 | ||||||
| 4.300% 4/15/52 | 350,000 | 281,851 | ||||||
| American Tower Corp. | ||||||||
| 1.000% 1/15/32 EUR (c) | 100,000 | 90,282 | ||||||
| 2.300% 9/15/31 | 1,050,000 | 868,168 | ||||||
| 2.700% 4/15/31 | 195,000 | 167,448 | ||||||
| CapitaLand Ascendas REIT | ||||||||
| 0.750% 6/23/28 EUR (b) (c) | 445,000 | 417,569 | ||||||
| Crown Castle, Inc. | ||||||||
| 2.100% 4/01/31 | 1,777,000 | 1,447,290 | ||||||
| CubeSmart LP | ||||||||
| 2.000% 2/15/31 | 730,000 | 595,415 | ||||||
| Digital Intrepid Holding BV | ||||||||
| 0.625% 7/15/31 EUR (b) (c) | 1,050,000 | 908,667 | ||||||
| Extra Space Storage LP | ||||||||
| 2.350% 3/15/32 | 35,000 | 28,529 | ||||||
| 2.400% 10/15/31 | 1,040,000 | 857,965 | ||||||
| 3.900% 4/01/29 | 670,000 | 633,589 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 3.250% 1/15/32 | 629,000 | 531,035 | ||||||
| 4.000% 1/15/30 | 115,000 | 104,935 | ||||||
| 4.000% 1/15/31 | 380,000 | 342,241 | ||||||
| 5.375% 4/15/26 | 1,375,000 | 1,366,499 | ||||||
| 6.750% 12/01/33 | 175,000 | 188,795 | ||||||
| Healthcare Realty Holdings LP | ||||||||
| 2.000% 3/15/31 | 150,000 | 120,054 | ||||||
| 2.050% 3/15/31 | 106,000 | 82,041 | ||||||
| 2.400% 3/15/30 | 615,000 | 504,994 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.100% 2/15/30 | $ | 825,000 | $ | 721,214 | ||||
| 3.625% 1/15/28 | 157,000 | 144,697 | ||||||
| Hudson Pacific Properties LP | ||||||||
| 3.250% 1/15/30 | 160,000 | 117,508 | ||||||
| 3.950% 11/01/27 | 150,000 | 125,567 | ||||||
| 4.650% 4/01/29 (d) | 1,370,000 | 1,111,296 | ||||||
| Invitation Homes Operating Partnership LP | ||||||||
| 2.000% 8/15/31 | 1,084,000 | 862,605 | ||||||
| 4.150% 4/15/32 | 125,000 | 114,864 | ||||||
| 5.500% 8/15/33 | 95,000 | 95,115 | ||||||
| LXP Industrial Trust | ||||||||
| 6.750% 11/15/28 | 230,000 | 241,660 | ||||||
| Physicians Realty LP | ||||||||
| 2.625% 11/01/31 | 465,000 | 382,567 | ||||||
| 4.300% 3/15/27 | 105,000 | 102,133 | ||||||
| Prologis Euro Finance LLC | ||||||||
| 4.250% 1/31/43 EUR (c) | 710,000 | 788,445 | ||||||
| Realty Income Corp. | ||||||||
| 5.125% 7/06/34 EUR (c) | 465,000 | 566,524 | ||||||
| Rexford Industrial Realty LP | ||||||||
| 2.150% 9/01/31 | 110,000 | 88,044 | ||||||
| VICI Properties LP | ||||||||
| 4.950% 2/15/30 | 140,000 | 135,845 | ||||||
| 5.125% 5/15/32 | 1,168,000 | 1,138,571 | ||||||
| 5.625% 5/15/52 | 73,000 | 69,993 | ||||||
| VICI Properties LP/VICI Note Co., Inc. | ||||||||
| 3.750% 2/15/27 (b) | 30,000 | 28,319 | ||||||
| 3.875% 2/15/29 (b) | 430,000 | 395,011 | ||||||
| 4.125% 8/15/30 (b) | 50,000 | 45,546 | ||||||
| 4.500% 9/01/26 (b) | 240,000 | 232,302 | ||||||
| 4.500% 1/15/28 (b) | 160,000 | 152,619 | ||||||
| 4.625% 6/15/25 (b) | 65,000 | 63,846 | ||||||
| 5.750% 2/01/27 (b) | 10,000 | 10,030 | ||||||
| 18,999,764 | ||||||||
| Retail — 0.1% | ||||||||
| Ferrellgas LP/Ferrellgas Finance Corp. | ||||||||
| 5.875% 4/01/29 (b) | 100,000 | 94,466 | ||||||
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. | ||||||||
| 6.750% 1/15/30 (b) (d) | 448,000 | 393,345 | ||||||
| Michaels Cos., Inc. | ||||||||
| 5.250% 5/01/28 (b) | 556,000 | 439,565 | ||||||
| 7.875% 5/01/29 (b) | 339,000 | 213,431 | ||||||
| Raising Cane's Restaurants LLC | ||||||||
| 9.375% 5/01/29 (b) | 130,000 | 138,734 | ||||||
| 1,279,541 | ||||||||
| Savings & Loans — 0.1% | ||||||||
| Nationwide Building Society Secured Overnight Financing Rate + 1.290% | ||||||||
| 2.972% VRN 2/16/28 (b) | 720,000 | 669,573 | ||||||
| Software — 0.5% | ||||||||
| Open Text Corp. | ||||||||
| 6.900% 12/01/27 (b) | 125,000 | 129,956 | ||||||
| Oracle Corp. | ||||||||
| 3.800% 11/15/37 | 200,000 | 169,956 | ||||||
| 3.950% 3/25/51 | 2,988,000 | 2,339,799 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.500% 4/15/38 | $ | 515,000 | $ | 568,468 | ||||
| Take-Two Interactive Software, Inc. | ||||||||
| 4.000% 4/14/32 | 810,000 | 769,167 | ||||||
| 3,977,346 | ||||||||
| Telecommunications — 0.7% | ||||||||
| AT&T, Inc. | ||||||||
| 4.850% 3/01/39 | 366,000 | 350,204 | ||||||
| CommScope, Inc. | ||||||||
| 4.750% 9/01/29 (b) | 700,000 | 469,984 | ||||||
| Frontier Communications Holdings LLC | ||||||||
| 8.625% 3/15/31 (b) | 905,000 | 922,740 | ||||||
| Intelsat Jackson Holdings SA | ||||||||
| 6.500% 3/15/30 (b) | 420,000 | 400,093 | ||||||
| Sprint Capital Corp. | ||||||||
| 8.750% 3/15/32 | 665,000 | 820,785 | ||||||
| Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC | ||||||||
| 4.738% 9/20/29 (b) | 248,437 | 246,284 | ||||||
| 5.152% 9/20/29 (b) | 1,712,750 | 1,705,088 | ||||||
| T-Mobile USA, Inc. | ||||||||
| 3.750% 4/15/27 | 1,270,000 | 1,231,807 | ||||||
| 6,146,985 | ||||||||
| Water — 0.1% | ||||||||
| Thames Water Utilities Finance PLC | ||||||||
| 4.375% 1/18/31 EUR (b) (c) | 405,000 | 421,530 | ||||||
| TOTAL CORPORATE DEBT (Cost $197,862,322) | 190,694,755 | |||||||
| MUNICIPAL OBLIGATIONS — 0.6% | ||||||||
| City of New York NY, General Obligation | ||||||||
| 3.000% 8/01/34 | 945,000 | 808,394 | ||||||
| County of Miami-Dade FL Aviation Revenue, Revenue Bond | ||||||||
| 2.707% 10/01/33 | 375,000 | 310,812 | ||||||
| New York City Transitional Finance Authority Future Tax Secured Revenue | ||||||||
| Revenue, 4.600% 5/01/31 | 1,195,000 | 1,193,409 | ||||||
| Revenue Bond, 5.130% 2/01/35 | 1,033,000 | 1,052,296 | ||||||
| Revenue Bond, 5.150% 2/01/36 | 1,033,000 | 1,049,064 | ||||||
| New York State Dormitory Authority, Revenue Bond | ||||||||
| 5.628% 3/15/39 | 860,000 | 890,481 | ||||||
| 5,304,456 | ||||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $5,511,403) | 5,304,456 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 16.0% | ||||||||
| Commercial Mortgage-Backed Securities — 3.0% | ||||||||
| BAMLL Commercial Mortgage Securities Trust | ||||||||
| Series 2019-BPR, Class AMP, 3.287% 11/05/32 (b) | 1,920,000 | 1,749,990 | ||||||
| Series 2018-PARK, Class A, 4.091% VRN 8/10/38 (b) (e) | 1,280,000 | 1,177,009 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2020-VIV4, Class A, 2.843% 3/09/44 (b) | 2,870,000 | 2,459,704 | ||||||
| Series 2019-XL, Class A, 1 mo. USD Term SOFR + 1.034% 6.396% FRN 10/15/36 (b) | 1,040,558 | 1,037,957 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2022-CSMO, Class A, 1 mo. USD Term SOFR + 2.115% 7.477% FRN 6/15/27 (b) | $ | 1,641,000 | $ | 1,642,026 | ||||
| BX Trust | ||||||||
| Series 2019-OC11, Class A, 3.202% 12/09/41 (b) | 420,000 | 371,553 | ||||||
| Series 2019-OC11, Class E, 3.944% VRN 12/09/41 (b) (e) | 700,000 | 586,805 | ||||||
| Series 2022-VAMF, Class C, 1 mo. USD Term SOFR + 1.580% 6.942% FRN 1/15/39 (b) | 1,057,000 | 1,026,602 | ||||||
| Series 2022-PSB, Class D, 1 mo. USD Term SOFR + 4.693% 10.055% FRN 8/15/39 (b) | 1,186,930 | 1,183,592 | ||||||
| Century Plaza Towers | ||||||||
| Series 2019-CPT, Class A, 2.865% 11/13/39 (b) | 805,000 | 679,749 | ||||||
| Series 2019-CPT, Class B, 2.997% VRN 11/13/39 (b) (e) | 1,000,000 | 777,660 | ||||||
| Citigroup Commercial Mortgage Trust, Series 2020-420K, Class D, | ||||||||
| 3.312% VRN 11/10/42 (b) (e) | 700,000 | 548,432 | ||||||
| Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class F, 1 mo. USD Term SOFR + 2.697% | ||||||||
| 8.059% FRN 5/15/36 (b) | 3,881,344 | 3,842,736 | ||||||
| DC Office Trust, Series 2019-MTC, Class A | ||||||||
| 2.965% 9/15/45 (b) | 860,000 | 706,638 | ||||||
| Hudson Yards Mortgage Trust | ||||||||
| Series 2019-55HY, Class A, 2.943% VRN 12/10/41 (b) (e) | 860,000 | 745,488 | ||||||
| Series 2019-30HY, Class A, 3.228% 7/10/39 (b) | 880,000 | 780,045 | ||||||
| JP Morgan Chase Commercial Mortgage Securities Trust | ||||||||
| Series 2019-OSB, Class A, 3.397% 6/05/39 (b) | 900,000 | 811,312 | ||||||
| Series 2021-HTL5, Class A, 1 mo. USD Term SOFR + 1.229% 6.592% FRN 11/15/38 (b) | 2,138,000 | 2,100,574 | ||||||
| MKT Mortgage Trust, Series 2020-525M, Class A | ||||||||
| 2.694% 2/12/40 (b) | 570,000 | 429,680 | ||||||
| One Bryant Park Trust, Series 2019-OBP, Class A | ||||||||
| 2.516% 9/15/54 (b) | 1,085,000 | 915,923 | ||||||
| SFAVE Commercial Mortgage Securities Trust, Series 2015-5AVE, Class A2B, | ||||||||
| 4.144% VRN 1/05/43 (b) (e) | 50,000 | 35,164 | ||||||
| TTAN, Series 2021-MHC, Class E, 1 mo. USD Term SOFR + 2.514% | ||||||||
| 7.877% FRN 3/15/38 (b) | 1,158,264 | 1,111,921 | ||||||
| 24,720,560 | ||||||||
| Home Equity Asset-Backed Securities — 0.6% | ||||||||
| Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2005-W2, Class M1, 1 mo. USD Term SOFR + 0.849% | ||||||||
| 6.205% FRN 10/25/35 | 1,311,769 | 1,271,759 | ||||||
| Morgan Stanley Capital I, Inc. Trust, Series 2006-HE1, Class A4, 1 mo. USD Term SOFR + 0.694% | ||||||||
| 6.050% FRN 1/25/36 | 1,686,900 | 1,587,972 | ||||||
| Option One Mortgage Loan Trust, Series 2006-3, Class 1A1, 1 mo. USD Term SOFR + 0.254% | ||||||||
| 5.610% FRN 2/25/37 | 3,453,429 | 2,124,436 | ||||||
| 4,984,167 | ||||||||
| Other Asset-Backed Securities — 5.2% | ||||||||
| AIMCO CLO 11 Ltd., Series 2020-11A, Class AR, 3 mo. USD Term SOFR + 1.392% | ||||||||
| 6.794% FRN 10/17/34 (b) | 2,075,000 | 2,073,481 | ||||||
| Allegro CLO VIII Ltd., Series 2018-2A, Class A, 3 mo. USD Term SOFR + 1.362% | ||||||||
| 6.756% FRN 7/15/31 (b) | 2,046,156 | 2,046,092 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| AMMC CLO 15 Ltd., Series 2014-15A, Class AR3, 3 mo. USD Term SOFR + 1.382% | ||||||||
| 6.776% FRN 1/15/32 (b) | $ | 2,000,000 | $ | 1,996,872 | ||||
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class A, 1 mo. USD Term SOFR + 1.184% | ||||||||
| 6.546% FRN 8/15/34 (b) | 2,018,000 | 1,996,790 | ||||||
| CIFC Funding Ltd., Series 2014-5A, Class BR2, 3 mo. USD Term SOFR + 2.062% | ||||||||
| 7.464% FRN 10/17/31 (b) | 1,600,000 | 1,599,448 | ||||||
| CIM Trust, Series 2023-NR1, Class A1, | ||||||||
| 6.000% STEP 6/25/62 (b) | 3,334,906 | 3,235,216 | ||||||
| Clover CLO Ltd., Series 2019-2A, Class BR, 3 mo. USD Term SOFR + 1.862% | ||||||||
| 7.240% FRN 10/25/33 (b) | 2,400,000 | 2,381,134 | ||||||
| Countrywide Asset-Backed Certificates Trust | ||||||||
| Series 2007-7, Class 1A, 1 mo. USD Term SOFR + 0.314% 5.670% FRN 10/25/47 | 2,590,606 | 2,407,635 | ||||||
| Series 2004-5, Class M1, 1 mo. USD Term SOFR + 0.969% 6.325% FRN 8/25/34 | 99,035 | 98,979 | ||||||
| CRSO Trust | ||||||||
| 7.121% 7/12/40 | 2,780,000 | 2,894,254 | ||||||
| Flatiron CLO 21 Ltd., Series 2021-1A, Class B, 3 mo. USD Term SOFR + 1.862% | ||||||||
| 7.258% FRN 7/19/34 (b) | 2,400,000 | 2,385,732 | ||||||
| GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class AR2, 3 mo. USD Term SOFR + 1.372% | ||||||||
| 6.762% FRN 10/29/29 (b) | 742,116 | 742,165 | ||||||
| GSAMP Trust, Series 2006-HE1, Class M1, 1 mo. USD Term SOFR + 0.699% | ||||||||
| 6.055% FRN 1/25/36 | 106,087 | 105,714 | ||||||
| Magnetite VII Ltd., Series 2012-7A, Class A1R2, 3 mo. USD Term SOFR + 1.062% | ||||||||
| 6.456% FRN 1/15/28 (b) | 803,532 | 801,564 | ||||||
| Morgan Stanley Capital I, Inc. Trust, Series 2006-NC2, Class A2D, 1 mo. USD Term SOFR + 0.694% | ||||||||
| 6.050% FRN 2/25/36 | 1,157,355 | 1,135,962 | ||||||
| Preston Ridge Partners Mortgage LLC | ||||||||
| Series 2021-5, Class A1, 1.793% STEP 6/25/26 (b) | 3,299,565 | 3,115,605 | ||||||
| Series 2021-6, Class A1, 1.793% STEP 7/25/26 (b) | 1,351,966 | 1,285,941 | ||||||
| Series 2022-1, Class A1, 3.720% STEP 2/25/27 (b) | 3,268,238 | 3,150,211 | ||||||
| Series 2022-4, Class A1, 5.000% STEP 8/25/27 (b) | 791,540 | 782,519 | ||||||
| Progress Residential Trust | ||||||||
| Series 2021-SFR8, Class C, 1.931% 10/17/38 (b) | 2,500,000 | 2,232,253 | ||||||
| Series 2020-SFR3, Class F, 2.796% 10/17/27 (b) | 860,000 | 801,277 | ||||||
| Series 2021-SFR10, Class F, 4.608% 12/17/38 (b) | 1,151,726 | 978,074 | ||||||
| Rockford Tower CLO Ltd., Series 2019-1A, Class AR, 3 mo. USD Term SOFR + 1.382% | ||||||||
| 6.797% FRN 4/20/34 (b) | 2,435,000 | 2,427,612 | ||||||
| Vantage Data Centers Issuer LLC, Series 2020-1A, Class A2 | ||||||||
| 1.645% 9/15/45 (b) | 1,062,000 | 980,296 | ||||||
| VOLT CIII LLC, Series 2021-CF1, Class A1, | ||||||||
| 1.992% STEP 8/25/51 (b) | 2,099,702 | 1,974,070 | ||||||
| 43,628,896 | ||||||||
| Student Loans Asset-Backed Securities — 1.5% | ||||||||
| Access Group, Inc., Series 2015-1, Class A, 30 day USD SOFR Average + 0.814% | ||||||||
| 6.152% FRN 7/25/56 (b) | 1,106,642 | 1,059,608 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Nelnet Student Loan Trust | ||||||||
| Series 2005-4, Class A4, 90 day USD SOFR Average + 0.442% 5.794% FRN 3/22/32 | $ | 2,024,086 | $ | 1,924,276 | ||||
| Series 2006-1, Class A6, 3 mo. USD Term SOFR + 0.712% 6.090% FRN 8/23/36 (b) | 1,331,213 | 1,303,699 | ||||||
| SLM Student Loan Trust | ||||||||
| Series 2014-1, Class A3, 30 day USD SOFR Average + 0.714% 6.052% FRN 2/26/29 | 1,128,857 | 1,080,096 | ||||||
| Series 2012-7, Class A3, 30 day USD SOFR Average + 0.764% 6.102% FRN 5/26/26 | 1,952,828 | 1,878,398 | ||||||
| Series 2008-5, Class B, 90 day USD SOFR Average + 2.112% 7.446% FRN 7/25/73 | 3,735,000 | 3,667,313 | ||||||
| Wachovia Student Loan Trust, Series 2006-1, Class A6, 90 day USD SOFR Average + 0.432% | ||||||||
| 5.766% FRN 4/25/40 (b) | 1,362,990 | 1,315,743 | ||||||
| 12,229,133 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 5.7% | ||||||||
| Ajax Mortgage Loan Trust | ||||||||
| Series 2019-F, 2.860% STEP 7/25/59 (b) | 1,539,290 | 1,462,564 | ||||||
| Series 2022-B, Class A1, 3.500% STEP 3/27/62 (b) | 2,684,295 | 2,506,394 | ||||||
| American Home Mortgage Investment Trust, Series 2006-1, Class 12A1, 1 mo. USD Term SOFR + 0.514% | ||||||||
| 5.870% FRN 3/25/46 | 1,327,152 | 1,136,979 | ||||||
| Bear Stearns ALT-A Trust, Series 2005-4, Class 25A1, | ||||||||
| 4.306% VRN 5/25/35 (e) | 608,499 | 559,010 | ||||||
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, | ||||||||
| 3.000% VRN 2/25/61 (b) (e) | 2,466,998 | 2,244,117 | ||||||
| CIM Trust, Series 2021-J3, Class A1, | ||||||||
| 2.500% VRN 6/25/51 (b) (e) | 5,125,278 | 4,189,114 | ||||||
| Citigroup Mortgage Loan Trust, Series 2006-AR2, Class 1A2, | ||||||||
| 4.412% VRN 3/25/36 (e) | 1,966 | 1,849 | ||||||
| COLT Mortgage Loan Trust, Series 2023-1, Class A1, | ||||||||
| 6.048% STEP 4/25/68 (b) | 2,590,412 | 2,593,563 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2021-NQM6, Class A1, 1.174% VRN 7/25/66 (b) (e) | 2,840,400 | 2,246,943 | ||||||
| Series 2018-RPL9, Class A, 3.850% VRN 9/25/57 (b) (e) | 1,437,048 | 1,366,241 | ||||||
| Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2007-OA3, Class A2, 1 mo. USD Term SOFR + 0.364% | ||||||||
| 5.720% FRN 7/25/47 | 2,818,238 | 2,395,817 | ||||||
| First Horizon Alternative Mortgage Securities Trust, Series 2005-AA9, Class 2A1, | ||||||||
| 6.217% VRN 11/25/35 (e) | 1,099,659 | 937,262 | ||||||
| GS Mortgage-Backed Securities Trust, Series 2022-PJ6 , Class A4, | ||||||||
| 3.000% VRN 1/25/53 (b) (e) | 4,006,796 | 3,413,915 | ||||||
| HarborView Mortgage Loan Trust | ||||||||
| Series 2007-6, Class 1A1A, 1 mo. USD Term SOFR + 0.314% 5.670% FRN 8/19/37 | 2,210,906 | 1,810,241 | ||||||
| Series 2006-10, Class 1A1A, 1 mo. USD Term SOFR + 0.514% 5.846% FRN 11/19/36 | 2,522,860 | 1,871,468 | ||||||
| Series 2007-3, Class 2A1A, 1 mo. USD Term SOFR + 0.514% 5.870% FRN 5/19/37 | 2,787,645 | 2,540,583 | ||||||
| HomeBanc Mortgage Trust, Series 2005-5, Class A1, 1 mo. USD Term SOFR + 0.634% | ||||||||
| 5.990% FRN 1/25/36 | 1,509,183 | 1,441,346 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2021-13, Class A3, 2.500% VRN 4/25/52 (b) (e) | 3,614,700 | 2,958,971 | ||||||
| Series 2005-A5, Class 1A2, 4.386% VRN 8/25/35 (e) | 73,403 | 70,471 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| MASTR Adjustable Rate Mortgages Trust, Series 2004-3, Class 4A1, | ||||||||
| 3.844% VRN 4/25/34 (e) | $ | 451,147 | $ | 399,435 | ||||
| Onslow Bay Mortgage Loan Trust, Series 2021-NQM4, Class A1, | ||||||||
| 1.957% VRN 10/25/61 (b) (e) | 3,655,565 | 2,984,088 | ||||||
| Residential Accredit Loans, Inc. Trust, Series 2006-QA7, Class 2A1, 1 mo. USD Term SOFR + 0.484% | ||||||||
| 5.840% FRN 8/25/36 | 471,605 | 397,746 | ||||||
| Residential Asset Securitization Trust, Series 2006-A14C, Class 1A1 | ||||||||
| 6.250% 12/25/36 | 1,801,335 | 1,253,353 | ||||||
| Structured Asset Mortgage Investments II Trust, Series 2006-AR1, Class 3A1, 1 mo. USD Term SOFR + 0.574% | ||||||||
| 5.930% FRN 2/25/36 | 1,325,932 | 1,083,696 | ||||||
| Washington Mutual Mortgage Pass-Through Certificates Trust | ||||||||
| Series 2006-AR12, Class 1A4, 4.490% VRN 10/25/36 (e) | 3,659,097 | 3,283,116 | ||||||
| Series 2005-AR2, Class 2A1A, 1 mo. USD Term SOFR + 0.734% 6.090% FRN 1/25/45 | 428,789 | 418,144 | ||||||
| Series 2005-7, Class 4CB, 7.000% 8/25/35 | 2,106,954 | 1,628,945 | ||||||
| Wells Fargo Mortgage-Backed Securities Trust, Series 2007-AR3, Class A4, | ||||||||
| 4.675% VRN 4/25/37 (e) | 654,661 | 571,289 | ||||||
| 47,766,660 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $137,582,052) | 133,329,416 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 0.5% | ||||||||
| Brazilian Government International Bond | ||||||||
| 3.875% 6/12/30 | 730,000 | 668,046 | ||||||
| Chile Government International Bond | ||||||||
| 3.500% 1/31/34 (d) | 200,000 | 178,157 | ||||||
| Colombia Government International Bond | ||||||||
| 3.125% 4/15/31 | 200,000 | 162,628 | ||||||
| Dominican Republic International Bond | ||||||||
| 4.500% 1/30/30 (b) | 440,000 | 404,800 | ||||||
| Guatemala Government Bond | ||||||||
| 3.700% 10/07/33 (b) | 300,000 | 249,750 | ||||||
| Hungary Government International Bond | ||||||||
| 2.125% 9/22/31 (b) | 250,000 | 201,320 | ||||||
| 5.250% 6/16/29 (b) | 200,000 | 200,909 | ||||||
| Mexico Government International Bond | ||||||||
| 2.659% 5/24/31 | 413,000 | 349,121 | ||||||
| 4.750% 4/27/32 | 200,000 | 192,469 | ||||||
| Oman Government International Bond | ||||||||
| 6.750% 10/28/27 (b) | 200,000 | 211,000 | ||||||
| Panama Government International Bond | ||||||||
| 2.252% 9/29/32 | 200,000 | 145,620 | ||||||
| 3.160% 1/23/30 | 425,000 | 361,356 | ||||||
| Paraguay Government International Bond | ||||||||
| 4.950% 4/28/31 (b) | 200,000 | 195,200 | ||||||
| Perusahaan Penerbit SBSN Indonesia III | ||||||||
| 2.800% 6/23/30 (b) | 200,000 | 180,500 | ||||||
| Peruvian Government International Bond | ||||||||
| 2.783% 1/23/31 | 250,000 | 217,266 | ||||||
| Poland Government International Bond | ||||||||
| 4.875% 10/04/33 | 200,000 | 202,180 | ||||||
| Romania Government International Bond | ||||||||
| 3.000% 2/14/31 (b) | 270,000 | 228,931 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| South Africa Government International Bond | ||||||||
| 5.875% 4/20/32 | $ | 200,000 | $ | 189,424 | ||||
| 4,538,677 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $4,892,493) | 4,538,677 | |||||||
| U.S. Government Agency Obligations and Instrumentalities (f) — 40.5% | ||||||||
| Collateralized Mortgage Obligations — 2.5% | ||||||||
| Federal Home Loan Banks | ||||||||
| 5.300% 5/22/24 | 8,450,000 | 8,441,830 | ||||||
| 5.370% 5/21/24 | 8,300,000 | 8,292,538 | ||||||
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K155, Class A3 3.750% 4/25/33 | 2,115,000 | 1,986,163 | ||||||
| Federal National Mortgage Association REMICS | ||||||||
| Series 2018-43, Class CT, 3.000% 6/25/48 | 506,126 | 451,433 | ||||||
| Series 2018-55, Class PA, 3.500% 1/25/47 | 338,479 | 328,855 | ||||||
| Series 2018-54, Class KA, 3.500% 1/25/47 | 326,165 | 316,891 | ||||||
| Series 2018-38, Class PA, 3.500% 6/25/47 | 554,277 | 531,984 | ||||||
| Government National Mortgage Association REMICS | ||||||||
| Series 2018-124, Class NW, 3.500% 9/20/48 | 476,778 | 438,576 | ||||||
| Series 2019-15, Class GT, 3.500% 2/20/49 | 510,164 | 467,191 | ||||||
| 21,255,461 | ||||||||
| Pass-Through Securities — 37.7% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #SD8193 2.000% 2/01/52 | 3,961,283 | 3,239,702 | ||||||
| Pool #SD8199 2.000% 3/01/52 | 7,287,244 | 5,959,812 | ||||||
| Pool #QE0312 2.000% 4/01/52 | 1,911,588 | 1,563,377 | ||||||
| Pool #SD8147 2.500% 5/01/51 | 3,135,919 | 2,683,506 | ||||||
| Pool #SD8189 2.500% 1/01/52 | 2,232,533 | 1,902,427 | ||||||
| Pool #SD8194 2.500% 2/01/52 | 3,670,234 | 3,127,546 | ||||||
| Pool #SD8200 2.500% 3/01/52 | 2,196,939 | 1,872,095 | ||||||
| Pool #SD8205 2.500% 4/01/52 | 3,913,477 | 3,333,600 | ||||||
| Pool #SD8212 2.500% 5/01/52 | 3,832,672 | 3,264,768 | ||||||
| Pool #G18596 3.000% 4/01/31 | 200,380 | 192,410 | ||||||
| Pool #G18691 3.000% 6/01/33 | 75,531 | 72,364 | ||||||
| Pool #G08710 3.000% 6/01/46 | 52,523 | 47,610 | ||||||
| Pool #G08715 3.000% 8/01/46 | 1,125,152 | 1,019,897 | ||||||
| Pool #G08721 3.000% 9/01/46 | 151,248 | 137,099 | ||||||
| Pool #G08726 3.000% 10/01/46 | 2,029,781 | 1,839,900 | ||||||
| Pool #G08732 3.000% 11/01/46 | 1,440,771 | 1,305,990 | ||||||
| Pool #G08741 3.000% 1/01/47 | 977,214 | 885,187 | ||||||
| Pool #SD3016 3.000% 6/01/52 | 2,158,165 | 1,911,128 | ||||||
| Pool #G18713 3.500% 11/01/33 | 560,536 | 543,568 | ||||||
| Pool #G16756 3.500% 1/01/34 | 224,279 | 217,910 | ||||||
| Pool #G60038 3.500% 1/01/44 | 496,923 | 469,806 | ||||||
| Pool #G07848 3.500% 4/01/44 | 3,839,292 | 3,627,074 | ||||||
| Pool #G07924 3.500% 1/01/45 | 1,051,062 | 988,263 | ||||||
| Pool #G60138 3.500% 8/01/45 | 2,194,556 | 2,076,465 | ||||||
| Pool #G08711 3.500% 6/01/46 | 857,230 | 801,725 | ||||||
| Pool #G08716 3.500% 8/01/46 | 1,230,898 | 1,151,199 | ||||||
| Pool #G08792 3.500% 12/01/47 | 1,046,312 | 977,257 | ||||||
| Pool #G67707 3.500% 1/01/48 | 1,432,522 | 1,353,199 | ||||||
| Pool #G67711 4.000% 3/01/48 | 391,889 | 378,887 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #G67713 4.000% 6/01/48 | $ | 1,027,797 | $ | 993,055 | ||||
| Pool #G67714 4.000% 7/01/48 | 1,402,983 | 1,355,997 | ||||||
| Pool #G67717 4.000% 11/01/48 | 1,255,976 | 1,213,914 | ||||||
| Pool #G08843 4.500% 10/01/48 | 452,797 | 447,142 | ||||||
| Pool #G08826 5.000% 6/01/48 | 152,071 | 153,203 | ||||||
| Pool #G08844 5.000% 10/01/48 | 51,391 | 51,710 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4093 2.000% 8/01/40 | 771,349 | 664,347 | ||||||
| Pool #MA4176 2.000% 11/01/40 | 2,040,779 | 1,757,681 | ||||||
| Pool #MA4333 2.000% 5/01/41 | 629,893 | 541,530 | ||||||
| Pool #MA4158 2.000% 10/01/50 | 2,788,720 | 2,293,804 | ||||||
| Pool #BT9728 2.000% 10/01/51 | 4,866,360 | 3,979,912 | ||||||
| Pool #BQ6913 2.000% 12/01/51 | 4,130,123 | 3,377,787 | ||||||
| Pool #CB2767 2.000% 1/01/52 | 3,987,657 | 3,271,241 | ||||||
| Pool #CB2766 2.000% 2/01/52 | 2,685,328 | 2,203,725 | ||||||
| Pool #FS1598 2.000% 4/01/52 | 4,028,779 | 3,294,904 | ||||||
| Pool #MA4577 2.000% 4/01/52 (g) | 7,975,862 | 6,522,993 | ||||||
| Pool #BL6060 2.455% 4/01/40 | 1,265,000 | 942,626 | ||||||
| Pool #MA4548 2.500% 2/01/52 | 3,692,835 | 3,146,805 | ||||||
| Pool #MA4563 2.500% 3/01/52 | 3,786,079 | 3,226,263 | ||||||
| Pool #MA3029 3.000% 6/01/32 | 201,503 | 193,280 | ||||||
| Pool #MA1607 3.000% 10/01/33 | 1,562,279 | 1,485,243 | ||||||
| Pool #BN7755 3.000% 9/01/49 | 1,635,581 | 1,471,107 | ||||||
| Pool #MA3811 3.000% 10/01/49 | 456,975 | 403,881 | ||||||
| Pool #BO2259 3.000% 10/01/49 | 2,851,368 | 2,559,288 | ||||||
| Pool #MA4579 3.000% 4/01/52 | 3,685,665 | 3,267,811 | ||||||
| Pool #BV8526 3.000% 5/01/52 | 4,314,021 | 3,820,212 | ||||||
| Pool #AB4262 3.500% 1/01/32 | 1,056,549 | 1,027,270 | ||||||
| Pool #MA1148 3.500% 8/01/42 | 2,106,826 | 1,979,788 | ||||||
| Pool #CA0996 3.500% 1/01/48 | 73,718 | 69,049 | ||||||
| Pool #MA3276 3.500% 2/01/48 | 162,195 | 151,263 | ||||||
| Pool #MA3305 3.500% 3/01/48 | 547,582 | 510,676 | ||||||
| Pool #MA3332 3.500% 4/01/48 | 21,944 | 20,465 | ||||||
| Pool #CA3633 3.500% 6/01/49 | 629,720 | 588,262 | ||||||
| Pool #MA2995 4.000% 5/01/47 | 450,398 | 433,406 | ||||||
| Pool #AS9830 4.000% 6/01/47 | 256,932 | 247,239 | ||||||
| Pool #MA3027 4.000% 6/01/47 | 417,676 | 401,919 | ||||||
| Pool #AS9972 4.000% 7/01/47 | 233,674 | 224,859 | ||||||
| Pool #AL9106 4.500% 2/01/46 | 203,050 | 201,995 | ||||||
| Pool #CA1710 4.500% 5/01/48 | 807,278 | 796,779 | ||||||
| Pool #CA1711 4.500% 5/01/48 | 14,592 | 14,402 | ||||||
| Pool #CA2208 4.500% 8/01/48 | 573,546 | 565,728 | ||||||
| Pool #BW9897 4.500% 10/01/52 | 2,059,947 | 1,998,619 | ||||||
| Pool #FS4233 4.500% 12/01/52 | 1,509,146 | 1,464,405 | ||||||
| Pool #CB6854 4.500% 8/01/53 | 2,586,814 | 2,509,316 | ||||||
| Pool #BY0545 5.000% 5/01/53 | 1,595,910 | 1,579,832 | ||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA4126 3.000% 12/20/46 | 1,307,154 | 1,200,896 | ||||||
| Pool #MA4836 3.000% 11/20/47 | 921,613 | 845,256 | ||||||
| Pool #MA6209 3.000% 10/20/49 | 396,845 | 350,448 | ||||||
| Pool #MA4127 3.500% 12/20/46 | 887,241 | 837,194 | ||||||
| Pool #MA4382 3.500% 4/20/47 | 150,744 | 142,193 | ||||||
| Pool #MA4719 3.500% 9/20/47 | 1,320,468 | 1,245,158 | ||||||
| Pool #MA4837 3.500% 11/20/47 | 180,038 | 169,658 | ||||||
| Pool #MA4962 3.500% 1/20/48 | 449,517 | 423,599 | ||||||
| Pool #MA5019 3.500% 2/20/48 | 618,257 | 582,609 | ||||||
| Pool #MA4838 4.000% 11/20/47 | 376,249 | 365,333 | ||||||
| Pool #MA4901 4.000% 12/20/47 | 311,253 | 301,834 | ||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA5078 4.000% 3/20/48 | $ | 251,547 | $ | 243,698 | ||||
| Pool #MA5466 4.000% 9/20/48 | 174,980 | 169,193 | ||||||
| Pool #MA5528 4.000% 10/20/48 | 701,368 | 678,170 | ||||||
| Pool #MA4264 4.500% 2/20/47 | 190,577 | 190,010 | ||||||
| Pool #MA4512 4.500% 6/20/47 | 1,170,876 | 1,166,661 | ||||||
| Pool #MA3666 5.000% 5/20/46 | 26,449 | 26,914 | ||||||
| Pool #MA3806 5.000% 7/20/46 | 171,473 | 174,430 | ||||||
| Pool #MA4072 5.000% 11/20/46 | 34,616 | 35,177 | ||||||
| Pool #MA4454 5.000% 5/20/47 | 622,922 | 633,519 | ||||||
| Government National Mortgage Association II, TBA | ||||||||
| 2.500% 1/20/54 (g) | 11,675,000 | 10,226,936 | ||||||
| 4.500% 1/20/54 (g) | 12,775,000 | 12,471,827 | ||||||
| 5.000% 1/20/54 (g) | 11,125,000 | 11,057,448 | ||||||
| 5.500% 1/20/54 (g) | 6,225,000 | 6,263,618 | ||||||
| Uniform Mortgage-Backed Security, TBA | ||||||||
| 2.000% 1/01/54 (g) | 17,850,000 | 14,595,442 | ||||||
| 2.500% 1/01/54 (g) | 13,325,000 | 11,349,153 | ||||||
| 3.000% 1/01/54 (g) | 19,050,000 | 16,862,226 | ||||||
| 3.500% 1/01/54 (g) | 13,675,000 | 12,553,223 | ||||||
| 4.000% 1/01/54 (g) | 37,525,000 | 35,513,878 | ||||||
| 4.500% 1/01/54 (g) | 33,375,000 | 32,378,950 | ||||||
| 5.000% 1/01/54 (g) | 15,525,000 | 15,369,742 | ||||||
| 5.500% 1/01/54 (g) | 11,875,000 | 11,933,453 | ||||||
| 314,726,350 | ||||||||
| Whole Loans — 0.3% | ||||||||
| Federal National Mortgage Association Connecticut Avenue Securities, Series 2022-R03, Class 1M2, 30 day USD SOFR Average + 3.500% | ||||||||
| 8.837% FRN 3/25/42 (b) | 2,400,000 | 2,508,875 | ||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $342,136,886) | 338,490,686 | |||||||
| U.S. TREASURY OBLIGATIONS — 31.3% | ||||||||
| U.S. Treasury Bonds & Notes — 31.3% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 4.375% 8/15/43 | 29,605,000 | 30,271,115 | ||||||
| 4.750% 11/15/43 (d) | 21,150,000 | 22,726,515 | ||||||
| 4.750% 11/15/53 | 29,299,000 | 32,943,063 | ||||||
| U.S. Treasury Notes | ||||||||
| 3.750% 12/31/28 | 25,100,000 | 24,985,569 | ||||||
| 4.250% 12/31/25 | 340,000 | 339,934 | ||||||
| 4.375% 12/15/26 | 38,115,000 | 38,496,150 | ||||||
| 4.375% 11/30/28 | 32,170,000 | 32,924,846 | ||||||
| 4.500% 11/15/33 | 31,845,000 | 33,447,202 | ||||||
| 4.875% 11/30/25 | 60,000 | 60,629 | ||||||
| 4.875% 10/31/28 | 43,780,000 | 45,706,386 | ||||||
| 261,901,409 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $252,563,652) | 261,901,409 | |||||||
| TOTAL BONDS & NOTES (Cost $954,340,729) | 948,067,616 | |||||||
| MassMutual Total Return Bond Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| EQUITIES — 0.1% | ||||||||
| COMMON STOCK — 0.1% | ||||||||
| Communications — 0.1% | ||||||||
| Telecommunications — 0.1% | ||||||||
| Intelsat SA (h) | 16,791 | $ | 477,502 | |||||
| TOTAL COMMON STOCK (Cost $1,575,355) | 477,502 | |||||||
| TOTAL EQUITIES (Cost $1,575,355) | 477,502 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $955,916,084) | 948,545,118 | |||||||
| SHORT-TERM INVESTMENTS — 13.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.7% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (i) | 13,775,725 | 13,775,725 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 4.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (j) | $ | 35,084,826 | 35,084,826 | |||||
| U.S. Treasury Bill — 7.3% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.374% 4/16/24 (k) | 6,695,000 | 6,593,215 | ||||||
| 5.380% 4/16/24 (k) | 11,790,000 | 11,610,755 | ||||||
| 5.385% 4/23/24 (k) | 9,190,000 | 9,040,969 | ||||||
| 5.401% 4/02/24 (k) | 14,655,000 | 14,461,349 | ||||||
| 5.429% 5/16/24 (k) | 5,780,000 | 5,668,861 | ||||||
| 5.516% 4/11/24 (k) | 14,205,000 | 14,000,350 | ||||||
| 61,375,499 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $110,218,637) | 110,236,050 | |||||||
| TOTAL INVESTMENTS — 126.7% (Cost $1,066,134,721) (l) | 1,058,781,168 | |||||||
| Other Assets/(Liabilities) — (26.7)% | (222,909,753) | |||||||
| NET ASSETS — 100.0% | $ | 835,871,415 | ||||||
Abbreviation Legend
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury Index |
| FRN | Floating Rate Note |
| LIBOR | London InterBank Offered Rate |
| REMICS | Real Estate Mortgage Investment Conduits |
| SOFR | Secured Overnight Financing Rate |
| 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 December 31, 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 December 31, 2023, the aggregate market value of these securities amounted to $162,120,128 or 19.40% of net assets. |
| (c) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (d) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $13,492,472 or 1.61% of net assets. (Note 2). |
| (e) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2023. |
| (f) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (g) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (h) | Non-income producing security. |
| (i) | Represents investment of security lending cash collateral. (Note 2). |
| (j) | Maturity value of $35,091,063. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $35,786,595. |
| (k) | The rate shown represents yield-to-maturity. |
| (l) | 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. | 1/12/24 | USD | 106,362 | EUR | 99,000 | $ | (2,967) | |||||||||
| Citibank N.A. | 1/12/24 | EUR | 159,000 | USD | 170,488 | 5,101 | ||||||||||
| Citibank N.A. | 1/12/24 | USD | 7,289,132 | EUR | 6,874,000 | (302,060) | ||||||||||
| Citibank N.A. | 1/12/24 | USD | 912,457 | GBP | 746,000 | (38,479) | ||||||||||
| Goldman Sachs International | 1/12/24 | USD | 212,211 | EUR | 198,000 | (6,447) | ||||||||||
| $ | (344,852) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Ultra Bond | 3/19/24 | 40 | $ | 4,861,358 | $ | 482,392 | ||||||||
| U.S. Treasury Note 2 Year | 3/28/24 | 1,174 | 239,377,598 | 2,365,511 | ||||||||||
| U.S. Treasury Note 5 Year | 3/28/24 | 130 | 13,870,195 | 270,352 | ||||||||||
| $ | 3,118,255 | |||||||||||||
| Short | ||||||||||||||
| Euro-BOBL | 3/07/24 | 16 | $ | (2,091,656) | $ | (15,211) | ||||||||
| Euro-Bund | 3/07/24 | 28 | (4,136,731) | (104,822) | ||||||||||
| Euro-Buxl 30 Year Bond | 3/07/24 | 6 | (866,373) | (72,338) | ||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 19 | (2,144,960) | (97,337) | ||||||||||
| $ | (289,708) | |||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Fixed 3.520% | Annually | 12-Month USD SOFR | Annually | 12/20/53 | USD | 4,836,000 | $ | (179,282) | $ | — | $ | (179,282) | ||||||||||||||||||||
Currency Legend
| EUR | Euro |
| GBP | British Pound |
| USD | U.S. Dollar |
| MassMutual Strategic Bond Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 96.6% | ||||||||
| BANK LOANS — 1.6% | ||||||||
| Airlines — 0.0% | ||||||||
| United Airlines, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 4/21/28 | $ | 64,216 | $ | 64,358 | ||||
| Auto Parts & Equipment — 0.0% | ||||||||
| Clarios Global LP, 2023 Incremental Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.106% VRN 5/06/30 | 69,825 | 69,912 | ||||||
| Beverages — 0.1% | ||||||||
| Triton Water Holdings, Inc., Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.860% VRN 3/31/28 | 240,187 | 237,665 | ||||||
| Building Materials — 0.1% | ||||||||
| Emrld Borrower LP, Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.356% VRN 5/31/30 | 149,625 | 150,056 | ||||||
| Quikrete Holdings, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 3/19/29 | 138,589 | 138,936 | ||||||
| 288,992 | ||||||||
| Commercial Services — 0.0% | ||||||||
| APi Group DE, Inc., 2023 Term Loan, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.720% VRN 10/01/26 | 89,014 | 89,062 | ||||||
| Computers — 0.1% | ||||||||
| Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.206% VRN 2/01/28 | 319,931 | 320,331 | ||||||
| Diversified Financial Services — 0.2% | ||||||||
| Avolon TLB Borrower 1 (US) LLC, 2021 Term Loan B5, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.708% VRN 12/01/27 | 37,173 | 37,184 | ||||||
| Castlelake Aviation Ltd., Term Loan B, 3 mo. USD Term SOFR + 2.750% | ||||||||
| 8.396% VRN 10/22/26 | 114,481 | 114,593 | ||||||
| Citadel Securities LP, 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.970% VRN 7/29/30 | 20,102 | 20,127 | ||||||
| Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 9.098% VRN 4/09/27 | 225,862 | 223,416 | ||||||
| Focus Financial Partners LLC, 2022 Term Loan B5, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.606% VRN 6/30/28 | 118,500 | 118,598 | ||||||
| VFH Parent LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.456% VRN 1/13/29 | 105,539 | 105,618 | ||||||
| 619,536 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Electronics — 0.0% | ||||||||
| II-VI, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 7/02/29 | $ | 141,864 | $ | 142,101 | ||||
| Entertainment — 0.2% | ||||||||
| Caesars Entertainment Corp., Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.706% VRN 2/06/30 | 19,850 | 19,878 | ||||||
| Flutter Entertainment PLC, Term Loan B, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.698% VRN 11/25/30 | 280,000 | 280,232 | ||||||
| PCI Gaming Authority, Term Loan, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.970% VRN 5/29/26 | 248,892 | 249,547 | ||||||
| Scientific Games International, Inc., 2022 USD Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.465% VRN 4/14/29 | 236,400 | 236,769 | ||||||
| 786,426 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 10/23/28 | 248,106 | 249,113 | ||||||
| Sotera Health Holdings LLC, 2021 Term Loan, 3 mo. USD Term SOFR + 2.750% | ||||||||
| 8.395% VRN 12/11/26 | 260,000 | 259,566 | ||||||
| 508,679 | ||||||||
| Health Care – Services — 0.1% | ||||||||
| Phoenix Guarantor, Inc., 2020 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.720% VRN 3/05/26 | 482,378 | 481,688 | ||||||
| Insurance — 0.1% | ||||||||
| Acrisure LLC, 2021 First Lien Term Loan B, 3 mo. USD LIBOR + 4.250% | ||||||||
| 9.900% VRN 2/15/27 | 89,318 | 89,430 | ||||||
| AmWINS Group, Inc. | ||||||||
| 2021 Term Loan B, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.720% VRN 2/19/28 | 251,340 | 251,408 | ||||||
| 2023 Incremental Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 2/19/28 | 39,600 | 39,668 | ||||||
| 380,506 | ||||||||
| Leisure Time — 0.1% | ||||||||
| Alterra Mountain Co., 2021 Series B-2 Consenting Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.970% VRN 8/17/28 | 164,095 | 164,095 | ||||||
| Lodging — 0.0% | ||||||||
| Station Casinos LLC, 2020 Term Loan B, 1 mo. USD Term SOFR + 2.250% | ||||||||
| 7.706% VRN 2/08/27 | 159,811 | 159,981 | ||||||
| Machinery – Diversified — 0.0% | ||||||||
| Ali Group North America Corp., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.470% VRN 7/30/29 | 122,292 | 122,377 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Media — 0.1% | ||||||||
| Nexstar Broadcasting, Inc., 2019 Term Loan B4, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.970% VRN 9/18/26 | $ | 160,766 | $ | 160,753 | ||||
| Virgin Media Bristol LLC, USD Term Loan N, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.976% VRN 1/31/28 | 203,954 | 202,906 | ||||||
| 363,659 | ||||||||
| Private Equity — 0.1% | ||||||||
| GTCR W Merger Sub LLC, USD Term Loan B, | ||||||||
| 0.000% 9/20/30 (a) | 380,000 | 381,425 | ||||||
| Retail — 0.1% | ||||||||
| Harbor Freight Tools USA, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 10/19/27 | 430,226 | 429,344 | ||||||
| Software — 0.1% | ||||||||
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.606% VRN 2/15/29 | 333,570 | 331,735 | ||||||
| Cloudera, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.206% VRN 10/08/28 | 91,303 | 90,276 | ||||||
| DCert Buyer, Inc., 2019 Term Loan B, 1 mo. USD Term SOFR + 4.000% | ||||||||
| 9.356% VRN 10/16/26 | 31,374 | 31,047 | ||||||
| 453,058 | ||||||||
| Transportation — 0.1% | ||||||||
| Genesee & Wyoming, Inc., Term Loan, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.448% VRN 12/30/26 | 468,931 | 469,653 | ||||||
| TOTAL BANK LOANS (Cost $6,512,624) | 6,532,848 | |||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| CORPORATE DEBT — 24.9% | ||||||||
| Aerospace & Defense — 0.9% | ||||||||
| Boeing Co. | ||||||||
| 2.196% 2/04/26 | $ | 230,000 | $ | 217,324 | ||||
| 2.700% 2/01/27 | 90,000 | 84,860 | ||||||
| 2.800% 3/01/27 | 150,000 | 141,121 | ||||||
| 3.100% 5/01/26 | 80,000 | 76,883 | ||||||
| 3.200% 3/01/29 | 210,000 | 196,391 | ||||||
| 3.250% 2/01/35 | 360,000 | 303,612 | ||||||
| 3.550% 3/01/38 | 80,000 | 65,171 | ||||||
| 3.750% 2/01/50 | 240,000 | 186,243 | ||||||
| 5.150% 5/01/30 | 160,000 | 162,882 | ||||||
| 5.705% 5/01/40 | 110,000 | 113,733 | ||||||
| 5.805% 5/01/50 | 300,000 | 310,665 | ||||||
| 5.930% 5/01/60 | 40,000 | 41,420 | ||||||
| General Dynamics Corp. | ||||||||
| 4.250% 4/01/40 | 20,000 | 18,663 | ||||||
| 4.250% 4/01/50 | 50,000 | 46,376 | ||||||
| L3Harris Technologies, Inc. | ||||||||
| 5.054% 4/27/45 | 50,000 | 49,288 | ||||||
| Lockheed Martin Corp. | ||||||||
| 3.900% 6/15/32 | 50,000 | 48,218 | ||||||
| 4.150% 6/15/53 | 260,000 | 232,395 | ||||||
| 4.500% 5/15/36 | 60,000 | 59,361 | ||||||
| Northrop Grumman Corp. | ||||||||
| 2.930% 1/15/25 | 160,000 | 156,332 | ||||||
| 3.250% 1/15/28 | 290,000 | 277,118 | ||||||
| 5.250% 5/01/50 | 160,000 | 164,689 | ||||||
| RTX Corp. | ||||||||
| 2.250% 7/01/30 | 110,000 | 95,033 | ||||||
| 3.030% 3/15/52 | 120,000 | 82,805 | ||||||
| 4.125% 11/16/28 | 160,000 | 156,316 | ||||||
| 4.500% 6/01/42 | 130,000 | 118,055 | ||||||
| 6.000% 3/15/31 | 120,000 | 127,835 | ||||||
| 3,532,789 | ||||||||
| Agriculture — 0.4% | ||||||||
| Altria Group, Inc. | ||||||||
| 2.450% 2/04/32 | 140,000 | 114,166 | ||||||
| 5.800% 2/14/39 | 160,000 | 162,975 | ||||||
| 5.950% 2/14/49 | 260,000 | 264,814 | ||||||
| 6.200% 2/14/59 | 56,000 | 59,145 | ||||||
| 6.875% 11/01/33 | 270,000 | 297,187 | ||||||
| BAT Capital Corp. | ||||||||
| 3.557% 8/15/27 | 45,000 | 42,944 | ||||||
| 4.540% 8/15/47 | 360,000 | 276,382 | ||||||
| Philip Morris International, Inc. | ||||||||
| 2.100% 5/01/30 | 40,000 | 34,313 | ||||||
| 4.500% 3/20/42 | 80,000 | 71,711 | ||||||
| Reynolds American, Inc. | ||||||||
| 5.850% 8/15/45 | 110,000 | 102,966 | ||||||
| 1,426,603 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Airlines — 0.4% | ||||||||
| American Airlines, Inc. | ||||||||
| 8.500% 5/15/29 (b) | $ | 100,000 | $ | 105,600 | ||||
| Delta Air Lines, Inc. | ||||||||
| 2.900% 10/28/24 | 180,000 | 175,198 | ||||||
| Delta Air Lines, Inc./SkyMiles IP Ltd. | ||||||||
| 4.500% 10/20/25 (b) | 213,333 | 210,092 | ||||||
| 4.750% 10/20/28 (b) | 300,000 | 295,047 | ||||||
| Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. | ||||||||
| 6.500% 6/20/27 (b) | 231,000 | 231,656 | ||||||
| Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. | ||||||||
| 8.000% 9/20/25 (b) | 240,000 | 172,600 | ||||||
| 8.000% 9/20/25 (b) | 250,000 | 179,792 | ||||||
| United Airlines, Inc. | ||||||||
| 4.375% 4/15/26 (b) | 80,000 | 77,952 | ||||||
| 4.625% 4/15/29 (b) | 290,000 | 271,218 | ||||||
| 1,719,155 | ||||||||
| Apparel — 0.1% | ||||||||
| NIKE, Inc. | ||||||||
| 2.850% 3/27/30 | 170,000 | 156,299 | ||||||
| 3.250% 3/27/40 | 130,000 | 109,189 | ||||||
| 3.375% 3/27/50 (c) | 20,000 | 16,335 | ||||||
| 281,823 | ||||||||
| Auto Manufacturers — 1.4% | ||||||||
| Ford Motor Co. | ||||||||
| 4.750% 1/15/43 | 90,000 | 74,293 | ||||||
| 6.100% 8/19/32 (c) | 90,000 | 90,723 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 2.900% 2/16/28 | 390,000 | 350,132 | ||||||
| 3.625% 6/17/31 | 220,000 | 189,673 | ||||||
| 4.000% 11/13/30 | 200,000 | 179,458 | ||||||
| 4.125% 8/17/27 | 200,000 | 189,337 | ||||||
| 4.950% 5/28/27 | 250,000 | 243,887 | ||||||
| 5.125% 6/16/25 | 200,000 | 197,375 | ||||||
| General Motors Co. | ||||||||
| 5.150% 4/01/38 | 40,000 | 37,866 | ||||||
| 5.600% 10/15/32 (c) | 40,000 | 40,898 | ||||||
| 5.950% 4/01/49 (c) | 110,000 | 107,627 | ||||||
| 6.125% 10/01/25 | 20,000 | 20,269 | ||||||
| 6.600% 4/01/36 | 10,000 | 10,703 | ||||||
| Nissan Motor Co. Ltd. | ||||||||
| 3.522% 9/17/25 (b) | 410,000 | 394,683 | ||||||
| 4.345% 9/17/27 (b) | 300,000 | 286,974 | ||||||
| Toyota Motor Credit Corp. | ||||||||
| 4.450% 5/18/26 | 3,070,000 | 3,064,966 | ||||||
| 5,478,864 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Banks — 7.1% | ||||||||
| ABN AMRO Bank NV | ||||||||
| 4.750% 7/28/25 (b) | $ | 260,000 | $ | 254,764 | ||||
| Banco Santander SA | ||||||||
| 2.746% 5/28/25 | 400,000 | 385,923 | ||||||
| Bank of America Corp. | ||||||||
| Secured Overnight Financing Rate + 1.210% 2.572% VRN 10/20/32 | 60,000 | 49,744 | ||||||
| Secured Overnight Financing Rate + 2.150% 2.592% VRN 4/29/31 | 360,000 | 310,244 | ||||||
| Secured Overnight Financing Rate + 1.330% 2.972% VRN 2/04/33 | 550,000 | 467,951 | ||||||
| 3 mo. USD Term SOFR + 1.302% 3.419% VRN 12/20/28 | 570,000 | 536,899 | ||||||
| 3 mo. USD Term SOFR + 1.632% 3.593% VRN 7/21/28 | 270,000 | 256,094 | ||||||
| 3 mo. USD Term SOFR + 1.332% 3.970% VRN 3/05/29 | 760,000 | 725,886 | ||||||
| 3 mo. USD Term SOFR + 1.472% 3.974% VRN 2/07/30 | 270,000 | 255,554 | ||||||
| 4.000% 4/01/24 | 270,000 | 268,952 | ||||||
| 4.000% 1/22/25 | 140,000 | 138,114 | ||||||
| 3 mo. USD Term SOFR + 3.412% 4.083% VRN 3/20/51 | 420,000 | 353,399 | ||||||
| 4.200% 8/26/24 | 380,000 | 376,435 | ||||||
| 4.250% 10/22/26 | 50,000 | 49,091 | ||||||
| 3 mo. USD Term SOFR + 1.782% 4.330% VRN 3/15/50 | 90,000 | 79,216 | ||||||
| Secured Overnight Financing Rate + 1.580% 4.376% VRN 4/27/28 | 300,000 | 293,190 | ||||||
| 4.450% 3/03/26 | 50,000 | 49,449 | ||||||
| 5.000% 1/21/44 | 130,000 | 127,481 | ||||||
| 3 mo. USD Term SOFR + 3.967% 6.250% VRN (d) | 170,000 | 168,434 | ||||||
| Bank of Montreal | ||||||||
| 1.850% 5/01/25 | 70,000 | 67,113 | ||||||
| 5 yr. USD Swap + 1.432% 3.803% VRN 12/15/32 | 90,000 | 82,793 | ||||||
| Bank of New York Mellon Corp. | ||||||||
| 1.600% 4/24/25 | 170,000 | 163,154 | ||||||
| Bank of Nova Scotia | ||||||||
| 1.300% 6/11/25 | 120,000 | 113,705 | ||||||
| 5 yr. CMT + 2.050% 4.588% VRN 5/04/37 | 100,000 | 89,447 | ||||||
| Barclays PLC 3 mo. USD LIBOR + 3.054% | ||||||||
| 5.088% VRN 6/20/30 | 510,000 | 493,768 | ||||||
| BNP Paribas SA | ||||||||
| Secured Overnight Financing Rate + 2.074% 2.219% VRN 6/09/26 (b) | 200,000 | 190,909 | ||||||
| 5 yr. USD Swap + 1.483% 4.375% VRN 3/01/33 (b) | 220,000 | 205,917 | ||||||
| 4.400% 8/14/28 (b) | 400,000 | 389,581 | ||||||
| 4.625% 3/13/27 (b) | 260,000 | 254,617 | ||||||
| 1 yr. CMT + 1.450% 5.125% VRN 1/13/29 (b) | 400,000 | 402,804 | ||||||
| Secured Overnight Financing Rate + 1.866% 5.894% VRN 12/05/34 (b) | 200,000 | 208,933 | ||||||
| 5 yr. CMT + 4.354% 8.500% VRN (b) (d) | 200,000 | 209,445 | ||||||
| Citigroup, Inc. | ||||||||
| Secured Overnight Financing Rate + 2.107% 2.572% VRN 6/03/31 | 140,000 | 119,590 | ||||||
| Secured Overnight Financing Rate + 1.939% 3.785% VRN 3/17/33 | 370,000 | 332,758 | ||||||
| 3 mo. USD Term SOFR + 1.600% 3.980% VRN 3/20/30 | 180,000 | 170,806 | ||||||
| 4.125% 7/25/28 | 150,000 | 144,039 | ||||||
| 4.300% 11/20/26 | 510,000 | 499,796 | ||||||
| Secured Overnight Financing Rate + 3.914% 4.412% VRN 3/31/31 | 410,000 | 392,143 | ||||||
| 4.450% 9/29/27 | 370,000 | 361,493 | ||||||
| 4.650% 7/30/45 | 181,000 | 164,388 | ||||||
| 4.650% 7/23/48 | 70,000 | 64,470 | ||||||
| Secured Overnight Financing Rate + 1.887% 4.658% VRN 5/24/28 | 50,000 | 49,601 | ||||||
| 4.750% 5/18/46 | 40,000 | 35,773 | ||||||
| Secured Overnight Financing Rate + 2.086% 4.910% VRN 5/24/33 | 130,000 | 127,278 | ||||||
| 5.300% 5/06/44 | 16,000 | 15,352 | ||||||
| 3 mo. USD Term SOFR + 4.167% 5.950% VRN (d) | 150,000 | 146,821 | ||||||
| 3 mo. USD Term SOFR + 3.685% 6.300% VRN (c) (d) | 60,000 | 59,162 | ||||||
| 6.625% 6/15/32 | 20,000 | 21,765 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 8.125% 7/15/39 | $ | 50,000 | $ | 64,379 | ||||
| Cooperatieve Rabobank UA 1 yr. CMT + 1.220% | ||||||||
| 3.649% VRN 4/06/28 (b) | 300,000 | 285,918 | ||||||
| Credit Agricole SA Secured Overnight Financing Rate + 1.676% | ||||||||
| 1.907% VRN 6/16/26 (b) | 270,000 | 256,117 | ||||||
| Credit Suisse AG | ||||||||
| 5.000% 7/09/27 | 250,000 | 250,053 | ||||||
| 7.950% 1/09/25 | 710,000 | 725,635 | ||||||
| Danske Bank AS | ||||||||
| 5.375% 1/12/24 (b) | 240,000 | 239,945 | ||||||
| Goldman Sachs Capital II 3 mo. USD Term SOFR + 1.029% | ||||||||
| 6.406% VRN (d) | 8,000 | 6,658 | ||||||
| Goldman Sachs Group, Inc. | ||||||||
| Secured Overnight Financing Rate + 1.472% 2.908% VRN 7/21/42 | 80,000 | 58,358 | ||||||
| Secured Overnight Financing Rate + 1.513% 3.210% VRN 4/22/42 | 40,000 | 30,630 | ||||||
| 3.500% 4/01/25 | 370,000 | 361,585 | ||||||
| 3.500% 11/16/26 | 200,000 | 192,578 | ||||||
| Secured Overnight Financing Rate + 1.846% 3.615% VRN 3/15/28 | 50,000 | 47,957 | ||||||
| 3 mo. USD Term SOFR + 1.772% 3.691% VRN 6/05/28 | 350,000 | 334,403 | ||||||
| 3.850% 7/08/24 | 90,000 | 89,188 | ||||||
| 4.000% 3/03/24 | 100,000 | 99,708 | ||||||
| 3 mo. USD Term SOFR + 1.563% 4.223% VRN 5/01/29 | 490,000 | 473,990 | ||||||
| 4.250% 10/21/25 | 160,000 | 157,047 | ||||||
| 4.750% 10/21/45 | 80,000 | 75,801 | ||||||
| 5.150% 5/22/45 | 290,000 | 280,348 | ||||||
| 6.250% 2/01/41 | 130,000 | 144,989 | ||||||
| 6.750% 10/01/37 | 80,000 | 88,059 | ||||||
| HSBC Holdings PLC | ||||||||
| Secured Overnight Financing Rate + 1.929% 2.099% VRN 6/04/26 | 510,000 | 485,508 | ||||||
| 3.900% 5/25/26 | 200,000 | 194,688 | ||||||
| Secured Overnight Financing Rate + 2.530% 4.762% VRN 3/29/33 | 200,000 | 186,289 | ||||||
| Intesa Sanpaolo SpA | ||||||||
| 5.017% 6/26/24 (b) | 900,000 | 890,649 | ||||||
| 5.710% 1/15/26 (b) | 200,000 | 198,998 | ||||||
| JP Morgan Chase & Co. | ||||||||
| Secured Overnight Financing Rate + 1.850% 2.083% VRN 4/22/26 | 340,000 | 325,669 | ||||||
| Secured Overnight Financing Rate + 2.040% 2.522% VRN 4/22/31 | 300,000 | 259,421 | ||||||
| Secured Overnight Financing Rate + 1.180% 2.545% VRN 11/08/32 | 100,000 | 83,438 | ||||||
| Secured Overnight Financing Rate + 2.440% 3.109% VRN 4/22/51 | 80,000 | 57,484 | ||||||
| 3 mo. USD Term SOFR + 1.207% 3.509% VRN 1/23/29 | 70,000 | 66,330 | ||||||
| 3.875% 9/10/24 | 300,000 | 296,657 | ||||||
| 3 mo. USD Term SOFR + 1.522% 4.203% VRN 7/23/29 | 310,000 | 301,233 | ||||||
| 4.250% 10/01/27 | 70,000 | 69,236 | ||||||
| 3 mo. USD Term SOFR + 1.592% 4.452% VRN 12/05/29 | 700,000 | 685,993 | ||||||
| 4.950% 6/01/45 | 140,000 | 133,840 | ||||||
| Lloyds Banking Group PLC | ||||||||
| 4.550% 8/16/28 | 370,000 | 363,871 | ||||||
| Mitsubishi UFJ Financial Group, Inc. 1 yr. CMT + 1.125% | ||||||||
| 3.837% VRN 4/17/26 | 200,000 | 196,121 | ||||||
| Morgan Stanley | ||||||||
| Secured Overnight Financing Rate + 1.990% 2.188% VRN 4/28/26 | 260,000 | 249,770 | ||||||
| Secured Overnight Financing Rate + 1.143% 2.699% VRN 1/22/31 | 10,000 | 8,742 | ||||||
| Secured Overnight Financing Rate + 3.120% 3.622% VRN 4/01/31 | 640,000 | 589,585 | ||||||
| 3 mo. USD Term SOFR + 1.402% 3.772% VRN 1/24/29 | 350,000 | 333,789 | ||||||
| 3 mo. USD Term SOFR + 1.890% 4.431% VRN 1/23/30 | 10,000 | 9,740 | ||||||
| National Securities Clearing Corp. | ||||||||
| 1.500% 4/23/25 (b) | 250,000 | 239,608 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Secured Overnight Financing Rate + 1.841% 5.582% VRN 6/12/29 | $ | 200,000 | $ | 204,266 | ||||
| Secured Overnight Financing Rate + 1.322% 5.812% VRN 6/12/26 | 70,000 | 70,420 | ||||||
| Royal Bank of Canada | ||||||||
| 1.150% 6/10/25 | 250,000 | 236,919 | ||||||
| 3.875% 5/04/32 | 40,000 | 37,745 | ||||||
| Santander Holdings USA, Inc. | ||||||||
| 4.500% 7/17/25 | 50,000 | 49,420 | ||||||
| Toronto-Dominion Bank | ||||||||
| 1.150% 6/12/25 | 280,000 | 265,039 | ||||||
| Truist Financial Corp. Secured Overnight Financing Rate + 2.050% | ||||||||
| 6.047% VRN 6/08/27 | 130,000 | 132,290 | ||||||
| UBS Group AG | ||||||||
| Secured Overnight Financing Rate + 2.044% 2.193% VRN 6/05/26 (b) | 480,000 | 456,472 | ||||||
| Secured Overnight Financing Rate + 1.730% 3.091% VRN 5/14/32 (b) | 350,000 | 298,083 | ||||||
| Secured Overnight Financing Rate + 3.730% 4.194% VRN 4/01/31 (b) | 250,000 | 232,761 | ||||||
| 4.253% 3/23/28 (b) | 340,000 | 328,122 | ||||||
| 1 yr. CMT + 2.000% 6.301% VRN 9/22/34 (b) | 410,000 | 434,035 | ||||||
| 5 yr. USD Swap + 4.344% 7.000% VRN (b) (c) (d) | 500,000 | 499,846 | ||||||
| 5 yr. CMT + 4.745% 9.250% VRN (b) (d) | 200,000 | 215,755 | ||||||
| US Bancorp | ||||||||
| 1.450% 5/12/25 | 200,000 | 190,341 | ||||||
| Secured Overnight Financing Rate + 0.730% 2.215% VRN 1/27/28 | 30,000 | 27,569 | ||||||
| Secured Overnight Financing Rate + 2.020% 5.775% VRN 6/12/29 | 140,000 | 143,830 | ||||||
| Secured Overnight Financing Rate + 2.260% 5.836% VRN 6/12/34 | 50,000 | 51,576 | ||||||
| Wells Fargo & Co. | ||||||||
| Secured Overnight Financing Rate + 2.000% 2.188% VRN 4/30/26 | 200,000 | 191,673 | ||||||
| Secured Overnight Financing Rate + 2.100% 2.393% VRN 6/02/28 | 230,000 | 210,663 | ||||||
| 3 mo. USD Term SOFR + 1.432% 2.879% VRN 10/30/30 | 150,000 | 133,344 | ||||||
| 3.000% 10/23/26 | 350,000 | 332,281 | ||||||
| Secured Overnight Financing Rate + 1.500% 3.350% VRN 3/02/33 | 300,000 | 262,025 | ||||||
| 4.300% 7/22/27 | 240,000 | 234,900 | ||||||
| 4.400% 6/14/46 | 180,000 | 151,186 | ||||||
| 3 mo. USD Term SOFR + 4.032% 4.478% VRN 4/04/31 | 210,000 | 202,870 | ||||||
| 4.650% 11/04/44 | 80,000 | 70,241 | ||||||
| 4.750% 12/07/46 | 10,000 | 8,807 | ||||||
| 4.900% 11/17/45 | 250,000 | 227,223 | ||||||
| 3 mo. USD Term SOFR + 4.502% 5.013% VRN 4/04/51 | 1,220,000 | 1,160,448 | ||||||
| 5.375% 11/02/43 | 110,000 | 107,107 | ||||||
| Secured Overnight Financing Rate + 1.990% 5.557% VRN 7/25/34 | 160,000 | 162,897 | ||||||
| Secured Overnight Financing Rate + 1.740% 5.574% VRN 7/25/29 | 120,000 | 122,528 | ||||||
| 5.875% VRN (d) (e) | 50,000 | 49,479 | ||||||
| 28,716,407 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Beverages — 0.3% | ||||||||
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 3.650% 2/01/26 | $ | 90,000 | $ | 88,363 | ||||
| 4.900% 2/01/46 | 50,000 | 49,012 | ||||||
| Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 3.500% 6/01/30 | 130,000 | 123,680 | ||||||
| 4.000% 4/13/28 | 80,000 | 79,017 | ||||||
| 4.350% 6/01/40 | 30,000 | 28,037 | ||||||
| 4.600% 4/15/48 | 3,000 | 2,839 | ||||||
| 4.750% 1/23/29 | 190,000 | 192,953 | ||||||
| 5.550% 1/23/49 | 110,000 | 118,207 | ||||||
| Coca-Cola Co. | ||||||||
| 2.500% 6/01/40 | 10,000 | 7,561 | ||||||
| Constellation Brands, Inc. | ||||||||
| 3.600% 5/09/24 | 60,000 | 59,553 | ||||||
| 4.350% 5/09/27 | 80,000 | 79,312 | ||||||
| Molson Coors Beverage Co. | ||||||||
| 3.000% 7/15/26 | 50,000 | 47,887 | ||||||
| 4.200% 7/15/46 | 50,000 | 42,606 | ||||||
| PepsiCo, Inc. | ||||||||
| 1.625% 5/01/30 | 170,000 | 144,815 | ||||||
| 1,063,842 | ||||||||
| Biotechnology — 0.1% | ||||||||
| Amgen, Inc. | ||||||||
| 4.663% 6/15/51 | 24,000 | 21,815 | ||||||
| Gilead Sciences, Inc. | ||||||||
| 3.700% 4/01/24 | 130,000 | 129,376 | ||||||
| 4.500% 2/01/45 | 10,000 | 9,249 | ||||||
| 4.750% 3/01/46 | 40,000 | 38,115 | ||||||
| 198,555 | ||||||||
| Building Materials — 0.0% | ||||||||
| Builders FirstSource, Inc. | ||||||||
| 4.250% 2/01/32 (b) | 20,000 | 18,039 | ||||||
| Carrier Global Corp. | ||||||||
| 3.577% 4/05/50 | 20,000 | 15,645 | ||||||
| 33,684 | ||||||||
| Chemicals — 0.3% | ||||||||
| MEGlobal BV | ||||||||
| 4.250% 11/03/26 (b) | 230,000 | 221,952 | ||||||
| OCP SA | ||||||||
| 3.750% 6/23/31 (b) | 260,000 | 223,340 | ||||||
| 5.125% 6/23/51 (b) | 220,000 | 166,399 | ||||||
| Orbia Advance Corp. SAB de CV | ||||||||
| 2.875% 5/11/31 (b) | 490,000 | 405,473 | ||||||
| 1,017,164 | ||||||||
| Coal — 0.0% | ||||||||
| Teck Resources Ltd. | ||||||||
| 6.000% 8/15/40 | 20,000 | 20,290 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Commercial Services — 0.2% | ||||||||
| ADT Security Corp. | ||||||||
| 4.125% 8/01/29 (b) | $ | 10,000 | $ | 9,202 | ||||
| Cintas Corp. No. 2 | ||||||||
| 3.700% 4/01/27 | 160,000 | 156,613 | ||||||
| DP World Ltd. | ||||||||
| 5.625% 9/25/48 (b) | 330,000 | 315,790 | ||||||
| United Rentals North America, Inc. | ||||||||
| 3.750% 1/15/32 | 80,000 | 70,784 | ||||||
| 3.875% 11/15/27 | 60,000 | 57,252 | ||||||
| 3.875% 2/15/31 | 20,000 | 18,172 | ||||||
| 627,813 | ||||||||
| Computers — 0.2% | ||||||||
| Dell International LLC/EMC Corp. | ||||||||
| 3.375% 12/15/41 | 1,320,000 | 995,307 | ||||||
| Cosmetics & Personal Care — 0.1% | ||||||||
| Haleon US Capital LLC | ||||||||
| 3.375% 3/24/29 | 260,000 | 245,895 | ||||||
| Kenvue, Inc. | ||||||||
| 4.900% 3/22/33 | 160,000 | 164,926 | ||||||
| Procter & Gamble Co. | ||||||||
| 3.000% 3/25/30 | 100,000 | 93,644 | ||||||
| 504,465 | ||||||||
| Distribution & Wholesale — 0.0% | ||||||||
| H&E Equipment Services, Inc. | ||||||||
| 3.875% 12/15/28 (b) | 20,000 | 18,186 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Diversified Financial Services — 0.6% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 2.450% 10/29/26 | $ | 320,000 | $ | 296,295 | ||||
| 3.000% 10/29/28 | 160,000 | 146,078 | ||||||
| 3.150% 2/15/24 | 190,000 | 189,247 | ||||||
| 3.300% 1/30/32 | 160,000 | 139,253 | ||||||
| Air Lease Corp. | ||||||||
| 3.375% 7/01/25 | 80,000 | 77,432 | ||||||
| 5.300% 2/01/28 (c) | 130,000 | 131,432 | ||||||
| American Express Co. | ||||||||
| 3.375% 5/03/24 | 130,000 | 129,003 | ||||||
| 4.050% 5/03/29 | 140,000 | 138,568 | ||||||
| Charles Schwab Corp. | ||||||||
| 5.875% 8/24/26 | 280,000 | 287,181 | ||||||
| Secured Overnight Financing Rate + 2.010% 6.136% VRN 8/24/34 | 50,000 | 52,704 | ||||||
| ILFC E-Capital Trust II 3 mo. USD Term SOFR + 2.062% | ||||||||
| 7.436% VRN 12/21/65 (b) | 10,000 | 7,739 | ||||||
| Intercontinental Exchange, Inc. | ||||||||
| 4.600% 3/15/33 | 50,000 | 49,711 | ||||||
| 4.950% 6/15/52 | 20,000 | 19,923 | ||||||
| KKR Group Finance Co. II LLC | ||||||||
| 5.500% 2/01/43 (b) (c) | 20,000 | 19,125 | ||||||
| Mastercard, Inc. | ||||||||
| 3.850% 3/26/50 | 50,000 | 43,610 | ||||||
| Park Aerospace Holdings Ltd. | ||||||||
| 5.500% 2/15/24 (b) | 50,000 | 49,907 | ||||||
| Vanguard Group, Inc. | ||||||||
| 3.050% 8/22/50 | 450,000 | 294,647 | ||||||
| Visa, Inc. | ||||||||
| 4.300% 12/14/45 | 160,000 | 149,068 | ||||||
| 2,220,923 | ||||||||
| Electric — 0.2% | ||||||||
| American Transmission Systems, Inc. | ||||||||
| 2.650% 1/15/32 (b) | 440,000 | 372,257 | ||||||
| Consolidated Edison Co. of New York, Inc. | ||||||||
| 3.350% 4/01/30 | 70,000 | 65,268 | ||||||
| 3.950% 4/01/50 | 50,000 | 41,725 | ||||||
| Duke Energy Ohio, Inc. | ||||||||
| 3.650% 2/01/29 | 210,000 | 202,128 | ||||||
| Exelon Corp. | ||||||||
| 5.625% 6/15/35 | 40,000 | 40,707 | ||||||
| Pacific Gas & Electric Co. | ||||||||
| 2.100% 8/01/27 | 140,000 | 126,173 | ||||||
| 2.500% 2/01/31 | 40,000 | 32,996 | ||||||
| 3.300% 8/01/40 | 50,000 | 36,588 | ||||||
| 3.500% 8/01/50 | 80,000 | 55,230 | ||||||
| 973,072 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Entertainment — 0.1% | ||||||||
| Warnermedia Holdings, Inc. | ||||||||
| 3.755% 3/15/27 | $ | 60,000 | $ | 57,491 | ||||
| 4.054% 3/15/29 | 80,000 | 75,903 | ||||||
| 4.279% 3/15/32 | 200,000 | 183,041 | ||||||
| 5.050% 3/15/42 | 20,000 | 17,632 | ||||||
| 5.141% 3/15/52 | 10,000 | 8,583 | ||||||
| 6.412% 3/15/26 | 110,000 | 110,075 | ||||||
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | ||||||||
| 7.125% 2/15/31 (b) | 90,000 | 93,728 | ||||||
| 546,453 | ||||||||
| Food — 0.1% | ||||||||
| Mars, Inc. | ||||||||
| 3.200% 4/01/30 (b) | 80,000 | 73,867 | ||||||
| Mondelez International, Inc. | ||||||||
| 1.500% 5/04/25 | 340,000 | 324,096 | ||||||
| 397,963 | ||||||||
| Forest Products & Paper — 0.1% | ||||||||
| Suzano Austria GmbH | ||||||||
| 3.125% 1/15/32 | 60,000 | 49,788 | ||||||
| 3.750% 1/15/31 | 430,000 | 377,127 | ||||||
| 426,915 | ||||||||
| Health Care – Products — 0.0% | ||||||||
| Abbott Laboratories | ||||||||
| 4.750% 11/30/36 | 80,000 | 81,942 | ||||||
| Medtronic, Inc. | ||||||||
| 4.625% 3/15/45 | 18,000 | 17,490 | ||||||
| 99,432 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Health Care – Services — 0.4% | ||||||||
| Centene Corp. | ||||||||
| 2.625% 8/01/31 | $ | 10,000 | $ | 8,297 | ||||
| 3.000% 10/15/30 | 10,000 | 8,660 | ||||||
| 4.250% 12/15/27 | 70,000 | 67,449 | ||||||
| 4.625% 12/15/29 | 120,000 | 115,047 | ||||||
| CommonSpirit Health | ||||||||
| 4.350% 11/01/42 | 20,000 | 17,250 | ||||||
| Elevance Health, Inc. | ||||||||
| 3.350% 12/01/24 | 120,000 | 117,759 | ||||||
| 3.650% 12/01/27 | 90,000 | 87,299 | ||||||
| 4.100% 5/15/32 | 60,000 | 57,299 | ||||||
| 4.550% 5/15/52 | 10,000 | 9,123 | ||||||
| Fresenius Medical Care U.S. Finance II, Inc. | ||||||||
| 4.750% 10/15/24 (b) | 70,000 | 69,084 | ||||||
| HCA, Inc. | ||||||||
| 3.500% 9/01/30 | 70,000 | 63,457 | ||||||
| 4.500% 2/15/27 | 40,000 | 39,529 | ||||||
| 5.000% 3/15/24 | 50,000 | 49,909 | ||||||
| 5.250% 6/15/26 | 60,000 | 60,293 | ||||||
| 5.500% 6/15/47 | 80,000 | 77,018 | ||||||
| Humana, Inc. | ||||||||
| 2.150% 2/03/32 | 40,000 | 32,892 | ||||||
| 4.500% 4/01/25 | 50,000 | 49,584 | ||||||
| 4.625% 12/01/42 | 70,000 | 63,794 | ||||||
| 4.800% 3/15/47 | 10,000 | 9,296 | ||||||
| Tenet Healthcare Corp. | ||||||||
| 4.375% 1/15/30 (c) | 10,000 | 9,267 | ||||||
| UnitedHealth Group, Inc. | ||||||||
| 1.250% 1/15/26 | 50,000 | 46,816 | ||||||
| 2.300% 5/15/31 | 20,000 | 17,330 | ||||||
| 3.125% 5/15/60 | 30,000 | 21,316 | ||||||
| 3.875% 12/15/28 | 110,000 | 107,668 | ||||||
| 3.875% 8/15/59 | 90,000 | 73,268 | ||||||
| 4.000% 5/15/29 | 100,000 | 98,530 | ||||||
| 4.200% 5/15/32 | 70,000 | 68,497 | ||||||
| 4.250% 6/15/48 | 110,000 | 98,275 | ||||||
| 4.450% 12/15/48 | 50,000 | 45,759 | ||||||
| 5.800% 3/15/36 | 70,000 | 76,478 | ||||||
| 1,666,243 | ||||||||
| Home Builders — 0.0% | ||||||||
| Lennar Corp. | ||||||||
| 4.500% 4/30/24 | 100,000 | 99,473 | ||||||
| 4.750% 11/29/27 | 40,000 | 39,908 | ||||||
| MDC Holdings, Inc. | ||||||||
| 6.000% 1/15/43 | 20,000 | 18,592 | ||||||
| 157,973 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Insurance — 0.2% | ||||||||
| Berkshire Hathaway Finance Corp. | ||||||||
| 4.250% 1/15/49 | $ | 160,000 | $ | 149,093 | ||||
| Brighthouse Financial, Inc. | ||||||||
| 4.700% 6/22/47 | 11,000 | 8,743 | ||||||
| Chubb INA Holdings, Inc. | ||||||||
| 3.350% 5/03/26 | 120,000 | 116,742 | ||||||
| Guardian Life Global Funding | ||||||||
| 1.100% 6/23/25 (b) | 120,000 | 113,236 | ||||||
| MetLife Capital Trust IV | ||||||||
| 7.875% 12/15/67 (b) | 200,000 | 214,815 | ||||||
| New York Life Global Funding | ||||||||
| 0.950% 6/24/25 (b) | 100,000 | 94,423 | ||||||
| Principal Life Global Funding II | ||||||||
| 1.250% 6/23/25 (b) | 110,000 | 104,108 | ||||||
| Teachers Insurance & Annuity Association of America | ||||||||
| 4.900% 9/15/44 (b) | 50,000 | 47,193 | ||||||
| 6.850% 12/16/39 (b) | 22,000 | 25,347 | ||||||
| 873,700 | ||||||||
| Internet — 0.5% | ||||||||
| Alphabet, Inc. | ||||||||
| 1.900% 8/15/40 | 100,000 | 69,312 | ||||||
| Amazon.com, Inc. | ||||||||
| 2.100% 5/12/31 | 80,000 | 68,985 | ||||||
| 2.500% 6/03/50 | 60,000 | 39,913 | ||||||
| 3.150% 8/22/27 | 470,000 | 451,090 | ||||||
| 3.450% 4/13/29 | 80,000 | 77,480 | ||||||
| 3.600% 4/13/32 | 320,000 | 304,822 | ||||||
| 4.250% 8/22/57 | 70,000 | 64,336 | ||||||
| 4.950% 12/05/44 | 180,000 | 185,081 | ||||||
| Prosus NV | ||||||||
| 3.061% 7/13/31 (b) | 370,000 | 298,858 | ||||||
| 3.832% 2/08/51 (b) | 210,000 | 131,894 | ||||||
| 4.027% 8/03/50 (b) | 310,000 | 203,388 | ||||||
| 1,895,159 | ||||||||
| Investment Companies — 0.4% | ||||||||
| Golub Capital BDC, Inc. | ||||||||
| 2.500% 8/24/26 | 1,570,000 | 1,422,902 | ||||||
| Iron & Steel — 0.1% | ||||||||
| ArcelorMittal SA | ||||||||
| 7.000% STEP 10/15/39 | 60,000 | 64,903 | ||||||
| Vale Overseas Ltd. | ||||||||
| 6.875% 11/21/36 | 174,000 | 189,875 | ||||||
| 254,778 | ||||||||
| Leisure Time — 0.1% | ||||||||
| VOC Escrow Ltd. | ||||||||
| 5.000% 2/15/28 (b) | 210,000 | 201,142 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Lodging — 0.5% | ||||||||
| Las Vegas Sands Corp. | ||||||||
| 2.900% 6/25/25 | $ | 100,000 | $ | 96,097 | ||||
| 3.200% 8/08/24 | 790,000 | 774,664 | ||||||
| Sands China Ltd. | ||||||||
| 4.300% STEP 1/08/26 | 280,000 | 268,871 | ||||||
| 5.375% STEP 8/08/25 | 750,000 | 739,623 | ||||||
| 1,879,255 | ||||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Vertiv Group Corp. | ||||||||
| 4.125% 11/15/28 (b) | 30,000 | 28,147 | ||||||
| Machinery – Diversified — 0.1% | ||||||||
| Deere & Co. | ||||||||
| 3.100% 4/15/30 | 60,000 | 55,662 | ||||||
| 3.750% 4/15/50 | 90,000 | 78,684 | ||||||
| Otis Worldwide Corp. | ||||||||
| 2.056% 4/05/25 | 140,000 | 134,584 | ||||||
| 268,930 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Media — 1.3% | ||||||||
| Altice Financing SA | ||||||||
| 5.750% 8/15/29 (b) | $ | 210,000 | $ | 186,356 | ||||
| CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
| 4.500% 8/15/30 (b) | 30,000 | 27,045 | ||||||
| 4.500% 5/01/32 | 840,000 | 719,430 | ||||||
| 4.750% 2/01/32 (b) | 70,000 | 61,737 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 3.500% 3/01/42 | 60,000 | 41,735 | ||||||
| 4.200% 3/15/28 | 140,000 | 134,474 | ||||||
| 4.400% 4/01/33 (c) | 140,000 | 129,204 | ||||||
| 4.800% 3/01/50 | 30,000 | 23,222 | ||||||
| 4.908% 7/23/25 | 270,000 | 267,433 | ||||||
| 5.050% 3/30/29 | 360,000 | 356,183 | ||||||
| 5.125% 7/01/49 | 100,000 | 81,215 | ||||||
| 5.375% 4/01/38 | 100,000 | 90,177 | ||||||
| 5.375% 5/01/47 | 20,000 | 16,996 | ||||||
| 5.500% 4/01/63 | 80,000 | 66,758 | ||||||
| 6.484% 10/23/45 | 160,000 | 157,218 | ||||||
| 6.834% 10/23/55 | 60,000 | 59,899 | ||||||
| Comcast Corp. | ||||||||
| 2.800% 1/15/51 | 30,000 | 19,992 | ||||||
| 2.887% 11/01/51 | 260,000 | 175,877 | ||||||
| 3.150% 3/01/26 | 280,000 | 271,814 | ||||||
| 3.250% 11/01/39 | 30,000 | 24,300 | ||||||
| 3.300% 4/01/27 | 120,000 | 115,699 | ||||||
| 3.400% 4/01/30 | 180,000 | 168,481 | ||||||
| 3.400% 7/15/46 | 30,000 | 23,238 | ||||||
| 3.450% 2/01/50 | 40,000 | 30,702 | ||||||
| 3.750% 4/01/40 | 80,000 | 68,815 | ||||||
| 3.969% 11/01/47 | 80,000 | 67,133 | ||||||
| 3.999% 11/01/49 | 20,000 | 16,690 | ||||||
| 4.000% 8/15/47 | 20,000 | 16,847 | ||||||
| 4.000% 3/01/48 | 50,000 | 41,957 | ||||||
| 4.150% 10/15/28 | 180,000 | 177,493 | ||||||
| 4.250% 10/15/30 | 190,000 | 187,261 | ||||||
| 4.250% 1/15/33 | 20,000 | 19,432 | ||||||
| 4.950% 10/15/58 | 10,000 | 9,793 | ||||||
| 6.500% 11/15/35 | 41,000 | 46,619 | ||||||
| CSC Holdings LLC | ||||||||
| 4.125% 12/01/30 (b) | 210,000 | 159,758 | ||||||
| 4.500% 11/15/31 (b) | 200,000 | 151,215 | ||||||
| 6.500% 2/01/29 (b) (c) | 250,000 | 220,650 | ||||||
| DISH DBS Corp. | ||||||||
| 5.250% 12/01/26 (b) | 120,000 | 102,810 | ||||||
| 5.750% 12/01/28 (b) | 120,000 | 95,712 | ||||||
| Fox Corp. | ||||||||
| 5.476% 1/25/39 | 90,000 | 87,505 | ||||||
| 6.500% 10/13/33 | 120,000 | 129,894 | ||||||
| Time Warner Cable Enterprises LLC | ||||||||
| 8.375% 7/15/33 | 20,000 | 23,158 | ||||||
| Time Warner Cable LLC | ||||||||
| 6.550% 5/01/37 | 50,000 | 49,263 | ||||||
| 6.750% 6/15/39 | 120,000 | 119,019 | ||||||
| 7.300% 7/01/38 | 100,000 | 103,118 | ||||||
| Virgin Media Secured Finance PLC | ||||||||
| 5.500% 5/15/29 (b) | 210,000 | 202,911 | ||||||
| Walt Disney Co. | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.200% 12/15/34 | $ | 20,000 | $ | 22,616 | ||||
| 6.650% 11/15/37 | 50,000 | 58,726 | ||||||
| 5,427,580 | ||||||||
| Mining — 0.6% | ||||||||
| Anglo American Capital PLC | ||||||||
| 4.750% 4/10/27 (b) | 230,000 | 226,961 | ||||||
| Barrick North America Finance LLC | ||||||||
| 5.700% 5/30/41 | 80,000 | 84,330 | ||||||
| 5.750% 5/01/43 | 80,000 | 85,579 | ||||||
| BHP Billiton Finance USA Ltd. | ||||||||
| 5.000% 9/30/43 | 100,000 | 100,750 | ||||||
| First Quantum Minerals Ltd. | ||||||||
| 6.875% 10/15/27 (b) | 230,000 | 195,464 | ||||||
| 8.625% 6/01/31 (b) | 200,000 | 169,500 | ||||||
| Freeport-McMoRan, Inc. | ||||||||
| 4.550% 11/14/24 | 10,000 | 9,892 | ||||||
| 4.625% 8/01/30 | 120,000 | 117,266 | ||||||
| 5.450% 3/15/43 | 416,000 | 404,702 | ||||||
| Glencore Funding LLC | ||||||||
| 3.875% 10/27/27 (b) | 90,000 | 86,507 | ||||||
| 4.000% 3/27/27 (b) | 270,000 | 262,190 | ||||||
| 4.125% 3/12/24 (b) | 130,000 | 129,525 | ||||||
| Southern Copper Corp. | ||||||||
| 5.250% 11/08/42 | 450,000 | 435,821 | ||||||
| 2,308,487 | ||||||||
| Miscellaneous - Manufacturing — 0.1% | ||||||||
| 3M Co. | ||||||||
| 2.375% 8/26/29 | 140,000 | 123,897 | ||||||
| 3.050% 4/15/30 | 60,000 | 54,079 | ||||||
| 3.700% 4/15/50 | 150,000 | 118,562 | ||||||
| Eaton Corp. | ||||||||
| 4.150% 11/02/42 | 40,000 | 36,654 | ||||||
| 333,192 | ||||||||
| Multi-National — 0.3% | ||||||||
| Inter-American Development Bank | ||||||||
| 7.350% 10/06/30 INR (f) | 114,000,000 | 1,400,379 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Oil & Gas — 2.3% | ||||||||
| BP Capital Markets America, Inc. | ||||||||
| 3.000% 2/24/50 | $ | 320,000 | $ | 226,322 | ||||
| 3.588% 4/14/27 | 100,000 | 96,949 | ||||||
| 3.633% 4/06/30 | 120,000 | 114,912 | ||||||
| Chevron Corp. | ||||||||
| 1.995% 5/11/27 | 110,000 | 102,086 | ||||||
| 3.078% 5/11/50 | 20,000 | 15,097 | ||||||
| ConocoPhillips Co. | ||||||||
| 6.950% 4/15/29 | 75,000 | 83,549 | ||||||
| Continental Resources, Inc. | ||||||||
| 2.268% 11/15/26 (b) | 70,000 | 64,407 | ||||||
| 4.375% 1/15/28 | 130,000 | 125,869 | ||||||
| 5.750% 1/15/31 (b) | 240,000 | 238,910 | ||||||
| Coterra Energy, Inc. | ||||||||
| 3.900% 5/15/27 | 310,000 | 299,922 | ||||||
| 4.375% 3/15/29 | 220,000 | 213,477 | ||||||
| Devon Energy Corp. | ||||||||
| 4.750% 5/15/42 | 10,000 | 8,736 | ||||||
| 5.000% 6/15/45 | 410,000 | 361,939 | ||||||
| 5.250% 10/15/27 | 32,000 | 32,174 | ||||||
| 5.600% 7/15/41 | 140,000 | 135,307 | ||||||
| 5.850% 12/15/25 | 120,000 | 121,295 | ||||||
| 5.875% 6/15/28 | 26,000 | 26,267 | ||||||
| 7.875% 9/30/31 | 330,000 | 384,156 | ||||||
| Diamondback Energy, Inc. | ||||||||
| 3.250% 12/01/26 | 10,000 | 9,685 | ||||||
| 3.500% 12/01/29 | 160,000 | 148,595 | ||||||
| 6.250% 3/15/33 (c) | 1,470,000 | 1,570,728 | ||||||
| Ecopetrol SA | ||||||||
| 5.875% 5/28/45 | 770,000 | 608,188 | ||||||
| EOG Resources, Inc. | ||||||||
| 3.900% 4/01/35 | 200,000 | 184,019 | ||||||
| 4.375% 4/15/30 | 60,000 | 59,757 | ||||||
| 4.950% 4/15/50 | 150,000 | 147,347 | ||||||
| EQT Corp. | ||||||||
| 3.900% 10/01/27 | 280,000 | 267,861 | ||||||
| 6.125% STEP 2/01/25 | 12,000 | 12,053 | ||||||
| 7.000% STEP 2/01/30 | 50,000 | 53,662 | ||||||
| Exxon Mobil Corp. | ||||||||
| 3.482% 3/19/30 | 190,000 | 180,626 | ||||||
| 4.114% 3/01/46 | 200,000 | 178,262 | ||||||
| 4.327% 3/19/50 | 20,000 | 18,194 | ||||||
| KazMunayGas National Co. JSC | ||||||||
| 5.375% 4/24/30 (b) | 200,000 | 198,101 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 4.400% 4/15/46 | 70,000 | 56,987 | ||||||
| 4.625% 6/15/45 | 80,000 | 62,965 | ||||||
| 6.600% 3/15/46 | 660,000 | 714,608 | ||||||
| Petrobras Global Finance BV | ||||||||
| 5.999% 1/27/28 | 780,000 | 793,009 | ||||||
| Petroleos Mexicanos | ||||||||
| 6.375% 1/23/45 | 220,000 | 143,347 | ||||||
| 6.625% 6/15/35 | 303,000 | 232,385 | ||||||
| 6.875% 8/04/26 | 160,000 | 155,363 | ||||||
| Pioneer Natural Resources Co. | ||||||||
| 1.125% 1/15/26 | 40,000 | 37,129 | ||||||
| 2.150% 1/15/31 | 190,000 | 161,414 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Reliance Industries Ltd. | ||||||||
| 3.625% 1/12/52 (b) | $ | 330,000 | $ | 241,757 | ||||
| Shell International Finance BV | ||||||||
| 2.750% 4/06/30 | 160,000 | 146,148 | ||||||
| 3.250% 4/06/50 | 230,000 | 172,786 | ||||||
| 4.000% 5/10/46 | 180,000 | 156,199 | ||||||
| 4.550% 8/12/43 | 70,000 | 66,118 | ||||||
| Southwestern Energy Co. | ||||||||
| 4.750% 2/01/32 | 60,000 | 55,513 | ||||||
| 5.375% 3/15/30 | 20,000 | 19,529 | ||||||
| 9,503,709 | ||||||||
| Oil & Gas Services — 0.0% | ||||||||
| Halliburton Co. | ||||||||
| 4.850% 11/15/35 | 20,000 | 19,684 | ||||||
| 5.000% 11/15/45 | 110,000 | 106,754 | ||||||
| Schlumberger Holdings Corp. | ||||||||
| 3.900% 5/17/28 (b) | 31,000 | 30,096 | ||||||
| 156,534 | ||||||||
| Packaging & Containers — 0.0% | ||||||||
| Ball Corp. | ||||||||
| 3.125% 9/15/31 | 100,000 | 86,219 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pharmaceuticals — 1.3% | ||||||||
| AbbVie, Inc. | ||||||||
| 2.600% 11/21/24 | $ | 290,000 | $ | 283,301 | ||||
| 2.950% 11/21/26 | 260,000 | 249,313 | ||||||
| 3.200% 11/21/29 | 540,000 | 504,786 | ||||||
| 3.600% 5/14/25 | 130,000 | 127,646 | ||||||
| 3.800% 3/15/25 | 180,000 | 177,544 | ||||||
| 4.250% 11/21/49 | 20,000 | 17,823 | ||||||
| 4.550% 3/15/35 | 90,000 | 88,259 | ||||||
| 4.875% 11/14/48 | 20,000 | 19,497 | ||||||
| Becton Dickinson & Co. | ||||||||
| 3.363% 6/06/24 | 82,000 | 81,208 | ||||||
| 4.685% 12/15/44 | 18,000 | 16,820 | ||||||
| Bristol-Myers Squibb Co. | ||||||||
| 2.900% 7/26/24 | 206,000 | 203,215 | ||||||
| 3.400% 7/26/29 | 19,000 | 18,021 | ||||||
| Cigna Group | ||||||||
| 4.125% 11/15/25 | 100,000 | 98,734 | ||||||
| 4.375% 10/15/28 | 160,000 | 158,711 | ||||||
| 4.800% 8/15/38 | 190,000 | 183,703 | ||||||
| 4.900% 12/15/48 | 100,000 | 95,074 | ||||||
| CVS Health Corp. | ||||||||
| 1.875% 2/28/31 | 30,000 | 24,689 | ||||||
| 2.125% 9/15/31 | 140,000 | 115,903 | ||||||
| 3.750% 4/01/30 | 150,000 | 141,105 | ||||||
| 4.125% 4/01/40 | 120,000 | 103,041 | ||||||
| 4.250% 4/01/50 | 30,000 | 25,056 | ||||||
| 4.300% 3/25/28 | 168,000 | 165,152 | ||||||
| 5.050% 3/25/48 | 280,000 | 261,886 | ||||||
| 5.125% 7/20/45 | 100,000 | 94,608 | ||||||
| CVS Pass-Through Trust | ||||||||
| 5.880% 1/10/28 | 46,941 | 46,463 | ||||||
| 6.036% 12/10/28 | 45,195 | 45,652 | ||||||
| 6.943% 1/10/30 | 43,919 | 44,867 | ||||||
| Johnson & Johnson | ||||||||
| 3.625% 3/03/37 | 180,000 | 165,580 | ||||||
| Merck & Co., Inc. | ||||||||
| 1.450% 6/24/30 | 120,000 | 100,282 | ||||||
| 2.750% 12/10/51 | 200,000 | 137,472 | ||||||
| Pfizer, Inc. | ||||||||
| 1.700% 5/28/30 | 250,000 | 212,879 | ||||||
| Teva Pharmaceutical Finance Netherlands III BV | ||||||||
| 3.150% 10/01/26 | 900,000 | 833,310 | ||||||
| 6.000% 4/15/24 | 213,000 | 212,280 | ||||||
| 7.125% 1/31/25 | 390,000 | 393,460 | ||||||
| 5,447,340 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pipelines — 1.8% | ||||||||
| Cameron LNG LLC | ||||||||
| 2.902% 7/15/31 (b) | $ | 40,000 | $ | 35,091 | ||||
| 3.302% 1/15/35 (b) | 130,000 | 110,691 | ||||||
| Cheniere Energy Partners LP | ||||||||
| 3.250% 1/31/32 | 170,000 | 144,845 | ||||||
| Columbia Pipelines Operating Co. LLC | ||||||||
| 6.036% 11/15/33 (b) | 260,000 | 272,290 | ||||||
| 6.544% 11/15/53 (b) | 60,000 | 66,061 | ||||||
| El Paso Natural Gas Co. LLC | ||||||||
| 8.375% 6/15/32 | 289,000 | 336,747 | ||||||
| Energy Transfer LP | ||||||||
| 2.900% 5/15/25 | 170,000 | 164,721 | ||||||
| 3.750% 5/15/30 | 410,000 | 380,737 | ||||||
| 4.950% 6/15/28 | 50,000 | 49,804 | ||||||
| 5.250% 4/15/29 | 80,000 | 80,598 | ||||||
| 5.300% 4/01/44 | 20,000 | 18,402 | ||||||
| 5.400% 10/01/47 | 40,000 | 37,271 | ||||||
| 6.100% 2/15/42 | 140,000 | 140,344 | ||||||
| 6.250% 4/15/49 | 230,000 | 237,844 | ||||||
| 5 yr. CMT + 5.694% 6.500% VRN (d) | 50,000 | 47,514 | ||||||
| 5 yr. CMT + 5.134% 6.750% VRN (d) | 160,000 | 152,615 | ||||||
| 5 yr. CMT + 5.306% 7.125% VRN (d) | 150,000 | 138,222 | ||||||
| 3 mo. USD LIBOR + 4.028% 9.669% VRN (c) (d) | 20,000 | 19,206 | ||||||
| Enterprise Products Operating LLC | ||||||||
| 3.700% 1/31/51 | 260,000 | 206,868 | ||||||
| 4.150% 10/16/28 | 900,000 | 888,588 | ||||||
| 3 mo. USD Term SOFR + 2.832% 5.375% VRN 2/15/78 | 40,000 | 35,850 | ||||||
| 5.700% 2/15/42 | 40,000 | 42,091 | ||||||
| EQM Midstream Partners LP | ||||||||
| 5.500% 7/15/28 (c) | 10,000 | 9,908 | ||||||
| Kinder Morgan Energy Partners LP | ||||||||
| 5.500% 3/01/44 | 30,000 | 28,373 | ||||||
| Kinder Morgan, Inc. | ||||||||
| 4.300% 3/01/28 | 110,000 | 108,458 | ||||||
| 5.200% 3/01/48 | 20,000 | 18,254 | ||||||
| MPLX LP | ||||||||
| 4.500% 4/15/38 | 70,000 | 62,291 | ||||||
| 4.700% 4/15/48 | 210,000 | 180,980 | ||||||
| 4.800% 2/15/29 | 190,000 | 188,644 | ||||||
| 4.875% 12/01/24 | 90,000 | 89,487 | ||||||
| 5.500% 2/15/49 | 40,000 | 38,684 | ||||||
| ONEOK, Inc. | ||||||||
| 5.550% 11/01/26 | 50,000 | 50,880 | ||||||
| 5.800% 11/01/30 | 80,000 | 83,172 | ||||||
| 6.050% 9/01/33 | 140,000 | 148,332 | ||||||
| 6.625% 9/01/53 | 220,000 | 246,210 | ||||||
| Southern Natural Gas Co. LLC | ||||||||
| 8.000% 3/01/32 (c) | 148,000 | 172,786 | ||||||
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. | ||||||||
| 6.000% 12/31/30 (b) | 10,000 | 9,295 | ||||||
| Targa Resources Corp. | ||||||||
| 4.200% 2/01/33 | 60,000 | 55,166 | ||||||
| 4.950% 4/15/52 | 40,000 | 35,092 | ||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
| 4.875% 2/01/31 | 130,000 | 126,283 | ||||||
| Tennessee Gas Pipeline Co. LLC | ||||||||
| 2.900% 3/01/30 (b) | 160,000 | 140,922 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Transcontinental Gas Pipe Line Co. LLC | ||||||||
| 7.850% 2/01/26 | $ | 60,000 | $ | 62,827 | ||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875% 11/01/33 (b) | 80,000 | 67,796 | ||||||
| Western Midstream Operating LP | ||||||||
| 3.100% STEP 2/01/25 | 240,000 | 233,559 | ||||||
| 4.050% STEP 2/01/30 | 850,000 | 794,869 | ||||||
| 5.250% STEP 2/01/50 | 230,000 | 206,209 | ||||||
| 5.500% 8/15/48 | 20,000 | 17,836 | ||||||
| Williams Cos., Inc. | ||||||||
| 3.750% 6/15/27 | 90,000 | 86,746 | ||||||
| 7.500% 1/15/31 | 200,000 | 226,138 | ||||||
| 7.750% 6/15/31 | 350,000 | 391,860 | ||||||
| 7,487,457 | ||||||||
| Real Estate Investment Trusts (REITS) — 0.4% | ||||||||
| CTR Partnership LP/CareTrust Capital Corp. | ||||||||
| 3.875% 6/30/28 (b) | 20,000 | 18,257 | ||||||
| Equinix, Inc. | ||||||||
| 2.500% 5/15/31 | 1,641,000 | 1,392,920 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 5.250% 6/01/25 | 10,000 | 9,965 | ||||||
| 5.375% 4/15/26 | 40,000 | 39,753 | ||||||
| WEA Finance LLC/Westfield UK & Europe Finance PLC | ||||||||
| 3.750% 9/17/24 (b) | 220,000 | 216,003 | ||||||
| 1,676,898 | ||||||||
| Retail — 0.3% | ||||||||
| Costco Wholesale Corp. | ||||||||
| 1.375% 6/20/27 | 190,000 | 172,392 | ||||||
| 1.600% 4/20/30 | 110,000 | 94,228 | ||||||
| Home Depot, Inc. | ||||||||
| 2.700% 4/15/30 | 70,000 | 63,932 | ||||||
| 3.300% 4/15/40 | 120,000 | 99,129 | ||||||
| 3.350% 4/15/50 | 190,000 | 147,677 | ||||||
| 3.900% 12/06/28 | 30,000 | 29,550 | ||||||
| 3.900% 6/15/47 | 40,000 | 34,400 | ||||||
| Lowe's Cos., Inc. | ||||||||
| 4.500% 4/15/30 | 50,000 | 49,710 | ||||||
| McDonald's Corp. | ||||||||
| 3.500% 7/01/27 | 100,000 | 97,133 | ||||||
| 3.600% 7/01/30 | 190,000 | 180,224 | ||||||
| 3.625% 9/01/49 | 40,000 | 32,059 | ||||||
| 3.800% 4/01/28 | 110,000 | 107,260 | ||||||
| 4.200% 4/01/50 | 140,000 | 123,819 | ||||||
| Walmart, Inc. | ||||||||
| 1.500% 9/22/28 | 80,000 | 71,466 | ||||||
| 1.800% 9/22/31 | 40,000 | 33,894 | ||||||
| 1,336,873 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Semiconductors — 0.2% | ||||||||
| Broadcom, Inc. | ||||||||
| 3.137% 11/15/35 (b) | $ | 340,000 | $ | 279,134 | ||||
| Intel Corp. | ||||||||
| 1.600% 8/12/28 | 130,000 | 115,001 | ||||||
| 3.050% 8/12/51 | 90,000 | 63,375 | ||||||
| 4.750% 3/25/50 | 20,000 | 18,896 | ||||||
| 5.125% 2/10/30 | 100,000 | 103,708 | ||||||
| Micron Technology, Inc. | ||||||||
| 5.875% 2/09/33 | 60,000 | 62,363 | ||||||
| NVIDIA Corp. | ||||||||
| 3.700% 4/01/60 | 170,000 | 142,364 | ||||||
| NXP BV/NXP Funding LLC/NXP USA, Inc. | ||||||||
| 2.700% 5/01/25 | 120,000 | 115,660 | ||||||
| Texas Instruments, Inc. | ||||||||
| 1.750% 5/04/30 | 110,000 | 94,852 | ||||||
| 995,353 | ||||||||
| Software — 0.2% | ||||||||
| Microsoft Corp. | ||||||||
| 2.921% 3/17/52 | 27,000 | 19,927 | ||||||
| Open Text Holdings, Inc. | ||||||||
| 4.125% 2/15/30 (b) (c) | 10,000 | 9,051 | ||||||
| 4.125% 12/01/31 (b) (c) | 10,000 | 8,839 | ||||||
| Oracle Corp. | ||||||||
| 1.650% 3/25/26 | 240,000 | 223,890 | ||||||
| 2.875% 3/25/31 | 280,000 | 248,039 | ||||||
| 2.950% 4/01/30 | 20,000 | 18,051 | ||||||
| 4.650% 5/06/30 | 100,000 | 99,607 | ||||||
| Salesforce, Inc. | ||||||||
| 3.700% 4/11/28 | 50,000 | 48,992 | ||||||
| 676,396 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Telecommunications — 1.1% | ||||||||
| AT&T, Inc. | ||||||||
| 2.250% 2/01/32 | $ | 20,000 | $ | 16,539 | ||||
| 2.300% 6/01/27 | 250,000 | 232,048 | ||||||
| 2.550% 12/01/33 | 60,000 | 48,901 | ||||||
| 3.500% 9/15/53 | 130,000 | 94,342 | ||||||
| 3.550% 9/15/55 | 183,000 | 131,573 | ||||||
| 3.650% 9/15/59 | 60,000 | 43,001 | ||||||
| 3.800% 12/01/57 | 10,000 | 7,433 | ||||||
| 4.350% 6/15/45 | 101,000 | 87,194 | ||||||
| 5.350% 9/01/40 | 40,000 | 39,476 | ||||||
| 5.550% 8/15/41 | 40,000 | 40,416 | ||||||
| Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC | ||||||||
| 4.738% 9/20/29 (b) | 68,750 | 68,155 | ||||||
| T-Mobile USA, Inc. | ||||||||
| 2.250% 2/15/26 | 70,000 | 66,331 | ||||||
| 2.250% 11/15/31 | 70,000 | 58,282 | ||||||
| 2.550% 2/15/31 | 130,000 | 111,971 | ||||||
| 2.625% 2/15/29 | 170,000 | 153,047 | ||||||
| 2.875% 2/15/31 | 170,000 | 149,792 | ||||||
| 3.000% 2/15/41 | 60,000 | 44,901 | ||||||
| 3.300% 2/15/51 | 20,000 | 14,449 | ||||||
| 3.375% 4/15/29 | 70,000 | 65,037 | ||||||
| 3.500% 4/15/25 | 350,000 | 342,602 | ||||||
| 3.500% 4/15/31 | 380,000 | 347,392 | ||||||
| 3.750% 4/15/27 | 50,000 | 48,496 | ||||||
| 3.875% 4/15/30 | 190,000 | 180,177 | ||||||
| Telefonica Emisiones SA | ||||||||
| 5.213% 3/08/47 | 150,000 | 138,983 | ||||||
| Verizon Communications, Inc. | ||||||||
| 1.750% 1/20/31 | 280,000 | 230,294 | ||||||
| 2.550% 3/21/31 | 282,000 | 243,154 | ||||||
| 2.650% 11/20/40 | 120,000 | 86,462 | ||||||
| 3.400% 3/22/41 | 40,000 | 31,842 | ||||||
| 3.850% 11/01/42 | 40,000 | 33,481 | ||||||
| 3.875% 2/08/29 | 130,000 | 126,033 | ||||||
| 4.000% 3/22/50 | 100,000 | 83,103 | ||||||
| 4.329% 9/21/28 | 440,000 | 435,273 | ||||||
| 4.400% 11/01/34 | 270,000 | 259,763 | ||||||
| 4.500% 8/10/33 | 30,000 | 29,264 | ||||||
| 5.250% 3/16/37 | 170,000 | 176,904 | ||||||
| 5.500% 3/16/47 | 30,000 | 31,271 | ||||||
| Vmed O2 UK Financing I PLC | ||||||||
| 4.750% 7/15/31 (b) | 200,000 | 178,521 | ||||||
| 4,475,903 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Transportation — 0.1% | ||||||||
| Union Pacific Corp. | ||||||||
| 2.150% 2/05/27 | $ | 50,000 | $ | 46,658 | ||||
| 2.891% 4/06/36 | 270,000 | 227,901 | ||||||
| 3.750% 2/05/70 | 150,000 | 115,659 | ||||||
| 3.839% 3/20/60 | 120,000 | 97,889 | ||||||
| 488,107 | ||||||||
| TOTAL CORPORATE DEBT (Cost $107,341,974) | 100,748,361 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 7.5% | ||||||||
| Automobile Asset-Backed Securities — 0.1% | ||||||||
| Avis Budget Rental Car Funding AESOP LLC, Series 2021-1A, Class A | ||||||||
| 1.380% 8/20/27 (b) | 490,000 | 444,090 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Commercial Mortgage-Backed Securities — 2.6% | ||||||||
| Bank | ||||||||
| Series 2017-BNK4, Class XA, 1.336% VRN 5/15/50 (e) | $ | 2,989,855 | $ | 99,241 | ||||
| Series 2017-BNK8, Class A3, 3.229% 11/15/50 | 266,465 | 250,043 | ||||||
| Series 2022-BNK40, Class A4, 3.394% VRN 3/15/64 (e) | 270,000 | 240,221 | ||||||
| Bank of America Merrill Lynch Trust, Series 2016-GG10, Class AJA, | ||||||||
| 5.630% VRN 8/10/45 (b) (e) | 314,280 | 70,713 | ||||||
| Benchmark Mortgage Trust | ||||||||
| Series 2021-B29, Class XA, 1.033% VRN 9/15/54 (e) | 2,495,877 | 121,286 | ||||||
| Series 2019-B13, Class A3, 2.701% 8/15/57 | 290,000 | 261,813 | ||||||
| BPR Trust, Series 2021-TY, Class A, 1 mo. USD Term SOFR + 1.164% | ||||||||
| 6.527% FRN 9/15/38 (b) | 140,000 | 135,536 | ||||||
| BX Commercial Mortgage Trust | ||||||||
| Series 2021-VINO, Class A, 1 mo. USD Term SOFR + 0.767% 6.129% FRN 5/15/38 (b) | 627,338 | 617,141 | ||||||
| Series 2021-21M, Class A, 1 mo. USD Term SOFR + 0.844% 6.207% FRN 10/15/36 (b) | 654,667 | 641,990 | ||||||
| Series 2023-XL3, Class A, 1 mo. USD Term SOFR + 1.761% 7.121% FRN 12/09/40 (b) | 240,000 | 240,075 | ||||||
| Series 2023-VLT2, Class E, 1 mo. USD Term SOFR + 5.871% 11.233% FRN 6/15/40 (b) | 490,000 | 489,074 | ||||||
| BX Trust, Series 2021-LBA, Class AV, 1 mo. USD Term SOFR + 0.914% | ||||||||
| 6.277% FRN 2/15/36 (b) | 197,702 | 194,242 | ||||||
| Cantor Commercial Real Estate Lending, Series 2019-CF1, Class A2 | ||||||||
| 3.623% 5/15/52 | 260,000 | 246,366 | ||||||
| CD Mortgage Trust, Series 2017-CD3, Class A4 | ||||||||
| 3.631% 2/10/50 | 130,000 | 120,895 | ||||||
| Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class B, | ||||||||
| 4.175% VRN 7/10/47 (e) | 350,000 | 334,534 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2014-USA, Class A2, 3.953% 9/15/37 (b) | 190,000 | 166,047 | ||||||
| Series 2014-USA, Class E, 4.373% 9/15/37 (b) | 140,000 | 67,540 | ||||||
| Series 2014-USA, Class F, 4.373% 9/15/37 (b) | 2,440,000 | 982,389 | ||||||
| Series 2022-MARK, Class A, 1 mo. USD Term SOFR + 2.695% 8.057% FRN 6/15/39 (b) | 130,000 | 129,686 | ||||||
| Series 2017-CHOP, Class G, U.S. (Fed) Prime Rate + 2.294% 10.794% FRN 7/15/32 (b) | 750,000 | 662,264 | ||||||
| DBJPM Mortgage Trust, Series 2016-C3, Class A4 | ||||||||
| 2.632% 8/10/49 | 113,500 | 106,595 | ||||||
| DTP Commercial Mortgage Trust, Series 2023-STE2, Class A, | ||||||||
| 6.038% VRN 1/15/41 (b) (e) | 240,000 | 236,276 | ||||||
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class B, | ||||||||
| 7.544% VRN 11/10/39 (b) (e) | 440,000 | 455,593 | ||||||
| GS Mortgage Securities Corp. Trust, Series 2018-SRP5, Class A, 1 mo. USD Term SOFR + 1.914% | ||||||||
| 7.277% FRN 9/15/31 (b) | 1,201,684 | 860,687 | ||||||
| JPMBB Commercial Mortgage Securities Trust | ||||||||
| Series 2014-C19, Class XA, 0.559% VRN 4/15/47 (e) | 393,213 | 116 | ||||||
| Series 2015-C31, Class B, 4.622% VRN 8/15/48 (e) | 160,000 | 133,640 | ||||||
| LAQ Mortgage Trust, Series 2023-LAQ, Class A, 1 mo. USD Term SOFR + 2.091% | ||||||||
| 7.453% FRN 3/15/36 (b) | 85,807 | 85,191 | ||||||
| ML-CFC Commercial Mortgage Trust, Series 2007-9, Class AJ, | ||||||||
| 6.193% VRN 9/12/49 (e) | 2,860 | 2,786 | ||||||
| MSWF Commercial Mortgage Trust, Series 2023-2, Class A5, | ||||||||
| 6.014% VRN 12/15/56 (e) | 280,000 | 302,283 | ||||||
| MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, 1 mo. USD Term SOFR + 1.397% | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.767% FRN 3/15/39 (b) | $ | 190,000 | $ | 184,380 | ||||
| NJ Trust, Series 2023-GSP, Class A, | ||||||||
| 6.697% VRN 1/06/29 (b) (e) | 220,000 | 225,655 | ||||||
| PFP Ltd., Series 2021-8, Class A, 1 mo. USD Term SOFR + 1.114% | ||||||||
| 6.477% FRN 8/09/37 (b) | 221,441 | 220,158 | ||||||
| Shops at Crystals Trust, Series 2016-CSTL, Class A | ||||||||
| 3.126% 7/05/36 (b) | 320,000 | 300,009 | ||||||
| UBS Commercial Mortgage Trust | ||||||||
| Series 2017-C7, Class A3, 3.418% 12/15/50 | 164,729 | 155,682 | ||||||
| Series 2017-C1, Class A4, 3.460% 6/15/50 | 170,000 | 159,941 | ||||||
| Wells Fargo Commercial Mortgage Trust | ||||||||
| Series 2019-C52, Class XA, 1.602% VRN 8/15/52 (e) | 5,472,878 | 331,374 | ||||||
| Series 2017-C42, Class D, 2.800% VRN 12/15/50 (b) (e) | 710,000 | 494,224 | ||||||
| WFRBS Commercial Mortgage Trust | ||||||||
| Series 2014-C24, Class B, 4.204% VRN 11/15/47 (e) | 190,000 | 168,632 | ||||||
| Series 2014-C24, Class C, 4.290% VRN 11/15/47 (e) | 190,000 | 157,807 | ||||||
| 10,652,125 | ||||||||
| Home Equity Asset-Backed Securities — 0.3% | ||||||||
| Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2003-HE6, Class A3B, 1 mo. USD Term SOFR + 1.074% | ||||||||
| 6.430% FRN 11/25/33 | 1,153,623 | 1,153,267 | ||||||
| GSAA Home Equity Trust, Series 2006-5, Class 2A3, 1 mo. USD Term SOFR + 0.654% | ||||||||
| 6.010% FRN 3/25/36 | 290,090 | 142,150 | ||||||
| 1,295,417 | ||||||||
| Manufactured Housing Asset-Backed Securities — 0.1% | ||||||||
| Conseco Finance Corp., Series 1996-4, Class M1, | ||||||||
| 7.750% VRN 6/15/27 (e) | 278,105 | 278,472 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Other Asset-Backed Securities — 2.2% | ||||||||
| AB BSL CLO 4 Ltd., Series 2023-4A, Class A, 3 mo. USD Term SOFR + 2.000% | ||||||||
| 7.416% FRN 4/20/36 (b) | $ | 220,000 | $ | 220,760 | ||||
| AMMC CLO 23 Ltd., Series 2020-23A, Class A1R, 3 mo. USD Term SOFR + 1.302% | ||||||||
| 6.704% FRN 10/17/31 (b) | 175,000 | 174,995 | ||||||
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL3, Class A, 1 mo. USD Term SOFR + 1.184% | ||||||||
| 6.546% FRN 8/15/34 (b) | 790,000 | 781,697 | ||||||
| ARES Loan Funding IV Ltd., Series 2023-ALF4A, Class A1, 3 mo. USD Term SOFR + 1.750% | ||||||||
| 7.097% FRN 10/15/36 (b) | 490,000 | 490,263 | ||||||
| Birch Grove CLO 7 Ltd., Series 2023-7A, Class A1, 3 mo. USD Term SOFR + 1.800% | ||||||||
| 7.178% FRN 10/20/36 (b) | 220,000 | 219,826 | ||||||
| Cayuga Park CLO Ltd., Series 2020-1A, Class AR, 3 mo. USD Term SOFR + 1.382% | ||||||||
| 6.784% FRN 7/17/34 (b) | 220,000 | 219,848 | ||||||
| Credit Suisse European Mortgage Capital Ltd., Series 2019-1OTF, Class A1, 3 mo. USD LIBOR + 2.900% | ||||||||
| 8.552% FRN 8/09/24 (b) | 920,000 | 902,350 | ||||||
| Dividend Solar Loans LLC, Series 2019-1, Class A | ||||||||
| 3.670% 8/22/39 (b) | 644,488 | 568,620 | ||||||
| Dryden 55 CLO Ltd., Series 2018-55A, Class A1, 3 mo. USD Term SOFR + 1.282% | ||||||||
| 6.676% FRN 4/15/31 (b) | 260,939 | 260,718 | ||||||
| Empower CLO Ltd., Series 2023-2A, Class A1, 3 mo. USD Term SOFR + 2.200% | ||||||||
| 7.540% FRN 7/15/36 (b) | 290,000 | 291,962 | ||||||
| HPS Loan Management Ltd., Series 15A-19, Class A1R, 3 mo. USD Term SOFR + 1.320% | ||||||||
| 6.732% FRN 1/22/35 (b) | 250,000 | 249,788 | ||||||
| InStar Leasing III LLC, Series 2021-1A, Class A | ||||||||
| 2.300% 2/15/54 (b) | 546,632 | 477,374 | ||||||
| ITE Rail Fund Levered LP, Series 2021-1A, Class A | ||||||||
| 2.250% 2/28/51 (b) | 683,644 | 599,487 | ||||||
| Mosaic Solar Loan Trust, Series 2021-3A, Class B | ||||||||
| 1.920% 6/20/52 (b) | 708,137 | 536,440 | ||||||
| Neuberger Berman CLO XX Ltd., Series 2015-20A, Class ARR, 3 mo. USD Term SOFR + 1.422% | ||||||||
| 6.816% FRN 7/15/34 (b) | 250,000 | 249,501 | ||||||
| Neuberger Berman Loan Advisers CLO Ltd., Series 2018-29A, Class A1, 3 mo. USD Term SOFR + 1.392% | ||||||||
| 6.788% FRN 10/19/31 (b) | 260,000 | 260,011 | ||||||
| Octagon 66 Ltd., Series 2022-1A, Class A1R, 3 mo. USD Term SOFR + 1.750% | ||||||||
| 7.140% FRN 11/16/36 (b) | 400,000 | 398,690 | ||||||
| Rad CLO Ltd., Series 2023-22A, Class A1, 3 mo. USD Term SOFR + 1.830% | ||||||||
| 7.202% FRN 1/20/37 (b) | 430,000 | 431,106 | ||||||
| Storm King Park CLO Ltd., Series 2022-1A, Class A1, 3 mo. USD Term SOFR + 2.050% | ||||||||
| 7.444% FRN 10/15/35 (b) | 250,000 | 251,003 | ||||||
| Structured Asset Investment Loan Trust, Series 2004-8, Class A9, 1 mo. USD Term SOFR + 1.114% | ||||||||
| 6.470% FRN 9/25/34 | 450,657 | 454,354 | ||||||
| Symphony CLO Ltd., Series 2023-40A, Class A1, 3 mo. USD Term SOFR + 1.640% | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.984% FRN 1/14/34 (b) | $ | 410,000 | $ | 410,059 | ||||
| U.S. Small Business Administration | ||||||||
| Series 2019-25G, Class 1, 2.690% 7/01/44 | 186,508 | 163,758 | ||||||
| Series 2019-20D, Class 1, 2.980% 4/01/39 | 121,771 | 109,291 | ||||||
| Venture 41 CLO Ltd., Series 2021-41A, Class A1N, 3 mo. USD Term SOFR + 1.592% | ||||||||
| 7.007% FRN 1/20/34 (b) | 250,000 | 249,991 | ||||||
| Whitebox CLO II Ltd., Series 2020-2A, Class A1R, 3 mo. USD Term SOFR + 1.482% | ||||||||
| 6.880% FRN 10/24/34 (b) | 150,000 | 149,945 | ||||||
| 9,121,837 | ||||||||
| Student Loans Asset-Backed Securities — 0.4% | ||||||||
| College Avenue Student Loans LLC, Series 2019-A, Class A2 | ||||||||
| 3.280% 12/28/48 (b) | 210,579 | 192,789 | ||||||
| Navient Private Education Refi Loan Trust | ||||||||
| Series 2020-FA, Class A, 1.220% 7/15/69 (b) | 253,247 | 229,855 | ||||||
| Series 2020-IA, Class A1A, 1.330% 4/15/69 (b) | 308,494 | 277,450 | ||||||
| SMB Private Education Loan Trust | ||||||||
| Series 2020-A, Class A2A, 2.230% 9/15/37 (b) | 337,656 | 314,245 | ||||||
| Series 2021-A, Class B, 2.310% 1/15/53 (b) | 593,400 | 548,248 | ||||||
| 1,562,587 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 1.7% | ||||||||
| Bear Stearns Asset-Backed Securities I Trust, Series 2005-AC8, Class A3, 1 mo. USD Term SOFR + 7.536% | ||||||||
| 2.180% FRN 11/25/35 | $ | 627,893 | $ | 118,267 | ||||
| BRAVO Residential Funding Trust, Series 2022-NQM3, Class A1, | ||||||||
| 5.108% VRN 7/25/62 (b) (e) | 296,175 | 295,109 | ||||||
| Citigroup Mortgage Loan Trust, Series 2007-6, Class 2A4, 1 mo. USD Term SOFR + 0.464% | ||||||||
| 5.820% FRN 5/25/37 | 1,220,910 | 673,923 | ||||||
| GSMSC Resecuritization Trust, Series 2014-2R, Class 3B | ||||||||
| 0.702% 11/26/37 (b) | 1,060,878 | 934,320 | ||||||
| GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3, | ||||||||
| 4.629% VRN 10/25/35 (e) | 43,873 | 23,563 | ||||||
| HOMES Trust, Series 2023-NQM1, Class A1, | ||||||||
| 6.182% STEP 1/25/68 (b) | 469,123 | 470,774 | ||||||
| IndyMac INDX Mortgage Loan Trust, Series 2005-AR18, Class 1A1, 1 mo. USD Term SOFR + 0.734% | ||||||||
| 6.090% FRN 10/25/36 | 656,512 | 297,129 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2018-3, Class A1, 3.500% VRN 9/25/48 (b) (e) | 223,099 | 198,259 | ||||||
| Series 2018-4, Class A1, 3.500% VRN 10/25/48 (b) (e) | 97,544 | 86,723 | ||||||
| New Residential Mortgage Loan Trust | ||||||||
| Series 2018-RPL1, Class M2, 3.500% VRN 12/25/57 (b) (e) | 730,000 | 610,006 | ||||||
| Series 2017-4A, Class A1, 4.000% VRN 5/25/57 (b) (e) | 189,734 | 180,302 | ||||||
| OBX Trust | ||||||||
| Series 2022-NQM6, Class A1, 4.700% STEP 7/25/62 (b) | 472,939 | 464,956 | ||||||
| Series 2023-NQM3, Class A1, 5.949% STEP 2/25/63 (b) | 460,467 | 460,965 | ||||||
| Prime Mortgage Trust, Series 2006-DR1, Class 2A2 | ||||||||
| 6.000% 5/25/35 (b) | 422,217 | 357,697 | ||||||
| PRKCM Trust, Series 2023-AFC1, Class A1, | ||||||||
| 6.598% STEP 2/25/58 (b) | 436,075 | 444,721 | ||||||
| Structured Adjustable Rate Mortgage Loan Trust, Series 2006-7, Class 1A1, | ||||||||
| 4.924% VRN 8/25/36 (e) | 143,963 | 100,398 | ||||||
| Structured Asset Mortgage Investments II Trust, Series 2005-AR7, Class 4A1, 1 yr. MTA + 2.150% | ||||||||
| 7.162% FRN 3/25/46 | 86,344 | 76,211 | ||||||
| Towd Point Mortgage Trust | ||||||||
| Series 2017-4, Class B2, 3.635% VRN 6/25/57 (b) (e) | 740,000 | 602,187 | ||||||
| Series 2022-4,Class A1, 3.750% 9/25/62 (b) | 367,991 | 342,646 | ||||||
| 6,738,156 | ||||||||
| Whole Loan Collateral Planned Amortization Classes — 0.0% | ||||||||
| Countrywide Alternative Loan Trust, Series 2006-18CB, Class A6 | ||||||||
| 6.718% FRN 7/25/36 | 39,079 | 35,470 | ||||||
| Whole Loan Collateral Support Collateralized Mortgage Obligations — 0.1% | ||||||||
| Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-AR3, Class A1B, 1 yr. MTA + 1.000% | ||||||||
| 6.012% FRN 2/25/46 | 423,408 | 362,905 | ||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $33,241,172) | 30,491,059 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 3.5% | ||||||||
| Argentina Government International Bond, | ||||||||
| 3.500% STEP 7/09/41 | 110,000 | 37,390 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/27 BRL (f) | $ | 3,328,000 | $ | 654,231 | ||||
| 10.000% 1/01/33 BRL (f) | 3,703,000 | 713,407 | ||||||
| Colombia Government International Bond | ||||||||
| 3.250% 4/22/32 | 430,000 | 341,282 | ||||||
| 4.125% 2/22/42 | 440,000 | 313,696 | ||||||
| Indonesia Government International Bond | ||||||||
| 5.125% 1/15/45 (b) (c) | 220,000 | 226,807 | ||||||
| Indonesia Treasury Bond | ||||||||
| 6.500% 2/15/31 IDR (f) | 18,414,000,000 | 1,189,370 | ||||||
| Israel Government International Bond | ||||||||
| 2.750% 7/03/30 | 310,000 | 273,575 | ||||||
| Kenya Government International Bond | ||||||||
| 6.300% 1/23/34 (b) | 370,000 | 295,933 | ||||||
| Mexican Bonos | ||||||||
| 7.750% 11/23/34 MXN (f) | 17,120,000 | 920,665 | ||||||
| 7.750% 11/13/42 MXN (f) | 46,165,600 | 2,391,362 | ||||||
| 8.000% 11/07/47 MXN (f) | 76,980,000 | 4,050,641 | ||||||
| 8.500% 5/31/29 MXN (f) | 18,880,000 | 1,087,571 | ||||||
| Mexico Government International Bond | ||||||||
| 4.750% 3/08/44 | 730,000 | 626,725 | ||||||
| Nigeria Government International Bond | ||||||||
| 7.143% 2/23/30 (b) | 210,000 | 188,920 | ||||||
| Peruvian Government International Bond | ||||||||
| 6.550% 3/14/37 | 210,000 | 233,625 | ||||||
| Provincia de Buenos Aires/Government Bond | ||||||||
| 6.375% STEP 9/01/37 (b) | 1,920,019 | 732,901 | ||||||
| 14,278,101 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $15,344,684) | 14,278,101 | |||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| U.S. Government Agency Obligations and Instrumentalities (g) — 37.8% | ||||||||
| Collateralized Mortgage Obligations — 2.2% | ||||||||
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates | ||||||||
| Series KG06, Class X1, 0.532% VRN 10/25/31 (e) | $ | 3,096,439 | $ | 100,451 | ||||
| Series K741, Class X1, 0.567% VRN 12/25/27 (e) | 2,982,444 | 56,017 | ||||||
| Series K124, Class X1, 0.719% VRN 12/25/30 (e) | 2,687,713 | 106,703 | ||||||
| Series K094, Class X1, 0.878% VRN 6/25/29 (e) | 989,974 | 38,803 | ||||||
| Series K743, Class X1, 0.922% VRN 5/25/28 (e) | 3,982,066 | 135,068 | ||||||
| Series KC05, Class X1, 1.225% VRN 6/25/27 (e) | 1,444,231 | 33,158 | ||||||
| Series K736, Class X1, 1.283% VRN 7/25/26 (e) | 2,013,454 | 51,290 | ||||||
| Series K115, Class X1, 1.324% VRN 6/25/30 (e) | 1,094,095 | 73,565 | ||||||
| Series K110, Class X1, 1.696% VRN 4/25/30 (e) | 1,291,293 | 104,329 | ||||||
| Federal Home Loan Mortgage Corp. REMICS | ||||||||
| Series 3422, Class AI, 0.250% STEP 1/15/38 | 6,032 | 44 | ||||||
| Series 3621, Class SB, 30 day USD SOFR Average + 6.116% 0.777% FRN 1/15/40 | 17,491 | 1,774 | ||||||
| Series 4203, Class PS, 30 day USD SOFR Average + 6.136% 0.797% FRN 9/15/42 | 76,685 | 6,032 | ||||||
| Series 3973, Class SA, 30 day USD SOFR Average + 6.376% 1.037% FRN 12/15/41 | 111,758 | 12,309 | ||||||
| Series 5092, Class AP, 2.000% 4/25/41 | 78,025 | 68,344 | ||||||
| Series 5018, Class MI, 2.000% 10/25/50 | 326,305 | 42,388 | ||||||
| Series 5085, Class NI, 2.000% 3/25/51 | 587,651 | 68,172 | ||||||
| Series 5140, Class NI, 2.500% 5/25/49 | 260,861 | 37,040 | ||||||
| Series 5010, Class IK, 2.500% 9/25/50 | 197,037 | 29,252 | ||||||
| Series 5010, Class JI, 2.500% 9/25/50 | 467,164 | 75,574 | ||||||
| Series 5013, Class IN, 2.500% 9/25/50 | 238,823 | 38,775 | ||||||
| Series 5040, Class IB, 2.500% 11/25/50 | 138,563 | 19,568 | ||||||
| Series 5059, Class IB, 2.500% 1/25/51 | 740,082 | 120,945 | ||||||
| Series 5274, Class IO, 2.500% 1/25/51 | 652,444 | 105,939 | ||||||
| Series 5069, Class MI, 2.500% 2/25/51 | 73,318 | 10,290 | ||||||
| Series 4391, Class MZ, 3.000% 9/15/44 | 263,874 | 232,192 | ||||||
| Series 4793, Class CB, 3.000% 5/15/48 | 174,546 | 156,186 | ||||||
| Series 4793, Class CD, 3.000% 6/15/48 | 112,451 | 100,540 | ||||||
| Series 4813, Class CJ, 3.000% 8/15/48 | 96,625 | 83,624 | ||||||
| Series 5224, Class HL, 4.000% 4/25/52 | 400,000 | 367,909 | ||||||
| Series R007, Class ZA, 6.000% 5/15/36 | 46,554 | 48,340 | ||||||
| Federal Home Loan Mortgage Corp. STRIPS | ||||||||
| Series 353, Class S1, 30 day USD SOFR Average + 5.886% 0.547% FRN 12/15/46 | 186,821 | 17,906 | ||||||
| Series 334, Class S7, 30 day USD SOFR Average + 5.986% 0.647% FRN 8/15/44 | 76,633 | 8,131 | ||||||
| Federal National Mortgage Association Grantor Trust | ||||||||
| Series 2017-T1, Class A 2.898% 6/25/27 | 99,131 | 93,481 | ||||||
| Federal National Mortgage Association Interest STRIPS | ||||||||
| Series 409, Class C2, 3.000% 4/25/27 | 24,648 | 828 | ||||||
| Series 409, Class C13, 3.500% 11/25/41 | 45,579 | 6,695 | ||||||
| Series 409, Class C18, 4.000% 4/25/42 | 52,553 | 8,956 | ||||||
| Series 409, Class C22, 4.500% 11/25/39 | 34,144 | 5,918 | ||||||
| Federal National Mortgage Association REMICS | ||||||||
| Series 2013-124, Class SB, 30 day USD SOFR Average + 5.836% 0.498% FRN 12/25/43 | 181,614 | 16,529 | ||||||
| Series 2016-61, Class BS, 30 day USD SOFR Average + 5.986% 0.648% FRN 9/25/46 | 61,791 | 4,122 | ||||||
| Series 2017-76, Class SB, 30 day USD SOFR Average + 5.986% 0.648% FRN 10/25/57 | 400,651 | 44,241 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2012-133, Class CS, 30 day USD SOFR Average + 6.036% 0.698% FRN 12/25/42 | $ | 56,620 | $ | 7,876 | ||||
| Series 2012-134, Class SK, 30 day USD SOFR Average + 6.036% 0.698% FRN 12/25/42 | 108,078 | 13,300 | ||||||
| Series 2013-54, Class BS, 30 day USD SOFR Average + 6.036% 0.698% FRN 6/25/43 | 135,019 | 15,175 | ||||||
| Series 2017-85, Class SC, 30 day USD SOFR Average + 6.086% 0.748% FRN 11/25/47 | 110,248 | 10,311 | ||||||
| Series 2012-35, Class SC, 30 day USD SOFR Average + 6.386% 1.048% FRN 4/25/42 | 50,459 | 6,155 | ||||||
| Series 2011-87, Class SG, 30 day USD SOFR Average + 6.436% 1.098% FRN 4/25/40 | 29,826 | 380 | ||||||
| Series 2011-96, Class SA, 30 day USD SOFR Average + 6.436% 1.098% FRN 10/25/41 | 105,547 | 8,455 | ||||||
| Series 2005-88, Class IP, 1.177% FRN 10/25/35 (e) | 17,950 | 777 | ||||||
| Series 2012-74, Class SA, 30 day USD SOFR Average + 6.536% 1.198% FRN 3/25/42 | 25,244 | 1,600 | ||||||
| Series 2006-88, Class IP, 1.373% VRN 3/25/36 (e) | 23,083 | 1,517 | ||||||
| Series 2021-65, Class JA, 2.000% 1/25/46 | 72,911 | 61,781 | ||||||
| Series 2020-57, Class 57, 2.000% 4/25/50 | 196,678 | 168,780 | ||||||
| Series 2020-47, Class GZ, 2.000% 7/25/50 | 321,734 | 191,548 | ||||||
| Series 2023-2, Class CI, 2.000% 10/25/50 | 942,854 | 113,965 | ||||||
| Series 2020-97, Class AI, 2.000% 1/25/51 | 172,758 | 21,803 | ||||||
| Series 2006-59, Class IP, 2.002% FRN 7/25/36 (e) | 49,596 | 3,049 | ||||||
| Series 2014-6, Class Z, 2.500% 2/25/44 | 256,205 | 218,429 | ||||||
| Series 2020-56, Class DI, 2.500% 8/25/50 | 227,579 | 36,695 | ||||||
| Series 2020-74, Class EI, 2.500% 10/25/50 | 147,533 | 22,302 | ||||||
| Series 2020-89, Class DI, 2.500% 12/25/50 | 1,028,727 | 155,186 | ||||||
| Series 2021-3, Class QI, 2.500% 2/25/51 | 768,024 | 116,074 | ||||||
| Series 2012-118, Class VZ, 3.000% 11/25/42 | 129,045 | 116,481 | ||||||
| Series 2011-59, Class NZ, 5.500% 7/25/41 | 223,772 | 231,103 | ||||||
| Series 2013-9, Class CB, 5.500% 4/25/42 | 179,339 | 182,867 | ||||||
| Series 2006-118, Class IP1, 5.503% FRN 12/25/36 (e) | 46,723 | 4,123 | ||||||
| Series 2006-118, Class IP2, 5.503% FRN 12/25/36 (e) | 35,769 | 1,593 | ||||||
| Series 2012-46, Class BA, 6.000% 5/25/42 | 46,018 | 47,468 | ||||||
| Series 2012-28, Class B, 6.500% 6/25/39 | 2,170 | 2,205 | ||||||
| Series 2013-9, Class BC, 6.500% 7/25/42 | 53,558 | 56,819 | ||||||
| Series 2012-51, Class B, 7.000% 5/25/42 | 37,424 | 40,360 | ||||||
| Federal National Mortgage Association-ACES | ||||||||
| Series 2020-M36, Class X1, 1.449% VRN 9/25/34 (e) | 1,138,837 | 85,485 | ||||||
| Series 2019-M19, Class A2, 2.560% 9/25/29 | 433,070 | 392,157 | ||||||
| FREMF Mortgage Trust | ||||||||
| Series 2019-KF58, Class B 30 day USD SOFR Average + 2.264% 7.595% 1/25/26 (b) | 506,574 | 500,301 | ||||||
| Government National Mortgage Association | ||||||||
| Series 2012-144, Class IO, 0.325% VRN 1/16/53 (e) | 2,025,766 | 13,256 | ||||||
| Series 2012-135, Class IO, 0.337% VRN 1/16/53 (e) | 2,202,238 | 36,128 | ||||||
| Series 2014-186, Class IO, 0.372% VRN 8/16/54 (e) | 334,224 | 3,452 | ||||||
| Series 2017-41, Class IO, 0.585% VRN 7/16/58 (e) | 491,815 | 13,885 | ||||||
| Series 2021-60, Class IO, 0.826% VRN 5/16/63 (e) | 2,250,574 | 136,415 | ||||||
| Series 2022-3, Class B, 1.850% 2/16/61 | 200,000 | 107,864 | ||||||
| Series 2023-92, Class AH, 2.000% 6/16/64 | 699,928 | 555,205 | ||||||
| Series 2013-107, Class AD, 2.836% VRN 11/16/47 (e) | 146,913 | 134,228 | ||||||
| Series 2022-220, Class E, 3.000% VRN 10/16/64 (e) | 100,000 | 76,655 | ||||||
| Series 2022-196, Class BE, 3.000% VRN 10/16/64 (e) | 200,000 | 141,533 | ||||||
| Government National Mortgage Association REMICS | ||||||||
| Series 2014-22, Class IA, 0.000% FRN 11/20/42 (e) | 16,280 | 416 | ||||||
| Series 2017-H18, Class BI, 0.049% VRN 9/20/67 (e) | 2,530,048 | 108,294 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2017-H20, Class IB, 0.254% VRN 10/20/67 (e) | $ | 51,370 | $ | 1,762 | ||||
| Series 2016-135, Class SB, 1 mo. USD Term SOFR + 5.986% 0.627% FRN 10/16/46 | 96,210 | 13,164 | ||||||
| Series 2016-21, Class ST, 1 mo. USD Term SOFR + 6.036% 0.678% FRN 2/20/46 | 51,995 | 5,833 | ||||||
| Series 2017-H15, Class KI, 0.838% VRN 7/20/67 (e) | 102,486 | 4,919 | ||||||
| Series 2010-85, Class HS, 1 mo. USD Term SOFR + 6.536% 1.178% FRN 1/20/40 | 1,767 | 8 | ||||||
| Series 2012-H27, Class AI, 1.719% VRN 10/20/62 (e) | 191,267 | 6,062 | ||||||
| Series 2020-181, Class WI, 2.000% 12/20/50 | 1,227,063 | 131,393 | ||||||
| Series 2021-188, Class PA, 2.000% 10/20/51 | 491,277 | 412,924 | ||||||
| Series 2020-127, Class IN, 2.500% 8/20/50 | 144,557 | 18,950 | ||||||
| Series 2020-123, Class NI, 2.500% 8/20/50 | 369,531 | 48,815 | ||||||
| Series 2020-123, Class IL, 2.500% 8/20/50 | 139,916 | 18,244 | ||||||
| Series 2020-129, Class IE, 2.500% 9/20/50 | 150,667 | 19,644 | ||||||
| Series 2020-160, Class IH, 2.500% 10/20/50 | 156,619 | 21,157 | ||||||
| Series 2020-160, Class YI, 2.500% 10/20/50 | 611,047 | 81,939 | ||||||
| Series 2020-160, Class VI, 2.500% 10/20/50 | 226,444 | 30,651 | ||||||
| Series 2022-115, Class MI, 2.500% 5/20/51 | 228,917 | 23,929 | ||||||
| Series 2022-189, Class PT, 2.500% 10/20/51 | 280,028 | 234,546 | ||||||
| Series 2013-53, Class OI, 3.500% 4/20/43 | 241,218 | 26,591 | ||||||
| Series 2020-47, Class MI, 3.500% 4/20/50 | 242,617 | 41,325 | ||||||
| Series 2020-47, Class NI, 3.500% 4/20/50 | 68,779 | 11,888 | ||||||
| Series 2014-176, Class IA, 4.000% 11/20/44 | 33,168 | 5,635 | ||||||
| Series 2015-167, Class OI, 4.000% 4/16/45 | 42,158 | 7,445 | ||||||
| Series 2016-84, Class IG, 4.500% 11/16/45 | 192,543 | 36,339 | ||||||
| Series 2018-H07, Class FD, 1 mo. USD Term SOFR + 0.414% 5.737% FRN 5/20/68 | 142,652 | 141,322 | ||||||
| Series 2010-H28, Class FE, 1 mo. USD Term SOFR + 0.514% 5.837% FRN 12/20/60 | 47,560 | 47,219 | ||||||
| Series 2020-H13, Class FA, 1 mo. USD Term SOFR + 0.564% 5.887% FRN 7/20/70 | 124,846 | 122,412 | ||||||
| Series 2020-H13, Class FC, 1 mo. USD Term SOFR + 0.564% 5.887% FRN 7/20/70 | 47,262 | 46,366 | ||||||
| Series 2011-H08, Class FG, 1 mo. USD Term SOFR + 0.594% 5.917% FRN 3/20/61 | 46,239 | 45,996 | ||||||
| Series 2011-H09, Class AF, 1 mo. USD Term SOFR + 0.614% 5.937% FRN 3/20/61 | 21,740 | 21,614 | ||||||
| Series 2020-H09, Class FL, 1 mo. USD Term SOFR + 1.264% 6.587% FRN 5/20/70 | 369,687 | 366,844 | ||||||
| Series 2020-H09, Class NF, 1 mo. USD Term SOFR + 1.364% 6.687% FRN 4/20/70 | 102,389 | 102,661 | ||||||
| 8,792,476 | ||||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pass-Through Securities — 34.9% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #RB5084 1.500% 11/01/40 | $ | 292,441 | $ | 242,408 | ||||
| Pool #RB5110 1.500% 5/01/41 | 648,275 | 534,325 | ||||||
| Pool #RB5117 1.500% 7/01/41 | 495,830 | 406,816 | ||||||
| Pool #RA4537 1.500% 2/01/51 | 82,634 | 64,804 | ||||||
| Pool #SC0093 2.000% 10/01/40 | 281,521 | 242,468 | ||||||
| Pool #SC0160 2.000% 7/01/41 | 234,568 | 201,662 | ||||||
| Pool #SC0188 2.000% 9/01/41 | 81,028 | 69,509 | ||||||
| Pool #RB5125 2.000% 9/01/41 | 820,791 | 703,852 | ||||||
| Pool #RB5131 2.000% 10/01/41 | 166,858 | 142,773 | ||||||
| Pool #SC0206 2.000% 11/01/41 | 166,337 | 142,691 | ||||||
| Pool #RB5138 2.000% 12/01/41 | 170,063 | 145,143 | ||||||
| Pool #RB0714 2.000% 12/01/41 | 85,677 | 73,149 | ||||||
| Pool #SC0313 2.000% 1/01/42 | 731,710 | 624,490 | ||||||
| Pool #QK1354 2.000% 2/01/42 | 86,952 | 74,211 | ||||||
| Pool #RB5145 2.000% 2/01/42 | 261,416 | 223,110 | ||||||
| Pool #RB5153 2.000% 4/01/42 | 88,860 | 75,673 | ||||||
| Pool #SC0319 2.000% 4/01/42 | 91,208 | 78,043 | ||||||
| Pool #SC0384 2.000% 4/01/42 | 381,209 | 327,732 | ||||||
| Pool #QB4985 2.000% 11/01/50 | 73,355 | 60,566 | ||||||
| Pool #RA3882 2.000% 11/01/50 | 306,965 | 253,111 | ||||||
| Pool #QB8602 2.000% 2/01/51 | 72,290 | 60,251 | ||||||
| Pool #QB9087 2.000% 2/01/51 | 349,839 | 291,142 | ||||||
| Pool #QB9482 2.000% 3/01/51 | 73,342 | 60,669 | ||||||
| Pool #QC0041 2.000% 3/01/51 | 73,813 | 61,059 | ||||||
| Pool #QC0160 2.000% 3/01/51 | 64,327 | 53,393 | ||||||
| Pool #QC0161 2.000% 3/01/51 | 76,542 | 63,317 | ||||||
| Pool #QB9290 2.000% 3/01/51 | 240,893 | 200,174 | ||||||
| Pool #SD0573 2.000% 4/01/51 | 137,310 | 114,315 | ||||||
| Pool #QC0885 2.000% 4/01/51 | 78,422 | 65,289 | ||||||
| Pool #QC1164 2.000% 4/01/51 | 70,529 | 58,629 | ||||||
| Pool #SD8146 2.000% 5/01/51 | 1,139,058 | 934,773 | ||||||
| Pool #SD2230 2.000% 8/01/51 | 281,446 | 231,498 | ||||||
| Pool #SD0745 2.000% 11/01/51 | 85,948 | 71,258 | ||||||
| Pool #840698 5 yr. CMT + 1.285% 2.115% FRN 3/01/47 | 17,483 | 16,463 | ||||||
| Pool #RB5149 2.500% 3/01/42 | 87,272 | 77,081 | ||||||
| Pool #SD7521 2.500% 7/01/50 | 260,354 | 225,966 | ||||||
| Pool #SD7525 2.500% 10/01/50 | 136,056 | 118,085 | ||||||
| Pool #RA3913 2.500% 11/01/50 | 423,582 | 367,370 | ||||||
| Pool #QB5092 2.500% 11/01/50 | 141,960 | 123,121 | ||||||
| Pool #QB5093 2.500% 11/01/50 | 73,771 | 63,866 | ||||||
| Pool #RA4142 2.500% 12/01/50 | 70,833 | 61,433 | ||||||
| Pool #RA4175 2.500% 12/01/50 | 359,178 | 310,054 | ||||||
| Pool #QC0165 2.500% 3/01/51 | 71,841 | 62,352 | ||||||
| Pool #QC5830 2.500% 8/01/51 | 167,008 | 144,219 | ||||||
| Pool #SD2991 2.500% 9/01/51 | 94,337 | 81,671 | ||||||
| Pool #QC6551 2.500% 9/01/51 | 83,708 | 72,233 | ||||||
| Pool #QC7411 2.500% 9/01/51 | 86,401 | 74,530 | ||||||
| Pool #QC9443 2.500% 10/01/51 | 175,971 | 150,969 | ||||||
| Pool #SD1751 2.500% 10/01/51 | 179,849 | 155,252 | ||||||
| Pool #SD7548 2.500% 11/01/51 | 845,891 | 731,257 | ||||||
| Pool #SD0777 2.500% 11/01/51 | 85,647 | 73,615 | ||||||
| Pool #QD1850 2.500% 12/01/51 | 81,494 | 69,674 | ||||||
| Pool #SD0849 2.500% 1/01/52 | 85,116 | 73,409 | ||||||
| Pool #RA6562 2.500% 1/01/52 | 166,527 | 144,194 | ||||||
| Pool #SD7552 2.500% 1/01/52 | 434,101 | 374,188 | ||||||
| Pool #QD6079 2.500% 2/01/52 | 87,416 | 75,392 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #QD8675 2.500% 3/01/52 | $ | 88,528 | $ | 76,323 | ||||
| Pool #SD7554 2.500% 4/01/52 | 1,148,433 | 990,467 | ||||||
| Pool #SD1749 2.500% 4/01/52 | 276,623 | 237,795 | ||||||
| Pool #841077 Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.619% 2.871% FRN 11/01/47 | 109,053 | 105,449 | ||||||
| Pool #RB5166 3.000% 7/01/42 | 89,936 | 81,876 | ||||||
| Pool #SC0340 3.000% 9/01/42 | 185,063 | 168,477 | ||||||
| Pool #ZT1257 3.000% 1/01/46 | 132,358 | 121,718 | ||||||
| Pool #G67701 3.000% 10/01/46 | 528,812 | 481,987 | ||||||
| Pool #G60985 3.000% 5/01/47 | 1,056,428 | 961,894 | ||||||
| Pool #SD7509 3.000% 11/01/49 | 45,148 | 40,607 | ||||||
| Pool #QC9154 3.000% 10/01/51 | 89,117 | 79,919 | ||||||
| Pool #SD0781 3.000% 11/01/51 | 80,189 | 71,310 | ||||||
| Pool #QD7333 3.000% 2/01/52 | 90,890 | 80,927 | ||||||
| Pool #RA6954 3.000% 3/01/52 | 88,889 | 79,062 | ||||||
| Pool #QE0399 3.000% 4/01/52 | 179,978 | 160,079 | ||||||
| Pool #841076 Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.628% 3.006% FRN 11/01/48 | 409,207 | 388,126 | ||||||
| Pool #841081 Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.621% 3.096% FRN 2/01/50 | 173,439 | 165,600 | ||||||
| Pool #ZS9316 3.500% 1/01/38 | 244,224 | 233,488 | ||||||
| Pool #Q41209 3.500% 6/01/46 | 112,895 | 106,150 | ||||||
| Pool #SD1549 3.500% 4/01/52 | 272,630 | 250,612 | ||||||
| Pool #SD8214 3.500% 5/01/52 | 39 | 36 | ||||||
| Pool #SD1936 3.500% 6/01/52 | 278,005 | 255,445 | ||||||
| Pool #Q19135 4.000% 6/01/43 | 20,794 | 20,118 | ||||||
| Pool #Q19236 4.000% 6/01/43 | 14,825 | 14,329 | ||||||
| Pool #Q19615 4.000% 7/01/43 | 20,874 | 20,183 | ||||||
| Pool #Q19985 4.000% 7/01/43 | 619,274 | 598,587 | ||||||
| Pool #C09071 4.000% 2/01/45 | 113,734 | 109,712 | ||||||
| Pool #G67713 4.000% 6/01/48 | 437,878 | 423,077 | ||||||
| Pool #SD2866 4.000% 7/01/49 | 94,302 | 90,214 | ||||||
| Pool #RA7185 4.000% 4/01/52 | 351,295 | 334,749 | ||||||
| Pool #RA7186 4.000% 4/01/52 | 263,770 | 252,171 | ||||||
| Pool #SD7560 4.000% 2/01/53 | 281,867 | 269,625 | ||||||
| Pool #U92272 4.500% 12/01/43 | 2,302 | 2,262 | ||||||
| Pool #SD2792 4.500% 3/01/47 | 91,840 | 91,673 | ||||||
| Pool #Q49177 4.500% 6/01/47 | — | — | ||||||
| Pool #SD1143 4.500% 9/01/50 | 79,828 | 78,715 | ||||||
| Pool #SD0615 4.500% 1/01/51 | 83,437 | 82,299 | ||||||
| Pool #SD1807 4.500% 7/01/52 | 92,822 | 90,571 | ||||||
| Pool #SD8245 4.500% 9/01/52 | 2,746,812 | 2,666,452 | ||||||
| Pool #SD8257 4.500% 10/01/52 | 1,934,676 | 1,877,320 | ||||||
| Pool #SD2394 4.500% 11/01/52 | 93,507 | 90,829 | ||||||
| Pool #SD1775 4.500% 11/01/52 | 185,988 | 181,346 | ||||||
| Pool #SD2355 4.500% 12/01/52 | 93,692 | 90,973 | ||||||
| Pool #SD1305 5.000% 7/01/52 | 406,697 | 404,169 | ||||||
| Pool #QF5465 5.000% 12/01/52 | 93,579 | 92,854 | ||||||
| Pool #SD2374 5.000% 1/01/53 | 93,104 | 92,383 | ||||||
| Pool #SD2591 5.000% 3/01/53 | 188,238 | 187,539 | ||||||
| Pool #RA8790 5.000% 4/01/53 | 194,877 | 192,935 | ||||||
| Pool #RA8694 5.000% 4/01/53 | 191,605 | 191,432 | ||||||
| Pool #SD3722 5.000% 5/01/53 | 96,727 | 96,458 | ||||||
| Pool #G06875 5.500% 12/01/38 | 3,854 | 3,972 | ||||||
| Pool #SD8268 5.500% 11/01/52 | 6,380,518 | 6,424,799 | ||||||
| Pool #SD2245 5.500% 12/01/52 | 95,664 | 96,358 | ||||||
| Pool #SD2138 5.500% 1/01/53 | 97,089 | 98,066 | ||||||
| Pool #SD2723 5.500% 3/01/53 | 94,625 | 95,400 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #QF9985 5.500% 4/01/53 | $ | 95,825 | $ | 96,395 | ||||
| Pool #QG1295 5.500% 4/01/53 | 98,004 | 98,607 | ||||||
| Pool #SD2763 5.500% 4/01/53 | 94,936 | 95,417 | ||||||
| Pool #SD2511 5.500% 4/01/53 | 94,790 | 95,388 | ||||||
| Pool #SD2756 5.500% 5/01/53 | 94,283 | 95,099 | ||||||
| Pool #SD2762 5.500% 5/01/53 | 192,074 | 193,947 | ||||||
| Pool #SD3171 5.500% 6/01/53 | 95,004 | 95,574 | ||||||
| Pool #QG7311 5.500% 7/01/53 | 98,114 | 99,132 | ||||||
| Pool #RA9437 5.500% 7/01/53 | 98,227 | 98,848 | ||||||
| Pool #SD3475 5.500% 8/01/53 | 192,412 | 193,567 | ||||||
| Pool #QG8471 5.500% 8/01/53 | 95,185 | 95,697 | ||||||
| Pool #SD4365 5.500% 9/01/53 | 99,397 | 100,087 | ||||||
| Pool #QF4924 6.000% 12/01/52 | 85,309 | 87,674 | ||||||
| Pool #SD3432 6.000% 7/01/53 | 95,827 | 98,187 | ||||||
| Pool #SD3642 6.000% 9/01/53 | 194,724 | 200,796 | ||||||
| Pool #SD3737 6.000% 9/01/53 | 99,229 | 101,021 | ||||||
| Pool #G07509 6.500% 9/01/39 | 7,089 | 7,506 | ||||||
| Pool #G06669 6.500% 9/01/39 | 7,545 | 7,947 | ||||||
| Pool #QF6690 6.500% 1/01/53 | 84,543 | 86,805 | ||||||
| Pool #SD2452 6.500% 2/01/53 | 90,861 | 93,582 | ||||||
| Pool #RA8904 6.500% 4/01/53 | 184,889 | 190,368 | ||||||
| Pool #RA9081 6.500% 5/01/53 | 95,163 | 98,608 | ||||||
| Pool #SD2981 6.500% 5/01/53 | 182,296 | 187,270 | ||||||
| Pool #G07335 7.000% 3/01/39 | 15,371 | 16,489 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4519 1.500% 1/01/42 | 87,306 | 71,305 | ||||||
| Pool #MA4236 1.500% 1/01/51 | 163,474 | 127,843 | ||||||
| Pool #MA4280 1.500% 3/01/51 | 291,297 | 227,623 | ||||||
| Pool #MA4422 2.000% 9/01/41 | 81,828 | 70,170 | ||||||
| Pool #MA4474 2.000% 11/01/41 | 83,864 | 71,759 | ||||||
| Pool #MA4501 2.000% 12/01/41 | 170,700 | 145,686 | ||||||
| Pool #MA4540 2.000% 2/01/42 | 86,562 | 73,878 | ||||||
| Pool #FS4613 2.000% 5/01/42 | 95,524 | 81,915 | ||||||
| Pool #FS5191 2.000% 8/01/42 | 193,357 | 165,023 | ||||||
| Pool #BQ3331 2.000% 8/01/50 | 75,628 | 62,206 | ||||||
| Pool #BQ0254 2.000% 8/01/50 | 64,488 | 53,728 | ||||||
| Pool #BQ1528 2.000% 9/01/50 | 62,580 | 52,139 | ||||||
| Pool #CA7023 2.000% 9/01/50 | 145,165 | 119,674 | ||||||
| Pool #BQ4926 2.000% 10/01/50 | 144,175 | 118,588 | ||||||
| Pool #CA7224 2.000% 10/01/50 | 144,604 | 119,212 | ||||||
| Pool #CA7225 2.000% 10/01/50 | 72,127 | 59,462 | ||||||
| Pool #MA4208 2.000% 12/01/50 | 74,100 | 60,949 | ||||||
| Pool #MA4237 2.000% 1/01/51 | 607,273 | 498,931 | ||||||
| Pool #BR4052 2.000% 2/01/51 | 74,463 | 61,387 | ||||||
| Pool #MA4255 2.000% 2/01/51 | 77,003 | 63,265 | ||||||
| Pool #BR2641 2.000% 2/01/51 | 73,229 | 60,942 | ||||||
| Pool #BR2643 2.000% 2/01/51 | 68,059 | 56,555 | ||||||
| Pool #BR2644 2.000% 2/01/51 | 68,167 | 56,410 | ||||||
| Pool #BR2664 2.000% 2/01/51 | 275,696 | 229,439 | ||||||
| Pool #BR3500 2.000% 2/01/51 | 60,707 | 49,877 | ||||||
| Pool #BR3256 2.000% 2/01/51 | 69,620 | 58,069 | ||||||
| Pool #BR3257 2.000% 2/01/51 | 72,231 | 60,202 | ||||||
| Pool #BR3286 2.000% 3/01/51 | 73,997 | 61,581 | ||||||
| Pool #FM6418 2.000% 3/01/51 | 79,182 | 65,946 | ||||||
| Pool #BR4722 2.000% 3/01/51 | 70,996 | 58,729 | ||||||
| Pool #BR4753 2.000% 3/01/51 | 79,135 | 65,783 | ||||||
| Pool #BR4756 2.000% 3/01/51 | 70,274 | 58,132 | ||||||
| Pool #BR5487 2.000% 3/01/51 | 78,173 | 64,666 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #BR5587 2.000% 3/01/51 | $ | 79,591 | $ | 66,063 | ||||
| Pool #BR5633 2.000% 3/01/51 | 78,756 | 65,148 | ||||||
| Pool #FM6343 2.000% 3/01/51 | 80,335 | 66,455 | ||||||
| Pool #BQ9453 2.000% 3/01/51 | 157,075 | 130,524 | ||||||
| Pool #BR9750 2.000% 4/01/51 | 165,088 | 135,480 | ||||||
| Pool #MA4305 2.000% 4/01/51 | 484,085 | 397,266 | ||||||
| Pool #BR7745 2.000% 4/01/51 | 72,264 | 60,072 | ||||||
| Pool #BR7744 2.000% 4/01/51 | 72,290 | 60,139 | ||||||
| Pool #BR8478 2.000% 4/01/51 | 78,373 | 65,199 | ||||||
| Pool #FM9441 2.000% 4/01/51 | 83,400 | 68,521 | ||||||
| Pool #BR8518 2.000% 4/01/51 | 73,201 | 60,851 | ||||||
| Pool #MA4325 2.000% 5/01/51 | 658,708 | 540,572 | ||||||
| Pool #FS4269 2.000% 10/01/51 | 190,318 | 157,494 | ||||||
| Pool #FM9489 2.000% 11/01/51 | 174,818 | 143,465 | ||||||
| Pool #FS0349 2.000% 1/01/52 | 176,178 | 145,352 | ||||||
| Pool #FS1014 2.000% 2/01/52 | 86,241 | 71,420 | ||||||
| Pool #FS1015 2.000% 2/01/52 | 267,001 | 220,618 | ||||||
| Pool #FS4314 2.000% 3/01/52 | 94,791 | 78,205 | ||||||
| Pool #FS1112 2.000% 3/01/52 | 175,472 | 145,811 | ||||||
| Pool #MA2749 2.500% 9/01/36 | 37,830 | 34,690 | ||||||
| Pool #FM3123 2.500% 3/01/38 | 368,843 | 338,222 | ||||||
| Pool #MA4177 2.500% 11/01/40 | 58,046 | 51,776 | ||||||
| Pool #CA9358 2.500% 3/01/41 | 75,491 | 67,053 | ||||||
| Pool #CB0100 2.500% 4/01/41 | 157,176 | 139,756 | ||||||
| Pool #FS0697 2.500% 2/01/42 | 168,132 | 149,182 | ||||||
| Pool #MA4571 2.500% 3/01/42 | 86,423 | 76,332 | ||||||
| Pool #MA4587 2.500% 4/01/42 | 88,636 | 77,982 | ||||||
| Pool #FS4471 2.500% 9/01/42 | 94,689 | 83,869 | ||||||
| Pool #BK2620 2.500% 6/01/50 | 60,531 | 52,309 | ||||||
| Pool #MA4120 2.500% 9/01/50 | 54,459 | 46,705 | ||||||
| Pool #BM6623 2.500% 10/01/50 | 91,069 | 74,629 | ||||||
| Pool #CA7257 2.500% 10/01/50 | 72,340 | 62,627 | ||||||
| Pool #FM5313 2.500% 10/01/50 | 79,177 | 68,076 | ||||||
| Pool #FM4577 2.500% 10/01/50 | 190,906 | 164,916 | ||||||
| Pool #FM4899 2.500% 11/01/50 | 154,207 | 133,406 | ||||||
| Pool #BQ5876 2.500% 11/01/50 | 78,007 | 67,533 | ||||||
| Pool #BQ8435 2.500% 12/01/50 | 55,241 | 47,790 | ||||||
| Pool #BQ8482 2.500% 12/01/50 | 52,602 | 45,507 | ||||||
| Pool #FM6460 2.500% 3/01/51 | 147,554 | 127,788 | ||||||
| Pool #CB0458 2.500% 5/01/51 | 389,279 | 334,213 | ||||||
| Pool #FM7675 2.500% 6/01/51 | 197,969 | 171,326 | ||||||
| Pool #FM7676 2.500% 6/01/51 | 81,358 | 70,231 | ||||||
| Pool #FM7900 2.500% 7/01/51 | 158,694 | 136,989 | ||||||
| Pool #BT5574 2.500% 8/01/51 | 80,229 | 68,414 | ||||||
| Pool #CB1301 2.500% 8/01/51 | 650,811 | 559,970 | ||||||
| Pool #BT3303 2.500% 8/01/51 | 80,647 | 69,642 | ||||||
| Pool #FS0024 2.500% 9/01/51 | 75,560 | 65,533 | ||||||
| Pool #FM8864 2.500% 10/01/51 | 160,043 | 138,104 | ||||||
| Pool #FM9195 2.500% 10/01/51 | 251,279 | 215,577 | ||||||
| Pool #FS0434 2.500% 11/01/51 | 83,013 | 72,048 | ||||||
| Pool #FS1104 2.500% 11/01/51 | 83,675 | 72,414 | ||||||
| Pool #BU2599 2.500% 1/01/52 | 85,121 | 73,413 | ||||||
| Pool #FS0366 2.500% 1/01/52 | 85,938 | 74,533 | ||||||
| Pool #FS0424 2.500% 1/01/52 | 85,815 | 73,985 | ||||||
| Pool #BU1322 2.500% 2/01/52 | 90,731 | 77,656 | ||||||
| Pool #BV3089 2.500% 2/01/52 | 85,216 | 73,468 | ||||||
| Pool #FS0523 2.500% 2/01/52 | 88,940 | 76,540 | ||||||
| Pool #FS0551 2.500% 2/01/52 | 87,817 | 75,710 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FS0549 2.500% 2/01/52 | $ | 265,883 | $ | 228,397 | ||||
| Pool #CB3044 2.500% 3/01/52 | 89,995 | 77,448 | ||||||
| Pool #FS3368 2.500% 3/01/52 | 742,518 | 638,413 | ||||||
| Pool #FS1626 2.500% 4/01/52 | 89,465 | 76,823 | ||||||
| Pool #FS5876 2.500% 5/01/52 | 98,131 | 84,280 | ||||||
| Pool #BF0560 2.500% 9/01/61 | 87,958 | 72,767 | ||||||
| Pool #AM8674 2.810% 4/01/25 | 50,000 | 48,657 | ||||||
| Pool #MA2320 3.000% 7/01/35 | 34,458 | 32,716 | ||||||
| Pool #MA2523 3.000% 2/01/36 | 233,626 | 221,595 | ||||||
| Pool #MA2579 3.000% 4/01/36 | 168,774 | 160,083 | ||||||
| Pool #MA2773 3.000% 10/01/36 | 489,124 | 463,324 | ||||||
| Pool #MA4632 3.000% 6/01/42 | 180,157 | 164,010 | ||||||
| Pool #AQ7306 3.000% 1/01/43 | 23,143 | 20,806 | ||||||
| Pool #AR1202 3.000% 1/01/43 | 30,844 | 27,648 | ||||||
| Pool #AR7399 3.000% 6/01/43 | 17,641 | 16,203 | ||||||
| Pool #AS0038 3.000% 7/01/43 | 38,913 | 35,743 | ||||||
| Pool #AU6735 3.000% 10/01/43 | 24,303 | 22,312 | ||||||
| Pool #BC1509 3.000% 8/01/46 | 31,207 | 28,293 | ||||||
| Pool #AS7844 3.000% 9/01/46 | 55,583 | 50,393 | ||||||
| Pool #BC2817 3.000% 9/01/46 | 41,284 | 37,429 | ||||||
| Pool #BD8104 3.000% 10/01/46 | 150,896 | 137,231 | ||||||
| Pool #AL9397 3.000% 10/01/46 | 63,221 | 57,318 | ||||||
| Pool #BM1565 3.000% 4/01/47 | 581,742 | 529,060 | ||||||
| Pool #FM8576 3.000% 2/01/50 | 72,328 | 65,439 | ||||||
| Pool #FM4311 3.000% 8/01/50 | 67,796 | 60,692 | ||||||
| Pool #CA7531 3.000% 10/01/50 | 72,000 | 64,929 | ||||||
| Pool #FM8577 3.000% 8/01/51 | 151,229 | 136,328 | ||||||
| Pool #FS0037 3.000% 8/01/51 | 72,831 | 65,701 | ||||||
| Pool #FM8648 3.000% 9/01/51 | 77,525 | 69,233 | ||||||
| Pool #CB1878 3.000% 10/01/51 | 164,222 | 146,245 | ||||||
| Pool #FM9464 3.000% 11/01/51 | 161,937 | 145,425 | ||||||
| Pool #FS0034 3.000% 12/01/51 | 83,785 | 75,425 | ||||||
| Pool #BU1421 3.000% 1/01/52 | 175,777 | 157,332 | ||||||
| Pool #CB2664 3.000% 1/01/52 | 522,979 | 465,567 | ||||||
| Pool #FS1171 3.000% 1/01/52 | 424,060 | 377,109 | ||||||
| Pool #FS0240 3.000% 1/01/52 | 82,735 | 74,505 | ||||||
| Pool #FS0331 3.000% 1/01/52 | 86,816 | 77,367 | ||||||
| Pool #FS1374 3.000% 3/01/52 | 26,797 | 23,713 | ||||||
| Pool #FS0751 3.000% 3/01/52 | 173,450 | 154,274 | ||||||
| Pool #FS1074 3.000% 3/01/52 | 431,998 | 388,556 | ||||||
| Pool #FS1289 3.000% 3/01/52 | 85,158 | 76,768 | ||||||
| Pool #CB3234 3.000% 4/01/52 | 178,322 | 158,885 | ||||||
| Pool #CB3833 3.000% 6/01/52 | 91,144 | 81,096 | ||||||
| Pool #BS5734 3.345% 6/01/32 | 100,000 | 92,360 | ||||||
| Pool #MA2110 3.500% 12/01/34 | 51,164 | 49,107 | ||||||
| Pool #MA2138 3.500% 1/01/35 | 26,330 | 25,271 | ||||||
| Pool #FM5754 3.500% 3/01/37 | 45,042 | 43,230 | ||||||
| Pool #890827 3.500% 12/01/37 | 37,148 | 35,514 | ||||||
| Pool #FM0068 3.500% 2/01/40 | 186,908 | 178,166 | ||||||
| Pool #FM0071 3.500% 2/01/40 | 37,603 | 35,785 | ||||||
| Pool #MA1177 3.500% 9/01/42 | 15,485 | 14,546 | ||||||
| Pool #MA1213 3.500% 10/01/42 | 95,449 | 89,664 | ||||||
| Pool #AL3026 3.500% 12/01/42 | 30,081 | 28,401 | ||||||
| Pool #AS6541 3.500% 1/01/46 | 78,486 | 73,760 | ||||||
| Pool #AL9546 3.500% 11/01/46 | 150,839 | 141,757 | ||||||
| Pool #MA3210 3.500% 12/01/47 | 261,085 | 243,570 | ||||||
| Pool #FS5059 3.500% 11/01/48 | 855,481 | 800,496 | ||||||
| Pool #FM3773 3.500% 11/01/48 | 350,038 | 327,212 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FM7100 3.500% 6/01/50 | $ | 55,144 | $ | 51,462 | ||||
| Pool #FS1240 3.500% 12/01/51 | 84,025 | 77,547 | ||||||
| Pool #FS1237 3.500% 12/01/51 | 82,269 | 76,550 | ||||||
| Pool #FS2296 3.500% 1/01/52 | 86,108 | 79,369 | ||||||
| Pool #CB2680 3.500% 1/01/52 | 83,808 | 77,406 | ||||||
| Pool #FS1462 3.500% 1/01/52 | 85,319 | 79,388 | ||||||
| Pool #CB3282 3.500% 4/01/52 | 176,303 | 161,997 | ||||||
| Pool #FS2707 3.500% 4/01/52 | 181,117 | 166,490 | ||||||
| Pool #BV5395 3.500% 4/01/52 | 83,356 | 77,529 | ||||||
| Pool #FS1092 3.500% 4/01/52 | 261,333 | 240,957 | ||||||
| Pool #FS1454 3.500% 4/01/52 | 87,950 | 81,099 | ||||||
| Pool #FS1555 3.500% 4/01/52 | 89,123 | 82,281 | ||||||
| Pool #FS1603 3.500% 5/01/52 | 88,720 | 81,700 | ||||||
| Pool #BV8546 3.500% 5/01/52 | 86,352 | 80,154 | ||||||
| Pool #FS1556 3.500% 5/01/52 | 355,078 | 329,842 | ||||||
| Pool #FS3339 3.500% 6/01/52 | 276,847 | 254,381 | ||||||
| Pool #BS6215 3.840% 7/01/32 | 100,000 | 95,364 | ||||||
| Pool #BS6131 3.890% 7/01/32 | 300,000 | 280,169 | ||||||
| Pool #BS6949 3.980% 10/01/32 | 200,000 | 188,725 | ||||||
| Pool #AK8441 4.000% 4/01/42 | 12,893 | 12,475 | ||||||
| Pool #AO2711 4.000% 5/01/42 | 9,770 | 9,437 | ||||||
| Pool #AO6086 4.000% 6/01/42 | 18,369 | 17,743 | ||||||
| Pool #AP0692 4.000% 7/01/42 | 13,918 | 13,478 | ||||||
| Pool #AP5333 4.000% 7/01/42 | 140,805 | 135,928 | ||||||
| Pool #AP2530 4.000% 8/01/42 | 14,851 | 14,355 | ||||||
| Pool #AP4903 4.000% 9/01/42 | 22,562 | 21,829 | ||||||
| Pool #AP7399 4.000% 9/01/42 | 35,226 | 34,012 | ||||||
| Pool #AP9229 4.000% 10/01/42 | 6,751 | 6,516 | ||||||
| Pool #AP9766 4.000% 10/01/42 | 53,809 | 51,577 | ||||||
| Pool #MA1217 4.000% 10/01/42 | 68,584 | 65,811 | ||||||
| Pool #AQ3599 4.000% 11/01/42 | 15,773 | 15,230 | ||||||
| Pool #MA1253 4.000% 11/01/42 | 42,952 | 41,202 | ||||||
| Pool #AQ7003 4.000% 12/01/42 | 26,054 | 25,194 | ||||||
| Pool #AQ4555 4.000% 12/01/42 | 27,007 | 26,083 | ||||||
| Pool #AQ7082 4.000% 1/01/43 | 34,184 | 33,043 | ||||||
| Pool #AL3508 4.000% 4/01/43 | 22,092 | 21,336 | ||||||
| Pool #AQ4078 4.000% 6/01/43 | 20,636 | 19,972 | ||||||
| Pool #AQ4080 4.000% 6/01/43 | 14,782 | 14,304 | ||||||
| Pool #AT8394 4.000% 6/01/43 | 23,093 | 22,300 | ||||||
| Pool #AB9683 4.000% 6/01/43 | 30,918 | 29,861 | ||||||
| Pool #AT9637 4.000% 7/01/43 | 62,233 | 60,088 | ||||||
| Pool #AT9653 4.000% 7/01/43 | 47,099 | 45,479 | ||||||
| Pool #AT9657 4.000% 7/01/43 | 36,660 | 35,397 | ||||||
| Pool #AS0070 4.000% 8/01/43 | 21,949 | 21,018 | ||||||
| Pool #MA1547 4.000% 8/01/43 | 21,936 | 21,010 | ||||||
| Pool #FM3049 4.000% 4/01/44 | 200,460 | 193,516 | ||||||
| Pool #AS4347 4.000% 1/01/45 | 36,464 | 35,259 | ||||||
| Pool #CA2472 4.000% 10/01/48 | 85,382 | 81,841 | ||||||
| Pool #CB3320 4.000% 4/01/52 | 143,553 | 136,791 | ||||||
| Pool #MA4626 4.000% 6/01/52 | 13,640,632 | 12,916,094 | ||||||
| Pool #FS6158 4.000% 7/01/52 | 295,985 | 280,634 | ||||||
| Pool #BF0104 4.000% 2/01/56 | 72,495 | 67,346 | ||||||
| Pool #BF0183 4.000% 1/01/57 | 40,801 | 37,890 | ||||||
| Pool #BF0191 4.000% 6/01/57 | 70,762 | 66,545 | ||||||
| Pool #BS6124 4.060% 7/01/32 | 100,000 | 94,811 | ||||||
| Pool #MA0706 4.500% 4/01/31 | 8,253 | 8,272 | ||||||
| Pool #MA0734 4.500% 5/01/31 | 29,085 | 29,152 | ||||||
| Pool #MA0776 4.500% 6/01/31 | 9,779 | 9,801 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA0913 4.500% 11/01/31 | $ | 7,426 | $ | 7,436 | ||||
| Pool #MA0939 4.500% 12/01/31 | 7,540 | 7,550 | ||||||
| Pool #MA1591 4.500% 9/01/43 | 41,755 | 40,943 | ||||||
| Pool #MA1629 4.500% 10/01/43 | 35,203 | 34,518 | ||||||
| Pool #MA1664 4.500% 11/01/43 | 17,247 | 16,913 | ||||||
| Pool #MA1711 4.500% 12/01/43 | 38,595 | 37,854 | ||||||
| Pool #AL4741 4.500% 1/01/44 | 15,382 | 15,087 | ||||||
| Pool #890604 4.500% 10/01/44 | 173,282 | 172,923 | ||||||
| Pool #AS4271 4.500% 1/01/45 | 21,220 | 21,209 | ||||||
| Pool #CA2047 4.500% 7/01/48 | 155,019 | 153,536 | ||||||
| Pool #FM1263 4.500% 7/01/49 | 39,608 | 39,043 | ||||||
| Pool #FS3589 4.500% 1/01/50 | 381,933 | 381,230 | ||||||
| Pool #FS4480 4.500% 3/01/50 | 89,895 | 89,737 | ||||||
| Pool #CA5379 4.500% 3/01/50 | 161,767 | 159,524 | ||||||
| Pool #MA4031 4.500% 5/01/50 | 66,891 | 65,797 | ||||||
| Pool #FS0067 4.500% 9/01/51 | 69,687 | 68,481 | ||||||
| Pool #FS2914 4.500% 9/01/52 | 92,124 | 89,976 | ||||||
| Pool #MA4733 4.500% 9/01/52 | 3,939,800 | 3,824,538 | ||||||
| Pool #FS3813 4.500% 11/01/52 | 88,237 | 85,656 | ||||||
| Pool #FS3977 4.500% 11/01/52 | 93,312 | 90,604 | ||||||
| Pool #FS3836 4.500% 1/01/53 | 93,157 | 90,490 | ||||||
| Pool #CB5892 4.500% 3/01/53 | 57,353 | 55,688 | ||||||
| Pool #CB6030 4.500% 4/01/53 | 38,942 | 37,763 | ||||||
| Pool #BF0148 4.500% 4/01/56 | 327,390 | 316,421 | ||||||
| Pool #BF0222 4.500% 9/01/57 | 347,699 | 337,744 | ||||||
| Pool #BF0301 4.500% 8/01/58 | 35,068 | 34,009 | ||||||
| Pool #BF0338 4.500% 1/01/59 | 85,319 | 82,743 | ||||||
| Pool #310088 5.000% 6/01/38 | 17,086 | 17,390 | ||||||
| Pool #FS4570 5.000% 12/01/47 | 180,757 | 183,907 | ||||||
| Pool #CB3880 5.000% 6/01/52 | 86,689 | 86,692 | ||||||
| Pool #BW0048 5.000% 7/01/52 | 84,267 | 83,863 | ||||||
| Pool #CB4103 5.000% 7/01/52 | 177,041 | 178,707 | ||||||
| Pool #BW9916 5.000% 10/01/52 | 93,646 | 92,778 | ||||||
| Pool #MA4785 5.000% 10/01/52 | 1,500,286 | 1,487,210 | ||||||
| Pool #FS3249 5.000% 11/01/52 | 91,533 | 90,793 | ||||||
| Pool #MA4806 5.000% 11/01/52 | 7,098,122 | 7,036,259 | ||||||
| Pool #FS3941 5.000% 2/01/53 | 95,741 | 94,999 | ||||||
| Pool #FS5155 5.000% 7/01/53 | 189,721 | 191,032 | ||||||
| Pool #BS9454 5.340% 9/01/28 | 100,000 | 103,623 | ||||||
| Pool #BS9960 5.360% 12/01/33 | 200,000 | 212,133 | ||||||
| Pool #995072 5.500% 8/01/38 | 9,696 | 10,042 | ||||||
| Pool #CB5108 5.500% 11/01/52 | 187,825 | 189,187 | ||||||
| Pool #FS3672 5.500% 2/01/53 | 193,040 | 195,948 | ||||||
| Pool #BY0903 5.500% 4/01/53 | 95,645 | 96,219 | ||||||
| Pool #FS4166 5.500% 4/01/53 | 95,100 | 95,641 | ||||||
| Pool #CB6322 5.500% 5/01/53 | 95,751 | 96,446 | ||||||
| Pool #FS4805 5.500% 5/01/53 | 98,694 | 99,872 | ||||||
| Pool #FS4979 5.500% 5/01/53 | 95,803 | 96,348 | ||||||
| Pool #FS5437 5.500% 6/01/53 | 294,891 | 296,477 | ||||||
| Pool #FS5647 5.500% 7/01/53 | 96,832 | 97,791 | ||||||
| Pool #FS6451 5.500% 8/01/53 | 199,578 | 201,150 | ||||||
| Pool #CB7114 5.500% 9/01/53 | 489,447 | 492,079 | ||||||
| Pool #BF0141 5.500% 9/01/56 | 359,842 | 368,074 | ||||||
| Pool #481473 6.000% 2/01/29 | 8 | 8 | ||||||
| Pool #867557 6.000% 2/01/36 | 1,008 | 1,024 | ||||||
| Pool #FS4000 6.000% 7/01/41 | 88,382 | 91,851 | ||||||
| Pool #CB5316 6.000% 12/01/52 | 88,894 | 90,555 | ||||||
| Pool #FS3411 6.000% 1/01/53 | 88,929 | 90,674 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FS4132 6.000% 3/01/53 | $ | 94,029 | $ | 95,667 | ||||
| Pool #FS4573 6.000% 5/01/53 | 189,668 | 193,864 | ||||||
| Pool #CB6540 6.000% 6/01/53 | 288,980 | 296,185 | ||||||
| Pool #CB6753 6.000% 7/01/53 | 288,378 | 294,847 | ||||||
| Pool #FS5306 6.000% 7/01/53 | 95,568 | 98,876 | ||||||
| Pool #AL4324 6.500% 5/01/40 | 46,586 | 49,294 | ||||||
| Pool #CB5497 6.500% 1/01/53 | 90,290 | 93,501 | ||||||
| Pool #BX7702 6.500% 2/01/53 | 90,986 | 93,711 | ||||||
| Pool #AE0758 7.000% 2/01/39 | 24,467 | 26,168 | ||||||
| Government National Mortgage Association | ||||||||
| Pool #AB2892 3.000% 9/15/42 | 71,044 | 65,365 | ||||||
| Pool #AA5649 3.000% 9/15/42 | 67,298 | 61,873 | ||||||
| Pool #783669 3.000% 9/15/42 | 127,525 | 117,389 | ||||||
| Pool #AB9108 3.000% 10/15/42 | 489,360 | 449,799 | ||||||
| Pool #AB9109 3.000% 10/15/42 | 42,111 | 38,707 | ||||||
| Pool #AB9207 3.000% 11/15/42 | 36,241 | 33,319 | ||||||
| Pool #784571 3.500% 6/15/48 | 150,005 | 141,895 | ||||||
| Pool #BS8439 3.500% 5/15/50 | 120,002 | 112,652 | ||||||
| Pool #487588 6.000% 4/15/29 | 463 | 472 | ||||||
| Pool #595077 6.000% 10/15/32 | 166 | 171 | ||||||
| Pool #604706 6.000% 10/15/33 | 23,540 | 24,381 | ||||||
| Pool #636251 6.000% 3/15/35 | 3,329 | 3,458 | ||||||
| Pool #782034 6.000% 1/15/36 | 23,887 | 24,809 | ||||||
| Pool #658029 6.000% 7/15/36 | 6,511 | 6,790 | ||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA7135 2.000% 1/20/51 | 349,824 | 296,218 | ||||||
| Pool #MA7192 2.000% 2/20/51 | 341,344 | 289,037 | ||||||
| Pool #786726 2.000% 3/20/51 | 286,828 | 236,736 | ||||||
| Pool #BS8546 2.500% 12/20/50 | 70,217 | 60,728 | ||||||
| Pool #MA7136 2.500% 1/20/51 | 60,292 | 52,969 | ||||||
| Pool #785565 2.500% 6/20/51 | 163,855 | 141,867 | ||||||
| Pool #785558 2.500% 7/20/51 | 80,044 | 69,453 | ||||||
| Pool #785568 2.500% 8/20/51 | 241,708 | 209,046 | ||||||
| Pool #785657 2.500% 10/20/51 | 502,037 | 434,196 | ||||||
| Pool #785663 2.500% 10/20/51 | 165,051 | 142,747 | ||||||
| Pool #785667 2.500% 10/20/51 | 167,794 | 145,119 | ||||||
| Pool #785762 2.500% 11/20/51 | 86,054 | 74,399 | ||||||
| Pool #785789 2.500% 12/20/51 | 84,018 | 72,638 | ||||||
| Pool #785821 2.500% 12/20/51 | 174,253 | 150,651 | ||||||
| Pool #785791 2.500% 12/20/51 | 167,687 | 144,870 | ||||||
| Pool #MA4068 3.000% 11/20/46 | 17,537 | 16,111 | ||||||
| Pool #MA7590 3.000% 9/20/51 | 988,595 | 897,497 | ||||||
| Pool #MA7650 3.000% 10/20/51 | 158,362 | 143,522 | ||||||
| Pool #MA7706 3.000% 11/20/51 | 172,482 | 156,588 | ||||||
| Pool #CJ9477 3.000% 1/20/52 | 254,283 | 228,606 | ||||||
| Pool #785944 3.000% 2/20/52 | 86,790 | 78,162 | ||||||
| Pool #786150 3.000% 3/20/52 | 270,630 | 243,303 | ||||||
| Pool #786843 3.000% 3/20/52 | 193,062 | 173,688 | ||||||
| Pool #786095 3.000% 4/20/52 | 90,088 | 79,724 | ||||||
| Pool #786134 3.000% 4/20/52 | 81,881 | 73,485 | ||||||
| Pool #MA1995 3.500% 6/20/44 | 44,456 | 42,143 | ||||||
| Pool #MA2678 3.500% 3/20/45 | 19,126 | 18,125 | ||||||
| Pool #784106 3.500% 1/20/46 | 50,322 | 47,610 | ||||||
| Pool #MA3597 3.500% 4/20/46 | 79,208 | 74,913 | ||||||
| Pool #BC4732 3.500% 10/20/47 | 174,564 | 163,244 | ||||||
| Pool #BD0384 3.500% 10/20/47 | 127,442 | 119,178 | ||||||
| Pool #MA5465 3.500% 9/20/48 | 126,180 | 118,905 | ||||||
| Pool #MA5594 3.500% 11/20/48 | 158,378 | 149,048 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #784825 3.500% 10/20/49 | $ | 38,679 | $ | 35,543 | ||||
| Pool #BM7534 3.500% 2/20/50 | 55,711 | 51,558 | ||||||
| Pool #MA6711 3.500% 6/20/50 | 304,618 | 286,150 | ||||||
| Pool #MA6997 3.500% 11/20/50 | 373,989 | 351,199 | ||||||
| Pool #786216 3.500% 6/20/52 | 91,305 | 83,843 | ||||||
| Pool #MA4511 4.000% 6/20/47 | 485,687 | 471,596 | ||||||
| Pool #MA4720 4.000% 9/20/47 | 318,374 | 309,138 | ||||||
| Pool #MA5078 4.000% 3/20/48 | 262,384 | 254,198 | ||||||
| Pool #MA5763 4.000% 2/20/49 | 110,114 | 106,334 | ||||||
| Pool #BM9734 4.000% 10/20/49 | 29,060 | 27,817 | ||||||
| Pool #BM9743 4.000% 11/20/49 | 34,328 | 32,860 | ||||||
| Pool #BS1728 4.000% 1/20/50 | 35,894 | 34,359 | ||||||
| Pool #BS1742 4.000% 2/20/50 | 31,130 | 29,799 | ||||||
| Pool #BS1757 4.000% 3/20/50 | 29,520 | 28,230 | ||||||
| Pool #BS8420 4.000% 4/20/50 | 120,829 | 115,549 | ||||||
| Pool #CK9592 4.000% 6/20/52 | 90,460 | 86,140 | ||||||
| Pool #786429 4.000% 6/20/52 | 93,660 | 89,860 | ||||||
| Pool #783298 4.500% 4/20/41 | 70,922 | 70,752 | ||||||
| Pool #783368 4.500% 7/20/41 | 10,621 | 10,598 | ||||||
| Pool #MA4654 4.500% 8/20/47 | 107,831 | 107,308 | ||||||
| Pool #MA5138 4.500% 4/20/48 | 161,710 | 160,066 | ||||||
| Pool #MA5193 4.500% 5/20/48 | 163,835 | 161,914 | ||||||
| Pool #MA5265 4.500% 6/20/48 | 223,241 | 220,344 | ||||||
| Pool #MA5331 4.500% 7/20/48 | 35,770 | 35,283 | ||||||
| Pool #MA5711 4.500% 1/20/49 | 71,495 | 70,455 | ||||||
| Pool #MA5764 4.500% 2/20/49 | 89,592 | 88,262 | ||||||
| Pool #MA5818 4.500% 3/20/49 | 268,665 | 264,760 | ||||||
| Pool #786366 4.500% 8/20/52 | 186,747 | 182,573 | ||||||
| Pool #786335 4.500% 9/20/52 | 185,138 | 181,000 | ||||||
| Pool #004747 5.000% 7/20/40 | 44,103 | 44,812 | ||||||
| Pool #MA5194 5.000% 5/20/48 | 18,476 | 18,612 | ||||||
| Pool #MA5530 5.000% 10/20/48 | 74,781 | 75,095 | ||||||
| Pool #MA5597 5.000% 11/20/48 | 37,257 | 37,413 | ||||||
| Pool #MA5653 5.000% 12/20/48 | 45,579 | 45,756 | ||||||
| Pool #MA5712 5.000% 1/20/49 | 200,697 | 201,477 | ||||||
| Pool #MA5878 5.000% 4/20/49 | 18,276 | 18,352 | ||||||
| Pool #MA6287 5.000% 11/20/49 | 16,300 | 16,419 | ||||||
| Pool #MA6413 5.000% 1/20/50 | 36,002 | 36,221 | ||||||
| Pool #786340 5.000% 9/20/52 | 94,201 | 94,420 | ||||||
| Pool #MA8348 5.000% 10/20/52 | 93,510 | 92,996 | ||||||
| Pool #MA8428 5.000% 11/20/52 | 283,607 | 282,051 | ||||||
| Pool #MA8490 5.000% 12/20/52 | 284,729 | 283,077 | ||||||
| Pool #786474 5.000% 1/20/53 | 188,635 | 189,250 | ||||||
| Pool #MA8647 5.000% 2/20/53 | 4,033,938 | 4,011,798 | ||||||
| Pool #MA8725 5.000% 3/20/53 | 4,060,989 | 4,042,507 | ||||||
| Pool #786709 5.000% 5/20/53 | 97,309 | 97,535 | ||||||
| Pool #MA8947 5.000% 6/20/53 | 2,190,302 | 2,176,911 | ||||||
| Pool #787058 5.000% 8/20/53 | 393,415 | 392,854 | ||||||
| Pool #MA8429 5.500% 11/20/52 | 280,089 | 282,043 | ||||||
| Pool #MA8648 5.500% 2/20/53 | 1,686,303 | 1,698,593 | ||||||
| Pool #786535 5.500% 2/20/53 | 96,262 | 97,625 | ||||||
| Pool #MA8726 5.500% 3/20/53 | 288,997 | 290,923 | ||||||
| Pool #MA8801 5.500% 4/20/53 | 5,882,793 | 5,921,991 | ||||||
| Pool #MA8879 5.500% 5/20/53 | 4,531,850 | 4,559,214 | ||||||
| Pool #MA8948 5.500% 6/20/53 | 1,448,076 | 1,456,820 | ||||||
| Pool #786831 5.500% 7/20/53 | 98,867 | 100,267 | ||||||
| Pool #786835 5.500% 8/20/53 | 199,072 | 201,643 | ||||||
| Pool #786916 5.500% 8/20/53 | 498,248 | 504,681 | ||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA9171 5.500% 9/20/53 | $ | 3,588,944 | $ | 3,610,614 | ||||
| Pool #MA9241 5.500% 10/20/53 | 3,717,009 | 3,739,453 | ||||||
| Pool #MA9107 6.000% 8/20/53 | 2,516,116 | 2,558,072 | ||||||
| Pool #786928 6.500% 9/20/53 (h) | 99,114 | 104,466 | ||||||
| Government National Mortgage Association II, TBA | ||||||||
| 2.000% 1/20/54 (h) | 400,000 | 338,765 | ||||||
| 2.500% 1/20/54 (h) | 500,000 | 437,984 | ||||||
| 3.000% 1/20/54 (h) | 400,000 | 362,387 | ||||||
| 3.500% 1/20/54 (h) | 400,000 | 372,575 | ||||||
| 4.000% 1/20/54 (h) | 200,000 | 191,066 | ||||||
| 5.000% 1/20/54 (h) | 800,000 | 795,142 | ||||||
| 5.500% 1/20/54 (h) | 400,000 | 402,481 | ||||||
| 6.000% 1/20/54 (h) | 100,000 | 101,635 | ||||||
| 6.500% 3/20/54 (h) | 100,000 | 102,058 | ||||||
| Uniform Mortgage-Backed Security, TBA | ||||||||
| 2.000% 1/01/54 (h) | 200,000 | 163,534 | ||||||
| 3.000% 1/01/54 (h) | 100,000 | 88,516 | ||||||
| 4.000% 1/01/54 (h) | 100,000 | 94,641 | ||||||
| 4.500% 1/01/54 (h) | 100,000 | 97,016 | ||||||
| 5.000% 1/01/54 (h) | 900,000 | 891,000 | ||||||
| 141,744,838 | ||||||||
| Whole Loans — 0.7% | ||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust | ||||||||
| Series 2020-DNA6, Class M2, 30 day USD SOFR Average + 2.000% 7.337% FRN 12/25/50 (b) | 542,210 | 549,620 | ||||||
| Series 2023-DNA2, Class M1A, 30 day USD SOFR Average + 2.100% 7.437% FRN 4/25/43 (b) | 248,290 | 252,008 | ||||||
| Series 2021-DNA6, Class B1, 30 day USD SOFR Average + 3.400% 8.737% FRN 10/25/41 (b) | 260,000 | 265,024 | ||||||
| Series 2022-DNA2, Class M2, 30 day USD SOFR Average + 3.750% 9.087% FRN 2/25/42 (b) | 120,000 | 123,878 | ||||||
| Series 2020-DNA3, Class B1, 30 day USD SOFR Average + 5.214% 10.552% FRN 6/25/50 (b) | 250,003 | 274,014 | ||||||
| Series 2022-DNA3, Class B1, 30 day USD SOFR Average + 5.650% 10.987% FRN 4/25/42 (b) | 120,000 | 127,363 | ||||||
| Federal National Mortgage Association Connecticut Avenue Securities | ||||||||
| Series 2019-R07, Class 1M2, 30 day USD SOFR Average + 2.214% 7.552% FRN 10/25/39 (b) | 2,317 | 2,320 | ||||||
| Series 2023-R08, Class 1M2, 30 day USD SOFR Average + 2.500% 7.837% FRN 10/25/43 (b) | 200,000 | 204,409 | ||||||
| Series 2022-R07, Class 1M1, 30 day USD SOFR Average + 2.950% 8.287% FRN 6/25/42 (b) | 243,385 | 250,687 | ||||||
| Series 2022-R04, Class 1M2, 30 day USD SOFR Average + 3.100% 8.437% FRN 3/25/42 (b) | 680,000 | 699,743 | ||||||
| 2,749,066 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $157,804,497) | 153,286,380 | |||||||
| MassMutual Strategic Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| U.S. TREASURY OBLIGATIONS — 21.3% | ||||||||
| U.S. Treasury Bonds & Notes — 21.3% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 2.000% 11/15/41 | $ | 160,000 | $ | 115,950 | ||||
| 2.000% 2/15/50 | 410,000 | 270,324 | ||||||
| 2.375% 5/15/51 | 730,000 | 522,292 | ||||||
| 2.875% 5/15/49 | 210,000 | 167,278 | ||||||
| 2.875% 5/15/52 | 3,760,000 | 3,000,137 | ||||||
| 3.000% 2/15/48 | 16,000 | 13,059 | ||||||
| 3.000% 2/15/49 | 800,000 | 652,500 | ||||||
| 3.000% 8/15/52 | 24,220,000 | 19,849,695 | ||||||
| 3.625% 2/15/44 | 20,000 | 18,347 | ||||||
| 3.625% 5/15/53 | 190,000 | 176,106 | ||||||
| 4.000% 11/15/42 | 320,000 | 311,581 | ||||||
| 4.125% 8/15/53 | 520,000 | 526,908 | ||||||
| 4.375% 8/15/43 | 170,000 | 173,825 | ||||||
| 4.750% 11/15/43 (c) | 1,600,000 | 1,719,264 | ||||||
| 4.750% 11/15/53 | 2,250,000 | 2,529,844 | ||||||
| U.S. Treasury Floating Rate Notes | ||||||||
| 3 mo. Treasury money market yield + 0.169% 5.500% FRN 4/30/25 | 12,160,000 | 12,148,303 | ||||||
| 3 mo. Treasury money market yield + 0.200% 5.531% FRN 1/31/25 | 4,640,000 | 4,638,699 | ||||||
| U.S. Treasury Inflation-Indexed Notes | ||||||||
| 1.125% 1/15/33 | 2,478,960 | 2,344,843 | ||||||
| U.S. Treasury Notes | ||||||||
| 3.875% 8/15/33 | 27,410,000 | 27,388,587 | ||||||
| 4.125% 8/31/30 | 20,000 | 20,259 | ||||||
| 4.125% 11/15/32 | 7,260,000 | 7,382,512 | ||||||
| 4.375% 8/31/28 | 20,000 | 20,430 | ||||||
| 4.375% 11/30/30 | 1,580,000 | 1,625,425 | ||||||
| 4.500% 11/15/33 | 130,000 | 136,541 | ||||||
| 4.750% 7/31/25 | 60,000 | 60,274 | ||||||
| U.S. Treasury STRIPS Principal | ||||||||
| 0.000% 5/15/49 | 1,450,000 | 510,548 | ||||||
| 86,323,531 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $87,007,204) | 86,323,531 | |||||||
| TOTAL BONDS & NOTES (Cost $407,252,155) | 391,660,280 | |||||||
| TOTAL PURCHASED OPTIONS (#) — 0.0% (Cost $177,279) | 102,827 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $407,429,434) | 391,763,107 | |||||||
| SHORT-TERM INVESTMENTS — 3.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (i) | 4,693,315 | 4,693,315 | ||||||
Principal Amount | ||||||||
| Repurchase Agreement — 1.8% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (j) | $ | 7,440,501 | 7,440,501 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $12,133,816) | 12,133,816 | |||||||
| TOTAL INVESTMENTS — 99.6% (Cost $419,563,250) (k) | 403,896,923 | |||||||
| Other Assets/(Liabilities) — 0.4% | 1,620,065 | |||||||
| NET ASSETS — 100.0% | $ | 405,516,988 | ||||||
Abbreviation Legend
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury Index |
| FRN | Floating Rate Note |
| IBOR | InterBank Offered Rate |
| LIBOR | London InterBank Offered Rate |
| MTA | Monthly Treasury Average Index |
| REMICS | Real Estate Mortgage Investment Conduits |
| SOFR | Secured Overnight Financing Rate |
| STEP | Step Up Bond |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities |
| TBA | To Be Announced |
| VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | All or a portion of the security represents unsettled bank loan commitments at December 31, 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 December 31, 2023, the aggregate market value of these securities amounted to $44,979,824 or 11.09% of net assets. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $4,831,096 or 1.19% of net assets. The Fund received $238,862 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (d) | Security is perpetual and has no stated maturity date. |
| (e) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2023. |
| (f) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (g) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (h) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (i) | Represents investment of security lending cash collateral. (Note 2). |
| (j) | Maturity value of $7,441,824. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $7,589,405. |
| (k) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||||||
| USD Call EUR Put | BNP Paribas S.A. | 2/22/24 | 1.06 | 1,730,000 | USD | 1,730,000 | $ | 1,588 | $ | 4,774 | $ | (3,186) | ||||||||||||||||||||
| USD Call CAD Put | BNP Paribas S.A. | 3/21/24 | 1.37 | 1,710,000 | USD | 1,710,000 | 2,565 | 4,035 | (1,470) | |||||||||||||||||||||||
| USD Call EUR Put | Citigroup Global Markets, Inc | 2/06/24 | 1.06 | 923,873 | USD | 923,873 | 277 | 6,194 | (5,917) | |||||||||||||||||||||||
| USD Call CHF Put | Goldman Sachs & Co. | 3/15/24 | 0.85 | 1,299,972 | USD | 1,299,972 | 7,171 | 7,389 | (218) | |||||||||||||||||||||||
| USD Call EUR Put | JP Morgan Chase Bank N.A. | 2/02/24 | 1.06 | 1,048,934 | USD | 1,048,934 | 237 | 13,778 | (13,541) | |||||||||||||||||||||||
| $ | 11,838 | $ | 36,170 | $ | (24,332) | |||||||||||||||||||||||||||
| (#) Exchange-Traded Options Purchased | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 111.50 | 52 | USD | 5,870,313 | $ | 19,500 | $ | 30,965 | $ | (11,465) | |||||||||||||||||
| U.S. Treasury Note 5 Year Future | 1/26/24 | 107.75 | 51 | USD | 5,547,445 | 12,352 | 22,034 | (9,682) | ||||||||||||||||||||
| 3 Month SOFR Future | 3/15/24 | 94.50 | 97 | USD | 23,041,138 | 1,212 | 18,391 | (17,179) | ||||||||||||||||||||
| 3 Month SOFR Future | 4/12/24 | 94.75 | 47 | USD | 11,219,488 | 2,350 | 6,874 | (4,524) | ||||||||||||||||||||
| 3 Month SOFR Future | 12/13/24 | 96.00 | 57 | USD | 13,718,475 | 55,575 | 62,845 | (7,270) | ||||||||||||||||||||
| $ | 90,989 | $ | 141,109 | $ | (50,120) | |||||||||||||||||||||||
| OTC Options Written | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||||||
| USD Put MXN Call | Morgan Stanley & Co. LLC | 2/22/24 | 16.80 | 1,054,256 | USD | 1,054,256 | $ | (10,045) | $ | (7,837) | $ | (2,208) | ||||||||||||||||||||
| Exchange-Traded Options Written | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 114.00 | 20 | USD | 2,257,813 | $ | (9,688) | $ | (9,028) | $ | (660) | |||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 115.00 | 52 | USD | 5,870,313 | (13,813) | (19,411) | 5,598 | ||||||||||||||||||||
| U.S. Treasury Note 5 Year Future | 1/26/24 | 110.25 | 51 | USD | 5,547,445 | (9,961) | (13,459) | 3,498 | ||||||||||||||||||||
| 3 Month SOFR Future | 9/13/24 | 96.88 | 32 | USD | 7,672,400 | (13,000) | (13,958) | 958 | ||||||||||||||||||||
| 3 Month SOFR Future | 9/13/24 | 97.00 | 80 | USD | 19,181,000 | (28,500) | (62,832) | 34,332 | ||||||||||||||||||||
| 3 Month SOFR Future | 12/13/24 | 97.13 | 57 | USD | 13,718,475 | (35,269) | (30,943) | (4,326) | ||||||||||||||||||||
| $ | (110,231) | $ | (149,631) | $ | 39,400 | |||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 110.00 | 52 | USD | 5,870,313 | $ | (5,688) | $ | (11,286) | $ | 5,598 | |||||||||||||||||
| U.S. Treasury Note 5 Year Future | 1/26/24 | 106.75 | 51 | USD | 5,547,445 | (3,586) | (8,310) | 4,724 | ||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 2/23/24 | 108.00 | 84 | USD | 9,482,813 | (10,500) | (40,792) | 30,292 | ||||||||||||||||||||
| 3 Month SOFR Future | 6/14/24 | 94.50 | 155 | USD | 37,000,438 | (8,719) | (53,925) | 45,206 | ||||||||||||||||||||
| 3 Month SOFR Future | 12/13/24 | 95.50 | 57 | USD | 13,718,475 | (28,500) | (33,380) | 4,880 | ||||||||||||||||||||
| $ | (56,993) | $ | (147,693) | $ | 90,700 | |||||||||||||||||||||||
| $ | (167,224) | $ | (297,324) | $ | 130,100 | |||||||||||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 1/19/24 | CAD | 2,089,864 | USD | 1,534,138 | $ | 43,450 | |||||||||
| BNP Paribas SA | 1/19/24 | AUD | 6,786,180 | USD | 4,318,502 | 308,326 | ||||||||||
| BNP Paribas SA | 1/19/24 | EUR | 872,448 | USD | 924,971 | 38,769 | ||||||||||
| BNP Paribas SA | 1/19/24 | IDR | 4,476,400,100 | USD | 281,671 | 9,017 | ||||||||||
| BNP Paribas SA | 1/19/24 | USD | 2,057,037 | GBP | 1,683,025 | (88,418) | ||||||||||
| Citibank N.A. | 1/19/24 | MXN | 3,172,012 | USD | 173,311 | 13,015 | ||||||||||
| Citibank N.A. | 1/19/24 | IDR | 10,919,267,185 | USD | 705,869 | 3,205 | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 1,703,864 | CNH | 12,372,265 | (34,336) | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 2,008,551 | IDR | 31,594,508,090 | (43,130) | ||||||||||
| Goldman Sachs International | 1/19/24 | ZAR | 6,889,002 | USD | 358,336 | 17,767 | ||||||||||
| Goldman Sachs International | 1/19/24 | USD | 363,251 | ZAR | 6,889,002 | (12,851) | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | NOK | 12,358,698 | EUR | 1,067,222 | 38,010 | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | JPY | 831,189,083 | USD | 5,641,832 | 266,103 | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | MXN | 15,153,820 | USD | 867,469 | 22,677 | ||||||||||
| $ | 581,604 | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Euro-BOBL | 3/07/24 | 10 | $ | 1,299,142 | $ | 17,650 | ||||||||
| Euro-OAT | 3/07/24 | 17 | 2,395,833 | 72,235 | ||||||||||
| U.S. Treasury Long Bond | 3/19/24 | 227 | 26,241,883 | 2,118,930 | ||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 86 | 9,722,872 | 426,472 | ||||||||||
| U.S. Treasury Ultra Bond | 3/19/24 | 163 | 19,827,171 | 1,948,610 | ||||||||||
| UK Long Gilt | 3/26/24 | 16 | 1,976,029 | 117,456 | ||||||||||
| U.S. Treasury Note 5 Year | 3/28/24 | 1,433 | 152,730,450 | 3,141,887 | ||||||||||
| 3 Month SOFR | 3/18/25 | 82 | 19,616,069 | 119,281 | ||||||||||
| 3 Month SOFR | 3/17/26 | 190 | 45,665,594 | 378,531 | ||||||||||
| $ | 8,341,052 | |||||||||||||
| Short | ||||||||||||||
| Euro-Bund | 3/07/24 | 21 | $ | (3,091,419) | $ | (89,746) | ||||||||
| Euro-Buxl 30 Year Bond | 3/07/24 | 2 | (288,835) | (24,069) | ||||||||||
| Japanese 10 Year Bond | 3/13/24 | 4 | (4,124,233) | (37,753) | ||||||||||
| 3 Month SOFR | 3/19/24 | 157 | (37,417,932) | 270,751 | ||||||||||
| U.S. Treasury Note 10 Year | 3/19/24 | 443 | (48,509,913) | (1,500,634) | ||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 9 | (1,017,844) | (44,297) | ||||||||||
| U.S. Treasury Note 2 Year | 3/28/24 | 244 | (49,718,859) | (524,172) | ||||||||||
| 3 Month SOFR | 6/18/24 | 18 | (4,255,806) | (19,869) | ||||||||||
| $ | (1,969,789) | |||||||||||||
| Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
| CDX.NA.HY Series 41† | 5.000% | Quarterly | 12/20/28 | USD | 1,516,779 | $ | (88,469) | $ | (10,135) | $ | (78,334) | |||||||||||||||||||||
| Centrally Cleared Credit Default Swaps - Sell Protection†† | ||||||||||||||||||||||||||||||||
| Reference Obligation/ Index | Rate Received by Fund | Payment Frequency | Termination Date | Credit Rating | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| CDX.NA.IG Series 41† | 1.000% | Quarterly | 12/20/28 | BBB* | USD | 54,471,900 | $ | 1,058,552 | $ | 719,454 | $ | 339,098 | ||||||||||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 28 Day-MXNTIIE-Banxico | Monthly | Fixed 7.450% | Monthly | 7/18/29 | MXN | 88,370,000 | $ | (242,412) | $ | 37,242 | $ | (279,654) | ||||||||||||||||||||
| Fixed 5.410% | Maturity | FedFunds | Maturity | 1/31/24 | USD | 60,470,000 | (3,254) | — | (3,254) | |||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 4.100% | Annually | 3/10/26 | USD | 20,642,000 | 105,498 | 249,051 | (143,553) | |||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 3.950% | Annually | 5/31/28 | USD | 1,763,000 | 32,113 | 4,925 | 27,188 | |||||||||||||||||||||||
| Fixed 3.400% | Annually | 12-Month USD SOFR | Annually | 3/10/34 | USD | 4,603,000 | 2,670 | (77,564) | 80,234 | |||||||||||||||||||||||
| Fixed 1.520% | Annually | 12-Month USD SOFR | Annually | 2/15/47 | USD | 1,137,000 | 341,664 | (29,927) | 371,591 | |||||||||||||||||||||||
| Fixed 3.050% | Annually | 12-Month USD SOFR | Annually | 2/15/48 | USD | 2,381,000 | 134,404 | 94,235 | 40,169 | |||||||||||||||||||||||
| Fixed 2.600% | Annually | 12-Month USD SOFR | Annually | 2/15/48 | USD | 1,787,000 | 232,064 | 145,503 | 86,561 | |||||||||||||||||||||||
| Fixed 3.150% | Annually | 12-Month USD SOFR | Annually | 5/15/48 | USD | 5,670,000 | 225,589 | (534,524) | 760,113 | |||||||||||||||||||||||
| $ | 828,336 | $ | (111,059) | $ | 939,395 | |||||||||||||||||||||||||||
| OTC Interest Rate Swaps | |||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | ||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Counterparty | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
| BRL-CDI | Maturity | Fixed 10.238% | Maturity | Citigroup Global Markets, Inc. | 1/02/29 | BRL | 19,660,000 | $ | 17,081 | $ | — | $ | 17,081 | ||||||||||||||
| * | Rating is determined by Western Asset Management Company and represents a weighted average of the ratings of all securities included in the underlying index for the credit default swap. Ratings used in the weighted average are from Moody's Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, whichever is the highest for each constituent. All ratings are as of the report date and do not reflect subsequent changes. |
| † | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
| †† | For each credit derivative with sold protection, the credit ratings of the entities referenced, as rated by any rating organization, are included in the equivalent S&P Global Ratings or Western Asset Management Company's rating category, as applicable. The reference entity rating represents the likelihood of a potential payment by the Fund if the referenced entity experiences a credit event as of period end. Notional amounts represent the maximum potential amount of future payments (undiscounted) the Fund could be required to make under the credit derivatives with sold protection. |
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNH | Offshore Chinese Yuan |
| EUR | Euro |
| GBP | British Pound |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| USD | U.S. Dollar |
| ZAR | South African Rand |
| MassMutual Diversified Value Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.2% | ||||||||
| COMMON STOCK — 97.6% | ||||||||
| Basic Materials — 3.1% | ||||||||
| Chemicals — 1.6% | ||||||||
| CF Industries Holdings, Inc. | 40,172 | $ | 3,193,674 | |||||
| Dow, Inc. | 13,100 | 718,404 | ||||||
| Eastman Chemical Co. | 2,300 | 206,586 | ||||||
| LyondellBasell Industries NV Class A | 6,300 | 599,004 | ||||||
| Olin Corp. | 2,600 | 140,270 | ||||||
| 4,857,938 | ||||||||
| Forest Products & Paper — 0.6% | ||||||||
| International Paper Co. | 47,725 | 1,725,259 | ||||||
| Iron & Steel — 0.9% | ||||||||
| Cleveland-Cliffs, Inc. (a) | 9,200 | 187,864 | ||||||
| Commercial Metals Co. | 1,000 | 50,040 | ||||||
| Nucor Corp. | 7,100 | 1,235,684 | ||||||
| Reliance Steel & Aluminum Co. | 1,400 | 391,552 | ||||||
| Steel Dynamics, Inc. | 5,000 | 590,500 | ||||||
| U.S. Steel Corp. | 4,400 | 214,060 | ||||||
| 2,669,700 | ||||||||
| 9,252,897 | ||||||||
| Communications — 6.7% | ||||||||
| Advertising — 0.2% | ||||||||
| Interpublic Group of Cos., Inc. | 7,500 | 244,800 | ||||||
| Omnicom Group, Inc. | 5,100 | 441,201 | ||||||
| 686,001 | ||||||||
| Internet — 0.2% | ||||||||
| eBay, Inc. | 9,700 | 423,114 | ||||||
| Gen Digital, Inc. | 7,400 | 168,868 | ||||||
| Robinhood Markets, Inc. Class A (a) | 7,600 | 96,824 | ||||||
| 688,806 | ||||||||
| Media — 3.3% | ||||||||
| Charter Communications, Inc. Class A (a) | 1,700 | 660,756 | ||||||
| Comcast Corp. Class A | 84,700 | 3,714,095 | ||||||
| Fox Corp. Class A | 8,000 | 237,360 | ||||||
| News Corp. Class A | 125,192 | 3,073,464 | ||||||
| News Corp. Class B | 33,118 | 851,795 | ||||||
| Walt Disney Co. | 15,718 | 1,419,178 | ||||||
| 9,956,648 | ||||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Telecommunications — 3.0% | ||||||||
| AT&T, Inc. | 74,100 | $ | 1,243,398 | |||||
| Cisco Systems, Inc. | 79,600 | 4,021,392 | ||||||
| Corning, Inc. | 16,400 | 499,380 | ||||||
| Juniper Networks, Inc. | 5,800 | 170,984 | ||||||
| Verizon Communications, Inc. | 75,900 | 2,861,430 | ||||||
| 8,796,584 | ||||||||
| 20,128,039 | ||||||||
| Consumer, Cyclical — 5.4% | ||||||||
| Airlines — 0.1% | ||||||||
| Delta Air Lines, Inc. | 7,400 | 297,702 | ||||||
| Apparel — 0.1% | ||||||||
| Levi Strauss & Co. Class A (b) | 1,800 | 29,772 | ||||||
| Ralph Lauren Corp. | 900 | 129,780 | ||||||
| Skechers USA, Inc. Class A (a) | 2,500 | 155,850 | ||||||
| 315,402 | ||||||||
| Auto Manufacturers — 1.3% | ||||||||
| Cummins, Inc. | 2,800 | 670,796 | ||||||
| Ford Motor Co. | 92,600 | 1,128,794 | ||||||
| General Motors Co. | 27,600 | 991,392 | ||||||
| PACCAR, Inc. | 10,100 | 986,265 | ||||||
| 3,777,247 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Lear Corp. | 1,100 | 155,331 | ||||||
| Distribution & Wholesale — 0.2% | ||||||||
| Ferguson PLC | 3,700 | 714,359 | ||||||
| Home Builders — 1.1% | ||||||||
| DR Horton, Inc. | 8,600 | 1,307,028 | ||||||
| Lennar Corp. Class A | 6,500 | 968,760 | ||||||
| NVR, Inc. (a) | 40 | 280,018 | ||||||
| PulteGroup, Inc. | 6,300 | 650,286 | ||||||
| Toll Brothers, Inc. | 1,100 | 113,069 | ||||||
| 3,319,161 | ||||||||
| Leisure Time — 0.1% | ||||||||
| Brunswick Corp. | 1,800 | 174,150 | ||||||
| Lodging — 0.6% | ||||||||
| Boyd Gaming Corp. | 2,000 | 125,220 | ||||||
| Las Vegas Sands Corp. | 33,183 | 1,632,935 | ||||||
| 1,758,155 | ||||||||
| Retail — 1.8% | ||||||||
| AutoNation, Inc. (a) | 1,900 | 285,342 | ||||||
| Best Buy Co., Inc. | 4,300 | 336,604 | ||||||
| BJ's Wholesale Club Holdings, Inc. (a) | 1,400 | 93,324 | ||||||
| Dick's Sporting Goods, Inc. | 700 | 102,865 | ||||||
| Lithia Motors, Inc. | 500 | 164,640 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Lowe's Cos., Inc. | 17,400 | $ | 3,872,370 | |||||
| Murphy USA, Inc. | 400 | 142,624 | ||||||
| Penske Automotive Group, Inc. | 1,400 | 224,714 | ||||||
| Williams-Sonoma, Inc. | 1,300 | 262,314 | ||||||
| 5,484,797 | ||||||||
| Toys, Games & Hobbies — 0.0% | ||||||||
| Mattel, Inc. (a) | 3,700 | 69,856 | ||||||
| 16,066,160 | ||||||||
| Consumer, Non-cyclical — 22.7% | ||||||||
| Agriculture — 2.6% | ||||||||
| Altria Group, Inc. | 34,100 | 1,375,594 | ||||||
| Archer-Daniels-Midland Co. | 13,100 | 946,082 | ||||||
| Bunge Global SA | 1,900 | 191,805 | ||||||
| Philip Morris International, Inc. | 56,477 | 5,313,356 | ||||||
| 7,826,837 | ||||||||
| Beverages — 0.1% | ||||||||
| Coca-Cola Consolidated, Inc. | 100 | 92,840 | ||||||
| Molson Coors Beverage Co. Class B | 3,900 | 238,719 | ||||||
| 331,559 | ||||||||
| Biotechnology — 1.9% | ||||||||
| Amgen, Inc. | 10,300 | 2,966,606 | ||||||
| Biogen, Inc. (a) | 2,700 | 698,679 | ||||||
| Gilead Sciences, Inc. | 24,300 | 1,968,543 | ||||||
| 5,633,828 | ||||||||
| Commercial Services — 0.8% | ||||||||
| Avis Budget Group, Inc. | 700 | 124,082 | ||||||
| Global Payments, Inc. | 4,800 | 609,600 | ||||||
| H&R Block, Inc. | 1,500 | 72,555 | ||||||
| Robert Half, Inc. | 1,900 | 167,048 | ||||||
| Service Corp. International | 4,100 | 280,645 | ||||||
| U-Haul Holding Co. (UHAL US) (a) (b) | 400 | 28,720 | ||||||
| U-Haul Holding Co. (UHAL/B US) | 3,700 | 260,628 | ||||||
| United Rentals, Inc. | 1,300 | 745,446 | ||||||
| 2,288,724 | ||||||||
| Cosmetics & Personal Care — 0.5% | ||||||||
| Kenvue, Inc. | 68,215 | 1,468,669 | ||||||
| Food — 1.3% | ||||||||
| Conagra Brands, Inc. | 62,534 | 1,792,224 | ||||||
| Ingredion, Inc. | 1,300 | 141,089 | ||||||
| Kraft Heinz Co. | 23,700 | 876,426 | ||||||
| Kroger Co. | 13,600 | 621,656 | ||||||
| Sysco Corp. | 5,800 | 424,154 | ||||||
| 3,855,549 | ||||||||
| Health Care – Products — 1.1% | ||||||||
| Medtronic PLC | 15,400 | 1,268,652 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Zimmer Biomet Holdings, Inc. | 17,635 | $ | 2,146,180 | |||||
| 3,414,832 | ||||||||
| Health Care – Services — 4.0% | ||||||||
| Centene Corp. (a) | 6,100 | 452,681 | ||||||
| DaVita, Inc. (a) | 1,700 | 178,092 | ||||||
| Elevance Health, Inc. | 16,414 | 7,740,186 | ||||||
| HCA Healthcare, Inc. | 7,900 | 2,138,372 | ||||||
| Laboratory Corp. of America Holdings | 2,300 | 522,767 | ||||||
| Molina Healthcare, Inc. (a) | 700 | 252,917 | ||||||
| Quest Diagnostics, Inc. | 3,300 | 455,004 | ||||||
| Tenet Healthcare Corp. (a) | 1,600 | 120,912 | ||||||
| Universal Health Services, Inc. Class B | 1,800 | 274,392 | ||||||
| 12,135,323 | ||||||||
| Household Products & Wares — 0.6% | ||||||||
| Kimberly-Clark Corp. | 15,069 | 1,831,034 | ||||||
| Pharmaceuticals — 9.8% | ||||||||
| AbbVie, Inc. | 39,802 | 6,168,116 | ||||||
| Becton Dickinson & Co. | 13,138 | 3,203,439 | ||||||
| Cardinal Health, Inc. | 5,100 | 514,080 | ||||||
| Cencora, Inc. | 4,900 | 1,006,362 | ||||||
| Cigna Group | 6,400 | 1,916,480 | ||||||
| CVS Health Corp. | 14,900 | 1,176,504 | ||||||
| Henry Schein, Inc. (a) | 2,600 | 196,846 | ||||||
| Johnson & Johnson | 36,126 | 5,662,389 | ||||||
| McKesson Corp. | 3,900 | 1,805,622 | ||||||
| Merck & Co., Inc. | 42,700 | 4,655,154 | ||||||
| Sanofi SA ADR | 33,940 | 1,687,836 | ||||||
| Viatris, Inc. | 127,699 | 1,382,980 | ||||||
| 29,375,808 | ||||||||
| 68,162,163 | ||||||||
| Energy — 11.5% | ||||||||
| Oil & Gas — 10.6% | ||||||||
| Antero Resources Corp. (a) | 3,200 | 72,576 | ||||||
| APA Corp. | 6,300 | 226,044 | ||||||
| Chevron Corp. | 33,927 | 5,060,551 | ||||||
| Chord Energy Corp. | 500 | 83,115 | ||||||
| ConocoPhillips | 33,670 | 3,908,077 | ||||||
| Coterra Energy, Inc. | 13,700 | 349,624 | ||||||
| EOG Resources, Inc. | 30,626 | 3,704,215 | ||||||
| Exxon Mobil Corp. | 73,800 | 7,378,524 | ||||||
| Marathon Oil Corp. | 13,400 | 323,744 | ||||||
| Marathon Petroleum Corp. | 7,200 | 1,068,192 | ||||||
| Murphy Oil Corp. | 1,600 | 68,256 | ||||||
| Occidental Petroleum Corp. | 17,500 | 1,044,925 | ||||||
| Phillips 66 | 8,100 | 1,078,434 | ||||||
| Range Resources Corp. | 4,400 | 133,936 | ||||||
| Southwestern Energy Co. (a) | 20,000 | 131,000 | ||||||
| TotalEnergies SE | 69,904 | 4,748,471 | ||||||
| TotalEnergies SE Sponsored ADR (b) | 19,390 | 1,306,498 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Valero Energy Corp. | 7,500 | $ | 975,000 | |||||
| 31,661,182 | ||||||||
| Oil & Gas Services — 0.2% | ||||||||
| Halliburton Co. | 16,400 | 592,860 | ||||||
| Nov, Inc. | 4,600 | 93,288 | ||||||
| 686,148 | ||||||||
| Pipelines — 0.7% | ||||||||
| Cheniere Energy, Inc. | 4,400 | 751,124 | ||||||
| Kinder Morgan, Inc. | 43,600 | 769,104 | ||||||
| New Fortress Energy, Inc. | 2,400 | 90,552 | ||||||
| Williams Cos., Inc. | 14,100 | 491,103 | ||||||
| 2,101,883 | ||||||||
| 34,449,213 | ||||||||
| Financial — 24.0% | ||||||||
| Banks — 11.9% | ||||||||
| Bank of America Corp. | 91,100 | 3,067,337 | ||||||
| Bank of New York Mellon Corp. | 16,400 | 853,620 | ||||||
| Citigroup, Inc. | 34,900 | 1,795,256 | ||||||
| Citizens Financial Group, Inc. | 5,400 | 178,956 | ||||||
| Cullen/Frost Bankers, Inc. | 700 | 75,943 | ||||||
| Fifth Third Bancorp | 111,113 | 3,832,287 | ||||||
| Goldman Sachs Group, Inc. | 6,500 | 2,507,505 | ||||||
| Huntington Bancshares, Inc. | 16,800 | 213,696 | ||||||
| JP Morgan Chase & Co. | 56,900 | 9,678,690 | ||||||
| KeyCorp. | 10,800 | 155,520 | ||||||
| M&T Bank Corp. | 1,900 | 260,452 | ||||||
| Morgan Stanley | 32,800 | 3,058,600 | ||||||
| Northern Trust Corp. | 2,400 | 202,512 | ||||||
| PNC Financial Services Group, Inc. | 4,600 | 712,310 | ||||||
| State Street Corp. | 6,600 | 511,236 | ||||||
| US Bancorp | 77,215 | 3,341,865 | ||||||
| Webster Financial Corp. | 2,100 | 106,596 | ||||||
| Wells Fargo & Co. | 101,036 | 4,972,992 | ||||||
| 35,525,373 | ||||||||
| Diversified Financial Services — 3.1% | ||||||||
| Ally Financial, Inc. | 5,500 | 192,060 | ||||||
| American Express Co. | 14,300 | 2,678,962 | ||||||
| Ameriprise Financial, Inc. | 2,100 | 797,643 | ||||||
| Capital One Financial Corp. | 6,900 | 904,728 | ||||||
| Charles Schwab Corp. | 35,137 | 2,417,426 | ||||||
| Discover Financial Services | 5,500 | 618,200 | ||||||
| LPL Financial Holdings, Inc. | 1,400 | 318,668 | ||||||
| Raymond James Financial, Inc. | 3,800 | 423,700 | ||||||
| SEI Investments Co. | 1,200 | 76,260 | ||||||
| Stifel Financial Corp. | 1,900 | 131,385 | ||||||
| Synchrony Financial | 8,500 | 324,615 | ||||||
| T. Rowe Price Group, Inc. | 4,200 | 452,298 | ||||||
| 9,335,945 | ||||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Insurance — 7.3% | ||||||||
| Aflac, Inc. | 13,000 | $ | 1,072,500 | |||||
| American Financial Group, Inc. | 1,400 | 166,446 | ||||||
| American International Group, Inc. | 63,358 | 4,292,505 | ||||||
| Arch Capital Group Ltd. (a) | 7,400 | 549,598 | ||||||
| Assurant, Inc. | 1,000 | 168,490 | ||||||
| Chubb Ltd. | 26,461 | 5,980,186 | ||||||
| Cincinnati Financial Corp. | 3,100 | 320,726 | ||||||
| Equitable Holdings, Inc. | 74,768 | 2,489,774 | ||||||
| Fidelity National Financial, Inc. | 5,300 | 270,406 | ||||||
| First American Financial Corp. | 1,900 | 122,436 | ||||||
| Globe Life, Inc. | 1,700 | 206,924 | ||||||
| Hartford Financial Services Group, Inc. | 6,500 | 522,470 | ||||||
| Loews Corp. | 5,000 | 347,950 | ||||||
| Markel Group, Inc. (a) | 230 | 326,577 | ||||||
| MetLife, Inc. | 16,700 | 1,104,371 | ||||||
| Old Republic International Corp. | 5,700 | 167,580 | ||||||
| Primerica, Inc. | 600 | 123,456 | ||||||
| Principal Financial Group, Inc. | 5,100 | 401,217 | ||||||
| Prudential Financial, Inc. | 7,200 | 746,712 | ||||||
| Reinsurance Group of America, Inc. | 1,200 | 194,136 | ||||||
| Travelers Cos., Inc. | 8,400 | 1,600,116 | ||||||
| Unum Group | 3,900 | 176,358 | ||||||
| W. R. Berkley Corp. | 5,100 | 360,672 | ||||||
| Willis Towers Watson PLC | 1,200 | 289,440 | ||||||
| 22,001,046 | ||||||||
| Private Equity — 0.1% | ||||||||
| Carlyle Group, Inc. | 6,500 | 264,485 | ||||||
| Real Estate — 0.0% | ||||||||
| Jones Lang LaSalle, Inc. (a) | 500 | 94,435 | ||||||
| Real Estate Investment Trusts (REITS) — 1.6% | ||||||||
| Equity Residential | 38,055 | 2,327,444 | ||||||
| Weyerhaeuser Co. | 69,689 | 2,423,086 | ||||||
| 4,750,530 | ||||||||
| 71,971,814 | ||||||||
| Industrial — 11.4% | ||||||||
| Aerospace & Defense — 3.0% | ||||||||
| Boeing Co. (a) | 11,048 | 2,879,772 | ||||||
| L3 Harris Technologies, Inc. | 18,543 | 3,905,526 | ||||||
| Lockheed Martin Corp. | 4,600 | 2,084,904 | ||||||
| 8,870,202 | ||||||||
| Building Materials — 0.8% | ||||||||
| Builders FirstSource, Inc. (a) | 2,900 | 484,126 | ||||||
| Eagle Materials, Inc. | 700 | 141,988 | ||||||
| Fortune Brands Innovations, Inc. | 2,600 | 197,964 | ||||||
| Johnson Controls International PLC | 12,400 | 714,736 | ||||||
| Masco Corp. | 6,100 | 408,578 | ||||||
| Owens Corning | 2,600 | 385,398 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| UFP Industries, Inc. | 700 | $ | 87,885 | |||||
| 2,420,675 | ||||||||
| Electronics — 0.4% | ||||||||
| Allegion PLC | 1,600 | 202,704 | ||||||
| Arrow Electronics, Inc. (a) | 1,800 | 220,050 | ||||||
| Jabil, Inc. | 3,500 | 445,900 | ||||||
| TD SYNNEX Corp. | 1,800 | 193,698 | ||||||
| 1,062,352 | ||||||||
| Engineering & Construction — 0.0% | ||||||||
| TopBuild Corp. (a) | 400 | 149,704 | ||||||
| Environmental Controls — 0.1% | ||||||||
| Pentair PLC | 3,200 | 232,672 | ||||||
| Hand & Machine Tools — 1.0% | ||||||||
| Regal Rexnord Corp. | 800 | 118,416 | ||||||
| Snap-on, Inc. | 1,100 | 317,724 | ||||||
| Stanley Black & Decker, Inc. | 26,981 | 2,646,836 | ||||||
| 3,082,976 | ||||||||
| Machinery – Construction & Mining — 0.9% | ||||||||
| Caterpillar, Inc. | 9,200 | 2,720,164 | ||||||
| Oshkosh Corp. | 1,200 | 130,092 | ||||||
| 2,850,256 | ||||||||
| Machinery – Diversified — 1.0% | ||||||||
| AGCO Corp. | 1,400 | 169,974 | ||||||
| Deere & Co. | 5,400 | 2,159,298 | ||||||
| Dover Corp. | 2,600 | 399,906 | ||||||
| Middleby Corp. (a) | 1,000 | 147,170 | ||||||
| 2,876,348 | ||||||||
| Metal Fabricate & Hardware — 0.0% | ||||||||
| Timken Co. | 1,100 | 88,165 | ||||||
| Miscellaneous - Manufacturing — 1.8% | ||||||||
| Carlisle Cos., Inc. | 900 | 281,187 | ||||||
| General Electric Co. | 27,607 | 3,523,482 | ||||||
| Parker-Hannifin Corp. | 2,500 | 1,151,750 | ||||||
| Textron, Inc. | 5,400 | 434,268 | ||||||
| 5,390,687 | ||||||||
| Packaging & Containers — 0.3% | ||||||||
| Berry Global Group, Inc. | 2,300 | 154,997 | ||||||
| Crown Holdings, Inc. | 3,300 | 303,897 | ||||||
| Graphic Packaging Holding Co. | 5,900 | 145,435 | ||||||
| Packaging Corp. of America | 2,200 | 358,402 | ||||||
| Sonoco Products Co. | 1,700 | 94,979 | ||||||
| 1,057,710 | ||||||||
| Shipbuilding — 0.1% | ||||||||
| Huntington Ingalls Industries, Inc. | 800 | 207,712 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Transportation — 2.0% | ||||||||
| CSX Corp. | 36,400 | $ | 1,261,988 | |||||
| FedEx Corp. | 5,000 | 1,264,850 | ||||||
| Knight-Swift Transportation Holdings, Inc. | 3,100 | 178,715 | ||||||
| Norfolk Southern Corp. | 13,700 | 3,238,406 | ||||||
| 5,943,959 | ||||||||
| 34,233,418 | ||||||||
| Technology — 8.8% | ||||||||
| Computers — 2.0% | ||||||||
| CACI International, Inc. Class A (a) | 300 | 97,158 | ||||||
| Cognizant Technology Solutions Corp. Class A | 9,100 | 687,323 | ||||||
| Dell Technologies, Inc. Class C | 4,700 | 359,550 | ||||||
| Hewlett Packard Enterprise Co. | 30,800 | 522,984 | ||||||
| HP, Inc. | 30,500 | 917,745 | ||||||
| International Business Machines Corp. | 15,600 | 2,551,380 | ||||||
| Leidos Holdings, Inc. | 2,700 | 292,248 | ||||||
| NetApp, Inc. | 3,900 | 343,824 | ||||||
| Science Applications International Corp. | 500 | 62,160 | ||||||
| 5,834,372 | ||||||||
| Semiconductors — 5.3% | ||||||||
| Applied Materials, Inc. | 16,400 | 2,657,948 | ||||||
| Microchip Technology, Inc. | 6,200 | 559,116 | ||||||
| Micron Technology, Inc. | 21,100 | 1,800,674 | ||||||
| ON Semiconductor Corp. (a) | 6,800 | 568,004 | ||||||
| QUALCOMM, Inc. | 57,170 | 8,268,497 | ||||||
| Samsung Electronics Co. Ltd. | 27,845 | 1,693,531 | ||||||
| Skyworks Solutions, Inc. | 3,200 | 359,744 | ||||||
| 15,907,514 | ||||||||
| Software — 1.5% | ||||||||
| Fiserv, Inc. (a) | 9,900 | 1,315,116 | ||||||
| Microsoft Corp. | 8,170 | 3,072,247 | ||||||
| Twilio, Inc. Class A (a) | 2,100 | 159,327 | ||||||
| 4,546,690 | ||||||||
| 26,288,576 | ||||||||
| Utilities — 4.0% | ||||||||
| Electric — 4.0% | ||||||||
| Alliant Energy Corp. | 4,600 | 235,980 | ||||||
| CenterPoint Energy, Inc. | 8,000 | 228,560 | ||||||
| Consolidated Edison, Inc. | 6,200 | 564,014 | ||||||
| Dominion Energy, Inc. | 50,644 | 2,380,268 | ||||||
| Duke Energy Corp. | 14,500 | 1,407,080 | ||||||
| Edison International | 6,500 | 464,685 | ||||||
| OGE Energy Corp. | 3,800 | 132,734 | ||||||
| Pinnacle West Capital Corp. | 2,300 | 165,232 | ||||||
| PPL Corp. | 14,300 | 387,530 | ||||||
| Public Service Enterprise Group, Inc. | 12,300 | 752,145 | ||||||
| Sempra | 12,100 | 904,233 | ||||||
| Southern Co. | 59,940 | 4,202,993 | ||||||
| MassMutual Diversified Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Vistra Corp. | 8,200 | $ | 315,864 | |||||
| 12,141,318 | ||||||||
| TOTAL COMMON STOCK (Cost $235,995,790) | 292,693,598 | |||||||
| PREFERRED STOCK — 0.6% | ||||||||
| Consumer, Cyclical — 0.6% | ||||||||
| Auto Manufacturers — 0.6% | ||||||||
| Dr Ing hc F Porsche AG 1.262% (c) | 12,216 | 1,077,282 | ||||||
| Volkswagen AG 7.837% | 6,846 | 845,051 | ||||||
| 1,922,333 | ||||||||
| TOTAL PREFERRED STOCK (Cost $2,256,858) | 1,922,333 | |||||||
| TOTAL EQUITIES (Cost $238,252,648) | 294,615,931 | |||||||
| MUTUAL FUNDS — 0.8% | ||||||||
| Diversified Financial Services — 0.8% | ||||||||
| iShares Russell 1000 Value ETF | 14,630 | 2,417,607 | ||||||
| TOTAL MUTUAL FUNDS (Cost $2,363,927) | 2,417,607 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $240,616,575) | 297,033,538 | |||||||
| SHORT-TERM INVESTMENTS — 0.9% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (d) | 214,569 | 214,569 | ||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 111 | 111 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.8% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (e) | $ | 2,332,474 | 2,332,474 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,547,154) | 2,547,154 | |||||||
| TOTAL INVESTMENTS — 99.9% (Cost $243,163,729) (f) | 299,580,692 | |||||||
| Other Assets/(Liabilities) — 0.1% | 203,779 | |||||||
| NET ASSETS — 100.0% | $ | 299,784,471 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
| ETF | Exchange-Traded Fund |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $1,344,321 or 0.45% of net assets. The Fund received $1,164,239 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (c) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $1,077,282 or 0.36% of net assets. |
| (d) | Represents investment of security lending cash collateral. (Note 2). |
| (e) | Maturity value of $2,332,889. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $2,379,211. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Fundamental Value Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 99.0% | ||||||||
| COMMON STOCK — 99.0% | ||||||||
| Basic Materials — 3.8% | ||||||||
| Chemicals — 3.8% | ||||||||
| Air Products & Chemicals, Inc. | 18,783 | $ | 5,142,785 | |||||
| Axalta Coating Systems Ltd. (a) | 61,057 | 2,074,106 | ||||||
| DuPont de Nemours, Inc. | 61,201 | 4,708,193 | ||||||
| Element Solutions, Inc. | 74,284 | 1,718,932 | ||||||
| International Flavors & Fragrances, Inc. | 24,500 | 1,983,765 | ||||||
| Olin Corp. | 16,243 | 876,310 | ||||||
| 16,504,091 | ||||||||
| Communications — 5.6% | ||||||||
| Advertising — 0.5% | ||||||||
| Omnicom Group, Inc. | 23,345 | 2,019,576 | ||||||
| Internet — 2.4% | ||||||||
| Alphabet, Inc. Class A (a) | 47,892 | 6,690,034 | ||||||
| Alphabet, Inc. Class C (a) | 14,819 | 2,088,442 | ||||||
| Booking Holdings, Inc. (a) | 534 | 1,894,215 | ||||||
| 10,672,691 | ||||||||
| Media — 1.4% | ||||||||
| Comcast Corp. Class A | 107,406 | 4,709,753 | ||||||
| Warner Bros Discovery, Inc. (a) | 118,511 | 1,348,655 | ||||||
| 6,058,408 | ||||||||
| Telecommunications — 1.3% | ||||||||
| Nice Ltd. Sponsored ADR (a) (b) | 4,709 | 939,493 | ||||||
| T-Mobile US, Inc. | 28,804 | 4,618,145 | ||||||
| 5,557,638 | ||||||||
| 24,308,313 | ||||||||
| Consumer, Cyclical — 5.7% | ||||||||
| Auto Parts & Equipment — 0.5% | ||||||||
| Aptiv PLC (a) | 15,299 | 1,372,626 | ||||||
| BorgWarner, Inc. | 18,264 | 654,765 | ||||||
| 2,027,391 | ||||||||
| Distribution & Wholesale — 0.6% | ||||||||
| LKQ Corp. | 13,664 | 653,003 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| WESCO International, Inc. | 11,879 | $ | 2,065,520 | |||||
| 2,718,523 | ||||||||
| Entertainment — 0.1% | ||||||||
| SeaWorld Entertainment, Inc. (a) | 8,758 | 462,685 | ||||||
| Food Services — 0.4% | ||||||||
| Aramark | 59,847 | 1,681,701 | ||||||
| Home Furnishing — 0.4% | ||||||||
| SharkNinja, Inc. | 24,040 | 1,230,127 | ||||||
| Whirlpool Corp. | 4,907 | 597,525 | ||||||
| 1,827,652 | ||||||||
| Lodging — 1.3% | ||||||||
| Las Vegas Sands Corp. | 41,228 | 2,028,830 | ||||||
| MGM Resorts International | 39,944 | 1,784,698 | ||||||
| Wynn Resorts Ltd. | 19,078 | 1,738,196 | ||||||
| 5,551,724 | ||||||||
| Retail — 2.4% | ||||||||
| AutoNation, Inc. (a) | 6,621 | 994,342 | ||||||
| AutoZone, Inc. (a) | 1,338 | 3,459,546 | ||||||
| Lithia Motors, Inc. | 4,067 | 1,339,182 | ||||||
| Ulta Beauty, Inc. (a) | 2,503 | 1,226,445 | ||||||
| Walmart, Inc. | 22,013 | 3,470,349 | ||||||
| 10,489,864 | ||||||||
| 24,759,540 | ||||||||
| Consumer, Non-cyclical — 25.3% | ||||||||
| Agriculture — 2.3% | ||||||||
| Philip Morris International, Inc. | 105,454 | 9,921,112 | ||||||
| Beverages — 2.4% | ||||||||
| Coca-Cola Europacific Partners PLC | 76,680 | 5,117,623 | ||||||
| Keurig Dr Pepper, Inc. | 121,591 | 4,051,412 | ||||||
| Molson Coors Beverage Co. Class B | 22,745 | 1,392,222 | ||||||
| 10,561,257 | ||||||||
| Biotechnology — 0.6% | ||||||||
| Amgen, Inc. | 9,017 | 2,597,076 | ||||||
| Commercial Services — 2.9% | ||||||||
| FleetCor Technologies, Inc. (a) | 9,104 | 2,572,881 | ||||||
| Global Payments, Inc. | 22,606 | 2,870,962 | ||||||
| U-Haul Holding Co. | 20,552 | 1,447,683 | ||||||
| United Rentals, Inc. | 6,166 | 3,535,708 | ||||||
| Vestis Corp. | 53,093 | 1,122,386 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 25,560 | 1,137,420 | ||||||
| 12,687,040 | ||||||||
| Cosmetics & Personal Care — 0.9% | ||||||||
| Kenvue, Inc. | 90,985 | 1,958,907 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Procter & Gamble Co. | 12,768 | $ | 1,871,023 | |||||
| 3,829,930 | ||||||||
| Food — 1.2% | ||||||||
| Kraft Heinz Co. | 34,510 | 1,276,180 | ||||||
| Tyson Foods, Inc. Class A | 26,037 | 1,399,489 | ||||||
| U.S. Foods Holding Corp. (a) | 53,369 | 2,423,486 | ||||||
| 5,099,155 | ||||||||
| Health Care – Products — 3.4% | ||||||||
| Abbott Laboratories | 28,383 | 3,124,117 | ||||||
| Avantor, Inc. (a) | 175,877 | 4,015,272 | ||||||
| LivaNova PLC (a) | 16,687 | 863,385 | ||||||
| Medtronic PLC | 54,471 | 4,487,321 | ||||||
| Smith & Nephew PLC Sponsored ADR (b) | 82,466 | 2,249,673 | ||||||
| 14,739,768 | ||||||||
| Health Care – Services — 4.5% | ||||||||
| Centene Corp. (a) | 35,102 | 2,604,919 | ||||||
| Elevance Health, Inc. | 3,354 | 1,581,612 | ||||||
| Humana, Inc. | 9,346 | 4,278,692 | ||||||
| ICON PLC (a) | 10,192 | 2,885,050 | ||||||
| UnitedHealth Group, Inc. | 15,449 | 8,133,435 | ||||||
| 19,483,708 | ||||||||
| Pharmaceuticals — 7.1% | ||||||||
| Bristol-Myers Squibb Co. | 79,574 | 4,082,942 | ||||||
| Cencora, Inc. | 14,478 | 2,973,492 | ||||||
| Cigna Group | 17,618 | 5,275,710 | ||||||
| CVS Health Corp. | 51,183 | 4,041,410 | ||||||
| Johnson & Johnson | 16,900 | 2,648,906 | ||||||
| McKesson Corp. | 4,986 | 2,308,418 | ||||||
| Merck & Co., Inc. | 50,673 | 5,524,371 | ||||||
| Sanofi SA ADR | 79,280 | 3,942,594 | ||||||
| 30,797,843 | ||||||||
| 109,716,889 | ||||||||
| Energy — 10.0% | ||||||||
| Coal — 0.5% | ||||||||
| Peabody Energy Corp. | 40,982 | 996,682 | ||||||
| Teck Resources Ltd. Class B | 34,304 | 1,450,030 | ||||||
| 2,446,712 | ||||||||
| Oil & Gas — 6.6% | ||||||||
| BP PLC Sponsored ADR | 57,363 | 2,030,650 | ||||||
| Canadian Natural Resources Ltd. | 39,192 | 2,567,860 | ||||||
| Cenovus Energy, Inc. | 155,653 | 2,591,623 | ||||||
| ConocoPhillips | 27,494 | 3,191,229 | ||||||
| Hess Corp. | 37,726 | 5,438,580 | ||||||
| Marathon Petroleum Corp. | 20,715 | 3,073,277 | ||||||
| Phillips 66 | 57,043 | 7,594,705 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Pioneer Natural Resources Co. | 9,066 | $ | 2,038,762 | |||||
| 28,526,686 | ||||||||
| Oil & Gas Services — 1.3% | ||||||||
| Halliburton Co. | 89,026 | 3,218,290 | ||||||
| Schlumberger NV | 46,233 | 2,405,965 | ||||||
| 5,624,255 | ||||||||
| Pipelines — 1.6% | ||||||||
| Enbridge, Inc. | 115,594 | 4,163,696 | ||||||
| Plains GP Holdings LP Class A | 176,389 | 2,813,405 | ||||||
| 6,977,101 | ||||||||
| 43,574,754 | ||||||||
| Financial — 20.6% | ||||||||
| Banks — 8.4% | ||||||||
| Goldman Sachs Group, Inc. | 6,259 | 2,414,534 | ||||||
| Huntington Bancshares, Inc. | 86,900 | 1,105,368 | ||||||
| JP Morgan Chase & Co. | 70,095 | 11,923,159 | ||||||
| M&T Bank Corp. | 22,511 | 3,085,808 | ||||||
| Morgan Stanley | 54,071 | 5,042,121 | ||||||
| Northern Trust Corp. | 18,173 | 1,533,438 | ||||||
| US Bancorp | 63,945 | 2,767,540 | ||||||
| Wells Fargo & Co. | 175,076 | 8,617,241 | ||||||
| 36,489,209 | ||||||||
| Diversified Financial Services — 3.3% | ||||||||
| AerCap Holdings NV (a) | 25,273 | 1,878,289 | ||||||
| American Express Co. | 19,541 | 3,660,811 | ||||||
| Ares Management Corp. Class A | 7,942 | 944,463 | ||||||
| Charles Schwab Corp. | 28,826 | 1,983,229 | ||||||
| Discover Financial Services | 34,364 | 3,862,514 | ||||||
| Intercontinental Exchange, Inc. | 16,478 | 2,116,269 | ||||||
| 14,445,575 | ||||||||
| Insurance — 6.4% | ||||||||
| Allstate Corp. | 32,738 | 4,582,665 | ||||||
| American International Group, Inc. | 28,157 | 1,907,637 | ||||||
| Aon PLC Class A | 3,490 | 1,015,660 | ||||||
| Arthur J Gallagher & Co. | 6,781 | 1,524,911 | ||||||
| Axis Capital Holdings Ltd. | 20,761 | 1,149,536 | ||||||
| Berkshire Hathaway, Inc. Class B (a) | 25,210 | 8,991,399 | ||||||
| Chubb Ltd. | 29,302 | 6,622,252 | ||||||
| Willis Towers Watson PLC | 7,749 | 1,869,059 | ||||||
| 27,663,119 | ||||||||
| Real Estate — 0.3% | ||||||||
| Howard Hughes Holdings, Inc. (a) | 14,955 | 1,279,400 | ||||||
| Real Estate Investment Trusts (REITS) — 2.2% | ||||||||
| COPT Defense Properties | 41,203 | 1,056,033 | ||||||
| CubeSmart | 28,930 | 1,340,905 | ||||||
| Public Storage | 14,559 | 4,440,495 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| VICI Properties, Inc. | 77,459 | $ | 2,469,393 | |||||
| 9,306,826 | ||||||||
| 89,184,129 | ||||||||
| Industrial — 13.2% | ||||||||
| Aerospace & Defense — 3.7% | ||||||||
| Boeing Co. (a) | 11,132 | 2,901,667 | ||||||
| General Dynamics Corp. | 25,070 | 6,509,927 | ||||||
| Howmet Aerospace, Inc. | 43,366 | 2,346,968 | ||||||
| RTX Corp. | 53,294 | 4,484,157 | ||||||
| 16,242,719 | ||||||||
| Building Materials — 2.8% | ||||||||
| Builders FirstSource, Inc. (a) | 4,581 | 764,752 | ||||||
| CRH PLC | 78,682 | 5,441,647 | ||||||
| Knife River Corp. (a) | 27,742 | 1,835,965 | ||||||
| Masco Corp. | 29,570 | 1,980,599 | ||||||
| MDU Resources Group, Inc. | 54,962 | 1,088,248 | ||||||
| Mohawk Industries, Inc. (a) | 9,234 | 955,719 | ||||||
| 12,066,930 | ||||||||
| Electrical Components & Equipment — 0.5% | ||||||||
| Eaton Corp. PLC | 9,058 | 2,181,348 | ||||||
| Electronics — 0.8% | ||||||||
| Allegion PLC | 11,948 | 1,513,692 | ||||||
| Fortive Corp. | 28,567 | 2,103,389 | ||||||
| 3,617,081 | ||||||||
| Engineering & Construction — 0.8% | ||||||||
| AECOM | 19,148 | 1,769,850 | ||||||
| Jacobs Solutions, Inc. | 13,597 | 1,764,890 | ||||||
| 3,534,740 | ||||||||
| Hand & Machine Tools — 0.6% | ||||||||
| Stanley Black & Decker, Inc. | 27,592 | 2,706,775 | ||||||
| Machinery – Construction & Mining — 2.0% | ||||||||
| BWX Technologies, Inc. | 29,919 | 2,295,685 | ||||||
| Caterpillar, Inc. | 3,463 | 1,023,905 | ||||||
| Vertiv Holdings Co. Class A | 109,868 | 5,276,960 | ||||||
| 8,596,550 | ||||||||
| Machinery – Diversified — 1.5% | ||||||||
| Deere & Co. | 5,386 | 2,153,700 | ||||||
| Dover Corp. | 8,818 | 1,356,296 | ||||||
| Otis Worldwide Corp. | 9,725 | 870,096 | ||||||
| Westinghouse Air Brake Technologies Corp. | 15,390 | 1,952,991 | ||||||
| 6,333,083 | ||||||||
| Transportation — 0.5% | ||||||||
| JB Hunt Transport Services, Inc. | 10,730 | 2,143,210 | ||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| $ | 57,422,436 | |||||||
| Technology — 11.6% | ||||||||
| Computers — 2.4% | ||||||||
| CACI International, Inc. Class A (a) | 5,610 |
| 1,816,855 | |||||
| Cognizant Technology Solutions Corp. Class A | 49,640 | 3,749,309 | ||||||
| Dell Technologies, Inc. Class C | 35,065 | 2,682,472 | ||||||
| Leidos Holdings, Inc. | 17,830 | 1,929,919 | ||||||
| 10,178,555 | ||||||||
| Semiconductors — 5.7% | ||||||||
| Advanced Micro Devices, Inc. (a) | 19,457 | 2,868,156 | ||||||
| Applied Materials, Inc. | 16,903 | 2,739,469 | ||||||
| Broadcom, Inc. | 3,427 | 3,825,389 | ||||||
| Lam Research Corp. | 1,887 | 1,478,012 | ||||||
| Microchip Technology, Inc. | 48,718 | 4,393,389 | ||||||
| Micron Technology, Inc. | 34,124 | 2,912,142 | ||||||
| NXP Semiconductors NV | 2,610 | 599,465 | ||||||
| QUALCOMM, Inc. | 21,346 | 3,087,272 | ||||||
| Skyworks Solutions, Inc. | 24,961 | 2,806,116 | ||||||
| 24,709,410 | ||||||||
| Software — 3.5% | ||||||||
| Electronic Arts, Inc. | 13,579 | 1,857,743 | ||||||
| Fidelity National Information Services, Inc. | 81,554 | 4,898,949 | ||||||
| Oracle Corp. | 63,653 | 6,710,936 | ||||||
| SS&C Technologies Holdings, Inc. | 16,364 | 1,000,004 | ||||||
| Take-Two Interactive Software, Inc. (a) | 5,438 | 875,246 | ||||||
| 15,342,878 | ||||||||
| 50,230,843 | ||||||||
| Utilities — 3.2% | ||||||||
| Electric — 3.2% | ||||||||
| CenterPoint Energy, Inc. | 87,572 | 2,501,932 | ||||||
| Entergy Corp. | 47,784 | 4,835,263 | ||||||
| Exelon Corp. | 39,973 | 1,435,031 | ||||||
| FirstEnergy Corp. | 44,420 | 1,628,437 | ||||||
| Pinnacle West Capital Corp. | 50,411 | 3,621,526 | ||||||
| 14,022,189 | ||||||||
| TOTAL COMMON STOCK (Cost $343,588,132) | 429,723,184 | |||||||
| TOTAL EQUITIES (Cost $343,588,132) | 429,723,184 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $343,588,132) | 429,723,184 | |||||||
| MassMutual Fundamental Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 2.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.4% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 2,027,172 | $ | 2,027,172 | |||||
| Principal Amount | ||||||||
| Repurchase Agreement — 1.8% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 7,673,615 | 7,673,615 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,700,787) | 9,700,787 | |||||||
| TOTAL INVESTMENTS — 101.2% (Cost $353,288,919) (e) | 439,423,971 | |||||||
| Other Assets/(Liabilities) — (1.2)% | (5,364,978) | |||||||
| NET ASSETS — 100.0% | $ | 434,058,993 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $2,912,838 or 0.67% of net assets. The Fund received $969,055 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 $7,674,979. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 4.875%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $7,827,213. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MM S&P 500 Index Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 100.2% | ||||||||
| COMMON STOCK — 100.2% | ||||||||
| Basic Materials — 2.0% | ||||||||
| Chemicals — 1.5% | ||||||||
| Air Products & Chemicals, Inc. | 14,774 | $ | 4,045,121 | |||||
| Albemarle Corp. (a) | 7,731 | 1,116,975 | ||||||
| Celanese Corp. | 6,587 | 1,023,422 | ||||||
| CF Industries Holdings, Inc. | 12,906 | 1,026,027 | ||||||
| Dow, Inc. | 46,325 | 2,540,463 | ||||||
| DuPont de Nemours, Inc. | 28,285 | 2,175,965 | ||||||
| Eastman Chemical Co. | 8,062 | 724,129 | ||||||
| Ecolab, Inc. | 16,853 | 3,342,793 | ||||||
| FMC Corp. | 8,429 | 531,448 | ||||||
| International Flavors & Fragrances, Inc. | 16,793 | 1,359,729 | ||||||
| Linde PLC (LIN US) | 32,128 | 13,195,291 | ||||||
| LyondellBasell Industries NV Class A | 16,863 | 1,603,334 | ||||||
| Mosaic Co. | 21,423 | 765,444 | ||||||
| PPG Industries, Inc. | 15,682 | 2,345,243 | ||||||
| Sherwin-Williams Co. | 15,610 | 4,868,759 | ||||||
| 40,664,143 | ||||||||
| Forest Products & Paper — 0.0% | ||||||||
| International Paper Co. | 23,331 | 843,416 | ||||||
| Iron & Steel — 0.2% | ||||||||
| Nucor Corp. | 16,276 | 2,832,675 | ||||||
| Steel Dynamics, Inc. | 10,076 | 1,189,975 | ||||||
| 4,022,650 | ||||||||
| Mining — 0.3% | ||||||||
| Freeport-McMoRan, Inc. | 95,289 | 4,056,453 | ||||||
| Newmont Corp. (NEM US) | 76,357 | 3,160,416 | ||||||
| 7,216,869 | ||||||||
| 52,747,078 | ||||||||
| Communications — 14.1% | ||||||||
| Advertising — 0.1% | ||||||||
| Interpublic Group of Cos., Inc. | 25,774 | 841,264 | ||||||
| Omnicom Group, Inc. | 13,183 | 1,140,461 | ||||||
| 1,981,725 | ||||||||
| Internet — 11.1% | ||||||||
| Airbnb, Inc. Class A (b) | 28,825 | 3,924,236 | ||||||
| Alphabet, Inc. Class A (b) | 392,349 | 54,807,232 | ||||||
| Alphabet, Inc. Class C (b) | 330,453 | 46,570,741 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Amazon.com, Inc. (b) | 603,094 | $ | 91,634,102 | |||||
| Booking Holdings, Inc. (b) | 2,315 | 8,211,814 | ||||||
| CDW Corp. | 8,836 | 2,008,600 | ||||||
| eBay, Inc. | 34,143 | 1,489,318 | ||||||
| Etsy, Inc. (b) | 7,869 | 637,782 | ||||||
| Expedia Group, Inc. (b) | 8,824 | 1,339,395 | ||||||
| F5, Inc. (b) | 4,007 | 717,173 | ||||||
| Gen Digital, Inc. | 36,833 | 840,529 | ||||||
| Match Group, Inc. (b) | 17,852 | 651,598 | ||||||
| Meta Platforms, Inc. Class A (b) | 147,220 | 52,109,991 | ||||||
| Netflix, Inc. (b) | 29,024 | 14,131,205 | ||||||
| Palo Alto Networks, Inc. (b) | 20,614 | 6,078,656 | ||||||
| Uber Technologies, Inc. (b) | 136,470 | 8,402,458 | ||||||
| VeriSign, Inc. (b) | 5,874 | 1,209,809 | ||||||
| 294,764,639 | ||||||||
| Media — 1.1% | ||||||||
| Charter Communications, Inc. Class A (b) | 6,649 | 2,584,333 | ||||||
| Comcast Corp. Class A | 265,997 | 11,663,968 | ||||||
| FactSet Research Systems, Inc. | 2,517 | 1,200,735 | ||||||
| Fox Corp. Class A | 15,882 | 471,219 | ||||||
| Fox Corp. Class B | 8,322 | 230,103 | ||||||
| News Corp. Class A | 25,259 | 620,108 | ||||||
| News Corp. Class B | 7,340 | 188,785 | ||||||
| Paramount Global Class B | 32,178 | 475,913 | ||||||
| Walt Disney Co. | 121,224 | 10,945,315 | ||||||
| Warner Bros Discovery, Inc. (b) | 148,770 | 1,693,003 | ||||||
| 30,073,482 | ||||||||
| Telecommunications — 1.8% | ||||||||
| Arista Networks, Inc. (b) | 16,670 | 3,925,952 | ||||||
| AT&T, Inc. | 474,677 | 7,965,080 | ||||||
| Cisco Systems, Inc. | 268,268 | 13,552,899 | ||||||
| Corning, Inc. | 51,532 | 1,569,150 | ||||||
| Juniper Networks, Inc. | 21,683 | 639,215 | ||||||
| Motorola Solutions, Inc. | 11,004 | 3,445,242 | ||||||
| T-Mobile US, Inc. | 33,642 | 5,393,822 | ||||||
| Verizon Communications, Inc. | 279,290 | 10,529,233 | ||||||
| 47,020,593 | ||||||||
| 373,840,439 | ||||||||
| Consumer, Cyclical — 9.1% | ||||||||
| Airlines — 0.2% | ||||||||
| American Airlines Group, Inc. (b) | 44,036 | 605,055 | ||||||
| Delta Air Lines, Inc. | 42,952 | 1,727,959 | ||||||
| Southwest Airlines Co. | 38,938 | 1,124,529 | ||||||
| United Airlines Holdings, Inc. (b) | 21,578 | 890,308 | ||||||
| 4,347,851 | ||||||||
| Apparel — 0.4% | ||||||||
| NIKE, Inc. Class B | 81,068 | 8,801,553 | ||||||
| Ralph Lauren Corp. | 2,696 | 388,763 | ||||||
| Tapestry, Inc. | 15,403 | 566,984 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| VF Corp. | 22,167 | $ | 416,740 | |||||
| 10,174,040 | ||||||||
| Auto Manufacturers — 2.2% | ||||||||
| Cummins, Inc. | 9,382 | 2,247,646 | ||||||
| Ford Motor Co. | 260,874 | 3,180,054 | ||||||
| General Motors Co. | 91,014 | 3,269,223 | ||||||
| PACCAR, Inc. | 34,729 | 3,391,287 | ||||||
| Tesla, Inc. (b) | 183,426 | 45,577,692 | ||||||
| 57,665,902 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Aptiv PLC (b) | 18,555 | 1,664,755 | ||||||
| BorgWarner, Inc. | 15,798 | 566,358 | ||||||
| 2,231,113 | ||||||||
| Distribution & Wholesale — 0.4% | ||||||||
| Copart, Inc. (b) | 58,219 | 2,852,731 | ||||||
| Fastenal Co. | 37,867 | 2,452,645 | ||||||
| LKQ Corp. | 17,916 | 856,206 | ||||||
| Pool Corp. | 2,528 | 1,007,939 | ||||||
| W.W. Grainger, Inc. | 2,920 | 2,419,775 | ||||||
| 9,589,296 | ||||||||
| Entertainment — 0.1% | ||||||||
| Caesars Entertainment, Inc. (b) | 14,016 | 657,070 | ||||||
| Live Nation Entertainment, Inc. (b) | 9,453 | 884,801 | ||||||
| 1,541,871 | ||||||||
| Home Builders — 0.3% | ||||||||
| DR Horton, Inc. | 20,005 | 3,040,360 | ||||||
| Lennar Corp. Class A | 16,512 | 2,460,949 | ||||||
| NVR, Inc. (b) | 211 | 1,477,095 | ||||||
| PulteGroup, Inc. | 14,470 | 1,493,593 | ||||||
| 8,471,997 | ||||||||
| Home Furnishing — 0.0% | ||||||||
| Whirlpool Corp. | 3,691 | 449,453 | ||||||
| Leisure Time — 0.1% | ||||||||
| Carnival Corp. (b) | 66,448 | 1,231,946 | ||||||
| Norwegian Cruise Line Holdings Ltd. (a) (b) | 28,962 | 580,398 | ||||||
| Royal Caribbean Cruises Ltd. (b) | 15,526 | 2,010,462 | ||||||
| 3,822,806 | ||||||||
| Lodging — 0.3% | ||||||||
| Hilton Worldwide Holdings, Inc. | 17,012 | 3,097,715 | ||||||
| Las Vegas Sands Corp. | 24,736 | 1,217,259 | ||||||
| Marriott International, Inc. Class A | 16,375 | 3,692,726 | ||||||
| MGM Resorts International | 18,093 | 808,395 | ||||||
| Wynn Resorts Ltd. | 6,189 | 563,880 | ||||||
| 9,379,975 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Retail — 5.0% | ||||||||
| AutoZone, Inc. (b) | 1,167 | $ | 3,017,407 | |||||
| Bath & Body Works, Inc. | 15,338 | 661,988 | ||||||
| Best Buy Co., Inc. | 12,993 | 1,017,092 | ||||||
| CarMax, Inc. (b) | 10,311 | 791,266 | ||||||
| Chipotle Mexican Grill, Inc. (b) | 1,820 | 4,162,267 | ||||||
| Costco Wholesale Corp. | 29,389 | 19,399,091 | ||||||
| Darden Restaurants, Inc. | 7,867 | 1,292,548 | ||||||
| Dollar General Corp. | 14,689 | 1,996,970 | ||||||
| Dollar Tree, Inc. (b) | 13,816 | 1,962,563 | ||||||
| Domino's Pizza, Inc. | 2,299 | 947,717 | ||||||
| Genuine Parts Co. | 9,430 | 1,306,055 | ||||||
| Home Depot, Inc. | 66,290 | 22,972,799 | ||||||
| Lowe's Cos., Inc. | 38,213 | 8,504,303 | ||||||
| Lululemon Athletica, Inc. (b) | 7,627 | 3,899,609 | ||||||
| McDonald's Corp. | 48,121 | 14,268,358 | ||||||
| O'Reilly Automotive, Inc. (b) | 3,916 | 3,720,513 | ||||||
| Ross Stores, Inc. | 22,585 | 3,125,538 | ||||||
| Starbucks Corp. | 75,762 | 7,273,910 | ||||||
| Target Corp. | 30,699 | 4,372,152 | ||||||
| TJX Cos., Inc. | 75,678 | 7,099,353 | ||||||
| Tractor Supply Co. | 7,156 | 1,538,755 | ||||||
| Ulta Beauty, Inc. (b) | 3,256 | 1,595,407 | ||||||
| Walgreens Boots Alliance, Inc. | 48,343 | 1,262,236 | ||||||
| Walmart, Inc. | 94,630 | 14,918,419 | ||||||
| Yum! Brands, Inc. | 18,459 | 2,411,853 | ||||||
| 133,518,169 | ||||||||
| Toys, Games & Hobbies — 0.0% | ||||||||
| Hasbro, Inc. | 8,794 | 449,022 | ||||||
| 241,641,495 | ||||||||
| Consumer, Non-cyclical — 19.0% | ||||||||
| Agriculture — 0.7% | ||||||||
| Altria Group, Inc. | 117,229 | 4,729,018 | ||||||
| Archer-Daniels-Midland Co. | 35,434 | 2,559,043 | ||||||
| Bunge Global SA | 9,589 | 968,010 | ||||||
| Philip Morris International, Inc. | 102,936 | 9,684,219 | ||||||
| 17,940,290 | ||||||||
| Beverages — 1.5% | ||||||||
| Brown-Forman Corp. Class B | 12,173 | 695,078 | ||||||
| Coca-Cola Co. | 258,059 | 15,207,417 | ||||||
| Constellation Brands, Inc. Class A | 10,739 | 2,596,153 | ||||||
| Keurig Dr Pepper, Inc. | 67,153 | 2,237,538 | ||||||
| Molson Coors Beverage Co. Class B | 12,355 | 756,250 | ||||||
| Monster Beverage Corp. (b) | 48,895 | 2,816,841 | ||||||
| PepsiCo, Inc. | 91,074 | 15,468,008 | ||||||
| 39,777,285 | ||||||||
| Biotechnology — 1.5% | ||||||||
| Amgen, Inc. | 35,443 | 10,208,293 | ||||||
| Bio-Rad Laboratories, Inc. Class A (b) | 1,426 | 460,441 | ||||||
| Biogen, Inc. (b) | 9,598 | 2,483,674 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Corteva, Inc. | 47,017 | $ | 2,253,054 | |||||
| Gilead Sciences, Inc. | 82,775 | 6,705,603 | ||||||
| Illumina, Inc. (b) | 10,574 | 1,472,324 | ||||||
| Incyte Corp. (b) | 12,513 | 785,691 | ||||||
| Moderna, Inc. (b) | 22,135 | 2,201,326 | ||||||
| Regeneron Pharmaceuticals, Inc. (b) | 7,100 | 6,235,859 | ||||||
| Vertex Pharmaceuticals, Inc. (b) | 17,083 | 6,950,902 | ||||||
| 39,757,167 | ||||||||
| Commercial Services — 1.8% | ||||||||
| Automatic Data Processing, Inc. | 27,351 | 6,371,962 | ||||||
| Cintas Corp. | 5,749 | 3,464,692 | ||||||
| CoStar Group, Inc. (b) | 27,022 | 2,361,453 | ||||||
| Equifax, Inc. | 8,246 | 2,039,153 | ||||||
| FleetCor Technologies, Inc. (b) | 4,762 | 1,345,789 | ||||||
| Gartner, Inc. (b) | 5,170 | 2,332,239 | ||||||
| Global Payments, Inc. | 17,311 | 2,198,497 | ||||||
| MarketAxess Holdings, Inc. | 2,548 | 746,182 | ||||||
| Moody's Corp. | 10,427 | 4,072,369 | ||||||
| PayPal Holdings, Inc. (b) | 71,288 | 4,377,796 | ||||||
| Quanta Services, Inc. | 9,590 | 2,069,522 | ||||||
| Robert Half, Inc. | 7,000 | 615,440 | ||||||
| Rollins, Inc. | 18,671 | 815,363 | ||||||
| S&P Global, Inc. | 21,498 | 9,470,299 | ||||||
| United Rentals, Inc. | 4,495 | 2,577,523 | ||||||
| Verisk Analytics, Inc. | 9,633 | 2,300,938 | ||||||
| 47,159,217 | ||||||||
| Cosmetics & Personal Care — 1.2% | ||||||||
| Colgate-Palmolive Co. | 54,470 | 4,341,804 | ||||||
| Estee Lauder Cos., Inc. Class A | 15,441 | 2,258,246 | ||||||
| Kenvue, Inc. | 114,249 | 2,459,781 | ||||||
| Procter & Gamble Co. | 156,186 | 22,887,496 | ||||||
| 31,947,327 | ||||||||
| Food — 0.9% | ||||||||
| Campbell Soup Co. | 13,396 | 579,109 | ||||||
| Conagra Brands, Inc. | 31,088 | 890,982 | ||||||
| General Mills, Inc. | 38,664 | 2,518,573 | ||||||
| Hershey Co. | 10,013 | 1,866,824 | ||||||
| Hormel Foods Corp. | 19,615 | 629,838 | ||||||
| J. M. Smucker Co. | 6,902 | 872,275 | ||||||
| Kellanova | 17,156 | 959,192 | ||||||
| Kraft Heinz Co. | 53,175 | 1,966,411 | ||||||
| Kroger Co. | 44,104 | 2,015,994 | ||||||
| Lamb Weston Holdings, Inc. | 9,594 | 1,037,015 | ||||||
| McCormick & Co., Inc. | 16,771 | 1,147,472 | ||||||
| Mondelez International, Inc. Class A | 89,977 | 6,517,034 | ||||||
| Sysco Corp. | 33,193 | 2,427,404 | ||||||
| Tyson Foods, Inc. Class A | 18,665 | 1,003,244 | ||||||
| 24,431,367 | ||||||||
| Health Care – Products — 3.5% | ||||||||
| Abbott Laboratories | 115,030 | 12,661,352 | ||||||
| Agilent Technologies, Inc. | 19,273 | 2,679,525 | ||||||
| Align Technology, Inc. (b) | 4,785 | 1,311,090 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Baxter International, Inc. | 33,894 | $ | 1,310,342 | |||||
| Bio-Techne Corp. | 10,622 | 819,594 | ||||||
| Boston Scientific Corp. (b) | 96,785 | 5,595,141 | ||||||
| Cooper Cos., Inc. | 3,303 | 1,249,987 | ||||||
| Danaher Corp. | 43,656 | 10,099,379 | ||||||
| DENTSPLY SIRONA, Inc. | 14,354 | 510,859 | ||||||
| Edwards Lifesciences Corp. (b) | 40,193 | 3,064,716 | ||||||
| GE HealthCare Technologies, Inc. (b) | 26,216 | 2,027,021 | ||||||
| Hologic, Inc. (b) | 16,468 | 1,176,639 | ||||||
| IDEXX Laboratories, Inc. (b) | 5,494 | 3,049,445 | ||||||
| Insulet Corp. (b) | 4,580 | 993,768 | ||||||
| Intuitive Surgical, Inc. (b) | 23,362 | 7,881,404 | ||||||
| Medtronic PLC | 88,448 | 7,286,346 | ||||||
| ResMed, Inc. | 9,673 | 1,663,949 | ||||||
| Revvity, Inc. | 8,370 | 914,925 | ||||||
| Steris PLC | 6,489 | 1,426,607 | ||||||
| Stryker Corp. | 22,462 | 6,726,471 | ||||||
| Teleflex, Inc. | 3,166 | 789,410 | ||||||
| Thermo Fisher Scientific, Inc. | 25,657 | 13,618,479 | ||||||
| Waters Corp. (b) | 3,861 | 1,271,157 | ||||||
| West Pharmaceutical Services, Inc. | 4,891 | 1,722,219 | ||||||
| Zimmer Biomet Holdings, Inc. | 13,967 | 1,699,784 | ||||||
| 91,549,609 | ||||||||
| Health Care – Services — 2.2% | ||||||||
| Catalent, Inc. (b) | 12,240 | 549,943 | ||||||
| Centene Corp. (b) | 35,390 | 2,626,292 | ||||||
| Charles River Laboratories International, Inc. (b) | 3,459 | 817,708 | ||||||
| DaVita, Inc. (b) | 3,511 | 367,812 | ||||||
| Elevance Health, Inc. | 15,606 | 7,359,165 | ||||||
| HCA Healthcare, Inc. | 13,098 | 3,545,367 | ||||||
| Humana, Inc. | 8,164 | 3,737,561 | ||||||
| IQVIA Holdings, Inc. (b) | 12,149 | 2,811,036 | ||||||
| Laboratory Corp. of America Holdings | 5,547 | 1,260,778 | ||||||
| Molina Healthcare, Inc. (b) | 3,852 | 1,391,766 | ||||||
| Quest Diagnostics, Inc. | 7,563 | 1,042,786 | ||||||
| UnitedHealth Group, Inc. | 61,372 | 32,310,517 | ||||||
| Universal Health Services, Inc. Class B | 3,991 | 608,388 | ||||||
| 58,429,119 | ||||||||
| Household Products & Wares — 0.2% | ||||||||
| Avery Dennison Corp. | 5,291 | 1,069,629 | ||||||
| Church & Dwight Co., Inc. | 16,496 | 1,559,862 | ||||||
| Clorox Co. | 8,290 | 1,182,071 | ||||||
| Kimberly-Clark Corp. | 22,359 | 2,716,842 | ||||||
| 6,528,404 | ||||||||
| Pharmaceuticals — 5.5% | ||||||||
| AbbVie, Inc. | 117,049 | 18,139,084 | ||||||
| Becton Dickinson & Co. | 19,304 | 4,706,894 | ||||||
| Bristol-Myers Squibb Co. | 134,588 | 6,905,710 | ||||||
| Cardinal Health, Inc. | 16,345 | 1,647,576 | ||||||
| Cencora, Inc. | 10,968 | 2,252,608 | ||||||
| Cigna Group | 19,390 | 5,806,335 | ||||||
| CVS Health Corp. | 85,353 | 6,739,473 | ||||||
| Dexcom, Inc. (b) | 25,545 | 3,169,879 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Eli Lilly & Co. | 52,898 | $ | 30,835,302 | |||||
| Henry Schein, Inc. (b) | 8,731 | 661,024 | ||||||
| Johnson & Johnson | 159,742 | 25,037,961 | ||||||
| McKesson Corp. | 8,836 | 4,090,891 | ||||||
| Merck & Co., Inc. | 167,927 | 18,307,402 | ||||||
| Pfizer, Inc. | 373,840 | 10,762,854 | ||||||
| Viatris, Inc. | 78,534 | 850,523 | ||||||
| Zoetis, Inc. | 30,416 | 6,003,206 | ||||||
| 145,916,722 | ||||||||
| 503,436,507 | ||||||||
| Energy — 4.0% | ||||||||
| Energy – Alternate Sources — 0.1% | ||||||||
| Enphase Energy, Inc. (b) | 8,988 | 1,187,674 | ||||||
| First Solar, Inc. (b) | 7,187 | 1,238,176 | ||||||
| 2,425,850 | ||||||||
| Oil & Gas — 3.2% | ||||||||
| APA Corp. | 20,656 | 741,137 | ||||||
| Chevron Corp. | 116,367 | 17,357,302 | ||||||
| ConocoPhillips | 78,823 | 9,148,986 | ||||||
| Coterra Energy, Inc. | 49,985 | 1,275,617 | ||||||
| Devon Energy Corp. | 42,255 | 1,914,152 | ||||||
| Diamondback Energy, Inc. | 11,783 | 1,827,308 | ||||||
| EOG Resources, Inc. | 38,750 | 4,686,812 | ||||||
| EQT Corp. | 27,265 | 1,054,065 | ||||||
| Exxon Mobil Corp. | 265,656 | 26,560,287 | ||||||
| Hess Corp. | 18,342 | 2,644,183 | ||||||
| Marathon Oil Corp. | 38,596 | 932,479 | ||||||
| Marathon Petroleum Corp. | 25,229 | 3,742,974 | ||||||
| Occidental Petroleum Corp. | 43,851 | 2,618,343 | ||||||
| Phillips 66 | 29,214 | 3,889,552 | ||||||
| Pioneer Natural Resources Co. | 15,434 | 3,470,798 | ||||||
| Valero Energy Corp. | 22,586 | 2,936,180 | ||||||
| 84,800,175 | ||||||||
| Oil & Gas Services — 0.4% | ||||||||
| Baker Hughes Co. | 66,914 | 2,287,120 | ||||||
| Halliburton Co. | 59,312 | 2,144,129 | ||||||
| Schlumberger NV | 94,593 | 4,922,620 | ||||||
| 9,353,869 | ||||||||
| Pipelines — 0.3% | ||||||||
| Kinder Morgan, Inc. | 129,121 | 2,277,694 | ||||||
| ONEOK, Inc. | 38,504 | 2,703,751 | ||||||
| Targa Resources Corp. | 14,754 | 1,281,680 | ||||||
| Williams Cos., Inc. | 80,820 | 2,814,961 | ||||||
| 9,078,086 | ||||||||
| 105,657,980 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Financial — 14.1% | ||||||||
| Banks — 4.1% | ||||||||
| Bank of America Corp. | 456,827 | $ | 15,381,365 | |||||
| Bank of New York Mellon Corp. | 50,846 | 2,646,534 | ||||||
| Citigroup, Inc. | 126,907 | 6,528,096 | ||||||
| Citizens Financial Group, Inc. | 30,994 | 1,027,141 | ||||||
| Comerica, Inc. | 8,894 | 496,374 | ||||||
| Fifth Third Bancorp | 44,731 | 1,542,772 | ||||||
| Goldman Sachs Group, Inc. | 21,629 | 8,343,819 | ||||||
| Huntington Bancshares, Inc. | 95,264 | 1,211,758 | ||||||
| JP Morgan Chase & Co. | 191,815 | 32,627,732 | ||||||
| KeyCorp. | 60,949 | 877,666 | ||||||
| M&T Bank Corp. | 10,934 | 1,498,833 | ||||||
| Morgan Stanley | 83,757 | 7,810,340 | ||||||
| Northern Trust Corp. | 13,945 | 1,176,679 | ||||||
| PNC Financial Services Group, Inc. | 26,374 | 4,084,014 | ||||||
| Regions Financial Corp. | 61,192 | 1,185,901 | ||||||
| State Street Corp. | 20,345 | 1,575,924 | ||||||
| Truist Financial Corp. | 88,095 | 3,252,467 | ||||||
| US Bancorp | 103,150 | 4,464,332 | ||||||
| Wells Fargo & Co. | 241,018 | 11,862,906 | ||||||
| Zions Bancorp NA | 9,996 | 438,525 | ||||||
| 108,033,178 | ||||||||
| Diversified Financial Services — 3.7% | ||||||||
| American Express Co. | 38,178 | 7,152,267 | ||||||
| Ameriprise Financial, Inc. | 6,717 | 2,551,318 | ||||||
| BlackRock, Inc. | 9,293 | 7,544,057 | ||||||
| Capital One Financial Corp. | 25,226 | 3,307,633 | ||||||
| Cboe Global Markets, Inc. | 6,989 | 1,247,956 | ||||||
| Charles Schwab Corp. | 98,814 | 6,798,403 | ||||||
| CME Group, Inc. | 23,909 | 5,035,235 | ||||||
| Discover Financial Services | 16,656 | 1,872,134 | ||||||
| Franklin Resources, Inc. | 18,364 | 547,064 | ||||||
| Intercontinental Exchange, Inc. | 38,076 | 4,890,101 | ||||||
| Invesco Ltd. | 30,716 | 547,973 | ||||||
| Mastercard, Inc. Class A | 54,922 | 23,424,782 | ||||||
| Nasdaq, Inc. | 22,647 | 1,316,697 | ||||||
| Raymond James Financial, Inc. | 12,616 | 1,406,684 | ||||||
| Synchrony Financial | 27,735 | 1,059,200 | ||||||
| T. Rowe Price Group, Inc. | 14,639 | 1,576,474 | ||||||
| Visa, Inc. Class A | 105,676 | 27,512,747 | ||||||
| 97,790,725 | ||||||||
| Insurance — 3.7% | ||||||||
| Aflac, Inc. | 35,298 | 2,912,085 | ||||||
| Allstate Corp. | 17,344 | 2,427,813 | ||||||
| American International Group, Inc. | 46,484 | 3,149,291 | ||||||
| Aon PLC Class A | 13,278 | 3,864,164 | ||||||
| Arch Capital Group Ltd. (b) | 24,801 | 1,841,970 | ||||||
| Arthur J Gallagher & Co. | 14,324 | 3,221,181 | ||||||
| Assurant, Inc. | 3,503 | 590,220 | ||||||
| Berkshire Hathaway, Inc. Class B (b) | 120,717 | 43,054,925 | ||||||
| Brown & Brown, Inc. | 15,716 | 1,117,565 | ||||||
| Chubb Ltd. | 27,063 | 6,116,238 | ||||||
| Cincinnati Financial Corp. | 10,541 | 1,090,572 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Everest Group Ltd. | 2,844 | $ | 1,005,581 | |||||
| Globe Life, Inc. | 5,676 | 690,883 | ||||||
| Hartford Financial Services Group, Inc. | 19,998 | 1,607,439 | ||||||
| Loews Corp. | 12,023 | 836,681 | ||||||
| Marsh & McLennan Cos., Inc. | 32,700 | 6,195,669 | ||||||
| MetLife, Inc. | 41,154 | 2,721,514 | ||||||
| Principal Financial Group, Inc. | 14,448 | 1,136,624 | ||||||
| Progressive Corp. | 38,809 | 6,181,497 | ||||||
| Prudential Financial, Inc. | 23,770 | 2,465,187 | ||||||
| Travelers Cos., Inc. | 15,080 | 2,872,589 | ||||||
| W. R. Berkley Corp. | 13,583 | 960,590 | ||||||
| Willis Towers Watson PLC | 6,828 | 1,646,914 | ||||||
| 97,707,192 | ||||||||
| Private Equity — 0.2% | ||||||||
| Blackstone, Inc. | 47,032 | 6,157,429 | ||||||
| Real Estate — 0.1% | ||||||||
| CBRE Group, Inc. Class A (b) | 20,102 | 1,871,295 | ||||||
| Real Estate Investment Trusts (REITS) — 2.3% | ||||||||
| Alexandria Real Estate Equities, Inc. | 10,367 | 1,314,225 | ||||||
| American Tower Corp. | 30,885 | 6,667,454 | ||||||
| AvalonBay Communities, Inc. | 9,492 | 1,777,092 | ||||||
| Boston Properties, Inc. | 9,629 | 675,667 | ||||||
| Camden Property Trust | 7,194 | 714,292 | ||||||
| Crown Castle, Inc. | 28,789 | 3,316,205 | ||||||
| Digital Realty Trust, Inc. | 20,092 | 2,703,981 | ||||||
| Equinix, Inc. | 6,228 | 5,015,969 | ||||||
| Equity Residential | 23,060 | 1,410,350 | ||||||
| Essex Property Trust, Inc. | 4,294 | 1,064,654 | ||||||
| Extra Space Storage, Inc. | 13,985 | 2,242,215 | ||||||
| Federal Realty Investment Trust | 4,879 | 502,781 | ||||||
| Healthpeak Properties, Inc. | 35,295 | 698,841 | ||||||
| Host Hotels & Resorts, Inc. | 47,586 | 926,500 | ||||||
| Invitation Homes, Inc. | 37,659 | 1,284,549 | ||||||
| Iron Mountain, Inc. | 19,316 | 1,351,734 | ||||||
| Kimco Realty Corp. | 44,103 | 939,835 | ||||||
| Mid-America Apartment Communities, Inc. | 7,764 | 1,043,948 | ||||||
| Prologis, Inc. | 61,180 | 8,155,294 | ||||||
| Public Storage | 10,502 | 3,203,110 | ||||||
| Realty Income Corp. | 47,679 | 2,737,728 | ||||||
| Regency Centers Corp. | 11,057 | 740,819 | ||||||
| SBA Communications Corp. | 7,165 | 1,817,689 | ||||||
| Simon Property Group, Inc. | 21,635 | 3,086,016 | ||||||
| UDR, Inc. | 20,539 | 786,438 | ||||||
| Ventas, Inc. | 27,023 | 1,346,826 | ||||||
| VICI Properties, Inc. | 68,022 | 2,168,541 | ||||||
| Welltower, Inc. | 36,771 | 3,315,641 | ||||||
| Weyerhaeuser Co. | 48,756 | 1,695,246 | ||||||
| 62,703,640 | ||||||||
| 374,263,459 | ||||||||
| Industrial — 7.7% | ||||||||
| Aerospace & Defense — 1.5% | ||||||||
| Boeing Co. (b) | 37,716 | 9,831,053 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| General Dynamics Corp. | 15,066 | $ | 3,912,188 | |||||
| Howmet Aerospace, Inc. | 25,848 | 1,398,894 | ||||||
| L3 Harris Technologies, Inc. | 12,540 | 2,641,175 | ||||||
| Lockheed Martin Corp. | 14,683 | 6,654,923 | ||||||
| Northrop Grumman Corp. | 9,411 | 4,405,665 | ||||||
| RTX Corp. | 95,358 | 8,023,422 | ||||||
| TransDigm Group, Inc. | 3,674 | 3,716,618 | ||||||
| 40,583,938 | ||||||||
| Building Materials — 0.6% | ||||||||
| Builders FirstSource, Inc. (b) | 8,229 | 1,373,749 | ||||||
| Carrier Global Corp. | 55,610 | 3,194,794 | ||||||
| Johnson Controls International PLC | 45,107 | 2,599,967 | ||||||
| Martin Marietta Materials, Inc. | 4,126 | 2,058,503 | ||||||
| Masco Corp. | 14,795 | 990,969 | ||||||
| Mohawk Industries, Inc. (b) | 3,475 | 359,663 | ||||||
| Trane Technologies PLC | 15,178 | 3,701,914 | ||||||
| Vulcan Materials Co. | 8,871 | 2,013,806 | ||||||
| 16,293,365 | ||||||||
| Electrical Components & Equipment — 0.5% | ||||||||
| AMETEK, Inc. | 15,271 | 2,518,035 | ||||||
| Eaton Corp. PLC | 26,444 | 6,368,244 | ||||||
| Emerson Electric Co. | 37,699 | 3,669,244 | ||||||
| Generac Holdings, Inc. (b) | 3,983 | 514,763 | ||||||
| 13,070,286 | ||||||||
| Electronics — 1.0% | ||||||||
| Allegion PLC | 5,684 | 720,106 | ||||||
| Amphenol Corp. Class A | 39,756 | 3,941,012 | ||||||
| Fortive Corp. | 23,519 | 1,731,704 | ||||||
| Garmin Ltd. | 10,223 | 1,314,064 | ||||||
| Honeywell International, Inc. | 43,704 | 9,165,166 | ||||||
| Hubbell, Inc. | 3,574 | 1,175,596 | ||||||
| Jabil, Inc. | 8,484 | 1,080,862 | ||||||
| Keysight Technologies, Inc. (b) | 11,879 | 1,889,830 | ||||||
| Mettler-Toledo International, Inc. (b) | 1,444 | 1,751,514 | ||||||
| TE Connectivity Ltd. | 20,703 | 2,908,772 | ||||||
| Trimble, Inc. (b) | 16,225 | 863,170 | ||||||
| 26,541,796 | ||||||||
| Engineering & Construction — 0.0% | ||||||||
| Jacobs Solutions, Inc. | 8,305 | 1,077,989 | ||||||
| Environmental Controls — 0.3% | ||||||||
| Pentair PLC | 10,766 | 782,796 | ||||||
| Republic Services, Inc. | 13,507 | 2,227,440 | ||||||
| Veralto Corp. | 14,724 | 1,211,196 | ||||||
| Waste Management, Inc. | 24,353 | 4,361,622 | ||||||
| 8,583,054 | ||||||||
| Hand & Machine Tools — 0.1% | ||||||||
| Snap-on, Inc. | 3,486 | 1,006,896 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Stanley Black & Decker, Inc. | 10,351 | $ | 1,015,433 | |||||
| 2,022,329 | ||||||||
| Machinery – Construction & Mining — 0.4% | ||||||||
| Caterpillar, Inc. | 33,797 | 9,992,759 | ||||||
| Machinery – Diversified — 0.8% | ||||||||
| Deere & Co. | 17,771 | 7,106,090 | ||||||
| Dover Corp. | 9,279 | 1,427,203 | ||||||
| IDEX Corp. | 4,983 | 1,081,859 | ||||||
| Ingersoll Rand, Inc. | 26,682 | 2,063,586 | ||||||
| Nordson Corp. | 3,635 | 960,222 | ||||||
| Otis Worldwide Corp. | 27,296 | 2,442,173 | ||||||
| Rockwell Automation, Inc. | 7,560 | 2,347,229 | ||||||
| Westinghouse Air Brake Technologies Corp. | 12,002 | 1,523,054 | ||||||
| Xylem, Inc. | 15,857 | 1,813,406 | ||||||
| 20,764,822 | ||||||||
| Miscellaneous - Manufacturing — 1.0% | ||||||||
| 3M Co. | 36,693 | 4,011,279 | ||||||
| A.O. Smith Corp. | 8,093 | 667,187 | ||||||
| Axon Enterprise, Inc. (b) | 4,616 | 1,192,451 | ||||||
| General Electric Co. | 72,159 | 9,209,653 | ||||||
| Illinois Tool Works, Inc. | 18,209 | 4,769,665 | ||||||
| Parker-Hannifin Corp. | 8,498 | 3,915,029 | ||||||
| Teledyne Technologies, Inc. (b) | 3,087 | 1,377,697 | ||||||
| Textron, Inc. | 13,048 | 1,049,320 | ||||||
| 26,192,281 | ||||||||
| Packaging & Containers — 0.2% | ||||||||
| Amcor PLC | 96,404 | 929,335 | ||||||
| Ball Corp. | 20,599 | 1,184,854 | ||||||
| Packaging Corp. of America | 5,854 | 953,675 | ||||||
| Westrock Co. | 17,226 | 715,224 | ||||||
| 3,783,088 | ||||||||
| Shipbuilding — 0.0% | ||||||||
| Huntington Ingalls Industries, Inc. | 2,676 | 694,797 | ||||||
| Transportation — 1.3% | ||||||||
| C.H. Robinson Worldwide, Inc. | 7,856 | 678,680 | ||||||
| CSX Corp. | 131,210 | 4,549,051 | ||||||
| Expeditors International of Washington, Inc. | 9,659 | 1,228,625 | ||||||
| FedEx Corp. | 15,296 | 3,869,429 | ||||||
| JB Hunt Transport Services, Inc. | 5,369 | 1,072,404 | ||||||
| Norfolk Southern Corp. | 15,028 | 3,552,318 | ||||||
| Old Dominion Freight Line, Inc. | 5,928 | 2,402,796 | ||||||
| Union Pacific Corp. | 40,382 | 9,918,627 | ||||||
| United Parcel Service, Inc. Class B | 47,852 | 7,523,770 | ||||||
| 34,795,700 | ||||||||
| 204,396,204 | ||||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Technology — 27.8% | ||||||||
| Computers — 8.5% | ||||||||
| Accenture PLC Class A | 41,602 | $ | 14,598,558 | |||||
| Apple, Inc. | 969,653 | 186,687,292 | ||||||
| Cognizant Technology Solutions Corp. Class A | 33,483 | 2,528,971 | ||||||
| EPAM Systems, Inc. (b) | 3,869 | 1,150,408 | ||||||
| Fortinet, Inc. (b) | 42,250 | 2,472,892 | ||||||
| Hewlett Packard Enterprise Co. | 85,419 | 1,450,415 | ||||||
| HP, Inc. | 57,295 | 1,724,007 | ||||||
| International Business Machines Corp. | 60,518 | 9,897,719 | ||||||
| Leidos Holdings, Inc. | 9,280 | 1,004,467 | ||||||
| NetApp, Inc. | 13,812 | 1,217,666 | ||||||
| Seagate Technology Holdings PLC | 13,009 | 1,110,578 | ||||||
| Western Digital Corp. (b) | 21,607 | 1,131,559 | ||||||
| 224,974,532 | ||||||||
| Office & Business Equipment — 0.0% | ||||||||
| Zebra Technologies Corp. Class A (b) | 3,475 | 949,822 | ||||||
| Semiconductors — 8.0% | ||||||||
| Advanced Micro Devices, Inc. (b) | 107,105 | 15,788,348 | ||||||
| Analog Devices, Inc. | 33,049 | 6,562,210 | ||||||
| Applied Materials, Inc. | 55,548 | 9,002,664 | ||||||
| Broadcom, Inc. | 29,116 | 32,500,735 | ||||||
| Intel Corp. | 279,589 | 14,049,347 | ||||||
| KLA Corp. | 9,036 | 5,252,627 | ||||||
| Lam Research Corp. | 8,750 | 6,853,525 | ||||||
| Microchip Technology, Inc. | 35,729 | 3,222,041 | ||||||
| Micron Technology, Inc. | 72,744 | 6,207,973 | ||||||
| Monolithic Power Systems, Inc. | 3,167 | 1,997,680 | ||||||
| NVIDIA Corp. | 163,833 | 81,133,378 | ||||||
| NXP Semiconductors NV | 17,087 | 3,924,542 | ||||||
| ON Semiconductor Corp. (b) | 28,543 | 2,384,197 | ||||||
| Qorvo, Inc. (b) | 6,314 | 711,020 | ||||||
| QUALCOMM, Inc. | 73,766 | 10,668,777 | ||||||
| Skyworks Solutions, Inc. | 10,508 | 1,181,309 | ||||||
| Teradyne, Inc. | 10,094 | 1,095,401 | ||||||
| Texas Instruments, Inc. | 60,146 | 10,252,487 | ||||||
| 212,788,261 | ||||||||
| Software — 11.3% | ||||||||
| Adobe, Inc. (b) | 30,189 | 18,010,757 | ||||||
| Akamai Technologies, Inc. (b) | 9,939 | 1,176,281 | ||||||
| ANSYS, Inc. (b) | 5,782 | 2,098,172 | ||||||
| Autodesk, Inc. (b) | 14,141 | 3,443,051 | ||||||
| Broadridge Financial Solutions, Inc. | 7,713 | 1,586,950 | ||||||
| Cadence Design Systems, Inc. (b) | 18,090 | 4,927,173 | ||||||
| Ceridian HCM Holding, Inc. (b) | 10,326 | 693,081 | ||||||
| Electronic Arts, Inc. | 16,174 | 2,212,765 | ||||||
| Fair Isaac Corp. (b) | 1,649 | 1,919,453 | ||||||
| Fidelity National Information Services, Inc. | 39,557 | 2,376,189 | ||||||
| Fiserv, Inc. (b) | 39,744 | 5,279,593 | ||||||
| Intuit, Inc. | 18,602 | 11,626,808 | ||||||
| Jack Henry & Associates, Inc. | 4,920 | 803,977 | ||||||
| Microsoft Corp. | 492,936 | 185,363,653 | ||||||
| MSCI, Inc. | 5,245 | 2,966,834 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Oracle Corp. | 105,401 | $ | 11,112,427 | |||||
| Paychex, Inc. | 21,208 | 2,526,085 | ||||||
| Paycom Software, Inc. | 3,199 | 661,297 | ||||||
| PTC, Inc. (b) | 7,835 | 1,370,812 | ||||||
| Roper Technologies, Inc. | 7,113 | 3,877,794 | ||||||
| Salesforce, Inc. (b) | 64,491 | 16,970,162 | ||||||
| ServiceNow, Inc. (b) | 13,595 | 9,604,732 | ||||||
| Synopsys, Inc. (b) | 10,087 | 5,193,897 | ||||||
| Take-Two Interactive Software, Inc. (b) | 10,469 | 1,684,986 | ||||||
| Tyler Technologies, Inc. (b) | 2,829 | 1,182,861 | ||||||
| 298,669,790 | ||||||||
| 737,382,405 | ||||||||
| Utilities — 2.4% | ||||||||
| Electric — 2.2% | ||||||||
| AES Corp. | 43,854 | 844,190 | ||||||
| Alliant Energy Corp. | 16,949 | 869,484 | ||||||
| Ameren Corp. | 17,440 | 1,261,610 | ||||||
| American Electric Power Co., Inc. | 34,811 | 2,827,349 | ||||||
| CenterPoint Energy, Inc. | 41,752 | 1,192,855 | ||||||
| CMS Energy Corp. | 19,307 | 1,121,158 | ||||||
| Consolidated Edison, Inc. | 22,919 | 2,084,941 | ||||||
| Constellation Energy Corp. | 21,335 | 2,493,848 | ||||||
| Dominion Energy, Inc. | 55,625 | 2,614,375 | ||||||
| DTE Energy Co. | 13,721 | 1,512,878 | ||||||
| Duke Energy Corp. | 51,028 | 4,951,757 | ||||||
| Edison International | 25,456 | 1,819,849 | ||||||
| Entergy Corp. | 14,026 | 1,419,291 | ||||||
| Evergy, Inc. | 15,025 | 784,305 | ||||||
| Eversource Energy | 23,147 | 1,428,633 | ||||||
| Exelon Corp. | 66,017 | 2,370,010 | ||||||
| FirstEnergy Corp. | 34,226 | 1,254,725 | ||||||
| NextEra Energy, Inc. | 136,013 | 8,261,430 | ||||||
| NRG Energy, Inc. | 14,981 | 774,518 | ||||||
| PG&E Corp. | 141,905 | 2,558,547 | ||||||
| Pinnacle West Capital Corp. | 7,501 | 538,872 | ||||||
| PPL Corp. | 48,834 | 1,323,401 | ||||||
| Public Service Enterprise Group, Inc. | 32,849 | 2,008,716 | ||||||
| Sempra | 41,495 | 3,100,921 | ||||||
| Southern Co. | 72,117 | 5,056,844 | ||||||
| WEC Energy Group, Inc. | 20,985 | 1,766,307 | ||||||
| Xcel Energy, Inc. | 36,549 | 2,262,749 | ||||||
| 58,503,563 | ||||||||
| Gas — 0.1% | ||||||||
| Atmos Energy Corp. | 9,919 | 1,149,612 | ||||||
| NiSource, Inc. | 26,946 | 715,416 | ||||||
| 1,865,028 | ||||||||
| Water — 0.1% | ||||||||
| American Water Works Co., Inc. | 13,004 | 1,716,398 | ||||||
| MM S&P 500 Index Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| $ | 62,084,989 | |||||||
| TOTAL COMMON STOCK (Cost $1,375,379,127) | 2,655,450,556 | |||||||
| TOTAL EQUITIES (Cost $1,375,379,127) | 2,655,450,556 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,375,379,127) | 2,655,450,556 | |||||||
| SHORT-TERM INVESTMENTS — 0.2% | ||||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (c) | $ | 5,402,390 | 5,402,390 | |||||
| U.S. Treasury Bill — 0.0% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.327% 4/11/24 (d) (e) | 55,000 | 54,207 | ||||||
| 5.335% 4/11/24 (d) (e) | 55,000 | 54,207 | ||||||
| 5.341% 4/11/24 (d) (e) | 15,000 | 14,784 | ||||||
| 5.344% 4/11/24 (d) (e) | 10,000 | 9,856 | ||||||
| 5.348% 4/11/24 (d) (e) | 40,000 | 39,424 | ||||||
| 5.352% 4/11/24 (d) (e) | 70,000 | 68,991 | ||||||
| 5.359% 4/11/24 (d) (e) | 35,000 | 34,496 | ||||||
| 5.376% 4/11/24 (d) (e) | 50,000 | 49,280 | ||||||
| 5.389% 4/11/24 (d) (e) | 20,000 | 19,712 | ||||||
| 5.397% 4/11/24 (d) (e) | 10,000 | 9,856 | ||||||
| 5.437% 4/11/24 (d) (e) | 20,000 | 19,712 | ||||||
| 5.517% 4/11/24 (d) (e) | 25,000 | 24,640 | ||||||
| 5.524% 4/11/24 (d) (e) | 30,000 | 29,568 | ||||||
| 5.524% 4/11/24 (d) (e) | 25,000 | 24,640 | ||||||
| 5.570% 4/11/24 (d) (e) | 5,000 | 4,928 | ||||||
| 458,301 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,860,454) | 5,860,691 | |||||||
| TOTAL INVESTMENTS — 100.4% (Cost $1,381,239,581) (f) | 2,661,311,247 | |||||||
| Other Assets/(Liabilities) — (0.4)% | (11,338,066) | |||||||
| NET ASSETS — 100.0% | $ | 2,649,973,181 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $814,498 or 0.03% of net assets. The Fund received $835,555 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) | Maturity value of $5,403,350. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $5,510,509. |
| (d) | The rate shown represents yield-to-maturity. |
| (e) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| S&P 500 E Mini Index | 3/15/24 | 38 | $ | 9,023,241 | $ | 134,759 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.6% | ||||||||
| COMMON STOCK — 98.1% | ||||||||
| Basic Materials — 4.3% | ||||||||
| Chemicals — 3.9% | ||||||||
| CF Industries Holdings, Inc. | 68,500 | $ | 5,445,750 | |||||
| Linde PLC (LIN US) | 47,236 | 19,400,297 | ||||||
| 24,846,047 | ||||||||
| Forest Products & Paper — 0.4% | ||||||||
| International Paper Co. | 74,300 | 2,685,945 | ||||||
| 27,531,992 | ||||||||
| Communications — 1.5% | ||||||||
| Media — 1.5% | ||||||||
| News Corp. Class A | 226,843 | 5,568,996 | ||||||
| News Corp. Class B | 58,800 | 1,512,336 | ||||||
| Walt Disney Co. | 28,300 | 2,555,207 | ||||||
| 9,636,539 | ||||||||
| 9,636,539 | ||||||||
| Consumer, Cyclical — 10.1% | ||||||||
| Apparel — 3.2% | ||||||||
| NIKE, Inc. Class B | 188,583 | 20,474,456 | ||||||
| Lodging — 0.5% | ||||||||
| Las Vegas Sands Corp. | 62,000 | 3,051,020 | ||||||
| Retail — 6.4% | ||||||||
| McDonald's Corp. | 57,945 | 17,181,272 | ||||||
| TJX Cos., Inc. | 247,222 | 23,191,896 | ||||||
| 40,373,168 | ||||||||
| 63,898,644 | ||||||||
| Consumer, Non-cyclical — 29.8% | ||||||||
| Agriculture — 0.7% | ||||||||
| Philip Morris International, Inc. | 50,100 | 4,713,408 | ||||||
| Beverages — 3.9% | ||||||||
| Coca-Cola Co. | 120,391 | 7,094,641 | ||||||
| PepsiCo, Inc. | 102,120 | 17,344,061 | ||||||
| 24,438,702 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Cosmetics & Personal Care — 6.0% | ||||||||
| Colgate-Palmolive Co. | 236,553 | $ | 18,855,640 | |||||
| Kenvue, Inc. | 123,900 | 2,667,567 | ||||||
| Procter & Gamble Co. | 112,552 | 16,493,370 | ||||||
| 38,016,577 | ||||||||
| Food — 0.5% | ||||||||
| Conagra Brands, Inc. | 113,100 | 3,241,446 | ||||||
| Health Care – Products — 8.6% | ||||||||
| Danaher Corp. | 97,625 | 22,584,568 | ||||||
| Medtronic PLC | 132,535 | 10,918,233 | ||||||
| Stryker Corp. | 56,776 | 17,002,141 | ||||||
| Zimmer Biomet Holdings, Inc. | 31,600 | 3,845,720 | ||||||
| 54,350,662 | ||||||||
| Health Care – Services — 5.2% | ||||||||
| Elevance Health, Inc. | 19,380 | 9,138,833 | ||||||
| UnitedHealth Group, Inc. | 44,574 | 23,466,874 | ||||||
| 32,605,707 | ||||||||
| Household Products & Wares — 0.5% | ||||||||
| Kimberly-Clark Corp. | 28,100 | 3,414,431 | ||||||
| Pharmaceuticals — 4.4% | ||||||||
| AbbVie, Inc. | 13,100 | 2,030,107 | ||||||
| Becton Dickinson & Co. | 23,800 | 5,803,154 | ||||||
| Johnson & Johnson | 95,126 | 14,910,049 | ||||||
| Sanofi SA ADR | 60,800 | 3,023,584 | ||||||
| Viatris, Inc. | 191,400 | 2,072,862 | ||||||
| 27,839,756 | ||||||||
| 188,620,689 | ||||||||
| Energy — 2.6% | ||||||||
| Oil & Gas — 2.6% | ||||||||
| ConocoPhillips | 17,400 | 2,019,618 | ||||||
| EOG Resources, Inc. | 30,700 | 3,713,165 | ||||||
| TotalEnergies SE | 125,600 | 8,531,814 | ||||||
| TotalEnergies SE Sponsored ADR (a) | 35,200 | 2,371,776 | ||||||
| 16,636,373 | ||||||||
| 16,636,373 | ||||||||
| Financial — 23.3% | ||||||||
| Banks — 3.5% | ||||||||
| Fifth Third Bancorp | 200,700 | 6,922,143 | ||||||
| US Bancorp | 139,400 | 6,033,232 | ||||||
| Wells Fargo & Co. | 181,300 | 8,923,586 | ||||||
| 21,878,961 | ||||||||
| Diversified Financial Services — 7.2% | ||||||||
| American Express Co. | 104,148 | 19,511,086 | ||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Charles Schwab Corp. | 63,700 | $ | 4,382,560 | |||||
| Visa, Inc. Class A | 82,746 | 21,542,921 | ||||||
| 45,436,567 | ||||||||
| Insurance — 8.5% | ||||||||
| American International Group, Inc. | 92,300 | 6,253,325 | ||||||
| Chubb Ltd. | 113,924 | 25,746,824 | ||||||
| Equitable Holdings, Inc. | 120,700 | 4,019,310 | ||||||
| Marsh & McLennan Cos., Inc. | 95,955 | 18,180,594 | ||||||
| 54,200,053 | ||||||||
| Real Estate Investment Trusts (REITS) — 4.1% | ||||||||
| American Tower Corp. | 80,011 | 17,272,775 | ||||||
| Equity Residential | 68,200 | 4,171,112 | ||||||
| Weyerhaeuser Co. | 125,500 | 4,363,635 | ||||||
| 25,807,522 | ||||||||
| 147,323,103 | ||||||||
| Industrial — 13.9% | ||||||||
| Aerospace & Defense — 6.5% | ||||||||
| Boeing Co. (b) | 19,900 | 5,187,134 | ||||||
| L3 Harris Technologies, Inc. | 29,600 | 6,234,352 | ||||||
| Lockheed Martin Corp. | 16,737 | 7,585,877 | ||||||
| Northrop Grumman Corp. | 47,985 | 22,463,698 | ||||||
| 41,471,061 | ||||||||
| Electronics — 3.2% | ||||||||
| Honeywell International, Inc. | 97,676 | 20,483,634 | ||||||
| Hand & Machine Tools — 0.8% | ||||||||
| Stanley Black & Decker, Inc. | 48,700 | 4,777,470 | ||||||
| Miscellaneous - Manufacturing — 1.0% | ||||||||
| General Electric Co. | 50,000 | 6,381,500 | ||||||
| Transportation — 2.4% | ||||||||
| Norfolk Southern Corp. | 24,700 | 5,838,586 | ||||||
| Union Pacific Corp. | 37,169 | 9,129,450 | ||||||
| 14,968,036 | ||||||||
| 88,081,701 | ||||||||
| Technology — 10.7% | ||||||||
| Computers — 2.8% | ||||||||
| Accenture PLC Class A | 50,434 | 17,697,795 | ||||||
| Semiconductors — 4.0% | ||||||||
| QUALCOMM, Inc. | 64,200 | 9,285,246 | ||||||
| Samsung Electronics Co. Ltd. | 52,000 | 3,162,636 | ||||||
| Texas Instruments, Inc. | 75,631 | 12,892,060 | ||||||
| 25,339,942 | ||||||||
| MassMutual Equity Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Software — 3.9% | ||||||||
| Microsoft Corp. | 66,321 | $ | 24,939,349 | |||||
| 67,977,086 | ||||||||
| Utilities — 1.9% | ||||||||
| Electric — 1.9% | ||||||||
| Dominion Energy, Inc. | 91,800 | 4,314,600 | ||||||
| Southern Co. | 108,700 | 7,622,044 | ||||||
| 11,936,644 | ||||||||
| TOTAL COMMON STOCK (Cost $498,755,481) | 621,642,771 | |||||||
| PREFERRED STOCK — 0.5% | ||||||||
| Consumer, Cyclical — 0.5% | ||||||||
| Auto Manufacturers — 0.5% | ||||||||
| Dr Ing hc F Porsche AG 1.262% (c) | 21,800 | 1,922,458 | ||||||
| Volkswagen AG 7.837% | 12,300 | 1,518,277 | ||||||
| 3,440,735 | ||||||||
| TOTAL PREFERRED STOCK (Cost $4,320,755) | 3,440,735 | |||||||
| TOTAL EQUITIES (Cost $503,076,236) | 625,083,506 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $503,076,236) | 625,083,506 | |||||||
| SHORT-TERM INVESTMENTS — 2.8% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (d) | 368,156 | 368,156 | ||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 167 | 167 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 2.7% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (e) | $ | 17,249,920 | 17,249,920 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $17,618,243) | 17,618,243 | |||||||
| TOTAL INVESTMENTS — 101.4% (Cost $520,694,479) (f) | 642,701,749 | |||||||
| Other Assets/(Liabilities) — (1.4)% | (8,899,466) | |||||||
| NET ASSETS — 100.0% | $ | 633,802,283 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $2,334,491 or 0.37% of net assets. The Fund received $2,026,336 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 December 31, 2023, the aggregate market value of these securities amounted to $1,922,458 or 0.30% of net assets. |
| (d) | Represents investment of security lending cash collateral. (Note 2). |
| (e) | Maturity value of $17,252,987. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $17,595,072. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Fundamental Growth Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 101.5% | ||||||||
| COMMON STOCK — 101.5% | ||||||||
| Basic Materials — 0.7% | ||||||||
| Chemicals — 0.7% | ||||||||
| Celanese Corp. | 1,210 | $ | 187,998 | |||||
| Communications — 5.4% | ||||||||
| Internet — 4.8% | ||||||||
| CDW Corp. | 4,538 | 1,031,578 | ||||||
| Palo Alto Networks, Inc. (a) | 785 | 231,481 | ||||||
| 1,263,059 | ||||||||
| Telecommunications — 0.6% | ||||||||
| Nice Ltd. Sponsored ADR (a) (b) | 850 | 169,583 | ||||||
| 1,432,642 | ||||||||
| Consumer, Cyclical — 12.2% | ||||||||
| Apparel — 0.5% | ||||||||
| Tapestry, Inc. | 3,390 | 124,786 | ||||||
| Auto Parts & Equipment — 0.6% | ||||||||
| Aptiv PLC (a) | 1,680 | 150,730 | ||||||
| Distribution & Wholesale — 2.0% | ||||||||
| Copart, Inc. (a) | 6,280 | 307,720 | ||||||
| Watsco, Inc. | 556 | 238,229 | ||||||
| 545,949 | ||||||||
| Entertainment — 2.3% | ||||||||
| DraftKings, Inc. Class A (a) | 13,238 | 466,639 | ||||||
| Live Nation Entertainment, Inc. (a) | 1,450 | 135,720 | ||||||
| 602,359 | ||||||||
| Lodging — 0.9% | ||||||||
| Hilton Worldwide Holdings, Inc. | 1,340 | 244,001 | ||||||
| Retail — 5.9% | ||||||||
| Chipotle Mexican Grill, Inc. (a) | 94 | 214,974 | ||||||
| Freshpet, Inc. (a) | 4,093 | 355,109 | ||||||
| Lululemon Athletica, Inc. (a) | 289 | 147,763 | ||||||
| Ross Stores, Inc. | 6,152 | 851,375 | ||||||
| 1,569,221 | ||||||||
| 3,237,046 | ||||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Consumer, Non-cyclical — 30.6% | ||||||||
| Beverages — 2.1% | ||||||||
| Celsius Holdings, Inc. (a) (b) | 4,503 | $ | 245,504 | |||||
| Constellation Brands, Inc. Class A | 1,240 | 299,770 | ||||||
| 545,274 | ||||||||
| Biotechnology — 1.8% | ||||||||
| Alnylam Pharmaceuticals, Inc. (a) | 1,621 | 310,276 | ||||||
| Legend Biotech Corp. ADR (a) | 2,960 | 178,103 | ||||||
| 488,379 | ||||||||
| Commercial Services — 7.4% | ||||||||
| CoStar Group, Inc. (a) | 6,792 | 593,553 | ||||||
| Gartner, Inc. (a) | 1,594 | 719,069 | ||||||
| Global Payments, Inc. | 1,970 | 250,190 | ||||||
| TransUnion | 5,759 | 395,701 | ||||||
| 1,958,513 | ||||||||
| Cosmetics & Personal Care — 0.8% | ||||||||
| elf Beauty, Inc. (a) | 1,492 | 215,355 | ||||||
| Health Care – Products — 11.3% | ||||||||
| Align Technology, Inc. (a) | 1,855 | 508,270 | ||||||
| Avantor, Inc. (a) | 9,540 | 217,798 | ||||||
| Cooper Cos., Inc. | 598 | 226,307 | ||||||
| Exact Sciences Corp. (a) | 4,693 | 347,188 | ||||||
| GE HealthCare Technologies, Inc. (a) | 2,780 | 214,950 | ||||||
| IDEXX Laboratories, Inc. (a) | 551 | 305,833 | ||||||
| Inspire Medical Systems, Inc. (a) (b) | 1,686 | 342,983 | ||||||
| Insulet Corp. (a) | 1,135 | 246,272 | ||||||
| Masimo Corp. (a) (b) | 1,100 | 128,931 | ||||||
| Repligen Corp. (a) | 2,475 | 445,005 | ||||||
| 2,983,537 | ||||||||
| Health Care – Services — 4.4% | ||||||||
| ICON PLC (a) | 2,775 | 785,519 | ||||||
| Molina Healthcare, Inc. (a) | 1,084 | 391,660 | ||||||
| 1,177,179 | ||||||||
| Pharmaceuticals — 2.8% | ||||||||
| Ascendis Pharma AS ADR (a) | 2,680 | 337,546 | ||||||
| Dexcom, Inc. (a) | 3,300 | 409,497 | ||||||
| 747,043 | ||||||||
| 8,115,280 | ||||||||
| Energy — 3.7% | ||||||||
| Energy – Alternate Sources — 0.5% | ||||||||
| Enphase Energy, Inc. (a) | 1,080 | 142,711 | ||||||
| Oil & Gas — 1.2% | ||||||||
| Devon Energy Corp. | 3,670 | 166,251 | ||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Diamondback Energy, Inc. | 950 | $ | 147,326 | |||||
| 313,577 | ||||||||
| Oil & Gas Services — 0.5% | ||||||||
| Halliburton Co. | 3,350 | 121,102 | ||||||
| Pipelines — 1.5% | ||||||||
| Cheniere Energy, Inc. | 2,360 | 402,876 | ||||||
| 980,266 | ||||||||
| Financial — 6.5% | ||||||||
| Diversified Financial Services — 3.0% | ||||||||
| Ameriprise Financial, Inc. | 346 | 131,421 | ||||||
| Ares Management Corp. Class A | 5,608 | 666,904 | ||||||
| 798,325 | ||||||||
| Insurance — 1.6% | ||||||||
| American International Group, Inc. | 3,670 | 248,642 | ||||||
| Arthur J Gallagher & Co. | 760 | 170,909 | ||||||
| 419,551 | ||||||||
| Real Estate Investment Trusts (REITS) — 1.9% | ||||||||
| SBA Communications Corp. | 1,949 | 494,442 | ||||||
| 1,712,318 | ||||||||
| Industrial — 16.1% | ||||||||
| Aerospace & Defense — 2.9% | ||||||||
| Hexcel Corp. | 4,481 | 330,474 | ||||||
| TransDigm Group, Inc. | 447 | 452,185 | ||||||
| 782,659 | ||||||||
| Building Materials — 3.6% | ||||||||
| Builders FirstSource, Inc. (a) | 4,216 | 703,819 | ||||||
| Vulcan Materials Co. | 1,100 | 249,711 | ||||||
| 953,530 | ||||||||
| Electrical Components & Equipment — 0.9% | ||||||||
| AMETEK, Inc. | 1,430 | 235,793 | ||||||
| Environmental Controls — 2.4% | ||||||||
| Clean Harbors, Inc. (a) | 2,523 | 440,289 | ||||||
| Waste Connections, Inc. | 1,310 | 195,543 | ||||||
| 635,832 | ||||||||
| Machinery – Construction & Mining — 2.1% | ||||||||
| BWX Technologies, Inc. | 7,228 | 554,604 | ||||||
| Machinery – Diversified — 1.3% | ||||||||
| Rockwell Automation, Inc. | 1,070 | 332,214 | ||||||
| Miscellaneous - Manufacturing — 2.0% | ||||||||
| Axon Enterprise, Inc. (a) | 2,107 | 544,301 | ||||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Transportation — 0.9% | ||||||||
| JB Hunt Transport Services, Inc. | 1,200 | $ | 239,688 | |||||
| 4,278,621 | ||||||||
| Technology — 26.3% | ||||||||
| Computers — 2.3% | ||||||||
| Genpact Ltd. | 4,840 | 167,997 | ||||||
| Western Digital Corp. (a) | 3,190 | 167,060 | ||||||
| Zscaler, Inc. (a) | 1,230 | 272,519 | ||||||
| 607,576 | ||||||||
| Office & Business Equipment — 0.5% | ||||||||
| Zebra Technologies Corp. Class A (a) | 490 | 133,932 | ||||||
| Semiconductors — 4.0% | ||||||||
| KLA Corp. | 576 | 334,829 | ||||||
| Marvell Technology, Inc. | 3,200 | 192,992 | ||||||
| Microchip Technology, Inc. | 1,730 | 156,011 | ||||||
| MKS Instruments, Inc. | 1,360 | 139,903 | ||||||
| Silicon Laboratories, Inc. (a) | 1,807 | 239,012 | ||||||
| 1,062,747 | ||||||||
| Software — 19.5% | ||||||||
| Aspen Technology, Inc. (a) | 1,937 | 426,431 | ||||||
| Ceridian HCM Holding, Inc. (a) | 7,854 | 527,160 | ||||||
| Datadog, Inc. Class A (a) | 1,760 | 213,629 | ||||||
| Fair Isaac Corp. (a) | 262 | 304,971 | ||||||
| HubSpot, Inc. (a) | 1,301 | 755,282 | ||||||
| MongoDB, Inc. (a) | 1,305 | 533,549 | ||||||
| MSCI, Inc. | 1,452 | 821,324 | ||||||
| Procore Technologies, Inc. (a) | 3,010 | 208,352 | ||||||
| PTC, Inc. (a) | 2,629 | 459,970 | ||||||
| Take-Two Interactive Software, Inc. (a) | 1,642 | 264,280 | ||||||
| Veeva Systems, Inc. Class A (a) | 1,820 | 350,386 | ||||||
| ZoomInfo Technologies, Inc. (a) | 17,498 | 323,538 | ||||||
| 5,188,872 | ||||||||
| 6,993,127 | ||||||||
| TOTAL COMMON STOCK (Cost $22,722,190) | 26,937,298 | |||||||
| TOTAL EQUITIES (Cost $22,722,190) | 26,937,298 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $22,722,190) | 26,937,298 | |||||||
| SHORT-TERM INVESTMENTS — 0.7% | ||||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.7% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (c) | $ | 190,424 | 190,424 | |||||
| MassMutual Fundamental Growth Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $190,424) | $ | 190,424 | ||||||
| TOTAL INVESTMENTS — 102.2% (Cost $22,912,614) (d) | 27,127,722 | |||||||
| Other Assets/(Liabilities) — (2.2)% | (586,396) | |||||||
| NET ASSETS — 100.0% | $ | 26,541,326 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $757,843 or 2.86% of net assets. The Fund received $773,970 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 $190,458. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $194,267. |
| (d) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Blue Chip Growth Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.8% | ||||||||
| COMMON STOCK — 98.6% | ||||||||
| Basic Materials — 0.5% | ||||||||
| Chemicals — 0.5% | ||||||||
| Linde PLC | 14,822 | $ | 6,087,543 | |||||
| Sherwin-Williams Co. | 19,741 | 6,157,218 | ||||||
| 12,244,761 | ||||||||
| Communications — 27.9% | ||||||||
| Internet — 25.4% | ||||||||
| Alibaba Group Holding Ltd. Sponsored ADR | 108,008 | 8,371,700 | ||||||
| Alphabet, Inc. Class A (a) | 594,565 | 83,054,785 | ||||||
| Alphabet, Inc. Class C (a) | 608,660 | 85,778,454 | ||||||
| Amazon.com, Inc. (a) | 1,075,284 | 163,378,651 | ||||||
| Booking Holdings, Inc. (a) | 3,494 | 12,393,987 | ||||||
| DoorDash, Inc., Class A (a) | 35,304 | 3,491,213 | ||||||
| Meta Platforms, Inc. Class A (a) | 408,943 | 144,749,464 | ||||||
| Netflix, Inc. (a) | 132,354 | 64,440,515 | ||||||
| Sea Ltd. ADR (a) | 57,698 | 2,336,769 | ||||||
| Shopify, Inc. Class A (a) | 383,700 | 29,890,230 | ||||||
| 597,885,768 | ||||||||
| Media — 1.9% | ||||||||
| FactSet Research Systems, Inc. | 34,359 | 16,390,961 | ||||||
| Walt Disney Co. | 316,488 | 28,575,701 | ||||||
| 44,966,662 | ||||||||
| Telecommunications — 0.6% | ||||||||
| T-Mobile US, Inc. | 82,966 | 13,301,939 | ||||||
| 656,154,369 | ||||||||
| Consumer, Cyclical — 7.2% | ||||||||
| Apparel — 0.1% | ||||||||
| NIKE, Inc. Class B | 35,040 | 3,804,293 | ||||||
| Auto Manufacturers — 3.7% | ||||||||
| Tesla, Inc. (a) | 347,207 | 86,273,995 | ||||||
| Retail — 3.4% | ||||||||
| Carvana Co. (a) (b) | 68,527 | 3,627,819 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 5,443 | 12,447,923 | ||||||
| Dollar General Corp. | 61,673 | 8,384,444 | ||||||
| Lululemon Athletica, Inc. (a) | 13,451 | 6,877,362 | ||||||
| Ross Stores, Inc. | 61,251 | 8,476,526 | ||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Starbucks Corp. | 184,081 | $ | 17,673,617 | |||||
| TJX Cos., Inc. | 61,920 | 5,808,715 | ||||||
| Yum China Holdings, Inc. (YUMC US) | 105,595 | 4,480,396 | ||||||
| Yum! Brands, Inc. | 90,245 | 11,791,412 | ||||||
| 79,568,214 | ||||||||
| 169,646,502 | ||||||||
| Consumer, Non-cyclical — 15.8% | ||||||||
| Beverages — 1.3% | ||||||||
| Monster Beverage Corp. (a) | 543,611 | 31,317,430 | ||||||
| Biotechnology — 2.7% | ||||||||
| Illumina, Inc. (a) | 96,897 | 13,491,938 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 25,728 | 22,596,645 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 69,178 | 28,147,837 | ||||||
| 64,236,420 | ||||||||
| Commercial Services — 1.5% | ||||||||
| Adyen NV ADR (a) (b) | 237,942 | 3,064,693 | ||||||
| Ant Group Balance Owed 2023 (Acquired 8/14/23, Cost $423,859) (a) (c) (d) (e) | 1,214,643 | 1,189,378 | ||||||
| Block, Inc. (a) | 165,775 | 12,822,696 | ||||||
| Cintas Corp. | 4,131 | 2,489,589 | ||||||
| PayPal Holdings, Inc. (a) | 150,367 | 9,234,038 | ||||||
| S&P Global, Inc. | 16,166 | 7,121,446 | ||||||
| 35,921,840 | ||||||||
| Cosmetics & Personal Care — 0.3% | ||||||||
| Colgate-Palmolive Co. | 39,270 | 3,130,212 | ||||||
| Procter & Gamble Co. | 20,479 | 3,000,992 | ||||||
| 6,131,204 | ||||||||
| Food — 0.2% | ||||||||
| Mondelez International, Inc. Class A | 50,150 | 3,632,365 | ||||||
| Health Care – Products — 3.4% | ||||||||
| Align Technology, Inc. (a) | 3,154 | 864,196 | ||||||
| Danaher Corp. | 35,624 | 8,241,256 | ||||||
| Intuitive Surgical, Inc. (a) | 97,440 | 32,872,358 | ||||||
| Stryker Corp. | 25,059 | 7,504,168 | ||||||
| Teleflex, Inc. | 7,349 | 1,832,400 | ||||||
| Thermo Fisher Scientific, Inc. | 56,187 | 29,823,498 | ||||||
| 81,137,876 | ||||||||
| Health Care – Services — 2.4% | ||||||||
| Elevance Health, Inc. | 11,767 | 5,548,847 | ||||||
| Humana, Inc. | 17,278 | 7,910,041 | ||||||
| UnitedHealth Group, Inc. | 80,358 | 42,306,076 | ||||||
| 55,764,964 | ||||||||
| Pharmaceuticals — 4.0% | ||||||||
| AstraZeneca PLC Sponsored ADR | 46,386 | 3,124,097 | ||||||
| Eli Lilly & Co. | 66,414 | 38,714,049 | ||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Novartis AG Sponsored ADR | 130,411 | $ | 13,167,599 | |||||
| Novo Nordisk AS Sponsored ADR | 196,039 | 20,280,234 | ||||||
| Roche Holding AG Sponsored ADR (b) | 296,660 | 10,747,992 | ||||||
| Sandoz Group AG ADR (a) (b) | 26,082 | 834,885 | ||||||
| Zoetis, Inc. | 38,988 | 7,695,061 | ||||||
| 94,563,917 | ||||||||
| 372,706,016 | ||||||||
| Energy — 0.2% | ||||||||
| Oil & Gas Services — 0.2% | ||||||||
| Schlumberger NV | 80,877 | 4,208,839 | ||||||
| Financial — 7.7% | ||||||||
| Banks — 0.4% | ||||||||
| Goldman Sachs Group, Inc. | 9,223 | 3,557,957 | ||||||
| Morgan Stanley | 66,261 | 6,178,838 | ||||||
| 9,736,795 | ||||||||
| Diversified Financial Services — 6.4% | ||||||||
| Charles Schwab Corp. | 72,844 | 5,011,667 | ||||||
| Mastercard, Inc. Class A | 80,027 | 34,132,316 | ||||||
| SEI Investments Co. | 195,723 | 12,438,197 | ||||||
| Visa, Inc. Class A (b) | 381,413 | 99,300,874 | ||||||
| 150,883,054 | ||||||||
| Insurance — 0.9% | ||||||||
| Chubb Ltd. | 59,426 | 13,430,276 | ||||||
| Marsh & McLennan Cos., Inc. | 41,901 | 7,938,983 | ||||||
| 21,369,259 | ||||||||
| 181,989,108 | ||||||||
| Industrial — 4.3% | ||||||||
| Aerospace & Defense — 2.7% | ||||||||
| Boeing Co. (a) | 225,947 | 58,895,345 | ||||||
| TransDigm Group, Inc. | 3,391 | 3,430,336 | ||||||
| 62,325,681 | ||||||||
| Electronics — 0.1% | ||||||||
| TE Connectivity Ltd. | 16,370 | 2,299,985 | ||||||
| Environmental Controls — 0.0% | ||||||||
| Veralto Corp. | 12,429 | 1,022,409 | ||||||
| Machinery – Diversified — 0.3% | ||||||||
| Deere & Co. | 16,081 | 6,430,309 | ||||||
| Miscellaneous - Manufacturing — 0.3% | ||||||||
| General Electric Co. | 53,741 | 6,858,964 | ||||||
| Transportation — 0.9% | ||||||||
| Expeditors International of Washington, Inc. | 130,402 | 16,587,134 | ||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Old Dominion Freight Line, Inc. | 12,308 | $ | 4,988,802 | |||||
| 21,575,936 | ||||||||
| 100,513,284 | ||||||||
| Technology — 34.7% | ||||||||
| Computers — 5.8% | ||||||||
| Apple, Inc. | 687,480 | 132,360,525 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 11,448 | 2,922,903 | ||||||
| Fortinet, Inc. (a) | 16,745 | 980,085 | ||||||
| 136,263,513 | ||||||||
| Semiconductors — 9.3% | ||||||||
| Advanced Micro Devices, Inc. (a) | 61,404 | 9,051,564 | ||||||
| ASML Holding NV (b) | 19,861 | 15,033,188 | ||||||
| Lam Research Corp. | 2,664 | 2,086,605 | ||||||
| Monolithic Power Systems, Inc. | 12,551 | 7,916,920 | ||||||
| NVIDIA Corp. | 320,879 | 158,905,698 | ||||||
| QUALCOMM, Inc. | 126,232 | 18,256,934 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | 43,281 | 4,501,224 | ||||||
| Texas Instruments, Inc. | 17,524 | 2,987,141 | ||||||
| 218,739,274 | ||||||||
| Software — 19.6% | ||||||||
| Atlassian Corp. Class A (a) | 20,487 | 4,873,038 | ||||||
| Autodesk, Inc. (a) | 131,510 | 32,020,055 | ||||||
| Bill Holdings, Inc. (a) | 34,671 | 2,828,807 | ||||||
| Canva, Inc. (Acquired 8/16/21-12/17/21, Cost $2,302,739) (a) (c) (d) (e) | 1,351 | 1,441,059 | ||||||
| Confluent, Inc. Class A (a) | 66,175 | 1,548,495 | ||||||
| Datadog, Inc. Class A (a) | 22,090 | 2,681,284 | ||||||
| Fiserv, Inc. (a) | 21,365 | 2,838,127 | ||||||
| Gusto, Inc. (Acquired 10/04/21, Cost $765,943) (a) (c) (d) (e) | 26,606 | 409,200 | ||||||
| Intuit, Inc. | 24,824 | 15,515,745 | ||||||
| Microsoft Corp. | 628,969 | 236,517,503 | ||||||
| MongoDB, Inc. (a) | 18,631 | 7,617,284 | ||||||
| MSCI, Inc. | 2,525 | 1,428,266 | ||||||
| Oracle Corp. | 395,389 | 41,685,862 | ||||||
| Roper Technologies, Inc. | 17,743 | 9,672,951 | ||||||
| Salesforce, Inc. (a) | 132,032 | 34,742,901 | ||||||
| ServiceNow, Inc. (a) | 45,266 | 31,979,976 | ||||||
| Snowflake, Inc. Class A (a) | 14,931 | 2,971,269 | ||||||
| Synopsys, Inc. (a) | 30,756 | 15,836,572 | ||||||
| Veeva Systems, Inc. Class A (a) | 14,663 | 2,822,921 | ||||||
| Workday, Inc. Class A (a) | 45,821 | 12,649,345 | ||||||
| 462,080,660 | ||||||||
| 817,083,447 | ||||||||
| Utilities — 0.3% | ||||||||
| Electric — 0.3% | ||||||||
| Constellation Energy Corp. | 56,938 | 6,655,482 | ||||||
| TOTAL COMMON STOCK (Cost $1,404,377,765) | 2,321,201,808 | |||||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| PREFERRED STOCK — 0.2% | ||||||||
| Technology — 0.2% | ||||||||
| Software — 0.2% | ||||||||
| Canva, Inc., Series A (Acquired 11/04/21-12/17/21, Cost $144,893) (a) (c) (d) (e) | 85 | $ | 90,666 | |||||
| Canva, Inc., Series A-3 (Acquired 11/04/21-12/17/21, Cost $17,043) (a) (c) (d) (e) | 10 | 10,667 | ||||||
| Databricks, Inc., Series G (Acquired 2/01/21, Cost $815,183) (a) (c) (d) (e) | 13,788 | 1,013,418 | ||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $2,202,319) (a) (c) (d) (e) | 29,970 | 2,202,795 | ||||||
| Gusto, Inc., Series E (Acquired 7/13/21, Cost $1,117,484) (a) (c) (d) (e) | 36,765 | 565,446 | ||||||
| 3,882,992 | ||||||||
| TOTAL PREFERRED STOCK (Cost $4,296,922) | 3,882,992 | |||||||
| TOTAL EQUITIES (Cost $1,408,674,687) | 2,325,084,800 | |||||||
| Principal Amount | ||||||||
| BONDS & NOTES — 0.1% | ||||||||
| CORPORATE DEBT — 0.1% | ||||||||
| Retail — 0.1% | ||||||||
| Carvana Co. | ||||||||
| 12.000% 12/01/28 (f) | $ | 770,000 | 653,495 | |||||
| 13.000% 6/01/30 (f) | 1,155,000 | 971,453 | ||||||
| 14.000% 6/01/31 (f) | 1,367,000 | 1,167,645 | ||||||
| 2,792,593 | ||||||||
| TOTAL CORPORATE DEBT (Cost $3,645,200) | 2,792,593 | |||||||
| TOTAL BONDS & NOTES (Cost $3,645,200) | 2,792,593 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,412,319,887) | 2,327,877,393 | |||||||
| SHORT-TERM INVESTMENTS — 0.9% | ||||||||
| Number of Shares | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 881,934 | 881,934 | ||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 107 | 107 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.9% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (h) | $ | 20,405,990 | 20,405,990 | |||||
| MassMutual Blue Chip Growth Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $21,288,031) | $ | 21,288,031 | ||||||
| TOTAL INVESTMENTS — 99.8% (Cost $1,433,607,918) (i) | 2,349,165,424 | |||||||
| Other Assets/(Liabilities) — 0.2% | 4,815,204 | |||||||
| NET ASSETS — 100.0% | $ | 2,353,980,628 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $9,966,642 or 0.42% of net assets. The Fund received $9,303,586 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (c) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $6,922,629 or 0.29% of net assets. |
| (d) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $6,922,629 or 0.29% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $2,792,593 or 0.12% of net assets. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $20,409,618. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $20,814,217. |
| (i) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Growth Opportunities Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 102.0% | ||||||||
| COMMON STOCK — 102.0% | ||||||||
| Basic Materials — 1.3% | ||||||||
| Chemicals — 1.3% | ||||||||
| Linde PLC | 4,457 | $ | 1,830,534 | |||||
| Communications — 23.8% | ||||||||
| Internet — 23.8% | ||||||||
| Airbnb, Inc. Class A (a) | 7,731 | 1,052,498 | ||||||
| Alphabet, Inc. Class A (a) | 22,673 | 3,167,191 | ||||||
| Amazon.com, Inc. (a) | 74,943 | 11,386,839 | ||||||
| DoorDash, Inc., Class A (a) | 16,454 | 1,627,136 | ||||||
| Match Group, Inc. (a) | 27,775 | 1,013,788 | ||||||
| Meta Platforms, Inc. Class A (a) | 10,146 | 3,591,278 | ||||||
| Netflix, Inc. (a) | 4,203 | 2,046,357 | ||||||
| Okta, Inc. (a) | 17,792 | 1,610,710 | ||||||
| Sea Ltd. ADR (a) | 20,417 | 826,889 | ||||||
| Shopify, Inc. Class A (a) | 32,472 | 2,529,569 | ||||||
| Uber Technologies, Inc. (a) | 81,858 | 5,039,997 | ||||||
| 33,892,252 | ||||||||
| Consumer, Cyclical — 3.4% | ||||||||
| Apparel — 1.2% | ||||||||
| NIKE, Inc. Class B | 15,877 | 1,723,766 | ||||||
| Distribution & Wholesale — 1.2% | ||||||||
| Copart, Inc. (a) | 34,057 | 1,668,793 | ||||||
| Retail — 1.0% | ||||||||
| Floor & Decor Holdings, Inc. Class A (a) | 12,373 | 1,380,332 | ||||||
| 4,772,891 | ||||||||
| Consumer, Non-cyclical — 19.1% | ||||||||
| Biotechnology — 1.9% | ||||||||
| Corteva, Inc. | 34,582 | 1,657,170 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 23,249 | 1,111,767 | ||||||
| 2,768,937 | ||||||||
| Commercial Services — 5.1% | ||||||||
| Block, Inc. (a) | 40,746 | 3,151,703 | ||||||
| CoStar Group, Inc. (a) | 18,265 | 1,596,178 | ||||||
| S&P Global, Inc. | 5,667 | 2,496,427 | ||||||
| 7,244,308 | ||||||||
| MassMutual Growth Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Products — 6.8% | ||||||||
| 10X Genomics, Inc. Class A (a) | 20,501 | $ | 1,147,236 | |||||
| Align Technology, Inc. (a) | 3,202 | 877,348 | ||||||
| Danaher Corp. | 7,361 | 1,702,893 | ||||||
| Edwards Lifesciences Corp. (a) | 50,371 | 3,840,789 | ||||||
| Intuitive Surgical, Inc. (a) | 6,278 | 2,117,946 | ||||||
| 9,686,212 | ||||||||
| Health Care – Services — 1.1% | ||||||||
| IQVIA Holdings, Inc. (a) | 6,449 | 1,492,170 | ||||||
| Pharmaceuticals — 4.2% | ||||||||
| Dexcom, Inc. (a) | 39,355 | 4,883,562 | ||||||
| Eli Lilly & Co. | 1,846 | 1,076,070 | ||||||
| 5,959,632 | ||||||||
| 27,151,259 | ||||||||
| Financial — 12.1% | ||||||||
| Banks — 1.3% | ||||||||
| NU Holdings Ltd. Class A (a) | 213,841 | 1,781,295 | ||||||
| Diversified Financial Services — 9.5% | ||||||||
| CME Group, Inc. | 15,775 | 3,322,215 | ||||||
| Mastercard, Inc. Class A | 8,799 | 3,752,862 | ||||||
| Visa, Inc. Class A | 24,883 | 6,478,289 | ||||||
| 13,553,366 | ||||||||
| Private Equity — 1.3% | ||||||||
| KKR & Co., Inc. | 22,254 | 1,843,744 | ||||||
| 17,178,405 | ||||||||
| Industrial — 6.1% | ||||||||
| Aerospace & Defense — 2.2% | ||||||||
| Boeing Co. (a) | 12,135 | 3,163,109 | ||||||
| Environmental Controls — 1.9% | ||||||||
| Waste Management, Inc. | 15,065 | 2,698,141 | ||||||
| Transportation — 2.0% | ||||||||
| Canadian Pacific Kansas City Ltd. (b) | 36,561 | 2,890,513 | ||||||
| 8,751,763 | ||||||||
| Technology — 36.2% | ||||||||
| Semiconductors — 10.1% | ||||||||
| Advanced Micro Devices, Inc. (a) | 16,515 | 2,434,476 | ||||||
| Entegris, Inc. | 17,497 | 2,096,490 | ||||||
| Lam Research Corp. | 2,995 | 2,345,864 | ||||||
| NVIDIA Corp. | 15,177 | 7,515,954 | ||||||
| 14,392,784 | ||||||||
| Software — 26.1% | ||||||||
| Atlassian Corp. Class A (a) | 11,284 | 2,684,012 | ||||||
| MassMutual Growth Opportunities Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Cloudflare, Inc. Class A (a) | 17,819 | $ | 1,483,610 | |||||
| Datadog, Inc. Class A (a) | 33,500 | 4,066,230 | ||||||
| Microsoft Corp. | 39,959 | 15,026,183 | ||||||
| ServiceNow, Inc. (a) | 11,533 | 8,147,949 | ||||||
| Snowflake, Inc. Class A (a) | 17,392 | 3,461,008 | ||||||
| Veeva Systems, Inc. Class A (a) | 11,534 | 2,220,526 | ||||||
| 37,089,518 | ||||||||
| 51,482,302 | ||||||||
| TOTAL COMMON STOCK (Cost $113,868,136) | 145,059,406 | |||||||
| TOTAL EQUITIES (Cost $113,868,136) | 145,059,406 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $113,868,136) | 145,059,406 | |||||||
| SHORT-TERM INVESTMENTS — 2.8% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 2.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 2,922,746 | 2,922,746 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.8% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 1,123,127 | 1,123,127 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,045,873) | 4,045,873 | |||||||
| TOTAL INVESTMENTS — 104.8% (Cost $117,914,009) (e) | 149,105,279 | |||||||
| Other Assets/(Liabilities) — (4.8)% | (6,857,644) | |||||||
| NET ASSETS — 100.0% | $ | 142,247,635 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $2,861,577 or 2.01% of net assets. (Note 2). |
| (c) | Represents investment of security lending cash collateral. (Note 2). |
| (d) | Maturity value of $1,123,326. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,145,728. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Mid Cap Value Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.0% | ||||||||
| COMMON STOCK — 96.7% | ||||||||
| Basic Materials — 4.0% | ||||||||
| Chemicals — 3.0% | ||||||||
| Akzo Nobel NV | 4,894 | $ | 404,369 | |||||
| CF Industries Holdings, Inc. | 5,453 | 433,514 | ||||||
| Huntsman Corp. | 8,245 | 207,197 | ||||||
| LyondellBasell Industries NV Class A | 5,174 | 491,944 | ||||||
| Mosaic Co. | 11,000 | 393,030 | ||||||
| Olin Corp. | 16,146 | 871,077 | ||||||
| 2,801,131 | ||||||||
| Iron & Steel — 1.0% | ||||||||
| Cleveland-Cliffs, Inc. (a) | 2,297 | 46,905 | ||||||
| Nucor Corp. | 3,464 | 602,874 | ||||||
| Steel Dynamics, Inc. | 2,782 | 328,554 | ||||||
| 978,333 | ||||||||
| 3,779,464 | ||||||||
| Communications — 8.9% | ||||||||
| Advertising — 0.6% | ||||||||
| Interpublic Group of Cos., Inc. | 11,543 | 376,764 | ||||||
| Omnicom Group, Inc. | 2,522 | 218,178 | ||||||
| 594,942 | ||||||||
| Internet — 3.0% | ||||||||
| Coupang, Inc. (a) | 6,226 | 100,799 | ||||||
| DoorDash, Inc., Class A (a) | 2,733 | 270,266 | ||||||
| eBay, Inc. | 11,636 | 507,562 | ||||||
| Etsy, Inc. (a) | 2,269 | 183,903 | ||||||
| Expedia Group, Inc. (a) | 1,609 | 244,230 | ||||||
| F5, Inc. (a) | 2,303 | 412,191 | ||||||
| IAC, Inc. (a) | 10,600 | 555,228 | ||||||
| TripAdvisor, Inc. (a) | 4,522 | 97,359 | ||||||
| VeriSign, Inc. (a) | 2,179 | 448,787 | ||||||
| 2,820,325 | ||||||||
| Media — 4.6% | ||||||||
| Altice USA, Inc. Class A (a) | 50,383 | 163,745 | ||||||
| DISH Network Corp. Class A (a) | 30,900 | 178,293 | ||||||
| Fox Corp. Class A | 13,800 | 409,446 | ||||||
| Fox Corp. Class B | 12,800 | 353,920 | ||||||
| Liberty Broadband Corp. Class C (a) | 9,200 | 741,428 | ||||||
| Liberty Global Ltd. Class A (a) | 44,000 | 781,880 | ||||||
| Liberty Media Corp-Liberty SiriusXM Class C (a) | 24,402 | 702,289 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| News Corp. Class A | 24,700 | $ | 606,385 | |||||
| Warner Bros Discovery, Inc. (a) | 29,227 | 332,603 | ||||||
| 4,269,989 | ||||||||
| Telecommunications — 0.7% | ||||||||
| BCE, Inc. (b) | 6,846 | 269,541 | ||||||
| Corning, Inc. | 3,631 | 110,564 | ||||||
| Juniper Networks, Inc. | 8,879 | 261,753 | ||||||
| 641,858 | ||||||||
| 8,327,114 | ||||||||
| Consumer, Cyclical — 8.6% | ||||||||
| Airlines — 0.9% | ||||||||
| Delta Air Lines, Inc. | 6,077 | 244,477 | ||||||
| Southwest Airlines Co. | 16,109 | 465,228 | ||||||
| United Airlines Holdings, Inc. (a) | 4,249 | 175,314 | ||||||
| 885,019 | ||||||||
| Apparel — 0.2% | ||||||||
| Crocs, Inc. (a) | 644 | 60,156 | ||||||
| Deckers Outdoor Corp. (a) | 151 | 100,933 | ||||||
| Skechers USA, Inc. Class A (a) | 594 | 37,030 | ||||||
| 198,119 | ||||||||
| Auto Manufacturers — 1.1% | ||||||||
| Cummins, Inc. | 3,067 | 734,761 | ||||||
| PACCAR, Inc. | 3,136 | 306,230 | ||||||
| 1,040,991 | ||||||||
| Auto Parts & Equipment — 1.0% | ||||||||
| Allison Transmission Holdings, Inc. | 1,655 | 96,238 | ||||||
| Aptiv PLC (a) | 2,798 | 251,037 | ||||||
| BorgWarner, Inc. | 9,454 | 338,926 | ||||||
| Cie Generale des Etablissements Michelin SCA Class A | 5,703 | 204,926 | ||||||
| Phinia, Inc. | 1,163 | 35,227 | ||||||
| 926,354 | ||||||||
| Distribution & Wholesale — 1.2% | ||||||||
| Bunzl PLC | 9,752 | 395,844 | ||||||
| LKQ Corp. | 12,000 | 573,480 | ||||||
| W.W. Grainger, Inc. | 131 | 108,558 | ||||||
| 1,077,882 | ||||||||
| Home Builders — 0.6% | ||||||||
| DR Horton, Inc. | 1,783 | 270,980 | ||||||
| Lennar Corp. Class A | 1,885 | 280,941 | ||||||
| 551,921 | ||||||||
| Leisure Time — 0.0% | ||||||||
| YETI Holdings, Inc. (a) | 600 | 31,068 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Lodging — 0.9% | ||||||||
| Hilton Worldwide Holdings, Inc. | 2,992 | $ | 544,813 | |||||
| MGM Resorts International | 6,691 | 298,954 | ||||||
| 843,767 | ||||||||
| Retail — 2.7% | ||||||||
| Advance Auto Parts, Inc. | 3,900 | 238,017 | ||||||
| Beacon Roofing Supply, Inc. (a) | 3,839 | 334,070 | ||||||
| Best Buy Co., Inc. | 664 | 51,978 | ||||||
| Dollar General Corp. | 1,800 | 244,710 | ||||||
| Dollar Tree, Inc. (a) | 7,114 | 1,010,544 | ||||||
| MSC Industrial Direct Co., Inc. Class A | 2,740 | 277,452 | ||||||
| Ross Stores, Inc. | 1,585 | 219,348 | ||||||
| Ulta Beauty, Inc. (a) | 217 | 106,328 | ||||||
| 2,482,447 | ||||||||
| 8,037,568 | ||||||||
| Consumer, Non-cyclical — 18.7% | ||||||||
| Beverages — 0.1% | ||||||||
| Heineken NV | 1,304 | 132,676 | ||||||
| Biotechnology — 1.3% | ||||||||
| Bio-Rad Laboratories, Inc. Class A (a) | 2,595 | 837,899 | ||||||
| Incyte Corp. (a) | 1,449 | 90,983 | ||||||
| Royalty Pharma PLC Class A | 10,095 | 283,569 | ||||||
| 1,212,451 | ||||||||
| Commercial Services — 2.0% | ||||||||
| Clarivate PLC (a) (b) | 62,900 | 582,454 | ||||||
| Euronet Worldwide, Inc. (a) | 890 | 90,326 | ||||||
| FleetCor Technologies, Inc. (a) | 2,100 | 593,481 | ||||||
| Global Payments, Inc. | 3,900 | 495,300 | ||||||
| Grand Canyon Education, Inc. (a) | 82 | 10,827 | ||||||
| Shift4 Payments, Inc. Class A (a) | 1,265 | 94,040 | ||||||
| 1,866,428 | ||||||||
| Cosmetics & Personal Care — 0.2% | ||||||||
| Kenvue, Inc. | 7,282 | 156,781 | ||||||
| Food — 4.0% | ||||||||
| Conagra Brands, Inc. | 26,615 | 762,786 | ||||||
| General Mills, Inc. | 5,155 | 335,797 | ||||||
| Kellanova | 1,026 | 57,364 | ||||||
| Koninklijke Ahold Delhaize NV | 20,444 | 586,998 | ||||||
| Kroger Co. | 4,998 | 228,458 | ||||||
| Performance Food Group Co. (a) | 516 | 35,681 | ||||||
| Post Holdings, Inc. (a) | 6,500 | 572,390 | ||||||
| Seaboard Corp. | 9 | 32,131 | ||||||
| Tyson Foods, Inc. Class A | 10,800 | 580,500 | ||||||
| U.S. Foods Holding Corp. (a) | 11,141 | 505,913 | ||||||
| 3,698,018 | ||||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Health Care – Products — 2.9% | ||||||||
| Agilent Technologies, Inc. | 263 | $ | 36,565 | |||||
| Align Technology, Inc. (a) | 501 | 137,274 | ||||||
| Baxter International, Inc. | 1,991 | 76,972 | ||||||
| Envista Holdings Corp. (a) | 9,272 | 223,084 | ||||||
| Hologic, Inc. (a) | 10,227 | 730,719 | ||||||
| Koninklijke Philips NV (a) (b) | 21,437 | 500,125 | ||||||
| West Pharmaceutical Services, Inc. | 98 | 34,508 | ||||||
| Zimmer Biomet Holdings, Inc. | 8,285 | 1,008,285 | ||||||
| 2,747,532 | ||||||||
| Health Care – Services — 3.4% | ||||||||
| Catalent, Inc. (a) | 5,900 | 265,087 | ||||||
| Centene Corp. (a) | 10,821 | 803,027 | ||||||
| Laboratory Corp. of America Holdings | 4,247 | 965,301 | ||||||
| Quest Diagnostics, Inc. | 4,522 | 623,493 | ||||||
| Universal Health Services, Inc. Class B | 3,712 | 565,857 | ||||||
| 3,222,765 | ||||||||
| Household Products & Wares — 0.6% | ||||||||
| Kimberly-Clark Corp. | 4,769 | 579,481 | ||||||
| Pharmaceuticals — 4.2% | ||||||||
| Becton Dickinson & Co. | 747 | 182,141 | ||||||
| Cardinal Health, Inc. | 3,739 | 376,891 | ||||||
| Cencora, Inc. | 2,491 | 511,602 | ||||||
| DENTSPLY SIRONA, Inc. | 5,952 | 211,832 | ||||||
| Elanco Animal Health, Inc. (a) | 20,472 | 305,033 | ||||||
| Henry Schein, Inc. (a) | 9,685 | 733,251 | ||||||
| Jazz Pharmaceuticals PLC (a) | 3,735 | 459,405 | ||||||
| Neurocrine Biosciences, Inc. (a) | 918 | 120,956 | ||||||
| Organon & Co. | 21,800 | 314,356 | ||||||
| Perrigo Co. PLC | 20,600 | 662,908 | ||||||
| Premier, Inc. Class A | 3,948 | 88,277 | ||||||
| 3,966,652 | ||||||||
| 17,582,784 | ||||||||
| Energy — 6.1% | ||||||||
| Energy – Alternate Sources — 0.2% | ||||||||
| Enphase Energy, Inc. (a) | 898 | 118,662 | ||||||
| Oil & Gas — 3.1% | ||||||||
| Chesapeake Energy Corp. (b) | 5,300 | 407,782 | ||||||
| Diamondback Energy, Inc. | 3,801 | 589,459 | ||||||
| EQT Corp. | 12,564 | 485,724 | ||||||
| HF Sinclair Corp. | 6,522 | 362,428 | ||||||
| Marathon Oil Corp. | 18,424 | 445,124 | ||||||
| Noble Corp. PLC | 3,500 | 168,560 | ||||||
| Occidental Petroleum Corp. | 5,628 | 336,048 | ||||||
| Southwestern Energy Co. (a) | 19,653 | 128,727 | ||||||
| 2,923,852 | ||||||||
| Oil & Gas Services — 0.8% | ||||||||
| Baker Hughes Co. | 21,637 | 739,552 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Pipelines — 2.0% | ||||||||
| Cheniere Energy, Inc. | 311 | $ | 53,091 | |||||
| Enterprise Products Partners LP (c) | 23,200 | 611,320 | ||||||
| Kinder Morgan, Inc. | 38,800 | 684,432 | ||||||
| Williams Cos., Inc. | 15,800 | 550,314 | ||||||
| 1,899,157 | ||||||||
| 5,681,223 | ||||||||
| Financial — 19.9% | ||||||||
| Banks — 4.1% | ||||||||
| Bank of New York Mellon Corp. | 13,474 | 701,322 | ||||||
| Commerce Bancshares, Inc. | 3,598 | 192,169 | ||||||
| East West Bancorp, Inc. | 4,637 | 333,632 | ||||||
| First Citizens BancShares, Inc. Class A | 194 | 275,280 | ||||||
| First Hawaiian, Inc. | 7,956 | 181,874 | ||||||
| First Horizon Corp. | 13,928 | 197,221 | ||||||
| Northern Trust Corp. | 8,343 | 703,982 | ||||||
| Prosperity Bancshares, Inc. | 2,065 | 139,863 | ||||||
| Synovus Financial Corp. | 7,557 | 284,521 | ||||||
| Truist Financial Corp. | 10,795 | 398,551 | ||||||
| US Bancorp | 3,290 | 142,391 | ||||||
| Westamerica BanCorp | 2,746 | 154,902 | ||||||
| Zions Bancorp NA | 2,968 | 130,206 | ||||||
| 3,835,914 | ||||||||
| Diversified Financial Services — 2.4% | ||||||||
| Ally Financial, Inc. | 15,080 | 526,593 | ||||||
| Apollo Global Management, Inc. | 1,168 | 108,846 | ||||||
| Blue Owl Capital, Inc. | 1,978 | 29,472 | ||||||
| Coinbase Global, Inc. Class A (a) | 658 | 114,439 | ||||||
| Discover Financial Services | 1,114 | 125,214 | ||||||
| LPL Financial Holdings, Inc. | 464 | 105,616 | ||||||
| Stifel Financial Corp. | 4,287 | 296,446 | ||||||
| Synchrony Financial | 2,210 | 84,400 | ||||||
| T. Rowe Price Group, Inc. | 4,046 | 435,714 | ||||||
| Tradeweb Markets, Inc. Class A | 761 | 69,160 | ||||||
| XP, Inc. Class A | 11,374 | 296,520 | ||||||
| 2,192,420 | ||||||||
| Insurance — 7.2% | ||||||||
| Aflac, Inc. | 2,227 | 183,727 | ||||||
| Allstate Corp. | 13,270 | 1,857,535 | ||||||
| Arch Capital Group Ltd. (a) | 5,300 | 393,631 | ||||||
| Axis Capital Holdings Ltd. | 409 | 22,646 | ||||||
| Fidelity National Financial, Inc. | 12,100 | 617,342 | ||||||
| Hanover Insurance Group, Inc. | 1,953 | 237,133 | ||||||
| Hartford Financial Services Group, Inc. | 7,102 | 570,859 | ||||||
| Markel Group, Inc. (a) | 500 | 709,950 | ||||||
| Old Republic International Corp. | 8,700 | 255,780 | ||||||
| Reinsurance Group of America, Inc. | 5,534 | 895,291 | ||||||
| Willis Towers Watson PLC | 4,288 | 1,034,266 | ||||||
| 6,778,160 | ||||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Real Estate Investment Trusts (REITS) — 6.2% | ||||||||
| AvalonBay Communities, Inc. | 2,771 | $ | 518,787 | |||||
| Camden Property Trust | 622 | 61,758 | ||||||
| EPR Properties | 278 | 13,469 | ||||||
| Equity Residential | 903 | 55,228 | ||||||
| Essex Property Trust, Inc. | 1,612 | 399,679 | ||||||
| Gaming & Leisure Properties, Inc. | 9,100 | 449,085 | ||||||
| Healthpeak Properties, Inc. | 34,918 | 691,376 | ||||||
| Host Hotels & Resorts, Inc. | 8,393 | 163,412 | ||||||
| JBG SMITH Properties | 18,143 | 308,612 | ||||||
| Mid-America Apartment Communities, Inc. | 3,375 | 453,803 | ||||||
| Public Storage | 1,271 | 387,655 | ||||||
| Realty Income Corp. | 9,050 | 519,651 | ||||||
| Regency Centers Corp. | 6,115 | 409,705 | ||||||
| Simon Property Group, Inc. | 3,946 | 562,857 | ||||||
| UDR, Inc. | 2,187 | 83,740 | ||||||
| VICI Properties, Inc. | 6,700 | 213,596 | ||||||
| Weyerhaeuser Co. | 12,258 | 426,211 | ||||||
| WP Carey, Inc. | 1,846 | 119,639 | ||||||
| 5,838,263 | ||||||||
| 18,644,757 | ||||||||
| Industrial — 13.7% | ||||||||
| Aerospace & Defense — 0.7% | ||||||||
| Curtiss-Wright Corp. | 145 | 32,305 | ||||||
| General Dynamics Corp. | 637 | 165,410 | ||||||
| Howmet Aerospace, Inc. | 9,354 | 506,238 | ||||||
| 703,953 | ||||||||
| Building Materials — 1.9% | ||||||||
| AZEK Co., Inc. (a) | 2,241 | 85,718 | ||||||
| Builders FirstSource, Inc. (a) | 1,700 | 283,798 | ||||||
| Cie de Saint-Gobain SA | 4,033 | 298,225 | ||||||
| Johnson Controls International PLC | 3,907 | 225,200 | ||||||
| Louisiana-Pacific Corp. | 4,300 | 304,569 | ||||||
| Trane Technologies PLC | 2,362 | 576,092 | ||||||
| 1,773,602 | ||||||||
| Electrical Components & Equipment — 0.6% | ||||||||
| Emerson Electric Co. | 5,546 | 539,792 | ||||||
| Electronics — 2.6% | ||||||||
| Amphenol Corp. Class A | 5,677 | 562,761 | ||||||
| Flex Ltd. (a) | 8,800 | 268,048 | ||||||
| Garmin Ltd. | 1,467 | 188,568 | ||||||
| Hubbell, Inc. | 209 | 68,746 | ||||||
| Keysight Technologies, Inc. (a) | 3,119 | 496,202 | ||||||
| TE Connectivity Ltd. | 2,573 | 361,507 | ||||||
| Vontier Corp. | 15,702 | 542,504 | ||||||
| 2,488,336 | ||||||||
| Engineering & Construction — 0.4% | ||||||||
| EMCOR Group, Inc. | 145 | 31,237 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Vinci SA | 2,964 | $ | 372,258 | |||||
| 403,495 | ||||||||
| Environmental Controls — 0.8% | ||||||||
| Republic Services, Inc. | 4,413 | 727,748 | ||||||
| Machinery – Construction & Mining — 0.4% | ||||||||
| Oshkosh Corp. | 3,085 | 334,445 | ||||||
| Machinery – Diversified — 0.5% | ||||||||
| CNH Industrial NV | 25,200 | 306,936 | ||||||
| Crane Co. | 244 | 28,826 | ||||||
| Gates Industrial Corp. PLC (a) | 2,305 | 30,933 | ||||||
| IMI PLC | 5,970 | 127,795 | ||||||
| 494,490 | ||||||||
| Miscellaneous - Manufacturing — 1.5% | ||||||||
| Carlisle Cos., Inc. | 214 | 66,860 | ||||||
| Donaldson Co., Inc. | 3,454 | 225,719 | ||||||
| ITT, Inc. | 1,279 | 152,610 | ||||||
| Parker-Hannifin Corp. | 1,438 | 662,487 | ||||||
| Textron, Inc. | 3,610 | 290,316 | ||||||
| 1,397,992 | ||||||||
| Packaging & Containers — 1.6% | ||||||||
| Amcor PLC | 44,821 | 432,075 | ||||||
| Graphic Packaging Holding Co. | 19,900 | 490,535 | ||||||
| Packaging Corp. of America | 2,176 | 354,492 | ||||||
| Sonoco Products Co. | 3,807 | 212,697 | ||||||
| 1,489,799 | ||||||||
| Shipbuilding — 1.4% | ||||||||
| Huntington Ingalls Industries, Inc. | 4,932 | 1,280,544 | ||||||
| Transportation — 1.3% | ||||||||
| FedEx Corp. | 1,200 | 303,564 | ||||||
| Heartland Express, Inc. | 13,434 | 191,569 | ||||||
| Kirby Corp. (a) | 318 | 24,957 | ||||||
| Norfolk Southern Corp. | 2,511 | 593,550 | ||||||
| Ryder System, Inc. | 634 | 72,948 | ||||||
| 1,186,588 | ||||||||
| 12,820,784 | ||||||||
| Technology — 4.8% | ||||||||
| Computers — 1.4% | ||||||||
| Amdocs Ltd. | 4,643 | 408,073 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 543 | 138,639 | ||||||
| Genpact Ltd. | 648 | 22,492 | ||||||
| Hewlett Packard Enterprise Co. | 19,300 | 327,714 | ||||||
| HP, Inc. | 10,426 | 313,719 | ||||||
| Pure Storage, Inc. Class A (a) | 2,564 | 91,432 | ||||||
| 1,302,069 | ||||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Semiconductors — 0.7% | ||||||||
| Cirrus Logic, Inc. (a) | 2,528 | $ | 210,304 | |||||
| IPG Photonics Corp. (a) | 178 | 19,320 | ||||||
| Qorvo, Inc. (a) | 2,010 | 226,346 | ||||||
| Skyworks Solutions, Inc. | 626 | 70,375 | ||||||
| Teradyne, Inc. | 1,428 | 154,967 | ||||||
| 681,312 | ||||||||
| Software — 2.7% | ||||||||
| Datadog, Inc. Class A (a) | 437 | 53,043 | ||||||
| DocuSign, Inc. (a) | 2,512 | 149,338 | ||||||
| Doximity, Inc. Class A (a) | 2,487 | 69,736 | ||||||
| Dropbox, Inc. Class A (a) | 1,382 | 40,741 | ||||||
| Dynatrace, Inc. (a) | 2,134 | 116,709 | ||||||
| Elastic NV (a) | 1,273 | 143,467 | ||||||
| Electronic Arts, Inc. | 5,037 | 689,112 | ||||||
| Fidelity National Information Services, Inc. | 5,800 | 348,406 | ||||||
| HubSpot, Inc. (a) | 219 | 127,138 | ||||||
| MSCI, Inc. | 893 | 505,126 | ||||||
| Paycom Software, Inc. | 93 | 19,225 | ||||||
| Smartsheet, Inc. Class A (a) | 2,644 | 126,436 | ||||||
| Veeva Systems, Inc. Class A (a) | 489 | 94,142 | ||||||
| 2,482,619 | ||||||||
| 4,466,000 | ||||||||
| Utilities — 12.0% | ||||||||
| Electric — 9.9% | ||||||||
| CenterPoint Energy, Inc. | 16,700 | 477,119 | ||||||
| CMS Energy Corp. | 4,909 | 285,066 | ||||||
| Dominion Energy, Inc. | 21,000 | 987,000 | ||||||
| Duke Energy Corp. | 4,761 | 462,007 | ||||||
| Edison International | 14,098 | 1,007,866 | ||||||
| Entergy Corp. | 4,952 | 501,093 | ||||||
| Evergy, Inc. | 22,656 | 1,182,643 | ||||||
| Eversource Energy | 12,920 | 797,422 | ||||||
| Exelon Corp. | 17,100 | 613,890 | ||||||
| Northwestern Energy Group, Inc. | 10,123 | 515,160 | ||||||
| OGE Energy Corp. | 23,219 | 811,040 | ||||||
| PG&E Corp. | 31,178 | 562,139 | ||||||
| Pinnacle West Capital Corp. | 3,568 | 256,325 | ||||||
| Vistra Corp. | 13,626 | 524,874 | ||||||
| WEC Energy Group, Inc. | 3,237 | 272,458 | ||||||
| 9,256,102 | ||||||||
| Gas — 2.1% | ||||||||
| Atmos Energy Corp. | 663 | 76,842 | ||||||
| National Fuel Gas Co. | 8,700 | 436,479 | ||||||
| NiSource, Inc. | 31,000 | 823,050 | ||||||
| ONE Gas, Inc. | 2,618 | 166,819 | ||||||
| MassMutual Mid Cap Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Spire, Inc. | 8,390 | $ | 523,032 | |||||
| 2,026,222 | ||||||||
| 11,282,324 | ||||||||
| TOTAL COMMON STOCK (Cost $85,785,937) | 90,622,018 | |||||||
| PREFERRED STOCK — 0.3% | ||||||||
| Consumer, Non-cyclical — 0.3% | ||||||||
| Household Products & Wares — 0.3% | ||||||||
| Henkel AG & Co. KGaA 2.542% | 3,199 | 257,302 | ||||||
| TOTAL PREFERRED STOCK (Cost $217,046) | 257,302 | |||||||
| TOTAL EQUITIES (Cost $86,002,983) | 90,879,320 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $86,002,983) | 90,879,320 | |||||||
| SHORT-TERM INVESTMENTS — 3.0% | ||||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 3.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 2,833,902 | 2,833,902 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,833,902) | 2,833,902 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $88,836,885) (e) | 93,713,222 | |||||||
| Other Assets/(Liabilities) — 0.0% | 37,018 | |||||||
| NET ASSETS — 100.0% | $ | 93,750,240 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $1,496,406 or 1.60% of net assets. The Fund received $1,539,238 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (c) | Security is a Master Limited Partnership. |
| (d) | Maturity value of $2,834,406. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 4.875%, maturity date of 11/30/25 , and an aggregate market value, including accrued interest, of $2,890,696. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 3/28/24 | USD | 673,485 | EUR | 613,683 | $ | (6,300) | |||||||||
| Goldman Sachs & Co. | 3/28/24 | USD | 225,514 | CAD | 301,598 | (2,363) | ||||||||||
| Goldman Sachs & Co. | 3/28/24 | USD | 451,664 | GBP | 356,317 | (2,701) | ||||||||||
| JP Morgan Chase Bank N.A. | 3/28/24 | USD | 624,723 | EUR | 569,240 | (5,831) | ||||||||||
| Morgan Stanley & Co. LLC | 3/28/24 | USD | 624,723 | EUR | 569,240 | (5,831) | ||||||||||
| $ | (23,026) | |||||||||||||||
Currency Legend
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |
| USD | U.S. Dollar |
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.2% | ||||||||
| COMMON STOCK — 97.2% | ||||||||
| Basic Materials — 8.4% | ||||||||
| Chemicals — 4.8% | ||||||||
| Axalta Coating Systems Ltd. (a) | 12,838 | $ | 436,107 | |||||
| Cabot Corp. | 9,072 | 757,512 | ||||||
| Element Solutions, Inc. | 23,801 | 550,755 | ||||||
| HB Fuller Co. | 4,467 | 363,658 | ||||||
| Mativ Holdings, Inc. | 28,542 | 436,978 | ||||||
| 2,545,010 | ||||||||
| Iron & Steel — 1.4% | ||||||||
| ATI, Inc. (a) | 16,032 | 728,975 | ||||||
| Mining — 2.2% | ||||||||
| Ferroglobe PLC (a) | 78,900 | 513,639 | ||||||
| Kaiser Aluminum Corp. | 9,704 | 690,828 | ||||||
| 1,204,467 | ||||||||
| 4,478,452 | ||||||||
| Communications — 4.5% | ||||||||
| Internet — 2.2% | ||||||||
| ePlus, Inc. (a) | 5,445 | 434,729 | ||||||
| Perficient, Inc. (a) | 5,293 | 348,385 | ||||||
| Shutterstock, Inc. | 8,145 | 393,241 | ||||||
| 1,176,355 | ||||||||
| Telecommunications — 2.3% | ||||||||
| Ciena Corp. (a) | 15,822 | 712,148 | ||||||
| Infinera Corp. (a) | 107,844 | 512,259 | ||||||
| 1,224,407 | ||||||||
| 2,400,762 | ||||||||
| Consumer, Cyclical — 13.1% | ||||||||
| Apparel — 1.5% | ||||||||
| Kontoor Brands, Inc. | 8,323 | 519,522 | ||||||
| Oxford Industries, Inc. | 2,968 | 296,800 | ||||||
| 816,322 | ||||||||
| Auto Parts & Equipment — 4.9% | ||||||||
| Adient PLC (a) | 18,986 | 690,331 | ||||||
| American Axle & Manufacturing Holdings, Inc. (a) | 68,984 | 607,749 | ||||||
| Gentherm, Inc. (a) | 11,180 | 585,385 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Goodyear Tire & Rubber Co. (a) | 25,366 | $ | 363,241 | |||||
| Visteon Corp. (a) | 2,732 | 341,227 | ||||||
| 2,587,933 | ||||||||
| Food Services — 0.7% | ||||||||
| Aramark | 13,571 | 381,345 | ||||||
| Home Builders — 1.4% | ||||||||
| Century Communities, Inc. | 3,863 | 352,074 | ||||||
| Tri Pointe Homes, Inc. (a) | 11,017 | 390,002 | ||||||
| 742,076 | ||||||||
| Home Furnishing — 0.8% | ||||||||
| Sonos, Inc. (a) | 25,775 | 441,783 | ||||||
| Lodging — 0.7% | ||||||||
| Wyndham Hotels & Resorts, Inc. | 4,744 | 381,465 | ||||||
| Office Furnishings — 0.8% | ||||||||
| Interface, Inc. | 33,965 | 428,638 | ||||||
| Retail — 1.9% | ||||||||
| Boot Barn Holdings, Inc. (a) | 1,653 | 126,884 | ||||||
| Dave & Buster's Entertainment, Inc. (a) | 9,478 | 510,390 | ||||||
| Five Below, Inc. (a) | 1,616 | 344,467 | ||||||
| 981,741 | ||||||||
| Textiles — 0.4% | ||||||||
| UniFirst Corp. | 1,030 | 188,397 | ||||||
| 6,949,700 | ||||||||
| Consumer, Non-cyclical — 12.7% | ||||||||
| Agriculture — 1.5% | ||||||||
| Darling Ingredients, Inc. (a) | 16,032 | 799,035 | ||||||
| Commercial Services — 5.1% | ||||||||
| BrightView Holdings, Inc. (a) | 13,469 | 113,409 | ||||||
| Colliers International Group, Inc. (b) | 3,073 | 388,796 | ||||||
| Huron Consulting Group, Inc. (a) | 2,635 | 270,878 | ||||||
| Monro, Inc. | 9,964 | 292,344 | ||||||
| Sterling Check Corp. (a) | 29,630 | 412,450 | ||||||
| Vestis Corp. | 23,517 | 497,149 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 16,032 | 713,424 | ||||||
| 2,688,450 | ||||||||
| Food — 3.1% | ||||||||
| Hain Celestial Group, Inc. (a) | 66,875 | 732,281 | ||||||
| Post Holdings, Inc. (a) | 3,440 | 302,926 | ||||||
| SunOpta, Inc. (a) | 59,491 | 325,416 | ||||||
| U.S. Foods Holding Corp. (a) | 6,554 | 297,617 | ||||||
| 1,658,240 | ||||||||
| Health Care – Products — 1.8% | ||||||||
| Haemonetics Corp. (a) | 2,649 | 226,516 | ||||||
| ICU Medical, Inc. (a) | 2,758 | 275,083 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Integra LifeSciences Holdings Corp. (a) | 10,909 | $ | 475,087 | |||||
| 976,686 | ||||||||
| Household Products & Wares — 1.2% | ||||||||
| ACCO Brands Corp. | 37,146 | 225,848 | ||||||
| Spectrum Brands Holdings, Inc. | 4,856 | 387,363 | ||||||
| 613,211 | ||||||||
| 6,735,622 | ||||||||
| Energy — 4.3% | ||||||||
| Oil & Gas — 2.3% | ||||||||
| Chesapeake Energy Corp. (b) | 3,921 | 301,682 | ||||||
| Chord Energy Corp. | 2,787 | 463,283 | ||||||
| Sitio Royalties Corp. Class A | 19,580 | 460,326 | ||||||
| 1,225,291 | ||||||||
| Oil & Gas Services — 2.0% | ||||||||
| Atlas Energy Solutions, Inc. | 31,644 | 544,910 | ||||||
| NOW, Inc. (a) | 43,585 | 493,382 | ||||||
| 1,038,292 | ||||||||
| 2,263,583 | ||||||||
| Financial — 26.8% | ||||||||
| Banks — 13.8% | ||||||||
| Cadence Bank | 10,923 | 323,212 | ||||||
| Columbia Banking System, Inc. | 30,378 | 810,485 | ||||||
| Eastern Bankshares, Inc. | 16,589 | 235,564 | ||||||
| First Citizens BancShares, Inc. Class A | 308 | 437,043 | ||||||
| First Interstate BancSystem, Inc. Class A | 3,906 | 120,109 | ||||||
| Hancock Whitney Corp. | 7,677 | 373,025 | ||||||
| International Bancshares Corp. | 4,862 | 264,104 | ||||||
| Live Oak Bancshares, Inc. | 19,618 | 892,619 | ||||||
| OFG Bancorp | 27,635 | 1,035,760 | ||||||
| Seacoast Banking Corp. of Florida | 13,339 | 379,628 | ||||||
| Synovus Financial Corp. | 7,820 | 294,423 | ||||||
| Texas Capital Bancshares, Inc. (a) | 14,345 | 927,117 | ||||||
| Triumph Financial, Inc. (a) | 11,181 | 896,493 | ||||||
| Webster Financial Corp. | 7,183 | 364,609 | ||||||
| 7,354,191 | ||||||||
| Diversified Financial Services — 3.1% | ||||||||
| Air Lease Corp. | 9,463 | 396,878 | ||||||
| Bread Financial Holdings, Inc. | 11,040 | 363,658 | ||||||
| Burford Capital Ltd. | 35,863 | 559,463 | ||||||
| Houlihan Lokey, Inc. | 2,794 | 335,028 | ||||||
| 1,655,027 | ||||||||
| Insurance — 4.6% | ||||||||
| Assured Guaranty Ltd. | 4,600 | 344,218 | ||||||
| Kemper Corp. | 9,687 | 471,466 | ||||||
| NMI Holdings, Inc. Class A (a) | 10,114 | 300,183 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| ProAssurance Corp. | 20,705 | $ | 285,522 | |||||
| Reinsurance Group of America, Inc. | 2,652 | 429,041 | ||||||
| SiriusPoint Ltd. (a) | 26,885 | 311,866 | ||||||
| White Mountains Insurance Group Ltd. | 201 | 302,507 | ||||||
| 2,444,803 | ||||||||
| Real Estate Investment Trusts (REITS) — 5.3% | ||||||||
| Alexander & Baldwin, Inc. | 13,369 | 254,278 | ||||||
| Centerspace | 4,638 | 269,932 | ||||||
| Independence Realty Trust, Inc. | 21,935 | 335,605 | ||||||
| Kimco Realty Corp. | 19,083 | 406,659 | ||||||
| LXP Industrial Trust | 23,684 | 234,945 | ||||||
| NETSTREIT Corp. | 15,808 | 282,173 | ||||||
| Pebblebrook Hotel Trust | 23,041 | 368,195 | ||||||
| Phillips Edison & Co., Inc. | 7,189 | 262,255 | ||||||
| PotlatchDeltic Corp. | 7,777 | 381,851 | ||||||
| 2,795,893 | ||||||||
| 14,249,914 | ||||||||
| Industrial — 21.9% | ||||||||
| Aerospace & Defense — 0.1% | ||||||||
| Leonardo DRS, Inc. (a) | 3,596 | 72,064 | ||||||
| Building Materials — 4.1% | ||||||||
| American Woodmark Corp. (a) | 4,810 | 446,608 | ||||||
| Fortune Brands Innovations, Inc. | 5,392 | 410,547 | ||||||
| Gibraltar Industries, Inc. (a) | 9,914 | 783,008 | ||||||
| Masonite International Corp. (a) | 6,750 | 571,455 | ||||||
| 2,211,618 | ||||||||
| Electrical Components & Equipment — 0.9% | ||||||||
| Belden, Inc. | 4,712 | 364,002 | ||||||
| Generac Holdings, Inc. (a) | 1,142 | 147,592 | ||||||
| 511,594 | ||||||||
| Electronics — 3.3% | ||||||||
| Brady Corp. Class A | 7,233 | 424,505 | ||||||
| Coherent Corp. (a) | 22,994 | 1,000,929 | ||||||
| CTS Corp. | 7,675 | 335,704 | ||||||
| 1,761,138 | ||||||||
| Environmental Controls — 1.1% | ||||||||
| Enviri Corp. (a) | 64,512 | 580,608 | ||||||
| Hand & Machine Tools — 2.7% | ||||||||
| Enerpac Tool Group Corp. | 29,534 | 918,212 | ||||||
| Kennametal, Inc. | 19,408 | 500,532 | ||||||
| 1,418,744 | ||||||||
| Machinery – Diversified — 0.9% | ||||||||
| Middleby Corp. (a) | 2,732 | 402,068 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Thermon Group Holdings, Inc. (a) | 2,322 | $ | 75,628 | |||||
| 477,696 | ||||||||
| Metal Fabricate & Hardware — 1.4% | ||||||||
| Janus International Group, Inc. (a) | 19,770 | 257,998 | ||||||
| Standex International Corp. | 2,954 | 467,855 | ||||||
| 725,853 | ||||||||
| Miscellaneous - Manufacturing — 1.0% | ||||||||
| Materion Corp. | 4,008 | 521,561 | ||||||
| Packaging & Containers — 1.5% | ||||||||
| Sealed Air Corp. | 8,887 | 324,553 | ||||||
| TriMas Corp. | 18,410 | 466,326 | ||||||
| 790,879 | ||||||||
| Transportation — 3.3% | ||||||||
| Air Transport Services Group, Inc. (a) | 30,800 | 542,388 | ||||||
| Kirby Corp. (a) | 8,861 | 695,411 | ||||||
| Knight-Swift Transportation Holdings, Inc. | 2,950 | 170,068 | ||||||
| Ryder System, Inc. | 2,866 | 329,762 | ||||||
| 1,737,629 | ||||||||
| Trucking & Leasing — 1.6% | ||||||||
| Greenbrier Cos., Inc. | 18,985 | 838,757 | ||||||
| 11,648,141 | ||||||||
| Technology — 4.4% | ||||||||
| Computers — 0.7% | ||||||||
| WNS Holdings Ltd. ADR (a) | 6,201 | 391,903 | ||||||
| Semiconductors — 1.6% | ||||||||
| Diodes, Inc. (a) | 10,290 | 828,551 | ||||||
| Software — 2.1% | ||||||||
| ACI Worldwide, Inc. (a) | 16,328 | 499,637 | ||||||
| Progress Software Corp. | 7,447 | 404,372 | ||||||
| Veradigm, Inc. (a) | 19,129 | 200,663 | ||||||
| 1,104,672 | ||||||||
| 2,325,126 | ||||||||
| Utilities — 1.1% | ||||||||
| Electric — 0.6% | ||||||||
| Portland General Electric Co. | 7,257 | 314,519 | ||||||
| Gas — 0.5% | ||||||||
| ONE Gas, Inc. | 4,028 | 256,664 | ||||||
| MassMutual Small Cap Value Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| $ | 571,183 | |||||||
| TOTAL COMMON STOCK (Cost $45,217,031) | 51,622,483 | |||||||
| TOTAL EQUITIES (Cost $45,217,031) | 51,622,483 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $45,217,031) | 51,622,483 | |||||||
| SHORT-TERM INVESTMENTS — 3.5% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.6% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 310,200 | 310,200 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 2.9% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 1,516,970 | 1,516,970 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,827,170) | 1,827,170 | |||||||
| TOTAL INVESTMENTS — 100.7% (Cost $47,044,201) (e) | 53,449,653 | |||||||
| Other Assets/(Liabilities) — (0.7)% | (353,841) | |||||||
| NET ASSETS — 100.0% | $ | 53,095,812 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $602,953 or 1.14% of net assets. The Fund received $307,043 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (c) | Represents investment of security lending cash collateral. (Note 2). |
| (d) | Maturity value of $1,517,240. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,547,355. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Small Company Value Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 99.6% | ||||||||
| COMMON STOCK — 99.6% | ||||||||
| Basic Materials — 3.8% | ||||||||
| Chemicals — 2.1% | ||||||||
| AdvanSix, Inc. | 53,454 | $ | 1,601,482 | |||||
| Element Solutions, Inc. | 69,848 | 1,616,282 | ||||||
| Ingevity Corp. (a) | 5,593 | 264,101 | ||||||
| Minerals Technologies, Inc. | 9,867 | 703,616 | ||||||
| 4,185,481 | ||||||||
| Iron & Steel — 1.7% | ||||||||
| ATI, Inc. (a) | 30,447 | 1,384,425 | ||||||
| Haynes International, Inc. | 34,514 | 1,969,024 | ||||||
| 3,353,449 | ||||||||
| 7,538,930 | ||||||||
| Communications — 3.9% | ||||||||
| Internet — 0.9% | ||||||||
| Criteo SA Sponsored ADR (a) | 45,127 | 1,142,616 | ||||||
| Entravision Communications Corp. Class A | 89,292 | 372,348 | ||||||
| Solo Brands, Inc. Class A (a) | 38,585 | 237,683 | ||||||
| 1,752,647 | ||||||||
| Media — 1.3% | ||||||||
| Cable One, Inc. | 1,602 | 891,657 | ||||||
| Nexstar Media Group, Inc. | 10,783 | 1,690,235 | ||||||
| Townsquare Media, Inc. Class A | 7,385 | 77,986 | ||||||
| 2,659,878 | ||||||||
| Telecommunications — 1.7% | ||||||||
| Calix, Inc. (a) | 40,666 | 1,776,698 | ||||||
| Casa Systems, Inc. (a) | 108,400 | 57,452 | ||||||
| Harmonic, Inc. (a) | 122,158 | 1,592,940 | ||||||
| 3,427,090 | ||||||||
| 7,839,615 | ||||||||
| Consumer, Cyclical — 15.8% | ||||||||
| Airlines — 0.7% | ||||||||
| Alaska Air Group, Inc. (a) | 34,141 | 1,333,889 | ||||||
| Apparel — 0.7% | ||||||||
| Tapestry, Inc. | 37,267 | 1,371,798 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Auto Manufacturers — 1.7% | ||||||||
| Blue Bird Corp. (a) | 67,484 | $ | 1,819,369 | |||||
| REV Group, Inc. | 90,397 | 1,642,513 | ||||||
| 3,461,882 | ||||||||
| Auto Parts & Equipment — 2.3% | ||||||||
| Dana, Inc. | 114,743 | 1,676,395 | ||||||
| Goodyear Tire & Rubber Co. (a) | 121,979 | 1,746,740 | ||||||
| Shyft Group, Inc. | 89,760 | 1,096,867 | ||||||
| 4,520,002 | ||||||||
| Distribution & Wholesale — 0.4% | ||||||||
| A-Mark Precious Metals, Inc. (b) | 15,551 | 470,418 | ||||||
| OPENLANE, Inc. (a) | 7,372 | 109,179 | ||||||
| Titan Machinery, Inc. (a) | 8,052 | 232,542 | ||||||
| 812,139 | ||||||||
| Entertainment — 0.6% | ||||||||
| Accel Entertainment, Inc. (a) | 31,010 | 318,473 | ||||||
| Everi Holdings, Inc. (a) | 37,098 | 418,095 | ||||||
| Six Flags Entertainment Corp. (a) | 21,530 | 539,972 | ||||||
| 1,276,540 | ||||||||
| Home Builders — 3.2% | ||||||||
| Cavco Industries, Inc. (a) | 912 | 316,118 | ||||||
| KB Home | 23,189 | 1,448,385 | ||||||
| Skyline Champion Corp. (a) | 17,078 | 1,268,212 | ||||||
| Taylor Morrison Home Corp. (a) | 29,656 | 1,582,148 | ||||||
| Winnebago Industries, Inc. | 24,281 | 1,769,599 | ||||||
| 6,384,462 | ||||||||
| Home Furnishing — 0.1% | ||||||||
| Vizio Holding Corp. Class A (a) | 29,389 | 226,295 | ||||||
| Leisure Time — 1.0% | ||||||||
| Brunswick Corp. | 13,992 | 1,353,726 | ||||||
| Malibu Boats, Inc. Class A (a) | 10,178 | 557,958 | ||||||
| Planet Fitness, Inc. Class A (a) | 914 | 66,722 | ||||||
| 1,978,406 | ||||||||
| Lodging — 0.2% | ||||||||
| Boyd Gaming Corp. | 5,871 | 367,583 | ||||||
| Retail — 4.9% | ||||||||
| Beacon Roofing Supply, Inc. (a) | 10,786 | 938,598 | ||||||
| Citi Trends, Inc. (a) | 37,723 | 1,066,806 | ||||||
| Dave & Buster's Entertainment, Inc. (a) | 12,724 | 685,187 | ||||||
| Dine Brands Global, Inc. | 22,495 | 1,116,877 | ||||||
| Genesco, Inc. (a) | 50,040 | 1,761,908 | ||||||
| GMS, Inc. (a) | 13,173 | 1,085,850 | ||||||
| MarineMax, Inc. (a) | 18,107 | 704,362 | ||||||
| OneWater Marine, Inc. Class A (a) | 15,152 | 511,986 | ||||||
| Papa John's International, Inc. | 18,211 | 1,388,225 | ||||||
| Penske Automotive Group, Inc. | 2,729 | 438,032 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Red Robin Gourmet Burgers, Inc. (a) | 8,248 | $ | 102,853 | |||||
| 9,800,684 | ||||||||
| 31,533,680 | ||||||||
| Consumer, Non-cyclical — 13.0% | ||||||||
| Agriculture — 0.1% | ||||||||
| Turning Point Brands, Inc. | 8,419 | 221,588 | ||||||
| Commercial Services — 6.8% | ||||||||
| ABM Industries, Inc. | 38,369 | 1,720,082 | ||||||
| Adtalem Global Education, Inc. (a) | 7,270 | 428,567 | ||||||
| AMN Healthcare Services, Inc. (a) | 18,605 | 1,393,143 | ||||||
| Barrett Business Services, Inc. | 1,609 | 186,322 | ||||||
| Brink's Co. | 13,273 | 1,167,360 | ||||||
| Deluxe Corp. | 25,008 | 536,422 | ||||||
| Euronet Worldwide, Inc. (a) | 9,272 | 941,015 | ||||||
| EVERTEC, Inc. | 35,252 | 1,443,217 | ||||||
| Herc Holdings, Inc. | 12,444 | 1,852,787 | ||||||
| ICF International, Inc. | 6,154 | 825,190 | ||||||
| Korn Ferry | 41,981 | 2,491,572 | ||||||
| Loomis AB | 12,799 | 341,002 | ||||||
| Repay Holdings Corp. (a) | 15,703 | 134,104 | ||||||
| 13,460,783 | ||||||||
| Cosmetics & Personal Care — 0.5% | ||||||||
| Edgewell Personal Care Co. | 26,778 | 980,878 | ||||||
| Food — 1.3% | ||||||||
| Hain Celestial Group, Inc. (a) | 93,301 | 1,021,646 | ||||||
| Nomad Foods Ltd. (a) | 96,061 | 1,628,234 | ||||||
| 2,649,880 | ||||||||
| Health Care – Products — 1.9% | ||||||||
| Embecta Corp. | 23,155 | 438,324 | ||||||
| Enovis Corp. (a) | 9,679 | 542,218 | ||||||
| Envista Holdings Corp. (a) | 51,016 | 1,227,445 | ||||||
| Integra LifeSciences Holdings Corp. (a) | 35,884 | 1,562,748 | ||||||
| 3,770,735 | ||||||||
| Health Care – Services — 1.9% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 15,279 | 1,188,095 | ||||||
| Fortrea Holdings, Inc. (a) | 41,426 | 1,445,767 | ||||||
| Pediatrix Medical Group, Inc. (a) | 129,230 | 1,201,839 | ||||||
| 3,835,701 | ||||||||
| Household Products & Wares — 0.5% | ||||||||
| Spectrum Brands Holdings, Inc. | 12,964 | 1,034,138 | ||||||
| 25,953,703 | ||||||||
| Energy — 6.1% | ||||||||
| Oil & Gas — 4.8% | ||||||||
| Chord Energy Corp. | 4,942 | 821,509 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| HF Sinclair Corp. | 21,152 | $ | 1,175,417 | |||||
| Mach Natural Resources LP (a) | 13,251 | 218,509 | ||||||
| Magnolia Oil & Gas Corp. Class A | 134,763 | 2,869,104 | ||||||
| Matador Resources Co. | 30,167 | 1,715,295 | ||||||
| Northern Oil & Gas, Inc. | 66,659 | 2,471,049 | ||||||
| Permian Resources Corp. | 28,543 | 388,185 | ||||||
| 9,659,068 | ||||||||
| Oil & Gas Services — 1.3% | ||||||||
| ChampionX Corp. | 90,616 | 2,646,893 | ||||||
| 12,305,961 | ||||||||
| Financial — 29.8% | ||||||||
| Banks — 17.2% | ||||||||
| 1st Source Corp. | 25,778 | 1,416,501 | ||||||
| Ameris Bancorp | 16,445 | 872,407 | ||||||
| Associated Banc-Corp. | 64,595 | 1,381,687 | ||||||
| Bank of Marin Bancorp | 32,926 | 725,031 | ||||||
| BankUnited, Inc. | 44,198 | 1,433,341 | ||||||
| Carter Bankshares, Inc. (a) | 61,815 | 925,371 | ||||||
| Columbia Banking System, Inc. | 34,894 | 930,972 | ||||||
| Comerica, Inc. | 31,150 | 1,738,481 | ||||||
| CVB Financial Corp. | 37,781 | 762,798 | ||||||
| First BanCorp | 153,548 | 2,525,865 | ||||||
| First Busey Corp. | 72,326 | 1,795,131 | ||||||
| First Interstate BancSystem, Inc. Class A | 19,839 | 610,049 | ||||||
| First Merchants Corp. | 7,986 | 296,121 | ||||||
| FNB Corp. | 99,397 | 1,368,697 | ||||||
| HarborOne Bancorp, Inc. | 109,015 | 1,306,000 | ||||||
| Heritage Financial Corp. | 78,592 | 1,681,083 | ||||||
| Home BancShares, Inc. | 44,635 | 1,130,605 | ||||||
| Nicolet Bankshares, Inc. | 10,952 | 881,417 | ||||||
| Old National Bancorp | 91,141 | 1,539,371 | ||||||
| Origin Bancorp, Inc. | 3,197 | 113,717 | ||||||
| Peoples Bancorp, Inc. | 26,658 | 899,974 | ||||||
| Popular, Inc. | 3,869 | 317,529 | ||||||
| Premier Financial Corp. | 61,921 | 1,492,296 | ||||||
| SouthState Corp. | 14,629 | 1,235,419 | ||||||
| Texas Capital Bancshares, Inc. (a) | 30,210 | 1,952,472 | ||||||
| TriCo Bancshares | 36,902 | 1,585,679 | ||||||
| UMB Financial Corp. | 9,730 | 812,941 | ||||||
| Valley National Bancorp | 94,553 | 1,026,846 | ||||||
| Walker & Dunlop, Inc. | 6,370 | 707,134 | ||||||
| Webster Financial Corp. | 17,527 | 889,671 | ||||||
| 34,354,606 | ||||||||
| Diversified Financial Services — 0.8% | ||||||||
| Enact Holdings, Inc. | 3,103 | 89,645 | ||||||
| Moelis & Co. Class A | 28,206 | 1,583,203 | ||||||
| 1,672,848 | ||||||||
| Insurance — 1.2% | ||||||||
| Axis Capital Holdings Ltd. | 21,035 | 1,164,708 | ||||||
| Fidelis Insurance Holdings Ltd. (a) | 21,087 | 267,172 | ||||||
| Hamilton Insurance Group Ltd. Class B (a) | 13,037 | 194,903 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hanover Insurance Group, Inc. | 6,789 | $ | 824,321 | |||||
| 2,451,104 | ||||||||
| Investment Companies — 0.6% | ||||||||
| Compass Diversified Holdings | 48,890 | 1,097,581 | ||||||
| Private Equity — 0.1% | ||||||||
| Patria Investments Ltd. Class A | 15,436 | 239,412 | ||||||
| Real Estate Investment Trusts (REITS) — 6.8% | ||||||||
| Acadia Realty Trust | 43,574 | 740,322 | ||||||
| Apartment Income REIT Corp. | 45,223 | 1,570,595 | ||||||
| Broadstone Net Lease, Inc. | 86,215 | 1,484,622 | ||||||
| CareTrust REIT, Inc. | 29,893 | 669,005 | ||||||
| First Industrial Realty Trust, Inc. | 28,838 | 1,518,898 | ||||||
| Kite Realty Group Trust | 5,322 | 121,661 | ||||||
| National Storage Affiliates Trust | 31,158 | 1,292,122 | ||||||
| NETSTREIT Corp. | 72,545 | 1,294,928 | ||||||
| Ryman Hospitality Properties, Inc. | 21,677 | 2,385,771 | ||||||
| STAG Industrial, Inc. | 33,467 | 1,313,914 | ||||||
| Terreno Realty Corp. | 12,452 | 780,367 | ||||||
| UMH Properties, Inc. | 25,036 | 383,552 | ||||||
| 13,555,757 | ||||||||
| Savings & Loans — 3.1% | ||||||||
| Axos Financial, Inc. (a) | 2,263 | 123,560 | ||||||
| Berkshire Hills Bancorp, Inc. | 59,243 | 1,471,004 | ||||||
| Pacific Premier Bancorp, Inc. | 88,150 | 2,566,046 | ||||||
| Provident Financial Services, Inc. | 14,074 | 253,754 | ||||||
| WSFS Financial Corp. | 40,660 | 1,867,514 | ||||||
| 6,281,878 | ||||||||
| 59,653,186 | ||||||||
| Industrial — 17.1% | ||||||||
| Aerospace & Defense — 0.8% | ||||||||
| Spirit AeroSystems Holdings, Inc. Class A (a) | 50,570 | 1,607,115 | ||||||
| Building Materials — 0.4% | ||||||||
| Tecnoglass, Inc. | 18,020 | 823,694 | ||||||
| Electrical Components & Equipment — 1.7% | ||||||||
| Belden, Inc. | 19,107 | 1,476,016 | ||||||
| Encore Wire Corp. | 8,907 | 1,902,535 | ||||||
| 3,378,551 | ||||||||
| Electronics — 2.1% | ||||||||
| Atmus Filtration Technologies, Inc. (a) | 9,913 | 232,856 | ||||||
| Avnet, Inc. | 22,734 | 1,145,794 | ||||||
| Coherent Corp. (a) | 27,717 | 1,206,521 | ||||||
| TTM Technologies, Inc. (a) | 84,301 | 1,332,799 | ||||||
| Vontier Corp. | 6,341 | 219,081 | ||||||
| 4,137,051 | ||||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Engineering & Construction — 3.7% | ||||||||
| Dycom Industries, Inc. (a) | 18,149 | $ | 2,088,768 | |||||
| Fluor Corp. (a) | 39,391 | 1,542,946 | ||||||
| Great Lakes Dredge & Dock Corp. (a) | 195,153 | 1,498,775 | ||||||
| MasTec, Inc. (a) | 24,581 | 1,861,273 | ||||||
| NV5 Global, Inc. (a) | 3,062 | 340,250 | ||||||
| 7,332,012 | ||||||||
| Hand & Machine Tools — 0.0% | ||||||||
| Luxfer Holdings PLC | 5,382 | 48,115 | ||||||
| Machinery – Diversified — 2.7% | ||||||||
| Cactus, Inc. Class A | 50,187 | 2,278,490 | ||||||
| DXP Enterprises, Inc. (a) | 6,003 | 202,301 | ||||||
| Gates Industrial Corp. PLC (a) | 110,277 | 1,479,917 | ||||||
| Ichor Holdings Ltd. (a) | 40,808 | 1,372,373 | ||||||
| 5,333,081 | ||||||||
| Metal Fabricate & Hardware — 1.9% | ||||||||
| Hillman Solutions Corp. (a) | 262,042 | 2,413,407 | ||||||
| Timken Co. | 16,758 | 1,343,154 | ||||||
| 3,756,561 | ||||||||
| Miscellaneous - Manufacturing — 0.0% | ||||||||
| DIRTT Environmental Solutions (a) (b) | 61,401 | 21,306 | ||||||
| Packaging & Containers — 1.7% | ||||||||
| Graphic Packaging Holding Co. | 64,551 | 1,591,182 | ||||||
| Karat Packaging, Inc. | 2,581 | 64,138 | ||||||
| Pactiv Evergreen, Inc. | 41,440 | 568,142 | ||||||
| Silgan Holdings, Inc. | 28,592 | 1,293,788 | ||||||
| 3,517,250 | ||||||||
| Transportation — 2.1% | ||||||||
| ArcBest Corp. | 14,781 | 1,776,824 | ||||||
| International Seaways, Inc. | 26,838 | 1,220,592 | ||||||
| Star Bulk Carriers Corp. | 59,432 | 1,263,525 | ||||||
| 4,260,941 | ||||||||
| 34,215,677 | ||||||||
| Technology — 7.9% | ||||||||
| Computers — 0.9% | ||||||||
| Grid Dynamics Holdings, Inc. (a) | 108,876 | 1,451,317 | ||||||
| Science Applications International Corp. | 2,572 | 319,751 | ||||||
| 1,771,068 | ||||||||
| Semiconductors — 5.0% | ||||||||
| Amkor Technology, Inc. | 55,629 | 1,850,777 | ||||||
| Cohu, Inc. (a) | 44,924 | 1,589,860 | ||||||
| FormFactor, Inc. (a) | 23,756 | 990,863 | ||||||
| Kulicke & Soffa Industries, Inc. | 18,052 | 987,805 | ||||||
| Magnachip Semiconductor Corp. (a) | 102,067 | 765,503 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| MKS Instruments, Inc. | 1,849 | $ | 190,207 | |||||
| SMART Global Holdings, Inc. (a) | 89,587 | 1,695,882 | ||||||
| Synaptics, Inc. (a) | 16,364 | 1,866,805 | ||||||
| 9,937,702 | ||||||||
| Software — 2.0% | ||||||||
| ACI Worldwide, Inc. (a) | 48,669 | 1,489,271 | ||||||
| CommVault Systems, Inc. (a) | 11,082 | 884,898 | ||||||
| Donnelley Financial Solutions, Inc. (a) | 964 | 60,125 | ||||||
| IBEX Holdings Ltd. (a) | 10,386 | 197,438 | ||||||
| Teradata Corp. (a) | 25,798 | 1,122,471 | ||||||
| Verra Mobility Corp. (a) | 12,978 | 298,883 | ||||||
| 4,053,086 | ||||||||
| 15,761,856 | ||||||||
| Utilities — 2.2% | ||||||||
| Electric — 1.9% | ||||||||
| ALLETE, Inc. | 4,921 | 300,968 | ||||||
| IDACORP, Inc. | 18,256 | 1,794,930 | ||||||
| Portland General Electric Co. | 37,353 | 1,618,879 | ||||||
| 3,714,777 | ||||||||
| Gas — 0.3% | ||||||||
| Northwest Natural Holding Co. | 2,772 | 107,942 | ||||||
| Southwest Gas Holdings, Inc. | 8,534 | 540,629 | ||||||
| 648,571 | ||||||||
| 4,363,348 | ||||||||
| TOTAL COMMON STOCK (Cost $194,001,376) | 199,165,956 | |||||||
| TOTAL EQUITIES (Cost $194,001,376) | 199,165,956 | |||||||
| RIGHTS — 0.0% | ||||||||
| Industrial — 0.0% | ||||||||
| Miscellaneous - Manufacturing — 0.0% | ||||||||
| DIRTT Environmental Solutions (a) | 61,401 | 1,228 | ||||||
| TOTAL RIGHTS (Cost $21,173) | 1,228 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $194,022,549) | 199,167,184 | |||||||
| SHORT-TERM INVESTMENTS — 1.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 502,448 | 502,448 | ||||||
| MassMutual Small Company Value Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Repurchase Agreement — 1.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 1,960,227 | $ | 1,960,227 | ||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,462,675) | 2,462,675 | |||||||
| TOTAL INVESTMENTS — 100.8% (Cost $196,485,224) (e) | 201,629,859 | |||||||
| Other Assets/(Liabilities) — (0.8)% | (1,604,246) | |||||||
| NET ASSETS — 100.0% | $ | 200,025,613 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $473,943 or 0.24% of net assets. (Note 2). |
| (c) | Represents investment of security lending cash collateral. (Note 2). |
| (d) | Maturity value of $1,960,576. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,999,499. |
| (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 | 3/28/24 | SEK | 141,429 | USD | 14,154 | $ | (85) | |||||||||
| UBS AG | 3/28/24 | USD | 308,033 | SEK | 3,128,844 | (3,216) | ||||||||||
| $ | (3,301) | |||||||||||||||
Currency Legend
| SEK | Swedish Krona |
| USD | U.S. Dollar |
| MassMutual Mid Cap Growth Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.1% | ||||||||
| COMMON STOCK — 97.8% | ||||||||
| Basic Materials — 0.8% | ||||||||
| Chemicals — 0.4% | ||||||||
| Albemarle Corp. (a) | 18,823 | $ | 2,719,547 | |||||
| RPM International, Inc. | 178,200 | 19,892,466 | ||||||
| 22,612,013 | ||||||||
| Iron & Steel — 0.4% | ||||||||
| ATI, Inc. (b) | 442,196 | 20,106,652 | ||||||
| 42,718,665 | ||||||||
| Communications — 4.8% | ||||||||
| Advertising — 1.6% | ||||||||
| Trade Desk, Inc. Class A (b) | 1,207,406 | 86,884,936 | ||||||
| Internet — 2.0% | ||||||||
| Maplebear, Inc., Lockup Shares (Acquired 11/19/21, Cost $11,962,092) (b) (c) (d) | 98,930 | 2,321,887 | ||||||
| Match Group, Inc. (b) | 381,416 | 13,921,684 | ||||||
| Palo Alto Networks, Inc. (b) | 49,970 | 14,735,154 | ||||||
| Pinterest, Inc. Class A (b) | 443,588 | 16,430,499 | ||||||
| Spotify Technology SA (b) | 297,500 | 55,903,225 | ||||||
| 103,312,449 | ||||||||
| Media — 0.9% | ||||||||
| Liberty Media Corp-Liberty Formula One Class C (b) | 423,624 | 26,743,383 | ||||||
| New York Times Co. Class A | 380,200 | 18,625,998 | ||||||
| 45,369,381 | ||||||||
| Telecommunications — 0.3% | ||||||||
| Arista Networks, Inc. (b) | 76,660 | 18,054,197 | ||||||
| 253,620,963 | ||||||||
| Consumer, Cyclical — 14.3% | ||||||||
| Airlines — 0.4% | ||||||||
| Southwest Airlines Co. | 672,500 | 19,421,800 | ||||||
| Apparel — 0.2% | ||||||||
| Birkenstock Holding PLC (a) (b) | 193,558 | 9,432,081 | ||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| BorgWarner, Inc. | 205,348 | 7,361,726 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Mobileye Global, Inc. Class A (a) (b) | 122,400 | $ | 5,302,368 | |||||
| 12,664,094 | ||||||||
| Entertainment — 0.6% | ||||||||
| Caesars Entertainment, Inc. (b) | 628,971 | 29,486,161 | ||||||
| Leisure Time — 0.1% | ||||||||
| Planet Fitness, Inc. Class A (b) | 76,802 | 5,606,546 | ||||||
| Lodging — 2.0% | ||||||||
| Boyd Gaming Corp. | 182,734 | 11,440,976 | ||||||
| Hilton Worldwide Holdings, Inc. | 416,000 | 75,749,440 | ||||||
| MGM Resorts International | 470,709 | 21,031,278 | ||||||
| 108,221,694 | ||||||||
| Retail — 10.4% | ||||||||
| Bath & Body Works, Inc. | 766,000 | 33,060,560 | ||||||
| Beacon Roofing Supply, Inc. (b) | 213,132 | 18,546,747 | ||||||
| Burlington Stores, Inc. (b) | 342,151 | 66,541,526 | ||||||
| Casey's General Stores, Inc. | 117,800 | 32,364,372 | ||||||
| Chipotle Mexican Grill, Inc. (b) | 14,336 | 32,785,859 | ||||||
| Dollar General Corp. | 175,050 | 23,798,047 | ||||||
| Dollar Tree, Inc. (b) | 321,100 | 45,612,255 | ||||||
| Domino's Pizza, Inc. | 194,016 | 79,979,216 | ||||||
| Five Below, Inc. (b) | 170,000 | 36,237,200 | ||||||
| Lithia Motors, Inc. | 31,791 | 10,468,140 | ||||||
| Lululemon Athletica, Inc. (b) | 40,300 | 20,604,987 | ||||||
| O'Reilly Automotive, Inc. (b) | 5,500 | 5,225,440 | ||||||
| Ross Stores, Inc. | 470,767 | 65,149,445 | ||||||
| Tractor Supply Co. | 73,452 | 15,794,384 | ||||||
| Ulta Beauty, Inc. (b) | 48,900 | 23,960,511 | ||||||
| Yum! Brands, Inc. | 342,459 | 44,745,693 | ||||||
| 554,874,382 | ||||||||
| Toys, Games & Hobbies — 0.4% | ||||||||
| Mattel, Inc. (b) | 990,321 | 18,697,260 | ||||||
| 758,404,018 | ||||||||
| Consumer, Non-cyclical — 31.0% | ||||||||
| Beverages — 0.2% | ||||||||
| Boston Beer Co., Inc. Class A (b) | 34,000 | 11,750,060 | ||||||
| Biotechnology — 3.7% | ||||||||
| Alnylam Pharmaceuticals, Inc. (b) | 226,600 | 43,373,506 | ||||||
| Apellis Pharmaceuticals, Inc. (a) (b) | 185,000 | 11,074,100 | ||||||
| Argenx SE ADR (b) | 57,200 | 21,760,596 | ||||||
| Biogen, Inc. (b) | 120,400 | 31,155,908 | ||||||
| BioMarin Pharmaceutical, Inc. (b) | 69,907 | 6,740,433 | ||||||
| CRISPR Therapeutics AG (a) (b) | 156,900 | 9,821,940 | ||||||
| Ionis Pharmaceuticals, Inc. (b) | 635,000 | 32,124,650 | ||||||
| Karuna Therapeutics, Inc. (a) (b) | 88,000 | 27,852,880 | ||||||
| Sarepta Therapeutics, Inc. (b) | 122,569 | 11,819,329 | ||||||
| 195,723,342 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Commercial Services — 7.7% | ||||||||
| Bright Horizons Family Solutions, Inc. (a) (b) | 277,226 | $ | 26,125,778 | |||||
| Cintas Corp. | 16,631 | 10,022,838 | ||||||
| CoStar Group, Inc. (b) | 521,051 | 45,534,647 | ||||||
| Equifax, Inc. | 296,805 | 73,396,908 | ||||||
| FleetCor Technologies, Inc. (b) | 121,200 | 34,252,332 | ||||||
| Gartner, Inc. (b) | 17,105 | 7,716,237 | ||||||
| Global Payments, Inc. | 126,931 | 16,120,237 | ||||||
| MarketAxess Holdings, Inc. | 82,000 | 24,013,700 | ||||||
| Moody's Corp. | 18,711 | 7,307,768 | ||||||
| Paylocity Holding Corp. (b) | 203,200 | 33,497,520 | ||||||
| Quanta Services, Inc. | 125,561 | 27,096,064 | ||||||
| TransUnion | 557,636 | 38,315,170 | ||||||
| United Rentals, Inc. | 71,000 | 40,712,820 | ||||||
| Verisk Analytics, Inc. | 97,200 | 23,217,192 | ||||||
| 407,329,211 | ||||||||
| Cosmetics & Personal Care — 0.3% | ||||||||
| Kenvue, Inc. | 605,882 | 13,044,639 | ||||||
| Food — 0.3% | ||||||||
| TreeHouse Foods, Inc. (b) | 362,000 | 15,004,900 | ||||||
| Health Care – Products — 13.7% | ||||||||
| Agilent Technologies, Inc. | 822,864 | 114,402,782 | ||||||
| Alcon, Inc. (a) | 598,491 | 46,754,117 | ||||||
| Align Technology, Inc. (b) | 30,415 | 8,333,710 | ||||||
| Avantor, Inc. (b) | 2,714,700 | 61,976,601 | ||||||
| Bruker Corp. | 737,047 | 54,158,214 | ||||||
| Cooper Cos., Inc. | 113,700 | 43,028,628 | ||||||
| Enovis Corp. (b) | 426,000 | 23,864,520 | ||||||
| Exact Sciences Corp. (b) | 311,949 | 23,077,987 | ||||||
| GE HealthCare Technologies, Inc. (b) | 60,089 | 4,646,081 | ||||||
| Hologic, Inc. (b) | 1,656,021 | 118,322,700 | ||||||
| IDEXX Laboratories, Inc. (b) | 45,298 | 25,142,655 | ||||||
| Inspire Medical Systems, Inc. (a) (b) | 132,453 | 26,944,914 | ||||||
| Natera, Inc. (b) | 226,788 | 14,206,000 | ||||||
| Quidelortho Corp. (b) | 369,500 | 27,232,150 | ||||||
| Steris PLC | 76,867 | 16,899,210 | ||||||
| Teleflex, Inc. | 372,083 | 92,775,175 | ||||||
| West Pharmaceutical Services, Inc. | 76,300 | 26,866,756 | ||||||
| 728,632,200 | ||||||||
| Health Care – Services — 2.6% | ||||||||
| Acadia Healthcare Co., Inc. (b) | 560,900 | 43,615,584 | ||||||
| agilon health, Inc. (a) (b) | 618,609 | 7,763,543 | ||||||
| Catalent, Inc. (b) | 623,177 | 27,999,343 | ||||||
| Humana, Inc. | 30,105 | 13,782,370 | ||||||
| IQVIA Holdings, Inc. (b) | 51,248 | 11,857,762 | ||||||
| Molina Healthcare, Inc. (b) | 97,000 | 35,047,070 | ||||||
| 140,065,672 | ||||||||
| Household Products & Wares — 1.3% | ||||||||
| Avery Dennison Corp. | 269,300 | 54,441,688 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Reynolds Consumer Products, Inc. | 532,500 | $ | 14,292,300 | |||||
| 68,733,988 | ||||||||
| Pharmaceuticals — 1.2% | ||||||||
| Ascendis Pharma AS ADR (b) | 157,000 | 19,774,150 | ||||||
| DENTSPLY SIRONA, Inc. | 494,930 | 17,614,559 | ||||||
| Dexcom, Inc. (b) | 219,566 | 27,245,945 | ||||||
| 64,634,654 | ||||||||
| 1,644,918,666 | ||||||||
| Energy — 4.4% | ||||||||
| Energy – Alternate Sources — 0.4% | ||||||||
| Array Technologies, Inc. (b) | 787,761 | 13,234,385 | ||||||
| Shoals Technologies Group, Inc. Class A (b) | 353,000 | 5,485,620 | ||||||
| 18,720,005 | ||||||||
| Oil & Gas — 2.5% | ||||||||
| Chesapeake Energy Corp. (a) | 134,500 | 10,348,430 | ||||||
| Coterra Energy, Inc. | 1,290,307 | 32,928,635 | ||||||
| EQT Corp. | 873,200 | 33,757,912 | ||||||
| Permian Resources Corp. | 1,182,829 | 16,086,474 | ||||||
| Pioneer Natural Resources Co. | 26,900 | 6,049,272 | ||||||
| Range Resources Corp. | 470,300 | 14,315,932 | ||||||
| SM Energy Co. | 425,550 | 16,477,296 | ||||||
| Weatherford International PLC (b) | 47,100 | 4,607,793 | ||||||
| 134,571,744 | ||||||||
| Oil & Gas Services — 0.5% | ||||||||
| TechnipFMC PLC | 1,410,834 | 28,414,197 | ||||||
| Pipelines — 1.0% | ||||||||
| Cheniere Energy, Inc. | 314,400 | 53,671,224 | ||||||
| 235,377,170 | ||||||||
| Financial — 6.8% | ||||||||
| Diversified Financial Services — 3.4% | ||||||||
| Apollo Global Management, Inc. | 362,639 | 33,794,328 | ||||||
| Cboe Global Markets, Inc. | 34,000 | 6,071,040 | ||||||
| FTAI Aviation Ltd. | 381,808 | 17,715,891 | ||||||
| Intercontinental Exchange, Inc. | 359,000 | 46,106,370 | ||||||
| Nasdaq, Inc. | 92,455 | 5,375,334 | ||||||
| Raymond James Financial, Inc. | 234,000 | 26,091,000 | ||||||
| Tradeweb Markets, Inc. Class A | 490,100 | 44,540,288 | ||||||
| 179,694,251 | ||||||||
| Insurance — 1.5% | ||||||||
| Aon PLC Class A | 39,596 | 11,523,228 | ||||||
| Assurant, Inc. | 265,800 | 44,784,642 | ||||||
| Axis Capital Holdings Ltd. | 203,800 | 11,284,406 | ||||||
| Markel Group, Inc. (b) | 10,100 | 14,340,990 | ||||||
| 81,933,266 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Private Equity — 1.8% | ||||||||
| Carlyle Group, Inc. | 166,779 | $ | 6,786,237 | |||||
| KKR & Co., Inc. | 1,044,482 | 86,535,334 | ||||||
| 93,321,571 | ||||||||
| Real Estate Investment Trusts (REITS) — 0.1% | ||||||||
| First Industrial Realty Trust, Inc. | 152,032 | 8,007,526 | ||||||
| 362,956,614 | ||||||||
| Industrial — 15.4% | ||||||||
| Aerospace & Defense — 0.3% | ||||||||
| Howmet Aerospace, Inc. | 82,000 | 4,437,840 | ||||||
| L3 Harris Technologies, Inc. | 58,650 | 12,352,863 | ||||||
| 16,790,703 | ||||||||
| Building Materials — 1.9% | ||||||||
| Builders FirstSource, Inc. (b) | 163,138 | 27,234,257 | ||||||
| Eagle Materials, Inc. | 92,412 | 18,744,850 | ||||||
| Martin Marietta Materials, Inc. | 107,000 | 53,383,370 | ||||||
| 99,362,477 | ||||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| Littelfuse, Inc. | 30,000 | 8,026,800 | ||||||
| Electronics — 3.2% | ||||||||
| Amphenol Corp. Class A | 469,287 | 46,520,420 | ||||||
| Fortive Corp. | 592,400 | 43,618,412 | ||||||
| Keysight Technologies, Inc. (b) | 346,000 | 55,045,140 | ||||||
| Mettler-Toledo International, Inc. (b) | 21,611 | 26,213,279 | ||||||
| 171,397,251 | ||||||||
| Engineering & Construction — 0.1% | ||||||||
| MasTec, Inc. (b) | 69,468 | 5,260,117 | ||||||
| Environmental Controls — 0.8% | ||||||||
| Veralto Corp. | 271,800 | 22,358,268 | ||||||
| Waste Connections, Inc. | 123,464 | 18,429,471 | ||||||
| 40,787,739 | ||||||||
| Hand & Machine Tools — 0.1% | ||||||||
| Stanley Black & Decker, Inc. | 63,528 | 6,232,097 | ||||||
| Machinery – Construction & Mining — 0.7% | ||||||||
| BWX Technologies, Inc. | 454,722 | 34,890,819 | ||||||
| Machinery – Diversified — 2.8% | ||||||||
| Cognex Corp. | 324,400 | 13,540,456 | ||||||
| Esab Corp. | 420,000 | 36,380,400 | ||||||
| IDEX Corp. | 113,000 | 24,533,430 | ||||||
| Ingersoll Rand, Inc. | 941,600 | 72,823,344 | ||||||
| 147,277,630 | ||||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Miscellaneous - Manufacturing — 1.3% | ||||||||
| Textron, Inc. | 889,900 | $ | 71,565,758 | |||||
| Packaging & Containers — 1.8% | ||||||||
| Ball Corp. | 1,204,300 | 69,271,336 | ||||||
| Sealed Air Corp. | 683,000 | 24,943,160 | ||||||
| 94,214,496 | ||||||||
| Transportation — 2.3% | ||||||||
| JB Hunt Transport Services, Inc. | 398,578 | 79,611,970 | ||||||
| Knight-Swift Transportation Holdings, Inc. | 151,525 | 8,735,416 | ||||||
| XPO, Inc. (b) | 364,315 | 31,910,351 | ||||||
| 120,257,737 | ||||||||
| 816,063,624 | ||||||||
| Technology — 20.3% | ||||||||
| Computers — 3.9% | ||||||||
| Cognizant Technology Solutions Corp. Class A | 273,697 | 20,672,334 | ||||||
| Crowdstrike Holdings, Inc. Class A (b) | 416,169 | 106,256,269 | ||||||
| EPAM Systems, Inc. (b) | 82,399 | 24,500,519 | ||||||
| Fortinet, Inc. (b) | 369,900 | 21,650,247 | ||||||
| KBR, Inc. | 556,554 | 30,838,657 | ||||||
| Pure Storage, Inc. Class A (b) | 134,500 | 4,796,270 | ||||||
| 208,714,296 | ||||||||
| Semiconductors — 7.5% | ||||||||
| KLA Corp. | 68,576 | 39,863,229 | ||||||
| Lam Research Corp. | 10,898 | 8,535,967 | ||||||
| Lattice Semiconductor Corp. (b) | 611,000 | 42,152,890 | ||||||
| Marvell Technology, Inc. | 2,067,349 | 124,681,818 | ||||||
| Microchip Technology, Inc. | 1,499,975 | 135,267,746 | ||||||
| Monolithic Power Systems, Inc. | 44,338 | 27,967,524 | ||||||
| NXP Semiconductors NV | 91,700 | 21,061,656 | ||||||
| 399,530,830 | ||||||||
| Software — 8.9% | ||||||||
| Atlassian Corp. Class A (b) | 89,000 | 21,169,540 | ||||||
| Bill Holdings, Inc. (b) | 108,762 | 8,873,891 | ||||||
| Broadridge Financial Solutions, Inc. | 173,900 | 35,779,925 | ||||||
| CCC Intelligent Solutions Holdings, Inc. (b) | 2,375,801 | 27,060,373 | ||||||
| Clear Secure, Inc. Class A | 241,000 | 4,976,650 | ||||||
| Fair Isaac Corp. (b) | 60,570 | 70,504,086 | ||||||
| Guidewire Software, Inc. (b) | 184,132 | 20,077,753 | ||||||
| HubSpot, Inc. (b) | 29,770 | 17,282,676 | ||||||
| MongoDB, Inc. (b) | 80,156 | 32,771,780 | ||||||
| MSCI, Inc. | 27,377 | 15,485,800 | ||||||
| Palantir Technologies, Inc. Class A (b) | 147,457 | 2,531,837 | ||||||
| PTC, Inc. (b) | 347,856 | 60,860,886 | ||||||
| Roper Technologies, Inc. | 56,000 | 30,529,520 | ||||||
| Twilio, Inc. Class A (b) | 89,540 | 6,793,400 | ||||||
| Tyler Technologies, Inc. (b) | 72,700 | 30,397,324 | ||||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Veeva Systems, Inc. Class A (b) | 453,086 | $ | 87,228,117 | |||||
| 472,323,558 | ||||||||
| 1,080,568,684 | ||||||||
| TOTAL COMMON STOCK (Cost $4,011,211,538) | 5,194,628,404 | |||||||
| PREFERRED STOCK — 0.3% | ||||||||
| Consumer, Cyclical — 0.0% | ||||||||
| Auto Manufacturers — 0.0% | ||||||||
| Nuro, Inc., Series D (Acquired 10/29/21, Cost $3,125,295) (b) (c) (d) (e) | 149,925 | 613,193 | ||||||
| Consumer, Non-cyclical — 0.1% | ||||||||
| Commercial Services — 0.1% | ||||||||
| Redwood Materials, Inc., Series C (Acquired 5/28/21, Cost $3,678,889) (b) (c) (d) (e) | 77,608 | 3,704,685 | ||||||
| Health Care – Services — 0.0% | ||||||||
| Caris Life Sciences, Inc., Series D (Acquired 5/11/21, Cost $5,006,003) (b) (c) (d) (e) | 618,025 | 2,249,611 | ||||||
| 5,954,296 | ||||||||
| Industrial — 0.1% | ||||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $7,310,569) (b) (c) (d) (e) | 177,128 | 3,592,156 | ||||||
| Technology — 0.1% | ||||||||
| Software — 0.1% | ||||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $3,472,860) (b) (c) (d) (e) | 47,260 | 3,473,610 | ||||||
| TOTAL PREFERRED STOCK (Cost $22,593,615) | 13,633,255 | |||||||
| TOTAL EQUITIES (Cost $4,033,805,153) | 5,208,261,659 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $4,033,805,153) | 5,208,261,659 | |||||||
| SHORT-TERM INVESTMENTS — 2.3% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (f) | 10,848,740 | 10,848,740 | ||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Treasury Reserve Fund | 68,706 | 68,706 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 2.1% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (g) | $ | 113,443,087 | 113,443,087 | |||||
| MassMutual Mid Cap Growth Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $124,360,533) | $ | 124,360,533 | ||||||
| TOTAL INVESTMENTS — 100.4% (Cost $4,158,165,686) (h) | 5,332,622,192 | |||||||
| Other Assets/(Liabilities) — (0.4)% | (19,611,109) | |||||||
| NET ASSETS — 100.0% | $ | 5,313,011,083 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $118,996,986 or 2.24% of net assets. The Fund received $110,716,341 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) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $15,955,142 or 0.30% of net assets. |
| (d) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $15,955,142 or 0.30% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Represents investment of security lending cash collateral. (Note 2). |
| (g) | Maturity value of $113,463,254. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 4.875%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $115,712,057. |
| (h) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.7% | ||||||||
| COMMON STOCK — 98.7% | ||||||||
| Basic Materials — 3.1% | ||||||||
| Chemicals — 2.1% | ||||||||
| Cabot Corp. | 106,234 | $ | 8,870,539 | |||||
| Element Solutions, Inc. | 73,650 | 1,704,261 | ||||||
| Livent Corp. (a) (b) | 242,721 | 4,364,124 | ||||||
| Methanex Corp. | 62,648 | 2,967,009 | ||||||
| 17,905,933 | ||||||||
| Iron & Steel — 1.0% | ||||||||
| ATI, Inc. (a) | 91,716 | 4,170,327 | ||||||
| Carpenter Technology Corp. | 55,059 | 3,898,177 | ||||||
| 8,068,504 | ||||||||
| 25,974,437 | ||||||||
| Communications — 3.7% | ||||||||
| Internet — 2.1% | ||||||||
| Cargurus, Inc. (a) | 165,631 | 4,001,645 | ||||||
| Criteo SA Sponsored ADR (a) | 76,863 | 1,946,171 | ||||||
| ePlus, Inc. (a) | 22,077 | 1,762,628 | ||||||
| Eventbrite, Inc. Class A (a) | 307,853 | 2,573,651 | ||||||
| Perficient, Inc. (a) | 36,609 | 2,409,604 | ||||||
| Squarespace, Inc. Class A (a) | 68,696 | 2,267,655 | ||||||
| Ziff Davis, Inc. (a) | 37,767 | 2,537,565 | ||||||
| 17,498,919 | ||||||||
| Media — 0.4% | ||||||||
| New York Times Co. Class A | 63,314 | 3,101,753 | ||||||
| Telecommunications — 1.2% | ||||||||
| Calix, Inc. (a) | 139,537 | 6,096,371 | ||||||
| Credo Technology Group Holding Ltd. (a) | 87,743 | 1,708,356 | ||||||
| Viavi Solutions, Inc. (a) | 239,183 | 2,408,573 | ||||||
| 10,213,300 | ||||||||
| 30,813,972 | ||||||||
| Consumer, Cyclical — 10.8% | ||||||||
| Apparel — 0.9% | ||||||||
| Carter's, Inc. | 26,046 | 1,950,585 | ||||||
| Crocs, Inc. (a) | 26,552 | 2,480,222 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Steven Madden Ltd. (b) | 71,339 | $ | 2,996,238 | |||||
| 7,427,045 | ||||||||
| Auto Parts & Equipment — 0.3% | ||||||||
| Visteon Corp. (a) | 18,169 | 2,269,308 | ||||||
| Distribution & Wholesale — 1.4% | ||||||||
| H&E Equipment Services, Inc. | 82,404 | 4,311,377 | ||||||
| Rush Enterprises, Inc. Class A | 140,460 | 7,065,138 | ||||||
| 11,376,515 | ||||||||
| Entertainment — 1.2% | ||||||||
| Cinemark Holdings, Inc. (a) | 140,725 | 1,982,815 | ||||||
| Red Rock Resorts, Inc. Class A | 90,287 | 4,815,006 | ||||||
| TKO Group Holdings, Inc. | 40,189 | 3,278,619 | ||||||
| 10,076,440 | ||||||||
| Food Services — 0.2% | ||||||||
| Sovos Brands, Inc. (a) (b) | 80,035 | 1,763,171 | ||||||
| Home Builders — 1.9% | ||||||||
| Century Communities, Inc. | 28,439 | 2,591,930 | ||||||
| Meritage Home Corp. | 19,179 | 3,340,982 | ||||||
| Skyline Champion Corp. (a) | 89,777 | 6,666,840 | ||||||
| Taylor Morrison Home Corp. (a) | 69,762 | 3,721,803 | ||||||
| 16,321,555 | ||||||||
| Leisure Time — 0.8% | ||||||||
| Acushnet Holdings Corp. | 32,853 | 2,075,324 | ||||||
| YETI Holdings, Inc. (a) | 97,406 | 5,043,683 | ||||||
| 7,119,007 | ||||||||
| Lodging — 0.4% | ||||||||
| Boyd Gaming Corp. | 51,397 | 3,217,966 | ||||||
| Retail — 3.7% | ||||||||
| Boot Barn Holdings, Inc. (a) | 46,331 | 3,556,368 | ||||||
| Cava Group, Inc. (a) | 24,213 | 1,040,675 | ||||||
| Freshpet, Inc. (a) | 28,230 | 2,449,235 | ||||||
| Ollie's Bargain Outlet Holdings, Inc. (a) | 33,369 | 2,532,373 | ||||||
| Papa John's International, Inc. | 32,534 | 2,480,067 | ||||||
| Patrick Industries, Inc. | 14,458 | 1,450,860 | ||||||
| Shake Shack, Inc. Class A (a) | 28,201 | 2,090,258 | ||||||
| Texas Roadhouse, Inc. | 27,028 | 3,303,632 | ||||||
| Wingstop, Inc. | 47,466 | 12,178,826 | ||||||
| 31,082,294 | ||||||||
| 90,653,301 | ||||||||
| Consumer, Non-cyclical — 23.2% | ||||||||
| Beverages — 0.9% | ||||||||
| Celsius Holdings, Inc. (a) (b) | 142,144 | 7,749,691 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Biotechnology — 6.5% | ||||||||
| Akero Therapeutics, Inc. (a) | 49,642 | $ | 1,159,141 | |||||
| Amicus Therapeutics, Inc. (a) | 163,777 | 2,323,996 | ||||||
| Apellis Pharmaceuticals, Inc. (a) (b) | 44,379 | 2,656,527 | ||||||
| Blueprint Medicines Corp. (a) | 31,240 | 2,881,578 | ||||||
| Celldex Therapeutics, Inc. (a) | 47,238 | 1,873,459 | ||||||
| Crinetics Pharmaceuticals, Inc. (a) | 84,531 | 3,007,613 | ||||||
| Cytokinetics, Inc. (a) | 85,548 | 7,142,402 | ||||||
| Halozyme Therapeutics, Inc. (a) | 40,967 | 1,514,140 | ||||||
| Immatics NV (a) | 190,693 | 2,007,997 | ||||||
| Immunocore Holdings PLC ADR (a) (b) | 22,190 | 1,516,021 | ||||||
| ImmunoGen, Inc. (a) | 37,900 | 1,123,735 | ||||||
| Intellia Therapeutics, Inc. (a) | 25,513 | 777,891 | ||||||
| Intra-Cellular Therapies, Inc. (a) | 80,529 | 5,767,487 | ||||||
| Karuna Therapeutics, Inc. (a) (b) | 6,162 | 1,950,335 | ||||||
| Kymera Therapeutics, Inc. (a) (b) | 58,141 | 1,480,270 | ||||||
| Myriad Genetics, Inc. (a) | 116,379 | 2,227,494 | ||||||
| Prothena Corp. PLC (a) | 16,014 | 581,949 | ||||||
| PTC Therapeutics, Inc. (a) | 30,784 | 848,407 | ||||||
| Revolution Medicines, Inc. (a) | 81,893 | 2,348,691 | ||||||
| Rocket Pharmaceuticals, Inc. (a) | 132,182 | 3,961,494 | ||||||
| Structure Therapeutics, Inc. ADR (a) | 38,743 | 1,579,165 | ||||||
| Syndax Pharmaceuticals, Inc. (a) | 66,836 | 1,444,326 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 18,646 | 891,652 | ||||||
| Veracyte, Inc. (a) | 73,107 | 2,011,173 | ||||||
| Xenon Pharmaceuticals, Inc. (a) | 25,286 | 1,164,673 | ||||||
| 54,241,616 | ||||||||
| Commercial Services — 2.7% | ||||||||
| Cross Country Healthcare, Inc. (a) (b) | 92,001 | 2,082,903 | ||||||
| European Wax Center, Inc. Class A (a) | 92,468 | 1,256,640 | ||||||
| Flywire Corp. (a) | 103,082 | 2,386,348 | ||||||
| H&R Block, Inc. | 66,662 | 3,224,441 | ||||||
| Herc Holdings, Inc. | 15,423 | 2,296,331 | ||||||
| ManpowerGroup, Inc. | 30,525 | 2,425,822 | ||||||
| Progyny, Inc. (a) | 49,119 | 1,826,244 | ||||||
| Remitly Global, Inc. (a) | 47,517 | 922,780 | ||||||
| TriNet Group, Inc. (a) | 47,295 | 5,624,794 | ||||||
| WW International, Inc. (a) | 60,985 | 533,619 | ||||||
| 22,579,922 | ||||||||
| Cosmetics & Personal Care — 1.6% | ||||||||
| elf Beauty, Inc. (a) | 95,313 | 13,757,478 | ||||||
| Food — 0.3% | ||||||||
| TreeHouse Foods, Inc. (a) | 52,748 | 2,186,405 | ||||||
| Health Care – Products — 5.8% | ||||||||
| 10X Genomics, Inc. Class A (a) | 52,006 | 2,910,256 | ||||||
| Axonics, Inc. (a) | 76,061 | 4,733,276 | ||||||
| Glaukos Corp. (a) | 83,853 | 6,665,475 | ||||||
| Globus Medical, Inc. Class A (a) | 35,826 | 1,909,168 | ||||||
| Haemonetics Corp. (a) | 101,505 | 8,679,693 | ||||||
| Inari Medical, Inc. (a) | 43,339 | 2,813,568 | ||||||
| Inspire Medical Systems, Inc. (a) (b) | 14,957 | 3,042,702 | ||||||
| Integer Holdings Corp. (a) | 8,839 | 875,768 | ||||||
| Lantheus Holdings, Inc. (a) | 32,664 | 2,025,168 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Merit Medical Systems, Inc. (a) | 34,384 | $ | 2,611,809 | |||||
| PROCEPT BioRobotics Corp. (a) | 114,787 | 4,810,723 | ||||||
| Repligen Corp. (a) | 11,211 | 2,015,738 | ||||||
| Shockwave Medical, Inc. (a) | 20,867 | 3,976,415 | ||||||
| TransMedics Group, Inc. (a) | 18,568 | 1,465,572 | ||||||
| 48,535,331 | ||||||||
| Health Care – Services — 4.1% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 131,701 | 10,241,070 | ||||||
| Encompass Health Corp. | 58,588 | 3,908,991 | ||||||
| HealthEquity, Inc. (a) | 62,071 | 4,115,307 | ||||||
| Medpace Holdings, Inc. (a) | 24,597 | 7,539,719 | ||||||
| Radnet, Inc. (a) | 59,788 | 2,078,829 | ||||||
| Surgery Partners, Inc. (a) (b) | 205,266 | 6,566,459 | ||||||
| 34,450,375 | ||||||||
| Pharmaceuticals — 1.3% | ||||||||
| Ascendis Pharma AS ADR (a) | 5,933 | 747,261 | ||||||
| BellRing Brands, Inc. (a) | 83,434 | 4,624,747 | ||||||
| Merus NV (a) (b) | 32,112 | 883,080 | ||||||
| Morphic Holding, Inc. (a) | 35,864 | 1,035,752 | ||||||
| Revance Therapeutics, Inc. (a) | 29,434 | 258,725 | ||||||
| Vaxcyte, Inc. (a) | 34,950 | 2,194,860 | ||||||
| Verona Pharma PLC ADR (a) (b) | 67,058 | 1,333,113 | ||||||
| 11,077,538 | ||||||||
| 194,578,356 | ||||||||
| Energy — 5.4% | ||||||||
| Energy – Alternate Sources — 0.6% | ||||||||
| Maxeon Solar Technologies Ltd. (a) (b) | 64,235 | 460,565 | ||||||
| Shoals Technologies Group, Inc. Class A (a) | 323,055 | 5,020,274 | ||||||
| 5,480,839 | ||||||||
| Oil & Gas — 4.3% | ||||||||
| Chord Energy Corp. | 37,587 | 6,248,087 | ||||||
| Gulfport Energy Corp. (a) | 19,958 | 2,658,406 | ||||||
| Magnolia Oil & Gas Corp. Class A | 113,318 | 2,412,540 | ||||||
| Matador Resources Co. | 55,243 | 3,141,117 | ||||||
| Northern Oil & Gas, Inc. | 88,758 | 3,290,259 | ||||||
| Seadrill Ltd. (a) | 103,641 | 4,900,147 | ||||||
| Sitio Royalties Corp. Class A (b) | 105,359 | 2,476,990 | ||||||
| Viper Energy, Inc. (a) | 226,163 | 7,096,995 | ||||||
| Weatherford International PLC (a) | 37,092 | 3,628,710 | ||||||
| 35,853,251 | ||||||||
| Oil & Gas Services — 0.5% | ||||||||
| Aris Water Solutions, Inc. Class A | 86,308 | 724,124 | ||||||
| TechnipFMC PLC | 168,505 | 3,393,691 | ||||||
| 4,117,815 | ||||||||
| 45,451,905 | ||||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Financial — 13.0% | ||||||||
| Banks — 2.8% | ||||||||
| Ameris Bancorp | 59,636 | $ | 3,163,690 | |||||
| Cadence Bank | 199,822 | 5,912,733 | ||||||
| First Interstate BancSystem, Inc. Class A | 97,409 | 2,995,327 | ||||||
| Hancock Whitney Corp. | 64,297 | 3,124,191 | ||||||
| National Bank Holdings Corp. Class A | 82,724 | 3,076,505 | ||||||
| Seacoast Banking Corp. of Florida | 109,530 | 3,117,224 | ||||||
| UMB Financial Corp. | 29,498 | 2,464,558 | ||||||
| 23,854,228 | ||||||||
| Diversified Financial Services — 4.3% | ||||||||
| Air Lease Corp. | 77,896 | 3,266,958 | ||||||
| Cohen & Steers, Inc. | 11,249 | 851,887 | ||||||
| Evercore, Inc. Class A | 32,114 | 5,493,100 | ||||||
| Hamilton Lane, Inc. Class A | 79,269 | 8,992,275 | ||||||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b) | 189,120 | 5,215,930 | ||||||
| Mr Cooper Group, Inc. (a) | 24,562 | 1,599,477 | ||||||
| PJT Partners, Inc. Class A | 51,530 | 5,249,361 | ||||||
| PRA Group, Inc. (a) | 117,240 | 3,071,688 | ||||||
| StepStone Group, Inc. Class A | 77,219 | 2,457,881 | ||||||
| 36,198,557 | ||||||||
| Insurance — 2.3% | ||||||||
| Assured Guaranty Ltd. | 44,038 | 3,295,364 | ||||||
| Essent Group Ltd. | 34,276 | 1,807,716 | ||||||
| Kemper Corp. | 50,098 | 2,438,270 | ||||||
| Kinsale Capital Group, Inc. | 13,593 | 4,552,432 | ||||||
| MGIC Investment Corp. | 94,704 | 1,826,840 | ||||||
| Selective Insurance Group, Inc. | 24,329 | 2,420,249 | ||||||
| SiriusPoint Ltd. (a) | 235,994 | 2,737,530 | ||||||
| 19,078,401 | ||||||||
| Real Estate — 0.4% | ||||||||
| McGrath RentCorp | 23,959 | 2,865,976 | ||||||
| Real Estate Investment Trusts (REITS) — 3.2% | ||||||||
| Douglas Emmett, Inc. | 143,912 | 2,086,724 | ||||||
| Essential Properties Realty Trust, Inc. | 106,000 | 2,709,360 | ||||||
| National Storage Affiliates Trust | 61,069 | 2,532,531 | ||||||
| Phillips Edison & Co., Inc. | 161,383 | 5,887,252 | ||||||
| PotlatchDeltic Corp. | 54,957 | 2,698,389 | ||||||
| Ryman Hospitality Properties, Inc. | 41,061 | 4,519,174 | ||||||
| Terreno Realty Corp. | 65,305 | 4,092,664 | ||||||
| Xenia Hotels & Resorts, Inc. | 185,138 | 2,521,579 | ||||||
| 27,047,673 | ||||||||
| 109,044,835 | ||||||||
| Industrial — 19.6% | ||||||||
| Aerospace & Defense — 2.2% | ||||||||
| AAR Corp. (a) | 23,869 | 1,489,426 | ||||||
| Curtiss-Wright Corp. | 47,967 | 10,686,568 | ||||||
| Hexcel Corp. | 59,024 | 4,353,020 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Leonardo DRS, Inc. (a) | 105,732 | $ | 2,118,869 | |||||
| 18,647,883 | ||||||||
| Building Materials — 2.8% | ||||||||
| AAON, Inc. | 46,475 | 3,433,108 | ||||||
| AZEK Co., Inc. (a) | 267,752 | 10,241,514 | ||||||
| Boise Cascade Co. | 22,844 | 2,955,100 | ||||||
| Eagle Materials, Inc. | 14,587 | 2,958,827 | ||||||
| Modine Manufacturing Co. (a) | 37,377 | 2,231,407 | ||||||
| Trex Co., Inc. (a) | 20,074 | 1,661,926 | ||||||
| 23,481,882 | ||||||||
| Electrical Components & Equipment — 1.3% | ||||||||
| Acuity Brands, Inc. | 10,437 | 2,137,811 | ||||||
| Novanta, Inc. (a) | 41,778 | 7,035,833 | ||||||
| Universal Display Corp. | 7,585 | 1,450,707 | ||||||
| 10,624,351 | ||||||||
| Electronics — 0.9% | ||||||||
| Badger Meter, Inc. | 18,199 | 2,809,380 | ||||||
| Celestica, Inc. (a) | 95,189 | 2,787,134 | ||||||
| NEXTracker, Inc. Class A (a) (b) | 48,252 | 2,260,606 | ||||||
| 7,857,120 | ||||||||
| Engineering & Construction — 3.4% | ||||||||
| Comfort Systems USA, Inc. | 54,392 | 11,186,803 | ||||||
| EMCOR Group, Inc. | 15,096 | 3,252,131 | ||||||
| Fluor Corp. (a) | 242,483 | 9,498,059 | ||||||
| TopBuild Corp. (a) | 12,726 | 4,762,833 | ||||||
| 28,699,826 | ||||||||
| Environmental Controls — 1.7% | ||||||||
| Casella Waste Systems, Inc. Class A (a) | 83,687 | 7,151,891 | ||||||
| Clean Harbors, Inc. (a) | 42,503 | 7,417,198 | ||||||
| 14,569,089 | ||||||||
| Hand & Machine Tools — 0.2% | ||||||||
| Kennametal, Inc. (b) | 69,105 | 1,782,218 | ||||||
| Machinery – Construction & Mining — 0.3% | ||||||||
| Vertiv Holdings Co. Class A | 52,153 | 2,504,909 | ||||||
| Machinery – Diversified — 3.7% | ||||||||
| Albany International Corp. Class A | 20,209 | 1,984,928 | ||||||
| Applied Industrial Technologies, Inc. | 60,896 | 10,516,130 | ||||||
| Cactus, Inc. Class A | 76,099 | 3,454,895 | ||||||
| Esab Corp. | 38,416 | 3,327,594 | ||||||
| Flowserve Corp. | 77,030 | 3,175,177 | ||||||
| Middleby Corp. (a) | 16,488 | 2,426,539 | ||||||
| Zurn Elkay Water Solutions Corp. Class C (b) | 215,096 | 6,325,973 | ||||||
| 31,211,236 | ||||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Metal Fabricate & Hardware — 0.3% | ||||||||
| Helios Technologies, Inc. | 50,948 | $ | 2,310,492 | |||||
| Miscellaneous - Manufacturing — 0.4% | ||||||||
| EnPro Industries, Inc. | 18,035 | 2,826,806 | ||||||
| Packaging & Containers — 0.3% | ||||||||
| Graphic Packaging Holding Co. | 108,482 | 2,674,081 | ||||||
| Transportation — 1.8% | ||||||||
| Kirby Corp. (a) | 35,988 | 2,824,338 | ||||||
| RXO, Inc. (a) | 107,039 | 2,489,727 | ||||||
| Ryder System, Inc. | 22,604 | 2,600,816 | ||||||
| Saia, Inc. (a) | 16,854 | 7,385,760 | ||||||
| 15,300,641 | ||||||||
| Trucking & Leasing — 0.3% | ||||||||
| GATX Corp. | 19,067 | 2,292,235 | ||||||
| 164,782,769 | ||||||||
| Technology — 19.2% | ||||||||
| Computers — 3.4% | ||||||||
| Crane NXT Co. | 25,778 | 1,465,995 | ||||||
| CyberArk Software Ltd. (a) | 40,754 | 8,927,164 | ||||||
| Endava PLC Sponsored ADR (a) | 55,826 | 4,346,054 | ||||||
| Exlservice Holdings, Inc. (a) | 148,458 | 4,579,929 | ||||||
| Parsons Corp. (a) | 59,973 | 3,760,907 | ||||||
| Rapid7, Inc. (a) | 40,479 | 2,311,351 | ||||||
| Varonis Systems, Inc. (a) | 70,890 | 3,209,899 | ||||||
| 28,601,299 | ||||||||
| Semiconductors — 4.5% | ||||||||
| Allegro MicroSystems, Inc. (a) | 72,271 | 2,187,643 | ||||||
| Cirrus Logic, Inc. (a) | 15,479 | 1,287,698 | ||||||
| FormFactor, Inc. (a) | 59,257 | 2,471,609 | ||||||
| Lattice Semiconductor Corp. (a) | 49,771 | 3,433,701 | ||||||
| MACOM Technology Solutions Holdings, Inc. (a) | 51,554 | 4,791,944 | ||||||
| MKS Instruments, Inc. | 19,547 | 2,010,800 | ||||||
| Onto Innovation, Inc. (a) | 25,297 | 3,867,911 | ||||||
| Power Integrations, Inc. | 28,726 | 2,358,692 | ||||||
| Rambus, Inc. (a) | 59,448 | 4,057,326 | ||||||
| Silicon Laboratories, Inc. (a) | 26,061 | 3,447,089 | ||||||
| SiTime Corp. (a) (b) | 15,369 | 1,876,248 | ||||||
| Synaptics, Inc. (a) | 53,899 | 6,148,798 | ||||||
| 37,939,459 | ||||||||
| Software — 11.3% | ||||||||
| Altair Engineering, Inc. Class A (a) | 55,081 | 4,635,066 | ||||||
| Braze, Inc. Class A (a) | 77,143 | 4,098,608 | ||||||
| Clearwater Analytics Holdings, Inc. Class A (a) | 100,601 | 2,015,038 | ||||||
| DoubleVerify Holdings, Inc. (a) | 271,748 | 9,994,891 | ||||||
| Duolingo, Inc. (a) | 47,908 | 10,867,930 | ||||||
| Evolent Health, Inc. Class A (a) (b) | 117,225 | 3,871,942 | ||||||
| Five9, Inc. (a) | 42,108 | 3,313,478 | ||||||
| Freshworks, Inc. Class A (a) | 69,219 | 1,625,954 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Gitlab, Inc. Class A (a) | 91,178 | $ | 5,740,567 | |||||
| Global-e Online Ltd. (a) | 61,049 | 2,419,372 | ||||||
| Guidewire Software, Inc. (a) | 37,216 | 4,058,033 | ||||||
| Informatica, Inc. Class A (a) | 57,377 | 1,628,933 | ||||||
| Intapp, Inc. (a) | 38,185 | 1,451,794 | ||||||
| Jamf Holding Corp. (a) | 279,211 | 5,042,551 | ||||||
| JFrog Ltd. (a) | 72,014 | 2,492,404 | ||||||
| Manhattan Associates, Inc. (a) | 11,832 | 2,547,666 | ||||||
| PowerSchool Holdings, Inc. Class A (a) (b) | 180,304 | 4,247,962 | ||||||
| Privia Health Group, Inc. (a) | 93,387 | 2,150,703 | ||||||
| RingCentral, Inc. Class A (a) | 21,065 | 715,157 | ||||||
| Sprout Social, Inc. Class A (a) (b) | 162,615 | 9,991,066 | ||||||
| SPS Commerce, Inc. (a) | 17,835 | 3,457,136 | ||||||
| Verra Mobility Corp. (a) | 276,422 | 6,365,999 | ||||||
| Workiva, Inc. (a) | 24,314 | 2,468,600 | ||||||
| 95,200,850 | ||||||||
| 161,741,608 | ||||||||
| Utilities — 0.7% | ||||||||
| Electric — 0.5% | ||||||||
| Ameresco, Inc. Class A (a) (b) | 58,930 | 1,866,313 | ||||||
| IDACORP, Inc. | 23,050 | 2,266,276 | ||||||
| 4,132,589 | ||||||||
| Gas — 0.2% | ||||||||
| ONE Gas, Inc. | 30,001 | 1,911,664 | ||||||
| 6,044,253 | ||||||||
| TOTAL COMMON STOCK (Cost $711,182,051) | 829,085,436 | |||||||
| TOTAL EQUITIES (Cost $711,182,051) | 829,085,436 | |||||||
| MUTUAL FUNDS — 0.7% | ||||||||
| Diversified Financial Services — 0.7% | ||||||||
| iShares Russell 2000 ETF (b) | 27,866 | 5,592,985 | ||||||
| iShares Russell 2000 Growth ETF | 3,158 | 796,511 | ||||||
| 6,389,496 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $5,393,847) | 6,389,496 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $716,575,898) | 835,474,932 | |||||||
| SHORT-TERM INVESTMENTS — 1.4% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.5% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (c) | 3,904,167 | 3,904,167 | ||||||
| MassMutual Small Cap Growth Equity Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Repurchase Agreement — 0.9% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 7,324,894 | $ | 7,324,894 | ||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $11,229,061) | 11,229,061 | |||||||
| TOTAL INVESTMENTS — 100.8% (Cost $727,804,959) (e) | 846,703,993 | |||||||
| Other Assets/(Liabilities) — (0.8)% | (6,884,249) | |||||||
| NET ASSETS — 100.0% | $ | 839,819,744 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
| ETF | Exchange-Traded Fund |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $53,651,665 or 6.39% of net assets. The Fund received $50,960,275 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 $7,326,197. Collateralized by U.S. Government Agency obligations with rates ranging from 0.375% - 4.875%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $7,471,526. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Overseas Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.4% | ||||||||
| COMMON STOCK — 96.8% | ||||||||
| Australia — 1.1% | ||||||||
| Glencore PLC | 438,600 | $ | 2,631,266 | |||||
| Rio Tinto PLC | 39,484 | 2,932,399 | ||||||
| 5,563,665 | ||||||||
| Belgium — 1.2% | ||||||||
| Anheuser-Busch InBev SA | 35,100 | 2,267,683 | ||||||
| KBC Group NV | 28,450 | 1,845,975 | ||||||
| Liberty Global Ltd. Class A (a) | 94,300 | 1,675,711 | ||||||
| 5,789,369 | ||||||||
| Canada — 3.2% | ||||||||
| Canadian National Railway Co. | 34,879 | 4,381,849 | ||||||
| Intact Financial Corp. | 14,362 | 2,209,605 | ||||||
| Open Text Corp. | 69,190 | 2,907,959 | ||||||
| Suncor Energy, Inc. | 78,562 | 2,516,853 | ||||||
| Toronto-Dominion Bank | 53,420 | 3,451,810 | ||||||
| 15,468,076 | ||||||||
| China — 2.3% | ||||||||
| Alibaba Group Holding Ltd. | 226,040 | 2,184,508 | ||||||
| NetEase, Inc. | 101,500 | 1,883,781 | ||||||
| Prosus NV (PRX NA) | 116,399 | 3,470,682 | ||||||
| Tencent Holdings Ltd. | 70,300 | 2,655,987 | ||||||
| Yum China Holdings, Inc. (YUMC US) | 31,020 | 1,316,178 | ||||||
| 11,511,136 | ||||||||
| Denmark — 2.3% | ||||||||
| Carlsberg AS Class B | 20,050 | 2,513,059 | ||||||
| DSV AS | 11,255 | 1,979,885 | ||||||
| Novo Nordisk AS Class B | 65,631 | 6,788,532 | ||||||
| 11,281,476 | ||||||||
| France — 15.7% | ||||||||
| Accor SA | 78,070 | 2,986,112 | ||||||
| Air Liquide SA | 50,785 | 9,879,274 | ||||||
| BNP Paribas SA | 71,631 | 4,963,093 | ||||||
| Capgemini SE | 49,485 | 10,351,938 | ||||||
| Cie de Saint-Gobain SA | 56,771 | 4,198,005 | ||||||
| Cie Generale des Etablissements Michelin SCA Class A | 69,519 | 2,498,025 | ||||||
| Danone SA | 31,600 | 2,049,617 | ||||||
| Dassault Systemes SE | 40,767 | 1,995,733 | ||||||
| Edenred SE | 34,400 | 2,065,486 | ||||||
| Engie SA | 256,274 | 4,506,361 | ||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| EssilorLuxottica SA | 25,578 | $ | 5,141,070 | |||||
| Kering SA | 9,755 | 4,329,084 | ||||||
| L'Oreal SA | 3,428 | 1,704,421 | ||||||
| Legrand SA | 28,949 | 3,015,331 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 8,977 | 7,281,471 | ||||||
| Pernod Ricard SA | 23,942 | 4,233,666 | ||||||
| Publicis Groupe SA | 19,469 | 1,810,512 | ||||||
| Valeo SE | 127,319 | 1,968,568 | ||||||
| Worldline SA (a) (b) | 120,300 | 2,089,380 | ||||||
| 77,067,147 | ||||||||
| Germany — 14.6% | ||||||||
| adidas AG | 10,285 | 2,091,342 | ||||||
| Allianz SE Registered | 12,585 | 3,361,459 | ||||||
| Bayer AG Registered | 159,486 | 5,920,727 | ||||||
| Bayerische Motoren Werke AG | 33,585 | 3,735,452 | ||||||
| Beiersdorf AG | 40,909 | 6,129,377 | ||||||
| Brenntag SE | 24,000 | 2,203,286 | ||||||
| Continental AG | 49,999 | 4,252,433 | ||||||
| Daimler Truck Holding AG | 91,361 | 3,430,839 | ||||||
| Deutsche Boerse AG | 27,974 | 5,759,469 | ||||||
| Fresenius Medical Care AG | 98,421 | 4,115,628 | ||||||
| Fresenius SE & Co. KGaA | 122,100 | 3,789,829 | ||||||
| Henkel AG & Co. KGaA | 24,622 | 1,766,163 | ||||||
| Mercedes-Benz Group AG Registered | 66,873 | 4,618,519 | ||||||
| Merck KGaA | 31,681 | 5,039,108 | ||||||
| MTU Aero Engines AG | 7,923 | 1,707,664 | ||||||
| SAP SE | 60,873 | 9,363,817 | ||||||
| Siemens AG Registered | 15,325 | 2,874,511 | ||||||
| thyssenkrupp AG | 172,517 | 1,203,773 | ||||||
| 71,363,396 | ||||||||
| Hong Kong — 2.5% | ||||||||
| AIA Group Ltd. | 634,000 | 5,506,547 | ||||||
| Prudential PLC | 587,818 | 6,617,149 | ||||||
| 12,123,696 | ||||||||
| India — 1.5% | ||||||||
| Axis Bank Ltd. | 90,105 | 1,189,464 | ||||||
| HDFC Bank Ltd. | 210,033 | 4,307,204 | ||||||
| Tata Consultancy Services Ltd. | 40,100 | 1,829,025 | ||||||
| 7,325,693 | ||||||||
| Indonesia — 0.0% | ||||||||
| Bank Mandiri Persero Tbk. PT | 565,400 | 221,790 | ||||||
| Ireland — 1.9% | ||||||||
| AIB Group PLC | 328,174 | 1,404,249 | ||||||
| Ryanair Holdings PLC Sponsored ADR (a) | 57,916 | 7,723,678 | ||||||
| 9,127,927 | ||||||||
| Israel — 0.6% | ||||||||
| Check Point Software Technologies Ltd. (a) | 18,901 | 2,887,884 | ||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Italy — 2.6% | ||||||||
| Eni SpA | 242,658 | $ | 4,118,772 | |||||
| Intesa Sanpaolo SpA | 2,892,596 | 8,443,836 | ||||||
| 12,562,608 | ||||||||
| Japan — 10.7% | ||||||||
| Daikin Industries Ltd. | 25,400 | 4,125,969 | ||||||
| Denso Corp. | 231,400 | 3,470,755 | ||||||
| Fujitsu Ltd. | 15,700 | 2,370,162 | ||||||
| Hitachi Ltd. | 98,100 | 7,089,825 | ||||||
| Hoya Corp. | 18,600 | 2,313,266 | ||||||
| Koito Manufacturing Co. Ltd. | 11,900 | 184,880 | ||||||
| Komatsu Ltd. | 59,300 | 1,544,884 | ||||||
| Kose Corp. | 24,200 | 1,808,843 | ||||||
| Kubota Corp. | 80,100 | 1,202,047 | ||||||
| Kyocera Corp. | 246,800 | 3,587,381 | ||||||
| Mitsubishi Electric Corp. | 217,700 | 3,073,180 | ||||||
| Olympus Corp. | 202,500 | 2,922,391 | ||||||
| Recruit Holdings Co. Ltd. | 40,600 | 1,733,348 | ||||||
| Seven & i Holdings Co. Ltd. | 67,700 | 2,681,263 | ||||||
| Shin-Etsu Chemical Co. Ltd. | 55,400 | 2,314,957 | ||||||
| SMC Corp. | 6,000 | 3,208,623 | ||||||
| Sony Group Corp. | 49,700 | 4,709,308 | ||||||
| Terumo Corp. | 87,300 | 2,848,731 | ||||||
| ZOZO, Inc. | 61,700 | 1,386,349 | ||||||
| 52,576,162 | ||||||||
| Luxembourg — 0.5% | ||||||||
| Eurofins Scientific SE | 39,000 | 2,551,697 | ||||||
| Netherlands — 3.1% | ||||||||
| Akzo Nobel NV | 74,811 | 6,181,306 | ||||||
| EXOR NV | 27,800 | 2,786,972 | ||||||
| ING Groep NV Series N | 310,124 | 4,642,617 | ||||||
| Randstad NV | 22,217 | 1,392,532 | ||||||
| 15,003,427 | ||||||||
| Portugal — 0.5% | ||||||||
| Galp Energia SGPS SA | 154,043 | 2,265,985 | ||||||
| Republic of Korea — 1.3% | ||||||||
| NAVER Corp. (a) | 18,670 | 3,231,232 | ||||||
| Samsung Electronics Co. Ltd. | 52,342 | 3,183,436 | ||||||
| 6,414,668 | ||||||||
| Singapore — 0.7% | ||||||||
| DBS Group Holdings Ltd. | 146,200 | 3,693,706 | ||||||
| Spain — 1.2% | ||||||||
| Amadeus IT Group SA | 79,777 | 5,721,610 | ||||||
| Sweden — 1.3% | ||||||||
| Sandvik AB | 68,900 | 1,491,256 | ||||||
| SKF AB Class B | 136,100 | 2,718,970 | ||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Volvo AB Class B | 91,500 | $ | 2,378,630 | |||||
| 6,588,856 | ||||||||
| Switzerland — 7.4% | ||||||||
| Cie Financiere Richemont SA Registered | 54,749 | 7,551,711 | ||||||
| Julius Baer Group Ltd. | 35,498 | 1,994,636 | ||||||
| Novartis AG Registered | 64,641 | 6,526,771 | ||||||
| Schindler Holding AG | 5,475 | 1,370,192 | ||||||
| Sika AG Registered | 8,608 | 2,812,527 | ||||||
| Sonova Holding AG Registered | 8,648 | 2,827,967 | ||||||
| The Swatch Group AG | 7,085 | 1,931,793 | ||||||
| UBS Group AG Registered | 201,059 | 6,244,645 | ||||||
| Zurich Insurance Group AG | 9,260 | 4,841,202 | ||||||
| 36,101,444 | ||||||||
| Taiwan — 0.7% | ||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | 34,482 | 3,586,128 | ||||||
| United Kingdom — 10.8% | ||||||||
| Ashtead Group PLC | 30,200 | 2,092,573 | ||||||
| Bunzl PLC | 8,600 | 349,083 | ||||||
| CNH Industrial NV | 490,497 | 6,009,191 | ||||||
| Compass Group PLC | 291,941 | 7,977,263 | ||||||
| Diageo PLC | 104,189 | 3,783,540 | ||||||
| Informa PLC | 108,100 | 1,073,193 | ||||||
| Lloyds Banking Group PLC | 9,673,597 | 5,857,594 | ||||||
| London Stock Exchange Group PLC | 36,372 | 4,299,671 | ||||||
| Reckitt Benckiser Group PLC | 26,400 | 1,821,329 | ||||||
| RELX PLC | 145,877 | 5,785,524 | ||||||
| Rolls-Royce Holdings PLC (a) | 1,004,270 | 3,824,660 | ||||||
| Schroders PLC | 621,664 | 3,393,324 | ||||||
| Smiths Group PLC | 44,156 | 990,819 | ||||||
| Tesco PLC | 728,066 | 2,693,159 | ||||||
| WPP PLC | 305,344 | 2,902,606 | ||||||
| 52,853,529 | ||||||||
| United States — 9.1% | ||||||||
| Experian PLC | 143,995 | 5,868,051 | ||||||
| Holcim AG | 24,484 | 1,922,673 | ||||||
| Linde PLC (LIN US) | 11,605 | 4,766,289 | ||||||
| Nestle SA Registered | 84,088 | 9,732,124 | ||||||
| QIAGEN NV (a) | 64,309 | 2,797,978 | ||||||
| Roche Holding AG | 32,836 | 9,516,928 | ||||||
| Schneider Electric SE | 48,976 | 9,861,324 | ||||||
| 44,465,367 | ||||||||
| TOTAL COMMON STOCK (Cost $393,346,866) | 474,116,442 | |||||||
| PREFERRED STOCK — 0.6% | ||||||||
| Republic of Korea — 0.6% | ||||||||
| Samsung Electronics Co. Ltd. 2.312% | ||||||||
| 60,200 | 2,902,954 | |||||||
| MassMutual Overseas Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL PREFERRED STOCK (Cost $3,195,160) | $ | 2,902,954 | ||||||
| TOTAL EQUITIES (Cost $396,542,026) | 477,019,396 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $396,542,026) | 477,019,396 | |||||||
| SHORT-TERM INVESTMENTS — 2.1% | ||||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 2.1% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (c) | $ | 10,268,804 | 10,268,804 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $10,268,804) | 10,268,804 | |||||||
| TOTAL INVESTMENTS — 99.5% (Cost $406,810,830) (d) | 487,288,200 | |||||||
| Other Assets/(Liabilities) — 0.5% | 2,602,815 | |||||||
| NET ASSETS — 100.0% | $ | 489,891,015 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $2,089,380 or 0.43% of net assets. |
| (c) | Maturity value of $10,270,630. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $10,474,340. |
| (d) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.9% | ||||||||
| COMMON STOCK — 97.2% | ||||||||
| Australia — 2.1% | ||||||||
| ANZ Group Holdings Ltd. | 111,673 | $ | 1,967,420 | |||||
| BHP Group Ltd. Class DI | 199,893 | 6,839,531 | ||||||
| BHP Group Ltd. | 139,737 | 4,790,261 | ||||||
| Challenger Ltd. | 170,735 | 753,716 | ||||||
| Downer EDI Ltd. | 622,182 | 1,858,110 | ||||||
| IGO Ltd. (a) | 249,626 | 1,531,412 | ||||||
| Macquarie Group Ltd. | 18,236 | 2,272,703 | ||||||
| Pilbara Minerals Ltd. (a) | 819,344 | 2,195,764 | ||||||
| Scentre Group | 1,254,420 | 2,544,148 | ||||||
| South32 Ltd. | 1,798,701 | 4,086,993 | ||||||
| Worley Ltd. | 356,414 | 4,228,366 | ||||||
| 33,068,424 | ||||||||
| Austria — 0.6% | ||||||||
| BAWAG Group AG (b) | 70,818 | 3,761,314 | ||||||
| Erste Group Bank AG | 74,007 | 3,002,703 | ||||||
| OMV AG | 49,319 | 2,168,060 | ||||||
| 8,932,077 | ||||||||
| Belgium — 0.2% | ||||||||
| KBC Group NV | 28,694 | 1,861,807 | ||||||
| Umicore SA | 65,237 | 1,792,939 | ||||||
| 3,654,746 | ||||||||
| Brazil — 2.1% | ||||||||
| B3 SA - Brasil Bolsa Balcao | 757,975 | 2,254,112 | ||||||
| Banco BTG Pactual SA | 401,000 | 3,085,437 | ||||||
| Embraer SA (c) | 367,200 | 1,697,425 | ||||||
| Hypera SA | 101,900 | 736,445 | ||||||
| Klabin SA | 629,100 | 2,875,432 | ||||||
| Localiza Rent a Car SA | 261,626 | 3,411,350 | ||||||
| MercadoLibre, Inc. (c) | 3,046 | 4,786,911 | ||||||
| Multiplan Empreendimentos Imobiliarios SA | 627,069 | 3,641,806 | ||||||
| Raia Drogasil SA | 753,867 | 4,550,222 | ||||||
| Suzano SA | 181,127 | 2,059,653 | ||||||
| Vale SA Sponsored ADR | 55,340 | 877,692 | ||||||
| WEG SA | 118,616 | 921,669 | ||||||
| XP, Inc. Class A | 45,600 | 1,188,792 | ||||||
| 32,086,946 | ||||||||
| Canada — 4.2% | ||||||||
| Brookfield Corp. | 65,300 | 2,619,294 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Canadian National Railway Co. | 37,814 | $ | 4,750,573 | |||||
| Canadian Pacific Kansas City Ltd. (a) | 51,438 | 4,066,688 | ||||||
| Cenovus Energy, Inc. | 181,611 | 3,026,279 | ||||||
| Constellation Software, Inc. | 1,942 | 4,814,908 | ||||||
| Definity Financial Corp. | 123,266 | 3,492,250 | ||||||
| Descartes Systems Group, Inc. (c) | 21,884 | 1,839,569 | ||||||
| Element Fleet Management Corp. (a) | 432,275 | 7,033,583 | ||||||
| Magna International, Inc. | 71,276 | 4,210,986 | ||||||
| National Bank of Canada (a) | 124,326 | 9,476,568 | ||||||
| Shopify, Inc. Class A (c) | 43,109 | 3,358,191 | ||||||
| Sun Life Financial, Inc. | 109,766 | 5,692,706 | ||||||
| Suncor Energy, Inc. | 163,566 | 5,240,086 | ||||||
| TMX Group Ltd. | 224,775 | 5,436,805 | ||||||
| 65,058,486 | ||||||||
| Chile — 0.3% | ||||||||
| Antofagasta PLC | 125,936 | 2,693,968 | ||||||
| Banco de Chile | 23,653,173 | 2,778,478 | ||||||
| 5,472,446 | ||||||||
| China — 8.9% | ||||||||
| Alibaba Group Holding Ltd. | 755,680 | 7,303,082 | ||||||
| Alibaba Group Holding Ltd. Sponsored ADR | 124,813 | 9,674,256 | ||||||
| Baidu, Inc. Class A (c) | 245,950 | 3,655,138 | ||||||
| Baidu, Inc. Sponsored ADR (c) | 15,528 | 1,849,230 | ||||||
| BeiGene Ltd. ADR (c) | 11,985 | 2,161,615 | ||||||
| Beijing Enterprises Holdings Ltd. | 227,000 | 789,127 | ||||||
| Budweiser Brewing Co. APAC Ltd. (b) | 686,200 | 1,281,114 | ||||||
| Chacha Food Co. Ltd. Class A | 139,400 | 683,448 | ||||||
| China Construction Bank Corp. Class H | 4,186,000 | 2,504,357 | ||||||
| China Oilfield Services Ltd. Class A | 1,176,900 | 2,428,829 | ||||||
| China Overseas Land & Investment Ltd. | 348,500 | 617,482 | ||||||
| China Pacific Insurance Group Co. Ltd. Class A | 436,600 | 1,460,787 | ||||||
| China Resources Gas Group Ltd. | 716,000 | 2,343,905 | ||||||
| China Resources Land Ltd. | 438,000 | 1,580,243 | ||||||
| Focus Media Information Technology Co. Ltd. Class A | 2,326,400 | 2,080,371 | ||||||
| Fosun International Ltd. | 1,144,500 | 671,814 | ||||||
| Fuyao Glass Industry Group Co. Ltd. Class A | 943,200 | 4,970,755 | ||||||
| Hangcha Group Co. Ltd. Class A | 206,100 | 726,128 | ||||||
| Hongfa Technology Co. Ltd. Class A | 133,520 | 519,913 | ||||||
| JD Health International, Inc. (b) (c) | 264,450 | 1,319,510 | ||||||
| Jiumaojiu International Holdings Ltd. (b) | 553,000 | 431,016 | ||||||
| JOYY, Inc. ADR | 28,195 | 1,119,341 | ||||||
| KE Holdings, Inc. ADR | 397,111 | 6,437,169 | ||||||
| Kweichow Moutai Co. Ltd. Class A | 12,298 | 2,987,252 | ||||||
| Li Auto, Inc. ADR (a) (c) | 60,030 | 2,246,923 | ||||||
| Longfor Group Holdings Ltd. (b) | 67,901 | 108,906 | ||||||
| NARI Technology Co. Ltd. Class A | 1,496,945 | 4,721,928 | ||||||
| Nongfu Spring Co. Ltd. Class H (b) | 132,600 | 763,981 | ||||||
| NXP Semiconductor NV | 21,929 | 5,036,653 | ||||||
| PDD Holdings, Inc. ADR (c) | 26,043 | 3,810,351 | ||||||
| Ping An Insurance Group Co. of China Ltd. Class H | 146,000 | 660,424 | ||||||
| Prosus NV (PRX NA) | 367,710 | 10,964,051 | ||||||
| Prosus NV (PRX SJ) (a) | 91,858 | 2,816,492 | ||||||
| Shandong Pharmaceutical Glass Co. Ltd. Class A | 318,100 | 1,147,615 | ||||||
| Shandong Weigao Group Medical Polymer Co. Ltd. Class H | 821,600 | 800,939 | ||||||
| Shenzhen Inovance Technology Co. Ltd. Class A | 325,200 | 2,892,446 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A | 19,800 | $ | 812,521 | |||||
| Silergy Corp. | 231,000 | 3,760,072 | ||||||
| Tencent Holdings Ltd. | 191,900 | 7,250,127 | ||||||
| Tingyi Cayman Islands Holding Corp. | 746,000 | 915,300 | ||||||
| Tongcheng Travel Holdings Ltd. (b) (c) | 1,431,600 | 2,659,419 | ||||||
| Trip.com Group Ltd. (c) | 88,000 | 3,165,448 | ||||||
| Tsingtao Brewery Co. Ltd. Class H | 298,000 | 1,995,794 | ||||||
| Weichai Power Co. Ltd. Class A | 1,465,500 | 2,827,307 | ||||||
| Wilmar International Ltd. | 961,700 | 2,595,145 | ||||||
| Yangzijiang Shipbuilding Holdings Ltd. | 3,056,500 | 3,446,393 | ||||||
| Yifeng Pharmacy Chain Co. Ltd. Class A | 403,282 | 2,274,883 | ||||||
| Yum China Holdings, Inc. (9987 HK) | 12,000 | 512,326 | ||||||
| Yum China Holdings, Inc. (YUMC US) | 151,297 | 6,419,532 | ||||||
| Zhejiang Dingli Machinery Co. Ltd. Class A | 24,700 | 178,089 | ||||||
| Zhongsheng Group Holdings Ltd. | 863,500 | 2,082,691 | ||||||
| ZTO Express Cayman, Inc. ADR | 29,535 | 628,505 | ||||||
| ZWSOFT Co. Ltd. Guangzhou Class A | 41,180 | 577,221 | ||||||
| 137,667,364 | ||||||||
| Denmark — 1.1% | ||||||||
| Coloplast AS Class B | 9,061 | 1,035,929 | ||||||
| Genmab AS (c) | 12,879 | 4,102,365 | ||||||
| Novo Nordisk AS Class B | 57,419 | 5,939,125 | ||||||
| Novo Nordisk AS Sponsored ADR | 59,937 | 6,200,482 | ||||||
| 17,277,901 | ||||||||
| Finland — 0.6% | ||||||||
| Mandatum OYJ (c) | 151,627 | 682,548 | ||||||
| Sampo OYJ Class A | 155,030 | 6,784,614 | ||||||
| Stora Enso OYJ Class R | 165,855 | 2,294,243 | ||||||
| 9,761,405 | ||||||||
| France — 6.8% | ||||||||
| Air Liquide SA | 21,133 | 4,111,031 | ||||||
| Airbus SE | 34,933 | 5,392,198 | ||||||
| Alstom SA | 81,948 | 1,103,499 | ||||||
| AXA SA | 408,227 | 13,325,700 | ||||||
| BNP Paribas SA | 113,433 | 7,859,426 | ||||||
| Capgemini SE | 16,950 | 3,545,829 | ||||||
| Cie de Saint-Gobain SA | 36,410 | 2,692,385 | ||||||
| Dassault Aviation SA | 26,689 | 5,281,074 | ||||||
| Engie SA | 554,532 | 9,750,976 | ||||||
| EssilorLuxottica SA | 13,541 | 2,721,684 | ||||||
| Forvia SE (c) | 65,034 | 1,477,574 | ||||||
| Kering SA | 6,247 | 2,772,300 | ||||||
| L'Oreal SA | 8,893 | 4,421,649 | ||||||
| Legrand SA | 34,391 | 3,582,170 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 5,613 | 4,552,846 | ||||||
| Safran SA | 44,622 | 7,871,514 | ||||||
| Sartorius Stedim Biotech | 8,959 | 2,379,526 | ||||||
| Teleperformance SE | 9,606 | 1,404,042 | ||||||
| Thales SA | 22,944 | 3,393,323 | ||||||
| TotalEnergies SE | 244,727 | 16,623,928 | ||||||
| Ubisoft Entertainment SA (c) | 67,172 | 1,719,183 | ||||||
| 105,981,857 | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Germany — 6.3% | ||||||||
| BASF SE | 75,912 | $ | 4,087,721 | |||||
| Bayer AG Registered | 124,809 | 4,633,384 | ||||||
| Brenntag SE | 18,232 | 1,673,763 | ||||||
| Covestro AG (b) (c) | 102,430 | 5,957,781 | ||||||
| Daimler Truck Holding AG | 116,384 | 4,370,516 | ||||||
| Deutsche Boerse AG | 12,925 | 2,661,083 | ||||||
| Deutsche Post AG Registered | 62,488 | 3,095,390 | ||||||
| Deutsche Telekom AG Registered | 423,355 | 10,166,564 | ||||||
| Evotec SE (c) | 180,252 | 4,234,283 | ||||||
| Fresenius SE & Co. KGaA | 133,646 | 4,148,202 | ||||||
| Heidelberg Materials AG | 21,821 | 1,949,667 | ||||||
| Infineon Technologies AG | 28,973 | 1,208,423 | ||||||
| KION Group AG | 66,558 | 2,842,299 | ||||||
| Mercedes-Benz Group AG Registered | 35,169 | 2,428,913 | ||||||
| Merck KGaA | 8,467 | 1,346,742 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen Registered | 16,923 | 7,007,751 | ||||||
| Puma SE | 70,220 | 3,912,731 | ||||||
| SAP SE | 64,114 | 9,862,365 | ||||||
| Schott Pharma AG & Co. KGaA (c) | 39,494 | 1,465,150 | ||||||
| Siemens AG Registered | 94,367 | 17,700,426 | ||||||
| Siemens Healthineers AG (b) | 67,810 | 3,940,486 | ||||||
| 98,693,640 | ||||||||
| Guatemala — 0.1% | ||||||||
| Millicom International Cellular SA SDR (c) | 82,454 | 1,477,685 | ||||||
| Hong Kong — 1.6% | ||||||||
| AIA Group Ltd. | 1,674,400 | 14,542,844 | ||||||
| Hong Kong Exchanges & Clearing Ltd. | 66,300 | 2,268,466 | ||||||
| Hongkong Land Holdings Ltd. | 340,500 | 1,182,979 | ||||||
| Prudential PLC | 504,537 | 5,679,643 | ||||||
| Wharf Real Estate Investment Co. Ltd. | 262,000 | 891,194 | ||||||
| 24,565,126 | ||||||||
| Hungary — 0.4% | ||||||||
| OTP Bank Nyrt | 126,617 | 5,766,749 | ||||||
| India — 4.5% | ||||||||
| Ashok Leyland Ltd. | 458,958 | 998,336 | ||||||
| Asian Paints Ltd. | 28,093 | 1,145,251 | ||||||
| Axis Bank Ltd. | 497,056 | 6,561,571 | ||||||
| HDFC Asset Management Co. Ltd. (b) | 21,587 | 830,857 | ||||||
| HDFC Bank Ltd. | 485,406 | 9,954,352 | ||||||
| HDFC Life Insurance Co. Ltd. (b) | 507,898 | 3,941,363 | ||||||
| Hindalco Industries Ltd. | 335,046 | 2,468,120 | ||||||
| Hindustan Unilever Ltd. | 26,337 | 841,159 | ||||||
| ICICI Bank Ltd. | 424,399 | 5,084,706 | ||||||
| ICICI Bank Ltd. Sponsored ADR | 94,949 | 2,263,584 | ||||||
| Infosys Ltd. | 146,959 | 2,720,135 | ||||||
| Jio Financial Services Ltd. (c) | 75,436 | 210,897 | ||||||
| Kotak Mahindra Bank Ltd. | 80,556 | 1,841,823 | ||||||
| Larsen & Toubro Ltd. | 125,107 | 5,286,695 | ||||||
| Maruti Suzuki India Ltd. | 5,465 | 676,055 | ||||||
| NTPC Ltd. | 1,645,186 | 6,124,972 | ||||||
| Petronet LNG Ltd. | 454,384 | 1,215,642 | ||||||
| Reliance Industries Ltd. | 199,268 | 6,188,882 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Shree Cement Ltd. | 6,621 | $ | 2,291,083 | |||||
| Shriram Finance Ltd. | 126,587 | 3,121,119 | ||||||
| Tata Consultancy Services Ltd. | 20,715 | 944,844 | ||||||
| Tech Mahindra Ltd. | 114,420 | 1,747,297 | ||||||
| Titan Co. Ltd. | 13,026 | 576,595 | ||||||
| Varun Beverages Ltd. | 116,916 | 1,737,189 | ||||||
| Voltas Ltd. | 127,355 | 1,495,097 | ||||||
| 70,267,624 | ||||||||
| Indonesia — 0.8% | ||||||||
| Bank Central Asia Tbk. PT | 9,013,600 | 5,497,663 | ||||||
| Bank Mandiri Persero Tbk. PT | 1,675,100 | 657,094 | ||||||
| Bank Rakyat Indonesia Persero Tbk. PT | 10,338,364 | 3,832,871 | ||||||
| Sarana Menara Nusantara Tbk. PT | 22,251,500 | 1,429,691 | ||||||
| Sumber Alfaria Trijaya Tbk. PT | 3,531,500 | 671,736 | ||||||
| 12,089,055 | ||||||||
| Ireland — 0.2% | ||||||||
| AerCap Holdings NV (c) | 36,576 | 2,718,328 | ||||||
| Italy — 1.9% | ||||||||
| Amplifon SpA | 11,390 | 395,281 | ||||||
| Banca Mediolanum SpA | 251,779 | 2,372,626 | ||||||
| DiaSorin SpA | 26,094 | 2,690,925 | ||||||
| Enel SpA | 628,555 | 4,678,444 | ||||||
| Ermenegildo Zegna NV | 120,889 | 1,398,686 | ||||||
| Intesa Sanpaolo SpA | 587,209 | 1,714,134 | ||||||
| Leonardo SpA | 169,360 | 2,794,126 | ||||||
| Moncler SpA | 41,159 | 2,538,129 | ||||||
| Prysmian SpA | 121,375 | 5,533,665 | ||||||
| UniCredit SpA | 174,712 | 4,739,539 | ||||||
| 28,855,555 | ||||||||
| Japan — 13.9% | ||||||||
| Asahi Group Holdings Ltd. | 78,600 | 2,925,542 | ||||||
| Asahi Kasei Corp. | 221,600 | 1,639,757 | ||||||
| Astellas Pharma, Inc. | 526,400 | 6,311,571 | ||||||
| Calbee, Inc. | 106,300 | 2,136,013 | ||||||
| Central Japan Railway Co. | 61,500 | 1,559,357 | ||||||
| Chugai Pharmaceutical Co. Ltd. | 120,000 | 4,549,929 | ||||||
| CyberAgent, Inc. | 189,000 | 1,182,968 | ||||||
| Daiichi Sankyo Co. Ltd. | 108,600 | 3,006,519 | ||||||
| Daikin Industries Ltd. | 12,800 | 2,079,228 | ||||||
| Denso Corp. | 199,900 | 2,998,288 | ||||||
| Disco Corp. | 15,000 | 3,691,157 | ||||||
| Electric Power Development Co. Ltd. Class C | 105,100 | 1,717,751 | ||||||
| Fujitsu Ltd. | 22,300 | 3,366,536 | ||||||
| Hamamatsu Photonics KK | 41,400 | 1,696,976 | ||||||
| Hikari Tsushin, Inc. | 9,200 | 1,521,227 | ||||||
| Hitachi Ltd. | 79,800 | 5,767,258 | ||||||
| Honda Motor Co. Ltd. | 103,200 | 1,066,775 | ||||||
| Isetan Mitsukoshi Holdings Ltd. | 87,200 | 946,653 | ||||||
| Kao Corp. | 62,400 | 2,564,283 | ||||||
| Keyence Corp. | 8,000 | 3,506,747 | ||||||
| Kirin Holdings Co. Ltd. (a) | 87,300 | 1,278,173 | ||||||
| LY Corp. | 1,203,400 | 4,254,789 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| MatsukiyoCocokara & Co. | 111,200 | $ | 1,965,435 | |||||
| MINEBEA MITSUMI, Inc. | 62,200 | 1,272,525 | ||||||
| Mitsubishi Corp. | 154,500 | 2,460,803 | ||||||
| Mitsubishi Electric Corp. | 452,600 | 6,389,166 | ||||||
| Mitsubishi Estate Co. Ltd. | 190,200 | 2,612,845 | ||||||
| Mitsubishi HC Capital, Inc. | 206,900 | 1,387,411 | ||||||
| Mitsubishi UFJ Financial Group, Inc. | 939,800 | 8,087,634 | ||||||
| Mitsui Fudosan Co. Ltd. | 347,500 | 8,493,511 | ||||||
| Murata Manufacturing Co. Ltd. | 276,100 | 5,830,935 | ||||||
| Nextage Co. Ltd. (a) | 91,200 | 1,670,166 | ||||||
| Nippon Sanso Holdings Corp. | 60,800 | 1,621,358 | ||||||
| Nippon Steel Corp. (a) | 84,300 | 1,926,298 | ||||||
| Nippon Telegraph & Telephone Corp. | 11,886,900 | 14,512,623 | ||||||
| Niterra Co. Ltd. | 41,900 | 994,341 | ||||||
| NTT Data Group Corp. | 284,800 | 4,022,123 | ||||||
| Olympus Corp. | 249,600 | 3,602,117 | ||||||
| Omron Corp. | 23,800 | 1,105,116 | ||||||
| ORIX Corp. | 153,500 | 2,876,096 | ||||||
| Otsuka Holdings Co. Ltd. | 82,300 | 3,080,284 | ||||||
| Outsourcing, Inc. (a) (c) | 71,700 | 881,459 | ||||||
| Panasonic Holdings Corp. | 232,700 | 2,281,618 | ||||||
| Persol Holdings Co. Ltd. | 2,517,400 | 4,306,462 | ||||||
| Recruit Holdings Co. Ltd. | 148,900 | 6,357,033 | ||||||
| Renesas Electronics Corp. (c) | 109,200 | 1,959,813 | ||||||
| Seven & i Holdings Co. Ltd. | 186,400 | 7,382,383 | ||||||
| Shimadzu Corp. | 41,500 | 1,156,426 | ||||||
| SMC Corp. | 3,700 | 1,978,651 | ||||||
| Sompo Holdings, Inc. | 52,300 | 2,553,819 | ||||||
| Sony Group Corp. | 79,400 | 7,523,521 | ||||||
| Stanley Electric Co. Ltd. | 191,600 | 3,585,512 | ||||||
| SUMCO Corp. (a) | 98,700 | 1,474,440 | ||||||
| Sumitomo Corp. | 237,700 | 5,184,812 | ||||||
| Sumitomo Metal Mining Co. Ltd. | 53,200 | 1,596,217 | ||||||
| Sumitomo Mitsui Trust Holdings, Inc. | 66,600 | 1,277,232 | ||||||
| Suzuki Motor Corp. | 47,500 | 2,044,624 | ||||||
| Taiheiyo Cement Corp. | 70,400 | 1,447,709 | ||||||
| Takeda Pharmaceutical Co. Ltd. | 65,100 | 1,868,849 | ||||||
| TechnoPro Holdings, Inc. | 78,700 | 2,062,842 | ||||||
| THK Co. Ltd. (a) | 51,000 | 996,616 | ||||||
| Tokio Marine Holdings, Inc. | 155,500 | 3,882,119 | ||||||
| Tokyo Electron Ltd. | 39,300 | 6,985,599 | ||||||
| Tosoh Corp. | 21,300 | 271,465 | ||||||
| Toyota Motor Corp. | 656,000 | 12,042,047 | ||||||
| Welcia Holdings Co. Ltd. | 39,700 | 693,476 | ||||||
| 215,473,028 | ||||||||
| Luxembourg — 0.2% | ||||||||
| ArcelorMittal SA | 79,585 | 2,256,980 | ||||||
| Eurofins Scientific SE | 4,637 | 303,390 | ||||||
| 2,560,370 | ||||||||
| Macau — 0.3% | ||||||||
| Galaxy Entertainment Group Ltd. | 770,000 | 4,303,721 | ||||||
| Malaysia — 0.3% | ||||||||
| CIMB Group Holdings Bhd. | 3,213,096 | 4,089,234 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Mexico — 0.9% | ||||||||
| Becle SAB de CV (a) | 130,300 | $ | 255,137 | |||||
| Fresnillo PLC | 196,011 | 1,480,594 | ||||||
| Gruma SAB de CV Class B | 163,725 | 2,996,145 | ||||||
| Grupo Aeroportuario del Pacifico SAB de CV ADR (a) | 8,551 | 1,498,306 | ||||||
| Grupo Financiero Banorte SAB de CV Class O | 96,912 | 976,482 | ||||||
| Grupo Mexico SAB de CV Series B | 862,988 | 4,796,467 | ||||||
| Wal-Mart de Mexico SAB de CV | 628,655 | 2,642,935 | ||||||
| 14,646,066 | ||||||||
| Netherlands — 4.8% | ||||||||
| Adyen NV (b) (c) | 2,347 | 3,025,556 | ||||||
| Akzo Nobel NV | 103,520 | 8,553,405 | ||||||
| ASML Holding NV | 31,020 | 23,420,508 | ||||||
| ASR Nederland NV | 36,616 | 1,731,415 | ||||||
| Euronext NV (b) | 17,820 | 1,547,347 | ||||||
| Heineken NV | 109,260 | 11,116,673 | ||||||
| ING Groep NV Series N | 928,758 | 13,903,689 | ||||||
| Koninklijke Philips NV (c) | 302,956 | 7,075,283 | ||||||
| Shell PLC ADR | 59,291 | 3,901,348 | ||||||
| 74,275,224 | ||||||||
| Norway — 0.9% | ||||||||
| DNB Bank ASA | 251,064 | 5,333,774 | ||||||
| Equinor ASA | 188,437 | 5,969,611 | ||||||
| Storebrand ASA | 281,044 | 2,489,075 | ||||||
| 13,792,460 | ||||||||
| Peru — 0.0% | ||||||||
| Credicorp Ltd. | 4,639 | 695,525 | ||||||
| Philippines — 0.3% | ||||||||
| BDO Unibank, Inc. | 461,454 | 1,086,308 | ||||||
| Jollibee Foods Corp. | 222,320 | 1,008,799 | ||||||
| SM Investments Corp. | 158,260 | 2,491,438 | ||||||
| Universal Robina Corp. | 104,980 | 224,101 | ||||||
| 4,810,646 | ||||||||
| Poland — 0.1% | ||||||||
| Powszechny Zaklad Ubezpieczen SA | 194,354 | 2,334,574 | ||||||
| Portugal — 0.7% | ||||||||
| Banco Comercial Portugues SA Class R (c) | 4,043,426 | 1,224,962 | ||||||
| Galp Energia SGPS SA | 413,546 | 6,083,296 | ||||||
| Jeronimo Martins SGPS SA | 137,869 | 3,505,521 | ||||||
| 10,813,779 | ||||||||
| Republic of Korea — 4.0% | ||||||||
| CJ CheilJedang Corp. | 6,436 | 1,617,045 | ||||||
| HL Mando Co. Ltd. | 16,262 | 495,015 | ||||||
| Hyundai Motor Co. | 18,369 | 2,894,506 | ||||||
| KT Corp. (c) | 66,174 | 1,764,467 | ||||||
| KT Corp. Sponsored ADR (c) | 155,074 | 2,084,195 | ||||||
| LG Chem Ltd. | 10,212 | 3,933,423 | ||||||
| Lotte Chemical Corp. | 21,798 | 2,587,637 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| NAVER Corp. (c) | 24,455 | $ | 4,232,447 | |||||
| Samsung Electronics Co. Ltd. | 633,905 | 38,554,048 | ||||||
| SK Hynix, Inc. | 43,677 | 4,768,881 | ||||||
| 62,931,664 | ||||||||
| Russia — 0.0% | ||||||||
| Gazprom PJSC (c) (d) (e) | 496,602 | — | ||||||
| Novatek PJSC (d) (e) | 73,140 | — | ||||||
| TCS Group Holding, PLC GDR (b) (c) (d) (e) | 10,848 | — | ||||||
| — | ||||||||
| Saudi Arabia — 1.1% | ||||||||
| Al Rajhi Bank | 62,361 | 1,445,899 | ||||||
| Arabian Internet & Communications Services Co. | 4,391 | 405,275 | ||||||
| Nahdi Medical Co. | 20,581 | 751,911 | ||||||
| Saudi Awwal Bank | 327,528 | 3,281,505 | ||||||
| Saudi Basic Industries Corp. | 151,624 | 3,367,687 | ||||||
| Saudi National Bank | 770,606 | 7,944,375 | ||||||
| 17,196,652 | ||||||||
| Singapore — 0.8% | ||||||||
| DBS Group Holdings Ltd. | 85,900 | 2,170,242 | ||||||
| Jardine Cycle & Carriage Ltd. | 60,800 | 1,367,003 | ||||||
| Sea Ltd. ADR (c) | 44,572 | 1,805,166 | ||||||
| United Overseas Bank Ltd. | 312,200 | 6,719,302 | ||||||
| 12,061,713 | ||||||||
| South Africa — 0.8% | ||||||||
| Bid Corp. Ltd. | 30,943 | 722,033 | ||||||
| Capitec Bank Holdings Ltd. | 28,968 | 3,200,225 | ||||||
| Clicks Group Ltd. | 93,444 | 1,664,627 | ||||||
| FirstRand Ltd. | 734,642 | 2,948,960 | ||||||
| Foschini Group Ltd. | 172,930 | 1,048,384 | ||||||
| Kumba Iron Ore Ltd. | 61,920 | 2,082,446 | ||||||
| Woolworths Holdings Ltd. | 181,789 | 717,982 | ||||||
| 12,384,657 | ||||||||
| Spain — 0.7% | ||||||||
| Amadeus IT Group SA | 83,471 | 5,986,544 | ||||||
| Fluidra SA | 73,153 | 1,525,374 | ||||||
| Iberdrola SA | 319,612 | 4,179,921 | ||||||
| 11,691,839 | ||||||||
| Sweden — 2.1% | ||||||||
| Assa Abloy AB Class B | 114,161 | 3,288,911 | ||||||
| Autoliv, Inc. SDR | 24,980 | 2,737,454 | ||||||
| Boliden AB | 55,183 | 1,721,599 | ||||||
| Elekta AB Class B | 193,590 | 1,580,378 | ||||||
| Essity AB Class B | 178,065 | 4,412,670 | ||||||
| Hexagon AB Class B | 191,482 | 2,306,994 | ||||||
| Sandvik AB | 126,523 | 2,738,436 | ||||||
| Svenska Handelsbanken AB Class A | 309,181 | 3,355,763 | ||||||
| Swedbank AB Class A | 203,637 | 4,114,422 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Telefonaktiebolaget LM Ericsson Class B | 943,399 | $ | 5,961,860 | |||||
| 32,218,487 | ||||||||
| Switzerland — 3.5% | ||||||||
| ABB Ltd. Registered | 117,324 | 5,213,772 | ||||||
| Alcon, Inc. | 93,748 | 7,343,896 | ||||||
| Barry Callebaut AG Registered | 1,047 | 1,769,452 | ||||||
| Cie Financiere Richemont SA Registered | 7,131 | 983,603 | ||||||
| DSM-Firmenich AG | 12,935 | 1,316,995 | ||||||
| Julius Baer Group Ltd. | 115,640 | 6,497,823 | ||||||
| Novartis AG Registered | 107,434 | 10,847,559 | ||||||
| Partners Group Holding AG | 2,773 | 4,009,135 | ||||||
| Sandoz Group AG (c) | 72,195 | 2,328,881 | ||||||
| Sonova Holding AG Registered | 1,805 | 590,250 | ||||||
| UBS Group AG Registered | 144,986 | 4,503,086 | ||||||
| Zurich Insurance Group AG | 15,785 | 8,252,525 | ||||||
| 53,656,977 | ||||||||
| Taiwan — 3.7% | ||||||||
| ASE Technology Holding Co. Ltd. | 962,000 | 4,218,895 | ||||||
| Bizlink Holding, Inc. | 213,308 | 1,852,492 | ||||||
| Chailease Holding Co. Ltd. | 183,720 | 1,152,974 | ||||||
| Hon Hai Precision Industry Co. Ltd. | 1,175,000 | 3,996,542 | ||||||
| Largan Precision Co. Ltd. | 11,000 | 1,025,966 | ||||||
| MediaTek, Inc. | 187,000 | 6,158,970 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 2,006,000 | 38,606,439 | ||||||
| 57,012,278 | ||||||||
| Thailand — 0.4% | ||||||||
| Bangkok Dusit Medical Services PCL Class F | 1,039,800 | 845,366 | ||||||
| Bangkok Dusit Medical Services PCL NVDR | 877,900 | 713,740 | ||||||
| Bumrungrad Hospital PCL | 163,700 | 1,064,011 | ||||||
| CP ALL PCL | 863,000 | 1,415,894 | ||||||
| SCB X PCL | 744,900 | 2,311,488 | ||||||
| Siam Cement PCL Registered | 67,500 | 604,508 | ||||||
| 6,955,007 | ||||||||
| United Arab Emirates — 0.1% | ||||||||
| First Abu Dhabi Bank PJSC | 407,318 | 1,549,106 | ||||||
| United Kingdom — 9.0% | ||||||||
| Ashtead Group PLC | 84,930 | 5,884,840 | ||||||
| AstraZeneca PLC Sponsored ADR | 315,191 | 21,228,114 | ||||||
| Barclays PLC | 1,028,632 | 2,003,545 | ||||||
| BP PLC | 755,926 | 4,467,158 | ||||||
| Bridgepoint Group PLC (b) | 760,323 | 2,693,554 | ||||||
| British American Tobacco PLC | 54,576 | 1,592,651 | ||||||
| BT Group PLC | 1,301,977 | 2,045,165 | ||||||
| Bunzl PLC | 54,819 | 2,225,160 | ||||||
| CK Hutchison Holdings Ltd. | 288,500 | 1,552,812 | ||||||
| Compass Group PLC | 165,858 | 4,532,056 | ||||||
| DCC PLC | 30,118 | 2,210,033 | ||||||
| Diageo PLC | 96,971 | 3,521,424 | ||||||
| Dowlais Group PLC | 494,221 | 671,059 | ||||||
| Dr Martens PLC | 36,494 | 41,145 | ||||||
| Great Portland Estates PLC | 350,507 | 1,872,834 | ||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Hiscox Ltd. | 52,956 | $ | 710,301 | |||||
| HSBC Holdings PLC | 659,106 | 5,323,657 | ||||||
| Imperial Brands PLC | 187,083 | 4,299,136 | ||||||
| Informa PLC | 220,127 | 2,185,373 | ||||||
| Investec PLC | 185,662 | 1,253,370 | ||||||
| Johnson Matthey PLC | 76,767 | 1,659,427 | ||||||
| Kingfisher PLC | 1,055,364 | 3,266,183 | ||||||
| Lloyds Banking Group PLC | 8,378,801 | 5,073,564 | ||||||
| London Stock Exchange Group PLC | 32,062 | 3,790,170 | ||||||
| Melrose Industries PLC | 439,562 | 3,175,849 | ||||||
| National Grid PLC | 259,300 | 3,501,155 | ||||||
| Next PLC | 44,877 | 4,632,687 | ||||||
| Pearson PLC | 149,466 | 1,835,281 | ||||||
| Persimmon PLC | 96,808 | 1,707,451 | ||||||
| Rolls-Royce Holdings PLC (c) | 1,859,720 | 7,082,555 | ||||||
| Smith & Nephew PLC | 319,594 | 4,375,065 | ||||||
| Smiths Group PLC | 94,205 | 2,113,871 | ||||||
| Standard Chartered PLC | 161,983 | 1,370,208 | ||||||
| Taylor Wimpey PLC | 1,036,387 | 1,937,417 | ||||||
| Unilever PLC (ULVR LN) | 279,769 | 13,536,318 | ||||||
| Unilever PLC (UNA NA) | 55,899 | 2,706,669 | ||||||
| Vodafone Group PLC Sponsored ADR | 181,194 | 1,576,388 | ||||||
| WPP PLC | 625,732 | 5,948,221 | ||||||
| 139,601,866 | ||||||||
| United States — 5.9% | ||||||||
| Amcor PLC CDI | 219,968 | 2,126,350 | ||||||
| Broadcom, Inc. | 5,726 | 6,391,647 | ||||||
| BRP, Inc. | 18,731 | 1,340,382 | ||||||
| Canva, Inc. (Acquired 8/16/21-11/04/21, Cost $652,842) (c) (d) (e) (f) | 383 | 408,531 | ||||||
| Experian PLC | 58,225 | 2,372,772 | ||||||
| Globant SA (c) | 5,558 | 1,322,693 | ||||||
| GSK PLC Sponsored ADR | 174,496 | 6,466,822 | ||||||
| Holcim AG | 33,196 | 2,606,807 | ||||||
| Las Vegas Sands Corp. | 53,018 | 2,609,016 | ||||||
| Linde PLC | 6,663 | 2,711,818 | ||||||
| Mastercard, Inc. Class A | 6,937 | 2,958,700 | ||||||
| Nestle SA Registered | 166,868 | 19,312,864 | ||||||
| Roche Holding AG | 47,371 | 13,729,638 | ||||||
| Samsonite International SA (b) (c) | 428,400 | 1,409,842 | ||||||
| Sanofi SA | 134,512 | 13,335,708 | ||||||
| Signify NV (b) | 60,301 | 2,020,066 | ||||||
| Stellantis NV | 140,488 | 3,293,405 | ||||||
| Tenaris SA | 170,661 | 2,967,344 | ||||||
| Waste Connections, Inc. | 24,580 | 3,669,057 | ||||||
| 91,053,462 | ||||||||
| TOTAL COMMON STOCK (Cost $1,328,579,409) | 1,509,503,749 | |||||||
| PREFERRED STOCK — 0.7% | ||||||||
| Brazil — 0.2% | ||||||||
| Banco Bradesco SA 9.929% | ||||||||
| 744,100 | 2,590,972 | |||||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Germany — 0.5% | ||||||||
| Dr Ing hc F Porsche AG 1.262% | ||||||||
| (b) | 27,038 | $ | 2,384,376 | |||||
| Sartorius AG 0.434% | ||||||||
| 7,760 | 2,855,060 | |||||||
| Volkswagen AG 7.837% | ||||||||
| 18,910 | 2,334,197 | |||||||
| 7,573,633 | ||||||||
| United States — 0.0% | ||||||||
| Canva, Inc., Series A, (Acquired 11/04/21, Cost $39,209) | ||||||||
| (c) (d) (e) (f) | 23 | 24,533 | ||||||
| TOTAL PREFERRED STOCK (Cost $10,117,431) | 10,189,138 | |||||||
| TOTAL EQUITIES (Cost $1,338,696,840) | 1,519,692,887 | |||||||
| WARRANTS — 0.0% | ||||||||
| Canada — 0.0% | ||||||||
| Constellation Software Inc. (a) (c) (d) (e) | 1,982 | — | ||||||
| TOTAL WARRANTS (Cost $0) | — | |||||||
| RIGHTS — 0.0% | ||||||||
| Brazil — 0.0% | ||||||||
| Localiza Rent a Car SA (c) | 938 | 3,862 | ||||||
| Russia — 0.0% | ||||||||
| Moscow Exchange MICEX-Rates PJSC (MOEX RM) (c) (d) (e) | 1,181,630 | — | ||||||
| Moscow Exchange MICEX-Rates PJSC (MOEX RU) (c) (d) (e) | 83,990 | — | ||||||
| — | ||||||||
| TOTAL RIGHTS (Cost $2,619,126) | 3,862 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,341,315,966) | 1,519,696,749 | |||||||
| SHORT-TERM INVESTMENTS — 2.1% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.3% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 5,216,401 | 5,216,401 | ||||||
| Mutual Fund — 1.8% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 28,148,069 | 28,148,069 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.0% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (h) | $ | 598,890 | 598,890 | |||||
| MassMutual Select T. Rowe Price International Equity Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $33,963,360) | $ | 33,963,360 | ||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,375,279,326) (i) | 1,553,660,109 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (51,237) | |||||||
| NET ASSETS — 100.0% | $ | 1,553,608,872 | ||||||
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 December 31, 2023, was $25,579,481 or 1.65% of net assets. The Fund received $21,602,061 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (b) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $38,076,488 or 2.45% of net assets. |
| (c) | Non-income producing security. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $433,064 or 0.03% of net assets. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $433,064 or 0.03% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $598,996. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $610,937. |
| (i) | See Note 3 for aggregate cost for federal tax purposes. |
| OTC Options Written | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||||||
| PARTNERS GROUP HOLDING AG | Goldman Sachs International | 1/19/24 | 1,200.00 | 15 | CHF | 1,800,000 | $ | (7,246) | $ | (2,092) | $ | (5,154) | ||||||||||||||||||||
| Adyen NV | JP Morgan Chase Bank N.A. | 1/19/24 | 1,200.00 | 15 | EUR | 1,800,000 | (2,899) | (5,402) | 2,503 | |||||||||||||||||||||||
| Adyen NV | JP Morgan Chase Bank N.A. | 1/19/24 | 1,300.00 | 14 | EUR | 1,820,000 | (356) | (2,748) | 2,392 | |||||||||||||||||||||||
| Daimler Truck Holding AG | Morgan Stanley & Co. LLC | 1/19/24 | 34.00 | 53 | EUR | 180,200 | — | (1,144) | 1,144 | |||||||||||||||||||||||
| AKZO NOBEL NV | Morgan Stanley & Co. LLC | 1/19/24 | 74.00 | 24 | EUR | 177,600 | (4,885) | (3,059) | (1,826) | |||||||||||||||||||||||
| CAPGEMINI SE | Morgan Stanley & Co. LLC | 1/19/24 | 200.00 | 9 | EUR | 180,000 | (436) | (2,419) | 1,983 | |||||||||||||||||||||||
| CAPGEMINI SE | Morgan Stanley & Co. LLC | 1/19/24 | 205.00 | 8 | EUR | 164,000 | (113) | (1,166) | 1,053 | |||||||||||||||||||||||
| Daimler Truck Holding AG | Morgan Stanley & Co. LLC | 2/16/24 | 35.00 | 50 | EUR | 175,000 | (3,506) | (3,733) | 227 | |||||||||||||||||||||||
| AKZO NOBEL NV | Morgan Stanley & Co. LLC | 2/16/24 | 76.00 | 24 | EUR | 182,400 | (5,342) | (5,140) | (202) | |||||||||||||||||||||||
| $ | (24,783) | $ | (26,903) | $ | 2,120 | |||||||||||||||||||||||||||
Currency Legend
| CHF | Swiss Franc |
| EUR | Euro |
| MassMutual 20/80 Allocation Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 20.8% | ||||||||
| DFA Commodity Strategy Portfolio | 182,129 | $ | 792,260 | |||||
| Invesco Real Estate Fund, Class R6 | 44,119 | 759,721 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 167,723 | 3,330,971 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 191,633 | 2,194,199 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 284,565 | 4,880,296 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 233,555 | 1,971,206 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 154,266 | 950,282 | ||||||
| MassMutual International Equity Fund, Class I (a) | 158,216 | 1,329,014 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 54,559 | 1,080,275 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 92,795 | 1,069,004 | ||||||
| MassMutual Overseas Fund, Class I (a) | 310,910 | 2,695,591 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 20,143 | 294,894 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 69,293 | 586,216 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 51,360 | 514,118 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,215,978 | 8,815,841 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 182,414 | 2,809,181 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 15,594 | 532,848 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 5,145 | 1,482,012 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 5,916 | 604,570 | ||||||
| 36,692,499 | ||||||||
| Fixed Income Funds — 79.2% | ||||||||
| Invesco International Bond Fund, Class R6 | 1,580,368 | 7,016,833 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 3,212,164 | 29,070,082 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 23,051 | 203,079 | ||||||
| MassMutual High Yield Fund, Class I (a) | 61,475 | 485,040 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 73,690 | 686,787 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 1,195,928 | 10,619,844 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 4,061,005 | 35,411,962 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 4,801,575 | 40,861,399 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 155,031 | 3,215,344 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 1,211,700 | 11,765,604 | ||||||
| 139,335,974 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $191,066,450) | 176,028,473 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $191,066,450) | 176,028,473 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $191,066,450) (b) | 176,028,473 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (10,409) | |||||||
| NET ASSETS — 100.0% | $ | 176,018,064 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 40/60 Allocation Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 41.1% | ||||||||
| DFA Commodity Strategy Portfolio | 184,297 | $ | 801,693 | |||||
| Invesco Real Estate Fund, Class R6 | 88,591 | 1,525,530 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 339,433 | 6,741,131 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 386,627 | 4,426,876 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 573,918 | 9,842,693 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 470,483 | 3,970,877 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 305,988 | 1,884,883 | ||||||
| MassMutual International Equity Fund, Class I (a) | 317,500 | 2,667,001 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 109,543 | 2,168,947 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 186,795 | 2,151,883 | ||||||
| MassMutual Overseas Fund, Class I (a) | 630,014 | 5,462,221 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 40,544 | 593,565 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 139,166 | 1,177,341 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 104,166 | 1,042,700 | ||||||
| MM Equity Asset Fund, Class I (a) | 2,465,746 | 17,876,657 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 368,709 | 5,689,180 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 31,544 | 1,077,860 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 10,404 | 2,997,004 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 11,965 | 1,222,682 | ||||||
| 73,320,724 | ||||||||
| Fixed Income Funds — 59.0% | ||||||||
| Invesco International Bond Fund, Class R6 | 1,196,373 | 5,311,894 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 2,421,533 | 21,914,875 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 17,445 | 153,691 | ||||||
| MassMutual High Yield Fund, Class I (a) | 46,442 | 366,429 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 55,974 | 521,681 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 900,898 | 7,999,977 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 3,062,998 | 26,709,344 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 3,621,474 | 30,818,742 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 128,814 | 2,671,594 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 913,548 | 8,870,548 | ||||||
| 105,338,775 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $194,286,083) | 178,659,499 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $194,286,083) | 178,659,499 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $194,286,083) (b) | 178,659,499 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (118,718) | |||||||
| NET ASSETS — 100.0% | $ | 178,540,781 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 60/40 Allocation Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 61.1% | ||||||||
| DFA Commodity Strategy Portfolio | 172,036 | $ | 748,358 | |||||
| Invesco Real Estate Fund, Class R6 | 123,317 | 2,123,515 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 467,723 | 9,288,980 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 535,584 | 6,132,440 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 794,897 | 13,632,481 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 648,562 | 5,473,860 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 426,489 | 2,627,175 | ||||||
| MassMutual International Equity Fund, Class I (a) | 439,207 | 3,689,337 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 152,798 | 3,025,397 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 258,797 | 2,981,337 | ||||||
| MassMutual Overseas Fund, Class I (a) | 859,789 | 7,454,366 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 56,250 | 823,504 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 193,045 | 1,633,158 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 142,077 | 1,422,188 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,396,673 | 24,625,882 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 516,596 | 7,971,083 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 44,216 | 1,510,853 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 14,576 | 4,199,034 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 16,766 | 1,713,285 | ||||||
| 101,076,233 | ||||||||
| Fixed Income Funds — 39.0% | ||||||||
| Invesco International Bond Fund, Class R6 | 736,214 | 3,268,790 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 1,470,703 | 13,309,863 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 10,820 | 95,323 | ||||||
| MassMutual High Yield Fund, Class I (a) | 28,450 | 224,471 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 35,195 | 328,022 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 554,824 | 4,926,834 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,859,011 | 16,210,572 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 2,197,285 | 18,698,895 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 94,455 | 1,958,998 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 563,004 | 5,466,770 | ||||||
| 64,488,538 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $174,641,099) | 165,564,771 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $174,641,099) | 165,564,771 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $174,641,099) (b) | 165,564,771 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (83,750) | |||||||
| NET ASSETS — 100.0% | $ | 165,481,021 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual 80/20 Allocation Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 80.9% | ||||||||
| DFA Commodity Strategy Portfolio | 130,544 | $ | 567,866 | |||||
| Invesco Real Estate Fund, Class R6 | 124,510 | 2,144,060 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 472,610 | 9,386,040 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 544,872 | 6,238,784 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 808,561 | 13,866,828 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 655,231 | 5,530,146 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 430,121 | 2,649,545 | ||||||
| MassMutual International Equity Fund, Class I (a) | 445,175 | 3,739,470 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 154,380 | 3,056,727 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 262,692 | 3,026,215 | ||||||
| MassMutual Overseas Fund, Class I (a) | 870,921 | 7,550,886 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 56,834 | 832,055 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 195,112 | 1,650,650 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 144,201 | 1,443,455 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,435,864 | 24,910,013 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 523,303 | 8,074,573 | ||||||
| Vanguard Emerging Markets Stock Index Fund, Admiral Shares | 44,780 | 1,530,133 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 14,764 | 4,252,974 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 16,981 | 1,735,316 | ||||||
| 102,185,736 | ||||||||
| Fixed Income Funds — 19.1% | ||||||||
| Invesco International Bond Fund, Class R6 | 281,163 | 1,248,365 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 541,829 | 4,903,549 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 7,027 | 61,907 | ||||||
| MassMutual High Yield Fund, Class I (a) | 7,961 | 62,810 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 13,226 | 123,266 | ||||||
| MassMutual Short-Duration Bond Fund, Class I (a) | 208,166 | 1,848,518 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 684,681 | 5,970,419 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 810,352 | 6,896,100 | ||||||
| Vanguard Long-Term Treasury Index Fund, Admiral Shares | 52,240 | 1,083,452 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 207,304 | 2,012,919 | ||||||
| 24,211,305 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $129,953,701) | 126,397,041 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $129,953,701) | 126,397,041 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $129,953,701) (b) | 126,397,041 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (47,243) | |||||||
| NET ASSETS — 100.0% | $ | 126,349,798 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan In Retirement Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 38.2% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 32,892 | $ | 510,158 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 54,517 | 1,030,918 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 74,006 | 1,469,757 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 75,620 | 865,845 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 131,944 | 2,262,835 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 134,860 | 1,138,217 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 75,859 | 467,294 | ||||||
| MassMutual International Equity Fund, Class I (a) | 184,651 | 1,551,069 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 40,392 | 799,761 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 66,353 | 764,389 | ||||||
| MassMutual Overseas Fund, Class I (a) | 317,825 | 2,755,542 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 40,897 | 598,732 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 93,400 | 790,163 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 93,049 | 931,420 | ||||||
| MM Equity Asset Fund, Class I (a) | 996,534 | 7,224,872 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 243,304 | 3,746,883 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 2,431 | 700,372 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 5,545 | 693,937 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 6,017 | 614,836 | ||||||
| 28,917,000 | ||||||||
| Fixed Income Funds — 61.9% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 6,272 | 38,574 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 5,824,141 | 5,824,141 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 1,869,302 | 16,917,188 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 4,217 | 37,155 | ||||||
| MassMutual High Yield Fund, Class I (a) | 691,077 | 5,452,594 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 295,265 | 2,751,872 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 666,360 | 5,810,660 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 672,750 | 5,725,102 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 451,089 | 4,380,074 | ||||||
| 46,937,360 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $79,363,464) | 75,854,360 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $79,363,464) | 75,854,360 | |||||||
| MassMutual RetireSMARTsm by JPMorgan In Retirement Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $79,363,464) (b) | $ | 75,854,360 | ||||||
| Other Assets/(Liabilities) — (0.1)% | (99,461) | |||||||
| NET ASSETS — 100.0% | $ | 75,754,899 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2020 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 38.2% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 52,477 | $ | 813,922 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 87,617 | 1,656,842 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 116,583 | 2,315,346 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 121,778 | 1,394,359 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 212,158 | 3,638,512 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 212,014 | 1,789,397 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 122,245 | 753,028 | ||||||
| MassMutual International Equity Fund, Class I (a) | 294,529 | 2,474,040 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 65,041 | 1,287,806 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 106,863 | 1,231,063 | ||||||
| MassMutual Overseas Fund, Class I (a) | 485,097 | 4,205,787 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 65,821 | 963,618 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 150,267 | 1,271,255 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 149,048 | 1,491,968 | ||||||
| MM Equity Asset Fund, Class I (a) | 1,568,487 | 11,371,527 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 399,189 | 6,159,483 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 3,995 | 1,150,758 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 9,111 | 1,140,184 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 9,886 | 1,010,215 | ||||||
| 46,119,110 | ||||||||
| Fixed Income Funds — 61.9% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 10,097 | 62,096 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 9,420,930 | 9,420,930 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 2,947,480 | 26,674,697 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 6,929 | 61,048 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,112,777 | 8,779,812 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 473,943 | 4,417,147 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,051,068 | 9,165,315 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,060,936 | 9,028,565 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 741,167 | 7,196,728 | ||||||
| 74,806,338 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $124,303,246) | 120,925,448 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $124,303,246) | 120,925,448 | |||||||
| MassMutual RetireSMARTsm by JPMorgan 2020 Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $124,303,246) (b) | $ | 120,925,448 | ||||||
| Other Assets/(Liabilities) — (0.1)% | (135,939) | |||||||
| NET ASSETS — 100.0% | $ | 120,789,509 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2025 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 46.9% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 114,401 | $ | 1,774,358 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 123,205 | 2,329,815 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 166,795 | 3,312,546 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 171,048 | 1,958,499 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 299,417 | 5,135,009 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 303,878 | 2,564,729 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 170,787 | 1,052,047 | ||||||
| MassMutual International Equity Fund, Class I (a) | 405,307 | 3,404,575 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 88,939 | 1,760,986 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 146,143 | 1,683,570 | ||||||
| MassMutual Overseas Fund, Class I (a) | 694,687 | 6,022,938 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 90,384 | 1,323,221 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 207,123 | 1,752,264 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 323,368 | 3,236,918 | ||||||
| MM Equity Asset Fund, Class I (a) | 2,245,511 | 16,279,958 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 529,167 | 8,165,041 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 5,356 | 1,542,900 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 12,130 | 1,518,082 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 13,269 | 1,355,963 | ||||||
| 66,173,419 | ||||||||
| Fixed Income Funds — 53.2% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 11,212 | 68,952 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 7,345,333 | 7,345,333 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 3,096,370 | 28,022,147 | ||||||
| MassMutual Global Floating Rate Fund, Class I (a) | 7,523 | 66,279 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,233,956 | 9,735,911 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 355,428 | 3,312,588 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,104,679 | 9,632,797 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,115,375 | 9,491,840 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 745,625 | 7,240,024 | ||||||
| 74,915,871 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $147,573,091) | 141,089,290 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $147,573,091) | 141,089,290 | |||||||
| MassMutual RetireSMARTsm by JPMorgan 2025 Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $147,573,091) (b) | $ | 141,089,290 | ||||||
| Other Assets/(Liabilities) — (0.1)% | (83,755) | |||||||
| NET ASSETS — 100.0% | $ | 141,005,535 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2030 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 59.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 297,866 | $ | 4,619,905 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 301,811 | 5,707,243 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 412,896 | 8,200,121 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 419,192 | 4,799,749 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 730,940 | 12,535,630 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 751,551 | 6,343,092 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 419,722 | 2,585,488 | ||||||
| MassMutual International Equity Fund, Class I (a) | 983,679 | 8,262,907 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 217,245 | 4,301,458 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 357,099 | 4,113,776 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,740,110 | 15,086,754 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 219,567 | 3,214,465 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 504,413 | 4,267,334 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 851,785 | 8,526,367 | ||||||
| MM Equity Asset Fund, Class I (a) | 5,556,131 | 40,281,950 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 1,290,742 | 19,916,154 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 12,956 | 3,732,323 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 29,328 | 3,670,456 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 32,161 | 3,286,546 | ||||||
| 163,451,718 | ||||||||
| Fixed Income Funds — 40.3% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 22,029 | 135,478 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 8,370,861 | 8,370,861 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 4,981,792 | 45,085,221 | ||||||
| MassMutual High Yield Fund, Class I (a) | 1,744,070 | 13,760,709 | ||||||
| MassMutual Inflation-Protected and Income Fund, Class I (a) | 56,305 | 524,761 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,776,861 | 15,494,228 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,794,330 | 15,269,749 | ||||||
| Vanguard Total Bond Market Index Fund, Institutional Shares | 1,185,804 | 11,514,153 | ||||||
| 110,155,160 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $279,128,912) | 273,606,878 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $279,128,912) | 273,606,878 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $279,128,912) (b) | 273,606,878 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (256,914) | |||||||
| NET ASSETS — 100.0% | $ | 273,349,964 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2035 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 72.0% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 401,307 | $ | 6,224,276 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 212,714 | 4,022,414 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 442,157 | 8,781,239 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 294,901 | 3,376,615 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 323,286 | 5,544,357 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 471,125 | 3,976,292 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 494,110 | 3,043,718 | ||||||
| MassMutual International Equity Fund, Class I (a) | 890,897 | 7,483,532 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 152,919 | 3,027,802 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 251,371 | 2,895,799 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,446,632 | 12,542,297 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 154,507 | 2,261,977 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 355,219 | 3,005,152 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 327,359 | 3,276,867 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,972,204 | 28,798,475 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 702,524 | 10,839,951 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 8,997 | 2,591,889 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 20,369 | 2,549,169 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 22,258 | 2,274,519 | ||||||
| 116,516,340 | ||||||||
| Fixed Income Funds — 28.1% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 12,713 | 78,185 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 4,342,902 | 4,342,902 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 876,914 | 7,936,070 | ||||||
| MassMutual High Yield Fund, Class I (a) | 605,501 | 4,777,402 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,522,649 | 13,277,503 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,537,372 | 13,083,036 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 203,366 | 1,974,685 | ||||||
| 45,469,783 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $167,972,074) | 161,986,123 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $167,972,074) | 161,986,123 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $167,972,074) (b) | 161,986,123 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (101,235) | |||||||
| NET ASSETS — 100.0% | $ | 161,884,888 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2040 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 81.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 553,573 | $ | 8,585,921 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 304,785 | 5,763,479 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 622,827 | 12,369,342 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 420,339 | 4,812,877 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 460,783 | 7,902,436 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 661,454 | 5,582,676 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 703,626 | 4,334,337 | ||||||
| MassMutual International Equity Fund, Class I (a) | 1,284,395 | 10,788,914 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 218,555 | 4,327,391 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 359,077 | 4,136,567 | ||||||
| MassMutual Overseas Fund, Class I (a) | 2,050,935 | 17,781,606 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 220,283 | 3,224,949 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 504,635 | 4,269,215 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 451,473 | 4,519,244 | ||||||
| MM Equity Asset Fund, Class I (a) | 5,587,139 | 40,506,759 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 1,051,997 | 16,232,311 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 13,243 | 3,814,934 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 30,268 | 3,788,100 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 32,659 | 3,337,442 | ||||||
| 166,078,500 | ||||||||
| Fixed Income Funds — 18.3% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 161,237 | 991,605 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 4,532,102 | 4,532,102 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 571,345 | 5,170,671 | ||||||
| MassMutual High Yield Fund, Class I (a) | 699,216 | 5,516,818 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,134,988 | 9,897,092 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,145,960 | 9,752,121 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 137,678 | 1,336,849 | ||||||
| 37,197,258 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $203,531,034) | 203,275,758 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $203,531,034) | 203,275,758 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $203,531,034) (b) | 203,275,758 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (153,964) | |||||||
| NET ASSETS — 100.0% | $ | 203,121,794 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2045 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 89.3% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 385,070 | $ | 5,972,429 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 199,632 | 3,775,047 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 417,489 | 8,291,341 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 277,327 | 3,175,392 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 301,850 | 5,176,724 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 444,447 | 3,751,129 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 464,172 | 2,859,299 | ||||||
| MassMutual International Equity Fund, Class I (a) | 849,945 | 7,139,538 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 144,396 | 2,859,042 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 237,447 | 2,735,384 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,386,789 | 12,023,459 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 146,224 | 2,140,718 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 332,825 | 2,815,703 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 315,715 | 3,160,312 | ||||||
| MM Equity Asset Fund, Class I (a) | 3,747,091 | 27,166,411 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 665,527 | 10,269,087 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 8,457 | 2,436,214 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 19,394 | 2,427,136 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 20,796 | 2,125,163 | ||||||
| 110,299,528 | ||||||||
| Fixed Income Funds — 10.8% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 71,848 | 441,867 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 2,720,126 | 2,720,126 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 185,522 | 1,678,974 | ||||||
| MassMutual High Yield Fund, Class I (a) | 206,514 | 1,629,399 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 368,329 | 3,211,826 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 372,267 | 3,167,996 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 42,475 | 412,436 | ||||||
| 13,262,624 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $126,310,821) | 123,562,152 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $126,310,821) | 123,562,152 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $126,310,821) (b) | 123,562,152 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (77,596) | |||||||
| NET ASSETS — 100.0% | $ | 123,484,556 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2050 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.1% | ||||||||
| Equity Funds — 92.1% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 473,713 | $ | 7,347,294 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 249,881 | 4,725,253 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 517,905 | 10,285,590 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 346,185 | 3,963,819 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 377,740 | 6,478,240 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 550,426 | 4,645,594 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 576,614 | 3,551,940 | ||||||
| MassMutual International Equity Fund, Class I (a) | 1,050,307 | 8,822,583 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 180,391 | 3,571,749 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 297,152 | 3,423,196 | ||||||
| MassMutual Overseas Fund, Class I (a) | 1,702,528 | 14,760,918 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 181,479 | 2,656,845 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 414,200 | 3,504,129 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 386,334 | 3,867,203 | ||||||
| MM Equity Asset Fund, Class I (a) | 4,644,908 | 33,675,581 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 870,974 | 13,439,125 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 11,065 | 3,187,481 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 25,373 | 3,175,374 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 27,303 | 2,790,071 | ||||||
| 137,871,985 | ||||||||
| Fixed Income Funds — 8.0% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 82,190 | 505,469 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 3,304,574 | 3,304,574 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 152,444 | 1,379,617 | ||||||
| MassMutual High Yield Fund, Class I (a) | 152,436 | 1,202,720 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 303,091 | 2,642,957 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 306,036 | 2,604,365 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 36,638 | 355,758 | ||||||
| 11,995,460 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $147,158,168) | 149,867,445 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $147,158,168) | 149,867,445 | |||||||
| TOTAL INVESTMENTS — 100.1% (Cost $147,158,168) (b) | 149,867,445 | |||||||
| Other Assets/(Liabilities) — (0.1)% | (114,195) | |||||||
| NET ASSETS — 100.0% | $ | 149,753,250 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2055 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 92.0% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 224,384 | $ | 3,480,190 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 115,874 | 2,191,178 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 238,874 | 4,744,035 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 160,930 | 1,842,649 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 174,700 | 2,996,112 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 254,563 | 2,148,509 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 268,671 | 1,655,015 | ||||||
| MassMutual International Equity Fund, Class I (a) | 494,938 | 4,157,477 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 83,920 | 1,661,611 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 138,083 | 1,590,715 | ||||||
| MassMutual Overseas Fund, Class I (a) | 792,349 | 6,869,666 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 84,512 | 1,237,258 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 193,401 | 1,636,176 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 183,070 | 1,832,529 | ||||||
| MM Equity Asset Fund, Class I (a) | 2,144,980 | 15,551,102 | ||||||
| Vanguard Developed Markets Index Fund, Institutional Shares | 380,579 | 5,872,331 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 4,835 | 1,392,705 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 11,086 | 1,387,436 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 11,929 | 1,219,072 | ||||||
| 63,465,766 | ||||||||
| Fixed Income Funds — 8.0% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 38,294 | 235,507 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 1,524,687 | 1,524,687 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 70,405 | 637,165 | ||||||
| MassMutual High Yield Fund, Class I (a) | 71,159 | 561,443 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 139,859 | 1,219,573 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 141,299 | 1,202,456 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 16,010 | 155,453 | ||||||
| 5,536,284 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $69,781,748) | 69,002,050 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $69,781,748) | 69,002,050 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $69,781,748) (b) | 69,002,050 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (33,820) | |||||||
| NET ASSETS — 100.0% | $ | 68,968,230 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2060 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 99.8% | ||||||||
| Equity Funds — 91.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 80,030 | $ | 1,241,272 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 41,150 | 778,153 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 86,254 | 1,713,008 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 57,099 | 653,779 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 62,007 | 1,063,425 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 91,914 | 775,750 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 95,828 | 590,297 | ||||||
| MassMutual International Equity Fund, Class I (a) | 174,530 | 1,466,053 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 29,926 | 592,536 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 48,994 | 564,410 | ||||||
| MassMutual Overseas Fund, Class I (a) | 284,963 | 2,470,630 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 30,318 | 443,854 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 68,810 | 582,134 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 66,596 | 666,628 | ||||||
| MM Equity Asset Fund, Class I (a) | 774,510 | 5,615,199 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 138,403 | 2,131,406 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 1,756 | 505,818 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 4,026 | 503,888 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 4,333 | 442,750 | ||||||
| 22,800,990 | ||||||||
| Fixed Income Funds — 8.0% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 13,726 | 84,418 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 541,638 | 541,638 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 25,436 | 230,199 | ||||||
| MassMutual High Yield Fund, Class I (a) | 25,265 | 199,338 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 50,545 | 440,748 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 51,051 | 434,447 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 5,814 | 56,450 | ||||||
| 1,987,238 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $24,518,248) | 24,788,228 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $24,518,248) | 24,788,228 | |||||||
| TOTAL INVESTMENTS — 99.8% (Cost $24,518,248) (b) | 24,788,228 | |||||||
| Other Assets/(Liabilities) — 0.2% | 39,110 | |||||||
| NET ASSETS — 100.0% | $ | 24,827,338 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual RetireSMARTsm by JPMorgan 2065 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 88.9% | ||||||||
| Equity Funds — 81.8% | ||||||||
| JPMorgan Emerging Markets Research Enhanced Equity Fund, Class R6 | 2,903 | $ | 45,030 | |||||
| JPMorgan Large Cap Value Fund, Class R6 | 1,576 | 29,802 | ||||||
| MassMutual Blue Chip Growth Fund, Class I (a) | 3,215 | 63,854 | ||||||
| MassMutual Diversified Value Fund, Class I (a) | 2,184 | 25,004 | ||||||
| MassMutual Equity Opportunities Fund, Class I (a) | 2,379 | 40,803 | ||||||
| MassMutual Fundamental Value Fund, Class I (a) | 3,417 | 28,842 | ||||||
| MassMutual Growth Opportunities Fund, Class I (a) | 3,650 | 22,482 | ||||||
| MassMutual International Equity Fund, Class I (a) | 6,430 | 54,010 | ||||||
| MassMutual Mid Cap Growth Fund, Class I (a) | 1,140 | 22,579 | ||||||
| MassMutual Mid Cap Value Fund, Class I (a) | 1,873 | 21,582 | ||||||
| MassMutual Overseas Fund, Class I (a) | 10,136 | 87,877 | ||||||
| MassMutual Small Cap Growth Equity Fund, Class I (a) | 1,150 | 16,837 | ||||||
| MassMutual Small Cap Value Equity Fund, Class I (a) | 2,618 | 22,148 | ||||||
| MassMutual Strategic Emerging Markets Fund, Class I (a) | 2,374 | 23,764 | ||||||
| MM Equity Asset Fund, Class I (a) | 28,835 | 209,052 | ||||||
| Vanguard Developed Markets Index Fund, Admiral Shares | 6,128 | 94,379 | ||||||
| Vanguard Mid-Cap Index Fund, Admiral Shares | 78 | 22,389 | ||||||
| Vanguard Real Estate Index Fund, Admiral Shares | 178 | 22,306 | ||||||
| Vanguard Small-Cap Index Fund, Admiral Shares | 192 | 19,599 | ||||||
| 872,339 | ||||||||
| Fixed Income Funds — 7.1% | ||||||||
| JPMorgan Emerging Markets Debt Fund, Class R6 | 523 | 3,214 | ||||||
| JPMorgan U.S. Government Money Market Fund, Class IM | 20,970 | 20,970 | ||||||
| MassMutual Core Bond Fund, Class I (a) | 953 | 8,621 | ||||||
| MassMutual High Yield Fund, Class I (a) | 974 | 7,685 | ||||||
| MassMutual Strategic Bond Fund, Class I (a) | 1,895 | 16,528 | ||||||
| MassMutual Total Return Bond Fund, Class I (a) | 1,913 | 16,280 | ||||||
| Vanguard Total Bond Market Index Fund, Admiral Shares | 257 | 2,500 | ||||||
| 75,798 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $924,104) | 948,137 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $924,104) | 948,137 | |||||||
| TOTAL INVESTMENTS — 88.9% (Cost $924,104) (b) | 948,137 | |||||||
| Other Assets/(Liabilities) — 11.1% | 118,388 | |||||||
| NET ASSETS — 100.0% | $ | 1,066,525 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MM Equity Asset Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 99.1% | ||||||||
| COMMON STOCK — 99.1% | ||||||||
| Basic Materials — 2.3% | ||||||||
| Chemicals — 2.1% | ||||||||
| Air Products & Chemicals, Inc. | 2,946 | $ | 806,615 | |||||
| Dow, Inc. | 25,615 | 1,404,726 | ||||||
| Eastman Chemical Co. | 8,630 | 775,147 | ||||||
| Linde PLC (LIN US) | 5,227 | 2,146,781 | ||||||
| LyondellBasell Industries NV Class A | 7,422 | 705,684 | ||||||
| PPG Industries, Inc. | 4,083 | 610,613 | ||||||
| 6,449,566 | ||||||||
| Iron & Steel — 0.2% | ||||||||
| Nucor Corp. | 2,734 | 475,825 | ||||||
| 6,925,391 | ||||||||
| Communications — 13.6% | ||||||||
| Internet — 11.8% | ||||||||
| Alphabet, Inc. Class A (a) | 44,499 | 6,216,065 | ||||||
| Alphabet, Inc. Class C (a) | 31,223 | 4,400,257 | ||||||
| Amazon.com, Inc. (a) | 79,970 | 12,150,642 | ||||||
| Booking Holdings, Inc. (a) | 610 | 2,163,804 | ||||||
| Expedia Group, Inc. (a) | 8,284 | 1,257,428 | ||||||
| Meta Platforms, Inc. Class A (a) | 20,014 | 7,084,156 | ||||||
| Netflix, Inc. (a) | 2,977 | 1,449,442 | ||||||
| Uber Technologies, Inc. (a) | 18,267 | 1,124,699 | ||||||
| 35,846,493 | ||||||||
| Media — 1.4% | ||||||||
| Charter Communications, Inc. Class A (a) | 2,990 | 1,162,153 | ||||||
| Comcast Corp. Class A | 57,850 | 2,536,723 | ||||||
| Liberty Media Corp.-Liberty SiriusXM Class A (a) | 5,399 | 155,167 | ||||||
| Warner Bros Discovery, Inc. (a) | 20,849 | 237,262 | ||||||
| 4,091,305 | ||||||||
| Telecommunications — 0.4% | ||||||||
| Corning, Inc. | 9,452 | 287,813 | ||||||
| Motorola Solutions, Inc. | 1,716 | 537,263 | ||||||
| T-Mobile US, Inc. | 3,155 | 505,841 | ||||||
| 1,330,917 | ||||||||
| 41,268,715 | ||||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Consumer, Cyclical — 8.6% | ||||||||
| Airlines — 0.1% | ||||||||
| Delta Air Lines, Inc. | 10,857 | $ | 436,777 | |||||
| Auto Manufacturers — 1.6% | ||||||||
| Tesla, Inc. (a) | 18,828 | 4,678,381 | ||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| Aptiv PLC (a) | 6,664 | 597,894 | ||||||
| BorgWarner, Inc. | 1,703 | 61,053 | ||||||
| 658,947 | ||||||||
| Distribution & Wholesale — 0.1% | ||||||||
| LKQ Corp. | 5,233 | 250,085 | ||||||
| Home Builders — 0.3% | ||||||||
| Lennar Corp. Class A | 2,827 | 421,336 | ||||||
| Toll Brothers, Inc. | 3,543 | 364,185 | ||||||
| 785,521 | ||||||||
| Leisure Time — 0.3% | ||||||||
| Royal Caribbean Cruises Ltd. (a) | 7,137 | 924,170 | ||||||
| Lodging — 0.3% | ||||||||
| Marriott International, Inc. Class A | 3,913 | 882,421 | ||||||
| Retail — 5.7% | ||||||||
| AutoNation, Inc. (a) | 3,201 | 480,726 | ||||||
| AutoZone, Inc. (a) | 645 | 1,667,718 | ||||||
| Best Buy Co., Inc. | 12,031 | 941,787 | ||||||
| Burlington Stores, Inc. (a) | 3,241 | 630,310 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 772 | 1,765,533 | ||||||
| Costco Wholesale Corp. | 4,432 | 2,925,475 | ||||||
| Dollar Tree, Inc. (a) | 2,746 | 390,069 | ||||||
| Lowe's Cos., Inc. | 13,156 | 2,927,868 | ||||||
| O'Reilly Automotive, Inc. (a) | 411 | 390,483 | ||||||
| Target Corp. | 9,596 | 1,366,662 | ||||||
| TJX Cos., Inc. | 10,096 | 947,106 | ||||||
| Walmart, Inc. | 10,174 | 1,603,931 | ||||||
| Yum! Brands, Inc. | 9,933 | 1,297,846 | ||||||
| 17,335,514 | ||||||||
| 25,951,816 | ||||||||
| Consumer, Non-cyclical — 17.8% | ||||||||
| Agriculture — 0.4% | ||||||||
| Altria Group, Inc. | 7,934 | 320,058 | ||||||
| Philip Morris International, Inc. | 8,237 | 774,937 | ||||||
| 1,094,995 | ||||||||
| Beverages — 2.0% | ||||||||
| Coca-Cola Co. | 47,294 | 2,787,036 | ||||||
| Constellation Brands, Inc. Class A | 1,062 | 256,739 | ||||||
| Monster Beverage Corp. (a) | 6,581 | 379,131 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| PepsiCo, Inc. | 15,473 | $ | 2,627,934 | |||||
| 6,050,840 | ||||||||
| Biotechnology — 1.7% | ||||||||
| Biogen, Inc. (a) | 3,662 | 947,616 | ||||||
| BioMarin Pharmaceutical, Inc. (a) | 2,901 | 279,714 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 2,098 | 1,842,652 | ||||||
| Sarepta Therapeutics, Inc. (a) | 1,117 | 107,712 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 4,632 | 1,884,715 | ||||||
| 5,062,409 | ||||||||
| Commercial Services — 1.1% | ||||||||
| Block, Inc. (a) | 1,987 | 153,694 | ||||||
| Cintas Corp. | 524 | 315,794 | ||||||
| FleetCor Technologies, Inc. (a) | 4,128 | 1,166,614 | ||||||
| S&P Global, Inc. | 2,679 | 1,180,153 | ||||||
| United Rentals, Inc. | 956 | 548,190 | ||||||
| 3,364,445 | ||||||||
| Cosmetics & Personal Care — 0.8% | ||||||||
| Kenvue, Inc. | 37,581 | 809,119 | ||||||
| Procter & Gamble Co. | 11,000 | 1,611,940 | ||||||
| 2,421,059 | ||||||||
| Food — 0.7% | ||||||||
| Mondelez International, Inc. Class A | 30,908 | 2,238,666 | ||||||
| Health Care – Products — 3.4% | ||||||||
| Baxter International, Inc. | 11,713 | 452,825 | ||||||
| Boston Scientific Corp. (a) | 37,311 | 2,156,949 | ||||||
| Danaher Corp. | 8,224 | 1,902,540 | ||||||
| Intuitive Surgical, Inc. (a) | 1,821 | 614,332 | ||||||
| Medtronic PLC | 19,802 | 1,631,289 | ||||||
| Stryker Corp. | 4,715 | 1,411,954 | ||||||
| Thermo Fisher Scientific, Inc. | 3,869 | 2,053,626 | ||||||
| 10,223,515 | ||||||||
| Health Care – Services — 2.5% | ||||||||
| Centene Corp. (a) | 12,053 | 894,453 | ||||||
| Elevance Health, Inc. | 2,808 | 1,324,140 | ||||||
| Humana, Inc. | 1,529 | 699,992 | ||||||
| Town Health International Medical Group Ltd. | 62,000 | 2,577 | ||||||
| UnitedHealth Group, Inc. | 9,033 | 4,755,604 | ||||||
| 7,676,766 | ||||||||
| Household Products & Wares — 0.3% | ||||||||
| Church & Dwight Co., Inc. | 8,667 | 819,552 | ||||||
| Pharmaceuticals — 4.9% | ||||||||
| AbbVie, Inc. | 23,674 | 3,668,760 | ||||||
| Becton Dickinson & Co. | 2,117 | 516,188 | ||||||
| Bristol-Myers Squibb Co. | 41,915 | 2,150,658 | ||||||
| CVS Health Corp. | 5,583 | 440,834 | ||||||
| Dexcom, Inc. (a) | 2,891 | 358,744 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Eli Lilly & Co. | 5,474 | $ | 3,190,904 | |||||
| Johnson & Johnson | 14,792 | 2,318,498 | ||||||
| McKesson Corp. | 987 | 456,961 | ||||||
| Merck & Co., Inc. | 14,691 | 1,601,613 | ||||||
| Neurocrine Biosciences, Inc. (a) | 1,601 | 210,948 | ||||||
| 14,914,108 | ||||||||
| 53,866,355 | ||||||||
| Energy — 3.9% | ||||||||
| Oil & Gas — 3.8% | ||||||||
| Chevron Corp. | 8,380 | 1,249,961 | ||||||
| ConocoPhillips | 17,626 | 2,045,850 | ||||||
| Diamondback Energy, Inc. | 8,000 | 1,240,640 | ||||||
| EOG Resources, Inc. | 16,877 | 2,041,273 | ||||||
| Exxon Mobil Corp. | 46,385 | 4,637,572 | ||||||
| Marathon Oil Corp. | 8,581 | 207,317 | ||||||
| 11,422,613 | ||||||||
| Oil & Gas Services — 0.1% | ||||||||
| Baker Hughes Co. | 10,833 | 370,272 | ||||||
| 11,792,885 | ||||||||
| Financial — 14.4% | ||||||||
| Banks — 4.3% | ||||||||
| Bank of America Corp. | 104,421 | 3,515,855 | ||||||
| Fifth Third Bancorp | 26,139 | 901,534 | ||||||
| Goldman Sachs Group, Inc. | 2,882 | 1,111,789 | ||||||
| Morgan Stanley | 18,333 | 1,709,553 | ||||||
| Truist Financial Corp. | 43,511 | 1,606,426 | ||||||
| US Bancorp | 38,989 | 1,687,444 | ||||||
| Wells Fargo & Co. | 50,142 | 2,467,989 | ||||||
| 13,000,590 | ||||||||
| Diversified Financial Services — 4.2% | ||||||||
| American Express Co. | 1,330 | 249,162 | ||||||
| Charles Schwab Corp. | 18,819 | 1,294,747 | ||||||
| CME Group, Inc. | 5,405 | 1,138,293 | ||||||
| Intercontinental Exchange, Inc. | 12,669 | 1,627,080 | ||||||
| Mastercard, Inc. Class A | 11,161 | 4,760,278 | ||||||
| Visa, Inc. Class A | 14,274 | 3,716,236 | ||||||
| 12,785,796 | ||||||||
| Insurance — 3.5% | ||||||||
| Aflac, Inc. | 9,092 | 750,090 | ||||||
| Berkshire Hathaway, Inc. Class B (a) | 11,237 | 4,007,788 | ||||||
| Chubb Ltd. | 4,301 | 972,026 | ||||||
| Globe Life, Inc. | 5,959 | 725,330 | ||||||
| MetLife, Inc. | 9,936 | 657,068 | ||||||
| Progressive Corp. | 11,368 | 1,810,695 | ||||||
| Travelers Cos., Inc. | 9,321 | 1,775,557 | ||||||
| 10,698,554 | ||||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Private Equity — 0.1% | ||||||||
| Blackstone, Inc. | 2,206 | $ | 288,810 | |||||
| Real Estate Investment Trusts (REITS) — 2.3% | ||||||||
| Digital Realty Trust, Inc. | 8,060 | 1,084,715 | ||||||
| Equity LifeStyle Properties, Inc. | 7,497 | 528,838 | ||||||
| Prologis, Inc. | 17,280 | 2,303,424 | ||||||
| SBA Communications Corp. | 4,166 | 1,056,873 | ||||||
| Sun Communities, Inc. | 2,662 | 355,776 | ||||||
| UDR, Inc. | 6,841 | 261,942 | ||||||
| Ventas, Inc. | 20,905 | 1,041,905 | ||||||
| Welltower, Inc. | 4,002 | 360,860 | ||||||
| 6,994,333 | ||||||||
| 43,768,083 | ||||||||
| Industrial — 7.9% | ||||||||
| Aerospace & Defense — 1.0% | ||||||||
| Howmet Aerospace, Inc. | 18,265 | 988,502 | ||||||
| RTX Corp. | 23,820 | 2,004,215 | ||||||
| 2,992,717 | ||||||||
| Building Materials — 1.0% | ||||||||
| Masco Corp. | 11,596 | 776,700 | ||||||
| Trane Technologies PLC | 9,083 | 2,215,344 | ||||||
| 2,992,044 | ||||||||
| Electrical Components & Equipment — 0.7% | ||||||||
| Eaton Corp. PLC | 8,104 | 1,951,605 | ||||||
| Electronics — 1.3% | ||||||||
| Honeywell International, Inc. | 15,418 | 3,233,309 | ||||||
| Keysight Technologies, Inc. (a) | 5,014 | 797,677 | ||||||
| 4,030,986 | ||||||||
| Machinery – Diversified — 1.7% | ||||||||
| Deere & Co. | 6,426 | 2,569,565 | ||||||
| Dover Corp. | 4,506 | 693,068 | ||||||
| Ingersoll Rand, Inc. | 3,185 | 246,328 | ||||||
| Otis Worldwide Corp. | 17,658 | 1,579,861 | ||||||
| 5,088,822 | ||||||||
| Miscellaneous - Manufacturing — 0.4% | ||||||||
| Textron, Inc. | 14,753 | 1,186,436 | ||||||
| Transportation — 1.8% | ||||||||
| CSX Corp. | 17,791 | 616,814 | ||||||
| FedEx Corp. | 3,494 | 883,877 | ||||||
| Norfolk Southern Corp. | 3,330 | 787,145 | ||||||
| Union Pacific Corp. | 3,580 | 879,320 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| United Parcel Service, Inc. Class B | 15,122 | $ | 2,377,632 | |||||
| 5,544,788 | ||||||||
| 23,787,398 | ||||||||
| Technology — 28.2% | ||||||||
| Computers — 8.8% | ||||||||
| Accenture PLC Class A | 7,170 | 2,516,025 | ||||||
| Apple, Inc. | 107,960 | 20,785,539 | ||||||
| Cognizant Technology Solutions Corp. Class A | 18,128 | 1,369,208 | ||||||
| Leidos Holdings, Inc. | 6,437 | 696,741 | ||||||
| Seagate Technology Holdings PLC | 14,661 | 1,251,609 | ||||||
| 26,619,122 | ||||||||
| Semiconductors — 8.7% | ||||||||
| Advanced Micro Devices, Inc. (a) | 18,087 | 2,666,205 | ||||||
| Analog Devices, Inc. | 11,817 | 2,346,384 | ||||||
| Broadcom, Inc. | 1,306 | 1,457,822 | ||||||
| Lam Research Corp. | 3,674 | 2,877,697 | ||||||
| NVIDIA Corp. | 20,627 | 10,214,903 | ||||||
| NXP Semiconductors NV | 11,938 | 2,741,920 | ||||||
| Qorvo, Inc. (a) | 4,219 | 475,102 | ||||||
| Teradyne, Inc. | 6,535 | 709,178 | ||||||
| Texas Instruments, Inc. | 17,088 | 2,912,820 | ||||||
| 26,402,031 | ||||||||
| Software — 10.7% | ||||||||
| Adobe, Inc. (a) | 5,556 | 3,314,709 | ||||||
| Cadence Design Systems, Inc. (a) | 2,070 | 563,806 | ||||||
| Fiserv, Inc. (a) | 3,317 | 440,630 | ||||||
| Intuit, Inc. | 3,688 | 2,305,111 | ||||||
| Microsoft Corp. | 60,658 | 22,809,834 | ||||||
| Oracle Corp. | 9,030 | 952,033 | ||||||
| ServiceNow, Inc. (a) | 2,890 | 2,041,756 | ||||||
| 32,427,879 | ||||||||
| 85,449,032 | ||||||||
| Utilities — 2.4% | ||||||||
| Electric — 2.4% | ||||||||
| Constellation Energy Corp. | 3,342 | 390,646 | ||||||
| DTE Energy Co. | 1,358 | 149,733 | ||||||
| NextEra Energy, Inc. | 29,709 | 1,804,525 | ||||||
| PG&E Corp. | 95,528 | 1,722,370 | ||||||
| Public Service Enterprise Group, Inc. | 18,637 | 1,139,652 | ||||||
| MM Equity Asset Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Southern Co. | 27,934 | $ | 1,958,732 | |||||
| 7,165,658 | ||||||||
| TOTAL COMMON STOCK (Cost $226,278,452) | 299,975,333 | |||||||
| TOTAL EQUITIES (Cost $226,278,452) | 299,975,333 | |||||||
| RIGHTS — 0.0% | ||||||||
| Consumer, Non-cyclical — 0.0% | ||||||||
| Biotechnology — 0.0% | ||||||||
| Tobira Therapeutics Inc., CVR (a) (b) (c) | 505 | — | ||||||
| TOTAL RIGHTS (Cost $30) | — | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $226,278,482) | 299,975,333 | |||||||
| SHORT-TERM INVESTMENTS — 0.7% | ||||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.7% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (d) | $ | 2,246,162 | 2,246,162 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,246,162) | 2,246,162 | |||||||
| TOTAL INVESTMENTS — 99.8% (Cost $228,524,644) (e) | 302,221,495 | |||||||
| Other Assets/(Liabilities) — 0.2% | 655,177 | |||||||
| NET ASSETS — 100.0% | $ | 302,876,672 | ||||||
Abbreviation Legend
| CVR | Contingent Value Rights |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $0 or 0.00% of net assets. |
| (c) | Investment is valued using significant unobservable inputs. |
| (d) | Maturity value of $2,246,561. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $2,291,085. |
| (e) | See Note 3 for aggregate cost for federal tax purposes. |
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| S&P 500 E Mini Index | 3/15/24 | 8 | $ | 1,889,465 | $ | 38,535 | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 93.4% | ||||||||
| BANK LOANS — 1.0% | ||||||||
| Advertising — 0.1% | ||||||||
| Lamar Media Corp., 2020 Term Loan B, 1 mo. USD Term SOFR + 1.500% | ||||||||
| 6.956% VRN 2/05/27 | $ | 305,000 | $ | 303,603 | ||||
| Aerospace & Defense — 0.0% | ||||||||
| TransDigm, Inc., 2022 Term Loan H, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.598% VRN 2/22/27 | 117,999 | 118,409 | ||||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.750% | ||||||||
| 10.427% VRN 4/20/28 | 76,500 | 78,485 | ||||||
| Mileage Plus Holdings LLC, 2020 Term Loan B, 3 mo. USD Term SOFR + 5.250% | ||||||||
| 10.770% VRN 6/21/27 | 72,211 | 74,583 | ||||||
| 153,068 | ||||||||
| Building Materials — 0.0% | ||||||||
| Summit Materials LLC, 2023 Incremental Term Loan B, | ||||||||
| 0.000% 11/30/28 (a) | 155,000 | 155,485 | ||||||
| Cosmetics & Personal Care — 0.0% | ||||||||
| Sunshine Luxembourg VII SARL, 2021 USD Term Loan B3, 3 mo. USD Term SOFR + 3.500% | ||||||||
| 8.948% VRN 10/01/26 | 112,958 | 113,443 | ||||||
| Diversified Financial Services — 0.1% | ||||||||
| Citadel Securities LP, 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500% | ||||||||
| 7.970% VRN 7/29/30 | 423,076 | 423,605 | ||||||
| Entertainment — 0.1% | ||||||||
| Delta 2 (LUX) SARL, 2022 Term Loan B, 3 mo. USD Term SOFR + 2.250% | ||||||||
| 7.598% VRN 1/15/30 | 240,000 | 240,451 | ||||||
| UFC Holdings LLC, 2021 Term Loan B, 3 mo. USD Term SOFR + 2.750% | ||||||||
| 8.399% VRN 4/29/26 | 265,293 | 265,993 | ||||||
| 506,444 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Filtration Group Corp., 2023 USD Term Loan, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.720% VRN 10/21/28 | 392,327 | 393,633 | ||||||
| Health Care – Products — 0.0% | ||||||||
| Medline Borrower LP, USD Term Loan B, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 10/23/28 | 214,139 | 215,008 | ||||||
| Insurance — 0.2% | ||||||||
| Asurion LLC | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2023 Term Loan B11, 1 mo. USD Term SOFR + 4.250% | ||||||||
| 9.706% VRN 8/19/28 | $ | 169,331 | $ | 168,515 | ||||
| 2021 2nd Lien Term Loan B3, 1 mo. USD Term SOFR + 5.250% | ||||||||
| 10.720% VRN 1/31/28 | 25,000 | 23,771 | ||||||
| 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.250% | ||||||||
| 10.720% VRN 1/20/29 | 255,000 | 239,779 | ||||||
| Hub International Ltd. | ||||||||
| 2022 Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.369% VRN 11/10/29 | 24,750 | 24,828 | ||||||
| 2023 Term Loan B, 3 mo. USD Term SOFR + 4.250% | ||||||||
| 9.662% VRN 6/20/30 | 402,014 | 403,529 | ||||||
| 860,422 | ||||||||
| Internet — 0.0% | ||||||||
| Gen Digital, Inc., 2021 Term Loan A, 1 mo. USD Term SOFR + 1.500% | ||||||||
| 6.956% VRN 9/10/27 | 123,500 | 122,960 | ||||||
| Lodging — 0.1% | ||||||||
| Hilton Domestic Operating Company, Inc. | ||||||||
| 2023 Term Loan B3, 1 mo. USD Term SOFR + 1.750% | ||||||||
| 7.207% VRN 6/21/28 | 220,000 | 220,321 | ||||||
| 2023 Term Loan B4, 1 mo. USD Term SOFR + 2.000% | ||||||||
| 7.455% VRN 11/08/30 | 220,000 | 220,669 | ||||||
| 440,990 | ||||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Brookfield WEC Holdings, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 2.750% | ||||||||
| 8.220% VRN 8/01/25 | 90,145 | 90,318 | ||||||
| Packaging & Containers — 0.0% | ||||||||
| Charter NEX US, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% | ||||||||
| 9.220% VRN 12/01/27 | 205,268 | 205,974 | ||||||
| Pharmaceuticals — 0.0% | ||||||||
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% | ||||||||
| 9.448% VRN 10/01/27 | 138,850 | 134,684 | ||||||
| Private Equity — 0.0% | ||||||||
| GTCR W Merger Sub LLC, USD Term Loan B, | ||||||||
| 0.000% 9/20/30 (a) | 220,000 | 220,825 | ||||||
| Retail — 0.0% | ||||||||
| WOOF Holdings, Inc., 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.750% | ||||||||
| 9.360% VRN 12/21/27 | 25,615 | 20,647 | ||||||
| Software — 0.3% | ||||||||
| Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.500% | ||||||||
| 9.848% VRN 9/18/26 | 478,611 | 480,296 | ||||||
| Ascend Learning LLC, 2021 Term Loan, 1 mo. USD Term SOFR + 3.500% | ||||||||
| 8.956% VRN 12/11/28 | 96,878 | 95,075 | ||||||
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.606% VRN 2/15/29 | 96,357 | 95,828 | ||||||
| Epicor Software Corp., 2020 Term Loan, 1 mo. USD Term SOFR + 3.250% | ||||||||
| 8.720% VRN 7/30/27 | 98,879 | 99,135 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| RealPage, Inc., 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.000% | ||||||||
| 8.470% VRN 4/24/28 | $ | 85,587 | $ | 84,806 | ||||
| Ultimate Software Group, Inc. | ||||||||
| 2021 Term Loan, 3 mo. USD Term SOFR + 3.250% | ||||||||
| 8.764% VRN 5/04/26 | 611,898 | 612,895 | ||||||
| 2021 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.250% | ||||||||
| 10.764% VRN 5/03/27 | 140,000 | 140,025 | ||||||
| 1,608,060 | ||||||||
| TOTAL BANK LOANS (Cost $6,085,727) | 6,087,578 | |||||||
| CORPORATE DEBT — 24.7% | ||||||||
| Advertising — 0.0% | ||||||||
| Interpublic Group of Cos., Inc. | ||||||||
| 4.650% 10/01/28 | 215,000 | 212,817 | ||||||
| Lamar Media Corp. | ||||||||
| 4.875% 1/15/29 | 80,000 | 77,225 | ||||||
| 290,042 | ||||||||
| Aerospace & Defense — 0.3% | ||||||||
| Boeing Co. | ||||||||
| 3.250% 2/01/28 | 100,000 | 94,878 | ||||||
| 5.040% 5/01/27 | 630,000 | 635,499 | ||||||
| 5.805% 5/01/50 | 335,000 | 346,910 | ||||||
| TransDigm, Inc. | ||||||||
| 6.750% 8/15/28 (b) | 85,000 | 86,962 | ||||||
| 6.875% 12/15/30 (b) | 246,000 | 253,380 | ||||||
| 7.125% 12/01/31 (b) | 220,000 | 230,541 | ||||||
| 1,648,170 | ||||||||
| Agriculture — 0.2% | ||||||||
| BAT Capital Corp. | ||||||||
| 2.259% 3/25/28 | 155,000 | 138,692 | ||||||
| 7.079% 8/02/43 | 215,000 | 228,295 | ||||||
| 7.081% 8/02/53 | 335,000 | 358,134 | ||||||
| BAT International Finance PLC | ||||||||
| 1.668% 3/25/26 | 90,000 | 83,597 | ||||||
| Darling Ingredients, Inc. | ||||||||
| 6.000% 6/15/30 (b) | 55,000 | 55,041 | ||||||
| Philip Morris International, Inc. | ||||||||
| 5.125% 2/15/30 | 280,000 | 284,569 | ||||||
| Reynolds American, Inc. | ||||||||
| 4.450% 6/12/25 | 53,000 | 52,381 | ||||||
| 1,200,709 | ||||||||
| Airlines — 0.0% | ||||||||
| American Airlines, Inc./AAdvantage Loyalty IP Ltd. | ||||||||
| 5.500% 4/20/26 (b) | 87,500 | 86,869 | ||||||
| Apparel — 0.1% | ||||||||
| VF Corp. | ||||||||
| 4.125% 3/07/26 EUR (c) | 112,000 | 122,236 | ||||||
| 4.250% 3/07/29 EUR (c) | 115,000 | 121,747 | ||||||
| 2.950% 4/23/30 | 180,000 | 150,139 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Wolverine World Wide, Inc. | ||||||||
| 4.000% 8/15/29 (b) (d) | $ | 90,000 | $ | 70,650 | ||||
| 464,772 | ||||||||
| Auto Manufacturers — 0.8% | ||||||||
| American Honda Finance Corp. | ||||||||
| 0.750% 11/25/26 GBP (c) | 130,000 | 149,689 | ||||||
| 1.950% 10/18/24 EUR (c) | 200,000 | 217,464 | ||||||
| 5.650% 11/15/28 | 390,000 | 408,165 | ||||||
| Daimler Truck Finance North America LLC | ||||||||
| 5.125% 1/19/28 (b) | 150,000 | 150,881 | ||||||
| Ford Motor Co. | ||||||||
| 9.625% 4/22/30 | 85,000 | 100,144 | ||||||
| Ford Motor Credit Co. LLC | ||||||||
| 4.867% 8/03/27 EUR (c) | 171,000 | 193,953 | ||||||
| 4.950% 5/28/27 | 265,000 | 258,520 | ||||||
| 5.125% 2/20/29 EUR (c) | 110,000 | 126,980 | ||||||
| 6.798% 11/07/28 | 200,000 | 209,273 | ||||||
| 7.122% 11/07/33 | 200,000 | 215,487 | ||||||
| 7.350% 11/04/27 | 200,000 | 210,910 | ||||||
| General Motors Financial Co., Inc. | ||||||||
| 0.850% 2/26/26 EUR (b) (c) | 150,000 | 157,120 | ||||||
| 4.000% 10/06/26 | 95,000 | 92,423 | ||||||
| 5.800% 6/23/28 | 90,000 | 92,481 | ||||||
| Hyundai Capital America | ||||||||
| 5.500% 3/30/26 (b) | 135,000 | 135,701 | ||||||
| 6.500% 1/16/29 (b) | 100,000 | 105,569 | ||||||
| Nissan Motor Acceptance Co. LLC | ||||||||
| 1.850% 9/16/26 (b) | 160,000 | 143,858 | ||||||
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC 6 mo. USD LIBOR + 5.625% | ||||||||
| 11.493% FRN 10/15/26 (b) | 145,000 | 144,566 | ||||||
| Volkswagen Financial Services AG | ||||||||
| 0.375% 2/12/30 EUR (b) (c) | 270,000 | 246,052 | ||||||
| Volkswagen Group of America Finance LLC | ||||||||
| 3.200% 9/26/26 (b) | 1,320,000 | 1,253,023 | ||||||
| Volkswagen Leasing GmbH | ||||||||
| 1.500% 6/19/26 EUR (b) (c) | 145,000 | 153,102 | ||||||
| 1.625% 8/15/25 EUR (b) (c) | 150,000 | 160,723 | ||||||
| 4,926,084 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Clarios Global LP/Clarios US Finance Co. | ||||||||
| 6.750% 5/15/28 (b) | 123,000 | 125,487 | ||||||
| Dana Financing Luxembourg SARL | ||||||||
| 8.500% 7/15/31 EUR (b) (c) | 100,000 | 120,580 | ||||||
| Goodyear Tire & Rubber Co. | ||||||||
| 5.000% 7/15/29 (d) | 140,000 | 132,276 | ||||||
| ZF North America Capital, Inc. | ||||||||
| 6.875% 4/14/28 (b) | 150,000 | 155,440 | ||||||
| 7.125% 4/14/30 (b) | 150,000 | 159,869 | ||||||
| 693,652 | ||||||||
| Banks — 7.5% | ||||||||
| AIB Group PLC Secured Overnight Financing Rate + 2.330% | ||||||||
| 6.608% VRN 9/13/29 (b) | 200,000 | 210,690 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Banca Transilvania SA 1 yr. EURIBOR ICE Swap + 5.580% | ||||||||
| 8.875% VRN 4/27/27 EUR (b) (c) | $ | 300,000 | $ | 348,181 | ||||
| Banco Bilbao Vizcaya Argentaria SA | ||||||||
| 3.375% 9/20/27 EUR (b) (c) | 200,000 | 222,701 | ||||||
| 5 yr. EURIBOR ICE Swap + 2.800% 5.750% VRN 9/15/33 EUR (b) (c) | 100,000 | 115,988 | ||||||
| Banco Comercial Portugues SA | ||||||||
| 3 mo. EURIBOR + 1.550% 1.125% VRN 2/12/27 EUR (b) (c) | 200,000 | 208,552 | ||||||
| 3 mo. EURIBOR + 2.000% 1.750% VRN 4/07/28 EUR (b) (c) | 100,000 | 103,012 | ||||||
| Banco de Credito del Peru SA 5 yr. CMT + 3.000% | ||||||||
| 3.125% VRN 7/01/30 (b) | 200,000 | 190,185 | ||||||
| Banco de Sabadell SA | ||||||||
| 1 yr. EURIBOR ICE Swap + 1.150% 0.875% VRN 6/16/28 EUR (b) (c) | 200,000 | 199,133 | ||||||
| 1 yr. EUR Swap + 2.250% 5.125% VRN 11/10/28 EUR (b) (c) | 100,000 | 116,023 | ||||||
| Banco Santander SA | ||||||||
| 1.125% 1/17/25 EUR (b) (c) | 200,000 | 214,750 | ||||||
| 2.746% 5/28/25 | 1,200,000 | 1,157,768 | ||||||
| 6.921% 8/08/33 | 200,000 | 213,133 | ||||||
| Bank Hapoalim BM 5 yr. CMT + 2.155% | ||||||||
| 3.255% VRN 1/21/32 (b) | 200,000 | 172,952 | ||||||
| Bank of America Corp. | ||||||||
| Secured Overnight Financing Rate + 1.530% 1.898% VRN 7/23/31 | 1,145,000 | 936,682 | ||||||
| Secured Overnight Financing Rate + 1.220% 2.299% VRN 7/21/32 | 425,000 | 347,028 | ||||||
| 2.375% 6/19/24 EUR (b) (c) | 150,000 | 164,313 | ||||||
| 2.375% 6/19/24 EUR (b) (c) | 150,000 | 164,313 | ||||||
| 3 mo. USD Term SOFR + 1.252% 2.496% VRN 2/13/31 | 1,735,000 | 1,489,873 | ||||||
| Secured Overnight Financing Rate + 2.150% 2.592% VRN 4/29/31 | 585,000 | 504,147 | ||||||
| 3 mo. USD Term SOFR + 1.302% 3.419% VRN 12/20/28 | 55,000 | 51,806 | ||||||
| 3 mo. USD Term SOFR + 1.322% 3.559% VRN 4/23/27 | 465,000 | 447,538 | ||||||
| 4.250% 10/22/26 | 302,000 | 296,508 | ||||||
| Secured Overnight Financing Rate + 1.570% 5.819% VRN 9/15/29 | 1,402,000 | 1,447,248 | ||||||
| Bank of Montreal | ||||||||
| 5.717% 9/25/28 | 90,000 | 93,269 | ||||||
| Bank of New York Mellon Corp. | ||||||||
| Secured Overnight Financing Rate + 1.598% 6.317% VRN 10/25/29 | 445,000 | 472,675 | ||||||
| Secured Overnight Financing Rate + 1.845% 6.474% VRN 10/25/34 | 510,000 | 564,919 | ||||||
| Banque Federative du Credit Mutuel SA | ||||||||
| 1.250% 5/26/27 EUR (b) (c) | 100,000 | 103,468 | ||||||
| 1.375% 7/16/28 EUR (b) (c) | 100,000 | 102,534 | ||||||
| 5.125% 1/13/33 EUR (b) (c) | 100,000 | 118,088 | ||||||
| Barclays PLC | ||||||||
| 1 yr. EUR Swap + 1.260% 0.577% VRN 8/09/29 EUR (b) (c) | 215,000 | 204,177 | ||||||
| 1 yr. EURIBOR ICE Swap + 0.850% 0.877% VRN 1/28/28 EUR (b) (c) | 100,000 | 101,312 | ||||||
| 1 yr. CMT + 1.050% 2.279% VRN 11/24/27 | 232,000 | 213,164 | ||||||
| Secured Overnight Financing Rate + 2.714% 2.852% VRN 5/07/26 | 211,000 | 203,436 | ||||||
| 1 yr. CMT + 2.300% 5.304% VRN 8/09/26 | 202,000 | 201,163 | ||||||
| 1 yr. CMT + 2.650% 5.501% VRN 8/09/28 | 225,000 | 226,042 | ||||||
| 1 yr. U.K. Government Bond + 2.800% 6.369% VRN 1/31/31 GBP (b) (c) | 125,000 | 165,191 | ||||||
| Secured Overnight Financing Rate + 2.620% 6.692% VRN 9/13/34 | 675,000 | 721,575 | ||||||
| 5 yr. SOFR Swap Rate + 5.775% 9.625% VRN (e) | 360,000 | 373,950 | ||||||
| BBVA Bancomer SA 5 yr. CMT + 2.650% | ||||||||
| 5.125% VRN 1/18/33 (b) | 300,000 | 271,793 | ||||||
| BNP Paribas SA 3 mo. EURIBOR + 1.800% | ||||||||
| 2.125% VRN 1/23/27 EUR (b) (c) | 200,000 | 214,408 | ||||||
| BPCE SA | ||||||||
| 0.250% 1/14/31 EUR (b) (c) | 200,000 | 177,557 | ||||||
| 3.500% 1/25/28 EUR (b) (c) | 100,000 | 111,571 | ||||||
| CaixaBank SA | ||||||||
| 1.125% 5/17/24 EUR (b) (c) | 100,000 | 109,214 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.750% 9/07/29 EUR (b) (c) | $ | 200,000 | $ | 226,334 | ||||
| Secured Overnight Financing Rate + 2.700% 6.208% VRN 1/18/29 (b) | 500,000 | 509,936 | ||||||
| 5 yr. EUR Swap + 3.550% 6.250% VRN 2/23/33 EUR (b) (c) | 100,000 | 116,436 | ||||||
| Secured Overnight Financing Rate + 2.080% 6.684% VRN 9/13/27 (b) | 420,000 | 430,532 | ||||||
| Secured Overnight Financing Rate + 2.770% 6.840% VRN 9/13/34 (b) | 245,000 | 258,699 | ||||||
| Citigroup, Inc. | ||||||||
| Secured Overnight Financing Rate + 1.167% 2.561% VRN 5/01/32 | 300,000 | 250,298 | ||||||
| Secured Overnight Financing Rate + 1.280% 3.070% VRN 2/24/28 | 570,000 | 537,098 | ||||||
| Secured Overnight Financing Rate + 2.842% 3.106% VRN 4/08/26 | 240,000 | 233,258 | ||||||
| 4.450% 9/29/27 | 140,000 | 136,781 | ||||||
| Secured Overnight Financing Rate + 1.887% 4.658% VRN 5/24/28 | 135,000 | 133,923 | ||||||
| Secured Overnight Financing Rate + 1.546% 5.610% VRN 9/29/26 | 565,000 | 569,116 | ||||||
| Secured Overnight Financing Rate + 2.661% 6.174% VRN 5/25/34 | 360,000 | 372,519 | ||||||
| Cooperatieve Rabobank UA | ||||||||
| 4.625% 5/23/29 GBP (b) (c) | 150,000 | 185,238 | ||||||
| Credit Agricole SA | ||||||||
| 0.875% 1/14/32 EUR (b) (c) | 200,000 | 181,294 | ||||||
| 1.000% 9/16/24 EUR (b) (c) | 200,000 | 216,417 | ||||||
| Danske Bank AS | ||||||||
| 1 yr. EURIBOR ICE Swap + 0.880% 0.750% VRN 6/09/29 EUR (b) (c) | 100,000 | 97,708 | ||||||
| 1 yr. EUR Swap + 0.850% 1.375% VRN 2/17/27 EUR (b) (c) | 110,000 | 115,649 | ||||||
| 5 yr. EUR Swap + 1.700% 1.375% VRN 2/12/30 EUR (b) (c) | 100,000 | 106,401 | ||||||
| 3 mo. USD LIBOR + 1.591% 3.244% VRN 12/20/25 (b) | 1,040,000 | 1,012,918 | ||||||
| 1 yr. CMT + 1.450% 3.773% VRN 3/28/25 (b) | 355,000 | 353,151 | ||||||
| Deutsche Bank AG Secured Overnight Financing Rate + 2.581% | ||||||||
| 3.961% VRN 11/26/25 | 320,000 | 314,751 | ||||||
| Fifth Third Bancorp | ||||||||
| 2.375% 1/28/25 | 90,000 | 87,018 | ||||||
| 2.550% 5/05/27 | 50,000 | 46,119 | ||||||
| 3.950% 3/14/28 | 155,000 | 148,562 | ||||||
| Secured Overnight Financing Rate + 2.340% 6.339% VRN 7/27/29 | 235,000 | 244,677 | ||||||
| Goldman Sachs Group, Inc. | ||||||||
| 1.375% 5/15/24 EUR (b) (c) | 40,000 | 43,729 | ||||||
| Secured Overnight Financing Rate + 0.818% 1.542% VRN 9/10/27 | 605,000 | 548,745 | ||||||
| 1.625% 7/27/26 EUR (b) (c) | 140,000 | 148,517 | ||||||
| Secured Overnight Financing Rate + 1.248% 2.383% VRN 7/21/32 | 510,000 | 419,029 | ||||||
| 3.500% 11/16/26 | 385,000 | 370,714 | ||||||
| Secured Overnight Financing Rate + 1.846% 3.615% VRN 3/15/28 | 550,000 | 527,525 | ||||||
| 1 yr. U.K. Government Bond + 1.950% 3.625% VRN 10/29/29 GBP (b) (c) | 85,000 | 102,445 | ||||||
| 3 mo. USD Term SOFR + 1.772% 3.691% VRN 6/05/28 | 190,000 | 181,533 | ||||||
| Secured Overnight Financing Rate + 1.725% 4.482% VRN 8/23/28 | 520,000 | 510,820 | ||||||
| HSBC Holdings PLC | ||||||||
| Secured Overnight Financing Rate + 1.929% 2.099% VRN 6/04/26 | 320,000 | 304,633 | ||||||
| 3 mo. EURIBOR + 1.290% 4.752% VRN 3/10/28 EUR (b) (c) | 280,000 | 320,526 | ||||||
| Secured Overnight Financing Rate + 2.110% 4.755% VRN 6/09/28 | 770,000 | 758,723 | ||||||
| Secured Overnight Financing Rate + 2.610% 5.210% VRN 8/11/28 | 440,000 | 439,613 | ||||||
| Secured Overnight Financing Rate + 3.020% 7.399% VRN 11/13/34 | 285,000 | 312,636 | ||||||
| Huntington National Bank Secured Overnight Financing Rate + 1.215% | ||||||||
| 5.699% VRN 11/18/25 | 250,000 | 246,875 | ||||||
| ING Groep NV | ||||||||
| 3 mo. EURIBOR + 0.850% 1.250% VRN 2/16/27 EUR (b) (c) | 200,000 | 209,907 | ||||||
| Secured Overnight Financing Rate + 2.090% 6.114% VRN 9/11/34 | 575,000 | 603,041 | ||||||
| Intesa Sanpaolo SpA | ||||||||
| 1.000% 7/04/24 EUR (b) (c) | 300,000 | 326,156 | ||||||
| 1.750% 7/04/29 EUR (b) (c) | 100,000 | 100,533 | ||||||
| 7.200% 11/28/33 (b) | 565,000 | 602,298 | ||||||
| JP Morgan Chase & Co. | ||||||||
| Secured Overnight Financing Rate + 0.885% 1.578% VRN 4/22/27 | 465,000 | 429,113 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3 mo. USD Term SOFR + 1.105% 1.764% VRN 11/19/31 | $ | 955,000 | $ | 773,981 | ||||
| Secured Overnight Financing Rate + 1.890% 2.182% VRN 6/01/28 | 675,000 | 617,393 | ||||||
| Secured Overnight Financing Rate + 2.040% 2.522% VRN 4/22/31 | 165,000 | 142,682 | ||||||
| 3 mo. USD Term SOFR + 1.510% 2.739% VRN 10/15/30 | 265,000 | 235,618 | ||||||
| 3 mo. USD Term SOFR + 2.515% 2.956% VRN 5/13/31 | 1,060,000 | 931,500 | ||||||
| JPMorgan Chase & Co. | ||||||||
| 3 mo. USD Term SOFR + 1.507% 3.960% VRN 1/29/27 | 140,000 | 136,756 | ||||||
| Secured Overnight Financing Rate + 1.810% 6.254% VRN 10/23/34 | 380,000 | 411,915 | ||||||
| KBC Group NV 1 yr. CMT + 2.100% | ||||||||
| 5.796% VRN 1/19/29 (b) | 620,000 | 630,460 | ||||||
| Kreditanstalt fuer Wiederaufbau | ||||||||
| 4.700% 6/02/37 CAD (c) | 65,000 | 51,853 | ||||||
| 4.700% 6/02/37 CAD (c) | 75,000 | 59,830 | ||||||
| Landsbankinn Hf. | ||||||||
| 0.375% 5/23/25 EUR (b) (c) | 265,000 | 274,332 | ||||||
| Morgan Stanley | ||||||||
| 3 mo. EURIBOR + 0.698% 0.406% VRN 10/29/27 EUR (c) | 100,000 | 101,326 | ||||||
| 3 mo. EURIBOR + 0.867% 0.495% VRN 10/26/29 EUR (c) | 260,000 | 247,659 | ||||||
| Secured Overnight Financing Rate + 0.858% 1.512% VRN 7/20/27 | 630,000 | 575,446 | ||||||
| Secured Overnight Financing Rate + 1.730% 5.123% VRN 2/01/29 | 880,000 | 884,002 | ||||||
| 3 mo. EURIBOR + 1.954% 5.148% VRN 1/25/34 EUR (c) | 100,000 | 121,178 | ||||||
| Nationale-Nederlanden Bank NV | ||||||||
| 0.375% 2/26/25 EUR (b) (c) | 100,000 | 106,320 | ||||||
| NatWest Group PLC | ||||||||
| 3 mo. EURIBOR + 0.949% 0.780% VRN 2/26/30 EUR (b) (c) | 180,000 | 171,093 | ||||||
| 5 yr. EUR Swap + 1.270% 1.043% VRN 9/14/32 EUR (b) (c) | 135,000 | 131,583 | ||||||
| NongHyup Bank | ||||||||
| 4.875% 7/03/28 (b) | 310,000 | 311,792 | ||||||
| OTP Bank Nyrt 3 mo. EURIBOR + 4.523% | ||||||||
| 7.350% VRN 3/04/26 EUR (b) (c) | 140,000 | 158,633 | ||||||
| PNC Financial Services Group, Inc. | ||||||||
| 2.550% 1/22/30 | 145,000 | 126,842 | ||||||
| Secured Overnight Financing Rate Index + 1.730% 6.615% VRN 10/20/27 | 95,000 | 98,546 | ||||||
| QNB Finance Ltd. | ||||||||
| 2.750% 2/12/27 (b) | 200,000 | 186,526 | ||||||
| Santander UK Group Holdings PLC | ||||||||
| 1 yr. EUR Swap + 0.800% 0.603% VRN 9/13/29 EUR (b) (c) | 275,000 | 260,995 | ||||||
| 1 yr. CMT + 1.250% 1.532% VRN 8/21/26 | 1,465,000 | 1,366,145 | ||||||
| 1 yr. GBP SONIA Linked ICE Swap + 1.250% 2.421% VRN 1/17/29 GBP (b) (c) | 100,000 | 113,813 | ||||||
| Shinhan Bank Co. Ltd. | ||||||||
| 4.500% 4/12/28 (b) | 330,000 | 326,901 | ||||||
| Standard Chartered PLC | ||||||||
| 1 yr. CMT + 1.000% 1.456% VRN 1/14/27 (b) | 295,000 | 270,132 | ||||||
| 5 yr. EUR Swap + 2.800% 2.500% VRN 9/09/30 EUR (b) (c) | 180,000 | 192,221 | ||||||
| 3 mo. USD LIBOR + 1.209% 2.819% VRN 1/30/26 (b) | 200,000 | 193,366 | ||||||
| 1 yr. CMT + 1.650% 3.971% VRN 3/30/26 (b) | 550,000 | 536,244 | ||||||
| Toronto-Dominion Bank | ||||||||
| 5.523% 7/17/28 | 95,000 | 97,806 | ||||||
| UBS Group AG | ||||||||
| Secured Overnight Financing Rate Index + 0.980% 1.305% VRN 2/02/27 (b) | 340,000 | 311,177 | ||||||
| 1 yr. GBP Swap + 1.230% 2.125% VRN 9/12/25 GBP (b) (c) | 250,000 | 310,040 | ||||||
| 1 yr. EUR Swap + 1.950% 2.875% VRN 4/02/32 EUR (b) (c) | 185,000 | 190,688 | ||||||
| 3.750% 3/26/25 | 890,000 | 871,886 | ||||||
| 1 yr. CMT + 2.200% 5.959% VRN 1/12/34 (b) | 445,000 | 460,187 | ||||||
| 1 yr. CMT + 2.000% 6.301% VRN 9/22/34 (b) | 325,000 | 344,053 | ||||||
| 5 yr. CMT + 4.745% 9.250% VRN (b) (e) | 200,000 | 215,755 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| UniCredit SpA 5 yr. EURIBOR ICE Swap + 4.739% | ||||||||
| 4.875% VRN 2/20/29 EUR (b) (c) | $ | 200,000 | $ | 220,530 | ||||
| Wells Fargo & Co. | ||||||||
| Secured Overnight Financing Rate + 2.100% 2.393% VRN 6/02/28 | 1,105,000 | 1,012,097 | ||||||
| 3 mo. USD Term SOFR + 1.262% 2.572% VRN 2/11/31 | 1,225,000 | 1,058,547 | ||||||
| 3 mo. USD Term SOFR + 1.432% 2.879% VRN 10/30/30 | 2,145,000 | 1,906,824 | ||||||
| 3 mo. USD Term SOFR + 1.432% 3.196% VRN 6/17/27 | 140,000 | 133,834 | ||||||
| 4.300% 7/22/27 | 290,000 | 283,838 | ||||||
| 46,628,319 | ||||||||
| Beverages — 0.1% | ||||||||
| Anheuser-Busch InBev SA | ||||||||
| 1.650% 3/28/31 EUR (b) (c) | 165,000 | 167,064 | ||||||
| Anheuser-Busch InBev Worldwide, Inc. | ||||||||
| 5.550% 1/23/49 | 400,000 | 429,844 | ||||||
| Carlsberg Breweries AS | ||||||||
| 0.875% 7/01/29 EUR (b) (c) | 140,000 | 137,290 | ||||||
| 734,198 | ||||||||
| Building Materials — 0.1% | ||||||||
| Carrier Global Corp. | ||||||||
| 2.493% 2/15/27 | 100,000 | 94,025 | ||||||
| 5.800% 11/30/25 (b) | 130,000 | 131,729 | ||||||
| Emerald Debt Merger Sub LLC | ||||||||
| 6.625% 12/15/30 (b) | 125,000 | 127,671 | ||||||
| Summit Materials LLC/Summit Materials Finance Corp. | ||||||||
| 7.250% 1/15/31 (b) | 40,000 | 42,148 | ||||||
| 395,573 | ||||||||
| Chemicals — 0.2% | ||||||||
| Axalta Coating Systems Dutch Holding B BV | ||||||||
| 7.250% 2/15/31 (b) | 225,000 | 235,965 | ||||||
| Braskem Netherlands Finance BV | ||||||||
| 4.500% 1/31/30 (b) | 300,000 | 232,849 | ||||||
| Celanese US Holdings LLC | ||||||||
| 6.050% 3/15/25 | 63,000 | 63,386 | ||||||
| 6.165% 7/15/27 | 95,000 | 97,409 | ||||||
| MEGlobal BV | ||||||||
| 2.625% 4/28/28 (b) | 200,000 | 179,730 | ||||||
| Methanex Corp. | ||||||||
| 5.125% 10/15/27 | 65,000 | 63,498 | ||||||
| Westlake Corp. | ||||||||
| 1.625% 7/17/29 EUR (c) | 475,000 | 469,404 | ||||||
| 1,342,241 | ||||||||
| Commercial Services — 0.3% | ||||||||
| Albion Financing 1 SARL/Aggreko Holdings, Inc. | ||||||||
| 5.250% 10/15/26 EUR (b) (c) | 100,000 | 110,119 | ||||||
| Autostrade per l'Italia SpA | ||||||||
| 2.000% 12/04/28 EUR (b) (c) | 165,000 | 167,185 | ||||||
| 2.000% 1/15/30 EUR (b) (c) | 155,000 | 151,585 | ||||||
| Equifax, Inc. | ||||||||
| 5.100% 12/15/27 | 42,000 | 42,382 | ||||||
| GTCR W-2 Merger Sub LLC | ||||||||
| 7.500% 1/15/31 (b) | 400,000 | 422,689 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| GTCR W-2 Merger Sub LLC/GTCR W Dutch Finance Sub BV | ||||||||
| 8.500% 1/15/31 GBP (b) (c) | $ | 100,000 | $ | 137,662 | ||||
| Holding d'Infrastructures de Transport SASU | ||||||||
| 1.475% 1/18/31 EUR (b) (c) | 200,000 | 189,106 | ||||||
| IPD 3 BV | ||||||||
| 8.000% 6/15/28 EUR (b) (c) | 100,000 | 117,669 | ||||||
| Loxam SAS | ||||||||
| 6.375% 5/15/28 EUR (b) (c) | 100,000 | 114,800 | ||||||
| Transurban Finance Co. Pty. Ltd. | ||||||||
| 3.000% 4/08/30 EUR (b) (c) | 300,000 | 323,979 | ||||||
| Verisure Holding AB | ||||||||
| 3.875% 7/15/26 EUR (b) (c) | 100,000 | 108,198 | ||||||
| 1,885,374 | ||||||||
| Computers — 0.0% | ||||||||
| Booz Allen Hamilton, Inc. | ||||||||
| 5.950% 8/04/33 | 190,000 | 200,715 | ||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Ritchie Bros Holdings, Inc. | ||||||||
| 6.750% 3/15/28 (b) | 20,000 | 20,591 | ||||||
| 7.750% 3/15/31 (b) | 15,000 | 15,992 | ||||||
| 36,583 | ||||||||
| Diversified Financial Services — 1.3% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 2.450% 10/29/26 | 525,000 | 486,109 | ||||||
| 3.300% 1/30/32 | 720,000 | 626,637 | ||||||
| 4.450% 4/03/26 | 270,000 | 265,117 | ||||||
| 4.875% 1/16/24 | 540,000 | 539,655 | ||||||
| Ally Financial, Inc. | ||||||||
| 4.750% 6/09/27 (d) | 179,000 | 172,728 | ||||||
| CA Auto Bank SPA | ||||||||
| 0.500% 9/13/24 EUR (b) (c) | 160,000 | 172,346 | ||||||
| Capital One Financial Corp. | ||||||||
| 1.650% 6/12/29 EUR (c) | 300,000 | 291,252 | ||||||
| Secured Overnight Financing Rate + 1.790% 3.273% VRN 3/01/30 | 265,000 | 236,672 | ||||||
| 3.650% 5/11/27 | 610,000 | 581,619 | ||||||
| 3.750% 3/09/27 | 210,000 | 200,510 | ||||||
| Secured Overnight Financing Rate + 2.160% 4.985% VRN 7/24/26 | 525,000 | 518,935 | ||||||
| Secured Overnight Financing Rate + 2.600% 5.247% VRN 7/26/30 | 140,000 | 137,554 | ||||||
| Encore Capital Group, Inc. | ||||||||
| 5.375% 2/15/26 GBP (b) (c) | 140,000 | 169,521 | ||||||
| Intercontinental Exchange, Inc. | ||||||||
| 2.650% 9/15/40 | 130,000 | 96,751 | ||||||
| 4.350% 6/15/29 | 465,000 | 463,494 | ||||||
| Iqera Group SAS | ||||||||
| 4.250% 9/30/24 EUR (b) (c) | 100,000 | 107,536 | ||||||
| Jerrold Finco PLC | ||||||||
| 5.250% 1/15/27 GBP (b) (c) | 100,000 | 118,383 | ||||||
| Kane Bidco Ltd. | ||||||||
| 5.000% 2/15/27 EUR (b) (c) | 225,000 | 237,273 | ||||||
| LeasePlan Corp. NV 5 yr. EURIBOR ICE Swap + 7.556% | ||||||||
| 7.375% VRN EUR (b) (c) (e) | 200,000 | 221,439 | ||||||
| LSEGA Financing PLC | ||||||||
| 2.000% 4/06/28 (b) | 1,520,000 | 1,360,122 | ||||||
| 2.500% 4/06/31 (b) | 435,000 | 372,400 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.200% 4/06/41 (b) | $ | 200,000 | $ | 154,775 | ||||
| Navient Corp. | ||||||||
| 9.375% 7/25/30 | 160,000 | 167,628 | ||||||
| 11.500% 3/15/31 | 85,000 | 93,110 | ||||||
| OneMain Finance Corp. | ||||||||
| 9.000% 1/15/29 | 300,000 | 317,169 | ||||||
| 8,108,735 | ||||||||
| Electric — 1.9% | ||||||||
| AES Corp. | ||||||||
| 5.450% 6/01/28 | 95,000 | 96,568 | ||||||
| American Electric Power Co., Inc. | ||||||||
| 5.200% 1/15/29 | 325,000 | 329,377 | ||||||
| Baltimore Gas & Electric Co. | ||||||||
| 5.400% 6/01/53 | 200,000 | 206,368 | ||||||
| DTE Energy Co. | ||||||||
| 4.875% 6/01/28 | 90,000 | 90,780 | ||||||
| Duke Energy Corp. | ||||||||
| 5.000% 8/15/52 | 525,000 | 490,074 | ||||||
| 6.100% 9/15/53 | 615,000 | 666,067 | ||||||
| E.ON International Finance BV | ||||||||
| 6.250% 6/03/30 GBP (b) (c) | 305,000 | 421,160 | ||||||
| Edison International | ||||||||
| 4.950% 4/15/25 | 30,000 | 29,789 | ||||||
| EDP - Energias de Portugal SA | ||||||||
| 2.875% 6/01/26 EUR (b) (c) | 200,000 | 218,896 | ||||||
| EDP Finance BV | ||||||||
| 6.300% 10/11/27 (b) | 200,000 | 209,583 | ||||||
| Electricite de France SA | ||||||||
| 6.125% 6/02/34 GBP (b) (c) | 200,000 | 271,330 | ||||||
| Enel Finance America LLC | ||||||||
| 7.100% 10/14/27 (b) | 200,000 | 213,422 | ||||||
| Enel Finance International NV | ||||||||
| 5.625% 8/14/24 GBP (b) (c) | 150,000 | 190,855 | ||||||
| 6.800% 10/14/25 (b) | 200,000 | 205,028 | ||||||
| Exelon Corp. | ||||||||
| 5.150% 3/15/28 | 90,000 | 91,479 | ||||||
| 5.600% 3/15/53 | 325,000 | 330,211 | ||||||
| Georgia Power Co. | ||||||||
| 4.950% 5/17/33 | 450,000 | 453,630 | ||||||
| Indiana Michigan Power Co. | ||||||||
| 5.625% 4/01/53 | 35,000 | 36,718 | ||||||
| Interchile SA | ||||||||
| 4.500% 6/30/56 (b) | 280,000 | 230,580 | ||||||
| MidAmerican Energy Co. | ||||||||
| 5.850% 9/15/54 | 175,000 | 193,603 | ||||||
| NextEra Energy Capital Holdings, Inc. | ||||||||
| 2.440% 1/15/32 | 435,000 | 364,508 | ||||||
| 5.250% 2/28/53 | 175,000 | 171,881 | ||||||
| 5.749% 9/01/25 | 295,000 | 297,791 | ||||||
| NRG Energy, Inc. | ||||||||
| 4.450% 6/15/29 (b) | 170,000 | 160,403 | ||||||
| Orsted AS | ||||||||
| 4.875% 1/12/32 GBP (b) (c) | 150,000 | 189,666 | ||||||
| Pacific Gas & Electric Co. | ||||||||
| 2.100% 8/01/27 | 383,000 | 345,172 | ||||||
| 2.500% 2/01/31 | 465,000 | 383,574 | ||||||
| 4.550% 7/01/30 | 510,000 | 485,713 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.700% 4/01/53 | $ | 145,000 | $ | 157,325 | ||||
| 6.950% 3/15/34 | 265,000 | 291,079 | ||||||
| Palomino Funding Trust I | ||||||||
| 7.233% 5/17/28 (b) | 290,000 | 305,415 | ||||||
| Public Service Enterprise Group, Inc. | ||||||||
| 5.875% 10/15/28 | 95,000 | 99,543 | ||||||
| RTE Reseau de Transport d'Electricite SADIR | ||||||||
| 0.750% 1/12/34 EUR (b) (c) | 200,000 | 176,980 | ||||||
| Sempra | ||||||||
| 3.400% 2/01/28 | 95,000 | 90,536 | ||||||
| 3.700% 4/01/29 | 145,000 | 138,143 | ||||||
| Southern California Edison Co. | ||||||||
| 4.700% 6/01/27 | 340,000 | 341,996 | ||||||
| 5.700% 3/01/53 | 220,000 | 231,558 | ||||||
| Southern Co. | ||||||||
| 5.200% 6/15/33 | 665,000 | 678,339 | ||||||
| 5.700% 3/15/34 | 320,000 | 336,487 | ||||||
| State Grid Overseas Investment BVI Ltd. | ||||||||
| 1.375% 5/02/25 EUR (b) (c) | 100,000 | 106,750 | ||||||
| Talen Energy Supply LLC | ||||||||
| 8.625% 6/01/30 (b) | 125,000 | 132,817 | ||||||
| TenneT Holding BV | ||||||||
| 2.000% 6/05/34 EUR (b) (c) | 330,000 | 330,154 | ||||||
| Vistra Corp. 5 yr. CMT + 6.930% | ||||||||
| 8.000% VRN (b) (e) | 355,000 | 353,452 | ||||||
| Vistra Operations Co. LLC | ||||||||
| 5.125% 5/13/25 (b) | 485,000 | 480,283 | ||||||
| 6.950% 10/15/33 (b) | 190,000 | 199,963 | ||||||
| 7.750% 10/15/31 (b) | 215,000 | 223,297 | ||||||
| 12,048,343 | ||||||||
| Electronics — 0.1% | ||||||||
| Sensata Technologies BV | ||||||||
| 5.875% 9/01/30 (b) | 345,000 | 342,763 | ||||||
| Engineering & Construction — 0.2% | ||||||||
| ABB Finance BV | ||||||||
| 3.375% 1/16/31 EUR (b) (c) | 115,000 | 130,077 | ||||||
| Avinor AS | ||||||||
| 0.750% 10/01/30 EUR (b) (c) | 140,000 | 132,097 | ||||||
| Cellnex Telecom SA | ||||||||
| 1.750% 10/23/30 EUR (b) (c) | 300,000 | 289,942 | ||||||
| Heathrow Funding Ltd. | ||||||||
| 2.750% 10/13/31 GBP (b) (c) | 225,000 | 259,561 | ||||||
| Sydney Airport Finance Co. Pty. Ltd. | ||||||||
| 4.375% 5/03/33 EUR (b) (c) | 220,000 | 255,668 | ||||||
| 1,067,345 | ||||||||
| Entertainment — 0.3% | ||||||||
| Banijay Entertainment SASU | ||||||||
| 7.000% 5/01/29 EUR (b) (c) | 100,000 | 116,191 | ||||||
| Caesars Entertainment, Inc. | ||||||||
| 7.000% 2/15/30 (b) | 155,000 | 158,943 | ||||||
| Churchill Downs, Inc. | ||||||||
| 6.750% 5/01/31 (b) | 130,000 | 131,941 | ||||||
| Cirsa Finance International SARL | ||||||||
| 7.875% 7/31/28 EUR (b) (c) | 120,000 | 138,104 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Inter Media & Communication SpA | ||||||||
| 6.750% 2/09/27 EUR (b) (c) | $ | 145,000 | $ | 153,776 | ||||
| International Game Technology PLC | ||||||||
| 3.500% 6/15/26 EUR (b) (c) | 100,000 | 109,511 | ||||||
| 3.500% 6/15/26 EUR (b) (c) | 100,000 | 109,511 | ||||||
| Lottomatica SpA 3 mo. EURIBOR + 4.125% | ||||||||
| 8.100% FRN 6/01/28 EUR (b) (c) | 100,000 | 111,372 | ||||||
| Motion Finco SARL | ||||||||
| 7.375% 6/15/30 EUR (b) (c) | 170,000 | 191,441 | ||||||
| Warnermedia Holdings, Inc. | ||||||||
| 3.755% 3/15/27 | 705,000 | 675,517 | ||||||
| 1,896,307 | ||||||||
| Food — 0.3% | ||||||||
| Bellis Acquisition Co. PLC | ||||||||
| 3.250% 2/16/26 GBP (b) (c) | 100,000 | 118,022 | ||||||
| Bimbo Bakeries USA, Inc. | ||||||||
| 6.050% 1/15/29 (b) | 225,000 | 236,653 | ||||||
| 6.400% 1/15/34 (b) | 200,000 | 221,946 | ||||||
| Chobani LLC/Chobani Finance Corp., Inc. | ||||||||
| 4.625% 11/15/28 (b) | 105,000 | 98,155 | ||||||
| Mars, Inc. | ||||||||
| 4.750% 4/20/33 (b) | 440,000 | 443,908 | ||||||
| Mondelez International Holdings Netherlands BV | ||||||||
| 0.250% 9/09/29 EUR (b) (c) | 198,000 | 188,247 | ||||||
| Mondelez International, Inc. | ||||||||
| 0.250% 3/17/28 EUR (c) | 237,000 | 233,821 | ||||||
| Tesco Corporate Treasury Services PLC | ||||||||
| 0.875% 5/29/26 EUR (b) (c) | 150,000 | 156,757 | ||||||
| 1.875% 11/02/28 GBP (b) (c) | 150,000 | 168,398 | ||||||
| 1,865,907 | ||||||||
| Gas — 0.1% | ||||||||
| APA Infrastructure Ltd. | ||||||||
| 3.500% 3/22/30 GBP (b) (c) | 150,000 | 174,070 | ||||||
| Boston Gas Co. | ||||||||
| 6.119% 7/20/53 (b) | 155,000 | 161,598 | ||||||
| NiSource, Inc. | ||||||||
| 3.490% 5/15/27 | 100,000 | 96,275 | ||||||
| 5.250% 3/30/28 | 85,000 | 86,668 | ||||||
| Snam SpA | ||||||||
| 0.875% 10/25/26 EUR (b) (c) | 185,000 | 192,365 | ||||||
| 710,976 | ||||||||
| Health Care – Products — 0.2% | ||||||||
| Avantor Funding, Inc. | ||||||||
| 4.625% 7/15/28 (b) | 105,000 | 101,481 | ||||||
| Becton Dickinson Euro Finance SARL | ||||||||
| 1.213% 2/12/36 EUR (c) | 100,000 | 85,429 | ||||||
| Medtronic Global Holdings SCA | ||||||||
| 0.375% 10/15/28 EUR (c) | 100,000 | 98,099 | ||||||
| Revvity, Inc. | ||||||||
| 1.900% 9/15/28 | 410,000 | 354,834 | ||||||
| 2.250% 9/15/31 | 220,000 | 180,388 | ||||||
| 3.300% 9/15/29 | 125,000 | 113,501 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Sartorius Finance BV | ||||||||
| 4.500% 9/14/32 EUR (b) (c) | $ | 200,000 | $ | 229,974 | ||||
| Thermo Fisher Scientific, Inc. | ||||||||
| 0.875% 10/01/31 EUR (c) | 140,000 | 131,868 | ||||||
| 2.375% 4/15/32 EUR (c) | 100,000 | 104,738 | ||||||
| 1,400,312 | ||||||||
| Health Care – Services — 1.2% | ||||||||
| Centene Corp. | ||||||||
| 2.450% 7/15/28 | 230,000 | 204,838 | ||||||
| 2.625% 8/01/31 | 315,000 | 261,363 | ||||||
| 3.375% 2/15/30 | 515,000 | 462,074 | ||||||
| 4.250% 12/15/27 | 95,000 | 91,538 | ||||||
| 4.625% 12/15/29 | 875,000 | 838,886 | ||||||
| Charles River Laboratories International, Inc. | ||||||||
| 4.000% 3/15/31 (b) | 110,000 | 99,372 | ||||||
| Elevance Health, Inc. | ||||||||
| 5.125% 2/15/53 | 220,000 | 220,283 | ||||||
| Fresenius SE & Co. KGaA | ||||||||
| 5.000% 11/28/29 EUR (b) (c) | 100,000 | 117,795 | ||||||
| HCA, Inc. | ||||||||
| 3.125% 3/15/27 | 235,000 | 222,765 | ||||||
| 3.375% 3/15/29 | 90,000 | 83,040 | ||||||
| 3.500% 9/01/30 | 499,000 | 452,357 | ||||||
| 4.500% 2/15/27 | 90,000 | 88,939 | ||||||
| 5.375% 9/01/26 | 170,000 | 170,780 | ||||||
| 5.875% 2/15/26 | 160,000 | 161,361 | ||||||
| Humana, Inc. | ||||||||
| 4.875% 4/01/30 | 550,000 | 557,295 | ||||||
| 5.950% 3/15/34 | 260,000 | 278,278 | ||||||
| IQVIA, Inc. | ||||||||
| 6.250% 2/01/29 (b) | 290,000 | 302,745 | ||||||
| 6.500% 5/15/30 (b) | 200,000 | 205,022 | ||||||
| Molina Healthcare, Inc. | ||||||||
| 4.375% 6/15/28 (b) | 75,000 | 70,933 | ||||||
| Sutter Health | ||||||||
| 5.164% 8/15/33 | 140,000 | 141,852 | ||||||
| UnitedHealth Group, Inc. | ||||||||
| 4.500% 4/15/33 | 420,000 | 417,332 | ||||||
| 5.050% 4/15/53 | 1,040,000 | 1,050,582 | ||||||
| 5.875% 2/15/53 | 735,000 | 832,449 | ||||||
| 7,331,879 | ||||||||
| Healthcare-Products — 0.0% | ||||||||
| Thermo Fisher Scientific, Inc. | ||||||||
| 5.200% 1/31/34 | 210,000 | 219,851 | ||||||
| Insurance — 1.0% | ||||||||
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||||||||
| 6.750% 4/15/28 (b) | 295,000 | 301,794 | ||||||
| 7.000% 1/15/31 (b) | 25,000 | 26,372 | ||||||
| Allianz SE 10 yr. EURIBOR ICE Swap + 3.200% | ||||||||
| 3.375% VRN EUR (b) (c) (e) | 400,000 | 436,505 | ||||||
| AmWINS Group, Inc. | ||||||||
| 4.875% 6/30/29 (b) | 140,000 | 127,853 | ||||||
| Aon Corp. | ||||||||
| 2.800% 5/15/30 | 145,000 | 128,564 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Athene Global Funding | ||||||||
| 0.832% 1/08/27 EUR (b) (c) | $ | 165,000 | $ | 167,878 | ||||
| Berkshire Hathaway Finance Corp. | ||||||||
| 1.500% 3/18/30 EUR (c) | 167,000 | 167,207 | ||||||
| CNO Financial Group, Inc. | ||||||||
| 5.250% 5/30/25 | 217,000 | 215,485 | ||||||
| Corebridge Financial, Inc. | ||||||||
| 3.650% 4/05/27 | 95,000 | 91,362 | ||||||
| 3.900% 4/05/32 | 145,000 | 131,075 | ||||||
| Credit Agricole Assurances SA 5 yr. EURIBOR ICE Swap + 2.650% | ||||||||
| 2.625% VRN 1/29/48 EUR (b) (c) | 200,000 | 204,780 | ||||||
| Equitable Financial Life Global Funding | ||||||||
| 1.000% 1/09/26 (b) | 450,000 | 411,645 | ||||||
| Equitable Holdings, Inc. | ||||||||
| 4.350% 4/20/28 | 1,150,000 | 1,110,337 | ||||||
| Hannover Rueck SE | ||||||||
| 3 mo. EURIBOR + 2.380% 1.125% VRN 10/09/39 EUR (b) (c) | 200,000 | 187,586 | ||||||
| 3 mo. EURIBOR + 3.000% 1.750% VRN 10/08/40 EUR (b) (c) | 300,000 | 285,137 | ||||||
| HUB International Ltd. | ||||||||
| 7.250% 6/15/30 (b) (d) | 285,000 | 301,026 | ||||||
| Jackson Financial, Inc. | ||||||||
| 5.170% 6/08/27 (d) | 400,000 | 399,235 | ||||||
| Jones Deslauriers Insurance Management, Inc. | ||||||||
| 8.500% 3/15/30 (b) | 217,000 | 227,878 | ||||||
| Legal & General Group PLC 5 yr. U.K. Government Bond + 4.580% | ||||||||
| 5.375% VRN 10/27/45 GBP (b) (c) | 185,000 | 234,229 | ||||||
| Marsh & McLennan Cos., Inc. | ||||||||
| 2.250% 11/15/30 | 185,000 | 159,240 | ||||||
| 5.700% 9/15/53 | 530,000 | 575,952 | ||||||
| Metropolitan Life Global Funding I | ||||||||
| 5.000% 1/10/30 GBP (b) (c) | 100,000 | 131,148 | ||||||
| 5.150% 3/28/33 (b) | 240,000 | 244,166 | ||||||
| 6,266,454 | ||||||||
| Internet — 0.3% | ||||||||
| Gen Digital, Inc. | ||||||||
| 7.125% 9/30/30 (b) (d) | 32,000 | 33,434 | ||||||
| Match Group Holdings II LLC | ||||||||
| 5.000% 12/15/27 (b) | 128,000 | 124,987 | ||||||
| MercadoLibre, Inc. | ||||||||
| 3.125% 1/14/31 | 200,000 | 171,293 | ||||||
| Meta Platforms, Inc. | ||||||||
| 5.600% 5/15/53 | 665,000 | 720,750 | ||||||
| Netflix, Inc. | ||||||||
| 3.875% 11/15/29 EUR (b) (c) | 125,000 | 142,564 | ||||||
| 4.625% 5/15/29 EUR (c) | 100,000 | 117,789 | ||||||
| Tencent Holdings Ltd. | ||||||||
| 3.240% 6/03/50 (b) | 350,000 | 233,222 | ||||||
| United Group BV | ||||||||
| 4.625% 8/15/28 EUR (b) (c) | 100,000 | 104,323 | ||||||
| 1,648,362 | ||||||||
| Iron & Steel — 0.0% | ||||||||
| ABJA Investment Co. Pte. Ltd. | ||||||||
| 5.950% 7/31/24 (b) | 200,000 | 199,400 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Leisure Time — 0.2% | ||||||||
| Carnival Corp. | ||||||||
| 7.000% 8/15/29 (b) (d) | $ | 140,000 | $ | 146,177 | ||||
| 10.500% 6/01/30 (b) (d) | 245,000 | 267,981 | ||||||
| Deuce Finco PLC | ||||||||
| 5.500% 6/15/27 GBP (b) (c) | 100,000 | 118,581 | ||||||
| Harley-Davidson Financial Services, Inc. | ||||||||
| 5.125% 4/05/26 EUR (b) (c) | 210,000 | 239,139 | ||||||
| Life Time, Inc. | ||||||||
| 5.750% 1/15/26 (b) (d) | 125,000 | 124,101 | ||||||
| Royal Caribbean Cruises Ltd. | ||||||||
| 11.625% 8/15/27 (b) | 40,000 | 43,527 | ||||||
| 8.250% 1/15/29 (b) | 200,000 | 212,539 | ||||||
| 1,152,045 | ||||||||
| Lodging — 0.1% | ||||||||
| Las Vegas Sands Corp. | ||||||||
| 3.500% 8/18/26 | 210,000 | 200,180 | ||||||
| Marriott International, Inc. | ||||||||
| 5.000% 10/15/27 | 322,000 | 325,800 | ||||||
| 525,980 | ||||||||
| Machinery – Diversified — 0.0% | ||||||||
| Highland Holdings SARL | ||||||||
| 0.318% 12/15/26 EUR (c) | 122,000 | 124,132 | ||||||
| TK Elevator Midco GmbH | ||||||||
| 4.375% 7/15/27 EUR (b) (c) | 100,000 | 106,730 | ||||||
| 230,862 | ||||||||
| Media — 0.5% | ||||||||
| Altice Financing SA | ||||||||
| 4.250% 8/15/29 EUR (b) (c) | 100,000 | 97,755 | ||||||
| 5.000% 1/15/28 (b) | 260,000 | 235,680 | ||||||
| CCO Holdings LLC/CCO Holdings Capital Corp. | ||||||||
| 4.250% 2/01/31 (b) | 130,000 | 113,611 | ||||||
| 6.375% 9/01/29 (b) (d) | 75,000 | 73,962 | ||||||
| 7.375% 3/01/31 (b) | 70,000 | 71,845 | ||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||||||||
| 3.750% 2/15/28 | 150,000 | 141,607 | ||||||
| 5.750% 4/01/48 | 230,000 | 204,120 | ||||||
| 6.484% 10/23/45 | 105,000 | 103,174 | ||||||
| 6.650% 2/01/34 | 555,000 | 585,238 | ||||||
| Comcast Corp. | ||||||||
| 3.250% 11/01/39 | 295,000 | 238,950 | ||||||
| DISH DBS Corp. | ||||||||
| 5.750% 12/01/28 (b) | 65,000 | 51,844 | ||||||
| DISH Network Corp. | ||||||||
| 11.750% 11/15/27 (b) | 130,000 | 135,701 | ||||||
| RCS & RDS SA | ||||||||
| 3.250% 2/05/28 EUR (b) (c) | 200,000 | 196,508 | ||||||
| Sirius XM Radio, Inc. | ||||||||
| 4.000% 7/15/28 (b) | 180,000 | 166,472 | ||||||
| 5.000% 8/01/27 (b) | 116,000 | 112,055 | ||||||
| Univision Communications, Inc. | ||||||||
| 7.375% 6/30/30 (b) (d) | 65,000 | 64,814 | ||||||
| 8.000% 8/15/28 (b) | 55,000 | 56,739 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| VZ Secured Financing BV | ||||||||
| 3.500% 1/15/32 EUR (b) (c) | $ | 100,000 | $ | 97,216 | ||||
| Walt Disney Co. | ||||||||
| 3.600% 1/13/51 | 255,000 | 204,965 | ||||||
| Ziggo BV | ||||||||
| 2.875% 1/15/30 EUR (b) (c) | 100,000 | 98,074 | ||||||
| 3,050,330 | ||||||||
| Mining — 0.1% | ||||||||
| Anglo American Capital PLC | ||||||||
| 3.375% 3/11/29 GBP (b) (c) | 140,000 | 164,449 | ||||||
| Freeport-McMoRan, Inc. | ||||||||
| 4.375% 8/01/28 | 94,000 | 90,243 | ||||||
| 5.000% 9/01/27 | 4,000 | 3,950 | ||||||
| 5.450% 3/15/43 | 270,000 | 262,667 | ||||||
| Hudbay Minerals, Inc. | ||||||||
| 6.125% 4/01/29 (b) | 60,000 | 58,828 | ||||||
| 580,137 | ||||||||
| Oil & Gas — 0.6% | ||||||||
| BP Capital Markets PLC | ||||||||
| 2.213% 9/25/26 EUR (b) (c) | 160,000 | 172,726 | ||||||
| Chesapeake Energy Corp. | ||||||||
| 6.750% 4/15/29 (b) | 120,000 | 121,116 | ||||||
| Diamondback Energy, Inc. | ||||||||
| 6.250% 3/15/53 | 220,000 | 234,522 | ||||||
| Hilcorp Energy I LP/Hilcorp Finance Co. | ||||||||
| 8.375% 11/01/33 (b) | 239,000 | 253,206 | ||||||
| Marathon Oil Corp. | ||||||||
| 4.400% 7/15/27 (d) | 95,000 | 92,653 | ||||||
| Occidental Petroleum Corp. | ||||||||
| 6.200% 3/15/40 | 315,000 | 325,238 | ||||||
| 6.375% 9/01/28 (d) | 130,000 | 136,607 | ||||||
| 6.450% 9/15/36 | 80,000 | 84,640 | ||||||
| 6.625% 9/01/30 | 510,000 | 542,390 | ||||||
| 8.500% 7/15/27 | 115,000 | 125,439 | ||||||
| 8.875% 7/15/30 | 680,000 | 795,739 | ||||||
| Ovintiv, Inc. | ||||||||
| 5.650% 5/15/28 | 95,000 | 96,932 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.750% 2/26/29 EUR (b) (c) | 365,000 | 331,182 | ||||||
| 4.875% 2/21/28 EUR (b) (c) | 460,000 | 441,679 | ||||||
| Pioneer Natural Resources Co. | ||||||||
| 5.100% 3/29/26 | 145,000 | 146,057 | ||||||
| Saudi Arabian Oil Co. | ||||||||
| 4.250% 4/16/39 (b) | 200,000 | 178,710 | ||||||
| 4,078,836 | ||||||||
| Packaging & Containers — 0.1% | ||||||||
| Ball Corp. | ||||||||
| 6.875% 3/15/28 | 140,000 | 145,446 | ||||||
| Graphic Packaging International LLC | ||||||||
| 2.625% 2/01/29 EUR (b) (c) | 100,000 | 101,669 | ||||||
| Sealed Air Corp./Sealed Air Corp. US | ||||||||
| 6.125% 2/01/28 (b) | 65,000 | 65,560 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.250% 2/15/31 (b) (d) | $ | 25,000 | $ | 26,507 | ||||
| 339,182 | ||||||||
| Pharmaceuticals — 1.3% | ||||||||
| AbbVie, Inc. | ||||||||
| 2.625% 11/15/28 EUR (c) | 225,000 | 244,141 | ||||||
| 4.050% 11/21/39 | 270,000 | 243,796 | ||||||
| 4.250% 11/21/49 | 325,000 | 289,625 | ||||||
| 4.700% 5/14/45 | 530,000 | 504,338 | ||||||
| 4.875% 11/14/48 | 980,000 | 955,354 | ||||||
| Bayer US Finance II LLC | ||||||||
| 4.250% 12/15/25 (b) | 225,000 | 219,254 | ||||||
| 6.125% 11/21/26 (b) | 200,000 | 203,336 | ||||||
| Becton Dickinson & Co. | ||||||||
| 2.823% 5/20/30 | 510,000 | 455,821 | ||||||
| 3.020% 5/24/25 GBP (c) | 150,000 | 185,843 | ||||||
| CVS Health Corp. | ||||||||
| 3.250% 8/15/29 | 135,000 | 125,799 | ||||||
| 4.300% 3/25/28 | 100,000 | 98,305 | ||||||
| 5.050% 3/25/48 | 823,000 | 769,758 | ||||||
| 5.625% 2/21/53 | 430,000 | 435,851 | ||||||
| 5.875% 6/01/53 | 230,000 | 241,917 | ||||||
| Gruenenthal GmbH | ||||||||
| 6.750% 5/15/30 EUR (b) (c) | 100,000 | 116,881 | ||||||
| Mylan, Inc. | ||||||||
| 4.550% 4/15/28 (d) | 95,000 | 92,177 | ||||||
| Pfizer Investment Enterprises Pte. Ltd. | ||||||||
| 4.750% 5/19/33 | 280,000 | 280,628 | ||||||
| 5.300% 5/19/53 | 275,000 | 280,743 | ||||||
| 5.340% 5/19/63 | 440,000 | 444,224 | ||||||
| Teva Pharmaceutical Finance Netherlands III BV | ||||||||
| 7.875% 9/15/29 | 200,000 | 215,552 | ||||||
| 8.125% 9/15/31 | 200,000 | 218,116 | ||||||
| Upjohn Finance BV | ||||||||
| 1.908% 6/23/32 EUR (b) (c) | 145,000 | 134,535 | ||||||
| Utah Acquisition Sub, Inc. | ||||||||
| 3.125% 11/22/28 EUR (b) (c) | 155,000 | 166,458 | ||||||
| 3.950% 6/15/26 | 1,125,000 | 1,087,193 | ||||||
| 5.250% 6/15/46 | 45,000 | 37,472 | ||||||
| Viatris, Inc. | ||||||||
| 3.850% 6/22/40 | 401,000 | 298,257 | ||||||
| 4.000% 6/22/50 | 215,000 | 151,235 | ||||||
| 8,496,609 | ||||||||
| Pipelines — 1.2% | ||||||||
| Boardwalk Pipelines LP | ||||||||
| 3.400% 2/15/31 | 890,000 | 795,307 | ||||||
| Cheniere Corpus Christi Holdings LLC | ||||||||
| 5.125% 6/30/27 | 235,000 | 236,141 | ||||||
| Cheniere Energy, Inc. | ||||||||
| 4.625% 10/15/28 | 95,000 | 92,732 | ||||||
| Columbia Pipelines Holding Co. LLC | ||||||||
| 6.042% 8/15/28 (b) | 295,000 | 304,471 | ||||||
| Enbridge, Inc. | ||||||||
| 4.250% 12/01/26 | 90,000 | 88,788 | ||||||
| 6.200% 11/15/30 | 145,000 | 155,153 | ||||||
| 6.700% 11/15/53 (d) | 230,000 | 267,497 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Energy Transfer LP | ||||||||
| 2.900% 5/15/25 | $ | 185,000 | $ | 179,255 | ||||
| 6.400% 12/01/30 | 225,000 | 240,570 | ||||||
| 6.550% 12/01/33 | 150,000 | 162,795 | ||||||
| Kinetik Holdings LP | ||||||||
| 5.875% 6/15/30 (b) | 90,000 | 88,295 | ||||||
| 6.625% 12/15/28 (b) | 276,000 | 281,192 | ||||||
| MPLX LP | ||||||||
| 4.125% 3/01/27 | 95,000 | 92,994 | ||||||
| NuStar Logistics LP | ||||||||
| 5.750% 10/01/25 | 80,000 | 79,495 | ||||||
| ONEOK, Inc. | ||||||||
| 5.650% 11/01/28 | 90,000 | 93,168 | ||||||
| 5.800% 11/01/30 | 170,000 | 176,740 | ||||||
| 6.050% 9/01/33 | 250,000 | 264,879 | ||||||
| Sabine Pass Liquefaction LLC | ||||||||
| 4.200% 3/15/28 | 100,000 | 97,890 | ||||||
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||
| 4.000% 1/15/32 | 125,000 | 114,141 | ||||||
| 4.875% 2/01/31 | 25,000 | 24,285 | ||||||
| 5.000% 1/15/28 | 90,000 | 88,884 | ||||||
| 5.500% 3/01/30 | 150,000 | 149,973 | ||||||
| 6.875% 1/15/29 | 213,000 | 219,967 | ||||||
| Transcanada Trust 3 mo. CAD CDOR + 3.080% | ||||||||
| 4.650% VRN 5/18/77 CAD (c) | 650,000 | 447,875 | ||||||
| Venture Global Calcasieu Pass LLC | ||||||||
| 3.875% 8/15/29 (b) | 55,000 | 49,901 | ||||||
| 3.875% 11/01/33 (b) | 80,000 | 67,796 | ||||||
| 4.125% 8/15/31 (b) | 65,000 | 57,265 | ||||||
| 6.250% 1/15/30 (b) | 160,000 | 159,134 | ||||||
| Venture Global LNG, Inc. | ||||||||
| 8.375% 6/01/31 (b) | 415,000 | 414,785 | ||||||
| 9.500% 2/01/29 (b) | 435,000 | 460,303 | ||||||
| Western Midstream Operating LP | ||||||||
| 4.500% 3/01/28 | 95,000 | 91,878 | ||||||
| Williams Cos., Inc. | ||||||||
| 3.750% 6/15/27 | 1,265,000 | 1,219,257 | ||||||
| 7,262,806 | ||||||||
| Real Estate — 0.1% | ||||||||
| Blackstone Property Partners Europe Holdings SARL | ||||||||
| 1.750% 3/12/29 EUR (b) (c) | 280,000 | 259,746 | ||||||
| CBRE Services, Inc. | ||||||||
| 5.950% 8/15/34 | 420,000 | 441,236 | ||||||
| Howard Hughes Corp. | ||||||||
| 5.375% 8/01/28 (b) | 140,000 | 134,558 | ||||||
| Logicor Financing SARL | ||||||||
| 1.500% 7/13/26 EUR (b) (c) | 167,000 | 172,504 | ||||||
| 1,008,044 | ||||||||
| Real Estate Investment Trusts (REITS) — 1.4% | ||||||||
| American Tower Corp. | ||||||||
| 5.250% 7/15/28 | 95,000 | 96,490 | ||||||
| Brixmor Operating Partnership LP | ||||||||
| 4.050% 7/01/30 | 301,000 | 281,270 | ||||||
| 4.125% 6/15/26 | 2,000,000 | 1,936,755 | ||||||
| 4.125% 5/15/29 | 160,000 | 152,264 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Crown Castle, Inc. | ||||||||
| 2.250% 1/15/31 | $ | 715,000 | $ | 592,062 | ||||
| 2.500% 7/15/31 | 430,000 | 358,501 | ||||||
| 3.800% 2/15/28 | 95,000 | 90,242 | ||||||
| 5.600% 6/01/29 | 350,000 | 357,878 | ||||||
| 5.800% 3/01/34 | 230,000 | 238,050 | ||||||
| Essex Portfolio LP | ||||||||
| 4.000% 3/01/29 | 760,000 | 725,348 | ||||||
| GLP Capital LP/GLP Financing II, Inc. | ||||||||
| 3.350% 9/01/24 | 125,000 | 123,358 | ||||||
| HAT Holdings I LLC/HAT Holdings II LLC | ||||||||
| 8.000% 6/15/27 (b) | 177,000 | 184,318 | ||||||
| Healthcare Realty Holdings LP | ||||||||
| 2.050% 3/15/31 | 230,000 | 178,014 | ||||||
| 3.625% 1/15/28 | 850,000 | 783,391 | ||||||
| Inmobiliaria Colonial Socimi SA | ||||||||
| 1.625% 11/28/25 EUR (b) (c) | 200,000 | 213,389 | ||||||
| MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc. | ||||||||
| 5.750% 2/01/27 | 55,000 | 54,931 | ||||||
| Prologis LP | ||||||||
| 2.250% 6/30/29 GBP (c) | 150,000 | 170,834 | ||||||
| Public Storage Operating Co. | ||||||||
| 5.350% 8/01/53 | 95,000 | 99,184 | ||||||
| Regency Centers LP | ||||||||
| 3.600% 2/01/27 | 305,000 | 293,248 | ||||||
| 4.125% 3/15/28 | 815,000 | 781,534 | ||||||
| SBA Tower Trust | ||||||||
| 1.840% 4/15/27 (b) | 635,000 | 562,012 | ||||||
| 2.593% 10/15/56 (b) | 515,000 | 414,205 | ||||||
| 8,687,278 | ||||||||
| Retail — 0.4% | ||||||||
| Bath & Body Works, Inc. | ||||||||
| 6.625% 10/01/30 (b) (d) | 90,000 | 91,985 | ||||||
| Dollar General Corp. | ||||||||
| 3.875% 4/15/27 | 100,000 | 96,903 | ||||||
| 5.450% 7/05/33 (d) | 470,000 | 478,374 | ||||||
| Lowe's Cos., Inc. | ||||||||
| 4.250% 4/01/52 | 265,000 | 224,348 | ||||||
| 5.625% 4/15/53 | 195,000 | 204,443 | ||||||
| 5.750% 7/01/53 (d) | 150,000 | 158,916 | ||||||
| Next Group PLC | ||||||||
| 3.625% 5/18/28 GBP (b) (c) | 250,000 | 303,255 | ||||||
| O'Reilly Automotive, Inc. | ||||||||
| 5.750% 11/20/26 | 135,000 | 138,234 | ||||||
| Ross Stores, Inc. | ||||||||
| 1.875% 4/15/31 | 535,000 | 440,204 | ||||||
| Yum! Brands, Inc. | ||||||||
| 5.375% 4/01/32 (d) | 140,000 | 137,550 | ||||||
| 2,274,212 | ||||||||
| Savings & Loans — 0.1% | ||||||||
| Nationwide Building Society | ||||||||
| 3 mo. EURIBOR + 0.930% 1.500% VRN 3/08/26 EUR (b) (c) | 140,000 | 150,360 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5 yr. EUR Swap + 1.500% 2.000% VRN 7/25/29 EUR (b) (c) | $ | 150,000 | $ | 162,331 | ||||
| 312,691 | ||||||||
| Semiconductors — 0.1% | ||||||||
| Broadcom Corp./Broadcom Cayman Finance Ltd. | ||||||||
| 3.875% 1/15/27 | 95,000 | 92,711 | ||||||
| Broadcom, Inc. | ||||||||
| 2.600% 2/15/33 (b) | 330,000 | 271,870 | ||||||
| 3.419% 4/15/33 (b) | 112,000 | 98,370 | ||||||
| Micron Technology, Inc. | ||||||||
| 4.185% 2/15/27 | 140,000 | 137,316 | ||||||
| 6.750% 11/01/29 | 210,000 | 226,923 | ||||||
| 827,190 | ||||||||
| Software — 0.2% | ||||||||
| Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc. | ||||||||
| 8.000% 6/15/29 (b) | 115,000 | 120,032 | ||||||
| Central Parent, Inc./CDK Global, Inc. | ||||||||
| 7.250% 6/15/29 (b) | 74,000 | 75,470 | ||||||
| Fiserv, Inc. | ||||||||
| 1.625% 7/01/30 EUR (c) | 100,000 | 99,739 | ||||||
| 3.000% 7/01/31 GBP (c) | 250,000 | 285,563 | ||||||
| 4.200% 10/01/28 (d) | 95,000 | 92,843 | ||||||
| 4.500% 5/24/31 EUR (c) | 200,000 | 233,901 | ||||||
| Intuit, Inc. | ||||||||
| 5.500% 9/15/53 | 245,000 | 267,934 | ||||||
| Oracle Corp. | ||||||||
| 4.900% 2/06/33 | 450,000 | 447,953 | ||||||
| 1,623,435 | ||||||||
| Telecommunications — 1.4% | ||||||||
| Altice France SA | ||||||||
| 3.375% 1/15/28 EUR (b) (c) | 135,000 | 117,430 | ||||||
| America Movil SAB de CV | ||||||||
| 5.750% 6/28/30 GBP (c) | 190,000 | 259,334 | ||||||
| AT&T, Inc. | ||||||||
| 3.500% 9/15/53 | 670,000 | 486,224 | ||||||
| 3.950% 4/30/31 EUR (c) | 350,000 | 400,790 | ||||||
| Chorus Ltd. | ||||||||
| 3.625% 9/07/29 EUR (c) | 215,000 | 241,097 | ||||||
| Lorca Telecom Bondco SA | ||||||||
| 4.000% 9/18/27 EUR (b) (c) | 235,000 | 252,940 | ||||||
| NBN Co. Ltd. | ||||||||
| 4.125% 3/15/29 EUR (b) (c) | 355,000 | 408,182 | ||||||
| Orange SA | ||||||||
| 3.250% 1/15/32 GBP (b) (c) | 200,000 | 236,924 | ||||||
| PLT VII Finance SARL | ||||||||
| 4.625% 1/05/26 EUR (b) (c) | 100,000 | 109,567 | ||||||
| Rogers Communications, Inc. | ||||||||
| 3.200% 3/15/27 | 280,000 | 267,261 | ||||||
| 3.800% 3/15/32 | 295,000 | 271,466 | ||||||
| 4.350% 5/01/49 | 40,000 | 33,860 | ||||||
| 4.550% 3/15/52 | 1,805,000 | 1,574,114 | ||||||
| Sprint Capital Corp. | ||||||||
| 6.875% 11/15/28 | 670,000 | 725,966 | ||||||
| 8.750% 3/15/32 | 345,000 | 425,821 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| T-Mobile USA, Inc. | ||||||||
| 5.750% 1/15/54 | $ | 855,000 | $ | 904,666 | ||||
| 6.000% 6/15/54 | 355,000 | 389,314 | ||||||
| TDC Net AS | ||||||||
| 5.618% 2/06/30 EUR (b) (c) | 370,000 | 420,705 | ||||||
| Tele2 AB | ||||||||
| 0.750% 3/23/31 EUR (b) (c) | 230,000 | 212,602 | ||||||
| Verizon Communications, Inc. | ||||||||
| 2.625% 12/01/31 EUR (c) | 235,000 | 248,228 | ||||||
| Vmed O2 UK Financing I PLC | ||||||||
| 4.500% 7/15/31 GBP (b) (c) | 155,000 | 170,383 | ||||||
| 4.500% 7/15/31 GBP (b) (c) | 150,000 | 164,886 | ||||||
| Xiaomi Best Time International Ltd., Convertible, | ||||||||
| 0.000% 12/17/27 (b) | 200,000 | 177,904 | ||||||
| 8,499,664 | ||||||||
| Toys, Games & Hobbies — 0.1% | ||||||||
| Hasbro, Inc. | ||||||||
| 3.550% 11/19/26 | 82,000 | 77,754 | ||||||
| Mattel, Inc. | ||||||||
| 5.875% 12/15/27 (b) | 430,000 | 429,431 | ||||||
| 507,185 | ||||||||
| Transportation — 0.1% | ||||||||
| Brambles Finance PLC | ||||||||
| 4.250% 3/22/31 EUR (b) (c) | 180,000 | 209,497 | ||||||
| InPost SA | ||||||||
| 2.250% 7/15/27 EUR (b) (c) | 100,000 | 102,225 | ||||||
| 311,722 | ||||||||
| Water — 0.1% | ||||||||
| Severn Trent Utilities Finance PLC | ||||||||
| 4.625% 11/30/34 GBP (b) (c) | 160,000 | 199,108 | ||||||
| Veolia Environnement SA | ||||||||
| 1.940% 1/07/30 EUR (b) (c) | 200,000 | 206,450 | ||||||
| 405,558 | ||||||||
| TOTAL CORPORATE DEBT (Cost $157,236,076) | 153,813,701 | |||||||
| MUNICIPAL OBLIGATIONS — 0.1% | ||||||||
| Commonwealth of Puerto Rico, General Obligation | ||||||||
| 11/01/43(f) | 653,665 | 356,247 | ||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $362,486) | 356,247 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 6.2% | ||||||||
| Automobile Asset-Backed Securities — 1.4% | ||||||||
| AmeriCredit Automobile Receivables Trust | ||||||||
| Series 2020-3, Class D, 1.490% 9/18/26 | 275,000 | 259,154 | ||||||
| Series 2023-1, Class C, 5.800% 12/18/28 | 400,000 | 403,937 | ||||||
| CarMax Auto Owner Trust, Series 2022-1, Class D | ||||||||
| 2.470% 7/17/28 | 280,000 | 257,910 | ||||||
| Exeter Automobile Receivables Trust | ||||||||
| Series 2021-2A, Class D, 1.400% 4/15/27 | 235,000 | 221,665 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2022-1A, Class D, 3.020% 6/15/28 | $ | 995,000 | $ | 938,145 | ||||
| Series 2022-2A, Class C, 3.850% 7/17/28 | 820,000 | 802,147 | ||||||
| Series 2022-3A, Class C, 5.300% 9/15/27 | 520,000 | 514,746 | ||||||
| Series 2023-1A, Class D, 6.690% 6/15/29 | 85,000 | 85,804 | ||||||
| Ford Credit Auto Lease Trust, Series 2023-A, Class C | ||||||||
| 5.540% 12/15/26 | 850,000 | 845,396 | ||||||
| Ford Credit Auto Owner Trust | ||||||||
| Series 2023-1, Class A, 4.850% 8/15/35 (b) | 895,000 | 899,330 | ||||||
| Series 2022-C, Class C, 5.220% 3/15/30 | 200,000 | 196,423 | ||||||
| Santander Bank Auto Credit-Linked Notes | ||||||||
| Series 2021-1A, Class B, 1.833% 12/15/31 (b) | 53,866 | 52,453 | ||||||
| Series 2023-B, Class B, 5.640% 12/15/33 (b) | 250,000 | 250,240 | ||||||
| Santander Consumer Auto Receivables Trust, Series 2021-AA, Class D | ||||||||
| 1.570% 1/15/27 (b) | 735,000 | 687,236 | ||||||
| Santander Drive Auto Receivables Trust | ||||||||
| Series 2021-4, Class D, 1.670% 10/15/27 | 310,000 | 292,999 | ||||||
| Series 2022-6, Class B, 4.720% 6/15/27 | 850,000 | 838,047 | ||||||
| Santander Retail Auto Lease Trust, Series 2021-A, Class D | ||||||||
| 1.380% 3/22/27 (b) | 715,000 | 704,446 | ||||||
| US Bank NA, Series 2023-1, Class B | ||||||||
| 6.789% 8/25/32 (b) | 250,000 | 250,612 | ||||||
| 8,500,690 | ||||||||
| Commercial Mortgage-Backed Securities — 1.3% | ||||||||
| Austin Fairmont Hotel Trust, Series 2019-FAIR, Class B, 1 mo. USD Term SOFR + 1.297% | ||||||||
| 6.659% FRN 9/15/32 (b) | 235,000 | 232,356 | ||||||
| Aventura Mall Trust, Series 2018-AVM, Class A, | ||||||||
| 4.112% VRN 7/05/40 (b) (f) | 380,000 | 352,880 | ||||||
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, 1 mo. USD Term SOFR + 2.274% | ||||||||
| 7.637% FRN 11/15/34 (b) | 245,000 | 115,352 | ||||||
| BX Commercial Mortgage Trust, Series 2022-CSMO, Class B, 1 mo. USD Term SOFR + 3.141% | ||||||||
| 8.503% FRN 6/15/27 (b) | 465,000 | 465,290 | ||||||
| BX Trust, Series 2021-ARIA, Class B, 1 mo. USD Term SOFR + 1.411% | ||||||||
| 6.774% FRN 10/15/36 (b) | 475,000 | 459,558 | ||||||
| Cantor Commercial Real Estate Lending, Series 2019-CF2, Class B | ||||||||
| 3.267% 11/15/52 | 295,000 | 245,616 | ||||||
| Citigroup Commercial Mortgage Trust, Series 2013-375P, Class C, | ||||||||
| 3.518% VRN 5/10/35 (b) (f) | 390,000 | 355,110 | ||||||
| COMM Mortgage Trust, Series 2015-LC23, Class AM, | ||||||||
| 4.158% VRN 10/10/48 (f) | 1,650,000 | 1,538,307 | ||||||
| Credit Suisse Mortgage Trust | ||||||||
| Series 2020-NET, Class A, 2.257% 8/15/37 (b) | 292,236 | 269,922 | ||||||
| Series 2020-NET, Class C, 3.526% 8/15/37 (b) | 480,000 | 433,170 | ||||||
| DC Office Trust, Series 2019-MTC, Class D, | ||||||||
| 3.072% VRN 9/15/45 (b) (f) | 520,000 | 329,942 | ||||||
| Great Wolf Trust | ||||||||
| Series 2019-WOLF, Class A, 1 mo. USD Term SOFR + 1.148% 6.711% FRN 12/15/36 (b) | 710,000 | 707,337 | ||||||
| Series 2019-WOLF, Class C, 1 mo. USD Term SOFR + 1.747% 7.310% FRN 12/15/36 (b) | 435,000 | 431,465 | ||||||
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-WPT, Class AFX | ||||||||
| 4.248% 7/05/33 (b) | 115,000 | 101,737 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| SCG Mortgage Trust, Series 2023-NASH, Class A, 1 mo. USD Term SOFR + 2.390% | ||||||||
| 7.752% FRN 12/15/40 (b) | $ | 640,000 | $ | 639,604 | ||||
| VNDO Trust, Series 2016-350P, Class D, | ||||||||
| 3.903% VRN 1/10/35 (b) (f) | 215,000 | 193,703 | ||||||
| Wells Fargo Commercial Mortgage Trust | ||||||||
| Series 2017-C39, Class B, 4.025% 9/15/50 | 1,010,000 | 905,524 | ||||||
| Series 2021-SAVE, Class C, 1 mo. USD Term SOFR + 1.914% 7.277% FRN 2/15/40 (b) | 324,000 | 298,368 | ||||||
| 8,075,241 | ||||||||
| Other Asset-Backed Securities — 2.4% | ||||||||
| 522 Funding CLO Ltd., Series 2019-5A, Class BR, 3 mo. USD Term SOFR + 1.850% | ||||||||
| 7.244% FRN 4/15/35 (b) | 465,000 | 458,520 | ||||||
| AGL CLO 17 Ltd., Series 2022-17A, Class A, 3 mo. USD Term SOFR + 1.330% | ||||||||
| 6.742% FRN 1/21/35 (b) | 630,000 | 628,245 | ||||||
| Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class C | ||||||||
| 2.370% 4/20/28 (b) | 175,000 | 163,589 | ||||||
| Applebee's Funding LLC/IHOP Funding LLC, Series 2023-1A, Class A2 | ||||||||
| 7.824% 3/05/53 (b) | 270,000 | 276,786 | ||||||
| Carlyle US CLO Ltd., Series 2019-4A, Class A11R, 3 mo. USD Term SOFR + 1.320% | ||||||||
| 6.714% FRN 4/15/35 (b) | 865,000 | 863,531 | ||||||
| CIFC Funding Ltd. | ||||||||
| Series 2021-3A, Class A, 3 mo. USD Term SOFR + 1.402% 6.796% FRN 7/15/36 (b) | 585,000 | 584,799 | ||||||
| Series 2020-1A, Class A1R, 3 mo. USD Term SOFR + 1.412% 6.806% FRN 7/15/36 (b) | 925,000 | 924,961 | ||||||
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class A2 | ||||||||
| 4.940% 1/25/52 CAD (b) (c) | 275,000 | 193,373 | ||||||
| Dell Equipment Finance Trust, Series 2023-3, Class C | ||||||||
| 6.170% 4/23/29 (b) | 125,000 | 127,030 | ||||||
| Driven Brands Funding LLC | ||||||||
| Series 2020-2A, Class A2, 3.237% 1/20/51 (b) | 549,463 | 486,080 | ||||||
| Series 2020-1A, Class A2, 3.786% 7/20/50 (b) | 266,063 | 242,201 | ||||||
| Dryden 86 CLO Ltd., Series 2020-86A, Class A1R, 3 mo. USD Term SOFR + 1.362% | ||||||||
| 6.764% FRN 7/17/34 (b) | 600,000 | 598,982 | ||||||
| Elara HGV Timeshare Issuer LLC | ||||||||
| Series 2023-A, Class A, 6.160% 2/25/38 (b) | 329,578 | 336,685 | ||||||
| Series 2023-A, Class B, 6.530% 2/25/38 (b) | 167,110 | 170,366 | ||||||
| Hardee's Funding LLC | ||||||||
| Series 2021-1A, Class A2, 2.865% 6/20/51 (b) | 292,500 | 239,999 | ||||||
| Series 2018-1A, Class AII, 4.959% 6/20/48 (b) | 412,163 | 394,556 | ||||||
| HPEFS Equipment Trust | ||||||||
| Series 2022-1A, Class C, 1.960% 5/21/29 (b) | 129,000 | 125,184 | ||||||
| Series 2022-1A, Class D, 2.400% 11/20/29 (b) | 350,000 | 330,703 | ||||||
| Series 2022-3A, Class C, 6.130% 8/20/29 (b) | 615,000 | 618,010 | ||||||
| Series 2023-2A, Class B, 6.250% 1/21/31 (b) | 100,000 | 101,470 | ||||||
| Series 2023-2A, Class C, 6.480% 1/21/31 (b) | 140,000 | 142,338 | ||||||
| Series 2023-2A, Class D, 6.970% 7/21/31 (b) | 100,000 | 102,105 | ||||||
| HPS Loan Management Ltd. | ||||||||
| Series 2021-16A, Class A1, 3 mo. USD Term SOFR + 1.402% 6.814% FRN 1/23/35 (b) | 290,000 | 289,566 | ||||||
| Series 11A-17, Class BR, 3 mo. USD Term SOFR + 1.812% 7.204% FRN 5/06/30 (b) | 265,000 | 263,000 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Kubota Credit Owner Trust, Series 2023-1A, Class A4 | ||||||||
| 5.070% 2/15/29 (b) | $ | 110,000 | $ | 109,506 | ||||
| Madison Park Funding XXXIII Ltd., Series 2019-33A, Class AR, 3 mo. USD Term SOFR + 1.290% | ||||||||
| 6.684% FRN 10/15/32 (b) | 465,000 | 464,763 | ||||||
| MidOcean Credit CLO XI Ltd., Series 2022-11A, Class A1R, 3 mo. USD Term SOFR + 1.730% | ||||||||
| 7.096% FRN 10/18/33 (b) | 455,000 | 454,973 | ||||||
| MVW LLC | ||||||||
| Series 2023-2A, Class A, 6.180% 11/20/40 (b) | 585,767 | 597,837 | ||||||
| Series 2023-2A, Class B, 6.330% 11/20/40 (b) | 127,983 | 130,562 | ||||||
| MVW Owner Trust, Series 2023-1A, Class A | ||||||||
| 4.930% 10/20/40 (b) | 519,211 | 513,641 | ||||||
| Neuberger Berman Loan Advisers CLO 32 Ltd., Series 2019-32A, Class AR, 3 mo. USD Term SOFR + 1.252% | ||||||||
| 6.648% FRN 1/20/32 (b) | 995,000 | 994,222 | ||||||
| Neuberger Berman Loan Advisers CLO 43 Ltd., Series 2021-43A, Class A, 3 mo. USD Term SOFR + 1.392% | ||||||||
| 6.794% FRN 7/17/35 (b) | 685,000 | 684,985 | ||||||
| Octane Receivables Trust | ||||||||
| Series 2023-1A, Class A, 5.870% 5/21/29 (b) | 104,887 | 104,756 | ||||||
| Series 2023-3A, Class B, 6.480% 7/20/29 (b) | 150,000 | 152,651 | ||||||
| Series 2023-3A, Class C, 6.740% 8/20/29 (b) | 100,000 | 101,744 | ||||||
| Series 2023-3A, Class D, 7.580% 9/20/29 (b) | 100,000 | 102,225 | ||||||
| OZLM VII Ltd., Series 2014-7RA, Class A1R, 3 mo. USD Term SOFR + 1.272% | ||||||||
| 6.674% FRN 7/17/29 (b) | 114,662 | 114,503 | ||||||
| Palmer Square CLO Ltd., Series 2020-3A, Class A1R2, 3 mo. USD Term SOFR + 1.650% | ||||||||
| 7.025% FRN 11/15/36 (b) | 430,000 | 430,000 | ||||||
| Progress Residential Trust | ||||||||
| Series 2020-SFR3, Class B, 1.495% 10/17/27 (b) | 100,000 | 92,955 | ||||||
| Series 2023-SFR2, Class A, 4.500% 10/17/28 (b) | 475,000 | 458,984 | ||||||
| SCF Equipment Leasing LLC, Series 2023-1A, Class A2 | ||||||||
| 6.560% 1/22/30 (b) | 255,000 | 256,656 | ||||||
| Symphony CLO XXXI Ltd., Series 2022-31A, Class B, 3 mo. USD Term SOFR + 1.850% | ||||||||
| 7.262% FRN 4/22/35 (b) | 410,000 | 405,647 | ||||||
| Verizon Master Trust, Series 2023-1, Class C | ||||||||
| 4.980% 1/22/29 | 250,000 | 243,751 | ||||||
| Wellfleet CLO Ltd., Series 2017-2A, Class A1R, 3 mo. USD Term SOFR + 1.322% | ||||||||
| 6.737% FRN 10/20/29 (b) | 224,508 | 224,380 | ||||||
| 15,300,820 | ||||||||
| Student Loans Asset-Backed Securities — 0.2% | ||||||||
| Navient Private Education Refi Loan Trust, Series 2020-CA, Class B | ||||||||
| 2.830% 11/15/68 (b) | 470,000 | 389,080 | ||||||
| SMB Private Education Loan Trust | ||||||||
| Series 2020-BA, Class A1A, 1.290% 7/15/53 (b) | 148,415 | 134,698 | ||||||
| Series 2021-A, Class B, 2.310% 1/15/53 (b) | 563,730 | 520,836 | ||||||
| Series 2018-A, Class A2A, 3.500% 2/15/36 (b) | 442,939 | 430,166 | ||||||
| 1,474,780 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 0.7% | ||||||||
| Angel Oak Mortgage Trust | ||||||||
| Series 2022-1, Class A1, 2.881% STEP 12/25/66 (b) | 287,710 | 256,767 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2020-5, Class M1, 2.970% VRN 5/25/65 (b) (f) | $ | 275,000 | $ | 223,893 | ||||
| BINOM Securitization Trust, Series 2021-INV1, Class A1, | ||||||||
| 2.034% VRN 6/25/56 (b) (f) | 260,733 | 223,171 | ||||||
| CIM Trust, Series 2021-INV1, Class A29, | ||||||||
| 2.500% VRN 7/01/51 (b) (f) | 569,252 | 453,178 | ||||||
| Citigroup Mortgage Loan Trust, Series 2022-INV1, Class A4B, | ||||||||
| 3.000% VRN 11/27/51 (b) (f) | 209,204 | 173,803 | ||||||
| Flagstar Mortgage Trust | ||||||||
| Series 2018-6RR, Class 2A4, 4.000% VRN 9/25/48 (b) (f) | 13,774 | 13,190 | ||||||
| Series 2020-1INV, Class A11, 1 mo. USD Term SOFR + 0.964% 6.000% FRN 3/25/50 (b) | 80,342 | 74,573 | ||||||
| Galton Funding Mortgage Trust, Series 2018-1, Class A23, | ||||||||
| 3.500% VRN 11/25/57 (b) (f) | 18,225 | 16,358 | ||||||
| GS Mortgage-Backed Securities Trust, Series 2020-INV1, Class A14, | ||||||||
| 2.925% VRN 10/25/50 (b) (f) | 229,086 | 196,530 | ||||||
| Imperial Fund Mortgage Trust, Series 2021-NQM2, Class A1, | ||||||||
| 1.073% VRN 9/25/56 (b) (f) | 190,140 | 150,368 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2020-LTV1, Class B1, 3.245% VRN 6/25/50 (b) (f) | 349,266 | 290,109 | ||||||
| Series 2019-INV3, Class A3, 3.500% VRN 5/25/50 (b) (f) | 99,256 | 88,088 | ||||||
| Series 2020-LTV1, Class A3, 3.500% VRN 6/25/50 (b) (f) | 16,305 | 15,793 | ||||||
| Series 2020-INV1, Class A3, 3.500% VRN 8/25/50 (b) (f) | 88,145 | 78,541 | ||||||
| Series 2020-5, Class B2, 3.573% VRN 12/25/50 (b) (f) | 327,835 | 279,514 | ||||||
| Series 2020-INV1, Class A11, 1 mo. USD Term SOFR + 0.944% 6.000% FRN 8/25/50 (b) | 55,825 | 52,359 | ||||||
| Morgan Stanley Residential Mortgage Loan Trust, Series 2023-NQM1, Class A2, | ||||||||
| 7.530% STEP 9/25/68 (b) | 162,341 | 165,482 | ||||||
| OBX Trust | ||||||||
| Series 2020-EXP1, Class 1A8, 3.500% VRN 2/25/60 (b) (f) | 236,700 | 208,777 | ||||||
| Series 2019-INV2, Class A25, 4.000% VRN 5/27/49 (b) (f) | 97,442 | 89,342 | ||||||
| Series 2023-NQM9, Class A2, 7.513% STEP 10/25/63 (b) | 98,944 | 101,068 | ||||||
| Sequoia Mortgage Trust | ||||||||
| Series 2017-CH1, Class A2, 3.500% VRN 8/25/47 (b) (f) | 37,719 | 34,647 | ||||||
| Series 2017-CH1, Class A13, 4.000% VRN 8/25/47 (b) (f) | 46,889 | 44,096 | ||||||
| Series 2018-CH3, Class A2, 4.000% VRN 8/25/48 (b) (f) | 7,408 | 7,154 | ||||||
| SG Residential Mortgage Trust, Series 2019-3, Class A1, | ||||||||
| 2.703% VRN 9/25/59 (b) (f) | 8,154 | 7,919 | ||||||
| Towd Point Mortgage Trust, Series 2019-HY3, Class A1A, 1 mo. USD Term SOFR + 1.114% | ||||||||
| 6.470% FRN 10/25/59 (b) | 93,068 | 93,571 | ||||||
| Verus Securitization Trust | ||||||||
| Series 2021-5, Class A2, 1.218% VRN 9/25/66 (b) (f) | 259,462 | 212,062 | ||||||
| Series 2022-1, Class A1, 2.724% STEP 1/25/67 (b) | 696,983 | 625,559 | ||||||
| Series 2020-INV1, Class A3, 3.889% VRN 3/25/60 (b) (f) | 100,000 | 96,174 | ||||||
| 4,272,086 | ||||||||
| Whole Loan Collateral Support Collateralized Mortgage Obligations — 0.2% | ||||||||
| Bayview MSR Opportunity Master Fund Trust, Series 2021-4, Class A20, | ||||||||
| 2.500% VRN 10/25/51 (b) (f) | 402,507 | 320,434 | ||||||
| GS Mortgage-Backed Securities Trust | ||||||||
| Series 2021-GR1, Class A4, 2.500% VRN 11/25/51 (b) (f) | 428,046 | 341,300 | ||||||
| Series 2021-GR2, Class A4, 2.500% VRN 2/25/52 (b) (f) | 440,586 | 351,298 | ||||||
| JP Morgan Mortgage Trust | ||||||||
| Series 2019-INV3, Class A15, 3.500% VRN 5/25/50 (b) (f) | 85,447 | 75,403 | ||||||
| Series 2020-LTV1, Class A15, 3.500% VRN 6/25/50 (b) (f) | 6,970 | 6,743 | ||||||
| Sequoia Mortgage Trust | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Series 2018-CH1, Class A19, 4.000% VRN 3/25/48 (b) (f) | $ | 59,653 | $ | 55,081 | ||||
| Series 2018-CH2, Class A21, 4.000% VRN 6/25/48 (b) (f) | 20,255 | 18,732 | ||||||
| 1,168,991 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $41,165,537) | 38,792,608 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 16.6% | ||||||||
| Albania Government International Bond | ||||||||
| 3.500% 6/16/27 EUR (b) (c) | 105,000 | 111,797 | ||||||
| 3.500% 11/23/31 EUR (b) (c) | 290,000 | 279,814 | ||||||
| 5.900% 6/09/28 EUR (b) (c) | 410,000 | 461,672 | ||||||
| Australia Government International Bond | ||||||||
| 3.000% 3/21/47 AUD (b) (c) | 738,000 | 405,860 | ||||||
| 4.500% 4/21/33 AUD (b) (c) | 3,271,000 | 2,323,393 | ||||||
| Austria Government Bond | ||||||||
| 0.750% 3/20/51 AUD (b) (c) | 1,040,000 | 697,602 | ||||||
| Brazil Notas do Tesouro Nacional Serie B | ||||||||
| 6.000% 8/15/30 BRL (c) | 720,000 | 660,518 | ||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/27 BRL (c) | 2,855,000 | 561,247 | ||||||
| 10.000% 1/01/31 BRL (c) (g) | 2,855,000 | 551,613 | ||||||
| Bulgaria Government International Bond | ||||||||
| 4.375% 5/13/31 EUR (b) (c) | 787,000 | 912,249 | ||||||
| 4.500% 1/27/33 EUR (b) (c) | 485,000 | 561,517 | ||||||
| 4.500% 1/27/33 EUR (b) (c) | 230,000 | 266,287 | ||||||
| 4.875% 5/13/36 EUR (b) (c) | 878,000 | 1,037,292 | ||||||
| Bundesobligation | ||||||||
| 10/09/26 EUR (b) (c) | 2,080,000 | 2,166,251 | ||||||
| Bundesrepublik Deutschland Bundesanleihe | ||||||||
| 0.000% 2/15/30 EUR (b) (c) | 2,585,000 | 2,546,435 | ||||||
| 0.000% 8/15/52 EUR (b) (c) | 634,210 | 373,041 | ||||||
| 4.750% 7/04/40 EUR (b) (c) | 491,000 | 725,092 | ||||||
| Canada Government Real Return Bond | ||||||||
| 4.000% 12/01/31 CAD (c) | 1,775,376 | 1,605,375 | ||||||
| Canadian Government International Bond | ||||||||
| 5.000% 6/01/37 CAD (c) | 950,000 | 863,120 | ||||||
| Chile Government International Bond | ||||||||
| 4.125% 7/05/34 EUR (c) | 170,000 | 191,387 | ||||||
| China Development Bank | ||||||||
| 3.480% 1/08/29 CNY (c) | 9,000,000 | 1,322,532 | ||||||
| China Government Bond | ||||||||
| 2.670% 5/25/33 CNY (c) | 34,000,000 | 4,818,137 | ||||||
| 3.320% 4/15/52 CNY (c) | 10,000,000 | 1,517,092 | ||||||
| 4.000% 6/24/69 CNY (c) | 1,000,000 | 178,666 | ||||||
| Colombia TES | ||||||||
| 6.000% 4/28/28 COP (c) | 1,597,700,000 | 363,295 | ||||||
| 7.000% 3/26/31 COP (c) | 2,550,000,000 | 567,377 | ||||||
| 13.250% 2/09/33 COP (c) | 2,377,700,000 | 728,449 | ||||||
| Cyprus Government International Bond | ||||||||
| 0.950% 1/20/32 EUR (b) (c) | 610,000 | 577,516 | ||||||
| 2.750% 2/26/34 EUR (b) (c) | 93,000 | 96,392 | ||||||
| 2.750% 5/03/49 EUR (b) (c) | 99,000 | 90,587 | ||||||
| Czech Republic Government International Bond | ||||||||
| 1.500% 4/24/40 CZK (c) | 5,960,000 | 190,747 | ||||||
| French Republic Government Bond OAT | ||||||||
| 1.250% 5/25/36 EUR (b) (c) | 1,713,000 | 1,599,960 | ||||||
| 3.000% 5/25/33 EUR (b) (c) | 445,000 | 511,014 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Hellenic Republic Government Bond | ||||||||
| 0.750% 6/18/31 EUR (b) (c) | $ | 585,000 | $ | 548,346 | ||||
| Hungary Government International Bond | ||||||||
| 2.250% 4/20/33 HUF (c) | 924,330,000 | 2,012,718 | ||||||
| 5.000% 2/22/27 EUR (b) (c) | 247,000 | 283,956 | ||||||
| Iceland Government International Bond | ||||||||
| 0.000% 4/15/28 EUR (b) (c) | 346,000 | 332,397 | ||||||
| India Government International Bond | ||||||||
| 7.260% 8/22/32 INR (c) | 94,100,000 | 1,129,274 | ||||||
| Indonesia Government International Bond | ||||||||
| 3.750% 6/14/28 IDR (b) (c) | 1,280,000 | 1,421,396 | ||||||
| Indonesia Treasury Bond | ||||||||
| 5.500% 4/15/26 IDR (c) | 12,480,000,000 | 794,150 | ||||||
| 6.375% 8/15/28 IDR (c) | 11,696,000,000 | 757,031 | ||||||
| 6.375% 4/15/32 IDR (c) | 8,575,000,000 | 550,277 | ||||||
| 6.500% 2/15/31 IDR (c) | 1,586,000,000 | 102,441 | ||||||
| 7.000% 2/15/33 IDR (c) | 18,983,000,000 | 1,275,623 | ||||||
| Ireland Government International Bond | ||||||||
| 1.500% 5/15/50 EUR (b) (c) | 73,000 | 60,457 | ||||||
| 2.000% 2/18/45 EUR (b) (c) | 157,000 | 149,436 | ||||||
| Israel Government International Bond | ||||||||
| 1.500% 1/18/27 EUR (b) (c) | 530,000 | 541,659 | ||||||
| 5.500% 1/31/42 ILS (c) | 506,000 | 158,719 | ||||||
| Italy Buoni Poliennali Del Tesoro | ||||||||
| 1.300% 5/15/28 EUR (b) (c) | 954,151 | 1,052,688 | ||||||
| 2.800% 3/01/67 EUR (b) (c) | 961,000 | 778,518 | ||||||
| 4.400% 5/01/33 EUR (b) (c) | 3,482,000 | 4,095,718 | ||||||
| Ivory Coast Government International Bond | ||||||||
| 5.875% 10/17/31 EUR (b) (c) | 245,000 | 241,852 | ||||||
| Japan Government CPI-Linked Bond | ||||||||
| 0.005% 3/10/32 JPY (c) | 118,864,480 | 903,707 | ||||||
| Japan Government Forty Year Bond | ||||||||
| 1.300% 3/20/63 JPY (c) | 278,300,000 | 1,712,690 | ||||||
| Japan Government Ten Year Bond | ||||||||
| 0.400% 3/20/25 JPY (c) | 336,200,000 | 2,396,486 | ||||||
| Japan Government Thirty Year Bond | ||||||||
| 0.700% 12/20/51 JPY (c) | 20,300,000 | 113,902 | ||||||
| 1.000% 3/20/52 JPY (c) | 297,750,000 | 1,807,490 | ||||||
| 1.300% 6/20/52 JPY (c) | 221,250,000 | 1,446,410 | ||||||
| 1.400% 9/20/52 JPY (c) | 285,200,000 | 1,907,846 | ||||||
| 1.700% 9/20/44 JPY (c) | 319,100,000 | 2,372,158 | ||||||
| Japanese Government CPI-Linked Bond | ||||||||
| 0.005% 3/10/31 JPY (c) | 198,603,045 | 1,508,538 | ||||||
| 0.100% 3/10/24 JPY (c) | 113,637,300 | 811,983 | ||||||
| 0.100% 9/10/24 JPY (c) | 299,124,600 | 2,153,273 | ||||||
| 0.100% 3/10/25 JPY (c) | 268,754,500 | 1,952,759 | ||||||
| Latvia Government International Bond | ||||||||
| 0.375% 10/07/26 EUR (b) (c) | 2,114,000 | 2,165,254 | ||||||
| 3.875% 5/22/29 EUR (b) (c) | 350,000 | 398,457 | ||||||
| Lithuania Government International Bond | ||||||||
| 3.875% 6/14/33 EUR (b) (c) | 815,000 | 939,838 | ||||||
| Magyar Export-Import Bank Zrt | ||||||||
| 6.000% 5/16/29 EUR (b) (c) | 120,000 | 140,262 | ||||||
| Malaysia Government International Bond | ||||||||
| 3.900% 11/30/26 MYR (c) | 680,000 | 149,575 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.906% 7/15/26 MYR (c) | $ | 4,710,000 | $ | 1,035,524 | ||||
| 4.065% 6/15/50 MYR (c) | 2,120,000 | 452,623 | ||||||
| 4.642% 11/07/33 MYR (c) | 1,255,000 | 293,129 | ||||||
| 4.736% 3/15/46 MYR (c) | 5,640,000 | 1,315,444 | ||||||
| 4.921% 7/06/48 MYR (c) | 5,755,000 | 1,383,003 | ||||||
| 4.935% 9/30/43 MYR (c) | 325,000 | 77,202 | ||||||
| Mexican Bonos | ||||||||
| 7.500% 5/26/33 MXN (c) | 13,072,000 | 697,171 | ||||||
| 8.500% 5/31/29 MXN (c) | 4,567,000 | 263,079 | ||||||
| 8.500% 11/18/38 MXN (c) | 18,900,000 | 1,061,376 | ||||||
| New South Wales Treasury Corp. | ||||||||
| 4.000% 5/20/26 AUD (b) (c) | 860,000 | 587,331 | ||||||
| 4.000% 5/20/26 AUD (b) (c) | 680,000 | 464,401 | ||||||
| New Zealand Government International Bond | ||||||||
| 2.750% 5/15/51 NZD (c) | 585,000 | 263,802 | ||||||
| 3.500% 4/14/33 NZD (b) (c) | 2,211,000 | 1,309,700 | ||||||
| North Macedonia Government International Bond | ||||||||
| 6.960% 3/13/27 EUR (b) (c) | 150,000 | 172,684 | ||||||
| Norway Government International Bond | ||||||||
| 3.000% 3/14/24 NOK (b) (c) | 2,700,000 | 264,821 | ||||||
| Peru Government Bond | ||||||||
| 5.400% 8/12/34 PEN (c) | 5,000,000 | 1,220,551 | ||||||
| Philippines Government International Bond | ||||||||
| 0.250% 4/28/25 EUR (c) | 125,000 | 131,443 | ||||||
| Poland Government International Bond | ||||||||
| 6.000% 10/25/33 PLN (c) | 2,030,000 | 546,986 | ||||||
| Province of Ontario | ||||||||
| 3.500% 6/02/43 CAD (c) | 62,000 | 43,413 | ||||||
| 3.500% 6/02/43 CAD (c) | 76,000 | 53,216 | ||||||
| Senegal Government International Bond | ||||||||
| 1.000% 9/23/28 EUR (b) (c) | 850,000 | 789,945 | ||||||
| 1.500% 6/26/29 EUR (b) (c) | 282,000 | 262,282 | ||||||
| 1.650% 3/03/33 EUR (b) (c) | 435,000 | 354,052 | ||||||
| 5.375% 6/08/37 EUR (b) (c) | 255,000 | 207,612 | ||||||
| Singapore Government International Bond | ||||||||
| 0.500% 11/01/25 SGD (c) | 1,350,000 | 972,818 | ||||||
| 1.625% 7/01/31 SGD (c) | 1,248,000 | 875,184 | ||||||
| 2.375% 6/01/25 SGD (c) | 480,000 | 358,213 | ||||||
| 2.875% 7/01/29 SGD (c) | 960,000 | 732,502 | ||||||
| Slovenia Government International Bond | ||||||||
| 0.000% 2/12/31 EUR (b) (c) | 155,000 | 140,036 | ||||||
| 1.500% 3/25/35 EUR (b) (c) | 243,000 | 225,982 | ||||||
| 2.250% 3/03/32 EUR (b) (c) | 170,000 | 179,287 | ||||||
| 3.125% 8/07/45 EUR (b) (c) | 581,000 | 632,795 | ||||||
| Spain Government International Bond | ||||||||
| 0.000% 1/31/28 EUR (c) | 1,726,000 | 1,720,750 | ||||||
| Sri Lanka Government Bond | ||||||||
| 11.000% 6/01/26 LKR (c) | 27,000,000 | 78,748 | ||||||
| 11.400% 1/15/27 LKR (c) | 31,000,000 | 90,301 | ||||||
| 11.500% 8/01/26 LKR (c) | 28,000,000 | 82,345 | ||||||
| 20.000% 9/15/27 LKR (c) | 19,000,000 | 68,873 | ||||||
| Sweden Bonds Inflation-Linked | ||||||||
| 0.125% 6/01/32 SEK (b) (c) | 5,630,000 | 711,425 | ||||||
| Sweden Government International Bond | ||||||||
| 2.250% 6/01/32 SEK (b) (c) | 26,835,000 | 2,712,270 | ||||||
| Thailand Government International Bond | ||||||||
| 2.000% 12/17/31 THB (c) | 47,894,000 | 1,338,483 | ||||||
| 3.450% 6/17/43 THB (c) | 18,950,000 | 580,671 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.650% 6/20/31 THB (c) | $ | 32,753,000 | $ | 1,024,025 | ||||
| UK Gilts | ||||||||
| 0.625% 6/07/25 GBP (b) (c) | 1,393,000 | 1,690,987 | ||||||
| 0.625% 10/22/50 GBP (b) (c) | 1,898,000 | 1,067,147 | ||||||
| 1.500% 7/22/26 GBP (b) (c) | 1,279,000 | 1,549,910 | ||||||
| 1.625% 10/22/28 GBP (b) (c) | 858,000 | 1,012,457 | ||||||
| 4.250% 12/07/46 GBP (b) (c) | 1,699,000 | 2,200,497 | ||||||
| UK Inflation-Linked Gilts | ||||||||
| 0.125% 3/22/26 GPB (b) (c) | 873,524 | 1,108,641 | ||||||
| 103,435,747 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $107,582,588) | 103,435,747 | |||||||
| U.S. Government Agency Obligations and Instrumentalities (h) — 20.0% | ||||||||
| Collateralized Mortgage Obligations — 0.0% | ||||||||
| Federal Home Loan Mortgage Corp. REMICS Series 4977, Class IO 4.500% 5/25/50 | 225,842 | 42,857 | ||||||
| Government National Mortgage Association REMICS Series 2022-63, Class LM 3.500% 10/20/50 | 260,000 | 216,135 | ||||||
| 258,992 | ||||||||
| Pass-Through Securities — 19.9% | ||||||||
| Federal Home Loan Mortgage Corp. | ||||||||
| Pool #SB0869 1.500% 2/01/36 | 190,229 | 166,703 | ||||||
| Pool #RC1756 1.500% 2/01/36 | 221,313 | 193,944 | ||||||
| Pool #SB8147 1.500% 4/01/37 | 307,908 | 267,905 | ||||||
| Pool #QN7552 2.000% 8/01/36 | 280,680 | 251,772 | ||||||
| Pool #RB5148 2.000% 3/01/42 | 590,166 | 503,687 | ||||||
| Pool #RA3046 2.000% 7/01/50 | 25,491 | 21,078 | ||||||
| Pool #SD8128 2.000% 2/01/51 | 1,521,590 | 1,250,126 | ||||||
| Pool #SD8140 2.000% 4/01/51 | 319,135 | 261,899 | ||||||
| Pool #RA5258 2.000% 5/01/51 | 801,975 | 658,144 | ||||||
| Pool #SD8146 2.000% 5/01/51 | 496,304 | 407,294 | ||||||
| Pool #QC2565 2.000% 6/01/51 | 30,320 | 24,882 | ||||||
| Pool #RA6505 2.000% 12/01/51 | 1,392,314 | 1,142,608 | ||||||
| Pool #QD9658 2.000% 2/01/52 | 33,080 | 27,033 | ||||||
| Pool #SD8199 2.000% 3/01/52 | 1,313,343 | 1,074,107 | ||||||
| Pool #SD1217 2.000% 3/01/52 | 228,447 | 188,761 | ||||||
| Pool #SD3580 2.000% 4/01/52 | 259,167 | 214,306 | ||||||
| Pool #SD8204 2.000% 4/01/52 | 212,809 | 174,044 | ||||||
| Pool #RA7324 2.000% 5/01/52 | 140,350 | 115,924 | ||||||
| Pool #RB5149 2.500% 3/01/42 | 628,355 | 554,983 | ||||||
| Pool #SD8089 2.500% 7/01/50 | 139,427 | 119,660 | ||||||
| Pool #SD8099 2.500% 10/01/50 | 146,767 | 125,869 | ||||||
| Pool #SD7535 2.500% 2/01/51 | 303,414 | 262,960 | ||||||
| Pool #QC3425 2.500% 6/01/51 | 213,121 | 181,509 | ||||||
| Pool #QC2902 2.500% 6/01/51 | 35,630 | 30,879 | ||||||
| Pool #SD8161 2.500% 8/01/51 | 871,551 | 744,180 | ||||||
| Pool #QC5575 2.500% 8/01/51 | 75,305 | 64,111 | ||||||
| Pool #RA6623 2.500% 1/01/52 | 1,037,578 | 891,942 | ||||||
| Pool #SD8200 2.500% 3/01/52 | 648,184 | 552,342 | ||||||
| Pool #SD8212 2.500% 5/01/52 | 2,661,473 | 2,267,111 | ||||||
| Pool #RB5162 3.000% 6/01/42 | 111,733 | 101,719 | ||||||
| Pool #RB5166 3.000% 7/01/42 | 62,955 | 57,313 | ||||||
| Pool #RB5173 3.000% 8/01/42 | 54,302 | 49,435 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #SD1497 3.000% 4/01/43 | $ | 285,947 | $ | 263,372 | ||||
| Pool #ZS4693 3.000% 12/01/46 | 65,985 | 59,700 | ||||||
| Pool #G08756 3.000% 4/01/47 | 27,851 | 25,228 | ||||||
| Pool #SD0080 3.000% 9/01/49 | 123,722 | 112,054 | ||||||
| Pool #SD7531 3.000% 12/01/50 | 148,475 | 133,428 | ||||||
| Pool #RA6348 3.000% 11/01/51 | 415,879 | 370,224 | ||||||
| Pool #SD1183 3.000% 1/01/52 | 247,807 | 221,300 | ||||||
| Pool #SD8220 3.000% 6/01/52 | 622,664 | 551,390 | ||||||
| Pool #SD7555 3.000% 8/01/52 | 858,375 | 770,313 | ||||||
| Pool #SB0015 3.500% 6/01/33 | 120,886 | 117,028 | ||||||
| Pool #U90690 3.500% 6/01/42 | 44,216 | 41,592 | ||||||
| Pool #U99051 3.500% 6/01/43 | 43,883 | 41,267 | ||||||
| Pool #ZM3532 3.500% 6/01/47 | 167,596 | 156,405 | ||||||
| Pool #ZT0179 3.500% 11/01/47 | 272,889 | 255,690 | ||||||
| Pool #RA1202 3.500% 8/01/49 | 102,616 | 95,764 | ||||||
| Pool #SD0212 3.500% 12/01/49 | 139,127 | 129,750 | ||||||
| Pool #SD1361 3.500% 2/01/50 | 754,645 | 708,500 | ||||||
| Pool #SD0617 3.500% 11/01/50 | 96,598 | 90,027 | ||||||
| Pool #SB8171 4.000% 6/01/37 | 58,980 | 57,864 | ||||||
| Pool #SB0727 4.000% 8/01/37 | 208,200 | 204,781 | ||||||
| Pool #RA1906 4.000% 12/01/49 | 181,274 | 174,521 | ||||||
| Pool #SD8039 4.000% 1/01/50 | 218,830 | 209,720 | ||||||
| Pool #SD1035 4.000% 5/01/52 | 211,503 | 200,087 | ||||||
| Pool #SD0422 4.500% 7/01/45 | 107,623 | 107,457 | ||||||
| Pool #RA2607 4.500% 5/01/50 | 46,702 | 45,821 | ||||||
| Pool #SD8266 4.500% 11/01/52 | 428,855 | 416,141 | ||||||
| Pool #ZS3941 5.000% 12/01/41 | 32,986 | 33,643 | ||||||
| Pool #QF0658 5.000% 8/01/52 | 753,031 | 747,880 | ||||||
| Pool #QF1305 5.000% 10/01/52 | 68,855 | 68,255 | ||||||
| Pool #SD3041 5.000% 5/01/53 | 110,091 | 108,994 | ||||||
| Pool #SD3630 5.500% 8/01/53 | 1,077,911 | 1,083,708 | ||||||
| Federal National Mortgage Association | ||||||||
| Pool #MA4581 1.500% 4/01/37 | 629,173 | 547,431 | ||||||
| Pool #MA4601 1.500% 5/01/37 | 526,964 | 458,501 | ||||||
| Pool #FS2037 1.500% 5/01/37 | 215,864 | 187,819 | ||||||
| Pool #MA4519 1.500% 1/01/42 | 556,141 | 454,214 | ||||||
| Pool #BP3454 2.000% 5/01/36 | 458,757 | 412,368 | ||||||
| Pool #BT6754 2.000% 9/01/36 | 398,330 | 356,683 | ||||||
| Pool #FM8732 2.000% 9/01/36 | 301,861 | 273,036 | ||||||
| Pool #MA4567 2.000% 3/01/37 | 1,465,007 | 1,311,832 | ||||||
| Pool #MA4582 2.000% 4/01/37 | 262,818 | 235,339 | ||||||
| Pool #MA4602 2.000% 5/01/37 | 1,343,614 | 1,203,132 | ||||||
| Pool #MA4570 2.000% 3/01/42 | 204,787 | 174,779 | ||||||
| Pool #MA4586 2.000% 4/01/42 | 949,790 | 810,614 | ||||||
| Pool #FS5191 2.000% 8/01/42 | 53,082 | 45,304 | ||||||
| Pool #FS2763 2.000% 8/01/42 | 45,688 | 38,993 | ||||||
| Pool #CA6587 2.000% 8/01/50 | 108,910 | 90,058 | ||||||
| Pool #MA4158 2.000% 10/01/50 | 259,333 | 213,309 | ||||||
| Pool #MA4208 2.000% 12/01/50 | 2,316,999 | 1,905,799 | ||||||
| Pool #MA4237 2.000% 1/01/51 | 941,274 | 773,343 | ||||||
| Pool #MA4255 2.000% 2/01/51 | 1,626,076 | 1,335,970 | ||||||
| Pool #MA4281 2.000% 3/01/51 | 1,766,825 | 1,451,609 | ||||||
| Pool #MA4305 2.000% 4/01/51 | 1,641,855 | 1,347,395 | ||||||
| Pool #MA4325 2.000% 5/01/51 | 3,252,350 | 2,669,055 | ||||||
| Pool #CB2357 2.000% 12/01/51 | 1,136,591 | 932,748 | ||||||
| Pool #CB2766 2.000% 2/01/52 | 346,399 | 284,274 | ||||||
| Pool #CB2848 2.000% 2/01/52 | 562,889 | 461,937 | ||||||
| Pool #FS0733 2.000% 2/01/52 | 501,190 | 414,123 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA4547 2.000% 2/01/52 | $ | 1,264,677 | $ | 1,033,910 | ||||
| Pool #FS1618 2.000% 3/01/52 | 256,106 | 211,535 | ||||||
| Pool #MA4562 2.000% 3/01/52 | 3,128,671 | 2,558,758 | ||||||
| Pool #MA4577 2.000% 4/01/52 | 603,848 | 493,852 | ||||||
| Pool #FS1571 2.000% 4/01/52 | 24,691 | 20,193 | ||||||
| Pool #MA4622 2.000% 6/01/52 | 675,161 | 551,964 | ||||||
| Pool #BM3859 2.500% 8/01/31 | 79,894 | 75,401 | ||||||
| Pool #BC9043 2.500% 11/01/31 | 233,921 | 220,565 | ||||||
| Pool #BM1890 2.500% 1/01/32 | 55,305 | 52,325 | ||||||
| Pool #FS4477 2.500% 5/01/37 | 1,473,288 | 1,362,846 | ||||||
| Pool #MA4628 2.500% 6/01/37 | 465,585 | 429,083 | ||||||
| Pool #MA4665 2.500% 7/01/37 | 385,029 | 354,843 | ||||||
| Pool #CB4726 2.500% 9/01/37 | 121,839 | 112,363 | ||||||
| Pool #FS4054 2.500% 2/01/38 | 46,877 | 43,202 | ||||||
| Pool #CA7026 2.500% 9/01/50 | 1,311,974 | 1,139,918 | ||||||
| Pool #CB0414 2.500% 5/01/51 | 81,805 | 70,003 | ||||||
| Pool #MA4326 2.500% 5/01/51 | 870,306 | 744,749 | ||||||
| Pool #MA4356 2.500% 6/01/51 | 822,660 | 703,976 | ||||||
| Pool #BT1265 2.500% 6/01/51 | 317,268 | 270,208 | ||||||
| Pool #BT0163 2.500% 6/01/51 | 47,666 | 41,310 | ||||||
| Pool #MA4379 2.500% 7/01/51 | 127,171 | 108,705 | ||||||
| Pool #CB1280 2.500% 8/01/51 | 62,067 | 52,996 | ||||||
| Pool #CB1331 2.500% 8/01/51 | 695,625 | 593,964 | ||||||
| Pool #CB1783 2.500% 10/01/51 | 1,408,822 | 1,208,655 | ||||||
| Pool #CB1866 2.500% 10/01/51 | 1,073,565 | 921,032 | ||||||
| Pool #MA4512 2.500% 1/01/52 | 29,486 | 25,117 | ||||||
| Pool #CB2635 2.500% 1/01/52 | 1,172,531 | 999,158 | ||||||
| Pool #CB2538 2.500% 1/01/52 | 1,019,935 | 876,775 | ||||||
| Pool #CB2638 2.500% 1/01/52 | 1,198,653 | 1,024,789 | ||||||
| Pool #CB2804 2.500% 2/01/52 | 701,304 | 602,429 | ||||||
| Pool #FS4283 2.500% 3/01/52 | 57,492 | 49,090 | ||||||
| Pool #FS2573 2.500% 3/01/52 | 80,492 | 69,533 | ||||||
| Pool #MA4578 2.500% 4/01/52 | 1,975,367 | 1,682,668 | ||||||
| Pool #FS2477 2.500% 5/01/52 | 868,290 | 745,194 | ||||||
| Pool #AS7056 3.000% 4/01/31 | 176,741 | 169,567 | ||||||
| Pool #BM5111 3.000% 11/01/33 | 85,316 | 81,755 | ||||||
| Pool #CA4885 3.000% 12/01/34 | 318,266 | 303,488 | ||||||
| Pool #BO7256 3.000% 1/01/35 | 164,506 | 156,302 | ||||||
| Pool #FM2547 3.000% 2/01/35 | 99,644 | 95,018 | ||||||
| Pool #FM8540 3.000% 11/01/35 | 175,788 | 168,248 | ||||||
| Pool #AL9412 3.000% 11/01/36 | 192,281 | 182,139 | ||||||
| Pool #CA5597 3.000% 4/01/40 | 782,415 | 728,186 | ||||||
| Pool #MA4632 3.000% 6/01/42 | 28,825 | 26,242 | ||||||
| Pool #MA4695 3.000% 7/01/42 | 169,244 | 154,076 | ||||||
| Pool #BM4221 3.000% 1/01/43 | 114,314 | 105,094 | ||||||
| Pool #BM5468 3.000% 2/01/43 | 172,856 | 158,933 | ||||||
| Pool #AB9248 3.000% 5/01/43 | 42,522 | 39,130 | ||||||
| Pool #AU1629 3.000% 7/01/43 | 12,567 | 11,543 | ||||||
| Pool #AS0406 3.000% 9/01/43 | 70,730 | 64,882 | ||||||
| Pool #BM5469 3.000% 3/01/44 | 319,491 | 293,580 | ||||||
| Pool #BM3380 3.000% 6/01/46 | 287,647 | 263,036 | ||||||
| Pool #MA2670 3.000% 7/01/46 | 100,916 | 91,367 | ||||||
| Pool #BD8462 3.000% 11/01/46 | 1,107,613 | 1,004,539 | ||||||
| Pool #AS8295 3.000% 11/01/46 | 250,672 | 228,206 | ||||||
| Pool #MA2806 3.000% 11/01/46 | 191,419 | 173,306 | ||||||
| Pool #BM1418 3.000% 4/01/47 | 1,258,585 | 1,141,461 | ||||||
| Pool #FM1000 3.000% 4/01/47 | 159,731 | 144,617 | ||||||
| Pool #MA2956 3.000% 4/01/47 | 125,742 | 113,765 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #BM4744 3.000% 6/01/47 | $ | 109,671 | $ | 99,842 | ||||
| Pool #FM1572 3.000% 9/01/48 | 227,064 | 205,579 | ||||||
| Pool #FM5499 3.000% 2/01/49 | 149,123 | 135,012 | ||||||
| Pool #FM1445 3.000% 8/01/49 | 107,498 | 97,360 | ||||||
| Pool #CA4108 3.000% 9/01/49 | 691,240 | 624,753 | ||||||
| Pool #FM2870 3.000% 3/01/50 | 194,420 | 174,838 | ||||||
| Pool #CA5540 3.000% 4/01/50 | 12,896 | 11,569 | ||||||
| Pool #CA6314 3.000% 7/01/50 | 181,511 | 161,302 | ||||||
| Pool #BQ1348 3.000% 8/01/50 | 119,473 | 106,768 | ||||||
| Pool #CA6738 3.000% 8/01/50 | 209,675 | 187,378 | ||||||
| Pool #BQ5052 3.000% 9/01/50 | 6,719 | 6,007 | ||||||
| Pool #FM7072 3.000% 4/01/51 | 623,735 | 559,160 | ||||||
| Pool #FS3569 3.000% 2/01/52 | 384,588 | 342,008 | ||||||
| Pool #FS0957 3.000% 3/01/52 | 39,981 | 35,486 | ||||||
| Pool #FS1538 3.000% 4/01/52 | 1,558,528 | 1,386,217 | ||||||
| Pool #FM3462 3.500% 12/01/33 | 266,635 | 258,609 | ||||||
| Pool #AS4449 3.500% 2/01/35 | 88,188 | 84,642 | ||||||
| Pool #FM3340 3.500% 5/01/35 | 7,635 | 7,410 | ||||||
| Pool #FM8137 3.500% 9/01/35 | 81,262 | 78,968 | ||||||
| Pool #MA1283 3.500% 12/01/42 | 37,129 | 34,859 | ||||||
| Pool #MA1373 3.500% 3/01/43 | 56,254 | 52,786 | ||||||
| Pool #MA1437 3.500% 5/01/43 | 52,102 | 48,859 | ||||||
| Pool #MA1546 3.500% 8/01/43 | 126,983 | 119,061 | ||||||
| Pool #AL6167 3.500% 1/01/44 | 505,721 | 474,517 | ||||||
| Pool #AS5182 3.500% 6/01/45 | 331,927 | 310,801 | ||||||
| Pool #BC1747 3.500% 1/01/46 | 838,223 | 784,347 | ||||||
| Pool #BM5785 3.500% 9/01/46 | 86,436 | 80,935 | ||||||
| Pool #FS1400 3.500% 7/01/47 | 22,371 | 21,181 | ||||||
| Pool #BM4582 3.500% 8/01/47 | 97,075 | 91,199 | ||||||
| Pool #BM3122 3.500% 10/01/47 | 993,665 | 931,040 | ||||||
| Pool #CA0858 3.500% 12/01/47 | 44,007 | 41,054 | ||||||
| Pool #MA3210 3.500% 12/01/47 | 31,053 | 28,970 | ||||||
| Pool #MA3238 3.500% 1/01/48 | 190,464 | 177,626 | ||||||
| Pool #BH9277 3.500% 2/01/48 | 337,528 | 314,779 | ||||||
| Pool #FM1001 3.500% 11/01/48 | 40,496 | 37,779 | ||||||
| Pool #FM8196 3.500% 12/01/48 | 673,253 | 628,297 | ||||||
| Pool #FM3972 3.500% 7/01/50 | 232,627 | 214,622 | ||||||
| Pool #FM8086 3.500% 7/01/51 | 109,768 | 100,938 | ||||||
| Pool #MA4514 3.500% 1/01/52 | 466,278 | 428,329 | ||||||
| Pool #BV3533 3.500% 2/01/52 | 37,908 | 34,835 | ||||||
| Pool #FS1694 4.000% 7/01/35 | 109,953 | 109,178 | ||||||
| Pool #FS1883 4.000% 6/01/37 | 124,144 | 121,950 | ||||||
| Pool #BF0198 4.000% 11/01/40 | 90,583 | 86,969 | ||||||
| Pool #MA0639 4.000% 2/01/41 | 292,684 | 283,524 | ||||||
| Pool #BM3385 4.000% 6/01/45 | 480,546 | 463,018 | ||||||
| Pool #FS1042 4.000% 9/01/45 | 475,250 | 460,135 | ||||||
| Pool #FM2673 4.000% 10/01/45 | 721,416 | 698,127 | ||||||
| Pool #AL8387 4.000% 3/01/46 | 518,039 | 499,143 | ||||||
| Pool #FS2119 4.000% 3/01/46 | 84,098 | 81,416 | ||||||
| Pool #MA3088 4.000% 8/01/47 | 27,945 | 26,891 | ||||||
| Pool #MA3121 4.000% 9/01/47 | 257,340 | 247,632 | ||||||
| Pool #MA3467 4.000% 9/01/48 | 3,577 | 3,439 | ||||||
| Pool #BM5527 4.000% 10/01/48 | 88,425 | 85,144 | ||||||
| Pool #BM5147 4.000% 10/01/48 | 21,877 | 21,188 | ||||||
| Pool #FM3664 4.000% 3/01/49 | 339,262 | 326,146 | ||||||
| Pool #CA3503 4.000% 5/01/49 | 46,087 | 44,248 | ||||||
| Pool #CA4571 4.000% 11/01/49 | 73,652 | 70,620 | ||||||
| Pool #CA4823 4.000% 12/01/49 | 95,880 | 91,934 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #FS1792 4.000% 5/01/52 | $ | 202,506 | $ | 192,209 | ||||
| Pool #CB4379 4.000% 8/01/52 | 203,663 | 192,654 | ||||||
| Pool #MA4700 4.000% 8/01/52 | 55,655 | 52,699 | ||||||
| Pool #MA4732 4.000% 9/01/52 | 262,818 | 248,858 | ||||||
| Pool #FS5635 4.000% 11/01/52 | 687,948 | 651,192 | ||||||
| Pool #AL0065 4.500% 4/01/41 | 169,802 | 169,517 | ||||||
| Pool #AI1888 4.500% 5/01/41 | 185,807 | 185,488 | ||||||
| Pool #AL0160 4.500% 5/01/41 | 243,665 | 243,267 | ||||||
| Pool #AL6536 4.500% 3/01/45 | 258,119 | 257,666 | ||||||
| Pool #BM4185 4.500% 9/01/46 | 135,929 | 135,520 | ||||||
| Pool #FM2899 4.500% 11/01/46 | 311,181 | 310,686 | ||||||
| Pool #FM5708 4.500% 5/01/47 | 153,912 | 153,646 | ||||||
| Pool #BM3148 4.500% 11/01/47 | 127,633 | 126,731 | ||||||
| Pool #BM4343 4.500% 5/01/48 | 126,658 | 125,763 | ||||||
| Pool #CA2207 4.500% 8/01/48 | 27,492 | 27,117 | ||||||
| Pool #CA5186 4.500% 1/01/50 | 24,664 | 24,220 | ||||||
| Pool #CA5696 4.500% 5/01/50 | 64,207 | 62,480 | ||||||
| Pool #FS4297 4.500% 2/01/51 | 217,048 | 214,022 | ||||||
| Pool #MA4656 4.500% 7/01/52 | 76,103 | 73,901 | ||||||
| Pool #MA4701 4.500% 8/01/52 | 564,605 | 548,087 | ||||||
| Pool #MA4805 4.500% 11/01/52 | 201,429 | 195,457 | ||||||
| Pool #FS5865 4.500% 1/01/53 | 1,374,774 | 1,334,017 | ||||||
| Pool #AD6438 5.000% 6/01/40 | 42,503 | 43,348 | ||||||
| Pool #FM8543 5.000% 11/01/44 | 179,792 | 183,392 | ||||||
| Pool #AL9893 5.000% 2/01/45 | 234,868 | 239,720 | ||||||
| Pool #FM4212 5.000% 12/01/47 | 360,416 | 366,104 | ||||||
| Pool #FS1510 5.000% 10/01/48 | 273,393 | 278,616 | ||||||
| Pool #FS2620 5.000% 8/01/52 | 43,994 | 43,666 | ||||||
| Pool #BW7752 5.000% 10/01/52 | 98,405 | 97,547 | ||||||
| Pool #BY4131 5.000% 7/01/53 | 154,256 | 152,670 | ||||||
| Pool #CB7095 5.000% 9/01/53 | 318,842 | 315,864 | ||||||
| Pool #BM3279 5.500% 5/01/44 | 552,122 | 567,430 | ||||||
| Pool #MA4941 5.500% 3/01/53 | 255,557 | 257,011 | ||||||
| Pool #CB7333 5.500% 10/01/53 | 317,842 | 319,750 | ||||||
| Pool #BM4971 6.000% 7/01/41 | 163,887 | 170,835 | ||||||
| Pool #MA4876 6.000% 12/01/52 | 595,571 | 605,396 | ||||||
| Pool #FS3820 6.000% 1/01/53 | 728,625 | 751,346 | ||||||
| Pool #CB5702 6.000% 2/01/53 | 789,655 | 814,279 | ||||||
| Pool #CB7120 6.000% 9/01/53 | 256,389 | 261,020 | ||||||
| Pool #FS6347 6.500% 11/01/53 (i) | 699,250 | 718,879 | ||||||
| Government National Mortgage Association | ||||||||
| Pool #AA5821 3.000% 11/15/42 | 36,534 | 33,573 | ||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA7736 1.500% 12/20/36 | 64,228 | 55,923 | ||||||
| Pool #MA7796 1.500% 1/20/37 | 83,539 | 72,738 | ||||||
| Pool #MA7851 1.500% 2/20/37 | 162,030 | 141,081 | ||||||
| Pool #MA8015 1.500% 5/20/37 | 141,190 | 122,670 | ||||||
| Pool #MA7254 2.000% 3/20/51 | 485,902 | 411,368 | ||||||
| Pool #MA7471 2.000% 7/20/51 | 1,742,856 | 1,474,696 | ||||||
| Pool #MA7533 2.000% 8/20/51 | 2,734,833 | 2,314,046 | ||||||
| Pool #MA7826 2.000% 1/20/52 | 194,654 | 164,704 | ||||||
| Pool #MA7935 2.000% 3/20/52 | 1,254,120 | 1,061,158 | ||||||
| Pool #MA6819 2.500% 8/20/50 | 294,496 | 259,117 | ||||||
| Pool #MA7589 2.500% 9/20/51 | 357,620 | 313,066 | ||||||
| Pool #MA7649 2.500% 10/20/51 | 2,293,570 | 2,007,646 | ||||||
| Pool #MA7705 2.500% 11/20/51 | 578,518 | 506,398 | ||||||
| Pool #MA7767 2.500% 12/20/51 | 1,228,777 | 1,075,594 | ||||||
| Pool #MA7936 2.500% 3/20/52 | 1,361,143 | 1,191,458 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #MA2600 3.000% 2/20/45 | $ | 71,326 | $ | 65,952 | ||||
| Pool #MA2891 3.000% 6/20/45 | 579,839 | 536,147 | ||||||
| Pool #MA3662 3.000% 5/20/46 | 92,549 | 85,286 | ||||||
| Pool #MA3802 3.000% 7/20/46 | 44,071 | 40,516 | ||||||
| Pool #MA3873 3.000% 8/20/46 | 256,575 | 235,878 | ||||||
| Pool #MA4003 3.000% 10/20/46 | 437,978 | 402,649 | ||||||
| Pool #MA4195 3.000% 1/20/47 | 311,486 | 286,165 | ||||||
| Pool #MA6144 3.000% 9/20/49 | 12,162 | 10,801 | ||||||
| Pool #MA6209 3.000% 10/20/49 | 76,667 | 67,704 | ||||||
| Pool #MA6399 3.000% 1/20/50 | 38,764 | 34,232 | ||||||
| Pool #MA6531 3.000% 3/20/50 | 127,856 | 112,908 | ||||||
| Pool #MA6589 3.000% 4/20/50 | 56,621 | 50,001 | ||||||
| Pool #MA6757 3.000% 7/20/50 | 100,896 | 89,100 | ||||||
| Pool #MA7473 3.000% 7/20/51 | 950,864 | 862,649 | ||||||
| Pool #MA7650 3.000% 10/20/51 | 1,276,976 | 1,157,308 | ||||||
| Pool #MA8098 3.000% 6/20/52 | 965,663 | 874,792 | ||||||
| Pool #MA0318 3.500% 8/20/42 | 145,039 | 138,018 | ||||||
| Pool #MA0852 3.500% 3/20/43 | 103,257 | 98,176 | ||||||
| Pool #783802 3.500% 4/20/43 | 15,791 | 14,943 | ||||||
| Pool #MA1012 3.500% 5/20/43 | 308,821 | 293,591 | ||||||
| Pool #MA1090 3.500% 6/20/43 | 122,052 | 116,007 | ||||||
| Pool #785587 3.500% 12/20/44 | 208,106 | 197,677 | ||||||
| Pool #AL1773 3.500% 1/20/45 | 153,532 | 144,728 | ||||||
| Pool #MA3173 3.500% 10/20/45 | 199,483 | 188,854 | ||||||
| Pool #MA3310 3.500% 12/20/45 | 65,802 | 62,255 | ||||||
| Pool #MA3597 3.500% 4/20/46 | 96,660 | 91,419 | ||||||
| Pool #MA3663 3.500% 5/20/46 | 75,258 | 71,107 | ||||||
| Pool #MA3736 3.500% 6/20/46 | 202,562 | 191,389 | ||||||
| Pool #MA3803 3.500% 7/20/46 | 14,590 | 13,767 | ||||||
| Pool #MA3937 3.500% 9/20/46 | 96,820 | 91,359 | ||||||
| Pool #786092 3.500% 1/20/47 | 135,837 | 128,600 | ||||||
| Pool #MA4382 3.500% 4/20/47 | 17,525 | 16,531 | ||||||
| Pool #MA4586 3.500% 7/20/47 | 33,184 | 31,291 | ||||||
| Pool #784346 3.500% 7/20/47 | 22,555 | 21,149 | ||||||
| Pool #MA4719 3.500% 9/20/47 | 11,627 | 10,964 | ||||||
| Pool #BC1919 3.500% 9/20/47 | 44,899 | 41,988 | ||||||
| Pool #MA4900 3.500% 12/20/47 | 159,143 | 149,967 | ||||||
| Pool #784793 3.500% 12/20/47 | 5,932 | 5,562 | ||||||
| Pool #785087 3.500% 2/20/48 | 530,404 | 500,485 | ||||||
| Pool #784472 3.500% 2/20/48 | 265,885 | 248,643 | ||||||
| Pool #785327 3.500% 10/20/49 | 60,571 | 56,904 | ||||||
| Pool #MA8149 3.500% 7/20/52 | 188,909 | 175,936 | ||||||
| Pool #MA3245 4.000% 11/20/45 | 141,908 | 138,190 | ||||||
| Pool #MA4511 4.000% 6/20/47 | 86,786 | 84,268 | ||||||
| Pool #MA4720 4.000% 9/20/47 | 306,375 | 297,486 | ||||||
| Pool #MA4838 4.000% 11/20/47 | 76,428 | 74,210 | ||||||
| Pool #MA6934 4.000% 10/20/50 | 734,061 | 704,563 | ||||||
| Pool #MA8346 4.000% 10/20/52 | 1,551,525 | 1,481,178 | ||||||
| Pool #005234 4.500% 11/20/41 | 122,313 | 122,045 | ||||||
| Pool #MA2894 4.500% 6/20/45 | 132,356 | 132,045 | ||||||
| Pool #MA2963 4.500% 7/20/45 | 49,410 | 49,294 | ||||||
| Pool #MA3312 4.500% 12/20/45 | 2,396 | 2,391 | ||||||
| Pool #MA4588 4.500% 7/20/47 | 230,250 | 229,133 | ||||||
| Pool #MA4654 4.500% 8/20/47 | 36,123 | 35,948 | ||||||
| Pool #MA5079 4.500% 3/20/48 | 54,199 | 53,817 | ||||||
| Pool #MA5265 4.500% 6/20/48 | 188 | 186 | ||||||
| Pool #MA5399 4.500% 8/20/48 | 45,976 | 45,351 | ||||||
| Pool #MA5711 4.500% 1/20/49 | 74,269 | 73,190 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Pool #786255 4.500% 9/20/49 | $ | 66,043 | $ | 65,268 | ||||
| Pool #MA8347 4.500% 10/20/52 | 1,219,655 | 1,191,253 | ||||||
| Pool #MA8799 4.500% 4/20/53 | 279,048 | 272,353 | ||||||
| Pool #MA4781 5.000% 10/20/47 | 247,986 | 251,972 | ||||||
| Pool #MA5194 5.000% 5/20/48 | 50,810 | 51,182 | ||||||
| Pool #BF2644 5.000% 5/20/48 | 4,562 | 4,588 | ||||||
| Pool #MA5266 5.000% 6/20/48 | 356,585 | 358,528 | ||||||
| Pool #BF2878 5.000% 6/20/48 | 15,421 | 15,510 | ||||||
| Pool #MA5988 5.000% 6/20/49 | 150,976 | 151,563 | ||||||
| Pool #MA6042 5.000% 7/20/49 | 203,822 | 204,933 | ||||||
| Pool #MA5081 5.500% 3/20/48 | 38,652 | 39,948 | ||||||
| Pool #MA5140 5.500% 4/20/48 | 29,744 | 30,742 | ||||||
| Pool #MA5195 5.500% 5/20/48 | 89,825 | 92,753 | ||||||
| Pool #MA5469 5.500% 9/20/48 | 352 | 363 | ||||||
| Pool #MA5531 5.500% 10/20/48 | 8,167 | 8,357 | ||||||
| Pool #MA5598 5.500% 11/20/48 | 40,431 | 41,471 | ||||||
| Pool #MA5654 5.500% 12/20/48 | 108,855 | 111,383 | ||||||
| Pool #MA5713 5.500% 1/20/49 | 27,907 | 28,407 | ||||||
| Pool #MA5820 5.500% 3/20/49 | 29,921 | 30,691 | ||||||
| Government National Mortgage Association II, TBA | ||||||||
| 5.000% 1/20/54 (i) | 870,000 | 864,717 | ||||||
| 5.500% 1/20/54 (i) | 2,485,000 | 2,500,416 | ||||||
| 6.000% 1/20/54 (i) | 1,000,000 | 1,016,353 | ||||||
| 6.500% 1/20/54 (i) | 560,000 | 573,142 | ||||||
| Uniform Mortgage-Backed Security, TBA | ||||||||
| 3.500% 1/01/54 (i) | 955,000 | 876,660 | ||||||
| 5.000% 1/01/54 (i) | 1,380,000 | 1,366,199 | ||||||
| 5.500% 1/01/54 (i) | 610,000 | 613,003 | ||||||
| 6.000% 1/01/54 (i) | 495,000 | 502,889 | ||||||
| 6.500% 1/01/54 (i) | 490,000 | 502,020 | ||||||
| 123,750,475 | ||||||||
| Whole Loans — 0.1% | ||||||||
| Federal Home Loan Mortgage Corp. STACR REMICS Trust | ||||||||
| Series 2023-HQA3, Class A1, 30 day USD SOFR Average + 1.850% 7.187% FRN 11/25/43 (b) | 198,438 | 199,554 | ||||||
| Series 2021-DNA2, Class M2, 30 day USD SOFR Average + 2.300% 7.637% FRN 8/25/33 (b) | 229,020 | 232,296 | ||||||
| Federal National Mortgage Association Connecticut Avenue Securities, Series 2017-C06, Class 1M2B, 30 day USD SOFR Average + 2.764% | ||||||||
| 8.102% FRN 2/25/30 | 206,051 | 208,542 | ||||||
| 640,392 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $130,326,881) | 124,649,859 | |||||||
| U.S. TREASURY OBLIGATIONS — 24.8% | ||||||||
| U.S. Treasury Bonds & Notes — 24.8% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 3.000% 8/15/52 | 8,900,000 | 7,294,066 | ||||||
| 3.375% 8/15/42 | 11,400,000 | 10,183,509 | ||||||
| 3.625% 2/15/53 | 7,890,000 | 7,303,181 | ||||||
| 3.625% 5/15/53 | 559,400 | 518,494 | ||||||
| 3.875% 2/15/43 | 3,020,000 | 2,885,230 | ||||||
| 4.000% 11/15/42 | 8,030,000 | 7,818,725 | ||||||
| 4.000% 11/15/52 | 5,015,000 | 4,959,365 | ||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| U.S. Treasury Inflation-Indexed Notes | ||||||||
| 1.375% 7/15/33 | $ | 9,294,088 | $ | 9,009,855 | ||||
| U.S. Treasury Notes | ||||||||
| 0.625% 12/31/27 | 12,950,000 | 11,386,895 | ||||||
| 0.625% 8/15/30 | 15,620,000 | 12,671,870 | ||||||
| 1.500% 1/31/27 | 22,645,000 | 21,025,590 | ||||||
| 2.250% 1/31/24 | 10,880,000 | 10,850,675 | ||||||
| 3.125% 8/31/27 | 2,660,000 | 2,585,603 | ||||||
| 3.875% 11/30/27 | 1,100,000 | 1,097,766 | ||||||
| 3.875% 11/30/29 | 3,420,000 | 3,415,191 | ||||||
| 4.125% 6/15/26 | 5,160,000 | 5,159,971 | ||||||
| 4.125% 9/30/27 | 5,655,000 | 5,692,553 | ||||||
| 4.125% 10/31/27 | 1,400,000 | 1,408,969 | ||||||
| 4.125% 8/31/30 | 3,725,000 | 3,773,309 | ||||||
| 4.625% 9/15/26 | 13,038,400 | 13,220,343 | ||||||
| 4.625% 10/15/26 (j) | 12,135,000 | 12,316,642 | ||||||
| 154,577,802 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $155,647,549) | 154,577,802 | |||||||
| TOTAL BONDS & NOTES (Cost $598,406,844) | 581,713,542 | |||||||
| TOTAL PURCHASED OPTIONS (#) — 0.0% (Cost $10,523) | 23,527 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $598,417,367) | 581,737,069 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 8.2% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.4% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (k) | 2,575,510 | 2,575,510 | ||||||
| Mutual Fund — 4.5% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 28,235,408 | 28,235,408 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (l) | $ | 1,443,258 | 1,443,258 | |||||
| Sovereign Debt Obligations — 0.8% | ||||||||
| Japan Treasury Discount Bills, 0.000%, due 3/25/24 JPY (c) | 619,100,000 | 4,392,478 | ||||||
| Sri Lanka Treasury Bills, 0.000%, due 4/05/24 LKR (c) | 60,000,000 | 178,640 | ||||||
| U.S. Treasury Bill — 2.3% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.340% 2/29/24 (m) | 3,640,000 | 3,609,079 | ||||||
| 5.356% 1/16/24 (m) | 4,638,000 | 4,628,510 | ||||||
| 5.377% 1/16/24 (m) | 6,121,000 | 6,108,476 | ||||||
| 14,346,065 | ||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $51,126,094) | 51,171,359 | |||||||
| MassMutual Select T. Rowe Price Bond Asset Fund — Portfolio of Investments (Continued) |
| Value | ||||||||
| TOTAL INVESTMENTS — 101.6% (Cost $649,543,461) (n) | $ | 632,908,428 | ||||||
| Other Assets/(Liabilities) — (1.6)% | (9,804,013) | |||||||
| NET ASSETS — 100.0% | $ | 623,104,415 | ||||||
Abbreviation Legend
| CDOR | Canadian Dollar Offered Rate |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury Index |
| EURIBOR | Euro Inter-Bank Offered Rate |
| FRN | Floating Rate Note |
| ICE | Inter-Continental Exchange |
| LIBOR | London InterBank Offered Rate |
| OAT | Obligations Assimilables du Tresor |
| REMICS | Real Estate Mortgage Investment Conduits |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Index Average |
| 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 December 31, 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 December 31, 2023, the aggregate market value of these securities amounted to $131,675,383 or 21.13% of net assets. |
| (c) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (d) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $3,013,068 or 0.48% of net assets. The Fund received $503,252 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (e) | Security is perpetual and has no stated maturity date. |
| (f) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2023. |
| (g) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At December 31, 2023, these securities amounted to a value of $551,613 or 0.09% of net assets. |
| (h) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (i) | A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. |
| (j) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (k) | Represents investment of security lending cash collateral. (Note 2). |
| (l) | Maturity value of $1,443,514. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,472,137. |
| (m) | The rate shown represents yield-to-maturity. |
| (n) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||||||
| USD Put CAD Call | Bank of America N.A. | 2/02/24 | 1.34 | 1,530,000 | USD | 1,530,000 | $ | 23,527 | $ | 10,523 | $ | 13,004 | ||||||||||||||||||||
| Interest Rate Swaptions Written | ||||||||||||||||||||||||||||
| Paid by Fund | Received by Fund | |||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Rate | Frequency | Rate | Frequency | Notional Amount | Value | Premium Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| 5-Year Interest Rate Swap, 2/01/29 | Citibank N.A. | 1/30/24 | 6-Month EURIBOR | Semi-Annually | 2.88%## | Annually | EUR | 7,000,000 | $ | (5,539) | $ | (48,765) | $ | 43,226 | ||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 1/12/24 | USD | 1,121,936 | RON | 5,292,734 | $ | (52,575) | |||||||||
| Bank of America N.A. | 1/12/24 | USD | 77,793 | HUF | 27,575,244 | (1,593) | ||||||||||
| Bank of America N.A. | 1/12/24 | RON | 2,904,072 | USD | 630,448 | 13,995 | ||||||||||
| Bank of America N.A. | 1/12/24 | MXN | 35,429,993 | USD | 2,035,298 | 48,233 | ||||||||||
| Bank of America N.A. | 1/17/24 | TWD | 2,385,000 | USD | 76,473 | 1,370 | ||||||||||
| Bank of America N.A. | 1/19/24 | USD | 729,678 | CAD | 1,005,000 | (28,972) | ||||||||||
| Bank of America N.A. | 1/19/24 | NZD | 1,850,000 | USD | 1,110,757 | 58,776 | ||||||||||
| Bank of America N.A. | 1/19/24 | JPY | 490,040,000 | USD | 3,306,151 | 176,961 | ||||||||||
| Bank of America N.A. | 1/19/24 | CAD | 6,015,000 | USD | 4,436,616 | 103,963 | ||||||||||
| Bank of America N.A. | 1/19/24 | USD | 907,320 | AUD | 1,334,000 | (2,203) | ||||||||||
| Bank of America N.A. | 2/23/24 | USD | 2,879,934 | EUR | 2,626,000 | (24,862) | ||||||||||
| Bank of America N.A. | 3/08/24 | USD | 1,456,155 | MYR | 6,734,718 | (15,807) | ||||||||||
| Barclays Bank PLC | 1/10/24 | TRY | 6,887,000 | USD | 227,549 | 4,576 | ||||||||||
| Barclays Bank PLC | 1/12/24 | RON | 1,136,909 | USD | 248,314 | 3,977 | ||||||||||
| Barclays Bank PLC | 1/17/24 | TWD | 21,348,574 | USD | 687,223 | 9,563 | ||||||||||
| Barclays Bank PLC | 1/17/24 | USD | 389,841 | IDR | 6,087,947,897 | (5,505) | ||||||||||
| Barclays Bank PLC | 1/17/24 | KRW | 1,563,641,000 | USD | 1,180,311 | 34,801 | ||||||||||
| Barclays Bank PLC | 1/18/24 | ILS | 4,274,898 | USD | 1,127,954 | 53,063 | ||||||||||
| Barclays Bank PLC | 1/19/24 | JPY | 98,155,000 | USD | 669,973 | 27,695 | ||||||||||
| Barclays Bank PLC | 2/23/24 | EUR | 818,062 | USD | 893,384 | 11,528 | ||||||||||
| Barclays Bank PLC | 2/23/24 | USD | 4,852,000 | GBP | 3,890,124 | (107,879) | ||||||||||
| Barclays Bank PLC | 3/15/24 | USD | 2,010,614 | CNH | 14,303,768 | (6,714) | ||||||||||
| Barclays Bank PLC | 4/03/24 | USD | 694,150 | TWD | 21,348,574 | (9,020) | ||||||||||
| BNP Paribas SA | 1/12/24 | USD | 584,409 | ZAR | 11,454,250 | (41,299) | ||||||||||
| BNP Paribas SA | 1/12/24 | RON | 283,813 | USD | 60,117 | 2,864 | ||||||||||
| BNP Paribas SA | 1/12/24 | CZK | 19,283,637 | USD | 836,022 | 26,020 | ||||||||||
| BNP Paribas SA | 1/17/24 | USD | 629,296 | PEN | 2,409,188 | (21,678) | ||||||||||
| BNP Paribas SA | 1/19/24 | USD | 6,767,920 | JPY | 996,036,341 | (311,718) | ||||||||||
| BNP Paribas SA | 1/19/24 | NZD | 189,000 | USD | 110,009 | 9,473 | ||||||||||
| BNP Paribas SA | 1/19/24 | AUD | 252,680 | USD | 163,209 | 9,068 | ||||||||||
| BNP Paribas SA | 1/19/24 | USD | 879,879 | CAD | 1,166,000 | (306) | ||||||||||
| BNP Paribas SA | 2/23/24 | EUR | 487,024 | USD | 532,220 | 6,510 | ||||||||||
| BNP Paribas SA | 2/23/24 | USD | 1,665,503 | EUR | 1,504,000 | 1,827 | ||||||||||
| Citibank N.A. | 1/10/24 | TRY | 6,833,000 | USD | 228,907 | 1,397 | ||||||||||
| Citibank N.A. | 1/12/24 | RON | 1,678,823 | USD | 371,887 | 660 | ||||||||||
| Citibank N.A. | 1/12/24 | USD | 739,602 | RON | 3,391,000 | (12,895) | ||||||||||
| Citibank N.A. | 1/12/24 | USD | 409,467 | CZK | 9,143,000 | 745 | ||||||||||
| Citibank N.A. | 1/17/24 | USD | 1,120,878 | KRW | 1,486,195,000 | (34,050) | ||||||||||
| Citibank N.A. | 1/17/24 | USD | 840,472 | TWD | 26,963,192 | (39,566) | ||||||||||
| Citibank N.A. | 1/18/24 | USD | 2,031,958 | ILS | 8,126,818 | (213,220) | ||||||||||
| Citibank N.A. | 1/18/24 | ILS | 2,060,889 | USD | 510,778 | 58,579 | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 2,008,766 | AUD | 3,153,144 | (141,053) | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 4,825,890 | CAD | 6,578,843 | (140,321) | ||||||||||
| Citibank N.A. | 1/19/24 | AUD | 3,475,000 | USD | 2,223,479 | 145,782 | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 1,307,357 | NZD | 2,199,372 | (83,042) | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 1,946,314 | JPY | 283,079,237 | (65,759) | ||||||||||
| Citibank N.A. | 1/19/24 | JPY | 26,610,000 | USD | 188,432 | 707 | ||||||||||
| Citibank N.A. | 2/16/24 | PLN | 1,618,000 | USD | 402,723 | 8,255 | ||||||||||
| Citibank N.A. | 2/23/24 | EUR | 430,896 | USD | 468,090 | 8,553 | ||||||||||
| Citibank N.A. | 3/15/24 | USD | 3,243,868 | SGD | 4,320,820 | (40,915) | ||||||||||
| Deutsche Bank AG | 1/12/24 | RON | 994,566 | USD | 215,227 | 5,477 | ||||||||||
| Deutsche Bank AG | 1/12/24 | USD | 206,156 | HUF | 73,459,388 | (5,324) | ||||||||||
| Deutsche Bank AG | 1/17/24 | USD | 617,819 | IDR | 9,666,401,967 | (9,908) | ||||||||||
| Deutsche Bank AG | 1/17/24 | USD | 1,108,572 | KRW | 1,481,995,000 | (43,092) | ||||||||||
| Deutsche Bank AG | 1/17/24 | KRW | 2,968,190,000 | USD | 2,279,243 | 27,350 | ||||||||||
| Deutsche Bank AG | 1/19/24 | USD | 2,191,509 | AUD | 3,475,000 | (177,752) | ||||||||||
| Deutsche Bank AG | 1/19/24 | JPY | 517,229,552 | USD | 3,493,081 | 183,289 | ||||||||||
| Deutsche Bank AG | 2/23/24 | EUR | 111,103 | USD | 121,745 | 1,154 | ||||||||||
| Deutsche Bank AG | 2/23/24 | USD | 345,919 | EUR | 317,215 | (4,973) | ||||||||||
| Deutsche Bank AG | 3/08/24 | USD | 811,293 | MYR | 3,773,000 | (13,346) | ||||||||||
| Goldman Sachs International | 1/12/24 | USD | 280,656 | HUF | 98,227,982 | (2,130) | ||||||||||
| Goldman Sachs International | 1/12/24 | CZK | 8,486,000 | USD | 369,065 | 10,286 | ||||||||||
| Goldman Sachs International | 1/12/24 | MXN | 1,504,076 | USD | 85,961 | 2,489 | ||||||||||
| Goldman Sachs International | 1/17/24 | TWD | 26,336,426 | USD | 846,994 | 12,588 | ||||||||||
| Goldman Sachs International | 1/17/24 | KRW | 1,013,407,000 | USD | 777,591 | 9,932 | ||||||||||
| Goldman Sachs International | 1/17/24 | USD | 360,271 | IDR | 5,602,051,899 | (3,521) | ||||||||||
| Goldman Sachs International | 1/17/24 | USD | 720,919 | TWD | 23,106,808 | (33,253) | ||||||||||
| Goldman Sachs International | 1/17/24 | IDR | 5,319,176,000 | USD | 338,931 | 6,492 | ||||||||||
| Goldman Sachs International | 1/17/24 | USD | 820,386 | KRW | 1,063,534,000 | (6,091) | ||||||||||
| Goldman Sachs International | 1/19/24 | USD | 1,446,880 | JPY | 213,751,955 | (72,428) | ||||||||||
| Goldman Sachs International | 3/04/24 | BRL | 1,557,000 | USD | 317,908 | 689 | ||||||||||
| Goldman Sachs International | 3/04/24 | USD | 1,436,443 | BRL | 7,080,516 | (12,389) | ||||||||||
| Goldman Sachs International | 3/08/24 | USD | 229,395 | COP | 968,367,426 | (17,287) | ||||||||||
| Goldman Sachs International | 4/03/24 | USD | 855,445 | TWD | 26,336,426 | (12,012) | ||||||||||
| HSBC Bank USA | 1/17/24 | USD | 232,852 | IDR | 3,603,383,135 | (1,149) | ||||||||||
| HSBC Bank USA | 1/17/24 | USD | 526,359 | INR | 43,924,643 | (1,257) | ||||||||||
| HSBC Bank USA | 1/19/24 | USD | 718,935 | CAD | 990,000 | (28,393) | ||||||||||
| HSBC Bank USA | 2/16/24 | PLN | 3,209,000 | USD | 800,978 | 14,119 | ||||||||||
| HSBC Bank USA | 2/23/24 | EUR | 76,346 | USD | 83,392 | 1,059 | ||||||||||
| HSBC Bank USA | 3/08/24 | THB | 29,202,713 | USD | 835,408 | 24,984 | ||||||||||
| HSBC Bank USA | 3/08/24 | USD | 1,625,968 | MYR | 7,548,884 | (23,941) | ||||||||||
| HSBC Bank USA | 3/15/24 | USD | 4,614,995 | CNH | 32,773,311 | (7,179) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/12/24 | USD | 800,199 | MXN | 14,647,483 | (61,175) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/12/24 | ZAR | 11,454,250 | USD | 597,300 | 28,408 | ||||||||||
| JP Morgan Chase Bank N.A. | 1/17/24 | USD | 744,767 | IDR | 11,718,912,852 | (16,248) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/17/24 | IDR | 13,594,591,000 | USD | 863,971 | 18,849 | ||||||||||
| JP Morgan Chase Bank N.A. | 1/19/24 | USD | 112,916 | CAD | 153,000 | (2,580) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/19/24 | USD | 3,767,590 | JPY | 550,703,045 | (146,703) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/19/24 | JPY | 646,300,000 | USD | 4,574,406 | 19,372 | ||||||||||
| JP Morgan Chase Bank N.A. | 1/19/24 | USD | 58,419 | AUD | 88,000 | (1,580) | ||||||||||
| JP Morgan Chase Bank N.A. | 2/23/24 | GBP | 236,939 | USD | 297,166 | 4,930 | ||||||||||
| JP Morgan Chase Bank N.A. | 2/23/24 | EUR | 500,319 | USD | 547,963 | 5,473 | ||||||||||
| JP Morgan Chase Bank N.A. | 3/15/24 | USD | 739,196 | CNH | 5,260,000 | (2,646) | ||||||||||
| Morgan Stanley & Co. LLC | 1/12/24 | USD | 149,665 | HUF | 52,687,000 | (2,014) | ||||||||||
| Morgan Stanley & Co. LLC | 1/17/24 | USD | 135,171 | IDR | 2,116,870,873 | (2,297) | ||||||||||
| Morgan Stanley & Co. LLC | 1/17/24 | USD | 280,338 | PEN | 1,070,750 | (8,984) | ||||||||||
| Morgan Stanley & Co. LLC | 1/17/24 | PEN | 2,931,000 | USD | 763,327 | 28,642 | ||||||||||
| Morgan Stanley & Co. LLC | 1/18/24 | ILS | 149,201 | USD | 40,244 | 976 | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | USD | 2,175,464 | CAD | 3,015,000 | (100,487) | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | USD | 2,457,499 | JPY | 366,540,526 | (147,802) | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | USD | 130,669 | AUD | 199,000 | (5,010) | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | AUD | 75,645 | USD | 47,804 | 3,771 | ||||||||||
| Morgan Stanley & Co. LLC | 1/19/24 | JPY | 45,212,182 | USD | 305,634 | 15,725 | ||||||||||
| Morgan Stanley & Co. LLC | 2/09/24 | CLP | 342,977,000 | USD | 395,825 | (7,439) | ||||||||||
| Morgan Stanley & Co. LLC | 2/23/24 | USD | 26,749 | EUR | 24,369 | (207) | ||||||||||
| Morgan Stanley & Co. LLC | 2/23/24 | USD | 4,858,769 | GBP | 3,905,062 | (120,157) | ||||||||||
| Morgan Stanley & Co. LLC | 2/23/24 | EUR | 329,607 | USD | 359,672 | 4,929 | ||||||||||
| Morgan Stanley & Co. LLC | 3/04/24 | BRL | 4,137,489 | USD | 832,979 | 13,644 | ||||||||||
| Morgan Stanley & Co. LLC | 3/08/24 | USD | 483,112 | COP | 1,967,238,861 | (18,022) | ||||||||||
| Royal Bank of Canada | 1/12/24 | USD | 2,206,315 | MXN | 40,336,952 | (165,780) | ||||||||||
| Royal Bank of Canada | 1/19/24 | CAD | 973,000 | USD | 706,098 | 28,397 | ||||||||||
| State Street Bank and Trust | 1/12/24 | MXN | 5,975,000 | USD | 344,935 | 6,436 | ||||||||||
| State Street Bank and Trust | 1/12/24 | HUF | 453,030,349 | USD | 1,216,124 | 88,090 | ||||||||||
| State Street Bank and Trust | 1/19/24 | USD | 269,361 | NOK | 2,939,186 | (20,048) | ||||||||||
| State Street Bank and Trust | 1/19/24 | USD | 14,530,533 | JPY | 2,134,031,564 | (637,760) | ||||||||||
| State Street Bank and Trust | 1/19/24 | CAD | 2,488,178 | USD | 1,834,540 | 43,726 | ||||||||||
| State Street Bank and Trust | 1/19/24 | USD | 1,407,761 | NZD | 2,325,930 | (62,646) | ||||||||||
| State Street Bank and Trust | 2/16/24 | USD | 2,458,744 | PLN | 10,217,900 | (136,639) | ||||||||||
| State Street Bank and Trust | 2/16/24 | USD | 62,943 | MXN | 1,074,000 | 140 | ||||||||||
| State Street Bank and Trust | 2/23/24 | GBP | 1,355,844 | USD | 1,714,228 | 14,464 | ||||||||||
| State Street Bank and Trust | 2/23/24 | USD | 313,880 | EUR | 289,762 | (6,645) | ||||||||||
| State Street Bank and Trust | 2/23/24 | EUR | 108,311 | USD | 118,996 | 814 | ||||||||||
| State Street Bank and Trust | 2/23/24 | USD | 61,961 | SEK | 645,509 | (2,168) | ||||||||||
| State Street Bank and Trust | 3/15/24 | USD | 63,095 | SGD | 83,000 | (4) | ||||||||||
| State Street Bank and Trust | 3/15/24 | USD | 158,708 | CNY | 1,123,000 | (760) | ||||||||||
| UBS AG | 1/12/24 | USD | 273,076 | CZK | 6,343,368 | (10,494) | ||||||||||
| UBS AG | 1/12/24 | USD | 161,290 | HUF | 56,783,211 | (2,181) | ||||||||||
| UBS AG | 1/12/24 | HUF | 109,884,000 | USD | 308,706 | 7,635 | ||||||||||
| UBS AG | 1/12/24 | RON | 1,685,552 | USD | 373,539 | 501 | ||||||||||
| UBS AG | 1/17/24 | USD | 227,556 | IDR | 3,536,617,748 | (2,109) | ||||||||||
| UBS AG | 1/17/24 | USD | 210,308 | PEN | 803,063 | (6,683) | ||||||||||
| UBS AG | 1/18/24 | ILS | 961,949 | USD | 238,236 | 27,520 | ||||||||||
| UBS AG | 1/19/24 | EUR | 717,000 | USD | 783,044 | 8,982 | ||||||||||
| UBS AG | 1/19/24 | CAD | 64,942 | USD | 47,837 | 1,187 | ||||||||||
| UBS AG | 1/19/24 | JPY | 166,805,000 | USD | 1,147,268 | 38,351 | ||||||||||
| UBS AG | 2/16/24 | USD | 502,512 | PLN | 2,089,093 | (28,125) | ||||||||||
| UBS AG | 2/16/24 | PLN | 4,844,000 | USD | 1,198,897 | 31,496 | ||||||||||
| UBS AG | 2/23/24 | USD | 57,012,583 | EUR | 52,245,012 | (779,154) | ||||||||||
| UBS AG | 2/23/24 | USD | 6,514,419 | GBP | 5,210,124 | (128,450) | ||||||||||
| UBS AG | 2/23/24 | USD | 3,167,392 | SEK | 34,106,441 | (220,955) | ||||||||||
| UBS AG | 3/08/24 | USD | 3,840,741 | THB | 134,516,720 | (122,491) | ||||||||||
| UBS AG | 3/08/24 | THB | 5,737,715 | USD | 164,175 | 4,874 | ||||||||||
| UBS AG | 3/08/24 | USD | 931,326 | COP | 3,869,347,884 | (54,351) | ||||||||||
| UBS AG | 3/15/24 | USD | 2,018,475 | CNH | 14,361,098 | (6,938) | ||||||||||
| $ | (3,337,928) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Euro-BOBL | 3/07/24 | 36 | $ | 4,673,726 | $ | 66,724 | ||||||||
| Euro-Bund | 3/07/24 | 5 | 737,444 | 19,976 | ||||||||||
| Australia 3 Year Bond | 3/15/24 | 14 | 1,009,603 | 9,830 | ||||||||||
| Canada 10 Year Bond | 3/19/24 | 10 | 897,113 | 40,059 | ||||||||||
| Korea 10 Year Bond | 3/19/24 | 51 | 4,478,212 | 95,513 | ||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 116 | 13,423,563 | 266,250 | ||||||||||
| U.S. Treasury Note 5 Year | 3/28/24 | 732 | 78,475,712 | 1,146,445 | ||||||||||
| $ | 1,644,797 | |||||||||||||
| Short | ||||||||||||||
| Euro-Buxl 30 Year Bond | 3/07/24 | 8 | $ | (1,163,643) | $ | (87,972) | ||||||||
| Japanese 10 Year Bond | 3/13/24 | 1 | (1,037,088) | (3,408) | ||||||||||
| Australia 10 Year Bond | 3/15/24 | 11 | (851,357) | (23,163) | ||||||||||
| Korea 3 Year Bond | 3/19/24 | 34 | (2,757,869) | (25,173) | ||||||||||
| U.S. Treasury Long Bond | 3/19/24 | 6 | (704,085) | (45,540) | ||||||||||
| U.S. Treasury Ultra Bond | 3/19/24 | 41 | (5,473,434) | (3,910) | ||||||||||
| UK Long Gilt | 3/26/24 | 3 | (365,779) | (26,750) | ||||||||||
| U.S. Treasury Note 2 Year | 3/28/24 | 172 | (35,246,469) | (170,750) | ||||||||||
| $ | (386,666) | |||||||||||||
| Centrally Cleared Credit Default Swaps - Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
| Lanxess AG | 1.000% | Quarterly | 12/20/28 | EUR | 220,000 | $ | 6,551 | $ | 9,765 | $ | (3,214) | |||||||||||||||||||||
| Bombardier, Inc. | 5.000% | Quarterly | 6/20/28 | USD | 390,000 | (24,355) | (15,794) | (8,561) | ||||||||||||||||||||||||
| $ | (17,804) | $ | (6,029) | $ | (11,775) | |||||||||||||||||||||||||||
| OTC Credit Default Swaps-Buy Protection | ||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Paid by Fund | Payment Frequency | Counterparty | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 4,189,000 | $ | 58,883 | $ | 111,752 | $ | (52,869) | ||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 4,900,000 | 68,877 | 131,103 | (62,226) | |||||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 2,032,000 | 28,563 | 54,372 | (25,809) | |||||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 677,000 | 9,516 | 16,373 | (6,857) | |||||||||||||||||||||||
| CMBX.NA.AAA Series 15† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 11/18/64 | USD | 585,000 | 8,223 | 14,914 | (6,691) | |||||||||||||||||||||||
| CMBX.NA.AAA Series 16† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 4/17/65 | USD | 677,000 | 11,955 | 20,139 | (8,184) | |||||||||||||||||||||||
| CMBX.NA.AAA Series 16† | 0.500% | Monthly | Morgan Stanley & Co. LLC | 4/17/65 | USD | 585,000 | 10,330 | 18,269 | (7,939) | |||||||||||||||||||||||
| $ | 196,347 | $ | 366,922 | $ | (170,575) | |||||||||||||||||||||||||||
| Centrally Cleared Credit Default Swaps - Sell Protection†† | ||||||||||||||||||||||||||||||||
| Reference Obligation/ Index | Rate Received by Fund | Payment Frequency | Termination Date | Credit Rating | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Cellnex Telecom SA | 5.000% | Quarterly | 12/20/28 | BBB-* | EUR | 220,000 | $ | 42,131 | $ | 33,780 | $ | 8,351 | ||||||||||||||||||||
| Republic of Mexico | 1.000% | Quarterly | 12/20/28 | BBB-* | USD | 1,861,000 | 9,534 | (19,306) | 28,840 | |||||||||||||||||||||||
| CDX.NA.HY Series 41† | 5.000% | Quarterly | 12/20/28 | Not Rated | USD | 3,118,500 | 181,814 | 3,048 | 178,766 | |||||||||||||||||||||||
| CDX.NA. IG Series 41† | 1.000% | Quarterly | 12/20/28 | Not Rated | USD | 44,340,000 | 840,198 | 670,104 | 170,094 | |||||||||||||||||||||||
| $ | 1,073,677 | $ | 687,626 | $ | 386,051 | |||||||||||||||||||||||||||
| OTC Credit Default Swaps-Sell Protection†† | ||||||||||||||||||||||||||||||||||||
| Reference Obligation/Index | Rate Received by Fund | Payment Frequency | Counterparty | Credit Rating | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | BB+* | 12/20/24 | USD | 151,000 | $ | 1,220 | $ | (4,578) | $ | 5,798 | |||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | BB+* | 12/20/24 | USD | 303,000 | 2,448 | (9,187) | 11,635 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | BB+* | 12/20/24 | USD | 152,000 | 1,228 | (10,490) | 11,718 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | BB+* | 12/20/29 | USD | 225,000 | 1,692 | (11,045) | 12,737 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Bank of America N.A. | BB+* | 12/20/29 | USD | 225,000 | 1,692 | (11,239) | 12,931 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | BB+* | 6/20/24 | USD | 135,000 | 560 | (8,192) | 8,752 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | BB+* | 6/20/24 | USD | 67,500 | 280 | (3,879) | 4,159 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | BB+* | 6/20/24 | USD | 67,500 | 280 | (3,879) | 4,159 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Barclays Bank PLC | BB+* | 12/20/24 | USD | 450,000 | 3,636 | (2,504) | 6,140 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | BB+* | 6/20/25 | USD | 150,000 | 1,635 | (9,034) | 10,669 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | BB+* | 6/20/25 | USD | 75,000 | 818 | (4,350) | 5,168 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Citibank N.A. | BB+* | 12/20/25 | USD | 300,000 | 4,106 | (281) | 4,387 | ||||||||||||||||||||||||||
| Barclays Bank PLC | 1.000% | Quarterly | JP Morgan Chase Bank N.A. | A+* | 6/20/24 | EUR | 100,000 | 308 | 1,278 | (970) | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Morgan Stanley & Co. LLC | BB+* | 12/20/24 | USD | 134,000 | 1,083 | (993) | 2,076 | ||||||||||||||||||||||||||
| Republic of Greece | 1.000% | Quarterly | Morgan Stanley & Co. LLC | BB+* | 6/20/25 | USD | 94,000 | 1,025 | (4,498) | 5,523 | ||||||||||||||||||||||||||
| $ | 22,011 | $ | (82,871) | $ | 104,882 | |||||||||||||||||||||||||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.562% | Quarterly | 5/15/28 | CNY | 1,009,000 | $ | 2,101 | $ | — | $ | 2,101 | ||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.579% | Quarterly | 5/15/28 | CNY | 4,373,000 | 9,554 | — | 9,554 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.568% | Quarterly | 5/16/28 | CNY | 3,429,000 | 7,273 | — | 7,273 | |||||||||||||||||||||||
| 3-Month CNREPOFIX=CFXS-Reuters | Quarterly | Fixed 2.476% | Quarterly | 6/01/28 | CNY | 20,850,000 | 30,576 | — | 30,576 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed (0.144)% | Annually | 10/20/25 | EUR | 690,000 | (40,461) | — | (40,461) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed (0.090)% | Annually | 11/04/25 | EUR | 1,030,000 | (60,087) | — | (60,087) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 3.366% | Annually | 9/21/28 | EUR | 4,965,000 | 223,335 | — | 223,335 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 3.479% | Annually | 10/05/28 | EUR | 3,580,000 | 181,695 | — | 181,695 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 3.049% | Annually | 11/20/28 | EUR | 25,702,000 | 781,656 | — | 781,656 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.678% | Annually | 12/14/28 | EUR | 25,425,000 | 309,182 | — | 309,182 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.638% | Annually | 12/16/29 | EUR | 1,275,000 | 15,856 | — | 15,856 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 0.830% | Annually | 3/02/32 | EUR | 800,000 | (105,941) | — | (105,941) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.222% | Annually | 4/04/32 | EUR | 1,350,000 | (137,763) | — | (137,763) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.627% | Annually | 4/21/32 | EUR | 946,000 | (65,473) | — | (65,473) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 1.640% | Annually | 5/02/32 | EUR | 950,000 | (64,925) | — | (64,925) | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.796% | Annually | 11/17/32 | EUR | 82,000 | 2,318 | — | 2,318 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.803% | Annually | 11/18/32 | EUR | 140,000 | 4,037 | — | 4,037 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.735% | Annually | 11/21/32 | EUR | 131,000 | 2,998 | — | 2,998 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.730% | Annually | 11/23/32 | EUR | 2,400,000 | 53,814 | — | 53,814 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.717% | Annually | 11/24/32 | EUR | 200,000 | 4,257 | — | 4,257 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.683% | Annually | 11/30/32 | EUR | 126,000 | 2,324 | — | 2,324 | |||||||||||||||||||||||
| 6-Month EURIBOR | Semi-Annually | Fixed 2.698% | Annually | 11/30/32 | EUR | 54,000 | 1,065 | — | 1,065 | |||||||||||||||||||||||
| Fixed 2.953% | Annually | 6-Month EURIBOR | Semi-Annually | 9/21/53 | EUR | 1,850,000 | (265,427) | — | (265,427) | |||||||||||||||||||||||
| Fixed 2.843% | Annually | 6-Month EURIBOR | Semi-Annually | 11/20/53 | EUR | 5,510,000 | (654,533) | — | (654,533) | |||||||||||||||||||||||
| Fixed 2.469% | Annually | 6-Month EURIBOR | Semi-Annually | 12/14/53 | EUR | 4,955,000 | (157,218) | — | (157,218) | |||||||||||||||||||||||
| GBP-SONIA-COMPOUND | Annually | Fixed 3.955% | Annually | 1/25/25 | GBP | 5,277,000 | (49,333) | — | (49,333) | |||||||||||||||||||||||
| Fixed 0.418% | Annually | JPY-TONAR | Annually | 8/10/28 | JPY | 1,575,000,000 | 7,611 | — | 7,611 | |||||||||||||||||||||||
| 28 Day-MXN-TIIE | Monthly | Fixed 5.499% | Monthly | 5/04/27 | MXN | 15,000,000 | (87,897) | — | (87,897) | |||||||||||||||||||||||
| Fixed 3.090% | Annually | 6-Month WIBOR | Semi-Annually | 2/20/28 | PLN | 1,070,000 | 13,866 | — | 13,866 | |||||||||||||||||||||||
| Fixed 2.850% | Annually | 6-Month WIBOR | Semi-Annually | 4/06/28 | PLN | 100,000 | 1,510 | — | 1,510 | |||||||||||||||||||||||
| Fixed 2.920% | Annually | 6-Month WIBOR | Semi-Annually | 5/07/28 | PLN | 200,000 | 2,917 | — | 2,917 | |||||||||||||||||||||||
| Fixed 3.030% | Annually | 6-Month WIBOR | Semi-Annually | 5/18/28 | PLN | 300,000 | 4,140 | — | 4,140 | |||||||||||||||||||||||
| Fixed 5.010% | Annually | 6-Month WIBOR | Semi-Annually | 6/30/28 | PLN | 4,150,000 | (24,219) | — | (24,219) | |||||||||||||||||||||||
| Fixed 5.010% | Annually | 6-Month WIBOR | Semi-Annually | 6/30/28 | PLN | 4,150,000 | (24,219) | — | (24,219) | |||||||||||||||||||||||
| 6-Month WIBOR | Semi-Annually | Fixed 4.685% | Annually | 11/17/28 | PLN | 1,038,000 | 3,165 | — | 3,165 | |||||||||||||||||||||||
| 6-Month WIBOR | Semi-Annually | Fixed 4.550% | Annually | 11/21/28 | PLN | 1,027,000 | 1,628 | — | 1,628 | |||||||||||||||||||||||
| Fixed 1.715% | Annually | 6-Month WIBOR | Semi-Annually | 9/24/29 | PLN | 1,700,000 | 57,105 | — | 57,105 | |||||||||||||||||||||||
| Fixed 1.780% | Annually | 6-Month WIBOR | Semi-Annually | 10/22/29 | PLN | 823,529 | 27,236 | — | 27,236 | |||||||||||||||||||||||
| Fixed 1.775% | Annually | 6-Month WIBOR | Semi-Annually | 10/22/29 | PLN | 1,176,471 | 38,984 | — | 38,984 | |||||||||||||||||||||||
| $ | 52,707 | $ | — | $ | 52,707 | |||||||||||||||||||||||||||
| * | Rating represents a weighted average of the ratings of all securities included in the underlying index for the credit default swap. Ratings used in the weighted average are from Moody’s Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, whichever is the highest for each constituent. All ratings are as of the report date and do not reflect subsequent changes. |
| ## | Exercise Rate. |
| † | Payment is based on a percentage of the index. Reference entities are a number of individual issuers comprising the index. |
| †† | For each credit derivative with sold protection, the credit ratings of the entities referenced, as rated by any rating organization, are included in the equivalent S&P Global Ratings or Western Asset Management Company's rating category, as applicable. The reference entity rating represents the likelihood of a potential payment by the Fund if the referenced entity experiences a credit event as of period end. Notional amounts represent the maximum potential amount of future payments (undiscounted) the Fund could be required to make under the credit derivatives with sold protection. |
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CLP | Chilean Peso |
| CNH | Offshore Chinese Yuan |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| LKR | Sri Lanka Rupee |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian New Sol |
| PLN | Polish Zloty |
| RON | New Romanian Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TRY | New Turkish Lira |
| TWD | Taiwan Dollar |
| USD | U.S. Dollar |
| ZAR | South African Rand |
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 95.3% | ||||||||
| CORPORATE DEBT — 27.0% | ||||||||
| Brazil — 1.4% | ||||||||
| Braskem Netherlands Finance BV | ||||||||
| 7.250% 2/13/33 (a) | $ | 200,000 | $ | 168,417 | ||||
| 8.500% 1/12/31 (a) | 200,000 | 186,000 | ||||||
| Cosan Overseas Ltd. | ||||||||
| 8.250% (a) (b) | 100,000 | 99,577 | ||||||
| Globo Comunicacao e Participacoes SA | ||||||||
| 4.875% 1/22/30 (a) | 650,000 | 560,929 | ||||||
| 5.500% 1/14/32 (a) | 200,000 | 171,735 | ||||||
| 1,186,658 | ||||||||
| Chile — 3.0% | ||||||||
| AES Andes SA 5 yr. USD Swap + 4.644% | ||||||||
| 7.125% VRN 3/26/79 (a) | 650,000 | 624,325 | ||||||
| Agrosuper SA | ||||||||
| 4.600% 1/20/32 (a) | 200,000 | 171,451 | ||||||
| Banco Santander Chile | ||||||||
| 3.177% 10/26/31 (a) | 375,000 | 324,116 | ||||||
| Celulosa Arauco y Constitucion SA | ||||||||
| 4.200% 1/29/30 (a) (c) | 200,000 | 184,781 | ||||||
| 5.150% 1/29/50 (a) | 250,000 | 206,281 | ||||||
| Corp. Nacional del Cobre de Chile | ||||||||
| 3.150% 1/14/30 (a) | 200,000 | 178,150 | ||||||
| 5.125% 2/02/33 (a) | 200,000 | 193,437 | ||||||
| Empresa de los Ferrocarriles del Estado | ||||||||
| 3.068% 8/18/50 (a) | 450,000 | 272,385 | ||||||
| Empresa de Transporte de Pasajeros Metro SA | ||||||||
| 3.693% 9/13/61 (a) | 200,000 | 133,850 | ||||||
| 4.700% 5/07/50 (a) | 200,000 | 164,966 | ||||||
| 2,453,742 | ||||||||
| China — 0.2% | ||||||||
| Lenovo Group Ltd. | ||||||||
| 3.421% 11/02/30 (a) | 200,000 | 176,581 | ||||||
| Colombia — 1.1% | ||||||||
| Banco Davivienda SA 10 yr. CMT + 5.097% | ||||||||
| 6.650% VRN (a) (b) | 200,000 | 142,250 | ||||||
| Banco de Bogota SA | ||||||||
| 6.250% 5/12/26 (a) | 250,000 | 246,740 | ||||||
| Bancolombia SA 5 yr. CMT + 2.944% | ||||||||
| 4.625% VRN 12/18/29 | 200,000 | 185,315 | ||||||
| Ecopetrol SA | ||||||||
| 4.625% 11/02/31 | 205,000 | 173,912 | ||||||
| 6.875% 4/29/30 | 50,000 | 49,549 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 8.875% 1/13/33 | $ | 100,000 | $ | 108,648 | ||||
| 906,414 | ||||||||
| Ghana — 0.2% | ||||||||
| Kosmos Energy Ltd. | ||||||||
| 7.125% 4/04/26 (a) | 200,000 | 189,906 | ||||||
| India — 0.7% | ||||||||
| Greenko Power II Ltd. | ||||||||
| 4.300% 12/13/28 (a) | 234,000 | 210,658 | ||||||
| Reliance Industries Ltd. | ||||||||
| 2.875% 1/12/32 (a) | 400,000 | 342,634 | ||||||
| 553,292 | ||||||||
| Indonesia — 1.5% | ||||||||
| Bank Negara Indonesia Persero Tbk. PT | ||||||||
| 3.750% 3/30/26 (a) | 213,000 | 202,552 | ||||||
| Minejesa Capital BV | ||||||||
| 5.625% 8/10/37 (a) | 500,000 | 437,500 | ||||||
| Pertamina Persero PT | ||||||||
| 5.625% 5/20/43 (a) | 200,000 | 202,024 | ||||||
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | ||||||||
| 4.000% 6/30/50 (a) | 200,000 | 154,920 | ||||||
| 6.150% 5/21/48 (a) | 200,000 | 205,180 | ||||||
| 1,202,176 | ||||||||
| Israel — 1.1% | ||||||||
| ICL Group Ltd. | ||||||||
| 6.375% 5/31/38 (a) | 150,000 | 142,149 | ||||||
| ICL Group Ltd. | ||||||||
| 6.375% 5/31/38 (a) | 200,000 | 189,531 | ||||||
| Israel Electric Corp. Ltd. | ||||||||
| 5.000% 11/12/24 (a) | 275,000 | 270,796 | ||||||
| Leviathan Bond Ltd. | ||||||||
| 6.125% 6/30/25 (a) | 330,000 | 319,275 | ||||||
| 921,751 | ||||||||
| Jamaica — 0.2% | ||||||||
| TransJamaican Highway Ltd. | ||||||||
| 5.750% 10/10/36 (a) | 137,822 | 120,594 | ||||||
| Kazakhstan — 0.5% | ||||||||
| KazMunayGas National Co. JSC | ||||||||
| 3.500% 4/14/33 (a) | 200,000 | 165,903 | ||||||
| 6.375% 10/24/48 (a) | 230,000 | 215,924 | ||||||
| 381,827 | ||||||||
| Kuwait — 0.3% | ||||||||
| MEGlobal Canada ULC | ||||||||
| 5.875% 5/18/30 (a) | 200,000 | 205,365 | ||||||
| Mexico — 6.1% | ||||||||
| Banco Mercantil del Norte SA 10 yr. CMT + 7.760% | ||||||||
| 8.375% VRN (a) (b) | 200,000 | 196,776 | ||||||
| BBVA Bancomer SA | ||||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 5 yr. CMT + 2.650% 5.125% VRN 1/18/33 (a) | $ | 375,000 | $ | 339,741 | ||||
| 5 yr. CMT + 4.308% 5.875% VRN 9/13/34 (a) (c) | 200,000 | 188,386 | ||||||
| 5 yr. CMT + 4.661% 8.450% VRN 6/29/38 (a) | 425,000 | 453,080 | ||||||
| Cemex SAB de CV | ||||||||
| 5.450% 11/19/29 (a) (c) | 200,000 | 197,217 | ||||||
| Cometa Energia SA de CV | ||||||||
| 6.375% 4/24/35 (a) | 160,400 | 155,606 | ||||||
| Industrias Penoles SAB de CV | ||||||||
| 4.750% 8/06/50 (a) | 200,000 | 161,228 | ||||||
| Infraestructura Energetica Nova SAPI de CV | ||||||||
| 4.875% 1/14/48 (a) | 300,000 | 235,890 | ||||||
| Petroleos Mexicanos | ||||||||
| 4.500% 1/23/26 | 500,000 | 467,816 | ||||||
| 5.950% 1/28/31 | 175,000 | 139,737 | ||||||
| 6.500% 3/13/27 | 850,000 | 792,311 | ||||||
| 6.500% 6/02/41 | 1,210,000 | 825,118 | ||||||
| 6.840% 1/23/30 | 55,000 | 47,677 | ||||||
| 8.750% 6/02/29 | 655,000 | 636,785 | ||||||
| 10.000% 2/07/33 (c) | 260,000 | 261,054 | ||||||
| 5,098,422 | ||||||||
| Oman — 0.6% | ||||||||
| Lamar Funding Ltd. | ||||||||
| 3.958% 5/07/25 (a) | 500,000 | 486,455 | ||||||
| Panama — 0.7% | ||||||||
| Aeropuerto Internacional de Tocumen SA | ||||||||
| 4.000% 8/11/41 (a) | 200,000 | 150,140 | ||||||
| Banco General SA 10 yr. CMT + 3.665% | ||||||||
| 5.250% VRN (a) (b) | 200,000 | 171,000 | ||||||
| Banco Nacional de Panama | ||||||||
| 2.500% 8/11/30 (a) | 310,000 | 229,183 | ||||||
| 550,323 | ||||||||
| Paraguay — 0.2% | ||||||||
| Telefonica Celular del Paraguay SA | ||||||||
| 5.875% 4/15/27 (a) | 200,000 | 194,840 | ||||||
| Peru — 0.3% | ||||||||
| Consorcio Transmantaro SA | ||||||||
| 4.700% 4/16/34 (a) | 200,000 | 189,132 | ||||||
| Lima Metro Line 2 Finance Ltd. | ||||||||
| 5.875% 7/05/34 (a) | 88,848 | 87,712 | ||||||
| 276,844 | ||||||||
| Philippines — 0.9% | ||||||||
| Globe Telecom, Inc. | ||||||||
| 3.000% 7/23/35 (a) | 400,000 | 297,589 | ||||||
| International Container Terminal Services, Inc. | ||||||||
| 4.750% 6/17/30 (a) | 200,000 | 194,003 | ||||||
| Manila Water Co., Inc. | ||||||||
| 4.375% 7/30/30 (a) | 300,000 | 270,891 | ||||||
| 762,483 | ||||||||
| Qatar — 0.7% | ||||||||
| QatarEnergy | ||||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 2.250% 7/12/31 (a) | $ | 300,000 | $ | 255,087 | ||||
| 3.125% 7/12/41 (a) | 450,000 | 345,387 | ||||||
| 600,474 | ||||||||
| Republic of Korea — 0.3% | ||||||||
| POSCO | ||||||||
| 5.750% 1/17/28 (a) (c) | 200,000 | 205,252 | ||||||
| Romania — 0.4% | ||||||||
| Banca Transilvania SA 1 yr. EURIBOR ICE Swap + 5.580% | ||||||||
| 8.875% VRN 4/27/27 EUR (a) (d) | 280,000 | 324,969 | ||||||
| Saudi Arabia — 1.6% | ||||||||
| Gaci First Investment Co. | ||||||||
| 5.125% 2/14/53 (a) | 450,000 | 407,147 | ||||||
| Saudi Arabian Oil Co. | ||||||||
| 3.500% 4/16/29 (a) | 200,000 | 189,194 | ||||||
| 4.250% 4/16/39 (a) | 800,000 | 714,842 | ||||||
| 1,311,183 | ||||||||
| Slovenia — 0.4% | ||||||||
| Nova Kreditna Banka Maribor DD 3 mo. EURIBOR + 3.496% | ||||||||
| 7.375% VRN 6/29/26 EUR (a) (d) | 300,000 | 341,452 | ||||||
| South Africa — 0.2% | ||||||||
| Transnet SOC Ltd. | ||||||||
| 8.250% 2/06/28 (a) (c) | 200,000 | 201,260 | ||||||
| Tanzania, United Republic Of — 0.2% | ||||||||
| HTA Group Ltd. | ||||||||
| 7.000% 12/18/25 (a) | 200,000 | 196,374 | ||||||
| Thailand — 0.7% | ||||||||
| Bangkok Bank PCL 5 yr. CMT + 2.150% | ||||||||
| 3.466% VRN 9/23/36 (a) | 200,000 | 167,757 | ||||||
| Thaioil Treasury Center Co. Ltd. | ||||||||
| 3.500% 10/17/49 (a) | 425,000 | 285,863 | ||||||
| 3.500% 10/17/49 (a) | 200,000 | 134,523 | ||||||
| 588,143 | ||||||||
| United Arab Emirates — 0.8% | ||||||||
| DP World Crescent Ltd. | ||||||||
| 3.875% 7/18/29 (a) | 300,000 | 283,905 | ||||||
| Emirates NBD Bank PJSC 6 yr. CMT + 3.656% | ||||||||
| 6.125% VRN (a) (b) | 200,000 | 198,536 | ||||||
| Ruwais Power Co. PJSC | ||||||||
| 6.000% 8/31/36 (a) | 200,000 | 199,000 | ||||||
| 681,441 | ||||||||
| United States — 0.9% | ||||||||
| Hyundai Capital America | ||||||||
| 5.600% 3/30/28 (a) | 175,000 | 177,590 | ||||||
| International Bank for Reconstruction & Development | ||||||||
| 0.000% 3/31/27 | 275,000 | 253,590 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| LCPR Senior Secured Financing DAC | ||||||||
| 5.125% 7/15/29 (a) | $ | 400,000 | $ | 348,454 | ||||
| 779,634 | ||||||||
| Venezuela — 1.8% | ||||||||
| Petroleos de Venezuela SA | ||||||||
| 5.375% 4/12/27 (a) (e) | 900,000 | 95,850 | ||||||
| 6.000% 5/16/24 (a) (e) | 2,400,000 | 263,947 | ||||||
| 6.000% 11/15/26 (a) (e) | 1,750,000 | 196,875 | ||||||
| 8.500% 10/27/20 (a) (e) | 250,000 | 200,000 | ||||||
| 9.000% 11/17/21 (a) (e) | 4,990,000 | 561,375 | ||||||
| 9.750% 5/17/35 (a) (e) | 150,000 | 18,750 | ||||||
| 12.750% 2/17/22 (a) (e) | 1,500,000 | 195,000 | ||||||
| 1,531,797 | ||||||||
| TOTAL CORPORATE DEBT (Cost $25,869,694) | 22,429,652 | |||||||
| SOVEREIGN DEBT OBLIGATIONS — 68.3% | ||||||||
| Albania — 1.9% | ||||||||
| Albania Government International Bond | ||||||||
| 3.500% 6/16/27 EUR (a) (d) | 190,000 | 202,300 | ||||||
| 3.500% 11/23/31 EUR (a) (d) | 600,000 | 578,925 | ||||||
| 3.500% 11/23/31 EUR (a) (d) | 590,000 | 569,276 | ||||||
| 5.900% 6/09/28 EUR (a) (d) | 130,000 | 146,384 | ||||||
| 5.900% 6/09/28 EUR (a) (d) | 100,000 | 112,603 | ||||||
| 1,609,488 | ||||||||
| Angola — 2.9% | ||||||||
| Angolan Government International Bond | ||||||||
| 8.000% 11/26/29 (a) | 800,000 | 709,520 | ||||||
| 8.250% 5/09/28 (a) | 1,125,000 | 1,034,865 | ||||||
| 9.125% 11/26/49 (a) | 300,000 | 244,500 | ||||||
| 9.500% 11/12/25 (a) | 400,000 | 392,000 | ||||||
| 2,380,885 | ||||||||
| Argentina — 1.2% | ||||||||
| Argentina Government International Bond, | ||||||||
| 4.250% STEP 1/09/38 | 1,327,891 | 523,751 | ||||||
| Argentine Republic Government International Bond | ||||||||
| 1.000% 12/15/35 | 845,000 | 23,660 | ||||||
| 3.625% STEP 7/09/35 | 1,224,923 | 418,085 | ||||||
| 965,496 | ||||||||
| Bahamas — 0.7% | ||||||||
| Bahamas Government International Bond | ||||||||
| 6.000% 11/21/28 (a) | 675,000 | 594,000 | ||||||
| Bahrain — 2.3% | ||||||||
| Bahrain Government International Bond | ||||||||
| 5.625% 5/18/34 (a) | 700,000 | 632,855 | ||||||
| 6.750% 9/20/29 (a) | 350,000 | 355,250 | ||||||
| 7.000% 10/12/28 (a) | 675,000 | 702,000 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 7.500% 9/20/47 (a) | $ | 200,000 | $ | 188,058 | ||||
| 1,878,163 | ||||||||
| Barbados — 0.1% | ||||||||
| Barbados Government International Bond | ||||||||
| 6.500% 10/01/29 (a) | 75,000 | 70,594 | ||||||
| Bermuda — 0.5% | ||||||||
| Bermuda Government International Bond | ||||||||
| 5.000% 7/15/32 (a) | 400,000 | 396,800 | ||||||
| Brazil — 1.6% | ||||||||
| Brazil Notas do Tesouro Nacional Serie F | ||||||||
| 10.000% 1/01/29 BRL (d) (e) | 650,000 | 126,917 | ||||||
| 10.000% 1/01/31 BRL (d) (e) | 4,294,000 | 829,642 | ||||||
| Brazilian Government International Bond | ||||||||
| 5.000% 1/27/45 | 240,000 | 195,711 | ||||||
| 6.250% 3/18/31 | 200,000 | 207,396 | ||||||
| 1,359,666 | ||||||||
| Bulgaria — 0.5% | ||||||||
| Bulgaria Government International Bond | ||||||||
| 4.500% 1/27/33 EUR (a) (d) | 310,000 | 358,908 | ||||||
| 4.875% 5/13/36 EUR (a) (d) | 50,000 | 59,071 | ||||||
| 417,979 | ||||||||
| Chile — 0.4% | ||||||||
| Chile Government International Bond | ||||||||
| 4.000% 1/31/52 | 200,000 | 164,214 | ||||||
| 4.950% 1/05/36 | 200,000 | 197,635 | ||||||
| 361,849 | ||||||||
| China — 1.5% | ||||||||
| China Government Bond | ||||||||
| 2.620% 6/25/30 CNY (d) | 9,000,000 | 1,274,856 | ||||||
| Colombia — 3.1% | ||||||||
| Colombia Government International Bond | ||||||||
| 3.000% 1/30/30 | 400,000 | 337,268 | ||||||
| 3.125% 4/15/31 | 400,000 | 325,256 | ||||||
| 4.125% 5/15/51 | 725,000 | 481,084 | ||||||
| 5.000% 6/15/45 | 350,000 | 271,246 | ||||||
| 5.625% 2/26/44 | 400,000 | 335,806 | ||||||
| 8.000% 11/14/35 | 200,000 | 218,563 | ||||||
| 8.750% 11/14/53 | 200,000 | 229,687 | ||||||
| Colombia TES | ||||||||
| 7.000% 3/26/31 COP (d) | 1,903,300,000 | 423,486 | ||||||
| 2,622,396 | ||||||||
| Costa Rica — 0.7% | ||||||||
| Costa Rica Government International Bond | ||||||||
| 5.625% 4/30/43 (a) | 200,000 | 183,500 | ||||||
| 7.300% 11/13/54 (a) | 400,000 | 434,000 | ||||||
| 617,500 | ||||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Dominican Republic — 3.8% | ||||||||
| Dominican Republic International Bond | ||||||||
| 4.500% 1/30/30 (a) | $ | 355,000 | $ | 326,600 | ||||
| 4.875% 9/23/32 (a) | 1,075,000 | 977,336 | ||||||
| 4.875% 9/23/32 (a) | 500,000 | 454,575 | ||||||
| 5.500% 2/22/29 (a) | 165,000 | 161,081 | ||||||
| 5.875% 1/30/60 (a) | 540,000 | 465,750 | ||||||
| 6.500% 2/15/48 (a) | 300,000 | 286,125 | ||||||
| 6.850% 1/27/45 (a) | 305,000 | 303,475 | ||||||
| 7.050% 2/03/31 (a) | 150,000 | 157,500 | ||||||
| 3,132,442 | ||||||||
| Ecuador — 0.6% | ||||||||
| Ecuador Government International Bond | ||||||||
| 0.000% 7/31/30 (a) | 165,446 | 46,776 | ||||||
| 3.500% STEP 7/31/35 (a) | 128,550 | 45,679 | ||||||
| 3.500% STEP 7/31/35 (a) | 40,000 | 14,213 | ||||||
| 6.000% STEP 7/31/30 (a) | 877,100 | 405,491 | ||||||
| 512,159 | ||||||||
| Egypt — 1.9% | ||||||||
| Egypt Government International Bond | ||||||||
| 5.800% 9/30/27 (a) | 200,000 | 153,740 | ||||||
| 5.875% 2/16/31 (a) | 200,000 | 130,750 | ||||||
| 6.588% 2/21/28 (a) | 200,000 | 152,938 | ||||||
| 7.500% 1/31/27 (a) | 270,000 | 226,476 | ||||||
| 7.600% 3/01/29 (a) | 275,000 | 209,456 | ||||||
| 8.500% 1/31/47 (a) | 550,000 | 340,954 | ||||||
| 8.500% 1/31/47 (a) | 640,000 | 396,746 | ||||||
| 1,611,060 | ||||||||
| El Salvador — 0.7% | ||||||||
| El Salvador Government International Bond | ||||||||
| 5.875% 1/30/25 (a) | 590,000 | 552,374 | ||||||
| Ghana — 0.3% | ||||||||
| Ghana Government International Bond | ||||||||
| 6.375% 2/11/27 (a) | 375,000 | 165,938 | ||||||
| 10.750% 10/14/30 (a) | 200,000 | 125,250 | ||||||
| 291,188 | ||||||||
| Guatemala — 1.7% | ||||||||
| Guatemala Government Bond | ||||||||
| 4.875% 2/13/28 (a) | 400,000 | 388,600 | ||||||
| 5.250% 8/10/29 (a) | 200,000 | 195,800 | ||||||
| 5.375% 4/24/32 (a) | 200,000 | 193,300 | ||||||
| 6.600% 6/13/36 (a) | 400,000 | 411,600 | ||||||
| 7.050% 10/04/32 (a) | 200,000 | 212,500 | ||||||
| 1,401,800 | ||||||||
| India — 2.1% | ||||||||
| Export-Import Bank of India | ||||||||
| 2.250% 1/13/31 (a) | 205,000 | 171,271 | ||||||
| 2.250% 1/13/31 (a) | 200,000 | 167,094 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.250% 1/15/30 (a) | $ | 1,500,000 | $ | 1,369,755 | ||||
| 1,708,120 | ||||||||
| Indonesia — 5.3% | ||||||||
| Indonesia Government International Bond | ||||||||
| 3.500% 1/11/28 | 375,000 | 359,498 | ||||||
| 4.550% 1/11/28 | 200,000 | 199,643 | ||||||
| 4.625% 4/15/43 (a) | 1,400,000 | 1,364,540 | ||||||
| Indonesia Treasury Bond | ||||||||
| 6.125% 5/15/28 IDR (d) | 8,304,000,000 | 531,959 | ||||||
| 7.000% 2/15/33 IDR (d) | 6,958,000,000 | 467,565 | ||||||
| Perusahaan Penerbit SBSN Indonesia III | ||||||||
| 3.800% 6/23/50 (a) | 200,000 | 166,750 | ||||||
| 4.550% 3/29/26 (a) | 1,350,000 | 1,348,312 | ||||||
| 4,438,267 | ||||||||
| Ivory Coast — 2.5% | ||||||||
| Ivory Coast Government International Bond | ||||||||
| 4.875% 1/30/32 EUR (a) (d) | 250,000 | 232,017 | ||||||
| 6.125% 6/15/33 (a) | 1,505,000 | 1,381,350 | ||||||
| 6.625% 3/22/48 EUR (a) (d) | 525,000 | 460,761 | ||||||
| 2,074,128 | ||||||||
| Jamaica — 0.5% | ||||||||
| Jamaica Government International Bond | ||||||||
| 8.000% 3/15/39 | 170,000 | 210,588 | ||||||
| 8.000% 3/15/39 | 175,000 | 216,781 | ||||||
| 427,369 | ||||||||
| Jordan — 2.1% | ||||||||
| Jordan Government International Bond | ||||||||
| 5.850% 7/07/30 (a) | 1,200,000 | 1,114,615 | ||||||
| 7.500% 1/13/29 (a) | 400,000 | 404,500 | ||||||
| 7.750% 1/15/28 (a) | 240,000 | 247,963 | ||||||
| 1,767,078 | ||||||||
| Kenya — 0.9% | ||||||||
| Kenya Government International Bond | ||||||||
| 7.250% 2/28/28 (a) | 800,000 | 730,000 | ||||||
| Mexico — 1.7% | ||||||||
| Mexican Bonos | ||||||||
| 7.750% 5/29/31 MXN (d) | 18,363,000 | 1,008,197 | ||||||
| Mexico Government International Bond | ||||||||
| 6.350% 2/09/35 | 380,000 | 398,083 | ||||||
| 1,406,280 | ||||||||
| Morocco — 1.8% | ||||||||
| Morocco Government International Bond | ||||||||
| 3.000% 12/15/32 (a) | 600,000 | 493,404 | ||||||
| 4.000% 12/15/50 (a) | 1,000,000 | 720,000 | ||||||
| 6.500% 9/08/33 (a) | 240,000 | 252,975 | ||||||
| 1,466,379 | ||||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Nigeria — 0.6% | ||||||||
| Nigeria Government International Bond | ||||||||
| 7.875% 2/16/32 (a) | $ | 550,000 | $ | 493,625 | ||||
| Oman — 3.5% | ||||||||
| Oman Government International Bond | ||||||||
| 4.750% 6/15/26 (a) | 600,000 | 592,500 | ||||||
| 4.750% 6/15/26 (a) | 350,000 | 345,625 | ||||||
| 5.375% 3/08/27 (a) | 200,000 | 201,288 | ||||||
| 5.625% 1/17/28 (a) | 200,000 | 203,648 | ||||||
| 6.500% 3/08/47 (a) | 390,000 | 397,067 | ||||||
| 6.750% 10/28/27 (a) | 200,000 | 211,000 | ||||||
| 6.750% 10/28/27 (a) | 400,000 | 422,000 | ||||||
| 6.750% 1/17/48 (a) | 300,000 | 313,560 | ||||||
| 7.000% 1/25/51 (a) | 200,000 | 215,750 | ||||||
| 2,902,438 | ||||||||
| Pakistan — 0.4% | ||||||||
| Pakistan Government International Bond | ||||||||
| 7.875% 3/31/36 (a) | 562,000 | 350,851 | ||||||
| Panama — 2.8% | ||||||||
| Panama Government International Bond | ||||||||
| 2.252% 9/29/32 (c) | 1,050,000 | 764,503 | ||||||
| 4.500% 1/19/63 | 360,000 | 234,887 | ||||||
| 6.400% 2/14/35 | 1,350,000 | 1,316,341 | ||||||
| 2,315,731 | ||||||||
| Paraguay — 1.1% | ||||||||
| Paraguay Government International Bond | ||||||||
| 4.950% 4/28/31 (a) | 200,000 | 195,000 | ||||||
| 5.400% 3/30/50 (a) | 600,000 | 532,800 | ||||||
| 5.850% 8/21/33 | 200,000 | 203,161 | ||||||
| 930,961 | ||||||||
| Peru — 1.1% | ||||||||
| Peruvian Government International Bond | ||||||||
| 2.780% 12/01/60 | 670,000 | 416,418 | ||||||
| 3.300% 3/11/41 | 300,000 | 232,998 | ||||||
| 3.550% 3/10/51 | 130,000 | 98,391 | ||||||
| 6.150% 8/12/32 PEN (a) (d) | 530,000 | 139,808 | ||||||
| 887,615 | ||||||||
| Philippines — 0.8% | ||||||||
| Philippines Government International Bond | ||||||||
| 2.650% 12/10/45 | 900,000 | 637,530 | ||||||
| Poland — 0.5% | ||||||||
| Poland Government International Bond | ||||||||
| 3.875% 2/14/33 EUR (a) (d) | 230,000 | 263,938 | ||||||
| 5.500% 4/04/53 | 120,000 | 124,840 | ||||||
| 388,778 | ||||||||
| Qatar — 1.4% | ||||||||
| Qatar Government International Bond | ||||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 4.400% 4/16/50 (a) | $ | 200,000 | $ | 184,000 | ||||
| 4.400% 4/16/50 (a) | 200,000 | 184,000 | ||||||
| 4.817% 3/14/49 (a) | 800,000 | 778,320 | ||||||
| 1,146,320 | ||||||||
| Republic of Korea — 0.2% | ||||||||
| Export-Import Bank of Korea | ||||||||
| 5.000% 1/11/28 | 200,000 | 203,730 | ||||||
| Romania — 1.7% | ||||||||
| Romania Government International Bond | ||||||||
| 2.625% 12/02/40 EUR (a) (d) | 50,000 | 36,981 | ||||||
| 2.875% 4/13/42 EUR (a) (d) | 125,000 | 92,884 | ||||||
| 3.000% 2/14/31 (a) | 174,000 | 147,533 | ||||||
| 3.000% 2/14/31 (a) | 300,000 | 254,368 | ||||||
| 4.000% 2/14/51 (a) | 160,000 | 115,670 | ||||||
| 4.000% 2/14/51 (a) | 722,000 | 521,961 | ||||||
| 5.500% 9/18/28 EUR (a) (d) | 210,000 | 237,748 | ||||||
| 1,407,145 | ||||||||
| Saudi Arabia — 1.0% | ||||||||
| Saudi Government International Bond | ||||||||
| 2.750% 2/03/32 (a) | 200,000 | 175,684 | ||||||
| 3.750% 1/21/55 (a) | 400,000 | 303,908 | ||||||
| 5.000% 4/17/49 (a) | 400,000 | 377,500 | ||||||
| 857,092 | ||||||||
| Senegal — 1.3% | ||||||||
| Senegal Government International Bond | ||||||||
| 4.750% 3/13/28 EUR (a) (d) | 300,000 | 305,154 | ||||||
| 6.250% 5/23/33 (a) | 200,000 | 178,404 | ||||||
| 6.250% 5/23/33 (a) | 630,000 | 561,973 | ||||||
| 1,045,531 | ||||||||
| Serbia — 1.7% | ||||||||
| Senegal Government International Bond | ||||||||
| 2.125% 12/01/30 (a) | 1,100,000 | 880,000 | ||||||
| 6.250% 5/26/28 (a) | 240,000 | 245,400 | ||||||
| Serbia International Bond | ||||||||
| 6.500% 9/26/33 (a) | 250,000 | 256,250 | ||||||
| 1,381,650 | ||||||||
| South Africa — 1.1% | ||||||||
| South Africa Government International Bond | ||||||||
| 5.650% 9/27/47 | 210,000 | 167,475 | ||||||
| 5.875% 4/20/32 | 425,000 | 402,526 | ||||||
| 6.250% 3/08/41 | 400,000 | 355,064 | ||||||
| 925,065 | ||||||||
| Sri Lanka — 1.4% | ||||||||
| Sri Lanka Government International Bond | ||||||||
| 6.125% 6/03/25 (a) | 200,000 | 101,996 | ||||||
| 6.125% 6/03/25 (a) | 500,000 | 254,989 | ||||||
| 6.825% 7/18/26 (a) | 200,000 | 101,629 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 6.850% 11/03/25 (a) | $ | 1,400,000 | $ | 713,997 | ||||
| 1,172,611 | ||||||||
| Suriname — 0.8% | ||||||||
| Suriname Government International Bond | ||||||||
| 0.000% 12/31/50 (a) | 289,000 | 131,495 | ||||||
| 7.950% 7/15/33 (a) | 598,000 | 516,552 | ||||||
| 648,047 | ||||||||
| Turkey — 2.8% | ||||||||
| Turkey Government International Bond | ||||||||
| 4.250% 4/14/26 | 200,000 | 191,484 | ||||||
| 4.875% 10/09/26 | 400,000 | 385,688 | ||||||
| 4.875% 4/16/43 | 450,000 | 327,663 | ||||||
| 6.000% 1/14/41 | 350,000 | 296,641 | ||||||
| 8.600% 9/24/27 | 275,000 | 293,326 | ||||||
| 9.375% 3/14/29 | 325,000 | 359,138 | ||||||
| 9.375% 1/19/33 | 230,000 | 259,693 | ||||||
| 9.875% 1/15/28 | 200,000 | 221,751 | ||||||
| 2,335,384 | ||||||||
| Uruguay — 0.5% | ||||||||
| Uruguay Government International Bond | ||||||||
| 5.750% 10/28/34 | 355,000 | 383,578 | ||||||
| Venezuela — 0.3% | ||||||||
| Venezuela Government International Bond | ||||||||
| 7.750% 10/13/19 (a) (e) | 1,000,000 | 134,770 | ||||||
| 9.250% 9/15/27 (e) | 300,000 | 55,908 | ||||||
| 11.750% 10/21/26 (a) (e) | 300,000 | 56,250 | ||||||
| 12.750% 8/23/22 (a) (e) | 255,000 | 40,988 | ||||||
| 287,916 | ||||||||
| TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $61,482,637) | 56,769,914 | |||||||
| TOTAL BONDS & NOTES (Cost $87,352,331) | 79,199,566 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $87,352,331) | 79,199,566 | |||||||
| SHORT-TERM INVESTMENTS — 3.7% | ||||||||
| Number of Shares | ||||||||
| Investment of Cash Collateral from Securities Loaned — 1.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (f) | 897,405 | 897,405 | ||||||
| Mutual Fund — 1.4% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 1,216,755 | 1,216,755 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| Repurchase Agreement — 1.2% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (g) | $ | 973,908 | $ | 973,908 | ||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $3,088,068) | 3,088,068 | |||||||
| TOTAL INVESTMENTS — 99.0% (Cost $90,440,399) (h) | 82,287,634 | |||||||
| Other Assets/(Liabilities) — 1.0% | 830,120 | |||||||
| NET ASSETS — 100.0% | $ | 83,117,754 | ||||||
Abbreviation Legend
| CMT | Constant Maturity Treasury Index |
| EURIBOR | Euro Inter-Bank Offered Rate |
| ICE | Inter-Continental Exchange |
| STEP | Step Up Bond |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $57,348,743 or 69.00% of net assets. |
| (b) | Security is perpetual and has no stated maturity date. |
| (c) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $2,024,152 or 2.44% of net assets. The Fund received $1,174,610 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) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At December 31, 2023, these securities amounted to a value of $2,776,272 or 3.34% of net assets. |
| (f) | Represents investment of security lending cash collateral. (Note 2). |
| (g) | Maturity value of $974,082. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $993,435. |
| (h) | See Note 3 for aggregate cost for federal tax purposes. |
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Barclays Bank PLC | 2/23/24 | USD | 145,938 | EUR | 135,000 | $ | (3,395) | |||||||||
| Barclays Bank PLC | 3/15/24 | USD | 342,770 | CNH | 2,438,511 | (1,145) | ||||||||||
| BNP Paribas SA | 1/12/24 | USD | 631,722 | MXN | 11,474,048 | (43,033) | ||||||||||
| BNP Paribas SA | 1/17/24 | USD | 76,202 | IDR | 1,192,892,028 | (1,264) | ||||||||||
| BNP Paribas SA | 3/08/24 | COP | 586,771,930 | USD | 141,679 | 7,795 | ||||||||||
| Citibank N.A. | 3/04/24 | USD | 72,323 | BRL | 358,026 | (937) | ||||||||||
| Goldman Sachs International | 1/12/24 | MXN | 719,473 | USD | 41,119 | 1,191 | ||||||||||
| Goldman Sachs International | 1/17/24 | USD | 31,578 | IDR | 490,932,372 | (303) | ||||||||||
| Goldman Sachs International | 2/23/24 | USD | 159,864 | EUR | 145,171 | (720) | ||||||||||
| Goldman Sachs International | 3/04/24 | USD | 715,034 | BRL | 3,524,548 | (6,167) | ||||||||||
| HSBC Bank USA | 1/12/24 | USD | 317,666 | MXN | 5,492,054 | (5,305) | ||||||||||
| HSBC Bank USA | 1/17/24 | USD | 69,009 | IDR | 1,076,710,354 | (912) | ||||||||||
| HSBC Bank USA | 3/15/24 | USD | 786,766 | CNH | 5,587,204 | (1,225) | ||||||||||
| Morgan Stanley & Co. LLC | 1/17/24 | USD | 350,435 | IDR | 5,465,023,601 | (4,458) | ||||||||||
| Morgan Stanley & Co. LLC | 3/08/24 | USD | 214,930 | COP | 875,196,864 | (8,018) | ||||||||||
| UBS AG | 1/17/24 | USD | 30,349 | IDR | 471,680,122 | (281) | ||||||||||
| UBS AG | 1/17/24 | USD | 126,118 | PEN | 481,000 | (3,851) | ||||||||||
| UBS AG | 2/23/24 | USD | 4,083,837 | EUR | 3,742,588 | (56,092) | ||||||||||
| UBS AG | 3/08/24 | USD | 334,611 | COP | 1,391,565,281 | (19,876) | ||||||||||
| UBS AG | 3/15/24 | USD | 344,110 | CNH | 2,448,285 | (1,183) | ||||||||||
| $ | (149,179) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Note 10 Year | 3/19/24 | 10 | $ | 1,112,217 | $ | 16,689 | ||||||||
| U.S. Treasury Ultra Bond | 3/19/24 | 26 | 3,179,227 | 294,211 | ||||||||||
| $ | 310,900 | |||||||||||||
| Short | ||||||||||||||
| Euro-Bund | 3/07/24 | 12 | $ | (1,769,441) | $ | (48,367) | ||||||||
Currency Legend
| BRL | Brazilian Real |
| CNH | Offshore Chinese Yuan |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| EUR | Euro |
| IDR | Indonesian Rupiah |
| MXN | Mexican Peso |
| PEN | Peruvian New Sol |
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 98.9% | ||||||||
| COMMON STOCK — 98.4% | ||||||||
| Basic Materials — 2.0% | ||||||||
| Chemicals — 1.1% | ||||||||
| CF Industries Holdings, Inc. | 860 | $ | 68,371 | |||||
| Linde PLC (LIN US) | 54,320 | 22,309,767 | ||||||
| Nutrien Ltd. | 47,268 | 2,662,607 | ||||||
| RPM International, Inc. | 289 | 32,261 | ||||||
| Sherwin-Williams Co. | 386 | 120,393 | ||||||
| 25,193,399 | ||||||||
| Iron & Steel — 0.0% | ||||||||
| Steel Dynamics, Inc. | 654 | 77,237 | ||||||
| Mining — 0.9% | ||||||||
| Agnico Eagle Mines Ltd. | 589 | 32,307 | ||||||
| Franco-Nevada Corp. | 25,791 | 2,857,901 | ||||||
| Freeport-McMoRan, Inc. | 191,077 | 8,134,148 | ||||||
| Southern Copper Corp. | 76,622 | 6,594,855 | ||||||
| Wheaton Precious Metals Corp. | 83,721 | 4,130,794 | ||||||
| 21,750,005 | ||||||||
| 47,020,641 | ||||||||
| Communications — 13.0% | ||||||||
| Advertising — 0.1% | ||||||||
| Trade Desk, Inc. Class A (a) | 29,140 | 2,096,914 | ||||||
| Internet — 11.9% | ||||||||
| Airbnb, Inc. Class A (a) | 182 | 24,778 | ||||||
| Alphabet, Inc. Class A (a) | 389,153 | 54,360,783 | ||||||
| Alphabet, Inc. Class C (a) | 251,172 | 35,397,670 | ||||||
| Amazon.com, Inc. (a) | 604,237 | 91,807,770 | ||||||
| Booking Holdings, Inc. (a) | 5,119 | 18,158,219 | ||||||
| Coupang, Inc. (a) | 303,634 | 4,915,834 | ||||||
| Gen Digital, Inc. | 4,002 | 91,326 | ||||||
| Maplebear, Inc. (a) | 11,206 | 263,005 | ||||||
| Maplebear, Inc., Lockup Shares (Acquired 2/26/21, Cost $1,190,377) (a) (b) (c) | 21,673 | 508,665 | ||||||
| Meta Platforms, Inc. Class A (a) | 93,567 | 33,118,975 | ||||||
| Netflix, Inc. (a) | 37,765 | 18,387,023 | ||||||
| Palo Alto Networks, Inc. (a) | 237 | 69,887 | ||||||
| Pinterest, Inc. Class A (a) | 154,104 | 5,708,012 | ||||||
| Shopify, Inc. Class A (a) | 69,327 | 5,400,573 | ||||||
| Spotify Technology SA (a) | 26,936 | 5,061,544 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Uber Technologies, Inc. (a) | 66,500 | $ | 4,094,405 | |||||
| 277,368,469 | ||||||||
| Media — 0.0% | ||||||||
| Charter Communications, Inc. Class A (a) | 107 | 41,589 | ||||||
| Comcast Corp. Class A | 5,610 | 245,998 | ||||||
| Walt Disney Co. | 1,826 | 164,870 | ||||||
| 452,457 | ||||||||
| Telecommunications — 1.0% | ||||||||
| Arista Networks, Inc. (a) | 336 | 79,131 | ||||||
| AT&T, Inc. | 1,454 | 24,398 | ||||||
| Cisco Systems, Inc. | 3,464 | 175,001 | ||||||
| T-Mobile US, Inc. | 150,835 | 24,183,376 | ||||||
| Verizon Communications, Inc. | 2,298 | 86,635 | ||||||
| 24,548,541 | ||||||||
| 304,466,381 | ||||||||
| Consumer, Cyclical — 6.7% | ||||||||
| Airlines — 0.0% | ||||||||
| Southwest Airlines Co. | 1,454 | 41,991 | ||||||
| United Airlines Holdings, Inc. (a) | 387 | 15,968 | ||||||
| 57,959 | ||||||||
| Apparel — 0.2% | ||||||||
| NIKE, Inc. Class B | 50,695 | 5,503,956 | ||||||
| Auto Manufacturers — 1.9% | ||||||||
| Cummins, Inc. | 60,263 | 14,437,207 | ||||||
| Ferrari NV | 13,536 | 4,580,988 | ||||||
| General Motors Co. | 1,597 | 57,364 | ||||||
| PACCAR, Inc. | 400 | 39,060 | ||||||
| Rivian Automotive, Inc. Class A (a) (d) | 507,371 | 11,902,924 | ||||||
| Tesla, Inc. (a) | 52,127 | 12,952,517 | ||||||
| 43,970,060 | ||||||||
| Auto Parts & Equipment — 0.1% | ||||||||
| Aptiv PLC (a) | 887 | 79,582 | ||||||
| Aurora Innovation, Inc. (a) (d) | 319,054 | 1,394,266 | ||||||
| 1,473,848 | ||||||||
| Distribution & Wholesale — 0.0% | ||||||||
| Copart, Inc. (a) | 1,854 | 90,846 | ||||||
| SiteOne Landscape Supply, Inc. (a) | 53 | 8,612 | ||||||
| 99,458 | ||||||||
| Home Builders — 0.0% | ||||||||
| NVR, Inc. (a) | 19 | 133,009 | ||||||
| Leisure Time — 0.1% | ||||||||
| Norwegian Cruise Line Holdings Ltd. (a) (d) | 108,737 | 2,179,089 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Royal Caribbean Cruises Ltd. (a) | 859 | $ | 111,232 | |||||
| 2,290,321 | ||||||||
| Lodging — 0.5% | ||||||||
| Hilton Worldwide Holdings, Inc. | 39,583 | 7,207,668 | ||||||
| Las Vegas Sands Corp. | 103,593 | 5,097,812 | ||||||
| Marriott International, Inc. Class A | 227 | 51,191 | ||||||
| Wynn Resorts Ltd. | 589 | 53,664 | ||||||
| 12,410,335 | ||||||||
| Retail — 3.9% | ||||||||
| AutoZone, Inc. (a) | 2,717 | 7,025,102 | ||||||
| Bath & Body Works, Inc. | 507 | 21,882 | ||||||
| Burlington Stores, Inc. (a) | 243 | 47,259 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 2,746 | 6,279,992 | ||||||
| Costco Wholesale Corp. | 607 | 400,669 | ||||||
| Dollar General Corp. | 61,654 | 8,381,861 | ||||||
| Dollar Tree, Inc. (a) | 94 | 13,353 | ||||||
| Floor & Decor Holdings, Inc. Class A (a) | 15,859 | 1,769,230 | ||||||
| Home Depot, Inc. | 14,897 | 5,162,555 | ||||||
| Lowe's Cos., Inc. | 440 | 97,922 | ||||||
| Lululemon Athletica, Inc. (a) | 168 | 85,897 | ||||||
| McDonald's Corp. | 48,510 | 14,383,700 | ||||||
| O'Reilly Automotive, Inc. (a) | 4,641 | 4,409,321 | ||||||
| Ross Stores, Inc. | 26,020 | 3,600,908 | ||||||
| Starbucks Corp. | 996 | 95,626 | ||||||
| Target Corp. | 31,816 | 4,531,235 | ||||||
| TJX Cos., Inc. | 1,267 | 118,857 | ||||||
| Tractor Supply Co. | 30,988 | 6,663,350 | ||||||
| Ulta Beauty, Inc. (a) | 19,609 | 9,608,214 | ||||||
| Walmart, Inc. | 118,180 | 18,631,077 | ||||||
| 91,328,010 | ||||||||
| 157,266,956 | ||||||||
| Consumer, Non-cyclical — 19.2% | ||||||||
| Agriculture — 0.6% | ||||||||
| Altria Group, Inc. | 781 | 31,505 | ||||||
| Philip Morris International, Inc. | 144,533 | 13,597,665 | ||||||
| 13,629,170 | ||||||||
| Beverages — 0.8% | ||||||||
| Coca-Cola Co. | 209,365 | 12,337,879 | ||||||
| Constellation Brands, Inc. Class A | 400 | 96,700 | ||||||
| Keurig Dr Pepper, Inc. | 29,650 | 987,938 | ||||||
| Monster Beverage Corp. (a) | 1,320 | 76,045 | ||||||
| PepsiCo, Inc. | 26,408 | 4,485,135 | ||||||
| 17,983,697 | ||||||||
| Biotechnology — 1.4% | ||||||||
| Amgen, Inc. | 47,523 | 13,687,574 | ||||||
| Argenx SE ADR (a) | 10,102 | 3,843,104 | ||||||
| Biogen, Inc. (a) | 310 | 80,219 | ||||||
| BioMarin Pharmaceutical, Inc. (a) | 149 | 14,366 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Gilead Sciences, Inc. | 810 | $ | 65,618 | |||||
| Legend Biotech Corp. ADR (a) | 40,245 | 2,421,542 | ||||||
| Moderna, Inc. (a) | 121 | 12,033 | ||||||
| Regeneron Pharmaceuticals, Inc. (a) | 114 | 100,125 | ||||||
| Vertex Pharmaceuticals, Inc. (a) | 31,058 | 12,637,190 | ||||||
| 32,861,771 | ||||||||
| Commercial Services — 0.8% | ||||||||
| Ant Group Balance Owed 2023 (Acquired 8/14/23, Cost $423,859) (a) (b) (c) (e) | 423,859 | 415,043 | ||||||
| Booz Allen Hamilton Holding Corp. | 38,318 | 4,901,255 | ||||||
| Cintas Corp. | 4,513 | 2,719,805 | ||||||
| CoStar Group, Inc. (a) | 521 | 45,530 | ||||||
| Equifax, Inc. | 200 | 49,458 | ||||||
| FleetCor Technologies, Inc. (a) | 12,125 | 3,426,646 | ||||||
| Global Payments, Inc. | 1,557 | 197,739 | ||||||
| MarketAxess Holdings, Inc. | 53 | 15,521 | ||||||
| Moody's Corp. | 122 | 47,648 | ||||||
| S&P Global, Inc. | 559 | 246,251 | ||||||
| Service Corp. International | 48,238 | 3,301,891 | ||||||
| TransUnion | 37,519 | 2,577,930 | ||||||
| United Rentals, Inc. | 28 | 16,056 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 188 | 8,366 | ||||||
| 17,969,139 | ||||||||
| Cosmetics & Personal Care — 2.2% | ||||||||
| Colgate-Palmolive Co. | 163,092 | 13,000,063 | ||||||
| elf Beauty, Inc. (a) | 214 | 30,889 | ||||||
| Kenvue, Inc. | 877,418 | 18,890,810 | ||||||
| Procter & Gamble Co. | 143,376 | 21,010,319 | ||||||
| 52,932,081 | ||||||||
| Food — 1.2% | ||||||||
| Kraft Heinz Co. | 180,100 | 6,660,098 | ||||||
| Mondelez International, Inc. Class A | 304,580 | 22,060,729 | ||||||
| Sysco Corp. | 765 | 55,945 | ||||||
| Tyson Foods, Inc. Class A | 329 | 17,684 | ||||||
| 28,794,456 | ||||||||
| Health Care – Products — 3.4% | ||||||||
| Abbott Laboratories | 1,389 | 152,887 | ||||||
| Agilent Technologies, Inc. | 45,150 | 6,277,205 | ||||||
| Avantor, Inc. (a) | 114,136 | 2,605,725 | ||||||
| Baxter International, Inc. | 1,712 | 66,186 | ||||||
| Bio-Techne Corp. | 600 | 46,296 | ||||||
| Boston Scientific Corp. (a) | 1,474 | 85,212 | ||||||
| Danaher Corp. | 53,138 | 12,292,945 | ||||||
| Edwards Lifesciences Corp. (a) | 1,161 | 88,526 | ||||||
| GE HealthCare Technologies, Inc. (a) | 102,222 | 7,903,805 | ||||||
| Hologic, Inc. (a) | 1,005 | 71,807 | ||||||
| Intuitive Surgical, Inc. (a) | 40,278 | 13,588,186 | ||||||
| Medtronic PLC | 59,971 | 4,940,411 | ||||||
| Penumbra, Inc. (a) | 66 | 16,602 | ||||||
| Repligen Corp. (a) | 99 | 17,800 | ||||||
| STERIS PLC | 17,329 | 3,809,781 | ||||||
| Stryker Corp. | 14,066 | 4,212,204 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Teleflex, Inc. | 202 | $ | 50,367 | |||||
| Thermo Fisher Scientific, Inc. | 43,231 | 22,946,582 | ||||||
| Zimmer Biomet Holdings, Inc. | 1,157 | 140,807 | ||||||
| 79,313,334 | ||||||||
| Health Care – Services — 4.0% | ||||||||
| Catalent, Inc. (a) | 780 | 35,045 | ||||||
| Centene Corp. (a) | 200 | 14,842 | ||||||
| Elevance Health, Inc. | 69,358 | 32,706,458 | ||||||
| HCA Healthcare, Inc. | 26,632 | 7,208,750 | ||||||
| Humana, Inc. | 7,479 | 3,423,961 | ||||||
| ICON PLC (a) | 145 | 41,045 | ||||||
| IQVIA Holdings, Inc. (a) | 52 | 12,032 | ||||||
| Molina Healthcare, Inc. (a) | 16,191 | 5,849,970 | ||||||
| Quest Diagnostics, Inc. | 36,178 | 4,988,223 | ||||||
| Tenet Healthcare Corp. (a) | 62,712 | 4,739,146 | ||||||
| UnitedHealth Group, Inc. | 67,455 | 35,513,034 | ||||||
| 94,532,506 | ||||||||
| Household Products & Wares — 0.0% | ||||||||
| Avery Dennison Corp. | 257 | 51,955 | ||||||
| Clorox Co. | 40 | 5,704 | ||||||
| 57,659 | ||||||||
| Pharmaceuticals — 4.8% | ||||||||
| AbbVie, Inc. | 2,350 | 364,180 | ||||||
| AstraZeneca PLC Sponsored ADR | 125,164 | 8,429,795 | ||||||
| Becton Dickinson & Co. | 6,900 | 1,682,427 | ||||||
| Bristol-Myers Squibb Co. | 1,483 | 76,093 | ||||||
| Cardinal Health, Inc. | 200 | 20,160 | ||||||
| Cencora, Inc. | 117,856 | 24,205,265 | ||||||
| Cigna Group | 30,974 | 9,275,164 | ||||||
| CVS Health Corp. | 569 | 44,928 | ||||||
| Dexcom, Inc. (a) | 905 | 112,302 | ||||||
| Eli Lilly & Co. | 56,125 | 32,716,385 | ||||||
| Johnson & Johnson | 73,574 | 11,531,989 | ||||||
| McKesson Corp. | 347 | 160,654 | ||||||
| Merck & Co., Inc. | 164,947 | 17,982,522 | ||||||
| Novo Nordisk AS Sponsored ADR | 518 | 53,587 | ||||||
| Pfizer, Inc. | 2,984 | 85,909 | ||||||
| Viatris, Inc. | 7,842 | 84,929 | ||||||
| Zoetis, Inc. | 23,984 | 4,733,722 | ||||||
| 111,560,011 | ||||||||
| 449,633,824 | ||||||||
| Energy — 5.1% | ||||||||
| Energy – Alternate Sources — 0.0% | ||||||||
| First Solar, Inc. (a) | 65 | 11,198 | ||||||
| Oil & Gas — 2.8% | ||||||||
| Chesapeake Energy Corp. (d) | 148 | 11,387 | ||||||
| Chevron Corp. | 74,485 | 11,110,182 | ||||||
| ConocoPhillips | 105,953 | 12,297,965 | ||||||
| Diamondback Energy, Inc. | 47,881 | 7,425,385 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| EOG Resources, Inc. | 1,125 | $ | 136,069 | |||||
| EQT Corp. | 416,674 | 16,108,617 | ||||||
| Exxon Mobil Corp. | 98,939 | 9,891,921 | ||||||
| Hess Corp. | 377 | 54,348 | ||||||
| Marathon Petroleum Corp. | 947 | 140,497 | ||||||
| Phillips 66 | 300 | 39,942 | ||||||
| Pioneer Natural Resources Co. | 6,053 | 1,361,199 | ||||||
| Range Resources Corp. | 267,406 | 8,139,839 | ||||||
| Suncor Energy, Inc. | 872 | 27,939 | ||||||
| Valero Energy Corp. | 325 | 42,250 | ||||||
| 66,787,540 | ||||||||
| Oil & Gas Services — 1.7% | ||||||||
| Halliburton Co. | 460,452 | 16,645,340 | ||||||
| Nov, Inc. | 45,156 | 915,764 | ||||||
| Schlumberger NV | 421,517 | 21,935,744 | ||||||
| 39,496,848 | ||||||||
| Pipelines — 0.6% | ||||||||
| Kinder Morgan, Inc. | 355,986 | 6,279,593 | ||||||
| Williams Cos., Inc. | 212,900 | 7,415,307 | ||||||
| 13,694,900 | ||||||||
| 119,990,486 | ||||||||
| Financial — 15.5% | ||||||||
| Banks — 4.3% | ||||||||
| Bank of America Corp. | 767,220 | 25,832,297 | ||||||
| Bank of New York Mellon Corp. | 1,499 | 78,023 | ||||||
| Citigroup, Inc. | 4,121 | 211,984 | ||||||
| East West Bancorp, Inc. | 26,330 | 1,894,444 | ||||||
| Fifth Third Bancorp | 3,373 | 116,335 | ||||||
| Goldman Sachs Group, Inc. | 35,386 | 13,650,857 | ||||||
| Huntington Bancshares, Inc. | 5,511 | 70,100 | ||||||
| JP Morgan Chase & Co. | 220,200 | 37,456,020 | ||||||
| Morgan Stanley | 1,776 | 165,612 | ||||||
| PNC Financial Services Group, Inc. | 47,262 | 7,318,521 | ||||||
| Truist Financial Corp. | 987 | 36,440 | ||||||
| Wells Fargo & Co. | 273,488 | 13,461,079 | ||||||
| Western Alliance Bancorp | 380 | 25,000 | ||||||
| 100,316,712 | ||||||||
| Diversified Financial Services — 4.7% | ||||||||
| American Express Co. | 57,535 | 10,778,607 | ||||||
| Apollo Global Management, Inc. | 614 | 57,219 | ||||||
| Ares Management Corp. Class A | 474 | 56,368 | ||||||
| BlackRock, Inc. | 81 | 65,756 | ||||||
| Cboe Global Markets, Inc. | 22,170 | 3,958,675 | ||||||
| Charles Schwab Corp. | 219,457 | 15,098,642 | ||||||
| CME Group, Inc. | 35,803 | 7,540,112 | ||||||
| Discover Financial Services | 637 | 71,599 | ||||||
| Intercontinental Exchange, Inc. | 1,157 | 148,593 | ||||||
| LPL Financial Holdings, Inc. | 22,999 | 5,235,032 | ||||||
| Mastercard, Inc. Class A | 48,995 | 20,896,857 | ||||||
| Synchrony Financial | 300 | 11,457 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Tradeweb Markets, Inc. Class A | 301 | $ | 27,355 | |||||
| Visa, Inc. Class A | 173,661 | 45,212,641 | ||||||
| 109,158,913 | ||||||||
| Insurance — 4.9% | ||||||||
| Allstate Corp. | 88,063 | 12,327,059 | ||||||
| American International Group, Inc. | 3,678 | 249,184 | ||||||
| Berkshire Hathaway, Inc. Class B (a) | 86,743 | 30,937,758 | ||||||
| Chubb Ltd. | 63,139 | 14,269,414 | ||||||
| Corebridge Financial, Inc. | 138,380 | 2,997,311 | ||||||
| Equitable Holdings, Inc. | 2,286 | 76,124 | ||||||
| Hartford Financial Services Group, Inc. | 51,980 | 4,178,152 | ||||||
| Marsh & McLennan Cos., Inc. | 27,553 | 5,220,467 | ||||||
| MetLife, Inc. | 236,106 | 15,613,690 | ||||||
| Progressive Corp. | 91,652 | 14,598,331 | ||||||
| RenaissanceRe Holdings Ltd. | 476 | 93,296 | ||||||
| Travelers Cos., Inc. | 78,765 | 15,003,945 | ||||||
| 115,564,731 | ||||||||
| Private Equity — 0.0% | ||||||||
| KKR & Co., Inc. | 500 | 41,425 | ||||||
| Real Estate — 0.0% | ||||||||
| CBRE Group, Inc. Class A (a) | 307 | 28,579 | ||||||
| Real Estate Investment Trusts (REITS) — 1.6% | ||||||||
| American Homes 4 Rent Class A | 733 | 26,359 | ||||||
| American Tower Corp. | 965 | 208,324 | ||||||
| AvalonBay Communities, Inc. | 305 | 57,102 | ||||||
| Camden Property Trust | 100 | 9,929 | ||||||
| Equinix, Inc. | 159 | 128,057 | ||||||
| Equity LifeStyle Properties, Inc. | 124,799 | 8,803,322 | ||||||
| Essex Property Trust, Inc. | 293 | 72,646 | ||||||
| Extra Space Storage, Inc. | 19,239 | 3,084,589 | ||||||
| Kimco Realty Corp. | 635 | 13,532 | ||||||
| Prologis, Inc. | 43,156 | 5,752,695 | ||||||
| Public Storage | 44,444 | 13,555,420 | ||||||
| Rexford Industrial Realty, Inc. | 1,604 | 89,984 | ||||||
| Simon Property Group, Inc. | 341 | 48,640 | ||||||
| Sun Communities, Inc. | 80 | 10,692 | ||||||
| Welltower, Inc. | 1,012 | 91,252 | ||||||
| Weyerhaeuser Co. | 159,621 | 5,550,022 | ||||||
| 37,502,565 | ||||||||
| 362,612,925 | ||||||||
| Industrial — 8.3% | ||||||||
| Aerospace & Defense — 1.4% | ||||||||
| Airbus SE | 26,490 | 4,088,951 | ||||||
| Boeing Co. (a) | 1,509 | 393,336 | ||||||
| General Dynamics Corp. | 58,548 | 15,203,159 | ||||||
| Howmet Aerospace, Inc. | 1,849 | 100,068 | ||||||
| L3 Harris Technologies, Inc. | 37,591 | 7,917,416 | ||||||
| Lockheed Martin Corp. | 180 | 81,583 | ||||||
| Northrop Grumman Corp. | 7,168 | 3,355,628 | ||||||
| RTX Corp. | 1,340 | 112,748 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TransDigm Group, Inc. | 126 | $ | 127,462 | |||||
| 31,380,351 | ||||||||
| Building Materials — 0.5% | ||||||||
| Carrier Global Corp. | 154,080 | 8,851,896 | ||||||
| Johnson Controls International PLC | 733 | 42,250 | ||||||
| Martin Marietta Materials, Inc. | 5,076 | 2,532,467 | ||||||
| Trane Technologies PLC | 140 | 34,146 | ||||||
| Vulcan Materials Co. | 310 | 70,373 | ||||||
| West Fraser Timber Co. Ltd. | 782 | 66,924 | ||||||
| 11,598,056 | ||||||||
| Electrical Components & Equipment — 0.6% | ||||||||
| AMETEK, Inc. | 85,282 | 14,062,149 | ||||||
| Emerson Electric Co. | 74 | 7,202 | ||||||
| 14,069,351 | ||||||||
| Electronics — 1.1% | ||||||||
| Amphenol Corp. Class A | 113,421 | 11,243,424 | ||||||
| Honeywell International, Inc. | 38,295 | 8,030,844 | ||||||
| TE Connectivity Ltd. | 44,329 | 6,228,225 | ||||||
| 25,502,493 | ||||||||
| Environmental Controls — 0.1% | ||||||||
| Republic Services, Inc. | 273 | 45,021 | ||||||
| Veralto Corp. | 35,143 | 2,890,863 | ||||||
| Waste Connections, Inc. | 720 | 107,474 | ||||||
| 3,043,358 | ||||||||
| Hand & Machine Tools — 0.0% | ||||||||
| Stanley Black & Decker, Inc. | 1,711 | 167,849 | ||||||
| Machinery – Construction & Mining — 0.0% | ||||||||
| Caterpillar, Inc. | 2,410 | 712,565 | ||||||
| Machinery – Diversified — 1.3% | ||||||||
| Deere & Co. | 8,885 | 3,552,845 | ||||||
| Dover Corp. | 11,852 | 1,822,956 | ||||||
| Esab Corp. | 188 | 16,285 | ||||||
| IDEX Corp. | 42,627 | 9,254,748 | ||||||
| Ingersoll Rand, Inc. | 1,456 | 112,607 | ||||||
| Otis Worldwide Corp. | 470 | 42,051 | ||||||
| Rockwell Automation, Inc. | 126 | 39,120 | ||||||
| Westinghouse Air Brake Technologies Corp. | 122,055 | 15,488,779 | ||||||
| 30,329,391 | ||||||||
| Miscellaneous - Manufacturing — 1.3% | ||||||||
| 3M Co. | 432 | 47,226 | ||||||
| General Electric Co. | 104,436 | 13,329,167 | ||||||
| Siemens AG Registered | 34,614 | 6,492,551 | ||||||
| Teledyne Technologies, Inc. (a) | 20,773 | 9,270,782 | ||||||
| 29,139,726 | ||||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Packaging & Containers — 0.0% | ||||||||
| Ball Corp. | 1,137 | $ | 65,400 | |||||
| Packaging Corp. of America | 169 | 27,532 | ||||||
| Westrock Co. | 944 | 39,195 | ||||||
| 132,127 | ||||||||
| Shipbuilding — 0.0% | ||||||||
| Huntington Ingalls Industries, Inc. | 153 | 39,725 | ||||||
| Transportation — 2.0% | ||||||||
| Canadian National Railway Co. | 762 | 95,730 | ||||||
| Canadian Pacific Kansas City Ltd. (d) | 503 | 39,767 | ||||||
| CSX Corp. | 620,002 | 21,495,469 | ||||||
| FedEx Corp. | 407 | 102,959 | ||||||
| JB Hunt Transport Services, Inc. | 201 | 40,148 | ||||||
| Norfolk Southern Corp. | 23,388 | 5,528,455 | ||||||
| Old Dominion Freight Line, Inc. | 20,632 | 8,362,769 | ||||||
| Saia, Inc. (a) | 215 | 94,217 | ||||||
| Union Pacific Corp. | 48,263 | 11,854,358 | ||||||
| 47,613,872 | ||||||||
| 193,728,864 | ||||||||
| Technology — 26.9% | ||||||||
| Commercial Services — 0.0% | ||||||||
| Celonis SE (Acquired 6/17/21, Cost $435,243) (a) (b) (c) (e) | 1,177 | 262,565 | ||||||
| Computers — 5.5% | ||||||||
| Accenture PLC Class A | 32,261 | 11,320,707 | ||||||
| Apple, Inc. | 600,762 | 115,664,708 | ||||||
| Fortinet, Inc. (a) | 1,377 | 80,596 | ||||||
| Pure Storage, Inc. Class A (a) | 2,483 | 88,544 | ||||||
| Western Digital Corp. (a) | 1,359 | 71,171 | ||||||
| Zscaler, Inc. (a) | 311 | 68,905 | ||||||
| 127,294,631 | ||||||||
| Office & Business Equipment — 0.0% | ||||||||
| Zebra Technologies Corp. Class A (a) | 92 | 25,146 | ||||||
| Semiconductors — 9.1% | ||||||||
| Advanced Micro Devices, Inc. (a) | 57,463 | 8,470,621 | ||||||
| Analog Devices, Inc. | 52,790 | 10,481,982 | ||||||
| Applied Materials, Inc. | 103,830 | 16,827,728 | ||||||
| ASML Holding NV | 14,867 | 11,253,130 | ||||||
| Broadcom, Inc. | 689 | 769,096 | ||||||
| Entegris, Inc. | 1,271 | 152,291 | ||||||
| Intel Corp. | 207,122 | 10,407,880 | ||||||
| KLA Corp. | 14,252 | 8,284,688 | ||||||
| Lam Research Corp. | 17,958 | 14,065,783 | ||||||
| Lattice Semiconductor Corp. (a) | 369 | 25,457 | ||||||
| Marvell Technology, Inc. | 800 | 48,248 | ||||||
| Micron Technology, Inc. | 169,470 | 14,462,570 | ||||||
| Monolithic Power Systems, Inc. | 106 | 66,863 | ||||||
| NVIDIA Corp. | 150,434 | 74,497,925 | ||||||
| NXP Semiconductors NV | 69,397 | 15,939,103 | ||||||
| ON Semiconductor Corp. (a) | 590 | 49,283 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| QUALCOMM, Inc. | 100,809 | $ | 14,580,006 | |||||
| Texas Instruments, Inc. | 78,210 | 13,331,677 | ||||||
| 213,714,331 | ||||||||
| Software — 12.3% | ||||||||
| Adobe, Inc. (a) | 18,483 | 11,026,958 | ||||||
| Atlassian Corp. Class A (a) | 25,314 | 6,021,188 | ||||||
| Autodesk, Inc. (a) | 140 | 34,087 | ||||||
| Broadridge Financial Solutions, Inc. | 24,666 | 5,075,030 | ||||||
| Cadence Design Systems, Inc. (a) | 19,430 | 5,292,149 | ||||||
| Canva, Inc. (Acquired 12/17/21-12/22/21, Cost $872,531) (a) (b) (c) (e) | 512 | 546,130 | ||||||
| Ceridian HCM Holding, Inc. (a) | 29,884 | 2,005,814 | ||||||
| Descartes Systems Group, Inc. (a) | 636 | 53,462 | ||||||
| DocuSign, Inc. (a) | 3,054 | 181,560 | ||||||
| Dynatrace, Inc. (a) | 93,443 | 5,110,398 | ||||||
| Epic Games, Inc. (Acquired 6/18/20-3/29/21, Cost $2,322,065) (a) (b) (c) (e) | 3,487 | 1,641,331 | ||||||
| Fair Isaac Corp. (a) | 33 | 38,412 | ||||||
| Fiserv, Inc. (a) | 207,368 | 27,546,765 | ||||||
| Intuit, Inc. | 22,144 | 13,840,664 | ||||||
| Microsoft Corp. | 444,208 | 167,039,976 | ||||||
| MongoDB, Inc. (a) | 4,097 | 1,675,059 | ||||||
| MSCI, Inc. | 48 | 27,151 | ||||||
| Roper Technologies, Inc. | 14,089 | 7,680,900 | ||||||
| Salesforce, Inc. (a) | 55,959 | 14,725,051 | ||||||
| Samsara, Inc. Class A (a) | 794 | 26,504 | ||||||
| ServiceNow, Inc. (a) | 20,349 | 14,376,365 | ||||||
| Snowflake, Inc. Class A (a) | 11,316 | 2,251,884 | ||||||
| Stripe, Inc., Class B (Acquired 12/17/19, Cost $295,694) (a) (b) (c) (e) | 18,846 | 421,020 | ||||||
| Synopsys, Inc. (a) | 346 | 178,159 | ||||||
| Workday, Inc. Class A (a) | 112 | 30,919 | ||||||
| 286,846,936 | ||||||||
| 628,143,609 | ||||||||
| Utilities — 1.7% | ||||||||
| Electric — 1.7% | ||||||||
| Ameren Corp. | 92,448 | 6,687,688 | ||||||
| CenterPoint Energy, Inc. | 900 | 25,713 | ||||||
| CMS Energy Corp. | 1,626 | 94,422 | ||||||
| Constellation Energy Corp. | 127,171 | 14,865,018 | ||||||
| Dominion Energy, Inc. | 4,390 | 206,330 | ||||||
| Evergy, Inc. | 180 | 9,396 | ||||||
| FirstEnergy Corp. | 46,449 | 1,702,820 | ||||||
| NextEra Energy, Inc. | 162,953 | 9,897,765 | ||||||
| NRG Energy, Inc. | 39,164 | 2,024,779 | ||||||
| PG&E Corp. | 12,192 | 219,822 | ||||||
| PPL Corp. | 1,921 | 52,059 | ||||||
| Southern Co. | 65,413 | 4,586,760 | ||||||
| 40,372,572 | ||||||||
| Gas — 0.0% | ||||||||
| NiSource, Inc. | 521 | 13,833 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| $ | 40,386,405 | |||||||
| TOTAL COMMON STOCK (Cost $1,935,632,493) | 2,303,250,091 | |||||||
| PREFERRED STOCK — 0.5% | ||||||||
| Consumer, Cyclical — 0.1% | ||||||||
| Auto Manufacturers — 0.1% | ||||||||
| Dr Ing hc F Porsche AG 1.262% | ||||||||
| (f) | 27,383 | 2,414,801 | ||||||
| Nuro, Inc., Series C, (Acquired 10/30/20-3/02/21, Cost $1,236,023) | ||||||||
| (a) (b) (c) (e) | 94,681 | 387,245 | ||||||
| Nuro, Inc., Series D, (Acquired 10/29/21, Cost $487,977) | ||||||||
| (a) (b) (c) (e) | 23,409 | 95,743 | ||||||
| Waymo LLC., Series A-2, (Acquired 5/08/20, Cost $748,934) | ||||||||
| (a) (b) (c) (e) | 8,722 | 497,590 | ||||||
| 3,395,379 | ||||||||
| Consumer, Non-cyclical — 0.0% | ||||||||
| Commercial Services — 0.0% | ||||||||
| Redwood Materials, Inc., Series C, (Acquired 5/28/21, Cost $1,059,705) | ||||||||
| (a) (b) (c) (e) | 22,355 | 1,067,135 | ||||||
| Redwood Materials, Inc., Series D, (Acquired 6/17/22, Cost $50,373) | ||||||||
| (a) (b) (c) (e) | 1,241 | 59,240 | ||||||
| 1,126,375 | ||||||||
| 1,126,375 | ||||||||
| 1,126,375 | ||||||||
| Industrial — 0.3% | ||||||||
| Electrical Components & Equipment — 0.0% | ||||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $760,988) (a) (b) (c) (e) | 18,438 | 373,923 | ||||||
| Electronics — 0.3% | ||||||||
| GM Cruise Holdings, LLC, Class F (Acquired 5/07/19, Cost $921,625) (a) (b) (c) (e) | 50,500 | 294,920 | ||||||
| GM Cruise Holdings, LLC, Class G (Acquired 1/21/21, Cost $979,851) (a) (b) (c) (e) | 37,186 | 217,166 | ||||||
| Sartorius AG 0.434% | 13,515 | 4,972,440 | ||||||
| 5,484,526 | ||||||||
| 5,858,449 | ||||||||
| Technology — 0.1% | ||||||||
| Software — 0.1% | ||||||||
| Canva, Inc., Series A (Acquired 12/17/21, Cost $49,421) (a) (b) (c) (e) | 29 | 30,933 | ||||||
| Canva, Inc., Series A-3 (Acquired 12/17/21, Cost $13,633) (a) (b) (c) (e) | 8 | 8,533 | ||||||
| Celonis SE, Series D (Acquired 6/17/21-10/04/22, Cost $1,306,468) (a) (b) (c) (e) | 3,533 | 788,142 | ||||||
| Formagrid, Inc., Series F (Acquired 12/08/21, Cost $1,130,824) (a) (b) (c) (e) | 6,038 | 290,186 | ||||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Rappi, Inc., Series E (Acquired 9/08/20-9/24/20, Cost $1,092,516) (a) (b) (c) (e) | 18,286 | $ | 415,458 | |||||
| 1,533,252 | ||||||||
| TOTAL PREFERRED STOCK (Cost $17,255,279) | 11,913,455 | |||||||
| TOTAL EQUITIES (Cost $1,952,887,772) | 2,315,163,546 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,952,887,772) | 2,315,163,546 | |||||||
| SHORT-TERM INVESTMENTS — 1.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.0% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 40,133 | 40,133 | ||||||
| Mutual Fund — 1.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 23,376,189 | 23,376,189 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $23,416,322) | 23,416,322 | |||||||
| TOTAL INVESTMENTS — 99.9% (Cost $1,976,304,094) (h) | 2,338,579,868 | |||||||
| Other Assets/(Liabilities) — 0.1% | 1,311,179 | |||||||
| NET ASSETS — 100.0% | $ | 2,339,891,047 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $8,320,968 or 0.36% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (c) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $8,320,968 or 0.36% of net assets. |
| (d) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $15,489,683 or 0.66% of net assets. The Fund received $15,843,455 of non-cash collateral (U.S. Treasury and/or Agency obligations) related to securities lending activity. This amount is not reflected on the Portfolio of Investments. (Note 2). |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $2,414,801 or 0.10% of net assets. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 95.7% | ||||||||
| CORPORATE DEBT — 0.2% | ||||||||
| Health Care – Services — 0.2% | ||||||||
| Health Care Service Corp. A Mutual Legal Reserve Co. | ||||||||
| 1.500% 6/01/25 (a) | $ | 545,000 | $ | 517,275 | ||||
| TOTAL CORPORATE DEBT (Cost $523,607) | 517,275 | |||||||
| MUNICIPAL OBLIGATIONS — 0.1% | ||||||||
| California State University, Revenue Bond | ||||||||
| 0.563% 11/01/24 | 125,000 | 120,556 | ||||||
| City & County of Denver Co. Airport System Revenue, Revenue Bond | ||||||||
| 1.115% 11/15/24 | 30,000 | 28,994 | ||||||
| City of Atlanta GA Water & Wastewater Revenue, Revenue Bond | ||||||||
| 0.616% 11/01/24 | 15,000 | 14,484 | ||||||
| Dallas Area Rapid Transit, Revenue Bond | ||||||||
| 0.761% 12/01/24 | 10,000 | 9,629 | ||||||
| Tobacco Settlement Finance Authority, Revenue Bond | ||||||||
| 1.497% 6/01/24 | 65,000 | 63,944 | ||||||
| 237,607 | ||||||||
| TOTAL MUNICIPAL OBLIGATIONS (Cost $245,000) | 237,607 | |||||||
| NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.1% | ||||||||
| Other Asset-Backed Securities — 0.0% | ||||||||
| BRE Grand Islander Timeshare Issuer LLC, Series 2019-A, Class A | ||||||||
| 3.280% 9/26/33 (a) | 29,076 | 27,701 | ||||||
| Sierra Timeshare Receivables Funding LLC, Series 2019-3A, Class A | ||||||||
| 2.340% 8/20/36 (a) | 22,550 | 22,085 | ||||||
| 49,786 | ||||||||
| Whole Loan Collateral Collateralized Mortgage Obligations — 0.1% | ||||||||
| OBX Trust, Series 2020-EXP1, Class 2A1, 1 mo. USD Term SOFR + 0.864% | ||||||||
| 6.220% FRN 2/25/60 (a) | 17,001 | 15,915 | ||||||
| Sequoia Mortgage Trust | ||||||||
| Series 2017-CH1, Class A2, 3.500% VRN 8/25/47 (a) (b) | 10,316 | 9,475 | ||||||
| Series 2017-CH1, Class A13, 4.000% VRN 8/25/47 (a) (b) | 28,047 | 26,376 | ||||||
| Series 2018-CH2, Class A3, 4.000% VRN 6/25/48 (a) (b) | 7,292 | 6,744 | ||||||
| Series 2018-CH3, Class A2, 4.000% VRN 8/25/48 (a) (b) | 2,349 | 2,268 | ||||||
| 60,778 | ||||||||
| TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost $116,802) | 110,564 | |||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (C) — 0.1% | ||||||||
| Collateralized Mortgage Obligations — 0.0% | ||||||||
| Government National Mortgage Association REMICS Series 2019-65, Class B 3.500% 5/20/49 | $ | 44,174 | $ | 41,098 | ||||
| Whole Loans — 0.1% | ||||||||
| Federal National Mortgage Association Connecticut Avenue Securities | ||||||||
| Series 2018-C03, Class 1EB2, 30 day USD SOFR Average + 0.964% 6.302% FRN 10/25/30 | 104,781 | 104,814 | ||||||
| Series 2018-C03, Class 1ED2, 30 day USD SOFR Average + 0.964% 6.302% FRN 10/25/30 | 5,910 | 5,898 | ||||||
| Series 2017-C05, Class 1ED3, 30 day USD SOFR Average + 1.314% 6.652% FRN 1/25/30 | 3,082 | 3,082 | ||||||
| Series 2017-C06, Class 1M2B, 30 day USD SOFR Average + 2.764% 8.102% FRN 2/25/30 | 81,231 | 82,214 | ||||||
| 196,008 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $242,078) | 237,106 | |||||||
| U.S. TREASURY OBLIGATIONS — 95.2% | ||||||||
| U.S. Treasury Bonds & Notes — 95.2% | ||||||||
| U.S. Treasury Inflation-Indexed Notes | ||||||||
| 0.125% 4/15/25 | 34,865,794 | 33,620,205 | ||||||
| 0.125% 10/15/25 | 19,369,598 | 18,624,567 | ||||||
| 0.125% 4/15/26 (d) | 18,346,541 | 17,462,194 | ||||||
| 0.125% 10/15/26 | 19,932,242 | 18,926,566 | ||||||
| 0.125% 4/15/27 | 36,751,777 | 34,532,048 | ||||||
| 1.250% 4/15/28 | 49,222,017 | 47,936,344 | ||||||
| 1.375% 7/15/33 | 2,501,245 | 2,424,752 | ||||||
| 1.625% 10/15/27 | 19,267,499 | 19,120,016 | ||||||
| 2.375% 10/15/28 | 7,827,142 | 8,061,619 | ||||||
| 200,708,311 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $203,752,892) | 200,708,311 | |||||||
| TOTAL BONDS & NOTES (Cost $204,880,379) | 201,810,863 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $204,880,379) | 201,810,863 | |||||||
| SHORT-TERM INVESTMENTS — 3.6% | ||||||||
| Number of Shares | ||||||||
| Mutual Fund — 3.1% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 6,580,644 | 6,580,644 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.5% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (e) | $ | 1,057,770 | 1,057,770 | |||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $7,638,414) | $ | 7,638,414 | ||||||
| TOTAL INVESTMENTS — 99.3% (Cost $212,518,793) (f) | 209,449,277 | |||||||
| Other Assets/(Liabilities) — 0.7% | 1,431,350 | |||||||
| NET ASSETS — 100.0% | $ | 210,880,627 | ||||||
Abbreviation Legend
| FRN | Floating Rate Note |
| REMICS | Real Estate Mortgage Investment Conduits |
| SOFR | Secured Overnight Financing Rate |
| VRN | Variable Rate Note |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $627,839 or 0.30% of net assets. |
| (b) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2023. |
| (c) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (d) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (e) | Maturity value of $1,057,958. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,078,961. |
| (f) | See Note 3 for aggregate cost for federal tax purposes. |
| Exchange-Traded Options Written | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 111.50 | 189 | USD | 21,336,328 | $ | (333,703) | $ | (141,415) | $ | (192,288) | |||||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| BNP Paribas SA | 1/19/24 | CHF | 455,000 | USD | 508,444 | $ | 33,393 | |||||||||
| Citibank N.A. | 1/19/24 | AUD | 785,000 | USD | 511,121 | 24,093 | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 503,406 | CAD | 685,000 | (13,684) | ||||||||||
| Citibank N.A. | 1/19/24 | USD | 500,532 | AUD | 785,000 | (34,683) | ||||||||||
| Deutsche Bank AG | 1/19/24 | CAD | 685,000 | USD | 500,260 | 16,830 | ||||||||||
| Goldman Sachs International | 1/19/24 | USD | 499,192 | AUD | 785,000 | (36,022) | ||||||||||
| JP Morgan Chase Bank N.A. | 1/19/24 | AUD | 785,000 | USD | 511,351 | 23,863 | ||||||||||
| UBS AG | 1/19/24 | USD | 504,923 | CHF | 455,000 | (36,913) | ||||||||||
| $ | (23,123) | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Note 10 Year | 3/19/24 | 62 | $ | 6,845,288 | $ | 153,931 | ||||||||
| Short | ||||||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 23 | $ | (2,634,748) | $ | (79,611) | ||||||||
| 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 2.960% | Maturity | U.S. Consumer Price Index | Maturity | 8/02/24 | USD | 1,376,000 | $ | 86,199 | $ | — | $ | 86,199 | ||||||||||||||||||||
| Fixed 2.953% | Maturity | U.S. Consumer Price Index | Maturity | 8/03/24 | USD | 3,133,000 | 196,302 | — | 196,302 | |||||||||||||||||||||||
| Fixed 3.113% | Maturity | U.S. Consumer Price Index | Maturity | 8/22/24 | USD | 1,370,000 | (7,204) | — | (7,204) | |||||||||||||||||||||||
| Fixed 3.129% | Maturity | U.S. Consumer Price Index | Maturity | 8/22/24 | USD | 1,370,000 | (7,656) | — | (7,656) | |||||||||||||||||||||||
| $ | 267,641 | $ | — | $ | 267,641 | |||||||||||||||||||||||||||
Currency Legend
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 94.8% | ||||||||
| COMMON STOCK — 94.3% | ||||||||
| Australia — 9.0% | ||||||||
| Bellevue Gold Ltd. (a) (b) | 475,791 | $ | 545,850 | |||||
| BHP Group Ltd. | 358,890 | 12,302,946 | ||||||
| BlueScope Steel Ltd. | 17,504 | 278,569 | ||||||
| Capricorn Metals Ltd. (b) | 217,610 | 700,562 | ||||||
| Champion Iron Ltd. (a) | 76,586 | 435,886 | ||||||
| Emerald Resources NL (a) (b) | 825,777 | 1,704,804 | ||||||
| Glencore PLC | 767,370 | 4,603,636 | ||||||
| Goodman Group | 92,838 | 1,594,078 | ||||||
| Northern Star Resources Ltd. | 299,809 | 2,804,534 | ||||||
| Red 5 Ltd. (a) (b) | 1,407,822 | 296,574 | ||||||
| Rio Tinto Ltd. | 21,686 | 1,998,567 | ||||||
| Rio Tinto PLC | 42,144 | 3,129,952 | ||||||
| Scentre Group | 735,415 | 1,491,529 | ||||||
| 31,887,487 | ||||||||
| Austria — 0.4% | ||||||||
| OMV AG | 17,853 | 784,817 | ||||||
| voestalpine AG | 15,359 | 484,516 | ||||||
| 1,269,333 | ||||||||
| Bahrain — 0.1% | ||||||||
| Aluminium Bahrain BSC | 102,041 | 303,186 | ||||||
| Belgium — 0.6% | ||||||||
| Shurgard Self Storage Ltd. | 24,499 | 1,216,539 | ||||||
| Warehouses De Pauw CVA | 26,295 | 825,515 | ||||||
| 2,042,054 | ||||||||
| Bosnia and Herzegowina — 0.2% | ||||||||
| Adriatic Metals PLC CDI (b) | 239,596 | 653,206 | ||||||
| Brazil — 2.5% | ||||||||
| ERO Copper Corp. (a) (b) | 85,151 | 1,346,299 | ||||||
| Vale SA Sponsored ADR | 246,445 | 3,908,618 | ||||||
| Wheaton Precious Metals Corp. | 72,572 | 3,580,266 | ||||||
| 8,835,183 | ||||||||
| Burkina Faso — 0.5% | ||||||||
| Endeavour Mining PLC | 70,967 | 1,594,421 | ||||||
| Canada — 9.5% | ||||||||
| Agnico Eagle Mines Ltd. | 11,724 | 643,061 | ||||||
| Agnico Eagle Mines Ltd. (AEM CN) | 25,386 | 1,391,867 | ||||||
| Alamos Gold, Inc. Class A (AGI CN) | 86,576 | 1,164,322 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Alamos Gold, Inc. Class A (AGI US) | 43,825 | $ | 590,323 | |||||
| B2Gold Corp. | 118,602 | 374,782 | ||||||
| Barrick Gold Corp. | 47,466 | 858,660 | ||||||
| Boardwalk REIT | 11,574 | 623,138 | ||||||
| Cameco Corp. | 28,638 | 1,234,298 | ||||||
| Canadian Apartment Properties REIT | 14,714 | 541,899 | ||||||
| Canadian National Railway Co. | 6,364 | 799,913 | ||||||
| Canadian Natural Resources Ltd. (a) | 32,854 | 2,152,414 | ||||||
| Canadian Pacific Kansas City Ltd. (a) | 9,468 | 748,540 | ||||||
| Enbridge, Inc. | 58,147 | 2,094,455 | ||||||
| Filo Corp. (b) | 29,105 | 463,685 | ||||||
| Franco-Nevada Corp. | 37,063 | 4,105,307 | ||||||
| G Mining Ventures Corp. (b) | 271,715 | 289,135 | ||||||
| Granite Real Estate Investment Trust | 7,961 | 458,296 | ||||||
| Ivanhoe Mines Ltd. Class A (a) (b) | 292,686 | 2,838,395 | ||||||
| K92 Mining, Inc. (b) | 139,203 | 683,907 | ||||||
| Karora Resources, Inc. (b) | 283,605 | 1,042,343 | ||||||
| Kinross Gold Corp. | 46,710 | 282,595 | ||||||
| Lundin Gold, Inc. | 43,009 | 536,862 | ||||||
| NGEx Minerals Ltd. (a) (b) | 45,210 | 244,295 | ||||||
| Nutrien Ltd. | 14,773 | 832,163 | ||||||
| Osisko Gold Royalties Ltd. (a) | 39,577 | 564,810 | ||||||
| Osisko Mining, Inc. (b) | 320,101 | 645,009 | ||||||
| Skeena Resources Ltd. (b) | 81,539 | 396,911 | ||||||
| Snowline Gold Corp. (b) | 41,259 | 154,131 | ||||||
| StorageVault Canada, Inc. (a) | 119,998 | 473,635 | ||||||
| Suncor Energy, Inc. | 51,143 | 1,638,444 | ||||||
| Teck Resources Ltd. Class B | 53,140 | 2,246,228 | ||||||
| Wesdome Gold Mines Ltd. (b) | 243,427 | 1,416,416 | ||||||
| West Fraser Timber Co. Ltd. | 9,752 | 834,298 | ||||||
| 33,364,537 | ||||||||
| Chile — 0.3% | ||||||||
| Antofagasta PLC | 14,976 | 320,360 | ||||||
| Sociedad Quimica y Minera de Chile SA Sponsored ADR | 13,783 | 830,012 | ||||||
| 1,150,372 | ||||||||
| China — 0.3% | ||||||||
| Aluminum Corp. of China Ltd. Class H | 292,000 | 146,235 | ||||||
| China Hongqiao Group Ltd. | 178,000 | 146,140 | ||||||
| H World Group Ltd. | 56,800 | 189,546 | ||||||
| Zijin Mining Group Co. Ltd. Class H | 294,000 | 480,406 | ||||||
| 962,327 | ||||||||
| Egypt — 0.1% | ||||||||
| Centamin PLC | 302,049 | 384,718 | ||||||
| France — 1.6% | ||||||||
| Air Liquide SA | 6,685 | 1,300,442 | ||||||
| Gecina SA | 9,473 | 1,156,856 | ||||||
| TotalEnergies SE | 49,310 | 3,349,552 | ||||||
| 5,806,850 | ||||||||
| Germany — 0.4% | ||||||||
| LEG Immobilien SE (b) | 15,640 | 1,369,611 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Ghana — 0.2% | ||||||||
| Kosmos Energy Ltd. (b) | 129,322 | $ | 867,750 | |||||
| Hong Kong — 0.6% | ||||||||
| Kerry Properties Ltd. | 165,000 | 300,938 | ||||||
| Sun Hung Kai Properties Ltd. | 111,000 | 1,194,555 | ||||||
| Wharf Real Estate Investment Co. Ltd. | 218,000 | 741,528 | ||||||
| 2,237,021 | ||||||||
| India — 0.2% | ||||||||
| Hindalco Industries Ltd. | 43,742 | 322,226 | ||||||
| Nexus Select Trust | 288,924 | 471,563 | ||||||
| 793,789 | ||||||||
| Japan — 3.0% | ||||||||
| ARE Holdings, Inc. | 6,900 | 95,347 | ||||||
| Comforia Residential REIT, Inc. | 147 | 330,037 | ||||||
| Hoshino Resorts REIT, Inc. | 96 | 385,038 | ||||||
| Industrial & Infrastructure Fund Investment Corp. | 377 | 372,574 | ||||||
| Invincible Investment Corp. | 2,063 | 891,036 | ||||||
| Katitas Co. Ltd. | 44,100 | 682,737 | ||||||
| Kyoritsu Maintenance Co. Ltd. | 5,900 | 250,161 | ||||||
| Mitsui Fudosan Co. Ltd. | 93,400 | 2,282,860 | ||||||
| Mitsui Fudosan Logistics Park, Inc. | 297 | 962,248 | ||||||
| Nippon Steel Corp. (a) | 90,600 | 2,070,256 | ||||||
| Shin-Etsu Chemical Co. Ltd. | 31,800 | 1,328,802 | ||||||
| Tokyo Tatemono Co. Ltd. | 38,800 | 579,511 | ||||||
| Tokyu REIT, Inc. | 257 | 309,992 | ||||||
| 10,540,599 | ||||||||
| Kazakhstan — 0.2% | ||||||||
| NAC Kazatomprom JSC GDR (c) | 18,777 | 771,744 | ||||||
| Luxembourg — 0.4% | ||||||||
| ArcelorMittal SA | 51,738 | 1,467,257 | ||||||
| Mexico — 0.8% | ||||||||
| Grupo Mexico SAB de CV Series B | 194,228 | 1,079,515 | ||||||
| Industrias Penoles SAB de CV (a) (b) | 38,783 | 565,746 | ||||||
| Southern Copper Corp. | 15,503 | 1,334,343 | ||||||
| 2,979,604 | ||||||||
| Netherlands — 0.9% | ||||||||
| Shell PLC | 94,667 | 3,075,654 | ||||||
| Norway — 1.0% | ||||||||
| Equinor ASA | 37,713 | 1,194,733 | ||||||
| Norsk Hydro ASA | 284,963 | 1,916,930 | ||||||
| Seadrill Ltd. (b) | 11,141 | 526,747 | ||||||
| 3,638,410 | ||||||||
| Portugal — 0.2% | ||||||||
| Galp Energia SGPS SA | 55,056 | 809,878 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Republic of Korea — 0.3% | ||||||||
| Korea Zinc Co. Ltd. | 1,120 | $ | 431,876 | |||||
| LG Chem Ltd. | 1,306 | 503,041 | ||||||
| 934,917 | ||||||||
| Russia — 0.0% | ||||||||
| Alrosa PJSC (b) (d) (e) | 688,100 | — | ||||||
| MMC Norlisk Nickel PJSC (b) (d) (e) | 2,654 | — | ||||||
| Polyus PJSC (b) (d) (e) | 2,282 | — | ||||||
| — | ||||||||
| Singapore — 0.5% | ||||||||
| CapitaLand Integrated Commercial Trust | 754,700 | 1,173,968 | ||||||
| Mapletree Industrial Trust | 332,600 | 631,278 | ||||||
| 1,805,246 | ||||||||
| South Africa — 1.8% | ||||||||
| Anglo American Platinum Ltd. | 22,563 | 1,186,204 | ||||||
| Anglo American PLC | 105,721 | 2,652,879 | ||||||
| Impala Platinum Holdings Ltd. (a) | 188,521 | 941,766 | ||||||
| Northam Platinum Holdings Ltd. | 134,623 | 1,032,575 | ||||||
| Sibanye Stillwater Ltd. | 469,253 | 634,221 | ||||||
| 6,447,645 | ||||||||
| Spain — 0.1% | ||||||||
| Cellnex Telecom SA (c) | 12,601 | 497,880 | ||||||
| Sweden — 0.9% | ||||||||
| Boliden AB | 50,063 | 1,561,865 | ||||||
| Sandvik AB | 42,455 | 918,887 | ||||||
| SSAB AB Class A | 68,679 | 522,346 | ||||||
| 3,003,098 | ||||||||
| United Kingdom — 2.4% | ||||||||
| Big Yellow Group PLC | 45,198 | 702,399 | ||||||
| BP PLC Sponsored ADR | 63,666 | 2,253,776 | ||||||
| Central Asia Metals PLC | 105,224 | 241,771 | ||||||
| Derwent London PLC | 31,922 | 955,726 | ||||||
| InterContinental Hotels Group PLC | 5,168 | 466,766 | ||||||
| Persimmon PLC | 46,040 | 812,031 | ||||||
| Segro PLC | 93,801 | 1,055,808 | ||||||
| TechnipFMC PLC | 62,614 | 1,261,046 | ||||||
| UNITE Group PLC | 46,668 | 618,916 | ||||||
| 8,368,239 | ||||||||
| United States — 54.6% | ||||||||
| Acadia Realty Trust | 116,105 | 1,972,624 | ||||||
| Alcoa Corp. | 9,559 | 325,006 | ||||||
| Alexandria Real Estate Equities, Inc. | 9,826 | 1,245,642 | ||||||
| Ameren Corp. | 4,031 | 291,603 | ||||||
| American Homes 4 Rent Class A | 97,474 | 3,505,165 | ||||||
| American Tower Corp. | 30,051 | 6,487,410 | ||||||
| Apple Hospitality REIT, Inc. | 99,498 | 1,652,662 | ||||||
| AvalonBay Communities, Inc. | 23,982 | 4,489,910 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Baker Hughes Co. | 30,167 | $ | 1,031,108 | |||||
| Ball Corp. | 12,175 | 700,306 | ||||||
| Camden Property Trust | 15,414 | 1,530,456 | ||||||
| CBRE Group, Inc. Class A (b) | 7,303 | 679,836 | ||||||
| CenterPoint Energy, Inc. | 10,556 | 301,585 | ||||||
| CF Industries Holdings, Inc. | 13,597 | 1,080,961 | ||||||
| ChampionX Corp. | 17,363 | 507,173 | ||||||
| Chesapeake Energy Corp. (a) | 7,315 | 562,816 | ||||||
| Chevron Corp. | 15,497 | 2,311,533 | ||||||
| Cleveland-Cliffs, Inc. (b) | 22,367 | 456,734 | ||||||
| Commercial Metals Co. | 7,811 | 390,862 | ||||||
| ConocoPhillips | 35,266 | 4,093,325 | ||||||
| Crown Castle, Inc. | 14,242 | 1,640,536 | ||||||
| CSX Corp. | 21,455 | 743,845 | ||||||
| CubeSmart | 55,406 | 2,568,068 | ||||||
| Diamondback Energy, Inc. | 12,082 | 1,873,677 | ||||||
| Dominion Energy, Inc. | 7,152 | 336,144 | ||||||
| Douglas Emmett, Inc. | 51,117 | 741,196 | ||||||
| EastGroup Properties, Inc. | 11,630 | 2,134,570 | ||||||
| EOG Resources, Inc. | 19,078 | 2,307,484 | ||||||
| EQT Corp. | 34,972 | 1,352,018 | ||||||
| Equinix, Inc. | 11,602 | 9,344,135 | ||||||
| Equitrans Midstream Corp. | 55,715 | 567,179 | ||||||
| Equity LifeStyle Properties, Inc. | 56,688 | 3,998,771 | ||||||
| Equity Residential | 64,596 | 3,950,691 | ||||||
| Essex Property Trust, Inc. | 16,972 | 4,208,038 | ||||||
| Expro Group Holdings NV (b) | 20,807 | 331,247 | ||||||
| Extra Space Storage, Inc. | 10,218 | 1,638,252 | ||||||
| Exxon Mobil Corp. | 46,156 | 4,614,677 | ||||||
| Federal Realty Investment Trust | 2,335 | 240,622 | ||||||
| FirstEnergy Corp. | 9,968 | 365,427 | ||||||
| Freeport-McMoRan, Inc. | 145,596 | 6,198,022 | ||||||
| Gaming & Leisure Properties, Inc. | 32,458 | 1,601,802 | ||||||
| Halliburton Co. | 32,203 | 1,164,138 | ||||||
| HB Fuller Co. | 7,069 | 575,487 | ||||||
| Healthcare Realty Trust, Inc. | 72,412 | 1,247,659 | ||||||
| Hess Corp. | 20,663 | 2,978,778 | ||||||
| Hilton Worldwide Holdings, Inc. | 8,235 | 1,499,511 | ||||||
| Host Hotels & Resorts, Inc. | 49,769 | 969,002 | ||||||
| Hubbell, Inc. | 1,709 | 562,141 | ||||||
| Huntsman Corp. | 20,972 | 527,026 | ||||||
| International Flavors & Fragrances, Inc. | 4,747 | 384,365 | ||||||
| Ivanhoe Electric, Inc. (b) | 84,183 | 848,565 | ||||||
| Kilroy Realty Corp. | 36,138 | 1,439,738 | ||||||
| Kimco Realty Corp. | 36,424 | 776,195 | ||||||
| Linde PLC (LIN US) | 8,254 | 3,390,000 | ||||||
| Louisiana-Pacific Corp. | 8,513 | 602,976 | ||||||
| Marathon Petroleum Corp. | 12,940 | 1,919,778 | ||||||
| Marriott International, Inc. Class A | 2,625 | 591,964 | ||||||
| Newmont Corp. (NEM AU) | 32,502 | 1,343,213 | ||||||
| Newmont Corp. (NEM US) | 47,039 | 1,946,944 | ||||||
| NextEra Energy, Inc. | 12,946 | 786,340 | ||||||
| Noble Corp. PLC | 14,863 | 715,802 | ||||||
| Norfolk Southern Corp. | 5,042 | 1,191,828 | ||||||
| Nucor Corp. | 28,649 | 4,986,072 | ||||||
| Packaging Corp. of America | 4,325 | 704,586 | ||||||
| Pebblebrook Hotel Trust | 36,887 | 589,454 | ||||||
| PG&E Corp. | 22,786 | 410,832 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Phillips 66 | 5,014 | $ | 667,564 | |||||
| Pioneer Natural Resources Co. | 7,624 | 1,714,485 | ||||||
| Prologis, Inc. | 88,406 | 11,784,520 | ||||||
| Public Storage | 20,809 | 6,346,745 | ||||||
| Quanta Services, Inc. | 2,151 | 464,186 | ||||||
| Range Resources Corp. | 29,142 | 887,082 | ||||||
| Rayonier, Inc. | 26,110 | 872,335 | ||||||
| Regency Centers Corp. | 69,649 | 4,666,483 | ||||||
| Reliance Steel & Aluminum Co. | 9,969 | 2,788,130 | ||||||
| Rexford Industrial Realty, Inc. | 68,791 | 3,859,175 | ||||||
| Royal Gold, Inc. | 3,007 | 363,727 | ||||||
| RPM International, Inc. | 5,697 | 635,956 | ||||||
| SBA Communications Corp. | 10,268 | 2,604,889 | ||||||
| Schlumberger NV | 46,256 | 2,407,162 | ||||||
| Schneider Electric SE | 2,368 | 476,797 | ||||||
| Sherwin-Williams Co. | 4,068 | 1,268,809 | ||||||
| Simon Property Group, Inc. | 43,506 | 6,205,696 | ||||||
| SL Green Realty Corp. | 8,149 | 368,090 | ||||||
| Southern Co. | 8,668 | 607,800 | ||||||
| Southwestern Energy Co. (b) | 117,582 | 770,162 | ||||||
| Steel Dynamics, Inc. | 32,509 | 3,839,313 | ||||||
| Sun Communities, Inc. | 13,387 | 1,789,173 | ||||||
| Targa Resources Corp. | 10,686 | 928,293 | ||||||
| Tenaris SA ADR | 18,974 | 659,536 | ||||||
| Terreno Realty Corp. | 49,213 | 3,084,179 | ||||||
| Union Pacific Corp. | 3,066 | 753,071 | ||||||
| Valero Energy Corp. | 11,831 | 1,538,030 | ||||||
| Ventas, Inc. | 65,669 | 3,272,943 | ||||||
| Vulcan Materials Co. | 3,492 | 792,719 | ||||||
| Warrior Met Coal, Inc. | 7,500 | 457,275 | ||||||
| Welltower, Inc. | 62,339 | 5,621,108 | ||||||
| Weyerhaeuser Co. | 53,800 | 1,870,626 | ||||||
| Williams Cos., Inc. | 55,584 | 1,935,991 | ||||||
| 192,827,562 | ||||||||
| Vietnam — 0.6% | ||||||||
| Hoa Phat Group JSC (b) | 1,965,400 | 2,264,155 | ||||||
| Zambia — 0.1% | ||||||||
| First Quantum Minerals Ltd. | 29,564 | 242,080 | ||||||
| TOTAL COMMON STOCK (Cost $322,103,098) | 333,195,813 | |||||||
| PREFERRED STOCK — 0.5% | ||||||||
| United States — 0.5% | ||||||||
| Jetti Holdings, Inc., Series C (Acquired 5/24/21-6/30/21, Cost $130,426) | ||||||||
| (b) (d) (e) (f) | 2,253 | 299,406 | ||||||
| KoBold Metals, Inc., Series B-1 (Acquired 1/10/22, Cost $670,800) | ||||||||
| (b) (d) (e) (f) | 24,472 | 1,046,944 | ||||||
| Lilac Solutions, Inc., Series B (Acquired 9/08/21, Cost $329,342) | ||||||||
| (b) (d) (e) (f) | 25,087 | 338,389 | ||||||
| 1,684,739 | ||||||||
| TOTAL PREFERRED STOCK (Cost $1,130,568) | 1,684,739 | |||||||
| MassMutual Select T. Rowe Price Real Assets Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| TOTAL EQUITIES (Cost $323,233,666) | $ | 334,880,552 | ||||||
| MUTUAL FUNDS — 1.3% | ||||||||
| United States — 1.3% | ||||||||
| Global X Copper Miners ETF | 24,096 | 903,600 | ||||||
| iShares U.S. Home Construction ETF | 4,148 | 421,976 | ||||||
| SPDR S&P Homebuilders ETF (a) | 16,869 | 1,613,689 | ||||||
| SPDR S&P Oil & Gas Exploration & Production ETF (a) | 6,166 | 844,187 | ||||||
| VanEck Oil Services ETF (a) | 2,574 | 796,928 | ||||||
| 4,580,380 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $3,886,536) | 4,580,380 | |||||||
| TOTAL PURCHASED OPTIONS(#) — 0.0% (Cost $140,895) | 14,191 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $327,261,097) | 339,475,123 | |||||||
| SHORT-TERM INVESTMENTS — 6.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 2.1% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 7,402,151 | 7,402,151 | ||||||
| Mutual Fund — 3.1% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 11,035,137 | 11,035,137 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.3% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (h) | $ | 1,062,089 | 1,062,089 | |||||
| U.S. Treasury Bill — 0.5% | ||||||||
| U.S. Treasury Bills | ||||||||
| 5.477% 5/09/24 (i) (j) | 1,612,000 | 1,582,550 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $21,080,534) | 21,081,927 | |||||||
| TOTAL INVESTMENTS — 102.1% (Cost $348,341,631) (k) | 360,557,050 | |||||||
| Other Assets/(Liabilities) — (2.1)% | (7,357,485) | |||||||
| NET ASSETS — 100.0% | $ | 353,199,565 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
| ETF | Exchange-Traded Fund |
| GDR | Global Depositary Receipt |
| REIT | Real Estate Investment Trust |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $12,892,180 or 3.65% of net assets. The Fund received $6,072,419 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 December 31, 2023, the aggregate market value of these securities amounted to $1,269,624 or 0.36% of net assets. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $1,684,739 or 0.48% of net assets. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $1,684,739 or 0.48% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $1,062,277. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,083,418. |
| (i) | The rate shown represents yield-to-maturity. |
| (j) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (k) | See Note 3 for aggregate cost for federal tax purposes. |
| (#) OTC Options Purchased | ||||||||||||||||||||||||||||||||
| Description | Counterparty | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| Put | ||||||||||||||||||||||||||||||||
| S&P 500 Index | Morgan Stanley & Co. LLC | 1/19/24 | 4,225.00 | 101 | USD | 42,672,500 | $ | 14,191 | $ | 140,895 | $ | (126,704) | ||||||||||||||||||||
| Forward contracts | ||||||||||||||||
| Counterparty | Settlement Date | Currency Purchased | Currency Sold | Unrealized Appreciation (Depreciation) | ||||||||||||
| Bank of America N.A. | 1/12/24 | JPY | 362,804,900 | USD | 2,511,685 | $ | 64,240 | |||||||||
| Bank of America N.A. | 1/12/24 | USD | 417,455 | CZK | 9,376,250 | (1,694) | ||||||||||
| BNP Paribas SA | 1/03/24 | BRL | 8,007,500 | USD | 1,639,319 | 9,129 | ||||||||||
| BNP Paribas SA | 1/03/24 | USD | 1,644,251 | BRL | 8,007,500 | (4,197) | ||||||||||
| BNP Paribas SA | 1/12/24 | CLP | 1,459,046,000 | USD | 1,685,394 | (29,789) | ||||||||||
| BNP Paribas SA | 1/12/24 | INR | 112,077,921 | USD | 1,343,000 | 3,463 | ||||||||||
| BNP Paribas SA | 1/12/24 | MXN | 28,574,150 | USD | 1,631,373 | 48,987 | ||||||||||
| BNP Paribas SA | 1/12/24 | PLN | 6,650,000 | USD | 1,652,256 | 37,640 | ||||||||||
| BNP Paribas SA | 2/02/24 | BRL | 8,007,500 | USD | 1,637,291 | 8,483 | ||||||||||
| Citibank N.A. | 1/12/24 | GBP | 2,646,700 | USD | 3,324,963 | 48,819 | ||||||||||
| Citibank N.A. | 1/12/24 | USD | 2,496,275 | CHF | 2,182,700 | (101,105) | ||||||||||
| Deutsche Bank AG | 1/12/24 | IDR | 10,311,876,000 | USD | 664,061 | 5,613 | ||||||||||
| Goldman Sachs International | 1/12/24 | HUF | 291,891,200 | USD | 832,259 | 8,057 | ||||||||||
| Goldman Sachs International | 1/12/24 | USD | 412,263 | CZK | 9,376,250 | (6,886) | ||||||||||
| HSBC Bank USA | 1/12/24 | JPY | 383,782,799 | USD | 2,654,357 | 70,512 | ||||||||||
| UBS AG | 1/12/24 | AUD | 5,044,000 | USD | 3,320,329 | 117,907 | ||||||||||
| $ | 279,179 | |||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| Topix Index | 3/07/24 | 7 | $ | 1,165,694 | $ | 8,916 | ||||||||
| E Mini Russell 2000 Index | 3/15/24 | 73 | 6,935,380 | 538,725 | ||||||||||
| Nasdaq 100 E Mini Index | 3/15/24 | 8 | 2,608,746 | 115,014 | ||||||||||
| S&P 500 E Mini Index | 3/15/24 | 18 | 4,191,147 | 146,853 | ||||||||||
| Xae Energy | 3/15/24 | 30 | 2,583,041 | 75,859 | ||||||||||
| SPI 200 Futures | 3/21/24 | 12 | 1,525,307 | 25,333 | ||||||||||
| $ | 910,700 | |||||||||||||
| Short | ||||||||||||||
| E-Mini S&P 500 Real Estate Index | 3/15/24 | 25 | $ | (1,165,315) | $ | (73,123) | ||||||||
| Centrally Cleared Interest Rate Swaps | ||||||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | |||||||||||||||||||||||||||||||
| Rate/ Reference | Frequency | Rate/ Reference | Frequency | Termination Date | Notional Amount | Value | Upfront Premium Paid/ (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
| 12-Month USD SOFR | Annually | Fixed 5.306% | Annually | 7/14/24 | USD | 4,853,000 | $ | 1,005 | $ | — | $ | 1,005 | ||||||||||||||||||||
| OTC Total Return Swaps | |||||||||||||||||||||||||||||
| Paid by the Fund | Received by the Fund | ||||||||||||||||||||||||||||
| Rate/ Reference | No. of Contracts/ Notional | Frequency | Rate/ Reference | No. of Contracts/ Notional | Frequency | Counterparty | Termination Date | Value | Upfront Premium Received (Paid)/ Received | Unrealized Appreciation (Depreciation) | |||||||||||||||||||
| SPDR S&P Retail ETF+30 BP | 13,355 | Monthly | 1Day-SOFR+30 BP | USD 946,202 | Monthly | Goldman Sachs International | 1/16/26 | $ | (19,632) | $ | — | $ | (19,632) | ||||||||||||||||
Currency Legend
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CZK | Czech Koruna |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| PLN | Polish Zloty |
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| EQUITIES — 97.3% | ||||||||
| COMMON STOCK — 96.1% | ||||||||
| Basic Materials — 2.2% | ||||||||
| Chemicals — 1.0% | ||||||||
| Element Solutions, Inc. | 115,145 | $ | 2,664,455 | |||||
| FMC Corp. | 22,989 | 1,449,456 | ||||||
| Hawkins, Inc. | 2,912 | 205,063 | ||||||
| HB Fuller Co. | 5,022 | 408,841 | ||||||
| Orion SA | 22,502 | 623,981 | ||||||
| Quaker Chemical Corp. | 6,447 | 1,375,919 | ||||||
| RPM International, Inc. | 10,100 | 1,127,463 | ||||||
| 7,855,178 | ||||||||
| Iron & Steel — 0.3% | ||||||||
| Carpenter Technology Corp. | 5,974 | 422,959 | ||||||
| Haynes International, Inc. | 11,026 | 629,033 | ||||||
| Reliance Steel & Aluminum Co. | 5,430 | 1,518,663 | ||||||
| 2,570,655 | ||||||||
| Mining — 0.9% | ||||||||
| Cameco Corp. | 30,470 | 1,313,257 | ||||||
| Constellium SE (a) | 111,999 | 2,235,500 | ||||||
| ERO Copper Corp. (a) (b) | 23,025 | 364,042 | ||||||
| Franco-Nevada Corp. | 10,555 | 1,169,131 | ||||||
| Freeport-McMoRan, Inc. | 33,044 | 1,406,683 | ||||||
| Osisko Gold Royalties Ltd. (b) | 10,001 | 142,726 | ||||||
| Royal Gold, Inc. | 3,047 | 368,565 | ||||||
| 6,999,904 | ||||||||
| 17,425,737 | ||||||||
| Communications — 3.1% | ||||||||
| Advertising — 0.5% | ||||||||
| Advantage Solutions, Inc. (a) | 71,050 | 257,201 | ||||||
| Boston Omaha Corp. Class A (a) | 7,083 | 111,416 | ||||||
| Trade Desk, Inc. Class A (a) | 53,300 | 3,835,468 | ||||||
| 4,204,085 | ||||||||
| Internet — 0.7% | ||||||||
| Chewy, Inc. Class A (a) | 12,084 | 285,545 | ||||||
| Figs, Inc. Class A (a) (b) | 67,792 | 471,155 | ||||||
| GoDaddy, Inc. Class A (a) | 2,689 | 285,464 | ||||||
| Maplebear, Inc., Lockup Shares (Acquired 11/19/21, Cost $407,180) (a) (c) (d) | 3,368 | 79,047 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Match Group, Inc. (a) | 20,835 | $ | 760,478 | |||||
| Open Lending Corp. Class A (a) | 87,187 | 741,961 | ||||||
| Opendoor Technologies, Inc. (a) | 32,082 | 143,727 | ||||||
| Rover Group, Inc., Earnout Shares 16.00 (Acquired 8/02/21, Cost $0) (a) (c) (d) (e) | 15,883 | — | ||||||
| Spotify Technology SA (a) | 16,200 | 3,044,142 | ||||||
| 5,811,519 | ||||||||
| Media — 1.2% | ||||||||
| DISH Network Corp. Class A (a) | 43,189 | 249,200 | ||||||
| Liberty Media Corp-Liberty Formula One Class C (a) | 23,058 | 1,455,651 | ||||||
| New York Times Co. Class A | 42,023 | 2,058,707 | ||||||
| News Corp. Class A | 154,056 | 3,782,075 | ||||||
| News Corp. Class B | 17,729 | 455,990 | ||||||
| Nexstar Media Group, Inc. | 680 | 106,590 | ||||||
| Scholastic Corp. | 18,044 | 680,259 | ||||||
| Sphere Entertainment Co (a) | 14,396 | 488,888 | ||||||
| 9,277,360 | ||||||||
| Telecommunications — 0.7% | ||||||||
| Arista Networks, Inc. (a) | 5,716 | 1,346,175 | ||||||
| Corning, Inc. | 100,070 | 3,047,131 | ||||||
| DigitalBridge Group, Inc. | 24,331 | 426,766 | ||||||
| ESC GCI Liberty Inc (a) (d) (e) | 29,586 | — | ||||||
| Frontier Communications Parent, Inc. (a) | 10,543 | 267,160 | ||||||
| Viavi Solutions, Inc. (a) | 44,941 | 452,556 | ||||||
| 5,539,788 | ||||||||
| 24,832,752 | ||||||||
| Consumer, Cyclical — 11.6% | ||||||||
| Airlines — 0.5% | ||||||||
| Allegiant Travel Co. | 9,752 | 805,613 | ||||||
| Southwest Airlines Co. | 95,594 | 2,760,754 | ||||||
| Sun Country Airlines Holdings, Inc. (a) | 13,319 | 209,508 | ||||||
| 3,775,875 | ||||||||
| Apparel — 0.6% | ||||||||
| Birkenstock Holding PLC (a) | 11,865 | 578,181 | ||||||
| Oxford Industries, Inc. | 1,459 | 145,900 | ||||||
| Ralph Lauren Corp. | 18,949 | 2,732,446 | ||||||
| Skechers USA, Inc. Class A (a) | 8,406 | 524,030 | ||||||
| Steven Madden Ltd. | 17,542 | 736,764 | ||||||
| 4,717,321 | ||||||||
| Auto Manufacturers — 0.8% | ||||||||
| General Motors Co. | 70,783 | 2,542,525 | ||||||
| PACCAR, Inc. | 9,177 | 896,134 | ||||||
| Rivian Automotive, Inc. Class A (a) (b) | 143,356 | 3,363,132 | ||||||
| 6,801,791 | ||||||||
| Auto Parts & Equipment — 0.2% | ||||||||
| Dorman Products, Inc. (a) | 7,158 | 597,049 | ||||||
| Mobileye Global, Inc. Class A (a) (b) | 7,516 | 325,593 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Shyft Group, Inc. | 9,604 | $ | 117,361 | |||||
| Visteon Corp. (a) | 2,148 | 268,285 | ||||||
| 1,308,288 | ||||||||
| Distribution & Wholesale — 0.7% | ||||||||
| Pool Corp. | 328 | 130,777 | ||||||
| Rush Enterprises, Inc. Class A | 21,153 | 1,063,996 | ||||||
| SiteOne Landscape Supply, Inc. (a) | 20,905 | 3,397,062 | ||||||
| VSE Corp. | 11,442 | 739,268 | ||||||
| 5,331,103 | ||||||||
| Entertainment — 0.3% | ||||||||
| Caesars Entertainment, Inc. (a) | 22,334 | 1,047,018 | ||||||
| Liberty Media Corp-Liberty Live Class C (a) | 16,328 | 610,504 | ||||||
| Marriott Vacations Worldwide Corp. | 5,265 | 446,946 | ||||||
| Red Rock Resorts, Inc. Class A | 9,201 | 490,689 | ||||||
| SeaWorld Entertainment, Inc. (a) | 995 | 52,566 | ||||||
| 2,647,723 | ||||||||
| Food Services — 0.2% | ||||||||
| Compass Group PLC | 52,676 | 1,439,367 | ||||||
| Home Builders — 0.4% | ||||||||
| Installed Building Products, Inc. | 2,300 | 420,486 | ||||||
| LCI Industries | 3,834 | 481,972 | ||||||
| Meritage Home Corp. | 8,955 | 1,559,961 | ||||||
| Skyline Champion Corp. (a) | 13,859 | 1,029,170 | ||||||
| 3,491,589 | ||||||||
| Housewares — 0.1% | ||||||||
| Scotts Miracle-Gro Co. | 17,711 | 1,129,076 | ||||||
| Leisure Time — 0.0% | ||||||||
| Peloton Interactive, Inc. Class A (a) | 32,733 | 199,344 | ||||||
| Rad Power Bikes, Inc., Class A (Acquired 1/22/21, Cost $69,082) (a) (c) (d) (e) | 39,882 | 12,363 | ||||||
| 211,707 | ||||||||
| Lodging — 0.8% | ||||||||
| Hilton Worldwide Holdings, Inc. | 22,700 | 4,133,443 | ||||||
| MGM Resorts International | 25,611 | 1,144,300 | ||||||
| Wyndham Hotels & Resorts, Inc. | 10,523 | 846,154 | ||||||
| 6,123,897 | ||||||||
| Retail — 7.0% | ||||||||
| Abercrombie & Fitch Co. Class A (a) | 1,551 | 136,829 | ||||||
| Advance Auto Parts, Inc. | 33,394 | 2,038,036 | ||||||
| Asbury Automotive Group, Inc. (a) | 1,917 | 431,268 | ||||||
| Bath & Body Works, Inc. | 94,983 | 4,099,466 | ||||||
| Beacon Roofing Supply, Inc. (a) | 24,486 | 2,130,772 | ||||||
| BJ's Restaurants, Inc. (a) | 25,523 | 919,083 | ||||||
| Burlington Stores, Inc. (a) | 31,878 | 6,199,633 | ||||||
| Caleres, Inc. | 30,557 | 939,017 | ||||||
| Carvana Co. (a) (b) | 5,304 | 280,794 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Casey's General Stores, Inc. | 6,500 | $ | 1,785,810 | |||||
| Cava Group, Inc. (a) (b) | 91,593 | 3,936,667 | ||||||
| Chipotle Mexican Grill, Inc. (a) | 380 | 869,045 | ||||||
| Chuy's Holdings, Inc. (a) | 11,592 | 443,162 | ||||||
| Dollar General Corp. | 17,213 | 2,340,107 | ||||||
| Dollar Tree, Inc. (a) | 17,577 | 2,496,813 | ||||||
| Domino's Pizza, Inc. | 8,452 | 3,484,168 | ||||||
| Dutch Bros, Inc. Class A (a) | 27,148 | 859,777 | ||||||
| Five Below, Inc. (a) | 23,043 | 4,911,846 | ||||||
| Floor & Decor Holdings, Inc. Class A (a) | 18,008 | 2,008,973 | ||||||
| Framebridge Future Contingency Payments (Acquired 5/19/20-11/10/20, Cost $10,553) (a) (c) (d) (e) | 10,553 | 4,960 | ||||||
| Group 1 Automotive, Inc. | 1,841 | 561,026 | ||||||
| Jack in the Box, Inc. | 3,900 | 318,357 | ||||||
| Kohl's Corp. | 18,502 | 530,637 | ||||||
| Lululemon Athletica, Inc. (a) | 2,150 | 1,099,274 | ||||||
| Moncler SpA | 12,177 | 750,912 | ||||||
| MSC Industrial Direct Co., Inc. Class A | 621 | 62,882 | ||||||
| O'Reilly Automotive, Inc. (a) | 320 | 304,026 | ||||||
| Ollie's Bargain Outlet Holdings, Inc. (a) | 10,127 | 768,538 | ||||||
| Papa John's International, Inc. | 27,592 | 2,103,338 | ||||||
| Restoration Hardware, Inc. (a) | 1,558 | 454,126 | ||||||
| Ross Stores, Inc. | 18,500 | 2,560,215 | ||||||
| Savers Value Village, Inc. (a) | 17,261 | 299,996 | ||||||
| Tractor Supply Co. | 2,364 | 508,331 | ||||||
| Ulta Beauty, Inc. (a) | 2,600 | 1,273,974 | ||||||
| Warby Parker, Inc. Class A (a) | 38,622 | 544,570 | ||||||
| Wingstop, Inc. | 5,798 | 1,487,651 | ||||||
| Yum! Brands, Inc. | 18,776 | 2,453,272 | ||||||
| 56,397,351 | ||||||||
| Textiles — 0.0% | ||||||||
| UniFirst Corp. | 1,888 | 345,334 | ||||||
| 93,720,422 | ||||||||
| Consumer, Non-cyclical — 24.1% | ||||||||
| Agriculture — 0.0% | ||||||||
| Farmer's Business Network, Inc. (Acquired 7/31/20, Cost $48,230) (a) (c) (d) (e) | 1,459 | 7,616 | ||||||
| Pax Labs, Inc., Class A (Acquired 4/18/19, Cost $218,578) (a) (c) (d) (e) | 58,048 | 23,219 | ||||||
| 30,835 | ||||||||
| Beverages — 0.6% | ||||||||
| Boston Beer Co., Inc. Class A (a) | 4,948 | 1,709,979 | ||||||
| Coca-Cola Consolidated, Inc. | 579 | 537,543 | ||||||
| Constellation Brands, Inc. Class A | 6,225 | 1,504,894 | ||||||
| Monster Beverage Corp. (a) | 16,865 | 971,593 | ||||||
| 4,724,009 | ||||||||
| Biotechnology — 4.8% | ||||||||
| ACADIA Pharmaceuticals, Inc. (a) | 6,664 | 208,650 | ||||||
| Akero Therapeutics, Inc. (a) | 7,302 | 170,502 | ||||||
| Allakos, Inc. (a) | 17,088 | 46,650 | ||||||
| Alnylam Pharmaceuticals, Inc. (a) | 18,059 | 3,456,673 | ||||||
| Alpine Immune Sciences, Inc. (a) | 4,066 | 77,498 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Apellis Pharmaceuticals, Inc. (a) | 35,670 | $ | 2,135,206 | |||||
| Arcellx, Inc. (a) | 7,791 | 432,401 | ||||||
| Argenx SE ADR (a) | 9,518 | 3,620,933 | ||||||
| Autolus Therapeutics PLC ADR (a) | 5,472 | 35,240 | ||||||
| Avid Bioservices, Inc. (a) | 32,073 | 208,475 | ||||||
| Avidity Biosciences, Inc. (a) | 13,069 | 118,274 | ||||||
| BeiGene Ltd. ADR (a) | 934 | 168,456 | ||||||
| Biogen, Inc. (a) | 6,500 | 1,682,005 | ||||||
| Black Diamond Therapeutics, Inc. (a) | 27,640 | 77,668 | ||||||
| Blueprint Medicines Corp. (a) | 19,698 | 1,816,944 | ||||||
| Bridgebio Pharma, Inc. (a) | 10,779 | 435,148 | ||||||
| C4 Therapeutics, Inc. (a) | 6,196 | 35,007 | ||||||
| Cabaletta Bio, Inc. (a) | 12,816 | 290,923 | ||||||
| Cargo Therapeutics, Inc. (a) | 2,279 | 52,759 | ||||||
| Certara, Inc. (a) | 17,335 | 304,923 | ||||||
| Crinetics Pharmaceuticals, Inc. (a) | 23,305 | 829,192 | ||||||
| CRISPR Therapeutics AG (a) (b) | 17,205 | 1,077,033 | ||||||
| CureVac NV (a) (b) | 7,438 | 31,314 | ||||||
| Cymabay Therapeutics, Inc. (a) | 8,195 | 193,566 | ||||||
| Cytokinetics, Inc. (a) | 20,119 | 1,679,735 | ||||||
| Day One Biopharmaceuticals, Inc. (a) | 4,857 | 70,912 | ||||||
| Denali Therapeutics, Inc. (a) | 9,991 | 214,407 | ||||||
| Disc Medicine, Inc. (a) | 1,376 | 79,478 | ||||||
| Entrada Therapeutics, Inc. (a) | 7,443 | 112,315 | ||||||
| EyePoint Pharmaceuticals, Inc. (a) | 15,777 | 364,606 | ||||||
| Generation Bio Co. (a) | 15,304 | 25,252 | ||||||
| Guardant Health, Inc. (a) | 8,238 | 222,838 | ||||||
| HilleVax, Inc. (a) | 9,886 | 158,670 | ||||||
| Icosavax, Inc. (a) | 29,416 | 463,596 | ||||||
| Ideaya Biosciences, Inc. (a) | 7,410 | 263,648 | ||||||
| IGM Biosciences, Inc. (a) (b) | 6,399 | 53,176 | ||||||
| Immatics NV (a) | 20,972 | 220,835 | ||||||
| Immunocore Holdings PLC ADR (a) (b) | 4,219 | 288,242 | ||||||
| Immunovant, Inc. (a) | 2,559 | 107,811 | ||||||
| Insmed, Inc. (a) | 59,488 | 1,843,533 | ||||||
| Intellia Therapeutics, Inc. (a) | 3,531 | 107,660 | ||||||
| Ionis Pharmaceuticals, Inc. (a) | 63,133 | 3,193,899 | ||||||
| Karuna Therapeutics, Inc. (a) | 11,874 | 3,758,240 | ||||||
| Keros Therapeutics, Inc. (a) | 3,128 | 124,369 | ||||||
| Kymera Therapeutics, Inc. (a) | 21,314 | 542,654 | ||||||
| Legend Biotech Corp. ADR (a) | 1,548 | 93,143 | ||||||
| MacroGenics, Inc. (a) | 41,985 | 403,896 | ||||||
| Monte Rosa Therapeutics, Inc. (a) | 11,162 | 63,065 | ||||||
| MoonLake Immunotherapeutics (a) | 10,748 | 649,072 | ||||||
| MorphoSys AG ADR (a) | 52,118 | 515,968 | ||||||
| NeoGenomics, Inc. (a) | 46,174 | 747,095 | ||||||
| Nurix Therapeutics, Inc. (a) | 5,116 | 52,797 | ||||||
| Nuvalent, Inc., Class A (a) | 1,682 | 123,778 | ||||||
| Pliant Therapeutics, Inc. (a) | 7,717 | 139,755 | ||||||
| Prime Medicine, Inc. (a) (b) | 5,848 | 51,813 | ||||||
| Prothena Corp. PLC (a) | 7,019 | 255,070 | ||||||
| RAPT Therapeutics, Inc. (a) | 14,930 | 371,011 | ||||||
| Relay Therapeutics, Inc. (a) | 19,747 | 217,414 | ||||||
| Replimune Group, Inc. (a) | 9,327 | 78,627 | ||||||
| Revolution Medicines, Inc. (a) | 6,645 | 190,579 | ||||||
| Rocket Pharmaceuticals, Inc. (a) | 3,333 | 99,890 | ||||||
| Sarepta Therapeutics, Inc. (a) | 6,486 | 625,445 | ||||||
| Scholar Rock Holding Corp. (a) | 15,530 | 291,964 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| SpringWorks Therapeutics, Inc. (a) | 3,876 | $ | 141,474 | |||||
| Structure Therapeutics, Inc. ADR (a) | 12,300 | 501,348 | ||||||
| Syndax Pharmaceuticals, Inc. (a) | 18,083 | 390,774 | ||||||
| Tenaya Therapeutics, Inc. (a) | 8,468 | 27,436 | ||||||
| Ultragenyx Pharmaceutical, Inc. (a) | 3,943 | 188,554 | ||||||
| Verve Therapeutics, Inc. (a) | 21,376 | 297,981 | ||||||
| Xencor, Inc. (a) | 16,714 | 354,838 | ||||||
| Xenon Pharmaceuticals, Inc. (a) | 5,918 | 272,583 | ||||||
| Zai Lab Ltd. ADR (a) (b) | 3,399 | 92,895 | ||||||
| Zentalis Pharmaceuticals, Inc. (a) | 19,690 | 298,304 | ||||||
| 38,937,885 | ||||||||
| Commercial Services — 5.8% | ||||||||
| API Group Corp. (a) | 26,893 | 930,498 | ||||||
| Ashtead Group PLC | 19,962 | 1,383,176 | ||||||
| Booz Allen Hamilton Holding Corp. | 20,354 | 2,603,480 | ||||||
| Bright Horizons Family Solutions, Inc. (a) | 40,370 | 3,804,469 | ||||||
| Clarivate PLC (a) (b) | 53,762 | 497,836 | ||||||
| Colliers International Group, Inc. (b) | 4,500 | 569,340 | ||||||
| CoStar Group, Inc. (a) | 23,453 | 2,049,558 | ||||||
| Equifax, Inc. | 13,800 | 3,412,602 | ||||||
| FleetCor Technologies, Inc. (a) | 19,644 | 5,551,591 | ||||||
| FTI Consulting, Inc. (a) | 2,371 | 472,185 | ||||||
| Global Payments, Inc. | 23,523 | 2,987,421 | ||||||
| Green Dot Corp. Class A (a) | 28,325 | 280,417 | ||||||
| Herc Holdings, Inc. | 3,140 | 467,515 | ||||||
| Legalzoom.com Inc. (a) | 27,654 | 312,490 | ||||||
| MarketAxess Holdings, Inc. | 4,375 | 1,281,219 | ||||||
| Monro, Inc. | 33,214 | 974,499 | ||||||
| Morningstar, Inc. | 5,453 | 1,560,867 | ||||||
| Multiplan Corp. (a) (b) | 193,190 | 278,194 | ||||||
| Paylocity Holding Corp. (a) | 27,936 | 4,605,249 | ||||||
| Quanta Services, Inc. | 3,100 | 668,980 | ||||||
| Rent the Runway, Inc. Class A (a) (b) | 33,301 | 17,566 | ||||||
| Rentokil Initial PLC | 181,001 | 1,027,962 | ||||||
| Strategic Education, Inc. | 22,651 | 2,092,273 | ||||||
| Toast, Inc., Class A (a) | 68,323 | 1,247,578 | ||||||
| Transcat, Inc. (a) | 1,123 | 122,777 | ||||||
| TransUnion | 23,300 | 1,600,943 | ||||||
| United Rentals, Inc. | 3,900 | 2,236,338 | ||||||
| Verisk Analytics, Inc. | 5,300 | 1,265,958 | ||||||
| WillScot Mobile Mini Holdings Corp. (a) | 43,960 | 1,956,220 | ||||||
| 46,259,201 | ||||||||
| Cosmetics & Personal Care — 0.3% | ||||||||
| elf Beauty, Inc. (a) | 3,272 | 472,280 | ||||||
| Kenvue, Inc. | 99,904 | 2,150,933 | ||||||
| 2,623,213 | ||||||||
| Food — 1.3% | ||||||||
| Flowers Foods, Inc. | 99,883 | 2,248,366 | ||||||
| Nomad Foods Ltd. (a) | 45,192 | 766,004 | ||||||
| Post Holdings, Inc. (a) | 14,537 | 1,280,128 | ||||||
| Simply Good Foods Co. (a) | 21,331 | 844,708 | ||||||
| Sysco Corp. | 17,827 | 1,303,689 | ||||||
| TreeHouse Foods, Inc. (a) | 26,065 | 1,080,394 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Tyson Foods, Inc. Class A | 41,810 | $ | 2,247,288 | |||||
| Utz Brands, Inc. | 27,945 | 453,827 | ||||||
| 10,224,404 | ||||||||
| Health Care – Products — 6.2% | ||||||||
| 10X Genomics, Inc. Class A (a) | 8,500 | 475,660 | ||||||
| Agilent Technologies, Inc. | 36,500 | 5,074,595 | ||||||
| Alcon, Inc. | 22,800 | 1,781,136 | ||||||
| Atrion Corp. | 840 | 318,184 | ||||||
| Avanos Medical, Inc. (a) | 13,494 | 302,670 | ||||||
| Avantor, Inc. (a) | 147,400 | 3,365,142 | ||||||
| Azenta, Inc. (a) | 2,368 | 154,251 | ||||||
| Baxter International, Inc. | 58,481 | 2,260,875 | ||||||
| Bio-Techne Corp. | 3,607 | 278,316 | ||||||
| Bruker Corp. | 54,749 | 4,022,956 | ||||||
| Cooper Cos., Inc. | 6,200 | 2,346,328 | ||||||
| Enovis Corp. (a) | 23,733 | 1,329,523 | ||||||
| Exact Sciences Corp. (a) | 10,500 | 776,790 | ||||||
| Gyroscope Therapeutics, Milestone Payment 1 (Acquired 2/18/22, Cost $31,900) (a) (c) (d) (e) | 31,900 | — | ||||||
| Gyroscope Therapeutics, Milestone Payment 2 (Acquired 2/18/22, Cost $21,260) (a) (c) (d) (e) | 21,260 | — | ||||||
| Gyroscope Therapeutics, Milestone Payment 3 (Acquired 2/18/22, Cost $21,260) (a) (c) (d) (e) | 21,260 | — | ||||||
| Haemonetics Corp. (a) | 6,900 | 590,019 | ||||||
| Hologic, Inc. (a) | 78,500 | 5,608,825 | ||||||
| ICU Medical, Inc. (a) | 3,393 | 338,418 | ||||||
| Lantheus Holdings, Inc. (a) | 7,688 | 476,656 | ||||||
| Masimo Corp. (a) | 8,500 | 996,285 | ||||||
| Neogen Corp. (a) | 34,209 | 687,943 | ||||||
| Pacific Biosciences of California, Inc. (a) | 51,131 | 501,595 | ||||||
| Penumbra, Inc. (a) | 3,825 | 962,140 | ||||||
| PROCEPT BioRobotics Corp. (a) | 24,526 | 1,027,885 | ||||||
| Quidelortho Corp. (a) | 39,480 | 2,909,676 | ||||||
| Repligen Corp. (a) | 12,486 | 2,244,983 | ||||||
| RxSight, Inc. (a) | 5,330 | 214,906 | ||||||
| Sartorius Stedim Biotech | 1,055 | 280,210 | ||||||
| Teleflex, Inc. | 23,420 | 5,839,543 | ||||||
| Utah Medical Products, Inc. | 2,365 | 199,180 | ||||||
| West Pharmaceutical Services, Inc. | 8,438 | 2,971,189 | ||||||
| Zimmer Biomet Holdings, Inc. | 14,187 | 1,726,558 | ||||||
| 50,062,437 | ||||||||
| Health Care – Services — 3.0% | ||||||||
| Acadia Healthcare Co., Inc. (a) | 30,700 | 2,387,232 | ||||||
| Agiliti, Inc. (a) | 29,340 | 232,373 | ||||||
| agilon health, Inc. (a) (b) | 89,657 | 1,125,195 | ||||||
| Catalent, Inc. (a) | 90,977 | 4,087,597 | ||||||
| Centene Corp. (a) | 16,736 | 1,241,978 | ||||||
| Charles River Laboratories International, Inc. (a) | 8,932 | 2,111,525 | ||||||
| Ensign Group, Inc. | 8,470 | 950,419 | ||||||
| Eurofins Scientific SE | 12,131 | 793,709 | ||||||
| Ginkgo Bioworks, Inc., Earnout Shares 15.00 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e) | 874 | 384 | ||||||
| Ginkgo Bioworks, Inc., Earnout Shares 17.50 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e) | 874 | 339 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Ginkgo Bioworks, Inc., Earnout Shares 20.00 (Acquired 9/17/21, Cost $0) (a) (c) (d) (e) | 874 | $ | 302 | |||||
| ICON PLC (a) | 3,364 | 952,247 | ||||||
| Innovage Holding Corp. (a) | 40,750 | 244,500 | ||||||
| Molina Healthcare, Inc. (a) | 12,560 | 4,538,054 | ||||||
| Pennant Group, Inc. (a) | 19,785 | 275,407 | ||||||
| Select Medical Holdings Corp. | 185,730 | 4,364,655 | ||||||
| Sotera Health Co. (a) | 26,546 | 447,300 | ||||||
| US Physical Therapy, Inc. | 5,029 | 468,401 | ||||||
| 24,221,617 | ||||||||
| Household Products & Wares — 0.5% | ||||||||
| Avery Dennison Corp. | 14,500 | 2,931,320 | ||||||
| Reynolds Consumer Products, Inc. | 29,000 | 778,360 | ||||||
| 3,709,680 | ||||||||
| Pharmaceuticals — 1.6% | ||||||||
| Agios Pharmaceuticals, Inc. (a) | 8,534 | 190,052 | ||||||
| Arvinas, Inc. (a) | 7,140 | 293,882 | ||||||
| Ascendis Pharma AS ADR (a) | 23,093 | 2,908,563 | ||||||
| BellRing Brands, Inc. (a) | 27,639 | 1,532,030 | ||||||
| Capsule, Corp. (Acquired 4/07/21, Cost $72,342) (a) (c) (d) (e) | 4,992 | 7,039 | ||||||
| Cardinal Health, Inc. | 9,441 | 951,653 | ||||||
| Centessa Pharmaceuticals PLC ADR (a) | 3,637 | 28,950 | ||||||
| DENTSPLY SIRONA, Inc. | 74,603 | 2,655,121 | ||||||
| Elanco Animal Health, Inc. (a) | 138,549 | 2,064,380 | ||||||
| Immuneering Corp. Class A (a) | 5,460 | 40,131 | ||||||
| Leap Therapeutics Holdback Shares (Acquired 2/09/23, Cost $5,223) (a) (c) (d) | 400 | 1,492 | ||||||
| Longboard Pharmaceuticals, Inc. (a) | 3,060 | 18,452 | ||||||
| Mirum Pharmaceuticals, Inc. (a) | 2,048 | 60,457 | ||||||
| Morphic Holding, Inc. (a) | 3,768 | 108,820 | ||||||
| Neurocrine Biosciences, Inc. (a) | 1,042 | 137,294 | ||||||
| Vaxcyte, Inc. (a) | 12,216 | 767,165 | ||||||
| Viatris, Inc. | 125,049 | 1,354,281 | ||||||
| 13,119,762 | ||||||||
| 193,913,043 | ||||||||
| Energy — 5.3% | ||||||||
| Coal — 0.0% | ||||||||
| Alpha Metallurgical Resources, Inc. | 494 | 167,427 | ||||||
| Energy – Alternate Sources — 0.1% | ||||||||
| Shoals Technologies Group, Inc. Class A (a) | 17,800 | 276,612 | ||||||
| Oil & Gas — 2.6% | ||||||||
| Advantage Energy Ltd. (a) | 43,309 | 278,801 | ||||||
| Chesapeake Energy Corp. (b) | 20,409 | 1,570,268 | ||||||
| Coterra Energy, Inc. | 42,100 | 1,074,392 | ||||||
| Diamondback Energy, Inc. | 8,912 | 1,382,073 | ||||||
| EQT Corp. | 49,200 | 1,902,072 | ||||||
| Kimbell Royalty Partners LP | 17,393 | 261,765 | ||||||
| Magnolia Oil & Gas Corp. Class A | 66,598 | 1,417,871 | ||||||
| Matador Resources Co. | 39,345 | 2,237,157 | ||||||
| Noble Corp. PLC | 9,476 | 456,364 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Permian Resources Corp. | 45,310 | $ | 616,216 | |||||
| Pioneer Natural Resources Co. | 1,466 | 329,674 | ||||||
| Range Resources Corp. | 90,281 | 2,748,154 | ||||||
| SM Energy Co. | 22,142 | 857,338 | ||||||
| Southwestern Energy Co. (a) | 275,833 | 1,806,706 | ||||||
| Suncor Energy, Inc. | 52,866 | 1,693,827 | ||||||
| Weatherford International PLC (a) | 26,354 | 2,578,212 | ||||||
| 21,210,890 | ||||||||
| Oil & Gas Services — 2.2% | ||||||||
| Baker Hughes Co. | 41,257 | 1,410,164 | ||||||
| ChampionX Corp. | 51,954 | 1,517,577 | ||||||
| Enerflex Ltd. (b) | 91,271 | 422,242 | ||||||
| Expro Group Holdings NV (a) | 110,735 | 1,762,901 | ||||||
| Liberty Energy, Inc. | 67,388 | 1,222,418 | ||||||
| Nov, Inc. | 21,900 | 444,132 | ||||||
| Ranger Energy Services, Inc. | 14,795 | 151,353 | ||||||
| SEACOR Marine Holdings, Inc. (a) | 36,248 | 456,362 | ||||||
| TechnipFMC PLC | 347,127 | 6,991,138 | ||||||
| Tidewater, Inc. (a) | 39,656 | 2,859,594 | ||||||
| 17,237,881 | ||||||||
| Pipelines — 0.4% | ||||||||
| Cheniere Energy, Inc. | 17,400 | 2,970,354 | ||||||
| DT Midstream, Inc. (a) | 9,200 | 504,160 | ||||||
| 3,474,514 | ||||||||
| 42,367,324 | ||||||||
| Financial — 16.0% | ||||||||
| Banks — 5.6% | ||||||||
| BankUnited, Inc. | 55,453 | 1,798,341 | ||||||
| Blue Foundry Bancorp (a) | 20,556 | 198,777 | ||||||
| Cadence Bank | 27,585 | 816,240 | ||||||
| Cathay General Bancorp | 7,870 | 350,766 | ||||||
| Coastal Financial Corp. (a) | 6,649 | 295,282 | ||||||
| Columbia Banking System, Inc. | 72,980 | 1,947,107 | ||||||
| CRB Group, Inc. (Acquired 4/14/22, Cost $73,283) (a) (c) (d) (e) | 697 | 50,888 | ||||||
| CrossFirst Bankshares, Inc. (a) | 44,835 | 608,859 | ||||||
| Dime Community Bancshares, Inc. | 15,459 | 416,311 | ||||||
| Dogwood State Bank, (Non-Voting) (Acquired 5/06/19, Cost $53,690) (a) (c) (d) (e) | 5,369 | 94,226 | ||||||
| Dogwood State Bank, (Voting) (Acquired 5/06/19, Cost $26,370) (a) (c) (d) (e) | 2,637 | 46,279 | ||||||
| East West Bancorp, Inc. | 28,118 | 2,023,090 | ||||||
| Eastern Bankshares, Inc. | 97,446 | 1,383,733 | ||||||
| Equity Bancshares, Inc. Class A | 9,517 | 322,626 | ||||||
| Farmers & Merchants Bank of Long Beach/Long Beach CA (b) | 31 | 158,906 | ||||||
| FB Financial Corp. | 32,132 | 1,280,460 | ||||||
| Fifth Third Bancorp | 115,957 | 3,999,357 | ||||||
| First Bancshares, Inc. | 23,018 | 675,118 | ||||||
| Five Star Bancorp | 9,617 | 251,773 | ||||||
| HarborOne Bancorp, Inc. | 41,284 | 494,582 | ||||||
| Heritage Commerce Corp. | 23,977 | 237,852 | ||||||
| Home BancShares, Inc. | 57,780 | 1,463,567 | ||||||
| John Marshall Bancorp, Inc. | 12,083 | 272,593 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Kearny Financial Corp. | 48,462 | $ | 434,704 | |||||
| Live Oak Bancshares, Inc. | 45,059 | 2,050,185 | ||||||
| Metropolitan Bank Holding Corp. (a) | 7,104 | 393,420 | ||||||
| National Bank Holdings Corp. Class A | 22,710 | 844,585 | ||||||
| Origin Bancorp, Inc. | 29,228 | 1,039,640 | ||||||
| Pinnacle Financial Partners, Inc. | 28,578 | 2,492,573 | ||||||
| Ponce Financial Group, Inc. (a) | 21,067 | 205,614 | ||||||
| Popular, Inc. | 54,173 | 4,445,978 | ||||||
| Preferred Bank | 7,266 | 530,781 | ||||||
| Prosperity Bancshares, Inc. | 5,514 | 373,463 | ||||||
| Provident Bancorp, Inc. (a) | 13,162 | 132,541 | ||||||
| Sandy Spring Bancorp, Inc. | 20,091 | 547,279 | ||||||
| Southern First Bancshares, Inc. (a) | 5,100 | 189,210 | ||||||
| SouthState Corp. | 27,002 | 2,280,319 | ||||||
| Texas Capital Bancshares, Inc. (a) | 20,721 | 1,339,198 | ||||||
| Towne Bank | 28,270 | 841,315 | ||||||
| Veritex Holdings, Inc. | 30,113 | 700,730 | ||||||
| Walker & Dunlop, Inc. | 8,221 | 912,613 | ||||||
| Webster Financial Corp. | 57,004 | 2,893,523 | ||||||
| Western Alliance Bancorp | 51,165 | 3,366,145 | ||||||
| 45,200,549 | ||||||||
| Diversified Financial Services — 2.7% | ||||||||
| Apollo Global Management, Inc. | 15,359 | 1,431,305 | ||||||
| Assetmark Financial Holdings, Inc. (a) | 13,231 | 396,268 | ||||||
| Cboe Global Markets, Inc. | 8,906 | 1,590,255 | ||||||
| Columbia Financial, Inc. (a) | 12,050 | 232,324 | ||||||
| Encore Capital Group, Inc. (a) | 8,436 | 428,127 | ||||||
| Grasshopper Bancorp, Inc. (Acquired 5/02/19, Cost $83,390) (a) (c) (d) (e) | 8,339 | 25,017 | ||||||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b) | 35,795 | 987,226 | ||||||
| Houlihan Lokey, Inc. | 9,716 | 1,165,046 | ||||||
| Intercontinental Exchange, Inc. | 19,600 | 2,517,228 | ||||||
| NerdWallet, Inc. Class A (a) | 16,253 | 239,244 | ||||||
| OneMain Holdings, Inc. | 36,106 | 1,776,415 | ||||||
| OTC Markets Group, Inc. Class A (b) | 4,941 | 276,202 | ||||||
| PennyMac Financial Services, Inc. | 35,928 | 3,174,957 | ||||||
| PRA Group, Inc. (a) | 21,733 | 569,405 | ||||||
| Radian Group, Inc. | 30,302 | 865,122 | ||||||
| Raymond James Financial, Inc. | 12,650 | 1,410,475 | ||||||
| Stash Financial, Inc. (Acquired 1/06/21-1/26/21, Cost $15,690) (a) (c) (d) (e) | 487 | 5,547 | ||||||
| StepStone Group, Inc. Class A | 24,015 | 764,398 | ||||||
| TMX Group Ltd. | 21,627 | 523,109 | ||||||
| Tradeweb Markets, Inc. Class A | 26,400 | 2,399,232 | ||||||
| Virtus Investment Partners, Inc. | 3,055 | 738,577 | ||||||
| Voya Financial, Inc. | 4,172 | 304,389 | ||||||
| 21,819,868 | ||||||||
| Insurance — 2.7% | ||||||||
| Allstate Corp. | 11,522 | 1,612,850 | ||||||
| Assurant, Inc. | 29,112 | 4,905,081 | ||||||
| Axis Capital Holdings Ltd. | 30,073 | 1,665,142 | ||||||
| BRP Group, Inc. Class A (a) | 4,896 | 117,602 | ||||||
| Corebridge Financial, Inc. | 64,041 | 1,387,128 | ||||||
| First American Financial Corp. | 18,779 | 1,210,119 | ||||||
| Hanover Insurance Group, Inc. | 14,200 | 1,724,164 | ||||||
| Jackson Financial, Inc. Class A | 26,060 | 1,334,272 | ||||||
| James River Group Holdings Ltd. | 23,968 | 221,464 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Kemper Corp. | 35,994 | $ | 1,751,828 | |||||
| Markel Group, Inc. (a) | 550 | 780,945 | ||||||
| Palomar Holdings, Inc. (a) | 1,673 | 92,851 | ||||||
| ProAssurance Corp. | 30,264 | 417,341 | ||||||
| RenaissanceRe Holdings Ltd. | 8,125 | 1,592,500 | ||||||
| RLI Corp. | 1,200 | 159,744 | ||||||
| Ryan Specialty Holdings, Inc. (a) | 14,255 | 613,250 | ||||||
| Selective Insurance Group, Inc. | 18,170 | 1,807,552 | ||||||
| Skyward Specialty Insurance Group, Inc. (a) | 3,226 | 109,297 | ||||||
| White Mountains Insurance Group Ltd. | 440 | 662,204 | ||||||
| 22,165,334 | ||||||||
| Private Equity — 0.5% | ||||||||
| KKR & Co., Inc. | 39,700 | 3,289,145 | ||||||
| P10, Inc. Class A | 40,444 | 413,338 | ||||||
| 3,702,483 | ||||||||
| Real Estate — 0.6% | ||||||||
| FirstService Corp. | 14,593 | 2,365,379 | ||||||
| McGrath RentCorp | 2,682 | 320,821 | ||||||
| St. Joe Co. | 14,618 | 879,711 | ||||||
| Tricon Residential, Inc. | 135,934 | 1,237,000 | ||||||
| 4,802,911 | ||||||||
| Real Estate Investment Trusts (REITS) — 3.6% | ||||||||
| Apartment Investment & Management Co. Class A (a) | 168,524 | 1,319,543 | ||||||
| Apple Hospitality REIT, Inc. | 44,799 | 744,111 | ||||||
| Community Healthcare Trust, Inc. | 564 | 15,025 | ||||||
| CubeSmart | 40,177 | 1,862,204 | ||||||
| Digital Realty Trust, Inc. | 2,596 | 349,370 | ||||||
| Douglas Emmett, Inc. | 27,423 | 397,634 | ||||||
| EastGroup Properties, Inc. | 14,793 | 2,715,107 | ||||||
| Equity Residential | 27,170 | 1,661,717 | ||||||
| Essential Properties Realty Trust, Inc. | 29,287 | 748,576 | ||||||
| Flagship Communities REIT | 8,813 | 140,567 | ||||||
| Healthcare Realty Trust, Inc. | 17,400 | 299,802 | ||||||
| Independence Realty Trust, Inc. | 77,446 | 1,184,924 | ||||||
| Innovative Industrial Properties, Inc. | 976 | 98,400 | ||||||
| NETSTREIT Corp. | 35,947 | 641,654 | ||||||
| NexPoint Residential Trust, Inc. | 8,277 | 284,977 | ||||||
| Pebblebrook Hotel Trust | 45,883 | 733,210 | ||||||
| PennyMac Mortgage Investment Trust | 45,239 | 676,323 | ||||||
| PotlatchDeltic Corp. | 12,633 | 620,280 | ||||||
| Rayonier, Inc. | 45,561 | 1,522,193 | ||||||
| Regency Centers Corp. | 25,963 | 1,739,521 | ||||||
| Rexford Industrial Realty, Inc. | 64,144 | 3,598,478 | ||||||
| Safehold, Inc. | 18,044 | 422,230 | ||||||
| Saul Centers, Inc. | 15,394 | 604,522 | ||||||
| Simon Property Group, Inc. | 4,159 | 593,240 | ||||||
| Sun Communities, Inc. | 9,470 | 1,265,666 | ||||||
| Terreno Realty Corp. | 29,797 | 1,867,378 | ||||||
| UMH Properties, Inc. | 26,975 | 413,257 | ||||||
| Vornado Realty Trust | 43,297 | 1,223,140 | ||||||
| Weyerhaeuser Co. | 37,653 | 1,309,195 | ||||||
| 29,052,244 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Savings & Loans — 0.3% | ||||||||
| Capitol Federal Financial, Inc. | 50,808 | $ | 327,711 | |||||
| FS Bancorp, Inc. | 7,917 | 292,612 | ||||||
| Pacific Premier Bancorp, Inc. | 27,742 | 807,570 | ||||||
| WSFS Financial Corp. | 18,462 | 847,960 | ||||||
| 2,275,853 | ||||||||
| 129,019,242 | ||||||||
| Industrial — 16.5% | ||||||||
| Aerospace & Defense — 1.1% | ||||||||
| Bombardier, Inc. Class B (a) | 5,200 | 208,816 | ||||||
| Bombas LLC. (Acquired 2/12/21, Cost $183,470) (a) (c) (d) (e) | 41,514 | 120,391 | ||||||
| Howmet Aerospace, Inc. | 4,300 | 232,716 | ||||||
| L3 Harris Technologies, Inc. | 10,514 | 2,214,459 | ||||||
| Leonardo DRS, Inc. (a) | 34,968 | 700,759 | ||||||
| Moog, Inc. Class A | 3,534 | 511,652 | ||||||
| Rolls-Royce Holdings PLC (a) | 612,365 | 2,332,130 | ||||||
| Spirit AeroSystems Holdings, Inc. Class A (a) | 84,679 | 2,691,099 | ||||||
| 9,012,022 | ||||||||
| Building Materials — 1.6% | ||||||||
| AAON, Inc. | 6,000 | 443,220 | ||||||
| Armstrong World Industries, Inc. | 12,471 | 1,226,149 | ||||||
| Martin Marietta Materials, Inc. | 5,831 | 2,909,144 | ||||||
| Modine Manufacturing Co. (a) | 2,677 | 159,817 | ||||||
| SPX Technologies, Inc. (a) | 16,032 | 1,619,392 | ||||||
| Summit Materials, Inc. Class A (a) | 73,172 | 2,814,195 | ||||||
| Trane Technologies PLC | 5,448 | 1,328,767 | ||||||
| UFP Industries, Inc. | 9,514 | 1,194,483 | ||||||
| Vulcan Materials Co. | 4,461 | 1,012,692 | ||||||
| West Fraser Timber Co. Ltd. (b) | 697 | 59,649 | ||||||
| West Fraser Timber Co. Ltd. | 6,343 | 542,653 | ||||||
| 13,310,161 | ||||||||
| Electrical Components & Equipment — 0.5% | ||||||||
| Littelfuse, Inc. | 8,886 | 2,377,538 | ||||||
| Novanta, Inc. (a) | 8,411 | 1,416,497 | ||||||
| 3,794,035 | ||||||||
| Electronics — 2.2% | ||||||||
| Amphenol Corp. Class A | 20,000 | 1,982,600 | ||||||
| Atmus Filtration Technologies, Inc. (a) | 4,344 | 102,041 | ||||||
| Brady Corp. Class A | 12,623 | 740,844 | ||||||
| CTS Corp. | 12,657 | 553,617 | ||||||
| ESCO Technologies, Inc. | 10,603 | 1,240,869 | ||||||
| Fortive Corp. | 33,100 | 2,437,153 | ||||||
| Hubbell, Inc. | 4,032 | 1,326,246 | ||||||
| Keysight Technologies, Inc. (a) | 19,000 | 3,022,710 | ||||||
| Knowles Corp. (a) | 16,563 | 296,643 | ||||||
| Mettler-Toledo International, Inc. (a) | 670 | 812,683 | ||||||
| Mirion Technologies, Inc. (a) | 139,604 | 1,430,941 | ||||||
| Napco Security Technologies, Inc. | 11,873 | 406,650 | ||||||
| TE Connectivity Ltd. | 11,875 | 1,668,437 | ||||||
| Vishay Intertechnology, Inc. | 11,978 | 287,113 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Vontier Corp. | 34,491 | $ | 1,191,664 | |||||
| 17,500,211 | ||||||||
| Engineering & Construction — 0.1% | ||||||||
| Arcosa, Inc. | 7,529 | 622,197 | ||||||
| MYR Group, Inc. (a) | 466 | 67,398 | ||||||
| NV5 Global, Inc. (a) | 1,612 | 179,125 | ||||||
| 868,720 | ||||||||
| Environmental Controls — 0.6% | ||||||||
| Casella Waste Systems, Inc. Class A (a) | 12,167 | 1,039,792 | ||||||
| Stericycle, Inc. (a) | 14,176 | 702,563 | ||||||
| Tetra Tech, Inc. | 4,922 | 821,629 | ||||||
| Veralto Corp. | 14,700 | 1,209,222 | ||||||
| Waste Connections, Inc. | 5,200 | 776,204 | ||||||
| 4,549,410 | ||||||||
| Hand & Machine Tools — 0.8% | ||||||||
| Cadre Holdings, Inc. | 7,823 | 257,298 | ||||||
| Enerpac Tool Group Corp. | 25,588 | 795,531 | ||||||
| MSA Safety, Inc. | 3,640 | 614,541 | ||||||
| Stanley Black & Decker, Inc. | 47,348 | 4,644,839 | ||||||
| 6,312,209 | ||||||||
| Machinery – Construction & Mining — 0.1% | ||||||||
| BWX Technologies, Inc. | 12,800 | 982,144 | ||||||
| Machinery – Diversified — 3.8% | ||||||||
| Alamo Group, Inc. | 2,796 | 587,691 | ||||||
| ATS Corp. (a) | 3,430 | 147,730 | ||||||
| Cactus, Inc. Class A | 16,198 | 735,389 | ||||||
| Cognex Corp. | 21,800 | 909,932 | ||||||
| Crane Co. | 7,158 | 845,646 | ||||||
| CSW Industrials, Inc. | 7,435 | 1,542,093 | ||||||
| Esab Corp. | 67,799 | 5,872,749 | ||||||
| Graco, Inc. | 8,525 | 739,629 | ||||||
| Hydrofarm Holdings Group, Inc. (a) | 6,021 | 5,524 | ||||||
| IDEX Corp. | 17,522 | 3,804,202 | ||||||
| Ingersoll Rand, Inc. | 107,824 | 8,339,108 | ||||||
| Marel Hf. | 27,870 | 96,637 | ||||||
| Middleby Corp. (a) | 11,778 | 1,733,368 | ||||||
| Mueller Water Products, Inc. Class A | 44,381 | 639,087 | ||||||
| Spirax-Sarco Engineering PLC | 3,086 | 412,232 | ||||||
| Thermon Group Holdings, Inc. (a) | 21,619 | 704,131 | ||||||
| Toro Co. | 20,484 | 1,966,259 | ||||||
| Zurn Elkay Water Solutions Corp. Class C | 42,455 | 1,248,602 | ||||||
| 30,330,009 | ||||||||
| Metal Fabricate & Hardware — 0.8% | ||||||||
| AZZ, Inc. | 17,349 | 1,007,803 | ||||||
| Helios Technologies, Inc. | 16,987 | 770,360 | ||||||
| RBC Bearings, Inc. (a) | 13,450 | 3,831,771 | ||||||
| Strattec Security Corp. (a) | 3,451 | 86,655 | ||||||
| Valmont Industries, Inc. | 2,000 | 467,020 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Xometry, Inc. Class A (a) | 8,758 | $ | 314,500 | |||||
| 6,478,109 | ||||||||
| Miscellaneous - Manufacturing — 1.7% | ||||||||
| EnPro Industries, Inc. | 3,800 | 595,612 | ||||||
| Federal Signal Corp. | 18,864 | 1,447,623 | ||||||
| John Bean Technologies Corp. | 9,890 | 983,561 | ||||||
| Myers Industries, Inc. | 8,073 | 157,827 | ||||||
| Teledyne Technologies, Inc. (a) | 9,152 | 4,084,446 | ||||||
| Textron, Inc. | 83,455 | 6,711,451 | ||||||
| 13,980,520 | ||||||||
| Packaging & Containers — 1.1% | ||||||||
| Ball Corp. | 99,923 | 5,747,571 | ||||||
| Clearwater Paper Corp. (a) | 10,433 | 376,840 | ||||||
| Pactiv Evergreen, Inc. | 3,857 | 52,879 | ||||||
| Sealed Air Corp. | 38,305 | 1,398,899 | ||||||
| Westrock Co. | 40,739 | 1,691,483 | ||||||
| 9,267,672 | ||||||||
| Shipbuilding — 0.2% | ||||||||
| Huntington Ingalls Industries, Inc. | 6,779 | 1,760,100 | ||||||
| Transportation — 1.9% | ||||||||
| International Seaways, Inc. | 1,514 | 68,857 | ||||||
| JB Hunt Transport Services, Inc. | 29,460 | 5,884,340 | ||||||
| Landstar System, Inc. | 8,653 | 1,675,653 | ||||||
| Matson, Inc. | 2,822 | 309,291 | ||||||
| Norfolk Southern Corp. | 8,352 | 1,974,246 | ||||||
| Old Dominion Freight Line, Inc. | 4,342 | 1,759,943 | ||||||
| Saia, Inc. (a) | 7,645 | 3,350,192 | ||||||
| 15,022,522 | ||||||||
| 133,167,844 | ||||||||
| Technology — 14.6% | ||||||||
| Commercial Services — 0.0% | ||||||||
| Socure, Inc. (Acquired 12/22/21, Cost $62,185) (a) (c) (d) (e) | 3,870 | 24,188 | ||||||
| Computers — 2.7% | ||||||||
| Apiture, Inc. (Acquired 7/01/20-6/30/22, Cost $97,636) (a) (c) (d) (e) | 6,130 | 102,923 | ||||||
| ASGN, Inc. (a) | 5,851 | 562,691 | ||||||
| Coalition, Inc. (Acquired 9/13/21, Cost $4,230) (a) (c) (d) (e) | 256 | 2,483 | ||||||
| Conduent, Inc. (a) | 77,483 | 282,813 | ||||||
| Crowdstrike Holdings, Inc. Class A (a) | 16,262 | 4,152,014 | ||||||
| Endava PLC Sponsored ADR (a) | 24,411 | 1,900,396 | ||||||
| Fortinet, Inc. (a) | 20,100 | 1,176,453 | ||||||
| Globant SA (a) | 9,731 | 2,315,783 | ||||||
| PAR Technology Corp. (a) (b) | 34,529 | 1,503,393 | ||||||
| Parsons Corp. (a) | 29,037 | 1,820,910 | ||||||
| Pure Storage, Inc. Class A (a) | 42,629 | 1,520,150 | ||||||
| Western Digital Corp. (a) | 122,463 | 6,413,387 | ||||||
| 21,753,396 | ||||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Office & Business Equipment — 0.2% | ||||||||
| Zebra Technologies Corp. Class A (a) | 4,846 | $ | 1,324,557 | |||||
| Semiconductors — 4.6% | ||||||||
| Allegro MicroSystems, Inc. (a) | 12,300 | 372,321 | ||||||
| Diodes, Inc. (a) | 2,998 | 241,399 | ||||||
| Entegris, Inc. | 37,277 | 4,466,530 | ||||||
| KLA Corp. | 2,689 | 1,563,116 | ||||||
| Lattice Semiconductor Corp. (a) | 53,272 | 3,675,235 | ||||||
| MACOM Technology Solutions Holdings, Inc. (a) | 21,756 | 2,022,220 | ||||||
| Marvell Technology, Inc. | 124,810 | 7,527,291 | ||||||
| Microchip Technology, Inc. | 76,900 | 6,934,842 | ||||||
| MKS Instruments, Inc. | 51,381 | 5,285,564 | ||||||
| Monolithic Power Systems, Inc. | 2,804 | 1,768,707 | ||||||
| NXP Semiconductors NV | 4,900 | 1,125,432 | ||||||
| Onto Innovation, Inc. (a) | 13,416 | 2,051,307 | ||||||
| Power Integrations, Inc. | 4,083 | 335,255 | ||||||
| 37,369,219 | ||||||||
| Software — 7.1% | ||||||||
| Agilysys, Inc. (a) | 6,558 | 556,250 | ||||||
| Alignment Healthcare, Inc. (a) | 93,108 | 801,660 | ||||||
| Altair Engineering, Inc. Class A (a) | 8,174 | 687,842 | ||||||
| Amplitude, Inc. Class A (a) | 50,361 | 640,592 | ||||||
| Atlassian Corp. Class A (a) | 8,948 | 2,128,371 | ||||||
| Bill Holdings, Inc. (a) | 27,120 | 2,212,721 | ||||||
| Braze, Inc. Class A (a) | 4,000 | 212,520 | ||||||
| Broadridge Financial Solutions, Inc. | 9,700 | 1,995,775 | ||||||
| CCC Intelligent Solutions Holdings, Inc. (a) | 127,977 | 1,457,658 | ||||||
| Ceridian HCM Holding, Inc. (a) | 43,490 | 2,919,049 | ||||||
| Checkr, Inc. (Acquired 6/29/18-12/02/19, Cost $116,452) (a) (c) (d) (e) | 15,444 | 83,398 | ||||||
| Clear Secure, Inc. Class A | 40,746 | 841,405 | ||||||
| Confluent, Inc. Class A (a) | 8,260 | 193,284 | ||||||
| Databricks, Inc. (Acquired 7/24/20-8/28/20, Cost $24,732) (a) (c) (d) (e) | 1,545 | 113,558 | ||||||
| Datadog, Inc. Class A (a) | 8,148 | 989,004 | ||||||
| Descartes Systems Group, Inc. (a) | 26,398 | 2,219,016 | ||||||
| DocuSign, Inc. (a) | 21,742 | 1,292,562 | ||||||
| DoubleVerify Holdings, Inc. (a) | 41,917 | 1,541,707 | ||||||
| Duolingo, Inc. (a) | 3,257 | 738,850 | ||||||
| Dynatrace, Inc. (a) | 4,592 | 251,136 | ||||||
| Enfusion, Inc. Class A (a) | 7,101 | 68,880 | ||||||
| Envestnet, Inc. (a) | 12,913 | 639,452 | ||||||
| Fair Isaac Corp. (a) | 2,200 | 2,560,822 | ||||||
| Five9, Inc. (a) | 9,598 | 755,267 | ||||||
| Gusto, Inc. (Acquired 8/18/20-11/09/20, Cost $204,799) (a) (c) (d) (e) | 15,332 | 235,806 | ||||||
| HubSpot, Inc. (a) | 4,257 | 2,471,359 | ||||||
| Intapp, Inc. (a) | 13,969 | 531,101 | ||||||
| JFrog Ltd. (a) | 4,267 | 147,681 | ||||||
| Manhattan Associates, Inc. (a) | 2,489 | 535,931 | ||||||
| Model N, Inc. (a) | 8,100 | 218,133 | ||||||
| Monday.com Ltd. (a) | 9,475 | 1,779,500 | ||||||
| MongoDB, Inc. (a) | 3,513 | 1,436,290 | ||||||
| nCino, Inc. (a) | 8,958 | 301,258 | ||||||
| Outset Medical, Inc. (a) | 22,338 | 120,849 | ||||||
| Paycor HCM, Inc. (a) | 50,403 | 1,088,201 | ||||||
| Phreesia, Inc. (a) | 13,230 | 306,274 | ||||||
| Privia Health Group, Inc. (a) | 34,239 | 788,524 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Procore Technologies, Inc. (a) | 28,584 | $ | 1,978,584 | |||||
| PTC, Inc. (a) | 19,148 | 3,350,134 | ||||||
| Roper Technologies, Inc. | 6,776 | 3,694,072 | ||||||
| Samsara, Inc. Class A (a) | 38,590 | 1,288,134 | ||||||
| ServiceTitan, Inc. (Acquired 11/09/18-5/04/21, Cost $28,780) (a) (c) (d) (e) | 618 | 45,058 | ||||||
| SS&C Technologies Holdings, Inc. | 29,292 | 1,790,034 | ||||||
| Tanium, Inc., Class B (Acquired 9/24/20, Cost $30,277) (a) (c) (d) (e) | 2,657 | 13,046 | ||||||
| Themis Solutions, Inc. (Acquired 4/14/21, Cost $108,219) (a) (c) (d) (e) | 4,820 | 94,327 | ||||||
| Tyler Technologies, Inc. (a) | 4,100 | 1,714,292 | ||||||
| Veeva Systems, Inc. Class A (a) | 25,686 | 4,945,069 | ||||||
| Verra Mobility Corp. (a) | 46,914 | 1,080,429 | ||||||
| Vimeo, Inc. (a) | 83,922 | 328,974 | ||||||
| Workiva, Inc. (a) | 11,228 | 1,139,979 | ||||||
| 57,323,818 | ||||||||
| 117,795,178 | ||||||||
| Utilities — 2.7% | ||||||||
| Electric — 2.1% | ||||||||
| Ameren Corp. | 29,277 | 2,117,898 | ||||||
| CenterPoint Energy, Inc. | 38,403 | 1,097,174 | ||||||
| Constellation Energy Corp. | 16,783 | 1,961,765 | ||||||
| Evergy, Inc. | 30,263 | 1,579,729 | ||||||
| FirstEnergy Corp. | 88,922 | 3,259,880 | ||||||
| IDACORP, Inc. | 20,656 | 2,030,898 | ||||||
| MGE Energy, Inc. | 15,433 | 1,115,960 | ||||||
| Northwestern Energy Group, Inc. | 3,622 | 184,324 | ||||||
| OGE Energy Corp. | 22,653 | 791,269 | ||||||
| PG&E Corp. | 118,074 | 2,128,874 | ||||||
| PNM Resources, Inc. | 11,672 | 485,555 | ||||||
| 16,753,326 | ||||||||
| Gas — 0.4% | ||||||||
| Chesapeake Utilities Corp. | 15,383 | 1,624,906 | ||||||
| ONE Gas, Inc. | 15,969 | 1,017,545 | ||||||
| Southwest Gas Holdings, Inc. | 10,482 | 664,035 | ||||||
| 3,306,486 | ||||||||
| Water — 0.2% | ||||||||
| Artesian Resources Corp. Class A | 5,554 | 230,213 | ||||||
| California Water Service Group | 20,989 | 1,088,700 | ||||||
| Middlesex Water Co. | 3,190 | 209,328 | ||||||
| 1,528,241 | ||||||||
| 21,588,053 | ||||||||
| TOTAL COMMON STOCK (Cost $648,010,795) | 773,829,595 | |||||||
| PREFERRED STOCK — 1.2% | ||||||||
| Communications — 0.1% | ||||||||
| Internet — 0.1% | ||||||||
| 1661, Inc., Series F (Acquired 5/28/21, Cost $288,836) (a) (c) (d) (e) | 49,629 | 49,629 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Evolve Vacation Rental Network, Inc., Series 8 (Acquired 3/29/18-6/15/18, Cost $44,816) (a) (c) (d) (e) | 5,266 | $ | 78,779 | |||||
| Evolve Vacation Rental Network, Inc., Series 9 (Acquired 5/29/20, Cost $20,111) (a) (c) (d) (e) | 3,470 | 51,911 | ||||||
| Minted, Inc., Series E (Acquired 10/30/18, Cost $113,257) (a) (c) (d) (e) | 8,410 | 94,108 | ||||||
| SecurityScorecard, Inc., Series E (Acquired 3/05/21, Cost $262,495) (a) (c) (d) (e) | 51,969 | 265,042 | ||||||
| 539,469 | ||||||||
| 539,469 | ||||||||
| Consumer, Cyclical — 0.0% | ||||||||
| Auto Manufacturers — 0.0% | ||||||||
| Nuro, Inc., Series C, (Acquired 10/30/20-3/02/21, Cost $282,254) | ||||||||
| (a) (c) (d) (e) | 21,621 | 88,430 | ||||||
| Nuro, Inc., Series D, (Acquired 10/29/21, Cost $252,025) | ||||||||
| (a) (c) (d) (e) | 12,090 | 49,448 | ||||||
| 137,878 | ||||||||
| Retail — 0.0% | ||||||||
| OfferUp, Inc., Series F, (Acquired 7/01/20, Cost $9,217) | ||||||||
| (a) (c) (d) (e) | 4,025 | 2,777 | ||||||
| 140,655 | ||||||||
| Consumer, Non-cyclical — 0.4% | ||||||||
| Agriculture — 0.0% | ||||||||
| Farmer's Business Network, Inc., Series E, (Acquired 2/11/19, Cost $191,081) | ||||||||
| (a) (c) (d) (e) | 8,198 | 42,794 | ||||||
| Farmer's Business Network, Inc., Series F, (Acquired 7/31/20, Cost $124,028) | ||||||||
| (a) (c) (d) (e) | 3,752 | 19,585 | ||||||
| 62,379 | ||||||||
| Biotechnology — 0.3% | ||||||||
| Genesis Therapeutics, Inc., Series A, (Acquired 11/24/20, Cost $25,262) | ||||||||
| (a) (c) (d) (e) | 4,946 | 25,262 | ||||||
| Inscripta, Inc., Series E, (Acquired 3/30/21, Cost $148,812) | ||||||||
| (a) (c) (d) (e) | 16,853 | 49,042 | ||||||
| Insitro, Inc., Series B, (Acquired 5/21/20, Cost $34,456) | ||||||||
| (a) (c) (d) (e) | 5,530 | 101,150 | ||||||
| Insitro, Inc., Series C, (Acquired 4/07/21, Cost $62,208) | ||||||||
| (a) (c) (d) (e) | 3,401 | 62,208 | ||||||
| Kardium, Inc., Series D-5, (Acquired 11/29/18, Cost $29,906) | ||||||||
| (a) (c) (d) (e) | 30,866 | 26,236 | ||||||
| Kardium, Inc., Series D-6, (Acquired 1/08/21, Cost $145,349) | ||||||||
| (a) (c) (d) (e) | 143,083 | 121,621 | ||||||
| Laronde, Inc., Series B, (Acquired 7/28/21, Cost $109,340) | ||||||||
| (a) (c) (d) (e) | 3,905 | 16,401 | ||||||
| National Resilience, Inc., Series B, (Acquired 10/23/20, Cost $263,720) | ||||||||
| (a) (c) (d) (e) | 19,306 | 1,172,453 | ||||||
| National Resilience, Inc., Series C, (Acquired 6/09/21, Cost $315,045) | ||||||||
| (a) (c) (d) (e) | 7,094 | 430,819 | ||||||
| Tessera Therapeutics, Inc., Series C, (Acquired 2/25/22, Cost $34,499) | ||||||||
| (a) (c) (d) (e) | 1,687 | 34,499 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Treeline Biosciences, Inc., Series A, (Acquired 4/09/21, Cost $40,640) | ||||||||
| (a) (c) (d) (e) | 5,192 | $ | 40,640 | |||||
| 2,080,331 | ||||||||
| Commercial Services — 0.0% | ||||||||
| Honor Technology, Inc., Series D, (Acquired 10/16/20, Cost $225,290) | ||||||||
| (a) (c) (d) (e) | 93,556 | 109,461 | ||||||
| Honor Technology, Inc., Series E, (Acquired 9/29/21, Cost $116,646) | ||||||||
| (a) (c) (d) (e) | 36,897 | 43,169 | ||||||
| Redwood Materials, Inc., Series C, (Acquired 5/28/21, Cost $214,074) | ||||||||
| (a) (c) (d) (e) | 4,516 | 215,575 | ||||||
| 368,205 | ||||||||
| Health Care – Products — 0.1% | ||||||||
| Cleerly, Inc. Series C, (Acquired 7/08/22, Cost $200,211) | ||||||||
| (a) (c) (d) (e) | 16,995 | 152,445 | ||||||
| Ring Therapeutics, Inc., Series B, (Acquired 4/12/21, Cost $50,885) | ||||||||
| (a) (c) (d) (e) | 5,531 | 50,885 | ||||||
| Tempus Labs, Inc., Series D, (Acquired 3/16/18, Cost $21,326) | ||||||||
| (a) (c) (d) (e) | 2,275 | 96,733 | ||||||
| Tempus Labs, Inc., Series E, (Acquired 8/23/18, Cost $29,149) | ||||||||
| (a) (c) (d) (e) | 1,741 | 78,136 | ||||||
| Tempus Labs, Inc., Series F, (Acquired 4/30/19, Cost $17,059) | ||||||||
| (a) (c) (d) (e) | 689 | 32,018 | ||||||
| Tempus Labs, Inc., Series G, (Acquired 2/06/20, Cost $19,176) | ||||||||
| (a) (c) (d) (e) | 500 | 24,245 | ||||||
| Tempus Labs, Inc., Series G-2, (Acquired 11/19/20, Cost $26,075) | ||||||||
| (a) (c) (d) (e) | 455 | 17,645 | ||||||
| 452,107 | ||||||||
| Health Care – Services — 0.0% | ||||||||
| Caris Life Sciences, Inc., Series C, (Acquired 8/14/20, Cost $125,312) | ||||||||
| (a) (c) (d) (e) | 45,403 | 165,267 | ||||||
| Caris Life Sciences, Inc., Series D, (Acquired 5/11/21, Cost $378,132) | ||||||||
| (a) (c) (d) (e) | 46,683 | 169,926 | ||||||
| 335,193 | ||||||||
| Pharmaceuticals — 0.0% | ||||||||
| Capsule, Corp., Series 1 D, (Acquired 4/07/21, Cost $72,328) | ||||||||
| (a) (c) (d) (e) | 4,991 | 7,037 | ||||||
| Haul Hub, Inc., Series B, (Acquired 2/14/20-3/03/21, Cost $108,854) | ||||||||
| (a) (c) (d) (e) | 7,466 | 52,785 | ||||||
| Haul Hub, Inc., Series C, (Acquired 4/14/22, Cost $43,061) | ||||||||
| (a) (c) (d) (e) | 2,282 | 16,134 | ||||||
| 75,956 | ||||||||
| 3,374,171 | ||||||||
| Financial — 0.1% | ||||||||
| Banks — 0.1% | ||||||||
| CRB Group, Inc., Series D, (Acquired 1/28/22, Cost $255,280) | ||||||||
| (a) (c) (d) (e) | 2,428 | 177,268 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Diversified Financial Services — 0.0% | ||||||||
| Color Health, Inc., Series D, (Acquired 12/17/20, Cost $43,490) | ||||||||
| (a) (c) (d) (e) | 1,155 | $ | 22,303 | |||||
| Color Health, Inc., Series D-1, (Acquired 1/13/20, Cost $56,632) | ||||||||
| (a) (c) (d) (e) | 2,655 | 38,285 | ||||||
| Color Health, Inc., Series E, (Acquired 10/26/21, Cost $15,095) | ||||||||
| (a) (c) (d) (e) | 151 | 5,740 | ||||||
| Convoy, Inc., Series C, (Acquired 9/14/18, Cost $127,740) | ||||||||
| (a) (c) (d) (e) | 17,990 | — | ||||||
| Convoy, Inc., Series D, (Acquired 10/30/19, Cost $417,858) | ||||||||
| (a) (c) (d) (e) | 30,861 | — | ||||||
| Convoy, Inc., Series E, (Acquired 9/30/21, Cost $72,706) | ||||||||
| (a) (c) (d) (e) | 4,407 | — | ||||||
| Stash Financial, Inc., Series F, (Acquired 4/24/20, Cost $126,801) | ||||||||
| (a) (c) (d) (e) | 5,060 | 57,633 | ||||||
| Stash Financial, Inc., Series G, (Acquired 1/26/21, Cost $174,908) | ||||||||
| (a) (c) (d) (e) | 4,667 | 53,157 | ||||||
| 177,118 | ||||||||
| Insurance — 0.0% | ||||||||
| Go Maps, Inc., Series B-1, (Acquired 5/15/19-7/29/20, Cost $9,665) | ||||||||
| (a) (c) (d) (e) | 755 | — | ||||||
| 354,386 | ||||||||
| Industrial — 0.2% | ||||||||
| Aerospace & Defense — 0.0% | ||||||||
| ABL Space Systems Company, Series B (Acquired 3/24/21, Cost $328,985) (a) (c) (d) (e) | 7,305 | 256,177 | ||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| CelLink, Inc., Series D (Acquired 1/20/22, Cost $223,836) (a) (c) (d) (e) | 10,749 | 30,420 | ||||||
| Sila Nanotechnologies, Inc., Series F (Acquired 1/07/21, Cost $505,509) (a) (c) (d) (e) | 12,248 | 248,389 | ||||||
| 278,809 | ||||||||
| Electronics — 0.1% | ||||||||
| Sartorius AG 0.434% | 2,678 | 985,290 | ||||||
| 1,520,276 | ||||||||
| Technology — 0.4% | ||||||||
| Computers — 0.0% | ||||||||
| Coalition, Inc., Series E (Acquired 9/07/21, Cost $253,711) (a) (c) (d) (e) | 15,355 | 148,944 | ||||||
| Software — 0.4% | ||||||||
| Checkr, Inc., Series C (Acquired 4/10/18, Cost $106,628) (a) (c) (d) (e) | 23,433 | 126,538 | ||||||
| Checkr, Inc., Series D (Acquired 9/06/19, Cost $308,786) (a) (c) (d) (e) | 30,627 | 165,386 | ||||||
| Databricks, Inc., Series F (Acquired 10/22/19, Cost $104,923) (a) (c) (d) (e) | 7,329 | 538,682 | ||||||
| Databricks, Inc., Series G (Acquired 2/01/21, Cost $50,195) (a) (c) (d) (e) | 849 | 62,402 | ||||||
| Databricks, Inc., Series H (Acquired 8/31/21, Cost $114,856) (a) (c) (d) (e) | 1,563 | 114,881 | ||||||
| DTX Company, Series A-1 (Acquired 2/04/22, Cost $31,212) (a) (c) (d) (e) | 17,154 | 4,803 | ||||||
| Eikon Therapeutics, Inc., Series B (Acquired 12/03/21, Cost $89,186) (a) (c) (d) (e) | 5,042 | 108,398 | ||||||
| Epirus, Inc., Series C-2 (Acquired 1/28/21, Cost $324,592) (a) (c) (d) (e) | 58,131 | 283,098 | ||||||
| Flexe, Inc., Series C (Acquired 11/18/20, Cost $134,849) (a) (c) (d) (e) | 11,083 | 85,117 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| Flexe, Inc., Series D (Acquired 4/07/22, Cost $73,849) (a) (c) (d) (e) | 3,621 | $ | 27,809 | |||||
| Gusto, Inc., Series B (Acquired 8/18/20, Cost $49,238) (a) (c) (d) (e) | 3,644 | 56,045 | ||||||
| Gusto, Inc., Series B-2 (Acquired 8/18/20, Cost $91,936) (a) (c) (d) (e) | 6,804 | 104,646 | ||||||
| Gusto, Inc., Series C (Acquired 7/16/18, Cost $84,209) (a) (c) (d) (e) | 11,076 | 170,349 | ||||||
| Gusto, Inc., Series D (Acquired 7/16/19, Cost $187,638) (a) (c) (d) (e) | 14,095 | 216,781 | ||||||
| KoBold Metals, Inc., Series B-1 (Acquired 1/10/22, Cost $244,807) (a) (c) (d) (e) | 8,931 | 382,080 | ||||||
| Seismic Software, Inc., Series E (Acquired 12/13/18, Cost $117,981) (a) (c) (d) (e) | 18,715 | 134,561 | ||||||
| Seismic Software, Inc., Series F (Acquired 9/25/20, Cost $18,592) (a) (c) (d) (e) | 2,115 | 15,207 | ||||||
| ServiceTitan, Inc., Series A-1 (Acquired 11/09/18, Cost $263) (a) (c) (d) (e) | 10 | 729 | ||||||
| ServiceTitan, Inc., Series D (Acquired 11/09/18, Cost $124,743) (a) (c) (d) (e) | 4,744 | 345,885 | ||||||
| ServiceTitan, Inc., Series E (Acquired 4/23/20, Cost $7,435) (a) (c) (d) (e) | 220 | 16,040 | ||||||
| ServiceTitan, Inc., Series F (Acquired 3/25/21, Cost $25,650) (a) (c) (d) (e) | 239 | 17,425 | ||||||
| Socure, Inc., Series A (Acquired 12/22/21, Cost $75,555) (a) (c) (d) (e) | 4,702 | 29,388 | ||||||
| Socure, Inc., Series A-1 (Acquired 12/22/21, Cost $62,025) (a) (c) (d) (e) | 3,860 | 24,125 | ||||||
| Socure, Inc., Series B (Acquired 12/22/21, Cost $1,109) (a) (c) (d) (e) | 69 | 431 | ||||||
| Socure, Inc., Series E (Acquired 10/27/21, Cost $143,750) (a) (c) (d) (e) | 8,946 | 55,913 | ||||||
| Themis Solutions, Inc., Series AA (Acquired 4/14/21, Cost $24,473) (a) (c) (d) (e) | 1,090 | 21,331 | ||||||
| Themis Solutions, Inc., Series AB (Acquired 4/14/21, Cost $2,694) (a) (c) (d) (e) | 120 | 2,348 | ||||||
| Themis Solutions, Inc., Series B (Acquired 4/14/21, Cost $2,694) (a) (c) (d) (e) | 120 | 2,348 | ||||||
| Themis Solutions, Inc., Series E (Acquired 4/14/21, Cost $309,164) (a) (c) (d) (e) | 13,770 | 269,479 | ||||||
| 3,382,225 | ||||||||
| 3,531,169 | ||||||||
| TOTAL PREFERRED STOCK (Cost $10,701,007) | 9,460,126 | |||||||
| TOTAL EQUITIES (Cost $658,711,802) | 783,289,721 | |||||||
| Principal Amount | ||||||||
| BONDS & NOTES — 0.0% | ||||||||
| CORPORATE DEBT — 0.0% | ||||||||
| Diversified Financial Services — 0.0% | ||||||||
| PRA Group, Inc. | ||||||||
| 5.000% 10/01/29 (b) (f) | $ | 18,000 | 14,854 | |||||
| 7.375% 9/01/25 (f) | 83,000 | 82,365 | ||||||
| 97,219 | ||||||||
| TOTAL CORPORATE DEBT (Cost $91,730) | 97,219 | |||||||
| TOTAL BONDS & NOTES (Cost $91,730) | 97,219 | |||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund — Portfolio of Investments (Continued) |
| Number of Shares | Value | |||||||
| WARRANTS — 0.0% | ||||||||
| Communications — 0.0% | ||||||||
| Advertising — 0.0% | ||||||||
| Advantage Solutions, Inc., Expires 10/28/25, Strike 11.5 (a) | 3,668 | $ | 333 | |||||
| Consumer, Non-cyclical — 0.0% | ||||||||
| Biotechnology — 0.0% | ||||||||
| REVOLUTION Medicines, Inc. (a) | 1,166 | 385 | ||||||
| Financial — 0.0% | ||||||||
| Banks — 0.0% | ||||||||
| Dogwood State Bank (Acquired 5/06/19, Cost $0) (a) (c) (d) (e) | 800 | 6,272 | ||||||
| Diversified Financial Services — 0.0% | ||||||||
| Grasshopper Bancorp, Inc. (Acquired 10/15/18, Cost $0) (a) (c) (d) (e) | 1,432 | 444 | ||||||
| Insurance — 0.0% | ||||||||
| Hagerty, Inc. (a) (d) (e) | 3,040 | 2,959 | ||||||
| 9,675 | ||||||||
| TOTAL WARRANTS (Cost $11,320) | 10,393 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $658,814,852) | 783,397,333 | |||||||
| SHORT-TERM INVESTMENTS — 3.0% | ||||||||
| Investment of Cash Collateral from Securities Loaned — 0.2% | ||||||||
| State Street Navigator Securities Lending Government Money Market Portfolio (g) | 1,354,818 | 1,354,818 | ||||||
| Mutual Fund — 2.7% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 21,761,228 | 21,761,228 | ||||||
| Principal Amount | ||||||||
| Repurchase Agreement — 0.1% | ||||||||
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/29/23, 1.600%, due 1/02/24 (h) | $ | 1,013,821 | 1,013,821 | |||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $24,129,867) | 24,129,867 | |||||||
| TOTAL INVESTMENTS — 100.3% (Cost $682,944,719) (i) | 807,527,200 | |||||||
| Other Assets/(Liabilities) — (0.3)% | (2,361,288) | |||||||
| NET ASSETS — 100.0% | $ | 805,165,912 | ||||||
Abbreviation Legend
| ADR | American Depositary Receipt |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. |
| (b) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2023, was $9,889,400 or 1.23% of net assets. The Fund received $8,821,188 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) | Restricted security. Certain securities are restricted to resale. At December 31, 2023, these securities amounted to a value of $9,675,448 or 1.20% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (d) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2023, these securities amounted to a value of $9,678,407 or 1.20% of net assets. |
| (e) | Investment is valued using significant unobservable inputs. |
| (f) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2023, the aggregate market value of these securities amounted to $97,219 or 0.01% of net assets. |
| (g) | Represents investment of security lending cash collateral. (Note 2). |
| (h) | Maturity value of $1,014,001. Collateralized by U.S. Government Agency obligations with a rate of 0.375%, maturity date of 11/30/25, and an aggregate market value, including accrued interest, of $1,034,108. |
| (i) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Principal Amount | Value | |||||||
| BONDS & NOTES — 99.3% | ||||||||
| U.S. Government Agency Obligations and Instrumentalities (a) — 0.2% | ||||||||
| Collateralized Mortgage Obligations — 0.1% | ||||||||
| Government National Mortgage Association REMICS Series 2020-7, Class KE 2.500% 1/20/50 | $ | 153,065 | $ | 133,446 | ||||
| Pass-Through Securities — 0.1% | ||||||||
| Government National Mortgage Association II | ||||||||
| Pool #MA4484 3.000% 6/20/32 | 104,770 | 99,774 | ||||||
| Pool #MA6381 3.000% 1/20/35 | 56,273 | 53,344 | ||||||
| Pool #MA6630 3.000% 5/20/35 | 26,128 | 24,768 | ||||||
| 177,886 | ||||||||
| TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES (Cost $349,571) | 311,332 | |||||||
| U.S. TREASURY OBLIGATIONS — 99.1% | ||||||||
| U.S. Treasury Bonds & Notes — 99.1% | ||||||||
| U.S. Treasury Bonds | ||||||||
| 1.125% 5/15/40 | 2,960,000 | 1,909,560 | ||||||
| 1.125% 8/15/40 | 5,170,000 | 3,303,408 | ||||||
| 1.250% 5/15/50 | 1,880,700 | 1,016,460 | ||||||
| 1.375% 11/15/40 | 6,110,000 | 4,060,118 | ||||||
| 1.375% 8/15/50 | 4,585,000 | 2,560,264 | ||||||
| 1.625% 11/15/50 | 3,580,000 | 2,137,386 | ||||||
| 1.750% 8/15/41 | 6,940,000 | 4,833,060 | ||||||
| 1.875% 2/15/41 | 7,480,000 | 5,383,263 | ||||||
| 1.875% 2/15/51 | 5,115,000 | 3,252,535 | ||||||
| 1.875% 11/15/51 | 4,775,000 | 3,026,068 | ||||||
| 2.000% 11/15/41 | 10,070,000 | 7,297,603 | ||||||
| 2.000% 2/15/50 | 3,535,000 | 2,330,718 | ||||||
| 2.000% 8/15/51 | 3,700,000 | 2,421,681 | ||||||
| 2.250% 5/15/41 | 7,690,000 | 5,867,230 | ||||||
| 2.250% 8/15/49 | 2,550,000 | 1,784,281 | ||||||
| 2.250% 2/15/52 | 11,895,000 | 8,263,899 | ||||||
| 2.375% 2/15/42 | 4,495,000 | 3,454,829 | ||||||
| 2.375% 11/15/49 | 2,220,000 | 1,595,972 | ||||||
| 2.375% 5/15/51 | 2,440,000 | 1,745,744 | ||||||
| 2.875% 5/15/49 | 2,480,000 | 1,975,475 | ||||||
| 2.875% 5/15/52 | 3,985,000 | 3,179,667 | ||||||
| 3.000% 2/15/49 | 2,480,000 | 2,022,750 | ||||||
| 3.000% 8/15/52 | 5,555,000 | 4,552,645 | ||||||
| 3.250% 5/15/42 | 1,945,000 | 1,709,169 | ||||||
| 3.375% 8/15/42 | 5,560,000 | 4,966,694 | ||||||
| 3.625% 2/15/53 | 6,779,300 | 6,275,090 | ||||||
| 3.625% 5/15/53 | 9,830,000 | 9,111,181 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund — Portfolio of Investments (Continued) |
| Principal Amount | Value | |||||||
| 3.875% 2/15/43 (b) | $ | 19,955,000 | $ | 19,064,492 | ||||
| 3.875% 5/15/43 | 8,910,000 | 8,511,287 | ||||||
| 4.000% 11/15/42 | 7,395,000 | 7,200,432 | ||||||
| 4.000% 11/15/52 | 3,159,500 | 3,124,449 | ||||||
| 4.125% 8/15/53 | 7,654,100 | 7,755,786 | ||||||
| 4.375% 8/15/43 | 5,495,000 | 5,618,638 | ||||||
| 4.750% 11/15/53 | 350,000 | 393,531 | ||||||
| U.S. Treasury Inflation-Indexed Notes | ||||||||
| 1.375% 7/15/33 | 1,792,460 | 1,737,643 | ||||||
| 153,443,008 | ||||||||
| TOTAL U.S. TREASURY OBLIGATIONS (Cost $186,024,580) | 153,443,008 | |||||||
| TOTAL BONDS & NOTES (Cost $186,374,151) | 153,754,340 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $186,374,151) | 153,754,340 | |||||||
| Number of Shares | ||||||||
| SHORT-TERM INVESTMENTS — 0.0% | ||||||||
| Mutual Fund — 0.0% | ||||||||
| T. Rowe Price Government Reserve Investment Fund | 70 | 70 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $70) | 70 | |||||||
| TOTAL INVESTMENTS — 99.3% (Cost $186,374,221) (c) | 153,754,410 | |||||||
| Other Assets/(Liabilities) — 0.7% | 1,100,244 | |||||||
| NET ASSETS — 100.0% | $ | 154,854,654 | ||||||
Abbreviation Legend
| REMICS | Real Estate Mortgage Investment Conduits |
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | May contain securities that are issued by a U.S. Government Agency, but are unsecured and are not guaranteed by a U.S. Government Agency. |
| (b) | All or a portion of this security is pledged/held as collateral for open derivatives. |
| (c) | See Note 3 for aggregate cost for federal tax purposes. |
| Exchange-Traded Options Written | ||||||||||||||||||||||||||||
| Description | Expiration Date | Exercise Price | No. of Contracts | Notional Amount | Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||
| Call | ||||||||||||||||||||||||||||
| U.S. Treasury Note 10 Year Future | 1/26/24 | 111.50 | 134 | USD | 15,127,344 | $ | (236,594) | $ | (100,263) | $ | (136,331) | |||||||||||||||||
| Futures contracts | ||||||||||||||
| Expiration Date | Number of Contracts | Notional Amount | Value/ Net Unrealized Appreciation (Depreciation) | |||||||||||
| Long | ||||||||||||||
| U.S. Treasury Note 10 Year | 3/19/24 | 44 | $ | 4,857,946 | $ | 109,241 | ||||||||
| U.S. Treasury Ultra Bond | 3/19/24 | 18 | 2,256,776 | 147,912 | ||||||||||
| $ | 257,153 | |||||||||||||
| Short | ||||||||||||||
| U.S. Treasury Ultra 10 Year | 3/19/24 | 16 | $ | (1,832,634) | $ | (55,616) | ||||||||
Currency Legend
| USD | U.S. Dollar |
| MassMutual Select T. Rowe Price Retirement Balanced Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 40.7% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,955,508 | $ | 20,806,603 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 2,363,810 | 31,391,395 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 448,613 | 5,123,164 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 884,891 | 11,078,837 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 486,885 | 7,434,736 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 696,308 | 7,436,574 | ||||||
| 83,271,309 | ||||||||
| Fixed Income Funds — 59.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 4,985,236 | 42,823,181 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 1,030,063 | 7,818,177 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 4,340,071 | 38,930,433 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 1,350,867 | 7,065,032 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 4,637,362 | 4,637,362 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 290,064 | 2,561,264 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 958,114 | 7,444,545 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 302,507 | 2,861,720 | ||||||
| T. Rowe Price Institutional High Yield Fund | 905,676 | 7,100,502 | ||||||
| 121,242,216 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $219,003,305) | 204,513,525 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $219,003,305) | 204,513,525 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $219,003,305) (b) | 204,513,525 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (33,313) | |||||||
| NET ASSETS — 100.0% | $ | 204,480,212 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2005 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 99.9% | ||||||||
| Equity Funds — 43.0% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 179,450 | $ | 1,909,349 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 209,902 | 2,787,504 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 40,630 | 463,995 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 81,653 | 1,022,291 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 43,416 | 662,956 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 69,611 | 743,444 | ||||||
| 7,589,539 | ||||||||
| Fixed Income Funds — 56.9% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 431,671 | 3,708,053 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 86,771 | 658,590 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 322,926 | 2,896,644 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 118,918 | 621,941 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 442,040 | 442,040 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 27,459 | 242,466 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 81,529 | 633,484 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 25,556 | 241,759 | ||||||
| T. Rowe Price Institutional High Yield Fund | 78,493 | 615,388 | ||||||
| 10,060,365 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $18,231,465) | 17,649,904 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $18,231,465) | 17,649,904 | |||||||
| TOTAL INVESTMENTS — 99.9% (Cost $18,231,465) (b) | 17,649,904 | |||||||
| Other Assets/(Liabilities) — 0.1% | 25,904 | |||||||
| NET ASSETS — 100.0% | $ | 17,675,808 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2010 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 46.7% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,104,481 | $ | 11,751,681 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 1,313,885 | 17,448,387 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 251,673 | 2,874,106 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 508,099 | 6,361,402 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 264,080 | 4,032,495 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 423,771 | 4,525,879 | ||||||
| 46,993,950 | ||||||||
| Fixed Income Funds — 53.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 2,350,751 | 20,192,948 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 469,375 | 3,562,558 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,618,065 | 14,514,044 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 681,668 | 3,565,123 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 2,473,319 | 2,473,319 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 147,020 | 1,298,190 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 445,116 | 3,458,548 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 138,062 | 1,306,068 | ||||||
| T. Rowe Price Institutional High Yield Fund | 426,960 | 3,347,363 | ||||||
| 53,718,161 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $107,293,646) | 100,712,111 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $107,293,646) | 100,712,111 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $107,293,646) (b) | 100,712,111 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (2,610) | |||||||
| NET ASSETS — 100.0% | $ | 100,709,501 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2015 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 49.7% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 1,296,915 | $ | 13,799,173 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 1,541,648 | 20,473,087 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 296,904 | 3,390,648 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 590,135 | 7,388,490 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 320,223 | 4,889,803 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 490,154 | 5,234,846 | ||||||
| 55,176,047 | ||||||||
| Fixed Income Funds — 50.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 2,525,620 | 21,695,078 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 497,396 | 3,775,237 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,559,944 | 13,992,702 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 758,720 | 3,968,106 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 2,477,270 | 2,477,270 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 153,296 | 1,353,603 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 479,663 | 3,726,981 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 148,048 | 1,400,537 | ||||||
| T. Rowe Price Institutional High Yield Fund | 453,628 | 3,556,443 | ||||||
| 55,945,957 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $118,145,490) | 111,122,004 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $118,145,490) | 111,122,004 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $118,145,490) (b) | 111,122,004 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (322) | |||||||
| NET ASSETS — 100.0% | $ | 111,121,682 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2020 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 53.0% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 6,217,056 | $ | 66,149,478 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 7,328,638 | 97,324,309 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,412,501 | 16,130,767 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 2,824,785 | 35,366,305 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,424,880 | 21,757,919 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 2,399,831 | 25,630,191 | ||||||
| 262,358,969 | ||||||||
| Fixed Income Funds — 47.0% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 10,852,595 | 93,223,789 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 2,067,743 | 15,694,166 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 5,891,740 | 52,848,908 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 3,313,783 | 17,331,086 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 11,187,337 | 11,187,337 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 676,390 | 5,972,522 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 2,036,362 | 15,822,530 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 606,724 | 5,739,608 | ||||||
| T. Rowe Price Institutional High Yield Fund | 1,929,254 | 15,125,351 | ||||||
| 232,945,297 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $525,185,183) | 495,304,266 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $525,185,183) | 495,304,266 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $525,185,183) (b) | 495,304,266 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (177,858) | |||||||
| NET ASSETS — 100.0% | $ | 495,126,408 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2025 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 58.7% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 7,482,419 | $ | 79,612,935 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 8,925,710 | 118,533,436 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,684,078 | 19,232,166 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 3,377,354 | 42,284,466 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,617,334 | 24,696,692 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 2,377,786 | 25,394,757 | ||||||
| 309,754,452 | ||||||||
| Fixed Income Funds — 41.3% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 10,572,289 | 90,815,966 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 1,906,718 | 14,471,992 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 4,736,565 | 42,486,989 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 3,589,326 | 18,772,173 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 12,485,539 | 12,485,539 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 525,999 | 4,644,573 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 1,961,175 | 15,238,329 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 551,464 | 5,216,845 | ||||||
| T. Rowe Price Institutional High Yield Fund | 1,760,318 | 13,800,893 | ||||||
| 217,933,299 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $560,065,387) | 527,687,751 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $560,065,387) | 527,687,751 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $560,065,387) (b) | 527,687,751 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (172,890) | |||||||
| NET ASSETS — 100.0% | $ | 527,514,861 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2030 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 69.2% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 23,902,109 | $ | 254,318,440 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 28,525,437 | 378,817,798 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 5,142,998 | 58,733,043 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 10,732,153 | 134,366,553 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 5,396,653 | 82,406,898 | ||||||
| T. Rowe Price Hedged Equity Fund, Class I | 3,058,139 | 32,660,922 | ||||||
| 941,303,654 | ||||||||
| Fixed Income Funds — 30.8% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 22,501,143 | 193,284,814 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 3,328,642 | 25,264,396 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 4,989,673 | 44,757,364 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 9,309,037 | 48,686,265 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 33,310,633 | 33,310,633 | ||||||
| T. Rowe Price Dynamic Credit Fund, Class I | 375,041 | 3,311,610 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 4,094,059 | 31,810,839 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 1,103,475 | 10,438,874 | ||||||
| T. Rowe Price Institutional High Yield Fund | 3,492,549 | 27,381,582 | ||||||
| 418,246,377 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,394,277,368) | 1,359,550,031 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,394,277,368) | 1,359,550,031 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,394,277,368) (b) | 1,359,550,031 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (584,911) | |||||||
| NET ASSETS — 100.0% | $ | 1,358,965,120 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2035 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 80.5% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 15,913,208 | $ | 169,316,532 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 19,225,539 | 255,315,158 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 3,336,457 | 38,102,342 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 6,950,344 | 87,018,301 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 4,063,321 | 62,046,912 | ||||||
| 611,799,245 | ||||||||
| Fixed Income Funds — 19.5% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 8,758,392 | 75,234,583 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 1,057,465 | 8,026,156 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 6,180 | 55,433 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 4,428,323 | 23,160,130 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 16,421,269 | 16,421,269 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 1,567,010 | 12,175,671 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 349,844 | 3,309,523 | ||||||
| T. Rowe Price Institutional High Yield Fund | 1,226,416 | 9,615,104 | ||||||
| 147,997,869 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $775,742,259) | 759,797,114 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $775,742,259) | 759,797,114 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $775,742,259) (b) | 759,797,114 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (295,302) | |||||||
| NET ASSETS — 100.0% | $ | 759,501,812 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2040 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 89.8% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 30,666,061 | $ | 326,286,891 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 37,124,578 | 493,014,389 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 6,395,251 | 73,033,769 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 13,389,567 | 167,637,378 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 8,001,415 | 122,181,611 | ||||||
| 1,182,154,038 | ||||||||
| Fixed Income Funds — 10.2% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 7,247,457 | 62,255,659 | ||||||
| MassMutual Select T. Rowe Price Emerging Markets Bond Fund, Class I (a) | 508,735 | 3,861,300 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 27,702 | 248,490 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 4,231,625 | 22,131,401 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 26,888,412 | 26,888,412 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 1,278,343 | 9,932,729 | ||||||
| T. Rowe Price Institutional Floating Rate Fund | 211,292 | 1,998,827 | ||||||
| T. Rowe Price Institutional High Yield Fund | 843,068 | 6,609,649 | ||||||
| 133,926,467 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,307,258,216) | 1,316,080,505 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,307,258,216) | 1,316,080,505 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $1,307,258,216) (b) | 1,316,080,505 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (586,919) | |||||||
| NET ASSETS — 100.0% | $ | 1,315,493,586 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2045 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 95.9% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 15,801,994 | $ | 168,133,216 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 19,179,666 | 254,705,961 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 3,290,586 | 37,578,491 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 6,881,370 | 86,154,748 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 4,225,103 | 64,517,320 | ||||||
| 611,089,736 | ||||||||
| Fixed Income Funds — 4.1% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 1,192,502 | 10,243,590 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 7,775 | 69,738 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 987,312 | 5,163,642 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 9,090,864 | 9,090,864 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 192,537 | 1,496,015 | ||||||
| 26,063,849 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $640,260,924) | 637,153,585 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $640,260,924) | 637,153,585 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $640,260,924) (b) | 637,153,585 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (249,693) | |||||||
| NET ASSETS — 100.0% | $ | 636,903,892 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2050 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 97.5% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 24,043,100 | $ | 255,818,587 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 29,249,107 | 388,428,137 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 5,004,450 | 57,150,815 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 10,481,991 | 131,234,529 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 6,416,573 | 97,981,068 | ||||||
| 930,613,136 | ||||||||
| Fixed Income Funds — 2.5% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 680,921 | 5,849,112 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 12,145 | 108,940 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 517,413 | 2,706,069 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 14,345,874 | 14,345,874 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 114,361 | 888,584 | ||||||
| 23,898,579 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $943,936,684) | 954,511,715 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $943,936,684) | 954,511,715 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $943,936,684) (b) | 954,511,715 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (434,479) | |||||||
| NET ASSETS — 100.0% | $ | 954,077,236 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2055 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 98.2% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 10,960,964 | $ | 116,624,653 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 13,339,915 | 177,154,070 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 2,270,258 | 25,926,341 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 4,783,847 | 59,893,759 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 2,914,974 | 44,511,661 | ||||||
| 424,110,484 | ||||||||
| Fixed Income Funds — 1.8% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 269,761 | 2,317,246 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 2,610 | 23,415 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 211,976 | 1,108,634 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 4,151,323 | 4,151,323 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 53,671 | 417,024 | ||||||
| 8,017,642 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $433,428,953) | 432,128,126 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $433,428,953) | 432,128,126 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $433,428,953) (b) | 432,128,126 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (161,676) | |||||||
| NET ASSETS — 100.0% | $ | 431,966,450 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2060 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 100.0% | ||||||||
| Equity Funds — 98.1% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 6,449,412 | $ | 68,621,739 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 7,852,776 | 104,284,868 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 1,339,719 | 15,299,589 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 2,824,047 | 35,357,066 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 1,712,317 | 26,147,079 | ||||||
| 249,710,341 | ||||||||
| Fixed Income Funds — 1.9% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 167,352 | 1,437,553 | ||||||
| MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund, Class I (a) | 1,256 | 11,267 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 125,415 | 655,920 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 2,550,757 | 2,550,757 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 30,382 | 236,065 | ||||||
| 4,891,562 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $254,549,430) | 254,601,903 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $254,549,430) | 254,601,903 | |||||||
| TOTAL INVESTMENTS — 100.0% (Cost $254,549,430) (b) | 254,601,903 | |||||||
| Other Assets/(Liabilities) — (0.0)% | (88,589) | |||||||
| NET ASSETS — 100.0% | $ | 254,513,314 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| MassMutual Select T. Rowe Price Retirement 2065 Fund — Portfolio of Investments |
December 31, 2023 (Unaudited)
| Number of Shares | Value | |||||||
| MUTUAL FUNDS — 99.8% | ||||||||
| Equity Funds — 97.9% | ||||||||
| MassMutual Select T. Rowe Price International Equity Fund, Class I (a) | 51,999 | $ | 553,268 | |||||
| MassMutual Select T. Rowe Price Large Cap Blend Fund, Class I (a) | 62,484 | 829,783 | ||||||
| MassMutual Select T. Rowe Price Real Assets Fund, Class I (a) | 10,983 | 125,420 | ||||||
| MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund, Class I (a) | 22,514 | 281,872 | ||||||
| MM S&P 500 Index Fund, Class I (a) | 13,621 | 207,997 | ||||||
| 1,998,340 | ||||||||
| Fixed Income Funds — 1.9% | ||||||||
| MassMutual Select T. Rowe Price Bond Asset Fund, Class I (a) | 1,323 | 11,364 | ||||||
| MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund, Class I (a) | 1,072 | 5,606 | ||||||
| State Street Institutional U.S. Government Money Market Fund | 19,239 | 19,239 | ||||||
| T. Rowe Price Dynamic Global Bond Fund, Class I | 262 | 2,033 | ||||||
| 38,242 | ||||||||
| TOTAL MUTUAL FUNDS (Cost $1,940,538) | 2,036,582 | |||||||
| TOTAL LONG-TERM INVESTMENTS (Cost $1,940,538) | 2,036,582 | |||||||
| TOTAL INVESTMENTS — 99.8% (Cost $1,940,538) (b) | 2,036,582 | |||||||
| Other Assets/(Liabilities) — 0.2% | 3,880 | |||||||
| NET ASSETS — 100.0% | $ | 2,040,462 | ||||||
Notes to Portfolio of Investments
Percentages are stated as a percent of net assets.
| (a) | Affiliated issuer. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |
| Notes to Portfolio of Investments (Unaudited) |
1. The Funds
MassMutual Select Funds (the "Trust") is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated May 28, 1993, as amended and restated as of November 21, 2011, as it may be further amended from time to time. The Trust consists of the following series (each individually referred to as a "Fund" or collectively as the "Funds"):
MassMutual Total Return Bond Fund ("Total Return Bond Fund")
MassMutual Strategic Bond Fund ("Strategic Bond Fund")
MassMutual Diversified Value Fund ("Diversified Value Fund")
MassMutual Fundamental Value Fund ("Fundamental Value Fund")
MM S&P 500® Index Fund ("S&P 500 Index Fund")
MassMutual Equity Opportunities Fund ("Equity Opportunities Fund")
MassMutual Fundamental Growth Fund ("Fundamental Growth Fund")
MassMutual Blue Chip Growth Fund ("Blue Chip Growth Fund")
MassMutual Growth Opportunities Fund ("Growth Opportunities Fund")
MassMutual Mid Cap Value Fund ("Mid Cap Value Fund")
MassMutual Small Cap Value Equity Fund ("Small Cap Value Equity Fund")
MassMutual Small Company Value Fund ("Small Company Value Fund")
MassMutual Mid Cap Growth Fund ("Mid Cap Growth Fund")
MassMutual Small Cap Growth Equity Fund ("Small Cap Growth Equity Fund")
MassMutual Overseas Fund ("Overseas Fund")
MassMutual Select T. Rowe Price International Equity Fund ("MM Select T. Rowe Price International Equity Fund")
MassMutual 20/80 Allocation Fund ("20/80 Allocation Fund")
MassMutual 40/60 Allocation Fund ("40/60 Allocation Fund")
MassMutual 60/40 Allocation Fund ("60/40 Allocation Fund")
MassMutual 80/20 Allocation Fund ("80/20 Allocation Fund")
MassMutual RetireSMARTSM by JPMorgan In Retirement Fund ("MM RetireSMART by JPMorgan In Retirement Fund")
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MassMutual RetireSMARTSM by JPMorgan 2020 Fund ("MM RetireSMART by JPMorgan 2020 Fund")
MassMutual RetireSMARTSM by JPMorgan 2025 Fund ("MM RetireSMART by JPMorgan 2025 Fund")
MassMutual RetireSMARTSM by JPMorgan 2030 Fund ("MM RetireSMART by JPMorgan 2030 Fund")
MassMutual RetireSMARTSM by JPMorgan 2035 Fund ("MM RetireSMART by JPMorgan 2035 Fund")
MassMutual RetireSMARTSM by JPMorgan 2040 Fund ("MM RetireSMART by JPMorgan 2040 Fund")
MassMutual RetireSMARTSM by JPMorgan 2045 Fund ("MM RetireSMART by JPMorgan 2045 Fund")
MassMutual RetireSMARTSM by JPMorgan 2050 Fund ("MM RetireSMART by JPMorgan 2050 Fund")
MassMutual RetireSMARTSM by JPMorgan 2055 Fund ("MM RetireSMART by JPMorgan 2055 Fund")
MassMutual RetireSMARTSM by JPMorgan 2060 Fund ("MM RetireSMART by JPMorgan 2060 Fund")
MassMutual RetireSMARTSM by JPMorgan 2065 Fund ("MM RetireSMART by JPMorgan 2065 Fund")
MM Equity Asset Fund ("Equity Asset Fund")
MassMutual Select T. Rowe Price Bond Asset Fund ("MM Select T. Rowe Price Bond Asset Fund")
MassMutual Select T. Rowe Price Emerging Markets Bond Fund ("MM Select T. Rowe Price Emerging Markets Bond Fund")
MassMutual Select T. Rowe Price Large Cap Blend Fund ("MM Select T. Rowe Price Large Cap Blend Fund")
MassMutual Select T. Rowe Price Limited Duration Inflation Focused Bond Fund ("MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund")
MassMutual Select T. Rowe Price Real Assets Fund ("MM Select T. Rowe Price Real Assets Fund")
MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund ("MM Select T. Rowe Price Small and Mid Cap Blend Fund")
MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund ("MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund")
MassMutual Select T. Rowe Price Retirement Balanced Fund ("MM Select T. Rowe Price Retirement Balanced Fund")
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MassMutual Select T. Rowe Price Retirement 2005 Fund ("MM Select T. Rowe Price Retirement 2005 Fund")
MassMutual Select T. Rowe Price Retirement 2010 Fund ("MM Select T. Rowe Price Retirement 2010 Fund")
MassMutual Select T. Rowe Price Retirement 2015 Fund ("MM Select T. Rowe Price Retirement 2015 Fund")
MassMutual Select T. Rowe Price Retirement 2020 Fund ("MM Select T. Rowe Price Retirement 2020 Fund")
MassMutual Select T. Rowe Price Retirement 2025 Fund ("MM Select T. Rowe Price Retirement 2025 Fund")
MassMutual Select T. Rowe Price Retirement 2030 Fund ("MM Select T. Rowe Price Retirement 2030 Fund")
MassMutual Select T. Rowe Price Retirement 2035 Fund ("MM Select T. Rowe Price Retirement 2035 Fund")
MassMutual Select T. Rowe Price Retirement 2040 Fund ("MM Select T. Rowe Price Retirement 2040 Fund")
MassMutual Select T. Rowe Price Retirement 2045 Fund ("MM Select T. Rowe Price Retirement 2045 Fund")
MassMutual Select T. Rowe Price Retirement 2050 Fund ("MM Select T. Rowe Price Retirement 2050 Fund")
MassMutual Select T. Rowe Price Retirement 2055 Fund ("MM Select T. Rowe Price Retirement 2055 Fund")
MassMutual Select T. Rowe Price Retirement 2060 Fund ("MM Select T. Rowe Price Retirement 2060 Fund")
MassMutual Select T. Rowe Price Retirement 2065 Fund ("MM Select T. Rowe Price Retirement 2065 Fund")
The 20/80 Allocation Fund, 40/60 Allocation Fund, 60/40 Allocation Fund, and 80/20 Allocation Fund (the "MM Target Allocation Funds") invest their investable assets in shares of MassMutual Funds advised by MML Investment Advisers, LLC ("MML Advisers") and non-affiliated mutual funds (together, the "MM Target Allocation Underlying Funds").
The MM RetireSMART by JPMorgan In Retirement Fund, MM RetireSMART by JPMorgan 2020 Fund, MM RetireSMART by JPMorgan 2025 Fund, MM RetireSMART by JPMorgan 2030 Fund, MM RetireSMART by JPMorgan 2035 Fund, MM RetireSMART by JPMorgan 2040 Fund, MM RetireSMART by JPMorgan 2045 Fund, MM RetireSMART by JPMorgan 2050 Fund, MM RetireSMART by JPMorgan 2055 Fund, MM RetireSMART by JPMorgan 2060 Fund, and MM RetireSMART by JPMorgan 2065 Fund (the "MM RetireSMART by JPMorgan Funds") invest their investable assets in shares of MassMutual Funds, J.P. Morgan Funds advised by J.P. Morgan Investment Management Inc. ("J.P. Morgan") or its affiliates, and non-affiliated mutual funds (together, the "MM RetireSMART by JPMorgan Underlying Funds").
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The MM Select T. Rowe Price Retirement Balanced Fund, MM Select T. Rowe Price Retirement 2005 Fund, MM Select T. Rowe Price Retirement 2010 Fund, MM Select T. Rowe Price Retirement 2015 Fund, MM Select T. Rowe Price Retirement 2020 Fund, MM Select T. Rowe Price Retirement 2025 Fund, MM Select T. Rowe Price Retirement 2030 Fund, MM Select T. Rowe Price Retirement 2035 Fund, MM Select T. Rowe Price Retirement 2040 Fund, MM Select T. Rowe Price Retirement 2045 Fund, MM Select T. Rowe Price Retirement 2050 Fund, MM Select T. Rowe Price Retirement 2055 Fund, MM Select T. Rowe Price Retirement 2060 Fund, and MM Select T. Rowe Price Retirement 2065 Fund (the "MM Select T. Rowe Price Retirement Funds") invest their investable assets primarily in shares of MassMutual Funds and T. Rowe Price Funds (together, the "MM Select T. Rowe Price Underlying Funds"). The MM Target Allocation Underlying Funds, MM RetireSMART by JPMorgan Underlying Funds, and MM Select T. Rowe Price Underlying Funds are hereinafter collectively referred to as the ("Underlying Funds").
2. Significant Accounting Policies
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.
Investment Valuation
The net asset value of each Fund’s shares is determined once daily as of the close of regular trading on the New York Stock Exchange ("NYSE"), on each day the NYSE is open for trading (a "business day"). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes; instead, MML Advisers will determine the fair value of a Fund’s securities in accordance with MML Advisers’ fair valuation policy and procedures. On holidays and other days when the NYSE is closed, each Fund’s net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund’s assets may still be affected on such days to the extent that a Fund or an Underlying Fund holds foreign securities that trade on days that foreign securities markets are open.
The net asset value of each of the MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and MM Select T. Rowe Price Retirement Funds is based upon the net asset value(s) of its corresponding Underlying Funds. Shares of the Underlying Funds are valued at their closing net asset values as reported on each business day.
The Prospectuses and Statements of Additional Information ("SAIs") for the Underlying Funds explain the valuation methods for the Underlying Funds, including the circumstances under which the Underlying Funds may use fair value pricing and the effects of doing so. Such Prospectuses and SAIs are available on the Securities and Exchange Commission’s ("SEC") EDGAR database on its website at http://www.sec.gov.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System ("NASDAQ System"), or in the case of over-the-counter ("OTC") securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.
Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral.
The Board of Trustees ("Trustees") have designated MML Advisers as the Funds’ "valuation designee," responsible for determining the fair value, in good faith, of securities and other instruments held by the Funds for which market quotations are not readily available or for which such market quotations or values are considered by MML Advisers or a subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event). It is possible that a significant amount of a Fund’s assets will be subject to fair valuation in accordance with MML Advisers’ fair valuation policy and procedures. The fair value determined for an investment by MML Advisers may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The Funds and certain Underlying Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.
Investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and any other investments fair valued using significant unobservable inputs may be fair valued using alternate valuation approaches including the following:
Market approach: considers factors including the price of recent investments in the same or similar security or financial metrics of comparable securities.
Income approach: considers factors including expected future cash flows, security specific risks, and corresponding discount rates.
Cost approach: considers factors including the value of the security's underlying assets and liabilities.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Investments in series of preferred stock issued by Private Companies are typically valued utilizing the Market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Valuation techniques such as the current value method ("CVM"), an option pricing model ("OPM"), a probability weighted expected return model ("PWERM"), or a hybrid of those techniques are used in allocating enterprise value of the company, as deemed appropriate under the circumstances. The CVM allocates value among the various parts of a company’s capital structure assuming that the value of convertible preferred stock is represented by the most favorable claim the preferred stockholders have on the enterprise value as of the valuation date. The use of OPM and PWERM techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.
The Private Companies are not subject to the public company disclosure, timing, and reporting standards as other investments held by a Fund. Typically, the most recently available information for a Private Company is as of a date that is earlier than the date a Fund is calculating its net asset value. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.
Level 1 – quoted prices (unadjusted) in active markets for identical investments that the Funds can access at the measurement date
Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.
In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.
The Fundamental Growth Fund characterized all long-term investments at Level 1, and all short-term investments at Level 2, as of December 31, 2023. The MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and the MM Select T. Rowe Price Retirement Funds characterized all investments at Level 1, as of December 31, 2023. For each Fund noted in the preceding sentences, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
The following is the aggregate value by input level, as of December 31, 2023, for the remaining Funds' investments:
| Total Return Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 13,808,217 | $ | — | $ | 13,808,217 | ||||||||
| Corporate Debt | — | 190,694,755 | — | 190,694,755 | ||||||||||||
| Municipal Obligations | — | 5,304,456 | — | 5,304,456 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 133,329,416 | — | 133,329,416 | ||||||||||||
| Sovereign Debt Obligations | — | 4,538,677 | — | 4,538,677 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 338,490,686 | — | 338,490,686 | ||||||||||||
| U.S. Treasury Obligations | — | 261,901,409 | — | 261,901,409 | ||||||||||||
| Common Stock | 477,502 | — | — | 477,502 | ||||||||||||
| Short-Term Investments | 13,775,725 | 96,460,325 | — | 110,236,050 | ||||||||||||
| Total Investments | $ | 14,253,227 | $ | 1,044,527,941 | $ | — | $ | 1,058,781,168 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 5,101 | $ | — | $ | 5,101 | ||||||||
| Futures Contracts | 3,118,255 | — | — | 3,118,255 | ||||||||||||
| Total | $ | 3,118,255 | $ | 5,101 | $ | — | $ | 3,123,356 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (349,953 | ) | $ | — | $ | (349,953 | ) | ||||||
| Futures Contracts | (289,708 | ) | — | — | (289,708 | ) | ||||||||||
| Swap Agreements | — | (179,282 | ) | — | (179,282 | ) | ||||||||||
| Total | $ | (289,708 | ) | $ | (529,235 | ) | $ | — | $ | (818,943 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Strategic Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 6,532,848 | $ | — | $ | 6,532,848 | ||||||||
| Corporate Debt | — | 100,748,361 | — | 100,748,361 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 30,491,059 | — | 30,491,059 | ||||||||||||
| Sovereign Debt Obligations | — | 14,278,101 | — | 14,278,101 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 153,286,380 | — | 153,286,380 | ||||||||||||
| U.S. Treasury Obligations | — | 86,323,531 | — | 86,323,531 | ||||||||||||
| Purchased Options | 90,989 | 11,838 | — | 102,827 | ||||||||||||
| Short-Term Investments | 4,693,315 | 7,440,501 | — | 12,133,816 | ||||||||||||
| Total Investments | $ | 4,784,304 | $ | 399,112,619 | $ | — | $ | 403,896,923 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 760,339 | $ | — | $ | 760,339 | ||||||||
| Futures Contracts | 8,611,803 | — | — | 8,611,803 | ||||||||||||
| Swap Agreements | — | 2,149,635 | — | 2,149,635 | ||||||||||||
| Total | $ | 8,611,803 | $ | 2,909,974 | $ | — | $ | 11,521,777 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (178,735 | ) | $ | — | $ | (178,735 | ) | ||||||
| Futures Contracts | (2,240,540 | ) | — | — | (2,240,540 | ) | ||||||||||
| Swap Agreements | — | (334,135 | ) | — | (334,135 | ) | ||||||||||
| Written Options | (167,224 | ) | (10,045 | ) | — | (177,269 | ) | |||||||||
| Total | $ | (2,407,764 | ) | $ | (522,915 | ) | $ | — | $ | (2,930,679 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Diversified Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 286,251,596 | $ | 6,442,002 | * | $ | — | $ | 292,693,598 | |||||||
| Preferred Stock | — | 1,922,333 | * | — | 1,922,333 | |||||||||||
| Mutual Funds | 2,417,607 | — | — | 2,417,607 | ||||||||||||
| Short-Term Investments | 214,680 | 2,332,474 | — | 2,547,154 | ||||||||||||
| Total Investments | $ | 288,883,883 | $ | 10,696,809 | $ | — | $ | 299,580,692 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Fundamental Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 429,723,184 | $ | — | $ | — | $ | 429,723,184 | ||||||||
| Short-Term Investments | 2,027,172 | 7,673,615 | — | 9,700,787 | ||||||||||||
| Total Investments | $ | 431,750,356 | $ | 7,673,615 | $ | — | $ | 439,423,971 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| S&P 500 Index Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,655,450,556 | $ | — | $ | — | $ | 2,655,450,556 | ||||||||
| Short-Term Investments | — | 5,860,691 | — | 5,860,691 | ||||||||||||
| Total Investments | $ | 2,655,450,556 | $ | 5,860,691 | $ | — | $ | 2,661,311,247 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Futures Contracts | $ | 134,759 | $ | — | $ | — | $ | 134,759 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Equity Opportunities Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 609,948,321 | $ | 11,694,450 | * | $ | — | $ | 621,642,771 | |||||||
| Preferred Stock | — | 3,440,735 | * | — | 3,440,735 | |||||||||||
| Short-Term Investments | 368,323 | 17,249,920 | — | 17,618,243 | ||||||||||||
| Total Investments | $ | 610,316,644 | $ | 32,385,105 | $ | — | $ | 642,701,749 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Blue Chip Growth Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,315,097,478 | $ | 3,064,693 | $ | 3,039,637 | $ | 2,321,201,808 | ||||||||
| Preferred Stock | — | — | 3,882,992 | 3,882,992 | ||||||||||||
| Corporate Debt | — | 2,792,593 | — | 2,792,593 | ||||||||||||
| Short-Term Investments | 882,041 | 20,405,990 | — | 21,288,031 | ||||||||||||
| Total Investments | $ | 2,315,979,519 | $ | 26,263,276 | $ | 6,922,629 | $ | 2,349,165,424 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Growth Opportunities Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 145,059,406 | $ | — | $ | — | $ | 145,059,406 | ||||||||
| Short-Term Investments | 2,922,746 | 1,123,127 | — | 4,045,873 | ||||||||||||
| Total Investments | $ | 147,982,152 | $ | 1,123,127 | $ | — | $ | 149,105,279 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Mid Cap Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 88,098,927 | $ | 2,523,091 | * | $ | — | $ | 90,622,018 | |||||||
| Preferred Stock | — | 257,302 | * | — | 257,302 | |||||||||||
| Short-Term Investments | — | 2,833,902 | — | 2,833,902 | ||||||||||||
| Total Investments | $ | 88,098,927 | $ | 5,614,295 | $ | — | $ | 93,713,222 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (23,026 | ) | $ | — | $ | (23,026 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Small Cap Value Equity Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 51,622,483 | $ | — | $ | — | $ | 51,622,483 | ||||||||
| Short-Term Investments | 310,200 | 1,516,970 | — | 1,827,170 | ||||||||||||
| Total Investments | $ | 51,932,683 | $ | 1,516,970 | $ | — | $ | 53,449,653 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Small Company Value Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 198,803,648 | $ | 362,308 | * | $ | — | $ | 199,165,956 | |||||||
| Rights | — | 1,228 | * | — | 1,228 | |||||||||||
| Short-Term Investments | 502,448 | 1,960,227 | — | 2,462,675 | ||||||||||||
| Total Investments | $ | 199,306,096 | $ | 2,323,763 | $ | — | $ | 201,629,859 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (3,301 | ) | $ | — | $ | (3,301 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Mid Cap Growth Fund |
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
| Common Stock | $ | 5,192,306,517 | $ | 2,321,887 | $ | — | $ | 5,194,628,404 | |||||
| Preferred Stock | — | — | 13,633,255 | 13,633,255 | |||||||||
| Short-Term Investments | 10,917,446 | 113,443,087 | — | 124,360,533 | |||||||||
| Total Investments | $ | 5,203,223,963 | $ | 115,764,974 | $ | 13,633,255 | $ | 5,332,622,192 | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Small Cap Growth Equity Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 829,085,436 | $ | — | $ | — | $ | 829,085,436 | ||||||||
| Mutual Funds | 6,389,496 | — | — | 6,389,496 | ||||||||||||
| Short-Term Investments | 3,904,167 | 7,324,894 | — | 11,229,061 | ||||||||||||
| Total Investments | $ | 839,379,099 | $ | 7,324,894 | $ | — | $ | 846,703,993 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Overseas Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | |||||||||
| Common Stock* | |||||||||||||
| Australia | $ | — | $ | 5,563,665 | $ | — | $ | 5,563,665 | |||||
| Belgium | 1,675,711 | 4,113,658 | — | 5,789,369 | |||||||||
| Canada | 15,468,076 | — | — | 15,468,076 | |||||||||
| China | 1,316,178 | 10,194,958 | — | 11,511,136 | |||||||||
| Denmark | — | 11,281,476 | — | 11,281,476 | |||||||||
| France | — | 77,067,147 | — | 77,067,147 | |||||||||
| Germany | — | 71,363,396 | — | 71,363,396 | |||||||||
| Hong Kong | — | 12,123,696 | — | 12,123,696 | |||||||||
| India | — | 7,325,693 | — | 7,325,693 | |||||||||
| Indonesia | — | 221,790 | — | 221,790 | |||||||||
| Ireland | 7,723,678 | 1,404,249 | — | 9,127,927 | |||||||||
| Israel | 2,887,884 | — | — | 2,887,884 | |||||||||
| Italy | — | 12,562,608 | — | 12,562,608 | |||||||||
| Japan | — | 52,576,162 | — | 52,576,162 | |||||||||
| Luxembourg | — | 2,551,697 | — | 2,551,697 | |||||||||
| Netherlands | — | 15,003,427 | — | 15,003,427 | |||||||||
| Portugal | — | 2,265,985 | — | 2,265,985 | |||||||||
| Republic of Korea | — | 6,414,668 | — | 6,414,668 | |||||||||
| Singapore | — | 3,693,706 | — | 3,693,706 | |||||||||
| Spain | — | 5,721,610 | — | 5,721,610 | |||||||||
| Sweden | — | 6,588,856 | — | 6,588,856 | |||||||||
| Switzerland | — | 36,101,444 | — | 36,101,444 | |||||||||
| Taiwan | 3,586,128 | — | — | 3,586,128 | |||||||||
| United Kingdom | — | 52,853,529 | — | 52,853,529 | |||||||||
| United States | 4,766,289 | 39,699,078 | — | 44,465,367 | |||||||||
| Preferred Stock* | |||||||||||||
| Republic of Korea | — | 2,902,954 | — | 2,902,954 | |||||||||
| Short-Term Investments | — | 10,268,804 | — | 10,268,804 | |||||||||
| Total Investments | $ | 37,423,944 | $ | 449,864,256 | $ | — | $ | 487,288,200 | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price International Equity Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock* | ||||||||||||||||
| Australia | $ | — | $ | 33,068,424 | $ | — | $ | 33,068,424 | ||||||||
| Austria | — | 8,932,077 | — | 8,932,077 | ||||||||||||
| Belgium | — | 3,654,746 | — | 3,654,746 | ||||||||||||
| Brazil | 6,853,395 | 25,233,551 | — | 32,086,946 | ||||||||||||
| Canada | 65,058,486 | — | — | 65,058,486 | ||||||||||||
| Chile | 2,778,478 | 2,693,968 | — | 5,472,446 | ||||||||||||
| China | 39,383,575 | 98,283,789 | — | 137,667,364 | ||||||||||||
| Denmark | 6,200,482 | 11,077,419 | — | 17,277,901 | ||||||||||||
| Finland | — | 9,761,405 | — | 9,761,405 | ||||||||||||
| France | — | 105,981,857 | — | 105,981,857 | ||||||||||||
| Germany | — | 98,693,640 | — | 98,693,640 | ||||||||||||
| Guatemala | — | 1,477,685 | — | 1,477,685 | ||||||||||||
| Hong Kong | — | 24,565,126 | — | 24,565,126 | ||||||||||||
| Hungary | — | 5,766,749 | — | 5,766,749 | ||||||||||||
| India | 2,263,584 | 68,004,040 | — | 70,267,624 | ||||||||||||
| Indonesia | — | 12,089,055 | — | 12,089,055 | ||||||||||||
| Ireland | 2,718,328 | — | — | 2,718,328 | ||||||||||||
| Italy | 1,398,686 | 27,456,869 | — | 28,855,555 | ||||||||||||
| Japan | — | 215,473,028 | — | 215,473,028 | ||||||||||||
| Luxembourg | — | 2,560,370 | — | 2,560,370 | ||||||||||||
| Macau | — | 4,303,721 | — | 4,303,721 | ||||||||||||
| Malaysia | — | 4,089,234 | — | 4,089,234 | ||||||||||||
| Mexico | 13,165,472 | 1,480,594 | — | 14,646,066 | ||||||||||||
| Netherlands | 3,901,348 | 70,373,876 | — | 74,275,224 | ||||||||||||
| Norway | — | 13,792,460 | — | 13,792,460 | ||||||||||||
| Peru | 695,525 | — | — | 695,525 | ||||||||||||
| Philippines | — | 4,810,646 | — | 4,810,646 | ||||||||||||
| Poland | — | 2,334,574 | — | 2,334,574 | ||||||||||||
| Portugal | — | 10,813,779 | — | 10,813,779 | ||||||||||||
| Republic of Korea | 2,084,195 | 60,847,469 | — | 62,931,664 | ||||||||||||
| Russia | — | — | — | + | — | |||||||||||
| Saudi Arabia | — | 17,196,652 | — | 17,196,652 | ||||||||||||
| Singapore | 1,805,166 | 10,256,547 | — | 12,061,713 | ||||||||||||
| South Africa | — | 12,384,657 | — | 12,384,657 | ||||||||||||
| Spain | — | 11,691,839 | — | 11,691,839 | ||||||||||||
| Sweden | — | 32,218,487 | — | 32,218,487 | ||||||||||||
| Switzerland | — | 53,656,977 | — | 53,656,977 | ||||||||||||
| Taiwan | — | 57,012,278 | — | 57,012,278 | ||||||||||||
| Thailand | 2,261,260 | 4,693,747 | — | 6,955,007 | ||||||||||||
| United Arab Emirates | — | 1,549,106 | — | 1,549,106 | ||||||||||||
| United Kingdom | 22,804,502 | 116,797,364 | — | 139,601,866 | ||||||||||||
| United States | 24,758,317 | 65,886,614 | 408,531 | 91,053,462 | ||||||||||||
| Preferred Stock* | ||||||||||||||||
| Brazil | — | 2,590,972 | — | 2,590,972 | ||||||||||||
| Germany | — | 7,573,633 | — | 7,573,633 | ||||||||||||
| United States | — | — | 24,533 | 24,533 | ||||||||||||
| Warrants | — | — | — | + | — | |||||||||||
| Rights | 3,862 | — | — | + | 3,862 | |||||||||||
| Short-Term Investments | 33,364,470 | 598,890 | — | 33,963,360 | ||||||||||||
| Total Investments | $ | 231,499,131 | $ | 1,321,727,914 | $ | 433,064 | $ | 1,553,660,109 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Written Options | $ | — | $ | (24,783 | ) | $ | — | $ | (24,783 | ) | ||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| Equity Asset Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 299,972,756 | $ | 2,577 | * | $ | — | $ | 299,975,333 | |||||||
| Rights | — | — | — | + | — | |||||||||||
| Short-Term Investments | — | 2,246,162 | — | 2,246,162 | ||||||||||||
| Total Investments | $ | 299,972,756 | $ | 2,248,739 | $ | — | $ | 302,221,495 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Futures Contracts | $ | 38,535 | $ | — | $ | — | $ | 38,535 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MM Select T. Rowe Price Bond Asset Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Bank Loans | $ | — | $ | 6,087,578 | $ | — | $ | 6,087,578 | ||||||||
| Corporate Debt | — | 153,813,701 | — | 153,813,701 | ||||||||||||
| Municipal Obligations | — | 356,247 | — | 356,247 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 38,792,608 | — | 38,792,608 | ||||||||||||
| Sovereign Debt Obligations | — | 103,435,747 | — | 103,435,747 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 124,649,859 | — | 124,649,859 | ||||||||||||
| U.S. Treasury Obligations | — | 154,577,802 | — | 154,577,802 | ||||||||||||
| Purchased Options | — | 23,527 | — | 23,527 | ||||||||||||
| Short-Term Investments | 30,810,918 | 20,360,441 | — | 51,171,359 | ||||||||||||
| Total Investments | $ | 30,810,918 | $ | 602,097,510 | $ | — | $ | 632,908,428 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 1,576,181 | $ | — | $ | 1,576,181 | ||||||||
| Futures Contracts | 1,644,797 | — | — | 1,644,797 | ||||||||||||
| Swap Agreements | — | 3,088,789 | — | 3,088,789 | ||||||||||||
| Total | $ | 1,644,797 | $ | 4,664,970 | $ | — | $ | 6,309,767 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (4,914,109 | ) | $ | — | $ | (4,914,109 | ) | ||||||
| Futures Contracts | (386,666 | ) | — | — | (386,666 | ) | ||||||||||
| Swap Agreements | — | (1,761,851 | ) | — | (1,761,851 | ) | ||||||||||
| Written Options | — | (5,539 | ) | — | (5,539 | ) | ||||||||||
| Total | $ | (386,666 | ) | $ | (6,681,499 | ) | $ | — | $ | (7,068,165 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Emerging Markets Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Corporate Debt | $ | — | $ | 22,429,652 | $ | — | $ | 22,429,652 | ||||||||
| Sovereign Debt Obligations | — | 56,769,914 | — | 56,769,914 | ||||||||||||
| Short-Term Investments | 2,114,160 | 973,908 | — | 3,088,068 | ||||||||||||
| Total Investments | $ | 2,114,160 | $ | 80,173,474 | $ | — | $ | 82,287,634 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 8,986 | $ | — | $ | 8,986 | ||||||||
| Futures Contracts | 310,900 | — | — | 310,900 | ||||||||||||
| Total | $ | 310,900 | $ | 8,986 | $ | — | $ | 319,886 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (158,165 | ) | $ | — | $ | (158,165 | ) | ||||||
| Futures Contracts | (48,367 | ) | — | — | (48,367 | ) | ||||||||||
| Total | $ | (48,367 | ) | $ | (158,165 | ) | $ | — | $ | (206,532 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Large Cap Blend Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 2,288,873,835 | $ | 11,090,167 | $ | 3,286,089 | $ | 2,303,250,091 | ||||||||
| Preferred Stock | — | 7,387,241 | 4,526,214 | 11,913,455 | ||||||||||||
| Short-Term Investments | 23,416,322 | — | — | 23,416,322 | ||||||||||||
| Total Investments | $ | 2,312,290,157 | $ | 18,477,408 | $ | 7,812,303 | $ | 2,338,579,868 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Corporate Debt | $ | — | $ | 517,275 | $ | — | $ | 517,275 | ||||||||
| Municipal Obligations | — | 237,607 | — | 237,607 | ||||||||||||
| Non-U.S. Government Agency Obligations | — | 110,564 | — | 110,564 | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | — | 237,106 | — | 237,106 | ||||||||||||
| U.S. Treasury Obligations | — | 200,708,311 | — | 200,708,311 | ||||||||||||
| Short-Term Investments | 6,580,644 | 1,057,770 | — | 7,638,414 | ||||||||||||
| Total Investments | $ | 6,580,644 | $ | 202,868,633 | $ | — | $ | 209,449,277 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 98,179 | $ | — | $ | 98,179 | ||||||||
| Futures Contracts | 153,931 | — | — | 153,931 | ||||||||||||
| Swap Agreements | — | 282,501 | — | 282,501 | ||||||||||||
| Total | $ | 153,931 | $ | 380,680 | $ | — | $ | 534,611 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (121,302 | ) | $ | — | $ | (121,302 | ) | ||||||
| Futures Contracts | (79,611 | ) | — | — | (79,611 | ) | ||||||||||
| Swap Agreements | — | (14,860 | ) | — | (14,860 | ) | ||||||||||
| Written Options | (333,703 | ) | — | — | (333,703 | ) | ||||||||||
| Total | $ | (413,314 | ) | $ | (136,162 | ) | $ | — | $ | (549,476 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MM Select T. Rowe Price Real Assets Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock* | ||||||||||||||||
| Australia | $ | — | $ | 31,887,487 | $ | — | $ | 31,887,487 | ||||||||
| Austria | — | 1,269,333 | — | 1,269,333 | ||||||||||||
| Bahrain | 303,186 | — | — | 303,186 | ||||||||||||
| Belgium | — | 2,042,054 | — | 2,042,054 | ||||||||||||
| Bosnia and Herzegowina | — | 653,206 | — | 653,206 | ||||||||||||
| Brazil | 8,835,183 | — | — | 8,835,183 | ||||||||||||
| Burkina Faso | 1,594,421 | — | — | 1,594,421 | ||||||||||||
| Canada | 33,364,537 | — | — | 33,364,537 | ||||||||||||
| Chile | 830,012 | 320,360 | — | 1,150,372 | ||||||||||||
| China | — | 962,327 | — | 962,327 | ||||||||||||
| Egypt | — | 384,718 | — | 384,718 | ||||||||||||
| France | — | 5,806,850 | — | 5,806,850 | ||||||||||||
| Germany | — | 1,369,611 | — | 1,369,611 | ||||||||||||
| Ghana | 867,750 | — | — | 867,750 | ||||||||||||
| Hong Kong | — | 2,237,021 | — | 2,237,021 | ||||||||||||
| India | — | 793,789 | — | 793,789 | ||||||||||||
| Japan | — | 10,540,599 | — | 10,540,599 | ||||||||||||
| Kazakhstan | — | 771,744 | — | 771,744 | ||||||||||||
| Luxembourg | — | 1,467,257 | — | 1,467,257 | ||||||||||||
| Mexico | 2,979,604 | — | — | 2,979,604 | ||||||||||||
| Netherlands | — | 3,075,654 | — | 3,075,654 | ||||||||||||
| Norway | 526,747 | 3,111,663 | — | 3,638,410 | ||||||||||||
| Portugal | — | 809,878 | — | 809,878 | ||||||||||||
| Republic of Korea | — | 934,917 | — | 934,917 | ||||||||||||
| Russia | — | — | — | + | — | |||||||||||
| Singapore | — | 1,805,246 | — | 1,805,246 | ||||||||||||
| South Africa | — | 6,447,645 | — | 6,447,645 | ||||||||||||
| Spain | — | 497,880 | — | 497,880 | ||||||||||||
| Sweden | — | 3,003,098 | — | 3,003,098 | ||||||||||||
| United Kingdom | 3,514,822 | 4,853,417 | — | 8,368,239 | ||||||||||||
| United States | 191,007,552 | 1,820,010 | — | 192,827,562 | ||||||||||||
| Vietnam | 2,264,155 | — | — | 2,264,155 | ||||||||||||
| Zambia | 242,080 | — | — | 242,080 | ||||||||||||
| Preferred Stock | ||||||||||||||||
| United States | — | — | 1,684,739 | 1,684,739 | ||||||||||||
| Mutual Funds | 4,580,380 | — | — | 4,580,380 | ||||||||||||
| Purchased Options | — | 14,191 | — | 14,191 | ||||||||||||
| Short-Term Investments | 18,437,288 | 2,644,639 | — | 21,081,927 | ||||||||||||
| Total Investments | $ | 269,347,717 | $ | 89,524,594 | $ | 1,684,739 | $ | 360,557,050 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | 422,850 | $ | — | $ | 422,850 | ||||||||
| Futures Contracts | 910,700 | — | — | 910,700 | ||||||||||||
| Swap Agreements | — | 1,005 | — | 1,005 | ||||||||||||
| Total | $ | 910,700 | $ | 423,855 | $ | — | $ | 1,334,555 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Forward Contracts | $ | — | $ | (143,671 | ) | $ | — | $ | (143,671 | ) | ||||||
| Futures Contracts | (73,123 | ) | — | — | (73,123 | ) | ||||||||||
| Swap Agreements | — | (19,632 | ) | — | (19,632 | ) | ||||||||||
| Total | $ | (73,123 | ) | $ | (163,303 | ) | $ | — | $ | (236,426 | ) | |||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
| MM Select T. Rowe Price Small and Mid Cap Blend Fund | ||||||||||||||||
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 763,843,162 | $ | 8,873,076 | * | $ | 1,113,357 | $ | 773,829,595 | |||||||
| Preferred Stock | — | 985,290 | * | 8,474,836 | 9,460,126 | |||||||||||
| Corporate Debt | — | 97,219 | — | 97,219 | ||||||||||||
| Warrants | 718 | — | 9,675 | 10,393 | ||||||||||||
| Short-Term Investments | 23,116,046 | 1,013,821 | — | 24,129,867 | ||||||||||||
| Total Investments | $ | 786,959,926 | $ | 10,969,406 | $ | 9,597,868 | $ | 807,527,200 | ||||||||
| Notes to Portfolio of Investments (Unaudited) (Continued) |
MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund
| Asset Investments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| U.S. Government Agency Obligations and Instrumentalities | $ | — | $ | 311,332 | $ | — | $ | 311,332 | ||||||||
| U.S. Treasury Obligations | — | 153,443,008 | — | 153,443,008 | ||||||||||||
| Short-Term Investments | 70 | — | — | 70 | ||||||||||||
| Total Investments | $ | 70 | $ | 153,754,340 | $ | — | $ | 153,754,410 | ||||||||
| Asset Derivatives | ||||||||||||||||
| Futures Contracts | $ | 257,153 | $ | — | $ | — | $ | 257,153 | ||||||||
| Liability Derivatives | ||||||||||||||||
| Futures Contracts | $ | (55,616 | ) | $ | — | $ | — | $ | (55,616 | ) | ||||||
| Written Options | (236,594 | ) | — | — | (236,594 | ) | ||||||||||
| Total | $ | (292,210 | ) | $ | — | $ | — | $ | (292,210 | ) | ||||||
| * | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments after the close of trading in their respective foreign markets, as applicable. |
| + | Represents a security at $0 value as of December 31, 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 MM Target Allocation Funds, MM RetireSMART by JPMorgan Funds, and MM Select T. Rowe Price Retirement Funds may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds’ securities lending activities are governed by a Securities Lending Agency Agreement ("Lending Agreement") between each Fund and the lending agent ("Agent"). The Lending Agreement authorizes the Agent to lend portfolio securities held by a Fund to approved borrowers (each, a "Borrower").
Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash (U.S. currency) and/or securities (U.S. Treasury and Agency obligations) adjusted daily to have value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the Borrower of the securities fail financially. Pursuant to the Lending Agreement, the Agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At December 31, 2023, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan and all of the Funds’ cash collateral was invested in the State Street Navigator Securities Lending Government Money Market Portfolio.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower ("Borrowing Agreement"), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.
Accounting for Investment Transactions
Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.
Foreign Currency Translation
The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.
Foreign Securities
The MM Select T. Rowe Price Real Assets Fund invests a significant amount of its assets in foreign securities and each of the Overseas Fund, MM Select T. Rowe Price International Equity Fund, and MM Select T. Rowe Price Emerging Markets Bond Fund invests substantially all of its assets in foreign securities. The other Funds and certain Underlying Funds may also invest in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, public health, and diplomatic risks. In addition, fluctuations in currency exchange rates may favorably or unfavorably affect the values of foreign securities and the price of a Fund’s shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, less stringent investor protection and disclosure standards, less reliable settlement practices, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater volatility in currency exchange rates, and are more susceptible to environmental problems.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Federal Income Tax
It is each Fund’s intent to continue to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to 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 December 31, 2023, the aggregate cost of investments and the unrealized appreciation (depreciation) in the value of all investments owned by the Fund(s), as computed on a federal income tax basis, were as follows:
| Notes to Portfolio of Investments (Unaudited) (Continued) |
Federal Income Tax Cost | Tax Basis Unrealized Appreciation | Tax Basis Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | |||||||||||||
| Total Return Bond Fund | $ | 1,066,134,721 | $ | 20,095,473 | $ | (27,449,026 | ) | $ | (7,353,553 | ) | ||||||
| Strategic Bond Fund | 419,563,250 | 4,456,950 | (20,123,277 | ) | (15,666,327 | ) | ||||||||||
| Diversified Value Fund | 243,163,729 | 59,923,442 | (3,506,479 | ) | 56,416,963 | |||||||||||
| Fundamental Value Fund | 353,288,919 | 92,819,457 | (6,684,405 | ) | 86,135,052 | |||||||||||
| S&P 500 Index Fund | 1,381,239,581 | 1,337,187,838 | (57,116,172 | ) | 1,280,071,666 | |||||||||||
| Equity Opportunities Fund | 520,694,479 | 129,955,971 | (7,948,701 | ) | 122,007,270 | |||||||||||
| Fundamental Growth Fund | 22,912,614 | 4,746,337 | (531,229 | ) | 4,215,108 | |||||||||||
| Blue Chip Growth Fund | 1,433,607,918 | 984,770,942 | (69,213,436 | ) | 915,557,506 | |||||||||||
| Growth Opportunities Fund | 117,914,009 | 36,790,657 | (5,599,387 | ) | 31,191,270 | |||||||||||
| Mid Cap Value Fund | 88,836,885 | 8,694,329 | (3,817,992 | ) | 4,876,337 | |||||||||||
| Small Cap Value Equity Fund | 47,044,201 | 9,065,095 | (2,659,643 | ) | 6,405,452 | |||||||||||
| Small Company Value Fund | 196,485,224 | 21,052,984 | (15,908,349 | ) | 5,144,635 | |||||||||||
| Mid Cap Growth Fund | 4,158,165,686 | 1,308,479,332 | (134,022,826 | ) | 1,174,456,506 | |||||||||||
| Small Cap Growth Equity Fund | 727,804,959 | 151,112,654 | (32,213,620 | ) | 118,899,034 | |||||||||||
| Overseas Fund | 406,810,830 | 97,609,577 | (17,132,207 | ) | 80,477,370 | |||||||||||
| MM Select T. Rowe Price International Equity Fund | 1,375,279,326 | 263,009,229 | (84,628,446 | ) | 178,380,783 | |||||||||||
| 20/80 Allocation Fund | 191,066,450 | 932,507 | (15,970,484 | ) | (15,037,977 | ) | ||||||||||
| 40/60 Allocation Fund | 194,286,083 | 1,881,739 | (17,508,323 | ) | (15,626,584 | ) | ||||||||||
| 60/40 Allocation Fund | 174,641,099 | 2,512,732 | (11,589,060 | ) | (9,076,328 | ) | ||||||||||
| 80/20 Allocation Fund | 129,953,701 | 2,623,293 | (6,179,953 | ) | (3,556,660 | ) | ||||||||||
| MM RetireSMART by JPMorgan In Retirement Fund | 79,363,464 | 896,731 | (4,405,835 | ) | (3,509,104 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2020 Fund | 124,303,246 | 1,444,548 | (4,822,346 | ) | (3,377,798 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2025 Fund | 147,573,091 | 1,551,937 | (8,035,738 | ) | (6,483,801 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2030 Fund | 279,128,912 | 4,793,255 | (10,315,289 | ) | (5,522,034 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2035 Fund | 167,972,074 | 2,093,150 | (8,079,101 | ) | (5,985,951 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2040 Fund | 203,531,034 | 5,167,123 | (5,422,399 | ) | (255,276 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2045 Fund | 126,310,821 | 2,007,362 | (4,756,031 | ) | (2,748,669 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2050 Fund | 147,158,168 | 4,069,184 | (1,359,907 | ) | 2,709,277 | |||||||||||
| MM RetireSMART by JPMorgan 2055 Fund | 69,781,748 | 1,227,712 | (2,007,410 | ) | (779,698 | ) | ||||||||||
| MM RetireSMART by JPMorgan 2060 Fund | 24,518,248 | 681,684 | (411,704 | ) | 269,980 | |||||||||||
| MM RetireSMART by JPMorgan 2065 Fund | 924,104 | 28,345 | (4,312 | ) | 24,033 | |||||||||||
| Equity Asset Fund | 228,524,644 | 77,535,039 | (3,838,188 | ) | 73,696,851 | |||||||||||
| MM Select T. Rowe Price Bond Asset Fund | 649,543,461 | 9,738,450 | (26,373,483 | ) | (16,635,033 | ) | ||||||||||
| MM Select T. Rowe Price Emerging Markets Bond Fund | 90,440,399 | 1,675,333 | (9,828,098 | ) | (8,152,765 | ) | ||||||||||
| MM Select T. Rowe Price Large Cap Blend Fund | 1,976,304,094 | 383,908,295 | (21,632,521 | ) | 362,275,774 | |||||||||||
| MM Select T. Rowe Price Limited Duration Inflation Focused Bond Fund | 212,518,793 | 313,786 | (3,383,302 | ) | (3,069,516 | ) | ||||||||||
| MM Select T. Rowe Price Real Assets Fund | 348,341,631 | 25,560,050 | (13,344,631 | ) | 12,215,419 | |||||||||||
| MM Select T. Rowe Price Small and Mid Cap Blend Fund | 682,944,719 | 161,498,285 | (36,915,804 | ) | 124,582,481 | |||||||||||
| MM Select T. Rowe Price U.S. Treasury Long-Term Index Fund | 186,374,221 | 936,381 | (33,556,192 | ) | (32,619,811 | ) | ||||||||||
| MM Select T. Rowe Price Retirement Balanced Fund | 219,003,305 | 1,717,340 | (16,207,120 | ) | (14,489,780 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2005 Fund | 18,231,465 | 389,562 | (971,123 | ) | (581,561 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2010 Fund | 107,293,646 | 1,143,016 | (7,724,551 | ) | (6,581,535 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2015 Fund | 118,145,490 | 1,074,743 | (8,098,229 | ) | (7,023,486 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2020 Fund | 525,185,183 | 6,931,515 | (36,812,432 | ) | (29,880,917 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2025 Fund | 560,065,387 | 4,594,445 | (36,972,081 | ) | (32,377,636 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2030 Fund | 1,394,277,368 | 26,534,167 | (61,261,504 | ) | (34,727,337 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2035 Fund | 775,742,259 | 8,103,194 | (24,048,339 | ) | (15,945,145 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2040 Fund | 1,307,258,216 | 40,341,891 | (31,519,602 | ) | 8,822,289 | |||||||||||
| MM Select T. Rowe Price Retirement 2045 Fund | 640,260,924 | 8,908,969 | (12,016,308 | ) | (3,107,339 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2050 Fund | 943,936,684 | 24,912,655 | (14,337,624 | ) | 10,575,031 | |||||||||||
| MM Select T. Rowe Price Retirement 2055 Fund | 433,428,953 | 5,423,485 | (6,724,312 | ) | (1,300,827 | ) | ||||||||||
| MM Select T. Rowe Price Retirement 2060 Fund | 254,549,430 | 2,380,418 | (2,327,945 | ) | 52,473 | |||||||||||
| MM Select T. Rowe Price Retirement 2065 Fund | 1,940,538 | 96,217 | (173 | ) | 96,044 | |||||||||||
| 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 and is not expected to have a material impact on the financial statements.
| Notes to Portfolio of Investments (Unaudited) (Continued) |
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.
5. Russia-Ukraine War
In February 2022, Russia commenced a large-scale military attack on Ukraine. The outbreak of hostilities between the two countries could result in more widespread conflict and could have a severe adverse effect on the regional and the global financial markets and economies. One or more of the Funds or Underlying Funds hold positions in securities or other instruments that are economically tied to Russia. Investments in Russia are subject to political, economic, legal, market, and currency risks, as well as the risks related to the economic sanctions on Russia, Russian individuals, and Russian corporate and banking entities imposed by the United States, other countries, and certain international organizations. Such sanctions — which affect companies in many sectors, including energy, financial services, and defense, among others — could adversely affect the global energy and financial markets and, thus, could affect the value of a Fund’s or an Underlying Fund's investments, even beyond any direct exposure the Fund or the Underlying Fund may have to Russian issuers or the adjoining geographic regions. These sanctions and any other intergovernmental actions (including retaliatory actions by the Russian government) may also result in a decline in the value and liquidity of Russian securities and a weakening of the ruble, and will impair a Fund's or an Underlying Fund's ability to buy, sell, receive, or deliver Russian securities. In addition, certain transactions have been or may be prohibited and/or existing investments have or may become illiquid (e.g., because transacting in certain existing investments is prohibited), which could cause a Fund or an Underlying Fund to sell other portfolio holdings at a disadvantageous time or price in order to meet shareholder redemptions.
6. Subsequent Events
Management has evaluated the events and transactions subsequent to December 31, 2023, through the date when the Portfolios of Investments were issued, and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Funds’ Portfolios of Investments other than those disclosed below:
Effective January 1, 2024, certain of the Funds have changed their distribution frequency and therefore dividends from net investment income are either declared daily and paid monthly or declared and paid annually depending on the requirements of each Fund. Dividends from net investment income may also be distributed at other times throughout the year as required to satisfy tax or regulatory requirements. Distributions of any net realized capital gains of each Fund are declared and paid annually and at other times as may be required to satisfy tax or regulatory requirements.