UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-10183

BRIGHTHOUSE FUNDS TRUST I

(Exact name of registrant as specified in charter)

One Financial Center

Boston, Massachusetts 02111

(Address of principal executive offices)(Zip code)

(Name and Address of Agent for Service)	Copy to:
Alan Otis Brighthouse Investment Advisers, LLC One Financial Center Boston, Massachusetts 02111	Brian McCabe, Esq. Ropes & Gray LLP Prudential Tower 800 Boylston Street Boston, MA 02199

Registrant’s telephone number, including area code: (980) 949-5114

Date of fiscal year end: December 31

Date of reporting period: January 1, 2018 to March 31, 2018

Item 1. Schedule of Investments.

The following is a copy of the unaudited schedules as of the close of the reporting period as set forth in §§ 210.12-12 – 12-14 of Regulation S-X [17 CFR 210.12-12 – 12.14]:

Brighthouse Funds Trust I

Schedule of Investments

March 31, 2018

Brighthouse Funds Trust I

Table of Contents

AB Global Dynamic Allocation Portfolio	BHFTI-1
Allianz Global Investors Dynamic Multi-Asset Plus Portfolio	BHFTI-26
American Funds Balanced Allocation Portfolio	BHFTI-36
American Funds Growth Allocation Portfolio	BHFTI-37
American Funds Growth Portfolio	BHFTI-38
American Funds Moderate Allocation Portfolio	BHFTI-39
AQR Global Risk Balanced Portfolio	BHFTI-40
BlackRock Global Tactical Strategies Portfolio	BHFTI-47
BlackRock High Yield Portfolio	BHFTI-53
Brighthouse/Aberdeen Emerging Markets Equity Portfolio	BHFTI-81
Brighthouse/Artisan International Portfolio	BHFTI-85
Brighthouse/Eaton Vance Floating Rate Portfolio	BHFTI-89
Brighthouse/Franklin Low Duration Total Return Portfolio	BHFTI-103
Brighthouse/Templeton International Bond Portfolio	BHFTI-122
Brighthouse/Wellington Large Cap Research Portfolio	BHFTI-130
Brighthouse Asset Allocation 100 Portfolio	BHFTI-137
Brighthouse Balanced Plus Portfolio	BHFTI-138
Brighthouse Small Cap Value Portfolio	BHFTI-142
Clarion Global Real Estate Portfolio	BHFTI-148
ClearBridge Aggressive Growth Portfolio	BHFTI-152
Harris Oakmark International Portfolio	BHFTI-156
Invesco Balanced-Risk Allocation Portfolio	BHFTI-160
Invesco Comstock Portfolio	BHFTI-165
Invesco Small Cap Growth Portfolio	BHFTI-171
JPMorgan Core Bond Portfolio	BHFTI-176
JPMorgan Global Active Allocation Portfolio	BHFTI-203
JPMorgan Small Cap Value Portfolio	BHFTI-236
Loomis Sayles Global Markets Portfolio	BHFTI-244
MetLife Multi-Index Targeted Risk Portfolio	BHFTI-257
MFS® Research International Portfolio	BHFTI-259
Morgan Stanley Mid Cap Growth Portfolio	BHFTI-264
Oppenheimer Global Equity Portfolio	BHFTI-270
PanAgora Global Diversified Risk Portfolio	BHFTI-274
PIMCO Inflation Protected Bond Portfolio	BHFTI-289
PIMCO Total Return Portfolio	BHFTI-306
Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)	BHFTI-331
Schroders Global Multi-Asset Portfolio	BHFTI-339
Schroders Global Multi-Asset Portfolio II	BHFTI-355
SSGA Growth and Income ETF Portfolio	BHFTI-369
SSGA Growth ETF Portfolio	BHFTI-372
T. Rowe Price Large Cap Value Portfolio	BHFTI-375
T. Rowe Price Mid Cap Growth Portfolio	BHFTI-380
TCW Core Fixed Income Portfolio	BHFTI-387
Victory Sycamore Mid Cap Value Portfolio	BHFTI-397
Wells Capital Management Mid Cap Value Portfolio	BHFTI-401
Notes to Schedule of Investments	BHFTI-405

Not all Portfolios are available under every product.

Refer to your prospectus for information on the Portfolios that are available.

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—62.0% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.2%
Airbus SE		59,786	$	6,917,460
Arconic, Inc.		25,650		590,976
BAE Systems plc		327,740		2,677,130
Boeing Co. (The)		33,925		11,123,329
Cobham plc (a)		245,124		423,260
Dassault Aviation S.A.		258		493,056
Elbit Systems, Ltd.		2,428		292,577
General Dynamics Corp.		16,830		3,717,747
Harris Corp.		7,190		1,159,603
Huntington Ingalls Industries, Inc.		2,742		706,778
L3 Technologies, Inc.		4,785		995,280
Leonardo S.p.A.		41,348		478,213
Lockheed Martin Corp.		15,145		5,117,950
Meggitt plc		79,525		482,387
MTU Aero Engines AG		5,353		902,314
Northrop Grumman Corp.		10,525		3,674,488
Raytheon Co.		17,515		3,780,087
Rockwell Collins, Inc.		9,835		1,326,250
Rolls-Royce Holdings plc (a)		170,378		2,086,848
Safran S.A.		34,339		3,638,940
Singapore Technologies Engineering, Ltd.		160,000		440,156
Textron, Inc.		15,880		936,444
Thales S.A.		10,919		1,330,511
TransDigm Group, Inc.		2,902		890,740
United Technologies Corp.		45,025		5,665,046
				59,847,570
Air Freight & Logistics—0.3%
Bollore S.A.		89,931		479,945
C.H. Robinson Worldwide, Inc. (b)		8,360		783,416
Deutsche Post AG		99,934		4,370,044
Expeditors International of Washington, Inc.		10,705		677,626
FedEx Corp.		15,010		3,604,051
Royal Mail plc		92,267		700,659
United Parcel Service, Inc. - Class B		41,600		4,353,856
Yamato Holdings Co., Ltd.		36,087		907,253
				15,876,850
Airlines—0.2%
Alaska Air Group, Inc.		7,403		458,690
American Airlines Group, Inc.		25,721		1,336,463
ANA Holdings, Inc.		11,969		463,028
Delta Air Lines, Inc.		39,751		2,178,752
Deutsche Lufthansa AG		24,178		772,334
easyJet plc		16,275		366,906
International Consolidated Airlines Group S.A. - Class DI		63,966		553,588
Japan Airlines Co., Ltd.		12,040		489,843
Ryanair Holdings plc (ADR) (a)		2,174		267,076
Singapore Airlines, Ltd.		55,300		459,255
Southwest Airlines Co.		32,985		1,889,381
United Continental Holdings, Inc. (a)		15,191		1,055,319
				10,290,635
Auto Components—0.5%
Aisin Seiki Co., Ltd.		18,237		998,517
Aptiv plc		16,021		1,361,305
Auto Components—(Continued)
BorgWarner, Inc.		11,940		599,746
Bridgestone Corp.		66,953		2,939,420
Cie Generale des Etablissements Michelin		17,645		2,608,176
Continental AG		11,323		3,127,696
Denso Corp.		49,039		2,693,539
Faurecia		7,815		633,219
GKN plc		175,924		1,143,822
Goodyear Tire & Rubber Co. (The)		14,890		395,776
Koito Manufacturing Co., Ltd.		11,620		814,787
Minth Group, Ltd.		76,200		349,320
NGK Spark Plug Co., Ltd.		16,408		396,232
NOK Corp.		9,875		193,602
Nokian Renkaat Oyj		12,073		549,156
Stanley Electric Co., Ltd.		14,517		547,340
Sumitomo Electric Industries, Ltd.		77,498		1,191,412
Sumitomo Rubber Industries, Ltd.		18,877		348,035
Toyoda Gosei Co., Ltd.		6,645		153,285
Toyota Industries Corp.		16,821		1,023,562
Valeo S.A.		24,667		1,631,213
Yokohama Rubber Co., Ltd. (The)		12,167		283,240
				23,982,400
Automobiles—1.2%
Bayerische Motoren Werke AG		34,079		3,698,434
Daimler AG		99,104		8,421,382
Ferrari NV		12,667		1,525,755
Fiat Chrysler Automobiles NV (a)		110,323		2,262,051
Ford Motor Co.		236,395		2,619,257
General Motors Co.		77,413		2,813,188
Harley-Davidson, Inc.		10,175		436,304
Honda Motor Co., Ltd.		177,124		6,150,192
Isuzu Motors, Ltd.		56,599		868,913
Mazda Motor Corp.		58,405		780,111
Mitsubishi Motors Corp.		68,752		491,591
Nissan Motor Co., Ltd.		238,922		2,472,783
Peugeot S.A.		60,536		1,457,842
Renault S.A.		19,785		2,403,628
Subaru Corp.		63,317		2,095,695
Suzuki Motor Corp.		35,451		1,924,462
Toyota Motor Corp.		268,682		17,511,201
Volkswagen AG		3,341		668,976
Yamaha Motor Co., Ltd.		28,797		861,800
				59,463,565
Banks—5.6%
ABN AMRO Group NV (144A)		43,539		1,312,689
AIB Group plc		83,815		505,391
Aozora Bank, Ltd.		12,255		490,898
Australia & New Zealand Banking Group, Ltd.		302,341		6,272,685
Banco Bilbao Vizcaya Argentaria S.A. (b)		686,308		5,433,810
Banco de Sabadell S.A.		547,778		1,121,527
Banco Espirito Santo S.A. (a) (c) (d) (e)		169,954		0
Banco Santander S.A.		1,662,642		10,843,859
Bank Hapoalim B.M.		109,390		752,109
Bank Leumi Le-Israel B.M.		148,326		895,857
Bank of America Corp.		587,808		17,628,362

BHFTI-1

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
Bank of East Asia, Ltd. (The)		125,200	$	502,558
Bank of Ireland Group plc (a)		93,976		823,708
Bank of Kyoto, Ltd. (The)		6,258		354,957
Bank of Queensland, Ltd.		39,900		338,432
Bankia S.A.		102,900		461,145
Bankinter S.A.		69,117		711,223
Barclays plc		1,753,393		5,120,726
BB&T Corp.		47,745		2,484,650
Bendigo & Adelaide Bank, Ltd.		48,686		370,660
BNP Paribas S.A.		115,649		8,574,845
BOC Hong Kong Holdings, Ltd.		380,600		1,866,396
CaixaBank S.A.		369,085		1,760,238
Chiba Bank, Ltd. (The)		71,806		588,801
Citigroup, Inc.		160,171		10,811,542
Citizens Financial Group, Inc.		29,754		1,249,073
Comerica, Inc.		10,455		1,002,948
Commerzbank AG (a)		109,449		1,421,988
Commonwealth Bank of Australia		178,266		9,956,823
Concordia Financial Group, Ltd.		125,638		710,274
Credit Agricole S.A.		117,124		1,905,720
Danske Bank A/S		77,141		2,882,913
DBS Group Holdings, Ltd.		184,600		3,894,124
DNB ASA		100,526		1,961,369
Erste Group Bank AG		31,033		1,560,729
Fifth Third Bancorp		42,735		1,356,836
Fukuoka Financial Group, Inc.		78,867		432,723
Hachijuni Bank, Ltd. (The)		41,291		224,632
Hang Seng Bank, Ltd.		78,600		1,832,492
HSBC Holdings plc		2,068,817		19,339,015
Huntington Bancshares, Inc.		65,455		988,371
ING Groep NV		399,913		6,754,422
Intesa Sanpaolo S.p.A.		1,387,546		5,060,080
Intesa Sanpaolo S.p.A. - Risparmio Shares		95,598		362,282
Japan Post Bank Co., Ltd.		41,622		565,853
JPMorgan Chase & Co.		210,200		23,115,694
KBC Groep NV		25,813		2,250,012
KeyCorp		65,120		1,273,096
Kyushu Financial Group, Inc.		35,628		178,127
Lloyds Banking Group plc		7,401,682		6,725,906
M&T Bank Corp.		9,095		1,676,754
Mebuki Financial Group, Inc.		102,744		399,342
Mediobanca S.p.A.		58,828		692,505
Mitsubishi UFJ Financial Group, Inc.		1,227,260		8,145,515
Mizrahi Tefahot Bank, Ltd.		14,242		272,730
Mizuho Financial Group, Inc.		2,482,627		4,514,453
National Australia Bank, Ltd.		276,408		6,081,819
Nordea Bank AB		312,638		3,339,963
Oversea-Chinese Banking Corp., Ltd.		323,700		3,188,509
People’s United Financial, Inc.		20,895		389,901
PNC Financial Services Group, Inc. (The)		28,835		4,361,005
Raiffeisen Bank International AG (a)		15,327		597,174
Regions Financial Corp.		70,215		1,304,595
Resona Holdings, Inc.		226,793		1,220,741
Royal Bank of Scotland Group plc (a)		367,486		1,337,350
Seven Bank, Ltd.		60,420		194,120
Shinsei Bank, Ltd.		16,917		262,260
Shizuoka Bank, Ltd. (The)		52,910		511,651
Banks—(Continued)
Skandinaviska Enskilda Banken AB - Class A		156,251		1,638,270
Societe Generale S.A.		78,979		4,296,875
Standard Chartered plc		338,798		3,392,504
Sumitomo Mitsui Financial Group, Inc.		138,306		5,864,796
Sumitomo Mitsui Trust Holdings, Inc.		34,223		1,401,307
SunTrust Banks, Inc.		28,800		1,959,552
Suruga Bank, Ltd.		17,928		251,213
SVB Financial Group (a)		3,225		774,032
Svenska Handelsbanken AB - A Shares		157,139		1,971,537
Swedbank AB - A Shares		93,196		2,089,586
U.S. Bancorp		95,535		4,824,518
UniCredit S.p.A. (a)		206,761		4,338,284
United Overseas Bank, Ltd.		137,500		2,899,472
Wells Fargo & Co. (f)		268,510		14,072,609
Westpac Banking Corp.		349,373		7,725,651
Yamaguchi Financial Group, Inc.		20,431		253,128
Zions Bancorp (b)		12,060		635,924
				273,912,215
Beverages—1.3%
Anheuser-Busch InBev S.A.		78,427		8,619,328
Asahi Group Holdings, Ltd.		39,804		2,141,504
Brown-Forman Corp. - Class B		14,817		806,045
Carlsberg A/S - Class B		11,034		1,318,551
Coca-Cola Amatil, Ltd.		56,885		380,662
Coca-Cola Bottlers Japan Holdings, Inc.		12,832		528,689
Coca-Cola Co. (The) (f)		232,310		10,089,223
Coca-Cola European Partners plc		22,437		934,725
Coca-Cola HBC AG (a)		18,793		695,332
Constellation Brands, Inc. - Class A		10,475		2,387,462
Davide Campari-Milano S.p.A.		59,780		453,075
Diageo plc		259,267		8,771,026
Dr Pepper Snapple Group, Inc.		10,940		1,295,077
Heineken Holding NV		11,859		1,222,828
Heineken NV		26,679		2,871,254
Kirin Holdings Co., Ltd.		89,347		2,396,146
Molson Coors Brewing Co. - Class B		11,105		836,540
Monster Beverage Corp. (a)		24,940		1,426,817
PepsiCo, Inc.		86,125		9,400,544
Pernod-Ricard S.A.		21,856		3,640,869
Remy Cointreau S.A.		2,347		334,804
Suntory Beverage & Food, Ltd.		14,367		696,647
Treasury Wine Estates, Ltd.		75,715		988,808
				62,235,956
Biotechnology—1.0%
AbbVie, Inc.		96,592		9,142,433
Alexion Pharmaceuticals, Inc. (a)		13,500		1,504,710
Amgen, Inc.		40,769		6,950,299
Biogen, Inc. (a)		12,830		3,513,111
Celgene Corp. (a)		47,640		4,249,964
CSL, Ltd.		46,573		5,600,240
Genmab A/S (a)		5,999		1,291,493
Gilead Sciences, Inc.		79,143		5,966,591
Grifols S.A.		30,767		871,480
Incyte Corp. (a)		10,533		877,715

BHFTI-2

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Biotechnology—(Continued)
Regeneron Pharmaceuticals, Inc. (a)		4,641	$	1,598,175
Shire plc		93,470		4,659,407
Vertex Pharmaceuticals, Inc. (a)		15,267		2,488,216
				48,713,834
Building Products—0.3%
A.O. Smith Corp.		8,760		557,048
Allegion plc		5,701		486,238
Asahi Glass Co., Ltd.		20,561		861,785
Assa Abloy AB - Class B		103,134		2,239,228
Cie de St-Gobain		51,904		2,741,625
Daikin Industries, Ltd.		25,644		2,847,845
Fortune Brands Home & Security, Inc.		9,327		549,267
Geberit AG		3,821		1,689,848
Johnson Controls International plc		56,084		1,976,400
LIXIL Group Corp.		27,469		609,108
Masco Corp.		18,975		767,349
TOTO, Ltd.		14,633		768,089
				16,093,830
Capital Markets—1.7%
3i Group plc		99,922		1,206,465
Affiliated Managers Group, Inc.		3,405		645,520
Ameriprise Financial, Inc.		8,915		1,318,885
Amundi S.A. (144A)		6,223		500,789
ASX, Ltd.		20,009		866,129
Bank of New York Mellon Corp. (The)		61,985		3,194,087
BlackRock, Inc.		7,510		4,068,317
Cboe Global Markets, Inc.		6,817		777,820
Charles Schwab Corp. (The)		72,245		3,772,634
CME Group, Inc.		20,585		3,329,418
Credit Suisse Group AG (a)		249,930		4,193,687
Daiwa Securities Group, Inc.		165,706		1,063,408
Deutsche Bank AG		212,728		2,966,114
Deutsche Boerse AG		19,907		2,711,843
E*Trade Financial Corp. (a)		16,315		904,014
Franklin Resources, Inc.		19,741		684,618
Goldman Sachs Group, Inc. (The)		21,250		5,352,025
Hargreaves Lansdown plc		26,885		617,027
Hong Kong Exchanges and Clearing, Ltd.		120,400		3,957,532
Intercontinental Exchange, Inc.		35,380		2,565,758
Invesco, Ltd.		24,620		788,086
Investec plc		68,614		529,985
Japan Exchange Group, Inc.		53,802		1,006,238
Julius Baer Group, Ltd. (a)		23,085		1,421,459
Kingston Financial Group, Ltd. (b)		420,300		190,152
London Stock Exchange Group plc		32,174		1,864,285
Macquarie Group, Ltd.		33,281		2,655,254
Moody’s Corp.		10,025		1,617,032
Morgan Stanley		84,360		4,552,066
Nasdaq, Inc.		6,970		600,953
Natixis S.A.		96,483		791,953
Nomura Holdings, Inc.		373,715		2,175,789
Northern Trust Corp.		12,990		1,339,659
Partners Group Holding AG		1,791		1,332,925
Raymond James Financial, Inc.		7,749		692,838
Capital Markets—(Continued)
S&P Global, Inc.		15,415		2,945,190
SBI Holdings, Inc.		20,720		488,229
Schroders plc		12,861		576,745
Singapore Exchange, Ltd.		82,000		463,073
St. James’s Place plc		54,521		832,349
State Street Corp.		22,390		2,232,955
T. Rowe Price Group, Inc.		14,690		1,586,079
UBS Group AG (a)		376,662		6,632,335
				82,011,719
Chemicals—1.8%
Air Liquide S.A.		43,955		5,389,739
Air Products & Chemicals, Inc.		13,245		2,106,352
Air Water, Inc.		15,424		303,003
Akzo Nobel NV		25,955		2,453,712
Albemarle Corp.		6,688		620,245
Arkema S.A.		7,039		919,169
Asahi Kasei Corp.		129,804		1,727,926
BASF SE		94,537		9,607,875
CF Industries Holdings, Inc. (b)		14,100		531,993
Chr Hansen Holding A/S		10,200		881,304
Clariant AG (a)		23,916		571,092
Covestro AG (144A)		12,506		1,230,985
Croda International plc		13,557		869,971
Daicel Corp.		28,876		316,358
DowDuPont, Inc.		141,724		9,029,236
Eastman Chemical Co.		8,680		916,434
Ecolab, Inc.		15,745		2,158,167
EMS-Chemie Holding AG		845		533,516
Evonik Industries AG		16,765		591,525
FMC Corp.		8,040		615,623
Frutarom Industries, Ltd.		3,977		365,589
Givaudan S.A.		953		2,172,250
Hitachi Chemical Co., Ltd.		10,769		239,717
Incitec Pivot, Ltd.		172,381		468,052
International Flavors & Fragrances, Inc.		4,785		655,114
Israel Chemicals, Ltd.		52,341		221,776
Johnson Matthey plc		19,898		850,639
JSR Corp.		19,815		444,983
K&S AG		19,738		569,751
Kaneka Corp.		28,705		286,650
Kansai Paint Co., Ltd.		21,161		495,465
Koninklijke DSM NV		18,713		1,860,757
Kuraray Co., Ltd.		36,647		636,675
LANXESS AG		9,449		724,473
Linde AG		19,158		3,846,265
LyondellBasell Industries NV - Class A		19,571		2,068,263
Mitsubishi Chemical Holdings Corp.		147,133		1,428,882
Mitsubishi Gas Chemical Co., Inc.		18,675		448,982
Mitsui Chemicals, Inc.		19,015		605,242
Monsanto Co.		26,580		3,101,620
Mosaic Co. (The)		21,180		514,250
Nippon Paint Holdings Co., Ltd.		16,830		619,427
Nissan Chemical Industries, Ltd.		12,523		521,483
Nitto Denko Corp.		17,027		1,290,896
Novozymes A/S - B Shares		23,325		1,207,887

BHFTI-3

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Chemicals—(Continued)
Orica, Ltd.		38,874	$	532,563
PPG Industries, Inc.		15,390		1,717,524
Praxair, Inc.		17,325		2,499,997
Sherwin-Williams Co. (The)		5,060		1,984,127
Shin-Etsu Chemical Co., Ltd.		40,029		4,161,346
Sika AG		222		1,740,080
Solvay S.A.		7,645		1,062,980
Sumitomo Chemical Co., Ltd.		161,502		933,810
Symrise AG		12,726		1,024,701
Taiyo Nippon Sanso Corp.		13,268		200,815
Teijin, Ltd.		19,289		367,271
Toray Industries, Inc.		150,920		1,433,387
Tosoh Corp.		30,213		596,745
Umicore S.A.		19,629		1,041,321
Yara International ASA		18,274		776,307
				87,092,287
Commercial Services & Supplies—0.2%
Babcock International Group plc		25,916		243,498
Brambles, Ltd.		163,290		1,256,706
Cintas Corp.		5,230		892,134
Dai Nippon Printing Co., Ltd.		26,755		556,939
Edenred		23,123		804,593
G4S plc		159,068		554,576
ISS A/S		17,260		640,489
Park24 Co., Ltd.		11,271		307,040
Republic Services, Inc.		13,685		906,358
Secom Co., Ltd.		21,657		1,611,261
Securitas AB - B Shares		32,179		548,026
Societe BIC S.A.		2,943		292,981
Sohgo Security Services Co., Ltd.		7,407		364,577
Stericycle, Inc. (a)		5,115		299,381
Toppan Printing Co., Ltd.		53,874		442,581
Waste Management, Inc.		24,135		2,030,236
				11,751,376
Communications Equipment—0.4%
Cisco Systems, Inc. (f)		299,600		12,849,844
F5 Networks, Inc. (a)		3,785		547,349
Juniper Networks, Inc.		22,720		552,778
Motorola Solutions, Inc.		9,800		1,031,940
Nokia Oyj		600,712		3,320,526
Telefonaktiebolaget LM Ericsson - B Shares (b)		316,096		2,005,907
				20,308,344
Construction & Engineering—0.3%
ACS Actividades de Construccion y Servicios S.A.		25,180		982,411
Boskalis Westminster		9,381		275,015
Bouygues S.A.		22,104		1,108,817
CIMIC Group, Ltd.		10,008		345,275
Eiffage S.A.		7,585		864,052
Ferrovial S.A.		50,576		1,057,507
Fluor Corp.		8,395		480,362
HOCHTIEF AG		1,990		371,949
Jacobs Engineering Group, Inc.		7,250		428,838
Construction & Engineering—(Continued)
JGC Corp.		21,208		462,687
Kajima Corp.		92,217		867,060
Obayashi Corp.		66,610		733,461
Quanta Services, Inc. (a)		9,285		318,940
Shimizu Corp.		56,614		505,444
Skanska AB - B Shares		35,127		718,618
Taisei Corp.		21,290		1,090,884
Vinci S.A.		51,945		5,114,561
				15,725,881
Construction Materials—0.2%
Boral, Ltd.		120,053		690,665
CRH plc		86,088		2,926,933
Fletcher Building, Ltd.		70,737		309,005
HeidelbergCement AG		15,350		1,508,172
Imerys S.A.		3,701		359,937
James Hardie Industries plc		45,247		799,368
LafargeHolcim, Ltd. (a)		46,851		2,566,043
Martin Marietta Materials, Inc.		3,812		790,228
Taiheiyo Cement Corp.		12,504		451,306
Vulcan Materials Co.		7,950		907,652
				11,309,309
Consumer Finance—0.2%
Acom Co., Ltd. (a)		40,470		181,891
AEON Financial Service Co., Ltd.		11,647		270,194
American Express Co.		43,580		4,065,143
Capital One Financial Corp.		29,365		2,813,754
Credit Saison Co., Ltd.		16,160		270,402
Discover Financial Services		21,985		1,581,381
Navient Corp.		15,935		209,067
Synchrony Financial		44,487		1,491,649
				10,883,481
Containers & Packaging—0.1%
Amcor, Ltd.		119,037		1,306,300
Avery Dennison Corp.		5,300		563,125
Ball Corp.		21,140		839,470
International Paper Co.		24,935		1,332,277
Packaging Corp. of America		5,699		642,277
Sealed Air Corp.		10,895		466,197
Toyo Seikan Group Holdings, Ltd.		16,900		252,615
WestRock Co.		15,395		987,897
				6,390,158
Distributors—0.0%
Genuine Parts Co.		8,815		791,940
Jardine Cycle & Carriage, Ltd.		10,200		269,576
LKQ Corp. (a)		18,632		707,084
				1,768,600
Diversified Consumer Services—0.0%
Benesse Holdings, Inc.		7,347		267,082
H&R Block, Inc.		12,655		321,564
				588,646

BHFTI-4

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Financial Services—0.7%
AMP, Ltd.		300,390	$	1,157,196
Berkshire Hathaway, Inc. - Class B (a) (f)		116,624		23,264,156
Challenger, Ltd.		59,332		529,846
Eurazeo S.A.		4,465		411,149
EXOR NV		11,193		799,704
First Pacific Co., Ltd.		219,700		119,941
Groupe Bruxelles Lambert S.A.		8,346		954,346
Industrivarden AB - C Shares		17,228		400,654
Investor AB - B Shares		46,871		2,086,361
Kinnevik AB - Class B		24,074		867,348
L E Lundbergforetagen AB - B Shares		3,931		281,883
Leucadia National Corp.		18,975		431,302
Mitsubishi UFJ Lease & Finance Co., Ltd.		45,420		270,732
ORIX Corp.		136,283		2,432,993
Pargesa Holding S.A.		4,020		356,707
Standard Life Aberdeen plc		275,687		1,393,176
Wendel S.A.		2,941		459,061
				36,216,555
Diversified Telecommunication Services—1.2%
AT&T, Inc. (f)		372,080		13,264,643
Bezeq The Israeli Telecommunication Corp., Ltd.		210,607		269,471
BT Group plc		867,679		2,772,507
CenturyLink, Inc.		58,913		967,941
Deutsche Telekom AG		343,059		5,596,387
Elisa Oyj (b)		14,611		661,794
HKT Trust & HKT, Ltd.		386,300		486,226
Iliad S.A.		2,729		564,863
Koninklijke KPN NV		350,983		1,053,690
Nippon Telegraph & Telephone Corp.		71,207		3,307,895
Orange S.A.		205,345		3,487,319
PCCW, Ltd.		429,700		249,304
Proximus SADP		15,653		486,066
Singapore Telecommunications, Ltd.		761,400		1,971,571
Singapore Telecommunications, Ltd.		78,800		203,134
Spark New Zealand, Ltd.		187,873		455,215
Swisscom AG (b)		2,672		1,325,171
TDC A/S (a)		83,245		690,550
Telecom Italia S.p.A. (a)		1,170,057		1,114,259
Telecom Italia S.p.A. - Risparmio Shares		617,964		516,163
Telefonica Deutschland Holding AG		75,629		355,357
Telefonica S.A.		466,675		4,625,236
Telenor ASA		77,211		1,756,122
Telia Co. AB		266,834		1,258,734
Telstra Corp., Ltd.		427,430		1,037,065
TPG Telecom, Ltd.		37,920		161,317
Verizon Communications, Inc. (f)		247,220		11,822,060
				60,460,060
Electric Utilities—1.0%
Alliant Energy Corp.		13,944		569,752
American Electric Power Co., Inc.		29,750		2,040,552
AusNet Services		182,311		236,105
Chubu Electric Power Co., Inc.		66,059		946,028
Chugoku Electric Power Co., Inc. (The)		28,245		344,412
CK Infrastructure Holdings, Ltd.		67,900		558,072
Electric Utilities—(Continued)
CLP Holdings, Ltd.		168,882		1,726,373
Duke Energy Corp.		42,415		3,285,890
Edison International		19,745		1,256,967
EDP - Energias de Portugal S.A.		243,702		926,735
Electricite de France S.A.		59,437		861,889
Endesa S.A.		32,771		721,674
Enel S.p.A.		837,144		5,129,316
Entergy Corp.		10,825		852,793
Eversource Energy		19,165		1,129,202
Exelon Corp.		58,124		2,267,417
FirstEnergy Corp.		27,025		919,120
Fortum Oyj (b)		45,815		985,110
HK Electric Investments & HK Electric Investments, Ltd. (144A)		271,700		262,725
Iberdrola S.A.		585,221		4,304,428
Kansai Electric Power Co., Inc. (The)		72,236		942,813
Kyushu Electric Power Co., Inc.		43,734		528,291
Mercury NZ, Ltd.		68,803		160,568
NextEra Energy, Inc.		28,445		4,645,922
Orsted A/S (b) (144A)		19,471		1,267,753
PG&E Corp.		31,045		1,363,807
Pinnacle West Capital Corp.		6,750		538,650
Power Assets Holdings, Ltd.		142,500		1,275,931
PPL Corp.		41,315		1,168,801
Red Electrica Corp. S.A.		44,648		919,700
Southern Co. (The)		60,795		2,715,105
SSE plc		102,646		1,839,675
Terna Rete Elettrica Nazionale S.p.A.		144,304		844,272
Tohoku Electric Power Co., Inc.		46,390		630,333
Tokyo Electric Power Co. Holdings, Inc. (a)		148,275		579,399
Xcel Energy, Inc.		30,710		1,396,691
				50,142,271
Electrical Equipment—0.6%
ABB, Ltd.		189,688		4,517,294
Acuity Brands, Inc. (b)		2,497		347,557
AMETEK, Inc.		13,967		1,061,073
Eaton Corp. plc		26,638		2,128,643
Emerson Electric Co.		38,895		2,656,528
Fuji Electric Co., Ltd.		56,922		392,418
Legrand S.A.		27,440		2,153,639
Mabuchi Motor Co., Ltd.		4,983		247,183
Mitsubishi Electric Corp.		198,905		3,232,829
Nidec Corp.		24,550		3,765,868
OSRAM Licht AG		10,237		753,767
Prysmian S.p.A.		21,265		669,043
Rockwell Automation, Inc.		7,745		1,349,179
Schneider Electric SE		58,342		5,131,812
Siemens Gamesa Renewable Energy S.A. (b)		24,441		392,373
Vestas Wind Systems A/S		22,228		1,591,487
				30,390,693
Electronic Equipment, Instruments & Components—0.6%
Alps Electric Co., Ltd. (b)		20,506		507,755
Amphenol Corp. - Class A		18,470		1,590,821
Corning, Inc.		52,640		1,467,603

BHFTI-5

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—(Continued)
FLIR Systems, Inc.		8,305	$	415,333
Hamamatsu Photonics KK		14,656		562,681
Hexagon AB - B Shares		26,665		1,597,533
Hirose Electric Co., Ltd.		3,460		479,777
Hitachi High-Technologies Corp.		7,136		341,486
Hitachi, Ltd.		497,496		3,629,451
Ingenico Group S.A.		6,098		496,161
IPG Photonics Corp. (a)		2,281		532,340
Keyence Corp.		10,014		6,268,114
Kyocera Corp.		33,035		1,872,570
Murata Manufacturing Co., Ltd.		19,709		2,720,653
Nippon Electric Glass Co., Ltd.		8,678		253,029
Omron Corp.		19,862		1,165,613
Shimadzu Corp.		25,858		716,476
TDK Corp.		13,367		1,191,619
TE Connectivity, Ltd.		23,500		2,347,650
Yaskawa Electric Corp. (b)		26,149		1,187,449
Yokogawa Electric Corp.		23,433		475,800
				29,819,914
Energy Equipment & Services—0.3%
Baker Hughes a GE Co.		25,925		719,937
Halliburton Co.		52,850		2,480,779
Helmerich & Payne, Inc.		6,505		432,973
John Wood Group plc		69,345		526,026
National Oilwell Varco, Inc.		23,005		846,814
Schlumberger, Ltd.		83,937		5,437,439
TechnipFMC plc		26,536		781,485
Tenaris S.A.		48,442		837,492
				12,062,945
Equity Real Estate Investment Trusts—3.7%
Acadia Realty Trust (b)		9,005		221,523
Activia Properties, Inc.		69		309,570
Advance Residence Investment Corp.		138		351,099
Aedifica S.A.		1,977		182,023
AEON REIT Investment Corp.		161		169,919
Agree Realty Corp.		3,050		146,522
Alexander’s, Inc.		228		86,920
Alexandria Real Estate Equities, Inc.		17,062		2,130,873
Allied Properties Real Estate Investment Trust		10,170		320,173
Alstria Office REIT-AG		16,050		251,653
American Assets Trust, Inc.		4,350		145,334
American Campus Communities, Inc.		14,877		574,550
American Homes 4 Rent - Class A		26,403		530,172
American Tower Corp.		25,945		3,770,846
Apartment Investment & Management Co. - Class A		26,565		1,082,524
Apple Hospitality REIT, Inc.		22,900		402,353
Artis Real Estate Investment Trust		16,500		174,048
Ascendas Real Estate Investment Trust		515,150		1,036,728
Ashford Hospitality Trust, Inc.		8,350		53,941
Assura plc		256,700		213,566
AvalonBay Communities, Inc.		23,384		3,845,733
Axiare Patrimonio SOCIMI S.A.		1,130		22,979
Befimmo S.A.		2,100		135,681
Beni Stabili S.p.A. SIIQ		111,657		93,022
Equity Real Estate Investment Trusts—(Continued)
Big Yellow Group plc		15,900		190,455
Boardwalk Real Estate Investment Trust		4,150		142,601
Boston Properties, Inc.		26,175		3,225,283
Brandywine Realty Trust		18,826		298,957
British Land Co. plc (The)		207,989		1,876,048
Brixmor Property Group, Inc.		33,364		508,801
BWP Trust		53,348		123,919
Camden Property Trust		9,950		837,591
Canadian Apartment Properties REIT		15,000		432,530
Canadian Real Estate Investment Trust		8,000		311,779
Capital & Regional plc		59,200		44,851
CapitaLand Commercial Trust, Ltd.		516,100		724,006
CapitaLand Mall Trust		505,200		803,949
CareTrust REIT, Inc.		8,150		109,210
CBL & Associates Properties, Inc. (b)		18,300		76,311
CDL Hospitality Trusts		84,950		109,956
Champion REIT		213,250		152,441
Charter Hall Retail REIT		36,950		109,480
Chatham Lodging Trust		4,850		92,878
Chesapeake Lodging Trust		6,407		178,179
Cofinimmo S.A.		2,245		291,196
Columbia Property Trust, Inc.		13,050		267,003
Cominar Real Estate Investment Trust		18,331		183,402
Corporate Office Properties Trust		10,850		280,255
Cousins Properties, Inc.		45,380		393,898
Crombie Real Estate Investment Trust		9,700		94,640
Cromwell Property Group		161,200		132,401
Crown Castle International Corp.		24,610		2,697,502
CubeSmart		19,671		554,722
Custodian REIT plc		38,900		61,689
Daiwa House REIT Investment Co.		337		815,867
Daiwa Office Investment Corp.		31		180,087
DCT Industrial Trust, Inc.		10,202		574,781
DDR Corp.		33,750		247,388
Derwent London plc		11,000		479,045
Dexus		216,516		1,556,906
DiamondRock Hospitality Co.		21,700		226,548
Digital Realty Trust, Inc.		34,775		3,664,589
Douglas Emmett, Inc.		17,366		638,374
Dream Global Real Estate Investment Trust		17,900		191,039
Dream Office Real Estate Investment Trust		8,100		146,804
Duke Realty Corp.		60,357		1,598,253
Easterly Government Properties, Inc. (b)		4,575		93,330
EastGroup Properties, Inc.		3,683		304,437
Education Realty Trust, Inc.		8,266		270,712
Empire State Realty Trust, Inc. - Class A (b)		14,029		235,547
Empiric Student Property plc		64,250		74,303
EPR Properties		6,847		379,324
Equinix, Inc.		4,817		2,014,180
Equity Lifestyle Properties, Inc.		9,069		795,986
Equity Residential		61,180		3,769,912
Essex Property Trust, Inc.		11,200		2,695,616
Eurocommercial Properties NV		5,250		217,154
Extra Space Storage, Inc.		20,853		1,821,718
Federal Realty Investment Trust		12,384		1,437,906
First Industrial Realty Trust, Inc.		12,900		377,067
Fonciere Des Regions		7,765		857,337

BHFTI-6

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Forest City Realty Trust, Inc. - Class A		26,500	$	536,890
Fortune Real Estate Investment Trust		144,500		175,558
Four Corners Property Trust, Inc.		6,700		154,703
Franklin Street Properties Corp.		11,350		95,454
Frontier Real Estate Investment Corp.		49		200,757
Fukuoka REIT Corp.		69		108,320
Gaming and Leisure Properties, Inc.		21,946		734,533
GCP Student Living plc		42,200		82,328
Gecina S.A.		9,962		1,731,494
Getty Realty Corp.		3,315		83,604
GGP, Inc.		105,161		2,151,594
Global Net Lease, Inc. (b)		7,350		124,068
GLP J-Reit		328		363,516
Goodman Group		377,953		2,456,386
Government Properties Income Trust		10,585		144,591
GPT Group (The)		382,304		1,397,689
Gramercy Property Trust		17,356		377,146
Granite Real Estate Investment Trust		5,150		203,106
Great Portland Estates plc		30,812		287,855
Green REIT plc		75,000		139,793
H&R Real Estate Investment Trust		31,894		520,612
Hamborner REIT AG		8,300		96,368
Hammerson plc		168,254		1,268,450
Hansteen Holdings plc		44,082		79,029
HCP, Inc.		79,775		1,853,173
Healthcare Realty Trust, Inc.		13,310		368,820
Healthcare Trust of America, Inc. - Class A (b)		22,125		585,206
Hersha Hospitality Trust		4,212		75,395
Hibernia REIT plc		75,950		134,931
Highwoods Properties, Inc.		11,100		486,402
Hispania Activos Inmobiliarios SOCIMI S.A.		9,700		206,369
Hospitality Properties Trust		17,700		448,518
Host Hotels & Resorts, Inc.		124,585		2,322,264
Hudson Pacific Properties, Inc.		17,063		555,059
Hulic Reit, Inc.		107		163,034
Icade		7,361		715,380
Immobiliare Grande Distribuzione SIIQ S.p.A.		3,949		36,984
Industrial & Infrastructure Fund Investment Corp.		159		178,838
Inmobiliaria Colonial Socimi S.A.		31,300		362,184
Intervest Offices & Warehouses NV		1,700		48,219
Intu Properties plc		97,088		283,141
Investa Office Fund		59,912		199,180
Investors Real Estate Trust		13,058		67,771
Invincible Investment Corp.		416		192,514
Invitation Homes, Inc.		32,021		731,039
Irish Residential Properties REIT plc		38,400		65,853
Iron Mountain, Inc.		17,049		560,230
Japan Excellent, Inc.		131		169,694
Japan Hotel REIT Investment Corp.		440		313,759
Japan Logistics Fund, Inc.		96		194,392
Japan Prime Realty Investment Corp.		180		653,798
Japan Real Estate Investment Corp.		264		1,374,074
Japan Rental Housing Investments, Inc.		164		126,828
Japan Retail Fund Investment Corp.		568		1,104,184
JBG SMITH Properties		9,375		316,031
Kenedix Office Investment Corp.		39		237,867
Kenedix Retail REIT Corp.		55		120,216
Equity Real Estate Investment Trusts—(Continued)
Keppel REIT		213,550		197,890
Killam Apartment Real Estate Investment Trust		8,750		94,268
Kilroy Realty Corp.		10,534		747,493
Kimco Realty Corp.		70,888		1,020,787
Kite Realty Group Trust		8,962		136,491
Kiwi Property Group, Ltd.		155,513		150,926
Klepierre		44,691		1,803,281
Land Securities Group plc		154,192		2,030,115
Lar Espana Real Estate Socimi S.A.		9,800		117,612
LaSalle Hotel Properties (b)		12,350		358,273
Lexington Realty Trust		25,550		201,079
Liberty Property Trust		16,050		637,666
Life Storage, Inc.		5,031		420,189
Link REIT		465,150		3,989,296
LondonMetric Property plc		70,000		175,006
LTC Properties, Inc.		4,250		161,500
Macerich Co. (The)		21,477		1,203,142
Mack-Cali Realty Corp.		9,807		163,875
Mapletree Commercial Trust		208,294		250,086
Mapletree Industrial Trust		143,900		223,603
Mapletree Logistics Trust		224,210		211,144
Medical Properties Trust, Inc.		39,545		514,085
Mercialys S.A.		4,450		85,493
Merlin Properties Socimi S.A.		36,734		562,438
Mid-America Apartment Communities, Inc.		19,270		1,758,195
Mirvac Group		786,014		1,303,771
Monmouth Real Estate Investment Corp.		8,050		121,072
Mori Hills REIT Investment Corp.		158		200,053
Mori Trust Sogo REIT, Inc.		108		158,956
National Health Investors, Inc.		4,400		296,076
National Retail Properties, Inc.		16,733		656,938
National Storage Affiliates Trust		5,450		136,686
New Senior Investment Group, Inc.		8,900		72,802
NewRiver REIT plc (London Exchange)		32,650		132,061
Nippon Accommodations Fund, Inc.		49		216,225
Nippon Building Fund, Inc.		278		1,544,284
Nippon Prologis REIT, Inc.		385		835,724
Nomura Real Estate Master Fund, Inc.		826		1,151,294
Northview Apartment Real Estate Investment Trust		5,600		112,143
NorthWest Healthcare Properties Real Estate Investment Trust		9,600		83,977
NSI NV		1,899		79,920
Omega Healthcare Investors, Inc. (b)		21,220		573,789
Orix JREIT, Inc.		280		435,298
Paramount Group, Inc.		22,474		320,030
Park Hotels & Resorts, Inc.		19,495		526,755
Pebblebrook Hotel Trust (b)		7,450		255,908
Pennsylvania Real Estate Investment Trust (b)		7,400		71,410
Physicians Realty Trust		19,519		303,911
Piedmont Office Realty Trust, Inc. - Class A		15,500		272,645
Premier Investment Corp.		138		145,583
Primary Health Properties plc (a) (e)		3,810		118
Primary Health Properties plc		64,776		100,158
ProLogis, Inc.		89,870		5,660,911
PS Business Parks, Inc.		2,150		243,036
Public Storage (b)		25,296		5,069,065
Pure Industrial Real Estate Trust		33,550		209,370

BHFTI-7

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
QTS Realty Trust, Inc. - Class A		5,350	$	193,777
Quality Care Properties, Inc. (a)		10,240		198,963
Ramco-Gershenson Properties Trust		8,528		105,406
RDI REIT plc		137,850		62,033
Realty Income Corp. (b)		47,913		2,478,539
Regency Centers Corp.		25,228		1,487,947
Regional REIT, Ltd. (144A)		34,850		48,499
Retail Estates NV		600		53,530
Retail Opportunity Investments Corp.		11,735		207,357
Retail Properties of America, Inc. - Class A		23,950		279,257
Rexford Industrial Realty, Inc.		8,400		241,836
RioCan Real Estate Investment Trust		35,588		653,006
RLJ Lodging Trust (b)		18,395		357,599
Ryman Hospitality Properties, Inc.		4,836		374,548
Sabra Health Care REIT, Inc.		19,255		339,851
Safestore Holdings plc		22,300		153,791
Saul Centers, Inc.		1,257		64,069
SBA Communications Corp. (a)		7,072		1,208,746
Scentre Group		1,108,462		3,274,449
Segro plc		211,593		1,786,699
Sekisui House Reit, Inc.		96		128,990
Sekisui House SI Residential Investment Corp.		116		127,751
Select Income REIT		6,855		133,535
Senior Housing Properties Trust		25,700		402,462
Seritage Growth Properties - Class A (b)		2,750		97,763
Shaftesbury plc		25,100		346,209
Shopping Centres Australasia Property Group		81,500		146,063
Simon Property Group, Inc.		52,875		8,161,256
SL Green Realty Corp.		15,440		1,495,055
Smart Real Estate Investment Trust		12,850		290,343
Spirit Realty Capital, Inc.		49,762		386,153
STAG Industrial, Inc.		10,285		246,017
Stockland		513,188		1,591,585
STORE Capital Corp. (b)		18,612		461,950
Summit Hotel Properties, Inc.		11,250		153,113
Sun Communities, Inc.		8,296		758,006
Sunstone Hotel Investors, Inc.		24,506		372,981
Suntec Real Estate Investment Trust		533,200		772,898
Tanger Factory Outlet Centers, Inc. (b)		10,050		221,100
Target Healthcare REIT, Ltd.		32,650		47,197
Taubman Centers, Inc.		6,450		367,069
Terreno Realty Corp.		5,900		203,609
Tier REIT, Inc.		5,150		95,172
Tokyu REIT, Inc.		96		130,798
Tritax Big Box REIT plc		149,350		302,486
UDR, Inc.		45,140		1,607,887
Unibail-Rodamco SE (Paris Exchange)		21,155		4,842,527
UNITE Group plc (The)		26,050		289,497
United Urban Investment Corp.		636		994,221
Universal Health Realty Income Trust		1,400		84,140
Urban Edge Properties		11,200		239,120
Urstadt Biddle Properties, Inc. - Class A		3,200		61,760
Vastned Retail NV		2,007		95,754
Ventas, Inc.		60,290		2,986,164
VEREIT, Inc.		106,800		743,328
VICI Properties, Inc.		29,519		540,788
Vicinity Centres		699,064		1,299,352
Equity Real Estate Investment Trusts—(Continued)
Vornado Realty Trust		29,180		1,963,814
Warehouses De Pauw SCA		1,817		225,855
Washington Prime Group, Inc. (b)		20,250		135,068
Washington Real Estate Investment Trust		8,544		233,251
Weingarten Realty Investors		13,108		368,073
Welltower, Inc.		62,995		3,428,818
Wereldhave Belgium NV		250		29,288
Wereldhave NV		4,400		168,372
Westfield Corp.		412,932		2,712,500
Weyerhaeuser Co.		45,692		1,599,220
Workspace Group plc		13,200		183,893
WP Carey, Inc.		11,551		716,046
Xenia Hotels & Resorts, Inc.		11,650		229,738
Xior Student Housing NV		650		29,274
				181,308,199
Food & Staples Retailing—0.9%
Aeon Co., Ltd.		62,644		1,118,072
Carrefour S.A.		59,802		1,242,046
Casino Guichard Perrachon S.A. (b)		5,724		280,661
Colruyt S.A.		6,239		344,919
Costco Wholesale Corp.		26,495		4,992,453
CVS Health Corp.		61,315		3,814,406
FamilyMart UNY Holdings Co., Ltd.		8,504		712,274
ICA Gruppen AB		8,311		294,249
J Sainsbury plc		168,146		563,553
Jeronimo Martins SGPS S.A.		25,977		473,742
Koninklijke Ahold Delhaize NV		131,880		3,127,047
Kroger Co. (The)		53,860		1,289,408
Lawson, Inc.		5,173		353,565
METRO AG		18,573		328,890
Seven & i Holdings Co., Ltd.		77,554		3,327,447
Sundrug Co., Ltd.		7,600		355,911
Sysco Corp.		29,045		1,741,538
Tesco plc		842,626		2,434,790
Tsuruha Holdings, Inc.		3,799		547,153
Walgreens Boots Alliance, Inc.		52,595		3,443,395
Walmart, Inc. (f)		88,674		7,889,326
Wesfarmers, Ltd.		116,704		3,744,606
WM Morrison Supermarkets plc		230,178		689,714
Woolworths Group, Ltd.		133,231		2,700,203
				45,809,368
Food Products—1.2%
Ajinomoto Co., Inc.		56,036		1,018,161
Archer-Daniels-Midland Co.		33,855		1,468,291
Associated British Foods plc		36,746		1,284,640
Barry Callebaut AG		228		445,672
Calbee, Inc. (b)		8,277		281,027
Campbell Soup Co. (b)		11,590		501,963
Chocoladefabriken Lindt & Spruengli AG		11		800,066
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		108		669,767
Conagra Brands, Inc.		24,740		912,411
Danone S.A.		62,131		5,032,268
General Mills, Inc.		34,360		1,548,262

BHFTI-8

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Food Products—(Continued)
Golden Agri-Resources, Ltd.		715,600	$	191,767
Hershey Co. (The)		8,465		837,696
Hormel Foods Corp. (b)		16,310		559,759
J.M. Smucker Co. (The)		6,885		853,809
Kellogg Co.		15,055		978,726
Kerry Group plc - Class A		16,349		1,662,455
Kikkoman Corp.		15,129		613,884
Kraft Heinz Co. (The)		36,123		2,250,102
Marine Harvest ASA		42,975		863,492
McCormick & Co., Inc.		7,170		762,816
MEIJI Holdings Co., Ltd.		12,599		969,388
Mondelez International, Inc. - Class A		90,560		3,779,069
Nestle S.A.		320,327		25,359,132
NH Foods, Ltd.		9,349		385,508
Nisshin Seifun Group, Inc.		20,262		404,853
Nissin Foods Holdings Co., Ltd.		6,045		420,699
Orkla ASA		83,582		898,494
Toyo Suisan Kaisha, Ltd.		9,147		362,381
Tyson Foods, Inc. - Class A		17,950		1,313,760
WH Group, Ltd. (144A)		905,200		972,995
Wilmar International, Ltd.		164,039		399,593
Yakult Honsha Co., Ltd.		9,053		680,090
Yamazaki Baking Co., Ltd.		13,673		286,675
				59,769,671
Gas Utilities—0.1%
APA Group		120,957		734,488
Gas Natural SDG S.A.		36,126		862,894
Hong Kong & China Gas Co., Ltd.		863,048		1,779,380
Osaka Gas Co., Ltd.		38,705		769,382
Toho Gas Co., Ltd.		7,609		238,379
Tokyo Gas Co., Ltd.		40,076		1,070,315
				5,454,838
Health Care Equipment & Supplies—1.2%
Abbott Laboratories		105,470		6,319,762
Align Technology, Inc. (a)		4,399		1,104,721
Baxter International, Inc.		30,300		1,970,712
Becton Dickinson & Co.		16,057		3,479,552
BioMerieux		4,264		352,088
Boston Scientific Corp. (a)		83,180		2,272,478
Cochlear, Ltd.		5,919		830,518
Coloplast A/S - Class B		12,254		1,038,557
ConvaTec Group plc (144A)		139,041		389,047
Cooper Cos., Inc. (The)		2,976		680,939
CYBERDYNE, Inc. (a)		9,856		141,137
Danaher Corp.		37,060		3,628,545
DENTSPLY SIRONA, Inc.		13,907		699,661
Edwards Lifesciences Corp. (a)		12,760		1,780,275
Essilor International Cie Generale d’Optique S.A.		21,359		2,883,228
Fisher & Paykel Healthcare Corp., Ltd.		58,729		564,096
Getinge AB - B Shares		23,593		268,555
Hologic, Inc. (a)		16,663		622,530
Hoya Corp.		40,101		2,030,858
IDEXX Laboratories, Inc. (a)		5,291		1,012,644
Intuitive Surgical, Inc. (a)		6,860		2,832,014
Health Care Equipment & Supplies—(Continued)
Koninklijke Philips NV		96,846		3,721,794
Medtronic plc		81,979		6,576,355
Olympus Corp.		30,043		1,151,574
ResMed, Inc.		8,583		845,168
Siemens Healthineers AG (a) (144A)		15,473		635,894
Smith & Nephew plc		89,963		1,681,761
Sonova Holding AG		5,399		858,168
Straumann Holding AG		1,063		670,231
Stryker Corp.		19,470		3,133,112
Sysmex Corp.		16,141		1,466,700
Terumo Corp.		33,295		1,726,036
Varian Medical Systems, Inc. (a)		5,525		677,641
William Demant Holding A/S (a)		12,020		447,539
Zimmer Biomet Holdings, Inc.		12,235		1,334,104
				59,827,994
Health Care Providers & Services—1.0%
Aetna, Inc.		19,744		3,336,736
Alfresa Holdings Corp.		19,357		435,606
AmerisourceBergen Corp.		9,685		834,944
Anthem, Inc.		15,580		3,422,926
Cardinal Health, Inc.		19,030		1,192,800
Centene Corp. (a)		10,409		1,112,410
Chartwell Retirement Residences		23,050		279,996
Cigna Corp.		14,925		2,503,519
DaVita, Inc. (a)		9,130		602,032
Envision Healthcare Corp. (a)		7,319		281,269
Express Scripts Holding Co. (a)		34,314		2,370,411
Fresenius Medical Care AG & Co. KGaA		22,184		2,265,126
Fresenius SE & Co. KGaA		42,830		3,271,478
HCA Healthcare, Inc.		17,169		1,665,393
Healthscope, Ltd.		176,411		263,291
Henry Schein, Inc. (a)		9,506		638,898
Humana, Inc.		8,700		2,338,821
Laboratory Corp. of America Holdings (a)		6,125		990,719
McKesson Corp.		12,655		1,782,710
Mediclinic International plc		37,790		319,120
Medipal Holdings Corp.		17,655		368,517
Quest Diagnostics, Inc.		8,205		822,962
Ramsay Health Care, Ltd.		14,635		704,621
Ryman Healthcare, Ltd.		41,007		314,793
Sonic Healthcare, Ltd.		41,076		724,139
Suzuken Co., Ltd.		7,426		312,132
UnitedHealth Group, Inc.		58,700		12,561,800
Universal Health Services, Inc. - Class B		5,300		627,573
				46,344,742
Health Care Technology—0.0%
Cerner Corp. (a)		19,060		1,105,480
M3, Inc.		21,751		996,368
				2,101,848
Hotels, Restaurants & Leisure—1.0%
Accor S.A.		19,321		1,043,708
Aristocrat Leisure, Ltd.		55,983		1,043,688

BHFTI-9

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hotels, Restaurants & Leisure—(Continued)
Carnival Corp.		24,620	$	1,614,580
Carnival plc		19,327		1,245,355
Chipotle Mexican Grill, Inc. (a) (b)		1,515		489,512
Compass Group plc		162,772		3,326,115
Crown Resorts, Ltd.		38,995		382,529
Darden Restaurants, Inc.		7,475		637,244
Domino’s Pizza Enterprises, Ltd.		6,429		206,783
Flight Centre Travel Group, Ltd.		5,780		254,323
Galaxy Entertainment Group, Ltd.		241,971		2,218,088
Genting Singapore plc		619,900		513,738
GVC Holdings plc		56,133		724,574
Hilton Worldwide Holdings, Inc.		12,208		961,502
InterContinental Hotels Group plc		18,617		1,116,342
Marriott International, Inc. - Class A		18,507		2,516,582
McDonald’s Corp.		48,340		7,559,409
McDonald’s Holdings Co. Japan, Ltd.		6,917		327,627
Melco Resorts & Entertainment, Ltd. (ADR)		25,298		733,136
Merlin Entertainments plc (144A)		72,897		354,764
MGM China Holdings, Ltd.		97,300		254,208
MGM Resorts International		30,804		1,078,756
Norwegian Cruise Line Holdings, Ltd. (a)		10,727		568,209
Oriental Land Co., Ltd.		22,508		2,304,769
Paddy Power Betfair plc		8,254		848,053
Pandox AB		8,236		147,842
Royal Caribbean Cruises, Ltd.		10,314		1,214,370
Sands China, Ltd.		248,635		1,350,088
Shangri-La Asia, Ltd.		126,900		257,520
SJM Holdings, Ltd.		199,356		174,697
Sodexo S.A.		9,315		939,809
Starbucks Corp.		86,160		4,987,802
Tabcorp Holdings, Ltd.		193,319		655,438
TUI AG		45,429		975,291
Whitbread plc		18,917		984,617
Wyndham Worldwide Corp.		6,065		694,018
Wynn Macau, Ltd.		158,878		582,643
Wynn Resorts, Ltd.		4,850		884,446
Yum! Brands, Inc.		20,340		1,731,544
				47,903,719
Household Durables—0.5%
Barratt Developments plc		103,866		773,676
Berkeley Group Holdings plc		13,336		709,790
Casio Computer Co., Ltd. (b)		19,916		296,665
D.R. Horton, Inc.		20,650		905,296
Electrolux AB - Series B		24,815		780,868
Garmin, Ltd.		6,670		393,063
Husqvarna AB - B Shares		42,715		412,065
Iida Group Holdings Co., Ltd.		15,250		284,454
Leggett & Platt, Inc. (b)		7,980		353,993
Lennar Corp. - Class A		13,495		795,395
Mohawk Industries, Inc. (a)		3,860		896,369
Newell Brands, Inc.		29,695		756,629
Nikon Corp.		34,988		631,544
Panasonic Corp.		227,238		3,245,949
Persimmon plc		31,833		1,131,741
PulteGroup, Inc.		16,380		483,046
Household Durables—(Continued)
Rinnai Corp.		3,454		328,919
SEB S.A.		2,323		444,048
Sekisui Chemical Co., Ltd.		41,300		722,666
Sekisui House, Ltd.		60,555		1,113,251
Sharp Corp. (a) (b)		15,474		464,271
Sony Corp.		130,141		6,337,773
Taylor Wimpey plc		335,577		870,505
Techtronic Industries Co., Ltd.		140,900		832,295
Whirlpool Corp.		4,330		662,966
				24,627,237
Household Products—0.6%
Church & Dwight Co., Inc.		15,102		760,537
Clorox Co. (The)		7,815		1,040,255
Colgate-Palmolive Co.		53,150		3,809,792
Essity AB - Class B (a)		62,360		1,724,369
Henkel AG & Co. KGaA		10,719		1,349,095
Kimberly-Clark Corp.		21,235		2,338,610
Lion Corp.		22,983		471,375
Procter & Gamble Co. (The) (f)		154,406		12,241,308
Reckitt Benckiser Group plc		68,788		5,829,021
Unicharm Corp.		41,624		1,207,162
				30,771,524
Independent Power and Renewable Electricity Producers—0.1%
AES Corp.		39,985		454,629
Electric Power Development Co., Ltd.		15,051		387,472
Meridian Energy, Ltd.		131,378		271,788
NRG Energy, Inc.		18,205		555,799
Uniper SE		20,717		631,411
				2,301,099
Industrial Conglomerates—0.9%
3M Co.		36,145		7,934,550
CK Hutchison Holdings, Ltd.		277,946		3,341,632
DCC plc		9,188		846,628
General Electric Co. (f)		525,472		7,083,362
Honeywell International, Inc.		46,160		6,670,582
Jardine Matheson Holdings, Ltd.		22,400		1,381,714
Jardine Strategic Holdings, Ltd.		22,800		877,201
Keihan Holdings Co., Ltd.		9,862		305,794
Keppel Corp., Ltd.		149,000		889,686
NWS Holdings, Ltd.		158,100		288,036
Roper Technologies, Inc.		6,190		1,737,471
Seibu Holdings, Inc.		22,889		400,236
Sembcorp Industries, Ltd.		99,600		238,510
Siemens AG		78,740		10,043,299
Smiths Group plc		40,829		868,253
Toshiba Corp. (a)		692,225		2,011,493
				44,918,447
Insurance—2.5%
Admiral Group plc		20,608		533,668
Aegon NV		181,061		1,222,714
Aflac, Inc.		47,570		2,081,663

BHFTI-10

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Ageas		19,439	$	1,004,981
AIA Group, Ltd.		1,242,673		10,608,542
Allianz SE		46,269		10,456,535
Allstate Corp. (The)		21,665		2,053,842
American International Group, Inc.		54,471		2,964,312
Aon plc		15,080		2,116,176
Arthur J. Gallagher & Co.		10,942		752,044
Assicurazioni Generali S.p.A.		128,594		2,479,222
Assurant, Inc.		3,205		292,969
Aviva plc		414,953		2,891,701
AXA S.A.		199,618		5,314,218
Baloise Holding AG		5,023		768,752
Brighthouse Financial, Inc. (a) (g)		5,779		297,041
Chubb, Ltd.		28,167		3,852,401
Cincinnati Financial Corp.		9,010		669,083
CNP Assurances		17,625		445,016
Dai-ichi Life Holdings, Inc.		110,968		2,060,250
Direct Line Insurance Group plc		140,963		754,734
Everest Re Group, Ltd.		2,528		649,241
Gjensidige Forsikring ASA		20,548		377,021
Hannover Rueck SE		6,207		847,709
Hartford Financial Services Group, Inc. (The)		21,540		1,109,741
Insurance Australia Group, Ltd.		243,273		1,404,378
Japan Post Holdings Co., Ltd.		162,110		1,969,027
Legal & General Group plc		612,854		2,220,014
Lincoln National Corp.		13,240		967,314
Loews Corp.		16,640		827,507
Mapfre S.A.		109,662		364,738
Marsh & McLennan Cos., Inc.		30,850		2,547,901
Medibank Private, Ltd.		282,028		632,411
MetLife, Inc. (g)		63,675		2,922,046
MS&AD Insurance Group Holdings, Inc.		48,837		1,518,384
Muenchener Rueckversicherungs-Gesellschaft AG		15,991		3,719,012
NN Group NV		31,348		1,392,197
Old Mutual plc		506,600		1,703,509
Poste Italiane S.p.A. (144A)		53,195		486,895
Principal Financial Group, Inc.		16,175		985,219
Progressive Corp. (The)		35,205		2,145,041
Prudential Financial, Inc.		25,630		2,653,986
Prudential plc		266,157		6,653,215
QBE Insurance Group, Ltd.		140,899		1,046,610
RSA Insurance Group plc		104,860		927,642
Sampo Oyj - A Shares		46,013		2,566,338
SCOR SE		17,835		730,459
Sompo Holdings, Inc.		36,416		1,471,648
Sony Financial Holdings, Inc.		17,970		329,371
Suncorp Group, Ltd.		132,874		1,366,776
Swiss Life Holding AG (a)		3,352		1,194,220
Swiss Re AG (b)		32,372		3,296,232
T&D Holdings, Inc.		53,934		861,293
Tokio Marine Holdings, Inc.		69,757		3,177,172
Torchmark Corp.		6,455		543,317
Travelers Cos., Inc. (The)		16,580		2,302,299
Tryg A/S		11,704		272,988
UnipolSai Assicurazioni S.p.A.		101,535		241,808
Unum Group		13,595		647,258
Willis Towers Watson plc		7,967		1,212,498
Insurance—(Continued)
XL Group, Ltd.		15,465		854,596
Zurich Insurance Group AG (a)		15,577		5,111,354
				119,870,249
Internet & Direct Marketing Retail—1.1%
Amazon.com, Inc. (a)		24,250		35,097,995
Booking Holdings, Inc. (a)		2,995		6,230,768
Expedia Group, Inc.		7,385		815,378
Netflix, Inc. (a)		26,281		7,762,093
Rakuten, Inc.		95,577		789,769
Start Today Co., Ltd.		19,246		502,766
TripAdvisor, Inc. (a)		6,505		265,990
Zalando SE (a) (144A)		11,513		628,078
				52,092,837
Internet Software & Services—1.4%
Akamai Technologies, Inc. (a)		10,210		724,706
Alphabet, Inc. - Class A (a) (f)		18,140		18,813,720
Alphabet, Inc. - Class C (a) (f)		18,366		18,949,855
Auto Trader Group plc (144A)		98,767		486,171
DeNA Co., Ltd.		10,937		200,335
eBay, Inc. (a)		58,775		2,365,106
Facebook, Inc. - Class A (a)		144,546		23,097,005
Kakaku.com, Inc.		14,381		253,749
Mixi, Inc.		4,413		164,815
REA Group, Ltd.		5,478		335,044
United Internet AG		12,701		799,883
VeriSign, Inc. (a) (b)		5,135		608,806
Yahoo Japan Corp.		145,972		684,970
				67,484,165
IT Services—1.5%
Accenture plc - Class A (b)		37,395		5,740,132
Alliance Data Systems Corp.		2,950		627,937
Amadeus IT Group S.A. (b)		45,167		3,339,079
Atos SE		9,767		1,337,266
Automatic Data Processing, Inc.		26,795		3,040,697
Capgemini SE		16,540		2,062,860
Cognizant Technology Solutions Corp. - Class A		35,650		2,869,825
Computershare, Ltd.		47,650		637,659
CSRA, Inc.		9,855		406,322
DXC Technology Co.		17,228		1,731,931
Fidelity National Information Services, Inc.		20,185		1,943,815
Fiserv, Inc. (a)		25,320		1,805,569
Fujitsu, Ltd.		202,150		1,225,160
Gartner, Inc. (a)		5,459		642,088
Global Payments, Inc.		9,637		1,074,718
International Business Machines Corp. (f)		52,196		8,008,432
MasterCard, Inc. - Class A		56,300		9,861,508
Nomura Research Institute, Ltd.		13,663		644,976
NTT Data Corp.		65,005		681,969
Obic Co., Ltd.		6,662		562,023
Otsuka Corp.		10,762		549,442
Paychex, Inc.		19,315		1,189,611
PayPal Holdings, Inc. (a)		68,375		5,187,611

BHFTI-11

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Total System Services, Inc.		10,095	$	870,795
Visa, Inc. - Class A		109,860		13,141,453
Western Union Co. (The)		27,820		534,979
Wirecard AG		12,083		1,428,310
				71,146,167
Leisure Products—0.1%
Bandai Namco Holdings, Inc.		20,632		664,792
Hasbro, Inc.		6,845		577,033
Mattel, Inc. (b)		20,745		272,797
Sankyo Co., Ltd.		4,604		160,665
Sega Sammy Holdings, Inc.		17,741		289,030
Shimano, Inc.		7,651		1,108,158
Yamaha Corp.		17,331		757,819
				3,830,294
Life Sciences Tools & Services—0.3%
Agilent Technologies, Inc.		19,435		1,300,201
Eurofins Scientific SE		1,142		603,681
Illumina, Inc. (a)		8,819		2,084,988
IQVIA Holdings, Inc. (a)		8,821		865,428
Lonza Group AG (a)		7,682		1,812,097
Mettler-Toledo International, Inc. (a)		1,589		913,723
PerkinElmer, Inc.		6,590		498,995
QIAGEN NV (a)		22,294		720,195
Thermo Fisher Scientific, Inc.		24,330		5,023,172
Waters Corp. (a)		4,790		951,534
				14,774,014
Machinery—1.4%
Alfa Laval AB		30,141		712,549
Alstom S.A.		15,956		719,806
Amada Holdings Co., Ltd.		35,100		427,571
Andritz AG (b)		7,549		422,119
Atlas Copco AB - A Shares		69,118		2,994,296
Atlas Copco AB - B Shares		40,249		1,566,633
Caterpillar, Inc.		36,085		5,318,207
CNH Industrial NV		105,043		1,299,586
Cummins, Inc.		9,495		1,539,045
Daifuku Co., Ltd.		10,179		606,016
Deere & Co.		19,415		3,015,538
Dover Corp.		9,400		923,268
FANUC Corp.		19,954		5,078,466
Flowserve Corp.		7,880		341,440
Fortive Corp.		18,530		1,436,446
GEA Group AG		18,810		800,210
Hino Motors, Ltd.		26,541		346,410
Hitachi Construction Machinery Co., Ltd.		11,135		433,963
Hoshizaki Corp.		5,626		502,145
IHI Corp.		16,018		500,672
Illinois Tool Works, Inc.		18,700		2,929,542
IMI plc		27,831		422,432
Ingersoll-Rand plc		15,065		1,288,208
JTEKT Corp.		22,950		338,124
Kawasaki Heavy Industries, Ltd.		15,568		501,407
Machinery—(Continued)
KION Group AG		7,309		682,081
Komatsu, Ltd.		95,040		3,192,430
Kone Oyj - Class B		34,857		1,741,123
Kubota Corp.		108,549		1,912,930
Kurita Water Industries, Ltd.		10,188		329,054
Makita Corp.		23,106		1,148,625
MAN SE		3,661		426,852
Metso Oyj (b)		11,575		365,450
Minebea Mitsumi, Inc.		39,468		851,157
Mitsubishi Heavy Industries, Ltd.		33,057		1,276,739
Nabtesco Corp.		11,620		456,369
NGK Insulators, Ltd.		26,892		466,638
NSK, Ltd.		39,561		534,531
PACCAR, Inc.		21,295		1,409,090
Parker-Hannifin Corp.		8,035		1,374,226
Pentair plc		9,973		679,461
Sandvik AB		116,150		2,131,456
Schindler Holding AG		2,089		437,427
Schindler Holding AG (Participation Certificate)		4,204		906,767
SKF AB - B Shares (b)		38,916		795,677
SMC Corp.		5,895		2,406,136
Snap-on, Inc. (b)		3,410		503,111
Stanley Black & Decker, Inc.		9,240		1,415,568
Sumitomo Heavy Industries, Ltd.		12,091		462,559
THK Co., Ltd.		12,430		517,948
Volvo AB - B Shares		160,337		2,927,305
Wartsila Oyj Abp		45,792		1,013,091
Weir Group plc (The)		22,990		644,356
Xylem, Inc.		10,840		833,813
Yangzijiang Shipbuilding Holdings, Ltd.		235,990		219,742
				66,525,811
Marine—0.1%
AP Moller - Maersk A/S - Class A		388		570,826
AP Moller - Maersk A/S - Class B		675		1,052,203
Kuehne & Nagel International AG		5,573		877,526
Mitsui OSK Lines, Ltd.		11,820		336,295
Nippon Yusen KK		16,663		327,922
				3,164,772
Media—1.1%
Altice NV - Class A (a)		54,620		451,760
Axel Springer SE		4,996		418,267
CBS Corp. - Class B		21,950		1,128,010
Charter Communications, Inc. - Class A (a)		11,757		3,659,014
Comcast Corp. - Class A		282,604		9,656,579
Dentsu, Inc.		22,311		989,660
Discovery Communications, Inc. - Class A (a)		9,250		198,227
Discovery Communications, Inc. - Class C (a)		18,865		368,245
DISH Network Corp. - Class A (a)		13,794		522,655
Eutelsat Communications S.A.		18,074		358,403
Hakuhodo DY Holdings, Inc.		23,901		328,211
Interpublic Group of Cos., Inc. (The)		23,525		541,781
ITV plc		371,413		752,310
JCDecaux S.A.		7,705		268,912
Lagardere SCA		12,132		346,728

BHFTI-12

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Media—(Continued)
News Corp. - Class A		23,121	$	365,312
News Corp. - Class B		7,356		118,432
Omnicom Group, Inc. (b)		13,885		1,009,023
Pearson plc		84,330		887,217
ProSiebenSat.1 Media SE		24,038		833,731
Publicis Groupe S.A.		21,336		1,486,576
RTL Group S.A.		326		27,075
RTL Group S.A. (Brussels Exchange) (b)		3,657		302,530
Schibsted ASA - B Shares		10,088		256,381
SES S.A.		37,599		509,388
Singapore Press Holdings, Ltd.		162,500		313,558
Sky plc		105,986		1,929,733
Telenet Group Holding NV (a)		5,440		363,590
Time Warner, Inc.		47,155		4,459,920
Toho Co., Ltd.		11,648		389,073
Twenty-First Century Fox, Inc. - Class A		63,858		2,342,950
Twenty-First Century Fox, Inc. - Class B		26,525		964,714
Viacom, Inc. - Class B		21,370		663,752
Vivendi S.A.		106,416		2,754,317
Walt Disney Co. (The)		91,485		9,188,753
WPP plc		130,816		2,079,190
				51,233,977
Metals & Mining—1.0%
Alumina, Ltd.		250,953		458,058
Anglo American plc		137,344		3,208,648
Antofagasta plc		40,419		523,246
ArcelorMittal (a)		68,347		2,167,841
BHP Billiton plc		217,390		4,288,247
BHP Billiton, Ltd.		330,571		7,312,343
BlueScope Steel, Ltd.		57,651		677,943
Boliden AB		28,222		994,920
Fortescue Metals Group, Ltd.		159,611		534,235
Freeport-McMoRan, Inc. (a)		81,500		1,431,955
Fresnillo plc		22,800		406,173
Glencore plc (a)		1,259,372		6,266,388
Hitachi Metals, Ltd.		21,795		256,416
JFE Holdings, Inc.		53,870		1,088,140
Kobe Steel, Ltd. (a)		31,751		314,692
Maruichi Steel Tube, Ltd.		5,868		178,149
Mitsubishi Materials Corp.		11,544		343,782
Newcrest Mining, Ltd.		78,840		1,185,258
Newmont Mining Corp.		32,235		1,259,421
Nippon Steel & Sumitomo Metal Corp.		78,214		1,719,352
Norsk Hydro ASA		137,975		813,637
Nucor Corp.		19,240		1,175,372
Randgold Resources, Ltd.		9,702		803,630
Rio Tinto plc		127,075		6,451,831
Rio Tinto, Ltd.		43,661		2,454,006
South32, Ltd.		537,067		1,338,703
Sumitomo Metal Mining Co., Ltd.		25,496		1,050,475
ThyssenKrupp AG		44,853		1,169,770
Voestalpine AG		11,836		621,103
				50,493,734
Multi-Utilities—0.6%
AGL Energy, Ltd.		67,502		1,130,975
Ameren Corp.		14,660		830,196
CenterPoint Energy, Inc.		26,100		715,140
Centrica plc		575,608		1,149,397
CMS Energy Corp.		17,055		772,421
Consolidated Edison, Inc.		18,745		1,460,985
Dominion Energy, Inc.		38,990		2,629,096
DTE Energy Co.		10,830		1,130,652
E.ON SE		226,553		2,517,527
Engie S.A.		187,993		3,140,711
Innogy SE (144A)		14,360		679,288
National Grid plc		351,892		3,957,319
NiSource, Inc.		20,350		486,569
Public Service Enterprise Group, Inc.		30,570		1,535,837
RWE AG (a)		53,447		1,320,262
SCANA Corp.		8,640		324,432
Sempra Energy		15,220		1,692,768
Suez		37,993		550,984
Veolia Environnement S.A.		49,392		1,171,310
WEC Energy Group, Inc.		19,029		1,193,118
				28,388,987
Multiline Retail—0.2%
Dollar General Corp.		15,780		1,476,219
Dollar Tree, Inc. (a)		14,313		1,358,304
Don Quijote Holdings Co., Ltd.		12,228		700,166
Harvey Norman Holdings, Ltd.		55,765		159,623
Isetan Mitsukoshi Holdings, Ltd.		34,477		381,924
J Front Retailing Co., Ltd.		24,899		420,547
Kohl’s Corp.		10,125		663,289
Macy’s, Inc.		18,410		547,513
Marks & Spencer Group plc		166,565		632,174
Marui Group Co., Ltd. (b)		20,361		411,996
Next plc		15,169		1,013,811
Nordstrom, Inc. (b)		7,040		340,806
Ryohin Keikaku Co., Ltd.		2,466		821,263
Takashimaya Co., Ltd.		30,980		298,140
Target Corp.		32,890		2,283,553
				11,509,328
Oil, Gas & Consumable Fuels—3.0%
Anadarko Petroleum Corp.		33,135		2,001,685
Andeavor		8,625		867,330
Apache Corp. (b)		22,995		884,848
BP plc		2,033,089		13,689,796
Cabot Oil & Gas Corp.		27,990		671,200
Caltex Australia, Ltd.		26,927		653,866
Chevron Corp. (f)		115,100		13,126,004
Cimarex Energy Co.		5,715		534,352
Concho Resources, Inc. (a)		9,005		1,353,722
ConocoPhillips		72,420		4,293,782
Devon Energy Corp.		31,820		1,011,558
Enagas S.A.		23,423		641,087
Eni S.p.A.		261,840		4,615,695
EOG Resources, Inc.		34,990		3,683,397
EQT Corp.		14,810		703,623

BHFTI-13

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Exxon Mobil Corp. (f)		256,748	$	19,155,968
Galp Energia SGPS S.A.		51,703		975,240
Hess Corp.		16,270		823,587
Idemitsu Kosan Co., Ltd.		13,945		534,240
Inpex Corp.		97,606		1,218,126
JXTG Holdings, Inc.		317,250		1,937,930
Kinder Morgan, Inc.		116,330		1,751,930
Koninklijke Vopak NV		7,230		355,208
Lundin Petroleum AB (a)		19,368		489,490
Marathon Oil Corp.		51,480		830,372
Marathon Petroleum Corp.		29,510		2,157,476
Neste Oyj (b)		13,192		920,087
Newfield Exploration Co. (a)		12,000		293,040
Noble Energy, Inc.		29,400		890,820
Occidental Petroleum Corp.		46,345		3,010,571
Oil Search, Ltd.		140,519		776,464
OMV AG		15,206		886,678
ONEOK, Inc.		24,867		1,415,430
Origin Energy, Ltd. (a)		180,318		1,218,452
Phillips 66		25,940		2,488,165
Pioneer Natural Resources Co.		10,265		1,763,322
Range Resources Corp.		13,605		197,817
Repsol S.A.		125,769		2,234,493
Royal Dutch Shell plc - A Shares		464,267		14,568,575
Royal Dutch Shell plc - B Shares		385,514		12,423,162
Santos, Ltd. (a)		192,214		755,388
Showa Shell Sekiyu KK		19,163		261,046
Snam S.p.A.		233,696		1,075,000
Statoil ASA		118,407		2,804,365
Total S.A.		244,522		13,897,075
Valero Energy Corp.		26,515		2,459,796
Williams Cos., Inc. (The)		50,065		1,244,616
Woodside Petroleum, Ltd.		96,346		2,176,714
				146,722,588
Paper & Forest Products—0.1%
Mondi plc		37,879		1,019,340
OJI Holdings Corp.		88,394		569,477
Stora Enso Oyj - R Shares (b)		56,525		1,040,449
UPM-Kymmene Oyj		54,882		2,036,600
				4,665,866
Personal Products—0.7%
Beiersdorf AG		10,397		1,177,347
Coty, Inc. - Class A		28,519		521,898
Estee Lauder Cos., Inc. (The) - Class A		13,520		2,024,214
Kao Corp.		50,949		3,841,317
Kose Corp.		3,119		654,807
L’Oreal S.A.		25,947		5,861,634
Pola Orbis Holdings, Inc.		9,414		394,294
Shiseido Co., Ltd.		39,195		2,532,231
Unilever NV		167,668		9,478,010
Unilever plc		129,972		7,222,119
				33,707,871
Pharmaceuticals—3.5%
Allergan plc		20,108		3,383,975
Astellas Pharma, Inc.		212,939		3,270,037
AstraZeneca plc		130,285		8,961,198
Bayer AG		85,116		9,624,329
Bristol-Myers Squibb Co.		99,135		6,270,289
Chugai Pharmaceutical Co., Ltd.		23,092		1,171,973
Daiichi Sankyo Co., Ltd.		58,505		1,961,217
Eisai Co., Ltd.		27,531		1,775,797
Eli Lilly & Co.		58,630		4,536,203
GlaxoSmithKline plc		506,247		9,835,349
H Lundbeck A/S (b)		7,171		400,840
Hisamitsu Pharmaceutical Co., Inc.		6,365		491,819
Ipsen S.A.		3,894		604,665
Johnson & Johnson (f)		162,820		20,865,383
Kyowa Hakko Kirin Co., Ltd.		26,796		579,626
Merck & Co., Inc. (f)		165,735		9,027,585
Merck KGaA		13,331		1,278,910
Mitsubishi Tanabe Pharma Corp.		23,232		470,031
Mylan NV (a)		32,485		1,337,407
Nektar Therapeutics (a)		9,814		1,042,836
Novartis AG		228,944		18,522,039
Novo Nordisk A/S - Class B		191,902		9,442,426
Ono Pharmaceutical Co., Ltd.		42,544		1,356,771
Orion Oyj - Class B		10,682		327,234
Otsuka Holdings Co., Ltd.		40,277		2,022,917
Perrigo Co. plc		7,853		654,469
Pfizer, Inc.		361,206		12,819,201
Recordati S.p.A.		10,837		401,568
Roche Holding AG (b)		72,313		16,585,701
Sanofi		116,952		9,397,703
Santen Pharmaceutical Co., Ltd.		37,440		629,339
Shionogi & Co., Ltd.		30,554		1,594,642
Sumitomo Dainippon Pharma Co., Ltd. (b)		16,428		275,198
Taisho Pharmaceutical Holdings Co., Ltd.		3,299		327,333
Takeda Pharmaceutical Co., Ltd.		73,257		3,573,498
Teva Pharmaceutical Industries, Ltd. (ADR) (b)		94,164		1,609,263
UCB S.A.		13,041		1,063,801
Vifor Pharma AG (b)		5,048		778,532
Zoetis, Inc.		29,440		2,458,534
				170,729,638
Professional Services—0.5%
Adecco Group AG		16,772		1,195,018
Bureau Veritas S.A.		27,401		712,566
Capita plc		68,394		138,414
Equifax, Inc.		7,215		849,999
Experian plc		95,815		2,069,792
IHS Markit, Ltd. (a)		21,960		1,059,350
Intertek Group plc		16,653		1,090,022
Nielsen Holdings plc (b)		20,233		643,207
Persol Holdings Co., Ltd.		18,271		530,898
Randstad Holding NV (b)		12,248		807,000
Recruit Holdings Co., Ltd.		113,465		2,847,705
RELX NV		99,414		2,062,444
RELX plc		109,824		2,259,691
Robert Half International, Inc.		7,520		435,333

BHFTI-14

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Professional Services—(Continued)
Seek, Ltd.		34,286	$	493,348
SGS S.A.		551		1,354,622
Teleperformance SE		5,948		922,934
Verisk Analytics, Inc. (a)		9,401		977,704
Wolters Kluwer NV		31,139		1,658,362
				22,108,409
Real Estate Management & Development—1.3%
ADLER Real Estate AG (a)		3,269		55,211
ADO Properties S.A. (144A)		3,198		179,902
Aeon Mall Co., Ltd.		24,759		520,179
Allreal Holding AG		1,550		255,150
Aroundtown S.A.		62,150		481,848
Azrieli Group, Ltd.		7,689		369,286
BUWOG AG (a)		3,245		116,030
CA Immobilien Anlagen AG		7,582		253,512
Capital & Counties Properties plc		80,100		306,137
CapitaLand, Ltd.		538,300		1,473,161
Carmila S.A.		2,400		70,904
Castellum AB (b)		29,527		483,140
Catena AB		1,750		34,569
CBRE Group, Inc. - Class A (a)		18,215		860,112
City Developments, Ltd.		93,100		928,119
Citycon Oyj (b)		42,100		94,730
CK Asset Holdings, Ltd.		561,496		4,751,440
D Carnegie & Co. AB (a)		557		8,085
D Carnegie & Co. AB (a)		3,900		57,599
Daejan Holdings plc		500		42,049
Daito Trust Construction Co., Ltd.		7,136		1,212,626
Daiwa House Industry Co., Ltd.		58,275		2,243,014
Deutsche Euroshop AG		5,600		205,314
Deutsche Wohnen SE		75,507		3,524,359
DIC Asset AG		4,700		59,278
Dios Fastigheter AB		9,182		62,026
Entra ASA (144A)		11,968		163,276
Fabege AB		14,450		313,183
Fastighets AB Balder - B Shares (a)		10,650		267,601
First Capital Realty, Inc.		16,200		255,885
Grainger plc		44,900		182,272
Grand City Properties S.A.		11,900		284,468
Hang Lung Group, Ltd.		90,700		297,344
Hang Lung Properties, Ltd.		429,450		1,007,724
Helical plc		10,750		48,782
Hemfosa Fastigheter AB		16,424		199,410
Henderson Land Development Co., Ltd.		240,449		1,575,352
Hongkong Land Holdings, Ltd.		248,400		1,717,117
Hufvudstaden AB - A Shares		12,000		178,913
Hulic Co., Ltd.		69,326		756,923
Hysan Development Co., Ltd.		131,600		698,454
Kennedy-Wilson Holdings, Inc.		13,127		228,410
Kerry Properties, Ltd.		65,700		298,289
Klovern AB - B Shares		61,800		76,595
Kungsleden AB		20,670		138,136
LEG Immobilien AG		6,950		781,957
Lend Lease Group		56,759		759,132
Mitsubishi Estate Co., Ltd.		258,271		4,293,528
Real Estate Management & Development—(Continued)
Mitsui Fudosan Co., Ltd.		195,404		4,712,707
Mobimo Holding AG (a) (b)		700		185,342
New World Development Co., Ltd.		1,223,025		1,743,537
Nomura Real Estate Holdings, Inc.		25,767		602,342
NTT Urban Development Corp.		11,795		143,915
Phoenix Spree Deutschland, Ltd.		8,600		41,535
PSP Swiss Property AG		4,259		415,523
Sino Land Co., Ltd.		654,450		1,064,950
Sirius Real Estate, Ltd.		94,000		81,272
Sumitomo Realty & Development Co., Ltd.		84,158		3,149,158
Sun Hung Kai Properties, Ltd.		304,728		4,854,283
Swire Pacific, Ltd. - Class A		51,180		519,289
Swire Properties, Ltd.		234,600		824,952
Swiss Prime Site AG (a)		15,074		1,459,475
TAG Immobilien AG		16,050		332,983
Technopolis Oyj		15,450		69,855
TLG Immobilien AG		9,242		253,799
Tokyo Tatemono Co., Ltd.		43,527		657,437
Tokyu Fudosan Holdings Corp.		52,123		375,313
UOL Group, Ltd.		104,050		681,968
Vonovia SE		103,179		5,116,880
Wallenstam AB - B Shares		20,850		189,564
Wharf Holdings, Ltd. (The)		257,450		891,859
Wharf Real Estate Investment Co., Ltd. (a)		257,450		1,685,435
Wheelock & Co., Ltd.		83,400		611,639
Wihlborgs Fastigheter AB		7,300		169,226
				64,004,769
Road & Rail—0.6%
Aurizon Holdings, Ltd.		210,382		690,571
Central Japan Railway Co.		14,843		2,828,560
ComfortDelGro Corp., Ltd.		221,100		347,841
CSX Corp.		54,070		3,012,240
DSV A/S		19,598		1,545,488
East Japan Railway Co.		33,741		3,148,556
Hankyu Hanshin Holdings, Inc.		24,917		931,003
J.B. Hunt Transport Services, Inc.		5,196		608,711
Kansas City Southern		6,190		679,972
Keikyu Corp.		24,030		421,891
Keio Corp.		11,933		513,015
Keisei Electric Railway Co., Ltd.		14,303		440,481
Kintetsu Group Holdings Co., Ltd.		18,698		733,594
Kyushu Railway Co.		16,566		516,718
MTR Corp., Ltd.		154,400		834,535
Nagoya Railroad Co., Ltd.		18,858		481,512
Nippon Express Co., Ltd.		8,235		544,206
Norfolk Southern Corp.		17,340		2,354,425
Odakyu Electric Railway Co., Ltd.		30,280		616,858
Tobu Railway Co., Ltd.		20,005		610,018
Tokyu Corp.		54,485		856,414
Union Pacific Corp.		47,690		6,410,967
West Japan Railway Co.		16,986		1,200,507
				30,328,083

BHFTI-15

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—1.6%
Advanced Micro Devices, Inc. (a) (b)		49,678	$	499,264
Analog Devices, Inc.		22,302		2,032,381
Applied Materials, Inc.		64,560		3,590,182
ASM Pacific Technology, Ltd.		27,200		384,954
ASML Holding NV		39,969		7,907,743
Broadcom, Ltd.		24,695		5,819,377
Disco Corp.		2,970		640,752
Infineon Technologies AG		116,907		3,131,941
Intel Corp. (f)		283,570		14,768,326
KLA-Tencor Corp.		9,470		1,032,325
Lam Research Corp.		9,847		2,000,516
Microchip Technology, Inc. (b)		14,130		1,290,917
Micron Technology, Inc. (a)		69,870		3,643,022
NVIDIA Corp.		36,770		8,515,564
NXP Semiconductors NV (a)		35,614		4,166,838
Qorvo, Inc. (a)		7,623		537,040
QUALCOMM, Inc.		89,305		4,948,390
Renesas Electronics Corp. (a)		51,166		516,091
Rohm Co., Ltd.		9,757		928,313
Skyworks Solutions, Inc.		11,071		1,109,978
STMicroelectronics NV		65,514		1,453,916
SUMCO Corp.		24,150		631,154
Texas Instruments, Inc.		59,730		6,205,350
Tokyo Electron, Ltd.		16,155		2,983,558
Xilinx, Inc.		15,180		1,096,603
				79,834,495
Software—2.1%
Activision Blizzard, Inc.		45,754		3,086,565
Adobe Systems, Inc. (a)		29,920		6,465,114
ANSYS, Inc. (a)		5,087		797,082
Autodesk, Inc. (a)		13,215		1,659,540
CA, Inc.		18,945		642,236
Cadence Design Systems, Inc. (a)		17,086		628,252
Check Point Software Technologies, Ltd. (a)		13,494		1,340,494
Citrix Systems, Inc. (a)		8,670		804,576
Dassault Systemes SE		13,362		1,817,646
Electronic Arts, Inc. (a)		18,680		2,264,763
Intuit, Inc.		14,695		2,547,378
Konami Holdings Corp.		9,601		487,279
LINE Corp. (a)		4,541		177,316
Micro Focus International plc		44,777		626,444
Microsoft Corp. (f)		467,455		42,664,618
Nexon Co., Ltd. (a)		40,906		693,927
Nice, Ltd.		6,259		587,244
Nintendo Co., Ltd.		11,666		5,202,069
Oracle Corp. (f)		184,610		8,445,908
Oracle Corp. Japan		3,946		327,302
Red Hat, Inc. (a)		10,735		1,604,990
Sage Group plc (The)		111,004		997,266
Salesforce.com, Inc. (a) (b)		41,560		4,833,428
SAP SE		101,158		10,585,783
Symantec Corp.		37,500		969,375
Synopsys, Inc. (a)		9,022		750,991
Take-Two Interactive Software, Inc. (a)		6,977		682,211
Software—(Continued)
Trend Micro, Inc.		12,335		731,582
UBISOFT Entertainment S.A. (a)		6,492		548,396
				102,969,775
Specialty Retail—0.9%
ABC-Mart, Inc.		3,400		223,557
Advance Auto Parts, Inc.		4,420		523,991
AutoZone, Inc. (a)		1,735		1,125,477
Best Buy Co., Inc.		15,345		1,073,997
CarMax, Inc. (a)		11,050		684,437
Dufry AG (a) (b)		3,623		475,051
Fast Retailing Co., Ltd.		5,471		2,194,702
Foot Locker, Inc.		7,444		339,000
Gap, Inc. (The)		13,140		409,968
Hennes & Mauritz AB - B Shares (b)		97,715		1,465,799
Hikari Tsushin, Inc.		2,241		362,235
Home Depot, Inc. (The)		70,770		12,614,045
Industria de Diseno Textil S.A.		112,276		3,518,968
Kingfisher plc		224,610		924,305
L Brands, Inc.		14,940		570,857
Lowe’s Cos., Inc.		50,420		4,424,355
Nitori Holdings Co., Ltd.		8,263		1,446,172
O’Reilly Automotive, Inc. (a)		5,165		1,277,718
Ross Stores, Inc.		23,280		1,815,374
Shimamura Co., Ltd.		2,292		284,894
Tiffany & Co.		6,120		597,679
TJX Cos., Inc. (The)		38,550		3,144,138
Tractor Supply Co.		7,535		474,856
Ulta Salon Cosmetics & Fragrance, Inc. (a)		3,579		731,082
USS Co., Ltd.		22,496		460,926
Yamada Denki Co., Ltd. (b)		63,867		386,960
				41,550,543
Technology Hardware, Storage & Peripherals—1.4%
Apple, Inc. (f)		309,458		51,920,863
Brother Industries, Ltd.		24,399		567,764
Canon, Inc.		109,825		4,011,094
FUJIFILM Holdings Corp.		42,465		1,699,454
Hewlett Packard Enterprise Co.		96,610		1,694,539
HP, Inc.		101,210		2,218,523
Konica Minolta, Inc.		48,956		416,456
NEC Corp.		26,892		755,488
NetApp, Inc.		16,270		1,003,696
Ricoh Co., Ltd.		72,499		716,326
Seagate Technology plc		17,460		1,021,759
Seiko Epson Corp.		28,876		500,746
Western Digital Corp.		17,924		1,653,848
Xerox Corp.		12,915		371,694
				68,552,250
Textiles, Apparel & Luxury Goods—0.8%
adidas AG		19,381		4,693,712
Asics Corp.		16,260		302,173
Burberry Group plc		44,337		1,055,849
Cie Financiere Richemont S.A.		53,729		4,826,491

BHFTI-16

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Textiles, Apparel & Luxury Goods—(Continued)
Hanesbrands, Inc. (b)		22,022	$	405,645
Hermes International		3,267		1,937,130
Hugo Boss AG		6,555		571,299
Kering		7,799		3,739,580
Li & Fung, Ltd.		607,600		300,011
Luxottica Group S.p.A.		17,489		1,088,378
LVMH Moet Hennessy Louis Vuitton SE		28,701		8,851,071
Michael Kors Holdings, Ltd. (a)		9,197		570,950
NIKE, Inc. - Class B		79,580		5,287,295
Pandora A/S (b)		11,025		1,195,083
PVH Corp.		4,708		712,932
Ralph Lauren Corp.		3,295		368,381
Swatch Group AG (The)		5,789		485,583
Swatch Group AG (The) - Bearer Shares		3,181		1,403,536
Tapestry, Inc.		17,150		902,262
Under Armour, Inc. - Class A (a) (b)		11,172		182,662
Under Armour, Inc. - Class C (a) (b)		11,156		160,089
VF Corp.		19,800		1,467,576
Yue Yuen Industrial Holdings, Ltd.		75,100		299,943
				40,807,631
Tobacco—0.8%
Altria Group, Inc.		115,625		7,205,750
British American Tobacco plc		236,065		13,703,846
Imperial Brands plc		98,678		3,362,787
Japan Tobacco, Inc.		113,220		3,239,809
Philip Morris International, Inc. (f)		94,105		9,354,037
Swedish Match AB		18,752		852,491
				37,718,720
Trading Companies & Distributors—0.5%
AerCap Holdings NV (a)		14,298		725,195
Ashtead Group plc		51,493		1,404,135
Brenntag AG		15,936		948,372
Bunzl plc		34,642		1,018,949
Fastenal Co.		17,350		947,136
Ferguson plc		26,104		1,963,528
ITOCHU Corp.		154,041		2,999,404
Marubeni Corp.		169,541		1,234,467
MISUMI Group, Inc.		29,006		806,521
Mitsubishi Corp.		155,480		4,182,390
Mitsui & Co., Ltd.		175,665		3,015,508
Rexel S.A.		31,094		526,638
Sumitomo Corp.		122,224		2,046,806
Toyota Tsusho Corp.		21,866		740,157
Travis Perkins plc		25,737		446,108
United Rentals, Inc. (a)		5,100		880,923
WW Grainger, Inc. (b)		3,120		880,682
				24,766,919
Transportation Infrastructure—0.2%
Abertis Infraestructuras S.A.		71,282		1,598,804
Aena SME S.A. (144A)		6,963		1,403,190
Aeroports de Paris		3,056		666,177
Transportation Infrastructure—(Continued)
Atlantia S.p.A.		46,847	$	1,452,322
Auckland International Airport, Ltd.		97,671		433,502
Fraport AG Frankfurt Airport Services Worldwide		4,297		424,060
Getlink SE		47,965		684,783
Hutchison Port Holdings Trust - Class U		535,802		158,788
Japan Airport Terminal Co., Ltd.		4,825		187,962
Kamigumi Co., Ltd.		12,061		270,243
SATS, Ltd.		68,300		268,546
Sydney Airport		113,018		585,917
Transurban Group		228,278		2,010,409
				10,144,703
Water Utilities—0.1%
American Water Works Co., Inc.		10,776		885,033
Severn Trent plc		24,404		632,106
United Utilities Group plc		69,873		702,060
				2,219,199
Wireless Telecommunication Services—0.5%
1&1 Drillisch AG		5,459		367,717
KDDI Corp.		186,407		4,787,171
Millicom International Cellular S.A.		6,864		468,756
NTT DoCoMo, Inc.		140,480		3,576,554
SoftBank Group Corp.		84,967		6,329,082
StarHub, Ltd.		61,000		106,946
Tele2 AB - B Shares		37,303		447,909
Vodafone Group plc		2,744,470		7,514,893
				23,599,028
Total Common Stocks (Cost $2,114,291,922)				3,033,422,602
U.S. Treasury & Government Agencies—20.2%
Federal Agencies—0.4%
Federal Home Loan Mortgage Corp. 2.375%, 01/13/22		8,925,000		8,861,543
6.250%, 07/15/32		2,480,000		3,379,017
Federal National Mortgage Association 6.625%, 11/15/30		1,650,000		2,259,162
7.250%, 05/15/30		1,941,000		2,756,529
				17,256,251
U.S. Treasury—19.8%
U.S. Treasury Bonds 2.250%, 08/15/46 (b)		11,613,000		10,003,057
2.500%, 02/15/45		5,830,000		5,323,291
2.750%, 08/15/42		5,415,000		5,231,821
2.750%, 08/15/47 (b)		2,988,000		2,855,758
2.750%, 11/15/47		8,979,000		8,583,714
2.875%, 05/15/43		5,779,000		5,696,378
2.875%, 08/15/45		29,325,000		28,798,066
3.000%, 05/15/45		1,395,000		1,403,773

BHFTI-17

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Bonds 3.000%, 02/15/47		3,410,000	$	3,428,116
3.000%, 05/15/47		3,783,000		3,801,472
3.125%, 11/15/41		7,070,000		7,304,194
3.125%, 02/15/42 (b)		5,645,000		5,832,432
3.125%, 02/15/43		8,925,000		9,200,071
3.625%, 08/15/43		25,457,000		28,498,913
3.750%, 08/15/41		8,025,000		9,144,738
4.375%, 05/15/40		4,020,000		4,983,387
4.375%, 05/15/41		7,495,000		9,328,054
4.750%, 02/15/41		1,780,000		2,324,221
6.000%, 02/15/26		33,774,000		41,677,908
6.125%, 11/15/27		3,783,000		4,864,702
6.250%, 08/15/23		4,620,000		5,467,662
6.250%, 05/15/30		1,815,000		2,462,870
6.375%, 08/15/27 (b)		2,790,000		3,632,885
6.875%, 08/15/25		2,640,000		3,380,025
8.500%, 02/15/20		4,787,000		5,339,562
U.S. Treasury Notes 1.000%, 08/31/19		10,205,000		10,032,392
1.125%, 02/28/21		10,400,000		10,029,500
1.125%, 09/30/21		7,998,000		7,640,277
1.250%, 04/30/19		8,909,000		8,822,694
1.250%, 03/31/21		24,650,000		23,833,469
1.250%, 10/31/21		21,327,200		20,439,955
1.375%, 03/31/20		25,304,000		24,847,342
1.375%, 08/31/20		17,945,000		17,534,228
1.375%, 10/31/20		27,166,000		26,493,217
1.375%, 05/31/21		6,338,000		6,134,491
1.500%, 05/31/19		44,168,000		43,822,937
1.500%, 11/30/19 (b)		36,088,000		35,643,948
1.500%, 05/31/20		9,830,000		9,658,743
1.625%, 06/30/20		13,695,000		13,483,155
1.625%, 07/31/20		7,875,000		7,748,569
1.625%, 11/15/22 (h)		41,304,000		39,651,840
1.625%, 02/15/26		11,320,000		10,443,584
1.750%, 03/31/22		6,370,000		6,189,848
1.750%, 05/15/22 (b)		8,447,000		8,198,210
1.750%, 05/31/22		6,444,000		6,248,918
1.750%, 05/15/23 (h)		53,259,000		51,141,123
1.875%, 11/30/21		13,250,100		12,974,746
1.875%, 08/31/22		11,326,000		11,015,862
1.875%, 10/31/22		8,498,000		8,255,674
2.000%, 02/15/22		22,105,600		21,713,571
2.000%, 07/31/22		6,273,500		6,139,453
2.000%, 11/30/22		8,542,000		8,338,126
2.000%, 02/15/23		18,174,000		17,709,001
2.000%, 08/15/25		17,740,000		16,905,666
2.000%, 11/15/26		4,620,000		4,357,238
2.125%, 08/15/21		19,150,000		18,942,043
2.125%, 12/31/22		8,530,000		8,365,731
2.125%, 05/15/25 (b)		36,853,000		35,489,727
2.250%, 11/15/24		16,668,500		16,232,905
2.250%, 02/15/27		10,237,000		9,839,117
2.250%, 08/15/27		5,941,000		5,696,398
2.250%, 11/15/27 (b)		15,786,000		15,121,261
U.S. Treasury—(Continued)
U.S. Treasury Notes 2.375%, 05/15/27		6,780,500		6,578,409
2.625%, 08/15/20		7,910,000		7,959,746
2.625%, 11/15/20 (b)		28,794,000		28,973,963
2.750%, 02/15/19 (b)		2,812,000		2,827,268
2.750%, 11/15/23		18,483,000		18,615,125
3.500%, 05/15/20		9,995,000		10,235,895
3.625%, 02/15/20		29,095,000		29,808,737
3.625%, 02/15/21 (b)		39,022,000		40,357,284
				969,058,456
Total U.S. Treasury & Government Agencies (Cost $1,001,704,906)				986,314,707
Foreign Government—8.3%
Sovereign—8.3%
Australia Government Bonds 2.750%, 04/21/24 (AUD)		8,965,000		7,006,435
3.750%, 04/21/37 (AUD)		2,170,000		1,849,086
5.250%, 03/15/19 (AUD)		510,000		404,065
5.750%, 05/15/21 (AUD)		2,345,000		1,996,792
Austria Government Bonds 0.750%, 10/20/26 (144A) (EUR)		1,805,000		2,263,431
3.150%, 06/20/44 (144A) (EUR)		1,025,000		1,784,740
3.400%, 11/22/22 (144A) (EUR)		1,740,000		2,488,892
4.150%, 03/15/37 (144A) (EUR)		145,000		271,085
Belgium Government Bonds 2.600%, 06/22/24 (144A) (EUR)		905,000		1,278,806
3.750%, 09/28/20 (144A) (EUR)		3,495,000		4,751,157
4.250%, 09/28/21 (144A) (EUR)		900,000		1,284,443
4.250%, 03/28/41 (144A) (EUR)		1,455,000		2,816,568
5.000%, 03/28/35 (144A) (EUR)		355,000		699,252
5.500%, 03/28/28 (EUR)		1,573,000		2,847,163
Bundesrepublik Deutschland 0.500%, 02/15/26 (EUR)		6,525,000		8,184,393
1.500%, 05/15/24 (EUR)		1,965,000		2,633,330
2.000%, 01/04/22 (EUR)		1,505,000		2,015,410
2.000%, 08/15/23 (EUR)		1,170,000		1,600,081
2.500%, 01/04/21 (EUR)		2,715,000		3,620,238
2.500%, 07/04/44 (EUR)		1,372,000		2,228,140
3.250%, 07/04/42 (EUR)		360,000		652,199
4.250%, 07/04/39 (EUR)		1,955,000		3,921,292
5.500%, 01/04/31 (EUR)		1,505,000		2,951,775
Canadian Government Bonds 1.500%, 06/01/26 (CAD)		2,675,000		1,986,956
2.750%, 06/01/22 (CAD)		1,870,000		1,497,901
3.500%, 06/01/20 (CAD)		420,000		337,509
3.500%, 12/01/45 (CAD)		1,275,000		1,245,677
4.000%, 06/01/41 (CAD)		975,000		996,409
5.750%, 06/01/29 (CAD)		385,000		405,512
5.750%, 06/01/33 (CAD)		245,000		277,790
Denmark Government Bonds 1.500%, 11/15/23 (DKK)		5,745,000		1,026,569
4.000%, 11/15/19 (DKK)		3,690,000		654,706
4.500%, 11/15/39 (DKK)		4,060,000		1,123,124

BHFTI-18

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Finland Government Bonds 0.500%, 04/15/26 (144A) (EUR)		1,520,000	$	1,882,033
3.500%, 04/15/21 (144A) (EUR)		1,500,000		2,061,342
France Government Bond OAT Zero Coupon, 05/25/21 (EUR)		7,055,000		8,768,117
Zero Coupon, 05/25/22 (EUR)		1,450,000		1,795,109
0.500%, 05/25/26 (EUR)		4,320,000		5,338,867
1.000%, 11/25/25 (EUR)		7,220,000		9,301,388
1.250%, 05/25/36 (144A) (EUR)		1,875,000		2,318,130
1.750%, 05/25/23 (EUR)		545,000		730,904
2.250%, 05/25/24 (EUR)		3,550,000		4,929,109
2.500%, 05/25/30 (EUR)		3,205,000		4,686,091
3.250%, 05/25/45 (EUR)		3,757,000		6,455,906
French Republic Government Bond OAT 1.000%, 11/25/18 (EUR)		16,524,571		20,539,030
Ireland Government Bonds 2.000%, 02/18/45 (EUR)		290,000		384,049
4.500%, 04/18/20 (EUR)		415,000		562,870
5.400%, 03/13/25 (EUR)		1,625,000		2,676,505
Italy Buoni Poliennali Del Tesoro 2.000%, 12/01/25 (EUR)		1,190,000		1,528,688
3.250%, 09/01/46 (144A) (EUR)		1,430,000		1,931,070
3.750%, 03/01/21 (EUR)		6,625,000		9,046,789
3.750%, 09/01/24 (EUR)		13,635,000		19,553,000
5.000%, 08/01/39 (EUR)		3,080,000		5,266,839
5.250%, 11/01/29 (EUR)		4,804,000		7,927,149
Japan Government Five Year Bonds 0.100%, 12/20/19 (JPY)		139,400,000		1,315,355
0.300%, 09/20/18 (JPY)		1,161,750,000		10,941,009
Japan Government Forty Year Bond 1.700%, 03/20/54 (JPY)		25,750,000		306,461
Japan Government Ten Year Bonds 0.100%, 09/20/26 (JPY)		1,781,550,000		16,907,187
0.500%, 12/20/24 (JPY)		555,750,000		5,426,299
0.800%, 09/20/22 (JPY)		1,675,100,000		16,386,714
0.800%, 12/20/22 (JPY)		317,250,000		3,109,023
Japan Government Thirty Year Bonds 0.500%, 09/20/46 (JPY)		814,050,000		7,219,075
1.800%, 09/20/43 (JPY)		498,100,000		5,936,755
1.900%, 09/20/42 (JPY)		325,250,000		3,929,777
2.300%, 03/20/40 (JPY)		387,100,000		4,919,395
Japan Government Twenty Year Bonds 0.500%, 09/20/36 (JPY)		1,109,800,000		10,517,468
1.400%, 12/20/22 (JPY)		396,500,000		3,991,196
1.500%, 03/20/33 (JPY)		230,600,000		2,557,698
1.700%, 12/20/31 (JPY)		561,250,000		6,339,717
1.700%, 09/20/32 (JPY)		182,400,000		2,068,583
1.700%, 09/20/33 (JPY)		418,500,000		4,768,906
2.100%, 06/20/29 (JPY)		555,050,000		6,381,940
2.100%, 12/20/29 (JPY)		239,500,000		2,769,696
2.500%, 12/21/20 (JPY)		808,300,000		8,139,518
Kingdom of Belgium Government Bond 1.600%, 06/22/47 (144A) (EUR)		440,000		549,238
Sovereign—(Continued)
Mexican Bonos 6.500%, 06/10/21 (MXN)		43,260,000	$	2,330,472
7.750%, 11/13/42 (MXN)		3,375,000		188,426
10.000%, 11/20/36 (MXN)		17,380,000		1,187,060
Netherlands Government Bonds 2.250%, 07/15/22 (144A) (EUR)		2,130,000		2,898,952
3.750%, 01/15/42 (144A) (EUR)		1,130,000		2,178,169
5.500%, 01/15/28 (EUR)		2,640,000		4,791,339
Norway Government Bond 3.000%, 03/14/24 (144A) (NOK)		10,370,000		1,427,681
Poland Government Bonds 5.500%, 10/25/19 (PLN)		3,610,000		1,121,550
5.750%, 04/25/29 (PLN)		3,940,000		1,425,060
Republic of South Africa Government Bonds 6.500%, 02/28/41 (ZAR)		6,815,000		444,639
10.500%, 12/21/26 (ZAR)		29,175,000		2,848,806
Singapore Government Bonds 2.125%, 06/01/26 (SGD)		2,125,000		1,606,128
2.250%, 06/01/21 (SGD)		865,000		665,334
Spain Government Bonds 1.950%, 04/30/26 (144A) (EUR)		5,390,000		7,197,241
2.750%, 10/31/24 (144A) (EUR)		2,425,000		3,413,824
2.900%, 10/31/46 (144A) (EUR)		705,000		1,000,966
4.000%, 04/30/20 (144A) (EUR)		8,535,000		11,447,016
4.200%, 01/31/37 (144A) (EUR)		1,045,000		1,779,343
4.400%, 10/31/23 (144A) (EUR)		1,028,000		1,550,587
4.700%, 07/30/41 (144A) (EUR)		1,305,000		2,414,333
6.000%, 01/31/29 (EUR)		995,000		1,819,681
Sweden Government Bonds 1.000%, 11/12/26 (SEK)		7,400,000		923,370
1.500%, 11/13/23 (144A) (SEK)		3,330,000		429,992
5.000%, 12/01/20 (SEK)		8,685,000		1,192,776
Switzerland Government Bond 4.000%, 02/11/23 (CHF)		415,000		530,037
United Kingdom Gilt 2.000%, 09/07/25 (GBP)		4,080,000		6,057,062
2.250%, 09/07/23 (GBP)		1,170,000		1,742,047
2.750%, 09/07/24 (GBP)		2,745,000		4,234,358
3.250%, 01/22/44 (GBP)		3,265,000		6,023,391
3.750%, 09/07/20 (GBP)		4,235,000		6,360,777
4.250%, 09/07/39 (GBP)		259,000		529,731
4.250%, 12/07/46 (GBP)		5,085,000		11,211,245
4.500%, 12/07/42 (GBP)		113,000		247,048
8.000%, 06/07/21 (GBP)		1,170,000		2,007,977
Total Foreign Government (Cost $386,498,524)				406,491,339
Mutual Funds—4.1%
Investment Company Securities—4.1%
F&C Commercial Property Trust, Ltd. (b)		57,700		114,538
F&C UK Real Estate Investment, Ltd.		26,300		36,894
iShares Core MSCI Emerging Markets ETF (b)		585,990		34,221,816
iShares International Developed Real Estate ETF		14,832		440,955

BHFTI-19

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—(Continued)

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—(Continued)
iShares Russell 2000 ETF (b)		167,498	$	25,431,221
iShares U.S. Real Estate ETF (b)		5,773		435,688
MedicX Fund, Ltd.		46,733		51,522
Picton Property Income, Ltd. (The)		59,150		69,938
Schroder Real Estate Investment Trust, Ltd.		56,800		46,857
Standard Life Investment Property Income Trust, Ltd.		43,740		55,052
UK Commercial Property Trust, Ltd. (b)		71,550		89,879
Vanguard Mid-Cap ETF (b)		401,880		61,973,915
Vanguard Small-Cap ETF (b)		543,248		79,813,996
Total Mutual Funds (Cost $188,027,632)				202,782,271
Preferred Stocks—0.2%
Auto Components—0.0%
Schaeffler AG		16,952		261,762
Automobiles—0.1%
Bayerische Motoren Werke (BMW) AG		5,696		533,942
Porsche Automobil Holding SE		15,794		1,313,243
Volkswagen AG		19,102		3,799,459
				5,646,644
Chemicals—0.0%
FUCHS Petrolub SE		7,143		387,922
Household Products—0.1%
Henkel AG & Co. KGaA		18,338		2,411,478
Total Preferred Stocks (Cost $7,013,813)				8,707,806
Rights—0.0%
Equity Real Estate Investment Trusts—0.0%
Immobiliare Grande Distribuzione SIIQ S.p.A., Expires 04/13/18 (a) (Cost $0)		3,949		4,201
Short-Term Investments—4.6%
Repurchase Agreement—3.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $175,629,519; collateralized by U.S. Government Agency Obligations with rates ranging from 0.000% - 2.125%, maturity dates ranging from 04/20/18 - 05/31/24, and an aggregate market value of $179,132,584.		175,617,811		175,617,811
U.S. Treasury—1.0%
U.S. Treasury Bill 1.612%, 05/24/18 (i)		50,000,000		49,880,778
Total Short-Term Investments (Cost $225,498,856)				225,498,589
Securities Lending Reinvestments (j)—3.4%
Certificates of Deposit—1.8%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (k)		5,000,000		4,999,650
2.028%, 1M LIBOR + 0.220%, 07/17/18 (k)		1,000,000		999,617
China Construction Bank 1.950%, 04/20/18		4,000,000		3,999,584
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (k)		2,500,000		2,499,563
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (k)		5,000,000		4,999,295
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (k)		5,300,000		5,299,406
1.976%, 1M LIBOR + 0.190%, 04/16/18 (k)		2,500,000		2,499,895
2.062%, 1M LIBOR + 0.190%, 04/25/18 (k)		5,000,000		4,999,865
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (k)		2,500,000		2,499,455
1.976%, 1M LIBOR + 0.190%, 04/16/18 (k)		1,500,000		1,499,909
2.077%, 1M LIBOR + 0.200%, 05/30/18 (k)		5,000,000		4,999,170
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (k)		7,500,000		7,500,165
Natixis New York 2.220%, 06/11/18		1,000,000		1,000,166
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (k)		2,000,000		1,998,788
1.846%, 1M LIBOR + 0.160%, 04/05/18 (k)		2,500,000		2,499,957
Standard Chartered plc 1.864%, 1M LIBOR + 0.200%, 05/01/18 (k)		7,000,000		6,998,488
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (k)		3,000,000		2,997,750
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (k)		7,000,000		6,999,748
1.930%, 1M LIBOR + 0.190%, 04/12/18 (k)		5,000,000		4,999,785
2.010%, 1M LIBOR + 0.270%, 09/10/18 (k)		5,000,000		4,998,505
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (k)		8,000,000		8,003,076
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (k)		3,500,000		3,499,688
				90,791,525
Commercial Paper—0.9%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (k)		5,000,000		4,999,545
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		3,987,151		3,995,696
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (k)		1,000,000		999,644

BHFTI-20

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (j)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Ridgefield Funding Co. LLC 1.800%, 04/03/18		9,955,000	$	9,999,500
2.018%, 1M LIBOR + 0.210%, 05/17/18 (k)		4,000,000		3,999,424
2.200%, 06/07/18		1,988,756		1,991,704
Sheffield Receivables Co. 1.892%, 1M LIBOR + 0.190%, 06/07/18 (k)		2,499,746		2,499,820
2.080%, 05/21/18		3,482,002		3,489,752
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (k)		10,000,000		9,998,560
				41,973,645
Repurchase Agreements—0.6%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $7,741,583; collateralized by various Common Stock with an aggregate market value of $8,250,001.		7,500,000		7,500,000
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $803,818; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $888,570.		800,000		800,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $8,652,889; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $9,441,052.		8,500,000		8,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,085,025; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,106,518.		1,084,819		1,084,819
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $3,113,544; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $3,245,950.		3,000,000		3,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $3,003,133; collateralized by various Common Stock with an aggregate market value of $3,336,780.		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $3,000,758; collateralized by various Common Stock with an aggregate market value of $3,335,172.		3,000,000		3,000,000
				27,884,819
Time Deposit—0.1%
Australia New Zealand Bank 1.670%, 04/02/18		5,000,000		5,000,000
Total Securities Lending Reinvestments (Cost $165,662,241)				165,649,989
Total Investments—102.8% (Cost $4,088,697,894)				5,028,871,504
Other assets and liabilities (net)—(2.8)%				(137,379,262	)
Net Assets—100.0%			$	4,891,492,242

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $146,807,191 and the collateral received consisted of cash in the amount of $165,597,474. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(d)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent less than 0.05% of net assets.
(e)	Illiquid security. As of March 31, 2018, these securities represent 0.0% of net assets.
(f)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $133,547,703.
(g)	Affiliated Issuer.
(h)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $67,208,203.
(i)	The rate shown represents current yield to maturity.
(j)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(k)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $73,121,231, which is 1.5% of net assets.

BHFTI-21

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	13,388	SSBT		06/07/18		USD	10,374	$	(90	)
CHF	10,790	SSBT		04/12/18		USD	11,373		(80	)
JPY	1,065,515,839	CSI		06/19/18		USD	9,917,491		147,214
NOK	50,812,207	BNP		06/19/18		USD	6,542,774		(45,175	)
NOK	271,501,888	BNP		06/19/18		USD	34,959,619		(241,382	)
ZAR	221,488	SSBT		04/13/18		USD	18,476		208
Contracts to Deliver
AUD	14,198,346	BNP		06/07/18		USD	10,983,557		77,334
AUD	52,053,667	BNP		06/19/18		USD	40,838,970		851,995
AUD	23,184,560	BNP		06/19/18		USD	18,045,002		234,913
CAD	8,811,464	BBP		04/12/18		USD	7,099,275		258,577
CAD	7,318,052	BBP		06/19/18		USD	5,693,024		4,645
CHF	517,800	HSBC		04/12/18		USD	535,671		(6,305	)
CHF	60,751,412	CSI		06/19/18		USD	64,541,687		586,795
CHF	8,001,387	CSI		06/19/18		USD	8,605,058		181,750
DKK	16,748,273	SSBT		05/25/18		USD	2,814,522		39,908
EUR	83,860,027	RBS		05/15/18		USD	103,895,697		408,480
EUR	83,860,027	CBNA		05/30/18		USD	104,061,572		463,532
EUR	1,059,852	HSBC		05/30/18		USD	1,316,948		7,640
EUR	27,862,000	CBNA		06/19/18		USD	34,730,569		255,759
EUR	53,170,505	CSI		06/19/18		USD	65,991,987		201,913
GBP	27,392,467	SCB		04/13/18		USD	38,999,805		553,639
GBP	31,335,479	BOA		06/19/18		USD	43,409,735		(692,656	)
GBP	15,024,906	BBP		06/19/18		USD	20,941,475		(204,980	)
GBP	24,770,000	MSIP		06/19/18		USD	34,564,536		(297,425	)
JPY	6,485,363,247	HSBC		04/26/18		USD	59,600,175		(1,428,729	)
JPY	6,678,460,626	MSIP		04/26/18		USD	62,370,188		(475,811	)
JPY	8,356,773,900	CBNA		06/19/18		USD	79,469,302		532,450
JPY	1,065,515,839	CBNA		06/19/18		USD	10,132,594		67,889
MXN	61,989,865	JPMC		04/20/18		USD	3,293,602		(107,338	)
NOK	10,841,751	JPMC		05/25/18		USD	1,413,395		28,177
NOK	50,812,207	CSI		06/19/18		USD	6,377,533		(120,066	)
NZD	7,589,739	MSIP		06/19/18		USD	5,525,975		42,267
PLN	8,142,494	CBNA		05/16/18		USD	2,405,571		25,350
SEK	19,246,331	JPMC		05/25/18		USD	2,362,627		49,161
SEK	198,247,063	MSIP		06/19/18		USD	24,155,630		278,926
SGD	2,965,992	CBNA		05/17/18		USD	2,248,803		(15,528	)
ZAR	31,370,561	MSIP		04/13/18		USD	2,578,946		(67,382	)
ZAR	8,232,705	SSBT		04/13/18		USD	702,426		7,940
Net Unrealized Appreciation								$	1,603,515

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Canada Government Bond 10 Year Futures		06/20/18		300		CAD	39,981,000	$	600,200
Euro-Bund Futures		06/07/18		494		EUR	78,758,420		1,433,105
MSCI EAFE Index Mini Futures		06/15/18		85		USD	8,502,550		(58,929	)
Russell 2000 Index Mini Futures		06/15/18		728		USD	55,735,680		(1,684,988	)
S&P Midcap 400 Index E-Mini Futures		06/15/18		526		USD	99,051,060		(2,239,440	)
TOPIX Index Futures		06/07/18		1,092		JPY	18,744,180,000		1,540,517
U.S. Treasury Note 10 Year Futures		06/20/18		3,618		USD	438,286,781		3,499,945
U.S. Treasury Ultra Long Bond Futures		06/20/18		516		USD	82,801,875		2,472,283
United Kingdom Long Gilt Bond Futures		06/27/18		107		GBP	13,141,740		234,724

BHFTI-22

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		06/15/18		(93	)		AUD	(12,054,372	)	$	(160,767	)
Euro Stoxx 50 Index Futures		06/15/18		(3,246	)		EUR	(106,501,260	)		2,847,947
FTSE 100 Index Futures		06/15/18		(183	)		GBP	(12,798,105	)		343,792
Japanese Government 10 Year Bond Futures		06/13/18		(131	)		JPY	(19,750,870,000	)		(80,670	)
S&P 500 Index E-Mini Futures		06/15/18		(511	)		USD	(67,528,650	)		1,692,039
SPI 200 Index Futures		06/21/18		(536	)		AUD	(76,862,400	)		2,458,604
Net Unrealized Appreciation										$	12,898,362

Swap Agreements

OTC Total Return Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Counterparty

Underlying Reference Instrument

Notional Amount

Market Value

Upfront Premium Paid/(Received)

Unrealized Appreciation(1)

Receive

3M LIBOR

Maturity

2.125%

Maturity

06/15/18

CBNA

S&P 500 Total Return Index

USD

442,272,175

$

16,953,104

$

—

$

16,953,104

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Notional Amount

Market Value

Upfront Premiums Paid/(Received)

Unrealized Appreciation(1)

Pay

3M LIBOR

Quarterly

2.895

%

Semi-Annually

03/28/28

USD

1,202,900,000

$

9,268,705

$

—

$

9,268,705

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BNP)—	BNP Paribas S.A.
(BOA)—	Bank of America N.A.
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(RBS)—	Royal Bank of Scotland plc
(SCB)—	Standard Chartered Bank
(SSBT)—	State Street Bank and Trust

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(JPY)—	Japanese Yen
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(NZD)—	New Zealand Dollar
(PLN)—	Polish Zloty
(SEK)—	Swedish Krona
(SGD)—	Singapore Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(ADR)—	American Depositary Receipt
(ETF)—	Exchange-Traded Fund
(REIT)—	Real Estate Investment Trust

BHFTI-23

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	39,684,718	$	20,162,852	$	—	$	59,847,570
Air Freight & Logistics		9,418,949		6,457,901		—		15,876,850
Airlines		7,185,681		3,104,954		—		10,290,635
Auto Components		2,356,827		21,625,573		—		23,982,400
Automobiles		5,868,749		53,594,816		—		59,463,565
Banks		89,909,462		184,002,753		0		273,912,215
Beverages		27,176,433		35,059,523		—		62,235,956
Biotechnology		36,291,214		12,422,620		—		48,713,834
Building Products		4,336,302		11,757,528		—		16,093,830
Capital Markets		42,967,954		39,043,765		—		82,011,719
Chemicals		28,518,945		58,573,342		—		87,092,287
Commercial Services & Supplies		4,128,109		7,623,267		—		11,751,376
Communications Equipment		14,981,911		5,326,433		—		20,308,344
Construction & Engineering		1,228,140		14,497,741		—		15,725,881
Construction Materials		1,697,880		9,611,429		—		11,309,309
Consumer Finance		10,160,994		722,487		—		10,883,481
Containers & Packaging		4,831,243		1,558,915		—		6,390,158
Distributors		1,499,024		269,576		—		1,768,600
Diversified Consumer Services		321,564		267,082		—		588,646
Diversified Financial Services		23,695,458		12,521,097		—		36,216,555
Diversified Telecommunication Services		26,054,644		34,405,416		—		60,460,060
Electric Utilities		24,150,669		25,991,602		—		50,142,271
Electrical Equipment		7,542,980		22,847,713		—		30,390,693
Electronic Equipment, Instruments & Components		6,353,747		23,466,167		—		29,819,914
Energy Equipment & Services		10,699,427		1,363,518		—		12,062,945
Equity Real Estate Investment Trusts		118,528,159		62,780,040		—		181,308,199
Food & Staples Retailing		23,170,526		22,638,842		—		45,809,368
Food Products		15,766,664		44,003,007		—		59,769,671
Gas Utilities		—		5,454,838		—		5,454,838
Health Care Equipment & Supplies		39,606,107		20,221,887		—		59,827,994
Health Care Providers & Services		37,365,919		8,978,823		—		46,344,742
Health Care Technology		1,105,480		996,368		—		2,101,848
Hotels, Restaurants & Leisure		25,671,110		22,232,609		—		47,903,719
Household Durables		5,246,757		19,380,480		—		24,627,237
Household Products		20,190,502		10,581,022		—		30,771,524
Independent Power and Renewable Electricity Producers		1,010,428		1,290,671		—		2,301,099
Industrial Conglomerates		23,425,965		21,492,482		—		44,918,447
Insurance		35,447,495		84,422,754		—		119,870,249
Internet & Direct Marketing Retail		50,172,224		1,920,613		—		52,092,837
Internet Software & Services		64,559,198		2,924,967		—		67,484,165

BHFTI-24

Brighthouse Funds Trust I

AB Global Dynamic Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
IT Services	$	58,677,423		$	12,468,744		$	—	$	71,146,167
Leisure Products		849,830			2,980,464			—		3,830,294
Life Sciences Tools & Services		11,638,041			3,135,973			—		14,774,014
Machinery		23,006,963			43,518,848			—		66,525,811
Marine		—			3,164,772			—		3,164,772
Media		35,187,367			16,046,610			—		51,233,977
Metals & Mining		3,866,748			46,626,986			—		50,493,734
Multi-Utilities		12,771,214			15,617,773			—		28,388,987
Multiline Retail		6,669,684			4,839,644			—		11,509,328
Oil, Gas & Consumable Fuels		67,614,411			79,108,177			—		146,722,588
Paper & Forest Products		—			4,665,866			—		4,665,866
Personal Products		2,546,112			31,161,759			—		33,707,871
Pharmaceuticals		64,005,145			106,724,493			—		170,729,638
Professional Services		3,965,593			18,142,816			—		22,108,409
Real Estate Management & Development		1,352,492			62,652,277			—		64,004,769
Road & Rail		13,066,315			17,261,768			—		30,328,083
Semiconductors & Semiconductor Equipment		61,256,073			18,578,422			—		79,834,495
Software		80,187,521			22,782,254			—		102,969,775
Specialty Retail		29,806,974			11,743,569			—		41,550,543
Technology Hardware, Storage & Peripherals		59,884,922			8,667,328			—		68,552,250
Textiles, Apparel & Luxury Goods		10,057,792			30,749,839			—		40,807,631
Tobacco		16,559,787			21,158,933			—		37,718,720
Trading Companies & Distributors		3,433,936			21,332,983			—		24,766,919
Transportation Infrastructure		—			10,144,703			—		10,144,703
Water Utilities		885,033			1,334,166			—		2,219,199
Wireless Telecommunication Services		—			23,599,028			—		23,599,028
Total Common Stocks		1,459,616,934			1,573,805,668			0		3,033,422,602
Total U.S. Treasury & Government Agencies*		—			986,314,707			—		986,314,707
Total Foreign Government*		—			406,491,339			—		406,491,339
Mutual Funds
Investment Company Securities		202,317,591			464,680			—		202,782,271
Total Preferred Stocks*		—			8,707,806			—		8,707,806
Total Rights*		4,201			—			—		4,201
Total Short-Term Investments*		—			225,498,589			—		225,498,589
Total Securities Lending Reinvestments*		—			165,649,989			—		165,649,989
Total Investments	$	1,661,938,726		$	3,366,932,778		$	0	$	5,028,871,504
Collateral for Securities Loaned (Liability)	$	—		$	(165,597,474	)	$	—	$	(165,597,474	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	5,306,462		$	—	$	5,306,462
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(3,702,947	)		—		(3,702,947	)
Total Forward Contracts	$	—		$	1,603,515		$	—	$	1,603,515
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	17,123,156		$	—		$	—	$	17,123,156
Futures Contracts (Unrealized Depreciation)		(4,224,794	)		—			—		(4,224,794	)
Total Futures Contracts	$	12,898,362		$	—		$	—	$	12,898,362
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	9,268,705		$	—	$	9,268,705
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	16,953,104		$	—	$	16,953,104

* See Consolidated Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $2,2,59,964 were due to the application of a systematic fair valuation model factor.

BHFTI-25

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—59.2% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.9%
Boeing Co. (The)		1,211	$	397,063
General Dynamics Corp.		1,189		262,650
Huntington Ingalls Industries, Inc.		1,463		377,103
Northrop Grumman Corp.		2,303		804,023
Spirit AeroSystems Holdings, Inc. - Class A		485		40,595
				1,881,434
Air Freight & Logistics—0.6%
Deutsche Post AG		14,113		617,152
FedEx Corp.		2,090		501,830
				1,118,982
Airlines—0.7%
Air France-KLM (a)		5,784		64,260
Air New Zealand, Ltd.		38,437		89,937
ANA Holdings, Inc.		9,200		355,908
Deutsche Lufthansa AG		2,756		88,037
Exchange Income Corp.		3,917		93,824
International Consolidated Airlines Group S.A.		41,977		362,550
JetBlue Airways Corp. (a)		5,863		119,136
SkyWest, Inc.		2,798		152,211
Southwest Airlines Co.		2,327		133,291
				1,459,154
Auto Components—1.0%
Bridgestone Corp.		300		13,171
Cie Automotive S.A.		6,789		242,988
Dana, Inc.		10,962		282,381
Exedy Corp.		600		18,978
Faurecia S.A.		1,216		98,528
FCC Co., Ltd.		5,700		160,837
Futaba Industrial Co., Ltd.		7,600		64,316
Grammer AG		2,016		126,529
Hella GmbH & Co. KGaA		1,372		90,259
Ichikoh Industries, Ltd.		7,000		75,931
Kongsberg Automotive ASA (a)		29,173		33,434
Lear Corp.		2,164		402,699
Sogefi S.p.A. (a)		18,254		65,948
Standard Motor Products, Inc.		513		24,404
Stoneridge, Inc. (a)		8,074		222,842
Toyoda Gosei Co., Ltd.		800		18,454
Xinyi Glass Holdings, Ltd.		76,000		115,969
				2,057,668
Automobiles—2.1%
Daimler AG		8,777		745,827
Fiat Chrysler Automobiles NV		20,234		415,202
Ford Motor Co.		37,948		420,464
General Motors Co.		16,335		593,614
Nissan Motor Co., Ltd.		48,200		498,858
Peugeot S.A.		1,006		24,227
Subaru Corp.		500		16,549
Suzuki Motor Corp.		8,500		461,423
Toyota Motor Corp.		16,000		1,042,791
				4,218,955
Banks—4.5%
Bank of America Corp.		41,131		1,233,519
Berkshire Hills Bancorp, Inc.		342		12,979
BNP Paribas S.A.		5,386		399,347
BOC Hong Kong Holdings, Ltd.		104,000		509,998
Brookline Bancorp, Inc.		8,265		133,893
Cathay General Bancorp		1,492		59,650
Citigroup, Inc.		11,580		781,650
Citizens Financial Group, Inc.		2,634		110,575
Danske Bank A/S		1,526		57,030
DBS Group Holdings, Ltd.		16,700		352,285
Erste Group Bank AG		8,025		403,598
First International Bank of Israel, Ltd.		3,952		83,486
Great Southern Bancorp, Inc.		242		12,088
Heartland Bank, Ltd.		13,369		17,032
HSBC Holdings plc		31,528		294,719
Intesa Sanpaolo S.p.A.		158,558		578,227
Israel Discount Bank, Ltd. - Class A (a)		11,350		32,642
JPMorgan Chase & Co.		2,276		250,292
Mitsubishi UFJ Financial Group, Inc.		48,800		323,893
Oversea-Chinese Banking Corp., Ltd.		38,900		383,173
Peoples Bancorp, Inc.		1,485		52,643
QCR Holdings, Inc.		913		40,948
Raiffeisen Bank International AG (a)		10,419		405,947
Regions Financial Corp.		25,738		478,212
Royal Bank of Canada		6,543		505,421
Royal Bank of Canada (U.S. Listed Shares)		5,504		425,404
Spar Nord Bank A/S		8,467		101,168
Sparebank 1 Nord Norge		2,534		20,095
Sparebanken Vest		5,893		38,697
Sumitomo Mitsui Financial Group, Inc.		9,800		415,564
Sydbank A/S		310		11,431
Toronto-Dominion Bank (The) (U.S. Listed Shares)		7,470		424,670
				8,950,276
Beverages—0.9%
Coca-Cola HBC AG (a)		11,305		418,280
Constellation Brands, Inc. - Class A		1,572		358,290
PepsiCo, Inc.		9,663		1,054,716
				1,831,286
Biotechnology—1.5%
AbbVie, Inc.		8,293		784,932
Amgen, Inc.		5,571		949,744
Biogen, Inc. (a)		1,202		329,132
Gilead Sciences, Inc.		9,545		719,598
PDL BioPharma, Inc. (a)		59,880		176,047
				2,959,453
Building Products—0.2%
Insteel Industries, Inc.		3,819		105,519
Owens Corning		3,634		292,174
				397,693
Capital Markets—1.3%
Bank of New York Mellon Corp. (The)		8,526		439,345

BHFTI-26

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Capital Markets—(Continued)
CME Group, Inc.		1,068	$	172,738
Morgan Stanley		16,000		863,360
Natixis S.A.		55,560		456,049
S&P Global, Inc.		3,592		686,287
				2,617,779
Chemicals—1.9%
Arkema S.A.		2,112		275,790
Borregaard ASA		17,147		162,542
Clariant AG (a)		11,579		276,496
Covestro AG (144A)		4,422		435,264
Denka Co., Ltd.		2,800		95,124
Dongyue Group, Ltd.		203,000		198,569
DowDuPont, Inc.		9,959		634,488
Ercros S.A.		14,938		78,195
Hodogaya Chemical Co., Ltd.		4,100		182,666
Huntsman Corp.		8,685		254,036
Koppers Holdings, Inc. (a)		1,246		51,211
LyondellBasell Industries NV - Class A		5,325		562,746
Mitsubishi Chemical Holdings Corp.		19,400		188,403
Shin-Etsu Chemical Co., Ltd.		2,400		249,500
Trinseo S.A.		1,610		119,221
				3,764,251
Commercial Services & Supplies—0.7%
Brady Corp. - Class A		3,647		135,486
Derichebourg S.A.		6,199		54,631
Downer EDI, Ltd.		3,926		19,514
Elis S.A.		5,251		130,040
Ennis, Inc.		967		19,050
Johnson Service Group plc		25,374		48,236
KAR Auction Services, Inc.		5,528		299,618
Kimball International, Inc. - Class B		3,532		60,185
Quad/Graphics, Inc.		6,151		155,928
RPS Group plc		11,721		41,980
SmartGroup Corp., Ltd.		8,795		74,466
SP Plus Corp. (a)		4,294		152,866
Viad Corp.		2,339		122,680
				1,314,680
Communications Equipment—0.6%
Cisco Systems, Inc.		28,424		1,219,105
Construction & Engineering—0.5%
ACS Actividades de Construccion y Servicios S.A.		3,302		128,829
Eiffage S.A.		433		49,326
Galliford Try plc		3,240		37,990
Kyudenko Corp.		3,500		171,889
Nishimatsu Construction Co., Ltd.		7,600		189,688
Peab AB		19,681		177,262
PS Mitsubishi Construction Co., Ltd.		8,400		56,008
Toshiba Plant Systems & Services Corp.		2,600		56,930
Vinci S.A.		949		93,440
				961,362
Construction Materials—0.2%
Boral, Ltd.		27,389		157,569
CSR, Ltd.		35,168		140,758
Fletcher Building, Ltd.		15,713		68,640
				366,967
Consumer Finance—0.1%
Ally Financial, Inc.		4,540		123,261
Containers & Packaging—0.4%
Avery Dennison Corp.		1,161		123,356
Berry Global Group, Inc. (a)		3,090		169,363
Smurfit Kappa Group plc		573		23,272
Smurfit Kappa Group plc (London Traded Shares)		9,655		391,408
				707,399
Distributors—0.0%
Funko, Inc. - Class A (a) (b)		10,803		88,693
Diversified Financial Services—0.3%
Berkshire Hathaway, Inc. - Class B (a)		1,396		278,474
Plus500, Ltd.		14,853		238,527
Voya Financial, Inc.		3,000		151,500
				668,501
Diversified Telecommunication Services—1.6%
AT&T, Inc.		26,092		930,180
Koninklijke KPN NV		29,388		88,226
Nippon Telegraph & Telephone Corp.		12,300		571,392
Orange S.A.		29,834		506,663
Verizon Communications, Inc.		25,359		1,212,667
				3,309,128
Electric Utilities—1.8%
American Electric Power Co., Inc.		6,550		449,265
AusNet Services		22,901		29,658
CLP Holdings, Ltd.		36,000		368,005
Exelon Corp.		9,696		378,241
Iberdrola S.A.		75,198		553,098
NextEra Energy, Inc.		5,089		831,186
PG&E Corp.		5,351		235,069
PPL Corp.		16,203		458,383
Southern Co. (The)		5,551		247,908
				3,550,813
Electrical Equipment—0.1%
Fujikura, Ltd.		3,000		20,233
Philips Lighting NV (144A)		4,028		151,537
Tatsuta Electric Wire and Cable Co., Ltd.		9,100		55,302
				227,072
Electronic Equipment, Instruments & Components—1.3%
ALSO Holding AG (a)		713		94,114
Arrow Electronics, Inc. (a)		4,121		317,399
Citizen Watch Co., Ltd.		14,200		100,121

BHFTI-27

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—(Continued)
Control4 Corp. (a)		2,229	$	47,879
Corning, Inc.		12,191		339,885
Flex, Ltd. (a)		1,071		17,489
Hitachi, Ltd.		75,000		547,158
Hosiden Corp.		8,300		104,097
Jabil, Inc.		737		21,174
Orbotech, Ltd. (a)		4,415		274,525
Sanmina Corp. (a)		569		14,879
Sumida Corp.		8,300		106,059
SYNNEX Corp.		1,780		210,752
Venture Corp., Ltd.		15,500		334,743
				2,530,274
Equity Real Estate Investment Trusts—0.4%
Equity Lifestyle Properties, Inc.		3,836		336,686
Fortune Real Estate Investment Trust		38,000		46,167
Gaming and Leisure Properties, Inc.		9,112		304,979
ICADE		1,434		139,364
Keppel DC REIT		24,100		26,574
MedEquities Realty Trust, Inc.		4,682		49,208
				902,978
Food & Staples Retailing—0.7%
CVS Health Corp.		8,560		532,518
George Weston, Ltd.		157		12,639
Ingles Markets, Inc. - Class A		5,045		170,773
Metcash, Ltd.		103,051		249,067
Qol Co., Ltd.		2,100		41,577
Rallye S.A. (b)		1,522		22,874
Shufersal, Ltd.		8,691		55,430
Sysco Corp.		4,060		243,438
Walmart, Inc.		1,619		144,042
				1,472,358
Food Products—1.1%
Bunge, Ltd.		3,399		251,322
Feed One Co., Ltd.		19,100		39,122
Fonterra Co-operative Group, Ltd.		14,264		61,014
Grieg Seafood ASA		26,217		243,086
Ingredion, Inc.		1,697		218,777
John B Sanfilippo & Son, Inc.		1,192		68,981
Leroy Seafood Group ASA		17,770		110,431
Morinaga Milk Industry Co., Ltd.		4,400		178,972
Pinnacle Foods, Inc.		4,576		247,562
Sanderson Farms, Inc.		1,921		228,637
Tyson Foods, Inc. - Class A		2,672		195,564
Warabeya Nichiyo Holdings Co., Ltd.		1,800		44,927
WH Group, Ltd. (144A)		321,000		345,041
				2,233,436
Gas Utilities—0.3%
Atmos Energy Corp.		3,600		303,264
UGI Corp.		5,811		258,125
				561,389
Health Care Equipment & Supplies—1.0%
Baxter International, Inc.		6,302		409,882
Intuitive Surgical, Inc. (a)		987		407,463
LeMaitre Vascular, Inc.		3,443		124,740
Masimo Corp. (a)		3,166		278,450
Medtronic plc		5,833		467,923
Teleflex, Inc.		1,013		258,295
				1,946,753
Health Care Providers & Services—2.3%
Aetna, Inc.		3,871		654,199
Anthem, Inc.		3,102		681,509
Centene Corp. (a)		4,067		434,640
Express Scripts Holding Co. (a)		8,197		566,249
HCA Healthcare, Inc.		4,027		390,619
Medical Facilities Corp.		2,160		23,522
Quest Diagnostics, Inc.		3,340		335,002
UnitedHealth Group, Inc.		5,939		1,270,946
WellCare Health Plans, Inc. (a)		1,649		319,296
				4,675,982
Hotels, Restaurants & Leisure—1.8%
Aramark		4,334		171,453
Aristocrat Leisure, Ltd.		18,738		349,331
Carnival plc		5,538		356,847
Genting Singapore plc		272,300		225,667
Great Canadian Gaming Corp. (a)		1,828		46,454
Marcus Corp. (The)		1,309		39,728
McDonald’s Corp.		5,862		916,699
Melia Hotels International S.A.		5,759		81,433
Restaurant Brands International, Inc.		5,892		335,373
Royal Caribbean Cruises, Ltd.		4,120		485,089
Star Entertainment Group, Ltd. (The)		15,430		63,282
Vail Resorts, Inc.		1,092		242,096
Yum! Brands, Inc.		3,759		320,004
				3,633,456
Household Durables—1.7%
Barratt Developments plc		38,663		287,993
Bassett Furniture Industries, Inc.		2,458		74,600
Bellway plc		4,904		210,080
D.R. Horton, Inc.		1,021		44,761
Garmin, Ltd.		3,308		194,941
Hooker Furniture Corp.		796		29,213
Hoosiers Holdings Co., Ltd. (b)		7,400		53,424
LEC, Inc.		3,700		136,609
Mohawk Industries, Inc. (a)		1,341		311,407
Persimmon plc		10,870		386,455
Sekisui Chemical Co., Ltd.		15,600		272,969
Sekisui House, Ltd.		18,200		334,591
SodaStream International, Ltd. (a)		1,033		94,860
Sony Corp.		14,800		720,749
Taylor Wimpey plc		116,417		301,992
				3,454,644

BHFTI-28

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Household Products—0.2%
Central Garden and Pet Co. (a)		2,953	$	126,979
Procter & Gamble Co. (The)		2,734		216,752
				343,731
Independent Power and Renewable Electricity Producers—0.0%
ERG S.p.A.		4,103		98,155
Industrial Conglomerates—1.1%
3M Co.		4,328		950,082
CK Hutchison Holdings, Ltd.		41,500		498,938
Honeywell International, Inc.		5,412		782,088
				2,231,108
Insurance—3.5%
AIA Group, Ltd.		50,600		431,966
Allstate Corp. (The)		5,807		550,504
American Financial Group, Inc.		2,865		321,510
ASR Nederland NV		3,085		132,074
Axis Capital Holdings, Ltd.		3,572		205,640
Direct Line Insurance Group plc		20,014		107,158
Employers Holdings, Inc.		2,829		114,433
Everest Re Group, Ltd.		685		175,922
Hartford Financial Services Group, Inc. (The)		8,016		412,984
Heritage Insurance Holdings, Inc.		715		10,839
Marsh & McLennan Cos., Inc.		4,817		397,836
Muenchener Rueckversicherungs-Gesellschaft AG		1,686		392,111
Principal Financial Group, Inc.		5,861		356,994
Prudential Financial, Inc.		5,249		543,534
Reinsurance Group of America, Inc.		1,022		157,388
SCOR SE		7,893		323,269
Sompo Holdings, Inc.		6,200		250,555
Storebrand ASA		29,763		243,670
Swiss Life Holding AG (a)		964		343,445
Swiss Re AG		5,227		532,232
Travelers Cos., Inc. (The)		2,667		370,340
Zurich Insurance Group AG (a)		1,840		603,768
				6,978,172
Internet & Direct Marketing Retail—0.5%
Amazon.com, Inc. (a)		630		911,824
Internet Software & Services—1.0%
Alphabet, Inc. - Class A (a)		55		57,043
Alphabet, Inc. - Class C (a)		762		786,224
Facebook, Inc. - Class A (a)		7,319		1,169,503
Meet Group, Inc. (The) (a)		37,295		77,946
				2,090,716
IT Services—1.5%
Automatic Data Processing, Inc.		1,529		173,511
Bechtle AG		2,211		179,354
Booz Allen Hamilton Holding Corp.		8,130		314,794
Capgemini SE		3,470		432,777
Convergys Corp.		648		14,658
DXC Technology Co.		2,200		221,166
IT Services—(Continued)
Euronet Worldwide, Inc. (a)		1,656		130,691
Itochu Techno-Solutions Corp.		1,600		32,999
Leidos Holdings, Inc.		5,135		335,829
MasterCard, Inc.-Class A		1,412		247,326
Net 1 UEPS Technologies, Inc. (a)		8,400		79,464
Science Applications International Corp.		2,879		226,865
Sykes Enterprises, Inc. (a)		6,653		192,538
Total System Services, Inc.		1,872		161,479
Visa, Inc. - Class A		2,099		251,082
				2,994,533
Life Sciences Tools & Services—0.2%
PRA Health Sciences, Inc. (a)		3,589		297,743
Thermo Fisher Scientific, Inc.		678		139,980
				437,723
Machinery—1.1%
Bobst Group S.A.		879		97,300
CKD Corp.		10,300		223,637
Conzzeta AG		81		96,830
Cummins, Inc.		2,516		407,819
Douglas Dynamics, Inc.		1,028		44,564
Fincantieri S.p.A. (a)		98,603		144,698
Fukushima Industries Corp.		400		17,426
Illinois Tool Works, Inc.		287		44,961
Kadant, Inc.		486		45,927
Kyokuto Kaihatsu Kogyo Co., Ltd.		4,500		66,663
Lydall, Inc. (a)		1,804		87,043
PACCAR, Inc.		4,167		275,730
Park-Ohio Holdings Corp.		396		15,385
Prima Industrie S.p.A.		1,323		59,643
Stanley Black & Decker, Inc.		3,020		462,664
Valmet Oyj		4,409		88,478
Yangzijiang Shipbuilding Holdings, Ltd.		110,000		102,426
				2,281,194
Marine—0.1%
DFDS A/S		1,156		64,943
Wallenius Wilhelmsen Logistics (a)		19,772		139,673
				204,616
Media—0.9%
Comcast Corp. - Class A		25,271		863,510
Time Warner, Inc.		6,703		633,970
TV Tokyo Holdings Corp.		600		16,131
Walt Disney Co. (The)		3,402		341,697
				1,855,308
Metals & Mining—1.1%
Aichi Steel Corp.		700		28,786
AMG Advanced Metallurgical Group NV		4,826		215,862
APERAM S.A.		625		29,908
ArcelorMittal (a)		6,425		203,959
Boliden AB		5,907		208,242
Highland Gold Mining, Ltd.		19,455		41,858

BHFTI-29

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—(Continued)
Lucara Diamond Corp.		14,594	$	22,769
Mineral Resources, Ltd.		13,348		176,370
Norsk Hydro ASA		42,214		248,935
Rio Tinto plc		13,568		688,872
Teck Resources, Ltd.-Class B		12,607		324,756
				2,190,317
Mortgage Real Estate Investment Trusts—1.1%
AG Mortgage Investment Trust, Inc.		4,512		78,373
AGNC Investment Corp.		16,888		319,521
Annaly Capital Management, Inc.		35,781		373,196
Anworth Mortgage Asset Corp.		19,720		94,656
Apollo Commercial Real Estate Finance, Inc.		11,456		205,979
Ares Commercial Real Estate Corp.		5,893		72,778
Chimera Investment Corp.		12,279		213,777
Dynex Capital, Inc.		14,359		95,200
Granite Point Mortgage Trust, Inc.		843		13,943
Ladder Capital Corp.		1,137		17,146
Mortgage Investment Corp.		11,744		210,218
New Residential Investment Corp.		11,928		196,216
Two Harbors Investment Corp.		16,210		249,148
				2,140,151
Multi-Utilities—0.2%
CenterPoint Energy, Inc.		12,544		343,706
Multiline Retail—0.2%
Target Corp.		7,207		500,382
Oil, Gas & Consumable Fuels—2.1%
Andeavor		3,679		369,960
Avance Gas Holding, Ltd. (144A) (a)		5,918		17,491
Caltex Australia, Ltd.		9,205		223,524
China Aviation Oil Singapore Corp., Ltd.		36,600		44,039
Exxon Mobil Corp.		2,721		203,014
Galp Energia SGPS S.A.		22,066		416,217
GasLog Partners LP		3,377		78,684
Geopark, Ltd. (a)		8,382		103,937
Neste Oyj (b)		6,060		422,660
OMV AG		6,409		373,715
Repsol S.A.		26,375		468,595
Royal Dutch Shell plc - A Shares		16,783		535,249
Snam S.p.A.		81,939		376,919
Teekay Tankers, Ltd. - Class A		11,048		13,147
Valero Energy Corp.		6,594		611,725
				4,258,876
Paper & Forest Products—0.5%
Canfor Pulp Products, Inc.		988		12,722
Holmen AB - B Shares		4,705		255,515
Interfor Corp. (a)		4,147		75,611
Norbord, Inc.		5,099		184,868
UPM-Kymmene Oyj		13,648		506,460
Western Forest Products, Inc.		6,956		13,984
				1,049,160
Personal Products—0.1%
Best World International, Ltd.		90,000		127,228
Pharmaceuticals—1.2%
Allergan plc		1,317		221,638
Eli Lilly & Co.		4,743		366,966
Johnson & Johnson		13,188		1,690,042
Mallinckrodt plc (a)		2,214		32,059
Merck & Co., Inc.		1,321		71,955
Merck KGaA		197		18,899
				2,401,559
Professional Services—0.2%
Adecco Group AG		1,532		109,156
Barrett Business Services, Inc.		1,963		162,694
CBIZ, Inc. (a)		785		14,326
ICF International, Inc.		331		19,347
Navigant Consulting, Inc. (a)		1,328		25,551
				331,074
Real Estate Management & Development—0.2%
Allreal Holding AG (a)		74		12,181
Deutsche Wohnen SE		1,518		70,854
Entra ASA (144A)		10,851		148,037
Nexity S.A. (a)		2,989		191,750
				422,822
Road & Rail—0.4%
ArcBest Corp.		690		22,114
East Japan Railway Co.		5,200		485,240
National Express Group plc		4,771		25,924
Nobina AB (144A)		6,741		43,520
Sakai Moving Service Co., Ltd.		1,300		68,024
Senko Group Holdings Co., Ltd.		3,000		23,481
Union Pacific Corp.		1,164		156,477
West Japan Railway Co.		300		21,203
				845,983
Semiconductors & Semiconductor Equipment—3.9%
Alpha & Omega Semiconductor, Ltd. (a)		2,889		44,635
Applied Materials, Inc.		11,378		632,731
BE Semiconductor Industries NV		2,778		284,784
Cabot Microelectronics Corp.		1,894		202,866
Entegris, Inc.		5,168		179,846
Ichor Holdings, Ltd. (a)		8,846		214,162
Intel Corp.		28,358		1,476,885
KLA-Tencor Corp.		3,495		380,990
Lam Research Corp.		2,661		540,609
Maxim Integrated Products, Inc.		7,509		452,192
Micron Technology, Inc. (a)		13,941		726,884
Nanometrics, Inc. (a)		1,306		35,131
Nova Measuring Instruments, Ltd. (a)		3,091		83,859
NVIDIA Corp.		3,853		892,316
ON Semiconductor Corp. (a)		13,578		332,118
Photronics, Inc. (a)		1,775		14,644
Rohm Co., Ltd.		2,800		266,401

BHFTI-30

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Semiconductors & Semiconductor Equipment—(Continued)
Rudolph Technologies, Inc. (a)		8,766	$	242,818
Texas Instruments, Inc.		5,690		591,134
Tokyo Electron, Ltd.		500		92,342
Towa Corp.		4,700		63,888
Ultra Clean Holdings, Inc. (a)		9,192		176,946
				7,928,181
Software—1.0%
Adobe Systems, Inc. (a)		2,827		610,858
Microsoft Corp.		12,152		1,109,113
Red Hat, Inc. (a)		1,969		294,385
				2,014,356
Specialty Retail—0.3%
American Eagle Outfitters, Inc.		5,370		107,024
Best Buy Co., Inc.		333		23,307
Big 5 Sporting Goods Corp.		11,638		84,375
Bilia AB - A Shares		5,245		46,617
Home Depot, Inc. (The)		1,944		346,499
				607,822
Technology Hardware, Storage & Peripherals—2.3%
Apple, Inc.		19,812		3,324,057
Brother Industries, Ltd.		7,200		167,544
FUJIFILM Holdings Corp.		10,200		408,205
HP, Inc.		27,703		607,250
Logitech International S.A.		1,172		43,048
				4,550,104
Textiles, Apparel & Luxury Goods—0.2%
Chargeurs S.A.		1,461		42,722
PVH Corp.		2,406		364,341
				407,063
Thrifts & Mortgage Finance—0.1%
Walker & Dunlop, Inc.		4,654		276,541
Tobacco—0.2%
British American Tobacco plc (ADR)		5,373		309,968
Trading Companies & Distributors—0.7%
Aircastle, Ltd.		8,827		175,304
ITOCHU Corp.		11,600		225,869
Marubeni Corp.		55,300		402,652
Rush Enterprises, Inc. - Class A (a)		675		28,681
Sumitomo Corp.		21,000		351,673
United Rentals, Inc. (a)		1,237		213,667
				1,397,846
Transportation Infrastructure—0.0%
Enav S.p.A. (144A)		9,501		50,724
Water Utilities—0.0%
SJW Group		1,117	$	58,877
Wireless Telecommunication Services—0.6%
NTT DoCoMo, Inc.		11,400		290,239
SoftBank Group Corp.		4,600		342,648
Vodafone Group plc		182,910		500,843
				1,133,730
Total Common Stocks (Cost $101,471,687)				118,978,732
U.S. Treasury & Government Agencies—20.4%
U.S. Treasury—20.4%
U.S. Treasury Bonds 3.000%, 11/15/44		1,267,000		1,275,414
3.125%, 02/15/43 (d)		2,538,000		2,616,222
4.375%, 05/15/41 (e)		2,607,000		3,244,595
4.500%, 05/15/38 (e)		2,854,000		3,571,848
5.375%, 02/15/31		1,139,000		1,458,409
6.875%, 08/15/25		1,351,000		1,729,702
7.625%, 11/15/22		1,986,000		2,427,807
7.875%, 02/15/21		1,839,000		2,120,525
U.S. Treasury Notes 0.875%, 07/31/19		1,483,000		1,457,511
1.000%, 06/30/19		1,483,000		1,461,045
1.125%, 03/31/20		1,471,000		1,437,443
1.500%, 02/28/19		1,483,000		1,474,774
2.000%, 05/31/21		1,839,000		1,815,079
2.000%, 11/15/21		2,022,000		1,989,458
2.000%, 02/15/23 (d)		6,568,000		6,399,952
2.125%, 08/31/20		1,766,000		1,756,618
2.250%, 07/31/18 (e)		1,325,000		1,326,812
2.375%, 08/15/24		2,027,000		1,992,715
3.125%, 05/15/19		1,483,000		1,498,293
Total U.S. Treasury & Government Agencies (Cost $43,579,511)				41,054,222
Mutual Funds—5.3%
Investment Company Securities—5.3%
iPath Dow Jones-UBS Commodity Index Total Return ETN (a)		176,017		4,286,014
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF		328,617		6,440,893
Total Mutual Funds (Cost $10,861,725)				10,726,907
Rights—0.0%
Construction & Engineering—0.0%
Galliford Try plc, Expires 04/13/18 (a) (Cost $0)		1,080		4,243

BHFTI-31

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investment—13.9%

Security Description	Shares/ Principal Amount*		Value
Repurchase Agreement—4.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $7,990,732; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $8,152,237.		7,990,200	$	7,990,200
U.S. Treasury—9.9%
U.S. Treasury Bills 1.730%, 06/14/18 (e)		10,000,000		9,966,384
1.912%, 09/13/18 (e)		5,000,000		4,957,659
2.002%, 02/28/19 (e)		5,000,000		4,908,584
				19,832,627
Total Short-Term Investments (Cost $26,841,949)				27,822,827
Securities Lending Reinvestments (f)—0.3%
Repurchase Agreements—0.2%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $40,008; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $40,800.		40,000		40,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $15,543; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $15,851.		15,540		15,540
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $10,923; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $11,140.		10,921		10,921
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $40,191; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $44,428.		40,000		40,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $31,598; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $32,224.		31,592		31,592
Natixis New York Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $55,011; collateralized by U.S. Government Obligations with rates ranging from 0.000% - 8.750%, maturity dates ranging from 08/30/18 - 02/15/45, and an aggregate market value of $56,103.		55,000		55,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $40,253; collateralized by various Common Stock with an aggregate market value of $44,490.		40,000		40,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $100,020; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $102,000.		100,000		100,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $40,051; collateralized by various Common Stock with an aggregate market value of $44,469.		40,000		40,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $40,034; collateralized by various Common Stock with an aggregate market value of $44,469.		40,000		40,000
				413,053
Time Deposits—0.1%
DNB Bank ASA 1.640%, 04/02/18		20,000		20,000
DZ Bank AG 1.670%, 04/02/18		20,000		20,000
Nordea Bank New York 1.640%, 04/02/18		20,000		20,000
Svenska Handelsbanken AB 1.640%, 04/02/18		20,000		20,000
				80,000
Total Securities Lending Reinvestments (Cost $493,053)				493,053
Total Investments—99.1% (Cost $183,247,925)				199,079,984
Other assets and liabilities (net)—0.9%				1,816,474
Net Assets—100.0%			$	200,896,458

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $462,041 and the collateral received consisted of cash in the amount of $493,053. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	The rate shown represents current yield to maturity.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $2,572,128.
(e)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $3,192,910.

BHFTI-32

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

(f)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)	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. As of March 31, 2018, the market value of 144A securities was $1,191,614 which is 0.6% of net assets.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
British Pound Currency Futures		06/18/18		44			USD	3,865,950		$	28,331
Euro Currency Futures		06/18/18		24			USD	3,707,550			1,799
Japanese Yen Currency Futures		06/18/18		30			USD	3,541,313			(14,893	)
MSCI EAFE Index Mini Futures		06/15/18		63			USD	6,301,890			(76,358	)
MSCI Emerging Markets Index Mini Futures		06/15/18		52			USD	3,088,280			(61,293	)
S&P 500 Index E-Mini Futures		06/15/18		79			USD	10,439,850			(436,618	)
U.S. Treasury Note 2 Year Futures		06/29/18		115			USD	24,450,078			1,605
Futures Contracts—Short
Euro Stoxx 50 Index Futures		06/15/18		(87	)		EUR	(2,854,470	)		42,675
FTSE 100 Index Futures		06/15/18		(30	)		GBP	(2,098,050	)		19,519
U.S. Treasury Note 10 Year Futures		06/20/18		(46	)		USD	(5,572,469	)		(41,771	)
U.S. Treasury Note 5 Year Futures		06/29/18		(44	)		USD	(5,036,281	)		(15,044	)
U.S. Treasury Ultra Long Bond Futures		06/20/18		(60	)		USD	(9,628,125	)		(316,521	)
Net Unrealized Depreciation										$	(868,569	)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Depreciation(1)
Pay	3M LIBOR		Quarterly	2.200%	Semi-Annually		05/31/27		USD	8,000,000	$	(364,625	)	$	—	$	(364,625	)
Pay	3M LIBOR		Quarterly	2.302%	Semi-Annually		10/10/27		USD	6,000,000		(236,675	)		—		(236,675	)
Pay	3M LIBOR		Quarterly	2.522%	Semi-Annually		01/16/28		USD	45,000,000		(970,249	)		—		(970,249	)
Totals											$	(1,571,549	)	$	—	$	(1,571,549	)

(1) There is no upfront payment premium paid or received, therefore Market Value equals Unrealized Depreciation.

Glossary of Abbreviations

Currencies

(EUR)—	Euro
(GBP)—	British Pound
(USD)—	United States Dollar

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(ADR)—	American Depositary Receipt
(ETF)—	Exchange Traded Fund
(ETN)—	Exchange Traded Note

BHFTI-33

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	1,881,434	$	—	$	—	$	1,881,434
Air Freight & Logistics		501,830		617,152		—		1,118,982
Airlines		498,462		960,692		—		1,459,154
Auto Components		932,326		1,125,342		—		2,057,668
Automobiles		1,014,078		3,204,877		—		4,218,955
Banks		4,521,944		4,428,332		—		8,950,276
Beverages		1,413,006		418,280		—		1,831,286
Biotechnology		2,959,453		—		—		2,959,453
Building Products		397,693		—		—		397,693
Capital Markets		2,161,730		456,049		—		2,617,779
Chemicals		1,621,702		2,142,549		—		3,764,251
Commercial Services & Supplies		945,813		368,867		—		1,314,680
Communications Equipment		1,219,105		—		—		1,219,105
Construction & Engineering		—		961,362		—		961,362
Construction Materials		—		366,967		—		366,967
Consumer Finance		123,261		—		—		123,261
Containers & Packaging		292,719		414,680		—		707,399
Distributors		88,693		—		—		88,693
Diversified Financial Services		429,974		238,527		—		668,501
Diversified Telecommunication Services		2,142,847		1,166,281		—		3,309,128
Electric Utilities		2,600,052		950,761		—		3,550,813
Electrical Equipment		—		227,072		—		227,072
Electronic Equipment, Instruments & Components		1,243,982		1,286,292		—		2,530,274
Equity Real Estate Investment Trusts		690,873		212,105		—		902,978
Food & Staples Retailing		1,103,410		368,948		—		1,472,358
Food Products		1,210,843		1,022,593		—		2,233,436
Gas Utilities		561,389		—		—		561,389
Health Care Equipment & Supplies		1,946,753		—		—		1,946,753
Health Care Providers & Services		4,675,982		—		—		4,675,982
Hotels, Restaurants & Leisure		2,556,896		1,076,560		—		3,633,456
Household Durables		749,782		2,704,862		—		3,454,644
Household Products		343,731		—		—		343,731
Independent Power and Renewable Electricity Producers		—		98,155		—		98,155
Industrial Conglomerates		1,732,170		498,938		—		2,231,108
Insurance		3,617,924		3,360,248		—		6,978,172
Internet & Direct Marketing Retail		911,824		—		—		911,824
Internet Software & Services		2,090,716		—		—		2,090,716
IT Services		2,349,403		645,130		—		2,994,533
Life Sciences Tools & Services		437,723		—		—		437,723
Machinery		1,384,093		897,101		—		2,281,194

BHFTI-34

Brighthouse Funds Trust I

Allianz Global Investors Dynamic Multi-Asset Plus Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Marine	$	—		$	204,616		$	—	$	204,616
Media		1,839,177			16,131			—		1,855,308
Metals & Mining		347,525			1,842,792			—		2,190,317
Mortgage Real Estate Investment Trusts		2,140,151			—			—		2,140,151
Multi-Utilities		343,706			—			—		343,706
Multiline Retail		500,382			—			—		500,382
Oil, Gas & Consumable Fuels		1,380,467			2,878,409			—		4,258,876
Paper & Forest Products		287,185			761,975			—		1,049,160
Personal Products		—			127,228			—		127,228
Pharmaceuticals		2,382,660			18,899			—		2,401,559
Professional Services		221,918			109,156			—		331,074
Real Estate Management & Development		—			422,822			—		422,822
Road & Rail		178,591			667,392			—		845,983
Semiconductors & Semiconductor Equipment		7,136,907			791,274			—		7,928,181
Software		2,014,356			—			—		2,014,356
Specialty Retail		561,205			46,617			—		607,822
Technology Hardware, Storage & Peripherals		3,931,307			618,797			—		4,550,104
Textiles, Apparel & Luxury Goods		364,341			42,722			—		407,063
Thrifts & Mortgage Finance		276,541			—			—		276,541
Tobacco		309,968			—			—		309,968
Trading Companies & Distributors		417,652			980,194			—		1,397,846
Transportation Infrastructure		—			50,724			—		50,724
Water Utilities		58,877			—			—		58,877
Wireless Telecommunication Services		—			1,133,730			—		1,133,730
Total Common Stocks		78,046,532			40,932,200			—		118,978,732
Total U.S. Treasury & Government Agencies*		—			41,054,222			—		41,054,222
Total Mutual Funds*		10,726,907			—			—		10,726,907
Total Rights*		4,243			—			—		4,243
Total Short-Term Investment*		—			27,822,827			—		27,822,827
Total Securities Lending Reinvestments*		—			493,053			—		493,053
Total Investments	$	88,777,682		$	110,302,302		$	—	$	199,079,984
Collateral for Securities Loaned (Liability)	$	—		$	(493,053	)	$	—	$	(493,053	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	93,929		$	—		$	—	$	93,929
Futures Contracts (Unrealized Depreciation)		(962,498	)		—			—		(962,498	)
Total Futures Contracts	$	(868,569	)	$	—		$	—	$	(868,569	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—		$	(1,571,549	)	$	—	$	(1,571,549	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $768,769 were due to the application of a systematic fair valuation model factor.

BHFTI-35

Brighthouse Funds Trust I

American Funds Balanced Allocation Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		11,720,413	$	385,367,168
American Funds American Mutual Fund (Class R-6)		9,778,451		388,693,423
American Funds Blue Chip Income and Growth Fund (Class 1) (a)		26,349,146		381,272,141
American Funds Bond Fund (Class 1) (a)		58,683,622		625,567,410
American Funds Fundamental Investors Fund (Class R-6)		6,282,860		387,903,755
American Funds Global Bond Fund (Class 1) (a)		11,996,666		145,399,597
American Funds Global Small Capitalization Fund (Class 1) (a)		5,700,530		145,933,566
American Funds Growth Fund (Class 1) (a)		5,400,227		432,288,197
American Funds Growth-Income Fund (Class 1)		8,510,942		434,653,796
American Funds High-Income Bond Fund (Class 1) (a)		19,104,030		193,714,862
American Funds International Fund (Class 1) (a)		13,382,971		292,551,740
American Funds International Growth and Income Fund (Class 1) (a)		21,836,856		389,569,503
Investment Company Securities—(Continued)
American Funds New World Fund (Class 1)		3,814,404		97,496,169
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1) (a)		44,481,936		530,669,494
Total Mutual Funds (Cost $4,231,158,318)				4,831,080,821
Total Investments—100.1% (Cost $4,231,158,318)				4,831,080,821
Other assets and liabilities (net)—(0.1)%				(2,775,454	)
Net Assets—100.0%			$	4,828,305,367

(a) Affiliated Issuer.

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	4,831,080,821	$	—	$	—	$	4,831,080,821
Total Investments	$	4,831,080,821	$	—	$	—	$	4,831,080,821

BHFTI-36

Brighthouse Funds Trust I

American Funds Growth Allocation Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		11,533,475	$	379,220,648
American Funds American Mutual Fund (Class R-6)		7,998,411		317,936,838
American Funds Blue Chip Income and Growth Fund (Class 1) (a)		21,572,438		312,153,183
American Funds Bond Fund (Class 1)		11,972,020		127,621,731
American Funds Fundamental Investors Fund (Class R-6)		5,665,581		349,792,953
American Funds Global Bond Fund (Class 1)		5,264,221		63,802,356
American Funds Global Small Capitalization Fund (Class 1) (a)		6,231,721		159,532,066
American Funds Growth Fund (Class 1)		4,320,864		345,885,147
American Funds Growth-Income Fund (Class 1)		6,205,463		316,912,995
American Funds High-Income Bond Fund (Class 1) (a)		9,396,579		95,281,307
American Funds International Fund (Class 1) (a)		11,762,704		257,132,712
American Funds International Growth and Income Fund (Class 1) (a)		17,979,802		320,759,671
Investment Company Securities—(Continued)
American Funds New World Fund (Class 1)		3,756,866		96,025,495
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1)		2,671,282		31,868,397
Total Mutual Funds (Cost $2,606,978,360)				3,173,925,499
Total Investments—100.1% (Cost $2,606,978,360)				3,173,925,499
Other assets and liabilities (net)—(0.1)%				(1,907,344	)
Net Assets—100.0%			$	3,172,018,155

(a) Affiliated Issuer.

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	3,173,925,499	$	—	$	—	$	3,173,925,499
Total Investments	$	3,173,925,499	$	—	$	—	$	3,173,925,499

BHFTI-37

Brighthouse Funds Trust I

American Funds Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Fund—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Security—100.1%
American Funds Growth Fund (Class 1) (a) (Cost $958,986,763)		15,017,306	$	1,202,135,346
Total Investments—100.1% (Cost $958,986,763)				1,202,135,346
Other assets and liabilities (net)—(0.1)%				(822,035	)
Net Assets—100.0%			$	1,201,313,311

(a) Affiliated Issuer.

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Fund
Investment Company Security	$	1,202,135,346	$	—	$	—	$	1,202,135,346
Total Investments	$	1,202,135,346	$	—	$	—	$	1,202,135,346

BHFTI-38

Brighthouse Funds Trust I

American Funds Moderate Allocation Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—100.1% of Net Assets

Security Description	Shares		Value
Investment Company Securities—100.1%
American Funds AMCAP Fund (Class R-6)		4,231,131	$	139,119,585
American Funds American Mutual Fund (Class R-6)		6,382,778		253,715,436
American Funds Blue Chip Income and Growth Fund (Class 1)		15,330,791		221,836,544
American Funds Bond Fund (Class 1) (a)		50,800,772		541,536,229
American Funds Fundamental Investors Fund (Class R-6)		2,273,531		140,367,810
American Funds Global Bond Fund (Class 1) (a)		7,037,045		85,288,985
American Funds Global Small Capitalization Fund (Class 1)		1,099,902		28,157,501
American Funds Growth Fund (Class 1)		1,730,159		138,499,251
American Funds Growth-Income Fund (Class 1)		4,375,743		223,469,185
American Funds High-Income Bond Fund (Class 1) (a)		14,023,069		142,193,918
American Funds International Fund (Class 1)		6,483,646		141,732,504
American Funds International Growth and Income Fund (Class 1) (a)		9,561,696		170,580,656
Investment Company Securities—(Continued)
American Funds New World Fund (Class 1)		1,104,131		28,221,586
American Funds U.S. Government/AAA - Rated Securities Fund (Class 1) (a)		47,638,880		568,331,835
Total Mutual Funds (Cost $2,585,291,730)				2,823,051,025
Total Investments—100.1% (Cost $2,585,291,730)				2,823,051,025
Other assets and liabilities (net)—(0.1)%				(1,735,332	)
Net Assets—100.0%			$	2,821,315,693

(a) Affiliated Issuer.

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Investment Company Securities	$	2,823,051,025	$	—	$	—	$	2,823,051,025
Total Investments	$	2,823,051,025	$	—	$	—	$	2,823,051,025

BHFTI-39

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—25.3% of Net Assets

Security Description	Shares/ Principal Amount*		Value
U.S. Treasury—25.3%
U.S. Treasury Inflation Indexed Notes 0.125%, 04/15/20 (a)		158,654,339	$	158,036,568
0.125%, 04/15/21 (a)		234,118,796		232,125,129
0.125%, 04/15/22 (a)		149,868,742		147,756,185
0.125%, 07/15/26 (a)		129,939,295		124,878,816
0.375%, 07/15/25 (a)		61,866,368		61,084,594
0.375%, 07/15/27 (a)		66,104,775		64,488,789
0.625%, 01/15/26 (a)		115,739,491		115,722,322
Total U.S. Treasury & Government Agencies (Cost $903,317,146)				904,092,403
Foreign Government—18.9%
Sovereign—18.9%
Deutsche Bundesrepublik Inflation Linked Bonds 0.100%, 04/15/23 (EUR) (a)		76,806,170		101,971,451
0.100%, 04/15/26 (EUR) (a)		80,072,712		108,553,561
France Government Bond OAT 0.100%, 03/01/25 (EUR) (a)		47,337,930		62,738,712
0.100%, 03/01/28 (EUR) (a)		3,353,856		4,463,907
0.250%, 07/25/24 (EUR) (a)		30,171,809		40,867,973
0.700%, 07/25/30 (144A) (EUR) (a)		2,543,925		3,668,561
1.100%, 07/25/22 (EUR) (a)		43,435,990		60,032,460
1.850%, 07/25/27 (EUR) (a)		25,611,184		40,043,286
United Kingdom Gilt Inflation Linked Bonds 0.125%, 03/22/24 (GBP) (a)		91,445,640		144,336,486
0.125%, 03/22/26 (GBP) (a)		67,348,890		109,406,252
Total Foreign Government (Cost $627,390,259)				676,082,649
Short-Term Investments—51.3%
Mutual Funds—36.3%
BlackRock Liquidity Funds T-Fund Portfolio, Institutional Class, 1.547% (b)		305,732,019		305,732,019
Dreyfus Treasury Cash Management Fund, Institutional Class, 1.500% (b)		295,241,419		295,241,419
Mutual Funds—(Continued)
State Street Institutional Liquid Reserves Fund, Institutional Class, 1.790% (b) (c)		103,320,133		103,299,469
State Street Institutional Treasury Plus Money Market Fund, Class I, 1.592% (b) (c)		258,050,070		258,050,070
UBS Select Treasury Preferred Fund, Institutional Class, 1.560% (b)		331,594,725		331,594,725
				1,293,917,702
U.S. Treasury—15.0%
U.S. Treasury Bills 1.435%, 05/31/18 (d) (e)		46,983,000		46,854,539
1.460%, 06/14/18 (d)		18,195,000		18,133,836
1.480%, 06/21/18 (d)		5,891,000		5,868,860
1.575%, 07/05/18 (d) (e)		7,594,000		7,560,086
1.625%, 08/02/18 (d)		148,650,000		147,743,938
1.830%, 08/30/18 (d)		284,776,000		282,564,555
1.830%, 09/06/18 (d)		27,259,000		27,038,750
				535,764,564
Total Short-Term Investments (Cost $1,829,835,737)				1,829,682,266
Total Investments—95.5% (Cost $3,360,543,142)				3,409,857,318
Other assets and liabilities (net)—4.5%				160,060,346
Net Assets—100.0%			$	3,569,917,664

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Principal amount of security is adjusted for inflation.
(b)	The rate shown represents the annualized seven-day yield as of March 31, 2018.
(c)	All or a portion of the security was pledged as collateral against open swap contracts. As of March 31, 2018, the market value of securities pledged was $108,143,050.
(d)	The rate shown represents current yield to maturity.
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $4,665,233.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $3,668,561, which is 0.1% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	2,000,000	CBNA		06/20/18		USD	1,549,679	$	4,969
EUR	3,118,442	CBNA		06/20/18		USD	3,870,509		(11,613	)
EUR	3,125,001	CBNA		06/20/18		USD	3,895,038		(28,025	)
HKD	33,585,000	CBNA		06/20/18		USD	4,300,933		(10,787	)
JPY	206,000,000	CBNA		06/20/18		USD	1,958,951		(12,959	)
Contracts to Deliver
CAD	690,000	CBNA		06/20/18		USD	543,889		7,535
CAD	96,438	CBNA		06/20/18		USD	74,962		(2	)

BHFTI-40

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	96,438	CBNA		06/20/18		USD	74,871	$	(93	)
CAD	96,438	CBNA		06/20/18		USD	74,983		20
CAD	96,438	CBNA		06/20/18		USD	75,347		384
CAD	96,438	CBNA		06/20/18		USD	76,673		1,709
CAD	96,437	CBNA		06/20/18		USD	76,296		1,333
CAD	96,438	CBNA		06/20/18		USD	76,092		1,128
CAD	96,437	CBNA		06/20/18		USD	76,266		1,303
CAD	96,438	CBNA		06/20/18		USD	76,164		1,201
CAD	96,437	CBNA		06/20/18		USD	75,939		977
CAD	96,438	CBNA		06/20/18		USD	75,523		560
CAD	96,437	CBNA		06/20/18		USD	75,244		281
CAD	96,437	CBNA		06/20/18		USD	74,422		(540	)
CAD	96,437	CBNA		06/20/18		USD	74,585		(377	)
CAD	96,437	CBNA		06/20/18		USD	75,273		311
CAD	96,437	CBNA		06/20/18		USD	75,204		241
CHF	185,438	CBNA		06/20/18		USD	200,485		5,250
CHF	185,438	CBNA		06/20/18		USD	200,392		5,157
CHF	185,438	CBNA		06/20/18		USD	199,963		4,728
CHF	185,438	CBNA		06/20/18		USD	198,697		3,462
CHF	185,438	CBNA		06/20/18		USD	200,083		4,848
CHF	185,438	CBNA		06/20/18		USD	199,355		4,121
CHF	185,438	CBNA		06/20/18		USD	197,745		2,510
CHF	185,438	CBNA		06/20/18		USD	196,831		1,596
CHF	185,437	CBNA		06/20/18		USD	199,604		4,370
CHF	185,437	CBNA		06/20/18		USD	200,018		4,784
CHF	185,437	CBNA		06/20/18		USD	199,698		4,464
CHF	185,437	CBNA		06/20/18		USD	197,763		2,529
CHF	185,437	CBNA		06/20/18		USD	199,572		4,338
CHF	185,437	CBNA		06/20/18		USD	198,880		3,646
CHF	185,437	CBNA		06/20/18		USD	196,821		1,588
CHF	185,437	CBNA		06/20/18		USD	197,401		2,167
CHF	13,000	CBNA		06/20/18		USD	13,806		119
EUR	24,594,384	CBNA		06/20/18		USD	30,597,680		163,512
EUR	24,594,384	CBNA		06/20/18		USD	30,452,469		18,301
EUR	24,594,384	CBNA		06/20/18		USD	30,697,353		263,185
EUR	24,594,384	CBNA		06/20/18		USD	30,677,444		243,276
EUR	24,594,383	CBNA		06/20/18		USD	30,557,398		123,231
EUR	24,594,383	CBNA		06/20/18		USD	30,518,072		83,905
EUR	24,594,383	CBNA		06/20/18		USD	30,557,614		123,447
EUR	24,594,383	CBNA		06/20/18		USD	30,545,863		111,697
EUR	24,594,383	CBNA		06/20/18		USD	30,300,781		(133,386	)
EUR	24,594,383	CBNA		06/20/18		USD	30,216,915		(217,252	)
EUR	24,594,383	CBNA		06/20/18		USD	30,528,647		94,481
EUR	24,594,383	CBNA		06/20/18		USD	30,534,011		99,844
EUR	24,594,382	CBNA		06/20/18		USD	30,785,246		351,081
EUR	24,594,382	CBNA		06/20/18		USD	30,462,036		27,871
EUR	1,735,000	CBNA		06/20/18		USD	2,134,112		(12,853	)
GBP	11,310,888	CBNA		06/20/18		USD	15,719,672		(200,326	)
GBP	11,310,888	CBNA		06/20/18		USD	15,757,365		(162,633	)
GBP	11,310,888	CBNA		06/20/18		USD	15,737,967		(182,031	)
GBP	11,310,887	CBNA		06/20/18		USD	15,893,315		(26,682	)
GBP	11,310,887	CBNA		06/20/18		USD	15,777,113		(142,884	)
GBP	11,310,887	CBNA		06/20/18		USD	15,863,742		(56,254	)
GBP	11,310,887	CBNA		06/20/18		USD	15,772,238		(147,759	)
GBP	11,310,887	CBNA		06/20/18		USD	15,679,941		(240,056	)
GBP	11,310,886	CBNA		06/20/18		USD	15,843,687		(76,308	)
GBP	11,310,886	CBNA		06/20/18		USD	15,897,758		(22,237	)

BHFTI-41

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
GBP	11,310,886	CBNA		06/20/18		USD	15,875,730	$	(44,265	)
GBP	11,310,886	CBNA		06/20/18		USD	15,617,198		(302,797	)
GBP	11,310,886	CBNA		06/20/18		USD	15,709,009		(210,987	)
GBP	11,310,886	CBNA		06/20/18		USD	15,759,455		(160,540	)
GBP	11,310,886	CBNA		06/20/18		USD	15,690,278		(229,717	)
GBP	11,310,886	CBNA		06/20/18		USD	15,775,912		(144,083	)
GBP	1,446,000	CBNA		06/20/18		USD	2,028,840		(6,395	)
HKD	17,020,000	CBNA		06/20/18		USD	2,175,155		1,021
HKD	16,103,000	CBNA		06/20/18		USD	2,064,374		7,377
HKD	16,103,000	CBNA		06/20/18		USD	2,064,400		7,404
HKD	5,997,000	CBNA		06/20/18		USD	766,446		389
HKD	5,686,000	CBNA		06/20/18		USD	728,930		2,601
HKD	5,491,000	CBNA		06/20/18		USD	703,941		2,521
HKD	3,742,000	CBNA		06/20/18		USD	479,620		1,617
HKD	1,934,000	CBNA		06/20/18		USD	247,094		45
HKD	583,000	CBNA		06/20/18		USD	74,774		302
JPY	27,324,375	CBNA		06/20/18		USD	256,676		(1,446	)
JPY	27,324,375	CBNA		06/20/18		USD	257,668		(453	)
JPY	27,324,375	CBNA		06/20/18		USD	258,077		(45	)
JPY	27,324,375	CBNA		06/20/18		USD	257,582		(540	)
JPY	27,324,375	CBNA		06/20/18		USD	257,017		(1,104	)
JPY	27,324,375	CBNA		06/20/18		USD	257,689		(432	)
JPY	27,324,375	CBNA		06/20/18		USD	260,089		1,967
JPY	27,324,375	CBNA		06/20/18		USD	259,164		1,042
Net Unrealized Depreciation								$	(976,115	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Aluminum Futures		04/25/18		192		USD	9,555,600	$	(1,225,670	)
Aluminum Futures		05/04/18		26		USD	1,295,522		(136,700	)
Aluminum Futures		05/09/18		13		USD	648,187		(51,577	)
Aluminum Futures		05/29/18		102		USD	5,096,175		(408,301	)
Aluminum Futures		06/06/18		177		USD	8,852,213		(653,210	)
Aluminum Futures		06/18/18		813		USD	40,716,056		(3,082,292	)
Amsterdam Index Futures		04/20/18		58		EUR	6,124,800		(77,321	)
Australian 10 Year Treasury Bond Futures		06/15/18		1,018		AUD	131,950,004		1,714,199
CAC 40 Index Futures		04/20/18		350		EUR	18,040,750		(308,966	)
Canada Government Bond 10 Year Futures		06/20/18		1,359		CAD	181,113,930		2,678,097
Copper Futures		05/29/18		580		USD	43,869,750		(2,718,170	)
Cotton No. 2 Futures		05/08/18		33		USD	1,344,090		58,920
DAX Index Futures		06/15/18		53		EUR	16,058,338		(358,399	)
Euro Stoxx 50 Index Futures		06/15/18		1,481		EUR	48,591,610		(1,029,827	)
Euro-Bund Futures		06/07/18		5,061		EUR	806,875,230		14,919,001
FTSE 100 Index Futures		06/15/18		711		GBP	49,723,785		(1,137,910	)
FTSE JSE Top 40 Index Futures		06/21/18		346		ZAR	170,872,100		(1,093,773	)
FTSE MIB Index Futures		06/15/18		36		EUR	3,951,540		(82,546	)
Hang Seng Index Futures		04/27/18		1		HKD	1,502,500		(4,651	)
IBEX 35 Index Futures		04/20/18		58		EUR	5,551,354		(94,155	)
Japanese Government 10 Year Bond Futures		06/13/18		274		JPY	41,332,900,000		385,055
KOSPI 200 Index Futures		06/14/18		372		KRW	29,350,800,000		631,909
Lean Hogs Futures		06/14/18		470		USD	14,391,400		(256,766	)

BHFTI-42

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Nickel Futures		04/25/18		4			USD	318,274		$	(8,498	)
Nickel Futures		05/04/18		29			USD	2,308,498			(26,024	)
Nickel Futures		05/09/18		7			USD	557,360			15,119
Nickel Futures		05/29/18		2			USD	159,380			(8,661	)
Nickel Futures		06/06/18		118			USD	9,407,408			(118,667	)
Nickel Futures		06/18/18		364			USD	29,038,464			(1,033,135	)
Russell 2000 Index Mini Futures		06/15/18		820			USD	62,779,200			(2,675,929	)
S&P 500 Index E-Mini Futures		06/15/18		4,954			USD	654,671,100			(32,210,392	)
S&P Midcap 400 Index E-Mini Futures		06/15/18		384			USD	72,311,040			(2,275,983	)
S&P TSX 60 Index Futures		06/14/18		270			CAD	48,924,000			(459,263	)
SGX CNX Nifty Index Futures		04/26/18		730			USD	14,800,020			69,007
SPI 200 Index Futures		06/21/18		244			AUD	34,989,600			(1,072,950	)
Soybean Meal Futures		05/14/18		475			USD	18,240,000			2,003,149
Sugar No. 11 Futures		04/30/18		1,229			USD	16,999,528			(1,706,958	)
TOPIX Index Futures		06/07/18		625			JPY	10,665,625,000			664,728
U.S. Treasury Note 10 Year Futures		06/20/18		9,791			USD	1,186,087,859			11,046,838
United Kingdom Long Gilt Bond Futures		06/27/18		888			GBP	109,064,160			2,447,681
Zinc Futures		04/25/18		19			USD	1,557,644			(76,412	)
Zinc Futures		05/04/18		11			USD	901,450			(62,705	)
Zinc Futures		05/09/18		8			USD	655,600			(19,824	)
Zinc Futures		05/29/18		9			USD	737,550			(57,172	)
Zinc Futures		06/06/18		57			USD	4,671,150			(53,606	)
Zinc Futures		06/18/18		364			USD	29,820,700			(1,903,846	)
Futures Contracts—Short
Aluminum Futures		04/25/18		(192	)		USD	(9,555,600	)		1,230,761
Aluminum Futures		05/04/18		(26	)		USD	(1,295,522	)		137,339
Aluminum Futures		05/09/18		(13	)		USD	(648,187	)		47,383
Aluminum Futures		05/29/18		(102	)		USD	(5,096,175	)		377,090
Aluminum Futures		06/06/18		(177	)		USD	(8,852,213	)		654,678
Aluminum Futures		06/18/18		(279	)		USD	(13,972,669	)		1,049,571
Nickel Futures		04/25/18		(4	)		USD	(318,274	)		10,635
Nickel Futures		05/04/18		(29	)		USD	(2,308,498	)		62,995
Nickel Futures		05/09/18		(7	)		USD	(557,360	)		(14,127	)
Nickel Futures		05/29/18		(2	)		USD	(159,380	)		7,714
Nickel Futures		06/06/18		(118	)		USD	(9,407,408	)		206,348
Nickel Futures		06/18/18		(120	)		USD	(9,573,120	)		127,290
Zinc Futures		04/25/18		(19	)		USD	(1,557,644	)		82,063
Zinc Futures		05/04/18		(11	)		USD	(901,450	)		67,683
Zinc Futures		05/09/18		(8	)		USD	(655,600	)		20,658
Zinc Futures		05/29/18		(9	)		USD	(737,550	)		50,047
Zinc Futures		06/06/18		(57	)		USD	(4,671,150	)		54,599
Zinc Futures		06/18/18		(66	)		USD	(5,407,050	)		108,728
Net Unrealized Depreciation										$	(15,575,101	)

Swap Agreements

OTC Total Return Swaps

Maturity Date	Counterparty	Underlying Reference Instrument	Notional Amount		Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
04/27/18	CBNA	Brent Crude Futures	USD	23,697,180	$	1,889,280	$	—	$	1,889,280
04/27/18	MLI	Brent Crude Futures	USD	24,010,800		1,922,360		—		1,922,360
06/20/18	BOA	Canada Government Bond 10 Year Futures	CAD	22,221,125		337,467		—		337,467

BHFTI-43

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

Maturity Date	Counterparty	Underlying Reference Instrument	Notional Amount		Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
04/13/18	CBNA	Coffee “C” Futures	USD	608,873	$	(32,892	)	$	—	$	(32,892	)
04/13/18	MLI	Coffee “C” Futures	USD	15,855,750		(880,238	)		—		(880,238	)
04/05/18	MLI	Commodity Excess-Return Index (a)	USD	672,087,379		(11,671,658	)		—		(11,671,658	)
04/20/18	CBNA	Corn No. 2 Futures	USD	29,099,486		1,164,402			—		1,164,402
04/20/18	MLI	Corn No. 2 Futures	USD	13,472,000		564,550			—		564,550
04/13/18	CBNA	Crude Oil Futures	USD	6,597,127		326,973			—		326,973
04/19/18	CBNA	Crude Oil Futures	USD	24,009,510		1,382,030			—		1,382,030
04/19/18	MLI	Crude Oil Futures	USD	23,907,490		1,354,170			—		1,354,170
04/13/18	MLI	Crude Oil Futures	USD	1,436,615		70,395			—		70,395
06/07/18	BOA	Euro-Bund Futures	EUR	66,487,186		1,367,195			—		1,367,195
05/31/18	CBNA	Gold 100 oz. Futures	USD	34,298,075		78,995			—		78,995
05/31/18	MLI	Gold 100 oz. Futures	USD	44,069,220		129,870			—		129,870
04/27/18	GSI	Hang Seng China Enterprises Index Futures	HKD	131,147,806		(133,918	)		—		(133,918	)
04/27/18	MLI	Hang Seng China Enterprises Index Futures	HKD	314,055,764		(109,550	)		—		(109,550	)
04/27/18	GSI	Hang Seng Index Futures	HKD	15,166,066		(17,974	)		—		(17,974	)
04/27/18	MLI	Hang Seng Index Futures	HKD	86,048,191		(51,693	)		—		(51,693	)
04/18/18	MLI	Ibovespa Futures	BRL	43,608,731		559,366			—		559,366
06/13/18	BOA	Japanese Government 10 Year Bond Futures	JPY	14,471,001,600		99,604			—		99,604
06/01/18	MLI	Live Cattle Futures	USD	26,870,708		(2,663,008	)		—		(2,663,008	)
06/27/18	BOA	Long Gilt Futures	GBP	67,021,911		1,603,895			—		1,603,895
04/27/18	GSI	MSCI Taiwan Stock Index Futures	USD	2,111,048		(9,728	)		—		(9,728	)
04/27/18	MLI	MSCI Taiwan Stock Index Futures	USD	18,539,403		49,197			—		49,197
04/27/18	CBNA	NY Harbor ULSD Futures	USD	11,038,289		845,191			—		845,191
04/27/18	MLI	NY Harbor ULSD Futures	USD	10,879,600		834,116			—		834,116
04/26/18	CBNA	Natural Gas Futures	USD	42,271,970		(921,680	)		—		(921,680	)
04/26/18	MLI	Natural Gas Futures	USD	11,146,770		(242,100	)		—		(242,100	)
04/27/18	CBNA	RBOB Gasoline Futures	USD	11,800,433		674,752			—		674,752
04/27/18	MLI	RBOB Gasoline Futures	USD	14,052,612		798,799			—		798,799
04/30/18	CBNA	Silver Futures	USD	9,146,103		(280,043	)		—		(280,043	)
04/30/18	MLI	Silver Futures	USD	14,048,370		(383,250	)		—		(383,250	)
04/20/18	CBNA	Soybean Futures	USD	25,704,439		936,686			—		936,686
04/20/18	MLI	Soybean Futures	USD	14,764,025		541,563			—		541,563
04/20/18	CBNA	Soybean Meal Futures	USD	4,829,013		508,587			—		508,587
04/20/18	CBNA	Soybean Oil Futures	USD	9,592,743		(261,207	)		—		(261,207	)
04/20/18	MLI	Soybean Oil Futures	USD	7,693,392		(197,568	)		—		(197,568	)
04/16/18	CBNA	Sugar No. 11 Futures	USD	1,583,114		(186,082	)		—		(186,082	)
04/16/18	MLI	Sugar No. 11 Futures	USD	500,147		(57,523	)		—		(57,523	)
06/15/18	MLI	Swiss Market Index Futures	CHF	30,477,243		(585,443	)		—		(585,443	)
06/20/18	BOA	U.S. Treasury Note 10 Year Futures	USD	914,789,697		9,755,553			—		9,755,553
04/20/18	CBNA	Wheat Futures	USD	7,149,449		(304,237	)		—		(304,237	)
04/20/18	CBNA	Wheat Futures	USD	21,499,278		(550,328	)		—		(550,328	)
04/20/18	MLI	Wheat Futures	USD	2,232,850		(106,863	)		—		(106,863	)
04/20/18	MLI	Wheat Futures	USD	1,315,631		(30,281	)		—		(30,281	)
Totals					$	8,117,732		$	—	$	8,117,732

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

BHFTI-44

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

(a) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Merrill Lynch International, as of March 31, 2018:

Futures Contracts—Long	Notional Value		Component Weighting
Gold 100 oz.	$	79,978,398		11.9	%
Natural Gas		53,094,903		7.9	%
Brent Crude		52,422,816		7.8	%
WTI Crude		51,750,728		7.7	%
Copper Comex		45,029,854		6.7	%
Corn No. 2 Yellow		45,029,854		6.7	%
Soybeans		43,013,592		6.4	%
RBOB Gasoline		28,227,670		4.2	%
LME Primary Aluminum		27,555,583		4.1	%
Live Cattle		24,867,233		3.7	%
Heating Oil		24,195,146		3.6	%
Soybean Meal		24,195,146		3.6	%
Silver		22,850,971		3.4	%
Wheat		22,850,971		3.4	%
Zinc		20,162,621		3.0	%
LME Primary Nickel		19,490,534		2.9	%
Sugar No. 11		19,490,534		2.9	%
Soybean Oil		17,474,272		2.6	%
Coffee “C”		16,130,097		2.4	%
Lean Hogs		14,785,922		2.2	%
Cotton No. 2		10,081,311		1.5	%
KC Hard Red Winter Wheat		9,409,223		1.4	%
	$	672,087,379		100	%

Glossary of Abbreviations

Counterparties

(BOA)—	Bank of America N.A.
(CBNA)—	Citibank N.A.
(GSI)—	Goldman Sachs International
(MLI)—	Merrill Lynch International

Currencies

(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(USD)—	United States Dollar
(ZAR)—	South African Rand

BHFTI-45

Brighthouse Funds Trust I

AQR Global Risk Balanced Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	904,092,403		$	—	$	904,092,403
Total Foreign Government*		—			676,082,649			—		676,082,649
Short-Term Investments
Mutual Funds		1,293,917,702			—			—		1,293,917,702
U.S. Treasury		—			535,764,564			—		535,764,564
Total Short-Term Investments		1,293,917,702			535,764,564			—		1,829,682,266
Total Investments	$	1,293,917,702		$	2,115,939,616		$	—	$	3,409,857,318
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	1,811,746		$	—	$	1,811,746
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(2,787,861	)		—		(2,787,861	)
Total Forward Contracts	$	—		$	(976,115	)	$	—	$	(976,115	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	40,929,285		$	—		$	—	$	40,929,285
Futures Contracts (Unrealized Depreciation)		(56,504,386	)		—			—		(56,504,386	)
Total Futures Contracts	$	(15,575,101	)	$	—		$	—	$	(15,575,101	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	27,794,996		$	—	$	27,794,996
OTC Swap Contracts at Value (Liabilities)		—			(19,677,264	)		—		(19,677,264	)
Total OTC Swap Contracts	$	—		$	8,117,732		$	—	$	8,117,732

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-46

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—56.0% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—56.0%
Consumer Discretionary Select Sector SPDR Fund (a)		887,244	$	89,868,945
Consumer Staples Select Sector SPDR Fund (a)		1,891,052		99,526,067
Energy Select Sector SPDR Fund (a)		1,299,775		87,617,833
Financial Select Sector SPDR Fund (a)		10,253,502		282,689,050
Health Care Select Sector SPDR Fund (a)		2,109,513		171,714,358
Industrial Select Sector SPDR Fund (a)		1,231,272		91,471,197
iShares 1-3 Year Credit Bond ETF (a) (b)		4,618,949		479,446,906
iShares Core MSCI EAFE ETF (a) (b)		2,420,130		159,438,164
iShares Core U.S. Aggregate Bond ETF (a) (b)		3,049,604		327,070,029
iShares iBoxx $ Investment Grade Corporate Bond ETF (a) (b)		3,858,200		452,914,098
iShares Intermediate Credit Bond ETF (b)		1,173,627		125,859,759
iShares MSCI EAFE Fund (b)		3,933,378		274,077,779
iShares MSCI Japan Fund (a) (b)		744,558		45,179,779
iShares U.S. Real Estate ETF (a) (b)		1,972,867		148,892,273
Materials Select Sector SPDR Fund (a)		546,118		31,095,959
Powershares QQQ Trust - Series 1 (a)		2,087,435		334,260,967
Real Estate Select Sector SPDR Fund (a)		2,123,814		66,008,139
Technology Select Sector SPDR Fund (a)		3,448,244		225,584,123
Utilities Select Sector SPDR Fund (a)		1,130,927		57,145,741
Vanguard Short-Term Corporate Bond ETF		1,458,405		114,382,704
Vanguard Total Bond Market ETF		4,769,518		381,227,574
Total Mutual Funds (Cost $3,647,371,182)				4,045,471,444
Short-Term Investments—39.9%
Mutual Fund—2.3%
SSGA USD Liquidity Fund, S2 Shares, 1.781% (c)		161,943,052		161,943,052
Repurchase Agreement—37.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $2,714,353,571; collateralized by U.S. Government Agency Obligations with rates ranging from 0.000% - 2.125%, maturity dates ranging from 04/25/18 - 03/31/24, and an aggregate market value of $2,768,466,757.		2,714,172,626		2,714,172,626
Total Short-Term Investments (Cost $2,876,115,678)				2,876,115,678
Securities Lending Reinvestments (d)—22.1%
Certificates of Deposit—7.1%
Banco Del Estado De Chile New York
1.985%, 1M LIBOR + 0.220%, 05/14/18 (e)		15,000,000		14,998,950
2.028%, 1M LIBOR + 0.220%, 07/17/18 (e)		12,500,000		12,495,213
Barclays Capital, plc
1.956%, 1M LIBOR + 0.270%, 08/03/18 (e)		4,000,000		3,999,704
BNP Paribas New York
1.886%, 1M LIBOR + 0.200%, 05/04/18 (e)		12,000,000		12,000,288
Chiba Bank, Ltd., New York
2.250%, 05/25/18		15,000,000		15,001,607
Certificates of Deposit—(Continued)
China Construction Bank
1.950%, 04/20/18		25,000,000		24,997,400
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (e)		10,000,000		10,000,000
Credit Agricole S.A.
2.032%, 1M LIBOR + 0.330%, 10/09/18 (e)		3,000,000		2,999,577
Credit Suisse AG New York
1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		17,800,000		17,799,252
2.062%, 1M LIBOR + 0.190%, 04/25/18 (e)		25,000,000		24,999,325
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (e)		13,500,000		13,500,000
Mitsubishi UFJ Trust and Banking Corp.
1.886%, 1M LIBOR + 0.200%, 06/07/18 (e)		20,000,000		19,995,640
2.077%, 1M LIBOR + 0.200%, 05/30/18 (e)		21,000,000		20,996,514
Mizuho Bank, Ltd., New York
1.940%, 1M LIBOR + 0.200%, 04/11/18 (e)		17,000,000		17,000,374
2.008%, 1M LIBOR + 0.200%, 04/18/18 (e)		2,500,000		2,499,965
2.077%, 1M LIBOR + 0.200%, 05/29/18 (e)		10,000,000		9,999,160
Norinchukin Bank New York
1.670%, 1M LIBOR + 0.300%, 09/04/18 (e)		11,000,000		10,993,334
1.846%, 1M LIBOR + 0.160%, 04/05/18 (e)		20,000,000		19,999,660
2.061%, 1M LIBOR + 0.200%, 07/23/18 (e)		14,000,000		13,993,308
Royal Bank of Canada New York
1.836%, 04/05/18		15,017,867		14,999,745
1.990%, 1M LIBOR + 0.250%, 01/11/19 (e)		26,250,000		26,199,862
2.222%, 1M LIBOR + 0.400%, 09/17/18 (e)		10,000,000		9,997,740
2.301%, 1M LIBOR + 0.440%, 09/17/18 (e)		15,000,000		14,997,885
Standard Chartered plc
1.864%, 1M LIBOR + 0.200%, 05/01/18 (e)		25,000,000		24,994,600
2.154%, 1M LIBOR + 0.300%, 08/22/18 (e)		8,000,000		7,999,232
2.250%, 08/21/18		10,000,000		9,995,800
Sumitomo Mitsui Banking Corp., London
2.038%, 1M LIBOR + 0.230%, 05/17/18 (e)		9,000,000		8,993,250
Sumitomo Mitsui Banking Corp., New York
1.916%, 1M LIBOR + 0.230%, 09/05/18 (e)		10,000,000		9,995,950
1.920%, 1M LIBOR + 0.180%, 04/11/18 (e)		5,000,000		4,999,820
1.930%, 1M LIBOR + 0.190%, 04/12/18 (e)		10,000,000		9,999,570
2.000%, 05/21/18		5,000,000		5,000,025
2.010%, 1M LIBOR + 0.270%, 09/10/18 (e)		6,000,000		5,998,206
2.062%, 1M LIBOR + 0.190%, 04/26/18 (e)		28,750,000		28,749,770
2.157%, 1M LIBOR + 0.280%, 07/30/18 (e)		5,000,000		4,999,810
Svenska Handelsbanken AB
1.904%, 3M LIBOR + 0.210%, 01/03/19 (e)		4,012,976		4,000,594
Wells Fargo Bank N.A.
1.892%, 3M LIBOR + 0.140%, 10/26/18 (e)		40,000,000		40,015,380
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (e)		10,000,000		9,999,110
				510,205,620
Commercial Paper—5.7%
Alpine, Ltd.
2.240%, 06/07/18		9,944,000		9,958,700
Antalis S.A.
2.150%, 06/05/18		9,945,653		9,961,570
Canadian Imperial Bank of Commerce
2.208%, 1M LIBOR + 0.400%, 09/17/18 (e)		24,000,000		23,997,816

BHFTI-47

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Danske Corp.
2.080%, 06/04/18		29,833,600	$	29,886,510
Industrial & Commercial Bank of China, Ltd.
1.960%, 04/20/18		24,919,694		24,973,100
ING Funding LLC
1.930%, 1M LIBOR + 0.190%, 08/10/18 (e)		14,000,000		13,995,016
La Fayette Asset Securitization LLC
2.170%, 06/08/18		29,828,208		29,877,630
LMA S.A. & LMA Americas
2.150%, 06/01/18		39,782,611		39,849,160
Macquarie Bank, Ltd., London
2.020%, 05/16/18		10,945,067		10,972,159
Manhattan Asset Funding Co. LLC
1.898%, 1M LIBOR + 0.180%, 04/09/18 (e)		6,999,521		6,999,734
2.090%, 05/29/18		25,800,968		25,852,145
National Bank of Canada
1.856%, 1M LIBOR + 0.170%, 07/03/18 (e)		9,500,000		9,497,283
Oversea-Chinese Banking Corp., Ltd.
2.150%, 06/08/18		39,780,222		39,838,320
Ridgefield Funding Co. LLC
1.800%, 04/03/18		9,955,000		9,999,500
2.018%, 1M LIBOR + 0.210%, 05/17/18 (e)		15,000,000		14,997,840
2.040%, 05/21/18		13,928,600		13,959,582
2.200%, 06/07/18		14,915,667		14,937,780
Sheffield Receivables Co.
1.892%, 1M LIBOR + 0.190%, 06/07/18 (e)		12,498,729		12,499,100
2.080%, 05/21/18		34,820,022		34,897,520
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (e)		35,000,000		34,994,960
				411,945,425
Master Demand Notes—0.1%
Natixis Financial Products LLC
1.910%, OBFR + 0.230%, 04/02/18 (e)		8,000,000		8,000,000
Repurchase Agreements—8.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $15,483,167; collateralized by various Common Stock with an aggregate market value of $16,500,001.		15,000,000		15,000,000
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $34,797,188; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $35,486,421.		34,790,423		34,790,423
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $18,245,451; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $18,606,784.		18,241,904		18,241,904
Repurchase Agreements—(Continued)
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $65,013,000; collateralized by Foreign Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 04/01/19 - 05/24/27, and an aggregate market value of $66,300,150.		65,000,000		65,000,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $22,011,457; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $22,447,343.		22,007,056		22,007,056
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $30,027,626; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $33,193,629.		29,885,000		29,885,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $32,648,757; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $36,225,873.		32,615,000		32,615,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $45,554,916; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $49,704,364.		44,750,000		44,750,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $20,217,181; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $20,617,649.		20,213,341		20,213,341
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $5,708,164; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $5,950,908.		5,500,000		5,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $20,119,089; collateralized by various Common Stock with an aggregate market value of $22,007,096.		20,000,000		20,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $31,095,314; collateralized by various Common Stock with an aggregate market value of $34,368,832.		30,900,000		30,900,000

BHFTI-48

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $8,807,688; collateralized by various Common Stock with an aggregate market value of $9,787,887.		8,800,000	$	8,800,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $22,022,978; collateralized by various Common Stock with an aggregate market value of $24,469,718.		22,000,000		22,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $35,006,922; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $35,700,001.		35,000,000		35,000,000
Societe Generale
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $55,970,651; collateralized by various Common Stock with an aggregate market value of $62,145,367.		55,900,000		55,900,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $34,289,445; collateralized by various Common Stock with an aggregate market value of $38,087,662.		34,260,000		34,260,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $47,438,762; collateralized by various Common Stock with an aggregate market value of $52,706,831.		47,410,000		47,410,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $35,008,847; collateralized by various Common Stock with an aggregate market value of $38,910,337.		35,000,000		35,000,000
				577,272,724
Time Deposits—1.2%
ABN AMRO Bank NV
1.680%, 04/02/18		22,000,000		22,000,000
Australia New Zealand Bank
1.670%, 04/02/18		10,000,000		10,000,000
DNB Bank ASA
1.640%, 04/02/18		11,705,000		11,705,000
DZ Bank AG
1.670%, 04/02/18		9,055,000		9,055,000
Nordea Bank New York
1.640%, 04/02/18		18,055,000		18,055,000
Svenska Handelsbanken AB 1.640%, 04/02/18		16,805,000		16,805,000
				87,620,000
Total Securities Lending Reinvestments (Cost $1,595,180,947)				1,595,043,769
Total Investments—118.0% (Cost $8,118,667,807)				8,516,630,891
Other assets and liabilities (net)—(18.0)%				(1,297,997,740	)
Net Assets—100.0%			$	7,218,633,151

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $1,576,761,163 and the collateral received consisted of cash in the amount of $1,594,621,129. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Affiliated Issuer.
(c)	The rate shown represents the annualized seven-day yield as of March 31, 2018.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	122,000,000	JPMC		06/20/18		USD	95,690,212	$	(1,970,788	)
CHF	88,827,000	HSBC		06/20/18		USD	94,337,098		(817,241	)
DKK	171,649,000	JPMC		06/20/18		USD	28,621,398		(126,596	)
EUR	402,124,000	JPMC		06/20/18		USD	499,303,699		(1,697,851	)
GBP	155,756,000	UBSA		06/20/18		USD	217,108,288		2,117,224
HKD	301,422,000	JPMC		06/20/18		USD	38,567,607		(63,978	)
JPY	28,151,516,000	JPMC		06/20/18		USD	264,909,569		1,025,475
SEK	362,000,000	HSBC		06/20/18		USD	44,304,103		(701,521	)
SGD	23,561,000	HSBC		06/20/18		USD	17,943,090		58,963

BHFTI-49

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	94,420,000	JPMC		06/20/18		USD	74,057,949	$	1,525,261
EUR	97,104,000	UBSA		06/20/18		USD	120,568,017		407,274
Net Unrealized Depreciation								$	(243,778	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Amsterdam Index Futures		04/20/18		427			EUR	45,091,200		$	(863,927	)
CAC 40 Index Futures		04/20/18		3,396			EUR	175,046,820			(3,328,136	)
DAX Index Futures		06/15/18		528			EUR	159,977,400			(3,106,635	)
Euro Stoxx 50 Index Futures		06/15/18		4,238			EUR	139,048,780			(3,551,477	)
FTSE 100 Index Futures		06/15/18		2,310			GBP	161,549,850			(4,090,148	)
FTSE MIB Index Futures		06/15/18		220			EUR	24,148,300			(263,022	)
Hang Seng Index Futures		04/27/18		96			HKD	144,240,000			(11,388	)
IBEX 35 Index Futures		04/20/18		285			EUR	27,278,205			(379,544	)
MSCI Singapore Index Futures		04/27/18		909			SGD	35,832,780			490,271
Nikkei 225 Index Futures		06/07/18		2,181			JPY	46,804,260,000			12,923,314
OMX Stockholm 30 Index Futures		04/20/18		2,257			SEK	343,966,800			(672,465	)
Russell 2000 Index Mini Futures		06/15/18		4,084			USD	312,671,040			(9,520,417	)
SPI 200 Index Futures		06/21/18		848			AUD	121,603,200			(4,284,116	)
U.S. Treasury Long Bond Futures		06/20/18		1,895			USD	277,854,375			6,909,042
U.S. Treasury Note 10 Year Futures		06/20/18		1,268			USD	153,606,313			1,662,294
U.S. Treasury Note 2 Year Futures		06/29/18		2,001			USD	425,431,361			240,184
U.S. Treasury Note 5 Year Futures		06/29/18		2,777			USD	317,858,025			1,384,629
Futures Contracts—Short
S&P 500 Index E-Mini Futures		06/15/18		(942	)		USD	(124,485,300	)		4,762,579
U.S. Treasury Ultra Long Bond Futures		06/20/18		(3,292	)		USD	(528,263,125	)		(21,829,034	)
Net Unrealized Depreciation										$	(23,527,996	)

Swap Agreements

OTC Total Return Swaps

Fixed Rate	Payment Frequency	Maturity Date	Counterparty	Underlying Reference Instrument	Notional Amount			Market Value			Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)(1)
1.000%	Annually	04/17/18	UBSA	MSCI Switzerland Net Return Index		CHF	107,318,732	$	(7,424,983	)	$	—	$	(7,424,983	)
1.742%	Quarterly	08/31/18	JPMC	S&P GSCI Commodity Index		USD	290,213,702		6,447,369			—		6,447,369
Totals								$	(977,614	)	$	—	$	(977,614	)

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index		Payment Frequency		Fixed Rate			Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid		Unrealized Depreciation
Pay		3M LIBOR		Quarterly		2.470	%	Semi-Annually		01/08/28		USD	260,000,000	$	(7,697,526	)	$	4,077	$	(7,701,603	)
Pay		3M LIBOR		Quarterly		2.495	%	Semi-Annually		01/10/28		USD	298,000,000		(8,174,355	)		4,672		(8,179,027	)
Pay		3M LIBOR		Quarterly		2.550	%	Semi-Annually		01/16/28		USD	302,000,000		(6,850,816	)		4,735		(6,855,551	)
Pay		3M LIBOR		Quarterly		2.560	%	Semi-Annually		01/11/28		USD	285,573,598		(6,222,803	)		4,478		(6,227,281	)
Pay		3M LIBOR		Quarterly		2.570	%	Semi-Annually		01/12/28		USD	320,000,000		(6,697,693	)		5,017		(6,702,710	)

BHFTI-50

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Centrally Cleared Interest Rate Swaps—(Continued)

Pay/Receive Floating Rate	Floating Rate Index		Payment Frequency		Fixed Rate			Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid		Unrealized Depreciation
Pay		3M LIBOR		Quarterly		2.570	%	Semi-Annually		01/16/28		USD	312,000,000	$	(6,535,373	)	$	4,893	$	(6,540,266	)
Pay		3M LIBOR		Quarterly		2.575	%	Semi-Annually		01/18/28		USD	321,000,000		(6,580,237	)		5,033		(6,585,270	)
Pay		3M LIBOR		Quarterly		2.610	%	Semi-Annually		01/19/28		USD	134,000,000		(2,339,720	)		2,101		(2,341,821	)
Totals														$	(51,098,523	)	$	35,006	$	(51,133,529	)

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties

(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(CHF)—	Swiss Franc
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(JPY)—	Japanese Yen
(SEK)—	Swedish Krona
(SGD)—	Singapore Dollar
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate

Other Abbreviations

(ETF)— Exchange-Traded Fund

BHFTI-51

Brighthouse Funds Trust I

BlackRock Global Tactical Strategies Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	4,045,471,444		$	—		$	—	$	4,045,471,444
Short-Term Investments
Mutual Fund		161,943,052			—			—		161,943,052
Repurchase Agreement		—			2,714,172,626			—		2,714,172,626
Total Short-Term Investments		161,943,052			2,714,172,626			—		2,876,115,678
Total Securities Lending Reinvestments*		—			1,595,043,769			—		1,595,043,769
Total Investments	$	4,207,414,496		$	4,309,216,395		$	—	$	8,516,630,891
Collateral for Securities Loaned (Liability)	$	—		$	(1,594,621,129	)	$	—	$	(1,594,621,129	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	5,134,197		$	—	$	5,134,197
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(5,377,975	)		—		(5,377,975	)
Total Forward Contracts	$	—		$	(243,778	)	$	—	$	(243,778	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	28,372,313		$	—		$	—	$	28,372,313
Futures Contracts (Unrealized Depreciation)		(51,900,309	)		—			—		(51,900,309	)
Total Futures Contracts	$	(23,527,996	)	$	—		$	—	$	(23,527,996	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—		$	(51,133,529	)	$	—	$	(51,133,529	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	6,447,369		$	—	$	6,447,369
OTC Swap Contracts at Value (Liabilities)		—			(7,424,983	)		—		(7,424,983	)
Total OTC Swap Contracts	$	—		$	(977,614	)	$	—	$	(977,614	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-52

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—83.3% of Net Assets

Security Description	Principal Amount*		Value
Advertising—0.4%
Acosta, Inc. 7.750%, 10/01/22 (144A)		490,000	$	308,700
Clear Channel International B.V. 8.750%, 12/15/20 (144A)		1,233,000		1,288,485
MDC Partners, Inc. 6.500%, 05/01/24 (144A)		802,000		779,945
				2,377,130
Aerospace/Defense—1.2%
Arconic, Inc. 5.125%, 10/01/24 (a)		1,968,000		2,002,440
5.900%, 02/01/27		313,000		327,476
5.950%, 02/01/37		130,000		134,550
6.750%, 01/15/28		364,000		404,040
KLX, Inc. 5.875%, 12/01/22 (144A)		1,770,000		1,823,631
Kratos Defense & Security Solutions, Inc. 6.500%, 11/30/25 (144A)		365,000		377,775
Pioneer Holdings LLC / Pioneer Finance Corp. 9.000%, 11/01/22 (144A)		517,000		538,973
TransDigm, Inc. 6.000%, 07/15/22		574,000		585,480
6.375%, 06/15/26		12,000		12,090
6.500%, 07/15/24		1,167,000		1,196,175
6.500%, 05/15/25		422,000		426,220
				7,828,850
Airlines—0.2%
Continental Airlines Pass-Through Trust 6.125%, 04/29/18		900,000		900,000
Virgin Australia Pass-Through Trust 7.125%, 10/23/18 (144A)		402,602		405,138
				1,305,138
Apparel—0.0%
Levi Strauss & Co. 3.375%, 03/15/27 (EUR)		100,000		125,433
Auto Manufacturers—0.5%
Fiat Chrysler Automobiles NV 3.750%, 03/29/24 (EUR)		100,000		134,119
General Motors Financial Co., Inc. 5.750%, 3M LIBOR + 3.598%, 09/30/27 (b)		808,000		793,860
Jaguar Land Rover Automotive plc 2.200%, 01/15/24 (EUR)		100,000		122,437
Navistar International Corp. 6.625%, 11/01/25 (144A)		617,000		617,000
Tesla, Inc. 5.300%, 08/15/25 (144A)		1,062,000		926,595
Volvo Car AB 2.000%, 01/24/25 (EUR)		100,000		122,122
Wabash National Corp. 5.500%, 10/01/25 (144A)		513,000		500,175
				3,216,308
Auto Parts & Equipment—0.4%
Adient Global Holdings, Ltd. 3.500%, 08/15/24 (EUR)		200,000		249,781
Allison Transmission, Inc. 5.000%, 10/01/24 (144A)		36,000		35,685
American Axle & Manufacturing, Inc. 6.250%, 03/15/26		198,000		196,456
Faurecia 3.625%, 06/15/23 (EUR)		100,000		128,717
Gestamp Funding Luxembourg S.A. 3.500%, 05/15/23 (EUR)		100,000		127,518
Grupo-Antolin Irausa S.A. 3.250%, 04/30/24 (EUR)		100,000		126,211
HP Pelzer Holding GmbH 4.125%, 04/01/24 (EUR)		175,000		217,682
IHO Verwaltungs GmbH 2.750%, 3.500% PIK, 09/15/21 (EUR) (c)		100,000		125,260
3.250%, 4.000% PIK, 09/15/23 (EUR) (c)		300,000		379,471
3.750%, 4.500% PIK, 09/15/26 (EUR) (c)		150,000		192,334
4.125%, 4.875% PIK, 09/15/21 (144A) (c)		455,000		445,900
4.500%, 5.250% PIK, 09/15/23 (144A) (c)		200,000		194,000
4.750%, 5.500% PIIK, 09/15/26 (144A) (c)		270,000		260,212
LKQ Italia Bondco S.p.A. 3.875%, 04/01/24 (EUR)		200,000		259,266
				2,938,493
Banks—3.1%
Allied Irish Banks plc 4.125%, 5Y EUR Swap + 3.950%, 11/26/25 (EUR) (b)		225,000		296,591
Alpha Bank AE 2.500%, 02/05/23 (EUR)		150,000		184,345
Banco BPM S.p.A. 2.750%, 07/27/20 (EUR)		400,000		512,812
4.250%, 01/30/19 (EUR)		100,000		126,909
Banco Espirito Santo S.A. 2.625%, 05/08/17 (EUR) (d)		400,000		147,654
4.750%, 01/15/18 (EUR) (d)		1,000,000		359,907
Bank of America Corp. 5.125%, 3M LIBOR + 3.387%, 06/17/19 (b)		690,000		697,935
6.100%, 3M LIBOR + 3.898%, 03/17/25 (b)		734,000		772,535
6.250%, 3M LIBOR + 3.705%, 09/05/24 (b)		1,160,000		1,229,716
6.500%, 3M LIBOR + 4.174%, 10/23/24 (b)		1,027,000		1,104,128
Bank of Ireland 4.250%, 5Y EUR Swap + 3.550%, 06/11/24 (EUR) (b)		320,000		409,596
Bankia S.A. 3.375%, 5Y EUR Swap + 3.350%, 03/15/27 (EUR) (b)		100,000		130,708
4.000%, 5Y EUR Swap + 3.166%, 05/22/24 (EUR) (b)		300,000		382,576
CaixaBank S.A. 3.500%, 5Y EUR Swap + 3.350%, 02/15/27 (EUR) (b)		100,000		132,249
CIT Group, Inc. 5.250%, 03/07/25		393,000		402,361
5.800%, 3M LIBOR + 3.972%, 06/15/22 (b)		569,000		569,000
6.000%, 04/01/36		1,550,000		1,462,812
6.125%, 03/09/28		222,000		230,325
Citigroup, Inc. 5.950%, 3M LIBOR + 4.095%, 08/15/20 (b)		425,000		440,410

BHFTI-53

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Citigroup, Inc. 6.125%, 3M LIBOR + 4.478%, 11/15/20 (b)		375,000	$	394,537
Deutsche Pfandbriefbank AG 4.600%, 02/22/27 (EUR)		100,000		132,945
Goldman Sachs Group, Inc. (The) 5.000%, 3M LIBOR + 2.874%, 11/10/22 (b)		1,765,000		1,716,462
Hongkong & Shanghai Banking Corp., Ltd. (The) 2.000%, 3M LIBOR, 04/27/18 (b)		100,000		90,079
IKB Deutsche Industriebank AG 4.000%, 5Y EUR Swap + 3.617%, 01/31/28 (EUR) (b)		100,000		123,568
Intesa Sanpaolo S.p.A. 6.625%, 09/13/23 (EUR)		400,000		606,725
JPMorgan Chase & Co. 5.000%, 3M LIBOR + 3.320%, 07/01/19 (a) (b)		350,000		353,115
5.300%, 3M LIBOR + 3.800%, 05/01/20 (b)		2,335,000		2,398,045
6.100%, 3M LIBOR + 3.330%, 10/01/24 (b)		1,507,000		1,582,350
6.125%, 3M LIBOR + 3.330%, 04/30/24 (a) (b)		243,000		254,543
Morgan Stanley 5.550%, 3M LIBOR + 3.810%, 07/15/20 (b)		345,000		355,702
National Bank of Greece S.A. 2.750%, 10/19/50 (EUR)		115,000		144,726
National Westminster Bank plc 2.250%, 05/28/18 (b)		100,000		90,500
Royal Bank of Scotland Group plc 8.625%, 5Y USD Swap + 7.598%, 08/15/21 (b)		238,000		258,527
UniCredit S.p.A. 4.375%, 5Y EUR Swap + 4.316%, 01/03/27 (EUR) (b)		200,000		266,282
5.750%, 5Y EUR Swap + 4.100%, 10/28/25 (EUR) (b)		150,000		203,512
6.950%, 10/31/22 (EUR)		200,000		300,718
Wells Fargo & Co. 5.875%, 3M LIBOR + 3.990%, 06/15/25 (b)		1,655,000		1,741,060
5.900%, 3M LIBOR + 3.110%, 06/15/24 (b)		380,000		391,438
				20,997,403
Building Materials—0.7%
American Woodmark Corp. 4.875%, 03/15/26 (144A)		220,000		214,775
BMBG Bond Finance SCA 3.000%, 06/15/21 (EUR)		100,000		124,712
CPG Merger Sub LLC 8.000%, 10/01/21 (144A)		764,000		770,685
Jeld-Wen, Inc. 4.625%, 12/15/25 (144A)		211,000		200,978
4.875%, 12/15/27 (144A)		140,000		132,300
Masonite International Corp. 5.625%, 03/15/23 (144A)		779,000		801,396
Norbord, Inc. 6.250%, 04/15/23 (144A)		540,000		568,350
Ply Gem Industries, Inc. 6.500%, 02/01/22		527,000		543,284
Standard Industries, Inc. 5.375%, 11/15/24 (144A)		112,000		113,400
Titan Global Finance plc 2.375%, 11/16/24 (EUR)		200,000		239,888
3.500%, 06/17/21 (EUR)		100,000		129,585
Building Materials—(Continued)
USG Corp. 4.875%, 06/01/27 (144A)		569,000		574,690
5.500%, 03/01/25 (144A)		239,000		249,158
				4,663,201
Chemicals—3.2%
Alpha 3 B.V. / Alpha U.S. Bidco, Inc. 6.250%, 02/01/25 (144A) (a)		1,675,000		1,695,937
Axalta Coating Systems Dutch Holding B.V. 3.750%, 01/15/25 (EUR)		210,000		270,146
Axalta Coating Systems LLC 4.875%, 08/15/24 (144A)		459,000		460,721
Blue Cube Spinco, Inc. 9.750%, 10/15/23		775,000		888,576
10.000%, 10/15/25		631,000		741,425
CF Industries, Inc. 4.950%, 06/01/43		423,000		369,068
5.150%, 03/15/34		225,000		214,313
7.125%, 05/01/20		141,000		150,518
Chemours Co. (The) 5.375%, 05/15/27 (a)		395,000		395,988
6.625%, 05/15/23 (a)		448,000		470,400
7.000%, 05/15/25 (a)		301,000		325,080
Hexion, Inc. 6.625%, 04/15/20		196,000		182,770
10.375%, 02/01/22 (144A) (a)		448,000		433,440
Huntsman International LLC 4.875%, 11/15/20		722,000		735,537
5.125%, 11/15/22		284,000		293,230
INEOS Finance plc 4.000%, 05/01/23 (EUR)		132,000		165,772
INEOS Group Holdings S.A. 5.375%, 08/01/24 (EUR)		200,000		259,588
Kronos International, Inc. 3.750%, 09/15/25 (EUR)		100,000		126,226
Momentive Performance Materials, Inc. 3.880%, 10/24/21		2,658,000		2,778,407
NOVA Chemicals Corp. 4.875%, 06/01/24 (144A)		641,000		613,758
Olin Corp. 5.125%, 09/15/27		172,000		169,635
Platform Specialty Products Corp. 5.875%, 12/01/25 (144A)		1,445,000		1,412,487
6.500%, 02/01/22 (144A) (a)		4,370,000		4,441,012
PQ Corp. 5.750%, 12/15/25 (144A)		931,000		921,690
6.750%, 11/15/22 (144A)		874,000		918,792
PSPC Escrow Corp. 6.000%, 02/01/23 (EUR)		138,000		176,594
Solvay Finance S.A. 5.118%, 5Y EUR Swap + 4.889%, 06/02/21 (EUR) (b)		200,000		273,524
Tronox Finance plc 5.750%, 10/01/25 (144A)		409,000		397,753
Venator Finance S.a.r.l. / Venator Materials LLC 5.750%, 07/15/25 (144A)		352,000		351,120

BHFTI-54

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Chemicals—(Continued)
Versum Materials, Inc. 5.500%, 09/30/24 (144A)		295,000	$	304,588
WR Grace & Co. 5.125%, 10/01/21 (144A)		844,000		864,045
				21,802,140
Coal—0.2%
CONSOL Energy, Inc. 11.000%, 11/15/25 (144A) (a)		858,000		916,172
SunCoke Energy Partners L.P. / SunCoke Energy Partners Finance Corp. 7.500%, 06/15/25 (144A)		649,000		668,470
				1,584,642
Commercial Services—3.4%
ADT Corp. (The) 3.500%, 07/15/22		465,000		431,869
4.125%, 06/15/23 (a)		346,000		325,240
4.875%, 07/15/32 (144A)		1,079,000		933,335
6.250%, 10/15/21 (a)		463,000		482,677
APX Group, Inc. 6.375%, 12/01/19		148,000		148,925
7.875%, 12/01/22		456,000		474,240
8.750%, 12/01/20		647,000		650,235
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. 5.125%, 06/01/22 (144A)		1,127,000		1,127,056
Avis Budget Finance plc 4.125%, 11/15/24 (EUR)		150,000		189,219
Booz Allen Hamilton, Inc. 5.125%, 05/01/25 (144A)		878,000		856,050
Ceridian HCM Holding, Inc. 11.000%, 03/15/21 (144A)		710,000		734,850
Cognita Financing plc 7.750%, 08/15/21 (GBP)		125,000		180,636
EC Finance plc 2.375%, 11/15/22 (EUR)		100,000		123,230
Elis S.A. 1.875%, 02/15/23 (EUR)		100,000		122,411
Europcar Groupe S.A. 4.125%, 11/15/24 (EUR)		100,000		122,737
Flexi-Van Leasing, Inc. 10.000%, 02/15/23 (144A)		455,000		451,587
Gartner, Inc. 5.125%, 04/01/25 (144A)		418,000		418,000
Herc Rentals, Inc. 7.500%, 06/01/22 (144A)		185,000		197,488
7.750%, 06/01/24 (144A)		365,000		395,112
Hertz Corp. (The) 7.625%, 06/01/22 (144A)		908,000		921,620
Hertz Holdings Netherlands B.V. 5.500%, 03/30/23 (EUR)		177,000		217,790
IHS Markit, Ltd. 4.000%, 03/01/26 (144A)		277,000		265,920
4.750%, 02/15/25 (144A)		548,000		556,220
Commercial Services—(Continued)
Iron Mountain UK plc 3.875%, 11/15/25 (GBP)		110,000		145,999
Jaguar Holding Co. II / Pharmaceutical Product Development LLC 6.375%, 08/01/23 (144A)		2,853,000		2,885,096
KAR Auction Services, Inc. 5.125%, 06/01/25 (144A)		569,000		566,155
La Financiere Atalian SAS 4.000%, 05/15/24 (EUR)		166,000		207,993
Laureate Education, Inc. 8.250%, 05/01/25 (144A)		270,000		289,575
Live Nation Entertainment, Inc. 4.875%, 11/01/24 (144A)		67,000		65,325
5.625%, 03/15/26 (144A) (a)		185,000		187,313
Loxam SAS 3.500%, 05/03/23 (EUR)		224,000		283,198
6.000%, 04/15/25 (EUR)		100,000		132,403
Matthews International Corp. 5.250%, 12/01/25 (144A)		140,000		137,900
Prime Security Services Borrower LLC / Prime Finance, Inc. 9.250%, 05/15/23 (144A)		3,132,000		3,394,086
Ritchie Bros Auctioneers, Inc. 5.375%, 01/15/25 (144A)		377,000		377,000
Service Corp. International 5.375%, 05/15/24		665,000		690,968
ServiceMaster Co. LLC (The) 5.125%, 11/15/24 (144A)		290,000		280,575
Team Health Holdings, Inc. 6.375%, 02/01/25 (144A) (a)		946,000		811,290
United Rentals North America, Inc. 4.625%, 07/15/23		382,000		388,685
4.625%, 10/15/25		888,000		863,580
Verisure Holding AB 6.000%, 11/01/22 (EUR)		112,500		145,813
Verisure Midholding AB 5.750%, 12/01/23 (EUR)		100,000		121,517
WEX, Inc. 4.750%, 02/01/23 (144A)		1,135,000		1,140,334
				23,441,252
Computers—0.6%
Dell International LLC / EMC Corp. 6.020%, 06/15/26 (144A)		635,000		683,845
7.125%, 06/15/24 (144A) (a)		1,453,000		1,553,940
Harland Clarke Holdings Corp. 8.375%, 08/15/22 (144A)		306,000		311,355
Riverbed Technology, Inc. 8.875%, 03/01/23 (144A)		266,000		252,700
Western Digital Corp. 4.750%, 02/15/26		1,508,000		1,504,682
				4,306,522
Cosmetics/Personal Care—0.1%
Coty, Inc. 4.000%, 04/15/23 (EUR)		100,000		123,814
4.750%, 04/15/26 (EUR)		100,000		122,134

BHFTI-55

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Cosmetics/Personal Care—(Continued)
Coty, Inc. 6.500%, 04/15/26 (144A)		229,000	$	230,145
				476,093
Distribution/Wholesale—0.9%
American Tire Distributors, Inc. 10.250%, 03/01/22 (144A)		979,000		999,804
Beacon Roofing Supply, Inc. 6.375%, 10/01/23		28,000		29,400
HD Supply, Inc. 5.750%, 04/15/24 (144A)		4,479,000		4,718,402
Rexel S.A. 2.625%, 06/15/24 (EUR)		125,000		156,814
3.500%, 06/15/23 (EUR)		206,000		264,308
				6,168,728
Diversified Financial Services—3.8%
Aircastle, Ltd. 7.625%, 04/15/20		48,000		51,360
Alliance Data Systems Corp. 5.375%, 08/01/22 (144A)		1,080,000		1,080,000
5.875%, 11/01/21 (144A)		1,383,000		1,410,660
Ally Financial, Inc. 8.000%, 11/01/31		3,184,000		3,884,480
Arrow Global Finance plc 2.875%, 3M EURIBOR + 2.875%, 04/01/25 (EUR) (b)		100,000		119,893
3.750%, 3M EURIBOR + 3.750%, 03/01/26 (EUR) (b)		100,000		121,353
5.125%, 09/15/24 (GBP)		100,000		138,531
Banca IFIS S.p.A. 4.500%, 5Y EUR Swap + 4.251%, 10/17/27 (EUR) (b)		125,000		155,396
Blackstone CQP Holdco L.P. 6.000%, 08/18/21 (144A)		533,000		534,332
6.500%, 03/20/21 (144A)		3,261,000		3,277,305
Cabot Financial Luxembourg S.A. 7.500%, 10/01/23 (GBP)		100,000		146,614
FBM Finance, Inc. 8.250%, 08/15/21 (144A)		300,000		313,500
Garfunkelux Holdco 3 S.A. 4.500%, 3M EURIBOR + 4.500%, 09/01/23 (EUR) (b)		100,000		112,746
Icahn Enterprises L.P. / Icahn Enterprises Finance Corp. 6.000%, 08/01/20		402,000		410,040
6.250%, 02/01/22 (a)		529,000		538,257
6.750%, 02/01/24		645,000		656,287
Icahn Enterprises LP / Icahn Enterprises Finance Corp. 6.375%, 12/15/25		722,000		725,610
Infinity Acquisition LLC / Infinity Acquisition Finance Corp. 7.250%, 08/01/22 (144A)		117,000		116,123
Intrum Justitia AB 2.750%, 07/15/22 (EUR)		200,000		240,559
Jefferies Finance LLC / JFIN Co-Issuer Corp. 6.875%, 04/15/22 (144A)		1,447,000		1,432,530
7.375%, 04/01/20 (144A)		305,000		308,050
Jerrold Finco plc 6.125%, 01/15/24 (GBP)		100,000		136,888
6.250%, 09/15/21 (GBP)		100,000		140,525
Diversified Financial Services—(Continued)
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp. 5.250%, 03/15/22 (144A)		76,000		76,000
5.250%, 10/01/25 (144A)		672,000		636,720
Lehman Brothers Holdings, Inc. Zero Coupon, 02/05/14 (EUR) (d) (i)		4,500,000		221,481
4.750%, 01/16/14 (EUR) (d) (i)		2,140,000		105,326
5.375%, 10/17/12 (EUR) (d) (i)		350,000		17,226
LHC3 plc 4.125%, 4.875% PIK, 08/15/24 (EUR) (c)		202,000		250,069
Lincoln Finance, Ltd. 6.875%, 04/15/21 (EUR)		100,000		127,235
Lions Gate Capital Holdings LLC 5.875%, 11/01/24 (144A)		212,000		220,215
Mercury Bondco plc 7.125%, 7.875% PIK, 05/30/21 (EUR) (c)		100,000		126,845
8.250%, 9.000% PIK., 05/30/21 (EUR) (c)		299,000		383,168
Navient Corp. 5.625%, 08/01/33		500,000		437,500
5.875%, 10/25/24 (a)		323,000		316,540
6.125%, 03/25/24 (a)		111,000		110,584
6.500%, 06/15/22		648,000		669,870
6.625%, 07/26/21		422,000		438,352
6.750%, 06/25/25 (a)		444,000		450,105
7.250%, 09/25/23		436,000		455,620
NFP Corp. 6.875%, 07/15/25 (144A)		193,000		191,553
OneMain Financial Holdings LLC 7.250%, 12/15/21 (144A)		335,000		347,144
Pershing Square Holdings, Ltd. 5.500%, 07/15/22 (144A) (e)		1,000,000		1,020,650
Springleaf Finance Corp. 5.625%, 03/15/23		180,000		176,850
6.875%, 03/15/25 (a)		809,000		812,034
Tempo Acquisition LLC / Tempo Acquisition Finance Corp. 6.750%, 06/01/25 (144A)		1,151,000		1,149,561
Travelport Corporate Finance plc 6.000%, 03/15/26 (144A) (a)		385,000		386,444
Vantiv LLC / Vanity Issuer Corp. 3.875%, 11/15/25 (144A) (GBP)		155,000		214,181
4.375%, 11/15/25 (144A)		404,000		390,365
				25,782,677
Electric—1.7%
AES Corp. 4.500%, 03/15/23 (a)		346,000		352,297
4.875%, 05/15/23 (a)		449,000		456,858
5.125%, 09/01/27 (a)		750,000		763,125
5.500%, 04/15/25		175,000		180,906
6.000%, 05/15/26		602,000		633,605
Calpine Corp. 5.250%, 06/01/26 (144A)		1,717,000		1,656,905
5.875%, 01/15/24 (144A)		744,000		751,291
ContourGlobal Power Holdings S.A. 5.125%, 06/15/21 (EUR)		200,000		251,012

BHFTI-56

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
DPL, Inc. 7.250%, 10/15/21		64,000	$	69,360
Dynegy, Inc. 5.875%, 06/01/23		83,000		85,092
7.375%, 11/01/22		761,000		801,904
8.000%, 01/15/25 (144A)		664,000		722,100
8.125%, 01/30/26 (144A)		397,000		438,189
Enel S.p.A. 5.000%, 5Y EUR Swap + 3.648%, 01/15/75 (EUR) (b)		100,000		132,027
6.625%, 5Y GBP Swap + 4.089%, 09/15/76 (GBP) (b)		100,000		158,539
7.750%, 5Y GBP Swap + 5.662%, 09/10/75 (GBP) (b)		100,000		158,620
Gas Natural Fenosa Finance B.V. 4.125%, 8Y EUR Swap + 3.353%, 11/18/22 (EUR) (b)		200,000		260,998
NextEra Energy Operating Partners L.P. 4.250%, 09/15/24 (144A)		407,000		394,790
NRG Energy, Inc. 5.750%, 01/15/28 (144A)		444,000		434,010
6.625%, 01/15/27		1,819,000		1,859,928
NRG Yield Operating LLC 5.375%, 08/15/24		507,000		508,901
Origin Energy Finance, Ltd. 4.000%, 5Y EUR Swap + 3.670%, 09/16/74 (EUR) (b)		100,000		128,055
Talen Energy Supply LLC 6.500%, 06/01/25		402,000		283,410
				11,481,922
Electrical Components & Equipment—0.0%
Belden, Inc. 4.125%, 10/15/26 (EUR)		100,000		129,105
Senvion Holding GmbH 3.875%, 10/25/22 (EUR)		104,000		114,940
				244,045
Electronics—0.0%
Itron, Inc. 5.000%, 01/15/26 (144A)		55,000		54,191
Energy-Alternate Sources—0.2%
Pattern Energy Group, Inc. 5.875%, 02/01/24 (144A)		533,000		544,993
TerraForm Power Operating LLC 4.250%, 01/31/23 (144A)		413,000		396,996
5.000%, 01/31/28 (144A)		412,000		390,885
				1,332,874
Engineering & Construction—0.5%
Brand Industrial Services, Inc. 8.500%, 07/15/25 (144A)		858,000		893,392
Engility Corp. 8.875%, 09/01/24		502,000		521,929
New Enterprise Stone & Lime Co., Inc. 6.250%, 03/15/26 (144A)		166,000		166,208
10.125%, 04/01/22 (144A)		384,000		411,840
Engineering & Construction—(Continued)
SPIE S.A. 3.125%, 03/22/24 (EUR)		100,000		123,968
Swissport Financing S.a.r.l. 6.750%, 12/15/21 (EUR)		100,000		126,123
Tutor Perini Corp. 6.875%, 05/01/25 (144A)		521,000		536,630
Weekley Homes LLC / Weekley Finance Corp. 6.625%, 08/15/25 (144A)		142,000		140,225
WFS Global Holding SAS 9.500%, 07/15/22 (EUR)		100,000		130,797
				3,051,112
Entertainment—1.0%
Boyne USA, Inc. 7.250%, 05/01/25 (144A)		176,000		180,620
Codere Finance 2 Luxembourg S.A. 6.750%, 11/01/21 (EUR)		100,000		128,698
CPUK Finance, Ltd. 4.250%, 02/28/47 (GBP)		100,000		141,090
4.875%, 02/28/47 (GBP)		100,000		140,685
Eldorado Resorts, Inc. 6.000%, 04/01/25		256,000		259,840
GLP Capital L.P. / GLP Financing II, Inc. 5.375%, 11/01/23 (a)		114,000		118,101
5.375%, 04/15/26		306,000		310,590
International Game Technology plc 4.750%, 02/15/23 (EUR)		150,000		202,106
Jacobs Entertainment, Inc. 7.875%, 02/01/24 (144A)		142,000		150,520
Scientific Games International, Inc.
5.000%, 10/15/25 (144A)		1,031,000		1,002,647
5.500%, 02/15/26 (EUR)		112,000		129,211
10.000%, 12/01/22		2,453,000		2,641,574
Six Flags Entertainment Corp. 4.875%, 07/31/24 (144A)		879,000		855,926
5.500%, 04/15/27 (144A)		51,000		50,490
Vue International Bidco plc 7.875%, 07/15/20 (GBP)		182,000		259,496
Waterford Gaming LLC / Waterford Gaming Financial Corp. 8.625%, 09/15/49 (144A) (d) (f) (g)		294,455		0
WMG Acquisition Corp. 4.125%, 11/01/24 (EUR)		100,000		128,711
5.500%, 04/15/26 (144A)		267,000		268,335
				6,968,640
Environmental Control—0.5%
Advanced Disposal Services, Inc. 5.625%, 11/15/24 (144A)		549,000		554,490
Core & Main L.P. 6.125%, 08/15/25 (144A) (a)		931,000		910,052
Paprec Holding S.A. 4.000%, 03/31/25 (EUR)		100,000		123,525
5.250%, 04/01/22 (EUR)		109,000		137,640
Tervita Escrow Corp. 7.625%, 12/01/21 (144A)		968,000		982,104

BHFTI-57

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Environmental Control—(Continued)
Waste Pro USA, Inc. 5.500%, 02/15/26 (144A)		179,000	$	176,762
Wrangler Buyer Corp. 6.000%, 10/01/25 (144A)		492,000		483,390
				3,367,963
Food—1.0%
Albertsons Cos. LLC / Safeway, Inc. / New Albertson’s, Inc. / Albertson’s LLC 5.750%, 03/15/25		318,000		271,190
6.625%, 06/15/24		253,000		226,751
Casino Guichard Perrachon S.A. 4.498%, 03/07/24 (EUR)		300,000		390,384
4.561%, 01/25/23 (EUR)		200,000		267,691
Chobani LLC / Chobani Finance Corp., Inc. 7.500%, 04/15/25 (144A)		757,000		779,710
JBS USA LUX S.A. / JBS USA Finance, Inc. 5.750%, 06/15/25 (144A)		1,295,000		1,207,588
5.875%, 07/15/24 (144A)		487,000		474,971
6.750%, 02/15/28 (144A)		646,000		620,160
Pilgrim’s Pride Corp. 5.750%, 03/15/25 (144A)		517,000		502,064
5.875%, 09/30/27 (144A)		446,000		420,266
Post Holdings, Inc. 5.000%, 08/15/26 (144A)		1,505,000		1,429,750
5.500%, 03/01/25 (144A)		105,000		103,425
5.750%, 03/01/27 (144A)		141,000		140,295
				6,834,245
Food Service—0.1%
Aramark Services, Inc. 4.750%, 06/01/26		410,000		396,675
5.000%, 04/01/25 (144A)		7,000		7,055
5.000%, 02/01/28 (144A) (a)		532,000		520,695
5.125%, 01/15/24		43,000		43,860
				968,285
Forest Products & Paper—0.1%
Mercer International, Inc. 5.500%, 01/15/26 (144A)		266,000		264,005
6.500%, 02/01/24		272,000		284,920
Sappi Papier Holding GmbH 4.000%, 04/01/23 (EUR)		100,000		127,813
Stora Enso Oyj 2.500%, 06/07/27 (EUR)		100,000		124,297
				801,035
Gas—0.2%
NGL Energy Partners L.P. / NGL Energy Finance Corp. 5.125%, 07/15/19		247,000		246,383
6.875%, 10/15/21		1,299,000		1,295,752
				1,542,135
Healthcare-Products—1.6%
3AB Optique Developpement SAS 4.000%, 10/01/23 (EUR)		100,000		122,385
Avantor, Inc. 4.750%, 10/01/24 (EUR)		147,000		179,549
6.000%, 10/01/24 (144A)		3,591,000		3,573,045
9.000%, 10/01/25 (144A)		918,000		904,230
DJO Finco, Inc. / DJO Finance LLC / DJO Finance Corp. 8.125%, 06/15/21 (144A)		1,801,000		1,805,502
Mallinckrodt International Finance S.A. / Mallinckrodt CB LLC 4.875%, 04/15/20 (144A)		155,000		147,250
5.500%, 04/15/25 (144A) (a)		1,018,000		790,222
5.625%, 10/15/23 (144A) (a)		291,000		232,800
5.750%, 08/01/22 (144A) (a)		154,000		131,670
Ortho-Clinical Diagnostics, Inc. / Ortho-Clinical Diagnostics S.A. 6.625%, 05/15/22 (144A) (a)		2,593,000		2,528,175
Sterigenics-Nordion Holdings LLC 6.500%, 05/15/23 (144A)		241,000		242,808
				10,657,636
Healthcare-Services—4.3%
Acadia Healthcare Co., Inc. 5.125%, 07/01/22		155,000		155,000
5.625%, 02/15/23 (a)		406,000		411,075
6.500%, 03/01/24		159,000		165,360
Air Medical Group Holdings, Inc. 6.375%, 05/15/23 (144A) (a)		195,000		184,763
Centene Corp. 6.125%, 02/15/24		90,000		93,663
Charles River Laboratories International, Inc. 5.500%, 04/01/26 (144A)		281,000		284,864
CHS/Community Health Systems, Inc. 5.125%, 08/01/21 (a)		93,000		86,490
6.250%, 03/31/23		434,000		399,823
8.000%, 11/15/19 (a)		426,000		382,335
DaVita, Inc. 5.000%, 05/01/25		194,000		187,511
5.125%, 07/15/24		455,000		444,194
Eagle Holding Co. II LLC 7.625%, 8.375% PIK, 05/15/22 (144A) (c)		622,000		626,665
Envision Healthcare Corp. 5.125%, 07/01/22 (144A)		163,000		162,185
5.625%, 07/15/22 (a)		929,000		933,180
6.250%, 12/01/24 (144A) (a)		491,000		506,957
HCA, Inc. 4.500%, 02/15/27		624,000		602,160
4.750%, 05/01/23		1,097,000		1,109,341
5.000%, 03/15/24		2,620,000		2,646,200
5.250%, 04/15/25		753,000		769,717
5.250%, 06/15/26		775,000		785,075
5.375%, 02/01/25		1,007,000		1,009,517
5.500%, 06/15/47		2,242,000		2,166,332
5.875%, 03/15/22		1,151,000		1,212,866
5.875%, 05/01/23		520,000		538,200
5.875%, 02/15/26		696,000		708,180

BHFTI-58

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
HealthSouth Corp. 5.750%, 11/01/24		321,000	$	326,618
MEDNAX, Inc. 5.250%, 12/01/23 (144A)		257,000		258,285
Molina Healthcare, Inc. 4.875%, 06/15/25 (144A)		252,000		234,990
MPH Acquisition Holdings LLC 7.125%, 06/01/24 (144A)		1,137,000		1,173,952
Polaris Intermediate Corp. 8.500%, 9.250% PIK, 12/01/22 (144A) (c)		1,861,000		1,898,239
RegionalCare Hospital Partners Holdings, Inc. 8.250%, 05/01/23 (144A)		313,000		325,520
Surgery Center Holdings, Inc. 6.750%, 07/01/25 (144A)		644,000		624,680
Surgery Center Holdings, Inc. 8.875%, 04/15/21 (144A)		329,000		342,983
Synlab Bondco plc 6.250%, 07/01/22 (EUR)		155,000		198,484
Synlab Unsecured Bondco plc 8.250%, 07/01/23 (EUR)		100,000		131,523
Tenet Healthcare Corp. 4.625%, 07/15/24 (144A)		2,157,000		2,073,416
5.125%, 05/01/25 (144A) (a)		235,000		225,894
6.000%, 10/01/20		1,595,000		1,648,831
6.750%, 06/15/23 (a)		919,000		899,471
7.500%, 01/01/22 (144A) (a)		410,000		432,037
8.125%, 04/01/22		1,448,000		1,509,540
Unilabs Subholding AB 5.750%, 05/15/25 (EUR)		100,000		124,024
WellCare Health Plans, Inc. 5.250%, 04/01/25		204,000		204,765
				29,204,905
Holding Companies-Diversified—0.0%
ProGroup AG 5.125%, 05/01/22 (EUR)		131,000		165,315
Home Builders—1.2%
Brookfield Residential Properties, Inc. / Brookfield Residential U.S. Corp. 6.125%, 07/01/22 (144A)		793,000		813,816
K Hovnanian Enterprises, Inc. 10.000%, 07/15/22 (144A)		396,000		420,631
Lennar Corp. 4.125%, 01/15/22		286,000		281,267
4.750%, 04/01/21		42,000		42,735
4.750%, 11/15/22		459,000		461,869
4.750%, 11/29/27 (144A) (a)		820,000		785,150
4.875%, 12/15/23		344,000		345,324
5.250%, 06/01/26 (144A)		881,000		869,987
6.625%, 05/01/20 (144A)		110,000		116,188
Mattamy Group Corp. 6.500%, 10/01/25 (144A)		92,000		92,920
6.875%, 12/15/23 (144A)		387,000		397,642
Home Builders—(Continued)
MDC Holdings, Inc. 6.000%, 01/15/43		456,000		419,520
Meritage Homes Corp. 5.125%, 06/06/27		186,000		175,770
PulteGroup, Inc. 6.000%, 02/15/35		583,000		590,287
6.375%, 05/15/33		548,000		572,660
TRI Pointe Group, Inc. 4.875%, 07/01/21		288,000		289,886
5.250%, 06/01/27		212,000		199,280
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. 4.375%, 06/15/19		355,000		355,888
5.875%, 06/15/24		167,000		169,455
William Lyon Homes, Inc. 5.875%, 01/31/25 (a)		233,000		228,177
6.000%, 09/01/23 (144A)		126,000		125,528
Williams Scotsman International, Inc. 7.875%, 12/15/22 (144A)		248,000		256,525
				8,010,505
Home Furnishings—0.0%
Tempur Sealy International, Inc. 5.500%, 06/15/26		224,000		215,600
Household Products/Wares—0.1%
ACCO Brands Corp. 5.250%, 12/15/24 (144A)		81,000		81,405
Diamond BC B.V. 5.625%, 08/15/25 (EUR)		100,000		117,828
Prestige Brands, Inc. 6.375%, 03/01/24 (144A)		10,000		10,250
Spectrum Brands, Inc. 5.750%, 07/15/25		504,000		514,080
				723,563
Insurance—1.2%
Achmea B.V. 4.250%, 3M EURIBOR + 4.550%, 02/04/25 (EUR) (b)		100,000		129,305
Acrisure LLC / Acrisure Finance, Inc. 7.000%, 11/15/25 (144A)		410,000		393,600
Alliant Holdings Intermediate LLC 8.250%, 08/01/23 (144A)		2,404,000		2,476,120
Ardonagh Midco 3 plc 8.375%, 07/15/23 (GBP)		200,000		287,615
Ardonagh Midco 3 plc 8.625%, 07/15/23 (144A)		1,028,000		1,061,410
Assicurazioni Generali S.p.A. 5.500%, 3M EURIBOR + 5.350%, 10/27/47 (EUR) (b)		100,000		141,348
6.416%, 3M GBP LIBOR + 2.200%, 02/08/22 (GBP) (b)		100,000		149,751
7.750%, 3M EURIBOR + 7.113%, 12/12/42 (EUR) (b)		200,000		308,979
AssuredPartners, Inc. 7.000%, 08/15/25 (144A)		123,000		121,462
BNP Paribas Cardif S.A. 4.032%, 3M EURIBOR + 3.930%, 11/25/25 (EUR) (b)		100,000		133,371

BHFTI-59

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Credit Agricole Assurances S.A. 4.500%, 5Y EUR Swap + 4.350%, 10/14/25 (EUR) (b)		100,000	$	135,503
Groupama S.A. 6.000%, 01/23/27 (EUR)		100,000		148,924
6.375%, 3M EURIBOR + 5.770%, 05/28/24 (EUR) (b)		100,000		143,687
HUB International, Ltd. 7.875%, 10/01/21 (144A)		2,003,000		2,073,105
Radian Group, Inc. 5.250%, 06/15/20		62,000		63,937
7.000%, 03/15/21		41,000		44,331
USIS Merger Sub, Inc. 6.875%, 05/01/25 (144A)		145,000		145,000
				7,957,448
Internet—0.8%
Netflix, Inc. 4.375%, 11/15/26 (a)		443,000		418,635
5.375%, 02/01/21		100,000		103,500
5.500%, 02/15/22		4,000		4,150
Symantec Corp. 5.000%, 04/15/25 (144A)		383,000		386,275
United Group B.V. 4.375%, 07/01/22 (EUR)		126,000		157,726
4.375%, 3M EURIBOR + 4.375%, 07/01/23 (EUR) (b)		132,000		163,018
Zayo Group LLC / Zayo Capital, Inc. 5.750%, 01/15/27 (144A)		2,054,000		2,007,785
6.000%, 04/01/23		1,351,000		1,388,153
6.375%, 05/15/25		452,000		467,820
ZPG plc 3.750%, 07/15/23 (GBP)		100,000		135,899
				5,232,961
Iron/Steel—0.8%
ArcelorMittal 3.125%, 01/14/22 (EUR)		100,000		132,644
Big River Steel LLC / BRS Finance Corp. 7.250%, 09/01/25 (144A)		413,000		428,488
Cleveland-Cliffs, Inc. 4.875%, 01/15/24 (144A)		424,000		411,280
Ovako AB 5.000%, 10/05/22 (EUR)		100,000		126,389
Signode Industrial Group Lux S.A. / Signode Industrial Group U.S., Inc. 6.375%, 05/01/22 (144A) (a)		969,000		996,859
Steel Dynamics, Inc. 4.125%, 09/15/25		450,000		428,625
5.000%, 12/15/26		120,000		120,000
5.125%, 10/01/21		480,000		487,776
5.250%, 04/15/23		619,000		626,737
5.500%, 10/01/24		140,000		144,368
thyssenkrupp AG 1.375%, 03/03/22 (EUR)		225,000		277,912
United States Steel Corp. 6.250%, 03/15/26		720,000		718,200
Iron/Steel—(Continued)
United States Steel Corp. 6.875%, 08/15/25		597,000		613,418
				5,512,696
Leisure Time—0.4%
Cirsa Funding Luxembourg S.A. 5.875%, 05/15/23 (EUR)		200,000		252,946
Pinnacle Bidco plc 6.375%, 02/15/25 (GBP)		100,000		140,643
Sabre GLBL, Inc. 5.250%, 11/15/23 (144A)		321,000		324,306
5.375%, 04/15/23 (144A)		536,000		540,690
Viking Cruises, Ltd. 5.875%, 09/15/27 (144A)		1,213,000		1,149,318
6.250%, 05/15/25 (144A)		299,000		299,000
				2,706,903
Lodging—1.0%
CRC Escrow Issuer LLC / CRC Finco, Inc. 5.250%, 10/15/25 (144A)		796,000		763,109
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp. 4.625%, 04/01/25		158,000		157,803
MGM Resorts International 5.250%, 03/31/20		627,000		642,744
6.625%, 12/15/21		1,714,000		1,839,876
6.750%, 10/01/20		890,000		945,625
7.750%, 03/15/22		389,000		432,762
Station Casinos LLC 5.000%, 10/01/25 (144A)		203,000		192,850
Wyndham Hotels & Resorts, Inc. 5.375%, 04/15/26 (144A)		402,000		405,015
Wyndham Worldwide Corp. 4.150%, 04/01/24		248,000		247,358
4.500%, 04/01/27		107,000		106,284
5.100%, 10/01/25		60,000		62,044
Wynn Macau, Ltd. 4.875%, 10/01/24 (144A)		200,000		195,000
5.500%, 10/01/27 (144A)		600,000		588,000
				6,578,470
Machinery-Construction & Mining—0.8%
BlueLine Rental Finance Corp. / BlueLine Rental LLC 9.250%, 03/15/24 (144A)		2,547,000		2,730,842
Orano SA 4.875%, 09/23/24 (EUR)		200,000		269,469
Terex Corp. 5.625%, 02/01/25 (144A)		849,000		850,061
Vertiv Group Corp. 9.250%, 10/15/24 (144A)		1,366,000		1,427,470
				5,277,842
Machinery-Diversified—0.4%
Cleaver-Brooks, Inc. 7.875%, 03/01/23 (144A)		103,000		106,991

BHFTI-60

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Machinery-Diversified—(Continued)
CNH Industrial Finance Europe S.A. 1.750%, 09/12/25 (EUR)		125,000	$	155,212
Platin 1426 GmbH 5.375%, 06/15/23 (EUR)		135,000		163,769
RBS Global, Inc. / Rexnord LLC 4.875%, 12/15/25 (144A)		490,000		475,300
SPX FLOW, Inc. 5.625%, 08/15/24 (144A)		225,000		228,937
5.875%, 08/15/26 (144A)		121,000		124,328
Titan Acquisition, Ltd. / Titan Co-Borrower LLC 7.750%, 04/15/26 (144A)		1,276,000		1,272,012
				2,526,549
Media—8.1%
Altice Financing S.A. 6.625%, 02/15/23 (144A) (a)		600,000		594,000
7.500%, 05/15/26 (144A) (a)		1,142,000		1,119,160
Altice Luxembourg S.A. 6.250%, 02/15/25 (EUR)		110,000		125,374
7.250%, 05/15/22 (EUR)		484,000		577,672
7.750%, 05/15/22 (144A) (a)		2,690,000		2,498,311
Altice U.S. Finance I Corp. 5.375%, 07/15/23 (144A)		2,146,000		2,173,898
5.500%, 05/15/26 (144A)		299,000		292,243
AMC Networks, Inc. 4.750%, 08/01/25 (a)		634,000		610,941
5.000%, 04/01/24 (a)		210,000		207,516
Cablevision Systems Corp. 8.000%, 04/15/20		1,109,000		1,169,302
CBS Radio, Inc. 7.250%, 11/01/24 (144A) (a)		186,000		189,488
CCO Holdings LLC / CCO Holdings Capital Corp. 4.000%, 03/01/23 (144A) (a)		591,000		567,360
5.000%, 02/01/28 (144A) (a)		1,325,000		1,242,187
5.125%, 05/01/27 (144A)		4,750,000		4,509,650
Cequel Communications Holdings I LLC / Cequel Capital Corp. 5.125%, 12/15/21 (144A)		2,343,000		2,338,131
6.375%, 09/15/20 (144A)		179,000		182,138
7.500%, 04/01/28 (144A)		1,067,000		1,091,007
7.750%, 07/15/25 (144A)		1,918,000		2,028,285
Clear Channel Worldwide Holdings, Inc. 6.500%, 11/15/22		4,362,000		4,445,755
7.625%, 03/15/20		2,654,000		2,650,682
CSC Holdings LLC 5.250%, 06/01/24 (a)		803,000		763,854
10.125%, 01/15/23 (144A)		1,581,000		1,754,910
10.875%, 10/15/25 (144A)		3,576,000		4,201,764
DISH DBS Corp. 5.000%, 03/15/23 (a)		1,456,000		1,308,580
5.875%, 07/15/22		515,000		492,469
5.875%, 11/15/24		497,000		442,951
7.750%, 07/01/26 (a)		2,040,000		1,913,010
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance 7.875%, 05/15/24 (144A) (a)		233,000		222,753
Media—(Continued)
Meredith Corp. 6.875%, 02/01/26 (144A)		352,000		361,240
Midcontinent Communications / Midcontinent Finance Corp. 6.875%, 08/15/23 (144A)		568,000		597,110
NBCUniversal Enterprise, Inc. 5.250%, 03/19/12 (144A)		255,000		264,563
Radiate Holdco LLC / Radiate Finance, Inc. 6.625%, 02/15/25 (144A) (a)		493,000		453,560
6.875%, 02/15/23 (144A)		136,000		131,580
SFR Group S.A. 5.375%, 05/15/22 (EUR)		245,000		306,681
6.000%, 05/15/22 (144A)		1,713,000		1,674,423
7.375%, 05/01/26 (144A)		3,166,000		3,015,615
Sirius XM Radio, Inc. 5.000%, 08/01/27 (144A)		290,000		272,600
TEGNA, Inc. 5.500%, 09/15/24 (144A)		158,000		161,160
Telenet Finance Luxembourg Notes S.a.r.l. 5.500%, 03/01/28 (144A)		800,000		765,000
Telenet Finance VI Luxembourg SCA 4.875%, 07/15/27 (EUR)		142,200		188,751
Townsquare Media, Inc. 6.500%, 04/01/23 (144A) (a)		525,000		493,500
Tribune Media Co. 5.875%, 07/15/22		26,000		26,358
Unitymedia GmbH 3.750%, 01/15/27 (EUR)		200,000		258,439
Unitymedia Hessen GmbH & Co. KG / Unitymedia NRW GmbH 3.500%, 01/15/27 (EUR)		100,000		128,890
5.625%, 04/15/23 (EUR)		72,800		92,166
Univision Communications, Inc. 5.125%, 02/15/25 (144A) (a)		843,000		786,097
UPCB Finance IV, Ltd. 5.375%, 01/15/25 (144A)		250,000		241,250
UPCB Finance VII, Ltd. 3.625%, 06/15/29 (EUR)		100,000		119,286
UPCB Finance, Ltd. 4.000%, 01/15/27 (EUR)		100,000		126,564
Urban One, Inc. 7.375%, 04/15/22 (144A)		220,000		217,800
Videotron, Ltd. 5.125%, 04/15/27 (144A)		618,000		605,640
Virgin Media Finance plc 5.750%, 01/15/25 (144A)		1,435,000		1,374,012
Virgin Media Receivables Financing Notes I DAC 5.500%, 09/15/24 (GBP)		359,000		493,575
Virgin Media Receivables Financing Notes II DAC 5.750%, 04/15/23 (GBP)		100,000		140,609
Virgin Media Secured Finance plc 4.875%, 01/15/27 (GBP)		100,000		138,083
5.500%, 01/15/25 (GBP)		450,000		645,556
6.250%, 03/28/29 (GBP)		100,000		148,188
Ziggo Bond Co. B.V. 7.125%, 05/15/24 (EUR)		150,000		199,271
Ziggo Bond Finance B.V. 5.875%, 01/15/25 (144A)		1,005,000		949,725

BHFTI-61

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Ziggo Secured Finance B.V. 4.250%, 01/15/27 (EUR)		100,000	$	123,990
5.500%, 01/15/27 (144A)		341,000		320,441
				55,535,114
Metal Fabricate/Hardware—0.7%
Grinding Media, Inc. / Moly-Cop AltaSteel, Ltd. 7.375%, 12/15/23 (144A) (a)		527,000		553,350
Novelis Corp. 5.875%, 09/30/26 (144A)		2,152,000		2,108,960
6.250%, 08/15/24 (144A)		2,316,000		2,373,900
				5,036,210
Mining—3.0%
Constellium NV 4.250%, 02/15/26 (EUR)		100,000		124,485
5.750%, 05/15/24 (144A)		428,000		419,440
5.875%, 02/15/26 (144A) (a)		1,210,000		1,191,850
6.625%, 03/01/25 (144A)		395,000		399,938
First Quantum Minerals, Ltd. 7.000%, 02/15/21 (144A)		1,256,000		1,259,925
7.250%, 05/15/22 (144A)		431,000		431,000
Freeport-McMoRan, Inc. 3.100%, 03/15/20		2,417,000		2,389,930
3.550%, 03/01/22		2,155,000		2,084,962
3.875%, 03/15/23		2,280,000		2,203,392
4.000%, 11/14/21		591,000		588,045
5.400%, 11/14/34 (a)		344,000		326,900
5.450%, 03/15/43		2,479,000		2,279,936
Joseph T Ryerson & Son, Inc. 11.000%, 05/15/22 (144A)		440,000		485,100
Kaiser Aluminum Corp. 5.875%, 05/15/24		286,000		296,010
Nyrstar Netherlands Holdings B.V. 6.875%, 03/15/24 (EUR)		180,000		226,061
Teck Resources, Ltd. 3.750%, 02/01/23		1,146,000		1,101,535
4.500%, 01/15/21		167,000		168,044
5.200%, 03/01/42		680,000		635,800
5.400%, 02/01/43		886,000		843,915
8.500%, 06/01/24 (144A)		2,547,000		2,830,226
				20,286,494
Miscellaneous Manufacturing—1.4%
Bombardier, Inc. 6.000%, 10/15/22 (144A) (a)		27,000		26,764
6.125%, 01/15/23 (144A) (a)		1,750,000		1,745,607
7.450%, 05/01/34 (144A) (a)		316,000		317,580
7.500%, 12/01/24 (144A)		1,456,000		1,506,960
7.500%, 03/15/25 (144A)		2,416,000		2,479,420
7.750%, 03/15/20 (144A)		392,000		417,970
8.750%, 12/01/21 (144A) (a)		883,000		967,989
Colfax Corp. 3.250%, 05/15/25 (EUR)		234,000		290,750
Miscellaneous Manufacturing—(Continued)
EnPro Industries, Inc. 5.875%, 09/15/22		266,000		274,977
Gates Global LLC / Gates Global Co. 6.000%, 07/15/22 (144A)		779,000		791,659
Koppers, Inc. 6.000%, 02/15/25 (144A)		548,000		559,892
				9,379,568
Office/Business Equipment—0.2%
CDW LLC / CDW Finance Corp. 5.000%, 09/01/25		257,000		255,715
5.500%, 12/01/24		1,205,000		1,256,574
				1,512,289
Oil & Gas—8.1%
Aker BP ASA 5.875%, 03/31/25 (144A)		505,000		511,312
Alta Mesa Holdings L.P. / Alta Mesa Finance Services Corp. 7.875%, 12/15/24		281,000		292,591
Antero Resources Corp. 5.125%, 12/01/22		234,000		235,755
5.625%, 06/01/23 (a)		120,000		122,400
Ascent Resources Utica Holdings LLC / ARU Finance Corp. 10.000%, 04/01/22 (144A) (a)		451,000		487,080
California Resources Corp. 8.000%, 12/15/22 (144A) (a)		628,000		492,980
Callon Petroleum Co. 6.125%, 10/01/24		534,000		546,175
Calumet Specialty Products Partners L.P. / Calumet Finance Corp. 6.500%, 04/15/21 (a)		56,000		54,320
7.625%, 01/15/22		292,000		289,080
Carrizo Oil & Gas, Inc. 6.250%, 04/15/23 (a)		455,000		455,000
8.250%, 07/15/25 (a)		709,000		742,677
Chesapeake Energy Corp. 8.000%, 01/15/25 (144A) (a)		215,000		208,013
8.000%, 06/15/27 (144A) (a)		1,922,000		1,835,510
CNX Resources Corp. 5.875%, 04/15/22		3,899,000		3,923,369
Continental Resources, Inc. 3.800%, 06/01/24		267,000		256,988
4.375%, 01/15/28 (144A)		872,000		850,200
4.900%, 06/01/44		228,000		218,310
Covey Park Energy LLC / Covey Park Finance Corp. 7.500%, 05/15/25 (144A)		925,000		915,750
CrownRock LP / CrownRock Finance, Inc. 5.625%, 10/15/25 (144A)		1,580,000		1,564,200
DEA Finance S.A. 7.500%, 10/15/22 (EUR)		100,000		134,624
Denbury Resources, Inc. 9.250%, 03/31/22 (144A)		1,066,000		1,085,987
Diamond Offshore Drilling, Inc. 7.875%, 08/15/25		218,000		218,545
Diamondback Energy, Inc. 5.375%, 05/31/25		626,000		635,703

BHFTI-62

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Eclipse Resources Corp. 8.875%, 07/15/23		165,000	$	155,719
Endeavor Energy Resources L.P. / EER Finance, Inc. 5.500%, 01/30/26 (144A)		176,000		175,120
5.750%, 01/30/28 (144A)		384,000		382,560
Ensco plc 5.200%, 03/15/25		95,000		76,475
7.750%, 02/01/26 (a)		757,000		694,547
EP Energy LLC / Everest Acquisition Finance, Inc. 8.000%, 11/29/24 (144A)		893,000		897,465
9.375%, 05/01/20		18,000		16,740
9.375%, 05/01/24 (144A)		1,254,000		891,907
Extraction Oil & Gas, Inc. 5.625%, 02/01/26 (144A)		625,000		590,625
7.375%, 05/15/24 (144A)		438,000		457,710
Great Western Petroleum LLC / Great Western Finance Corp. 9.000%, 09/30/21 (144A)		956,000		979,900
Gulfport Energy Corp. 6.000%, 10/15/24		60,000		56,925
6.375%, 05/15/25		106,000		101,495
6.375%, 01/15/26		214,000		203,300
6.625%, 05/01/23		536,000		541,360
Halcon Resources Corp. 6.750%, 02/15/25		1,071,000		1,052,257
6.750%, 02/15/25 (144A)		329,000		321,186
Hess Infrastructure Partners L.P. / Hess Infrastructure Partners Finance Corp. 5.625%, 02/15/26 (144A)		778,000		764,385
Indigo Natural Resources LLC 6.875%, 02/15/26 (144A)		413,000		389,253
Jones Energy Holdings LLC / Jones Energy Finance Corp. 9.250%, 03/15/23 (144A)		65,000		61,913
Matador Resources Co. 6.875%, 04/15/23		1,285,000		1,336,400
MEG Energy Corp. 6.375%, 01/30/23 (144A) (a)		763,000		637,105
6.500%, 01/15/25 (144A)		1,199,000		1,163,030
7.000%, 03/31/24 (144A)		298,000		245,850
Murphy Oil Corp. 4.450%, 12/01/22 (a)		220,000		212,850
5.750%, 08/15/25		49,000		48,265
5.875%, 12/01/42 (a)		114,000		104,310
Nabors Industries, Inc. 4.625%, 09/15/21 (a)		137,000		132,239
5.750%, 02/01/25 (144A)		350,000		330,313
Newfield Exploration Co. 5.375%, 01/01/26		265,000		273,613
5.625%, 07/01/24 (a)		390,000		411,450
Noble Holding International, Ltd. 7.750%, 01/15/24 (a)		503,000		466,532
7.875%, 02/01/26 (144A)		1,692,000		1,666,620
7.950%, 04/01/25		89,000		78,765
Oasis Petroleum, Inc. 6.500%, 11/01/21		311,000		315,665
6.875%, 03/15/22		420,000		425,981
6.875%, 01/15/23		49,000		49,613
Oil & Gas—(Continued)
Parker Drilling Co. 7.500%, 08/01/20 (a)		289,000		263,713
Parkland Fuel Corp. 6.000%, 04/01/26 (144A)		224,000		225,120
Parsley Energy LLC / Parsley Finance Corp. 5.250%, 08/15/25 (144A)		186,000		184,373
5.375%, 01/15/25 (144A)		767,000		765,082
5.625%, 10/15/27 (144A)		2,000		2,000
6.250%, 06/01/24 (144A)		180,000		186,525
PBF Holding Co. LLC / PBF Finance Corp. 7.250%, 06/15/25		503,000		522,491
PDC Energy, Inc. 5.750%, 05/15/26 (144A)		202,000		198,465
6.125%, 09/15/24		76,000		77,520
Petroleos Mexicanos 5.375%, 03/13/22		94,000		97,713
Precision Drilling Corp. 5.250%, 11/15/24 (a)		108,000		101,250
6.500%, 12/15/21		92,000		92,690
7.125%, 01/15/26 (144A) (a)		530,000		524,700
7.750%, 12/15/23		205,000		212,944
QEP Resources, Inc. 5.375%, 10/01/22		530,000		529,337
5.625%, 03/01/26 (a)		206,000		194,670
Range Resources Corp. 4.875%, 05/15/25 (a)		473,000		438,707
5.000%, 08/15/22		217,000		209,948
5.000%, 03/15/23 (a)		127,000		121,768
5.875%, 07/01/22		701,000		704,505
Repsol International Finance B.V. 3.875%, 6Y EUR Swap + 3.560%, 03/25/21 (EUR) (b)		100,000		131,721
4.500%, 10Y EUR Swap + 4.200%, 03/25/75 (EUR) (b)		100,000		134,556
Resolute Energy Corp. 8.500%, 05/01/20		945,000		942,637
Rowan Cos., Inc. 4.750%, 01/15/24		228,000		189,810
4.875%, 06/01/22		170,000		154,275
7.375%, 06/15/25		821,000		769,687
RSP Permian, Inc. 5.250%, 01/15/25 (a)		225,000		232,594
6.625%, 10/01/22		764,000		798,372
Sanchez Energy Corp. 6.125%, 01/15/23		674,000		491,599
7.250%, 02/15/23 (144A) (a)		346,000		347,730
7.750%, 06/15/21 (a)		1,684,000		1,549,280
Seven Generations Energy, Ltd. 5.375%, 09/30/25 (144A)		579,000		552,945
6.875%, 06/30/23 (144A)		425,000		440,937
SM Energy Co. 5.000%, 01/15/24		372,000		345,030
5.625%, 06/01/25 (a)		546,000		517,335
6.500%, 11/15/21		355,000		357,219
6.500%, 01/01/23		122,000		121,085
6.750%, 09/15/26		98,000		97,020
Southwestern Energy Co. 6.700%, 01/23/25		178,000		172,749

BHFTI-63

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Southwestern Energy Co. 7.500%, 04/01/26 (a)		768,000	$	775,680
7.750%, 10/01/27 (a)		287,000		292,023
Sunoco LP / Sunoco Finance Corp. 4.875%, 01/15/23 (144A)		951,000		916,526
5.875%, 03/15/28 (144A)		282,000		272,483
Transocean, Inc. 5.800%, 10/15/22 (a)		509,000		488,640
6.800%, 03/15/38		155,000		120,900
7.500%, 01/15/26 (144A)		568,000		559,480
9.000%, 07/15/23 (144A)		1,931,000		2,054,101
Trinidad Drilling, Ltd. 6.625%, 02/15/25 (144A)		759,000		707,767
Tullow Oil plc 7.000%, 03/01/25 (144A)		200,000		200,000
Whiting Petroleum Corp. 6.625%, 01/15/26 (144A)		574,000		578,305
WildHorse Resource Development Corp. 6.875%, 02/01/25		316,000		316,790
WPX Energy, Inc. 5.250%, 09/15/24 (a)		378,000		372,330
6.000%, 01/15/22		524,000		538,410
7.500%, 08/01/20		121,000		129,470
8.250%, 08/01/23		78,000		87,360
				55,196,379
Oil & Gas Services—0.7%
CSI Compressco LP / CSI Compressco Finance, Inc. 7.500%, 04/01/25 (144A)		734,000		741,340
Oceaneering International, Inc. 6.000%, 02/01/28 (a)		199,000		196,774
Pioneer Energy Services Corp. 6.125%, 03/15/22		477,000		413,798
SESI LLC 7.125%, 12/15/21 (a)		205,000		208,844
7.750%, 09/15/24 (144A)		488,000		505,080
USA Compression Partners LP / USA Compression Finance Corp. 6.875%, 04/01/26 (144A)		620,000		629,300
Weatherford International, Ltd. 5.950%, 04/15/42 (a)		566,000		382,050
6.500%, 08/01/36		212,000		150,520
7.000%, 03/15/38		75,000		54,000
7.750%, 06/15/21		646,000		602,395
8.250%, 06/15/23		210,000		183,114
9.875%, 02/15/24 (a)		1,109,000		1,011,962
				5,079,177
Packaging & Containers—2.4%
ARD Finance S.A. 6.625%, 7.375% PIK, 09/15/23 (EUR) (c)		150,000		194,693
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 4.125%, 05/15/23 (EUR)		125,000		160,702
4.625%, 05/15/23 (144A)		1,153,000		1,157,324
4.750%, 07/15/27 (GBP)		100,000		136,428
4.750%, 07/15/27 (144A) (GBP)		151,000		206,006
6.000%, 06/30/21 (144A) (a)		1,239,000		1,263,780
Packaging & Containers—(Continued)
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. 6.000%, 02/15/25 (144A) (a)		1,513,000		1,520,565
6.750%, 05/15/24 (EUR)		250,000		333,375
7.250%, 05/15/24 (144A) (a)		1,822,000		1,938,152
Ball Corp. 4.000%, 11/15/23		148,000		144,300
4.375%, 12/15/23 (EUR)		109,000		151,556
BWAY Holding Co. 5.500%, 04/15/24 (144A)		1,491,000		1,500,319
7.250%, 04/15/25 (144A)		901,000		919,020
Crown Americas LLC / Crown Americas Capital Corp. 4.750%, 02/01/26 (144A)		88,000		85,140
Crown Americas LLC / Crown Americas Capital Corp. IV 4.500%, 01/15/23		445,000		441,663
Crown European Holdings S.A. 3.375%, 05/15/25 (EUR)		128,000		162,652
Horizon Holdings I SAS 7.250%, 08/01/23 (EUR)		100,000		129,043
JH-Holding Finance S.A. 8.250%, 12/01/22 (EUR) (c)		125,000		161,668
OI European Group B.V. 3.125%, 11/15/24 (EUR)		100,000		124,880
4.000%, 03/15/23 (144A)		505,000		481,013
Reynolds Group Issuer, Inc. / Reynolds Group Issuer LLC 5.125%, 07/15/23 (144A)		799,000		806,750
5.222%, 3M LIBOR + 3.500%, 07/15/21 (144A) (b)		10,000		10,125
5.750%, 10/15/20		1,326,708		1,343,292
6.875%, 02/15/21		50,248		50,939
7.000%, 07/15/24 (144A)		1,880,000		1,968,125
Sealed Air Corp. 4.500%, 09/15/23 (EUR)		203,000		280,042
4.875%, 12/01/22 (144A)		294,000		296,940
Silgan Holdings, Inc. 3.250%, 03/15/25 (EUR)		100,000		125,025
Verallia Packaging SASU 5.125%, 08/01/22 (EUR)		275,000		349,936
				16,443,453
Pharmaceuticals—2.4%
Catalent Pharma Solutions, Inc. 4.875%, 01/15/26 (144A)		744,000		725,400
Endo Dac / Endo Finance LLC / Endo Finco, Inc. 6.000%, 07/15/23 (144A)		640,000		483,200
Endo Finance LLC / Endo Finco, Inc. 7.250%, 01/15/22 (144A)		255,000		221,213
Grifols S.A. 3.200%, 05/01/25 (EUR)		196,000		242,743
inVentiv Group Holdings, Inc. / inVentiv Health, Inc. / inVentiv Health Clinical, Inc. 7.500%, 10/01/24 (144A)		439,000		466,438
Nidda BondCo GmbH 5.000%, 09/30/25 (EUR)		100,000		121,213
Nidda Healthcare Holding GmbH 3.500%, 09/30/24 (EUR)		100,000		122,647
NVA Holdings, Inc. 6.875%, 04/01/26 (144A)		596,000		600,470

BHFTI-64

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Teva Pharmaceutical Finance Netherlands II B.V. 1.250%, 03/31/23 (EUR)		200,000	$	222,589
Teva Pharmaceutical Finance Netherlands III B.V. 1.700%, 07/19/19		964,000		932,166
Valeant Pharmaceuticals International, Inc. 4.500%, 05/15/23 (EUR)		485,000		528,020
5.500%, 03/01/23 (144A)		2,566,000		2,245,250
5.500%, 11/01/25 (144A)		1,313,000		1,278,205
5.625%, 12/01/21 (144A)		919,000		877,645
5.875%, 05/15/23 (144A)		2,456,000		2,167,395
6.125%, 04/15/25 (144A)		500,000		431,500
6.500%, 03/15/22 (144A)		766,000		790,895
6.750%, 08/15/21 (144A)		659,000		660,647
7.000%, 03/15/24 (144A)		1,144,000		1,192,620
7.250%, 07/15/22 (144A)		43,000		43,000
7.500%, 07/15/21 (144A)		797,000		799,989
9.250%, 04/01/26 (144A) (a)		213,000		212,191
Vizient, Inc. 10.375%, 03/01/24 (144A)		739,000		818,442
				16,183,878
Pipelines—2.7%
Andeavor Logistics L.P. 6.875%, 3M LIBOR + 4.652%, 02/15/23 (b)		744,000		747,441
Antero Midstream Partners L.P. / Antero Midstream Finance Corp. 5.375%, 09/15/24		140,000		141,050
Cheniere Corpus Christi Holdings LLC 5.125%, 06/30/27		1,146,000		1,137,405
5.875%, 03/31/25		1,046,000		1,094,378
7.000%, 06/30/24 (a)		930,000		1,028,813
Cheniere Energy Partners L.P. 5.250%, 10/01/25 (144A)		769,000		758,426
Crestwood Midstream Partners L.P. / Crestwood Midstream Finance Corp. 6.250%, 04/01/23		85,000		85,638
DCP Midstream Operating L.P. 6.450%, 11/03/36 (144A)		557,000		598,775
6.750%, 09/15/37 (144A)		581,000		639,100
Energy Transfer Equity L.P. 4.250%, 03/15/23		756,000		733,320
5.500%, 06/01/27 (a)		244,000		244,610
5.875%, 01/15/24		382,000		394,415
7.500%, 10/15/20		897,000		965,957
Genesis Energy L.P. / Genesis Energy Finance Corp. 6.250%, 05/15/26		364,000		346,710
6.500%, 10/01/25 (a)		227,000		222,460
Kinder Morgan, Inc. 6.700%, 02/15/27		62,930		63,364
NGPL PipeCo LLC 7.768%, 12/15/37 (144A)		1,244,000		1,505,240
Rockies Express Pipeline LLC 5.625%, 04/15/20 (144A)		365,000		377,779
6.000%, 01/15/19 (144A)		298,000		303,215
6.850%, 07/15/18 (144A)		92,000		92,699
6.875%, 04/15/40 (144A)		1,201,000		1,385,209
Pipelines—(Continued)
Tallgrass Energy Partners L.P. / Tallgrass Energy Finance Corp. 5.500%, 09/15/24 (144A)		610,000		620,675
5.500%, 01/15/28 (144A) (a)		892,000		899,805
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. 5.125%, 02/01/25 (a)		322,000		320,390
5.250%, 05/01/23		38,000		38,285
5.375%, 02/01/27		193,000		192,276
Targa Resources Partners LP / Targa Resources Partners Finance Corp. 5.000%, 01/15/28 (144A) (a)		831,000		792,566
Williams Cos., Inc. (The) 4.550%, 06/24/24		156,000		157,087
5.750%, 06/24/44		2,125,000		2,247,188
8.750%, 03/15/32		197,000		261,025
				18,395,301
Real Estate—0.4%
ADLER Real Estate AG 2.125%, 02/06/24 (EUR)		125,000		152,324
4.750%, 04/08/20 (EUR)		100,000		127,719
Akelius Residential Property AB 3.875%, 5Y EUR Swap + 3.488%, 10/05/78 (EUR) (b)		100,000		123,168
ATF Netherlands B.V. 3.750%, 5Y EUR Swap + 4.375%, 01/20/23 (EUR) (b)		200,000		254,519
Five Point Operating Co. L.P. / Five Point Capital Corp. 7.875%, 11/15/25 (144A)		328,000		330,870
Greystar Real Estate Partners LLC 5.750%, 12/01/25 (144A)		402,000		400,995
Howard Hughes Corp. (The) 5.375%, 03/15/25 (144A)		459,000		453,263
Realogy Group LLC / Realogy Co-Issuer Corp. 4.500%, 04/15/19 (144A)		174,000		174,870
4.875%, 06/01/23 (144A)		254,000		243,205
5.250%, 12/01/21 (144A) (a)		354,000		355,876
RESIDOMO Sro 3.375%, 10/15/24 (EUR)		107,000		131,869
Summit Germany, Ltd. 2.000%, 01/31/25 (EUR)		100,000		119,416
Tropicana Entertainment LLC / Tropicana Finance Corp. 9.625%, 12/15/14 (d) (f) (g)		70,000		0
				2,868,094
Real Estate Investment Trusts—2.1%
CoreCivic, Inc. 4.750%, 10/15/27		386,000		362,840
CyrusOne LP / CyrusOne Finance Corp. 5.000%, 03/15/24		1,194,000		1,195,492
5.375%, 03/15/27		113,000		112,718
Equinix, Inc. 2.875%, 03/15/24 (EUR)		158,000		192,691
2.875%, 10/01/25 (EUR)		199,000		235,432
5.875%, 01/15/26		975,000		1,016,437
ESH Hospitality, Inc. 5.250%, 05/01/25 (144A)		364,000		354,099

BHFTI-65

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Real Estate Investment Trusts—(Continued)
GEO Group, Inc. (The) 5.125%, 04/01/23		459,000	$	453,263
5.875%, 10/15/24		882,000		873,180
6.000%, 04/15/26		60,000		58,650
Iron Mountain, Inc. 3.000%, 01/15/25 (EUR)		110,000		134,050
iStar, Inc. 4.625%, 09/15/20		78,000		78,098
5.250%, 09/15/22		352,000		340,560
6.000%, 04/01/22		312,000		312,780
MGM Growth Properties Operating Partnership L.P. / MGP Finance Co-Issuer, Inc. 4.500%, 09/01/26		1,280,000		1,222,400
5.625%, 05/01/24		2,893,000		2,979,790
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc. 4.500%, 01/15/28		875,000		820,575
SBA Communications Corp. 4.000%, 10/01/22 (144A) (a)		925,000		885,687
4.875%, 09/01/24		363,000		355,740
Starwood Property Trust, Inc. 4.750%, 03/15/25 (144A)		220,000		214,500
5.000%, 12/15/21		611,000		623,220
Uniti Group L.P. / Uniti Group Finance, Inc. / CSL Capital LLC 8.250%, 10/15/23 (a)		1,000,000		945,000
VICI Properties 1 LLC / VICI FC, Inc. 8.000%, 10/15/23		515,114		570,489
				14,337,691
Retail—1.9%
1011778 BC ULC / New Red Finance, Inc. 4.250%, 05/15/24 (144A) (a)		668,000		638,942
5.000%, 10/15/25 (144A)		3,799,000		3,617,408
Asbury Automotive Group, Inc. 6.000%, 12/15/24		776,000		789,580
B&M European Value Retail S.A. 4.125%, 02/01/22 (GBP)		100,000		144,158
Beacon Escrow Corp. 4.875%, 11/01/25 (144A)		940,000		895,350
Burger King France SAS 6.000%, 05/01/24 (EUR)		119,000		154,477
Golden Nugget, Inc. 6.750%, 10/15/24 (144A)		913,000		917,556
Group 1 Automotive, Inc. 5.250%, 12/15/23 (144A)		101,000		101,000
IRB Holding Corp. 6.750%, 02/15/26 (144A)		432,000		423,403
J.C. Penney Corp., Inc. 6.375%, 10/15/36		140,000		86,800
7.400%, 04/01/37		91,000		60,970
8.125%, 10/01/19		21,000		22,286
KFC Holding Co. / Pizza Hut Holdings LLC / Taco Bell of America LLC 5.250%, 06/01/26 (144A)		211,000		210,209
Retail—(Continued)
L Brands, Inc. 6.750%, 07/01/36		153,000		146,880
6.875%, 11/01/35		936,000		907,920
Masaria Investments S.A.U. 5.000%, 09/15/24 (EUR)		104,000		128,127
Neiman Marcus Group, Ltd. LLC 8.000%, 10/15/21 (144A)		520,000		328,900
Newco GB SAS 8.000%, 8.750% PIK, 12/15/22 (EUR) (c)		100,000		122,891
Penske Automotive Group, Inc. 5.500%, 05/15/26		231,000		226,958
5.750%, 10/01/22		517,000		529,925
PetSmart, Inc. 5.875%, 06/01/25 (144A)		316,000		228,310
PVH Corp. 3.125%, 12/15/27 (EUR)		220,000		266,965
Rite Aid Corp. 6.125%, 04/01/23 (144A)		549,000		553,117
Shop Direct Funding plc 7.750%, 11/15/22 (GBP)		180,000		217,867
Staples, Inc. 8.500%, 09/15/25 (144A)		416,000		384,800
Stonegate Pub Co. Financing plc 4.875%, 03/15/22 (GBP)		175,000		242,304
Unique Pub Finance Co. plc (The) 5.659%, 06/30/27 (GBP)		152,677		237,369
6.464%, 03/30/32 (GBP)		300,000		409,846
Yum! Brands, Inc. 3.875%, 11/01/23 (a)		111,000		106,560
				13,100,878
Semiconductors—0.6%
Advanced Micro Devices, Inc. 7.000%, 07/01/24		149,000		156,450
7.500%, 08/15/22 (a)		187,000		203,830
Entegris, Inc. 4.625%, 02/10/26 (144A)		434,000		423,198
Micron Technology, Inc. 5.500%, 02/01/25		21,000		21,787
Microsemi Corp. 9.125%, 04/15/23 (144A)		49,000		54,574
NXP B.V. / NXP Funding LLC 4.125%, 06/15/20 (144A)		537,000		545,055
4.125%, 06/01/21 (144A)		1,149,000		1,160,490
4.625%, 06/15/22 (144A)		220,000		224,950
4.625%, 06/01/23 (144A)		510,000		519,078
Sensata Technologies B.V. 5.000%, 10/01/25 (144A)		600,000		591,000
				3,900,412
Software—4.3%
Ascend Learning LLC 6.875%, 08/01/25 (144A)		685,000		703,838
BMC Software Finance, Inc. 8.125%, 07/15/21 (144A)		1,017,000		1,015,729

BHFTI-66

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Software—(Continued)
CDK Global, Inc. 4.875%, 06/01/27 (144A)		684,000	$	658,350
Change Healthcare Holdings LLC / Change Healthcare Finance, Inc. 5.750%, 03/01/25 (144A)		532,000		527,505
First Data Corp. 5.750%, 01/15/24 (144A)		4,650,000		4,679,062
7.000%, 12/01/23 (144A)		2,354,000		2,470,994
Genesys Telecommunications Laboratories, Inc. / Greeneden Lux 3 S.a.r.l. / Greeneden U.S. Holdings II LLC 10.000%, 11/30/24 (144A)		1,383,000		1,535,130
Infor Software Parent LLC / Infor Software Parent, Inc. 7.125%, 7.875% PIK, 05/01/21 (144A) (c)		752,000		759,813
Infor U.S., Inc. 6.500%, 05/15/22		4,311,000		4,386,442
Informatica LLC 7.125%, 07/15/23 (144A)		1,874,000		1,869,315
Nuance Communications, Inc. 5.375%, 08/15/20 (144A)		169,000		170,082
5.625%, 12/15/26		150,000		147,375
6.000%, 07/01/24		425,000		435,625
PTC, Inc. 6.000%, 05/15/24		474,000		496,515
Quintiles IMS, Inc. 3.250%, 03/15/25 (144A) (EUR)		150,000		184,892
3.250%, 03/15/25 (EUR)		100,000		123,261
Rackspace Hosting, Inc. 8.625%, 11/15/24 (144A)		394,000		389,075
RP Crown Parent LLC 7.375%, 10/15/24 (144A)		1,026,000		1,061,910
Solera LLC / Solera Finance, Inc. 10.500%, 03/01/24 (144A)		3,207,000		3,567,787
Sophia L.P. / Sophia Finance, Inc. 9.000%, 09/30/23 (144A)		664,000		697,200
TIBCO Software, Inc. 11.375%, 12/01/21 (144A)		1,841,000		2,004,389
Veritas U.S., Inc. / Veritas Bermuda, Ltd. 7.500%, 02/01/23 (144A)		826,000		828,065
10.500%, 02/01/24 (144A) (a)		943,000		881,705
				29,594,059
Storage/Warehousing—0.4%
Algeco Scotsman Global Finance 2 plc 10.000%, 08/15/23 (144A) (a)		200,000		199,000
Algeco Scotsman Global Finance plc 8.000%, 02/15/23 (144A)		986,000		983,535
Mobile Mini, Inc. 5.875%, 07/01/24		1,525,000		1,570,750
				2,753,285
Telecommunications—6.8%
Anixter, Inc. 5.625%, 05/01/19		135,000		137,869
CB Escrow Corp. 8.000%, 10/15/25 (144A)		316,000		294,275
Telecommunications—(Continued)
Cellnex Telecom S.A. 2.375%, 01/16/24 (EUR)		100,000		125,131
CenturyLink, Inc. 5.625%, 04/01/25 (a)		225,000		203,063
6.450%, 06/15/21		1,373,000		1,400,460
6.750%, 12/01/23 (a)		586,000		569,885
7.500%, 04/01/24		495,000		498,713
7.600%, 09/15/39		91,000		78,405
7.650%, 03/15/42		794,000		672,915
Cincinnati Bell, Inc. 7.000%, 07/15/24 (144A)		960,000		859,200
CommScope Technologies LLC 5.000%, 03/15/27 (144A)		403,000		382,850
6.000%, 06/15/25 (144A)		2,000		2,081
CommScope, Inc. 5.500%, 06/15/24 (144A)		372,000		379,905
Digicel Group, Ltd. 7.125%, 04/01/22 (144A) (a)		347,000		270,660
8.250%, 09/30/20 (144A)		366,000		314,760
Digicel, Ltd. 6.000%, 04/15/21 (144A)		2,053,000		1,927,254
eircom Finance DAC 4.500%, 05/31/22 (EUR)		100,000		125,912
Embarq Corp. 7.995%, 06/01/36		144,000		135,720
Frontier Communications Corp. 6.875%, 01/15/25 (a)		1,039,000		614,309
7.125%, 03/15/19 (a)		694,000		693,132
7.125%, 01/15/23		460,000		310,357
8.500%, 04/01/26 (144A) (a)		750,000		725,625
10.500%, 09/15/22		195,000		163,084
11.000%, 09/15/25 (a)		1,853,000		1,388,592
GTT Communications, Inc. 7.875%, 12/31/24 (144A)		465,000		466,163
Hughes Satellite Systems Corp. 5.250%, 08/01/26		862,000		844,760
7.625%, 06/15/21		231,000		247,902
Intelsat Jackson Holdings S.A. 5.500%, 08/01/23		1,054,000		848,470
7.250%, 10/15/20		658,000		608,650
9.750%, 07/15/25 (144A)		1,172,000		1,094,355
Koninklijke KPN NV 6.125%, 5Y EUR Swap + 5.202%, 09/14/18 (EUR) (b)		150,000		189,191
6.875%, 5Y GBP Swap + 5.505%, 03/14/73 (GBP) (b)		100,000		151,524
Level 3 Financing, Inc. 5.125%, 05/01/23		636,000		624,075
5.250%, 03/15/26		3,099,000		2,920,807
5.375%, 01/15/24		323,000		314,725
5.375%, 05/01/25		235,000		227,950
5.625%, 02/01/23		273,000		273,259
Matterhorn Telecom S.A. 3.875%, 05/01/22 (EUR)		175,000		216,825
4.000%, 11/15/27 (EUR)		100,000		118,308
Nokia Oyj 3.375%, 06/12/22 (a)		251,000		241,914
6.625%, 05/15/39 (a)		1,043,000		1,113,402

BHFTI-67

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
OTE plc 3.500%, 07/09/20 (EUR)		100,000	$	129,202
Qualitytech LP/QTS Finance Corp. 4.750%, 11/15/25 (144A)		328,000		308,320
SoftBank Group Corp. 4.750%, 09/19/24		300,000		290,226
4.750%, 07/30/25 (EUR)		232,000		296,917
6.875%, 5Y USD ICE Swap + 4.854%, 07/19/27 (b)		675,000		641,479
Sprint Capital Corp. 6.900%, 05/01/19		580,000		597,400
8.750%, 03/15/32		2,173,000		2,270,785
Sprint Communications, Inc. 7.000%, 03/01/20 (144A)		2,016,000		2,116,800
Sprint Corp. 7.125%, 06/15/24		3,234,000		3,153,150
7.625%, 02/15/25		1,487,000		1,460,977
7.625%, 03/01/26		1,101,000		1,074,246
7.875%, 09/15/23 (a)		2,138,000		2,180,760
T-Mobile USA, Inc. 4.000%, 04/15/22 (a)		472,000		469,640
4.500%, 02/01/26		1,228,000		1,178,880
4.750%, 02/01/28 (a)		1,255,000		1,206,369
6.000%, 03/01/23		295,000		306,800
6.375%, 03/01/25		234,000		244,530
Telecom Italia Capital S.A. 6.000%, 09/30/34		1,791,000		1,857,625
6.375%, 11/15/33		588,000		637,980
7.200%, 07/18/36		60,000		70,350
7.721%, 06/04/38		30,000		36,681
Telecom Italia Finance S.A. 7.750%, 01/24/33 (EUR)		90,000		165,004
Telecom Italia S.p.A. 3.625%, 01/19/24 (EUR)		100,000		135,357
5.875%, 05/19/23 (GBP)		100,000		159,644
Telecom Italia SpA/Milano 3.000%, 09/30/25 (EUR)		200,000		259,209
Telefonaktiebolaget LM Ericsson 1.875%, 03/01/24 (EUR)		110,000		130,972
Telefonica Europe B.V. 2.625%, 5Y EUR Swap + 2.327%, 06/07/23 (EUR) (b)		100,000		120,270
3.750%, 5Y EUR Swap + 3.858%, 03/15/22 (EUR) (b)		100,000		128,113
4.200%, 5Y EUR Swap + 3.806%, 12/04/19 (EUR) (b)		400,000		517,390
5.000%, 6Y EUR Swap + 3.804%, 03/31/20 (EUR) (b)		400,000		528,454
Telesat Canada / Telesat LLC 8.875%, 11/15/24 (144A)		563,000		617,893
Wind Tre S.p.A. 2.625%, 01/20/23 (EUR)		120,000		133,065
3.125%, 01/20/25 (EUR)		110,000		119,277
				46,320,202
Textiles—0.0%
Springs Industries, Inc. 6.250%, 06/01/21 (a)		133,000		134,829
Toys/Games/Hobbies—0.1%
Mattel, Inc. 5.450%, 11/01/41		90,000		73,377
6.200%, 10/01/40		153,000		130,050
6.750%, 12/31/25 (144A)		696,000		680,340
				883,767
Transportation—0.2%
CMA CGM S.A. 5.250%, 01/15/25 (EUR)		100,000		110,501
Watco Cos. LLC / Watco Finance Corp. 6.375%, 04/01/23 (144A)		617,000		632,425
XPO Logistics, Inc. 6.500%, 06/15/22 (144A)		822,000		847,687
				1,590,613
Trucking & Leasing—0.2%
Park Aerospace Holdings, Ltd. 3.625%, 03/15/21 (144A)		525,000		498,750
5.250%, 08/15/22 (144A)		601,000		588,800
				1,087,550
Total Corporate Bonds & Notes (Cost $571,196,950)				568,050,093
Floating Rate Loans (h)—10.7%
Aerospace/Defense—0.3%
Accudyne Industries LLC Term Loan, 5.127%, 1M LIBOR + 3.250%, 08/18/24		1,147,235		1,154,495
Sequa Mezzanine Holdings LLC 1st Lien Term Loan, 7.071%, 3M LIBOR + 5.000%, 11/28/21		404,940		408,736
2nd Lien Term Loan, 10.752%, 3M LIBOR + 9.000%, 04/28/22		142,000		144,840
				1,708,071
Air Freight & Logistics—0.1%
Ceva Logistics Canada ULC Term Loan, 7.272%, 3M LIBOR + 5.500%, 03/19/21		52,646		52,120
Ceva Logistics U.S. Holdings, Inc. Term Loan, 7.272%, 3M LIBOR + 5.500%, 03/19/21		504,476		499,431
				551,551
Airlines—0.0%
Northwest Airlines, Inc. Term Loan, 3.301%, 6M LIBOR + 1.230%, 09/10/18 (f) (g) (i)		45,833		45,481
Term Loan, 3.301%, 6M LIBOR + 1.230%, 09/10/18 (f) (g) (i)		45,417		45,067
Term Loan, 3.301%, 6M LIBOR + 1.230%, 09/10/18 (f) (g) (i)		45,167		44,620
				135,168

BHFTI-68

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (h)—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—0.0%
Direct ChassisLink Inc. 2nd Lien Term Loan, 7.877%, 1M LIBOR + 6.000%, 06/15/23		104,000	$	105,950
Auto Parts & Equipment—0.0%
Belron Finance U.S. LLC Term Loan B, 4.293%, 3M LIBOR + 2.500%, 11/07/24		276,308		278,380
Building Materials—0.3%
Ply Gem Industries, Inc. Term Loan, 03/28/25 (j)		1,744,000		1,748,360
Chemicals—0.6%
Ascend Performance Materials Operations LLC Term Loan B, 7.127%, 1M LIBOR + 5.250%, 08/12/22		2,863,879		2,881,778
GrafTech Finance, Inc. Term Loan B, 5.395%, 1M LIBOR + 3.500%, 02/12/25		207,000		207,258
Invictus 1st Lien Term Loan, 01/24/25 (j)		236,824		239,007
2nd Lien Term Loan, 01/23/26 (j)		130,000		132,329
WR Grace & Co. Term Loan B1, 04/03/25 (j)		202,915		203,972
Term Loan B2, 04/03/25 (j)		347,854		349,666
				4,014,010
Coal—0.0%
CONSOL Energy, Inc. 1st Lien Term Loan B, 7.990%, 3M LIBOR + 6.000%, 10/26/22		60,848		62,559
Commercial Services—0.2%
Albany Molecular Research, Inc. 1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 08/30/24		191,636		192,355
Element Materials Technology Group U.S. Holdings, Inc. Term Loan B, 5.802%, 3M LIBOR + 3.500%, 06/28/24		121,695		122,532
Laureate Education, Inc. Term Loan B, 5.377%, 1M LIBOR + 3.500%, 04/26/24		491,030		493,868
Mavis Tire Express Services Corp. 1st Lien Term Loan, 03/20/25 (j)		246,289		246,597
Delayed Draw Term Loan, 03/20/25 (j)		39,428		39,478
PSAV Holdings LLC 1st Lien Term Loan, 5.202%, 3M LIBOR + 3.250%, 02/21/25		286,000		286,536
2nd Lien Term Loan, 9.256%, 3M LIBOR + 7.250%, 08/22/25		232,000		233,740
				1,615,106
Computers—0.1%
Access CIG, LLC 1st Lien Term Loan, 5.625%, 3M LIBOR + 3.750%, 02/27/25		130,926		132,590
2nd Lien Delayed Draw Term loan, 0.500%, 02/27/26 (k)		8,366		8,450
2nd Lien Term Loan, 9.625%, 3M LIBOR + 7.750%, 02/27/26		44,967		45,417
Delayed Draw Term Loan, 0.500%, 02/27/25 (k)		27,410		27,758
Tempo Acquisition LLC Term Loan, 4.877%, 1M LIBOR + 3.000%, 05/01/24		297,411		299,084
				513,299
Cosmetics/Personal Care—0.2%
Coty, Inc. Term Loan B, 03/26/25 (j)		1,397,000		1,393,507
Distribution/Wholesale—0.0%
Beacon Roofing Supply, Inc. Term Loan B, 4.128%, 1M LIBOR + 2.250%, 01/02/25		298,000		299,821
Electric—0.0%
Pike Corp. Term Loan B, 03/14/25 (j)		302,000		305,020
Electrical Components & Equipment—0.1%
Cortes NP Acquisition Corp. Term Loan B, 5.887%, 1M LIBOR + 4.000%, 11/30/23		480,457		484,349
Electronics—0.0%
Generac Power Systems, Inc. 1st Lien Term Loan B, 4.308%, 3M LIBOR + 2.000%, 05/31/23		135,000		135,464
Energy-Alternate Sources—0.0%
ExGen Renewables IV LLC Term Loan B, 4.990%, 3M LIBOR + 3.000%, 11/28/24		176,558		178,985
Entertainment—0.2%
GVC Holdings PLC EUR Term Loan, 03/15/24 (EUR) (j)		1,000,000		1,229,571
Food—0.3%
CH Guenther & Son, Inc. Term Loan B, 03/31/25 (j)		242,000		243,626
Chobani LLC Term Loan B, 5.377%, 1M LIBOR + 3.500%, 10/10/23		142,562		143,542
Froneri International Plc EUR Term Loan B, 01/22/25 (EUR) (j)		1,000,000		1,234,199
JBS USA LLC Term Loan B, 4.678%, 3M LIBOR + 2.500%, 10/30/22		344,131		343,529
Sigma Bidco B.V. USD Term Loan B, 02/23/25 (j)		307,000		307,256
				2,272,152
Healthcare-Products—0.5%
DJO Finance LLC Term Loan, 5.440%, 3M LIBOR + 3.250%, 06/08/20		1,664,555		1,674,785
Immucor, Inc. Term Loan B, 7.302%, 3M LIBOR + 5.000%, 06/15/21		1,653,470		1,697,563
				3,372,348
Healthcare-Services—0.2%
HCA Inc. Term Loan B10, 3.877%, 03/07/25 (j)		325,000		327,776
Ortho-Clinical Diagnostics S.A. Term Loan B, 5.627%, 1M LIBOR + 3.750%, 06/30/21		84,845		85,649
Quorum Health Corp. Term Loan B, 8.627%, 1M LIBOR + 6.750%, 04/29/22		311,860		319,104

BHFTI-69

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (h)—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
Team Health Holdings, Inc. 1st Lien Term Loan, 4.627%, 1M LIBOR + 2.750%, 02/06/24		847,183	$	813,296
				1,545,825
Hotels, Restaurants & Leisure—0.1%
GVC Holdings plc Term Loan, 03/15/24 (j)		327,000		327,511
Insurance—0.2%
AssuredPartners, Inc. 1st Lien Add-On Term Loan, 10/22/24 (j)		114,652		114,652
Asurion LLC 2nd Lien Term Loan, 7.877%, 1M LIBOR + 6.000%, 08/04/25		171,000		176,023
Genworth Financial, Inc. Term Loan, 6.831%, 1M LIBOR + 4.500%, 02/22/23		279,000		283,883
Sedgwick Claims Management Services, Inc. 1st Lien Term Loan, 03/01/21 (j)		346,256		346,430
2nd Lien Term Loan, 02/28/22 (j)		309,000		310,931
USI, Inc. Term Loan, 5.302%, 3M LIBOR + 3.000%, 05/16/24		204,970		205,841
				1,437,760
Internet—0.2%
Ascend Learning LLC Term Loan B, 4.877%, 1M LIBOR + 3.000%, 07/12/24		143,280		143,892
Uber Technologies Term Loan, 04/04/25 (j)		997,000		1,004,477
				1,148,369
IT Services—0.1%
McAfee LLC Term Loan B, 6.377%, 1M LIBOR + 4.500%, 09/30/24		342,564		346,472
Peak 10, Inc. 1st Lien Term Loan, 5.802%, 3M LIBOR + 3.500%, 08/01/24		350,240		351,685
2nd Lien Term Loan, 9.023%, 3M LIBOR + 7.250%, 08/01/25		148,000		149,202
				847,359
Leisure Time—0.0%
Hayward Industries, Inc. 1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 08/05/24		130,345		131,078
Lodging—0.2%
Caesars Resort Collection LLC 1st Lien Term Loan B, 4.627%, 1M LIBOR + 2.750%, 12/22/24		339,150		341,845
Cypress Intermediate Holdings III, Inc. 1st Lien Term Loan, 4.880%, 1M LIBOR + 3.000%, 04/27/24		267,653		268,796
Wyndham Hotels & Resorts, Inc. Term Loan B, 03/28/25 (j)		498,000		498,000
				1,108,641
Machinery-Diversified—0.3%
Titan Acquisition, Ltd. Term Loan B, 4.877%, 1M LIBOR + 3.500%, 03/28/25		2,084,000		2,082,210
Media—1.4%
Charter Communications Operating, LLC Term Loan A2, 03/31/23 (j)		3,035,575		3,043,164
CSC Holdings LLC Term Loan B, 4.277%, 1M LIBOR + 2.500%, 01/25/26		208,000		208,292
Ligado Networks LLC 2nd Lien Term Loan, 12/07/20 (j)		1,361,107		677,151
Term Loan, 3M LIBOR, 12/07/20 (j)		5,395,087		4,848,834
Unitymedia Finance LLC Term Loan D, 4.027%, 1M LIBOR + 2.250%, 01/15/26		445,000		444,931
				9,222,372
Miscellaneous Manufacturing—0.0%
Filtration Group Corp. 1st Lien Term Loan, 03/27/25 (j)		127,000		126,682
Office/Business Equipment—0.5%
Brand Energy & Infrastructure Services, Inc. Term Loan, 6.001%, 3M LIBOR + 4.250%, 06/21/24		3,063,709		3,092,643
Oil & Gas—1.0%
BCP Renaissance Parent LLC Term Loan B, 5.772%, 3M LIBOR + 4.000%, 10/31/24		450,832		454,044
California Resources Corp. 1st Lien Term Loan, 6.572%, 1M LIBOR + 4.750%, 12/31/22		1,589,000	$	1,619,787
Chesapeake Energy Corp. Term Loan, 9.444%, 3M LIBOR + 7.500%, 08/23/21		3,226,846		3,429,531
Gavilan Resources LLC 2nd Lien Term Loan, 7.786%, 1M LIBOR + 6.000%, 03/01/24		622,000		624,197
Medallion Midland Acquisition LLC 1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 10/30/24		215,460		215,999
Vine Oil & Gas L.P. Term Loan B, 8.752%, 1M LIBOR + 6.875%, 12/12/21		611,000		614,437
				6,957,995
Oil & Gas Services—0.3%
Lucid Energy Group II LLC 1st Lien Term Loan, 4.786%, 1M LIBOR + 3.000%, 02/17/25		204,000		203,363
Pioneer Energy Services Corp. Term Loan, 9.645%, 1M LIBOR + 7.750%, 11/08/22		1,366,000		1,427,470
Weatherford International, Ltd. Term Loan, 4.180%, 1M LIBOR + 2.300%, 07/13/20		594,848		588,899
				2,219,732
Packaging & Containers—0.2%
Horizon Holdings III SAS EUR Term Loan B4, 10/29/22 (EUR) (j)		1,000,000		1,224,213

BHFTI-70

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (h)—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—0.5%
Amneal Pharmaceuticals LLC Term Loan B, 03/07/25 (j)		1,211,000	$	1,214,279
Change Healthcare Holdings, Inc. Term Loan B, 4.627%, 1M LIBOR + 2.750%, 03/01/24		1,033,390		1,037,051
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.188%, 1M LIBOR + 4.250%, 04/29/24		999,178		1,000,302
				3,251,632
Retail—0.4%
EG Group Limited 2018 EUR Term Loan B1, 01/18/25 (EUR) (j)		510,703		626,151
2018 EUR Term Loan B2, 01/31/25 (EUR) (j)		152,905		187,470
2018 USD Term Loan B, 01/19/25 (j)		705,000		703,678
EUR Delayed Draw Term Loan B, 01/18/25 (EUR) (j)		336,391		412,425
IRB Holding Corp. 1st Lien Term Loan, 5.194%, 1M LIBOR + 3.250%, 02/05/25		195,000		197,235
Neiman Marcus Group, Ltd. LLC Term Loan, 5.141%, 1M LIBOR + 3.250%, 10/25/20		675,002		584,931
				2,711,890
Semiconductors—0.1%
CEVA Intercompany B.V. Term Loan, 7.272%, 3M LIBOR + 5.500%, 03/19/21		354,557		351,011
Software—0.8%
Applied Systems, Inc. 2nd Lien Term Loan, 9.302%, 3M LIBOR + 7.000%, 09/19/25		65,000		67,356
BMC Software Finance, Inc. 1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 09/10/22		1,075,532		1,081,399
Cypress Intermediate Holdings III, Inc. 2nd Lien Term Loan, 8.627%, 1M LIBOR + 6.750%, 04/27/25		81,000		82,687
Kronos, Inc. 2nd Lien Term Loan, 10.023%, 3M LIBOR + 8.250%, 11/01/24		1,310,000		1,361,854
Mitchell International, Inc. 1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 11/29/24		309,568		310,535
2nd Lien Term Loan, 9.137%, 1M LIBOR + 7.250%, 11/20/25		322,000		324,312
Delayed Draw Term Loan, 3.250%, 11/29/24 (k)		25,530		25,610
SS&C Technologies Holdings Europe S.a.r.l. Term Loan B4, 02/28/25 (j)		627,788		631,761
SS&C Technologies, Inc. Term Loan B3, 02/28/25 (j)		1,759,827		1,770,964
				5,656,478
Telecommunications—1.2%
CenturyLink, Inc. Term Loan B, 4.627%, 1M LIBOR + 2.750%, 01/31/25		1,816,448		1,790,905
Digicel International Finance, Ltd. Term Loan B, 5.020%, 3M LIBOR + 3.250%, 05/28/24		1,047,918		1,044,643
Intelsat Jackson Holdings S.A. 2017 Term Loan B5, 6.625%, 01/14/24 (j)		3,650,200		3,711,038
Telecommunications—(Continued)
Intelsat Jackson Holdings S.A. Term Loan B3, 5.706%, 3M LIBOR + 3.750%, 11/27/23		205,800		206,202
Term Loan B4, 6.456%, 3M LIBOR + 4.500%, 01/14/24		515,000		531,952
Lumos Networks Operating Co. Term Loan, 11/17/24 (j)		131,300		132,325
Virgin Media Bristol LLC Term Loan, 4.277%, 1M LIBOR + 2.500%, 01/15/26		243,303		244,824
West Corp. Term Loan B1, 10/10/24 (j)		164,000		165,640
Xplornet Communications, Inc. Term Loan B, 09/09/21 (j)		654,360		662,539
				8,490,068
Transportation—0.1%
CEVA Group plc Letter of Credit, 6.500%, 3M LIBOR + 5.500%, 03/19/21		348,940		345,451
PQ Corp. Term Loan B, 4.291%, 3M LIBOR + 2.500%, 02/08/25		172,381		173,166
XPO Logistics, Inc. Term Loan B, 3.920%, 3M LIBOR + 2.000%, 02/24/25		299,937		301,380
				819,997
Total Floating Rate Loans (Cost $73,343,576)				73,157,137
Asset-Backed Securities—2.1%
Asset-Backed - Other—2.1%
AMMC CLO, Ltd. 6.944%, 3M LIBOR + 5.000%, 05/26/28 (144A) (b)		500,000		501,995
Anchorage Capital CLO, Ltd. 5.960%, 3M LIBOR + 4.200%, 07/28/28 (144A) (b)		1,000,000		1,005,426
Apidos CLO 1.000%, 3M LIBOR + 1.850%, 04/20/31		500,000		500,000
4.995%, 3M LIBOR + 3.250%, 07/22/26 (144A) (b)		550,000		550,320
Ares CLO, Ltd. 7.872%, 3M LIBOR + 6.150%, 10/15/30 (144A) (b)		500,000		511,031
Atlas Senior Loan Fund X, Ltd. 3.206%, 3M LIBOR + 1.500%, 01/15/31 (144A) (b)		250,000		249,749
3.556%, 3M LIBOR + 1.850%, 01/15/31 (144A) (b)		450,000		449,996
Ballyrock CLO, Ltd. 4.422%, 3M LIBOR + 2.700%, 10/15/28 (144A) (b)		1,000,000		1,005,730
Carlyle Global Market Strategies CLO, Ltd. 8.745%, 3M LIBOR + 7.000%, 10/20/29 (144A) (b)		750,000		764,498
Cedar Funding CLO, Ltd. 4.981%, 3M LIBOR + 3.250%, 10/17/30 (144A)		270,000		273,047
CIFC Funding, Ltd. 3.557%, 3M LIBOR + 1.400%, 04/18/31 (144A) (b)		400,000		401,000
Highbridge Loan Management, Ltd. Zero Coupon, 3M LIBOR + 1.700%, 03/15/27 (144A) (b)		500,000		500,000
HPS Loan Management, Ltd. 8.189%, 3M LIBOR + 6.450%, 07/19/27 (144A) (b)		800,000		806,700
Madison Park Funding, Ltd. 4.995%, 3M LIBOR + 3.250%, 07/20/26 (144A) (b)		250,000		250,109
OCP CLO, Ltd. 3.022%, 3M LIBOR + 1.270%, 10/26/30 (144A) (b)		600,000		603,453

BHFTI-71

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Shares/ Principal Amount*		Value
Asset-Backed - Other—(Continued)
Octagon Investment Partners 26, Ltd. 6.672%, 3M LIBOR + 4.950%, 04/15/27 (144A) (b)		500,000	$	500,574
Octagon Investment Partners 27, Ltd. 8.822%, 3M LIBOR + 7.100%, 07/15/27 (144A) (b)		1,000,000		1,010,091
Octagon Investment Partners XVII, Ltd. Zero Coupon, 3M LIBOR + 3.050%, 01/25/31 (144A) (b)		1,500,000		1,499,340
OneMain Financial Issuance Trust 4.320%, 07/18/25 (144A)		200,000		199,696
Palmer Square CLO, Ltd. 3.581%, 3M LIBOR + 1.850%, 01/17/31 (144A) (b)		250,000		249,497
Sound Point CLO, Ltd. 5.995%, 3M LIBOR + 4.250%, 10/20/28 (144A) (b)		500,000		506,347
Stewart Park CLO, Ltd. 7.002%, 3M LIBOR + 5.280%, 01/15/30 (144A) (b)		500,000		491,961
Symphony CLO, Ltd. 6.522%, 3M LIBOR + 4.800%, 04/15/28 (144A) (b)		250,000		250,281
Westcott Park CLO, Ltd. 6.095%, 3M LIBOR + 4.350%, 07/20/28 (144A) (b)		500,000		510,733
8.945%, 3M LIBOR + 7.200%, 07/20/28 (144A) (b)		500,000		515,241
Total Asset-Backed Securities (Cost $13,722,264)				14,106,815
Convertible Preferred Stocks—1.3%
Entertainment—1.2%
Stars Group, Inc. (The) Zero Coupon, 12/31/49		5,449,000		8,468,609
Machinery—0.1%
Rexnord Corp. 5.750%, 11/15/19		7,350		472,458
Total Convertible Preferred Stocks (Cost $5,455,052)				8,941,067
Common Stocks—1.2%
Auto Components—0.0%
Lear Corp.		525		97,697
Chemicals—0.2%
Advanced Emissions Solutions, Inc. (a)		11,202		127,927
Platform Specialty Products Corp. (a) (l)		120,724		1,162,572
				1,290,499
Equity Real Estate Investment Trusts—0.1%
Gaming and Leisure Properties, Inc.		19,300		645,971
Health Care Providers & Services—0.1%
Tenet Healthcare Corp. (l)		14,004		339,597
Universal Health Services, Inc. - Class B		4,510		534,029
				873,626
IT Services—0.1%
First Data Corp. - Class A (l)		40,029		640,464
Machinery—0.0%
Gates Industrial Corp. plc (l)		5,946		104,115
Media—0.1%
Altice USA, Inc. - Class A (a) (l)		35,135		649,295
Metals & Mining—0.1%
Constellium NV - Class A (l)		88,039		955,223
Oil, Gas & Consumable Fuels—0.3%
Gener8 Maritime, Inc. (l)		266,132		1,503,646
Halcon Resources Corp. (l) (m)		50,598		246,412
				1,750,058
Wireless Telecommunication Services—0.2%
T-Mobile U.S., Inc. (l)		22,900		1,397,816
Total Common Stocks (Cost $11,594,069)				8,404,764
Preferred Stocks—0.6%
Banks—0.6%
GMAC Capital Trust, 7.624%, 02/15/40(a)(b)		143,228		3,721,064
Diversified Financial Services—0.0%
Marsico Parent Superholdco LLC , 12/14/19 (144A) (f) (g) (l)		25		0
Total Preferred Stocks (Cost $3,805,108)				3,721,064
Mutual Funds—0.3%
Investment Company Securities—0.3%
Financial Select Sector SPDR Fund (a)		37,381		1,030,594
SPDR S&P Oil & Gas Exploration & Production ETF (a)		27,027		951,891
Total Mutual Funds (Cost $2,115,123)				1,982,485
Convertible Bonds—0.1%
Media—0.1%
DISH Network Corp. 3.375%, 08/15/26 (a)		501,000		482,563
Telecommunications—0.0%
Telecom Italia S.p.A. 1.125%, 03/26/22		100,000		121,330
Total Convertible Bonds (Cost $672,921)				603,893

BHFTI-72

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Escrow Shares—0.0%

Security Description	Shares/ Principal Amount*		Value
Auto Parts & Equipment—0.0%
Lear Corp. (d) (f) (g) (i)		1,395,000	$	0
Lear Corp. (d) (f) (g) (i)		1,530,000		0
				0
Chemicals—0.0%
Momentive Performance Materials, Inc. (d) (f) (g) (i)		1,398,000		0
				0
Diversified Financial Services—0.0%
Lehman Brothers Holdings, Inc. (d) (i)		489,000		19,560
Lehman Brothers Holdings, Inc. (d) (i)		1,740,000		69,600
				89,160
Total Escrow Shares (Cost $0)				89,160
Warrant—0.0%
Media—0.0%
HMH Publishing Co., Ltd., Expires 06/22/19 (f) (g) (l) (m) (Cost $16)		1,601		0
Short-Term Investment—2.7%
Repurchase Agreement—2.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $18,576,998; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $18,952,001.		18,575,760		18,575,760
Total Short-Term Investments (Cost $18,575,760)				18,575,760
Securities Lending Reinvestments (n)—5.3%
Certificates of Deposit—2.8%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (b)		1,000,000		999,930
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (b)		1,000,000		999,564
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (b)		500,000		499,963
Chiba Bank, Ltd., New York 1.740%, 04/11/18		1,000,000		999,923
China Construction Bank 1.950%, 04/20/18		1,000,000		999,896
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (b)		1,000,000		999,825
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (b)		250,000		249,972
1.976%, 1M LIBOR + 0.190%, 04/16/18 (b)		1,000,000		999,958
Certificates of Deposit—(Continued)
Mizuho Bank, Ltd., New York 2.008%, 1M LIBOR + 0.200%, 04/18/18		1,000,000		999,986
2.077%, 1M LIBOR + 0.200%, 05/29/18		500,000		499,958
Natixis New York 2.220%, 06/11/18		500,000		500,083
Norinchukin Bank New York 2.061%, 1M LIBOR + 0.200%, 07/23/18 (b)		1,000,000		999,522
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		1,000,000		1,000,099
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (b)		1,000,000		998,090
2.301%, 1M LIBOR + 0.440%, 09/17/18 (b)		500,000		499,930
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (b)		1,000,000		999,917
Standard Chartered plc 2.250%, 08/21/18		1,000,000		999,580
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (b)		500,000		499,973
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (b)		500,000		499,625
Sumitomo Mitsui Banking Corp., New York 1.930%, 1M LIBOR + 0.190%, 04/12/18 (b)		500,000		499,978
2.010%, 1M LIBOR + 0.270%, 09/10/18 (b)		1,000,000		999,701
2.062%, 1M LIBOR + 0.190%, 04/26/18 (b)		1,000,000		999,992
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (b)		500,000		500,192
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (b)		1,000,000		999,911
				19,245,568
Commercial Paper—1.0%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (b)		500,000		499,954
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		996,788		998,924
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (b)		1,250,000		1,249,555
LMA S.A. & LMA Americas 2.150%, 06/04/18		1,491,579		1,494,060
Macquarie Bank, Ltd., London 2.020%, 05/16/18		497,503		498,735
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (b)		1,250,000		1,249,820
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (b)		1,000,000		999,856
				6,990,904
Repurchase Agreements—1.3%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $100,020; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $102,001.		100,000		100,000

BHFTI-73

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (m)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $100,477; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $111,071.		100,000	$	100,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $1,001,035; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $254,497; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $277,678.		250,000		250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $977,452; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $996,814.		977,267		977,267
Merrill Lynch Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,905,975; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $3,029,553.		2,800,000		2,800,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $700,731; collateralized by various Common Stock with an aggregate market value of $778,582.		700,000		700,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $1,000,198; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $901,138; collateralized by various Common Stock with an aggregate market value of $1,000,552.		900,000		900,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $600,516; collateralized by various Common Stock with an aggregate market value of $667,034.		600,000		600,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $300,182; collateralized by various Common Stock with an aggregate market value of $333,517.		300,000		300,000
				8,727,267
Time Deposit—0.2%
Svenska Handelsbanken AB 1.640%, 04/02/18		1,000,000		1,000,000
Total Securities Lending Reinvestments (Cost $35,969,409)				35,963,739
Total Investments—107.6% (Cost $736,450,248)				733,595,977
Unfunded Loan Commitments—(0.0)% (Cost $(61,306))				(61,306	)
Net Investments—107.6% (Cost $736,388,942)				733,534,671
Other assets and liabilities (net)—(7.6)%				(51,906,940	)
Net Assets—100.0%			$	681,627,731

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $35,725,086 and the collateral received consisted of cash in the amount of $35,963,137. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Payment-in-kind security for which part of the income earned may be paid as additional principal.
(d)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(e)	All or a portion of the security was pledged as collateral against open reverse repurchase agreements. As of March 31, 2018, the value of securities pledged amounted to $1,020,650.
(f)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(g)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent less than 0.05% of net assets.
(h)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the

BHFTI-74

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

	London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(i)	Illiquid security. As of March 31, 2018, these securities represent 0.0% of net assets.
(j)	This loan will settle after March 31, 2018, at which time the interest rate will be determined.
(k)	Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to fund these commitments at the borrower’s discretion.
(l)	Non-income producing security.
(m)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $246,412 which is 0.0% of net assets. See details shown in the Restricted Securities table that follows.
(n)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $319,479,745, which is 46.9% of net assets.

Restricted Securities	Acquisition Date		Shares/ Principal Amount		Cost		Value
HMH Publishing Co., Ltd. 06/22/19		06/22/12		1,601	$	16	$	—
Halcon Resources Corp		01/25/17		50,598		366,955		246,412
							$	246,412

Reverse Repurchase Agreement

Counterparty

Interest Rate

Settlement Date

Maturity Date(a)

Principal Amount

Net Closing Amount

Credit Suisse Securities (USA) LLC

1.550

%

06/30/17

OPEN

USD

1,003,750

$

1,003,750

(a) Certain agreements have no stated maturity and can be terminated by either party at any time.

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	26,630,000	UBSA		04/04/18		USD	32,821,475	$	(54,600	)
GBP	4,451,000	TDB		04/04/18		USD	6,264,782		(20,026	)
Contracts to Deliver
EUR	1,091,000	HSBC		04/04/18		USD	1,354,389		11,968
EUR	25,897,000	JPMC		04/04/18		USD	31,696,529		(168,426	)
EUR	143,000	NIP		04/04/18		USD	176,296		342
EUR	299,000	UBSA		04/04/18		USD	368,211		307
EUR	26,630,000	UBSA		05/02/18		USD	32,886,772		54,567
GBP	95,000	RBS		04/04/18		USD	131,787		(1,498	)
GBP	4,279,000	TDB		04/04/18		USD	5,919,877		(83,563	)
GBP	4,451,000	TDB		05/02/18		USD	6,272,109		19,920
Net Unrealized Depreciation								$	(241,009	)

BHFTI-75

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro STOXX 50 Index Futures		06/15/18		1			EUR	32,810		$	(445	)
STOXX Europe 600 Bank Index Futures		06/15/18		2			EUR	16,980			(755	)
Futures Contracts—Short
Euro-Bobl Futures		06/07/18		(1	)		EUR	(131,250	)		(838	)
U.S. Treasury Note 10 Year Futures		06/20/18		(2	)		USD	(242,281	)		(2,268	)
United Kingdom Long Gilt Bond Futures		06/27/18		(1	)		GBP	(122,820	)		(2,484	)
Net Unrealized Depreciation										$	(6,790	)

Swap Agreements

Centrally Cleared Credit Default Swaps on Corporate Issues and Credit Indices—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate	Payment Frequency		Maturity Date	Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation
CDX.NA.HY.29.V1	5.000%		Quarterly	12/20/22	3.387%		USD	2,632,500	$	170,858	$	168,009	$	2,849
Chesapeake Energy Corp. 6.625%, due 08/15/20	5.000%		Quarterly	12/20/21	6.552%		USD	280,000		(2,789)		(11,186)		8,397
Totals									$	168,069	$	156,823	$	11,246

OTC Credit Default Swaps on Corporate Issues—Buy Protection (a)

Reference Obligation

Fixed Deal (Pay) Rate

Payment Frequency

Maturity Date

Counterparty

Implied Credit Spread at March 31, 2018(b)

Notional Amount(c)

Market Value

Upfront Premium Paid

Unrealized Depreciation

Frontier Communications Corp. 9.000%, due 08/15/31

(5.000%)

Quarterly

06/20/23

BBP

16.478%

USD

382,368

$

131,312

$

134,785

$

(3,473)

OTC Credit Default Swaps on Corporate Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency	Maturity Date		Counterparty	Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Casino Guichard Perrachon S.A. 4.407%, due 08/06/19		1.000%	Quarterly		12/20/22	JPMC	2.641%		EUR	50,000	$	(4,479)	$	(2,126)	$	(2,353)
Fiat Chrysler Automobiles NV 4.500%, due 04/15/20		5.000%	Quarterly		12/20/22	CBNA	1.475%		EUR	50,000		10,015		10,561		(546)
Intrum Justitia AB 3.125%, due 07/15/24		5.000%	Quarterly		06/20/23	CSI	3.391%		EUR	30,000		2,840		3,181		(341)
Jaguar Land Rover Automotive Plc 5.000%, due 02/15/22		5.000%	Quarterly		12/20/22	BBP	1.859%		EUR	60,000		10,595		11,780		(1,185)
Jaguar Land Rover Automotive Plc 5.000%, due 02/15/22		5.000%	Quarterly		12/20/22	JPMC	1.859%		EUR	80,000		14,127		15,370		(1,243)
Saipem Finance International B.V. 3.750%, due 09/08/22		5.000%	Quarterly		06/20/22	CSI	1.749%		EUR	100,000		16,473		7,245		9,228
Telecom Italia S.p.A. 5.375%, due 01/29/19		1.000%	Quarterly		12/20/22	CBNA	1.338%		EUR	50,000		(964)		(1,003)		39
Totals											$	48,607	$	45,008	$	3,599

BHFTI-76

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(a) If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

(c) The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.

(d) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.
(NIP)—	Nomura International plc
(RBS)—	Royal Bank of Scotland plc
(TDB)—	Toronto Dominion Bank
(UBSA)—	UBS AG

Currencies

(CAD)—	Canadian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(USD)—	United States Dollar

Index Abbreviations

(CDX.NA.HY)—	Markit North America High Yield CDS Index
(EURIBOR)—	Euro Interbank Offered Rate
(FEDEFF PRV) —	Effective Federal Rate Index
(ICE)—	Intercontinental Exchange, Inc.
(LIBOR)—	London InterBank Offered Rate

Other Abbreviations

(CLO)—	Collateralized Loan Obligation
(ETF)—	Exchange-Traded Fund

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

BHFTI-77

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Corporate Bonds & Notes
Advertising	$	—	$	2,377,130	$	—	$	2,377,130
Aerospace/Defense		—		7,828,850		—		7,828,850
Airlines		—		1,305,138		—		1,305,138
Apparel		—		125,433		—		125,433
Auto Manufacturers		—		3,216,308		—		3,216,308
Auto Parts & Equipment		—		2,938,493		—		2,938,493
Banks		—		20,997,403		—		20,997,403
Building Materials		—		4,663,201		—		4,663,201
Chemicals		—		21,802,140		—		21,802,140
Coal		—		1,584,642		—		1,584,642
Commercial Services		—		23,441,252		—		23,441,252
Computers		—		4,306,522		—		4,306,522
Cosmetics/Personal Care		—		476,093		—		476,093
Distribution/Wholesale		—		6,168,728		—		6,168,728
Diversified Financial Services		—		25,782,677		—		25,782,677
Electric		—		11,481,922		—		11,481,922
Electrical Components & Equipment		—		244,045		—		244,045
Electronics		—		54,191		—		54,191
Energy-Alternate Sources		—		1,332,874		—		1,332,874
Engineering & Construction		—		3,051,112		—		3,051,112
Entertainment		—		7,731,750		0		7,731,750
Environmental Control		—		3,367,963		—		3,367,963
Food		—		6,834,245		—		6,834,245
Food Service		—		968,285		—		968,285
Forest Products & Paper		—		801,035		—		801,035
Gas		—		1,542,135		—		1,542,135
Healthcare-Products		—		10,657,636		—		10,657,636
Healthcare-Services		—		29,204,905		—		29,204,905
Holding Companies-Diversified		—		165,315		—		165,315
Home Builders		—		8,010,505		—		8,010,505
Home Furnishings		—		215,600		—		215,600
Household Products/Wares		—		723,563		—		723,563
Insurance		—		7,957,448		—		7,957,448
Internet		—		5,232,961		—		5,232,961
Iron/Steel		—		5,512,696		—		5,512,696
Leisure Time		—		2,706,903		—		2,706,903
Lodging		—		5,815,360		—		5,815,360
Machinery-Construction & Mining		—		5,277,842		—		5,277,842
Machinery-Diversified		—		2,526,549		—		2,526,549
Media		—		55,535,114		—		55,535,114
Metal Fabricate/Hardware		—		5,036,210		—		5,036,210
Mining		—		20,286,494		—		20,286,494
Miscellaneous Manufacturing		—		9,379,568		—		9,379,568
Office/Business Equipment		—		1,512,289		—		1,512,289
Oil & Gas		—		55,196,379		—		55,196,379
Oil & Gas Services		—		5,079,177		—		5,079,177
Packaging & Containers		—		16,443,453		—		16,443,453
Pharmaceuticals		—		16,183,878		—		16,183,878
Pipelines		—		18,395,301		—		18,395,301
Real Estate		—		2,868,094		0		2,868,094
Real Estate Investment Trusts		—		14,337,691		—		14,337,691
Retail		—		13,100,878		—		13,100,878
Semiconductors		—		3,900,412		—		3,900,412
Software		—		29,594,059		—		29,594,059
Storage/Warehousing		—		2,753,285		—		2,753,285
Telecommunications		—		46,320,202		—		46,320,202

BHFTI-78

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Textiles	$	—	$	134,829	$	—	$	134,829
Toys/Games/Hobbies		—		883,767		—		883,767
Transportation		—		1,590,613		—		1,590,613
Trucking & Leasing		—		1,087,550		—		1,087,550
Total Corporate Bonds & Notes		—		568,050,093		0		568,050,093
Floating Rate Loans
Aerospace/Defense		—		1,708,071		—		1,708,071
Air Freight & Logistics		—		551,551		—		551,551
Airlines		—		—		135,168		135,168
Auto Manufacturers		—		105,950		—		105,950
Auto Parts & Equipment		—		278,380		—		278,380
Building Materials		—		1,748,360		—		1,748,360
Chemicals		—		4,014,010		—		4,014,010
Coal		—		62,559		—		62,559
Commercial Services		—		1,615,106		—		1,615,106
Computers (Less Unfunded Loan Commitments of $35,776)		—		477,523		—		477,523
Cosmetics/Personal Care		—		1,393,507		—		1,393,507
Distribution/Wholesale		—		299,821		—		299,821
Electric		—		305,020		—		305,020
Electrical Components & Equipment		—		484,349		—		484,349
Electronics		—		135,464		—		135,464
Energy-Alternate Sources		—		178,985		—		178,985
Entertainment		—		1,229,571		—		1,229,571
Food		—		2,272,152		—		2,272,152
Healthcare-Products		—		3,372,348		—		3,372,348
Healthcare-Services		—		1,545,825		—		1,545,825
Hotels, Restaurants & Leisure		—		327,511		—		327,511
Insurance		—		1,437,760		—		1,437,760
Internet		—		1,148,369		—		1,148,369
IT Services		—		847,359		—		847,359
Leisure Time		—		131,078		—		131,078
Lodging		—		1,108,641		—		1,108,641
Machinery-Diversified		—		2,082,210		—		2,082,210
Media		—		9,222,372		—		9,222,372
Miscellaneous Manufacturing		—		126,682		—		126,682
Office/Business Equipment		—		3,092,643		—		3,092,643
Oil & Gas		—		6,957,995		—		6,957,995
Oil & Gas Services		—		2,219,732		—		2,219,732
Packaging & Containers		—		1,224,213		—		1,224,213
Pharmaceuticals		—		3,251,632		—		3,251,632
Retail		—		2,711,890		—		2,711,890
Semiconductors		—		351,011		—		351,011
Software (Less Unfunded Loan Commitments of $25,530)		—		5,630,948		—		5,630,948
Telecommunications		—		8,490,068		—		8,490,068
Transportation		—		819,997		—		819,997
Total Floating Rate Loans (Less Unfunded Loan Commitments)		—		72,960,663		135,168		73,095,831
Total Asset-Backed Securities*		—		14,106,815		—		14,106,815
Convertible Preferred Stocks
Entertainment		—		8,468,609		—		8,468,609
Machinery		472,458		—		—		472,458
Total Convertible Preferred Stocks		472,458		8,468,609		—		8,941,067
Total Common Stocks*		8,404,764		—		—		8,404,764
Preferred Stocks
Banks		3,721,064		—		—		3,721,064
Diversified Financial Services		—		—		0		0
Total Preferred Stocks		3,721,064		—		0		3,721,064
Total Mutual Funds*		1,982,485		—		—		1,982,485
Total Convertible Bonds*		—		603,893		—		603,893

BHFTI-79

Brighthouse Funds Trust I

BlackRock High Yield Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Escrow Shares
Auto Parts & Equipment	$	—		$	—		$	0	$	0
Chemicals		—			—			0		0
Diversified Financial Services		—			89,160			—		89,160
Total Escrow Shares		—			89,160			0		89,160
Total Warrant*		—			—			0		0
Total Short-Term Investment*		—			18,575,760			—		18,575,760
Total Securities Lending Reinvestments*		—			35,963,739			—		35,963,739
Total Net Investments	$	14,580,771		$	718,818,732		$	135,168	$	733,534,671
Collateral for Securities Loaned (Liability)	$	—		$	(35,963,137	)	$	—	$	(35,963,137	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	87,104		$	—	$	87,104
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(328,113	)		—		(328,113	)
Total Forward Contracts	$	—		$	(241,009	)	$	—	$	(241,009	)
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(6,790	)	$	—		$	—	$	(6,790	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	11,246		$	—	$	11,246
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	185,362		$	—	$	185,362
OTC Swap Contracts at Value (Liabilities)		—			(5,443	)		—		(5,443	)
Total OTC Swap Contracts	$	—		$	179,919		$	—	$	179,919
Total Reverse Repurchase Agreements (Liability)	$	—		$	(1,003,750	)	$	—	$	(1,003,750	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended March 31, 2018 is not presented.

BHFTI-80

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—92.7% of Net Assets

Security Description	Shares		Value
Brazil—12.1%
Ambev S.A.		3,690,000	$	26,902,815
Banco Bradesco S.A. (ADR)		3,510,636		41,706,356
BRF S.A. (a)		1,464,068		10,124,240
Lojas Renner S.A.		2,364,900		24,605,648
Multiplan Empreendimentos Imobiliarios S.A.		858,537		17,860,128
Ultrapar Participacoes S.A.		1,237,321		26,579,474
Vale S.A. (ADR)		2,172,100		27,629,112
				175,407,773
Chile—2.4%
Banco Santander Chile (ADR)		559,000		18,732,090
SACI Falabella		1,664,000		15,953,900
				34,685,990
China—20.0%
China International Travel Service Corp., Ltd. - Class A		1,757,390		15,111,804
China Mobile, Ltd.		3,620,500		33,126,010
China Resources Land, Ltd.		6,228,000		22,948,551
Hangzhou Hikvision Digital Technology Co., Ltd. - Class A		3,301,785		22,030,088
Kweichow Moutai Co., Ltd. - Class A		255,786		28,294,697
Midea Group Co., Ltd. - Class A		2,368,799		21,077,226
Ping An Insurance Group Co. of China, Ltd. - Class H		1,766,500		18,176,543
Shanghai International Airport Co., Ltd. - Class A		2,602,722		19,808,966
Tencent Holdings, Ltd.		1,542,500		82,109,158
Yum China Holdings, Inc.		665,700		27,626,550
				290,309,593
Hong Kong—5.7%
AIA Group, Ltd.		4,683,200		39,979,885
Hang Lung Group, Ltd. (b)		4,961,000		16,263,744
Hang Lung Properties, Ltd.		1,819,000		4,268,366
Hong Kong Exchanges and Clearing, Ltd.		666,159		21,896,557
				82,408,552
Hungary—0.8%
Richter Gedeon Nyrt		544,100		11,381,860
India—14.0%
Hero MotoCorp, Ltd.		368,900		20,078,422
Hindustan Unilever, Ltd.		1,000,400		20,614,819
Housing Development Finance Corp., Ltd.		2,078,400		58,309,590
ITC, Ltd.		7,456,200		29,381,737
Kotak Mahindra Bank, Ltd.		989,300		16,114,125
Tata Consultancy Services, Ltd.		450,268		19,740,992
UltraTech Cement, Ltd.		647,063		39,389,196
				203,628,881
Indonesia—4.4%
Astra International Tbk PT		57,296,200		30,521,251
Bank Central Asia Tbk PT		12,060,500		20,476,505
Indocement Tunggal Prakarsa Tbk PT (b)		11,316,700		13,229,184
				64,226,940
Malaysia—1.3%
Public Bank Bhd		3,025,400		18,866,857
Mexico—5.0%
Fomento Economico Mexicano S.A.B. de C.V. (ADR)		318,177		29,090,923
Grupo Aeroportuario del Sureste S.A.B. de C.V. - Class B		1,059,000		18,035,283
Grupo Financiero Banorte S.A.B. de C.V. - Class O		4,308,532		26,249,791
				73,375,997
Philippines—3.5%
Ayala Corp.		138,120		2,525,295
Ayala Land, Inc.		35,235,000		27,840,724
Bank of the Philippine Islands (b)		9,511,470		21,425,090
				51,791,109
Poland—0.9%
Bank Pekao S.A.		380,100		13,709,231
Portugal—0.9%
Jeronimo Martins SGPS S.A.		753,600		13,743,383
Russia—2.3%
Lukoil PJSC (ADR) (London Traded Shares)		253,122		17,462,342
Lukoil PJSC (ADR)		1,478		102,307
Magnit PJSC		189,700		15,408,144
				32,972,793
South Africa—3.9%
Massmart Holdings, Ltd.		1,221,435		16,712,228
MTN Group, Ltd.		1,848,900		18,732,002
Truworths International, Ltd. (c)		2,314,099		21,204,815
				56,649,045
South Korea—3.5%
AmorePacific Group		92,062		11,902,448
LG Chem, Ltd.		40,122		14,693,834
NAVER Corp.		32,193		23,871,650
				50,467,932
Taiwan—4.8%
Taiwan Semiconductor Manufacturing Co., Ltd.		8,178,000		69,504,982
Thailand—3.9%
Siam Cement PCL (The)		2,062,850		32,588,676
Siam Commercial Bank PCL (The)		5,148,800		23,628,168
				56,216,844
Turkey—2.5%
Akbank Turk A/S		3,986,900		9,672,163
BIM Birlesik Magazalar A/S		896,200		16,201,123
Turkiye Garanti Bankasi A/S		3,683,900		10,190,501
				36,063,787

BHFTI-81

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
United Kingdom—0.8%
Standard Chartered plc		1,168,057	$	11,696,168
Total Common Stocks (Cost $1,059,614,118)				1,347,107,717
Preferred Stocks—6.5%
South Korea—6.5%
AmorePacific Corp.		36,665		5,541,472
Samsung Electronics Co., Ltd.		46,261		89,250,350
Total Preferred Stocks (Cost $56,770,919)				94,791,822
Short-Term Investment—0.8%
Repurchase Agreement—0.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $11,433,788; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $11,662,770.		11,433,025		11,433,025
Total Short-Term Investments (Cost $11,433,025)				11,433,025
Securities Lending Reinvestments (d)—0.7%
Repurchase Agreements—0.6%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $700,136; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $714,004.		700,000		700,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $400,078; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $408,001.		400,000		400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $400,080; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $408,003.		400,000		400,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $150,155; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $166,607.		150,000		150,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $351,670; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $388,749.		350,000		350,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $220,881; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $225,257.		220,839		220,839
Natixis New York Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,000,200; collateralized by U.S. Government Obligations with rates ranging from 0.000% - 8.750%, maturity dates ranging from 08/30/18 - 02/15/45, and an aggregate market value of $1,020,051.		1,000,000		1,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $500,437; collateralized by various Common Stock with an aggregate market value of $556,130.		500,000		500,000
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $905,689; collateralized by various Common Stock with an aggregate market value of $1,001,034.		900,000		900,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $1,900,376; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $1,938,000.		1,900,000		1,900,000
Societe Generale Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,607; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $100,086; collateralized by various Common Stock with an aggregate market value of $111,172.		100,000		100,000
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				8,620,839

BHFTI-82

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—0.1%
DNB Bank ASA
1.640%, 04/02/18		300,000	$	300,000
DZ Bank AG
1.670%, 04/02/18		300,000		300,000
Nordea Bank New York
1.640%, 04/02/18		300,000		300,000
Svenska Handelsbanken AB
1.640%, 04/02/18		300,000		300,000
				1,200,000
Total Securities Lending Reinvestments (Cost $9,820,839)				9,820,839
Total Investments—100.7% (Cost $1,137,638,901)				1,463,153,403
Other assets and liabilities (net)—(0.7)%				(10,626,528	)
Net Assets—100.0%			$	1,452,526,875

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	Illiquid security. As of March 31, 2018, these securities represent 3.5% of net assets.
(c)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $9,008,152 and the collateral received consisted of cash in the amount of $9,820,839. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(ADR)—	American Depositary Receipt

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Banks		16.0
Internet Software & Services		7.3
Technology Hardware, Storage & Peripherals		6.1
Real Estate Management & Development		6.1
Construction Materials		5.9
Beverages		5.8
Semiconductors & Semiconductor Equipment		4.8
Food & Staples Retailing		4.3
Thrifts & Mortgage Finance		4.0
Insurance		4.0

BHFTI-83

Brighthouse Funds Trust I

Brighthouse/Aberdeen Emerging Markets Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	175,407,773	$	—		$	—	$	175,407,773
Chile		34,685,990		—			—		34,685,990
China		27,626,550		262,683,043			—		290,309,593
Hong Kong		—		82,408,552			—		82,408,552
Hungary		—		11,381,860			—		11,381,860
India		—		203,628,881			—		203,628,881
Indonesia		—		64,226,940			—		64,226,940
Malaysia		—		18,866,857			—		18,866,857
Mexico		29,090,923		44,285,074			—		73,375,997
Philippines		—		51,791,109			—		51,791,109
Poland		—		13,709,231			—		13,709,231
Portugal		—		13,743,383			—		13,743,383
Russia		17,564,649		15,408,144			—		32,972,793
South Africa		—		56,649,045			—		56,649,045
South Korea		—		50,467,932			—		50,467,932
Taiwan		—		69,504,982			—		69,504,982
Thailand		56,216,844		—			—		56,216,844
Turkey		—		36,063,787			—		36,063,787
United Kingdom		—		11,696,168			—		11,696,168
Total Common Stocks		340,592,729		1,006,514,988			—		1,347,107,717
Total Preferred Stocks*		—		94,791,822			—		94,791,822
Total Short-Term Investment*		—		11,433,025			—		11,433,025
Total Securities Lending Reinvestments*		—		9,820,839			—		9,820,839
Total Investments	$	340,592,729	$	1,122,560,674		$	—	$	1,463,153,403
Collateral for Securities Loaned (Liability)	$	—	$	(9,820,839	)	$	—	$	(9,820,839	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $25,149,718 were due to the application of a systematic fair valuation model factor. Transfers from Level 2 to Level 1 in the amount of $129,644,302 were due to the discontinuation of a systematic fair valuation model factor.

BHFTI-84

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—90.3% of Net Assets

Security Description	Shares		Value
Brazil—2.3%
Ambev S.A. (ADR)		498,860	$	3,626,712
B3 S.A. - Brasil Bolsa Balcao		340,519		2,752,867
Petroleo Brasileiro S.A. (ADR) (a)		1,264,158		17,875,194
				24,254,773
Canada—2.1%
Canadian Pacific Railway, Ltd.		129,288		22,819,332
China—3.7%
Alibaba Group Holding, Ltd. (ADR) (a)		45,503		8,351,621
China Literature, Ltd. (144A) (a)		7,389		68,960
Kweichow Moutai Co., Ltd. - Class A		19,788		2,188,922
NetEase, Inc. (ADR)		44,460		12,466,139
Ping An Insurance Group Co. of China, Ltd. - Class H		1,579,000		16,247,247
				39,322,889
Denmark—0.6%
Genmab A/S (a)		30,262		6,514,945
France—7.5%
Airbus SE		269,211		31,148,704
Atos SE		25,350		3,470,840
BNP Paribas S.A.		158,679		11,765,323
Eiffage S.A. (144A)		126,602		14,421,982
Safran S.A.		40,485		4,290,238
Schneider Electric SE		109,014		9,588,963
Vinci S.A.		61,153		6,021,191
				80,707,241
Germany—24.6%
Allianz SE		175,659		39,697,949
Beiersdorf AG		165,098		18,695,551
Deutsche Boerse AG		458,600		62,473,056
Deutsche Post AG		731,423		31,984,619
Deutsche Telekom AG		752,564		12,276,721
LANXESS AG		4,789		367,182
Linde AG		2,206		442,889
Linde AG (a)		232,678		48,982,845
SAP SE		80,270		8,399,937
Wirecard AG		344,172		40,683,974
				264,004,723
Hong Kong—2.9%
AIA Group, Ltd.		3,415,972		29,161,720
Sands China, Ltd.		324,000		1,759,320
				30,921,040
Indonesia—0.7%
Bank Rakyat Indonesia Persero Tbk PT		28,672,000		7,525,529
Italy—5.7%
Assicurazioni Generali S.p.A.		1,160,466		22,373,152
Intesa Sanpaolo S.p.A.		6,008,333		21,911,089
Italy—(Continued)
UniCredit S.p.A. (a)		796,046		16,702,734
				60,986,975
Japan—7.5%
Calbee, Inc. (b)		369,700		12,552,333
Japan Exchange Group, Inc.		224,400		4,196,867
Japan Tobacco, Inc.		523,692		14,985,535
Mitsubishi UFJ Financial Group, Inc.		1,335,400		8,863,256
Nintendo Co., Ltd.		45,400		20,244,636
Rohm Co., Ltd.		92,100		8,762,695
Sumitomo Metal Mining Co., Ltd.		271,352		11,180,130
				80,785,452
Netherlands—6.5%
Akzo Nobel NV		133,135		12,586,206
ASML Holding NV		88,531		17,515,585
ING Groep NV		2,144,560		36,221,036
Randstad Holding NV (b)		45,720		3,012,413
				69,335,240
Russia—1.2%
MMC Norilsk Nickel PJSC (ADR)		665,774		12,355,756
Spain—0.2%
Grifols S.A. (ADR)		96,375		2,043,150
Switzerland—8.1%
Credit Suisse Group AG (a)		365,848		6,138,727
Ferguson plc		274,221		20,626,744
Glencore plc (a)		3,979,002		19,798,733
Idorsia, Ltd. (a)		54,801		1,319,853
Lonza Group AG (a)		30,469		7,187,295
Nestle S.A.		405,389		32,093,183
				87,164,535
United Kingdom—10.2%
BAE Systems plc		907,751		7,414,925
Coca-Cola European Partners plc		405,175		16,879,590
ConvaTec Group plc (144A)		3,804,283		10,644,678
Experian plc		411,820		8,896,119
HSBC Holdings plc		677,726		6,335,289
Liberty Global plc - Class A (a)		223,974		7,012,626
Liberty Global plc - Class C (a)		420,949		12,809,478
London Stock Exchange Group plc		160,770		9,315,632
Prudential plc		763,804		19,093,062
Rentokil Initial plc		1,262,804		4,818,976
Standard Chartered plc (b)		633,897		6,347,435
				109,567,810
United States—6.5%
Amazon.com, Inc. (a)		8,718		12,617,910
Aon plc		142,296		19,968,398
Medtronic plc		338,412		27,147,410

BHFTI-85

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
United States—(Continued)
WABCO Holdings, Inc. (a)		73,133	$	9,790,315
				69,524,033
Total Common Stocks (Cost $816,408,375)				967,833,423
Equity Linked Security—2.6%
United Kingdom—2.6%
Ryanair Holdings plc (HSBC Bank plc), 10/29/18 (a) (c) (Cost $19,872,448)		1,413,645		27,848,100
Preferred Stock—1.6%
Germany—1.6%
Henkel AG & Co. KGaA , (Cost $15,001,415)		126,789		16,672,967
Short-Term Investment—5.3%
Repurchase Agreement—5.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $57,110,353; collateralized by U.S. Treasury Notes with rates ranging from 1.750% - 1.875%, maturity dates ranging from 05/31/22 - 07/31/22, and an aggregate market value of $58,252,861.		57,106,546		57,106,546
Total Short-Term Investments (Cost $57,106,546)				57,106,546
Securities Lending Reinvestments (d)—1.4%
Repurchase Agreements—1.2%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $800,156; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $816,002.		800,000		800,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,400,272; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $1,428,008.		1,400,000		1,400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $700,140; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $714,005.		700,000		700,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $251,193; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $277,678.		250,000		250,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $100,104; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $111,071.		100,000		100,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $769,327; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $784,567.		769,181		769,181
Natixis New York Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $2,500,500; collateralized by U.S. Government Obligations with rates ranging from 0.000% - 8.750%, maturity dates ranging from 08/30/18 - 02/15/45, and an aggregate market value of $2,550,128.		2,500,000		2,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $100,087; collateralized by various Common Stock with an aggregate market value of $111,226.		100,000		100,000
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,006,321; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $3,100,613; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $3,162,000.		3,100,000		3,100,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,501,896; collateralized by various Common Stock with an aggregate market value of $1,667,586.		1,500,000		1,500,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $200,172; collateralized by various Common Stock with an aggregate market value of $222,345.		200,000		200,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $300,182; collateralized by various Common Stock with an aggregate market value of $333,517.		300,000		300,000
				12,719,181

BHFTI-86

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—0.2%
DNB Bank ASA 1.640%, 04/02/18		650,000	$	650,000
DZ Bank AG 1.670%, 04/02/18		650,000		650,000
Nordea Bank New York 1.640%, 04/02/18		650,000		650,000
Svenska Handelsbanken AB 1.640%, 04/02/18		650,000		650,000
				2,600,000
Total Securities Lending Reinvestments (Cost $15,319,181)				15,319,181
Total Investments—101.2% (Cost $923,707,965)				1,084,780,217
Other assets and liabilities (net)—(1.2)%				(13,336,874	)
Net Assets—100.0%			$	1,071,443,343

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $14,515,874 and the collateral received consisted of cash in the amount of $15,319,181. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Security whose performance, including redemption at maturity, is linked to the price of the underlying equity security. The investment is subject to credit risk of the issuing financial institution (HSBC Bank plc) in addition to the market risk of the underlying security.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $25,135,620, which is 2.3% of net assets.

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Insurance		13.7
Banks		13.4
Capital Markets		7.9
Chemicals		5.8
Food Products		4.2
IT Services		4.1
Metals & Mining		4.1
Aerospace & Defense		4.0
Health Care Equipment & Supplies		3.5
Air Freight & Logistics		3.0

Glossary of Abbreviations

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-87

Brighthouse Funds Trust I

Brighthouse/Artisan International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Brazil	$	24,254,773	$	—		$	—	$	24,254,773
Canada		22,819,332		—			—		22,819,332
China		20,817,760		18,505,129			—		39,322,889
Denmark		—		6,514,945			—		6,514,945
France		—		80,707,241			—		80,707,241
Germany		—		264,004,723			—		264,004,723
Hong Kong		—		30,921,040			—		30,921,040
Indonesia		—		7,525,529			—		7,525,529
Italy		—		60,986,975			—		60,986,975
Japan		—		80,785,452			—		80,785,452
Netherlands		—		69,335,240			—		69,335,240
Russia		—		12,355,756			—		12,355,756
Spain		2,043,150		—			—		2,043,150
Switzerland		—		87,164,535			—		87,164,535
United Kingdom		36,701,694		72,866,116			—		109,567,810
United States		69,524,033		—			—		69,524,033
Total Common Stocks		176,160,742		791,672,681			—		967,833,423
Total Equity Linked Security*		—		27,848,100			—		27,848,100
Total Preferred Stock*		—		16,672,967			—		16,672,967
Total Short-Term Investment*		—		57,106,546			—		57,106,546
Total Securities Lending Reinvestments*		—		15,319,181			—		15,319,181
Total Investments	$	176,160,742	$	908,619,475		$	—	$	1,084,780,217
Collateral for Securities Loaned (Liability)	$	—	$	(15,319,181	)	$	—	$	(15,319,181	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $79,017 were due to the application of a systematic fair valuation model factor.

BHFTI-88

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—97.4% of Net Assets

Security Description	Principal Amount*		Value
Advertising—0.5%
J.D. Power & Associates
1st Lien Term Loan, 6.552%, 3M LIBOR + 4.250%, 09/07/23		962,422	$	967,234
Lamar Media Corp.
Term Loan B, 3.563%, 1M LIBOR + 1.750%, 02/16/25		500,000		503,333
Red Ventures LLC
1st Lien Term Loan, 5.877%, 1M LIBOR + 4.000%, 11/08/24		1,144,250		1,156,408
Vestcom Parent Holdings, Inc.
1st Lien Term Loan, 5.880%, 1M LIBOR + 4.000%, 12/19/23		1,783,470		1,796,846
				4,423,821
Aerospace/Defense—1.8%
Accudyne Industries LLC
Term Loan, 5.127%, 1M LIBOR + 3.250%, 08/18/24		671,625		675,875
Flying Fortress, Inc.
Term Loan B, 4.052%, 3M LIBOR + 1.750%, 10/30/22		2,729,167		2,743,544
TransDigm, Inc.
Extended Term Loan F, 4.770%, 1M LIBOR + 2.750%, 06/09/23		5,015,616		5,040,693
Term Loan G, 4.710%, 1M LIBOR + 2.500%, 08/22/24		4,731,744		4,752,772
Wesco Aircraft Hardware Corp.
Term Loan A, 4.880%, 1M LIBOR + 3.000%, 10/04/21		1,433,750		1,431,958
				14,644,842
Auto Components—1.1%
American Axle & Manufacturing, Inc.
Term Loan B, 4.130%, 1M LIBOR + 2.250%, 04/06/24		2,930,375		2,945,941
CS Intermediate Holdco 2 LLC
Term Loan B, 4.302%, 3M LIBOR + 2.000%, 11/02/23		1,293,822		1,302,178
Dayco Products LLC
Term Loan B, 6.984%, 3M LIBOR + 5.000%, 05/19/23		992,500		1,004,286
Federal-Mogul Holdings Corp.
Term Loan C, 5.550%, 1M LIBOR + 3.750%, 04/15/21		3,292,329		3,316,679
Visteon Corp.
Term Loan, 3.833%, 3M LIBOR + 2.000%, 03/24/24		685,417		691,307
				9,260,391
Auto Manufacturers—0.3%
FCA U.S. LLC
Term Loan B, 3.860%, 1M LIBOR + 2.000%, 12/31/18		2,460,873		2,470,101
Auto Parts & Equipment—0.9%
Belron Finance U.S. LLC
Term Loan B, 4.294%, 3M LIBOR + 2.500%, 11/07/24		523,688		527,615
DexKo Global, Inc.
Incremental Term Loan, 4.363%, UNFND + 3.500%, 07/24/24 (b)		1,000,000		1,010,625
Term Loan, 5.802%, 2M LIBOR + 3.500%, 07/24/24		798,000		805,481
Goodyear Tire & Rubber Co. (The)
2nd Lien Term Loan, 3.710%, 3M LIBOR + 2.000%, 03/07/25		2,433,333		2,443,979
Horizon Global Corp.
Term Loan B, 6.377%, 1M LIBOR + 4.500%, 06/30/21		367,009		368,845
TI Group Automotive Systems LLC
Term Loan, 4.377%, 1M LIBOR + 2.500%, 06/30/22		1,356,329		1,365,229
Auto Parts & Equipment—(Continued)
Tower Automotive Holdings USA LLC
Term Loan B, 4.500%, 1M LIBOR + 2.750%, 03/07/24		1,227,323		1,230,391
				7,752,165
Banks—0.1%
Freedom Mortgage Corp.
1st Lien Term Loan, 6.622%, 1M LIBOR + 4.750%, 02/23/22		1,051,804		1,066,267
Beverages—0.3%
Flavors Holdings, Inc.
1st Lien Term Loan, 8.052%, 3M LIBOR + 5.750%, 04/03/20		660,000		600,600
Jacobs Douwe Egberts International B.V.
Term Loan B5, 4.063%, 3M LIBOR + 2.250%, 07/02/22		1,857,207		1,866,493
				2,467,093
Building Materials—1.1%
CPG International, Inc.
Term Loan, 5.593%, 3M LIBOR + 3.750%, 05/03/24		1,929,342		1,950,242
Henry Co. LLC
Term Loan B, 5.877%, 1M LIBOR + 4.000%, 10/05/23		395,997		402,185
Quikrete Holdings, Inc.
1st Lien Term Loan, 4.627%, 1M LIBOR + 2.750%, 11/15/23		4,311,043		4,335,293
Summit Materials Cos. I LLC
Term Loan B, 4.127%, 1M LIBOR + 2.250%,, 11/21/24		1,596,000		1,608,468
Tank Holding Corp.
Term Loan B, 5.194%, 3M LIBOR + 3.500%, 03/17/22		637,704		641,955
				8,938,143
Capital Markets—1.8%
Armor Holding II LLC
1st Lien Term Loan, 6.810%, 3M LIBOR + 4.500%, 06/26/20		2,082,342		2,091,452
Corporate Capital Trust, Inc.
Term Loan B, 5.563%, 3M LIBOR + 3.250%, 05/20/19		1,128,550		1,133,487
Donnelley Financial Solutions, Inc.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 10/02/23		255,000		256,594
Greenhill & Co., Inc.
1st Lien Term Loan, 5.590%, 2M LIBOR + 3.750%, 10/12/22		962,813		971,237
Guggenheim Partners LLC
Term Loan, 4.860%, 1M LIBOR + 2.750%, 07/21/23		5,829,403		5,873,123
NXT Capital, Inc.
Term Loan, 5.380%, 1M LIBOR + 3.500%, 11/22/22		2,420,303		2,459,633
Salient Partners L.P.
Term Loan, 10.322%, 1M LIBOR + 8.500%, 05/19/21		684,000		673,740
Sheridan Investment Partners II L.P.
Term Loan A, 5.490%, 3M LIBOR + 3.500%, 12/16/20		97,856		84,768
Term Loan B, 5.490%, 3M LIBOR + 3.500%, 12/16/20		703,461		609,373
Term Loan M, 5.490%, 3M LIBOR + 3.500%, 12/16/20		36,495		31,614
Virtus Investment Partners, Inc.
Delayed Draw Term Loan, 1.250%, UNFND + 1.250%, 06/03/24 (b)		175,000		176,094
Term Loan, 4.277%, 1M LIBOR + 2.500%, 06/01/24		472,625		475,284
				14,836,399

BHFTI-89

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Chemicals—4.2%
Alpha 3 B.V.
Term Loan B1, 5.302%, 1W LIBOR + 3.000%, 01/31/24		1,518,550	$	1,531,837
Aruba Investments, Inc.
Term Loan B, 5.552%, 3M LIBOR + 3.250%, 02/02/22		293,202		293,564
Ashland, Inc.
Term Loan B, 3.780%, 1M LIBOR + 2.000%, 05/17/24		521,063		525,784
Axalta Coating Systems U.S. Holdings, Inc.
Term Loan, 4.302%, 3M LIBOR + 2.000%, 06/01/24		3,323,500		3,336,309
Emerald Performance Materials LLC
1st Lien Term Loan, 5.377%, 1M LIBOR + 2.750%, 08/01/21		479,988		485,567
Ferro Corp.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 02/14/24		396,000		398,722
Flint Group GmbH
Term Loan C, 4.741%, 3M LIBOR + 3.000%, 09/07/21		136,895		129,366
Flint Group U.S. LLC
1st Lien Term Loan B2, 4.741%, 3M LIBOR + 3.000%, 09/07/21		828,105		782,559
Gemini HDPE LLC
Term Loan B, 4.280%, 3M LIBOR + 2.500%, 08/07/24		1,894,069		1,905,907
GrafTech Finance, Inc.
Term Loan B, 5.240%, 1M LIBOR + 3.500%, 02/12/25		1,800,000		1,802,250
HB Fuller Co.
Term Loan B, 4.072%, 1M LIBOR + 2.250%, 10/20/24		1,915,375		1,927,517
Ineos U.S. Finance LLC
Term Loan B, 3.877%, 1M LIBOR + 2.000%, 03/31/24		3,117,188		3,129,850
Invictus
1st Lien Term Loan, 01/24/25 (c)		475,000		479,379
Kraton Polymers LLC
Term Loan, 4.802%, 1M LIBOR + 2.500%, 03/05/25		733,568		739,414
MacDermid, Inc.
Term Loan B6, 4.877%, 1M LIBOR + 3.000%, 06/07/23		2,781,500		2,804,099
Term Loan B7, 4.377%, 1M LIBOR + 2.500%, 06/07/20		281,213		282,830
Minerals Technologies, Inc.
Term Loan B, 4.190%, 1M LIBOR + 2.250%, 02/14/24		923,558		934,525
Orion Engineered Carbons GmbH
Term Loan B, 4.802%, 3M LIBOR + 2.500%, 07/25/24		461,735		465,054
PolyOne Corp.
Term Loan B3, 3.822%, 1M LIBOR + 2.000%, 11/11/22		955,522		959,851
Prince Minerals, Inc.
1st Lien Term Loan, 03/20/25 (c)		350,000		352,844
Sonneborn LLC
Term Loan, 5.627%, 1M LIBOR + 3.750%, 12/10/20		338,110		340,857
Sonneborn Refined Products B.V.
Term Loan, 5.627%, 1M LIBOR + 3.750%, 12/10/20		59,667		60,151
Spectrum Holdings III Corp.
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 01/31/25		546,000		548,730
Delayed Draw Term Loan, 1.000%, UNFND + 1.000%, 01/31/25 (b)		54,000		54,270
Tata Chemicals North America, Inc.
Term Loan B, 5.063%, 3M LIBOR + 2.750%, 08/07/20		840,404		848,283
Trinseo Materials Operating SCA
Term Loan, 4.377%, 1M LIBOR + 2.500%, 09/06/24		1,292,008		1,300,351
Tronox Blocked Borrower LLC
Term Loan B, 5.302%, 3M LIBOR + 3.000%, 09/22/24		972,563		981,985
Tronox Finance LLC
Term Loan B, 5.302%, 3M LIBOR + 3.000%, 09/22/24		2,244,375		2,266,119
Chemicals—(Continued)
Unifrax Corp.
Term Loan B, 5.802%, 3M LIBOR + 3.500%, 04/04/24		521,069		525,954
Univar, Inc.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 07/01/24		2,780,087		2,801,154
Venator Materials Corp.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 08/08/24		845,750		851,300
Versum Materials, Inc.
Term Loan, 4.302%, 3M LIBOR + 2.000%, 09/29/23		591,000		595,525
				34,441,907
Coal—0.3%
Charah LLC
Term Loan, 8.190%, 3M LIBOR + 6.250%, 10/25/24		613,281		621,714
Murray Energy Corp.
Term Loan B2, 9.552%, 3M LIBOR + 7.250%, 04/16/20		1,892,616		1,613,455
				2,235,169
Commercial Services—4.6%
Acosta Holdco, Inc.
Term Loan, 5.127%, 1M LIBOR + 3.250%, 09/26/21		2,101,963		1,783,164
Albany Molecular Research, Inc.
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 08/30/24		671,625		674,144
Brickman Group, Ltd. LLC
1st Lien Term Loan, 4.850%, 1M LIBOR + 3.000%, 12/18/20		846,461		852,810
Bright Horizons Family Solutions, Inc.
Term Loan B, 3.877%, 1M LIBOR + 2.000%, 11/07/23		955,164		961,730
Cast & Crew Payroll LLC
1st Lien Term Loan B, 5.310%, 3M LIBOR + 3.000%, 09/27/24		968,259		970,680
EAB Global, Inc.
1st Lien Term Loan, 5.484%, 3M LIBOR + 3.750%, 11/15/24		1,425,000		1,432,125
Element Materials Technology Group U.S. Holdings, Inc.
Term Loan B, 5.802%, 3M LIBOR + 3.500%, 06/28/24		349,125		351,525
Garda World Security Corp.
Term Loan, 5.510%, 3M LIBOR + 3.500%, 05/24/24		1,848,836		1,870,560
Hertz Corp. (The)
Term Loan B, 4.630%, 1M LIBOR + 2.750%, 06/30/23		1,001,938		1,003,738
IAP Worldwide Services, Inc.
2nd Lien Term Loan, 8.802%, 3M LIBOR + 6.500%, 07/18/19 (d) (e) (f)		330,319		268,847
Revolver, 1.455%, UNFND + 0.750%, 07/18/18 (b) (d) (e) (f)		248,024		248,272
IPC Corp.
Term Loan B, 6.280%, 3M LIBOR + 4.500%, 08/06/21		880,630		865,219
Jaguar Holding Co. II
Term Loan, 4.600%, 1M LIBOR + 2.500%, 08/18/22		6,613,418		6,643,178
KAR Auction Services, Inc.
Term Loan B4, 4.563%, 3M LIBOR + 2.250%, 03/11/21		2,983,722		3,010,760
LegalZoom.com, Inc.
1st Lien Term Loan, 6.341%, 1M LIBOR + 4.500%, 11/21/24		698,250		704,360
Live Nation Entertainment, Inc.
Term Loan B3, 3.688%, 1M LIBOR + 1.750%, 10/31/23		2,602,415		2,622,475
Merrill Communications LLC
Term Loan, 7.022%, 3M LIBOR + 5.250%, 06/01/22		546,870		553,706

BHFTI-90

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Commercial Services—(Continued)
Monitronics International, Inc.
Term Loan B2, 7.802%, 3M LIBOR + 5.500%, 09/30/22		3,070,187	$	2,995,351
ON Assignment, Inc.
Term Loan B, 02/21/25 (c)		475,000		477,256
Parexel International Corp.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 09/27/24		2,462,625		2,466,319
Ping Identity Corp.
Term Loan B, 5.622%, 1M LIBOR + 3.750%, 01/22/25		875,000		879,375
Prime Security Services Borrower LLC
1st Lien Term Loan, 4.627%, 1M LIBOR + 2.750%, 05/02/22		2,990,602		3,016,976
Prometric Holdings, Inc.
1st Lien Term Loan, 4.770%, 3M LIBOR + 3.000%, 01/29/25		275,000		277,148
Rent-A-Center, Inc.
Term Loan B, 4.880%, 1M LIBOR + 3.000%, 03/19/21		101,933		101,740
ServiceMaster Co.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 11/08/23		2,839,063		2,854,144
SGS Cayman L.P.
Term Loan B, 7.677%, 3M LIBOR + 5.375%, 04/23/21		195,881		188,535
				38,074,137
Commercial Services & Supplies—0.1%
Clean Harbors, Inc.
Term Loan B, 3.877%, 1M LIBOR + 2.000%, 06/27/24		272,938		274,473
LSC Communications, Inc.
Term Loan B, 7.377%, 1M LIBOR + 5.500%, 09/30/22		940,000		949,400
				1,223,873
Computers—1.4%
Avast Software B.V.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 09/30/23		1,830,547		1,843,705
Exact Merger Sub LLC
1st Lien Term Loan, 6.552%, 3M LIBOR + 4.250%, 09/27/24		572,125		578,383
Harland Clarke Holdings Corp.
Term Loan B7, 7.052%, 3M LIBOR + 4.750%, 11/03/23		964,372		974,418
MTS Systems Corp.
Term Loan B, 4.990%, 1M LIBOR + 3.250%, 07/05/23		1,157,893		1,168,025
SkillSoft Corp.
1st Lien Term Loan, 6.627%, 1M LIBOR + 4.750%, 04/28/21		3,884,133		3,766,638
Tempo Acquisition LLC
Term Loan, 4.877%, 1M LIBOR + 3.000%, 05/01/24		818,813		823,418
Western Digital Corp.
Term Loan B3, 3.877%, 1M LIBOR + 2.000%, 04/29/23		2,197,440		2,213,235
				11,367,822
Construction Materials—0.2%
Fairmount Santrol, Inc.
Term Loan B, 8.302%, 3M LIBOR + 6.000%, 11/01/22		1,664,531		1,688,113
Cosmetics/Personal Care—0.3%
Coty, Inc.
Term Loan B, 4.186%, 1M LIBOR + 2.500%, 10/27/22		808,562		806,540
Galleria Co.
Term Loan B, 4.688%, 1M LIBOR + 3.000%, 09/29/23		1,666,625		1,670,792
				2,477,332
Distribution/Wholesale—0.1%
Beacon Roofing Supply, Inc.
Term Loan B, 3.936%, 1M LIBOR + 2.250%, 01/02/25		550,000		553,361
Wastequip LLC
1st Lien Term Loan, 5.322%, 1M LIBOR + 3.500%, 03/13/25		125,000		125,938
				679,299
Distributors—0.4%
American Builders & Contractors Supply Co., Inc.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 10/31/23		3,469,975		3,482,505
PFS Holding Corp.
1st Lien Term Loan, 5.380%, 1M LIBOR + 3.500%, 01/31/21		240,000		162,000
				3,644,505
Diversified Consumer Services—0.3%
Coinamatic Canada, Inc.
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 05/14/22		43,479		43,760
KUEHG Corp.
1st Lien Term Loan, 6.052%, 3M LIBOR + 3.750%, 08/13/22		2,037,999		2,054,876
WASH Multifamily Laundry Systems LLC
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 05/14/22		248,270		249,874
				2,348,510
Diversified Financial Services—4.0%
AlixPartners LLP
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 04/04/24		2,848,855		2,864,880
Altisource Solutions S.a.r.l.
Term Loan B, 5.377%, 1M LIBOR + 3.500%, 12/09/20		420,804		420,103
Aptean, Inc.
1st Lien Term Loan, 6.560%, 3M LIBOR + 4.250%, 12/20/22		2,257,225		2,264,985
Aretec Group, Inc.
2nd Lien Term Loan, 2.000%, 1M LIBOR + 2.000%,, 05/23/21		2,391,102		2,400,068
Term Loan B1, 6.127%, 1M LIBOR + 4.250%, 11/23/20		1,493,702		1,501,171
Citco Funding LLC
Term Loan, 4.877%, 1M LIBOR + 3.000%, 03/31/22		3,040,493		3,069,949
Clipper Acquisitions Corp.
Term Loan B, 4.025%, 3M LIBOR + 2.000%, 12/11/24		1,122,188		1,126,046
Delos Finance S.a.r.l.
Term Loan B, 4.052%, 3M LIBOR + 1.750%, 10/06/23		2,675,000		2,689,712
Ditech Holding Corp.
Term Loan, 7.877%, 1M LIBOR + 6.000%, 06/30/22		3,177,085		3,095,672
Focus Financial Partners LLC
1st Lien Term Loan, 5.052%, 3M LIBOR + 2.750%, 07/03/24		2,589,750		2,604,317
GreenSky Holdings LLC
2018 Term Loan B, 03/29/25 (c)		1,325,000		1,321,688
GTCR Valor Cos., Inc.
Term Loan B1, 5.127%, 1M LIBOR + 3.250%, 06/16/23		1,444,620		1,458,502
Harbourvest Partners LLC
Term Loan B, 4.552%, 3M LIBOR + 2.250%, 02/20/25		1,078,646		1,080,669
Lightstone Generation LLC
Term Loan B, 5.627%, 1M LIBOR + 3.750%, 01/30/24		1,715,593		1,727,254
Term Loan C, 5.627%, 1M LIBOR + 3.750%, 01/30/24		108,935		109,676

BHFTI-91

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
LPL Holdings, Inc.
1st Lien Term Loan B, 4.473%, 3M LIBOR + 2.250%, 09/23/24		1,315,079	$	1,320,011
MIP Delaware LLC
Term Loan B1, 5.302%, 3M LIBOR + 3.000%, 03/09/20		88,652		89,317
NFP Corp.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 01/08/24		2,028,832		2,036,693
PGX Holdings, Inc.
1st Lien Term Loan, 7.130%, 1M LIBOR + 5.250%, 09/29/20		1,444,389		1,401,057
Victory Capital Management, Inc.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 02/07/25		291,597		293,146
Walker & Dunlop, Inc.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 12/11/20		663,789		672,086
				33,547,002
Electric—1.4%
Calpine Construction Finance Co. L.P.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 01/15/25		1,258,666		1,263,723
Calpine Corp.
Term Loan B5, 4.810%, 3M LIBOR + 2.500%, 01/15/24		4,116,161		4,134,170
Term Loan B8, 3.630%, 1M LIBOR + 1.750%, 12/31/19		445,500		446,266
Dayton Power & Light Co. (The)
Term Loan B, 3.880%, 1M LIBOR + 2.000%, 08/24/22		543,125		546,010
Granite Acquisition, Inc.
Term Loan B, 5.195%, 3M LIBOR + 3.500%, 12/19/21		2,418,719		2,455,945
Term Loan C, 5.802%, 3M LIBOR + 3.500%, 12/19/21		109,579		111,265
Invenergy Thermal Operating I LLC
Term Loan B, 7.802%, 3M LIBOR + 5.500%, 10/19/22		389,117		373,553
Longview Power LLC
Term Loan B, 7.780%, 3M LIBOR + 6.000%, 04/13/21		1,239,938		1,032,248
Talen Energy Supply LLC
Term Loan B2, 5.877%, 1M LIBOR + 4.000%, 04/15/24		691,600		681,226
TTM Technologies, Inc.
Term Loan B, 09/27/24 (c)		325,000		326,422
				11,370,828
Electrical Components & Equipment—0.5%
Electrical Components International, Inc.
Term Loan B, 7.052%, 3M LIBOR + 4.750%, 05/28/21		1,277,542		1,286,325
Electro Rent Corp.
1st Lien Term Loan, 6.984%, 3M LIBOR + 5.000%, 01/31/24		1,185,000		1,192,406
Pelican Products, Inc.
Term Loan, 6.127%, 1M LIBOR + 4.250%, 04/11/20		1,537,684		1,545,373
				4,024,104
Electronics—0.8%
EIG Investors Corp.
Term Loan, 5.956%, 3M LIBOR + 4.000%, 02/09/23		4,050,274		4,086,074
EXC Holdings III Corp.
1st Lien Term Loan, 5.161%, 6M LIBOR + 3.500%, 12/02/24		448,875		454,486
Global Appliance, Inc.
Term Loan B, 5.880%, 1M LIBOR + 4.000%, 09/29/24		920,375		935,320
Vantiv LLC
Term Loan B4, 3.777%, 1M LIBOR + 2.000%, 08/09/24		1,175,000		1,182,834
				6,658,714
Energy Equipment & Services—0.2%
EnergySolutions LLC
Term Loan, 6.630%, 1M LIBOR + 4.750%, 05/29/20		1,374,627		1,395,246
Energy-Alternate Sources—0.1%
Green Plains Renewable Energy, Inc.
Term Loan B, 7.380%, 1M LIBOR + 5.500%, 08/18/23		945,250		959,429
Entertainment—1.4%
Amaya Holdings B.V.
Term Loan B, 5.802%, 3M LIBOR + 3.500%, 08/01/21		4,747,577		4,776,955
CDS U.S. Intermediate Holdings, Inc.
1st Lien Term Loan, 6.052%, 3M LIBOR + 3.750%, 07/08/22		1,195,430		1,198,294
Cyan Blue Holdco 3, Ltd.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 08/23/24		272,941		273,169
National CineMedia LLC
Term Loan, 4.630%, 1M LIBOR + 2.750%, 11/26/19		500,000		501,562
SeaWorld Parks & Entertainment, Inc.
Term Loan B5, 5.302%, 3M LIBOR + 3.000%, 03/31/24		2,355,601		2,349,957
Seminole Hard Rock Entertainment, Inc.
Term Loan B, 4.443%, 3M LIBOR + 2.750%, 05/14/20		262,625		264,704
Sesac Holdco II LLC
1st Lien Term Loan, 4.877%, 1M LIBOR + 3.000%, 02/23/24		519,750		520,725
SMG Holdings, Inc.
1st Lien Term Loan, 4.890%, 1M LIBOR + 3.250%, 01/23/25		225,000		227,484
WMG Acquisition Corp.
Term Loan E, 4.127%, 1M LIBOR + 2.250%, 11/01/23		1,795,999		1,805,229
				11,918,079
Environmental Control—0.7%
Advanced Disposal Services, Inc.
Term Loan B3, 3.981%, 1W LIBOR + 2.250%, 11/10/23		3,430,828		3,445,361
Core & Main L.P.
Term Loan B, 5.116%, 6M LIBOR + 3.000%, 08/01/24		723,188		726,916
GFL Environmental, Inc.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 09/29/23		788,000		792,925
Robertshaw U.S. Holding Corp.
1st Lien Term Loan, 5.438%, 1M LIBOR + 3.500%,, 02/19/25		600,000		606,000
Wrangler Buyer Corp.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 09/27/24		498,750		502,387
				6,073,589
Food—3.1%
Agro Merchants NAI Holdings LLC
1st Lien Term Loan B, 6.052%, 3M LIBOR + 3.750%, 12/06/24		349,149		352,641
Albertson’s LLC
Term Loan B4, 4.627%, 1M LIBOR + 2.750%, 08/25/21		1,469,998		1,455,707
Term Loan B5, 5.292%, 3M LIBOR + 3.000%, 12/21/22		1,481,316		1,468,933
Term Loan B6, 4.956%, 3M LIBOR + 3.000%, 06/22/23		4,025,935		3,983,159
Aramark Services, Inc.
Term Loan B1, 3.877%, 1M LIBOR + 2.000%, 03/11/25		872,813		881,177
Blue Buffalo Co., Ltd.
Term Loan B, 3.877%, 1M LIBOR + 2.000%, 05/27/24		942,875		944,643

BHFTI-92

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Food—(Continued)
CH Guenther & Son, Inc.
Term Loan B, 03/22/25 (c)		450,000	$	453,023
Del Monte Foods, Inc.
1st Lien Term Loan, 5.160%, 3M LIBOR + 3.250%, 02/18/21		1,467,618		1,264,598
Dole Food Co., Inc.
Term Loan B, 4.850%, 1M LIBOR + 3.000%, 04/06/24		2,606,484		2,614,832
High Liner Foods, Inc.
Term Loan B, 5.022%, 3M LIBOR + 3.250%, 04/24/21		781,451		769,729
JBS USA LLC
Term Loan B, 4.678%, 3M LIBOR + 2.500%, 10/30/22		5,073,750		5,064,871
Nomad Foods Europe Midco, Ltd.
Term Loan B4, 4.027%, 1M LIBOR + 2.250%, 05/15/24		1,187,552		1,190,274
NPC International, Inc.
1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 04/19/24		1,563,188		1,587,612
Pinnacle Foods Finance LLC
Term Loan B, 3.377%, 1M LIBOR + 1.750%, 02/02/24		410,935		413,357
Post Holdings, Inc.
Incremental Term Loan, 3.880%, 1M LIBOR + 2.000%, 05/24/24		1,563,188		1,568,438
Supervalu, Inc.
Delayed Draw Term Loan, 5.377%, 1M LIBOR + 3.500%, 06/08/24		483,276		480,075
Term Loan B, 5.377%, 1M LIBOR + 3.500%, 06/08/24		805,461		800,124
				25,293,193
Food Products—0.0%
American Seafoods Group LLC
1st Lien Term Loan, 4.650%, 1M LIBOR + 2.750%, 08/21/23		315,521		315,915
Forest Products & Paper—0.1%
Expera Specialty Solutions LLC
Term Loan B, 6.127%, 1M LIBOR + 4.250%, 11/03/23		985,000		1,002,237
Hand/Machine Tools—0.6%
Apex Tool Group LLC
Term Loan B, 5.627%, 1M LIBOR + 3.750%, 02/01/22		2,335,313		2,337,685
Milacron LLC
Amended Term Loan B, 4.377%, 1M LIBOR + 2.500%, 09/28/23		2,577,632		2,588,910
				4,926,595
Health Care Technology—0.1%
Press Ganey Holdings, Inc.
1st Lien Term Loan, 4.877%, 1M LIBOR + 3.000%, 10/21/23		715,938		720,711
Healthcare-Products—3.0%
Argon Medical Devices, Inc.
1st Lien Term Loan B, 6.052%, 3M LIBOR + 3.750%, 01/23/25		850,000		856,375
Avantor, Inc.
1st Lien Term Loan, 5.877%, 1M LIBOR + 4.000%, 11/21/24		2,169,563		2,194,875
Carestream Dental Equiment, Inc.
1st Lien Term Loan, 5.552%, 3M LIBOR + 3.250%, 09/01/24		1,345,744		1,351,631
Healthcare-Products—(Continued)
CHG Healthcare Services, Inc.
1st Lien Term Loan B, 4.772%, 3M LIBOR + 3.000%, 06/07/23		2,456,769		2,480,826
Convatec, Inc.
Term Loan B, 4.552%, 3M LIBOR + 2.250%, 10/31/23		568,505		572,235
CryoLife, Inc.
Term Loan B, 6.302%, 3M LIBOR + 4.000%, 11/14/24		473,813		480,328
DJO Finance LLC
Term Loan, 5.030%, 3M LIBOR + 3.250%, 06/08/20		3,371,917		3,392,641
Greatbatch, Ltd.
1st Lien Term Loan B, 4.990%, 1M LIBOR + 3.250%, 10/27/22		2,921,201		2,948,588
Hanger, Inc.
1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 02/26/25		1,025,000		1,026,281
Kinetic Concepts, Inc.
Term Loan B, 5.552%, 3M LIBOR + 3.250%, 02/02/24		2,530,875		2,545,744
Mallinckrodt International Finance S.A.
Term Loan B, 4.820%, 3M LIBOR + 3.000%, 02/24/25		825,000		827,320
Term Loan B, 5.203%, 3M LIBOR + 2.750%, 09/24/24		3,547,029		3,549,001
Medical Depot Holdings, Inc.
1st Lien Term Loan, 7.802%, 3M LIBOR + 5.500%, 01/03/23		678,125		634,047
New Millennium HoldCo, Inc.
Term Loan, 8.377%, 1M LIBOR + 6.500%, 12/21/20		277,489		95,387
Sotera Health Holdings LLC
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 05/15/22		856,230		859,798
Tecomet, Inc.
Term Loan, 5.280%, 3M LIBOR + 3.500%, 05/01/24		744,375		752,129
				24,567,206
Healthcare-Services—5.4%
Acadia Healthcare Co., Inc.
Term Loan B3, 4.377%, 1M LIBOR + 2.500%, 02/11/22		723,219		731,355
Term Loan B4, 4.377%, 1M LIBOR + 2.500%, 02/16/23		1,461,368		1,475,525
ADMI Corp.
Term Loan B, 5.590%, 3M LIBOR + 3.750%, 04/30/22		953,036		957,404
Alliance Healthcare Services, Inc.
Term Loan B, 6.340%, 1M LIBOR + 4.500%, 10/24/23		770,156		775,932
Ardent Legacy Acquisitions, Inc.
Term Loan B, 7.377%, 1M LIBOR + 5.500%, 08/04/21		477,500		479,888
BioClinica, Inc.
1st Lien Term Loan, 6.000%, 3M LIBOR + 4.250%, 10/20/23		641,875		629,038
Community Health Systems, Inc.
Term Loan G, 4.734%, 3M LIBOR + 2.750%, 12/31/19		2,635,949		2,576,640
Term Loan H, 4.984%, 3M LIBOR + 3.000%, 01/27/21		1,917,719		1,847,270
Concentra, Inc.
1st Lien Term Loan, 4.530%, 3M LIBOR + 2.750%, 06/01/22		776,731		778,915
CPI Holdco LLC
1st Lien Term Loan, 5.802%, 3M LIBOR + 3.500%, 03/21/24		643,502		648,328
DaVita HealthCare Partners, Inc.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 06/24/21		3,080,000		3,111,040
Envision Healthcare Corp.
Term Loan B, 4.880%, 1M LIBOR + 3.000%, 12/01/23		3,826,520		3,850,435
Equian LLC
Term Loan B, 5.154%, 3M LIBOR + 3.250%, 05/20/24		596,497		600,598

BHFTI-93

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
GHX Ultimate Parent Corp.
1st Lien Term Loan, 5.302%, 3M LIBOR + 3.000%, 06/28/24		868,438	$	872,237
INC Research LLC
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 08/01/24		1,405,078		1,411,445
Kindred Healthcare, Inc.
Term Loan, 5.250%, 3M LIBOR + 3.500%, 04/09/21		3,037,326		3,051,043
MPH Acquisition Holdings LLC
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 06/07/23		4,673,264		4,701,014
National Mentor Holdings, Inc.
Term Loan B, 5.302%, 3M LIBOR + 3.000%, 01/31/21		1,035,627		1,041,128
Opal Acquisition, Inc.
Term Loan B, 6.030%, 3M LIBOR + 4.000%, 11/27/20		1,677,844		1,593,952
Ortho-Clinical Diagnostics S.A.
Term Loan B, 5.627%, 1M LIBOR + 3.750%, 06/30/21		3,249,288		3,280,088
PharMerica Corp.
1st Lien Term Loan, 5.211%, 1M LIBOR + 3.500%, 12/06/24		750,000		754,219
Prospect Medical Holdings, Inc.
Term Loan B, 7.188%, 1M LIBOR + 5.500%, 02/22/24		1,125,000		1,127,812
RadNet, Inc.
Term Loan, 5.250%, 3M LIBOR + 3.500%, 06/30/23		1,510,333		1,530,156
Select Medical Corp.
Term Loan B, 4.470%, 3M LIBOR + 2.750%, 03/01/21		1,559,250		1,569,970
Surgery Center Holdings, Inc.
Term Loan B, 5.130%, 1M LIBOR + 3.250%, 09/02/24		920,375		921,094
Team Health Holdings, Inc.
1st Lien Term Loan, 4.627%, 1M LIBOR + 2.750%, 02/06/24		1,930,500		1,853,280
U.S. Anesthesia Partners, Inc.
Term Loan, 4.877%, 1M LIBOR + 3.000%, 06/23/24		1,912,183		1,924,134
Wink Holdco, Inc.
1st Lien Term Loan B, 4.664%, 1M LIBOR + 3.000%, 12/02/24		423,938		423,010
				44,516,950
Hotels, Restaurants & Leisure—1.2%
1011778 B.C. Unlimited Liability Co.
Term Loan B3, 4.294%, 1M LIBOR + 2.250%, 02/16/24		6,648,674		6,663,913
Aristocrat Leisure, Ltd.
Incremental Term Loan, 3.745%, 3M LIBOR + 2.000%, 10/19/24		1,147,125		1,154,295
Eldorado Resorts LLC
Term Loan B, 4.130%, 2M LIBOR + 2.250%, 04/17/24		775,297		778,689
GVC Holdings plc
Term Loan, 03/15/24 (c)		1,025,000		1,026,601
				9,623,498
Household Products/Wares—0.9%
CFSP Acquisition Corp.
1st Lien Term Loan, 4.822%, 3M LIBOR + 3.000%, 03/21/25		203,988		203,988
Delayed Draw Term Loan, 03/06/25 (b) (c)		46,012		46,012
KIK Custom Products, Inc.
Term Loan B, 5.875%, 1M LIBOR + 4.000%, 05/15/23		1,402,096		1,417,723
Libbey Glass, Inc.
Term Loan B, 4.718%, 1M LIBOR + 3.000%, 04/09/21		392,216		387,803
Prestige Brands, Inc.
Term Loan B4, 3.877%, 1M LIBOR + 2.000%, 01/26/24		500,251		502,127
Household Products/Wares—(Continued)
Spectrum Brands, Inc.
Term Loan B, 3.860%, 2M LIBOR + 2.000%, 06/23/22		1,915,788		1,925,248
Spin Holdco, Inc.
Term Loan B, 5.083%, 3M LIBOR + 3.250%, 11/14/22		3,043,360		3,064,916
				7,547,817
Industrial Conglomerates—0.3%
IG Investment Holdings LLC
1st Lien Term Loan, 5.802%, 3M LIBOR + 3.500%, 10/29/21		2,338,381		2,366,149
Insurance—3.8%
Alliant Holdings I, Inc.
Term Loan B, 5.127%, 1M LIBOR + 3.250%, 08/12/22		2,338,989		2,355,881
AmWINS Group, Inc.
Term Loan B, 4.590%, 1M LIBOR + 2.750%, 01/25/24		3,247,920		3,269,639
Asurion LLC
2nd Lien Term Loan, 7.877%, 1M LIBOR + 6.000%, 08/04/25		1,500,000		1,544,062
Term Loan B4, 4.627%, 1M LIBOR + 2.750%, 08/04/22		4,873,384		4,907,395
Term Loan B6, 4.627%, 1M LIBOR + 2.750%, 11/03/23		2,921,444		2,944,398
Camelot UK Holdco, Ltd.
Term Loan, 5.127%, 1M LIBOR + 3.250%, 10/03/23		2,001,465		2,016,118
Cunningham Lindsey U.S., Inc.
1st Lien Term Loan, 6.052%, 3M LIBOR + 3.750%, 12/10/19		1,289,343		1,288,537
Hub International, Ltd.
Term Loan B, 4.840%, 3M LIBOR + 3.000%, 10/02/20		3,762,337		3,785,852
Sedgwick Claims Management Services, Inc.
1st Lien Term Loan, 03/01/21 (c)		1,050,000		1,050,525
UFC Holdings LLC
1st Lien Term Loan, 5.130%, 1M LIBOR + 3.250%, 08/18/23		1,975,000		1,988,270
USI, Inc.
Term Loan, 5.302%, 3M LIBOR + 3.000%, 05/16/24		2,686,500		2,697,918
VF Holding Corp.
Reprice Term Loan, 5.127%, 1M LIBOR + 3.250%, 06/30/23		3,725,818		3,760,748
				31,609,343
Internet—3.1%
Ancestry.com Operations, Inc.
1st Lien Term Loan, 5.130%, 1M LIBOR + 3.250%, 10/19/23		2,807,816		2,824,489
Ascend Learning LLC
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 07/12/24		1,393,000		1,398,949
Getty Images, Inc.
Term Loan B, 5.802%, 3M LIBOR + 3.500%, 10/18/19		3,365,427		3,231,510
Go Daddy Operating Co. LLC
Term Loan, 4.127%, 1M LIBOR + 2.250%, 02/15/24		5,081,060		5,100,821
Match Group, Inc.
Term Loan B, 4.286%, 1M LIBOR + 2.500%, 11/16/22		481,250		484,859
Shutterfly, Inc.
Term Loan B2, 08/17/24 (c)		525,000		528,938
SurveyMonkey, Inc.
Term Loan, 6.810%, 3M LIBOR + 4.500%, 04/13/24		1,588,000		1,591,970
Tibco Software, Inc.
Term Loan B, 5.380%, 1M LIBOR + 3.500%, 12/04/20		3,313,972		3,330,127

BHFTI-94

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Internet—(Continued)
Uber Technologies
Term Loan, 07/22/25 (c)		1,425,000	$	1,435,687
Term Loan B, 5.877%, 1M LIBOR + 4.000%, 07/13/23		4,411,587		4,435,300
Vivid Seats, Ltd.
1st Lien Term Loan, 5.148%, 1M LIBOR + 3.500%, 06/30/24		967,688		970,712
				25,333,362
Internet Software & Services—0.6%
Answers Finance LLC
2nd Lien Term Loan, 9.000%, PRIME + 7.900%, 09/15/21		149,891		146,893
Extreme Reach, Inc.
1st Lien Term Loan, 8.130%, 1M LIBOR + 6.250%, 02/07/20		2,264,638		2,266,053
Sutherland Global Services, Inc.
Term Loan B, 7.677%, 3M LIBOR + 5.375%, 04/23/21		841,494		809,938
Travelport Finance (Luxembourg) S.a.r.l.
Term Loan B, 4.401%, 3M LIBOR + 2.500%, 03/17/25		1,875,000		1,880,860
				5,103,744
Investment Company Securities—0.5%
EIG Management Co. LLC
Term Loan B, 5.654%, 3M LIBOR + 3.750%, 01/30/25		250,000		252,813
FinCo I LLC
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 12/27/22		1,095,150		1,109,113
LSF9 Atlantis Holdings LLC
Term Loan, 7.686%, 1M LIBOR + 6.000%, 05/01/23		2,018,351		1,995,645
TKC Holdings, Inc.
1st Lien Term Loan, 6.030%, 3M LIBOR + 4.250%, 02/01/23		965,250		976,109
				4,333,680
Iron/Steel—0.1%
Phoenix Services International LLC
Term Loan, 5.414%, 1M LIBOR + 3.750%, 03/01/25		850,000		855,313
IT Services—0.0%
Global Payments, Inc.
Term Loan B3, 3.627%, 1M LIBOR + 1.750%, 04/21/23		332,327		333,721
Leisure Products—0.7%
Bombardier Recreational Products, Inc.
Term Loan B, 4.380%, 1M LIBOR + 2.500%, 06/30/23		4,284,777		4,325,483
Sabre GLBL, Inc.
Term Loan B, 3.877%, 1M LIBOR + 2.000%, 02/22/24		928,883		932,863
Steinway Musical Instruments, Inc.
Term Loan B, 5.536%, 1M LIBOR + 3.750%, 02/13/25		825,000		832,219
				6,090,565
Leisure Time—0.7%
ClubCorp Club Operations, Inc.
Term Loan B, 5.552%, 3M LIBOR + 3.250%, 09/18/24		1,664,756		1,677,539
Delta 2 (LUX) S.a.r.l.
Term Loan, 4.377%, 1M LIBOR + 2.500%, 02/01/24		2,243,230		2,251,175
Hayward Industries, Inc.
1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 08/05/24		422,875		425,254
Leisure Time—(Continued)
SRAM LLC
Incremental Term Loan, 5.131%, 2M LIBOR + 3.250%, 03/15/24		1,387,748		1,391,218
				5,745,186
Lodging—2.0%
Boyd Gaming Corp.
Term Loan B3, 4.236%, 1W LIBOR + 2.500%, 09/15/23		896,092		902,013
CityCenter Holdings LLC
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 04/18/24		1,885,750		1,896,504
Crown Finance U.S., Inc.
Term Loan, 4.377%, 1M LIBOR + 2.500%, 02/28/25		1,950,000		1,949,879
Cypress Intermediate Holdings III, Inc.
1st Lien Term Loan, 4.880%, 1M LIBOR + 3.000%, 04/27/24		1,215,813		1,221,005
Four Seasons Hotels, Ltd.
1st Lien Term Loan, 3.877%, 1M LIBOR + 2.000%, 11/30/23		888,750		894,067
Hilton Worldwide Finance LLC
Term Loan B2, 3.872%, 1M LIBOR + 2.000%, 10/25/23		4,298,372		4,326,702
MGM Growth Properties Operating Partnership L.P.
Term Loan B, 04/25/23 (c)		1,862,000		1,868,750
Playa Resorts Holding B.V.
Term Loan B, 5.000%, 3M LIBOR + 3.250%, 04/29/24		2,062,117		2,078,098
Tropicana Entertainment, Inc.
Term Loan, 4.877%, 1M LIBOR + 3.000%, 11/27/20		184,000		185,495
Wyndham Hotels & Resorts, Inc.
Term Loan B, 1M LIBOR + 1.750%, 03/28/25		1,200,000		1,200,000
				16,522,513
Machinery—0.7%
Allison Transmission, Inc.
Term Loan B3, 3.600%, 1M LIBOR + 1.750%, 09/23/22		1,009,552		1,016,582
CPM Holdings, Inc.
Term Loan B, 5.377%, 1M LIBOR + 3.500%, 04/11/22		1,249,096		1,267,637
Delachaux S.A.
Term Loan B2, 5.802%, 3M LIBOR + 3.500%, 10/28/21		384,799		386,724
Dynacast International LLC
Term Loan B, 5.552%, 3M LIBOR + 3.250%, 01/28/22		1,199,378		1,208,373
Global Brass & Copper, Inc.
Term Loan B, 5.188%, 1M LIBOR + 3.250%, 07/18/23		812,625		820,751
Paladin Brands Holding, Inc.
Term Loan B, 7.802%, 3M LIBOR + 5.500%, 08/15/22		1,173,128		1,187,792
				5,887,859
Machinery-Diversified—1.4%
Clark Equipment Co.
Term Loan B, 4.302%, 3M LIBOR + 2.000%, 05/18/24		1,945,757		1,949,406
Engineered Machinery Holdings, Inc.
1st Lien Term Loan, 5.552%, 3M LIBOR + 3.250%, 07/19/24 (c)		1,172,063		1,174,260
EWT Holdings III Corp.
Term Loan, 5.302%, 3M LIBOR + 3.000%, 12/20/24		3,475,737		3,505,065
Gardner Denver, Inc.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 07/30/24		1,218,875		1,226,409

BHFTI-95

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Machinery-Diversified—(Continued)
Pro Mach Group, Inc.
Term Loan B, 5.035%, 3M LIBOR + 3.000%, 03/07/25		225,000	$	225,623
Titan Acquisition, Ltd.
Term Loan B, 1M LIBOR + 3.500%, 03/15/25		2,775,000		2,772,616
Welbilt, Inc.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 03/03/23		835,897		843,385
				11,696,764
Marine—0.2%
Stena International S.a.r.l.
Term Loan B, 5.310%, 3M LIBOR + 3.000%, 03/03/21		1,632,000		1,566,720
Media—5.9%
ALM Media Holdings, Inc.
1st Lien Term Loan, 6.802%, 3M LIBOR + 4.500%, 07/31/20		387,813		333,519
AMC Entertainment, Inc.
Term Loan, 4.027%, 1M LIBOR + 2.250%, 12/15/22		2,052,750		2,060,265
Term Loan B, 4.027%, 1M LIBOR + 2.250%, 12/15/23		519,750		521,455
CBS Radio, Inc.
Term Loan B, 4.623%, 3M LIBOR + 2.750%, 11/17/24		1,949,312		1,959,667
Charter Communications Operating LLC
Term Loan B, 3.880%, 1M LIBOR + 2.000%, 04/30/25		3,416,438		3,432,666
Crossmark Holdings, Inc.
1st Lien Term Loan, 5.802%, 3M LIBOR + 3.500%, 12/20/19		1,399,824		696,412
CSC Holdings LLC
Term Loan B, 4.277%, 1M LIBOR + 2.500%, 01/25/26		1,200,000		1,201,687
Cumulus Media Holdings, Inc.
Term Loan, 4.900%, 1M LIBOR + 3.250%, 12/23/20		4,197,113		3,593,778
Entravision Communications Corp.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 11/29/24		1,019,875		1,021,787
EW Scripps Co. (The)
Term Loan B, 6.000%, PRIME + 1.250%, 10/02/24		348,250		349,991
Global Eagle Entertainment, Inc.
1st Lien Term Loan, 9.358%, 6M LIBOR + 7.500%, 01/06/23		1,096,875		1,146,234
Gray Television, Inc.
Term Loan B, 3.920%, 1M LIBOR + 2.250%, 02/07/24		1,565,386		1,574,029
Hubbard Radio LLC
Term Loan B, 05/27/22 (c)		657,500		662,740
iHeartCommunications, Inc.
Extended Term Loan E, 9.702%, 3M LIBOR + 7.500%, 07/30/19		425,533		339,134
Term Loan D, 8.420%, 3M LIBOR + 6.750%, 01/30/19		1,323,104		1,057,656
Information Resources, Inc.
1st Lien Term Loan, 6.194%, 3M LIBOR + 4.250%, 01/18/24		1,782,000		1,797,871
Kasima LLC
Term Loan B, 4.730%, 3M LIBOR + 2.500%, 05/17/21		244,485		246,217
Mediacom Illinois LLC
Term Loan K, 3.490%, 1W LIBOR + 2.250%, 02/15/24		460,830		463,134
Mission Broadcasting, Inc.
Term Loan B2, 4.164%, 1M LIBOR + 2.500%, 01/17/24		290,889		292,198
Nexstar Broadcasting, Inc.
Term Loan B2, 4.164%, 1M LIBOR + 2.500%, 01/17/24		2,259,498		2,269,666
Numericable Group S.A.
Term Loan B11, 4.522%, 3M LIBOR + 2.750%, 07/31/25		1,786,500		1,735,138
Media—(Continued)
ProQuest LLC
Term Loan B, 5.627%, 1M LIBOR + 3.750%, 10/24/21		1,632,375		1,657,881
Raycom TV Broadcasting LLC
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 08/23/24		1,019,875		1,022,425
Sinclair Television Group, Inc.
Term Loan B, 12/12/24 (c)		2,850,000		2,868,155
Term Loan B2, 4.130%, 1M LIBOR + 2.250%, 01/03/24		2,108,176		2,119,596
Unitymedia Finance LLC
Term Loan D, 4.027%, 1M LIBOR + 2.250%, 01/15/26		925,000		924,856
Univision Communications, Inc.
Term Loan C5, 4.627%, 1M LIBOR + 2.750%, 03/15/24		7,340,908		7,236,528
Ziggo Secured Finance Partnership
Term Loan E, 4.277%, 1M LIBOR + 2.500%, 04/15/25		6,475,000		6,436,551
				49,021,236
Metal Fabricate/Hardware—1.3%
Ameriforge Group, Inc.
Term Loan, 10.302%, PIK + 1.000%, 06/08/22 (d) (e) (f)		762,074		826,773
Atkore International, Inc.
1st Lien Term Loan, 5.060%, 3M LIBOR + 2.750%, 12/22/23		1,371,563		1,382,363
Penn Engineering & Manufacturing Corp.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 06/27/24		248,125		249,366
Rexnord LLC
Term Loan B, 4.111%, 1M LIBOR + 2.250%, 08/21/24		2,928,863		2,948,542
WireCo WorldGroup, Inc.
1st Lien Term Loan, 7.484%, 3M LIBOR + 5.500%, 09/30/23		566,375		574,694
Zekelman Industries, Inc.
Term Loan B, 4.999%, 3M LIBOR + 2.750%, 06/14/21		4,871,240		4,903,512
				10,885,250
Mining—0.1%
Neenah Foundry Co.
Term Loan, 8.414%, 2M LIBOR + 6.500%, 12/13/22		765,313		783,489
New Day Aluminum LLC
First Out Term Loan, 4.000%, PIK + 6.000%, 10/28/20 (d) (e) (f)		29,874		17,924
Noranda Aluminum Acquisition Corp.
Term Loan B, 6.517%, 1M LIBOR + 4.500%, 02/28/19 (d) (e) (f) (g)		446,119		38,545
				839,958
Miscellaneous Manufacturing—1.0%
CeramTec Group GmbH
Term Loan B, 11/29/24 (c)		1,100,000		1,097,250
Filtration Group Corp.
1st Lien Term Loan, 5.312%, 1M LIBOR + 3.000%, 11/21/20		1,525,000		1,521,188
Gates Global LLC
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 04/01/24		3,837,499		3,863,644
Werner FinCo L.P.
Term Loan, 5.882%, 1M LIBOR + 4.000%, 07/24/24		1,397,438		1,414,905
				7,896,987

BHFTI-96

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Multi-Utilities—0.1%
Lonestar Generation LLC
Term Loan B, 6.010%, 3M LIBOR + 4.250%, 02/22/21		530,676	$	527,360
Office/Business Equipment—0.6%
Brand Energy & Infrastructure Services, Inc.
Term Loan, 6.000%, 3M LIBOR + 4.250%, 06/21/24		496,250		500,937
CDW LLC
Term Loan B, 4.302%, 3M LIBOR + 2.000%, 08/17/23		4,143,886		4,160,938
				4,661,875
Oil & Gas—1.8%
Apro LLC
Term Loan B, 5.690%, 1M LIBOR + 4.000%, 08/08/24		244,167		245,693
BCP Raptor LLC
Term Loan B, 6.039%, 2M LIBOR + 4.250%, 06/24/24		669,938		675,213
Bronco Midstream Funding LLC
Term Loan B, 5.873%, 3M LIBOR + 4.000%, 08/15/20		1,929,359		1,954,682
Citgo Petroleum Corp.
Term Loan B, 5.195%, 3M LIBOR + 3.500%, 07/29/21		2,398,200		2,404,195
Delek U.S. Holdings, Inc.
1st Lien Term Loan, 03/13/25 (c)		350,000		351,750
Emerald Expositions Holding, Inc.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 05/22/24		1,066,938		1,078,274
Fieldwood Energy LLC
1st Lien Last Out Term Loan, 9.109%, 1M LIBOR + 7.125%, 09/30/20		297,370		281,386
1st Lien Term Loan, 4.752%, 1M LIBOR + 2.875%, 09/28/18		1,051,437		1,050,123
1st Lien Term Loan, 8.877%, 1M LIBOR + 7.000%, 08/31/20		225,000		225,281
2nd Lien Term Loan, 9.437%, 1M LIBOR + 7.125%, 09/30/20		377,630		76,156
Delayed Draw Term Loan, 1.000%, UNFND + 1.000%, 08/14/18 (b)		21,716		21,824
Medallion Midland Acquisition LLC
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 10/30/24		598,500		599,996
MEG Energy Corp.
Term Loan B, 5.810%, 3M LIBOR + 3.500%, 12/31/23		1,038,218		1,040,407
Oxbow Carbon LLC
1st Lien Term Loan B, 5.627%, 1M LIBOR + 3.750%, 01/04/23		617,188		625,674
Paragon Offshore Finance Co.
Term Loan B, 5.109%, 1M LIBOR + 2.750%, 07/18/21 (d) (e) (f)		6,866		0
PSC Industrial Holdings Corp.
1st Lien Term Loan, 6.036%, 1M LIBOR + 4.250%, 10/03/24		1,670,813		1,687,521
Sheridan Production Partners I LLC
Term Loan B2, 5.530%, 3M LIBOR + 3.500%, 10/01/19		1,046,505		887,785
Term Loan B2 I-A, 5.530%, 3M LIBOR + 3.500%, 10/01/19		138,671		117,639
Term Loan B2 I-M, 5.530%, 3M LIBOR + 3.500%, 10/01/19		84,701		71,854
Southcross Energy Partners L.P.
1st Lien Term Loan, 6.552%, 3M LIBOR + 4.250%, 08/04/21		480,370		474,065
Ultra Resources, Inc.
1st Lien Term Loan, 4.765%, 1M LIBOR + 3.000%, 04/12/24		1,375,000		1,366,406
				15,235,924
Oil & Gas Services—0.0%
Thermon Industries, Inc.
Term Loan B, 5.414%, 1M LIBOR + 3.750%, 10/24/24		315,000		317,756
Packaging & Containers—2.9%
Berry Global, Inc.
Term Loan Q, 3.820%, 1M LIBOR + 2.000%, 10/01/22		818,346		822,629
BWAY Holding Co.
Term Loan B, 4.960%, 3M LIBOR + 3.250%, 04/03/24		1,935,375		1,947,270
Consolidated Container Co. LLC
1st Lien Term Loan, 4.877%, 1M LIBOR + 3.000%, 05/22/24		870,630		877,160
Crown Holdings, Inc.
Term Loan B, 01/29/25 (c)		600,000		605,947
Flex Acquisition Co., Inc.
1st Lien Term Loan, 4.695%, 3M LIBOR + 3.000%, 12/29/23		4,693,294		4,721,163
Multi Color Corp.
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 10/31/24		324,188		326,315
Reynolds Group Holdings, Inc.
Term Loan, 4.627%, 1M LIBOR + 2.750%, 02/05/23		8,506,847		8,560,014
Ring Container Technologies Group LLC
1st Lien Term Loan, 4.627%, 1M LIBOR + 2.750%, 10/31/24		673,313		676,258
SIG Combibloc U.S. Acquisition, Inc.
Term Loan, 4.627%, 1M LIBOR + 2.750%, 03/13/22		2,918,807		2,939,134
Signode Industrial Group U.S., Inc.
Term Loan B, 5.420%, PRIME + 1.750%, 05/04/21		960,938		959,712
Tekni-Plex, Inc.
Delayed Draw Term Loan, 10/05/24 (b) (c)		114,286		114,857
Term Loan, 10/17/24 (c)		185,714		186,604
Term Loan B1, 5.127%, 10/17/24		1,271,813		1,277,377
				24,014,440
Pharmaceuticals—4.4%
Akorn, Inc.
Term Loan B, 6.188%, 1M LIBOR + 4.250%, 04/16/21		895,627		891,989
Alkermes, Inc.
Term Loan B, 03/23/23 (c)		356,203		358,429
Amneal Pharmaceuticals LLC
Term Loan, 5.377%, 1M LIBOR + 3.500%, 11/01/19		4,387,413		4,399,733
Arbor Pharmaceuticals, Inc.
Term Loan B, 6.994%, 2M LIBOR + 5.000%, 07/05/23		2,508,553		2,549,318
Auris Luxembourg III S.a.r.l.
Term Loan B7, 5.302%, 3M LIBOR + 3.000%, 01/17/22		1,709,875		1,721,630
Change Healthcare Holdings, Inc.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 03/01/24		7,227,000		7,252,598
Diplomat Pharmacy, Inc.
Term Loan B, 6.380%, 1M LIBOR + 4.500%, 12/20/24		446,875		451,065
Endo Luxembourg Finance Co. I S.a.r.l.
Term Loan B, 6.188%, 1M LIBOR + 4.250%, 04/29/24		5,987,294		5,994,029
Genoa a QoL Healthcare Co. LLC
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 10/28/23		566,407		570,655
Grifols Worldwide Operations USA, Inc.
Term Loan, 3.986%, 1W LIBOR + 2.250%, 01/31/25		3,217,500		3,232,079
HLF Financing S.a.r.l.
Term Loan B, 7.377%, 1M LIBOR + 5.500%, 02/15/23		1,341,250		1,357,177
Horizon Pharma, Inc.
1st Lien Term Loan, 5.125%, 1M LIBOR + 3.250%, 03/29/24		1,659,332		1,671,431

BHFTI-97

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Indivior Finance S.a.r.l.
Term Loan B, 6.420%, 3M LIBOR + 4.500%, 12/18/22		2,319,188	$	2,330,783
Valeant Pharmaceuticals International, Inc.
Term Loan B, 5.240%, 1M LIBOR + 3.500%, 04/01/22		3,591,287		3,633,711
				36,414,627
Professional Services—0.5%
Realogy Corp.
Term Loan B, 3.961%, 1M LIBOR + 2.250%, 02/08/25		2,554,568		2,573,408
Trans Union LLC
Term Loan B3, 3.877%, 1M LIBOR + 2.000%, 04/10/23		1,477,254		1,483,213
				4,056,621
Real Estate—1.1%
DTZ U.S. Borrower LLC
1st Lien Term Loan, 5.180%, 3M LIBOR + 3.250%, 11/04/21		4,778,329		4,759,416
RE/MAX International, Inc.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 12/15/23		1,895,683		1,906,299
RHP Hotel Properties L.P.
Term Loan B, 4.070%, 3M LIBOR + 2.250%, 05/11/24		2,286,481		2,303,916
				8,969,631
Real Estate Investment Trusts—0.8%
ESH Hospitality, Inc.
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 08/30/23		1,529,248		1,540,000
Iron Mountain, Inc.
Term Loan B, 3.622%, 1M LIBOR + 1.750%, 03/23/26		825,000		825,344
Quality Care Properties, Inc.
1st Lien Term Loan, 7.127%, 1M LIBOR + 5.250%, 10/31/22		2,493,438		2,524,605
VICI Properties 1 LLC
Replacement Term Loan B, 3.854%, 1M LIBOR + 2.000%, 12/20/24		2,052,273		2,061,537
				6,951,486
Retail—3.9%
Alphabet Holding Co., Inc.
1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 09/26/24		2,238,750		2,087,634
Ascena Retail Group, Inc.
Term Loan B, 6.438%, 1M LIBOR + 4.500%, 08/21/22		2,514,923		2,238,282
Bass Pro Group LLC
Term Loan B, 6.877%, 1M LIBOR + 5.000%, 09/25/24		1,218,875		1,208,667
BJ’s Wholesale Club, Inc.
1st Lien Term Loan, 5.191%, 1M LIBOR + 3.500%, 02/03/24		918,063		918,480
David’s Bridal, Inc.
Term Loan B, 6.310%, 3M LIBOR + 4.000%, 10/11/19		1,579,607		1,359,647
Evergreen Acqco 1 L.P.
Term Loan, 5.495%, 3M LIBOR + 3.750%, 07/09/19		1,442,066		1,390,241
Golden Nugget, Inc.
Incremental Term Loan, 4.980%, 2M LIBOR + 3.250%, 10/04/23		3,661,346		3,696,817
Harbor Freight Tools USA, Inc.
Term Loan B, 4.377%, 1M LIBOR + 2.500%, 08/18/23		423,938		425,027
Retail—(Continued)
IRB Holding Corp.
1st Lien Term Loan, 4.936%, 1M LIBOR + 3.250%, 02/05/25		800,000		809,167
J. Crew Group, Inc.
Term Loan B, 5.100%, 3M LIBOR + 3.000%, 03/05/21 (d) (e) (f)		3,123,332		2,009,864
Men’s Wearhouse, Inc. (The)
Term Loan B, 5.202%, 1M LIBOR + 3.500%, 06/18/21		809,209		812,370
Michaels Stores, Inc.
Term Loan B1, 4.590%, 1M LIBOR + 2.750%, 01/30/23		680,316		684,378
Neiman Marcus Group, Ltd. LLC
Term Loan, 4.941%, 1M LIBOR + 3.250%, 10/25/20		1,969,523		1,706,714
Party City Holdings, Inc.
Term Loan B, 4.490%, 3M LIBOR + 2.750%, 08/19/22		1,172,025		1,178,048
PetSmart, Inc.
Term Loan B2, 4.680%, 1M LIBOR + 3.000%, 03/11/22		3,401,737		2,738,398
Pier 1 Imports (U.S.), Inc.
Term Loan B, 5.953%, 6M LIBOR + 3.500%, 04/30/21		1,477,535		1,407,352
Pizza Hut Holdings LLC
1st Lien Term Loan B, 3.808%, 1M LIBOR + 2.000%, 06/16/23		960,424		964,325
Sage Automotive Interiors, Inc.
1st Lien Term Loan, 6.877%, 1M LIBOR + 5.000%, 10/27/22		691,250		699,027
Serta Simmons Bedding LLC
1st Lien Term Loan, 5.220%, 3M LIBOR + 3.500%, 11/08/23		4,207,500		3,847,233
Toys “R” Us Property Co. I LLC
Term Loan B, 6.920%, 1M LIBOR + 5.000%, 08/21/19		3,008,521		2,508,354
				32,690,025
Semiconductors—0.8%
Bright Bidco B.V.
Term Loan B, 5.730%, 3M LIBOR + 3.500%, 06/30/24		1,761,688		1,789,948
Cypress Semiconductor Corp.
Term Loan B, 4.110%, 1M LIBOR + 2.250%, 07/05/21		994,375		1,001,336
Entegris, Inc.
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 04/30/21		124,231		124,813
Lattice Semiconductor Corp.
Term Loan, 5.952%, 3M LIBOR + 4.250%, 03/10/21		1,813,649		1,831,786
M/A-COM Technology Solutions Holdings, Inc.
Add on Term Loan, 4.127%, 1M LIBOR + 2.250%, 05/17/24		1,150,262		1,136,123
Microsemi Corp.
1st Lien Term Loan B, 3.742%, 2M LIBOR + 2.000%, 01/15/23		346,710		347,732
				6,231,738
Software—7.9%
Almonde, Inc.
1st Lien Term Loan, 5.484%, 3M LIBOR + 3.500%, 06/13/24		2,462,625		2,463,480
Applied Systems, Inc.
1st Lien Term Loan, 5.552%, 3M LIBOR + 3.250%, 09/19/24		3,510,866		3,542,682
Barracuda Networks, Inc.
1st Lien Term Loan, 5.061%, 3M LIBOR + 3.250%, 02/12/25		350,000		351,914
Campaign Monitor Finance Pty, Ltd.
1st Lien Term Loan, 7.552%, 3M LIBOR + 5.250%, 03/18/21 (d) (e) (f)		703,776		705,465

BHFTI-98

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Principal Amount*		Value
Software—(Continued)
DigiCert, Inc.
Term Loan B1, 6.522%, 3M LIBOR + 4.750%, 10/31/24		1,900,000	$	1,924,463
Epicor Software Corp.
1st Lien Term Loan, 5.130%, 1M LIBOR + 3.250%, 06/01/22		199,487		200,596
Eze Castle Software, Inc.
1st Lien Term Loan, 5.037%, 1M LIBOR + 3.000%, 04/06/20		2,552,178		2,575,573
First Data Corp.
Term Loan, 4.122%, 1M LIBOR + 2.250%, 07/08/22		2,405,003		2,411,165
Term Loan, 4.122%, 1M LIBOR + 2.250%, 04/26/24		1,845,862		1,850,957
Flexera Software LLC
1st Lien Term Loan, 5.130%, 1M LIBOR + 3.250%, 02/26/25		225,000		226,266
Hyland Software, Inc.
1st Lien Term Loan, 5.127%, 1M LIBOR + 3.250%, 07/01/22		3,460,233		3,506,731
Infoblox, Inc.
1st Lien Term Loan, 6.377%, 1M LIBOR + 4.500%, 11/07/23		1,529,484		1,552,903
Infor (U.S.), Inc.
Term Loan B6, 4.627%, 1M LIBOR + 2.750%, 02/01/22		7,726,073		7,755,046
Informatica Corp.
Term Loan, 5.127%, 1M LIBOR + 3.250%, 08/05/22		4,010,965		4,038,540
ION Trading Technologies S.a.r.l.
Term Loan B, 5.052%, 3M LIBOR + 2.750%, 11/30/24		2,194,500		2,178,041
Kronos, Inc.
Term Loan B, 4.880%, 3M LIBOR + 3.000%, 11/01/23		5,519,355		5,556,958
MA FinanceCo. LLC
Term Loan B2, 4.377%, 1M LIBOR + 2.500%, 11/19/21		1,901,085		1,888,610
Term Loan B3, 4.627%, 1M LIBOR + 2.750%, 06/21/24		457,873		453,485
Mitel Networks Corp.
1st Lien Term Loan B, 5.627%, 1M LIBOR + 3.750%, 09/25/23		422,875		426,575
Navicure, Inc.
1st Lien Term Loan B, 5.627%, 1M LIBOR + 3.750%, 11/01/24		598,500		602,241
Quintiles IMS, Inc.
Term Loan B, 4.302%, 3M LIBOR + 2.000%, 03/07/24		1,798,028		1,809,266
Term Loan B2, 4.302%, 3M LIBOR + 2.000%, 01/17/25		1,044,750		1,051,062
Renaissance Learning, Inc.
1st Lien Term Loan, 6.052%, 3M LIBOR + 3.750%, 04/09/21		1,725,312		1,735,375
Rocket Software, Inc.
1st Lien Term Loan, 6.552%, 3M LIBOR + 4.250%, 10/14/23		1,108,125		1,115,051
Seattle Spinco, Inc.
Term Loan B3, 4.627%, 1M LIBOR + 2.750%, 06/21/24		3,092,127		3,092,900
SolarWinds Holdings, Inc.
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 02/21/24		1,047,375		1,053,331
Solera LLC
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 03/03/23		773,028		775,746
SS&C Technologies Holdings Europe S.a.r.l.
Term Loan B4, 02/28/25 (c)		973,735		979,897
SS&C Technologies, Inc.
Term Loan B1, 4.127%, 1M LIBOR + 2.250%, 07/08/22		1,391,077		1,400,392
Term Loan B2, 4.127%, 1M LIBOR + 2.250%, 07/08/22		15,848		15,954
Term Loan B3, 02/28/25 (c)		2,776,265		2,793,833
Syncsort, Inc.
Term Loan B, 7.302%, 3M LIBOR + 5.000%, 08/09/24		1,393,000		1,399,094
Veritas Bermuda, Ltd.
Term Loan B, 6.802%, 3M LIBOR + 4.500%, 01/27/23		2,186,851		2,180,358
Software—(Continued)
Wall Street Systems Delaware, Inc.
Term Loan B, 5.302%, 3M LIBOR + 3.000%, 11/21/24		1,720,688		1,724,272
				65,338,222
Telecommunications—5.2%
CenturyLink, Inc.
Term Loan B, 4.627%, 1M LIBOR + 2.750%, 01/31/25		4,837,875		4,769,845
Colorado Buyer, Inc.
Term Loan B, 4.780%, 3M LIBOR + 3.000%, 05/01/24		1,513,563		1,517,189
CommScope, Inc.
Term Loan B5, 3.877%, 1M LIBOR + 2.000%, 12/29/22		673,550		678,097
Consolidated Communications, Inc.
Term Loan B, 4.880%, 1M LIBOR + 3.000%, 10/04/23		1,015,613		1,002,791
CPI International, Inc.
1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 07/26/24		621,875		624,984
CSC Holdings LLC
1st Lien Term Loan, 4.036%, 1M LIBOR + 2.250%, 07/17/25		2,442,480		2,443,091
Digicel International Finance, Ltd.
Term Loan B, 5.020%, 3M LIBOR + 3.250%, 05/28/24		1,517,376		1,512,634
Frontier Communications Corp.
Term Loan B1, 5.630%, 1M LIBOR + 3.750%, 06/15/24		1,811,313		1,790,935
Intelsat Jackson Holdings S.A.
Term Loan B4, 6.456%, 3M LIBOR + 4.500%, 01/14/24		1,600,000		1,652,667
Level 3 Financing, Inc.
Term Loan B, 4.111%, 1M LIBOR + 2.250%, 02/22/24		2,550,000		2,556,574
MCC Iowa LLC
Term Loan M, 3.740%, 1W LIBOR + 2.000%, 01/15/25		905,077		909,178
Onvoy LLC
1st Lien Term Loan B, 6.802%, 3M LIBOR + 4.500%, 02/10/24		866,746		838,577
Radiate Holdco LLC
1st Lien Term Loan, 4.877%, 1M LIBOR + 3.000%, 02/01/24		1,790,416		1,782,472
Sprint Communications, Inc.
1st Lien Term Loan B, 4.438%, 1M LIBOR + 2.500%, 02/02/24		3,267,000		3,271,593
Switch, Ltd.
Term Loan B, 4.127%, 1M LIBOR + 2.250%, 06/27/24		223,313		224,883
Syniverse Holdings, Inc.
1st Lien Term Loan, 6.718%, 3M LIBOR + 5.000%, 03/09/23		950,000		962,617
Telenet Financing USD LLC
Term Loan AL, 4.277%, 1M LIBOR + 2.500%, 03/01/26		2,100,000		2,112,749
Telesat Canada
Term Loan B4, 5.310%, 3M LIBOR + 3.000%, 11/17/23		4,460,605		4,486,624
UPC Financing Partnership
Term Loan AR, 4.277%, 1M LIBOR + 2.500%, 01/15/26		2,300,000		2,309,858
Virgin Media Bristol LLC
Term Loan, 4.277%, 1M LIBOR + 2.500%, 01/15/26		6,450,000		6,490,313
West Corp.
Term Loan, 5.877%, 1M LIBOR + 4.000%, 10/10/24		1,047,375		1,056,757
Term Loan B1, 10/10/24 (c)		300,000		303,000
				43,297,428
Thrifts & Mortgage Finance—0.0%
Ocwen Financial Corp.
Term Loan B, 6.786%, 1M LIBOR + 5.000%, 12/05/20		329,174		332,878

BHFTI-99

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (a)—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—0.1%
DXP Enterprises, Inc.
Term Loan B, 7.377%, 1M LIBOR + 5.500%, 08/29/23		472,625	$	474,693
Solenis International L.P.
1st Lien Term Loan, 5.234%, 3M LIBOR + 3.250%, 07/31/21		289,500		289,246
				763,939
Transportation—0.6%
Hanjin International Corp.
Term Loan B, 4.234%, 3M LIBOR + 2.500%, 09/20/20		475,000		477,969
Kenan Advantage Group, Inc.
Term Loan, 4.877%, 1M LIBOR + 3.000%, 07/31/22		572,565		575,786
Term Loan B, 4.877%, 1M LIBOR + 3.000%, 07/31/22		175,237		176,223
PODS LLC
Term Loan B3, 4.711%, 1M LIBOR + 3.000%, 12/06/24		597,000		601,726
PQ Corp.
Term Loan B, 4.291%, 3M LIBOR + 2.500%, 02/08/25		2,910,149		2,923,402
XPO Logistics, Inc.
Term Loan B, 3.920%, 3M LIBOR + 2.000%, 02/24/25		575,000		577,767
				5,332,873
Trucking & Leasing—0.7%
Avolon TLB Borrower 1 (Luxembourg) S.a.r.l.
Term Loan B2, 4.072%, 1M LIBOR + 2.250%, 04/03/22		5,880,563		5,892,406
Wireless Telecommunication Services—0.3%
Go Wireless, Inc.
Term Loan B, 8.377%, 1M LIBOR + 6.500%, 12/22/24		691,250		690,962
SBA Senior Finance II LLC
Term Loan B1, 3.990%, 1W LIBOR + 2.250%, 03/24/21		1,900,937		1,907,556
				2,598,518
Total Floating Rate Loans (Cost $812,824,815)				808,217,099
Common Stocks—0.8%
Capital Markets—0.3%
RCS Capital Corp. (h) (i)		35,138		2,459,678
Commercial Services—0.1%
IAP Worldwide Services LLC (d) (e) (f) (h) (i)		44		479,371
Gas Utilities—0.0%
Southcross Holding GP LLC (d) (e) (f) (h) (i)		59		0
Southcross Holding L.P. - Class A (h) (i)		59		23,600
				23,600
Health Care Providers & Services—0.0%
Millennium Health LLC (h) (i)		31,600		1,580
Hotels, Restaurants & Leisure—0.0%
Caesars Entertainment Corp. (h) (i)		10,000		112,500
Internet Software & Services—0.0%
Answers Corp. (d) (e) (h) (i)		29,070		240,409
Metals & Mining—0.3%
Ameriforge Group, Inc. (d) (e) (h) (i)		48,529		2,887,475
Oil, Gas & Consumable Fuels—0.1%
Paragon Offshore Finance Co. - Class A (d) (h) (i)		1,527		2,100
Paragon Offshore Finance Co. - Class B (d) (h) (i)		764		25,021
Samson Resources II LLC - Class A (h) (i)		19,666		432,652
				459,773
Total Common Stocks (Cost $2,804,139)				6,664,386
Short-Term Investment—3.2%
Repurchase Agreement—3.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $26,367,607; collateralized by a Federal Home Loan Bank at 0.000%, maturing 04/25/18, with a market value of $26,896,068.		26,365,849		26,365,849
Total Short-Term Investments (Cost $26,365,849)				26,365,849
Total Investments—101.4% (Cost $841,994,803)				841,247,334
Unfunded Loan Commitments—(0.1)% (Cost $(1,259,236))				(1,259,236	)
Net Investments—101.3% (Cost $840,735,567)				839,988,098
Other assets and liabilities (net)—(1.3)%				(10,686,202	)
Net Assets—100.0%			$	829,301,896

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(b)	Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to fund these commitments at the borrower’s discretion.
(c)	This loan will settle after March 31, 2018, at which time the interest rate will be determined.

BHFTI-100

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(d)	Illiquid security. As of March 31, 2018, these securities represent 0.9% of net assets.
(e)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent 0.9% of net assets.
(f)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(g)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(h)	Non-income producing security.
(i)	Security was acquired in connection with a restructuring of a senior loan and may be subject to restrictions on resale.
(LIBOR)—	London InterBank Offered Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Floating Rate Loans
Advertising	$	—	$	4,423,821	$	—	$	4,423,821
Aerospace/Defense		—		14,644,842		—		14,644,842
Auto Components		—		9,260,391		—		9,260,391
Auto Manufacturers		—		2,470,101		—		2,470,101
Auto Parts & Equipment (Less Unfunded Loan Commitments of $625,000)		—		7,127,165		—		7,127,165
Banks		—		1,066,267		—		1,066,267
Beverages		—		2,467,093		—		2,467,093
Building Materials		—		8,938,143		—		8,938,143
Capital Markets (Less Unfunded Loan Commitments of $175,000)		—		14,661,399		—		14,661,399
Chemicals (Less Unfunded Loan Commitments of $54,000)		—		34,387,907		—		34,387,907
Coal		—		2,235,169		—		2,235,169
Commercial Services (Less Unfunded Loan Commitments of $223,222)		—		37,557,018		293,897		37,850,915
Commercial Services & Supplies		—		1,223,873		—		1,223,873
Computers		—		11,367,822		—		11,367,822
Construction Materials		—		1,688,113		—		1,688,113
Cosmetics/Personal Care		—		2,477,332		—		2,477,332
Distribution/Wholesale		—		679,299		—		679,299
Distributors		—		3,644,505		—		3,644,505
Diversified Consumer Services		—		2,348,510		—		2,348,510
Diversified Financial Services		—		33,547,002		—		33,547,002
Electric		—		11,370,828		—		11,370,828
Electrical Components & Equipment		—		4,024,104		—		4,024,104
Electronics		—		6,658,714		—		6,658,714
Energy Equipment & Services		—		1,395,246		—		1,395,246
Energy-Alternate Sources		—		959,429		—		959,429
Entertainment		—		11,918,079		—		11,918,079
Environmental Control		—		6,073,589		—		6,073,589
Food		—		25,293,193		—		25,293,193
Food Products		—		315,915		—		315,915
Forest Products & Paper		—		1,002,237		—		1,002,237
Hand/Machine Tools		—		4,926,595		—		4,926,595
Health Care Technology		—		720,711		—		720,711

BHFTI-101

Brighthouse Funds Trust I

Brighthouse/Eaton Vance Floating Rate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2		Level 3		Total
Healthcare-Products	$	—	$	24,567,206	$	—	$	24,567,206
Healthcare-Services		—		44,516,950		—		44,516,950
Hotels, Restaurants & Leisure		—		9,623,498		—		9,623,498
Household Products/Wares (Less Unfunded Loan Commitments of $46,012)		—		7,501,805		—		7,501,805
Industrial Conglomerates		—		2,366,149		—		2,366,149
Insurance		—		31,609,343		—		31,609,343
Internet		—		25,333,362		—		25,333,362
Internet Software & Services		—		5,103,744		—		5,103,744
Investment Company Securities		—		4,333,680		—		4,333,680
Iron/Steel		—		855,313		—		855,313
IT Services		—		333,721		—		333,721
Leisure Products		—		6,090,565		—		6,090,565
Leisure Time		—		5,745,186		—		5,745,186
Lodging		—		16,522,513		—		16,522,513
Machinery		—		5,887,859		—		5,887,859
Machinery-Diversified		—		11,696,764		—		11,696,764
Marine		—		1,566,720		—		1,566,720
Media		—		49,021,236		—		49,021,236
Metal Fabricate/Hardware		—		10,058,477		826,773		10,885,250
Mining		—		783,489		56,469		839,958
Miscellaneous Manufacturing		—		7,896,987		—		7,896,987
Multi-Utilities		—		527,360		—		527,360
Office/Business Equipment		—		4,661,875		—		4,661,875
Oil & Gas (Less Unfunded Loan Commitments of $21,716)		—		15,214,208		—		15,214,208
Oil & Gas Services		—		317,756		—		317,756
Packaging & Containers (Less Unfunded Loan Commitments of $114,286)		—		23,900,154		—		23,900,154
Pharmaceuticals		—		36,414,627		—		36,414,627
Professional Services		—		4,056,621		—		4,056,621
Real Estate		—		8,969,631		—		8,969,631
Real Estate Investment Trusts		—		6,951,486		—		6,951,486
Retail		—		30,680,161		2,009,864		32,690,025
Semiconductors		—		6,231,738		—		6,231,738
Software		—		64,632,757		705,465		65,338,222
Telecommunications		—		43,297,428		—		43,297,428
Thrifts & Mortgage Finance		—		332,878		—		332,878
Trading Companies & Distributors		—		763,939		—		763,939
Transportation		—		5,332,873		—		5,332,873
Trucking & Leasing		—		5,892,406		—		5,892,406
Wireless Telecommunication Services		—		2,598,518		—		2,598,518
Total Floating Rate Loans (Less Unfunded Loan Commitments)		—		803,065,395		3,892,468		806,957,863
Common Stocks
Capital Markets		—		2,459,678		—		2,459,678
Commercial Services		—		—		479,371		479,371
Gas Utilities		—		23,600		—		23,600
Health Care Providers & Services		—		1,580		—		1,580
Hotels, Restaurants & Leisure		112,500		—		—		112,500
Internet Software & Services		—		—		240,409		240,409
Metals & Mining		—		—		2,887,475		2,887,475
Oil, Gas & Consumable Fuels		—		459,773		—		459,773
Total Common Stocks		112,500		2,944,631		3,607,255		6,664,386
Total Short-Term Investment*		—		26,365,849		—		26,365,849
Total Net Investments	$	112,500	$	832,375,875	$	7,499,723	$	839,988,098

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended March 31, 2018 is not presented.

Transfers from Level 2 to Level 3 in the amount of $2,440,274 were due to trading halts on the securities’ respective exchanges which resulted in the lack of observable inputs.

BHFTI-102

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—37.1% of Net Assets

Security Description	Principal Amount*		Value
Aerospace/Defense—0.2%
Lockheed Martin Corp. 1.850%, 11/23/18		1,600,000	$	1,593,327
Agriculture—0.6%
Imperial Brands Finance plc 2.950%, 07/21/20 (144A)		3,100,000		3,077,783
Reynolds American, Inc. 2.300%, 06/12/18		3,200,000		3,198,374
				6,276,157
Auto Parts & Equipment—0.4%
Aptiv plc 3.150%, 11/19/20		4,500,000		4,491,770
Banks—12.9%
ANZ New Zealand International, Ltd. 2.850%, 08/06/20 (144A)		4,600,000		4,568,773
Banca Monte dei Paschi di Siena S.p.A. 2.875%, 04/16/59 (EUR)		4,100,000		5,445,147
Banco Popular Espanol S.A. 1.000%, 03/03/22 (EUR)		1,100,000		1,394,071
Bank of America Corp. 2.151%, 11/09/20		2,700,000		2,646,757
2.600%, 01/15/19		361,000		361,355
2.650%, 04/01/19		1,500,000		1,499,222
2.762%, 3M LIBOR + 1.040%, 01/15/19 (a)		6,600,000		6,644,847
3.004%, 3M LIBOR + 0.790%, 12/20/23 (144A) (a)		2,155,000		2,113,748
3.550%, 03/05/24 (a)		3,700,000		3,715,291
Bank of New York Mellon Corp. (The) 2.755%, 3M LIBOR + 0.870%, 08/17/20 (a)		3,900,000		3,951,976
BB&T Corp. 2.050%, 06/19/18		1,000,000		999,052
Capital One Financial Corp. 2.500%, 05/12/20		1,700,000		1,673,430
3.050%, 03/09/22		5,400,000		5,295,628
Citigroup, Inc. 2.400%, 02/18/20		4,600,000		4,549,921
2.474%, 3M LIBOR + 0.770%, 04/08/19 (a)		1,600,000		1,605,087
Deutsche Bank AG 3.195%, 3M LIBOR + 1.310%, 08/20/20 (a)		3,700,000		3,734,711
Dexia Credit Local S.A. 2.375%, 09/20/22 (144A)		2,000,000		1,950,195
Goldman Sachs Group, Inc. (The) 3.325%, 3M LIBOR + 1.200%, 09/15/20 (a)		11,400,000		11,579,995
HSBC Holdings plc 3.400%, 03/08/21		1,500,000		1,506,958
HSBC USA, Inc. 2.000%, 08/07/18		4,600,000		4,590,903
Industrial & Commercial Bank of China, Ltd. 2.957%, 11/08/22 (b)		3,800,000		3,707,732
3.231%, 11/13/19		2,700,000		2,699,887
ING Bank NV 2.998%, 3M LIBOR + 0.690%, 10/01/19 (144A) (a) (b)		6,300,000		6,344,642
Intesa Sanpaolo S.p.A. 3.875%, 01/15/19		6,100,000		6,139,741
Banks—(Continued)
JPMorgan Chase & Co. 1.850%, 03/22/19		6,500,000		6,449,037
2.200%, 10/22/19 (b)		4,000,000		3,961,119
2.400%, 06/07/21 (b)		1,100,000		1,073,729
Morgan Stanley 2.800%, 06/16/20 (b)		2,700,000		2,681,834
2.900%, 3M LIBOR + 1.140%, 01/27/20 (a)		7,900,000		7,998,181
Norddeutsche Landesbank Girozentrale 2.000%, 02/05/19 (144A)		4,000,000		3,983,532
Regions Financial Corp. 2.000%, 05/15/18		3,200,000		3,196,855
Royal Bank of Canada 2.100%, 10/14/20		3,700,000		3,635,165
Standard Chartered plc 3.885%, 3M LIBOR + 1.08%, 03/15/24 (144A) (a)		3,100,000		3,079,757
Toronto-Dominion Bank (The) 2.250%, 03/15/21 (144A)		4,000,000		3,928,404
Wells Fargo & Co. 2.500%, 03/04/21		1,100,000		1,080,015
2.625%, 3M LIBOR + 0.880%, 07/22/20 (a)		4,500,000		4,541,482
Westpac Banking Corp. 2.250%, 11/09/20 (144A)		3,700,000		3,646,045
Woori Bank 4.750%, 04/30/24 (144A)		2,400,000		2,449,644
				140,423,868
Beverages—0.5%
Anheuser-Busch InBev Finance, Inc. 2.650%, 02/01/21 (b)		3,400,000		3,373,371
Coca-Cola Femsa S.A.B. de C.V. 2.375%, 11/26/18 (b)		1,528,000		1,526,243
				4,899,614
Biotechnology—1.7%
Amgen, Inc. 2.504%, 3M LIBOR + 0.600%, 05/22/19 (a)		4,500,000		4,521,870
Baxalta, Inc. 2.000%, 06/22/18		1,400,000		1,397,908
2.875%, 06/23/20 (b)		3,300,000		3,276,797
Biogen, Inc. 2.900%, 09/15/20		4,500,000		4,472,544
Celgene Corp. 2.250%, 08/15/21 (b)		3,800,000		3,675,209
2.750%, 02/15/23		1,500,000		1,439,836
				18,784,164
Chemicals—0.2%
LyondellBasell Industries NV 6.000%, 11/15/21		2,000,000		2,158,980
Computers—0.6%
Dell International LLC / EMC Corp. 3.480%, 06/01/19 (144A)		2,800,000		2,812,665

BHFTI-103

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—(Continued)
Hewlett Packard Enterprise Co. 3.626%, 3M LIBOR + 1.930%, 10/05/18 (a)		3,600,000	$	3,631,741
				6,444,406
Cosmetics/Personal Care—0.3%
Colgate-Palmolive Co. 0.900%, 05/01/18		2,000,000		1,997,337
Procter & Gamble Co. (The) 1.700%, 11/03/21		1,500,000		1,445,183
				3,442,520
Diversified Financial Services—1.3%
Capital One Bank USA N.A. 2.300%, 06/05/19		5,900,000		5,859,513
Navient Corp. 5.500%, 01/15/19 (b)		1,400,000		1,415,400
6.625%, 07/26/21		500,000		519,375
8.000%, 03/25/20		500,000		531,250
Protective Life Global Funding 1.722%, 04/15/19 (144A)		1,900,000		1,880,404
2.262%, 04/08/20 (144A)		3,100,000		3,048,184
Seven & Seven, Ltd. 3.259%, 6M LIBOR + 1.000%, 09/11/19 (144A) (a)		480,000		477,373
Springleaf Finance Corp. 6.000%, 06/01/20 (b)		600,000		619,500
				14,350,999
Electric—2.3%
Calpine Corp. 5.375%, 01/15/23 (b)		6,400,000		6,126,720
Dominion Energy, Inc. 2.500%, 12/01/19		1,900,000		1,877,861
PSEG Power LLC 3.000%, 06/15/21 (b)		3,300,000		3,288,236
Southern Co. (The) 2.350%, 07/01/21		2,800,000		2,713,317
2.450%, 09/01/18		3,000,000		2,996,651
State Grid Overseas Investment, Ltd. 1.750%, 05/22/18 (144A)		1,100,000		1,098,377
2.750%, 05/07/19 (144A)		1,100,000		1,097,703
2.750%, 05/04/22 (144A)		3,800,000		3,700,256
Talen Energy Supply LLC 9.500%, 07/15/22 (144A) (b)		1,600,000		1,552,000
				24,451,121
Food—0.8%
Kraft Heinz Foods Co. 2.000%, 07/02/18		2,400,000		2,397,603
3.500%, 06/06/22 (b)		3,300,000		3,295,205
Kroger Co. (The) 2.600%, 02/01/21		3,200,000		3,149,560
				8,842,368
Healthcare-Products—0.7%
Edwards Lifesciences Corp. 2.875%, 10/15/18		1,400,000		1,400,200
Stryker Corp. 2.000%, 03/08/19		4,400,000		4,370,834
Zimmer Biomet Holdings, Inc. 2.700%, 04/01/20		2,000,000		1,978,286
				7,749,320
Healthcare-Services—0.7%
Anthem, Inc. 2.500%, 11/21/20		1,100,000		1,081,361
CHS/Community Health Systems, Inc. 7.125%, 07/15/20 (b)		500,000		407,500
HCA, Inc. 4.250%, 10/15/19 (b)		1,400,000		1,410,500
Tenet Healthcare Corp. 5.500%, 03/01/19 (b)		4,300,000		4,343,000
7.500%, 01/01/22 (144A) (b)		400,000		421,500
				7,663,861
Home Builders—0.8%
Beazer Homes USA, Inc. 5.750%, 06/15/19 (b)		2,273,000		2,332,666
KB Home 4.750%, 05/15/19 (b)		1,000,000		1,009,600
Lennar Corp. 6.950%, 06/01/18 (b)		5,500,000		5,527,500
				8,869,766
Insurance—2.3%
Jackson National Life Global Funding 2.250%, 04/29/21 (144A)		4,200,000		4,095,031
2.300%, 04/16/19 (144A)		1,500,000		1,494,523
Metropolitan Life Global Funding I 3.875%, 04/11/22 (144A)		1,200,000		1,229,409
New York Life Global Funding 2.100%, 01/02/19 (144A)		4,000,000		3,981,030
2.150%, 06/18/19 (144A)		5,000,000		4,967,077
Nuveen Finance LLC 2.950%, 11/01/19 (144A)		3,100,000		3,093,367
Pricoa Global Funding I 2.550%, 11/24/20 (144A) (b)		3,700,000		3,662,082
Prudential Financial, Inc. 2.619%, 3M LIBOR + 0.780%, 08/15/18 (a)		3,000,000		3,006,762
				25,529,281
Internet—0.9%
Alibaba Group Holding, Ltd. 2.500%, 11/28/19 (b)		4,000,000		3,972,405
Amazon.com, Inc. 2.400%, 02/22/23 (144A)		1,700,000		1,641,685
JD.com, Inc. 3.125%, 04/29/21		2,200,000		2,157,811

BHFTI-104

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Internet—(Continued)
Tencent Holdings, Ltd. 2.985%, 01/19/23 (144A)		1,800,000	$	1,754,178
				9,526,079
Iron/Steel—0.1%
BlueScope Steel Finance, Ltd. / BlueScope Steel Finance USA LLC 6.500%, 05/15/21 (144A)		1,400,000		1,451,758
Lodging—0.4%
Marriott International, Inc. 2.875%, 03/01/21 (b)		4,800,000		4,755,283
Machinery-Diversified—0.2%
CNH Industrial Capital LLC 3.875%, 10/15/21 (b)		2,200,000		2,198,592
Media—1.1%
Altice Financing S.A. 7.500%, 05/15/26 (144A) (b)		800,000		784,000
CSC Holdings LLC 7.625%, 07/15/18		2,500,000		2,543,000
DISH DBS Corp. 5.875%, 07/15/22 (b)		2,100,000		2,008,125
NBCUniversal Enterprise, Inc. 1.974%, 04/15/19 (144A)		3,000,000		2,978,071
Time Warner, Inc. 2.100%, 06/01/19		4,000,000		3,964,008
				12,277,204
Mining—0.5%
FMG Resources August 2006 Pty, Ltd. 4.750%, 05/15/22 (144A) (b)		1,800,000		1,777,500
Glencore Funding LLC 3.000%, 10/27/22 (144A)		3,600,000		3,472,380
				5,249,880
Oil & Gas—1.5%
Anadarko Petroleum Corp. 4.850%, 03/15/21		2,300,000		2,390,246
California Resources Corp. 8.000%, 12/15/22 (144A) (b)		1,016,000		797,560
Devon Energy Corp. 3.250%, 05/15/22		2,500,000		2,469,838
Sanchez Energy Corp. 7.750%, 06/15/21 (b)		1,200,000		1,104,000
Sinopec Group Overseas Development, Ltd. 2.375%, 04/12/20 (144A)		2,000,000		1,968,926
2.500%, 04/28/20 (144A)		3,500,000		3,447,824
Statoil ASA 2.251%, 3M LIBOR + 0.460%, 11/08/18 (a)		3,100,000		3,105,937
Sunoco LP / Sunoco Finance Corp. 4.875%, 01/15/23 (144A) (b)		1,000,000		963,750
				16,248,081
Oil & Gas Services—0.2%
Petrofac, Ltd. 3.400%, 10/10/18 (144A)		1,200,000		1,189,500
Weatherford International, Ltd. 7.750%, 06/15/21 (b)		700,000		652,750
				1,842,250
Packaging & Containers—0.3%
OI European Group B.V. 4.000%, 03/15/23 (144A)		1,800,000		1,714,500
Owens-Brockway Glass Container, Inc. 5.000%, 01/15/22 (144A) (b)		1,400,000		1,413,580
				3,128,080
Pharmaceuticals—0.6%
Allergan Funding SCS 3.450%, 03/15/22 (b)		2,200,000		2,181,191
CVS Health Corp. 3.700%, 03/09/23		2,700,000		2,714,661
Valeant Pharmaceuticals International, Inc. 5.375%, 03/15/20 (144A)		1,700,000		1,709,010
				6,604,862
Pipelines—1.0%
Enable Midstream Partners L.P. 2.400%, 05/15/19		2,200,000		2,176,653
Energy Transfer Equity L.P. 4.250%, 03/15/23 (b)		1,100,000		1,067,000
Enterprise Products Operating LLC 2.550%, 10/15/19		1,600,000		1,590,035
Kinder Morgan, Inc. 3.050%, 12/01/19		2,600,000		2,593,277
Sabine Pass Liquefaction LLC 5.625%, 02/01/21		2,200,000		2,313,081
Williams Partners L.P. 4.125%, 11/15/20		600,000		609,480
				10,349,526
Real Estate Investment Trusts—0.4%
American Tower Corp. 3.400%, 02/15/19		2,200,000		2,207,848
Crown Castle International Corp. 3.150%, 07/15/23		2,600,000		2,518,294
				4,726,142
Retail—0.6%
Dollar General Corp. 1.875%, 04/15/18		2,900,000		2,898,740
KSouth Africa, Ltd. Zero Coupon, 3.000% PIK, 12/31/22 (144A) (c) (d)		622,872		21,738
Zero Coupon, 25.000% PIK, 12/31/22 (144A) (c) (d)		108,685		43,474
Penske Automotive Group, Inc. 3.750%, 08/15/20		2,000,000		2,000,000

BHFTI-105

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Retail—(Continued)
PetSmart, Inc. 7.125%, 03/15/23 (144A)		3,600,000	$	2,043,000
				7,006,952
Semiconductors—0.7%
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.375%, 01/15/20		3,800,000		3,746,979
Maxim Integrated Products, Inc. 2.500%, 11/15/18		4,200,000		4,194,493
				7,941,472
Software—0.5%
Fiserv, Inc. 2.700%, 06/01/20		5,500,000		5,465,063
Telecommunications—1.5%
Intelsat Jackson Holdings S.A. 7.250%, 10/15/20 (b)		500,000		462,500
Juniper Networks, Inc. 3.125%, 02/26/19		4,100,000		4,105,310
Sprint Communications, Inc. 9.000%, 11/15/18 (144A)		260,000		268,125
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		1,575,000		1,565,156
4.738%, 03/20/25 (144A)		2,200,000		2,208,250
T-Mobile USA, Inc. 4.000%, 04/15/22 (b)		500,000		497,500
Telefonica Emisiones S.A.U. 3.192%, 04/27/18		1,800,000		1,800,720
Verizon Communications, Inc. 3.857%, 3M LIBOR + 1.750%, 09/14/18 (a)		5,500,000		5,533,120
				16,440,681
Trucking & Leasing—0.3%
DAE Funding LLC 4.000%, 08/01/20 (144A) (b)		1,800,000		1,755,000
Park Aerospace Holdings, Ltd. 5.250%, 08/15/22 (144A)		1,000,000		979,700
				2,734,700
Total Corporate Bonds & Notes (Cost $410,786,247)				403,918,127
U.S. Treasury & Government Agencies—33.5%
Agency Sponsored Mortgage - Backed—13.4%
Fannie Mae 15 Yr. Pool 4.500%, 09/01/24		558,573		582,261
4.500%, 03/01/25		1,144,268		1,192,992
Fannie Mae ARM Pool 2.676%, 6M LIBOR + 1.176%, 03/01/28 (a)		8,583		8,708
2.733%, 6M LIBOR + 1.175%, 11/01/33 (a)		3,484		3,627
2.777%, 6M LIBOR + 1.166%, 11/01/33 (a)		5,780		5,855
2.925%, 1Y CMT + 1.675%, 11/01/32 (a)		15,531		16,218
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae ARM Pool 2.963%, 1Y CMT + 1.895%, 02/01/25 (a)		61,403		63,065
2.978%, 6M LIBOR + 1.431%, 12/01/32 (a)		253,364		266,433
3.016%, 6M LIBOR + 1.436%, 02/01/36 (a)		55,543		57,291
3.020%, 6M LIBOR + 1.413%, 11/01/34 (a)		5,491		5,651
3.040%, 6M LIBOR + 1.415%, 06/01/32 (a)		9,646		9,660
3.049%, 1Y CMT + 1.861%, 08/01/29 (a)		4,824		4,995
3.086%, 1Y CMT + 2.010%, 06/01/25 (a)		51,216		51,982
3.101%, 6M LIBOR + 1.549%, 12/01/34 (a)		37,339		38,673
3.104%, 1Y CMT + 2.035%, 07/01/35 (a)		46,701		48,526
3.120%, 6M LIBOR + 1.620%, 11/01/32 (a)		47,752		50,340
3.125%, H15 + 2.000%, 05/01/19 (a)		5,836		5,841
3.129%, 1Y CMT + 2.172%, 07/01/33 (a)		27,607		28,522
3.137%, 6M LIBOR + 1.547%, 09/01/35 (a)		19,829		20,501
3.149%, 6M LIBOR + 1.405%, 03/01/35 (a)		35,337		36,368
3.164%, 6M LIBOR + 1.636%, 04/01/36 (a)		57,627		59,906
3.165%, 1Y CMT + 1.998%, 10/01/32 (a)		19,169		20,056
3.175%, 1Y CMT + 2.175%, 06/01/30 (a)		8,891		9,068
3.190%, 1Y CMT + 2.065%, 12/01/25 (a)		10,323		10,366
3.198%, 1Y CMT + 2.198%, 06/01/33 (a)		23,765		24,257
3.200%, 1Y CMT + 1.950%, 05/01/19 (a)		322		322
3.223%, 1Y CMT + 2.229%, 09/01/33 (a)		2,623		2,646
3.230%, 12M LIBOR + 1.480%, 12/01/32 (a)		24,077		25,301
3.234%, 1Y CMT + 2.034%, 10/01/35 (a)		27,500		27,696
3.236%, 6M LIBOR + 1.585%, 03/01/36 (a)		200,592		207,999
3.240%, 1Y CMT + 2.210%, 09/01/37 (a)		27,720		29,085
3.244%, 6M LIBOR + 1.652%, 03/01/37 (a)		11,127		11,551
3.247%, 12M LIBOR + 1.497%, 07/01/33 (a)		43,099		45,414
3.258%, 6M LIBOR + 1.758%, 06/01/28 (a)		2,199		2,291
3.261%, 6M LIBOR + 1.570%, 11/01/35 (a)		125,506		130,009
3.271%, 12M LIBOR + 1.521%, 07/01/33 (a)		33,733		35,124
3.290%, 6M LIBOR + 1.415%, 09/01/32 (a)		13,608		13,883
3.300%, 12M LIBOR + 1.550%, 02/01/44 (a)		29,468		30,289
3.303%, 1Y CMT + 2.178%, 08/01/33 (a)		102,032		106,370
3.305%, 1Y CMT + 2.055%, 01/01/20 (a)		21,082		21,253
3.319%, 1Y CMT + 2.223%, 07/01/35 (a)		30,127		31,856
3.324%, 1Y CMT + 2.202%, 11/01/35 (a)		2,547,092		2,681,607
3.362%, 1Y CMT + 2.081%, 07/01/33 (a)		42,656		44,141
3.364%, 12M LIBOR + 1.646%, 08/01/37 (a)		19,324		20,178
3.365%, 1Y CMT + 2.270%, 08/01/30 (a)		13,714		14,033
3.372%, 1Y CMT + 2.155%, 03/01/30 (a)		1,014		1,061
3.374%, 12M LIBOR + 1.582%, 01/01/36 (a)		58,127		60,591
3.394%, 12M LIBOR + 1.579%, 03/01/33 (a)		49,518		51,585
3.394%, 1Y CMT + 2.245%, 03/01/38 (a)		21,335		22,217
3.395%, 12M LIBOR + 1.645%, 09/01/39 (a)		3,919		4,070
3.405%, 1Y CMT + 2.280%, 07/01/32 (a)		2,891		2,908
3.405%, 12M LIBOR + 1.655%, 08/01/34 (a)		7,195		7,496
3.407%, 12M LIBOR + 1.624%, 05/01/33 (a)		14,760		15,480
3.415%, 1Y CMT + 2.290%, 08/01/32 (a)		48,529		50,524
3.425%, 1Y CMT + 2.300%, 09/01/32 (a)		4,260		4,288
3.436%, 1Y CMT + 1.686%, 03/01/33 (a)		11,611		11,911
3.440%, 1Y CMT + 2.263%, 01/01/32 (a)		6,653		6,884
3.440%, 12M LIBOR + 1.690%, 11/01/35 (a)		26,408		27,676
3.446%, 1Y CMT + 2.121%, 04/01/27 (a)		5,275		5,487
3.450%, 12M LIBOR + 1.700%, 10/01/33 (a)		33,110		34,486
3.458%, 12M LIBOR + 1.708%, 09/01/32 (a)		71,667		71,548

BHFTI-106

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae ARM Pool 3.460%, 12M LIBOR + 1.585%, 02/01/36 (a)		15,401	$	15,952
3.466%, 12M LIBOR + 1.591%, 12/01/32 (a)		9,165		9,506
3.468%, 12M LIBOR + 1.711%, 11/01/36 (a)		2,248		2,342
3.470%, 12M LIBOR + 1.720%, 08/01/35 (a)		748,607		786,601
3.472%, 1Y CMT + 2.270%, 01/01/29 (a)		11,855		12,004
3.486%, 1Y CMT + 2.358%, 07/01/28 (a)		5,913		6,107
3.489%, 12M LIBOR + 1.677%, 11/01/36 (a)		2,249,990		2,360,761
3.491%, 1Y CMT + 2.152%, 12/01/33 (a)		62,284		65,447
3.500%, 12M LIBOR + 1.750%, 04/01/34 (a)		129,201		136,308
3.520%, 1Y CMT + 2.270%, 09/01/30 (a)		40,937		42,414
3.523%, 1Y CMT + 2.207%, 09/01/33 (a)		7,847		8,166
3.525%, 1Y CMT + 2.525%, 05/01/32 (a)		5,699		5,726
3.525%, 12M LIBOR + 1.775%, 04/01/34 (a)		17,821		18,283
3.527%, 1Y CMT + 2.223%, 09/01/36 (a)		1,240		1,305
3.528%, 12M LIBOR + 1.778%, 12/01/35 (a)		130,904		134,086
3.530%, 12M LIBOR + 1.530%, 02/01/33 (a)		36,063		36,307
3.541%, 12M LIBOR + 1.791%, 10/01/36 (a)		6,384		6,695
3.547%, 12M LIBOR + 1.750%, 02/01/36 (a)		10,939		11,475
3.551%, 1Y CMT + 2.360%, 11/01/34 (a)		3,055,935		3,243,952
3.560%, 12M LIBOR + 1.810%, 04/01/35 (a)		502,322		530,684
3.560%, 12M LIBOR + 1.810%, 04/01/40 (a)		6,518		6,799
3.563%, 12M LIBOR + 1.710%, 09/01/35 (a) (b)		3,446,494		3,615,275
3.569%, 12M LIBOR + 1.819%, 09/01/37 (a)		4,041		4,253
3.610%, 12M LIBOR + 1.735%, 05/01/34 (a)		10,205		10,726
3.635%, 1Y CMT + 2.510%, 08/01/35 (a)		6,252		6,402
3.645%, 1Y CMT + 2.270%, 01/01/32 (a)		10,900		10,935
3.699%, 12M LIBOR + 1.905%, 11/01/35 (a)		824,875		870,665
3.708%, 12M LIBOR + 1.833%, 08/01/32 (a)		54,936		55,694
3.712%, 1Y CMT + 2.105%, 07/01/25 (a)		967		986
3.749%, 1Y CMT + 2.285%, 02/01/35 (a)		45,135		47,336
3.750%, 6M LIBOR + 2.250%, 10/01/33 (a)		51,461		52,488
3.750%, 6M LIBOR + 2.250%, 05/01/34 (a)		25,777		26,578
3.752%, 1Y CMT + 2.317%, 04/01/36 (a)		4,185		4,405
3.777%, 12M LIBOR + 1.777%, 03/01/37 (a)		3,928		4,112
3.807%, 12M LIBOR + 1.831%, 03/01/36 (a)		31,374		32,565
3.830%, 12M LIBOR + 1.814%, 03/01/36 (a)		13,273		14,020
3.838%, 12M LIBOR + 1.713%, 02/01/32 (a)		73,438		73,651
3.890%, 12M LIBOR + 1.902%, 03/01/36 (a)		48,392		50,393
3.900%, 6M LIBOR + 2.275%, 08/01/32 (a)		27,618		28,094
3.981%, 6M LIBOR + 2.106%, 09/01/33 (a)		25,992		27,326
3.998%, 6M LIBOR + 2.123%, 08/01/33 (a)		39,253		41,753
4.025%, 1Y CMT + 2.275%, 06/01/35 (a)		47,155		47,530
4.041%, 1Y CMT + 2.791%, 02/01/33 (a)		124,955		127,408
4.200%, 6M LIBOR + 2.325%, 02/01/25 (a)		6,592		6,622
4.879%, 6M LIBOR + 3.254%, 05/01/34 (a)		114,730		117,121
Fannie Mae Connecticut Avenue Securities (CMO) 2.522%, 1M LIBOR + 0.650%, 08/25/30 (a)		4,321,039		4,320,843
4.472%, 1M LIBOR + 2.600%, 05/25/24 (a)		5,720,000		6,095,410
4.772%, 1M LIBOR + 2.900%, 07/25/24 (a)		1,803,853		1,921,990
4.872%, 1M LIBOR + 3.000%, 07/25/24 (a)		6,165,976		6,592,565
5.422%, 1M LIBOR + 3.550%, 07/25/29 (a)		2,980,000		3,235,674
5.872%, 1M LIBOR + 4.000%, 05/25/25 (a)		3,665,271		3,974,864
6.172%, 1M LIBOR + 4.300%, 02/25/25 (a)		4,369,612		4,812,472
6.422%, 1M LIBOR + 4.550%, 02/25/25 (a)		3,880,848		4,212,080
6.772%, 1M LIBOR + 4.900%, 11/25/24 (a)		2,841,138		3,252,709
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Connecticut Avenue Securities (CMO) 6.872%, 1M LIBOR + 5.000%, 11/25/24 (a)		3,079,309		3,462,223
6.872%, 1M LIBOR + 5.000%, 07/25/25 (a)		8,896,864		10,041,802
Freddie Mac Structured Agency Credit Risk Debt Notes (CMO) 2.554%, 1M LIBOR + 0.700%, 09/25/30 (a)		3,358,000		3,358,115
3.222%, 1M LIBOR + 1.350%, 03/25/29 (a)		250,000		254,438
3.722%, 1M LIBOR + 1.850%, 10/25/27 (a)		4,560,000		4,654,577
4.072%, 1M LIBOR + 2.200%, 02/25/24 (a)		692,677		713,144
4.072%, 1M LIBOR + 2.200%, 03/25/25 (a)		460,671		464,142
4.072%, 1M LIBOR + 2.200%, 10/25/28 (a)		2,105,729		2,134,106
4.122%, 1M LIBOR + 2.250%, 11/25/28 (a)		1,769,955		1,813,865
4.372%, 1M LIBOR + 2.500%, 08/25/24 (a)		1,073,860		1,081,371
4.472%, 1M LIBOR + 2.600%, 12/25/27 (a)		3,152,825		3,219,928
4.522%, 1M LIBOR + 2.650%, 03/25/28 (a)		3,733,118		3,809,104
4.622%, 1M LIBOR + 2.750%, 09/25/28 (a)		1,050,000		1,074,278
4.672%, 1M LIBOR + 2.800%, 05/25/28 (a)		3,608,001		3,721,122
4.722%, 1M LIBOR + 2.850%, 04/25/28 (a)		3,428,782		3,554,075
4.772%, 1M LIBOR + 2.900%, 07/25/28 (a)		390,000		400,140
5.122%, 1M LIBOR + 3.250%, 05/25/25 (a)		2,780,000		3,145,063
5.172%, 1M LIBOR + 3.300%, 10/25/27 (a)		3,160,000		3,517,645
5.622%, 1M LIBOR + 3.750%, 09/25/24 (a)		3,290,000		3,801,117
5.672%, 1M LIBOR + 3.800%, 03/25/25 (a)		5,470,000		5,904,650
5.772%, 1M LIBOR + 3.900%, 12/25/27 (a)		7,265,000		8,041,776
5.872%, 1M LIBOR + 4.000%, 08/25/24 (a)		400,623		437,276
5.972%, 1M LIBOR + 4.100%, 08/25/24 (a)		2,100,000		2,346,316
6.022%, 1M LIBOR + 4.150%, 01/25/25 (a)		7,649,807		8,255,368
6.422%, 1M LIBOR + 4.550%, 10/25/24 (a)		4,953,022		5,522,513
6.572%, 1M LIBOR + 4.700%, 03/25/28 (a)		1,000,000		1,146,997
6.622%, 1M LIBOR + 4.750%, 10/25/24 (a)		1,610,674		1,795,863
7.422%, 1M LIBOR + 5.550%, 07/25/28 (a)		900,000		1,092,428
				146,379,729
U.S. Treasury—20.1%
U.S. Treasury Inflation Indexed Notes 0.125%, 04/15/21 (e)		5,646,456		5,598,373
0.125%, 01/15/22 (e)		16,424,100		16,249,425
1.375%, 01/15/20 (e)		11,036,269		11,273,550
1.875%, 07/15/19 (e)		4,712,320		4,838,893
U.S. Treasury Notes 1.625%, 08/31/19		15,000,000		14,875,195
1.750%, 03/31/22		17,000,000		16,519,219
1.875%, 03/31/22		20,000,000		19,521,094
2.000%, 08/31/21 (b)		8,800,000		8,667,656
2.125%, 09/30/21		8,100,000		8,007,293
2.250%, 04/30/21 (b)		9,000,000		8,957,812
2.250%, 07/31/21		28,600,000		28,420,133
3.375%, 11/15/19 (b)		14,000,000		14,249,922
3.500%, 05/15/20		23,000,000		23,554,336
3.625%, 08/15/19 (b)		36,900,000		37,588,992
				218,321,893
Total U.S. Treasury & Government Agencies (Cost $363,517,837)				364,701,622

BHFTI-107

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—15.8%

Security Description	Principal Amount*		Value
Asset-Backed - Credit Card—4.3%
American Express Credit Account Master Trust 2.040%, 05/15/23		6,900,000	$	6,774,562
2.670%, 10/17/22		5,000,000		4,991,795
Capital One Multi-Asset Execution Trust 1.990%, 07/17/23		6,000,000		5,893,726
Chase Issuance Trust 2.057%, 1M LIBOR + 0.280%, 04/15/20 (a)		4,580,000		4,580,292
2.147%, 1M LIBOR + 0.370%, 04/15/21 (a)		5,340,000		5,353,800
Citibank Credit Card Issuance Trust 1.920%, 04/07/22		4,400,000		4,333,149
2.490%, 01/20/23		5,500,000		5,453,110
Discover Card Execution Note Trust 2.207%, 1M LIBOR + 0.430%, 07/15/21 (a)		5,610,000		5,623,652
2.227%, 1M LIBOR + 0.450%, 04/15/21 (a)		4,020,000		4,027,318
				47,031,404
Asset-Backed - Home Equity—0.2%
Argent Securities, Inc. Asset-Backed Pass-Through Certificates 2.232%, 1M LIBOR + 0.360%, 10/25/35 (a)		555,068		556,801
GSAA Home Equity Trust 2.817%, 1M LIBOR + 0.945%, 02/25/35 (a)		1,742,394		1,727,984
Home Loan Trust 5.980%, 06/25/34 (f)		184,186		188,877
RAAC Trust 2.572%, 1M LIBOR + 0.700%, 03/25/34 (a)		294,652		287,803
				2,761,465
Asset-Backed - Other—11.3%
American Homes 4 Rent Trust 3.467%, 04/17/52 (144A)		2,396,598		2,422,762
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates 2.697%, 1M LIBOR + 0.825%, 06/25/34 (a)		722,420		726,215
Atrium X 3.672%, 3M LIBOR + 1.950%, 07/16/25 (144A) (a)		980,000		975,792
Atrium XI 3.895%, 3M LIBOR + 2.150%, 10/23/25 (144A) (a)		3,650,000		3,660,322
Atrium XIII 3.241%, 3M LIBOR + 1.800%, 11/21/30 (144A) (a)		1,000,000		1,004,665
Bain Capital Credit CLO 2018-1 Zero Coupon, 3M LIBOR + 1.150%, 04/23/31 (144A) (a) (g) (h)		2,500,000		2,500,000
Birchwood Park CLO, Ltd. 2.900%, 3M LIBOR + 1.180%, 07/15/26 (144A) (a)		600,000		599,855
BlueMountain Fuji U.S. CLO, Ltd. 3.427%, 3M LIBOR + 1.700%, 01/15/30 (144A) (a)		2,000,000		1,995,860
3.481%, 3M LIBOR + 2.150%, 10/20/30 (144A) (a)		2,000,000		2,021,866
4.095%, 3M LIBOR + 2.350%, 07/20/29 (144A) (a)		600,000		606,200
Carlyle Global Market Strategies CLO, Ltd. 3.195%, 3M LIBOR + 1.450%, 01/20/29 (144A) (a)		1,710,000		1,720,891
Carlyle U.S. CLO, Ltd. 3.530%, 3M LIBOR + 1.800%, 01/20/30 (144A) (a)		1,000,000		997,932
4.095%, 3M LIBOR + 2.350%, 07/20/29 (144A) (a)		500,000		503,218
4.145%, 3M LIBOR + 2.400%, 07/20/31 (144A) (a)		642,000		646,466
Catamaran CLO, Ltd. 4.684%, 3M LIBOR + 2.950%, 10/18/26 (144A) (a)		2,384,800		2,394,265
Asset-Backed - Other—(Continued)
Cent CLO, Ltd. 3.067%, 3M LIBOR + 1.300%, 01/30/25 (144A) (a)		1,970,065		1,970,968
3.204%, 3M LIBOR + 1.410%, 11/07/26 (144A) (a)		1,710,000		1,711,031
4.744%, 3M LIBOR + 2.950%, 11/07/26 (144A) (a)		2,650,000		2,653,509
Centerline REIT, Inc. 4.760%, 1M LIBOR + 4.760%, 09/21/45 (144A) (a)		584,877		589,117
5.040%, 09/21/45 (144A)		1,780,000		1,736,924
Colony American Homes 2.918%, 1M LIBOR + 1.200%, 07/17/32 (144A) (a)		3,909,340		3,921,668
Cook Park CLO Ltd. Zero Coupon, 3M LIBOR + 1.120%, 04/17/30 (144A) (a) (g) (h)		1,500,000		1,500,000
Countrywide Asset-Backed Certificates 2.622%, 1M LIBOR + 0.750%, 03/25/34 (a)		253,659		254,917
2.922%, 1M LIBOR + 1.050%, 12/25/34 (a)		97,291		97,349
Dryden 34 Senior Loan Fund Zero Coupon, 3M LIBOR + 1.160%, 10/15/26 (144A) (a)		900,000		899,724
Dryden 49 Senior Loan Fund 4.084%, 3M LIBOR + 2.350%, 07/18/30 (144A) (a)		380,000		383,591
Dryden 50 Senior Loan Fund 3.970%, 3M LIBOR + 2.250%, 07/15/30 (144A) (a)		500,000		503,495
Dryden 53 CLO, Ltd. 3.105%, 3M LIBOR + 1.400%, 01/15/31 (144A) (a)		1,000,000		999,515
3.405%, 3M LIBOR + 1.700%, 01/15/31 (144A) (a)		1,000,000		997,990
Dryden 64 CLO, Ltd. Zero Coupon, 3M LIBOR + 2.650%, 04/18/31 (144A) (a)		400,000		400,000
Eaton Vance CLO, Ltd. 2.922%, 3M LIBOR + 1.200%, 07/15/26 (144A) (a)		2,592,000		2,590,979
GSAMP Trust 2.877%, 1M LIBOR + 1.005%, 06/25/35 (a)		343,678		345,202
Invitation Homes 2017-SFR2 Trust 2.658%, 1M LIBOR + 0.800%, 12/17/36 (144A) (a)		5,813,320		5,856,058
Invitation Homes Trust 3.050%, 1M LIBOR + 1.300%, 08/17/32 (144A) (a)		4,547,709		4,550,866
3.158%, 1M LIBOR + 1.350%, 06/17/32 (144A) (a)		4,489,876		4,492,983
3.200%, 1M LIBOR + 1.450%, 03/17/32 (144A) (a)		1,489,636		1,490,741
LCM, Ltd. 3.726%, 3M LIBOR + 1.800%, 01/20/31 (144A) (a)		1,000,000		1,002,576
Long Point Park CLO, Ltd. 3.386%, 3M LIBOR + 1.700%, 01/17/30 (144A) (a)		1,000,000		997,910
Madison Park Funding, Ltd. 3.460%, 3M LIBOR + 1.700%, 07/27/30 (144A) (a)		1,600,000		1,611,830
4.110%, 3M LIBOR + 2.350%, 07/27/30 (144A) (a)		500,000		502,624
Mill City Mortgage Loan Trust 2017-3 2.750%, 01/25/61 (144A) (a)		3,977,859		3,931,331
Morgan Stanley ABS Capital I, Inc. Trust 2.607%, 1M LIBOR + 0.735%, 01/25/35 (a)		195,017		194,774
Neuberger Berman CLO, Ltd. 3.322%, 3M LIBOR + 1.600%, 01/15/28 (144A) (a)		1,000,000		997,991
Neuberger Berman Loan Advisers CLO 27, Ltd. 3.717%, 3M LIBOR + 1.700%, 01/15/30 (144A) (a)		1,000,000		997,967
Octagon Investment Partners 18-R, Ltd. Zero Coupon, 3M LIBOR + 2.700%, 04/16/31 (144A) (a)		400,000		400,000
Octagon Investment Partners 35, Ltd. 2.848%, 3M LIBOR + 1.100%, 01/20/31 (144A) (a)		600,000		600,214

BHFTI-108

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Octagon Investment Partners LLC 4.145%, 3M LIBOR + 2.400%, 07/20/30 (144A) (a)		126,643	$	127,524
Octagon Investment Partners, Ltd. 2.941%, 3M LIBOR + 1.130%, 08/12/26 (144A) (a)		800,000		800,038
3.142%, 3M LIBOR + 1.420%, 07/15/27 (144A) (a)		3,645,114		3,645,697
Progress Residential Trust 2.740%, 06/12/32 (144A)		413,119		409,432
Structured Asset Investment Loan Trust 2.912%, 1M LIBOR + 1.040%, 12/25/34 (a)		118,676		118,778
TCI-Cent CLO, Ltd. 4.095%, 3M LIBOR + 2.350%, 07/25/30 (144A) (a)		254,559		256,373
TCI-Flatiron CLO, Ltd. 3.477%, 3M LIBOR + 1.850%, 11/17/30 (144A) (a)		500,000		498,974
Towd Point Mortgage Trust 2.250%, 04/25/56 (144A) (a)		5,412,194		5,325,485
2.250%, 07/25/56 (144A) (a)		7,368,729		7,218,701
2.472%, 1M LIBOR + 0.600%, 02/25/57 (144A) (a)		1,976,624		1,983,726
2.500%, 10/25/56 (144A) (a)		2,467,605		2,432,044
2.750%, 10/25/56 (144A) (a)		6,728,683		6,653,100
2.750%, 04/25/57 (144A) (a)		7,198,624		7,145,341
2.750%, 06/25/57 (144A) (a)		5,306,018		5,228,992
3.000%, 03/25/54 (144A) (a)		785,314		783,053
Towd Point Mortgage Trust 2015-1 3.000%, 01/25/58 (144A) (a)		1,434,440		1,426,600
3.750%, 11/25/57 (144A) (a)		475,008		479,499
Towd Point Mortgage Trust 2015-3 3.500%, 03/25/54 (144A) (a)		1,598,093		1,604,555
Voya CLO, Ltd. Zero Coupon, 3M LIBOR + 1.070%, 04/25/31 (144A) (a)		800,000		800,000
4.095%, 3M LIBOR + 2.350%, 07/20/30 (144A) (a)		221,301		223,300
West CLO, Ltd. 3.084%, 3M LIBOR + 1.350%, 07/18/26 (144A) (a)		1,230,000		1,228,781
3.584%, 3M LIBOR + 1.850%, 07/18/26 (144A) (a)		2,170,000		2,165,732
				122,515,878
Total Asset-Backed Securities (Cost $172,542,799)				172,308,747
Floating Rate Loans (i)—6.4%
Aerospace/Defense—0.1%
FGI Operating Co. LLC Term Loan, 6.127%, 1M LIBOR + 4.250%, 04/19/19		3,621,209		1,086,363
Airlines—0.0%
Air Canada 2018 Term Loan B, 3.984%, 3M LIBOR + 2.000%, 10/06/23		32,868		33,060
Auto Manufacturers—0.1%
Navistar International Corp. 1st Lien Term Loan B, 5.210%, 1M LIBOR + 3.500%, 11/06/24		846,911		854,057
Auto Parts & Equipment—0.0%
TI Group Automotive Systems LLC Term Loan, 4.377%, 1M LIBOR + 2.500%, 06/30/22		78,023		78,535
Chemicals—0.3%
Ashland, Inc. Term Loan B, 3.785%, 1M LIBOR + 2.000%, 05/17/24		2,660,070		2,684,176
Chemours Company (The) Term Loan B, 6.250%, PRIME + 1.500%, 05/12/22		443,602		444,249
				3,128,425
Coal—0.1%
Bowie Resource Holdings LLC 1st Lien Term Loan, 7.627%, 1M LIBOR + 5.750%, 08/14/20 (l)		1,236,203		1,219,205
2nd Lien Delayed Draw Term Loan, 12.627%, 1M LIBOR + 10.750%, 02/16/21 (l)		371,429		358,429
				1,577,634
Commercial Services—0.5%
Avis Budget Car Rental, LLC 2018 Term Loan B, 4.310%, 3M LIBOR + 2.000%, 02/13/25		1,182,997		1,186,509
Hertz Corp. (The) Term Loan B, 4.630%, 1M LIBOR + 2.750%, 06/30/23		1,674,307		1,677,316
Live Nation Entertainment, Inc. Term Loan B3, 3.688%, 1M LIBOR + 1.750%, 10/31/23		359,093		361,861
Onsite Rental Group Pty, Ltd. Term Loan B, 1.773%, PIK, 10/26/23 (c)		882,507		683,943
Term Loan B, 6.372%, 1M LIBOR + 4.500%, 10/26/22		645,477		639,022
WEX, Inc. Term Loan B2, 4.127%, 1M LIBOR + 2.250%, 06/30/23		1,281,971		1,292,087
				5,840,738
Computers—0.1%
Abacus Innovations Corp. Term Loan B, 3.688%, 1M LIBOR + 1.750%, 08/16/23		187,201		188,535
Sungard Availability Services Capital, Inc. 1st Lien Term Loan B, 11.877%, 1M LIBOR + 10.000%, 10/01/22		889,349		878,973
Western Digital Corp. Term Loan B3, 3.877%, 1M LIBOR + 2.000%, 04/29/23		456,051		459,329
				1,526,837
Diversified Financial Services—0.1%
Doncasters Finance U.S. LLC Term Loan, 5.377%, 3M LIBOR + 3.500%, 04/09/20		991,971		975,851
Electric—0.1%
EFS Cogen Holdings I LLC Term Loan B, 5.560%, 3M LIBOR + 3.250%, 06/28/23		107,451		108,378

BHFTI-109

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (i)—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
NRG Energy, Inc. Term Loan B, 4.052%, 3M LIBOR + 1.750%, 06/30/23		1,292,037	$	1,295,627
				1,404,005
Entertainment—0.3%
Greektown Holdings LLC Term Loan B, 4.877%, 1M LIBOR + 3.000%, 03/21/24		3,019,823		3,026,901
Food—0.7%
Aramark Services, Inc. Term Loan B1, 3.877%, 1M LIBOR + 2.000%, 03/11/25		192,323		194,166
B&G Foods, Inc. 2017 USD Term Loan B, 3.877%, 1M LIBOR + 2.000%, 11/02/22		1,995,262		2,008,772
JBS USA LLC Term Loan B, 4.678%, 3M LIBOR + 2.500%, 10/30/22		4,346,674		4,339,067
Post Holdings, Inc. Incremental Term Loan, 3.880%, 1M LIBOR + 2.000%, 05/24/24		1,094,486		1,098,162
				7,640,167
Forest Products & Paper—0.2%
Appvion, Inc. Term Loan, 8.377%, 1M LIBOR + 6.500%, 07/02/18 (l)		1,033,832		1,033,832
Caraustar Industries, Inc. Term Loan B, 7.802%, 3M LIBOR + 5.500%, 03/14/22		1,178,055		1,183,946
				2,217,778
Healthcare-Services—0.3%
DaVita HealthCare Partners, Inc. Term Loan B, 06/24/21 (k)		1,416,321		1,430,595
INC Research LLC Term Loan B, 4.127%, 1M LIBOR + 2.250%, 08/01/24		596,284		598,986
U.S. Renal Care, Inc. Term Loan B, 5.943%, 3M LIBOR + 4.250%, 12/31/22		1,500,930		1,509,843
				3,539,424
Hotels, Restaurants & Leisure—0.1%
Aristocrat Leisure, Ltd. Incremental Term Loan, 3.745%, 3M LIBOR + 2.000%, 10/19/24		736,155		740,756
Eldorado Resorts LLC Term Loan B, 4.128%, 2M LIBOR + 2.250%, 04/17/24		661,481		664,375
				1,405,131
Household Products/Wares—0.1%
Spectrum Brands, Inc. Term Loan B, 3.856%, 2M LIBOR + 2.000%, 06/23/22		1,427,154		1,434,201
Industrial Conglomerates—0.1%
OSG Bulk Ships, Inc. Term Loan, 6.040%, 3M LIBOR + 4.250%, 08/05/19		638,148		615,813
Internet Software & Services—0.1%
Rackspace Hosting, Inc. 2017 Incremental 1st Lien Term Loan, 4.787%, 3M LIBOR + 3.000%, 11/03/23		1,116,705		1,114,350
Investment Company Security—0.2%
FinCo I LLC Term Loan B, 4.627%, 1M LIBOR + 2.750%, 12/27/22		1,592,842		1,613,151
IT Services—0.1%
Global Payments, Inc. Term Loan A2, 3.481%, 1W LIBOR + 1.750%, 05/02/22		522,582		523,807
Leisure Time—0.0%
Aristocrat Leisure, Ltd. Term Loan B, 3.745%, 3M LIBOR + 2.000%, 10/20/21		111,482		112,121
Machinery—0.0%
Harsco Corp. Term Loan B, 4.938%, 1M LIBOR + 3.000%, 12/06/24		193,623		196,406
Media—0.6%
Altice U.S. Finance I Corp. Term Loan, 4.127%, 1M LIBOR + 2.250%, 07/28/25		165,949		165,949
AMC Entertainment, Inc. Term Loan, 4.027%, 1M LIBOR + 2.250%, 12/15/22		1,287,330		1,292,043
Term Loan B, 4.027%, 1M LIBOR + 2.250%, 12/15/23		425,313		426,708
Gray Television, Inc. Term Loan B, 3.920%, 1M LIBOR + 2.250%, 02/07/24		416,272		418,570
Lions Gate Entertainment Corp. 2018 Term Loan A, 03/02/23 (k)		213,097		213,763
Mission Broadcasting, Inc. Term Loan B2, 01/17/24 (k)		242,331		243,421
Nexstar Broadcasting, Inc. Term Loan B2, 1M LIBOR + 2.500%, 01/17/24 (k)		1,887,059		1,895,551
Sinclair Television Group, Inc. Term Loan B, 12/12/24 (k)		2,130,000		2,143,568
				6,799,573
Oil & Gas—0.5%
Fieldwood Energy LLC 1st Lien Term Loan, 4.752%, 1M LIBOR + 2.875%, 09/28/18		3,636,576		3,632,030
Oxbow Carbon LLC 1st Lien Term Loan B, 5.627%, 1M LIBOR + 3.750%, 01/04/23		474,000		480,518
Term Loan A, 4.377%, 1M LIBOR + 2.500%, 01/04/22		858,000		859,072
				4,971,620
Oil & Gas Services—0.1%
Navios Maritime Midstream Partners L.P. Term Loan B, 6.710%, 3M LIBOR + 4.500%, 06/18/20		846,163		845,105

BHFTI-110

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Floating Rate Loans (i)—(Continued)

Security Description	Principal Amount*		Value
Packaging & Containers—0.0%
Crown Holdings, Inc. Term Loan B, 01/29/25 (k)		138,278	$	139,648
Pharmaceuticals—0.1%
Endo Luxembourg Finance Co. I S.a.r.l. Term Loan B, 6.188%, 1M LIBOR + 4.250%, 04/29/24		381,270		381,698
RPI Finance Trust Term Loan A3, 4.052%, 3M LIBOR + 1.750%, 10/14/21		235,712		236,154
Valeant Pharmaceuticals International, Inc. Term Loan B, 5.240%, 1M LIBOR + 3.500%, 04/01/22		442,974		448,207
				1,066,059
Retail—0.7%
Ascena Retail Group, Inc. Term Loan B, 6.438%, 1M LIBOR + 4.500%, 08/21/22		2,261,969		2,013,152
Evergreen Acqco 1 L.P. Term Loan, 5.495%, 3M LIBOR + 3.750%, 07/09/19		2,471,939		2,383,103
Harbor Freight Tools USA, Inc. Term Loan B, 4.377%, 1M LIBOR + 2.500%, 08/18/23		1,196,872		1,199,947
PetSmart, Inc. Term Loan B2, 4.680%, 1M LIBOR + 3.000%, 03/11/22		1,900,395		1,529,818
Smart & Final Stores LLC 1st Lien Term Loan, 5.377%, 1M LIBOR + 3.500%, 11/15/22		628,686		621,875
				7,747,895
Semiconductors—0.1%
MKS Instruments, Inc. Term Loan B3, 3.877%, 1M LIBOR + 2.000%, 05/01/23		99,193		99,876
ON Semiconductor Corp. 1st Lien Term Loan, 3.877%, 1M LIBOR + 2.000%, 03/31/23		1,184,893		1,192,520
				1,292,396
Software—0.3%
BMC Software Finance, Inc. Revolver Term Loan, 09/10/18 (j)		1,224,412		1,229,004
Quintiles IMS, Inc. Term Loan B2, 4.302%, 3M LIBOR + 2.000%, 01/17/25		1,808,000		1,818,924
				3,047,928
Telecommunications—0.4%
CommScope, Inc. Term Loan B5, 3.877%, 1M LIBOR + 2.000%, 12/29/22		1,775,060		1,787,042
Consolidated Communications, Inc. Term Loan B, 4.880%, 1M LIBOR + 3.000%, 10/04/23		160,651		158,622
CSC Holdings LLC 1st Lien Term Loan, 4.036%, 1M LIBOR + 2.250%, 07/17/25		1,796,536		1,796,985
Telecommunications—(Continued)
Global Tel*Link Corp. 1st Lien Term Loan, 6.302%, 3M LIBOR + 4.000%, 05/23/20		183,742		184,967
				3,927,616
Total Floating Rate Loans (Cost $72,965,603)				69,782,595
Mortgage-Backed Securities—4.1%
Collateralized Mortgage Obligations—1.8%
Adjustable Rate Mortgage Trust 3.791%, 02/25/35 (a)		1,694,157		1,690,155
American Home Mortgage Investment Trust 3.466%, 6M LIBOR + 1.500%, 10/25/34 (a)		976,802		966,323
CHL Mortgage Pass-Through Trust 3.112%, 07/25/34 (a)		548,085		548,384
Credit Suisse First Boston Mortgage Securities Corp. 5.000%, 09/25/19		112,829		116,095
Impac Secured Assets Corp. 2.637%, 1M LIBOR + 0.765%, 02/25/35 (a)		961,431		962,050
MASTR Alternative Loan Trust 5.000%, 08/25/18		29,088		29,075
5.500%, 12/25/18		28,997		28,998
5.500%, 04/25/19		95,408		96,088
5.515%, 11/25/19 (a)		141,619		142,944
Merrill Lynch Mortgage Investors Trust 2.612%, 1M LIBOR + 0.740%, 03/25/28 (a)		518,047		496,526
3.372%, 04/25/35 (a)		289,118		281,047
New York Mortgage Trust 2.547%, 1M LIBOR + 0.675%, 02/25/36 (a)		338,403		304,194
OBX Trust 2.527%, 1M LIBOR + 0.650%, 06/25/57 (144A) (a)		1,060,000		1,060,678
Radnor RE 2018-1, Ltd. 3.254%, 1M LIBOR + 1.400%, 03/25/28 (144A) (a)		2,370,000		2,368,564
Sequoia Mortgage Trust 2.462%, 1M LIBOR + 0.640%, 11/20/34 (a)		346,419		342,833
Structured Adjustable Rate Mortgage Loan Trust 2.312%, 1M LIBOR + 0.440%, 08/25/35 (a)		651,691		639,749
3.692%, 09/25/34 (a)		1,613,033		1,609,881
Structured Asset Mortgage Investments Trust 2.508%, 1M LIBOR + 0.700%, 02/19/35 (a)		657,891		652,457
WaMu Mortgage Pass-Through Certificates Trust 2.202%, 1M LIBOR + 0.330%, 01/25/45 (a)		2,189,558		2,174,776
2.332%, 1M LIBOR + 0.460%, 04/25/45 (a)		1,723,479		1,693,035
2.452%, 1M LIBOR + 0.580%, 07/25/45 (a)		976,957		962,521
Wells Fargo Mortgage-Backed Securities Trust 3.645%, 06/25/35 (a)		586,270		590,357
3.841%, 02/25/35 (a)		820,995		837,828
				18,594,558
Commercial Mortgage-Backed Securities—2.3%
BAMLL Commercial Mortgage Securities Trust 2012-PARK 2.959%, 12/10/30 (144A)		1,940,000		1,921,603

BHFTI-111

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Commercial Mortgage-Backed Securities—(Continued)
Bear Stearns Commercial Mortgage Securities Trust 5.106%, 10/12/42 (a)		800,000	$	727,729
CD Commercial Mortgage Trust 5.243%, 07/15/44 (a)		466,950		466,457
Citigroup Commercial Mortgage Trust 5.482%, 10/15/49		694,390		666,600
Colony Multifamily Mortgage Trust 2.543%, 04/20/50 (144A)		514,301		510,833
Commercial Mortgage Trust 3.611%, 08/10/49 (144A) (a)		1,220,000		1,239,404
Core Industrial Trust 3.040%, 02/10/34 (144A)		5,590,000		5,587,171
CSAIL Commercial Mortgage Trust 0.836%, 06/15/57 (a) (m)		15,671,565		673,547
GE Commercial Mortgage Corp. Trust 5.606%, 12/10/49 (a)		960,000		968,912
Greenwich Capital Commercial Mortgage Trust 5.736%, 07/10/38 (a)		1,874,021		1,739,867
GS Mortgage Securities Corp. II 0.878%, 05/10/50 (a) (m)		19,865,394		825,163
JPMorgan Chase Commercial Mortgage Securities Trust 5.705%, 12/15/44 (a)		1,259,695		1,256,627
Merrill Lynch Mortgage Trust 5.309%, 11/12/37 (a)		565,447		564,656
Multi Security Asset Trust L.P. 5.880%, 11/28/35 (144A) (a)		1,531,376		1,529,876
OBP Depositor LLC Trust 4.646%, 07/15/45 (144A)		2,250,000		2,321,500
Resource Capital Corp., Ltd. 3.186%, 1M LIBOR + 1.400%, 08/15/32 (144A) (a)		27,855		27,838
Wachovia Bank Commercial Mortgage Trust 5.954%, 10/15/35 (144A) (a)		192,355		193,092
Wells Fargo Commercial Mortgage Trust 1.652%, 11/15/49 (a) (m)		14,272,411		1,329,231
2.399%, 11/15/49		2,692,000		2,633,012
				25,183,118
Total Mortgage-Backed Securities (Cost $44,174,053)				43,777,676
Foreign Government—1.5%
Banks—0.3%
Korea Development Bank (The) 3.375%, 03/12/23		2,700,000		2,690,353
Sovereign—1.2%
Brazil Notas do Tesouro Nacional 6.000%, 08/15/18 (BRL) (e)		600,000		567,776
10.000%, 01/01/21 (BRL)		5,500,000		1,790,112
Export-Import Bank of China (The) 2.500%, 07/31/19 (144A)		4,000,000		3,976,908
Export-Import Bank of Korea 2.250%, 01/21/20		5,000,000		4,924,790
Sovereign—(Continued)
Indonesia Treasury Bond 8.250%, 07/15/21 (IDR)		16,800,000,000		1,302,633
Mexican Bonos 8.500%, 12/13/18 (MXN)		17,100,000		945,184
				13,507,403
Total Foreign Government (Cost $13,935,594)				16,197,756
Municipals—1.0%
Industry Public Facilities Authority, Tax Allocation Revenue 3.389%, 01/01/20		3,525,000		3,579,496
San Jose Redevelopment Agency Successor Agency, Tax Allocation Revenue 2.480%, 08/01/21		650,000		646,633
2.630%, 08/01/22		2,165,000		2,143,025
State of Pennsylvania, General Obligation, Ltd. 5.000%, 01/15/20		2,800,000		2,958,004
State of Texas, General Obligation Unlimited 5.000%, 04/01/21		1,185,000		1,293,973
Total Municipals (Cost $10,768,884)				10,621,131
Investment Company Security—0.6%
PowerShares Senior Loan Portfolio (b) (Cost $6,936,939)		300,000		6,939,000
Common Stocks—0.1%
Diversified Financial Services—0.0%
Edcon Holdings, Ltd. (g) (h) (l) (n)		8,217,950		6,941
Edcon Holdings, Ltd. (g) (h) (l) (n)		817,800		691
				7,632
Oil, Gas & Consumable Fuels—0.1%
Halcon Resources Corp. (b) (n)		65,445		318,717
Linn Energy, Inc. (n)		6,620		254,473
				573,190
Paper & Forest Products—0.0%
Verso Corp. - Class A (n)		1,665		28,039
Total Common Stocks (Cost $1,486,495)				608,861
Warrant—0.0%
Oil, Gas & Consumable Fuels—0.0%
Halcon Resources Corp., Expires 09/09/20 (n)		5,835		2,976

BHFTI-112

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Warrant —(Continued)

Security Description	Principal Amount*		Value
Paper & Forest Products—0.0%
Verso Corp., Expires 07/25/23 (n)		175	$	131
Total Warrants (Cost $0)				3,107
Short-Term Investments—0.9%
Discount Note—0.6%
Federal Home Loan Bank Zero Coupon, 04/02/18 (o)		6,670,000		6,670,000
Repurchase Agreement—0.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $3,696,975; collateralized by a U.S. Treasury Note at 2.125%, maturing 03/31/24, with a market value of $3,773,570.		3,696,728		3,696,728
Total Short-Term Investments (Cost $10,366,469)				10,366,728
Securities Lending Reinvestments (p)—9.1%
Certificates of Deposit—3.5%
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (a)		1,500,000		1,499,346
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (a)		2,500,000		2,500,060
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (a)		2,500,000		2,499,920
China Construction Bank 1.950%, 04/20/18		1,500,000		1,499,844
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (a)		1,000,000		999,825
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (a)		3,000,000		3,000,000
Credit Suisse AG New York 2.230%, FEDEFF PRV + 0.550%, 09/07/18 (a)		2,000,000		2,000,000
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (a)		2,000,000		1,999,564
2.077%, 1M LIBOR + 0.200%, 05/30/18 (a)		1,500,000		1,499,751
Mizuho Bank, Ltd., New York 2.077%, 1M LIBOR + 0.200%, 05/29/18 (a)		1,500,000		1,499,874
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (a)		1,000,000		999,914
2.220%, 06/11/18		1,000,000		1,000,166
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (a)		2,000,000		1,998,788
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (a)		2,500,000		2,495,225
2.301%, 1M LIBOR + 0.440%, 09/17/18 (a)		1,000,000		999,859
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (a)		1,000,000		999,904
2.250%, 08/21/18		1,000,000		999,580
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp., London 2.071%, 1M LIBOR + 0.230%, 05/21/18 (a)		1,000,000		1,000,000
Sumitomo Mitsui Banking Corp., New York 2.010%, 1M LIBOR + 0.270%, 09/10/18 (a)		3,500,000		3,498,954
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (a)		3,000,000		2,999,916
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (a)		1,000,000		999,985
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (a)		1,500,000		1,499,866
				38,490,341
Commercial Paper—1.6%
Alpine, Ltd. 2.240%, 06/07/18		994,400		995,870
Danske Corp. 2.080%, 06/04/18		1,988,907		1,992,434
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		1,495,182		1,498,386
LMA S.A. & LMA Americas 2.150%, 06/01/18		2,486,413		2,490,572
Macquarie Bank, Ltd., London 2.020%, 05/16/18		1,492,509		1,496,204
Sheffield Receivables Co. 2.080%, 05/21/18		2,487,144		2,492,680
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (a)		6,000,000		5,999,136
				16,965,282
Repurchase Agreements—3.0%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,900,369; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $1,938,010.		1,900,000		1,900,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,000,194; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $1,020,002.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,000,200; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,020,007.		1,000,000		1,000,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $3,014,318; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,332,136.		3,000,000		3,000,000

BHFTI-113

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (p)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $2,002,070; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,221,424.		2,000,000	$	2,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $508,993; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $555,356.		500,000		500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,089,242; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,110,818.		1,089,035		1,089,035
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $726,494; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $757,388.		700,000		700,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $6,123,393; collateralized by various Common Stock with an aggregate market value of $6,600,001.		6,000,000		6,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $1,000,874; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $2,113,274; collateralized by various Common Stock with an aggregate market value of $2,335,746.		2,100,000		2,100,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $5,000,989; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $5,100,000.		5,000,000		5,000,000
Societe Generale Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $2,901,759; collateralized by various Common Stock with an aggregate market value of $3,223,999.		2,900,000		2,900,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $2,002,528; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				32,189,035
Time Deposits—1.0%
ABN AMRO Bank NV 1.680%, 04/02/18		3,000,000		3,000,000
Australia New Zealand Bank 1.670%, 04/02/18		2,000,000
				2,000,000
DNB Bank ASA 1.640%, 04/02/18		2,000,000		2,000,000
DZ Bank AG 1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York 1.640%, 04/02/18		2,000,000		2,000,000
				11,000,000
Total Securities Lending Reinvestments (Cost $98,656,439)				98,644,658
Total Investments—110.1% (Cost $1,206,137,359)				1,197,870,008
Unfunded Loan Commitments—(0.1)% (Cost $(1,224,412))				(1,224,412	)
Net Investments—110.0% (Cost $1,204,912,947)				1,196,645,596
Other assets and liabilities (net)—(10.0)%				(108,309,715	)
Net Assets—100.0%			$	1,088,335,881

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $95,578,451 and the collateral received consisted of cash in the amount of $98,633,590. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Payment-in-kind security for which part of the income earned may be paid as additional principal.

BHFTI-114

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $65,212, which is 0.0% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Principal amount of security is adjusted for inflation.
(f)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(g)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent 0.2% of net assets.
(h)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(i)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(j)	Unfunded or partially unfunded loan commitments. The Portfolio may enter into certain credit agreements for which all or a portion may be unfunded. The Portfolio is obligated to fund these commitments at the borrower’s discretion.
(k)	This loan will settle after March 31, 2018, at which time the interest rate will be determined.
(l)	Illiquid security. As of March 31, 2018, these securities represent 0.2% of net assets.
(m)	Interest only security.
(n)	Non-income producing security.
(o)	The rate shown represents current yield to maturity.
(p)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $251,218,279, which is 23.1% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
KSouth Africa, Ltd., 25.000%, 12/31/22		12/22/16-12/31/17	$	108,685	$	108,685	$	43,474
KSouth Africa, Ltd., 3.000%, 12/31/22		4/15/13-12/31/17		622,872		1,282,934		21,738
							$	65,212

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	1,270,000	DBAG		04/19/18		USD	1,007,935	$	(32,525	)
AUD	775,000	JPMC		04/19/18		USD	606,856		(11,625	)
AUD	1,770,000	JPMC		04/19/18		USD	1,416,545		(57,114	)
CAD	1,110,000	JPMC		04/19/18		USD	873,926		(12,070	)
CAD	1,330,000	JPMC		04/19/18		USD	1,032,629		46
EUR	1,300,000	DBAG		04/19/18		USD	1,535,300		65,981
EUR	1,360,000	DBAG		04/19/18		USD	1,636,665		38,522
EUR	2,020,000	DBAG		04/19/18		USD	2,487,630		515
EUR	1,480,000	JPMC		04/19/18		USD	1,825,314		(2,316	)
GBP	1,310,000	DBAG		04/19/18		USD	1,838,585		511
IDR	9,730,000,000	JPMC		04/12/18		USD	705,584		636
INR	81,900,000	JPMC		04/12/18		USD	1,225,314		29,094
INR	51,540,000	DBAG		04/19/18		USD	780,672		8,052
INR	45,300,000	JPMC		04/19/18		USD	686,468		6,765
JPY	99,997,600	CBNA		04/19/18		USD	908,796		31,854
JPY	88,300,000	HSBC		04/19/18		USD	802,487		28,127
JPY	64,755,625	JPMC		04/19/18		USD	588,602		20,537
JPY	85,900,000	JPMC		04/19/18		USD	768,584		39,454
JPY	125,000,000	JPMC		04/19/18		USD	1,128,184		47,657
JPY	159,000,000	JPMC		04/19/18		USD	1,411,702		83,968
MXN	26,200,000	JPMC		04/12/18		USD	1,374,030		65,143

BHFTI-115

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
MXN	101,300,000	JPMC		04/19/18		USD	5,152,568	$	405,890
NOK	9,100,000	JPMC		04/19/18		USD	1,105,375		56,048
PLN	3,130,000	JPMC		04/19/18		USD	880,574		33,928
SEK	4,160,000	JPMC		04/19/18		USD	514,804		(16,056	)
SEK	9,200,000	JPMC		04/19/18		USD	1,109,369		(6,370	)
Contracts to Deliver
AUD	1,931,148	DBAG		04/19/18		USD	1,513,209		30,010
AUD	4,000,000	JPMC		04/19/18		USD	3,134,760		62,599
CAD	3,760,000	JPMC		04/19/18		USD	2,995,787		76,346
EUR	253,765	BBP		04/19/18		USD	301,152		(11,425	)
EUR	2,962,067	CBNA		04/19/18		USD	3,515,737		(132,804	)
EUR	3,500,000	DBAG		04/19/18		USD	4,154,115		(157,028	)
EUR	2,771,294	DBAG		04/19/18		USD	3,289,221		(124,334	)
EUR	2,813,000	GSBU		04/19/18		USD	3,338,243		(126,684	)
EUR	2,576,608	JPMC		04/19/18		USD	3,058,511		(115,239	)
EUR	1,035,310	JPMC		04/19/18		USD	1,228,944		(46,304	)
GBP	1,310,000	DBAG		04/19/18		USD	1,733,339		(105,757	)
JPY	99,997,600	CBNA		04/19/18		USD	903,591		(37,059	)
JPY	88,300,000	HSBC		04/19/18		USD	797,651		(32,963	)
JPY	361,284,375	JPMC		04/19/18		USD	3,245,400		(153,104	)
JPY	73,371,250	JPMC		04/19/18		USD	662,785		(27,399	)
MXN	26,200,000	JPMC		04/12/18		USD	1,391,877		(47,296	)
MXN	13,400,000	JPMC		04/19/18		USD	710,970		(24,305	)
NOK	5,620,000	JPMC		04/19/18		USD	723,490		6,216
NOK	3,480,000	JPMC		04/19/18		USD	450,327		6,179
Net Unrealized Depreciation								$	(135,699	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Canada Government Bond 10 Year Futures		06/20/18		31			CAD	4,131,370		$	52,862
U.S. Treasury Note 2 Year Futures		06/29/18		838			USD	178,166,657			(28,281	)
Futures Contracts—Short
U.S. Treasury Note 10 Year Futures		06/20/18		(43	)		USD	(5,209,047	)		(55,201	)
U.S. Treasury Note 5 Year Futures		06/29/18		(143	)		USD	(16,367,914	)		(87,983	)
Net Unrealized Depreciation										$	(118,603	)

Swap Agreements

OTC Total Return Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Maturity Date

Counterparty

Underlying Reference Instrument

Notional Amount

Market Value

Upfront Premium Paid/(Received)

Unrealized Depreciation(1)

Pay

3M LIBOR

Quarterly

09/20/18

CBNA

Markit iBoxx USD Liquid High Yield Index

USD

3,800,000

$

(9,169

)

$

—

$

(9,169

)

BHFTI-116

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate			Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums (Received)			Unrealized Appreciation/ (Depreciation)
Pay	3M LIBOR	Quarterly		2.250	%	Semi-Annually		09/19/20		USD	33,000,000	$	(275,791	)	$	(313,317	)	$	37,526
Pay	3M LIBOR	Quarterly		2.250	%	Semi-Annually		09/19/20		USD	43,700,000		(365,214	)		(356,748	)		(8,466	)
Receive	3M CPURNSA	Maturity		1.960	%	Maturity		08/31/24		USD	10,800,000		255,666			—			255,666
Totals												$	(385,339	)	$	(670,065	)	$	284,726

Centrally Cleared Credit Default Swaps on Credit Indices and Sovereign Issues—Buy Protection (a)

Reference Obligation	Fixed Deal (Pay) Rate		Payment Frequency		Maturity Date	Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Depreciation
ITRX.EUR.28		(1.000%)		Quarterly	12/20/22	0.510%		EUR	20,600,000	$	(583,182)	$	(548,043)	$	(35,139)
Republic of Turkey, 11.875%, due 01/15/30		(1.000%)		Quarterly	06/20/23	1.934%		USD	392,000		17,224		18,125		(901)
Total										$	(565,958)	$	(529,918)	$	(36,040)

Centrally Cleared Credit Default Swaps on Credit Indices and Sovereign Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
CDX.EM.29		1.000%		Quarterly		06/20/23	1.381%		USD	2,800,000	$	(50,285)	$	(56,560)	$	6,275
CDX.NA.HY.30		5.000%		Quarterly		06/20/23	3.611%		USD	19,150,000		1,153,189		1,169,586		(16,397)
CDX.NA.IG.29		1.000%		Quarterly		12/20/22	0.578%		USD	22,900,000		424,770		479,165		(54,395)
Republic of Indonesia, 5.875%, due 03/13/20		1.000%		Quarterly		06/20/23	1.024%		USD	1,100,000		(1,272)		1,836		(3,108)
Total											$	1,526,402	$	1,594,027	$	(67,625)

OTC Credit Default Swaps on Corporate Issues—Buy Protection (a)

Reference Obligation	Fixed Deal (Pay) Rate		Payment Frequency		Maturity Date	Counterparty	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
AES Corp. 1.000%, due 06/01/19		(5.000%)		Quarterly	06/20/21	JPMC		0.626%		USD	600,000	$	(81,322)	$	(63,915)	$	(17,407)
AES Corp. 1.000%, due 06/01/19		(5.000%)		Quarterly	06/21/21	JPMC		0.627%		USD	500,000		(67,803)		(56,973)		(10,830)
AES Corp. 1.000%, due 06/01/19		(5.000%)		Quarterly	06/21/21	JPMC		0.627%		USD	500,000		(67,803)		(51,976)		(15,827)
AES Corp. 1.000%, due 06/01/19		(5.000%)		Quarterly	06/21/21	JPMC		0.627%		USD	1,500,000		(203,408)		(170,919)		(32,489)
AES Corp. 5.000%, due 06/20/22		(5.000%)		Quarterly	06/20/22	JPMC		0.969%		USD	1,300,000		(207,832)		(177,082)		(30,750)
AES Corp. 5.000%, due 06/20/22		(5.000%)		Quarterly	06/20/22	JPMC		0.969%		USD	2,000,000		(319,742)		(281,770)		(37,972)
Ally Financial, Inc. 7.150%, due 09/15/20		(5.000%)		Quarterly	12/20/22	CBNA		1.219%		USD	700,000		(115,614)		(131,667)		16,053
Ally Financial, Inc. 7.150%, due 09/15/20		(5.000%)		Quarterly	12/20/22	JPMC		1.219%		USD	330,000		(54,504)		(62,735)		8,231
Ally Financial, Inc. 7.150%, due 09/15/20		(5.000%)		Quarterly	12/20/22	JPMC		1.219%		USD	770,000		(127,175)		(145,434)		18,259
Best Buy Co., Inc. 5.500%, due 03/15/21		(5.000%)		Quarterly	06/20/22	BBP		0.658%		USD	350,000		(60,742)		(59,024)		(1,718)

BHFTI-117

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

OTC Credit Default Swaps on Corporate Issues—Buy Protection (a)—(Continued)

Reference Obligation	Fixed Deal (Pay) Rate		Payment Frequency		Maturity Date	Counterparty	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Best Buy Co., Inc. 5.500%, due 03/15/21		(5.000%)		Quarterly	06/20/22	CBNA		0.658%		USD	500,000	$	(86,775)	$	(85,097)	$	(1,678)
Best Buy Co., Inc. 6.000%, due 06/20/22		(5.000%)		Quarterly	06/20/22	CBNA		0.658%		USD	660,000		(114,543)		(107,750)		(6,793)
Best Buy Co., Inc. 5.500%, due 03/15/21		(5.000%)		Quarterly	06/20/22	JPMC		0.658%		USD	650,000		(112,807)		(116,574)		3,767
CSC Holdings LLC 5.000%, due 09/20/18		(5.000%)		Quarterly	09/20/18	BBP		0.302%		USD	2,500,000		(56,523)		(146,999)		90,476
Dish DBS Corp. 6.750%, due 06/01/21		(5.000%)		Quarterly	06/20/21	JPMC		0.000%		USD	1,620,000		(91,608)		(86,382)		(5,226)
Lennar Corp. 4.750%, due 12/15/17		(5.000%)		Quarterly	06/20/18	CBNA		0.183%		USD	5,500,000		(60,724)		(628,661)		567,937
Nabors Industries, Inc. 9.250%, due 01/15/19		(1.000%)		Quarterly	06/20/20	JPMC		0.901%		USD	30,000		(64)		830		(894)
Nabors Industries, Inc. 9.250%, due 01/15/19		(1.000%)		Quarterly	06/20/22	JPMC		2.707%		USD	775,000		50,611		19,417		31,194
Navient Corp. 5.500%, due 01/25/23		(5.000%)		Quarterly	03/20/20	JPMC		0.762%		USD	500,000		(40,928)		(37,952)		(2,976)
Springleaf Finance Corp. 5.000%, due 06/20/20		(5.000%)		Quarterly	06/20/20	BBP		0.788%		USD	600,000		(54,743)		(55,619)		876
Tenet Healthcare Corp. 6.875%, due 11/15/31		(5.000%)		Quarterly	03/20/19	BBP		0.520%		USD	1,800,000		(78,243)		(145,060)		66,817
Tenet Healthcare Corp. 6.875%, due 11/15/31		(5.000%)		Quarterly	03/20/19	CBNA		0.520%		USD	2,500,000		(108,671)		(220,999)		112,328
Totals												$	(2,060,963)	$	(2,812,341)	$	751,378

OTC Credit Default Swaps on Corporate and Sovereign Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date	Counterparty	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation/ (Depreciation)
American Tower Corp. 3.300%, due 02/15/21		1.000%		Quarterly	06/20/21	GSBU		1.216%		USD	2,700,000	$	(17,770)	$	(12,706)	$	(5,064)
Dish DBS Corp. 5.000%, due 06/20/21		5.000%		Quarterly	06/20/23	JPMC		0.000%		USD	1,620,000		(15,557)		(14,184)		(1,373)
General Electric Co. 2.700%, due 10/09/22		1.000%		Quarterly	12/20/22	CBNA		0.863%		USD	2,730,000		16,405		26,396		(9,991)
Nabors Industries, Inc. 1.000%, due 06/20/22		1.000%		Quarterly	06/20/22	JPMC		2.707%		USD	30,000		(1,959)		(3,858)		1,899
Nabors Industries, Inc. 9.250%, due 01/15/19		1.000%		Quarterly	06/20/22	JPMC		2.707%		USD	775,000		(50,611)		(96,867)		46,256
Republic of Colombia 10.375%, due 01/28/33		1.000%		Quarterly	06/20/23	CBNA		1.065%		USD	1,100,000		(3,442)		(3,030)		(412)
Simon Property Group L.P. 4.375%, due 03/01/21		1.000%		Quarterly	06/20/22	CBNA		0.551%		USD	1,300,000		23,344		4,387		18,957
Simon Property Group L.P. 4.375%, due 03/01/21		1.000%		Quarterly	06/20/22	CBNA		0.551%		USD	650,000		11,672		1,228		10,444
Simon Property Group L.P. 4.375%, due 03/01/21		1.000%		Quarterly	06/20/22	JPMC		0.551%		USD	2,175,000		39,055		21,123		17,932
United Mexican States 4.150%, due 03/28/27		1.000%		Quarterly	06/20/23	CBNA		1.086%		USD	1,600,000		(6,620)		(12,032)		5,412
United Mexican States 4.150%, due 03/28/27		1.000%		Quarterly	06/20/23	JPMC		1.086%		USD	1,100,000		(4,552)		(8,455)		3,903
Totals												$	(10,035)	$	(97,998)	$	87,963

BHFTI-118

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

OTC Credit Default Swaps on Credit Indices—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premium (Received)		Unrealized Appreciation/ (Depreciation)
Bespoke 3-7% CDX Tranche*		0.790%		Quarterly		06/20/19	CBNA	0.454%		USD	1,700,000	$	7,002	$	—	$	7,002
Bespoke 5-8% CDX Tranche*		0.500%		Quarterly		06/20/18	CBNA	1.243%		USD	3,300,000		(5,619)		—		(5,619)
Bespoke 58% HY/42% IG 0-3% CDX Tranche*		1.000%		Quarterly		06/20/19	CBNA	7.193%		USD	570,000		(48,330)		(153,900)		105,570
Bespoke 6-10% CDX Tranche*		0.630%		Quarterly		12/20/18	CBNA	0.563%		USD	4,000,000		1,951		—		1,951
Bespoke Cambridge 0-3% CDX Tranche*		0.000%		Quarterly		12/20/19	CBNA	11.588%		USD	1,100,000		(202,681)		(174,900)		(27,781)
Bespoke Hong Kong 3-5% CDX Tranche*		1.000%		Quarterly		12/20/18	CBNA	0.617%		USD	3,000,000		8,409		(126,283)		134,692
Bespoke Verona 0-3% CDX Tranche*		0.000%		Quarterly		12/20/19	CBNA	11.130%		USD	900,000		(159,934)		(220,500)		60,566
Bespoke Verona 7-15% CDX Tranche*		0.400%		Quarterly		12/20/19	CBNA	0.366%		USD	1,650,000		950		—		950
Totals												$	(398,252)	$	(675,583)	$	277,331

*	Represents a custom index comprised of a basket of underlying issuers.
(a)	If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(b)	Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
(c)	The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.
(d)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(1)	There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(CBNA)—	Citibank N.A.
(DBAG)—	Deutsche Bank AG
(GSBU)—	Goldman Sachs Bank USA
(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.

Currencies

(BRL)—	Brazilian Real
(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(PLN)—	Polish Zloty
(SEK)—	Swedish Krona
(USD)—	United States Dollar

Index Abbreviations

(CDX.EM)—	Markit Emerging Market CDS Index
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CMT)—	Constant Maturity Treasury
(CPURNSA)—	U.S. Consumer Price Index for All Urban Consumers Non-Seasonally Adjusted
(FEDEFF PRV)—	Effective Federal Funds Rate
(H15)—	U.S. Treasury Yield Curve Rate T-Note Constant Maturity Index
(ICE)—	Intercontinental Exchange, Inc.
(ITRX.EUR)—	Markit iTraxx Europe CDS Index
(LIBOR)—	London Interbank Offered Rate
(PRIME)—	U.S. Federal Reserve Prime Rate

Other Abbreviations

(REIT)—	Real Estate Investment Trust
(ARM)—	Adjustable-Rate Mortgage
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation

BHFTI-119

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total Corporate Bonds & Notes*	$	—		$	403,918,127		$	—	$	403,918,127
Total U.S. Treasury & Government Agencies*		—			364,701,622			—		364,701,622
Asset-Backed Securities
Asset-Backed - Credit Card		—			47,031,404			—		47,031,404
Asset-Backed - Home Equity		—			2,761,465			—		2,761,465
Asset-Backed - Other		—			120,015,878			2,500,000		122,515,878
Total Asset-Backed Securities		—			169,808,747			2,500,000		172,308,747
Total Floating Rate Loans (Less Unfunded Loan Commitments of $1,224,412)*		—			68,558,183			—		68,558,183
Total Mortgage-Backed Securities*		—			43,777,676			—		43,777,676
Total Foreign Government*		—			16,197,756			—		16,197,756
Total Municipals		—			10,621,131			—		10,621,131
Total Investment Company Security		6,939,000			—			—		6,939,000
Common Stocks
Diversified Financial Services		—			—			7,632		7,632
Oil, Gas & Consumable Fuels		573,190			—			—		573,190
Paper & Forest Products		28,039			—			—		28,039
Total Common Stocks		601,229			—			7,632		608,861
Total Warrant*		3,107			—			—		3,107
Total Short-Term Investments*		—			10,366,728			—		10,366,728
Total Securities Lending Reinvestments*		—			98,644,658			—		98,644,658
Total Net Investments	$	7,543,336		$	1,186,594,628		$	2,507,632	$	1,196,645,596
Collateral for Securities Loaned (Liability)	$	—		$	(98,633,590	)	$	—	$	(98,633,590	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	1,144,078		$	—	$	1,144,078
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(1,279,777	)		—		(1,279,777	)
Total Forward Contracts	$	—		$	(135,699	)	$	—	$	(135,699	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	52,862		$	—		$	—	$	52,862
Futures Contracts (Unrealized Depreciation)		(171,465	)		—			—		(171,465	)
Total Futures Contracts	$	(118,603	)	$	—		$	—	$	(118,603	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	299,467		$	—	$	299,467
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(118,406	)		—		(118,406	)
Total Centrally Cleared Swap Contracts	$	—		$	181,061		$	—	$	181,061

BHFTI-120

Brighthouse Funds Trust I

Brighthouse/Franklin Low Duration Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—	$	159,399		$	—	$	159,399
OTC Swap Contracts at Value (Liabilities)		—		(2,637,818	)		—		(2,637,818	)
Total OTC Swap Contracts	$	—	$	(2,478,419	)	$	—	$	(2,478,419	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended March 31, 2018 is not presented.

BHFTI-121

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—63.0% of Net Assets

Security Description	Principal Amount*		Value
Argentina—4.0%
Argentine Bonos del Tesoro 15.500%, 10/17/26 (ARS)		437,168,000	$	22,962,557
16.000%, 10/17/23 (ARS)		115,163,000		5,995,311
18.200%, 10/03/21 (ARS)		325,416,000		16,187,559
21.200%, 09/19/18 (ARS)		31,145,000		1,539,228
24.949%, BADLAR + 2.000%, 04/03/22 (ARS) (a)		20,147,000		1,025,713
Bonos de la Nacion Argentina con Ajuste por CER 3.750%, 02/08/19 (ARS)		24,117,000		1,207,571
Letras del Banco Central de la Republica Argentina Zero Coupon, 06/21/18 (ARS)		9,551,000		449,243
Zero Coupon, 07/18/18 (ARS)		30,563,000		1,411,322
21.982%, 08/15/18 (ARS) (b)		23,871,000		1,083,081
1.000%, 10/17/18 (ARS)		28,424,000		1,239,518
				53,101,103
Brazil—4.4%
Brazil Letras do Tesouro Nacional Zero Coupon, 07/01/20 (BRL)		83,081,000		21,385,346
Zero Coupon, 07/01/21 (BRL)		14,410,000		3,377,046
Brazil Notas do Tesouro Nacional 6.000%, 08/15/22 (BRL) (c)		4,846,000		4,868,443
10.000%, 01/01/21 (BRL)		36,775,000		11,969,338
10.000%, 01/01/23 (BRL)		51,875,000		16,789,622
				58,389,795
Colombia—4.2%
Colombian TES 6.000%, 04/28/28 (COP)		5,915,600,000		2,040,828
7.000%, 05/04/22 (COP)		653,000,000		245,242
7.000%, 06/30/32 (COP)		7,946,000,000		2,870,995
7.500%, 08/26/26 (COP)		9,819,300,000		3,769,430
7.750%, 09/18/30 (COP)		108,388,100,000		42,237,905
10.000%, 07/24/24 (COP)		10,589,000,000		4,551,656
				55,716,056
Ghana—1.3%
Ghana Government Bonds 16.500%, 02/06/23 (GHS)		13,400,000		3,083,631
17.600%, 11/28/22 (GHS)		10,450,000		2,478,706
18.250%, 09/21/20 (GHS)		1,530,000		359,264
18.250%, 07/25/22 (GHS)		5,170,000		1,250,128
19.750%, 03/15/32 (GHS)		18,788,000		4,741,648
21.000%, 03/23/20 (GHS)		2,310,000		562,384
24.500%, 10/22/18 (GHS)		4,530,000		1,067,021
Ghana Treasury Notes 17.180%, 01/06/20 (GHS)		1,860,000		425,786
17.240%, 11/11/19 (GHS)		7,030,000		1,609,516
21.000%, 01/07/19 (GHS)		4,470,000		1,043,416
				16,621,500
India—8.1%
India Government Bonds 6.840%, 12/19/22 (INR)		365,000,000		5,493,325
7.680%, 12/15/23 (INR)		1,164,000,000		18,069,906
India—(Continued)
India Government Bonds 8.080%, 08/02/22 (INR)		1,344,000,000		21,216,595
8.120%, 12/10/20 (INR)		3,400,000,000		53,526,971
8.200%, 02/15/22 (INR)		547,000,000		8,655,156
				106,961,953
Indonesia—9.7%
Indonesia Treasury Bonds 5.625%, 05/15/23 (IDR)		96,951,000,000		6,936,389
7.000%, 05/15/22 (IDR)		631,607,000,000		47,532,814
8.375%, 03/15/24 (IDR)		81,624,000,000		6,477,421
8.375%, 09/15/26 (IDR)		45,918,000,000		3,681,278
8.375%, 03/15/34 (IDR)		49,720,000,000		3,918,373
8.750%, 05/15/31 (IDR)		22,479,000,000		1,842,568
9.000%, 03/15/29 (IDR)		11,396,000,000		947,230
10.000%, 09/15/24 (IDR)		186,070,000,000		15,813,294
10.000%, 02/15/28 (IDR)		34,960,000,000		3,062,488
10.500%, 08/15/30 (IDR)		2,470,000,000		227,438
11.500%, 09/15/19 (IDR)		7,238,000,000		565,639
12.800%, 06/15/21 (IDR)		78,179,000,000		6,769,350
12.900%, 06/15/22 (IDR)		341,823,000,000		30,685,240
				128,459,522
Mexico—18.7%
Mexican Bonos 4.750%, 06/14/18 (MXN)		455,600,000		24,886,335
5.000%, 12/11/19 (MXN)		753,040,000		39,873,427
6.500%, 06/10/21 (MXN)		687,730,000		37,048,900
8.000%, 06/11/20 (MXN)		431,860,000		24,130,712
8.500%, 12/13/18 (MXN)		114,740,000		6,342,130
Mexican Udibonos 2.500%, 12/10/20 (MXN) (c)		14,798,257		789,143
4.000%, 06/13/19 (MXN) (c)		18,746,064		1,025,682
Mexico Cetes 6.766%, 04/26/18 (MXN) (b)		1,531,624,000		8,383,156
6.798%, 10/11/18 (MXN) (b)		1,022,027,000		5,399,372
6.896%, 12/06/18 (MXN) (b)		1,494,330,000		7,804,052
6.913%, 04/12/18 (MXN) (b)		5,100,150,000		27,995,840
6.958%, 05/24/18 (MXN) (b)		1,170,996,000		6,371,880
7.040%, 05/10/18 (MXN) (b)		1,116,857,000		6,095,164
7.047%, 06/21/18 (MXN) (b)		1,239,060,000		6,702,306
7.059%, 06/07/18 (MXN) (b)		1,078,000,000		5,848,358
7.183%, 08/16/18 (MXN) (b)		4,586,661,000		24,515,930
7.240%, 01/31/19 (MXN) (b)		945,269,000		4,880,874
7.299%, 07/05/18 (MXN) (b)		379,564,000		2,047,078
7.475%, 08/30/18 (MXN) (b)		1,458,255,000		7,771,504
				247,911,843
Peru—0.1%
Peru Government Bond 7.840%, 08/12/20 (PEN)		5,663,000		1,957,447

BHFTI-122

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
South Korea—7.5%
Korea Treasury Bonds 1.375%, 09/10/21 (KRW)		28,281,400,000	$	25,668,973
1.875%, 03/10/22 (KRW)		65,589,000,000		60,277,700
4.250%, 06/10/21 (KRW)		14,150,400,000		14,057,511
				100,004,184
Thailand—4.3%
Thailand Government Bond 3.875%, 06/13/19 (THB)		1,747,490,000		57,613,466
Ukraine—0.7%
Ukraine Government International Bond Zero Coupon, 05/31/40 (144A)		12,785,000		8,902,374
Total Foreign Government (Cost $818,465,437)				835,639,243
U.S. Treasury & Government Agencies—0.6%
U.S. Treasury—0.6%
U.S. Treasury Notes
2.750%, 02/15/19 (Cost $7,703,278)		7,659,000		7,700,586
Short-Term Investments—30.3%
Discount Note—10.5%
Federal Home Loan Bank 1.300%, 04/02/18 (b)		140,000,000		140,000,000
Foreign Government—0.3%
Argentina Treasury Bill 21.434%, 09/19/18 (b)		84,988,000		3,768,663
Repurchase Agreement—11.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $148,268,047; collateralized by a U.S. Treasury Note at 2.125%, maturing 03/31/24, with a market value of $151,227,035.		148,258,163		148,258,163
U.S. Treasury—8.3%
U.S. Treasury Bills 1.550%, 04/05/18 (b)		33,000,000		32,995,529
1.870%, 09/13/18 (b)		37,130,000		36,815,575
1.950%, 01/31/19 (b)		41,321,000		40,627,553
				110,438,657
Total Short-Term Investments (Cost $402,599,497)				402,465,483
Total Investments—93.9% (Cost $1,228,768,212)				1,245,805,312
Other assets and liabilities (net)—6.1%				80,279,167
Net Assets—100.0%			$	1,326,084,479

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	The rate shown represents current yield to maturity.
(c)	Principal amount of security is adjusted for inflation.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $8,902,374, which is 0.7% of net assets.

Top Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Global Government Investment Grade		31.0%
Global Government High Yield		32.0%
		63.0%

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	354,603,177	JPMC		06/04/18		USD	107,985,619	$	(1,113,052	)
EUR	6,729,500	GSC		04/03/18		USD	8,309,587		(29,275	)
INR	3,617,565,000	HSBC		05/16/18		USD	54,153,462		1,026,326
INR	14,658,000	JPMC		08/06/18		USD	225,977		(4,425	)
INR	69,899,500	HSBC		08/08/18		USD	1,076,122		(19,837	)
KRW	18,754,082,042	HSBC		04/10/18		USD	17,511,223		88,329
KRW	1,336,000,000	CBNA		04/16/18		USD	1,250,039		3,960
KRW	4,810,000,000	CBNA		04/16/18		USD	4,485,267		29,506

BHFTI-123

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
KRW	19,207,000,000	HSBC		04/18/18		USD	17,939,151	$	90,145
KRW	23,804,000,000	HSBC		04/24/18		USD	22,236,857		111,944
KRW	6,255,000,000	HSBC		04/30/18		USD	5,852,632		21,135
KRW	740,000,000	CBNA		05/15/18		USD	690,653		4,607
KRW	5,503,000,000	CBNA		05/21/18		USD	5,154,472		16,913
KRW	13,933,000,000	CBNA		05/23/18		USD	13,051,786		42,523
Contracts to Deliver
AUD	286,550	CBNA		04/09/18		USD	223,741		3,661
AUD	286,550	CBNA		05/09/18		USD	223,755		3,665
AUD	20,094,000	JPMC		05/15/18		USD	15,336,846		(96,974	)
AUD	5,331,000	CBNA		05/22/18		USD	4,206,639		111,927
AUD	39,798,000	JPMC		06/12/18		USD	31,197,652		626,585
AUD	26,541,000	CBNA		06/13/18		USD	20,806,552		418,807
AUD	20,094,000	JPMC		06/15/18		USD	15,860,395		424,799
AUD	960,000	JPMC		06/18/18		USD	755,014		17,558
AUD	29,844,000	JPMC		06/20/18		USD	23,531,696		605,774
BRL	50,629,500	JPMC		06/04/18		USD	15,928,740		669,698
EUR	6,729,500	GSC		04/03/18		USD	8,228,698		(51,613	)
EUR	3,672,600	JPMC		04/09/18		USD	4,463,458		(57,066	)
EUR	263,000	SCB		04/09/18		USD	319,037		(4,684	)
EUR	9,359,372	UBSA		04/09/18		USD	11,355,725		(164,521	)
EUR	5,723,000	HSBC		04/10/18		USD	6,890,378		(154,429	)
EUR	4,077,750	JPMC		04/10/18		USD	4,906,267		(113,296	)
EUR	8,953,000	SCB		04/10/18		USD	10,782,438		(238,382	)
EUR	3,078,169	JPMC		04/11/18		USD	3,692,664		(96,715	)
EUR	11,794,825	DBAG		04/12/18		USD	14,191,592		(329,463	)
EUR	3,411,360	JPMC		04/12/18		USD	4,233,583		33,729
EUR	2,518,372	BOA		04/16/18		USD	3,051,285		(50,066	)
EUR	3,280,343	GSC		04/16/18		USD	4,009,005		(30,705	)
EUR	3,821,000	HSBC		04/16/18		USD	4,628,549		(76,976	)
EUR	1,565,000	JPMC		04/16/18		USD	1,895,919		(31,363	)
EUR	446,000	SCB		04/16/18		USD	540,061		(9,183	)
EUR	315,257	BOA		04/17/18		USD	384,677		(3,587	)
EUR	413,121	JPMC		04/17/18		USD	504,272		(4,519	)
EUR	815,500	GSC		04/18/18		USD	1,003,147		(1,278	)
EUR	6,585,520	JPMC		04/18/18		USD	8,102,495		(8,672	)
EUR	4,631,000	MSC		04/19/18		USD	5,723,453		19,195
EUR	4,631,000	MSC		04/19/18		USD	5,732,900		28,643
EUR	699,631	DBAG		04/23/18		USD	861,050		(971	)
EUR	2,240,854	JPMC		04/23/18		USD	2,760,307		(668	)
EUR	4,520,000	UBSA		04/23/18		USD	5,566,064		(3,065	)
EUR	3,566,100	DBAG		04/24/18		USD	4,388,799		(5,336	)
EUR	2,317,504	BBP		04/30/18		USD	2,883,670		26,822
EUR	4,190,725	CBNA		04/30/18		USD	5,209,574		43,558
EUR	2,480,403	SCB		04/30/18		USD	3,081,293		23,635
EUR	2,659,000	GSC		05/02/18		USD	3,336,167		57,879
EUR	1,620,000	HSBC		05/02/18		USD	2,032,633		35,331
EUR	6,729,500	GSC		05/03/18		USD	8,327,083		29,668
EUR	4,170,000	BOA		05/07/18		USD	5,218,755		75,713
EUR	3,488,374	BOA		05/07/18		USD	4,365,699		63,337
EUR	649,410	CBNA		05/07/18		USD	811,243		10,297
EUR	20,579,043	DBAG		05/07/18		USD	25,712,897		331,871
EUR	2,021,800	DBAG		05/07/18		USD	2,530,343		36,770
EUR	708,000	DBAG		05/09/18		USD	874,596		1,264
EUR	20,376,830	CBNA		05/14/18		USD	25,123,409		(20,764	)
EUR	419,000	HSBC		05/14/18		USD	517,656		627

BHFTI-124

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	3,411,360	JPMC		05/14/18		USD	4,243,043	$	33,564
EUR	830,000	JPMC		05/14/18		USD	1,023,365		(821	)
EUR	309,733	DBAG		05/15/18		USD	385,181		2,956
EUR	900,000	GSC		05/15/18		USD	1,117,908		7,266
EUR	9,836,708	BOA		05/16/18		USD	12,272,474		132,648
EUR	2,240,854	JPMC		05/21/18		USD	2,814,939		48,435
EUR	19,463,000	SCB		05/21/18		USD	24,418,961		390,422
EUR	6,686,730	UBSA		05/21/18		USD	8,390,709		135,438
EUR	2,341,000	BOA		05/22/18		USD	2,906,351		16,004
EUR	1,986,636	DBAG		05/22/18		USD	2,467,998		15,171
EUR	3,696,678	HSBC		05/22/18		USD	4,590,646		26,493
EUR	12,323,000	JPMC		05/22/18		USD	15,310,465		95,708
EUR	281,896	UBSA		05/22/18		USD	350,340		2,294
EUR	10,021,278	BOA		05/31/18		USD	12,435,404		54,548
EUR	2,317,504	BBP		05/31/18		USD	2,872,894		9,718
EUR	49,367,619	DBAG		05/31/18		USD	61,142,783		151,225
EUR	2,529,597	SCB		05/31/18		USD	3,130,908		5,700
EUR	1,120,359	BOA		06/01/18		USD	1,383,486		(767	)
EUR	6,729,500	GSC		06/04/18		USD	8,265,374		(51,008	)
EUR	8,039,372	UBSA		06/06/18		USD	9,960,902		24,128
EUR	3,488,374	BOA		06/07/18		USD	4,322,548		10,515
EUR	6,270,000	GSC		06/07/18		USD	7,779,879		29,433
EUR	3,411,360	JPMC		06/12/18		USD	4,251,623		33,045
EUR	11,794,825	DBAG		06/13/18		USD	14,629,416		42,422
EUR	2,240,854	JPMC		06/15/18		USD	2,792,721		20,935
EUR	9,836,708	BOA		06/18/18		USD	12,251,325		80,963
EUR	3,280,343	GSC		06/19/18		USD	4,073,759		14,855
EUR	4,103,813	GSC		06/20/18		USD	5,083,188		4,950
EUR	6,686,730	UBSA		06/20/18		USD	8,300,338		25,886
EUR	10,021,278	BOA		06/29/18		USD	12,515,374		105,375
EUR	49,348,225	DBAG		06/29/18		USD	61,633,713		522,604
INR	1,486,720,000	HSBC		05/16/18		USD	22,960,927		283,547
JPY	133,330,000	SCB		04/10/18		USD	1,195,249		(58,346	)
JPY	578,374,700	BBP		04/11/18		USD	5,183,595		(254,689	)
JPY	100,800,000	CBNA		04/13/18		USD	928,049		(19,845	)
JPY	177,260,000	BOA		04/18/18		USD	1,632,574		(34,773	)
JPY	159,950,000	JPMC		04/20/18		USD	1,429,670		(75,017	)
JPY	465,903,000	CBNA		04/23/18		USD	4,393,860		10,300
JPY	733,680,000	JPMC		04/23/18		USD	6,850,260		(52,745	)
JPY	100,475,000	MSC		04/26/18		USD	955,640		10,145
JPY	359,980,000	GSC		04/27/18		USD	3,190,096		(197,588	)
JPY	2,674,232,353	CBNA		05/09/18		USD	23,637,011		(1,546,720	)
JPY	112,664,667	CBNA		05/14/18		USD	1,003,082		(58,292	)
JPY	92,567,000	JPMC		05/14/18		USD	825,091		(46,949	)
JPY	8,128,806,420	GSC		05/15/18		USD	72,379,585		(4,204,643	)
JPY	157,477,000	HSBC		05/15/18		USD	1,407,930		(75,714	)
JPY	791,049,590	UBSA		05/15/18		USD	7,043,009		(409,737	)
JPY	796,134,720	CBNA		05/16/18		USD	7,145,829		(355,376	)
JPY	655,568,000	JPMC		05/16/18		USD	5,839,157		(337,625	)
JPY	93,849,000	SCB		05/16/18		USD	834,933		(49,315	)
JPY	8,630,050	BOA		05/18/18		USD	77,462		(3,863	)
JPY	406,893,100	CBNA		05/18/18		USD	3,650,035		(184,289	)
JPY	8,604,125	BOA		05/21/18		USD	78,371		(2,727	)
JPY	406,893,200	CBNA		05/21/18		USD	3,637,099		(198,071	)
JPY	338,124,000	DBAG		05/21/18		USD	3,186,602		(384	)
JPY	306,357,000	DBAG		05/21/18		USD	2,741,204		(146,363	)
JPY	8,634,400	HSBC		05/21/18		USD	78,817		(2,567	)

BHFTI-125

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	8,627,500	BOA		05/22/18		USD	79,064	$	(2,260	)
JPY	151,705,000	CBNA		05/22/18		USD	1,364,600		(65,401	)
JPY	639,006,000	HSBC		05/22/18		USD	5,998,367		(25,026	)
JPY	457,974,000	JPMC		05/22/18		USD	4,298,671		(18,279	)
JPY	275,190,000	JPMC		05/22/18		USD	2,521,960		(72,033	)
JPY	350,622,000	SCB		05/24/18		USD	3,153,393		(152,123	)
JPY	427,709,000	BOA		05/25/18		USD	3,916,749		(115,808	)
JPY	445,120,000	HSBC		05/29/18		USD	4,187,355		(10,594	)
JPY	79,941,000	HSBC		05/29/18		USD	719,411		(34,516	)
JPY	420,518,000	JPMC		05/29/18		USD	3,959,270		(6,656	)
JPY	100,475,000	MSC		05/29/18		USD	957,680		10,095
JPY	522,890,000	BBP		05/31/18		USD	4,931,529		(599	)
JPY	256,658,000	DBAG		05/31/18		USD	2,416,287		(4,624	)
JPY	36,614,000	DBAG		06/01/18		USD	342,804		(2,581	)
JPY	488,094,000	HSBC		06/01/18		USD	4,574,452		(29,804	)
JPY	338,400,000	JPMC		06/05/18		USD	3,181,348		(11,769	)
JPY	159,900,000	HSBC		06/06/18		USD	1,525,763		16,846
JPY	462,800,000	CBNA		06/08/18		USD	4,166,854		(201,076	)
JPY	346,550,000	HSBC		06/11/18		USD	3,107,584		(163,909	)
JPY	895,640,000	CBNA		06/12/18		USD	7,976,915		(478,721	)
JPY	119,465,000	CBNA		06/13/18		USD	1,064,940		(63,000	)
JPY	210,400,000	DBAG		06/13/18		USD	1,980,366		(6,146	)
JPY	635,480,000	HSBC		06/13/18		USD	5,664,319		(335,626	)
JPY	588,770,000	JPMC		06/13/18		USD	5,248,744		(310,184	)
JPY	248,300,000	JPMC		06/15/18		USD	2,217,954		(126,746	)
JPY	930,530,000	HSBC		06/18/18		USD	8,668,188		(120,800	)
JPY	119,300,000	MSC		06/18/18		USD	1,066,493		(60,313	)
JPY	493,277,635	BBP		06/19/18		USD	4,679,232		19,804
JPY	929,100,000	DBAG		06/19/18		USD	8,566,608		(209,534	)
JPY	599,020,000	CBNA		06/20/18		USD	5,484,025		(174,655	)
JPY	109,701,956	CBNA		06/20/18		USD	1,043,836		7,530
JPY	930,710,000	DBAG		06/22/18		USD	8,487,233		(306,098	)
JPY	160,844,000	DBAG		06/22/18		USD	1,526,476		6,825
JPY	250,376,450	BBP		06/26/18		USD	2,387,721		21,458
JPY	109,471,259	JPMC		06/26/18		USD	1,044,473		9,880
JPY	420,518,000	JPMC		06/28/18		USD	4,026,330		51,491
JPY	811,652,000	BBP		06/29/18		USD	7,368,038		(304,472	)
JPY	66,105,000	JPMC		06/29/18		USD	626,160		1,273
JPY	296,207,000	DBAG		07/11/18		USD	2,660,383		(142,107	)
JPY	44,450,000	CBNA		07/12/18		USD	402,948		(17,635	)
JPY	554,560,000	BBP		07/17/18		USD	5,029,658		(219,447	)
JPY	183,890,000	HSBC		07/17/18		USD	1,668,693		(71,890	)
JPY	55,370,000	JPMC		07/23/18		USD	503,776		(20,548	)
JPY	2,961,408,150	DBAG		07/30/18		USD	27,514,709		(542,369	)
JPY	342,205,982	DBAG		07/30/18		USD	3,184,244		(57,896	)
JPY	189,600,000	JPMC		07/30/18		USD	1,762,434		(33,881	)
JPY	411,460,000	BBP		07/31/18		USD	3,822,290		(76,260	)
JPY	408,503,000	CBNA		08/13/18		USD	3,776,945		(97,226	)
JPY	112,664,666	CBNA		08/14/18		USD	1,008,862		(59,707	)
JPY	470,663,000	JPMC		08/15/18		USD	4,423,462		(40,868	)
JPY	653,133,000	JPMC		08/16/18		USD	6,157,334		(38,208	)
JPY	149,920,000	DBAG		08/27/18		USD	1,418,756		(4,499	)
JPY	346,550,000	HSBC		09/11/18		USD	3,126,269		(167,254	)
JPY	290,134,020	GSC		09/18/18		USD	2,767,134		8,376
JPY	164,870,000	HSBC		09/18/18		USD	1,573,187		5,510
JPY	105,370,000	DBAG		09/19/18		USD	1,007,768		5,778
JPY	596,690,000	BBP		01/11/19		USD	5,424,849		(301,567	)

BHFTI-126

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	174,225,000	GSC		01/11/19		USD	1,583,432	$	(88,600	)
JPY	360,500,000	JPMC		01/16/19		USD	3,313,419		(147,658	)
JPY	248,150,000	SCB		01/22/19		USD	2,293,438		(90,125	)
JPY	698,590,000	BBP		01/24/19		USD	6,463,997		(247,256	)
JPY	105,570,000	DBAG		01/24/19		USD	973,453		(40,743	)
JPY	2,940,787,800	JPMC		01/24/19		USD	27,205,963		(1,045,760	)
JPY	353,334,000	CBNA		01/25/19		USD	3,280,481		(114,217	)
JPY	544,000,000	JPMC		01/25/19		USD	5,046,429		(180,115	)
JPY	443,025,359	HSBC		01/31/19		USD	4,161,035		(97,408	)
JPY	222,454,667	CBNA		02/14/19		USD	2,099,768		(40,884	)
JPY	105,370,000	BBP		02/15/19		USD	1,005,410		(8,632	)
JPY	108,840,000	CBNA		02/15/19		USD	1,038,401		(9,035	)
KRW	18,754,082,042	HSBC		04/10/18		USD	17,685,856		86,305
KRW	6,146,000,000	CBNA		04/16/18		USD	5,746,342		(22,431	)
KRW	19,207,000,000	HSBC		04/18/18		USD	16,811,379		(1,217,917	)
KRW	23,804,000,000	HSBC		04/24/18		USD	22,272,749		(76,053	)
KRW	6,255,000,000	HSBC		04/30/18		USD	5,556,543		(317,224	)
KRW	8,216,000,000	CBNA		05/15/18		USD	7,379,862		(339,404	)
KRW	23,877,000,000	HSBC		05/17/18		USD	21,361,664		(1,073,327	)
KRW	7,690,000,000	DBAG		05/18/18		USD	6,922,315		(303,515	)
KRW	5,503,000,000	CBNA		05/21/18		USD	5,102,694		(68,691	)
KRW	13,933,000,000	CBNA		05/23/18		USD	12,919,468		(174,842	)
KRW	14,004,000,000	HSBC		05/30/18		USD	12,943,297		(220,986	)
KRW	16,897,000,000	HSBC		06/05/18		USD	15,801,188		(85,990	)
KRW	17,622,000,000	GSC		06/07/18		USD	16,314,401		(255,631	)
KRW	7,689,000,000	DBAG		06/14/18		USD	7,199,775		(32,025	)
KRW	11,175,000,000	HSBC		06/20/18		USD	10,511,711		(1,057	)
Cross Currency Contracts to Buy
BRL	29,034,000	CBNA		04/03/18		EUR	7,515,531		(453,165	)
BRL	29,034,000	CBNA		07/05/18		EUR	6,921,922		147,021
EUR	7,031,727	CBNA		04/03/18		BRL	29,034,000		(142,132	)
IDR	58,860,000,000	JPMC		04/19/18		AUD	5,520,540		29,896
Net Unrealized Depreciation								$	(15,377,675	)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Receive	3M LIBOR		Semi-Annually	1.817%	Quarterly		02/03/25		USD	8,640,000	$	493,459		$	—	$	493,459
Receive	3M LIBOR		Semi-Annually	1.914%	Quarterly		01/22/25		USD	35,110,000		1,783,226			—		1,783,226
Receive	3M LIBOR		Semi-Annually	1.937%	Quarterly		01/29/25		USD	6,480,000		319,916			—		319,916
Receive	3M LIBOR		Semi-Annually	1.942%	Quarterly		01/30/25		USD	5,480,000		269,288			—		269,288
Receive	3M LIBOR		Semi-Annually	1.970%	Quarterly		01/23/25		USD	17,556,000		831,080			—		831,080
Receive	3M LIBOR		Semi-Annually	1.973%	Quarterly		01/27/25		USD	25,900,000		1,221,131			—		1,221,131
Receive	3M LIBOR		Semi-Annually	2.378%	Quarterly		11/18/46		USD	24,800,000		2,283,155			—		2,283,155
Receive	3M LIBOR		Semi-Annually	2.537%	Quarterly		04/13/47		USD	32,700,000		1,962,657			—		1,962,657
Receive	3M LIBOR		Semi-Annually	2.587%	Quarterly		07/27/47		USD	36,300,000		1,795,743			—		1,795,743
Receive	3M LIBOR		Semi-Annually	2.731%	Quarterly		07/07/24		USD	14,050,000		(8,438	)		—		(8,438	)
Receive	3M LIBOR		Semi-Annually	2.794%	Quarterly		03/13/47		USD	24,900,000		163,613			—		163,613
Receive	3M LIBOR		Semi-Annually	2.980%	Quarterly		02/20/48		USD	13,258,000		(444,375	)		—		(444,375	)
Receive	3M LIBOR		Semi-Annually	3.002%	Quarterly		02/22/48		USD	13,258,000		(506,599	)		—		(506,599	)

BHFTI-127

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Centrally Cleared Interest Rate Swaps—(Continued)

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
Receive	3M LIBOR		Semi-Annually	3.018%	Quarterly		08/22/23		USD	26,870,000	$	(432,322	)	$	216,853	$	(649,175	)
Receive	3M LIBOR		Semi-Annually	3.019%	Quarterly		02/23/48		USD	13,258,000		(554,122	)		—		(554,122	)
Receive	3M LIBOR		Semi-Annually	3.848%	Quarterly		08/20/43		USD	15,360,000		(2,923,996	)		—		(2,923,996	)
Totals											$	6,253,416		$	216,853	$	6,036,563

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BOA)—	Bank of America N.A.
(CBNA)—		Citibank N.A.
(DBAG)—	Deutsche Bank AG
(GSC)—	Goldman Sachs & Co.
(HSBC)—	HSBC Bank plc
(JPMC)—	JPMorgan Chase Bank N.A.
(MSC)—	Morgan Stanley & Co.
(SCB)—	Standard Chartered Bank
(UBSA)—	UBS AG

Currencies

(ARS)—	Argentine Peso
(COP)—	Colombian Peso
(GHS)—	Ghana Cedi
(MXN)—	Mexican Peso Peruvian Nuevo Sol
(PEN)—
(THB)—	Thai Baht
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(EUR)—	Euro
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(USD)—	United States Dollar

Index Abbreviations

(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(LIBOR)—	London Interbank Offered Rate

BHFTI-128

Brighthouse Funds Trust I

Brighthouse/Templeton International Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Foreign Government*	$	—	$	835,639,243		$	—	$	835,639,243
Total U.S. Treasury & Government Agencies*		—		7,700,586			—		7,700,586
Total Short-Term Investments*		—		402,465,483			—		402,465,483
Total Investments	$	—	$	1,245,805,312		$	—	$	1,245,805,312
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	7,910,982		$	—	$	7,910,982
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(23,288,657	)		—		(23,288,657	)
Total Forward Contracts	$	—	$	(15,377,675	)	$	—	$	(15,377,675	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—	$	11,123,268		$	—	$	11,123,268
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—		(5,086,705	)		—		(5,086,705	)
Total Centrally Cleared Swap Contracts	$	—	$	6,036,563		$	—	$	6,036,563

* See Schedule of Investments for additional detailed categorizations.

BHFTI-129

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—99.4% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.9%
Boeing Co. (The)		139,031	$	45,585,484
Harris Corp. (a)		63,578		10,253,860
Lockheed Martin Corp.		94,027		31,774,544
Northrop Grumman Corp.		85,023		29,683,230
				117,297,118
Air Freight & Logistics—0.2%
FedEx Corp.		22,150		5,318,436
Airlines—0.3%
JetBlue Airways Corp. (a) (b)		148,493		3,017,378
Spirit Airlines, Inc. (a) (b)		126,255		4,769,914
				7,787,292
Banks—5.1%
Bank of America Corp.		2,960,211		88,776,728
Citizens Financial Group, Inc.		314,272		13,193,138
KeyCorp		564,063		11,027,432
SunTrust Banks, Inc. (a)		127,994		8,708,712
				121,706,010
Beverages—2.4%
Anheuser-Busch InBev S.A. (ADR)		79,577		8,748,695
Constellation Brands, Inc. - Class A		72,966		16,630,411
Monster Beverage Corp. (b)		137,309		7,855,448
PepsiCo, Inc.		228,467		24,937,173
				58,171,727
Biotechnology—1.6%
Aduro Biotech, Inc. (a) (b)		110,509		1,027,734
Alder Biopharmaceuticals, Inc. (a) (b)		104,993		1,333,411
Alnylam Pharmaceuticals, Inc. (a) (b)		19,687		2,344,722
Arcus Biosciences, Inc. (b)		37,977		586,365
Audentes Therapeutics, Inc. (a) (b)		28,860		867,243
Biogen, Inc. (b)		2,268		621,024
Biohaven Pharmaceutical Holding Co., Ltd. (b)		103,520		2,666,675
Bluebird Bio, Inc. (a) (b)		10,959		1,871,249
Calithera Biosciences, Inc. (b)		51,800		326,340
Celgene Corp. (b)		25,374		2,263,614
Coherus Biosciences, Inc. (a) (b)		120,022		1,326,243
Five Prime Therapeutics, Inc. (a) (b)		17,861		306,852
G1 Therapeutics, Inc. (a) (b)		27,200		1,007,760
Global Blood Therapeutics, Inc. (b)		30,750		1,485,225
GlycoMimetics, Inc. (a) (b)		137,917		2,238,393
Incyte Corp. (b)		21,888		1,823,927
Ironwood Pharmaceuticals, Inc. (a) (b)		112,402		1,734,363
Jounce Therapeutics, Inc. (a) (b)		25,319		565,880
Karyopharm Therapeutics, Inc. (b)		91,751		1,231,298
Loxo Oncology, Inc. (a) (b)		19,010		2,193,184
Momenta Pharmaceuticals, Inc. (a) (b)		117,738		2,136,945
Otonomy, Inc. (b)		102,536		430,651
Ra Pharmaceuticals, Inc. (b)		78,428		416,453
Regeneron Pharmaceuticals, Inc. (b)		3,460		1,191,486
Rigel Pharmaceuticals, Inc. (b)		130,522		462,048
Seattle Genetics, Inc. (a) (b)		51,565		2,698,912
Biotechnology—(Continued)
Syndax Pharmaceuticals, Inc. (a) (b)		88,202		1,255,114
TESARO, Inc. (a) (b)		21,709		1,240,452
Trevena, Inc. (a) (b)		188,677		309,430
				37,962,993
Building Products—0.2%
Masco Corp.		145,011		5,864,245
Capital Markets—2.5%
Cohen & Steers, Inc. (a)		201,410		8,189,331
Northern Trust Corp.		133,881		13,807,147
Raymond James Financial, Inc.		181,092		16,191,436
TD Ameritrade Holding Corp.		360,472		21,350,756
WisdomTree Investments, Inc. (a)		37,027		339,538
				59,878,208
Chemicals—2.2%
Cabot Corp.		77,983		4,345,213
Celanese Corp. - Series A		77,777		7,794,033
DowDuPont, Inc.		231,269		14,734,148
Monsanto Co.		20,043		2,338,818
PPG Industries, Inc.		111,041		12,392,175
Praxair, Inc.		45,163		6,517,021
Westlake Chemical Corp. (a)		36,418		4,047,861
				52,169,269
Construction & Engineering—0.0%
Jacobs Engineering Group, Inc.		11,388		673,600
Construction Materials—0.2%
Martin Marietta Materials, Inc.		9,646		1,999,616
Vulcan Materials Co.		17,366		1,982,676
				3,982,292
Consumer Finance—1.5%
American Express Co.		136,480		12,730,854
Capital One Financial Corp.		163,640		15,679,985
OneMain Holdings, Inc. (b)		223,300		6,685,602
				35,096,441
Containers & Packaging—1.0%
Ardagh Group S.A.		153,595		2,869,154
Ball Corp.		300,511		11,933,292
International Paper Co.		180,551		9,646,840
				24,449,286
Diversified Financial Services—0.3%
Voya Financial, Inc. (a)		162,798		8,221,299
Diversified Telecommunication Services—1.9%
Verizon Communications, Inc.		928,403		44,396,231
Electric Utilities—3.0%
Avangrid, Inc. (a)		271,099		13,858,581

BHFTI-130

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electric Utilities—(Continued)
Edison International		398,916	$	25,394,992
Exelon Corp.		260,404		10,158,360
NextEra Energy, Inc.		131,745		21,517,911
				70,929,844
Electrical Equipment—0.7%
AMETEK, Inc.		113,733		8,640,296
Eaton Corp. plc		109,820		8,775,716
				17,416,012
Electronic Equipment, Instruments & Components—0.8%
Flex, Ltd. (b)		1,097,434		17,921,097
Energy Equipment & Services—0.6%
Baker Hughes a GE Co. (a)		419,815		11,658,263
Halliburton Co.		42,000		1,971,480
				13,629,743
Equity Real Estate Investment Trusts—3.2%
Alexandria Real Estate Equities, Inc.		105,402		13,163,656
American Tower Corp.		173,791		25,258,784
Equinix, Inc.		14,940		6,247,011
Host Hotels & Resorts, Inc.		263,126		4,904,669
Invitation Homes, Inc.		527,601		12,045,131
Outfront Media, Inc. (a)		99,323		1,861,313
Public Storage		31,060		6,224,113
Simon Property Group, Inc.		50,717		7,828,169
				77,532,846
Food & Staples Retailing—0.9%
Costco Wholesale Corp.		63,521		11,969,262
Sysco Corp.		155,253		9,308,970
				21,278,232
Food Products—2.0%
Campbell Soup Co. (a)		218,738		9,473,543
Fresh Del Monte Produce, Inc. (a)		124,719		5,642,287
Hostess Brands, Inc. (a) (b)		520,314		7,695,444
McCormick & Co., Inc. (a)		44,291		4,712,119
Post Holdings, Inc. (a) (b)		200,185		15,166,016
Simply Good Foods Co. (The) (a) (b)		416,671		5,720,893
				48,410,302
Gas Utilities—0.2%
UGI Corp.		120,540		5,354,387
Health Care Equipment & Supplies—3.8%
Abbott Laboratories		298,374		17,878,570
Baxter International, Inc.		141,965		9,233,404
Boston Scientific Corp. (b)		787,700		21,519,964
Danaher Corp.		145,567		14,252,465
Medtronic plc		362,555		29,084,162
				91,968,565
Health Care Providers & Services—3.2%
Cardinal Health, Inc. (a)		160,052		10,032,059
HCA Healthcare, Inc.		86,460		8,386,620
McKesson Corp.		81,365		11,461,888
UnitedHealth Group, Inc.		221,964		47,500,296
				77,380,863
Hotels, Restaurants & Leisure—1.0%
Chipotle Mexican Grill, Inc. (b)		12,352		3,991,055
Hilton Worldwide Holdings, Inc.		81,287		6,402,164
McDonald’s Corp.		73,575		11,505,659
MGM Resorts International		66,916		2,343,398
				24,242,276
Household Durables—0.9%
Installed Building Products, Inc. (a) (b)		81,222		4,877,381
Lennar Corp. - Class A		174,312		10,273,950
Mohawk Industries, Inc. (b)		32,433		7,531,591
				22,682,922
Independent Power and Renewable Electricity Producers—0.6%
NRG Energy, Inc.		466,388		14,238,826
Industrial Conglomerates—0.5%
General Electric Co.		924,384		12,460,696
Insurance—3.7%
Allstate Corp. (The)		65,073		6,168,920
American International Group, Inc.		387,445		21,084,757
Assured Guaranty, Ltd.		400,184		14,486,661
Athene Holding, Ltd. - Class A (b)		210,855		10,080,978
Hartford Financial Services Group, Inc. (The)		170,172		8,767,261
Marsh & McLennan Cos., Inc.		216,173		17,853,728
Prudential Financial, Inc.		112,733		11,673,502
				90,115,807
Internet & Direct Marketing Retail—3.7%
Amazon.com, Inc. (b)		40,811		59,067,393
Expedia Group, Inc. (a)		100,348		11,079,423
Netflix, Inc. (b)		35,739		10,555,514
Wayfair, Inc. - Class A (a) (b)		135,450		9,146,938
				89,849,268
Internet Software & Services—5.9%
Alphabet, Inc. - Class A (b)		64,499		66,894,493
Blucora, Inc. (b)		275,009		6,765,221
eBay, Inc. (b)		284,602		11,452,385
Facebook, Inc. - Class A (b)		356,991		57,043,592
				142,155,691
IT Services—4.0%
Accenture plc - Class A		29,491		4,526,868
Alliance Data Systems Corp. (a)		22,322		4,751,461
Cognizant Technology Solutions Corp. - Class A		25,322		2,038,421
FleetCor Technologies, Inc. (b)		53,232		10,779,480

BHFTI-131

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Genpact, Ltd.		191,626	$	6,130,116
Global Payments, Inc.		155,666		17,359,872
PayPal Holdings, Inc. (b)		162,847		12,355,202
Total System Services, Inc.		22,874		1,973,111
Visa, Inc. - Class A		250,348		29,946,628
WEX, Inc. (a) (b)		42,753		6,695,975
				96,557,134
Life Sciences Tools & Services—0.9%
Thermo Fisher Scientific, Inc.		103,184		21,303,369
Machinery—1.9%
AGCO Corp. (a)		17,631		1,143,370
Caterpillar, Inc.		56,544		8,333,455
Deere & Co.		44,574		6,923,234
Fortive Corp.		116,937		9,064,956
Greenbrier Cos., Inc. (The) (a)		50,149		2,519,987
Illinois Tool Works, Inc.		48,482		7,595,190
PACCAR, Inc.		25,371		1,678,799
Pentair plc (a)		133,350		9,085,136
				46,344,127
Media—3.0%
Charter Communications, Inc. - Class A (b)		61,214		19,051,021
Cinemark Holdings, Inc. (a)		56,875		2,142,481
Comcast Corp. - Class A		853,655		29,169,391
Interpublic Group of Cos., Inc. (The)		130,682		3,009,606
Liberty Media Corp.-Liberty Formula One - Class C (a) (b)		94,876		2,926,925
New York Times Co. (The) - Class A (a)		56,247		1,355,553
Twenty-First Century Fox, Inc. - Class A		166,803		6,120,002
Viacom, Inc. - Class B		182,033		5,653,945
Walt Disney Co. (The)		29,579		2,970,915
				72,399,839
Metals & Mining—0.3%
Alcoa Corp. (b)		53,382		2,400,055
ArcelorMittal		8,493		270,162
Southern Copper Corp.		16,982		920,085
Steel Dynamics, Inc.		65,801		2,909,720
				6,500,022
Multi-Utilities—0.7%
Sempra Energy (a)		160,311		17,829,789
Multiline Retail—0.5%
Dollar Tree, Inc. (b)		121,765		11,555,498
Oil, Gas & Consumable Fuels—4.2%
Andeavor		58,442		5,876,928
BP plc (ADR)		271,437		11,004,056
Centennial Resource Development, Inc. - Class A (a) (b)		66,932		1,228,202
Chevron Corp.		244,644		27,899,202
Concho Resources, Inc. (b)		19,868		2,986,756
Diamondback Energy, Inc. (a) (b)		20,111		2,544,444
EOG Resources, Inc.		66,005		6,948,346
Oil, Gas & Consumable Fuels—(Continued)
Exxon Mobil Corp.		29,887		2,229,869
Hess Corp.		40,682		2,059,323
Kinder Morgan, Inc.		564,048		8,494,563
Marathon Petroleum Corp.		101,853		7,446,473
Newfield Exploration Co. (b)		201,170		4,912,571
ONEOK, Inc.		90,239		5,136,404
Suncor Energy, Inc.		161,930		5,593,062
TransCanada Corp. (a)		145,746		6,020,767
WPX Energy, Inc. (a) (b)		107,904		1,594,821
				101,975,787
Personal Products—1.6%
Coty, Inc. - Class A (a)		1,201,414		21,985,876
Unilever NV		273,860		15,442,966
				37,428,842
Pharmaceuticals—4.5%
Aerie Pharmaceuticals, Inc. (a) (b)		40,981		2,223,219
Allergan plc		173,827		29,253,346
AstraZeneca plc (ADR) (a)		376,826		13,177,605
Bristol-Myers Squibb Co.		485,918		30,734,314
Clearside Biomedical, Inc. (b)		32,003		343,392
Dermira, Inc. (b)		184,685		1,475,633
Evolus, Inc. (a) (b)		38,351		346,310
Impax Laboratories, Inc. (a) (b)		210,795		4,099,963
Kala Pharmaceuticals, Inc. (a) (b)		59,000		933,970
Mylan NV (b)		362,966		14,943,310
MyoKardia, Inc. (a) (b)		50,784		2,478,259
Revance Therapeutics, Inc. (a) (b)		88,264		2,718,531
Teva Pharmaceutical Industries, Ltd. (ADR) (a)		373,886		6,389,712
				109,117,564
Professional Services—0.5%
Equifax, Inc.		48,099		5,666,543
TransUnion (b)		88,302		5,013,788
				10,680,331
Road & Rail—0.7%
Knight-Swift Transportation Holdings, Inc. (a)		20,453		941,042
Norfolk Southern Corp.		53,465		7,259,478
Union Pacific Corp.		69,349		9,322,586
				17,523,106
Semiconductors & Semiconductor Equipment—5.9%
Advanced Micro Devices, Inc. (a) (b)		1,060,246		10,655,472
Applied Materials, Inc.		172,043		9,567,311
Broadcom, Ltd.		90,859		21,410,924
KLA-Tencor Corp.		101,376		11,050,998
Marvell Technology Group, Ltd. (a)		751,663		15,784,923
Microchip Technology, Inc. (a)		171,581		15,675,640
Micron Technology, Inc. (b)		541,752		28,246,949
NVIDIA Corp.		82,685		19,149,019
Teradyne, Inc. (a)		227,259		10,388,009
				141,929,245

BHFTI-132

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Software—6.0%
Adobe Systems, Inc. (b)		50,797	$	10,976,216
Atlassian Corp. plc - Class A (b)		65,703		3,542,706
Autodesk, Inc. (b)		31,738		3,985,658
Guidewire Software, Inc. (a) (b)		52,603		4,251,900
HubSpot, Inc. (a) (b)		44,476		4,816,751
Microsoft Corp.		634,528		57,913,371
PTC, Inc. (b)		36,154		2,820,373
Salesforce.com, Inc. (b)		177,646		20,660,230
ServiceNow, Inc. (b)		56,672		9,376,382
Splunk, Inc. (a) (b)		23,618		2,323,775
SS&C Technologies Holdings, Inc. (a)		253,567		13,601,334
Workday, Inc. - Class A (a) (b)		76,797		9,761,667
				144,030,363
Specialty Retail—1.3%
National Vision Holdings, Inc. (a) (b)		349,519		11,292,959
TJX Cos., Inc. (The)		238,812		19,477,507
				30,770,466
Technology Hardware, Storage & Peripherals—0.8%
Apple, Inc.		47,934		8,042,367
NetApp, Inc.		177,912		10,975,391
				19,017,758
Textiles, Apparel & Luxury Goods—1.3%
NIKE, Inc. - Class B		310,137		20,605,502
Skechers USA, Inc. - Class A (b)		42,942		1,670,015
Tapestry, Inc.		71,741		3,774,294
Under Armour, Inc. - Class A (a) (b)		261,465		4,274,953
Under Armour, Inc. - Class C (a) (b)		87,509		1,255,754
				31,580,518
Tobacco—2.3%
Altria Group, Inc.		425,502		26,517,285
British American Tobacco plc (ADR)		385,479		22,238,283
Philip Morris International, Inc.		68,285		6,787,529
				55,543,097
Total Common Stocks (Cost $2,080,201,801)				2,392,628,679
Warrant—0.0%
Food Products—0.0%
Simply Good Foods Co. (The), Expires 07/07/22 (b) (Cost $313,044)		155,743		545,101

Short-Term Investment—1.0%
Security Description	Principal Amount*		Value
Repurchase Agreement—1.0%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $24,647,308; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $25,139,315.		24,645,665	$	24,645,665
Total Short-Term Investments (Cost $24,645,665)				24,645,665
Securities Lending Reinvestments (c)—12.2%
Certificates of Deposit—5.9%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (d)		7,000,000		6,999,510
2.354%, 1M LIBOR + 0.500%, 09/21/18 (d)		5,000,000		4,999,675
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (d)		8,000,000		7,996,512
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (d)		7,000,000		6,999,482
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (d)		2,500,000		2,499,920
Chiba Bank, Ltd., New York 1.740%, 04/11/18		2,000,000		1,999,846
China Construction Bank 1.950%, 04/20/18		7,000,000		6,999,272
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (d)		1,000,000		999,825
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		6,500,000		6,500,000
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (d)		5,000,000		4,999,440
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		4,000,000		3,999,832
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (d)		2,000,000		2,000,000
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		5,000,000		4,998,910
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		5,000,000		4,999,695
2.077%, 1M LIBOR + 0.200%, 05/30/18 (d)		1,500,000		1,499,751
Mizuho Bank, Ltd., New York 2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		7,000,000		6,999,412
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (d)		2,500,000		2,498,485
2.061%, 1M LIBOR + 0.200%, 07/23/18 (d)		6,000,000		5,997,132
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		4,000,000		4,000,396
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		12,000,000		11,977,080
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		8,000,000		7,999,336
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (d)		4,000,000		3,999,616
2.250%, 08/21/18		2,500,000		2,498,950
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (d)		3,000,000		2,999,838
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (d)		4,000,000		3,997,000

BHFTI-133

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp., New York 1.930%, 1M LIBOR + 0.190%, 04/12/18 (d)		5,000,000	$	4,999,785
2.000%, 05/21/18		4,000,000		4,000,020
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		4,000,000		3,999,968
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		7,000,000		6,999,377
				141,458,065
Commercial Paper—2.1%
Antalis S.A. 2.150%, 06/05/18		1,989,131		1,992,314
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		6,977,514		6,992,468
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (d)		10,000,000		9,996,440
La Fayette Asset Securitization LLC 2.170%, 06/08/18		7,954,189		7,967,368
Macquarie Bank, Ltd., London 2.020%, 05/16/18		5,970,037		5,984,814
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (d)		3,500,000		3,499,496
2.040%, 05/21/18		4,974,500		4,985,565
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (d)		4,000,000		3,999,876
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		6,000,000		5,999,136
				51,417,477
Repurchase Agreements—3.3%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $4,200,817; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $4,284,023.		4,200,000		4,200,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $2,400,467; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $2,448,006.		2,400,000		2,400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $2,200,440; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $2,244,015.		2,200,000		2,200,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,507,159; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,666,068.		1,500,000		1,500,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $5,005,175; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $5,553,560.		5,000,000		5,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $2,544,967; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,776,780.		2,500,000		2,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,132,611; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,155,046.		1,132,396		1,132,396
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $14,737,442; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $15,364,162.		14,200,000		14,200,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $5,102,828; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $6,742,350; collateralized by various Common Stock with an aggregate market value of $7,452,142.		6,700,000		6,700,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $4,003,494; collateralized by various Common Stock with an aggregate market value of $4,449,040.		4,000,000		4,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $3,703,864; collateralized by various Common Stock with an aggregate market value of $4,115,362.		3,700,000		3,700,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $2,000,396; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $5,006,319; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000

BHFTI-134

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $5,004,297; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000	$	5,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $5,003,033; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $10,002,528; collateralized by various Common Stock with an aggregate market value of $11,117,239.		10,000,000		10,000,000
				79,532,396
Time Deposits—0.9%
ABN AMRO Bank NV 1.680%, 04/02/18		12,000,000		12,000,000
Australia New Zealand Bank 1.670%, 04/02/18		2,000,000		2,000,000
DNB Bank ASA 1.640%, 04/02/18		2,000,000		2,000,000
DZ Bank AG 1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York 1.640%, 04/02/18		2,000,000		2,000,000
Time Deposits—(Continued)
Svenska Handelsbanken AB 1.640%, 04/02/18		2,000,000		2,000,000
				22,000,000
Total Securities Lending Reinvestments (Cost $294,456,887)				294,407,938
Total Investments—112.6% (Cost $2,399,617,397)				2,712,227,383
Other assets and liabilities (net)—(12.6)%				(304,191,763	)
Net Assets—100.0%			$	2,408,035,620

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $290,598,492 and the collateral received consisted of cash in the amount of $294,397,767. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-135

Brighthouse Funds Trust I

Brighthouse/Wellington Large Cap Research Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	2,392,628,679	$	—		$	—	$	2,392,628,679
Total Warrant*		545,101		—			—		545,101
Total Short-Term Investment*		—		24,645,665			—		24,645,665
Total Securities Lending Reinvestments*		—		294,407,938			—		294,407,938
Total Investments	$	2,393,173,780	$	319,053,603		$	—	$	2,712,227,383
Collateral for Securities Loaned (Liability)	$	—	$	(294,397,767	)	$	—	$	(294,397,767	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-136

Brighthouse Funds Trust I

Brighthouse Asset Allocation 100 Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—100.0% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—100.0%
Baillie Gifford International Stock Portfolio (Class A) (a)		4,655,026	$	62,330,794
BlackRock Capital Appreciation Portfolio (Class A) (a)		1,520,425		69,817,933
Brighthouse Small Cap Value Portfolio (Class A) (b)		1,913,417		31,877,532
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		5,424,571		62,002,851
Brighthouse/Artisan International Portfolio (Class A) (b)		5,893,390		66,595,306
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		104,718		26,497,922
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		5,274,240		80,168,452
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		3,067,968		97,960,227
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		4,211,522		67,215,892
Clarion Global Real Estate Portfolio (Class A) (b)		4,374,729		52,015,530
ClearBridge Aggressive Growth Portfolio (Class A) (b)		5,949,951		110,431,096
Frontier Mid Cap Growth Portfolio (Class A) (a)		680,832		26,532,004
Harris Oakmark International Portfolio (Class A) (b)		4,954,410		81,896,403
Invesco Comstock Portfolio (Class A) (b)		6,892,654		110,213,543
Invesco Small Cap Growth Portfolio (Class A) (b)		2,339,018		37,283,946
Jennison Growth Portfolio (Class A) (a)		5,897,560		104,327,837
JPMorgan Small Cap Value Portfolio (Class A) (b)		1,818,214		31,327,835
Loomis Sayles Small Cap Growth Portfolio (Class A) (a)		2,027,347		31,849,621
MFS Research International Portfolio (Class A) (b)		4,215,972		53,669,317
Affiliated Investment Companies—(Continued)
MFS Value Portfolio (Class A) (a)		6,247,857		100,777,935
MFS Value Portfolio II (Class A) (a)		1,436,608		13,173,692
Morgan Stanley Mid Cap Growth Portfolio (Class A) (b)		597,616		13,075,832
Neuberger Berman Genesis Portfolio (Class A) (a)		940,009		21,460,417
Oppenheimer Global Equity Portfolio (Class A) (b)		1,690,700		44,228,709
T. Rowe Price Large Cap Growth Portfolio (Class A) (a)		3,990,568		104,912,026
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		3,009,209		103,877,887
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		2,510,976		31,110,988
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		1,057,883		26,658,657
Van Eck Global Natural Resources Portfolio (Class A) (a)		6,672,742		68,128,696
Victory Sycamore Mid Cap Value Portfolio (Class A) (b)		429,948		8,882,734
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		1,413,388		17,455,346
Total Mutual Funds (Cost $1,478,293,177)				1,757,756,960
Total Investments—100.0% (Cost $1,478,293,177)				1,757,756,960
Other assets and liabilities (net)—0.0%				(565,209	)
Net Assets—100.0%			$	1,757,191,751

(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	1,757,756,960	$	—	$	—	$	1,757,756,960
Total Investments	$	1,757,756,960	$	—	$	—	$	1,757,756,960

BHFTI-137

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—70.1% of Net Assets

Security Description	Shares		Value
Affiliated Investment Companies—70.1%
Baillie Gifford International Stock Portfolio (Class A) (a)		22,657,196	$	303,379,853
BlackRock Bond Income Portfolio (Class A) (a)		7,985,833		843,383,855
BlackRock Capital Appreciation Portfolio (Class A) (a)		1,296,856		59,551,633
BlackRock High Yield Portfolio (Class A) (b)		15,455,473		120,398,134
Brighthouse Small Cap Value Portfolio (Class A) (b)		7,295,775		121,547,615
Brighthouse/Aberdeen Emerging Markets Equity Portfolio (Class A) (b)		14,799,280		169,155,773
Brighthouse/Artisan International Portfolio (Class A) (b)		21,433,487		242,198,402
Brighthouse/Artisan Mid Cap Value Portfolio (Class A) (a)		718,764		181,876,078
Brighthouse/Dimensional International Small Company Portfolio (Class A) (a)		11,195,174		170,166,637
Brighthouse/Eaton Vance Floating Rate Portfolio (Class A) (b)		17,303,692		181,688,766
Brighthouse/Franklin Low Duration Total Return Portfolio (Class A) (b)		31,426,466		301,694,070
Brighthouse/Templeton International Bond Portfolio (Class A) (b)		29,607,025		301,991,660
Brighthouse/Wellington Core Equity Opportunities Portfolio (Class A) (a)		1,902,054		60,732,576
Brighthouse/Wellington Large Cap Research Portfolio (Class A) (b)		3,762,514		60,049,722
Clarion Global Real Estate Portfolio (Class A) (b)		8,866,685		105,424,888
ClearBridge Aggressive Growth Portfolio (Class A) (b)		3,238,096		60,099,069
Frontier Mid Cap Growth Portfolio (Class A) (a)		4,020,626		156,683,792
Harris Oakmark International Portfolio (Class A) (b)		25,028,734		413,724,978
Invesco Comstock Portfolio (Class A) (b)		3,763,584		60,179,713
Invesco Small Cap Growth Portfolio (Class A) (b)		5,706,123		90,955,599
Jennison Growth Portfolio (Class A) (a)		4,022,635		71,160,407
JPMorgan Core Bond Portfolio (Class A) (b)		59,339,853		603,486,304
JPMorgan Small Cap Value Portfolio (Class A) (b)		5,246,499		90,397,171
MFS Research International Portfolio (Class A) (b)		23,870,344		303,869,483
MFS Value Portfolio (Class A) (a)		3,711,537		59,867,094
Morgan Stanley Mid Cap Growth Portfolio (Class A) (b)		2,718,489		59,480,544
Neuberger Berman Genesis Portfolio (Class A) (a)		3,726,827		85,083,466
Oppenheimer Global Equity Portfolio (Class A) (b)		4,584,868		119,940,146
PIMCO Inflation Protected Bond Portfolio (Class A) (b)		24,467,578		241,739,674
PIMCO Total Return Portfolio (Class A) (b)		58,055,845		663,578,310
T. Rowe Price Large Cap Value Portfolio (Class A) (b)		1,737,946		59,993,884
T. Rowe Price Mid Cap Growth Portfolio (Class A) (b)		9,786,108		121,249,875
T. Rowe Price Small Cap Growth Portfolio (Class A) (a)		4,808,594		121,176,575
TCW Core Fixed Income Portfolio (Class A) (b)		65,799,127		663,913,189
Van Eck Global Natural Resources Portfolio (Class A) (a)		16,402,082		167,465,257
Wells Capital Management Mid Cap Value Portfolio (Class A) (b)		14,727,918		181,889,786
Western Asset Management Strategic Bond Opportunities Portfolio (Class A) (a)		28,689,065		396,482,872
Western Asset Management U.S. Government Portfolio (Class A) (a)		36,550,820		422,527,478
Total Mutual Funds (Cost $8,075,727,492)				8,438,184,328
U.S. Treasury & Government Agencies—28.6%
Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—1.9%
Fannie Mae 30 Yr. Pool 3.500%, TBA (c)		215,000,000		215,356,152
Fannie Mae Pool 2.920%, 03/01/35		2,950,000		2,698,961
3.180%, 07/01/35		2,811,011		2,699,297
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 3.176%, 11/25/28		7,467,933		7,499,580
				228,253,990
Federal Agencies—1.5%
Federal Home Loan Mortgage Corp. 2.375%, 01/13/22		10,500,000		10,425,345
6.250%, 07/15/32		30,000,000		40,875,210
Federal National Mortgage Association 1.875%, 09/24/26		36,006,000		33,184,786
6.625%, 11/15/30		19,200,000		26,288,429
Residual Funding Corp. Principal Strip Zero Coupon, 10/15/19		24,600,000		23,750,237
Zero Coupon, 07/15/20		18,900,000		17,864,026
Zero Coupon, 04/15/30		19,500,000		13,294,107
Tennessee Valley Authority 2.875%, 02/01/27		1,700,000		1,686,573
4.250%, 09/15/65		10,000,000		11,585,380
				178,954,093
U.S. Treasury—25.2%
U.S. Treasury Bonds 2.250%, 08/15/46		32,500,000		27,994,434
2.500%, 02/15/46		87,700,000		79,817,278
2.500%, 05/15/46		21,000,000		19,096,875
2.750%, 08/15/42		29,400,000		28,405,453
2.750%, 11/15/42		196,000,000		189,185,939
2.750%, 11/15/47 (d)		44,000,000		42,062,969
2.875%, 05/15/43		126,000,000		124,198,593
2.875%, 08/15/45		51,300,000		50,378,203
2.875%, 11/15/46		114,100,000		111,898,226
3.000%, 11/15/44		96,000,000		96,637,500
3.000%, 02/15/47		96,900,000		97,414,781
3.000%, 05/15/47		95,000,000		95,463,867
3.125%, 02/15/42		93,900,000		97,017,773
3.125%, 02/15/43		89,700,000		92,464,582
3.125%, 08/15/44		13,100,000		13,489,930
3.375%, 05/15/44		99,895,000		107,430,049
3.625%, 08/15/43		25,200,000		28,211,203
4.250%, 11/15/40		177,700,000		216,946,712
4.375%, 05/15/40		31,300,000		38,800,996
4.375%, 05/15/41		51,000,000		63,473,086
4.625%, 02/15/40		113,700,000		145,487,144
8.000%, 11/15/21 (e)		57,700,000		68,730,617
U.S. Treasury Inflation Indexed Bonds 0.750%, 02/15/45 (f)		3,788,676		3,652,913
2.000%, 01/15/26 (f)		4,744,756		5,239,321
3.625%, 04/15/28 (f)		6,128,920		7,857,256

BHFTI-138

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes 1.125%, 02/28/21		125,000,000	$	120,546,875
1.250%, 03/31/21 (e)		116,600,000		112,737,625
1.375%, 02/15/20		267,700,000		263,234,847
1.500%, 03/31/23		85,000,000		80,750,000
2.000%, 01/31/20 (d)		300,000,000		298,570,314
2.000%, 05/31/21		137,500,000		135,711,426
2.125%, 12/31/21 (e)		111,000,000		109,608,164
2.125%, 12/31/22 (d)		20,000,000		19,614,844
2.625%, 02/28/23		47,000,000		47,143,203
				3,039,272,998
Total U.S. Treasury & Government Agencies (Cost $3,481,189,084)				3,446,481,081
Corporate Bonds & Notes—2.2%
Agriculture—0.1%
Philip Morris International, Inc. 6.375%, 05/16/38		5,000,000		6,442,155
Reynolds American, Inc. 2.300%, 06/12/18		1,200,000		1,199,390
				7,641,545
Auto Manufacturers—0.1%
Ford Motor Credit Co. LLC 3.025%, 3M LIBOR + 0.900%, 06/15/18 (g)		10,000,000		10,008,470
Banks—1.4%
Bank of America Corp. 6.875%, 04/25/18		5,900,000		5,915,291
6.875%, 11/15/18		600,000		615,641
Bank of New York Mellon Corp. (The) 4.950%, 3M LIBOR + 3.420%, 06/20/20 (g)		6,800,000		6,962,384
Cooperatieve Rabobank UA 3.375%, 05/21/25		5,000,000		4,940,640
Credit Suisse AG 2.300%, 05/28/19		10,700,000		10,631,810
Goldman Sachs Group, Inc. (The) 3.325%, 3M LIBOR + 1.200%, 09/15/20 (g)		18,800,000		19,096,834
HSBC Holdings plc 5.250%, 03/14/44		3,000,000		3,300,210
HSBC USA, Inc. 2.430%, 3M LIBOR + 0.610%, 11/13/19 (g)		20,000,000		20,104,449
JPMorgan Chase & Co. 2.295%, 3M LIBOR + 0.550%, 04/25/18 (g)		20,000,000		20,003,636
2.700%, 3M LIBOR + 0.955%, 01/23/20 (g)		20,000,000		20,242,084
6.125%, 3M LIBOR + 3.330%, 04/30/24 (g)		3,000,000		3,142,500
Mizuho Financial Group, Inc. 2.632%, 04/12/21 (144A)		5,200,000		5,094,275
PNC Bank N.A. 2.250%, 07/02/19		8,000,000		7,947,025
2.426%, 3M LIBOR + 0.420%, 06/01/18 (g)		15,000,000		15,004,907
Wells Fargo & Co. 5.900%, 3M LIBOR + 3.110%, 06/15/24 (g)		8,600,000		8,858,860
Banks—(Continued)
Westpac Banking Corp. 2.374%, 3M LIBOR + 0.430%, 05/25/18 (g)		15,000,000		15,005,345
				166,865,891
Biotechnology—0.1%
Amgen, Inc. 2.700%, 05/01/22		3,300,000		3,224,027
Baxalta, Inc. 3.028%, 3M LIBOR + 0.780%, 06/22/18 (g)		8,500,000		8,508,537
				11,732,564
Diversified Financial Services—0.1%
American Express Credit Corp. 2.728%, 3M LIBOR + 0.550%, 03/18/19 (g)		5,000,000		5,015,427
Navient Corp. 8.450%, 06/15/18		5,840,000		5,889,640
				10,905,067
Electric—0.1%
Electricite de France S.A. 2.150%, 01/22/19 (144A)		6,200,000		6,170,789
Ohio Power Co. 5.375%, 10/01/21		949,000		1,021,246
				7,192,035
Insurance—0.0%
MassMutual Global Funding II 2.500%, 10/17/22 (144A)		4,000,000		3,881,182
Miscellaneous Manufacturing—0.1%
Siemens Financieringsmaatschappij NV 2.224%, 3M LIBOR + 0.280%, 05/25/18 (144A) (g)		15,000,000		15,001,967
Oil & Gas—0.1%
Gazprom OAO Via Gaz Capital S.A. 9.250%, 04/23/19 (144A)		4,200,000		4,450,866
Statoil ASA 2.450%, 01/17/23		5,400,000		5,230,781
				9,681,647
Pharmaceuticals—0.0%
Forest Laboratories LLC 4.875%, 02/15/21 (144A)		5,000,000		5,167,735
Semiconductors—0.1%
QUALCOMM, Inc. 2.155%, 3M LIBOR + 0.270%, 05/18/18 (g)		10,000,000		10,001,261
Software—0.0%
Microsoft Corp. 3.500%, 11/15/42		4,500,000		4,325,868

BHFTI-139

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—0.0%
AT&T, Inc. 4.800%, 06/15/44		3,000,000	$	2,928,196
Transportation—0.0%
Vessel Management Services, Inc. 3.432%, 08/15/36		3,015,000		2,970,027
Total Corporate Bonds & Notes (Cost $267,657,036)				268,303,455
Mortgage-Backed Securities—0.2%
Commercial Mortgage-Backed Securities—0.2%
CSMC Trust 3.953%, 09/15/37 (144A)		20,000,000		20,401,682
JPMorgan Chase Commercial Mortgage Securities Trust 4.106%, 07/15/46 (144A)		59,538		59,553
Total Mortgage-Backed Securities (Cost $20,659,973)				20,461,235
Municipals—0.1%
Los Angeles Community College District, Build America Bond 6.750%, 08/01/49		400,000		592,576
Port Authority of New York & New Jersey 4.458%, 10/01/62		1,845,000		2,018,983
University of California CA, Revenue 1.796%, 07/01/19		8,500,000		8,462,685
Total Municipals (Cost $11,012,922)				11,074,244
Short-Term Investment—0.1%
Security Description	Principal Amount*		Value
Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $5,356,821; collateralized by a U.S. Treasury Note at 1.500%, maturing 01/31/19, with a market value of $5,464,683.		5,356,464		5,356,464
Total Short-Term Investments (Cost $5,356,464)				5,356,464
Total Investments—101.3% (Cost $11,861,602,971)				12,189,860,807
Other assets and liabilities (net)—(1.3)%				(157,668,579	)
Net Assets—100.0%			$	12,032,192,228

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	A Portfolio of Brighthouse Funds Trust I.
(c)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(d)	All or a portion of this security has been transferred in a secured-borrowing transaction. (See Note 2 of the Notes to Financial Statements)
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $163,275,948.
(f)	Principal amount of security is adjusted for inflation.
(g)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $60,228,049, which is 0.5% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Depreciation
JPY	20,900,000	JPMC		04/04/18		USD	196,041	$	(390	)

BHFTI-140

Brighthouse Funds Trust I

Brighthouse Balanced Plus Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-Mini Futures		06/15/18		27,277		USD	3,604,655,550	$	(151,781,873	)
U.S. Treasury Note 5 Year Futures		06/29/18		2,482		USD	284,092,048		915,623
Net Unrealized Depreciation								$	(150,866,250	)

Glossary of Abbreviations

Counterparties

(JPMC)— JPMorgan Chase Bank N.A.

Currencies

(JPY)—	Japanese Yen
(USD)—	United States Dollar

Index Abbreviations

(LIBOR)— London InterBank Offered Rate

Other Abbreviations

(CMO)— Collateralized Mortgage Obligation

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total Mutual Funds*	$	8,438,184,328		$	—		$	—	$	8,438,184,328
Total U.S. Treasury & Government Agencies*		—			3,446,481,081			—		3,446,481,081
Total Corporate Bonds & Notes*		—			268,303,455			—		268,303,455
Total Mortgage-Backed Securities*		—			20,461,235			—		20,461,235
Total Municipals		—			11,074,244			—		11,074,244
Total Short-Term Investment*		—			5,356,464			—		5,356,464
Total Investments	$	8,438,184,328		$	3,751,676,479		$	—	$	12,189,860,807
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)	$	—		$	(390	)	$	—	$	(390	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	915,623		$	—		$	—	$	915,623
Futures Contracts (Unrealized Depreciation)		(151,781,873	)		—			—		(151,781,873	)
Total Futures Contracts	$	(150,866,250	)	$	—		$	—	$	(150,866,250	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-141

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.4%
KLX, Inc. (a)		56,100	$	3,986,466
Auto Components—0.5%
Standard Motor Products, Inc.		41,700		1,983,669
Tenneco, Inc.		54,800		3,006,876
				4,990,545
Banks—16.0%
Associated Banc-Corp. (b)		295,825		7,351,251
Bank of Hawaii Corp.		75,500		6,274,050
Bank of NT Butterfield & Son, Ltd. (The)		28,500		1,279,080
Boston Private Financial Holdings, Inc.		254,500		3,830,225
Community Bank System, Inc. (b)		91,500		4,900,740
East West Bancorp, Inc.		249,800		15,622,492
First Citizens BancShares, Inc. - Class A		31,451		12,996,811
First Financial Bancorp (b)		214,100		6,283,835
First Interstate BancSystem, Inc. - Class A		104,200		4,121,110
First Midwest Bancorp, Inc.		210,300		5,171,277
Great Western Bancorp, Inc.		171,100		6,890,197
Hancock Holding Co. (b)		325,682		16,837,760
Iberiabank Corp. (b)		66,086		5,154,708
Independent Bank Corp./Rockland Trust		21,000		1,502,550
NBT Bancorp, Inc.		115,100		4,083,748
Prosperity Bancshares, Inc.		75,300		5,469,039
Renasant Corp. (b)		197,312		8,397,599
S&T Bancorp, Inc.		91,400		3,650,516
South State Corp.		20,017		1,707,450
UMB Financial Corp. (b)		156,233		11,309,707
Umpqua Holdings Corp.		291,800		6,247,438
Valley National Bancorp		454,600		5,664,316
Webster Financial Corp.		175,600		9,728,240
WesBanco, Inc.		114,000		4,822,200
				159,296,339
Beverages—0.5%
Cott Corp.		301,891		4,443,836
Building Products—2.9%
CSW Industrials, Inc. (a)		158,253		7,129,298
Griffon Corp.		33,629		613,729
Quanex Building Products Corp.		37,338		649,681
Simpson Manufacturing Co., Inc. (b)		249,300		14,357,187
USG Corp. (a)		158,100		6,390,402
				29,140,297
Capital Markets—3.0%
Apollo Investment Corp. (b)		532,028		2,777,186
Artisan Partners Asset Management, Inc. - Class A		176,117		5,864,696
Legg Mason, Inc. (b)		80,300		3,264,195
Main Street Capital Corp. (b)		75,500		2,785,950
New Mountain Finance Corp. (b)		230,123		3,026,118
Stifel Financial Corp.		111,700		6,615,991
Westwood Holdings Group, Inc.		101,125		5,712,551
				30,046,687
Chemicals—6.9%
A. Schulman, Inc.		128,081		5,507,483
HB Fuller Co.		126,900		6,310,737
Innophos Holdings, Inc.		23,955		963,231
Innospec, Inc. (b)		161,225		11,060,035
KMG Chemicals, Inc.		112,303		6,732,565
Minerals Technologies, Inc.		35,189		2,355,903
Olin Corp.		271,600		8,253,924
PolyOne Corp.		70,025		2,977,463
PQ Group Holdings, Inc. (a)		137,000		1,913,890
Quaker Chemical Corp.		25,341		3,753,762
Scotts Miracle-Gro Co. (The) (b)		33,100		2,838,325
Sensient Technologies Corp. (b)		78,374		5,531,637
Trinseo S.A.		107,500		7,960,375
Venator Materials plc (a)		102,600		1,856,034
				68,015,364
Commercial Services & Supplies—3.9%
ACCO Brands Corp.		339,859		4,265,231
Brady Corp. - Class A		146,009		5,424,234
Deluxe Corp. (b)		141,132		10,445,179
Ennis, Inc.		331,676		6,534,017
Knoll, Inc.		152,052		3,069,930
LSC Communications, Inc. (b)		63,978		1,116,416
UniFirst Corp.		22,400		3,620,960
Viad Corp.		84,495		4,431,763
				38,907,730
Communications Equipment—1.6%
CommScope Holding Co., Inc. (a) (b)		164,090		6,558,677
NETGEAR, Inc. (a) (b)		68,215		3,901,898
NetScout Systems, Inc. (a) (b)		120,190		3,167,007
Viavi Solutions, Inc. (a)		218,000		2,118,960
				15,746,542
Construction & Engineering—1.3%
MasTec, Inc. (a)		202,475		9,526,449
Primoris Services Corp.		142,000		3,547,160
				13,073,609
Construction Materials—1.0%
Eagle Materials, Inc.		96,687		9,963,595
Containers & Packaging—1.9%
Berry Global Group, Inc. (a)		193,603		10,611,380
Silgan Holdings, Inc. (b)		277,947		7,740,824
				18,352,204
Distributors—0.2%
Core-Mark Holding Co., Inc. (b)		76,199		1,619,991
Diversified Consumer Services—0.4%
Liberty Tax, Inc.		70,299		710,020
Service Corp. International		85,400		3,222,996
				3,933,016

BHFTI-142

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Telecommunication Services—0.1%
Consolidated Communications Holdings, Inc. (b)		114,748	$	1,257,638
Electric Utilities—2.2%
ALLETE, Inc.		47,500		3,431,875
El Paso Electric Co.		88,300		4,503,300
Hawaiian Electric Industries, Inc. (b)		267,279		9,189,052
IDACORP, Inc. (b)		52,247		4,611,843
				21,736,070
Electrical Equipment—1.4%
Atkore International Group, Inc. (a)		378,125		7,505,781
EnerSys		87,450		6,066,407
				13,572,188
Electronic Equipment, Instruments & Components—3.7%
AVX Corp. (b)		211,179		3,495,012
Badger Meter, Inc. (b)		40,544		1,911,650
Belden, Inc. (b)		120,039		8,275,489
Novanta, Inc. (a)		119,803		6,247,726
Orbotech, Ltd. (a)		67,257		4,182,040
Tech Data Corp. (a)		52,076		4,433,230
TTM Technologies, Inc. (a)		176,776		2,702,905
Vishay Intertechnology, Inc. (b)		298,400		5,550,240
				36,798,292
Energy Equipment & Services—2.7%
C&J Energy Services, Inc. (a)		118,165		3,051,020
Dril-Quip, Inc. (a) (b)		53,500		2,396,800
Forum Energy Technologies, Inc. (a) (b)		27,160		298,760
Frank’s International NV		128,967		700,291
Helix Energy Solutions Group, Inc. (a)		335,600		1,943,124
Oil States International, Inc. (a) (b)		119,445		3,129,459
Patterson-UTI Energy, Inc.		564,008		9,875,780
Rowan Cos. plc - Class A (a)		256,200		2,956,548
TETRA Technologies, Inc. (a)		546,498		2,049,368
U.S. Silica Holdings, Inc. (b)		30,062		767,182
				27,168,332
Equity Real Estate Investment Trusts—5.6%
Acadia Realty Trust (b)		70,756		1,740,598
Brandywine Realty Trust		333,700		5,299,156
Education Realty Trust, Inc. (b)		77,567		2,540,319
Gramercy Property Trust (b)		224,497		4,878,320
Healthcare Realty Trust, Inc.		129,700		3,593,987
Highwoods Properties, Inc.		107,500		4,710,650
LaSalle Hotel Properties (b)		252,028		7,311,332
Lexington Realty Trust		427,800		3,366,786
Life Storage, Inc.		41,600		3,474,432
Outfront Media, Inc.		224,400		4,205,256
Ramco-Gershenson Properties Trust		228,700		2,826,732
Summit Hotel Properties, Inc.		263,800		3,590,318
Washington Real Estate Investment Trust		304,794		8,320,876
				55,858,762
Food & Staples Retailing—0.2%
SUPERVALU, Inc. (a) (b)		102,221		1,556,826
Food Products—1.9%
Hostess Brands, Inc. (a) (b)		112,035		1,656,997
J&J Snack Foods Corp.		28,000		3,823,680
Nomad Foods, Ltd. (a)		461,723		7,267,520
Pinnacle Foods, Inc.		57,400		3,105,340
TreeHouse Foods, Inc. (a)		85,710		3,280,122
				19,133,659
Gas Utilities—0.5%
Southwest Gas Holdings, Inc.		70,600		4,774,678
Health Care Equipment & Supplies—2.7%
Analogic Corp.		88,210		8,459,339
Haemonetics Corp. (a)		87,643		6,411,962
Halyard Health, Inc. (a)		80,100		3,691,008
STERIS plc		63,000		5,881,680
Teleflex, Inc.		7,200		1,835,856
				26,279,845
Health Care Providers & Services—0.3%
Patterson Cos., Inc. (b)		150,289		3,340,924
Hotels, Restaurants & Leisure—4.3%
Cheesecake Factory, Inc. (The) (b)		67,500		3,254,850
Choice Hotels International, Inc.		67,000		5,370,050
Denny’s Corp. (a)		668,445		10,314,106
Dine Brands Global, Inc.		122,651		8,043,453
International Speedway Corp. - Class A		83,600		3,686,760
Sonic Corp. (b)		130,000		3,279,900
Texas Roadhouse, Inc.		41,600		2,403,648
Wendy’s Co. (The)		361,918		6,351,661
				42,704,428
Household Durables—1.3%
Dixie Group, Inc. (The) (a)		194,365		534,504
Helen of Troy, Ltd. (a)		83,302		7,247,274
Meritage Homes Corp. (a)		121,500		5,497,875
				13,279,653
Household Products—1.7%
Central Garden and Pet Co. (a) (b)		132,341		5,690,663
Central Garden and Pet Co. - Class A (a)		8,373		331,655
HRG Group, Inc. (a) (b)		638,749		10,532,971
				16,555,289
Insurance—4.7%
American Equity Investment Life Holding Co.		199,400		5,854,384
Aspen Insurance Holdings, Ltd. (b)		109,350		4,904,347
Hanover Insurance Group, Inc. (The)		58,200		6,861,198
Infinity Property & Casualty Corp.		15,800		1,870,720
ProAssurance Corp. (b)		132,723		6,443,702
Selective Insurance Group, Inc.		156,400		9,493,480
Stewart Information Services Corp. (b)		133,428		5,862,826

BHFTI-143

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Validus Holdings, Ltd.		85,973	$	5,798,879
				47,089,536
IT Services—0.9%
Conduent, Inc. (a)		195,864		3,650,905
Sykes Enterprises, Inc. (a)		175,675		5,084,034
				8,734,939
Machinery—6.8%
Altra Industrial Motion Corp.		91,500		4,204,425
Barnes Group, Inc.		76,300		4,569,607
Douglas Dynamics, Inc. (b)		174,133		7,548,666
EnPro Industries, Inc.		44,100		3,412,458
Franklin Electric Co., Inc.		199,555		8,131,866
Global Brass & Copper Holdings, Inc.		158,423		5,299,249
Hillenbrand, Inc.		140,791		6,462,307
ITT, Inc.		183,300		8,978,034
Kadant, Inc.		64,862		6,129,459
Mueller Industries, Inc.		379,567		9,929,473
NN, Inc. (b)		56,435		1,354,440
Rexnord Corp. (a)		52,357		1,553,956
				67,573,940
Marine—0.3%
Kirby Corp. (a) (b)		33,400		2,570,130
Media—2.0%
AH Belo Corp. - Class A		433,328		2,231,639
Cable One, Inc.		6,100		4,191,371
Cinemark Holdings, Inc. (b)		78,900		2,972,163
Gannett Co., Inc. (b)		221,479		2,210,361
Meredith Corp. (b)		74,700		4,018,860
New Media Investment Group, Inc. (b)		220,024		3,771,211
				19,395,605
Metals & Mining—0.4%
Compass Minerals International, Inc. (b)		72,969		4,400,031
Mortgage Real Estate Investment Trusts—0.4%
Apollo Commercial Real Estate Finance, Inc. (b)		216,481		3,892,328
Multi-Utilities—0.4%
Black Hills Corp. (b)		81,500		4,425,450
Oil, Gas & Consumable Fuels—2.4%
Andeavor		34,119		3,431,006
Laredo Petroleum, Inc. (a) (b)		191,745		1,670,099
Oasis Petroleum, Inc. (a)		348,900		2,826,090
QEP Resources, Inc. (a) (b)		319,425		3,127,171
SM Energy Co.		221,000		3,984,630
Whiting Petroleum Corp. (a) (b)		50,199		1,698,734
WPX Energy, Inc. (a)		500,192		7,392,838
				24,130,568
Paper & Forest Products—1.7%
Neenah, Inc. (b)		146,372		11,475,565
Schweitzer-Mauduit International, Inc.		134,624		5,270,529
				16,746,094
Pharmaceuticals—1.0%
Catalent, Inc. (a)		58,500		2,402,010
Innoviva, Inc. (a) (b)		156,987		2,616,973
Prestige Brands Holdings, Inc. (a) (b)		134,491		4,535,037
				9,554,020
Professional Services—0.5%
Korn/Ferry International		102,762		5,301,492
Road & Rail—0.8%
Saia, Inc. (a)		42,300		3,178,845
Werner Enterprises, Inc. (b)		131,500		4,799,750
				7,978,595
Semiconductors & Semiconductor Equipment—2.5%
Cirrus Logic, Inc. (a)		61,000		2,478,430
DSP Group, Inc. (a)		155,208		1,831,454
MaxLinear, Inc. (a) (b)		120,700		2,745,925
ON Semiconductor Corp. (a)		249,100		6,092,986
Teradyne, Inc.		155,800		7,121,618
Tower Semiconductor, Ltd. (U.S. Listed Shares) (a)		171,900		4,625,829
				24,896,242
Software—1.3%
PTC, Inc. (a)		40,600		3,167,206
Synopsys, Inc. (a)		115,200		9,589,248
				12,756,454
Specialty Retail—0.5%
Asbury Automotive Group, Inc. (a)		31,100		2,099,250
Buckle, Inc. (The) (b)		91,192		2,019,903
Christopher & Banks Corp. (a)		447,352		478,667
Signet Jewelers, Ltd.		20,816		801,832
				5,399,652
Technology Hardware, Storage & Peripherals—0.8%
GlassBridge Enterprises, Inc. (a) (b) (c)		114,401		118,977
NCR Corp. (a) (b)		178,963		5,640,914
Super Micro Computer, Inc. (a) (b)		155,600		2,645,200
				8,405,091
Textiles, Apparel & Luxury Goods—1.5%
Delta Apparel, Inc. (a)		128,457		2,314,795
Steven Madden, Ltd. (b)		195,720		8,592,108
Wolverine World Wide, Inc.		139,000		4,017,100
				14,924,003
Trading Companies & Distributors—0.7%
H&E Equipment Services, Inc.		117,017		4,503,984

BHFTI-144

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—(Continued)
WESCO International, Inc. (a)		39,600	$	2,457,180
				6,961,164
Total Common Stocks (Cost $832,243,332)				980,668,139
Preferred Stock—0.4%
Diversified Financial Services—0.4%
Steel Partners Holdings L.P., 6.000%, 02/07/26 (Cost $5,759,901)		184,969		3,775,217
Short-Term Investment—0.8%
Repurchase Agreement—0.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $7,915,766; collateralized by a U.S. Treasury Note at 3.500%, maturing 05/15/20, with a market value of $8,076,586.		7,915,238		7,915,238
Total Short-Term Investments (Cost $7,915,238)				7,915,238
Securities Lending Reinvestments (d)—13.2%
Certificates of Deposit—8.6%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (e)		2,000,000		1,999,860
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (e)		4,000,000		3,998,256
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (e)		5,500,000		5,499,593
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (e)		1,000,000		1,000,024
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (e)		3,000,000		2,999,904
China Construction Bank 1.950%, 04/20/18		4,000,000		3,999,584
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (e)		6,000,000		5,998,950
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (e)		3,250,000		3,250,000
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		2,500,000		2,499,895
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (e)		3,500,000		3,500,000
Mitsubishi UFJ Trust and Banking Corp. 1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		3,000,000		2,999,817
2.077%, 1M LIBOR + 0.200%, 05/30/18 (e)		1,000,000		999,834
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (e)		1,500,000		1,500,033
2.008%, 1M LIBOR + 0.200%, 04/18/18 (e)		1,500,000		1,499,979
2.077%, 1M LIBOR + 0.200%, 05/29/18 (e)		1,000,000		999,916
Certificates of Deposit—(Continued)
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (e)		2,000,000		1,999,828
2.220%, 06/11/18		2,500,000		2,500,415
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (e)		2,000,000		1,998,788
2.061%, 1M LIBOR + 0.200%, 07/23/18 (e)		2,000,000		1,999,044
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		2,000,000		2,000,198
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (e)		2,500,000		2,495,225
2.201%, 3M LIBOR + 0.130%, 06/12/18 (e)		3,000,000		2,998,989
2.301%, 1M LIBOR + 0.440%, 09/17/18 (e)		500,000		499,930
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (e)		3,000,000		2,999,751
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (e)		1,000,000		999,904
2.250%, 08/21/18		3,000,000		2,998,740
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (e)		1,500,000		1,499,919
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (e)		1,500,000		1,498,875
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (e)		1,500,000		1,499,946
1.930%, 1M LIBOR + 0.190%, 04/12/18 (e)		2,000,000		1,999,914
2.000%, 05/21/18		1,000,000		1,000,005
2.010%, 1M LIBOR + 0.270%, 09/10/18 (e)		3,500,000		3,498,953
2.062%, 1M LIBOR + 0.190%, 04/26/18 (e)		1,500,000		1,499,988
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (e)		3,000,000		2,999,916
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (e)		3,500,000		3,499,688
				85,233,661
Commercial Paper—2.4%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (e)		2,000,000		1,999,818
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		3,987,151		3,995,696
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (e)		2,500,000		2,499,110
LMA S.A. & LMA Americas 2.150%, 06/04/18		5,966,317		5,976,240
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (e)		2,000,000		1,999,712
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (e)		3,000,000		2,999,907
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (e)		4,000,000		3,999,424
				23,469,907

BHFTI-145

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—1.9%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $516,106; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000	$	500,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $73,376; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $74,830.		73,362		73,362
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $41,557; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $42,380.		41,549		41,549
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $39,753; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $40,540.		39,745		39,745
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $602,864; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $666,427.		600,000		600,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $2,544,967; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,776,780.		2,500,000		2,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,067,429; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,108,381.		2,067,036		2,067,036
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,075,696; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,163,966.		2,000,000		2,000,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $3,571,979; collateralized by various Common Stock with an aggregate market value of $3,850,000.		3,500,000		3,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $3,520,841; collateralized by various Common Stock with an aggregate market value of $3,851,242.		3,500,000		3,500,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $503,160; collateralized by various Common Stock with an aggregate market value of $556,130.		500,000		500,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $3,003,133; collateralized by various Common Stock with an aggregate market value of $3,336,780.		3,000,000		3,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				19,321,692
Time Deposit—0.3%
ABN AMRO Bank NV 1.680%, 04/02/18		3,000,000		3,000,000
Total Securities Lending Reinvestments (Cost $131,045,197)				131,025,260
Total Investments—113.1% (Cost $976,963,668)				1,123,383,854
Other assets and liabilities (net)—(13.1)%				(130,382,019	)
Net Assets—100.0%			$	993,001,835

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $128,331,854 and the collateral received consisted of cash in the amount of $131,025,160. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Illiquid security. As of March 31, 2018, these securities represent 0.0% of net assets.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-146

Brighthouse Funds Trust I

Brighthouse Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	980,668,139	$	—		$	—	$	980,668,139
Total Preferred Stock*		3,775,217		—			—		3,775,217
Total Short-Term Investment*		—		7,915,238			—		7,915,238
Total Securities Lending Reinvestments*		—		131,025,260			—		131,025,260
Total Investments	$	984,443,356	$	138,940,498		$	—	$	1,123,383,854
Collateral for Securities Loaned (Liability)	$	—	$	(131,025,160	)	$	—	$	(131,025,160	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-147

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Australia—5.1%
Dexus (REIT)		1,793,838	$	12,898,989
Goodman Group (REIT)		763,443		4,961,757
GPT Group (The) (REIT)		3,024,985		11,059,231
Mirvac Group (REIT)		11,146,044		18,488,082
Scentre Group (REIT)		8,317,717		24,570,926
				71,978,985
Canada—2.1%
Canadian Real Estate Investment Trust (REIT)		220,400		8,589,502
Chartwell Retirement Residences		471,600		5,728,676
H&R Real Estate Investment Trust (REIT)		377,700		6,165,274
Smart Real Estate Investment Trust (REIT)		367,300		8,299,067
				28,782,519
France—5.9%
Gecina S.A. (REIT)		138,075		23,998,796
Klepierre (REIT)		608,485		24,552,355
Unibail-Rodamco SE (Euronext Paris) (REIT) (a)		101,472		23,179,552
Unibail-Rodamco SE (REIT)		50,248		11,502,118
				83,232,821
Germany—4.4%
ADO Properties S.A.		217,026		12,208,732
Aroundtown S.A.		1,465,773		11,364,109
Vonovia SE		781,028		38,732,944
				62,305,785
Hong Kong—9.6%
CK Asset Holdings, Ltd.		7,010,500		59,323,613
Fortune Real Estate Investment Trust (REIT)		2,581,680		3,136,567
Hysan Development Co., Ltd.		1,249,000		6,628,941
Link REIT (The) (REIT)		4,834,200		41,459,865
Sun Hung Kai Properties, Ltd.		1,538,000		24,500,167
				135,049,153
Japan—12.0%
AEON REIT Investment Corp. (REIT)		8,294		8,753,454
Daiwa Office Investment Corp. (REIT)		820		4,763,591
Hulic Reit, Inc. (REIT)		2,887		4,398,882
Japan Hotel REIT Investment Corp. (REIT)		13,023		9,286,545
Japan Retail Fund Investment Corp. (REIT)		5,875		11,420,913
Kenedix Office Investment Corp. (REIT)		1,396		8,514,419
Mitsubishi Estate Co., Ltd.		901,556		14,987,575
Mitsui Fudosan Co., Ltd.		1,884,174		45,442,058
Mori Hills REIT Investment Corp. (REIT)		4,847		6,137,064
Nippon Building Fund, Inc. (REIT)		140		777,697
Nippon Prologis REIT, Inc. (REIT)		9,235		20,046,525
Nomura Real Estate Holdings, Inc.		414,200		9,682,542
Orix JREIT, Inc. (REIT)		10,409		16,182,222
Tokyo Tatemono Co., Ltd.		569,000		8,594,244
				168,987,731
Singapore—2.2%
CapitaLand, Ltd.		2,743,900		7,509,210
City Developments, Ltd.		1,403,400		13,990,573
Singapore—(Continued)
Suntec Real Estate Investment Trust (REIT)		6,230,700		9,031,685
				30,531,468
Spain—1.0%
Hispania Activos Inmobiliarios SOCIMI S.A. (REIT)		242,134		5,151,430
Inmobiliaria Colonial Socimi S.A. (REIT)		749,916		8,677,558
				13,828,988
Sweden—1.0%
Castellum AB (a)		368,576		6,030,876
Fabege AB		170,580		3,697,074
Wihlborgs Fastigheter AB		213,527		4,949,906
				14,677,856
United Kingdom—6.1%
Derwent London plc (REIT)		296,279		12,902,803
Hammerson plc (REIT)		637,313		4,804,638
Land Securities Group plc (REIT)		1,979,755		26,065,749
Safestore Holdings plc (REIT)		614,265		4,236,243
Segro plc (REIT)		2,912,323		24,591,755
Shaftesbury plc (REIT)		447,359		6,170,506
UNITE Group plc (The) (REIT)		689,514		7,662,646
				86,434,340
United States—49.3%
Alexandria Real Estate Equities, Inc. (REIT)		301,225		37,619,990
AvalonBay Communities, Inc. (REIT)		156,480		25,734,701
Boston Properties, Inc. (REIT)		47,767		5,885,850
Brandywine Realty Trust (REIT) (a)		472,010		7,495,519
Brixmor Property Group, Inc. (REIT)		756,573		11,537,738
Columbia Property Trust, Inc. (REIT)		365,659		7,481,383
Crown Castle International Corp. (REIT)		99,439		10,899,509
CubeSmart (REIT) (a)		584,807		16,491,557
CyrusOne, Inc. (REIT) (a)		214,904		11,005,234
DCT Industrial Trust, Inc. (REIT) (a)		225,395		12,698,754
Equinix, Inc. (REIT)		55,422		23,174,155
Equity Residential (REIT) (a)		183,846		11,328,591
Essex Property Trust, Inc. (REIT)		97,037		23,354,865
Extra Space Storage, Inc. (REIT)		366,849		32,047,929
Forest City Realty Trust, Inc. (REIT) - Class A		736,858		14,928,743
Gaming and Leisure Properties, Inc. (REIT)		601,493		20,131,971
GGP, Inc. (REIT)		1,792,377		36,672,033
Healthcare Trust of America, Inc. (REIT) - Class A (a)		605,817		16,023,860
Hilton Worldwide Holdings, Inc.		137,501		10,829,579
Host Hotels & Resorts, Inc. (REIT)		770,422		14,360,666
Hudson Pacific Properties, Inc. (REIT) (a)		117,814		3,832,489
Invitation Homes, Inc. (REIT)		896,479		20,466,616
Iron Mountain, Inc. (REIT)		280,691		9,223,506
Kilroy Realty Corp. (REIT) (a)		185,238		13,144,488
Macerich Co. (The) (REIT) (a)		413,111		23,142,478
Marriott International, Inc. - Class A		93,456		12,708,147
MGM Growth Properties LLC (REIT) - Class A		260,700		6,918,978
Paramount Group, Inc. (REIT)		596,636		8,496,097
Park Hotels & Resorts, Inc. (REIT)		293,548		7,931,667
Physicians Realty Trust (REIT) (a)		365,165		5,685,619

BHFTI-148

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
United States—(Continued)
ProLogis, Inc. (REIT)		809,614	$	50,997,586
Regency Centers Corp. (REIT)		446,410		26,329,262
Retail Opportunity Investments Corp. (REIT) (a)		319,223		5,640,670
Simon Property Group, Inc. (REIT)		380,137		58,674,146
SL Green Realty Corp. (REIT) (a)		219,856		21,288,656
STORE Capital Corp. (REIT) (a)		511,775		12,702,256
Sun Communities, Inc. (REIT)		127,128		11,615,685
Taubman Centers, Inc. (REIT) (a)		301,796		17,175,210
VICI Properties, Inc. (REIT)		796,306		14,588,326
Vornado Realty Trust (REIT)		218,215		14,685,870
				694,950,379
Total Common Stocks (Cost $1,374,716,909)				1,390,760,025
Short-Term Investment—0.9%
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $12,580,933; collateralized by a U.S. Treasury Note at 1.625%, maturing 08/31/22, with a market value of $12,834,564.		12,580,094		12,580,094
Total Short-Term Investments (Cost $12,580,094)				12,580,094
Securities Lending Reinvestments (b)—5.8%
Certificates of Deposit—2.3%
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (c)		1,000,000		999,564
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (c)		2,000,000		1,999,936
China Construction Bank 1.950%, 04/20/18		1,500,000		1,499,844
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (c)		1,000,000		999,825
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (c)		3,000,000		3,000,000
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (c)		2,500,000		2,499,720
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (c)		1,500,000		1,500,000
Mitsubishi UFJ Trust and Banking Corp. 1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		2,000,000		1,999,878
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (c)		2,500,000		2,500,055
Natixis New York 2.220%, 06/11/18		1,000,000		1,000,166
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (c)		2,000,000		1,998,788
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (c)		2,000,000		1,999,834
Certificates of Deposit—(Continued)
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (c)		1,000,000		999,904
2.250%, 08/21/18		1,000,000		999,580
Sumitomo Mitsui Banking Corp., London 2.071%, 1M LIBOR + 0.230%, 05/21/18 (c)		2,500,000		2,500,000
Sumitomo Mitsui Banking Corp., New York 2.010%, 1M LIBOR + 0.270%, 09/10/18 (c)		2,500,000		2,499,252
2.062%, 1M LIBOR + 0.190%, 04/26/18 (c)		1,000,000		999,992
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (c)		2,000,000		1,999,970
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (c)		1,000,000		999,911
				32,996,219
Commercial Paper—1.1%
Danske Corp. 2.080%, 06/04/18		2,983,360		2,988,651
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		1,495,182		1,498,386
LMA S.A. & LMA Americas 2.150%, 06/01/18		3,480,978		3,486,801
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (c)		3,000,000		2,999,568
Sheffield Receivables Co. 2.080%, 05/21/18		1,989,716		1,994,144
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (c)		500,000		499,985
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (c)		1,500,000		1,499,784
				14,967,319
Repurchase Agreements—2.4%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $100,019; collateralized by Foreign Obligations with rates ranging from 1.875%—2.500%, maturity dates ranging from 06/30/20—05/02/25, and an aggregate market value of $102,000.		100,000		100,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,000,194; collateralized by Foreign Obligations with rates ranging from 1.875%—2.500%, maturity dates ranging from 03/07/22—05/24/27, and an aggregate market value of $1,020,005.		1,000,000		1,000,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $100,020; collateralized by Foreign Obligations with rates ranging from 1.875%—2.125%, maturity dates ranging from 04/14/22—08/07/23, and an aggregate market value of $102,001.		100,000		100,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $8,008,280; collateralized by U.S. Treasury Obligations with rates ranging from 0.000%—5.500%, maturity dates ranging from 08/02/18—08/15/46, and various Common Stock with an aggregate market value of $8,885,696.		8,000,000		8,000,000

BHFTI-149

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (b)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $3,014,318; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,332,136.		3,000,000	$	3,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $5,598,928; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $6,108,916.		5,500,000		5,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,193,820; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,237,276.		2,193,403		2,193,403
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $1,660,557; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $1,731,173.		1,600,000		1,600,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $2,314,538; collateralized by various Common Stock with an aggregate market value of $2,558,198.		2,300,000		2,300,000
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,500,910; collateralized by various Common Stock with an aggregate market value of $1,667,586.		1,500,000		1,500,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $7,008,847; collateralized by various Common Stock with an aggregate market value of $7,782,067.		7,000,000		7,000,000
				33,293,403
Total Securities Lending Reinvestments (Cost $81,262,809)				81,256,941
Total Investments—105.4% (Cost $1,468,559,812)				1,484,597,060
Other assets and liabilities (net)—(5.4)%				(75,761,702	)
Net Assets—100.0%			$	1,408,835,358

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $78,825,909 and the collateral received consisted of cash in the amount of $81,242,639. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Retail REIT’s		24.6
Office REIT’s		12.9
Diversified REIT’s		10.6
Specialized REIT’s		10.1
Diversified Real Estate Activities		8.9
Industrial REIT’s		8.0
Residential REIT’s		7.1
Real Estate Operating Companies		5.9
Real Estate Development		4.2
Hotel & Resort REITs		2.7

Glossary of Abbreviations

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Other Abbreviations

(REIT)— Real Estate Investment Trust

BHFTI-150

Brighthouse Funds Trust I

Clarion Global Real Estate Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	71,978,985		$	—	$	71,978,985
Canada		28,782,519		—			—		28,782,519
France		34,681,670		48,551,151			—		83,232,821
Germany		—		62,305,785			—		62,305,785
Hong Kong		—		135,049,153			—		135,049,153
Japan		—		168,987,731			—		168,987,731
Singapore		—		30,531,468			—		30,531,468
Spain		—		13,828,988			—		13,828,988
Sweden		—		14,677,856			—		14,677,856
United Kingdom		—		86,434,340			—		86,434,340
United States		694,950,379		—			—		694,950,379
Total Common Stocks		758,414,568		632,345,457			—		1,390,760,025
Total Short-Term Investment*		—		12,580,094			—		12,580,094
Total Securities Lending Reinvestments*		—		81,256,941			—		81,256,941
Total Investments	$	758,414,568	$	726,182,492		$	—	$	1,484,597,060
Collateral for Securities Loaned (Liability)	$	—	$	(81,242,639	)	$	—	$	(81,242,639	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 2 to Level 1 in the amount of $12,658,804 were due to the discontinuation of a systematic fair valuation model factor.

BHFTI-151

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—99.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.9%
Engility Holdings, Inc. (a)		57,266	$	1,397,290
L3 Technologies, Inc.		582,900		121,243,200
				122,640,490
Auto Components—0.3%
Adient plc (b)		140,683		8,407,216
Biotechnology—19.2%
Aduro Biotech, Inc. (a)		31,570		293,601
Agios Pharmaceuticals, Inc. (a) (b)		170,800		13,968,024
Amgen, Inc.		1,060,100		180,725,848
Biogen, Inc. (a)		867,860		237,637,425
ImmunoGen, Inc. (a)		499,700		5,256,844
Ionis Pharmaceuticals, Inc. (a) (b)		498,335		21,966,607
ProQR Therapeutics NV (a)		88,300		271,522
Spark Therapeutics, Inc. (a) (b)		53,520		3,563,897
Ultragenyx Pharmaceutical, Inc. (a) (b)		96,700		4,930,733
Vertex Pharmaceuticals, Inc. (a)		784,672		127,885,843
				596,500,344
Building Products—1.6%
Johnson Controls International plc		1,406,834		49,576,830
Communications Equipment—0.1%
ARRIS International plc (a)		122,915		3,265,852
Construction & Engineering—0.9%
Fluor Corp. (b)		519,410		29,720,640
Diversified Telecommunication Services—0.2%
AT&T, Inc.		157,745		5,623,609
Electronic Equipment, Instruments & Components—4.7%
Dolby Laboratories, Inc. - Class A		295,300		18,769,268
Fitbit, Inc. - Class A (a) (b)		54,350		277,185
TE Connectivity, Ltd.		1,269,625		126,835,537
				145,881,990
Energy Equipment & Services—3.9%
Core Laboratories NV (b)		514,070		55,632,656
Frank’s International NV		30,500		165,615
National Oilwell Varco, Inc. (b)		916,878		33,750,279
Weatherford International plc (a) (b)		14,614,500		33,467,205
				123,015,755
Health Care Equipment & Supplies—2.3%
Medtronic plc		861,379		69,099,824
Wright Medical Group NV (a)		58,679		1,164,191
				70,264,015
Health Care Providers & Services—8.4%
UnitedHealth Group, Inc.		1,219,050		260,876,700
Internet & Direct Marketing Retail—1.8%
Liberty Expedia Holdings, Inc. - Class A (a)		167,951		6,597,115
Liberty Interactive Corp. - Class A (a)		1,867,200		46,997,424
Liberty TripAdvisor Holdings, Inc. - Class A (a)		154,420		1,660,015
				55,254,554
Internet Software & Services—1.9%
Facebook, Inc. - Class A (a)		100,500		16,058,895
LogMeIn, Inc. (b)		85,873		9,922,625
Twitter, Inc. (a) (b)		1,100,000		31,911,000
				57,892,520
Machinery—0.7%
Pentair plc (b)		339,804		23,150,847
Media—17.5%
AMC Networks, Inc. - Class A (a) (b)		825,825		42,695,152
CBS Corp. - Class B		323,200		16,609,248
Comcast Corp. - Class A		6,889,200		235,403,964
GCI Liberty, Inc. - Class A (a)		251,927		13,316,861
Liberty Braves Group - Class A (a) (b)		47,058		1,069,628
Liberty Braves Group - Class C (a) (b)		94,117		2,147,750
Liberty Broadband Corp. - Class A (a) (b)		117,647		9,976,466
Liberty Broadband Corp. - Class C (a) (b)		305,883		26,211,114
Liberty Global plc - Class A (a)		299,400		9,374,214
Liberty Global plc - Class C (a)		299,400		9,110,742
Liberty Latin America, Ltd. - Class A (a) (b)		52,325		1,017,721
Liberty Latin America, Ltd. - Class C (a) (b)		52,325		998,884
Liberty Media Corp.-Liberty Formula One - Class A (a) (b)		117,647		3,445,881
Liberty Media Corp.-Liberty Formula One - Class C (a) (b)		235,294		7,258,820
Liberty SiriusXM Group - Class A (a)		470,588		19,341,167
Liberty SiriusXM Group - Class C (a)		941,176		38,447,040
Lions Gate Entertainment Corp. - Class B		348,621		8,394,794
Madison Square Garden Co. (The) - Class A (a)		286,049		70,310,844
MSG Networks, Inc. - Class A (a) (b)		858,150		19,394,190
Viacom, Inc. - Class B		344,700		10,706,382
				545,230,862
Metals & Mining—1.2%
Freeport-McMoRan, Inc. (a)		1,270,800		22,327,956
Nucor Corp.		274,700		16,781,423
				39,109,379
Oil, Gas & Consumable Fuels—7.5%
Anadarko Petroleum Corp. (b)		3,769,860		227,737,243
Newfield Exploration Co. (a) (b)		255,400		6,236,868
				233,974,111
Pharmaceuticals—4.6%
Allergan plc		786,777		132,406,701
Valeant Pharmaceuticals International, Inc. (a)		653,070		10,396,875
				142,803,576

BHFTI-152

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Semiconductors & Semiconductor Equipment—7.4%
Broadcom, Ltd.		536,161	$	126,346,339
Cree, Inc. (a) (b)		887,200		35,763,032
Intel Corp.		1,288,348		67,097,164
				229,206,535
Software—5.8%
Autodesk, Inc. (a)		944,300		118,585,194
Citrix Systems, Inc. (a) (b)		591,100		54,854,080
Nuance Communications, Inc. (a) (b)		400,000		6,300,000
				179,739,274
Technology Hardware, Storage & Peripherals—5.9%
Seagate Technology plc (b)		2,448,500		143,286,220
Western Digital Corp.		444,489		41,013,000
				184,299,220
Trading Companies & Distributors—0.1%
NOW, Inc. (a) (b)		229,219		2,342,618
Total Common Stocks (Cost $2,085,906,385)				3,108,776,937
Rights—0.0%
Health Care Equipment & Supplies—0.0%
Wright Medical Group NV, Expires 03/01/19 (a) (Cost $573,350)		229,340		305,022
Short-Term Investment—0.1%
Repurchase Agreement—0.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $2,621,859; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $2,676,781.		2,621,684		2,621,684
Total Short-Term Investments (Cost $2,621,684)				2,621,684
Securities Lending Reinvestments (c)—12.7%
Certificates of Deposit—7.5%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (d)		4,000,000		3,999,720
2.354%, 1M LIBOR + 0.500%, 09/21/18 (d)		5,000,000		4,999,675
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (d)		15,000,000		14,993,460
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (d)		10,500,000		10,499,223
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (d)		6,000,000		6,000,144
Certificates of Deposit—(Continued)
Chiba Bank, Ltd., New York 1.740%, 04/11/18		7,000,000		6,999,461
2.250%, 05/25/18		5,000,000		5,000,536
China Construction Bank 1.950%, 04/20/18		9,000,000		8,999,064
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (d)		11,000,000		10,998,075
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		7,500,000		7,500,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (d)		12,500,000		12,498,237
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		9,000,000		8,999,622
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		3,000,000		2,999,346
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		7,500,000		7,499,542
2.077%, 1M LIBOR + 0.200%, 05/30/18 (d)		2,000,000		1,999,668
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (d)		5,000,000		5,000,110
2.008%, 1M LIBOR + 0.200%, 04/18/18 (d)		5,000,000		4,999,930
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		1,000,000		999,916
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (d)		5,000,000		4,999,570
2.220%, 06/11/18		1,500,000		1,500,249
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (d)		4,000,000		3,997,576
2.061%, 1M LIBOR + 0.200%, 07/23/18 (d)		8,000,000		7,996,176
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		4,000,000		4,000,396
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		12,500,000		12,476,125
2.201%, 3M LIBOR + 0.130%, 06/12/18 (d)		5,000,000		4,998,315
2.222%, 1M LIBOR + 0.400%, 09/17/18 (d)		2,000,000		1,999,548
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		2,500,000		2,499,648
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		12,000,000		11,999,004
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (d)		3,000,000		2,999,712
2.250%, 08/21/18		5,000,000		4,997,900
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (d)		3,000,000		2,999,838
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (d)		1,500,000		1,498,875
Sumitomo Mitsui Banking Corp., New York 1.916%, 1M LIBOR + 0.230%, 09/05/18 (d)		3,000,000		2,998,785
1.920%, 1M LIBOR + 0.180%, 04/11/18 (d)		7,000,000		6,999,748
1.930%, 1M LIBOR + 0.190%, 04/12/18 (d)		4,000,000		3,999,828
2.000%, 05/21/18		1,500,000		1,500,008
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		5,000,000		4,999,960
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (d)		5,000,000		4,999,860
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (d)		2,500,000		2,499,962
1.893%, 3M LIBOR + 0.140%, 10/26/18 (d)		2,500,000		2,500,961

BHFTI-153

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		10,000,000	$	9,999,110
				234,446,883
Commercial Paper—2.3%
Alpine, Ltd. 2.240%, 06/07/18		4,972,000		4,979,350
Antalis S.A. 2.150%, 06/05/18		1,989,131		1,992,314
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		12,500,000		12,498,863
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		8,971,090		8,990,316
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (d)		8,000,000		7,997,152
Macquarie Bank, Ltd., London 2.020%, 05/16/18		7,960,049		7,979,752
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/08/18		9,945,056		9,959,580
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (d)		3,500,000		3,499,496
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		12,000,000		11,998,272
				69,895,095
Master Demand Notes—0.3%
Natixis Financial Products LLC 1.930%, OBFR + 0.250%, 04/02/18 (d)		9,000,000		9,000,000
Repurchase Agreements—2.6%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,300,260; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,326,009.		1,300,000		1,300,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,004,773; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $5,005,175; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $5,553,560.		5,000,000		5,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $2,544,967; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,776,780.		2,500,000		2,500,000
Repurchase Agreements—(Continued)
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $4,289,665; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $4,374,636.		4,288,850		4,288,850
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $3,840,038; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $4,003,338.		3,700,000		3,700,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $15,308,483; collateralized by various Common Stock with an aggregate market value of $16,500,002.		15,000,000		15,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $5,029,772; collateralized by various Common Stock with an aggregate market value of $5,501,774.		5,000,000		5,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,006,321; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $10,809,435; collateralized by various Common Stock with an aggregate market value of $12,012,407.		10,800,000		10,800,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $9,009,400; collateralized by various Common Stock with an aggregate market value of $10,010,339.		9,000,000		9,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $2,002,528; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $8,006,876; collateralized by various Common Stock with an aggregate market value of $8,893,791.		8,000,000		8,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $12,007,280; collateralized by various Common Stock with an aggregate market value of $13,340,687.		12,000,000		12,000,000
				80,588,850
Total Securities Lending Reinvestments (Cost $393,992,088)				393,930,828
Total Investments—112.7% (Cost $2,483,093,507)				3,505,634,471
Other assets and liabilities (net)—(12.7)%				(394,271,692	)
Net Assets—100.0%			$	3,111,362,779

BHFTI-154

Brighthouse Funds Trust I

ClearBridge Aggressive Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $391,183,536 and the collateral received consisted of cash in the amount of $393,926,175. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	3,108,776,937	$	—		$	—	$	3,108,776,937
Total Rights*		305,022		—			—		305,022
Total Short-Term Investment*		—		2,621,684			—		2,621,684
Total Securities Lending Reinvestments*		—		393,930,828			—		393,930,828
Total Investments	$	3,109,081,959	$	396,552,512		$	—	$	3,505,634,471
Collateral for Securities Loaned (Liability)	$	—	$	(393,926,175	)	$	—	$	(393,926,175	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-155

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—96.9% of Net Assets

Security Description	Shares		Value
Australia—2.8%
AMP, Ltd.		11,376,493	$	43,825,815
Orica, Ltd.		3,256,920		44,618,900
				88,444,715
Canada—0.2%
Cenovus Energy, Inc.		557,700		4,748,686
China—1.1%
Baidu, Inc. (ADR) (a)		151,575		33,830,024
France—13.5%
BNP Paribas S.A.		2,047,076		151,781,339
Bureau Veritas S.A.		1,355,000		35,236,917
Danone S.A.		436,913		35,387,545
Pernod-Ricard S.A.		128,850		21,464,401
Publicis Groupe S.A.		1,046,610		72,922,069
Safran S.A.		424,500		44,984,714
Sanofi		64,300		5,166,840
Valeo S.A.		991,800		65,587,102
				432,530,927
Germany—19.1%
Allianz SE		645,400		145,856,782
Bayer AG		688,400		77,839,513
Bayerische Motoren Werke AG		1,340,700		145,499,888
Continental AG		282,700		78,088,810
Daimler AG		1,962,500		166,763,833
				614,048,826
Indonesia—1.0%
Bank Mandiri Persero Tbk PT		56,725,100		31,727,090
Ireland—0.2%
Ryanair Holdings plc (ADR) (a)		49,100		6,031,935
Italy—3.8%
Intesa Sanpaolo S.p.A.		33,599,700		122,530,829
Japan—4.5%
Olympus Corp.		1,072,700		41,117,517
Toyota Motor Corp.		1,608,400		104,826,580
				145,944,097
Mexico—1.4%
Grupo Televisa S.A.B. (ADR)		2,878,508		45,940,988
Netherlands—4.2%
Akzo Nobel NV		123,461		11,671,654
ASML Holding NV		127,050		25,136,450
EXOR NV		1,109,805		79,291,973
Koninklijke Philips NV		516,272		19,840,345
				135,940,422
South Africa—0.9%
Naspers, Ltd. - N Shares		115,000		28,170,015
South Korea—0.1%
Samsung Electronics Co., Ltd.		1,375		3,204,241
Sweden—5.5%
Hennes & Mauritz AB - B Shares (b)		7,619,500		114,298,299
SKF AB - B Shares (b)		2,388,890		48,843,275
Volvo AB - B Shares		752,791		13,743,855
				176,885,429
Switzerland—14.1%
Cie Financiere Richemont S.A.		635,947		57,127,297
Credit Suisse Group AG (a)		7,253,554		121,710,630
Ferguson plc		127,500		9,590,476
Glencore plc (a)		22,383,220		111,374,512
Kuehne & Nagel International AG		173,355		27,296,533
LafargeHolcim, Ltd. (a)		1,606,805		88,005,191
Nestle S.A.		99,200		7,853,306
Swatch Group AG (The) - Bearer Shares		69,240		30,550,402
				453,508,347
Taiwan—0.2%
Taiwan Semiconductor Manufacturing Co., Ltd.		847,000		7,198,670
United Kingdom—22.4%
Ashtead Group plc		1,305,130		35,588,883
CNH Industrial NV		8,047,100		99,558,261
Diageo plc		1,212,500		41,018,984
Experian plc		1,983,600		42,849,648
G4S plc		7,859,600		27,401,792
Liberty Global plc - Class A (a)		808,500		25,314,135
Liberty Global plc - Class C (a)		1,866,200		56,788,466
Lloyds Banking Group plc		161,144,000		146,431,509
Meggitt plc		3,318,918		20,132,081
Royal Bank of Scotland Group plc (a)		18,857,901		68,627,411
Schroders plc		1,433,484		64,283,823
Schroders plc (non-voting shares)		10,427		334,114
Smiths Group plc		1,290,207		27,437,010
WPP plc		4,138,300		65,774,154
				721,540,271
United States—1.9%
Willis Towers Watson plc		404,874		61,617,774
Total Common Stocks (Cost $2,782,470,473)				3,113,843,286

BHFTI-156

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investment—2.9%

Security Description	Principal Amount*		Value
Repurchase Agreement—2.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $94,344,635; collateralized by U.S. Treasury Notes with rates ranging from 1.750% - 1.875%, maturity dates ranging from 03/31/22 - 05/31/22, and an aggregate market value of $96,229,417.		94,338,346	$	94,338,346
Total Short-Term Investments (Cost $94,338,346)				94,338,346
Securities Lending Reinvestments (c)—3.6%
Certificate of Deposit—0.1%
Royal Bank of Canada New York 1.836%, 04/05/18		4,004,765		3,999,932
Repurchase Agreements—2.7%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $7,401,439; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $7,548,040.		7,400,000		7,400,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $4,100,797; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $4,182,010.		4,100,000		4,100,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $4,000,800; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $4,080,027.		4,000,000		4,000,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $7,535,794; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $8,330,340.		7,500,000		7,500,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $2,002,070; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,221,424.		2,000,000		2,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,608,321; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,659,987.		2,607,825		2,607,825
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $18,113,775; collateralized by various Common Stock with an aggregate market value of $20,020,679.		18,000,000		18,000,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $5,004,368; collateralized by various Common Stock with an aggregate market value of $5,561,300.		5,000,000		5,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $10,001,978; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $10,200,000.		10,000,000		10,000,000
Societe Generale Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $15,003,792; collateralized by various Common Stock with an aggregate market value of $16,675,859.		15,000,000		15,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $5,003,033; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $3,003,792; collateralized by various Common Stock with an aggregate market value of $3,335,172.		3,000,000		3,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $2,001,719; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
				85,607,825
Time Deposits—0.8%
ABN AMRO Bank NV 1.680%, 04/02/18		4,000,000		4,000,000
Australia New Zealand Bank 1.670%, 04/02/18		2,000,000		2,000,000
DNB Bank ASA 1.640%, 04/02/18		5,000,000		5,000,000
DZ Bank AG 1.670%, 04/02/18		5,000,000		5,000,000
Nordea Bank New York 1.640%, 04/02/18		5,000,000		5,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		5,000,000		5,000,000
				26,000,000
Total Securities Lending Reinvestments (Cost $115,607,852)				115,607,757
Total Investments—103.4% (Cost $2,992,416,671)				3,323,789,389
Other assets and liabilities (net)—(3.4)%				(109,072,860	)
Net Assets—100.0%			$	3,214,716,529

BHFTI-157

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $111,419,245 and the collateral received consisted of cash in the amount of $115,612,590. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Banks		16.2
Automobiles		13.0
Media		9.2
Insurance		6.4
Capital Markets		5.8
Machinery		5.0
Auto Components		4.5
Diversified Financial Services		3.8
Specialty Retail		3.6
Metals & Mining		3.5

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation
CHF	64,314,000	SSBT		09/19/18		USD	68,465,399	$	189,395

Glossary of Abbreviations

Counterparties

(SSBT)— State Street Bank and Trust

Currencies

(CHF)—	Swiss Franc
(USD)—	United States Dollar

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-158

Brighthouse Funds Trust I

Harris Oakmark International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	88,444,715		$	—	$	88,444,715
Canada		4,748,686		—			—		4,748,686
China		33,830,024		—			—		33,830,024
France		—		432,530,927			—		432,530,927
Germany		—		614,048,826			—		614,048,826
Indonesia		—		31,727,090			—		31,727,090
Ireland		6,031,935		—			—		6,031,935
Italy		—		122,530,829			—		122,530,829
Japan		—		145,944,097			—		145,944,097
Mexico		45,940,988		—			—		45,940,988
Netherlands		—		135,940,422			—		135,940,422
South Africa		—		28,170,015			—		28,170,015
South Korea		—		3,204,241			—		3,204,241
Sweden		—		176,885,429			—		176,885,429
Switzerland		—		453,508,347			—		453,508,347
Taiwan		—		7,198,670			—		7,198,670
United Kingdom		82,102,601		639,437,670			—		721,540,271
United States		61,617,774		—			—		61,617,774
Total Common Stocks		234,272,008		2,879,571,278			—		3,113,843,286
Total Short-Term Investment*		—		94,338,346			—		94,338,346
Total Securities Lending Reinvestments*		—		115,607,757			—		115,607,757
Total Investments	$	234,272,008	$	3,089,517,381		$	—	$	3,323,789,389
Collateral for Securities Loaned (Liability)	$	—	$	(115,612,590	)	$	—	$	(115,612,590	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	189,395		$	—	$	189,395

* See Schedule of Investments for additional detailed categorizations.

BHFTI-159

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—4.3% of Net Assets

Security Description	Principal Amount*		Value
U.S. Treasury—4.3%
U.S. Treasury Floating Rate Notes 1.768%, 3M USTBMM + 0.190%, 01/31/20 (a)		11,050,000	$	11,037,077
1.942%, 3M USTBMM + 0.174%, 07/31/18 (a)		28,160,000		28,178,462
1.958%, 3M USTBMM + 0.190%, 04/30/18 (a)		29,992,000		29,997,978
Total U.S. Treasury & Government Agencies (Cost $69,216,461)				69,213,517
Commodity-Linked Securities—2.2%
Canadian Imperial Bank of Commerce Commodity Linked EMTN, U.S. Federal Funds (Effective) Rate minus 0.020% (linked to Canadian Imperial Bank of Commerce Custom 5 Agriculture Commodity Index, multiplied by 2), 03/29/19 (a)		8,400,000		8,362,581
Cargill, Inc. Commodity Linked Note, one month LIBOR Rate minus 0.010% (linked to Monthly Rebalance Commodity Excess Return Index, multiplied by 2), 02/25/19 (a)		16,030,000		15,982,955
Royal Bank of Canada Commodity Linked Note, U.S. Federal Funds (Effective) Rate minus 0.040% (linked to Royal Bank of Canada Enhanced Agriculture Basket 04 Excess Return Index, multiplied by 2), 03/29/19 (144A) (a)		11,150,000		11,052,172
Total Commodity-Linked Securities (Cost $35,580,000)				35,397,708
Municipals—1.1%
New York State Housing Finance Agency, Revenue Bond 2.050%, 11/01/49 (a) (Cost $18,000,000)		18,000,000		18,000,000
Short-Term Investments—89.6%
Certificate of Deposit—4.5%
Bank of Montreal 2.000%, 04/20/18		35,000,000		34,999,998
Mizuho Bank, Ltd. 1.820%, 04/03/18		17,000,000		17,000,204
Wells Fargo Bank N.A. 1.926%, 1M LIBOR + 0.240%, 12/05/18 (a)		20,000,000		19,978,380
				71,978,582
Commercial Paper—58.5%
ABN AMRO Funding USA LLC 1.643%, 04/10/18 (144A) (b)		20,000,000		19,987,900
Albion Capital Corp. 1.909%, 04/20/18 (b)		3,000,000		2,996,588
1.988%, 04/25/18 (b)		30,000,000		29,957,160
American Honda Finance Corp. 1.586%, 04/11/18 (b)		40,000,000		39,974,289
Apple, Inc 1.845%, 05/23/18 (b)		25,000,000		24,927,736
BMW U.S. Capital LLC 1.750%, 04/16/18 (144A) (b)		20,000,000		19,981,480
Caisse des Depots et Consignations 1.874%, 04/16/18 (b)		20,000,000		19,982,360
Commercial Paper—(Continued)
Cancara Asset Securitisation LLC 1.960%, 05/17/18 (b)		20,000,000		19,944,739
CDP Financial, Inc. 1.779%, 04/13/18 (b)		23,000,000		22,982,942
Chevron Corp. 1.796%, 04/26/18 (b)		40,000,000		39,943,751
Coca-Cola Co. (The) 1.864%, 05/21/18 (144A) (b)		25,000,000		24,928,671
Collateralized Commercial Paper Co. LLC 1.906%, 1M LIBOR + 0.220%, 04/03/18 (a)		30,000,000		30,000,810
Danske Corp. 1.665%, 04/16/18 (b)		33,000,000		32,969,376
DZ Bank AG 1.163%, 04/03/18 (144A) (b)		35,000,000		34,991,590
Exxon Mobil Corp. 0.831%, 04/02/18 (b)		25,000,000		24,995,411
1.496%, 04/06/18 (b)		20,000,000		19,992,431
HSBC Bank plc 2.335%, 1M LIBOR + 0.460%, 03/27/19 (144A) (a)		15,000,000		15,000,000
Intel Corp. 1.784%, 04/20/18 (b)		40,000,000		39,955,487
Kells Funding LLC 1.807%, 05/14/18 (144A) (b)		25,000,000		24,936,303
Kimberly-Clark Corp. 1.538%, 04/06/18 (144A) (b)		21,500,000		21,491,567
Liberty Funding LLC 1.687%, 04/20/18 (144A) (b)		40,000,000		39,954,265
L’Oreal U.S.A., Inc. 1.331%, 04/04/18 (144A) (b)		20,500,000		20,494,106
1.517%, 04/05/18 (144A) (b)		10,000,000		9,996,636
Matchpoint Finance plc 2.311%, 06/13/18 (144A) (b)		25,000,000		24,879,983
Nieuw Amsterdam Receivables Corp. 1.176%, 04/03/18 (144A) (b)		30,000,000		29,992,904
Novartis Finance Corp. 1.692%, 04/12/18 (b)		25,000,000		24,982,840
Old Line Funding LLC 1.787%, 05/14/18 (144A) (b)		40,000,000		39,898,084
Oversea-Chinese Banking Corp., Ltd. 1.916%, 05/01/18 (b)		40,000,000		39,929,417
PepsiCo, Inc. 1.820%, 05/02/18 (144A) (b)		40,000,000		39,927,958
Societe Generale S.A. 2.092%, 05/31/18 (b)		20,000,000		19,930,385
Toronto-Dominion Bank (The) 1.506%, 04/09/18 (144A) (b)		30,000,000		29,984,948
Toyota Motor Credit Corp. 1.988%, 1M LIBOR + 0.180%, 06/15/18 (a)		30,000,000		30,003,090
UBS AG 1.960%, 1M LIBOR + 0.220%, 06/12/18 (144A) (a)		20,000,000		20,000,000
Wal-Mart Stores, Inc. 1.705%, 04/17/18 (144A) (b)		32,000,000		31,968,536
Westpac Banking Corp. 1.960%, 1M LIBOR + 0.220%, 12/10/18 (144A) (a)		30,000,000		29,962,200
				941,845,943

BHFTI-160

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Mutual Funds—17.0%
STIC (Global Series) plc - U.S. Dollar Liquidity Portfolio, Institutional Class 1.720% (c) (d)		174,563,666	$	174,563,666
STIT-Government & Agency Portfolio, Institutional Class 1.550% (c)(d)		59,889,833		59,889,833
STIT-Treasury Portfolio Institutional Class 1.568% (c) (d)		39,926,556		39,926,556
				274,380,055
U.S. Treasury—9.6%
U.S. Treasury Bills 1.438%, 06/07/18 (b) (e)		77,390,000		77,154,226
1.567%, 07/05/18 (b)		38,950,000		38,776,053
1.573%, 07/12/18 (b)		38,000,000		37,814,422
				153,744,701
Total Short-Term Investments (Cost $1,442,205,207)				1,441,949,281
Total Investments—97.2% (Cost $1,565,001,668)				1,564,560,506
Other assets and liabilities (net)—2.8%				45,773,605
Net Assets—100.0%			$	1,610,334,111

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	The rate shown represents current yield to maturity.
(c)	The rate shown represents the annualized seven-day yield as of March 31, 2018.
(d)	Affiliated Issuer.
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $52,489,598.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $735,051,237, which is 45.6% of net assets.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		06/15/18		2,005		AUD	259,881,885	$	3,253,907
Brent Crude Oil Futures		08/31/18		501		USD	33,812,490		2,500,055
Canada Government Bond 10 Year Futures		06/20/18		2,503		CAD	333,574,810		4,374,041
Euro Stoxx 50 Index Futures		06/15/18		2,550		EUR	83,665,500		(1,589,198	)
Euro-Bund Futures		06/07/18		1,227		EUR	195,620,610		3,336,896
FTSE 100 Index Futures		06/15/18		1,115		GBP	77,977,525		(1,840,052	)
Gasoline RBOB Futures		04/30/18		598		USD	50,749,390		1,845,434
Hang Seng Index Futures		04/27/18		480		HKD	721,200,000		(1,061,049	)
New York Harbor ULSD Futures		05/31/18		229		USD	19,418,742		1,256,971
Russell 2000 Index Mini Futures		06/15/18		1,075		USD	82,302,000		(3,829,826	)
S&P 500 Index E-Mini Futures		06/15/18		585		USD	77,307,750		(2,494,750	)
Silver Futures		05/29/18		531		USD	43,191,540		(1,385,942	)
TOPIX Index Futures		06/07/18		783		JPY	13,440,195,000		362,702
U.S. Treasury Long Bond Futures		06/20/18		715		USD	104,836,875		3,495,735
United Kingdom Long Gilt Bond Futures		06/27/18		957		GBP	117,538,740		3,206,206
WTI Light Sweet Crude Oil Futures		08/20/18		340		USD	21,583,200		1,506,798
Net Unrealized Appreciation								$	12,937,928

BHFTI-161

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements

OTC Total Return Swaps

Fixed Rate	Payment Frequency	Maturity Date		Counterparty	Underlying Reference Instrument	Notional Amount			Market Value			Upfront Premium Paid/ (Received)		Unrealized Appreciation/ (Depreciation)(1)
0.330%	Monthly		10/23/18	BBP	Barclays Copper Excess Return Index		USD	31,365,076	$	(950,663	)	$	—	$	(950,663	)
0.450%	Monthly		02/07/19	BBP	Barclays Commodity Strategy 1727 Excess Return Index (a)		USD	37,337,505		(147,822	)		—		(147,822	)
0.470%	Monthly		02/15/19	CIBC	CIBC Custom 6 Agriculture Commodity Index (b)		USD	39,085,085		(98,909	)		—		(98,909	)
0.300%	Monthly		04/10/18	CIBC	CIBC Dynamic Roll LME Copper Excess Return Index 2		USD	32,317,937		(937,847	)		—		(937,847	)
0.470%	Monthly		02/14/19	CG	Cargill 11 Commodity Index 3 (c)		USD	41,199,657		—			—		—
0.120%	Monthly		01/14/19	CG	Cargill Gold Index 1		USD	22,492,319		—			—		—
0.400%	Monthly		02/12/19	GSI	Goldman Sachs Alpha Basket 1057 Excess Return Strategy (d)		USD	37,852,048		(380,140	)		—		(380,140	)
0.000%	Monthly		04/30/18	GSI	Hang Seng Index		HKD	66,810,589		(89,268	)		—		(89,268	)
0.250%	Monthly		04/25/18	JPMC	JPMorgan Contag Gas Oil Class A Excess Return Index		USD	20,307,472		285,070			—		285,070
0.140%	Monthly		06/27/18	MLI	Merrill Lynch Gold Excess Return Index		USD	28,636,088		58,243			—		58,243
0.280%	Monthly		09/05/18	MLI	MLCX Aluminum Excess Return Index		USD	5,677,865		—			—		—
0.250%	Monthly		11/13/18	MLI	MLCX Natural Gas Excess Return Index		USD	13,682,374		—			—		—
0.300%	Monthly		12/19/18	MBL	Macquarie Dynamic Aluminum Excess Return Index		USD	14,489,957		(319,230	)		—		(319,230	)
0.380%	Monthly		10/16/18	MSC	S&P GSCI Aluminum Dynamic Roll Index		USD	22,439,740		(748,860	)		—		(748,860	)
0.090%	Monthly		10/16/18	JPMC	S&P GSCI Gold Official Close Index		USD	23,183,150		(102,600	)		—		(102,600	)
Totals									$	(3,432,026	)	$	—	$	(3,432,026	)

(1) There is no upfront payment premium paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

(a) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Barclays Bank plc, as of March 31, 2018:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	7,691,526		20.6	%
Sugar No. 11		7,504,838		20.1	%
Soybean Meal		7,392,826		19.8	%
Soybean		7,243,476		19.4	%
Corn No. 2 Yellow		1,829,538		4.9	%
Coffee “C”		1,792,200		4.8	%
Wheat		1,754,863		4.7	%
Soybean Oil		1,717,525		4.6	%
Lean Hogs		186,688		0.5	%
Live Cattle		149,350		0.4	%
Cocoa		74,675		0.2	%
	$	37,337,505		100.0	%

(b) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Canadian Imperial Bank of Commerce, as of March 31, 2018:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	8,051,529		20.6	%
Sugar No. 11		7,856,102		20.1	%
Soybean Meal		7,738,847		19.8	%
Soybean		7,582,506		19.4	%
Corn No. 2 Yellow		1,915,169		4.9	%
Coffee “C”		1,876,084		4.8	%
Wheat		1,836,999		4.7	%
Soybean Oil		1,797,914		4.6	%
Lean Hogs		195,425		0.5	%
Live Cattle		156,340		0.4	%
Cocoa		78,170		0.2	%
	$	39,085,085		100.0	%

BHFTI-162

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

(c) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Cargill, Inc., as of March 31, 2018:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	8,487,130		20.6	%
Sugar No. 11		8,281,131		20.1	%
Soybean Meal		8,157,532		19.8	%
Soybean		7,992,733		19.4	%
Corn No. 2 Yellow		2,018,783		4.9	%
Coffee “C”		1,977,584		4.8	%
Wheat		1,936,384		4.7	%
Soybean Oil		1,895,184		4.6	%
Lean Hogs		205,998		0.5	%
Live Cattle		164,799		0.4	%
Cocoa		82,399		0.2	%
	$	41,199,657		100.0	%

(d) The following table represents the individual components and related notional value and weighting (as a percentage of the notional value of the swap) of the futures contracts underlying the total return swap with Goldman Sachs International, as of March 31, 2018:

Futures Contracts—Long	Notional Value		Component Weighting
Cotton No. 2	$	7,797,523		20.6	%
Sugar No. 11		7,608,262		20.1	%
Soybean Meal		7,494,706		19.8	%
Soybean		7,343,297		19.4	%
Corn No. 2 Yellow		1,854,750		4.9	%
Coffee “C”		1,816,898		4.8	%
Wheat		1,779,046		4.7	%
Soybean Oil		1,741,194		4.6	%
Lean Hogs		189,260		0.5	%
Live Cattle		151,408		0.4	%
Cocoa		75,704		0.2	%
	$	37,852,048		100.0	%

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(CG)—	Cargill, Inc.
(CIBC)—	Canadian Imperial Bank of Commerce
(GSI)—	Goldman Sachs Internatioanl
(JPMC)—	JPMorgan Chase Bank N.A.
(MBL)—	Macquarie Bank, Ltd.
(MLI)—	Merrill Lynch International
(MSC)—	Morgan Stanley Capital Services, LLC

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(JPY)—	Japanese Yen
(USD)—	United States Dollar

Index Abbreviations

(LIBOR)—	London InterBank Offered Rate
(USTBMM)—	U.S. Treasury Bill Money Market Yield

Other Abbreviations

(EMTN)— Euro Medium-Term Note

BHFTI-163

Brighthouse Funds Trust I

Invesco Balanced-Risk Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	69,213,517		$	—	$	69,213,517
Total Commodity-Linked Securities		—			35,397,708			—		35,397,708
Total Municipals		—			18,000,000			—		18,000,000
Short-Term Investments
Certificate of Deposit		—			146,943,872			—		146,943,872
Commercial Paper		—			866,880,653			—		866,880,653
Mutual Funds		274,380,055			—			—		274,380,055
U.S. Treasury		—			153,744,701			—		153,744,701
Total Short-Term Investments		274,380,055			1,167,569,226			—		1,441,949,281
Total Investments	$	274,380,055		$	1,290,180,451		$	—	$	1,564,560,506
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	25,138,745		$	—		$	—	$	25,138,745
Futures Contracts (Unrealized Depreciation)		(12,200,817	)		—			—		(12,200,817	)
Total Futures Contracts	$	12,937,928		$	—		$	—	$	12,937,928
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	343,313		$	—	$	343,313
OTC Swap Contracts at Value (Liabilities)		—			(3,775,339	)		—		(3,775,339	)
Total OTC Swap Contracts	$	—		$	(3,432,026	)	$	—	$	(3,432,026	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

BHFTI-164

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—94.4% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.6%
Arconic, Inc. (a)		537,194	$	12,376,950
Textron, Inc. (a)		563,108		33,206,478
				45,583,428
Automobiles—1.8%
General Motors Co.		1,381,090		50,188,811
Banks—20.8%
Bank of America Corp.		4,553,826		136,569,242
Citigroup, Inc.		2,189,907		147,818,722
Citizens Financial Group, Inc.		864,856		36,306,655
Fifth Third Bancorp (a)		1,580,349		50,176,081
JPMorgan Chase & Co.		955,445		105,070,287
KeyCorp		602,634		11,781,495
PNC Financial Services Group, Inc. (The)		311,343		47,087,515
Wells Fargo & Co.		820,386		42,996,430
				577,806,427
Biotechnology—3.0%
Biogen, Inc. (b)		88,767		24,306,180
Gilead Sciences, Inc.		277,702		20,935,954
Shire plc		748,041		37,289,268
				82,531,402
Building Products—1.5%
Johnson Controls International plc (a)		1,177,224		41,485,374
Capital Markets—6.1%
Bank of New York Mellon Corp. (The)		768,241		39,587,459
Goldman Sachs Group, Inc. (The)		128,245		32,299,786
Morgan Stanley (a)		1,100,470		59,381,361
State Street Corp.		368,873		36,787,704
				168,056,310
Chemicals—0.8%
CF Industries Holdings, Inc. (a)		606,805		22,894,753
Communications Equipment—3.1%
Cisco Systems, Inc. (a)		1,971,150		84,542,623
Consumer Finance—0.9%
Ally Financial, Inc. (a)		885,829		24,050,257
Containers & Packaging—0.9%
International Paper Co.		448,300		23,952,669
Electrical Equipment—2.2%
Eaton Corp. plc		572,157		45,721,066
Emerson Electric Co.		241,558		16,498,411
				62,219,477
Energy Equipment & Services—1.0%
Halliburton Co.		582,050		27,321,427
Food & Staples Retailing—1.5%
CVS Health Corp. (a)		296,177		18,425,171
Walmart, Inc. (a)		244,465		21,750,051
				40,175,222
Food Products—2.1%
Archer-Daniels-Midland Co.		501,805		21,763,283
Danone S.A.		437,672		35,449,019
				57,212,302
Health Care Equipment & Supplies—0.7%
Medtronic plc		252,970		20,293,253
Health Care Providers & Services—3.4%
Anthem, Inc. (a)		193,391		42,488,003
Cardinal Health, Inc. (a)		445,662		27,934,094
McKesson Corp.		169,943		23,939,870
				94,361,967
Hotels, Restaurants & Leisure—1.6%
Carnival Corp.		688,681		45,163,700
Household Products—0.8%
Reckitt Benckiser Group plc		261,628		22,170,076
Industrial Conglomerates—0.5%
General Electric Co.		1,043,732		14,069,507
Insurance—3.1%
Aflac, Inc.		363,732		15,916,912
Allstate Corp. (The)		302,123		28,641,261
American International Group, Inc.		758,464		41,275,611
				85,833,784
Internet Software & Services—1.1%
eBay, Inc. (b)		752,975		30,299,714
IT Services—1.3%
Cognizant Technology Solutions Corp. - Class A		264,995		21,332,097
PayPal Holdings, Inc. (b)		201,896		15,317,850
				36,649,947
Machinery—1.4%
Caterpillar, Inc.		149,123		21,977,748
Ingersoll-Rand plc		181,569		15,525,965
				37,503,713
Media—1.7%
CBS Corp. - Class B		248,719		12,781,669
Charter Communications, Inc. - Class A (b)		36,839		11,465,034
Comcast Corp. - Class A		457,965		15,648,664
Twenty-First Century Fox, Inc. - Class B		214,391		7,797,401
				47,692,768

BHFTI-165

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—0.2%
Alcoa Corp. (b)		141,242	$	6,350,240
Oil, Gas & Consumable Fuels—16.5%
Anadarko Petroleum Corp.		244,830		14,790,180
BP plc (ADR)		1,346,463		54,585,610
Canadian Natural Resources, Ltd.		919,993		28,920,493
Chevron Corp.		460,928		52,564,229
Devon Energy Corp. (a)		1,245,296		39,587,960
Hess Corp. (a)		699,610		35,414,258
Marathon Oil Corp.		2,969,715		47,901,503
Noble Energy, Inc. (a)		595,178		18,033,893
Occidental Petroleum Corp.		363,567		23,617,312
QEP Resources, Inc. (a) (b)		1,367,796		13,390,723
Royal Dutch Shell plc - Class A (ADR)		1,024,639		65,382,215
Suncor Energy, Inc.		1,814,007		62,655,802
				456,844,178
Pharmaceuticals—7.5%
Allergan plc (a)		199,013		33,491,898
Merck & Co., Inc.		503,657		27,434,197
Mylan NV (b)		808,096		33,269,312
Novartis AG		299,808		24,255,082
Pfizer, Inc.		1,515,123		53,771,715
Sanofi (ADR)		926,399		37,130,072
				209,352,276
Semiconductors & Semiconductor Equipment—3.2%
Intel Corp. (a)		1,011,510		52,679,441
QUALCOMM, Inc.		669,919		37,120,212
				89,799,653
Software—1.7%
Microsoft Corp.		506,865		46,261,569
Specialty Retail—0.9%
Advance Auto Parts, Inc. (a)		218,903		25,950,951
Technology Hardware, Storage & Peripherals—0.7%
NetApp, Inc. (a)		310,152		19,133,277
Wireless Telecommunication Services—0.8%
Vodafone Group plc		8,188,176		22,420,818
Total Common Stocks (Cost $2,081,265,509)				2,618,171,873
Mutual Fund—0.5%
Investment Company Security—0.5%
Altaba, Inc. (b) (Cost $6,233,313)		184,597		13,667,562
Short-Term Investment—5.1%
Security Description	Principal Amount*		Value
Repurchase Agreement—5.1%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $140,718,359; collateralized by U.S. Treasury Notes with rates ranging from 1.625% - 1.875%, maturity dates ranging from 07/31/22 - 08/31/22, and an aggregate market value of $143,527,226.		140,708,978	$	140,708,978
Total Short-Term Investments (Cost $140,708,978)				140,708,978
Securities Lending Reinvestments (c)—7.1%
Certificates of Deposit—2.2%
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (d)		2,000,000		2,000,048
China Construction Bank 1.950%, 04/20/18		4,500,000		4,499,532
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		2,000,000		2,000,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (d)		4,000,000		3,999,436
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		2,500,000		2,499,895
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (d)		3,500,000		3,500,000
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		1,000,000		999,782
2.077%, 1M LIBOR + 0.200%, 05/30/18 (d)		4,000,000		3,999,336
Mizuho Bank, Ltd., New York 1.891%, 1M LIBOR + 0.200%, 04/06/18 (d)		1,000,000		999,985
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		1,500,000		1,499,874
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (d)		2,000,000		1,999,828
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (d)		4,500,000		4,497,273
Royal Bank of Canada New York 2.222%, 1M LIBOR + 0.400%, 09/17/18 (d)		4,000,000		3,999,096
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		5,000,000		4,999,295
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (d)		2,500,000		2,499,760
2.250%, 08/21/18		2,500,000		2,498,950
Sumitomo Mitsui Banking Corp., London 2.071%, 1M LIBOR + 0.230%, 05/21/18 (d)		4,000,000		4,000,000
Sumitomo Mitsui Banking Corp., New York 2.010%, 1M LIBOR + 0.270%, 09/10/18 (d)		3,500,000		3,498,954
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		1,000,000		999,992
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (d)		4,250,000		4,249,936
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		3,000,000		2,999,733
				62,240,705
Commercial Paper—1.2%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		5,000,000		4,999,545

BHFTI-166

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Danske Corp. 2.080%, 06/04/18		5,469,493	$	5,479,193
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		4,485,545		4,495,158
Macquarie Bank, Ltd., London 2.020%, 05/16/18		2,985,018		2,992,407
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/08/18		4,972,528		4,979,790
Sheffield Receivables Co. 2.080%, 05/21/18		3,482,002		3,489,752
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (d)		4,000,000		3,999,876
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		3,000,000		2,999,568
				33,435,289
Repurchase Agreements—2.4%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $2,270,864; collateralized by various Common Stock with an aggregate market value of $2,420,000.		2,200,000		2,200,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $10,001,944; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $10,200,054.		10,000,000		10,000,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,800,350; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $1,836,004.		1,800,000		1,800,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,700,340; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,734,011.		1,700,000		1,700,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $703,341; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $777,498.		700,000		700,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $15,015,525; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $16,660,681.		15,000,000		15,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $508,993; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $555,356.		500,000		500,000
Repurchase Agreements—(Continued)
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $10,265,261; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $10,468,598.		10,263,311		10,263,311
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,594,620; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,704,958.		2,500,000		2,500,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $6,123,393; collateralized by various Common Stock with an aggregate market value of $6,600,001.		6,000,000		6,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,006,321; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $4,004,178; collateralized by various Common Stock with an aggregate market value of $4,449,040.		4,000,000		4,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $4,005,056; collateralized by various Common Stock with an aggregate market value of $4,446,896.		4,000,000		4,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $6,005,157; collateralized by various Common Stock with an aggregate market value of $6,670,344.		6,000,000		6,000,000
				65,663,311
Time Deposits—1.3%
ABN AMRO Bank NV 1.680%, 04/02/18		5,000,000		5,000,000
Australia New Zealand Bank 1.670%, 04/02/18		5,000,000		5,000,000
DNB Bank ASA 1.640%, 04/02/18		7,000,000		7,000,000
DZ Bank AG 1.670%, 04/02/18		5,000,000		5,000,000
Nordea Bank New York 1.640%, 04/02/18		8,000,000		8,000,000

BHFTI-167

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—(Continued)
Svenska Handelsbanken AB 1.640%, 04/02/18		7,000,000	$	7,000,000
				37,000,000
Total Securities Lending Reinvestments (Cost $198,351,558)				198,339,305
Total Investments—107.1% (Cost $2,426,559,358)				2,970,887,718
Other assets and liabilities (net)—(7.1)%				(197,061,528	)
Net Assets—100.0%			$	2,773,826,190

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $197,766,775 and the collateral received consisted of cash in the amount of $198,307,897. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	19,059,913	BBP		04/20/18		USD	14,577,636	$	(221,667	)
CAD	19,059,913	JPMC		04/20/18		USD	14,576,034		(223,269	)
CAD	19,059,913	RBC		04/20/18		USD	14,576,368		(222,935	)
CHF	3,897,504	BBP		04/20/18		USD	4,105,925		23,750
CHF	3,897,504	GSI		04/20/18		USD	4,105,704		23,530
CHF	3,897,504	JPMC		04/20/18		USD	4,106,180		24,006
EUR	14,037,757	CIBC		04/20/18		USD	17,309,608		17,291
EUR	14,037,757	GSI		04/20/18		USD	17,314,591		22,274
EUR	14,037,757	JPMC		04/20/18		USD	17,318,802		26,486
EUR	14,037,757	RBC		04/20/18		USD	17,316,697		24,380
GBP	15,583,069	BBP		04/20/18		USD	21,952,149		74,294
GBP	15,583,069	GSI		04/20/18		USD	21,944,155		66,299
GBP	15,583,069	RBC		04/20/18		USD	21,927,014		49,158
Net Unrealized Depreciation								$	(316,403	)

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(CIBC)—	Canadian Imperial Bank of Commerce
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(RBC)—	Royal Bank of Canada

Currencies

(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(EUR)—	Euro
(GBP)—	British Pound
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Other Abbreviations

(ADR)— American Depositary Receipt

BHFTI-168

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	45,583,428	$	—		$	—	$	45,583,428
Automobiles		50,188,811		—			—		50,188,811
Banks		577,806,427		—			—		577,806,427
Biotechnology		45,242,134		37,289,268			—		82,531,402
Building Products		41,485,374		—			—		41,485,374
Capital Markets		168,056,310		—			—		168,056,310
Chemicals		22,894,753		—			—		22,894,753
Communications Equipment		84,542,623		—			—		84,542,623
Consumer Finance		24,050,257		—			—		24,050,257
Containers & Packaging		23,952,669		—			—		23,952,669
Electrical Equipment		62,219,477		—			—		62,219,477
Energy Equipment & Services		27,321,427		—			—		27,321,427
Food & Staples Retailing		40,175,222		—			—		40,175,222
Food Products		21,763,283		35,449,019			—		57,212,302
Health Care Equipment & Supplies		20,293,253		—			—		20,293,253
Health Care Providers & Services		94,361,967		—			—		94,361,967
Hotels, Restaurants & Leisure		45,163,700		—			—		45,163,700
Household Products		—		22,170,076			—		22,170,076
Industrial Conglomerates		14,069,507		—			—		14,069,507
Insurance		85,833,784		—			—		85,833,784
Internet Software & Services		30,299,714		—			—		30,299,714
IT Services		36,649,947		—			—		36,649,947
Machinery		37,503,713		—			—		37,503,713
Media		47,692,768		—			—		47,692,768
Metals & Mining		6,350,240		—			—		6,350,240
Oil, Gas & Consumable Fuels		456,844,178		—			—		456,844,178
Pharmaceuticals		185,097,194		24,255,082			—		209,352,276
Semiconductors & Semiconductor Equipment		89,799,653		—			—		89,799,653
Software		46,261,569		—			—		46,261,569
Specialty Retail		25,950,951		—			—		25,950,951
Technology Hardware, Storage & Peripherals		19,133,277		—			—		19,133,277
Wireless Telecommunication Services		—		22,420,818			—		22,420,818
Total Common Stocks		2,476,587,610		141,584,263			—		2,618,171,873
Total Mutual Fund*		13,667,562		—			—		13,667,562
Total Short-Term Investment*		—		140,708,978			—		140,708,978
Total Securities Lending Reinvestments*		—		198,339,305			—		198,339,305
Total Investments	$	2,490,255,172	$	480,632,546		$	—	$	2,970,887,718
Collateral for Securities Loaned (Liability)	$	—	$	(198,307,897	)	$	—	$	(198,307,897	)

BHFTI-169

Brighthouse Funds Trust I

Invesco Comstock Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	351,468		$	—	$	351,468
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(667,871	)		—		(667,871	)
Total Forward Contracts	$	—	$	(316,403	)	$	—	$	(316,403	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-170

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.8%
BWX Technologies, Inc.		185,348	$	11,775,159
TransDigm Group, Inc. (a)		32,663		10,025,581
				21,800,740
Auto Components—1.4%
Cooper-Standard Holdings, Inc. (a) (b)		64,109		7,873,226
Visteon Corp. (b)		73,739		8,128,988
				16,002,214
Banks—3.8%
BankUnited, Inc.		195,823		7,829,003
Cathay General Bancorp (a)		251,316		10,047,614
Cullen/Frost Bankers, Inc.		104,265		11,059,389
MB Financial, Inc.		204,542		8,279,860
Sterling Bancorp (a)		336,269		7,582,866
				44,798,732
Beverages—0.5%
Boston Beer Co., Inc. (The) - Class A (a) (b)		32,397		6,124,653
Biotechnology—6.1%
Adamas Pharmaceuticals, Inc. (a) (b)		323,672		7,735,761
Agios Pharmaceuticals, Inc. (b)		154,067		12,599,599
Amicus Therapeutics, Inc. (b)		599,480		9,016,179
Exelixis, Inc. (b)		368,882		8,170,736
Halozyme Therapeutics, Inc. (b)		698,110		13,675,975
Neurocrine Biosciences, Inc. (a) (b)		169,528		14,058,957
Repligen Corp. (b)		194,838		7,049,239
				72,306,446
Building Products—1.6%
A.O. Smith Corp.		184,065		11,704,693
Masonite International Corp. (b)		121,967		7,482,676
				19,187,369
Capital Markets—2.2%
Evercore, Inc. - Class A (a)		132,834		11,583,125
MarketAxess Holdings, Inc. (a)		50,668		11,017,250
WisdomTree Investments, Inc. (a)		427,148		3,916,947
				26,517,322
Chemicals—1.7%
Ingevity Corp. (b)		139,975		10,314,758
PolyOne Corp.		229,859		9,773,604
				20,088,362
Commercial Services & Supplies—2.0%
Brink’s Co. (The)		153,022		10,918,120
Deluxe Corp.		128,640		9,520,646
MSA Safety, Inc.		27,947		2,326,308
Pitney Bowes, Inc. (a)		105,728		1,151,378
				23,916,452
Construction Materials—1.0%
Martin Marietta Materials, Inc.		55,987		11,606,105
Containers & Packaging—1.0%
Berry Global Group, Inc. (b)		208,558		11,431,064
Distributors—1.0%
Pool Corp.		83,519		12,212,148
Diversified Telecommunication Services—0.7%
Cogent Communications Holdings, Inc.		196,166		8,513,604
Electronic Equipment, Instruments & Components—5.3%
Cognex Corp. (a)		242,690		12,617,453
II-VI, Inc. (a) (b)		207,007		8,466,586
Littelfuse, Inc.		57,495		11,969,309
National Instruments Corp. (a)		204,925		10,363,057
Trimble, Inc. (b)		251,628		9,028,413
Zebra Technologies Corp. - Class A (b)		75,758		10,544,756
				62,989,574
Energy Equipment & Services—0.6%
Patterson-UTI Energy, Inc. (a)		371,191		6,499,554
Equity Real Estate Investment Trusts—1.0%
CubeSmart		236,988		6,683,061
Highwoods Properties, Inc.		124,563		5,458,351
				12,141,412
Food Products—0.6%
Lancaster Colony Corp.		60,628		7,465,732
Health Care Equipment & Supplies—6.3%
Align Technology, Inc. (b)		33,894		8,511,800
Cantel Medical Corp.		101,632		11,322,821
DexCom, Inc. (a) (b)		104,802		7,772,116
Halyard Health, Inc. (a) (b)		213,189		9,823,749
Hill-Rom Holdings, Inc.		109,062		9,488,394
ICU Medical, Inc. (b)		44,260		11,171,224
Integra LifeSciences Holdings Corp. (b)		171,858		9,510,622
Nevro Corp. (b)		87,811		7,610,580
				75,211,306
Health Care Providers & Services—3.7%
Chemed Corp.		41,516		11,328,056
Encompass Health Corp. (a)		174,322		9,965,988
HealthEquity, Inc. (a) (b)		242,085		14,655,826
Select Medical Holdings Corp. (b)		487,644		8,411,859
				44,361,729
Health Care Technology—0.6%
Medidata Solutions, Inc. (a) (b)		113,882		7,152,928
Hotels, Restaurants & Leisure—4.8%
Dunkin’ Brands Group, Inc. (a)		153,153		9,141,703
Jack in the Box, Inc. (a)		74,406		6,349,064

BHFTI-171

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Hotels, Restaurants & Leisure—(Continued)
Penn National Gaming, Inc. (b)		454,919	$	11,946,173
Six Flags Entertainment Corp. (a)		147,778		9,200,658
Texas Roadhouse, Inc. (a)		185,985		10,746,213
Wendy’s Co. (The)		553,212		9,708,871
				57,092,682
Household Durables—0.1%
Lennar Corp. - Class A		22,787		1,343,066
Insurance—3.0%
American Equity Investment Life Holding Co.		299,538		8,794,436
American Financial Group, Inc.		91,930		10,316,385
Hanover Insurance Group, Inc. (The)		90,150		10,627,783
RLI Corp. (a)		101,587		6,439,600
				36,178,204
Internet Software & Services—2.7%
2U, Inc. (a) (b)		140,705		11,823,441
LogMeIn, Inc. (a)		75,662		8,742,744
Q2 Holdings, Inc. (a) (b)		250,818		11,424,760
				31,990,945
IT Services—3.2%
Booz Allen Hamilton Holding Corp.		260,735		10,095,659
EPAM Systems, Inc. (b)		94,644		10,838,631
Euronet Worldwide, Inc. (a) (b)		121,329		9,575,285
ExlService Holdings, Inc. (b)		143,231		7,987,993
				38,497,568
Leisure Products—0.7%
Brunswick Corp.		146,766		8,716,433
Life Sciences Tools & Services—1.9%
Bio-Techne Corp.		77,274		11,671,465
PerkinElmer, Inc.		150,594		11,402,978
				23,074,443
Machinery—5.3%
ITT, Inc.		200,612		9,825,976
John Bean Technologies Corp. (a)		103,333		11,717,962
Kennametal, Inc. (a)		202,291		8,124,007
Lincoln Electric Holdings, Inc. (a)		93,190		8,382,440
Timken Co. (The)		177,075		8,074,620
WABCO Holdings, Inc. (b)		63,210		8,461,923
Wabtec Corp. (a)		101,480		8,260,472
				62,847,400
Media—0.3%
IMAX Corp. (b)		211,272		4,056,422
Oil, Gas & Consumable Fuels—2.8%
Centennial Resource Development, Inc. - Class A (b)		497,473		9,128,630
Energen Corp. (b)		169,713		10,668,159
Laredo Petroleum, Inc. (a) (b)		512,055		4,459,999
Oil, Gas & Consumable Fuels—(Continued)
Parsley Energy, Inc. - Class A (b)		302,324		8,764,373
				33,021,161
Pharmaceuticals—4.2%
Aerie Pharmaceuticals, Inc. (b)		155,101		8,414,229
Catalent, Inc. (a) (b)		212,672		8,732,312
GW Pharmaceuticals plc (ADR) (a) (b)		66,801		7,526,469
Intersect ENT, Inc. (b)		260,072		10,220,830
Nektar Therapeutics (b)		139,255		14,797,236
				49,691,076
Professional Services—1.4%
CoStar Group, Inc. (a) (b)		46,849		16,991,195
Road & Rail—3.4%
Knight-Swift Transportation Holdings, Inc. (a)		317,740		14,619,217
Landstar System, Inc. (a)		87,878		9,635,823
Old Dominion Freight Line, Inc.		111,349		16,364,963
				40,620,003
Semiconductors & Semiconductor Equipment—5.2%
Integrated Device Technology, Inc. (a) (b)		308,541		9,429,013
MKS Instruments, Inc.		112,702		13,033,986
Monolithic Power Systems, Inc.		80,058		9,268,315
Power Integrations, Inc.		104,930		7,171,966
Semtech Corp. (b)		246,520		9,626,606
Silicon Laboratories, Inc. (b)		143,318		12,884,288
				61,414,174
Software—11.5%
Aspen Technology, Inc. (a) (b)		195,160		15,396,173
Blackline, Inc. (b)		153,873		6,033,360
CommVault Systems, Inc. (b)		178,605		10,216,206
Fair Isaac Corp. (b)		90,701		15,362,028
Guidewire Software, Inc. (a) (b)		156,836		12,677,054
Pegasystems, Inc. (a)		186,111		11,287,632
Proofpoint, Inc. (b)		96,289		10,943,245
Qualys, Inc. (a) (b)		147,131		10,703,780
RealPage, Inc. (a) (b)		245,855		12,661,533
Take-Two Interactive Software, Inc. (b)		187,019		18,286,718
Ultimate Software Group, Inc. (The) (a) (b)		52,250		12,733,325
				136,301,054
Specialty Retail—1.6%
Five Below, Inc. (a) (b)		157,159		11,526,041
Urban Outfitters, Inc. (a) (b)		201,160		7,434,874
				18,960,915
Textiles, Apparel & Luxury Goods—2.1%
Carter’s, Inc. (a)		78,618		8,184,134
G-III Apparel Group, Ltd. (a) (b)		195,402		7,362,747
Steven Madden, Ltd. (a)		215,019		9,439,334
				24,986,215

BHFTI-172

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Trading Companies & Distributors—1.4%
Univar, Inc. (b)		291,845	$	8,098,699
Watsco, Inc.		49,051		8,876,759
				16,975,458
Total Common Stocks (Cost $772,051,899)				1,173,085,860
Short-Term Investment—1.7%
Repurchase Agreement—1.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $20,824,871; collateralized by a U.S. Treasury Note at 2.125%, maturing 03/31/24, with a market value of $21,244,708.		20,823,483		20,823,483
Total Short-Term Investments (Cost $20,823,483)				20,823,483
Securities Lending Reinvestments (c)—5.1%
Certificates of Deposit—2.9%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (d)		1,500,000		1,499,895
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (d)		1,500,000		1,499,346
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (d)		1,500,000		1,499,889
Chiba Bank, Ltd., New York 1.740%, 04/11/18		1,000,000		999,923
China Construction Bank 1.950%, 04/20/18		2,000,000		1,999,792
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (d)		1,500,000		1,499,738
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,500,000		1,500,000
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (d)		500,000		499,944
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		2,000,000		1,999,916
Mitsubishi UFJ Trust and Banking Corp. 1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		1,000,000		999,939
Mizuho Bank, Ltd., New York 2.008%, 1M LIBOR + 0.200%, 04/18/18 (d)		2,000,000		1,999,972
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		500,000		499,958
Natixis New York 2.220%, 06/11/18		500,000		500,083
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (d)		500,000		499,697
2.061%, 1M LIBOR + 0.200%, 07/23/18 (d)		1,500,000		1,499,283
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		1,500,000		1,500,148
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		1,000,000		998,090
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		1,000,000		999,859
Certificates of Deposit—(Continued)
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		1,500,000	$	1,499,875
Standard Chartered plc 2.250%, 08/21/18		1,500,000		1,499,370
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (d)		1,000,000		999,946
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (d)		500,000		499,625
Sumitomo Mitsui Banking Corp., New York 2.000%, 05/21/18		500,000		500,003
2.010%, 1M LIBOR + 0.270%, 09/10/18 (d)		2,500,000		2,499,252
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		1,500,000		1,499,988
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (d)		1,000,000		1,000,385
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,500,000		1,499,866
				33,993,782
Commercial Paper—1.0%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		500,000		499,954
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		1,993,576		1,997,848
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (d)		1,500,000		1,499,466
LMA S.A. & LMA Americas 2.150%, 06/04/18		2,485,965		2,490,100
Macquarie Bank, Ltd., London 2.020%, 05/16/18		995,006		997,469
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (d)		2,000,000		1,999,712
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (d)		2,000,000		1,999,938
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		1,000,000		999,856
				12,484,343
Repurchase Agreements—1.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $206,442; collateralized by various Common Stock with an aggregate market value of $220,000.		200,000		200,000
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $200,039; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $204,001.		200,000		200,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $100,019; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $102,000.		100,000		100,000

BHFTI-173

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $100,020; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $102,001.		100,000	$	100,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $200,955; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $222,142.		200,000		200,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,017,987; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,339,937; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,366,479.		1,339,683		1,339,683
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $4,462,747; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $4,652,528.		4,300,000		4,300,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $1,020,566; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				11,439,683
Time Deposits—0.2%
ABN AMRO Bank NV 1.680%, 04/02/18		1,000,000		1,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		1,000,000		1,000,000
				2,000,000
Total Securities Lending Reinvestments (Cost $59,925,848)				59,917,808
Total Investments—105.3% (Cost $852,801,230)				1,253,827,151
Other assets and liabilities (net)—(5.3)%				(62,738,733	)
Net Assets—100.0%			$	1,191,088,418

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $59,388,686 and the collateral received consisted of cash in the amount of $59,914,230. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-174

Brighthouse Funds Trust I

Invesco Small Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,173,085,860	$	—		$	—	$	1,173,085,860
Total Short-Term Investment*		—		20,823,483			—		20,823,483
Total Securities Lending Reinvestments*		—		59,917,808			—		59,917,808
Total Investments	$	1,173,085,860	$	80,741,291		$	—	$	1,253,827,151
Collateral for Securities Loaned (Liability)	$	—	$	(59,914,230	)	$	—	$	(59,914,230	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-175

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—56.6% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—29.3%
Fannie Mae 10 Yr. Pool
4.500%, 07/01/21		314,269	$	316,623
Fannie Mae 20 Yr. Pool
4.000%, 02/01/31		1,452,580		1,501,759
6.000%, 07/01/28		295,214		328,043
Fannie Mae 30 Yr. Pool
3.500%, 07/01/42		1,231,713		1,243,515
3.500%, 08/01/42		751,261		753,340
4.000%, 06/01/47		1,974,282		2,042,296
4.500%, 02/01/40		491,613		520,511
5.000%, 09/01/35		1,020,554		1,097,976
6.000%, 12/01/39		353,649		396,843
Fannie Mae ARM Pool
2.060%, 1M LIBOR + 0.480%, 09/01/24 (a)		3,724,083		3,718,177
Fannie Mae Benchmark REMIC (CMO)
5.500%, 06/25/37		1,001,848		1,090,879
Fannie Mae Grantor Trust
2.898%, 06/25/27		3,938,448		3,812,547
Fannie Mae Interest Strip (CMO)
4.500%, 11/25/20 (b)		99,574		2,730
Fannie Mae Pool
2.330%, 11/01/22		17,810,000		17,359,069
2.360%, 05/01/23		8,848,735		8,622,839
2.420%, 05/01/23		5,513,747		5,388,069
2.450%, 11/01/22		3,000,000		2,939,511
2.450%, 09/01/28		5,079,007		4,773,540
2.480%, 10/01/28		9,036,855		8,463,820
2.520%, 05/01/23		25,000,000		24,581,883
2.530%, 05/01/23		3,993,430		3,922,134
2.540%, 05/01/23		5,000,000		4,910,949
2.600%, 09/01/28		1,010,000		957,766
2.640%, 04/01/23		1,849,205		1,825,735
2.640%, 05/01/23		2,211,560		2,183,030
2.690%, 10/01/23		2,000,000		1,972,248
2.700%, 05/01/23		5,000,000		4,945,370
2.720%, 03/01/23		3,023,268		2,996,230
2.730%, 07/01/28		3,000,000		2,860,614
2.740%, 06/01/23		2,811,987		2,787,962
2.810%, 09/01/31		1,559,971		1,487,626
2.890%, 05/01/27		1,940,061		1,874,292
2.920%, 12/01/24		1,000,000		996,055
2.970%, 06/01/30		2,750,000		2,678,618
2.980%, 09/01/36		1,568,164		1,528,154
3.000%, 01/01/43		4,238,728		4,166,813
3.050%, 04/01/22		3,253,067		3,267,527
3.110%, 12/01/24		1,500,000		1,511,045
3.180%, 06/01/30		3,396,983		3,328,718
3.200%, 11/01/20		9,981,621		10,086,317
3.235%, 10/01/26		1,412,543		1,425,930
3.240%, 12/01/26		1,500,000		1,508,217
3.260%, 12/01/26		979,456		988,518
3.290%, 08/01/26		2,000,000		2,022,903
3.320%, 03/01/29		2,520,274		2,528,428
3.340%, 02/01/27		1,500,000		1,527,617
3.380%, 12/01/23		1,991,972		2,029,201
3.430%, 10/01/23		11,527,176		11,758,913
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Pool
3.440%, 11/01/21		3,806,518		3,878,866
3.450%, 01/01/24		982,465		1,004,041
3.490%, 09/01/23		3,856,288		3,940,665
3.500%, 08/01/26		320,136		322,668
3.500%, 02/01/33		4,628,950		4,666,804
3.500%, 05/01/33		4,663,032		4,700,956
3.500%, 12/01/42		5,493,969		5,535,404
3.500%, 03/01/43		6,743,603		6,794,542
3.500%, 05/01/43		22,176,381		22,343,728
3.500%, 06/01/43		5,454,956		5,496,143
3.500%, 07/01/43		3,222,003		3,246,330
3.500%, 08/01/43		7,379,383		7,435,032
3.550%, 02/01/30		1,500,000		1,534,094
3.560%, 03/01/24		7,076,138		7,274,295
3.563%, 01/01/21		9,929,489		10,139,412
3.630%, 10/01/29		1,428,848		1,470,983
3.670%, 07/01/23		2,500,000		2,586,279
3.730%, 07/01/22		5,588,404		5,737,628
3.760%, 10/01/23		1,429,674		1,480,104
3.760%, 11/01/23		1,094,827		1,134,260
3.770%, 12/01/20		2,197,416		2,252,487
3.817%, 05/01/22		7,685,459		7,897,070
3.843%, 06/01/18		310,071		309,621
3.970%, 07/01/21		4,527,892		4,671,922
4.000%, 10/01/32		1,559,102		1,615,840
4.000%, 12/01/40		408,687		422,506
4.000%, 07/01/42		2,646,239		2,732,873
4.260%, 12/01/19		2,611,579		2,676,456
4.330%, 04/01/20		3,672,605		3,783,760
Fannie Mae REMICS (CMO)
Zero Coupon, 09/25/43 (c)		1,984,390		1,553,083
Zero Coupon, 10/25/43 (c)		1,001,282		779,006
Zero Coupon, 12/25/43 (c)		2,199,532		1,745,551
1.661%, 03/25/27 (a)		253,606		253,443
2.372%, 1M LIBOR + 0.500%, 05/25/35 (a)		1,762,837		1,763,579
2.372%, 1M LIBOR + 0.500%, 10/25/42 (a)		965,197		974,635
2.472%, 1M LIBOR + 0.600%, 10/25/43 (a)		2,353,542		2,386,654
2.472%, 1M LIBOR + 0.600%, 12/25/43 (a)		2,623,462		2,647,243
2.772%, 1M LIBOR + 0.900%, 03/25/38 (a)		333,145		340,230
2.872%, 1M LIBOR + 1.000%, 08/25/32 (a)		774,702		798,083
3.500%, 02/25/43		5,809,329		5,840,537
4.659%, 1M LIBOR + 6.530%, 01/25/41 (a) (b)		4,762,009		782,521
5.000%, 03/25/40		6,550,213		6,965,308
5.500%, 12/25/35		1,222,060		1,340,478
6.000%, 01/25/36		1,024,810		989,123
6.500%, 07/18/28		169,432		185,623
Fannie Mae-ACES (CMO)
2.207%, 01/25/22		10,000,000		9,792,825
2.280%, 12/27/22		9,391,000		9,153,296
2.486%, 12/25/26 (a)		4,800,000		4,553,547
2.488%, 05/25/26		1,600,000		1,516,258
2.614%, 10/25/21 (a)		1,851,316		1,841,852
2.723%, 10/25/24		2,000,000		1,962,376
3.061%, 05/25/27 (a)		3,090,000		3,042,129
3.079%, 06/25/27 (a)		3,216,000		3,178,894

BHFTI-176

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae-ACES (CMO)
3.103%, 07/25/24 (a)		1,394,000	$	1,398,926
3.194%, 02/25/30		1,504,000		1,470,177
3.303%, 04/25/29		2,736,000		2,707,040
3.346%, 03/25/24 (a)		2,500,000		2,547,811
3.466%, 01/25/24 (a)		2,500,000		2,560,638
Freddie Mac 20 Yr. Gold Pool
3.500%, 03/01/32		1,278,048		1,306,168
Freddie Mac 30 Yr. Gold Pool
4.000%, 08/01/42		4,020,639		4,159,088
4.000%, 05/01/43		832,052		862,491
4.000%, 06/01/43		572,208		591,384
4.000%, 08/01/43		6,070,195		6,294,041
5.000%, 08/01/39		942,537		1,020,782
Freddie Mac ARM Non-Gold Pool
3.604%, 12M LIBOR + 1.844%, 07/01/40 (a)		1,677,669		1,754,091
Freddie Mac Gold Pool
3.500%, 12/01/32		4,206,510		4,279,756
3.500%, 01/01/33		6,123,353		6,229,511
3.500%, 02/01/33		9,032,620		9,188,879
3.500%, 03/01/33		6,077,822		6,183,653
3.500%, 04/01/33		7,966,747		8,101,564
3.500%, 05/01/33		3,507,746		3,568,842
3.500%, 06/01/43		3,437,332		3,464,265
4.000%, 09/01/32		1,335,161		1,401,806
4.000%, 11/01/32		3,312,927		3,488,296
4.000%, 12/01/32		1,556,770		1,639,319
4.000%, 01/01/33		871,822		918,052
4.000%, 02/01/33		604,920		631,874
4.000%, 01/01/46		2,871,840		2,974,536
5.000%, 02/01/34		393,314		410,953
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO)
2.522%, 01/25/23		2,085,000		2,051,872
2.615%, 01/25/23		7,275,000		7,173,861
2.838%, 09/25/22		1,849,000		1,840,410
3.117%, 06/25/27		2,487,000		2,460,904
3.243%, 04/25/27		1,996,000		1,998,014
3.303%, 11/25/27 (a)		1,755,000		1,763,028
3.326%, 05/25/27		1,072,000		1,074,097
3.389%, 03/25/24		5,714,000		5,838,763
3.490%, 01/25/24		4,000,000		4,107,435
Freddie Mac REMICS (CMO)
2.227%, 1M LIBOR + 0.450%, 08/15/42 (a)		5,086,134		5,158,390
2.457%, 1M LIBOR + 0.680%, 11/15/37 (a)		883,969		895,945
2.477%, 1M LIBOR + 0.700%, 03/15/24 (a)		452,072		454,378
3.000%, 02/15/26		1,796,456		1,814,705
3.127%, 1M LIBOR + 1.350%, 03/15/38 (a)		600,000		641,788
3.500%, 08/15/39		2,600,835		2,650,267
3.500%, 06/15/48		5,603,660		5,685,062
4.593%, 1M LIBOR + 6.370%, 10/15/37 (a) (b)		4,043,796		545,260
4.623%, 1M LIBOR + 6.400%, 11/15/36 (a) (b)		2,334,706		183,694
5.000%, 08/15/35		1,650,000		1,776,962
5.750%, 06/15/35		6,292,776		6,938,665
6.000%, 07/15/35		4,821,197		5,168,470
6.000%, 03/15/36		3,076,126		3,481,818
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac REMICS (CMO)
6.500%, 05/15/28		379,384		413,756
6.500%, 03/15/37		787,722		869,236
Freddie Mac Strips (CMO)
Zero Coupon, 09/15/43 (c)		1,063,890		856,720
3.000%, 01/15/43		5,597,337		5,559,637
3.000%, 01/15/44		7,935,080		7,787,515
FREMF Mortgage Trust (CMO)
3.576%, 11/25/49 (144A) (a)		1,700,000		1,662,834
3.675%, 11/25/49 (144A) (a)		2,000,000		1,938,018
3.684%, 01/25/48 (144A) (a)		2,430,000		2,375,993
3.835%, 07/25/49 (144A) (a)		1,635,000		1,649,940
4.072%, 11/25/47 (144A) (a)		2,060,000		2,007,606
Ginnie Mae II ARM Pool
2.625%, 1Y CMT + 1.500%, 04/20/41 (a)		507,831		522,563
Ginnie Mae II Pool
4.360%, 06/20/63 (a)		8,252,306		8,487,768
4.446%, 05/20/63 (a)		12,495,376		12,850,855
4.463%, 05/20/63 (a)		9,128,669		9,369,116
4.475%, 04/20/63 (a)		4,087,653		4,211,725
Government National Mortgage Association (CMO)
1.650%, 02/20/63		13,052,999		12,849,333
1.650%, 04/20/63		7,663,208		7,493,769
1.875%, 1M LIBOR + 0.300%, 08/20/60 (a)		35,123		35,137
1.875%, 1M LIBOR + 0.300%, 11/20/62 (a)		109,652		109,708
1.915%, 1M LIBOR + 0.340%, 12/20/62 (a)		2,027,605		2,022,982
1.975%, 1M LIBOR + 0.400%, 02/20/62 (a)		2,405,427		2,406,692
1.985%, 1M LIBOR + 0.410%, 03/20/63 (a)		683,751		683,574
1.995%, 1M LIBOR + 0.420%, 02/20/63 (a)		1,526,113		1,526,642
2.025%, 1M LIBOR + 0.450%, 02/20/63 (a)		6,622,082		6,627,707
2.045%, 1M LIBOR + 0.470%, 03/20/63 (a)		3,318,442		3,323,027
2.045%, 1M LIBOR + 0.470%, 07/20/64 (a)		3,818,496		3,824,201
2.045%, 1M LIBOR + 0.470%, 09/20/64 (a)		1,599,720		1,603,416
2.055%, 1M LIBOR + 0.480%, 04/20/63 (a)		7,950,948		7,964,775
2.075%, 1M LIBOR + 0.500%, 01/20/63 (a)		1,352,486		1,354,230
2.075%, 1M LIBOR + 0.500%, 04/20/63 (a)		5,728,205		5,747,554
2.075%, 1M LIBOR + 0.500%, 06/20/64 (a)		4,909,514		4,928,751
2.075%, 1M LIBOR + 0.500%, 07/20/64 (a)		2,216,148		2,224,650
2.125%, 1M LIBOR + 0.550%, 04/20/62 (a)		464,380		465,308
2.175%, 1M LIBOR + 0.600%, 04/20/64 (a)		12,223,833		12,309,248
2.175%, 1M LIBOR + 0.600%, 05/20/64 (a)		8,620,636		8,689,987
2.225%, 1M LIBOR + 0.650%, 07/20/63 (a)		5,186,396		5,214,677
2.225%, 1M LIBOR + 0.650%, 01/20/64 (a)		1,315,385		1,324,574
2.225%, 1M LIBOR + 0.650%, 02/20/64 (a)		4,626,684		4,659,040
2.225%, 1M LIBOR + 0.650%, 03/20/64 (a)		1,558,446		1,568,245
2.265%, 1M LIBOR + 0.690%, 02/20/64 (a)		1,872,073		1,893,663
2.275%, 1M LIBOR + 0.700%, 09/20/63 (a)		3,910,973		3,941,088
2.322%, 1M LIBOR + 0.500%, 09/20/37 (a)		249,178		250,362
2.325%, 1M LIBOR + 0.750%, 09/20/63 (a)		3,853,811		3,889,588
2.575%, 1M LIBOR + 1.000%, 12/20/66 (a)		1,590,134		1,626,455
4.492%, 04/20/43 (a)		1,993,178		2,045,533
4.500%, 01/16/25		1,068,733		1,135,340
4.737%, 11/20/42 (a)		7,930,263		8,368,706
5.000%, 12/20/33		1,431,303		1,537,033
5.000%, 09/20/38		2,400,239		2,432,152
5.000%, 06/16/39		511,386		536,743

BHFTI-177

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association (CMO)
5.000%, 07/20/39		2,801,375	$	3,021,566
5.000%, 10/20/39		2,993,110		3,286,778
5.197%, 06/20/40 (a)		3,486,421		3,745,649
5.500%, 02/20/33		32,779		33,126
5.500%, 07/16/33 (b)		1,034,464		202,368
				704,826,333
Federal Agencies—2.1%
Residual Funding Corp. Principal Strip
Zero Coupon, 07/15/20		43,119,000		40,755,499
Tennessee Valley Authority
1.750%, 10/15/18		850,000		848,584
5.250%, 09/15/39 (d)		300,000		393,828
5.880%, 04/01/36		1,300,000		1,776,120
6.235%, 07/15/45		4,250,000		4,624,246
Tennessee Valley Authority Generic Strip
Zero Coupon, 03/15/32		1,000,000		619,971
Tennessee Valley Authority Principal Strip
Zero Coupon, 11/01/25		1,000,000		791,230
Zero Coupon, 06/15/35		750,000		416,167
				50,225,645
U.S. Treasury—25.2%
U.S. Treasury Bonds 2.500%, 02/15/45		7,850,000		7,167,725
2.750%, 08/15/42		3,300,000		3,188,367
2.750%, 11/15/42		1,250,000		1,206,543
2.875%, 05/15/43		25,065,000		24,706,649
3.125%, 11/15/41		3,480,000		3,595,275
3.125%, 02/15/43		7,700,000		7,937,316
3.500%, 02/15/39		1,450,000		1,593,131
3.625%, 08/15/43		6,400,000		7,164,750
3.750%, 11/15/43		22,100,000		25,243,207
3.875%, 08/15/40		4,230,000		4,899,860
4.250%, 05/15/39		200,000		243,367
4.250%, 11/15/40		2,000,000		2,441,719
4.375%, 02/15/38 (d)		18,100,000		22,270,777
4.375%, 11/15/39		25,650,000		31,760,912
4.375%, 05/15/40		4,200,000		5,206,523
4.375%, 05/15/41		1,200,000		1,493,484
4.500%, 05/15/38		1,000,000		1,251,523
4.500%, 08/15/39		6,000,000		7,546,406
5.250%, 02/15/29		3,500,000		4,314,707
5.500%, 08/15/28		15,000,000		18,709,570
6.000%, 02/15/26		12,525,000		15,456,144
6.125%, 08/15/29 (d)		5,000,000		6,635,352
U.S. Treasury Coupon Strips Zero Coupon, 02/15/21 (d)		12,050,000		11,255,835
Zero Coupon, 05/15/21		16,285,000		15,096,049
Zero Coupon, 08/15/21		3,095,000		2,850,098
Zero Coupon, 11/15/21 (d)		14,940,000		13,660,562
Zero Coupon, 02/15/22		3,975,000		3,605,995
Zero Coupon, 05/15/22 (d)		14,560,000		13,114,700
Zero Coupon, 08/15/22 (d)		6,000,000		5,366,889
U.S. Treasury—(Continued)
U.S. Treasury Coupon Strips Zero Coupon, 11/15/22		6,250,000		5,551,452
Zero Coupon, 02/15/23		18,035,000		15,881,643
Zero Coupon, 05/15/23 (d)		52,445,000		45,838,131
Zero Coupon, 08/15/23 (d)		7,720,000		6,696,992
Zero Coupon, 11/15/23 (d)		2,300,000		1,980,229
Zero Coupon, 02/15/24		4,900,000		4,190,736
Zero Coupon, 08/15/24		2,500,000		2,105,953
Zero Coupon, 11/15/24		1,500,000		1,254,494
Zero Coupon, 02/15/25		2,000,000		1,657,695
Zero Coupon, 05/15/25 (d)		5,500,000		4,526,692
Zero Coupon, 08/15/25		648,000		528,503
Zero Coupon, 11/15/26		366,129		287,700
Zero Coupon, 08/15/27 (d)		400,000		307,150
Zero Coupon, 11/15/27		570,000		434,263
Zero Coupon, 05/15/28		3,030,000		2,272,355
Zero Coupon, 08/15/28		1,750,000		1,302,214
Zero Coupon, 05/15/29 (d)		1,000,000		728,100
Zero Coupon, 08/15/29		800,000		578,139
Zero Coupon, 11/15/29		1,000,000		716,813
Zero Coupon, 02/15/30		8,300,000		5,905,109
Zero Coupon, 05/15/30		700,000		493,599
Zero Coupon, 08/15/30		3,925,000		2,748,927
Zero Coupon, 11/15/30		4,400,000		3,057,266
Zero Coupon, 02/15/31		2,800,000		1,931,544
Zero Coupon, 05/15/31		10,500,000		7,197,402
Zero Coupon, 08/15/31		7,800,000		5,302,076
Zero Coupon, 11/15/31		3,000,000		2,022,340
Zero Coupon, 02/15/32 (d)		12,900,000		8,623,294
Zero Coupon, 05/15/32		12,800,000		8,492,411
Zero Coupon, 08/15/32		6,900,000		4,538,531
Zero Coupon, 08/15/33		400,000		255,352
Zero Coupon, 11/15/33 (d)		13,000,000		8,238,377
Zero Coupon, 02/15/34		4,400,000		2,762,290
Zero Coupon, 05/15/34		19,000,000		11,846,848
Zero Coupon, 08/15/34		5,000,000		3,093,343
Zero Coupon, 05/15/35		4,000,000		2,420,224
U.S. Treasury Inflation Indexed Bonds 1.750%, 01/15/28 (e)		591,475		650,278
2.375%, 01/15/25 (e)		20		22
U.S. Treasury Inflation Indexed Notes 0.125%, 01/15/22 (e)		1,642,410		1,624,942
U.S. Treasury Notes 1.375%, 06/30/23		2,500,000		2,351,855
1.750%, 01/31/23		7,100,000		6,839,852
1.750%, 05/15/23		2,500,000		2,400,586
2.000%, 11/30/20		3,000,000		2,971,289
2.000%, 06/30/24		1,500,000		1,443,457
2.000%, 02/15/25		8,000,000		7,654,687
2.000%, 08/15/25		11,000,000		10,482,656
2.125%, 01/31/21		2,000,000		1,985,469
2.125%, 08/15/21		21,000,000		20,771,953
2.125%, 03/31/24		5,000,000		4,856,250
2.125%, 05/15/25		16,000,000		15,408,125
2.250%, 11/15/25		16,000,000		15,486,875
2.250%, 02/15/27		2,000,000		1,922,266

BHFTI-178

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Notes 2.500%, 08/15/23		2,300,000	$	2,289,219
2.625%, 11/15/20		6,500,000		6,540,625
2.750%, 02/15/24		2,300,000		2,314,734
3.125%, 05/15/21		27,000,000		27,561,094
3.625%, 02/15/21		25,000,000		25,855,469
				606,163,325
Total U.S. Treasury & Government Agencies (Cost $1,380,907,680)				1,361,215,303
Corporate Bonds & Notes—28.4%
Aerospace/Defense—0.3%
Airbus Finance B.V. 2.700%, 04/17/23 (144A)		249,000		243,476
Airbus SE 3.150%, 04/10/27 (144A)		409,000		399,137
3.950%, 04/10/47 (144A)		150,000		150,747
BAE Systems Holdings, Inc. 4.750%, 10/07/44 (144A)		338,000		363,497
BAE Systems plc 4.750%, 10/11/21 (144A)		1,000,000		1,048,279
Carlyle Global Market Strategies CLO, Ltd. 1.000%, 07/15/19 (f) (g)		133,626		132,624
Harris Corp. 3.832%, 04/27/25		600,000		603,523
4.854%, 04/27/35		500,000		533,704
Lockheed Martin Corp. 3.100%, 01/15/23		193,000		191,837
4.090%, 09/15/52		287,000		278,327
4.500%, 05/15/36		450,000		477,420
Northrop Grumman Corp. 1.750%, 06/01/18 (d)		418,000		417,592
3.200%, 02/01/27		179,000		172,160
3.850%, 04/15/45		182,000		169,888
Northrop Grumman Systems Corp. 7.750%, 02/15/31		350,000		476,134
Rockwell Collins, Inc.
3.200%, 03/15/24		251,000		243,970
4.350%, 04/15/47		133,000		131,089
United Technologies Corp.
7.500%, 09/15/29		1,568,000		2,047,220
				8,080,624
Agriculture—0.1%
BAT Capital Corp.
4.390%, 08/15/37 (144A)		68,000		67,565
Bunge, Ltd. Finance Corp.
3.750%, 09/25/27		706,000		682,309
Cargill, Inc.
3.250%, 03/01/23 (144A)		165,000		165,294
Reynolds American, Inc.
7.000%, 08/04/41		570,000		734,866
				1,650,034
Airlines—0.5%
Air Canada Pass-Through Trust
3.300%, 01/15/30 (144A)		512,000		497,583
3.550%, 01/15/30 (144A)		726,000		715,870
4.125%, 05/15/25 (144A)		961,357		969,624
American Airlines Pass-Through Trust
3.000%, 10/15/28		1,761,964		1,663,188
3.650%, 06/15/28		148,836		145,944
3.650%, 02/15/29		426,684		422,951
3.700%, 10/01/26		207,675		205,079
4.950%, 01/15/23		900,972		937,011
British Airways Pass-Through Trust
3.800%, 09/20/31 (144A)		661,000		667,504
4.125%, 09/20/31 (144A)		882,000		887,927
Spirit Airlines Pass-Through Trust
3.375%, 02/15/30		306,000		297,516
United Airlines Pass-Through Trust
3.450%, 07/07/28 (d)		451,759		441,332
3.500%, 03/01/30		1,298,000		1,282,018
3.650%, 01/07/26		246,000		240,982
3.700%, 03/01/30		665,000		658,783
4.300%, 08/15/25		690,056		711,165
				10,744,477
Auto Manufacturers—0.8%
American Honda Finance Corp.
2.300%, 09/09/26		236,000		217,826
2.900%, 02/16/24		450,000		440,486
BMW U.S. Capital LLC
2.250%, 09/15/23 (144A)		540,000		511,105
Daimler Finance North America LLC
2.000%, 08/03/18 (144A)		300,000		299,534
2.300%, 01/06/20 (144A)		1,600,000		1,580,283
2.375%, 08/01/18 (144A)		378,000		377,788
2.875%, 03/10/21 (144A)		500,000		494,855
Ford Motor Co.
7.450%, 07/16/31		1,800,000		2,180,900
Ford Motor Credit Co. LLC
2.021%, 05/03/19		678,000		670,755
3.336%, 03/18/21		950,000		944,370
3.339%, 03/28/22		1,753,000		1,724,872
3.810%, 01/09/24		655,000		642,162
3.815%, 11/02/27 (d)		500,000		470,439
4.134%, 08/04/25		200,000		196,776
General Motors Co.
5.150%, 04/01/38		400,000		398,716
6.600%, 04/01/36		1,104,000		1,265,250
General Motors Financial Co., Inc.
3.450%, 04/10/22		332,000		329,271
3.500%, 11/07/24		695,000		670,975
3.700%, 05/09/23		683,000		678,023
3.950%, 04/13/24		1,200,000		1,189,811
4.000%, 01/15/25		705,000		695,043
4.000%, 10/06/26		910,000		883,125
4.300%, 07/13/25		1,360,000		1,361,897
4.350%, 01/17/27		437,000		434,081

BHFTI-179

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
Hyundai Capital America
2.400%, 10/30/18 (144A)		239,000	$	238,311
Nissan Motor Acceptance Corp.
1.900%, 09/14/21 (144A)		98,000		93,648
2.650%, 09/26/18 (144A)		300,000		300,103
				19,290,405
Banks—7.0%
ABN AMRO Bank NV
2.500%, 10/30/18 (144A)		1,160,000		1,159,408
4.750%, 07/28/25 (144A)		500,000		512,195
ANZ New Zealand International, Ltd.
2.600%, 09/23/19 (144A)		1,800,000		1,790,840
2.850%, 08/06/20 (144A)		250,000		248,303
Australia & New Zealand Banking Group, Ltd.
4.400%, 05/19/26 (144A)		200,000		200,854
Bank of America Corp.
2.250%, 04/21/20		312,000		307,460
2.503%, 10/21/22		120,000		115,271
2.600%, 01/15/19		177,000		177,174
2.625%, 10/19/20		485,000		481,651
2.650%, 04/01/19		660,000		659,658
2.881%, 3M LIBOR + 1.021%, 04/24/23 (a)		210,000		205,628
3.004%, 3M LIBOR + 0.790%, 12/20/23 (144A) (a)		2,141,000		2,100,016
3.124%, 3M LIBOR + 1.160%, 01/20/23 (a)		2,043,000		2,022,565
3.300%, 01/11/23		3,075,000		3,066,013
3.366%, 3M LIBOR + 0.810%, 01/23/26 (a)		600,000		583,678
3.705%, 3M LIBOR + 1.512%, 04/24/28 (a)		2,500,000		2,458,275
3.970%, 03/05/29 (a)		1,400,000		1,403,620
4.000%, 01/22/25		1,071,000		1,068,893
4.125%, 01/22/24		1,780,000		1,832,200
4.250%, 10/22/26		520,000		523,644
6.500%, 07/15/18 (d)		997,000		1,008,153
Bank of Montreal
2.350%, 09/11/22		500,000		480,939
2.375%, 01/25/19		575,000		574,207
Bank of New York Mellon Corp. (The)
2.200%, 05/15/19		354,000		352,625
3.250%, 09/11/24		1,200,000		1,185,922
4.150%, 02/01/21		670,000		689,617
5.450%, 05/15/19		278,000		286,297
Bank of Nova Scotia (The)
1.450%, 04/25/18		300,000		299,813
1.850%, 04/14/20		700,000		687,305
1.875%, 09/20/21 (144A)		300,000		286,946
2.800%, 07/21/21		500,000		496,630
Bank of Tokyo-Mitsubishi UFJ, Ltd. (The)
2.700%, 09/09/18 (144A)		1,000,000		1,000,454
4.100%, 09/09/23 (144A)		1,114,000		1,149,111
Barclays plc
3.650%, 03/16/25		254,000		244,686
3.684%, 01/10/23		386,000		382,648
4.375%, 01/12/26		2,499,000		2,501,591
4.836%, 05/09/28		275,000		270,424
5.200%, 05/12/26		250,000		252,011
Banks—(Continued)
BB&T Corp.
2.450%, 01/15/20		833,000		826,068
6.850%, 04/30/19		525,000		547,206
BNP Paribas S.A.
3.500%, 03/01/23 (144A)		400,000		396,828
BNZ International Funding, Ltd.
2.650%, 11/03/22 (144A)		842,000		812,536
2.900%, 02/21/22 (144A)		300,000		295,349
BPCE S.A.
3.375%, 12/02/26		700,000		675,592
4.625%, 07/11/24 (144A)		400,000		405,775
Canadian Imperial Bank of Commerce
1.600%, 09/06/19		850,000		835,763
2.100%, 10/05/20		200,000		195,482
Capital One Financial Corp.
2.450%, 04/24/19		176,000		175,212
3.200%, 02/05/25 (d)		236,000		226,352
3.750%, 04/24/24		671,000		666,096
3.750%, 07/28/26		860,000		818,194
4.200%, 10/29/25 (d)		650,000		644,058
Capital One N.A.
2.400%, 09/05/19		300,000		297,201
Citigroup, Inc.
1.750%, 05/01/18		776,000		775,503
2.350%, 08/02/21		192,000		186,428
2.400%, 02/18/20		450,000		445,101
2.500%, 09/26/18		441,000		440,868
2.750%, 04/25/22		1,900,000		1,850,812
2.900%, 12/08/21		600,000		590,859
3.142%, 01/24/23 (a)		667,000		658,949
3.200%, 10/21/26		485,000		461,044
3.400%, 05/01/26		825,000		797,380
3.668%, 3M LIBOR + 1.390%, 07/24/28 (a)		700,000		682,445
3.700%, 01/12/26		250,000		246,878
3.875%, 03/26/25		1,300,000		1,286,433
3.878%, 01/24/39 (a)		150,000		144,499
4.125%, 07/25/28		117,000		115,623
4.300%, 11/20/26		1,500,000		1,500,819
4.400%, 06/10/25		566,000		576,124
4.750%, 05/18/46		800,000		812,915
5.500%, 09/13/25		692,000		749,234
Citizens Bank N.A.
3.700%, 03/29/23		785,000		788,183
Citizens Financial Group, Inc.
2.375%, 07/28/21		110,000		106,682
4.300%, 12/03/25		193,000		195,192
Comerica, Inc.
3.800%, 07/22/26		1,116,000		1,096,915
Commonwealth Bank of Australia
2.000%, 09/06/21 (144A)		500,000		480,835
3.450%, 03/16/23 (144A) (d)		720,000		720,271
3.900%, 03/16/28 (144A) (d)		720,000		725,608
4.500%, 12/09/25 (144A) (d)		352,000		355,837
Cooperatieve Rabobank UA
3.875%, 02/08/22		700,000		713,765
4.375%, 08/04/25		250,000		252,512

BHFTI-180

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Cooperative Rabobank UA
4.625%, 12/01/23		872,000	$	908,896
Credit Agricole S.A.
4.125%, 01/10/27 (144A)		677,000		675,433
4.375%, 03/17/25 (144A)		295,000		293,871
Credit Suisse AG
1.700%, 04/27/18		279,000		278,902
2.300%, 05/28/19 (d)		250,000		248,407
3.000%, 10/29/21 (d)		1,379,000		1,365,394
3.625%, 09/09/24		250,000		249,214
5.300%, 08/13/19		300,000		309,281
Credit Suisse Group AG
3.574%, 01/09/23 (144A)		250,000		248,520
4.282%, 01/09/28 (144A)		1,433,000		1,436,367
Credit Suisse Group Funding Guernsey, Ltd.
3.750%, 03/26/25		970,000		947,355
Danske Bank A/S
2.000%, 09/08/21 (144A)		366,000		350,569
2.700%, 03/02/22 (144A)		372,000		363,349
Deutsche Bank AG
3.125%, 01/13/21		77,000		75,758
3.700%, 05/30/24		667,000		643,849
4.250%, 10/14/21		900,000		914,131
4.296%, 5Y USD Swap + 2.248%, 05/24/28 (a)		400,000		384,632
Discover Bank
4.200%, 08/08/23		914,000		932,297
4.250%, 03/13/26		1,229,000		1,233,655
Fifth Third Bancorp
3.950%, 03/14/28		400,000		401,609
8.250%, 03/01/38		500,000		717,566
Fifth Third Bank
2.375%, 04/25/19		650,000		647,548
Goldman Sachs Group, Inc. (The)
2.350%, 11/15/21		473,000		456,084
2.600%, 04/23/20		242,000		239,750
2.876%, 10/31/22 (a)		2,050,000		2,006,810
3.000%, 04/26/22		1,000,000		981,926
3.272%, 3M LIBOR + 1.201%, 09/29/25 (a)		1,209,000		1,163,845
3.500%, 01/23/25		392,000		384,543
3.500%, 11/16/26 (d)		600,000		578,062
3.691%, 3M LIBOR + 1.510%, 06/05/28 (a) (d)		1,674,000		1,622,897
3.750%, 05/22/25		1,859,000		1,840,175
3.814%, 3M LIBOR + 1.158%, 04/23/29 (a)		700,000		686,192
3.850%, 01/26/27		2,090,000		2,063,698
5.375%, 03/15/20		3,126,000		3,259,480
7.500%, 02/15/19		3,000,000		3,120,702
HSBC Bank plc
1.500%, 05/15/18 (144A)		821,000		820,113
4.750%, 01/19/21 (144A)		1,600,000		1,661,830
HSBC Holdings plc
2.650%, 01/05/22		2,940,000		2,858,525
3.033%, 11/22/23 (a) (d)		473,000		461,746
3.600%, 05/25/23		550,000		549,685
3.900%, 05/25/26 (d)		200,000		199,591
4.041%, 3M LIBOR + 1.546%, 03/13/28 (a)		240,000		239,837
4.250%, 08/18/25		300,000		297,674
4.375%, 11/23/26		1,006,000		1,001,882
Banks—(Continued)
Huntington Bancshares, Inc.
2.300%, 01/14/22		813,000		778,831
Industrial & Commercial Bank of China, Ltd.
2.452%, 10/20/21		750,000		725,732
ING Bank NV
1.650%, 08/15/19 (144A)		300,000		295,299
2.000%, 11/26/18 (144A)		284,000		282,854
ING Groep NV
3.950%, 03/29/27		217,000		215,268
Intesa Sanpaolo S.p.A.
3.875%, 07/14/27 (144A)		562,000		530,975
KeyCorp
5.100%, 03/24/21		896,000		945,479
Lloyds Banking Group plc
2.907%, 3M LIBOR + 0.810%, 11/07/23 (a)		300,000		289,208
3.750%, 01/11/27		973,000		941,209
4.375%, 03/22/28		633,000		639,329
4.582%, 12/10/25		400,000		399,980
Macquarie Bank, Ltd.
2.600%, 06/24/19 (144A)		979,000		974,897
2.850%, 07/29/20 (144A) (d)		250,000		248,491
4.000%, 07/29/25 (144A)		250,000		252,678
Macquarie Group, Ltd.
3.763%, 11/28/28 (144A) (a)		500,000		471,908
4.654%, 03/27/29 (144A) (a)		685,000		691,102
6.000%, 01/14/20 (144A) (d)		2,072,000		2,169,047
Mitsubishi UFJ Financial Group, Inc.
2.527%, 09/13/23		250,000		238,533
Mitsubishi UFJ Trust & Banking Corp.
2.450%, 10/16/19 (144A)		800,000		793,052
Mizuho Bank, Ltd.
3.600%, 09/25/24 (144A)		950,000		953,907
Morgan Stanley
2.750%, 05/19/22		250,000		243,805
3.125%, 01/23/23		500,000		492,854
3.591%, 3M LIBOR + 1.340%, 07/22/28 (a)		1,067,000		1,032,067
3.625%, 01/20/27		700,000		685,169
3.700%, 10/23/24		500,000		497,559
3.772%, 01/24/29 (a)		735,000		723,624
3.875%, 04/29/24		700,000		706,094
5.000%, 11/24/25		1,269,000		1,327,008
5.500%, 01/26/20		1,430,000		1,492,484
5.500%, 07/28/21		807,000		861,922
5.625%, 09/23/19		3,030,000		3,145,299
5.750%, 01/25/21		2,500,000		2,664,308
6.625%, 04/01/18		1,757,000		1,757,000
MUFG Union Bank N.A.
2.250%, 05/06/19		400,000		397,138
National Australia Bank, Ltd.
2.400%, 12/09/19 (144A)		400,000		396,217
Nordea Bank AB
1.625%, 05/15/18 (144A) (d)		1,400,000		1,398,614
4.875%, 01/27/20 (144A)		900,000		929,805
Northern Trust Corp.
3.375%, 08/23/21		300,000		305,189
3.375%, 3M LIBOR + 1.131%, 05/08/32 (a)		251,000		241,100

BHFTI-181

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
PNC Financial Services Group, Inc. (The)
4.375%, 08/11/20		650,000	$	669,492
5.125%, 02/08/20		800,000		830,074
6.700%, 06/10/19		650,000		679,166
Regions Financial Corp.
3.200%, 02/08/21		268,000		267,508
Royal Bank of Canada
1.875%, 02/05/20		2,000,000		1,968,910
2.000%, 10/01/18		1,819,000		1,815,871
2.000%, 12/10/18		69,000		68,749
2.200%, 07/27/18		153,000		152,854
4.650%, 01/27/26		495,000		510,433
Santander UK Group Holdings plc
4.750%, 09/15/25 (144A) (d)		1,200,000		1,207,236
Societe Generale S.A.
4.250%, 04/14/25 (144A)		500,000		492,767
Stadshypotek AB
1.875%, 10/02/19 (144A)		1,500,000		1,483,477
Standard Chartered plc
4.866%, 03/15/33 (144A) (a)		300,000		301,450
5.200%, 01/26/24 (144A)		1,000,000		1,037,544
State Street Corp.
3.100%, 05/15/23		407,000		404,546
3.700%, 11/20/23		1,608,000		1,646,102
Sumitomo Mitsui Financial Group, Inc.
2.442%, 10/19/21		318,000		308,852
2.778%, 10/18/22		411,000		398,841
2.784%, 07/12/22 (d)		800,000		780,251
2.846%, 01/11/22 (d)		900,000		884,856
3.010%, 10/19/26 (d)		212,000		199,218
3.102%, 01/17/23		482,000		474,107
Sumitomo Mitsui Trust Bank, Ltd.
2.050%, 10/18/19 (144A) (d)		1,000,000		985,838
SunTrust Banks, Inc.
2.750%, 05/01/23		2,000,000		1,939,963
Toronto-Dominion Bank (The)
1.750%, 07/23/18		300,000		299,451
2.250%, 11/05/19		255,000		252,901
2.500%, 12/14/20		500,000		493,716
3.625%, 5Y USD Swap + 2.205%, 09/15/31 (a)		433,000		414,981
U.S. Bancorp
2.375%, 07/22/26		1,570,000		1,425,622
3.150%, 04/27/27		500,000		480,690
U.S. Bank N.A.
2.125%, 10/28/19		350,000		346,481
UBS AG
2.450%, 12/01/20 (144A)		200,000		196,370
UBS Group Funding Switzerland AG
2.859%, 08/15/23 (144A) (a)		276,000		266,792
3.491%, 05/23/23 (144A)		762,000		752,830
4.125%, 09/24/25 (144A)		300,000		301,666
Wells Fargo & Co.
2.500%, 03/04/21 (d)		179,000		175,748
3.069%, 01/24/23		3,470,000		3,412,315
3.300%, 09/09/24		770,000		751,291
3.500%, 03/08/22		1,900,000		1,905,079
Banks—(Continued)
Wells Fargo & Co.
4.100%, 06/03/26		1,291,000		1,283,034
4.650%, 11/04/44		595,000		600,145
4.750%, 12/07/46		383,000		392,468
5.375%, 11/02/43		1,005,000		1,109,616
Westpac Banking Corp.
1.375%, 05/30/18 (144A)		2,000,000		1,997,880
3.400%, 01/25/28 (d)		500,000		486,580
4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (a)		1,050,000		1,042,209
				168,794,806
Beverages—0.6%
Anheuser-Busch InBev Finance, Inc.
1.900%, 02/01/19		310,000		309,098
3.300%, 02/01/23 (d)		3,722,000		3,724,736
3.650%, 02/01/26		1,000,000		994,049
4.700%, 02/01/36		1,500,000		1,587,097
Anheuser-Busch InBev Worldwide, Inc.
4.000%, 04/13/28		720,000		728,789
4.375%, 04/15/38		1,300,000		1,326,348
4.600%, 04/15/48		340,000		351,702
4.750%, 04/15/58		775,000		792,694
Beam Suntory, Inc.
3.250%, 05/15/22		760,000		760,520
Coca-Cola Femsa S.A.B. de C.V.
3.875%, 11/26/23		350,000		357,838
Constellation Brands, Inc.
4.250%, 05/01/23		100,000		102,434
Dr Pepper Snapple Group, Inc.
3.430%, 06/15/27 (144A)		175,000		167,604
Heineken NV
3.400%, 04/01/22 (144A)		1,339,000		1,344,908
PepsiCo, Inc.
3.450%, 10/06/46		800,000		735,321
				13,283,138
Biotechnology—0.3%
Amgen, Inc.
3.625%, 05/15/22		100,000		101,173
3.625%, 05/22/24		873,000		878,891
4.563%, 06/15/48		2,696,000		2,745,395
5.700%, 02/01/19		100,000		102,424
Baxalta, Inc.
5.250%, 06/23/45		89,000		97,189
Biogen, Inc.
5.200%, 09/15/45		133,000		145,233
Celgene Corp.
3.250%, 08/15/22		490,000		482,642
3.625%, 05/15/24		591,000		583,509
3.950%, 10/15/20		500,000		509,109
4.350%, 11/15/47		278,000		264,634
5.700%, 10/15/40		165,000		188,665
Gilead Sciences, Inc.
2.500%, 09/01/23		79,000		76,144
3.250%, 09/01/22		630,000		630,597

BHFTI-182

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Biotechnology—(Continued)
Gilead Sciences, Inc.
3.500%, 02/01/25		115,000	$	114,692
3.650%, 03/01/26		115,000		115,410
3.700%, 04/01/24		704,000		707,142
4.000%, 09/01/36		201,000		200,143
				7,942,992
Building Materials—0.1%
CRH America Finance, Inc.
3.400%, 05/09/27 (144A)		214,000		204,999
Johnson Controls International plc
3.625%, 07/02/24		277,000		277,542
4.950%, 07/02/64		737,000		739,771
5.000%, 03/30/20		635,000		660,841
Martin Marietta Materials, Inc.
3.450%, 06/01/27		499,000		477,219
				2,360,372
Chemicals—0.4%
Agrium, Inc.
3.375%, 03/15/25		87,000		84,459
4.125%, 03/15/35		620,000		604,769
5.250%, 01/15/45		712,000		775,855
Air Liquide Finance S.A.
2.250%, 09/27/23 (144A)		350,000		331,424
Albemarle Corp.
5.450%, 12/01/44		350,000		382,313
Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. L.P.
3.400%, 12/01/26 (144A)		339,000		333,142
3.700%, 06/01/28 (144A)		450,000		451,009
Dow Chemical Co. (The)
3.000%, 11/15/22		106,000		104,078
4.125%, 11/15/21		106,000		109,020
4.250%, 10/01/34		1,000,000		1,004,598
8.850%, 09/15/21		640,000		746,072
E.I. du Pont de Nemours & Co.
4.150%, 02/15/43		107,000		103,579
Monsanto Co.
4.700%, 07/15/64		100,000		96,976
Mosaic Co. (The)
5.450%, 11/15/33 (d)		1,163,000		1,231,457
5.625%, 11/15/43		1,000,000		1,045,551
Potash Corp. of Saskatchewan, Inc.
3.000%, 04/01/25		440,000		417,869
Praxair, Inc.
1.250%, 11/07/18		900,000		893,345
2.650%, 02/05/25		261,000		251,821
Rohm & Haas Co.
7.850%, 07/15/29		418,000		562,057
Sherwin-Williams Co. (The)
3.125%, 06/01/24		247,000		238,817
Westlake Chemical Corp.
4.375%, 11/15/47		237,000		228,960
				9,997,171
Commercial Services—0.3%
Ecolab, Inc.
2.250%, 01/12/20		297,000		293,710
3.250%, 01/14/23		700,000		700,437
3.250%, 12/01/27 (144A)		215,000		207,297
ERAC USA Finance LLC
3.850%, 11/15/24 (144A) (d)		925,000		935,090
4.500%, 08/16/21 (144A)		1,740,000		1,803,760
7.000%, 10/15/37 (144A)		500,000		651,670
President & Fellows of Harvard College
3.300%, 07/15/56		714,000		662,316
Western Union Co. (The)
3.600%, 03/15/22 (d)		995,000		994,309
6.200%, 06/21/40		200,000		208,919
				6,457,508
Computers—0.6%
Apple, Inc.
2.150%, 02/09/22		540,000		525,493
2.450%, 08/04/26 (d)		519,000		481,114
2.750%, 01/13/25		600,000		577,471
2.850%, 05/11/24		1,123,000		1,094,687
2.900%, 09/12/27		836,000		795,783
3.000%, 02/09/24 (d)		2,312,000		2,285,918
3.000%, 06/20/27 (d)		675,000		650,704
3.200%, 05/11/27		514,000		502,243
3.350%, 02/09/27		1,207,000		1,192,409
3.450%, 02/09/45		625,000		576,738
3.750%, 09/12/47		1,200,000		1,159,770
3.850%, 08/04/46		362,000		354,214
Dell International LLC / EMC Corp.
6.020%, 06/15/26 (144A)		1,477,000		1,590,613
DXC Technology Co.
4.250%, 04/15/24		310,000		318,358
7.450%, 10/15/29		700,000		860,989
IBM Credit LLC
2.650%, 02/05/21 (d)		720,000		716,226
3.000%, 02/06/23		960,000		949,887
International Business Machines Corp.
6.500%, 01/15/28		300,000		368,850
				15,001,467
Cosmetics/Personal Care—0.0%
Procter & Gamble Co. (The)
2.850%, 08/11/27		750,000		719,509
Unilever Capital Corp.
3.375%, 03/22/25 (d)		310,000		309,680
				1,029,189
Distribution/Wholesale—0.0%
WW Grainger, Inc.
4.600%, 06/15/45		190,000		201,030
Diversified Financial Services—1.4%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300%, 01/23/23		468,000		455,121
3.500%, 01/15/25		600,000		578,510

BHFTI-183

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Diversified Financial Services—(Continued)
Air Lease Corp.
3.250%, 03/01/25		484,000	$	461,751
3.625%, 04/01/27		100,000		95,344
3.625%, 12/01/27		600,000		568,936
3.875%, 04/01/21		300,000		304,507
American Express Co.
3.000%, 10/30/24		700,000		672,110
3.400%, 02/27/23		600,000		597,976
American Express Credit Corp.
2.125%, 03/18/19		116,000		115,392
2.250%, 08/15/19		500,000		497,084
2.375%, 05/26/20		500,000		493,514
2.600%, 09/14/20		115,000		113,701
Ameriprise Financial, Inc.
2.875%, 09/15/26		635,000		600,386
BOC Aviation, Ltd.
2.750%, 09/18/22 (144A)		480,000		459,112
Brookfield Finance, Inc.
3.900%, 01/25/28		358,000		347,447
4.700%, 09/20/47		409,000		396,737
Capital One Bank USA N.A.
3.375%, 02/15/23		600,000		584,700
8.800%, 07/15/19		300,000		321,477
CDP Financial, Inc.
4.400%, 11/25/19 (144A)		600,000		616,682
CME Group, Inc.
3.000%, 03/15/25		440,000		428,169
Daiwa Securities Group, Inc.
3.129%, 04/19/22 (144A)		439,000		433,361
GE Capital International Funding Co.
2.342%, 11/15/20		6,696,000		6,548,413
4.418%, 11/15/35		3,526,000		3,446,844
International Lease Finance Corp.
5.875%, 08/15/22		298,000		319,813
8.625%, 01/15/22		850,000		991,329
Invesco Finance plc
4.000%, 01/30/24		500,000		516,216
Jefferies Group LLC
4.850%, 01/15/27		130,000		132,942
5.125%, 01/20/23		300,000		317,452
6.875%, 04/15/21		475,000		517,826
Legg Mason, Inc.
3.950%, 07/15/24		700,000		702,100
National Rural Utilities Cooperative Finance Corp.
2.950%, 02/07/24		210,000		205,555
ORIX Corp.
2.900%, 07/18/22		362,000		353,979
Private Export Funding Corp.
2.800%, 05/15/22		1,000,000		1,006,939
3.550%, 01/15/24		7,383,000		7,678,106
Protective Life Global Funding
1.999%, 09/14/21 (144A)		750,000		716,322
Synchrony Financial
3.700%, 08/04/26		981,000		917,449
TD Ameritrade Holding Corp.
2.950%, 04/01/22		295,000		292,347
				33,805,649
Electric—2.1%
Alabama Power Co.
3.550%, 12/01/23		461,000		467,298
4.150%, 08/15/44		218,000		226,621
Arizona Public Service Co.
2.200%, 01/15/20		142,000		140,440
3.350%, 06/15/24		696,000		696,642
4.500%, 04/01/42		200,000		216,614
Baltimore Gas & Electric Co.
3.750%, 08/15/47		—		0
5.200%, 06/15/33		1,510,000		1,665,461
Berkshire Hathaway Energy Co.
2.400%, 02/01/20		364,000		360,981
3.750%, 11/15/23		1,736,000		1,770,332
6.125%, 04/01/36		325,000		414,199
CenterPoint Energy Houston Electric LLC
2.250%, 08/01/22		950,000		912,147
China Southern Power Grid International Finance BVI Co., Ltd.
3.500%, 05/08/27 (144A)		960,000		925,013
CMS Energy Corp.
3.875%, 03/01/24		170,000		172,232
8.750%, 06/15/19		295,000		313,831
Commonwealth Edison Co.
3.650%, 06/15/46		162,000		153,116
3.750%, 08/15/47		350,000		335,540
Connecticut Light & Power Co. (The)
4.000%, 04/01/48		236,000		241,315
Consolidated Edison Co. of New York, Inc.
3.875%, 06/15/47		700,000		685,698
Consumers Energy Co.
4.350%, 08/31/64		191,000		199,026
5.650%, 04/15/20		200,000		211,460
Delmarva Power & Light Co.
4.150%, 05/15/45		500,000		516,717
Dominion Energy, Inc.
2.750%, 01/15/22		232,000		226,012
2.850%, 08/15/26		183,000		169,592
DTE Electric Co.
3.900%, 06/01/21		1,000,000		1,018,198
5.700%, 10/01/37		300,000		372,098
DTE Energy Co.
3.500%, 06/01/24		449,000		443,875
3.850%, 12/01/23		225,000		229,593
Duke Energy Carolinas LLC
4.300%, 06/15/20		619,000		635,656
6.000%, 01/15/38		600,000		763,441
Duke Energy Indiana LLC
3.750%, 05/15/46		350,000		336,671
Duke Energy Ohio, Inc.
3.800%, 09/01/23		815,000		835,825
Duke Energy Progress LLC
3.700%, 10/15/46		377,000		365,694
4.100%, 03/15/43		200,000		204,538
4.375%, 03/30/44		247,000		265,815
5.300%, 01/15/19		200,000		203,574
5.700%, 04/01/35		360,000		429,027

BHFTI-184

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Edison International
4.125%, 03/15/28		240,000	$	241,754
Enel Finance International NV
3.500%, 04/06/28 (144A)		465,000		433,421
3.625%, 05/25/27 (144A)		480,000		457,158
Entergy Arkansas, Inc.
3.050%, 06/01/23		765,000		750,846
Entergy Corp.
2.950%, 09/01/26		194,000		180,591
Entergy Louisiana LLC
2.400%, 10/01/26		414,000		381,538
3.050%, 06/01/31		195,000		182,303
Entergy Mississippi, Inc.
2.850%, 06/01/28		170,000		159,065
Exelon Corp.
3.497%, 06/01/22		600,000		594,236
Exelon Generation Co. LLC
3.400%, 03/15/22		643,000		643,529
6.250%, 10/01/39		160,000		174,498
FirstEnergy Corp.
4.850%, 07/15/47		289,000		303,983
Florida Power & Light Co.
5.625%, 04/01/34		1,250,000		1,509,921
Fortis, Inc.
3.055%, 10/04/26		1,500,000		1,390,123
Indiana Michigan Power Co.
3.200%, 03/15/23		330,000		326,293
Jersey Central Power & Light Co.
6.150%, 06/01/37		200,000		247,816
Kansas City Power & Light Co.
3.150%, 03/15/23		604,000		596,399
5.300%, 10/01/41		315,000		359,069
Korea Southern Power Co., Ltd.
3.000%, 01/29/21 (144A)		227,000		225,628
Massachusetts Electric Co.
4.004%, 08/15/46 (144A)		402,000		399,249
MidAmerican Energy Co.
3.700%, 09/15/23		1,100,000		1,116,146
Nevada Power Co.
5.375%, 09/15/40		223,000		269,211
6.650%, 04/01/36		360,000		481,358
7.125%, 03/15/19		200,000		207,944
New England Power Co.
3.800%, 12/05/47 (144A)		280,000		271,490
New York State Electric & Gas Corp.
3.250%, 12/01/26 (144A)		434,000		422,962
NextEra Energy Capital Holdings, Inc.
3.625%, 06/15/23		410,000		411,713
Niagara Mohawk Power Corp.
3.508%, 10/01/24 (144A)		305,000		305,928
Northern States Power Co.
6.250%, 06/01/36		200,000		260,452
6.500%, 03/01/28		628,000		742,319
Ohio Power Co.
5.375%, 10/01/21		305,000		328,219
Electric—(Continued)
Pacific Gas & Electric Co.
4.000%, 12/01/46		204,000		191,260
4.250%, 05/15/21		782,000		801,300
6.050%, 03/01/34 (d)		1,200,000		1,430,336
PacifiCorp
3.600%, 04/01/24		315,000		321,595
5.500%, 01/15/19		500,000		510,724
Pennsylvania Electric Co.
3.250%, 03/15/28 (144A)		113,000		106,353
PPL Capital Funding, Inc.
4.000%, 09/15/47		222,000		214,121
PPL Electric Utilities Corp.
2.500%, 09/01/22		300,000		290,820
4.125%, 06/15/44		208,000		218,249
Progress Energy, Inc.
7.000%, 10/30/31		200,000		260,064
PSEG Power LLC
2.450%, 11/15/18		568,000		566,845
Public Service Co. of Colorado
2.500%, 03/15/23		400,000		388,535
Public Service Co. of New Hampshire
3.500%, 11/01/23		272,000		274,815
Public Service Co. of Oklahoma
5.150%, 12/01/19		1,010,000		1,044,555
6.625%, 11/15/37		600,000		781,246
Public Service Electric & Gas Co.
3.800%, 01/01/43		700,000		691,712
Sempra Energy
2.875%, 10/01/22		1,625,000		1,589,166
3.550%, 06/15/24		709,000		704,747
4.050%, 12/01/23		1,054,000		1,081,915
Sierra Pacific Power Co.
3.375%, 08/15/23		556,000		563,445
South Carolina Electric & Gas Co.
6.050%, 01/15/38		250,000		297,659
Southern California Edison Co.
3.650%, 03/01/28		500,000		501,100
5.550%, 01/15/36		500,000		598,499
Southern Co. (The)
2.150%, 09/01/19		855,000		844,187
Southern Power Co.
4.950%, 12/15/46		468,000		485,131
5.150%, 09/15/41		400,000		430,016
Southwestern Public Service Co.
4.500%, 08/15/41		250,000		271,017
State Grid Overseas Investment, Ltd.
1.750%, 05/22/18 (144A)		499,000		498,264
Toledo Edison Co. (The)
6.150%, 05/15/37		400,000		497,531
Tri-State Generation & Transmission Association, Inc.
4.250%, 06/01/46		206,000		199,575
Virginia Electric & Power Co.
2.750%, 03/15/23		400,000		392,088
2.950%, 01/15/22		489,000		485,380
3.450%, 02/15/24		102,000		102,320
4.450%, 02/15/44 (d)		126,000		133,432

BHFTI-185

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Virginia Electric & Power Co.
6.000%, 05/15/37		685,000	$	854,763
				50,122,219
Electronics—0.1%
Arrow Electronics, Inc.
3.250%, 09/08/24		439,000		418,475
3.875%, 01/12/28		376,000		364,258
Koninklijke Philips NV
3.750%, 03/15/22		1,680,000		1,720,906
				2,503,639
Engineering & Construction—0.0%
Fluor Corp.
3.375%, 09/15/21		550,000		554,189
Mexico City Airport Trust
5.500%, 07/31/47 (144A) (d)		208,000		189,800
				743,989
Environmental Control—0.0%
Republic Services, Inc.
5.500%, 09/15/19		650,000		673,397
Waste Management, Inc.
3.125%, 03/01/25		257,000		249,627
				923,024
Food—0.5%
Campbell Soup Co.
3.950%, 03/15/25		790,000		786,277
Danone S.A.
2.589%, 11/02/23 (144A)		1,000,000		947,515
Kellogg Co.
3.400%, 11/15/27		700,000		669,639
Kraft Heinz Foods Co.
3.950%, 07/15/25		260,000		258,857
5.000%, 07/15/35		1,400,000		1,451,597
6.125%, 08/23/18		700,000		709,688
6.500%, 02/09/40		400,000		474,737
6.875%, 01/26/39		731,000		902,439
Kroger Co. (The)
4.000%, 02/01/24		229,000		233,386
7.500%, 04/01/31		1,140,000		1,449,240
8.000%, 09/15/29		610,000		782,551
McCormick & Co., Inc.
3.150%, 08/15/24		269,000		261,041
3.400%, 08/15/27		396,000		378,995
Sysco Corp.
3.550%, 03/15/25		340,000		338,141
4.450%, 03/15/48		200,000		199,921
Tyson Foods, Inc.
3.950%, 08/15/24		1,456,000		1,465,001
				11,309,025
Forest Products & Paper—0.1%
International Paper Co.
3.000%, 02/15/27		429,000		396,762
7.300%, 11/15/39		350,000		458,478
8.700%, 06/15/38		250,000		362,082
				1,217,322
Gas—0.3%
Atmos Energy Corp.
4.125%, 10/15/44		450,000		465,933
4.150%, 01/15/43		460,000		482,775
8.500%, 03/15/19		200,000		210,552
Brooklyn Union Gas Co. (The)
4.273%, 03/15/48 (144A)		500,000		518,383
CenterPoint Energy Resources Corp.
4.500%, 01/15/21		429,000		442,586
KeySpan Gas East Corp.
2.742%, 08/15/26 (144A)		345,000		323,059
Korea Gas Corp.
1.875%, 07/18/21 (144A)		400,000		381,551
NiSource, Inc.
4.800%, 02/15/44		162,000		171,720
6.250%, 12/15/40		510,000		642,454
Southern Co. Gas Capital Corp.
2.450%, 10/01/23		172,000		163,306
3.500%, 09/15/21		1,000,000		1,005,708
3.950%, 10/01/46		212,000		201,138
4.400%, 06/01/43		375,000		376,412
6.000%, 10/01/34		1,000,000		1,173,844
Southwest Gas Corp.
3.800%, 09/29/46		332,000		323,591
				6,883,012
Healthcare-Products—0.2%
Abbott Laboratories
3.875%, 09/15/25		464,000		468,691
Becton Dickinson & Co.
3.734%, 12/15/24		85,000		83,576
Covidien International Finance S.A.
2.950%, 06/15/23		377,000		370,230
Medtronic, Inc.
3.125%, 03/15/22		398,000		398,313
4.375%, 03/15/35		895,000		949,607
Stryker Corp.
4.100%, 04/01/43		600,000		586,718
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		286,000		266,988
3.150%, 01/15/23		1,066,000		1,048,804
4.150%, 02/01/24		515,000		529,040
Zimmer Biomet Holdings, Inc.
3.700%, 03/19/23		233,000		233,458
				4,935,425
Healthcare-Services—0.3%
Aetna, Inc.
2.800%, 06/15/23		269,000		258,468
6.625%, 06/15/36		297,000		375,061

BHFTI-186

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
Anthem, Inc.
2.300%, 07/15/18		751,000	$	750,354
3.500%, 08/15/24		1,035,000		1,014,923
4.101%, 03/01/28 (d)		460,000		459,667
4.650%, 08/15/44		324,000		327,706
Laboratory Corp. of America Holdings
3.200%, 02/01/22		447,000		444,843
Magellan Health, Inc.
4.400%, 09/22/24		1,000,000		993,799
Providence St. Joseph Health Obligated Group
2.746%, 10/01/26		210,000		198,250
Quest Diagnostics, Inc.
3.450%, 06/01/26		140,000		135,799
4.750%, 01/30/20		400,000		413,325
Roche Holdings, Inc.
3.350%, 09/30/24 (144A)		660,000		663,032
Texas Health Resources
4.330%, 11/15/55		250,000		262,217
UnitedHealth Group, Inc.
2.875%, 03/15/23		250,000		245,888
4.625%, 07/15/35		320,000		349,980
5.800%, 03/15/36		675,000		827,456
				7,720,768
Holding Companies-Diversified—0.1%
Hutchison Whampoa International 11, Ltd.
4.625%, 01/13/22 (144A)		1,100,000		1,147,504
Household Products/Wares—0.0%
Kimberly-Clark Corp.
2.400%, 06/01/23		600,000		581,262
Housewares—0.0%
Newell Brands, Inc.
5.375%, 04/01/36		350,000		365,003
5.500%, 04/01/46		200,000		212,302
				577,305
Insurance—1.4%
AIA Group, Ltd.
3.900%, 04/06/28 (144A)		415,000		418,101
AIG SunAmerica Global Financing X
6.900%, 03/15/32 (144A)		1,000,000		1,314,733
Allstate Corp. (The)
3.150%, 06/15/23		407,000		405,473
American International Group, Inc.
3.875%, 01/15/35		259,000		241,561
4.125%, 02/15/24		868,000		880,799
4.200%, 04/01/28 (d)		400,000		405,378
Aon plc
3.500%, 06/14/24		935,000		929,184
Arch Capital Finance LLC
5.031%, 12/15/46		306,000		338,223
Assurant, Inc.
4.200%, 09/27/23		605,000		608,286
Insurance—(Continued)
Athene Global Funding
2.750%, 04/20/20 (144A)		844,000		836,941
4.000%, 01/25/22 (144A)		368,000		372,551
Athene Holding, Ltd.
4.125%, 01/12/28		575,000		551,775
Berkshire Hathaway Finance Corp.
4.300%, 05/15/43		831,000		878,913
Berkshire Hathaway, Inc.
3.000%, 02/11/23		1,000,000		1,001,567
Chubb INA Holdings, Inc.
2.700%, 03/13/23		400,000		389,761
2.875%, 11/03/22		260,000		257,574
3.150%, 03/15/25		131,000		128,198
3.350%, 05/15/24		435,000		434,523
Dai-ichi Life Insurance Co., Ltd. (The)
4.000%, 3M LIBOR + 3.660%, 07/24/26 (144A) (a)		759,000		722,492
Great-West Lifeco Finance Delaware L.P.
4.150%, 06/03/47 (144A)		720,000		724,976
Guardian Life Insurance Co. of America (The)
4.850%, 01/24/77 (144A)		156,000		160,761
Hartford Financial Services Group, Inc. (The)
4.400%, 03/15/48 (d)		600,000		612,289
Jackson National Life Global Funding
3.050%, 04/29/26 (144A)		300,000		288,412
3.250%, 01/30/24 (144A)		460,000		455,420
Liberty Mutual Group, Inc.
4.950%, 05/01/22 (144A)		700,000		739,136
Liberty Mutual Insurance Co.
8.500%, 05/15/25 (144A)		800,000		1,001,614
Lincoln National Corp.
4.200%, 03/15/22		350,000		360,546
6.250%, 02/15/20		800,000		845,758
Manulife Financial Corp.
4.061%, 5Y USD Swap + 1.647%, 02/24/32 (a)		950,000		927,633
Marsh & McLennan Cos., Inc.
2.350%, 03/06/20		453,000		448,323
2.750%, 01/30/22		58,000		57,061
3.500%, 03/10/25		621,000		616,434
Massachusetts Mutual Life Insurance Co.
5.625%, 05/15/33 (144A)		720,000		823,943
7.625%, 11/15/23 (144A)		550,000		638,384
MassMutual Global Funding II
5.250%, 07/31/18 (144A)		880,000		888,651
Nationwide Mutual Insurance Co.
8.250%, 12/01/31 (144A)		1,000,000		1,371,550
9.375%, 08/15/39 (144A)		200,000		323,475
New York Life Global Funding
1.550%, 11/02/18 (144A)		317,000		315,250
3.000%, 01/10/28 (144A)		485,000		461,987
OneBeacon U.S. Holdings, Inc.
4.600%, 11/09/22		750,000		760,575
Pacific Life Insurance Co.
4.300%, 3M USD LIBOR + 2.796%, 10/24/67 (144A) (a)		446,000		425,595
Pricoa Global Funding I
1.600%, 05/29/18 (144A)		1,678,000		1,675,490

BHFTI-187

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Principal Financial Group, Inc.
3.125%, 05/15/23		250,000	$	245,337
Progressive Corp. (The)
2.450%, 01/15/27		600,000		550,388
5.375%, 3M LIBOR + 2.539%, 03/15/23 (a)		430,000		434,837
Prudential Insurance Co. of America (The)
8.300%, 07/01/25 (144A)		2,150,000		2,724,115
Reliance Standard Life Global Funding II
2.500%, 01/15/20 (144A)		240,000		237,607
3.050%, 01/20/21 (144A)		149,000		148,353
Teachers Insurance & Annuity Association of America
4.270%, 05/15/47 (144A)		480,000		480,075
Voya Financial, Inc.
3.125%, 07/15/24		500,000		481,257
3.650%, 06/15/26		150,000		146,212
XLIT, Ltd.
6.375%, 11/15/24		921,000		1,064,336
				32,551,813
Internet—0.3%
Alibaba Group Holding, Ltd.
4.000%, 12/06/37		244,000		230,875
Amazon.com, Inc.
2.800%, 08/22/24 (144A)		1,020,000		989,710
3.875%, 08/22/37 (144A)		800,000		797,168
4.250%, 08/22/57 (144A)		1,000,000		997,385
4.800%, 12/05/34		815,000		902,842
eBay, Inc.
2.600%, 07/15/22		1,990,000		1,925,163
4.000%, 07/15/42		700,000		621,588
Tencent Holdings, Ltd.
3.595%, 01/19/28 (144A)		955,000		919,836
				7,384,567
Iron/Steel—0.1%
Nucor Corp.
4.000%, 08/01/23		1,049,000		1,085,800
6.400%, 12/01/37		250,000		325,251
Vale Overseas, Ltd.
6.250%, 08/10/26		382,000		427,840
6.875%, 11/21/36		750,000		882,150
				2,721,041
Machinery-Construction & Mining—0.1%
ABB Finance USA, Inc.
3.800%, 04/03/28		285,000		287,705
Caterpillar Financial Services Corp.
2.750%, 08/20/21		360,000		356,778
3.250%, 12/01/24		393,000		388,385
3.750%, 11/24/23		769,000		789,413
7.150%, 02/15/19		1,000,000		1,040,320
				2,862,601
Machinery-Diversified—0.1%
Deere & Co.
8.100%, 05/15/30		600,000		839,676
Nvent Finance Sarl
4.550%, 04/15/28 (144A)		562,000		564,592
Roper Technologies, Inc.
3.000%, 12/15/20		125,000		124,565
Xylem, Inc.
3.250%, 11/01/26		118,000		113,756
				1,642,589
Media—1.1%
21st Century Fox America, Inc.
3.700%, 10/15/25		700,000		707,349
6.150%, 02/15/41		500,000		629,190
6.550%, 03/15/33		370,000		469,979
6.900%, 03/01/19		900,000		932,830
CBS Corp.
3.700%, 08/15/24		874,000		868,556
4.850%, 07/01/42		255,000		254,097
4.900%, 08/15/44		135,000		135,494
5.900%, 10/15/40		125,000		142,783
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
4.908%, 07/23/25		2,174,000		2,221,624
6.384%, 10/23/35		275,000		307,189
6.834%, 10/23/55		400,000		462,531
Comcast Corp.
3.900%, 03/01/38		591,000		572,921
4.200%, 08/15/34		556,000		561,469
4.250%, 01/15/33		1,880,000		1,947,868
6.500%, 11/15/35		308,000		393,266
COX Communications, Inc.
3.250%, 12/15/22 (144A)		1,010,000		991,535
4.800%, 02/01/35 (144A) (d)		1,100,000		1,079,443
Discovery Communications LLC
3.300%, 05/15/22		625,000		619,003
3.950%, 03/20/28		315,000		302,162
4.375%, 06/15/21		1,240,000		1,275,070
Grupo Televisa S.A.B.
6.125%, 01/31/46		200,000		218,911
NBCUniversal Enterprise, Inc.
1.974%, 04/15/19 (144A)		1,000,000		992,690
NBCUniversal Media LLC
2.875%, 01/15/23		1,000,000		981,575
Sky plc
3.750%, 09/16/24 (144A)		431,000		437,568
TCI Communications, Inc.
7.125%, 02/15/28		801,000		999,042
Thomson Reuters Corp.
3.950%, 09/30/21		2,252,000		2,280,817
5.850%, 04/15/40		100,000		115,305
Time Warner Cable LLC
4.125%, 02/15/21		1,300,000		1,314,074
5.500%, 09/01/41		1,000,000		993,530

BHFTI-188

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Time Warner, Inc.
3.550%, 06/01/24		2,285,000	$	2,253,301
3.600%, 07/15/25		665,000		647,099
Viacom, Inc.
3.875%, 04/01/24 (d)		237,000		236,008
6.875%, 04/30/36		798,000		948,665
Walt Disney Co. (The)
1.850%, 07/30/26		156,000		138,960
3.000%, 07/30/46		60,000		51,258
				27,483,162
Mining—0.1%
Anglo American Capital plc
3.625%, 09/11/24 (144A)		336,000		323,689
4.000%, 09/11/27 (144A)		600,000		575,402
Barrick Gold Corp.
6.450%, 10/15/35		700,000		864,718
BHP Billiton Finance USA, Ltd.
2.875%, 02/24/22		98,000		97,479
5.000%, 09/30/43		414,000		478,253
Vale Canada, Ltd.
7.200%, 09/15/32		500,000		562,500
				2,902,041
Miscellaneous Manufacturing—0.2%
Eaton Corp.
6.950%, 03/20/19		282,000		293,052
General Electric Co.
3.450%, 05/15/24		393,000		385,659
4.375%, 09/16/20		1,060,000		1,087,098
5.500%, 01/08/20		616,000		640,683
6.000%, 08/07/19		673,000		697,681
Illinois Tool Works, Inc.
1.950%, 03/01/19		252,000		250,630
Ingersoll-Rand Global Holding Co., Ltd.
3.750%, 08/21/28		300,000		297,834
Ingersoll-Rand Luxembourg Finance S.A.
2.625%, 05/01/20		320,000		317,396
Parker-Hannifin Corp.
3.300%, 11/21/24		143,000		142,083
4.100%, 03/01/47		250,000		255,326
4.450%, 11/21/44		333,000		356,323
Siemens Financieringsmaatschappij NV
3.125%, 03/16/24 (144A)		500,000		493,726
3.300%, 09/15/46 (144A)		350,000		315,382
Textron, Inc.
3.650%, 03/15/27		342,000		335,247
				5,868,120
Multi-National—0.1%
African Development Bank
8.800%, 09/01/19		1,275,000		1,378,091
Oil & Gas—2.0%
Anadarko Finance Co.
7.500%, 05/01/31		805,000		1,028,438
Anadarko Holding Co.
7.150%, 05/15/28		949,000		1,103,626
Anadarko Petroleum Corp.
8.700%, 03/15/19		1,600,000		1,683,410
Apache Corp.
3.250%, 04/15/22		870,000		860,064
5.100%, 09/01/40		650,000		665,345
BP Capital Markets plc
1.375%, 05/10/18		518,000		517,358
3.017%, 01/16/27		105,000		100,106
3.224%, 04/14/24		1,000,000		986,831
3.245%, 05/06/22		1,475,000		1,477,774
3.535%, 11/04/24		300,000		300,900
3.588%, 04/14/27		550,000		548,920
3.814%, 02/10/24		650,000		663,138
Canadian Natural Resources, Ltd.
3.900%, 02/01/25		512,000		510,038
5.850%, 02/01/35		150,000		170,942
6.450%, 06/30/33		200,000		239,128
Cenovus Energy, Inc.
6.750%, 11/15/39 (d)		1,100,000		1,267,263
Chevron Corp.
2.355%, 12/05/22		690,000		669,611
2.411%, 03/03/22		500,000		489,929
2.895%, 03/03/24		537,000		527,588
3.191%, 06/24/23		425,000		425,864
CNOOC Finance 2013, Ltd.
3.000%, 05/09/23		848,000		815,047
CNOOC Finance 2015 Australia Pty, Ltd.
2.625%, 05/05/20		393,000		388,654
ConocoPhillips Holding Co.
6.950%, 04/15/29		700,000		890,381
Devon Energy Corp.
4.000%, 07/15/21		300,000		305,474
Ecopetrol S.A.
4.125%, 01/16/25 (d)		433,000		421,525
5.875%, 09/18/23		282,000		301,740
Encana Corp.
6.500%, 08/15/34		150,000		178,585
7.200%, 11/01/31		400,000		492,955
8.125%, 09/15/30		450,000		586,819
Eni USA, Inc.
7.300%, 11/15/27		480,000		595,575
EOG Resources, Inc.
4.100%, 02/01/21		880,000		900,262
5.100%, 01/15/36		314,000		347,457
EQT Corp.
3.900%, 10/01/27		458,000		438,146
Exxon Mobil Corp.
2.726%, 03/01/23		945,000		933,316
4.114%, 03/01/46 (d)		440,000		462,269
Hess Corp.
6.000%, 01/15/40		300,000		316,735
7.125%, 03/15/33		600,000		719,823

BHFTI-189

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Marathon Oil Corp.
2.800%, 11/01/22 (d)		900,000	$	867,568
6.600%, 10/01/37		200,000		241,248
Marathon Petroleum Corp.
3.625%, 09/15/24		371,000		368,815
Nabors Industries, Inc.
4.625%, 09/15/21 (d)		1,975,000		1,906,369
5.000%, 09/15/20 (d)		300,000		299,250
Noble Energy, Inc.
5.625%, 05/01/21		218,000		222,077
6.000%, 03/01/41		360,000		412,174
Occidental Petroleum Corp.
3.000%, 02/15/27		350,000		335,517
4.200%, 03/15/48		500,000		503,704
Petro-Canada
5.950%, 05/15/35		210,000		254,533
7.875%, 06/15/26		544,000		677,407
9.250%, 10/15/21		243,000		291,439
Petroleos Mexicanos
4.625%, 09/21/23		800,000		801,672
4.875%, 01/18/24		317,000		321,596
5.350%, 02/12/28 (144A) (d)		339,000		334,390
6.350%, 02/12/48 (144A)		684,000		660,915
6.375%, 01/23/45		918,000		892,296
6.500%, 03/13/27		742,000		792,456
6.750%, 09/21/47		716,000		724,506
6.875%, 08/04/26 (d)		1,305,000		1,434,195
Phillips 66 3.900%, 03/15/28		425,000		423,459
Shell International Finance B.V. 2.875%, 05/10/26		1,509,000		1,454,285
3.400%, 08/12/23		420,000		424,383
3.750%, 09/12/46		806,000		777,190
4.000%, 05/10/46		1,585,000		1,586,334
4.125%, 05/11/35		600,000		621,668
4.300%, 09/22/19		800,000		818,839
Sinopec Capital 2013, Ltd. 3.125%, 04/24/23 (144A)		700,000		677,949
Sinopec Group Overseas Development 2013, Ltd. 4.375%, 10/17/23 (144A)		1,246,000		1,277,924
Statoil ASA 1.150%, 05/15/18		389,000		388,516
2.650%, 01/15/24		393,000		379,175
3.250%, 11/10/24		399,000		395,331
7.250%, 09/23/27		1,040,000		1,319,005
Suncor Energy, Inc. 5.950%, 12/01/34		668,000		808,993
Total Capital International S.A. 3.700%, 01/15/24		654,000		666,627
Valero Energy Corp. 7.500%, 04/15/32		180,000		235,743
				47,928,584
Oil & Gas Services—0.1%
Baker Hughes a GE Co. LLC 5.125%, 09/15/40		360,000		398,921
Oil & Gas Services—(Continued)
Halliburton Co. 4.850%, 11/15/35		270,000		290,761
6.750%, 02/01/27		650,000		738,100
7.450%, 09/15/39		200,000		277,377
8.750%, 02/15/21		350,000		401,030
Schlumberger Investment S.A. 2.400%, 08/01/22 (144A)		600,000		579,918
3.300%, 09/14/21 (144A)		650,000		653,571
				3,339,678
Packaging & Containers—0.0%
WestRock Co. 3.750%, 03/15/25 (144A)		300,000		299,305
Pharmaceuticals—1.0%
AbbVie, Inc. 2.850%, 05/14/23		200,000		193,691
3.600%, 05/14/25		1,787,000		1,761,131
4.300%, 05/14/36		27,000		27,004
4.500%, 05/14/35		2,340,000		2,396,634
Allergan Funding SCS 3.450%, 03/15/22		1,504,000		1,491,142
3.850%, 06/15/24		1,038,000		1,025,526
4.550%, 03/15/35		652,000		638,296
Allergan, Inc. 2.800%, 03/15/23		172,000		163,514
3.375%, 09/15/20		474,000		474,283
Bayer U.S. Finance LLC 2.375%, 10/08/19 (144A)		423,000		419,340
3.375%, 10/08/24 (144A)		472,000		463,770
Cardinal Health, Inc. 3.410%, 06/15/27 (d)		400,000		376,734
3.750%, 09/15/25		150,000		148,610
CVS Health Corp. 4.100%, 03/25/25		3,038,000		3,059,418
4.300%, 03/25/28		813,000		816,464
4.780%, 03/25/38		1,200,000		1,216,236
5.050%, 03/25/48		670,000		704,697
CVS Pass-Through Trust 5.773%, 01/10/33 (144A)		786,431		838,677
6.204%, 10/10/25 (144A)		624,619		666,028
8.353%, 07/10/31 (144A)		158,048		194,361
Express Scripts Holding Co. 3.000%, 07/15/23		900,000		862,532
3.500%, 06/15/24		300,000		292,933
4.800%, 07/15/46		156,000		158,359
Johnson & Johnson 3.400%, 01/15/38		741,000		712,500
McKesson Corp. 3.950%, 02/16/28		184,000		181,720
Mead Johnson Nutrition Co. 4.125%, 11/15/25		89,000		91,340
Medco Health Solutions, Inc. 4.125%, 09/15/20		800,000		816,067

BHFTI-190

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Merck & Co., Inc. 2.400%, 09/15/22		343,000	$	334,883
2.800%, 05/18/23		625,000		615,983
3.700%, 02/10/45		60,000		58,537
Mylan, Inc. 3.125%, 01/15/23 (144A)		300,000		290,297
4.550%, 04/15/28 (144A)		700,000		701,138
Novartis Capital Corp. 3.400%, 05/06/24		863,000		869,379
Pfizer, Inc. 3.000%, 12/15/26		450,000		435,804
Shire Acquisitions Investments Ireland DAC 2.875%, 09/23/23		445,000		424,833
Teva Pharmaceutical Finance Netherlands B.V. 2.800%, 07/21/23		1,137,000		963,360
				24,885,221
Pipelines—1.2%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 4.250%, 12/01/27		375,000		365,580
ANR Pipeline Co. 7.375%, 02/15/24		226,000		260,740
APT Pipelines, Ltd. 4.250%, 07/15/27 (144A)		687,000		686,831
Boardwalk Pipelines L.P. 4.450%, 07/15/27		132,000		128,333
4.950%, 12/15/24		833,000		855,729
5.950%, 06/01/26		191,000		204,689
Buckeye Partners L.P. 2.650%, 11/15/18		400,000		399,002
3.950%, 12/01/26		111,000		104,795
4.875%, 02/01/21		600,000		617,272
5.850%, 11/15/43		575,000		588,376
Enbridge, Inc. 3.700%, 07/15/27		538,000		515,715
4.500%, 06/10/44		350,000		338,752
6.250%, 03/01/78 (a)		480,000		475,497
Energy Transfer L.P.
3.600%, 02/01/23		114,000		111,125
4.750%, 01/15/26		308,000		311,418
4.900%, 02/01/24		244,000		250,481
6.050%, 06/01/41		1,167,000		1,183,732
Energy Transfer L.P. / Regency Energy Finance Corp.
5.000%, 10/01/22		270,000		280,690
Energy Transfer Partners L.P.
6.500%, 02/01/42		134,000		144,735
Energy Transfer Partners L.P.
4.050%, 03/15/25		273,000		267,744
EnLink Midstream Partners L.P.
2.700%, 04/01/19		200,000		198,903
4.150%, 06/01/25		261,000		253,674
5.600%, 04/01/44		201,000		200,875
Enterprise Products Operating LLC
3.350%, 03/15/23		417,000		415,520
3.750%, 02/15/25		515,000		517,307
Pipelines—(Continued)
Enterprise Products Operating LLC
3.900%, 02/15/24		662,000		670,394
4.950%, 10/15/54		179,000		184,060
5.100%, 02/15/45		379,000		412,081
6.875%, 03/01/33		150,000		188,877
Gulf South Pipeline Co. L.P.
4.000%, 06/15/22		200,000		201,039
Kinder Morgan, Inc.
4.300%, 03/01/28		1,000,000		995,639
5.200%, 03/01/48		870,000		873,897
Magellan Midstream Partners L.P.
4.200%, 12/01/42		269,000		252,665
4.250%, 02/01/21		659,000		673,419
5.150%, 10/15/43		201,000		219,081
6.400%, 07/15/18		1,420,000		1,433,612
MPLX L.P.
4.000%, 03/15/28		373,000		367,597
4.500%, 04/15/38		285,000		281,389
4.875%, 12/01/24		529,000		554,692
5.200%, 03/01/47		215,000		224,673
ONEOK Partners L.P.
3.200%, 09/15/18		145,000		145,541
3.375%, 10/01/22		44,000		43,308
4.900%, 03/15/25		1,000,000		1,043,868
5.000%, 09/15/23		96,000		101,261
6.650%, 10/01/36		950,000		1,144,891
Phillips 66 Partners L.P.
3.550%, 10/01/26		117,000		111,341
4.900%, 10/01/46		255,000		255,985
Plains All American Pipeline L.P. / PAA Finance Corp.
3.600%, 11/01/24		1,875,000		1,787,161
3.650%, 06/01/22		176,000		173,598
4.900%, 02/15/45		100,000		91,958
Southern Natural Gas Co. LLC
4.800%, 03/15/47 (144A)		244,000		256,804
8.000%, 03/01/32		210,000		274,556
Sunoco Logistics Partners Operations L.P.
3.900%, 07/15/26		117,000		111,142
4.250%, 04/01/24		233,000		231,681
4.950%, 01/15/43		394,000		357,202
5.300%, 04/01/44		200,000		186,037
5.350%, 05/15/45		633,000		589,708
6.100%, 02/15/42		500,000		507,241
TC PipeLines L.P.
3.900%, 05/25/27		254,000		242,963
TransCanada PipeLines, Ltd.
2.500%, 08/01/22		350,000		340,602
3.750%, 10/16/23		910,000		928,603
7.125%, 01/15/19		490,000		507,259
7.250%, 08/15/38		200,000		271,371
Valero Energy Partners L.P.
4.500%, 03/15/28		215,000		216,261
Western Gas Partners L.P.
4.500%, 03/01/28		136,000		136,277
4.650%, 07/01/26		280,000		283,466
5.300%, 03/01/48		294,000		291,175
5.450%, 04/01/44		178,000		179,852

BHFTI-191

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—(Continued)
Williams Partners L.P.
3.900%, 01/15/25		262,000	$	259,476
4.850%, 03/01/48		427,000		422,678
				28,703,896
Real Estate—0.1%
Goodman Australia Industrial Fund Bond Issuer Pty, Ltd.
3.400%, 09/30/26 (144A)		632,000		595,831
Mitsui Fudosan Co., Ltd.
3.650%, 07/20/27 (144A)		0		0
Ontario Teachers’ Cadillac Fairview Properties Trust
3.125%, 03/20/22 (144A)		579,000		575,724
3.875%, 03/20/27 (144A)		603,000		606,794
ProLogis L.P.
3.750%, 11/01/25		89,000		89,881
				1,868,230
Real Estate Investment Trusts—1.0%
American Tower Corp.
2.250%, 01/15/22		500,000		478,131
3.375%, 10/15/26		287,000		268,543
3.500%, 01/31/23		790,000		785,465
AvalonBay Communities, Inc.
2.850%, 03/15/23		400,000		390,794
2.900%, 10/15/26 (d)		165,000		154,677
3.900%, 10/15/46		150,000		141,259
Boston Properties L.P.
2.750%, 10/01/26		300,000		273,094
3.200%, 01/15/25		380,000		366,817
3.800%, 02/01/24		500,000		503,080
3.850%, 02/01/23		800,000		815,199
Brixmor Operating Partnership L.P.
3.850%, 02/01/25		500,000		488,409
Crown Castle International Corp.
4.000%, 03/01/27		166,000		163,234
4.875%, 04/15/22		835,000		877,284
DDR Corp.
4.700%, 06/01/27		226,000		230,257
Digital Realty Trust L.P.
3.700%, 08/15/27		270,000		260,181
Duke Realty L.P.
3.625%, 04/15/23		1,128,000		1,135,327
EPR Properties
4.500%, 06/01/27		497,000		484,536
Equity Commonwealth
5.875%, 09/15/20		800,000		832,049
ERP Operating L.P.
2.375%, 07/01/19		538,000		535,510
2.850%, 11/01/26		230,000		217,779
3.500%, 03/01/28		294,000		287,970
4.625%, 12/15/21		150,000		156,744
4.750%, 07/15/20		578,000		599,128
Goodman U.S. Finance Four LLC
4.500%, 10/15/37 (144A)		372,000		370,665
Real Estate Investment Trusts—(Continued)
Goodman U.S. Finance Three LLC
3.700%, 03/15/28 (144A)		387,000		371,906
Government Properties Income Trust
4.000%, 07/15/22		627,000		625,176
HCP, Inc.
3.400%, 02/01/25		303,000		294,215
3.875%, 08/15/24		1,986,000		1,968,981
Kimco Realty Corp.
3.800%, 04/01/27		600,000		577,648
Liberty Property L.P.
3.250%, 10/01/26		199,000		189,392
National Retail Properties, Inc.
3.600%, 12/15/26		453,000		436,099
Realty Income Corp.
3.000%, 01/15/27		410,000		378,607
3.875%, 04/15/25		505,000		503,402
4.650%, 03/15/47		225,000		231,313
Scentre Group Trust 1 / Scentre Group Trust 2
3.500%, 02/12/25 (144A)		720,000		710,604
Select Income REIT
3.600%, 02/01/20		1,000,000		997,854
Senior Housing Properties Trust
3.250%, 05/01/19		550,000		550,402
4.750%, 02/15/28		500,000		489,882
Simon Property Group L.P.
2.750%, 02/01/23		200,000		195,076
4.375%, 03/01/21		1,185,000		1,227,158
UDR, Inc.
2.950%, 09/01/26		233,000		214,528
Ventas Realty L.P.
3.500%, 02/01/25		197,000		191,820
3.750%, 05/01/24		647,000		648,410
3.850%, 04/01/27		369,000		360,936
VEREIT Operating Partnership L.P.
4.600%, 02/06/24		960,000		972,394
Welltower, Inc.
4.000%, 06/01/25		300,000		299,759
4.500%, 01/15/24		1,024,000		1,059,030
5.250%, 01/15/22		600,000		637,444
				24,948,168
Retail—0.4%
Advance Auto Parts, Inc.
4.500%, 12/01/23		1,001,000		1,036,092
AutoZone, Inc.
3.750%, 06/01/27 (d)		344,000		336,963
Dollar General Corp.
4.125%, 05/01/28		485,000		489,337
Home Depot, Inc. (The)
2.125%, 09/15/26		193,000		174,585
2.625%, 06/01/22		700,000		689,540
3.500%, 09/15/56		134,000		119,657
3.750%, 02/15/24		586,000		606,198
4.200%, 04/01/43		207,000		214,055
4.400%, 03/15/45		143,000		153,303

BHFTI-192

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Retail—(Continued)
Lowe’s Cos., Inc.
3.120%, 04/15/22 (d)		900,000	$	905,662
3.125%, 09/15/24		276,000		271,922
McDonald’s Corp.
3.350%, 04/01/23		235,000		236,301
4.450%, 03/01/47		180,000		185,528
4.700%, 12/09/35		84,000		89,732
6.300%, 10/15/37		152,000		195,096
O’Reilly Automotive, Inc.
3.600%, 09/01/27		494,000		478,662
Target Corp.
3.500%, 07/01/24		484,000		491,472
Walgreen Co.
4.400%, 09/15/42		200,000		187,136
Walgreens Boots Alliance, Inc.
4.500%, 11/18/34		349,000		345,270
Walmart, Inc.
3.300%, 04/22/24		575,000		578,220
Walmart, Inc.
3.625%, 12/15/47 (d)		500,000		489,204
				8,273,935
Savings & Loans—0.0%
Nationwide Building Society
4.000%, 09/14/26 (144A)		449,000		432,628
4.302%, 03/08/29 (144A) (a)		600,000		598,219
				1,030,847
Semiconductors—0.2%
Analog Devices, Inc.
3.125%, 12/05/23		293,000		286,954
4.500%, 12/05/36		336,000		341,327
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.625%, 01/15/24		1,205,000		1,185,394
3.875%, 01/15/27		1,121,000		1,090,266
Intel Corp.
3.150%, 05/11/27		200,000		195,844
3.700%, 07/29/25		260,000		265,712
4.000%, 12/15/32		1,000,000		1,041,198
QUALCOMM, Inc.
2.600%, 01/30/23		69,000		66,179
3.250%, 05/20/27		627,000		594,374
				5,067,248
Software—0.6%
Microsoft Corp.
2.400%, 08/08/26		400,000		372,231
2.875%, 02/06/24		1,252,000		1,230,319
3.300%, 02/06/27		502,000		498,371
3.500%, 02/12/35		296,000		292,361
3.950%, 08/08/56		180,000		178,913
4.000%, 02/12/55		310,000		314,868
4.100%, 02/06/37		924,000		979,793
4.500%, 02/06/57		810,000		887,854
Software—(Continued)
Oracle Corp.
2.500%, 10/15/22		3,410,000		3,324,732
2.950%, 11/15/24		900,000		875,706
3.800%, 11/15/37		900,000		889,967
3.850%, 07/15/36		800,000		792,551
3.900%, 05/15/35		230,000		229,971
4.300%, 07/08/34 (d)		1,676,000		1,769,394
VMware, Inc.
2.950%, 08/21/22		933,000		894,142
				13,531,173
Telecommunications—1.6%
America Movil S.A.B. de C.V.
3.125%, 07/16/22 (d)		1,600,000		1,573,277
AT&T, Inc.
3.400%, 05/15/25		891,000		858,521
3.950%, 01/15/25		858,000		857,467
4.125%, 02/17/26		570,000		571,381
4.300%, 02/15/30 (144A)		5,805,000		5,771,842
4.450%, 04/01/24		262,000		270,424
4.500%, 05/15/35		1,000,000		982,154
4.550%, 03/09/49		149,000		139,259
4.750%, 05/15/46		296,000		287,488
4.900%, 08/14/37		2,260,000		2,272,761
5.150%, 11/15/46 (144A)		1,272,000		1,300,007
5.350%, 09/01/40		726,000		762,030
6.350%, 03/15/40		530,000		614,981
6.375%, 03/01/41		300,000		348,434
Cisco Systems, Inc.
3.000%, 06/15/22		278,000		277,248
3.625%, 03/04/24		700,000		713,580
5.900%, 02/15/39		900,000		1,176,059
Deutsche Telekom International Finance B.V.
3.600%, 01/19/27 (144A)		980,000		962,050
Qwest Corp.
6.875%, 09/15/33		587,000		558,618
Rogers Communications, Inc.
8.750%, 05/01/32		940,000		1,283,441
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC
3.360%, 09/20/21 (144A)		1,635,375		1,625,154
Telefonica Emisiones S.A.U.
3.192%, 04/27/18		210,000		210,084
4.103%, 03/08/27 (d)		588,000		587,397
4.665%, 03/06/38		625,000		632,194
5.134%, 04/27/20		551,000		572,329
5.213%, 03/08/47		547,000		581,338
Verizon Communications, Inc.
3.000%, 11/01/21		1,500,000		1,488,379
3.450%, 03/15/21		534,000		539,374
4.125%, 03/16/27 (d)		400,000		405,166
4.400%, 11/01/34		1,263,000		1,247,341
4.500%, 08/10/33		2,329,000		2,357,698
4.672%, 03/15/55		339,000		322,449
4.812%, 03/15/39		4,185,000		4,276,672

BHFTI-193

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Verizon Communications, Inc.
5.012%, 08/21/54		204,000	$	203,971
5.250%, 03/16/37		548,000		590,914
Vodafone Group plc
6.150%, 02/27/37		500,000		581,204
				37,802,686
Transportation—0.4%
Burlington Northern Santa Fe LLC
3.050%, 09/01/22		300,000		299,360
7.950%, 08/15/30		1,185,000		1,619,303
Burlington Northern, Inc.
8.750%, 02/25/22		812,000		965,301
Canadian Pacific Railway Co.
4.500%, 01/15/22		300,000		312,209
6.125%, 09/15/15		100,000		124,892
6.500%, 05/15/18		680,000		683,135
7.125%, 10/15/31		872,000		1,137,074
CSX Corp.
3.250%, 06/01/27		324,000		309,692
6.000%, 10/01/36		300,000		365,620
FedEx Corp.
3.900%, 02/01/35		382,000		369,366
4.100%, 04/15/43		100,000		95,273
Norfolk Southern Corp.
3.850%, 01/15/24		679,000		695,382
3.942%, 11/01/47 (144A)		219,000		210,811
Ryder System, Inc.
2.450%, 09/03/19		555,000		550,929
Union Pacific Corp.
3.600%, 09/15/37		163,000		156,943
3.750%, 03/15/24		650,000		663,934
4.100%, 09/15/67		200,000		191,308
				8,750,532
Trucking & Leasing—0.1%
Aviation Capital Group LLC
3.500%, 11/01/27 (144A)		300,000		281,481
Penske Truck Leasing Co. L.P. / PTL Finance Corp.
2.500%, 06/15/19 (144A)		175,000		174,122
2.700%, 03/14/23 (144A)		948,000		910,100
2.875%, 07/17/18 (144A)		80,000		80,031
3.375%, 02/01/22 (144A)		848,000		843,374
				2,289,108
Water—0.1%
American Water Capital Corp.
3.400%, 03/01/25		319,000		319,576
3.850%, 03/01/24		1,130,000		1,162,441
				1,482,017
Total Corporate Bonds & Notes (Cost $698,685,263)				682,298,009
Asset-Backed Securities—10.5%
Security Description	Principal Amount*		Value
Asset-Backed - Automobile—3.9%
American Credit Acceptance Receivables Trust
1.500%, 06/12/20 (144A)		27,387		27,377
1.700%, 11/12/20 (144A)		70,668		70,626
1.720%, 06/15/20 (144A)		135,391		135,366
2.910%, 02/13/23 (144A)		977,000		975,210
4.260%, 08/12/22 (144A)		867,000		874,459
AmeriCredit Automobile Receivables Trust
1.600%, 11/09/20		253,655		252,676
1.830%, 12/08/21		750,000		735,449
2.300%, 02/18/22		785,000		773,919
2.690%, 06/19/23		409,000		403,384
2.710%, 08/18/22		421,000		415,819
3.130%, 01/18/23		945,000		937,912
Capital Auto Receivables Asset Trust
2.790%, 01/20/22 (144A)		5,075,000		5,076,300
Carfinance Capital Auto Trust
1.440%, 11/16/20 (144A)		34,604		34,587
1.750%, 06/15/21 (144A)		112,849		112,579
2.720%, 04/15/20 (144A)		6,829		6,829
Carnow Auto Receivables Trust
2.920%, 09/15/22 (144A)		1,227,529		1,222,145
3.490%, 02/15/21 (144A)		1,401,846		1,400,638
CPS Auto Receivables Trust
1.820%, 09/15/20 (144A)		197,834		197,193
2.860%, 06/15/23 (144A)		1,533,000		1,519,815
3.270%, 06/15/22 (144A)		1,050,000		1,051,566
3.770%, 08/17/20 (144A)		558,000		563,259
3.790%, 06/15/23 (144A)		564,000		562,665
4.000%, 02/16/21 (144A)		223,000		225,525
4.350%, 11/16/20 (144A)		450,000		456,635
Credit Acceptance Auto Loan Trust
2.560%, 10/15/25 (144A)		1,197,000		1,190,623
3.010%, 02/16/27 (144A)		1,586,000		1,575,889
3.020%, 04/15/26 (144A)		4,025,000		3,958,953
3.040%, 12/15/25 (144A)		524,000		522,093
3.350%, 06/15/26 (144A)		489,000		482,845
3.480%, 02/17/26 (144A)		440,000		437,470
Drive Auto Receivables Trust
2.300%, 05/17/21		9,854,000		9,810,193
2.510%, 01/15/21 (144A)		563,000		562,681
2.560%, 06/15/20 (144A)		79,298		79,305
2.750%, 09/15/23		3,399,000		3,379,934
2.840%, 04/15/22		2,135,000		2,133,218
2.980%, 01/18/22 (144A)		898,000		898,291
3.530%, 12/15/23 (144A)		4,820,000		4,820,280
3.840%, 03/15/23		2,425,000		2,447,860
4.120%, 07/15/22 (144A)		1,177,000		1,188,014
4.160%, 05/15/24 (144A)		1,195,000		1,214,556
4.180%, 03/15/24 (144A)		2,076,000		2,110,015
DT Auto Owner Trust
1.560%, 06/15/20 (144A)		52,951		52,904
2.020%, 08/17/20 (144A)		411,434		410,860
3.030%, 01/17/23 (144A)		1,823,000		1,819,800
3.470%, 12/15/23 (144A)		1,715,000		1,714,971
3.550%, 11/15/22 (144A)		1,089,000		1,085,328
3.580%, 05/15/23 (144A)		969,000		961,644

BHFTI-194

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Automobile—(Continued)
DT Auto Owner Trust
3.770%, 10/17/22 (144A)		1,068,400	$	1,060,082
3.810%, 12/15/23 (144A)		1,211,000		1,210,879
Exeter Automobile Receivables Trust
2.050%, 12/15/21 (144A)		969,669		964,329
2.210%, 07/15/20 (144A)		196,828		196,733
2.840%, 08/16/21 (144A)		785,000		784,738
3.260%, 12/16/19 (144A)		137,775		137,926
3.950%, 12/15/22 (144A)		580,000		584,268
First Investors Auto Owner Trust
1.530%, 11/16/20 (144A)		337,968		336,936
1.670%, 11/16/20 (144A)		9,983		9,979
Flagship Credit Auto Trust
1.630%, 06/15/20 (144A)		28,257		28,243
2.710%, 11/15/22 (144A)		1,195,000		1,181,597
2.840%, 11/16/20 (144A)		456,191		456,543
3.950%, 12/15/20 (144A)		440,000		443,497
GLS Auto Receivables Trust
2.730%, 10/15/20 (144A)		314,157		314,106
4.390%, 01/15/21 (144A)		540,000		545,035
Nissan Auto Receivables Owner Trust
1.110%, 05/15/19		19,101		19,098
2.120%, 04/18/22		2,934,000		2,900,733
OneMain Direct Auto Receivables Trust
2.040%, 01/15/21 (144A)		71,122		71,079
2.550%, 11/14/23 (144A)		2,400,000		2,357,396
2.820%, 07/15/24 (144A)		4,225,000		4,154,567
4.580%, 09/15/21 (144A)		533,000		534,086
Prestige Auto Receivables Trust
3.910%, 11/15/22 (144A)		1,979,000		1,975,437
Santander Retail Auto Lease Trust
2.930%, 05/20/21 (144A)		2,396,000		2,395,749
Sierra Auto Receivables Securitization Trust
2.850%, 01/18/22 (144A)		143,819		143,781
Tricolor Auto Securitization Trust
5.050%, 12/15/20 (144A) (h)		4,125,000		4,125,136
USASF Receivables LLC
5.750%, 09/15/30 (144A) (h)		1,911,291		1,893,172
Westlake Automobile Receivables Trust
1.570%, 06/17/19 (144A)		75,793		75,763
2.460%, 01/18/22 (144A)		1,036,000		1,031,349
2.700%, 10/17/22 (144A)		720,000		718,006
4.100%, 06/15/21 (144A)		500,000		505,953
World Omni Automobile Lease Securitization Trust
2.830%, 07/15/21		2,314,000		2,313,703
				94,359,559
Asset-Backed - Credit Card—0.2%
Continental Credit Card
4.290%, 01/15/24 (144A)		3,525,395		3,539,501
4.560%, 01/15/23 (144A)		618,484		618,059
				4,157,560
Asset-Backed - Home Equity—0.0%
Asset-Backed Securities Corp. Home Equity Loan Trust
2.622%, 1M LIBOR + 0.750%, 02/25/35 (a)		161,057		160,970
Asset-Backed - Other—6.4%
AJAX Mortgage Loan Trust
4.125%, 10/25/56 (144A)		1,359,468		1,351,838
American Homes 4 Rent Trust
3.467%, 04/17/52 (144A)		1,183,155		1,196,071
3.678%, 12/17/36 (144A)		94,163		96,442
4.201%, 12/17/36 (144A)		400,000		415,926
4.290%, 10/17/36 (144A)		300,000		313,254
4.596%, 12/17/36 (144A)		250,000		261,283
5.036%, 10/17/45 (144A)		1,900,000		2,029,261
5.639%, 04/17/52 (144A)		500,000		541,123
6.231%, 10/17/36 (144A)		650,000		724,057
6.418%, 12/17/36 (144A)		300,000		338,168
American Tower Trust I
3.070%, 03/15/48 (144A)		1,920,000		1,895,287
AXIS Equipment Finance Receivables LLC
2.210%, 11/20/21 (144A)		1,017,622		1,011,691
B2R Mortgage Trust
2.524%, 05/15/48 (144A)		730,244		721,410
BCC Funding XIII LLC
2.200%, 12/20/21 (144A)		940,407		935,314
Business Jet Securities LLC
4.335%, 02/15/33 (144A)		2,796,229		2,803,153
CAM Mortgage Trust
3.220%, 08/01/57 (144A)		710,302		706,530
Camillo
5.000%, 12/05/23 (144A) (h)		3,533,208		3,525,481
CLUB Credit Trust
2.390%, 04/17/23 (144A)		86,104		86,086
Colony American Finance, Ltd.
2.554%, 11/15/48 (144A)		989,303		967,625
Conix Mortgage Asset Trust
4.704%, 12/25/47 (144A) (a) (f) (g) (h)		1,078,519		115,725
Consumer Loan Underlying Bond Credit Trust
2.550%, 01/16/24 (144A)		2,738,683		2,733,272
COOF Securitization Trust, Ltd.
2.973%, 06/25/40 (144A) (a) (b)		1,653,722		148,999
Diamond Resorts Owner Trust
3.270%, 10/22/29 (144A)		1,895,036		1,856,643
DT Asset Trust
5.840%, 12/16/22 (144A) (h)		2,000,000		1,998,400
Engs Commercial Finance Trust
2.630%, 02/22/22 (144A)		590,483		584,292
FirstKey Lending Trust
2.553%, 03/09/47 (144A)		1,896,940		1,887,248
3.417%, 03/09/47 (144A)		1,442,000		1,436,967
GMAT Trust
6.967%, 11/25/43 (144A)		211,133		211,361
Gold Key Resorts LLC
3.220%, 03/17/31 (144A)		482,779		477,424
Goodgreen Trust
3.260%, 10/15/53 (144A)		3,008,107		2,918,339
3.740%, 10/15/52 (144A)		670,850		650,221
5.000%, 10/20/51 (144A) (h)		3,858,717		3,795,434
HERO Funding Trust
3.080%, 09/20/42 (144A)		916,870		910,537
3.950%, 09/20/48 (144A)		2,741,668		2,778,391
4.460%, 09/20/47 (144A)		2,308,818		2,392,994

BHFTI-195

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Hilton Grand Vacations Trust
2.660%, 12/26/28 (144A)		1,102,312	$	1,087,267
Kabbage Asset Securitization LLC
4.571%, 03/15/22 (144A)		6,515,000		6,632,931
KGS-Alpha SBA COOF Trust
0.631%, 05/25/39 (144A) (a) (b)		5,126,811		81,214
0.843%, 08/25/38 (144A) (a) (b)		5,278,307		126,869
1.629%, 03/25/39 (144A) (a) (b)		4,738,408		199,800
3.262%, 04/25/40 (144A) (a) (b)		1,386,989		112,762
LendingClub Issuance Trust
3.000%, 01/17/23 (144A)		184,397		184,203
3.750%, 06/15/22 (144A)		80,740		80,802
Lendmark Funding Trust
2.830%, 12/22/25 (144A)		1,512,000		1,504,010
LV Tower 52 Issuer LLC
5.750%, 02/15/23 (144A) (h)		2,363,007		2,363,007
7.750%, 02/15/23 (144A) (h)		1,209,663		1,209,663
Mariner Finance Issuance Trust
3.620%, 02/20/29 (144A)		1,631,000		1,636,760
Marlette Funding Trust
2.610%, 03/15/28 (144A)		2,728,302		2,723,901
2.827%, 03/15/24 (144A)		1,461,603		1,461,908
3.060%, 01/17/23 (144A)		296,962		296,949
Nationstar HECM Loan Trust
2.942%, 05/25/27 (144A)		305,000		302,835
New Residential Advance Receivables Trust
2.575%, 10/15/49 (144A)		1,720,000		1,702,322
New Residential Advance Receivables Trust Advance Receivables Backed Notes
3.020%, 10/15/49 (144A)		268,000		264,912
3.513%, 10/15/49 (144A)		625,000		618,198
NRZ Advance Receivables Trust Advance Receivables Backed
2.751%, 06/15/49 (144A)		882,000		871,056
Ocwen Master Advance Receivables Trust
2.499%, 09/15/48 (144A)		785,000		784,939
2.521%, 08/17/48 (144A)		3,612,000		3,610,871
3.064%, 08/17/48 (144A)		1,374,073		1,357,273
3.607%, 08/17/48 (144A)		980,777		979,120
4.246%, 08/17/48 (144A)		1,776,686		1,785,569
OnDeck Asset Securitization Trust II LLC
4.210%, 05/17/20 (144A)		632,000		632,320
7.630%, 05/17/20 (144A)		285,000		286,995
OneMain Financial Issuance Trust
3.020%, 09/18/24 (144A)		699,759		699,984
3.190%, 03/18/26 (144A)		2,308,967		2,313,964
3.660%, 02/20/29 (144A)		1,785,000		1,801,566
3.850%, 03/18/26 (144A)		450,000		451,045
6.000%, 02/20/29 (144A)		1,000,000		1,032,823
Oportun Funding II LLC
3.690%, 07/08/21 (144A)		3,332,000		3,328,060
Oportun Funding IV LLC
3.230%, 06/08/23 (144A)		1,187,000		1,171,582
4.850%, 11/08/21 (144A)		1,085,492		1,089,330
Oportun Funding LLC
3.280%, 11/08/21 (144A)		2,250,000		2,249,525
3.970%, 06/08/23 (144A) (a)		2,500,000		2,443,264
Asset-Backed - Other—(Continued)
Oportun Funding VII LLC
3.220%, 10/10/23 (144A)		988,000		976,452
Prosper Marketplace Issuance Trust
2.360%, 11/15/23 (144A)		2,216,684		2,207,557
2.410%, 09/15/23 (144A)		1,082,381		1,079,656
2.560%, 06/15/23 (144A)		677,338		677,550
Purchasing Power Funding LLC
3.340%, 08/15/22 (144A)		5,950,000		5,957,670
RBSHD Trust
7.685%, 10/25/47 (144A) (h)		718,456		714,589
Renew Financial
3.670%, 09/20/52 (144A)		902,088		875,151
Rice Park Financing Trust
4.625%, 10/31/41 (144A) (h)		3,764,551		3,764,551
SoFi Consumer Loan Program LLC
3.090%, 10/27/25 (144A)		676,353		676,683
SpringCastle America Funding LLC
3.050%, 04/25/29 (144A)		2,382,403		2,379,009
Springleaf Funding Trust
3.160%, 11/15/24 (144A)		2,034,828		2,036,657
3.620%, 11/15/24 (144A)		725,000		723,850
SPS Servicer Advance Receivables Trust
2.530%, 11/16/48 (144A)		2,525,000		2,519,478
Tricon American Homes Trust
2.589%, 11/17/33 (144A)		1,220,020		1,195,007
Upstart Securitization Trust
2.639%, 06/20/24 (144A)		815,845		813,848
Vericrest Opportunity Loan Trust LLC
3.125%, 06/25/47 (144A)		1,415,503		1,408,196
3.250%, 05/25/47 (144A)		738,767		735,311
3.250%, 06/25/47 (144A)		1,220,622		1,215,402
3.260%, 01/27/23 (i)		3,595,000		3,550,030
3.375%, 04/25/47 (144A)		1,275,722		1,273,050
3.375%, 10/25/47 (144A)		5,172,427		5,158,315
3.500%, 02/25/47 (144A)		474,840		473,761
3.500%, 03/25/47 (144A)		2,870,684		2,869,337
Verizon Owner Trust
1.420%, 01/20/21 (144A)		250,000		247,756
1.920%, 12/20/21 (144A)		3,648,000		3,595,292
2.060%, 04/20/22 (144A)		3,275,000		3,228,649
2.820%, 09/20/22 (144A)		6,251,000		6,245,859
VM DEBT LLC
6.500%, 10/02/24 (144A) (h)		2,795,000		2,795,000
				153,689,512
Asset-Backed - Student Loan—0.0%
Academic Loan Funding Trust
2.672%, 1M LIBOR + 0.800%, 12/26/44 (144A) (a)		972,561		967,799
Total Asset-Backed Securities (Cost $255,381,473)				253,335,400

BHFTI-196

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—3.1%

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—1.4%
ACRE TL
6.196%, 12/15/20		3,800,000	$	3,800,000
Banc of America Funding Trust
3.218%, 05/20/34 (a)		965,815		982,556
Bear Stearns ALT-A Trust
2.512%, 1M LIBOR + 0.640%, 07/25/34 (a)		1,336,056		1,331,900
Countrywide Alternative Loan Trust
2.552%, 1M LIBOR + 0.680%, 08/25/34 (a)		40,402		40,524
Global Mortgage Securitization, Ltd.
2.192%, 1M LIBOR + 0.320%, 11/25/32 (144A) (a)		471,197		447,068
HarborView Mortgage Loan Trust
3.651%, 05/19/34 (a)		1,024,506		1,046,293
Headlands Residential LLC
3.875%, 08/25/22 (144A)		3,600,000		3,637,868
Impac CMB Trust
2.612%, 1M LIBOR + 0.740%, 11/25/34 (a)		2,699,818		2,695,614
JPMorgan Mortgage Trust
3.718%, 08/25/34 (a)		174,687		176,711
MASTR Asset Securitization Trust
5.500%, 12/25/33		427,105		434,167
Merrill Lynch Mortgage Investors Trust
2.332%, 6M LIBOR + 0.680%, 01/25/29 (a)		742,786		741,715
2.332%, 1M LIBOR + 0.460%, 04/25/29 (a)		507,515		500,512
2.372%, 1M LIBOR + 0.500%, 05/25/29 (a)		1,270,657		1,243,224
2.492%, 1M LIBOR + 0.620%, 10/25/28 (a)		580,768		576,920
2.512%, 1M LIBOR + 0.640%, 10/25/28 (a)		1,068,098		1,057,076
Sequoia Mortgage Trust
2.422%, 1M LIBOR + 0.600%, 12/20/34 (a)		1,422,027		1,400,886
2.462%, 1M LIBOR + 0.640%, 01/20/34 (a)		762,853		750,456
2.482%, 1M LIBOR + 0.660%, 07/20/33 (a)		946,005		891,964
2.502%, 1M LIBOR + 0.680%, 10/20/34 (a)		1,495,091		1,461,607
2.582%, 1M LIBOR + 0.760%, 04/20/33 (a)		757,947		744,348
Structured Adjustable Rate Mortgage Loan Trust
3.540%, 06/25/34 (a)		501,828		505,316
Structured Asset Mortgage Investments Trust
2.708%, 1M LIBOR + 0.900%, 05/19/33 (a)		1,316,648		1,301,257
Structured Asset Mortgage Investments Trust II
2.508%, 1M LIBOR + 0.700%, 01/19/34 (a)		1,233,737		1,203,607
2.508%, 1M LIBOR + 0.700%, 03/19/34 (a)		1,393,766		1,376,335
Structured Asset Securities Corp. Mortgage Loan Trust
2.472%, 1M LIBOR + 0.600%, 10/25/27 (a)		311,717		307,752
Structured Asset Securities Corp. Mortgage Pass-Through Certificates
3.608%, 11/25/33 (a)		751,644		756,462
Thornburg Mortgage Securities Trust
2.512%, 1M LIBOR + 0.640%, 09/25/43 (a)		694,147		671,261
3.027%, 12/25/44 (a)		994,825		999,367
3.402%, 04/25/45 (a)		2,172,238		2,182,449
Wells Fargo Mortgage-Backed Securities Trust
3.524%, 03/25/35 (a)		1,244,841		1,279,419
				34,544,634
Commercial Mortgage-Backed Securities—1.7%
BAMLL Commercial Mortgage Securities Trust
4.214%, 08/15/46 (144A) (a)		1,200,000		1,128,569
Commercial Mortgage-Backed Securities—(Continued)
BAMLL Re-REMIC Trust
1.819%, 09/27/44 (144A) (a)		2,704,000		2,666,221
BB-UBS Trust
2.892%, 06/05/30 (144A)		240,000		234,393
3.430%, 11/05/36 (144A)		2,950,000		2,931,262
BXMT, Ltd.
3.736%, 06/15/35 (144A) (a)		2,200,000		2,199,996
4.486%, 06/15/35 (144A) (a)		1,860,000		1,859,994
Commercial Mortgage Pass-Through Certificates Mortgage Trust
0.221%, 07/10/45 (144A) (a) (b)		120,000,000		1,327,536
2.518%, 1M LIBOR + 0.800%, 08/13/27 (144A) (a)		990,000		990,006
2.568%, 1M LIBOR + 0.850%, 02/13/32 (144A) (a)		2,605,000		2,606,655
3.318%, 1M LIBOR + 1.600%, 02/13/32 (144A) (a)		1,000,000		1,000,955
Commercial Mortgage Trust
2.987%, 04/12/35 (144A) (a)		1,871,000		1,834,533
4.353%, 08/10/30 (144A)		3,000,000		3,152,048
Credit Suisse Mortgage Capital Certificates
4.373%, 09/15/37 (144A)		1,000,000		960,117
GS Mortgage Securities Corp. II
2.706%, 12/10/27 (144A)		249,928		249,092
GS Mortgage Securities Corp. Trust
3.551%, 04/10/34 (144A)		3,500,000		3,555,636
GS Mortgage Securities Trust
5.399%, 08/10/44 (144A) (a)		500,000		487,692
Ladder Capital Commercial Mortgage Trust
3.985%, 02/15/36 (144A)		768,000		782,466
Morgan Stanley Bank of America Merrill Lynch Trust
3.669%, 02/15/47		3,000,000		3,051,450
Morgan Stanley Re-REMIC Trust
0.250%, 07/27/49 (144A)		789,496		742,174
RBS Commercial Funding, Inc. Trust
3.260%, 03/11/31 (144A)		531,000		521,395
UBS-Barclays Commercial Mortgage Trust
3.244%, 04/10/46		2,228,000		2,239,382
VNDO Mortgage Trust
2.996%, 11/15/30 (144A)		1,400,000		1,385,623
3.808%, 12/13/29 (144A)		2,500,000		2,544,040
Wells Fargo Commercial Mortgage Trust
2.710%, 03/18/28 (144A) (a)		1,000,000		993,699
2.819%, 08/15/50		1,172,328		1,173,536
WF-RBS Commercial Mortgage Trust
4.272%, 03/15/45 (144A) (a)		300,000		282,434
				40,900,904
Total Mortgage-Backed Securities (Cost $75,076,086)				75,445,538
Foreign Government—0.9%
Electric—0.1%
Hydro-Quebec
8.050%, 07/07/24		1,100,000		1,383,775
9.400%, 02/01/21		845,000		990,150
				2,373,925

BHFTI-197

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Provincial—0.0%
Province of Quebec Canada
7.125%, 02/09/24		200,000	$	242,246
Sovereign—0.8%
Colombia Government International Bonds
4.000%, 02/26/24 (d)		923,000		930,384
5.000%, 06/15/45		749,000		759,299
5.625%, 02/26/44 (d)		200,000		218,000
7.375%, 09/18/37		200,000		256,000
Israel Government AID Bonds
Zero Coupon, 11/01/24		8,960,000		7,353,755
Zero Coupon, 08/15/25		2,500,000		1,988,497
Mexico Government International Bonds
3.600%, 01/30/25		537,000		530,019
3.750%, 01/11/28		5,037,000		4,870,779
4.125%, 01/21/26 (d)		189,000		191,646
4.350%, 01/15/47		228,000		208,365
4.600%, 01/23/46		222,000		210,833
4.600%, 02/10/48		200,000		189,800
5.550%, 01/21/45 (d)		737,000		793,970
5.750%, 10/12/10		500,000		508,750
Peruvian Government International Bond
5.625%, 11/18/50 (d)		73,000		87,782
Republic of South Africa Government Bond
5.875%, 09/16/25		384,000		408,941
				19,506,820
Total Foreign Government (Cost $23,060,870)				22,122,991
Short-Term Investment—0.2%
Repurchase Agreement—0.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $5,458,461; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $5,568,095.		5,458,097		5,458,097
Total Short-Term Investments (Cost $5,458,097)				5,458,097
Securities Lending Reinvestments (j)—5.0%
Certificates of Deposit—2.9%
Banco Del Estado De Chile New York
2.354%, 1M LIBOR + 0.500%, 09/21/18 (a)		3,000,000		2,999,805
Bank of Nova Scotia
2.482%, 3M LIBOR + 0.280%, 03/20/19 (a)		3,000,000		2,998,692
Barclays Capital, plc
1.956%, 1M LIBOR + 0.270%, 08/03/18 (a)		5,500,000		5,499,593
BNP Paribas New York
1.886%, 1M LIBOR + 0.200%, 05/04/18 (a)		1,000,000		1,000,024
Canadian Imperial Bank of Commerce
1.920%, 1M LIBOR + 0.170%, 04/13/18 (a)		3,250,000		3,249,896
Certificates of Deposit—(Continued)
Chiba Bank, Ltd., New York
1.740%, 04/11/18		4,000,000		3,999,692
Citigroup Global Markets, Ltd.
2.070%, 1M LIBOR + 0.330%, 09/12/18 (a)		2,000,000		1,999,650
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (a)		3,500,000		3,500,000
Credit Suisse AG New York
1.930%, 1M LIBOR + 0.190%, 05/11/18 (a)		500,000		499,944
1.976%, 1M LIBOR + 0.190%, 04/16/18 (a)		1,000,000		999,958
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (a)		2,000,000		2,000,000
Mitsubishi UFJ Trust and Banking Corp.
1.976%, 1M LIBOR + 0.190%, 04/16/18 (a)		2,000,000		1,999,878
Mizuho Bank, Ltd., New York
2.008%, 1M LIBOR + 0.200%, 04/18/18 (a)		2,000,000		1,999,972
2.077%, 1M LIBOR + 0.200%, 05/29/18 (a)		1,000,000		999,916
Natixis New York
1.896%, 1M LIBOR + 0.210%, 08/06/18 (a)		2,000,000		1,999,828
2.220%, 06/11/18		500,000		500,083
Norinchukin Bank New York
1.670%, 1M LIBOR + 0.300%, 09/04/18 (a)		1,000,000		999,394
2.061%, 1M LIBOR + 0.200%, 07/23/18 (a)		2,000,000		1,999,044
Oversea-Chinese Banking Corp., Ltd.
2.150%, 06/06/18		1,500,000		1,500,148
Royal Bank of Canada New York
1.990%, 1M LIBOR + 0.250%, 01/11/19 (a)		5,000,000		4,990,450
Societe Generale
1.950%, 1M LIBOR + 0.210%, 07/10/18 (a)		4,000,000		3,999,668
Standard Chartered plc
2.154%, 1M LIBOR + 0.300%, 08/22/18 (a)		1,000,000		999,904
2.250%, 08/21/18		1,500,000		1,499,370
State Street Bank and Trust Co.
1.831%, 1M LIBOR + 0.120%, 05/08/18 (a)		1,500,000		1,499,919
Sumitomo Mitsui Banking Corp., London
2.038%, 1M LIBOR + 0.230%, 05/17/18 (a)		3,000,000		2,997,750
Sumitomo Mitsui Banking Corp., New York
1.916%, 1M LIBOR + 0.230%, 09/05/18 (a)		2,000,000		1,999,190
1.920%, 1M LIBOR + 0.180%, 04/11/18 (a)		2,000,000		1,999,928
2.010%, 1M LIBOR + 0.270%, 09/10/18 (a)		1,500,000		1,499,552
Svenska Handelsbanken AB
2.027%, 1M LIBOR + 0.150%, 04/30/18 (a)		3,500,000		3,499,902
Wells Fargo Bank N.A.
1.835%, 3M LIBOR + 0.130%, 07/11/18 (a)		1,500,000		1,499,977
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (a)		2,000,000		1,999,822
				69,230,949
Commercial Paper—0.8%
Alpine, Ltd.
2.240%, 06/07/18		994,400		995,870
Canadian Imperial Bank of Commerce
2.208%, 1M LIBOR + 0.400%, 09/17/18 (a)		1,000,000		999,909
ING Funding LLC
1.930%, 1M LIBOR + 0.190%, 08/10/18 (a)		3,000,000		2,998,932
LMA S.A. & LMA Americas
2.150%, 06/04/18		3,977,544		3,984,160

BHFTI-198

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (i)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—(Continued)
Ridgefield Funding Co. LLC
2.018%, 1M LIBOR + 0.210%, 05/17/18 (a)		1,500,000	$	1,499,784
Toyota Motor Credit Corp.
1.967%, 1M LIBOR + 0.190%, 05/11/18 (a)		3,500,000		3,499,892
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (a)		4,000,000		3,999,424
				17,977,971
Repurchase Agreements—1.1%
Citigroup Global Markets, Inc.
Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $1,548,317; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $700,136; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $714,004.		700,000		700,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $400,078; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $408,001.		400,000		400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $400,080; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $408,003.		400,000		400,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $502,386; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $555,356.		500,000		500,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $3,003,105; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,332,136.		3,000,000		3,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $5,089,935; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $5,553,560.		5,000,000		5,000,000
ING Financial Markets LLC
Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $4,252,350; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $4,336,582.		4,251,543		4,251,543
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,594,620; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,704,958.		2,500,000		2,500,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $201,264; collateralized by various Common Stock with an aggregate market value of $222,452.		200,000		200,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $600,524; collateralized by various Common Stock with an aggregate market value of $667,356.		600,000		600,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $2,002,089; collateralized by various Common Stock with an aggregate market value of $2,224,520.		2,000,000		2,000,000
Pershing LLC
Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $1,000,198; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Societe Generale
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $3,003,792; collateralized by various Common Stock with an aggregate market value of $3,335,172.		3,000,000		3,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $2,001,719; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
				27,051,543
Time Deposits—0.2%
ABN AMRO Bank NV
1.680%, 04/02/18		2,000,000		2,000,000
Australia New Zealand Bank
1.670%, 04/02/18		2,000,000		2,000,000
Svenska Handelsbanken AB
1.640%, 04/02/18		1,000,000		1,000,000
				5,000,000
Total Securities Lending Reinvestments (Cost $119,282,386)				119,260,463
Total Investments—104.7% (Cost $2,557,851,855)				2,519,135,801
Other assets and liabilities (net)—(4.7)%				(113,533,169	)
Net Assets—100.0%			$	2,405,602,632

BHFTI-199

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(b)	Interest only security.
(c)	Principal only security.
(d)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $116,932,195 and the collateral received consisted of cash in the amount of $119,273,487. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(e)	Principal amount of security is adjusted for inflation.
(f)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent less than 0.05% of net assets.
(g)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(h)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $26,300,158, which is 1.1% of net assets. See details shown in the Restricted Securities table that follows.
(i)	Illiquid security. As of March 31, 2018, these securities represent 0.1% of net assets.
(j)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $390,146,011, which is 16.0% of net assets.
(ACES)—	Alternative Credit Enhancement Securities
(ARM)—	Adjustable-Rate Mortgage
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(CMT)—	Constant Maturity Treasury Index
(FEDEFF PRV)—	Effective Federal Funds Rate
(ICE)—	Intercontinental Exchange Index
(LIBOR)—	London Interbank Offered Rate
(REMIC)—	Real Estate Mortgage Investment Conduit

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Camillo, 5.000%, 12/05/23		11/17/2016	$	3,533,208	$	3,534,203	$	3,525,481
Conix Mortgage Asset Trust, 4.704%, 12/25/47		05/16/2013		1,078,519		1,078,519		115,725
DT Asset Trust, 5.840%, 12/16/22		12/21/17		2,000,000		2,000,000		1,998,400
Goodgreen Trust, 5.000%, 10/20/51		12/21/17		3,858,717		3,807,796		3,795,434
LV Tower 52 Issuer LLC, 5.750%, 02/15/23		08/03/2015-02/10/2017		2,363,007		2,360,351		2,363,007
LV Tower 52 Issuer LLC, 7.750%, 02/15/23		08/03/2015-02/10/2017		1,209,663		1,208,854		1,209,663
RBSHD Trust, 7.685%, 10/25/47		09/27/2013		718,456		718,456		714,589
Rice Park Financing Trust, 4.625%, 10/31/41		11/30/2016		3,764,551		3,752,721		3,764,551
Tricolor Auto Securitization Trust, 5.050%, 12/15/20		03/09/18		4,125,000		4,119,844		4,125,136
USASF Receivables LLC, 5.750%, 09/15/30		09/06/2017		1,911,291		1,906,512		1,893,172
VM DEBT LLC, 6.500%, 10/02/24		03/23/2017		2,795,000		2,788,012		2,795,000
							$	26,300,158

BHFTI-200

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,361,215,303	$	—	$	1,361,215,303
Corporate Bonds & Notes
Aerospace/Defense		—		7,948,000		132,624		8,080,624
Agriculture		—		1,650,034		—		1,650,034
Airlines		—		10,744,477		—		10,744,477
Auto Manufacturers		—		19,290,405		—		19,290,405
Banks		—		168,794,806		—		168,794,806
Beverages		—		13,283,138		—		13,283,138
Biotechnology		—		7,942,992		—		7,942,992
Building Materials		—		2,360,372		—		2,360,372
Chemicals		—		9,997,171		—		9,997,171
Commercial Services		—		6,457,508		—		6,457,508
Computers		—		15,001,467		—		15,001,467
Cosmetics/Personal Care		—		1,029,189		—		1,029,189
Distribution/Wholesale		—		201,030		—		201,030
Diversified Financial Services		—		33,805,649		—		33,805,649
Electric		—		50,122,219		—		50,122,219
Electronics		—		2,503,639		—		2,503,639
Engineering & Construction		—		743,989		—		743,989
Environmental Control		—		923,024		—		923,024
Food		—		11,309,025		—		11,309,025
Forest Products & Paper		—		1,217,322		—		1,217,322
Gas		—		6,883,012		—		6,883,012
Healthcare-Products		—		4,935,425		—		4,935,425
Healthcare-Services		—		7,720,768		—		7,720,768
Holding Companies-Diversified		—		1,147,504		—		1,147,504
Household Products/Wares		—		581,262		—		581,262
Housewares		—		577,305		—		577,305
Insurance		—		32,551,813		—		32,551,813
Internet		—		7,384,567		—		7,384,567
Iron/Steel		—		2,721,041		—		2,721,041
Machinery-Construction & Mining		—		2,862,601		—		2,862,601
Machinery-Diversified		—		1,642,589		—		1,642,589
Media		—		27,483,162		—		27,483,162
Mining		—		2,902,041		—		2,902,041
Miscellaneous Manufacturing		—		5,868,120		—		5,868,120
Multi-National		—		1,378,091		—		1,378,091
Oil & Gas		—		47,928,584		—		47,928,584
Oil & Gas Services		—		3,339,678		—		3,339,678
Packaging & Containers		—		299,305		—		299,305
Pharmaceuticals		—		24,885,221		—		24,885,221

BHFTI-201

Brighthouse Funds Trust I

JPMorgan Core Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Pipelines	$	—	$	28,703,896		$	—	$	28,703,896
Real Estate		—		1,868,230			—		1,868,230
Real Estate Investment Trusts		—		24,948,168			—		24,948,168
Retail		—		8,273,935			—		8,273,935
Savings & Loans		—		1,030,847			—		1,030,847
Semiconductors		—		5,067,248			—		5,067,248
Software		—		13,531,173			—		13,531,173
Telecommunications		—		37,802,686			—		37,802,686
Transportation		—		8,750,532			—		8,750,532
Trucking & Leasing		—		2,289,108			—		2,289,108
Water		—		1,482,017			—		1,482,017
Total Corporate Bonds & Notes		—		682,165,385			132,624		682,298,009
Asset-Backed Securities
Asset-Backed - Automobile		—		94,359,559			—		94,359,559
Asset-Backed - Credit Card		—		4,157,560			—		4,157,560
Asset-Backed - Home Equity		—		160,970			—		160,970
Asset-Backed - Other		—		153,573,787			115,725		153,689,512
Asset-Backed - Student Loan		—		967,799			—		967,799
Total Asset-Backed Securities		—		253,219,675			115,725		253,335,400
Total Mortgage-Backed Securities*		—		75,445,538			—		75,445,538
Total Foreign Government*		—		22,122,991			—		22,122,991
Total Short-Term Investment*		—		5,458,097			—		5,458,097
Total Securities Lending Reinvestments*		—		119,260,463			—		119,260,463
Total Investments	$	—	$	2,518,887,452		$	248,349	$	2,519,135,801
Collateral for Securities Loaned (Liability)	$	—	$	(119,273,487	)	$	—	$	(119,273,487	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2018 is not presented.

BHFTI-202

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—34.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.3%
Airbus SE		16,938	$	1,959,789
Boeing Co. (The)		1,628		533,789
General Dynamics Corp.		6,842		1,511,398
Harris Corp.		1,084		174,827
Northrop Grumman Corp.		4,035		1,408,699
United Technologies Corp.		10,587		1,332,056
				6,920,558
Air Freight & Logistics—0.2%
bpost S.A.		15,994		361,436
Deutsche Post AG		65,878		2,880,799
Yamato Holdings Co., Ltd.		42,000		1,055,910
				4,298,145
Airlines—0.4%
Air France-KLM (a)		30,382		337,543
Delta Air Lines, Inc.		20,216		1,108,039
Deutsche Lufthansa AG		32,434		1,036,061
International Consolidated Airlines Group S.A.		177,453		1,532,640
Japan Airlines Co., Ltd.		29,500		1,200,196
Qantas Airways, Ltd.		306,772		1,380,135
Ryanair Holdings plc (ADR) (a) (b)		11,438		1,405,158
United Continental Holdings, Inc. (a)		2,369		164,575
				8,164,347
Auto Components—0.6%
Aisin Seiki Co., Ltd.		14,200		777,482
Aptiv plc		4,790		407,006
Bridgestone Corp.		63,300		2,779,043
Cie Generale des Etablissements Michelin		11,731		1,734,005
Delphi Technologies plc		5,184		247,018
Faurecia		21,207		1,718,320
Koito Manufacturing Co., Ltd.		11,100		778,325
NGK Spark Plug Co., Ltd.		50,700		1,224,340
Sumitomo Electric Industries, Ltd.		62,000		953,154
Toyota Boshoku Corp.		16,400		340,709
TS Tech Co., Ltd.		11,100		441,021
Xinyi Glass Holdings, Ltd.		582,000		888,079
				12,288,502
Automobiles—0.9%
Astra International Tbk PT		2,119,100		1,128,828
Daimler AG		28,791		2,446,521
Ford Motor Co.		89,907		996,169
Honda Motor Co., Ltd.		56,100		1,947,934
Hyundai Motor Co.		10,720		1,449,437
Mahindra & Mahindra, Ltd. (GDR)		152,300		1,751,450
Renault S.A.		15,864		1,927,276
Toyota Motor Corp.		96,300		6,276,299
Yamaha Motor Co., Ltd.		31,200		933,714
				18,857,628
Banks—4.0%
ABN AMRO Group NV		57,897		1,745,578
Australia & New Zealand Banking Group, Ltd.		94,617		1,963,024
Banks—(Continued)
Banco Santander Chile (ADR)		30,340		1,016,693
Banco Santander S.A.		167,334		1,091,363
Bank Central Asia Tbk PT		686,600		1,165,720
Bank of America Corp.		147,191		4,414,258
Bank Rakyat Indonesia Persero Tbk PT		6,453,500		1,693,848
Bankia S.A.		239,987		1,075,498
BB&T Corp.		14,190		738,448
BNP Paribas S.A.		44,531		3,301,770
BOC Hong Kong Holdings, Ltd.		527,000		2,584,317
Capitec Bank Holdings, Ltd.		11,210		825,736
Citigroup, Inc.		46,603		3,145,703
Commonwealth Bank of Australia		13,640		761,845
Credicorp, Ltd.		7,050		1,600,632
Danske Bank A/S		44,646		1,668,510
DBS Group Holdings, Ltd.		182,100		3,841,387
DNB ASA		42,310		825,513
Erste Group Bank AG		31,120		1,565,104
Fifth Third Bancorp		3,502		111,189
Grupo Financiero Banorte S.A.B. de C.V. - Class O		123,340		751,451
Hang Seng Bank, Ltd.		13,200		307,747
HDFC Bank, Ltd. (ADR)		65,106		6,430,520
HSBC Holdings plc		331,401		3,097,891
Huntington Bancshares, Inc.		13,989		211,234
ING Groep NV		252,479		4,264,302
Itau Unibanco Holding S.A. (ADR) (b)		169,280		2,640,768
Jyske Bank A/S		11,304		669,742
KBC Groep NV		22,415		1,953,823
KeyCorp		35,824		700,359
Lloyds Banking Group plc		3,328,180		3,024,316
Mitsubishi UFJ Financial Group, Inc.		588,900		3,908,620
National Australia Bank, Ltd.		9,717		213,804
Oversea-Chinese Banking Corp., Ltd.		226,200		2,228,114
Public Bank Bhd		154,600		964,109
Sberbank of Russia PJSC (a)		71,260		315,341
Sberbank of Russia PJSC (ADR)		163,220		3,044,053
Siam Commercial Bank PCL (The)		289,800		1,329,910
Standard Chartered plc		158,701		1,589,129
Sumitomo Mitsui Financial Group, Inc.		70,000		2,968,314
SunTrust Banks, Inc.		5,581		379,731
SVB Financial Group (a)		1,356		325,454
Svenska Handelsbanken AB - A Shares		108,420		1,360,287
Swedbank AB - A Shares		26,406		592,060
Sydbank A/S		16,306		601,297
UniCredit S.p.A. (a)		46,587		977,494
Wells Fargo & Co.		53,417		2,799,585
Westpac Banking Corp.		19,065		421,582
				83,207,173
Beverages—0.9%
Ambev S.A. (ADR)		265,640		1,931,203
Anheuser-Busch InBev S.A.		20,926		2,299,821
Asahi Group Holdings, Ltd.		14,600		785,498
Coca-Cola Co. (The)		12,107		525,807
Constellation Brands, Inc. - Class A		2,874		655,042
Diageo plc		18,121		613,035
Fomento Economico Mexicano S.A.B. de C.V. (ADR)		12,200		1,115,446

BHFTI-203

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Beverages—(Continued)
Heineken NV		9,955	$	1,071,379
Kirin Holdings Co., Ltd.		47,000		1,260,466
Molson Coors Brewing Co. - Class B		19,500		1,468,935
PepsiCo, Inc.		23,758		2,593,186
Pernod-Ricard S.A.		17,174		2,860,921
Royal Unibrew A/S		9,431		627,038
Tsingtao Brewery Co., Ltd. - Class H		158,000		832,991
				18,640,768
Biotechnology—0.4%
AbbVie, Inc.		9,662		914,508
Alexion Pharmaceuticals, Inc. (a)		2,333		260,036
Amgen, Inc.		3,185		542,979
Biogen, Inc. (a)		3,695		1,011,765
BioMarin Pharmaceutical, Inc. (a)		930		75,395
Celgene Corp. (a)		7,473		666,667
CSL, Ltd.		5,160		620,472
Gilead Sciences, Inc.		14,277		1,076,343
Shire plc		37,766		1,882,606
Vertex Pharmaceuticals, Inc. (a)		5,205		848,311
				7,899,082
Building Products—0.2%
Allegion plc		8,517		726,415
Asahi Glass Co., Ltd.		17,200		720,913
Daikin Industries, Ltd.		15,400		1,710,217
Masco Corp.		22,461		908,323
Nichias Corp.		17,000		218,506
Takasago Thermal Engineering Co., Ltd.		11,300		209,531
				4,493,905
Capital Markets—1.1%
3i Group plc		192,656		2,326,142
Ameriprise Financial, Inc.		1,082		160,071
Bank of New York Mellon Corp. (The)		17,631		908,526
BlackRock, Inc.		1,188		643,563
Charles Schwab Corp. (The)		22,371		1,168,214
CME Group, Inc.		681		110,145
Credit Suisse Group AG (a)		59,222		993,713
Deutsche Bank AG		24,655		343,770
Deutsche Boerse AG		9,238		1,258,452
Euronext NV		11,555		845,647
Intercontinental Exchange, Inc.		11,835		858,274
Julius Baer Group, Ltd. (a)		8,776		540,382
Jupiter Fund Management plc		37,819		250,530
Macquarie Group, Ltd.		41,717		3,328,303
Morgan Stanley		40,532		2,187,107
Natixis S.A.		88,395		725,565
Partners Group Holding AG		2,178		1,620,944
Schroders plc		14,852		666,030
State Street Corp.		17,360		1,731,313
UBS Group AG (a)		67,760		1,193,131
				21,859,822
Chemicals—0.9%
Air Liquide S.A.		19,506		2,391,815
Akzo Nobel NV		11,224		1,061,085
Arkema S.A.		6,001		783,625
BASF SE		7,029		714,363
Celanese Corp. - Series A		5,164		517,485
Chr Hansen Holding A/S		8,330		719,732
Covestro AG		19,037		1,873,841
Daicel Corp.		62,000		679,255
DowDuPont, Inc.		41,862		2,667,028
Eastman Chemical Co.		13,201		1,393,762
Kuraray Co., Ltd.		39,000		677,554
Linde AG (a)		2,231		469,665
Mitsubishi Chemical Holdings Corp.		71,800		697,286
Mitsui Chemicals, Inc.		29,000		923,062
Sika AG		210		1,646,021
Sumitomo Bakelite Co., Ltd.		33,000		291,278
Sumitomo Chemical Co., Ltd.		119,000		688,062
Toray Industries, Inc.		134,500		1,277,435
				19,472,354
Communications Equipment—0.1%
Cisco Systems, Inc.		13,847		593,898
Nokia Oyj		181,770		1,004,761
				1,598,659
Construction & Engineering—0.4%
ACS Actividades de Construccion y Servicios S.A.		17,707		690,848
CIMIC Group, Ltd.		19,411		669,678
Eiffage S.A.		11,917		1,357,536
Kajima Corp.		103,000		968,446
Monadelphous Group, Ltd.		17,471		206,153
Obayashi Corp.		84,600		931,554
Penta-Ocean Construction Co., Ltd.		80,500		594,159
Shimizu Corp.		81,400		726,731
Taisei Corp.		22,000		1,127,264
Vinci S.A.		16,620		1,636,423
				8,908,792
Construction Materials—0.2%
CSR, Ltd.		50,030		200,242
HeidelbergCement AG		4,333		425,727
Ibstock plc		63,629		252,092
LafargeHolcim, Ltd. (a)		4,078		222,564
LafargeHolcim, Ltd. (a)		25,350		1,388,427
Siam Cement PCL (The)		64,500		1,018,964
Taiheiyo Cement Corp.		15,200		548,613
Vulcan Materials Co.		1,091		124,559
				4,181,188
Consumer Finance—0.1%
American Express Co.		10,641		992,592
Capital One Financial Corp.		11,957		1,145,720
				2,138,312

BHFTI-204

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Containers & Packaging—0.0%
Crown Holdings, Inc. (a)		4,789	$	243,042
WestRock Co.		8,902		571,241
				814,283
Distributors—0.0%
Canon Marketing Japan, Inc.		7,500		203,063
Diversified Consumer Services—0.0%
H&R Block, Inc.		3,962		100,674
Diversified Financial Services—0.4%
Berkshire Hathaway, Inc. - Class B (a)		17,131		3,417,292
Eurazeo S.A.		5,767		531,041
EXOR NV		13,825		987,751
FirstRand, Ltd.		422,210		2,389,477
Mitsubishi UFJ Lease & Finance Co., Ltd.		56,600		337,371
ORIX Corp.		59,000		1,053,298
Voya Financial, Inc.		8,778		443,289
				9,159,519
Diversified Telecommunication Services—0.4%
AT&T, Inc.		14,237		507,549
Deutsche Telekom AG		75,681		1,234,599
Nippon Telegraph & Telephone Corp.		49,300		2,290,213
Sunrise Communications Group AG (a)		5,939		497,698
Telecom Italia S.p.A. (a)		810,099		771,467
Telefonica S.A.		80,641		799,236
Telenor ASA		78,702		1,790,034
Verizon Communications, Inc.		16,045		767,272
				8,658,068
Electric Utilities—0.6%
American Electric Power Co., Inc.		14,074		965,336
Enel S.p.A.		682,570		4,182,216
Exelon Corp.		15,246		594,746
Iberdrola S.A.		300,397		2,209,486
Kansai Electric Power Co., Inc. (The)		55,300		721,767
Kyushu Electric Power Co., Inc.		36,600		442,115
NextEra Energy, Inc.		13,049		2,131,293
PG&E Corp.		4,610		202,517
Xcel Energy, Inc.		28,510		1,296,635
				12,746,111
Electrical Equipment—0.5%
ABB, Ltd.		72,816		1,734,065
Eaton Corp. plc		17,944		1,433,905
Fuji Electric Co., Ltd.		110,000		758,336
Mabuchi Motor Co., Ltd.		30,400		1,507,998
Mitsubishi Electric Corp.		47,300		768,773
Nidec Corp.		2,600		398,829
Philips Lighting NV		37,277		1,402,394
Schneider Electric SE		26,528		2,333,425
				10,337,725
Electronic Equipment, Instruments & Components—0.3%
Azbil Corp.		4,900		230,766
Delta Electronics, Inc.		249,867		1,124,240
Hitachi, Ltd.		270,000		1,969,768
Jenoptik AG		11,976		423,649
Keyence Corp.		1,000		625,935
Largan Precision Co., Ltd.		6,000		694,216
TE Connectivity, Ltd.		1,971		196,903
Venture Corp., Ltd.		41,200		889,769
				6,155,246
Energy Equipment & Services—0.1%
Subsea 7 S.A.		45,862		586,092
TechnipFMC plc		13,571		395,265
				981,357
Equity Real Estate Investment Trusts—0.3%
American Tower Corp.		2,401		348,961
AvalonBay Communities, Inc.		5,435		893,840
Brixmor Property Group, Inc.		5,419		82,640
Dexus		123,522		888,212
Digital Realty Trust, Inc.		1,514		159,545
Equinix, Inc.		861		360,019
Equity Residential		12,469		768,340
Federal Realty Investment Trust		2,955		343,105
Goodman Group		186,669		1,213,196
HCP, Inc.		12,403		288,122
Prologis, Inc.		3,472		218,701
Public Storage		4,477		897,146
Vornado Realty Trust		9,119		613,709
				7,075,536
Food & Staples Retailing—0.8%
Bid Corp., Ltd.		75,189		1,638,009
CVS Health Corp.		9,673		601,757
Koninklijke Ahold Delhaize NV		84,427		2,001,874
Kroger Co. (The)		15,725		376,457
Magnit PJSC (GDR)		41,250		760,444
Metcash, Ltd.		173,942		420,406
President Chain Store Corp.		162,000		1,642,504
Raia Drogasil S.A.		32,320		732,265
Seven & i Holdings Co., Ltd.		39,600		1,699,034
Shoprite Holdings, Ltd.		66,080		1,411,386
Tesco plc		635,000		1,834,849
Wal-Mart de Mexico S.A.B. de C.V.		303,410		771,887
Walgreens Boots Alliance, Inc.		13,775		901,849
Wesfarmers, Ltd.		28,242		906,183
				15,698,904
Food Products—0.6%
Barry Callebaut AG		470		918,709
Kraft Heinz Co. (The)		6,043		376,418
Mondelez International, Inc. - Class A		46,777		1,952,004
Nestle S.A.		87,540		6,930,226
Prima Meat Packers, Ltd.		52,000		293,820
Salmar ASA		10,831		446,754

BHFTI-205

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Food Products—(Continued)
Tiger Brands, Ltd.		27,870	$	875,587
WH Group, Ltd.		795,000		854,542
				12,648,060
Gas Utilities—0.0%
Tokyo Gas Co., Ltd.		20,000		534,143
Health Care Equipment & Supplies—0.4%
Abbott Laboratories		23,842		1,428,613
Becton Dickinson & Co.		3,732		808,724
Boston Scientific Corp. (a)		42,513		1,161,455
Cooper Cos., Inc. (The)		493		112,803
Danaher Corp.		5,805		568,368
Intuitive Surgical, Inc. (a)		793		327,374
Koninklijke Philips NV		28,311		1,087,992
Medtronic plc		11,441		917,797
Olympus Corp.		20,500		785,783
Zimmer Biomet Holdings, Inc.		9,237		1,007,203
				8,206,112
Health Care Providers & Services—0.3%
AmerisourceBergen Corp.		4,934		425,360
Cigna Corp.		8,167		1,369,933
UnitedHealth Group, Inc.		16,987		3,635,218
				5,430,511
Hotels, Restaurants & Leisure—0.5%
Aristocrat Leisure, Ltd.		79,313		1,478,628
Hilton Worldwide Holdings, Inc.		10,001		787,679
InterContinental Hotels Group plc		16,494		989,040
J.D. Wetherspoon plc		9,777		156,455
Royal Caribbean Cruises, Ltd.		3,253		383,008
Sands China, Ltd.		273,200		1,483,476
Sodexo S.A.		10,978		1,107,593
Starbucks Corp.		5,657		327,484
Thomas Cook Group plc		187,861		311,811
TUI AG		77,292		1,659,340
Whitbread plc		8,050		418,997
Yum! Brands, Inc.		5,885		500,990
				9,604,501
Household Durables—0.7%
Barratt Developments plc		254,548		1,896,075
Bellway plc		10,499		449,761
Berkeley Group Holdings plc		16,087		856,208
Bovis Homes Group plc		22,867		365,906
Electrolux AB - Series B		46,815		1,473,155
Haseko Corp.		36,700		566,012
Lennar Corp. - Class A		12,055		710,522
Panasonic Corp.		115,100		1,644,130
Persimmon plc		50,793		1,805,814
Redrow plc		172,008		1,438,722
Sekisui Chemical Co., Ltd.		34,800		608,930
Sony Corp.		47,500		2,313,216
Taylor Wimpey plc		270,861		702,628
Household Durables—(Continued)
Toll Brothers, Inc.		3,417		147,785
				14,978,864
Household Products—0.1%
Colgate-Palmolive Co.		11,578		829,911
Procter & Gamble Co. (The)		12,738		1,009,868
Unilever Indonesia Tbk PT		160,000		576,525
				2,416,304
Independent Power and Renewable Electricity Producers—0.1%
Electric Power Development Co., Ltd.		12,700		326,948
ERG S.p.A.		9,403		224,946
Uniper SE		36,316		1,106,837
				1,658,731
Industrial Conglomerates—0.5%
Bidvest Group, Ltd. (The)		66,959		1,269,827
CK Hutchison Holdings, Ltd.		118,500		1,424,678
Honeywell International, Inc.		16,973		2,452,768
Jardine Matheson Holdings, Ltd.		29,800		1,838,173
KOC Holding A/S		111,570		460,772
Rheinmetall AG		8,658		1,230,909
Siemens AG		10,407		1,327,414
				10,004,541
Insurance—1.9%
AIA Group, Ltd.		767,200		6,549,489
Allianz SE		14,734		3,329,801
American International Group, Inc.		31,798		1,730,447
Arthur J. Gallagher & Co.		4,361		299,732
ASR Nederland NV		35,505		1,520,028
Assicurazioni Generali S.p.A.		67,952		1,310,078
Aviva plc		160,696		1,119,849
AXA S.A.		73,186		1,948,353
Baloise Holding AG		8,743		1,338,085
Chubb, Ltd.		1,872		256,034
Everest Re Group, Ltd.		942		241,925
Hartford Financial Services Group, Inc. (The)		19,735		1,016,747
HDFC Standard Life Insurance Co., Ltd.		183,650		1,288,731
Legal & General Group plc		499,354		1,808,869
Lincoln National Corp.		8,061		588,937
Ping An Insurance Group Co. of China, Ltd. - Class H		410,000		4,218,728
Prudential Financial, Inc.		9,111		943,444
Prudential plc		120,599		3,014,653
Sampo Oyj - A Shares		15,146		844,756
Sanlam, Ltd.		138,230		997,617
Sompo Holdings, Inc.		21,800		880,984
Swiss Re AG		13,088		1,332,667
T&D Holdings, Inc.		73,600		1,175,347
Tokio Marine Holdings, Inc.		26,800		1,220,640
Topdanmark A/S (a)		7,467		353,633
Zurich Insurance Group AG (a)		1,857		609,346
				39,938,920

BHFTI-206

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Internet & Direct Marketing Retail—0.4%
Amazon.com, Inc. (a)		4,134	$	5,983,304
Booking Holdings, Inc. (a)		224		466,007
Expedia Group, Inc.		2,173		239,921
JD.com, Inc. (ADR) (a) (b)		40,030		1,620,815
Netflix, Inc. (a)		1,435		423,827
				8,733,874
Internet Software & Services—1.3%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		27,044		4,963,656
Alphabet, Inc. - Class A (a)		3,832		3,974,320
Alphabet, Inc. - Class C (a)		3,711		3,828,973
Baidu, Inc. (ADR) (a)		9,740		2,173,871
carsales.com, Ltd.		38,856		405,925
Facebook, Inc. - Class A (a)		20,656		3,300,622
MercadoLibre, Inc.		3,100		1,104,809
Tencent Holdings, Ltd.		150,200		7,995,329
				27,747,505
IT Services—1.1%
Accenture plc - Class A		12,232		1,877,612
Alliance Data Systems Corp.		973		207,113
Amadeus IT Group S.A.		13,807		1,020,715
Atos SE		10,063		1,377,793
Capgemini SE		23,110		2,882,268
Cielo S.A.		139,107		871,776
Computershare, Ltd.		74,647		998,937
Fidelity National Information Services, Inc.		15,618		1,504,013
Infosys, Ltd. (ADR) (b)		137,220		2,449,377
International Business Machines Corp.		7,276		1,116,357
Nomura Research Institute, Ltd.		19,000		896,915
Otsuka Corp.		20,600		1,051,710
Sopra Steria Group		2,254		460,150
Tata Consultancy Services, Ltd.		58,080		2,546,387
Visa, Inc. - Class A		30,544		3,653,673
Worldpay, Inc. - Class A (a)		5,818		478,472
				23,393,268
Life Sciences Tools & Services—0.1%
Agilent Technologies, Inc.		3,169		212,006
Illumina, Inc. (a) (b)		1,441		340,681
Mettler-Toledo International, Inc. (a)		240		138,007
Thermo Fisher Scientific, Inc.		3,819		788,471
				1,479,165
Machinery—0.7%
Bucher Industries AG		918		383,543
Cargotec Oyj - B Shares (b)		13,215		704,810
Caterpillar, Inc.		1,631		240,377
Cummins, Inc.		3,396		550,458
Deere & Co.		4,276		664,148
DMG Mori Co., Ltd.		46,500		874,807
Georg Fischer AG		617		826,256
Ingersoll-Rand plc		19,771		1,690,618
Kurita Water Industries, Ltd.		11,000		355,280
PACCAR, Inc.		9,930		657,068
Parker-Hannifin Corp.		1,258		215,156
Machinery—(Continued)
Sandvik AB		100,860		1,850,871
Snap-on, Inc. (b)		5,289		780,339
Stanley Black & Decker, Inc.		10,569		1,619,171
Volvo AB - B Shares		63,169		1,153,289
Wartsila Oyj Abp		30,974		685,262
WEG S.A.		112,002		767,046
				14,018,499
Marine—0.0%
DFDS A/S		7,717		433,534
Media—0.6%
Charter Communications, Inc. - Class A (a)		5,676		1,766,485
Comcast Corp. - Class A		84,164		2,875,884
DISH Network Corp. - Class A (a)		12,687		480,710
I-CABLE Communications, Ltd. (a)		26,899		687
ITV plc		418,840		848,376
Nine Entertainment Co. Holdings, Ltd.		168,676		296,819
Sirius XM Holdings, Inc. (b)		37,720		235,373
Time Warner, Inc.		5,848		553,104
Twenty-First Century Fox, Inc. - Class A		40,076		1,470,388
Vivendi S.A.		28,509		737,885
Walt Disney Co. (The)		16,592		1,666,501
WPP plc		53,159		844,909
				11,777,121
Metals & Mining—0.8%
Alcoa Corp. (a)		6,486		291,611
ArcelorMittal (a)		83,828		2,658,869
Aurubis AG		11,516		969,469
BHP Billiton, Ltd.		100,524		2,223,625
BlueScope Steel, Ltd.		34,252		402,784
Fortescue Metals Group, Ltd.		119,426		399,731
Freeport-McMoRan, Inc. (a)		19,044		334,603
Newmont Mining Corp.		4,644		181,441
Nippon Light Metal Holdings Co., Ltd.		68,900		180,063
Northern Star Resources, Ltd.		78,862		383,146
Outokumpu Oyj (b)		123,226		841,881
Regis Resources, Ltd.		110,406		385,996
Rio Tinto plc		59,865		3,039,456
Rio Tinto, Ltd.		29,761		1,672,744
South32, Ltd.		678,501		1,691,244
St. Barbara, Ltd.		100,593		309,541
Vale S.A. (ADR) (b)		85,575		1,088,514
				17,054,718
Multi-Utilities—0.1%
Public Service Enterprise Group, Inc.		19,939		1,001,735
Multiline Retail—0.3%
Dollar General Corp.		4,695		439,217
Dollar Tree, Inc. (a)		12,534		1,189,477
Lojas Renner S.A.		136,130		1,416,367
Marui Group Co., Ltd. (b)		72,600		1,469,030
Next plc		14,075		940,694
				5,454,785

BHFTI-207

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—1.7%
Andeavor		1,300	$	130,728
BP plc		286,778		1,931,018
Chevron Corp.		19,243		2,194,472
CNOOC, Ltd.		394,000		581,434
Concho Resources, Inc. (a)		5,119		769,539
Diamondback Energy, Inc. (a)		8,261		1,045,182
EOG Resources, Inc.		17,773		1,870,964
EQT Corp.		9,174		435,857
Exxon Mobil Corp.		27,293		2,036,331
Galp Energia SGPS S.A.		33,149		625,268
Marathon Petroleum Corp.		11,177		817,150
Neste Oyj (b)		22,277		1,553,728
Occidental Petroleum Corp.		13,181		856,238
Oil Search, Ltd.		106,590		588,983
OMV AG		28,882		1,684,139
ONEOK, Inc.		8,068		459,231
Pioneer Natural Resources Co.		9,194		1,579,345
Repsol S.A.		68,449		1,216,109
Royal Dutch Shell plc - A Shares		63,786		2,001,588
Royal Dutch Shell plc - B Shares		181,994		5,864,744
Showa Shell Sekiyu KK		46,100		627,992
Total S.A.		51,886		2,948,870
Ultrapar Participacoes S.A.		66,190		1,421,858
Whitehaven Coal, Ltd.		281,710		974,445
				34,215,213
Paper & Forest Products—0.1%
OJI Holdings Corp.		99,000		637,806
UPM-Kymmene Oyj		57,570		2,136,349
				2,774,155
Personal Products—0.3%
Estee Lauder Cos., Inc. (The) - Class A		10,070		1,507,680
Kao Corp.		20,200		1,522,986
Oriflame Holding AG		5,606		268,986
Unilever NV		36,392		2,057,183
				5,356,835
Pharmaceuticals—1.8%
Allergan plc		5,896		992,238
AstraZeneca plc		8,572		589,595
Bayer AG		19,201		2,171,116
Bristol-Myers Squibb Co.		17,359		1,097,957
Eli Lilly & Co.		18,260		1,412,776
GlaxoSmithKline plc		126,567		2,458,939
Indivior plc (a)		73,482		420,580
Johnson & Johnson		19,777		2,534,423
Kyowa Hakko Kirin Co., Ltd.		24,200		523,472
Merck & Co., Inc.		23,907		1,302,214
Mylan NV (a)		7,874		324,173
Novartis AG		75,147		6,079,546
Novo Nordisk A/S - Class B		74,674		3,674,291
Otsuka Holdings Co., Ltd.		28,900		1,451,506
Pfizer, Inc.		78,379		2,781,671
Roche Holding AG		24,469		5,612,207
Sanofi		42,741		3,434,462
Pharmaceuticals—(Continued)
Teva Pharmaceutical Industries, Ltd. (ADR) (b)		22,692		387,806
UCB S.A.		2,764		225,469
				37,474,441
Professional Services—0.2%
Adecco Group AG		19,011		1,354,548
Meitec Corp.		5,100		280,095
Wolters Kluwer NV		28,671		1,526,924
				3,161,567
Real Estate Management & Development—0.2%
Aroundtown S.A.		56,145		435,291
CK Asset Holdings, Ltd.		189,500		1,603,570
Fabege AB		27,537		596,824
Hemfosa Fastigheter AB		16,473		200,005
Kerry Properties, Ltd.		50,000		227,009
Leopalace21 Corp.		44,600		364,894
Open House Co., Ltd.		10,200		629,213
Savills plc		23,447		323,192
				4,379,998
Road & Rail—0.4%
Central Japan Railway Co.		11,000		2,096,218
Norfolk Southern Corp.		11,193		1,519,786
Sankyu, Inc.		5,900		293,175
Tokyu Corp.		77,500		1,218,172
Union Pacific Corp.		20,515		2,757,831
West Japan Railway Co.		15,400		1,088,414
				8,973,596
Semiconductors & Semiconductor Equipment—1.2%
Analog Devices, Inc.		23,814		2,170,170
ASML Holding NV		7,665		1,516,497
BE Semiconductor Industries NV		10,265		1,052,307
Broadcom, Ltd.		6,236		1,469,513
Infineon Technologies AG		41,678		1,116,555
Intel Corp.		9,215		479,917
Microchip Technology, Inc. (b)		8,759		800,222
Micron Technology, Inc. (a)		5,863		305,697
NVIDIA Corp.		8,971		2,077,594
Renesas Electronics Corp. (a)		43,300		436,750
SCREEN Holdings Co., Ltd.		10,100		911,996
Siltronic AG (a)		8,283		1,417,899
STMicroelectronics NV		34,000		754,543
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		153,050		6,697,468
Texas Instruments, Inc.		22,334		2,320,279
Tokyo Electron, Ltd.		6,300		1,163,504
Tokyo Seimitsu Co., Ltd.		7,800		318,573
Ulvac, Inc.		13,800		786,159
				25,795,643
Software—0.8%
Activision Blizzard, Inc.		1,648		111,174
Adobe Systems, Inc. (a)		9,687		2,093,167
Intuit, Inc.		4,133		716,456

BHFTI-208

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Software—(Continued)
Microsoft Corp.		95,576	$	8,723,222
Nintendo Co., Ltd.		1,600		713,467
Oracle Corp.		28,708		1,313,391
SAP SE		24,666		2,581,199
Software AG		8,444		442,220
Workday, Inc. - Class A (a) (b)		5,050		641,905
				17,336,201
Specialty Retail—0.5%
AutoZone, Inc. (a)		1,453		942,547
Best Buy Co., Inc.		9,759		683,032
Dixons Carphone plc		153,319		401,864
Home Depot, Inc. (The)		14,289		2,546,871
Industria de Diseno Textil S.A.		40,103		1,256,913
K’s Holdings Corp.		44,600		617,967
Lowe’s Cos., Inc.		14,398		1,263,425
Mr. Price Group, Ltd.		27,840		671,134
O’Reilly Automotive, Inc. (a)		2,197		543,494
Ross Stores, Inc.		7,787		607,230
				9,534,477
Technology Hardware, Storage & Peripherals—0.8%
Apple, Inc.		47,483		7,966,698
Brother Industries, Ltd.		36,500		849,354
FUJIFILM Holdings Corp.		25,600		1,024,515
Hewlett Packard Enterprise Co.		58,912		1,033,317
HP, Inc.		40,585		889,623
Samsung Electronics Co., Ltd. (GDR)		4,620		5,294,520
				17,058,027
Textiles, Apparel & Luxury Goods—0.3%
adidas AG		4,916		1,190,562
Burberry Group plc		55,900		1,331,212
Cie Financiere Richemont S.A.		13,122		1,178,753
NIKE, Inc. - Class B		15,937		1,058,854
PVH Corp.		5,981		905,703
				5,665,084
Thrifts & Mortgage Finance—0.2%
Housing Development Finance Corp., Ltd.		180,280		5,057,762
Tobacco—0.5%
Altria Group, Inc.		1,758		109,559
British American Tobacco plc		59,215		3,437,499
ITC, Ltd.		442,927		1,745,388
Japan Tobacco, Inc.		38,400		1,098,823
Philip Morris International, Inc.		29,243		2,906,754
Swedish Match AB		35,260		1,602,966
				10,900,989
Trading Companies & Distributors—0.5%
Brenntag AG		20,627		1,227,540
Fastenal Co. (b)		9,233		504,029
Trading Companies & Distributors—(Continued)
Ferguson plc		22,029		1,657,009
ITOCHU Corp.		69,500		1,353,267
Marubeni Corp.		135,600		987,335
Mitsubishi Corp.		104,800		2,819,105
Sumitomo Corp.		64,700		1,083,489
United Rentals, Inc. (a)		613		105,883
				9,737,657
Transportation Infrastructure—0.1%
Aena SME S.A.		6,459		1,301,624
Wireless Telecommunication Services—0.3%
KDDI Corp.		50,900		1,307,177
MTN Group, Ltd.		67,040		679,211
NTT DoCoMo, Inc.		50,600		1,288,252
SoftBank Group Corp.		1,500		111,733
T-Mobile U.S., Inc. (a)		6,864		418,979
Vodafone Group plc		929,353		2,544,749
				6,350,101
Total Common Stocks (Cost $628,227,566)				716,447,982
Corporate Bonds & Notes—23.6%
Aerospace/Defense—0.5%
Airbus Finance B.V.
2.700%, 04/17/23 (144A)		279,000		272,811
Airbus SE
3.150%, 04/10/27 (144A)		245,000		239,092
3.950%, 04/10/47 (144A)		150,000		150,747
Arconic, Inc.
5.900%, 02/01/27		630,000		659,137
BAE Systems Finance, Inc.
7.500%, 07/01/27 (144A)		300,000		384,636
Boeing Co. (The)
7.250%, 06/15/25		11,000		13,518
8.625%, 11/15/31		200,000		295,469
Harris Corp.
3.832%, 04/27/25		610,000		613,581
4.854%, 04/27/35		100,000		106,741
Lockheed Martin Corp.
3.600%, 03/01/35		665,000		635,412
4.070%, 12/15/42		267,000		263,582
4.090%, 09/15/52		514,000		498,466
Northrop Grumman Corp.
2.550%, 10/15/22		370,000		358,567
3.250%, 08/01/23		400,000		397,321
3.250%, 01/15/28		1,440,000		1,374,528
Northrop Grumman Systems Corp.
7.750%, 02/15/31		200,000		272,077
Raytheon Co.
3.150%, 12/15/24		91,000		90,708

BHFTI-209

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Aerospace/Defense—(Continued)
Rockwell Collins, Inc.
2.800%, 03/15/22		1,115,000	$	1,086,953
3.200%, 03/15/24		105,000		102,059
4.350%, 04/15/47		50,000		49,282
United Technologies Corp.
3.750%, 11/01/46		895,000		807,069
5.400%, 05/01/35		525,000		598,833
5.700%, 04/15/40		250,000		299,181
6.700%, 08/01/28		233,000		285,917
8.875%, 11/15/19		41,000		44,925
				9,900,612
Agriculture—0.4%
Altria Group, Inc.
2.850%, 08/09/22		732,000		716,722
3.875%, 09/16/46		630,000		588,607
Archer-Daniels-Midland Co.
4.016%, 04/16/43		150,000		147,796
BAT Capital Corp.
3.222%, 08/15/24 (144A)		200,000		192,825
3.557%, 08/15/27 (144A)		1,455,000		1,393,652
4.390%, 08/15/37 (144A)		240,000		238,464
BAT International Finance plc
2.750%, 06/15/20 (144A)		255,000		252,822
Bunge, Ltd. Finance Corp.
3.250%, 08/15/26		185,000		173,931
3.500%, 11/24/20		26,000		26,089
Cargill, Inc.
4.760%, 11/23/45 (144A)		399,000		451,262
Imperial Brands Finance plc
3.750%, 07/21/22 (144A)		375,000		376,467
Philip Morris International, Inc.
2.125%, 05/10/23		1,230,000		1,156,184
2.375%, 08/17/22		1,790,000		1,724,349
Reynolds American, Inc.
4.450%, 06/12/25		737,000		758,131
				8,197,301
Airlines—0.3%
Air Canada Pass-Through Trust
3.300%, 01/15/30 (144A)		386,000		375,131
3.550%, 01/15/30 (144A)		82,000		80,856
3.600%, 03/15/27 (144A)		537,161		527,761
4.125%, 05/15/25 (144A)		323,689		326,473
American Airlines Pass-Through Trust
3.000%, 10/15/28		159,471		150,531
3.200%, 06/15/28		474,000		452,907
3.350%, 10/15/29		550,000		533,725
3.650%, 06/15/28		20,856		20,451
3.650%, 02/15/29		194,122		192,423
3.700%, 10/01/26		166,140		164,063
4.950%, 01/15/23		400,587		416,611
British Airways Pass-Through Trust
3.800%, 09/20/31 (144A)		231,000		233,273
4.125%, 09/20/31 (144A)		309,000		311,076
Airlines—(Continued)
Continental Airlines Pass-Through Trust
4.000%, 10/29/24		33,492		34,078
Delta Air Lines Pass-Through Trust
4.750%, 05/07/20		39,106		39,900
6.821%, 08/10/22		456,971		504,770
Spirit Airlines Pass-Through Trust
3.375%, 02/15/30		61,000		59,309
U.S. Airways Pass-Through Trust
3.950%, 11/15/25		193,172		192,747
United Airlines Pass-Through Trust
3.100%, 07/07/28		225,879		217,515
3.450%, 07/07/28 (b)		477,073		466,062
3.500%, 03/01/30		707,000		698,295
3.650%, 01/07/26		66,000		64,654
3.700%, 03/01/30		87,000		86,187
				6,148,798
Auto Manufacturers—0.6%
American Honda Finance Corp.
2.300%, 09/09/26		110,000		101,529
2.900%, 02/16/24		100,000		97,886
BMW U.S. Capital LLC
1.850%, 09/15/21 (144A)		600,000		575,308
Daimler Finance North America LLC
2.200%, 05/05/20 (144A)		380,000		372,926
2.250%, 09/03/19 (144A)		160,000		158,749
2.250%, 03/02/20 (144A)		430,000		423,251
2.375%, 08/01/18 (144A)		415,000		414,768
2.450%, 05/18/20 (144A)		630,000		621,063
3.300%, 05/19/25 (144A)		290,000		285,392
8.500%, 01/18/31		115,000		167,407
Ford Motor Co.
4.750%, 01/15/43		200,000		182,384
6.375%, 02/01/29		500,000		559,672
6.625%, 02/15/28		250,000		288,854
7.450%, 07/16/31		415,000		502,819
9.980%, 02/15/47		400,000		616,113
Ford Motor Credit Co. LLC
3.339%, 03/28/22		200,000		196,791
3.815%, 11/02/27 (b)		1,070,000		1,006,740
4.134%, 08/04/25		240,000		236,131
5.750%, 02/01/21		300,000		317,369
General Motors Co.
5.000%, 04/01/35		820,000		812,265
5.150%, 04/01/38		200,000		199,358
5.200%, 04/01/45		365,000		355,107
6.600%, 04/01/36		842,000		964,983
General Motors Financial Co., Inc.
3.100%, 01/15/19		304,000		304,327
3.450%, 01/14/22		400,000		398,579
3.500%, 11/07/24		80,000		77,234
3.700%, 05/09/23		102,000		101,257
3.850%, 01/05/28		330,000		313,904
4.000%, 01/15/25		55,000		54,223
4.000%, 10/06/26		287,000		278,524

BHFTI-210

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—(Continued)
General Motors Financial Co., Inc.
4.300%, 07/13/25		530,000	$	530,739
4.350%, 01/17/27		487,000		483,747
Nissan Motor Acceptance Corp.
2.600%, 09/28/22 (144A)		550,000		533,178
Toyota Motor Credit Corp.
2.625%, 01/10/23		400,000		391,123
4.250%, 01/11/21		150,000		155,190
				13,078,890
Banks—6.2%
ABN AMRO Bank NV
2.450%, 06/04/20 (144A)		280,000		275,609
4.750%, 07/28/25 (144A)		400,000		409,756
ANZ New Zealand International, Ltd.
2.600%, 09/23/19 (144A)		500,000		497,456
2.875%, 01/25/22 (144A)		500,000		492,135
Australia & New Zealand Banking Group, Ltd.
4.400%, 05/19/26 (144A)		275,000		276,174
6.750%, 5Y USD ICE Swap + 5.168%, 06/15/26 (144A) (c)		530,000		563,125
Bank of America Corp.
2.503%, 10/21/22 (b)		1,300,000		1,248,768
2.625%, 10/19/20		1,775,000		1,762,744
2.881%, 3M LIBOR + 1.021%, 04/24/23 (c)		1,780,000		1,742,944
3.004%, 3M LIBOR + 0.790%, 12/20/23 (144A) (c)		1,154,000		1,131,909
3.248%, 10/21/27		1,200,000		1,131,020
3.366%, 3M LIBOR + 0.810%, 01/23/26 (c)		300,000		291,839
3.419%, 12/20/28 (144A) (c)		1,340,000		1,283,582
3.705%, 3M LIBOR + 1.512%, 04/24/28 (c)		1,235,000		1,214,388
3.950%, 04/21/25		605,000		599,666
3.970%, 03/05/29 (c)		1,305,000		1,308,374
4.000%, 04/01/24 (b)		263,000		268,749
4.125%, 01/22/24		826,000		850,223
4.244%, 3M LIBOR + 1.814%, 04/24/38 (b) (c)		360,000		367,552
4.250%, 10/22/26		142,000		142,995
4.443%, 3M LIBOR + 1.990%, 01/20/48 (c)		145,000		151,373
4.450%, 03/03/26		167,000		170,597
5.875%, 03/15/28 (c)		665,000		669,195
6.250%, 3M LIBOR + 3.705%, 09/05/24 (c)		500,000		530,050
6.875%, 04/25/18		800,000		802,073
Bank of Montreal
2.350%, 09/11/22		963,000		926,288
2.375%, 01/25/19		100,000		99,862
3.803%, 12/15/32 (c)		620,000		587,369
Bank of New York Mellon Corp. (The)
2.200%, 08/16/23		225,000		211,525
2.500%, 04/15/21		231,000		226,499
2.661%, 3M LIBOR + 0.634%, 05/16/23 (c)		1,352,000		1,315,762
3.950%, 11/18/25		136,000		139,354
4.500%, 3M LIBOR + 2.460%, 06/20/23 (c)		335,000		322,856
4.600%, 01/15/20		200,000		206,041
Bank of Nova Scotia (The)
1.875%, 09/20/21 (144A)		750,000		717,365
2.450%, 03/22/21		355,000		349,206
2.450%, 09/19/22 (b)		710,000		688,080
2.500%, 01/08/21		400,000		394,013
Banks—(Continued)
Barclays Bank plc
2.650%, 01/11/21		1,760,000		1,734,818
Barclays plc
4.337%, 01/10/28 (b)		604,000		598,923
4.375%, 01/12/26		1,400,000		1,401,452
BB&T Corp.
2.450%, 01/15/20		139,000		137,843
3.950%, 03/22/22		175,000		179,387
BNP Paribas S.A.
3.500%, 03/01/23 (144A)		200,000		198,414
BPCE S.A.
2.650%, 02/03/21 (b)		250,000		245,785
3.375%, 12/02/26		250,000		241,283
3.500%, 10/23/27 (144A) (b)		595,000		562,060
Branch Banking & Trust Co.
2.850%, 04/01/21 (b)		610,000		607,463
Canadian Imperial Bank of Commerce
2.700%, 02/02/21		1,515,000		1,499,340
Capital One Financial Corp.
3.050%, 03/09/22		545,000		534,466
3.750%, 07/28/26		315,000		299,687
4.200%, 10/29/25 (b)		100,000		99,086
Citigroup, Inc.
2.150%, 07/30/18		181,000		180,706
2.750%, 04/25/22		1,000,000		974,112
2.876%, 3M LIBOR + 0.950%, 07/24/23 (c)		1,100,000		1,070,361
3.142%, 01/24/23 (c)		2,658,000		2,625,917
3.200%, 10/21/26		181,000		172,060
3.520%, 10/27/28 (c)		1,445,000		1,394,942
4.125%, 07/25/28		574,000		567,245
4.400%, 06/10/25		925,000		941,545
4.450%, 09/29/27		265,000		268,137
4.750%, 05/18/46		295,000		299,762
5.500%, 09/13/25		101,000		109,354
6.625%, 01/15/28		2,400,000		2,836,578
Citizens Bank N.A.
3.700%, 03/29/23		1,545,000		1,551,265
Comerica, Inc.
3.800%, 07/22/26		172,000		169,059
Commonwealth Bank of Australia
2.500%, 09/18/22 (144A)		300,000		289,545
3.450%, 03/16/23 (144A) (b)		300,000		300,113
3.900%, 03/16/28 (144A) (b)		300,000		302,337
Cooperative Rabobank UA
3.750%, 07/21/26		590,000		569,424
4.375%, 08/04/25		477,000		481,793
4.625%, 12/01/23		500,000		521,156
Credit Agricole S.A.
2.750%, 06/10/20 (144A)		330,000		327,097
4.125%, 01/10/27 (144A)		326,000		325,245
4.375%, 03/17/25 (144A)		400,000		398,470
Credit Suisse AG
3.625%, 09/09/24		1,000,000		996,857
Credit Suisse Group AG
3.574%, 01/09/23 (144A)		2,039,000		2,026,929
3.869%, 3M LIBOR + 1.410%, 01/12/29 (144A) (c)		500,000		484,656
4.282%, 01/09/28 (144A)		1,590,000		1,593,736

BHFTI-211

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Danske Bank A/S
2.700%, 03/02/22 (144A) (b)		200,000	$	195,349
Deutsche Bank AG
3.300%, 11/16/22		300,000		291,617
3.950%, 02/27/23		645,000		643,168
4.250%, 10/14/21		500,000		507,851
Discover Bank
3.100%, 06/04/20		895,000		891,715
4.250%, 03/13/26		940,000		943,560
Fifth Third Bancorp
3.950%, 03/14/28		250,000		251,006
8.250%, 03/01/38		50,000		71,757
Fifth Third Bank
3.850%, 03/15/26		590,000		582,943
Goldman Sachs Group, Inc. (The)
2.350%, 11/15/21		1,762,000		1,698,984
2.600%, 04/23/20		213,000		211,020
2.750%, 09/15/20		625,000		618,639
2.876%, 10/31/22 (c)		1,085,000		1,062,141
2.905%, 3M LIBOR + 0.990%, 07/24/23 (c)		2,715,000		2,640,411
2.908%, 3M LIBOR + 1.053%, 06/05/23 (c)		3,515,000		3,420,919
3.272%, 3M LIBOR + 1.201%, 09/29/25 (c)		403,000		387,948
3.691%, 3M LIBOR + 1.510%, 06/05/28 (b) (c)		349,000		338,346
3.750%, 05/22/25		362,000		358,334
3.814%, 3M LIBOR + 1.158%, 04/23/29 (c)		605,000		593,066
3.850%, 01/26/27		700,000		691,191
4.017%, 3M LIBOR + 1.373%, 10/31/38 (c)		125,000		120,660
4.250%, 10/21/25		27,000		27,139
5.150%, 05/22/45		700,000		753,388
5.375%, 03/15/20		510,000		531,777
HSBC Bank plc
4.125%, 08/12/20 (144A)		845,000		863,443
4.750%, 01/19/21 (144A)		500,000		519,322
HSBC Bank USA N.A.
5.875%, 11/01/34		1,500,000		1,853,324
HSBC Holdings plc
3.033%, 11/22/23 (b) (c)		650,000		634,534
3.262%, 3M LIBOR + 1.055%, 03/13/23 (c)		1,410,000		1,391,666
3.900%, 05/25/26 (b)		206,000		205,579
4.041%, 3M LIBOR + 1.546%, 03/13/28 (c)		1,010,000		1,009,313
4.250%, 03/14/24		740,000		743,901
6.375%, 5Y USD ICE Swap + 4.368%, 03/30/25 (b) (c)		355,000		365,206
6.500%, 03/23/28 (c)		355,000		362,100
Huntington Bancshares, Inc.
2.300%, 01/14/22		373,000		357,323
3.150%, 03/14/21		132,000		131,341
5.700%, 04/15/23 TBA (c)		500,000		502,500
Industrial & Commercial Bank of China, Ltd.
2.957%, 11/08/22		250,000		243,930
ING Bank NV
5.800%, 09/25/23 (144A)		360,000		389,118
Intesa Sanpaolo S.p.A.
3.875%, 07/14/27 (144A)		1,220,000		1,152,650
3.875%, 01/12/28 (144A)		200,000		188,635
KeyBank N.A.
2.350%, 03/08/19		500,000		498,116
3.400%, 05/20/26		455,000		439,720
Banks—(Continued)
KeyCorp
5.100%, 03/24/21		200,000		211,045
Lloyds Banking Group plc
3.574%, 11/07/28 (b) (c)		610,000		575,746
3.750%, 01/11/27		444,000		429,493
4.375%, 03/22/28		283,000		285,829
4.582%, 12/10/25		200,000		199,990
Macquarie Bank, Ltd.
2.600%, 06/24/19 (144A)		115,000		114,518
4.000%, 07/29/25 (144A)		400,000		404,285
Macquarie Group, Ltd.
3.189%, 11/28/23 (144A) (c)		875,000		842,800
3.763%, 11/28/28 (144A) (c)		553,000		521,931
4.654%, 03/27/29 (144A) (c)		830,000		837,394
6.000%, 01/14/20 (144A)		500,000		523,419
Mitsubishi UFJ Financial Group, Inc.
2.665%, 07/25/22		300,000		290,653
2.998%, 02/22/22		192,000		189,467
3.777%, 03/02/25		380,000		380,337
Mitsubishi UFJ Trust & Banking Corp.
2.450%, 10/16/19 (144A)		400,000		396,526
Mizuho Bank, Ltd.
2.450%, 04/16/19 (144A)		200,000		199,103
Morgan Stanley
2.750%, 05/19/22		300,000		292,566
2.925%, 3M LIBOR + 1.180%, 01/20/22 (c)		1,015,000		1,027,258
3.125%, 01/23/23 (b)		1,360,000		1,340,563
3.591%, 3M LIBOR + 1.340%, 07/22/28 (c)		1,730,000		1,673,360
3.625%, 01/20/27		300,000		293,644
3.750%, 02/25/23		333,000		336,527
3.772%, 01/24/29 (c)		2,055,000		2,023,193
3.875%, 04/29/24		300,000		302,612
3.875%, 01/27/26		360,000		359,687
3.971%, 3M LIBOR + 1.455%, 07/22/38 (c)		430,000		420,081
4.000%, 07/23/25		140,000		141,304
4.350%, 09/08/26		1,000,000		1,007,129
5.500%, 01/26/20		100,000		104,370
5.625%, 09/23/19		1,100,000		1,141,858
6.250%, 08/09/26		875,000		1,010,586
MUFG Americas Holdings Corp.
3.000%, 02/10/25		145,000		139,870
MUFG Union Bank N.A.
2.250%, 05/06/19		300,000		297,853
National Australia Bank, Ltd.
2.800%, 01/10/22		350,000		344,547
National City Bank of Indiana
4.250%, 07/01/18		250,000		250,985
Northern Trust Corp.
3.375%, 3M LIBOR + 1.131%, 05/08/32 (c)		105,000		100,859
PNC Bank N.A.
2.150%, 04/29/21		710,000		689,691
4.200%, 11/01/25		250,000		258,234
6.875%, 04/01/18		350,000		350,000
Royal Bank of Canada
4.650%, 01/27/26		375,000		386,692

BHFTI-212

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Royal Bank of Scotland Group plc
3.498%, 3M LIBOR + 1.480%, 05/15/23 (c)		410,000	$	402,891
Santander UK Group Holdings plc
3.373%, 3M LIBOR + 1.080%, 01/05/24 (c)		810,000		792,396
4.750%, 09/15/25 (144A) (b)		400,000		402,412
Santander UK plc
2.500%, 03/14/19		233,000		232,191
Skandinaviska Enskilda Banken AB
2.450%, 05/27/20 (144A)		535,000		527,657
Societe Generale S.A.
4.250%, 04/14/25 (144A)		350,000		344,937
Standard Chartered plc
5.200%, 01/26/24 (144A)		350,000		363,140
State Street Bank and Trust Co.
5.250%, 10/15/18		215,000		218,068
State Street Corp.
3.100%, 05/15/23		90,000		89,457
3.700%, 11/20/23 (b)		369,000		377,744
Sumitomo Mitsui Financial Group, Inc.
2.778%, 10/18/22		827,000		802,533
2.784%, 07/12/22 (b)		450,000		438,891
2.846%, 01/11/22 (b)		400,000		393,269
3.102%, 01/17/23		1,608,000		1,581,669
SunTrust Bank
3.000%, 02/02/23		170,000		166,959
SunTrust Banks, Inc.
2.500%, 05/01/19		113,000		112,659
2.750%, 05/01/23		300,000		290,995
3.300%, 05/15/26		380,000		362,371
5.125%, 12/15/27 (b) (c)		635,000		608,425
Swedbank AB
2.800%, 03/14/22 (144A)		500,000		493,068
Toronto-Dominion Bank (The)
2.125%, 07/02/19		348,000		345,626
2.125%, 04/07/21		485,000		472,448
2.500%, 12/14/20		275,000		271,544
3.625%, 5Y USD Swap + 2.205%, 09/15/31 (c)		100,000		95,839
U.S. Bancorp
3.150%, 04/27/27		250,000		240,345
UBS AG
2.450%, 12/01/20 (144A)		200,000		196,370
UBS Group Funding Switzerland AG
2.859%, 08/15/23 (144A) (c)		1,776,000		1,716,747
3.491%, 05/23/23 (144A)		285,000		281,570
Wachovia Corp.
6.605%, 10/01/25		222,000		254,040
Wells Fargo & Co.
3.000%, 04/22/26		300,000		281,655
3.069%, 01/24/23		3,350,000		3,294,310
3.450%, 02/13/23		900,000		887,514
4.100%, 06/03/26		189,000		187,834
4.300%, 07/22/27		49,000		49,261
4.400%, 06/14/46		345,000		334,851
4.480%, 01/16/24		55,000		56,668
4.650%, 11/04/44		2,015,000		2,032,425
4.750%, 12/07/46		265,000		271,551
4.900%, 11/17/45		424,000		444,494
Banks—(Continued)
Westpac Banking Corp.
1.600%, 08/19/19		427,000		420,229
2.500%, 06/28/22 (b)		450,000		437,468
2.750%, 01/11/23 (b)		555,000		540,653
3.400%, 01/25/28 (b)		300,000		291,948
4.322%, 5Y USD ICE Swap + 2.236%, 11/23/31 (c)		690,000		684,880
4.875%, 11/19/19		400,000		412,330
				128,369,911
Beverages—0.6%
Anheuser-Busch Cos. LLC
6.750%, 12/15/27		65,000		76,680
Anheuser-Busch InBev Finance, Inc.
2.650%, 02/01/21		200,000		198,434
3.300%, 02/01/23 (b)		373,000		373,274
3.650%, 02/01/26		1,010,000		1,003,989
4.700%, 02/01/36		2,580,000		2,729,808
4.900%, 02/01/46		1,102,000		1,188,519
Anheuser-Busch InBev Worldwide, Inc.
4.000%, 04/13/28		895,000		905,926
4.375%, 04/15/38		460,000		469,323
4.439%, 10/06/48		1,675,000		1,687,408
4.600%, 04/15/48		35,000		36,205
4.750%, 04/15/58		85,000		86,941
6.625%, 08/15/33		150,000		191,122
8.000%, 11/15/39		50,000		74,058
Brown-Forman Corp.
4.500%, 07/15/45		113,000		122,831
Coca-Cola Co. (The)
7.375%, 07/29/93		100,000		141,607
Coca-Cola Femsa S.A.B. de C.V.
3.875%, 11/26/23		200,000		204,479
Constellation Brands, Inc.
2.700%, 05/09/22		225,000		218,270
3.200%, 02/15/23		605,000		593,380
4.100%, 02/15/48		160,000		148,659
4.250%, 05/01/23		80,000		81,947
Diageo Capital plc
4.828%, 07/15/20		250,000		260,592
4.850%, 05/15/18		46,000		46,130
Diageo Investment Corp.
2.875%, 05/11/22		200,000		197,708
Dr Pepper Snapple Group, Inc.
2.000%, 01/15/20		92,000		90,078
2.550%, 09/15/26		163,000		145,670
3.430%, 06/15/27 (144A)		75,000		71,830
Heineken NV
4.000%, 10/01/42 (144A)		575,000		555,413
PepsiCo, Inc.
3.100%, 07/17/22		741,000		745,083
3.450%, 10/06/46		325,000		298,724
4.450%, 04/14/46		94,000		101,105
5.500%, 01/15/40		150,000		184,670
				13,229,863

BHFTI-213

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Biotechnology—0.3%
Amgen, Inc.
2.600%, 08/19/26		440,000	$	401,741
4.400%, 05/01/45		390,000		389,449
4.563%, 06/15/48 (b)		1,226,000		1,248,462
4.663%, 06/15/51		165,000		170,324
Baxalta, Inc.
3.600%, 06/23/22		329,000		327,988
Celgene Corp.
3.450%, 11/15/27		1,245,000		1,180,183
3.625%, 05/15/24		500,000		493,662
4.350%, 11/15/47		150,000		142,788
4.550%, 02/20/48		120,000		117,638
5.700%, 10/15/40		206,000		235,546
Gilead Sciences, Inc.
2.500%, 09/01/23		59,000		56,867
3.250%, 09/01/22		125,000		125,119
3.500%, 02/01/25		95,000		94,746
3.650%, 03/01/26		230,000		230,821
3.700%, 04/01/24		583,000		585,602
4.000%, 09/01/36		190,000		189,189
4.150%, 03/01/47		680,000		665,841
4.600%, 09/01/35		495,000		530,188
				7,186,154
Building Materials—0.1%
CRH America, Inc.
3.875%, 05/18/25 (144A)		334,000		336,007
Johnson Controls International plc
3.625%, 07/02/24 (d)		98,000		98,192
3.900%, 02/14/26		128,000		128,245
4.500%, 02/15/47		135,000		136,862
4.950%, 07/02/64 (d)		50,000		50,188
Martin Marietta Materials, Inc.
3.450%, 06/01/27		208,000		198,921
4.250%, 12/15/47		305,000		282,003
Masco Corp.
3.500%, 11/15/27		190,000		180,371
4.500%, 05/15/47		255,000		243,171
Owens Corning
4.300%, 07/15/47		440,000		401,949
Vulcan Materials Co.
4.500%, 06/15/47		180,000		170,399
				2,226,308
Chemicals—0.3%
Agrium, Inc.
3.375%, 03/15/25		390,000		378,609
5.250%, 01/15/45		435,000		474,012
Air Liquide Finance S.A.
1.750%, 09/27/21 (144A)		450,000		429,161
Albemarle Corp.
5.450%, 12/01/44		84,000		91,755
CF Industries, Inc.
4.500%, 12/01/26 (144A)		315,000		319,639
Chemicals—(Continued)
Dow Chemical Co. (The)
3.000%, 11/15/22		82,000		80,513
4.125%, 11/15/21		27,000		27,769
8.550%, 05/15/19		45,000		47,764
E.I. du Pont de Nemours & Co.
6.500%, 01/15/28		40,000		48,593
Mosaic Co. (The)
4.050%, 11/15/27		230,000		224,322
4.875%, 11/15/41		100,000		95,938
5.625%, 11/15/43		200,000		209,110
Mosaic Global Holdings, Inc.
7.300%, 01/15/28		23,000		27,124
7.375%, 08/01/18		800,000		808,864
Potash Corp. of Saskatchewan, Inc.
5.875%, 12/01/36		400,000		462,144
PPG Industries, Inc.
3.600%, 11/15/20		155,000		157,725
Praxair, Inc.
2.200%, 08/15/22		30,000		28,939
2.450%, 02/15/22		300,000		294,003
Sherwin-Williams Co. (The)
2.750%, 06/01/22		300,000		292,192
3.125%, 06/01/24		400,000		386,748
3.450%, 06/01/27		10,000		9,564
4.500%, 06/01/47 (b)		100,000		99,542
Union Carbide Corp.
7.500%, 06/01/25		701,000		838,238
7.750%, 10/01/96		100,000		132,916
7.875%, 04/01/23		30,000		35,576
Westlake Chemical Corp.
4.375%, 11/15/47		59,000		56,998
				6,057,758
Commercial Services—0.1%
California Institute of Technology
4.700%, 11/01/2111		165,000		178,664
Ecolab, Inc.
3.250%, 12/01/27 (144A)		151,000		145,590
ERAC USA Finance LLC
6.700%, 06/01/34 (144A)		500,000		617,171
President & Fellows of Harvard College
3.300%, 07/15/56		143,000		132,649
Trustees of the University of Pennsylvania (The)
4.674%, 09/01/2112		254,000		271,834
Western Union Co. (The)
3.600%, 03/15/22 (b)		300,000		299,792
				1,645,700
Computers—0.5%
Apple, Inc.
2.150%, 02/09/22		1,004,000		977,027
2.750%, 01/13/25		700,000		673,716
2.850%, 05/11/24		146,000		142,319
2.900%, 09/12/27		149,000		141,832
3.000%, 02/09/24 (b)		234,000		231,360

BHFTI-214

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Computers—(Continued)
Apple, Inc.
3.000%, 06/20/27 (b)		94,000	$	90,616
3.200%, 05/11/27		970,000		947,813
3.250%, 02/23/26		578,000		569,873
3.350%, 02/09/27		151,000		149,175
3.450%, 02/09/45		250,000		230,695
3.850%, 05/04/43		333,000		328,185
3.850%, 08/04/46		460,000		450,106
4.375%, 05/13/45		130,000		137,176
4.500%, 02/23/36		700,000		767,509
Dell International LLC / EMC Corp.
5.450%, 06/15/23 (144A)		335,000		355,108
6.020%, 06/15/26 (144A)		1,847,000		1,989,074
DXC Technology Co.
4.250%, 04/15/24		129,000		132,478
7.450%, 10/15/29		138,000		169,738
IBM Credit LLC
2.650%, 02/05/21 (b)		300,000		298,428
3.000%, 02/06/23 (b)		1,195,000		1,182,412
				9,964,640
Cosmetics/Personal Care—0.0%
Procter & Gamble Co. (The)
2.850%, 08/11/27 (b)		400,000		383,739
Unilever Capital Corp.
2.000%, 07/28/26		160,000		142,649
3.375%, 03/22/25 (b)		300,000		299,690
				826,078
Distribution/Wholesale—0.0%
WW Grainger, Inc.
4.600%, 06/15/45		157,000		166,114
Diversified Financial Services—0.7%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
3.300%, 01/23/23		390,000		379,268
3.500%, 01/15/25		1,200,000		1,157,021
3.950%, 02/01/22		945,000		947,410
Air Lease Corp.
2.625%, 07/01/22		128,000		123,596
3.250%, 03/01/25		90,000		85,863
3.625%, 12/01/27		130,000		123,269
American Express Co.
3.000%, 10/30/24		800,000		768,125
3.400%, 02/27/23		930,000		926,862
American Express Credit Corp.
3.300%, 05/03/27		90,000		87,213
Blackstone Holdings Finance Co. LLC
4.450%, 07/15/45 (144A)		66,000		66,996
5.875%, 03/15/21 (144A)		250,000		268,752
BOC Aviation, Ltd.
2.750%, 09/18/22 (144A)		220,000		210,426
Brookfield Finance, Inc.
3.900%, 01/25/28		63,000		61,143
4.700%, 09/20/47		115,000		111,552
Diversified Financial Services—(Continued)
Capital One Bank USA N.A.
3.375%, 02/15/23		1,415,000		1,378,918
Charles Schwab Corp. (The)
3.200%, 01/25/28		100,000		95,961
GE Capital International Funding Co.
4.418%, 11/15/35		3,572,000		3,491,811
GTP Acquisition Partners I LLC
3.482%, 06/16/25 (144A)		269,000		260,451
Intercontinental Exchange, Inc.
4.000%, 10/15/23		118,000		122,360
International Lease Finance Corp.
8.625%, 01/15/22		300,000		349,881
Invesco Finance plc
3.750%, 01/15/26		97,000		97,651
5.375%, 11/30/43		75,000		87,781
Jefferies Group LLC
5.125%, 04/13/18		75,000		75,042
6.875%, 04/15/21		375,000		408,810
Legg Mason, Inc.
5.625%, 01/15/44		80,000		86,863
National Rural Utilities Cooperative Finance Corp.
2.700%, 02/15/23		285,000		277,842
2.850%, 01/27/25		340,000		327,666
2.950%, 02/07/24		87,000		85,159
3.400%, 02/07/28		515,000		505,631
8.000%, 03/01/32		400,000		567,615
ORIX Corp.
2.900%, 07/18/22		151,000		147,654
Synchrony Financial
3.950%, 12/01/27		635,000		600,504
4.250%, 08/15/24		200,000		198,805
Visa, Inc.
2.800%, 12/14/22		265,000		261,622
4.150%, 12/14/35		300,000		319,475
				15,064,998
Electric—2.0%
Alabama Power Co.
5.700%, 02/15/33		150,000		180,946
Appalachian Power Co.
5.800%, 10/01/35		150,000		179,231
Arizona Public Service Co.
8.750%, 03/01/19		165,000		173,845
Atlantic City Electric Co.
7.750%, 11/15/18		135,000		139,369
Avangrid, Inc.
3.150%, 12/01/24		72,000		69,898
Baltimore Gas & Electric Co.
2.800%, 08/15/22		143,000		140,978
3.350%, 07/01/23		565,000		567,865
CenterPoint Energy Houston Electric LLC
3.950%, 03/01/48		250,000		252,134
5.600%, 07/01/23		381,000		416,030
6.950%, 03/15/33		100,000		133,707
China Southern Power Grid International Finance BVI Co., Ltd.
3.500%, 05/08/27 (144A)		240,000		231,253

BHFTI-215

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Cleveland Electric Illuminating Co. (The)
3.500%, 04/01/28 (144A)		145,000	$	138,613
5.500%, 08/15/24		187,000		207,596
CMS Energy Corp.
3.875%, 03/01/24		138,000		139,812
Commonwealth Edison Co.
2.950%, 08/15/27		585,000		560,673
4.000%, 03/01/48		130,000		130,665
5.875%, 02/01/33		150,000		179,096
6.450%, 01/15/38		175,000		231,076
Connecticut Light & Power Co. (The)
4.000%, 04/01/48		177,000		180,986
Consolidated Edison Co. of New York, Inc.
3.125%, 11/15/27		200,000		195,130
4.000%, 11/15/57		295,000		289,021
5.700%, 12/01/36		300,000		363,589
Consolidated Edison, Inc.
2.000%, 05/15/21		580,000		560,123
Consumers Energy Co.
3.950%, 05/15/43		200,000		202,378
Dominion Energy, Inc.
2.850%, 08/15/26 (b)		1,323,000		1,226,063
3.900%, 10/01/25		375,000		375,012
5.250%, 08/01/33		400,000		453,898
DTE Electric Co.
5.450%, 02/15/35		30,000		34,836
5.700%, 10/01/37		250,000		310,082
Duke Energy Carolinas LLC
6.000%, 12/01/28		200,000		241,017
6.000%, 01/15/38		60,000		76,344
Duke Energy Corp.
2.650%, 09/01/26		860,000		784,876
3.750%, 04/15/24		660,000		660,631
3.750%, 09/01/46		100,000		90,197
6.250%, 06/15/18		375,000		377,687
Duke Energy Indiana LLC
3.750%, 05/15/46		370,000		355,909
Duke Energy Progress LLC
6.125%, 09/15/33		500,000		639,353
Duquesne Light Holdings, Inc.
3.616%, 08/01/27 (144A)		240,000		230,644
Edison International
2.400%, 09/15/22		100,000		95,349
2.950%, 03/15/23		425,000		413,275
4.125%, 03/15/28		860,000		866,286
EDP Finance B.V.
3.625%, 07/15/24 (144A)		500,000		491,830
5.250%, 01/14/21 (144A)		425,000		445,137
Electricite de France S.A.
4.875%, 01/22/44 (144A)		165,000		176,862
Emera U.S. Finance L.P.
3.550%, 06/15/26		195,000		186,224
4.750%, 06/15/46		405,000		406,450
Enel Finance International NV
3.500%, 04/06/28 (144A)		685,000		638,481
3.625%, 05/25/27 (144A)		520,000		495,254
Electric—(Continued)
Entergy Arkansas, Inc.
3.050%, 06/01/23		311,000		305,246
Entergy Corp.
2.950%, 09/01/26		580,000		539,912
4.000%, 07/15/22		270,000		275,590
Entergy Louisiana LLC
4.000%, 03/15/33		225,000		229,444
Entergy Mississippi, Inc.
2.850%, 06/01/28		245,000		229,240
Eversource Energy
3.300%, 01/15/28		720,000		693,755
Exelon Corp.
2.450%, 04/15/21		60,000		58,641
3.497%, 06/01/22		530,000		524,909
4.450%, 04/15/46		115,000		117,307
Exelon Generation Co. LLC
3.400%, 03/15/22		195,000		195,161
FirstEnergy Corp.
3.900%, 07/15/27		270,000		265,159
4.850%, 07/15/47		125,000		131,480
Florida Power & Light Co.
3.950%, 03/01/48		495,000		503,813
4.950%, 06/01/35		300,000		341,521
5.625%, 04/01/34		110,000		132,873
Fortis, Inc.
3.055%, 10/04/26		437,000		404,989
Georgia Power Co.
5.400%, 06/01/40		120,000		142,353
Gulf Power Co.
3.300%, 05/30/27		520,000		506,447
Indiana Michigan Power Co.
3.200%, 03/15/23		250,000		247,192
ITC Holdings Corp.
3.250%, 06/30/26		190,000		182,422
3.350%, 11/15/27 (144A)		710,000		678,214
Jersey Central Power & Light Co.
4.300%, 01/15/26 (144A)		505,000		519,765
6.150%, 06/01/37		100,000		123,908
Kansas City Power & Light Co.
3.150%, 03/15/23		100,000		98,742
7.150%, 04/01/19		250,000		261,223
Korea Southern Power Co., Ltd.
3.000%, 01/29/21 (144A)		200,000		198,791
Louisville Gas & Electric Co.
5.125%, 11/15/40		125,000		145,822
Metropolitan Edison Co.
3.500%, 03/15/23 (144A)		220,000		220,571
4.000%, 04/15/25 (144A)		230,000		232,049
MidAmerican Energy Co.
3.700%, 09/15/23		300,000		304,403
Nevada Power Co.
5.375%, 09/15/40		96,000		115,893
6.500%, 08/01/18		425,000		430,551
6.650%, 04/01/36		150,000		200,566
New England Power Co.
3.800%, 12/05/47 (144A)		22,000		21,331

BHFTI-216

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
NextEra Energy Capital Holdings, Inc.
2.400%, 09/15/19		159,000	$	157,801
Niagara Mohawk Power Corp.
4.278%, 10/01/34 (144A)		264,000		275,006
Northern States Power Co.
2.150%, 08/15/22		500,000		480,041
Oncor Electric Delivery Co. LLC
2.950%, 04/01/25		30,000		28,941
Pacific Gas & Electric Co.
2.450%, 08/15/22		91,000		86,957
2.950%, 03/01/26		435,000		406,417
3.250%, 06/15/23		300,000		295,214
3.300%, 12/01/27 (144A)		465,000		440,046
3.500%, 06/15/25		560,000		546,462
4.250%, 03/15/46		205,000		198,330
5.800%, 03/01/37		255,000		293,249
6.050%, 03/01/34 (b)		250,000		297,987
PacifiCorp
5.500%, 01/15/19		65,000		66,394
5.900%, 08/15/34		15,000		18,205
6.100%, 08/01/36		116,000		151,802
6.250%, 10/15/37		260,000		341,183
7.700%, 11/15/31		40,000		55,988
Pennsylvania Electric Co.
3.250%, 03/15/28 (144A)		400,000		376,472
PPL Capital Funding, Inc.
3.100%, 05/15/26		825,000		779,822
3.500%, 12/01/22		775,000		777,395
4.000%, 09/15/47		317,000		305,749
PPL Electric Utilities Corp.
4.750%, 07/15/43		42,000		47,749
Progress Energy, Inc.
7.000%, 10/30/31		325,000		422,604
Public Service Co. of Colorado
3.950%, 03/15/43		200,000		200,831
5.125%, 06/01/19		150,000		154,090
5.800%, 08/01/18		130,000		131,436
Public Service Co. of New Hampshire
3.500%, 11/01/23		55,000		55,569
Public Service Co. of Oklahoma
5.150%, 12/01/19		50,000		51,711
6.625%, 11/15/37		100,000		130,208
Public Service Electric & Gas Co.
2.250%, 09/15/26		203,000		185,392
3.650%, 09/01/42		56,000		54,203
Rochester Gas & Electric Corp.
3.100%, 06/01/27 (144A)		383,000		368,044
San Diego Gas & Electric Co.
5.350%, 05/15/35		100,000		116,685
6.000%, 06/01/26		100,000		115,886
Sempra Energy
2.400%, 03/15/20		120,000		118,433
2.900%, 02/01/23		280,000		273,906
3.250%, 06/15/27		195,000		185,257
3.400%, 02/01/28		1,005,000		964,059
4.000%, 02/01/48		55,000		51,235
9.800%, 02/15/19		200,000		211,751
Electric—(Continued)
Sierra Pacific Power Co.
2.600%, 05/01/26		1,941,000		1,809,612
6.750%, 07/01/37		150,000		202,112
Southern California Edison Co.
3.500%, 10/01/23		239,000		241,581
3.650%, 03/01/28		495,000		496,089
4.125%, 03/01/48		420,000		429,080
4.650%, 10/01/43		200,000		218,823
Southern Power Co.
4.950%, 12/15/46		259,000		268,480
5.150%, 09/15/41		200,000		215,008
5.250%, 07/15/43		95,000		103,349
Southwestern Electric Power Co.
3.900%, 04/01/45		165,000		158,506
Southwestern Public Service Co.
3.700%, 08/15/47		470,000		451,566
Toledo Edison Co. (The)
6.150%, 05/15/37		250,000		310,957
7.250%, 05/01/20		15,000		16,089
Trans-Allegheny Interstate Line Co.
3.850%, 06/01/25 (144A)		300,000		301,874
Union Electric Co.
2.950%, 06/15/27		214,000		204,664
Virginia Electric & Power Co.
3.450%, 02/15/24		122,000		122,382
3.800%, 04/01/28		440,000		445,491
Xcel Energy, Inc.
3.350%, 12/01/26		370,000		359,025
				42,088,192
Electrical Components & Equipment—0.0%
Emerson Electric Co.
6.000%, 08/15/32		70,000		84,380
Electronics—0.0%
Arrow Electronics, Inc.
3.875%, 01/12/28		127,000		123,034
Corning, Inc.
4.375%, 11/15/57		235,000		216,404
Koninklijke Philips NV
3.750%, 03/15/22		100,000		102,435
6.875%, 03/11/38		100,000		134,903
				576,776
Engineering & Construction—0.0%
ABB Finance USA, Inc.
2.875%, 05/08/22		100,000		98,928
Environmental Control—0.0%
Republic Services, Inc.
5.500%, 09/15/19		600,000		621,597
Food—0.4%
Campbell Soup Co.
3.950%, 03/15/25		330,000		328,445
4.150%, 03/15/28		310,000		307,725

BHFTI-217

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Food—(Continued)
Conagra Brands, Inc.
6.625%, 08/15/39		70,000	$	80,841
7.125%, 10/01/26		19,000		22,593
Kellogg Co.
4.000%, 12/15/20		64,000		65,521
7.450%, 04/01/31		500,000		657,677
Kraft Heinz Foods Co.
3.000%, 06/01/26		490,000		452,289
3.950%, 07/15/25		523,000		520,702
4.375%, 06/01/46 (b)		705,000		646,475
5.200%, 07/15/45		84,000		85,371
6.125%, 08/23/18		590,000		598,166
6.875%, 01/26/39		300,000		370,358
Kroger Co. (The)
3.875%, 10/15/46		635,000		546,277
7.700%, 06/01/29		310,000		391,764
8.000%, 09/15/29		400,000		513,148
McCormick & Co., Inc.
3.150%, 08/15/24		505,000		490,058
3.400%, 08/15/27		132,000		126,332
Sysco Corp.
3.750%, 10/01/25		83,000		83,559
4.450%, 03/15/48		330,000		329,869
4.850%, 10/01/45		73,000		77,515
Tyson Foods, Inc.
2.650%, 08/15/19		96,000		95,456
3.950%, 08/15/24		200,000		201,236
4.550%, 06/02/47 (b)		95,000		95,270
4.875%, 08/15/34		250,000		264,869
				7,351,516
Forest Products & Paper—0.0%
International Paper Co.
3.000%, 02/15/27		380,000		351,444
3.800%, 01/15/26		565,000		559,691
				911,135
Gas—0.2%
Atmos Energy Corp.
8.500%, 03/15/19		350,000		368,465
Brooklyn Union Gas Co. (The)
4.273%, 03/15/48 (144A)		1,015,000		1,052,318
CenterPoint Energy Resources Corp.
3.550%, 04/01/23		265,000		265,815
Dominion Energy Gas Holdings LLC
2.800%, 11/15/20		433,000		428,822
4.600%, 12/15/44		142,000		148,774
4.800%, 11/01/43		765,000		819,187
KeySpan Gas East Corp.
2.742%, 08/15/26 (144A)		345,000		323,059
Nisource Finance Corp.
6.800%, 01/15/19		35,000		36,061
NiSource, Inc.
6.250%, 12/15/40		75,000		94,479
Gas—(Continued)
Southern Co. Gas Capital Corp.
3.250%, 06/15/26		425,000		407,586
5.875%, 03/15/41		147,000		176,952
6.000%, 10/01/34		250,000		293,461
				4,414,979
Healthcare-Products—0.4%
Abbott Laboratories
3.750%, 11/30/26		1,150,000		1,143,844
Becton Dickinson & Co.
2.894%, 06/06/22		135,000		130,985
4.685%, 12/15/44		300,000		301,993
Becton Dickinson and Co.
3.363%, 06/06/24		1,817,000		1,748,860
Covidien International Finance S.A.
2.950%, 06/15/23		365,000		358,446
Medtronic, Inc.
3.500%, 03/15/25		335,000		334,861
4.375%, 03/15/35		759,000		805,310
4.625%, 03/15/45		492,000		538,519
Stryker Corp.
3.650%, 03/07/28		120,000		120,497
4.100%, 04/01/43		55,000		53,782
Thermo Fisher Scientific, Inc.
2.950%, 09/19/26		802,000		748,686
3.150%, 01/15/23		228,000		224,322
3.200%, 08/15/27		220,000		208,236
4.150%, 02/01/24		286,000		293,797
Zimmer Biomet Holdings, Inc.
2.000%, 04/01/18		525,000		525,000
3.700%, 03/19/23		341,000		341,671
				7,878,809
Healthcare-Services—0.3%
Aetna, Inc.
3.875%, 08/15/47		170,000		152,519
Anthem, Inc.
2.300%, 07/15/18		420,000		419,639
3.125%, 05/15/22		100,000		98,673
3.300%, 01/15/23		35,000		34,617
3.650%, 12/01/27		810,000		783,109
4.101%, 03/01/28		1,075,000		1,074,221
Ascension Health
3.945%, 11/15/46		196,000		198,931
Howard Hughes Medical Institute
3.500%, 09/01/23		200,000		204,287
Laboratory Corp. of America Holdings
3.200%, 02/01/22		215,000		213,963
Magellan Health, Inc.
4.400%, 09/22/24		292,000		290,189
Mayo Clinic
4.128%, 11/15/52		78,000		81,245
Providence St. Joseph Health Obligated Group
2.746%, 10/01/26		120,000		113,286

BHFTI-218

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Healthcare-Services—(Continued)
Quest Diagnostics, Inc.
3.450%, 06/01/26		91,000	$	88,269
Roche Holdings, Inc.
2.250%, 09/30/19 (144A) (b)		300,000		298,460
UnitedHealth Group, Inc.
2.750%, 02/15/23		46,000		44,971
2.875%, 03/15/22		400,000		395,462
2.875%, 03/15/23		300,000		295,065
3.100%, 03/15/26		120,000		116,242
3.750%, 10/15/47		155,000		145,958
3.950%, 10/15/42		250,000		245,475
4.700%, 02/15/21		64,000		66,949
5.800%, 03/15/36		425,000		520,991
6.625%, 11/15/37		175,000		234,022
				6,116,543
Household Products/Wares—0.1%
Kimberly-Clark Corp.
5.300%, 03/01/41		225,000		267,679
Reckitt Benckiser Treasury Services plc
2.375%, 06/24/22 (144A)		1,150,000		1,104,045
				1,371,724
Housewares—0.0%
Newell Brands, Inc.
4.200%, 04/01/26 (b)		470,000		465,307
5.375%, 04/01/36		150,000		156,430
5.500%, 04/01/46		255,000		270,685
				892,422
Insurance—0.8%
AIA Group, Ltd.
3.900%, 04/06/28 (144A)		415,000		418,101
AIG SunAmerica Global Financing X
6.900%, 03/15/32 (144A)		785,000		1,032,065
American International Group, Inc.
3.875%, 01/15/35		1,290,000		1,203,142
4.200%, 04/01/28 (b)		165,000		167,218
4.700%, 07/10/35		150,000		154,960
5.750%, 04/01/48 (c)		410,000		415,330
Aon Corp.
5.000%, 09/30/20		200,000		208,825
Assurant, Inc.
4.200%, 09/27/23		305,000		306,656
Athene Global Funding
2.750%, 04/20/20 (144A)		352,000		349,056
4.000%, 01/25/22 (144A)		184,000		186,276
Athene Holding, Ltd.
4.125%, 01/12/28		85,000		81,567
Berkshire Hathaway, Inc.
3.125%, 03/15/26		530,000		516,579
Chubb INA Holdings, Inc.
2.300%, 11/03/20		60,000		59,093
2.700%, 03/13/23		200,000		194,881
Insurance—(Continued)
CNA Financial Corp.
7.250%, 11/15/23		153,000		177,714
Great-West Lifeco Finance Delaware L.P.
4.150%, 06/03/47 (144A)		300,000		302,073
Guardian Life Global Funding
2.500%, 05/08/22 (144A)		250,000		243,248
Guardian Life Insurance Co. of America (The)
4.850%, 01/24/77 (144A)		63,000		64,923
Hartford Financial Services Group, Inc. (The)
4.400%, 03/15/48 (b)		300,000		306,145
Jackson National Life Global Funding
3.250%, 01/30/24 (144A)		173,000		171,278
Liberty Mutual Group, Inc.
4.950%, 05/01/22 (144A)		220,000		232,300
Liberty Mutual Insurance Co.
8.500%, 05/15/25 (144A)		500,000		626,008
Lincoln National Corp.
3.800%, 03/01/28		320,000		317,249
6.250%, 02/15/20		375,000		396,449
Manulife Financial Corp.
4.061%, 5Y USD Swap + 1.647%, 02/24/32 (c)		505,000		493,110
4.150%, 03/04/26		750,000		760,946
Markel Corp.
3.625%, 03/30/23		100,000		100,160
Marsh & McLennan Cos., Inc.
2.750%, 01/30/22		120,000		118,057
Massachusetts Mutual Life Insurance Co.
8.875%, 06/01/39 (144A)		121,000		190,157
Nationwide Mutual Insurance Co.
7.875%, 04/01/33 (144A)		200,000		273,552
8.250%, 12/01/31 (144A)		135,000		185,159
9.375%, 08/15/39 (144A)		138,000		223,198
New York Life Global Funding
3.000%, 01/10/28 (144A) (b)		485,000		461,987
New York Life Insurance Co.
5.875%, 05/15/33 (144A)		400,000		497,705
OneBeacon U.S. Holdings, Inc.
4.600%, 11/09/22		300,000		304,230
Pacific Life Insurance Co.
4.300%, 10/24/67 (144A) (c)		50,000		47,712
Pricoa Global Funding I
2.200%, 05/16/19 (144A)		280,000		278,231
2.200%, 06/03/21 (144A)		423,000		412,734
2.550%, 11/24/20 (144A)		280,000		277,130
Principal Life Global Funding II
3.000%, 04/18/26 (144A)		234,000		223,419
Progressive Corp. (The)
4.200%, 03/15/48		265,000		271,203
5.375%, 3M LIBOR + 2.539%, 03/15/23 (c)		180,000		182,025
Prudential Financial, Inc.
3.905%, 12/07/47 (144A)		380,000		359,641
Prudential Insurance Co. of America (The)
8.300%, 07/01/25 (144A)		800,000		1,013,624
Swiss Re Treasury U.S. Corp.
4.250%, 12/06/42 (144A)		120,000		122,686

BHFTI-219

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Insurance—(Continued)
Teachers Insurance & Annuity Association of America
4.270%, 05/15/47 (144A)		200,000	$	200,031
4.900%, 09/15/44 (144A)		136,000		149,893
Travelers Cos., Inc. (The)
3.900%, 11/01/20		25,000		25,625
6.750%, 06/20/36		175,000		234,777
Travelers Property Casualty Corp.
6.375%, 03/15/33		100,000		125,573
				15,663,701
Internet—0.1%
Amazon.com, Inc.
3.150%, 08/22/27 (144A)		1,885,000		1,818,732
4.250%, 08/22/57 (144A)		300,000		299,216
4.800%, 12/05/34		189,000		209,371
Booking Holdings, Inc.
2.750%, 03/15/23		71,000		68,516
Tencent Holdings, Ltd.
3.595%, 01/19/28 (144A)		275,000		264,874
				2,660,709
Iron/Steel—0.1%
Nucor Corp.
4.000%, 08/01/23		290,000		300,173
5.850%, 06/01/18		550,000		553,014
Vale Overseas, Ltd.
6.250%, 08/10/26		802,000		898,240
6.875%, 11/21/36		200,000		235,240
				1,986,667
Machinery-Construction & Mining—0.1%
ABB Finance USA, Inc.
3.800%, 04/03/28		285,000		287,705
Caterpillar Financial Services Corp.
1.931%, 10/01/21		147,000		142,073
Caterpillar, Inc.
7.300%, 05/01/31		584,000		765,936
				1,195,714
Machinery-Diversified—0.1%
Deere & Co.
5.375%, 10/16/29		1,175,000		1,378,957
8.100%, 05/15/30		61,000		85,367
John Deere Capital Corp.
2.450%, 09/11/20		75,000		74,352
2.800%, 01/27/23		122,000		119,891
Roper Technologies, Inc.
3.000%, 12/15/20		83,000		82,711
3.800%, 12/15/26		100,000		99,588
				1,840,866
Media—0.9%
21st Century Fox America, Inc.
5.400%, 10/01/43		340,000		398,803
7.125%, 04/08/28		220,000		273,887
Media—(Continued)
21st Century Fox America, Inc.
7.250%, 05/18/18		265,000		266,542
7.280%, 06/30/28		400,000		502,586
7.300%, 04/30/28		218,000		275,150
7.625%, 11/30/28		100,000		129,522
CBS Corp.
3.375%, 02/15/28		1,180,000		1,097,014
3.700%, 08/15/24		265,000		263,349
4.000%, 01/15/26		167,000		164,758
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
3.750%, 02/15/28		2,690,000		2,471,937
4.908%, 07/23/25		472,000		482,340
6.384%, 10/23/35		179,000		199,952
Comcast Corp.
2.350%, 01/15/27		625,000		561,130
3.150%, 02/15/28		1,050,000		1,000,102
3.200%, 07/15/36		435,000		384,378
3.400%, 07/15/46		142,000		122,005
3.550%, 05/01/28		221,000		217,940
3.900%, 03/01/38		420,000		407,152
4.000%, 03/01/48		265,000		250,802
4.250%, 01/15/33		303,000		313,938
4.600%, 08/15/45		395,000		409,318
4.750%, 03/01/44		135,000		142,325
5.650%, 06/15/35		996,000		1,176,033
6.500%, 11/15/35		185,000		236,215
7.050%, 03/15/33		187,000		247,535
COX Communications, Inc.
3.150%, 08/15/24 (144A)		385,000		369,221
3.500%, 08/15/27 (144A)		235,000		224,195
Discovery Communications LLC
3.950%, 03/20/28		158,000		151,561
Grupo Televisa S.A.B.
6.125%, 01/31/46		200,000		218,911
8.500%, 03/11/32 (b)		100,000		128,667
Historic TW, Inc.
6.875%, 06/15/18		100,000		100,792
NBCUniversal Media LLC
5.950%, 04/01/41		300,000		367,601
Time Warner Cable LLC
5.000%, 02/01/20		585,000		600,839
5.500%, 09/01/41		460,000		457,024
Time Warner Entertainment Co. L.P.
8.375%, 07/15/33		715,000		930,470
Time Warner, Inc.
2.950%, 07/15/26		695,000		636,511
3.600%, 07/15/25		250,000		243,270
3.800%, 02/15/27		360,000		348,059
3.875%, 01/15/26		620,000		607,366
4.750%, 03/29/21		500,000		522,149
Viacom, Inc.
4.375%, 03/15/43		284,000		254,497
6.875%, 04/30/36		375,000		445,801
Walt Disney Co. (The)
1.850%, 07/30/26		136,000		121,145
3.000%, 02/13/26		300,000		293,304

BHFTI-220

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Media—(Continued)
Walt Disney Co. (The)
3.700%, 12/01/42		265,000	$	257,686
				19,273,782
Metal Fabricate/Hardware—0.0%
Precision Castparts Corp.
2.500%, 01/15/23		300,000		292,233
4.200%, 06/15/35		60,000		62,608
				354,841
Mining—0.1%
Anglo American Capital plc
3.750%, 04/10/22 (144A)		750,000		747,600
4.000%, 09/11/27 (144A)		300,000		287,701
BHP Billiton Finance USA, Ltd.
2.875%, 02/24/22		194,000		192,968
Glencore Funding LLC
4.000%, 03/27/27 (144A)		315,000		304,089
4.625%, 04/29/24 (144A)		200,000		204,660
Newcrest Finance Pty, Ltd.
5.750%, 11/15/41 (144A)		218,000		235,533
Rio Tinto Finance USA plc
2.875%, 08/21/22 (b)		5,000		5,003
Rio Tinto Finance USA, Ltd.
7.125%, 07/15/28		280,000		359,736
Vale Canada, Ltd.
7.200%, 09/15/32		200,000		225,000
				2,562,290
Miscellaneous Manufacturing—0.3%
Eaton Corp.
3.103%, 09/15/27		210,000		197,567
5.800%, 03/15/37		100,000		116,347
7.650%, 11/15/29		100,000		132,062
General Electric Co.
2.700%, 10/09/22		73,000		70,790
3.450%, 05/15/24		293,000		287,527
4.125%, 10/09/42		215,000		199,304
4.500%, 03/11/44 (b)		160,000		157,505
5.000%, 3M LIBOR + 3.330%, 01/21/21 (c)		1,320,000		1,306,800
Illinois Tool Works, Inc.
4.875%, 09/15/41		200,000		232,574
Ingersoll-Rand Co.
6.443%, 11/15/27		300,000		342,767
Ingersoll-Rand Global Holding Co., Ltd.
4.250%, 06/15/23		135,000		140,857
Parker-Hannifin Corp.
3.300%, 11/21/24		114,000		113,269
6.550%, 07/15/18		500,000		506,459
Siemens Financieringsmaatschappij NV
2.000%, 09/15/23 (144A)		390,000		364,797
2.350%, 10/15/26 (144A)		275,000		251,409
3.125%, 03/16/24 (144A)		500,000		493,726
Miscellaneous Manufacturing—(Continued)
Textron, Inc.
3.650%, 03/15/27		171,000		167,623
3.875%, 03/01/25		105,000		105,375
				5,186,758
Oil & Gas—1.2%
Anadarko Petroleum Corp.
3.450%, 07/15/24		300,000		291,252
5.550%, 03/15/26 (b)		340,000		371,160
Apache Corp.
6.000%, 01/15/37		150,000		169,807
BP Capital Markets plc
2.241%, 09/26/18		650,000		649,426
3.017%, 01/16/27		200,000		190,679
3.224%, 04/14/24		800,000		789,465
3.245%, 05/06/22		600,000		601,128
3.279%, 09/19/27 (b)		1,290,000		1,253,846
3.588%, 04/14/27		400,000		399,214
3.814%, 02/10/24		500,000		510,107
Canadian Natural Resources, Ltd.
3.800%, 04/15/24		111,000		110,476
7.200%, 01/15/32		200,000		251,596
Cenovus Energy, Inc.
3.800%, 09/15/23 (b)		500,000		494,215
4.250%, 04/15/27		720,000		701,816
5.250%, 06/15/37		144,000		144,911
5.700%, 10/15/19		325,000		336,147
6.750%, 11/15/39 (b)		101,000		116,358
Chevron Corp.
2.355%, 12/05/22		330,000		320,249
2.566%, 05/16/23		400,000		388,999
2.895%, 03/03/24		161,000		158,178
2.954%, 05/16/26		885,000		851,436
ConocoPhillips
5.900%, 10/15/32		550,000		656,653
ConocoPhillips Holding Co.
6.950%, 04/15/29		225,000		286,194
Encana Corp.
6.500%, 08/15/34		195,000		232,161
7.375%, 11/01/31		500,000		624,826
Eni USA, Inc.
7.300%, 11/15/27		200,000		248,156
EOG Resources, Inc.
5.100%, 01/15/36		431,000		476,924
EQT Corp.
3.900%, 10/01/27		50,000		47,833
Hess Corp.
6.000%, 01/15/40		200,000		211,157
Kerr-McGee Corp.
7.875%, 09/15/31		1,000,000		1,320,496
Marathon Oil Corp.
6.800%, 03/15/32		727,000		869,978
Marathon Petroleum Corp.
4.750%, 09/15/44		325,000		326,707

BHFTI-221

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Nabors Industries, Inc.
4.625%, 09/15/21 (b)		115,000	$	111,004
5.000%, 09/15/20 (b)		110,000		109,725
Noble Energy, Inc.
3.850%, 01/15/28 (b)		290,000		285,138
5.050%, 11/15/44 (b)		170,000		177,698
5.250%, 11/15/43 (b)		56,000		59,712
6.000%, 03/01/41		322,000		368,667
Noble Holding International, Ltd.
5.250%, 03/15/42		124,000		76,880
8.950%, 04/01/45		218,000		180,395
Occidental Petroleum Corp.
3.400%, 04/15/26		114,000		112,764
3.500%, 06/15/25		193,000		193,371
4.200%, 03/15/48		350,000		352,593
4.625%, 06/15/45		79,000		84,031
8.450%, 02/15/29		135,000		183,121
Petro-Canada
5.350%, 07/15/33		165,000		187,630
Petroleos Mexicanos
5.350%, 02/12/28 (144A)		141,000		139,082
6.350%, 02/12/48 (144A)		172,000		166,195
6.500%, 03/13/27		1,360,000		1,452,480
Phillips 66
3.900%, 03/15/28		665,000		662,590
4.650%, 11/15/34		229,000		240,323
4.875%, 11/15/44		550,000		586,472
Shell International Finance B.V.
2.250%, 11/10/20		111,000		109,450
2.375%, 08/21/22		440,000		427,045
2.500%, 09/12/26		220,000		205,121
2.875%, 05/10/26		164,000		158,054
3.400%, 08/12/23		350,000		353,652
3.625%, 08/21/42		25,000		23,680
3.750%, 09/12/46		388,000		374,131
4.000%, 05/10/46		345,000		345,290
Sinopec Capital 2013, Ltd.
3.125%, 04/24/23 (144A)		300,000		290,550
Sinopec Group Overseas Development 2013, Ltd.
4.375%, 10/17/23 (144A)		582,000		596,911
Statoil ASA
5.100%, 08/17/40		100,000		117,228
7.250%, 09/23/27		205,000		259,996
Suncor Energy, Inc.
5.950%, 12/01/34		100,000		121,107
7.150%, 02/01/32		100,000		129,534
Total Capital International S.A.
3.700%, 01/15/24		400,000		407,723
Valero Energy Corp.
7.500%, 04/15/32		25,000		32,742
				24,083,635
Oil & Gas Services—0.1%
Baker Hughes a GE Co. LLC
5.125%, 09/15/40		415,000		459,868
Oil & Gas Services—(Continued)
Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc.
3.337%, 12/15/27		425,000		406,406
Halliburton Co.
4.850%, 11/15/35		85,000		91,536
5.000%, 11/15/45		116,000		126,233
6.700%, 09/15/38		350,000		450,499
Schlumberger Holdings Corp.
2.350%, 12/21/18 (144A)		400,000		398,902
4.000%, 12/21/25 (144A)		1,110,000		1,128,732
				3,062,176
Packaging & Containers—0.0%
WestRock Co.
3.750%, 03/15/25 (144A)		300,000		299,305
Pharmaceuticals—1.0%
AbbVie, Inc.
2.000%, 11/06/18		649,000		646,498
2.300%, 05/14/21		105,000		102,354
3.200%, 05/14/26		825,000		784,097
4.300%, 05/14/36		63,000		63,009
4.500%, 05/14/35		1,305,000		1,336,584
4.700%, 05/14/45		200,000		206,244
Allergan Funding SCS
3.450%, 03/15/22		225,000		223,076
3.800%, 03/15/25 (b)		1,018,000		1,000,067
3.850%, 06/15/24		750,000		740,987
4.550%, 03/15/35		1,295,000		1,267,781
AstraZeneca plc
3.375%, 11/16/25		167,000		164,593
Cardinal Health, Inc.
2.400%, 11/15/19		128,000		126,706
3.200%, 03/15/23		155,000		152,649
3.750%, 09/15/25		169,000		167,434
CVS Health Corp.
2.875%, 06/01/26		650,000		598,950
3.700%, 03/09/23		360,000		361,955
4.100%, 03/25/25		902,000		908,359
4.300%, 03/25/28		1,291,000		1,296,500
4.780%, 03/25/38		710,000		719,607
5.050%, 03/25/48		75,000		78,884
CVS Pass-Through Trust
5.880%, 01/10/28		426,483		454,878
Express Scripts Holding Co.
3.400%, 03/01/27		180,000		169,115
3.500%, 06/15/24		249,000		243,135
6.125%, 11/15/41		61,000		72,417
GlaxoSmithKline Capital plc
2.850%, 05/08/22		500,000		496,532
GlaxoSmithKline Capital, Inc.
2.800%, 03/18/23		143,000		139,984
5.375%, 04/15/34		300,000		345,582
Johnson & Johnson
3.400%, 01/15/38		123,000		118,269
4.375%, 12/05/33		46,000		50,330
6.950%, 09/01/29		300,000		398,754

BHFTI-222

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
McKesson Corp.
3.796%, 03/15/24		600,000	$	598,020
Mead Johnson Nutrition Co.
3.000%, 11/15/20		89,000		88,655
4.900%, 11/01/19		135,000		139,080
5.900%, 11/01/39		300,000		363,955
Medco Health Solutions, Inc.
4.125%, 09/15/20		450,000		459,038
Merck & Co., Inc.
2.400%, 09/15/22		35,000		34,172
2.750%, 02/10/25		409,000		394,225
2.800%, 05/18/23		27,000		26,610
Mylan NV
3.150%, 06/15/21		335,000		330,327
5.250%, 06/15/46		14,000		14,278
Mylan, Inc.
4.550%, 04/15/28 (144A)		720,000		721,171
5.400%, 11/29/43		86,000		88,581
Novartis Capital Corp.
3.400%, 05/06/24		527,000		530,895
Pfizer, Inc.
2.750%, 06/03/26		300,000		285,094
Shire Acquisitions Investments Ireland DAC
2.875%, 09/23/23		643,000		613,860
3.200%, 09/23/26		880,000		820,555
Teva Pharmaceutical Finance Co. B.V.
3.650%, 11/10/21		254,000		239,067
Wyeth LLC
6.500%, 02/01/34		806,000		1,067,834
				20,250,747
Pipelines—1.0%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp.
4.250%, 12/01/27		43,000		41,920
APT Pipelines, Ltd.
4.250%, 07/15/27 (144A)		142,000		141,965
Boardwalk Pipelines L.P.
4.450%, 07/15/27		37,000		35,972
5.750%, 09/15/19		290,000		300,012
5.950%, 06/01/26		27,000		28,935
Buckeye Partners L.P.
3.950%, 12/01/26		140,000		132,174
5.600%, 10/15/44		310,000		308,950
5.850%, 11/15/43		255,000		260,932
Columbia Pipeline Group, Inc.
4.500%, 06/01/25		805,000		812,480
Enbridge, Inc.
2.900%, 07/15/22		350,000		339,554
3.700%, 07/15/27		145,000		138,994
6.250%, 03/01/78 (c)		775,000		767,729
Energy Transfer L.P.
2.500%, 06/15/18 (b)		576,000		576,104
4.750%, 01/15/26		128,000		129,421
6.050%, 06/01/41		446,000		452,395
7.500%, 07/01/38		200,000		241,672
Pipelines—(Continued)
Energy Transfer Partners L.P.
5.150%, 02/01/43		195,000		178,068
EnLink Midstream Partners L.P.
2.700%, 04/01/19		281,000		279,459
Enterprise Products Operating LLC
3.350%, 03/15/23		500,000		498,225
3.700%, 02/15/26		138,000		136,751
3.750%, 02/15/25		942,000		946,220
3.900%, 02/15/24		233,000		235,954
4.850%, 03/15/44		310,000		324,669
4.900%, 05/15/46		240,000		254,901
4.950%, 10/15/54		33,000		33,933
5.250%, 08/16/77 (b) (c)		165,000		160,463
6.125%, 10/15/39		400,000		479,441
6.875%, 03/01/33		162,000		203,987
Kinder Morgan Energy Partners L.P.
5.625%, 09/01/41		190,000		196,527
Kinder Morgan, Inc.
4.300%, 03/01/28		500,000		497,819
5.200%, 03/01/48		330,000		331,478
5.300%, 12/01/34		640,000		656,486
Magellan Midstream Partners L.P.
6.550%, 07/15/19		695,000		725,124
MPLX L.P.
4.000%, 02/15/25		95,000		94,411
4.000%, 03/15/28		155,000		152,755
4.125%, 03/01/27 (b)		315,000		312,103
4.500%, 04/15/38		244,000		240,908
4.700%, 04/15/48		130,000		126,633
4.875%, 12/01/24		460,000		482,341
5.200%, 03/01/47		141,000		147,343
ONEOK Partners L.P.
3.375%, 10/01/22		65,000		63,978
3.800%, 03/15/20		220,000		221,680
5.000%, 09/15/23		145,000		152,946
6.125%, 02/01/41		890,000		1,013,980
6.650%, 10/01/36		275,000		331,416
6.850%, 10/15/37		275,000		335,756
Phillips 66 Partners L.P.
4.900%, 10/01/46		308,000		309,190
Plains All American Pipeline L.P. / PAA Finance Corp.
3.850%, 10/15/23		350,000		341,332
5.750%, 01/15/20 (b)		610,000		634,300
6.650%, 01/15/37		200,000		222,339
Southern Natural Gas Co. LLC
4.800%, 03/15/47 (144A)		102,000		107,353
8.000%, 03/01/32		70,000		91,519
Spectra Energy Partners L.P.
2.950%, 09/25/18		140,000		140,139
Sunoco Logistics Partners Operations L.P.
4.250%, 04/01/24		91,000		90,485
4.950%, 01/15/43		295,000		267,448
5.350%, 05/15/45		1,040,000		968,873
5.400%, 10/01/47		260,000		247,693
TC PipeLines L.P.
3.900%, 05/25/27		106,000		101,394

BHFTI-223

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pipelines—(Continued)
Texas Eastern Transmission L.P.
2.800%, 10/15/22 (144A)		46,000	$	44,178
3.500%, 01/15/28 (144A)		45,000		42,966
TransCanada PipeLines, Ltd.
4.625%, 03/01/34		200,000		211,999
5.850%, 03/15/36		176,000		208,543
7.125%, 01/15/19		142,000		147,002
7.250%, 08/15/38		300,000		407,057
Valero Energy Partners L.P.
4.500%, 03/15/28		80,000		80,469
Western Gas Partners L.P.
3.950%, 06/01/25		157,000		153,033
4.650%, 07/01/26		150,000		151,857
5.300%, 03/01/48		34,000		33,673
5.375%, 06/01/21		149,000		155,452
5.450%, 04/01/44		102,000		103,061
Williams Partners L.P.
3.900%, 01/15/25		217,000		214,909
4.000%, 09/15/25		700,000		688,741
4.850%, 03/01/48		142,000		140,563
				20,830,532
Real Estate—0.2%
China Overseas Finance Investment Cayman V, Ltd.
Zero Coupon, 01/05/23		2,600,000		2,741,700
Ontario Teachers’ Cadillac Fairview Properties Trust
3.125%, 03/20/22 (144A)		580,000		576,718
3.875%, 03/20/27 (144A)		473,000		475,976
ProLogis L.P.
3.750%, 11/01/25		38,000		38,376
				3,832,770
Real Estate Investment Trusts—0.6%
American Tower Corp.
3.375%, 10/15/26		635,000		594,163
3.600%, 01/15/28		260,000		246,860
4.400%, 02/15/26		141,000		142,485
5.000%, 02/15/24		474,000		500,345
AvalonBay Communities, Inc.
2.900%, 10/15/26 (b)		124,000		116,242
4.350%, 04/15/48		100,000		101,616
Boston Properties L.P.
3.200%, 01/15/25		266,000		256,772
3.650%, 02/01/26		435,000		425,342
3.800%, 02/01/24		527,000		530,247
Brixmor Operating Partnership L.P.
3.850%, 02/01/25		200,000		195,364
Crown Castle International Corp.
3.700%, 06/15/26		274,000		263,686
4.000%, 03/01/27		47,000		46,217
DDR Corp.
4.700%, 06/01/27		94,000		95,771
Digital Realty Trust L.P.
3.700%, 08/15/27		115,000		110,818
Real Estate Investment Trusts—(Continued)
Duke Realty L.P.
3.250%, 06/30/26		60,000		57,529
3.625%, 04/15/23		210,000		211,364
EPR Properties
4.500%, 06/01/27		207,000		201,809
ERP Operating L.P.
3.500%, 03/01/28		184,000		180,226
4.625%, 12/15/21		60,000		62,698
4.750%, 07/15/20		190,000		196,945
Essex Portfolio L.P.
4.500%, 03/15/48		130,000		129,474
Goodman U.S. Finance Three LLC
3.700%, 03/15/28 (144A)		805,000		773,603
Government Properties Income Trust
4.000%, 07/15/22		275,000		274,200
HCP, Inc.
3.875%, 08/15/24		357,000		353,941
4.000%, 06/01/25		472,000		472,711
4.200%, 03/01/24		125,000		126,230
Kimco Realty Corp.
3.800%, 04/01/27		200,000		192,549
National Retail Properties, Inc.
4.000%, 11/15/25		193,000		191,792
Realty Income Corp.
3.875%, 07/15/24		200,000		200,760
3.875%, 04/15/25		125,000		124,604
Scentre Group Trust 1 / Scentre Group Trust 2
3.500%, 02/12/25 (144A)		300,000		296,085
Select Income REIT
3.600%, 02/01/20		300,000		299,356
Senior Housing Properties Trust
3.250%, 05/01/19		230,000		230,168
4.750%, 02/15/28		250,000		244,941
Simon Property Group L.P.
3.250%, 11/30/26		122,000		117,663
3.300%, 01/15/26		970,000		942,981
3.375%, 12/01/27		280,000		268,650
3.500%, 09/01/25		275,000		272,268
4.375%, 03/01/21		420,000		434,942
Ventas Realty L.P.
3.750%, 05/01/24		300,000		300,654
3.850%, 04/01/27		508,000		496,899
4.125%, 01/15/26		68,000		68,530
Ventas Realty L.P. / Ventas Capital Corp.
3.250%, 08/15/22		285,000		282,494
VEREIT Operating Partnership L.P.
4.600%, 02/06/24		621,000		629,017
Vornado Realty L.P.
3.500%, 01/15/25		100,000		96,282
Welltower, Inc.
4.000%, 06/01/25		410,000		409,670
WP Carey, Inc.
4.600%, 04/01/24		180,000		184,496
				12,951,459

BHFTI-224

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Retail—0.2%
AutoZone, Inc.
3.750%, 06/01/27		206,000	$	201,786
Darden Restaurants, Inc.
4.550%, 02/15/48		140,000		139,406
Dollar General Corp.
4.125%, 05/01/28		170,000		171,520
Home Depot, Inc. (The)
2.125%, 09/15/26		77,000		69,653
3.500%, 09/15/56		180,000		160,733
4.875%, 02/15/44		250,000		286,243
5.400%, 09/15/40		200,000		243,258
5.875%, 12/16/36		100,000		128,509
Macy’s Retail Holdings, Inc.
4.300%, 02/15/43		90,000		73,307
McDonald’s Corp.
3.350%, 04/01/23		45,000		45,249
4.450%, 03/01/47		60,000		61,843
4.600%, 05/26/45		295,000		310,479
4.875%, 07/15/40		340,000		370,005
6.300%, 10/15/37		325,000		417,146
Nordstrom, Inc.
6.950%, 03/15/28 (b)		170,000		195,583
O’Reilly Automotive, Inc.
3.600%, 09/01/27		185,000		179,256
Walgreens Boots Alliance, Inc.
3.450%, 06/01/26		630,000		595,290
3.800%, 11/18/24		683,000		672,645
4.500%, 11/18/34		292,000		288,879
Walmart, Inc.
3.300%, 04/22/24		150,000		150,840
3.625%, 12/15/47 (b)		65,000		63,596
				4,825,226
Savings & Loans—0.1%
Nationwide Building Society
4.000%, 09/14/26 (144A)		250,000		240,884
4.125%, 10/18/32 (144A) (c)		625,000		594,087
4.302%, 03/08/29 (144A) (c)		405,000		403,798
				1,238,769
Semiconductors—0.3%
Analog Devices, Inc.
3.125%, 12/05/23		244,000		238,965
4.500%, 12/05/36		113,000		114,792
Broadcom Corp. / Broadcom Cayman Finance, Ltd.
3.000%, 01/15/22		450,000		441,561
3.125%, 01/15/25		380,000		359,218
3.500%, 01/15/28		245,000		230,283
3.625%, 01/15/24		947,000		931,592
3.875%, 01/15/27		449,000		436,690
Intel Corp.
2.600%, 05/19/26		855,000		806,857
3.100%, 07/29/22		230,000		230,972
3.150%, 05/11/27		200,000		195,844
3.734%, 12/08/47 (144A)		363,000		353,710
Semiconductors—(Continued)
QUALCOMM, Inc.
2.600%, 01/30/23		35,000		33,569
2.900%, 05/20/24		1,020,000		975,346
3.250%, 05/20/27		251,000		237,939
				5,587,338
Software—0.6%
Microsoft Corp.
2.400%, 08/08/26		2,045,000		1,903,033
2.700%, 02/12/25 (b)		600,000		579,338
2.875%, 02/06/24		301,000		295,787
3.450%, 08/08/36		665,000		648,605
3.500%, 02/12/35		1,038,000		1,025,238
4.500%, 10/01/40		500,000		554,637
4.500%, 02/06/57		238,000		260,876
5.200%, 06/01/39 (b)		500,000		602,393
Oracle Corp.
2.400%, 09/15/23		283,000		271,064
2.500%, 05/15/22		226,000		221,563
2.500%, 10/15/22		379,000		369,523
2.650%, 07/15/26		720,000		673,205
2.950%, 11/15/24		1,050,000		1,021,657
2.950%, 05/15/25		450,000		435,763
3.250%, 11/15/27		2,305,000		2,248,382
3.800%, 11/15/37		300,000		296,656
3.850%, 07/15/36		285,000		282,346
4.125%, 05/15/45		115,000		115,930
6.125%, 07/08/39		70,000		90,398
VMware, Inc.
2.950%, 08/21/22		869,000		832,808
				12,729,202
Telecommunications—1.3%
America Movil S.A.B. de C.V.
5.000%, 03/30/20 (b)		100,000		103,211
6.375%, 03/01/35 (b)		600,000		728,911
AT&T, Inc.
3.400%, 05/15/25		1,607,000		1,548,421
3.900%, 08/14/27 (b)		690,000		694,750
3.950%, 01/15/25		124,000		123,923
4.100%, 02/15/28 (144A)		107,000		106,243
4.125%, 02/17/26		66,000		66,160
4.300%, 02/15/30 (144A)		1,569,000		1,560,038
4.300%, 12/15/42		122,000		113,249
4.350%, 06/15/45		530,000		484,329
4.450%, 04/01/24		28,000		28,900
4.500%, 05/15/35		990,000		972,332
4.500%, 03/09/48		865,000		803,961
4.900%, 08/14/37		706,000		709,986
5.150%, 11/15/46 (144A)		1,106,000		1,130,352
5.250%, 03/01/37		875,000		925,640
5.350%, 09/01/40		90,000		94,467
5.800%, 02/15/19		151,000		154,822
6.350%, 03/15/40		225,000		261,077

BHFTI-225

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
British Telecommunications plc
9.125%, 12/15/30		75,000	$	109,586
Cisco Systems, Inc.
5.500%, 01/15/40 (b)		110,000		138,001
5.900%, 02/15/39		750,000		980,049
Crown Castle Towers LLC
3.663%, 05/15/25 (144A)		260,000		258,112
4.883%, 08/15/20 (144A)		500,000		517,486
Deutsche Telekom International Finance B.V.
2.485%, 09/19/23 (144A)		460,000		434,500
3.600%, 01/19/27 (144A) (b)		1,125,000		1,104,394
Koninklijke KPN NV
8.375%, 10/01/30		250,000		339,682
Qwest Corp.
6.750%, 12/01/21		350,000		375,231
6.875%, 09/15/33		85,000		80,890
7.250%, 09/15/25 (b)		133,000		143,497
Rogers Communications, Inc.
8.750%, 05/01/32		400,000		546,145
SES GLOBAL Americas Holdings GP
5.300%, 03/25/44 (144A)		280,000		234,489
Telefonica Emisiones S.A.U.
3.192%, 04/27/18		150,000		150,060
4.103%, 03/08/27		217,000		216,778
4.665%, 03/06/38		455,000		460,238
5.213%, 03/08/47		612,000		650,418
Verizon Communications, Inc.
2.625%, 08/15/26 (b)		870,000		794,517
3.450%, 03/15/21		180,000		181,811
4.125%, 08/15/46		1,490,000		1,340,948
4.272%, 01/15/36		1,340,000		1,282,734
4.400%, 11/01/34		1,622,000		1,601,890
4.672%, 03/15/55		131,000		124,604
4.812%, 03/15/39		1,428,000		1,459,280
5.012%, 08/21/54		767,000		766,891
5.250%, 03/16/37		274,000		295,457
Vodafone Group plc
6.250%, 11/30/32		750,000		880,852
				26,079,312
Toys/Games/Hobbies—0.0%
Hasbro, Inc.
3.500%, 09/15/27		83,000		77,743
Transportation—0.4%
Burlington Northern Santa Fe LLC
3.000%, 03/15/23		500,000		495,573
3.050%, 09/01/22		620,000		618,677
3.450%, 09/15/21		510,000		518,364
7.950%, 08/15/30		100,000		136,650
Canadian Pacific Railway Co.
2.900%, 02/01/25		785,000		754,614
5.750%, 03/15/33		120,000		137,990
6.125%, 09/15/15		102,000		127,390
7.250%, 05/15/19		290,000		304,014
Transportation—(Continued)
CSX Corp.
2.600%, 11/01/26		300,000		273,817
3.250%, 06/01/27		805,000		769,450
3.400%, 08/01/24		200,000		199,559
3.800%, 11/01/46		410,000		377,291
4.750%, 05/30/42		41,000		43,485
FedEx Corp.
3.250%, 04/01/26		82,000		79,679
3.900%, 02/01/35		96,000		92,825
4.100%, 02/01/45		450,000		425,953
Norfolk Southern Corp.
4.150%, 02/28/48 (b)		385,000		381,492
5.590%, 05/17/25		100,000		111,775
Ryder System, Inc.
2.500%, 05/11/20		844,000		833,323
2.875%, 09/01/20		330,000		327,929
Union Pacific Corp.
3.600%, 09/15/37		24,000		23,108
3.799%, 10/01/51		378,000		360,405
				7,393,363
Trucking & Leasing—0.1%
Aviation Capital Group LLC
3.500%, 11/01/27 (144A)		1,080,000		1,013,331
Penske Truck Leasing Co. L.P. / PTL Finance Corp.
2.875%, 07/17/18 (144A)		93,000		93,037
3.950%, 03/10/25 (144A)		65,000		65,139
				1,171,507
Water—0.0%
American Water Capital Corp.
3.850%, 03/01/24		100,000		102,871
6.593%, 10/15/37		100,000		134,422
				237,293
Total Corporate Bonds & Notes (Cost $499,129,855)				489,845,831
Convertible Bonds—18.9%
Aerospace/Defense—1.2%
Airbus SE
Zero Coupon, 06/14/21 (EUR)		4,600,000		7,018,485
Zero Coupon, 07/01/22 (EUR)		5,100,000		7,457,998
MTU Aero Engines AG
0.125%, 05/17/23		2,200,000		3,549,540
Safran S.A.
Zero Coupon, 12/31/20		5,650,700		7,022,431
				25,048,454
Airlines—0.3%
ANA Holdings, Inc.
Zero Coupon, 09/16/22		670,000,000		6,485,597

BHFTI-226

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Convertible Bonds—(Continued)

Security Description	Principal Amount*		Value
Apparel—0.2%
LVMH Moet Hennessy Louis Vuitton SE
Zero Coupon, 02/16/21		1,019,400	$	3,170,844
Auto Parts & Equipment—0.4%
Cie Generale des Etablissements Michelin
Zero Coupon, 01/10/22		5,800,000		6,014,600
Valeo S.A.
Zero Coupon, 06/16/21		2,800,000		2,867,200
				8,881,800
Banks—0.5%
Credit Agricole S.A.
Zero Coupon, 10/03/19		4,380,000		4,269,459
Gunma Bank, Ltd. (The)
Zero Coupon, 10/11/19		2,100,000		2,128,875
Yamaguchi Financial Group, Inc.
1.786%, 3M LIBOR - 0.500%, 03/26/20 (c)		2,900,000		3,045,725
				9,444,059
Biotechnology—0.5%
Illumina, Inc.
Zero Coupon, 06/15/19 (b)		8,972,000		9,926,047
Building Materials—0.1%
LIXIL Group Corp.
Zero Coupon, 03/04/20		230,000,000		2,141,558
Chemicals—0.8%
BASF SE
0.925%, 03/09/23		4,500,000		4,423,500
Brenntag Finance B.V.
1.875%, 12/02/22		4,000,000		3,996,000
Kansai Paint Co., Ltd.
Zero Coupon, 06/17/19		230,000,000		2,272,332
Mitsubishi Chemical Holdings Corp.
Zero Coupon, 03/30/22		210,000,000		2,087,073
RPM International, Inc.
2.250%, 12/15/20 (b)		1,435,000		1,611,485
Toray Industries, Inc.
Zero Coupon, 08/30/19		210,000,000		2,291,833
				16,682,223
Coal—0.3%
RAG-Stiftung
Zero Coupon, 02/18/21		4,100,000		5,417,405
Commercial Services—0.3%
Macquarie Infrastructure Corp.
2.875%, 07/15/19		4,167,000		4,120,121
Toppan Printing Co., Ltd.
Zero Coupon, 12/19/19		290,000,000		2,800,385
				6,920,506
Diversified Financial Services—0.5%
Citigroup Global Markets Funding Luxembourg SCA
0.500%, 08/04/23		1,300,000		1,801,916
Magyar Nemzeti Vagyonkezelo Zrt
3.375%, 04/02/19		3,100,000		4,031,815
Mebuki Financial Group, Inc.
Zero Coupon, 04/24/19		3,000,000		2,943,750
Solidium Oy
Zero Coupon, 09/04/18		1,800,000		2,228,098
				11,005,579
Electric—0.1%
Tohoku Electric Power Co., Inc.
Zero Coupon, 12/03/18		200,000,000		1,863,164
Engineering & Construction—0.4%
Shimizu Corp.
Zero Coupon, 10/16/20		420,000,000		4,110,004
Vinci S.A.
0.375%, 02/16/22		3,400,000		3,630,996
				7,741,000
Food—0.3%
Carrefour S.A.
Zero Coupon, 06/14/23		4,000,000		3,540,840
J Sainsbury plc
1.250%, 11/21/19		1,900,000		2,661,703
				6,202,543
Forest Products & Paper—0.1%
Daio Paper Corp.
Zero Coupon, 09/17/20		190,000,000		1,881,608
Gas—0.5%
National Grid North America, Inc.
0.900%, 11/02/20		1,600,000		2,189,624
Snam S.p.A.
Zero Coupon, 03/20/22		6,600,000		8,169,694
				10,359,318
Healthcare-Products—0.1%
QIAGEN NV
0.375%, 03/19/19		2,200,000		2,590,676
Healthcare-Services—0.5%
Anthem, Inc.
2.750%, 10/15/42 (b)		2,241,000		6,750,035
Fresenius Medical Care AG & Co. KGaA
1.125%, 01/31/20		2,800,000		4,234,224
				10,984,259
Holding Companies-Diversified—0.6%
Industrivarden AB
Zero Coupon, 05/15/19		33,000,000		4,157,823

BHFTI-227

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Convertible Bonds—(Continued)

Security Description	Principal Amount*		Value
Holding Companies-Diversified—(Continued)
Sagerpar S.A.
0.375%, 10/09/18		2,500,000	$	3,388,351
Wendel S.A.
Zero Coupon, 07/31/19		7,696,700		5,066,665
				12,612,839
Home Furnishings—0.4%
Sony Corp.
Zero Coupon, 09/30/22		738,000,000		8,635,026
Internet—0.9%
Priceline Group, Inc. (The)
0.350%, 06/15/20		7,288,000		11,700,716
0.900%, 09/15/21 (b)		5,290,000		6,602,449
				18,303,165
Investment Company Security—0.1%
Ares Capital Corp.
4.375%, 01/15/19		1,851,000		1,871,824
Iron/Steel—0.1%
APERAM S.A.
0.625%, 07/08/21		1,600,000		1,960,000
Miscellaneous Manufacturing—0.4%
Siemens Financieringsmaatschappij NV
1.650%, 08/16/19		7,000,000		7,781,550
Oil & Gas—0.8%
BP Capital Markets plc
1.000%, 04/28/23		2,700,000		4,441,550
Eni S.p.A.
Zero Coupon, 04/13/22		3,800,000		4,852,357
TOTAL S.A.
0.500%, 12/02/22		8,000,000		8,327,232
				17,621,139
Oil & Gas Services—0.3%
TechnipFMC plc
0.875%, 01/25/21		4,700,000		6,563,834
Pharmaceuticals—0.5%
Bayer AG
0.050%, 06/15/20		5,300,000		7,682,190
Bayer Capital Corp. B.V.
5.625%, 11/22/19		2,400,000		3,013,322
				10,695,512
Real Estate—1.6%
CapitaLand, Ltd.
1.850%, 06/19/20 (SGD)		4,500,000		3,317,126
1.950%, 10/17/23 (SGD)		11,000,000		8,546,886
Deutsche Wohnen SE
0.325%, 07/26/24		9,300,000		12,003,898
Real Estate—(Continued)
LEG Immobilien AG
0.500%, 07/01/21		3,300,000		6,982,002
TAG Immobilien AG
0.625%, 09/01/22		1,700,000		2,308,158
				33,158,070
Real Estate Investment Trusts—1.0%
Beni Stabili S.p.A. SIIQ
0.875%, 01/31/21		1,400,000		1,723,456
Extra Space Storage L.P.
3.125%, 10/01/35 (b)		1,415,000		1,574,766
Fonciere Des Regions
0.875%, 04/01/19		4,013,600		4,925,199
Spirit Realty Capital, Inc.
2.875%, 05/15/19		3,376,000		3,358,918
Unibail-Rodamco SE
Zero Coupon, 07/01/21 (EUR)		1,459,600		5,346,586
Zero Coupon, 01/01/22 (EUR)		1,121,300		4,714,998
				21,643,923
Semiconductors—2.3%
Intel Corp.
3.250%, 08/01/39		7,805,000		19,414,547
Novellus Systems, Inc.
2.625%, 05/15/41		2,618,000		15,846,519
STMicroelectronics NV
Zero Coupon, 07/03/22		9,600,000		11,880,000
				47,141,066
Software—1.0%
Akamai Technologies, Inc.
Zero Coupon, 02/15/19 (b)		2,101,000		2,154,786
Citrix Systems, Inc.
0.500%, 04/15/19 (b)		6,501,000		8,557,916
Red Hat, Inc.
0.250%, 10/01/19		4,627,000		9,356,220
				20,068,922
Telecommunications—1.4%
America Movil S.A.B. de C.V.
Zero Coupon, 05/28/20		14,400,000		17,496,995
Telenor East Holding II A/S
0.250%, 09/20/19		5,800,000		5,616,082
Vodafone Group plc
Zero Coupon, 11/26/20		4,600,000		6,206,816
				29,319,893
Water—0.4%
Suez
Zero Coupon, 02/27/20		14,597,500		3,299,525
Veolia Environnement S.A.
Zero Coupon, 03/15/21		11,027,100		4,043,351
				7,342,876
Total Convertible Bonds (Cost $363,150,833)				391,466,279

BHFTI-228

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Convertible Preferred Stocks—0.8%

Security Description	Shares/ Principal Amount*		Value
Banks—0.7%
Wells Fargo & Co., Series L
7.500%, 12/31/49		11,468	$	14,793,720
Machinery—0.1%
Stanley Black & Decker, Inc.
5.375%, 05/15/20 (b)		13,709		1,573,793
Total Convertible Preferred Stocks (Cost $15,343,986)				16,367,513
Municipals—0.1%
American Municipal Power, Inc., Build America Bonds
5.939%, 02/15/47		75,000		94,900
7.499%, 02/15/50		350,000		520,173
Los Angeles, CA Unified School District, Build America Bond
6.758%, 07/01/34		75,000		100,326
Los Angeles, Department of Airports, Build America Bond
6.582%, 05/15/39		65,000		84,164
Los Angeles, Unified School District, Build America Bond
5.750%, 07/01/34		100,000		123,833
Ohio University, Revenue Bond
5.590%, 12/01/2114		300,000		350,682
Port Authority of New York & New Jersey
4.458%, 10/01/62		130,000		142,259
5.647%, 11/01/40		30,000		38,143
State of California, General Obligation Unlimited, Build America Bond
7.300%, 10/01/39		260,000		379,171
State of Massachusetts, Build America Bond
5.456%, 12/01/39		150,000		184,877
University of California, Build America Bond
5.770%, 05/15/43		140,000		178,601
Total Municipals (Cost $1,992,384)				2,197,129
U.S. Treasury & Government Agencies—0.1%
Federal Agencies—0.1%
Federal Farm Credit Bank
5.250%, 12/28/27		585,000		690,997
Tennessee Valley Authority
5.375%, 04/01/56		350,000		486,184
				1,177,181
U.S. Treasury—0.0%
U.S. Treasury Notes
1.250%, 11/15/18		435,000		432,944
Total U.S. Treasury & Government Agencies (Cost $1,577,366)				1,610,125
Preferred Stock—0.1%
Security Description	Shares/ Principal Amount*		Value
Household Products—0.1%
Henkel AG & Co. KGaA (Cost $1,425,837)		11,813		1,553,429
Foreign Government — 0.1%
Electric—0.0%
Hydro-Quebec
8.400%, 01/15/22		165,000		193,830
9.375%, 04/15/30		275,000		420,045
				613,875
Provincial—0.1%
Province of Quebec Canada
6.350%, 01/30/26		600,000		707,738
Sovereign—0.0%
Colombia Government International Bond
7.375%, 09/18/37		150,000		192,000
Total Foreign Government (Cost $1,676,696)				1,513,613
Short-Term Investments—15.9%
Repurchase Agreement—14.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $296,152,026; collateralized by U.S. Treasury Notes at 1.875% maturity dates ranging from 02/28/22 - 03/31/22, and an aggregate market value of $302,058,208.		296,132,284		296,132,284
U.S. Treasury — 1.6%
U.S. Treasury Bills
1.271% 05/03/18 (b) (e) (f)		30,000,000		29,958,002
1.406% 05/24/18 (e) (g)		200,000		199,523
1.481% 05/10/18 (e) (g)		410,000		409,296
1.767% 09/13/18 (e) (g)		3,090,000		3,063,833
1.960% 01/31/19 (e) (g)		160,000		157,315
				33,787,969
Total Short-Term Investments (Cost $329,929,641)				329,920,253
Securities Lending Reinvestments (h)—3.9%
Certificates of Deposit—1.6%
Bank of Nova Scotia
2.482%, 3M LIBOR + 0.280%, 03/20/19 (c)		2,000,000		1,999,128
BNP Paribas New York
1.886%, 1M LIBOR + 0.200%, 05/04/18 (c)		1,500,000		1,500,036
Canadian Imperial Bank of Commerce
1.920%, 1M LIBOR + 0.170%, 04/13/18 (c)		1,250,000		1,249,960

BHFTI-229

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Chiba Bank, Ltd., New York
1.740%, 04/11/18		1,000,000	$	999,923
China Construction Bank
1.950%, 04/20/18		2,000,000		1,999,792
Citigroup Global Markets, Ltd.
2.070%, 1M LIBOR + 0.330%, 09/12/18 (c)		1,000,000		999,825
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (c)		1,500,000		1,500,000
Credit Suisse AG New York
1.930%, 1M LIBOR + 0.190%, 05/11/18 (c)		1,200,000		1,199,866
1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		1,000,000		999,958
Mitsubishi UFJ Trust and Banking Corp.
1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		500,000		499,970
2.077%, 1M LIBOR + 0.200%, 05/30/18 (c)		1,000,000		999,834
Mizuho Bank, Ltd., New York
2.008%, 1M LIBOR + 0.200%, 04/18/18 (c)		1,000,000		999,986
2.077%, 1M LIBOR + 0.200%, 05/29/18 (c)		1,000,000		999,916
Natixis New York
2.220%, 06/11/18		1,000,000		1,000,166
Norinchukin Bank New York
1.670%, 1M LIBOR + 0.300%, 09/04/18 (c)		1,500,000		1,499,091
Oversea-Chinese Banking Corp., Ltd.
2.150%, 06/06/18		1,000,000		1,000,099
Royal Bank of Canada New York
1.990%, 1M LIBOR + 0.250%, 01/11/19 (c)		2,000,000		1,996,180
2.301%, 1M LIBOR + 0.440%, 09/17/18 (c)		500,000		499,930
Standard Chartered plc
2.250%, 08/21/18		1,500,000		1,499,370
State Street Bank and Trust Co.
1.831%, 1M LIBOR + 0.120%, 05/08/18 (c)		1,000,000		999,946
Sumitomo Mitsui Banking Corp., London
2.038%, 1M LIBOR + 0.230%, 05/17/18 (c)		1,000,000		999,250
Sumitomo Mitsui Banking Corp., New York
2.000%, 05/21/18		500,000		500,002
2.010%, 1M LIBOR + 0.270%, 09/10/18 (c)		2,000,000		1,999,402
2.062%, 1M LIBOR + 0.190%, 04/26/18 (c)		500,000		499,996
Svenska Handelsbanken AB
2.027%, 1M LIBOR + 0.150%, 04/30/18 (c)		2,000,000		1,999,944
Wells Fargo Bank N.A.
1.835%, 3M LIBOR + 0.130%, 07/11/18 (c)		500,000		499,992
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (c)		1,500,000		1,499,866
				32,441,428
Commercial Paper—0.5%
Industrial & Commercial Bank of China, Ltd.
1.960%, 04/20/18		1,993,576		1,997,848
ING Funding LLC
1.930%, 1M LIBOR + 0.190%, 08/10/18 (c)		1,500,000		1,499,466
LMA S.A. & LMA Americas
2.150%, 06/04/18		2,485,965		2,490,100
Macquarie Bank, Ltd., London
2.020%, 05/16/18		497,503		498,735
Ridgefield Funding Co. LLC
2.018%, 1M LIBOR + 0.210%, 05/17/18 (c)		1,500,000		1,499,784
Commercial Paper—(Continued)
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (c)		2,000,000		1,999,712
				9,985,645
Repurchase Agreements—1.2%
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,700,331; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $1,734,009.		1,700,000		1,700,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $900,175; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $918,002.		900,000		900,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $900,180; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $918,006.		900,000		900,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $301,432; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $333,214.		300,000		300,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $2,002,070; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,221,424.		2,000,000		2,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,017,987; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $895,121; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $912,852.		894,951		894,951
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $1,971,911; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,055,768.		1,900,000		1,900,000

BHFTI-230

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $2,041,131; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000	$	2,000,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,509,481; collateralized by various Common Stock with an aggregate market value of $1,668,390.		1,500,000		1,500,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $1,000,874; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $7,001,384; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $7,140,000.		7,000,000		7,000,000
Societe Generale
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,701,031; collateralized by various Common Stock with an aggregate market value of $1,889,931.		1,700,000		1,700,000
				25,794,951
Time Deposits—0.6%
DNB Bank ASA
1.640%, 04/02/18		4,000,000		4,000,000
Time Deposits—(Continued)
DZ Bank AG
1.670%, 04/02/18		4,000,000		4,000,000
Nordea Bank New York
1.640%, 04/02/18		4,000,000		4,000,000
				12,000,000
Total Securities Lending Reinvestments (Cost $80,232,351)				80,222,024
Total Investments— 98.0% (Cost $1,922,686,515)				2,031,144,178
Other assets and liabilities (net)—2.0%				42,401,228
Net Assets—100.0%			$	2,073,545,406

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $78,552,722 and the collateral received consisted of cash in the amount of $80,221,995. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(e)	The rate shown represents current yield to maturity.
(f)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $21,444,937.
(g)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $3,730,205.
(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $81,311,147, which is 3.9% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	2,006,979	CBNA		04/26/18		USD	2,489,955	$	(16,609	)
EUR	2,122,280	RBC		04/26/18		USD	2,624,532		(9,092	)
JPY	172,800,000	ANZ		04/26/18		USD	1,572,201		53,890
Contracts to Deliver
EUR	720,115	ANZ		04/26/18		USD	886,548		(902	)
EUR	126,023,816	SSBT		04/26/18		USD	155,442,312		133,983

BHFTI-231

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
EUR	1,734,903	SSBT		04/26/18		USD	2,147,931	$	9,883
GBP	11,065,654	ANZ		04/26/18		USD	15,409,842		(129,772	)
JPY	3,610,092,499	ANZ		04/26/18		USD	32,766,180		(1,205,701	)
JPY	250,123,800	ANZ		04/26/18		USD	2,271,457		(82,271	)
SEK	26,883,800	CBNA		04/26/18		USD	3,372,003		147,236
SGD	12,660,049	SSBT		04/26/18		USD	9,604,465		(56,274	)
SGD	261,442	SSBT		04/26/18		USD	200,217		714
SGD	261,599	TDB		04/26/18		USD	200,009		386
SGD	255,339	TDB		04/26/18		USD	192,361		(2,485	)
Net Unrealized Depreciation								$	(1,157,014	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Aluminum Futures		05/14/18		54			USD	2,694,938		$	(166,213	)
Aluminum Futures		09/17/18		60			USD	3,022,875			(276,031	)
Australian 10 Year Treasury Bond Futures		06/15/18		614			AUD	79,584,777			1,041,431
Brent Crude Oil Futures		05/31/18		84			USD	5,783,400			240,915
Copper Futures		07/27/18		66			USD	5,025,900			(320,922	)
Corn Futures		05/14/18		260			USD	5,040,750			198,340
Cotton No. 2 Futures		07/09/18		28			USD	1,145,200			(26,354	)
Euro Stoxx 50 Index Futures		06/15/18		158			EUR	5,183,980			(14,797	)
FTSE 100 Index Futures		06/15/18		42			GBP	2,937,270			(7,976	)
Gasoline RBOB Futures		04/30/18		37			USD	3,140,012			68,769
Gasoline RBOB Futures		09/18/18		39			USD	1,789,369			(88,974	)
Gold 100 oz. Futures		06/27/18		67			USD	8,892,910			85,365
Hang Seng Index Futures		04/27/18		107			HKD	160,767,500			(913,585	)
Kansas City Hard Red Winter Wheat Futures		05/14/18		44			USD	1,027,950			(43,000	)
Lean Hogs Futures		10/12/18		60			USD	1,581,000			15,733
Live Cattle Futures		08/31/18		70			USD	2,841,300			(70,716	)
MSCI Emerging Markets Index Mini Futures		06/15/18		208			USD	12,353,120			(396,391	)
Natural Gas Futures		04/26/18		75			USD	2,049,750			58,158
Natural Gas Futures		06/27/18		139			USD	3,936,480			140,826
Natural Gas Futures		12/27/18		81			USD	2,506,950			(11,551	)
New York Harbor ULSD Futures		04/30/18		32			USD	2,716,224			228,025
Nickel Futures		06/18/18		30			USD	2,393,280			139,268
Russell 2000 Index Mini Futures		06/15/18		416			USD	31,848,960			(1,458,080	)
S&P 500 Index E-Mini Futures		06/15/18		2,488			USD	327,732,000			(17,471,026	)
Silver Futures		07/27/18		31			USD	2,534,870			(119,751	)
Soybean Futures		05/14/18		91			USD	4,753,613			47,094
Soybean Meal Futures		05/14/18		70			USD	2,688,000			58,344
Soybean Oil Futures		07/13/18		100			USD	1,927,800			(1,195	)
Sugar No. 11 Futures		09/28/18		149			USD	2,147,746			(88,895	)
TOPIX Index Futures		06/07/18		291			JPY	4,995,015,000			330,969
U.S. Treasury Long Bond Futures		06/20/18		27			USD	3,958,875			96,721
U.S. Treasury Note 10 Year Futures		06/20/18		23			USD	2,786,234			(410	)
U.S. Treasury Note 2 Year Futures		06/29/18		113			USD	24,024,859			13,739
U.S. Treasury Note 5 Year Futures		06/29/18		13			USD	1,487,992			825
U.S. Treasury Ultra Long Bond Futures		06/20/18		110			USD	17,651,563			630,030
WTI Light Sweet Crude Oil Futures		05/21/18		89			USD	5,773,430			673,928
Wheat Futures		05/14/18		113			USD	2,548,150			(106,908	)
Zinc Futures		05/14/18		28			USD	2,294,600			(141,284	)
Aluminum Futures		05/14/18		(54	)		USD	(2,694,938	)		241,643

BHFTI-232

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro Stoxx 50 Index Futures		06/15/18		(495	)		EUR	(16,240,950	)	$	358,381
Euro-Bund Futures		06/07/18		(328	)		EUR	(52,293,040	)		(864,113	)
FTSE 100 Index Futures		06/15/18		(208	)		GBP	(14,546,480	)		279,200
Natural Gas Futures		09/26/18		(81	)		USD	(2,305,260	)		7,079
Nickel Futures		06/18/18		(3	)		USD	(239,328	)		(11,295	)
U.S. Treasury Note 10 Year Futures		06/20/18		(1,077	)		USD	(125,865,109	)		(1,363,879	)
U.S. Treasury Note 2 Year Futures		06/29/18		(636	)		USD	(135,219,563	)		(119,617	)
U.S. Treasury Note Ultra 10 Year Futures		06/20/18		(318	)		USD	(41,295,281	)		(693,236	)
Net Unrealized Depreciation										$	(19,821,416	)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)			Unrealized Depreciation
Pay	3M LIBOR		Quarterly	2.364%	Semi-Annually		11/24/27		USD	236,700,000	$	(8,131,687	)	$	71,226		$	(8,202,913	)
Pay	3M LIBOR		Quarterly	2.540%	Semi-Annually		01/18/28		USD	195,900,000		(3,907,088	)		(84,258	)		(3,822,830	)
Pay	3M LIBOR		Quarterly	2.580%	Semi-Annually		01/19/28		USD	197,000,000		(3,804,917	)		(96,834	)		(3,708,083	)
Totals											$	(15,843,692	)	$	(109,866	)	$	(15,733,826	)

Glossary of Abbreviations

Counterparties

(ANZ)—	Australia & New Zealand Banking Corp.
(CBNA)—	Citibank N.A.
(RBC)—	Royal Bank of Canada
(SSBT)—	State Street Bank and Trust
(TDB)—	Toronto Dominion Bank

Currencies

(AUD)—	Australian Dollar
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(JPY)—	Japanese Yen
(SEK)—	Swedish Krona
(SGD)—	Singapore Dollar
(USD)—	United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(ICE)—	Intercontinental Exchange Index
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(ADR)—	American Depositary Receipt
(GDR)—	Global Depositary Receipt

BHFTI-233

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	4,960,769	$	1,959,789	$	—	$	6,920,558
Air Freight & Logistics		—		4,298,145		—		4,298,145
Airlines		2,677,772		5,486,575		—		8,164,347
Auto Components		654,024		11,634,478		—		12,288,502
Automobiles		2,747,619		16,110,009		—		18,857,628
Banks		29,203,878		54,003,295		—		83,207,173
Beverages		8,289,619		10,351,149		—		18,640,768
Biotechnology		5,396,004		2,503,078		—		7,899,082
Building Products		1,634,738		2,859,167		—		4,493,905
Capital Markets		7,767,213		14,092,609		—		21,859,822
Chemicals		4,578,275		14,894,079		—		19,472,354
Communications Equipment		593,898		1,004,761		—		1,598,659
Construction & Engineering		—		8,908,792		—		8,908,792
Construction Materials		1,143,523		3,037,665		—		4,181,188
Consumer Finance		2,138,312		—		—		2,138,312
Containers & Packaging		814,283		—		—		814,283
Distributors		—		203,063		—		203,063
Diversified Consumer Services		100,674		—		—		100,674
Diversified Financial Services		3,860,581		5,298,938		—		9,159,519
Diversified Telecommunication Services		1,274,821		7,383,247		—		8,658,068
Electric Utilities		5,190,527		7,555,584		—		12,746,111
Electrical Equipment		1,433,905		8,903,820		—		10,337,725
Electronic Equipment, Instruments & Components		196,903		5,958,343		—		6,155,246
Energy Equipment & Services		395,265		586,092		—		981,357
Equity Real Estate Investment Trusts		4,974,128		2,101,408		—		7,075,536
Food & Staples Retailing		3,372,772		12,326,132		—		15,698,904
Food Products		2,328,422		10,319,638		—		12,648,060
Gas Utilities		—		534,143		—		534,143
Health Care Equipment & Supplies		6,332,337		1,873,775		—		8,206,112
Health Care Providers & Services		5,430,511		—		—		5,430,511
Hotels, Restaurants & Leisure		1,999,161		7,605,340		—		9,604,501
Household Durables		858,307		14,120,557		—		14,978,864
Household Products		1,839,779		576,525		—		2,416,304
Independent Power and Renewable Electricity Producers		—		1,658,731		—		1,658,731
Industrial Conglomerates		2,452,768		7,551,773		—		10,004,541
Insurance		5,077,266		34,861,654		—		39,938,920
Internet & Direct Marketing Retail		8,733,874		—		—		8,733,874
Internet Software & Services		19,346,251		8,401,254		—		27,747,505
IT Services		12,158,393		11,234,875		—		23,393,268
Life Sciences Tools & Services		1,479,165		—		—		1,479,165
Machinery		7,184,381		6,834,118		—		14,018,499

BHFTI-234

Brighthouse Funds Trust I

JPMorgan Global Active Allocation Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Marine	$	—		$	433,534		$	—	$	433,534
Media		9,048,445			2,728,676			—		11,777,121
Metals & Mining		1,896,169			15,158,549			—		17,054,718
Multi-Utilities		1,001,735			—			—		1,001,735
Multiline Retail		3,045,061			2,409,724			—		5,454,785
Oil, Gas & Consumable Fuels		13,616,895			20,598,318			—		34,215,213
Paper & Forest Products		—			2,774,155			—		2,774,155
Personal Products		1,507,680			3,849,155			—		5,356,835
Pharmaceuticals		10,833,258			26,641,183			—		37,474,441
Professional Services		—			3,161,567			—		3,161,567
Real Estate Management & Development		—			4,379,998			—		4,379,998
Road & Rail		4,277,617			4,695,979			—		8,973,596
Semiconductors & Semiconductor Equipment		16,320,860			9,474,783			—		25,795,643
Software		13,599,315			3,736,886			—		17,336,201
Specialty Retail		6,586,599			2,947,878			—		9,534,477
Technology Hardware, Storage & Peripherals		15,184,158			1,873,869			—		17,058,027
Textiles, Apparel & Luxury Goods		1,964,557			3,700,527			—		5,665,084
Thrifts & Mortgage Finance		—			5,057,762			—		5,057,762
Tobacco		3,016,313			7,884,676			—		10,900,989
Trading Companies & Distributors		609,912			9,127,745			—		9,737,657
Transportation Infrastructure		—			1,301,624			—		1,301,624
Wireless Telecommunication Services		418,979			5,931,122			—		6,350,101
Total Common Stocks		271,547,671			444,900,311			—		716,447,982
Total Corporate Bonds & Notes*		—			489,845,831			—		489,845,831
Total Convertible Bonds*		—			391,466,279			—		391,466,279
Total Convertible Preferred Stocks*		16,367,513			—			—		16,367,513
Total Municipals		—			2,197,129			—		2,197,129
Total U.S. Treasury & Government Agencies*		—			1,610,125			—		1,610,125
Total Preferred Stock*		—			1,553,429			—		1,553,429
Total Foreign Government*		—			1,513,613			—		1,513,613
Total Short-Term Investments*		—			329,920,253			—		329,920,253
Total Securities Lending Reinvestments*		—			80,222,024			—		80,222,024
Total Investments	$	287,915,184		$	1,743,228,994		$	—	$	2,031,144,178
Collateral for Securities Loaned (Liability)	$	—		$	(80,221,995	)	$	—	$	(80,221,995	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	346,092		$	—	$	346,092
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(1,503,106	)		—		(1,503,106	)
Total Forward Contracts	$	—		$	(1,157,014	)	$	—	$	(1,157,014	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	4,954,783		$	—		$	—	$	4,954,783
Futures Contracts (Unrealized Depreciation)		(24,776,199	)		—			—		(24,776,199	)
Total Futures Contracts	$	(19,821,416	)	$	—		$	—	$	(19,821,416	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—		$	(15,733,826	)	$	—	$	(15,733,826	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $1,463,017 were due to the application of a systematic fair valuation model factor.

BHFTI-235

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—96.8% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.2%
AAR Corp. (a)		36,000	$	1,587,960
Curtiss-Wright Corp.		21,500		2,904,005
Moog, Inc. - Class A		22,900		1,887,189
				6,379,154
Auto Components—0.3%
Cooper-Standard Holdings, Inc. (b)		2,100		257,901
Stoneridge, Inc. (b)		41,300		1,139,880
				1,397,781
Banks—17.9%
1st Source Corp.		28,891		1,462,462
American National Bankshares, Inc.		1,700		63,920
BancFirst Corp.		34,300		1,821,330
BancorpSouth Bank		99,900		3,176,820
Bank of Hawaii Corp. (a)		43,700		3,631,470
Banner Corp.		40,700		2,258,443
Bryn Mawr Bank Corp. (a)		8,300		364,785
Cadence BanCorp		4,500		122,535
Cathay General Bancorp		55,100		2,202,898
Central Pacific Financial Corp.		122,201		3,477,840
Central Valley Community Bancorp		6,500		127,140
Century Bancorp, Inc. - Class A		2,200		174,680
Citizens & Northern Corp.		5,100		117,759
City Holding Co. (a)		38,709		2,653,889
Columbia Banking System, Inc.		28,029		1,175,817
Community Bank System, Inc. (a)		36,300		1,944,228
Community Trust Bancorp, Inc.		32,716		1,478,763
East West Bancorp, Inc.		3,328		208,133
FCB Financial Holdings, Inc. - Class A (b)		65,700		3,357,270
Financial Institutions, Inc.		18,599		550,530
First Bancorp		8,100		288,765
First BanCorp (b)		323,700		1,948,674
First Citizens BancShares, Inc. - Class A		2,200		909,128
First Commonwealth Financial Corp.		324,700		4,588,011
First Community Bancshares, Inc.		16,100		480,585
First Financial Bancorp		28,900		848,215
First Financial Bankshares, Inc.		20,200		935,260
First Financial Corp.		5,500		228,800
First Hawaiian, Inc.		25,800		718,014
First Interstate BancSystem, Inc. - Class A		26,922		1,064,765
Flushing Financial Corp.		39,100		1,054,136
Fulton Financial Corp.		94,500		1,677,375
Glacier Bancorp, Inc. (a)		56,700		2,176,146
Great Southern Bancorp, Inc.		9,900		494,505
Great Western Bancorp, Inc.		28,000		1,127,560
Hancock Holding Co.		85,900		4,441,030
Heritage Financial Corp.		6,434		196,880
Hilltop Holdings, Inc.		65,100		1,527,246
Hope Bancorp, Inc.		122,029		2,219,708
Independent Bank Corp.		14,700		336,630
Investors Bancorp, Inc.		260,200		3,549,128
Lakeland Financial Corp.		11,200		517,776
MainSource Financial Group, Inc.		37,904		1,540,798
Mercantile Bank Corp.		5,100		169,575
OFG Bancorp		150,445		1,572,150
Banks—(Continued)
PacWest Bancorp		39,700		1,966,341
Preferred Bank		4,700		301,740
Republic Bancorp, Inc. - Class A		5,200		199,160
S&T Bancorp, Inc.		5,900		235,646
Sandy Spring Bancorp, Inc.		7,100		275,196
Simmons First National Corp. - Class A		26,158		744,195
South State Corp.		1,900		162,070
Southside Bancshares, Inc.		20,712		719,535
State Bank Financial Corp.		15,400		462,154
Stock Yards Bancorp, Inc. (a)		5,100		179,010
Tompkins Financial Corp. (a)		5,959		451,454
TriState Capital Holdings, Inc. (b)		6,800		158,100
Trustmark Corp.		94,800		2,953,968
UMB Financial Corp.		59,500		4,307,205
Umpqua Holdings Corp.		157,761		3,377,663
Union Bankshares Corp.		98,674		3,622,323
Valley National Bancorp (a)		20,174		251,368
Washington Trust Bancorp, Inc.		10,200		548,250
Webster Financial Corp. (a)		29,800		1,650,920
West Bancorp, Inc.		3,470		88,832
Westamerica Bancorp (a)		91,900		5,337,552
				92,974,254
Biotechnology—3.2%
Acorda Therapeutics, Inc. (b)		12,500		295,625
Adamas Pharmaceuticals, Inc. (a) (b)		43,300		1,034,870
AMAG Pharmaceuticals, Inc. (b)		114,300		2,303,145
Ardelyx, Inc. (b)		125,100		631,755
Arsanis, Inc. (a) (b)		44,462		1,017,735
Bluebird Bio, Inc. (b)		6,300		1,075,725
Deciphera Pharmaceuticals, Inc. (a) (b)		51,600		1,034,064
Enanta Pharmaceuticals, Inc. (b)		17,600		1,424,016
Epizyme, Inc. (b)		33,500		594,625
Fate Therapeutics, Inc. (b)		75,400		735,904
Five Prime Therapeutics, Inc. (a) (b)		62,400		1,072,032
Idera Pharmaceuticals, Inc. (b)		488,500		898,840
Immune Design Corp. (b)		3,000		9,900
Iovance Biotherapeutics, Inc. (b)		89,300		1,509,170
MacroGenics, Inc. (a) (b)		3,100		77,996
Radius Health, Inc. (b)		13,500		485,190
Rigel Pharmaceuticals, Inc. (b)		127,700		452,058
Syndax Pharmaceuticals, Inc. (a) (b)		66,900		951,987
Tocagen, Inc. (a) (b)		102,100		1,209,885
				16,814,522
Building Products—0.1%
Gibraltar Industries, Inc. (a) (b)		16,800		568,680
Capital Markets—1.1%
Arlington Asset Investment Corp. - Class A (a)		11,600		128,064
Associated Capital Group, Inc. - Class A		3,000		112,350
GAMCO Investors, Inc. - Class A		5,100		126,633
Oppenheimer Holdings, Inc. - Class A		18,609		479,182
Stifel Financial Corp.		43,400		2,570,582
Virtus Investment Partners, Inc.		17,000		2,104,600
				5,521,411

BHFTI-236

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Chemicals—1.1%
American Vanguard Corp.		26,300	$	531,260
FutureFuel Corp.		45,000		539,550
Innophos Holdings, Inc.		5,700		229,197
Minerals Technologies, Inc.		28,000		1,874,600
Rayonier Advanced Materials, Inc.		44,600		957,562
Trinseo S.A.		13,300		984,865
Tronox, Ltd. - Class A		19,800		365,112
				5,482,146
Commercial Services & Supplies—2.0%
ACCO Brands Corp.		388,200		4,871,910
ARC Document Solutions, Inc. (b)		225,390		495,858
Ceco Environmental Corp.		17,100		76,095
Ennis, Inc.		22,300		439,310
Essendant, Inc.		101,400		790,920
Quad/Graphics, Inc.		91,707		2,324,772
VSE Corp.		31,900		1,649,868
				10,648,733
Communications Equipment—1.2%
Comtech Telecommunications Corp.		9,500		283,955
Finisar Corp. (a) (b)		51,900		820,539
Infinera Corp. (b)		49,700		539,742
InterDigital, Inc.		18,000		1,324,800
NETGEAR, Inc. (a) (b)		16,500		943,800
NetScout Systems, Inc. (a) (b)		77,500		2,042,125
Ribbon Communications, Inc. (b)		20,900		106,590
				6,061,551
Construction & Engineering—1.5%
Argan, Inc.		9,510		408,455
EMCOR Group, Inc.		65,400		5,096,622
KBR, Inc.		63,300		1,024,827
MYR Group, Inc. (b)		46,300		1,426,966
				7,956,870
Consumer Finance—0.5%
EZCORP, Inc. - Class A (a) (b)		90,200		1,190,640
Nelnet, Inc. - Class A		24,200		1,268,322
Regional Management Corp. (b)		9,000		286,560
				2,745,522
Containers & Packaging—0.3%
Graphic Packaging Holding Co.		97,900		1,502,765
Myers Industries, Inc.		14,600		308,790
				1,811,555
Distributors—0.1%
Funko, Inc. - Class A (a) (b)		59,600		489,316
Weyco Group, Inc.		1,800		60,480
				549,796
Diversified Consumer Services—0.9%
American Public Education, Inc. (b)		18,300		786,900
Diversified Consumer Services—(Continued)
Ascent Capital Group, Inc. - Class A (b)		69,200		254,656
Houghton Mifflin Harcourt Co. (b)		149,800		1,041,110
K12, Inc. (b)		71,000		1,006,780
Regis Corp. (b)		101,100		1,529,643
				4,619,089
Diversified Financial Services—0.3%
Cannae Holdings, Inc. (b)		60,000		1,131,600
Marlin Business Services Corp.		8,674		245,908
				1,377,508
Diversified Telecommunication Services—0.8%
Consolidated Communications Holdings, Inc.		187,200		2,051,712
Intelsat S.A. (b)		231,300		869,688
Windstream Holdings, Inc.		693,800		978,258
				3,899,658
Electric Utilities—1.4%
El Paso Electric Co.		68,705		3,503,955
Portland General Electric Co.		88,100		3,568,931
Spark Energy, Inc. - Class A (a)		25,100		297,435
				7,370,321
Electrical Equipment—0.2%
Powell Industries, Inc.		32,600		874,984
Electronic Equipment, Instruments & Components—3.5%
Bel Fuse, Inc. - Class B		53,900		1,018,710
Benchmark Electronics, Inc.		167,500		4,999,875
Insight Enterprises, Inc. (b)		24,300		848,799
Tech Data Corp. (a) (b)		53,300		4,537,429
TTM Technologies, Inc. (b)		162,200		2,480,038
Vishay Intertechnology, Inc.		241,800		4,497,480
				18,382,331
Energy Equipment & Services—2.0%
Archrock, Inc.		210,600		1,842,750
FTS International, Inc. (b)		38,500		708,015
Natural Gas Services Group, Inc. (b)		11,800		281,430
Noble Corp. plc (a) (b)		608,475		2,257,442
Parker Drilling Co. (a) (b)		82,300		52,261
Rowan Cos. plc - Class A (a) (b)		315,700		3,643,178
Unit Corp. (b)		82,600		1,632,176
				10,417,252
Equity Real Estate Investment Trusts—8.7%
Alexander & Baldwin, Inc.		53,189		1,230,262
American Assets Trust, Inc.		24,300		811,863
Apartment Investment & Management Co. - Class A		52,400		2,135,300
Ashford Hospitality Prime, Inc.		78,600		763,992
Ashford Hospitality Trust, Inc.		238,295		1,539,386
CBL & Associates Properties, Inc.		96,400		401,988
Cedar Realty Trust, Inc.		73,100		288,014
CorEnergy Infrastructure Trust, Inc.		20,200		758,308

BHFTI-237

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
CoreSite Realty Corp.		22,100	$	2,215,746
DCT Industrial Trust, Inc.		49,075		2,764,886
DiamondRock Hospitality Co.		234,300		2,446,092
EPR Properties		17,600		975,040
First Industrial Realty Trust, Inc.		33,500		979,205
Franklin Street Properties Corp.		65,600		551,696
Getty Realty Corp.		38,929		981,789
Gladstone Commercial Corp.		19,500		338,130
Government Properties Income Trust		121,500		1,659,690
Hersha Hospitality Trust		18,200		325,780
Highwoods Properties, Inc.		7,900		346,178
Hospitality Properties Trust		42,400		1,074,416
InfraREIT, Inc.		107,500		2,088,725
Investors Real Estate Trust		101,600		527,304
Kite Realty Group Trust (a)		32,400		493,452
LaSalle Hotel Properties (a)		21,100		612,111
LTC Properties, Inc.		26,300		999,400
Mack-Cali Realty Corp.		33,900		566,469
Pebblebrook Hotel Trust (a)		88,800		3,050,280
Pennsylvania Real Estate Investment Trust (a)		118,300		1,141,595
PotlatchDeltic Corp.		48,900		2,545,245
Preferred Apartment Communities, Inc. - Class A		52,900		750,651
PS Business Parks, Inc.		17,200		1,944,288
RLJ Lodging Trust		137,357		2,670,220
Saul Centers, Inc.		3,100		158,007
Sunstone Hotel Investors, Inc.		133,973		2,039,069
Taubman Centers, Inc.		3,600		204,876
Urstadt Biddle Properties, Inc. - Class A		20,700		399,510
Washington Prime Group, Inc. (a)		174,247		1,162,227
Washington Real Estate Investment Trust		2,500		68,250
Xenia Hotels & Resorts, Inc.		52,700		1,039,244
				45,048,684
Food & Staples Retailing—0.0%
SpartanNash Co.		5,400		92,934
United Natural Foods, Inc. (b)		2,000		85,880
				178,814
Food Products—0.6%
Darling Ingredients, Inc. (b)		140,400		2,428,920
Dean Foods Co.		15,700		135,334
Fresh Del Monte Produce, Inc. (a)		11,500		520,260
				3,084,514
Gas Utilities—1.6%
Northwest Natural Gas Co.		59,600		3,435,940
Southwest Gas Holdings, Inc.		40,100		2,711,963
Spire, Inc. (a)		33,439		2,417,640
				8,565,543
Health Care Equipment & Supplies—0.9%
AngioDynamics, Inc. (b)		70,600		1,217,850
FONAR Corp. (b)		8,319		247,906
Halyard Health, Inc. (b)		7,600		350,208
Meridian Bioscience, Inc.		50,500		717,100
Health Care Equipment & Supplies—(Continued)
Wright Medical Group NV (a) (b)		114,700		2,275,648
				4,808,712
Health Care Providers & Services—1.9%
American Renal Associates Holdings, Inc. (b)		89,800		1,692,730
Community Health Systems, Inc. (a) (b)		182,400		722,304
Cross Country Healthcare, Inc. (b)		18,500		205,535
Kindred Healthcare, Inc. (b)		134,500		1,230,675
Molina Healthcare, Inc. (a) (b)		23,900		1,940,202
Owens & Minor, Inc.		130,800		2,033,940
Tivity Health, Inc. (b)		22,400		888,160
Triple-S Management Corp. - Class B (b)		12,800		334,592
WellCare Health Plans, Inc. (b)		4,100		793,883
				9,842,021
Health Care Technology—0.3%
Allscripts Healthcare Solutions, Inc. (b)		113,300		1,399,255
Hotels, Restaurants & Leisure—2.2%
Brinker International, Inc.		36,700		1,324,870
Penn National Gaming, Inc. (a) (b)		123,500		3,243,110
Pinnacle Entertainment, Inc. (b)		170,700		5,146,605
Ruth’s Hospitality Group, Inc.		72,800		1,779,960
Speedway Motorsports, Inc.		10,800		192,456
				11,687,001
Household Durables—1.9%
AV Homes, Inc. (b)		7,900		146,545
Beazer Homes USA, Inc. (b)		165,200		2,634,940
Hamilton Beach Brands Holding Co. - Class A (a)		26,400		560,208
Helen of Troy, Ltd. (b)		7,500		652,500
Hovnanian Enterprises, Inc. - Class A (a) (b)		334,700		612,501
KB Home		146,500		4,167,925
MDC Holdings, Inc.		40,159		1,121,239
				9,895,858
Household Products—0.2%
Central Garden and Pet Co. - Class A (b)		27,800		1,101,158
Independent Power and Renewable Electricity Producers—1.3%
Atlantic Power Corp. (a) (b)		562,500		1,181,250
Dynegy, Inc. (a) (b)		301,700		4,078,984
Pattern Energy Group, Inc. - Class A		73,900		1,277,731
				6,537,965
Insurance—4.4%
Argo Group International Holdings, Ltd.		20,019		1,149,091
CNO Financial Group, Inc.		218,100		4,726,227
Global Indemnity, Ltd.		3,100		107,012
Hallmark Financial Services, Inc. (b)		19,521		174,127
Heritage Insurance Holdings, Inc. (a)		137,500		2,084,500
Horace Mann Educators Corp.		36,311		1,552,295
Infinity Property & Casualty Corp.		2,300		272,320
MBIA, Inc. (a) (b)		346,300		3,206,738
Navigators Group, Inc. (The)		15,500		893,575

BHFTI-238

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Primerica, Inc.		50,600	$	4,887,960
ProAssurance Corp.		35,000		1,699,250
Third Point Reinsurance, Ltd. (b)		104,900		1,463,355
Universal Insurance Holdings, Inc.		15,000		478,500
				22,694,950
Internet & Direct Marketing Retail—0.3%
Liberty TripAdvisor Holdings, Inc. - Class A (b)		129,000		1,386,750
IT Services—1.7%
Convergys Corp.		25,600		579,072
EVERTEC, Inc.		9,200		150,420
Perficient, Inc. (b)		57,600		1,320,192
Travelport Worldwide, Ltd.		209,700		3,426,498
Unisys Corp. (a) (b)		289,000		3,106,750
				8,582,932
Machinery—2.7%
AGCO Corp. (a)		25,400		1,647,190
Briggs & Stratton Corp.		40,900		875,669
Douglas Dynamics, Inc.		71,942		3,118,686
Graham Corp.		6,800		145,656
Harsco Corp. (b)		58,500		1,208,025
Hurco Cos., Inc.		12,082		554,564
Kadant, Inc.		16,207		1,531,561
LB Foster Co. - Class A (b)		4,400		103,620
Wabash National Corp. (a)		224,400		4,669,764
				13,854,735
Marine—0.3%
Costamare, Inc.		268,500		1,675,440
Media—1.3%
Eros International plc (a) (b)		50,500		550,450
EW Scripps Co. (The) - Class A (a)		124,600		1,493,954
Gannett Co., Inc.		278,600		2,780,428
Hemisphere Media Group, Inc. (b)		98,000		1,102,500
tronc, Inc. (b)		62,200		1,021,324
				6,948,656
Metals & Mining—2.4%
Carpenter Technology Corp. (a)		54,800		2,417,776
Cleveland-Cliffs, Inc. (a) (b)		64,200		446,190
Kaiser Aluminum Corp.		28,800		2,905,920
Schnitzer Steel Industries, Inc. - Class A (a)		28,700		928,445
SunCoke Energy, Inc. (b)		234,400		2,522,144
Warrior Met Coal, Inc. (a)		26,400		739,464
Worthington Industries, Inc.		62,400		2,678,208
				12,638,147
Mortgage Real Estate Investment Trusts—1.7%
AG Mortgage Investment Trust, Inc.		25,100		435,987
ARMOUR Residential REIT, Inc.		21,300		495,864
Capstead Mortgage Corp.		200,658		1,735,692
Cherry Hill Mortgage Investment Corp.		33,100		580,574
Mortgage Real Estate Investment Trusts—(Continued)
CYS Investments, Inc.		390,100		2,621,472
Dynex Capital, Inc.		83,775		555,428
Ellington Residential Mortgage REIT (a)		51,500		564,440
Invesco Mortgage Capital, Inc.		111,700		1,829,646
				8,819,103
Multi-Utilities—1.1%
Avista Corp. (a)		66,200		3,392,750
NorthWestern Corp.		34,983		1,882,085
Unitil Corp.		13,800		640,458
				5,915,293
Multiline Retail—1.1%
Dillard’s, Inc. - Class A (a)		71,200		5,720,208
Oil, Gas & Consumable Fuels—3.3%
Delek U.S. Holdings, Inc.		128,200		5,217,740
Denbury Resources, Inc. (b)		850,900		2,331,466
EP Energy Corp. - Class A (a) (b)		497,200		666,248
HighPoint Resources Corp. (b)		456,700		2,320,036
NACCO Industries, Inc. - Class A		12,800		420,480
Pacific Ethanol, Inc. (b)		156,300		468,900
Renewable Energy Group, Inc. (a) (b)		18,100		231,680
REX American Resources Corp. (b)		43,400		3,159,520
Sanchez Energy Corp. (a) (b)		104,100		325,833
Ship Finance International, Ltd.		30,900		441,870
W&T Offshore, Inc. (b)		318,400		1,410,512
				16,994,285
Paper & Forest Products—1.1%
Domtar Corp.		26,400		1,123,056
Louisiana-Pacific Corp.		33,100		952,287
Schweitzer-Mauduit International, Inc.		60,300		2,360,745
Verso Corp. - Class A (b)		62,200		1,047,448
				5,483,536
Pharmaceuticals—0.8%
Amphastar Pharmaceuticals, Inc. (a) (b)		17,400		326,250
Dermira, Inc. (b)		35,700		285,243
Intra-Cellular Therapies, Inc. (b)		67,700		1,425,085
Medicines Co. (The) (b)		38,400		1,264,896
MyoKardia, Inc. (b)		18,700		912,560
				4,214,034
Professional Services—2.9%
Barrett Business Services, Inc.		29,860		2,474,797
CRA International, Inc.		7,200		376,488
FTI Consulting, Inc. (b)		104,900		5,078,209
Huron Consulting Group, Inc. (b)		58,600		2,232,660
ICF International, Inc.		11,300		660,485
RPX Corp.		280,971		3,003,580
TrueBlue, Inc. (b)		49,000		1,269,100
				15,095,319

BHFTI-239

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Real Estate Management & Development—0.0%
St. Joe Co. (The) (a) (b)		11,500	$	216,775
Road & Rail—0.9%
ArcBest Corp.		85,100		2,727,455
Covenant Transportation Group, Inc. - Class A (b)		11,500		343,045
Schneider National, Inc. - Class B		16,800		437,808
YRC Worldwide, Inc. (b)		130,000		1,147,900
				4,656,208
Semiconductors & Semiconductor Equipment—1.3%
Amkor Technology, Inc. (b)		199,500		2,020,935
Cypress Semiconductor Corp. (a)		195,902		3,322,498
Nanometrics, Inc. (b)		36,600		984,540
Xperi Corp.		18,100		382,815
				6,710,788
Software—1.2%
Aspen Technology, Inc. (a) (b)		1,200		94,668
Fair Isaac Corp. (b)		18,500		3,133,345
Progress Software Corp.		70,400		2,706,880
TiVo Corp.		26,100		353,655
				6,288,548
Specialty Retail—2.2%
Aaron’s, Inc.		67,500		3,145,500
Chico’s FAS, Inc.		50,000		452,000
Children’s Place, Inc. (The) (a)		29,800		4,030,450
Hibbett Sports, Inc. (b)		79,600		1,906,420
Hudson, Ltd. - Class A (b)		65,800		1,046,878
Office Depot, Inc.		304,800		655,320
Pier 1 Imports, Inc.		41,400		133,308
				11,369,876
Textiles, Apparel & Luxury Goods—0.9%
Deckers Outdoor Corp. (a) (b)		4,300		387,129
Movado Group, Inc. (a)		103,800		3,985,920
Perry Ellis International, Inc. (b)		14,500		374,100
				4,747,149
Thrifts & Mortgage Finance—3.6%
BankFinancial Corp.		23,785		403,869
Beneficial Bancorp, Inc. (a)		305,055		4,743,605
Charter Financial Corp.		65,900		1,343,701
First Defiance Financial Corp.		9,100		521,612
Meridian Bancorp, Inc.		82,800		1,668,420
Northfield Bancorp, Inc.		169,800		2,650,578
Oritani Financial Corp. (a)		7,300		112,055
Provident Financial Holdings, Inc.		4,900		88,641
Radian Group, Inc.		29,600		563,584
Territorial Bancorp, Inc.		4,200		124,572
United Community Financial Corp.		11,300		111,418
United Financial Bancorp, Inc.		25,800		417,960
Walker & Dunlop, Inc.		36,100		2,145,062
Thrifts & Mortgage Finance—(Continued)
Washington Federal, Inc.		93,900		3,248,940
Waterstone Financial, Inc.		23,600		408,280
WSFS Financial Corp.		5,195		248,841
				18,801,138
Tobacco—0.5%
Universal Corp.		29,767		1,443,700
Vector Group, Ltd.		52,800		1,076,592
				2,520,292
Trading Companies & Distributors—1.3%
DXP Enterprises, Inc. (b)		36,400		1,417,780
MRC Global, Inc. (b)		166,100		2,730,684
Titan Machinery, Inc. (b)		99,900		2,353,644
				6,502,108
Water Utilities—0.6%
American States Water Co. (a)		37,800		2,005,668
California Water Service Group		29,700		1,106,325
				3,111,993
Total Common Stocks (Cost $427,333,052)				502,950,906
Short-Term Investment—0.5%
Repurchase Agreement—0.5%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $2,479,553; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $2,530,509.		2,479,388		2,479,388
Total Short-Term Investments (Cost $2,479,388)				2,479,388
Securities Lending Reinvestments (c)—11.4%
Certificates of Deposit—4.7%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (d)		1,000,000		999,930
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (d)		1,500,000		1,499,346
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (d)		500,000		499,963
Chiba Bank, Ltd., New York 1.740%, 04/11/18		1,000,000		999,923
China Construction Bank 1.950%, 04/20/18		1,500,000		1,499,844
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,000,000		1,000,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (d)		1,500,000		1,499,788

BHFTI-240

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (d)		250,000	$	249,972
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		1,500,000		1,499,937
Mitsubishi UFJ Trust and Banking Corp. 1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		500,000		499,970
Mizuho Bank, Ltd., New York 2.008%, 1M LIBOR + 0.200%, 04/18/18 (d)		1,000,000		999,986
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		500,000		499,958
Norinchukin Bank New York 1.846%, 1M LIBOR + 0.160%, 04/05/18 (d)		1,500,000		1,499,974
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		1,500,000		1,500,148
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		500,000		499,045
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		1,500,000		1,499,789
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		1,000,000		999,917
Standard Chartered plc 2.250%, 08/21/18		1,000,000		999,580
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (d)		500,000		499,973
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (d)		500,000		499,625
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (d)		1,000,000		999,964
2.010%, 1M LIBOR + 0.270%, 09/10/18 (d)		1,000,000		999,701
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		500,000		499,996
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (d)		1,000,000		1,000,385
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,000,000		999,911
				24,246,625
Commercial Paper—1.2%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		1,000,000		999,909
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		1,495,182		1,498,386
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (d)		1,000,000		999,644
Macquarie Bank, Ltd., London 2.020%, 05/16/18		497,503		498,734
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (d)		1,500,000		1,499,784
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		1,000,000		999,856
				6,496,313
Repurchase Agreements—4.6%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,000,194; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $1,020,005.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $600,117; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $612,001.		600,000		600,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $500,100; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $510,003.		500,000		500,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $1,001,035; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $200,955; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $222,142.		200,000		200,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,017,987; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,710,596; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,764,288.		2,710,081		2,710,081
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $765,424; collateralized by various Common Stock with an aggregate market value of $825,000.		750,000		750,000
Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,179,481; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,272,165.		2,100,000		2,100,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,207,585; collateralized by various Common Stock with an aggregate market value of $1,334,712.		1,200,000		1,200,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $1,100,961; collateralized by various Common Stock with an aggregate market value of $1,223,486.		1,100,000		1,100,000

BHFTI-241

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000	$	1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $2,000,396; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $5,001,264; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,701,031; collateralized by various Common Stock with an aggregate market value of $1,889,931.		1,700,000		1,700,000
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				23,860,081
Time Deposits—0.9%
ABN AMRO Bank NV 1.680%, 04/02/18		1,000,000		1,000,000
DZ Bank AG 1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York 1.640%, 04/02/18		2,000,000		2,000,000
				5,000,000
Total Securities Lending Reinvestments (Cost $59,607,377)				59,603,019
Total Investments—108.7% (Cost $489,419,817)				565,033,313
Other assets and liabilities (net)—(8.7)%				(45,350,383	)
Net Assets—100.0%			$	519,682,930

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $58,566,971 and the collateral received consisted of cash in the amount of $59,602,766. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
Russell 2000 Index Mini Futures		06/15/18		210		USD	16,077,600	$	73,679

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-242

Brighthouse Funds Trust I

JPMorgan Small Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	502,950,906	$	—		$	—	$	502,950,906
Total Short-Term Investment*		—		2,479,388			—		2,479,388
Total Securities Lending Reinvestments*		—		59,603,019			—		59,603,019
Total Investments	$	502,950,906	$	62,082,407		$	—	$	565,033,313
Collateral for Securities Loaned (Liability)	$	—	$	(59,602,766	)	$	—	$	(59,602,766	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	73,679	$	—		$	—	$	73,679

* See Schedule of Investments for additional detailed categorizations.

BHFTI-243

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—65.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.1%
Northrop Grumman Corp.		34,356	$	11,994,367
Thales S.A.		60,208		7,336,514
				19,330,881
Banks—2.7%
HDFC Bank, Ltd.		138,507		4,096,489
M&T Bank Corp.		47,432		8,744,564
				12,841,053
Beverages—0.5%
Anheuser-Busch InBev S.A.		22,581		2,481,710
Building Products—1.6%
Assa Abloy AB - Class B		232,764		5,053,733
Geberit AG		5,792		2,561,528
				7,615,261
Capital Markets—6.8%
Goldman Sachs Group, Inc. (The)		37,363		9,410,245
Intercontinental Exchange, Inc.		116,439		8,444,156
London Stock Exchange Group plc		108,371		6,279,432
S&P Global, Inc.		41,908		8,006,943
				32,140,776
Chemicals—4.2%
LyondellBasell Industries NV - Class A		57,625		6,089,810
Sherwin-Williams Co. (The)		34,680		13,598,722
				19,688,532
Electronic Equipment, Instruments & Components—0.8%
Halma plc		239,761		3,971,232
Food Products—3.4%
McCormick & Co., Inc. (a)		63,734		6,780,660
Nestle S.A.		115,665		9,156,781
				15,937,441
Health Care Equipment & Supplies—2.1%
Danaher Corp.		102,908		10,075,722
Health Care Providers & Services—2.0%
UnitedHealth Group, Inc.		44,001		9,416,214
Hotels, Restaurants & Leisure—2.6%
Marriott International, Inc. - Class A		90,726		12,336,921
Household Products—1.3%
Colgate-Palmolive Co.		47,777		3,424,655
Reckitt Benckiser Group plc		35,321		2,993,064
				6,417,719
Industrial Conglomerates—3.2%
Roper Technologies, Inc.		53,712		15,076,421
Insurance—5.8%
AIA Group, Ltd.		1,640,400		14,003,887
Legal & General Group plc		2,336,194		8,462,673
Travelers Cos., Inc. (The)		34,998		4,859,822
				27,326,382
Internet & Direct Marketing Retail—3.0%
Amazon.com, Inc. (b)		7,028		10,171,906
Booking Holdings, Inc. (b)		1,996		4,152,458
				14,324,364
Internet Software & Services—9.1%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		88,847		16,306,978
Alphabet, Inc. - Class A (b)		8,997		9,331,149
Alphabet, Inc. - Class C (b)		5,464		5,637,701
Facebook, Inc. - Class A (b)		72,861		11,642,459
				42,918,287
IT Services—4.2%
Accenture plc - Class A		45,998		7,060,693
CGI Group, Inc. - Class A (b)		130,600		7,531,789
Nomura Research Institute, Ltd.		114,300		5,395,649
				19,988,131
Life Sciences Tools & Services—0.7%
Mettler-Toledo International, Inc. (b)		5,505		3,165,540
Machinery—1.4%
Atlas Copco AB - A Shares		148,674		6,440,782
Oil, Gas & Consumable Fuels—1.0%
EOG Resources, Inc.		45,831		4,824,629
Real Estate Management & Development—1.3%
CBRE Group, Inc. - Class A (b)		126,058		5,952,459
Semiconductors & Semiconductor Equipment—1.6%
Texas Instruments, Inc.		72,975		7,581,373
Software—1.3%
Temenos Group AG (b)		21,520		2,582,250
Tyler Technologies, Inc. (b)		16,408		3,461,432
				6,043,682
Specialty Retail—1.2%
Dufry AG (a) (b)		42,368		5,555,326
Total Common Stocks (Cost $217,361,691)				311,450,838

BHFTI-244

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—21.2%

Security Description	Principal Amount*		Value
Advertising—0.0%
Outfront Media Capital LLC / Outfront Media Capital Corp. 5.250%, 02/15/22		25,000	$	25,438
5.875%, 03/15/25		55,000		55,756
				81,194
Aerospace/Defense—0.1%
Embraer Netherlands Finance B.V. 5.050%, 06/15/25		370,000		379,479
TransDigm, Inc. 6.500%, 07/15/24		76,000		77,900
6.500%, 05/15/25		75,000		75,750
				533,129
Airlines—0.6%
Air Canada Pass-Through Trust 3.300%, 01/15/30 (144A)		230,000		223,524
4.125%, 12/15/27 (144A)		162,342		164,321
American Airlines Pass-Through Trust 4.950%, 02/15/25		158,738		163,103
5.250%, 01/15/24		752,365		778,698
Delta Air Lines Pass-Through Trust 8.021%, 08/10/22		692,412		771,001
Latam Finance, Ltd. 6.875%, 04/11/24 (144A)		400,000		418,500
U.S. Airways Pass-Through Trust 5.900%, 10/01/24		58,149		62,800
8.000%, 10/01/19		27,174		28,736
United Continental Holdings, Inc. 6.375%, 06/01/18		305,000		305,762
				2,916,445
Auto Manufacturers—0.9%
Daimler Finance North America LLC 1.750%, 10/30/19 (144A)		210,000		206,133
FCE Bank plc 0.869%, 09/13/21 (EUR)		155,000		192,635
Ford Motor Co. 6.625%, 10/01/28		1,675,000		1,926,338
Ford Motor Credit Co. LLC 3.470%, 04/05/21		200,000		199,737
General Motors Co. 5.200%, 04/01/45		100,000		97,289
General Motors Financial Co., Inc. 3.450%, 04/10/22		100,000		99,178
5.250%, 03/01/26		295,000		311,580
Hyundai Capital America 2.750%, 09/27/26 (144A)		500,000		445,055
Hyundai Capital Services, Inc. 3.750%, 03/05/23 (144A)		260,000		258,081
Kia Motors Corp. 3.000%, 04/25/23 (144A)		380,000		365,231
				4,101,257
Auto Parts & Equipment—0.4%
Aptiv plc 1.600%, 09/15/28 (EUR)		100,000		121,008
Goodyear Tire & Rubber Co. (The) 7.000%, 03/15/28		1,228,000		1,320,100
Tupy Overseas S.A. 6.625%, 07/17/24 (144A)		200,000		208,000
				1,649,108
Banks—2.0%
Banco Nacional de Comercio Exterior SNC 3.800%, 5Y CMT + 3.000%, 08/11/26 (144A) (c)		210,000		205,800
Banco Santander Mexico S.A. 4.125%, 11/09/22 (144A)		150,000		149,625
Bank of Montreal 1.750%, 06/15/21 (144A)		255,000		246,048
Barclays plc 3.650%, 03/16/25		225,000		216,749
BNP Paribas S.A. 4.625%, 03/13/27 (144A)		355,000		360,668
Canadian Imperial Bank of Commerce 1.600%, 09/06/19		300,000		294,975
Commerzbank AG 4.000%, 03/23/26 (EUR)		50,000		68,483
Commonwealth Bank of Australia 1.375%, 09/06/18 (144A)		300,000		298,342
2.250%, 03/10/20 (144A)		350,000		345,058
Cooperative Rabobank UA 4.375%, 08/04/25		350,000		353,517
Credit Agricole S.A. 4.375%, 03/17/25 (144A)		200,000		199,235
7.500%, 5Y GBP Swap + 4.535%, 06/23/26 (GBP) (c)		160,000		258,848
Deutsche Bank AG 4.500%, 05/19/26 (EUR)		100,000		135,188
Dexia Credit Local S.A. 2.250%, 02/18/20 (144A)		250,000		248,150
HSBC Holdings plc 4.375%, 11/23/26		200,000		199,181
5.750%, 12/20/27 (GBP)		110,000		185,392
ICICI Bank Ltd. 3.800%, 12/14/27		390,000		363,333
Industrial & Commercial Bank of China, Ltd. 2.957%, 11/08/22		250,000		243,930
ING Bank NV 1.650%, 08/15/19 (144A)		210,000		206,709
Intesa Sanpaolo S.p.A. 3.928%, 09/15/26 (EUR)		160,000		211,552
5.710%, 01/15/26 (144A)		250,000		250,891
Kasikornbank PCL 3.256%, 07/12/23		375,000		367,401
Lloyds Banking Group plc 4.500%, 11/04/24		200,000		201,127
Morgan Stanley 4.350%, 09/08/26		315,000		317,246
National Australia Bank, Ltd. 2.500%, 01/12/21		250,000		245,529

BHFTI-245

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Royal Bank of Scotland Group plc 6.000%, 12/19/23		470,000	$	500,682
Santander UK Group Holdings plc 4.750%, 09/15/25 (144A)		200,000		201,206
Siam Commercial Bank PCL 3.500%, 04/07/19 (144A)		420,000		421,508
Societe Generale S.A. 4.000%, 01/12/27 (144A) (a)		665,000		658,996
4.750%, 11/24/25 (144A)		260,000		263,170
6.750%, 5Y EUR Swap + 5.538%, 04/07/21 (EUR) (c)		195,000		265,133
Standard Chartered plc 3.125%, 11/19/24 (EUR)		250,000		331,155
TC Ziraat Bankasi A/S 4.250%, 07/03/19		210,000		209,580
5.125%, 09/29/23 (144A)		210,000		202,650
Woori Bank 5.875%, 04/13/21 (144A)		200,000		212,378
				9,439,435
Beverages—0.1%
Anheuser-Busch InBev Finance, Inc. 3.650%, 02/01/26		345,000		342,947
Constellation Brands, Inc. 4.750%, 11/15/24		110,000		115,667
				458,614
Building Materials—0.5%
Atrium Windows & Doors, Inc. 7.750%, 05/01/19 (144A)		100,000		100,375
Cemex Finance LLC 6.000%, 04/01/24 (144A)		465,000		478,950
CIMPOR Financial Operations B.V. 5.750%, 07/17/24 (144A) (a)		410,000		390,935
Jeld-Wen, Inc. 4.625%, 12/15/25 (144A)		795,000		757,237
Masco Corp. 6.500%, 08/15/32		8,000		9,269
7.750%, 08/01/29		94,000		119,009
Union Andina de Cementos S.A.A. 5.875%, 10/30/21 (144A)		450,000		464,018
				2,319,793
Chemicals—0.8%
Air Liquide Finance S.A. 1.375%, 09/27/19 (144A)		305,000		298,950
Braskem Finance, Ltd. 5.750%, 04/15/21 (144A)		200,000		208,600
Chemours Co. (The) 6.625%, 05/15/23		25,000		26,250
Hexion, Inc. 7.875%, 02/15/23 (d)		899,000		654,023
9.200%, 03/15/21 (d)		1,910,000		1,397,070
Incitec Pivot Finance LLC 6.000%, 12/10/19 (144A)		80,000		83,529
Chemicals—(Continued)
INVISTA Finance LLC 4.250%, 10/15/19 (144A)		305,000		304,573
Israel Chemicals, Ltd. 4.500%, 12/02/24 (144A)		380,000		375,071
Kraton Polymers LLC / Kraton Polymers Capital Corp. 10.500%, 04/15/23 (144A) (a)		205,000		227,550
Syngenta Finance NV 1.250%, 09/10/27 (EUR)		200,000		210,301
				3,785,917
Commercial Services—0.0%
RR Donnelley & Sons Co. 7.000%, 02/15/22		20,000		20,725
Computers—0.2%
Dell International LLC / EMC Corp. 6.020%, 06/15/26 (144A)		165,000		177,692
8.100%, 07/15/36 (144A)		210,000		255,313
8.350%, 07/15/46 (144A)		150,000		190,527
Hewlett Packard Enterprise Co. 6.350%, 10/15/45		160,000		170,944
				794,476
Cosmetics/Personal Care—0.0%
Avon Products, Inc. 8.950%, 03/15/43		40,000		34,300
Diversified Financial Services—2.0%
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 4.500%, 05/15/21		150,000		153,650
Aircastle, Ltd. 4.125%, 05/01/24		195,000		191,100
Ally Financial, Inc. 4.125%, 02/13/22		4,325,000		4,303,375
BOC Aviation Ltd. 3.000%, 03/30/20		200,000		198,584
BOC Aviation, Ltd. 2.750%, 09/18/22 (144A)		210,000		200,861
Jefferies Group LLC 6.250%, 01/15/36		175,000		190,283
Navient Corp. 5.000%, 10/26/20		2,085,000		2,098,031
5.500%, 01/25/23		555,000		545,288
5.625%, 08/01/33 (d)		975,000		853,125
5.875%, 10/25/24		40,000		39,200
Quicken Loans, Inc. 5.250%, 01/15/28 (144A)		65,000		60,775
5.750%, 05/01/25 (144A)		60,000		59,850
Springleaf Finance Corp. 6.875%, 03/15/25		205,000		205,769
7.750%, 10/01/21		165,000		178,613
8.250%, 10/01/23		65,000		70,200
Unifin Financiera S.A. 7.250%, 09/27/23		245,000		249,288
				9,597,992

BHFTI-246

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—0.7%
AES Corp. 4.875%, 05/15/23		670,000	$	681,725
Dynegy, Inc. 8.125%, 01/30/26 (144A)		90,000		99,337
Electricite de France S.A. 6.000%, 13Y GBP Swap + 3.958%, 01/29/26 (GBP) (c)		300,000		437,666
Emgesa S.A. E.S.P 8.750%, 01/25/21 (144A) (COP)		1,210,000,000		452,746
Empresas Publicas de Medellin E.S.P. 8.375%, 02/01/21 (144A) (COP)		1,610,000,000		595,348
Engie Energia Chile S.A. 5.625%, 01/15/21 (144A)		250,000		263,237
Perusahaan Listrik Negara PT 5.250%, 10/24/42 (144A)		220,000		215,600
Transelec S.A. 4.250%, 01/14/25 (144A)		460,000		463,903
				3,209,562
Energy-Alternate Sources—0.0%
Greenko Dutch B.V. 5.250%, 07/24/24 (144A)		200,000		191,800
Engineering & Construction—0.0%
Sydney Airport Finance Co. Pty, Ltd. 3.375%, 04/30/25 (144A)		40,000		38,917
Food—1.4%
BRF S.A. 7.750%, 05/22/18 (144A) (BRL)		480,000		142,904
Danone S.A. 1.691%, 10/30/19 (144A)		225,000		220,476
New Albertsons, Inc. 7.450%, 08/01/29 (a)		5,750,000		4,600,000
8.000%, 05/01/31 (a)		215,000		176,838
SUPERVALU, Inc. 6.750%, 06/01/21 (a)		1,415,000		1,393,775
				6,533,993
Forest Products & Paper—0.1%
Inversiones CMPC S.A. 4.375%, 05/15/23 (144A)		400,000		408,301
Klabin Finance S.A. 5.250%, 07/16/24		255,000		259,144
				667,445
Gas—0.1%
China Resources Gas Group, Ltd. 4.500%, 04/05/22 (144A)		200,000		205,737
NGL Energy Partners L.P. / NGL Energy Finance Corp. 6.125%, 03/01/25 (a)		265,000		252,412
6.875%, 10/15/21		20,000		19,950
7.500%, 11/01/23		125,000		125,469
				603,568
Healthcare-Services—1.8%
HCA, Inc. 7.050%, 12/01/27		80,000		84,600
7.500%, 11/06/33		5,060,000		5,528,050
7.580%, 09/15/25		375,000		411,094
7.750%, 07/15/36		1,420,000		1,562,000
Kindred Healthcare, Inc. 8.750%, 01/15/23 (a)		85,000		89,887
Tenet Healthcare Corp. 5.125%, 05/01/25 (144A)		70,000		67,288
6.875%, 11/15/31		910,000		828,100
				8,571,019
Holding Companies-Diversified—0.0%
Alfa S.A.B. de CV 6.875%, 03/25/44		200,000		208,500
Home Builders—0.4%
K Hovnanian Enterprises, Inc. 5.000%, 11/01/21 (d)		700,000		631,750
TRI Pointe Group, Inc. 4.875%, 07/01/21		1,355,000		1,363,875
TRI Pointe Group, Inc. / TRI Pointe Homes, Inc. 4.375%, 06/15/19		30,000		30,075
				2,025,700
Home Furnishings—0.1%
Arcelik A/S 5.000%, 04/03/23 (144A)		300,000		295,333
Housewares—0.0%
Newell Brands, Inc. 4.000%, 12/01/24		150,000		148,136
Insurance—0.5%
AIA Group, Ltd. 3.200%, 03/11/25 (144A)		200,000		193,290
3.900%, 04/06/28 (144A)		260,000		261,943
Allianz SE 2.241%, 3M EURIBOR + 2.650%, 07/07/45 (EUR) (c)		200,000		250,029
Assicurazioni Generali S.p.A. 4.125%, 05/04/26 (EUR)		200,000		271,848
Global Atlantic Fin Co. 8.625%, 04/15/21 (144A)		820,000		928,811
Old Mutual plc 8.000%, 06/03/21 (GBP)		280,000		443,899
Old Republic International Corp. 4.875%, 10/01/24		175,000		184,529
				2,534,349
Internet—0.3%
Alibaba Group Holding, Ltd. 3.400%, 12/06/27		240,000		227,785
Baidu, Inc. 3.250%, 08/06/18		600,000		600,748
3.875%, 09/29/23		200,000		199,864

BHFTI-247

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Internet—(Continued)
Tencent Holdings, Ltd. 2.985%, 01/19/23 (144A)		200,000	$	194,909
				1,223,306
Iron/Steel—0.2%
United States Steel Corp. 6.650%, 06/01/37		85,000		83,300
7.375%, 04/01/20 (a)		235,000		249,688
Vale S.A. 5.625%, 09/11/42		690,000		728,295
				1,061,283
Media—0.5%
COX Communications, Inc. 4.800%, 02/01/35 (144A)		5,000		4,907
CSC Holdings LLC 5.375%, 02/01/28 (144A)		200,000		188,918
DISH DBS Corp. 5.000%, 03/15/23 (a)		160,000		143,800
5.875%, 11/15/24		570,000		508,012
Grupo Televisa S.A.B. 7.250%, 05/14/43 (MXN)		6,000,000		249,847
Myriad International Holdings B.V. 4.850%, 07/06/27 (144A)		230,000		234,318
6.000%, 07/18/20 (144A)		200,000		210,278
Time Warner Cable LLC 4.500%, 09/15/42		45,000		38,975
5.500%, 09/01/41		30,000		29,806
Viacom, Inc. 4.375%, 03/15/43		10,000		8,961
5.250%, 04/01/44		135,000		136,638
5.850%, 09/01/43		50,000		53,905
Virgin Media Finance plc 4.500%, 01/15/25 (144A) (EUR)		160,000		199,165
Ziggo Secured Finance B.V. 5.500%, 01/15/27 (144A)		325,000		305,406
				2,312,936
Mining—0.5%
Corp. Nacional del Cobre de Chile 3.625%, 08/01/27 (144A)		350,000		339,952
4.500%, 09/16/25 (144A)		225,000		234,344
Freeport-McMoRan, Inc. 5.400%, 11/14/34 (a)		85,000		80,775
5.450%, 03/15/43		895,000		823,131
Glencore Finance Canada, Ltd. 5.550%, 10/25/42 (144A)		435,000		458,503
Hecla Mining Co. 6.875%, 05/01/21		320,000		326,000
				2,262,705
Multi-National—0.2%
Banco Latinoamericano de Comercio Exterior S.A. 3.250%, 05/07/20 (144A)		280,000		278,250
Multi-National—(Continued)
International Bank for Reconstruction & Development 2.500%, 03/12/20 (AUD)		500,000		385,737
International Finance Corp. 7.800%, 06/03/19 (INR)		29,000,000		451,040
				1,115,027
Oil & Gas—1.8%
Antero Resources Corp. 5.125%, 12/01/22		155,000		156,162
5.375%, 11/01/21		70,000		71,225
BP Capital Markets plc 3.216%, 11/28/23		175,000		173,476
California Resources Corp. 8.000%, 12/15/22 (144A) (a)		580,000		455,300
Chesapeake Energy Corp. 4.875%, 04/15/22		2,145,000		1,984,125
5.750%, 03/15/23		130,000		117,162
6.125%, 02/15/21		200,000		201,000
6.625%, 08/15/20		75,000		77,250
Cimarex Energy Co. 4.375%, 06/01/24		675,000		694,632
Continental Resources, Inc. 3.800%, 06/01/24		180,000		173,250
4.500%, 04/15/23 (a)		195,000		197,194
5.000%, 09/15/22		35,000		35,481
Cosan Luxembourg S.A. 5.000%, 03/14/23 (144A)		200,000		200,000
Noble Energy, Inc. 5.625%, 05/01/21		127,000		129,375
Oasis Petroleum, Inc. 6.875%, 01/15/23		45,000		45,563
Petrobras Global Finance B.V. 5.999%, 01/27/28 (144A)		545,000		539,550
Petroleos Mexicanos 6.350%, 02/12/48 (144A)		245,000		236,731
7.470%, 11/12/26 (MXN)		5,600,000		271,707
Raizen Fuels Finance S.A. 5.300%, 01/20/27 (144A)		200,000		202,100
Range Resources Corp. 4.875%, 05/15/25 (a)		130,000		120,575
5.000%, 08/15/22		190,000		183,825
5.000%, 03/15/23		115,000		110,262
Sinopec Group Overseas Development, Ltd. 2.375%, 04/12/20 (144A)		300,000		295,339
Thai Oil PCL 3.625%, 01/23/23 (144A)		350,000		349,376
Whiting Petroleum Corp. 5.750%, 03/15/21		145,000		146,447
6.250%, 04/01/23		15,000		15,188
6.625%, 01/15/26 (144A)		160,000		161,200
YPF S.A. 8.750%, 04/04/24 (144A)		590,000		657,555
16.500%, 05/09/22 (144A) (ARS)		5,400,000		253,280
				8,254,330

BHFTI-248

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas Services—0.1%
Oceaneering International, Inc. 4.650%, 11/15/24		575,000	$	554,861
Packaging & Containers—0.4%
Owens-Brockway Glass Container, Inc. 5.375%, 01/15/25 (144A)		1,230,000		1,234,612
Sealed Air Corp. 4.875%, 12/01/22 (144A)		10,000		10,100
5.500%, 09/15/25 (144A)		280,000		289,800
Silgan Holdings, Inc. 3.250%, 03/15/25 (EUR)		100,000		125,025
				1,659,537
Pharmaceuticals—1.0%
AbbVie, Inc. 2.500%, 05/14/20		4,330,000		4,273,972
Teva Pharmaceutical Finance Co. LLC 6.150%, 02/01/36		155,000		144,601
Teva Pharmaceutical Finance Netherlands II B.V. 0.375%, 07/25/20 (EUR)		215,000		257,251
				4,675,824
Pipelines—0.6%
Abu Dhabi Crude Oil Pipeline LLC 3.650%, 11/02/29		385,000		367,483
Enable Midstream Partners LP 5.000%, 05/15/44		125,000		117,131
Enbridge Energy Partners L.P. 7.375%, 10/15/45		90,000		116,283
Enbridge, Inc. 2.900%, 07/15/22		125,000		121,269
Energy Transfer L.P. / Regency Energy Finance Corp. 5.000%, 10/01/22		440,000		457,420
EnLink Midstream Partners L.P. 4.150%, 06/01/25		230,000		223,544
MPLX L.P. 4.500%, 07/15/23		10,000		10,351
4.875%, 06/01/25		40,000		41,766
ONEOK Partners L.P. 6.200%, 09/15/43		10,000		11,661
Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. 6.750%, 03/15/24		530,000		560,464
Transcontinental Gas Pipe Line Co. LLC 7.850%, 02/01/26		560,000		689,054
				2,716,426
Real Estate—0.1%
Goodman Australia Industrial Fund Bond Issuer Pty, Ltd. 3.400%, 09/30/26 (144A)		215,000		202,696
Prologis L.P. 2.250%, 06/30/29 (GBP)		135,000		179,490
				382,186
Real Estate Investment Trusts—0.4%
iStar, Inc. 5.000%, 07/01/19		1,730,000		1,735,484
Retail—0.1%
Alimentation Couche-Tard, Inc. 3.550%, 07/26/27 (144A)		145,000		139,233
J.C. Penney Corp., Inc. 7.625%, 03/01/97		155,000		97,650
TRU Taj LLC / TRU Taj Finance, Inc. 11.000%, 01/22/19 (144A) (e)		94,000		97,405
12.000%, 08/15/21 (144A) (a) (e)		92,000		71,070
				405,358
Semiconductors—0.0%
Micron Technology, Inc. 5.500%, 02/01/25		104,000		107,900
Shipbuilding—0.0%
Huntington Ingalls Industries, Inc. 5.000%, 11/15/25 (144A)		180,000		189,225
Software—0.1%
Nuance Communications, Inc. 1.000%, 12/15/35		675,000		640,238
Telecommunications—2.2%
America Movil S.A.B. de C.V. 2.125%, 03/10/28 (EUR)		235,000		304,997
CB Escrow Corp. 8.000%, 10/15/25 (144A)		115,000		107,094
CenturyLink, Inc.
6.875%, 01/15/28		45,000		40,725
7.600%, 09/15/39		475,000		409,255
7.650%, 03/15/42		185,000		156,787
Cincinnati Bell, Inc. 7.000%, 07/15/24 (144A)		170,000		152,150
KT Corp. 2.500%, 07/18/26 (144A)		210,000		190,832
Level 3 Communications, Inc. 5.750%, 12/01/22		60,000		59,850
Level 3 Financing, Inc. 5.625%, 02/01/23		380,000		380,361
MTN Mauritius Investments, Ltd. 4.755%, 11/11/24 (144A)		400,000		383,500
Qwest Capital Funding, Inc. 7.750%, 02/15/31		1,445,000		1,300,500
Sprint Capital Corp. 6.875%, 11/15/28		1,250,000		1,165,625
8.750%, 03/15/32		350,000		365,750
Sprint Communications, Inc. 7.000%, 08/15/20		1,500,000		1,560,000
11.500%, 11/15/21		2,000,000		2,320,000
Windstream Services LLC / Windstream Finance Corp. 7.750%, 10/15/20 (a)		1,500,000		1,252,500
				10,149,926

BHFTI-249

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Transportation—0.0%
FedEx Corp. 1.000%, 01/11/23 (EUR)		130,000	$	162,674
Total Corporate Bonds & Notes (Cost $97,536,470)				100,369,933
Foreign Government—6.8%
Banks—0.0%
Korea Development Bank (The) 4.500%, 11/22/19 (AUD)		200,000		157,250
Diversified Financial Services—0.1%
CPPIB Capital, Inc. 0.375%, 06/20/24 (144A) (EUR)		250,000		305,111
Gas—0.1%
Korea Gas Corp. 2.750%, 07/20/22 (144A)		260,000		251,650
Provincial—0.4%
Province of Ontario Canada 1.875%, 05/21/20 (a)		2,045,000		2,012,435
Sovereign—6.2%
Argentine Bonos del Tesoro 21.200%, 09/19/18 (ARS)		2,565,000		126,766
Argentine Republic Government International Bonds 6.875%, 04/22/21		150,000		159,000
7.625%, 04/22/46		530,000		526,688
Australia Government Bond 5.500%, 04/21/23 (AUD)		405,000		357,687
Bonos de la Tesoreria de la Republica en pesos 4.500%, 03/01/26 (CLP)		215,000,000		359,223
Brazil Notas do Tesouro Nacional
10.000%, 01/01/19 (BRL)		1,000,000		318,100
10.000%, 01/01/21 (BRL)		6,815,000		2,218,111
10.000%, 01/01/25 (BRL)		2,635,000		847,342
10.000%, 01/01/27 (BRL)		1,200,000		383,856
Brazilian Government International Bonds 4.625%, 01/13/28		290,000		284,200
8.500%, 01/05/24 (BRL)		350,000		106,682
Canadian Government Bonds 0.500%, 03/01/22 (CAD)		685,000		502,876
1.750%, 09/01/19 (CAD)		715,000		555,240
Chile Government International Bond 3.240%, 02/06/28		400,000		392,200
Colombia Government International Bond 3.875%, 04/25/27 (a)		200,000		197,400
Colombian TES 7.500%, 08/26/26 (COP)		1,880,000,000		721,694
Dominican Republic International Bonds 5.500%, 01/27/25 (144A)		530,000		545,147
5.950%, 01/25/27 (144A)		185,000		193,325
8.625%, 04/20/27 (144A) (f)		200,000		236,000
Sovereign—(Continued)
Export Development Canada 1.800%, 09/01/22 (CAD)		250,000		191,122
Export-Import Bank of Korea 3.000%, 05/22/18 (144A) (NOK)		1,700,000		217,137
3.000%, 11/01/22		200,000		195,714
France Government Bond OAT 4.250%, 10/25/23 (EUR)		1,440,000		2,186,641
Hellenic Republic Government Bond 3.750%, 01/30/28 (EUR)		315,000		370,809
Indonesia Government International Bonds 2.875%, 07/08/21 (144A) (EUR)		220,000		290,270
4.125%, 01/15/25 (144A)		200,000		201,469
4.750%, 01/08/26 (144A)		200,000		208,898
4.750%, 01/08/26		200,000		208,898
Indonesia Treasury Bonds 7.000%, 05/15/22 (IDR)		9,800,000,000		737,518
8.250%, 07/15/21 (IDR)		14,200,000,000		1,101,035
8.375%, 03/15/24 (IDR)		5,900,000,000		468,205
11.500%, 09/15/19 (IDR)		2,901,000,000		226,709
Kommunalbanken AS 1.750%, 09/15/20 (144A)		200,000		196,103
Korea Treasury Bond 2.000%, 09/10/22 (KRW)		380,000,000		349,831
Mexican Bonos 6.500%, 06/10/21 (MXN)		7,621,100		410,559
8.000%, 12/07/23 (MXN)		3,700,000		210,857
Mexico Government International Bonds 4.000%, 03/15/15 (EUR)		100,000		113,724
4.125%, 01/21/26 (a)		335,000		339,690
New Zealand Government Bonds 3.000%, 09/20/30 (NZD) (f)		1,195,000		1,037,146
4.500%, 04/15/27 (NZD)		580,000		478,037
5.000%, 03/15/19 (NZD)		1,015,000		756,035
Norwegian Government Bond 2.000%, 05/24/23 (144A) (NOK)		5,567,000		727,613
Poland Government Bond 2.500%, 07/25/26 (PLN)		1,300,000		365,526
Romanian Government International Bond 2.875%, 05/26/28 (144A) (EUR)		125,000		161,020
Senegal Government International Bond 4.750%, 03/13/28 (144A) (EUR) (f)		150,000		184,433
Singapore Government Bond 2.750%, 07/01/23 (SGD)		1,690,000		1,330,320
South Africa Government Bond 7.000%, 02/28/31 (ZAR)		29,665,000		2,224,742
Spain Government Bonds 0.750%, 07/30/21 (EUR)		390,000		494,775
1.600%, 04/30/25 (144A) (EUR)		180,000		236,140
4.300%, 10/31/19 (144A) (EUR)		640,000		845,478
4.400%, 10/31/23 (144A) (EUR)		525,000		791,885
Sweden Government Bond 5.000%, 12/01/20 (SEK)		2,650,000		363,944
Thailand Government Bond 2.125%, 12/17/26 (THB)		25,000,000		780,144

BHFTI-250

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
United Kingdom Gilt 1.750%, 07/22/19 (GBP)		205,000	$	291,382
2.000%, 09/07/25 (GBP)		495,000		734,864
Uruguay Government International Bond 9.875%, 06/20/22 (144A) (UYU)		5,075,000		181,801
				29,242,011
Total Foreign Government (Cost $32,159,905)				31,968,457
U.S. Treasury & Government Agencies—1.4%
Agency Sponsored Mortgage - Backed—0.1%
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 2.570%, 07/25/26		350,000		334,898
U.S. Treasury—1.3%
U.S. Treasury Inflation Indexed Notes 0.125%, 04/15/22 (f)		1,034,315		1,019,736
0.375%, 07/15/27 (f)		1,033,362		1,008,101
U.S. Treasury Notes 1.500%, 11/30/19		2,030,000		2,005,021
2.375%, 01/31/23 (a)		370,000		366,965
2.750%, 02/28/25		1,845,000		1,852,711
				6,252,534
Total U.S. Treasury & Government Agencies (Cost $6,620,852)				6,587,432
Convertible Bonds—0.5%
Chemicals—0.0%
RPM International, Inc. 2.250%, 12/15/20 (a)		20,000		22,460
Home Builders—0.1%
KB Home 1.375%, 02/01/19		305,000		345,222
Internet—0.2%
Priceline Group, Inc. (The) 0.900%, 09/15/21 (a)		595,000		742,619
Media—0.1%
DISH Network Corp. 3.375%, 08/15/26 (a)		735,000		707,952
Miscellaneous Manufacturing—0.0%
Trinity Industries, Inc. 3.875%, 06/01/36		30,000		40,887
Oil & Gas—0.0%
Chesapeake Energy Corp. 5.500%, 09/15/26		15,000		12,916
Oil & Gas—(Continued)
SM Energy Co. 1.500%, 07/01/21		60,000		56,640
				69,556
Real Estate Investment Trusts—0.0%
iStar, Inc. 3.125%, 09/15/22 (144A)		55,000		52,333
Semiconductors—0.1%
Rovi Corp. 0.500%, 03/01/20 (a)		485,000		469,771
Software—0.0%
Evolent Health, Inc. 2.000%, 12/01/21		75,000		75,296
Nuance Communications, Inc. 1.250%, 04/01/25		45,000		44,510
1.250%, 04/01/25 (144A)		15,000		14,778
				134,584
Telecommunications—0.0%
CalAmp Corp. 1.625%, 05/15/20		5,000		5,332
Total Convertible Bonds (Cost $2,340,207)				2,590,716
Municipals—0.2%
Tobacco Settlement Financing Corp. 6.706%, 06/01/46 (Cost $984,749)		985,000		929,988
Mortgage-Backed Securities—0.1%
Commercial Mortgage-Backed Securities—0.1%
GS Mortgage Securities Trust 5.826%, 08/10/45 (c)		6,258		6,311
Institutional Mortgage Securities Canada, Inc. 2.616%, 07/12/47 (144A) (CAD)		555,000		428,591
Total Mortgage-Backed Securities (Cost $523,922)				434,902
Convertible Preferred Stocks—0.1%
Oil, Gas & Consumable Fuels—0.1%
Chesapeake Energy Corp. 5.000%, 12/31/49		694		37,693
5.750%, 12/31/49		20		11,425
5.750%, 12/31/49		393		222,418
5.750%, 12/31/49 (144A)		17		9,711
Total Convertible Preferred Stocks (Cost $248,513)				281,247

BHFTI-251

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investments—3.0%

Security Description	Principal Amount*		Value
Discount Note—0.2%
Fannie Mae 1.394%, 05/21/18 (g)		1,000,000	$	997,686
Repurchase Agreement—1.2%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $5,793,949; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $5,914,273.		5,793,563		5,793,563
U.S. Treasury—1.6%
U.S. Treasury Bills 1.433%, 05/03/18 (a) (g)		1,800,000		1,797,480
1.631%, 05/31/18 (g)		4,000,000		3,989,063
1.692%, 06/21/18 (g)		2,000,000		1,992,484
				7,779,027
Total Short-Term Investments (Cost $14,570,846)				14,570,276
Securities Lending Reinvestments (h)—8.1%
Certificates of Deposit—3.3%
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (c)		1,000,000		999,564
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (c)		500,000		499,963
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (c)		1,000,000		1,000,024
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (c)		1,000,000		999,968
China Construction Bank 1.950%, 04/20/18		1,000,000		999,896
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (c)		500,000		499,912
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (c)		250,000		249,972
1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		1,000,000		999,958
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (c)		500,000		500,000
Mitsubishi UFJ Trust and Banking Corp. 1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		300,000		299,982
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (c)		500,000		500,011
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (c)		1,000,000		999,394
1.846%, 1M LIBOR + 0.160%, 04/05/18 (c)		250,000		249,996
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (c)		1,500,000		1,497,135
Standard Chartered plc 2.250%, 08/21/18		1,000,000		999,580
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (c)		250,000		249,991
2.000%, 05/21/18		1,000,000		1,000,005
2.062%, 1M LIBOR + 0.190%, 04/26/18 (c)		500,000		499,996
Certificates of Deposit—(Continued)
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (c)		1,000,000		999,972
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (c)		750,000		749,989
1.893%, 3M LIBOR + 0.140%, 10/26/18 (c)		500,000		500,192
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (c)		500,000		499,955
				15,795,455
Commercial Paper—1.3%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (c)		500,000		499,955
Danske Corp. 2.080%, 06/04/18		994,453		996,217
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		996,788		998,924
LMA S.A. & LMA Americas 2.150%, 06/01/18		1,491,848		1,494,343
Macquarie Bank, Ltd., London 2.020%, 05/16/18		995,006		997,469
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (c)		1,000,000		999,856
				5,986,764
Repurchase Agreements—2.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $1,032,211; collateralized by various Common Stock with an aggregate market value of $1,100,000.		1,000,000		1,000,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $700,136; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $714,004.		700,000		700,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $400,078; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $408,001.		400,000		400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $400,080; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $408,003.		400,000		400,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $1,001,035; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000

BHFTI-252

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

$ecurities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $100,477; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $111,071.		100,000	$	100,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $254,497; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $277,678.		250,000		250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,469,422; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,518,337.		2,468,953		2,468,953
Merrill Lynch, Pierce, Fenner & Smith, Inc.
Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $103,785; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $108,198.		100,000		100,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $1,275,707; collateralized by various Common Stock with an aggregate market value of $1,375,000.		1,250,000		1,250,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $805,057; collateralized by various Common Stock with an aggregate market value of $889,808.		800,000		800,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $700,612; collateralized by various Common Stock with an aggregate market value of $778,582.		700,000		700,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $800,836; collateralized by various Common Stock with an aggregate market value of $889,808.		800,000		800,000
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $600,516; collateralized by various Common Stock with an aggregate market value of $667,034.		600,000		600,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,100,667; collateralized by various Common Stock with an aggregate market value of $1,222,896.		1,100,000		1,100,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
				12,668,953
Time Deposits—0.8%
ABN AMRO Bank NV 1.680%, 04/02/18		1,000,000		1,000,000
DNB Bank ASA 1.640%, 04/02/18		1,000,000		1,000,000
DZ Bank AG 1.670%, 04/02/18		1,000,000		1,000,000
Nordea Bank New York 1.640%, 04/02/18		1,000,000		1,000,000
				4,000,000
Total Securities Lending Reinvestments (Cost $38,456,489)				38,451,172
Total Investments—107.3% (Cost $410,803,644)				507,634,961
Other assets and liabilities (net)—(7.3)%				(34,658,636	)
Net Assets—100.0%			$	472,976,325

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $36,406,023 and the collateral received consisted of cash in the amount of $38,447,048. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)		Non-income producing security.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Illiquid security. As of March 31, 2018, these securities represent 0.7% of net assets.
(e)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $168,475, which is 0.0% of net assets. See details shown in the Restricted Securities table that follows.
(f)	Principal amount of security is adjusted for inflation.
(g)	The rate shown represents current yield to maturity.
(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $31,794,758, which is 6.7% of net assets.

BHFTI-253

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Country Diversification as of March 31, 2018 (Unaudited)	% of Net Assets
United States		59.3
United Kingdom		5.4
Switzerland		4.3
China		3.9
Hong Kong		3.1
France		2.7
Canada		2.7
Sweden		2.5
Brazil		1.6
Japan		1.1

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
TRU Taj LLC / TRU Taj Finance, Inc., 11.000%, 01/22/19		09/20/17	$	94,000	$	91,413	$	97,405
TRU Taj LLC / TRU Taj Finance, Inc., 12.000%, 08/15/21		08/09/16		92,000		92,230		71,070
							$	168,475

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CAD	190,000	UBSA		06/20/18		USD	146,783	$	909
EUR	8,530,000	MSC		06/20/18		USD	10,620,660		(65,265	)
GBP	670,000	UBSA		06/20/18		USD	934,596		8,424
JPY	1,513,100,000	CSI		05/09/18		USD	14,301,391		(52,253	)
Contracts to Deliver
AUD	716,000	CSI		06/20/18		USD	559,214		9,188
BRL	11,350,000	BOA		06/20/18		USD	3,448,905		33,734
CAD	940,000	UBSA		06/20/18		USD	734,117		3,433
IDR	27,205,710,000	CSI		06/20/18		USD	1,950,090		(13,527	)
MXN	14,115,000	UBSA		06/20/18		USD	748,791		(18,271	)
NOK	1,065,000	UBSA		06/20/18		USD	137,264		1,072
NZD	2,430,000	CSI		06/20/18		USD	1,762,569		6,858
ZAR	25,900,000	UBSA		06/20/18		USD	2,177,706		12,566
Cross Currency Contracts to Buy
EUR	615,101	CSI		06/20/18		NOK	5,900,000		6,664
Net Unrealized Depreciation								$	(66,468	)

Glossary of Abbreviations

Counterparties

(BOA)—	Bank of America N.A.
(CSI)—	Credit Suisse International
(MSC)—	Morgan Stanley & Co.
(UBSA)—	UBS AG

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CLP)—	Chilean Peso
(COP)—	Colombian Peso
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(NOK)—	Norwegian Krone
(NZD)—	New Zealand Dollar
(PLN)—	Polish Zloty
(SGD)—	Singapore Dollar
(SEK)—	Swedish Krona
(THB)—	Thai Baht
(UYU)—	Uruguayan Peso
(ZAR)—	South African Rand

BHFTI-254

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Glossary of Abbreviations—(Continued)

Index Abbreviations

(CMT)—	Constant Maturity Treasury Index
(FEDEFF PRV)—	Effective Federal Funds Rate
(EURIBOR)—	Euro Interbank Offered Rate
(LIBOR)—	London InterBank Offered Rate

Other Abbreviations

(ADR)—	American Depositary Receipt
(CMO)—	Collateralized Mortgage Obligation

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

BHFTI-255

Brighthouse Funds Trust I

Loomis Sayles Global Markets Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	11,994,367	$	7,336,514		$	—	$	19,330,881
Banks		12,841,053		—			—		12,841,053
Beverages		—		2,481,710			—		2,481,710
Building Products		—		7,615,261			—		7,615,261
Capital Markets		25,861,344		6,279,432			—		32,140,776
Chemicals		19,688,532		—			—		19,688,532
Electronic Equipment, Instruments & Components		—		3,971,232			—		3,971,232
Food Products		6,780,660		9,156,781			—		15,937,441
Health Care Equipment & Supplies		10,075,722		—			—		10,075,722
Health Care Providers & Services		9,416,214		—			—		9,416,214
Hotels, Restaurants & Leisure		12,336,921		—			—		12,336,921
Household Products		3,424,655		2,993,064			—		6,417,719
Industrial Conglomerates		15,076,421		—			—		15,076,421
Insurance		4,859,822		22,466,560			—		27,326,382
Internet & Direct Marketing Retail		14,324,364		—			—		14,324,364
Internet Software & Services		42,918,287		—			—		42,918,287
IT Services		14,592,482		5,395,649			—		19,988,131
Life Sciences Tools & Services		3,165,540		—			—		3,165,540
Machinery		—		6,440,782			—		6,440,782
Oil, Gas & Consumable Fuels		4,824,629		—			—		4,824,629
Real Estate Management & Development		5,952,459		—			—		5,952,459
Semiconductors & Semiconductor Equipment		7,581,373		—			—		7,581,373
Software		3,461,432		2,582,250			—		6,043,682
Specialty Retail		—		5,555,326			—		5,555,326
Total Common Stocks		229,176,277		82,274,561			—		311,450,838
Total Corporate Bonds & Notes*		—		100,369,933			—		100,369,933
Total Foreign Government*		—		31,968,457			—		31,968,457
Total U.S. Treasury & Government Agencies*		—		6,587,432			—		6,587,432
Total Convertible Bonds*		—		2,590,716			—		2,590,716
Total Municipals		—		929,988			—		929,988
Total Mortgage-Backed Securities*		—		434,902			—		434,902
Total Convertible Preferred Stocks*		—		281,247			—		281,247
Total Short-Term Investments*		—		14,570,276			—		14,570,276
Total Securities Lending Reinvestments*		—		38,451,172			—		38,451,172
Total Investments	$	229,176,277	$	278,458,684		$	—	$	507,634,961
Collateral for Securities Loaned (Liability)	$	—	$	(38,447,048	)	$	—	$	(38,447,048	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—	$	82,848		$	—	$	82,848
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—		(149,316	)		—		(149,316	)
Total Forward Contracts	$	—	$	(66,468	)	$	—	$	(66,468	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-256

Brighthouse Funds Trust I

MetLife Multi-Index Targeted Risk Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—75.6% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Affiliated Investment Companies—75.6%
MetLife Aggregate Bond Index Portfolio (Class A) (a)		73,362,629	$	787,914,632
MetLife Mid Cap Stock index Portfolio (Class A) (a)		4,536,397		91,045,483
MetLife MSCI EAFE Index Portfolio (Class A) (a)		14,191,156		204,352,651
MetLife Russell 2000 Index Portfolio (Class A) (a)		1,553,219		34,093,153
MetLife Stock Index Portfolio (Class A) (a)		6,561,288		347,485,809
Total Mutual Funds (Cost $1,384,782,429)				1,464,891,728
Short-Term Investments—25.1%
Discount Notes—13.8%
Federal Home Loan Bank 1.077%, 04/04/18 (b)		25,000,000		24,997,700
1.183%, 04/06/18 (b)		1,500,000		1,499,724
1.313%, 04/11/18 (b)		23,000,000		22,990,455
1.359%, 04/13/18 (b)		21,000,000		20,989,353
1.436%, 04/20/18 (b)		55,500,000		55,453,935
1.521%, 05/04/18 (b)		15,000,000		14,977,335
1.541%, 05/11/18 (b)		30,000,000		29,944,740
1.560%, 04/30/18 (b)		52,000,000		51,932,868
1.574%, 05/02/18 (b)		2,000,000		1,997,166
1.593%, 05/09/18 (b)		1,000,000		998,253
1.622%, 05/18/18 (b) (c)		35,000,000		34,923,980
1.684%, 06/08/18 (b)		4,000,000		3,987,196
1.777%, 06/13/18 (b)		3,000,000		2,989,680
				267,682,385
U.S. Treasury—11.3%
U.S. Treasury Bills 1.217%, 04/05/18 (b)		50,000,000		49,993,226
1.391%, 05/03/18 (b) (d)		89,000,000		88,875,407
1.485%, 05/10/18 (b)		28,000,000		27,951,896
1.553%, 04/12/18 (b)		6,000,000		5,997,273
1.608%, 06/14/18 (b)		1,500,000		1,494,958
1.718%, 06/28/18 (b)		29,000,000		28,882,085
1.901%, 09/13/18 (b)		16,000,000		15,864,508
				219,059,353
Total Short-Term Investments (Cost $486,760,087)				486,741,738
Total Investments—100.7% (Cost $1,871,542,516)				1,951,633,466
Other assets and liabilities (net)—(0.7)%				(12,873,854	)
Net Assets—100.0%			$	1,938,759,612

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	A Portfolio of Brighthouse Funds Trust II.
(b)	The rate shown represents current yield to maturity.
(c)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $20,455,474.
(d)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $22,967,802.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Depreciation
MSCI EAFE Index Mini Futures		06/15/18		1,167		USD	116,735,010	$	(1,983,400	)
Russell 2000 Index Mini Futures		06/15/18		268		USD	20,518,080		(939,828	)
S&P 500 Index E-Mini Futures		06/15/18		1,572		USD	207,739,800		(11,470,601	)
S&P Midcap 400 Index E-Mini Futures		06/15/18		296		USD	55,739,760		(2,128,779	)
Net Unrealized Depreciation

BHFTI-257

Brighthouse Funds Trust I

MetLife Multi-Index Targeted Risk Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Pay	3M LIBOR		Quarterly	2.320%	Semi-Annually		01/10/28		USD	98,000,000	$	(4,112,972	)	$	(5,913	)	$	(4,107,059	)
Pay	3M LIBOR		Quarterly	2.330%	Semi-Annually		02/08/28		USD	97,000,000		(3,712,889	)		(27,001	)		(3,685,888	)
Pay	3M LIBOR		Quarterly	2.460%	Semi-Annually		03/14/28		USD	97,000,000		(2,932,882	)		(2,734	)		(2,930,148	)
Pay	3M LIBOR		Quarterly	2.490%	Semi-Annually		04/10/28		USD	98,000,000		(2,776,918	)		(1,472	)		(2,775,446	)
Pay	3M LIBOR		Quarterly	2.860%	Semi-Annually		05/09/28		USD	97,000,000		380,337			(26,006	)		406,343
Pay	3M LIBOR		Quarterly	2.950%	Semi-Annually		06/13/28		USD	97,000,000		1,090,668			49,837			1,040,831
Totals											$	(12,064,656	)	$	(13,289	)	$	(12,051,367	)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Mutual Funds
Affiliated Investment Companies	$	1,464,891,728		$	—		$	—	$	1,464,891,728
Total Short-Term Investments*		—			486,741,738			—		486,741,738
Total Investments	$	1,464,891,728		$	486,741,738		$	—	$	1,951,633,466
Futures Contracts
Futures Contracts (Unrealized Depreciation)	$	(16,522,608	)	$	—		$	—	$	(16,522,608	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	1,447,174		$	—	$	1,447,174
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(13,498,541	)		—		(13,498,541	)
Total Centrally Cleared Swap Contracts	$	—		$	(12,051,367	)	$	—	$	(12,051,367	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-258

Brighthouse Funds Trust I

MFS Research International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.7% of Net Assets

Security Description	Shares		Value
Australia—3.6%
APA Group		1,711,667	$	10,393,766
Brambles, Ltd.		2,743,367		21,113,384
Caltex Australia, Ltd.		450,709		10,944,522
Oil Search, Ltd.		2,065,301		11,412,204
Orica, Ltd.		612,211		8,387,121
Sonic Healthcare, Ltd.		458,329		8,079,995
				70,330,992
Austria—1.2%
Erste Group Bank AG (b)		447,669		22,514,420
Belgium—1.2%
KBC Groep NV		276,640		24,113,562
Brazil—0.5%
Ambev S.A. (ADR)		1,437,292		10,449,113
Canada—1.7%
Enbridge, Inc.		354,446		11,147,710
Ritchie Bros Auctioneers, Inc. (a)		286,093		8,993,493
TMX Group, Ltd.		210,226		12,197,301
				32,338,504
China—1.9%
Alibaba Group Holding, Ltd. (ADR) (a) (b)		48,895		8,974,188
China Resources Gas Group, Ltd.		3,392,424		11,848,368
Ctrip.com International, Ltd. (ADR) (a) (b)		142,876		6,660,879
Yum China Holdings, Inc.		244,046		10,127,909
				37,611,344
Denmark—2.5%
Jyske Bank A/S		248,086		14,698,660
Novo Nordisk A/S - Class B		663,061		32,625,530
				47,324,190
France—8.8%
BNP Paribas S.A.		447,885		33,208,628
Danone S.A.		350,246		28,367,995
L’Oreal S.A.		107,376		24,257,094
Legrand S.A.		210,111		16,490,642
LVMH Moet Hennessy Louis Vuitton SE		88,406		27,263,434
Schneider Electric SE (b)		450,016		39,583,787
				169,171,580
Germany—9.3%
Bayer AG		385,881		43,632,756
E.ON SE		884,477		9,828,580
GEA Group AG		437,275		18,602,426
Grand City Properties S.A.		855,749		20,456,607
LEG Immobilien AG		261,698		29,444,107
Linde AG (b)		154,569		32,539,515
Scout24 AG		139,568		6,506,745
Symrise AG		225,375		18,147,264
				179,158,000
Hong Kong—3.3%
AIA Group, Ltd.		3,913,428		33,408,439
CLP Holdings, Ltd.		1,173,000		11,990,831
Techtronic Industries Co., Ltd.		2,996,000		17,697,337
				63,096,607
India—0.8%
HDFC Bank, Ltd.		513,374		15,183,573
Ireland—1.3%
AIB Group plc		2,470,479		14,896,605
Paddy Power Betfair plc		91,167		9,346,659
				24,243,264
Israel—1.1%
Check Point Software Technologies, Ltd. (b)		107,258		10,655,010
Mellanox Technologies, Ltd. (b)		135,706		9,886,182
				20,541,192
Italy—2.5%
Cerved Information Solutions S.p.A.		448,766		5,610,505
Eni S.p.A.		971,338		17,122,670
Intesa Sanpaolo S.p.A.		7,058,121		25,739,439
				48,472,614
Japan—18.3%
AEON Financial Service Co., Ltd. (a)		930,399		21,583,964
Daikin Industries, Ltd.		244,200		27,119,157
Hitachi, Ltd.		1,330,000		9,702,933
Japan Tobacco, Inc.		756,031		21,633,954
KDDI Corp.		889,600		22,846,072
Koito Manufacturing Co., Ltd.		328,100		23,006,170
Kubota Corp.		1,466,500		25,843,744
Mitsubishi UFJ Financial Group, Inc.		4,199,900		27,875,386
Nitto Denko Corp.		172,200		13,055,285
Nomura Research Institute, Ltd.		294,000		13,878,573
Santen Pharmaceutical Co., Ltd.		1,632,900		27,447,843
SoftBank Group Corp.		255,300		19,016,966
Sundrug Co., Ltd.		433,370		20,294,886
Terumo Corp.		431,300		22,358,886
TOTO, Ltd.		467,600		24,544,412
USS Co., Ltd.		1,081,600		22,161,168
Yamato Holdings Co., Ltd.		455,366		11,448,223
				353,817,622
Malaysia—0.4%
Malaysia Airports Holdings Bhd		3,720,700		8,545,573
Netherlands—1.6%
Akzo Nobel NV		335,079		31,677,420
Norway—0.7%
DNB ASA		647,543		12,634,251

BHFTI-259

Brighthouse Funds Trust I

MFS Research International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Portugal—0.7%
Galp Energia SGPS S.A.		734,189	$	13,848,531
South Korea—1.1%
NAVER Corp.		19,903		14,758,408
Samsung Electronics Co., Ltd.		2,842		6,622,875
				21,381,283
Spain—3.3%
Aena SME S.A.		51,378		10,353,744
Amadeus IT Group S.A.		272,840		20,170,350
Cellnex Telecom S.A.		645,754		17,261,612
Iberdrola S.A.		2,197,168		16,160,651
				63,946,357
Sweden—0.9%
Com Hem Holding AB		484,275		7,847,068
Telefonaktiebolaget LM Ericsson - B Shares (a)		1,504,787		9,549,199
				17,396,267
Switzerland—12.4%
Dufry AG (a) (b)		65,058		8,530,458
Julius Baer Group, Ltd. (b)		370,435		22,809,536
Nestle S.A.		706,122		55,901,128
Roche Holding AG		197,706		45,345,825
Schindler Holding AG (Participation Certificate)		87,507		18,874,515
Sika AG		2,480		19,438,727
Swiss Re AG		123,695		12,595,066
UBS Group AG (b)		2,037,529		35,877,190
Zurich Insurance Group AG		61,961		20,331,555
				239,704,000
Taiwan—1.5%
Silicon Motion Technology Corp. (ADR) (a)		124,700		6,000,564
Taiwan Semiconductor Manufacturing Co., Ltd.		2,648,468		22,509,381
				28,509,945
Thailand—0.7%
Advanced Info Service PCL		2,051,600		13,515,497
United Kingdom—13.1%
Barclays plc		8,695,751		25,395,651
BP plc		3,983,388		26,822,126
British American Tobacco plc		136,686		7,934,780
Cairn Energy plc (b)		3,057,423		8,849,441
Croda International plc		399,259		25,620,995
GKN plc		3,813,890		24,797,140
Hiscox, Ltd.		839,542		17,164,172
Just Eat plc (b)		1,033,486		10,136,049
Reckitt Benckiser Group plc		372,347		31,552,285
RELX NV		1,153,297		23,926,313
Rio Tinto plc		470,752		23,900,944
Tesco plc		3,722,179		10,755,334
United Kingdom—(Continued)
WPP plc		1,027,755		16,335,141
				253,190,371
United States—4.3%
Aon plc (a)		120,501		16,909,905
Cognizant Technology Solutions Corp. - Class A		353,051		28,420,605
EPAM Systems, Inc. (b)		135,880		15,560,978
MasterCard, Inc. - Class A		72,781		12,748,320
NVIDIA Corp.		37,084		8,588,284
				82,228,092
Total Common Stocks (Cost $1,564,382,647)				1,904,944,164
Short-Term Investment—1.3%
Repurchase Agreement—1.3%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $25,013,985; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $25,514,747.		25,012,318		25,012,318
Total Short-Term Investments (Cost $25,012,318)				25,012,318
Securities Lending Reinvestments (c)—2.5%
Certificates of Deposit—0.6%
China Construction Bank
1.950%, 04/20/18		1,000,000		999,896
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,000,000		1,000,000
Mitsubishi UFJ Trust and Banking Corp.
1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		1,000,000		999,782
2.077%, 1M LIBOR + 0.200%, 05/30/18 (d)		1,000,000		999,834
Mizuho Bank, Ltd., New York
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		1,000,000		999,916
Norinchukin Bank New York
1.846%, 1M LIBOR + 0.160%, 04/05/18 (d)		1,000,000		999,983
Royal Bank of Canada New York
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		1,000,000		999,859
Societe Generale
1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		500,000		499,958
Sumitomo Mitsui Banking Corp., New York
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		1,000,000		999,992
2.157%, 1M LIBOR + 0.280%, 07/30/18 (d)		1,000,000		999,962
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,000,000		999,911
				10,499,093

BHFTI-260

Brighthouse Funds Trust I

MFS Research International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Commercial Paper—0.4%
Alpine, Ltd.
2.240%, 06/07/18		994,400	$	995,870
Canadian Imperial Bank of Commerce
2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		500,000		499,955
Industrial & Commercial Bank of China, Ltd.
1.960%, 04/20/18		996,788		998,924
Macquarie Bank, Ltd., London
2.020%, 05/16/18		995,006		997,469
Ridgefield Funding Co. LLC
2.040%, 05/21/18		1,492,350		1,495,669
Sheffield Receivables Co.
2.080%, 05/21/18		994,858		997,072
Toyota Motor Credit Corp.
1.967%, 1M LIBOR + 0.190%, 05/11/18 (d)		1,000,000		999,969
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		1,000,000		999,856
				7,984,784
Repurchase Agreements—1.1%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $516,106; collateralized by various Common Stock with an aggregate market value of $550,000.		500,000		500,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,700,331; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $1,734,009.		1,700,000		1,700,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $900,175; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $918,002.		900,000		900,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $900,180; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $918,006.		900,000		900,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,507,159; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,666,068.		1,500,000		1,500,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $1,001,035; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $254,497; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $277,678.		250,000		250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,101,343; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,123,159.		1,101,134		1,101,134
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $726,494; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $757,388.		700,000		700,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $1,530,848; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,006,321; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $800,699; collateralized by various Common Stock with an aggregate market value of $889,808.		800,000		800,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Societe General Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $900,774; collateralized by various Common Stock with an aggregate market value of $1,000,552		900,000		900,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $1,901,153; collateralized by various Common Stock with an aggregate market value of $2,112,275.		1,900,000		1,900,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $5,001,264; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
				21,651,134

BHFTI-261

Brighthouse Funds Trust I

MFS Research International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Time Deposits—0.4%
DNB Bank ASA
1.640%, 04/02/18		2,000,000	$	2,000,000
DZ Bank AG
1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York
1.640%, 04/02/18		2,000,000		2,000,000
Svenska Handelsbanken AB
1.640%, 04/02/18		2,000,000		2,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $48,136,582)				48,135,011
Total Investments—102.5% (Cost $1,637,531,547)				1,978,091,493
Other assets and liabilities (net)—(2.5)%				(47,889,736	)
Net Assets—100.0%			$	1,930,201,757

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $46,460,460 and the collateral received consisted of cash in the amount of $48,124,536. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Banks		11.2
Pharmaceuticals		7.7
Chemicals		7.7
Insurance		5.2
Oil, Gas & Consumable Fuels		5.2
IT Services		4.7
Food Products		4.4
Capital Markets		3.7
Machinery		3.3
Electrical Equipment		2.9

Glossary of Abbreviations

Other Abbreviations

(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-262

Brighthouse Funds Trust I

MFS Research International Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	70,330,992		$	—	$	70,330,992
Austria		—		22,514,420			—		22,514,420
Belgium		—		24,113,562			—		24,113,562
Brazil		10,449,113		—			—		10,449,113
Canada		32,338,504		—			—		32,338,504
China		25,762,976		11,848,368			—		37,611,344
Denmark		—		47,324,190			—		47,324,190
France		—		169,171,580			—		169,171,580
Germany		—		179,158,000			—		179,158,000
Hong Kong		—		63,096,607			—		63,096,607
India		15,183,573		—			—		15,183,573
Ireland		—		24,243,264			—		24,243,264
Israel		20,541,192		—			—		20,541,192
Italy		—		48,472,614			—		48,472,614
Japan		—		353,817,622			—		353,817,622
Malaysia		—		8,545,573			—		8,545,573
Netherlands		—		31,677,420			—		31,677,420
Norway		—		12,634,251			—		12,634,251
Portugal		—		13,848,531			—		13,848,531
South Korea		—		21,381,283			—		21,381,283
Spain		—		63,946,357			—		63,946,357
Sweden		—		17,396,267			—		17,396,267
Switzerland		—		239,704,000			—		239,704,000
Taiwan		6,000,564		22,509,381			—		28,509,945
Thailand		13,515,497		—			—		13,515,497
United Kingdom		—		253,190,371			—		253,190,371
United States		82,228,092		—			—		82,228,092
Total Common Stocks		206,019,511		1,698,924,653			—		1,904,944,164
Total Short-Term Investment*		—		25,012,318			—		25,012,318
Total Securities Lending Reinvestments*		—		48,135,011			—		48,135,011
Total Investments	$	206,019,511	$	1,772,071,982		$	—	$	1,978,091,493
Collateral for Securities Loaned (Liability)	$	—	$	(48,124,536	)	$	—	$	(48,124,536	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $16,947,100 were due to the application of a systematic fair valuation model factor.

BHFTI-263

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—95.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—1.1%
HEICO Corp. - Class A		169,895	$	12,054,050
Biotechnology—1.9%
Alnylam Pharmaceuticals, Inc. (a) (b)		95,881		11,419,427
Bluebird Bio, Inc. (a)		14,069		2,402,282
Editas Medicine, Inc. (a)		84,590		2,804,158
Intellia Therapeutics, Inc. (a) (b)		114,218		2,408,858
Intrexon Corp. (a) (b)		180,676		2,769,763
				21,804,488
Commercial Services & Supplies—5.0%
Copart, Inc. (a)		874,130		44,519,441
Rollins, Inc.		239,725		12,233,167
				56,752,608
Construction Materials—3.1%
Martin Marietta Materials, Inc.		87,530		18,144,969
Vulcan Materials Co.		155,420		17,744,301
				35,889,270
Electronic Equipment, Instruments & Components—1.6%
Cognex Corp. (b)		341,123		17,734,985
Health Care Equipment & Supplies—5.3%
DexCom, Inc. (a) (b)		521,272		38,657,532
Penumbra, Inc. (a) (b)		185,165		21,414,332
				60,071,864
Health Care Providers & Services—4.9%
HealthEquity, Inc. (a) (b)		922,769		55,864,435
Health Care Technology—12.9%
athenahealth, Inc. (a)		505,051		72,237,445
Veeva Systems, Inc. - Class A (a)		1,032,272		75,376,501
				147,613,946
Hotels, Restaurants & Leisure—2.8%
Shake Shack, Inc. - Class A (a) (b)		774,032		32,222,952
Internet & Direct Marketing Retail—3.7%
Overstock.com, Inc. (a) (b)		512,578		18,580,953
TripAdvisor, Inc. (a)		303,216		12,398,502
Wayfair, Inc. - Class A (a)		166,408		11,237,532
				42,216,987
Internet Software & Services—24.6%
ANGI Homeservices, Inc. - Class A (a) (b)		3,016,351		40,962,047
Coupa Software, Inc. (a) (b)		651,088		29,702,635
Dropbox, Inc. - Class B (a) (c) (e)		341,366		9,600,919
GrubHub, Inc. (a) (b)		131,003		13,292,874
Match Group, Inc. (a) (b)		313,805		13,945,494
MercadoLibre, Inc.		59,708		21,279,334
Shopify, Inc. - Class A (a) (b)		129,121		16,087,185
Internet Software & Services—(Continued)
SurveyMonkey, Inc. (a) (c) (d) (e)		303,799		1,977,732
Twitter, Inc. (a) (b)		2,291,530		66,477,285
Zillow Group, Inc. - Class C (a) (b)		1,257,495		67,653,231
				280,978,736
IT Services—0.7%
Broadridge Financial Solutions, Inc. (b)		72,137		7,912,708
Life Sciences Tools & Services—5.3%
Illumina, Inc. (a)		254,718		60,220,430
Machinery—2.7%
Fortive Corp.		401,129		31,095,520
Pharmaceuticals—0.3%
Nektar Therapeutics (a)		28,648		3,044,136
Software—19.5%
Atlassian Corp. plc - Class A (a)		218,017		11,755,477
Autodesk, Inc. (a)		105,394		13,235,379
Constellation Software, Inc.		27,619		18,739,589
Guidewire Software, Inc. (a) (b)		144,927		11,714,449
ServiceNow, Inc. (a)		253,418		41,928,008
Snap, Inc. - Class A (a) (b)		1,095,304		17,382,474
Splunk, Inc. (a) (b)		110,730		10,894,725
Take-Two Interactive Software, Inc. (a)		572,166		55,946,391
Workday, Inc. - Class A (a) (b)		326,243		41,468,748
				223,065,240
Trading Companies & Distributors—0.2%
Watsco, Inc.		13,420		2,428,617
Total Common Stocks (Cost $930,857,419)				1,090,970,972
Convertible Preferred Stock—1.6%
Internet Software & Services—1.6%
Airbnb, Inc. - Series D (a) (c) (d) (e) (Cost $7,659,587)		188,136		18,960,346
Preferred Stocks—0.7%
Internet & Direct Marketing Retail—0.5%
Flipkart Online Pvt., Ltd. - Series D , (a) (c) (d) (e)		60,812		5,435,376
Software—0.2%
Palantir Technologies, Inc. - Series G , (a) (c) (d) (e)		541,563		1,846,731
Palantir Technologies, Inc. - Series H , (a) (c) (d) (e)		174,289		594,325
Palantir Technologies, Inc. - Series H-1 , (a) (c) (d) (e)		174,289		594,325
				3,035,381
Total Preferred Stocks (Cost $4,277,687)				8,470,757

BHFTI-264

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investment—2.5%

Security Description	Principal Amount*		Value
Repurchase Agreement—2.5%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $29,031,244; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $29,610,369.		29,029,308	$	29,029,308
Total Short-Term Investments (Cost $29,029,308)				29,029,308
Securities Lending Reinvestments (f)—27.0%
Certificates of Deposit—16.1%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (g)		5,000,000		4,999,650
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (g)		8,000,000		7,996,512
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (g)		8,000,000		7,999,408
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (g)		5,000,000		5,000,120
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (g)		7,500,000		7,499,760
Chiba Bank, Ltd., New York 1.740%, 04/11/18		5,000,000		4,999,615
China Construction Bank 1.950%, 04/20/18		7,000,000		6,999,272
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (g)		9,000,000		8,998,425
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (g)		7,000,000		7,000,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (g)		8,000,000		7,998,872
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (g)		5,000,000		4,999,440
1.976%, 1M LIBOR + 0.190%, 04/16/18 (g)		7,500,000		7,499,685
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (g)		2,000,000		1,999,564
1.976%, 1M LIBOR + 0.190%, 04/16/18 (g)		6,000,000		5,999,634
2.077%, 1M LIBOR + 0.200%, 05/30/18 (g)		1,000,000		999,834
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (g)		4,000,000		4,000,088
2.008%, 1M LIBOR + 0.200%, 04/18/18 (g)		2,000,000		1,999,972
2.077%, 1M LIBOR + 0.200%, 05/29/18 (g)		3,000,000		2,999,748
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (g)		2,000,000		1,999,828
2.220%, 06/11/18		3,000,000		3,000,498
Norinchukin Bank New York 2.061%, 1M LIBOR + 0.200%, 07/23/18 (g)		6,000,000		5,997,132
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/06/18		3,500,000		3,500,347
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (g)		12,000,000		11,977,080
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (g)		7,500,000		7,499,377
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (g)		4,000,000		3,999,616
2.250%, 08/21/18		4,000,000		3,998,320
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (g)		3,500,000		3,497,375
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (g)		5,000,000		4,999,820
1.930%, 1M LIBOR + 0.190%, 04/12/18 (g)		7,500,000		7,499,677
2.000%, 05/21/18		1,000,000		1,000,005
2.010%, 1M LIBOR + 0.270%, 09/10/18 (g)		3,000,000		2,999,103
2.062%, 1M LIBOR + 0.190%, 04/26/18 (g)		3,000,000		2,999,976
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (g)		6,000,000		5,999,832
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (g)		5,000,000		4,999,925
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (g)		8,000,000		7,999,288
				183,956,798
Commercial Paper—2.8%
Antalis S.A. 2.150%, 06/05/18		1,989,131		1,992,314
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (g)		1,000,000		999,909
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		6,977,514		6,992,468
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (g)		4,000,000		3,998,576
Macquarie Bank, Ltd., London 2.020%, 05/16/18		7,960,049		7,979,752
Ridgefield Funding Co. LLC 2.018%, 1M LIBOR + 0.210%, 05/17/18 (g)		5,000,000		4,999,280
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (g)		5,000,000		4,999,845
				31,962,144
Repurchase Agreements—7.9%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,600,311; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $1,632,004.		1,600,000		1,600,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $2,000,389; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $2,040,011.		2,000,000		2,000,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,500,300; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,530,010.		1,500,000		1,500,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,507,159; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,666,068.		1,500,000		1,500,000

BHFTI-265

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (f)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $7,007,245; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $7,774,984.		7,000,000	$	7,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $6,107,922; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $6,664,272.		6,000,000		6,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $8,594,077; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $8,764,311.		8,592,445		8,592,445
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,594,620; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,704,958.		2,500,000		2,500,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $10,205,656; collateralized by various Common Stock with an aggregate market value of $11,000,001.		10,000,000		10,000,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $4,526,795; collateralized by various Common Stock with an aggregate market value of $4,951,597.		4,500,000		4,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $4,003,494; collateralized by various Common Stock with an aggregate market value of $4,449,040.		4,000,000		4,000,000
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $6,943,614; collateralized by various Common Stock with an aggregate market value of $7,674,593.		6,900,000		6,900,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $5,005,222; collateralized by various Common Stock with an aggregate market value of $5,561,300.		5,000,000		5,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $2,000,396; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $9,005,460; collateralized by various Common Stock with an aggregate market value of $10,005,515.		9,000,000		9,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $5,004,297; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $5,001,264; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $8,010,111; collateralized by various Common Stock with an aggregate market value of $8,893,791.		8,000,000		8,000,000
				90,092,445
Time Deposit—0.2%
Svenska Handelsbanken AB 1.640%, 04/02/18		2,000,000		2,000,000
Total Securities Lending Reinvestments (Cost $308,058,190)				308,011,387
Total Purchased Options—0.1% (h) (Cost $3,282,443)				573,760
Total Investments—127.5% (Cost $1,283,164,634)				1,456,016,530
Other assets and liabilities (net)—(27.5)%				(314,348,444	)
Net Assets—100.0%			$	1,141,668,086

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $303,245,176 and the collateral received consisted of cash in the amount of $308,019,139. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent 3.4% of net assets.
(d)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(e)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $39,009,754, which is 3.4% of net assets. See details shown in the Restricted Securities table that follows.
(f)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.

BHFTI-266

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(g)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset-
	and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(h)	For a breakout of open positions, see details shown in the Purchased Options table that follows.

Restricted Securities	Acquisition Date		Shares		Cost		Value
Airbnb, Inc. - Series D, Zero Coupon,		07/25/2014		188,136	$	7,659,587	$	18,960,346
Dropbox, Inc. - Class B		05/01/2012		341,366		4,635,366		9,600,919
Flipkart Online Pvt., Ltd. - Series D		10/04/2013		60,812		1,396,995		5,435,376
Palantir Technologies, Inc. - Series G		07/19/2012		541,563		1,657,183		1,846,730
Palantir Technologies, Inc. - Series H		10/25/2013		174,289		611,755		594,326
Palantir Technologies, Inc. - Series H-1		10/25/2013		174,289		611,754		594,325
SurveyMonkey, Inc.		11/25/2014		303,799		4,997,494		1,977,732
							$	39,009,754

Purchased Options

Currency Options	Strike Price		Expiration Date		Counterparty	Number of Contracts		Notional Amount		Premiums Paid		Market Value		Unrealized Depreciation
USD Call/CNH Put		CNH 7.550		08/16/18	RBS		198,324,093		198,324,093	$	1,051,118	$	5,355		(1,045,763	)
USD Call/CNH Put		CNH 7.520		11/02/18	RBS		261,401,011		261,401,011		1,082,200		87,308		(994,892	)
USD Call/CNH Put		CNH 7.161		01/18/19	RBS		264,775,437		264,775,437		1,149,125		481,097		(668,029	)
Totals										$	3,282,443	$	573,760	$	(2,708,684	)

Currencies

(CNH) —	Chinese Renminbi
(USD) —	U.S. Dollar

Counterparties

(RBS) — Royal Bank of Scotland plc

Index Abbreviation

(FEDEFF PRV) —	Effective Federal Funds Rate
(LIBOR) —	London InterBank Offered Rate

BHFTI-267

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
Aerospace & Defense	$	12,054,050	$	—		$	—	$	12,054,050
Biotechnology		21,804,488		—			—		21,804,488
Commercial Services & Supplies		56,752,608		—			—		56,752,608
Construction Materials		35,889,270		—			—		35,889,270
Electronic Equipment, Instruments & Components		17,734,985		—			—		17,734,985
Health Care Equipment & Supplies		60,071,864		—			—		60,071,864
Health Care Providers & Services		55,864,435		—			—		55,864,435
Health Care Technology		147,613,946		—			—		147,613,946
Hotels, Restaurants & Leisure		32,222,952		—			—		32,222,952
Internet & Direct Marketing Retail		42,216,987		—			—		42,216,987
Internet Software & Services		269,400,085		9,600,919			1,977,732		280,978,736
IT Services		7,912,708		—			—		7,912,708
Life Sciences Tools & Services		60,220,430		—			—		60,220,430
Machinery		31,095,520		—			—		31,095,520
Pharmaceuticals		3,044,136		—			—		3,044,136
Software		223,065,240		—			—		223,065,240
Trading Companies & Distributors		2,428,617		—			—		2,428,617
Total Common Stocks		1,079,392,321		9,600,919			1,977,732		1,090,970,972
Total Convertible Preferred Stock*		—		—			18,960,346		18,960,346
Total Preferred Stocks*		—		—			8,470,757		8,470,757
Total Short-Term Investment*		—		29,029,308			—		29,029,308
Total Securities Lending Reinvestments*		—		308,011,387			—		308,011,387
Total Purchased Options*		—		573,760			—		573,760
Total Investments	$	1,079,392,321	$	347,215,374		$	29,408,835	$	1,456,016,530
Collateral for Securities Loaned (Liability)	$	—	$	(308,019,139	)	$	—	$	(308,019,139	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 3 to Level 2 in the amount of $5,996,094 were due to the resumption of trading activity which resulted in the availability of significant observable inputs.

BHFTI-268

Brighthouse Funds Trust I

Morgan Stanley Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Investments in Securities	Balance as of December 31, 2017		Change in Unrealized Appreciation (Depreciation)			Transfer Out			Balance as of March 31, 2018		Change in Unrealized Appreciation (Depreciation) from Investments Held at March 31, 2018
Common Stocks
Internet Software & Services	$	7,399,635	$	(33,418	)	$	(5,388,485	)	$	1,977,732	$	(33,418	)
Convertible Preferred Stocks
Internet Software & Services		19,948,060		(987,714	)		—			18,960,346		(987,714	)
Preferred Stocks
Internet & Direct Marketing Retail		5,358,145		77,231			—			5,435,376		77,231
Internet Software & Services		607,609		—			(607,609	)		—		—
Software		3,035,381		—			—			3,035,381		—
Total	$	36,348,830	$	(943,901	)	$	(5,996,094	)	$	29,408,835	$	(943,901	)

	Fair Value at March 31, 2018		Valuation Technique(s)	Unobservable Input	Range		Weighted Average	Relationship Between Fair Value and Input; if input value increases then Fair Value:
Common Stock
Internet Software & Services	$	1,977,732	Discounted Cash Flow	Weighted Average Cost of Capital	15.50%	17.50%	16.50%		Decrease
				Perpetual Growth Rate	3.00%	4.00%	3.50%		Increase
			Comparable Company Analysis	Enterprise Value/Revenue	4.6x	4.6x	4.6x		Increase
				Discount for Lack of Marketability	20.00%	20.00%	20.00%		Decrease
Preferred Stocks
Internet & Direct Marketing Retail		5,435,376	Market Transaction Method	Precedent Transaction	$88.11	$88.11	$88.11		Increase
			Discounted Cash Flow	Weighted Average Cost of Capital	17.50%	19.50%	18.00%		Decrease
				Perpetual Growth Rate	3.50%	4.50%	4.00%		Increase
			Comparable Company Analysis	Enterprise Value/Revenue	2.3x	2.3x	2.3x		Increase
				Discount for Lack of Marketability	20.00%	20.00%	20.00%		Decrease
Software		3,035,381	Discounted Cash Flow	Weighted Average Cost of Capital	17.50%	19.50%	18.50%		Decrease
				Perpetual Growth Rate	3.00%	4.00%	3.50%		Increase
			Comparable Company Analysis	Enterprise Value/Revenue	9.2x	9.2x	9.2x		Increase
				Discount for Lack of Marketability	20.00%	20.00%	20.00%		Decrease
Convertible Preferred Stocks
Internet Software & Services		18,960,346	Discounted Cash Flow	Weighted Average Cost of Capital	14.50%	16.50%	15.50%		Decrease
				Perpetual Growth Rate	3.00%	4.00%	3.50%		Increase
			Comparable Company Analysis	Enterprise Value/Revenue	10.3x	10.3x	10.3x		Increase
				Discount for Lack of Marketability	20.00%	20.00%	20.00%		Decrease

BHFTI-269

Brighthouse Funds Trust I

Oppenheimer Global Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—97.2% of Net Assets

Security Description	Shares		Value
China—2.3%
Baidu, Inc. (ADR) (a)		40,850	$	9,117,312
JD.com, Inc. (ADR) (a) (b)		590,431		23,906,551
				33,023,863
Denmark—0.7%
FLSmidth & Co. A/S		146,762		9,485,928
France—9.6%
Airbus SE		411,142		47,570,643
Kering		62,214		29,831,293
LVMH Moet Hennessy Louis Vuitton SE		136,647		42,140,425
Societe Generale S.A.		323,459		17,597,879
				137,140,240
Germany—7.1%
Allianz SE		116,120		26,242,469
Bayer AG		144,957		16,390,736
Linde AG (a)		63,241		13,313,352
SAP SE		284,941		29,817,945
Siemens AG		124,511		15,881,396
				101,645,898
India—2.6%
DLF, Ltd.		8,611,745		26,785,630
ICICI Bank, Ltd. (ADR)		1,226,309		10,852,835
				37,638,465
Italy—0.3%
Brunello Cucinelli S.p.A.		134,634		4,231,998
Japan—15.4%
Capcom Co., Ltd.		364,000		8,438,559
Dai-ichi Life Holdings, Inc.		923,000		17,136,569
FANUC Corp.		51,000		12,979,942
Keyence Corp.		50,500		31,609,724
Kyocera Corp.		246,200		13,955,702
Minebea Mitsumi, Inc.		317,000		6,836,342
Murata Manufacturing Co., Ltd.		175,200		24,184,806
Nidec Corp.		243,400		37,336,545
Nintendo Co., Ltd.		36,600		16,320,565
Omron Corp.		252,800		14,835,713
Renesas Electronics Corp. (a)		391,000		3,943,864
Suzuki Motor Corp. (b)		274,000		14,874,126
TDK Corp.		189,000		16,848,655
				219,301,112
Spain—2.1%
Banco Bilbao Vizcaya Argentaria S.A.		971,483		7,691,668
Industria de Diseno Textil S.A.		708,075		22,192,572
				29,884,240
Sweden—1.2%
Assa Abloy AB - Class B		816,159		17,720,306
Switzerland—3.0%
Credit Suisse Group AG (a)		824,601		13,836,349
Roche Holding AG		28,889		6,625,978
UBS Group AG (a)		1,241,982		21,869,050
				42,331,377
United Kingdom—5.9%
Circassia Pharmaceuticals plc (a)		2,218,564		2,666,315
Earthport plc (a)		8,019,017		1,262,968
International Consolidated Airlines Group S.A.		1,455,210		12,568,474
Prudential plc		1,031,963		25,796,321
TechnipFMC plc		420,794		12,255,924
Unilever plc		545,106		30,289,757
				84,839,759
United States—47.0%
3M Co.		93,140		20,446,093
ACADIA Pharmaceuticals, Inc. (a) (b)		291,450		6,548,881
Adobe Systems, Inc. (a)		183,820		39,719,826
Aetna, Inc.		209,350		35,380,150
Alphabet, Inc. - Class A (a)		78,050		80,948,777
AnaptysBio, Inc. (a)		70,200		7,306,416
Anthem, Inc.		131,990		28,998,203
Biogen, Inc. (a)		44,440		12,168,561
BioMarin Pharmaceutical, Inc. (a)		65,710		5,327,110
Bluebird Bio, Inc. (a) (b)		51,900		8,861,925
Blueprint Medicines Corp. (a) (b)		108,180		9,920,106
Centene Corp. (a)		99,140		10,595,092
Citigroup, Inc.		474,140		32,004,450
Colgate-Palmolive Co.		426,370		30,562,202
Equifax, Inc.		65,610		7,729,514
Facebook, Inc. - Class A (a)		190,220		30,395,254
FNF Group		280,310		11,218,006
Gilead Sciences, Inc.		161,380		12,166,438
GlycoMimetics, Inc. (a)		168,240		2,730,535
Goldman Sachs Group, Inc. (The)		92,460		23,286,976
International Game Technology plc		431,881		11,544,179
Intuit, Inc.		179,460		31,109,391
Ionis Pharmaceuticals, Inc. (a) (b)		192,740		8,495,979
Loxo Oncology, Inc. (a) (b)		70,280		8,108,204
MacroGenics, Inc. (a) (b)		265,040		6,668,406
Maxim Integrated Products, Inc.		535,630		32,255,639
Newell Brands, Inc. (b)		581,380		14,813,562
PayPal Holdings, Inc. (a)		283,366		21,498,978
S&P Global, Inc.		197,640		37,761,098
Sage Therapeutics, Inc. (a) (b)		92,580		14,911,861
Shire plc		119,126		5,938,339
Tiffany & Co. (b)		174,970		17,087,570
United Parcel Service, Inc. - Class B		133,510		13,973,157
Walt Disney Co. (The)		183,710		18,451,832
Zimmer Biomet Holdings, Inc. (b)		117,490		12,811,110
				671,743,820
Total Common Stocks (Cost $942,970,266)				1,388,987,006

BHFTI-270

Brighthouse Funds Trust I

Oppenheimer Global Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Preferred Stock—1.8%

Security Description	Shares/ Principal Amount*		Value
Germany—1.8%
Bayerische Motoren Werke (BMW) AG (Cost $19,938,641)		272,937	$	25,585,055
Short-Term Investment—0.6%
Repurchase Agreement—0.6%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $8,465,150; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $8,634,936.		8,464,586		8,464,586
Total Short-Term Investments (Cost $8,464,586)				8,464,586
Securities Lending Reinvestments (c)—8.4%
Certificates of Deposit—3.0%
Banco Del Estado De Chile New York
1.985%, 1M LIBOR + 0.220%, 05/14/18 (d)		1,500,000		1,499,895
Bank of Nova Scotia
2.482%, 3M LIBOR + 0.280%, 03/20/19 (d)		2,000,000		1,999,128
Barclays Capital, plc
1.956%, 1M LIBOR + 0.270%, 08/03/18 (d)		500,000		499,963
BNP Paribas New York
1.886%, 1M LIBOR + 0.200%, 05/04/18 (d)		3,000,000		3,000,072
Canadian Imperial Bank of Commerce
1.920%, 1M LIBOR + 0.170%, 04/13/18 (d)		1,500,000		1,499,952
China Construction Bank
1.950%, 04/20/18		3,000,000		2,999,688
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,750,000		1,750,000
Credit Agricole S.A.
2.032%, 1M LIBOR + 0.330%, 10/09/18 (d)		2,000,000		1,999,718
Credit Suisse AG New York
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		2,500,000		2,499,895
Mitsubishi UFJ Trust and Banking Corp.
1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		1,000,000		999,782
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		1,500,000		1,499,909
2.077%, 1M LIBOR + 0.200%, 05/30/18 (d)		1,500,000		1,499,751
Mizuho Bank, Ltd., New York
2.008%, 1M LIBOR + 0.200%, 04/18/18 (d)		2,000,000		1,999,972
2.077%, 1M LIBOR + 0.200%, 05/29/18 (d)		1,500,000		1,499,874
Norinchukin Bank New York
2.061%, 1M LIBOR + 0.200%, 07/23/18 (d)		1,000,000		999,522
Oversea-Chinese Banking Corp., Ltd.
2.150%, 06/06/18		1,000,000		1,000,099
Royal Bank of Canada New York
1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		1,000,000		998,090
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		2,000,000		1,999,718
Standard Chartered plc
2.154%, 1M LIBOR + 0.300%, 08/22/18 (d)		1,000,000		999,904
2.250%, 08/21/18		1,500,000		1,499,370
Certificates of Deposit—(Continued)
Sumitomo Mitsui Banking Corp., London
2.038%, 1M LIBOR + 0.230%, 05/17/18 (d)		2,500,000	$	2,498,125
Sumitomo Mitsui Banking Corp., New York
2.000%, 05/21/18		1,000,000		1,000,005
2.010%, 1M LIBOR + 0.270%, 09/10/18 (d)		2,000,000		1,999,402
Svenska Handelsbanken AB
2.027%, 1M LIBOR + 0.150%, 04/30/18 (d)		2,000,000		1,999,944
Wells Fargo Bank N.A.
1.835%, 3M LIBOR + 0.130%, 07/11/18 (d)		1,750,000		1,749,974
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,500,000		1,499,866
				43,491,618
Commercial Paper—0.5%
Industrial & Commercial Bank of China, Ltd.
1.960%, 04/20/18		2,990,363		2,996,772
ING Funding LLC
1.930%, 1M LIBOR + 0.190%, 08/10/18 (d)		1,000,000		999,644
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		3,000,000		2,999,568
				6,995,984
Repurchase Agreements—3.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $2,270,864; collateralized by various Common Stock with an aggregate market value of $2,420,000.		2,200,000		2,200,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $7,501,458; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $7,650,041.		7,500,000		7,500,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,300,253; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $1,326,003.		1,300,000		1,300,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,200,240; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,224,008.		1,200,000		1,200,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $602,864; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $666,427.		600,000		600,000

BHFTI-271

Brighthouse Funds Trust I

Oppenheimer Global Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $3,003,105; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,332,136.		3,000,000	$	3,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $254,497; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $277,678.		250,000		250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,299,908; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,325,657.		1,299,661		1,299,661
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $1,245,418; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $1,298,380.		1,200,000		1,200,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $1,530,848; collateralized by various Common Stock with an aggregate market value of $1,650,000.		1,500,000		1,500,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $502,977; collateralized by various Common Stock with an aggregate market value of $550,177.		500,000		500,000
NBC Global Finance, Ltd.
Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $2,415,170; collateralized by various Common Stock with an aggregate market value of $2,669,424.		2,400,000		2,400,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $1,000,874; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $2,000,396; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $15,012,892; collateralized by various Common Stock with an aggregate market value of $16,675,859.		15,000,000		15,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $3,003,792; collateralized by various Common Stock with an aggregate market value of $3,335,172.		3,000,000		3,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $7,604,611; collateralized by various Common Stock with an aggregate market value of $8,449,102.		7,600,000		7,600,000
				52,549,661
Time Deposits—1.2%
ABN AMRO Bank NV
1.680%, 04/02/18		2,000,000		2,000,000
Australia New Zealand Bank
1.670%, 04/02/18		2,000,000		2,000,000
DNB Bank ASA
1.640%, 04/02/18		4,000,000		4,000,000
DZ Bank AG
1.670%, 04/02/18		4,000,000		4,000,000
Nordea Bank New York
1.640%, 04/02/18		4,000,000		4,000,000
Svenska Handelsbanken AB
1.640%, 04/02/18		2,000,000		2,000,000
				18,000,000
Total Securities Lending Reinvestments (Cost $121,046,721)				121,037,263
Total Investments—108.0% (Cost $1,092,420,214)				1,544,073,910
Other assets and liabilities (net)—(8.0)%				(114,975,913	)
Net Assets—100.0%			$	1,429,097,997

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $119,248,235 and the collateral received consisted of cash in the amount of $121,040,025. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.

BHFTI-272

Brighthouse Funds Trust I

Oppenheimer Global Equity Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Ten Largest Industries as of March 31, 2018 (Unaudited)	% of Net Assets
Software		8.8
Internet Software & Services		8.4
Biotechnology		7.8
Electronic Equipment, Instruments & Components		7.1
Capital Markets		6.8
Insurance		5.6
Textiles, Apparel & Luxury Goods		5.3
Health Care Providers & Services		5.3
Banks		4.8
Aerospace & Defense		3.3

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Common Stocks
China	$	33,023,863	$	—		$	—	$	33,023,863
Denmark		—		9,485,928			—		9,485,928
France		—		137,140,240			—		137,140,240
Germany		—		101,645,898			—		101,645,898
India		10,852,835		26,785,630			—		37,638,465
Italy		—		4,231,998			—		4,231,998
Japan		—		219,301,112			—		219,301,112
Spain		—		29,884,240			—		29,884,240
Sweden		—		17,720,306			—		17,720,306
Switzerland		—		42,331,377			—		42,331,377
United Kingdom		12,255,924		72,583,835			—		84,839,759
United States		665,805,481		5,938,339			—		671,743,820
Total Common Stocks		721,938,103		667,048,903			—		1,388,987,006
Total Preferred Stock*		—		25,585,055			—		25,585,055
Total Short-Term Investment*		—		8,464,586			—		8,464,586
Total Securities Lending Reinvestments*		—		121,037,263			—		121,037,263
Total Investments	$	721,938,103	$	822,135,807		$	—	$	1,544,073,910
Collateral for Securities Loaned (Liability)	$	—	$	(121,040,025	)	$	—	$	(121,040,025	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 2 to Level 1 in the amount of $13,646,019 were due to the discontinuation of a systematic fair valuation model factor.

BHFTI-273

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—19.8% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Sovereign—19.8%
Deutsche Bundesrepublik Inflation Linked Bond
0.100%, 04/15/23 (EUR) (a)		6,955,634	$	9,234,624
France Government Bond OAT
0.250%, 07/25/24 (EUR) (a)		8,349,561		11,309,552
Italy Buoni Poliennali Del Tesoro
2.350%, 09/15/24 (144A) (EUR) (a)		4,456,395		6,397,447
United Kingdom Gilt Inflation Linked Bond
0.625%, 03/22/40 (GBP) (a)		9,307,573		21,143,892
Total Foreign Government (Cost $41,558,446)				48,085,515
Mutual Fund—16.7%
Investment Company Security—16.7%
iShares iBoxx $ Investment Grade Corporate Bond ETF (Cost $41,186,714)		345,645		40,575,267
Common Stocks—14.2%
Aerospace & Defense—0.2%
Arconic, Inc.		741		17,073
BAE Systems plc		4,240		34,634
Boeing Co. (The)		92		30,165
Bombardier, Inc. - Class B (b)		9,730		28,321
CAE, Inc.		2,768		51,521
Elbit Systems, Ltd.		530		63,866
General Dynamics Corp.		86		18,997
Harris Corp.		173		27,901
L3 Technologies, Inc.		98		20,384
Leonardo S.p.A.		1,580		18,274
Lockheed Martin Corp.		59		19,938
Northrop Grumman Corp.		68		23,740
Raytheon Co.		84		18,129
Rockwell Collins, Inc.		177		23,868
Safran S.A.		295		31,262
Thales S.A.		286		34,850
TransDigm Group, Inc.		85		26,090
United Technologies Corp.		153		19,250
				508,263
Air Freight & Logistics—0.1%
C.H. Robinson Worldwide, Inc.		211		19,773
Deutsche Post AG		629		27,506
Expeditors International of Washington, Inc.		329		20,826
FedEx Corp.		94		22,570
Yamato Holdings Co., Ltd.		800		20,112
				110,787
Airlines—0.1%
Alaska Air Group, Inc.		180		11,153
American Airlines Group, Inc.		353		18,342
Delta Air Lines, Inc.		247		13,538
Airlines—(Continued)
International Consolidated Airlines Group S.A. - Class DI		2,843		24,605
Ryanair Holdings plc (ADR) (b)		645		79,238
Singapore Airlines, Ltd.		4,000		33,219
Southwest Airlines Co.		310		17,757
United Continental Holdings, Inc. (b)		260		18,062
				215,914
Auto Components—0.1%
Aptiv plc		206		17,504
BorgWarner, Inc.		411		20,645
GKN plc		4,775		31,046
Linamar Corp.		505		27,587
Magna International, Inc.		703		39,598
Nokian Renkaat Oyj		1,177		53,537
				189,917
Automobiles—0.1%
Daimler AG		344		29,232
Ferrari NV		424		51,071
Fiat Chrysler Automobiles NV (b)		2,298		47,118
General Motors Co.		445		16,171
Honda Motor Co., Ltd.		300		10,417
				154,009
Banks—0.4%
ABN AMRO Group NV		1,412		42,571
AIB Group plc		725		4,372
Banco Bilbao Vizcaya Argentaria S.A.		3,372		26,698
Bank Hapoalim B.M.		6,281		43,185
Bank Leumi Le-Israel B.M.		6,506		39,295
Bank of America Corp.		695		20,843
Bank of East Asia, Ltd. (The)		6,400		25,690
Bank of Ireland Group plc (b)		5,382		47,174
Bank of Montreal		331		25,003
Bank of Nova Scotia (The)		409		25,194
Bankinter S.A.		3,025		31,128
BB&T Corp.		363		18,891
BOC Hong Kong Holdings, Ltd.		2,000		9,808
Canadian Imperial Bank of Commerce		295		26,039
Comerica, Inc.		216		20,721
Commonwealth Bank of Australia		245		13,684
Danske Bank A/S		577		21,564
DBS Group Holdings, Ltd.		600		12,657
DNB ASA		2,129		41,539
Erste Group Bank AG		552		27,761
Fifth Third Bancorp		693		22,003
Fukuoka Financial Group, Inc.		5,000		27,434
Hang Seng Bank, Ltd.		1,000		23,314
Huntington Bancshares, Inc.		1,176		17,758
ING Groep NV		1,800		30,402
Intesa Sanpaolo S.p.A. - Risparmio Shares		6,879		26,069
Japan Post Bank Co., Ltd.		1,800		24,471
KBC Groep NV		400		34,866
KeyCorp		1,042		20,371

BHFTI-274

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Banks—(Continued)
Mitsubishi UFJ Financial Group, Inc.		3,700	$	24,557
Mizrahi Tefahot Bank, Ltd.		2,557		48,966
Mizuho Financial Group, Inc.		11,700		21,275
People’s United Financial, Inc.		879		16,402
Raiffeisen Bank International AG (b)		1,007		39,235
Regions Financial Corp.		1,152		21,404
Royal Bank of Canada		347		26,804
Skandinaviska Enskilda Banken AB - Class A		312		3,271
Sumitomo Mitsui Financial Group, Inc.		500		21,202
SunTrust Banks, Inc.		236		16,057
Suruga Bank, Ltd.		900		12,611
Toronto-Dominion Bank (The)		500		28,373
U.S. Bancorp		317		16,009
				1,046,671
Beverages—0.3%
Anheuser-Busch InBev S.A.		432		47,478
Asahi Group Holdings, Ltd.		600		32,281
Brown-Forman Corp. - Class B		771		41,942
Carlsberg A/S - Class B		505		60,347
Coca-Cola Amatil, Ltd.		5,567		37,253
Coca-Cola Co. (The)		653		28,360
Coca-Cola European Partners plc		303		12,623
Constellation Brands, Inc. - Class A		167		38,063
Davide Campari-Milano S.p.A.		4,531		34,341
Diageo plc		882		29,838
Dr Pepper Snapple Group, Inc.		367		43,445
Heineken Holding NV		402		41,452
Heineken NV		359		38,636
Kirin Holdings Co., Ltd.		1,400		37,546
Molson Coors Brewing Co. - Class B		558		42,034
Monster Beverage Corp. (b)		660		37,758
PepsiCo, Inc.		226		24,668
Pernod-Ricard S.A.		257		42,812
Remy Cointreau S.A.		348		49,643
Suntory Beverage & Food, Ltd.		600		29,094
Treasury Wine Estates, Ltd.		3,976		51,925
				801,539
Biotechnology—0.1%
AbbVie, Inc.		271		25,650
Alexion Pharmaceuticals, Inc. (b)		119		13,264
Amgen, Inc.		95		16,196
Biogen, Inc. (b)		61		16,703
Celgene Corp. (b)		136		12,132
CSL, Ltd.		550		66,136
Genmab A/S (b)		125		26,911
Gilead Sciences, Inc.		214		16,133
Grifols S.A.		3,073		87,043
Incyte Corp. (b)		154		12,833
Regeneron Pharmaceuticals, Inc. (b)		31		10,675
Shire plc		597		29,760
Vertex Pharmaceuticals, Inc. (b)		89		14,505
				347,941
Building Products—0.0%
Allegion plc		164		13,988
Assa Abloy AB - Class B		828		17,977
Johnson Controls International plc		346		12,193
				44,158
Capital Markets—0.1%
Bank of New York Mellon Corp. (The)		286		14,738
Cboe Global Markets, Inc.		158		18,028
CME Group, Inc.		120		19,409
Daiwa Securities Group, Inc.		3,000		19,252
Deutsche Boerse AG		304		41,412
E*Trade Financial Corp. (b)		400		22,164
Intercontinental Exchange, Inc.		225		16,317
Invesco, Ltd.		412		13,188
Moody’s Corp.		117		18,872
Northern Trust Corp.		175		18,048
Raymond James Financial, Inc.		184		16,451
T. Rowe Price Group, Inc.		207		22,350
UBS Group AG (b)		1,516		26,694
				266,923
Chemicals—0.7%
Air Liquide S.A.		481		58,980
Air Products & Chemicals, Inc.		274		43,574
Air Water, Inc.		1,400		27,503
Akzo Nobel NV		434		41,029
Albemarle Corp.		342		31,717
Arkema S.A.		326		42,570
CF Industries Holdings, Inc.		1,267		47,804
Chr Hansen Holding A/S		1,123		97,030
Clariant AG (b)		112		2,675
Croda International plc		618		39,658
DowDuPont, Inc.		151		9,620
Eastman Chemical Co.		359		37,903
Ecolab, Inc.		287		39,339
EMS-Chemie Holding AG		59		37,251
FMC Corp.		390		29,862
Frutarom Industries, Ltd.		887		81,538
Givaudan S.A.		20		45,588
International Flavors & Fragrances, Inc.		298		40,799
Israel Chemicals, Ltd.		12,542		53,142
Johnson Matthey plc		683		29,198
JSR Corp.		1,400		31,440
K&S AG		1,438		41,509
Kaneka Corp.		3,000		29,958
Koninklijke DSM NV		655		65,131
Kuraray Co., Ltd.		1,200		20,848
LyondellBasell Industries NV - Class A		401		42,378
Mitsubishi Gas Chemical Co., Inc.		800		19,234
Monsanto Co.		303		35,357
Mosaic Co. (The)		1,738		42,199
Novozymes A/S - B Shares		1,290		66,803
Nutrien, Ltd.		682		32,233
PPG Industries, Inc.		292		32,587
Praxair, Inc.		274		39,538
Sherwin-Williams Co. (The)		95		37,251

BHFTI-275

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Chemicals—(Continued)
Shin-Etsu Chemical Co., Ltd.		300	$	31,188
Sika AG		6		47,029
Solvay S.A.		361		50,194
Sumitomo Chemical Co., Ltd.		4,000		23,128
Symrise AG		638		51,372
Teijin, Ltd.		1,000		19,040
Toray Industries, Inc.		3,000		28,493
Umicore S.A.		1,214		64,403
Yara International ASA		1,630		69,245
				1,757,338
Commercial Services & Supplies—0.1%
Brambles, Ltd.		3,912		30,107
Cintas Corp.		142		24,222
ISS A/S		666		24,714
Republic Services, Inc.		273		18,081
Stericycle, Inc. (b)		397		23,237
Waste Management, Inc.		249		20,946
				141,307
Communications Equipment—0.1%
Cisco Systems, Inc.		486		20,844
F5 Networks, Inc. (b)		201		29,067
Juniper Networks, Inc.		721		17,542
Motorola Solutions, Inc.		189		19,902
Nokia Oyj		14,804		81,831
Telefonaktiebolaget LM Ericsson - B Shares		12,906		81,900
				251,086
Construction & Engineering—0.0%
Boskalis Westminster		622		18,235
Fluor Corp.		307		17,566
Jacobs Engineering Group, Inc.		214		12,658
SNC-Lavalin Group, Inc.		718		31,527
				79,986
Construction Materials—0.1%
CRH plc		1,530		52,019
Fletcher Building, Ltd.		10,732		46,881
HeidelbergCement AG		380		37,336
Imerys S.A.		48		4,668
Martin Marietta Materials, Inc.		154		31,924
Vulcan Materials Co.		291		33,224
				206,052
Consumer Finance—0.0%
Navient Corp.		1,295		16,991
Synchrony Financial		391		13,110
				30,101
Containers & Packaging—0.1%
Amcor, Ltd.		3,544		38,891
Avery Dennison Corp.		416		44,200
Ball Corp.		816		32,403
Containers & Packaging—(Continued)
CCL Industries, Inc. - Class B		819		41,346
International Paper Co.		556		29,707
Sealed Air Corp.		757		32,392
WestRock Co.		609		39,080
				258,019
Distributors—0.0%
Genuine Parts Co.		133		11,949
Jardine Cycle & Carriage, Ltd.		2,000		52,858
LKQ Corp. (b)		423		16,053
				80,860
Diversified Consumer Services—0.0%
Benesse Holdings, Inc.		500		18,176
H&R Block, Inc.		576		14,636
				32,812
Diversified Financial Services—0.1%
Berkshire Hathaway, Inc. - Class B (b)		88		17,554
Groupe Bruxelles Lambert S.A.		35		4,002
Industrivarden AB - C Shares		1,131		26,302
Investor AB - B Shares		527		23,458
Leucadia National Corp.		764		17,366
Mitsubishi UFJ Lease & Finance Co., Ltd.		4,100		24,439
Wendel S.A.		141		22,009
				135,130
Diversified Telecommunication Services—1.2%
AT&T, Inc.		9,396		334,967
BCE, Inc.		1,778		76,511
Bezeq The Israeli Telecommunication Corp., Ltd.		73,892		94,545
BT Group plc		20,318		64,922
CenturyLink, Inc.		25,877		425,159
Deutsche Telekom AG		3,693		60,245
Elisa Oyj		1,913		86,648
HKT Trust & HKT, Ltd.		84,000		105,729
Iliad S.A.		253		52,367
Koninklijke KPN NV		25,129		75,440
Nippon Telegraph & Telephone Corp.		1,800		83,618
Orange S.A.		3,560		60,459
PCCW, Ltd.		178,000		103,272
Proximus SADP		3,105		96,418
Singapore Telecommunications, Ltd.		31,500		81,202
Spark New Zealand, Ltd.		32,587		78,958
Swisscom AG		193		95,718
TDC A/S (b)		12,434		103,145
Telecom Italia S.p.A. (b)		62,166		59,201
Telecom Italia S.p.A. - Risparmio Shares		76,475		63,877
Telefonica Deutschland Holding AG		14,420		67,755
Telefonica S.A.		5,840		57,881
Telenor ASA		4,744		107,900
Telia Co. AB		11,233		52,989
Telstra Corp., Ltd.		31,944		77,505
TELUS Corp.		1,830		64,260
TPG Telecom, Ltd.		14,589		62,064

BHFTI-276

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Diversified Telecommunication Services—(Continued)
Verizon Communications, Inc.		6,221	$	297,488
				2,990,243
Electric Utilities—0.9%
Alliant Energy Corp.		1,376		56,223
American Electric Power Co., Inc.		626		42,937
AusNet Services		35,475		45,943
Chubu Electric Power Co., Inc.		2,300		32,938
Chugoku Electric Power Co., Inc. (The)		5,300		64,627
CK Infrastructure Holdings, Ltd.		11,000		90,409
CLP Holdings, Ltd.		9,500		97,112
Duke Energy Corp.		524		40,594
Edison International		628		39,978
EDP - Energias de Portugal S.A.		19,813		75,344
Electricite de France S.A.		3,815		55,321
Emera, Inc.		1,377		43,565
Endesa S.A.		2,576		56,728
Enel S.p.A.		11,684		71,590
Entergy Corp.		600		47,268
Eversource Energy		791		46,606
Exelon Corp.		1,190		46,422
FirstEnergy Corp.		1,409		47,920
Fortis, Inc.		1,364		46,044
Fortum Oyj		3,905		83,965
HK Electric Investments & HK Electric Investments, Ltd.		82,500		79,775
Hydro One, Ltd.		2,467		40,059
Iberdrola S.A.		7,486		55,061
Kansai Electric Power Co., Inc. (The)		3,200		41,766
Kyushu Electric Power Co., Inc.		4,500		54,358
Mercury NZ, Ltd.		28,837		67,298
NextEra Energy, Inc.		341		55,696
Orsted A/S		1,916		124,750
PG&E Corp.		990		43,491
Pinnacle West Capital Corp.		615		49,077
Power Assets Holdings, Ltd.		7,500		67,154
PPL Corp.		1,294		36,607
Red Electrica Corp. S.A.		1,648		33,947
Southern Co. (The)		892		39,837
SSE plc		3,302		59,180
Terna Rete Elettrica Nazionale S.p.A.		13,306		77,849
Tohoku Electric Power Co., Inc.		4,300		58,427
Tokyo Electric Power Co. Holdings, Inc. (b)		10,700		41,811
Xcel Energy, Inc.		1,128		51,301
				2,208,978
Electrical Equipment—0.1%
ABB, Ltd.		1,108		26,386
Acuity Brands, Inc.		141		19,626
AMETEK, Inc.		263		19,980
Eaton Corp. plc		241		19,258
Emerson Electric Co.		316		21,583
Prysmian S.p.A.		1,058		33,287
Rockwell Automation, Inc.		79		13,762
Siemens Gamesa Renewable Energy S.A.		1,149		18,446
				172,328
Electronic Equipment, Instruments & Components—0.1%
Amphenol Corp. - Class A		286		24,633
Corning, Inc.		679		18,931
FLIR Systems, Inc.		418		20,904
Hamamatsu Photonics KK		900		34,553
Hexagon AB - B Shares		1,675		100,351
Hirose Electric Co., Ltd.		210		29,120
Ingenico Group S.A.		566		46,052
Keyence Corp.		60		37,556
TE Connectivity, Ltd.		255		25,475
				337,575
Energy Equipment & Services—0.1%
Halliburton Co.		527		24,738
Helmerich & Payne, Inc.		506		33,679
John Wood Group plc		2,853		21,642
National Oilwell Varco, Inc.		1,069		39,350
Schlumberger, Ltd.		385		24,940
TechnipFMC plc		1,045		30,775
Tenaris S.A.		3,811		65,887
Transocean, Ltd. (b)		2,112		20,909
				261,920
Equity Real Estate Investment Trusts—0.3%
Alexandria Real Estate Equities, Inc.		140		17,485
American Tower Corp.		81		11,773
Apartment Investment & Management Co. - Class A		320		13,040
AvalonBay Communities, Inc.		72		11,841
CapitaLand Mall Trust		16,900		26,894
Crown Castle International Corp.		132		14,469
Digital Realty Trust, Inc.		95		10,011
Equity Residential		312		19,225
Essex Property Trust, Inc.		49		11,793
Extra Space Storage, Inc.		152		13,279
Federal Realty Investment Trust		179		20,784
Fonciere Des Regions		212		23,407
Gecina S.A.		143		24,855
GGP, Inc.		900		18,414
GPT Group (The)		7,625		27,877
H&R Real Estate Investment Trust		1,522		24,844
HCP, Inc.		366		8,502
Host Hotels & Resorts, Inc.		799		14,893
Kimco Realty Corp.		1,261		18,158
Klepierre		281		11,338
Macerich Co. (The)		190		10,644
Mid-America Apartment Communities, Inc.		203		18,522
Mirvac Group		7,066		11,720
Nippon Prologis REIT, Inc.		7		15,195
ProLogis, Inc.		224		14,110
Public Storage		65		13,025
Realty Income Corp.		243		12,570
Regency Centers Corp.		217		12,799
Scentre Group		5,107		15,086
SL Green Realty Corp.		119		11,523
Suntec Real Estate Investment Trust		23,500		34,064
UDR, Inc.		346		12,325
Ventas, Inc.		163		8,073

BHFTI-277

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—(Continued)
Vicinity Centres		10,867	$	20,198
Vornado Realty Trust		240		16,152
Welltower, Inc.		160		8,709
Weyerhaeuser Co.		560		19,600
				597,197
Food & Staples Retailing—0.4%
Aeon Co., Ltd.		1,800		32,126
Alimentation Couche-Tard, Inc. - Class B		972		43,509
Carrefour S.A.		1,626		33,771
Colruyt S.A.		1,368		75,629
Costco Wholesale Corp.		182		34,294
CVS Health Corp.		375		23,329
Empire Co., Ltd.		3,656		73,384
FamilyMart UNY Holdings Co., Ltd.		400		33,503
George Weston, Ltd.		441		35,503
ICA Gruppen AB		1,498		53,036
J Sainsbury plc		7,199		24,128
Jean Coutu Group PJC, Inc. (The) - Class A		2,399		45,733
Jeronimo Martins SGPS S.A.		2,761		50,352
Koninklijke Ahold Delhaize NV		1,317		31,228
Kroger Co. (The)		1,260		30,164
Loblaw Cos., Ltd.		712		35,972
METRO AG		1,530		27,093
Metro, Inc.		1,203		38,377
Sysco Corp.		505		30,280
Walgreens Boots Alliance, Inc.		395		25,861
Walmart, Inc.		388		34,520
Wesfarmers, Ltd.		1,351		43,349
WM Morrison Supermarkets plc		7,958		23,846
Woolworths Group, Ltd.		2,362		47,871
				926,858
Food Products—0.6%
Ajinomoto Co., Inc.		1,300		23,621
Archer-Daniels-Midland Co.		800		34,696
Associated British Foods plc		716		25,031
Barry Callebaut AG		22		43,003
Campbell Soup Co.		836		36,207
Chocoladefabriken Lindt & Spruengli AG		1		72,733
Chocoladefabriken Lindt & Spruengli AG (Participation Certifcate)		9		55,814
Conagra Brands, Inc.		1,136		41,896
Danone S.A.		490		39,687
General Mills, Inc.		612		27,577
Golden Agri-Resources, Ltd.		341,900		91,623
Hershey Co. (The)		282		27,907
Hormel Foods Corp.		1,248		42,831
J.M. Smucker Co. (The)		352		43,651
Kellogg Co.		573		37,251
Kerry Group plc - Class A		960		97,618
Kikkoman Corp.		500		20,288
Kraft Heinz Co. (The)		369		22,985
Marine Harvest ASA		3,770		75,750
McCormick & Co., Inc.		415		44,152
Mondelez International, Inc. - Class A		663		27,667
Nestle S.A.		374		29,608
Food Products—(Continued)
NH Foods, Ltd.		500		20,618
Nisshin Seifun Group, Inc.		1,800		35,966
Nissin Foods Holdings Co., Ltd.		500		34,797
Orkla ASA		4,184		44,977
Saputo, Inc.		971		31,165
Toyo Suisan Kaisha, Ltd.		900		35,656
Tyson Foods, Inc. - Class A		579		42,377
WH Group, Ltd.		83,500		89,754
Wilmar International, Ltd.		25,100		61,143
Yamazaki Baking Co., Ltd.		1,791		37,551
				1,395,600
Gas Utilities—0.1%
APA Group		6,216		37,745
Gas Natural SDG S.A.		1,368		32,676
Hong Kong & China Gas Co., Ltd.		36,300		74,841
Osaka Gas Co., Ltd.		2,600		51,683
Toho Gas Co., Ltd.		2,400		75,189
Tokyo Gas Co., Ltd.		2,200		58,756
				330,890
Health Care Equipment & Supplies—0.4%
Abbott Laboratories		505		30,260
Arjo AB - B Shares (b)		4,937		14,497
Baxter International, Inc.		327		21,268
Becton Dickinson & Co.		118		25,571
BioMerieux		271		22,377
Boston Scientific Corp. (b)		655		17,895
Cochlear, Ltd.		450		63,141
Coloplast A/S - Class B		670		56,784
ConvaTec Group plc		1,650		4,617
Cooper Cos., Inc. (The)		107		24,483
DENTSPLY SIRONA, Inc.		281		14,137
Edwards Lifesciences Corp. (b)		178		24,835
Essilor International Cie Generale d’Optique S.A.		379		51,161
Fisher & Paykel Healthcare Corp., Ltd.		9,553		91,757
Getinge AB - B Shares		4,937		56,197
Hologic, Inc. (b)		441		16,476
IDEXX Laboratories, Inc. (b)		65		12,440
Intuitive Surgical, Inc. (b)		69		28,485
Koninklijke Philips NV		1,781		68,444
Medtronic plc		184		14,760
Smith & Nephew plc		3,434		64,195
Sonova Holding AG		316		50,228
Straumann Holding AG		36		22,698
Stryker Corp.		116		18,667
Terumo Corp.		800		41,472
Varian Medical Systems, Inc. (b)		180		22,077
William Demant Holding A/S (b)		1,180		43,935
Zimmer Biomet Holdings, Inc.		155		16,901
				939,758
Health Care Providers & Services—0.3%
Aetna, Inc.		147		24,843
Alfresa Holdings Corp.		1,400		31,505

BHFTI-278

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Providers & Services—(Continued)
AmerisourceBergen Corp.		202	$	17,414
Anthem, Inc.		103		22,629
Cardinal Health, Inc.		267		16,736
Centene Corp. (b)		234		25,008
Cigna Corp.		108		18,116
DaVita, Inc. (b)		248		16,353
Envision Healthcare Corp. (b)		481		18,485
Express Scripts Holding Co. (b)		249		17,201
Fresenius Medical Care AG & Co. KGaA		733		74,844
Fresenius SE & Co. KGaA		626		47,816
HCA Healthcare, Inc.		219		21,243
Healthscope, Ltd.		23,317		34,800
Henry Schein, Inc. (b)		196		13,173
Humana, Inc.		79		21,238
Laboratory Corp. of America Holdings (b)		149		24,101
McKesson Corp.		99		13,946
Mediclinic International plc		7,174		60,581
Medipal Holdings Corp.		1,700		35,484
Patterson Cos., Inc.		563		12,515
Quest Diagnostics, Inc.		205		20,561
Ramsay Health Care, Ltd.		433		20,847
Ryman Healthcare, Ltd.		11,793		90,530
Sonic Healthcare, Ltd.		3,593		63,342
Suzuken Co., Ltd.		700		29,423
UnitedHealth Group, Inc.		101		21,614
Universal Health Services, Inc. - Class B		172		20,367
				834,715
Health Care Technology—0.0%
Cerner Corp. (b)		294		17,052
Hotels, Restaurants & Leisure—0.3%
Aristocrat Leisure, Ltd.		2,143		39,952
Carnival Corp.		294		19,281
Carnival plc		417		26,870
Chipotle Mexican Grill, Inc. (b)		53		17,125
Compass Group plc		1,354		27,668
Darden Restaurants, Inc.		178		15,175
Domino’s Pizza Enterprises, Ltd.		703		22,611
Flight Centre Travel Group, Ltd.		996		43,824
Genting Singapore plc		58,600		48,564
Marriott International, Inc. - Class A		134		18,221
McDonald’s Corp.		115		17,984
McDonald’s Holdings Co. Japan, Ltd.		700		33,156
Oriental Land Co., Ltd.		300		30,719
Paddy Power Betfair plc		819		84,148
Restaurant Brands International, Inc.		528		30,049
Shangri-La Asia, Ltd.		14,000		28,410
SJM Holdings, Ltd.		26,000		22,784
Sodexo S.A.		284		28,653
Starbucks Corp.		289		16,730
Tabcorp Holdings, Ltd.		13,014		44,123
Wyndham Worldwide Corp.		207		23,687
Wynn Macau, Ltd.		9,200		33,739
Yum! Brands, Inc.		224		19,069
				692,542
Household Durables—0.1%
Electrolux AB - Series B		1,406		44,243
Husqvarna AB - B Shares		4,333		41,800
Leggett & Platt, Inc.		284		12,598
Mohawk Industries, Inc. (b)		93		21,597
Rinnai Corp.		100		9,523
Sekisui Chemical Co., Ltd.		1,100		19,248
Techtronic Industries Co., Ltd.		8,500		50,209
				199,218
Household Products—0.1%
Church & Dwight Co., Inc.		690		34,748
Clorox Co. (The)		204		27,154
Colgate-Palmolive Co.		441		31,611
Essity AB - Class B (b)		1,332		36,832
Henkel AG & Co. KGaA		377		47,449
Kimberly-Clark Corp.		288		31,718
Procter & Gamble Co. (The)		342		27,114
Reckitt Benckiser Group plc		343		29,066
				265,692
Independent Power and Renewable Electricity Producers—0.1%
AES Corp.		3,990		45,366
Electric Power Development Co., Ltd.		1,600		41,190
Meridian Energy, Ltd.		35,935		74,341
NRG Energy, Inc.		1,511		46,131
Uniper SE		1,155		35,202
				242,230
Industrial Conglomerates—0.1%
3M Co.		82		18,001
CK Hutchison Holdings, Ltd.		3,500		42,079
General Electric Co.		529		7,131
Jardine Matheson Holdings, Ltd.		800		49,347
Jardine Strategic Holdings, Ltd.		1,200		46,168
Keihan Holdings Co., Ltd.		800		24,806
Keppel Corp., Ltd.		7,100		42,394
NWS Holdings, Ltd.		16,000		29,150
Roper Technologies, Inc.		95		26,666
Smiths Group plc		1,278		27,177
				312,919
Insurance—0.4%
Admiral Group plc		1,054		27,295
Ageas		802		41,463
Allianz SE		93		21,017
American International Group, Inc.		258		14,040
Aon plc		120		16,840
Arthur J. Gallagher & Co.		299		20,550
Assurant, Inc.		156		14,260
Baloise Holding AG		217		33,211
Chubb, Ltd.		124		16,959
Cincinnati Financial Corp.		244		18,119
CNP Assurances		1,135		28,658
Dai-ichi Life Holdings, Inc.		1,200		22,279
Fairfax Financial Holdings, Ltd.		55		27,880

BHFTI-279

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Gjensidige Forsikring ASA		2,264	$	41,541
Hannover Rueck SE		299		40,835
Hartford Financial Services Group, Inc. (The)		341		17,568
Japan Post Holdings Co., Ltd.		1,800		21,863
Manulife Financial Corp.		999		18,548
Mapfre S.A.		7,302		24,287
Marsh & McLennan Cos., Inc.		217		17,922
Medibank Private, Ltd.		7,000		15,697
MS&AD Insurance Group Holdings, Inc.		700		21,764
NN Group NV		1,063		47,209
Principal Financial Group, Inc.		264		16,080
Progressive Corp. (The)		304		18,523
Sampo Oyj - A Shares		1,108		61,798
SCOR SE		567		23,222
Sompo Holdings, Inc.		600		24,247
Sony Financial Holdings, Inc.		1,300		23,828
Swiss Life Holding AG (b)		71		25,295
T&D Holdings, Inc.		1,400		22,357
Tokio Marine Holdings, Inc.		500		22,773
Torchmark Corp.		194		16,329
Travelers Cos., Inc. (The)		119		16,524
Tryg A/S		2,429		56,655
Unum Group		252		11,998
XL Group, Ltd.		404		22,325
				931,759
Internet & Direct Marketing Retail—0.0%
Amazon.com, Inc. (b)		13		18,815
Booking Holdings, Inc. (b)		8		16,643
TripAdvisor, Inc. (b)		376		15,375
				50,833
Internet Software & Services—0.1%
Akamai Technologies, Inc. (b)		303		21,507
Alphabet, Inc. - Class A (b)		19		19,706
Auto Trader Group plc		15,413		75,869
eBay, Inc. (b)		633		25,472
REA Group, Ltd.		1,302		79,632
Shopify, Inc. - Class A (b)		96		11,946
United Internet AG		997		62,789
VeriSign, Inc. (b)		187		22,171
				319,092
IT Services—0.4%
Accenture plc - Class A		119		18,266
Alliance Data Systems Corp.		84		17,880
Amadeus IT Group S.A.		1,525		112,739
Atos SE		411		56,273
Automatic Data Processing, Inc.		199		22,583
Capgemini SE		471		58,743
CGI Group, Inc. - Class A (b)		1,295		74,683
Cognizant Technology Solutions Corp. - Class A		236		18,998
Computershare, Ltd.		8,124		108,717
CSRA, Inc.		559		23,048
Fidelity National Information Services, Inc.		196		18,875
Fiserv, Inc. (b)		322		22,962
IT Services—(Continued)
Global Payments, Inc.		163		18,178
International Business Machines Corp.		103		15,803
MasterCard, Inc. - Class A		122		21,370
Nomura Research Institute, Ltd.		800		37,765
NTT Data Corp.		2,000		20,982
Obic Co., Ltd.		400		33,745
Otsuka Corp.		800		40,843
Paychex, Inc.		297		18,292
PayPal Holdings, Inc. (b)		272		20,637
Total System Services, Inc.		244		21,047
Visa, Inc. - Class A		171		20,455
Western Union Co. (The)		937		18,018
Wirecard AG		277		32,744
Worldpay, Inc. - Class A (b)		245		19,787
				893,433
Leisure Products—0.0%
Bandai Namco Holdings, Inc.		900		28,999
Hasbro, Inc.		140		11,802
Mattel, Inc.		1,084		14,255
Sankyo Co., Ltd.		700		24,428
				79,484
Life Sciences Tools & Services—0.1%
Agilent Technologies, Inc.		374		25,021
Eurofins Scientific SE		89		47,047
Illumina, Inc. (b)		113		26,715
Lonza Group AG (b)		193		45,526
PerkinElmer, Inc.		295		22,337
QIAGEN NV (b)		948		30,625
Thermo Fisher Scientific, Inc.		100		20,646
Waters Corp. (b)		104		20,660
				238,577
Machinery—0.3%
Alfa Laval AB		1,206		28,511
Andritz AG		697		38,974
Caterpillar, Inc.		163		24,023
CNH Industrial NV		3,501		43,314
Cummins, Inc.		142		23,017
Dover Corp.		246		24,162
IMI plc		1,666		25,287
Ingersoll-Rand plc		210		17,957
Kawasaki Heavy Industries, Ltd.		400		12,883
Kone Oyj - Class B		580		28,971
Kurita Water Industries, Ltd.		900		29,069
MAN SE		343		39,992
Metso Oyj		803		25,353
Parker-Hannifin Corp.		111		18,984
Pentair plc		240		16,351
Sandvik AB		1,688		30,976
Schindler Holding AG		145		30,362
Schindler Holding AG (Participation Certificate)		131		28,256
SKF AB - B Shares		1,179		24,106
Snap-on, Inc.		113		16,672
Stanley Black & Decker, Inc.		134		20,529

BHFTI-280

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Machinery—(Continued)
Sumitomo Heavy Industries, Ltd.		740	$	28,310
Volvo AB - B Shares		1,271		23,205
Wartsila Oyj Abp		1,698		37,566
Xylem, Inc.		298		22,922
Yangzijiang Shipbuilding Holdings, Ltd.		30,587		28,481
				688,233
Marine—0.0%
AP Moller - Maersk A/S - Class A		15		22,068
AP Moller - Maersk A/S - Class B		15		23,382
Kuehne & Nagel International AG		191		30,075
				75,525
Media—0.2%
Altice NV - Class A (b)		5,957		49,270
Altice NV - Class B (b)		1,478		12,204
Comcast Corp. - Class A		495		16,914
Discovery Communications, Inc. - Class A (b)		626		13,415
Discovery Communications, Inc. - Class C (b)		1,020		19,910
DISH Network Corp. - Class A (b)		315		11,935
Lagardere SCA		856		24,464
News Corp. - Class A		1,215		19,197
Omnicom Group, Inc.		164		11,918
Pearson plc		3,150		33,141
Schibsted ASA - B Shares		2,038		51,795
SES S.A.		1,335		18,087
Shaw Communications, Inc. - Class B		2,047		39,435
Singapore Press Holdings, Ltd.		34,400		66,378
TEGNA, Inc.		1,443		16,436
Telenet Group Holding NV (b)		1,334		89,160
Time Warner, Inc.		190		17,970
Twenty-First Century Fox, Inc. - Class A		455		16,694
Walt Disney Co. (The)		129		12,957
				541,280
Metals & Mining—0.2%
Agnico Eagle Mines, Ltd.		866		36,432
Antofagasta plc		2,184		28,273
ArcelorMittal (b)		1,112		35,271
BHP Billiton, Ltd.		1,266		28,004
Boliden AB		1,530		53,938
Freeport-McMoRan, Inc. (b)		2,742		48,177
Fresnillo plc		497		8,854
Hitachi Metals, Ltd.		400		4,706
Maruichi Steel Tube, Ltd.		800		24,288
Newmont Mining Corp.		1,642		64,153
Nippon Steel & Sumitomo Metal Corp.		700		15,388
Norsk Hydro ASA		6,064		35,759
Nucor Corp.		593		36,226
Randgold Resources, Ltd.		277		22,944
Rio Tinto plc		660		33,509
Voestalpine AG		975		51,164
Wheaton Precious Metals Corp.		1,774		36,145
				563,231
Multi-Utilities—0.5%
AGL Energy, Ltd.		5,336		89,403
Ameren Corp.		966		54,705
Atco, Ltd. - Class I		1,185		38,061
Canadian Utilities, Ltd. - Class A		1,529		40,814
CenterPoint Energy, Inc.		1,509		41,347
Centrica plc		27,937		55,786
CMS Energy Corp.		1,029		46,603
Consolidated Edison, Inc.		637		49,648
Dominion Energy, Inc.		609		41,065
DTE Energy Co.		443		46,249
E.ON SE		5,599		62,218
Engie S.A.		3,139		52,442
Innogy SE		1,486		70,294
National Grid plc		6,090		68,487
NiSource, Inc.		1,918		45,859
Public Service Enterprise Group, Inc.		1,131		56,821
RWE AG (b)		2,029		50,121
SCANA Corp.		1,279		48,026
Sempra Energy		467		51,940
Suez		2,981		43,231
Veolia Environnement S.A.		2,395		56,796
WEC Energy Group, Inc.		806		50,536
				1,160,452
Multiline Retail—0.1%
Canadian Tire Corp., Ltd. - Class A		369		48,518
Dollar General Corp.		266		24,884
Dollar Tree, Inc. (b)		182		17,272
Dollarama, Inc.		363		44,117
Harvey Norman Holdings, Ltd.		10,455		29,927
Kohl’s Corp.		371		24,304
Macy’s, Inc.		578		17,190
Marks & Spencer Group plc		5,896		22,377
Nordstrom, Inc.		387		18,735
Target Corp.		251		17,427
				264,751
Oil, Gas & Consumable Fuels—1.1%
Anadarko Petroleum Corp.		522		31,534
Andeavor		271		27,252
Apache Corp.		509		19,586
BP plc		10,704		72,075
Cabot Oil & Gas Corp.		1,136		27,241
Caltex Australia, Ltd.		3,390		82,319
Canadian Natural Resources, Ltd.		483		15,183
Chesapeake Energy Corp. (b)		5,950		17,969
Chevron Corp.		223		25,431
Cimarex Energy Co.		267		24,965
Concho Resources, Inc. (b)		239		35,929
ConocoPhillips		517		30,653
Devon Energy Corp.		750		23,843
Enagas S.A.		3,754		102,747
Eni S.p.A.		3,981		70,177
EOG Resources, Inc.		272		28,633
EQT Corp.		508		24,135
Exxon Mobil Corp.		297		22,159

BHFTI-281

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Oil, Gas & Consumable Fuels—(Continued)
Galp Energia SGPS S.A.		5,386	$	101,593
Hess Corp.		588		29,765
Idemitsu Kosan Co., Ltd.		1,900		72,790
Imperial Oil, Ltd.		926		24,524
Inpex Corp.		6,000		74,880
Inter Pipeline, Ltd.		1,252		21,729
JXTG Holdings, Inc.		12,800		78,189
Kinder Morgan, Inc.		1,283		19,322
Koninklijke Vopak NV		3,098		152,204
Lundin Petroleum AB (b)		3,969		100,309
Marathon Oil Corp.		1,987		32,050
Marathon Petroleum Corp.		385		28,147
Murphy Oil Corp.		1,057		27,313
Neste Oyj		2,351		163,972
Newfield Exploration Co. (b)		796		19,438
Noble Energy, Inc.		866		26,240
Occidental Petroleum Corp.		418		27,153
Oil Search, Ltd.		10,238		56,572
OMV AG		1,459		85,076
ONEOK, Inc.		538		30,623
Origin Energy, Ltd. (b)		8,213		55,497
Phillips 66		289		27,721
Pioneer Natural Resources Co.		166		28,515
Range Resources Corp.		1,112		16,168
Repsol S.A.		4,158		73,874
Royal Dutch Shell plc - A Shares		1,973		61,912
Royal Dutch Shell plc - B Shares		1,809		58,295
Santos, Ltd. (b)		10,900		42,836
Showa Shell Sekiyu KK		6,200		84,459
Snam S.p.A.		17,126		78,780
Statoil ASA		3,471		82,208
Total S.A.		1,994		113,326
TransCanada Corp.		655		27,088
Valero Energy Corp.		325		30,150
Williams Cos., Inc. (The)		867		21,554
Woodside Petroleum, Ltd.		2,834		64,028
				2,720,131
Paper & Forest Products—0.1%
Mondi plc		1,233		33,180
OJI Holdings Corp.		2,000		12,885
Stora Enso Oyj - R Shares		2,814		51,797
UPM-Kymmene Oyj		1,287		47,759
				145,621
Personal Products—0.1%
Beiersdorf AG		469		53,109
Coty, Inc. - Class A		2,010		36,783
Estee Lauder Cos., Inc. (The) - Class A		343		51,354
L’Oreal S.A.		242		54,670
Unilever NV		612		34,595
Unilever plc		621		34,507
				265,018
Pharmaceuticals—0.5%
Allergan plc		110		18,512
AstraZeneca plc		648		44,570
Bayer AG		395		44,664
Bristol-Myers Squibb Co.		248		15,686
Daiichi Sankyo Co., Ltd.		1,000		33,522
Eli Lilly & Co.		216		16,712
GlaxoSmithKline plc		2,714		52,727
H Lundbeck A/S		574		32,085
Ipsen S.A.		122		18,944
Johnson & Johnson		142		18,197
Kyowa Hakko Kirin Co., Ltd.		1,600		34,610
Mallinckrodt plc (b)		906		13,119
Merck & Co., Inc.		311		16,940
Merck KGaA		416		39,909
Mitsubishi Tanabe Pharma Corp.		1,600		32,371
Mylan NV (b)		381		15,686
Novartis AG		575		46,519
Novo Nordisk A/S - Class B		1,150		56,585
Orion Oyj - Class B		2,185		66,936
Otsuka Holdings Co., Ltd.		800		40,180
Perrigo Co. plc		215		17,918
Pfizer, Inc.		475		16,858
Recordati S.p.A.		1,559		57,769
Roche Holding AG		178		40,826
Sanofi		850		68,302
Takeda Pharmaceutical Co., Ltd.		600		29,268
Teva Pharmaceutical Industries, Ltd. (ADR)		3,879		66,292
UCB S.A.		1,118		91,199
Valeant Pharmaceuticals International, Inc. (b)		4,215		67,101
Vifor Pharma AG		370		57,064
Zoetis, Inc.		358		29,897
				1,200,968
Professional Services—0.1%
Equifax, Inc.		97		11,427
Experian plc		1,195		25,814
RELX NV		1,863		38,650
Robert Half International, Inc.		330		19,104
Seek, Ltd.		2,171		31,239
SGS S.A.		12		29,502
Verisk Analytics, Inc. (b)		223		23,192
Wolters Kluwer NV		66		3,515
				182,443
Real Estate Management & Development—0.2%
Aeon Mall Co., Ltd.		1,000		21,010
Azrieli Group, Ltd.		912		43,801
CapitaLand, Ltd.		11,800		32,293
CBRE Group, Inc. - Class A (b)		363		17,141
City Developments, Ltd.		2,900		28,910
Deutsche Wohnen SE		855		39,908
First Capital Realty, Inc.		1,716		27,105
Mitsubishi Estate Co., Ltd.		1,000		16,624
Swire Pacific, Ltd. - Class A		2,500		25,366
Swiss Prime Site AG (b)		396		38,341
Vonovia SE		784		38,880

BHFTI-282

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Real Estate Management & Development—(Continued)
Wharf Holdings, Ltd. (The)		3,000	$	10,393
Wharf Real Estate Investment Co., Ltd. (b)		3,000		19,640
				359,412
Road & Rail—0.1%
Aurizon Holdings, Ltd.		8,386		27,527
Canadian National Railway Co.		536		39,174
Canadian Pacific Railway, Ltd.		194		34,212
ComfortDelGro Corp., Ltd.		14,400		22,654
CSX Corp.		324		18,050
DSV A/S		507		39,982
J.B. Hunt Transport Services, Inc.		132		15,464
Kansas City Southern		206		22,629
MTR Corp., Ltd.		8,000		43,240
Odakyu Electric Railway Co., Ltd.		1,100		22,409
Ryder System, Inc.		196		14,267
Union Pacific Corp.		164		22,046
				321,654
Semiconductors & Semiconductor Equipment—0.3%
Analog Devices, Inc.		254		23,147
ASM Pacific Technology, Ltd.		9,500		134,451
ASML Holding NV		484		95,758
Broadcom, Ltd.		78		18,381
Infineon Technologies AG		2,390		64,028
Microchip Technology, Inc.		301		27,499
NVIDIA Corp.		117		27,096
NXP Semiconductors NV (b)		507		59,319
QUALCOMM, Inc.		319		17,676
Skyworks Solutions, Inc.		204		20,453
STMicroelectronics NV		2,628		58,322
Texas Instruments, Inc.		268		27,842
Xilinx, Inc.		329		23,767
				597,739
Software—0.4%
Activision Blizzard, Inc.		316		21,317
Adobe Systems, Inc. (b)		137		29,603
Autodesk, Inc. (b)		194		24,363
Blackberry, Ltd. (b)		4,583		52,683
CA, Inc.		648		21,967
Check Point Software Technologies, Ltd. (b)		971		96,459
Constellation Software, Inc.		119		80,742
Dassault Systemes SE		581		79,034
Intuit, Inc.		166		28,776
Micro Focus International plc		1,597		22,343
Microsoft Corp.		263		24,004
Nice, Ltd.		1,058		99,266
Open Text Corp.		2,232		77,648
Oracle Corp.		419		19,169
Oracle Corp. Japan		400		33,178
Red Hat, Inc. (b)		141		21,081
Sage Group plc (The)		7,535		67,695
SAP SE		680		71,159
Symantec Corp.		778		20,111
Software—(Continued)
Synopsys, Inc. (b)		278		23,141
UBISOFT Entertainment S.A. (b)		228		19,260
				932,999
Specialty Retail—0.2%
ABC-Mart, Inc.		300		19,726
Advance Auto Parts, Inc.		160		18,968
AutoNation, Inc. (b)		405		18,946
AutoZone, Inc. (b)		26		16,866
Bed Bath & Beyond, Inc.		526		11,041
Best Buy Co., Inc.		298		20,857
Dufry AG (b)		227		29,764
Foot Locker, Inc.		302		13,753
Gap, Inc. (The)		659		20,561
Hennes & Mauritz AB - B Shares		1,557		23,356
Industria de Diseno Textil S.A.		1,927		60,396
Kingfisher plc		5,580		22,963
L Brands, Inc.		251		9,591
Nitori Holdings Co., Ltd.		100		17,502
O’Reilly Automotive, Inc. (b)		47		11,627
Ross Stores, Inc.		286		22,302
Shimamura Co., Ltd.		100		12,430
Signet Jewelers, Ltd.		399		15,369
Tiffany & Co.		185		18,067
TJX Cos., Inc. (The)		211		17,209
Tractor Supply Co.		347		21,868
Ulta Salon Cosmetics & Fragrance, Inc. (b)		70		14,299
USS Co., Ltd.		1,200		24,587
Yamada Denki Co., Ltd.		4,100		24,841
				486,889
Technology Hardware, Storage & Peripherals—0.1%
Canon, Inc.		800		29,218
FUJIFILM Holdings Corp.		700		28,014
HP, Inc.		794		17,405
NetApp, Inc.		448		27,637
Western Digital Corp.		248		22,883
				125,157
Textiles, Apparel & Luxury Goods—0.2%
adidas AG		88		21,312
Cie Financiere Richemont S.A.		404		36,291
Gildan Activewear, Inc.		1,420		41,012
Li & Fung, Ltd.		64,000		31,601
Luxottica Group S.p.A.		868		54,018
Michael Kors Holdings, Ltd. (b)		390		24,211
NIKE, Inc. - Class B		289		19,201
Pandora A/S		764		82,816
PVH Corp.		170		25,743
Ralph Lauren Corp.		275		30,745
Swatch Group AG (The)		556		46,637
Swatch Group AG (The) - Bearer Shares		89		39,269
Tapestry, Inc.		387		20,360
Under Armour, Inc. - Class A (b)		1,239		20,258
Under Armour, Inc. - Class C (b)		1,505		21,597

BHFTI-283

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Textiles, Apparel & Luxury Goods—(Continued)
VF Corp.		341	$	25,275
Yue Yuen Industrial Holdings, Ltd.		9,500		37,942
				578,288
Tobacco—0.1%
Altria Group, Inc.		589		36,707
Imperial Brands plc		1,224		41,712
Japan Tobacco, Inc.		1,000		28,615
Philip Morris International, Inc.		220		21,868
Swedish Match AB		1,193		54,235
				183,137
Trading Companies & Distributors—0.1%
AerCap Holdings NV (b)		452		22,925
Brenntag AG		505		30,053
Fastenal Co.		349		19,052
Ferguson plc		425		31,968
Finning International, Inc.		1,449		34,944
Marubeni Corp.		3,900		28,397
WW Grainger, Inc.		91		25,687
				193,026
Transportation Infrastructure—0.1%
Aena SME S.A.		150		30,228
Aeroports de Paris		108		23,543
Atlantia S.p.A.		929		28,800
Auckland International Airport, Ltd.		10,634		47,198
Fraport AG Frankfurt Airport Services Worldwide		357		35,231
Hutchison Port Holdings Trust - Class U		68,300		20,241
SATS, Ltd.		7,500		29,489
Sydney Airport		6,700		34,735
Transurban Group		4,862		42,819
				292,284
Water Utilities—0.1%
American Water Works Co., Inc.		434		35,644
Severn Trent plc		2,194		56,828
United Utilities Group plc		5,551		55,775
				148,247
Wireless Telecommunication Services—0.2%
1&1 Drillisch AG		365		24,586
KDDI Corp.		2,200		56,499
Millicom International Cellular S.A.		880		60,097
NTT DoCoMo, Inc.		3,200		81,471
Rogers Communications, Inc. - Class B		1,209		53,996
SoftBank Group Corp.		600		44,693
StarHub, Ltd.		43,500		76,265
Tele2 AB - B Shares		5,534		66,448
Vodafone Group plc		24,408		66,834
				530,889
Total Common Stocks (Cost $30,756,345)				34,455,080
U.S. Treasury & Government Agencies—10.6%
Security Description	Principal Amount*		Value
U.S. Treasury—10.6%
U.S. Treasury Inflation Indexed Bond 3.875%, 04/15/29 (a)		9,301,275		12,379,416
U.S. Treasury Inflation Indexed Notes 0.125%, 04/15/18 (a)		2,036,971		2,039,252
0.125%, 01/15/23 (a)		2,125,847		2,090,450
0.250%, 01/15/25 (a)		5,943,040		5,812,168
0.375%, 07/15/25 (a)		3,344,128		3,301,870
Total U.S. Treasury & Government Agencies (Cost $26,292,396)				25,623,156
Preferred Stocks—0.0%
Automobiles—0.0%
Bayerische Motoren Werke (BMW) AG		344		32,246
Household Products—0.0%
Henkel AG & Co. KGaA		304		39,977
Total Preferred Stocks (Cost $62,763)				72,223
Short-Term Investments—25.3%
Mutual Funds—8.5%
BlackRock Liquidity Funds T-Fund Portfolio, Institutional Class, 1.547% (c)		12,147,628		12,147,628
UBS Select Treasury Institutional Fund, Institutional Class, 1.520% (c)		8,604,796		8,604,796
				20,752,424
Repurchase Agreement—4.7%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $11,441,257; collateralized by a U.S. Treasury Note at 1.750%, maturing 05/31/22, with a market value of $11,673,911.		11,440,494		11,440,494
U.S. Treasury—12.1%
U.S. Treasury Bills 1.650%, 04/12/18 (d)		20,000,000		19,990,911
1.653%, 06/07/18 (d) (e)		9,500,000		9,471,058
				29,461,969
Total Short-Term Investments (Cost $61,655,306)				61,654,887
Total Investments—86.6% (Cost $201,511,970)				210,466,128
Other assets and liabilities (net)—13.4%				32,630,735
Net Assets—100.0%			$	243,096,863

BHFTI-284

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Principal amount of security is adjusted for inflation.
(b)	Non-income producing security.
(c)	The rate shown represents the annualized seven-day yield as of March 31, 2018.
(d)	The rate shown represents current yield to maturity.
(e)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $9,471,058.
(144A)	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. As of March 31, 2018, the market value of 144A securities was $6,397,447, which is 2.6% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	2,300,000	BBH		04/27/18		USD	1,773,153	$	6,636
CAD	2,600,000	BBP		04/27/18		USD	2,021,842		2,763
CAD	12,601	BBP		04/27/18		USD	9,790		4
CHF	1,000,000	BONY		04/27/18		USD	1,057,213		9,227
EUR	21,415,000	SSBT		04/26/18		USD	26,530,958		139,693
EUR	6,300,000	SSBT		04/27/18		USD	7,827,084		62,579
GBP	15,000,000	BBP		04/26/18		USD	20,953,330		(111,326	)
GBP	1,300,000	SSBT		04/27/18		USD	1,840,312		14,631
HKD	10,000,000	SSBT		04/27/18		USD	1,275,875		631
JPY	333,900,000	BONY		04/27/18		USD	3,164,977		22,726
Net Unrealized Appreciation								$	147,564

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Aluminum Futures		06/18/18		57		USD	2,854,631	$	(265,873	)
Amsterdam Index Futures		04/20/18		6		EUR	633,600		(11,472	)
Australian 10 Year Treasury Bond Futures		06/15/18		293		AUD	37,977,752		528,350
Bloomberg Commodity Index Futures		06/20/18		834		USD	7,289,160		(10,945	)
Brent Crude Oil Futures		04/30/18		42		USD	2,912,280		27,926
Canada Government Bond 10 Year Futures		06/20/18		242		CAD	32,251,340		435,839
Cattle Feeder Futures		08/30/18		26		USD	1,825,525		(37,620	)
Cocoa Futures		07/16/18		115		USD	2,971,600		724,009
Coffee “C” Futures		05/18/18		18		USD	797,513		(46,697	)
Copper Futures		05/29/18		25		USD	1,890,938		(150,238	)
Corn Futures		07/13/18		54		USD	1,069,875		36,958
Cotton No. 2 Futures		07/09/18		48		USD	1,963,200		6,437
DAX Index Futures		06/15/18		4		EUR	1,211,950		(38,278	)
Euro-BTP Futures		06/07/18		139		EUR	19,291,810		663,388
Euro-Bobl Futures		06/07/18		123		EUR	16,143,750		125,892
Euro-Bund Futures		06/07/18		53		EUR	8,449,790		147,371
Euro-Buxl 30 Year Bond Futures		06/07/18		24		EUR	3,969,120		130,782
FTSE 100 Index Futures		06/15/18		19		GBP	1,328,765		(32,044	)
Gasoline RBOB Futures		04/30/18		13		USD	1,103,248		44,493
Gold 100 oz. Futures		06/27/18		50		USD	6,636,500		46,300
Goldman Sachs Commodity Index Futures		04/16/18		88		USD	9,948,400		165,752
Hang Seng Index Futures		04/27/18		5		HKD	7,512,500		(4,463	)
IBEX 35 Index Futures		04/20/18		8		EUR	765,704		(9,992	)
Interest Rate Swap 10 Year MAC Futures		06/18/18		213		USD	20,215,031		252,437
Interest Rate Swap 5 Year MAC Futures		06/18/18		335		USD	32,332,734		135,432
Japanese Government 10 Year Bond Futures		06/13/18		8		JPY	1,206,160,000		4,428
Japanese Government 10 Year Bond Mini Futures		06/12/18		438		JPY	6,604,602,000		(4,487	)
Lean Hogs Futures		06/14/18		15		USD	459,300		(3,738	)

BHFTI-285

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Live Cattle Futures		06/29/18		83			USD	3,405,490		$	(295,663	)
Low Sulphur Gas Oil Futures		05/10/18		27			USD	1,668,600			14,452
MSCI Emerging Markets Index Mini Futures		06/15/18		408			USD	24,231,120			(806,828	)
Natural Gas Futures		06/27/18		100			USD	2,832,000			19,200
New York Harbor ULSD Futures		04/30/18		19			USD	1,612,758			79,636
Nickel Futures		06/18/18		21			USD	1,675,296			(63,621	)
OMX Stockholm 30 Index Futures		04/20/18		49			SEK	7,467,600			(17,842	)
Russell 2000 Index Mini Futures		06/15/18		257			USD	19,675,920			(900,146	)
S&P 500 Index E-Mini Futures		06/15/18		155			USD	20,483,250			(1,131,113	)
S&P TSX 60 Index Futures		06/14/18		9			CAD	1,630,800			(15,671	)
SPI 200 Index Futures		06/21/18		6			AUD	860,400			(28,130	)
Silver Futures		05/29/18		37			USD	3,009,580			(113,368	)
Soybean Futures		07/13/18		22			USD	1,161,050			3,782
Soybean Meal Futures		05/14/18		30			USD	1,152,000			156,507
Soybean Oil Futures		07/13/18		91			USD	1,754,298			(15,974	)
Sugar No. 11 Futures		06/29/18		61			USD	851,267			(75,884	)
TOPIX Index Futures		06/07/18		6			JPY	102,990,000			17,988
U.S. Treasury Long Bond Futures		06/20/18		115			USD	16,861,875			501,687
U.S. Treasury Note 10 Year Futures		06/20/18		35			USD	4,239,922			45,013
U.S. Treasury Note 2 Year Futures		06/29/18		56			USD	11,906,125			3,556
United Kingdom Long Gilt Bond Futures		06/27/18		149			GBP	18,300,180			407,271
Wheat Futures		07/13/18		51			USD	1,194,675			(26,933	)
Zinc Futures		06/18/18		27			USD	2,211,975			(167,887	)
Futures Contracts—Short
Nickel Futures		06/18/18		(1	)		USD	(79,776	)		714
Net Unrealized Appreciation										$	450,693

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Notional Amount

Market Value

Upfront Premiums Received

Unrealized Appreciation

Pay

3M LIBOR

Quarterly

1.750%

Semi-Annually

06/20/20

USD

80,590,000

$

(1,368,289

)

$

(1,429,586

)

$

61,297

Glossary of Abbreviations

Counterparties

(BBH)—	Brown Brothers Harriman & Co.
(BBP)—	Barclays Bank plc
(BONY)—	The Bank of New York Mellon
(SSBT)—	State Street Bank and Trust

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(EUR)—	Euro
(GBP)—	British Pound
(HKD)—	Hong Kong Dollar
(JPY)—	Japanese Yen
(SEK)—	Swedish Krona
(USD)—	United States Dollar

BHFTI-286

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Glossary of Abbreviations—(Continued)

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(ADR)—	American Depositary Receipt
(ETF)—	Exchange Traded Fund

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Total Foreign Government*	$	—	$	48,085,515	$	—	$	48,085,515
Total Mutual Fund*		40,575,267		—		—		40,575,267
Common Stocks
Aerospace & Defense		325,377		182,886		—		508,263
Air Freight & Logistics		63,169		47,618		—		110,787
Airlines		158,090		57,824		—		215,914
Auto Components		105,334		84,583		—		189,917
Automobiles		67,242		86,767		—		154,009
Banks		321,872		724,799		—		1,046,671
Beverages		268,893		532,646		—		801,539
Biotechnology		138,091		209,850		—		347,941
Building Products		26,181		17,977		—		44,158
Capital Markets		179,565		87,358		—		266,923
Chemicals		542,161		1,215,177		—		1,757,338
Commercial Services & Supplies		86,486		54,821		—		141,307
Communications Equipment		87,355		163,731		—		251,086
Construction & Engineering		61,751		18,235		—		79,986
Construction Materials		65,148		140,904		—		206,052
Consumer Finance		30,101		—		—		30,101
Containers & Packaging		219,128		38,891		—		258,019
Distributors		28,002		52,858		—		80,860
Diversified Consumer Services		14,636		18,176		—		32,812
Diversified Financial Services		34,920		100,210		—		135,130
Diversified Telecommunication Services		1,198,385		1,791,858		—		2,990,243
Electric Utilities		773,625		1,435,353		—		2,208,978
Electrical Equipment		94,209		78,119		—		172,328
Electronic Equipment, Instruments & Components		89,943		247,632		—		337,575
Energy Equipment & Services		174,391		87,529		—		261,920
Equity Real Estate Investment Trusts		386,563		210,634		—		597,197
Food & Staples Retailing		450,926		475,932		—		926,858
Food Products		460,362		935,238		—		1,395,600
Gas Utilities		—		330,890		—		330,890

BHFTI-287

Brighthouse Funds Trust I

PanAgora Global Diversified Risk Portfolio

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Health Care Equipment & Supplies	$	288,255		$	651,503		$	—	$	939,758
Health Care Providers & Services		345,543			489,172			—		834,715
Health Care Technology		17,052			—			—		17,052
Hotels, Restaurants & Leisure		177,321			515,221			—		692,542
Household Durables		34,195			165,023			—		199,218
Household Products		152,345			113,347			—		265,692
Independent Power and Renewable Electricity Producers		91,497			150,733			—		242,230
Industrial Conglomerates		51,798			261,121			—		312,919
Insurance		284,465			647,294			—		931,759
Internet & Direct Marketing Retail		50,833			—			—		50,833
Internet Software & Services		100,802			218,290			—		319,092
IT Services		390,882			502,551			—		893,433
Leisure Products		26,057			53,427			—		79,484
Life Sciences Tools & Services		115,379			123,198			—		238,577
Machinery		184,617			503,616			—		688,233
Marine		—			75,525			—		75,525
Media		196,781			344,499			—		541,280
Metals & Mining		221,133			342,098			—		563,231
Multi-Utilities		611,674			548,778			—		1,160,452
Multiline Retail		212,447			52,304			—		264,751
Oil, Gas & Consumable Fuels		792,013			1,928,118			—		2,720,131
Paper & Forest Products		—			145,621			—		145,621
Personal Products		88,137			176,881			—		265,018
Pharmaceuticals		312,918			888,050			—		1,200,968
Professional Services		53,723			128,720			—		182,443
Real Estate Management & Development		44,246			315,166			—		359,412
Road & Rail		165,842			155,812			—		321,654
Semiconductors & Semiconductor Equipment		245,180			352,559			—		597,739
Software		541,064			391,935			—		932,999
Specialty Retail		251,324			235,565			—		486,889
Technology Hardware, Storage & Peripherals		67,925			57,232			—		125,157
Textiles, Apparel & Luxury Goods		228,402			349,886			—		578,288
Tobacco		58,575			124,562			—		183,137
Trading Companies & Distributors		102,608			90,418			—		193,026
Transportation Infrastructure		—			292,284			—		292,284
Water Utilities		35,644			112,603			—		148,247
Wireless Telecommunication Services		53,996			476,893			—		530,889
Total Common Stocks		13,046,579			21,408,501			—		34,455,080
Total U.S. Treasury & Government Agencies*		—			25,623,156			—		25,623,156
Total Preferred Stocks*		—			72,223			—		72,223
Short-Term Investments
Mutual Funds		20,752,424			—			—		20,752,424
Repurchase Agreement		—			11,440,494			—		11,440,494
U.S. Treasury		—			29,461,969			—		29,461,969
Total Short-Term Investments		20,752,424			40,902,463			—		61,654,887
Total Investments	$	74,374,270		$	136,091,858		$	—	$	210,466,128
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	258,890		$	—	$	258,890
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(111,326	)		—		(111,326	)
Total Forward Contracts	$	—		$	147,564		$	—	$	147,564
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	4,725,600		$	—		$	—	$	4,725,600
Futures Contracts (Unrealized Depreciation)		(4,274,907	)		—			—		(4,274,907	)
Total Futures Contracts	$	450,693		$	—		$	—	$	450,693
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	61,297		$	—	$	61,297

* See Consolidated Schedule of Investments for additional detailed categorizations.

Transfers from Level 2 to Level 1 in the amount of $54,860 were due to the discontinuation of a systematic fair valuation model factor. Transfers from Level 1 to Level 2 in the amount of $34,056 were due to the application of a systematic fair valuation model factor.

BHFTI-288

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—115.9% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—14.8%
Fannie Mae 30 Yr. Pool 3.500%, TBA (a)		208,420,000	$	208,732,215
4.000%, TBA (a)		155,900,000		159,710,525
Fannie Mae ARM Pool 2.401%, 12M MTA + 1.200%, 07/01/44 (b)		12,143		12,344
2.401%, 12M MTA + 1.200%, 09/01/44 (b)		24,575		24,986
3.551%, 1Y CMT + 2.360%, 11/01/34 (b)		509,323		540,659
Fannie Mae REMICS (CMO) 1.681%, 1M LIBOR + 0.060%, 12/25/36 (b)		44,871		44,353
1.932%, 1M LIBOR + 0.060%, 07/25/37 (b)		398,730		392,076
2.022%, 1M LIBOR + 0.150%, 08/25/34 (b)		53,523		52,965
2.222%, 1M LIBOR + 0.350%, 07/25/37 (b)		6,486		6,475
2.252%, 1M LIBOR + 0.380%, 07/25/37 (b)		71,606		71,985
2.552%, 1M LIBOR + 0.680%, 02/25/41 (b)		1,465,519		1,493,655
3.465%, 12M LIBOR + 1.000%, 05/25/35 (b)		273,405		287,008
Fannie Mae Whole Loan (CMO) 2.222%, 1M LIBOR + 0.350%, 05/25/42 (b)		48,728		48,992
Freddie Mac ARM Non-Gold Pool 3.548%, 1Y CMT + 2.254%, 01/01/34 (b)		70,298		73,901
Freddie Mac REMICS (CMO) 1.927%, 1M LIBOR + 0.150%, 10/15/20 (b)		14,382		14,377
2.007%, 1M LIBOR + 0.230%, 02/15/19 (b)		76		76
2.136%, 07/15/44 (b)		5,320,000		5,306,123
2.227%, 1M LIBOR + 0.450%, 08/15/33 (b)		474,348		474,775
Freddie Mac Strips (CMO) 2.227%, 1M LIBOR + 0.450%, 09/15/42 (b)		6,292,659		6,335,845
Freddie Mac Structured Pass-Through Securities (CMO) 2.132%, 1M LIBOR + 0.260%, 08/25/31 (b)		39,404		39,204
2.263%, 12M MTA + 1.200%, 02/25/45 (b)		666,447		670,098
2.401%, 12M MTA + 1.200%, 10/25/44 (b)		2,209,706		2,236,975
Government National Mortgage Association (CMO) 2.405%, 1M LIBOR + 0.830%, 08/20/66 (b)		284,411		288,444
2.550%, 12M LIBOR + 0.750%, 04/20/67 (b)		3,419,484		3,528,036
				390,386,092
U.S. Treasury—101.1%
U.S. Treasury Inflation Indexed Bonds 0.500%, 01/15/28 (c) (d) (e)		55,568,164		54,574,686
0.625%, 02/15/43 (c) (d) (f)		9,776,644		9,216,664
0.750%, 02/15/42 (d)		32,047,327		31,208,759
0.750%, 02/15/45 (c) (d)		24,205,430		23,338,057
0.875%, 02/15/47 (c) (d) (f)		72,795,962		72,262,691
1.000%, 02/15/46 (d)		67,241,554		68,866,569
1.000%, 02/15/48 (d)		14,310,915		14,681,324
1.375%, 02/15/44 (c) (d)		77,527,965		86,208,283
1.750%, 01/15/28 (c) (d)		118,891,642		130,711,553
2.000%, 01/15/26 (c) (d)		41,402,449		45,717,995
2.125%, 02/15/40 (c) (d)		41,532,622		52,419,993
2.125%, 02/15/41 (c) (d)		12,195,625		15,483,079
2.375%, 01/15/25 (c) (d)		229,841,152		257,378,924
2.375%, 01/15/27 (c) (d)		24,626,956		28,214,518
2.500%, 01/15/29 (c) (d)		134,393,125		159,192,041
3.375%, 04/15/32 (d) (f)		10,245,242		13,789,619
3.625%, 04/15/28 (c) (d) (f)		58,204,821		74,618,397
3.875%, 04/15/29 (c) (d)		56,977,470		75,833,450
U.S. Treasury—(Continued)
U.S. Treasury Inflation Indexed Notes 0.125%, 04/15/19 (c) (d)		51,765,414		51,726,800
0.125%, 04/15/20 (c) (d) (f)		120,259,209		119,790,941
0.125%, 04/15/21 (c) (d) (f) (g)		269,036,097		266,745,088
0.125%, 01/15/22 (d) (f) (g) (h)		7,259,452		7,182,246
0.125%, 04/15/22 (c) (d) (g)		11,286,776		11,127,677
0.125%, 07/15/22 (c) (d)		83,793,867		82,955,858
0.125%, 01/15/23 (c) (d)		145,013,468		142,598,916
0.125%, 07/15/24 (c) (d)		26,548,851		25,938,080
0.125%, 07/15/26 (c) (d)		26,012,672		24,999,610
0.250%, 01/15/25 (c) (d)		119,094,158		116,471,585
0.375%, 07/15/23 (c) (d)		184,319,694		183,723,731
0.375%, 07/15/25 (c) (d)		27,108,338		26,765,783
0.375%, 01/15/27 (d) (f) (g)		4,903,945		4,779,242
0.625%, 07/15/21 (d) (f) (g) (h)		10,518,391		10,646,091
0.625%, 01/15/24 (c) (d)		79,426,863		79,849,384
0.625%, 01/15/26 (c) (d)		128,966,153		128,947,022
1.250%, 07/15/20 (c) (d)		57,566,442		59,099,520
1.375%, 07/15/18 (d) (f) (g) (h)		1,195,220		1,207,250
1.375%, 01/15/20 (c) (d)		30,675,563		31,335,089
1.875%, 07/15/19 (c) (d) (h) (i)		16,603,007		17,048,962
U.S. Treasury Notes 1.875%, 02/28/22 (c)		49,600,000		48,441,375
1.875%, 04/30/22 (f)		200,000		195,055
1.875%, 07/31/22 (c) (f) (h)		3,800,000		3,698,023
				2,658,989,930
Total U.S. Treasury & Government Agencies (Cost $3,140,897,517)				3,049,376,022
Foreign Government—9.4%
Banks—0.3%
Development Bank of Japan, Inc. 2.125%, 09/01/22 (144A)		2,400,000		2,315,892
Dexia Credit Local S.A. 2.500%, 01/25/21 (144A)		4,880,000		4,844,941
				7,160,833
Sovereign—9.1%
Argentina Bocon 22.844%, BADLAR + 0.000%, 10/04/22 (ARS) (b) (d)		300,000		24,661
Argentina POM Politica Monetaria 27.250%, 06/21/20 (ARS) (b)		134,215,000		7,134,757
Argentine Bonos del Tesoro 24.949%, BADLAR + 2.000%, 04/03/22 (ARS) (b)		13,576,000		687,166
Argentine Republic Government International Bonds 5.875%, 01/11/28		3,000,000		2,821,500
6.875%, 01/26/27		7,600,000		7,748,200
Australia Government Bond 3.000%, 09/20/25 (AUD) (d)		11,150,000		12,073,438
Brazil Letras do Tesouro Nacional 8.334%, 07/01/18 (BRL)		209,100,000		62,380,070
Bundesobligation 0.250%, 04/13/18 (EUR)		4,700,000		5,783,958

BHFTI-289

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Foreign Government—(Continued)

Security Description	Principal Amount*		Value
Sovereign—(Continued)
Canadian Government Real Return Bond 4.250%, 12/01/26 (CAD) (d)		7,196,304	$	7,445,090
Cyprus Government International Bonds 2.750%, 06/27/24 (EUR)		390,000		513,807
3.750%, 07/26/23 (EUR)		1,080,000		1,490,744
3.875%, 05/06/22 (EUR)		940,000		1,295,686
4.250%, 11/04/25 (EUR)		950,000		1,364,723
France Government Bond OAT 0.100%, 03/01/25 (EUR) (d)		8,531,008		11,306,460
0.250%, 07/25/24 (EUR) (d)		3,948,002		5,347,603
Italy Buoni Ordinari del Tesoro BOT Zero Coupon, 04/13/18 (EUR)		10,180,000		12,527,769
Zero Coupon, 04/30/18 (EUR)		3,500,000		4,308,309
Italy Buoni Poliennali Del Tesoro 0.100%, 05/15/23 (EUR) (d)		7,503,391		9,533,526
2.350%, 09/15/24 (144A) (EUR) (d)		4,517,581		6,485,284
Japan Bank for International Cooperation 2.375%, 07/21/22		1,200,000		1,172,157
Japanese Government CPI Linked Bonds 0.100%, 03/10/24 (JPY) (d)		175,270,000		1,725,604
0.100%, 03/10/27 (JPY) (d)		2,366,403,000		23,620,663
Mexican Bonos 7.750%, 05/29/31 (MXN)		97,900,000		5,510,241
New Zealand Government Bonds 2.500%, 09/20/35 (NZD) (d)		1,553,550		1,264,767
3.000%, 09/20/30 (NZD) (d)		11,600,000		10,067,697
United Kingdom Gilt Inflation Linked Bonds 0.125%, 03/22/26 (GBP) (d)		10,676,403		17,343,496
0.125%, 03/22/46 (GBP) (d)		2,236,039		5,104,167
0.125%, 11/22/56 (GBP) (d)		897,351		2,456,317
0.125%, 11/22/65 (GBP) (d)		954,027		3,101,989
0.375%, 03/22/62 (GBP) (d)		11,706		38,166
1.875%, 11/22/22 (GBP) (d)		2,456,519		4,101,663
4.250%, 12/07/27 (GBP)		2,000,000		3,541,572
				239,321,250
Total Foreign Government (Cost $246,071,446)				246,482,083
Asset-Backed Securities—7.8%
Asset-Backed - Home Equity—0.5%
Bear Stearns Asset-Backed Securities Trust 2.372%, 1M LIBOR + 0.500%, 12/25/35 (b)		455,907		455,001
Citigroup Mortgage Loan Trust, Inc. 2.017%, 1M LIBOR + 0.145%, 09/25/36 (144A) (b)		2,559,869		2,458,593
2.332%, 1M LIBOR + 0.460%, 10/25/35 (b)		3,700,000		3,411,250
First NLC Trust 1.942%, 1M LIBOR + 0.070%, 08/25/37 (144A) (b)		1,145,561		717,891
Home Equity Asset Trust 2.727%, 1M LIBOR + 0.855%, 08/25/34 (b)		857,724		849,314
HSI Asset Securitization Corp. Trust 1.922%, 1M LIBOR + 0.050%, 10/25/36 (b)		6,209		3,206
Master Asset-Backed Securities Trust 2.372%, 1M LIBOR + 0.500%, 10/25/35 (b)		166,355		152,064
Asset-Backed - Home Equity—(Continued)
Morgan Stanley ABS Capital, Inc. Trust 2.532%, 1M LIBOR + 0.660%, 01/25/35 (b)		736,006		717,556
Nomura Home Equity Loan, Inc 2.162%, 1M LIBOR + 0.290%, 03/25/36 (b)		3,000,000		2,902,404
NovaStar Mortgage Funding Trust 2.577%, 1M LIBOR + 0.705%, 01/25/36 (b)		2,000,000		1,981,037
Soundview Home Loan Trust 1.932%, 1M LIBOR + 0.060%, 11/25/36 (144A) (b)		50,582		23,341
				13,671,657
Asset-Backed - Other—6.2%
Adagio CLO 0.660%, 10/15/29 (144A) (EUR) (b)		300,000		370,597
1.100%, 10/15/29 (144A) (EUR)		250,000		307,625
Amortizing Residential Collateral Trust 2.997%, 1M LIBOR + 1.125%, 08/25/32 (b)		989,108		975,312
AtriumI 2.575%, 04/22/27 (144A) (b)		2,500,000		2,499,025
Avery Point CLO, Ltd. 2.845%, 3M LIBOR + 1.100%, 04/25/26 (144A) (b)		8,100,000		8,098,785
Babson Euro CLO B.V. 0.492%, 10/25/29 (144A) (EUR) (b)		700,000		860,950
Bayview Opportunity Master Fund Trust 3.475%, 04/28/32 (144A) (b)		228,372		228,047
Benefit Street Partners CLO, Ltd. 2.514%, 07/18/27 (144A) (b)		1,300,000		1,299,910
Black Diamond CLO, Ltd. 0.650%, 10/03/29 (144A) (EUR) (b)		2,120,000		2,607,322
1.050%, 10/03/29 (144A) (b)		1,370,000		1,370,401
Carlyle Global Market Strategies Euro CLO, Ltd. 0.730%, 09/21/29 (144A) (EUR) (b)		300,000		370,635
Catamaran CLO, Ltd. 2.363%, 01/27/28 (144A) (b)		4,020,000		4,029,302
Cavalry CLO, Ltd. 2.572%, 10/15/26 (144A) (b)		1,300,000		1,300,043
CIFC Funding, Ltd. 2.502%, 3M LIBOR + 0.780%, 04/15/27 (144A) (b)		5,860,000		5,857,176
CIT Mortgage Loan Trust 3.222%, 1M LIBOR + 1.350%, 10/25/37 (144A) (b)		5,071,925		5,096,885
CoreVest American Finance Trust 2.968%, 10/15/49 (144A)		1,087,799		1,067,492
Credit-Based Asset Servicing and Securitization LLC 1.992%, 1M LIBOR + 0.120%, 07/25/37 (144A) (b)		113,370		74,917
CSAB Mortgage-Backed Trust 5.720%, 09/25/36		600,284		355,156
CVP Cascade CLO-1, Ltd. 2.872%, 3M LIBOR + 1.150%, 01/16/26 (144A) (b)		1,200,000		1,199,696
CWABS Asset-Backed Certificates Trust 2.402%, 1M LIBOR + 0.530%, 02/25/36 (b)		4,900,000		4,857,547
Equity One Mortgage Pass-Through Trust 2.472%, 1M LIBOR + 0.600%, 04/25/34 (b)		104,214		92,454
First Franklin Mortgage Loan Trust 2.182%, 1M LIBOR + 0.310%, 07/25/36 (b)		3,300,000		3,121,887
Flagship, Ltd. 2.865%, 3M LIBOR + 1.120%, 01/20/26 (144A) (b)		5,600,000		5,597,631

BHFTI-290

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
GSAMP Trust 2.607%, 1M LIBOR + 0.735%, 09/25/35 (b)		309,427	$	302,249
Halcyon Loan Advisors Funding, Ltd. 2.665%, 04/20/27 (144A) (b)		2,300,000		2,299,020
Hildebe CLO, Ltd. 2.919%, 3M LIBOR + 1.180%, 07/19/26 (144A) (b)		13,500,000		13,495,248
HSI Asset Securitization Corp. Trust 2.032%, 1M LIBOR + 0.160%, 05/25/37 (b)		457,901		449,925
Jamestown CLO, Ltd. 2.412%, 07/15/26 (144A) (b)		5,300,000		5,297,636
2.951%, 3M LIBOR + 1.220%, 01/17/27 (144A) (b)		6,800,000		6,798,456
Jubilee CLO B.V. 0.511%, 07/12/28 (144A) (EUR) (b)		1,300,000		1,604,185
KVK CLO, Ltd. 2.622%, 01/15/28 (144A) (b)		2,390,000		2,392,792
Long Beach Mortgage Loan Trust 2.332%, 1M LIBOR + 0.460%, 01/25/46 (b)		188,562		188,623
2.607%, 1M LIBOR + 0.735%, 08/25/35 (b)		730,854		730,803
Morgan Stanley ABS Capital, Inc. Trust 2.847%, 1M LIBOR + 0.975%, 07/25/34 (b)		84,371		83,029
Morgan Stanley IXIS Real Estate Capital Trust 1.922%, 1M LIBOR + 0.050%, 11/25/36 (b)		674		342
MP CLO, Ltd. 2.574%, 04/18/27 (144A) (b)		840,000		839,803
OCP CLO, Ltd. 2.522%, 07/15/27 (144A) (b)		3,100,000		3,098,435
2.573%, 10/26/27 (144A) (b)		250,000		249,876
2.581%, 04/17/27 (144A) (b)		1,700,000		1,699,182
OHA Credit Partners, Ltd. 2.755%, 3M LIBOR + 1.010%, 10/20/25 (144A) (b)		6,381,464		6,380,022
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates 2.362%, 1M LIBOR + 0.490%, 09/25/35 (b)		200,000		199,400
2.922%, 1M LIBOR + 1.050%, 10/25/34 (b)		4,000,000		4,038,475
Penta CLO B.V. 0.790%, 3M EURIBOR + 0.790%, 08/04/28 (144A) (EUR) (b)		1,300,000		1,600,791
RAAC Trust 2.212%, 1M LIBOR + 0.340%, 08/25/36 (b)		764,000		732,369
Shackleton CLO, Ltd. 2.842%, 3M LIBOR + 1.120%, 01/13/25 (144A) (b)		900,000		899,717
Small Business Administration Participation Certificates 5.510%, 11/01/27		1,436,901		1,505,321
Sound Point CLO, Ltd. 2.582%, 04/15/27 (144A) (b)		4,000,000		3,998,212
2.625%, 07/20/27 (144A) (b)		1,200,000		1,200,928
Structured Asset Securities Corp. Mortgage Loan Trust 3.164%, 1M LIBOR + 1.500%, 04/25/35 (b)		217,662		212,888
THL Credit Wind River CLO, Ltd. 2.592%, 10/15/27 (144A) (b)		400,000		399,821
TICP CLO, Ltd. 2.905%, 3M LIBOR + 1.160%, 07/20/26 (144A) (b)		10,600,000		10,596,322
Tralee CLO, Ltd. 2.775%, 10/20/27 (144A) (b)		3,200,000		3,201,050
U.S. Residential Opportunity Fund Trust 3.352%, 11/27/37 (144A)		1,405,840		1,402,157
Asset-Backed - Other—(Continued)
Venture CLO, Ltd. 2.542%, 3M LIBOR + 0.820%, 04/15/27 (144A) (b)		7,240,000		7,236,967
2.602%, 07/15/27 (144A) (b)		2,700,000		2,698,909
Vericrest Opportunity Loan Trust LLC 3.125%, 09/25/47 (144A)		3,454,175		3,435,209
3.250%, 06/25/47 (144A)		124,617		124,084
3.375%, 04/25/47 (144A)		874,115		872,284
3.500%, 03/25/47 (144A)		572,103		571,024
Vibrant CLO, Ltd. 2.641%, 3M LIBOR + 0.900%, 07/24/24 (144A) (b)		5,899,120		5,900,005
Voya CLO, Ltd. 2.465%, 3M LIBOR + 0.720%, 07/25/26 (144A) (b)		5,800,000		5,797,877
WhiteHorse, Ltd. 2.978%, 3M LIBOR + 1.200%, 02/03/25 (144A) (b)		4,699,209		4,700,835
Z Capital Credit Partners CLO, Ltd. 2.672%, 07/16/27 (144A) (b)		4,710,000		4,711,441
				163,584,507
Asset-Backed - Student Loan—1.1%
College Loan Corp. Trust 1.995%, 3M LIBOR + 0.250%, 01/25/24 (b)		900,000		888,612
Navient Student Loan Trust 3.022%, 1M LIBOR + 1.150%, 03/25/66 (144A) (b)		3,920,896		3,984,711
SLM Private Education Loan Trust 1.850%, 06/17/30 (144A)		2,048,693	$	2,034,235
4.027%, 1M LIBOR + 2.250%, 06/16/42 (144A) (b)		1,480,000		1,535,043
SLM Student Loan Trust Zero Coupon, 3M EURIBOR + 0.260%, 12/15/23 (EUR) (b)		711,482		873,655
Zero Coupon, 3M EURIBOR + 0.270%, 06/17/24 (EUR) (b)		1,196,229		1,472,115
2.295%, 3M LIBOR + 0.550%, 10/25/64 (144A) (b)		3,700,000		3,667,901
3.245%, 3M LIBOR + 1.500%, 04/25/23 (b)		7,878,791		8,040,899
SoFi Professional Loan Program LLC 2.050%, 01/25/41 (144A)		4,969,057		4,930,381
				27,427,552
Total Asset-Backed Securities (Cost $201,408,791)				204,683,716
Corporate Bonds & Notes—7.0%
Agriculture—0.2%
BAT Capital Corp. 2.423%, 08/14/20 (144A) (b)		4,000,000		4,012,541
BAT International Finance plc 2.750%, 06/15/20 (144A)		100,000		99,146
Imperial Brands Finance plc 2.950%, 07/21/20 (144A)		200,000		198,567
Japan Tobacco, Inc. 2.100%, 07/23/18 (144A)		100,000		99,929
				4,410,183

BHFTI-291

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Auto Manufacturers—0.2%
American Honda Finance Corp. 2.137%, 3M LIBOR + 0.350%, 11/05/21 (b)		210,000	$	210,154
Ford Motor Credit Co. LLC 2.943%, 01/08/19		100,000		100,021
5.000%, 05/15/18		2,000,000		2,004,799
General Motors Co. 2.594%, 3M LIBOR + 0.800%, 08/07/20 (b)		170,000		170,162
General Motors Financial Co., Inc. 2.350%, 10/04/19		200,000		198,165
2.967%, 3M LIBOR + 1.270%, 10/04/19 (b)		100,000		101,062
Volkswagen Group of America Finance LLC 2.125%, 05/23/19 (144A)		1,400,000		1,390,776
2.374%, 3M LIBOR + 0.470%, 05/22/18 (144A) (b)		1,200,000		1,199,651
2.450%, 11/20/19 (144A)		500,000		494,729
				5,869,519
Banks—3.6%
Banco Bilbao Vizcaya Argentaria S.A. 7.000%, 5Y EUR Swap + 6.155%, 02/19/19 (EUR) (b)		800,000		1,032,397
Bank of America Corp. 5.875%, 03/15/28		1,570,000		1,579,904
Bank of America N.A. 1.750%, 06/05/18		15,300,000		15,279,666
Barclays plc 7.000%, 5Y GBP Swap + 5.084%, 09/15/19 (GBP) (b)		300,000		440,388
BBVA Bancomer S.A. 6.500%, 03/10/21 (144A)		4,800,000		5,100,000
Cooperatieve Rabobank UA 5.500%, 5Y EUR Swap + 5.250%, 06/29/20 (EUR) (b)		1,200,000		1,592,817
Credit Suisse Group Funding Guernsey, Ltd. 3.800%, 09/15/22		6,600,000		6,646,124
Deutsche Bank AG 4.250%, 10/14/21		11,700,000		11,883,706
Dexia Credit Local S.A. 2.375%, 09/20/22 (144A)		4,900,000		4,777,978
Goldman Sachs Group, Inc. (The) 2.876%, 10/31/22		4,000,000		3,915,727
3.325%, 3M LIBOR + 1.200%, 09/15/20 (b)		10,000,000		10,157,890
ING Bank NV 2.625%, 12/05/22 (144A)		3,300,000		3,232,505
JPMorgan Chase & Co. 7.900%, 3M LIBOR + 3.470%, 04/30/18 (b)		900,000		904,590
Lloyds Banking Group plc 6.375%, 5Y EUR Swap + 5.290%, 06/27/20 (EUR) (b)		700,000		929,169
Macquarie Bank, Ltd. 2.047%, 04/04/19 (144A) (b)		5,300,000		5,304,027
Mitsubishi UFJ Financial Group, Inc. 3.886%, 3M LIBOR + 1.880%, 03/01/21 (b)		1,686,000		1,746,752
Nykredit Realkredit A/S 2.500%, 10/01/47 (DKK)		54,381		9,353
Banks—(Continued)
Realkredit Danmark A/S 1.000%, 04/01/18 (DKK)		4,100,000		676,724
2.500%, 07/01/47 (DKK)		92,814		15,952
State Bank of India 2.654%, 3M LIBOR + 0.950%, 04/06/20 (b)		5,500,000		5,502,200
UBS AG 2.355%, 3M LIBOR + 0.320%, 12/07/18 (144A) (b)		6,800,000		6,804,672
2.627%, 3M LIBOR + 0.580%, 06/08/20 (144A) (b)		7,100,000		7,125,837
				94,658,378
Commercial Services—0.0%
ERAC USA Finance LLC 2.800%, 11/01/18 (144A)		100,000		100,003
5.250%, 10/01/20 (144A)		100,000		104,961
				204,964
Computers—0.0%
Dell International LLC / EMC Corp. 3.480%, 06/01/19 (144A)		300,000		301,357
Diversified Financial Services—0.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.750%, 05/15/19		1,100,000		1,106,885
4.625%, 10/30/20		400,000		411,730
Air Lease Corp. 4.750%, 03/01/20		100,000		102,810
Ally Financial, Inc. 3.750%, 11/18/19		200,000		201,134
BRFkredit A/S 2.500%, 10/01/47 (DKK)		46,741		8,039
International Lease Finance Corp. 5.875%, 04/01/19		300,000		308,187
6.250%, 05/15/19		800,000		827,459
8.250%, 12/15/20		900,000		1,000,406
LeasePlan Corp. NV 2.875%, 01/22/19 (144A)		100,000		99,687
Navient Corp. 4.875%, 06/17/19		200,000		201,600
5.500%, 01/15/19		1,400,000		1,415,400
Nordea Kredit Realkreditaktieselskab 2.500%, 10/01/47 (DKK)		9,000		1,548
Springleaf Finance Corp. 8.250%, 12/15/20		100,000		108,875
				5,793,760
Electric—0.3%
Iberdrola Finance Ireland, Ltd. 5.000%, 09/11/19 (144A)		100,000		102,758
NextEra Energy Capital Holdings, Inc. 2.372%, 3M LIBOR + 0.315%, 09/03/19 (b)		4,530,000		4,529,035
Sempra Energy 2.575%, 3M LIBOR + 0.450%, 03/15/21 (b)		1,800,000		1,805,238

BHFTI-292

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
Southern Power Co. 2.752%, 3M LIBOR + 0.550%, 12/20/20 (144A) (b)		2,200,000	$	2,202,602
				8,639,633
Home Builders—0.0%
DR Horton, Inc. 3.750%, 03/01/19		100,000		100,459
Machinery-Diversified—0.4%
John Deere Capital Corp. 2.538%, 3M LIBOR + 0.290%, 06/22/20 (b)		8,800,000		8,805,847
Media—0.0%
Sky plc 2.625%, 09/16/19 (144A)		100,000		99,579
Time Warner Cable LLC 5.000%, 02/01/20		200,000		205,415
8.250%, 04/01/19		100,000		104,944
				409,938
Miscellaneous Manufacturing—0.2%
Textron, Inc. 2.361%, 3M LIBOR + 0.550%, 11/10/20 (b)		4,620,000		4,615,016
Oil & Gas—0.7%
Gazprom OAO Via Gaz Capital S.A. 3.375%, 11/30/18 (CHF)		150,000		159,932
4.625%, 10/15/18 (EUR)		980,000		1,231,434
Petrobras Global Finance B.V. 4.375%, 05/20/23		300,000		294,390
5.299%, 01/27/25 (144A)		5,418,000		5,350,275
5.999%, 01/27/28 (144A)		2,918,000		2,888,820
6.125%, 01/17/22		5,000,000		5,335,000
6.250%, 03/17/24		500,000		527,750
6.250%, 12/14/26 (GBP)		400,000		599,869
8.375%, 12/10/18		900,000		930,609
				17,318,079
Pharmaceuticals—0.0%
EMD Finance LLC 2.950%, 03/19/22 (144A)		40,000		39,390
Teva Pharmaceutical Finance IV LLC 2.250%, 03/18/20		100,000		94,764
				134,154
Pipelines—0.5%
Enable Midstream Partners L.P. 2.400%, 05/15/19		100,000		98,939
Enbridge, Inc. 2.108%, 3M LIBOR + 0.400%, 01/10/20 (b)		4,700,000		4,690,271
2.825%, 3M LIBOR + 0.700%, 06/15/20 (b)		5,600,000		5,621,424
Kinder Morgan Energy Partners L.P. 9.000%, 02/01/19		100,000		104,805
Pipelines—(Continued)
Kinder Morgan, Inc. 7.250%, 06/01/18		300,000		301,972
Plains All American Pipeline L.P. / PAA Finance Corp. 2.600%, 12/15/19		100,000		98,706
Regency Energy Partners L.P. / Regency Energy Finance Corp. 5.750%, 09/01/20		100,000		104,594
Sabine Pass Liquefaction LLC 5.625%, 02/01/21		100,000		105,140
Spectra Energy Partners L.P. 2.725%, 3M LIBOR + 0.700%, 06/05/20 (b)		600,000		604,012
TransCanada PipeLines, Ltd. 3.800%, 10/01/20		600,000		610,979
				12,340,842
Real Estate—0.0%
Akelius Residential Property AB 3.375%, 09/23/20 (EUR)		100,000		132,148
Real Estate Investment Trusts—0.2%
American Tower Corp. 2.800%, 06/01/20		300,000		297,790
Unibail-Rodamco SE 2.492%, 3M LIBOR + 0.770%, 04/16/19 (b)		5,800,000		5,820,660
				6,118,450
Software—0.0%
VMware, Inc. 2.950%, 08/21/22		450,000		431,258
3.900%, 08/21/27		300,000		283,992
				715,250
Telecommunications—0.5%
AT&T, Inc. 2.372%, 3M LIBOR + 0.650%, 01/15/20 (b)		3,890,000		3,904,294
2.672%, 3M LIBOR + 0.950%, 07/15/21 (b)		6,200,000		6,265,617
5.150%, 02/14/50		2,200,000		2,222,377
5.300%, 08/14/58		700,000		705,852
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.360%, 09/20/21 (144A)		87,500		86,953
Telefonica Emisiones S.A.U. 5.877%, 07/15/19		400,000		414,861
				13,599,954
Transportation—0.0%
AP Moeller - Maersk A/S 2.550%, 09/22/19 (144A)		100,000		99,466
Ryder System, Inc. 2.450%, 09/03/19		100,000		99,267
				198,733
Total Corporate Bonds & Notes (Cost $183,833,306)				184,366,664

BHFTI-293

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—1.7%

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—1.4%
Banc of America Funding Trust 2.042%, 1M LIBOR + 0.220%, 07/20/36 (b)		85,795	$	85,871
3.642%, 02/20/36 (b)		587,537		582,432
Banc of America Mortgage Trust 3.581%, 09/25/35 (b)		79,286		77,141
3.778%, 06/25/35 (b)		157,172		148,213
3.939%, 11/25/34 (b)		32,909		33,921
Bear Stearns Adjustable Rate Mortgage Trust 3.660%, 03/25/35 (b)		277,640		271,882
Bear Stearns ALT-A Trust 2.032%, 1M LIBOR + 0.160%, 02/25/34 (b)		159,593		148,563
3.589%, 09/25/35 (b)		1,030,757		910,581
Chase Mortgage Finance Trust 3.458%, 02/25/37 (b)		61,310		60,951
Citigroup Mortgage Loan Trust 1.821%, 1M LIBOR + 0.200%, 06/25/47 (144A) (b)		1,819,844		1,820,323
3.128%, 08/25/35 (b)		43,468		42,975
3.430%, 1Y CMT + 2.400%, 05/25/35 (b)		24,899		25,023
Countrywide Alternative Loan Trust 2.002%, 1M LIBOR + 0.180%, 02/20/47 (b)		909,300		738,885
2.052%, 1M LIBOR + 0.180%, 05/25/47 (b)		267,720		260,217
2.152%, 1M LIBOR + 0.280%, 12/25/35 (b)		26,327		25,099
5.500%, 06/25/25		504,203		492,654
Countrywide Home Loan Mortgage Pass-Through Trust 2.452%, 1M LIBOR + 0.580%, 04/25/35 (b)		620,106		586,660
3.412%, 08/25/34 (b)		115,260		108,529
3.560%, 11/20/34 (b)		178,682		177,893
3.707%, 11/19/33 (b)		15,907		16,057
Countrywide Home Reperforming Loan REMIC Trust 2.212%, 1M LIBOR + 0.340%, 06/25/35 (144A) (b)		81,308		78,155
Credit Suisse Mortgage Capital Certificates 2.061%, 1M LIBOR + 0.500%, 11/30/37 (144A) (b)		2,600,000		2,268,717
5.561%, 10/26/36 (144A) (b)		135,361		122,746
Deutsche ALT-B Securities Mortgage Loan Trust 1.972%, 1M LIBOR + 0.100%, 10/25/36 (b)		23,403		18,131
5.869%, 10/25/36		412,502		389,354
5.886%, 10/25/36		412,502		389,348
Eurosail-UK plc 1.554%, 3M GBP LIBOR + 0.950%, 06/13/45 (GBP) (b)		2,536,181		3,532,234
First Horizon Alternative Mortgage Securities Trust 3.342%, 06/25/34 (b)		164,389		163,234
GreenPoint Mortgage Funding Trust 2.412%, 1M LIBOR + 0.540%, 11/25/45 (b)		163,640		144,428
GreenPoint MTA Trust 2.312%, 1M LIBOR + 0.440%, 06/25/45 (b)		290,724		277,088
GSR Mortgage Loan Trust 3.552%, 12/25/34 (b)		907,622		913,930
3.614%, 09/25/35 (b)		228,588		233,159
3.635%, 05/25/35 (b)		402,718		395,723
3.734%, 11/25/35 (b)		508,856		471,770
3.775%, 01/25/35 (b)		155,558		153,437
HarborView Mortgage Loan Trust 2.248%, 1M LIBOR + 0.440%, 05/19/35 (b)		76,170		73,161
2.368%, 1M LIBOR + 0.560%, 02/19/36 (b)		158,120		134,526
2.422%, 1M LIBOR + 0.600%, 06/20/35 (b)		393,939		388,547
Collateralized Mortgage Obligations—(Continued)
IndyMac INDA Mortgage Loan Trust 3.853%, 11/25/35 (b)		276,639		263,720
JPMorgan Mortgage Trust 3.161%, 07/27/37 (144A) (b)		736,210		717,308
3.580%, 06/25/35 (b)		585,115		580,276
3.647%, 08/25/35 (b)		318,786		310,628
3.676%, 07/25/35 (b)		165,276		168,863
3.702%, 02/25/35 (b)		243,274		241,158
3.702%, 09/25/35 (b)		67,163		66,345
3.704%, 07/25/35 (b)		155,486		159,295
3.754%, 08/25/35 (b)		247,238		248,798
Lehman XS Trust 2.142%, 1M LIBOR + 0.270%, 12/25/35 (b)		152,170		151,116
MASTR Adjustable Rate Mortgages Trust 3.153%, 12/25/33 (b)		105,932		103,670
3.469%, 11/21/34 (b)		151,788		155,686
Mellon Residential Funding Corp. Mortgage Pass-Through Trust 2.217%, 1M LIBOR + 0.440%, 12/15/30 (b)		28,222		27,326
2.477%, 1M LIBOR + 0.700%, 11/15/31 (b)		173,955		173,941
Merrill Lynch Mortgage Investors Trust 2.122%, 1M LIBOR + 0.250%, 11/25/35 (b)		31,922		30,836
2.664%, 1M LIBOR + 1.000%, 10/25/35 (b)		109,752		104,705
3.386%, 12/25/35 (b)		163,392		150,306
National Credit Union Administration Guaranteed Notes 2.161%, 1M LIBOR + 0.450%, 10/07/20 (b)		1,441,108		1,446,368
2.181%, 1M LIBOR + 0.560%, 12/08/20 (b)		3,194,377		3,213,444
Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates 2.922%, 1M LIBOR + 1.050%, 04/25/35 (b)		2,000,000		1,886,926
Residential Accredit Loans, Inc. 2.221%, 1M LIBOR + 0.300%, 08/25/35 (b)		120,418		106,714
2.643%, 12M MTA + 1.360%, 09/25/45 (b)		122,551		116,184
Sequoia Mortgage Trust 2.022%, 1M LIBOR + 0.200%, 07/20/36 (b)		909,748		866,663
2.508%, 1M LIBOR + 0.700%, 10/19/26 (b)		41,279		41,509
Structured Adjustable Rate Mortgage Loan Trust 2.682%, 12M MTA + 1.400%, 01/25/35 (b)		95,368		89,036
3.689%, 02/25/34 (b)		115,957		116,905
3.809%, 12/25/34 (b)		84,724		83,821
Structured Asset Mortgage Investments II Trust 2.058%, 1M LIBOR + 0.250%, 07/19/35 (b)		158,245		150,747
2.062%, 1M LIBOR + 0.190%, 06/25/36 (b)		83,224		81,932
2.082%, 1M LIBOR + 0.210%, 05/25/36 (b)		38,883		32,523
2.468%, 1M LIBOR + 0.660%, 10/19/34 (b)		78,081		75,242
Swan Trust 3.110%, BBSW1M + 1.300%, 04/25/41 (AUD) (b)		121,717		94,805
TBW Mortgage-Backed Trust 6.015%, 07/25/37		243,988		178,539
Thrones plc 2.023%, 3M GBP LIBOR + 1.500%, 07/20/44 (GBP) (b)		35,466		49,852
WaMu Mortgage Pass-Through Certificates Trust 2.011%, 12M MTA + 0.810%, 12/25/46 (b)		83,276		81,875
2.053%, 12M MTA + 0.770%, 05/25/47 (b)		369,234		351,461
2.277%, COFI + 1.500%, 07/25/46 (b)		583,134		569,231

BHFTI-294

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Shares/ Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
WaMu Mortgage Pass-Through Certificates Trust 2.277%, COFI + 1.500%, 11/25/46 (b)		184,401	$	174,108
2.283%, 12M MTA + 1.000%, 02/25/46 (b)		144,652		141,515
2.283%, 12M MTA + 1.000%, 08/25/46 (b)		5,488,142		5,125,120
2.483%, 12M MTA + 1.200%, 11/25/42 (b)		19,209		18,224
3.353%, 12/25/35 (b)		129,769		119,543
3.468%, 08/25/35 (b)		69,053		65,118
Wells Fargo Mortgage-Backed Securities Trust 3.528%, 09/25/34 (b)		179,556		183,585
3.603%, 04/25/36 (b)		407,288		412,418
3.707%, 11/25/34 (b)		101,840		102,697
3.760%, 03/25/36 (b)		76,943		74,094
4.153%, 04/25/36 (b)		184,278		170,703
				36,636,437
Commercial Mortgage-Backed Securities—0.3%
GS Mortgage Securities Trust 4.592%, 08/10/43 (144A)		25,000		25,778
Vornado DP LLC Trust 4.004%, 09/13/28 (144A)		7,000,000		7,193,388
				7,219,166
Total Mortgage-Backed Securities (Cost $40,109,733)				43,855,603
Municipals—0.1%
South Carolina Student Loan Corp. 2.146%, 12/01/23 (b)		898,100		894,552
Tobacco Settlement Finance Authority 7.467%, 06/01/47		710,000		703,078
Total Municipals (Cost $1,577,416)				1,597,630
Convertible Preferred Stock—0.0%
Banks—0.0%
Wells Fargo & Co., Series L 7.500%, 12/31/49 (Cost $900,000)		900		1,161,000
Floating Rate Loans (j)—0.0%
Hotels, Restaurants & Leisure—0.0%
Las Vegas Sands LLC Term Loan B, 3.627%, 3M LIBOR + 1.750%, 03/27/25		98,492		98,839
Pipelines—0.0%
Cheniere Energy Partners, L.P. Delayed Draw Term Loan, 4.127%, 1M LIBOR + 2.250%, 02/25/20		200,000		200,125
Total Floating Rate Loans (Cost $298,703)				298,964
Short-Term Investments—26.5%
Security Description	Principal Amount*		Value
Certificate of Deposit—0.6%
Barclays Bank plc 1.940%, 09/04/18		10,000,000		9,977,281
2.355%, 3M LIBOR + 0.470%, 05/17/18 (b)		7,100,000		7,104,352
				17,081,633
Commercial Paper—2.6%
Bank of Montreal 0.746%, 04/02/18		11,600,000		9,002,234
Bank of Nova Scotia (The) 0.751%, 04/02/18 (CAD)		16,600,000		12,882,507
1.189%, 04/05/18 (CAD)		11,804,000		9,159,450
1.238%, 04/06/18 (CAD)		1,296,000		1,005,606
1.346%, 04/09/18 (CAD)		4,200,000		3,258,517
C.I.B.C. 1.362%, 04/12/18 (CAD)		3,500,000		2,715,077
1.394%, 04/16/18 (CAD)		10,900,000		8,454,173
HSBC Bank Canada 1.361%, 04/10/18 (CAD)		1,000,000		775,798
1.377%, 04/11/18 (CAD)		1,200,000		930,921
1.395%, 04/13/18 (CAD)		1,300,000		1,008,417
Mondelez International, Inc. 2.520%, 05/04/18		10,000,000		9,977,020
Royal Bank of Canada 1.151%, 04/05/18 (CAD)		1,300,000		1,008,750
1.323%, 04/09/18 (CAD)		6,700,000		5,198,110
1.404%, 04/18/18 (CAD)		1,000,000		775,542
Toronto-Dominion Bank 0.753%, 04/02/18		4,900,000		3,802,668
				69,954,790
Foreign Government—5.9%
Argentina Treasury Bills 2.735%, 05/24/18 (k)		300,000		298,706
2.741%, 05/11/18 (k)		400,000		398,716
2.771%, 06/15/18 (k)		342,000		339,876
2.780%, 06/29/18 (k)		436,000		432,744
2.780%, 07/13/18 (k)		1,600,000		1,586,122
3.034%, 09/28/18 (k)		1,200,000		1,181,478
3.045%, 10/26/18 (k)		600,000		589,191
3.046%, 11/16/18 (k)		2,212,000		2,168,264
Japan Treasury Bills 0.000%, 04/09/18 (JPY) (k)		3,307,300,000		31,082,839
0.000%, 04/23/18 (JPY) (k)		20,500,000		192,676
0.000%, 05/01/18 (JPY) (k)		4,770,000,000		44,834,369
0.000%, 05/07/18 (JPY) (k)		22,700,000		213,368
0.000%, 05/14/18 (JPY) (k)		2,527,300,000		23,756,050
0.000%, 05/21/18 (JPY) (k)		4,033,700,000		37,917,007
United Kingdom Treasury Bills 0.127%, 04/03/18 (GBP) (k)		1,100,000		1,543,301
0.224%, 04/20/18 (GBP) (k) (l)		5,600,000		7,855,413
				154,390,120

BHFTI-295

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreement—17.4%
JPMorgan Securities LLC Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $459,430,627; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 2.125%, maturity dates ranging from 04/15/19 - 05/15/25, and an aggregate market value of $466,666,665.		459,400,000	$	459,400,000
U.S. Treasury—0.0%
U.S. Treasury Bill 0.939%, 04/19/18 (f) (g) (k)		302,000		301,767
Total Short-Term Investments (Cost $699,563,692)				701,128,310
Total Purchased Options—0.1% (m) (Cost $2,081,148)				1,671,034
Total Investments—168.5% (Cost $4,516,741,752)				4,434,621,026
Other assets and liabilities (net)—(69.7)%				(1,802,996,934	)
Net Assets—100.0%			$	2,631,624,092

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	All or a portion of this security has been transferred in a secured-borrowing transaction.
(d)	Principal amount of security is adjusted for inflation.
(e)	All or a portion of the security was pledged as collateral against open reverse repurchase agreements. As of March 31, 2018, the value of securities pledged amounted to $8,621,873.
(f)	All or a portion of the security was pledged as collateral against open swap contracts and open forward foreign currency exchange contracts. As of March 31, 2018, the market value of securities pledged was $4,746,334.
(g)	All or a portion of the security was pledged as collateral against open secured borrowing transactions. As of December 31, 2017, the value of securities pledged amounted to $779,464.
(h)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $14,945,069.
(i)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $4,279,886.
(j)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(k)	The rate shown represents current yield to maturity.
(l)	Illiquid security. As of March 31, 2018, these securities represent 0.4% of net assets.
(m)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $242,279,564, which is 9.2% of net assets.

Reverse Repurchase Agreement

Counterparty

Interest Rate

Settlement Date

Maturity Date

Principal Amount

Net Closing Amount

JPMorgan Chase Bank N.A.

1.700

%

03/22/18

04/05/18

USD

8,526,000

$

8,526,000

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments.

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 30 Yr. Pool		3.000	%		TBA	$	(52,700,000	)	$	(50,977,688	)	$	(51,398,969	)

Forward Sales Commitments

Security Description	Interest Rate			Maturity		Face Amount				Cost			Value
United Kingdom Gilt Inflation Linked Bond		0.125	%		03/22/46		GBP	(2,236,039	)	$	(4,869,857	)	$	(5,104,167	)

BHFTI-296

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
ARS	47,635,854	CBNA		04/05/18		USD	2,315,793	$	49,013
ARS	47,635,854	JPMC		05/02/18		USD	2,325,969		5,502
ARS	892,000	BNP		05/16/18		USD	43,790		(448	)
ARS	992,000	JPMC		05/16/18		USD	48,867		(667	)
ARS	60,661,899	BNP		05/23/18		USD	2,896,939		39,931
ARS	2,967,000	BNP		06/21/18		USD	148,054		(6,636	)
ARS	5,395,000	SG		08/22/18		USD	260,000		(11,044	)
AUD	27,951,000	DBAG		04/04/18		USD	21,631,279		(163,520	)
CAD	22,338,000	JPMC		04/04/18		USD	17,353,947		(14,798	)
COP	18,737,980,250	GSBU		07/17/18		USD	6,503,308		175,547
EUR	52,626,195	CSI		04/04/18		USD	65,177,543		(423,657	)
EUR	7,295,000	DBAG		04/04/18		USD	9,004,218		(28,088	)
GBP	3,263,000	CBNA		04/04/18		USD	4,532,507		45,484
GBP	17,174,000	CBNA		04/04/18		USD	23,968,493		126,642
GBP	862,000	GSBU		04/04/18		USD	1,218,639		(9,253	)
GBP	7,059,000	GSBU		04/04/18		USD	9,796,815		106,967
GBP	27,465,000	GSBU		04/04/18		USD	38,718,578		(185,163	)
GBP	5,031,000	JPMC		04/04/18		USD	6,928,042		130,454
GBP	7,470,000	JPMC		04/04/18		USD	10,385,433		94,982
IDR	53,125,795,000	JPMC		06/20/18		USD	3,865,100		(30,658	)
INR	638,454,027	UBSA		06/20/18		USD	9,797,123		(97,350	)
JPY	2,031,871,643	UBSA		04/04/18		USD	19,346,552		(249,709	)
KRW	1,854,484,800	GSBU		06/20/18		USD	1,720,301		24,286
MXN	2,709,000	UBSA		05/10/18		USD	147,524		640
MYR	506,797	GSBU		06/20/18		USD	128,989		1,729
NZD	15,376,000	UBSA		04/04/18		USD	11,211,041		(98,806	)
RUB	369,507,040	DBAG		04/18/18		USD	6,498,827		(59,729	)
RUB	369,507,040	CBNA		04/27/18		USD	6,395,068		37,735
RUB	155,572,855	CSI		05/25/18		USD	2,746,696		(46,850	)
ZAR	35,762,000	CBNA		05/08/18		USD	2,975,861		30,448
Contracts to Deliver
ARS	47,635,854	JPMC		04/05/18		USD	2,353,550		(11,255	)
AUD	27,951,000	JPMC		04/04/18		USD	21,615,677		147,918
AUD	27,951,000	DBAG		05/03/18		USD	21,633,571		165,569
BRL	97,200,000	BNP		07/03/18		USD	27,731,812		(1,476,674	)
BRL	83,600,000	DBAG		07/03/18		USD	23,913,673		(1,208,029	)
BRL	28,300,000	DBAG		07/03/18		USD	8,540,045		35,928
CAD	4,700,000	CBNA		04/02/18		USD	3,660,894		12,817
CAD	23,500,000	GSBU		04/02/18		USD	18,223,351		(17,034	)
CAD	4,900,000	UBSA		04/02/18		USD	3,785,353		(17,961	)
CAD	22,338,000	GSBU		04/04/18		USD	17,632,321		293,173
CAD	11,804,000	JPMC		04/05/18		USD	9,112,058		(50,597	)
CAD	1,300,000	JPMC		04/05/18		USD	993,302		(15,801	)
CAD	1,296,000	UBSA		04/06/18		USD	1,000,395		(5,623	)
CAD	1,500,000	GSBU		04/09/18		USD	1,158,890		(5,553	)
CAD	4,200,000	SG		04/09/18		USD	3,274,367		13,927
CAD	5,200,000	UBSA		04/09/18		USD	4,051,075		14,340
CAD	1,000,000	GSBU		04/10/18		USD	779,660		3,350
CAD	1,200,000	GSBU		04/11/18		USD	927,693		(3,897	)
CAD	3,500,000	GSBU		04/12/18		USD	2,700,052		(17,140	)
CAD	1,200,000	BNP		04/13/18		USD	927,907		(3,720	)
CAD	6,900,000	GSBU		04/16/18		USD	5,273,195		(83,975	)
CAD	4,000,000	GSBU		04/16/18		USD	3,064,097		(41,508	)
CAD	1,000,000	BNP		04/18/18		USD	766,119		(10,312	)
CAD	22,338,000	JPMC		05/03/18		USD	17,363,389		14,413

BHFTI-297

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
CHF	155,000	JPMC		05/15/18		USD	167,336	$	4,659
CNH	1,362,900	GSBU		06/20/18		USD	214,525		(2,001	)
DKK	390,000	CBNA		04/03/18		USD	62,004		(2,367	)
DKK	4,141,000	GSBU		04/03/18		USD	634,199		(49,293	)
EUR	52,626,195	DBAG		04/04/18		USD	65,039,136		285,250
EUR	7,295,000	GSBU		04/04/18		USD	9,039,684		63,553
EUR	4,000,000	BBP		04/13/18		USD	4,964,426		39,522
EUR	6,180,000	DBAG		04/13/18		USD	7,633,079		24,102
EUR	4,700,000	UBSA		04/13/18		USD	5,808,993		22,231
EUR	3,500,000	CBNA		04/30/18		USD	4,340,875		26,333
EUR	52,626,195	CSI		05/03/18		USD	65,312,529		424,888
EUR	7,295,000	DBAG		05/03/18		USD	9,022,784		28,113
GBP	1,100,000	JPMC		04/03/18		USD	1,530,130		(13,170	)
GBP	68,324,000	CBNA		04/04/18		USD	96,091,591		232,969
GBP	3,300,000	BBP		04/20/18		USD	4,618,491		(14,546	)
GBP	2,300,000	CBNA		04/20/18		USD	3,218,466		(10,620	)
GBP	27,465,000	GSBU		05/03/18		USD	38,764,260		183,332
INR	156,978,000	CBNA		06/20/18		USD	2,385,829		926
JPY	2,031,871,643	BNP		04/04/18		USD	19,034,247		(62,596	)
JPY	2,884,300,000	CBNA		04/09/18		USD	27,293,933		176,879
JPY	423,000,000	CBNA		04/09/18		USD	3,993,433		16,554
JPY	20,500,000	UBSA		04/23/18		USD	194,128		1,249
JPY	1,110,000,000	CBNA		05/01/18		USD	10,203,191		(244,986	)
JPY	1,000,000,000	CBNA		05/01/18		USD	9,192,148		(220,624	)
JPY	1,000,000,000	CBNA		05/01/18		USD	9,191,176		(221,595	)
JPY	700,000,000	CBNA		05/01/18		USD	6,457,565		(131,376	)
JPY	960,000,000	UBSA		05/01/18		USD	8,818,666		(217,595	)
JPY	2,031,871,643	UBSA		05/02/18		USD	19,381,893		255,325
JPY	22,700,000	CBNA		05/07/18		USD	215,163		1,424
JPY	357,300,000	BNP		05/14/18		USD	3,355,398		(10,598	)
JPY	2,170,000,000	CBNA		05/14/18		USD	19,963,201		(479,597	)
JPY	3,250,000,000	CBNA		05/21/18		USD	30,644,910		12,045
JPY	783,700,000	GSBU		05/21/18		USD	7,380,877		(5,885	)
KRW	7,560,778,500	UBSA		06/20/18		USD	7,142,918		30,192
MXN	68,359,550	CBNA		05/10/18		USD	3,621,525		(117,268	)
NZD	15,376,000	JPMC		04/04/18		USD	11,274,415		162,180
NZD	15,376,000	UBSA		05/03/18		USD	11,209,289		97,929
RUB	369,507,040	CBNA		04/18/18		USD	6,401,716		(37,381	)
RUB	527,713,760	SG		06/07/18		USD	9,057,520		(87,215	)
ZAR	35,152,522	GSBU		05/08/18		USD	2,905,000		(50,073	)
Net Unrealized Depreciation								$	(2,713,791	)

Futures Contracts

Futures Contracts – Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		06/18/18		16		USD	3,908,000	$	(9,220	)
90 Day Eurodollar Futures		09/17/18		16		USD	3,905,000		(7,421	)
90 Day Eurodollar Futures		12/17/18		16		USD	3,900,200		(7,821	)
90 Day Eurodollar Futures		03/18/19		16		USD	3,896,400		(8,820	)
90 Day Eurodollar Futures		06/17/19		16		USD	3,893,000		(9,820	)
90 Day Eurodollar Futures		09/16/19		16		USD	3,891,000		(9,820	)
90 Day Eurodollar Futures		12/16/19		16		USD	3,888,600		(10,420	)
Call Options on Euro-OAT Futures, Strike EUR 170.000		05/25/18		112		EUR	1,120		(119	)

BHFTI-298

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts – Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Euro-Bund Futures		06/07/18		135			EUR	21,523,050		$	435,399
U.S. Treasury Note 5 Year Futures		06/29/18		119			USD	13,620,852			71,601
Futures Contracts—Short
Australian 10 Year Treasury Bond Futures		06/15/18		(57	)		AUD	(7,388,163	)		(104,098	)
Put Options on Euro-Bobl Futures, Strike EUR 129.00		05/25/18		(148	)		EUR	(1,480	)		55,035
Put Options on Euro-Bobl Futures, Strike EUR 130.00		05/25/18		(148	)		EUR	(6,660	)		50,962
Euro-BTP Futures		06/07/18		(46	)		EUR	(6,384,340	)		(128,117	)
Euro-BTP Short-Term Futures		06/07/18		(60	)		EUR	(6,766,800	)		(14,829	)
Euro-OAT Futures		06/07/18		(345	)		EUR	(53,333,550	)		(1,176,861	)
Japanese Government 10 Year Bond Futures		06/13/18		(93	)		JPY	(14,021,610,000	)		(57,121	)
U.S. Treasury Long Bond Futures		06/20/18		(554	)		USD	(81,230,250	)		(2,047,373	)
U.S. Treasury Note 10 Year Futures		06/20/18		(344	)		USD	(41,672,375	)		(339,613	)
U.S. Treasury Ultra Long Bond Futures		06/20/18		(9	)		USD	(1,444,219	)		(47,403	)
United Kingdom Long Gilt Bond Futures		06/27/18		(396	)		GBP	(48,636,720	)		(1,217,737	)
Net Unrealized Depreciation										$	(4,583,616	)

Purchased Options

Interest Rate Capped Options	Exercise Rate	Counterparty		Floating Rate Index	Expiration Date		Number of Contracts	Notional Amount			Premiums Paid		Market Value		Unrealized (Depreciation)
Put - OTC - 1Y Interest Rate Floor	0.170		MSCS	3M LIBOR		04/03/18	137,500,000		USD	137,500,000	$	41,250	$	—	$	(41,250	)
Put - OTC - 1Y Interest Rate Floor	0.174		MSCS	3M LIBOR		06/11/18	86,400,000		USD	86,400,000		34,560		3,051		(31,509	)
Totals											$	75,810	$	3,051	$	(72,759	)

Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/ Receive Floating Rate	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Call - OTC - 30-Year Interest Rate Swap	2.150%	DBAG	3M LIBOR	Pay		06/15/18		8,200,000		USD	8,200,000	$	820,950	$	2,782	$	(818,168	)
Put - OTC - 10-Year Interest Rate Swap	2.765%	MSCS	3M LIBOR	Receive		07/16/18		30,350,000		USD	30,350,000		352,060		468,361		116,301
Put - OTC - 30-Year Interest Rate Swap	2.150%	DBAG	3M LIBOR	Receive		06/15/18		8,200,000		USD	8,200,000		820,950		1,179,820		358,870
Totals												$	1,993,960	$	1,650,963	$	(342,997	)

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Call - U.S. Treasury Bond Futures	$	175.000		05/25/18		348		USD	348,000	$	2,926	$	5,438	$	2,512
Call - U.S. Treasury Bond Futures		174.000		05/25/18		159		USD	159,000		1,304		2,484		1,181
Call - U.S. Treasury Bond Futures		177.000		05/25/18		93		USD	93,000		762		93		(670	)
Call - U.S. Treasury Note 10 Year Futures		131.500		05/25/18		508		USD	508,000		4,189		7,937		3,749
Call - U.S. Treasury Note 10 Year Futures		132.000		05/25/18		120		USD	120,000		1,026		120		(906	)
Call - U.S. Treasury Note 10 Year Futures		133.000		05/25/18		18		USD	18,000		154		18		(136	)
Put - U.S. Treasury Note 5 Year Futures		107.750		05/25/18		117		USD	117,000		1,000		914		(86	)
Put - U.S. Treasury Note 5 Year Futures		108.000		05/25/18		2		USD	2,000		17		16		(1	)
Totals										$	11,378	$	17,020	$	5,643

BHFTI-299

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Written Options

OTC Options on Securities	Counterparty	Strike Price	Expiration Date	Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - Fannie Mae 30 Yr. 3.000%, TBA	JPMC	$99.875	05/07/18		(30,200,000	)		USD	(30,200,000	)	$	(138,023	)	$	(176,232	)	$	(38,209	)
Put - Fannie Mae 30 Yr. 3.500%, TBA	JPMC	$98.875	05/07/18		(30,200,000	)		USD	(30,200,000	)		(148,641	)		(34,908	)		113,733
Total											$	(286,664	)	$	(211,140	)	$	75,524

Inflation Capped Options	Initial Index	Counterparty	Exercise Index	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Cap - CPI-U Index	233.916	JPMC	Maximum of [(Final Index/Initial Index) - (1 - 4.000%)]10 or 0		04/22/24		(35,000,000	)		USD	(35,000,000	)	$	(254,625	)	$	(2,975	)	$	251,650
Cap - CPI-U Index	234.781	JPMC	Maximum of [(Final Index/Initial Index) - (1 - 4.000%)]10 or 0		05/16/24		(2,800,000	)		USD	(2,800,000	)		(19,460	)		(255	)		19,205
Cap - HICP Index	100.151	GSBU	Maximum of [(Final Index/Initial Index) - (1 - 3.000%)]10 or 0		06/22/35		(8,700,000	)		EUR	(8,700,000	)		(395,798	)		(42,025	)		353,773
Floor - OTC CPURNSA Index	0.000	MSCS	Maximum of ((1 + 0.000%)10 - (Final Index/Initial Index)] or 0		01/02/20		(201,300,000	)		USD	(201,300,000	)		(156,008	)		(272,764	)		(116,756	)
Floor - OTC CPURNSA Index	216.687	CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		04/07/20		(49,000,000	)		USD	(49,000,000	)		(436,720	)		—			436,720
Floor - OTC CPURNSA Index	217.965	CBNA	Maximum of [(1 + 0.000%)10 - (Final Index/Initial Index)] or 0		09/29/20		(4,700,000	)		USD	(4,700,000	)		(60,630	)		—			60,630
Floor - OTC YOY CPURNSA Index	234.812	JPMC	Maximum of [0.000% -(Final Index/Initial Index -1)] or 0		03/24/20		(33,500,000	)		USD	(33,500,000	)		(378,550	)		(48,106	)		330,444
Floor - OTC YOY CPURNSA Index	238.643	JPMC	Maximum of [0.000% -(Final Index/Initial Index -1)] or 0		10/02/20		(14,900,000	)		USD	(14,900,000	)		(275,009	)		(33,753	)		241,256
Totals													$	(1,976,800	)	$	(399,878	)	$	1,576,922

Interest Rate Capped Options	Exercise Rate	Counterparty		Floating Rate Index	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Put - OTC - 1Y Interest Rate Floor	0.155		MSCS	3M LIBOR		04/03/18		(137,500,000	)		USD	(137,500,000	)	$	(49,500	)	$	—		$	49,500
Put - OTC - 1Y Interest Rate Floor	0.155		MSCS	3M LIBOR		06/11/18		(86,400,000	)		USD	(86,400,000	)		(34,560	)		(2,287	)		32,273
														$	(84,060	)	$	(2,287	)	$	81,773

BHFTI-300

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Written Options—(Continued)

Credit Default Swaptions	Strike Rate			Counterparty	Reference Obligation	Buy/Sell Protection	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Put - 5 Yr. CDS		0.700	%	DBAG	ITRX.EUR.28	Sell		04/18/18		(13,900,000	)		EUR	(13,900,000	)	$	(14,355	)	$	(2,315	)	$	12,040
Put - 5 Yr. CDS		0.850	%	CBNA	CDX.NA.IG.29	Sell		04/18/18		(32,800,000	)		USD	(32,800,000	)		(39,360	)		(3,713	)		35,647
Put - 5 Yr. CDS		0.800	%	CSI	CDX.NA.IG.29	Sell		05/16/18		(7,500,000	)		USD	(7,500,000	)		(10,315	)		(3,940	)		6,375
Put - 5 Yr. CDS		0.950	%	BBP	CDX.NA.IG.30	Sell		07/18/18		(3,600,000	)		USD	(3,600,000	)		(6,192	)		(5,066	)		1,126
Put - 5 Yr. CDS		0.900	%	CBNA	CDX.NA.IG.30	Sell		06/20/18		(4,400,000	)		USD	(4,400,000	)		(5,170	)		(5,100	)		70
Call - 5 Yr. CDS		0.475	%	DBAG	ITRX.EUR.28	Buy		04/18/18		(13,900,000	)		EUR	(13,900,000	)		(13,159	)		(5,464	)		7,695
Put - 5 Yr. CDS		0.950	%	DBAG	CDX.NA.IG.30	Sell		07/18/18		(3,900,000	)		USD	(3,900,000	)		(6,484	)		(5,488	)		996
Put - 5 Yr. CDS		0.700	%	CBNA	CDX.NA.IG.29	Sell		04/18/18		(31,200,000	)		USD	(31,200,000	)		(40,560	)		(9,875	)		30,685
Put - 5 Yr. CDS		0.900	%	BNP	CDX.NA.IG.30	Sell		06/20/18		(8,600,000	)		USD	(8,600,000	)		(13,010	)		(9,967	)		3,043
Put - 5 Yr. CDS		0.850	%	GSI	CDX.NA.IG.30	Sell		06/20/18		(8,600,000	)		USD	(8,600,000	)		(13,760	)		(12,055	)		1,705
Call - 5 Yr. CDS		0.500	%	BBP	ITRX.EUR.29	Buy		06/20/18		(30,200,000	)		EUR	(30,200,000	)		(18,492	)		(13,515	)		4,977
Put - 5 Yr. CDS		0.900	%	JPMC	CDX.NA.IG.30	Sell		06/20/18		(12,300,000	)		USD	(12,300,000	)		(15,207	)		(14,256	)		951
Put - 5 Yr. CDS		0.800	%	BBP	ITRX.EUR.29	Sell		06/20/18		(30,200,000	)		EUR	(30,200,000	)		(54,552	)		(49,389	)		5,163
Totals																$	(250,616	)	$	(140,143	)	$	110,473

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Put - U.S. Treasury Bond Futures	$	143.000		04/20/18		(64	)		USD	(64,000	)	$	(55,923	)	$	(8,000	)	$	47,923
Call - U.S. Treasury Bond Futures		145.000		04/20/18		(88	)		USD	(88,000	)		(94,160	)		(182,875	)		(88,715	)
Call - U.S. Treasury Note 10 Year Futures		121.500		04/20/18		(305	)		USD	(305,000	)		(62,142	)		(95,312	)		(33,170	)
Put - U.S. Treasury Note 10 Year Futures		120.000		04/20/18		(305	)		USD	(305,000	)		(85,039	)		(28,594	)		56,445
Totals												$	(297,264	)	$	(314,781	)	$	(17,517	)

Swap Agreements

OTC Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency		Maturity Date		Counterparty	Notional Amount			Market Value			Upfront Premium Paid/(Received)		Unrealized Depreciation(1)
Pay	3M CPURNSA	Maturity	1.788%		Maturity		07/18/26	MSCS		USD	8,800,000	$	(411,740	)	$	—	$	(411,740	)
Pay	3M CPURNSA	Maturity	1.800%		Maturity		07/20/26	MSCS		USD	6,500,000		(295,165	)		—		(295,165	)
Pay	3M CPURNSA	Maturity	1.805%		Maturity		09/20/26	MSCS		USD	2,300,000		(102,147	)		—		(102,147	)
Pay	3M CPURNSA	Maturity	1.810%		Maturity		07/19/26	MSCS		USD	12,600,000		(561,117	)		—		(561,117	)
Receive	3M CPURNSA	Annually	2.560%		Annually		05/08/23	DBAG		USD	12,300,000		(1,012,817	)		—		(1,012,817	)
Totals												$	(2,382,986	)	$	—	$	(2,382,986	)

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency		Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Pay	FRCPXT	Annually	1.350%		Annually		01/15/23		EUR	7,400,000	$	23,698		$	2,388		$	21,310
Pay	FRCPXT	Annually	1.575%		Annually		01/15/28		EUR	3,100,000		22,780			—			22,780
Pay	FRCPXT	Annually	1.590%		Annually		02/15/28		EUR	13,200,000		125,601			(376	)		125,977
Pay	FRCPXT	Annually	1.606%		Annually		02/15/28		EUR	1,920,000		22,312			—			22,312
Pay	FRCPXT	Annually	1.910%		Annually		01/15/38		EUR	2,280,000		78,753			6,477			72,276
Pay	12M CPI	Annually	2.156%		Annually		10/17/27		USD	10,000,000		(163,449	)		—			(163,449	)
Pay	12M CPI	Annually	2.335%		Annually		02/05/28		USD	13,090,000		55,637			28,402			27,235
Pay	12M HICP	Annually	1.360%		Annually		06/15/27		EUR	11,900,000		(176,176	)		(178,340	)		2,164
Pay	12M HICP	Annually	1.385%		Annually		12/15/26		EUR	4,260,000		(59,828	)		1,200			(61,028	)
Pay	12M HICP	Annually	1.520%		Annually		11/15/27		EUR	15,460,000		(4,674	)		(29,787	)		25,113
Pay	12M HICP	Annually	1.535%		Annually		03/15/28		EUR	8,200,000		12,797			—			12,797

BHFTI-301

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Pay	12M HICP	Maturity	1.946%	Maturity		03/15/48		EUR	2,100,000	$	36,791		$	5,193		$	31,598
Pay	1M UKRPI	Maturity	3.140%	Maturity		04/15/31		GBP	600,000		(41,260	)		(63,551	)		22,291
Pay	1M UKRPI	Annually	3.300%	Annually		12/15/30		GBP	4,500,000		(40,886	)		(213,641	)		172,755
Pay	1M UKRPI	Maturity	3.325%	Maturity		08/15/30		GBP	24,200,000		319,354			(197,470	)		516,824
Pay	1M UKRPI	Maturity	3.350%	Maturity		05/15/30		GBP	14,000,000		431,392			1,788			429,604
Pay	1M UKRPI	Annually	3.358%	Annually		04/15/35		GBP	2,900,000		38,386			(64,562	)		102,948
Pay	1M UKRPI	Annually	3.400%	Annually		06/15/30		GBP	18,500,000		713,188			57,523			655,665
Pay	1M UKRPI	Annually	3.470%	Annually		09/15/32		GBP	7,240,000		132,549			(23,095	)		155,644
Pay	1M UKRPI	Maturity	3.530%	Maturity		10/15/31		GBP	580,000		20,452			15,822			4,630
Pay	28-Day TIIE	Monthly	7.200%	Monthly		06/05/24		MXN	117,000,000		(81,245	)		1,242			(82,487	)
Pay	28-Day TIIE	Monthly	7.480%	Monthly		06/18/37		MXN	1,510,000		(3,650	)		54			(3,704	)
Pay	28-Day TIIE	Monthly	8.280%	Monthly		11/28/36		MXN	2,300,000		5,215			11,740			(6,525	)
Pay	3M CPURNSA	Annually	1.730%	Annually		07/26/26		USD	7,500,000		(384,185	)		(402,024	)		17,839
Pay	3M CPURNSA	Annually	1.780%	Annually		09/15/26		USD	5,000,000		(228,753	)		(242,701	)		13,948
Pay	3M CPURNSA	Annually	1.801%	Annually		09/12/26		USD	5,870,000		(255,070	)		(271,133	)		16,063
Pay	3M CPURNSA	Annually	2.063%	Annually		05/12/25		USD	400,000		(3,153	)		—			(3,153	)
Pay	3M CPURNSA	Annually	2.150%	Annually		09/25/27		USD	4,500,000		(77,518	)		—			(77,518	)
Pay	3M CPURNSA	Annually	2.180%	Annually		09/20/27		USD	4,490,000		(62,971	)		—			(62,971	)
Pay	3M LIBOR	Quarterly	1.250%	Semi-Annually		06/15/18		USD	20,600,000		(40,024	)		96,222			(136,246	)
Pay	3M LIBOR	Quarterly	2.000%	Semi-Annually		06/20/23		USD	75,900,000		(2,646,361	)		(2,932,218	)		285,857
Pay	3M LIBOR	Quarterly	2.250%	Semi-Annually		12/20/22		USD	81,000,000		(1,673,906	)		102,021			(1,775,927	)
Pay	3M LIBOR	Quarterly	2.500%	Semi-Annually		12/19/23		USD	20,900,000		(284,483	)		(168,036	)		(116,447	)
Pay	3M LIBOR	Quarterly	2.670%	Semi-Annually		11/19/23		USD	14,000,000		(76,675	)		—			(76,675	)
Pay	3M LIBOR	Quarterly	2.678%	Semi-Annually		10/25/23		USD	16,600,000		(80,629	)		—			(80,629	)
Pay	3M LIBOR	Quarterly	2.681%	Semi-Annually		12/12/23		USD	14,000,000		(72,663	)		—			(72,663	)
Pay	12M EONIA	Annually	0.050%	Annually		09/19/21		EUR	8,200,000		13,631			(8,531	)		22,162
Receive	FRCPXT	Annually	1.165%	Annually		03/15/20		EUR	9,000,000		(2,695	)		—			(2,695	)
Receive	12M CPI	Annually	2.069%	Annually		07/15/22		USD	4,500,000		42,167			—			42,167
Receive	12M CPI	Annually	2.070%	Annually		03/23/19		USD	13,480,000		7,055			781			6,274
Receive	12M CPI	Annually	2.168%	Annually		07/15/20		USD	13,200,000		47,553			—			47,553
Receive	12M CPI	Annually	2.210%	Annually		02/05/23		USD	25,780,000		47,706			—			47,706
Receive	12M HICP	Annually	1.295%	Annually		03/15/21		EUR	8,200,000		6,801			—			6,801
Receive	12M HICP	Maturity	1.710%	Maturity		03/15/33		EUR	2,100,000		(19,426	)		(2,812	)		(16,614	)
Receive	1M UKRPI	Annually	3.428%	Annually		03/15/47		GBP	8,610,000		181,610			459,191			(277,581	)
Receive	1M UKRPI	Monthly	3.585%	Monthly		10/15/46		GBP	5,230,000		(608,850	)		(398,518	)		(210,332	)
Receive	3M CPURNSA	Annually	1.550%	Annually		07/26/21		USD	7,500,000		245,830			253,846			(8,016	)
Receive	3M CPURNSA	Annually	1.603%	Annually		09/12/21		USD	5,870,000		170,814			176,800			(5,986	)
Receive	3M CPURNSA	Annually	1.680%	Annually		04/28/18		USD	65,300,000		337,558			—			337,558
Receive	1D FEDRC	Annually	2.000%	Annually		12/15/47		USD	9,630,000		745,228			22,083			723,145
Receive	3M CPURNSA	Annually	2.021%	Annually		11/25/20		USD	10,400,000		85,917			—			85,917
Receive	3M CPURNSA	Annually	2.027%	Annually		11/23/20		USD	11,000,000		89,201			—			89,201
Receive	3M LIBOR	Semi-Annually	1.750%	Quarterly		06/20/20		USD	77,900,000		1,340,643			1,524,903			(184,260	)
Receive	3M LIBOR	Semi-Annually	1.750%	Quarterly		12/21/26		USD	35,540,000		2,810,349			(1,149,612	)		3,959,961
Receive	3M LIBOR	Semi-Annually	1.850%	Quarterly		07/27/26		USD	13,350,000		586,206			—			586,206
Receive	3M LIBOR	Semi-Annually	2.000%	Quarterly		12/20/19		USD	600,000		5,326			(4,252	)		9,578
Receive	3M LIBOR	Semi-Annually	2.000%	Quarterly		07/27/26		USD	87,400,000		3,270,235			1,487,733			1,782,502
Receive	3M LIBOR	Semi-Annually	2.250%	Quarterly		06/20/28		USD	33,700,000		1,609,131			1,859,715			(250,584	)
Receive	3M LIBOR	Semi-Annually	2.300%	Quarterly		04/21/26		USD	34,400,000		835,431			—			835,431
Receive	3M LIBOR	Semi-Annually	2.300%	Quarterly		04/27/26		USD	41,300,000		1,003,282			—			1,003,282
Receive	3M LIBOR	Semi-Annually	2.400%	Quarterly		03/16/26		USD	12,900,000		256,435			—			256,435
Receive	3M LIBOR	Semi-Annually	2.400%	Quarterly		12/07/26		USD	12,100,000		246,587			137,159			109,428
Receive	3M LIBOR	Semi-Annually	2.500%	Quarterly		12/20/27		USD	7,700,000		205,130			(81,200	)		286,330
Receive	3M LIBOR	Semi-Annually	2.500%	Quarterly		06/20/48		USD	20,450,000		1,601,568			2,179,390			(577,822	)
Receive	3M LIBOR	Semi-Annually	2.750%	Quarterly		12/19/48		USD	300,000		8,221			8,036			185
Receive	3M LIBOR	Semi-Annually	3.100%	Quarterly		04/17/28		USD	54,480,000		(402,721	)		(359,082	)		(43,639	)
Receive	3M NZDBB	Semi-Annually	3.250%	Quarterly		03/21/28		NZD	8,400,000		(100,854	)		25,634			(126,488	)

BHFTI-302

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency	Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/(Received)			Unrealized Appreciation/ (Depreciation)
Receive	6M LIBOR	Semi-Annually	0.300%	Semi-Annually		09/20/27		JPY	3,280,000,000	$	(73,405	)	$	(59,362	)	$	(14,043	)
Receive	6M LIBOR	Semi-Annually	0.300%	Semi-Annually		03/20/28		JPY	450,000,000		(1,871	)		(7,027	)		5,156
Receive	6M LIBOR	Semi-Annually	0.450%	Semi-Annually		03/20/29		JPY	2,270,000,000		(172,636	)		(123,466	)		(49,170	)
Receive	6M LIBOR	Semi-Annually	1.500%	Semi-Annually		12/21/45		JPY	143,000,000		(236,387	)		(215,769	)		(20,618	)
Receive	6M LIBOR	Semi-Annually	1.500%	Semi-Annually		03/21/68		GBP	40,000		(3,394	)		(2,925	)		(469	)
Receive	6M LIBOR	Semi-Annually	1.750%	Semi-Annually		09/19/48		GBP	8,750,000		(723,971	)		(460,000	)		(263,971	)
Receive	1D FEDRC	Annually	2.428%	Annually		12/20/47		USD	2,000,000		(27,434	)		—			(27,434	)
Receive	1D FEDRC	Annually	2.478%	Annually		12/20/47		USD	4,834,000		(118,345	)		17,887			(136,232	)
Receive	1D FEDRC	Annually	2.499%	Annually		12/20/47		USD	1,590,000		(46,145	)		—			(46,145	)
Totals										$	8,842,827		$	823,740		$	8,019,087

Centrally Cleared Credit Default Swaps on Credit Indices—Buy Protection (a)

Reference Obligation	Fixed Deal (Pay) Rate		Payment Frequency		Maturity Date	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premiums Paid/(Received)		Unrealized Appreciation/ (Depreciation)
ITRX.EUR.26		(1.000%)		Quarterly	12/20/21		0.355%		EUR	13,800,000	$	(410,310)	$	(223,083)	$	(187,227)
ITRX.EUR.28		(1.000%)		Quarterly	12/20/22		0.510%		EUR	38,300,000		(1,084,280)		(1,015,148)		(69,132)
CDX.NA.HY.29		(5.000%)		Quarterly	12/20/22		3.387%		USD	36,518,000		(2,370,128)		(2,436,058)		65,930
Totals											$	(3,864,718)	$	(3,674,289)	$	(190,429)

Centrally Cleared Credit Default Swaps on Corporate Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium Paid/(Received)		Unrealized Appreciation
Daimler AG 0.625%, due 03/05/20		1.000%		Quarterly	12/20/20		0.300%		EUR	1,210,000	$	28,702	$	20,056	$	8,646

OTC Credit Default Swaps on Sovereign Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium (Received)		Unrealized Appreciation
Federative Republic of Brazil 4.250%, due 01/07/25		1.000%		Quarterly		06/20/21	CBNA		1.020%		USD	800,000	$	(481)	$	(69,203)	$	68,722
Federative Republic of Brazil 4.250%, due 01/07/25		1.000%		Quarterly		06/20/21	DBAG		1.020%		USD	1,200,000		(721)		(103,310)		102,589
Federative Republic of Brazil 4.250%, due 01/07/25		1.000%		Quarterly		06/20/22	CBNA		1.314%		USD	2,600,000		(32,200)		(164,239)		132,039
Totals													$	(33,402)	$	(336,752)	$	303,350

BHFTI-303

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements—(Continued)

OTC Credit Default Swaps on Credit Indices—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date		Counterparty	Implied Credit Spread at March 31, 2018 (b)		Notional Amount (c)			Market Value		Upfront Premium (Received)		Unrealized Appreciation
CMBX.NA.AAA.8		0.500%		Monthly		10/17/57	DBAG		0.000%		USD	7,900,000	$	30,348	$	(496,449)	$	526,797
CMBX.NA.AAA.8		0.500%		Monthly		10/17/57	GSI		0.000%		USD	900,000		3,457		(46,593)		50,050
Totals													$	33,805	$	(543,042)	$	576,847

(a)	If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(b)	Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
(c)	The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.
(d)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(1)	There is no upfront payment premium paid or (received) therefore Market Value equals Unrealized Appreciation/(Depreciation).

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BNP)—	BNP Paribas S.A.
(CBNA)—	Citibank N.A.
(CSI)—	Credit Suisse International
(DBAG)—	Deutsche Bank AG
(GSBU)—	Goldman Sachs Bank USA
(GSI)—	Goldman Sachs International
(JPMC)—	JPMorgan Chase Bank N.A.
(MSC)—	Morgan Stanley & Co.
(MSCS)—	Morgan Stanley Capital Services LLC
(SG)—	Societe Generale Paris
(UBSA)—	UBS AG

Currencies

(ARS)—	Argentine Peso
(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(CNH)—	Chinese Renminbi
(COP)—	Colombian Peso
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(MYR)—	Malaysian Ringgit
(NZD)—	New Zealand Dollar
(RUB)—	Russian Ruble
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(BADLAR)—	Buenos Aires Deposits of Large Amount Rate Index
(BBSW)—	Bank Bill Swap Rate
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(CMBX)—	Commercial Mortgage-Backed Index
(CMBX.NA.AAA)—	Markit North America AAA Rated CMBS Index
(CMT)—	Constant Maturity Treasury Index
(COFI)—	11th District Cost of Funds Index
(CPI-U)—	U.S. Consumer Price Index for All Urban Consumers
(CPURNSA)—	U.S. Consumer Price for All Urban Consumers Non-SeasonallyAdjusted
(EONIA)—	Euro Overnight Index Average
(EURIBOR)—	Euro Interbank Offered Rate
(FEDRC)—	U.S. Federal Funds Rate Compounded
(FRCPXT)—	France Consumer Price ex-Tobacco Index
(HICP)—	Harmonized Index of Consumer Prices
(ICE)—	Intercontinental Exchange, Inc.
(ITRX.EUR)—	Markit iTraxx Europe CDS Index
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(NZDBB)—	New Zealand Dollar Bank Bill Index
(TIIE)—	Mexican Interbank Equilibrium Interest Rate
(UKRPI)—	United Kingdom Retail Price Index
(YOY)—	Year over year options

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CDS)—	Credit Default Swap
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-304

Brighthouse Funds Trust I

PIMCO Inflation Protected Bond Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	3,049,376,022		$	—	$	3,049,376,022
Total Foreign Government*		—			246,482,083			—		246,482,083
Total Asset-Backed Securities*		—			204,683,716			—		204,683,716
Total Corporate Bonds & Notes*		—			184,366,664			—		184,366,664
Total Mortgage-Backed Securities*		—			43,855,603			—		43,855,603
Total Municipals		—			1,597,630			—		1,597,630
Total Convertible Preferred Stock*		1,161,000			—			—		1,161,000
Total Floating Rate Loans*		—			298,964			—		298,964
Total Short-Term Investments*		—			701,128,310			—		701,128,310
Purchased Options
Interest Rate Capped Options at Value		—			3,051			—		3,051
Interest Rate Swaptions at Value		—			1,650,963			—		1,650,963
Options on Exchange-Traded Futures Contracts at Value		17,020			—			—		17,020
Total Purchased Options	$	17,020		$	1,654,014		$	—	$	1,671,034
Total Investments	$	1,178,020		$	4,433,443,006		$	—	$	4,434,621,026
TBA Forward Sales Commitments	$	—		$	(56,503,136	)	$	—	$	(56,503,136	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	3,660,450		$	—	$	3,660,450
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(6,374,241	)		—		(6,374,241	)
Total Forward Contracts	$	—		$	(2,713,791	)	$	—	$	(2,713,791	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	612,997		$	—		$	—	$	612,997
Futures Contracts (Unrealized Depreciation)		(5,196,613	)		—			—		(5,196,613	)
Total Futures Contracts	$	(4,583,616	)	$	—		$	—	$	(4,583,616	)
Written Options
OTC Options on Securities		—			(211,140	)		—		(211,140	)
Credit Default Swaptions at Value		—			(140,143	)		—		(140,143	)
Inflation Capped Options at Value		—			(399,878	)		—		(399,878	)
Interest Rate Capped Options		—			(2,287	)		—		(2,287	)
Options on Exchange-Traded Futures Contracts at Value		(314,781	)		—			—		(314,781	)
Total Written Options	$	(314,781	)	$	(753,448	)	$	—	$	(1,068,229	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	13,075,184		$	—	$	13,075,184
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(5,237,880	)		—		(5,237,880	)
Total Centrally Cleared Swap Contracts	$	—		$	7,837,304		$	—	$	7,837,304
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	33,805		$	—	$	33,805
OTC Swap Contracts at Value (Liabilities)		—			(2,416,388	)		—		(2,416,388	)
Total OTC Swap Contracts	$	—		$	(2,382,583	)	$	—	$	(2,382,583	)
Total Reverse Repurchase Agreements (Liability)	$	—		$	(8,525,999	)	$	—	$	(8,525,999	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-305

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—66.4% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—47.6%
Fannie Mae 10 Yr. Pool 3.000%, 12/01/20		58,240	$	58,201
3.000%, 02/01/21		184,347		184,223
3.000%, 08/01/21		141,797		142,483
3.000%, 11/01/21		39,521		39,824
3.000%, 03/01/22		183,750		185,164
3.000%, 05/01/22		613,245		617,968
4.000%, 05/01/19		2,455		2,526
4.500%, 11/01/18		2,177		2,194
4.500%, 12/01/18		786		792
4.500%, 05/01/19		87,683		88,340
5.500%, 09/01/18		9,719		9,730
5.500%, 10/01/18		4,538		4,549
Fannie Mae 15 Yr. Pool 3.000%, 09/01/28		513,108		514,350
3.000%, 06/01/30		16,716,384		16,757,171
3.000%, TBA (a)		59,000,000		58,849,432
3.500%, 10/01/26		188,940		192,831
3.500%, 12/01/26		302,325		308,734
3.500%, 08/01/27		250,218		255,916
3.500%, 07/01/29		156,090		159,364
3.500%, TBA (a)		53,000,000		53,943,154
4.000%, 07/01/18		181		186
4.000%, 08/01/18		86		89
4.000%, 09/01/18		73		75
4.000%, 05/01/19		108,099		111,212
4.000%, 07/01/19		23,592		24,271
4.000%, 08/01/20		106,239		109,298
4.000%, 03/01/22		14,516		14,934
4.000%, 04/01/24		28,905		29,745
4.000%, 05/01/24		1,195,681		1,230,298
4.000%, 06/01/24		1,430,823		1,472,262
4.000%, 07/01/24		14,385		14,799
4.000%, 02/01/25		426,771		439,183
4.000%, 06/01/25		134,687		138,585
4.000%, 07/01/25		4,233		4,356
4.000%, 08/01/25		456,140		469,436
4.000%, 09/01/25		22,254		22,901
4.000%, 12/01/25		119,419		122,875
4.000%, 02/01/26		120,328		123,815
4.000%, 03/01/26		23,621		24,308
4.000%, 06/01/26		22,374		23,018
4.500%, 10/01/18		1,416		1,427
4.500%, 12/01/18		24,566		24,750
4.500%, 02/01/19		20,149		20,300
4.500%, 05/01/19		56,207		56,627
4.500%, 06/01/19		21,225		21,384
4.500%, 11/01/19		29,924		30,148
4.500%, 12/01/19		23,242		23,416
4.500%, 08/01/20		100,733		101,954
4.500%, 09/01/20		64,011		64,519
4.500%, 10/01/20		5,718		5,779
4.500%, 12/01/20		84,299		85,127
4.500%, 01/01/22		3,922		3,951
4.500%, 02/01/23		119,639		123,425
4.500%, 03/01/23		199,887		206,821
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 15 Yr. Pool 4.500%, 05/01/23		23,752		24,463
4.500%, 06/01/23		1,446		1,495
4.500%, 04/01/24		39,905		41,585
4.500%, 05/01/24		133,883		139,501
4.500%, 08/01/24		26,844		27,975
4.500%, 10/01/24		188,120		196,114
4.500%, 11/01/24		45,660		47,495
4.500%, 02/01/25		321,527		333,412
4.500%, 03/01/25		236,139		246,151
4.500%, 04/01/25		175,627		183,026
4.500%, 05/01/25		499,853		519,944
4.500%, 06/01/25		34,087		35,276
4.500%, 07/01/25		1,884,209		1,964,803
4.500%, 08/01/25		39,670		40,662
4.500%, 09/01/25		125,384		130,676
4.500%, 11/01/25		93,211		97,197
4.500%, 04/01/26		11,078		11,552
4.500%, 01/01/27		31,903		32,666
5.500%, 11/01/18		7		7
5.500%, 09/01/19		135		135
5.500%, 09/01/20		4,168		4,264
5.500%, 12/01/20		168		169
5.500%, 03/01/22		77,671		80,169
5.500%, 04/01/22		41,881		43,095
5.500%, 07/01/22		62,098		63,975
5.500%, 09/01/22		27,289		28,098
5.500%, 10/01/22		217,574		225,420
5.500%, 11/01/22		49,230		50,881
5.500%, 12/01/22		32,024		32,686
5.500%, 02/01/23		78,204		81,317
5.500%, 03/01/23		10,825		11,296
5.500%, 07/01/23		6,422		6,678
5.500%, 08/01/23		22,572		23,625
5.500%, 10/01/23		39,539		41,023
5.500%, 11/01/23		4,334		4,334
5.500%, 12/01/23		20,422		21,146
5.500%, 01/01/24		6,695		7,004
5.500%, 03/01/24		39,102		40,707
5.500%, 09/01/24		15,177		15,586
5.500%, 01/01/25		534,599		557,649
5.500%, 05/01/25		33,444		34,498
Fannie Mae 20 Yr. Pool 4.000%, 04/01/29		45,558		46,784
4.000%, 05/01/29		161,947		166,306
4.000%, 03/01/30		93,316		96,472
4.000%, 05/01/30		143,095		148,144
4.000%, 08/01/30		114,638		118,503
4.000%, 09/01/30		80,978		83,719
4.000%, 10/01/30		3,330		3,443
4.000%, 11/01/30		386,188		399,296
4.000%, 12/01/30		52,892		54,682
4.000%, 06/01/31		7,798		8,120
4.000%, 09/01/31		197,799		205,964
4.000%, 11/01/31		20,332		20,931
4.500%, 01/01/25		5,990		6,275
4.500%, 04/01/31		36,781		38,649

BHFTI-306

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 20 Yr. Pool 5.000%, 02/01/23		254,989	$	272,594
5.000%, 03/01/23		363,083		388,152
5.000%, 07/01/23		230,305		246,206
5.000%, 09/01/23		105,107		112,364
5.000%, 10/01/23		8,177,877		8,742,512
5.000%, 01/01/24		331,295		354,169
5.000%, 05/01/24		115,698		123,687
5.000%, 06/01/24		1,267,385		1,354,891
5.000%, 07/01/24		7,455,104		7,969,836
5.000%, 01/01/25		84,471		90,303
5.000%, 09/01/25		601,345		642,864
5.000%, 12/01/25		214,268		229,062
5.000%, 01/01/26		54,338		58,090
5.000%, 08/01/26		240,680		257,298
5.000%, 02/01/27		4,841		5,175
5.000%, 05/01/27		142,964		152,835
5.000%, 07/01/27		759,688		812,140
5.000%, 12/01/27		345,230		369,067
5.000%, 03/01/28		12,833		13,719
5.000%, 05/01/28		434,771		464,789
5.000%, 06/01/28		1,351,541		1,444,857
5.000%, 01/01/29		249,655		266,892
5.000%, 07/01/29		75,064		80,247
5.000%, 12/01/29		20,656		22,082
5.000%, 03/01/30		401,863		429,610
5.000%, 05/01/30		87,743		93,801
5.000%, 11/01/30		423,564		452,809
5.000%, 07/01/31		69,954		74,791
5.500%, 02/01/19		2,435		2,644
5.500%, 06/01/23		132,609		143,957
5.500%, 07/01/24		6,250		6,785
5.500%, 01/01/25		7,178		7,792
5.500%, 02/01/25		1,981		2,151
5.500%, 03/01/25		617,885		678,913
5.500%, 08/01/25		46,009		50,484
5.500%, 10/01/25		3,185		3,459
5.500%, 11/01/25		7,207		7,824
5.500%, 03/01/26		53,302		57,867
5.500%, 05/01/26		1,504		1,633
5.500%, 06/01/26		306,289		332,662
5.500%, 01/01/27		42,619		46,281
5.500%, 06/01/27		7,226		7,852
5.500%, 07/01/27		147,701		160,370
5.500%, 08/01/27		70,262		76,275
5.500%, 10/01/27		86,549		93,956
5.500%, 11/01/27		25,089		27,236
5.500%, 12/01/27		198,468		215,469
5.500%, 01/01/28		75,288		81,731
5.500%, 03/01/28		37,505		40,734
5.500%, 04/01/28		138,217		150,109
5.500%, 05/01/28		46,213		50,177
5.500%, 06/01/28		12,066		13,099
5.500%, 07/01/28		6,458		7,011
5.500%, 09/01/28		91,830		99,688
5.500%, 10/01/28		15,092		16,383
5.500%, 12/01/28		6,400		6,947
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 20 Yr. Pool 5.500%, 01/01/29		107,686		116,901
5.500%, 07/01/29		51,608		56,062
5.500%, 10/01/29		203,649		222,921
5.500%, 04/01/30		125,415		136,286
6.000%, 06/01/26		7,828		8,698
6.000%, 07/01/26		63,544		70,619
6.000%, 08/01/26		11,350		12,618
6.000%, 12/01/26		10,473		11,644
6.000%, 10/01/28		33,431		37,176
Fannie Mae 30 Yr. Pool 3.000%, TBA (a)		553,000,000		538,834,065
3.500%, TBA (a)		594,100,000		594,791,025
4.000%, 05/01/34		162,514		167,561
4.000%, 05/01/35		95,380		98,357
4.000%, 01/01/41		574,395		594,421
4.000%, 03/01/41		317,737		326,741
4.000%, 05/01/41		369,766		382,675
4.000%, 05/01/42		140,576		144,878
4.000%, 12/01/43		616,129		636,501
4.000%, TBA (a)		798,000,000		818,237,554
4.500%, 04/01/39		899,830		952,857
4.500%, 05/01/39		78,954		83,483
4.500%, 06/01/39		28,435		30,054
4.500%, 08/01/39		22,445		23,686
4.500%, 12/01/39		8,707		9,256
4.500%, 05/01/40		35,319		37,353
4.500%, 09/01/40		33,131		35,043
4.500%, 10/01/40		236,899		248,131
4.500%, 12/01/40		67,795		71,650
4.500%, 02/01/41		165,456		173,857
4.500%, 05/01/41		19,225		20,356
4.500%, 06/01/41		13,732		14,505
4.500%, 07/01/41		9,362		9,866
4.500%, 09/01/41		516,222		540,725
4.500%, 10/01/41		164,563		173,895
4.500%, 03/01/42		31,009		32,551
4.500%, 06/01/42		67,408		71,038
4.500%, 07/01/42		919,355		964,540
4.500%, 11/01/43		19,067		20,204
4.500%, TBA (a)		140,000,000		146,351,790
5.000%, 03/01/32		3,140		3,356
5.000%, 09/01/32		2,251		2,406
5.000%, 04/01/33		71,516		76,453
5.000%, 07/01/33		107,153		116,111
5.000%, 08/01/33		2,316		2,508
5.000%, 09/01/33		1,904		2,069
5.000%, 10/01/33		19,180		20,747
5.000%, 11/01/33		539		584
5.000%, 01/01/34		117,187		125,376
5.000%, 04/01/34		129,287		139,934
5.000%, 06/01/34		2,907		3,132
5.000%, 12/01/34		22,149		23,678
5.000%, 01/01/35		66,040		71,362
5.000%, 04/01/35		52		56
5.000%, 07/01/35		28,662		30,641

BHFTI-307

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool 5.000%, 09/01/35		45,409	$	48,568
5.000%, 01/01/38		164,830		177,792
5.000%, 04/01/39		23,070		24,870
5.000%, 10/01/39		7,428		8,000
5.000%, 11/01/39		21,026		22,744
5.000%, 06/01/40		11,756		12,567
5.000%, 11/01/42		160,382		171,703
5.000%, TBA (a)		18,650,000		19,885,563
5.500%, 12/01/28		24,567		26,700
5.500%, 06/01/33		53,483		58,668
5.500%, 07/01/33		8,413		9,239
5.500%, 09/01/33		136,430		148,846
5.500%, 11/01/33		224,576		243,848
5.500%, 12/01/33		1,236		1,352
5.500%, 04/01/34		2,385		2,619
5.500%, 07/01/34		22,586		24,718
5.500%, 08/01/34		231,240		253,903
5.500%, 09/01/34		13,736		14,962
5.500%, 11/01/34		325,598		357,592
5.500%, 12/01/34		765,896		841,066
5.500%, 01/01/35		275,267		302,838
5.500%, 02/01/35		377,381		414,482
5.500%, 03/01/35		502,135		550,724
5.500%, 04/01/35		125,917		137,545
5.500%, 05/01/35		139,564		153,294
5.500%, 06/01/35		229,220		251,715
5.500%, 08/01/35		189,968		209,861
5.500%, 09/01/35		2,120,323		2,328,289
5.500%, 10/01/35		215,439		236,481
5.500%, 12/01/35		966,860		1,061,505
5.500%, 01/01/36		239,070		262,318
5.500%, 03/01/36		243,988		267,850
5.500%, 05/01/36		2,026		2,213
5.500%, 07/01/36		1,014,332		1,115,802
5.500%, 09/01/36		123,779		135,945
5.500%, 11/01/36		74,207		81,370
5.500%, 12/01/36		2,577		2,798
5.500%, 02/01/37		2,071		2,275
5.500%, 05/01/37		22,408		24,402
5.500%, 08/01/37		977,411		1,073,557
5.500%, 01/01/38		5,953		6,512
5.500%, 02/01/38		148,586		162,480
5.500%, 03/01/38		1,053,292		1,158,177
5.500%, 05/01/38		2,038,864		2,234,453
5.500%, 06/01/38		77,976		85,258
5.500%, 09/01/38		22,022		23,906
5.500%, 10/01/38		803,196		882,353
5.500%, 11/01/38		178,191		195,128
5.500%, 01/01/39		50,598		55,657
5.500%, 07/01/39		15,122		16,428
5.500%, 11/01/39		2,217,671		2,424,759
5.500%, 02/01/40		490,252		535,893
5.500%, 06/01/40		59,402		64,546
5.500%, 09/01/40		321,258		351,116
5.500%, 07/01/41		3,743,446		4,089,256
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool 5.500%, TBA (a)		10,500,000		11,410,547
6.000%, 12/01/28		13,358		14,844
6.000%, 01/01/29		18,125		20,189
6.000%, 02/01/29		163		182
6.000%, 04/01/29		2,779		3,111
6.000%, 06/01/29		4,256		4,765
6.000%, 11/01/32		45,794		50,929
6.000%, 12/01/32		190,465		213,199
6.000%, 03/01/33		16,213		18,189
6.000%, 04/01/33		6,914		7,690
6.000%, 05/01/33		16,007		17,953
6.000%, 07/01/33		17,393		19,500
6.000%, 01/01/34		1,831		2,050
6.000%, 09/01/34		17,311		19,241
6.000%, 11/01/34		7,858		8,739
6.000%, 04/01/35		741,128		833,160
6.000%, 05/01/35		24,761		27,786
6.000%, 06/01/35		3,369		3,786
6.000%, 07/01/35		37,944		42,288
6.000%, 09/01/35		8,420		9,457
6.000%, 11/01/35		419,942		466,763
6.000%, 12/01/35		13,599		15,180
6.000%, 04/01/36		5,024		5,616
6.000%, 05/01/36		493,970		551,266
6.000%, 06/01/36		21,216		23,575
6.000%, 07/01/36		12,429		13,811
6.000%, 08/01/36		1,727,229		1,941,311
6.000%, 09/01/36		176,204		197,661
6.000%, 10/01/36		70,008		77,922
6.000%, 11/01/36		132,605		148,514
6.000%, 12/01/36		14,250		15,844
6.000%, 01/01/37		130,530		146,041
6.000%, 02/01/37		413,010		463,296
6.000%, 04/01/37		66,851		74,828
6.000%, 05/01/37		46,652		51,873
6.000%, 07/01/37		20,099		22,559
6.000%, 08/01/37		45,419		50,743
6.000%, 11/01/37		51,411		57,402
6.000%, 02/01/38		509,990		572,752
6.000%, 03/01/38		9,868		11,145
6.000%, 08/01/38		22,239		24,779
6.000%, 09/01/38		562,632		629,859
6.000%, 10/01/38		62,996		70,753
6.000%, 11/01/38		8,375		9,309
6.000%, 01/01/39		91,585		103,013
6.000%, 04/01/39		543,477		610,144
6.000%, 07/01/39		87,552		97,613
6.000%, 08/01/39		651,621		724,593
6.000%, 05/01/40		2,027		2,253
6.000%, TBA (a)		6,500,000		7,233,535
8.000%, 10/01/25		988		1,084
Fannie Mae ARM Pool 2.482%, 12M MTA + 1.200%, 08/01/41 (b)		294,153		293,264
2.482%, 12M MTA + 1.200%, 07/01/42 (b)		259,762		263,784
2.482%, 12M MTA + 1.200%, 08/01/42 (b)		264,550		268,736

BHFTI-308

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae ARM Pool 2.482%, 12M MTA + 1.200%, 10/01/44 (b)		378,876	$	385,082
2.532%, 12M MTA + 1.250%, 09/01/41 (b)		761,744		773,628
2.866%, 1Y CMT + 1.997%, 10/01/28 (b)		142,780		146,306
3.014%, 6M LIBOR + 1.414%, 06/01/33 (b)		25,164		25,862
3.059%, 6M LIBOR + 1.511%, 01/01/35 (b)		146,278		151,191
3.092%, 12M MTA + 1.842%, 11/01/35 (b)		163,229		169,877
3.095%, 12M LIBOR + 1.345%, 12/01/34 (b)		587,440		607,690
3.097%, 12M LIBOR + 1.353%, 12/01/34 (b)		912,544		943,994
3.117%, 1Y CMT + 2.313%, 05/01/35 (b)		303,411		321,901
3.136%, 1Y CMT + 2.136%, 07/01/32 (b)		30,073		30,897
3.142%, 6M LIBOR + 1.538%, 01/01/36 (b)		48,502		50,672
3.150%, 1Y CMT + 1.900%, 02/01/31 (b)		140,214		142,836
3.156%, 12M LIBOR + 1.378%, 03/01/35 (b)		27,039		27,935
3.186%, 6M LIBOR + 1.373%, 09/01/35 (b)		1,150,128		1,182,741
3.250%, 12M LIBOR + 1.500%, 11/01/34 (b)		5,183		5,420
3.278%, 1Y CMT + 2.055%, 10/01/35 (b)		284,769		299,093
3.279%, 6M LIBOR + 1.662%, 08/01/36 (b)		246,360		255,197
3.343%, 1Y CMT + 2.176%, 11/01/35 (b)		368,582		386,971
3.345%, 12M LIBOR + 1.595%, 11/01/35 (b)		154,472		157,777
3.346%, 1Y CMT + 2.210%, 07/01/33 (b)		18,865		19,854
3.348%, 1Y CMT + 2.223%, 08/01/35 (b)		316,067		333,960
3.375%, 12M LIBOR + 1.625%, 12/01/34 (b)		40,734		42,579
3.379%, 1Y CMT + 2.215%, 09/01/31 (b)		38,151		39,647
3.386%, 12M LIBOR + 1.630%, 01/01/35 (b)		16,599		17,348
3.391%, 12M LIBOR + 1.641%, 10/01/34 (b)		15,736		16,473
3.394%, 12M LIBOR + 1.631%, 05/01/35 (b)		39,362		41,190
3.420%, 12M LIBOR + 1.670%, 11/01/34 (b)		91,694		96,071
3.454%, 1Y CMT + 2.289%, 04/01/34 (b)		5,638		5,944
3.466%, 12M LIBOR + 1.632%, 02/01/35 (b)		29,444		30,759
3.500%, 12M LIBOR + 1.750%, 08/01/35 (b)		463,340		487,008
3.502%, 12M LIBOR + 1.752%, 09/01/32 (b)		152,003		160,827
3.511%, 12M LIBOR + 1.638%, 01/01/35 (b)		55,058		57,587
3.513%, 12M LIBOR + 1.660%, 05/01/34 (b)		456,153		479,640
3.518%, 12M LIBOR + 1.572%, 01/01/35 (b)		40,312		42,054
3.551%, 1Y CMT + 2.360%, 11/01/34 (b)		1,731,697		1,838,239
3.560%, 12M LIBOR + 1.810%, 09/01/34 (b)		649,762		684,439
3.568%, 12M LIBOR + 1.578%, 01/01/35 (b)		59,821		62,432
3.569%, 12M LIBOR + 1.614%, 03/01/33 (b)		2,163		2,230
3.596%, 12M LIBOR + 1.810%, 04/01/35 (b)		87,426		91,827
3.610%, 1Y CMT + 2.196%, 02/01/35 (b)		116,219		122,209
3.635%, 12M LIBOR + 1.885%, 11/01/32 (b)		25,647		26,403
4.255%, COFI + 1.926%, 12/01/36 (b)		163,235		172,073
4.900%, COFI + 1.733%, 09/01/34 (b)		25,998		27,576
Fannie Mae Pool 2.310%, 08/01/22		8,200,000		8,010,179
2.870%, 09/01/27		7,300,000		7,101,550
3.240%, 07/01/22		21,343,054		21,639,982
3.330%, 11/01/21		1,412,324		1,434,008
Fannie Mae REMICS (CMO) 2.208%, 1M LIBOR + 0.400%, 09/18/31 (b)		227,725		228,667
2.772%, 1M LIBOR + 0.900%, 04/25/32 (b)		69,015		70,531
3.465%, 12M LIBOR + 1.000%, 05/25/35 (b)		870,847		914,174
Freddie Mac 15 Yr. Gold Pool 5.500%, 09/01/19		59,568		60,148
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 20 Yr. Gold Pool 4.000%, 06/01/30		83,987		86,754
4.000%, 09/01/30		407,164		421,084
4.000%, 10/01/30		23,753		24,565
5.500%, 04/01/21		7,066		7,661
5.500%, 12/01/22		456		494
5.500%, 03/01/23		84,182		91,270
5.500%, 06/01/26		1,647		1,786
5.500%, 08/01/26		1,019		1,105
5.500%, 06/01/27		23,612		25,683
5.500%, 12/01/27		55,208		59,856
5.500%, 01/01/28		34,041		36,907
5.500%, 02/01/28		8,319		9,019
5.500%, 05/01/28		70,445		76,376
5.500%, 06/01/28		107,854		116,942
6.000%, 03/01/21		18,740		20,815
6.000%, 01/01/22		82,666		91,817
6.000%, 10/01/22		342,767		380,712
6.000%, 12/01/22		19,352		21,495
6.000%, 04/01/23		17,504		19,442
Freddie Mac 30 Yr. Gold Pool 3.500%, TBA (a)		75,000,000		75,112,529
4.000%, 12/01/40		210,105		217,511
4.000%, TBA (a)		36,000,000		36,908,124
4.500%, 04/01/34		22,157		23,302
4.500%, 06/01/35		69,400		72,981
4.500%, 04/01/41		144,842		153,230
4.500%, 10/01/41		125,775		132,201
4.500%, TBA (a)		29,800,000		31,200,368
5.500%, 03/01/32		18,826		20,546
5.500%, 01/01/33		1,447		1,592
5.500%, 05/01/33		1,638		1,798
5.500%, 08/01/33		1,481		1,619
5.500%, 10/01/33		2,593		2,836
5.500%, 12/01/33		1,138		1,251
5.500%, 01/01/34		1,685		1,840
5.500%, 05/01/34		46,663		51,326
5.500%, 09/01/34		18,547		20,278
5.500%, 01/01/35		32,316		35,609
5.500%, 07/01/35		1,691		1,865
5.500%, 10/01/35		60,228		65,691
5.500%, 11/01/35		122,198		132,955
5.500%, 12/01/35		39,096		43,139
5.500%, 01/01/36		35,797		39,349
5.500%, 02/01/36		37,758		40,961
5.500%, 04/01/36		18,571		20,459
5.500%, 06/01/36		1,557,996		1,719,541
5.500%, 07/01/36		33,290		36,538
5.500%, 08/01/36		77,475		84,852
5.500%, 10/01/36		13,545		14,922
5.500%, 12/01/36		279,063		306,554
5.500%, 02/01/37		23,945		26,330
5.500%, 03/01/37		14,318		15,796
5.500%, 04/01/37		33,937		36,891
5.500%, 06/01/37		56,376		61,761
5.500%, 07/01/37		227,191		248,924

BHFTI-309

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool 5.500%, 08/01/37		79,939	$	88,304
5.500%, 09/01/37		29,816		32,509
5.500%, 10/01/37		9,957		10,921
5.500%, 11/01/37		250,434		274,896
5.500%, 12/01/37		15,466		16,803
5.500%, 01/01/38		78,335		85,900
5.500%, 02/01/38		201,558		221,097
5.500%, 03/01/38		95,904		104,867
5.500%, 04/01/38		190,985		209,324
5.500%, 05/01/38		391,756		429,806
5.500%, 06/01/38		309,280		339,161
5.500%, 07/01/38		411,981		451,865
5.500%, 08/01/38		1,084,730		1,190,220
5.500%, 09/01/38		294,908		323,282
5.500%, 10/01/38		8,190,246		8,984,119
5.500%, 11/01/38		2,597,146		2,840,695
5.500%, 12/01/38		6,022		6,529
5.500%, 01/01/39		686,406		752,668
5.500%, 02/01/39		119,391		130,104
5.500%, 03/01/39		79,267		86,952
5.500%, 06/01/39		2,671,650		2,929,797
5.500%, 09/01/39		58,012		63,417
5.500%, 02/01/40		91,902		100,609
5.500%, 03/01/40		12,187		13,271
5.500%, 05/01/40		2,683		2,944
5.500%, 08/01/40		84,701		92,856
5.500%, 02/01/41		56,369		61,153
Freddie Mac ARM Non-Gold Pool 3.099%, 12M LIBOR + 1.345%, 09/01/35 (b)		175,593		181,322
3.263%, 1Y CMT + 2.250%, 06/01/35 (b)		764,748		807,244
3.295%, 1Y CMT + 2.250%, 08/01/35 (b)		349,390		367,878
3.338%, 1Y CMT + 2.107%, 10/01/34 (b)		41,053		43,049
3.415%, 12M LIBOR + 1.625%, 02/01/35 (b)		33,525		34,956
3.433%, 12M LIBOR + 1.625%, 02/01/35 (b)		13,615		14,150
3.434%, 12M LIBOR + 1.677%, 01/01/35 (b)		29,559		30,787
3.469%, 12M LIBOR + 1.621%, 02/01/35 (b)		25,941		27,041
3.478%, 1Y CMT + 2.236%, 09/01/35 (b)		305,406		321,302
3.489%, 1Y CMT + 2.250%, 11/01/31 (b)		23,692		24,879
3.500%, 1Y CMT + 2.250%, 11/01/34 (b)		65,914		69,369
3.510%, 1Y CMT + 2.108%, 02/01/35 (b)		41,593		43,546
3.529%, 12M LIBOR + 1.678%, 02/01/35 (b)		27,985		29,216
3.601%, 12M LIBOR + 1.851%, 03/01/35 (b)		98,790		101,416
3.611%, 1Y CMT + 2.464%, 01/01/29 (b)		232,545		240,447
3.642%, 12M LIBOR + 1.893%, 11/01/34 (b)		28,727		30,278
3.650%, 12M LIBOR + 1.900%, 11/01/34 (b)		36,316		38,214
3.698%, 1Y CMT + 2.250%, 01/01/35 (b)		162,777		171,182
3.711%, 12M LIBOR + 1.961%, 08/01/32 (b)		49,029		50,446
3.744%, 12M LIBOR + 1.901%, 02/01/35 (b)		35,276		37,104
3.937%, 1Y CMT + 2.250%, 02/01/35 (b)		61,480		64,654
Freddie Mac Multifamily Structured Pass-Through Certificates 1.272%, 08/25/22 (b) (c)		42,240,454		1,936,615
Freddie Mac REMICS (CMO) 2.027%, 1M LIBOR + 0.250%, 07/15/34 (b)		49,975		49,775
2.177%, 1M LIBOR + 0.400%, 06/15/41 (b)		9,733,394		9,793,333
3.125%, PRIME -1.375%, 11/15/23 (b)		212,524		216,764
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac REMICS (CMO) 3.500%, 01/15/42		24,810,116		24,797,468
6.500%, 01/15/24		13,480		14,831
Freddie Mac Structured Pass-Through Securities (CMO) 2.263%, 12M MTA + 1.200%, 02/25/45 (b)		77,896		78,323
2.401%, 12M MTA + 1.200%, 10/25/44 (b)		868,099		878,812
2.601%, 12M MTA + 1.400%, 07/25/44 (b)		4,390,030		4,404,095
Ginnie Mae I 30 Yr. Pool 3.000%, TBA (a)		7,000,000		6,893,086
4.000%, TBA (a)		11,000,000		11,312,382
5.000%, 10/15/33		6,454		6,803
5.000%, 12/15/33		28,306		30,409
5.000%, 05/15/34		5,427		5,833
5.000%, 07/15/34		756		797
5.000%, 11/15/35		2,551		2,696
5.000%, 03/15/36		2,344		2,520
5.000%, 10/15/38		631,460		678,357
5.000%, 02/15/39		91,696		98,260
5.000%, 03/15/39		144,839		155,669
5.000%, 04/15/39		929,926		999,776
5.000%, 05/15/39		3,053,859		3,282,241
5.000%, 06/15/39		996,910		1,070,763
5.000%, 09/15/39		312,342		335,395
5.000%, 05/15/40		32,615		35,055
5.000%, 09/15/40		351,375		375,903
5.000%, 12/15/40		25,862		27,779
5.000%, 07/15/41		18,088		19,069
5.000%, 09/15/47		499,416		529,456
5.000%, TBA (a)		15,000,000		15,801,563
7.000%, 10/15/23		2,126		2,210
7.500%, 01/15/26		2,602		2,777
Ginnie Mae II 30 Yr. Pool 3.500%, TBA (a)		10,000,000		10,097,070
4.000%, TBA (a)		39,500,000		40,585,283
Ginnie Mae II ARM Pool 2.375%, 1Y CMT + 1.500%, 02/20/22 (b)		6,027		6,101
2.375%, 1Y CMT + 1.500%, 01/20/23 (b)		10,189		10,388
2.375%, 1Y CMT + 1.500%, 02/20/26 (b)		7,312		7,527
2.375%, 1Y CMT + 1.500%, 01/20/27 (b)		3,478		3,599
2.375%, 1Y CMT + 1.500%, 02/20/27 (b)		1,692		1,696
2.375%, 1Y CMT + 1.500%, 02/20/28 (b)		10,901		11,265
2.375%, 1Y CMT + 1.500%, 03/20/28 (b)		11,569		11,956
2.375%, 1Y CMT + 1.500%, 01/20/30 (b)		26,842		27,798
2.375%, 1Y CMT + 1.500%, 03/20/32 (b)		454		471
2.375%, 1Y CMT + 1.500%, 03/20/33 (b)		4,039		4,198
2.625%, 1Y CMT + 1.500%, 04/20/22 (b)		388		387
2.625%, 1Y CMT + 1.500%, 05/20/26 (b)		12,456		12,578
2.625%, 1Y CMT + 1.500%, 06/20/27 (b)		4,107		4,238
2.625%, 1Y CMT + 1.500%, 05/20/28 (b)		4,331		4,476
2.625%, 1Y CMT + 1.500%, 04/20/29 (b)		5,106		5,133
2.625%, 1Y CMT + 1.500%, 05/20/29 (b)		6,916		7,156
2.625%, 1Y CMT + 1.500%, 04/20/30 (b)		14,388		14,906
2.625%, 1Y CMT + 1.500%, 05/20/30 (b)		23,243		24,079
2.625%, 1Y CMT + 1.500%, 06/20/30 (b)		8,889		9,209
2.625%, 1Y CMT + 1.500%, 04/20/31 (b)		8,343		8,479
2.625%, 1Y CMT + 1.500%, 04/20/32 (b)		6,543		6,794

BHFTI-310

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae II ARM Pool 2.625%, 1Y CMT + 1.500%, 05/20/32 (b)		12,650	$	13,133
2.750%, 1Y CMT + 1.500%, 08/20/27 (b)		57,324		58,370
2.750%, 1Y CMT + 1.500%, 09/20/27 (b)		59,717		59,475
2.750%, 1Y CMT + 1.500%, 07/20/29 (b)		6,732		6,957
2.750%, 1Y CMT + 1.500%, 08/20/29 (b)		7,698		7,955
2.750%, 1Y CMT + 1.500%, 09/20/29 (b)		10,364		10,503
2.750%, 1Y CMT + 1.500%, 08/20/31 (b)		2,344		2,427
2.750%, 1Y CMT + 1.500%, 07/20/32 (b)		5,506		5,583
2.750%, 1Y CMT + 1.500%, 09/20/33 (b)		39,697		41,152
3.125%, 1Y CMT + 1.500%, 11/20/26 (b)		11,878		11,883
3.125%, 1Y CMT + 1.500%, 11/20/27 (b)		14,155		14,455
3.125%, 1Y CMT + 1.500%, 10/20/28 (b)		7,802		7,931
3.125%, 1Y CMT + 1.500%, 10/20/29 (b)		5,237		5,416
3.125%, 1Y CMT + 1.500%, 10/20/30 (b)		2,669		2,734
3.125%, 1Y CMT + 1.500%, 11/20/30 (b)		30,484		31,175
3.625%, 1Y CMT + 2.000%, 10/20/31 (b)		5,319		5,338
Government National Mortgage Association (CMO) 1.915%, 1M LIBOR + 0.340%, 12/20/62 (b)		306,161		305,502
2.086%, 1M LIBOR + 0.300%, 01/16/31 (b)		20,916		20,947
2.175%, 1M LIBOR + 0.600%, 08/20/65 (b)		3,678,974		3,691,194
2.175%, 1M LIBOR + 0.600%, 10/20/65 (b)		9,941,208		9,992,084
2.225%, 1M LIBOR + 0.650%, 06/20/66 (b)		7,497,951		7,533,571
2.286%, 1M LIBOR + 0.500%, 02/16/30 (b)		3,677		3,690
2.425%, 1M LIBOR + 0.850%, 09/20/66 (b)		9,833,156		9,985,563
2.500%, 12M LIBOR + 0.800%, 09/20/67 (b)		10,083,726		10,449,310
2.575%, 1M LIBOR + 1.000%, 12/20/65 (b)		25,577,105		26,105,901
2.575%, 1M LIBOR + 1.000%, 01/20/67 (b)		11,962,349		12,232,741
4.212%, 09/20/66 (b)		12,459,651		13,573,543
				2,799,023,096
U.S. Treasury—18.8%
U.S. Treasury Bonds 2.750%, 08/15/42 (d)		39,000,000		37,680,703
2.750%, 11/15/42 (d)		63,400,000		61,195,860
2.875%, 05/15/43 (d) (e)		83,700,000		82,503,351
3.000%, 05/15/42 (d)		19,500,000		19,714,805
3.000%, 11/15/44 (d)		50,400,000		50,734,687
3.125%, 02/15/42		15,800,000		16,324,609
3.125%, 02/15/43		20,000,000		20,616,406
3.125%, 08/15/44 (d) (e)		116,300,000		119,761,742
3.625%, 08/15/43 (d)		21,900,000		24,516,879
3.750%, 11/15/43		28,100,000		32,096,566
4.250%, 05/15/39		9,600,000		11,681,625
4.375%, 11/15/39 (d)		57,100,000		70,703,629
4.375%, 05/15/40		11,900,000		14,751,817
4.500%, 08/15/39		15,100,000		18,991,789
4.625%, 02/15/40		12,800,000		16,378,500
U.S. Treasury Inflation Indexed Bond 0.875%, 02/15/47 (f)		4,414,552		4,382,213
U.S. Treasury Notes 1.375%, 03/31/20 (g) (h) (i)		22,000,000		21,602,969
1.750%, 09/30/22 (g) (h) (i) (j)		20,400,000		19,718,672
1.875%, 07/31/22 (d) (g) (h) (i) (j)		102,600,000		99,846,633
1.875%, 08/31/22 (d) (g) (h) (i) (j)		31,200,000		30,345,656
U.S. Treasury—(Continued)
U.S. Treasury Notes 2.000%, 10/31/22 (d) (g) (h) (j)		3,300,000		3,222,656
2.125%, 07/31/24 (g) (h) (i) (j) (k)		24,800,000		24,026,937
2.125%, 09/30/24 (d) (g) (h) (j)		139,700,000		135,176,122
2.250%, 11/15/24 (d) (h) (i) (j)		114,200,000		111,215,633
2.250%, 08/15/27 (d)		24,360,000		23,357,053
2.375%, 05/15/27 (d)		34,900,000		33,859,816
				1,104,407,328
Total U.S. Treasury & Government Agencies (Cost $3,906,020,091)				3,903,430,424
Corporate Bonds & Notes—37.8%
Agriculture—0.4%
BAT Capital Corp. 2.764%, 08/15/22 (144A)		9,600,000		9,285,550
3.222%, 08/15/24 (144A)		6,300,000		6,073,981
3.557%, 08/15/27 (144A)		3,700,000		3,543,995
BAT International Finance plc 2.750%, 06/15/20 (144A)		3,200,000		3,172,674
Reynolds American, Inc. 6.875%, 05/01/20		3,500,000		3,753,661
				25,829,861
Airlines—0.1%
Latam Airlines Pass-Through Trust 4.200%, 11/15/27		3,093,914		3,039,770
4.500%, 11/15/23		2,373,077		2,309,004
				5,348,774
Auto Manufacturers—0.9%
Ford Motor Credit Co. LLC 2.943%, 01/08/19		10,000,000		10,002,122
General Motors Financial Co., Inc. 2.450%, 11/06/20		12,100,000		11,826,913
3.150%, 01/15/20		12,300,000		12,294,807
3.200%, 07/13/20		18,300,000		18,250,953
				52,374,795
Banks—23.0%
Banco Bilbao Vizcaya Argentaria S.A. 7.000%, 5Y EUR Swap + 6.155%, 02/19/19 (EUR) (b)		1,000,000		1,290,496
Banco Espirito Santo S.A. 2.625%, 05/08/17 (EUR) (l) (m)		1,700,000		627,529
4.750%, 01/15/18 (EUR) (l) (m)		3,100,000		1,115,710
Bank of America Corp. 2.625%, 04/19/21		10,500,000		10,342,969
2.650%, 04/01/19		5,000,000		4,997,407
2.741%, 3M LIBOR + 1.000%, 04/24/23 (b)		18,000,000		18,128,692
2.958%, 3M LIBOR + 0.650%, 10/01/21 (b)		18,000,000		18,043,977
4.125%, 01/22/24		2,130,000		2,192,464
6.875%, 04/25/18		26,300,000		26,368,162

BHFTI-311

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Barclays Bank plc 7.750%, 5Y USD Swap + 6.833%, 04/10/23 (b)		3,700,000	$	3,700,740
10.179%, 06/12/21 (144A)		17,900,000		21,010,962
14.000%, 3M GBP LIBOR + 13.400%, 06/15/19 (GBP) (b)		600,000		949,130
Barclays plc 2.375%, 1Y GBP Swap + 1.320%, 10/06/23 (GBP) (b)		2,600,000		3,613,046
3.125%, 01/17/24 (GBP)		1,700,000		2,417,780
3.200%, 08/10/21		5,000,000		4,940,335
3.250%, 02/12/27 (GBP)		1,800,000		2,529,654
3.921%, 3M LIBOR + 2.110%, 08/10/21 (b)		6,400,000		6,675,589
6.500%, 5Y EUR Swap + 5.875%, 09/15/19 (EUR) (b)		5,200,000		6,794,293
7.000%, 5Y GBP Swap + 5.084%, 09/15/19 (GBP) (b)		1,000,000		1,467,960
8.250%, 5Y USD Swap + 6.705%, 12/15/18 (b)		2,300,000		2,373,140
BB&T Corp. 2.985%, 3M LIBOR + 0.860%, 06/15/18 (b)		27,200,000		27,221,810
BBVA Bancomer S.A. 6.500%, 03/10/21 (144A)		7,800,000		8,287,500
BNP Paribas S.A. 3.500%, 03/01/23 (144A)		14,400,000		14,285,799
Capital One Financial Corp. 2.217%, 3M LIBOR + 0.450%, 10/30/20 (b)		14,900,000		14,841,851
2.400%, 10/30/20		14,700,000		14,409,011
CIT Group, Inc. 4.125%, 03/09/21		11,500,000		11,557,500
5.250%, 03/07/25		11,000,000		11,262,020
5.500%, 02/15/19 (144A)		802,000		821,048
Citigroup, Inc. 2.450%, 3M LIBOR + 0.690%, 10/27/22 (b)		10,600,000		10,548,951
2.705%, 3M LIBOR + 0.960%, 04/25/22 (b)		18,000,000		18,103,842
Cooperatieve Rabobank UA 4.750%, 01/15/20 (144A)		1,700,000		1,750,422
5.500%, 5Y EUR Swap + 5.250%, 06/29/20 (EUR) (b)		5,000,000		6,636,738
6.625%, 5Y EUR Swap + 6.697%, 06/29/21 (EUR) (b)		600,000		839,782
Credit Suisse Group AG 3.869%, 3M LIBOR + 1.410%, 01/12/29 (144A) (b)		14,400,000		13,958,106
Credit Suisse Group Funding Guernsey, Ltd. 3.750%, 03/26/25		5,710,000		5,576,696
3.800%, 09/15/22		18,300,000		18,427,890
3.800%, 06/09/23		12,100,000		12,122,922
Deutsche Bank AG 2.700%, 07/13/20		14,800,000		14,486,390
3.150%, 01/22/21		8,200,000		8,077,744
3.300%, 11/16/22		9,500,000		9,234,545
3.375%, 05/12/21		30,500,000		30,146,136
4.250%, 10/14/21		7,700,000		7,820,901
Dexia Credit Local S.A. 2.375%, 09/20/22 (144A)		27,100,000		26,425,144
Goldman Sachs Group, Inc. (The) 2.876%, 10/31/22		13,700,000		13,411,364
2.889%, 3M LIBOR + 0.800%, 12/13/19 (b)		1,200,000		1,207,333
Banks—(Continued)
Goldman Sachs Group, Inc. (The) 2.967%, 3M LIBOR + 1.200%, 04/30/18 (b)		14,261,000		14,269,102
3.200%, 02/23/23		15,100,000		14,881,945
3.750%, 05/22/25		5,375,000		5,320,570
HSBC Holdings plc 3.033%, 11/22/23		17,100,000		16,693,128
3.196%, 3M LIBOR + 1.500%, 01/05/22 (b)		18,400,000		18,948,696
3.400%, 03/08/21		14,900,000		14,969,112
4.287%, 3M LIBOR + 2.240%, 03/08/21 (b)		9,600,000		10,083,805
ING Bank NV 2.500%, 10/01/19 (144A)		2,100,000		2,086,404
JPMorgan Chase & Co. 2.250%, 01/23/20		12,300,000		12,150,546
2.645%, 3M LIBOR + 0.900%, 04/25/23 (b)		8,000,000		8,029,704
3.135%, 3M LIBOR + 1.100%, 06/07/21 (b)		17,000,000		17,334,427
Lloyds Bank plc 12.000%, 3M LIBOR + 11.756%, 12/16/24 (144A) (b)		5,700,000		7,170,127
Lloyds Banking Group plc 6.375%, 5Y EUR Swap + 5.290%, 06/27/20 (EUR) (b)		3,800,000		5,044,061
7.000%, 5Y GBP Swap + 5.060%, 06/27/19 (GBP) (b)		5,700,000		8,369,289
7.625%, 5Y GBP Swap + 5.010%, 06/27/23 (GBP) (b)		11,400,000		17,847,489
Mitsubishi UFJ Financial Group, Inc. 3.455%, 03/02/23		17,700,000		17,667,026
Mizuho Bank, Ltd. 2.150%, 10/20/18 (144A)		7,200,000		7,179,302
2.935%, 3M LIBOR + 1.190%, 10/20/18 (144A) (b)		11,800,000		11,861,155
Morgan Stanley 2.125%, 04/25/18		4,700,000		4,698,611
3.025%, 3M LIBOR + 1.280%, 04/25/18 (b)		32,000,000		32,018,423
Nykredit Realkredit A/S 1.000%, 04/01/18 (DKK)		554,900,000		91,588,816
1.000%, 07/01/18 (DKK)		131,000,000		21,678,158
1.000%, 10/01/18 (DKK)		93,300,000		15,503,298
Realkredit Danmark A/S 1.000%, 04/01/18 (DKK)		1,682,800,000		277,753,936
2.000%, 04/01/18 (DKK)		423,800,000		69,950,153
Royal Bank of Scotland Group plc 8.000%, 5Y USD Swap + 5.720%, 08/10/25 (b)		1,000,000		1,096,250
Royal Bank of Scotland plc (The) 6.934%, 04/09/18 (EUR)		6,732,000		8,291,571
Santander UK Group Holdings plc 2.875%, 10/16/20		1,800,000		1,783,037
3.373%, 3M LIBOR + 1.080%, 01/05/24 (b)		3,900,000		3,815,238
3.823%, 3M LIBOR + 1.400%, 11/03/28 (b)		1,100,000		1,048,141
Societe Generale S.A. 2.625%, 09/16/20 (144A)		300,000		295,954
8.250%, 5Y USD Swap + 6.394%, 11/29/18 (b)		1,600,000		1,648,000
Sumitomo Mitsui Banking Corp. 2.044%, 3M LIBOR + 0.310%, 10/18/19 (b)		14,300,000		14,290,991
2.514%, 01/17/20		14,900,000		14,754,888
Sumitomo Mitsui Financial Group, Inc. 2.934%, 03/09/21		15,100,000		15,018,362

BHFTI-312

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Sumitomo Mitsui Trust Bank, Ltd. 2.050%, 03/06/19 (144A)		10,000,000	$	9,923,759
Toronto-Dominion Bank (The) 2.500%, 01/18/22 (144A)		20,600,000		20,256,672
UBS AG 2.304%, 3M LIBOR + 0.320%, 05/28/19 (144A) (b)		6,000,000		6,001,680
2.355%, 3M LIBOR + 0.320%, 12/07/18 (144A) (b)		11,600,000		11,607,969
2.450%, 12/01/20 (144A)		9,700,000		9,523,926
2.627%, 3M LIBOR + 0.580%, 06/08/20 (144A) (b)		15,800,000		15,857,496
2.856%, 3M LIBOR + 0.850%, 06/01/20 (b)		4,000,000		4,040,845
4.750%, 5Y USD Swap + 3.765%, 05/22/23 (b)		7,900,000		7,904,234
7.625%, 08/17/22		3,600,000		4,041,000
UBS Group Funding Switzerland AG 3.000%, 04/15/21 (144A)		14,000,000		13,852,166
4.125%, 04/15/26 (144A)		10,200,000		10,235,366
Wells Fargo & Co. 5.895%, 3M LIBOR + 3.770%, 06/15/18 (b)		11,300,000		11,462,042
				1,350,888,350
Beverages—0.0%
Anheuser-Busch InBev Finance, Inc. 3.300%, 02/01/23		1,400,000		1,401,029
Biotechnology—0.0%
Baxalta, Inc. 2.875%, 06/23/20		1,600,000		1,588,750
Building Materials—0.0%
Holcim U.S. Finance Sarl & Cie SCS 6.000%, 12/30/19 (144A)		1,500,000		1,571,905
Commercial Services—0.2%
ERAC USA Finance LLC 2.350%, 10/15/19 (144A)		10,138,000		10,036,206
Computers—1.1%
Apple, Inc. 2.900%, 09/12/27		300,000		285,568
3.000%, 06/20/27		15,000,000		14,460,082
Dell International LLC / EMC Corp. 4.420%, 06/15/21 (144A)		17,700,000		18,156,094
5.450%, 06/15/23 (144A)		9,600,000		10,176,239
EMC Corp. 1.875%, 06/01/18		400,000		398,887
2.650%, 06/01/20		4,090,000		3,943,789
Hewlett Packard Enterprise Co. 2.850%, 10/05/18		14,800,000		14,815,203
				62,235,862
Diversified Financial Services—3.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.300%, 01/23/23		3,600,000		3,500,931
4.625%, 10/30/20 (e)		1,100,000		1,132,259
Ally Financial, Inc. 3.500%, 01/27/19		2,600,000		2,603,250
Diversified Financial Services—(Continued)
Ally Financial, Inc. 3.600%, 05/21/18		1,600,000		1,600,000
3.750%, 11/18/19		1,300,000		1,307,371
B3 S.A. Brasil Bolsa Balcao 5.500%, 07/16/20		1,000,000		1,027,500
Blackstone CQP Holdco L.P. 6.000%, 08/18/21 (144A) (n)		10,700,000		10,726,750
6.500%, 03/20/21 (144A) (n)		20,700,000		20,803,500
Daiwa Securities Group, Inc. 3.129%, 04/19/22 (144A)		17,900,000		17,670,074
Discover Financial Services 5.500%, 10/30/27		12,000,000		11,730,000
Emerald Bay S.A.
Zero Coupon, 10/08/20 (144A) (EUR)		3,294,000		3,786,731
Intercontinental Exchange, Inc. 2.350%, 09/15/22		12,500,000		12,070,271
International Lease Finance Corp. 4.625%, 04/15/21		2,000,000		2,064,280
Jefferies Finance LLC / JFIN Co-Issuer Corp. 7.375%, 04/01/20 (144A)		500,000		505,000
LeasePlan Corp. NV 2.875%, 01/22/19 (144A)		17,600,000		17,544,927
Navient Corp. 4.875%, 06/17/19		500,000		504,000
5.500%, 01/15/19		1,500,000		1,516,500
5.875%, 03/25/21		500,000		511,250
8.450%, 06/15/18		8,986,000		9,062,381
Nordea Kredit Realkreditaktieselskab 1.000%, 04/01/18 (DKK)		164,400,000		27,134,982
1.000%, 10/01/18 (DKK)		140,600,000		23,362,955
2.000%, 04/01/18 (DKK)		15,000,000		2,475,819
NTT Finance Corp. 1.900%, 07/21/21		6,200,000		5,963,185
OneMain Financial Holdings LLC 7.250%, 12/15/21 (144A)		3,100,000		3,212,375
Piper Jaffray Cos. 5.060%, 10/09/18 (144A) (n)		5,000,000		5,041,853
Preferred Term Securities XX, Ltd. / Preferred Term Securities XX, Inc. 2.525%, 3M LIBOR + 0.400%, 03/22/38 (144A) (b)		10,717,919		9,780,101
Rio Oil Finance Trust 9.250%, 07/06/24 (144A)		2,891,712		3,138,954
Springleaf Finance Corp. 6.125%, 05/15/22		9,100,000		9,251,060
6.875%, 03/15/25		11,800,000		11,844,250
8.250%, 12/15/20		7,000,000		7,621,250
				228,493,759
Electric—0.8%
Enel Finance International NV 2.875%, 05/25/22 (144A)		9,000,000		8,783,282
FirstEnergy Corp. 3.900%, 07/15/27		1,300,000		1,276,691
IPALCO Enterprises, Inc. 3.450%, 07/15/20		6,500,000		6,500,650

BHFTI-313

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Electric—(Continued)
NextEra Energy Capital Holdings, Inc. 2.400%, 09/15/19		4,192,000	$	4,160,378
Sempra Energy 2.575%, 3M LIBOR + 0.450%, 03/15/21 (b)		17,600,000		17,651,215
Southern Co. (The) 2.350%, 07/01/21		1,400,000		1,356,659
Southern Power Co. 1.950%, 12/15/19		10,500,000		10,316,223
				50,045,098
Food—0.3%
Danone S.A. 2.077%, 11/02/21 (144A)		13,943,000		13,361,310
2.589%, 11/02/23 (144A)		3,858,000		3,655,511
Kraft Heinz Foods Co. 2.800%, 07/02/20		1,700,000		1,688,227
				18,705,048
Healthcare-Products—0.3%
Becton Dickinson & Co. 2.133%, 06/06/19		12,000,000		11,864,137
Boston Scientific Corp. 6.000%, 01/15/20		4,337,000		4,551,069
				16,415,206
Healthcare-Services—0.1%
HCA, Inc. 3.750%, 03/15/19		4,500,000		4,517,100
Home Builders—0.1%
DR Horton, Inc. 4.000%, 02/15/20		7,800,000		7,931,844
Housewares—0.1%
Newell Brands, Inc. 3.850%, 04/01/23		7,400,000		7,385,596
Insurance—0.0%
Ambac Assurance Corp. 5.100%, 06/07/20 (144A) (n)		144		190
Ambac LSNI LLC 6.811%, 3M LIBOR + 5.000%, 02/12/23 (144A) (b)		200,694		202,701
				202,891
Internet—0.2%
Amazon.com, Inc. 3.150%, 08/22/27 (144A)		10,500,000		10,130,867
Booking Holdings, Inc. 2.750%, 03/15/23		4,600,000		4,439,096
				14,569,963
Lodging—0.1%
Hyatt Hotels Corp. 4.850%, 03/15/26		2,700,000		2,824,655
Lodging—(Continued)
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. 4.250%, 05/30/23 (144A)		3,800,000		3,724,000
				6,548,655
Media—0.6%
CBS Radio, Inc. 7.250%, 11/01/24 (144A)		4,000,000		4,075,000
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 4.464%, 07/23/22		11,529,000		11,776,750
CSC Holdings LLC 5.375%, 02/01/28 (144A)		3,800,000		3,589,442
DISH DBS Corp. 4.250%, 04/01/18		3,900,000		3,900,000
Time Warner Cable LLC 6.750%, 07/01/18		4,900,000		4,946,176
Virgin Media Secured Finance plc 5.125%, 01/15/25 (GBP)		2,000,000		2,862,122
5.500%, 01/15/25 (GBP)		2,700,000		3,873,334
				35,022,824
Miscellaneous Manufacturing—0.3%
General Electric Co. 5.000%, 3M LIBOR + 3.330%, 01/21/21 (b)		2,000,000		1,980,000
Textron, Inc. 2.361%, 3M LIBOR + 0.550%, 11/10/20 (b)		14,400,000		14,384,465
				16,364,465
Oil & Gas—0.3%
BP Capital Markets plc 2.183%, 3M LIBOR + 0.350%, 08/14/18 (b)		12,000,000		12,007,180
Petrobras Global Finance B.V. 6.125%, 01/17/22		8,000,000		8,536,000
				20,543,180
Oil, Gas & Consumable Fuels—0.1%
Pioneer Natural Resources Co. 6.875%, 05/01/18		2,000,000		2,007,025
7.500%, 01/15/20		1,500,000		1,613,973
				3,620,998
Pharmaceuticals—0.8%
AbbVie, Inc. 1.800%, 05/14/18		11,200,000		11,191,834
2.850%, 05/14/23		5,000,000		4,842,272
Allergan Funding SCS 3.450%, 03/15/22		4,900,000		4,858,108
CVS Health Corp. 3.350%, 03/09/21		2,900,000		2,915,785
4.300%, 03/25/28		5,000,000		5,021,303
Shire Acquisitions Investments Ireland DAC 1.900%, 09/23/19		13,200,000		12,982,144
2.400%, 09/23/21		1,900,000		1,834,492

BHFTI-314

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Valeant Pharmaceuticals International, Inc. 5.375%, 03/15/20 (144A)		3,333,000	$	3,350,665
				46,996,603
Pipelines—0.4%
Andeavor Logistics L.P. / Tesoro Logistics Finance Corp. 5.500%, 10/15/19		5,800,000		5,968,780
Enbridge, Inc. 2.825%, 3M LIBOR + 0.700%, 06/15/20 (b)		11,500,000		11,543,996
Plains All American Pipeline L.P. / PAA Finance Corp. 4.500%, 12/15/26		1,200,000		1,190,271
Sabine Pass Liquefaction LLC 5.875%, 06/30/26		1,255,000		1,371,715
Sunoco Logistics Partners Operations .LP. 5.950%, 12/01/25		1,800,000		1,948,320
				22,023,082
Real Estate—0.2%
American Homes 4 Rent L.P. 4.250%, 02/15/28		1,900,000		1,861,873
Ontario Teachers’ Cadillac Fairview Properties Trust 3.125%, 03/20/22 (144A)		1,200,000		1,193,210
3.875%, 03/20/27 (144A)		1,700,000		1,710,696
Tesco Property Finance 6 plc 5.411%, 07/13/44 (GBP)		1,071,343		1,693,034
WEA Finance LLC 3.150%, 04/05/22 (144A)		4,770,000		4,717,167
				11,175,980
Real Estate Investment Trusts—2.1%
American Campus Communities Operating Partnership LP 3.625%, 11/15/27		2,200,000		2,092,911
Brixmor Operating Partnership L.P. 4.125%, 06/15/26		5,500,000		5,394,112
CBL & Associates L.P. 5.950%, 12/15/26		7,200,000		6,058,727
Digital Realty Trust L.P. 3.400%, 10/01/20		5,300,000		5,331,822
4.750%, 10/01/25		8,000,000		8,352,022
Goodman U.S. Finance Three LLC 3.700%, 03/15/28 (144A)		10,800,000		10,378,779
Hospitality Properties Trust 4.375%, 02/15/30		11,490,000		11,024,362
Omega Healthcare Investors, Inc. 4.750%, 01/15/28 (e)		8,900,000		8,636,705
Public Storage 2.370%, 09/15/22		2,500,000		2,407,271
3.094%, 09/15/27		15,500,000		14,886,676
Realty Income Corp. 3.875%, 04/15/25		10,700,000		10,666,141
Senior Housing Properties Trust 4.750%, 02/15/28		9,600,000		9,405,739
Simon Property Group L.P. 2.750%, 06/01/23		18,690,000		18,119,693
Real Estate Investment Trusts —(Continued)
Welltower, Inc. 4.250%, 04/01/26		10,300,000		10,427,942
				123,182,902
Retail—0.1%
CVS Health Corp. 2.750%, 12/01/22		2,900,000		2,791,433
CVS Pass-Through Trust 6.943%, 01/10/30		786,694		889,522
				3,680,955
Software—0.3%
Oracle Corp. 1.900%, 09/15/21		6,000,000		5,792,738
VMware, Inc. 2.300%, 08/21/20		10,100,000		9,823,884
				15,616,622
Telecommunications—0.9%
AT&T, Inc. 2.372%, 3M LIBOR + 0.650%, 01/15/20 (b)		11,900,000		11,943,726
2.672%, 3M LIBOR + 0.950%, 07/15/21 (b)		14,900,000		15,057,692
Verizon Communications, Inc. 2.454%, 3M LIBOR + 0.550%, 05/22/20 (b)		6,500,000		6,527,853
3.376%, 02/15/25		10,766,000		10,582,061
3.500%, 11/01/24		6,600,000		6,533,201
				50,644,533
Transportation—0.0%
AP Moller—Maersk A/S 2.875%, 09/28/20 (144A)		1,800,000		1,784,699
Trucking & Leasing—0.1%
Park Aerospace Holdings, Ltd. 4.500%, 03/15/23 (144A)		9,000,000		8,527,500
Total Corporate Bonds & Notes (Cost $2,199,577,284)				2,225,275,035
Asset-Backed Securities—17.0%
Asset-Backed - Automobile—0.3%
AmeriCredit Automobile Receivables Trust 1.510%, 05/18/20		3,161,823		3,151,920
DT Auto Owner Trust 1.720%, 05/15/20 (144A)		3,863,649		3,856,432
Exeter Automobile Receivables Trust 1.960%, 03/15/21 (144A)		4,340,791		4,326,716
Flagship Credit Auto Trust 1.930%, 12/15/21 (144A)		9,601,306		9,567,520
				20,902,588

BHFTI-315

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Credit Card—0.8%
Chase Issuance Trust 2.077%, 1M LIBOR + 0.300%, 01/18/22 (b)		12,000,000	$	12,032,299
Golden Credit Card Trust 2.177%, 1M LIBOR + 0.400%, 02/15/21 (144A) (b)		12,000,000		12,028,219
Master Credit Card Trust II 2.331%, 1M LIBOR + 0.490%, 07/22/24 (144A) (b)		14,800,000		14,795,550
Synchrony Credit Card Master Note Trust 2.970%, 03/15/24		6,500,000		6,498,077
				45,354,145
Asset-Backed - Home Equity—3.1%
Accredited Mortgage Loan Trust 2.452%, 1M LIBOR + 0.580%, 07/25/34 (b)		13,156,495		12,926,411
ACE Securities Corp. Home Equity Loan Trust 2.022%, 1M LIBOR + 0.150%, 04/25/36 (b)		7,112,261		6,964,391
2.022%, 1M LIBOR + 0.150%, 07/25/36 (b)		9,623,844		4,838,817
2.342%, 1M LIBOR + 0.470%, 10/25/35 (b)		7,100,000		7,050,354
Asset-Backed Funding Certificates Trust 2.572%, 1M LIBOR + 0.700%, 06/25/34 (b)		2,126,483		2,074,139
Asset-Backed Securities Corp. Home Equity Loan Trust 1.952%, 1M LIBOR + 0.080%, 05/25/37 (b)		26,398		18,710
2.322%, 1M LIBOR + 0.450%, 11/25/35 (b)		2,000,000		1,998,791
Bear Stearns Asset-Backed Securities I Trust 2.122%, 1M LIBOR + 0.250%, 04/25/37 (b)		14,000,546		14,314,568
2.311%, 1M LIBOR + 0.460%, 02/25/36 (b)		1,000,000		970,753
2.672%, 1M LIBOR + 0.800%, 10/27/32 (b)		17,637		16,997
2.872%, 1M LIBOR + 1.000%, 10/25/37 (b)		3,219,175		3,233,349
2.877%, 1M LIBOR + 1.005%, 06/25/35 (b)		7,800,000		7,792,116
Citigroup Mortgage Loan Trust 2.032%, 1M LIBOR + 0.160%, 12/25/36 (144A) (b)		9,096,893		5,948,189
2.042%, 1M LIBOR + 0.170%, 05/25/37 (b)		6,295,971		6,248,439
HSI Asset Securitization Corp. Trust 2.042%, 1M LIBOR + 0.170%, 12/25/36 (b)		10,999,484		4,503,282
MASTR Asset-Backed Securities Trust 1.922%, 1M LIBOR + 0.050%, 08/25/36 (b)		6,212,463		3,230,483
2.042%, 1M LIBOR + 0.170%, 10/25/36 (b)		6,119,729		5,986,167
Merrill Lynch Mortgage Investors Trust 2.372%, 1M LIBOR + 0.500%, 06/25/36 (b)		1,411,719		1,413,042
Morgan Stanley ABS Capital I, Inc. Trust 1.932%, 1M LIBOR + 0.060%, 05/25/37 (b)		179,930		163,102
Morgan Stanley ABS Capital, Inc. Trust 2.022%, 1M LIBOR + 0.150%, 06/25/36 (b)		648,993		571,180
Morgan Stanley Home Equity Loan Trust 2.042%, 1M LIBOR + 0.170%, 04/25/37 (b)		21,557,433		14,159,030
Nomura Home Equity Loan, Inc. 2.202%, 1M LIBOR + 0.330%, 11/25/35 (b)		11,000,000		9,713,345
NovaStar Mortgage Funding Trust 2.072%, 1M LIBOR + 0.200%, 09/25/37 (b)		8,352,204		8,111,762
Option One Mortgage Corp. Asset-Backed Certificates 2.512%, 1M LIBOR + 0.640%, 08/25/33 (b)		13,288		13,019
Renaissance Home Equity Loan Trust 2.752%, 1M LIBOR + 0.880%, 08/25/33 (b)		106,933		104,412
5.812%, 11/25/36 (o)		22,663,861		13,517,006
Residential Asset Securities Corp. Trust 2.022%, 1M LIBOR + 0.150%, 07/25/36 (b)		8,650,160		7,940,020
Asset-Backed - Home Equity—(Continued)
Residential Asset Securities Corp. Trust 2.152%, 1M LIBOR + 0.280%, 06/25/36 (b)		6,000,000		5,883,257
2.452%, 1M LIBOR + 0.580%, 06/25/33 (b)		969,043		839,035
2.637%, 1M LIBOR + 0.765%, 03/25/34 (b)		1,794,643		1,796,872
Soundview Home Loan Trust 2.022%, 1M LIBOR + 0.150%, 06/25/37 (b)		5,202,092		3,781,664
2.052%, 1M LIBOR + 0.180%, 05/25/36 (b)		4,830,464		4,816,257
2.122%, 1M LIBOR + 0.250%, 10/25/36 (b)		9,100,000		8,588,767
WaMu Asset-Backed Certificates Trust 2.097%, 1M LIBOR + 0.225%, 05/25/47 (b)		11,482,448		11,021,224
				180,548,950
Asset-Backed - Manufactured Housing—0.0%
Conseco Finance Corp. 6.220%, 03/01/30		26,867		28,468
Mid-State Trust 7.791%, 03/15/38		98,730		105,306
				133,774
Asset-Backed - Other—12.0%
Allegro CLO, Ltd. 2.987%, 3M LIBOR + 1.220%, 01/30/26 (144A) (b)		10,000,000		10,003,520
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates 2.652%, 1M LIBOR + 0.780%, 05/25/34 (b)		4,959,144		4,950,240
Apidos CLO 2.865%, 3M LIBOR + 1.120%, 07/22/26 (144A) (b)		11,000,000		10,997,943
Ares CLO, Ltd. 3.164%, 3M LIBOR + 1.180%, 08/28/25 (144A) (b)		13,700,000		13,706,603
Argent Securities, Inc. Asset-Backed Pass-Through Certificates 2.252%, 1M LIBOR + 0.380%, 02/25/36 (b)		6,143,529		4,790,340
Avery Point CLO, Ltd. 2.854%, 3M LIBOR + 1.120%, 01/18/25 (144A) (b)		15,000,000		14,994,870
BlueMountain CLO, Ltd. 2.650%, 3M LIBOR + 0.890%, 10/29/25 (144A) (b)		8,895,888		8,894,065
Brookside Mill CLO, Ltd. 2.524%, 3M LIBOR + 0.820%, 01/17/28 (144A) (b)		11,295,000		11,313,614
Catamaran CLO, Ltd. 3.134%, 3M LIBOR + 1.400%, 10/18/26 (144A) (b)		8,000,000		8,013,400
Cent CLO, Ltd. 2.845%, 3M LIBOR + 1.100%, 01/25/26 (144A) (b)		6,700,000		6,698,948
Chapel B.V. 0.332%, 3M EURIBOR + 0.660%, 11/17/64 (EUR) (b)		830,058		1,019,830
CIFC Funding, Ltd. 2.502%, 3M LIBOR + 0.780%, 04/15/27 (144A) (b)		15,300,000		15,292,625
Citigroup Mortgage Loan Trust, Inc. 1.932%, 1M LIBOR + 0.060%, 07/25/45 (b)		337,740		267,025
2.112%, 1M LIBOR + 0.240%, 10/25/36 (b)		1,000,602		1,000,350
Countrywide Asset-Backed Certificates 2.012%, 1M LIBOR + 0.140%, 04/25/47 (b)		4,476,368		4,339,513
2.022%, 1M LIBOR + 0.150%, 05/25/37 (b)		1,436,046		1,416,757
2.022%, 1M LIBOR + 0.150%, 06/25/47 (b)		460,505		452,642
2.072%, 1M LIBOR + 0.200%, 06/25/47 (b)		9,063,818		7,392,324
2.092%, 1M LIBOR + 0.220%, 09/25/37 (b)		7,344,737		6,112,161
2.152%, 1M LIBOR + 0.280%, 09/25/36 (b)		8,260,546		8,229,008

BHFTI-316

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Countrywide Asset-Backed Certificates 2.432%, 1M LIBOR + 0.560%, 12/25/35 (b)		1,663,288	$	1,666,391
4.769%, 10/25/46 (b)		6,337,377		6,102,538
4.826%, 10/25/32 (b)		10,880,587		9,787,261
Countrywide Asset-Backed Certificates Trust 3.597%, 1M LIBOR + 1.725%, 11/25/34 (b)		2,980,221		2,928,198
Credit Suisse Mortgage Trust 4.500%, 03/25/21		11,636,546		11,660,911
CVP Cascade CLO-1, Ltd. 2.872%, 3M LIBOR + 1.150%, 01/16/26 (144A) (b)		8,000,000		7,997,976
CWABS Asset-Backed Certificates Trust 2.022%, 1M LIBOR + 0.150%, 09/25/46 (b)		4,591,159		4,551,861
2.022%, 1M LIBOR + 0.150%, 03/25/47 (b)		1,740,480		1,672,470
2.572%, 1M LIBOR + 0.700%, 11/25/35 (b)		10,000,000		9,983,674
Emerson Park CLO, Ltd. 2.702%, 3M LIBOR + 0.980%, 07/15/25 (144A) (b)		6,598,064		6,596,091
First Franklin Mortgage Loan Trust 2.012%, 1M LIBOR + 0.140%, 12/25/36 (b)		6,901,102		4,229,934
2.232%, 1M LIBOR + 0.360%, 10/25/35 (b)		6,294,562		6,325,328
3.297%, 1M LIBOR + 1.425%, 10/25/34 (b)		5,300,148		5,218,872
Flagship, Ltd. 2.865%, 3M LIBOR + 1.120%, 01/20/26 (144A) (b)		13,000,000		12,994,501
Galaxy CLO, Ltd. 2.980%, 3M LIBOR + 1.130%, 11/16/25 (144A) (b)		9,973,702		9,976,874
GoldenTree Loan Opportunities, Ltd. 3.130%, 3M LIBOR + 1.370%, 10/29/26 (144A) (b)		10,200,000		10,200,102
GSAMP Trust 2.042%, 1M LIBOR + 0.170%, 12/25/36 (b)		3,168,489		1,695,848
2.262%, 1M LIBOR + 0.390%, 01/25/36 (b)		14,600,000		14,433,297
3.192%, 1M LIBOR + 1.320%, 12/25/34 (b)		7,095,514		5,226,801
Home Equity Loan Trust 2.102%, 1M LIBOR + 0.230%, 04/25/37 (b)		16,100,000		14,027,044
Jamestown CLO, Ltd. 2.951%, 3M LIBOR + 1.220%, 01/17/27 (144A) (b)		17,800,000		17,795,959
JMP Credit Advisors CLO IIIR, Ltd. 2.567%, 3M LIBOR + 0.850%, 01/17/28 (144A) (b)		14,900,000		14,898,391
JPMorgan Mortgage Acquisition Trust 2.012%, 1M LIBOR + 0.140%, 03/25/47 (b)		3,392,406		3,379,246
KVK CLO, Ltd. 2.872%, 3M LIBOR + 1.150%, 01/15/26 (144A) (b)		17,800,000		17,794,108
Lehman XS Trust 2.042%, 1M LIBOR + 0.170%, 02/25/37 (b)		13,315,936		10,653,035
2.672%, 1M LIBOR + 0.800%, 10/25/35 (b)		2,969,193		2,931,944
Long Beach Mortgage Loan Trust 2.027%, 1M LIBOR + 0.155%, 08/25/36 (b)		14,897,724		9,969,524
2.392%, 1M LIBOR + 0.520%, 08/25/45 (b)		825,889		801,506
2.652%, 1M LIBOR + 0.780%, 08/25/35 (b)		10,000,000		9,574,046
Madison Park Funding, Ltd. 2.849%, 3M LIBOR + 1.110%, 01/19/25 (144A) (b)		17,900,000		17,895,829
Marathon CLO, Ltd. 2.762%, 3M LIBOR + 0.870%, 11/21/27 (144A) (b)		14,700,000		14,669,248
Merrill Lynch Mortgage Investors Trust 2.112%, 1M LIBOR + 0.240%, 08/25/37 (b)		3,300,000		2,719,238
Monarch Grove CLO 18-1 2.443%, 3M LIBOR + 0.880%, 01/25/28 (144A) (b)		8,800,000		8,799,120
Asset-Backed - Other—(Continued)
Morgan Stanley ABS Capital I, Inc. Trust 1.997%, 1M LIBOR + 0.125%, 07/25/36 (b)		5,131,417		4,464,863
2.182%, 1M LIBOR + 0.310%, 12/25/35 (b)		3,145,072		3,084,996
2.832%, 1M LIBOR + 0.960%, 06/25/35 (b)		2,511,456		2,522,080
MP CLO, Ltd. 2.922%, 3M LIBOR + 1.200%, 01/15/27 (144A) (b)		11,800,000		11,797,015
OneMain Financial Issuance Trust 3.190%, 03/18/26 (144A)		5,537,669		5,549,654
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates 2.362%, 1M LIBOR + 0.490%, 09/25/35 (b)		5,000,000		4,713,946
2.922%, 1M LIBOR + 1.050%, 10/25/34 (b)		5,800,000		5,855,789
3.672%, 1M LIBOR + 1.800%, 12/25/34 (b)		4,636,570		4,757,407
RAMP Trust 2.172%, 1M LIBOR + 0.300%, 05/25/36 (b)		23,386,513		20,123,776
2.232%, 1M LIBOR + 0.360%, 08/25/46 (b)		11,540,553		9,571,818
Residential Asset Securities Corp. Trust 2.032%, 1M LIBOR + 0.160%, 11/25/36 (b)		6,568,430		6,205,002
2.212%, 1M LIBOR + 0.340%, 04/25/37 (b)		21,555,046		19,845,304
Saxon Asset Securities Trust 2.272%, 1M LIBOR + 0.400%, 09/25/47 (b)		2,530,000		2,374,545
Securitized Asset-Backed Receivables LLC Trust 2.122%, 1M LIBOR + 0.250%, 05/25/36 (b)		9,422,100		6,179,391
Shackleton CLO, Ltd. 2.842%, 3M LIBOR + 1.120%, 01/13/25 (144A) (b)		2,600,000		2,599,181
Sofi Consumer Loan Program Trust 2.550%, 02/25/27 (144A)		9,833,942		9,803,452
Sound Point CLO, Ltd. 2.712%, 3M LIBOR + 0.990%, 07/15/25 (144A) (b)		5,828,694		5,826,858
2.845%, 3M LIBOR + 1.100%, 01/21/26 (144A) (b)		14,741,724		14,744,024
Soundview Home Loan Trust 1.982%, 1M LIBOR + 0.110%, 02/25/37 (b)		2,515,054		1,048,827
2.832%, 1M LIBOR + 0.960%, 05/25/35 (b)		2,400,000		2,397,335
Specialty Underwriting & Residential Finance Trust 2.142%, 1M LIBOR + 0.270%, 04/25/37 (b)		5,287,767		3,171,138
SpringCastle America Funding LLC 3.050%, 04/25/29 (144A) (n)		9,427,892		9,414,458
Structured Asset Investment Loan Trust 2.022%, 1M LIBOR + 0.150%, 09/25/36 (b)		6,379,025		6,104,510
2.292%, 1M LIBOR + 0.420%, 11/25/35 (b)		7,700,000		7,390,507
2.607%, 1M LIBOR + 0.735%, 08/25/35 (b)		4,519,368		4,524,350
Structured Asset Securities Corp. Mortgage Loan Trust 2.032%, 1M LIBOR + 0.160%, 03/25/36 (b)		968,772		967,667
2.772%, 1M LIBOR + 0.900%, 08/25/37 (b)		616,028		624,516
Sudbury Mill CLO, Ltd. 2.881%, 3M LIBOR + 1.150%, 01/17/26 (144A) (b)		10,000,000		10,001,550
2.901%, 3M LIBOR + 1.170%, 01/17/26 (144A) (b)		8,500,000		8,501,411
Symphony CLO, Ltd. 2.752%, 3M LIBOR + 1.030%, 10/15/25 (144A) (b)		14,790,384		14,791,819
TICP CLO, Ltd. 2.905%, 3M LIBOR + 1.160%, 07/20/26 (144A) (b)		8,000,000		7,997,224
2.933%, 3M LIBOR + 1.180%, 04/26/26 (144A) (b)		8,000,000		7,997,952
U.S. Small Business Administration 5.500%, 10/01/18		1,760		1,765
6.220%, 12/01/28		2,268,377		2,453,893

BHFTI-317

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Asset-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Asset-Backed - Other—(Continued)
Venture CLO, Ltd. 2.542%, 3M LIBOR + 0.820%, 04/15/27 (144A) (b)		11,900,000	$	11,895,014
Venture XVI CLO, Ltd. 2.567%, 3M LIBOR + 0.820%, 01/15/28 (144A) (b)		11,900,000		11,903,368
Voya CLO, Ltd. 2.465%, 3M LIBOR + 0.720%, 07/25/26 (144A) (b)		9,800,000		9,796,413
Wells Fargo Home Equity Asset-Backed Securities Trust 2.352%, 1M LIBOR + 0.480%, 12/25/35 (b)		20,861,000		20,850,426
WhiteHorse, Ltd. 2.978%, 3M LIBOR + 1.200%, 02/03/25 (144A) (b)		5,452,517		5,454,403
				706,350,591
Asset-Backed - Student Loan—0.8%
Nelnet Student Loan Trust 3.594%, 3M LIBOR + 1.650%, 11/25/24 (b)		1,944,637		1,974,058
SMB Private Education Loan Trust 2.227%, 1M LIBOR + 0.450%, 06/17/24 (144A) (b)		4,852,394		4,856,249
SoFi Professional Loan Program LLC 1.550%, 03/26/40 (144A)		7,512,009		7,448,802
3.020%, 02/25/40 (144A)		8,333,440		8,192,963
Sofi Professional Loan Program Trust 2.640%, 08/25/47 (144A)		17,700,000		17,654,106
Utah State Board of Regents 2.622%, 1M LIBOR + 0.750%, 01/25/57 (b)		8,319,307		8,316,894
				48,443,072
Total Asset-Backed Securities (Cost $940,415,878)				1,001,733,120
Foreign Government—6.7%
Provincial—1.2%
Province of Ontario Canada 1.650%, 09/27/19		7,000,000		6,916,706
3.150%, 06/02/22 (CAD)		9,300,000		7,447,435
4.000%, 06/02/21 (CAD)		31,100,000		25,443,173
4.400%, 04/14/20		2,700,000		2,796,471
Province of Quebec Canada 3.500%, 07/29/20		10,600,000		10,804,050
3.500%, 12/01/22 (CAD)		3,300,000		2,687,719
4.250%, 12/01/21 (CAD)		15,200,000		12,621,775
				68,717,329
Regional Government—0.3%
Japan Finance Organization for Municipalities 2.000%, 09/08/20 (144A)		18,100,000		17,723,069
Sovereign—5.2%
Brazil Letras do Tesouro Nacional
Zero Coupon, 07/01/18 (BRL)		63,600,000		18,973,565
Zero Coupon, 10/01/18 (BRL)		673,000,000		197,720,263
Cyprus Government International Bonds 3.750%, 07/26/23 (EUR)		4,100,000		5,659,306
3.875%, 05/06/22 (EUR)		9,300,000		12,819,019
4.250%, 11/04/25 (EUR)		9,500,000		13,647,225
Sovereign—(Continued)
Italy Buoni Ordinari del Tesoro BOT
Zero Coupon, 06/29/18 (EUR)		23,900,000		29,435,979
Japan Bank for International Cooperation 2.375%, 07/21/22		3,700,000		3,614,150
2.875%, 07/21/27		11,200,000		10,962,118
Kuwait International Government Bond 2.750%, 03/20/22 (144A)		12,000,000		11,760,480
				304,592,105
Total Foreign Government (Cost $411,445,140)				391,032,503
Mortgage-Backed Securities—5.4%
Collateralized Mortgage Obligations—4.6%
Adjustable Rate Mortgage Trust 3.501%, 11/25/35 (b)		364,601		312,638
Alternative Loan Trust 2.032%, 1M LIBOR + 0.160%, 12/25/46 (b)		5,528,264		5,429,508
5.500%, 02/25/36		3,453,269		3,151,207
6.000%, 1M LIBOR + 6.000%, 08/25/36 (b) (m)		4,361,222		4,430,539
6.000%, 04/25/37		3,834,239		3,032,283
Alternative Loan Trust Resecuritization 3.278%, 03/25/47 (b)		1,692,785		1,685,432
American Home Mortgage Assets Trust 2.203%, 12M MTA + 0.920%, 11/25/46 (b)		3,552,057		1,975,678
American Home Mortgage Investment Trust 4.211%, 6M LIBOR + 2.000%, 02/25/45 (b)		863,058		879,239
Banc of America Alternative Loan Trust 12.823%, -2.2 x 1M LIBOR + 16.940%, 09/25/35 (b)		3,203,018		3,623,062
20.914%, -2.2 x 1M LIBOR + 28.400%, 11/25/46 (b)		1,275,373		1,603,090
Banc of America Funding Trust 3.608%, 05/25/35 (b)		911,745		951,990
3.642%, 02/20/36 (b)		2,180,857		2,161,909
4.028%, 01/20/47 (b)		183,275		175,902
Banc of America Mortgage Trust 6.000%, 05/25/37		10,314,740		9,051,149
BCAP LLC Trust 2.082%, 1M LIBOR + 0.210%, 05/25/47 (b)		11,483,398		10,671,410
4.000%, 02/26/37 (144A) (b)		46,093		45,964
5.250%, 02/26/36 (144A) (b)		3,979,437		3,238,801
5.250%, 08/26/37 (144A) (b)		3,650,556		3,739,690
Bear Stearns Adjustable Rate Mortgage Trust 3.619%, 10/25/35 (b)		2,750,201		2,749,668
3.728%, 02/25/33 (b)		11,124		10,560
Bear Stearns ALT-A Trust 2.712%, 1M LIBOR + 0.840%, 11/25/34 (b)		182,213		181,529
3.541%, 11/25/36 (b)		3,656,234		3,398,469
3.589%, 09/25/35 (b)		909,492		803,453
3.637%, 05/25/36 (b)		2,278,386		1,685,602
3.688%, 05/25/35 (b)		1,139,969		1,147,894
4.267%, 11/25/36 (b)		2,406,942		2,044,941
Bear Stearns Structured Products, Inc. Trust 3.319%, 12/26/46 (b)		788,349		692,262
3.633%, 01/26/36 (b)		1,022,355		906,135

BHFTI-318

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Chase Mortgage Finance Trust 3.460%, 12/25/35 (b)		2,229,330	$	2,214,825
3.541%, 09/25/36 (b)		2,809,303		2,761,200
3.580%, 03/25/37 (b)		1,560,857		1,551,208
ChaseFlex Trust 2.172%, 1M LIBOR + 0.300%, 07/25/37 (b)		5,484,454		5,170,982
Chevy Chase Funding LLC Mortgage-Backed Certificate 2.122%, 1M LIBOR + 0.250%, 08/25/35 (144A) (b)		35,602		34,877
CHL Mortgage Pass-Through Trust 2.072%, 1M LIBOR + 0.200%, 04/25/46 (b)		2,491,142		2,304,803
Citicorp Mortgage Securities Trust 6.000%, 05/25/37		2,156,733		2,110,924
Citigroup Mortgage Loan Trust 3.081%, 10/25/46 (b)		1,439,809		1,283,942
3.180%, 1Y CMT + 2.150%, 09/25/35 (b)		436,516		441,499
3.410%, 1Y CMT + 2.100%, 09/25/35 (b)		1,413,484		1,430,927
3.630%, 1Y CMT + 2.400%, 10/25/35 (b)		2,251,174		2,274,841
Countrywide Alternative Loan Trust 2.032%, 1M LIBOR + 0.210%, 03/20/46 (b)		159,319		134,600
3.129%, -1 x 1M LIBOR + 5.000%, 05/25/35 (b) (c)		1,443,195		95,898
6.000%, 03/25/35		14,581,566		13,751,910
6.000%, 07/25/37		5,987,138		4,543,249
Countrywide Home Loan Mortgage Pass-Through Trust 2.452%, 1M LIBOR + 0.580%, 04/25/35 (b)		118,550		112,156
2.512%, 1M LIBOR + 0.640%, 03/25/35 (b)		507,301		499,129
3.402%, 09/20/36 (b)		3,063,333		2,647,184
5.500%, 12/25/34		5,763,602		5,787,422
Countrywide Home Reperforming Loan REMIC Trust 2.212%, 1M LIBOR + 0.340%, 06/25/35 (144A) (b)		1,650,543		1,586,555
Credit Suisse First Boston Mortgage Securities Corp. 2.195%, 03/25/32 (144A) (b)		54,276		51,130
6.000%, 11/25/35		1,803,967		1,528,228
Deutsche Alt-A Securities Mortgage Loan Trust 2.062%, 1M LIBOR + 0.190%, 08/25/47 (b)		4,676,439		4,429,468
Downey Savings & Loan Association Mortgage Loan Trust 3.447%, 07/19/44 (b)		471,951		475,927
First Horizon Alternative Mortgage Securities Trust 2.829%, 1M LIBOR + 4.700%, 01/25/36 (b) (c)		25,169,439		2,162,928
First Horizon Mortgage Pass-Through Trust 3.261%, 08/25/35 (b)		186,443		158,300
GreenPoint Mortgage Funding Trust 2.047%, 1M LIBOR + 0.175%, 12/25/46 (b)		3,622,235		3,577,114
GreenPoint MTA Trust 2.312%, 1M LIBOR + 0.440%, 06/25/45 (b)		56,727		54,066
GSR Mortgage Loan Trust 3.524%, 04/25/36 (b)		2,001,632		1,798,676
3.614%, 09/25/35 (b)		35,167		35,871
3.658%, 01/25/36 (b)		4,919,218		4,869,254
6.000%, 03/25/32		98		100
HarborView Mortgage Loan Trust 1.998%, 1M LIBOR + 0.190%, 01/19/38 (b)		135,473		132,758
2.248%, 1M LIBOR + 0.440%, 05/19/35 (b)		895,003		859,638
Holmes Master Issuer plc 2.146%, 3M LIBOR + 0.360%, 10/15/54 (144A) (b) (n)		11,400,000		11,393,570
Collateralized Mortgage Obligations—(Continued)
IndyMac ARM Trust 2.779%, 01/25/32 (b)		20,261		19,827
2.784%, 01/25/32 (b)		483		477
IndyMac INDX Mortgage Loan Trust 1.992%, 1M LIBOR + 0.120%, 07/25/36 (b)		5,238,191		4,908,863
2.082%, 1M LIBOR + 0.210%, 05/25/46 (b)		6,609,733		6,304,916
JP Morgan Alternative Loan Trust 2.052%, 1M LIBOR + 0.180%, 05/25/36 (b) (m)		2,237,198		2,119,543
JPMorgan Mortgage Trust 3.536%, 07/25/35 (b)		2,120,499		2,126,966
5.750%, 01/25/36		314,523		268,236
Lehman Mortgage Trust 2.472%, 1M LIBOR + 0.600%, 08/25/36 (b)		7,146,675		5,589,493
MASTR Alternative Loan Trust 2.272%, 1M LIBOR + 0.400%, 03/25/36 (b)		657,069		120,258
6.500%, 02/25/35		7,022,038		8,093,254
MASTR Asset Securitization Trust 6.000%, 06/25/36		478,067		466,631
Merrill Lynch Alternative Note Asset Trust 2.052%, 1M LIBOR + 0.180%, 04/25/37 (b)		1,572,578		1,574,627
Merrill Lynch Mortgage Investors Trust 2.122%, 1M LIBOR + 0.250%, 11/25/35 (b)		23,328		22,534
2.252%, 1M LIBOR + 0.380%, 08/25/35 (b)		3,343,170		3,310,236
2.664%, 1M LIBOR + 1.000%, 10/25/35 (b)		81,121		77,391
Morgan Stanley Re-REMIC Trust 2.768%, 03/26/37 (144A)		3,227,717		2,737,477
MortgageIT Mortgage Loan Trust 2.102%, 1M LIBOR + 0.230%, 04/25/36 (b)		6,096,251		5,754,502
Nomura Asset Acceptance Corp. Alternative Loan Trust 4.976%, 05/25/35 (o)		1,135,549		894,687
NovaStar Mortgage Funding Trust 2.077%, 3M LIBOR + 0.205%, 09/25/46 (b)		9,272,152		4,831,299
OBX Trust 2.527%, 1M LIBOR + 0.650%, 06/25/57 (144A) (b) (n)		6,470,000		6,474,141
RALI Series Trust 6.250%, 01/25/37		3,848,632		3,559,438
RBSSP Resecuritization Trust 1.861%, 1M LIBOR + 0.240%, 06/27/36 (144A) (b)		8,300,000		7,073,028
3.888%, 1M LIBOR + 0.150%, 01/26/36 (144A) (b)		4,785,865		4,841,381
Residential Accredit Loans, Inc. Trust 2.052%, 1M LIBOR + 0.180%, 06/25/46 (b)		1,485,277		646,886
6.000%, 12/25/35		7,661,942		7,463,198
Residential Asset Securitization Trust 6.000%, 06/25/36		3,757,599		2,717,238
RFMSI Trust 2.222%, 1M LIBOR + 0.350%, 06/25/18 (b)		5		5
Sequoia Mortgage Trust 2.172%, 1M LIBOR + 0.350%, 07/20/33 (b)		181,251		174,431
2.448%, 1M LIBOR + 0.640%, 04/19/27 (b)		750,477		709,628
Structured Adjustable Rate Mortgage Loan Trust 3.375%, 01/25/35 (b)		1,052,494		1,030,774
3.602%, 04/25/35 (b)		5,425,552		5,288,288
3.627%, 08/25/35 (b)		126,380		126,781

BHFTI-319

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
Structured Asset Mortgage Investments II Trust 2.058%, 1M LIBOR + 0.250%, 07/19/35 (b)		672,270	$	652,128
2.332%, 1M LIBOR + 0.460%, 05/25/45 (b)		880,583		819,150
WaMu Mortgage Pass-Through Certificates Trust 2.372%, 1M LIBOR + 0.500%, 02/25/45 (b)		8,885,543		8,699,043
2.683%, 12M MTA + 1.400%, 06/25/42 (b)		110,538		106,094
2.683%, 12M MTA + 1.400%, 08/25/42 (b)		56,228		54,343
Wells Fargo Mortgage-Backed Securities Trust 3.446%, 09/25/33 (b)		336,928		344,428
3.603%, 04/25/36 (b)		653,173		661,400
3.603%, 07/25/36 (b)		4,902,183		4,772,473
3.631%, 10/25/36 (b)		1,334,126		1,302,240
3.755%, 03/25/36 (b)		7,047,745		7,016,977
5.750%, 03/25/36		2,304,464		2,264,270
				268,064,143
Commercial Mortgage-Backed Securities—0.8%
CSAIL Commercial Mortgage Trust 3.314%, 11/15/49		2,900,000		2,892,259
GS Mortgage Securities Corp. Trust 2.856%, 05/10/34 (144A)		8,900,000		8,786,444
GS Mortgage Securities Trust 3.278%, 11/10/49 (b)		2,500,000		2,485,272
3.602%, 10/10/49 (144A) (b)		13,346,000		13,218,594
JPMorgan Chase Commercial Mortgage Securities Corp. 3.227%, 1M LIBOR + 1.450%, 01/15/33 (144A) (b)		3,386,100		3,388,269
Morgan Stanley Bank of America Merrill Lynch Trust 2.952%, 11/15/49		10,000,000		9,820,182
Resource Capital Corp., Ltd. 2.586%, 1M LIBOR + 0.800%, 07/15/34 (144A) (b)		5,689,908		5,691,632
				46,282,652
Total Mortgage-Backed Securities (Cost $306,546,923)				314,346,795
Municipals—0.5%
Chicago Transit Authority Transfer Tax Receipts Revenue 6.300%, 12/01/21		225,000		239,828
City of Chicago, IL General Obligation Unlimited 7.750%, 01/01/42		11,400,000		12,412,890
New Jersey Economic Development Authority, Revenue Bond Zero Coupon, 02/15/22		6,140,000		5,375,017
State of Illinois General Obligation Unlimited, Build America Bond 6.725%, 04/01/35		5,720,000		5,994,789
Tobacco Settlement Finance Authority 7.467%, 06/01/47		6,940,000		6,872,335
Total Municipals (Cost $29,489,299)				30,894,859
Floating Rate Loan (p)—0.1%
Security Description	Principal Amount*		Value
Media—0.1%
CSC Holdings LLC Term Loan B, 4.277%, 1M LIBOR + 2.500%, 01/25/26 (Cost $5,373,474)		5,400,000		5,407,592
Short-Term Investments—20.1%
Certificate of Deposit—1.7%
Barclays Bank plc 1.940%, 09/04/18		79,500,000		79,319,385
Credit Suisse AG New York 2.507%, 09/28/18		17,700,000		17,700,000
				97,019,385
Commercial Paper—0.8%
Ford Motor Credit Co. 2.000%, 09/04/18		22,700,000		22,447,550
ING U.S. Funding LLC 2.051%, 1M LIBOR + 0.190%, 07/23/18 (b)		24,000,000		23,994,336
				46,441,886
Foreign Government—15.0%
Argentina Treasury Bills 2.720%, 07/27/18 (q)		4,000,000		3,959,776
2.746%, 05/11/18 (q)		13,200,000		13,157,641
2.966%, 01/11/19 (q)		7,900,000		7,716,246
2.973%, 11/16/18 (q)		9,100,000		8,920,075
3.276%, 04/13/18 (q)		4,200,000		4,196,648
Japan Treasury Bills Zero Coupon, 05/01/18 (JPY) (q)		5,490,000,000		51,601,821
Zero Coupon, 05/07/18 (JPY) (q)		36,850,000,000		346,370,952
Zero Coupon, 05/14/18 (JPY) (q)		11,460,000,000		107,721,415
Zero Coupon, 05/21/18 (JPY) (q)		11,490,000,000		108,006,648
Zero Coupon, 06/04/18 (JPY) (q)		24,590,000,000		231,161,715
				882,812,937
Repurchase Agreements—2.5%
Deutsche Bank Securities, Inc. Repurchase Agreement dated 03/29/18 at 1.900%, due on 04/02/18 with a maturity value of $55,811,780; collateralized by a U.S. Treasury Note at 3.000%, maturing 11/15/45, with a market value of $57,175,815.		55,800,000		55,800,000
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $5,046,134; collateralized by a U.S. Treasury Note at 1.625%, maturing 08/31/22, with a market value of $5,149,225.		5,045,798		5,045,798

BHFTI-320

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Short-Term Investments—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
JPMorgan Securities LLC Repurchase Agreement dated 03/29/18 at 1.840%, due on 04/03/18 with a maturity value of $54,902,806; collateralized by a U.S. Treasury Note at 2.125%, maturing 05/15/25, with a market value of $55,565,551.		54,900,000	$	54,900,000
Repurchase Agreement dated 03/29/18 at 2.000%, due on 04/02/18 with a maturity value of $33,307,400; collateralized by a U.S. Treasury Note at 2.125%, maturing 05/15/25, with a market value of $33,767,869.		33,300,000		33,300,000
				149,045,798
U.S. Treasury—0.1%
U.S. Treasury Bills 1.420%, 04/26/18 (h) (p)		1,813,000		1,811,072
1.504%, 04/19/18 (h) (j) (p)		4,067,000		4,063,863
				5,874,935
Total Short-Term Investments (Cost $1,168,325,363)				1,181,194,941
Total Purchased Options—0.0% (r) (Cost $3,717,621)				1,253,187
Total Investments—154.0% (Cost $8,970,911,073)				9,054,568,456
Other assets and liabilities (net)—(54.0)%				(3,174,430,323	)
Net Assets—100.0%			$	5,880,138,133

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Interest only security.
(d)	All or a portion of this security has been transferred in a secured-borrowing transaction.
(e)	All or a portion of the security was pledged as collateral against open reverse repurchase agreements. As of March 31, 2018, the value of securities pledged amounted to $211,349,555.
(f)	Principal amount of security is adjusted for inflation.
(g)	All or a portion of the security was pledged as collateral against open centrally cleared swap contracts. As of March 31, 2018, the market value of securities pledged was $52,052,931.
(h)	All or a portion of the security was pledged as collateral against open swap contracts and open forward foreign currency exchange contracts. As of March 31, 2018, the market value of securities pledged was $59,703,783.
(i)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $20,997,227.
(j)	All or a portion of the security was pledged as collateral against open secured borrowing transactions. As of March 31, 2018, the value of securities pledged amounted to $4,776,063.
(k)	All or a portion of the security was pledged as collateral against TBA securities. As of March 31, 2018, the value of securities pledged amounted to $241,238.
(l)	Non-income producing; security is in default and/or issuer is in bankruptcy.
(m)	Illiquid security. As of March 31, 2018, these securities represent 0.1% of net assets.
(n)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $63,854,462, which is 1.1% of net assets. See details shown in the Restricted Securities table that follows.
(o)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(p)	Floating rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are determined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(q)	The rate shown represents current yield to maturity.
(r)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $1,023,870,316, which is 17.4% of net assets.

Restricted Securities	Acquisition Date		Principal Amount		Cost		Value
Ambac Assurance Corp., 5.100%, 06/07/20		04/24/14	$	144	$	255	$	190
Blackstone CQP Holdco L.P., 6.500%, 03/20/21		03/06/17		20,700,000		20,700,000		20,803,500
Blackstone CQP Holdco L.P., 6.000%, 08/18/21		08/09/17		10,700,000		10,700,000		10,726,750
Holmes Master Issuer plc, 2.146%, 10/15/54		03/09/18		11,400,000		11,400,000		11,393,570
OBX Trust, 2.527%, 06/25/57		03/26/18		6,470,000		6,470,000		6,474,141
Piper Jaffray Cos., 5.060%, 10/09/18		10/08/15		5,000,000		5,000,000		5,041,853
SpringCastle America Funding LLC, 3.050%, 04/25/29		09/16/16		9,427,892		9,427,531		9,414,458
							$	63,854,462

BHFTI-321

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Reverse Repurchase Agreements

Counterparty	Interest Rate		Settlement Date		Maturity Date		Principal Amount			Net Closing Amount
Barclays Bank plc		(0.500)%		03/02/18		03/01/20		USD	1,854,000	$	1,854,000
Barclays Bank plc		1.000%		03/23/18		03/22/20		USD	1,855,000		1,855,000
Barclays Bank plc		(0.250)%		01/19/18		01/15/28		USD	4,676,000		4,676,000
JPMorgan Chase Bank N.A.		1.720%		03/06/18		05/14/18		USD	196,570,500		196,570,500
Total										$	204,955,500

Securities pledged as collateral against open reverse repurchase agreements are noted in the Schedule of Investments.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	272,003,199	BNP		04/03/18		USD	83,500,598	$	(1,111,588	)
BRL	96,396,801	CSI		04/03/18		USD	29,447,625		(249,303	)
BRL	14,001,000	DBAG		04/03/18		USD	4,308,000		(67,136	)
BRL	31,511,376	DBAG		04/03/18		USD	9,672,000		(127,292	)
BRL	191,800,000	GSBU		04/03/18		USD	58,289,014		(193,329	)
BRL	67,300,000	JPMC		04/03/18		USD	20,372,332		12,650
BRL	455,600,000	JPMC		04/03/18		USD	137,072,026		927,944
BRL	67,300,000	UBSA		04/03/18		USD	20,247,909		137,073
BRL	191,800,000	JPMC		05/03/18		USD	58,065,786		(110,536	)
BRL	67,300,000	UBSA		05/03/18		USD	20,294,313		41,393
CAD	66,274,250	JPMC		04/04/18		USD	51,487,143		(43,905	)
CAD	26,020,000	GSBU		05/03/18		USD	20,193,805		14,824
CAD	41,228,000	JPMC		05/03/18		USD	31,962,938		57,099
DKK	7,960,000	GSBU		04/03/18		USD	1,287,840		25,995
DKK	6,923,282	CBNA		07/02/18		USD	1,153,515		(3,064	)
EUR	2,283,000	BNP		05/15/18		USD	2,824,144		(6,814	)
EUR	966,000	DBAG		05/15/18		USD	1,194,047		(1,957	)
EUR	24,575,000	GSBU		05/15/18		USD	30,836,577		(509,872	)
EUR	829,000	JPMC		05/15/18		USD	1,018,979		4,046
EUR	1,091,000	JPMC		05/15/18		USD	1,352,630		(6,285	)
GBP	2,717,000	BBP		05/15/18		USD	3,786,132		32,264
GBP	7,037,000	CBNA		05/15/18		USD	9,782,936		106,669
GBP	48,450,000	CBNA		05/15/18		USD	67,180,470		909,815
GBP	764,000	JPMC		05/15/18		USD	1,063,386		10,319
GBP	1,158,000	JPMC		05/15/18		USD	1,610,183		17,238
GBP	1,271,000	JPMC		05/15/18		USD	1,794,955		(8,727	)
GBP	8,661,000	JPMC		05/15/18		USD	12,225,531		(53,602	)
INR	15,053,051	UBSA		06/20/18		USD	230,990		(2,295	)
JPY	3,041,500,000	CBNA		05/15/18		USD	29,030,060		(375,062	)
JPY	5,022,600,000	CSI		05/15/18		USD	47,631,918		(312,309	)
JPY	12,647,600,000	CSI		05/15/18		USD	120,076,750		(919,443	)
JPY	2,888,100,000	JPMC		05/15/18		USD	27,202,202		7,562
JPY	3,584,200,000	UBSA		05/15/18		USD	33,839,992		(72,035	)
KRW	26,951,607,600	CSI		04/02/18		USD	25,271,081		14,225
KRW	14,794,932,600	GSBU		04/02/18		USD	13,818,000		62,226
KRW	12,156,675,000	UBSA		04/02/18		USD	11,225,000		180,080
KRW	5,338,536,660	CBNA		06/20/18		USD	5,022,000		174
KRW	4,339,200	CSI		06/20/18		USD	4,000		82
KRW	11,222,880,900	CSI		06/20/18		USD	10,337,000		220,812
KRW	26,951,607,600	CSI		06/20/18		USD	25,207,736		146,716
KRW	4,732,352,200	DBAG		06/20/18		USD	4,358,000		93,912
KRW	6,909,473,200	GSBU		06/20/18		USD	6,511,000		(10,983	)
KRW	130,429,307,415	GSBU		06/20/18		USD	120,991,936		1,708,114

BHFTI-322

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
MXN	108,519,000	BBP		05/10/18		USD	5,743,782	$	191,455
MYR	1,437,265	GSBU		06/20/18		USD	365,809		4,904
NOK	20,845,000	DBAG		05/15/18		USD	2,635,547		26,964
NOK	98,905,000	DBAG		05/15/18		USD	12,725,071		(92,032	)
NOK	69,345,000	JPMC		05/15/18		USD	8,912,234		(54,865	)
RUB	574,890,348	GSBU		04/09/18		USD	10,171,000		(142,947	)
RUB	647,075,520	GSBU		04/16/18		USD	11,232,000		46,509
RUB	236,098,125	UBSA		04/16/18		USD	4,115,000		184
RUB	2,398,125,280	BNP		04/18/18		USD	40,270,109		1,520,061
RUB	330,872,654	CBNA		04/27/18		USD	5,726,422		33,789
RUB	879,070,500	CBNA		05/25/18		USD	15,115,992		139,590
RUB	3,739,678,740	CSI		06/07/18		USD	65,297,947		(493,175	)
RUB	666,989,013	DBAG		06/07/18		USD	11,541,000		17,231
RUB	153,596,077	GSBU		06/07/18		USD	2,680,560		(18,898	)
RUB	343,207,686	GSBU		06/07/18		USD	6,016,000		(68,565	)
RUB	1,120,603,689	GSBU		06/07/18		USD	19,451,548		(32,643	)
RUB	380,936,439	JPMC		06/07/18		USD	6,675,000		(73,765	)
RUB	574,890,348	GSBU		07/10/18		USD	9,879,539		49,089
SEK	61,745,000	CBNA		05/15/18		USD	7,540,779		(124,183	)
SEK	146,370,000	DBAG		05/15/18		USD	17,851,820		(270,361	)
SEK	235,735,000	DBAG		05/15/18		USD	28,869,606		(553,932	)
SEK	62,845,000	JPMC		05/15/18		USD	7,573,131		(24,406	)
SEK	66,985,000	JPMC		05/15/18		USD	8,114,746		(68,740	)
SEK	70,770,000	JPMC		05/15/18		USD	8,964,641		(463,993	)
SEK	132,210,000	JPMC		05/15/18		USD	16,095,582		(214,973	)
SEK	207,895,000	JPMC		05/15/18		USD	24,966,435		5,194
TWD	384,407,073	CSI		04/02/18		USD	13,211,000		(26,959	)
TWD	384,407,073	DBAG		04/02/18		USD	13,182,684		1,356
TWD	19,315,220	BNP		06/20/18		USD	668,000		(1,869	)
TWD	268,961,025	BNP		06/20/18		USD	9,305,000		(29,247	)
TWD	177,496,907	CBNA		06/20/18		USD	6,139,000		(17,602	)
TWD	384,407,073	DBAG		06/20/18		USD	13,328,493		(71,311	)
TWD	766,364,963	DBAG		06/20/18		USD	26,451,918		(22,020	)
TWD	85,235,524	GSBU		06/20/18		USD	2,948,000		(8,453	)
TWD	142,947,350	JPMC		06/20/18		USD	4,942,000		(12,124	)
ZAR	2,906,000	JPMC		05/08/18		USD	238,185		6,106
Contracts to Deliver
AUD	759,000	GSBU		04/04/18		USD	590,097		7,147
AUD	4,120,000	JPMC		04/04/18		USD	3,186,168		21,803
AUD	1,051,000	JPMC		05/03/18		USD	807,502		272
BRL	234,703,199	BNP		04/03/18		USD	70,612,913		(478,032	)
BRL	27,300,000	BNP		04/03/18		USD	8,514,753		245,659
BRL	10,000,000	BNP		04/03/18		USD	2,648,670		(380,302	)
BRL	96,396,801	CSI		04/03/18		USD	29,001,986		(196,336	)
BRL	45,512,376	DBAG		04/03/18		USD	13,692,874		(92,697	)
BRL	146,287,624	GSBU		04/03/18		USD	44,012,162		(297,951	)
BRL	31,511,376	GSBU		04/03/18		USD	9,672,000		127,292
BRL	14,001,000	GSBU		04/03/18		USD	4,308,000		67,136
BRL	191,800,000	JPMC		04/03/18		USD	58,235,919		140,234
BRL	185,500,000	JPMC		04/03/18		USD	58,466,630		2,279,197
BRL	145,600,000	JPMC		04/03/18		USD	43,179,122		(922,712	)
BRL	67,300,000	UBSA		04/03/18		USD	20,350,771		(34,211	)
BRL	272,003,199	BNP		05/03/18		USD	83,261,613		1,071,763
BRL	51,000,000	JPMC		07/03/18		USD	14,879,650		(445,790	)
BRL	12,600,000	JPMC		07/03/18		USD	3,680,444		(105,841	)

BHFTI-323

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
BRL	205,400,000	BNP		10/02/18		USD	61,054,634	$	(175,526	)
BRL	197,900,000	GSBU		10/02/18		USD	59,083,445		89,050
BRL	163,400,000	JPMC		10/02/18		USD	48,939,739		229,865
BRL	106,300,000	JPMC		10/02/18		USD	31,472,983		(215,265	)
CAD	66,274,250	GSBU		04/04/18		USD	52,313,048		869,810
CAD	66,274,250	JPMC		05/03/18		USD	51,515,157		42,762
DKK	404,303,000	BNP		04/03/18		USD	59,566,697		(7,165,386	)
DKK	61,885,000	BNP		04/03/18		USD	9,349,789		(864,617	)
DKK	12,813,000	BNP		04/03/18		USD	1,885,429		(229,416	)
DKK	151,444,700	CBNA		04/03/18		USD	22,054,538		(2,942,111	)
DKK	83,328,000	CBNA		04/03/18		USD	12,315,611		(1,438,062	)
DKK	6,923,282	CBNA		04/03/18		USD	1,145,480		2,760
DKK	129,613,718	DBAG		04/03/18		USD	20,703,218		(690,127	)
DKK	104,555,000	GSBU		04/03/18		USD	15,550,520		(1,706,767	)
DKK	101,000,000	GSBU		04/03/18		USD	14,802,222		(1,868,296	)
DKK	63,597,740	GSBU		04/03/18		USD	9,740,063		(757,039	)
DKK	46,742,000	GSBU		04/03/18		USD	6,817,678		(897,306	)
DKK	27,067,560	GSBU		04/03/18		USD	3,921,982		(545,644	)
DKK	788,810,000	JPMC		04/03/18		USD	115,458,138		(14,738,607	)
DKK	167,920,000	JPMC		04/03/18		USD	24,550,546		(3,165,428	)
DKK	67,230,000	JPMC		04/03/18		USD	9,903,786		(1,192,837	)
DKK	34,430,000	SG		04/03/18		USD	5,033,639		(649,192	)
DKK	218,520,000	UBSA		04/03/18		USD	34,849,857		(1,217,881	)
DKK	411,474,000	UBSA		04/03/18		USD	60,385,201		(7,530,489	)
DKK	45,651,273	DBAG		07/02/18		USD	7,340,722		(245,210	)
DKK	87,255,000	GSBU		07/02/18		USD	14,191,908		(307,370	)
DKK	182,810,000	BNP		10/01/18		USD	29,490,854		(1,115,310	)
DKK	53,429,000	SG		10/01/18		USD	8,794,463		(150,654	)
EUR	1,945,000	BBP		05/15/18		USD	2,412,441		12,219
EUR	60,575,000	GSBU		05/15/18		USD	74,796,798		44,400
EUR	14,469,000	JPMC		05/15/18		USD	18,172,448		317,021
EUR	10,833,000	JPMC		05/15/18		USD	13,524,763		156,332
EUR	2,335,000	JPMC		05/15/18		USD	2,884,457		2,957
EUR	23,900,000	GSBU		06/29/18		USD	30,070,380		473,460
GBP	17,126,000	CBNA		05/15/18		USD	24,185,000		116,595
GBP	9,162,000	CBNA		05/15/18		USD	12,637,563		(238,458	)
GBP	36,625,000	GSBU		05/15/18		USD	51,003,781		(467,977	)
GBP	39,807,000	JPMC		05/15/18		USD	55,397,511		(546,142	)
GBP	4,494,000	JPMC		05/15/18		USD	6,218,158		(97,585	)
JPY	1,280,000,000	CBNA		05/01/18		USD	11,765,841		(282,506	)
JPY	1,150,000,000	CBNA		05/01/18		USD	10,570,970		(253,717	)
JPY	1,150,000,000	CBNA		05/01/18		USD	10,569,853		(254,835	)
JPY	800,000,000	CBNA		05/01/18		USD	7,380,074		(150,144	)
JPY	1,110,000,000	UBSA		05/01/18		USD	10,196,583		(251,594	)
JPY	36,847,500,000	CBNA		05/07/18		USD	338,903,937		(8,044,639	)
JPY	2,500,000	JPMC		05/07/18		USD	22,929		(611	)
JPY	11,460,000,000	CBNA		05/14/18		USD	105,427,783		(2,532,803	)
JPY	1,237,100,000	BNP		05/15/18		USD	11,706,589		51,453
JPY	3,734,200,000	CSI		05/15/18		USD	35,021,773		(159,386	)
JPY	3,090,400,000	DBAG		05/15/18		USD	29,499,443		383,742
JPY	3,670,000,000	GSBU		05/15/18		USD	34,565,999		(10,309	)
JPY	931,000,000	GSBU		05/15/18		USD	8,619,939		(151,326	)
JPY	2,565,700,000	JPMC		05/15/18		USD	24,411,382		239,057
JPY	1,107,300,000	JPMC		05/15/18		USD	10,451,900		19,653
JPY	3,200,000,000	CBNA		05/21/18		USD	30,173,450		11,859
JPY	8,290,000,000	UBSA		05/21/18		USD	77,317,016		(820,355	)
JPY	5,490,000,000	BNP		06/04/18		USD	51,795,385		(3,958	)

BHFTI-324

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts—(Continued)

Contracts to Deliver		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
JPY	4,000,000,000	CBNA		06/04/18		USD	37,718,057	$	(22,812	)
JPY	4,910,000,000	JPMC		06/04/18		USD	46,346,989		20,072
JPY	5,240,000,000	UBSA		06/04/18		USD	49,415,315		(25,224	)
JPY	4,950,000,000	UBSA		06/04/18		USD	46,645,527		(58,799	)
KRW	26,951,607,600	CSI		04/02/18		USD	25,164,900		(120,406	)
KRW	14,794,932,600	GSBU		04/02/18		USD	13,872,417		(7,809	)
KRW	12,156,675,000	UBSA		04/02/18		USD	11,398,664		(6,416	)
KRW	185,756,239,905	UBSA		06/20/18		USD	175,490,071		741,769
MXN	139,057,000	CBNA		05/10/18		USD	7,391,783		(213,672	)
NOK	24,090,000	BBP		05/15/18		USD	3,132,463		55,471
NOK	122,200,000	JPMC		05/15/18		USD	15,809,994		201,508
NOK	43,560,000	JPMC		05/15/18		USD	5,679,094		115,218
NZD	1,885,000	JPMC		04/04/18		USD	1,359,928		(2,362	)
RUB	157,373,870	JPMC		04/10/18		USD	2,745,000		187
RUB	216,253,142	CSI		04/16/18		USD	3,795,000		25,714
RUB	574,788,000	UBSA		04/16/18		USD	10,084,000		65,461
RUB	330,872,654	CBNA		04/18/18		USD	5,732,374		(33,473	)
RUB	1,142,147,147	JPMC		04/18/18		USD	19,985,000		81,735
RUB	870,120,087	JPMC		04/18/18		USD	15,183,000		20,128
RUB	54,985,392	JPMC		04/18/18		USD	957,000		(1,186	)
RUB	767,126,560	GSBU		04/23/18		USD	13,456,000		95,175
RUB	1,606,265,420	GSBU		04/26/18		USD	28,013,000		46,250
RUB	279,708,660	CBNA		04/27/18		USD	4,851,000		(18,489	)
RUB	1,220,753,660	CSI		04/27/18		USD	21,113,000		(139,281	)
RUB	672,541,762	CSI		04/27/18		USD	11,634,000		(74,379	)
RUB	845,060,378	UBSA		04/27/18		USD	14,715,000		3,219
RUB	1,433,810,576	JPMC		05/25/18		USD	24,940,000		57,337
RUB	547,731,234	JPMC		06/07/18		USD	9,498,000		6,383
RUB	424,473,285	JPMC		06/07/18		USD	7,383,000		27,316
RUB	299,894,369	JPMC		06/07/18		USD	5,207,000		10,140
SEK	136,810,000	BBP		05/15/18		USD	16,791,167		358,023
SEK	91,955,000	DBAG		05/15/18		USD	11,268,626		223,309
SEK	83,920,000	JPMC		05/15/18		USD	10,295,818		215,637
SEK	32,835,000	JPMC		05/15/18		USD	4,019,101		75,075
SGD	356,587	CSI		06/20/18		USD	269,937		(2,517	)
TRY	1,090,000	CBNA		05/22/18		USD	277,767		5,500
TWD	384,407,073	CSI		04/02/18		USD	13,182,684		(1,356	)
TWD	384,407,073	DBAG		04/02/18		USD	13,209,865		25,824
TWD	2,161,619,421	BNP		06/20/18		USD	74,788,756		240,229
Net Unrealized Depreciation								$	(58,315,696	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Call Options on Euro-OAT Futures, Strike EUR 170.000		05/25/18		2,541		EUR	25,410	$	(2,689	)
Euro-Bund Futures		06/07/18		2,418		EUR	385,501,740		8,303,973
Put Options on Euro-Bund Futures, Strike EUR 140.000		05/25/18		2,753		EUR	27,530		(2,913	)
Put Options on Euro-Bund Futures, Strike EUR 141.000		05/25/18		127		EUR	1,270		(134	)
U.S. Treasury Note 10 Year Futures		06/20/18		6,024		USD	729,751,125		5,795,307
U.S. Treasury Note 5 Year Futures		06/29/18		13,132		USD	1,503,101,038		6,309,116

BHFTI-325

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Short	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
90 Day Eurodollar Futures		06/17/19		(473	)		USD	(115,086,813	)	$	797,705
90 Day Eurodollar Futures		09/16/19		(599	)		USD	(145,669,313	)		988,377
90 Day Eurodollar Futures		12/16/19		(645	)		USD	(156,759,188	)		1,067,159
90 Day Eurodollar Futures		03/16/20		(71	)		USD	(17,253,888	)		114,676
90 Day Eurodollar Futures		06/15/20		(534	)		USD	(129,762,000	)		(104,376	)
90 Day Eurodollar Futures		09/14/20		(563	)		USD	(136,794,925	)		(117,368	)
Australian 10 Year Treasury Bond Futures		06/15/18		(709	)		AUD	(91,898,382	)		(929,402	)
Canada Government Bond 10 Year Futures		06/20/18		(920	)		CAD	(122,608,400	)		(1,751,864	)
Euro-BTP Futures		06/07/18		(788	)		EUR	(109,366,520	)		(3,918,498	)
Euro-Bobl Futures		06/07/18		(50	)		EUR	(6,562,500	)		(50,514	)
Euro-Buxl 30 Year Bond Futures		06/07/18		(376	)		EUR	(62,182,880	)		(157,699	)
Euro-OAT Futures		06/07/18		(3,165	)		EUR	(489,277,350	)		(9,999,752	)
Put Options on Euro-Bund Futures, Strike EUR 158.000		04/20/18		(394	)		EUR	(43,340	)		67,455
U.S. Treasury Long Bond Futures		06/20/18		(2,406	)		USD	(352,779,750	)		(9,771,920	)
United Kingdom Long Gilt Bond Futures		06/27/18		(131	)		GBP	(16,089,420	)		(443,510	)
Net Unrealized Depreciation										$	(3,806,871	)

Purchased Options

OTC Options on Securities	Counterparty		Strike Price		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
Put - Fannie Mae 30 Yr. TBA 3.500%		JPMC	$	69.000		05/07/18		200,000,000		USD	200,000,000	$	7,812	$	—	$	(7,812	)

Credit Default Swaptions	Counterparty	Strike Spread	Expiration Date	Buy/Sell Protection		Reference Obligation		Number of Contracts	Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - 5 Yr. CDS	JPMC	1.200%	04/18/18		Buy		CDX.NA.IG.29.V1	150,000,000		USD	150,000,000	$	22,500	$	2,908	$	(19,592	)
Put - 5 Yr. CDS	JPMC	1.300%	05/16/18		Buy		CDX.NA.IG.29.V1	30,000,000		USD	30,000,000		4,500		4,654		154
Totals												$	27,000	$	7,562	$	(19,438	)

Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/ Receive Floating Rate		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Put - 30 Yr. IRS	2.930%	GSBU	3M LIBOR		Receive		08/20/18		11,900,000		USD	11,900,000	$	1,263,066	$	330,903	$	(932,163	)
Put - 30 Yr. IRS	2.905%	MSC	3M LIBOR		Receive		08/20/18		10,200,000		USD	10,200,000		1,020,000		309,489		(710,511	)
Put - 30 Yr. IRS	2.940%	GSBU	3M LIBOR		Receive		08/20/18		10,400,000		USD	10,400,000		1,017,120		281,490		(735,630	)
Put - 30 Yr. IRS	2.943%	GSBU	3M LIBOR		Receive		12/12/19		4,800,000		USD	4,800,000		230,400		304,732		74,332
Totals													$	3,530,586	$	1,226,614	$	(2,303,972	)

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Depreciation
Call - Canada Government Bond 10-Year Futures	$	150.000		05/18/18		400		CAD	400,000	$	3,744	$	1,552	$	(2,192	)
Call - U.S. Treasury Bond Futures		180.000		05/25/18		193		USD	193,000		1,583		193		(1,390	)
Put - U.S. Treasury Note 10-Year Futures		108.500		05/25/18		7,448		USD	7,448,000		62,824		7,448		(55,376	)
Put - U.S. Treasury Note 10-Year Futures		108.000		05/25/18		48		USD	48,000		410		48		(362	)
Put - U.S. Treasury Note 5-Year Futures		105.500		05/25/18		4,994		USD	4,994,000		42,827		4,994		(37,833	)
Put - U.S. Treasury Note 5-Year Futures		106.000		05/25/18		2,569		USD	2,569,000		21,965		2,569		(19,396	)
Put - U.S. Treasury Note 5-Year Futures		105.250		05/25/18		1,734		USD	1,734,000		14,826		1,734		(13,092	)
Put - U.S. Treasury Note 5-Year Futures		105.000		05/25/18		473		USD	473,000		4,044		473		(3,571	)
Totals										$	152,223	$	19,011	$	(133,212	)

BHFTI-326

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Written Options

OTC Options on Securities	Counterparty		Strike Price		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - Fannie Mae 30 Yr. TBA 3.500%		JPMC	$	100.426		05/07/18		(21,000,000	)		USD	(21,000,000	)	$	(58,242	)	$	(63,626	)	$	(5,384	)
Call - Fannie Mae 30 Yr. TBA 3.500%		GSBU		100.234		05/07/18		(29,000,000	)		USD	(29,000,000	)		(95,156	)		(112,441	)		(17,285	)
Call - Fannie Mae 30 Yr. TBA 3.500%		GSBU		100.445		05/07/18		(55,000,000	)		USD	(55,000,000	)		(143,946	)		(162,305	)		(18,359	)
Put - Fannie Mae 30 Yr. TBA 3.500%		GSBU		99.34		4/5/2018		(47,000,000	)		USD	(47,000,000	)		(258,867	)		(3,172	)		255,695
Put - Fannie Mae 30 Yr. TBA 3.000%		CSI		95.97		4/5/2018		(94,000,000	)		USD	(94,000,000	)		(429,609	)		(1,156	)		428,453
Total														$	(985,820	)	$	(342,700	)	$	643,120

Foreign Currency Written Options	Strike Price			Counterparty	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
USD Call/BRL Put		BRL	3.330	JPMC		04/12/18		(14,950,000	)		USD	(14,950,000	)	$	(149,500	)	$	(74,600	)	$	74,900
USD Call/BRL Put		BRL	3.305	GSBU		04/25/18		(14,000,000	)		USD	(14,000,000	)		(132,090	)		(166,306	)		(34,216	)
USD Call/BRL Put		BRL	3.305	GSBU		04/25/18		(29,500,000	)		USD	(29,500,000	)		(280,545	)		(350,431	)		(69,886	)
Totals														$	(562,135	)	$	(591,337	)	$	(29,202	)

Inflation Capped Options	Initial Index	Counterparty		Exercise Index	Expiration Date	Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Floor - OTC CPURNSA Index	215.949		DBAG	Maximum of [(1 + 0.000%)10—(Final Index/Initial Index)] or 0	03/10/20		(5,800,000	)		USD	(5,800,000	)	$	(43,500	)	$	—		$	43,500
Floor - OTC CPURNSA Index	215.949		CBNA	Maximum of [(1 + 0.000%) 10-(Final Index/Initial Index)] or 0	03/12/20		(16,200,000	)		USD	(16,200,000	)		(137,080	)		—			137,080
Floor - OTC CPURNSA Index	216.687		CBNA	Maximum of [(1 + 0.000%)10-(Final Index/Initial Index)] or 0	04/07/20		(38,800,000	)		USD	(38,800,000	)		(346,040	)		—			346,040
Floor - OTC CPURNSA Index	217.965		CBNA	Maximum of [(1 + 0.000%)10-(Final Index/Initial Index)] or 0	09/29/20		(17,500,000	)		USD	(17,500,000	)		(225,750	)		(2	)		225,748
Floor - OTC CPURNSA Index	218.011		DBAG	Maximum of [(1 + 0.000%) 10-(Final Index/Initial Index)] or 0	10/13/20		(18,000,000	)		USD	(18,000,000	)		(176,400	)		—			176,400
Totals													$	(928,770	)	$	(2	)	$	928,768

Interest Rate Swaptions	Strike Rate	Counterparty	Floating Rate Index	Pay/Receive Floating Rate	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Put - 5 Yr. IRS	2.750%	GSBU	3M LIBOR	Pay		12/12/19		(21,300,000	)		USD	(21,300,000	)	$	(232,364	)	$	(398,338	)	$	(165,974)
Put - 5 Yr. IRS	2.800%	MSC	3M LIBOR	Pay		08/20/18		(45,000,000	)		USD	(45,000,000	)		(1,003,704	)		(303,340	)		700,364
Put - 5 Yr. IRS	2.800%	GSBU	3M LIBOR	Pay		08/20/18		(98,200,000	)		USD	(98,200,000	)		(2,287,027	)		(661,956	)		1,625,071
Totals														$	(3,523,095	)	$	(1,363,634	)	$	2,159,461

Credit Default Swaptions	Strike Spread		Counterparty		Reference Obligation		Buy/Sell Protection	Expiration Date		Notional Amount			Premiums Received		Market Value		Unrealized Appreciation/ (Depreciation)
Put - 5 Yr. CDS		0.850%		CBNA		CDX.NA.IG.29	Sell		04/18/18		USD	(28,100,000)	$	(28,100)	$	(3,181)	$	24,919
Put - 5 Yr. CDS		0.900%		CBNA		CDX.NA.IG.30	Sell		06/20/18		USD	(3,900,000)		(4,582)		(4,520)		62
Put - 5 Yr. CDS		0.800%		CSI		CDX.NA.IG.29	Sell		05/16/18		USD	(12,300,000)		(16,605)		(6,462)		10,143
Put - 5 Yr. CDS		0.800%		DBAG		CDX.NA.IG.29	Sell		04/18/18		USD	(58,500,000)		(70,200)		(9,136)		61,064
Put - 5 Yr. CDS		0.900%		BNP		CDX.NA.IG.30	Sell		06/20/18		USD	(14,000,000)		(21,088)		(16,226)		4,862
Put - 5 Yr. CDS		0.900%		JPMC		CDX.NA.IG.30	Sell		06/20/18		USD	(16,000,000)		(19,051)		(18,544)		507
Put - 5 Yr. CDS		0.950%		BBP		CDX.NA.IG.30	Sell		07/18/18		USD	(14,400,000)		(24,768)		(20,264)		4,504
Put - 5 Yr. CDS		0.800%		BNP		CDX.NA.IG.30	Sell		06/20/18		USD	(49,500,000)		(84,150)		(84,679)		(529)
Totals													$	(268,544)	$	(163,012)	$	105,532

BHFTI-327

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements

Options on Exchange-Traded Futures Contracts	Strike Price		Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation
Put - U.S. Treasury Note 10 Year Futures	$	120.000		04/20/18		(761	)		USD	(761,000	)	$	(165,555	)	$	(71,344	)	$	94,211
Put - U.S. Treasury Note 10 Year Futures		120.500		04/20/18		(303	)		USD	(303,000	)		(65,918	)		(61,547	)		4,371
Totals												$	(231,473	)	$	(132,891	)	$	98,582

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate			Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Pay	3M LIBOR		Quarterly		1.963	%	Semi-Annually		12/05/19		USD	410,000,000	$	(3,640,419	)	$	—		$	(3,640,419	)
Pay	6M EURIBOR		Semi-Annually		1.501	%	Annually		07/04/42		EUR	53,800,000		117,346			—			117,346
Receive	3M CDOR		Semi-Annually		1.750	%	Semi-Annually		12/16/46		CAD	4,500,000		628,064			570,938			57,126
Receive	3M LIBOR		Semi-Annually		1.250	%	Quarterly		06/21/20		USD	148,500,000		4,337,517			2,465,035			1,872,482
Receive	3M LIBOR		Semi-Annually		2.250	%	Quarterly		06/20/28		USD	159,400,000		7,611,141			9,015,763			(1,404,622	)
Receive	6M LIBOR		Semi-Annually		0.285	%	Semi-Annually		01/25/28		JPY	1,090,000,000		4,411			78,164			(73,753	)
Receive	6M LIBOR		Semi-Annually		0.300	%	Semi-Annually		03/18/26		JPY	28,050,000,000		(1,784,510	)		(1,849,950	)		65,440
Receive	6M LIBOR		Semi-Annually		0.300	%	Semi-Annually		03/18/26		JPY	31,660,000,000		(2,251,753	)		(2,378,204	)		126,451
Receive	6M LIBOR		Semi-Annually		0.300	%	Semi-Annually		09/20/27		JPY	6,210,000,000		(138,977	)		(221,307	)		82,330
Receive	6M LIBOR		Semi-Annually		0.300	%	Semi-Annually		03/20/28		JPY	3,500,000,000		(14,552	)		251,206			(265,758	)
Receive	6M LIBOR		Semi-Annually		0.301	%	Semi-Annually		02/13/28		JPY	480,000,000		(4,656	)		30,309			(34,965	)
Receive	6M LIBOR		Semi-Annually		0.351	%	Semi-Annually		02/08/28		JPY	260,000,000		(14,604	)		—			(14,604	)
Receive	6M LIBOR		Semi-Annually		0.354	%	Semi-Annually		01/18/28		JPY	170,000,000		(10,218	)		1,751			(11,969	)
Receive	6M LIBOR		Semi-Annually		0.354	%	Semi-Annually		02/16/28		JPY	530,000,000		(30,911	)		—			(30,911	)
Receive	6M LIBOR		Semi-Annually		0.380	%	Semi-Annually		06/18/28		JPY	290,000,000		(18,373	)		4,725			(23,098	)
Receive	6M LIBOR		Semi-Annually		0.399	%	Semi-Annually		06/18/28		JPY	2,220,000,000		(180,201	)		(1,920	)		(178,281	)
Receive	6M LIBOR		Semi-Annually		1.500	%	Semi-Annually		09/19/23		GBP	92,900,000		(506,618	)		(59,537	)		(447,081	)
Receive	6M LIBOR		Semi-Annually		1.500	%	Semi-Annually		06/20/28		GBP	9,100,000		22,339			295,587			(273,248	)
Receive	6M LIBOR		Semi-Annually		1.500	%	Semi-Annually		09/19/28		GBP	37,200,000		203,344			889,850			(686,506	)
Receive	6M LIBOR		Semi-Annually		1.500	%	Semi-Annually		06/20/48		GBP	34,900,000		131,018			1,509,205			(1,378,187	)
Receive	6M LIBOR		Semi-Annually		1.750	%	Semi-Annually		09/19/48		GBP	21,900,000		(1,811,995	)		(1,151,314	)		(660,681	)
Totals													$	2,647,393		$	9,450,301		$	(6,802,908	)

Centrally Cleared Credit Default Swaps on Credit Indices and Corporate Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date	Implied Credit Spread at March 31, 2018(b)	Notional Amount(c)			Market Value		Upfront Premiums Paid		Unrealized Appreciation/ (Depreciation)
Berkshire Hathaway, Inc. 1.550%, due 02/09/18		1.000%		Quarterly	12/20/21	0.411%		USD	10,500,000	$	219,587	$	248,233	$	(28,646)
CDX.NA.HY.29		5.000%		Quarterly	12/20/22	3.387%		USD	10,500,000		681,481		719,145		(37,664)
CDX.NA.HY.30		5.000%		Quarterly	06/20/23	3.609%		USD	12,100,000		729,969		726,545		3,424
CDX.NA.IG.29		1.000%		Quarterly	12/20/22	0.578%		USD	284,300,000		5,276,324		5,813,861		(537,537)
CDX.NA.IG.30		1.000%		Quarterly	06/20/23	0.656%		USD	388,200,000		6,407,241		6,850,178		(442,937)
Goldman Sach Group, Inc. 5.950%, due 1/18/18		1.000%		Quarterly	09/20/20	0.353%		USD	22,500,000		351,157		403,902		(52,745)
Tesco plc 6.000%, due 12/14/29		1.000%		Quarterly	06/20/22	0.990%		EUR	24,700,000		12,674		108,498		(95,824)
Totals										$	13,678,433	$	14,870,362	$	(1,191,929)

BHFTI-328

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

OTC Credit Default Swaps on Corporate Issues—Sell Protection (d)

Reference Obligation	Fixed Deal Receive Rate		Payment Frequency		Maturity Date	Counterparty	Implied Credit Spread at March 31, 2018(b)		Notional Amount(c)			Market Value		Upfront Premium Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
Avolon Holdings, Ltd. 4.500%, due 03/15/23		5.000%		Quarterly	07/01/20	UBSA		0.000%		USD	5,500,000	$	231,073	$	322,061	$	(90,988)
Petrobras International Finance Co. S.A. 8.375%, due 12/10/18		1.000%		Quarterly	12/20/19	BNP		0.754%		USD	3,200,000		13,343		(382,937)		396,280
Petrobras International Finance Co. S.A. 8.375%, due 12/10/18		1.000%		Quarterly	03/20/20	BNP		0.802%		USD	1,600,000		6,120		(308,005)		314,125
Totals												$	250,536	$	(368,881)	$	619,417

(a)	If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.
(b)	Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or indices as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
(c)	The maximum potential amount of future undiscounted payments that the Portfolio could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of purchased protection credit default swap contracts entered into by the Portfolio for the same referenced debt obligation.
(d)	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Glossary of Abbreviations

Counterparties

(BBP)—	Barclays Bank plc
(BNP)—	BNP Paribas S.A.
(CBNA)—	Citibank N.A
(CSI)—	Credit Suisse International
(DBAG)—	Deutsche Bank AG
(GSBU)—	Goldman Sachs Bank USA
(JPMC)—	JPMorgan Chase Bank N.A.
(MSC)—	Morgan Stanley Capital Services LLC
(SG)—	Societe Generale Paris
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(BRL)—	Brazilian Real
(CAD)—	Canadian Dollar
(DKK)—	Danish Krone
(EUR)—	Euro
(GBP)—	British Pound
(INR)—	Indian Rupee
(JPY)—	Japanese Yen
(KRW)—	South Korean Won
(MXN)—	Mexican Peso
(MYR)—	Malaysian Ringgit
(NOK)—	Norwegian Krone
(NZD)—	New Zealand Dollar
(RUB)—	Russian Ruble
(SEK)—	Swedish Krona
(SGD)—	Singapore Dollar
(TRY)—	Turkish Lira
(TWD)—	Taiwanese Dollar
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(CDOR)—	Canadian Dollar Offered Rate
(CDS)—	Credit Default Swap
(CDX.NA.HY)—	Markit North America High Yield CDS Index
(CDX.NA.IG)—	Markit North America Investment Grade CDS Index
(COFI)—	11th District Cost of Funds Index
(CPURNSA)—	U.S. Consumer Price for All Urban Consumers Non-SeasonallyAdjusted
(EURIBOR)—	Euro Interbank Offered Rate
(ICE)—	Intercontinental Exchange, Inc.
(IRS)—	Interest Rate Swap
(LIBOR)—	London Interbank Offered Rate
(MTA)—	Monthly Treasury Average Index
(PRIME)—	U.S. Federal Reserve Prime Rate

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-329

Brighthouse Funds Trust I

PIMCO Total Return Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1			Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—		$	3,903,430,424		$	—	$	3,903,430,424
Total Corporate Bonds & Notes*		—			2,225,275,035			—		2,225,275,035
Total Asset-Backed Securities*		—			1,001,733,120			—		1,001,733,120
Total Foreign Government*		—			391,032,503			—		391,032,503
Total Mortgage-Backed Securities*		—			314,346,795			—		314,346,795
Total Municipals		—			30,894,859			—		30,894,859
Total Floating Rate Loan*		—			5,407,592			—		5,407,592
Purchased Options
Put Options at Value		0			—			—		0
Credit Default Swaptions at Value		—			7,562			—		7,562
Interest Rate Swaptions at Value		—			1,226,614			—		1,226,614
Options on Exchange-Traded Futures Contracts at Value		19,011			—			—		19,011
Total Purchased Options	$	19,011		$	1,234,176		$	—	$	1,253,187
Total Short-Term Investments*		—			1,181,194,941			—		1,181,194,941
Total Investments	$	19,011		$	9,054,549,445		$	—	$	9,054,568,456
Total Reverse Repurchase Agreements (Liability)	$	—		$	(204,955,500	)	$	—	$	(204,955,500	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	16,513,842		$	—	$	16,513,842
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(74,829,538	)		—		(74,829,538	)
Total Forward Contracts	$	—		$	(58,315,696	)	$	—	$	(58,315,696	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	23,443,768		$	—		$	—	$	23,443,768
Futures Contracts (Unrealized Depreciation)		(27,250,639	)		—			—		(27,250,639	)
Total Futures Contracts	$	(3,806,871	)	$	—		$	—	$	(3,806,871	)
Written Options
Credit Default Swaptions at Value	$	—		$	(163,012	)	$	—	$	(163,012	)
Put Written Options at Value		—			(4,328	)		—		(4,328	)
Foreign Currency Written Options at Value		—			(591,337	)		—		(591,337	)
Inflation Capped Options at Value		—			(338,374	)		—		(338,374	)
Interest Rate Swaptions at Value		—			(1,363,634	)		—		(1,363,634	)
Options on Exchange-Traded Futures Contracts at Value		(132,891	)		—			—		(132,891	)
Total Written Options	$	(132,891	)	$	(2,460,685	)	$	—	$	(2,593,576	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—		$	2,324,599		$	—	$	2,324,599
Centrally Cleared Swap Contracts (Unrealized Depreciation)		—			(10,319,436	)		—		(10,319,436	)
Total Centrally Cleared Swap Contracts	$	—		$	(7,994,837	)	$	—	$	(7,994,837	)
OTC Swap Contracts
OTC Swap Contracts at Value (Assets)	$	—		$	250,536		$	—	$	250,536

* See Schedule of Investments for additional detailed categorizations.

BHFTI-330

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—93.8% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—66.3%
Fannie Mae 15 Yr. Pool 3.000%, 03/01/32		655,635	$	655,907
3.000%, 08/01/32		483,999		485,917
3.500%, 12/01/25		25,820		26,348
3.500%, 03/01/30		62,448		63,760
3.500%, 10/01/30		140,199		143,131
3.500%, 12/01/30		66,274		67,664
3.500%, 02/01/31		698,480		713,430
4.500%, 12/01/23		21,777		21,945
4.500%, 11/01/25		890,994		925,429
5.000%, 03/01/23		11,107		11,587
Fannie Mae 20 Yr. Pool 3.500%, 01/01/34		2,284,605		2,334,033
4.000%, 11/01/31		1,438,280		1,497,697
4.000%, 08/01/32		1,150,707		1,198,591
Fannie Mae 30 Yr. Pool 2.500%, 01/01/43		2,840,385		2,690,156
3.000%, 09/01/42		2,682,472		2,641,074
3.000%, 10/01/42		5,693,580		5,605,691
3.000%, 11/01/42		4,124,893		4,061,238
3.000%, 12/01/42		1,433,563		1,411,438
3.000%, 01/01/43		6,223,060		6,127,352
3.000%, 08/01/46		2,289,698		2,235,190
3.000%, 11/01/46		4,954,439		4,836,459
3.000%, 12/01/46		42,127		41,124
3.000%, 01/01/47		1,228,578		1,199,324
3.000%, 11/01/47		271,000		264,539
3.000%, 02/01/48		1,000,000		976,132
3.000%, 03/01/48		579,000		565,175
3.000%, TBA (a)		5,000,000		4,876,562
3.500%, 04/01/46		8,614,837		8,649,878
3.500%, 07/01/47		3,273,142		3,296,009
3.500%, 11/01/47		1,349,440		1,353,616
3.500%, 12/01/47		31,624,065		31,745,270
4.000%, 10/01/39		131,006		135,400
4.000%, 11/01/40		5,495,905		5,680,563
4.000%, 01/01/42		342,051		353,580
4.000%, 04/01/42		523,419		541,072
4.000%, 10/01/42		775,059		801,088
4.000%, 11/01/42		252,348		260,259
4.000%, 04/01/43		307,342		317,147
4.000%, 06/01/43		387,203		400,048
4.000%, 08/01/43		520,161		535,772
4.000%, 09/01/43		2,159,377		2,229,749
4.000%, 02/01/44		140,059		144,127
4.000%, 04/01/44		217,004		223,323
4.000%, 02/01/45		250,011		257,045
4.000%, 06/01/45		103,654		107,043
4.000%, 12/01/45		1,330,445		1,366,255
4.000%, 03/01/46		259,943		266,940
4.000%, 05/01/46		75,409		77,438
4.000%, 06/01/47		652,811		670,718
4.000%, 07/01/47		1,716,071		1,763,146
4.000%, 04/01/48		7,991,651		8,224,546
4.000%, TBA (a)		1,350,000		1,385,363
4.500%, 12/01/40		2,075,493		2,195,453
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae 30 Yr. Pool 4.500%, 07/01/41		317,235		335,600
4.500%, 08/01/41		193,883		205,111
4.500%, 11/01/41		4,534,926		4,794,069
4.500%, 09/01/42		1,319,004		1,395,214
4.500%, 12/01/43		322,982		339,191
4.500%, 10/01/44		2,077,186		2,195,637
4.500%, 02/01/45		767,976		809,491
5.000%, 04/01/41		27,453		29,348
5.000%, 06/01/41		45,124		48,597
5.000%, 08/01/41		118,603		128,275
5.500%, 12/01/39		741,419		811,222
5.500%, 04/01/40		934,461		1,018,811
5.500%, 06/01/40		99,124		108,265
5.500%, 03/01/41		390,070		428,291
5.500%, 05/01/41		331,027		361,775
5.500%, 06/01/41		509,997		556,919
5.500%, 07/01/41		638,556		697,314
5.500%, 12/01/41		1,061,628		1,162,612
5.500%, 02/01/42		2,506,953		2,737,483
5.500%, 05/01/44		621,771		678,985
6.000%, 01/01/34		94,405		106,144
6.000%, 08/01/34		154,318		173,682
6.000%, 10/01/34		159,534		181,717
6.000%, 11/01/34		124,551		139,884
6.000%, 01/01/35		161,223		181,141
6.000%, 04/01/35		235,490		264,938
6.000%, 06/01/36		377,280		424,156
6.000%, 05/01/37		537,397		604,108
6.000%, 09/01/37		30,211		33,941
6.000%, 10/01/37		435,713		498,753
6.000%, 01/01/38		424,628		486,716
6.000%, 03/01/38		143,844		163,626
6.000%, 07/01/38		82,498		94,255
6.000%, 01/01/40		404,724		464,662
6.000%, 05/01/40		569,417		653,344
6.000%, 07/01/41		539,887		609,207
6.000%, 01/01/42		49,641		55,920
6.500%, 07/01/32		106,757		119,757
6.500%, 12/01/32		31,640		35,603
6.500%, 07/01/35		36,960		41,508
6.500%, 12/01/35		334,413		376,371
6.500%, 08/01/36		551,504		618,436
Fannie Mae ARM Pool 2.586%, 12M LIBOR + 1.725%, 06/01/42 (b)		94,994		97,184
2.677%, 12M LIBOR + 1.818%, 02/01/42 (b)		460,427		476,070
3.001%, 12M LIBOR + 1.818%, 09/01/41 (b)		53,267		55,419
3.259%, 12M LIBOR + 1.818%, 07/01/41 (b)		68,671		71,717
3.332%, 12M LIBOR + 1.830%, 10/01/41 (b)		45,213		47,179
3.569%, 12M LIBOR + 1.800%, 07/01/41 (b)		89,636		93,721
Fannie Mae Grantor Trust 2.898%, 06/25/27		12,395,114		11,998,878
Fannie Mae Pool 3.000%, 08/01/27		147,210		147,773
3.000%, 10/01/27		254,858		255,834
3.000%, 11/01/27		91,406		91,757

BHFTI-331

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Fannie Mae Pool 3.000%, 12/01/27		124,212	$	124,687
3.000%, 01/01/28		117,119		117,568
3.000%, 02/01/28		111,021		111,447
3.000%, 03/01/28		120,632		121,094
3.000%, 04/01/28		110,196		110,618
3.000%, 05/01/28		123,961		124,436
3.000%, 06/01/28		123,606		124,076
3.000%, 07/01/28		111,495		111,919
3.000%, 08/01/28		124,242		124,715
3.000%, 09/01/28		136,932		137,452
3.000%, 01/01/29		125,732		126,209
3.000%, 03/01/29		126,296		126,776
3.500%, 10/01/56		2,466,465		2,469,075
6.458%, 02/01/39		319,178		341,636
6.500%, 08/01/39		1,784,513		2,011,734
Fannie Mae REMICS (CMO) 1.750%, 06/25/42		314,909		297,284
1.750%, 01/25/43		318,838		304,567
2.792%, 1M LIBOR + 0.920%, 03/25/36 (b)		406,593		416,432
2.802%, 1M LIBOR + 0.930%, 06/25/36 (b)		642,092		659,499
3.000%, 05/25/46		5,220,062		5,196,863
3.500%, 08/25/26		5,811,435		5,942,447
4.250%, 03/25/42		1,870,696		1,954,581
4.329%, -1 x 1M LIBOR + 6.200%, 06/25/45 (b) (c)		2,448,976		326,806
4.500%, 09/25/25		3,090,000		3,230,739
4.679%, -1 x 1M LIBOR + 6.550%, 06/25/41 (b) (c)		576,195		77,293
4.679%, -1 x 1M LIBOR + 6.550%, 11/25/41 (b) (c)		891,915		143,706
4.729%, -1 x 1M LIBOR + 6.600%, 08/25/39 (b) (c)		450,881		54,932
4.739%, -1 x 1M LIBOR + 6.610%, 04/25/41 (b) (c)		650,511		87,843
4.750%, 01/25/41		430,785		458,552
5.000%, 12/25/23		197,489		204,939
5.000%, 12/25/34		330,006		357,242
5.000%, 03/25/35		269,101		290,486
5.000%, 08/25/39		448,680		484,325
5.000%, 02/25/41		229,480		252,104
5.000%, 05/15/41		828,306		947,998
5.500%, 07/25/34		130,037		133,510
5.500%, 06/25/35		172,436		181,467
5.500%, 08/25/35		1,195,293		1,279,750
6.000%, 06/25/45 (c)		776,477		176,850
Freddie Mac 15 Yr. Gold Pool 2.500%, 07/01/31		369,662		362,200
3.000%, 04/01/31		2,030,765		2,029,376
3.000%, 05/01/31		1,733,518		1,732,514
3.000%, 06/01/31		2,008,054		2,006,837
4.000%, 06/01/24		270,919		279,300
4.000%, 07/01/24		213,776		220,389
4.000%, 09/01/25		184,133		189,411
6.000%, 01/01/24		245,893		258,950
Freddie Mac 20 Yr. Gold Pool 3.500%, 03/01/32		1,346,657		1,376,286
3.500%, 06/01/32		3,654,826		3,735,129
3.500%, 02/01/34		5,184,725		5,298,844
4.000%, 06/01/33		1,543,815		1,608,174
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool 3.000%, 11/01/42		195,402		192,084
3.000%, 01/01/43		222,770		218,989
3.000%, 02/01/43		1,146,194		1,126,742
3.000%, 03/01/43		11,519,654		11,324,025
3.000%, 06/01/43		3,714,614		3,648,648
3.000%, 06/01/46		76,011		74,238
3.000%, 11/01/46		433,878		423,616
3.000%, 03/01/48		14,949,990		14,589,807
3.500%, 04/01/40		391,058		394,023
3.500%, 05/01/40		457,246		460,712
3.500%, 06/01/40		786,529		792,490
3.500%, 07/01/40		187,968		189,392
3.500%, 08/01/40		378,645		381,515
3.500%, 09/01/40		297,370		299,624
3.500%, 10/01/40		235,170		236,952
3.500%, 11/01/40		260,113		262,084
3.500%, 12/01/40		319,189		321,609
3.500%, 04/01/42		761,869		768,039
3.500%, 07/01/42		143,593		144,682
3.500%, 08/01/42		57,564		57,993
3.500%, 09/01/42		332,421		335,006
3.500%, 10/01/42		1,833,537		1,847,432
3.500%, 01/01/43		822,113		828,348
3.500%, 02/01/43		362,895		365,646
3.500%, 04/01/43		6,691,642		6,742,361
3.500%, 05/01/43		559,321		563,563
3.500%, 11/01/44		531,973		534,308
3.500%, 11/01/45		5,623,635		5,653,670
3.500%, 01/01/46		754,018		757,105
3.500%, 02/01/46		1,217,126		1,224,168
3.500%, 05/01/46		1,712,242		1,722,976
3.500%, 06/01/46		878,439		882,573
3.500%, 07/01/46		2,319,690		2,330,623
3.500%, 08/01/46		423,028		424,983
3.500%, 01/01/47		3,162,612		3,178,864
3.500%, 02/01/47		3,422,348		3,435,796
3.500%, 07/01/47		1,762,695		1,768,657
3.500%, 12/01/47		984,719		987,658
4.000%, 11/01/41		17,604		18,226
4.000%, 09/01/42		123,569		128,125
4.000%, 10/01/42		112,385		115,988
4.000%, 11/01/42		529,901		549,285
4.000%, 12/01/42		209,817		217,199
4.000%, 01/01/43		39,513		40,688
4.000%, 02/01/43		291,948		302,173
4.000%, 03/01/43		121,623		125,882
4.000%, 04/01/43		51,859		53,691
4.000%, 05/01/43		564,351		585,032
4.000%, 06/01/43		43,470		44,958
4.000%, 07/01/43		492,437		510,054
4.000%, 08/01/43		363,736		376,786
4.000%, 09/01/43		607,140		628,407
4.000%, 10/01/43		582,057		603,287
4.000%, 11/01/43		28,769		29,770
4.000%, 01/01/44		671,930		696,706

BHFTI-332

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool 4.000%, 02/01/44		89,045	$	92,000
4.000%, 03/01/44		62,823		65,427
4.000%, 04/01/44		77,515		80,764
4.000%, 12/01/44		17,702		18,186
4.000%, 01/01/45		607,438		625,992
4.000%, 12/01/45		669,932		690,417
4.000%, 07/01/47		4,671,999		4,802,794
4.500%, 05/01/39		121,277		127,828
4.500%, 07/01/40		2,495,998		2,640,827
4.500%, 09/01/40		1,104,498		1,168,651
4.500%, 02/01/41		93,296		98,721
4.500%, 08/01/41		969,529		1,023,645
4.500%, 09/01/41		108,152		114,532
4.500%, 10/01/41		218,067		230,933
4.500%, 02/01/44		46,663		48,930
5.000%, 01/01/35		210,784		227,260
5.000%, 05/01/35		111,631		120,386
5.000%, 07/01/35		1,411,872		1,522,338
5.000%, 11/01/35		1,299,281		1,415,863
5.000%, 06/01/41		2,204,007		2,395,895
5.000%, 07/01/41		517,098		556,908
5.500%, 03/01/34		1,543,636		1,702,210
5.500%, 07/01/35		1,054,911		1,162,863
Freddie Mac ARM Non-Gold Pool 3.055%, 12M LIBOR + 1.880%, 10/01/41 (b)		507,454		531,592
3.068%, 12M LIBOR + 1.750%, 09/01/41 (b)		492,505		510,419
3.204%, 12M LIBOR + 1.880%, 09/01/41 (b)		55,345		57,683
3.246%, 12M LIBOR + 1.880%, 04/01/41 (b)		45,114		47,126
3.271%, 12M LIBOR + 1.910%, 06/01/41 (b)		54,050		56,377
3.417%, 12M LIBOR + 1.910%, 05/01/41 (b)		54,591		57,135
3.500%, 12M LIBOR + 1.750%, 12/01/40 (b)		1,503,431		1,560,651
3.579%, 12M LIBOR + 1.910%, 05/01/41 (b)		75,880		79,496
3.642%, 12M LIBOR + 1.883%, 10/01/42 (b)		260,586		271,525
3.677%, 12M LIBOR + 1.910%, 06/01/41 (b)		69,108		72,367
Freddie Mac Multifamily Aggregation Risk Transfer Trust 2.181%, 1M LIBOR + 0.320%, 02/25/20 (b)		11,611,000		11,648,358
Freddie Mac Multifamily Structured Pass-Through Certificates 4.084%, 11/25/20 (b)		980,000		1,009,620
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 1.870%, 1M LIBOR + 0.200%, 10/25/19 (b)		5,500,000		5,499,998
1.883%, 05/25/19		4,452,000		4,424,519
1.890%, 1M LIBOR + 0.220%, 07/25/20 (b)		2,800,000		2,803,204
2.086%, 03/25/19		4,570,000		4,549,392
2.313%, 03/25/20		1,469,000		1,457,657
2.323%, 10/25/18		2,485,908		2,481,923
2.412%, 08/25/18		954,562		953,155
2.566%, 09/25/20 (b)		3,792,000		3,786,141
2.669%, 02/25/23		3,453,603		3,443,592
2.750%, 11/25/22		4,900,000		4,844,247
2.776%, 03/25/23		4,229,467		4,216,538
2.951%, 02/25/24		6,273,841		6,296,942
2.991%, 09/25/21		1,224,000		1,229,092
3.016%, 02/25/23		5,927,623		5,964,057
3.350%, 01/25/28		8,700,000		8,758,191
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 3.444%, 12/25/27		5,513,000		5,588,077
3.452%, 09/24/24		5,900,000		6,022,672
3.974%, 01/25/21 (b)		17,750,000		18,259,965
Freddie Mac REMICS (CMO) 1.750%, 06/15/42		236,735		226,607
2.177%, 1M LIBOR + 0.400%, 03/15/34 (b)		386,802		386,584
2.677%, 1M LIBOR + 0.900%, 02/15/33 (b)		238,782		243,492
3.500%, 02/15/26		2,500,000		2,545,788
3.500%, 05/15/26		1,782,000		1,824,609
3.500%, 11/15/31		2,334,780		2,376,251
4.000%, 01/15/41		10,205,306		10,659,310
4.250%, 03/15/40		3,511,117		3,631,686
4.500%, 12/15/26		1,669,111		1,754,352
4.500%, 09/15/27		938,831		951,698
4.500%, 02/15/41		38,368		40,182
5.000%, 10/15/34		403,610		433,770
5.000%, 12/15/37		125,944		132,815
5.000%, 03/15/41		500,000		537,076
5.000%, 04/15/41		738,245		818,060
5.500%, 05/15/34		2,141,307		2,308,709
5.500%, 11/15/36		717,802		773,958
5.500%, 06/15/41		4,220,000		4,679,309
Ginnie Mae I 30 Yr. Pool 3.000%, 05/15/42		579,905		573,261
3.000%, 04/15/43		218,577		216,458
3.000%, 05/15/43		240,082		236,955
3.000%, 01/15/45		113,665		112,039
3.000%, 02/15/45		153,957		151,864
3.000%, 03/15/45		989,651		975,419
3.000%, 05/15/45		52,699		51,937
3.000%, 06/15/45		108,594		107,025
3.000%, 07/15/45		496,683		489,544
3.500%, 11/15/41		308,622		314,302
3.500%, 02/15/42		284,096		289,329
3.500%, 03/15/42		291,634		296,441
3.500%, 05/15/42		955,427		970,401
3.500%, 06/15/42		627,138		636,618
4.000%, 09/15/40		1,796,675		1,882,442
4.000%, 10/15/40		135,035		139,619
4.000%, 03/15/41		693,521		725,393
4.000%, 06/15/41		32,593		33,719
4.000%, 09/15/41		170,421		176,359
4.000%, 10/15/41		846,658		880,346
4.000%, 11/15/41		253,440		262,303
4.000%, 12/15/41		733,314		762,246
4.000%, 01/15/42		43,920		45,418
4.000%, 02/15/42		44,841		46,409
4.000%, 03/15/42		200,025		206,935
4.000%, 11/15/42		32,854		33,980
4.000%, 01/15/43		56,617		58,608
4.500%, 08/15/39		2,038,050		2,143,168
4.500%, 06/15/40		570,498		596,880
4.500%, 07/15/40		139,553		147,690
4.500%, 03/15/41		733,757		775,883

BHFTI-333

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—(Continued)
Ginnie Mae I 30 Yr. Pool 4.500%, 04/15/41		63,012	$	66,286
5.000%, 03/15/39		78,718		84,550
5.000%, 07/15/39		154,447		165,038
5.000%, 08/15/39		146,597		157,501
5.000%, 09/15/39		101,675		109,227
5.000%, 04/15/40		48,564		52,173
5.000%, 08/15/40		173,762		186,553
5.000%, 04/15/41		132,049		141,810
5.000%, 09/15/41		95,151		102,252
5.500%, 10/15/39		21,730		23,691
6.000%, 06/15/36		953,564		1,072,698
Ginnie Mae II 30 Yr. Pool 3.000%, 12/20/42		1,277,001		1,263,171
3.000%, 03/20/43		1,157,674		1,145,600
3.000%, 11/20/46		20,196,386		19,915,075
3.500%, 12/20/42		497,721		505,352
3.500%, 12/20/45		10,381,701		10,498,522
3.500%, 05/20/46		2,627,113		2,658,482
3.500%, 06/20/46		7,036,119		7,116,559
3.500%, TBA (a)		16,900,000		17,064,048
4.000%, 09/20/39		182,115		190,960
4.000%, 10/20/40		24,654		25,774
4.000%, 11/20/40		1,726,302		1,804,768
4.000%, 10/20/41		2,144,581		2,241,987
4.000%, 11/20/41		797,361		833,560
4.000%, 04/20/42		1,036,138		1,083,057
4.000%, 06/20/42		77,869		81,205
4.000%, 08/20/44		288,441		298,597
4.000%, 10/20/44		2,086,001		2,159,335
4.000%, 11/20/44		4,620,694		4,783,075
4.000%, 12/20/44		117,240		121,365
4.000%, 05/20/47		1,228,564		1,265,889
4.500%, 02/20/40		183,321		192,719
4.500%, 09/20/40		19,756		20,771
4.500%, TBA (a)		48,500,000		50,332,957
Ginnie Mae II Pool 4.313%, 08/20/61 (b)		337,825		340,192
4.482%, 12/20/61 (b)		5,638,664		5,712,396
4.717%, 01/20/62 (b)		1,750,900		1,772,532
5.470%, 08/20/59 (b)		4,411		4,563
Government National Mortgage Association (CMO) 1.650%, 01/20/63		1,116,054		1,101,443
1.750%, 03/20/63		6,025,378		5,934,941
1.875%, 1M LIBOR + 0.300%, 08/20/60 (b)		196,376		195,704
1.875%, 1M LIBOR + 0.300%, 09/20/60 (b)		223,583		222,831
1.961%, 1M LIBOR + 0.330%, 07/20/60 (b)		244,168		243,526
2.065%, 1M LIBOR + 0.490%, 02/20/61 (b)		295,259		295,683
2.075%, 1M LIBOR + 0.500%, 12/20/60 (b)		533,594		534,675
2.075%, 1M LIBOR + 0.500%, 02/20/61 (b)		88,209		88,354
2.075%, 1M LIBOR + 0.500%, 04/20/61 (b)		179,748		180,113
2.075%, 1M LIBOR + 0.500%, 05/20/61 (b)		364,305		365,142
2.105%, 1M LIBOR + 0.530%, 06/20/61 (b)		247,217		247,866
2.140%, 1Y CMT + 0.350%, 08/20/66 (b)		6,245,806		6,262,505
2.175%, 1M LIBOR + 0.600%, 10/20/61 (b)		855,476		859,417
2.205%, 1M LIBOR + 0.630%, 01/20/62 (b)		856,775		861,600
Agency Sponsored Mortgage - Backed—(Continued)
Government National Mortgage Association (CMO) 2.205%, 1M LIBOR + 0.630%, 03/20/62 (b)		530,669		533,468
2.225%, 1M LIBOR + 0.650%, 05/20/61 (b)		572,731		573,666
2.225%, 1M LIBOR + 0.650%, 11/20/65 (b)		1,071,318		1,074,745
2.275%, 1M LIBOR + 0.700%, 11/20/61 (b)		790,424		796,425
2.275%, 1M LIBOR + 0.700%, 01/20/62 (b)		556,644		560,682
2.290%, 1Y CMT + 0.500%, 05/20/66 (b)		6,611,705		6,648,088
2.302%, 1M LIBOR + 0.480%, 01/20/38 (b)		44,092		44,267
2.316%, 1M LIBOR + 0.530%, 12/16/39 (b)		163,524		164,620
2.322%, 1M LIBOR + 0.500%, 07/20/37 (b)		176,840		177,689
2.386%, 1M LIBOR + 0.600%, 11/16/39 (b)		219,075		220,751
2.500%, 06/20/63		26,127,622		26,042,511
2.500%, 05/20/65		4,444,482		4,426,746
2.500%, 06/20/65		1,101,877		1,097,672
2.750%, 02/20/64		6,739,337		6,711,822
2.750%, 05/20/64		1,338,514		1,324,788
3.500%, 11/20/36 (c)		175,831		12,623
3.500%, 09/20/63		2,596,851		2,617,500
4.000%, 12/20/40		4,613,553		4,797,155
4.278%, -1 x 1M LIBOR + 6.100%, 07/20/41 (b) (c)		241,637		31,119
4.500%, 05/16/40		80,000		84,187
4.500%, 05/20/40 (c)		28,183		3,516
4.500%, 12/20/40		1,853,445		1,953,337
5.000%, 12/20/39		4,085,663		4,403,315
5.000%, 03/20/40		3,190,000		3,495,904
5.010%, 09/20/60 (b)		1,828,655		1,861,882
5.150%, 08/20/60		1,777,527		1,810,217
5.296%, 07/20/60 (b)		2,126,567		2,170,976
5.500%, 04/20/34		160,960		197,070
6.237%, -1 x 1M LIBOR + 8.667%, 04/20/39 (b)		1,091,108		1,101,492
6.371%, -1 x 1M LIBOR + 8.800%, 08/20/39 (b)		3,092,569		3,160,809
				687,687,137
Federal Agencies—4.8%
Federal Home Loan Bank 2.125%, 02/11/20		25,000,000		24,896,450
Federal Home Loan Mortgage Corp. 6.250%, 07/15/32		7,568,000		10,311,453
6.750%, 03/15/31		481,000		668,222
Federal National Mortgage Association 1.500%, 11/30/20		2,000		1,953
6.625%, 11/15/30		1,430,000		1,957,940
Tennessee Valley Authority 5.250%, 09/15/39		557,000		731,207
5.500%, 06/15/38		6,117,000		8,189,984
5.880%, 04/01/36		2,127,000		2,906,005
				49,663,214
U.S. Treasury—22.7%
U.S. Treasury Bonds 2.500%, 02/15/46		5,001,000		4,551,496
2.750%, 08/15/47		21,489,000		20,537,944
2.750%, 11/15/47		2,250,000		2,150,947
2.875%, 08/15/45		22,188,000		21,789,309
3.000%, 11/15/44		9,140,000		9,200,695

BHFTI-334

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—(Continued)

Security Description	Principal Amount*		Value
U.S. Treasury—(Continued)
U.S. Treasury Bonds 3.000%, 11/15/45		9,700,000	$	9,754,563
3.000%, 05/15/47		900,000		904,395
3.000%, 02/15/48		3,250,000		3,268,535
3.625%, 02/15/44 (d)		48,659,000		54,522,790
4.375%, 05/15/40		7,000,000		8,677,539
4.375%, 05/15/41		8,966,000		11,158,817
4.750%, 02/15/37		7,177,000		9,186,560
5.250%, 02/15/29 (d)		15,580,000		19,206,610
6.125%, 08/15/29		2,839,000		3,767,553
U.S. Treasury Notes 1.125%, 09/30/21		15,000		14,329
1.500%, 08/15/26		4,153,000		3,769,659
2.000%, 08/15/25		18,254,000		17,395,492
2.000%, 11/15/26		2,480,000		2,338,950
2.125%, 05/15/25		4,271,000		4,113,006
2.250%, 12/31/24		19,169,000		18,659,075
2.250%, 11/15/27		119,000		113,989
2.500%, 03/31/23		1,500,000		1,495,371
2.625%, 02/28/23		200,000		200,609
2.750%, 02/28/25		5,150,000		5,171,525
2.750%, 02/15/28		4,250,000		4,252,158
				236,201,916
Total U.S. Treasury & Government Agencies (Cost $988,470,450)				973,552,267
Asset-Backed Securities—7.5%
Asset-Backed - Other—2.0%
CLUB Credit Trust 2.990%, 05/15/24 (144A)		5,012,000		5,011,824
Ford Credit Floorplan Master Owner Trust 2.950%, 05/15/23		7,578,000		7,577,403
Nationstar HECM Loan Trust 1.968%, 05/25/27 (144A)		3,407,465		3,395,471
2.760%, 02/25/28 (144A) (b)		5,330,286		5,330,286
				21,314,984
Asset-Backed - Student Loan—5.5%
GCO Education Loan Funding Trust 2.074%, 3M LIBOR + 0.130%, 05/25/25 (b)		1,867,888		1,866,456
Goal Capital Funding Trust 2.114%, 3M LIBOR + 0.170%, 05/28/30 (b)		925,502		923,944
Higher Education Funding I 2.104%, 3M LIBOR + 0.160%, 02/25/32 (b)		925,177		923,823
Illinois Student Assistance Commission 2.795%, 3M LIBOR + 1.050%, 04/25/22 (b)		259,271		259,520
Navient Student Loan Trust 2.062%, 1M LIBOR + 0.190%, 03/25/67 (144A) (b)		4,088,218		4,086,688
2.172%, 1M LIBOR + 0.300%, 07/26/66 (144A) (b)		2,335,294		2,336,494
2.272%, 1M LIBOR + 0.400%, 07/26/66 (144A) (b)		5,150,722		5,154,139
2.292%, 1M LIBOR + 0.420%, 08/27/29 (b)		3,521,151		3,525,925
2.472%, 1M LIBOR + 0.600%, 07/26/66 (144A) (b)		3,846,000		3,869,747
Asset-Backed - Student Loan—(Continued)
Northstar Education Finance, Inc. 1.990%, 3M LIBOR + 0.230%, 07/28/21 (b)		6,739,380		6,734,800
SLM Student Loan Trust 2.215%, 3M LIBOR + 0.470%, 01/26/26 (b)		26,919,511		26,986,600
				56,668,136
Total Asset-Backed Securities (Cost $77,974,735)				77,983,120
Foreign Government—4.1%
Sovereign—4.1%
Hashemite Kingdom of Jordan Government AID Bond 3.000%, 06/30/25		5,389,000		5,423,827
Israel Government AID Bonds 5.500%, 09/18/23		13,878,000		15,744,956
5.500%, 12/04/23		8,920,000		10,186,003
5.500%, 04/26/24		1,900,000		2,178,956
Ukraine Government AID Bond 1.471%, 09/29/21		9,388,000		9,050,267
Total Foreign Government (Cost $46,344,263)				42,584,009
Mortgage-Backed Securities—1.5%
Collateralized Mortgage Obligations—0.8%
Holmes Master Issuer plc 2.146%, 3M LIBOR + 0.360%, 10/15/54 (144A) (b)		3,000,000		2,998,308
National Credit Union Administration Guaranteed Notes Trust 2.161%, 1M LIBOR + 0.450%, 01/08/20 (b)		4,328,734		4,338,377
Nomura Resecuritization Trust 3.546%, 03/26/37 (144A) (b)		247,026		247,613
RBSSP Resecuritization Trust 3.510%, 07/26/45 (144A) (b)		414,726		416,137
Thornburg Mortgage Securities Trust 2.512%, 1M LIBOR + 0.640%, 09/25/43 (b)		318,736		308,227
				8,308,662
Commercial Mortgage-Backed Securities—0.7%
GS Mortgage Securities Trust 2.045%, 03/10/50		3,690,123		3,638,918
SCG Trust 3.427%, 1M LIBOR + 1.650%, 11/15/26 (144A) (b)		3,750,000		3,749,992
				7,388,910
Total Mortgage-Backed Securities (Cost $15,768,414)				15,697,572
Corporate Bonds & Notes—1.5%
Diversified Financial Services—0.6%
Private Export Funding Corp. 4.300%, 12/15/21		6,000,000		6,353,778

BHFTI-335

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Sovereign—0.9%
National Credit Union Administration Guaranteed Notes Trust 3.450%, 06/12/21		8,645,000	$	8,886,974
Total Corporate Bonds & Notes (Cost $16,500,975)				15,240,752
Short-Term Investment—0.6%
Mutual Fund—0.6%
State Street Institutional Liquid Reserves Fund, Trust Class, 1.762% (e)		6,798,655		6,797,295
Total Short-Term Investments (Cost $6,797,907)				6,797,295
Total Purchased Options—0.3% (f) (Cost $2,793,278)				2,821,756
Total Investments—109.3% (Cost $1,154,650,022)				1,134,676,771
Other assets and liabilities (net)—(9.3)%				(96,940,440	)
Net Assets—100.0%			$	1,037,736,331

*	Principal and notional amounts stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	Interest only security.
(d)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $1,598,660.
(e)	The rate shown represents the annualized seven-day yield as of March 31, 2018.
(f)	For a breakout of open positions, see details shown in the Purchased Options table that follows.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $36,596,699, which is 3.5% of net assets.

TBA Forward Sale Commitments

Security Description	Interest Rate			Maturity		Face Amount			Cost			Value
Fannie Mae 30 Yr. Pool		3.500	%		TBA	$	(11,000,000	)	$	(10,986,250	)	$	(11,022,988	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation
U.S. Treasury Long Bond Futures		06/20/18		6			USD	879,750		$	29,612
U.S. Treasury Note 10 Year Futures		06/20/18		478			USD	57,905,219			608,624
U.S. Treasury Note 5 Year Futures		06/29/18		44			USD	5,036,281			5,755
U.S. Treasury Note Ultra 10 Year Futures		06/20/18		114			USD	14,803,969			248,244
Futures Contracts—Short
U.S. Treasury Note 2 Year Futures		06/29/18		(230	)		USD	(48,900,156	)		25,487
Net Unrealized Appreciation										$	917,722

Purchased Options

Interest Rate Swaptions	Strike Rate	Counterparty		Floating Rate Index	Pay/Receive Floating Rate	Expiration Date		Number of Contracts		Notional Amount			Premiums Paid		Market Value		Unrealized Appreciation/ (Depreciation)
Call - OTC - Interest Rate Swap	2.495%		GSC	3M LIBOR	Receive		10/05/20		3,500,000		USD	3,500,000	$	116,375	$	137,761	$	21,386
Call - OTC - Interest Rate Swap	2.534%		JPMC	3M LIBOR	Receive		12/08/20		3,000,000		USD	3,000,000		92,100		116,474		24,374
Call - OTC - Interest Rate Swap	2.788%		GSC	3M LIBOR	Receive		01/25/21		40,400,000		USD	40,400,000		1,188,164		1,252,650		64,486
Put - OTC - Interest Rate Swap	2.495%		GSC	3M LIBOR	Pay		10/05/20		3,500,000		USD	3,500,000		116,375		66,353		(50,022	)
Put - OTC - Interest Rate Swap	2.534%		JPMC	3M LIBOR	Pay		12/08/20		3,000,000		USD	3,000,000		92,100		116,474		24,374
Put - OTC - Interest Rate Swap	2.788%		GSC	3M LIBOR	Pay		01/25/21		40,400,000		USD	40,400,000		1,188,164		1,132,044		(56,120	)
Totals													$	2,793,278	$	2,821,756	$	28,478

BHFTI-336

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

Written Options

Interest Rate Swaptions	Strike Rate	Counterparty		Floating Rate Index	Pay/Receive Floating Rate	Expiration Date		Number of Contracts			Notional Amount				Premiums Received			Market Value			Unrealized Appreciation/ (Depreciation)
Call - OTC - Interest Rate Swap	3.065%		GSC	3M LIBOR	Receive		02/05/21		(20,080,000	)		USD	(20,080,000	)	$	(653,704	)	$	(473,278	)	$	180,426
Put - OTC - Interest Rate Swap	3.065%		GSC	3M LIBOR	Pay		02/05/21		(20,080,000	)		USD	(20,080,000	)		(653,705	)		(746,432	)		(92,727	)
Totals															$	(1,307,409	)	$	(1,219,710	)	$	87,699

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate	Floating Rate Index	Payment Frequency		Fixed Rate	Payment Frequency	Maturity Date		Notional Amount			Market Value			Upfront Premiums (Received)			Unrealized Appreciation
Pay	3MLIBOR		Quarterly	2.000%	Semi-Annually		06/20/23		USD	35,100,000	$	(1,217,823	)	$	(1,341,733	)	$	123,910
Pay	3MLIBOR		Quarterly	2.000%	Semi-Annually		06/20/25		USD	6,050,000		(289,208	)		(323,383	)		34,175
Totals											$	(1,507,031	)	$	(1,665,116	)	$	158,085

Glossary of Abbreviations

Counterparties

(GSC)—	Goldman Sachs & Co.
(JPMC)—	JPMorgan Chase Bank N.A.

Currencies

(USD)— United States Dollar

Index Abbreviations

(CMT)—	Constant Maturity Treasury Index
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(ARM)—	Adjustable-Rate Mortgage
(CMO)—	Collateralized Mortgage Obligation
(REMIC)—	Real Estate Mortgage Investment Conduit

BHFTI-337

Brighthouse Funds Trust I

Fidelity Institutional Asset Management Government Income Portfolio (formerly, Pyramis Government Income Portfolio)

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	973,552,267		$	—	$	973,552,267
Total Asset-Backed Securities*		—		77,983,120			—		77,983,120
Total Foreign Government*		—		42,584,009			—		42,584,009
Total Mortgage-Backed Securities*		—		15,697,572			—		15,697,572
Total Corporate Bonds & Notes*		—		15,240,752			—		15,240,752
Total Short-Term Investment*		6,797,295		—			—		6,797,295
Total Purchased Options		—		2,821,756			—		2,821,756
Total Investments	$	6,797,295	$	1,127,879,476		$	—	$	1,134,676,771
TBA Forward Sales Commitments	$	—	$	(11,022,988	)	$	—	$	(11,022,988	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	917,722	$	—		$	—	$	917,722
Written Options at Value	$	—	$	(1,219,710	)	$	—	$	(1,219,710	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Appreciation)	$	—	$	158,085		$	—	$	158,085

* See Schedule of Investments for additional detailed categorizations.

BHFTI-338

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—34.7% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.2%
General Dynamics Corp.		4,800	$	1,060,320
Meggitt plc		43,418		263,368
QinetiQ Group plc		111,094		321,899
Raytheon Co.		700		151,074
Triumph Group, Inc.		7,900		199,080
Ultra Electronics Holdings plc		14,376		279,226
				2,274,967
Air Freight & Logistics—0.0%
Royal Mail plc		52,296		397,126
Airlines—0.1%
Deutsche Lufthansa AG		12,061		385,272
JetBlue Airways Corp. (a)		17,700		359,664
				744,936
Auto Components—0.7%
BorgWarner, Inc.		13,400		673,082
Bridgestone Corp.		20,400		895,616
Cie Generale des Etablissements Michelin		2,714		401,167
Continental AG		2,193		605,246
Delphi Technologies plc		5,100		243,015
Gentex Corp.		28,344		652,479
HI-LEX Corp.		1,900		51,037
Keihin Corp.		3,700		76,194
LCI Industries		900		93,735
Lear Corp.		5,700		1,060,713
Linamar Corp.		6,000		327,768
Magna International, Inc.		22,500		1,267,377
NHK Spring Co., Ltd.		22,400		240,714
Nokian Renkaat Oyj		15,859		721,367
Piolax, Inc.		2,500		65,976
Stanley Electric Co., Ltd.		8,900		335,560
Toyota Boshoku Corp.		21,400		444,584
TS Tech Co., Ltd.		2,800		111,248
Unipres Corp.		4,500		101,823
Xinyi Glass Holdings, Ltd.		78,000		119,021
				8,487,722
Automobiles—0.3%
Ford Motor Co.		64,600		715,768
Isuzu Motors, Ltd.		11,100		170,408
Mazda Motor Corp.		11,700		156,276
Subaru Corp.		30,900		1,022,742
Suzuki Motor Corp.		14,200		770,849
Thor Industries, Inc.		1,800		207,306
				3,043,349
Banks—2.7%
Aichi Bank, Ltd. (The)		600		30,663
Aozora Bank, Ltd.		1,300		52,074
Awa Bank, Ltd. (The)		17,000		111,025
Bank Hapoalim B.M.		86,104		592,007
Bank Leumi Le-Israel B.M.		43,799		264,537
Bank of America Corp.		115,300		3,457,847
Banks—(Continued)
Bank of Ireland Group plc (a)		54,848		480,748
Barclays Africa Group, Ltd.		15,052		241,659
Barclays plc		658,775		1,923,930
BNP Paribas S.A.		28,733		2,130,421
Chiba Bank, Ltd. (The)		36,000		295,196
Citigroup, Inc.		26,700		1,802,250
Commerzbank AG (a)		11,959		155,374
Fifth Third Bancorp		14,340		455,295
Hachijuni Bank, Ltd. (The)		61,600		335,118
HSBC Holdings plc		37,740		352,788
Iyo Bank, Ltd. (The)		37,400		286,381
Japan Post Bank Co., Ltd.		62,700		852,409
JPMorgan Chase & Co.		46,800		5,146,596
Mediobanca S.p.A.		82,446		970,529
Mitsubishi UFJ Financial Group, Inc.		62,500		414,822
Royal Bank of Scotland Group plc (a)		388,918		1,415,345
Seven Bank, Ltd.		72,300		232,288
Shinsei Bank, Ltd.		20,800		322,457
Shizuoka Bank, Ltd. (The)		38,000		367,468
Societe Generale S.A.		35,215		1,915,882
Standard Chartered plc		155,734		1,559,420
Sumitomo Mitsui Financial Group, Inc.		7,900		334,995
UniCredit S.p.A. (a)		36,594		767,820
Wells Fargo & Co.		76,400		4,004,124
				31,271,468
Beverages—0.2%
Diageo plc		63,567		2,150,477
PepsiCo, Inc.		6,100		665,815
				2,816,292
Biotechnology—1.0%
AbbVie, Inc.		27,558		2,608,364
Amgen, Inc.		17,660		3,010,677
Biogen, Inc. (a)		8,000		2,190,560
Celgene Corp. (a)		13,300		1,186,493
Gilead Sciences, Inc.		24,000		1,809,360
United Therapeutics Corp. (a)		4,500		505,620
				11,311,074
Building Products—0.1%
Allegion plc		7,000		597,030
Asahi Glass Co., Ltd.		12,300		515,537
				1,112,567
Capital Markets—1.3%
Affiliated Managers Group, Inc.		7,800		1,478,724
Amundi S.A.		5,258		423,132
Ashmore Group plc		70,982		379,646
Bolsas y Mercados Espanoles SHMSF S.A.		12,554		425,229
CI Financial Corp.		25,800		552,707
Close Brothers Group plc		11,463		231,121
Daiwa Securities Group, Inc.		62,000		397,881
Deutsche Bank AG		55,787		777,850
Federated Investors, Inc. - Class B		17,400		581,160

BHFTI-339

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Capital Markets—(Continued)
Franklin Resources, Inc.		41,900	$	1,453,092
Goldman Sachs Group, Inc. (The)		8,590		2,163,477
IG Group Holdings plc		29,935		335,461
IGM Financial, Inc.		13,100		383,030
Invesco, Ltd.		34,300		1,097,943
Macquarie Group, Ltd.		23,549		1,878,807
Nomura Holdings, Inc.		175,500		1,021,771
Platinum Asset Management, Ltd.		20,405		92,703
UBS Group AG (a)		75,672		1,332,447
Waddell & Reed Financial, Inc. - Class A		11,000		222,310
				15,228,491
Chemicals—0.7%
BASF SE		12,063		1,225,973
Chase Corp.		256		29,811
Covestro AG		15,914		1,566,440
Daicel Corp.		59,700		654,057
DIC Corp.		6,500		218,933
Kuraray Co., Ltd.		6,900		119,875
Lotte Chemical Corp.		282		115,305
LyondellBasell Industries NV - Class A		4,100		433,288
Mitsubishi Chemical Holdings Corp.		65,800		639,016
Mitsubishi Gas Chemical Co., Inc.		13,200		317,353
Mosaic Co. (The)		14,300		347,204
Nitto Denko Corp.		4,600		348,747
Petronas Chemicals Group Bhd		91,400		193,140
Shikoku Chemicals Corp.		2,000		29,676
Sumitomo Chemical Co., Ltd.		61,000		352,704
Sumitomo Seika Chemicals Co., Ltd.		1,300		62,551
Toagosei Co., Ltd.		27,800		328,410
Tosoh Corp.		36,200		714,996
Ube Industries, Ltd.		11,600		340,257
Victrex plc		13,754		496,079
				8,533,815
Commercial Services & Supplies—0.3%
Babcock International Group plc		37,073		348,325
Copart, Inc. (a)		1,900		96,767
Deluxe Corp.		14,500		1,073,145
Pitney Bowes, Inc.		59,187		644,546
Societe BIC S.A.		4,364		434,445
Stericycle, Inc. (a) (b)		7,300		427,269
Transcontinental, Inc. - Class A		18,900		373,350
				3,397,847
Communications Equipment—0.2%
Cisco Systems, Inc.		32,400		1,389,636
F5 Networks, Inc. (a)		3,800		549,518
Juniper Networks, Inc.		30,600		744,498
				2,683,652
Construction & Engineering—0.2%
Kajima Corp.		72,000		676,972
Maeda Road Construction Co., Ltd.		18,000		362,598
Nichireki Co., Ltd.		2,000		22,733
Nippo Corp.		5,000		112,985
Construction & Engineering—(Continued)
Obayashi Corp.		40,300		443,754
Taisei Corp.		6,300		322,807
				1,941,849
Construction Materials—0.0%
Taiheiyo Cement Corp.		6,600		238,213
Consumer Finance—0.5%
American Express Co.		25,700		2,397,296
Capital One Financial Corp.		10,200		977,364
Discover Financial Services		18,900		1,359,477
Gentera S.A.B. de C.V.		94,200		69,081
Synchrony Financial		33,500		1,123,255
				5,926,473
Distributors—0.0%
Jardine Cycle & Carriage, Ltd.		5,200		137,431
Diversified Consumer Services—0.0%
H&R Block, Inc.		22,000		559,020
Diversified Financial Services—0.1%
Berkshire Hathaway, Inc. - Class B (a)		4,100		817,868
Corp. Financiera Alba S.A. (b)		1,850		111,802
Investor AB - B Shares		17,853		794,688
				1,724,358
Diversified Telecommunication Services—1.0%
AT&T, Inc.		22,011		784,692
BCE, Inc.		37,900		1,630,905
Chunghwa Telecom Co., Ltd.		56,000		214,998
Nippon Telegraph & Telephone Corp.		49,200		2,285,568
Proximus SADP		7,025		218,144
Singapore Telecommunications, Ltd.		768,700		1,990,474
Swisscom AG (b)		3,184		1,579,096
Telekomunikasi Indonesia Persero Tbk PT		1,760,200		461,962
Telstra Corp., Ltd.		377,028		914,776
Verizon Communications, Inc.		28,000		1,338,960
Verizon Communications, Inc. (London Listed Shares)		10,693		511,339
				11,930,914
Electric Utilities—0.1%
CK Infrastructure Holdings, Ltd.		48,000		394,513
Enel Americas S.A. (ADR)		31,502		366,053
Red Electrica Corp. S.A.		34,069		701,784
				1,462,350
Electrical Equipment—0.6%
ABB, Ltd.		24,977		593,596
Acuity Brands, Inc. (b)		2,700		375,813
Eaton Corp. plc		25,600		2,045,696
Hubbell, Inc.		5,900		718,502
Rockwell Automation, Inc.		2,300		400,660
Schneider Electric SE		27,644		2,431,589
				6,565,856

BHFTI-340

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Electronic Equipment, Instruments & Components—0.1%
AAC Technologies Holdings, Inc.		9,500	$	173,710
Amphenol Corp. - Class A		3,200		275,616
Elite Material Co., Ltd.		52,000		172,954
Spectris plc		6,212		235,134
TE Connectivity, Ltd.		4,100		409,590
				1,267,004
Energy Equipment & Services—0.2%
CARBO Ceramics, Inc. (a) (b)		9,500		68,875
Diamond Offshore Drilling, Inc. (a) (b)		21,800		319,588
Dril-Quip, Inc. (a) (b)		6,000		268,800
Ensco plc - Class A (b)		68,600		301,154
Noble Corp. plc (a)		48,800		181,048
Oil States International, Inc. (a)		4,900		128,380
Precision Drilling Corp. (a)		61,000		169,504
Rowan Cos. plc - Class A (a) (b)		28,800		332,352
Subsea 7 S.A.		41,355		528,494
Transocean, Ltd. (a) (b)		53,600		530,640
Unit Corp. (a) (b)		3,000		59,280
				2,888,115
Equity Real Estate Investment Trusts—0.2%
Apple Hospitality REIT, Inc.		14,900		261,793
Charter Hall Group		37,555		166,277
Host Hotels & Resorts, Inc.		51,700		963,688
Park Hotels & Resorts, Inc.		10,400		281,008
Quality Care Properties, Inc. (a)		11,700		227,331
				1,900,097
Food & Staples Retailing—0.2%
CVS Health Corp.		27,100		1,685,891
Walgreens Boots Alliance, Inc.		17,400		1,139,178
				2,825,069
Food Products—1.2%
Campbell Soup Co. (b)		40,800		1,767,048
General Mills, Inc.		40,900		1,842,954
Hershey Co. (The)		21,200		2,097,952
Kellogg Co.		13,100		851,631
Lamb Weston Holdings, Inc.		7,800		454,116
Leroy Seafood Group ASA		65,836		409,135
Mitsui Sugar Co., Ltd.		6,000		230,671
Nestle S.A.		53,828		4,261,368
Pilgrim’s Pride Corp. (a)		7,900		194,419
Salmar ASA		14,131		582,871
Sanderson Farms, Inc. (b)		3,800		452,276
Tiger Brands, Ltd.		10,456		328,495
				13,472,936
Health Care Equipment & Supplies—0.3%
Hoya Corp.		21,700		1,098,966
ResMed, Inc.		3,800		374,186
Smith & Nephew plc		36,641		684,964
Sonova Holding AG		2,021		321,236
Health Care Equipment & Supplies—(Continued)
Varian Medical Systems, Inc. (a)		4,300		527,395
				3,006,747
Health Care Providers & Services—0.8%
Cigna Corp.		5,000		838,700
Express Scripts Holding Co. (a)		25,500		1,761,540
Fresenius SE & Co. KGaA		2,596		198,290
HCA Healthcare, Inc.		14,200		1,377,400
McKesson Corp.		7,300		1,028,351
Quest Diagnostics, Inc.		7,979		800,294
Triple-S Management Corp. - Class B (a)		2,900		75,806
UnitedHealth Group, Inc.		11,600		2,482,400
Universal Health Services, Inc. - Class B		2,600		307,866
				8,870,647
Health Care Technology—0.1%
AGFA-Gevaert NV (a)		26,049		100,880
Cerner Corp. (a)		10,000		580,000
				680,880
Hotels, Restaurants & Leisure—0.0%
Playtech plc		14,782		152,440
Household Durables—0.3%
Barratt Developments plc		72,427		539,494
Berkeley Group Holdings plc		8,668		461,342
Garmin, Ltd.		15,900		936,987
Haseko Corp.		28,800		444,173
JM AB		17,208		391,063
Leggett & Platt, Inc. (b)		14,100		625,476
Tupperware Brands Corp.		11,851		573,351
				3,971,886
Household Products—0.9%
Clorox Co. (The)		11,900		1,584,009
Colgate-Palmolive Co.		27,900		1,999,872
Energizer Holdings, Inc. (b)		9,100		542,178
Kimberly-Clark Corp.		20,400		2,246,652
Procter & Gamble Co. (The)		50,259		3,984,534
				10,357,245
Industrial Conglomerates—0.5%
3M Co.		11,000		2,414,720
Honeywell International, Inc.		11,100		1,604,061
Jardine Matheson Holdings, Ltd.		5,200		320,755
Smiths Group plc		48,114		1,023,173
				5,362,709
Insurance—1.3%
Aegon NV		28,089		189,686
Aflac, Inc.		40,600		1,776,656
Ageas		19,224		993,866
American Equity Investment Life Holding Co.		7,900		231,944
American National Insurance Co.		812		94,972

BHFTI-341

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Assured Guaranty, Ltd.		5,700	$	206,340
Athene Holding, Ltd. - Class A (a)		15,600		745,836
AXA S.A.		51,514		1,371,403
Axis Capital Holdings, Ltd.		10,500		604,485
CNA Financial Corp.		5,200		256,620
Everest Re Group, Ltd.		3,126		802,819
Legal & General Group plc		562,367		2,037,129
Lincoln National Corp.		8,300		606,398
Mapfre S.A.		70,296		233,806
National Western Life Group, Inc. - Class A		700		213,416
NN Group NV		14,043		623,664
Principal Financial Group, Inc.		15,365		935,882
Prudential plc		22,442		1,369,647
Swiss Re AG		7,184		731,500
Third Point Reinsurance, Ltd. (a)		28,600		398,970
Universal Insurance Holdings, Inc.		4,159		132,672
Unum Group		23,100		1,099,791
				15,657,502
Internet & Direct Marketing Retail—0.4%
Amazon.com, Inc. (a)		3,200		4,631,488
Internet Software & Services—1.1%
Alphabet, Inc. - Class A (a)		4,000		4,148,560
Alphabet, Inc. - Class C (a)		4,160		4,292,247
carsales.com, Ltd.		15,213		158,929
eBay, Inc. (a)		27,500		1,106,600
Facebook, Inc. - Class A (a)		19,200		3,067,968
j2 Global, Inc.		4,300		339,356
Kakaku.com, Inc.		7,800		137,629
Mixi, Inc.		5,200		194,207
				13,445,496
IT Services—1.1%
Amdocs, Ltd.		10,703		714,104
Automatic Data Processing, Inc.		9,600		1,089,408
CGI Group, Inc. - Class A (a)		14,168		817,078
Cognizant Technology Solutions Corp. - Class A		23,400		1,883,700
Infosys, Ltd. (ADR) (b)		38,100		680,085
MasterCard, Inc. - Class A		6,800		1,191,088
Paychex, Inc.		20,700		1,274,913
SCSK Corp.		5,200		225,842
Visa, Inc. - Class A		34,200		4,091,004
Western Union Co. (The)		40,800		784,584
				12,751,806
Leisure Products—0.1%
Hasbro, Inc.		15,200		1,281,360
Life Sciences Tools & Services—0.1%
Charles River Laboratories International, Inc. (a)		2,800		298,872
Waters Corp. (a)		2,300		456,895
				755,767
Machinery—0.9%
Allison Transmission Holdings, Inc.		9,500		371,070
Atlas Copco AB - A Shares		43,991		1,905,756
Cummins, Inc.		8,200		1,329,138
Donaldson Co., Inc.		3,100		139,655
Dover Corp.		10,200		1,001,844
Fortive Corp.		8,100		627,912
Graco, Inc.		9,300		425,196
IDEX Corp.		2,429		346,157
Illinois Tool Works, Inc.		4,700		736,302
IMI plc		22,429		340,438
Kone Oyj - Class B		24,500		1,223,786
Kyokuto Kaihatsu Kogyo Co., Ltd.		3,000		44,442
Shinmaywa Industries, Ltd.		17,000		139,807
Snap-on, Inc. (b)		4,000		590,160
Spirax-Sarco Engineering plc		3,804		307,505
Toro Co. (The)		9,200		574,540
Yangzijiang Shipbuilding Holdings, Ltd.		357,600		332,979
Zardoya Otis S.A.		47,283		476,141
				10,912,828
Media—1.1%
AMC Networks, Inc. - Class A (a)		11,500		594,550
Comcast Corp. - Class A		16,600		567,222
CTS Eventim AG & Co. KGaA		8,330		390,874
Gannett Co., Inc.		18,487		184,500
Mediaset Espana Comunicacion S.A.		34,052		346,603
Metropole Television S.A.		12,456		320,928
Omnicom Group, Inc. (b)		18,400		1,337,128
ProSiebenSat.1 Media SE		21,641		750,594
Publicis Groupe S.A.		14,087		981,505
RTL Group S.A.		5,862		486,860
Sinclair Broadcast Group, Inc. - Class A		5,500		172,150
SKY Network Television, Ltd.		27,790		46,169
Toei Co., Ltd.		900		96,124
Viacom, Inc. - Class B		37,600		1,167,856
Walt Disney Co. (The)		32,600		3,274,344
WPP plc		101,964		1,620,616
				12,338,023
Metals & Mining—0.7%
Acacia Mining plc (b)		63,155		126,678
Alacer Gold Corp. (a) (b)		53,400		84,969
Anglo American plc		71,355		1,667,004
APERAM S.A.		1,936		92,642
Argonaut Gold, Inc. (a) (b)		45,200		86,306
BHP Billiton plc		58,928		1,162,417
BHP Billiton, Ltd.		8,345		184,594
Centamin plc		83,420		180,786
Centerra Gold, Inc. (a)		23,200		133,076
Eldorado Gold Corp. (a)		39,900		33,448
Ferrexpo plc		23,500		80,662
Fortescue Metals Group, Ltd.		93,344		312,432
Goldcorp, Inc.		22,700		313,450
Highland Gold Mining, Ltd.		5,802		12,483
OZ Minerals, Ltd.		19,500		135,374
Perseus Mining, Ltd. (a)		275,211		99,498

BHFTI-342

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Metals & Mining—(Continued)
Rio Tinto plc		29,457	$	1,495,586
Rio Tinto, Ltd.		13,128		737,871
Tahoe Resources, Inc.		62,400		293,026
Teck Resources, Ltd. - Class B		6,400		164,825
Troy Resources, Ltd. (a)		2,277		157
Yamana Gold, Inc.		70,300		194,255
Yamato Kogyo Co., Ltd.		3,600		99,341
				7,690,880
Multiline Retail—0.3%
Kohl’s Corp. (b)		8,400		550,284
Macy’s, Inc.		22,000		654,280
Next plc		12,089		807,961
Target Corp.		17,300		1,201,139
				3,213,664
Oil, Gas & Consumable Fuels—2.1%
Antero Resources Corp. (a)		13,000		258,050
Athabasca Oil Corp. (a) (b)		111,300		102,804
Baytex Energy Corp. (a)		83,800		229,607
Birchcliff Energy, Ltd.		32,200		93,225
Bonavista Energy Corp.		107,900		98,826
Cairn Energy plc (a)		17,935		51,911
Cardinal Energy, Ltd. (b)		4,610		15,565
Cenovus Energy, Inc.		64,500		549,202
Chevron Corp.		13,681		1,560,181
China Petroleum & Chemical Corp. - Class H		374,000		331,617
Crescent Point Energy Corp.		32,800		223,020
Crew Energy, Inc. (a) (b)		59,300		86,993
Enagas S.A.		8,863		242,580
Eni S.p.A.		48,780		859,890
Exxon Mobil Corp.		61,300		4,573,593
Galp Energia SGPS S.A.		7,585		143,071
Gener8 Maritime, Inc. (a)		22,100		124,865
Gran Tierra Energy, Inc. (a) (b)		28,600		79,794
Husky Energy, Inc.		24,000		343,509
Imperial Oil, Ltd.		53,800		1,424,812
Inpex Corp.		50,900		635,233
International Seaways, Inc. (a)		12,500		220,000
Japan Petroleum Exploration Co., Ltd.		8,200		187,453
JXTG Holdings, Inc.		41,500		253,504
Marathon Oil Corp.		36,300		585,519
MEG Energy Corp. (a)		65,500		231,323
Murphy Oil Corp. (b)		13,400		346,256
NovaTek OAO (GDR)		2,404		329,348
Obsidian Energy, Ltd. (a)		82,900		83,006
OMV AG		11,141		649,643
Pengrowth Energy Corp. (a) (b)		124,100		79,950
Polski Koncern Naftowy ORLEN S.A.		10,861		267,429
QEP Resources, Inc. (a)		17,900		175,241
Renewable Energy Group, Inc. (a) (b)		8,200		104,960
Repsol S.A.		45,618		810,479
Royal Dutch Shell plc - A Shares		19,503		611,999
Royal Dutch Shell plc - B Shares		8,292		267,209
Santos, Ltd. (a)		59,168		232,526
Scorpio Tankers, Inc.		21,600		42,336
Oil, Gas & Consumable Fuels—(Continued)
SK Innovation Co., Ltd.		1,179		233,579
Snam S.p.A.		144,146		663,071
Surge Energy, Inc.		69,900		106,883
Tatneft PJSC (ADR)		7,655		491,681
Tethys Oil AB		6,434		51,833
Total Gabon		33		5,977
Total S.A.		52,014		2,956,145
Tourmaline Oil Corp.		11,100		188,252
United Tractors Tbk PT		47,700		111,306
Valero Energy Corp.		9,100		844,207
Whiting Petroleum Corp. (a) (b)		11,349		384,050
Woodside Petroleum, Ltd.		61,690		1,393,742
				24,937,255
Paper & Forest Products—0.1%
Norbord, Inc.		6,700		242,913
UPM-Kymmene Oyj		32,281		1,197,907
West Fraser Timber Co., Ltd.		3,700		245,862
				1,686,682
Personal Products—0.5%
Edgewell Personal Care Co. (a) (b)		9,100		444,262
Unilever NV		40,145		2,269,334
Unilever plc		42,038		2,335,914
USANA Health Sciences, Inc. (a)		5,000		429,500
				5,479,010
Pharmaceuticals—2.7%
Astellas Pharma, Inc.		127,000		1,950,299
Eli Lilly & Co.		34,100		2,638,317
GlaxoSmithKline plc		103,017		2,001,411
Indivior plc (a)		59,494		340,519
Jazz Pharmaceuticals plc (a)		4,900		739,851
Johnson & Johnson		42,100		5,395,115
Kaken Pharmaceutical Co., Ltd.		5,300		313,030
Mallinckrodt plc (a)		13,400		194,032
Merck & Co., Inc.		57,700		3,142,919
Mylan NV (a)		30,800		1,268,036
Novartis AG		39,619		3,205,258
Novo Nordisk A/S - Class B		4,942		243,168
Pfizer, Inc.		112,800		4,003,272
Recordati S.p.A.		11,037		408,979
Roche Holding AG		15,278		3,504,160
Sanofi		24,437		1,963,640
Taro Pharmaceutical Industries, Ltd. (a) (b)		126		12,441
Valeant Pharmaceuticals International, Inc. (a)		12,500		198,995
				31,523,442
Professional Services—0.3%
Dun & Bradstreet Corp. (The)		5,500		643,500
en-japan, Inc.		4,200		239,238
Intertek Group plc		9,704		635,175
RELX NV		57,601		1,194,991
Seek, Ltd.		17,813		256,315
				2,969,219

BHFTI-343

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Real Estate Management & Development—0.2%
CK Asset Holdings, Ltd.		72,000	$	609,272
Daiwa House Industry Co., Ltd.		14,100		542,711
Deutsche Euroshop AG		8,560		313,837
Sino Land Co., Ltd.		88,000		143,197
Sun Hung Kai Properties, Ltd.		8,000		127,439
Swire Pacific, Ltd. - Class A		28,500		289,170
Wharf Holdings, Ltd. (The)		52,000		180,139
Wharf Real Estate Investment Co., Ltd. (a)		52,000		340,426
				2,546,191
Road & Rail—0.4%
Canadian National Railway Co.		21,700		1,585,960
Central Japan Railway Co.		10,100		1,924,709
Norfolk Southern Corp.		12,800		1,737,984
				5,248,653
Semiconductors & Semiconductor Equipment—1.2%
Applied Materials, Inc.		22,000		1,223,420
Intel Corp.		81,200		4,228,896
KLA-Tencor Corp.		5,800		632,258
Lam Research Corp.		4,000		812,640
Maxim Integrated Products, Inc.		18,800		1,132,136
Melexis NV		1,270		126,640
Micron Technology, Inc. (a)		24,500		1,277,430
NVIDIA Corp.		2,600		602,134
QUALCOMM, Inc.		18,400		1,019,544
SK Hynix, Inc.		7,438		569,616
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		16,000		700,160
Texas Instruments, Inc.		3,900		405,054
Ulvac, Inc.		2,100		119,633
Xilinx, Inc.		14,500		1,047,480
				13,897,041
Software—1.3%
Adobe Systems, Inc. (a)		1,100		237,688
Check Point Software Technologies, Ltd. (a)		14,700		1,460,298
Intuit, Inc.		3,000		520,050
Microsoft Corp.		80,300		7,328,981
Nexon Co., Ltd. (a)		32,400		549,631
Oracle Corp.		69,400		3,175,050
SAP SE		17,169		1,796,668
VMware, Inc. - Class A (a) (b)		5,900		715,493
				15,783,859
Specialty Retail—0.7%
ABC-Mart, Inc.		7,600		499,716
AutoZone, Inc. (a)		1,700		1,102,773
Bed Bath & Beyond, Inc.		29,100		610,809
Buckle, Inc. (The) (b)		8,605		190,601
Cato Corp. (The) - Class A		3,700		54,538
Chico’s FAS, Inc.		45,100		407,704
Dick’s Sporting Goods, Inc.		4,931		172,831
DSW, Inc. - Class A		15,000		336,900
Foot Locker, Inc.		7,900		359,766
Gap, Inc. (The)		21,300		664,560
Specialty Retail—(Continued)
Home Depot, Inc. (The)		4,800		855,552
Lowe’s Cos., Inc.		11,700		1,026,675
Sally Beauty Holdings, Inc. (a) (b)		21,476		353,280
Signet Jewelers, Ltd.		10,900		419,868
Truworths International, Ltd. (b)		25,029		229,349
USS Co., Ltd.		9,700		198,746
Williams-Sonoma, Inc. (b)		7,200		379,872
				7,863,540
Technology Hardware, Storage & Peripherals—1.2%
Apple, Inc.		48,400		8,120,552
Catcher Technology Co., Ltd.		49,000		614,111
Hewlett Packard Enterprise Co.		34,900		612,146
HP, Inc.		84,300		1,847,856
Neopost S.A.		9,573		252,407
NetApp, Inc.		4,900		302,281
Samsung Electronics Co., Ltd.		285		664,152
Western Digital Corp.		12,600		1,162,602
				13,576,107
Textiles, Apparel & Luxury Goods—0.3%
Bijou Brigitte AG		106		5,965
Burberry Group plc		38,187		909,391
Carter’s, Inc.		3,500		364,350
Michael Kors Holdings, Ltd. (a)		5,100		316,608
Moncler S.p.A.		27,071		1,032,281
Pandora A/S (b)		7,556		819,052
Van de Velde NV		570		26,655
				3,474,302
Thrifts & Mortgage Finance—0.0%
Genworth MI Canada, Inc. (b)		17,400		553,732
Tobacco—0.7%
Altria Group, Inc.		24,100		1,501,912
British American Tobacco plc		31,568		1,832,559
Imperial Brands plc		36,532		1,244,952
KT&G Corp.		505		47,335
Philip Morris International, Inc.		28,800		2,862,720
Scandinavian Tobacco Group A/S		4,523		79,631
Swedish Match AB		10,869		494,119
				8,063,228
Trading Companies & Distributors—0.3%
ITOCHU Corp.		77,300		1,505,144
Kanamoto Co., Ltd.		2,400		81,228
Marubeni Corp.		32,300		235,184
Mitsubishi Corp.		21,900		589,107
Mitsui & Co., Ltd.		47,000		806,813
Sumitomo Corp.		19,300		323,205
Wakita & Co., Ltd.		17,200		190,707
				3,731,388
Transportation Infrastructure—0.0%
ASTM S.p.A.		7,020		177,342

BHFTI-344

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Transportation Infrastructure—(Continued)
Societa Iniziative Autostradali e Servizi S.p.A.		7,249	$	135,411
TAV Havalimanlari Holding A/S		29,069		174,410
				487,163
Water Utilities—0.0%
Cia de Saneamento Basico do Estado de Sao Paulo (ADR)		16,700		176,853
Guangdong Investment, Ltd.		122,000		193,271
				370,124
Wireless Telecommunication Services—0.5%
China Mobile, Ltd.		27,500		251,613
KDDI Corp.		93,300		2,396,064
NTT DoCoMo, Inc.		85,700		2,181,881
SK Telecom Co., Ltd.		2,296		496,662
Vodacom Group, Ltd.		21,666		280,370
				5,606,590
Total Common Stocks (Cost $388,436,261)				407,021,885
Corporate Bonds & Notes—32.7%
Agriculture—0.7%
BAT Capital Corp.
3.222%, 08/15/24 (144A)		7,210,000		6,951,334
Bunge, Ltd. Finance Corp.
3.000%, 09/25/22		820,000		792,873
				7,744,207
Auto Manufacturers—0.2%
General Motors Financial Co., Inc.
4.375%, 09/25/21		2,150,000		2,209,963
Banks—10.9%
Banco Santander S.A.
3.125%, 02/23/23		3,600,000		3,488,815
Bank of America Corp.
3.004%, 3M LIBOR + 0.790%, 12/20/23 (144A) (c)		1,134,000		1,112,292
3.300%, 01/11/23		1,410,000		1,405,879
3.366%, 3M LIBOR + 0.810%, 01/23/26 (c)		2,730,000		2,655,736
3.705%, 3M LIBOR + 1.512%, 04/24/28 (c)		4,130,000		4,061,071
4.443%, 3M LIBOR + 1.990%, 01/20/48 (c)		2,010,000		2,098,339
Bank of Nova Scotia (The)
4.650%, 10/12/22		1,185,000		1,118,344
Banque Federative du Credit Mutuel S.A.
2.700%, 07/20/22 (144A)		3,159,000		3,076,924
Barclays Bank plc
5.140%, 10/14/20		940,000		970,744
10.179%, 06/12/21 (144A)		625,000		733,623
BB&T Corp.
2.695%, 3M LIBOR + 0.570%, 06/15/20 (c)		4,615,000		4,634,494
2.850%, 10/26/24		8,730,000		8,376,928
BNP Paribas S.A.
3.375%, 01/09/25 (144A)		885,000		856,050
Banks—(Continued)
BPCE S.A.
3.000%, 05/22/22 (144A)		3,465,000		3,393,746
Capital One Financial Corp.
3.050%, 03/09/22		3,330,000		3,265,637
3.200%, 02/05/25		970,000		930,345
Capital One N.A.
2.950%, 07/23/21		860,000		847,290
Citigroup, Inc.
3.300%, 04/27/25		2,775,000		2,693,744
3.887%, 3M LIBOR + 1.563%, 01/10/28 (c)		6,000,000		5,967,516
Cooperatieve Rabobank UA
3.875%, 02/08/22		700,000		713,765
11.000%, 3M LIBOR + 10.868%, 06/30/19 (144A) (c)		2,315,000		2,531,476
Credit Suisse Group AG
2.997%, 12/14/23 (144A)		3,315,000		3,213,894
3.574%, 01/09/23 (144A)		1,410,000		1,401,653
Danske Bank A/S
2.800%, 03/10/21 (144A)		3,275,000		3,233,428
Deutsche Bank AG
3.950%, 02/27/23		2,380,000		2,373,242
Discover Bank
3.200%, 08/09/21		1,000,000		987,535
Fifth Third Bank
2.882%, 3M LIBOR + 0.590%, 09/27/19 (c)		1,540,000		1,546,936
3.850%, 03/15/26		1,435,000		1,417,837
First Republic Bank
4.625%, 02/13/47		1,945,000		1,998,625
Goldman Sachs Group, Inc. (The)
2.875%, 02/25/21		194,000		192,016
2.905%, 3M LIBOR + 0.990%, 07/24/23 (c)		2,080,000		2,022,856
3.272%, 3M LIBOR + 1.201%, 09/29/25 (c)		1,355,000		1,304,392
3.625%, 01/22/23		3,440,000		3,451,879
3.750%, 05/22/25		570,000		564,228
5.250%, 07/27/21		1,460,000		1,546,335
5.750%, 01/24/22		2,000,000		2,164,111
HSBC Holdings plc
2.650%, 01/05/22		1,885,000		1,832,762
4.875%, 01/14/22		1,555,000		1,634,292
ING Bank NV
2.750%, 03/22/21 (144A)		400,000		395,161
ING Groep NV
3.150%, 03/29/22 (b)		670,000		660,926
JPMorgan Chase & Co.
2.972%, 01/15/23		875,000		858,258
M&T Bank Corp.
5.125%, 3M LIBOR + 3.520%, 11/01/26 (c)		1,799,000		1,794,502
Manufacturers & Traders Trust Co.
3.400%, 08/17/27		3,771,000		3,666,042
Morgan Stanley
3.750%, 02/25/23		1,140,000		1,152,075
3.875%, 01/27/26		6,102,000		6,096,696
4.000%, 07/23/25		785,000		792,309
PNC Bank N.A.
2.950%, 02/23/25		2,425,000		2,328,760
3.100%, 10/25/27		4,100,000		3,909,687
3.250%, 06/01/25		1,290,000		1,262,382

BHFTI-345

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Banks—(Continued)
Regions Bank
2.750%, 04/01/21		3,365,000	$	3,323,769
Royal Bank of Scotland Group plc
3.875%, 09/12/23		2,415,000		2,384,959
Standard Chartered plc
3.885%, 3M LIBOR + 1.08%, 03/15/24 (144A) (c)		5,165,000		5,131,272
SunTrust Banks, Inc.
2.700%, 01/27/22		1,690,000		1,652,797
UBS Group Funding Switzerland AG
3.491%, 05/23/23 (144A)		961,000		949,435
4.125%, 09/24/25 (144A)		3,210,000		3,227,825
Wells Fargo & Co.
3.000%, 10/23/26		1,970,000		1,844,817
				127,250,451
Beverages—0.2%
Anheuser-Busch InBev Worldwide, Inc.
3.052%, 3M LIBOR + 0.740%, 01/12/24 (c)		925,000		930,439
4.375%, 04/15/38		1,390,000		1,418,172
				2,348,611
Biotechnology—0.2%
Amgen, Inc.
2.650%, 05/11/22		310,000		302,474
3.875%, 11/15/21		955,000		975,906
5.750%, 03/15/40		605,000		726,513
				2,004,893
Building Materials—0.5%
Boral Finance Pty, Ltd.
3.000%, 11/01/22 (144A)		3,495,000		3,413,721
Johnson Controls International plc
3.750%, 12/01/21		660,000		670,789
4.500%, 02/15/47		215,000		217,965
Martin Marietta Materials, Inc.
2.702%, 3M LIBOR + 0.500%, 12/20/19 (c)		1,500,000		1,502,288
				5,804,763
Chemicals—0.5%
Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. L.P.
2.450%, 05/01/20 (144A)		500,000		495,453
Mosaic Co. (The)
3.250%, 11/15/22		705,000		690,242
Sherwin-Williams Co. (The)
3.450%, 06/01/27		4,505,000		4,308,778
				5,494,473
Commercial Services—0.1%
Moody’s Corp.
2.750%, 12/15/21		1,240,000		1,217,485
Computers—0.3%
Hewlett Packard Enterprise Co.
3.600%, 10/15/20		3,985,000		4,021,867
Diversified Financial Services—0.2%
Capital One Bank USA N.A.
3.375%, 02/15/23		1,225,000		1,193,763
High Street Funding Trust II
4.682%, 02/15/48 (144A)		825,000		852,473
				2,046,236
Electric—1.0%
Berkshire Hathaway Energy Co.
6.500%, 09/15/37		345,000		455,000
Duke Energy Carolinas LLC
4.300%, 06/15/20		540,000		554,530
Duke Energy Florida LLC
6.400%, 06/15/38		1,925,000		2,559,434
Duke Energy Ohio, Inc.
3.700%, 06/15/46		660,000		631,570
Electricite de France S.A.
6.500%, 01/26/19 (144A)		180,000		185,018
PPL Electric Utilities Corp.
4.750%, 07/15/43		625,000		710,547
Public Service Co. of Colorado
4.750%, 08/15/41		1,065,000		1,180,839
Sempra Energy
3.400%, 02/01/28		1,375,000		1,318,986
3.800%, 02/01/38		2,370,000		2,224,165
Southern California Edison Co.
4.500%, 09/01/40		1,025,000		1,092,757
5.500%, 03/15/40		335,000		406,713
				11,319,559
Electrical Components & Equipment—0.1%
Hubbell, Inc.
3.500%, 02/15/28		1,190,000		1,161,868
Electronics—0.2%
Amphenol Corp.
3.200%, 04/01/24		1,001,000		974,057
Fortive Corp.
2.350%, 06/15/21		870,000		845,807
Keysight Technologies, Inc.
4.600%, 04/06/27		990,000		1,019,480
				2,839,344
Food—0.5%
Campbell Soup Co.
3.650%, 03/15/23		1,765,000		1,766,292
Kroger Co. (The)
4.450%, 02/01/47		2,160,000		2,042,173
5.000%, 04/15/42		260,000		262,711
5.150%, 08/01/43		740,000		759,513

BHFTI-346

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Food—(Continued)
Tyson Foods, Inc.
3.550%, 06/02/27		1,721,000	$	1,656,327
				6,487,016
Gas—0.0%
NiSource, Inc.
4.800%, 02/15/44		230,000		243,800
Healthcare-Products—0.6%
Abbott Laboratories
4.750%, 11/30/36		3,180,000		3,431,655
Becton Dickinson and Co.
3.363%, 06/06/24		3,890,000		3,744,120
				7,175,775
Healthcare-Services—0.3%
Aetna, Inc.
2.800%, 06/15/23		738,000		709,105
UnitedHealth Group, Inc.
1.700%, 02/15/19		2,435,000		2,415,746
				3,124,851
Housewares—0.5%
Newell Brands, Inc.
3.850%, 04/01/23		2,461,000		2,456,210
4.200%, 04/01/26 (b)		3,114,000		3,082,908
				5,539,118
Insurance—1.6%
Aflac, Inc.
4.000%, 10/15/46		930,000		906,789
Allstate Corp. (The)
2.732%, 3M LIBOR + 0.430%, 03/29/21 (c)		515,000		515,728
Berkshire Hathaway Finance Corp.
4.400%, 05/15/42		425,000		451,377
Hartford Financial Services Group, Inc. (The)
6.625%, 03/30/40		945,000		1,221,258
Liberty Mutual Group, Inc.
5.000%, 06/01/21 (144A)		120,000		126,173
Manulife Financial Corp.
4.061%, 5Y USD Swap + 1.647%, 02/24/32 (c)		970,000		947,162
Markel Corp.
3.500%, 11/01/27		1,500,000		1,431,292
Metropolitan Life Global Funding I
2.650%, 04/08/22 (144A)		1,455,000		1,427,539
Progressive Corp. (The)
5.375%, 3M LIBOR + 2.539%, 03/15/23 (c)		2,965,000		2,998,356
Prudential Financial, Inc.
4.500%, 09/15/47 (b)		6,914,000		6,589,042
Swiss Re Treasury U.S. Corp.
4.250%, 12/06/42 (144A)		415,000		424,290
Voya Financial, Inc.
4.700%, 3M LIBOR + 2.084%, 01/23/48 (144A) (c)		2,340,000		2,129,843
				19,168,849
Internet—0.2%
Amazon.com, Inc.
2.800%, 08/22/24 (144A)		2,700,000		2,619,821
Machinery-Diversified—0.1%
Roper Technologies, Inc.
2.800%, 12/15/21		705,000		693,512
Media—0.6%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
4.908%, 07/23/25		1,605,000		1,640,159
Comcast Corp.
2.350%, 01/15/27		765,000		686,823
COX Communications, Inc.
3.150%, 08/15/24 (144A)		2,810,000		2,694,836
4.600%, 08/15/47 (144A)		2,190,000		2,095,392
				7,117,210
Mining—0.7%
Anglo American Capital plc
4.500%, 03/15/28 (144A)		1,735,000		1,731,215
Barrick North America Finance LLC
5.750%, 05/01/43		2,995,000		3,487,581
BHP Billiton Finance USA, Ltd.
5.000%, 09/30/43		585,000		675,792
Glencore Funding LLC
4.125%, 05/30/23 (144A)		2,060,000		2,073,431
				7,968,019
Miscellaneous Manufacturing—0.4%
General Electric Co.
5.000%, 3M LIBOR + 3.330%, 01/21/21 (b) (c)		820,000		811,800
Hexcel Corp.
3.950%, 02/15/27		1,382,000		1,371,944
Ingersoll-Rand Global Holding Co., Ltd.
2.900%, 02/21/21		1,505,000		1,501,202
Siemens Financieringsmaatschappij NV
2.700%, 03/16/22 (144A)		1,530,000		1,505,217
				5,190,163
Multi-National—0.1%
FMS Wertmanagement AoeR
1.625%, 11/20/18		1,215,000		1,209,480
Oil & Gas—2.8%
Anadarko Petroleum Corp.
3.450%, 07/15/24		1,000,000		970,841
4.850%, 03/15/21		485,000		504,030
5.550%, 03/15/26		2,014,000		2,198,580
Andeavor
3.800%, 04/01/28		1,065,000		1,015,939
4.500%, 04/01/48		1,245,000		1,164,699
Canadian Natural Resources, Ltd.
3.850%, 06/01/27		3,200,000		3,129,215

BHFTI-347

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Oil & Gas—(Continued)
Cenovus Energy, Inc.
4.250%, 04/15/27 (b)		1,637,000	$	1,595,656
5.400%, 06/15/47 (b)		2,290,000		2,304,979
Concho Resources, Inc.
3.750%, 10/01/27		2,515,000		2,459,140
Devon Energy Corp.
3.250%, 05/15/22		2,510,000		2,479,717
5.000%, 06/15/45		1,000,000		1,062,828
5.850%, 12/15/25		1,120,000		1,272,108
EQT Corp.
3.900%, 10/01/27		6,860,000		6,562,631
Marathon Petroleum Corp.
5.125%, 03/01/21		830,000		876,301
Nabors Industries, Inc.
5.500%, 01/15/23 (b)		905,000		884,737
Noble Energy, Inc.
3.850%, 01/15/28 (b)		1,255,000		1,233,961
5.050%, 11/15/44		1,030,000		1,076,641
6.000%, 03/01/41		350,000		400,725
Valero Energy Corp.
6.625%, 06/15/37		905,000		1,142,675
9.375%, 03/15/19		343,000		363,668
				32,699,071
Packaging & Containers—0.1%
Packaging Corp. of America
2.450%, 12/15/20		1,020,000		1,003,886
Pharmaceuticals—1.5%
AbbVie, Inc.
2.900%, 11/06/22		2,000,000		1,953,640
AmerisourceBergen Corp.
4.250%, 03/01/45		560,000		526,122
Cardinal Health, Inc.
3.079%, 06/15/24		950,000		906,316
CVS Health Corp.
3.875%, 07/20/25		1,189,000		1,178,677
5.050%, 03/25/48		2,670,000		2,808,271
EMD Finance LLC
2.400%, 03/19/20 (144A)		1,422,000		1,406,528
2.950%, 03/19/22 (144A)		1,168,000		1,150,188
Mylan, Inc.
4.550%, 04/15/28 (144A)		2,025,000		2,028,293
Shire Acquisitions Investments Ireland DAC
2.400%, 09/23/21		3,910,000		3,775,191
Teva Pharmaceutical Finance Netherlands B.V.
2.200%, 07/21/21		1,765,000		1,589,386
				17,322,612
Pipelines—1.9%
Enbridge, Inc.
6.000%, 3M LIBOR + 3.890%, 01/15/77 (c)		3,045,000		2,999,325
Energy Transfer Partners L.P.
4.050%, 03/15/25		2,257,000		2,213,551
5.150%, 02/01/43		1,200,000		1,095,803
Pipelines—(Continued)
Enterprise Products Operating LLC
5.375%, 3M LIBOR + 2.57%, 02/15/78 (c)		1,565,000		1,498,923
Fermaca Enterprises S de RL de C.V.
6.375%, 03/30/38 (144A)		439,367		473,418
MPLX L.P.
4.500%, 04/15/38		4,835,000		4,773,733
ONEOK Partners L.P.
3.375%, 10/01/22		857,000		843,530
8.625%, 03/01/19		145,000		152,221
Sabine Pass Liquefaction LLC
4.200%, 03/15/28		4,000,000		3,941,824
5.625%, 03/01/25		820,000		882,191
Williams Partners L.P.
4.000%, 09/15/25		2,605,000		2,563,099
4.850%, 03/01/48		715,000		707,762
5.400%, 03/04/44		555,000		581,426
				22,726,806
Real Estate Investment Trusts—2.2%
Alexandria Real Estate Equities, Inc.
4.500%, 07/30/29		540,000		547,340
American Campus Communities Operating Partnership L.P.
3.750%, 04/15/23		444,000		443,899
American Tower Corp.
3.375%, 10/15/26		6,435,000		6,021,161
Boston Properties L.P.
3.200%, 01/15/25		1,853,000		1,788,714
CBL & Associates L.P.
4.600%, 10/15/24		822,000		674,266
5.950%, 12/15/26 (b)		367,000		308,827
Crown Castle International Corp.
3.200%, 09/01/24		2,235,000		2,142,901
3.700%, 06/15/26		2,555,000		2,458,824
Digital Realty Trust L.P.
3.700%, 08/15/27		5,345,000		5,150,626
Duke Realty L.P.
3.375%, 12/15/27		1,095,000		1,043,285
Ventas Realty L.P.
3.125%, 06/15/23		1,865,000		1,826,977
3.500%, 02/01/25		1,740,000		1,694,245
Vornado Realty L.P.
3.500%, 01/15/25		2,095,000		2,017,099
				26,118,164
Retail—0.5%
Home Depot, Inc. (The)
4.250%, 04/01/46		350,000		366,034
4.400%, 04/01/21		700,000		727,369
5.950%, 04/01/41		990,000		1,266,865
McDonald’s Corp.
3.500%, 07/15/20		466,000		473,189
Target Corp.
2.500%, 04/15/26 (b)		1,675,000		1,556,315
Walmart, Inc.
3.625%, 12/15/47		964,000		943,185
				5,332,957

BHFTI-348

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Shares/ Principal Amount*		Value
Semiconductors—0.4%
Analog Devices, Inc.
2.950%, 01/12/21		2,580,000	$	2,571,481
3.125%, 12/05/23		2,355,000		2,306,404
				4,877,885
Software—0.2%
Microsoft Corp.
4.100%, 02/06/37		2,505,000		2,656,257
Telecommunications—2.2%
AT&T, Inc.
4.300%, 02/15/30 (144A)		1,990,000		1,978,633
4.500%, 03/09/48		1,075,000		999,142
4.900%, 08/14/37 (b)		4,235,000		4,258,913
5.150%, 03/15/42		2,258,000		2,326,337
Deutsche Telekom International Finance B.V.
2.628%, 3M LIBOR + 0.450%, 09/19/19 (144A) (c)		1,915,000		1,917,777
Motorola Solutions, Inc.
4.600%, 02/23/28		4,035,000		4,061,602
Telefonica Emisiones S.A.U.
4.665%, 03/06/38		250,000		252,878
5.213%, 03/08/47		1,770,000		1,881,110
Verizon Communications, Inc.
3.376%, 02/15/25		3,151,000		3,097,165
4.272%, 01/15/36		5,250,000		5,025,637
				25,799,194
Transportation—0.2%
Kansas City Southern de Mexico S.A. de C.V.
3.000%, 05/15/23		470,000		455,669
Norfolk Southern Corp.
3.150%, 06/01/27		1,000,000		952,176
Union Pacific Corp.
3.646%, 02/15/24		360,000		367,493
3.799%, 10/01/51		835,000		796,133
				2,571,471
Total Corporate Bonds & Notes (Cost $389,313,750)				383,109,637
Mutual Fund—2.1%
Investment Company Security—2.1%
iShares Core S&P 500 ETF (b) (Cost $16,173,351)		92,287		24,490,201
U.S. Treasury & Government Agencies—1.2%
U.S. Treasury—1.2%
U.S. Treasury Inflation Indexed Notes
0.625%, 01/15/26 (d)		12,461,525		12,459,677
U.S. Treasury—(Continued)
U.S. Treasury Notes
2.250%, 11/15/27 (b)		1,645,000		1,575,730
Total U.S. Treasury & Government Agencies (Cost $14,195,620)				14,035,407
Mortgage-Backed Securities—0.7%
Collateralized Mortgage Obligations—0.5%
Flagstar Mortgage Trust
3.500%, 10/25/47 (144A) (c)		3,184,843		3,179,368
JP Morgan Mortgage Trust
3.500%, 11/25/48 (144A) (c)		3,422,104		3,422,638
				6,602,006
Commercial Mortgage-Backed Securities—0.2%
Worldwide Plaza Trust
3.526%, 11/10/36 (144A)		2,145,000		2,142,948
Total Mortgage-Backed Securities (Cost $8,929,821)				8,744,954
Asset-Backed Securities—0.7%
Asset-Backed - Other—0.7%
Towd Point Mortgage Trust
2.750%, 10/25/56 (144A) (c)		2,774,715		2,743,547
2.750%, 10/25/57 (144A) (c)		5,014,887		4,941,725
Total Asset-Backed Securities (Cost $7,819,806)				7,685,272
Preferred Stock—0.0%
Auto Components—0.0%
Schaeffler AG (Cost $574,175)		36,450		562,838
Short-Term Investment—24.8%
Repurchase Agreement—24.8%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $290,539,359; collateralized by a U.S. Treasury Note at 1.875%, maturing 02/28/22, with a market value of $296,335,249.		290,519,991		290,519,991
Total Short-Term Investments (Cost $290,519,991)				290,519,991

BHFTI-349

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (e)—3.2%

Security Description	Principal Amount*		Value
Certificates of Deposit—2.0%
Bank of Nova Scotia
2.482%, 3M LIBOR + 0.280%, 03/20/19 (c)		1,000,000	$	999,564
Barclays Capital, plc
1.956%, 1M LIBOR + 0.270%, 08/03/18 (c)		2,000,000		1,999,852
BNP Paribas New York
1.886%, 1M LIBOR + 0.200%, 05/04/18 (c)		1,000,000		1,000,024
China Construction Bank
1.950%, 04/20/18		1,000,000		999,896
Citigroup Global Markets, Ltd.
2.070%, 1M LIBOR + 0.330%, 09/12/18 (c)		1,000,000		999,825
Cooperative Rabobank UA
1.860%, 3M LIBOR + 0.140%, 10/16/18 (c)		1,750,000		1,750,000
Credit Suisse AG New York
1.976%, 1M LIBOR + 0.190%, 04/16/18 (c)		2,000,000		1,999,916
Mitsubishi UFJ Trust and Banking Corp.
1.886%, 1M LIBOR + 0.200%, 06/07/18 (c)		1,500,000		1,499,673
2.077%, 1M LIBOR + 0.200%, 05/30/18 (c)		1,000,000		999,834
Mizuho Bank, Ltd., New York
2.008%, 1M LIBOR + 0.200%, 04/18/18 (c)		1,500,000		1,499,979
Natixis New York
2.220%, 06/11/18		500,000		500,083
Norinchukin Bank New York
1.670%, 1M LIBOR + 0.300%, 09/04/18 (c)		1,000,000		999,394
Societe Generale
1.950%, 1M LIBOR + 0.210%, 07/10/18 (c)		500,000		499,958
Standard Chartered plc
2.250%, 08/21/18		1,000,000		999,580
Sumitomo Mitsui Banking Corp., London
2.071%, 1M LIBOR + 0.230%, 05/21/18 (c)		1,000,000		1,000,000
Sumitomo Mitsui Banking Corp., New York
1.920%, 1M LIBOR + 0.180%, 04/11/18 (c)		1,500,000		1,499,946
Wells Fargo Bank N.A.
1.835%, 3M LIBOR + 0.130%, 07/11/18 (c)		3,000,000		2,999,955
Westpac Banking Corp.
2.130%, FEDEFF PRV + 0.450%, 02/15/19 (c)		1,000,000		999,911
				23,247,390
Commercial Paper—0.7%
Canadian Imperial Bank of Commerce
2.208%, 1M LIBOR + 0.400%, 09/17/18 (c)		500,000		499,955
Danske Corp.
2.080%, 06/04/18		1,491,680		1,494,326
Industrial & Commercial Bank of China, Ltd.
1.960%, 04/20/18		996,788		998,924
LMA S.A. & LMA Americas
2.150%, 06/01/18		1,491,848		1,494,343
Macquarie Bank, Ltd., London
2.020%, 05/16/18		995,006		997,469
Oversea-Chinese Banking Corp., Ltd.
2.150%, 06/08/18		994,506		995,958
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (c)		1,500,000		1,499,784
				7,980,759
Repurchase Agreements—0.5%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $51,611; collateralized by various Common Stock with an aggregate market value of $55,000.		50,000		50,000
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $100,020; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $102,001.		100,000		100,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $100,477; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $111,071.		100,000		100,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $2,544,967; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,776,780.		2,500,000		2,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $215,221; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $219,484.		215,180		215,180
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $311,354; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $324,595.		300,000		300,000
Morgan Stanley & Co. LLC Repurchase Agreement dated 03/20/18 at 2.330%, due on 06/20/18 with a maturity value of $502,977; collateralized by various Common Stock with an aggregate market value of $550,177.		500,000		500,000
Societe Generale
Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $600,516; collateralized by various Common Stock with an aggregate market value of $667,034.		600,000		600,000
				5,365,180
Total Securities Lending Reinvestments (Cost $36,596,895)				36,593,329
Total Investments—100.1% (Cost $1,152,559,670)				1,172,763,514
Other assets and liabilities (net)—(0.1)%				(1,219,929	)
Net Assets—100.0%			$	1,171,543,585

BHFTI-350

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $34,146,158 and the collateral received consisted of cash in the amount of $36,585,007. The cash collateral investments are disclosed in the Consolidated Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Principal amount of security is adjusted for inflation.
(e)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $83,367,598, which is 7.1% of net assets.

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	13,614,000	MSIP		04/26/18		USD	10,525,201	$	(68,978	)
CAD	12,494,000	UBSA		04/26/18		USD	9,720,612		(18,353	)
CHF	196,095	JPMC		04/04/18		USD	205,033		88
CHF	367,795	JPMC		04/04/18		USD	384,558		165
CHF	2,910,000	UBSA		04/26/18		USD	3,077,766		(28,377	)
EUR	486,105	JPMC		04/04/18		USD	597,739		389
GBP	411,084	JPMC		04/04/18		USD	577,819		(1,068	)
IDR	334,703,000,000	UBSA		04/26/18		USD	24,299,623		(32,058	)
JPY	6,605,089,000	UBSA		04/26/18		USD	62,965,877		(810,324	)
Contracts to Deliver
CHF	44,266	JPMC		04/04/18		USD	46,292		(12	)
EUR	19,174	JPMC		04/04/18		USD	23,578		(15	)
EUR	7,006,000	JPMC		04/26/18		USD	8,668,853		34,849
GBP	21,405,000	MSIP		04/26/18		USD	30,332,490		273,225
MXN	455,900,000	UBSA		04/26/18		USD	24,170,289		(818,659	)
TRY	1,742,900	JPMC		04/26/18		USD	438,291		(293	)
ZAR	9,643,100	MSIP		04/26/18		USD	800,451		(11,528	)
Cross Currency Contracts to Buy
AUD	61,321,702	MSIP		04/26/18		NZD	65,359,000		(134,529	)
EUR	24,575,623	JPMC		04/26/18		PLN	104,452,000		(236,064	)
JPY	1,713,605,000	MSIP		04/26/18		EUR	13,204,104		(146,925	)
NZD	65,359,000	JPMC		04/26/18		AUD	61,639,663		(109,681	)
Net Unrealized Depreciation								$	(2,108,148	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Value			Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		06/15/18		392		AUD	50,809,825	$	258,510
Euro Stoxx 50 Index Futures		06/15/18		1,350		EUR	44,293,500		(931,931	)
FTSE 100 Index Futures		06/15/18		72		GBP	5,035,320		(128,912	)
MSCI Emerging Markets Index Mini Futures		06/15/18		294		USD	17,460,660		(181,648	)
Russell 2000 Index Mini Futures		06/15/18		459		USD	35,141,040		(935,386	)

BHFTI-351

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Futures Contracts—(Continued)

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
S&P 500 Index E-Mini Futures		06/15/18		825			USD	109,023,750		$	(3,908,876	)
S&P Financial Select Sector Index E-Mini Futures		06/15/18		486			USD	41,316,075			(1,771,972	)
TOPIX Index Futures		06/07/18		192			JPY	3,276,480,000			(3,478	)
U.S. Treasury Long Bond Futures		06/20/18		269			USD	39,442,125			1,183,714
U.S. Treasury Note 10 Year Futures		06/20/18		199			USD	24,106,984			173,763
U.S. Treasury Note 2 Year Futures		06/29/18		122			USD	25,938,344			12,921
U.S. Treasury Ultra Long Bond Futures		06/20/18		3			USD	481,406			20,028
Futures Contracts—Short
Canada Government Bond 10 Year Futures		06/20/18		(396	)		CAD	(52,774,920	)		(231,493	)
TOPIX Index Futures		06/07/18		(14	)		JPY	(238,910,000	)		(22,953	)
U.S. Treasury Note 10 Year Futures		06/20/18		(392	)		USD	(47,487,125	)		(372,813	)
U.S. Treasury Note 5 Year Futures		06/29/18		(113	)		USD	(12,934,086	)		(60,603	)
Net Unrealized Depreciation										$	(6,901,129	)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Notional Amount

Market Value

Upfront Premiums Paid

Unrealized Depreciation

Pay

3M LIBOR

Quarterly

2.855%

Quarterly

01/23/28

USD

364,000,000

$

3,025,932

$

21,754,012

$

(18,728,080

)

Glossary of Abbreviations

Counterparties

(JPMC)—	JPMorgan Chase Bank N.A.
(MSIP)—	Morgan Stanley & Co. International plc
(UBSA)—	UBS AG

Currencies

(AUD)—	Australian Dollar
(CAD)—	Canadian Dollar
(CHF)—	Swiss Franc
(EUR)—	Euro
(GBP)—	British Pound
(IDR)—	Indonesian Rupiah
(JPY)—	Japanese Yen
(MXN)—	Mexican Peso
(NZD)—	New Zealand Dollar
(PLN)—	Polish Zloty
(TRY)—	Turkish Lira
(USD)—	United States Dollar
(ZAR)—	South African Rand

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London Interbank Offered Rate

Other Abbreviations

(REIT)—	Real Estate Investment Trust
(ADR)—	American Depositary Receipt
(ETF)—	Exchange-Traded Fund
(GDR)—	Global Depositary Receipt

BHFTI-352

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	1,410,474	$	864,493	$	—	$	2,274,967
Air Freight & Logistics		—		397,126		—		397,126
Airlines		359,664		385,272		—		744,936
Auto Components		4,318,169		4,169,553		—		8,487,722
Automobiles		923,074		2,120,275		—		3,043,349
Banks		14,866,112		16,405,356		—		31,271,468
Beverages		665,815		2,150,477		—		2,816,292
Biotechnology		11,311,074		—		—		11,311,074
Building Products		597,030		515,537		—		1,112,567
Capital Markets		7,932,443		7,296,048		—		15,228,491
Chemicals		810,303		7,723,512		—		8,533,815
Commercial Services & Supplies		2,615,077		782,770		—		3,397,847
Communications Equipment		2,683,652		—		—		2,683,652
Construction & Engineering		—		1,941,849		—		1,941,849
Construction Materials		—		238,213		—		238,213
Consumer Finance		5,857,392		69,081		—		5,926,473
Distributors		—		137,431		—		137,431
Diversified Consumer Services		559,020		—		—		559,020
Diversified Financial Services		817,868		906,490		—		1,724,358
Diversified Telecommunication Services		3,754,557		8,176,357		—		11,930,914
Electric Utilities		366,053		1,096,297		—		1,462,350
Electrical Equipment		3,540,671		3,025,185		—		6,565,856
Electronic Equipment, Instruments & Components		685,206		581,798		—		1,267,004
Energy Equipment & Services		2,359,621		528,494		—		2,888,115
Equity Real Estate Investment Trusts		1,733,820		166,277		—		1,900,097
Food & Staples Retailing		2,825,069		—		—		2,825,069
Food Products		7,660,396		5,812,540		—		13,472,936
Health Care Equipment & Supplies		901,581		2,105,166		—		3,006,747
Health Care Providers & Services		8,672,357		198,290		—		8,870,647
Health Care Technology		580,000		100,880		—		680,880
Hotels, Restaurants & Leisure		—		152,440		—		152,440
Household Durables		2,135,814		1,836,072		—		3,971,886
Household Products		10,357,245		—		—		10,357,245
Industrial Conglomerates		4,018,781		1,343,928		—		5,362,709
Insurance		8,106,801		7,550,701		—		15,657,502
Internet & Direct Marketing Retail		4,631,488		—		—		4,631,488
Internet Software & Services		12,954,731		490,765		—		13,445,496
IT Services		12,525,964		225,842		—		12,751,806
Leisure Products		1,281,360		—		—		1,281,360
Life Sciences Tools & Services		755,767		—		—		755,767

BHFTI-353

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio

Consolidated Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Machinery	$	6,141,974		$	4,770,854		$	—	$	10,912,828
Media		7,297,750			5,040,273			—		12,338,023
Metals & Mining		1,303,355			6,387,525			—		7,690,880
Multiline Retail		2,405,703			807,961			—		3,213,664
Oil, Gas & Consumable Fuels		13,977,058			10,960,197			—		24,937,255
Paper & Forest Products		488,775			1,197,907			—		1,686,682
Personal Products		873,762			4,605,248			—		5,479,010
Pharmaceuticals		17,592,978			13,930,464			—		31,523,442
Professional Services		643,500			2,325,719			—		2,969,219
Real Estate Management & Development		—			2,546,191			—		2,546,191
Road & Rail		3,323,944			1,924,709			—		5,248,653
Semiconductors & Semiconductor Equipment		13,081,152			815,889			—		13,897,041
Software		13,437,560			2,346,299			—		15,783,859
Specialty Retail		6,935,729			927,811			—		7,863,540
Technology Hardware, Storage & Peripherals		12,045,437			1,530,670			—		13,576,107
Textiles, Apparel & Luxury Goods		680,958			2,793,344			—		3,474,302
Thrifts & Mortgage Finance		553,732			—			—		553,732
Tobacco		4,364,632			3,698,596			—		8,063,228
Trading Companies & Distributors		—			3,731,388			—		3,731,388
Transportation Infrastructure		—			487,163			—		487,163
Water Utilities		176,853			193,271			—		370,124
Wireless Telecommunication Services		—			5,606,590			—		5,606,590
Total Common Stocks		250,899,301			156,122,584			—		407,021,885
Total Corporate Bonds & Notes*		—			383,109,637			—		383,109,637
Total Mutual Fund*		24,490,201			—			—		24,490,201
Total U.S. Treasury & Government Agencies*		—			14,035,407			—		14,035,407
Total Mortgage-Backed Securities*		—			8,744,954			—		8,744,954
Total Asset-Backed Securities*		—			7,685,272			—		7,685,272
Total Preferred Stock*		—			562,838			—		562,838
Total Short-Term Investment*		—			290,519,991			—		290,519,991
Total Securities Lending Reinvestments*		—			36,593,329			—		36,593,329
Total Investments	$	275,389,502		$	897,374,012		$	—	$	1,172,763,514
Collateral for Securities Loaned (Liability)	$	—		$	(36,585,007	)	$	—	$	(36,585,007	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	308,716		$	—	$	308,716
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(2,416,864	)		—		(2,416,864	)
Total Forward Contracts	$	—		$	(2,108,148	)	$	—	$	(2,108,148	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,648,936		$	—		$	—	$	1,648,936
Futures Contracts (Unrealized Depreciation)		(8,550,065	)		—			—		(8,550,065	)
Total Futures Contracts	$	(6,901,129	)	$	—		$	—	$	(6,901,129	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—		$	(18,728,080	)	$	—	$	(18,728,080	)

* See Consolidated Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $424,379 were due to the application of a systematic fair valuation model factor.

BHFTI-354

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—34.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—0.2%
General Dynamics Corp.		7,400	$	1,634,660
Raytheon Co.		500		107,910
Triumph Group, Inc.		5,000		126,000
Ultra Electronics Holdings plc		4,849		94,182
				1,962,752
Air Freight & Logistics—0.0%
Royal Mail plc		40,960		311,043
Airlines—0.0%
Deutsche Lufthansa AG		4,463		142,564
JetBlue Airways Corp. (a)		13,500		274,320
				416,884
Auto Components—0.7%
BorgWarner, Inc.		10,500		527,415
Bridgestone Corp.		15,900		698,054
Cie Generale des Etablissements Michelin		2,127		314,400
Continental AG		1,716		474,002
Delphi Technologies plc		4,000		190,600
Gentex Corp.		21,800		501,836
Keihin Corp.		6,700		137,974
LCI Industries		700		72,905
Lear Corp.		4,400		818,796
Linamar Corp.		2,600		142,033
Magna International, Inc.		17,600		991,370
NHK Spring Co., Ltd.		19,700		211,700
NOK Corp.		7,100		139,197
Nokian Renkaat Oyj		12,421		564,985
Stanley Electric Co., Ltd.		6,900		260,153
Toyota Boshoku Corp.		9,100		189,052
Xinyi Glass Holdings, Ltd.		304,000		463,876
				6,698,348
Automobiles—0.3%
Ford Motor Co.		49,000		542,920
Isuzu Motors, Ltd.		8,900		136,633
Subaru Corp.		24,200		800,983
Suzuki Motor Corp.		12,800		694,850
Thor Industries, Inc.		1,400		161,238
				2,336,624
Banks—2.5%
Aozora Bank, Ltd.		8,900		356,507
Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand (ADR)		41,800		299,706
Bank Hapoalim B.M.		47,300		325,210
Bank Leumi Le-Israel B.M.		72		435
Bank of America Corp.		90,300		2,708,097
Bank of China, Ltd. - Class H		936,000		508,703
Bank of Ireland Group plc (a)		33,503		293,657
Barclays Africa Group, Ltd.		11,433		183,556
Barclays plc		384,245		1,122,175
BNP Paribas S.A.		22,045		1,634,536
Chiba Bank, Ltd. (The)		26,000		213,197
Banks—(Continued)
China Construction Bank Corp. - Class H		135,000		140,278
Citigroup, Inc.		15,500		1,046,250
Fifth Third Bancorp		17,270		548,322
HSBC Holdings plc		29,525		275,996
Japan Post Bank Co., Ltd.		58,100		789,872
JPMorgan Chase & Co.		36,600		4,024,902
Mediobanca S.p.A.		62,635		737,320
Mitsubishi UFJ Financial Group, Inc.		47,700		316,592
OTP Bank plc		9,789		441,244
Royal Bank of Scotland Group plc (a)		304,619		1,108,565
Seven Bank, Ltd.		56,600		181,847
Shinsei Bank, Ltd.		15,800		244,943
Shizuoka Bank, Ltd. (The)		13,000		125,713
Societe Generale S.A.		26,749		1,455,287
Standard Chartered plc		84,861		849,743
Wells Fargo & Co.		61,100		3,202,251
				23,134,904
Beverages—0.4%
Diageo plc		48,284		1,633,452
PepsiCo, Inc.		20,700		2,259,405
				3,892,857
Biotechnology—1.1%
AbbVie, Inc.		21,800		2,063,370
Amgen, Inc.		13,700		2,335,576
Biogen, Inc. (a)		6,800		1,861,976
Celgene Corp. (a)		12,300		1,097,283
Gilead Sciences, Inc.		23,400		1,764,126
United Therapeutics Corp. (a)		3,700		415,732
				9,538,063
Building Products—0.1%
Allegion plc		5,300		452,037
Asahi Glass Co., Ltd.		9,700		406,562
				858,599
Capital Markets—1.3%
Affiliated Managers Group, Inc.		4,000		758,320
Amundi S.A.		4,117		331,311
Ashmore Group plc		29,080		155,534
ASX, Ltd.		9,424		407,936
Bolsas y Mercados Espanoles SHMSF S.A.		6,876		232,904
BT Investment Management, Ltd.		20,159		157,064
CI Financial Corp.		15,800		338,480
Close Brothers Group plc		8,978		181,017
Daiwa Securities Group, Inc.		48,000		308,037
Deutsche Bank AG		43,037		600,075
Euronext NV		2,099		153,614
Federated Investors, Inc. - Class B		15,900		531,060
Franklin Resources, Inc.		32,800		1,137,504
Goldman Sachs Group, Inc. (The)		6,700		1,687,462
IG Group Holdings plc		22,732		254,742
IGM Financial, Inc.		10,200		298,237
Invesco, Ltd.		26,900		861,069

BHFTI-355

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Capital Markets—(Continued)
Japan Exchange Group, Inc.		20,900	$	390,885
Macquarie Group, Ltd.		21,318		1,700,812
Nomura Holdings, Inc.		137,200		798,786
Singapore Exchange, Ltd.		42,600		240,572
UBS Group AG (a)		18,240		321,173
Waddell & Reed Financial, Inc. - Class A		8,400		169,764
				12,016,358
Chemicals—0.7%
BASF SE		4,364		442,838
Covestro AG		15,432		1,518,996
Daicel Corp.		45,500		498,486
DIC Corp.		5,100		171,778
Ingevity Corp. (a)		2,400		176,856
Israel Chemicals, Ltd.		56,430		239,102
Mitsubishi Chemical Holdings Corp.		50,000		485,575
Mitsubishi Gas Chemical Co., Inc.		9,800		235,610
Nissan Chemical Industries, Ltd.		9,400		391,435
Nitto Denko Corp.		11,300		856,706
Novozymes A/S - B Shares		2,403		124,439
Sociedad Quimica y Minera de Chile S.A. (ADR)		2,500		122,875
Sumitomo Chemical Co., Ltd.		47,000		271,755
Tosoh Corp.		27,500		543,160
Ube Industries, Ltd.		14,500		425,321
Victrex plc		6,836		246,561
				6,751,493
Commercial Services & Supplies—0.2%
Babcock International Group plc		29,037		272,822
Copart, Inc. (a)		3,700		188,441
Deluxe Corp.		7,500		555,075
Pitney Bowes, Inc.		44,900		488,961
Stericycle, Inc. (a)		5,700		333,621
				1,838,920
Communications Equipment—0.2%
Cisco Systems, Inc.		13,900		596,171
F5 Networks, Inc. (a)		2,900		419,369
Juniper Networks, Inc.		19,400		472,002
				1,487,542
Construction & Engineering—0.1%
Hazama Ando Corp.		19,100		145,354
Kajima Corp.		54,000		507,729
Obayashi Corp.		30,600		336,945
Taisei Corp.		6,100		312,559
				1,302,587
Construction Materials—0.0%
Taiheiyo Cement Corp.		5,400		194,902
Consumer Finance—0.5%
American Express Co.		20,200		1,884,256
Capital One Financial Corp.		7,100		680,322
Discover Financial Services		14,800		1,064,564
Consumer Finance—(Continued)
Gentera S.A.B. de C.V.		150,000		110,001
Synchrony Financial		26,200		878,486
				4,617,629
Diversified Consumer Services—0.1%
H&R Block, Inc.		25,500		647,955
Diversified Financial Services—0.2%
Berkshire Hathaway, Inc. - Class B (a)		2,700		538,596
Investor AB - B Shares		20,493		912,201
				1,450,797
Diversified Telecommunication Services—1.2%
AT&T, Inc.		14,600		520,490
BCE, Inc.		29,600		1,273,741
Nippon Telegraph & Telephone Corp.		33,500		1,556,230
Singapore Telecommunications, Ltd.		602,000		1,558,820
Swisscom AG		2,984		1,479,907
Telenor ASA		35,921		817,004
Telstra Corp., Ltd.		295,307		716,498
Verizon Communications, Inc.		63,700		3,046,134
				10,968,824
Electric Utilities—0.2%
CLP Holdings, Ltd.		40,000		408,894
Enel Americas S.A. (ADR)		21,000		244,020
Red Electrica Corp. S.A.		45,882		945,119
				1,598,033
Electrical Equipment—0.5%
ABB, Ltd.		19,545		464,501
Acuity Brands, Inc. (b)		3,700		515,003
Eaton Corp. plc		20,000		1,598,200
Rockwell Automation, Inc.		1,800		313,560
Schneider Electric SE		21,009		1,847,969
				4,739,233
Electronic Equipment, Instruments & Components—0.1%
AAC Technologies Holdings, Inc.		7,500		137,140
Amphenol Corp. - Class A		5,300		456,489
Spectris plc		4,866		184,185
TE Connectivity, Ltd.		4,900		489,510
				1,267,324
Energy Equipment & Services—0.2%
Diamond Offshore Drilling, Inc. (a) (b)		16,600		243,356
Dril-Quip, Inc. (a) (b)		4,800		215,040
Noble Corp. plc (a)		33,300		123,543
Oil States International, Inc. (a)		3,700		96,940
Rowan Cos. plc - Class A (a) (b)		24,600		283,884
Subsea 7 S.A.		31,382		401,045
TGS Nopec Geophysical Co. ASA		6,426		156,774
				1,520,582

BHFTI-356

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Equity Real Estate Investment Trusts—0.2%
Apple Hospitality REIT, Inc.		11,700	$	205,569
Charter Hall Group		26,021		115,209
Hansteen Holdings plc		168,790		302,604
Host Hotels & Resorts, Inc.		42,100		784,744
Park Hotels & Resorts, Inc.		8,100		218,862
				1,626,988
Food & Staples Retailing—0.2%
CVS Health Corp.		21,200		1,318,852
George Weston, Ltd.		3,300		265,670
				1,584,522
Food Products—1.0%
Campbell Soup Co. (b)		31,000		1,342,610
General Mills, Inc.		31,100		1,401,366
Hershey Co. (The)		16,100		1,593,256
Lamb Weston Holdings, Inc.		5,900		343,498
Lancaster Colony Corp.		1,200		147,768
Nestle S.A.		42,985		3,402,967
Salmar ASA		6,139		253,220
Sanderson Farms, Inc. (b)		2,900		345,158
Tiger Brands, Ltd.		8,188		257,241
				9,087,084
Health Care Equipment & Supplies—0.3%
DiaSorin S.p.A.		1,583		142,649
Hoya Corp.		18,100		916,649
ResMed, Inc.		2,300		226,481
Smith & Nephew plc		27,832		520,289
Sonova Holding AG		1,400		222,529
Varian Medical Systems, Inc. (a)		3,600		441,540
				2,470,137
Health Care Providers & Services—0.7%
Cigna Corp.		3,900		654,186
Express Scripts Holding Co. (a)		24,900		1,720,092
Fresenius SE & Co. KGaA		9,457		722,353
HCA Healthcare, Inc.		11,100		1,076,700
McKesson Corp.		3,500		493,045
UnitedHealth Group, Inc.		8,400		1,797,600
				6,463,976
Health Care Technology—0.0%
Cerner Corp. (a)		6,300		365,400
Household Durables—0.4%
Barratt Developments plc		56,728		422,555
Berkeley Group Holdings plc		13,450		715,857
Garmin, Ltd.		15,200		895,736
Haseko Corp.		21,900		337,756
JM AB		11,137		253,096
Leggett & Platt, Inc. (b)		10,700		474,652
Taylor Wimpey plc		128,835		334,205
Tupperware Brands Corp.		9,000		435,420
				3,869,277
Household Products—0.9%
Clorox Co. (The)		9,300		1,237,923
Colgate-Palmolive Co.		21,800		1,562,624
Energizer Holdings, Inc.		5,700		339,606
Kimberly-Clark Corp.		15,900		1,751,067
Procter & Gamble Co. (The)		38,300		3,036,424
				7,927,644
Industrial Conglomerates—0.4%
3M Co.		8,500		1,865,920
Honeywell International, Inc.		13,200		1,907,532
Jardine Matheson Holdings, Ltd.		3,900		240,566
				4,014,018
Insurance—1.2%
Aflac, Inc.		31,800		1,391,568
Ageas		15,053		778,228
American Equity Investment Life Holding Co.		6,100		179,096
Athene Holding, Ltd. - Class A (a)		12,200		583,282
AXA S.A.		39,164		1,042,622
Axis Capital Holdings, Ltd.		8,000		460,560
CNA Financial Corp.		4,100		202,335
Everest Re Group, Ltd.		2,500		642,050
Legal & General Group plc		383,990		1,390,973
Lincoln National Corp.		10,300		752,518
Mapfre S.A.		53,446		177,762
NN Group NV		6,953		308,790
Principal Financial Group, Inc.		13,300		810,103
Prudential plc		17,561		423,245
Societa Cattolica di Assicurazioni SC		13,705		146,341
Swiss Re AG		5,404		550,255
Third Point Reinsurance, Ltd. (a)		17,400		242,730
Unum Group		18,100		861,741
				10,944,199
Internet & Direct Marketing Retail—0.4%
Amazon.com, Inc. (a)		2,400		3,473,616
Internet Software & Services—1.2%
Alphabet, Inc. - Class A (a)		3,100		3,215,134
Alphabet, Inc. - Class C (a)		3,200		3,301,728
eBay, Inc. (a)		28,900		1,162,936
Facebook, Inc. - Class A (a)		15,000		2,396,850
j2 Global, Inc.		3,200		252,544
Mixi, Inc.		6,800		253,963
Moneysupermarket.com Group plc		36,991		148,948
				10,732,103
IT Services—1.2%
Amdocs, Ltd.		12,000		800,640
Automatic Data Processing, Inc.		7,300		828,404
CGI Group, Inc. - Class A (a)		6,700		386,393
Cognizant Technology Solutions Corp. - Class A		13,300		1,070,650
Convergys Corp.		9,100		205,842
Fiserv, Inc. (a)		10,400		741,624
FleetCor Technologies, Inc. (a)		2,800		567,000

BHFTI-357

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
IT Services—(Continued)
Infosys, Ltd. (ADR) (b)		27,900	$	498,015
MasterCard, Inc. - Class A		5,100		893,316
Paychex, Inc.		15,700		966,963
SCSK Corp.		4,000		173,725
Visa, Inc. - Class A		25,200		3,014,424
Western Union Co. (The)		31,900		613,437
				10,760,433
Leisure Products—0.1%
Hasbro, Inc.		11,600		977,880
Life Sciences Tools & Services—0.0%
Waters Corp. (a)		1,800		357,570
Machinery—1.0%
Allison Transmission Holdings, Inc.		7,400		289,044
Atlas Copco AB - A Shares		33,446		1,448,931
Cummins, Inc.		6,400		1,037,376
Dover Corp.		5,100		500,922
Fortive Corp.		6,400		496,128
Graco, Inc.		5,400		246,888
IDEX Corp.		2,100		299,271
Illinois Tool Works, Inc.		6,600		1,033,956
IMI plc		20,459		310,536
Kone Oyj - Class B		19,242		961,147
Middleby Corp. (The) (a)		5,400		668,466
Snap-on, Inc. (b)		3,100		457,374
Spirax-Sarco Engineering plc		4,925		398,124
Toro Co. (The)		7,700		480,865
Yangzijiang Shipbuilding Holdings, Ltd.		433,200		403,374
				9,032,402
Media—1.2%
AMC Networks, Inc. - Class A (a)		8,900		460,130
Comcast Corp. - Class A		28,600		977,262
CTS Eventim AG & Co. KGaA		6,857		321,755
Discovery Communications, Inc. - Class A (a)		14,900		319,307
Gannett Co., Inc.		16,200		161,676
Mediaset Espana Comunicacion S.A.		19,052		193,923
Omnicom Group, Inc. (b)		14,400		1,046,448
ProSiebenSat.1 Media SE		19,778		685,978
Publicis Groupe S.A.		18,859		1,313,992
RTL Group S.A.		4,130		343,011
Sinclair Broadcast Group, Inc. - Class A		4,300		134,590
Toei Co., Ltd.		700		74,763
Viacom, Inc. - Class B		28,500		885,210
Walt Disney Co. (The)		25,500		2,561,220
WPP plc		79,780		1,268,024
				10,747,289
Metals & Mining—0.6%
Anglo American plc		55,888		1,305,662
BHP Billiton plc		52,427		1,034,178
BHP Billiton, Ltd.		4,652		102,904
Centamin plc		84,692		183,543
Metals & Mining—(Continued)
Centerra Gold, Inc. (a)		22,700		130,207
Fortescue Metals Group, Ltd.		70,883		237,253
Goldcorp, Inc.		15,300		211,268
Rio Tinto plc		23,065		1,171,052
Rio Tinto, Ltd.		10,280		577,797
Teck Resources, Ltd. - Class B		5,017		129,207
				5,083,071
Multi-Utilities—0.0%
Engie S.A.		6,285		105,001
Multiline Retail—0.3%
Kohl’s Corp.		6,600		432,366
Macy’s, Inc.		16,700		496,658
Next plc		9,468		632,788
Target Corp.		13,500		937,305
				2,499,117
Oil, Gas & Consumable Fuels—1.8%
Antero Resources Corp. (a)		9,000		178,650
Cenovus Energy, Inc.		43,100		366,986
Chevron Corp.		3,900		444,756
China Petroleum & Chemical Corp. - Class H		284,000		251,816
Enagas S.A.		6,726		184,090
Eni S.p.A.		37,042		652,973
Exxon Mobil Corp.		47,200		3,521,592
Galp Energia SGPS S.A.		5,939		112,023
Gulfport Energy Corp. (a)		11,800		113,870
Husky Energy, Inc.		13,700		196,086
Idemitsu Kosan Co., Ltd.		4,800		183,891
Imperial Oil, Ltd.		42,200		1,117,603
Inpex Corp.		39,800		496,705
Japan Petroleum Exploration Co., Ltd.		6,400		146,305
JXTG Holdings, Inc.		53,800		328,639
Lukoil PJSC (ADR)		3,155		218,389
Marathon Oil Corp.		25,500		411,315
Marathon Petroleum Corp.		2,100		153,531
Murphy Oil Corp. (b)		10,200		263,568
NovaTek OAO (GDR)		1,827		250,299
OMV AG		6,612		385,553
Repsol S.A.		35,693		634,145
Royal Dutch Shell plc - A Shares		7,421		232,869
Royal Dutch Shell plc - B Shares		8,659		279,036
Santos, Ltd. (a)		44,983		176,780
Snam S.p.A.		109,461		503,520
Suncor Energy, Inc.		8,500		293,527
Total S.A.		40,697		2,312,959
Tourmaline Oil Corp.		9,300		157,725
Valero Energy Corp.		7,800		723,606
Woodside Petroleum, Ltd.		49,055		1,108,284
				16,401,091
Paper & Forest Products—0.1%
Norbord, Inc.		5,200		188,530
UPM-Kymmene Oyj		28,737		1,066,393
				1,254,923

BHFTI-358

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Personal Products—0.4%
Edgewell Personal Care Co. (a)		5,500	$	268,510
Unilever NV		31,411		1,775,615
Unilever plc		32,926		1,829,590
				3,873,715
Pharmaceuticals—2.6%
Bristol-Myers Squibb Co.		22,100		1,397,825
Eli Lilly & Co.		26,500		2,050,305
GlaxoSmithKline plc		75,780		1,472,251
Indivior plc (a)		47,089		269,518
Jazz Pharmaceuticals plc (a)		2,300		347,277
Johnson & Johnson		32,500		4,164,875
Kaken Pharmaceutical Co., Ltd.		2,800		165,374
Mallinckrodt plc (a)		10,200		147,696
Merck & Co., Inc.		45,600		2,483,832
Mylan NV (a)		23,600		971,612
Novartis AG		21,608		1,748,132
Novo Nordisk A/S - Class B		4,764		234,410
Orion Oyj - Class B		6,340		194,220
Pfizer, Inc.		88,200		3,130,218
Recordati S.p.A.		7,344		272,134
Roche Holding AG		11,954		2,741,768
Sanofi		24,834		1,995,541
				23,786,988
Professional Services—0.2%
Dun & Bradstreet Corp. (The)		2,700		315,900
en-japan, Inc.		3,200		182,277
Intertek Group plc		8,335		545,567
RELX NV		43,794		908,551
				1,952,295
Real Estate Management & Development—0.4%
CK Asset Holdings, Ltd.		95,500		808,131
Daiwa House Industry Co., Ltd.		24,000		923,764
Deutsche Euroshop AG		9,613		352,443
Hang Lung Properties, Ltd.		130,000		305,051
Kerry Properties, Ltd.		49,500		224,739
Sun Hung Kai Properties, Ltd.		6,000		95,579
Swire Pacific, Ltd. - Class A		33,000		334,829
Wharf Real Estate Investment Co., Ltd. (a)		79,000		517,185
				3,561,721
Road & Rail—0.5%
Canadian National Railway Co.		23,800		1,739,441
Central Japan Railway Co.		7,900		1,505,465
Norfolk Southern Corp.		10,000		1,357,800
				4,602,706
Semiconductors & Semiconductor Equipment—1.2%
Applied Materials, Inc.		14,400		800,784
Dialog Semiconductor plc (a)		6,847		162,763
Intel Corp.		63,600		3,312,288
KLA-Tencor Corp.		4,500		490,545
Maxim Integrated Products, Inc.		14,300		861,146
Semiconductors & Semiconductor Equipment—(Continued)
Micron Technology, Inc. (a)		18,500		964,590
NVIDIA Corp.		2,000		463,180
QUALCOMM, Inc.		17,900		991,839
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		12,200		533,872
Texas Instruments, Inc.		13,600		1,412,904
Ulvac, Inc.		1,700		96,846
Xilinx, Inc.		11,000		794,640
				10,885,397
Software—1.4%
Adobe Systems, Inc. (a)		800		172,864
Check Point Software Technologies, Ltd. (a)		11,100		1,102,674
Intuit, Inc.		2,300		398,705
Manhattan Associates, Inc. (a)		4,500		188,460
Microsoft Corp.		61,500		5,613,105
Oracle Corp.		53,700		2,456,775
Sage Group plc (The)		49,580		445,430
SAP SE		18,667		1,953,427
TiVo Corp.		11,700		158,535
VMware, Inc. - Class A (a)		4,400		533,588
				13,023,563
Specialty Retail—0.7%
ABC-Mart, Inc.		5,100		335,336
AutoZone, Inc. (a)		1,300		843,297
Bed Bath & Beyond, Inc.		26,500		556,235
Buckle, Inc. (The) (b)		6,700		148,405
Chico’s FAS, Inc.		25,400		229,616
Dick’s Sporting Goods, Inc.		5,274		184,854
DSW, Inc. - Class A		7,100		159,466
Foot Locker, Inc.		6,000		273,240
Gap, Inc. (The)		16,700		521,040
Home Depot, Inc. (The)		3,800		677,312
Industria de Diseno Textil S.A.		18,613		583,371
Lowe’s Cos., Inc.		9,200		807,300
Sally Beauty Holdings, Inc. (a)		16,300		268,135
Signet Jewelers, Ltd.		8,900		342,828
USS Co., Ltd.		12,000		245,871
Williams-Sonoma, Inc. (b)		8,300		437,908
				6,614,214
Technology Hardware, Storage & Peripherals—1.1%
Apple, Inc.		37,900		6,358,862
Hewlett Packard Enterprise Co.		27,000		473,580
HP, Inc.		65,700		1,440,144
Neopost S.A.		9,684		255,334
NetApp, Inc.		3,800		234,422
Western Digital Corp.		9,800		904,246
				9,666,588
Textiles, Apparel & Luxury Goods—0.3%
Burberry Group plc		29,910		712,282
Carter’s, Inc.		2,700		281,070
Michael Kors Holdings, Ltd. (a)		8,500		527,680
Moncler S.p.A.		20,579		784,726

BHFTI-359

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Textiles, Apparel & Luxury Goods—(Continued)
Pandora A/S		7,132	$	773,091
				3,078,849
Thrifts & Mortgage Finance—0.0%
Genworth MI Canada, Inc.		6,700		213,218
Tobacco—0.8%
Altria Group, Inc.		18,900		1,177,848
British American Tobacco plc		38,037		2,208,092
Imperial Brands plc		27,748		945,607
Philip Morris International, Inc.		22,500		2,236,500
Swedish Match AB		8,513		387,012
				6,955,059
Trading Companies & Distributors—0.4%
Fastenal Co.		4,000		218,360
ITOCHU Corp.		60,500		1,178,023
Marubeni Corp.		38,000		276,687
Mitsubishi Corp.		22,500		605,247
Mitsui & Co., Ltd.		35,700		612,835
Sumitomo Corp.		22,900		383,491
				3,274,643
Transportation Infrastructure—0.0%
Grupo Aeroportuario del Pacifico S.A.B. de C.V. (ADR)		1,100		109,604
Water Utilities—0.1%
Cia de Saneamento Basico do Estado de Sao Paulo (ADR)		41,800		442,662
Wireless Telecommunication Services—0.5%
KDDI Corp.		76,100		1,954,346
Mobile TeleSystems PJSC (ADR)		28,700		326,893
NTT DoCoMo, Inc.		65,800		1,675,237
Vodacom Group, Ltd.		16,971		219,614
				4,176,090
Total Common Stocks (Cost $326,462,395)				315,547,306
Corporate Bonds & Notes—32.4%
Agriculture—0.6%
BAT Capital Corp.
3.222%, 08/15/24 (144A)		6,000,000		5,784,744
Auto Manufacturers—0.2%
General Motors Financial Co., Inc.
3.200%, 07/06/21		2,000,000		1,982,690
Banks—10.1%
Banco Santander S.A.
3.125%, 02/23/23 (b)		2,400,000		2,325,877
Bank of America Corp.
3.705%, 3M LIBOR + 1.512%, 04/24/28 (c)		7,785,000		7,655,069
Banks—(Continued)
Bank of Montreal
2.746%, 3M LIBOR + 0.790%, 08/27/21 (c)		2,500,000		2,523,378
Bank of Nova Scotia (The)
1.986%, 3M LIBOR + 0.290%, 01/08/21 (b) (c)		5,000,000		4,994,551
Barclays Bank plc
10.179%, 06/12/21 (144A)		2,170,000		2,547,139
BB&T Corp.
2.850%, 10/26/24		2,207,000		2,117,741
BNP Paribas S.A.
3.375%, 01/09/25 (144A)		1,115,000		1,078,526
BPCE S.A.
3.000%, 05/22/22 (144A)		3,500,000		3,428,026
Capital One N.A.
2.350%, 01/31/20		3,000,000		2,951,406
Citigroup, Inc.
3.887%, 3M LIBOR + 1.563%, 01/10/28 (c)		7,750,000		7,708,042
Cooperatieve Rabobank UA
11.000%, 3M LIBOR + 10.868%, 06/30/19 (144A) (c)		1,080,000		1,180,991
Cooperative Rabobank UA
3.750%, 07/21/26		3,000,000		2,895,376
Credit Suisse Group AG
2.997%, 12/14/23 (144A) (c)		3,000,000		2,908,501
Deutsche Bank AG
3.950%, 02/27/23		1,855,000		1,849,732
Discover Bank
3.100%, 06/04/20		2,500,000		2,490,824
Goldman Sachs Group, Inc. (The)
2.905%, 3M LIBOR + 0.990%, 07/24/23 (c)		5,000,000		4,862,636
HSBC Holdings plc
2.950%, 05/25/21		5,000,000		4,949,971
JPMorgan Chase & Co.
2.972%, 01/15/23		4,037,000		3,959,755
Manufacturers & Traders Trust Co.
3.400%, 08/17/27		3,000,000		2,916,501
Morgan Stanley
3.875%, 01/27/26		5,440,000		5,435,271
PNC Bank N.A.
3.100%, 10/25/27		3,750,000		3,575,933
Regions Bank
2.750%, 04/01/21		2,370,000		2,340,961
Regions Financial Corp.
2.750%, 08/14/22		2,000,000		1,943,320
Royal Bank of Scotland Group plc
3.875%, 09/12/23		2,500,000		2,468,902
Standard Chartered plc
3.885%, 3M LIBOR + 1.08%, 03/15/24 (144A) (c)		4,025,000		3,998,716
SunTrust Bank
2.590%, 01/29/21 (c)		2,500,000		2,483,362
UBS Group Funding Switzerland AG
4.125%, 09/24/25 (144A)		3,000,000		3,016,658
Wells Fargo & Co.
3.000%, 10/23/26		1,540,000		1,442,141
				92,049,306

BHFTI-360

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Beverages—0.2%
Anheuser-Busch InBev Worldwide, Inc.
3.052%, 3M LIBOR + 0.740%, 01/12/24 (c)		720,000	$	724,234
4.375%, 04/15/38		1,080,000		1,101,889
				1,826,123
Biotechnology—0.4%
Amgen, Inc.
2.650%, 05/11/22		3,595,000		3,507,721
Building Materials—0.3%
Boral Finance Pty, Ltd.
3.000%, 11/01/22 (144A)		3,000,000		2,930,233
Chemicals—0.6%
Mosaic Co. (The)
3.250%, 11/15/22		2,500,000		2,447,666
Sherwin-Williams Co. (The)
3.450%, 06/01/27		3,000,000		2,869,330
				5,316,996
Commercial Services—0.3%
Moody’s Corp.
2.625%, 01/15/23 (144A)		2,500,000		2,413,544
Computers—0.3%
Hewlett Packard Enterprise Co.
3.600%, 10/15/20		3,095,000		3,123,633
Diversified Financial Services—0.1%
High Street Funding Trust II
4.682%, 02/15/48 (144A)		645,000		666,479
Electric—1.7%
Berkshire Hathaway Energy Co.
3.800%, 07/15/48 (144A)		6,000,000		5,719,358
Duke Energy Corp.
3.750%, 09/01/46		4,000,000		3,607,872
Enel Finance International NV
2.750%, 04/06/23 (144A)		2,000,000		1,932,676
Sempra Energy
3.400%, 02/01/28		995,000		954,466
3.800%, 02/01/38		3,350,000		3,143,861
				15,358,233
Electrical Components & Equipment—0.4%
Hubbell, Inc.
3.500%, 02/15/28		3,385,000		3,304,978
Food—0.6%
Campbell Soup Co.
3.650%, 03/15/23		1,380,000		1,381,010
Kroger Co. (The)
4.450%, 02/01/47 (b)		2,750,000		2,599,989
Food—(Continued)
Tyson Foods, Inc.
3.550%, 06/02/27		1,587,000		1,527,363
				5,508,362
Healthcare-Products—0.6%
Abbott Laboratories
4.750%, 11/30/36		2,500,000		2,697,842
Becton Dickinson and Co.
3.363%, 06/06/24		3,000,000		2,887,496
				5,585,338
Healthcare-Services—0.4%
Aetna, Inc.
2.800%, 06/15/23		577,000		554,408
UnitedHealth Group, Inc.
2.375%, 10/15/22		3,000,000		2,886,686
				3,441,094
Housewares—0.3%
Newell Brands, Inc.
4.200%, 04/01/26 (b)		3,000,000		2,970,046
Insurance—1.2%
Allstate Corp. (The)
2.732%, 3M LIBOR + 0.430%, 03/29/21 (c)		400,000		400,565
Manulife Financial Corp.
4.061%, 5Y USD Swap + 1.647%, 02/24/32 (c)		1,500,000		1,464,683
Markel Corp.
3.500%, 11/01/27		989,000		943,699
Progressive Corp. (The)
5.375%, 3M LIBOR + 2.539%, 03/15/23 (c)		2,310,000		2,335,988
Prudential Financial, Inc.
4.500%, 09/15/47 (b) (c)		4,000,000		3,812,000
Voya Financial, Inc.
4.700%, 3M LIBOR + 2.084%, 01/23/48 (144A) (c)		2,675,000		2,434,757
				11,391,692
Internet—0.2%
Amazon.com, Inc.
2.800%, 08/22/24 (144A)		1,830,000		1,775,656
Machinery-Diversified—0.3%
Roper Technologies, Inc.
3.800%, 12/15/26		3,000,000		2,987,632
Media—0.5%
Charter Communications Operating LLC / Charter Communications Operating Capital Corp.
4.908%, 07/23/25		1,175,000		1,200,740
Comcast Corp.
2.350%, 01/15/27		595,000		534,195
COX Communications, Inc.
3.150%, 08/15/24 (144A)		1,690,000		1,620,738
4.600%, 08/15/47 (144A)		1,310,000		1,253,408
				4,609,081

BHFTI-361

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Mining—0.7%
Anglo American Capital plc
4.500%, 03/15/28 (144A)		1,355,000	$	1,352,044
Barrick North America Finance LLC
5.750%, 05/01/43		3,000,000		3,493,403
Glencore Funding LLC
4.125%, 05/30/23 (144A)		1,640,000		1,650,693
				6,496,140
Miscellaneous Manufacturing—0.2%
General Electric Co.
5.000%, 3M LIBOR + 3.330%, 01/21/21 (c)		635,000		628,650
Ingersoll-Rand Global Holding Co., Ltd.
2.900%, 02/21/21		1,175,000		1,172,035
				1,800,685
Oil & Gas—2.5%
Anadarko Petroleum Corp.
5.550%, 03/15/26 (b)		2,500,000		2,729,121
Andeavor
4.500%, 04/01/48		2,500,000		2,338,753
Canadian Natural Resources, Ltd.
3.850%, 06/01/27		2,000,000		1,955,759
Cenovus Energy, Inc.
4.250%, 04/15/27 (b)		1,990,000		1,939,740
5.400%, 06/15/47 (b)		2,760,000		2,778,053
Concho Resources, Inc.
3.750%, 10/01/27		2,000,000		1,955,579
Devon Energy Corp.
5.000%, 06/15/45		2,000,000		2,125,657
5.850%, 12/15/25		1,475,000		1,675,321
EQT Corp.
3.900%, 10/01/27		2,760,000		2,640,359
Noble Energy, Inc.
5.050%, 11/15/44 (b)		3,000,000		3,135,847
				23,274,189
Pharmaceuticals—1.6%
AbbVie, Inc.
2.900%, 11/06/22		2,000,000		1,953,640
Cardinal Health, Inc.
3.079%, 06/15/24		1,080,000		1,030,338
CVS Health Corp.
3.875%, 07/20/25		890,000		882,273
5.050%, 03/25/48		2,085,000		2,192,975
Mylan, Inc.
4.550%, 04/15/28 (144A)		2,270,000		2,273,692
Shire Acquisitions Investments Ireland DAC
2.400%, 09/23/21		5,000,000		4,827,610
Teva Pharmaceutical Finance Netherlands B.V.
2.200%, 07/21/21		1,360,000		1,224,683
				14,385,211
Pipelines—1.7%
Enbridge, Inc.
6.000%, 3M LIBOR + 3.890%, 01/15/77 (b) (c)		2,000,000		1,970,000
Pipelines—(Continued)
Energy Transfer Partners L.P.
6.625%, 02/15/28 (c)		2,500,000		2,378,125
Enterprise Products Operating LLC
5.375%, 3M LIBOR + 2.57%, 02/15/78 (c)		1,220,000		1,168,490
MPLX L.P.
4.500%, 04/15/38		3,900,000		3,850,581
Sabine Pass Liquefaction LLC
4.200%, 03/15/28		3,000,000		2,956,368
Williams Partners L.P.
4.000%, 09/15/25		2,500,000		2,459,788
4.850%, 03/01/48		560,000		554,331
				15,337,683
Real Estate Investment Trusts—2.6%
American Tower Corp.
3.375%, 10/15/26		6,000,000		5,614,136
Boston Properties L.P.
3.200%, 01/15/25		2,000,000		1,930,614
Crown Castle International Corp.
3.700%, 06/15/26		5,000,000		4,811,788
Digital Realty Trust L.P.
3.700%, 08/15/27		5,500,000		5,299,989
Duke Realty L.P.
3.375%, 12/15/27		2,000,000		1,905,544
Ventas Realty L.P.
3.750%, 05/01/24		2,000,000		2,004,359
Vornado Realty L.P.
3.500%, 01/15/25		2,250,000		2,166,335
				23,732,765
Retail—0.5%
McDonald’s Corp.
4.450%, 03/01/47		2,035,000		2,097,499
Walmart, Inc.
3.625%, 12/15/47 (b)		2,500,000		2,446,018
				4,543,517
Semiconductors—0.4%
Analog Devices, Inc.
2.950%, 01/12/21		3,270,000		3,259,202
Software—0.3%
Microsoft Corp.
4.100%, 02/06/37		2,500,000		2,650,955
Telecommunications—2.0%
AT&T, Inc.
4.300%, 02/15/30 (144A)		5,290,000		5,259,783
4.500%, 03/09/48		490,000		455,423
4.900%, 08/14/37		1,925,000		1,935,869
5.150%, 03/15/42		285,000		293,625
Motorola Solutions, Inc.
4.600%, 02/23/28		3,150,000		3,170,768
Telefonica Emisiones S.A.U.
5.213%, 03/08/47		2,000,000		2,125,548

BHFTI-362

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Shares/ Principal Amount*		Value
Telecommunications—(Continued)
Verizon Communications, Inc.
3.376%, 02/15/25		1,015,000	$	997,659
4.272%, 01/15/36		3,750,000		3,589,741
				17,828,416
Transportation—0.6%
CSX Corp.
2.600%, 11/01/26		2,500,000		2,281,811
Norfolk Southern Corp.
2.900%, 06/15/26		3,500,000		3,331,096
				5,612,907
Total Corporate Bonds & Notes (Cost $303,535,653)				295,455,251
Mutual Funds—16.2%
Investment Company Securities—16.2%
iShares Core MSCI Europe ETF		134,024		6,658,312
iShares Core S&P 500 ETF (b)		221,070		58,665,346
iShares MSCI EAFE ETF		867,508		60,447,957
iShares MSCI Japan Fund (b)		158,543		9,620,389
iShares U.S. Financial Services ETF (b)		34,312		4,493,500
SPDR S&P Insurance ETF (b)		123,078		3,817,880
WisdomTree Japan Hedged Equity Fund (b)		82,531		4,622,561
Total Mutual Funds (Cost $146,919,456)				148,325,945
Mortgage-Backed Securities—1.3%
Collateralized Mortgage Obligations—1.3%
JPMorgan Mortgage Trust
3.000%, 05/25/47 (144A) (c)		4,043,507		3,983,485
3.500%, 08/25/47 (144A) (c)		5,365,783		5,366,620
3.500%, 11/25/48 (144A) (c)		2,387,724		2,388,096
Total Mortgage-Backed Securities (Cost $11,857,212)				11,738,201
U.S. Treasury & Government Agencies—1.1%
U.S. Treasury—1.1%
U.S. Treasury Inflation Indexed Notes
0.625%, 01/15/26 (d)		9,530,543		9,529,129
U.S. Treasury Notes
2.750%, 02/15/28 (b)		500,000		500,254
Total U.S. Treasury & Government Agencies (Cost $10,151,689)				10,029,383
Preferred Stock—0.0%
Security Description	Shares/ Principal Amount*		Value
Auto Components—0.0%
Schaeffler AG (Cost $480,694)		28,542		440,728
Short-Term Investment—12.5%
Repurchase Agreement—12.5%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $113,758,585; collateralized by a U.S. Treasury Note at 1.875%, maturing 02/28/22, with a market value of $116,027,174.		113,751,001		113,751,001
Total Short-Term Investments (Cost $113,751,001)				113,751,001
Securities Lending Reinvestments (e)—6.0%
Certificates of Deposit—1.5%
Banco Del Estado De Chile New York
1.985%, 1M LIBOR + 0.220%, 05/14/18 (c)		2,000,000		1,999,860
Credit Suisse AG New York
1.930%, 1M LIBOR + 0.190%, 05/11/18 (c)		2,000,000		1,999,776
Mitsubishi UFJ Trust and Banking Corp.
2.077%, 1M LIBOR + 0.200%, 05/30/18 (c)		2,000,000		1,999,668
Mizuho Bank, Ltd., New York
1.891%, 1M LIBOR + 0.200%, 04/06/18 (c)		1,000,000		999,985
2.008%, 1M LIBOR + 0.200%, 04/18/18 (c)		1,000,000		999,986
Sumitomo Mitsui Banking Corp., New York
1.920%, 1M LIBOR + 0.180%, 04/11/18 (c)		2,500,000		2,499,910
Wells Fargo Bank N.A.
1.893%, 3M LIBOR + 0.140%, 10/26/18 (c)		3,000,000		3,001,154
				13,500,339
Commercial Paper—0.3%
UBS AG
1.880%, 1M LIBOR + 0.210%, 05/02/18 (c)		2,500,000		2,499,640
Repurchase Agreements—3.3%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $2,064,422; collateralized by various Common Stock with an aggregate market value of $2,200,000.		2,000,000		2,000,000
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $2,900,564; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $2,958,016.		2,900,000		2,900,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $1,600,311; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $1,632,004.		1,600,000		1,600,000

BHFTI-363

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (e)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,600,320; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,632,011.		1,600,000	$	1,600,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $301,432; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $333,214.		300,000		300,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,526,980; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,666,068.		1,500,000		1,500,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $1,384,686; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,412,114.		1,384,423		1,384,423
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $830,278; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $865,587.		800,000		800,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,006,321; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $5,004,368; collateralized by various Common Stock with an aggregate market value of $5,561,300.		5,000,000		5,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $5,000,989; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $5,100,000.		5,000,000		5,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Societe Generale
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $4,002,427; collateralized by various Common Stock with an aggregate market value of $4,446,896.		4,000,000		4,000,000
				30,084,423
Time Deposits—0.9%
DNB Bank ASA 1.640%, 04/02/18		2,000,000		2,000,000
DZ Bank AG 1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York 1.640%, 04/02/18		2,000,000		2,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		2,000,000		2,000,000
				8,000,000
Total Securities Lending Reinvestments (Cost $54,084,423)				54,084,402
Total Investments—104.1% (Cost $967,242,523)				949,372,217
Other assets and liabilities (net)—(4.1)%				(37,803,596	)
Net Assets—100.0%			$	911,568,621

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	Non-income producing security.
(b)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $52,496,873 and the collateral received consisted of cash in the amount of $54,084,423. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(c)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(d)	Principal amount of security is adjusted for inflation.
(e)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $67,118,177, which is 7.4% of net assets.

BHFTI-364

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Forward Foreign Currency Exchange Contracts

Contracts to Buy		Counterparty	Settlement Date		In Exchange for			Unrealized Appreciation/ (Depreciation)
AUD	7,539,000	MSIP		04/26/18		USD	5,828,522	$	(38,198	)
CAD	13,050,000	UBSA		04/26/18		USD	10,153,193		(19,170	)
CHF	153,460	JPMC		04/04/18		USD	160,454		69
CHF	287,795	JPMC		04/04/18		USD	300,912		129
EUR	52,756	JPMC		04/04/18		USD	64,871		42
EUR	357,969	JPMC		04/04/18		USD	440,553		(89	)
GBP	321,676	JPMC		04/04/18		USD	452,147		(836	)
IDR	259,866,000,000	UBSA		04/26/18		USD	18,866,415		(24,890	)
JPY	3,102,411,000	UBSA		04/26/18		USD	29,575,079		(380,609	)
Contracts to Deliver
EUR	25,565,000	JPMC		04/26/18		USD	31,632,776		127,164
GBP	25,354,000	MSIP		04/26/18		USD	35,928,519		323,633
MXN	353,970,000	UBSA		04/26/18		USD	18,766,303		(635,623	)
Cross Currency Contracts to Buy
AUD	48,031,690	MSIP		04/26/18		NZD	51,194,000		(105,373	)
EUR	19,086,800	UBSA		04/26/18		PLN	81,098,000		(175,962	)
JPY	1,073,068,000	MSIP		04/26/18		EUR	8,268,476		(92,005	)
NZD	51,194,000	JPMC		04/26/18		AUD	48,280,740		(85,910	)
Net Unrealized Depreciation								$	(1,107,628	)

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts			Notional Value				Value/ Unrealized Appreciation/ (Depreciation)
Australian 10 Year Treasury Bond Futures		06/15/18		304			AUD	39,403,538		$	201,112
Euro Stoxx 50 Index Futures		06/15/18		177			EUR	5,807,370			(122,186	)
MSCI Emerging Markets Index Mini Futures		06/15/18		230			USD	13,659,700			(142,095	)
Russell 2000 Index Mini Futures		06/15/18		356			USD	27,255,360			(725,482	)
S&P 500 Index E-Mini Futures		06/15/18		291			USD	38,455,650			(1,547,688	)
TOPIX Index Futures		06/07/18		30			JPY	514,950,000			24,579
U.S. Treasury Long Bond Futures		06/20/18		87			USD	12,756,375			382,922
U.S. Treasury Note 10 Year Futures		06/20/18		155			USD	18,776,797			135,343
S&P Financial Select Sector Index E-Mini Futures		06/15/18		271			USD	23,038,388			(987,615	)
Futures Contracts—Short
Canada Government Bond 10 Year Futures		06/20/18		(308	)		CAD	(41,047,160	)		(180,050	)
Euro Stoxx 50 Index Futures		06/15/18		(95	)		EUR	(3,116,950	)		(80,119	)
FTSE 100 Index Futures		06/15/18		(94	)		GBP	(6,573,890	)		118,911
S&P 500 Index E-Mini Futures		06/15/18		(250	)		USD	(33,037,500	)		59,488
S&P TSX 60 Index Futures		06/14/18		(67	)		CAD	(12,140,400	)		127,844
TOPIX Index Futures		06/07/18		(30	)		JPY	(514,950,000	)		(142,257	)
U.S. Treasury Note 10 Year Futures		06/20/18		(262	)		USD	(31,738,844	)		(156,632	)
U.S. Treasury Note 2 Year Futures		06/29/18		(24	)		USD	(5,102,625	)		(2,270	)
U.S. Treasury Note 5 Year Futures		06/29/18		(22	)		USD	(2,518,141	)		(9,224	)
Net Unrealized Depreciation										$	(3,045,419	)

BHFTI-365

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Swap Agreements

Centrally Cleared Interest Rate Swaps

Pay/Receive Floating Rate

Floating Rate Index

Payment Frequency

Fixed Rate

Payment Frequency

Maturity Date

Notional Amount

Market Value

Upfront Premiums Paid

Unrealized Depreciation

Pay

3M LIBOR

Quarterly

2.855%

Quarterly

01/23/28

USD

288,594,000

$

2,399,082

$

12,404,777

$

(10,005,695

)

Glossary of Abbreviations

Counterparties

(JPMC)— JPMorgan Chase Bank N.A. (MSIP)— Morgan Stanley & Co. International plc (UBSA)— UBS AG

Currencies

(AUD)—	Australian Dollar	(GBP)—	British Pound	(NZD)—	New Zealand Dollar
(CAD)—	Canadian Dollar	(IDR)—	Indonesian Rupiah	(PLN)—	Polish Zloty
(CHF)—	Swiss Franc	(JPY)—	Japanese Yen	(USD)—	United States Dollar
(EUR)—	Euro	(MXN)—	Mexican Peso

Index Abbreviations

(LIBOR)— London Interbank Offered Rate

Other Abbreviations

(REIT)—	Real Estate Investment Trust	(ETF)—	Exchange-Traded Fund
(ADR)—	American Depositary Receipt	(GDR)—	Global Depositary Receipt

BHFTI-366

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	1,868,570	$	94,182	$	—	$	1,962,752
Air Freight & Logistics		—		311,043		—		311,043
Airlines		274,320		142,564		—		416,884
Auto Components		3,244,955		3,453,393		—		6,698,348
Automobiles		704,158		1,632,466		—		2,336,624
Banks		11,829,528		11,305,376		—		23,134,904
Beverages		2,259,405		1,633,452		—		3,892,857
Biotechnology		9,538,063		—		—		9,538,063
Building Products		452,037		406,562		—		858,599
Capital Markets		5,781,896		6,234,462		—		12,016,358
Chemicals		299,731		6,451,762		—		6,751,493
Commercial Services & Supplies		1,566,098		272,822		—		1,838,920
Communications Equipment		1,487,542		—		—		1,487,542
Construction & Engineering		—		1,302,587		—		1,302,587
Construction Materials		—		194,902		—		194,902
Consumer Finance		4,507,628		110,001		—		4,617,629
Diversified Consumer Services		647,955		—		—		647,955
Diversified Financial Services		538,596		912,201		—		1,450,797
Diversified Telecommunication Services		4,840,365		6,128,459		—		10,968,824
Electric Utilities		244,020		1,354,013		—		1,598,033
Electrical Equipment		2,426,763		2,312,470		—		4,739,233
Electronic Equipment, Instruments & Components		945,999		321,325		—		1,267,324
Energy Equipment & Services		962,763		557,819		—		1,520,582
Equity Real Estate Investment Trusts		1,209,175		417,813		—		1,626,988
Food & Staples Retailing		1,584,522		—		—		1,584,522
Food Products		5,173,656		3,913,428		—		9,087,084
Health Care Equipment & Supplies		668,021		1,802,116		—		2,470,137
Health Care Providers & Services		5,741,623		722,353		—		6,463,976
Health Care Technology		365,400		—		—		365,400
Household Durables		1,805,808		2,063,469		—		3,869,277
Household Products		7,927,644		—		—		7,927,644
Industrial Conglomerates		3,773,452		240,566		—		4,014,018
Insurance		6,125,983		4,818,216		—		10,944,199
Internet & Direct Marketing Retail		3,473,616		—		—		3,473,616
Internet Software & Services		10,329,192		402,911		—		10,732,103
IT Services		10,586,708		173,725		—		10,760,433
Leisure Products		977,880		—		—		977,880
Life Sciences Tools & Services		357,570		—		—		357,570
Machinery		5,510,290		3,522,112		—		9,032,402
Media		6,545,843		4,201,446		—		10,747,289

BHFTI-367

Brighthouse Funds Trust I

Schroders Global Multi-Asset Portfolio II

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1			Level 2			Level 3		Total
Metals & Mining	$	470,682		$	4,612,389		$	—	$	5,083,071
Multi-Utilities		—			105,001			—		105,001
Multiline Retail		1,866,329			632,788			—		2,499,117
Oil, Gas & Consumable Fuels		8,411,503			7,989,588			—		16,401,091
Paper & Forest Products		188,530			1,066,393			—		1,254,923
Personal Products		268,510			3,605,205			—		3,873,715
Pharmaceuticals		14,693,640			9,093,348			—		23,786,988
Professional Services		315,900			1,636,395			—		1,952,295
Real Estate Management & Development		—			3,561,721			—		3,561,721
Road & Rail		3,097,241			1,505,465			—		4,602,706
Semiconductors & Semiconductor Equipment		10,625,788			259,609			—		10,885,397
Software		10,624,706			2,398,857			—		13,023,563
Specialty Retail		5,449,636			1,164,578			—		6,614,214
Technology Hardware, Storage & Peripherals		9,411,254			255,334			—		9,666,588
Textiles, Apparel & Luxury Goods		808,750			2,270,099			—		3,078,849
Thrifts & Mortgage Finance		213,218			—			—		213,218
Tobacco		3,414,348			3,540,711			—		6,955,059
Trading Companies & Distributors		218,360			3,056,283			—		3,274,643
Transportation Infrastructure		109,604			—			—		109,604
Water Utilities		442,662			—			—		442,662
Wireless Telecommunication Services		326,893			3,849,197			—		4,176,090
Total Common Stocks		197,534,329			118,012,977			—		315,547,306
Total Corporate Bonds & Notes*		—			295,455,251			—		295,455,251
Total Mutual Funds*		148,325,945			—			—		148,325,945
Total Mortgage-Backed Securities*		—			11,738,201			—		11,738,201
Total U.S. Treasury & Government Agencies*		—			10,029,383			—		10,029,383
Total Preferred Stock*		—			440,728			—		440,728
Total Short-Term Investment*		—			113,751,001			—		113,751,001
Total Securities Lending Reinvestments*		—			54,084,402			—		54,084,402
Total Investments	$	345,860,274		$	603,511,943		$	—	$	949,372,217
Collateral for Securities Loaned (Liability)	$	—		$	(54,084,423	)	$	—	$	(54,084,423	)
Forward Contracts
Forward Foreign Currency Exchange Contracts (Unrealized Appreciation)	$	—		$	451,037		$	—	$	451,037
Forward Foreign Currency Exchange Contracts (Unrealized Depreciation)		—			(1,558,665	)		—		(1,558,665	)
Total Forward Contracts	$	—		$	(1,107,628	)	$	—	$	(1,107,628	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,050,199		$	—		$	—	$	1,050,199
Futures Contracts (Unrealized Depreciation)		(4,095,618	)		—			—		(4,095,618	)
Total Futures Contracts	$	(3,045,419	)	$	—		$	—	$	(3,045,419	)
Centrally Cleared Swap Contracts
Centrally Cleared Swap Contracts (Unrealized Depreciation)	$	—		$	(10,005,695	)	$	—	$	(10,005,695	)

* See Schedule of Investments for additional detailed categorizations.

Transfers from Level 1 to Level 2 in the amount of $650,454 were due to the application of a systematic fair valuation model factor.

BHFTI-368

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—97.4% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—97.4%
Financial Select Sector SPDR Fund (a) (b)		1,783,386	$	49,167,952
Industrial Select Sector SPDR Fund (a) (b)		674,444		50,104,445
iShares 20+ Year Treasury Bond ETF (a)		217,546		26,518,857
iShares Core MSCI Emerging Markets ETF		3,493,892		204,043,293
iShares Core S&P Mid-Cap ETF (a)		269,795		50,605,448
iShares Core S&P Small-Cap ETF (a)		987,905		76,078,564
iShares MSCI Canada ETF (a)		1,070,966		29,515,823
iShares MSCI EAFE ETF (a)		4,542,338		316,510,112
iShares TIPS Bond ETF		1,152,955		130,341,563
PowerShares DB Commodity Index Tracking ETF (a) (c)		1,569,686		26,653,268
SPDR Bloomberg Barclays High Yield Bond ETF (a) (b)		6,475,116		232,132,909
SPDR Dow Jones International Real Estate ETF (a) (b)		647,424		25,909,908
SPDR S&P 500 ETF Trust (a) (b)		2,642,014		695,245,984
SPDR S&P International Small Cap ETF (b)		1,452,065		51,388,580
Technology Select Sector SPDR Fund (a)		747,156		48,878,946
Vanguard FTSE Pacific ETF		883,930		64,482,693
Vanguard REIT ETF (a)		344,429		25,994,057
Vanguard Total Bond Market ETF (a)		4,542,212		363,059,005
Total Mutual Funds (Cost $2,226,495,858)				2,466,631,407
Short-Term Investment—2.6%
Mutual Fund—2.6%
AIM STIT-STIC Prime Portfolio		64,607,180		64,607,180
Total Short-Term Investments (Cost $64,607,180)				64,607,180
Securities Lending Reinvestments (d)—23.4%
Certificates of Deposit—9.5%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (e)		10,000,000		9,999,300
2.028%, 1M LIBOR + 0.220%, 07/17/18 (e)		7,500,000		7,497,128
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (e)		8,000,000		8,000,192
Chiba Bank, Ltd., New York 2.250%, 05/25/18		5,000,000		5,000,536
China Construction Bank 1.950%, 04/20/18		15,000,000		14,998,440
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (e)		8,500,000		8,498,512
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (e)		2,250,000		2,250,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (e)		10,000,000		9,998,590
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		10,000,000		9,999,580
2.062%, 1M LIBOR + 0.190%, 04/25/18 (e)		15,000,000		14,999,595
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (e)		12,000,000		11,997,384
2.077%, 1M LIBOR + 0.200%, 05/30/18 (e)		10,000,000		9,998,340
Certificates of Deposit—(Continued)
Mizuho Bank, Ltd., New York 1.891%, 1M LIBOR + 0.200%, 04/06/18 (e)		7,500,000		7,499,888
1.940%, 1M LIBOR + 0.200%, 04/11/18 (e)		5,000,000		5,000,110
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (e)		2,000,000		1,999,828
2.220%, 06/11/18		5,000,000		5,000,830
Norinchukin Bank New York 1.846%, 1M LIBOR + 0.160%, 04/05/18 (e)		15,000,000		14,999,745
Royal Bank of Canada New York 1.836%, 04/05/18		3,003,573		2,999,949
2.301%, 1M LIBOR + 0.440%, 09/17/18 (e)		9,000,000		8,998,731
Standard Chartered plc 1.864%, 1M LIBOR + 0.200%, 05/01/18 (e)		15,000,000		14,996,760
2.154%, 1M LIBOR + 0.300%, 08/22/18 (e)		1,500,000		1,499,856
2.250%, 08/21/18		2,500,000		2,498,950
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (e)		8,000,000		7,994,000
Sumitomo Mitsui Banking Corp., New York 2.000%, 05/21/18		10,000,000		10,000,050
2.010%, 1M LIBOR + 0.270%, 09/10/18 (e)		8,000,000		7,997,608
2.062%, 1M LIBOR + 0.190%, 04/26/18 (e)		3,000,000		2,999,976
2.157%, 1M LIBOR + 0.280%, 07/30/18 (e)		5,000,000		4,999,810
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (e)		25,000,000		25,009,612
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (e)		3,000,000		2,999,733
				240,733,033
Commercial Paper—4.8%
Alpine, Ltd. 2.240%, 06/07/18		3,480,400		3,485,545
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (e)		10,000,000		9,999,090
Danske Corp. 2.080%, 06/04/18		9,944,533		9,962,170
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		14,951,817		14,983,860
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (e)		3,500,000		3,498,754
LMA S.A. & LMA Americas 2.150%, 06/01/18		9,945,653		9,962,290
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/08/18		4,972,528		4,979,790
Ridgefield Funding Co. LLC 1.800%, 04/03/18		14,932,500		14,999,250
2.018%, 1M LIBOR + 0.210%, 05/17/18 (e)		4,000,000		3,999,424
2.040%, 05/21/18		11,938,800		11,965,356
Sheffield Receivables Co. 1.892%, 1M LIBOR + 0.190%, 06/07/18 (e)		7,499,237		7,499,460
2.080%, 05/21/18		7,461,433		7,478,040
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (e)		19,000,000		18,997,264
				121,810,293

BHFTI-369

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Master Demand Notes—0.2%
Natixis Financial Products LLC 1.910%, OBFR + 0.230%, 04/02/18 (e)		5,000,000	$	5,000,000
Repurchase Agreements—7.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 10/16/17 at 2.260%, due on 07/02/18 with a maturity value of $5,081,297; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $25,005,000; collateralized by Foreign Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 04/01/19 - 05/24/27, and an aggregate market value of $25,500,058.		25,000,000		25,000,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $2,210,500; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,443,566.		2,200,000		2,200,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $20,020,700; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $22,214,241.		20,000,000		20,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $15,269,804; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $16,660,681.		15,000,000		15,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $991,599; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $1,011,240.		991,410		991,410
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $17,643,417; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $18,393,715.		17,000,000		17,000,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $7,654,242; collateralized by various Common Stock with an aggregate market value of $8,250,001.		7,500,000		7,500,000
Repurchase Agreements—(Continued)
NBC Global Finance Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $10,063,208; collateralized by various Common Stock with an aggregate market value of $11,122,599.		10,000,000		10,000,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $15,213,279; collateralized by various Common Stock with an aggregate market value of $16,906,351.		15,200,000		15,200,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $9,009,400; collateralized by various Common Stock with an aggregate market value of $10,010,339.		9,000,000		9,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $5,006,319; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $2,001,719; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $10,006,067; collateralized by various Common Stock with an aggregate market value of $11,117,239.		10,000,000		10,000,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $50,012,639; collateralized by various Common Stock with an aggregate market value of $55,586,196.		50,000,000		50,000,000
				193,891,410
Time Deposits—1.2%
ABN AMRO Bank NV 1.680%, 04/02/18		5,000,000		5,000,000
Australia New Zealand Bank 1.670%, 04/02/18		25,000,000		25,000,000
				30,000,000
Total Securities Lending Reinvestments (Cost $591,464,267)				591,434,736
Total Investments—123.4% (Cost $2,882,567,305)				3,122,673,323
Other assets and liabilities (net)—(23.4)%				(591,249,136	)
Net Assets—100.0%			$	2,531,424,187

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $583,197,211 and the collateral received consisted of cash in the amount of $591,271,885. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Affiliated Issuer.
(c)	Non-income producing security.

BHFTI-370

Brighthouse Funds Trust I

SSGA Growth and Income ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ETF)—	Exchange-Traded Fund
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	2,466,631,407	$	—		$	—	$	2,466,631,407
Total Short-Term Investment*		64,607,180		—			—		64,607,180
Total Securities Lending Reinvestments*		—		591,434,736			—		591,434,736
Total Investments	$	2,531,238,587	$	591,434,736		$	—	$	3,122,673,323
Collateral for Securities Loaned (Liability)	$	—	$	(591,271,885	)	$	—	$	(591,271,885	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-371

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mutual Funds—97.4% of Net Assets

Security Description	Shares/ Principal Amount*		Value
Investment Company Securities—97.4%
Financial Select Sector SPDR Fund (a) (b)		664,914	$	18,331,679
Industrial Select Sector SPDR Fund (a) (b)		251,860		18,710,679
iShares 20+ Year Treasury Bond ETF (a)		82,406		10,045,291
iShares Core MSCI Emerging Markets ETF		1,628,360		95,096,224
iShares Core S&P Mid-Cap ETF (a)		252,771		47,412,257
iShares Core S&P Small-Cap ETF (a)		613,182		47,221,146
iShares MSCI Canada ETF (a)		751,722		20,717,458
iShares MSCI EAFE ETF		2,525,853		176,001,437
iShares TIPS Bond ETF		260,218		29,417,645
PowerShares DB Commodity Index Tracking ETF (c)		586,863		9,964,934
SPDR Bloomberg Barclays High Yield Bond ETF (a) (b)		1,079,216		38,689,894
SPDR Dow Jones International Real Estate ETF (a) (b)		243,603		9,748,992
SPDR S&P 500 ETF Trust (a) (b)		1,163,348		306,135,026
SPDR S&P International Small Cap ETF (b)		815,943		28,876,223
Technology Select Sector SPDR Fund (a) (b)		278,851		18,242,433
Vanguard FTSE Pacific ETF		331,439		24,178,475
Vanguard REIT ETF (a)		129,658		9,785,289
Vanguard Total Bond Market ETF		122,567		9,796,780
Total Mutual Funds (Cost $781,444,837)				918,371,862
Short-Term Investment—2.5%
Mutual Fund—2.5%
AIM STIT-STIC Prime Portfolio		23,870,262		23,870,262
Total Short-Term Investments (Cost $23,870,262)				23,870,262
Securities Lending Reinvestments (d)—22.4%
Certificates of Deposit—9.3%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (e)		5,000,000		4,999,650
2.028%, 1M LIBOR + 0.220%, 07/17/18 (e)		4,000,000		3,998,468
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (e)		5,000,000		4,999,295
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (e)		5,000,000		4,999,440
1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		1,500,000		1,499,937
2.062%, 1M LIBOR + 0.190%, 04/25/18 (e)		5,000,000		4,999,865
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (e)		3,500,000		3,499,237
1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		1,500,000		1,499,909
2.077%, 1M LIBOR + 0.200%, 05/30/18 (e)		5,000,000		4,999,170
Mizuho Bank, Ltd., New York 1.940%, 1M LIBOR + 0.200%, 04/11/18 (e)		7,000,000		7,000,154
Norinchukin Bank New York 1.846%, 1M LIBOR + 0.160%, 04/05/18 (e)		5,000,000		4,999,915
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (e)		7,500,000		7,485,675
Certificates of Deposit—(Continued)
Standard Chartered plc 1.864%, 1M LIBOR + 0.200%, 05/01/18 (e)		3,000,000		2,999,352
2.154%, 1M LIBOR + 0.300%, 08/22/18 (e)		1,500,000		1,499,856
2.250%, 08/21/18		2,500,000		2,498,950
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (e)		4,500,000		4,496,625
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (e)		6,000,000		5,999,784
1.930%, 1M LIBOR + 0.190%, 04/12/18 (e)		2,500,000		2,499,892
2.157%, 1M LIBOR + 0.280%, 07/30/18 (e)		2,500,000		2,499,905
Wells Fargo Bank N.A. 1.893%, 3M LIBOR + 0.140%, 10/26/18 (e)		8,000,000		8,003,076
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (e)		2,000,000		1,999,822
				87,477,977
Commercial Paper—5.2%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (e)		3,000,000		2,999,727
Danske Corp. 2.080%, 06/04/18		3,977,813		3,984,868
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		3,987,151		3,995,696
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (e)		3,000,000		2,998,932
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/08/18		4,972,528		4,979,790
Ridgefield Funding Co. LLC 1.800%, 04/03/18		9,955,000		9,999,500
2.018%, 1M LIBOR + 0.210%, 05/17/18 (e)		8,000,000		7,998,848
Sheffield Receivables Co. 1.892%, 1M LIBOR + 0.190%, 06/07/18 (e)		2,499,746		2,499,820
2.080%, 05/21/18		2,487,144		2,492,680
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (e)		7,000,000		6,998,992
				48,948,853
Master Demand Notes—0.9%
Natixis Financial Products LLC 1.930%, OBFR + 0.250%, 04/02/18 (e)		8,000,000		8,000,000
Repurchase Agreements—6.0%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $1,651,538; collateralized by various Common Stock with an aggregate market value of $1,760,000.		1,600,000		1,600,000
Deutsche Bank AG, London Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $3,562,954; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,887,492.		3,500,000		3,500,000

BHFTI-372

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $10,397,252; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $10,603,204.		10,395,277	$	10,395,277
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $3,632,468; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $3,786,941.		3,500,000		3,500,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $10,205,656; collateralized by various Common Stock with an aggregate market value of $11,000,001.		10,000,000		10,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $9,861,944; collateralized by various Common Stock with an aggregate market value of $10,900,147.		9,800,000		9,800,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $11,009,610; collateralized by various Common Stock with an aggregate market value of $12,234,859.		11,000,000		11,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $2,002,089; collateralized by various Common Stock with an aggregate market value of $2,224,520.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $5,006,319; collateralized by various Common Stock with an aggregate market value of $5,558,620.		5,000,000		5,000,000
				56,795,277
Time Deposit—1.0%
Australia New Zealand Bank 1.670%, 04/02/18		9,000,000		9,000,000
Total Securities Lending Reinvestments (Cost $210,249,029)				210,222,107
Total Investments—122.3% (Cost $1,015,564,128)				1,152,464,231
Other assets and liabilities (net)—(22.3)%				(209,841,114	)
Net Assets—100.0%			$	942,623,117

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $207,954,606 and the collateral received consisted of cash in the amount of $210,174,659. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Affiliated Issuer.
(c)	Non-income producing security.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(ETF)—	Exchange-Traded Fund
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate
(OBFR)—	U.S. Overnight Bank Funding Rate

BHFTI-373

Brighthouse Funds Trust I

SSGA Growth ETF Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Mutual Funds
Investment Company Securities	$	918,371,862	$	—		$	—	$	918,371,862
Total Short-Term Investment*		23,870,262		—			—		23,870,262
Total Securities Lending Reinvestments*		—		210,222,107			—		210,222,107
Total Investments	$	942,242,124	$	210,222,107		$	—	$	1,152,464,231
Collateral for Securities Loaned (Liability)	$	—	$	(210,174,659	)	$	—	$	(210,174,659	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-374

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—96.3% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.1%
Boeing Co. (The)		181,905	$	59,643,012
Raytheon Co.		112,304		24,237,449
United Technologies Corp.		191,350		24,075,657
				107,956,118
Air Freight & Logistics—0.8%
United Parcel Service, Inc. - Class B		272,879		28,559,516
Airlines—1.3%
Southwest Airlines Co. (a)		795,758		45,581,018
Auto Components—1.2%
Magna International, Inc.		702,437		39,582,325
Automobiles—0.2%
General Motors Co.		229,501		8,340,066
Banks—14.8%
Citigroup, Inc.		1,269,256		85,674,780
Fifth Third Bancorp (a)		2,395,356		76,052,553
First Republic Bank (a)		55,181		5,110,312
JPMorgan Chase & Co.		1,581,135		173,877,416
Signature Bank (b)		84,000		11,923,800
U.S. Bancorp		1,157,990		58,478,495
Wells Fargo & Co.		1,924,546		100,865,456
				511,982,812
Beverages—1.1%
PepsiCo, Inc.		348,722		38,063,006
Biotechnology—1.0%
Gilead Sciences, Inc.		452,331		34,101,234
Building Products—1.3%
Johnson Controls International plc (a)		1,256,270		44,270,955
Capital Markets—4.2%
Ameriprise Financial, Inc. (a)		19,315		2,857,461
Bank of New York Mellon Corp. (The)		993,505		51,195,313
Morgan Stanley (a)		1,693,390		91,375,324
				145,428,098
Chemicals—2.3%
CF Industries Holdings, Inc. (a)		793,191		29,927,096
DowDuPont, Inc. (a)		782,607		49,859,892
				79,786,988
Commercial Services & Supplies—0.5%
Stericycle, Inc. (a) (b)		264,721		15,494,120
Communications Equipment—2.3%
Cisco Systems, Inc.		1,871,857		80,283,947
Construction Materials—0.7%
Vulcan Materials Co. (a)		205,003		23,405,193
Containers & Packaging—1.1%
International Paper Co.		735,150		39,279,064
Diversified Telecommunication Services—1.7%
Verizon Communications, Inc.		1,225,053		58,582,034
Electric Utilities—4.9%
Exelon Corp.		788,220		30,748,462
PG&E Corp. (a)		956,170		42,004,548
Southern Co. (The) (a)		1,311,245		58,560,202
Westar Energy, Inc.		699,157		36,768,667
				168,081,879
Electronic Equipment, Instruments & Components—1.0%
TE Connectivity, Ltd.		346,394		34,604,761
Equity Real Estate Investment Trusts—1.3%
SL Green Realty Corp. (a)		115,000		11,135,450
Weyerhaeuser Co. (a)		948,433		33,195,155
				44,330,605
Food & Staples Retailing—2.3%
CVS Health Corp. (a)		454,000		28,243,340
Walmart, Inc.		588,884		52,393,009
				80,636,349
Food Products—3.6%
Bunge, Ltd.		580,086		42,891,559
Tyson Foods, Inc. - Class A		1,105,096		80,881,976
				123,773,535
Health Care Equipment & Supplies—3.5%
Becton Dickinson & Co.		123,312		26,721,710
Hologic, Inc. (a) (b)		888,918		33,209,977
Medtronic plc		775,593		62,218,070
				122,149,757
Health Care Providers & Services—1.8%
Aetna, Inc.		376,238		63,584,222
Hotels, Restaurants & Leisure—1.2%
Carnival Corp.		329,813		21,629,137
Las Vegas Sands Corp.		292,976		21,064,974
				42,694,111
Household Products—1.1%
Kimberly-Clark Corp.		333,513		36,729,787
Industrial Conglomerates—0.4%
General Electric Co.		987,449		13,310,813
Insurance—6.2%
American International Group, Inc.		703,345		38,276,035
Chubb, Ltd. (a)		569,368		77,872,461
Loews Corp. (a)		788,960		39,234,981

BHFTI-375

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Insurance—(Continued)
Marsh & McLennan Cos., Inc.		500,229	$	41,313,913
XL Group, Ltd.		340,392		18,810,062
				215,507,452
Leisure Products—0.4%
Mattel, Inc. (a)		1,040,955		13,688,558
Life Sciences Tools & Services—0.5%
Thermo Fisher Scientific, Inc.		86,175		17,791,691
Machinery—0.8%
Illinois Tool Works, Inc.		179,351		28,097,128
Media—3.4%
Comcast Corp. - Class A		1,045,209		35,714,791
News Corp. - Class A		1,423,236		22,487,129
Twenty-First Century Fox, Inc. - Class B		1,640,262		59,656,329
				117,858,249
Multiline Retail—0.6%
Kohl’s Corp. (a)		327,064		21,425,963
Oil, Gas & Consumable Fuels—9.3%
Apache Corp. (a)		382,177		14,706,171
Canadian Natural Resources, Ltd.		723,258		22,760,929
EQT Corp. (a)		349,040		16,582,891
Exxon Mobil Corp.		933,617		69,657,164
Hess Corp. (a)		749,566		37,943,031
Occidental Petroleum Corp.		585,561		38,038,043
Total S.A. (ADR)		1,557,080		89,827,945
TransCanada Corp. (a)		822,239		33,966,693
				323,482,867
Pharmaceuticals—6.6%
Johnson & Johnson		504,591		64,663,337
Merck & Co., Inc.		1,103,850		60,126,709
Perrigo Co. plc		395,367		32,949,886
Pfizer, Inc.		1,981,695		70,330,355
				228,070,287
Road & Rail—0.6%
Canadian Pacific Railway, Ltd.		124,677		22,005,491
Semiconductors & Semiconductor Equipment—3.4%
Applied Materials, Inc.		469,027		26,082,591
QUALCOMM, Inc.		999,756		55,396,480
Texas Instruments, Inc.		350,703		36,434,535
				117,913,606
Software—3.8%
Microsoft Corp.		1,433,279		130,815,374
Specialty Retail—0.3%
Lowe’s Cos., Inc. (a)		117,213	$	10,285,441
Tobacco—1.7%
Philip Morris International, Inc.		594,855		59,128,587
Total Common Stocks (Cost $2,780,675,272)				3,336,663,007
Convertible Preferred Stocks—1.7%
Electric Utilities—0.9%
NextEra Energy, Inc. 6.123%, 09/01/19		534,523		30,820,596
Health Care Equipment & Supplies—0.2%
Becton Dickinson and Co. 6.125%, 05/01/20		131,417		7,678,695
Multi-Utilities—0.6%
Sempra Energy 6.000%, 01/15/21 (a)		205,818		21,069,589
Total Convertible Preferred Stocks (Cost $53,778,109)				59,568,880
Short-Term Investment—1.7%
Mutual Fund—1.7%
T. Rowe Price Treasury Reserve Fund (c)		58,590,878		58,590,878
Total Short-Term Investments (Cost $58,590,878)				58,590,878
Securities Lending Reinvestments (d)—8.9%
Certificates of Deposit—3.1%
Banco Del Estado De Chile New York 2.354%, 1M LIBOR + 0.500%, 09/21/18 (e)		5,000,000		4,999,675
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (e)		3,000,000		2,998,692
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (e)		5,000,000		5,000,120
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (e)		3,000,000		2,999,904
China Construction Bank 1.950%, 04/20/18		4,000,000		3,999,584
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (e)		3,000,000		2,999,475
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (e)		5,000,000		5,000,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (e)		5,000,000		4,999,295
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (e)		4,000,000		3,999,552
1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		1,500,000		1,499,937
2.230%, FEDEFF PRV + 0.550%, 09/07/18 (e)		2,000,000		2,000,000

BHFTI-376

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (e)		2,000,000	$	1,999,564
1.976%, 1M LIBOR + 0.190%, 04/16/18 (e)		2,500,000		2,499,847
2.077%, 1M LIBOR + 0.200%, 05/30/18 (e)		3,000,000		2,999,502
Mizuho Bank, Ltd., New York 2.077%, 1M LIBOR + 0.200%, 05/29/18 (e)		7,500,000		7,499,370
Natixis New York 2.220%, 06/11/18		2,000,000		2,000,332
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (e)		6,000,000		5,996,364
Royal Bank of Canada New York 2.222%, 1M LIBOR + 0.400%, 09/17/18 (e)		7,000,000		6,998,418
2.301%, 1M LIBOR + 0.440%, 09/17/18 (e)		5,000,000		4,999,295
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (e)		2,000,000		1,999,808
2.250%, 08/21/18		2,000,000		1,999,160
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (e)		2,500,000		2,498,125
2.071%, 1M LIBOR + 0.230%, 05/21/18 (e)		4,500,000		4,500,000
Sumitomo Mitsui Banking Corp., New York 1.916%, 1M LIBOR + 0.230%, 09/05/18 (e)		2,000,000		1,999,190
2.010%, 1M LIBOR + 0.270%, 09/10/18 (e)		2,000,000		1,999,402
2.157%, 1M LIBOR + 0.280%, 07/30/18 (e)		1,000,000		999,962
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (e)		6,000,000		5,999,832
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (e)		5,750,000		5,749,914
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (e)		3,000,000		2,999,733
				106,234,052
Commercial Paper—1.0%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (e)		7,500,000		7,499,317
Danske Corp. 2.080%, 06/04/18		5,966,720		5,977,302
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		3,987,151		3,995,696
Macquarie Bank, Ltd., London 2.020%, 05/16/18		4,975,031		4,987,345
Sheffield Receivables Co. 2.080%, 05/21/18		5,969,147		5,982,432
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (e)		7,500,000		7,498,920
				35,941,012
Repurchase Agreements—3.5%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $7,701,497; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $7,854,042.		7,700,000		7,700,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $4,400,856; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $4,488,010.		4,400,000		4,400,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $4,200,840; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $4,284,028.		4,200,000		4,200,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,406,682; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,554,997.		1,400,000		1,400,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $10,896,266; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $12,090,101.		10,885,000		10,885,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $3,308,458; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $3,609,814.		3,250,000		3,250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $3,789,651; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $3,864,717.		3,788,931		3,788,931
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,075,696; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,163,966.		2,000,000		2,000,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $11,226,221; collateralized by various Common Stock with an aggregate market value of $12,100,001.		11,000,000		11,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $5,736,029; collateralized by various Common Stock with an aggregate market value of $6,339,882.		5,700,000		5,700,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $10,008,736; collateralized by various Common Stock with an aggregate market value of $11,122,599.		10,000,000		10,000,000

BHFTI-377

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (d)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $7,007,311; collateralized by various Common Stock with an aggregate market value of $7,785,819.		7,000,000	$	7,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $2,000,396; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $2,040,000.		2,000,000		2,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $15,018,958; collateralized by various Common Stock with an aggregate market value of $16,675,859.		15,000,000		15,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $20,017,189; collateralized by various Common Stock with an aggregate market value of $22,234,478.		20,000,000		20,000,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $15,003,792; collateralized by various Common Stock with an aggregate market value of $16,675,859.		15,000,000		15,000,000
				123,323,931
Time Deposits—1.3%
ABN AMRO Bank NV 1.680%, 04/02/18		12,000,000		12,000,000
Australia New Zealand Bank 1.670%, 04/02/18		10,000,000		10,000,000
DNB Bank ASA 1.640%, 04/02/18		5,000,000		5,000,000
DZ Bank AG 1.670%, 04/02/18		5,000,000		5,000,000
Time Deposits—(Continued)
Nordea Bank New York 1.640%, 04/02/18		5,000,000		5,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		8,000,000		8,000,000
				45,000,000
Total Securities Lending Reinvestments (Cost $310,518,840)				310,498,995
Total Investments—108.6% (Cost $3,203,563,099)				3,765,321,760
Other assets and liabilities (net)—(8.6)%				(299,713,730	)
Net Assets—100.0%			$	3,465,608,030

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $304,663,140 and the collateral received consisted of cash in the amount of $310,471,979. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Affiliated Issuer.
(d)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(e)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

Glossary of Abbreviations

Other Abbreviations

(ADR)—	American Depositary Receipt
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

BHFTI-378

Brighthouse Funds Trust I

T. Rowe Price Large Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	3,336,663,007	$	—		$	—	$	3,336,663,007
Total Convertible Preferred Stocks*		59,568,880		—			—		59,568,880
Total Short-Term Investment*		58,590,878		—			—		58,590,878
Total Securities Lending Reinvestments*		—		310,498,995			—		310,498,995
Total Investments	$	3,454,822,765	$	310,498,995		$	—	$	3,765,321,760
Collateral for Securities Loaned (Liability)	$	—	$	(310,471,979	)	$	—	$	(310,471,979	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-379

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—92.5% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—4.4%
BWX Technologies, Inc. (a)		102,000	$	6,480,060
Harris Corp.		176,000		28,385,280
Maxar Technologies, Ltd. (a)		93,276		4,314,015
Textron, Inc.		653,000		38,507,410
				77,686,765
Airlines—0.6%
United Continental Holdings, Inc. (b)		144,000		10,003,680
Auto Components—0.4%
Aptiv plc		86,000		7,307,420
Automobiles—0.2%
Ferrari NV		28,000		3,374,560
Banks—0.8%
Fifth Third Bancorp		288,000		9,144,000
Webster Financial Corp. (a)		89,000		4,930,600
				14,074,600
Biotechnology—2.6%
Alkermes plc (a) (b)		332,000		19,242,720
Alnylam Pharmaceuticals, Inc. (a) (b)		102,000		12,148,200
Incyte Corp. (b)		71,000		5,916,430
Sage Therapeutics, Inc. (a) (b)		11,300		1,820,091
Seattle Genetics, Inc. (a) (b)		100,000		5,234,000
TESARO, Inc. (a) (b)		21,000		1,199,940
				45,561,381
Building Products—0.8%
Allegion plc		173,000		14,755,170
Capital Markets—3.6%
Cboe Global Markets, Inc.		146,000		16,658,600
KKR & Co. L.P.		348,000		7,064,400
MarketAxess Holdings, Inc. (a)		27,000		5,870,880
MSCI, Inc. (a)		15,000		2,242,050
Oaktree Capital Group LLC		70,123		2,776,871
TD Ameritrade Holding Corp.		477,000		28,252,710
				62,865,511
Chemicals—2.5%
Air Products & Chemicals, Inc.		116,000		18,447,480
Ashland Global Holdings, Inc. (a)		20,000		1,395,800
RPM International, Inc. (a)		235,000		11,202,450
Valvoline, Inc. (a)		632,000		13,986,160
				45,031,890
Commercial Services & Supplies—1.9%
ADT, Inc. (a)		344,000		2,727,920
KAR Auction Services, Inc.		231,000		12,520,200
Waste Connections, Inc.		258,000		18,508,920
				33,757,040
Construction Materials—0.5%
Martin Marietta Materials, Inc.		43,000		8,913,900
Consumer Finance—0.3%
SLM Corp. (b)		517,000		5,795,570
Containers & Packaging—1.2%
Ardagh Group S.A.		35,000		653,800
Ball Corp.		523,000		20,768,330
				21,422,130
Diversified Consumer Services—0.7%
ServiceMaster Global Holdings, Inc. (b)		225,354		11,459,251
Electrical Equipment—1.9%
Acuity Brands, Inc. (a)		44,000		6,124,360
Sensata Technologies Holding plc (a) (b)		543,000		28,143,690
				34,268,050
Electronic Equipment, Instruments & Components—3.1%
Coherent, Inc. (a) (b)		33,000		6,184,200
Corning, Inc.		461,000		12,852,680
Keysight Technologies, Inc. (b)		584,000		30,595,760
National Instruments Corp. (a)		119,000		6,017,830
				55,650,470
Food & Staples Retailing—1.0%
Casey’s General Stores, Inc. (a)		93,000		10,208,610
Sprouts Farmers Market, Inc. (a) (b)		316,000		7,416,520
				17,625,130
Food Products—0.8%
Conagra Brands, Inc.		203,000		7,486,640
TreeHouse Foods, Inc. (a) (b)		193,000		7,386,110
				14,872,750
Gas Utilities—0.3%
Atmos Energy Corp.		69,000		5,812,560
Health Care Equipment & Supplies—6.7%
Cooper Cos., Inc. (The)		122,000		27,914,820
DENTSPLY SIRONA, Inc.		71,000		3,572,010
DexCom, Inc. (a) (b)		101,000		7,490,160
Hologic, Inc. (a) (b)		709,000		26,488,240
IDEXX Laboratories, Inc. (b)		22,000		4,210,580
Teleflex, Inc.		159,000		40,541,820
West Pharmaceutical Services, Inc. (a)		87,000		7,681,230
				117,898,860
Health Care Providers & Services—1.9%
Acadia Healthcare Co., Inc. (a) (b)		204,000		7,992,720
Envision Healthcare Corp. (a) (b)		374,671		14,398,606
MEDNAX, Inc. (a) (b)		216,000		12,016,080
				34,407,406

BHFTI-380

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Health Care Technology—0.5%
athenahealth, Inc. (a) (b)		27,000	$	3,861,810
Veeva Systems, Inc. - Class A (a) (b)		69,000		5,038,380
				8,900,190
Hotels, Restaurants & Leisure—5.9%
Aramark		280,000		11,076,800
Dunkin’ Brands Group, Inc. (a)		148,000		8,834,120
Marriott International, Inc. - Class A		174,000		23,660,520
MGM Resorts International (a)		416,000		14,568,320
Norwegian Cruise Line Holdings, Ltd. (b)		488,000		25,849,360
Royal Caribbean Cruises, Ltd.		58,000		6,828,920
Vail Resorts, Inc. (a)		64,000		14,188,800
				105,006,840
Industrial Conglomerates—1.8%
Roper Technologies, Inc.		114,000		31,998,660
Insurance—4.3%
Axis Capital Holdings, Ltd.		1,429		82,267
FNF Group		610,000		24,412,200
Progressive Corp. (The)		406,000		24,737,580
Willis Towers Watson plc		174,000		26,481,060
				75,713,107
Internet & Direct Marketing Retail—0.6%
Expedia Group, Inc. (a)		98,000		10,820,180
Internet Software & Services—2.0%
Dropbox, Inc. - Class A (a) (b)		17,446		545,187
IAC/InterActiveCorp (b)		124,000		19,391,120
Match Group, Inc. (a) (b)		139,000		6,177,160
Shopify, Inc. - Class A (a) (b)		29,000		3,613,110
VeriSign, Inc. (a) (b)		13,787		1,634,587
Zillow Group, Inc. - Class A (a) (b)		31,000		1,674,000
Zillow Group, Inc. - Class C (a) (b)		28,000		1,506,400
				34,541,564
IT Services—7.6%
Black Knight, Inc. (b)		263,000		12,387,300
CoreLogic, Inc. (b)		291,000		13,161,930
CSRA, Inc.		361,000		14,884,030
Fidelity National Information Services, Inc.		101,000		9,726,300
Fiserv, Inc. (b)		290,000		20,679,900
FleetCor Technologies, Inc. (b)		58,000		11,745,000
Gartner, Inc. (a) (b)		57,000		6,704,340
Global Payments, Inc.		188,000		20,965,760
Worldpay, Inc. - Class A (b)		289,000		23,767,360
				134,021,920
Life Sciences Tools & Services—3.3%
Agilent Technologies, Inc.		404,000		27,027,600
Bruker Corp. (a)		550,000		16,456,000
Illumina, Inc. (b)		23,000		5,437,660
IQVIA Holdings, Inc. (b)		101,000		9,909,110
				58,830,370
Machinery—4.4%
Colfax Corp. (b)		289,000		9,219,100
Fortive Corp.		220,000		17,054,400
Gardner Denver Holdings, Inc. (a) (b)		193,000		5,921,240
IDEX Corp. (a)		202,000		28,787,020
Xylem, Inc. (a)		215,000		16,537,800
				77,519,560
Metals & Mining—0.5%
Franco-Nevada Corp.		116,000		7,933,240
Multi-Utilities—0.5%
Sempra Energy (a)		86,000		9,564,920
Multiline Retail—1.7%
Dollar General Corp.		323,000		30,216,650
Oil, Gas & Consumable Fuels—1.3%
ARC Resources, Ltd. (a)		307,000		3,345,582
Centennial Resource Development, Inc. - Class A (a) (b)		224,000		4,110,400
Centennial Resource Development, Inc. - Class A (b)		63,000		1,156,050
Concho Resources, Inc. (b)		87,000		13,078,710
Venture Global LNG, Inc. - Series B (b) (c) (d) (e)		78		235,560
Venture Global LNG, Inc. - Series C (b) (c) (d) (e)		540		1,630,800
				23,557,102
Pharmaceuticals—1.0%
Catalent, Inc. (a) (b)		347,000		14,247,820
Zoetis, Inc.		36,568		3,053,794
				17,301,614
Professional Services—3.3%
CoStar Group, Inc. (b)		29,000		10,517,720
Equifax, Inc.		46,000		5,419,260
IHS Markit, Ltd. (b)		216,000		10,419,840
TransUnion (b)		243,000		13,797,540
Verisk Analytics, Inc. (b)		179,000		18,616,000
				58,770,360
Real Estate Management & Development—0.1%
WeWork Cos., Inc. - Class A (b) (c) (d) (e)		34,388		1,576,690
Road & Rail—0.8%
J.B. Hunt Transport Services, Inc. (a)		29,000		3,397,350
Kansas City Southern		100,000		10,985,000
				14,382,350
Semiconductors & Semiconductor Equipment—4.9%
Marvell Technology Group, Ltd. (a)		620,000		13,020,000
Maxim Integrated Products, Inc.		144,000		8,671,680
Microchip Technology, Inc. (a)		393,000		35,904,480
Microsemi Corp. (b)		102,000		6,601,440
Qorvo, Inc. (b)		58,000		4,086,100
Xilinx, Inc.		244,000		17,626,560
				85,910,260

BHFTI-381

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Software—5.8%
Atlassian Corp. plc - Class A (b)		211,000	$	11,377,120
CDK Global, Inc.		133,000		8,424,220
Electronic Arts, Inc. (b)		57,000		6,910,680
Guidewire Software, Inc. (a) (b)		70,000		5,658,100
Red Hat, Inc. (b)		116,000		17,343,160
ServiceNow, Inc. (b)		23,000		3,805,350
Splunk, Inc. (a) (b)		46,000		4,525,940
SS&C Technologies Holdings, Inc.		175,000		9,387,000
Symantec Corp.		360,000		9,306,000
Tableau Software, Inc. - Class A (b)		106,000		8,566,920
Workday, Inc. - Class A (a) (b)		130,000		16,524,300
				101,828,790
Specialty Retail—2.7%
Burlington Stores, Inc. (b)		87,000		11,584,050
CarMax, Inc. (b)		190,000		11,768,600
Michaels Cos., Inc. (The) (a) (b)		230,000		4,533,300
O’Reilly Automotive, Inc. (b)		58,000		14,348,040
Ulta Salon Cosmetics & Fragrance, Inc. (b)		29,000		5,923,830
				48,157,820
Textiles, Apparel & Luxury Goods—2.4%
PVH Corp.		46,000		6,965,780
Tapestry, Inc.		661,000		34,775,210
				41,740,990
Trading Companies & Distributors—0.9%
HD Supply Holdings, Inc. (b)		407,000		15,441,580
Total Common Stocks (Cost $1,107,089,681)				1,636,278,851
Convertible Preferred Stocks—0.6%
Internet Software & Services—0.2%
Roofoods, Ltd. - Series F (b) (c) (d) (e)		7,253		2,564,447
Real Estate Management & Development—0.4%
WeWork Cos., Inc. - Series D1 (b) (c) (d) (e)		89,839		4,119,118
WeWork Cos., Inc. - Series D2 (b) (c) (d) (e)		70,588		3,236,460
				7,355,578
Total Convertible Preferred Stocks (Cost $5,235,743)				9,920,025
Short-Term Investment—7.0%
Mutual Fund—7.0%
T. Rowe Price Treasury Reserve Fund (f)		124,033,285		124,033,285
Total Short-Term Investments (Cost $124,033,285)				124,033,285

Securities Lending Reinvestments (g)—18.3%
Security Description	Principal Amount*		Value
Certificates of Deposit—10.6%
Banco Del Estado De Chile New York 1.985%, 1M LIBOR + 0.220%, 05/14/18 (h)		5,000,000	$	4,999,650
2.354%, 1M LIBOR + 0.500%, 09/21/18 (h)		5,000,000		4,999,675
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (h)		10,000,000		9,995,640
Barclays Capital, plc 1.956%, 1M LIBOR + 0.270%, 08/03/18 (h)		7,000,000		6,999,482
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (h)		7,500,000		7,500,180
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (h)		5,000,000		4,999,840
China Construction Bank 1.950%, 04/20/18		8,000,000		7,999,168
Citigroup Global Markets, Ltd. 2.070%, 1M LIBOR + 0.330%, 09/12/18 (h)		4,000,000		3,999,300
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (h)		8,500,000		8,500,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (h)		9,000,000		8,998,731
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (h)		8,000,000		7,999,664
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (h)		2,000,000		1,999,564
1.976%, 1M LIBOR + 0.190%, 04/16/18 (h)		10,000,000		9,999,390
Mizuho Bank, Ltd., New York 1.891%, 1M LIBOR + 0.200%, 04/06/18 (h)		2,000,000		1,999,970
1.940%, 1M LIBOR + 0.200%, 04/11/18 (h)		2,500,000		2,500,055
2.008%, 1M LIBOR + 0.200%, 04/18/18 (h)		4,000,000		3,999,944
2.077%, 1M LIBOR + 0.200%, 05/29/18 (h)		3,000,000		2,999,748
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (h)		2,000,000		1,999,828
2.220%, 06/11/18		2,000,000		2,000,332
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (h)		2,000,000		1,996,180
2.201%, 3M LIBOR + 0.130%, 06/12/18 (h)		10,000,000		9,996,630
2.301%, 1M LIBOR + 0.440%, 09/17/18 (h)		1,000,000		999,859
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (h)		7,000,000		6,999,419
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (h)		4,000,000		3,999,616
2.250%, 08/21/18		4,000,000		3,998,320
State Street Bank and Trust Co. 1.831%, 1M LIBOR + 0.120%, 05/08/18 (h)		3,000,000		2,999,838
Sumitomo Mitsui Banking Corp., London 2.038%, 1M LIBOR + 0.230%, 05/17/18 (h)		5,000,000		4,996,250
Sumitomo Mitsui Banking Corp., New York 1.916%, 1M LIBOR + 0.230%, 09/05/18 (h)		3,000,000		2,998,785
1.920%, 1M LIBOR + 0.180%, 04/11/18 (h)		7,000,000		6,999,748
1.930%, 1M LIBOR + 0.190%, 04/12/18 (h)		3,000,000		2,999,871
2.000%, 05/21/18		2,000,000		2,000,010
2.010%, 1M LIBOR + 0.270%, 09/10/18 (h)		6,000,000		5,998,206
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (h)		10,000,000		9,999,720
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (h)		7,500,000		7,499,887

BHFTI-382

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (g)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (h)		8,000,000	$	7,999,288
				186,971,788
Commercial Paper—2.1%
Antalis S.A. 2.150%, 06/05/18		1,989,131		1,992,314
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (h)		4,000,000		3,999,636
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		7,974,302		7,991,392
ING Funding LLC 1.930%, 1M LIBOR + 0.190%, 08/10/18 (h)		4,000,000		3,998,576
Macquarie Bank, Ltd., London 2.020%, 05/16/18		6,965,043		6,982,283
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (h)		12,000,000		11,998,272
				36,962,473
Repurchase Agreements—5.6%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $1,800,360; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $1,836,012.		1,800,000		1,800,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $1,607,636; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,777,139.		1,600,000		1,600,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $10,010,350; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $11,107,120.		10,000,000		10,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $7,380,405; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $8,052,662.		7,250,000		7,250,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $8,346,938; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $8,512,277.		8,345,353		8,345,353
Repurchase Agreements—(Continued)
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $15,308,483; collateralized by various Common Stock with an aggregate market value of $16,500,002.		15,000,000		15,000,000
Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $3,840,038; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $4,003,338.		3,700,000		3,700,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $7,346,142; collateralized by various Common Stock with an aggregate market value of $8,119,497.		7,300,000		7,300,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $5,004,368; collateralized by various Common Stock with an aggregate market value of $5,561,300.		5,000,000		5,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $6,006,267; collateralized by various Common Stock with an aggregate market value of $6,673,560.		6,000,000		6,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $10,001,978; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $10,200,000.		10,000,000		10,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $9,011,375; collateralized by various Common Stock with an aggregate market value of $10,005,515.		9,000,000		9,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $6,005,157; collateralized by various Common Stock with an aggregate market value of $6,670,344.		6,000,000		6,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $9,005,460; collateralized by various Common Stock with an aggregate market value of $10,005,515.		9,000,000		9,000,000
				99,995,353
Total Securities Lending Reinvestments (Cost $323,962,586)				323,929,614
Total Investments—118.4% (Cost $1,560,321,295)				2,094,161,775
Other assets and liabilities (net)—(18.4)%				(325,220,257	)
Net Assets—100.0%			$	1,768,941,518

BHFTI-383

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $318,868,476 and the collateral received consisted of cash in the amount of $323,923,828. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Security was valued in good faith under procedures approved by the Board of Trustees. As of March 31, 2018, these securities represent 0.8% of net assets.
(d)	Restricted securities are not registered under the Securities Act of 1933 and are subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult. As of March 31, 2018, the market value of restricted securities was $13,363,075, which is 0.8% of net assets. See details shown in the Restricted Securities table that follows.
(e)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e. Level 3.
(f)	Affiliated Issuer.
(g)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(h)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Restricted Securities	Acquisition Date		Shares		Cost		Value
Roofoods, Ltd. - Series F		09/12/17		7,253	$	2,564,447	$	2,564,447
Venture Global LNG, Inc. - Series B		03/08/18		78		235,560		235,560
Venture Global LNG, Inc. - Series C		10/16/17		540		1,987,525		1,630,800
WeWork Cos., Inc. - Class A		12/09/14-05/26/15		34,388		498,861		1,576,690
WeWork Cos., Inc. - Series D1		12/09/14		89,839		1,495,924		4,119,118
WeWork Cos., Inc. - Series D2		12/09/14		70,588		1,175,372		3,236,460
							$	13,363,075

BHFTI-384

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2		Level 3		Total
Common Stocks
Aerospace & Defense	$	77,686,765	$	—	$	—	$	77,686,765
Airlines		10,003,680		—		—		10,003,680
Auto Components		7,307,420		—		—		7,307,420
Automobiles		3,374,560		—		—		3,374,560
Banks		14,074,600		—		—		14,074,600
Biotechnology		45,561,381		—		—		45,561,381
Building Products		14,755,170		—		—		14,755,170
Capital Markets		62,865,511		—		—		62,865,511
Chemicals		45,031,890		—		—		45,031,890
Commercial Services & Supplies		33,757,040		—		—		33,757,040
Construction Materials		8,913,900		—		—		8,913,900
Consumer Finance		5,795,570		—		—		5,795,570
Containers & Packaging		21,422,130		—		—		21,422,130
Diversified Consumer Services		11,459,251		—		—		11,459,251
Electrical Equipment		34,268,050		—		—		34,268,050
Electronic Equipment, Instruments & Components		55,650,470		—		—		55,650,470
Food & Staples Retailing		17,625,130		—		—		17,625,130
Food Products		14,872,750		—		—		14,872,750
Gas Utilities		5,812,560		—		—		5,812,560
Health Care Equipment & Supplies		117,898,860		—		—		117,898,860
Health Care Providers & Services		34,407,406		—		—		34,407,406
Health Care Technology		8,900,190		—		—		8,900,190
Hotels, Restaurants & Leisure		105,006,840		—		—		105,006,840
Industrial Conglomerates		31,998,660		—		—		31,998,660
Insurance		75,713,107		—		—		75,713,107
Internet & Direct Marketing Retail		10,820,180		—		—		10,820,180
Internet Software & Services		34,541,564		—		—		34,541,564
IT Services		134,021,920		—		—		134,021,920
Life Sciences Tools & Services		58,830,370		—		—		58,830,370
Machinery		77,519,560		—		—		77,519,560
Metals & Mining		7,933,240		—		—		7,933,240
Multi-Utilities		9,564,920		—		—		9,564,920
Multiline Retail		30,216,650		—		—		30,216,650
Oil, Gas & Consumable Fuels		21,690,742		—		1,866,360		23,557,102
Pharmaceuticals		17,301,614		—		—		17,301,614
Professional Services		58,770,360		—		—		58,770,360
Real Estate Management & Development		—		—		1,576,690		1,576,690
Road & Rail		14,382,350		—		—		14,382,350
Semiconductors & Semiconductor Equipment		85,910,260		—		—		85,910,260
Software		101,828,790		—		—		101,828,790

BHFTI-385

Brighthouse Funds Trust I

T. Rowe Price Mid Cap Growth Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Fair Value Hierarchy—(Continued)

Description	Level 1		Level 2			Level 3		Total
Specialty Retail	$	48,157,820	$	—		$	—	$	48,157,820
Textiles, Apparel & Luxury Goods		41,740,990		—			—		41,740,990
Trading Companies & Distributors		15,441,580		—			—		15,441,580
Total Common Stocks		1,632,835,801		—			3,443,050		1,636,278,851
Total Convertible Preferred Stocks*		—		—			9,920,025		9,920,025
Total Short-Term Investment*		124,033,285		—			—		124,033,285
Total Securities Lending Reinvestments*		—		323,929,614			—		323,929,614
Total Investments	$	1,756,869,086	$	323,929,614		$	13,363,075	$	2,094,161,775
Collateral for Securities Loaned (Liability)	$	—	$	(323,923,828	)	$	—	$	(323,923,828	)

* See Schedule of Investments for additional detailed categorizations.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended March 31, 2018 is not presented.

BHFTI-386

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

U.S. Treasury & Government Agencies—58.5% of Net Assets

Security Description	Principal Amount*		Value
Agency Sponsored Mortgage - Backed—30.0%
Fannie Mae 15 Yr. Pool 3.000%, 06/01/32		2,056,605	$	2,055,218
3.000%, TBA (a)		10,800,000		10,785,938
Fannie Mae 30 Yr. Pool 3.000%, 07/01/45		20,637,054		20,228,706
3.000%, 01/01/48		3,372,514		3,292,019
3.000%, TBA (a)		11,290,000		11,011,278
3.500%, 12/01/47		22,466,063		22,531,074
3.500%, 01/01/48		21,768,356		21,835,691
3.500%, 02/01/48		7,945,486		7,970,539
3.500%, 04/01/48		22,450,000		22,515,132
3.500%, TBA (a)		8,995,000		9,013,798
4.000%, 04/01/47		2,018,467		2,073,379
4.000%, 06/01/47		12,978,279		13,337,378
4.000%, 07/01/47		13,484,913		13,858,570
4.000%, 01/01/48		5,282,983		5,432,022
4.000%, TBA (a)		15,110,000		15,505,808
4.500%, 02/01/46		5,525,930		5,799,564
4.500%, TBA (a)		33,440,000		35,014,683
Fannie Mae Pool 2.470%, 01/01/23		2,492,059		2,443,716
2.593%, 04/01/23		11,036,423		10,872,453
2.740%, 03/01/25		2,094,749		2,066,936
2.740%, 03/01/26		3,855,000		3,760,445
2.950%, 05/01/31		4,257,721		4,119,231
3.030%, 03/01/31		1,062,557		1,034,000
3.320%, 08/01/26		1,895,000		1,916,895
3.490%, 02/01/33		4,000,000		4,027,631
3.500%, 01/01/44		7,353,649		7,409,124
3.550%, 03/01/24		4,032,232		4,142,751
3.580%, 03/01/27		2,843,198		2,912,841
4.380%, 04/01/21		4,504,715		4,670,017
4.381%, 06/01/21		5,820,493		6,065,256
4.520%, 08/01/19		4,032,049		4,128,139
4.550%, 10/01/19		4,853,606		4,987,037
4.590%, 08/01/26		2,852,591		3,091,876
Fannie Mae-ACES (CMO) 2.058%, 1M LIBOR + 0.470%, 09/25/24 (b)		10,842,565		10,845,287
2.222%, 1M LIBOR + 0.350%, 05/25/18 (b)		112,719		112,736
2.222%, 1M LIBOR + 0.350%, 08/25/18 (b)		4,543,989		4,546,869
2.486%, 12/25/26 (b)		9,410,000		8,926,850
Freddie Mac 15 Yr. Gold Pool 2.500%, 12/01/31		9,273,943		9,086,580
2.500%, 01/01/32		2,227,437		2,182,420
3.000%, 03/01/31		2,741,295		2,737,737
Freddie Mac 30 Yr. Gold Pool 3.000%, 06/01/46		9,384,660		9,165,705
3.000%, 08/01/46		4,658,976		4,550,244
3.000%, 09/01/46		3,699,055		3,612,712
3.000%, 10/01/46		11,317,845		11,051,911
3.000%, 11/01/46		14,863,312		14,511,763
3.000%, 01/01/47		16,526,545		16,125,177
3.000%, 02/01/47		2,108,834		2,058,525
3.500%, 04/01/45		7,211,812		7,270,703
3.500%, 11/01/45		1,403,100		1,408,847
3.500%, 06/01/46		5,325,046		5,346,851
Agency Sponsored Mortgage - Backed—(Continued)
Freddie Mac 30 Yr. Gold Pool 3.500%, 08/01/46		4,523,948		4,551,379
3.500%, 04/01/47		17,630,616		17,738,224
3.500%, 12/01/47		2,152,001		2,165,137
3.500%, 01/01/48		28,045,381		28,267,226
3.500%, 03/01/48		41,755,814		41,997,222
4.000%, 01/01/45		5,933,636		6,139,240
4.000%, 12/01/45		13,925,184		14,405,595
4.000%, TBA (a)		6,570,000		6,744,259
4.500%, TBA (a)		2,515,000		2,633,185
Freddie Mac Multifamily Structured Pass-Through Certificates (CMO) 2.030%, 1M LIBOR + 0.360%, 08/25/24 (b)		4,464,675		4,479,743
2.951%, 02/25/24		8,949,845		8,982,799
Ginnie Mae II 30 Yr. Pool 3.000%, 10/20/46		3,634,560		3,584,406
3.000%, 12/20/46		10,997,531		10,844,303
3.000%, 04/20/47		2,065,545		2,036,009
3.000%, TBA (a)		11,545,000		11,358,070
3.500%, 04/20/46		8,420,044		8,512,846
3.500%, 05/20/46		3,837,888		3,879,893
3.500%, 06/20/46		859,786		869,064
3.500%, 11/20/46		12,322,505		12,453,553
3.500%, 01/20/47		2,162,751		2,185,752
3.500%, 09/20/47		4,881,470		4,933,493
3.500%, TBA (a)		9,460,000		9,551,828
4.000%, 11/20/47		5,528,502		5,694,319
4.000%, TBA (a)		5,300,000		5,447,717
4.500%, 02/20/47		8,260,208		8,627,223
4.500%, 06/20/47		24,455,284		25,438,790
5.000%, 06/20/47		7,629,367		8,048,497
5.000%, 09/20/47		5,154,932		5,435,745
				670,455,579
U.S. Treasury—28.5%
U.S. Treasury Bond 3.000%, 02/15/48 (c)		134,355,000		135,121,243
U.S. Treasury Inflation Indexed Bond 1.000%, 02/15/48 (d)		8,024,765		8,232,470
U.S. Treasury Notes 2.250%, 03/31/20		56,510,000		56,481,304
2.250%, 11/15/27 (c)		93,270,000		89,342,458
2.375%, 01/31/23 (c)		167,250,000		165,878,028
2.500%, 03/31/23		19,335,000		19,275,333
2.625%, 02/28/23 (c)		119,492,000		119,856,078
2.750%, 02/15/28 (c)		44,540,000		44,562,618
				638,749,532
Total U.S. Treasury & Government Agencies (Cost $1,316,127,435)				1,309,205,111

BHFTI-387

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—31.2%

Security Description	Principal Amount*		Value
Aerospace/Defense—0.7%
L3 Technologies, Inc. 5.200%, 10/15/19		5,250,000	$	5,411,824
Northrop Grumman Corp. 3.250%, 01/15/28 (c)		3,335,000		3,183,368
United Technologies Corp. 1.778%, 05/04/18 (e)		6,850,000		6,844,138
				15,439,330
Agriculture—0.3%
BAT Capital Corp. 2.764%, 08/15/22 (144A)		3,340,000		3,230,597
BAT International Finance plc 1.850%, 06/15/18 (144A)		3,000,000		2,995,670
Reynolds American, Inc. 6.875%, 05/01/20		1,000,000		1,072,475
				7,298,742
Airlines—0.4%
America West Airlines Pass-Through Trust 7.100%, 04/02/21 (c)		578,357		613,059
8.057%, 07/02/20		438,547		483,423
American Airlines Pass-Through Trust 4.000%, 07/15/25		1,511,703		1,514,878
4.950%, 01/15/23		697,887		725,802
Continental Airlines Pass-Through Trust 6.545%, 02/02/19		961,012		984,461
U.S. Airways Pass-Through Trust 6.250%, 04/22/23		1,944,226		2,096,654
7.076%, 03/20/21		1,483,275		1,576,907
				7,995,184
Auto Manufacturers—0.5%
Ford Motor Credit Co. LLC 2.021%, 05/03/19		1,000,000		989,313
2.875%, 10/01/18		1,000,000		1,000,820
8.125%, 01/15/20		3,175,000		3,437,275
General Motors Co. 3.500%, 10/02/18		2,415,000		2,418,537
4.875%, 10/02/23		3,875,000		4,043,620
				11,889,565
Banks—11.5%
Bank of America Corp. 2.369%, 3M LIBOR + 0.660%, 07/21/21 (b)		4,320,000		4,239,166
2.738%, 3M LIBOR + 0.370%, 01/23/22 (b)		5,570,000		5,491,679
3.004%, 3M LIBOR + 0.790%, 12/20/23 (144A) (b)		6,478,000		6,353,994
3.093%, 3M LIBOR + 1.090%, 10/01/25 (b)		3,345,000		3,215,848
3.419%, 12/20/28 (144A) (b)		1,895,000		1,815,215
3.705%, 3M LIBOR + 1.512%, 04/24/28 (b)		4,685,000		4,606,808
4.125%, 01/22/24 (c)		3,090,000		3,180,617
5.000%, 01/21/44		1,500,000		1,684,041
5.650%, 05/01/18		8,310,000		8,330,937
6.500%, 07/15/18 (c)		2,000,000		2,022,373
6.875%, 04/25/18		6,915,000		6,932,922
Banks—(Continued)
Bank of New York Mellon Corp. (The) 2.661%, 3M LIBOR + 0.634%, 05/16/23 (b)		2,865,000		2,788,209
Citigroup, Inc. 1.700%, 04/27/18		12,106,000		12,099,342
1.750%, 05/01/18 (c)		3,000,000		2,998,080
2.050%, 12/07/18		5,000,000		4,981,327
2.450%, 01/10/20 (c)		5,000,000		4,953,536
2.500%, 07/29/19		2,250,000		2,240,852
3.668%, 3M LIBOR + 1.390%, 07/24/28 (b)		2,215,000		2,159,450
6.125%, 05/15/18 (c)		7,355,000		7,383,690
Discover Bank 2.600%, 11/13/18		4,585,000		4,583,543
Goldman Sachs Group, Inc. (The) 2.625%, 01/31/19		4,040,000		4,037,887
3.272%, 3M LIBOR + 1.201%, 09/29/25 (b)		3,350,000		3,224,882
3.691%, 3M LIBOR + 1.510%, 06/05/28 (b)		3,500,000		3,393,155
3.814%, 3M LIBOR + 1.158%, 04/23/29 (b)		2,230,000		2,186,013
3.850%, 07/08/24		1,595,000		1,602,307
6.150%, 04/01/18		14,185,000		14,185,000
7.500%, 02/15/19		7,450,000		7,749,744
HBOS plc 6.750%, 05/21/18 (144A)		1,645,000		1,653,606
JPMorgan Chase & Co. 2.700%, 05/18/23 (c)		5,585,000		5,388,265
3.509%, 3M LIBOR + 0.945%, 01/23/29 (b) (c)		4,300,000		4,174,017
3.900%, 07/15/25		6,000,000		6,048,669
6.300%, 04/23/19 (c)		3,415,000		3,543,336
JPMorgan Chase Bank N.A. 2.070%, 3M LIBOR + 0.250%, 02/13/20 (b)		8,990,000		8,990,203
2.604%, 3M LIBOR + 0.280%, 02/01/21 (b)		11,325,000		11,263,451
Lloyds Banking Group plc 2.907%, 3M LIBOR + 0.810%, 11/07/23 (b)		2,515,000		2,424,528
Morgan Stanley 2.633%, 3M LIBOR + 0.800%, 02/14/20 (b)		6,290,000		6,309,081
2.675%, 3M LIBOR + 0.930%, 07/22/22 (b)		5,000,000		5,018,950
3.875%, 01/27/26		3,500,000		3,496,958
5.625%, 09/23/19		11,050,000		11,470,480
6.625%, 04/01/18		5,895,000		5,895,000
7.300%, 05/13/19		1,000,000		1,047,851
Santander UK Group Holdings plc 2.875%, 08/05/21		1,175,000		1,150,579
Santander UK plc 3.050%, 08/23/18		5,000,000		5,010,786
UBS AG 2.375%, 08/14/19 (c)		6,000,000		5,956,120
Wells Fargo & Co. 2.600%, 07/22/20		5,175,000		5,125,599
2.625%, 07/22/22		7,760,000		7,506,201
3.000%, 04/22/26		6,860,000		6,440,509
3.000%, 10/23/26		600,000		561,873
3.550%, 09/29/25 (c)		2,095,000		2,056,641
Wells Fargo Bank N.A. 2.400%, 01/15/20 (c)		18,000,000		17,851,584
				256,824,904

BHFTI-388

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Beverages—0.5%
Anheuser-Busch InBev Finance, Inc. 4.900%, 02/01/46		4,435,000	$	4,783,196
Constellation Brands, Inc. 2.000%, 11/07/19		5,500,000		5,424,290
				10,207,486
Biotechnology—0.8%
Amgen, Inc. 2.125%, 05/01/20		1,250,000		1,228,146
4.400%, 05/01/45		3,000,000		2,995,763
4.663%, 06/15/51		1,000,000		1,032,268
Baxalta, Inc. 2.000%, 06/22/18		1,500,000		1,497,758
2.875%, 06/23/20 (c)		1,000,000		992,969
4.000%, 06/23/25		2,497,000		2,492,945
Biogen, Inc. 5.200%, 09/15/45		1,100,000		1,201,177
Celgene Corp. 5.000%, 08/15/45		4,250,000		4,427,693
Gilead Sciences, Inc. 3.700%, 04/01/24		1,500,000		1,506,695
4.750%, 03/01/46		940,000		1,012,750
				18,388,164
Chemicals—0.4%
Dow Chemical Co. (The) 8.550%, 05/15/19 (c)		4,290,000		4,553,488
Monsanto Co. 1.850%, 11/15/18		5,110,000		5,082,490
				9,635,978
Commercial Services—0.2%
Moody’s Corp. 2.375%, 3M LIBOR + 0.350%, 09/04/18 (b)		4,000,000		4,000,541
Computers—0.2%
Apple, Inc. 4.650%, 02/23/46		998,000		1,098,994
Dell International LLC / EMC Corp. 3.480%, 06/01/19 (144A)		3,000,000		3,013,569
				4,112,563
Diversified Financial Services—0.9%
Air Lease Corp. 4.750%, 03/01/20 (c)		3,385,000		3,480,126
American Express Credit Corp. 1.875%, 05/03/19		2,000,000		1,981,453
International Lease Finance Corp. 7.125%, 09/01/18 (144A)		8,700,000		8,844,896
Protective Life Global Funding 2.597%, 3M LIBOR + 0.550%, 06/08/18 (144A) (b)		3,500,000		3,501,944
2.700%, 11/25/20 (144A)		3,045,000		3,016,006
				20,824,425
Electric—2.9%
Appalachian Power Co. 3.300%, 06/01/27		760,000		736,803
4.450%, 06/01/45		1,440,000		1,531,650
Dominion Energy, Inc. 1.875%, 12/15/18 (144A)		5,000,000		4,965,772
Duke Energy Carolinas LLC 4.250%, 12/15/41		3,300,000		3,431,661
Duke Energy Florida LLC 2.100%, 12/15/19 (c)		2,948,750		2,933,547
Duke Energy Progress LLC 4.100%, 05/15/42		1,000,000		1,030,674
4.100%, 03/15/43		2,325,000		2,377,752
Duquesne Light Holdings, Inc. 6.400%, 09/15/20 (144A)		3,250,000		3,477,700
El Paso Electric Co. 3.300%, 12/15/22		825,000		819,287
Entergy Corp. 4.000%, 07/15/22		3,000,000		3,062,106
Entergy Texas, Inc. 7.125%, 02/01/19		2,889,000		2,983,320
FirstEnergy Transmission LLC 4.350%, 01/15/25 (144A) (c)		4,000,000		4,115,944
Florida Power & Light Co. 3.950%, 03/01/48		2,500,000		2,544,511
Indiana Michigan Power Co. 7.000%, 03/15/19		2,775,000		2,879,327
International Transmission Co. 4.625%, 08/15/43		2,750,000		2,922,675
Kansas City Power & Light Co. 4.200%, 03/15/48		2,250,000		2,316,967
MidAmerican Energy Co. 4.800%, 09/15/43 (c)		905,000		1,027,188
PacifiCorp 3.350%, 07/01/25		2,000,000		1,994,972
Pennsylvania Electric Co. 4.150%, 04/15/25 (144A) (c)		2,800,000		2,852,837
Public Service Co. of New Mexico 3.850%, 08/01/25		3,135,000		3,178,888
Public Service Electric & Gas Co. 4.050%, 05/01/45		3,000,000		3,096,899
Southwestern Electric Power Co. 6.450%, 01/15/19		2,000,000		2,056,907
Wisconsin Public Service Corp. 1.650%, 12/04/18		6,000,000		5,963,375
Xcel Energy, Inc. 3.300%, 06/01/25		2,375,000		2,331,021
				64,631,783
Food—0.6%
Kraft Heinz Foods Co. 3.500%, 07/15/22		1,500,000		1,497,158
3.950%, 07/15/25 (c)		2,925,000		2,912,145
5.200%, 07/15/45		3,270,000		3,323,375

BHFTI-389

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Food—(Continued)
Mondelez International Holdings Netherlands B.V. 2.000%, 10/28/21 (144A)		3,580,000	$	3,416,317
2.370%, 3M LIBOR + 0.610%, 10/28/19 (144A) (b)		3,400,000		3,404,597
				14,553,592
Gas—0.2%
Southern Co. Gas Capital Corp. 3.250%, 06/15/26		4,000,000		3,836,107
Spire, Inc. 4.700%, 08/15/44		1,000,000		1,077,626
				4,913,733
Healthcare-Products—0.3%
Abbott Laboratories 2.350%, 11/22/19		3,150,000		3,122,852
Boston Scientific Corp. 6.000%, 01/15/20		2,500,000		2,623,397
				5,746,249
Healthcare-Services—1.5%
Aetna, Inc. 2.800%, 06/15/23		2,000,000		1,921,693
Anthem, Inc. 2.300%, 07/15/18		1,915,000		1,913,354
3.650%, 12/01/27		2,235,000		2,160,801
Cigna Corp. 3.050%, 10/15/27 (c)		3,350,000		3,073,829
Fresenius Medical Care U.S. Finance II, Inc. 5.625%, 07/31/19 (144A)		4,680,000		4,829,574
6.500%, 09/15/18 (144A)		2,000,000		2,030,021
Hartford HealthCare Corp. 5.746%, 04/01/44		1,000,000		1,189,609
Humana, Inc. 2.500%, 12/15/20 (c)		4,295,000		4,212,693
Kaiser Foundation Hospitals 3.150%, 05/01/27 (c)		1,500,000		1,451,846
New York and Presbyterian Hospital (The) 3.563%, 08/01/36		4,490,000		4,353,444
NYU Hospitals Center 4.428%, 07/01/42		1,756,000		1,819,812
Providence St. Joseph Health Obligated Group 2.746%, 10/01/26		1,015,000		958,209
UnitedHealth Group, Inc. 4.250%, 04/15/47		1,995,000		2,038,120
4.750%, 07/15/45		1,000,000		1,100,462
				33,053,467
Housewares—0.2%
Newell Brands, Inc. 2.600%, 03/29/19		4,185,000		4,166,045
Insurance—0.5%
Berkshire Hathaway Finance Corp. 4.400%, 05/15/42		3,700,000		3,929,637
Insurance—(Continued)
Farmers Exchange Capital III 5.454%, 3M LIBOR + 3.454%, 10/15/54 (144A) (b)		3,530,000		3,662,375
Teachers Insurance & Annuity Association of America 4.375%, 3M LIBOR + 2.661%, 09/15/54 (144A) (b)		3,500,000		3,408,125
				11,000,137
Internet—0.1%
Amazon.com, Inc. 2.800%, 08/22/24 (144A)		3,340,000		3,240,815
Media—0.5%
CBS Corp. 3.700%, 06/01/28 (144A) (c)		2,703,000		2,574,546
Charter Communications Operating LLC / Charter Communications Operating Capital Corp. 6.484%, 10/23/45		3,215,000		3,529,062
Comcast Corp. 4.400%, 08/15/35		1,500,000		1,546,442
Time Warner Cable LLC 5.875%, 11/15/40		1,500,000		1,566,649
6.750%, 07/01/18		2,315,000		2,336,816
				11,553,515
Miscellaneous Manufacturing—0.4%
General Electric Co. 2.200%, 01/09/20		5,000,000		4,923,536
Siemens Financieringsmaatschappij NV 2.000%, 09/15/23 (144A)		3,420,000		3,198,987
				8,122,523
Oil & Gas—0.2%
Anadarko Petroleum Corp. 4.500%, 07/15/44		620,000		595,035
Canadian Natural Resources, Ltd. 3.850%, 06/01/27		892,000		872,269
Devon Energy Corp. 5.000%, 06/15/45		815,000		866,205
Noble Energy, Inc. 5.050%, 11/15/44		1,050,000		1,097,547
Shell International Finance B.V. 4.375%, 05/11/45		650,000		690,757
				4,121,813
Packaging & Containers—0.3%
Amcor Finance USA, Inc. 3.625%, 04/28/26 (144A)		2,625,000		2,530,820
WestRock RKT Co. 4.450%, 03/01/19		4,925,000		4,995,747
				7,526,567
Pharmaceuticals—1.3%
AbbVie, Inc. 1.800%, 05/14/18		1,219,000		1,218,111
4.300%, 05/14/36		1,273,000		1,273,188

BHFTI-390

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Pharmaceuticals—(Continued)
Allergan Funding SCS 3.800%, 03/15/25 (c)		3,285,000	$	3,227,131
AstraZeneca plc 1.750%, 11/16/18 (c)		2,000,000		1,989,284
3.125%, 06/12/27 (c)		2,481,000		2,376,838
Bayer U.S. Finance LLC 2.375%, 10/08/19 (144A)		4,925,000		4,882,392
CVS Health Corp. 2.250%, 08/12/19		3,000,000		2,969,993
3.875%, 07/20/25		1,950,000		1,933,070
5.050%, 03/25/48		5,585,000		5,874,229
5.125%, 07/20/45		615,000		652,314
Shire Acquisitions Investments Ireland DAC 1.900%, 09/23/19		2,500,000		2,458,740
				28,855,290
Pipelines—1.4%
Columbia Pipeline Group, Inc. 2.450%, 06/01/18		2,250,000		2,248,563
Enbridge Energy Partners L.P. 5.875%, 10/15/25		1,000,000		1,096,725
Energy Transfer L.P. / Regency Energy Finance Corp. 5.000%, 10/01/22		1,260,000		1,309,885
Energy Transfer Partners L.P. 6.500%, 02/01/42		700,000		756,080
Energy Transfer Partners L.P. 5.150%, 03/15/45		5,065,000		4,628,716
Kinder Morgan, Inc. 3.050%, 12/01/19 (c)		921,000		918,619
Plains All American Pipeline L.P. / PAA Finance Corp. 3.850%, 10/15/23		1,000,000		975,233
4.650%, 10/15/25		2,340,000		2,354,036
Ruby Pipeline LLC 6.000%, 04/01/22 (144A)		4,734,848		4,940,781
TC PipeLines L.P. 4.650%, 06/15/21 (c)		3,840,000		3,949,196
Texas Eastern Transmission L.P. 2.800%, 10/15/22 (144A)		3,275,000		3,145,271
Williams Partners L.P. 3.600%, 03/15/22		3,490,000		3,474,204
3.900%, 01/15/25 (c)		1,000,000		990,365
				30,787,674
Real Estate Investment Trusts—2.2%
Alexandria Real Estate Equities, Inc. 2.750%, 01/15/20		475,000		472,827
4.600%, 04/01/22 (c)		5,292,000		5,512,997
American Tower Corp. 3.000%, 06/15/23		2,240,000		2,163,440
3.400%, 02/15/19		2,479,000		2,487,844
Boston Properties L.P. 3.200%, 01/15/25 (c)		2,235,000		2,157,461
CC Holdings GS V LLC / Crown Castle GS III Corp. 3.849%, 04/15/23 (c)		3,200,000		3,213,767
Real Estate Investment Trusts—(Continued)
HCP, Inc. 3.750%, 02/01/19		3,000,000		3,015,204
4.000%, 12/01/22 (c)		1,975,000		2,014,154
4.250%, 11/15/23		3,216,000		3,292,223
Healthcare Realty Trust, Inc. 3.750%, 04/15/23		1,850,000		1,853,399
Healthcare Trust of America Holdings L.P. 3.500%, 08/01/26		1,885,000		1,796,336
Highwoods Realty L.P. 7.500%, 04/15/18		2,783,000		2,787,380
Life Storage L.P. 3.875%, 12/15/27		2,500,000		2,407,791
SL Green Operating Partnership L.P. 3.250%, 10/15/22 (c)		1,000,000		975,271
SL Green Realty Corp. 5.000%, 08/15/18 (c)		1,500,000		1,506,314
Ventas Realty L.P. 3.125%, 06/15/23 (c)		590,000		577,971
3.250%, 10/15/26 (c)		2,500,000		2,346,169
4.125%, 01/15/26 (c)		4,750,000		4,787,037
WEA Finance LLC / Westfield UK & Europe Finance plc 2.700%, 09/17/19 (144A)		5,925,000		5,896,721
				49,264,306
Retail—0.4%
Alimentation Couche-Tard, Inc. 3.550%, 07/26/27 (144A)		2,750,000		2,640,628
Walgreens Boots Alliance, Inc. 2.700%, 11/18/19		2,811,000		2,797,324
3.450%, 06/01/26		1,280,000		1,209,479
4.800%, 11/18/44		2,300,000		2,275,666
				8,923,097
Semiconductors—0.3%
Analog Devices, Inc. 2.850%, 03/12/20		1,470,000		1,467,598
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 2.375%, 01/15/20		5,500,000		5,423,259
				6,890,857
Telecommunications—1.5%
AT&T, Inc. 3.000%, 06/30/22 (c)		1,000,000		982,041
4.125%, 02/17/26		955,000		957,313
4.350%, 06/15/45		1,500,000		1,370,742
4.500%, 03/09/48		575,000		534,425
4.750%, 05/15/46		2,175,000		2,112,456
4.800%, 06/15/44		2,000,000		1,952,131
5.250%, 03/01/37		6,665,000		7,050,735
Rogers Communications, Inc. 6.800%, 08/15/18		3,290,000		3,341,653
Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 4.738%, 03/20/25 (144A)		4,475,000		4,491,781

BHFTI-391

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Corporate Bonds & Notes—(Continued)

Security Description	Principal Amount*		Value
Telecommunications—(Continued)
Verizon Communications, Inc. 4.862%, 08/21/46		7,400,000	$	7,467,911
5.250%, 03/16/37		3,325,000		3,585,381
				33,846,569
Transportation—0.0%
Burlington Northern Santa Fe LLC 4.550%, 09/01/44		605,000		651,779
Total Corporate Bonds & Notes (Cost $702,734,579)				698,466,693
Asset-Backed Securities—9.7%
Asset-Backed - Home Equity—2.2%
Asset Backed Securities Corp. Home Equity Loan Trust 2.032%, 1M LIBOR + 0.160%, 05/25/36 (b)		2,687,404		2,657,720
Asset-Backed Funding Certificates Trust 2.012%, 1M LIBOR + 0.140%, 09/25/36 (b)		6,865,150		6,698,666
2.502%, 1M LIBOR + 0.630%, 03/25/35 (b)		3,790,729		3,789,408
JPMorgan Mortgage Acquisition Corp. 2.577%, 1M LIBOR + 0.705%, 06/25/35 (b)		7,869,561		7,877,142
MASTR Asset-Backed Securities Trust 2.472%, 1M LIBOR + 0.600%, 01/25/36 (b)		5,015,525		5,024,329
New Century Home Equity Loan Trust 2.652%, 1M LIBOR + 0.780%, 08/25/34 (b)		10,777,925		10,645,496
Option One Mortgage Loan Trust 2.532%, 1M LIBOR + 0.660%, 05/25/35 (b)		3,529,649		3,539,469
Option One Mortgage Loan Trust Asset-Backed Certificates 2.312%, 1M LIBOR + 0.440%, 11/25/35 (b)		8,394,563		8,385,737
Wells Fargo Home Equity Trust 2.517%, 1M LIBOR + 0.645%, 04/25/35 (b)		631,355		631,617
				49,249,584
Asset-Backed - Other—2.4%
Ameriquest Mortgage Securities Trust 2.262%, 1M LIBOR + 0.390%, 03/25/36 (b)		2,720,000		2,694,615
AMMC CLO 19, Ltd. 3.222%, 3M LIBOR + 1.500%, 10/15/28 (144A) (b)		4,000,000		4,021,676
Citigroup Mortgage Loan Trust, Inc. 2.547%, 1M LIBOR + 0.675%, 05/25/35 (b)		1,073,156		1,074,196
Dryden Senior Loan Fund 3.152%, 3M LIBOR + 1.430%, 07/15/27 (144A) (b)		5,200,000		5,205,642
Encore Credit Receivables Trust 2.292%, 1M LIBOR + 0.420%, 01/25/36 (b)		57,771		57,773
GSAMP Trust 2.552%, 1M LIBOR + 0.680%, 10/25/34 (b)		4,573,609		4,509,254
Magnetite, Ltd. 2.745%, 3M LIBOR + 1.000%, 07/25/26 (144A) (b)		5,000,000		5,000,180
Structured Asset Investment Loan Trust 2.672%, 1M LIBOR + 0.800%, 07/25/34 (b)		3,518,172		3,512,600
Structured Asset Securities Corp. Mortgage Loan Trust 2.592%, 1M LIBOR + 0.720%, 07/25/35 (b)		9,490,720		9,509,813
Towd Point Mortgage Trust 2.500%, 11/25/60 (144A) (b)		5,574,068		5,474,256
2.750%, 10/25/56 (144A) (b)		9,634,426		9,526,203
Asset-Backed - Other—(Continued)
Voya CLO, Ltd. 2.784%, 3M LIBOR + 1.050%, 01/18/26 (144A) (b)		2,850,000		2,850,308
				53,436,516
Asset-Backed - Student Loan—5.1%
Education Loan Asset-Backed Trust I 2.672%, 1M LIBOR + 0.800%, 06/25/26 (144A) (b)		4,465,204		4,486,251
Navient Student Loan Trust 2.922%, 1M LIBOR + 1.050%, 07/26/66 (144A) (b)		5,600,000		5,727,785
3.372%, 1M LIBOR + 1.500%, 10/25/58 (b)		2,470,000		2,507,053
Nelnet Student Loan Trust 2.221%, 1M LIBOR + 0.600%, 02/27/51 (144A) (b)		4,254,610		4,265,941
SLC Student Loan Trust 2.285%, 3M LIBOR + 0.160%, 09/15/39 (b)		11,000,000		10,619,295
2.285%, 3M LIBOR + 0.160%, 03/15/55 (b)		8,310,000		7,968,105
SLM Student Loan Trust 1.805%, 3M LIBOR + 0.060%, 01/25/22 (b)		10,320,000		10,069,023
1.895%, 3M LIBOR + 0.150%, 10/25/29 (b)		8,665,800		8,614,696
2.075%, 3M LIBOR + 0.330%, 01/25/22 (b)		4,613,286		4,521,801
2.115%, 3M LIBOR + 0.370%, 01/25/40 (b)		4,810,588		4,529,595
2.125%, 3M LIBOR + 0.380%, 10/25/24 (b)		4,101,535		4,101,537
2.295%, 3M LIBOR + 0.550%, 10/25/64 (144A) (b)		5,700,000		5,650,551
2.495%, 3M LIBOR + 0.750%, 10/25/40 (b)		10,240,000		10,239,930
2.595%, 3M LIBOR + 0.550%, 12/15/27 (144A) (b)		4,019,978		4,019,278
2.622%, 1M LIBOR + 0.750%, 05/26/26 (b)		8,439,497		8,405,420
2.622%, 1M LIBOR + 0.750%, 01/25/45 (144A) (b)		3,957,407		3,943,291
3.245%, 3M LIBOR + 1.500%, 04/25/23 (b)		1,208,081		1,232,938
3.672%, 1M LIBOR + 1.800%, 09/25/43 (b)		5,800,000		5,792,772
Wachovia Student Loan Trust 1.915%, 3M LIBOR + 0.170%, 04/25/40 (144A) (b)		7,500,000		7,286,362
				113,981,624
Total Asset-Backed Securities (Cost $211,340,419)				216,667,724
Mortgage-Backed Securities—3.0%
Collateralized Mortgage Obligations—1.7%
Citigroup Mortgage Loan Trust, Inc. 1.800%, 1M LIBOR + 0.210%, 05/20/47 (144A) (b)		1,636,213		1,633,120
Credit Suisse Mortgage Trust 1.066%, 09/27/46 (144A)		3,191,097		3,183,119
1.901%, 1M LIBOR + 0.280%, 04/27/47 (144A) (b)		2,676,664		2,633,168
3.510%, 01/27/36 (144A) (b)		942,542		955,140
Morgan Stanley Mortgage Loan Trust 2.142%, 1M LIBOR + 0.270%, 09/25/35 (b)		501,722		502,436
Morgan Stanley Resecuritization Trust 2.071%, 1M LIBOR + 0.450%, 08/26/47 (144A) (b)		5,140,615		5,068,751
3.393%, 01/26/51 (144A) (b)		2,456,026		2,449,410
Nomura Resecuritization Trust 1.881%, 1M LIBOR + 0.426%, 02/25/37 (144A) (b)		2,785,104		2,721,404
1.921%, 1M LIBOR + 0.300%, 08/26/37 (144A) (b)		2,607,309		2,547,889
3.546%, 03/26/37 (144A) (b)		3,491,391		3,528,844
Structured Adjustable Rate Mortgage Loan Trust 2.547%, 1M LIBOR + 0.675%, 01/25/35 (b)		2,477,498		2,461,106
3.686%, 03/25/34 (b)		5,574,949		5,641,010

BHFTI-392

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Mortgage-Backed Securities—(Continued)

Security Description	Principal Amount*		Value
Collateralized Mortgage Obligations—(Continued)
WaMu Mortgage Pass-Through Certificates Trust 2.162%, 1M LIBOR + 0.290%, 10/25/45 (b)		6,295,340	$	6,289,870
				39,615,267
Commercial Mortgage-Backed Securities—1.3%
225 Liberty Street Trust 3.597%, 02/10/36 (144A)		2,085,000		2,092,867
7 WTC Depositor LLC Trust 4.082%, 03/13/31 (144A)		198,733		198,956
CGRBS Commercial Mortgage Trust 3.369%, 03/13/35 (144A)		2,190,000		2,195,171
Commercial Mortgage Trust 3.545%, 02/10/36 (144A)		1,865,000		1,856,606
3.611%, 08/10/49 (144A) (b)		1,810,000		1,838,787
4.353%, 08/10/30 (144A)		1,845,000		1,938,509
Core Industrial Trust 3.040%, 02/10/34 (144A)		2,240,000		2,238,866
DBRR Trust 4.537%, 07/12/44 (144A) (b)		2,999,686		3,079,266
GS Mortgage Securities Corp. Trust 2.933%, 06/05/31 (144A)		1,910,000		1,914,929
JPMorgan Chase Commercial Mortgage Securities Trust 3.093%, 07/05/32 (144A)		546,522		545,839
4.311%, 08/05/32 (144A)		1,235,852		1,259,769
Madison Avenue Trust 3.843%, 10/12/32 (144A)		1,155,000		1,177,460
Morgan Stanley Capital Trust 3.727%, 10/11/50 (144A)		2,150,000		2,171,369
4.700%, 09/15/47 (144A)		6,724		6,718
RBS Commercial Funding, Inc. Trust 3.834%, 01/13/32 (144A) (b)		2,475,000		2,517,057
SFAVE Commercial Mortgage Securities Trust 3.872%, 01/05/43 (144A) (b)		1,519,000		1,508,810
Wells Fargo Commercial Mortgage Trust 2.710%, 03/18/28 (144A) (b)		2,000,000		1,987,399
				28,528,378
Total Mortgage-Backed Securities (Cost $68,043,872)				68,143,645
Municipals—0.5%
New York City Transitional Finance Authority, Future Tax Secured Revenue 4.200%, 11/01/30		1,250,000		1,325,975
5.267%, 05/01/27		2,150,000		2,458,331
New York City Water & Sewer System Revenue, Build America Bond 6.011%, 06/15/42		1,300,000		1,740,102
New York City, General Obligation Unlimited, Build America Bond 5.968%, 03/01/36		1,750,000		2,227,803
University of California CA, Revenue 4.601%, 05/15/31		2,855,000		3,152,862
Total Municipals (Cost $10,847,137)				10,905,073
Short-Term Investments—7.8%
Security Description	Shares/ Principal Amount*		Value
Mutual Fund—4.4%
State Street Institutional Liquid Reserves Fund Trust Class, 1.762%		98,164,469		98,144,836
U.S. Treasury—3.4%
U.S. Treasury Bills
1.283%, 04/19/18 (f)		41,775,000		41,742,771
1.526%, 06/14/18 (f) (g)		1,211,000		1,206,929
1.715%, 07/12/18 (f)		15,254,000		15,179,505
1.836%, 07/19/18 (f)		17,593,000		17,500,943
				75,630,148
Total Short-Term Investments (Cost $173,782,314)				173,774,984
Securities Lending Reinvestments (h)—18.7%
Certificates of Deposit—7.2%
Banco Del Estado De Chile New York 2.354%, 1M LIBOR + 0.500%, 09/21/18 (b)		8,000,000		7,999,480
Bank of Nova Scotia 2.482%, 3M LIBOR + 0.280%, 03/20/19 (b)		5,000,000		4,997,820
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (b)		2,500,000		2,500,060
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (b)		5,500,000		5,499,824
China Construction Bank 1.950%, 04/20/18		8,000,000		7,999,168
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (b)		11,000,000		11,000,000
Credit Agricole S.A. 2.032%, 1M LIBOR + 0.330%, 10/09/18 (b)		10,000,000		9,998,590
Credit Suisse AG New York 1.976%, 1M LIBOR + 0.190%, 04/16/18 (b)		10,500,000		10,499,559
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (b)		1,000,000		999,782
1.976%, 1M LIBOR + 0.190%, 04/16/18 (b)		7,500,000		7,499,543
2.077%, 1M LIBOR + 0.200%, 05/30/18 (b)		4,000,000		3,999,336
Mizuho Bank, Ltd., New York 2.008%, 1M LIBOR + 0.200%, 04/18/18 (b)		5,000,000		4,999,930
2.077%, 1M LIBOR + 0.200%, 05/29/18 (b)		5,000,000		4,999,580
Natixis New York 1.896%, 1M LIBOR + 0.210%, 08/06/18 (b)		5,000,000		4,999,570
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (b)		9,000,000		8,994,546
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (b)		4,000,000		3,999,668
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (b)		5,000,000		4,999,520
2.250%, 08/21/18		4,000,000		3,998,320
Sumitomo Mitsui Banking Corp., London 2.071%, 1M LIBOR + 0.230%, 05/21/18 (b)		6,500,000		6,500,000
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (b)		5,000,000		4,999,820
2.010%, 1M LIBOR + 0.270%, 09/10/18 (b)		10,000,000		9,997,010
2.062%, 1M LIBOR + 0.190%, 04/26/18 (b)		3,500,000		3,499,972
2.157%, 1M LIBOR + 0.280%, 07/30/18 (b)		10,000,000		9,999,620

BHFTI-393

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Certificates of Deposit—(Continued)
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (b)		8,500,000	$	8,499,872
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (b)		7,500,000		7,499,332
				160,979,922
Commercial Paper—2.3%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (b)		5,000,000		4,999,545
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		7,974,302		7,991,392
Macquarie Bank, Ltd., London 2.020%, 05/16/18		9,950,061		9,974,690
Oversea-Chinese Banking Corp., Ltd. 2.150%, 06/08/18		2,983,517		2,987,874
Ridgefield Funding Co. LLC 2.200%, 06/07/18		7,244,042		7,254,782
Sheffield Receivables Co. 2.080%, 05/21/18		2,984,573		2,991,216
Toyota Motor Credit Corp. 1.967%, 1M LIBOR + 0.190%, 05/11/18 (b)		9,000,000		8,999,721
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (b)		7,500,000		7,498,920
				52,698,140
Repurchase Agreements—7.7%
Citigroup Global Markets, Inc. Repurchase Agreement dated 10/16/17 at 2.260%, due on 07/02/18 with a maturity value of $5,081,297; collateralized by various Common Stock with an aggregate market value of $5,500,001.		5,000,000		5,000,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $11,602,256; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $11,832,063.		11,600,000		11,600,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $6,601,283; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $6,732,015.		6,600,000		6,600,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $10,002,000; collateralized by Foreign Obligations with rates ranging from 0.500% - 2.750%, maturity dates ranging from 04/01/19 - 05/24/27, and an aggregate market value of $10,200,023.		10,000,000		10,000,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $6,301,260; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $6,426,042.		6,300,000		6,300,000
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $2,110,022; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,332,495.		2,100,000		2,100,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $9,009,315; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $9,996,408.		9,000,000		9,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $12,215,843; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $13,328,544.		12,000,000		12,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $4,529,601; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $4,619,325.		4,528,741		4,528,741
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $5,708,164; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $5,950,908.		5,500,000		5,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $2,027,736; collateralized by various Common Stock with an aggregate market value of $2,241,204.		2,015,000		2,015,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $10,734,369; collateralized by various Common Stock with an aggregate market value of $11,928,988.		10,725,000		10,725,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $6,006,267; collateralized by various Common Stock with an aggregate market value of $6,673,560.		6,000,000		6,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $15,002,967; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $15,300,000.		15,000,000		15,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $11,013,903; collateralized by various Common Stock with an aggregate market value of $12,228,963.		11,000,000		11,000,000

BHFTI-394

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (h)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Societe Generale Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $20,017,189; collateralized by various Common Stock with an aggregate market value of $22,234,478.		20,000,000	$	20,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $33,070,050; collateralized by various Common Stock with an aggregate market value of $36,742,476.		33,050,000		33,050,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $2,000,506; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
				172,418,741
Time Deposits—1.5%
ABN AMRO Bank NV 1.680%, 04/02/18		10,000,000		10,000,000
Australia New Zealand Bank 1.670%, 04/02/18		5,000,000		5,000,000
DNB Bank ASA 1.640%, 04/02/18		5,000,000		5,000,000
DZ Bank AG 1.670%, 04/02/18		5,000,000		5,000,000
Nordea Bank New York 1.640%, 04/02/18		5,000,000		5,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		5,000,000		5,000,000
				35,000,000
Total Securities Lending Reinvestments (Cost $421,121,332)				421,096,803
Total Investments—129.4% (Cost $2,903,997,088)				2,898,260,033
Other assets and liabilities (net)—(29.4)%				(659,220,545	)
Net Assets—100.0%			$	2,239,039,488

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement date.
(b)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(c)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $412,418,637 and the collateral received consisted of cash in the amount of $421,055,236. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(d)	Principal amount of security is adjusted for inflation.
(e)	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.
(f)	The rate shown represents current yield to maturity.
(g)	All or a portion of the security was pledged as collateral against open futures contracts. As of March 31, 2018, the market value of securities pledged was $1,175,037.
(h)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(144A)—	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. As of March 31, 2018, the market value of 144A securities was $228,838,448, which is 10.2% of net assets.

Futures Contracts

Futures Contracts—Long	Expiration Date		Number of Contracts		Notional Amount			Value/ Unrealized Appreciation
U.S. Treasury Note 2 Year Futures		06/29/18		1,293		USD	274,903,923	$	111,368
U.S. Treasury Note 5 Year Futures		06/29/18		792		USD	90,653,063		342,319
U.S. Treasury Ultra Long Bond Futures		06/20/18		77		USD	12,356,094		547,853
Net Unrealized Appreciation								$	1,001,540

BHFTI-395

Brighthouse Funds Trust I

TCW Core Fixed Income Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Glossary of Abbreviations

Currencies

(USD)— United States Dollar

Index Abbreviations

(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Other Abbreviations

(ACES)—	Alternative Credit Enhancement Securities
(CLO)—	Collateralized Loan Obligation
(CMO)—	Collateralized Mortgage Obligation

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total U.S. Treasury & Government Agencies*	$	—	$	1,309,205,111		$	—	$	1,309,205,111
Total Corporate Bonds & Notes*		—		698,466,693			—		698,466,693
Total Asset-Backed Securities*		—		216,667,724			—		216,667,724
Total Mortgage-Backed Securities*		—		68,143,645			—		68,143,645
Total Municipals		—		10,905,073			—		10,905,073
Short-Term Investments
Mutual Fund		98,144,836		—			—		98,144,836
U.S. Treasury		—		75,630,148			—		75,630,148
Total Short-Term Investments		98,144,836		75,630,148			—		173,774,984
Total Securities Lending Reinvestments*		—		421,096,803			—		421,096,803
Total Investments	$	98,144,836	$	2,800,115,197		$	—	$	2,898,260,033
Collateral for Securities Loaned (Liability)	$	—	$	(421,055,236	)	$	—	$	(421,055,236	)
Futures Contracts
Futures Contracts (Unrealized Appreciation)	$	1,001,540	$	—		$	—	$	1,001,540

* See Schedule of Investments for additional detailed categorizations.

BHFTI-396

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.9% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—2.0%
Textron, Inc.		356,340	$	21,013,370
Auto Components—1.5%
BorgWarner, Inc.		312,138		15,678,692
Banks—4.2%
Citizens Financial Group, Inc.		415,211		17,430,558
SunTrust Banks, Inc. (a)		408,309		27,781,344
				45,211,902
Building Products—0.9%
Owens Corning		120,661		9,701,144
Capital Markets—1.7%
E*Trade Financial Corp. (b)		319,888		17,724,994
Chemicals—3.5%
Celanese Corp. - Series A		130,822		13,109,673
Eastman Chemical Co. (a)		168,100		17,747,998
International Flavors & Fragrances, Inc. (a)		49,088		6,720,638
				37,578,309
Commercial Services & Supplies—1.2%
Republic Services, Inc.		189,516		12,551,645
Communications Equipment—2.8%
ARRIS International plc (b)		422,591		11,228,243
Motorola Solutions, Inc.		180,570		19,014,021
				30,242,264
Construction & Engineering—1.7%
Quanta Services, Inc. (b)		542,382		18,630,822
Containers & Packaging—3.9%
AptarGroup, Inc.		153,598		13,797,708
Avery Dennison Corp.		42,878		4,555,788
Crown Holdings, Inc. (b)		192,431		9,765,873
Packaging Corp. of America		117,206		13,209,116
				41,328,485
Electric Utilities—2.1%
Alliant Energy Corp.		260,525		10,645,052
Xcel Energy, Inc.		262,038		11,917,488
				22,562,540
Electrical Equipment—1.0%
Hubbell, Inc. (a)		88,309		10,754,270
Electronic Equipment, Instruments & Components—3.2%
Flex, Ltd. (b)		982,421		16,042,935
Keysight Technologies, Inc. (a) (b)		339,273		17,774,512
				33,817,447
Equity Real Estate Investment Trusts—3.0%
Lamar Advertising Co. - Class A (a)		232,709		14,814,255
National Retail Properties, Inc. (a)		440,889		17,309,302
				32,123,557
Food & Staples Retailing—3.4%
Kroger Co. (The) (a)		679,200		16,260,048
Sysco Corp.		328,028		19,668,559
				35,928,607
Food Products—5.3%
Archer-Daniels-Midland Co.		733,882		31,828,462
Hormel Foods Corp. (a)		240,736		8,262,060
Ingredion, Inc.		124,576		16,060,338
				56,150,860
Health Care Equipment & Supplies—2.5%
Hologic, Inc. (a) (b)		457,563		17,094,554
STERIS plc		99,100		9,251,976
				26,346,530
Health Care Providers & Services—3.1%
HCA Healthcare, Inc.		135,878		13,180,166
Quest Diagnostics, Inc.		194,863		19,544,759
				32,724,925
Hotels, Restaurants & Leisure—1.4%
Darden Restaurants, Inc.		178,893		15,250,628
Insurance—13.6%
Aflac, Inc.		367,094		16,064,033
Alleghany Corp.		41,521		25,512,163
Allstate Corp. (The)		122,373		11,600,960
American Financial Group, Inc.		106,475		11,948,625
Arthur J. Gallagher & Co.		259,224		17,816,466
FNF Group		380,410		15,224,008
Markel Corp. (a) (b)		13,543		15,848,696
Marsh & McLennan Cos., Inc.		114,755		9,477,615
W.R. Berkley Corp. (a)		307,288		22,339,838
				145,832,404
IT Services—5.4%
Black Knight, Inc. (a) (b)		226,511		10,668,668
DXC Technology Co.		175,358		17,628,740
Fidelity National Information Services, Inc.		169,174		16,291,456
MAXIMUS, Inc. (a)		194,735		12,996,614
				57,585,478
Leisure Products—1.5%
Hasbro, Inc.		196,472		16,562,589
Machinery—6.8%
AGCO Corp. (a)		229,912		14,909,793
Colfax Corp. (a) (b)		319,100		10,179,290
Ingersoll-Rand plc		195,643		16,729,433

BHFTI-397

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares		Value
Machinery—(Continued)
PACCAR, Inc.		239,799	$	15,867,500
Parker-Hannifin Corp.		33,483		5,726,597
Xylem, Inc.		117,040		9,002,717
				72,415,330
Media—3.7%
CBS Corp. - Class B		208,151		10,696,880
Cinemark Holdings, Inc. (a)		467,130		17,596,787
Interpublic Group of Cos., Inc. (The)		467,737		10,771,983
				39,065,650
Metals & Mining—2.1%
Reliance Steel & Aluminum Co.		263,938		22,630,044
Multi-Utilities—1.2%
DTE Energy Co. (a)		126,300		13,185,720
Oil, Gas & Consumable Fuels—6.6%
Cimarex Energy Co.		143,428		13,410,518
Devon Energy Corp.		490,968		15,607,873
Energen Corp. (a) (b)		211,868		13,318,023
Parsley Energy, Inc. - Class A (b)		525,956		15,247,464
PDC Energy, Inc. (a) (b)		269,548		13,215,938
				70,799,816
Pharmaceuticals—1.5%
Perrigo Co. plc		195,221		16,269,718
Road & Rail—1.2%
Landstar System, Inc. (a)		115,100		12,620,715
Software—1.9%
Nuance Communications, Inc. (b)		774,700		12,201,525
Synopsys, Inc. (b)		98,470		8,196,643
				20,398,168
Specialty Retail—2.5%
AutoNation, Inc. (b)		265,299		12,410,687
Tiffany & Co.		152,396		14,882,993
				27,293,680
Technology Hardware, Storage & Peripherals—1.5%
Hewlett Packard Enterprise Co. (a)		940,833		16,502,211
Textiles, Apparel & Luxury Goods—1.0%
VF Corp.		143,342		10,624,509
Total Common Stocks (Cost $1,046,670,743)				1,057,107,023
Short-Term Investment—0.9%
Security Description	Principal Amount*		Value
Repurchase Agreement—0.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $10,256,262; collateralized by a U.S. Treasury Note at 1.875%, maturing 07/31/22, with a market value of $10,463,338.		10,255,579	$	10,255,579
Total Short-Term Investments (Cost $10,255,579)				10,255,579
Securities Lending Reinvestments (c)—11.8%
Certificates of Deposit—2.6%
Canadian Imperial Bank of Commerce 1.920%, 1M LIBOR + 0.170%, 04/13/18 (d)		4,000,000		3,999,872
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		4,500,000		4,500,000
Credit Suisse AG New York 1.930%, 1M LIBOR + 0.190%, 05/11/18 (d)		1,000,000		999,888
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		5,000,000		4,999,790
Mizuho Bank, Ltd., New York 1.891%, 1M LIBOR + 0.200%, 04/06/18 (d)		3,000,000		2,999,955
Sumitomo Mitsui Banking Corp., New York 1.920%, 1M LIBOR + 0.180%, 04/11/18 (d)		1,000,000		999,964
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		2,000,000		1,999,984
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (d)		3,000,000		2,999,916
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (d)		4,000,000		3,999,940
				27,499,309
Commercial Paper—0.5%
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		5,000,000		4,999,280
Repurchase Agreements—6.9%
Citigroup Global Markets, Inc. Repurchase Agreement dated 01/25/17 at 2.230%, due on 06/29/18 with a maturity value of $1,238,653; collateralized by various Common Stock with an aggregate market value of $1,320,000.		1,200,000		1,200,000
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $10,001,944; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $10,200,054.		10,000,000		10,000,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $2,500,486; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $2,550,006.		2,500,000		2,500,000

BHFTI-398

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—(Continued)
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $2,400,480; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 07/07/23, and an aggregate market value of $2,448,016.		2,400,000	$	2,400,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $602,864; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $666,427.		600,000		600,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $2,002,070; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,221,424.		2,000,000		2,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,781,477; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,943,746.		1,750,000		1,750,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $2,110,426; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $2,152,230.		2,110,025		2,110,025
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $2,594,620; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $2,704,958.		2,500,000		2,500,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $8,164,524; collateralized by various Common Stock with an aggregate market value of $8,800,001.		8,000,000		8,000,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $3,119,595; collateralized by various Common Stock with an aggregate market value of $3,448,006.		3,100,000		3,100,000
Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $3,603,145; collateralized by various Common Stock with an aggregate market value of $4,004,136.		3,600,000		3,600,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Repurchase Agreements—(Continued)
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $10,001,978; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $10,200,000.		10,000,000		10,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $3,003,792; collateralized by various Common Stock with an aggregate market value of $3,335,172.		3,000,000		3,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $2,001,719; collateralized by various Common Stock with an aggregate market value of $2,223,448.		2,000,000		2,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $3,101,881; collateralized by various Common Stock with an aggregate market value of $3,446,344.		3,100,000		3,100,000
Repurchase Agreement dated 03/28/18 at 1.820%, due on 04/02/18 with a maturity value of $15,003,792; collateralized by various Common Stock with an aggregate market value of $16,675,859.		15,000,000		15,000,000
				73,860,025
Time Deposits—1.8%
ABN AMRO Bank NV 1.680%, 04/02/18		2,000,000		2,000,000
Australia New Zealand Bank 1.670%, 04/02/18		4,000,000		4,000,000
DNB Bank ASA 1.640%, 04/02/18		4,000,000		4,000,000
DZ Bank AG 1.670%, 04/02/18		4,000,000		4,000,000
Nordea Bank New York 1.640%, 04/02/18		5,000,000		5,000,000
				19,000,000
Total Securities Lending Reinvestments (Cost $125,360,025)				125,358,614
Total Investments—111.6% (Cost $1,182,286,347)				1,192,721,216
Other assets and liabilities (net)—(11.6)%				(124,013,477	)
Net Assets—100.0%			$	1,068,707,739

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $123,745,933 and the collateral received consisted of cash in the amount of $125,360,025. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.
(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.

BHFTI-399

Brighthouse Funds Trust I

Victory Sycamore Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(d)

Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.

(LIBOR)—

London InterBank Offered Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	1,057,107,023	$	—		$	—	$	1,057,107,023
Total Short-Term Investment*		—		10,255,579			—		10,255,579
Total Securities Lending Reinvestments*		—		125,358,614			—		125,358,614
Total Investments	$	1,057,107,023	$	135,614,193		$	—	$	1,192,721,216
Collateral for Securities Loaned (Liability)	$	—	$	(125,360,025	)	$	—	$	(125,360,025	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-400

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—98.6% of Net Assets

Security Description	Shares		Value
Aerospace & Defense—3.5%
Arconic, Inc.		290,412	$	6,691,093
Harris Corp. (a)		71,237		11,489,103
				18,180,196
Auto Components—0.8%
Aptiv plc		52,201		4,435,519
Banks—6.1%
Fifth Third Bancorp		252,313		8,010,938
PacWest Bancorp (a)		191,083		9,464,341
Regions Financial Corp.		527,142		9,794,298
Zions Bancorp (a)		89,281		4,707,787
				31,977,364
Beverages—2.8%
Molson Coors Brewing Co. - Class B		191,944		14,459,142
Building Products—1.0%
Owens Corning		67,788		5,450,155
Capital Markets—2.0%
Northern Trust Corp.		101,486		10,466,251
Chemicals—3.5%
International Flavors & Fragrances, Inc.		64,798		8,871,494
PPG Industries, Inc.		84,219		9,398,841
				18,270,335
Commercial Services & Supplies—3.5%
Republic Services, Inc.		167,332		11,082,398
Stericycle, Inc. (a) (b)		123,501		7,228,514
				18,310,912
Communications Equipment—0.7%
ARRIS International plc (b)		145,178		3,857,379
Construction & Engineering—2.7%
Jacobs Engineering Group, Inc.		239,208		14,149,153
Consumer Finance—1.2%
Ally Financial, Inc.		238,798		6,483,366
Containers & Packaging—5.6%
International Paper Co.		170,831		9,127,500
Packaging Corp. of America		59,515		6,707,341
Sealed Air Corp. (a)		311,986		13,349,881
				29,184,722
Electric Utilities—3.0%
American Electric Power Co., Inc.		171,212		11,743,431
PG&E Corp.		94,756		4,162,631
				15,906,062
Electrical Equipment—1.4%
Acuity Brands, Inc. (a)		53,575		7,457,104
Energy Equipment & Services—3.8%
C&J Energy Services, Inc. (a) (b)		194,788		5,029,426
National Oilwell Varco, Inc.		208,711		7,682,652
Patterson-UTI Energy, Inc. (a)		416,687		7,296,189
				20,008,267
Equity Real Estate Investment Trusts—4.0%
American Campus Communities, Inc.		195,908		7,565,967
Invitation Homes, Inc.		321,844		7,347,699
Mid-America Apartment Communities, Inc.		65,784		6,002,132
				20,915,798
Health Care Equipment & Supplies—3.6%
STERIS plc (a)		58,847		5,493,956
Varian Medical Systems, Inc. (b)		43,995		5,395,987
Zimmer Biomet Holdings, Inc.		73,864		8,054,130
				18,944,073
Health Care Providers & Services—3.1%
AmerisourceBergen Corp.		45,562		3,927,900
Humana, Inc.		28,311		7,610,846
Universal Health Services, Inc. - Class B		39,790		4,711,534
				16,250,280
Hotels, Restaurants & Leisure—1.1%
Wendy’s Co. (The) (a)		330,863		5,806,646
Household Durables—2.3%
Mohawk Industries, Inc. (b)		31,062		7,213,218
Whirlpool Corp. (a)		30,164		4,618,410
				11,831,628
Household Products—1.7%
Spectrum Brands Holdings, Inc. (a)		83,264		8,634,477
Insurance—11.0%
Allstate Corp. (The)		85,436		8,099,333
Arch Capital Group, Ltd. (a) (b)		95,057		8,135,929
Brown & Brown, Inc. (a)		481,906		12,259,689
FNF Group		203,221		8,132,904
Loews Corp.		263,318		13,094,804
Willis Towers Watson plc (a)		51,061		7,770,973
				57,493,632
IT Services—7.2%
Amdocs, Ltd.		171,762		11,459,960
DST Systems, Inc.		39,989		3,345,080
Euronet Worldwide, Inc. (b)		46,117		3,639,554
Fidelity National Information Services, Inc.		125,907		12,124,844
Leidos Holdings, Inc.		107,923		7,058,164
				37,627,602

BHFTI-401

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Common Stocks—(Continued)

Security Description	Shares/ Principal Amount*		Value
Life Sciences Tools & Services—1.3%
Charles River Laboratories International, Inc. (a) (b)		61,656	$	6,581,161
Machinery—0.8%
Middleby Corp. (The) (a) (b)		35,667		4,415,218
Media—1.4%
Interpublic Group of Cos., Inc. (The)		306,394		7,056,254
Multi-Utilities—2.4%
Ameren Corp.		222,614		12,606,631
Multiline Retail—1.7%
Kohl’s Corp. (a)		136,561		8,946,111
Oil, Gas & Consumable Fuels—4.6%
Anadarko Petroleum Corp.		144,929		8,755,161
Cimarex Energy Co. (a)		77,697		7,264,669
Hess Corp.		162,306		8,215,930
				24,235,760
Real Estate Management & Development—2.0%
CBRE Group, Inc. - Class A (b)		222,101		10,487,609
Road & Rail—3.4%
Kansas City Southern		123,025		13,514,296
Ryder System, Inc.		60,268		4,386,908
				17,901,204
Semiconductors & Semiconductor Equipment—0.5%
Analog Devices, Inc.		29,090		2,650,972
Software—1.0%
Check Point Software Technologies, Ltd. (b)		51,214		5,087,599
Technology Hardware, Storage & Peripherals—1.8%
NCR Corp. (a) (b)		306,036		9,646,255
Water Utilities—2.1%
American Water Works Co., Inc. (a)		135,907		11,162,042
Total Common Stocks (Cost $497,344,526)				516,876,879
Short-Term Investment—1.9%
Repurchase Agreement—1.9%
Fixed Income Clearing Corp. Repurchase Agreement dated 03/29/18 at 0.600%, due on 04/02/18 with a maturity value of $9,807,887; collateralized by a U.S. Treasury Note at 1.625%, maturing 08/31/22, with a market value of $10,004,896.		9,807,233		9,807,233
Total Short-Term Investments (Cost $9,807,233)				9,807,233
Securities Lending Reinvestments (c)—14.6%
Security Description	Principal Amount*		Value
Certificates of Deposit—5.7%
BNP Paribas New York 1.886%, 1M LIBOR + 0.200%, 05/04/18 (d)		2,500,000		2,500,060
China Construction Bank 1.950%, 04/20/18		2,000,000		1,999,792
Cooperative Rabobank UA 1.860%, 3M LIBOR + 0.140%, 10/16/18 (d)		1,250,000		1,250,000
Credit Suisse AG New York 2.230%, FEDEFF PRV + 0.550%, 09/07/18 (d)		3,500,000		3,500,000
Mitsubishi UFJ Trust and Banking Corp. 1.886%, 1M LIBOR + 0.200%, 06/07/18 (d)		500,000		499,891
1.976%, 1M LIBOR + 0.190%, 04/16/18 (d)		2,000,000		1,999,878
Norinchukin Bank New York 1.670%, 1M LIBOR + 0.300%, 09/04/18 (d)		2,000,000		1,998,788
Royal Bank of Canada New York 1.990%, 1M LIBOR + 0.250%, 01/11/19 (d)		2,000,000		1,996,180
2.301%, 1M LIBOR + 0.440%, 09/17/18 (d)		2,000,000		1,999,718
Societe Generale 1.950%, 1M LIBOR + 0.210%, 07/10/18 (d)		1,000,000		999,917
Standard Chartered plc 2.154%, 1M LIBOR + 0.300%, 08/22/18 (d)		1,500,000		1,499,856
2.250%, 08/21/18		1,000,000		999,580
Sumitomo Mitsui Banking Corp., New York 1.916%, 1M LIBOR + 0.230%, 09/05/18 (d)		1,000,000		999,595
1.920%, 1M LIBOR + 0.180%, 04/11/18 (d)		1,000,000		999,964
2.010%, 1M LIBOR + 0.270%, 09/10/18 (d)		2,500,000		2,499,253
2.062%, 1M LIBOR + 0.190%, 04/26/18 (d)		500,000		499,996
Svenska Handelsbanken AB 2.027%, 1M LIBOR + 0.150%, 04/30/18 (d)		1,000,000		999,972
Wells Fargo Bank N.A. 1.835%, 3M LIBOR + 0.130%, 07/11/18 (d)		1,000,000		999,985
Westpac Banking Corp. 2.130%, FEDEFF PRV + 0.450%, 02/15/19 (d)		1,500,000		1,499,866
				29,742,291
Commercial Paper—2.6%
Canadian Imperial Bank of Commerce 2.208%, 1M LIBOR + 0.400%, 09/17/18 (d)		1,000,000		999,909
Industrial & Commercial Bank of China, Ltd. 1.960%, 04/20/18		1,993,576		1,997,848
LMA S.A. & LMA Americas 2.150%, 06/01/18		2,983,696		2,988,687
Macquarie Bank, Ltd., London 2.020%, 05/16/18		2,985,018		2,992,407
Sheffield Receivables Co. 2.080%, 05/21/18		1,989,716		1,994,144
UBS AG 1.880%, 1M LIBOR + 0.210%, 05/02/18 (d)		2,500,000		2,499,640
				13,472,635

BHFTI-402

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

Securities Lending Reinvestments (c)—(Continued)

Security Description	Principal Amount*		Value
Repurchase Agreements—4.6%
Deutsche Bank AG, London Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $400,078; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 06/30/20 - 05/02/25, and an aggregate market value of $408,001.		400,000	$	400,000
Repurchase Agreement dated 03/29/18 at 1.750%, due on 04/02/18 with a maturity value of $800,156; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.500%, maturity dates ranging from 03/07/22 - 05/24/27, and an aggregate market value of $816,004.		800,000		800,000
Repurchase Agreement dated 03/29/18 at 1.800%, due on 04/02/18 with a maturity value of $400,080; collateralized by Foreign Obligations with rates ranging from 1.875% - 2.125%, maturity dates ranging from 04/14/22 - 08/07/23, and an aggregate market value of $408,003.		400,000		400,000
Repurchase Agreement dated 01/09/18 at 2.070%, due on 04/02/18 with a maturity value of $301,432; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $333,214.		300,000		300,000
Repurchase Agreement dated 03/15/18 at 2.070%, due on 04/02/18 with a maturity value of $2,002,070; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $2,221,424.		2,000,000		2,000,000
Repurchase Agreement dated 09/12/17 at 2.210%, due on 07/02/18 with a maturity value of $1,017,987; collateralized by U.S. Treasury Obligations with rates ranging from 0.000% - 5.500%, maturity dates ranging from 08/02/18 - 08/15/46, and various Common Stock with an aggregate market value of $1,110,712.		1,000,000		1,000,000
ING Financial Markets LLC Repurchase Agreement dated 03/29/18 at 1.710%, due on 04/02/18 with a maturity value of $4,771,134; collateralized by U.S. Government Agency Obligations with rates ranging from 0.750% - 3.750%, maturity dates ranging from 04/09/18 - 09/24/26, and an aggregate market value of $4,865,642.		4,770,227		4,770,227
Merrill Lynch, Pierce, Fenner & Smith, Inc. Repurchase Agreement dated 10/26/16 at 2.230%, due on 06/29/18 with a maturity value of $1,245,418; collateralized by U.S. Treasury Obligations with rates ranging from 0.125% - 8.875%, maturity dates ranging from 01/15/19 - 02/15/48, and various Common Stock with an aggregate market value of $1,298,380.		1,200,000		1,200,000
Repurchase Agreement dated 08/01/17 at 2.230%, due on 06/29/18 with a maturity value of $2,551,414; collateralized by various Common Stock with an aggregate market value of $2,750,000.		2,500,000		2,500,000
NBC Global Finance, Ltd. Repurchase Agreement dated 11/30/17 at 1.850%, due on 04/02/18 with a maturity value of $1,912,010; collateralized by various Common Stock with an aggregate market value of $2,113,294.		1,900,000		1,900,000
Repurchase Agreements—(Continued)
NBC Global Finance, Ltd. Repurchase Agreement dated 03/16/18 at 1.850%, due on 04/02/18 with a maturity value of $2,001,747; collateralized by various Common Stock with an aggregate market value of $2,224,520.		2,000,000		2,000,000
Repurchase Agreement dated 03/16/18 at 1.880%, due on 04/05/18 with a maturity value of $1,001,044; collateralized by various Common Stock with an aggregate market value of $1,112,260.		1,000,000		1,000,000
Pershing LLC Repurchase Agreement dated 03/29/18 at 1.780%, due on 04/02/18 with a maturity value of $1,000,198; collateralized by U.S. Government Agency and Treasury Obligations with rates ranging from 0.000% - 11.500%, maturity dates ranging from 03/31/18 - 02/20/68, and an aggregate market value of $1,020,000.		1,000,000		1,000,000
Societe Generale Repurchase Agreement dated 03/08/18 at 1.820%, due on 04/02/18 with a maturity value of $1,001,264; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/16/18 at 1.820%, due on 04/02/18 with a maturity value of $1,000,859; collateralized by various Common Stock with an aggregate market value of $1,111,724.		1,000,000		1,000,000
Repurchase Agreement dated 03/21/18 at 1.820%, due on 04/02/18 with a maturity value of $3,101,881; collateralized by various Common Stock with an aggregate market value of $3,446,344.		3,100,000		3,100,000
				24,370,227
Time Deposits—1.7%
DNB Bank ASA 1.640%, 04/02/18		3,000,000		3,000,000
DZ Bank AG 1.670%, 04/02/18		2,000,000		2,000,000
Nordea Bank New York 1.640%, 04/02/18		2,000,000		2,000,000
Svenska Handelsbanken AB 1.640%, 04/02/18		2,000,000		2,000,000
				9,000,000
Total Securities Lending Reinvestments (Cost $76,594,449)				76,585,153
Total Investments—115.1% (Cost $583,746,208)				603,269,265
Other assets and liabilities (net)—(15.1)%				(79,202,910	)
Net Assets—100.0%			$	524,066,355

*	Principal amount stated in U.S. dollars unless otherwise noted.
(a)	All or a portion of the security was held on loan. As of March 31, 2018, the market value of securities loaned was $76,630,985 and the collateral received consisted of cash in the amount of $76,572,233. The cash collateral investments are disclosed in the Schedule of Investments and categorized as Securities Lending Reinvestments.

BHFTI-403

Brighthouse Funds Trust I

Wells Capital Management Mid Cap Value Portfolio

Schedule of Investments as of March 31, 2018 (Unaudited)

(b)	Non-income producing security.
(c)	Represents investment of cash collateral received from securities on loan as of March 31, 2018.
(d)	Variable or floating rate security. The stated rate represents the rate at March 31, 2018. Maturity date shown for callable securities reflects the earliest possible call date. For securities based on a published reference index and spread, the index and spread are indicated in the description above. For certain variable rate securities, the coupon rate is determined by the issuer/agent based on current market conditions. For certain asset- and mortgage-backed securities, the coupon rate may fluctuate based on changes of the underlying collateral or prepayments of principal. These securities do not indicate a reference index and spread in their description above.
(FEDEFF PRV)—	Effective Federal Funds Rate
(LIBOR)—	London InterBank Offered Rate

Fair Value Hierarchy

Accounting principles generally accepted in the United States of America (“GAAP”) define fair market value as the price that the Portfolio would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes a fair value hierarchy that prioritizes inputs to valuation methods and requires disclosure of the fair value hierarchy, separately for each major category of assets and liabilities, that segregates fair value measurements into three levels. Levels 1, 2 and 3 of the fair value hierarchy are defined as follows:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are either active or inactive; inputs other than quoted prices that are observable such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, default rates, or other market corroborated inputs)

Level 3 - significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are unavailable (including the Portfolio’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in them. Changes to the inputs or methodologies used may result in transfers between levels, which will be recognized as of the beginning of the reporting period. Information on transfers between Level 1 and Level 2, if any, will be disclosed following the fair value hierarchy table below. A reconciliation of Level 3 securities, if any, will also be disclosed following the fair value hierarchy table. For more information about the Portfolio’s policy regarding the valuation of investments, please refer to the Notes to Schedule of Investments.

The following table summarizes the fair value hierarchy of the Portfolio’s investments as of March 31, 2018:

Description	Level 1		Level 2			Level 3		Total
Total Common Stocks*	$	516,876,879	$	—		$	—	$	516,876,879
Total Short-Term Investment*		—		9,807,233			—		9,807,233
Total Securities Lending Reinvestments*		—		76,585,153			—		76,585,153
Total Investments	$	516,876,879	$	86,392,386		$	—	$	603,269,265
Collateral for Securities Loaned (Liability)	$	—	$	(76,572,233	)	$	—	$	(76,572,233	)

* See Schedule of Investments for additional detailed categorizations.

BHFTI-404

Brighthouse Funds Trust I

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements:

Debt securities, including corporate, convertible and municipal bonds and notes; obligations of the U.S. Treasury and U.S. government agencies; foreign sovereign issues; and non-U.S. bonds, are generally valued on the basis of evaluated or composite bid quotations obtained from independent pricing services and/or brokers and dealers selected by Brighthouse Investment Advisers, LLC (the “Adviser”) (each as “pricing services”), pursuant to authorization of and subject to general oversight by the Board of Trustees (the “Board” or “Trustees”) of the Brighthouse Funds Trust I (the “Trust”). Such pricing services may use matrix pricing, which considers observable inputs including, among other things, issuer details, maturity dates, interest rates, yield curves, rates of prepayment, credit risks/spreads, default rates, reported trades, broker dealer quotes and quoted prices for similar assets. Short-term obligations with a remaining maturity of sixty days or less may be valued at amortized cost in the absence of market quotes, so long as the amortized cost value of such short-term debt instrument is approximately the same as the fair value of the instrument as determined without the use of amortized cost valuation. Floating rate loans are generally valued on the basis of an evaluated or composite average of aggregate bid and ask quotations supplied by brokers or dealers, as obtained from the pricing service. Securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Mortgage and asset-backed securities are generally valued on the basis of evaluated or composite bid quotations obtained from pricing services selected by the Adviser pursuant to authorization of and subject to general oversight by the Board. These securities are usually issued as separate trachnes, or classes, of securities within each deal. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche and incorporate deal collateral performance, as available. Mortgage and asset-backed securities that use similar valuation techniques and inputs as described above are generally categorized as Level 2 within the fair value hierarchy.

Domestic and foreign equity securities, such as common stock, exchange-traded funds, rights, warrants, and preferred stock, that are traded on a securities exchange on a valuation date are generally valued at their last quoted sale price or official closing price on the primary exchange for such security, or, if no sales occurred on that day, at the last reported bid price. Equity securities traded over-the-counter (“OTC”) are generally valued at the last reported bid price. In the event of a major exchange closing during the trading day, the Advisor may use other market information obtained from quotation reporting systems, established market makers, or pricing services in valuing the securities. Valuation adjustments may be applied to certain foreign equity securities that are traded solely on foreign exchanges that close before the time as of which the Portfolio determines the NAV to account for the market movement between the close of the foreign exchanges and the time as of which the Portfolio determines its NAV. The Portfolio may use a systematic fair valuation model provided by pricing service to value securities principally traded in these foreign markets in order to adjust for possible market movements or other changes that may occur between the close of the foreign exchanges and the time as of which the Portfolio determines the NAV. Foreign equity securities valued using these valuation adjustments are generally categorized as Level 2 within the fair value hierarchy. Equity securities that are actively traded, and have no valuation adjustments applied, are categorized as Level 1 within the fair value hierarchy. Other equity securities traded on inactive markets, or valued in reference to similar instruments traded on active markets, are generally categorized as Level 2 within the fair value hierarchy.

Investments in registered open-end management investment companies are valued at reported net asset value per share on the valuation date and are categorized as Level 1 within the fair value hierarchy.

Foreign currency forward contracts are valued through an independent pricing service by interpolating between forward and spot currency rates in the London foreign exchange markets as of a designated hour on a valuation day. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Options, whether on securities, indices, futures contracts, or otherwise, traded on exchanges are valued at the last sale price available as of the close of business on a valuation day or, if there is no such price available, at the last reported bid price. These types of options are categorized as Level 1 within the fair value hierarchy. Futures contracts that are traded on commodity exchanges are valued at their settlement prices established by the exchanges on which they are traded as of the close of such exchanges and are categorized as Level 1 within the fair value hierarchy.

Options, including options on swaps (“swaptions”), currencies, and futures contracts that are traded OTC are generally valued on the basis of interdealer bid and asked prices or prices provided by pricing service providers who use a series of techniques, including simulation pricing models, to determine the value of the contracts. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, yield curves, credit curves, measures of volatility and exchange rates. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Swap contracts (other than centrally cleared swaps) are marked-to-market daily based on quotations and prices supplied by market makers, broker-dealers and other pricing services. Such quotations and prices are derived utilizing observable data, including the underlying reference securities or indices, credit spread quotations and expected default recovery rates determined by the pricing service. These contracts are generally categorized as Level 2 within the fair value hierarchy.

Centrally cleared swaps listed or traded on a multilateral or trade facility platform, such as a registered exchange, are valued at the daily settlement price determined by the respective exchange or a pricing service when the exchange price is not available. For

BHFTI-405

Brighthouse Funds Trust I

Notes to the Schedule of Investments

Investment Valuation and Fair Value Measurements—(Continued)

centrally cleared credit default swaps, the clearing facility requires its members to provide actionable price levels across complete term structures. These levels along with external third party prices are used to produce daily settlement prices. These securities are categorized as Level 2 within the fair value hierarchy. Centrally cleared interest rate swaps are valued using a pricing model that references the underlying rates, including the overnight index swap rate and London Interbank Offered Rate (“LIBOR”) forward rate to produce the daily settlement price. These securities are categorized as Level 2 within the fair value hierarchy.

If no current market value quotation or other observable inputs are readily available or market value quotations are deemed to be unreliable for an investment, the fair value of the investment will be determined in accordance with procedures approved by, and under the general supervision of, the Board. In such a circumstance, the Board will be assisted in its responsibility to determine the fair value of an investment by the Valuation Committee (“Committee”) of the Adviser. The Committee provides general pricing oversight and fair value pricing determinations related to portfolio securities and meets on a regular basis to review reports relating to the valuation of the securities in each Portfolio. The Board has delegated to State Street Bank and Trust Company, the Trust’s custodian (“custodian”), the responsibility for calculating the net asset values (“NAVs”) of the Trust’s Portfolios. The Committee is responsible for overseeing the calculation of the NAVs of the Portfolios by the custodian. The Committee also periodically reviews pricing services, including the pricing services providing fair value pricing for the Portfolio’s foreign securities, and is responsible for overseeing the correction of pricing errors and addressing other pricing issues that arise in the ordinary course of business, such as making real-time fair value determinations, as necessary.

No single standard for determining the fair value of an investment can be set forth because fair value depends upon the facts and circumstances with respect to each investment. Information relating to any relevant factors may be obtained by the Committee from any appropriate source, including the subadviser of a Portfolio, the custodian, a pricing service, market maker and/or broker for such security or the issuer. Appropriate methodologies for determining fair value under particular circumstances may include: matrix pricing, a discounted cash flow analysis, comparisons of securities with comparable characteristics, value based on multiples of earnings, discount from market price of similar marketable securities or a combination of these and other method.

For information regarding a Portfolio’s other significant accounting policies, please refer to the Portfolio’s most recent Semiannual or Annual Report.

BHFTI-406

Item 2. Controls and Procedures.

(a) The Principal Executive Officer and Principal Financial Officer of the registrant have concluded, based on their evaluation of the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as of a date within 90 days of the filing date of this report on Form N-Q, that the design and operation of such procedures provide reasonable assurance that information required to be disclosed by the registrant in this report on Form N-Q is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There has been no change in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

See attached Exhibits 3(a) and 3(b) as required by Rule 30a-2(a) under the Act.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BRIGHTHOUSE FUNDS TRUST I

By:	/s/ Kristi Slavin
	Kristi Slavin
	President, Chief Executive Officer and Chairman of the Boards
Date:	May 23, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Kristi Slavin
	Kristi Slavin
	President, Chief Executive Officer and Chairman of the Boards
Date:	May 23, 2018
By:	/s/ Alan Otis
	Alan Otis
	Chief Financial Officer and Treasurer
Date:	May 23, 2018