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MML Series Investment Fund II – ‘N-Q’ for 3/31/17

On:  Thursday, 5/25/17, at 1:29pm ET   ·   Effective:  5/25/17   ·   For:  3/31/17   ·   Accession #:  1193125-17-183335   ·   File #:  811-21714

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 5/25/17  MML Series Investment Fund II     N-Q         3/31/17    2:4.3M                                   Donnelley...Solutions/FAMML Asset Momentum Fund Class IIService Class IMML Blend Fund Initial ClassService ClassMML Dynamic Bond Fund Class IIService Class IMML Equity Fund Initial ClassService ClassMML Equity Rotation Fund Class IIService Class IMML High Yield Fund Class IIService Class IMML Inflation-Protected and Income Fund Initial ClassService ClassMML Managed Bond Fund Initial ClassService ClassMML Short-Duration Bond Fund Class IIService Class IMML Small Cap Equity Fund Initial ClassService ClassMML Special Situations Fund Class IIService Class IMML Strategic Emerging Markets Fund Class IIService Class IMML U.S. Government Money Market Fund Initial Class

Quarterly Schedule of Portfolio Holdings of a Management Investment Company   —   Form N-Q
Filing Table of Contents

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 1: N-Q         Mml Series Investment Fund Ii                       HTML   2.59M 
 2: EX-99.CERT  Certification Pursuant to Section 302               HTML     13K 


N-Q   —   Mml Series Investment Fund Ii


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  MML Series Investment Fund II  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

 

  Investment Company Act file number    811-21714                                                                                                                                         

 

  MML Series Investment Fund II

                                       (Exact name of registrant as specified in charter)

  100 Bright Meadow Blvd., Enfield, CT                                06082
                    (Address of principal executive offices)                                                                  (Zip code)
  Brian Haendiges   
  100 Bright Meadow Blvd., Enfield, CT                                06082
(Name and address of agent for service)

 

  Registrant’s telephone number, including area code:        (860) 562-1000   

 

  Date of fiscal year end:     12/31/2017   

 

  Date of reporting period:       3/31/2017   


Item 1. Schedule of Investments.


MML Asset Momentum Fund – Portfolio of Investments

 

March 31, 2017 (Unaudited)

 

     Number of
Shares
     Value  
EQUITIES — 38.4%  
COMMON STOCK — 38.4%  
Basic Materials — 0.8%      
Chemicals — 0.8%      

Air Products & Chemicals, Inc.

     1,400      $ 189,407  
     

 

 

 
Communications — 1.4%      
Telecommunications — 1.4%      

Drillisch AG

     3,800        193,095  

NTT DOCOMO, Inc.

     5,600        130,512  
     

 

 

 
        323,607  
     

 

 

 
Consumer, Cyclical — 12.1%  
Distribution & Wholesale — 2.5%  

Pool Corp.

     5,100        608,583  
     

 

 

 
Home Builders — 5.3%  

NVR, Inc. (a)

     600        1,264,128  
     

 

 

 
Retail — 3.5%  

Fielmann AG

     1,400        108,208  

The TJX Cos., Inc.

     9,200        727,536  
     

 

 

 
        835,744  
     

 

 

 
Textiles — 0.8%  

Mohawk Industries, Inc. (a)

     800        183,592  
     

 

 

 
        2,892,047  
     

 

 

 
Consumer, Non-cyclical — 7.5%  
Agriculture — 0.8%  

Reynolds American, Inc.

     3,000        189,060  
     

 

 

 
Biotechnology — 1.1%  

CSL Ltd.

     2,800        267,366  
     

 

 

 
Foods — 1.1%  

Nestle SA

     1,300        99,727  

Saputo, Inc.

     4,500        155,284  
     

 

 

 
        255,011  
     

 

 

 
Health Care – Products — 0.7%  

Advanced Medical Solutions Group PLC

     54,300        164,643  
     

 

 

 
Health Care – Services — 2.6%  

Fresenius SE & Co. KGaA

     5,900        473,886  

Ramsay Health Care Ltd.

     3,000        160,122  
     

 

 

 
        634,008  
     

 

 

 
Household Products — 1.2%  

Henkel AG & Co. KGaA

     2,000        222,214  

Portmeirion Group PLC

     5,600        66,136  
     

 

 

 
        288,350  
     

 

 

 
        1,798,438  
     

 

 

 
Financial — 2.3%  
Diversified Financial Services — 1.8%  

Mastercard, Inc. Class A

     3,800        427,386  
     

 

 

 
     Number of
Shares
     Value  
Private Equity — 0.5%  

Onex Corp.

     1,700      $ 122,017  
     

 

 

 
        549,403  
     

 

 

 
Industrial — 11.5%  
Aerospace & Defense — 3.6%  

General Dynamics Corp.

     1,200        224,640  

Lockheed Martin Corp.

     800        214,080  

Northrop Grumman Corp.

     900        214,056  

Raytheon Co.

     1,400        213,500  
     

 

 

 
        866,276  
     

 

 

 
Building Materials — 2.0%  

Breedon Group PLC (a)

     88,100        84,109  

Martin Marietta Materials, Inc.

     900        196,425  

Vulcan Materials Co.

     1,600        192,768  
     

 

 

 
        473,302  
     

 

 

 
Electronics — 1.0%  

Halma PLC

     17,600        225,807  
     

 

 

 
Hand & Machine Tools — 1.4%  

Schindler Holding AG

     700        135,230  

Snap-on, Inc.

     1,200        202,404  
     

 

 

 
        337,634  
     

 

 

 
Machinery – Diversified — 1.7%  

Cummins, Inc.

     1,500        226,800  

Wabtec Corp.

     2,400        187,200  
     

 

 

 
        414,000  
     

 

 

 
Miscellaneous – Manufacturing — 1.8%  

A.O. Smith Corp.

     4,200        214,872  

Illinois Tool Works, Inc.

     1,700        225,199  
     

 

 

 
        440,071  
     

 

 

 
        2,757,090  
     

 

 

 
Technology — 2.8%  
Computers — 1.3%  

Amdocs Ltd.

     5,200        317,148  
     

 

 

 
Software — 1.5%  

EMIS Group PLC

     11,800        131,306  

Nexus AG

     3,400        73,294  

Open Text Corp.

     4,200        142,753  
     

 

 

 
        347,353  
     

 

 

 
        664,501  
     

 

 

 
TOTAL COMMON STOCK
(Cost $8,433,583)
        9,174,493  
     

 

 

 
TOTAL EQUITIES
(Cost $8,433,583)
        9,174,493  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

1


MML Asset Momentum Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
BONDS & NOTES — 16.7%  
CORPORATE DEBT — 12.5%  
Diversified Financial Services — 12.5%  

Federal Home Loan Mortgage Corp.
1.000% 7/28/17

   $ 3,000,000      $ 3,001,065  
     

 

 

 
TOTAL CORPORATE DEBT
(Cost $3,010,500)
        3,001,065  
     

 

 

 
U.S. TREASURY OBLIGATIONS — 4.2%  
U.S. Treasury Bonds & Notes — 4.2%  

U.S. Treasury Note (b)
0.750% 4/30/18

     1,000,000        996,133  
     

 

 

 
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $998,125)
        996,133  
     

 

 

 
TOTAL BONDS & NOTES
(Cost $4,008,625)
        3,997,198  
     

 

 

 
     Number
of Shares
        
MUTUAL FUNDS — 32.2%  
Diversified Financial Services — 32.2%  

iShares MSCI Canada ETF

     24,100        647,808  

iShares MSCI India ETF

     6,600        207,801  

VanEck Vectors Russia ETF

     52,400        1,083,108  

Vanguard Total Stock Market ETF

     47,500        5,762,700  
     

 

 

 
        7,701,417  
     

 

 

 
TOTAL MUTUAL FUNDS
(Cost $7,167,780)
        7,701,417  
     

 

 

 
TOTAL LONG-TERM INVESTMENTS
(Cost $19,609,988)
        20,873,108  
     

 

 

 
     Principal
Amount
     Value  
SHORT-TERM INVESTMENTS — 11.4%  
Repurchase Agreement — 11.4%      

State Street Bank & Trust Co. Repurchase Agreement, dated
3/31/17, 0.050%, due 4/03/17 (c)

   $ 2,735,887      $ 2,735,887  
     

 

 

 
TOTAL SHORT-TERM INVESTMENTS
(Cost $2,735,887)
        2,735,887  
     

 

 

 
TOTAL INVESTMENTS — 98.7%
(Cost $22,345,875) (d)
        23,608,995  
Other Assets/(Liabilities) — 1.3%         313,144  
     

 

 

 
NET ASSETS — 100.0%       $ 23,922,139  
     

 

 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ETF Exchange-Traded Fund
(a) Non-income producing security.
(b) A portion of this security is pledged/held as collateral for open futures contracts. (Note 2).
(c) Maturity value of $2,735,898. Collateralized by U.S. Government Agency obligations with a rate of 1.000%, maturity date of 5/15/18, and an aggregate market value, including accrued interest, of $2,791,559.
(d) See Note 3 for aggregate cost for federal tax purposes.
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

2


MML Blend Fund – Portfolio of Investments

 

March 31, 2017 (Unaudited)

 

     Number of
Shares
     Value  
EQUITIES — 72.2%  
COMMON STOCK — 72.1%  
Basic Materials — 1.8%  
Chemicals — 1.5%  

Air Products & Chemicals, Inc.

     5      $ 676  

CF Industries Holdings, Inc.

     27,190        798,027  

The Dow Chemical Co.

     30,573        1,942,608  

E.I. du Pont de Nemours & Co.

     15,560        1,249,935  

Eastman Chemical Co.

     25,770        2,082,216  

FMC Corp.

     27,400        1,906,766  

LyondellBasell Industries NV Class A

     8,600        784,234  

Monsanto Co.

     6,694        757,761  

The Mosaic Co.

     5,900        172,162  

PPG Industries, Inc.

     18        1,891  

Praxair, Inc.

     6        712  

The Sherwin-Williams Co.

     3        931  
     

 

 

 
        9,697,919  
     

 

 

 
Forest Products & Paper — 0.0%  

International Paper Co.

     3,587        182,148  
     

 

 

 
Iron & Steel — 0.2%  

Nucor Corp.

     14,956        893,172  
     

 

 

 
Mining — 0.1%  

Freeport-McMoRan, Inc. (a)

     64        855  

Newmont Mining Corp.

     23,670        780,163  
     

 

 

 
        781,018  
     

 

 

 
        11,554,257  
     

 

 

 
Communications — 8.0%  
Advertising — 0.1%  

The Interpublic Group of Cos., Inc.

     6,922        170,074  

Omnicom Group, Inc.

     3,747        323,029  
     

 

 

 
        493,103  
     

 

 

 
Internet — 3.0%  

Alphabet, Inc. Class A (a)

     6,710        5,688,738  

Alphabet, Inc. Class C (a)

     731        606,408  

Amazon.com, Inc. (a)

     3,830        3,395,448  

eBay, Inc. (a)

     49,277        1,654,229  

Expedia, Inc.

     5,157        650,659  

F5 Networks, Inc. (a)

     12,990        1,851,984  

Facebook, Inc. Class A (a)

     21,460        3,048,393  

Netflix, Inc. (a)

     233        34,440  

The Priceline Group, Inc. (a)

     1        1,780  

Symantec Corp.

     68,555        2,103,267  

TripAdvisor, Inc. (a)

     37        1,597  

VeriSign, Inc. (a)

     1,291        112,459  

Yahoo!, Inc. (a)

     15,529        720,701  
     

 

 

 
        19,870,103  
     

 

 

 
Media — 2.3%  

CBS Corp. Class B

     11,457        794,658  
     Number of
Shares
     Value  

Charter Communications, Inc. Class A (a)

     2,321      $ 759,710  

Comcast Corp. Class A

     50,424        1,895,438  

Discovery Communications, Inc. Class A (a)

     61,800        1,797,762  

Discovery Communications, Inc. Class C (a)

     6,900        195,339  

News Corp. Class A

     6,866        89,258  

Scripps Networks Interactive Class A

     25,372        1,988,404  

TEGNA, Inc.

     48,712        1,248,001  

Time Warner, Inc.

     27,015        2,639,636  

Twenty-First Century Fox, Inc. Class A

     19,567        633,775  

Twenty-First Century Fox, Inc. Class B

     42,500        1,350,650  

Viacom, Inc. Class B

     26,310        1,226,572  

The Walt Disney Co.

     2,582        292,773  
     

 

 

 
        14,911,976  
     

 

 

 
Telecommunications — 2.6%  

AT&T, Inc.

     70,453        2,927,322  

CenturyLink, Inc.

     61,128        1,440,787  

Cisco Systems, Inc.

     147,542        4,986,920  

Frontier Communications Corp.

     295,756        632,918  

Juniper Networks, Inc.

     1,389        38,656  

LogMeIn, Inc.

     1,319        128,602  

Motorola Solutions, Inc.

     26,237        2,262,154  

Verizon Communications, Inc.

     101,755        4,960,556  
     

 

 

 
        17,377,915  
     

 

 

 
        52,653,097  
     

 

 

 
Consumer, Cyclical — 8.3%  
Airlines — 1.1%  

Alaska Air Group, Inc.

     27,300        2,517,606  

American Airlines Group, Inc.

     28,200        1,192,860  

Delta Air Lines, Inc.

     23,200        1,066,272  

Southwest Airlines Co.

     10,383        558,190  

United Continental Holdings, Inc. (a)

     32,000        2,260,480  
     

 

 

 
        7,595,408  
     

 

 

 
Apparel — 0.5%      

Michael Kors Holdings Ltd. (a)

     29,700        1,131,867  

NIKE, Inc. Class B

     9,084        506,251  

Ralph Lauren Corp.

     18,450        1,505,889  
     

 

 

 
        3,144,007  
     

 

 

 
Auto Manufacturers — 0.5%      

Ford Motor Co.

     128,513        1,495,891  

General Motors Co.

     53,200        1,881,152  

PACCAR, Inc.

     5,322        357,639  
     

 

 

 
        3,734,682  
     

 

 

 
Auto Parts & Equipment — 0.5%  

BorgWarner, Inc.

     22,100        923,559  

Delphi Automotive PLC

     9,300        748,557  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

3


MML Blend Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  

The Goodyear Tire & Rubber Co.

     42,151      $ 1,517,436  
     

 

 

 
        3,189,552  
     

 

 

 
Distribution & Wholesale — 0.0%  

Fastenal Co.

     82        4,223  

W.W. Grainger, Inc.

     2        465  
     

 

 

 
        4,688  
     

 

 

 
Home Builders — 0.0%  

D.R. Horton, Inc.

     1,947        64,855  

PulteGroup, Inc.

     73        1,719  
     

 

 

 
        66,574  
     

 

 

 
Home Furnishing — 0.1%  

Leggett & Platt, Inc.

     1,686        84,840  

Whirlpool Corp.

     1,573        269,502  
     

 

 

 
        354,342  
     

 

 

 
Leisure Time — 0.1%  

Harley-Davidson, Inc.

     8,702        526,471  

Royal Caribbean Cruises Ltd.

     100        9,811  
     

 

 

 
        536,282  
     

 

 

 
Lodging — 0.6%  

Marriott International, Inc. Class A

     7,321        689,492  

Wyndham Worldwide Corp.

     13,209        1,113,386  

Wynn Resorts Ltd.

     19,908        2,281,656  
     

 

 

 
        4,084,534  
     

 

 

 
Retail — 4.8%  

AutoNation, Inc. (a)

     10,799        456,690  

AutoZone, Inc. (a)

     494        357,187  

Bed Bath & Beyond, Inc.

     18,164        716,751  

Best Buy Co., Inc.

     41,392        2,034,417  

Coach, Inc.

     6,220        257,073  

Costco Wholesale Corp.

     1,460        244,827  

CVS Health Corp.

     28,994        2,276,029  

Darden Restaurants, Inc.

     9,854        824,484  

Dollar General Corp.

     3,200        223,136  

Dollar Tree, Inc. (a)

     48        3,766  

The Gap, Inc.

     70,590        1,714,631  

Genuine Parts Co.

     2,834        261,890  

The Home Depot, Inc.

     10,327        1,516,313  

Kohl’s Corp.

     29,230        1,163,646  

L Brands, Inc.

     2,200        103,620  

Lowe’s Cos., Inc.

     14,295        1,175,192  

Macy’s, Inc.

     24,751        733,620  

McDonald’s Corp.

     25,900        3,356,899  

Nordstrom, Inc.

     24,308        1,132,024  

O’Reilly Automotive, Inc. (a)

     3,343        902,075  

PVH Corp.

     16,520        1,709,324  

Ross Stores, Inc.

     14,044        925,078  

Staples, Inc.

     184,065        1,614,250  

Starbucks Corp.

     8,654        505,307  

Target Corp.

     15,086        832,596  

Tiffany & Co.

     802        76,431  
     Number of
Shares
     Value  

The TJX Cos., Inc.

     14,106      $ 1,115,502  

Urban Outfitters, Inc. (a)

     22,700        539,352  

Wal-Mart Stores, Inc.

     34,922        2,517,178  

Walgreens Boots Alliance, Inc.

     16,557        1,375,059  

Yum! Brands, Inc.

     14,435        922,397  
     

 

 

 
        31,586,744  
     

 

 

 
Toys, Games & Hobbies — 0.1%  

Hasbro, Inc.

     3,861        385,405  

Mattel, Inc.

     2,090        53,525  
     

 

 

 
        438,930  
     

 

 

 
        54,735,743  
     

 

 

 
Consumer, Non-cyclical — 14.3%  
Agriculture — 0.8%  

Altria Group, Inc.

     18,259        1,304,058  

Archer-Daniels-Midland Co.

     48,892        2,250,988  

Philip Morris International, Inc.

     13,276        1,498,860  

Reynolds American, Inc.

     3,576        225,359  
     

 

 

 
        5,279,265  
     

 

 

 
Beverages — 1.1%  

Brown-Forman Corp. Class B

     12        554  

The Coca-Cola Co.

     85,830        3,642,625  

Coca-Cola European Partners PLC

     10,178        383,609  

Constellation Brands, Inc. Class A

     262        42,462  

Dr. Pepper Snapple Group, Inc.

     4,404        431,240  

PepsiCo, Inc.

     23,400        2,617,524  
     

 

 

 
        7,118,014  
     

 

 

 
Biotechnology — 1.6%  

Amgen, Inc.

     24,721        4,055,975  

Biogen, Inc. (a)

     3,662        1,001,264  

Bioverativ, Inc. (a)

     1,831        99,716  

Celgene Corp. (a)

     11,216        1,395,607  

Gilead Sciences, Inc.

     54,610        3,709,111  
     

 

 

 
        10,261,673  
     

 

 

 
Commercial Services — 1.1%  

Automatic Data Processing, Inc.

     4,809        492,393  

Cintas Corp.

     1,878        237,642  

Ecolab, Inc.

     2        251  

Equifax, Inc.

     6,042        826,183  

Global Payments, Inc.

     2,300        185,564  

H&R Block, Inc.

     26,763        622,240  

Moody’s Corp.

     3,330        373,093  

Nielsen Holdings PLC

     10,600        437,886  

PayPal Holdings, Inc. (a)

     77        3,313  

Quanta Services, Inc. (a)

     13,913        516,311  

Robert Half International, Inc.

     26        1,270  

S&P Global, Inc.

     48        6,275  

Total System Services, Inc.

     2,707        144,716  

United Rentals, Inc. (a)

     13,880        1,735,694  

The Western Union Co.

     85,588        1,741,716  
     

 

 

 
        7,324,547  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

4


MML Blend Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  
Cosmetics & Personal Care — 0.8%  

Colgate-Palmolive Co.

     17,906      $ 1,310,540  

The Estee Lauder Cos., Inc. Class A

     7,910        670,689  

The Procter & Gamble Co.

     38,329        3,443,861  
     

 

 

 
        5,425,090  
     

 

 

 
Foods — 1.4%  

Campbell Soup Co.

     14,924        854,250  

Conagra Brands, Inc.

     28,474        1,148,641  

General Mills, Inc.

     12,462        735,383  

The Hershey Co.

     1,647        179,935  

Hormel Foods Corp.

     15,732        544,799  

The J.M. Smucker Co.

     6,735        882,824  

Kellogg Co.

     8,428        611,957  

The Kraft Heinz Co.

     4,958        450,236  

The Kroger Co.

     6,058        178,650  

McCormick & Co., Inc.

     161        15,705  

Mondelez International, Inc. Class A

     31,775        1,368,867  

Sysco Corp.

     21,534        1,118,045  

Tyson Foods, Inc. Class A

     4,301        265,415  

Whole Foods Market, Inc.

     17,250        512,670  
     

 

 

 
        8,867,377  
     

 

 

 
Health Care – Products — 1.6%  

Abbott Laboratories

     29,601        1,314,580  

Baxter International, Inc.

     47,461        2,461,327  

Becton, Dickinson & Co.

     1,470        269,657  

Boston Scientific Corp. (a)

     30,900        768,483  

C.R. Bard, Inc.

     202        50,205  

Danaher Corp.

     11,756        1,005,491  

DENTSPLY SIRONA, Inc.

     10,656        665,361  

Edwards Lifesciences Corp. (a)

     980        92,189  

Hologic, Inc. (a)

     7,400        314,870  

Intuitive Surgical, Inc. (a)

     96        73,581  

Medtronic PLC

     23,600        1,901,216  

Patterson Cos., Inc.

     86        3,890  

Stryker Corp.

     4,680        616,122  

Thermo Fisher Scientific, Inc.

     3,971        609,945  

Varex Imaging Corp. (a)

     838        28,157  

Varian Medical Systems, Inc. (a)

     2,097        191,100  

Zimmer Biomet Holdings, Inc.

     2,455        299,780  
     

 

 

 
        10,665,954  
     

 

 

 
Health Care – Services — 1.7%  

Aetna, Inc.

     6,227        794,254  

Anthem, Inc.

     5,796        958,542  

Centene Corp. (a)

     700        49,882  

Cigna Corp.

     712        104,301  

DaVita, Inc. (a)

     13,930        946,822  

Envision Healthcare Corp. (a)

     9,600        588,672  

HCA Holdings, Inc. (a)

     29,600        2,634,104  

Humana, Inc.

     1,084        223,456  

Laboratory Corp. of America Holdings (a)

     2        287  
     Number of
Shares
     Value  

Quest Diagnostics, Inc.

     3,309      $ 324,911  

UnitedHealth Group, Inc.

     22,424        3,677,760  

Universal Health Services, Inc. Class B

     6,440        801,458  
     

 

 

 
        11,104,449  
     

 

 

 
Household Products & Wares — 0.1%  

Avery Dennison Corp.

     1,915        154,349  

The Clorox Co.

     5,043        679,948  

Kimberly-Clark Corp.

     665        87,534  
     

 

 

 
        921,831  
     

 

 

 
Pharmaceuticals — 4.1%  

AbbVie, Inc.

     47,922        3,122,597  

Allergan PLC

     7,890        1,885,079  

AmerisourceBergen Corp.

     3,907        345,769  

Bristol-Myers Squibb Co.

     11,567        629,013  

Cardinal Health, Inc.

     6,678        544,591  

Eli Lilly & Co.

     3,614        303,974  

Endo International PLC (a)

     83,100        927,396  

Express Scripts Holding Co. (a)

     28,501        1,878,501  

Johnson & Johnson

     69,112        8,607,900  

Mallinckrodt PLC (a)

     27,700        1,234,589  

McKesson Corp.

     7,525        1,115,656  

Mead Johnson Nutrition Co.

     7,212        642,445  

Merck & Co., Inc.

     51,583        3,277,584  

Mylan NV (a)

     10,147        395,632  

Pfizer, Inc.

     62,241        2,129,265  
     

 

 

 
        27,039,991  
     

 

 

 
        94,008,191  
     

 

 

 
Diversified — 0.0%  
Holding Company – Diversified — 0.0%  

Leucadia National Corp.

     37        962  
     

 

 

 
Energy — 3.9%  
Energy – Alternate Sources — 0.2%  

First Solar, Inc. (a)

     52,700        1,428,170  
     

 

 

 
Oil & Gas — 3.1%  

Anadarko Petroleum Corp.

     48        2,976  

Apache Corp.

     3,821        196,361  

Cabot Oil & Gas Corp.

     48        1,148  

Chesapeake Energy Corp. (a)

     90        535  

Chevron Corp.

     40,508        4,349,344  

ConocoPhillips

     12,739        635,294  

Devon Energy Corp.

     447        18,649  

EOG Resources, Inc.

     8        780  

EQT Corp.

     97        5,927  

Exxon Mobil Corp.

     73,797        6,052,092  

Helmerich & Payne, Inc.

     60        3,994  

Hess Corp.

     9,032        435,433  

Marathon Oil Corp.

     9,427        148,947  

Marathon Petroleum Corp.

     22,806        1,152,615  

Murphy Oil Corp.

     11        314  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

5


MML Blend Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  

Newfield Exploration Co. (a)

     14,500      $ 535,195  

Noble Energy, Inc.

     56        1,923  

Occidental Petroleum Corp.

     15        950  

Phillips 66

     11,669        924,418  

Pioneer Natural Resources Co.

     3,021        562,601  

Range Resources Corp.

     99        2,881  

Southwestern Energy Co. (a)

     6,000        49,020  

Tesoro Corp.

     16,987        1,376,966  

Transocean Ltd. (a)

     122,500        1,525,125  

Valero Energy Corp.

     33,500        2,220,715  
     

 

 

 
        20,204,203  
     

 

 

 
Oil & Gas Services — 0.6%  

Baker Hughes, Inc.

     13,131        785,496  

Halliburton Co.

     14,467        711,921  

National Oilwell Varco, Inc.

     5,594        224,264  

Schlumberger Ltd.

     5,131        400,731  

TechnipFMC PLC (a)

     53,540        1,740,050  
     

 

 

 
        3,862,462  
     

 

 

 
Pipelines — 0.0%  

Enbridge, Inc.

     62        2,594  

Kinder Morgan, Inc.

     38        826  

The Williams Cos., Inc.

     48        1,421  
     

 

 

 
        4,841  
     

 

 

 
        25,499,676  
     

 

 

 
Financial — 14.1%  
Banks — 7.3%  

Bank of America Corp.

     270,598        6,383,407  

The Bank of New York Mellon Corp.

     29,707        1,403,062  

BB&T Corp.

     18,566        829,900  

Capital One Financial Corp.

     9,142        792,246  

Citigroup, Inc.

     104,951        6,278,169  

Citizens Financial Group, Inc.

     34,500        1,191,975  

Comerica, Inc.

     4,421        303,192  

Fifth Third Bancorp

     59,421        1,509,293  

The Goldman Sachs Group, Inc.

     13,520        3,105,814  

Huntington Bancshares, Inc.

     6,800        91,052  

JP Morgan Chase & Co.

     114,222        10,033,261  

KeyCorp

     9,164        162,936  

M&T Bank Corp.

     1,355        209,659  

Morgan Stanley

     54,097        2,317,515  

Northern Trust Corp.

     5,059        438,008  

The PNC Financial Services Group, Inc.

     12,918        1,553,260  

Regions Financial Corp.

     140,515        2,041,683  

State Street Corp.

     8,176        650,891  

SunTrust Banks, Inc.

     12,100        669,130  

US Bancorp

     29,202        1,503,903  

Wells Fargo & Co.

     95,916        5,338,685  

Zions Bancorp

     27,141        1,139,922  
     

 

 

 
        47,946,963  
     

 

 

 
     Number of
Shares
     Value  
Diversified Financial Services — 1.9%  

Alliance Data Systems Corp.

     3,460      $ 861,540  

American Express Co.

     22,449        1,775,940  

Ameriprise Financial, Inc.

     1,736        225,125  

BlackRock, Inc.

     880        337,489  

The Charles Schwab Corp.

     312        12,733  

Discover Financial Services

     17,783        1,216,179  

E*TRADE Financial Corp. (a)

     54,061        1,886,188  

Franklin Resources, Inc.

     38,387        1,617,628  

Intercontinental Exchange, Inc.

     15        898  

Invesco Ltd.

     8,012        245,408  

Mastercard, Inc. Class A

     9,020        1,014,479  

Nasdaq, Inc.

     45        3,125  

Navient Corp.

     121,491        1,793,207  

Synchrony Financial

     20,100        689,430  

T. Rowe Price Group, Inc.

     8,406        572,869  

Visa, Inc. Class A

     2,112        187,694  
     

 

 

 
        12,439,932  
     

 

 

 
Insurance — 3.6%  

Aflac, Inc.

     26,072        1,888,134  

The Allstate Corp.

     12,035        980,732  

American International Group, Inc.

     13,046        814,462  

Aon PLC

     3,445        408,887  

Assurant, Inc.

     396        37,885  

Berkshire Hathaway, Inc. Class B (a)

     15,386        2,564,538  

Chubb Ltd.

     18,748        2,554,415  

Cincinnati Financial Corp.

     4,419        319,361  

The Hartford Financial Services Group, Inc.

     8,152        391,867  

Lincoln National Corp.

     30,851        2,019,198  

Loews Corp.

     30,283        1,416,336  

Marsh & McLennan Cos., Inc.

     5,813        429,523  

MetLife, Inc.

     42,490        2,244,322  

Principal Financial Group, Inc.

     22,229        1,402,872  

The Progressive Corp.

     18,114        709,707  

Prudential Financial, Inc.

     16,827        1,795,104  

Torchmark Corp.

     2,582        198,917  

The Travelers Cos., Inc.

     7,167        863,910  

Unum Group

     49,331        2,313,131  

XL Group Ltd.

     5,188        206,794  
     

 

 

 
        23,560,095  
     

 

 

 
Real Estate Investment Trusts (REITS) — 1.2%  

American Tower Corp.

     589        71,587  

Apartment Investment & Management Co. Class A

     685        30,380  

AvalonBay Communities, Inc.

     2,081        382,072  

Boston Properties, Inc.

     3        397  

CBRE Group, Inc. Class A (a)

     6,287        218,725  

Equity Residential

     12,756        793,678  

Essex Property Trust, Inc.

     1,500        347,295  

Extra Space Storage, Inc.

     7,000        520,730  

GGP, Inc.

     19,700        456,646  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

6


MML Blend Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  

HCP, Inc.

     21,335      $ 667,359  

Host Hotels & Resorts, Inc.

     27,837        519,438  

Iron Mountain, Inc.

     48        1,712  

Kimco Realty Corp.

     2,767        61,123  

The Macerich Co.

     13,200        850,080  

Prologis, Inc.

     15,338        795,735  

Public Storage

     203        44,439  

Simon Property Group, Inc.

     645        110,959  

SL Green Realty Corp.

     2,300        245,226  

Ventas, Inc.

     8,825        573,978  

Vornado Realty Trust

     1,373        137,726  

Welltower, Inc.

     15,800        1,118,956  

Weyerhaeuser Co.

     26        884  
     

 

 

 
        7,949,125  
     

 

 

 
Savings & Loans — 0.1%  

People’s United Financial, Inc.

     25,351        461,388  
     

 

 

 
        92,357,503  
     

 

 

 
Industrial — 7.6%  
Aerospace & Defense — 2.0%  

Arconic, Inc.

     31,208        822,019  

The Boeing Co.

     23,342        4,128,266  

General Dynamics Corp.

     602        112,694  

Harris Corp.

     770        85,678  

L3 Technologies, Inc.

     5,290        874,384  

Lockheed Martin Corp.

     6,610        1,768,836  

Northrop Grumman Corp.

     3,968        943,749  

Raytheon Co.

     5,149        785,223  

Rockwell Collins, Inc.

     68        6,607  

United Technologies Corp.

     29,320        3,289,997  
     

 

 

 
        12,817,453  
     

 

 

 
Building Materials — 0.1%  

Johnson Controls International PLC

     13,765        579,782  

Martin Marietta Materials, Inc.

     490        106,942  

Masco Corp.

     25        850  

Vulcan Materials Co.

     65        7,831  
     

 

 

 
        695,405  
     

 

 

 
Electrical Components & Equipment — 0.1%  

Emerson Electric Co.

     15,169        908,016  
     

 

 

 

Electronics — 0.9%

     

Agilent Technologies, Inc.

     7,963        421,004  

Allegion PLC

     33        2,498  

Amphenol Corp. Class A

     64        4,555  

Corning, Inc.

     63,267        1,708,209  

FLIR Systems, Inc.

     2,852        103,470  

Fortive Corp.

     5,878        353,973  

Garmin Ltd.

     2,100        107,331  

Honeywell International, Inc.

     14,722        1,838,336  

PerkinElmer, Inc.

     2,720        157,923  

TE Connectivity Ltd.

     3,200        238,560  

Waters Corp. (a)

     5,060        790,929  
     

 

 

 
        5,726,788  
     

 

 

 
     Number of
Shares
     Value  
Engineering & Construction — 0.4%  

Fluor Corp.

     17,109      $ 900,275  

Jacobs Engineering Group, Inc.

     32,420        1,792,178  
     

 

 

 
        2,692,453  
     

 

 

 
Environmental Controls — 0.0%      

Republic Services, Inc.

     337        21,167  

Stericycle, Inc. (a)

     97        8,041  

Waste Management, Inc.

     3,073        224,083  
     

 

 

 
        253,291  
     

 

 

 
Hand & Machine Tools — 0.1%      

Snap-on, Inc.

     1,671        281,848  

Stanley Black & Decker, Inc.

     4,499        597,782  
     

 

 

 
        879,630  
     

 

 

 
Machinery – Construction & Mining — 0.2%  

Caterpillar, Inc.

     17,475        1,620,981  
     

 

 

 
Machinery – Diversified — 0.9%      

Cummins, Inc.

     12,485        1,887,732  

Deere & Co.

     16,800        1,828,848  

Flowserve Corp.

     2,170        105,071  

Rockwell Automation, Inc.

     9,233        1,437,671  

Roper Technologies, Inc.

     663        136,903  

Xylem, Inc.

     3,355        168,488  
     

 

 

 
        5,564,713  
     

 

 

 
Miscellaneous – Manufacturing — 1.8%  

3M Co.

     1,042        199,366  

Dover Corp.

     3,873        311,196  

Eaton Corp. PLC

     12,566        931,769  

General Electric Co.

     165,686        4,937,443  

Illinois Tool Works, Inc.

     5,425        718,650  

Ingersoll-Rand PLC

     26,300        2,138,716  

Parker-Hannifin Corp.

     12,948        2,075,823  

Pentair PLC

     23        1,444  

Textron, Inc.

     6,372        303,243  
     

 

 

 
        11,617,650  
     

 

 

 
Packaging & Containers — 0.2%      

Ball Corp.

     2        148  

Sealed Air Corp.

     53        2,310  

WestRock Co.

     19,567        1,018,071  
     

 

 

 
        1,020,529  
     

 

 

 
Transportation — 0.9%      

C.H. Robinson Worldwide, Inc.

     7,720        596,679  

CSX Corp.

     38,007        1,769,226  

Expeditors International of Washington, Inc.

     126        7,118  

FedEx Corp.

     4,220        823,533  

Norfolk Southern Corp.

     7,813        874,821  

Ryder System, Inc.

     9,138        689,371  

Union Pacific Corp.

     7,032        744,829  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

7


MML Blend Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  

United Parcel Service, Inc. Class B

     4,880      $ 523,624  
     

 

 

 
        6,029,201  
     

 

 

 
        49,826,110  
     

 

 

 
Technology — 11.6%  
Computers — 5.2%  

Accenture PLC Class A

     11,530        1,382,217  

Apple, Inc.

     109,467        15,726,029  

Cognizant Technology Solutions Corp. Class A (a)

     9,256        550,917  

Conduent, Inc. (a)

     38,069        638,798  

CSRA, Inc.

     1,926        56,413  

Hewlett Packard Enterprise Co.

     67,274        1,594,394  

HP, Inc.

     138,574        2,477,703  

International Business Machines Corp.

     24,380        4,245,533  

NetApp, Inc.

     52,398        2,192,856  

Seagate Technology PLC

     49,200        2,259,756  

Teradata Corp. (a)

     53,286        1,658,260  

Western Digital Corp.

     18,647        1,538,937  
     

 

 

 
        34,321,813  
     

 

 

 
Office & Business Equipment — 0.3%  

Pitney Bowes, Inc.

     57,689        756,303  

Xerox Corp.

     190,345        1,397,132  
     

 

 

 
        2,153,435  
     

 

 

 
Semiconductors — 2.4%  

Analog Devices, Inc.

     472        38,680  

Applied Materials, Inc.

     34,239        1,331,897  

Broadcom Ltd.

     1,959        428,943  

Intel Corp.

     114,523        4,130,845  

KLA-Tencor Corp.

     7,689        730,993  

Lam Research Corp.

     10,423        1,337,896  

Microchip Technology, Inc.

     21        1,549  

Micron Technology, Inc. (a)

     65,717        1,899,221  

NVIDIA Corp.

     8,126        885,165  

QUALCOMM, Inc.

     41,100        2,356,674  

Skyworks Solutions, Inc.

     90        8,818  

Texas Instruments, Inc.

     23,574        1,899,122  

Xilinx, Inc.

     6,356        367,949  
     

 

 

 
        15,417,752  
     

 

 

 
Software — 3.7%  

Activision Blizzard, Inc.

     15,400        767,844  

Adobe Systems, Inc. (a)

     2,790        363,063  

Akamai Technologies, Inc. (a)

     19,026        1,135,852  

Autodesk, Inc. (a)

     37        3,199  

CA, Inc.

     45,773        1,451,919  

Citrix Systems, Inc. (a)

     7,677        640,185  

The Dun & Bradstreet Corp.

     2,226        240,274  

Electronic Arts, Inc. (a)

     9,037        808,992  

Fidelity National Information Services, Inc.

     1,200        95,544  

Fiserv, Inc. (a)

     1,676        193,260  

Intuit, Inc.

     6,430        745,816  
     Number of
Shares
     Value  

Microsoft Corp.

     198,195      $ 13,053,123  

Oracle Corp.

     70,657        3,152,009  

Paychex, Inc.

     5,164        304,160  

Red Hat, Inc. (a)

     3,721        321,866  

salesforce.com, Inc. (a)

     11,244        927,518  
     

 

 

 
        24,204,624  
     

 

 

 
        76,097,624  
     

 

 

 
Utilities — 2.5%  
Electric — 2.4%  

The AES Corp.

     123,087        1,376,113  

Ameren Corp.

     660        36,029  

American Electric Power Co., Inc.

     8,385        562,885  

CMS Energy Corp.

     7,903        353,580  

Consolidated Edison, Inc.

     2,182        169,454  

Dominion Resources, Inc.

     1,716        133,110  

DTE Energy Co.

     8,860        904,695  

Duke Energy Corp.

     15,190        1,245,732  

Edison International

     8,226        654,872  

Entergy Corp.

     23,998        1,822,888  

Eversource Energy

     812        47,729  

Exelon Corp.

     47,340        1,703,293  

FirstEnergy Corp.

     2,880        91,642  

NextEra Energy, Inc.

     8,540        1,096,280  

NRG Energy, Inc.

     125,800        2,352,460  

PG&E Corp.

     1,316        87,330  

Pinnacle West Capital Corp.

     1,396        116,399  

PPL Corp.

     11,618        434,397  

Public Service Enterprise Group, Inc.

     17,624        781,624  

SCANA Corp.

     3,647        238,331  

The Southern Co.

     20,122        1,001,673  

WEC Energy Group, Inc.

     4,542        275,382  

Xcel Energy, Inc.

     5,472        243,230  
     

 

 

 
        15,729,128  
     

 

 

 
Gas — 0.1%  

CenterPoint Energy, Inc.

     6,431        177,303  

NiSource, Inc.

     713        16,962  

Sempra Energy

     4,261        470,841  
     

 

 

 
        665,106  
     

 

 

 
        16,394,234  
     

 

 

 
TOTAL COMMON STOCK
(Cost $332,181,983)
        473,127,397  
     

 

 

 
PREFERRED STOCK — 0.1%  
Financial — 0.1%  
Insurance — 0.1%  

The Allstate Corp. 5.100%, 3 mo. LIBOR US + 3.165%, VRN

     20,000        531,600  
     

 

 

 
TOTAL PREFERRED STOCK
(Cost $500,000)
        531,600  
     

 

 

 
TOTAL EQUITIES
(Cost $332,681,983)
        473,658,997  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

8


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
BONDS & NOTES — 27.2%  
CORPORATE DEBT — 10.5%  
Advertising — 0.0%  

WPP Finance 2010
5.625% 11/15/43

   $ 204,000      $ 216,652  
     

 

 

 
Aerospace & Defense — 0.0%  

United Technologies Corp.
6.125% 7/15/38

     80,000        101,550  
     

 

 

 
Agriculture — 0.1%  

Altria Group, Inc.
4.250% 8/09/42

     105,000        102,366  

Bunge Ltd. Finance Corp.
3.250% 8/15/26

     165,000        159,473  

Bunge Ltd. Finance Corp.
3.500% 11/24/20

     160,000        164,171  

Philip Morris International, Inc.
6.375% 5/16/38

     35,000        44,463  

Reynolds American, Inc.
5.850% 8/15/45

     120,000        140,929  
     

 

 

 
        611,402  
     

 

 

 
Airlines — 0.3%  

American Airlines Group, Inc. (b)
5.500% 10/01/19

     454,000        472,160  

American Airlines Pass-Through Trust, Series 2014-1, Class B
4.375% 4/01/24

     36,961        37,146  

American Airlines Pass-Through Trust, Series 2014-1, Class A
3.700% 4/01/28

     92,966        93,431  

Delta Air Lines, Inc.
2.875% 3/13/20

     230,000        231,862  

Delta Air Lines, Inc.
3.625% 3/15/22

     290,000        296,034  

Spirit Airlines Pass-Through Trust, Series 2015-1, Class A
4.100% 10/01/29

     328,458        335,027  

United Airlines Pass-Through Trust, Series 2014-1, Class A
4.000% 10/11/27

     118,978        123,291  

WestJet Airlines Ltd. (b)
3.500% 6/16/21

     117,000        116,222  
     

 

 

 
        1,705,173  
     

 

 

 
Auto Manufacturers — 0.1%  

Ford Motor Co.
5.291% 12/08/46

     80,000        79,816  

General Motors Financial Co., Inc.
3.100% 1/15/19

     289,000        293,662  

General Motors Financial Co., Inc.
3.200% 7/13/20

     330,000        335,683  

Hyundai Capital America (b)
2.550% 2/06/19

     170,000        170,898  
     Principal
Amount
     Value  

Hyundai Capital America (b)
2.875% 8/09/18

   $ 135,000      $ 136,427  
     

 

 

 
        1,016,486  
     

 

 

 
Auto Parts & Equipment — 0.0%  

Lear Corp.
4.750% 1/15/23

     198,000        205,100  

Lear Corp.
5.375% 3/15/24

     85,000        89,693  
     

 

 

 
        294,793  
     

 

 

 
Banks — 1.4%  

Associated Banc-Corp.
2.750% 11/15/19

     460,000        464,591  

Associated Banc-Corp.
4.250% 1/15/25

     494,000        501,299  

Bancolombia SA
5.950% 6/03/21

     205,000        224,731  

Bank of America Corp.
4.183% 11/25/27

     465,000        466,690  

Bank of America Corp.
4.750% 4/21/45

     220,000        221,066  

Bank of America Corp.
7.750% 5/14/38

     95,000        130,699  

The Bank of Nova Scotia
4.500% 12/16/25

     200,000        208,947  

Barclays PLC
4.337% 1/10/28

     260,000        259,487  

BNP Paribas SA (b)
3.800% 1/10/24

     215,000        213,952  

Citigroup, Inc.
3.875% 3/26/25

     562,000        558,325  

Citigroup, Inc.
8.125% 7/15/39

     90,000        132,090  

First Horizon National Corp.
3.500% 12/15/20

     625,000        642,196  

First Republic Bank
4.375% 8/01/46

     685,000        659,078  

Fulton Financial Corp.
3.600% 3/16/22

     230,000        232,151  

The Goldman Sachs Group, Inc.
3.500% 11/16/26

     245,000        239,516  

The Goldman Sachs Group, Inc.
5.375% 3/15/20

     225,000        243,917  

The Goldman Sachs Group, Inc.
5.950% 1/15/27

     400,000        456,460  

The Goldman Sachs Group, Inc.
6.250% 2/01/41

     60,000        75,350  

The Goldman Sachs Group, Inc.
6.750% 10/01/37

     75,000        92,545  

HSBC Holdings PLC 3 mo. USD LIBOR + 1.055%, VRN
3.262% 3/13/23

     255,000        256,420  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

9


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

ICICI Bank Ltd. (b)
4.700% 2/21/18

   $ 395,000      $ 403,833  

JP Morgan Chase & Co.
3.375% 5/01/23

     140,000        140,229  

JP Morgan Chase & Co.
3.625% 12/01/27

     380,000        368,665  

JP Morgan Chase & Co.
3.875% 9/10/24

     220,000        222,988  

JP Morgan Chase & Co.
4.500% 1/24/22

     200,000        215,539  

JP Morgan Chase & Co.
4.950% 3/25/20

     50,000        53,991  

JP Morgan Chase & Co.
5.600% 7/15/41

     195,000        232,566  

Morgan Stanley
4.875% 11/01/22

     345,000        373,030  

Regions Bank
7.500% 5/15/18

     130,000        137,643  

SVB Financial Group
3.500% 1/29/25

     460,000        449,596  

SVB Financial Group
5.375% 9/15/20

     75,000        81,170  

Turkiye Garanti Bankasi AS (b)
4.750% 10/17/19

     210,000        213,258  

Valley National Bancorp
5.125% 9/27/23

     245,000        256,730  
     

 

 

 
        9,428,748  
     

 

 

 
Beverages — 0.1%  

Anheuser-Busch Cos, Inc.
6.500% 2/01/43

     25,000        33,469  

Anheuser-Busch InBev Finance, Inc.
4.900% 2/01/46

     675,000        729,489  

Molson Coors Brewing Co.
4.200% 7/15/46

     175,000        163,872  
     

 

 

 
        926,830  
     

 

 

 
Biotechnology — 0.1%  

Amgen, Inc.
5.150% 11/15/41

     115,000        123,103  

Baxalta, Inc.
3.600% 6/23/22

     105,000        107,334  

Baxalta, Inc.
4.000% 6/23/25

     290,000        295,481  

Baxalta, Inc.
5.250% 6/23/45

     140,000        152,906  
     

 

 

 
        678,824  
     

 

 

 
Building Materials — 0.2%  

James Hardie International Finance Ltd. (b)
5.875% 2/15/23

     375,000        387,188  

Martin Marietta Material, Inc. 3 mo. USD LIBOR + 1.100%, FRN
2.252% 6/30/17

     220,000        220,360  
     Principal
Amount
     Value  

Owens Corning
9.000% 6/15/19

   $ 55,000      $ 62,155  

Standard Industries, Inc. (b)
5.000% 2/15/27

     471,000        461,580  
     

 

 

 
        1,131,283  
     

 

 

 
Chemicals — 0.3%  

Celanese US Holdings LLC
4.625% 11/15/22

     175,000        185,450  

CF Industries, Inc.
6.875% 5/01/18

     450,000        469,125  

Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP (b)
3.400% 12/01/26

     270,000        270,271  

The Dow Chemical Co.
8.550% 5/15/19

     65,000        73,685  

Incitec Pivot Finance LLC (b)
6.000% 12/10/19

     110,000        118,294  

Monsanto Co.
4.400% 7/15/44

     100,000        97,193  

RPM International, Inc.
3.750% 3/15/27

     110,000        109,945  

RPM International, Inc.
6.125% 10/15/19

     100,000        109,094  

RPM International, Inc.
6.500% 2/15/18

     205,000        213,326  

The Valspar Corp.
7.250% 6/15/19

     125,000        137,750  
     

 

 

 
        1,784,133  
     

 

 

 
Commercial Services — 0.1%  

The ADT Corp.
6.250% 10/15/21

     440,000        478,236  

ERAC USA Finance LLC (b)
6.700% 6/01/34

     78,000        94,668  
     

 

 

 
        572,904  
     

 

 

 
Computers — 0.3%  

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (b)
3.480% 6/01/19

     450,000        461,120  

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (b)
4.420% 6/15/21

     380,000        397,383  

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (b)
6.020% 6/15/26

     76,000        82,854  

Everett Spinco, Inc. (b)
2.875% 3/27/20

     90,000        90,754  

Everett Spinco, Inc. (b)
4.250% 4/15/24

     140,000        142,356  

Everett Spinco, Inc. (b)
4.750% 4/15/27

     275,000        280,469  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

10


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Leidos Holdings, Inc.
4.450% 12/01/20

   $ 835,000      $ 868,400  
     

 

 

 
        2,323,336  
     

 

 

 
Diversified Financial Services — 1.1%  

AerCap Ireland Capital DAC/AerCap Global Aviation Trust
4.500% 5/15/21

     765,000        801,915  

Affiliated Managers Group, Inc.
3.500% 8/01/25

     290,000        284,930  

Air Lease Corp.
3.000% 9/15/23

     465,000        454,403  

Air Lease Corp.
3.375% 1/15/19

     375,000        383,694  

Air Lease Corp.
3.375% 6/01/21

     355,000        361,886  

Air Lease Corp. STEP
5.625% 4/01/17

     80,000        80,000  

Ally Financial, Inc.
3.250% 11/05/18

     485,000        488,337  

Ally Financial, Inc.
3.600% 5/21/18

     129,000        130,612  

Ally Financial, Inc.
4.750% 9/10/18

     260,000        267,150  

Ares Finance Co. LLC (b)
4.000% 10/08/24

     355,000        332,452  

Brookfield Finance LLC
4.000% 4/01/24

     455,000        457,695  

CIT Group, Inc.
3.875% 2/19/19

     287,000        293,816  

CIT Group, Inc. (b)
5.500% 2/15/19

     160,000        168,200  

Discover Financial Services
4.100% 2/09/27

     265,000        265,089  

Genpact Luxembourg Sarl (b)
3.700% 4/01/22

     360,000        362,087  

International Lease Finance Corp.
3.875% 4/15/18

     270,000        275,272  

International Lease Finance Corp.
6.250% 5/15/19

     15,000        16,162  

Lazard Group LLC
3.625% 3/01/27

     355,000        346,172  

Lazard Group LLC
4.250% 11/14/20

     600,000        631,052  

Legg Mason, Inc.
5.625% 1/15/44

     165,000        168,380  

Neuberger Berman Group LLC/Neuberger Berman Finance Corp. (b)
4.500% 3/15/27

     170,000        172,729  

UBS Group Funding Switzerland AG (b)
3.491% 5/23/23

     260,000        261,678  
     

 

 

 
        7,003,711  
     

 

 

 
     Principal
Amount
     Value  
Electric — 0.6%  

Duke Energy Corp.
3.750% 9/01/46

   $ 195,000      $ 175,065  

Entergy Arkansas, Inc.
3.500% 4/01/26

     70,000        71,665  

Entergy Louisiana LLC
4.950% 1/15/45

     165,000        169,214  

Florida Power & Light Co.
4.950% 6/01/35

     125,000        142,485  

IPALCO Enterprises, Inc.
3.450% 7/15/20

     615,000        621,919  

Israel Electric Corp. Ltd. (b)
7.250% 1/15/19

     200,000        216,492  

Majapahit Holding BV (b)
7.750% 1/20/20

     195,000        219,999  

Metropolitan Edison Co. (b)
4.000% 4/15/25

     215,000        216,800  

Nevada Power Co., Series N
6.650% 4/01/36

     135,000        178,131  

Oncor Electric Delivery Co.
7.500% 9/01/38

     40,000        57,819  

Pacific Gas & Electric Co.
5.800% 3/01/37

     120,000        148,165  

Pennsylvania Electric Co. (b)
4.150% 4/15/25

     295,000        296,571  

Progress Energy, Inc.
7.000% 10/30/31

     25,000        32,925  

Puget Energy, Inc.
3.650% 5/15/25

     350,000        346,934  

Puget Energy, Inc.
6.500% 12/15/20

     271,000        303,506  

Transelec SA (b)
4.625% 7/26/23

     175,000        183,437  

Tri-State Pass-Through Trust, Series 2003, Class A (b)
6.040% 1/31/18

     16,620        16,886  

Virginia Electric and Power Co.
6.350% 11/30/37

     150,000        192,825  

Wisconsin Public Service Corp.
5.650% 11/01/17

     225,000        229,811  
     

 

 

 
        3,820,649  
     

 

 

 
Electronics — 0.2%  

Arrow Electronics, Inc.
3.500% 4/01/22

     255,000        257,025  

Arrow Electronics, Inc.
4.500% 3/01/23

     80,000        83,153  

Avnet, Inc.
3.750% 12/01/21

     30,000        30,340  

Avnet, Inc.
4.875% 12/01/22

     123,000        129,200  

FLIR Systems, Inc.
3.125% 6/15/21

     195,000        196,080  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

11


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Ingram Micro, Inc. STEP
5.450% 12/15/24

   $ 203,000      $ 199,746  

Tech Data Corp.
3.700% 2/15/22

     130,000        130,451  
     

 

 

 
        1,025,995  
     

 

 

 
Engineering & Construction — 0.1%  

SBA Tower Trust (b)
2.877% 7/15/21

     200,000        198,822  

SBA Tower Trust (b)
3.156% 10/15/45

     210,000        211,071  
     

 

 

 
        409,893  
     

 

 

 
Environmental Controls — 0.1%  

Clean Harbors, Inc.
5.250% 8/01/20

     395,000        402,023  
     

 

 

 
Foods — 0.1%  

Kraft Foods, Inc.
6.500% 2/09/40

     63,000        77,879  

Kraft Heinz Foods Co.
3.000% 6/01/26

     515,000        483,968  

Tyson Foods, Inc.
4.875% 8/15/34

     105,000        107,393  
     

 

 

 
        669,240  
     

 

 

 
Forest Products & Paper — 0.1%  

Sappi Papier Holding GmbH (b)
7.750% 7/15/17

     635,000        636,334  
     

 

 

 
Gas — 0.1%  

NiSource Finance Corp.
5.800% 2/01/42

     175,000        203,620  

Spire, Inc.
4.700% 8/15/44

     290,000        290,142  
     

 

 

 
        493,762  
     

 

 

 
Hand & Machine Tools — 0.0%  

Kennametal, Inc.
2.650% 11/01/19

     150,000        150,008  
     

 

 

 
Health Care – Products — 0.1%  

Abbott Laboratories
2.900% 11/30/21

     205,000        205,897  

Abbott Laboratories
3.750% 11/30/26

     125,000        124,843  

Abbott Laboratories
4.900% 11/30/46

     115,000        119,125  

Becton Dickinson & Co.
4.685% 12/15/44

     125,000        130,481  
     

 

 

 
        580,346  
     

 

 

 
Health Care – Services — 0.1%  

Humana, Inc.
3.950% 3/15/27

     250,000        255,621  

Humana, Inc.
4.800% 3/15/47

     125,000        130,674  
     Principal
Amount
     Value  

Kaiser Foundation Hospitals
3.500% 4/01/22

   $ 75,000      $ 77,542  

UnitedHealth Group, Inc.
3.950% 10/15/42

     55,000        53,475  

UnitedHealth Group, Inc.
6.875% 2/15/38

     110,000        149,515  
     

 

 

 
        666,827  
     

 

 

 
Home Builders — 0.1%  

Lennar Corp.
4.500% 11/15/19

     516,000        530,835  
     

 

 

 
Housewares — 0.1%  

Newell Brands, Inc.
3.850% 4/01/23

     335,000        346,247  
     

 

 

 
Insurance — 0.9%  

The Allstate Corp. 3 mo. USD LIBOR +
2.938%, VRN
5.750% 8/15/53

     345,000        370,219  

Arch Capital Finance LLC
4.011% 12/15/26

     155,000        158,935  

Arch Capital Group US, Inc.
5.144% 11/01/43

     170,000        181,933  

AXIS Specialty Finance PLC
2.650% 4/01/19

     95,000        95,788  

Brown & Brown, Inc.
4.200% 9/15/24

     272,000        278,868  

The Chubb Corp. 3 mo. USD LIBOR +
2.250%, VRN
6.375% 4/15/37

     50,000        48,375  

CNA Financial Corp.
7.350% 11/15/19

     180,000        203,023  

CNO Financial Group, Inc.
5.250% 5/30/25

     465,000        476,918  

Enstar Group Ltd.
4.500% 3/10/22

     140,000        141,762  

Five Corners Funding Trust (b)
4.419% 11/15/23

     215,000        228,570  

MetLife Capital Trust IV (b)
7.875% 12/15/37

     345,000        424,350  

Prudential Financial, Inc. 3 mo. USD LIBOR + 3.040%, VRN
5.200% 3/15/44

     134,000        137,584  

Prudential Financial, Inc. 3 mo. USD LIBOR + 3.920%, VRN
5.625% 6/15/43

     245,000        262,517  

QBE Insurance Group Ltd. (b)
2.400% 5/01/18

     115,000        115,218  

Reinsurance Group of America, Inc.
3.950% 9/15/26

     360,000        363,057  

Reinsurance Group of America, Inc.
4.700% 9/15/23

     225,000        242,215  

Reinsurance Group of America, Inc.
6.450% 11/15/19

     220,000        242,794  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

12


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Trinity Acquisition PLC
3.500% 9/15/21

   $ 270,000      $ 274,493  

Trinity Acquisition PLC
4.400% 3/15/26

     70,000        71,751  

Unum Group
3.000% 5/15/21

     150,000        150,170  

USF&G Capital I (b)
8.500% 12/15/45

     150,000        193,321  

Willis North America, Inc.
7.000% 9/29/19

     97,000        107,481  

Willis Towers Watson PLC
5.750% 3/15/21

     230,000        252,722  

XLIT Ltd.
4.450% 3/31/25

     170,000        172,034  

XLIT Ltd.
5.750% 10/01/21

     115,000        127,725  

XLIT Ltd.
6.375% 11/15/24

     325,000        379,241  
     

 

 

 
        5,701,064  
     

 

 

 
Internet — 0.1%  

Expedia, Inc.
7.456% 8/15/18

     425,000        455,106  
     

 

 

 
Investment Companies — 0.1%  

Ares Capital Corp.
3.875% 1/15/20

     505,000        515,088  

FS Investment Corp.
4.000% 7/15/19

     390,000        393,404  
     

 

 

 
        908,492  
     

 

 

 
Iron & Steel — 0.1%  

ArcelorMittal
5.125% 6/01/20

     320,000        332,800  

ArcelorMittal STEP
6.000% 8/05/20

     285,000        307,087  

Reliance Steel & Aluminum Co.
4.500% 4/15/23

     145,000        151,318  

Vale Overseas Ltd.
6.875% 11/21/36

     95,000        102,135  
     

 

 

 
        893,340  
     

 

 

 
Lodging — 0.0%  

Marriott International, Inc.
6.750% 5/15/18

     40,000        42,134  
     

 

 

 
Machinery – Diversified — 0.1%  

CNH Industrial Capital LLC
3.375% 7/15/19

     230,000        232,013  

CNH Industrial Capital LLC
3.625% 4/15/18

     116,000        117,305  

CNH Industrial Capital LLC
3.875% 10/15/21

     500,000        500,255  
     

 

 

 
        849,573  
     

 

 

 
Media — 0.2%  

21st Century Fox America, Co.
6.900% 8/15/39

     100,000        127,661  
     Principal
Amount
     Value  

Charter Communications Operating LLC/Charter Communications Operating Capital
3.579% 7/23/20

   $ 270,000      $ 277,732  

Charter Communications Operating LLC/Charter Communications Operating Capital
6.484% 10/23/45

     225,000        259,051  

Comcast Corp.
3.400% 7/15/46

     220,000        188,239  

Time Warner Cable, Inc.
6.750% 6/15/39

     110,000        127,061  

Time Warner Cable, Inc.
8.250% 4/01/19

     45,000        50,169  

Time Warner Cable, Inc.
8.750% 2/14/19

     65,000        72,658  

Time Warner, Inc.
4.700% 1/15/21

     125,000        134,007  

Time Warner, Inc.
6.250% 3/29/41

     25,000        28,709  
     

 

 

 
        1,265,287  
     

 

 

 
Mining — 0.0%  

Glencore Canada Corp.
5.500% 6/15/17

     175,000        176,279  

Glencore Funding LLC (b)
4.625% 4/29/24

     55,000        57,120  
     

 

 

 
        233,399  
     

 

 

 
Miscellaneous – Manufacturing — 0.1%  

General Electric Co.
4.125% 10/09/42

     270,000        275,022  

Textron, Inc.
3.650% 3/15/27

     105,000        104,276  
     

 

 

 
        379,298  
     

 

 

 
Office & Business Equipment — 0.1%  

Pitney Bowes, Inc.
5.750% 9/15/17

     31,000        31,580  

Pitney Bowes, Inc.
4.750% 5/15/18

     20,000        20,555  

Pitney Bowes, Inc.
3.375% 10/01/21

     485,000        476,630  
     

 

 

 
        528,765  
     

 

 

 
Office Furnishings — 0.0%  

Steelcase, Inc.
6.375% 2/15/21

     100,000        111,401  
     

 

 

 
Oil & Gas — 0.4%  

Anadarko Petroleum Corp.
5.550% 3/15/26

     165,000        183,114  

ConocoPhillips Co.
2.400% 12/15/22

     140,000        136,747  

Encana Corp.
3.900% 11/15/21

     205,000        209,434  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

13


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Encana Corp.
6.500% 5/15/19

   $ 125,000      $ 135,013  

Encana Corp.
6.500% 2/01/38

     80,000        89,331  

Helmerich & Payne International Drilling Co.
4.650% 3/15/25

     190,000        197,528  

Marathon Petroleum Corp.
6.500% 3/01/41

     170,000        188,154  

Nabors Industries, Inc. (b)
5.500% 1/15/23

     215,000        219,434  

PBF Holding Co. LLC/PBF Finance Corp. STEP
7.000% 11/15/23

     175,000        175,437  

Petroleos Mexicanos
6.625% 6/15/38

     37,000        37,647  

Petroleos Mexicanos
3.125% 1/23/19

     50,000        50,200  

Petroleos Mexicanos
5.500% 1/21/21

     285,000        301,672  

Petroleos Mexicanos
6.375% 1/23/45

     80,000        78,018  

Petroleos Mexicanos (b)
6.500% 3/13/27

     60,000        64,545  

Phillips 66
5.875% 5/01/42

     60,000        68,670  

Pioneer Natural Resources Co.
4.450% 1/15/26

     320,000        336,804  

QEP Resources, Inc.
6.875% 3/01/21

     100,000        106,250  

Tesoro Corp. (b)
5.125% 12/15/26

     285,000        298,965  
     

 

 

 
        2,876,963  
     

 

 

 
Oil & Gas Services — 0.1%  

National Oilwell Varco, Inc.
2.600% 12/01/22

     199,000        190,459  

National Oilwell Varco, Inc.
3.950% 12/01/42

     171,000        137,635  

Weatherford International Ltd.
6.000% 3/15/18

     75,000        76,125  
     

 

 

 
        404,219  
     

 

 

 
Packaging & Containers — 0.2%  

Amcor Finance USA, Inc. (b)
3.625% 4/28/26

     490,000        485,354  

Brambles USA, Inc. (b)
4.125% 10/23/25

     134,000        137,310  

Brambles USA, Inc. (b)
5.350% 4/01/20

     90,000        96,654  

Crown Americas LLC/Crown Americas Capital Corp. IV
4.500% 1/15/23

     460,000        470,350  
     Principal
Amount
     Value  

Graphic Packaging International, Inc.
4.750% 4/15/21

   $ 100,000      $ 104,250  

Graphic Packaging International, Inc.
4.875% 11/15/22

     60,000        62,850  
     

 

 

 
        1,356,768  
     

 

 

 
Pharmaceuticals — 0.3%  

AbbVie, Inc.
4.700% 5/14/45

     285,000        284,245  

Actavis Funding SCS
3.000% 3/12/20

     300,000        305,120  

Actavis Funding SCS
4.750% 3/15/45

     190,000        190,813  

Express Scripts Holding Co.
4.500% 2/25/26

     180,000        184,636  

Johnson & Johnson
5.850% 7/15/38

     40,000        52,253  

McKesson Corp.
2.284% 3/15/19

     95,000        95,684  

McKesson Corp.
4.883% 3/15/44

     60,000        61,939  

McKesson Corp.
6.000% 3/01/41

     125,000        145,190  

Merck Sharp & Dohme Corp.
5.850% 6/30/39

     45,000        56,427  

Mylan NV
3.150% 6/15/21

     275,000        276,011  

Mylan NV
3.950% 6/15/26

     155,000        151,718  

Shire Acquisitions Investments Ireland DAC
2.875% 9/23/23

     95,000        92,181  

Teva Pharmaceutical Finance Netherlands III BV
4.100% 10/01/46

     75,000        64,605  
     

 

 

 
        1,960,822  
     

 

 

 
Pipelines — 0.5%  

Energy Transfer Partners LP
4.200% 4/15/27

     165,000        163,018  

EnLink Midstream Partners LP
4.850% 7/15/26

     75,000        77,391  

Enterprise Products Operating LLC
5.700% 2/15/42

     5,000        5,585  

Enterprise Products Operating LLC
5.950% 2/01/41

     150,000        171,475  

Enterprise Products Operating LLC
6.125% 10/15/39

     4,000        4,647  

Kinder Morgan Energy Partners LP
6.375% 3/01/41

     65,000        70,624  

Kinder Morgan Energy Partners LP
6.500% 2/01/37

     120,000        130,438  

Kinder Morgan Energy Partners LP
6.550% 9/15/40

     90,000        99,109  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

14


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Kinder Morgan Energy Partners LP
6.950% 1/15/38

   $ 10,000      $ 11,603  

Kinder Morgan Finance Co. LLC (b)
6.000% 1/15/18

     150,000        154,686  

Kinder Morgan, Inc.
4.300% 6/01/25

     165,000        168,565  

Magellan Midstream Partners LP
5.150% 10/15/43

     170,000        178,329  

MPLX LP
4.125% 3/01/27

     105,000        104,545  

MPLX LP
4.875% 12/01/24

     502,000        528,072  

MPLX LP
4.875% 6/01/25

     372,000        389,663  

MPLX LP
5.200% 3/01/47

     35,000        35,219  

MPLX LP
5.500% 2/15/23

     136,000        140,216  

Plains All American Pipeline LP/PAA Finance Corp.
4.500% 12/15/26

     210,000        214,148  

Sabine Pass Liquefaction LLC (b)
4.200% 3/15/28

     240,000        237,075  

Southern Natural Gas Co. LLC STEP (b)
5.900% 4/01/17

     250,000        250,000  

Western Gas Partners LP
4.000% 7/01/22

     181,000        185,875  
     

 

 

 
        3,320,283  
     

 

 

 
Real Estate Investment Trusts (REITS) — 0.3%  

American Tower Corp.
3.450% 9/15/21

     425,000        432,666  

American Tower Corp.
4.400% 2/15/26

     140,000        144,826  

Brandywine Operating Partners LP
4.950% 4/15/18

     200,000        205,466  

Crown Castle International Corp.
4.000% 3/01/27

     120,000        120,752  

DDR Corp.
4.750% 4/15/18

     60,000        61,360  

Duke Realty LP
3.250% 6/30/26

     120,000        116,323  

Federal Realty Investment Trust
5.900% 4/01/20

     55,000        60,337  

Healthcare Trust of America Holdings LP
3.500% 8/01/26

     200,000        192,335  

Highwoods Realty LP
7.500% 4/15/18

     265,000        279,848  

Host Hotels & Resorts LP
3.750% 10/15/23

     40,000        40,311  

Host Hotels & Resorts LP
3.875% 4/01/24

     245,000        246,860  

Tanger Properties LP
3.125% 9/01/26

     323,000        300,448  
     Principal
Amount
     Value  

Weingarten Realty Investors
3.250% 8/15/26

   $ 85,000      $ 81,009  
     

 

 

 
        2,282,541  
     

 

 

 
Retail — 0.4%  

AutoNation, Inc.
4.500% 10/01/25

     120,000        123,996  

Bed Bath & Beyond, Inc.
5.165% 8/01/44

     101,000        90,290  

CVS Health Corp.
6.125% 9/15/39

     175,000        214,013  

CVS Pass-Through Trust (b)
5.926% 1/10/34

     281,500        321,526  

Dollar Tree, Inc.
5.750% 3/01/23

     470,000        500,550  

El Puerto de Liverpool SAB de CV (b)
3.950% 10/02/24

     445,000        434,987  

The Home Depot, Inc.
5.950% 4/01/41

     150,000        191,911  

QVC, Inc.
3.125% 4/01/19

     155,000        157,396  

QVC, Inc.
4.375% 3/15/23

     150,000        150,432  

QVC, Inc.
4.450% 2/15/25

     245,000        237,930  

QVC, Inc.
5.125% 7/02/22

     30,000        31,492  

Tiffany & Co.
4.900% 10/01/44

     165,000        154,904  

Walgreens Boots Alliance, Inc.
2.700% 11/18/19

     110,000        111,470  
     

 

 

 
        2,720,897  
     

 

 

 
Semiconductors — 0.1%  

Broadcom Corp./Broadcom Cayman Finance Ltd. (b)
3.875% 1/15/27

     240,000        241,265  

Lam Research Corp.
2.750% 3/15/20

     215,000        217,498  
     

 

 

 
        458,763  
     

 

 

 
Software — 0.1%  

Broadridge Financial Solutions, Inc.
3.400% 6/27/26

     165,000        160,843  

Broadridge Financial Solutions, Inc.
3.950% 9/01/20

     110,000        115,175  

CA, Inc.
3.600% 8/15/22

     125,000        126,838  

Microsoft Corp.
4.450% 11/03/45

     330,000        348,282  

Oracle Corp.
4.000% 7/15/46

     270,000        257,585  
     

 

 

 
        1,008,723  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

15


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
Telecommunications — 0.3%  

AT&T, Inc.
3.800% 3/01/24

   $ 255,000      $ 258,919  

AT&T, Inc.
4.750% 5/15/46

     260,000        242,603  

AT&T, Inc.
5.250% 3/01/37

     320,000        326,225  

AT&T, Inc.
6.550% 2/15/39

     25,000        29,493  

CenturyLink, Inc.
6.150% 9/15/19

     140,000        149,100  

Cisco Systems, Inc.
5.500% 1/15/40

     55,000        67,108  

Crown Castle Towers LLC (b)
6.113% 1/15/40

     170,000        184,070  

Hughes Satellite Systems Corp.
6.500% 6/15/19

     175,000        189,420  

Verizon Communications, Inc.
4.862% 8/21/46

     207,000        199,010  

Verizon Communications, Inc.
5.012% 8/21/54

     181,000        171,711  

Verizon Communications, Inc.
6.550% 9/15/43

     182,000        223,319  
     

 

 

 
        2,040,978  
     

 

 

 
Transportation — 0.1%  

Asciano Finance Ltd. (b)
4.625% 9/23/20

     105,000        109,154  

Asciano Finance Ltd. (b)
5.000% 4/07/18

     250,000        255,961  

Autoridad del Canal de Panama (b)
4.950% 7/29/35

     210,000        229,425  
     

 

 

 
        594,540  
     

 

 

 
Trucking & Leasing — 0.2%  

Aviation Capital Group Corp. (b)
2.875% 9/17/18

     905,000        914,074  

GATX Corp.
4.750% 6/15/22

     150,000        162,024  
     

 

 

 
        1,076,098  
     

 

 

 
TOTAL CORPORATE DEBT
(Cost $67,754,958)
        68,997,438  
     

 

 

 
MUNICIPAL OBLIGATIONS — 0.2%  

JobsOhio Beverage System Series B
4.532% 1/01/35

     325,000        350,009  

Orange County Local Transportation Authority BAB
6.908% 2/15/41

     230,000        312,110  

Panhandle-Plains Student Finance Corp., Series 2001-A2, FRN
2.290% 12/01/31

     299,968        288,162  
     Principal
Amount
     Value  

State of California BAB
7.550% 4/01/39

   $ 120,000      $ 175,991  

State of California BAB
7.600% 11/01/40

     105,000        156,513  
     

 

 

 
        1,282,785  
     

 

 

 
TOTAL MUNICIPAL OBLIGATIONS
(Cost $1,241,254)
        1,282,785  
     

 

 

 
NON-U.S. GOVERNMENT AGENCY OBLIGATIONS — 8.3%  
Auto Floor Plan ABS — 0.0%  

NCF Dealer Floorplan Master Trust,
Series 2014-1A, Class A, 1 mo. LIBOR + 1.500%, FRN (b)
2.478% 10/20/20

     230,000        230,000  
     

 

 

 
Automobile ABS — 0.4%  

CPS Auto Trust, Series 2016-C,
Class A (b)
1.620% 1/15/20

     108,366        108,200  

Drive Auto Receivables Trust,
Series 2016-BA, Class B (b)
2.560% 6/15/20

     160,000        160,862  

First Investors Auto Owner Trust,
Series 2016-2A, Class B (b)
2.210% 7/15/22

     450,000        445,100  

GLS Auto Receivables Trust,
Series 2015-1A, Class A (b)
2.250% 12/15/20

     53,479        53,392  

Oscar US Funding Trust II,
Series 2015-1A, Class A4 (b)
2.440% 6/15/22

     350,000        344,910  

Oscar US Funding Trust IV,
Series 2016-1A, Class A2B, 1 mo. USD LIBOR + 1.700%, FRN (b)
2.612% 7/15/20

     186,094        186,176  

Oscar US Funding Trust V,
Series 2016-2A, Class A4 (b)
2.990% 12/15/23

     630,000        618,716  

Oscar US Funding Trust VI,
Series 2017-1A, Class A4 (b)
3.300% 5/10/24

     150,000        149,864  

Santander Drive Auto Receivables Trust, Series 2015-4, Class C
2.970% 3/15/21

     250,000        253,583  
     

 

 

 
        2,320,803  
     

 

 

 
Commercial MBS — 0.7%  

Banc of America Commercial Mortgage, Inc., Series 2007-4, Class A4, VRN
5.894% 2/10/51

     85,957        86,946  

Banc of America Commercial Mortgage, Inc., Series 2007-4, Class AM, VRN
5.961% 2/10/51

     220,000        224,370  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

16


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Banc of America Commercial Mortgage, Inc., Series 2008-1, Class A4, VRN
6.231% 2/10/51

   $ 240,482      $ 244,368  

Banc of America Commercial Mortgage, Inc., Series 2008-1, Class AM, VRN
6.274% 2/10/51

     215,000        219,662  

Bear Stearns Commercial Mortgage Securities, Series 2007-PW17, Class A4, VRN
5.694% 6/11/50

     183,756        185,525  

Bear Stearns Commercial Mortgage Securities, Series 2007-PW18, Class A4
5.700% 6/11/50

     233,161        236,273  

Commercial Mortgage Pass-Through Certificates, Series 2012-CR4, Class B (b) 3.703% 10/15/45

     195,000        197,199  

Commercial Mortgage Pass-Through Certificates, Series 2014-UBS2, Class A5
3.961% 3/10/47

     319,000        335,141  

Commercial Mortgage Pass-Through Certificates, Series 2015-CR23, Class C, VRN
4.255% 5/10/48

     140,000        126,940  

Commercial Mortgage Pass-Through Certificates, Series 2007-C9, Class A4, VRN
5.808% 12/10/49

     127,479        128,372  

DBCCRE Mortgage Trust,
Series 2014-ARCP, Class A (b)
4.238% 1/10/34

     165,000        172,857  

DBRR Trust, Series 2013-EZ3, Class A, VRN (b)
1.636% 12/18/49

     11,782        11,773  

DBUBS Mortgage Trust,
Series 2011-LC1A, Class B, VRN (b)
5.471% 11/10/46

     110,000        120,413  

GCCFC Commercial Mortgage Trust,
Series 2006-GG7, Class AM, VRN
5.728% 7/10/38

     188,691        188,779  

GS Mortgage Securities Corp. II,
Series 2012-GC6, Class AS (b)
4.948% 1/10/45

     100,000        109,140  

JP Morgan Chase Commercial Mortgage Securities Corp., Series 2007-CB18, Class AM, VRN
5.466% 6/12/47

     123,991        124,252  

ML-CFC Commercial Mortgage Trust, Series 2007-9, Class AM, VRN
5.856% 9/12/49

     260,000        265,177  

Morgan Stanley Capital I Trust,
Series 2011-C2, Class B, VRN (b)
5.200% 6/15/44

     250,000        266,962  
     Principal
Amount
     Value  

TIAA Seasoned Commercial Mortgage Trust, Series 2007-C4, Class AJ, VRN
5.474% 8/15/39

   $ 29,653      $ 29,632  

Velocity Commercial Capital Loan Trust, Series 2016-2, Class AFX, VRN
2.997% 10/25/46

     314,700        311,410  

VNO Mortgage Trust, Series 2013-PENN, Class A (b)
3.808% 12/13/29

     240,000        251,574  

Wachovia Bank Commercial Mortgage Trust, Series 2007-C31, Class AM, VRN
5.591% 4/15/47

     173,667        175,212  

Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4, VRN
6.053% 2/15/51

     37,032        37,169  

Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class AM, VRN
6.053% 2/15/51

     235,000        236,015  

Wells Fargo Commercial Mortgage Trust, Series 2010-C1, Class A1 (b)
3.349% 11/15/43

     28,089        28,713  

WF-RBS Commercial Mortgage Trust, Series 2012-C8, Class B
4.311% 8/15/45

     190,000        197,865  
     

 

 

 
        4,511,739  
     

 

 

 
Home Equity ABS — 0.0%  

Mastr Asset-Backed Securities Trust, Series 2005-WMC1, Class M3, 1 mo. USD LIBOR + .720%, FRN
1.702% 3/25/35

     174,672        174,662  

NovaStar Mortgage Funding Trust,
Series 2005-3, Class A2D, 1 mo. LIBOR + .740%, FRN
1.352% 1/25/36

     81,439        81,293  

Residential Asset Securities Corp.,
Series 2005-EMX4, Class M1, 1 mo. USD LIBOR + ..430%, FRN
1.412% 11/25/35

     39,432        39,486  
     

 

 

 
        295,441  
     

 

 

 
Other ABS — 4.3%  

321 Henderson Receivables I LLC,
Series 2015-1A, Class A (b)
3.260% 9/15/72

     54,403        50,582  

321 Henderson Receivables LLC,
Series 2005-1A, Class A1, 1 mo. USD LIBOR + .230%, FRN (b)
1.142% 11/15/40

     92,904        88,216  

Aames Mortgage Investment Trust,
Series 2005-1, Class M4, 1 mo. USD LIBOR + 1.125%, FRN
2.107% 6/25/35

     84,207        83,975  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

17


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Aames Mortgage Investment Trust, Series 2004-1, Class M5, 1 mo. USD LIBOR + 1.725%, FRN
2.707% 1/25/35

   $ 159,304      $ 158,837  

AIMCO CLO Ltd., Series 2014-AA, Class A, 3 mo. USD LIBOR + 1.540%, FRN (b)
2.570% 7/20/26

     360,000        360,127  

ALM VII Ltd., Series 2012-7A, Class A1R, 3 mo. USD LIBOR + 1.480%, FRN (b)
2.503% 10/15/28

     410,000        413,046  

ALM XIV Ltd., Series 2014-14A, Class A1, 3 mo. USD LIBOR + 1.430%, FRN (b)
2.469% 7/28/26

     660,000        660,597  

Alterna Funding I LLC, Series 2014-1A, Class NOTE (b)
1.639% 2/15/21

     70,868        69,451  

Alterna Funding II LLC, Series 2015-1A, Class A (b)
2.500% 2/15/24

     152,554        152,173  

Apidos CLO XXV, Series 2016-25A, Class A1, 3 mo. USD LIBOR + 1.460%, FRN (b)
2.203% 10/20/28

     250,000        250,680  

Applebee’s Funding LLC/IHOP Funding LLC, Series 2014-1, Class A2 (b)
4.277% 9/05/44

     72,000        70,527  

Arbys Funding LLC, Series 2015-1A, Class A2 (b)
4.969% 10/30/45

     316,000        317,581  

ARL Second LLC, Series 2014-1A, Class A1 (b)
2.920% 6/15/44

     148,989        144,285  

Avery Point III CLO Ltd., Series 2013-3A, Class A, 3 mo. USD LIBOR + 1.400%, FRN (b)
2.424% 1/18/25

     250,000        250,013  

Avery Point V CLO Ltd., Series 2014-5A, Class A, 3 mo. USD LIBOR + 1.460%, FRN (b)
2.483% 7/17/26

     350,000        350,012  

Avery Point VI CLO Ltd., Series 2015-6A, Class A, 3 mo. USD LIBOR + 1.450%, FRN (b)
2.484% 8/05/27

     570,000        571,888  

BCC Funding VIII LLC, Series 2014-1A, Class A (b)
1.794% 6/20/20

     13,204        13,188  

Birchwood Park CLO Ltd., Series 2014-1A, Class AR, 3 mo. USD LIBOR + 1.180%, FRN (b)
2.203% 7/15/26

     345,000        345,007  
     Principal
Amount
     Value  

Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class AA, STEP (b)
2.487% 12/16/41

   $ 283,958      $ 280,485  

BlueMountain CLO Ltd., Series 2013-2A, Class A, 3 mo. USD LIBOR + 1.200%, FRN (b)
2.241% 1/22/25

     250,000        249,999  

BlueMountain CLO Ltd., Series 2015-2A, Class A1, 3 mo. USD LIBOR + 1.430%, FRN (b)
2.454% 7/18/27

     380,000        380,774  

BlueVirgo Trust, Series 2015-1A, Class NOTE (b)
3.000% 12/15/22

     347,377        349,854  

CAN Capital Funding LLC, Series 2014-1A, Class A, (Acquired 10/15/14, Cost $249,997) (b) (c)
3.117% 4/15/20

     82,554        82,027  

Capital Automotive REIT, Series 2014-1A, Class A (b)
3.660% 10/15/44

     160,000        156,469  

Capital Automotive REIT, Series 2017-1A, Class A2 ( (d) (b)
4.180% 4/15/47

     140,000        139,980  

Capital Automotive REIT, Series 2012-1A, Class A (b)
4.700% 7/15/42

     222,574        222,956  

Carlyle Global Market Strategies,
Series 2014-4A, Class A1R, 3 mo. USD LIBOR + 1.200%, FRN (b)
2.223% 10/15/26

     250,000        250,144  

Cazenovia Creek Funding I LLC,
Series 2015-1A, Class A (b)
2.000% 12/10/23

     87,924        87,319  

Citigroup Mortgage Loan Trust, Series 2006-SHL1, Class A1, 1 mo. USD LIBOR + .200%, FRN (b)
1.182% 11/25/45

     22,822        22,833  

CKE Restaurant Holdings, Inc.,
Series 2013-1A, Class A2 (b)
4.474% 3/20/43

     162,962        161,392  

Countrywide Asset-Backed Certificates, Series 2004-5, Class 3A, 1 mo. USD LIBOR + .460%, FRN
1.442% 9/25/34

     42,294        42,202  

Cronos Containers Program I Ltd.,
Series 2014-2A, Class A (b)
3.270% 11/18/29

     222,222        217,043  

DB Master Finance LLC, Series 2015-1A, Class A2I (b)
3.262% 2/20/45

     343,000        344,872  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

18


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Diamond Resorts Owner Trust, Series 2013-2, Class A (b)
2.270% 5/20/26

   $ 429,852      $ 427,628  

Diamond Resorts Owner Trust, Series 2014-1, Class A (b)
2.540% 5/20/27

     63,167        63,162  

Diamond Resorts Owner Trust, Series 2016-1, Class A (b)
3.080% 11/20/28

     766,931        759,725  

Domino’s Pizza Master Issuer LLC, Series 2015-1A, Class A2I (b)
3.484% 10/25/45

     503,625        503,616  

Domino’s Pizza Master Issuer LLC, Series 2015-1A, Class A2II (b)
4.474% 10/25/45

     533,250        504,847  

Drug Royalty Corp., Inc., Series 2012-1, Class A2 (b)
5.800% 7/15/24

     23,333        23,486  

Dryden XXXI Senior Loan Fund, Series 2014-31A, Class A, 3 mo. USD LIBOR + 1.350%, FRN (b)
2.374% 4/18/26

     475,000        475,020  

Element Rail Leasing II LLC, Series 2015-1A, Class A1 (b)
2.707% 2/19/45

     77,077        74,124  

Element Rail Leasing II LLC, Series 2016-1A, Class A1 (b)
3.968% 3/19/46

     205,812        206,532  

Entegry New Orleans Storm Recovery Funding I LLC, Series 2015-1, Class A
2.670% 6/01/27

     101,695        102,320  

Fairway Outdoor Funding LLC, Series 2012-1A, Class A2 (b)
4.212% 10/15/42

     389,241        391,497  

First Franklin Mortgage Loan Trust, Series 2005-FF6, Class M1, 1 mo. USD LIBOR + .630%, FRN
1.612% 5/25/36

     29,948        29,911  

First Franklin Mortgage Loan Trust, Series 2004-FFH4, Class M6, 1 mo. USD LIBOR + 1.725%, FRN
2.707% 1/25/35

     420,000        422,399  

Fremont Home Loan Trust, Series 2005-E, Class 2A3, 1 mo. USD LIBOR + .240%, FRN
1.222% 1/25/36

     21,504        21,451  

Galaxy XX CLO Ltd., Series 2015-20A, Class A, 3 mo. USD LIBOR + 1.450%, FRN (b)
2.480% 7/20/27

     425,000        425,122  

Global SC Finance II SRL, Series 2014-1A, Class A1 (b)
3.190% 7/17/29

     183,333        177,148  
     Principal
Amount
     Value  

Global SC Finance II SRL, Series 2013-2A, Class A (b)
3.670% 11/17/28

   $ 174,370      $ 171,758  

Global SC Funding One Ltd., Series 2015-1, Class B1 (b)
2.740% 1/18/30

     43,722        43,722  

GoldenTree Loan Opportunities VII Ltd., Series 2013-7A, Class A, 3 mo. USD LIBOR + 1.150%, FRN (b)
2.188% 4/25/25

     565,000        564,614  

Goodgreen Trust, Series 2016-1A,
Class A (b)
3.230% 10/15/52

     461,279        462,641  

GSAMP Trust, Series 2005-AHL, Class M1, 1 mo. USD LIBOR + .645%, FRN
1.627% 4/25/35

     39,992        40,191  

HERO Funding Trust, Series 2016-3A, Class A1 (b)
3.080% 9/20/42

     296,841        293,130  

HERO Funding Trust, Series 2016-4A, Class A1 (b)
3.570% 9/20/47

     292,464        288,087  

Hilton Grand Vacations Trust, Series 2013-A, Class A (b)
2.280% 1/25/26

     60,296        59,855  

Home Equity Asset Trust, Series 2006-4, Class 2A3, 1 mo. USD LIBOR + .170%, FRN
1.152% 8/25/36

     9,571        9,579  

ING Investment Management CLO Ltd., Series 2013-3A, Class A1, 3 mo. USD LIBOR + 1.450%, FRN (b)
2.474% 1/18/26

     260,000        260,038  

J.G. Wentworth XXXV LLC, Series 2015-2A, Class A (b)
3.870% 3/15/58

     97,486        95,514  

LCM LP, Series 16A, Class A, 3 mo. USD LIBOR + 1.500%, FRN (b)
2.523% 7/15/26

     460,000        462,546  

Long Beach Mortgage Loan Trust, Series 2005-1, Class M2, 1 mo. USD LIBOR + .795%, FRN
1.777% 2/25/35

     101,221        100,858  

Long Beach Mortgage Loan Trust, Series 2005-WL1, Class M2, 1 mo. USD LIBOR + .825%, FRN
1.807% 6/25/35

     141,553        141,355  

Marlette Funding Trust, Series 2016-1A, Class A (b)
3.060% 1/17/23

     283,782        283,236  

Miramax LLC, Series 2014-1A, Class A2 (b)
3.340% 7/20/26

     167,104        166,016  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

19


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Morgan Stanley ABS Capital I, Inc. Trust, Series 2005-WMC6, Class M2, 1 mo. USD LIBOR + ..750%, FRN
1.732% 7/25/35

   $ 19,155      $ 19,515  

Mosaic Solar Loans LLC, Series 2017-1A, Class A (b)
4.450% 6/20/42

     105,955        106,426  

Nations Equipment Finance Funding II LLC, Series 2014-1A, Class A (b)
1.558% 7/20/18

     30,938        30,908  

NRZ Advance Receivables Trust, Series 2016-T3, Class AT3 (b)
2.833% 10/16/51

     1,650,000        1,621,125  

NRZ Advance Receivables Trust, Series 2016-T4, Class AT4 (b)
3.107% 12/15/50

     450,000        447,592  

OHA Credit Partners VIII Ltd., Series 2013-8A, Class A, 3 mo. USD LIBOR + 1.120%, FRN (b)
2.150% 4/20/25

     355,000        355,059  

OnDeck Asset Securitization Trust II LLC, Series 2016-1A, Class A (b)
4.210% 5/17/20

     130,000        129,240  

Orange Lake Timeshare Trust, Series 2014-AA, Class A (b)
2.290% 7/09/29

     50,132        49,261  

Orange Lake Timeshare Trust, Series 2016-A, Class B (b)
2.910% 3/08/29

     229,388        226,053  

Oxford Finance Funding Trust, Series 2016-1A, Class A (b)
3.968% 6/17/24

     220,000        217,801  

Park Place Securities, Inc.,
Series 2005-WHQ4, Class A1A, 1 mo. USD LIBOR + .260%, FRN
1.242% 9/25/35

     20,543        20,582  

Race Point VIII CLO Ltd., Series 2013-8A, Class AR, 3 mo. USD LIBOR + 1.340%, FRN (b)
2.392% 2/20/30

     250,000        250,646  

Sierra Receivables Funding Co. LLC, Series 2015-3A, Class B (b)
3.080% 9/20/32

     49,264        49,380  

SoFi Consumer Loan Program LLC, Series 2016-3, Class A (b)
3.050% 12/26/25

     345,932        346,295  

SoFi Consumer Loan Program LLC, Series 2016-5, Class A (b)
3.060% 9/25/28

     1,625,634        1,623,605  

SoFi Consumer Loan Program LLC, Series 2016-2A, Class A (b)
3.090% 10/27/25

     532,458        532,036  
     Principal
Amount
     Value  

SoFi Consumer Loan Program LLC, Series 2016-1A, Class A (b)
3.260% 8/25/25

   $ 682,045      $ 682,715  

SoFi Consumer Loan Program LLC, Series 2017-2, Class A (b)
3.280% 2/25/26

     600,000        597,315  

Spirit Master Funding LLC, Series 2014-4A, Class A1 (b)
3.501% 1/20/45

     160,000        158,078  

SpringCastle America Funding LLC, Series 2016-AA, Class A (b)
3.050% 4/25/29

     252,056        253,602  

SPS Servicer Advance Receivables Trust, Series 2016-T2, Class AT2 (b)
2.750% 11/15/49

     670,000        665,394  

SPS Servicer Advance Receivables Trust, Series 2015-T3, Class AT3 (b)
2.920% 7/15/47

     200,000        200,307  

Structured Receivables Finance LLC, Series 2010-B, Class A (b)
3.730% 8/15/36

     101,455        101,335  

SuttonPark Structured Settlements LLC, Series 2017-1A, Class A (b)
4.190% 1/15/71

     349,290        349,360  

Symphony CLO XV Ltd., Series 2014-15A, Class AR, 3 mo. USD LIBOR + 1.180%, FRN (b)
2.203% 10/17/26

     430,000        430,198  

Taco Bell Funding LLC, Series 2016-1A, Class A2I (b)
3.832% 5/25/46

     388,050        389,751  

TAL Advantage VI LLC, Series 2017-1A, Class A (b)
4.500% 4/21/42

     410,000        414,974  

TCI-Symphony CLO Ltd., Series 2016-1A, Class A, 3 mo. USD LIBOR + 1.480%, FRN (b)
2.399% 10/13/29

     340,000        342,602  

Treman Park CLO Ltd., Series 2015-1A, Class AR, 3 mo. USD LIBOR + 1.370%, FRN (b)
2.530% 4/20/27

     490,000        490,032  

Trip Rail Master Funding LLC, Series 2011-1A, Class A1A (b)
4.370% 7/15/41

     76,073        75,505  

VSE VOI Mortgage LLC, Series 2016-A, Class A (b)
2.540% 7/20/33

     375,348        370,356  

Welk Resorts LLC, Series 2015-AA, Class A (b)
2.790% 6/16/31

     148,340        146,665  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

20


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Wendys Funding LLC, Series 2015-1A, Class A2I (b)
3.371% 6/15/45

   $ 467,875      $ 469,903  

Wendys Funding LLC, Series 2015-1A, Class A2II (b)
4.080% 6/15/45

     305,350        309,498  

Wendys Funding LLC, Series 2015-1A, Class A23 (b)
4.497% 6/15/45

     418,625        407,630  
     

 

 

 
        28,270,406  
     

 

 

 
Student Loans ABS — 2.8%  

Academic Loan Funding Trust, Series 2012-1A, Class A2, 1 mo. USD LIBOR + 1.100%, FRN (b)
2.082% 12/27/44

     495,000        493,075  

Access Group, Inc., Series 2004-A, Class A3, 28 Day ARS, FRN
1.699% 7/01/39

     400,000        392,044  

Access Group, Inc., Series 2003-A, Class A3, 3 mo. Treasury + 1.200%, FRN
1.743% 7/01/38

     181,600        174,944  

College Loan Corp. Trust I, Series 2007-1, Class B2, 28 Day ARS, FRN
2.224% 1/25/47

     130,000        99,388  

DRB Prime Student Loan Trust, Series 2016-R, Class A1, 1 mo. USD LIBOR + 1.900%, FRN (b)
2.480% 10/25/44

     860,257        862,838  

DRB Prime Student Loan Trust, Series 2015-B, Class A1, 1 mo. USD LIBOR + 1.900%, FRN (b)
2.882% 10/27/31

     62,851        64,024  

DRB Prime Student Loan Trust, Series 2016-B, Class A2 (b)
2.890% 6/25/40

     310,262        309,317  

DRB Prime Student Loan Trust, Series 2016-R, Class A2 (b)
3.070% 10/25/44

     860,257        862,838  

DRB Prime Student Loan Trust, Series 2015-B, Class A2 (b)
3.170% 7/25/31

     211,159        213,460  

Earnest Student Loan Program LLC, Series 2016-D, Class A2 (b)
2.720% 1/25/41

     362,003        354,922  

Earnest Student Loan Program LLC, Series 2016-C, Class A1, 1 mo. USD LIBOR + 1.850%, FRN (b)
2.832% 10/27/36

     625,569        625,568  

Earnest Student Loan Program LLC, Series 2016-B, Class A2 (b)
3.020% 5/25/34

     253,239        253,159  
     Principal
Amount
     Value  

ECMC Group Student Loan Trust, Series 2017-1A, Class A, 1 mo. USD LIBOR + 1.200%, FRN (b)
2.093% 12/27/66

   $ 450,000      $ 449,946  

ECMC Group Student Loan Trust, Series 2016-1A, Class A, 1 mo. USD LIBOR + 1.350%, FRN (b)
2.332% 7/26/66

     663,157        662,726  

EdLinc Student Loan Funding Trust, Series 2012-1, Class B, 1 mo. USD LIBOR + 4.240%, FRN (b)
5.222% 11/26/40

     270,000        310,566  

Goal Capital Funding Trust, Series 2006-1, Class B, 3 mo. USD LIBOR + .450%, FRN
1.502% 8/25/42

     177,014        163,428  

KeyCorp Student Loan Trust, Series 2004-A, Class 2A2, 3 mo. USD LIBOR + .300%, FRN
1.337% 10/28/41

     9,514        9,507  

KnowledgeWorks Foundation, Series 2010-1, Class A, 3 mo. USD LIBOR + .950%, FRN
2.002% 2/25/42

     190,925        191,183  

National Collegiate Student Loan Trust, Series 2005-1, Class A4, 1 mo. USD LIBOR + .240%, FRN
1.222% 11/27/28

     34,744        34,582  

Navient Student Loan Trust, Series 2016-1A, Class A, 1 mo. USD LIBOR + .700%, FRN (b)
1.682% 2/25/70

     518,931        510,339  

Navient Student Loan Trust, Series 2017-1A, Class A3, 1 mo. USD LIBOR + 1.150%, FRN (b)
1.920% 7/26/66

     750,000        749,910  

Navient Student Loan Trust, Series 2016-5A, Class A, 1 mo. USD LIBOR + 1.250%, FRN (b)
2.232% 6/25/65

     520,273        527,980  

Navient Student Loan Trust, Series 2016-6A, Class A3, 1 mo. USD LIBOR + 1.300%, FRN (b)
2.282% 3/25/66

     2,150,000        2,182,268  

Navient Student Loan Trust, Series 2014-1, Class B, 1 mo. USD LIBOR + 1.500%, FRN
2.482% 6/25/48

     220,000        191,570  

Navient Student Loan Trust, Series 2014-8, Class B, 1 mo. USD LIBOR + 1.500%, FRN
2.482% 7/26/49

     155,000        152,232  

Navient Student Loan Trust, Series 2015-3, Class B, 1 mo. USD LIBOR + 1.500%, FRN
2.482% 10/25/58

     150,000        126,749  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

21


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Nelnet Private Education Loan Trust, Series 2016-A, Class A1B (b)
3.600% 12/26/40

   $ 255,138      $ 253,988  

Nelnet Student Loan Trust, Series 2005-2, Class A5, 3 mo. USD LIBOR +
.100%, FRN
1.256% 3/23/37

     331,885        324,002  

Nelnet Student Loan Trust, Series 2006-3, Class B, 3 mo. USD LIBOR +
.250%, FRN
1.403% 6/25/41

     124,473        106,823  

Nelnet Student Loan Trust, Series 2013-5A, Class A, 1 mo. USD LIBOR +
.630%, FRN (b)
1.612% 1/25/37

     208,958        208,256  

Nelnet Student Loan Trust, Series 2005-4, Class A4R2, 28 Day ARS, FRN
1.768% 3/22/32

     200,000        183,304  

Nelnet Student Loan Trust, Series 2015-3A, Class B, 1 mo. USD LIBOR +
1.500%, FRN (b)
2.482% 6/25/54

     150,000        133,684  

North Carolina State Education Assistance Authority, Series 2011-2, Class A3, 3 mo. USD LIBOR + .800%, FRN
1.838% 7/25/36

     250,000        246,608  

PHEAA Student Loan Trust, Series 2016-2A, Class A, 1 mo. USD LIBOR + .950%, FRN (b)
1.932% 11/25/65

     587,070        588,171  

SLC Private Student Loan Trust, Series 2006-A, Class A5, 3 mo. USD LIBOR + .170%, FRN
1.193% 7/15/36

     41,379        41,379  

SLC Private Student Loan Trust, Series 2006-A, Class C, 3 mo. USD LIBOR + .450%, FRN
1.473% 7/15/36

     230,000        209,433  

SLC Student Loan Trust, Series 2006-A, Class B, 3 mo. USD LIBOR + .300%, FRN
1.323% 7/15/36

     125,000        122,464  

SLM Student Loan Trust, Series 2005-5, Class A4, 3 mo. USD LIBOR +
.140%, FRN
1.178% 10/25/28

     330,000        325,573  

SLM Student Loan Trust, Series 2005-3, Class B, 3 mo. USD LIBOR + .150%, FRN
1.188% 4/25/40

     194,954        162,577  

SLM Student Loan Trust, Series 2005-5, Class A5, 3 mo. USD LIBOR + .750%, FRN
1.788% 10/25/40

     300,000        293,584  
     Principal
Amount
     Value  

SLM Student Loan Trust, Series 2002-7, Class A10, 28 Day ARS, FRN
3.250% 3/15/28

   $ 136,000      $ 136,000  

SLM Student Loan Trust, Series 2002-7, Class A11, 28 Day ARS, FRN
3.270% 3/15/28

     160,000        160,000  

SLM Student Loan Trust, Series 2002-7, Class B, 28 Day ARS, FRN
3.284% 12/15/39

     550,000        544,654  

SLM Student Loan Trust, Series 2003-5, Class A9, 28 Day ARS, FRN
4.250% 6/17/30

     350,000        350,000  

SLM Student Loan Trust, Series 2003-5, Class A7, 28 Day ARS, FRN
4.260% 6/17/30

     50,000        50,000  

SMB Private Education Loan Trust, Series 2015-B, Class A2B, 1 mo. USD LIBOR + 1.200%, FRN (b)
2.112% 7/15/27

     200,000        201,870  

SMB Private Education Loan Trust, Series 2016-B, Class A2A (b)
2.430% 2/17/32

     245,000        241,891  

SMB Private Education Loan Trust, Series 2016-A, Class A2A (b)
2.700% 5/15/31

     450,000        449,944  

SMB Private Education Loan Trust, Series 2017-A, Class B (b)
3.500% 6/17/41

     300,000        289,246  

SoFi Professional Loan Program LLC, Series 2016-D, Class A1, 1 mo. USD LIBOR + .950%, FRN (b)
1.932% 1/25/39

     149,418        150,623  

SoFi Professional Loan Program LLC, Series 2016-B, Class A1, 1 mo. USD LIBOR + 1.200%, FRN (b)
2.182% 6/25/33

     355,549        359,401  

SoFi Professional Loan Program LLC, Series 2016-B, Class A2B (b)
2.740% 10/25/32

     300,000        298,286  

SoFi Professional Loan Program LLC, Series 2017-A, Class B, VRN (b)
3.440% 3/26/40

     180,000        176,595  

South Carolina Student Loan Corp., Series 2014-1, Class A2, 1 mo. USD LIBOR + 1.000%, FRN
1.784% 1/03/33

     290,000        286,836  

South Carolina Student Loan Corp., Series 2010-1, Class A3, 3 mo. USD LIBOR + 1.050%, FRN
2.088% 10/27/36

     170,000        169,747  
     

 

 

 
        18,033,502  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

22


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
WL Collateral CMO — 0.1%      

Countrywide Home Loans, Inc., Series 2004-2, Class 1A1, VRN
3.478% 2/25/34

   $ 19,777      $ 19,757  

Countrywide Home Loans, Inc., Series 2003-42, Class 1A1, VRN
3.728% 9/25/33

     7,632        7,511  

GSR Mortgage Loan Trust, Series 2004-9, Class 2A1, VRN
3.285% 8/25/34

     11,631        11,792  

IndyMac Index Mortgage Loan Trust, Series 2004-AR4, Class 1A, VRN
3.038% 8/25/34

     56,158        51,684  

JP Morgan Mortgage Trust, Series 2017-1, Class A11, VRN (b)
3.500% 1/25/47

     548,509        547,267  

Merrill Lynch Mortgage Investors, Inc., Series 2003-A4, Class IA, VRN
3.176% 7/25/33

     3,793        3,904  

Merrill Lynch Mortgage Investors, Inc., Series 2004-A1, Class IA, VRN
3.315% 2/25/34

     7,613        7,364  

Morgan Stanley Mortgage Loan Trust, Series 2004-2AR, Class 1A, VRN
3.250% 2/25/34

     245        259  

Structured Adjustable Rate Mortgage Loan Trust, Series 2004-2, Class 2A, VRN
3.397% 3/25/34

     37,156        38,261  

Washington Mutual Mortgage Pass-Through Certificates, Series 2004-AR2, Class A, 12 mo. MTA +
1.400%, FRN 2.038% 4/25/44

     83,389        83,512  
     

 

 

 
        771,311  
     

 

 

 
WL Collateral PAC — 0.0%      

Structured Asset Securities Corp., Series 2002-11A, Class 2A1, VRN
3.378% 6/25/32

     23,353        23,209  
     

 

 

 
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS
(Cost $54,490,377)
        54,456,411  
     

 

 

 
SOVEREIGN DEBT OBLIGATIONS — 0.3%  

Colombia Government International Bond
6.125% 1/18/41

     620,000        706,800  

Mexico Government International Bond
5.125% 1/15/20

     200,000        216,200  

Mexico Government International Bond
6.750% 9/27/34

     160,000        199,891  
     Principal
Amount
     Value  

Mexico Government International Bond
4.750% 3/08/44

   $ 590,000      $ 573,775  

Peruvian Government International Bond
6.550% 3/14/37

     95,000        122,669  

Poland Government International Bond
6.375% 7/15/19

     230,000        252,310  
     

 

 

 
        2,071,645  
     

 

 

 
TOTAL SOVEREIGN DEBT OBLIGATIONS
(Cost $1,974,001)
        2,071,645  
     

 

 

 
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES — 6.5%  
Collateralized Mortgage Obligations — 0.5%  

Federal Home Loan Mortgage Corp.

     

Series 4303, Class AP
3.000% 8/15/43

     522,091        530,972  

Series 4290, Class CA
3.500% 12/15/38

     344,805        353,657  

Series 2617, Class Z
5.500% 5/15/33

     267,292        298,167  

Series 2693, Class Z
5.500% 10/15/33

     482,143        527,712  

Series 3423, Class PB
5.500% 3/15/38

     104,503        115,210  

Federal National Mortgage Association

     

Series 2014-7, Class VA
3.500% 5/25/25

     230,465        239,677  

Series 2014-48, Class AB
4.000% 10/25/40

     475,187        493,709  

Series 2007-32, Class Z
5.500% 4/25/37

     156,618        171,642  

Series 2010-60, Class HJ
5.500% 5/25/40

     103,251        111,773  

Federal National Mortgage Association REMIC Series 2007-B2, Class ZA
5.500% 6/25/37

     131,028        142,501  

U.S. Department of Veteran Affairs Series 1992-1, Class 2Z
7.750% 5/15/22

     104,098        114,411  
     

 

 

 
        3,099,431  
     

 

 

 
Pass-Through Securities — 6.0%  

Federal Home Loan Mortgage Corp.

     

Pool #Q37467 3.500%
11/01/45

     1,077,608        1,106,779  

Pool #Q37468 3.500%
11/01/45

     817,904        840,684  

Pool #Q41916 3.500%
7/01/46

     331,928        341,691  

Pool #Q42045 3.500%
7/01/46

     134,989        138,960  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

23


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Pool #Q44275 3.500%
11/01/46

   $ 256,007      $ 263,617  

Pool #Q44277 3.500%
11/01/46

     119,091        122,463  

Pool #Q46465 3.500%
3/01/47

     1,296,308        1,326,741  

Pool #C03537 4.500%
8/01/40

     268,004        289,842  

Pool #G06057 4.500%
10/01/40

     188,959        203,884  

Pool #G60485 4.500%
10/01/41

     240,633        259,715  

Pool #G60469 4.500%
1/01/42

     157,210        169,578  

Pool #G60342 4.500%
5/01/42

     829,985        895,152  

Pool #G60172 4.500%
9/01/43

     252,905        273,592  

Pool #G11431 6.000%
2/01/18

     178        178  

Pool #C55867 7.500%
2/01/30

     55,459        63,765  

Pool #C01079 7.500%
10/01/30

     8,253        9,705  

Pool #C01135 7.500%
2/01/31

     23,440        27,525  

Pool #C00470 8.000%
8/01/26

     17,580        20,541  

Pool #G00924 8.000%
3/01/28

     18,577        21,686  

Federal Home Loan Mortgage Corp. TBA
Pool #2865 4.000%
4/01/43(d)

     2,000,000        2,093,438  

Federal National Mortgage Association

     

Pool #725692 2.707%
10/01/33 1 year CMT + 2.145%, FRN

     66,692        70,015  

Pool #888586 2.755%
10/01/34 1 year CMT + 2.203%, FRN

     94,434        99,278  

Pool #AS1304 3.500%
12/01/28

     337,525        352,490  

Pool #AV1897 3.500%
12/01/28

     50,632        52,876  

Pool #AV2325 3.500%
12/01/28

     192,621        201,161  

Pool #AS6187 3.500%
11/01/45

     2,509,997        2,578,336  

Pool #AS6306 3.500%
12/01/45

     852,552        876,297  

Pool #AS6475 3.500%
1/01/46

     682,992        702,121  
     Principal
Amount
     Value  

Pool #AS6476 3.500%
1/01/46

   $ 732,170      $ 752,334  

Pool #AS6477 3.500%
1/01/46

     857,974        881,065  

Pool #BD6601 3.500%
12/01/46

     246,418        252,241  

Pool #BE4046 3.500%
12/01/46

     743,550        761,123  

Pool #BE5162 3.500%
2/01/47

     748,781        766,594  

Pool #AZ7917 4.000%
3/01/41

     88,406        93,372  

Pool #AL2441 4.000%
9/01/42

     572,561        606,423  

Pool #AL8422 4.000%
1/01/43

     83,118        87,839  

Pool #BC5984 4.000%
4/01/46

     183,297        192,362  

Pool #BF0094 4.000%
5/01/56

     1,159,908        1,214,188  

Pool #AB1466 4.500%
9/01/40

     106,947        115,348  

Pool #AH6787 4.500%
3/01/41

     202,597        219,082  

Pool #AL7566 4.500%
10/01/42

     200,575        216,394  

Pool #AL6997 4.500%
11/01/42

     412,196        445,736  

Pool #AL6608 4.500%
6/01/44

     152,692        165,307  

Pool #AD6437 5.000%
6/01/40

     112,986        123,892  

Pool #AD6996 5.000%
7/01/40

     778,411        853,059  

Pool #AL8173 5.000%
2/01/44

     303,452        332,648  

Pool #564594 7.000%
1/01/31

     10,932        12,668  

Pool #572844 7.000%
4/01/31

     24,197        28,413  

Pool #253795 7.000%
5/01/31

     69,060        80,796  

Pool #499386 7.500%
9/01/29

     1,727        2,043  

Pool #521006 7.500%
12/01/29

     668        788  

Pool #522769 7.500%
12/01/29

     67        80  

Pool #252981 7.500%
1/01/30

     8,744        10,315  

Pool #524874 7.500%
2/01/30

     174        178  

Pool #531196 7.500%
2/01/30

     1,015        1,202  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

24


MML Blend Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Pool #524317 7.500%
3/01/30

   $ 1,105      $ 1,313  

Pool #530299 7.500%
3/01/30

     277        319  

Pool #530520 7.500%
3/01/30

     11,805        13,863  

Pool #253183 7.500%
4/01/30

     3,484        4,112  

Pool #253265 7.500%
5/01/30

     2,163        2,526  

Pool #526380 8.000%
5/01/30

     6,060        7,258  

Pool #536949 8.000%
5/01/30

     1,507        1,812  

Pool #535351 8.000%
6/01/30

     3,698        4,403  

Pool #253481 8.000%
10/01/30

     2,609        3,125  

Pool #190317 8.000%
8/01/31

     1,032        1,232  

Pool #596656 8.000%
8/01/31

     941        1,015  

Pool #602008 8.000%
8/01/31

     3,541        4,219  

Federal National Mortgage Association TBA

     

Pool #6237 3.000%
6/01/44 (d)

     400,000        396,625  

Pool #1058 3.500%
2/01/44 (d)

     5,875,000        6,009,942  

Pool #11192 4.000%
3/01/43 (d)

     1,675,000        1,757,049  

Pool #20567 4.500%
10/01/40 (d)

     825,000        884,748  

Government National Mortgage Association

     

Pool #783896 3.500%
5/15/44

     829,941        863,657  

Pool #359587 7.000%
6/15/23

     187        197  

Pool #337539 7.000%
7/15/23

     611        677  

Pool #363066 7.000%
8/15/23

     9,140        10,200  

Pool #354674 7.000%
10/15/23

     5,150        5,676  

Pool #362651 7.000%
10/15/23

     6,127        6,530  

Pool #368814 7.000%
10/15/23

     1,336        1,426  

Pool #352021 7.000%
11/15/23

     2,587        2,867  
     Principal
Amount
     Value  

Government National Mortgage Association II

     

Pool #82462 2.000%
1/20/40 1 year CMT + 1.500%, FRN

   $ 93,233      $ 96,408  

Pool #82488 2.000%
3/20/40 1 year CMT + 1.500%, FRN

     126,658        130,403  

Pool #784026 3.500%
12/20/44

     232,200        240,680  

Government National Mortgage Association II TBA

     

Pool #2543 3.500%
9/01/44 (d)

     5,150,000        5,330,855  

Pool #1572 4.000%
1/01/44 (d)

     1,800,000        1,897,945  
     

 

 

 
        39,298,682  
     

 

 

 
Whole Loans — 0.0%  

Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2016-DNA1, Class M1 1 mo. USD LIBOR + 1.450%, FRN
2.432% 7/25/28

     138,860        139,478  
     

 

 

 
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES
(Cost $42,693,108)
        42,537,591  
     

 

 

 
U.S. TREASURY OBLIGATIONS — 1.4%  
U.S. Treasury Bonds & Notes — 1.4%  

U.S. Treasury Bond
2.500% 5/15/46

     2,190,000        1,961,419  

U.S. Treasury Bond (e)
3.500% 2/15/39

     1,900,000        2,091,217  

U.S. Treasury Inflation Index
0.125% 7/15/26

     1,924,510        1,877,598  

U.S. Treasury Note
1.125% 9/30/21

     1,660,000        1,606,245  

U.S. Treasury Note
2.000% 11/15/26

     1,750,000        1,690,568  
     

 

 

 
        9,227,047  
     

 

 

 
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $9,381,643)
        9,227,047  
     

 

 

 
TOTAL BONDS & NOTES
(Cost $177,535,341)
        178,572,917  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

25


MML Blend Fund – Portfolio of Investments (Continued)

 

     Notional
Amount
     Value  
PURCHASED OPTIONS — 0.1%  
Financial — 0.1%  
Diversified Financial Services — 0.1%  

3-Month USD LIBOR BBA 30 Year Swaption, Call, Expires 1/11/22, Strike 2.60 (OTC — Barclays Bank PLC); Underlying swap terminates 1/13/52

   $ 1,116,000      $ 114,085  

3-Month USD LIBOR BBA 30 Year Swaption, Put, Expires 1/11/22, Strike 2.60 (OTC — Barclays Bank PLC); Underlying swap terminates 1/13/52

     1,860,000        258,602  
     

 

 

 
        372,687  
     

 

 

 
TOTAL PURCHASED OPTIONS
(Cost $387,922)
        372,687  
     

 

 

 
     Number
of Shares
        
RIGHTS — 0.0%      
Consumer, Cyclical — 0.0%      
Retail — 0.0%      

Safeway Casa Ley Contingent
Value, (a) (f)

     18,800        18,988  

Safeway PDC LLC Contingent
Value, (a) (f)

     18,800        940  
     

 

 

 
        19,928  
     

 

 

 
TOTAL RIGHTS
(Cost $19,928)
        19,928  
     

 

 

 
TOTAL LONG-TERM INVESTMENTS
(Cost $510,625,174)
        652,624,529  
     

 

 

 
     Principal
Amount
        
SHORT-TERM INVESTMENTS — 2.9%  
Commercial Paper — 2.9%  

Bell Canada (b)
1.350% 6/28/17

   $ 1,800,000        1,794,401  

FMC Corp. (b)
1.110% 4/03/17

     1,800,000        1,799,835  

FMC Technologies, Inc. (b)
1.300% 4/11/17

     3,000,000        2,998,957  

HP, Inc. (b)
1.190% 4/17/17

     2,000,000        1,999,232  

Molex Electronic Technologies (b)
1.200% 4/11/17

     1,630,000        1,629,433  

ONEOK Partners LP (b)
1.500% 4/13/17

     1,800,000        1,799,254  

Spectra Energy Capital LLC (b)
1.320% 4/25/17

     4,000,000        3,996,647  

Sysco Corp. (b)
1.130% 4/03/17

     1,255,000        1,254,885  

WPP CP LLC (b)
1.170% 4/05/17

     1,800,000        1,799,722  
     

 

 

 
        19,072,366  
     

 

 

 
     Principal
Amount
     Value  
Repurchase Agreement — 0.0%  

State Street Bank & Trust Co. Repurchase Agreement, dated 3/31/17, 0.050%, due 4/03/17 (g)

   $ 149,001      $ 149,001  
     

 

 

 
Time Deposit — 0.0%      

Euro Time Deposit 0.090% 4/03/17

     2,919        2,919  
     

 

 

 
TOTAL SHORT-TERM INVESTMENTS
(Cost $19,223,451)
        19,224,286  
     

 

 

 
TOTAL INVESTMENTS — 102.4%
(Cost $529,848,625) (h)
        671,848,815  
Other Assets/(Liabilities) — (2.4)%         (15,999,059
     

 

 

 
NET ASSETS — 100.0%       $ 655,849,756  
     

 

 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ABS Asset-Backed Security
ARS Auction Rate Security
BAB Build America Bonds
CLO Collateralized Loan Obligation
CMO Collateralized Mortgage Obligation
CMT Constant Maturity Treasury Index
FRN Floating Rate Note
MBS Mortgage-Backed Security
MTA Monthly Treasury Average Index
PAC Planned Amortization Class
STEP Step Up Bond
TBA To Be Announced
VRN Variable Rate Note
WL Whole Loan
(a) Non-income producing security.
(b) Securities exempt from registration under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2017, these securities amounted to a value of $76,597,915 or 11.68% of net assets.
(c) Restricted security. Certain securities are restricted as to resale. At March 31, 2017, these securities amounted to a value of $82,027 or 0.01% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities.
(d) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. (Note 2).
(e) A portion of this security is pledged/held as collateral for open futures contracts and open swaps agreements. (Note 2).
(f) This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At March 31, 2017, these securities amounted to a value of $19,928 or 0.00% of net assets.
(g) Maturity value of $149,001. Collateralized by U.S. Government Agency obligations with a rate of 2.000%, maturity date of 8/31/21, and an aggregate market value, including accrued interest, of $155,924.
(h) See Note 3 for aggregate cost for federal tax purposes.
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

26


MML Dynamic Bond Fund – Portfolio of Investments

 

March 31, 2017 (Unaudited)

 

     Number of
Shares
     Value  
EQUITIES — 0.0%  
COMMON STOCK — 0.0%  
Energy — 0.0%      
Oil & Gas — 0.0%      

SandRidge Energy, Inc. (a)

     648      $ 11,981  
     

 

 

 
TOTAL COMMON STOCK
(Cost $18,804)
        11,981  
     

 

 

 
TOTAL EQUITIES
(Cost $18,804)
        11,981  
     

 

 

 
     Principal
Amount
        
BONDS & NOTES — 94.9%  
CORPORATE DEBT — 24.0%  
Advertising — 0.1%      

Omnicom Group, Inc.
3.600% 4/15/26

   $ 510,000        509,741  
     

 

 

 
Aerospace & Defense — 0.2%      

The Boeing Co.
6.875% 3/15/39

     405,000        571,798  

Lockheed Martin Corp.
4.700% 5/15/46

     440,000        476,588  
     

 

 

 
        1,048,386  
     

 

 

 
Agriculture — 0.1%      

Reynolds American, Inc.
4.000% 6/12/22

     545,000        572,015  
     

 

 

 
Airlines — 0.1%      

Avianca Holdings SA/Avianca Leasing LLC/Grupo Taca Holdings Ltd. (b)
8.375% 5/10/20

     300,000        298,050  

Delta Air Lines, Inc.
3.625% 3/15/22

     240,000        244,993  
     

 

 

 
        543,043  
     

 

 

 
Apparel — 0.0%      

Levi Strauss & Co.
5.000% 5/01/25

     50,000        51,260  
     

 

 

 
Auto Manufacturers — 0.3%      

Ford Motor Co.
7.450% 7/16/31

     425,000        536,060  

General Motors Financial Co., Inc.
2.400% 5/09/19

     475,000        476,022  

General Motors Financial Co., Inc.
3.200% 7/13/20

     325,000        330,597  

General Motors Financial Co., Inc.
3.200% 7/06/21

     135,000        135,512  
     

 

 

 
        1,478,191  
     

 

 

 
     Principal
Amount
     Value  
Auto Parts & Equipment — 0.2%      

Allison Transmission, Inc. (c)
5.000% 10/01/24

   $ 45,000      $ 45,450  

American Axle & Manufacturing Inc
6.625% 10/15/22

     120,000        123,600  

Delphi Automotive PLC
4.250% 1/15/26

     104,000        108,568  

Delphi Corp.
4.150% 3/15/24

     455,000        475,121  

The Goodyear Tire & Rubber Co.
5.125% 11/15/23

     85,000        88,613  
     

 

 

 
        841,352  
     

 

 

 
Banks — 3.6%      

Australia & New Zealand Banking Group Ltd. (c)
4.875% 1/12/21

     540,000        585,245  

Banco de Reservas de la Republica Dominicana (c)
7.000% 2/01/23

     200,000        203,132  

Banco GNB Sudameris SA (c)
6.500% 4/03/27

     200,000        199,352  

Banco Macro SA USD 5 year swap rate + 5.463%, VRN (b)
6.750% 11/04/26

     400,000        400,272  

Banco Mercantil del Norte SA 5 year CMT + 4.447%, VRN (b)
5.750% 10/04/31

     500,000        489,375  

Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand 5 year CMT + 4.580%, VRN (b)
5.950% 1/30/24

     500,000        516,250  

Bank of America Corp.
2.000% 1/11/18

     410,000        411,048  

Bank of America Corp.
2.503% 10/21/22

     425,000        414,288  

Bank of Montreal
1.900% 8/27/21

     565,000        550,345  

BBVA Bancomer SA VRN (b)
6.008% 5/17/22

     500,000        498,750  

Citigroup, Inc.
2.700% 3/30/21

     825,000        825,983  

Commonwealth Bank of Australia (c)
2.750% 3/10/22

     835,000        836,670  

Corp Group Banking SA (b)
6.750% 3/15/23

     750,000        718,740  

The Goldman Sachs Group, Inc.
2.350% 11/15/21

     340,000        332,990  

The Goldman Sachs Group, Inc.
3.000% 4/26/22

     225,000        225,551  

Industrial Senior Trust (b)
5.500% 11/01/22

     500,000        498,750  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

27


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

JP Morgan Chase & Co.
2.972% 1/15/23

   $ 555,000      $ 554,559  

JP Morgan Chase & Co.
4.250% 10/01/27

     530,000        542,997  

Morgan Stanley
2.500% 4/21/21

     155,000        154,163  

Morgan Stanley
2.625% 11/17/21

     400,000        397,364  

Morgan Stanley
3.625% 1/20/27

     560,000        555,910  

MUFG Americas Holdings Corp.
1.625% 2/09/18

     560,000        560,084  

The PNC Financial Services Group, Inc.
3.300% 3/08/22

     530,000        545,801  

Royal Bank of Canada
2.125% 3/02/20

     275,000        275,012  

Royal Bank of Canada
2.500% 1/19/21

     135,000        135,927  

State Street Corp.
2.650% 5/19/26

     375,000        359,254  

State Street Corp.
3.550% 8/18/25

     190,000        195,258  

Sumitomo Mitsui Financial Group, Inc.
2.058% 7/14/21

     385,000        374,774  

Sumitomo Mitsui Financial Group, Inc.
2.934% 3/09/21

     445,000        448,733  

The Toronto-Dominion Bank
1.800% 7/13/21

     850,000        828,240  

Wells Fargo & Co.
3.000% 4/22/26

     180,000        172,750  

Wells Fargo & Co.
3.000% 10/23/26

     555,000        531,386  

Wells Fargo & Co.
3.069% 1/24/23

     530,000        533,224  

Westpac Banking Corp.
2.000% 8/19/21

     70,000        68,339  

Westpac Banking Corp.
2.600% 11/23/20

     480,000        483,584  
     

 

 

 
        15,424,100  
     

 

 

 
Beverages — 0.3%      

Anheuser-Busch InBev Finance, Inc.
4.900% 2/01/46

     250,000        270,181  

The Coca-Cola Co.
1.550% 9/01/21

     285,000        277,975  

PepsiCo, Inc.
3.450% 10/06/46

     600,000        542,863  
     

 

 

 
        1,091,019  
     

 

 

 
Biotechnology — 0.1%      

Celgene Corp.
3.875% 8/15/25

     270,000        275,968  
     

 

 

 
     Principal
Amount
     Value  
Building Materials — 0.1%      

Builders FirstSource, Inc. (c)
5.625% 9/01/24

   $ 45,000      $ 45,675  

CIMPOR Financial Operations BV (b)
5.750% 7/17/24

     400,000        353,000  
     

 

 

 
        398,675  
     

 

 

 
Chemicals — 0.3%      

Ashland LLC STEP
4.750% 8/15/22

     60,000        62,100  

Grupo Idesa SA de CV (b)
7.875% 12/18/20

     850,000        749,062  

Hexion, Inc. (c)
10.375% 2/01/22

     85,000        84,788  

Olin Corp.
5.125% 9/15/27

     50,000        50,845  

Potash Corp. of Saskatchewan, Inc.
4.000% 12/15/26

     125,000        127,970  

PQ Corp. (c)
6.750% 11/15/22

     60,000        63,900  
     

 

 

 
        1,138,665  
     

 

 

 
Coal — 0.0%      

Foresight Energy LLC/Foresight Energy Finance Corp. (c)
11.500% 4/01/23

     15,000        14,025  

Peabody Securities Finance Corp. (c)
6.000% 3/31/22

     45,000        44,747  
     

 

 

 
        58,772  
     

 

 

 
Commercial Services — 0.2%      

ENA Norte Trust (b)
4.950% 4/25/28

     158,398        163,150  

Gartner, Inc. (c)
5.125% 4/01/25

     25,000        25,469  

Live Nation Entertainment, Inc. (c)
4.875% 11/01/24

     85,000        85,000  

Prime Security Services Borrower LLC/Prime Finance, Inc. (c)
9.250% 5/15/23

     80,000        87,700  

S&P Global, Inc.
4.400% 2/15/26

     285,000        302,473  

The ServiceMaster Co. LLC (c)
5.125% 11/15/24

     45,000        46,125  

Team Health Holdings, Inc. (c)
6.375% 2/01/25

     90,000        88,200  

United Rentals North America, Inc.
5.500% 5/15/27

     35,000        35,350  
     

 

 

 
        833,467  
     

 

 

 
Computers — 0.1%      

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (c)
7.125% 6/15/24

     90,000        99,493  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

28


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Hewlett Packard Enterprise Co. STEP
3.600% 10/15/20

   $ 405,000      $ 416,493  

Western Digital Corp. (c)
7.375% 4/01/23

     35,000        38,369  
     

 

 

 
        554,355  
     

 

 

 
Cosmetics & Personal Care — 0.0%  

Revlon Consumer Products Corp. STEP
5.750% 2/15/21

     86,000        85,892  

Revlon Consumer Products Corp.
6.250% 8/01/24

     15,000        14,963  
     

 

 

 
        100,855  
     

 

 

 
Diversified Financial Services — 1.5%  

Air Lease Corp.
3.750% 2/01/22

     585,000        602,530  

Ally Financial, Inc.
4.125% 3/30/20

     555,000        566,100  

Ally Financial, Inc.
4.250% 4/15/21

     30,000        30,600  

American Express Credit Corp.
2.250% 8/15/19

     65,000        65,512  

American Express Credit Corp.
2.250% 5/05/21

     600,000        594,631  

American Express Credit Corp.
2.700% 3/03/22

     520,000        519,376  

Bantrab Senior Trust (b)
9.000% 11/14/20

     300,000        279,000  

CK Hutchison International Ltd. (c)
3.500% 4/05/27

     600,000        598,244  

Dana Financing Luxembourg Sarl (c) (d)
5.750% 4/15/25

     55,000        55,481  

Guanay Finance Ltd. (b)
6.000% 12/15/20

     583,057        598,362  

Interoceanica IV Finance Ltd. (b)
0.000% 11/30/25

     1,070,600        872,539  

National Rural Utilities Cooperative Finance Corp.
2.000% 1/27/20

     360,000        358,667  

Nationstar Mortgage LLC/Nationstar Capital Corp.
6.500% 7/01/21

     65,000        65,813  

Navient Corp.
6.500% 6/15/22

     70,000        70,613  

Pontis IV Ltd. (c)
5.125% 3/31/27

     400,000        400,200  

SUAM Finance BV (b)
4.875% 4/17/24

     200,000        207,640  

Synchrony Financial
3.000% 8/15/19

     555,000        563,657  
     

 

 

 
        6,448,965  
     

 

 

 
Electric — 3.2%  

Abengoa Transmision Sur SA (b)
6.875% 4/30/43

     299,370        320,326  
     Principal
Amount
     Value  

AES Andres BV/Dominican Power Partners/Empresa Generadora de Electricidad It (c)
7.950% 5/11/26

   $ 500,000      $ 535,810  

AES Gener SA (b)
5.000% 7/14/25

     400,000        405,932  

American Electric Power Co., Inc.
2.950% 12/15/22

     313,000        314,591  

Berkshire Hathaway Energy Co.
6.500% 9/15/37

     594,000        772,720  

Calpine Corp.
5.750% 1/15/25

     45,000        44,719  

Comision Federal de Electricidad (b)
4.750% 2/23/27

     600,000        601,500  

DTE Energy Co.
3.800% 3/15/27

     500,000        507,047  

Duke Energy Corp.
3.750% 9/01/46

     215,000        193,020  

Duke Energy Florida LLC
3.200% 1/15/27

     1,000,000        1,006,383  

Duke Energy Progress, Inc.
4.150% 12/01/44

     470,000        477,272  

Empresa Electrica Guacolda SA (b)
4.560% 4/30/25

     400,000        385,962  

Engie Energia Chile SA (b)
4.500% 1/29/25

     335,000        342,205  

Eversource Energy
2.750% 3/15/22

     1,000,000        1,002,703  

Exelon Corp.
3.400% 4/15/26

     1,040,000        1,022,867  

Fortis, Inc. (c)
2.100% 10/04/21

     565,000        547,450  

Great Plains Energy, Inc.
3.900% 4/01/27

     1,000,000        1,009,735  

Israel Electric Corp. Ltd. (b) (c)
5.000% 11/12/24

     900,000        945,450  

NRG Energy, Inc.
7.250% 5/15/26

     85,000        87,550  

Pampa Energia SA (c)
7.500% 1/24/27

     350,000        354,462  

Sierra Pacific Power Co.
2.600% 5/01/26

     1,000,000        958,335  

The Southern Co.
2.450% 9/01/18

     820,000        826,881  

Xcel Energy, Inc.
3.300% 6/01/25

     1,000,000        1,001,521  
     

 

 

 
        13,664,441  
     

 

 

 
Engineering & Construction — 0.6%  

AECOM (c)
5.125% 3/15/27

     65,000        65,163  

Aeropuerto Internacional de Tocumen SA
5.750% 10/09/23

     796,308        850,058  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

29


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Aeropuertos Argentina SA (c)
6.875% 2/01/27

   $ 150,000      $ 154,875  

Mexico City Airport Trust (c)
4.250% 10/31/26

     700,000        709,625  

Sydney Airport Finance Co. Pty Ltd. (c)
3.375% 4/30/25

     300,000        294,016  

Sydney Airport Finance Co. Pty Ltd. (c)
3.625% 4/28/26

     300,000        298,615  
     

 

 

 
        2,372,352  
     

 

 

 
Entertainment — 0.2%  

AMC Entertainment Holdings, Inc. (c)
5.875% 11/15/26

     40,000        40,450  

AMC Entertainment Holdings, Inc. (c)
6.125% 5/15/27

     40,000        40,350  

GLP Capital LP/GLP Financing II, Inc.
5.375% 4/15/26

     40,000        41,300  

Pinnacle Entertainment, Inc. (c)
5.625% 5/01/24

     85,000        86,063  

Scientific Games International, Inc. (c)
7.000% 1/01/22

     60,000        64,050  

Six Flags Entertainment Corp. (c) (d)
4.875% 7/31/24

     125,000        123,750  

Six Flags Entertainment Corp. (c) (d)
5.500% 4/15/27

     130,000        129,675  

WMG Acquisition Corp. (c)
6.750% 4/15/22

     105,000        110,381  
     

 

 

 
        636,019  
     

 

 

 
Environmental Controls — 0.1%      

Waste Management, Inc.
4.100% 3/01/45

     410,000        410,355  
     

 

 

 
Food Services — 0.0%      

Aramark Services, Inc. (c)
5.000% 4/01/25

     65,000        66,950  
     

 

 

 
Foods — 1.1%      

Albertsons Cos. LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s LLC (c)
5.750% 3/15/25

     115,000        111,550  

B&G Foods, Inc.
5.250% 4/01/25

     105,000        105,919  

Cencosud SA (b)
5.150% 2/12/25

     600,000        624,799  

Cosan Overseas Ltd. (b)
8.250% 11/29/49

     700,000        701,750  

JBS USA LLC/JBS USA Finance, Inc. (c)
5.750% 6/15/25

     65,000        65,650  

Kraft Heinz Foods Co.
1.600% 6/30/17

     315,000        315,096  

Kraft Heinz Foods Co.
2.000% 7/02/18

     235,000        235,584  

The Kroger Co.
3.400% 4/15/22

     670,000        684,590  
     Principal
Amount
     Value  

MARB BondCo PLC (c)
7.000% 3/15/24

   $ 300,000      $ 297,750  

Marfrig Holdings Europe BV (c)
8.000% 6/08/23

     200,000        208,960  

Minerva Luxembourg SA 5 year CMT + 7.046%, VRN (b)
8.750% 12/29/49

     300,000        313,500  

Pilgrim’s Pride Corp. (c)
5.750% 3/15/25

     85,000        85,637  

Post Holdings, Inc. (c)
5.500% 3/01/25

     45,000        45,225  

Smithfield Foods, Inc. (c)
4.250% 2/01/27

     550,000        556,468  

TreeHouse Foods, Inc. (c)
6.000% 2/15/24

     40,000        41,900  

Tyson Foods, Inc.
3.950% 8/15/24

     535,000        545,576  
     

 

 

 
        4,939,954  
     

 

 

 
Forest Products & Paper — 0.4%      

Georgia-Pacific LLC (c)
3.600% 3/01/25

     1,125,000        1,149,014  

International Paper Co.
3.000% 2/15/27

     270,000        252,423  

Inversiones CMPC SA (c)
4.375% 4/04/27

     400,000        398,459  
     

 

 

 
        1,799,896  
     

 

 

 
Gas — 0.4%      

National Gas Co., of Trinidad & Tobago Ltd. (b)
6.050% 1/15/36

     800,000        828,000  

NGL Energy Partners LP/NGL Energy Finance Corp. (c)
6.125% 3/01/25

     70,000        67,900  

NGL Energy Partners LP/NGL Energy Finance Corp. (c)
7.500% 11/01/23

     40,000        41,300  

Transportadora de Gas del Peru SA (b)
4.250% 4/30/28

     800,000        806,000  
     

 

 

 
        1,743,200  
     

 

 

 
Health Care – Products — 0.3%      

DJO Finco, Inc./DJO Finance LLC/DJO Finance Corp. (c)
8.125% 6/15/21

     25,000        21,812  

Thermo Fisher Scientific, Inc.
3.300% 2/15/22

     805,000        820,813  

Universal Hospital Services, Inc.
7.625% 8/15/20

     65,000        64,675  

Zimmer Biomet Holdings, Inc.
1.450% 4/01/17

     565,000        565,000  
     

 

 

 
        1,472,300  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

30


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
Health Care – Services — 0.6%      

Acadia Healthcare Co., Inc.
5.625% 2/15/23

   $ 85,000      $ 88,028  

Air Medical Group Holdings, Inc. (c)
6.375% 5/15/23

     135,000        130,612  

Anthem, Inc.
2.300% 7/15/18

     550,000        552,446  

Centene Corp.
4.750% 1/15/25

     95,000        95,535  

Centene Corp.
5.625% 2/15/21

     45,000        47,097  

CHS/Community Health Systems, Inc.
6.250% 3/31/23

     55,000        55,963  

CHS/Community Health Systems, Inc.
8.000% 11/15/19

     45,000        44,156  

Envision Healthcare Corp. (c)
6.250% 12/01/24

     105,000        110,250  

Laboratory Corp. of America Holdings
2.500% 11/01/18

     545,000        549,743  

LifePoint Health, Inc. (c)
5.375% 5/01/24

     45,000        45,765  

MPH Acquisition Holdings LLC (c)
7.125% 6/01/24

     150,000        161,269  

RegionalCare Hospital Partners Holdings, Inc. (c)
8.250% 5/01/23

     40,000        42,680  

Select Medical Corp.
6.375% 6/01/21

     85,000        85,850  

Tenet Healthcare Corp.
6.750% 6/15/23

     90,000        88,425  

UnitedHealth Group, Inc.
4.200% 1/15/47

     545,000        553,415  

WellCare Health Plans, Inc.
5.250% 4/01/25

     70,000        71,631  
     

 

 

 
        2,722,865  
     

 

 

 
Home Furnishing — 0.0%  

Tempur Sealy International, Inc.
5.625% 10/15/23

     45,000        45,225  
     

 

 

 
Household Products & Wares — 0.0%  

Kronos Acquisition Holdings, Inc. (c)
9.000% 8/15/23

     20,000        20,350  

Spectrum Brands, Inc.
5.750% 7/15/25

     65,000        68,738  
     

 

 

 
        89,088  
     

 

 

 
Housewares — 0.0%      

Newell Brands, Inc.
3.150% 4/01/21

     135,000        137,908  
     

 

 

 
Insurance — 0.4%  

Liberty Mutual Group, Inc. (c)
6.500% 5/01/42

     730,000        908,829  

New York Life Global Funding (c)
2.900% 1/17/24

     355,000        355,977  
     Principal
Amount
     Value  

TIAA Asset Management Finance Co. LLC (c)
2.950% 11/01/19

   $ 540,000      $ 548,887  
     

 

 

 
        1,813,693  
     

 

 

 
Investment Companies — 0.1%      

GrupoSura Finance SA (b)
5.500% 4/29/26

     300,000        316,500  
     

 

 

 
Iron & Steel — 0.1%      

Cliffs Natural Resources, Inc. (c)
5.750% 3/01/25

     15,000        14,550  

Signode Industrial Group Lux SA/Signode Industrial Group US, Inc. (c)
6.375% 5/01/22

     85,000        87,178  

Vale Overseas Ltd.
5.875% 6/10/21

     380,000        407,215  
     

 

 

 
        508,943  
     

 

 

 
Leisure Time — 0.1%      

NCL Corp. Ltd. (c)
4.750% 12/15/21

     90,000        91,350  

Sabre GLBL, Inc. (c)
5.250% 11/15/23

     85,000        86,913  

Viking Cruises Ltd. (c)
8.500% 10/15/22

     125,000        129,687  
     

 

 

 
        307,950  
     

 

 

 
Lodging — 0.2%      

Gohl Capital Ltd. (b)
4.250% 1/24/27

     600,000        606,002  

Hilton Domestic Operating Co., Inc. (c)
4.250% 9/01/24

     165,000        162,937  

Jack Ohio Finance LLC/Jack Ohio Finance Corp. (c)
6.750% 11/15/21

     85,000        87,975  

Station Casinos LLC
7.500% 3/01/21

     80,000        83,200  
     

 

 

 
        940,114  
     

 

 

 
Machinery – Construction & Mining — 0.0%  

BlueLine Rental Finance Corp./BlueLine Rental LLC (c)
9.250% 3/15/24

     45,000        46,069  
     

 

 

 
Machinery – Diversified — 0.1%      

John Deere Capital Corp.
2.650% 1/06/22

     250,000        250,903  
     

 

 

 
Media — 0.6%      

CCO Holdings LLC/CCO Holdings Capital Corp. (c)
5.125% 5/01/23

     30,000        30,900  

CCO Holdings LLC/CCO Holdings Capital Corp. (c)
5.125% 5/01/27

     10,000        10,050  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

31


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

CCO Holdings LLC/CCO Holdings Capital Corp.
5.250% 9/30/22

   $ 20,000      $ 20,750  

Cengage Learning, Inc. (c)
9.500% 6/15/24

     80,000        71,600  

Cequel Communications Holdings I LLC/Cequel Capital Corp. (c)
6.375% 9/15/20

     125,000        128,750  

Charter Communications Operating LLC/Charter Communications Operating Capital
4.908% 7/23/25

     520,000        549,467  

Comcast Corp.
4.400% 8/15/35

     525,000        544,173  

CSC Holdings LLC
5.250% 6/01/24

     45,000        44,831  

Gray Television, Inc. (c)
5.125% 10/15/24

     45,000        44,437  

Gray Television, Inc. (c)
5.875% 7/15/26

     70,000        71,225  

Nexstar Broadcasting, Inc. (c)
5.625% 8/01/24

     65,000        65,975  

Sinclair Television Group, Inc. (c)
5.625% 8/01/24

     25,000        25,313  

Sirius XM Radio, Inc. (c)
5.375% 7/15/26

     90,000        92,025  

TEGNA, Inc. (c)
4.875% 9/15/21

     130,000        131,950  

TV Azteca SAB de CV (b)
7.500% 5/25/18

     550,000        547,250  

Videotron Ltd./Videotron Ltee (c) (d)
5.125% 4/15/27

     25,000        25,219  
     

 

 

 
        2,403,915  
     

 

 

 
Metal Fabricate & Hardware — 0.0%  

Grinding Media, Inc./MC Grinding Media Canada, Inc. (c)
7.375% 12/15/23

     40,000        42,000  

Novelis Corp. (c)
5.875% 9/30/26

     25,000        25,531  

Novelis Corp. (c)
6.250% 8/15/24

     60,000        62,550  
     

 

 

 
        130,081  
     

 

 

 
Miscellaneous – Manufacturing — 0.0%  

Gates Global LLC/Gates Global Co. (c)
6.000% 7/15/22

     90,000        91,575  
     

 

 

 
Oil & Gas — 1.9%  

Apache Corp.
4.750% 4/15/43

     265,000        264,531  

Bharat Petroleum Corp. Ltd. (b)
4.625% 10/25/22

     200,000        212,860  

BP Capital Markets PLC
3.588% 4/14/27

     48,000        48,323  
     Principal
Amount
     Value  

BP Capital Markets PLC
3.723% 11/28/28

   $ 440,000      $ 445,262  

BPRL International Singapore Pte Ltd. (b)
4.375% 1/18/27

     500,000        509,164  

Chevron Corp.
1.365% 3/02/18

     353,000        352,796  

Chevron Corp.
1.561% 5/16/19

     95,000        94,687  

Chevron Corp.
2.498% 3/03/22

     175,000        175,348  

CNOOC Finance Ltd. (b)
4.250% 1/26/21

     200,000        209,503  

CNOOC Finance USA LLC
3.500% 5/05/25

     600,000        593,795  

Delek & Avner Tamar Bond Ltd. (c)
4.435% 12/30/20

     200,000        207,000  

EP Energy LLC/Everest Acquisition Finance, Inc.
9.375% 5/01/20

     15,000        14,141  

Extraction Oil & Gas Holdings LLC/Extraction Finance Corp. (c)
7.875% 7/15/21

     40,000        42,200  

Halcon Resources Corp. (c)
6.750% 2/15/25

     25,000        24,550  

MEG Energy Corp. (c)
7.000% 3/31/24

     20,000        17,900  

Memorial Production Partners LP/Memorial Production Finance Corp. (e)
6.875% 8/01/22

     150,000        54,000  

Noble Holding International Ltd.
7.750% 1/15/24

     25,000        24,000  

Occidental Petroleum Corp.
3.400% 4/15/26

     95,000        94,817  

ONGC Videsh Vankorneft Pte Ltd. (b)
3.750% 7/27/26

     650,000        637,109  

PDC Energy, Inc. (c)
6.125% 9/15/24

     30,000        30,750  

Pertamina Persero PT (b)
5.625% 5/20/43

     400,000        410,808  

Petrobras Global Finance BV
7.250% 3/17/44

     650,000        641,875  

Petrobras Global Finance BV
7.375% 1/17/27

     200,000        211,440  

Petroleos Mexicanos
6.750% 9/21/47

     290,000        294,176  

Petronas Capital Ltd. (b)
3.500% 3/18/25

     800,000        812,769  

Phillips 66
5.875% 5/01/42

     235,000        268,956  

Sanchez Energy Corp.
6.125% 1/15/23

     50,000        46,375  

Shell International Finance BV
1.375% 5/10/19

     500,000        495,566  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

32


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Sinopec Group Overseas Development Ltd. (b)
2.750% 9/29/26

   $ 900,000      $ 834,777  

SM Energy Co.
5.000% 1/15/24

     50,000        47,250  
     

 

 

 
        8,116,728  
     

 

 

 
Oil & Gas Services — 0.1%  

FTS International, Inc.
6.250% 5/01/22

     22,000        19,250  

Schlumberger Holding Corp. (c)
2.350% 12/21/18

     270,000        271,788  
     

 

 

 
        291,038  
     

 

 

 
Packaging & Containers — 0.1%  

Berry Plastics Corp.
5.500% 5/15/22

     90,000        93,488  

BWAY Holding Co. (c) (d)
5.500% 4/15/24

     80,000        80,650  

Flex Acquisition Co., Inc. (c)
6.875% 1/15/25

     65,000        66,404  

Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu (c)
7.000% 7/15/24

     55,000        58,884  
     

 

 

 
        299,426  
     

 

 

 
Pharmaceuticals — 1.0%  

AbbVie, Inc.
4.700% 5/14/45

     550,000        548,543  

Actavis Funding SCS
2.350% 3/12/18

     551,000        553,402  

AstraZeneca PLC
2.375% 11/16/20

     275,000        275,390  

Cardinal Health, Inc.
1.950% 6/15/18

     555,000        556,699  

Express Scripts Holding Co.
3.400% 3/01/27

     135,000        127,140  

Express Scripts Holding Co.
4.500% 2/25/26

     285,000        292,340  

inVentiv Group Holdings, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc. (c)
7.500% 10/01/24

     85,000        87,444  

Mylan NV
3.150% 6/15/21

     605,000        607,225  

Shire Acquisitions Investments Ireland DAC
2.875% 9/23/23

     580,000        562,787  

Teva Pharmaceutical Finance Co. BV
2.950% 12/18/22

     485,000        473,604  

Teva Pharmaceutical Finance Netherlands III BV
2.800% 7/21/23

     245,000        232,703  
     Principal
Amount
     Value  

Valeant Pharmaceuticals International, Inc. (c)
7.000% 3/15/24

   $ 45,000      $ 46,181  

Vizient, Inc. (c)
10.375% 3/01/24

     80,000        91,300  
     

 

 

 
        4,454,758  
     

 

 

 
Pipelines — 0.7%  

Enable Midstream Partners LP
4.400% 3/15/27

     565,000        560,782  

Energy Transfer Equity LP
5.500% 6/01/27

     65,000        67,925  

Energy Transfer Partners LP
4.200% 4/15/27

     70,000        69,159  

Energy Transfer Partners LP
4.750% 1/15/26

     470,000        484,152  

Fermaca Enterprises S de RL de CV (c)
6.375% 3/30/38

     235,504        241,391  

GNL Quintero SA (b)
4.634% 7/31/29

     200,000        204,500  

Kinder Morgan Energy Partners LP
6.950% 1/15/38

     470,000        545,331  

Sunoco Logistics Partners Operations LP
3.900% 7/15/26

     750,000        724,647  

Targa Resources Partners LP/Targa Resources Partners Finance Corp. (c)
5.375% 2/01/27

     50,000        51,750  

Williams Partners LP/ACMP Finance Corp.
4.875% 3/15/24

     85,000        87,436  
     

 

 

 
        3,037,073  
     

 

 

 
Private Equity — 0.0%  

Icahn Enterprises LP/Icahn Enterprises Finance Corp. (c)
6.250% 2/01/22

     65,000        65,975  
     

 

 

 
Real Estate Investment Trusts (REITS) — 0.8%  

American Tower Corp.
4.400% 2/15/26

     950,000        982,751  

Boston Properties LP
4.125% 5/15/21

     520,000        546,797  

Crown Castle International Corp
3.700% 6/15/26

     700,000        686,942  

Crown Castle International Corp.
4.000% 3/01/27

     225,000        226,409  

CyrusOne LP/CyrusOne Finance Corp. (c)
5.000% 3/15/24

     30,000        30,825  

Equinix, Inc.
5.875% 1/15/26

     80,000        85,100  

ESH Hospitality, Inc. (c)
5.250% 5/01/25

     90,000        90,731  

MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.
5.625% 5/01/24

     25,000        26,375  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

33


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Simon Property Group LP
3.300% 1/15/26

   $ 560,000      $ 552,149  
     

 

 

 
        3,228,079  
     

 

 

 
Retail — 0.2%  

Asbury Automotive Group, Inc.
6.000% 12/15/24

     65,000        67,112  

The Home Depot, Inc.
3.000% 4/01/26

     380,000        379,337  

The Home Depot, Inc.
3.350% 9/15/25

     165,000        169,692  

PetSmart, Inc. (c)
7.125% 3/15/23

     145,000        137,750  

Rite Aid Corp. (c)
6.125% 4/01/23

     85,000        84,256  

Sally Holdings LLC/Sally Capital, Inc.
5.750% 6/01/22

     125,000        128,594  
     

 

 

 
        966,741  
     

 

 

 
Semiconductors — 0.3%  

Analog Devices, Inc.
2.500% 12/05/21

     560,000        554,633  

Applied Materials, Inc.
4.350% 4/01/47

     280,000        283,465  

Broadcom Corp./Broadcom Cayman Finance Ltd. (c)
3.625% 1/15/24

     250,000        251,843  

Micron Technology, Inc. (c)
5.250% 8/01/23

     65,000        66,625  
     

 

 

 
        1,156,566  
     

 

 

 
Software — 0.6%  

Camelot Finance SA (c)
7.875% 10/15/24

     60,000        63,150  

Fidelity National Information Services, Inc.
3.625% 10/15/20

     420,000        436,451  

First Data Corp. (c)
5.750% 1/15/24

     60,000        61,890  

First Data Corp. (c)
7.000% 12/01/23

     60,000        64,350  

Genesys Telecommunications Laboratories, Inc./Greeneden Lux 3 Sarl/Greeneden US Ho (c)
10.000% 11/30/24

     95,000        103,312  

Infor US, Inc.
6.500% 5/15/22

     85,000        87,346  

Informatica LLC (c)
7.125% 7/15/23

     110,000        106,975  

Microsoft Corp.
4.450% 11/03/45

     520,000        548,809  

Open Text Corp. (c)
5.875% 6/01/26

     100,000        104,750  

Oracle Corp.
1.900% 9/15/21

     485,000        476,571  
     Principal
Amount
     Value  

Oracle Corp.
4.125% 5/15/45

   $ 445,000      $ 432,524  

Quintiles IMS, Inc. (c)
4.875% 5/15/23

     85,000        86,169  

Solera LLC/ Solera Finance, Inc. (c)
10.500% 3/01/24

     60,000        68,550  

Sophia LP/Sophia Finance, Inc. (c)
9.000% 9/30/23

     125,000        131,250  
     

 

 

 
        2,772,097  
     

 

 

 
Telecommunications — 1.4%  

AT&T, Inc.
3.800% 3/01/24

     550,000        558,453  

Bharti Airtel Ltd. (b)
4.375% 6/10/25

     500,000        499,640  

British Telecommunications PLC
5.950% 1/15/18

     1,025,000        1,058,704  

Cincinnati Bell, Inc. (c)
7.000% 7/15/24

     85,000        89,144  

Cisco Systems, Inc.
1.850% 9/20/21

     510,000        500,156  

CommScope, Inc. (c)
5.000% 6/15/21

     85,000        87,338  

Digicel Group Ltd. (b)
7.125% 4/01/22

     700,000        544,250  

Embarq Corp.
7.995% 6/01/36

     75,000        74,625  

Empresa Nacional de Telecomunicaciones SA (b)
4.750% 8/01/26

     400,000        409,894  

Empresa Nacional de Telecomunicaciones SA (b)
4.875% 10/30/24

     200,000        206,726  

Frontier Communications Corp.
8.500% 4/15/20

     65,000        68,575  

Intelsat Jackson Holdings SA
5.500% 8/01/23

     70,000        57,750  

Intelsat Jackson Holdings SA (c)
8.000% 2/15/24

     40,000        42,400  

Level 3 Communications, Inc.
5.750% 12/01/22

     155,000        160,425  

Ooredoo International Finance Ltd. (b)
3.875% 1/31/28

     600,000        589,200  

Orange SA
2.750% 2/06/19

     564,000        570,615  

Telesat Canada/Telesat LLC (c)
8.875% 11/15/24

     65,000        71,175  

Verizon Communications, Inc.
4.400% 11/01/34

     565,000        534,655  
     

 

 

 
        6,123,725  
     

 

 

 
Textiles — 0.1%  

Cintas Corp. No 2
3.700% 4/01/27

     190,000        194,146  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

34


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
Transportation — 0.9%  

Autoridad del Canal de Panama (b)
4.950% 7/29/35

   $ 200,000      $ 218,500  

Burlington Northern Santa Fe LLC
4.550% 9/01/44

     505,000        532,567  

CSX Corp.
3.800% 11/01/46

     600,000        547,351  

Empresa de Transporte de Pasajeros Metro SA (c)
5.000% 1/25/47

     750,000        784,987  

FedEx Corp.
4.750% 11/15/45

     525,000        537,683  

The Kenan Advantage Group, Inc. (c)
7.875% 7/31/23

     45,000        46,013  

Lima Metro Line 2 Finance Ltd. (b)
5.875% 7/05/34

     750,000        796,875  

Union Pacific Corp.
3.000% 4/15/27

     250,000        247,204  
     

 

 

 
        3,711,180  
     

 

 

 
Trucking & Leasing — 0.1%  

Penske Truck Leasing Co. LP/PTL Finance Corp. (c)
4.200% 4/01/27

     275,000        279,997  
     

 

 

 
Water — 0.1%  

American Water Capital Corp.
3.400% 3/01/25

     500,000        512,951  
     

 

 

 
TOTAL CORPORATE DEBT
(Cost $103,116,844)
        103,489,605  
     

 

 

 
MUNICIPAL OBLIGATIONS — 0.3%  

City of Houston TX Combined Utility System Revenue
5.000% 11/15/35

     390,000        446,632  

Los Angeles County Metropolitan Transportation Authority
5.000% 6/01/33

     105,000        123,168  

Massachusetts School Building Authority
5.000% 11/15/34

     270,000        312,835  

North Texas Municipal Water District Water System Revenue
5.000% 9/01/35

     280,000        322,367  

State of California
5.000% 8/01/33

     90,000        102,396  
     

 

 

 
        1,307,398  
     

 

 

 
TOTAL MUNICIPAL OBLIGATIONS
(Cost $1,299,372)
        1,307,398  
     

 

 

 
     Principal
Amount
     Value  
NON-U.S. GOVERNMENT AGENCY
OBLIGATIONS — 28.7%
 
Commercial MBS — 8.3%      

BBCMS Mortgage Trust, Series 2017-C1, Class XA, VRN
1.531% 2/15/50

   $ 4,604,973      $ 510,341  

BXHTL Mortgage Trust, Series 2015-JWRZ, 1 mo. LIBOR + 1.230%, FRN (c)
2.142% 5/15/29

     700,000        702,156  

CFCRE Commercial Mortgage Trust, Series 2016-C3, Class XA, VRN
1.087% 1/10/48

     5,825,585        423,741  

CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A3
3.839% 12/10/54

     545,000        561,054  

Citigroup Commercial Mortgage Trust, Series 2015-GC35, Class XA, VRN
0.900% 11/10/48

     5,338,716        280,200  

Citigroup Commercial Mortgage Trust, Series 2016-P4, Class XA, VRN
2.015% 7/10/49

     3,767,311        504,478  

Citigroup Commercial Mortgage Trust, Series 2016-P4, Class A4
2.902% 7/10/49

     547,000        529,443  

Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5
3.137% 2/10/48

     276,000        275,096  

Citigroup Commercial Mortgage Trust, Series 2016-SMPL, Class D, VRN (c)
3.520% 9/10/31

     534,000        529,450  

Citigroup Commercial Mortgage Trust, Series 2016-P6, Class A5, VRN
3.720% 12/10/49

     435,000        449,344  

Citigroup Commercial Mortgage Trust, Series 2015-GC31, Class C, VRN
4.064% 6/10/48

     700,000        639,234  

Citigroup Commercial Mortgage Trust, Series 2015-GC35, Class C, VRN
4.501% 11/10/48

     413,000        410,255  

COMM Mortgage Trust, Series 2016-DC2, Class XA, VRN
1.074% 2/10/49

     992,527        67,913  

COMM Mortgage Trust, Series 2016-GCT, Class E, VRN (c)
3.461% 8/10/29

     210,000        202,210  

COMM Mortgage Trust, Series 2015-CR22, Class D, VRN (c)
4.126% 3/10/48

     650,000        531,228  

COMM Mortgage Trust, Series 2012-CR4, Class D, VRN (c)
4.571% 10/15/45

     738,000        694,430  

COMM Mortgage Trust, Series 2015-LC23, Class C, VRN
4.646% 10/10/48

     470,000        458,012  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

35


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Commercial Mortgage Trust, Series 2016-CR28, Class C, VRN
4.647% 2/10/49

   $ 517,000      $ 508,800  

Commercial Mortgage Trust, Series 2007-GG11, Class AM, VRN
5.867% 12/10/49

     650,000        661,919  

Cosmopolitan Hotel Trust, Series 2016-CSMO, Class C, 1 mo. LIBOR + 2.650%, FRN (c)
3.562% 11/15/33

     370,000        374,598  

Credit Suisse Commercial Mortgage Trust, Series 2007-C4, Class A1AM, VRN
5.958% 9/15/39

     800,000        808,445  

Credit Suisse Commercial Mortgage Trust, Series 2008-C1, Class AM, VRN (c)
6.062% 2/15/41

     700,000        713,990  

CSAIL Commercial Mortgage Trust, Series 2015-C1, Class XA, VRN
0.955% 4/15/50

     9,266,911        501,884  

CSAIL Commercial Mortgage Trust, Series 2015-C4, Class C, VRN
4.585% 11/15/48

     427,000        423,551  

GS Mortgage Securities Corp. II, Series 2013-GC10, Class XA, VRN
1.591% 2/10/46

     5,603,263        392,358  

GS Mortgage Securities Trust, Series 2015-GS1, Class XA, VRN
0.834% 11/10/48

     8,182,477        465,991  

GS Mortgage Securities Trust, Series 2014-GC20, Class XA, VRN
1.148% 4/10/47

     7,000,604        383,490  

GS Mortgage Securities Trust, Series 2014-GC26, Class D, VRN (c)
4.511% 11/10/47

     940,000        778,528  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2015-JP1, Class XA, VRN
1.148% 1/15/49

     5,398,238        318,165  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class XA, VRN
1.864% 8/15/49

     3,225,255        425,014  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class B, VRN
3.460% 8/15/49

     174,000        170,940  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class C, VRN
3.795% 8/15/49

     134,000        129,827  
     Principal
Amount
     Value  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2007-LDPX, Class AM, VRN
5.464% 1/15/49

   $ 1,045,752      $ 1,045,426  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2007-LD12, Class AM, VRN
6.066% 2/15/51

     540,000        545,781  

JP Morgan Chase Commercial Mortgage Securities Trust, Series 2007-CB20, Class AJ, VRN
6.178% 2/12/51

     510,000        519,495  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C30, Class XA, VRN
0.700% 7/15/48

     11,089,823        398,832  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C29, Class XA, VRN
0.943% 5/15/48

     12,310,378        488,337  

JPMBB Commercial Mortgage Securities Trust, Series 2014-C25, Class XA, VRN
0.994% 11/15/47

     5,178,928        274,812  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C28, Class XA, VRN
1.192% 10/15/48

     8,900,523        529,691  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C27, Class D, VRN (c)
3.845% 2/15/48

     704,000        559,119  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C30, Class B, VRN
4.310% 7/15/48

     610,000        595,562  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C33, Class C, VRN
4.619% 12/15/48

     527,000        526,390  

JPMBB Commercial Mortgage Securities Trust, Series 2015-C32, Class C, VRN
4.669% 11/15/48

     100,000        94,423  

JPMBB Commercial Mortgage Securities Trust, Series 2016-C1, Class C, VRN
4.747% 3/15/49

     466,000        478,931  

LB-UBS Commercial Mortgage Trust, Series 2007-C2, Class AM, VRN
5.493% 2/15/40

     368,538        368,593  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

36


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class D (c)
3.060% 10/15/48

   $ 650,000      $ 493,014  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class D, VRN (c)
3.237% 12/15/47

     504,000        334,354  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class A4
3.249% 2/15/48

     175,000        175,904  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A4
3.720% 12/15/49

     454,000        469,855  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class C
4.000% 12/15/47

     650,000        605,260  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C23, Class C, VRN
4.135% 7/15/50

     650,000        616,392  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class C, VRN
4.536% 12/15/47

     351,000        327,406  

Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C29, Class C, VRN
4.753% 5/15/49

     475,000        470,787  

Morgan Stanley Capital I, Series 2007-HQ11, Class AJ, VRN
5.508% 2/12/44

     258,994        259,006  

Morgan Stanley Capital I Trust, Series 2015-UBS8, Class XA, VRN
0.971% 12/15/48

     6,630,743        419,912  

Morgan Stanley Capital I Trust, Series 2016-UB11, Class XA, VRN
1.679% 8/15/49

     1,605,117        169,958  

Morgan Stanley Capital I Trust, Series 2015-XLF2, Class AFSC, 1 mo. LIBOR + 3.000%, FRN (c)
3.912% 8/15/26

     478,000        477,514  

Morgan Stanley Capital I Trust, Series 2017-PRME, Class D, 1 mo. LIBOR + 3.400%, FRN (c)
4.170% 2/15/34

     425,000        423,936  

MSCG Trust, Series 2016-SNR, Class C (c)
5.205% 11/15/34

     539,000        539,984  

PFP Ltd., Series 2017-3, Class A, 1 mo. LIBOR + 1.050%, FRN (c)
1.829% 1/14/35

     197,000        197,471  
     Principal
Amount
     Value  

PFP Ltd., Series 2017-3, Class AS, 1 mo. LIBOR + 1.300%, FRN (c)
2.079% 1/14/35

   $ 164,000      $ 164,410  

PFP Ltd., Series 2017-3, Class B, 1 mo. LIBOR + 1.750%, FRN (c)
2.529% 1/14/35

     94,000        94,263  

PFP Ltd., Series 2017-3, Class C, 1 mo. LIBOR + 2.500%, FRN (c)
3.279% 1/14/35

     99,000        99,326  

SG Commercial Mortgage Securities Trust, Series 2016-C5, Class XA, VRN
2.029% 10/10/48

     3,977,285        518,943  

Sutherland Commercial Mortgage Loans LLC, Series 2015-SBC4, Class A (c)
4.000% 6/25/39

     338,721        336,372  

THL Credit Wind River CLO Ltd., Series 2012-1A, Class DR, 3 mo. USD LIBOR + 4.100%, FRN (c)
5.122% 1/15/26

     1,000,000        1,010,285  

Wachovia Bank Commercial Mortgage Trust Series, Series 2007-C30, Class AJ, VRN
5.413% 12/15/43

     525,884        528,159  

Wachovia Bank Commercial Mortgage Trust Series, Series 2006-C28, Class AJ, VRN
5.632% 10/15/48

     806,901        803,985  

Wachovia Bank Commercial Mortgage Trust Series, Series 2007-C32, Class AMFX (c)
5.703% 6/15/49

     415,000        418,227  

Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class XA, VRN
0.790% 7/15/58

     12,849,466        550,887  

Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class XA, VRN
1.027% 12/15/48

     5,492,034        343,872  

Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class XA, VRN
1.108% 11/15/48

     6,729,057        469,780  

Wells Fargo Commercial Mortgage Trust, Series 2016-NXS6, Class XA, VRN
1.661% 11/15/49

     2,406,106        255,413  

Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4
3.809% 12/15/48

     392,000        408,233  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

37


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class D (c)
3.938% 8/15/50

   $ 560,000      $ 465,135  

Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, VRN
4.541% 9/15/58

     390,000        392,415  

Wells Fargo Commercial Mortgage Trust, Series 2015-NXS4, Class C, VRN
4.602% 12/15/48

     421,000        430,074  

Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class C, VRN
4.611% 11/15/48

     468,000        472,486  

WFRBS Commercial Mortgage Trust, Series 2014-C21, Class XA, VRN
1.151% 8/15/47

     12,749,871        738,865  
     

 

 

 
        35,733,360  
     

 

 

 
Home Equity ABS — 0.9%  

GSAA Home Equity Trust, Series 2007-10, Class A2A
6.500% 11/25/37

     5,343,980        3,864,104  
     

 

 

 
Other ABS — 9.0%  

Adams Mill CLO Ltd., Series 2014-1A, Class A1, 3 mo. USD LIBOR + 1.480%, FRN (c)
2.503% 7/15/26

     500,000        501,844  

ALM VII R Ltd., Series 2013-7RA, Class CR, 3 mo. USD LIBOR + 4.040%, FRN (c)
5.062% 10/15/28

     1,000,000        1,013,867  

ALM XIX LLC, Series 2016-19A, Class B, 3 mo. USD LIBOR + 3.000%, FRN (c)
4.023% 7/15/28

     500,000        505,291  

ALM XIX LLC, Series 2016-19A, Class C, 3 mo. USD LIBOR + 4.350%, FRN (c)
5.373% 7/15/28

     500,000        509,090  

Anchorage Capital CLO Ltd., Series 2014-5A, Class A, 3 mo. USD LIBOR + 1.600%, FRN (c)
2.623% 10/15/26

     1,000,000        1,000,877  

Blackbird Capital Aircraft Lease Securitization Ltd., Series 2016-1A, Class B, STEP (c)
5.682% 12/16/41

     989,583        999,595  

BlueMountain CLO II Ltd., Series 2006-2A, Class C, 3 mo. USD LIBOR + 0.800%, FRN (c)
1.855% 7/15/18

     1,025,000        1,022,599  
     Principal
Amount
     Value  

BlueMountain CLO Ltd., Series 2015-2A, Class C, 3 mo. USD LIBOR + 2.700%, FRN (c)
3.724% 7/18/27

   $ 1,000,000      $ 1,003,533  

BlueMountain CLO Ltd., Series 2015-3A, Class B, 3 mo. USD LIBOR + 3.100%, FRN (c)
4.130% 10/20/27

     1,000,000        1,010,302  

BlueMountain CLO Ltd., Series 2015-2A, Class D, 3 mo. USD LIBOR + 3.550%, FRN (c)
4.574% 7/18/27

     1,000,000        1,004,480  

BlueMountain CLO Ltd., Series 2015-3A, Class C, 3 mo. USD LIBOR + 3.550%, FRN (c)
4.580% 10/20/27

     1,000,000        1,003,515  

BlueMountain CLO Ltd., Series 2013-1A, Class CR, 3 mo. USD LIBOR + 4.150%, FRN (c)
5.180% 1/20/29

     1,000,000        1,012,304  

Carlyle Global Market Strategies CLO Ltd., Series 2016-2A, Class D2, 3 mo. USD LIBOR + 6.450%, FRN (c)
7.473% 7/15/27

     500,000        500,592  

Castle Aircraft SecuritizationTrust, Series 2015-1A, Class A (c)
4.703% 12/15/40

     1,619,875        1,653,101  

CLI Funding V LLC, Series 2014-2A, Class A (c)
3.380% 10/18/29

     527,545        515,422  

Dryden XXV Senior Loan Fund, Series 2012-25A, Class D, 3 mo. USD LIBOR + 4.000%, FRN (c)
5.023% 1/15/25

     833,000        833,714  

Element Rail Leasing II LLC, Series 2016-1A, Class A2 (c)
5.047% 3/19/46

     500,000        512,880  

Global SC Finance II SRL, Series 2014-1A, Class A1 (c)
3.190% 7/17/29

     520,667        503,100  

Goldentree Loan Opportunities X Ltd., Series 2015-10A, Class D, 3 mo. USD LIBOR + 3.350%, FRN (c)
4.380% 7/20/27

     1,000,000        994,250  

HERO Funding Trust, Series 2016-4A, Class A2 (c)
4.290% 9/20/47

     487,440        506,267  

LCM XVIII LP, Series 19A, Class D, 3 mo. USD LIBOR + 3.450%, FRN (c)
4.473% 7/15/27

     1,000,000        998,673  

Madison Park Funding Ltd., Series 2007-6A, Class C, 3 mo. USD LIBOR + 1.000%, FRN (c)
2.032% 7/26/21

     1,000,000        993,830  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

38


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

Madison Park Funding XIV Ltd., Series 2014-14A, Class D, 3 mo. USD LIBOR + 3.600%, FRN (c)
4.630% 7/20/26

   $ 1,000,000      $ 1,000,023  

Madison Park Funding XV Ltd., Series 2014-15A, Class DR, 3 mo. USD LIBOR + 5.440%, FRN (c)
6.482% 1/27/26

     1,000,000        999,991  

Madison Park Funding XVIII Ltd., Series 2015-18A, Class D2, 3 mo. USD LIBOR + 3.950%, FRN (c)
4.991% 10/21/26

     1,000,000        1,003,050  

Merrill Lynch Mortgage Investors Trust, Series 2006-OPT1, Class A2C, 1 mo. USD LIBOR + 0.150%, FRN
1.132% 8/25/37

     3,129,337        2,658,623  

Mosaic Solar Loans LLC, Series 2017-1A, Class A (c)
4.450% 6/20/42

     963,223        967,509  

Octagon Investment Partners Ltd., Series 2017-1A, Class C, 3 mo. USD LIBOR + 3.500%, FRN (c)
4.535% 3/17/30

     1,000,000        1,000,945  

Octagon Investment Partners Ltd., Series 2017-1A, Class D, 3 mo. USD LIBOR + 6.200%, FRN (c)
7.235% 3/17/30

     500,000        491,294  

OneMain Financial Issuance Trust, Series 2015-2A, Class A (c)
2.570% 7/18/25

     200,000        200,438  

OneMain Financial Issuance Trust, Series 2015-1A, Class A (c)
3.190% 3/18/26

     3,000,000        3,031,961  

Springleaf Funding Trust, Series 2015-AA, Class A (c)
3.160% 11/15/24

     3,000,000        3,023,849  

TAL Advantage V LLC, Series 2013-1A, Class A (c)
2.830% 2/22/38

     295,833        281,301  

TAL Advantage V LLC, Series 2014-1A, Class A (c)
3.510% 2/22/39

     475,867        456,830  

TCI-Cent CLO Ltd., Series 2016-1A, Class C, 3 mo. USD LIBOR + 4.000%, FRN (c)
5.124% 12/21/29

     1,000,000        1,006,423  

Thacher Park CLO Ltd., Series 2014-1A, Class D1R, 3 mo. USD LIBOR +
3.400%, FRN (c)
5.257% 10/20/26

     1,000,000        999,902  

THL Credit Wind River CLO Ltd., Series 2016-1A, Class C, 3 mo. USD LIBOR + 3.200%, FRN (c)
4.223% 7/15/28

     500,000        505,671  
     Principal
Amount
     Value  

THL Credit Wind River CLO Ltd., Series 2017-1A, Class D, 3 mo. USD LIBOR + 3.750%, FRN (c)
4.784% 4/18/29

   $ 1,000,000      $ 1,002,883  

Venture XVII CLO Ltd., Series 2014-17A, Class B2, 3 mo. USD LIBOR + 2.100%, FRN (c)
3.123% 7/15/26

     1,000,000        1,004,384  

Westcott Park Clo Ltd., Series 2016-1A, Class D, 3 mo. USD LIBOR + 4.350%, FRN (c)
5.380% 7/20/28

     500,000        509,407  
     

 

 

 
        38,743,610  
     

 

 

 
WL Collateral CMO — 9.9%  

Citigroup Mortgage Loan Trust, Series 2007-AR5, Class 1A2A, VRN
3.314% 4/25/37

     3,797,331        3,433,120  

CitiMortgage Alternative Loan Trust, Series 2006-A1, Class 1A5
5.500% 4/25/36

     3,987,015        3,774,100  

Countrywide Alternative Loan Trust, Series 2006-13T1, Class A11
6.000% 5/25/36

     3,082,124        2,527,931  

Countrywide Alternative Loan Trust, Series 2006-36T2, Class 2A1
6.250% 12/25/36

     5,122,819        3,702,518  

Countrywide Home Loans Mortgage Pass-Through Trust, Series 2007-HYB2, Class 3A1, VRN
3.363% 2/25/47

     2,574,938        2,177,166  

Countrywide Home Loans Mortgage Pass-Through Trust, Series 2007-14, Class A6
6.000% 9/25/37

     2,533,418        2,262,975  

CSMC Trust, Series 2015-RPL3, Class A1, STEP (c)
3.750% 12/25/56

     5,238,037        5,285,033  

HarborView Mortgage Loan Trust, Series 2006-11, Class A1A, 1 mo. USD LIBOR + 0.170%, FRN
1.148% 12/19/36

     2,069,244        1,779,394  

IndyMac INDX Mortgage Loan Trust, Series 2007-AR5, Class 2A1, VRN
3.291% 5/25/37

     4,514,943        3,855,536  

Morgan Stanley Mortgage Loan Trust, Series 2005-3AR, Class 2A1, VRN
3.310% 7/25/35

     1,114,190        980,114  

Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AR1, Class 2A1, VRN
3.522% 2/25/36

     3,965,193        3,238,964  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

39


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  

RBSSP Resecuritization Trust, Series 2009-5, Class 2A3, VRN (c)
6.500% 10/26/37

   $ 1,569,961      $ 1,325,028  

RFMSI Trust, Series 2007-S4, Class A5, 1 mo. USD LIBOR + 0.600%, FRN
6.000% 4/25/37

     752,352        753,735  

Structured Adjustable Rate Mortgage Loan Trust, Series 2008-1, Class A2, VRN
3.328% 10/25/37

     2,337,392        2,189,703  

Towd Point Mortgage Trust, Series 2015-2, Class 1A13, VRN (c)
2.500% 11/25/60

     4,280,516        4,241,964  

Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-4, Class 3A5, STEP
6.350% 5/25/36

     1,750,712        1,335,960  
     

 

 

 
        42,863,241  
     

 

 

 
WL Collateral PAC — 0.6%  

Countrywide Alternative Loan Trust, Series 2006-19CB, Class A15
6.000% 8/25/36

     3,103,823        2,745,322  
     

 

 

 
TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS
(Cost $125,608,315)
        123,949,637  
     

 

 

 
SOVEREIGN DEBT OBLIGATIONS — 2.4%  

Argentine Republic Government International Bond (c)
6.875% 1/26/27

     850,000        861,900  

Brazil Government International Bond
5.625% 1/07/41

     800,000        778,000  

Chile Government International Bond
3.125% 1/21/26

     400,000        406,200  

Colombia Government International Bond
4.500% 1/28/26

     200,000        211,000  

Dominican Republic International Bond (c)
5.950% 1/25/27

     1,100,000        1,123,375  

Dominican Republic International Bond (b)
6.850% 1/27/45

     400,000        413,000  

Fondo MIVIVIENDA SA (c)
3.500% 1/31/23

     150,000        151,125  

Guatemala Government Bond (b)
4.500% 5/03/26

     200,000        199,286  

Guatemala Government Bond (b)
4.875% 2/13/28

     200,000        203,400  

Indonesia Government International Bond (c)
4.350% 1/08/27

     500,000        517,353  
     Principal
Amount
     Value  

The Korea Development Bank
3.000% 1/13/26

   $ 200,000      $ 198,854  

Korea International Bond
2.750% 1/19/27

     800,000        786,080  

Mexico Government International Bond
4.125% 1/21/26

     200,000        205,600  

Mexico Government International Bond
4.150% 3/28/27

     2,048,000        2,082,816  

Mexico Government International Bond
4.750% 3/08/44

     100,000        97,250  

Panama Government International Bond
3.875% 3/17/28

     600,000        610,500  

Panama Government International Bond
4.300% 4/29/53

     200,000        189,500  

Perusahaan Penerbit SBSN Indonesia III (c)
4.150% 3/29/27

     400,000        401,680  

Philippine Government International Bond
3.700% 2/02/42

     400,000        395,186  

Provincia de Buenos Aires (c)
7.875% 6/15/27

     400,000        405,080  
     

 

 

 
TOTAL SOVEREIGN DEBT OBLIGATIONS
(Cost $10,055,763)
        10,237,185  
     

 

 

 
U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES — 12.5%  
Collateralized Mortgage Obligations — 6.2%  

Federal Home Loan Mortgage Corp.

     

Series 4481, Class B
3.000% 12/15/42

     8,180,678        8,265,290  

Series 4483, Class CA
3.000% 6/15/44

     7,696,648        7,772,018  

Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates Series K722, Class X1
1.311% 3/25/23 VRN

     6,726,933        424,638  

Series K053, Class A2
2.995% 12/25/25

     463,000        467,520  

Series K050, Class A2
3.334% 8/25/25 VRN

     350,000        363,149  

Federal National Mortgage Association
Series 2016-M3, Class A2
2.702% 2/25/26

     465,000        456,901  

Series 2015-9, Class HA
3.000% 1/25/45

     1,279,151        1,306,507  

Government National Mortgage Association
Series 2015-74, Class LZ
3.500% 5/20/45

     3,053,770        2,995,217  

Series 2015-92, Class CZ
3.500% 6/20/45

     4,859,011        4,787,081  
     

 

 

 
        26,838,321  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

40


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

     Principal
Amount
     Value  
Pass-Through Securities — 6.3%  

Federal Home Loan Mortgage Corp.

     

Pool #G08658 3.000%
8/01/45

   $ 4,326,489      $ 4,295,392  

Pool #G08632 3.500%
3/01/45

     3,605,545        3,693,007  

Federal National Mortgage Association

     

Pool #AL9238 3.000%
10/01/41

     4,828,173        4,808,747  

Pool #MA2248 3.000%
4/01/45

     2,992,135        2,955,318  

Pool #AS7661 3.000%
8/01/46

     1,873,812        1,850,756  

Pool #MA2711 3.000%
8/01/46

     6,630,972        6,549,381  

Pool #AX2501 4.000%
10/01/44

     2,949,165        3,094,089  
     

 

 

 
        27,246,690  
     

 

 

 
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS AND INSTRUMENTALITIES
(Cost $54,076,051)
        54,085,011  
     

 

 

 
U.S. TREASURY OBLIGATIONS — 27.0%  
U.S. Treasury Bonds & Notes — 27.0%  

U.S. Treasury Bond
2.750% 11/15/42

     11,920,000        11,353,800  

U.S. Treasury Inflation Index
0.125% 7/15/24

     2,331,346        2,309,592  

U.S. Treasury Inflation Index
0.125% 7/15/26

     2,360,057        2,302,528  

U.S. Treasury Inflation Index
1.000% 2/15/46

     5,686,594        5,773,024  

U.S. Treasury Note
0.625% 5/31/17

     3,150,000        3,149,040  

U.S. Treasury Note
0.625% 9/30/17

     8,170,000        8,157,904  

U.S. Treasury Note
1.000% 2/15/18

     11,400,000        11,393,632  

U.S. Treasury Note
1.000% 5/15/18

     1,030,000        1,028,636  

U.S. Treasury Note
1.000% 5/31/18

     6,590,000        6,580,012  

U.S. Treasury Note
1.500% 5/31/20

     10,420,000        10,394,113  

U.S. Treasury Note
1.500% 2/28/23

     330,000        318,989  

U.S. Treasury Note
1.625% 5/15/26

     14,340,000        13,452,824  

U.S. Treasury Note
1.750% 12/31/20

     440,000        440,303  
     Principal
Amount
     Value  

U.S. Treasury Note
1.750% 3/31/22

   $ 16,090,000      $ 15,937,774  

U.S. Treasury Note
2.000% 11/30/20

     9,950,000        10,051,521  

U.S. Treasury Note
2.125% 2/29/24

     2,890,000        2,874,557  

U.S. Treasury Note
2.250% 3/31/21

     10,970,000        11,164,546  
     

 

 

 
        116,682,795  
     

 

 

 
TOTAL U.S. TREASURY OBLIGATIONS
(Cost $117,425,503)
        116,682,795  
     

 

 

 
TOTAL BONDS & NOTES
(Cost $411,581,848)
        409,751,631  
     

 

 

 
     Number of
Shares
        
MUTUAL FUNDS — 2.0%  
Diversified Financial Services — 2.0%  

DoubleLine Floating Rate Fund

     859,180        8,505,884  
     

 

 

 
TOTAL MUTUAL FUNDS
(Cost $8,754,937)
        8,505,884  
     

 

 

 
TOTAL LONG-TERM INVESTMENTS
(Cost $420,355,589)
        418,269,496  
     

 

 

 
     Principal
Amount
        
SHORT-TERM INVESTMENTS — 4.1%  
Repurchase Agreement — 4.1%  

State Street Bank & Trust Co. Repurchase Agreement, dated 3/31/17, 0.050%, due 4/03/17 (f)

   $ 17,626,730        17,626,730  
     

 

 

 
TOTAL SHORT-TERM INVESTMENTS
(Cost $17,626,730)
        17,626,730  
     

 

 

 
TOTAL INVESTMENTS — 101.0%
(Cost $437,982,319) (g)
        435,896,226  
     

 

 

 
Other Assets/(Liabilities) — (1.0)%         (4,261,327
     

 

 

 
NET ASSETS — 100.0%       $ 431,634,899  
     

 

 

 
     

 

 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ABS Asset-Backed Security
CLO Collateralized Loan Obligation
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

41


MML Dynamic Bond Fund – Portfolio of Investments (Continued)

 

Notes to Portfolio of Investments (Continued)

CMO Collateralized Mortgage Obligation
CMT Constant Maturity Treasury Index
FRN Floating Rate Note
MBS Mortgage-Backed Security
PAC Planned Amortization Class
STEP Step Up Bond
VRN Variable Rate Note
WL Whole Loan
(a) Non-income producing security.
(b) Security exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. At March 31, 2017, these securities amounted to a value of $22,300,377 or 5.17% of net assets.
(c) Securities exempt from registration under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2017, these securities amounted to a value of $80,031,575 or 18.54% of net assets.
(d) A portion of this security is purchased on a when-issued, delayed-delivery or forward commitment basis. (Note 2).
(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 March 31, 2017, these securities amounted to a value of $54,000 or 0.01% of net assets.
(f) Maturity value of $17,626,804. Collateralized by U.S. Government Agency obligations with rates ranging from 1.000% – 1.625%, maturity dates ranging from 5/15/18 – 4/30/19, and an aggregate market value, including accrued interest, of $17,983,063.
(g) See Note 3 for aggregate cost for federal tax purposes.
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

42


MML Equity Fund – Portfolio of Investments

 

March 31, 2017 (Unaudited)

 

     Number of
Shares
     Value  
EQUITIES — 97.5%  
COMMON STOCK — 97.5%  
Basic Materials — 2.9%  
Chemicals — 1.6%  

E.I. du Pont de Nemours & Co.

     65,352      $ 5,249,726  

Eastman Chemical Co.

     92,020        7,435,216  
     

 

 

 
        12,684,942  
     

 

 

 
Iron & Steel — 0.7%  

Nucor Corp.

     100,420        5,997,082  
     

 

 

 
Mining — 0.6%  

Goldcorp, Inc. (a)

     356,650        5,203,524  
     

 

 

 
        23,885,548  
     

 

 

 
Communications — 7.0%  
Internet — 0.9%  

Alphabet, Inc. Class A (b)

     4,700        3,984,660  

Symantec Corp.

     112,740        3,458,863  
     

 

 

 
        7,443,523  
     

 

 

 
Media — 3.2%  

Comcast Corp. Class A

     457,660        17,203,439  

DISH Network Corp. Class A (b)

     58,040        3,684,960  

The Walt Disney Co.

     47,290        5,362,213  
     

 

 

 
        26,250,612  
     

 

 

 
Telecommunications — 2.9%  

CenturyLink, Inc. (a)

     111,270        2,622,634  

Cisco Systems, Inc.

     178,093        6,019,544  

T-Mobile US, Inc. (b)

     130,890        8,454,185  

Verizon Communications, Inc.

     88,479        4,313,351  

Vodafone Group PLC Sponsored ADR (United Kingdom)

     107,520        2,841,754  
     

 

 

 
        24,251,468  
     

 

 

 
        57,945,603  
     

 

 

 
Consumer, Cyclical — 6.3%  
Airlines — 0.7%  

Delta Air Lines, Inc.

     77,700        3,571,092  

Southwest Airlines Co.

     44,660        2,400,922  
     

 

 

 
        5,972,014  
     

 

 

 
Home Furnishing — 0.4%  

Whirlpool Corp.

     20,000        3,426,600  
     

 

 

 
Housewares — 0.5%  

Newell Brands, Inc.

     85,449        4,030,629  
     

 

 

 
Leisure Time — 1.1%  

Carnival Corp.

     91,800        5,407,938  

Harley-Davidson, Inc.

     57,106        3,454,913  
     

 

 

 
        8,862,851  
     

 

 

 
Lodging — 0.4%  

Wyndham Worldwide Corp.

     35,470        2,989,766  
     

 

 

 
     Number of
Shares
     Value  
Retail — 3.2%  

Advance Auto Parts, Inc.

     25,431      $ 3,770,400  

Coach, Inc.

     71,830        2,968,734  

CVS Health Corp.

     55,248        4,336,968  

Dollar General Corp.

     52,295        3,646,530  

Liberty Interactive Corp. QVC Group Class A (b)

     163,058        3,264,421  

Rite Aid Corp. (a) (b)

     322,230        1,369,478  

Walgreens Boots Alliance, Inc.

     87,620        7,276,841  
     

 

 

 
        26,633,372  
     

 

 

 
        51,915,232  
     

 

 

 
Consumer, Non-cyclical — 16.7%  
Agriculture — 1.4%  

Philip Morris International, Inc.

     98,975        11,174,277  
     

 

 

 
Beverages — 0.9%  

Coca-Cola European Partners PLC

     68,610        2,585,911  

PepsiCo, Inc.

     43,435        4,858,639  
     

 

 

 
        7,444,550  
     

 

 

 
Biotechnology — 0.8%  

Amgen, Inc.

     27,310        4,480,752  

Gilead Sciences, Inc.

     27,980        1,900,401  
     

 

 

 
        6,381,153  
     

 

 

 
Commercial Services — 0.4%  

Nielsen Holdings PLC

     87,850        3,629,084  
     

 

 

 
Cosmetics & Personal Care — 1.0%  

The Procter & Gamble Co.

     95,870        8,613,920  
     

 

 

 
Foods — 0.9%  

The Kroger Co.

     73,870        2,178,426  

Mondelez International, Inc. Class A

     111,468        4,802,042  
     

 

 

 
        6,980,468  
     

 

 

 
Health Care – Products — 3.6%  

Abbott Laboratories

     119,439        5,304,286  

Boston Scientific Corp. (b)

     51,280        1,275,334  

Danaher Corp.

     72,378        6,190,490  

Medtronic PLC

     111,586        8,989,368  

Thermo Fisher Scientific, Inc.

     18,660        2,866,176  

Zimmer Biomet Holdings, Inc.

     43,000        5,250,730  
     

 

 

 
        29,876,384  
     

 

 

 
Health Care – Services — 2.9%  

Aetna, Inc.

     30,541        3,895,505  

Humana, Inc.

     15,951        3,288,139  

UnitedHealth Group, Inc.

     99,704        16,352,453  
     

 

 

 
        23,536,097  
     

 

 

 
Pharmaceuticals — 4.8%  

Allergan PLC

     20,236        4,834,785  

Cardinal Health, Inc.

     49,650        4,048,958  

Eli Lilly & Co.

     42,875        3,606,216  
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

43


MML Equity Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  

GlaxoSmithKline PLC Sponsored ADR (United Kingdom)

     69,850      $ 2,944,876  

Merck & Co., Inc.

     78,231        4,970,798  

Pfizer, Inc.

     460,915        15,767,902  

Teva Pharmaceutical Industries Ltd. Sponsored ADR (Israel)

     98,560        3,162,790  
     

 

 

 
        39,336,325  
     

 

 

 
        136,972,258  
     

 

 

 
Energy — 10.2%  
Oil & Gas — 6.8%  

Anadarko Petroleum Corp.

     85,091        5,275,642  

Chevron Corp.

     189,210        20,315,478  

ConocoPhillips

     52,268        2,606,605  

Hess Corp.

     112,689        5,432,737  

Marathon Petroleum Corp.

     90,142        4,555,777  

Phillips 66

     39,952        3,164,997  

Royal Dutch Shell PLC A Shares Sponsored ADR (United Kingdom)

     62,533        3,297,365  

Suncor Energy, Inc.

     368,780        11,339,985  
     

 

 

 
        55,988,586  
     

 

 

 
Oil & Gas Services — 2.7%  

Baker Hughes, Inc.

     38,768        2,319,102  

Halliburton Co.

     228,562        11,247,536  

Schlumberger Ltd.

     48,724        3,805,344  

Weatherford International PLC (a) (b)

     764,720        5,085,388  
     

 

 

 
        22,457,370  
     

 

 

 
Pipelines — 0.7%  

Enbridge, Inc.

     128,659        5,383,093  
     

 

 

 
        83,829,049  
     

 

 

 
Financial — 27.4%  
Banks — 13.7%  

Bank of America Corp.

     1,431,947        33,779,630  

The Bank of New York Mellon Corp.

     105,030        4,960,567  

Citigroup, Inc.

     103,649        6,200,283  

Fifth Third Bancorp

     149,611        3,800,119  

JP Morgan Chase & Co.

     401,275        35,247,996  

KeyCorp

     293,590        5,220,030  

Morgan Stanley

     79,830        3,419,917  

The PNC Financial Services Group, Inc.

     60,842        7,315,642  

State Street Corp.

     43,161        3,436,047  

Wells Fargo & Co.

     169,828        9,452,627  
     

 

 

 
        112,832,858  
     

 

 

 
Diversified Financial Services — 5.0%  

Alliance Data Systems Corp.

     19,217        4,785,033  

Ally Financial, Inc.

     98,590        2,004,335  
     Number of
Shares
     Value  

American Express Co.

     45,005      $ 3,560,346  

FNF Group

     113,316        4,412,525  

Ameriprise Financial, Inc.

     61,546        7,981,285  

Discover Financial Services

     64,540        4,413,891  

Nasdaq, Inc.

     110,150        7,649,917  

Synchrony Financial

     178,170        6,111,231  
     

 

 

 
        40,918,563  
     

 

 

 
Insurance — 5.5%  

American International Group, Inc.

     226,409        14,134,714  

Aon PLC

     41,910        4,974,298  

MetLife, Inc.

     230,264        12,162,544  

The Travelers Cos., Inc.

     39,166        4,721,070  

Unum Group

     94,506        4,431,386  

XL Group Ltd.

     121,990        4,862,521  
     

 

 

 
        45,286,533  
     

 

 

 
Real Estate Investment Trusts (REITS) — 3.2%  

Boston Properties, Inc.

     23,390        3,097,070  

CBRE Group, Inc. Class A (b)

     108,216        3,764,835  

Crown Castle International Corp.

     37,820        3,572,099  

Digital Realty Trust, Inc.

     23,350        2,484,206  

HCP, Inc.

     154,070        4,819,310  

Invitation Homes, Inc. (b)

     95,100        2,076,033  

Outfront Media, Inc.

     66,625        1,768,894  

Weyerhaeuser Co.

     136,035        4,622,469  
     

 

 

 
        26,204,916  
     

 

 

 
        225,242,870  
     

 

 

 
Industrial — 13.4%  
Aerospace & Defense — 3.1%  

Harris Corp.

     51,027        5,677,774  

Lockheed Martin Corp.

     31,261        8,365,444  

Northrop Grumman Corp.

     21,124        5,024,132  

United Technologies Corp.

     60,689        6,809,913  
     

 

 

 
        25,877,263  
     

 

 

 
Building Materials — 2.3%  

Johnson Controls International PLC

     369,166        15,549,272  

Vulcan Materials Co.

     31,017        3,736,928  
     

 

 

 
        19,286,200  
     

 

 

 
Electronics — 1.5%  

Honeywell International, Inc.

     43,281        5,404,498  

TE Connectivity Ltd.

     88,400        6,590,220  
     

 

 

 
        11,994,718  
     

 

 

 
Environmental Controls — 0.4%  

Waste Management, Inc.

     39,840        2,905,133  
     

 

 

 
Machinery – Construction & Mining — 0.3%  

Caterpillar, Inc.

     26,430        2,451,647  
     

 

 

 
Miscellaneous – Manufacturing — 3.0%  

Eaton Corp. PLC

     186,678        13,842,174  

Parker-Hannifin Corp.

     39,903        6,397,249  

Pentair PLC

     69,809        4,382,609  
     

 

 

 
        24,622,032  
     

 

 

 
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

44


MML Equity Fund – Portfolio of Investments (Continued)

 

     Number of
Shares
     Value  
Packaging & Containers — 0.9%  

Sealed Air Corp.

     95,812      $ 4,175,487  

WestRock Co.

     61,140        3,181,114  
     

 

 

 
        7,356,601  
     

 

 

 
Transportation — 1.9%  

FedEx Corp.

     12,760        2,490,114  

Kansas City Southern

     22,340        1,915,878  

Norfolk Southern Corp.

     41,105        4,602,527  

XPO Logistics, Inc. (b)

     146,160        6,999,602  
     

 

 

 
        16,008,121  
     

 

 

 
        110,501,715  
     

 

 

 
Technology — 10.2%  
Computers — 3.1%  

Apple, Inc.

     102,852        14,775,718  

Check Point Software Technologies Ltd. (b)

     16,990        1,744,193  

Diebold Nixdorf, Inc. (a)

     54,465        1,672,076  

HP, Inc.

     250,770        4,483,768  

Western Digital Corp.

     35,980        2,969,429  
     

 

 

 
        25,645,184  
     

 

 

 
Semiconductors — 3.2%  

Broadcom Ltd.

     46,692        10,223,680  

Micron Technology, Inc. (b)

     105,746        3,056,060  

NXP Semiconductor NV (b)

     34,370        3,557,295  

QUALCOMM, Inc.

     79,744        4,572,521  

Texas Instruments, Inc.

     61,030        4,916,577  
     

 

 

 
        26,326,133  
     

 

 

 
Software — 3.9%  

First Data Corp. Class A (b)

     231,400        3,586,700  

Microsoft Corp.

     222,586        14,659,514  

Oracle Corp.

     132,572        5,914,037  

Synopsys, Inc. (b)

     102,050        7,360,866  
     

 

 

 
        31,521,117  
     

 

 

 
        83,492,434  
     

 

 

 
Utilities — 3.4%  
Electric — 3.4%  

Edison International

     189,100        15,054,251  

Entergy Corp.

     38,970        2,960,161  

NextEra Energy, Inc.

     39,886        5,120,166  

PG&E Corp.

     76,820        5,097,775  
     

 

 

 
        28,232,353  
     

 

 

 
TOTAL COMMON STOCK
(Cost $594,892,441)
        802,017,062  
     

 

 

 
TOTAL EQUITIES
(Cost $594,892,441)
        802,017,062  
     

 

 

 
     Number of
Shares
     Value  
MUTUAL FUNDS — 1.8%  
Diversified Financial Services — 1.8%  

State Street Navigator Securities Lending Prime Portfolio (c)

     14,861,768      $ 14,861,768  
     

 

 

 
TOTAL MUTUAL FUNDS
(Cost $14,861,768)
        14,861,768  
     

 

 

 
TOTAL LONG-TERM INVESTMENTS
(Cost $609,754,209)
        816,878,830  
     

 

 

 
     Principal
Amount
        
SHORT-TERM INVESTMENTS — 2.6%  
Repurchase Agreement — 2.6%      

State Street Bank & Trust Co.
Repurchase Agreement, dated 3/31/17, 0.050%, due 4/03/17 (d)

   $ 21,567,464        21,567,464  
     

 

 

 
TOTAL SHORT-TERM INVESTMENTS
(Cost $21,567,464)
        21,567,464  
     

 

 

 
TOTAL INVESTMENTS — 101.9%
(Cost $631,321,673) (e)
        838,446,294  
Other Assets/(Liabilities) — (1.9)%         (15,607,091
     

 

 

 
NET ASSETS — 100.0%       $ 822,839,203  
     

 

 

 

Notes to Portfolio of Investments

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt
(a) Denotes all or a portion of security on loan. The total value of securities on loan as of March 31, 2017, was $14,311,953 or 1.74% of net assets. Total securities on loan may not correspond with the amounts identified in the Portfolio of Investments because pending sales may be in the process of recall from the brokers. (Note 2).
(b) Non-income producing security.
(c) Represents investment of security lending collateral. (Note 2).
(d) Maturity value of $21,567,554. Collateralized by U.S. Government Agency obligations with rates ranging from 1.500% – 2.000%, maturity dates ranging from 8/31/21 – 1/31/22, and an aggregate market value, including accrued interest, of $22,005,280.
(e) See Note 3 for aggregate cost for federal tax purposes.
 

 

The accompanying notes are an integral part of the portfolio of investments.

 

45


MML Equity Rotation Fund – Portfolio of Investments

 

March 31, 2017 (Unaudited)

 

     Number of
Shares
     Value  
EQUITIES — 95.6%  
COMMON STOCK — 95.6%  
Basic Materials — 5.5%  
Chemicals — 1.4%  

Eastman Chemical Co.

     300      $ 24,240  

Ingevity Corp. (a)

     4,900        298,165  

Praxair, Inc.

     200        23,720  
     

 

 

 
        346,125  
     

 

 

 
Iron & Steel — 3.4%  

ArcelorMittal (a)

     46,900        391,615  

Nucor Corp.

     4,800        286,656  

Reliance Steel & Aluminum Co.

     2,100        168,042  
     

 

 

 
        846,313  
     

 

 

 
Mining — 0.7%  

BHP Billiton Ltd. Sponsored ADR (Australia)

     5,000        181,600  
     

 

 

 
        1,374,038  
     

 

 

 
Communications — 13.4%  
Internet — 10.0%  

Alphabet, Inc. Class A (a)

     280        237,384  

Alphabet, Inc. Class C (a)

     50        41,478  

Amazon.com, Inc. (a)

     1,590        1,409,599  

Facebook, Inc. Class A (a)

     3,110        441,775  

MercadoLibre, Inc.

     1,030        217,814  

VeriSign, Inc. (a)

     1,900        165,509  
     

 

 

 
        2,513,559  
     

 

 

 
Media — 0.9%  

News Corp. Class A

     2,400        31,200  

Scripps Networks Interactive Class A

     2,600        203,762  
     

 

 

 
        234,962  
     

 

 

 
Telecommunications — 2.5%  

AT&T, Inc.

     5,000        207,750  

Cisco Systems, Inc.

     6,000        202,800  

Sprint Corp. (a)

     9,300        80,724  

Zayo Group Holdings, Inc. (a)

     3,900        128,310  
     

 

 

 
        619,584  
     

 

 

 
        3,368,105  
     

 

 

 
Consumer, Cyclical — 9.0%  
Auto Manufacturers — 1.0%  

General Motors Co.

     6,800        240,448  
     

 

 

 
Auto Parts & Equipment — 1.5%  

The Goodyear Tire & Rubber Co.

     4,800        172,800  

Lear Corp.

     1,490        210,954  
     

 

 

 
        383,754  
     

 

 

 
Home Builders — 0.7%